Oriental : Quarterly Report for Q1FY23

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

FINANCIAL REPORT

31 MARCH 2023

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

INTERIM FINANCIAL REPORT

31 MARCH 2023

	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 - 21

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

	As at End of		As at Preceding
	Current Quarter		Financial Year End
	31 Mar 2023		31 Dec 2022
	RM'000		RM'000	Changes
	(Unaudited)		(Audited)	%
Assets
Property, plant and equipment	1,928,116	1,866,845	3.3
Right-of-use assets	350,378	342,952	2.2
Investment properties	1,069,218	1,073,793	-0.4
Intangible assets	21,879	23,254	-5.9
Investments in associates	653,965	631,616	3.5
Other investments	387,080	396,084	-2.3
Deferred tax assets	53,085	53,558	-0.9
Inventories	35,891	35,889	0.0
Other receivables	28,458		33,768	-15.7
Total non-current assets	4,528,070		4,457,759	1.6
Inventories	325,541	288,888	12.7
Biological assets	12,614	12,125	4.0
Trade and other receivables	473,308	431,896	9.6
Current tax assets	16,147	12,781	26.3
Other investments	1,830,185	2,069,327	-11.6
Cash and cash equivalents	3,341,773	3,100,642	7.8
Assets classified as held for sale	29,268		29,572	-1.0
Total current assets	6,028,836		5,945,231	1.4
Total assets	10,556,906	10,402,990	1.5
Equity
Share capital	620,462	620,462	0.0
Reserves	1,337,834	1,274,822	4.9
Retained earnings	5,156,541	5,062,305	1.9
Treasury stocks	(249)		(249)	0.0
Total equity attributable to stockholders of the Company	7,114,588	6,957,340	2.3
Non-controlling interests	1,107,190		1,050,197	5.4
Total Equity	8,221,778	8,007,537	2.7
Liabilities
Borrowings	218,644	176,119	24.1
Lease liabilities	22,290	22,743	-2.0
Contract liabilities	64,447	48,202	33.7
Retirement benefits	25,248	23,790	6.1
Deferred tax liabilities	56,707		57,226	-0.9
Total non-current liabilities	387,336		328,080	18.1
Borrowings	1,568,802	1,678,796	-6.6
Lease liabilities	3,740	4,624	-19.1
Current tax liabilities	30,547	30,969	-1.4
Trade and other payables	342,627	334,138	2.5
Contract liabilities	2,076		18,846	-89.0
Total current liabilities	1,947,792		2,067,373	-5.8
Total liabilities	2,335,128		2,395,453	-2.5
Total equity and liabilities	10,556,906	10,402,990	1.5
Net assets per stock (sen)	1146.79	1121.44	2.3

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

1

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 2023

Individual Quarter		Cumulative Quarters
Current	Preceding		Current Year	Preceding Year
Year	Year		To Date	To Date
Quarter	Quarter		(One quarter	(One quarter
31 Mar 2023	31 Mar 2022		to 31 Mar 2023)	to 31 Mar 2022)
RM'000	RM'000	Changes	RM'000	RM'000	Changes
(Unaudited)	(Unaudited)	%	(Unaudited)	(Unaudited)	%

Revenue

Results from operating activities

Finance costs

Share of profits after tax of equity accounted associates

Profit before taxation

Tax expense

Profit from continuing operations

Other comprehensive income, net of tax

Foreign currency translation differences for foreign operations :

- gain during the period

-reclassification to profit or loss on liquidation of a subsidiary

Fair value gain of equity instruments designated at fair value through other comprehensive income

Other comprehensive income for the period, net of tax

Total comprehensive income for the period

Profit attributable to:

964,409

144,366

(10,093)

18,402

152,675

(21,206)

131,469

84,499

2,409

1,374

88,282

219,751

939,961

425,959

(3,012)

18,016

440,963

(94,225)

346,738

47,610

-

14,024

61,634

408,372

2.6

(66.1)

235.1

2.1

(65.4)

(77.5)

(62.1)

77.5

100.0

(90.2)

43.2

(46.2)

964,409

144,366

(10,093)

18,402

152,675

(21,206)

131,469

84,499

2,409

1,374

88,282

219,751

939,961

425,959

(3,012)

18,016

440,963

(94,225)

346,738

47,610

-

14,024

61,634

408,372

2.6

(66.1)

235.1

2.1

(65.4)

(77.5)

(62.1)

77.5

100.0

(90.2)

43.2

(46.2)

Stockholders of the Company	94,236	267,843	(64.8)	94,236	267,843	(64.8)
Non-controlling interests	37,233	78,895	(52.8)	37,233	78,895	(52.8)
Profit for the period	131,469	346,738	(62.1)	131,469	346,738	(62.1)
Total comprehensive income attributable to:
Stockholders of the Company	157,248	326,235	(51.8)	157,248	326,235	(51.8)
Non-controlling interests	62,503	82,137	(23.9)	62,503	82,137	(23.9)
Total comprehensive income for the period	219,751		408,372	(46.2)	219,751		408,372	(46.2)
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)	15.19	43.18	(64.8)	15.19	43.18	(64.8)

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 2023

Individual Quarter	Cumulative Quarters
Current	Preceding	Current Year	Preceding Year
Year	Year	To Date	To Date
Quarter	Quarter	(One quarter	(One quarter
31 Mar 2023	31 Mar 2022	to 31 Mar 2023)	to 31 Mar 2022)
RM'000	RM'000	RM'000	RM'000
(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)

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

Interest income	(35,484)	(12,856)	(35,484)	(12,856)
Other income including investment income	(695)	(612)	(695)	(612)
Interest expense	10,093	3,012	10,093	3,012
Depreciation and amortisation	37,830	39,278	37,830	39,278
Bad debts written off	15	-	15	-
Write down of inventories	511	189	511	189
Property, plant and equipment write off	2,310	84	2,310	84
Loss on disposal of investments	181	120	181	120
Gain on liquidation of a subsidiary	(3,097)	-	(3,097)	-
Gain on disposal of property, plant and equipment	(2,710)	(211,162)	(2,710)	(211,162)
Provision/ (Reversal) of impairment loss on assets	1,248	(139)	1,248	(139)
Unrealised foreign exchange gain	(25,533)	(90,960)	(25,533)	(90,960)
Realised foreign exchange loss	534	445	534	445

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

3