Silverlake Axis : SAL Group Announcement for Half Yearly Results FY2022 Silverlake Q2 FY2022 Press Release

SILVERLAKE AXIS LTD.

(Company Registration No. 202133173M)

(Registered in Singapore)

Condensed Interim Consolidated

Financial Statements

for the six months ended 31 December 2021

Table of Contents

1. Condensed Interim Consolidated Income Statement.….............................. 1
2. Condensed Interim Consolidated Statement of Comprehensive Income…. 2
3. Condensed Interim Statements of Financial Position.….............................. 3
4. Condensed Interim Statements of Changes in Equity.…............................. 5
5. Condensed Interim Consolidated Statement of Cash Flows.…................... 8

F.	Notes to the Condensed Interim Consolidated Financial Statements………	10
G.	Other Information required by Listing Rule Appendix 7.2…..........................	26

SILVERLAKE AXIS LTD.

(Company Registration No. 202133173M)

(Registered in Singapore)

A. Condensed Interim Consolidated Income Statement

			Group
		6 months ended 31 December
		2021	2020	Change
	Note	RM	RM	%
			Restated
			(Note 21)
Revenue	4	358,522,508	308,359,612	16
Cost of sales		(142,053,924)	(122,055,465)	16
Gross profit		216,468,584	186,304,147	16
Other items of income
Finance income		1,409,975	718,842	96
Other income		1,686,387	8,296,237	(80)
Other items of expenses
Selling and distribution costs		(17,769,492)	(15,748,604)	13
Administrative expenses		(69,128,920)	(67,101,995)	3
Finance costs		(1,539,370)	(12,241,738)	(87)
Share of loss of a joint venture		-	(565)	(100)
Profit before tax	5	131,127,164	100,226,324	31
Income tax expense	6	(36,374,984)	(32,699,661)	11
Profit for the period		94,752,180	67,526,663	40
Profit for the period attributable to:
Owners of the parent		94,747,446	67,529,479	40
Non-controlling interests		4,734	(2,816)	(268)
		94,752,180	67,526,663	40
Earnings per share attributable to the owners of the parent:
- Basic (sen)	7	3.54	2.62	35
- Diluted (sen)	7	3.53	2.51	41

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SILVERLAKE AXIS LTD.

(Company Registration No. 202133173M)

(Registered in Singapore)

B. Condensed Interim Consolidated Statement of Comprehensive Income

			Group
		6 months ended 31 December
		2021	2020	Change
		RM	RM	%
Profit for the period		94,752,180	67,526,663	40
Other comprehensive loss:
Items that may be reclassified to profit or loss in the subsequent
periods:
- Foreign currency translation loss		(4,786,660)	(24,089,217)	(80)
- Share of foreign currency translation loss of a joint venture		-	(22)	(100)
		(4,786,660)	(24,089,239)	(80)
Items that will not be reclassified to profit or loss in the subsequent
periods:
- Fair value gain/(loss) on financial assets - quoted equity shares		6,021,487	(17,178,588)	(135)
- Deferred tax relating to fair value (gain)/loss on financial
assets - quoted equity shares		(567,860)	1,781,344	(132)
- Deferred tax relating to actuarial gain on defined benefit
plans		(76,851)	(15,487)	396
		5,376,776	(15,412,731)	(135)
Other comprehensive income/(loss) for the period, net of tax		590,116	(39,501,970)	(101)
Total comprehensive income for the period		95,342,296	28,024,693	240
Total comprehensive income for the period attributable to:
Owners of the parent		95,337,562	28,027,509	240
Non-controlling interests		4,734	(2,816)	(268)
		95,342,296	28,024,693	240

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SILVERLAKE AXIS LTD.

(Company Registration No. 202133173M)

(Registered in Singapore)

C. Condensed Interim Statements of Financial Position

		Group	Company
		31 December 2021	30 June 2021	31 December 2021	30 June 2021
	Note	RM	RM	RM	RM
ASSETS
Non-current assets
Property, plant and equipment		11,134,449	11,592,903	15,084	1,936
Right-of-use assets		20,904,246	26,071,251	-	-
Intangible assets		324,517,043	317,327,488	-	-
Investments in subsidiaries	8	-	-	2,060,792,258	2,060,792,258
Financial assets at fair value through other
comprehensive income - quoted equity shares		945,000	-	-	-
Deferred tax assets		52,714,047	60,210,484	-	-
		410,214,785	415,202,126	2,060,807,342	2,060,794,194
Current assets
Inventories		565,592	622,071	-	-
Trade and other receivables	9	153,274,251	138,917,765	2,969	3,553
Contract assets	10	36,205,682	58,594,091	-	-
Prepayments		3,019,182	3,340,056	58,243	112,210
Amounts due from subsidiaries		-	-	203,960,796	203,662,763
Amounts due from related parties		9,630,460	8,035,057	-	-
Loans to subsidiaries		-	-	-	29,157,975
Tax recoverable		6,913,239	5,854,048	-	-
Financial assets at fair value through other
comprehensive income - quoted equity shares		294,053,642	288,154,976	-	-
Financial assets at fair value through profit or loss
- money market fund		46,337,948	27,665,942	-	-
Derivative asset	11	752,296	752,296	752,296	752,296
Cash and bank balances		501,542,278	417,118,185	99,024,065	72,936,631
		1,052,294,570	949,054,487	303,798,369	306,625,428
Total assets		1,462,509,355	1,364,256,613	2,364,605,711	2,367,419,622
EQUITY AND LIABILITIES
Equity
Share capital	13(b)	1,845,200,087	191,040,654	1,845,200,087	191,040,654
Share premium	13(c)	-	186,497,272	-	1,654,159,433
Treasury shares	13(e)	(25,769,645)	(25,769,645)	(25,769,645)	(25,769,645)
Foreign currency translation reserve		26,242,814	31,029,474	12,090,542	12,090,091
Capital reserve		466,828	466,828	-	-
Statutory reserve		141,159	141,159	-	-
Performance share plan reserve		5,177,101	-	5,177,101	-
Fair value reserve of financial assets at fair value
through other comprehensive income		(24,128,415)	(29,582,042)	-	-
Merger deficit	14	(1,943,942,990)	(476,280,829)	-	-
Retained profits		1,228,600,479	1,176,873,429	525,094,290	532,259,060
Equity attributable to owners of the parent		1,111,987,418	1,054,416,300	2,361,792,375	2,363,779,593
Non-controlling interests		56,922	52,188	-	-
Total equity		1,112,044,340	1,054,468,488	2,361,792,375	2,363,779,593

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SILVERLAKE AXIS LTD.

(Company Registration No. 202133173M)

(Registered in Singapore)

C. Condensed Interim Statements of Financial Position (cont'd)

		Group	Company
		31 December 2021	30 June 2021	31 December 2021	30 June 2021
	Note	RM	RM	RM	RM
EQUITY AND LIABILITIES (cont'd)
Non-current liabilities
Loans and borrowings	15	12,493,247	16,831,002	-	-
Deferred tax liabilities		53,249,947	50,167,076	-	-
Provision for defined benefit liabilities		12,324,741	11,886,913	-	-
		78,067,935	78,884,991	-	-
Current liabilities
Trade and other payables		74,643,779	76,922,903	1,629,363	1,875,542
Contract liabilities	10	150,993,025	108,820,801	-	-
Loans and borrowings	15	8,576,644	9,380,879	-	-
Put liability	16	19,778,865	18,659,307	-	-
Provision for defined benefit liabilities		112,895	116,680	-	-
Amounts due to subsidiaries		-	-	1,183,973	1,640,659
Amounts due to related parties		763,345	1,367,305	-	123,828
Tax payable		17,528,527	15,635,259	-	-
		272,397,080	230,903,134	2,813,336	3,640,029
Total liabilities		350,465,015	309,788,125	2,813,336	3,640,029
Net current assets		779,897,490	718,151,353	300,985,033	302,985,399
Total equity and liabilities		1,462,509,355	1,364,256,613	2,364,605,711	2,367,419,622

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