TIME dotCom : Financial Statements

TIME DOTCOM BERHAD

Registration No. 199601040939 (413292-P)

Incorporated in Malaysia

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2023

1. CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		INDIVIDUAL QUARTER		CUMULATIVE QUARTER
		Unaudited		Unaudited
		Current		Preceding year		Unaudited		Unaudited
		year		corresponding		Three		Three
		quarter		quarter		months to		months to
		31/03/2023	31/03/2022	31/03/2023	31/03/2022
		RM'000		RM'000		RM'000		RM'000
				Restated				Restated
Continuing operations
Operating revenue	368,423	346,536	368,423	346,536
Operating expenses
- depreciation and amortisation of property, plant and
equipment and right-of-use assets	(41,016)	(34,832)	(41,016)	(34,832)
- other operating expenses	(207,612)	(202,639)	(207,612)	(202,639)
Other operating income (net)	7,566		417		7,566		417
Profit from operations	127,361	109,482	127,361	109,482
Income from investments	2,421	2,359	2,421	2,359
Finance costs	(4,619)	(5,106)	(4,619)	(5,106)
Share of profit from associates, net of tax	7,015		5,850		7,015		5,850
Profit before tax	132,178	112,585	132,178	112,585
Tax expense	(28,394)		(28,749)		(28,394)		(28,749)
Profit from continuing operations	103,784	83,836	103,784	83,836
Discontinued operations
Profit from discontinued operations, net of tax	10,637		7,483		10,637		7,483
Profit for the period	114,421	91,319	114,421	91,319
Profit / (loss) attributable to:
Owners of the Company	114,510	90,645	114,510	90,645
Non-controlling interests	(89)		674		(89)		674
Profit for the period		114,421		91,319		114,421		91,319

The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.

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TIME DOTCOM BERHAD

Registration No. 199601040939 (413292-P)

Incorporated in Malaysia

1. CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED)

INDIVIDUAL QUARTER

CUMULATIVE QUARTER

Unaudited

Unaudited

Current

Preceding year

Unaudited

Unaudited

year

corresponding

Three

Three

quarter

quarter

months to

months to

31/03/2023

31/03/2022

31/03/2023

31/03/2022

RM'000

RM'000

RM'000

RM'000

Restated

Restated

Profit for the period

114,421

91,319

114,421

91,319

Other comprehensive income, net of tax:

Items that may be reclassified subsequently to

profit or loss

- Foreign currency translation differences for foreign

operations *

7,528

86

7,528

86

- Cash flow hedge - associate

27

58

27

58

7,555

144

7,555

144

Items that will not be reclassified subsequently to

profit or loss

- Net change in fair value of equity investments

designated at fair value through other

comprehensive income ("FVOCI")

(402)

2,286

(402)

2,286

- Remeasurement of defined benefit plan - associate

473

-

473

-

71

2,286

71

2,286

Total other comprehensive income for the period,

net of tax

7,626

2,430

7,626

2,430

Total comprehensive income for the period

122,047

93,749

122,047

93,749

Total comprehensive income attributable to:

Owners of the Company

122,136

93,075

122,136

93,075

Non-controlling interests

(89)

674

(89)

674

Total comprehensive income for the period

122,047

93,749

122,047

93,749

Earnings per share (based on weighted average

number of ordinary shares)

- Basic

from continuing operations

5.65 sen

4.56 sen

5.65 sen

4.56 sen

from discontinued operations

0.58 sen

0.41 sen

0.58 sen

0.41 sen

6.23 sen

4.97 sen

6.23 sen

4.97 sen

- Diluted

from continuing operations

5.65 sen

4.55 sen

5.65 sen

4.55 sen

from discontinued operations

0.58 sen

0.41 sen

0.58 sen

0.41 sen

6.23 sen

4.96 sen

6.23 sen

4.96 sen

• Inclusive in foreign currency translation differences for foreign operations is net loss of RM449,000 and net gain of RM20,000 in current quarter and preceding year corresponding quarter respectively from discontinued operations.

The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.

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TIME DOTCOM BERHAD

Registration No. 199601040939 (413292-P)

Incorporated in Malaysia

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

ASSETS

Non-current assets

Property, plant and equipment

Investment property

Right-of-use assets

Intangible assets

Investment in associates

Other investments

Deferred tax assets

Trade and other receivables

Current assets

Tax recoverable

Trade and other receivables

Restricted cash

Cash and cash equivalents

Assets classified as held for sale

Total assets

EQUITY AND LIABILITIES

Equity

Share capital

Reserves

Equity attributable to owners of the Company

Non-controlling interests

Total equity

Non-current liabilities

Loans and borrowings

Lease liabilities

Trade and other payables

Deferred tax liabilities

Current liabilities

Loans and borrowings

Lease liabilities

Trade and other payables

Provision for tax

Liabilities classified as held for sale

Total liabilities

Total equity and liabilities

Net assets per share attributable to ordinary owners of the Company

Unaudited As at 31/03/2023

RM'000

1,609,128

1,436

97,034

140,126

501,763

54,625

31,704

1,773

2,437,589

2,549

615,776

4,162

461,007

1,083,494

754,474

1,837,968

4,275,557

1,425,151

1,533,719

2,958,870

25,854

2,984,724

10,255

66,053

340,531

114,424

531,263

210,289

10,993

365,399

6,166

592,847

166,723

759,570

1,290,833

4,275,557

RM1.61

Audited As at 31/12/2022

RM'000

1,572,331

1,445

95,157

140,127

486,781

55,027

27,574

1,814

2,380,256

3,789

563,837

4,161

484,635

1,056,422

752,711

1,809,133

4,189,389

1,418,562

1,683,225

3,101,787

25,943

3,127,730

12,665

66,826

327,452

92,338

499,281

16,935

9,875

359,476

2,868

389,154

173,224

562,378

1,061,659

4,189,389

RM1.70

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.

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TIME DOTCOM BERHAD

Registration No. 199601040939 (413292-P)

Incorporated in Malaysia

1. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Operating Activities

Cash receipts from customers

Transfer to / (from) restricted cash

Cash payments to suppliers

Cash payments to employees and for administrative expenses

Cash generated from operations

Tax paid

Tax refunded

Net cash generated from operating activities

Investing Activities

Acquisition of property, plant and equipment

Proceeds from disposal of property, plant and equipment

Investment income received

Net cash used in investing activities

Financing Activities

Drawdown from loans and borrowings

Repayment of loans and borrowings

Finance charges paid

Payment of lease liabilities

Proceeds from issuance of additional shares

Shareholder loan from an associate

Repayment from previous associate

Dividend paid

Net cash used in financing activities

Net change in cash and cash equivalents
Effect of exchange rate fluctuations on cash held
Cash and cash equivalents as at beginning of financial period
Transfer to asset held for sale
Cash and cash equivalents as at end of financial period	Note (a)

Note:

1. Cash and cash equivalents comprise the following amounts: Cash and bank balances
   Deposits with licensed banks
   Restricted cash
   Cash and cash equivalents in the statement of financial position

Unaudited Three months to 31/03/2023

RM'000

392,118

41

(157,290)

(87,113)

147,756

(10,145)

-

137,611

(92,623)

30

1,991

(90,602)

200,000

(10,507)

(1,353)

(8,074)

4,827

619

108

(270,085)

(84,465)

(37,456)

552

524,990

(27,079)

461,007

160,512

304,657

465,169

(4,162)

461,007

Unaudited Three months to 31/03/2022

RM'000

Restated

340,808

(2)

(122,284)

(78,968)

139,554

(5,672)

4

133,886

(65,814)

70

2,423

(63,321)

-

(5,644)

(804)

(31,796)

-

-

188

(240,069)

(278,125)

(207,560)

(739)

796,090

(12,014)

575,777

169,121

410,954

580,075

(4,298)

575,777

The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.

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TIME DOTCOM BERHAD

Registration No. 199601040939 (413292-P)

Incorporated in Malaysia

1. CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

			Attributable to the owners of the Company
			Non-distributable		Distributable
			Foreign				Equity
			Currency	Share Grant/			attributable to	Non-
	Share	FVOCI	Translation	Option	Hedging	Retained	owners of the	controlling
Three months to	Capital	Reserve	Reserve	Reserves	Reserve	Earnings	Company	Interest	Total Equity
31 March 2023 (Unaudited)	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
Balance as at 1 January 2023	1,418,562	39,096	29,610	3,114	(84)	1,611,489	3,101,787	25,943	3,127,730

Dividend paid

Employee share grant option scheme

Issuance of shares pursuant to the share option granted

Profit for the period

Fair value loss on equity investments designated at fair value through other comprehensive income ("FVOCI")

Exchange differences recognised directly in equity

Cash flow hedge - associate

Remeasurement of defined benefit plan

Total comprehensive income for the period

Balance as at 31 March 2023

-	-	-	-	-	(270,085)	(270,085)	-	(270,085)
-	-	-	205	-	-	205	-	205
6,589	-	-	(1,762)	-	-	4,827	-	4,827
-	-	-	-	-	114,510	114,510	(89)	114,421
-	(402)	-	-	-	-	(402)	-	(402)
-	-	7,528	-	-	-	7,528	-	7,528
-	-	-	-	27	-	27	-	27
-	-	-	-	-	473	473	-	473
-	(402)	7,528	-	27	114,983	122,136	(89)	122,047
1,425,151	38,694	37,138	1,557	(57)	1,456,387	2,958,870	25,854	2,984,724

The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.

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