Brahim : Quarterly rpt on consolidated results for the financial period ended 31 Mar 2021

Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Interim Financial Report

31 March 2021

Brahim's Holdings Berhad

(Company No. 198201002985 [82731-A])

(Incorporated in Malaysia)

Unaudited Condensed Consolidated Statement Of Comprehensive Income For The Quarter Ended 31 March 2021

		Individual Quarter	Cumulative Quarters
		3 months ended				3 months ended
		31-Mar				31-Mar
		2021	2020		Changes	2021	2020	Changes
		RM'000		RM'000	%			RM'000		RM'000	%
Continuing Operations
Revenue	7,148	57,984		-87.67%			7,148	57,984	-87.67%
Cost of Sales	(3,457)	(25,500)					(3,457)	(25,500)
Gross Profit	3,691	32,484					3,691	32,484
Other income	21	205					21	205
Administrative expenses	(18,123)	(40,034)					(18,123)	(40,034)
Other expenses	(617)	(2,071)					(617)	(2,071)
(Loss)/Profit from operations	(15,028)	(9,416)		-59.60%			(15,028)	(9,416)	-59.60%
Finance costs	(1,201)	(1,567)					(1,201)	(1,567)
Share of results of jointly
controlled entities		-		-					-		-
(Loss) before taxation	(16,229)	(10,983)		-47.76%			(16,229)	(10,983)	-47.76%
Income tax expense	-	(70)					-	(70)
Zakat		-		-					-		-
(Loss) after taxation		(16,229)		(11,053)		-46.83%			(16,229)		(11,053)	-46.83%
(Loss)/Profit attributable to:
- Owners of the Company	(6,922)	(11,463)		39.61%			(6,922)	(11,463)	39.61%
- Non Controlling Interests		(9,307)		410		-2370%			(9,307)		410	-2370%
		(16,229)	(11,053)		-46.83%			(16,229)	(11,053)	-46.83%
Total comprehensive (loss)/income attributable to:-
- Owners of the Company	(6,922)	(11,463)					(6,922)	(11,463)
- Non Controlling Interest		(9,307)		410					(9,307)		410
		(16,229)	(11,053)					(16,229)	(11,053)
Loss per share (RM) attributable to the owners of the Company
Basic	(2.58)	(4.27)					(2.58)	(4.27)
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 31 March 2021

	As At	As At
	31.03.2021		31.12.2020
	RM'000	RM'000
	(Unaudited)	(Audited)
ASSETS
Non Current Assets
Property, plant and equipment	37,334		37,620
Intangible assets	-		-
Goodwill on consolidation	84		84
Deferred tax assets	-		-
	37,418		37,704
Current Assets
Inventories	3,010		3,304
Trade receivables	6,779		8,519
Other receivables, deposits and prepayments	2,359		3,063
Tax recoverable	887		857
Amount owing by related parties	20		20
Fixed deposits with a licensed bank	4,748		8,117
Cash and bank balances	3,954		3,319
	21,757		27,199
TOTAL ASSETS	59,175		64,903
EQUITY & LIABILITIES
Equity attributable to equity holders
Share capital	268,266		268,266
Accumulated losses	(361,832)		(354,910)
Shareholders' Equity	(93,566)		(86,644)
Non Controlling Interest	(49,725)		(40,418)
(Capital Deficiency)/ Total Equity	(143,291)		(127,062)
Non-Current Liabilities
Other payables	2,050		2,050
Deferred tax liabilities	9,623		9,601
Loans and borrowings	2,123		2,972
	13,796		14,623
Current Liabilities
Trade payables	43,959		40,787
Other payables and accruals	40,935		37,202
Loans and borrowings	84,150		81,154
Amount owing to related parties	5,192		3,793
Provisions	6,900		6,900
Advances from a Director	6,917		6,889
Provision for taxation	55		55
Provision for zakat	562		562
	188,670		177,342
Total Liabilities	202,466		191,965
TOTAL EQUITY AND LIABILITIES	59,175		64,903
Net assets per share attributed to ordinary
equity holders of the Company (RM)	(0.35)		(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 31 March 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	-	(6,922)	(6,922)	(9,307)	(16,229)
At 31 March 2021	268,266	(361,832)	(93,566)	(49,725)	(143,291)
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 31 March 2021

		3 months ended
		As at		As at
		31.03.2021	31.03.2020
		(Unaudited)		(Unaudited)
		RM'000		RM'000
Operating activities
Profit/(Loss) before tax	(16,229)	(10,983)
Adjustment for:-
Amortisation and depreciation	1,956	1,997
Interest expense	1,086	332
Interest income		(6)		(102)
Operating profit before working capital changes	(13,193)	(8,756)
(Increase)/Decrease in inventories	294	734
(Increase)/Decrease in receivables	2,444	7,131
Increase/(Decrease) in intercompany balances	28	(3)
Increase/(Decrease) in payables		8,304		(5,476)
Cash generated from/(used in) operations	(2,123)	(6,370)
Interest paid	-	(332)
Tax refund/(paid)		(30)		2,081
Net cash generated from/(used in) operating activities		(2,153)		(4,621)
Investing activities
Interest income	6	102
Withdrawal/(Placement) of deposits pledged with licensed bank	88	31
Purchase of plant and equipment		(6)		(788)
Net cash generated from/ (used in) investing activities		88		(655)
Financing activities
Repayment of term loans	-	(3,500)
Repayment of lease and hire-purchase		(581)		(2,255)
Net cash (used to)/generated from financing activities		(581)		(5,755)
Net decrease in cash and cash equivalents	(2,646)	(11,031)
Cash and cash equivalents at the beginning of financial year	8,358	42,845
Cash and cash equivalents at the end of financial period		5,712		31,814
Cash, bank balances and fixed deposits with licensed banks	8,702	33,663
Bank overdrafts	-	-
Deposits pledged to licensed banks	(2,990)	(1,849)
		5,712		31,814

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