PETRONAS Dagangan Berhad : Quarterly Financial Report (Q3 FY2021)

PETRONAS DAGANGAN

BERHAD

Quarterly Report

For Third Quarter Ended 30 September 2021

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR THIRD QUARTER ENDED 30 SEPTEMBER 2021

The Board of Directors of PETRONAS Dagangan Berhad ("PDB" or "the Company") is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the third quarter ended 30 September 2021 which should be read in conjunction with the accompanying explanatory notes on pages 6 to 19.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

						Individual quarter ended					Cumulative quarter ended
	In RM'000		Note			2021		30 September					2021		30 September
						2020									2020

Revenue	B2	5,200,662
Operating profit		167,553
Finance cost		(2,296)
Share of profit/(loss) after tax of equity
accounted associates and joint
ventures		283

Profit before taxation	B2	165,540
Taxation	B5	(45,922)
PROFIT FOR THE PERIOD	B12	119,618

Other comprehensive (expense)/ income

Items that may be reclassified subsequently to profit or loss

4,830,478	15,447,970		14,316,139
292,067		547,741		283,454
(3,512)		(7,398)		(12,036)
(265)		618		(388)
288,290		540,961		271,030
(77,492)		(147,815)		(86,259)
210,798		393,146		184,771

Exchange differences arising from translation of financial statements of foreign operations

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

Profit attributable to:

Shareholders of the Company

Non-controlling interests

PROFIT FOR THE PERIOD

(947)

118,671

119,310

308

119,618

(2,903)		615		(275)
207,895		393,761		184,496
212,661		392,563		186,750
(1,863)		583		(1,979)
210,798		393,146		184,771

Total comprehensive income
attributable to:
Shareholders of the Company		118,363	209,758	393,178	186,475
Non-controlling interests		308	(1,863)	583	(1,979)
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD		118,671	207,895	393,761	184,496
Earnings per ordinary share	B10	12.0	21.4	39.5	18.8
- basic (sen)

The Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying explanatory notes attached to these Condensed Consolidated Financial Statements.

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PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR THIRD QUARTER ENDED 30 SEPTEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		As at	As at
		30 September	31 December
In RM'000	Note	2021	2020
ASSETS
Property, plant and equipment		3,964,635	4,067,023
Investments in associates		1,928	1,665
Investments in joint ventures		19,803	19,449
Intangible asset	A14	806	-
TOTAL NON-CURRENT ASSETS		3,987,172	4,088,137
Trade and other inventories		296,772	410,229
Trade and other receivables		1,817,186	1,169,444
Cash and cash equivalents		2,825,704	2,691,820
Assets classified as held for sale		27,813	-
TOTAL CURRENT ASSETS		4,967,475	4,271,493
TOTAL ASSETS	B2	8,954,647	8,359,630
EQUITY
Share capital		993,454	993,454
Reserves		4,636,153	4,650,291
Total Equity Attributable to Shareholders		5,629,607	5,643,745
of the Company
Non-controlling interests		32,484	31,901
TOTAL EQUITY	B2	5,662,091	5,675,646
LIABILITIES
Borrowings	B7	86,956	96,778
Deferred tax liabilities		104,485	104,609
Other long term liabilities and provisions		29,495	30,328
TOTAL NON-CURRENT LIABILITIES		220,936	231,715
Trade and other payables		2,925,562	2,342,061
Borrowings	B7	37,472	81,392
Taxation		95,142	28,816
Liabilities classified as held for sale		13,444	-
TOTAL CURRENT LIABILITIES		3,071,620	2,452,269
TOTAL LIABILITIES	B2	3,292,556	2,683,984
TOTAL EQUITY AND LIABILITIES		8,954,647	8,359,630
Net assets per share attributable to ordinary
equity holders of the Parent (RM)		5.67	5.68

The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the

accompanying explanatory notes attached to the Condensed Consolidated Financial Statements.

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PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR THIRD QUARTER ENDED 30 SEPTEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

		Attributable to Shareholders of the Company
		Non- Distributable			Distributable
			Foreign
			Currency							Non-
		Share	Translation	Capital	Retained				controlling	Total
In RM'000	Capital	Reserves	Reserves	Profits			Total	Interests	Equity
At 1 January 2021		993,454	(21,091)	(18,732)	4,690,114	5,643,745	31,901	5,675,646
Exchange difference
arising from
translation of
financial statements
of foreign operations		-	615	-	-	615	-	615
Total other
comprehensive
income for the
period	-	615	-	-	615	-	615
Profit for the period	-	-	-	392,563	392,563	583	393,146
Total comprehensive
income for the period	-	615	-	392,563	393,178	583	393,761
Dividends paid	-	-	-	(407,316)	(407,316)	-	(407,316)
At 30 September 2021	993,454	(20,476)	(18,732)	4,675,361	5,629,607	32,484	5,662,091
At 1 January 2020		993,454	(18,935)	(18,732)	5,020,157	5,975,944	35,451	6,011,395
Exchange difference
arising from
translation of
financial statements
of foreign operations		-	(275)	-	-	(275)	-	(275)
Total other
comprehensive loss
for the period	-	(275)	-	-	(275)	-	(275)
Profit/(Loss) for the
period		-	-	-	186,750	186,750	(1,979)	184,771
Total comprehensive
(expense)/income for
the period	-	(275)	-	186,750	186,475	(1,979)	184,496
Dividends paid	-	-	-	(496,727)	(496,727)	-	(496,727)
At 30 September 2020		993,454	(19,210)	(18,732)	4,710,180	5,665,692	33,472	5,699,164

The Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the

accompanying explanatory notes attached to these Condensed Consolidated Financial Statements.

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PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR THIRD QUARTER ENDED 30 SEPTEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

In RM'000	Note
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
Adjustments for:
Depreciation and amortisation
Net impairment (write-back)/losses on receivables
Share of (profit)/loss after tax of equity accounted associates
and joint ventures
Net (gain)/loss on disposal of property, plant and equipment
Net reversal of inventories written off
Net inventories reversal to net realisable value ("NRV")
Property, plant and equipment expensed off
Interest income
Finance cost
Other non-cash items
1Operating profit before changes in working capital
Inventories
Trade and other receivables
Trade and other payables
Cash generated from/(used in) operations
Taxation paid
Net cash generated from/(used in) operating activities	B2
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of subsidiary
Interest income
Net withdrawal of fund investment
Purchase of property, plant and equipment
Proceeds from disposal of property, plant and equipment
Net cash used in investing activities	B2
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid
Net drawdown/(repayment) of revolving credits	B7
Repayment of Islamic financing facilities	B7
Repayment of lease liabilities	B7
Interest paid on revolving credits	B7
Profit margin paid for Islamic financing facilities	B7
Interest paid on lease liabilities	B7
Net cash used in financing activities	B2

Cumulative quarter ended 30 September

20212020

540,961	271,030
339,023	377,603
(300)	5,566
(618)	388
(1,986)	449
(108)	(4,306)
(4,088)	-
1,161	-
(40,593)	(50,252)
7,398	12,036
(2,022)	(2,158)
838,828	610,356
110,646	214,536
(660,193)	333,107
596,808	(1,182,754)
886,089	(24,755)
(81,111)	(56,976)
804,978	(81,731)
(713)	-
40,593	50,252
-	51,004
(245,633)	(200,270)
7,562	-
(198,191)	(99,014)
(407,316)	(496,727)
6,500	(5,258)
(9,880)	(14,814)
(50,455)	(115,622)
(307)	(28)
(139)	(686)
(6,952)	(11,322)
(468,549)	(644,457)

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