TIME DOTCOM BERHAD
Registration No. 199601040939 (413292-P)
Incorporated in Malaysia
QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2023
- CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | |||||||
Unaudited | Unaudited | |||||||
Current | Preceding year | Unaudited | Unaudited | |||||
year | corresponding | Three | Three | |||||
quarter | quarter | months to | months to | |||||
31/03/2023 | 31/03/2022 | 31/03/2023 | 31/03/2022 | |||||
RM'000 | RM'000 | RM'000 | RM'000 | |||||
Restated | Restated | |||||||
Continuing operations | ||||||||
Operating revenue | 368,423 | 346,536 | 368,423 | 346,536 | ||||
Operating expenses | ||||||||
- depreciation and amortisation of property, plant and | ||||||||
equipment and right-of-use assets | (41,016) | (34,832) | (41,016) | (34,832) | ||||
- other operating expenses | (207,612) | (202,639) | (207,612) | (202,639) | ||||
Other operating income (net) | 7,566 | 417 | 7,566 | 417 | ||||
Profit from operations | 127,361 | 109,482 | 127,361 | 109,482 | ||||
Income from investments | 2,421 | 2,359 | 2,421 | 2,359 | ||||
Finance costs | (4,619) | (5,106) | (4,619) | (5,106) | ||||
Share of profit from associates, net of tax | 7,015 | 5,850 | 7,015 | 5,850 | ||||
Profit before tax | 132,178 | 112,585 | 132,178 | 112,585 | ||||
Tax expense | (28,394) | (28,749) | (28,394) | (28,749) | ||||
Profit from continuing operations | 103,784 | 83,836 | 103,784 | 83,836 | ||||
Discontinued operations | ||||||||
Profit from discontinued operations, net of tax | 10,637 | 7,483 | 10,637 | 7,483 | ||||
Profit for the period | 114,421 | 91,319 | 114,421 | 91,319 | ||||
Profit / (loss) attributable to: | ||||||||
Owners of the Company | 114,510 | 90,645 | 114,510 | 90,645 | ||||
Non-controlling interests | (89) | 674 | (89) | 674 | ||||
Profit for the period | 114,421 | 91,319 | 114,421 | 91,319 |
The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.
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TIME DOTCOM BERHAD
Registration No. 199601040939 (413292-P)
Incorporated in Malaysia
- CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED)
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||||||||||||||||
Unaudited | Unaudited | ||||||||||||||||||
Current | Preceding year | Unaudited | Unaudited | ||||||||||||||||
year | corresponding | Three | Three | ||||||||||||||||
quarter | quarter | months to | months to | ||||||||||||||||
31/03/2023 | 31/03/2022 | 31/03/2023 | 31/03/2022 | ||||||||||||||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||||||||||||||
Restated | Restated | ||||||||||||||||||
Profit for the period | 114,421 | 91,319 | 114,421 | 91,319 | |||||||||||||||
Other comprehensive income, net of tax: | |||||||||||||||||||
Items that may be reclassified subsequently to | |||||||||||||||||||
profit or loss | |||||||||||||||||||
- Foreign currency translation differences for foreign | |||||||||||||||||||
operations * | 7,528 | 86 | 7,528 | 86 | |||||||||||||||
- Cash flow hedge - associate | 27 | 58 | 27 | 58 | |||||||||||||||
7,555 | 144 | 7,555 | 144 | ||||||||||||||||
Items that will not be reclassified subsequently to | |||||||||||||||||||
profit or loss | |||||||||||||||||||
- Net change in fair value of equity investments | |||||||||||||||||||
designated at fair value through other | |||||||||||||||||||
comprehensive income ("FVOCI") | (402) | 2,286 | (402) | 2,286 | |||||||||||||||
- Remeasurement of defined benefit plan - associate | 473 | - | 473 | - | |||||||||||||||
71 | 2,286 | 71 | 2,286 | ||||||||||||||||
Total other comprehensive income for the period, | |||||||||||||||||||
net of tax | 7,626 | 2,430 | 7,626 | 2,430 | |||||||||||||||
Total comprehensive income for the period | 122,047 | 93,749 | 122,047 | 93,749 | |||||||||||||||
Total comprehensive income attributable to: | |||||||||||||||||||
Owners of the Company | 122,136 | 93,075 | 122,136 | 93,075 | |||||||||||||||
Non-controlling interests | (89) | 674 | (89) | 674 | |||||||||||||||
Total comprehensive income for the period | 122,047 | 93,749 | 122,047 | 93,749 | |||||||||||||||
Earnings per share (based on weighted average | |||||||||||||||||||
number of ordinary shares) | |||||||||||||||||||
- Basic | |||||||||||||||||||
from continuing operations | 5.65 sen | 4.56 sen | 5.65 sen | 4.56 sen | |||||||||||||||
from discontinued operations | 0.58 sen | 0.41 sen | 0.58 sen | 0.41 sen | |||||||||||||||
6.23 sen | 4.97 sen | 6.23 sen | 4.97 sen | ||||||||||||||||
- Diluted | |||||||||||||||||||
from continuing operations | 5.65 sen | 4.55 sen | 5.65 sen | 4.55 sen | |||||||||||||||
from discontinued operations | 0.58 sen | 0.41 sen | 0.58 sen | 0.41 sen | |||||||||||||||
6.23 sen | 4.96 sen | 6.23 sen | 4.96 sen |
- Inclusive in foreign currency translation differences for foreign operations is net loss of RM449,000 and net gain of RM20,000 in current quarter and preceding year corresponding quarter respectively from discontinued operations.
The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.
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TIME DOTCOM BERHAD
Registration No. 199601040939 (413292-P)
Incorporated in Malaysia
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
ASSETS
Non-current assets
Property, plant and equipment
Investment property
Right-of-use assets
Intangible assets
Investment in associates
Other investments
Deferred tax assets
Trade and other receivables
Current assets
Tax recoverable
Trade and other receivables
Restricted cash
Cash and cash equivalents
Assets classified as held for sale
Total assets
EQUITY AND LIABILITIES
Equity
Share capital
Reserves
Equity attributable to owners of the Company
Non-controlling interests
Total equity
Non-current liabilities
Loans and borrowings
Lease liabilities
Trade and other payables
Deferred tax liabilities
Current liabilities
Loans and borrowings
Lease liabilities
Trade and other payables
Provision for tax
Liabilities classified as held for sale
Total liabilities
Total equity and liabilities
Net assets per share attributable to ordinary owners of the Company
Unaudited As at 31/03/2023
RM'000
1,609,128
1,436
97,034
140,126
501,763
54,625
31,704
1,773
2,437,589
2,549
615,776
4,162
461,007
1,083,494
754,474
1,837,968
4,275,557
1,425,151
1,533,719
2,958,870
25,854
2,984,724
10,255
66,053
340,531
114,424
531,263
210,289
10,993
365,399
6,166
592,847
166,723
759,570
1,290,833
4,275,557
RM1.61
Audited As at 31/12/2022
RM'000
1,572,331
1,445
95,157
140,127
486,781
55,027
27,574
1,814
2,380,256
3,789
563,837
4,161
484,635
1,056,422
752,711
1,809,133
4,189,389
1,418,562
1,683,225
3,101,787
25,943
3,127,730
12,665
66,826
327,452
92,338
499,281
16,935
9,875
359,476
2,868
389,154
173,224
562,378
1,061,659
4,189,389
RM1.70
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.
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TIME DOTCOM BERHAD
Registration No. 199601040939 (413292-P)
Incorporated in Malaysia
- CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
Operating Activities
Cash receipts from customers
Transfer to / (from) restricted cash
Cash payments to suppliers
Cash payments to employees and for administrative expenses
Cash generated from operations
Tax paid
Tax refunded
Net cash generated from operating activities
Investing Activities
Acquisition of property, plant and equipment
Proceeds from disposal of property, plant and equipment
Investment income received
Net cash used in investing activities
Financing Activities
Drawdown from loans and borrowings
Repayment of loans and borrowings
Finance charges paid
Payment of lease liabilities
Proceeds from issuance of additional shares
Shareholder loan from an associate
Repayment from previous associate
Dividend paid
Net cash used in financing activities
Net change in cash and cash equivalents | |
Effect of exchange rate fluctuations on cash held | |
Cash and cash equivalents as at beginning of financial period | |
Transfer to asset held for sale | |
Cash and cash equivalents as at end of financial period | Note (a) |
Note:
-
Cash and cash equivalents comprise the following amounts: Cash and bank balances
Deposits with licensed banks
Restricted cash
Cash and cash equivalents in the statement of financial position
Unaudited Three months to 31/03/2023
RM'000
392,118
41
(157,290)
(87,113)
147,756
(10,145)
-
137,611
(92,623)
30
1,991
(90,602)
200,000
(10,507)
(1,353)
(8,074)
4,827
619
108
(270,085)
(84,465)
(37,456)
552
524,990
(27,079)
461,007
160,512
304,657
465,169
(4,162)
461,007
Unaudited Three months to 31/03/2022
RM'000
Restated
340,808
(2)
(122,284)
(78,968)
139,554
(5,672)
4
133,886
(65,814)
70
2,423
(63,321)
-
(5,644)
(804)
(31,796)
-
-
188
(240,069)
(278,125)
(207,560)
(739)
796,090
(12,014)
575,777
169,121
410,954
580,075
(4,298)
575,777
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.
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TIME DOTCOM BERHAD
Registration No. 199601040939 (413292-P)
Incorporated in Malaysia
- CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Attributable to the owners of the Company | |||||||||
Non-distributable | Distributable | ||||||||
Foreign | Equity | ||||||||
Currency | Share Grant/ | attributable to | Non- | ||||||
Share | FVOCI | Translation | Option | Hedging | Retained | owners of the | controlling | ||
Three months to | Capital | Reserve | Reserve | Reserves | Reserve | Earnings | Company | Interest | Total Equity |
31 March 2023 (Unaudited) | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 |
Balance as at 1 January 2023 | 1,418,562 | 39,096 | 29,610 | 3,114 | (84) | 1,611,489 | 3,101,787 | 25,943 | 3,127,730 |
Dividend paid
Employee share grant option scheme
Issuance of shares pursuant to the share option granted
Profit for the period
Fair value loss on equity investments designated at fair value through other comprehensive income ("FVOCI")
Exchange differences recognised directly in equity
Cash flow hedge - associate
Remeasurement of defined benefit plan
Total comprehensive income for the period
Balance as at 31 March 2023
- | - | - | - | - | (270,085) | (270,085) | - | (270,085) |
- | - | - | 205 | - | - | 205 | - | 205 |
6,589 | - | - | (1,762) | - | - | 4,827 | - | 4,827 |
- | - | - | - | - | 114,510 | 114,510 | (89) | 114,421 |
- | (402) | - | - | - | - | (402) | - | (402) |
- | - | 7,528 | - | - | - | 7,528 | - | 7,528 |
- | - | - | - | 27 | - | 27 | - | 27 |
- | - | - | - | - | 473 | 473 | - | 473 |
- | (402) | 7,528 | - | 27 | 114,983 | 122,136 | (89) | 122,047 |
1,425,151 | 38,694 | 37,138 | 1,557 | (57) | 1,456,387 | 2,958,870 | 25,854 | 2,984,724 |
The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2022.
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TIME dotCom Bhd published this content on 18 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2023 09:28:04 UTC.