SOUTHERN STEEL SOUTHERN STEEL BERHAD (196301000443 (5283-X))
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2020
The figures have not been audited
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE QUARTER ENDED 30 SEPTEMBER 2020
Individual Quarter | Cumulative Quarter | ||
Current Year | Preceding Year | Current Year- | Preceding Year |
Quarter | Corresponding | To-Date | Corresponding |
Quarter | Period | ||
30/9/2020 | 30/9/2019 | 30/9/2020 | 30/9/2019 |
RM'000 | RM'000 | RM'000 | RM'000 |
Revenue
Cost of sales
Gross profit/(loss)
Operating expenses
Other operating expense
Loss from operation
Interest income Finance costs
Share of profit/(loss) in associated companies, net of tax
Loss before taxation
Taxation
Loss for the period
(Loss)/Profit attributable to:
Owners of the Company
Non-controlling interests
Loss for the period
Loss per ordinary share (sen): -
- Basic
- Fully diluted
444,397 | 653,739 | 444,397 | 653,739 |
(419,002) | (653,765) | (419,002) | (653,765) |
25,395 | (26) | 25,395 | (26) |
(24,139) | (20,974) | (24,139) | (20,974) |
(19,215) | (10,520) | (19,215) | (10,520) |
(17,959) | (31,520) | (17,959) | (31,520) |
351 | 206 | 351 | 206 |
(10,791) | (14,070) | (10,791) | (14,070) |
33 | (506) | 33 | (506) |
(28,366) | (45,890) | (28,366) | (45,890) |
293 | 388 | 293 | 388 |
(28,073) | (45,502) | (28,073) | (45,502) |
(28,134) | (45,586) | (28,134) | (45,586) |
61 | 84 | 61 | 84 |
(28,073) | (45,502) | (28,073) | (45,502) |
(4.72) | (10.51) | (4.72) | (10.51) |
N/A | N/A | N/A | N/A |
The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Financial Statements for the Financial Year Ended 30 June 2020.
SSB/1
SOUTHERN STEEL BERHAD (196301000443 (5283-X))
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2020
The figures have not been audited
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE QUARTER ENDED 30 SEPTEMBER 2020 (cont'd)
Individual Quarter | Cumulative Quarter | ||
Current Year | Preceding Year | Current Year- | Preceding Year |
Quarter | Corresponding | To-Date | Corresponding |
Quarter | Period | ||
30/9/2020 | 30/9/2019 | 30/9/2020 | 30/9/2019 |
RM'000 | RM'000 | RM'000 | RM'000 |
Loss for the period
Item that will not be reclassified subsequently to profit or loss
Loss on fair value of equity instrument at fair value through other comprehensive income
Item that are or may be reclassified subsequently to profit or loss
Foreign currency translation differences for foreign operation
Cash flow hedge
Total comprehensive expense for the period
Total comprehensive (expense)/income attributable to:
Owners of the Company
Non-controlling interests
Total comprehensive expense for the period
(28,073) (45,502) (28,073) (45,502)
(36) | (172) | (36) | (172) |
(16) | 8 | (16) | 8 |
384 | 210 | 384 | 210 |
(27,741) | (45,456) | (27,741) | (45,456) |
(27,809) | (45,551) | (27,809) | (45,551) |
68 | 95 | 68 | 95 |
(27,741) | (45,456) | (27,741) | (45,456) |
The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Financial Statements for the Financial Year Ended 30 June 2020.
SSB/2
SOUTHERN STEEL BERHAD (196301000443 (5283-X))
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2020
The figures have not been audited
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2020
As At End of | As At End of | |
Current Quarter | Preceding Financial | |
Year | ||
30/9/2020 | 30/06/2020 | |
RM'000 | RM'000 | |
ASSETS | ||
Property, plant and equipment ("PPE") | 452,230 | 460,585 |
Rights-of-use assets ("ROU") | 421,115 | 426,075 |
Goodwill on consolidation | 30,256 | 30,256 |
Investments in associated companies | 11,961 | 11,928 |
Other investments | 309 | 345 |
Deferred tax assets | 33,083 | 32,639 |
Tax credit receivable | 19,941 | 19,941 |
Total non-current assets | 968,895 | 981,769 |
Inventories | 242,716 | 406,016 |
Trade and other receivables, including derivatives | 427,481 | 410,747 |
Current tax assets | 12,185 | 14,113 |
Cash and cash equivalents | 235,823 | 219,427 |
Asset to be returned to vendor | 369,377 | 369,377 |
Total current assets | 1,287,582 | 1,419,680 |
TOTAL ASSETS | 2,256,477 | 2,401,449 |
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY | ||
Share capital | 641,010 | 641,010 |
Reserves | 3,070 | 30,879 |
644,080 | 671,889 | |
NON-CONTROLLING INTERESTS | 6,446 | 6,378 |
TOTAL EQUITY | 650,526 | 678,267 |
LIABILITIES | ||
Lease liabilities | 24,715 | 25,622 |
Deferred tax liabilities | 24,920 | 24,983 |
Deferred income | 7,120 | 7,513 |
Employee benefits | 31,486 | 29,996 |
Loans and borrowings | - | - |
Total non-current liabilities | 88,241 | 88,114 |
Lease liabilities | 4,513 | 5,409 |
Employee benefits | 461 | 1,579 |
Provisions | 8,192 | 8,954 |
Trade and other payables, including derivatives | 221,677 | 178,118 |
Contract liability | 369,377 | 369,377 |
Loans and borrowings | 913,300 | 1,071,612 |
Current tax liabilities | 190 | 19 |
Total current liabilities | 1,517,710 | 1,635,068 |
TOTAL LIABILITIES | 1,605,951 | 1,723,182 |
TOTAL EQUITY AND LIABILITIES | 2,256,477 | 2,401,449 |
Net assets per share attributable to owners of the Company (RM) | 1.08 | 1.13 |
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Statements for the Financial Year Ended 30 June 2020.
SSB/3
SOUTHERN STEEL BERHAD (196301000443 (5283-X))
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2020
The figures have not been audited
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2020
Attributable to owners of the Company | ||||||||||||
Non-distributable | Distributable | |||||||||||
Share | Redeemable | Revaluation | Merger | Hedging | Exchange | Executive | Retained | Total | Non- | Total | ||
capital | convertible | reserve | reserve | reserve | fluctuation | share | earnings | controlling | equity | |||
unsecured loan | reserve | scheme | interests | |||||||||
stocks | reserve | |||||||||||
("RCULS") | ||||||||||||
(equity portion) | ||||||||||||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||
Current year-to-date | ||||||||||||
ended 30 September 2020 | ||||||||||||
At 1 July 2020 | 641,010 | - | 295,156 | 30,000 | 391 | 1,845 | - | (296,513) | 671,889 | 6,378 | 678,267 | |
(Loss)/Profit for the period | - | - | - | - | - | - | - | (28,134) | (28,134) | 61 | (28,073) | |
Other comprehensive | ||||||||||||
income/(expense): | ||||||||||||
- Loss on fair value of | ||||||||||||
equity instruments | - | - | - | - | - | - | - | (36) | (36) | - | (36) | |
- Foreign currency | ||||||||||||
translation differences | - | - | - | - | - | (16) | - | - | (16) | - | (16) | |
- Cash flow hedge | - | - | - | - | 377 | - | - | - | 377 | 7 | 384 | |
Total comprehensive | ||||||||||||
income/(expense) for the | ||||||||||||
period | - | - | - | - | 377 | (16) | - | (28,170) | (27,809) | 68 | (27,741) | |
At 30 September 2020 | 641,010 | - | 295,156 | 30,000 | 768 | 1,829 | - | (324,683) | 644,080 | 6,446 | 650,526 |
SSB/4
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Southern Steel Bhd published this content on 23 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 13:20:06 UTC
