LPI Capital Bhd : Third Quarter Financial Statements For Year 2021

LPI CAPITAL BHD
		SUMMARY OF THE KEY FINANCIAL INFORMATION
		FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2021
			(the figures have not been audited)
		INDIVIDUAL PERIOD	CUMULATIVE PERIOD
		CURRENT PRECEDING YEAR	CURRENT	PRECEDING YEAR
		YEAR	CORRESPONDING	YEAR	CORRESPONDING
		QUARTER	QUARTER	TO DATE	PERIOD
		ENDED	ENDED	ENDED	ENDED
		30/09/2021	30/09/2020	30/09/2021	30/09/2020
		RM'000	RM'000	RM'000	RM'000
1	Revenue	427,914	395,755	1,288,693	1,199,208
2	Profit before tax	131,338	112,085	339,384	310,298
3	Profit for the period	105,383	86,178	271,612	241,496
4	Profit attributable
	to ordinary equity
	holders of the
	parent	105,383	86,178	271,612	241,496
5	Basic earnings per
	share (sen)	26.45	21.63	68.18	60.62
6	Proposed/ declared
	dividend per
	share (sen)	0.00	0.00	29.00	28.00
		AS AT END OF CURRENT	AS AT PRECEDING
		QUARTER	FINANCIAL YEAR END

7 Net assets per share attributable to

ordinary equity
holders of the
parent (RM)	5.1227	5.1873

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LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss for the Quarter Ended 30 September 2021 - Unaudited

	Individual Period	Cumulative Period
	Current	Preceding Year	Current	Preceding Year
	Year	Corresponding	Year	Corresponding
	Quarter	Quarter	To Date	Period
	Ended	Ended	Ended	Ended
	30.09.2021	30.09.2020	30.09.2021	30.09.2020
	RM'000	RM'000	RM'000	RM'000
Operating revenue	427,914	395,755	1,288,693	1,199,208
Gross written premiums	357,949	380,628	1,198,049	1,207,530
Change in unearned premiums provision	37,487	(3,719)	(371)	(81,476)
Gross earned premiums	395,436	376,909	1,197,678	1,126,054

Gross written premiums ceded to reinsurers Change in unearned premiums provision Premiums ceded to reinsurers

Net earned premiums

Investment income Realised gains Fair value gains Commission income

Net reversal of impairment loss on insurance receivables Net reversal of impairment loss on investments carried

at amortised cost Other operating income

Other income

Gross claims paid

Claims ceded to reinsurers Gross change in claims liabilities

Change in claims liabilities ceded to reinsurers

Net claims incurred

Fair value losses Commission expense Management expenses

Net impairment loss on insurance receivables Other operating expense

Other expenses

(110,923)	(110,737)	(427,443)	(418,544)
(28,662)	(11,950)	(14,650)	35,259
(139,585)	(122,687)	(442,093)	(383,285)
255,851	254,222	755,585	742,769
32,478	18,846	91,015	73,154
3	-	3	1
-	6,009	504	10,651
25,761	23,061	85,244	86,591
323	495	-	-
-	1	-	-
1,245	2,181	2,096	4,368
59,810	50,593	178,862	174,765
(112,180)	(141,745)	(405,864)	(377,894)
37,337	43,577	155,535	115,669
(1,768)	(163,885)	(74,065)	(217,081)
(9,364)	161,571	51,427	154,506
(85,975)	(100,482)	(272,967)	(324,800)
(5,288)	(300)	(35,181)	(1,414)
(43,494)	(43,464)	(129,735)	(129,457)
(49,871)	(48,589)	(157,507)	(151,805)
-	-	(619)	(969)
-	-	(272)	-
(98,653)	(92,353)	(323,314)	(283,645)

Operating profit	131,033	111,980	338,166	309,089
Finance cost	(384)	(451)	(1,229)	(1,387)
Share of profit after tax of equity accounted
associated company	689	556	2,447	2,596
Profit before tax	131,338	112,085	339,384	310,298
Tax expense	(25,955)	(25,907)	(67,772)	(68,802)
Profit for the period	105,383	86,178	271,612	241,496
Profit attributable to:
Owners of the Company	105,383	86,178	271,612	241,496
Earnings per ordinary share (sen)
- Basic	26.45	21.63	68.18	60.62
- Diluted	N/A	N/A	N/A	N/A

N/A - Not Applicable.

Note : The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

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LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Quarter Ended 30 September 2021 - Unaudited

	Individual Period	Cumulative Period
	Current	Preceding Year	Current	Preceding Year
	Year	Corresponding	Year	Corresponding
	Quarter	Quarter	To Date	Period
	Ended	Ended	Ended	Ended
	30.09.2021	30.09.2020	30.09.2021	30.09.2020
	RM'000	RM'000	RM'000	RM'000
Profit for the period	105,383	86,178	271,612	241,496
Other comprehensive income
Items that are or may be reclassified subsequently
to profit or loss
Foreign currency translation differences for foreign operation	611	(2,192)	3,191	(752)
Items that will not be reclassified to profit or loss
Net losses on investments in equity instruments designated at
fair value through other comprehensive income	(8,823)	(35,209)	(11,076)	(164,755)
Income tax relating to these items	63	196	110	1,017
Total other comprehensive loss for the period, net of tax	(8,149)	(37,205)	(7,775)	(164,490)
Total comprehensive income for the period attributable to
owners of the Company	97,234	48,973	263,837	77,006

Note : The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

3

LPI CAPITAL BHD

Condensed Consolidated Statement of Financial Position As At 30 September 2021 - Unaudited

			As At		As At
	30.09.2021	31.12.2020
			RM'000		RM'000
Assets
Plant and equipment	5,252	6,423
Right-of-use assets	37,211	42,227
Investment properties	28,024	27,572
Intangible assets	7,695	8,950
Investment in an associated company	38,983	35,321
Other investments	2,080,694	1,851,962
Fair value through other comprehensive income		896,598		907,613
Fair value through profit or loss		1,125,967		891,405
Amortised cost		58,129		52,944
Deferred tax assets	4,738	-
Reinsurance assets	1,057,566	1,020,006
Loans and receivables, excluding
insurance receivables	980,945	1,169,054
Insurance receivables	201,517	163,647
Deferred acquisition costs	41,486	43,756
Cash and cash equivalents	120,005	150,788
Total assets		4,604,116		4,519,706
Equity
Share capital	398,383	398,383
Reserves	1,650,102	1,677,085
Total equity	2,048,485	2,075,468
Liabilities
Insurance contract liabilities	2,245,018	2,168,123
Deferred tax liabilities	-	3,905
Lease liabilities	38,903	43,571
Insurance payables	100,998	100,457
Other payables	126,892	103,302
Current tax payables		43,820		24,880
Total liabilities	2,555,631	2,444,238
Total equity and liabilities
	4,604,116		4,519,706

Note : The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

4

LPI CAPITAL BHD

Condensed Consolidated Statement of Changes in Equity for the Period Ended 30 September 2021 - Unaudited

		Non-distributable		Distributable
		Foreign
		currency	Fair
	Share	translation	value	Retained
	capital	reserve	reserve	earnings	Total
	RM'000	RM'000	RM'000	RM'000	RM'000
9 Months Period Ended 30 September 2021
At 1 January 2021	398,383	22,753	748,242	906,090	2,075,468
Foreign currency translation differences for foreign operation	-	3,191	-	-	3,191
Net losses on investments in equity instruments designated
at fair value through other comprehensive income	-	-	(10,966)	-	(10,966)
Total other comprehensive income/(loss) for the period	-	3,191	(10,966)	-	(7,775)
Profit for the period	-	-	-	271,612	271,612
Total comprehensive income/(loss) for the period	-	3,191	(10,966)	271,612	263,837
Distributions to owners of the Company
Dividends to owners of the Company	-	-	-	(290,820)	(290,820)
Total transaction with owners of the Company	-	-	-	(290,820)	(290,820)
At 30 September 2021	398,383	25,944	737,276	886,882	2,048,485

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