DFCITY GROUP BERHAD
(formerly known as Hock Heng Stone Industries Bhd.) (Company No. : 200801038692 (840040-H))
(Incorporated in Malaysia)
Condensed Consolidated
Interim Financial Statements
For the third quarter ended
30 September 2021
Company No. : 200801038692 (840040-H)
DFCITY Group Berhad
(formerly known as Hock Heng Stone Industries Bhd.) (Incorporated in Malaysia)
Condensed Consolidated Statements of Comprehensive Income For the third quarter ended 30 September 2021
(The figures have not been audited)
Individual quarter | Cumulative quarter | ||||||||
Preceding year | Preceding year | ||||||||
Current year | corresponding | Current year- | corresponding | ||||||
quarter ended | quarter ended | to-date | period | ||||||
Note | 30.09.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | |||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||||
Continuing operations | |||||||||
Revenue | 2,266 | 4,433 | 12,281 | 10,416 | |||||
Cost of sales | (1,801) | (3,383) | (10,178) | (8,748) | |||||
Gross profit | 465 | 1,050 | 2,103 | 1,668 | |||||
Other income | 762 | 1,299 | 2,174 | 2,894 | |||||
Administrative, general and | |||||||||
selling expenses | (1,007) | (1,593) | (3,764) | (4,251) | |||||
Operating profit | 220 | 756 | 513 | 311 | |||||
Finance costs | (344) | (786) | (1,200) | (1,468) | |||||
Loss before tax | 24 | (124) | (30) | (687) | (1,157) | ||||
Income tax expense | 25 | 74 | (127) | (152) | 10 | ||||
Loss for the period | (50) | (157) | (839) | (1,147) | |||||
Other comprehensive income | - | - | - | - | |||||
Total comprehensive loss | |||||||||
for the period | (50) | (157) | (839) | (1,147) | |||||
Profit/Loss attributable to: | |||||||||
Owners of the parent | 5 | 54 | (662) | (944) | |||||
Non-controlling interests | (55) | (211) | (177) | (203) | |||||
(50) | (157) | (839) | (1,147) | ||||||
Total comprehensive profit/(loss) | |||||||||
attributable to: | |||||||||
Owners of the parent | 5 | 54 | (662) | (944) | |||||
Non-controlling interests | (55) | (211) | (177) | (203) | |||||
(50) | (157) | (839) | (1,147) | ||||||
Profit/(Loss) per share attributable | |||||||||
to owners of the parent: | |||||||||
Basic, for the period (sen) | 35 | 0.01 | 0.06 | (0.75) | (1.07) | ||||
Diluted, for the period (sen) | 35 | N/A | N/A | N/A | N/A | ||||
Notes: | |||||||||
N/A | Not applicable |
These Condensed Consolidated Statements of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.
Page 1
Company No. : 200801038692 (840040-H) | ||||
DFCITY Group Berhad | ||||
(formerly known as Hock Heng Stone Industries Bhd.) | ||||
(Incorporated in Malaysia) | ||||
Condensed Consolidated Statements of Financial Position | ||||
As at 30 September 2021 | ||||
Unaudited | Audited | |||
As at | As at | |||
Note | 30.09.2021 | 31.12.2020 | ||
RM'000 | RM'000 | |||
Assets | ||||
Non-current assets | ||||
Property, plant and equipment | 7 | 18,699 | 19,084 | |
Investment properties | 8 | 4,067 | 5,551 | |
Right-of-use assets | 2,769 | 3,411 | ||
Inventories | 4,076 | 4,076 | ||
Deferred tax assets | 106 | - | ||
29,717 | 32,122 | |||
Current assets | ||||
Assets held for sale | - | 1,184 | ||
Inventories | 9 | 55,873 | 55,339 | |
Trade receivables and other receivables | 27 | 6,303 | 4,728 | |
Other current assets | 832 | 435 | ||
Contract assets | 854 | - | ||
Current tax assets | 428 | 490 | ||
Cash and bank balances | 1,413 | 2,907 | ||
65,703 | 65,083 | |||
Total assets | 95,420 | 97,205 | ||
Equity and liabilities | ||||
Equity attributable to owners of the parent | ||||
Share capital | 44,398 | 44,398 | ||
Treasury shares | (15) | (15) | ||
Retained earnings | 9,344 | 10,006 | ||
53,727 | 54,389 | |||
Non-controlling interests | (715) | (538) | ||
Total equity | 53,012 | 53,851 | ||
Non-current liabilities | ||||
Deferred tax liabilities | - | 58 | ||
Borrowings | 28 | 18,155 | 19,167 | |
Lease liabilities | 28 | 114 | 439 | |
18,269 | 19,664 | |||
Current liabilities | ||||
Trade payables and other payables | 10,685 | 10,151 | ||
Contract liabilities | 163 | |||
Lease liabilities | 28 | 252 | 321 | |
Borrowings | 28 | 13,202 | 13,055 | |
24,139 | 23,690 | |||
Total liabilities | 42,408 | 43,354 | ||
Total equity and liabilities | 95,420 | 97,205 | ||
Net assets per share attributable to equity holders | ||||
of the Company (sen) | 61.06 | 61.81 |
These Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.
Page 2
Company No. : 200801038692 (840040-H) | ||||||
DFCITY Group Berhad | ||||||
(formerly known as Hock Heng Stone Industries Bhd.) | ||||||
(Incorporated in Malaysia) | ||||||
Condensed Consolidated Statements of Changes in Equity | ||||||
For the third quarter ended 30 September 2021 | ||||||
(The figures have not been audited) | ||||||
Attributable to equity holders of the parent | ||||||
Total equity | ||||||
Distributable | attributable | Non- | ||||
Share | Treasury | Retained | to owners of | controlling | Total | |
capital | shares | earnings | the parent | interests | equity | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
Opening balance at 1 January 2020 | 44,398 | (15) | 11,095 | 55,478 | (296) | 55,182 |
Total comprehensive loss for the period | - | - | (944) | (944) | (203) | (1,147) |
Closing balance at 30 September 2020 | 44,398 | (15) | 10,151 | 54,534 | (499) | 54,035 |
Opening balance at 1 January 2021 | 44,398 | (15) | 10,006 | 54,389 | (538) | 53,851 |
Total comprehensive loss for the period | - | - | (662) | (662) | (177) | (839) |
Closing balance at 30 September 2021 | 44,398 | (15) | 9,344 | 53,727 | (715) | 53,012 |
These Condensed Consolidated Statements of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.
Page 3
Company No. : 200801038692 (840040-H) | ||||
DFCITY Group Berhad | ||||
(formerly known as Hock Heng Stone Industries Bhd.) | ||||
(Incorporated in Malaysia) | ||||
Condensed Consolidated Statements of Cash Flows | ||||
For the third quarter ended 30 September 2021 | ||||
(The figures have not been audited) | ||||
Preceding year | ||||
Current year- | corresponding | |||
to-date | period | |||
Note | 30.09.2021 | 30.09.2020 | ||
RM'000 | RM'000 | |||
Cash flows from operating activities | ||||
Loss before tax | (687) | (1,157) | ||
Adjustment for: | ||||
Amortisation of right-of-use assets | 267 | 310 | ||
Depreciation of property, plant and equipment | 743 | 836 | ||
Depreciation of investment properties | 97 | 110 | ||
Impairment loss on trade receivables | 118 | 81 | ||
Reversal of impairment loss on trade receivables | (997) | (281) | ||
Bad debt written off | 118 | - | ||
Unrealised loss on foreign exchange | 5 | 2 | ||
Gain on disposal of property, plant and equipment | (85) | (24) | ||
Gain on disposal of investment properties | (708) | - | ||
Inventories written down | - | 20 | ||
Interest expense | 1,200 | 1,468 | ||
Interest income | (10) | (18) | ||
Operating (loss)/profit before changes in working capital | 61 | 1,347 | ||
Changes in working capital: | ||||
Property development costs | (14) | (12) | ||
Inventories | (520) | 702 | ||
Receivables | (577) | (238) | ||
Contract asset | (1,219) | (76) | ||
Other current assets | (397) | 75 | ||
Payables | 529 | 796 | ||
Cash generated (used in)/from operations | (2,137) | 2,594 | ||
Income tax paid | (149) | (236) | ||
Net cash (used in)/from operating activities | (2,286) | 2,358 | ||
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | 7 | - | (130) | |
Proceeds from disposal of property, plant and equipment | 7 | 830 | 25 | |
Proceeds from disposal of investment property | 8 | 2,590 | - | |
Interest received | 10 | 18 | ||
Net cash from/(used in) investing activities | 3,430 | (87) | ||
Cash flows from financing activities | ||||
Deposit withdrew from licensed banks | 78 | 90 | ||
Interest paid | (1,200) | (1,468) | ||
Increase of short term borrowings | 835 | 77 | ||
Repayment of term loans | (1,524) | (458) | ||
Repayment of obligation under finance leases | (394) | (231) | ||
Net cash used in financing activities | (2,205) | (1,990) |
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DFCITY Group Bhd published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 00:38:01 UTC.