Financial Statements And Related Announcement :: Half Yearly Results

Financial Statements and Dividend Announcement For the Half Year ended 30 September 2017

PART I ·INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (QI, Q2 & Q3), HALF YEAR AND FULL YEAR RESULTS

Group
Half Year ended 30/09/2017	Half Year ended 30/06/2016	Increase/ (Decrease)
5$'000	5$'000	%
15,610	22,024	(29.12)
(8,967 )	(13,227)	(32.21)
6,643	8,797	(24.49 )
1,375	971	41.61
(8,808)	(9,250)	(4.78)
(1,211)	(2,404)	(49.63)
(2,994 )	(1,711)	74.99
(536)	(484)	10.74
(5,531)	(4,081)	35.53
(195 )	(66)	195.45
(5,726)	(4,147)	38.08
(5,726 )	(4,147)	38.08

l(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year

Revenue Cost of sales Gross Profit

Other operating income Administrative expenses Distribution and marketing costs Other operating expenses Finance costs

(Loss)/ Profit before taxation

Taxation

(Loss)/ Profit after taxation (Loss)/ Profit attr ibutable to: Equity holders of the Company

Half Year ended 30/09/2017	Half Year ended 30/06/2016	Increase/ (Decrease)
5$'000	5$'000	%
(1)	( 36)	(97.22 )
776	475	63.37
709	1,291	(45.08 )
14	16	(12 .50)
(124)	840	(114.76)
3	nm
220
4	nm
	79	(100.00)

Profit/ (Loss) for the period is arrived after charging / (crediting) the following items:

Interest income Interest expense

Depreciation of property, plant & equipment Amortisation of land use rights

Foreign exchange (gain)/loss net

Loss on disposal of property, plant & equipment Property, plant & equipment written off Impairment loss on trade receivab les

Inventories written off

nm - not meaningful

Note:

In December 20 16, the Company changed its financial year end to 31 March and therefore the half year ended for current period is from April to September 2017. The half year for the corresponding period was for the period from 1January 2016 to 30 June 2016.

Half Year ended 30/09/2017	Half Year ended 30/06/2016	Increase/ (Decrease}
5$'000	S$'000	%
(5,726 )	(4,147)	38.08
39	(508)	( 107.68)
39	(508)	(107.68)
(5,687 }	(4,655 )	22 .17

l (b) A statement of comprehensive income (for the group ) together with a comp arative statement f or the corresp onding p eriod of the immediately preced ing fi nancial year.

(Loss} for the year

Net change in fa ir value of ava ilable-for- sa le financia l assets reclassified to profit or loss, at nil tax

Foreign currency trans lat ion differences - foreign operations, at nil tax

Other comprehensive ( loss}/ income for the period/ yea r

Total comprehensive ( loss)/ income for the year attribut able to owners of the Company

Group		Com	pany
As at 30 Sept 2017	As at 31 Mar 2017	As at 30 Sept 2017	As at 31Mar 2017
S$'000	S$'000	5$'000	5$'000
1,077	1,088	-
15,395	16,267	5	4
353	144
25,372	25 ,372
		12	12
16,837	17,511	25,377	25,376
31	31	-	5,142
10,890	11,930
4,785
11,078	8,060	208	204
49	49
2,238	1,544		8
24,286	21,614	4,993	5,354
41,123	39,125	30,370	30,730
39,949	39,949	39,949	39,949
(36,311)	(30,623 }	( 13,353)	( 12,113)
3,638	9,326	26,596	27,836
534	75	-
280	159	-
2,481	42	-
3,295	276
21,657	14,503	1,296	1,026
1,260	41	10	10
2,168	1,858
282
98	-
11,273		14,599	300
34,190	29,523	3,774	2,894
41,123	39,125	30,370	30,730

l{c)(i) A balance sheet (far the Issuer and Group), together with a comparat ive statement as at the end of the immediate pr eceding fin ancial year

ASSETS:

Non-Current Assets Land use rights

Property, plant a nd equipment Other receivables

Investme nt in subsidiaries Deferred tax assets

Current Assets: La nd use rights

Inventories, at cost

Amount due from subsidiaries Trade and other receivab les Fixed deposits with banks

Cash and cash equiva lents

Total assets

EQUITY AND LIABILITIES:

Capital and Reserve Sha re capita l Reserves

Non-current liabilities Borrowings

Deferred tax Deferred income

Current Liabilities

Trade and other payables Deferred income

Amount due to a subsidiary Amount due to directors

Provision for taxat ion Borrowings

l (c)(ii) Aggregate amount of the Graup's borrowings and debt securities.

As at 30 September 2017 As at 31 March 2017

Amount repayable in one year or less, or on demand

Amount repayab le after one year

Secured 5$'000

11,273

534

Unsecured 5$'000

Secured 5$'000

12,920

205

Unsecured 5$'000

Details of any collateral

A ll bank facilities are secured and guaranteed by the Company, except those of Malaysia subsid iaries which are secured and guaranteed by one or more of the fo llowing:-

(a ) a guarantee given by the Company;

(b) a guarantee given by a subsidiary;

(c ) first legal mortgage of the Group's leaseho ld properties;

(d) debenture over a subsidiary's present and futur e fixed a nd floating assets.

l {d) A cash flow statement (for the Group), together with a comparative statement for the corresponding period of the immediat ely preceding financial year .

Group
Half Year ended 30/09/2017	Half Year ended 30/06/2016
5$'000	5$'000
(5,531)	(4,082)
14	16
710	1,291
220
3	(51)
776	475
(1)	(36)
(3,809)	(2,387)
1,041	1,349
261	6
7,154	1,695
4,647	663
(776)	(475)
(201)	(66)
3,670	122
(72)	(202)
96
1	36
25	(166)
1,200
(48)
(637)	(920)
(1,561)	(470)
( 282)
(67)	(155)
{2,547)	(393)
1,148	(437)
(4,410)	(3,772 )
149	(22)
{ 3,113)	(4,231)

Cash Flows from operating act ivities Loss before taxation

Adjustments for:-

Amortisation of land use rights Depreciation of property, plant and equipment

Impairment loss on property, plant and equipment Property, plant & equipment written off

(G ain)/ loss on disposa l of property, plant & equipment Interest expense

Interest income

Operating profit/(loss) before working capital changes Changes in inventories

Changes in operating receivables Changes in operating payables

Net cash generated from operations Interest expense

Income tax paid

Net cash generated from operating activities

Cash Flows gene rated from/(used i n) i nvestin g act ivities Acquisition of property, plant and equipment

Proceed from disposa l of property, plant and equipment

Proceed from available-for-sales of financia l assets Interest received

Net cash generated from/(used in) investing activities

Cash Flows generated from/(used) in financing activities Proceeds from Issue of Shares

Repayment of Shares related expenditure Repayment of bank loans

Proceeds from bank loan

Repayment of trust receipts and bills payable Repayment to directors

Repayment of finance lease liabilities

Net cash generated from/(used in) financing activities

Net increase/(decrease) in cash & cash equiva lents

Cash & cash equivalents at beginning of the period

Net effect of exchange rate changes on balance of cash and cash equivalents at beginning of the year

Cash and cash equivalents at end of the period

(Co. Reg. No.: 200508277C)

Group
HallYear ended 30/09/ 2017	Hall Year ended 30/06/ 2016
5$'000	5$'000
2,239	1,573
49	361
(5,401)	(6,165)
(3,113)	(4,231)

financia l Statements and Dividend Announcement for the Hall Year ended 30 September 2017

Note 1:

Cash and cash eq uiva lents at end of the period Cash and bank balances

Fixed deposit Bank overdraft

Note:

In December 2016, the Company changed its financial year end to 31 March and therefore the half year ended for current period is from April to Septe mber 2017. The half year for the corresponding period was for the period from 1January 2016 to 30 June 2016.

1(d)(i) A statement (for the issuer and the Group) showing either (i) all cllanges in equity or (ii) changes in equity other tllan those arising from capitalisation isrnes

Attributable to equity holders of the Company
Exchange Translation Reserves	Statutory Common Reserve		Capital Reserve	Merger Reserve	Fair Value Reserve	Retained earnings	Share Capital	Total Equity
5$'000	5$'0	00	5$'000	5$'000	5$'000	5$'000	5$'000	5$'000
(5, 145)	68	838	(3,282 )	( 23,103)		39,949	9,325
(5,726)				(5,726)
				39			39
(5,106)	68		838	(3,282)	( 28,829 )	39,949	3,638
(4,629)	68		838	(3,282)	(11)	(13,922)	36,554	15,616
1,200						1,200
(48)						(48)
						(4,147)	(4,147)
							(508)	(508)
(5,137)	68		838	( 3,282)	(11)	(18,069)	37,706	12,113

amd distributions to sllareholders, together wltll a comparative statement for tile corresponding period of tile immediateluy preceding financial year.

Group 2017/2018

Balance as at 1Apr 2017 Iss ue of new shares Share expenses

Loss for the period

Other comprehensive income/(loss) Balance at 30 Sept 2017

Balance as at 1Jan 2016 Issue of new shares Share expenses

Loss for the period

Retained earnings	Share Capital	Total Equity
5$'000	5$'000	5$'000
(12,113 )	39,949	27,836
(1,240)		(1,240)
(13,353)	39,949	26,596
(9,328)	36,554	27,226
1,200	1,200
(48)	(48)
	(663)	(663)
(9,991)	37,706	27,715

Other comprehensive income/( loss) Balance at 30 Jun 2016

Company 2017/2018

Balance as at 1Apr 2017 Issue of new shares Sha re expenses

Loss for the period Balance at 30 Sept 2017

Balance as at 1Jan 2016 Issue of new shares Share expenses

Loss for the year

Balance at 30 Jun 2016