UEM SUNRISE BERHAD

Registration No. 200801028815 (830144-W)

Incorporated In Malaysia

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2023

THE FIGURES HAVE NOT BEEN AUDITED

I(A). CONDENSED CONSOLIDATED INCOME STATEMENT

INDIVIDUAL QUARTER

CUMULATIVE QUARTER

Preceding year

Six

Six

Current year

corresponding

months

months

quarter

quarter

to

to

Note

30/06/2023

30/06/2022

30/06/2023

30/06/2022

RM'000

RM'000

RM'000

RM'000

1. (a)

Revenue

363,955

365,000

604,733

781,451

(b)

Cost of sales

(249,320)

(250,630)

(383,982)

(568,217)

(c)

Gross profit

114,635

114,370

220,751

213,234

(d)

Other income

15,094

17,483

28,135

30,893

(e)

Expenses

(60,885)

(70,560)

(116,584)

(130,212)

(f)

Finance costs

(44,271)

(35,615)

(78,307)

(70,551)

(g)

Foreign exchange gain/(loss)

1,083

(3,534)

4,252

3,128

(h)

Share of net results of associates

375

5,713

(318)

6,882

(i)

Share of net results of joint ventures

18,916

4,378

14,635

14,640

(j)

Profit before income tax

44,947

32,235

72,564

68,014

(k)

Income tax expense

14

(17,057)

(11,244)

(28,902)

(27,819)

(l)

Profit for the period

27,890

20,991

43,662

40,195

Attributable to:

(m) Owners of the Parent

24,698

20,701

40,052

39,721

(n)

Non-controlling Interests

3,192

290

3,610

474

Profit for the period

27,890

20,991

43,662

40,195

2. Earning per share based on

1(m) above

21

0.49 sen

0.41 sen

0.79 sen

0.79 sen

The condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2022 and the accompanying explanatory notes attached to this quarterly announcement.

1

UEM SUNRISE BERHAD

Registration No. 200801028815 (830144-W)

Incorporated In Malaysia

I(B). CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Profit for the period

Other comprehensive income/(expense) to be reclassified to profit

or loss in subsequent period:

Foreign currency translation differences for foreign operations

Total other comprehensive income/ (expense) for the period, net of tax

Total comprehensive income for the period

Attributable to:

Owners of the Parent

Non-controlling Interests

Total comprehensive income for the period

INDIVIDUAL QUARTER

CUMULATIVE QUARTER

Preceding year

Six

Six

Current year

corresponding

months

months

quarter

quarter

to

to

30/06/2023

30/06/2022

30/06/2023

30/06/2022

RM'000

RM'000

RM'000

RM'000

27,890

20,991

43,662

40,195

12,921

(10,693)

12,921

9,336

12,921

(10,693)

12,921

9,336

40,811

10,298

56,583

49,531

37,188

9,996

52,960

49,069

3,623

302

3,623

462

40,811

10,298

56,583

49,531

The condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2022 and the accompanying explanatory notes attached to this quarterly announcement.

2

UEM SUNRISE BERHAD

Registration No. 200801028815 (830144-W)

Incorporated In Malaysia

I(C). REMARKS TO CONDENSED CONSOLIDATED INCOME STATEMENT

INDIVIDUAL QUARTER

CUMULATIVE QUARTER

Preceding year

Six

Six

Current year

corresponding

months

months

quarter

quarter

to

to

Note

30/06/2023

30/06/2022

30/06/2023

30/06/2022

RM'000

RM'000

RM'000

RM'000

Profit before income tax is arrived

at after charging/(crediting):

Finance costs

44,271

35,615

78,307

70,551

Depreciation

14,203

13,272

26,955

26,835

Interest income

(10,652)

(5,338)

(19,044)

(10,195)

(Gain)/loss on foreign exchange:

- unrealised

(649)

3,557

(3,820)

(3,056)

- realised

(434)

(23)

(432)

(72)

Dividend income from investment

at fair value through profit or loss

(1,408)

(162)

(1,374)

(187)

Write back of impairment

of receivables

-

-

-

(556)

Net allowance for doubtful debts

524

1,767

831

1,752

Loss on disposal of subsidiaries

(a)

-

-

-

479

Other than the above, there was no write-off of inventories, write-back of impairment of assets, exceptional items and reversal of provisions for the costs of restructuring.

  1. On 18 March 2022, Sunrise Berhad, a wholly-owned subsidiary of the Company, completed the Share Sale and Purchase Agreement ("SSPA") with SCM Property Management Sdn Bhd ("Purchaser") for the disposal of 100% equity in SCM Property Services Sdn Bhd ("SCM") for a total sale consideration of RM1.7 million. Consequently, SCM ceased to be an indirect subsidiary of the Company ("SCM disposal").

3

UEM SUNRISE BERHAD

Registration No. 200801028815 (830144-W)

Incorporated In Malaysia

II. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Unaudited

Audited

As at current

As at preceding

financial year end financial year end

ASSETS

1. Non-current assets

Property, plant and equipment Investment properties Right-of-use assets

Land held for property development Interests in associates

Interests in joint ventures Amounts due from joint ventures Goodwill

Deferred tax assets Long term receivables

2. Current assets

Property development costs Inventories held for sale Inventories under contract of sale Receivables

Contract assets

Amounts due from associates Amounts due from joint ventures Short term investments

Cash, bank balances and deposits

Assets classified as held for sale

30/06/2023

RM'000

395,975

784,653

19,790

5,169,187

847,401

910,931

152,154

621,409

264,047

364,611

9,530,158

995,768

145,955

76,647

562,674

373,011

612

102,515

5

1,544,899

3,802,086

22,473

31/12/2022

RM'000

407,260

780,014

21,831

5,158,456

844,980

891,191

156,982

621,409

283,003

360,295

9,525,421

978,702

203,005

102,096

672,969

374,672

612

103,473

45,005

1,025,551

3,506,085

22,397

Total assets

13,354,717

13,053,903

4

UEM SUNRISE BERHAD

Registration No. 200801028815 (830144-W)

Incorporated In Malaysia

II. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONT'D)

Note

EQUITY AND LIABILITIES

3. Equity attributable to Owners of the Parent

Share capital

Reserves

Merger relief reserve

Other reserves

Retained profits

4. Non-controlling Interests

Total equity

5. Non-current liabilities

Borrowings

16

Lease liabilities

Payables

Contract liabilities

Deferred income

Provisions

Deferred tax liabilities

6. Current liabilities

Provisions

Payables

Contract liabilities

Borrowings

16

Lease liabilities

Tax payable

Total liabilities

Total equity and liabilities

7. Net assets per share attributable to Owners of the Parent

Unaudited

Audited

As at current

As at preceding

financial year end financial year end

30/06/2023

31/12/2022

RM'000

RM'000

4,960,276

4,960,276

34,330

34,330

91,248

78,340

1,711,015

1,696,255

6,796,869

6,769,201

108,090

104,467

6,904,959

6,873,668

2,885,069

2,360,637

16,532

18,414

47,147

45,976

242,146

239,678

193,880

162,839

29,884

68,317

149,459

163,395

3,564,117

3,059,256

151,279

104,003

867,135

937,938

69,718

105,041

1,769,958

1,954,611

3,729

3,617

23,822

15,769

2,885,641

3,120,979

6,449,758

6,180,235

13,354,717

13,053,903

RM 1.34

RM 1.34

The condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Audited Financial Statements for the year ended 31 December 2022 and the accompanying explanatory notes attached to this quarterly announcement.

5

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UEM Sunrise Berhad published this content on 21 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2023 07:40:05 UTC.