VERSALINK HOLDINGS LIMITED VERSALINK HOLDINGS LIMITED
(Incorporated in Singapore on 21 April 2014)
(Registration No: 201411394N)
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31 AUGUST 2021
- Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income For the Six Months ended 31 August 2021
Group | ||||||
Unaudited | Unaudited | |||||
6 months | 6 months | Increase/ | ||||
Note | ended 31 Aug | ended 31 Aug | ||||
(Decrease) | ||||||
2021 | 2020 | |||||
RM'000 | RM'000 | +/(-) % | ||||
Revenue | 4 | 13,588 | 14,099 | (3.6) | ||
Cost of sales | (10,948) | (11,773) | (7.0) | |||
Gross profit | 2,640 | 2,326 | 13.5 | |||
Interest income | 105 | 152 | (30.9) | |||
Other income and gains | 119 | 195 | (39.0) | |||
Marketing and distribution expenses | (1,435) | (1,785) | (19.6) | |||
Administrative expenses | (2,675) | (2,960) | (9.6) | |||
Other losses | (701) | (61) | nm* | |||
Finance costs | (71) | (127) | (44.1) | |||
Loss before income tax | 6 | (2,018) | (2,260) | (10.7) | ||
Income tax credit | 7 | - | 4 | (100.0) | ||
Loss, net of income tax | (2,018) | (2,256) | (10.5) | |||
Other comprehensive income: | ||||||
Items that may be reclassified subsequently to profit or loss: | ||||||
Exchange differences on translating of | ||||||
foreign operations, net of income tax | - | - | - | |||
Total comprehensive loss for the period | (2,018) | (2,256) | (10.5) | |||
Loss, net of tax attributable to: | ||||||
Owners of the Company | (2,018) | (2,256) | (10.5) | |||
Non-controlling interest | - | - | - | |||
Loss, net of tax | (2,018) | (2,256) | (10.5) | |||
Total comprehensive loss for the period attributable to: | ||||||
Owners of the Company | (2,018) | (2,256) | (10.5) | |||
Non-controlling interest | - | - | - | |||
Total comprehensive loss for the period | (2,018) | (2,256) | (10.5) | |||
Loss per share attributable to the owners of the
Company (Sen Ringgit Malaysia)
Basic (1) and diluted (2)(1.49)(1.67) *nm denotes not meaningful
Notes:
- Computed based on loss attributable to owners of the Company for the respective financial periods divided by the weighted average number of ordinary shares in issue during the respective financial periods.
- As there are no dilutive potential ordinary shares that were outstanding during the respective financial periods, the diluted loss per share is the same as the basic loss per share.
1
VERSALINK HOLDINGS LIMITED
Condensed Interim Consolidated Financial Statements for the Six Months Ended 31 August 2021
- Condensed Interim Consolidated Statements of Financial Position as at 31 August 2021
Group | Company | |||||||
Note | Unaudited | Audited | Unaudited | Audited | ||||
31.08.2021 | 28.02.2021 | 31.08.2021 | 28.02.2021 | |||||
RM'000 | RM'000 | RM'000 | RM'000 | |||||
ASSETS | ||||||||
Non-current assets | ||||||||
Property, plant and equipment | 9 | 29,348 | 28,628 | - | - | |||
Right-of-use assets | - | 31 | - | - | ||||
Intangible asset | 10 | - | - | - | - | |||
Investment in subsidiaries | - | - | 55,267 | 57,257 | ||||
Other receivables, non-current | 1,090 | 1,090 | - | - | ||||
Total non-current assets | 30,438 | 29,749 | 55,267 | 57,257 | ||||
Current assets | ||||||||
Inventories | 12,976 | 11,840 | - | - | ||||
Trade and other receivables, current | 3,870 | 5,549 | 8,653 | 8,376 | ||||
Other non-financial assets, current | 2,375 | 3,445 | 1 | 22 | ||||
Other financial assets, current | 11 | 2,456 | 2,433 | - | - | |||
Cash and cash equivalents | 5,596 | 7,496 | 25 | 245 | ||||
Total current assets | 27,273 | 30,763 | 8,679 | 8,643 | ||||
Total assets | 57,711 | 60,512 | 63,946 | 65,900 | ||||
EQUITY AND LIABILITIES | ||||||||
Equity | ||||||||
Share capital | 12 | 62,513 | 62,513 | 62,513 | 62,513 | |||
(Accumulated losses)/retained earnings | (15,879) | (13,861) | 1,161 | 2,986 | ||||
Foreign currency translation reserves | 8 | 8 | - | - | ||||
Total equity | 46,642 | 48,660 | 63,674 | 65,499 | ||||
Non-current liabilities | ||||||||
Deferred tax liabilities | 173 | 173 | - | - | ||||
Other financial liabilities, non-current | 13 | 460 | - | - | - | |||
Total non-current liabilities | 633 | 173 | - | - | ||||
Current liabilities | ||||||||
Income tax payable | 5 | 11 | 5 | 11 | ||||
Trade and other payables, current | 6,689 | 6,971 | 267 | 390 | ||||
Other financial liabilities, current | 13 | 3,742 | 4,664 | - | - | |||
Lease liabilities, current | - | 33 | - | - | ||||
Total current liabilities | 10,436 | 11,679 | 272 | 401 | ||||
Total liabilities | 11,069 | 11,852 | 272 | 401 | ||||
Total equity and liabilities | 57,711 | 60,512 | 63,946 | 65,900 | ||||
2
VERSALINK HOLDINGS LIMITED
Condensed Interim Consolidated Financial Statements for the Six Months Ended 31 August 2021
- Condensed Interim Consolidated Statements of Changes In Equity For the Six Months ended 31 August 2021
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |
Foreign | |||||
Currency | Non- | ||||
Share | Translation | Accumulated | controlling | Total | |
Group | Capital | Reserve | Losses | Interests | Equity |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
Balance at 1 March 2021 | 62,513 | 8 | (13,861) | - | 48,660 |
Loss for the financial period | - | - | (2,018) | - | (2,018) |
Exchange differences on translation | |||||
foreign operations | - | - | - | - | - |
Total comprehensive loss for the | |||||
period | - | - | (2,018) | - | (2,018) |
Balance at 31 August 2021 | 62,513 | 8 | (15,879) | - | 46,642 |
Balance at 1 March 2020 | 62,513 | 8 | (9,660) | - | 52,861 |
Loss for the financial period | - | - | (2,256) | - | (2,256) |
Exchange differences on translation | |||||
foreign operations | - | - | - | - | - |
Total comprehensive loss for the | |||||
period | - | - | (2,256) | - | (2,256) |
Balance at 31 August 2020 | 62,513 | 8 | (11,916) | - | 50,605 |
Unaudited | Unaudited | Unaudited | Unaudited | ||
Foreign | |||||
Currency | |||||
Share | Translation | Retained | Total | ||
Company | Capital | Reserve | Earnings | Equity | |
RM'000 | RM'000 | RM'000 | RM'000 | ||
Balance at 1 March 2021 | 62,513 | - | 2,986 | 65,499 | |
Total comprehensive loss for the | |||||
period | - | - | (1,825) | (1,825) | |
Balance at 31 August 2021 | 62,513 | - | 1,161 | 63,674 | |
Balance at 1 March 2020 | 62,513 | - | 6,232 | 68,745 | |
Total comprehensive income for the | |||||
period | - | - | 190 | 190 | |
Balance at 31 August 2020 | 62,513 | - | 6,422 | 68,935 |
3
VERSALINK HOLDINGS LIMITED
Condensed Interim Consolidated Financial Statements for the Six Months Ended 31 August 2021
- Condensed Interim Consolidated Statement of Cash Flows For the Six Months ended 31 August 2021
Group | |||
Unaudited | Unaudited | ||
6 months | 6 months | ||
ended 31 Aug | ended 31 Aug | ||
2021 | 2020 | ||
RM'000 | RM'000 | ||
Cash flows from/(used in) operating activities | |||
Loss before tax | (2,018) | (2,260) | |
Adjustments for: | |||
Depreciation of property, plant and equipment | 1,088 | 1,115 | |
Depreciation of right-of-use assets | 31 | 256 | |
Gain on disposal of plant and equipment | (56) | - | |
Interest income | (105) | (152) | |
Interest expenses | 71 | 127 | |
Plant and equipment written off | - | 1 | |
Operating cash flows before changes in working capital | (989) | (913) | |
Inventories | (1,136) | 1,267 | |
Trade and other receivables, net | 1,460 | (2,760) | |
Other non-financial assets | 1,093 | (269) | |
Other financial assets | (23) | 967 | |
Trade and other payables | (282) | 21 | |
Net cash flows from/(used in) operations | 123 | (1,687) | |
Income taxes paid | (29) | (90) | |
Net cash flows from/(used in) operating activities | 94 | (1,777) | |
Cash flows used in investing activities | |||
Purchase of plant and equipment | (1,808) | (204) | |
Proceeds from disposal of plant and equipment | 56 | - | |
Interest received | 105 | 152 | |
Net cash flows used in investing activities | (1,647) | (52) | |
Cash flows (used in)/from financing activities | |||
(Decrease)/Increase in other financial liabilities | (495) | 972 | |
Repayment from associate | 220 | 216 | |
Interest paid | (71) | (102) | |
Lease liabilities repayment | (33) | (277) | |
Decrease in cash restricted in use | (3) | (11) | |
Net cash flows (used in)/from financing activities | (382) | 798 | |
Net decrease in cash and cash equivalents | (1,935) | (1,031) | |
Cash and cash equivalents, statement of cash flows, | |||
beginning balance | 5,089 | 4,680 | |
Cash and cash equivalents, statement of cash flows, | |||
ending balance (Note A) | 3,154 | 3,649 | |
4
VERSALINK HOLDINGS LIMITED
Condensed Interim Consolidated Financial Statements for the Six Months Ended 31 August 2021
Note A: | Group | ||
Unaudited | Unaudited | ||
6 months | 6 months | ||
ended 31 Aug | ended 31 Aug | ||
2021 | 2020 | ||
RM'000 | RM'000 | ||
Cash and bank balances at end of the period | 5,596 | 5,735 | |
Bank overdrafts | (1,474) | (1,133) | |
Cash pledged for bank facilities | (968) | (953) | |
Cash and cash equivalents as disclosed in consolidated | |||
statement of cash flow | 3,154 | 3,649 | |
5
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Versalink Holdings Ltd. published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 00:51:01 UTC.
