PETRONAS Dagangan : Quarterly Financial Report (Q2 FY2022)

For Second Quarter Ended 30 June 2022

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PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2022

Tthe Company ) is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the second quarter ended 30 June 2022 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
				30 June				30 June
In RM'000	Note	2022		2021		2022		2021
Revenue	B2	9,501,101	5,182,469	17,119,424	10,324,847
Operating profit		317,040	92,373	497,758	380,188
Finance cost		(4,402)	(2,442)	(7,188)	(5,102)
Share of profit after tax of equity
accounted associates and joint
ventures		2,856	34	3,638	335
Profit before taxation	B2	315,494		89,965		494,208		375,421
Taxation	B5	(76,080)	(7,600)	(134,444)	(101,892)
PROFIT FOR THE PERIOD	B14	239,414	82,365	359,764	273,529

Other comprehensive income

Items that may be reclassified subsequently to profit or loss

Exchange differences arising from translation of financial statements of foreign operations

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

20		(320)		27		1,562
239,434		82,045		359,791		275,091

Profit attributable to:
Shareholders of the Company		237,679	82,141	356,173	273,254
Non-controlling interests		1,735	224	3,591	275
PROFIT FOR THE PERIOD		239,414		82,365		359,764		273,529
Total comprehensive income
attributable to:
Shareholders of the Company		237,699	81,821	356,200	274,816
Non-controlling interests		1,735	224	3,591	275
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD		239,434		82,045		359,791		275,091
Earnings per ordinary share	B12	23.9	8.3	35.9	27.5
- 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 SECOND QUARTER ENDED 30 JUNE 2022

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		As at		As at
		30 June		31 December
In RM'000	Note	2022	2021
ASSETS
Property, plant and equipment		4,008,671	4,017,549
Intangible asset		677	806
Investments in associates		2,194	2,008
Investments in joint ventures	A16	76,227		20,327
TOTAL NON-CURRENT ASSETS		4,087,769		4,040,690
Trade and other inventories		199,383	158,866
Trade and other receivables		10,309,999	3,490,185
Cash and cash equivalents		2,654,603	1,911,062
TOTAL CURRENT ASSETS		13,163,985		5,560,113
TOTAL ASSETS	B2	17,251,754		9,600,803
EQUITY
Share capital		993,454	993,454
Reserves		4,636,848		4,588,619
Total Equity Attributable to Shareholders		5,630,302	5,582,073
of the Company
Non-controlling interests		36,969		33,378
TOTAL EQUITY	B2	5,667,271	5,615,451
LIABILITIES
Borrowings	B7	142,072	92,166
Deferred tax liabilities		107,176	102,723
Other long term liabilities and provisions		31,272	31,272
TOTAL NON-CURRENT LIABILITIES		280,520		226,161
Trade and other payables		10,440,439	3,645,060
Borrowings	B7	733,586	24,266
Taxation		129,938	89,865
TOTAL CURRENT LIABILITIES		11,303,963		3,759,191
TOTAL LIABILITIES	B2	11,584,483		3,985,352
TOTAL EQUITY AND LIABILITIES		17,251,754		9,600,803
Net assets per share attributable to ordinary
equity holders of the Parent (RM)		5.67	5.62

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 SECOND QUARTER ENDED 30 JUNE 2022

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 2022	993,454	(6,510)	(305)	4,595,434	5,582,073	33,378	5,615,451
Exchange difference
arising from
translation of
financial statements
of foreign operation	-	27	-	-	27	-	27
Total other
comprehensive
income for the
period	-	27	-	-	27	-	27
Profit for the period	-	-	-	356,173	356,173	3,591	359,764
Total comprehensive
income for the period	-	27	-	356,173	356,200	3,591	359,791
Dividends paid	-	-	-	(307,971)	(307,971)	-	(307,971)
At 30 June 2022	993,454	(6,483)	(305)	4,643,636	5,630,302	36,969	5,667,271
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	-	1,562	-	-	1,562	-	1,562
Total other
comprehensive
income for the
period	-	1,562	-	-	1,562	-	1,562
Profit for the period	-	-	-	273,254	273,254	275	273,529
Total comprehensive
income for the period	-	1,562	-	273,254	274,816	275	275,091
Dividends paid	-	-	-	(307,971)	(307,971)	-	(307,971)
At 30 June 2021		993,454	(19,529)	(18,732)	4,655,397	5,610,590	32,176	5,642,766

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 SECOND QUARTER ENDED 30 JUNE 2022

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
		Cumulative quarter ended
				30 June
In RM'000	Note	2022		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation		494,208		375,421
Adjustments for:
Depreciation and amortisation		211,353		230,959
Net impairment losses/(write-back) on receivables		12,690		(1,407)
Share of profit after tax of equity accounted associates
and joint ventures		(3,638)		(335)
Net gain on disposal of property, plant and equipment		(1,299)		(2,107)
Gain on disposal of LPG business		(87,937)		-
Inventories written-back to net realisable value ("NRV")		-		(4,088)
Net inventories written-back		-		(110)
Property, plant and equipment expensed off		1,701		916
Interest income		(25,434)		(27,064)
Finance cost		7,188		5,102
Other non-cash items		(729)		(562)
Operating profit before changes in working capital		608,103		576,725
Inventories		(40,516)		51,795
Trade and other receivables		(6,830,546)		(139,005)
Trade and other payables		6,792,423		76,405
Cash generated from operations		529,464		565,920
Taxation paid		(91,147)		(55,299)
Net cash generated from operating activities	B2	438,317		510,621
CASH FLOWS FROM INVESTING ACTIVITIES
Interest income		25,434		27,064
Net placement of fund investment		-		(70,737)
Purchase of property, plant and equipment		(108,824)		(206,674)
Investment in joint venture		(2,410)		-
Proceeds from disposal of LPG business		40,000		-
Proceeds from disposal of property, plant and equipment		949		7,550
Net cash used in investing activities	B2	(44,851)		(242,797)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid		(307,971)		(307,971)
Net drawdown of revolving credits	B7	684,000		6,500
Repayment of Islamic financing facilities	B7	-		(9,176)
Repayment of lease liabilities	B7	(18,815)		(37,163)
Interest paid on revolving credits	B7	(1,889)		(192)
Profit margin paid for Islamic financing facilities	B7	-		(89)
Interest paid on lease liabilities	B7	(5,299)		(4,821)
Net cash generated from/(used in) financing activities	B2	350,026		(352,912)
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