Financial Statements and Related Announcement::Full Yearly Results

JAWALA INC.

(Incorporated in Labuan on 8 August 2017)

(Company Registration No. LL13922)

UNAUDITED FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT

FOR THE SIX MONTHS AND FULL YEAR ENDED 31 JULY 2021

This announcement has been prepared by Jawala Inc. (the "Company") and its contents have been reviewed by UOB Kay Hian Private Limited (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone [phone].

Background

The Company was incorporated in Labuan on 8 August 2017 in Labuan, Malaysia under the Labuan Companies Act as a company limited by shares under the name "Jawala Inc.".

The Company is a forest resource company based in Malaysia with a focus on industrial tree plantations situated in Sabah. The Company's main business is the management of forestry resources, and the planting and extraction of timber. The Company with its subsidiary corporation (the "Group") focus on the cultivation of industrial tree plantations through the implementation of sustainable forest management practices.

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TABLE OF CONTENTS

A.	Condensed interim consolidated statement of profit or loss and other	3
	comprehensive income
B	Condensed interim statements of financial position	4
C	Condensed interim statements of changes in equity	5
D	Condensed interim consolidated statement of cash flows	6
E	Notes to the condensed interim consolidated financial statements	7 - 16
F	Other information required by Listing Rule Appendix 7C	17 - 23

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1. CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

				Group
		6 months ended		12 months ended
		31 July	31 July
		2021	2020	Increase/	FY2021	FY2020	Increase/
		(Unaudited)	(Unaudited)	(Decrease)	(Unaudited)	(Audited)	(Decrease)
	Note	RM'000	RM'000	%	RM'000	RM'000	%
Revenue	4	17,678	1,962	801	33,659	20,712	63
Cost of sales		(8,070)	(1,073)	652	(15,610)	(9,328)	67
Gross profit		9,608	889	981	18,049	11,384	59
Other income		325	764	(57)	695	1,203	(42)
Expenses
- Distribution		(823)	(49)	1,580	(1,106)	(896)	23
- Administrative		(3,963)	(3,334)	19	(6,868)	(6,400)	7
- Finance		(23)	(51)	(55)	(102)	(105)	(3)
Profit/(loss)
before tax	6	5,124	(1,781)	NM	10,668	5,186	106
Income tax
expense	7	(1,361)	(147)	826	(2,752)	(1,706)	61
Total
comprehensive
income/(loss),
representing net
profit/(loss)		3,763	(1,928)	NM	7,916	3,480	127
Total
comprehensive
income/(loss)
and net
profit/(loss)
attributable to:
Equity holders of
the Company		2,502	(1,487)	NM	5,341	2,203	142
Non-controlling
interests		1,261	(441)	NM	2,575	1,277	102
		3,763	(1,928)	NM	7,916	3,480	127
Profit/(loss) per
share attributable
to owners of the
Company (RM)		0.02	(0.01)		0.05	0.02

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B. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

			Group		Company
			As at	As at	As at	As at
			31 July 2021	31 July	31 July 2021	31 July
	Note	(Unaudited)	2020	(Unaudited)	2020
	RM'000	(Audited)	RM'000	(Audited)
				RM'000		RM'000
ASSETS
Current assets
Cash and cash equivalents	8		33,965	30,711	6,093	8,185
Trade and other receivables	9		8,672	2,204	8,402	5,295
Income tax recoverable			685	1,413	-	-
Inventories			874	66	-	-
Total current assets			44,196	34,394	14,495	13,480
Non-current assets
Other receivables	9		1,180	878	-	-
Investment in subsidiary			-	-	2,350	2,350
Property, plant and equipment	10		2,515	2,146	-	-
Right-of-use assets			1,036	1,169	-	-
Biological assets	11		8,656	5,619	-	-
Intangible assets	12		470	475	-	-
Total non-current assets			13,857	10,287	2,350	2,350
Total assets			58,053	44,681	16,845	15,830
LIABILITIES
Current liabilities
Trade and other payables	13		3,494	1,187	371	581
Borrowings	14		165	146	-	-
Total current liabilities			3,659	1,333	371	581
Non-current liabilities
Borrowings	14		4,358	1,212	-	-
Deferred income tax liabilities			2,253	1,463	-	-
Total non-current liabilities			6,611	2,675	-	-
Total liabilities			10,270	4,008	371	581
Net assets			47,783	40,673	16,474	15,249
EQUITY
Capital and reserves attributable
to equity holders of the
Company
Share capital	15		15,207	15,207	15,207	15,207
Retained profits	16		22,469	17,128	1,267	42
			37,676	32,335	16,474	15,249
Non-controlling interests			10,107	8,338	-	-
Total equity			47,783	40,673	16,474	15,249

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1. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY Group

					Non-
		Share	Retained	Total	controlling	Total
		capital	profits	interest	equity
FY2021 (Unaudited)	Note	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 August 2020		15,207	17,128	32,335	8,338	40,673
Total comprehensive
income for the financial
year		-	5,341	5,341	2,575	7,916
Dividend declared	17	-	-	-	(806)	(806)
At 31 July 2021		15,207	22,469	37,676	10,107	47,783
FY2020 (Audited)
At 1 August 2019		15,207	16,394	31,601	7,370	38,971
Total comprehensive
income for the financial
year		-	2,203	2,203	1,277	3,480
Dividend declared	17	-	(1,469)	(1,469)	(309)	(1,778)
At 31 July 2020		15,207	17,128	32,335	8,338	40,673

Company
	Share	Retained
	capital	profits	Total
Note	RM'000	RM'000	RM'000
FY2021 (Unaudited)
At 1 August 2020	15,207	42	15,249
Total comprehensive income
for		1,225
the financial year	-		1,225
At 31 July 2021	15,207	1,267	16,474

	Note
FY2020 (Audited)
At 1 August 2019
Total comprehensive loss for
the financial year
Dividend paid	17
At 31 July 2020

Share	Retained
capital	profits	Total
RM'000	RM'000	RM'000
15,207	1,546	16,753
-	(35)	(35)
-	(1,469)	(1,469)
15,207	42	15,249

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