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. (1,141)

658(118)

  1. 131

2

6

(1)

(28)

(11)

-

914

1,036

441

430

246

23

23

23

-

45

702

593

  1. (127)

38

-

(60)

6

2,116

879

588(2,327)

(2,408)(2,334)

(4,068)

369

89

262

  1. (167)
  1. (350)
  1. -

15,79311,689

  1. (130)
  1. 496
  1. 1,280

10,2759,667

  1. (320)
  1. (281)

180

-

57

127

9,876

9,193

Attachments

  • Original Link
  • Original Document
  • Permalink

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.