Microlink Berhad : • Microlink AR22 Vol2 – Financial Statements

ANNUALREPORT 2022

FINANCIAL STATEMENTS

WHAT'S INSIDE

VOLUME 2

FINANCIAL

STATEMENTS

• Directors' Report

• Statement by Directors 8 Statutory Declaration
  9 Independent Auditors' Report
  14 Statements of Financial Position
  16 Statements of Profit or Loss and other Comprehensive Income 17 Consolidated Statement of Changes in Equity
  18 Statement of Changes in Equity
  19 Statements of Cash Flows
  23 Notes to the Financial Statements
  85 Contact Details of Subsidiaries

1

DIRECTORS' REPORT

The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for the financial year ended 31 March 2022.

PRINCIPAL ACTIVITIES

The Company is principally engaged in investment holding and provision of research and development on information technology solutions to the financial services industry. The principal activities and the details of the subsidiaries are disclosed in Note 8 to the financial statements. There have been no significant changes in the nature of these activities during the financial year.

RESULTS

		Group		Company
		RM		RM
Profit/(Loss) for the financial year		25,459,001		(3,649,634)
Attributable to:
Owners of the parent		25,469,946		(3,649,634)
Non-controlling interests		(10,945)		-
		25,459,001		(3,649,634)

DIVIDENDS

No dividend has been paid, declared or proposed by the Company for the current financial year. The Directors do not propose any dividend in respect of the current financial year.

RESERVES & PROVISIONS

There were no material transfers to or from reserves or provisions during the financial year.

ISSUE OF SHARES & DEBENTURES

During the financial year, the issued and fully paid-up ordinary shares of the Company were increased from 241,290,340 ordinary shares to 1,067,397,460 ordinary shares by way of issuance of 826,107,120 new ordinary shares pursuant to the following:

1. 1,300,000 ordinary shares issued under Employee Share Grant Plan at exercise prices ranging from RM2.2991 to RM2.2539 per ordinary share at no consideration; and
2. On 20 August 2021, 727,771,020 ordinary shares issued under bonus issue on the basis of 3 bonus shares for every 1 existing ordinary shares; and
3. On 28 February 2022, 97,036,100 ordinary shares issued under private placement at price of RM0.55 per ordinary share for cash.

The newly issued ordinary shares rank pari passu in all respects with the existing ordinary shares of the Company. There were no other issues of shares during the financial year.

The Company did not issue any debentures during the financial year.

ANNUAL REPORT 2022