INFORMATICS EDUCATION LTD AND ITS SUBSIDIARIES

COMPANY REGISTRATION NUMBER: 198303419G

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR HALF YEAR ENDED 31 DECEMBER 2021

Pursuant to Rule 705(2C) of the SGX-ST Listing Rules (Mainboard), the Singapore Exchange Regulation requires the

Company to continue to announce its quarterly financial statements with effect from 7 February 2020.

1

Informatics Education Ltd and its subsidiaries

Condensed consolidated income statement for half year ended 31 December 2021 (In Singapore Dollars)

Q2 ended

Q2 ended

1H ended

Note 31.12.2021

31.12.2020 Change

31.12.2021

1H ended 31.12.2020 Change

(Re-presented)(1)

(Re-presented)(1)

$'000

$'000

%

$'000

$'000

%

Continuing operations

Revenue

6.2

1,558

914

70%

3,327

3,009

11%

Other operating income

7

11

8

38%

12

9

33%

Staff costs

(846)

(809)

5%

(1,680)

(1,559)

8%

Depreciation of property, plant and

-52%

-53%

equipment

12

(39)

(82)

(79)

(167)

Write-back of/(allowance for)

13

(42)

(20)

(55)

expected credit loss on receivables

N/M

-64%

Other operating expenses

(783)

(541)

45%

(1,600)

(1,563)

2%

Loss before taxation

7

-84%

-88%

(86)

(552)

(40)

(326)

Taxation

8

(1)

(7)

-86%

(1)

(7)

-86%

Loss for the financial period from

continuing operations

(87)

(559)

-84%

(41)

(333)

-88%

Discontinued operation

Loss for the financial period from

discontinued operation

(9)

(176)

-95%

(42)

(368)

-89%

Loss for the financial period

-87%

-88%

(96)

(735)

(83)

(701)

Loss attributable to:

Equity holders of the Company

-84%

-88%

Loss from continuing operations

(87)

(559)

(41)

(333)

Loss from discontinued operation

(9)

(176)

-95%

(42)

(368)

-89%

-87%

-88%

(96)

(735)

(83)

(701)

Loss per share attributable to equity

holders of the Company (cents)

Basic loss per share

- From continuing operations

(0.04)

(0.31)

-87%

(0.02)

(0.19)

-89%

- From discontinued operation

(0.01)

(0.10)

-90%

(0.03)

(0.21)

-86%

(0.05)

(0.41)

-88%

(0.05)

(0.40)

-88%

Diluted loss per share

- From continuing operations

(0.04)

(0.31)

-87%

(0.02)

(0.19)

-89%

- From discontinued operation

(0.01)

(0.10)

-90%

(0.03)

(0.21)

-86%

(0.05)

(0.41)

-88%

(0.05)

(0.40)

-88%

  1. Comparative numbers have been re-presented to report separately profit and loss items for continuing and discontinued operations, as explained in Note 5.

N/M: Not meaningful

2

Informatics Education Ltd and its subsidiaries

Condensed consolidated statement of comprehensive income for half year ended 31 December 2021

(In Singapore Dollars)

Q2 ended

Q2 ended

Change

1H ended

1H ended

Change

31.12.2021

31.12.2020

31.12.2021

31.12.2020

$'000

$'000

%

$'000

$'000

%

Loss for the financial period

(96)

(735)

-87%

(83)

(701)

-88%

Other comprehensive income:

Items that may be reclassified

subsequently to profit or loss

-7%

N/M

Foreign currency translation

50

54

75

28

Other comprehensive income for

-7%

N/M

the financial period

50

54

75

28

Total comprehensive income

for the financial period

(46)

(681)

-93%

(8)

(673)

-99%

Total comprehensive income

attributable to:

Equity holders of the Company

(46)

(681)

-93%

(8)

(673)

-99%

-93%

-99%

(46)

(681)

(8)

(673)

N/M: Not meaningful

3

Informatics Education Ltd and its subsidiaries

Condensed statements of financial position as at 31 December 2021 (In Singapore Dollars)

Group

Company

Note

31.12.2021

30.06.2021

Change

31.12.2021

30.06.2021

Change

$'000

$'000

%

$'000

$'000

%

Non-current assets

N/M

N/M

Property, plant and equipment

12

401

70

-

-

Intangible assets

13

229

285

-20%

-

-

N/M

Investment in subsidiaries

-

-

N/M

557

557

N/M

Trade and other receivables

-

-

N/M

822

859

-4%

630

355

1,379

1,416

Current assets

-4%

67%

Prepayments

240

250

10

6

Trade and other receivables

1,055

1,003

5%

335

138

N/M

Cash and bank balances

1,970

2,039

-3%

1,180

1,055

12%

Assets of disposal group

171

-

N/M

-

-

N/M

3,436

3,292

1,525

1,199

Total assets

4,066

3,647

2,904

2,615

Current liabilities

-21%

N/M

Deferred income and fees

1,425

1,808

242

120

Trade and other payables

2,247

2,161

4%

4,351

3,693

18%

Interest-bearing borrowings

14

1,019

1,019

N/M

1,000

1,000

N/M

Lease liabilities

207

210

-1%

-

-

N/M

Provision for reinstatement cost

-

26

-100%

-

-

N/M

Liabilities of disposal group

476

-

N/M

-

-

N/M

5,374

5,224

5,593

4,813

Net current liabilities

(1,938)

(1,932)

(4,068)

(3,614)

Non-current liabilities

N/M

-40%

Trade and other payables

-

-

451

749

Interest-bearing borrowings

14

63

74

-15%

-

-

N/M

Lease liabilities

261

-

N/M

-

-

N/M

Provision for reinstatement cost

27

-

N/M

-

-

N/M

351

74

451

749

Total net liabilities

(1,659)

(1,651)

(3,140)

(2,947)

Equity attributable to equity

holders of the Company

Share capital

15

34,667

34,667

N/M

34,667

34,667

N/M

Reserves

(36,326)

(36,318)

N/M

(37,807)

(37,614)

1%

Total equity

(1,659)

(1,651)

(3,140)

(2,947)

N/M: Not meaningful

4

Informatics Education Ltd and its subsidiaries

Condensed consolidated cash flow statement for half year ended 31 December 2021 (In Singapore Dollars)

1H ended

1H ended

Note

31.12.2021

31.12.2020

$'000

$'000

Cash flow from operating activities

Loss before taxation

- Continuing operations

(40)

(326)

- Discontinued operation

(42)

(368)

Adjustments for:

(82)

(694)

Depreciation of property, plant and equipment

12

79

169

Amortisation of intangible assets

51

8

Net gain on disposal of property, plant and equipment

(4)

-

Property, plant and equipment expensed-off

-

3

Allowance for/(write-back of) expected credit loss on receivables

25

(47)

(Write-backof)/write-off of bad debts

(1)

7

Interest expense on lease liabilities

2

8

Finance costs

7

7

Interest income

(3)

(6)

Government grants and subsidies

-

(53)

Unrealised exchange loss

76

9

Operating profit/(loss) before working capital changes

150

(589)

(Increase)/decrease in prepayments, trade and other receivables

(170)

410

Decrease in deferred income and fees

(383)

(496)

Increase/(decrease) in trade and other payables

263

(53)

Cash used in operations

(140)

(728)

Interest received

1

11

Interest paid

(7)

(7)

Tax paid

(2)

(7)

Net cash flows used in operating activities

(148)

(731)

Cash flows from investing activities

Purchase of property, plant and equipment

12

(14)

(7)

Expenditure on intangible assets

13

-

(108)

Proceeds from disposal of property, plant and equipment

4

-

Net cash flows used in investing activities

(10)

(115)

Cash flows from financing activities

Repayment of lease liabilities (net of government grants and subsidies)

(149)

(415)

Repayment of interest-bearing borrowings

(9)

-

Amount due to immediate holding company

300

-

Net cash flows generated from/(used in) financing activities

142

(415)

5

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Informatics Education Ltd. published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 11:02:02 UTC.