Oriental Berhad : Quarterly Report for Q1FY22

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

FINANCIAL REPORT

31 MARCH 2022

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

INTERIM FINANCIAL REPORT

31 MARCH 2022

	Page No.
Condensed Consolidated Statement of Financial Position	1
Condensed Consolidated Statement of Comprehensive Income	2 - 3
Condensed Consolidated Statement of Changes in Equity	4
Condensed Consolidated Statement of Cash Flows	5 - 6
Notes to the Interim Financial Report	7 - 20

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

	As at End of		As at Preceding
	Current Quarter		Financial Year End
	31 Mar 2022		31 Dec 2021
	RM'000		RM'000	Changes
	(Unaudited)		(Audited)	%
Assets
Property, plant and equipment	1,927,759	1,919,410	0.4
Right-of-use assets	326,264	328,170	-0.6
Investment properties	1,108,691	1,095,528	1.2
Intangible assets	23,020	23,059	-0.2
Investments in associates	638,984	624,502	2.3
Other investments	671,553	679,934	-1.2
Deferred tax assets	58,335	57,451	1.5
Inventories	35,887	35,941	-0.2
Other receivables	31,156		31,141	0.0
Total non-current assets	4,821,649		4,795,136	0.6
Inventories	268,585	239,028	12.4
Biological assets	15,662	15,615	0.3
Trade and other receivables	399,208	357,770	11.6
Current tax assets	13,127	13,982	-6.1
Other investments	1,806,240	1,426,929	26.6
Cash and cash equivalents	3,299,750	3,526,066	-6.4
Assets classified as held for sale	-	16,018	-100.0
Deferred tax assets	-		58,655	-100.0
Total current assets	5,802,572		5,654,063	2.6
Total assets	10,624,221	10,449,199	1.7
Equity
Share capital	620,462	620,462	0.0
Reserves	1,334,188	1,275,796	4.6
Retained earnings	5,025,286	4,881,515	2.9
Treasury stocks	(249)		(249)	0.0
Total equity attributable to stockholders of the Company	6,979,687	6,777,524	3.0
Non-controlling interests	1,062,297		980,160	8.4
Total Equity	8,041,984	7,757,684	3.7
Liabilities
Borrowings	149,162	147,829	0.9
Lease liabilities	21,549	22,250	-3.2
Contract liabilities	72,546	47,816	51.7
Retirement benefits	25,816	26,235	-1.6
Deferred tax liabilities	46,864		41,516	12.9
Total non-current liabilities	315,937		285,646	10.6
Borrowings	1,804,720	1,866,950	-3.3
Lease liabilities	4,644	6,031	-23.0
Current tax liabilities	137,701	116,009	18.7
Trade and other payables	316,876	327,572	-3.3
Contract liabilities	2,359	27,271	-91.3
Dividends payable	-		62,036	-100.0
Total current liabilities	2,266,300		2,405,869	-5.8
Total liabilities	2,582,237	2,691,515	-4.1
Total equity and liabilities	10,624,221		10,449,199	1.7
Net assets per stock (sen)	1125.04	1092.46	3.0

The selected explanatory notes form an integral part of, and, should be read in conjunction with, this interim financial report.

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ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	FOR THE PERIOD ENDED 31 MARCH 2022
		Individual Quarter			Cumulative Quarters
		Current		Preceding			Current Year		Preceding Year
		Year		Year			To Date		To Date
		Quarter		Quarter			(One quarter		(One quarter
		31 Mar 2022		31 Mar 2021			to 31 Mar 2022)		to 31 March 2021)
		RM'000		RM'000	Changes	RM'000		RM'000	Changes
		(Unaudited)		(Unaudited)	%		(Unaudited)		(Unaudited)	%
Revenue		939,961		890,296	5.6		939,961		890,296	5.6
Results from operating activities	425,959	207,860	104.9		425,959	207,860	104.9
Finance costs	(3,012)	(2,977)	(1.2)		(3,012)	(2,977)	(1.2)
Share of profits after tax of equity accounted associates	18,016	23,082	(21.9)		18,016	23,082	(21.9)
Profit before taxation	440,963	227,965	93.4		440,963	227,965	93.4
Tax expense	(94,225)	(35,398)	(166.2)		(94,225)	(35,398)	(166.2)
Profit from continuing operations	346,738	192,567	80.1		346,738	192,567	80.1
Other comprehensive income, net of tax
Foreign currency translation differences for foreign operations :
- gain during the period		47,610		48,501	(1.8)		47,610		48,501	(1.8)
Fair value gain of equity instruments designated at fair value		14,024		10,495	33.6		14,024		10,495	33.6
through other comprehensive income
Share of other comprehensive income of equity accounted		-		200	(100.0)		-		200	(100.0)
associates
Other comprehensive income for the period, net of tax
61,634	59,196	4.1		61,634	59,196	4.1
Total comprehensive income for the period
408,372	251,763	62.2		408,372	251,763	62.2
Profit attributable to:
Stockholders of the Company	267,843	122,047	119.5		267,843	122,047	119.5
Non-controlling interests	78,895	70,520	11.9		78,895	70,520	11.9
Profit for the period	346,738	192,567	80.1		346,738	192,567	80.1
Total comprehensive income attributable to:
Stockholders of the Company	326,235	178,379	82.9		326,235	178,379	82.9
Non-controlling interests	82,137	73,384	11.9		82,137	73,384	11.9
Total comprehensive income for the period		408,372		251,763	62.2		408,372		251,763	62.2
Weighted average number of stocks in issue ('000)	620,362	620,362			620,362	620,362
Basic earnings per stock (sen)
(based on the weighted average number of stocks)	43.18	19.67	119.5		43.18	19.67	119.5

The selected explanatory notes form an integral part of, and, should be read in conjunction with, this interim financial report.

2

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 MARCH 2022

Individual Quarter	Cumulative Quarters
Current	Preceding	Current Year	Preceding Year
Year	Year	To Date	To Date
Quarter	Quarter	(One quarter	(One quarter
31 Mar 2022	31 Mar 2021	to 31 Mar 2022) to 31 March 2021)
RM'000	RM'000	RM'000	RM'000
(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)

Included in the Total Comprehensive Expense/Income for the period are the followings :

Interest income	(12,856)	(13,386)	(12,856)	(13,386)
Other income including investment income	(612)	(971)	(612)	(971)
Interest expense	3,012	2,977	3,012	2,977
Depreciation and amortisation	39,278	38,293	39,278	38,293
Bad debts recovered	-	(62)	-	(62)
Write down/ (Reversal of write down) of inventories	189	(131)	189	(131)
Property, plant and equipment write off	84	49	84	49
Loss on disposal of investments	120	401	120	401
Gain on disposal of property, plant and equipment	(211,162)	(1,364)	(211,162)	(1,364)
(Reversal)/ Provision of impairment loss on assets	(139)	300	(139)	300
Unrealised foreign exchange gain	(90,960)	(77,856)	(90,960)	(77,856)
Realised foreign exchange loss/ (gain)	445	(5,133)	445	(5,133)

The selected explanatory notes form an integral part of, and, should be read in conjunction with, this interim financial report.

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