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    I11   SG1C67001091

RENAISSANCE UNITED LIMITED

(I11)
  Report
Delayed Singapore Stock Exchange  -  05/17 01:07:50 am EDT
0.001000 SGD   -50.00%
03/18Renaissance United Swings to Loss in Fiscal Q3 as Revenue Slips 28%
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03/17Renaissance United Limited Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2022
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03/15Renaissance United Warns of Losses in Three Months, Nine Months to January
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Financial Statements and Related Announcement::First Quarter Results

10/18/2021 | 10:22am EDT

Renaissance United Limited

(Incorporated in Singapore. Registration Number. 199202747M)

Condensed Interim Financial Statements and Dividend Annoucement Annoucement

For the Three Months ended 31 July 2021 ("1QFY22").

Table of Contents

Page

  1. Condensed interim consolidated statement of profit or loss and

other comprehensive income

2

B.

Condensed interim statements of financial position

3

C.

Condensed interim statements of changes in equity

4

D.

Condensed interim consolidated statement of cash flows

5

E.

Notes to the condensed interim consolidated financial statements

6

F.

Other information required by Listing Rule Appendix 7.2

18

RENAISSANCE UNITED LIMITED

(Registration No. 199202747M)

Condensed Interim Financial Statements and Dividend Announcement

for the Three Months ended 31 July 2021 ("1QFY22").

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

Group

3 Months

3 Months

%

to 31/07/21

to 31/07/20

Increase/

Note

S$'000

S$'000

(Decrease)

Revenue

Sale of goods

4

4,160

4,470

(6.9)

Sale of land lots

-

-

-

Natural gas installation, connection, delivery and usage

4

10,186

9,179

11.0

14,346

13,649

5.1

Other items of income

Fair value gain of financial assets, at fair value through profit or loss

-

7

nm

Interest income

7

36

(80.6)

Other income

393

178

nm

Total revenue

400

221

81.0

Operating expenses

Changes in inventories

986

(103)

nm

Raw materials and consumables used

(11,309)

(8,902)

27.0

Amortisation of intangible assets

(329)

(346)

(4.9)

Depreciation of property, plant and equipment

(939)

(920)

2.1

Fair value loss of financial assets, at fair value through profit or loss

(3)

-

nm

Impairment loss of trade and other receivables and convertible loan

(18)

(80)

(77.5)

Foreign exchange loss, net

-

(769)

nm

Employee benefits expenses

(1,501)

(1,363)

10.1

Finance Costs

(263)

(246)

6.9

Lease expenses

(3)

(13)

(76.9)

Other expenses

(732)

(959)

(23.7)

Total expenses

(14,111)

(13,701)

3.0

Profit before income tax

5

635

169

nm

Income tax expense

6

(158)

(82)

92.7

Profit for the financial period

477

87

nm

Other comprehensive income/(loss) :

Items that may be reclassified subsequently to profit or loss :

Exchange differences on translation of foreign operations arising from consolidation

847

(263)

nm

Items that will not be reclassified subsequently to profit or loss :

Exchange differences on translation of foreign operations arising from consolidation

4

(1)

nm

Other comprehensive income/(loss) for the financial period, net of tax

851

(264)

nm

Total comprehensive income/(loss) for the financial period

1,328

(177)

nm

Profit/(loss) attributable to :

Equity holders of the Company

286

(270)

nm

Non-controlling interests

191

357

(46.5)

477

87

nm

Total comprehensive income/(loss) attributable to :

Equity holders of the Company

1,133

(533)

nm

Non-controlling interests

195

356

(45.2)

1,328

(177)

nm

Earnings/(loss) per share for loss attributable to equity holders of the Company

Basic and diluted (in cents)

0.005

(0.004)

nm-not meaningful

2

RENAISSANCE UNITED LIMITED

(Registration No. 199202747M)

Condensed Interim Financial Statements and Dividend Announcement

for the Three Months ended 31 July 2021 ("1QFY22").

B. Condensed interim statements of financial position

Group

Group

Company

Company

As at

As at

As at

As at

31/07/21

30/04/21

31/07/21

30/04/21

Note

S$'000

S$'000

S$'000

S$'000

Non-current assets

Intangible assets

7

13,113

13,193

-

-

Property, plant and equipment

8

78,964

76,945

14

15

Investment in subsidiaries

-

-

48,508

48,508

Trade and other receivables

2,850

2,794

-

-

Deferred tax assets

467

459

-

-

95,394

93,391

48,522

48,523

Current assets

Inventories

2,636

1,651

-

-

Development property

9

4,264

4,209

-

-

Trade and other receivables

13,313

13,744

49

51

Financial assets, at fair value through profit or loss

549

553

501

502

Cash and cash equivalents

10

18,142

18,203

1,115

1,258

38,904

38,360

1,665

1,811

Total Assets

134,298

131,751

50,187

50,334

Current liabilities

Trade and other payables

17,155

16,746

6,786

6,778

Provisions

59

71

6

6

Current income tax payable

957

953

-

-

Borrowings

11

12,563

13,340

4

4

Contract liabilities

12

21,817

19,536

-

-

52,551

50,646

6,796

6,788

Net current liabilities

(13,647)

(12,286)

(5,131)

(4,977)

Non-current liabilities

Borrowings

11

8,760

9,503

8

9

Deferred tax liabilities

3,024

2,967

-

-

11,784

12,470

8

9

Total Liabilities

64,335

63,116

6,804

6,797

NET ASSETS

69,963

68,635

43,383

43,537

Equity

Share capital

13

265,811

265,811

265,811

265,811

Other reserves

14

(17,962)

(18,809)

1,961

1,961

Accumulated losses

(194,226)

(194,512)

(224,389)

(224,235)

Equity attributable to equity holders of the Company

53,623

52,490

43,383

43,537

Non-controlling interests

16,340

16,145

-

-

TOTAL EQUITY

69,963

68,635

43,383

43,537

3

RENAISSANCE UNITED LIMITED

(Registration No. 199202747M)

Condensed Interim Financial Statements and Dividend Announcement

for the Three Months ended 31 July 2021 ("1QFY22").

C. Condensed interim statements of changes in equity

Equity

attributable

Foreign

to equity

exchange

Capital

Equity -

Accumulat

holders

Non-

Share

translation

reduction

Non-

ed

of the

controlling

Total

capital

reserve

reserve

controlling

losses

Company

interests

equity

Group

S$'000

S$'000

S$'000

interests

S$'000

S$'000

S$'000

S$'000

Balance at 1 May 2021

265,811

(15,519)

1,961

(5,251)

(194,512)

52,490

16,145

68,635

Profit for the financial period

-

-

-

-

286

286

191

477

Other comprehensive income

for the financial period:

Exchange differences on

translation of foreign operations

-

847

-

-

-

847

4

851

Total comprehensive income

for the financial period

-

847

-

-

286

1,133

195

1,328

Balance at 31 July 2021

265,811

(14,672)

1,961

(5,251)

(194,226)

53,623

16,340

69,963

Balance at 1 May 2020

265,811

(17,088)

1,961

(5,251)

(189,110)

56,323

15,277

71,600

(Loss)/profit for the financial

period

-

-

-

-

(270)

(270)

357

87

Other comprehensive loss for

the financial period :

Exchange differences on

translation of foreign operations

-

(263)

-

-

-

(263)

(1)

(264)

Total comprehensive

(loss)/income for the financial

period

-

(263)

-

-

(270)

(533)

356

(177)

Transactions with non-

controlling interests

-

-

-

98

-

98

(98)

-

Balance at 31 July 2020

265,811

(17,351)

1,961

(5,153)

(189,380)

55,888

15,535

71,423

Share

Capital reduction

Accumulated

Total

capital

reserve

losses

equity

Company

S$'000

S$'000

S$'000

S$'000

Balance at 1 May 2021

265,811

1,961

(224,235)

43,537

Loss and total comprehensive

income for the financial period

-

-

(154)

(154)

Balance at 31 July 2021

265,811

1,961

(224,389)

43,383

Balance at 1 May 2020

265,811

1,961

(224,902)

42,870

Loss and total comprehensive

income for the financial period

-

-

(30)

(30)

Balance at 31 July 2020

265,811

1,961

(224,932)

42,840

4

RENAISSANCE UNITED LIMITED

(Registration No. 199202747M)

Condensed Interim Financial Statements and Dividend Announcement

for the Three Months ended 31 July 2021 ("1QFY22").

D. Condensed interim consolidated statement of cash flows

3 Months

3 Months

to 31/07/21

to 31/07/20

S$'000

S$'000

Cash flows from operating activities

Profit before income tax

635

169

Adjustments for:

Impairment loss of trade and other receivables and convertible loan, net

18

80

Amortisation of intangible assets

329

346

Depreciation of property, plant and equipment

939

920

Interest expenses

180

213

Interest income

(7)

(36)

Interest expenses on lease liabilities

11

12

Provisions made during the financial period

10

3

Fair value gain/(loss) on financial assets, at fair value through profit or loss

3

(7)

Unrealised foreign exchange (gain)/loss

(353)

755

Operating cash flows before working capital changes

1,765

2,455

Changes in working capital :

Inventories

(982)

(1,018)

Development property

(4)

(20)

Trade and other receivables

436

(1,185)

Trade and other payables and contract liabilities

1,864

3,181

Provisions

(22)

(40)

Cash generated from operations

3,057

3,373

Interest received

7

15

Interest paid on bank overdrafts

(22)

(13)

Net income tax paid

(158)

(228)

Net cash generated from operating activities

2,884

3,147

Cash flows from investing activities

Purchase of property, plant and equipment

(766)

(1,064)

Net cash used in investing activities

(766)

(1,064)

Cash flows from financing activities

Proceeds from borrowings

-

611

Repayments of borrowings

(1,781)

(4,178)

Repayment of lease liabilities

(2)

(98)

Interest paid on borrowings

(147)

(200)

Interest paid on lease liabilities

(95)

(12)

Net cash used in financing activities

(2,025)

(3,877)

Net increase/(decrease) in cash and cash equivalents

93

(1,794)

Cash and cash equivalents at beginning of financial period

12,872

8,933

Effects of exchange rate changes in cash and cash equivalents

196

(120)

Cash and cash equivalents at end of the financial period

13,161

7,019

5

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Disclaimer

Renaissance United Limited published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 14:21:04 UTC.


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Financials
Sales 2021 72,6 M 52,6 M 52,6 M
Net income 2021 -5,40 M -3,91 M -3,91 M
Net Debt 2021 6,69 M 4,84 M 4,84 M
P/E ratio 2021 -3,44x
Yield 2021 -
Capitalization 6,18 M 4,47 M 4,47 M
EV / Sales 2020 0,39x
EV / Sales 2021 0,35x
Nbr of Employees -
Free-Float 75,2%
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James Moffatt Blythman Chief Financial Officer & Executive Director
Sazali bin Mohd Nor Independent Non-Executive Director
Aswath Ramakrishnan Independent Non-Executive Director
Beng San Koh Independent Non-Executive Director
Poh Chye Tan Secretary
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