Pentamaster International : UNAUDITED FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2021

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PENTAMASTER INTERNATIONAL LIMITED

檳傑科達國際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1665)

UNAUDITED FIRST QUARTERLY RESULTS

ANNOUNCEMENT FOR THE THREE MONTHS ENDED

31 MARCH 2021

The	board (the	"Board")	of	directors ("Directors") of Pentamaster International Limited
(the	"Company")	is pleased	to	announce the unaudited consolidated financial results of the

Company and its subsidiaries (collectively, "we", "us", "our" or the "Group") for the three months ended 31 March 2021 ("1Q2021"), together with the comparative figures for the three months ended 31 March 2020 ("1Q2020") (expressed in Ringgit Malaysia "MYR").

The unaudited first quarterly results of the Group is released in conjunction with the quarterly results announcement of Pentamaster Corporation Berhad, the holding company of the Company in Malaysia pursuant to the Listing Requirements of the Main Market of the Bursa Malaysia Securities Berhad.

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FINANCIAL HIGHLIGHTS

For the three months ended 31 March	2021	2020
	(Unaudited)	(Unaudited)
	MYR'000	MYR'000
Revenue	115,059	100,040
Gross profit	34,835	34,115
Profit for the period	26,509	26,185
Earnings per share (sen)	1.66	1.64
Basic and diluted

• Revenue of the Group was MYR115.1 million, representing an increase of approximately 15.0% over the corresponding period last year.
• Profit for the period stood at MYR26.5 million, representing an increase of approximately 1.2% over the corresponding period last year.
• Cash and bank deposits of MYR293.0 million as at 31 March 2021 against MYR300.3 million as at 31 December 2020.

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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE THREE MONTHS ENDED 31 MARCH 2021

	Individual Quarter		Cumulative Year
	3 Months Ended		Financial Period Ended
	31/3/2021	31/3/2020	31/3/2021	31/3/2020
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	MYR'000		MYR'000		MYR'000		MYR'000
Revenue	115,059	100,040	115,059	100,040
Cost of goods sold	(80,224)	(65,925)	(80,224)	(65,925)
Gross profit	34,835	34,115	34,835	34,115
Other income	10,831	9,540	10,831	9,540
Administrative expenses	(15,141)	(14,056)	(15,141)	(14,056)
Distribution costs	(3,105)	(1,887)	(3,105)	(1,887)
Other operating expenses	(42)		(24)		(42)		(24)
Operating profit	27,378	27,688	27,378	27,688
Finance costs	(24)	(38)	(24)	(38)
Share of results of an associate	(125)		(349)		(125)		(349)
Profit before taxation	27,229	27,301	27,229	27,301
Taxation	(720)		(1,116)		(720)		(1,116)
Profit and total comprehensive	26,509	26,185	26,509	26,185
income for the period
Earnings per share attributable
to owners of the Company (sen):-
- Basic and diluted	1.66	1.64	1.66	1.64

The unaudited condensed consolidated statement of profit or loss and other comprehensive income for the three months ended 31 March 2021 should be read in conjunction with the audited financial statements for the year ended 31 December 2020.

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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

	As at		As at
	31/3/2021	31/12/2020
	(Unaudited)		(Audited)
	MYR'000		MYR'000
ASSETS
Non-current assets
Property, plant and equipment	112,010	114,414
Leasehold land	7,295	7,331
Goodwill	4,495	4,495
Intangible assets	32,087	32,058
Interest in an associate	22,392	7,583
Other receivables, deposits and prepayments	10,966		10,609
	189,245	176,490
Current assets
Inventories	41,640	33,836
Trade receivables	158,356	139,896
Other receivables, deposits and prepayments	4,503	3,560
Amount due from ultimate holding company	29	-
Amount due from related company	33	-
Derivative financial assets	-	3,336
Other investments	889	676
Tax recoverable	1,286	1,202
Cash and cash equivalents	292,988		300,280
	499,724		482,786
Total assets	688,969	659,276

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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2021

	As at		As at
	31/3/2021	31/12/2020
	(Unaudited)		(Audited)
	MYR'000		MYR'000
EQUITY AND LIABILITIES
EQUITY
Share capital	8,054	8,054
Reserves	554,654		525,491
Total equity	562,708	533,545
LIABILITIES
Current liabilities
Trade payables	64,402	62,671
Other payables, accruals and provisions	36,534	37,280
Contract liabilities	14,906	15,471
Amount due to a fellow subsidiary	5	6
Derivative financial liabilities	1,701	-
Bank borrowing	2,875	2,976
Provision for taxation	1,096		744
	121,519	119,148
Non-current liabilities
Deferred income	39	1,746
Deferred tax liabilities	4,703		4,837
	4,742		6,583
Total liabilities	126,261		125,731
Total equity and liabilities	688,969	659,276

The unaudited condensed consolidated statement of financial position as at 31 March 2021 should be read in conjunction with the audited financial statements for the year ended 31 December 2020.

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