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% | ||
- 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) |
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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.