Financial Statements and Related Announcement::Third Quarter Results

INCH KENNETH KAJANG RUBBER PUBLIC LIMITED COMPANY (990261 M) (Incorporated in Scotland)

UNAUDITED CONDENSED CONSOLIDATED

STATEMENT OF PROFIT OR LOSS FOR THE PERIOD ENDED 30 SEPTEMBER 2021

Current	Preceding		Current	Preceding
Year	Year		Year	Year
Quarter	Corresponding	Changes	To date	Corresponding	Changes
	Quarter			Period
30.9.2021	30.9.2020		30.9.2021	30.9.2020
RM'000	RM'000	RM %	RM'000	RM'000	RM	%

Group revenue	13,334	4,306
Operating expenses	(15,285)	(5,178)
Other operating
income and expenses	(190)		178
Operating loss	(2,141)	(694)
Finance income	12	418
Finance costs	(4)	(39)
Gain on disposal of
investment	-	-
Realised gain on
redemption of short
term investments	-	28
Impairment of
investment in
associate / subsidiary	-	-
Share of results of
associate	(882)		(1,877)
Loss before tax	(3,015)	(2,164)
Taxation (note 13)	-	-
Net Loss	(3,015)	(2,164)
Loss Per Share:
Basic and diluted	(0.80)	(0.57)
(sen)

9,028	210	25,303	4,092	21,211	518
(10,107)	(195)	(33,094)	(11,505)	(21,589)	(188)
(368)	(207)	516		294	(222)	(76)
		(7,275)	(7,814)
(406)	(97)	120	881	(761)	(86)
34	90	(15)	(67)	52	78
		-	-
(28)	(100)	-	(713)	713	100
		-	-
995	53	(2,887)		(4,708)	1,821	39
		(10,057)	(12,421)
		-	-
		(10,057)		(12,421)
		(2.66)	(3.28)

Exchange Rate as at 30 September 2021: £1 = RM5.6269

1RM = £ 0.1778

(The condensed consolidated statement of profit or loss should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2020 and the accompanying explanatory notes attached to the interim financial statements)

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INCH KENNETH KAJANG RUBBER PUBLIC LIMITED COMPANY (990261 M) (Incorporated in Scotland)

UNAUDITED CONDENSED CONSOLIDATED

STATEMENT OF PROFIT OR LOSS FOR THE PERIOD ENDED 30 SEPTEMBER 2021

Current
Year	Preceding
Quarter	Quarter	Changes	Changes
30.9.2021	30.6.2021
RM'000	RM'000	RM	%

Group revenue	13,334	7,121
Operating expenses	(15,285)	(9,596)
Other operating income and expenses	(190)		191
Operating loss	(2,141)	(2,475)
Finance income	12	31
Finance costs	(4)	(5)
Revaluation of investment property	-	-
Gain on disposal of investment	-	-
Realised (loss)/gain on redemption of short	-	-
term investments
Impairment of investment in associate /	-	-
subsidiary
Share of results of associate	(882)		(679)
Loss before tax	(3,015)	(3,128)
Taxation (note 13)	-	-
Net Loss	(3,015)	(3,128)

6,21387

(5,689)(59)

1. (200)

1. (61)

120

1. (30)

Loss Per Share:
Basic and diluted (sen)	(0.80)	(0.83)

Exchange Rate as at 30 September 2021: £1 = RM5.6269

1RM = £ 0.1778

(The condensed consolidated statement of profit or loss should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2020 and the accompanying explanatory notes attached to the interim financial statements)

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INCH KENNETH KAJANG RUBBER PUBLIC LIMITED COMPANY (990261 M)

(Incorporated in Scotland)

UNAUDITED CONDENSED CONSOLIDATED

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 SEPTEMBER 2021

	Current		Preceding Year	Current	Preceding
	Year		Corresponding	Year	Year
	Quarter		Quarter	To date	Corresponding
							Period
	30.9.2021	30.9.2020	30.9.2021	30.9.2020
	RM'000		RM'000	RM'000	RM'000
Net loss for the period	(3,015)	(2,164)		(10,057)		(12,421)
Other comprehensive (loss)/income :
Revaluation of equity and short term	-	-		-		-
investments
Reclassification adjustments on
short term investments	(6,672)	99		(9,070)		762
Revaluation of freehold lands	-	-		-		-
Exchange differences on translating foreign
operations	(289)	443		(2,508)		(2,004)
Total comprehensive (loss)/income for the
period	(9,976)		(1,622)		(21,635)		(13,663)

(The condensed consolidated statement of comprehensive income should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2020 and the accompanying explanatory notes attached to the interim financial statements)

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INCH KENNETH KAJANG RUBBER PUBLIC LIMITED COMPANY (990261 M)

(Incorporated in Scotland)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2021

		30.9.2021	31.12.2020
	Notes	RM'000		RM'000
		(Unaudited)		(Audited)
ASSETS
Non-current assets
Property, plant & equipment	16	45,489	46,493
Land held for development	20	519,100	519,100
Intangible assets	17	7	13
Investment property	18	23,930	23,930
Right of Use Assets	19	2,042	2,513
Investment in associated undertaking	21	-	2,887
Goodwill on consolidation	22	-	-
Available-for-sale investments	23	3,690		752
		594,256	595,688
Current assets
Inventories		1,423	1,969
Trade and other receivables		74,691	75,795
Short term investments	24	1,898	21,117
Cash and cash equivalents	25	6,431		5,785
		84,443		104,666
TOTAL ASSETS		678,699	700,354
EQUITY AND LIABILITIES
Equity attributable to shareholders of the Company
Share capital		287,343	287,343
Share premium		8	8
Property revaluation reserve		286,123	286,123
Investment revaluation reserve		9,127	18,197
Foreign currency translation reserve		(3,211)	(703)
Retained earnings		39,719		49,776
		619,109	640,744
Less : Treasury shares	26	(31,939)	(31,939)
TOTAL EQUITY		587,170	608,805
Current liabilities
Trade and other payables		2,267	1,766
Lease Liability		298	589
Taxation payable		(102)		(17)
		2,463	2,338
Non-current liabilities
Employee entitlements		246	246
Deferred Tax Liabilities		85,767	85,767
Deferred Lease Liabilities		1,797	1,942
Deferred Government Grant		1,256		1,256
		89,066		89,211
TOTAL LIABILITIES		91,529		91,549
TOTAL EQUITY AND LIABILITIES		678,699		700,354
Net assets per share		1.55	1.61

(The condensed consolidated statement of financial position should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2020 and the accompanying explanatory notes attached to the interim financial statements)

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INCH KENNETH KAJANG RUBBER PUBLIC LIMITED COMPANY (990261 M)

(Incorporated in Scotland)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 SEPTEMBER 2021

		Share	Share	Property	Investment	Foreign	Retained	Treasury	Total
		Capital	Premium	Revaluation Revaluation	Exchange	Earnings	Shares	Equity
				Reserve	Reserve	Reserve
		RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
9 Months ended 30 September 2021
At 1 January 2021	287,343	8	286,123	18,197	(703)	49,776	(31,939)	608,805
Loss for the period	-	-	-	-	-	(10,057)	-	(10,057)
Other comprehensive
(loss)/income:
Revaluation of freehold lands	-	-	-	-	-	-	-	-
Revaluation of investments	-	-	-	(9,070)	-	-	-	(9,070)
Foreign currency translation	-	-	-	-	(2,508)	-	-	(2,508)
Total comprehensive							-
(loss)/income	-	-	-	(9,070)	(2,508)	-	(11,578)
Other movements:
Dividends paid	-	-	-	-	-	-	-	-
At 30 September 2021
287,343	8	286,123	9,127	(3,211)	39,719	(31,939)	587,170
9 Months ended 30 September 2020
At 1 January 2020	287,343	8	286,123	17,691	(1,045)	69,680	(31,939)	627,861
Loss for the period	-	-	-	-	-	(12,421)	-	(12,421)
Other comprehensive
income/(loss):
Revaluation of freehold lands	-	-	-	-	-	-	-	-
Revaluation of investments	-	-	-	762	-	-	-	762
Foreign currency translation	-	-	-	-	(2,004)	-	-	(2,004)
Total comprehensive							-
(loss)/income	-	-	-	762	(2,004)	-	(1,242)
Other movements:
Dividends paid	-	-	-	-	-	-	-	-
At 30 September 2020
287,343	8	286,123	18,453	(3,049)	53,245	(31,939)	610,184

(The condensed consolidated statement of changes in equity should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2020 and the accompanying explanatory notes attached to the interim financial statements)

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