RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report |
Incorporated in Malaysia | for 1st Quarter Ended 30 June 2023 |
SUMMARY OF KEY FINANCIAL INFORMATION FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2023
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||
30.06.2023 | 30.06.2022 | 30.06.2023 | 30.06.2022 | ||
RM'000 | RM'000 | RM'000 | RM'000 | ||
1. | Revenue | 83,970 | 77,661 | 83,970 | 77,661 |
2. | Profit before tax | 48,991 | 42,887 | 48,991 | 42,887 |
3. | Profit for the financial period | 36,878 | 32,227 | 36,878 | 32,227 |
4. | Profit attributable to | ||||
ordinary equity holders | |||||
of the Company | 36,878 | 32,227 | 36,878 | 32,227 | |
5. | Basic earnings per | ||||
ordinary share (sen) | 5.03 | 4.40 | 5.03 | 4.40 | |
6. | Proposed/Declared dividend | ||||
per share (sen) | - | - | - | - | |
AS AT END OF | AS AT PRECEDING | ||||
CURRENT | FINANCIAL | ||||
QUARTER | YEAR END |
7. Net assets per share attributable to ordinary equity holders of
the Company (RM) | 1.07 | 1.10 | |||
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||
30.06.2023 | 30.06.2022 | 30.06.2023 | 30.06.2022 | ||
RM'000 | RM'000 | RM'000 | RM'000 | ||
8. | Gross interest income | 4 | 70 | 4 | 70 |
9. | Gross interest expense | 53 | 57 | 53 | 57 |
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | |||
Incorporated in Malaysia | for 1st Quarter Ended 30 June 2023 | |||
CONDENSED STATEMENT OF COMPREHENSIVE INCOME | ||||
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | |||
3 MONTHS ENDED | 3 MONTHS ENDED | |||
30.06.2023 | 30.06.2022 | 30.06.2023 | 30.06.2022 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Profit income | 71,083 | 69,227 | 71,083 | 69,227 |
Other revenue | 12,887 | 8,434 | 12,887 | 8,434 |
Revenue | 83,970 | 77,661 | 83,970 | 77,661 |
Other income | 8,522 | 5,611 | 8,522 | 5,611 |
Profit expense applicable to revenue | (24,921) | (20,339) | (24,921) | (20,339) |
Directors' remuneration and staff costs | (7,093) | (6,078) | (7,093) | (6,078) |
Allowances for impairment loss on | ||||
receivables, net | (4,717) | (8,197) | (4,717) | (8,197) |
Depreciation of plant and equipment and | ||||
right-of-use ("ROU") assets | (914) | (846) | (914) | (846) |
Other expenses | (5,803) | (4,868) | (5,803) | (4,868) |
Finance costs | (53) | (57) | (53) | (57) |
Profit before tax | 48,991 | 42,887 | 48,991 | 42,887 |
Income tax expense | (12,113) | (10,660) | (12,113) | (10,660) |
Total comprehensive income | ||||
for the financial period | 36,878 | 32,227 | 36,878 | 32,227 |
Attributable to: | ||||
Owners of the Company | 36,878 | 32,227 | 36,878 | 32,227 |
Earnings per ordinary share (sen): | ||||
Basic | 5.03 | 4.40 | 5.03 | 4.40 |
Diluted | 5.02 | 4.39 | 5.02 | 4.39 |
The Condensed Statement of Comprehensive Income should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2023 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report |
Incorporated in Malaysia | for 1st Quarter Ended 30 June 2023 |
AS AT | AS AT | |
30.06.2023 | 31.03.2023 | |
RM'000 | RM'000 | |
ASSETS | ||
Non-Current Assets | ||
Plant and equipment | 6,724 | 7,241 |
ROU assets | 4,376 | 4,664 |
Goodwill on consolidation | 47,333 | 47,333 |
Financing receivables | 1,701,085 | 1,677,871 |
Deferred tax assets | 36,319 | 38,575 |
Total Non-Current Assets | 1,795,837 | 1,775,684 |
Current Assets | ||
Financing receivables | 224,427 | 221,541 |
Trade receivables | 53,217 | 53,918 |
Other receivables, deposits and prepaid expenses | 17,137 | 16,021 |
Deposits with licensed financial institutions | 851,930 | 799,886 |
Cash and bank balances | 83,615 | 79,781 |
Total Current Assets | 1,230,326 | 1,171,147 |
TOTAL ASSETS | 3,026,163 | 2,946,831 |
EQUITY AND LIABILITIES | ||
Equity attributable to owners of the Company | ||
Share capital | 201,917 | 201,917 |
Treasury shares | (4,948) | (4,948) |
Reserves | 590,152 | 608,690 |
Total Equity | 787,121 | 805,659 |
Non-Current Liabilities | ||
Payables and accrued expenses | 780 | 780 |
Hire-purchase payables | 1,073 | 1,160 |
Financing liabilities | 1,302,247 | 1,308,538 |
Lease liabilities | 1,789 | 2,025 |
Deferred tax liabilities | 1,212 | 1,111 |
Total Non-Current Liabilities | 1,307,101 | 1,313,614 |
Current Liabilities | ||
Payables and accrued expenses | 29,214 | 35,470 |
Hire-purchase payables | 357 | 379 |
Financing liabilities | 894,717 | 783,006 |
Lease liabilities | 927 | 915 |
Tax liabilities | 6,726 | 7,788 |
Total Current Liabilities | 931,941 | 827,558 |
Total Liabilities | 2,239,042 | 2,141,172 |
TOTAL EQUITY AND LIABILITIES | 3,026,163 | 2,946,831 |
NET ASSETS PER SHARE (RM) | 1.07 | 1.10 |
The Condensed Statement of Financial Position should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2023 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | |||||
Incorporated in Malaysia | for 1st Quarter Ended 30 June 2023 | |||||
CONDENSED STATEMENT OF CHANGES IN EQUITY | ||||||
Reserves | ||||||
Employees' | ||||||
Share | ||||||
Share | Treasury | Scheme | Retained | Total | ||
Capital | Shares | ("ESS") | Earnings | Reserves | Total | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
As at 1 April 2022 | 200,697 | (4,948) | 3,467 | 672,852 | 676,319 | 872,068 |
Total comprehensive income | - | - | - | 32,227 | 32,227 | 32,227 |
Transactions with owners | ||||||
Dividends | - | - | - | (29,287) | (29,287) | (29,287) |
Options under ESS exercised | - | - | (464) | 27 | (437) | (437) |
Issuance of shares pursuant to | ||||||
options exercised | 454 | - | - | - | - | 454 |
Cancellation of options | - | - | (5) | 5 | - | - |
Total transactions with owners | 454 | - | (469) | (29,255) | (29,724) | (29,270) |
As at 30 June 2022 | 201,151 | (4,948) | 2,998 | 675,824 | 678,822 | 875,025 |
As at 1 April 2023 | 201,917 | (4,948) | 1,187 | 607,503 | 608,690 | 805,659 |
Total comprehensive income | - | - | - | 36,878 | 36,878 | 36,878 |
Transactions with owners | ||||||
Dividends | - | - | - | (51,300) | (51,300) | (51,300) |
Options under ESS exercised | - | - | (1,113) | (3,003) | (4,116) | (4,116) |
Total transactions with owners | - | - | (1,113) | (54,303) | (55,416) | (55,416) |
As at 30 June 2023 | 201,917 | (4,948) | 74 | 590,078 | 590,152 | 787,121 |
The Condensed Statement of Changes in Equity should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2023 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | |
Incorporated in Malaysia | for 1st Quarter Ended 30 June 2023 | |
CONDENSED STATEMENT OF CASH FLOWS | ||
CUMULATIVE | CUMULATIVE | |
QUARTER | QUARTER | |
30.06.2023 | 30.06.2022 | |
RM'000 | RM'000 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit before tax | 48,991 | 42,887 |
Adjustments for: | ||
Allowances for impairment loss on receivables, net | 4,717 | 8,197 |
Depreciation of plant and equipment and ROU assets | 914 | 846 |
Finance costs | 53 | 57 |
Profit and interest income from deposits with licensed | ||
financial institutions | (6,681) | (3,550) |
Operating profit before working capital changes | 47,994 | 48,437 |
(Increase)/Decrease in working capital: | ||
Financing receivables | (30,837) | (30,553) |
Trade receivables | 721 | 53 |
Other receivables, deposits and prepaid expenses | 206 | 76 |
Increase in working capital: | ||
Payables and accrued expenses | 73 | 7,924 |
Cash generated from operations | 18,157 | 25,937 |
Taxes paid | (10,260) | (9,673) |
Net cash generated from operating activities | 7,897 | 16,264 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Profit and interest income from deposits with licensed | ||
financial institutions received | 6,681 | 3,550 |
Additions to plant and equipment | (115) | (579) |
Net cash generated from investing activities | 6,566 | 2,971 |
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RCE Capital Bhd published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2023 11:02:02 UTC.