Hibiscus Petroleum Berhad : Quarterly report for the financial period ended 31 December 2021

HIBISCUS PETROLEUM BERHAD

(Registration Number: 200701040290 (798322-P))

(Incorporated in Malaysia)

Unaudited Quarterly Financial Report

31 December 2021

(Second financial quarter of financial year ending 30 June 2022)

(Note: This Unaudited Quarterly Financial Report is supplemented by the Corporate and Business Update released on the same day, on 17 February 2022.)

HIBISCUS PETROLEUM BERHAD

(Registration Number: 200701040290 (798322-P))

(Incorporated in Malaysia)

QUARTERLY REPORT FOR THE QUARTER ENDED 31 DECEMBER 2021

(Second financial quarter of financial year ending 30 June 2022)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

		INDIVIDUAL QUARTER	CUMULATIVE QUARTER
		QUARTER	QUARTER	PERIOD	PERIOD
		ENDED	ENDED	ENDED	ENDED
		31.12.2021	31.12.2020	31.12.2021	31.12.2020
	Note	RM'000	RM'000	RM'000	RM'000
Revenue		284,404	190,285	531,094	335,778
Cost of sales		(92,266)	(86,927)	(181,572)	(156,414)
GROSS PROFIT		192,138	103,358	349,522	179,364
Other income	27	255	29	482	6,362
Administrative expenses		(50,405)	(39,048)	(84,215)	(50,863)
Other expenses		(42,634)	(45,240)	(81,791)	(89,541)
Finance costs		(10,597)	(11,077)	(20,361)	(19,781)
Share of results of an associate		(90)	(108)	(200)	(859)
PROFIT BEFORE TAXATION	28	88,667	7,914	163,437	24,682
Taxation	29	(40,179)	4,103	(73,426)	(2,633)
PROFIT AFTER TAXATION		48,488	12,017	90,011	22,049
PROFIT AFTER TAXATION
ATTRIBUTABLE TO:
- Owners of the Company		48,488	12,017	90,011	22,049
EARNINGS PER SHARE (SEN)
Basic	26	2.42	0.74	4.48	1.37
Diluted	26	2.41	0.67	4.47	1.31

Note:

Earnings Before Interest,
Taxes, Depreciation
and Amortisation
("EBITDA")	139,909	63,178	263,544	128,465

(Please refer to Part A, Note 11 and Part B, Notes 15 and 16 of this Quarterly Report for further details.)

The Unaudited Condensed Consolidated Statements of Profit or Loss should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.

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HIBISCUS PETROLEUM BERHAD

(Registration Number: 200701040290 (798322-P))

(Incorporated in Malaysia)

QUARTERLY REPORT FOR THE QUARTER ENDED 31 DECEMBER 2021

(Second financial quarter of financial year ending 30 June 2022)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	INDIVIDUAL QUARTER	CUMULATIVE QUARTER
	QUARTER	QUARTER	PERIOD	PERIOD
	ENDED	ENDED	ENDED	ENDED
	31.12.2021	31.12.2020	31.12.2021	31.12.2020
	RM'000	RM'000	RM'000	RM'000
PROFIT AFTER TAXATION	48,488	12,017	90,011	22,049
Other comprehensive (expenses)/income:
Item that may be subsequently reclassified
to profit or loss:
- Foreign currency translation *	(5,309)	(36,390)	5,653	(70,947)
TOTAL COMPREHENSIVE
INCOME/(EXPENSES) FOR THE
QUARTER/PERIOD	43,179	(24,373)	95,664	(48,898)
TOTAL COMPREHENSIVE
INCOME/(EXPENSES) ATTRIBUTABLE
TO:
- Owners of the Company	43,179	(24,373)	95,664	(48,898)

• Arising from translation of Group entities' financial statements with different functional currencies recognised directly in reserves.

The Unaudited Condensed Consolidated Statements of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.

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HIBISCUS PETROLEUM BERHAD

(Registration Number: 200701040290 (798322-P))

(Incorporated in Malaysia)

QUARTERLY REPORT FOR THE QUARTER ENDED 31 DECEMBER 2021

(Second financial quarter of financial year ending 30 June 2022)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Note

ASSETS

NON-CURRENT ASSETS

Intangible assets

Equipment

Right-of-use assets

Other receivables

Investment in an associate

Restricted cash and bank balances

CURRENT ASSETS

Inventories

Trade receivables

Other receivables, deposits and prepayments

Other investment

Amount owing by a joint venture

Cash and bank balances

TOTAL ASSETS
EQUITY AND LIABILITIES
EQUITY
Share capital	10
Other reserves
Retained earnings
NON-CURRENT LIABILITIES
Other payables
Borrowings	30

Convertible Redeemable Preference Shares ("CRPS")

- Liability Component Contingent consideration Deferred tax liabilities

Provision for decommissioning costs

UNAUDITED	AUDITED
AS AT	AS AT
31.12.2021	30.06.2021
RM'000	RM'000
1,353,459	1,375,808
584,921	604,833
9,598	12,407
3,463	5,458
4,290	4,381
135,130	125,581
2,090,861	2,128,468
38,019	49,462
120,886	112,905
160,222	182,808
-	136,430
319	318
689,272	177,652
1,008,718	659,575
3,099,579	2,788,043
963,491	959,892
67,670	62,165
521,801	451,865
1,552,962	1,473,922
3,228	9,545
7,445	11,230
-	5,677
40,435	19,683
489,460	471,958
333,507	322,697
874,075	840,790

The Unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.

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HIBISCUS PETROLEUM BERHAD

(Registration Number: 200701040290 (798322-P))

(Incorporated in Malaysia)

QUARTERLY REPORT FOR THE QUARTER ENDED 31 DECEMBER 2021

(Second financial quarter of financial year ending 30 June 2022)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONT'D)

		UNAUDITED	AUDITED
		AS AT	AS AT
		31.12.2021	30.06.2021
	Note	RM'000	RM'000
CURRENT LIABILITIES
Trade payables		36,640	9,638
Other payables and accruals		553,941	293,072
Borrowings	30	12,185	15,540
CRPS - Liability Component		2,366	-
Amount owing to a joint venture		318	318
Amount owing to an associate		12	119
Contingent consideration		6,922	25,251
Provision for decommissioning costs		-	58,677
Provision for taxation		59,939	70,497
Redeemable Convertible Preference Shares		219	219
		672,542	473,331
TOTAL LIABILITIES		1,546,617	1,314,121
TOTAL EQUITY AND LIABILITIES		3,099,579	2,788,043
NET ASSETS PER SHARE (RM)		0.77	0.74

The Unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached to the financial statements.

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