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    PETDAG   MYL5681OO001

PETRONAS DAGANGAN BERHAD

(PETDAG)
  Report
End-of-day quote BURSA MALAYSIA  -  05-26
21.00 MYR   -0.57%
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PETRONAS Dagangan Berhad : Quarterly Financial Report (Q2 FY2021)

08/23/2021 EDT

For Second Quarter Ended 30 June 2021

Open

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2021

Tthe Company ) is pleased to announce the following Unaudited Condensed Consolidated Financial Statements for PDB Group for the second quarter ended 30 June 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

30 June

30 June

In RM'000

Note

2021

2020

2021

2020

Revenue

B2

5,143,990

2,931,750

10,247,308

9,485,661

Operating profit

92,373

5,667

380,188

(8,613)

Finance cost

(2,442)

(3,952)

(5,102)

(8,524)

Share of profit/(loss) after tax of equity

accounted associates and joint

ventures

34

(549)

335

(124)

Profit/(Loss) before taxation

B2

89,965

1,166

375,421

(17,261)

Taxation

B5

(7,600)

505

(101,892)

(8,766)

PROFIT/(LOSS) FOR THE PERIOD

B12

82,365

1,671

273,529

(26,027)

Other comprehensive (expense)/ 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/(EXPENSE) FOR THE PERIOD

(320)

(110)

1,562

2,628

82,045

1,561

275,091

(23,399)

Profit/(loss) attributable to:

Shareholders of the Company

82,141

3,510

273,254

(25,911)

Non-controlling interests

224

(1,839)

275

(116)

PROFIT/(LOSS) FOR THE PERIOD

82,365

1,671

273,529

(26,027)

Total comprehensive income/(expense)

attributable to:

Shareholders of the Company

81,821

3,400

274,816

(23,283)

Non-controlling interests

224

(1,839)

275

(116)

TOTAL COMPREHENSIVE INCOME/

(EXPENSE) FOR THE PERIOD

82,045

1,561

275,091

(23,399)

Earnings/(Loss) per ordinary share

B10

8.3

0.4

27.5

(2.6)

- 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.

1

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

As at

30 June

31 December

In RM'000

Note

2021

2020

ASSETS

Property, plant and equipment

4,033,607

4,067,023

Investments in associates

1,882

1,665

Investments in joint ventures

19,566

19,449

TOTAL NON-CURRENT ASSETS

4,055,055

4,088,137

Trade and other inventories

355,689

410,229

Trade and other receivables

1,290,280

1,169,444

Fund investment

70,737

-

Cash and cash equivalents

2,601,678

2,691,820

Assets classified as held for sale

36,143

-

TOTAL CURRENT ASSETS

4,354,527

4,271,493

TOTAL ASSETS

B2

8,409,582

8,359,630

EQUITY

Share capital

993,454

993,454

Reserves

4,617,136

4,650,291

Total Equity Attributable to Shareholders

5,610,590

5,643,745

of the Company

Non-controlling interests

32,176

31,901

TOTAL EQUITY

B2

5,642,766

5,675,646

LIABILITIES

Borrowings

B7

87,443

96,778

Deferred tax liabilities

102,703

104,609

Other long term liabilities and provisions

29,495

30,328

TOTAL NON-CURRENT LIABILITIES

219,641

231,715

Trade and other payables

2,398,300

2,342,061

Borrowings

B7

50,916

81,392

Taxation

77,326

28,816

Liabilities classified as held for sale

20,633

-

TOTAL CURRENT LIABILITIES

2,547,175

2,452,269

TOTAL LIABILITIES

B2

2,766,816

2,683,984

TOTAL EQUITY AND LIABILITIES

8,409,582

8,359,630

Net assets per share attributable to ordinary

equity holders of the Parent (RM)

5.65

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.

2

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 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

-

1,562

-

-

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

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

-

2,628

-

-

2,628

-

2,628

Total other

comprehensive

income for the

period

-

2,628

-

-

2,628

-

2,628

Loss for the period

-

-

-

(25,911)

(25,911)

(116)

(26,027)

Total comprehensive

income/(expense) for

the period

-

2,628

-

(25,911)

(23,283)

(116)

(23,399)

Dividends paid

-

-

-

(447,054)

(447,054)

-

(447,054)

At 30 June 2020

993,454

(16,307)

(18,732)

4,547,192

5,505,607

35,335

5,540,942

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.

3

PETRONAS DAGANGAN BERHAD198201008499 (88222-D)

QUARTERLY REPORT

FOR SECOND QUARTER ENDED 30 JUNE 2021

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Cumulative quarter ended

30 June

In RM'000

Note

2021

2020

CASH FLOWS FROM OPERATING ACTIVITIES

Profit/(Loss) before taxation

375,421

(17,261)

Adjustments for:

Depreciation and amortisation

230,959

255,393

Net impairment (write-back)/losses on receivables

(1,407)

6,309

Share of (profit)/loss after tax of equity accounted associates

and joint ventures

(335)

124

Net (gain)/loss on disposal of property, plant and equipment

(2,107)

300

Inventories written-back to net realisable value ("NRV")

(4,088)

-

Net inventories written-back

(110)

(638)

Property, plant and equipment expensed off

916

-

Interest income

(27,064)

(37,797)

Finance cost

5,102

8,524

Other non-cash items

(562)

(2,079)

1Operating profit before changes in working capital

576,725

212,875

Inventories

51,795

283,427

Trade and other receivables

(139,005)

424,774

Trade and other payables

76,405

(1,323,085)

Cash generated from/(used in) operations

565,920

(402,009)

Taxation paid

(55,299)

(56,592)

Net cash generated from/(used in) operating activities

B2

510,621

(458,601)

CASH FLOWS FROM INVESTING ACTIVITIES

Interest income

27,064

37,797

Net (placement)/withdrawal of fund investment

(70,737)

51,004

Purchase of property, plant and equipment

(206,674)

(113,694)

Proceeds from disposal of property, plant and equipment

7,550

-

Net cash used in investing activities

B2

(242,797)

(24,893)

CASH FLOWS FROM FINANCING ACTIVITIES

Dividends paid

(307,971)

(447,054)

Net drawdown/(repayment) of revolving credits

B7

6,500

(5,549)

Repayment of Islamic financing facilities

B7

(9,176)

(9,795)

Repayment of lease liabilities

B7

(37,163)

(79,974)

Interest paid on revolving credits

B7

(192)

(27)

Profit margin paid for Islamic financing facilities

B7

(89)

(532)

Interest paid on lease liabilities

B7

(4,821)

(7,965)

Net cash used in financing activities

B2

(352,912)

(550,896)

4

Disclaimer

Petronas Dagangan Bhd published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 08:40:09 UTC.


© Publicnow 2021
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Financials
Sales 2022 27 967 M 6 386 M 6 386 M
Net income 2022 650 M 148 M 148 M
Net cash 2022 2 549 M 582 M 582 M
P/E ratio 2022 32,1x
Yield 2022 2,90%
Capitalization 20 863 M 4 764 M 4 764 M
EV / Sales 2022 0,65x
EV / Sales 2023 0,64x
Nbr of Employees 1 416
Free-Float 13,3%
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 21,00 MYR
Average target price 20,60 MYR
Spread / Average Target -1,92%
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Managers and Directors
Azrul bin Osman Rani Chief Executive Officer, Director & MD
Farzlina Ahmad Murad Chief Financial Officer
Anuar bin Ahmad Chairman
Mohamad Imran M. Ashraf Head-Technical Services Division
Koh Tat Chong Chief Technology Officer