UNAUDITED FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT FOR THE HALF YEAR ENDED 30 JUNE 2022
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (" SPONSOR "). This announcement has not been examined or approved by Singapore Exchange Securities Trading Limited (" SGX-ST ") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.
The contact person for the Sponsor is Ms. Lee Khai Yinn (Telephone: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
A. CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Group | ||||
Unaudited | Unaudited | Change | Change | |
Notes | 1H2022 | 1H2021 | +ve/(-ve) | +ve/(-ve) |
S$'000 | S$'000 | S$'000 | % |
Revenue
Cost of sales
Gross profit
Other operating income
Distribution and selling expenses Administrative expenses (Impairment losses)/reversal of
impairment losses on trade and other receivables and contract assets
Other operating expenses
Share of results of associate
Profit/(loss) from operations
Finance expenses
Interest income
Loss before tax
Tax expense
Loss for the period
Other comprehensive income Item that may be reclassified
subsequently to profit or loss Foreign currency translation
Total comprehensive loss for the period
Loss for the period attributable to :-
Owners of the Company
Non-controlling interests
4 | 48,196 | 37,330 | 10,866 | 29.1 |
(38,956) | (30,678) | (8,278) | 27.0 | |
9,240 | 6,652 | 2,588 | 38.9 | |
1,016 | 1,491 | (475) | (31.9) | |
(2,978) | (2,655) | (323) | 12.2 | |
(6,014) | (6,199) | 185 | (3.0) | |
(658) | 118 | (776) | n.m. | |
(508) | (82) | (426) | n.m. | |
(38) | - | (38) | n.m. | |
(10,196) | (8,818) | (1,378) | 15.6 | |
60 | (675) | 735 | n.m. | |
(702) | (593) | (109) | 18.4 | |
57 | 127 | (70) | (55.1) | |
6 | (585) | (1,141) | 556 | (48.7) |
7 | (66) | (16) | (50) | n.m. |
(651) | (1,157) | 506 | (43.7) |
(107) | 286 | (393) | n.m. |
(758) | (871) | 113 | (13.0) |
(454) | (1,250) | 796 | (63.7) |
(197) | 93 | (290) | n.m. |
(651) | (1,157) | 506 | (43.7) |
Total comprehensive (loss)/income for the period attributable to :-
Owners of the Company
Non-controlling interests
(518) | (1,017) | 499 | (49.1) |
(240) | 146 | (386) | n.m. |
(758) | (871) | 113 | (13.0) |
Loss per share based on loss for the period | ||
attributable to the owners of the Company : | ||
Basic and diluted (cents) | (0.41) | (1.12) |
There were no potential dilutive ordinary shares existing during the respective financial periods. n.m. : not meaningful
1H: 6 months ended 30 June
B. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
Group | Company | |||
Unaudited | Audited | Unaudited | Audited | |
Notes | 30 Jun 2022 | 31 Dec 2021 | 30 Jun 2022 | 31 Dec 2021 |
S$'000 | S$'000 | S$'000 | S$'000 |
Non-current assets
Fixed assets Investment property Intangible assets Right-of-use assets
Right-of-useassets-land use rights Investment in subsidiaries Investment in associates Investment securities
Deferred tax assets
Total non-current assets
Current assets
Inventories Investment securities Trade receivables Contract assets Other receivables Deposits Prepayments
Advance payment to suppliers Amounts due from subsidiaries (trade) Amounts due from subsidiaries (non-trade) Amounts due from associates (trade) Amounts due from associates (non-trade) Tax recoverable
Fixed assets held for sale Fixed deposits
Cash and bank balances
Total current assets
Current liabilities
Trade payables Contract liabilities
Trust receipts and bills payable (secured)
Other payables
Accruals and other liabilities Dividend payable
Amounts due to subsidiaries (trade) Amounts due to subsidiaries (non-trade) Amounts due to associates (non-trade) Provision for income tax
Lease liabilties (current) Term loans (current)
Total current liabilities
10
9
9
11
11
27,661 | 28,591 | 22,060 | 22,574 |
52 | 53 | - | - |
188 | 189 | - | - |
14,051 | 13,296 | 13,032 | 12,260 |
1,765 | 1,802 | - | - |
- | - | 16,370 | 16,370 |
8,424 | 8,454 | 7,281 | 7,281 |
10,086 | 9,853 | - | - |
630 | 644 | - | - |
62,857 | 62,882 | 58,743 | 58,485 |
18,968 | 19,363 | 7,658 | 9,391 |
2,356 | 4,364 | 2,356 | 4,364 |
18,085 | 16,240 | 3,502 | 3,386 |
8,841 | 4,867 | - | 303 |
1,363 | 1,692 | 724 | 735 |
456 | 337 | 55 | 55 |
286 | 310 | 67 | 77 |
3,855 | 4,102 | 1,769 | 2,369 |
- | - | 3,037 | 756 |
- | - | 5,129 | 4,498 |
879 | 815 | 191 | - |
149 | 152 | - | - |
197 | 212 | - | - |
- | 890 | - | - |
234 | 234 | 209 | 209 |
4,257 | 6,781 | 554 | 814 |
59,926 | 60,359 | 25,251 | 26,957 |
12,714 | 9,213 | 2,573 | 2,503 |
3,010 | 3,647 | 430 | 764 |
12,223 | 11,901 | 7,811 | 7,581 |
562 | 883 | 295 | 342 |
8,335 | 9,312 | 2,037 | 3,533 |
26 | 25 | 25 | 25 |
- | - | 3,607 | 2,715 |
- | - | 928 | 1,133 |
162 | 158 | - | - |
622 | 626 | - | - |
912 | 692 | 426 | 295 |
5,082 | 5,171 | 3,207 | 3,214 |
43,648 | 41,628 | 21,339 | 22,105 |
Net current assets | 16,278 | 18,731 | 3,912 | 4,852 |
B. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (CONT'D) | |||||
Group | Company | ||||
Unaudited | Audited | Unaudited | Audited | ||
Notes | 30 Jun 2022 | 31 Dec 2021 | 30 Jun 2022 | 31 Dec 2021 | |
S$'000 | S$'000 | S$'000 | S$'000 | ||
Non-current liabilities | |||||
Deferred tax liabilities | 2,684 | 2,627 | - | - | |
Amounts due to subsidiaries (non-trade) | - | - | 696 | 904 | |
Lease liabilities (non-current) | 13,614 | 13,022 | 13,278 | 12,562 | |
Term loans (non-current) | 11 | 16,411 | 18,579 | 15,377 | 16,459 |
Total non-current liabilities | 32,709 | 34,228 | 29,351 | 29,925 | |
Net assets | 46,426 | 47,385 | 33,304 | 33,412 | |
Equity attributable to owners of the Company | |||||
Share capital | 12 | 19,680 | 19,680 | 19,680 | 19,680 |
Retained earnings | 19,189 | 19,844 | 13,302 | 13,410 | |
Fair value adjustment reserve | 7,827 | 7,641 | - | - | |
Capital reserve | 230 | 230 | 322 | 322 | |
Translation reserve | (2,776) | (2,526) | - | - | |
44,150 | 44,869 | 33,304 | 33,412 | ||
Non-controlling interests | 2,276 | 2,516 | - | - | |
Total equity | 46,426 | 47,385 | 33,304 | 33,412 |
C. CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
Notes | |
Cash flows from operating activities | |
Loss before tax | E6 |
Adjustments: | |
Impairment loss/(reversal of impairment loss) | E6 |
on trade and other receivables and contract assets | |
(Written back)/allowance for obsolete and slow- | E6 |
moving inventories, net | |
Fixed assets written off | |
Gain on disposal of fixed assets, net | E6 |
Gain on disposal of fixed assets held for sale, net | E6 |
Depreciation of fixed assets | E6 |
Depreciation of right-of-use assets | E6 |
Net fair value loss on held for trading investment securities | E6 |
Depreciation of right-of-use assets - land use rights | E6 |
Amortisation of intangible assets | E6 |
Finance expenses | E6 |
Interest income | E6 |
Share of results of associate | E6 |
Translation difference |
Operating cash flows before working capital changes (Increase)/decrease in:
Inventories
Trade receivables Contract assets Other receivables
Deposits, prepayments and advance payment to suppliers Amounts due from associates (trade)
Amounts due from associates (non-trade) Increase/(decrease) in:
Trade payables Contract liabilities Other payables
Accruals and other liabilities
Cash flows generated from operations
Interest paid
Income taxes paid
Income taxes refunded
Interest income
Net cash flows generated from operating activities
Group
1H20221H2021
Unaudited Unaudited
S$'000S$'000
- (1,141)
658(118)
- 131
2 | 6 |
(1) | (28) |
(11) | - |
914 | 1,036 |
441 | 430 |
246 | 23 |
23 | 23 |
- | 45 |
702 | 593 |
- (127)
38 | - |
(60) | 6 |
2,116 | 879 |
588(2,327)
(2,408)(2,334)
(4,068) | 369 |
89 | 262 |
- (167)
- (350)
- -
15,79311,689
- (130)
- 496
- 1,280
10,2759,667
- (320)
- (281)
180 | - |
57 | 127 |
9,876 | 9,193 |
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Disclaimer
Far East Group Ltd. published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 07:19:01 UTC.