Financial Statements and Related Announcement::Third Quarter Results

MERCURIUS CAPITAL INVESTMENT LIMITED

(Company Registration No.: 198200473E)

(Incorporated in the Republic of Singapore)

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

Mercurius Capital Investment Limited (the "Company") wishes to inform the shareholders of the Company that pursuant to Rule 705(2)(d) and 705(2C) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist, the Company is required to announce its quarterly financial statements in view of the disclaimer of opinion issued by the Company's independent auditor for the financial year ended 31 December 2020.

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr. Pong Chen Yih, Chief Operating Officer, 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone [phone].

MERCURIUS CAPITAL INVESTMENT LIMITED

AND ITS SUBSIDIARY CORPORATIONS

TABLE OF CONTENTS
CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME	1
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION	3
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS	4
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY	5
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS	8
OTHER INFORMATION REQUIRED PURSUANT TO APPENDIX 7C OF THE CATALIST
RULES	20

MERCURIUS CAPITAL INVESTMENT LIMITED

AND ITS SUBSIDIARY CORPORATIONS

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 SEPTEMBER 2021

		3 Months Ended		9 Months Ended
		30/9/2021	30/9/2020	Change	30/9/2021	30/9/2020	Change
		S$'000	S$'000	%	S$'000	S$'000	%
	Note	Unaudited	Unaudited		Unaudited	Unaudited
Revenue		-	-		-	-
Cost of sales		-	-		-	-
Gross profit		-	-		-	-
Other income/(losses), net		8	-	NM	(8)	14	NM
Expenses							40
- Administrative		(259)	(83)	212	(494)	(352)
- Finance		(119)	(163)	(27)	(308)	(467)	(34)
Share of loss of joint venture		-	-	-	-	-	-
Loss before income tax	7	(370)	(246)	50	(810)	(804)	1
Income tax expense		-	-	-	-	-	-
Net loss		(370)	(246)	50	(810)	(804)	1
Other comprehensive loss,
net of tax:
Items that may be reclassified
subsequently to profit or loss:
- Currency translation
gains/(losses) arising from
consolidation		(8)	(20)	(60)	15	2	650
Total comprehensive loss		(378)	(266)	42	(795)	(802)	(1)
Net loss attributable to:
Equity holders of the Company		(370)	(245)	51	(809)	(803)	1
Non-controlling interests		*	(1)	NM	(1)	(1)	-
		(370)	(246)	50	(810)	(804)	1
Total comprehensive loss
attributable to:
Equity holders of the Company		(378)	(265)	(43)	(794)	(801)	(1)
Non-controlling interests		*	(1)	NM	(1)	(1)	-
		(378)	(266)	(42)	(795)	(802)	(1)

NM = Not meaningful

* Amount less than S$1,000.

Explanatory Notes to the Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

1. Other income, net increased due to more favourable exchange rates during the current period.
2. Administrative expenses increased due to professional fees incurred in relation to the Proposed Acquisition (as defined herein) and payment of director's fees.
3. Finance costs relate to the interest expense on convertible loans. The decrease was due to extension of the maturity of the remaining convertible loans by a year and the repayment of a portion of the convertible loans which resulted in lower effective interest rate and interest expense during the current period.
4. Currency translation losses decreased due to more stable Singapore dollar against Malaysian Ringgit exchange rates during the current period.

1

MERCURIUS CAPITAL INVESTMENT LIMITED

AND ITS SUBSIDIARY CORPORATIONS

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 SEPTEMBER 2021 (CONT'D)

Earnings per ordinary share of the Group for the current financial period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends.

	3 Months Ended		9 Months Ended
	30/9/2021	30/9/2020	30/9/2021	30/9/2020
Losses per share attributable to
equity holders of the Company
(cents per share)
Weighted average number of ordinary shares
for basic earnings per share	1,324,104,503	1,283,053,378	1,306,375,412	1,280,938,891
Weighted average number of ordinary shares
for diluted earnings per share	1,367,934,011	1,329,448,173	1,355,136,887	1,317,691,257
Net loss attributable to the equity holders of
the Company for the financial period
(S$'000)	(370)	(245)	(809)	(803)
Less: Interest on convertible loans (S$'000)	(117)	(159)	(301)	(456)
Adjusted net loss for the financial period
(S$'000)	(253)	(86)		(508)	(347)
Basic earnings/(loss) per share (cents)	(0.019)	(0.007)	(0.039)	(0.027)
Diluted earnings/(loss) per share (cents)	(0.018)	(0.006)		(0.037)	(0.026)

2

MERCURIUS CAPITAL INVESTMENT LIMITED

AND ITS SUBSIDIARY CORPORATIONS

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2021

		Group				Company
		30/9/2021	31/12/2020	30/9/2021	31/12/2020
		S$'000	S$'000			S$'000	S$'000
	Note	Unaudited	Audited			Unaudited	Audited
ASSETS
Current assets
Cash and cash equivalents		1,006	247	998	240
Trade and other receivables		102	57	166	107
Income tax recoverable		1	1		-	-
		1,109	305	1,164	347
Non-current assets
Investments in subsidiary
corporations	11	-	-	*	*
Investment in joint venture	8,219	8,219	9,260	9,260
Property, plant and equipment	12	24	35	24	35
Right-of-use assets		123	234		123	234
		8,366	8,488		9,407	9,529
TOTAL ASSETS		9,475	8,793	10,571	9,876
LIABILITIES
Current liabilities
Trade and other payables		528	525	485	481
Lease liabilities	13	128	163	128	163
Convertible loans	3,825	3,813		3,825	3,813
		4,481	4,501	4,438	4,457
Non-current liabilities
Lease liabilities		13	91		13	91
TOTAL LIABILITIES		4,494	4,592		4,451	4,548
NET ASSETS		4,981	4,201	6,120	5,328
EQUITY
Capital and reserves attributable
to equity holders of the
Company	14
Share capital	142,852	141,277	142,852	141,277
Other reserves		(1,507)	(1,522)	805	805
Accumulated losses		(136,368)	(135,559)	(137,537)	(136,754)
		4,977	4,196			6,120	5,328
Non-controlling interests		4	5		-	-
TOTAL EQUITY		4,981	4,201		6,120	5,328

* Amount less than $1,000.

Explanatory Notes to the Consolidated Interim Statements of Financial Position

1. Cash and cash equivalents increased mainly due to the payment received for share subscription.
2. Right-of-useassets decreased due to depreciation.
3. Trade and other receivables increased mainly due to deposits placed.
4. Lease liabilities decreased due to lease payments made during the period.

3