RCE Capital Berhad : Q3 Quarter Report for Financial Year Ended 2022

RCE Capital Berhad

Registration No: 195301000151 (2444-M)			Interim Financial Report
Incorporated in Malaysia		for 3rd Quarter Ended 31 December 2021
SUMMARY OF KEY FINANCIAL INFORMATION FOR THE FINANCIAL PERIOD
ENDED 31 DECEMBER 2021
		INDIVIDUAL QUARTER CUMULATIVE QUARTER
		31.12.2021	31.12.2020	31.12.2021	31.12.2020
		RM'000	RM'000	RM'000	RM'000
1.	Revenue	76,896	77,855	224,753	218,495
2.	Profit before tax	46,351	46,679	135,804	121,423
3.	Profit for the financial period	34,700	34,756	101,632	90,572

4. Profit attributable to ordinary equity holders

	of the Parent	34,700	34,756	101,632	90,572
5.	Basic earnings per
	ordinary share (sen)	9.50	9.72	27.97	25.52
6.	Proposed/Declared dividend
	per share (sen)	-	-	7.00	6.00
		AS AT END OF	AS AT PRECEDING
			CURRENT		FINANCIAL
			QUARTER		YEAR END
7.	Net assets per share attributable
	to ordinary equity holders of
	the Parent (RM)		2.30		2.15
		INDIVIDUAL QUARTER CUMULATIVE QUARTER
		31.12.2021	31.12.2020	31.12.2021	31.12.2020
		RM'000	RM'000	RM'000	RM'000
8.	Gross interest income	116	57	211	690
9.	Gross interest expense	66	75	203	219

RCE Capital Berhad

Registration No: 195301000151 (2444-M)					Interim Financial Report
Incorporated in Malaysia			for 3rd Quarter Ended 31 December 2021
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
	INDIVIDUAL QUARTER		CUMULATIVE QUARTER
	3 MONTHS ENDED		9 MONTHS ENDED
	31.12.2021	31.12.2020	31.12.2021	31.12.2020
	RM'000		RM'000		RM'000		RM'000
Profit income	68,998	71,626	204,267	203,235
Other revenue	7,898		6,229		20,486		15,260
Revenue	76,896	77,855	224,753	218,495
Other income	5,517	4,346	14,676	14,775
Profit expense applicable to revenue	(19,947)	(19,876)	(60,184)	(60,465)
Directors' remuneration and staff costs	(9,852)	(8,387)	(21,458)	(19,348)
Allowances for impairment loss on
receivables, net	(1,863)	(2,076)	(5,685)	(14,945)
Depreciation of plant and equipment and
right-of-use ("ROU") assets	(917)	(789)	(2,619)	(2,359)
Other expenses	(3,417)	(4,319)	(13,476)	(14,511)
Finance costs	(66)	(75)	(203)	(219)
Profit before tax
46,351		46,679		135,804		121,423
Income tax expense	(11,651)	(11,923)	(34,172)	(30,851)
Total comprehensive income
for the financial period	34,700	34,756	101,632	90,572
Other comprehensive (loss)/income that
may be reclassified subsequently
to profit or loss:
Foreign currency translations	-	(1)	1	(2)
Other comprehensive (loss)/income for
the financial period, net of tax	-	(1)	1	(2)
Total comprehensive income
for the financial period	34,700	34,755	101,633	90,570
Attributable to:
Owners of the Parent	34,700	34,756	101,632	90,572
Earnings per ordinary share (sen):
Basic	9.50		9.72		27.97		25.52
Diluted	9.45	9.72	27.87	25.52

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 2021 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 3rd Quarter Ended 31 December 2021
CONDENSED STATEMENT OF FINANCIAL POSITION
	AS AT		AS AT
	31.12.2021	31.03.2021
	RM'000		RM'000
ASSETS
Non-Current Assets
Plant and equipment
7,441		7,316
ROU assets	4,287		4,793
Goodwill on consolidation	47,333		47,333
Financing receivables	1,546,568		1,535,157
Deferred tax assets	39,615		43,181
Total Non-Current Assets	1,645,244		1,637,780
Current Assets
Financing receivables
200,382		186,023
Trade receivables	53,278		54,207
Other receivables, deposits and prepaid expenses	13,902		14,795
Deposits with licensed financial institutions	700,192		570,983
Cash and bank balances	24,272		26,918
Total Current Assets	992,026		852,926
TOTAL ASSETS	2,637,270	2,490,706
EQUITY AND LIABILITIES
Equity attributable to owners of the Parent
Share capital	200,644		188,026
Treasury shares	(25,911)		(25,911)
Reserves	665,835		611,916
Total Equity	840,568		774,031
Non-Current Liabilities
Payables and accrued expenses
1,149		1,695
Hire-purchase payables	393		307
Financing liabilities	1,072,090		1,143,782
Lease liabilities	3,002		3,628
Deferred tax liabilities	1,321		1,221
Total Non-Current Liabilities	1,077,955		1,150,633
Current Liabilities
Payables and accrued expenses	26,428		29,292
Hire-purchase payables	284		341
Financing liabilities	679,806		526,837
Lease liabilities	828		792
Tax liabilities	11,401		8,780
Total Current Liabilities	718,747		566,042
Total Liabilities	1,796,702		1,716,675
TOTAL EQUITY AND LIABILITIES	2,637,270	2,490,706
NET ASSETS PER SHARE (RM)	2.30	2.15

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 2021 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 3rd Quarter Ended 31 December 2021
CONDENSED STATEMENT OF CHANGES IN EQUITY
			Employees'	Reserves
			Share	Exchange
	Share	Treasury	Scheme	Translation	Retained	Total
	Capital	Shares	("ESS")	Reserve	Earnings	Reserves	Total
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
As at 1 April 2020	172,238	(25,911)	2,006	1	525,030	527,037	673,364
Total comprehensive (loss)/income	-	-	-	(2)	90,572	90,570	90,570
Transactions with owners
Dividends	-	-	-	-	(42,785)	(42,785)	(42,785)
Share options granted under ESS	-	-	3,033	-	-	3,033	3,033
Issuance of shares pursuant to
ESS exercised	10,239	-	(1,916)	-	1,916	-	10,239
Cancellation of share options	-	-	(90)	-	90	-	-
Total transactions with owners
10,239	-	1,027	-	(40,779)	(39,752)	(29,513)
As at 31 December 2020
182,477	(25,911)	3,033	(1)	574,823	577,855	734,421
As at 1 April 2021	188,026	(25,911)	2,136	(1)	609,781	611,916	774,031
Total comprehensive income	-	-	-	1	101,632	101,633	101,633
Transaction with owners
Dividends	-	-	-	-	(51,069)	(51,069)	(51,069)
Share options granted under ESS	-	-	3,355	-	-	3,355	3,355
Issuance of shares pursuant to ESS
exercised	12,618	-	(1,919)	-	1,919	-	12,618
Cancellation of share options	-	-	(7)	-	7	-	-
Total transaction with owners
12,618	-	1,429	-	(49,143)	(47,714)	(35,096)
As at 31 December 2021
200,644	(25,911)	3,565	-	662,270	665,835	840,568

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 2021 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 3rd Quarter Ended 31 December 2021
CONDENSED STATEMENT OF CASH FLOWS
	CUMULATIVE		CUMULATIVE
		QUARTER		QUARTER
	31.12.2021	31.12.2020
		RM'000		RM'000
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax	135,804	121,423
Adjustments for:
Allowances for impairment loss on receivables, net	5,685	14,945
Share options granted under ESS	3,355	3,033
Depreciation of plant and equipment and ROU assets	2,619	2,359
Finance costs	203	219
Plant and equipment written off	2	-
Profit and interest income from deposits with licensed
financial institutions	(8,820)	(9,487)
Gain on disposal of plant and equipment	(176)	-
Lease payment incentive	-	(17)
Operating profit before working capital changes	138,672	132,475
(Increase)/Decrease in working capital:
Financing receivables	(31,467)	(29,784)
Trade receivables	941	(50,116)
Other receivables, deposits and prepaid expenses	2,410	(25,558)
Increase in working capital:
Payables and accrued expenses	6,882	6,102
Cash generated from operations	117,438	33,119
Taxes paid	(27,986)	(25,656)
Taxes refunded	224	-
Net cash generated from operating activities	89,676	7,463
CASH FLOWS FROM INVESTING ACTIVITIES
Profit and interest income from deposits with licensed
financial institutions received	8,820	9,487
Proceeds from disposal of plant and equipment	180	-
Additions to plant and equipment	(1,805)	(1,467)
Additions of ROU assets under hire-purchase	(407)	-
Net cash generated from investing activities		6,788		8,020