I Global : Half Yearly Report - 30 June 2021

I-Global Holdings Limited

ABN 28 611 470 010

Financial Statements

For the Half Year Ended 30 June 2021

I-Global Holdings Limited

ABN 28 611 470 010

Contents

For the Half Year Ended 30 June 2021

	Page
Financial Statements
Directors' Report	1
Auditor's Independence Declaration under Section 307C of the Corporations Act 2001	3
Statement of Profit or Loss and Other Comprehensive Income	4
Statement of Financial Position	5
Statement of Changes in Equity	6
Statement of Cash Flows	7
Notes to the Financial Statements	8
Directors' Declaration	15
Independent Auditor's Review Report	16

I-Global Holdings Limited

ABN 28 611 470 010

Directors' Report

For the Half Year Ended 30 June 2021

The directors present their report on I-Global Holdings Limited ("the Company") for the half year ended 30 June 2021.

Information on directors

The names of each person who has been a director during the half year and to the date of this report are: Koon Lip Choo

Francesco Cannavo

Justyn Peter Stedwell

Principal activities and significant changes in nature of activities

The principal activities of I-Global Holdings Limited during the financial half year were the provision of management and corporate consulting services to Australian and international clients.

There were no significant changes in the nature of I-Global Holdings Limited's principal activities during the financial half year.

Review of operations

Operations during the period were focused on the continued growth of the management and corporate consulting business. The Company's chairman, Dr Koon Lip Choo, leads a small team of consultants in providing these services with specific focus on corporate management consulting. This business unit is expected to generate the main source of income for the Company.

Significant changes in state of affairs

There have been no significant changes in the state of affairs of the Company during the half year.

Events after the reporting date

In September 2021, the Company received extension agreements for the various loans with third parties. The extensions to the agreements were for a further period of 2 years and the outstanding amounts are now repayable between 13 August and 18 December 2023.

The COVID-19 pandemic has created unprecedented economic uncertainty. Actual economic events and conditions in the future may be materially different from those estimated by the Company at the reporting date. As responses by government continue to evolve, management recognises that it is difficult to reliably estimate with any degree of certainty the potential impact of the pandemic after the reporting date on the Company's operations, its future results and financial position. The state of emergency in Victoria was extended 23 September 2021. Refer to Note 9 to the financial report for further information regarding the impact of COVID-19 on the Company's operations.

Except for the above, no other matters or circumstances have arisen since the end of the financial half year which significantly affected or could significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.

1

I-Global Holdings Limited

ABN 28 611 470 010

Directors' Report

For the Half Year Ended 30 June 2021

Auditor's independence declaration

The auditor's independence declaration in accordance with section 307C of the Corporations Act 2001 for the half year ended 30 June 2021 has been received and can be found on page 3 of the financial report.

This report is signed in accordance with a resolution of the Board of Directors.

Director: ................................................................................................................................................

Dr Koon Lip Choo

Dated this 13th day of September 2021

2

AUDITOR'S INDEPENDENCE DECLARATION

UNDER SECTION 307C OF THE CORPORATIONS ACT 2001

As lead auditor for the review of I-Global Holdings Limited for the half-year ended 30 June 2021, I declare that, to the best of my knowledge and belief, there have been:

1. no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and
2. no contraventions of any applicable code of professional conduct in relation to the review.

This declaration is in respect of I-Global Holdings Limited.

George Georgiou FCA

Managing Partner

Connect National Audit Pty Ltd

ASIC Authorised Audit Company No.: 521888

Melbourne, Victoria

Date: 13 September 2021

Connect National Audit Pty Ltd is an Authorised Audit Company	Head Office: Level 8, 350 Collins St, Melbourne VIC 3000
ABN 43 605 713 040	Gold Coast Office: HQ@Robina, Suite 41, Level 4,
	58 Riverwalk Avenue, Robina QLD 4226
Liability limited by a scheme approved under Professional Standards Legislation	w: www.connectaudit.com.au