PETRONAS Dagangan Berhad : Quarterly Financial Report (Q4 FY2021)

For Fourth Quarter and Year Ended

31 December 2021

Internal

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2021

Tthe Company ) is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the fourth quarter and year ended 31 December 2021 which should be read in conjunction with the accompanying explanatory notes on pages 6 to 20.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

		Individual quarter ended				Year ended
			31 December			31 December
In RM'000	Note	2021		2020		2021		2020
Revenue	B2	7,057,356		4,394,808		22,505,326	18,710,947
Operating profit		203,446	119,080	751,187	402,534
Finance costs		(4,242)	(3,999)	(11,640)	(16,035)
Share of profit/(loss) after tax of equity
accounted associates and joint
ventures		603	310	1,221	(78)
Profit before taxation	B2	199,807		115,391		740,768		386,421
Taxation	B5	(61,722)		(27,748)		(209,537)		(114,007)
PROFIT FOR THE PERIOD/YEAR	B12	138,085	87,643	531,231	272,414
Other comprehensive income/(loss)
Items that may be reclassified
subsequently to profit or loss
Exchange differences arising from
translation of financial statements
of foreign operations		5,187	(1,881)	5,802	(2,156)
Reclassification of foreign currency
translation differences to profit or loss
on disposal of subsidiary		8,779	-	8,779	-
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD/YEAR		152,051	85,762	545,812	270,258
Profit attributable to:
Shareholders of the Company		137,191	89,214	529,754	275,964
Non-controlling interests		894	(1,571)	1,477	(3,550)
PROFIT FOR THE PERIOD/YEAR		138,085	87,643	531,231	272,414
Total comprehensive income
attributable to:
Shareholders of the Company		151,157	87,333	544,335	273,808
Non-controlling interests		894	(1,571)	1,477	(3,550)
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD/YEAR		152,051		85,762		545,812		270,258
Earnings per ordinary share	B10	13.8	9.0	53.3	27.8
- 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 FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		As at		As at
		31 December		31 December
In RM'000	Note	2021	2020
ASSETS
Property, plant and equipment		4,017,549	4,067,023
Intangible asset	A13	806	-
Investments in associates		2,008	1,665
Investments in joint ventures		20,327		19,449
TOTAL NON-CURRENT ASSETS		4,040,690		4,088,137
Trade and other inventories		158,866	410,229
Trade and other receivables		3,490,185	1,169,444
Cash and cash equivalents		1,911,062	2,691,820
TOTAL CURRENT ASSETS		5,560,113		4,271,493
TOTAL ASSETS	B2	9,600,803		8,359,630
EQUITY
Share capital		993,454	993,454
Reserves		4,588,619		4,650,291
Total Equity Attributable to Shareholders		5,582,073	5,643,745
of the Company
Non-controlling interests		33,378		31,901
TOTAL EQUITY	B2	5,615,451	5,675,646
LIABILITIES
Borrowings	B7	92,166	96,778
Deferred tax liabilities		102,723	104,609
Other long term liabilities and provisions		31,272	30,328
TOTAL NON-CURRENT LIABILITIES		226,161		231,715
Trade and other payables		3,645,060	2,342,061
Borrowings	B7	24,266	81,392
Taxation		89,865	28,816
TOTAL CURRENT LIABILITIES		3,759,191		2,452,269
TOTAL LIABILITIES	B2	3,985,352		2,683,984
TOTAL EQUITY AND LIABILITIES		9,600,803		8,359,630
Net assets per share attributable to ordinary
equity holders of the Parent (RM)		5.62	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 FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to Shareholders of the Company

Non-DistributableDistributable

			Foreign
			Currency				Non-
		Share	Translation	Capital	Retained		controlling	Total
		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 operation	-	5,802	-	-	5,802	-	5,802
Disposal of subsidiary
acquired under
common control	-	8,779	18,427	(18,427)	8,779	-	8,779
Total other
comprehensive
income/(loss) for the
year	-	14,581	18,427	(18,427)	14,581	-	14,851
Profit for the year	-	-	-	529,754	529,754	1,477	531,231
Total comprehensive
income for the year	-	14,581	18,427	511,327	544,335	1,477	545,812
Dividends paid	-	-	-	(606,007)	(606,007)	-	(606,007)
At 31 December 2021	993,454	(6,510)	(305)	4,595,434	5,582,073	33,378	5,615,451
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	-	(2,156)	-	-	(2,156)	-	(2,156)
Total other
comprehensive loss
for the year	-	(2,156)	-	-	(2,156)	-	(2,156)
Profit/(Loss) for the
year	-	-	-	275,964	275,964	(3,550)	272,414
Total comprehensive
(loss)/income for the
year	-	(2,156)	-	275,964	273,808	(3,550)	270,258
Dividends paid	-	-	-	(606,007)	(606,007)	-	(606,007)
At 31 December 2020		993,454	(21,091)	(18,732)	4,690,114	5,643,745	31,901	5,675,646

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 FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

				Year ended
				31 December
In RM'000	Note	2021	2020
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation		740,768	386,421
Adjustments for:
Depreciation and amortisation		412,155	497,839
Net impairment losses on:
- Trade and other receivables		12,351	5,530
- Property, plant and equipment		4,124	-
Share of (profit)/loss after tax of equity accounted associates
and joint ventures		(1,221)	78
Net loss on disposal of property, plant and equipment		1,710	4,199
Interest income		(61,265)	(71,270)
Financing costs		11,640	16,035
Net inventories written off		346	37
Net inventories written-back to net realisable value ("NRV")		(4,088)	(302)
Property, plant and equipment written off		1,096	1,393
Property, plant and equipment expensed off		2,627	7,119
Other non-cash items		(1,045)	(2,255)
Operating profit before changes in working capital		1,119,198	844,824
Inventories		255,106	386,553
Trade and other receivables		(2,332,048)	392,040
Trade and other payables		1,305,223	(1,097,988)
Cash generated from operations		347,479	525,429
Taxation paid		(150,374)	(162,600)
Net cash generated from operating activities	B2	197,105	362,829
CASH FLOWS FROM INVESTING ACTIVITIES
Interest income		61,265	71,270
Net withdrawal of fund investment		-	51,004
Purchase of property, plant and equipment		(374,313)	(443,231)
Acquisition of subsidiary, net of cash acquired	A13	(713)	-
Proceeds from disposal of subsidiary, net of cash disposed	A13	7,278	-
Proceeds from disposal of property, plant and equipment		9,471	1,565
Net cash used in investing activities	B2	(297,012)	(319,392)

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