PETRONAS Dagangan : Quarterly Financial Report (Q1 FY2021)

For First Quarter Ended 31 March 2021

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PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR FIRST QUARTER ENDED 31 MARCH 2021

Tthe Company ) is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the first quarter ended 31 March 2021 which should be read in conjunction with the accompanying explanatory notes on pages 6 to 18.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

		Individual quarter ended
				31 March
In RM'000	Note	2021		2020
Revenue	B2	5,103,318		6,553,910
Operating profit/(loss)		287,815	(14,280)
Finance cost		(2,660)	(4,573)
Share of profit after tax of equity
accounted associates and joint
ventures		301	425
Profit/(Loss) before taxation	B2	285,456		(18,428)
Tax expense	B5	(94,292)	(9,272)
PROFIT/(LOSS) FOR THE PERIOD	B12	191,164		(27,700)
Other comprehensive expense
Items that may be reclassified
subsequently to profit or loss
Exchange differences arising from
translation of financial statements
of foreign operations		1,882	2,738
TOTAL COMPREHENSIVE INCOME/(EXPENSE) FOR
THE PERIOD		193,046	(24,962)
Profit/(Loss) attributable to:
Shareholders of the Company		191,113	(29,423)
Non-controlling interests		51	1,723
PROFIT/(LOSS) FOR THE PERIOD		191,164		(27,700)
Total comprehensive income/(expense)
attributable to:
Shareholders of the Company		192,995	(26,685)
Non-controlling interests		51	1,723
TOTAL COMPREHENSIVE INCOME/(EXPENSE) FOR
THE PERIOD		193,046	(24,962)
Earnings/(Loss) per ordinary share- basic (sen)	B10	19.2	(3.0)

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 FIRST QUARTER ENDED 31 MARCH 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		As at		As at
		31 March		31 December
In RM'000	Note	2021	2020
ASSETS
Property, plant and equipment		4,042,152	4,067,023
Investments in associates		1,715	1,665
Investments in joint ventures		19,699		19,449
TOTAL NON-CURRENT ASSETS		4,063,566		4,088,137
Trade and other inventories		401,563	410,229
Trade and other receivables		1,469,012	1,169,444
Cash and cash equivalents		3,019,020	2,691,820
TOTAL CURRENT ASSETS		4,889,595		4,271,493
TOTAL ASSETS	B2	8,953,161		8,359,630
EQUITY
Share capital		993,454	993,454
Reserves		4,674,399		4,650,291
Total Equity Attributable to Shareholders		5,667,853	5,643,745
of the Company
Non-controlling interests		31,952		31,901
TOTAL EQUITY	B2	5,699,805	5,675,646
LIABILITIES
Borrowings	B7	87,914	96,778
Deferred tax liabilities		101,005	104,609
Other long term liabilities and provisions		30,315	30,328
TOTAL NON-CURRENT LIABILITIES		219,234		231,715
Trade and other payables		2,868,271	2,342,061
Borrowings	B7	71,970	81,392
Taxation		93,881	28,816
TOTAL CURRENT LIABILITIES		3,034,122		2,452,269
TOTAL LIABILITIES	B2	3,253,356		2,683,984
TOTAL EQUITY AND LIABILITIES		8,953,161		8,359,630
Net assets per share attributable to ordinary
equity holders of the Parent (RM)		5.71	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 FIRST QUARTER ENDED 31 MARCH 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 operations	-	1,882	-	-	1,882	-	1,882
Total other
comprehensive
income for the
period	-	1,882	-	-	1,882	-	1,882
Profit for the period	-	-	-	191,113	191,113	51	191,164
Total comprehensive
income for the period	-	1,882	-	191,113	192,995	51	193,046
Dividends paid	-	-	-	(168,887)	(168,887)	-	(168,887)
At 31 March 2021	993,454	(19,209)	(18,732)	4,712,340	5,667,853	31,952	5,699,805
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	-	2,738	-	-	2,738	-	2,738
Total other
comprehensive
income for the
period	-	2,738	-	-	2,738	-	2,738
(Loss)/profit for the
period	-	-	-	(29,423)	(29,423)	1,723	(27,700)
Total comprehensive
income/(expense) for
the period	-	2,738	-	(29,423)	(26,685)	1,723	(24,962)
Dividends paid	-	-	-	(397,382)	(397,382)	-	(397,382)
At 31 March 2020		993,454	(16,197)	(18,732)	4,593,352	5,551,877	37,174	5,589,051

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 FIRST QUARTER ENDED 31 MARCH 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
		Individual quarter ended
				31 March
In RM'000	Note	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(Loss) before taxation		285,456		(18,428)
Adjustments for:
Depreciation and amortisation		114,726		128,841
Net impairment (write-back)/losses on receivables		(1,807)		5,776
Share of profit after tax of equity accounted associates
and joint ventures		(301)		(425)
Net (gain)/loss on disposal of property, plant and equipment		(2,443)		246
Inventories (written-back)/ written down at net realisable		(1,030)		36,254
value ("NRV")
Property, plant and equipment expensed off		179		-
Interest income		(12,673)		(26,092)
Finance cost		2,660		4,573
Other non-cash items		(1,584)		(1,397)
Operating profit before changes in working capital		383,183		129,348
Inventories		9,696		49,815
Trade and other receivables		(297,761)		198,264
Trade and other payables		527,918		(976,295)
Cash generated from/(used in) operations		623,036		(598,868)
Taxation paid		(32,826)		(56,567)
Net cash generated from/(used in) operating activities	B2	590,210		(655,435)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest income		12,673		26,092
Net withdrawal of fund investment		-		51,004
Purchase of property, plant and equipment		(95,186)		(34,728)
Proceeds from disposal of property, plant and equipment		7,550		-
Net cash (used in)/generated from investing activities	B2	(74,963)		42,368
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid		(168,887)		(397,382)
Net drawdown/(repayment) of revolving credits	B7	6,500		(5,304)
Repayment of Islamic financing facilities	B7	(5,101)		(4,844)
Repayment of lease liabilities	B7	(19,889)		(39,779)
Interest paid on revolving credits	B7	(79)		(20)
Profit margin paid for Islamic financing facilities	B7	(58)		(311)
Interest paid on lease liabilities	B7	(2,523)		(4,242)
Net cash used in financing activities	B2	(190,037)		(451,882)

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