Financial Statements and Related Announcement::Half Yearly Results

Reclaims Global Limited

绿达环球有限公司

Company Registration No. 201834755M

Registered Address: 10 Tuas South Street 7 Singapore 637114

Unaudited Half Year Financial Statements and Dividend Announcement

For the Financial Period Ended 31 July 2021 ("1H2022")

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Lee Khai Yinn (Telephone no.: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Reclaims Global Limited (the "Company" and together with its subsidiaries, the "Group") was listed on the Catalist of the SGX-ST on 11 March 2019, pursuant to an initial public offering (the "IPO") exercise. The Group is an eco-friendly integrated service provider in the construction industry, specialising in the recycling of construction and demolition waste, customisation of excavation solutions and operating fleet management. The Group's business is organised into three main business segments as follows: (1) recycling; (2) excavation services; and (3) logistics and leasing. Since 2009, the Group has built an established reputation and a proven track record for effective execution and timely delivery of services of different nature and scales.

Reclaims Global Limited
For the Financial Period Ended 31 July 2021
________________________________________________________________________________________________________
Table of Contents
A. Condensed interim consolidated statement of profit or loss and other comprehensive income…......... 3
B. Condensed interim statements of financial position .............................................................................	4
C. Condensed interim consolidated statement of cash flows ...................................................................	5
D. Condensed interim statements of changes in equity ...........................................................................	6
E. Notes to the condensed interim consolidated financial statements .....................................................	7
F. Other information required by Catalist Rule Appendix 7C ...................................................................	13

2

Reclaims Global Limited

For the Financial Period Ended 31 July 2021

________________________________________________________________________________________________________

A) Condensed interim consolidated statement of profit or loss and other comprehensive income

		Group
	6 months	6 months		Increase/
	ended	ended		(Decrease)
	31 July 2021	31 July 2020	%
	S$'000	S$'000
Revenue	18,759	8,239	127.7
Interest income	1	4	(75.0)
Other gains	570	671	(15.1)
Cost of materials, services and consumables	(9,122)	(3,513)	159.7
Other losses	(10)	(133)	(92.5)
Finance costs	(55)	(55)	-
Depreciation expense	(925)	(1,065)	(13.1)
Depreciation of right-of-use-asset	(126)	(127)	(0.8)
Employee benefits expense	(3,231)	(2,441)	32.4
Other expenses	(1,851)	(1,444)	28.2
Profit before tax from continuing operations	4,010	136		N.M.
Income tax expense	(595)	(77)	672.7
Profit from continuing operations, net of tax and
total comprehensive income	3,415	59		N.M.

Other comprehensive income:

Foreign currency translation

Profit, net of tax and total comprehensive income attributable to owners of the Company

Earnings per share ("EPS") for profit of the period attributable to the owners of the Company during the year:

5	-		N.M.
3,420	59		N.M.

Basic and diluted* (SGD in cent)

2.61

0.05

• Diluted EPS is the same as basic EPS as no potential dilutive ordinary shares exist during the respective financial periods.

N.M. - Not meaningful.

3

Reclaims Global Limited

For the Financial Period Ended 31 July 2021

________________________________________________________________________________________________________

B) Condensed interim statements of financial position

Group			Company
As at	As at	As at	As at
31 July	31 January	31 July	31 January
2021	2021	2021	2021
S$'000	S$'000	S$'000	S$'000

ASSETS Non-current assets Property, plant and equipment Right-of-use asset Investment in subsidiaries Total non-current assets

Current assets

Inventories

Trade and other receivables Other assets, current Cash and cash equivalents Total current assets

Total assets

EQUITY AND LIABILITIES Equity

Share capital

Retained earnings

Other reserve

Total equity

Non-current liabilities Deferred tax liabilities Loans and borrowings Lease liabilities, non-current Total non-current liabilities

Current liabilities Income tax payable Loans and borrowings Lease liabilities, current Trade and other payables Total current liabilities

Total liabilities

9,794	10,374	-	-
3,610	3,736	-	-
-	-	15,327	15,327
13,404	14,110	15,327	15,327
39	30	-	-
9,825	8,619	4,260	5,726
1,637	3,298	15	8
10,491	7,975	377	166
21,992	19,922	4,652	5,900
35,396	34,032		19,979		21,227

19,388	19,388	19,388	19,388
6,730	4,625	371	1,654
4	(1)	-	-
26,122	24,012	19,759	21,042
428	635	-	-
874	2,253	-	-
419	258	-	-
1,721	3,146	-	-
1,108	868	-	-
1,124	1,127	-	-
637	599	-	-
4,684	4,280	220	185
7,553	6,874	220	185
9,274	10,020	220	185

	Total equity and liabilities		35,396		34,032		19,979		21,227

4

Reclaims Global Limited

For the Financial Period Ended 31 July 2021

________________________________________________________________________________________________________

C) Condensed interim consolidated statement of cash flows

Group

6 months	6 months
ended	ended
31 July 2021	31 July 2020
S$'000	S$'000

Cash flows from operating activities

Profit before tax

Adjustments for: Interest income Interest expense

Depreciation of property, plant and equipment Depreciation of right-of-use-asset

Gain on disposal of plant and equipment

Net effect of exchange rate changes in consolidating subsidiary

Operating cash flows before changes in working capital Inventories

Trade and other receivables Other assets, current Trade and other payables Net cash flows from operations Income taxes paid

Net cash flows from operating activities

Cash flows from investing activities

Purchase of plant and equipment

Proceeds from disposal of plant and equipment Interest received

Net cash flows from/(used in) investing activities

Cash flows from financing activities

Dividends paid

Interest paid

Repayment of borrowings

Increase in finance lease liabilities

Lease liabilities - principal portion paid

Net cash flows used in financing activities

Net increase in cash and cash equivalents Cash and cash equivalents, beginning balance Cash and cash equivalents, ending balance

Cash and cash equivalents comprise:

Not restricted in use

Cash pledged for bank facility

4,010 136

1. (4)

5555

1. 1,065

1. 127

1. (23)

• 1

4,904 1,357

1. (37)
   (1,206) 2,148

1,661 2,078

564 (2,649)

5,914 2,897

1. (38)

5,352 2,859

1. (771)

1. 23

14

1. (744)

(1,310) (498)

1. (55)

(1,381) (417)

• 466

1. (226)
   (3,095) (730)

2,516 1,385

7,975 4,008

10,491 5,393

10,491 5,393

• 325
  10,491 5,718

5