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.