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    PETDAG   MYL5681OO001

PETRONAS DAGANGAN BERHAD

(PETDAG)
  Report
End-of-day quote BURSA MALAYSIA  -  05-26
21.00 MYR   -0.57%
05/27Petronas Dagangan Trims Dividend as Profit Slumps in Q1
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05/26Petronas Dagangan Berhad Declares Interim Dividend for Quarter Ended 31 March 2022, Payment Date Is 24 June 2022
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05/26PETRONAS Dagangan Berhad Reports Earnings Results for the First Quarter Ended March 31, 2022
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PETRONAS Dagangan : Quarterly Financial Report (Q1 FY2021)

05/25/2021 EDT

For First Quarter Ended 31 March 2021

Open

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.

Open

1

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.

Open

2

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.

Open

3

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)

Open

4

Disclaimer

Petronas Dagangan Bhd published this content on 25 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2021 15:54:02 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%
EPS Revisions
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