HIBISCUS PETROLEUM BERHAD
(Registration Number: 200701040290 (798322-P))
(Incorporated in Malaysia)
Unaudited Quarterly Financial Report
31 March 2022
(Third financial quarter of financial year ending 30 June 2022)
(Note: This Unaudited Quarterly Financial Report is supplemented by the Corporate and Business Update released on the same day, on 25 May 2022.)
HIBISCUS PETROLEUM BERHAD
(Registration Number: 200701040290 (798322-P))
(Incorporated in Malaysia)
QUARTERLY REPORT FOR THE QUARTER ENDED 31 MARCH 2022
(Third financial quarter of financial year ending 30 June 2022)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||
QUARTER | QUARTER | PERIOD | PERIOD | ||
ENDED | ENDED | ENDED | ENDED | ||
31.03.2022 | 31.03.2021 | 31.03.2022 | 31.03.2021 | ||
Note | RM'000 | RM'000 | RM'000 | RM'000 | |
Revenue | 297,060 | 215,984 | 828,154 | 551,762 | |
Cost of sales | (35,197) | (66,110) | (216,769) | (222,524) | |
GROSS PROFIT | 261,863 | 149,874 | 611,385 | 329,238 | |
Other income | 26 | 3,995 | 7,202 | 3,422 | 13,564 |
Administrative expenses | (147,574) | (30,916) | (231,789) | (81,779) | |
Other expenses | (88,556) | (48,945) | (169,292) | (138,486) | |
Finance costs | (16,552) | (12,149) | (36,913) | (31,930) | |
Share of results of an associate | (96) | (103) | (296) | (962) | |
Negative goodwill from | |||||
business combination | 317,319 | - | 317,319 | - | |
PROFIT BEFORE TAXATION | 27 | 330,399 | 64,963 | 493,836 | 89,645 |
Taxation | 28 | (22,859) | (32,934) | (96,285) | (35,567) |
PROFIT AFTER TAXATION | 307,540 | 32,029 | 397,551 | 54,078 | |
PROFIT AFTER TAXATION | |||||
ATTRIBUTABLE TO: | |||||
- Owners of the Company | 307,540 | 32,029 | 397,551 | 54,078 | |
EARNINGS PER SHARE (SEN) | |||||
Basic | 25 | 15.32 | 1.76 | 19.81 | 3.23 |
Diluted | 25 | 15.28 | 1.59 | 19.75 | 3.01 |
Note:
Earnings Before Interest, | ||||
Taxes, Depreciation | ||||
and Amortisation | ||||
("EBITDA") | 434,728 | 122,417 | 698,272 | 250,882 |
(Please refer to Part A, Note 11 and Part B, Notes 15 and 16 of this Quarterly Report for further details.)
The Unaudited Condensed Consolidated Statements of Profit or Loss should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.
1
HIBISCUS PETROLEUM BERHAD
(Registration Number: 200701040290 (798322-P))
(Incorporated in Malaysia)
QUARTERLY REPORT FOR THE QUARTER ENDED 31 MARCH 2022
(Third financial quarter of financial year ending 30 June 2022)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | |||
QUARTER | QUARTER | PERIOD | PERIOD | |
ENDED | ENDED | ENDED | ENDED | |
31.03.2022 | 31.03.2021 | 31.03.2022 | 31.03.2021 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
PROFIT AFTER TAXATION | 307,540 | 32,029 | 397,551 | 54,078 |
Other comprehensive income/(expenses): | ||||
Item that may be subsequently reclassified | ||||
to profit or loss: | ||||
- Foreign currency translation * | 11,283 | 34,315 | 16,936 | (36,632) |
TOTAL COMPREHENSIVE INCOME | ||||
FOR THE QUARTER/PERIOD | 318,823 | 66,344 | 414,487 | 17,446 |
TOTAL COMPREHENSIVE INCOME | ||||
ATTRIBUTABLE TO: | ||||
- Owners of the Company | 318,823 | 66,344 | 414,487 | 17,446 |
- Arising from translation of Group entities' financial statements with different functional currencies recognised directly in reserves.
The Unaudited Condensed Consolidated Statements of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.
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HIBISCUS PETROLEUM BERHAD
(Registration Number: 200701040290 (798322-P))
(Incorporated in Malaysia)
QUARTERLY REPORT FOR THE QUARTER ENDED 31 MARCH 2022
(Third financial quarter of financial year ending 30 June 2022)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
UNAUDITED | AUDITED | ||
AS AT | AS AT | ||
31.03.2022 | 30.06.2021 | ||
Note | RM'000 | RM'000 | |
ASSETS | |||
NON-CURRENT ASSETS | |||
Intangible assets | 1,334,238 | 1,375,808 | |
Equipment | 1,789,207 | 604,833 | |
Right-of-use assets | 174,522 | 12,407 | |
Other receivables | 2,995 | 5,458 | |
Investment in an associate | 4,350 | 4,381 | |
Restricted cash and bank balances | 159,872 | 125,581 | |
Tax recoverable | 48,090 | - | |
3,513,274 | 2,128,468 | ||
CURRENT ASSETS | |||
Inventories | 173,544 | 49,462 | |
Trade receivables | 194,200 | 112,905 | |
Other receivables, deposits and prepayments | 338,343 | 182,808 | |
Other investment | - | 136,430 | |
Amount owing by a joint venture | 320 | 318 | |
Cash and bank balances | 277,975 | 177,652 | |
Tax recoverable | 9,123 | - | |
993,505 | 659,575 | ||
TOTAL ASSETS | 4,506,779 | 2,788,043 | |
EQUITY AND LIABILITIES | |||
EQUITY | |||
Share capital | 10 | 966,014 | 959,892 |
Other reserves | 78,855 | 62,165 | |
Retained earnings | 829,341 | 451,865 | |
1,874,210 | 1,473,922 | ||
NON-CURRENT LIABILITIES | |||
Other payables | 6,838 | 9,545 | |
Borrowings | 29 | 138,535 | 11,230 |
Convertible Redeemable Preference Shares ("CRPS") | |||
- Liability Component | - | 5,677 | |
Contingent consideration | 37,469 | 19,683 | |
Deferred tax liabilities | 522,778 | 471,958 | |
Provision for decommissioning costs | 623,419 | 322,697 | |
1,329,039 | 840,790 | ||
The Unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.
3
HIBISCUS PETROLEUM BERHAD
(Registration Number: 200701040290 (798322-P))
(Incorporated in Malaysia)
QUARTERLY REPORT FOR THE QUARTER ENDED 31 MARCH 2022
(Third financial quarter of financial year ending 30 June 2022)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONT'D)
UNAUDITED | AUDITED | ||
AS AT | AS AT | ||
31.03.2022 | 30.06.2021 | ||
Note | RM'000 | RM'000 | |
CURRENT LIABILITIES | |||
Trade payables | 10,532 | 9,638 | |
Other payables and accruals | 787,288 | 293,072 | |
Borrowings | 29 | 44,483 | 15,540 |
Amount owing to a joint venture | 318 | 318 | |
Amount owing to an associate | 5 | 119 | |
Contingent consideration | 10,400 | 25,251 | |
Provision for decommissioning costs | 82,973 | 58,677 | |
Provision for taxation | 367,312 | 70,497 | |
Redeemable Convertible Preference Shares | 219 | 219 | |
1,303,530 | 473,331 | ||
TOTAL LIABILITIES | 2,632,569 | 1,314,121 | |
TOTAL EQUITY AND LIABILITIES | 4,506,779 | 2,788,043 | |
NET ASSETS PER SHARE (RM) | 0.93 | 0.74 | |
The Unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.
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Hibiscus Petroleum Bhd published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 16:12:50 UTC.