GENTING MALAYSIA Quarterly report on consolidated results for the three months ended 31 March 2017. The figures have not been audited.
CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2017UNAUDITED INDIVIDUAL QUARTER | UNAUDITED CUMULATIVE PERIOD | ||||
First quarter ended 31 March | Three months ended 31 March | ||||
2017 | 2016 | 2017 | 2016 | ||
RM '000 | RM'0 00 | RM '000 | RM'0 00 | ||
Revenue | 2,223,818 | 2,214,354 | 2,223,818 | 2,214,354 | |
Cost of sales | (1,684,101) | (1,615,067) | (1,684,101) | (1,615,067) | |
Gross profit | 539,717 | 599,287 | 539,717 | 599,287 | |
Other income | 130,523 | 96,053 | 130,523 | 96,053 | |
Other expenses | (306,828) | (418,928) | (306,828) | (418,928) | |
Profit from operations | 363,412 | 276,412 | 363,412 | 276,412 | |
Finance costs | (19,086) | (14,296) | (19,086) | (14,296) | |
Profit before taxation | 344,326 | 262,116 | 344,326 | 262,116 | |
Taxation | (49,440) | (117,985) | (49,440) | (117,985) | |
Profit for the financial period | 294,886 | 144,131 | 294,886 | 144,131 | |
Profit attributable to: | |||||
Equity holders of the Company | 323,515 | 161,567 | 323,515 | 161,567 | |
Non-controlling interests | (28,629) | (17,436) | (28,629) | (17,436) | |
294,886 | 144,131 | 294,886 | 144,131 | ||
Earnings per share attributable to equity holders of the Company: | |||||
Basic earnings per share (sen) | 5.72 | 2.86 | 5.72 | 2.86 | |
Diluted earnings per share (sen) | 5.71 | 2.85 | 5.71 | 2.85 | |
(The Condensed Consolidated Income Statement should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
GENTING MALAYSIA BERHAD CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED 31 MARCH 2017 | |||||
UNAUDITED INDIVIDUAL QUARTER | UNAUDITED CUMULATIVE PERIOD | ||||
First quarter ended 31 March | Three months ended 31 March | ||||
2017 | 2016 | 2017 | 2016 | ||
RM '000 | RM'0 00 | RM '000 | RM'0 00 | ||
Profit for the financial period | 294,886 | 144,131 | 294,886 | 144,131 | |
Other comprehensive loss | |||||
Items that will be reclassified subsequently to profit or loss: | |||||
Available-for-sale financial assets | |||||
- Fair value loss | - | (27,920) | - | (27,920) | |
Cash flow hedges | |||||
- Fair value loss | (2,125) | (1,188) | (2,125) | (1,188) | |
Foreign currency exchange differences | (69,189) | (1,226,080) | (69,189) | (1,226,080) | |
Other comprehensive loss, net of tax | (71,314) | (1,255,188) | (71,314) | (1,255,188) | |
Total comprehensive income/(loss) for the financial period | 223,572 | (1,111,057) | 223,572 | (1,111,057) | |
Total comprehensive income/(loss) attributable to: | |||||
Equity holders of the Company | 250,809 | (1,092,228) | 250,809 | (1,092,228) | |
Non-controlling interests | (27,237) | (18,829) | (27,237) | (18,829) | |
223,572 | (1,111,057) | 223,572 | (1,111,057) | ||
(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
GENTING MALAYSIA BERHAD CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2017 | |||
UNAUDITED | |||
As at 31.03.2017 | As at 31.12.2016 | ||
RM'000 | RM'000 | ||
ASSETS Non-current assets | |||
Property, plant and equipment | 12,534,925 | 12,158,625 | |
Land held for property development | 184,672 | 184,672 | |
Investment properties | 2,302,984 | 2,317,873 | |
Intangible assets | 4,989,125 | 5,036,343 | |
Available-for-sale financial assets | 101,744 | 102,892 | |
Other non-current assets | 1,951,927 | 1,842,383 | |
Deferred tax assets | 101,473 | 122,415 | |
22,166,850 | 21,765,203 | ||
Current assets | |||
Inventories | 106,452 | 98,221 | |
Trade and other receivables | 536,421 | 566,850 | |
Amounts due from other related companies | 8,817 | 9,493 | |
Financial asset at fair value through profit or loss | 10,456 | 10,799 | |
Available-for-sale financial assets | 470,000 | 550,000 | |
Derivative financial instruments | - | 3,064 | |
Restricted cash | 45,816 | 35,053 | |
Cash and cash equivalents | 6,672,735 | 4,855,700 | |
7,850,697 | 6,129,180 | ||
TOTAL ASSETS | 30,017,547 | 27,894,383 | |
EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the Company | |||
Share capital | 593,804 | 593,804 | |
Reserves | 20,053,263 | 20,228,241 | |
Treasury shares | (911,258) | (911,258) | |
Shares held for employee share scheme | (21,678) | (45,769) | |
19,714,131 | 19,865,018 | ||
Non-controlling interests | (146,890) | (119,653) | |
TOTAL EQUITY | 19,567,241 | 19,745,365 | |
Non-current liabilities | |||
Other long term liabilities | 221,920 | 220,337 | |
Long term borrowings | 5,788,201 | 3,223,146 | |
Deferred tax liabilities | 668,622 | 673,771 | |
6,678,743 | 4,117,254 | ||
Current liabilities | |||
Trade and other payables | 2,303,055 | 2,738,495 | |
Amount due to holding company | 19,084 | 19,886 | |
Amounts due to other related companies | 111,385 | 162,031 | |
Short term borrowings | 1,318,656 | 1,103,426 | |
Derivative financial instruments | 3,096 | 4,006 | |
Taxation | 16,287 | 3,920 | |
3,771,563 | 4,031,764 | ||
TOTAL LIABILITIES | 10,450,306 | 8,149,018 | |
TOTAL EQUITY AND LIABILITIES | 30,017,547 | 27,894,383 | |
NET ASSETS PER SHARE (RM) | 3.48 | 3.51 | |
(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.) | |||
Attributable to equity holders of the Company
Cash Flow | Shares held for | Non- | |||||||
Share | Share | Hedges | Other | Treasury | Employee Share | Retained | controlling | ||
Capital | Premium | Reserve | Reserves | Shares | Scheme | Earnings | Total | Interests | Total Equity |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 |
593,804 1,170,620 (739) 2,250,313 (911,258) (45,769) | 16,808,047 | 19,865,018 | (119,653) | 19,745,365 | |||||
- | - | - | - | - | - | 323,515 | 323,515 | (28,629) | 294,886 |
- | - | (2,125) | (70,581) | - | - | - | (72,706) | 1,392 | (71,314) |
- | - | (2,125) | (70,581) | - | - | 323,515 | 250,809 | (27,237) | 223,572 |
- | - | - | 11,280 | - | - | - | 11,280 | - | 11,280 |
- | - | - | (24,091) | - | 24,091 | - | - | - | - |
- | - | - | - | - | - | (412,976) | (412,976) | - | (412,976) |
- | - | - | (12,811) | - | 24,091 | (412,976) | (401,696) | - | (401,696) |
593,804 | 1,170,620 | (2,864) | 2,166,921 | (911,258) | (21,678) | 16,718,586 | 19,714,131 | (146,890) | 19,567,241 |
The new Companies Act 2016 ("the Act") came into effect from 31 January 2017 and abolished the concept of authorised share capital and par value of share capital. Consequently, any amount standing to the credit of a company's share premium account shall become part of the company's share capital pursuant to Section 618(2) of the Act. Under the transitional provision in Section 618(3) of the Act, a company may within twenty-four months upon the commencement of the Act, use the amount standing to the credit of its share premium account for purposes as set out in that section. The balance of RM593.8 million in share capital represents 5,938.0 million ordinary shares.
(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2016.)
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