LPI Capital Bhd : First Quarter Financial Statements For Year 2022

LPI CAPITAL BHD

• 1 Revenue

• 2 Profit before tax

• 3 Profit for the period

• 4 Profit attributable to ordinary equity holders of the parent

• 5 Basic earnings per share (sen)

• 6 Proposed/ declared dividend per share (sen)

  SUMMARY OF THE KEY FINANCIAL INFORMATION FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2022

  (the figures have not been audited)

  INDIVIDUAL PERIOD CURRENT PRECEDING YEARCUMULATIVE PERIOD CURRENT PRECEDING YEAR

  YEAR CORRESPONDING	YEAR	CORRESPONDING
  QUARTER QUARTER	TO DATE	PERIOD
  ENDED ENDED	ENDED	ENDED
  31/03/2022 31/03/2021	31/03/2022	31/03/2021
  RM'000 RM'000	RM'000	RM'000
  397,739	440,786
  75,768	98,148
  61,528	82,310
  61,528	82,310
  15.44	20.66
  0.00	0.00

  397,739 440,786

  75,768 98,148

  61,528 82,310

  61,528 82,310

  15.44 20.66

  0.00 0.00

• 7 Net assets per share attributable to ordinary equity holders of the parent (RM)

AS AT END OF CURRENT	AS AT PRECEDING
QUARTER	FINANCIAL YEAR END
5.3402	5.3532

1

LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss for the Quarter Ended 31 March 2022 - Unaudited

Current	Preceding Year
Year	Corresponding	Year	Corresponding
Quarter	Quarter	To Date	Period
Ended	Ended	Ended	Ended
31.03.2022	31.03.2021	31.03.2022	31.03.2021
RM'000	RM'000	RM'000	RM'000
Operating revenue	397,739	440,786	397,739	440,786
Gross written premiums	476,582	470,711	476,582	470,711
Change in unearned premiums provision	(107,557)	(73,209)	(107,557)	(73,209)
Gross earned premiums	369,025	397,502	369,025	397,502
Gross written premiums ceded to reinsurers	(204,962)	(175,289)	(204,962)	(175,289)
Change in unearned premiums provision	53,132	30,278	53,132	30,278
Premiums ceded to reinsurers	(151,830)	(145,011)	(151,830)	(145,011)
Net earned premiums	217,195	252,491	217,195	252,491
Investment income	28,714	43,284	28,714	43,284
Realised gains	5	-	5	-
Fair value gains	393	679	393	679
Commission income	30,343	30,210	30,343	30,210
Other operating income	722	754	722	754
Other income	60,177	74,927	60,177	74,927
Gross claims paid	(132,268)	(159,286)	(132,268)	(159,286)
Claims ceded to reinsurers	54,870	63,563	54,870	63,563
Gross change in claims liabilities	(190,797)	(115,014)	(190,797)	(115,014)
Change in claims liabilities ceded to reinsurers	166,367	112,277	166,367	112,277
Net claims incurred	(101,828)	(98,460)	(101,828)	(98,460)
Fair value losses	(4,373)	(38,134)	(4,373)	(38,134)
Commission expense	(37,432)	(42,243)	(37,432)	(42,243)
Management expenses	(56,736)	(50,048)	(56,736)	(50,048)
Net impairment loss on insurance receivables	(890)	(1,204)	(890)	(1,204)
Other operating expense	(203)	-	(203)	-
Other expenses	(99,634)	(131,629)	(99,634)	(131,629)
Operating profit	75,910	97,329	75,910	97,329
Finance cost	(326)	(431)	(326)	(431)
Share of profit after tax of equity accounted
associated company	184	1,250	184	1,250
Profit before tax	75,768	98,148	75,768	98,148
Tax expense	(14,240)	(15,838)	(14,240)	(15,838)
Profit for the period	61,528	82,310	61,528	82,310
Profit attributable to:
Owners of the Company	61,528	82,310	61,528	82,310
Earnings per ordinary share (sen)
- Basic	15.44	20.66	15.44	20.66
- Diluted	N/A	N/A	N/A	N/A

Cumulative Period Current Preceding Year

N/A -

Not Applicable.

Individual Period

Note :

The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 31 December 2021.

2

LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Quarter Ended 31 March 2022 - Unaudited

Individual Period

Cumulative Period

Current	Preceding Year	Current	Preceding Year
Year	Corresponding	Year	Corresponding
Quarter	Quarter	To Date	Period
Ended	Ended	Ended	Ended
31.03.2022	31.03.2021	31.03.2022	31.03.2021
RM'000	RM'000	RM'000	RM'000
Profit for the period	61,528	82,310	61,528	82,310
Other comprehensive income
Items that are or may be reclassified subsequently
to profit or loss
Foreign currency translation differences for foreign operation	603	1,089	603	1,089
Items that will not be reclassified to profit or loss
Net gains on investments in equity instruments designated at
fair value through other comprehensive income	112,338	17,612	112,338	17,612
Income tax relating to these items	(696)	(102)	(696)	(102)
Total other comprehensive income for the period, net of tax	112,245	18,599	112,245	18,599
Total comprehensive income for the period attributable to
owners of the Company	173,773	100,909	173,773	100,909

Note : The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Financial

Report for the year ended 31 December 2021.

3

LPI CAPITAL BHD

Condensed Consolidated Statement of Financial Position As At 31 March 2022 - Unaudited

As At	As At
31.03.2022	31.12.2021
RM'000	RM'000
Assets
Plant and equipment	5,570	4,717
Right-of-use assets	46,384	47,821
Investment properties	27,404	27,316
Intangible assets	8,086	8,401
Investment in an associated company	39,823	39,446
Other investments	2,191,541	2,169,029
Fair value through other comprehensive income	1,028,775	916,424
Fair value through profit or loss	1,032,974	1,137,794
Amortised cost	129,792	114,811
Deferred tax assets	-	7,061
Reinsurance assets	1,491,583	1,271,952
Loans and receivables, excluding
insurance receivables	958,847	1,007,396
Insurance receivables	250,522	178,160
Deferred acquisition costs	46,875	45,605
Cash and cash equivalents	132,037	87,900
Total assets	5,198,672	4,894,804
Equity
Share capital	398,383	398,383
Reserves	1,737,140	1,742,639
Total equity	2,135,523	2,141,022
Liabilities
Insurance contract liabilities	2,746,903	2,448,068
Deferred tax liabilities	908	-
Lease liabilities	48,234	49,630
Insurance payables	150,597	120,630
Other payables	108,465	110,573
Current tax payables	8,042	24,881
Total liabilities	3,063,149	2,753,782
Total equity and liabilities	5,198,672	4,894,804

Note : The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 31 December 2021.

4

LPI CAPITAL BHD

Condensed Consolidated Statement of Changes in Equity for the Period Ended 31 March 2022 - Unaudited

Non-distributableShare capital RM'000

Foreign currency translation reserve RM'000

DistributableFair value reserve RM'000

Retained earnings RM'000

Total RM'000

3 Months Period Ended 31 March 2022

At 1 January 2022

Foreign currency translation differences for foreign operation Net gains on investments in equity instruments designated at fair value through other comprehensive income Total other comprehensive income for the period Profit for the period

Total comprehensive income for the period Distributions to owners of the Company Dividends to owners of the Company

Total transaction with owners of the Company At 31 March 2022

- - - - - - 398,383

- - 26,312

- - 868,623

(179,272) (179,272)

(179,272) (179,272)

842,205

2,135,523

5