United Overseas Australia : UOA Development Bhd - Profit Result (1st Qtr 2022)

For personal use only

For personal use only

UOA DEVELOPMENT BHD Interim Financial Report - 31 March 2022

For personal use only

CONTENTS

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT

1

2

3

4

5 - 14

UOA DEVELOPMENT BHD Interim Financial Report - 31 March 2022

1

UOA DEVELOPMENT BHD 200401015520 (654023-V)

(Incorporated in Malaysia)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MAR 2022

For personal use only

		As At		As At
		31 March 2022	31 December 2021
		RM'000		RM'000
ASSETS		(Unaudited)		(Audited)
Non-current assets
Property, plant and equipment	Note 1	349,789	351,108
Investment properties		1,615,898	1,608,236
Inventories		596,749	591,433
Equity investments		89,730	92,942
Deferred tax assets		35,444	35,145
Other receivables		1,014		4,359
		2,688,624	2,683,223
Current assets
Inventories		1,327,657	1,315,994
Contract assets		125,374	124,022
Trade and other receivables		397,928	444,101
Amount owing by holding company		5	2
Amount owing by related companies		1,504	1,571
Current tax assets		49,331	46,206
Short term investments		949,529	834,724
Fixed deposits with licensed banks		265,202	390,347
Cash and bank balances		581,754		569,228
		3,698,284		3,726,195
TOTAL ASSETS		6,386,908	6,409,418
EQUITY AND LIABILITIES
Equity
Share capital		2,821,766	2,821,766
Merger reserve		2,252	2,252
Fair value reserve		10,012	13,224
Retained earnings		2,819,252	2,793,867
Less : Treasury shares		(2,119)		(2,119)
Equity attributable to owners of the Company		5,651,163	5,628,990
Non-controlling interests		176,989		175,804
Total equity		5,828,152	5,804,794
Non-current liabilities
Amount owing to non-controlling shareholders of subsidiary companies	1,711	258
Lease liabilities		628	413
Long term borrowings		245	256
Deferred tax liabilities		44,318		42,811
		46,902	43,738
Current liabilities
Trade and other payables		463,001	511,045
Amount owing to holding company		129	195
Amount owing to related companies		175	247
Amount owing to non-controlling shareholders of subsidiary company	45,500	47,248
Lease liabilities		541	586
Short term borrowings		43	43
Current tax liabilities		2,465		1,522
		511,854		560,886
TOTAL LIABILITIES		558,756		604,624
TOTAL EQUITY AND LIABILITIES		6,386,908		6,409,418
Net Asset Per Share (RM)		2.43		2.42
Based on number of shares net of treasury shares		2,326,465,500		2,326,465,500

Note 1 : Included in the net carrying amount of property, plant and equipment are right-of-use assets of

RM208,976,000 (2021: RM209,973,000).

The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial report.

For personal use only

UOA DEVELOPMENT BHD Interim Financial Report - 31 March 2022

2

UOA DEVELOPMENT BHD 200401015520 (654023-V)

(Incorporated in Malaysia)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE FINANCIAL PERIOD ENDED 31 MAR 2022

	Individual Quarter Ended		Cumulative Quarter Ended
	31 March		31 March		31 March		31 March
	2022	2021	2022	2021
	RM'000		RM'000		RM'000		RM'000
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Revenue	54,576	140,173	54,576	140,173
Cost of sales	(31,154)		(90,501)		(31,154)		(90,501)
Gross profit	23,422	49,672	23,422	49,672
Other income	51,113	38,622	51,113	38,622
Impairment losses of financial assets	521	(1,043)	521	(1,043)
Administrative and general expenses	(31,720)	(29,774)	(31,720)	(29,774)
Other expenses	(10,737)	(10,442)	(10,737)	(10,442)
Finance income	5,626	6,087	5,626	6,087
Finance costs	(37)		(45)		(37)		(45)
Profit before tax	38,188	53,077	38,188	53,077
Tax expense	(10,912)		(15,369)		(10,912)		(15,369)
Profit for the financial year	27,276	37,708	27,276	37,708
Other comprehensive income, net of tax
Items that will not be reclassified to profit or loss
Fair value loss on remeasuring of
financial assets	(3,212)	(2,973)	(3,212)	(2,973)
Total comprehensive income for the financial year	24,064	34,735	24,064	34,735
Profit attributable to:
Owners of the Company	25,385	36,091	25,385	36,091
Non-controlling interests	1,891		1,617		1,891		1,617
	27,276	37,708	27,276	37,708
Total comprehensive income attributable to:
Owners of the Company	22,173	33,118	22,173	33,118
Non-controlling interests	1,891		1,617		1,891		1,617
	24,064	34,735	24,064	34,735
Earnings per share (Sen)
- Basic earnings per share	1.09	1.70	1.09	1.70
- Diluted earnings per share	N/A		N/A		N/A		N/A

The condensed consolidated statement of comprehensive income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial report.