UEM Edgenta Berhad : Quarterly rpt on consolidated results for the financial period ended 30 Jun 2021 - UEMEd - Q2 2021

UEM EDGENTA BERHAD

Company No. 196301000166 (5067-M)

Incorporated in Malaysia

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2021. THE FIGURES HAVE NOT BEEN AUDITED.

I(A). CONDENSED CONSOLIDATED INCOME STATEMENT

		INDIVIDUAL QUARTER		CUMULATIVE QUARTER
				Preceding year
		Current year		corresponding		Six		Six
		quarter		quarter		months to		months to
		30/6/2021	30/6/2020	30/6/2021	30/6/2020
		RM'000		RM'000		RM'000		RM'000
1 (a)	Revenue	538,600	448,469	1,022,152	950,341
(b)	Cost of sales	(461,494)	(405,210)	(878,469)	(837,014)
(c)	Gross profit	77,106	43,259	143,683	113,327
(d)	Other income	8,509	31,869	16,414	41,108
(e)	Expenses	(72,178)	(89,155)	(130,768)	(145,967)
(f)	Finance costs	(5,408)	(6,355)	(10,730)	(12,358)
(g)	Share of results of associates	5,639	4,059	10,983	7,875
(h)
Profit/(loss) before tax	13,668	(16,323)	29,582	3,985
(i)	Income tax	(7,377)	(10,993)	(15,181)	(19,165)
(j)	Profit/(loss) for the period
6,291	(27,316)	14,401	(15,180)
	Attributable to:
(k)	Ow ners of the parent	6,133	(26,914)	12,827	(15,758)
(l)	Non-controlling interests	158	(402)	1,574	578
	Profit/(loss) for the period	6,291	(27,316)	14,401	(15,180)

• Earnings per share based on 1(k) above (Note 26):

Basic

0.74 sen

(3.24) sen

1.54 sen

(1.89) sen

The condensed Consolidated Income Statement should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2020.

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UEM EDGENTA BERHAD

Company No. 196301000166 (5067-M)

Incorporated in Malaysia

I(B). CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	INDIVIDUAL QUARTER		CUMULATIVE QUARTER
			Preceding year
	Current year		corresponding		Six		Six
	quarter		quarter		months to		months to
	30/6/2021	30/6/2020	30/6/2021	30/6/2020
	RM'000		RM'000		RM'000		RM'000
Profit/(loss) for the period	6,291	(27,316)	14,401	(15,180)
Other comprehensive income to be
reclassified to profit or loss in
subsequent periods:
Exchange differences on translation
of foreign operations, representing
total other comprehensive income	4,093	4,670	9,378	10,662
Exchange differences reclassified
to profit or loss	-	(19,254)	-	(19,254)
Total other comprehensive (loss)/income
for the period, net of tax	4,093	(14,584)	9,378	(8,592)
Total comprehensive (loss)/income
for the period	10,384	(41,900)	23,779	(23,772)
Attributable to:
Ow ners of the parent	10,161	(41,239)	22,118	(24,719)
Non-controlling interests	223		(661)		1,661		947
	10,384	(41,900)	23,779	(23,772)

The condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2020.

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UEM EDGENTA BERHAD

Company No. 196301000166 (5067-M)

Incorporated in Malaysia

Remarks to Condensed Consolidated Income Statement:
	INDIVIDUAL QUARTER	CUMULATIVE QUARTER
		Preceding year
	Current year	corresponding	Six	Six
	quarter	quarter	months to	months to
	30/6/2021	30/6/2020	30/6/2021	30/6/2020
	RM'000	RM'000	RM'000	RM'000
Profit before tax is arrived at after (crediting)/charging:
Interest income	(1,227)	(648)	(2,195)	(2,218)
Accretion of interest on concession receivable	(4,745)	(4,841)	(9,465)	(9,390)
Dividend from short term investment	(127)	(197)	(340)	(811)
(Gain)/loss on disposal of property, plant and equipment	-	(3)	7	734
Net foreign exchange (gain)/loss	(270)	(19,248)	176	(19,509)
Net impairment on trade receivables	26	14,947	14	14,941
Interest expense	4,884	6,093	9,960	11,538
Depreciation and amortisation	21,965	22,149	40,487	38,960
Staff rationalisation cost	2,265	-	2,265	-
Impairment on completed property inventories	-	50,000	-	50,000

Other than the above, there were no other impairment/(write back of impairment) of assets, (gain)/loss on investments, write down of inventories and/or reversal of write down, reversal of provision for costs of restructuring or exceptional items.

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UEM EDGENTA BERHAD

Company No. 196301000166 (5067-M)

Incorporated in Malaysia

1. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at end of	As at preceding
current quarter	financial year end
30/6/2021	31/12/2020
RM'000	RM'000

ASSETS

• Non-currentassets

	Property, plant and equipment	182,571		193,678
	Right-of-use assets	41,583		40,827
	Land held for property development	477		477
	Intangible assets	712,703		718,349
	Investment in associates	93,273		85,203
	Other investments	232		232
	Trade and other receivables	119,926		119,992
	Contract related assets	54,975		67,751
	Deferred tax assets	9,763		8,960
		1,215,503		1,235,469
2	Current assets
	Inventories	72,047		77,865
	Trade and other receivables	589,172		460,013
	Contract related assets	268,951		293,351
	Tax recoverable	50,227		50,854
	Short term investments	42,012		11,799
	Cash, bank balances and deposits	540,977		678,002
		1,563,386		1,571,884
	Total assets
	2,778,889	2,807,353

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UEM EDGENTA BERHAD

Company No. 196301000166 (5067-M)

Incorporated in Malaysia

1. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONT'D)

As at end of	As at preceding
current quarter	financial year end
30/6/2021	31/12/2020
RM'000	RM'000

EQUITY AND LIABILITIES

• Equity attributable to Ow ners of the Parent

	Share capital	268,074		268,074
	Capital reserve	313,856		313,856
	Other reserves	(7,049)		(16,340)
	Retained earnings	947,909		935,082
		1,522,790		1,500,672
4	Non-controlling interests	8,855		8,590
	Total equity	1,531,645		1,509,262
5	Non-current liabilities
	Retirement benefit obligations	2,518		2,518
	Defined benefit pension plan	967		937
	Provisions	3,206		2,891
	Borrow ings	313,369		318,704
	Lease liabilities	28,286		27,768
	Trade and other payables	1,443		1,659
	Deferred tax liabilities	46,643		44,126
		396,432		398,603
6	Current liabilities
	Retirement benefit obligations	877		877
	Provisions	1,620		1,620
	Borrow ings	151,229		164,450
	Lease liabilities	9,513		9,807
	Trade and other payables	643,243		668,935
	Contract liabilities	32,449		30,663
	Income tax payable	11,881		23,136
		850,812		899,488
	Total liabilities	1,247,244		1,298,091
	Total equity and liabilities	2,778,889		2,807,353

• Net assets per ordinary share attributable to

Owners of the Parent (RM)

1.83

1.80

The condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2020.

• Cash, bank balances and deposits
  Included in the cash, bank balances and deposits of the Group is an amount of RM20,996,474 (2020: RM9,070,741) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966 and Section 8A of the Housing Development Account (Control and Licensing) Sabah Act, 1978.

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