HONG LAI HUAT GROUP LIMITED
(Incorporated in the Republic of Singapore)
(Co. Reg. No. 199905292D)
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED
30 JUNE 2021 ("1H FY2021")
CONTENTS | |
Condensed interim consolidated statement of comprehensive income | 1 |
Condensed interim statement of financial position | 2 |
Condensed interim consolidated statement of changes in equity | 3 |
Condensed interim consolidated statement of cash flows | 5 |
Notes to the condensed interim financial statements | 6 |
Other information required by Listing Rule Appendix 7.2 | 15 |
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the financial period ended 30 June 2021
Group | ||||||||
Note | 6 months ended 30 June | Change | ||||||
FY 2021 | FY 2020 | |||||||
(Unaudited) | (Unaudited) | |||||||
S$'000 | S$'000 | % | ||||||
Revenue | 3 | 12,102 | 5,524 | 119% | ||||
Cost of sales | (6,939) | (2,479) | 180% | |||||
Gross profit | 5,163 | 3,045 | 70% | |||||
Other income | 1,366 | 2,084 | -34% | |||||
Distribution and selling expenses | (142) | (121) | 17% | |||||
Administrative expenses | (4,222) | (5,584) | -24% | |||||
Other expenses | (3,357) | (61) | N.M. | |||||
Share of profit (loss) of joint venture | 82 | (465) | -118% | |||||
Finance costs | (155) | (50) | 210% | |||||
Loss before income tax | 4 | (1,265) | (1,152) | 10% | ||||
Income tax expense | 5 | (37) | (188) | -80% | ||||
Loss for the period | (1,302) | (1,340) | -3% | |||||
Other comprehensive income: | ||||||||
Items that may be reclassified subsequently to profit or loss | ||||||||
Exchange differences on translation of foreign operations | 1,520 | 2,572 | ||||||
Other comprehensive income for the period, net of tax | 1,520 | 2,572 | ||||||
Total comprehensive income for the period | 218 | 1,232 | ||||||
Loss attributable to: | ||||||||
Owners of the company | (1,302) | (1,340) | ||||||
Non-controlling interests | - | - | ||||||
(1,302) | (1,340) | |||||||
Total comprehensive income attributable to: | ||||||||
Owners of the company | 218 | 1,232 | ||||||
Non-controlling interests | - | - | ||||||
218 | 1,232 |
Note:
N.M. - Not meaningful
The accompanying notes form an integral part of these financial statements
Page 1 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION As at 30 June 2021
Note | |
Current assets | |
Cash and bank balances | |
Trade receivables | |
Other receivables and deposits | |
Prepayments | |
Amounts due from subsidiaries | |
Financial assets at fair value through profit or loss | |
Inventories | |
Biological assets | 6 |
Completed development properties held for sale | 7 |
Development properties | 7 |
Disposal group assets classified as held for sale | 8 |
Total current assets | |
Non-current assets | |
Other receivables and deposits | |
Property, plant and equipment | 9 |
Right-of-use assets | 10 |
Investment properties | 11 |
Joint venture | |
Investment in subsidiaries | |
Financial assets at fair value through profit or loss | |
Total non-current assets | |
Total assets | |
Liabilities and equity | |
Current liabilities | |
Trade payables | |
Other payables and accruals | |
Amounts due to subsidiaries | |
Income tax payable | |
Bank loans | 12 |
Lease liabilities | 12 |
Loan from controlling shareholder | |
Total current liabilities | |
Non-current liabilities | |
Bank loans | 12 |
Lease liabilities | 12 |
Loan from controlling shareholder | |
Deferred tax liabilities | |
Total non-current liabilities | |
Capital, reserves and non-controlling interests | |
Share capital | 13 |
Retained earnings |
Captial reserve
Asset revaluation reserve
Foreign currency translation reserve
Total equity
Total liabilities and equity
Group | Company | ||||||
30/6/2021 | 31/12/2020 | 30/6/2021 | 31/12/2020 | ||||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | ||||
S$'000 | S$'000 | S$'000 | S$'000 | ||||
16,234 | 9,535 | 4,193 | 680 | ||||
14,227 | 6,136 | - | - | ||||
1,682 | 1,391 | 53 | 38 | ||||
1,163 | 26,081 | 58 | 99 | ||||
- | - | 54,429 | 32,836 | ||||
100 | 100 | - | - | ||||
244 | 156 | - | - | ||||
5,187 | 5,515 | - | - | ||||
18,034 | 23,653 | - | - | ||||
30,189 | - | - | - | ||||
87,060 | 72,567 | 58,733 | 33,653 | ||||
4,800 | - | - | - | ||||
91,860 | 72,567 | 58,733 | 33,653 | ||||
40 | 40 | - | - | ||||
11,140 | 10,711 | 48 | 70 | ||||
64,849 | 64,674 | 85 | 148 | ||||
- | 8,000 | - | - | ||||
6,599 | 6,405 | - | - | ||||
- | - | 100,129 | 100,129 | ||||
240 | 240 | 240 | 240 | ||||
82,868 | 90,070 | 100,502 | 100,587 | ||||
174,728 | 162,637 | 159,235 | 134,240 | ||||
4,055 | 2,472 | - | - | ||||
8,383 | 8,222 | 226 | 378 | ||||
- | - | 7,683 | 8,286 | ||||
- | 27 | - | - | ||||
1,843 | 3,179 | 1,843 | 1,828 | ||||
92 | 156 | 28 | 72 | ||||
- | 147 | - | - | ||||
14,373 | 14,203 | 9,780 | 10,564 | ||||
4,111 | 4,818 | 4,111 | 4,818 | ||||
724 | 779 | 30 | 43 | ||||
- | 14,177 | - | - | ||||
11,211 | 11,020 | 17 | 17 | ||||
16,046 | 30,794 | 4,158 | 4,878 | ||||
121,053 | 94,602 | 121,053 | 94,602 | ||||
25,894 | 27,196 | 24,703 | 24,655 | ||||
414 | 414 | (459) | (459) | ||||
2,775 | 2,775 | - | - | ||||
(5,827) | (7,347) | - | - | ||||
144,309 | 117,640 | 145,297 | 118,798 | ||||
174,728 | 162,637 | 159,235 | 134,240 | ||||
The accompanying notes form an integral part of these financial statements
Page 2 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the financial period ended 30 June 2021
Attributable to owners of the company | ||||||
Asset | Currency | |||||
Share | Retained | Capital | revaluation | translation | Total | |
Note | capital | earnings | reserve | reserve | reserve | equity |
S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 |
Group (Unaudited) | |||||||||
At 1 January 2020 | 94,602 | 35,727 | 414 | 2,775 | (5,430) | 128,088 | |||
Total comprehensive (loss) income for the period: | |||||||||
Loss for the period | - | (1,340) | - | - | - | (1,340) | |||
Other comprehensive income for the period | - | - | - | - | 2,572 | 2,572 | |||
Total | - | (1,340) | - | - | 2,572 | 1,232 | |||
Balance at 30 June 2020 | 94,602 | 34,387 | 414 | 2,775 | (2,858) | 129,320 | |||
At 1 January 2021 | 94,602 | 27,196 | 414 | 2,775 | (7,347) | 117,640 | |||
Total comprehensive (loss) income for the period: | |||||||||
Loss for the period | - | (1,302) | - | - | - | (1,302) | |||
Other comprehensive income for the period | - | - | - | - | 1,520 | 1,520 | |||
Total | - | (1,302) | - | - | 1,520 | 218 | |||
Transactions with owners, recognised directly in equity: | |||||||||
Rights issue | 13 | 26,929 | - | - | - | - | 26,929 | ||
Rights issue expenses | 13 | (478) | - | - | - | - | (478) | ||
Total | 26,451 | - | - | - | - | 26,451 | |||
Balance at 30 June 2021 | 121,053 | 25,894 | 414 | 2,775 | (5,827) | 144,309 | |||
The accompanying notes form an integral part of these financial statements
Page 3 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (cont'd)
For the financial period ended 30 June 2021
Share | Retained | Capital | Total | |
Note | capital | earnings | reserves | equity |
S$'000 | S$'000 | S$'000 | S$'000 |
Company (Unaudited) | |||||
At 1 January 2020 | 94,602 | 1,434 | (459) | 95,577 | |
Restatements | - | 22,969 | - | 22,969 | |
At 1 January 2020 (Restated) | 94,602 | 24,403 | (459) | 118,546 | |
Total comprehensive income for the period: | |||||
Profit for the period | - | 51 | - | 51 | |
Balance at 30 June 2020 | |||||
94,602 | 24,454 | (459) | 118,597 | ||
At 1 January 2021 | 94,602 | 24,655 | (459) | 118,798 | |
Total comprehensive income for the period: | |||||
Profit for the period | - | 48 | - | 48 | |
Transactions with owners, recognised directly in equity: | |||||
Rights issue | 13 | 26,929 | - | - | 26,929 |
Rights issue expenses | 13 | (478) | - | - | (478) |
Total | 26,451 | - | - | 26,451 | |
Balance at 30 June 2021 | |||||
121,053 | 24,703 | (459) | 145,297 |
The accompanying notes form an integral part of these financial statements
Page 4 of 21
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Hong Lai Huat Group Limited published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 10:51:03 UTC.