Renaissance United Limited
(Incorporated in Singapore. Registration Number. 199202747M)
Condensed Interim Financial Statements and Dividend Annoucement Annoucement
For the Three Months ended 31 July 2021 ("1QFY22").
Table of Contents
Page
- Condensed interim consolidated statement of profit or loss and
other comprehensive income | 2 | |
B. | Condensed interim statements of financial position | 3 |
C. | Condensed interim statements of changes in equity | 4 |
D. | Condensed interim consolidated statement of cash flows | 5 |
E. | Notes to the condensed interim consolidated financial statements | 6 |
F. | Other information required by Listing Rule Appendix 7.2 | 18 |
RENAISSANCE UNITED LIMITED
(Registration No. 199202747M)
Condensed Interim Financial Statements and Dividend Announcement
for the Three Months ended 31 July 2021 ("1QFY22").
A. Condensed interim consolidated statement of profit or loss and other comprehensive income
Group | ||||
3 Months | 3 Months | % | ||
to 31/07/21 | to 31/07/20 | Increase/ | ||
Note | S$'000 | S$'000 | (Decrease) | |
Revenue | ||||
Sale of goods | 4 | 4,160 | 4,470 | (6.9) |
Sale of land lots | - | - | - | |
Natural gas installation, connection, delivery and usage | 4 | 10,186 | 9,179 | 11.0 |
14,346 | 13,649 | 5.1 | ||
Other items of income | ||||
Fair value gain of financial assets, at fair value through profit or loss | - | 7 | nm | |
Interest income | 7 | 36 | (80.6) | |
Other income | 393 | 178 | nm | |
Total revenue | 400 | 221 | 81.0 | |
Operating expenses | ||||
Changes in inventories | 986 | (103) | nm | |
Raw materials and consumables used | (11,309) | (8,902) | 27.0 | |
Amortisation of intangible assets | (329) | (346) | (4.9) | |
Depreciation of property, plant and equipment | (939) | (920) | 2.1 | |
Fair value loss of financial assets, at fair value through profit or loss | (3) | - | nm | |
Impairment loss of trade and other receivables and convertible loan | (18) | (80) | (77.5) | |
Foreign exchange loss, net | - | (769) | nm | |
Employee benefits expenses | (1,501) | (1,363) | 10.1 | |
Finance Costs | (263) | (246) | 6.9 | |
Lease expenses | (3) | (13) | (76.9) | |
Other expenses | (732) | (959) | (23.7) | |
Total expenses | (14,111) | (13,701) | 3.0 | |
Profit before income tax | 5 | 635 | 169 | nm |
Income tax expense | 6 | (158) | (82) | 92.7 |
Profit for the financial period | 477 | 87 | nm | |
Other comprehensive income/(loss) : | ||||
Items that may be reclassified subsequently to profit or loss : | ||||
Exchange differences on translation of foreign operations arising from consolidation | 847 | (263) | nm | |
Items that will not be reclassified subsequently to profit or loss : | ||||
Exchange differences on translation of foreign operations arising from consolidation | 4 | (1) | nm | |
Other comprehensive income/(loss) for the financial period, net of tax | 851 | (264) | nm | |
Total comprehensive income/(loss) for the financial period | 1,328 | (177) | nm | |
Profit/(loss) attributable to : | ||||
Equity holders of the Company | 286 | (270) | nm | |
Non-controlling interests | 191 | 357 | (46.5) | |
477 | 87 | nm | ||
Total comprehensive income/(loss) attributable to : | ||||
Equity holders of the Company | 1,133 | (533) | nm | |
Non-controlling interests | 195 | 356 | (45.2) | |
1,328 | (177) | nm | ||
Earnings/(loss) per share for loss attributable to equity holders of the Company | ||||
Basic and diluted (in cents) | 0.005 | (0.004) | ||
nm-not meaningful | ||||
2
RENAISSANCE UNITED LIMITED
(Registration No. 199202747M)
Condensed Interim Financial Statements and Dividend Announcement
for the Three Months ended 31 July 2021 ("1QFY22").
B. Condensed interim statements of financial position
Group | Group | Company | Company | ||
As at | As at | As at | As at | ||
31/07/21 | 30/04/21 | 31/07/21 | 30/04/21 | ||
Note | S$'000 | S$'000 | S$'000 | S$'000 | |
Non-current assets | |||||
Intangible assets | 7 | 13,113 | 13,193 | - | - |
Property, plant and equipment | 8 | 78,964 | 76,945 | 14 | 15 |
Investment in subsidiaries | - | - | 48,508 | 48,508 | |
Trade and other receivables | 2,850 | 2,794 | - | - | |
Deferred tax assets | 467 | 459 | - | - | |
95,394 | 93,391 | 48,522 | 48,523 | ||
Current assets | |||||
Inventories | 2,636 | 1,651 | - | - | |
Development property | 9 | 4,264 | 4,209 | - | - |
Trade and other receivables | 13,313 | 13,744 | 49 | 51 | |
Financial assets, at fair value through profit or loss | 549 | 553 | 501 | 502 | |
Cash and cash equivalents | 10 | 18,142 | 18,203 | 1,115 | 1,258 |
38,904 | 38,360 | 1,665 | 1,811 | ||
Total Assets | 134,298 | 131,751 | 50,187 | 50,334 | |
Current liabilities | |||||
Trade and other payables | 17,155 | 16,746 | 6,786 | 6,778 | |
Provisions | 59 | 71 | 6 | 6 | |
Current income tax payable | 957 | 953 | - | - | |
Borrowings | 11 | 12,563 | 13,340 | 4 | 4 |
Contract liabilities | 12 | 21,817 | 19,536 | - | - |
52,551 | 50,646 | 6,796 | 6,788 | ||
Net current liabilities | (13,647) | (12,286) | (5,131) | (4,977) | |
Non-current liabilities | |||||
Borrowings | 11 | 8,760 | 9,503 | 8 | 9 |
Deferred tax liabilities | 3,024 | 2,967 | - | - | |
11,784 | 12,470 | 8 | 9 | ||
Total Liabilities | 64,335 | 63,116 | 6,804 | 6,797 | |
NET ASSETS | 69,963 | 68,635 | 43,383 | 43,537 | |
Equity | |||||
Share capital | 13 | 265,811 | 265,811 | 265,811 | 265,811 |
Other reserves | 14 | (17,962) | (18,809) | 1,961 | 1,961 |
Accumulated losses | (194,226) | (194,512) | (224,389) | (224,235) | |
Equity attributable to equity holders of the Company | 53,623 | 52,490 | 43,383 | 43,537 | |
Non-controlling interests | 16,340 | 16,145 | - | - | |
TOTAL EQUITY | 69,963 | 68,635 | 43,383 | 43,537 |
3
RENAISSANCE UNITED LIMITED
(Registration No. 199202747M)
Condensed Interim Financial Statements and Dividend Announcement
for the Three Months ended 31 July 2021 ("1QFY22").
C. Condensed interim statements of changes in equity
Equity | ||||||||
attributable | ||||||||
Foreign | to equity | |||||||
exchange | Capital | Equity - | Accumulat | holders | Non- | |||
Share | translation | reduction | Non- | ed | of the | controlling | Total | |
capital | reserve | reserve | controlling | losses | Company | interests | equity | |
Group | S$'000 | S$'000 | S$'000 | interests | S$'000 | S$'000 | S$'000 | S$'000 |
Balance at 1 May 2021 | 265,811 | (15,519) | 1,961 | (5,251) | (194,512) | 52,490 | 16,145 | 68,635 |
Profit for the financial period | - | - | - | - | 286 | 286 | 191 | 477 |
Other comprehensive income | ||||||||
for the financial period: | ||||||||
Exchange differences on | ||||||||
translation of foreign operations | - | 847 | - | - | - | 847 | 4 | 851 |
Total comprehensive income | ||||||||
for the financial period | - | 847 | - | - | 286 | 1,133 | 195 | 1,328 |
Balance at 31 July 2021 | 265,811 | (14,672) | 1,961 | (5,251) | (194,226) | 53,623 | 16,340 | 69,963 |
Balance at 1 May 2020 | 265,811 | (17,088) | 1,961 | (5,251) | (189,110) | 56,323 | 15,277 | 71,600 |
(Loss)/profit for the financial | ||||||||
period | - | - | - | - | (270) | (270) | 357 | 87 |
Other comprehensive loss for | ||||||||
the financial period : | ||||||||
Exchange differences on | ||||||||
translation of foreign operations | - | (263) | - | - | - | (263) | (1) | (264) |
Total comprehensive | ||||||||
(loss)/income for the financial | ||||||||
period | - | (263) | - | - | (270) | (533) | 356 | (177) |
Transactions with non- | ||||||||
controlling interests | - | - | - | 98 | - | 98 | (98) | - |
Balance at 31 July 2020 | 265,811 | (17,351) | 1,961 | (5,153) | (189,380) | 55,888 | 15,535 | 71,423 |
Share | Capital reduction | Accumulated | Total | |||||
capital | reserve | losses | equity | |||||
Company | S$'000 | S$'000 | S$'000 | S$'000 | ||||
Balance at 1 May 2021 | 265,811 | 1,961 | (224,235) | 43,537 | ||||
Loss and total comprehensive | ||||||||
income for the financial period | - | - | (154) | (154) | ||||
Balance at 31 July 2021 | 265,811 | 1,961 | (224,389) | 43,383 | ||||
Balance at 1 May 2020 | 265,811 | 1,961 | (224,902) | 42,870 | ||||
Loss and total comprehensive | ||||||||
income for the financial period | - | - | (30) | (30) | ||||
Balance at 31 July 2020 | 265,811 | 1,961 | (224,932) | 42,840 |
4
RENAISSANCE UNITED LIMITED
(Registration No. 199202747M)
Condensed Interim Financial Statements and Dividend Announcement
for the Three Months ended 31 July 2021 ("1QFY22").
D. Condensed interim consolidated statement of cash flows
3 Months | 3 Months | |
to 31/07/21 | to 31/07/20 | |
S$'000 | S$'000 | |
Cash flows from operating activities | ||
Profit before income tax | 635 | 169 |
Adjustments for: | ||
Impairment loss of trade and other receivables and convertible loan, net | 18 | 80 |
Amortisation of intangible assets | 329 | 346 |
Depreciation of property, plant and equipment | 939 | 920 |
Interest expenses | 180 | 213 |
Interest income | (7) | (36) |
Interest expenses on lease liabilities | 11 | 12 |
Provisions made during the financial period | 10 | 3 |
Fair value gain/(loss) on financial assets, at fair value through profit or loss | 3 | (7) |
Unrealised foreign exchange (gain)/loss | (353) | 755 |
Operating cash flows before working capital changes | 1,765 | 2,455 |
Changes in working capital : | ||
Inventories | (982) | (1,018) |
Development property | (4) | (20) |
Trade and other receivables | 436 | (1,185) |
Trade and other payables and contract liabilities | 1,864 | 3,181 |
Provisions | (22) | (40) |
Cash generated from operations | 3,057 | 3,373 |
Interest received | 7 | 15 |
Interest paid on bank overdrafts | (22) | (13) |
Net income tax paid | (158) | (228) |
Net cash generated from operating activities | 2,884 | 3,147 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (766) | (1,064) |
Net cash used in investing activities | (766) | (1,064) |
Cash flows from financing activities | ||
Proceeds from borrowings | - | 611 |
Repayments of borrowings | (1,781) | (4,178) |
Repayment of lease liabilities | (2) | (98) |
Interest paid on borrowings | (147) | (200) |
Interest paid on lease liabilities | (95) | (12) |
Net cash used in financing activities | (2,025) | (3,877) |
Net increase/(decrease) in cash and cash equivalents | 93 | (1,794) |
Cash and cash equivalents at beginning of financial period | 12,872 | 8,933 |
Effects of exchange rate changes in cash and cash equivalents | 196 | (120) |
Cash and cash equivalents at end of the financial period | 13,161 | 7,019 |
5
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Renaissance United Limited published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 14:21:04 UTC.