TECHNA-XBERHAD [Registration No. 200601012477 (Company No.: 732227-T)]
(Formerly known as SINO HUA-AN INTERNATIONAL BERHAD)
Incorporated in Malaysia
QUARTERLY REPORT ON CONSOLIDATED RESULTS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2021
- THE FIGURES HAVE NOT BEEN AUDITED
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
First quarter ended | Financial period ended | ||||||||
Unaudited | Unaudited | ||||||||
Current | Preceding | Current | Preceding | ||||||
Period | Period | Period | Period | ||||||
31-Mar-21 | 31-Mar-20 | 31-Mar-21 | 31-Mar-20 | ||||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||||
(Restated) | (Restated) | ||||||||
Continuing Operations | |||||||||
Revenue | 9,618 | 5,526 | 9,618 | 5,526 | |||||
Cost of sales | (2,274) | (2,056) | (2,274) | (2,056) | |||||
Gross profit | 7,344 | 3,470 | 7,344 | 3,470 | |||||
Other income | 340 | 11 | 340 | 11 | |||||
Operating expenses | (4,891) | (5,107) | (4,891) | (5,107) | |||||
Finance cost | (694) | (257) | (694) | (257) | |||||
(5,245) | (5,353) | (5,245) | (5,353) | ||||||
Share of loss in associate company | - | (13) | - | (13) | |||||
Profit/(Loss) before tax from continuing operations | 2,099 | (1,896) | 2,099 | (1,896) | |||||
Taxation | (10) | (91) | (10) | (91) | |||||
Profit/(Loss) for the period from continuing operations | 2,089 | (1,987) | 2,089 | (1,987) | |||||
Discontinued Operations | |||||||||
Loss for the period from discontinued operations | (25,610) | (39,102) | (25,610) | (39,102) | |||||
Total loss for the period | (23,521) | (41,089) | (23,521) | (41,089) | |||||
Other comprehensive (expense)/income: | |||||||||
Items that will be reclassified subsequently to profit or loss: | |||||||||
Exchange difference arising from translation | |||||||||
of foreign operations | 2,982 | 6,562 | 2,982 | 6,562 | |||||
Total comprehensive expense for the period | (20,539) | (34,527) | (20,539) | (34,527) | |||||
Profit/(Loss) attributable to | |||||||||
Equity holders of the Company | (23,928) | (41,089) | (23,928) | (41,089) | |||||
Minority interest | 407 | - | 407 | - | |||||
(23,521) | (41,089) | (23,521) | (41,089) | ||||||
Total comprehensive expenses attributable to | |||||||||
Equity holders of the Company | (22,373) | (34,527) | (22,373) | (34,527) | |||||
Minority interest | 1,834 | - | 1,834 | - | |||||
(20,539) | (34,527) | (20,539) | (34,527) | ||||||
Loss per share attributable to equity holders of the Company (sen) | |||||||||
- | basic (sen) | (1.49) | (3.66) | (1.49) | (3.66) | ||||
- | fully diluted (sen) | (1.49) | (3.66) | (1.49) | (3.66) |
The above Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Audited Financial Statements for the financial year ended 31 December 2020.
1
TECHNA-XBERHAD [Registration No. 200601012477 (Company No.: 732227-T)]
(Formerly known as SINO HUA-AN INTERNATIONAL BERHAD)
Incorporated in Malaysia
QUARTERLY REPORT ON CONSOLIDATED RESULTS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2021
- THE FIGURES HAVE NOT BEEN AUDITED
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited | Audited | |||
as at | as at | |||
31-Mar-21 | 31-Dec-20 | |||
RM'000 | RM'000 | |||
Non Current Assets | ||||
Property, plant and equipment | 36,414 | 35,730 | ||
Right of use assets | 5,258 | 6,118 | ||
Intangible assets | 191,967 | 185,224 | ||
233,639 | 227,072 | |||
Current Assets | ||||
Inventories | 2,115 | 311 | ||
Trade receivables | 3,093 | 1,041 | ||
Other receivables, deposits and prepayments | 77,880 | 71,956 | ||
Tax recoverable | 823 | 549 | ||
Bank balances and cash | 16,985 | 6,975 | ||
100,896 | 80,832 | |||
Assets held for sales | 144,725 | 128,920 | ||
Total Assets | ||||
479,260 | 436,824 | |||
Shareholders' Fund | ||||
Share capital | 1,197,763 | 1,153,305 | ||
Reserves | (1,114,219) | (1,091,846) | ||
83,544 | 61,459 | |||
Non-controlling interest | 103,100 | 101,266 | ||
186,644 | 162,725 | |||
Current Liabilities | ||||
Trade payables | 4,650 | 3,562 | ||
Other payables and accrued expenses | 132,376 | 136,986 | ||
Lease payable | 3,648 | 3,491 | ||
Short term bank loan | 1,987 | 1,987 | ||
Provision for taxation | 6 | 15 | ||
142,667 | 146,041 | |||
Liabilities held for sales | 135,144 | 94,388 | ||
Non Current Liabilities | ||||
Other payable | 12,007 | 30,161 | ||
Lease payable | 2,543 | 3,490 | ||
Deferred tax liabilities | 255 | 19 | ||
14,805 | 33,670 | |||
Total Equity and Liabilities | ||||
479,260 | 436,824 | |||
Net assets per share (RM) | 0.05 | 0.04 |
The above Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited Financial Statements for the financial year ended 31 December 2020.
2
TECHNA-XBERHAD [Registration No. 200601012477 (Company No.: 732227-T)]
(Formerly known as SINO HUA-AN INTERNATIONAL BERHAD)
Incorporated in Malaysia
QUARTERLY REPORT ON CONSOLIDATED RESULTS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2021
- THE FIGURES HAVE NOT BEEN AUDITED
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Distributable | ||||||||||||
<--------------------Non-distributable reserves --------------------> | reserve | |||||||||||
Statutory | Foreign | |||||||||||
common | Reverse | currency | Non- | |||||||||
Share | reserve | acquisition | translation | Option | Retained | controlling | ||||||
capital | funds | reserve | reserve | reserve | earnings | Sub-total | interest | Total | ||||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||||
3 months ended 31 March 2020 | ||||||||||||
Balance as of January 1, 2020 | 1,115,045 | 49,358 | (799,823) | 179,357 | 2,640 | (354,767) | 191,810 | - | 191,810 | |||
Loss for the period | - | - | - | - | - | (41,086) | (41,086) | - | (41,086) | |||
Other comprehensive expense | ||||||||||||
Exchange difference arising from translation | ||||||||||||
of foreign operations | - | - | - | 6,562 | - | - | 6,562 | - | 6,562 | |||
Balance as of March 31, 2020 | 1,115,045 | 49,358 | (799,823) | 185,919 | 2,640 | (395,853) | 157,286 | - | 157,286 | |||
3 months ended 31 March 2021 | ||||||||||||
Balance as of January 1, 2021 | 1,153,305 | 49,358 | (799,823) | 192,753 | 2,640 | (536,774) | 61,459 | 101,266 | 162,725 | |||
Issue of shares: | ||||||||||||
Conversion of RCN | 27,000 | - | - | - | - | - | 27,000 | - | 27,000 | |||
Private placement | 17,458 | - | - | - | - | 17,458 | - | 17,458 | ||||
Loss for the period | - | - | - | - | - | (23,928) | (23,928) | 407 | (23,521) | |||
Other comprehensive income | ||||||||||||
Exchange difference arising from translation | ||||||||||||
of foreign operations | - | - | - | 1,555 | - | - | 1,555 | 1,427 | 2,982 | |||
Balance as of March 31, 2021 | 1,197,763 | 49,358 | (799,823) | 194,308 | 2,640 | (560,702) | 83,544 | 103,100 | 186,644 |
The above Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Audited Financial Statements for the financial year ended 31 December 2020.
3
TECHNA-XBERHAD [Registration No. 200601012477 (Company No.: 732227-T)]
(Formerly known as SINO HUA-AN INTERNATIONAL BERHAD)
Incorporated in Malaysia
QUARTERLY REPORT ON CONSOLIDATED RESULTS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2021
- THE FIGURES HAVE NOT BEEN AUDITED
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
Unaudited | |||||
For the financial period ended | |||||
31-Mar-21 | 31-Mar-20 | ||||
RM'000 | RM'000 | ||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Profit/(Loss) before tax from continuing operations | 2,099 | (1,896) | |||
Loss before tax from discontinued operations | (25,610) | (39,102) | |||
Loss for the period | (23,511) | (40,998) | |||
Adjustments for: | |||||
Depreciation of property, plant and equipment | 3,831 | 6,771 | |||
Depreciation of right of use assets | 860 | 505 | |||
Amortisation of lease payments | 268 | 256 | |||
Amortisation of intangibles | 383 | - | |||
Finance costs | 694 | 643 | |||
Interest income | (11) | (13) | |||
Share of associate's results | - | 13 | |||
Operating loss before working capital changes | (17,486) | (32,823) | |||
(Increase) / Decrease in: | |||||
Inventories | (7,711) | 29,480 | |||
Trade receivables | (3,074) | (21,418) | |||
Other receivables, deposits and prepayments | (6,605) | 8,404 | |||
Increase / (Decrease) in: | |||||
Trade payables | 37,001 | 17,230 | |||
Other payables and accrued expenses | (17,480) | (1,753) | |||
Cash used in operations | (15,355) | (880) | |||
Interest paid | (694) | (643) | |||
Tax | - | 32 | |||
Net cash used in operating activities | (16,049) | (1,491) | |||
CASH FLOWS USED IN INVESTING ACTIVITIES | |||||
Acquisition of property, plant and equipment | (860) | (5,131) | |||
Interest received | 11 | 13 | |||
Net cash used in investing activities | (849) | (5,118) | |||
CASH FLOWS USED IN FINANCING ACTIVITY | |||||
Proceeds from Redeemable Convertible Note, net of transaction costs | 27,000 | - | |||
Proceeds from Private Placement, net of transaction costs | 17,458 | - | |||
Repayment of lease payables | (897) | (503) | |||
Net cash generated from/(used in) financing activity | 43,561 | (503) | |||
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 26,663 | (7,112) | |||
CASH AND CASH EQUIVALENTS | |||||
AT BEGINNING OF THE FINANCIAL PERIOD | 10,048 | 14,984 | |||
Effect of changes in exchange rates | (18,187) | 2,464 | |||
Changes in cash and cash equivalents classified as held for sales | (1,539) | (8,643) | |||
CASH AND CASH EQUIVALENTS | |||||
AT END OF THE FINANCIAL PERIOD | 16,985 | 1,693 | |||
The above Condensed Consolidated Statement of Cash Flows should be read in | |||||
conjunction with the the Audited Financial Statements for the financial year ended 31 December 2020. |
4
TECHNA-XBERHAD [Registration No. 200601012477 (Company No.: 732227-T)]
(Formerly known as SINO HUA-AN INTERNATIONAL BERHAD)
Incorporated in Malaysia
Notes to the quarterly report - 31 March 2021
- EXPLANATORY NOTES PURSUANT TO MFRS 134 - INTERIM FINANCIAL REPORTING
A1. Basis of preparation
The interim financial report is unaudited and has been prepared in accordance with the requirements of MFRS 134: Interim Financial Reporting and Chapter 9.22 of the Listing Requirements of the Bursa Malaysia Securities Berhad ("BMSB").
The interim financial report should be read in conjunction with the audited financial statements of the Group for the year ended 31 December 2020. These explanatory notes attached to the interim financial report provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Group since the financial year ended 31 December 2020.
The significant accounting policies and methods of computation applied in the unaudited interim financial statements are consistent with those adopted in the most recent audited annual financial statements for the financial year ended 31 December 2020, except for the adoption of the following Malaysian Financial Reporting Standards ("MFRSs") and amendments to MFRS for financial periods beginning on or after 1 January 2021: -
- Amendments to References to the Conceptual Framework in MFRS Standards:
- Amendments to MFRS 2, "Share Based Payments"
- Amendments to MFRS 3, "Business Combinations"
- Amendments to MFRS 6, "Exploration for and Evaluation of Mineral Resources"
- Amendments to MFRS 14, "Regulatory Deferral Accounts"
- Amendments to MFRS 101, "Presentation of Financial Statements"
- Amendments to MFRS 108, "Accounting Policies, Changes in Accounting Estimates and Errors"
- Amendments to MFRS 134, "Interim Financial Reporting"
-
Amendments to MFRS 137, "Provisions, Contingent Liabilities and Contingent
Assets" - Amendments to MFRS 138, "Intangible Assets"
- Amendments to IC Interpretation 12, "Service Concession Arrangements"
-
Amendments to IC Interpretation 19, "Extinguishing Financial Liabilities with
Equity Instruments" - Amendments to IC Interpretation 20, "Stripping Costs in the Production Phase of a Surface Mine"
- Amendments to IC Interpretation 22, "Foreign Currency Transactions and Advance Considerations"
- Amendments to IC Interpretation 132, "Intangible Assets- Web Site Costs"
- Amendments to MFRS 3, "Business Combinations" (Definition of a Business)
- Amendments to MFRS Standards arising from Definition of Material:
- Amendments to MFRS 101, "Presentation of Financial Statements"
- Amendments to MFRS 108, "Accounting Policies, Changes in Accounting Estimates and Errors"
- Amendments to MFRS Standards arising from Interest Rate Benchmark Reform:
- Amendments to MFRS 7, "Financial Instruments: Disclosures"
- Amendments to MFRS 9, "Financial Instruments"
-
Amendments to MFRS 139, "Financial Instruments: Recognition and
Measurement"
5
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Techna-X Bhd published this content on 31 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2021 08:38:06 UTC.