Quarterly report on consolidated results for the six months ended 30 June 2017. The figures have not been audited.
CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017UNAUDITED INDIVIDUAL QUARTER | UNAUDITED CUMULATIVE PERIOD | ||||
Second quarter ended 30 June | Six months ended 30 June | ||||
2017 | 2016 | 2017 | 2016 | ||
RM '000 | RM'0 00 | RM '000 | RM'0 00 | ||
Revenue | 2,291,583 | 2,234,605 | 4,515,401 | 4,448,959 | |
Cost of sales | (1,762,663) | (1,553,897) | (3,446,764) | (3,168,964) | |
Gross profit | 528,920 | 680,708 | 1,068,637 | 1,279,995 | |
Other income | 123,179 | 102,161 | 253,702 | 198,214 | |
Other expenses | (337,737) | (250,292) | (644,565) | (668,992) | |
Profit from operations before impairment losses | 314,362 | 532,577 | 677,774 | 809,217 | |
Impairment losses | (36,776) | - | (36,776) | (228) | |
Profit from operations | 277,586 | 532,577 | 640,998 | 808,989 | |
Finance costs | (30,798) | (20,523) | (49,884) | (34,819) | |
Profit before taxation | 246,788 | 512,054 | 591,114 | 774,170 | |
Taxation | (73,212) | (46,789) | (122,652) | (164,774) | |
Profit for the financial period | 173,576 | 465,265 | 468,462 | 609,396 | |
Profit attributable to: | |||||
Equity holders of the Company | 193,423 | 476,444 | 516,938 | 638,011 | |
Non-controlling interests | (19,847) | (11,179) | (48,476) | (28,615) | |
173,576 | 465,265 | 468,462 | 609,396 | ||
Earnings per share attributable to equity holders of the Company: | |||||
Basic earnings per share (sen) | 3.42 | 8.42 | 9.13 | 11.28 | |
Diluted earnings per share (sen) | 3.41 | 8.41 | 9.12 | 11.27 |
(The Condensed Consolidated Income Statement should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
GENTING MALAYSIA BERHAD CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2017 | |||||
UNAUDITED INDIVIDUAL QUARTER | UNAUDITED CUMULATIVE PERIOD | ||||
Second quarter ended 30 June | Six months ended 30 June | ||||
2017 | 2016 | 2017 | 2016 | ||
RM '000 | RM'0 00 | RM '000 | RM'0 00 | ||
Profit for the financial period | 173,576 | 465,265 | 468,462 | 609,396 | |
Other comprehensive (loss)/income | |||||
Items that will be reclassified subsequently to profit or loss: | |||||
Available-for-sale financial assets | |||||
- Fair value loss | - | (145,159) | - | (173,079) | |
Cash flow hedges | |||||
- Fair value gain/(loss) | 974 | 631 | (1,151) | (557) | |
Foreign currency exchange differences | (277,518) | 124,403 | (346,707) | (1,101,677) | |
Other comprehensive loss, net of tax | (276,544) | (20,125) | (347,858) | (1,275,313) | |
Total comprehensive (loss)/income for the financial period | (102,968) | 445,140 | 120,604 | (665,917) | |
Total comprehensive (loss)/income attributable to: | |||||
Equity holders of the Company | (87,813) | 458,064 | 162,996 | (634,164) | |
Non-controlling interests | (15,155) | (12,924) | (42,392) | (31,753) | |
(102,968) | 445,140 | 120,604 | (665,917) |
(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
GENTING MALAYSIA BERHAD CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2017 | |||
UNAUDITED | |||
As at 30.06.2017 | As at 31.12.2016 | ||
RM'000 | RM'000 | ||
ASSETS Non-current assets | |||
Property, plant and equipment | 13,043,844 | 12,158,625 | |
Land held for property development | 184,672 | 184,672 | |
Investment properties | 2,248,528 | 2,317,873 | |
Intangible assets | 4,845,037 | 5,036,343 | |
Available-for-sale financial assets | 98,648 | 102,892 | |
Other non-current assets | 1,737,784 | 1,842,383 | |
Deferred tax assets | 91,513 | 122,415 | |
22,250,026 | 21,765,203 | ||
Current assets | |||
Inventories | 109,450 | 98,221 | |
Trade and other receivables | 560,428 | 566,850 | |
Amounts due from other related companies | 7,545 | 9,493 | |
Financial asset at fair value through profit or loss | 9,000 | 10,799 | |
Available-for-sale financial assets | 340,048 | 550,000 | |
Derivative financial instruments | - | 3,064 | |
Restricted cash | 53,826 | 35,053 | |
Cash and cash equivalents | 6,468,544 | 4,855,700 | |
7,548,841 | 6,129,180 | ||
TOTAL ASSETS | 29,798,867 | 27,894,383 | |
EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the Company | |||
Share capital | 1,764,424 | 593,804 | |
Reserves | 18,456,487 | 20,228,241 | |
Treasury shares | (911,258) | (911,258) | |
Shares held for employee share scheme | (21,678) | (45,769) | |
19,287,975 | 19,865,018 | ||
Non-controlling interests | (162,045) | (119,653) | |
TOTAL EQUITY | 19,125,930 | 19,745,365 | |
Non-current liabilities | |||
Other long term liabilities | 219,423 | 220,337 | |
Long term borrowings | 6,196,501 | 3,223,146 | |
Deferred tax liabilities | 668,367 | 673,771 | |
7,084,291 | 4,117,254 | ||
Current liabilities | |||
Trade and other payables | 2,454,761 | 2,738,495 | |
Amount due to holding company | 19,805 | 19,886 | |
Amounts due to other related companies | 118,545 | 162,031 | |
Short term borrowings | 979,802 | 1,103,426 | |
Derivative financial instruments | 2,072 | 4,006 | |
Taxation | 13,661 | 3,920 | |
3,588,646 | 4,031,764 | ||
TOTAL LIABILITIES | 10,672,937 | 8,149,018 | |
TOTAL EQUITY AND LIABILITIES | 29,798,867 | 27,894,383 | |
NET ASSETS PER SHARE (RM) | 3.41 | 3.51 | |
(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.) |
Attributable to equity holders of the Company
Cash Flow | Shares held for | Non- | |||||||
Share | Share | Hedges | Other | Treasury | Employee Share | Retained | controlling | ||
Capital | Premium | Reserve | Reserves | Shares | Scheme | Earnings | Total | Interests | Total Equity |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 |
593,804 1,170,620 (739) 2,250,313 (911,258) (45,769) | 16,808,047 | 19,865,018 | (119,653) | 19,745,365 | |||||
1,170,620 | (1,170,620) | - | - | - | - | - | - | - | - |
- | - | - | - | - | - | 516,938 | 516,938 | (48,476) | 468,462 |
- | - | (1,151) | (352,791) | - | - | - | (353,942) | 6,084 | (347,858) |
- | - | (1,151) | (352,791) | - | - | 516,938 | 162,996 | (42,392) | 120,604 |
- | - | - | 24,050 | - | - | - | 24,050 | - | 24,050 |
- | - | - | (24,091) | - | 24,091 | - | - | - | - |
- | - | - | - | - | - | (412,976) | (412,976) | - | (412,976) |
- | - | - | - | - | - | (351,113) | (351,113) | - | (351,113) |
- | - | - | (41) | - | 24,091 | (764,089) | (740,039) | - | (740,039) |
1,764,424 | - | (1,890) | 1,897,481 | (911,258) | (21,678) | 16,560,896 | 19,287,975 | (162,045) | 19,125,930 |
Note
With the Companies Act 2016 ("the Act") that came into effect on 31 January 2017, the credit standing in the share premium account of RM1,170.6 million has been transferred to share capital account. Pursuant to subsection 618(3) of the Act, the Group may exercise its right to use the amount standing to the credit of its share premium within 24 months after the commencement of the Act. The Board of Directors will make a decision thereon before 31 January 2019. The balance of RM1,764.4 million in share capital represents 5,938.0 million ordinary shares.
(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
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