Brahim Berhad : Quarterly rpt on consolidated results for the financial period ended 30 Jun 2021

Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Interim Financial Report

30 June 2021

Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Unaudited Condensed Consolidated Statement Of Comprehensive Income For The Quarter Ended 30 June 2021

	Individual Quarter		Cumulative Quarters
	3 months ended			6 months ended
	30-Jun			30-Jun
	2021	2020	Changes	2021	2020	Changes
	RM'000		RM'000	%		RM'000		RM'000	%
Continuing Operations
Revenue	6,540	8,062	-18.88%	13,688	66,046	-79.28%
Cost of Sales	(2,863)	(3,752)		(6,319)	(29,252)
Gross Profit	3,677	4,310		7,369	36,794
Other income	48	526		69	731
Administrative expenses	(16,451)	(27,027)		(34,573)	(67,061)
Other expenses	(530)	(1,484)		(1,147)	(3,555)
(Loss)/Profit from operations	(13,256)	(23,675)	-44.01%	(28,282)	(33,091)	-14.53%
Finance costs	(1,503)	(1,595)		(2,704)	(3,162)
Share of results of jointly
controlled entities	-		-			-		-
(Loss) before taxation	(14,759)	(25,270)	-41.59%	(30,986)	(36,253)	-14.53%
Income tax expense	-	(51)		-	(121)
Zakat	-		-			-		-
(Loss) after taxation	(14,759)	(25,321)	-41.71%	(30,986)	(36,374)	-14.81%
(Loss)/Profit attributable to:
- Owners of the Company	(6,542)	(3,420)	91.29%	(13,463)	(14,883)	-9.54%
- Non Controlling Interests	(8,217)		(21,901)	-62.48%		(17,523)		(21,491)	-18.46%
	(14,759)	(25,321)	-41.71%	(30,986)	(36,374)	-14.81%
Total comprehensive (loss)/income attributable to:-
- Owners of the Company	(6,542)	(3,420)		(13,463)	(14,883)
- Non Controlling Interest	(8,217)		(21,901)			(17,523)		(21,491)
	(14,759)	(25,321)		(30,986)	(36,374)
Loss per share (RM) attributable to the owners of the Company
Basic	(2.44)	(1.27)		(5.02)	(5.55)
Diluted	N/A		N/A			N/A		N/A

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

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Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Condensed Consolidated Statement Of Financial Position As At 30 June 2021

	As At		As At
	30.06.2021	31.12.2020
	RM'000		RM'000
	(Unaudited)		(Audited)
ASSETS
Non Current Assets
Property, plant and equipment	31,608	37,620
Goodwill on consolidation	84	84
Deferred tax assets	-		-
	31,692	37,704
Current Assets
Inventories	2,842	3,304
Trade receivables	6,420	8,519
Other receivables, deposits and prepayments	2,865	3,057
Tax recoverable	887	857
Amount owing by related parties	20	26
Fixed deposits with a licensed bank	4,748	3,319
Cash and bank balances	2,384		8,117
	20,166		27,199
TOTAL ASSETS	51,858	64,903
EQUITY & LIABILITIES
Equity attributable to equity holders
Share capital	268,266	268,266
Accumulated losses	(368,373)		(354,910)
Shareholders' Equity	(100,107)	(86,644)
Non Controlling Interest	(57,941)		(40,418)
Total Equity	(158,048)	(127,062)
Non-Current Liabilities
Other payables	2,050	2,050
Long-term borrowings	1,873	2,972
Deferred tax liabilities	9,601		9,601
	13,524	14,623
Current Liabilities
Trade payables	43,672	40,787
Other payables and accruals	49,165	37,202
Short-term borrowings	83,168	81,154
Amount due to related parties	5,899	3,793
Advances from a Director	6,961	6,889
Tax liabilities	55	55
Provision for zakat	562	562
Provision for Contigent Liabilities	6,900	6,900
	196,382		177,342
Total Liabilities	209,906		191,965
TOTAL EQUITY AND LIABILITIES	51,858	64,903
Net assets per share attribulate to ordinary
equity holders of the Company (RM)	(0.37)	(0.32)

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

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Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Unaudited Condensed Consolidated Statement Of Changes In Equity For The Year Ended 30 June 2021

		Accumulated		Non-Controlling
	Share Capital	losses	Total	Interest	Total
	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 January 2021	268,266	(354,910)	(86,644)	(40,418)	(127,062)
Total comprehensive loss	-	(13,463)	(13,463)	(17,523)	(30,986)
At 30 June 2021	268,266	(368,373)	(100,107)	(57,941)	(158,048)
At 1 January 2020	268,266	(247,881)	20,385	90,830	111,215
Total comprehensive loss	-	(107,029)	(107,029)	(131,248)	(238,277)
At 31 December 2020	268,266	(354,910)	(86,644)	(40,418)	(127,062)

The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

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Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Unaudited Condensed Consolidated Statement Of Cash Flows For The Financial Year Ended 30 June 2021

			6 months ended
			As at			As at
		30.06.2021			30.06.2020
			(Unaudited)			(Unaudited)
			RM'000			RM'000
Operating activities
Profit/(Loss) before tax	(30,986)			(36,253)
Adjustment for:-
Amortisation and depreciation	6,382			12,981
Interest expense	2,437			2,012
Interest income	(7)			(152)
Tax Expense	-			120
Share of results in joint ventures		-			-
Operating profit before working capital changes		(22,174)					(21,292)
(Increase)/Decrease in inventories	462			2,012
(Increase)/Decrease in receivables	2,291			21,893
Increase/(Decrease) in intercompany balances	2,184			(89)
Increase/(Decrease) in payables		14,848			(14,894)
Cash generated from/(used in) operations	(2,389)			(12,370)
Interest paid	-			565
Tax refund/(paid)		(30)			2,246
Net cash generated from/(used to) operating activities		(2,419)			(9,559)
Investing activities
Interest income	7			152
Withdrawal/(Placement) of deposits pledged with licensed banks	88			5,857
Purchase of plant and equipment		(370)			(951)
Net cash used in investing activities		(275)			5,058
Financing activities
Repayment of term loans	(200)			(3,500)
Repayment of lease and hire-purchase		(1,322)			(9,884)
Net cash (used to)/generated from financing activities		(1,522)			(13,384)
Net increase in cash and cash equivalents	(4,216)			(17,885)
Cash and cash equivalents at the beginning of financial year	8,358			37,019
Cash and cash equivalents at the end of financial period		4,142			19,134
Cash, bank balances and fixed deposits with licensed banks	7,132			20,983
Bank overdrafts	-			-
Deposits pledged to licensed banks	(2,990)			(1,849)
		4,142			19,134

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