Bursa Announcement
First Quarter Ended 30 June 2022
MNRB HOLDINGS BERHAD
(197201001795 (13487-A))
INTERIM FINANCIAL STATEMENTS (The figures have not been audited)
CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2022
GROUP | ||||
Individual period | Cumulative year | |||
3 months ended | 3 months ended | 3 months ended | 3 months ended | |
30 June 2022 | 30 June 2021 | 30 June 2022 | 30 June 2021 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Gross earned premiums/contributions | 764,092 | 639,287 | 764,092 | 639,287 |
Premiums/contributions ceded to | ||||
reinsurers and retakaful operators | (92,678) | (70,108) | (92,678) | (70,108) |
Net earned premiums/contributions | 671,414 | 569,179 | 671,414 | 569,179 |
Investment income | 65,191 | 66,310 | 65,191 | 65,524 |
Realised (loss)/gains | (1,210) | 3,394 | (1,210) | 3,394 |
Fair value (loss)/gains | (144,864) | 19,821 | (144,864) | 19,821 |
Fee and commission income | 14,107 | 9,198 | 14,107 | 9,198 |
Other operating revenue | 18,975 | 4,437 | 18,975 | 5,223 |
Other revenue | (47,801) | 103,160 | (47,801) | 103,160 |
Gross claims and benefits paid | (406,602) | (267,714) | (406,602) | (267,714) |
Claims ceded to reinsurers/retakaful operators | 84,910 | 37,082 | 84,910 | 37,082 |
Gross change in contract liabilities | (50,136) | (195,470) | (50,136) | (195,470) |
Change in contract liabilities ceded to | ||||
reinsurers/retakaful operators | (13,532) | 51,030 | (13,532) | 51,030 |
Net claims and benefits | (385,360) | (375,072) | (385,360) | (375,072) |
Fee and commission expense | (140,286) | (141,402) | (140,286) | (141,402) |
Management expenses | (82,760) | (59,091) | (82,760) | (59,091) |
Finance cost | (4,362) | (4,187) | (4,362) | (4,187) |
Other operating expenses | (2,413) | (861) | (2,413) | (861) |
Change in expenses liabilities | (373) | 5,099 | (373) | 5,099 |
Tax borne by participants | 9,671 | (7,052) | 9,671 | (7,052) |
Other expenses | (220,523) | (207,494) | (220,523) | (207,494) |
Share of results of associates | (10,770) | 1,849 | (10,770) | 1,849 |
Operating profits before surplus | ||||
attributable to takaful participants, | ||||
zakat and taxation | 6,961 | 91,622 | 6,961 | 91,622 |
Surplus attributable to takaful participants | (15,256) | (40,858) | (15,256) | (40,858) |
Operating (loss)/profits before zakat and taxation | (8,295) | 50,764 | (8,295) | 50,764 |
Zakat | (257) | (373) | (257) | (373) |
Taxation | (4,726) | (3,813) | (4,726) | (3,813) |
Net (loss)/profits for the period attributable | ||||
to equity holders of the Company | (13,278) | 46,578 | (13,278) | 46,578 |
Basic (loss)/earnings per share attributable | ||||
to equity holders of the Company (sen): | (1.7) | 5.9 | (1.7) | 5.9 |
The Condensed Financial Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 March 2022
MNRB HOLDINGS BERHAD
(197201001795 (13487-A))
INTERIM FINANCIAL STATEMENTS (The figures have not been audited)
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2022
GROUP | ||||
Individual period | Cumulative year | |||
3 months ended | 3 months ended | 3 months ended | 3 months ended | |
30 June 2022 | 30 June 2021 | 30 June 2022 | 30 June 2021 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Net (loss)/profits for the period | (13,278) | 46,578 | (13,278) | 46,578 |
Other comprehensive income/(loss): | ||||
Other comprehensive income/(loss) | ||||
to be reclassified to income statement | ||||
in subsequent periods: | ||||
Effects of post acquisition foreign exchange | ||||
translation reserve on investment in associate | 3,596 | (5,028) | 3,596 | (5,028) |
Effects of foreign exchange translation reserve | ||||
on investment in subsidiary | 589 | (3) | 589 | (3) |
Net (loss)/gain on financial assets at fair value of | ||||
comprehensive income ("FVOCI"): | ||||
Net (losses)/gain on fair value changes | (36,743) | 10,328 | (36,743) | 10,328 |
Realised losses transferred to | ||||
income statement | (208) | - | (208) | - |
Deferred tax relating to net loss | ||||
on financial assets at FVOCI | 2,845 | 1,819 | 2,845 | 1,819 |
Other comprehensive income/(loss) | 4,497 | (1,242) | 4,497 | (1,242) |
Other comprehensive (loss)/income | ||||
not to be reclassified to income statement | ||||
in subsequent years: | ||||
Net (loss)/gain on fair value changes | (186) | 268 | (186) | 268 |
Deferred tax on fair value changes | - | - | - | - |
Revaluation surplus of land and buildings | 538 | 25 | 538 | 25 |
Deferred tax relating to revaluation of land | ||||
and buildings | (43) | (2) | (43) | (2) |
Total comprehensive (loss)/income | ||||
for the period | (38,393) | 52,743 | (38,393) | 52,743 |
The Condensed Financial Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 March 2022
MNRB HOLDINGS BERHAD
(197201001795 (13487-A))
INTERIM FINANCIAL STATEMENTS (The figures have not been audited)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2022
GROUP | ||
Unaudited | Audited | |
30 June 2022 | 31 March 2022 | |
RM'000 | RM'000 | |
Assets | ||
Property, plant and equipment | 212,094 | 211,213 |
Intangible assets | 71,796 | 75,136 |
Right-of-use asset | 13,820 | 5,554 |
Investment in associates | 129,149 | 134,094 |
Financial assets | 8,903,400 | 8,975,983 |
Deferred tax assets | 52,414 | 38,330 |
Reinsurance/retakaful assets | 953,425 | 952,271 |
Insurance/takaful receivables | 636,060 | 614,826 |
Tax recoverable | 57,079 | 50,702 |
Cash and bank balances | 283,370 | 214,050 |
Total assets | 11,312,607 | 11,272,159 |
Liabilities and Participants' funds | ||
Participants' funds | 373,392 | 394,409 |
Borrowings | 320,000 | 320,000 |
Insurance/takaful contract liabilities | 7,597,796 | 7,487,057 |
Lease liability | 4,160 | 5,476 |
Insurance/takaful payables | 278,710 | 305,499 |
Other payables | 277,580 | 277,793 |
Deferred tax liabilities | 2,949 | 3,178 |
Provision for taxation | 6,760 | 5,319 |
Provision for zakat | 17,979 | 1,754 |
Total liabilities and participants' funds | 8,879,326 | 8,800,485 |
Equity | ||
Share capital | 738,502 | 738,502 |
Reserves | 1,694,779 | 1,733,172 |
Total equity attributable to equity holders of the Company | 2,433,281 | 2,471,674 |
Total liabilities, participants' funds and equity | 11,312,607 | 11,272,159 |
Net assets per share (RM) | 3.11 | 3.16 |
The Condensed Financial Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 March 2022
MNRB HOLDINGS BERHAD
(197201001795 (13487-A))
INTERIM FINANCIAL STATEMENTS (The figures have not been audited)
CONDENSED STATEMENT OF CHANGES IN EQUITY
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2022
GROUP | ||||||||
Attributable to Equity Holders of the Company | ||||||||
Reserves | ||||||||
Non-distributable | Distributable | |||||||
Foreign | Retained | |||||||
exchange | profits | |||||||
Share | translation | Fair value | Revaluation | brought | Net | |||
capital | reserve | reserve | reserve | forward | loss | Total | ||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||
At 1 April 2022 | 738,502 | 45,966 | 25,973 | 49,575 | 1,611,658 | - | 2,471,674 | |
Total comprehensive income/(loss) | ||||||||
for the year | - | 4,185 | (29,795) | 495 | - | (13,278) | (38,393) | |
At 30 June 2022 | 738,502 | 50,151 | (3,822) | 50,070 | 1,611,658 | (13,278) | 2,433,281 | |
CONDENSED STATEMENT OF CHANGES IN EQUITY | ||||||||
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2021 | ||||||||
GROUP | ||||||||
Attributable to Equity Holders of the Company | ||||||||
Non-distributable | Distributable | |||||||
Foreign | Retained | |||||||
exchange | profits | |||||||
Share | translation | Fair value | Revaluation | brought | Net | |||
capital | reserve | reserve | reserve | forward | profit | Total | ||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||
At 1 April 2021 | 738,502 | 47,087 | 53,092 | 51,082 | 1,528,557 | - | 2,418,320 | |
Total comprehensive (loss)/income | ||||||||
for the year | - | (5,031) | 11,173 | 23 | - | 46,578 | 52,743 | |
At 30 June 2021 | 738,502 | 42,056 | 64,265 | 51,105 | 1,528,557 | 46,578 | 2,471,063 |
The Condensed Financial Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 March 2022
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MNRB Holdings Berhad published this content on 04 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2022 10:31:01 UTC.