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Balance Sheets

  Note 2015
RM'000
2016
RM'000
 
Assets  
Property plant and equipment 3 269,290 276,241  
Investment property 4 1,000 -  
Intangible assets 5 8,810 12,727  
Investment in a subsidiary 6 - -  
Trade and other receivables 7 105,598 101,031  
 
Current tax assets   17,785 17,070  
Inventories 9 103,467 139,101  
Trade and other payables 14 55,765 81,658  
Cash and cash equivalents 10 143,510 114,814  
Total current assets   354,346 106,854  
Total assets   633,446 222,477  
 
Equity  
Share capital 10.1 139,478 69,739  
Reserves   193,483 12,142  
Retained earnings   116,757 111,749  
Equity attributable to owners
of the Company
10 449,718 193,630  
 
Liabilities  
Loans and Borrowings 11 103,809 -  
Deferred tax liabilities 12 5,207 5,500  
Total non-current liabilites   109,016 5,500  
 
Current tax liabilities   - 1,723  
Trade and other payables 13 55,765 21,624  
Loands and Borrowings 11 18,947 -  
Total current liabilities   74,712 23,347  
Total liabilities   183,728 28,847  
Total equity and liabilities   633,446 222,477  

Income Statements

  Note 2015
RM'000
2014
RM'000
 
Revenue 14 269,794 176,961  
Cost of sales   (140,882) (95,328)  
 
Gross profit   128,912 81,633  
Other income   4,635 141  
Distribution and marketing expenses   (43,064) (16,718)  
Administrative expenses   (35,037) (16,572)  
Other expenses   (5,261) (1,710)  
 
Results from operating activities 15 50,185 46,774  
Finance income 16 1,384 165  
Finance cost 17 (3,740) (438)  
 
Profit before tax   47,829 46,501  
Tax expense 19 (11,438) (11,226)  
 
Profit for the year   36,391 35,275  
Foreign currency translation differences for foreign operations   (722) -  
Total comprehensive income for the year attributable to the owners of the company   35,669 35,275  
Basic and diluted earnings per ordinary share (sen) 20 18.05 25.41  

Cash Flow Statements

  Note 2015
RM'000
2014
RM'000
 
Cash flows from operating activities  
Profit before tax   47,829 46,501  
Adjustment for :        
Depreciation of property, plant and equipment 3 21,532 8,268  
Dividends income   - -  
Finance income 16 (1,384) (165)  
Finance cost 17 3,740 438  
Net unrealised foreign exchange gain   (811) (173)  
Provision for warranty   206 348  
Negative goodwill (1,160) - -  
Loss on write off of property, plant and equipment   596 -  
Gain on revaluation of investment property   - -  
(Gain)/loss on disposal of property, plant and equipment   - 7  
 
Operating profit/(loss) before changes in working capital   70,548 55,210  
Changes in working capital:  
Changes in inventories   2,663 (8,313)  
Changes in trade and other receivables   (19,795) (4,929)  
Changes in trade and other payables   (87,885) 4,290  
 
Cash generated from/(used in) operations   (34,469) 46,258  
Interest paid   (3,740) (438)  
Tax paid   (12,667) (9,847)  
Tax refund   - -  
Net cash from/(used in) operating activities   (50,876) 35,973  
 
Cash flow from investing activities  
Acquisition of property, plant and equipment 3 (40,004) (12,427)  
Acquisition of intangible assets 5 (1,413) -  
Acquisition of subsidiaries 27.1 (108,849) -  
Costs associated to conversion of land to industrial status   - -  
Dividends received   - -  
Interest received 16 1,384 165  
Proceeds from disposal of plant and equipment   - 7  
Proceeds from disposal of Brand   1,600 -  
Net cash (used in)/generated from investing activities   (147,282) (12,255)  
 
Cash flow from financing activities  
Dividends paid to owners of the Company 21 (31,383) (24,294)  
Drawdown of borrowing   245,490 -  
Proceeds from issue of ordinary shares   251,063 -  
Payment of expenses relating to issuance of ordinary shares   (1,425) -  
Proceeds from sale of treasury shares   2,172 -  
Payment of expenses relating to re-issuance of treasury shares   (8) -  
Repayment to loan and borrowing   (141,822) -  
Net cash used in financing activities   324,087 (24,294)  
 
Exchange differences on translation of financial statement of foreign operation   (722) -  
Net increase/(decrease) in cash and cash equivalents   125,207 (576)  
Cash and cash equivalent of 1 January   18,303 18,879  
Cash and cash equivalent of 31 December (i) 143,510 18,303  

Balance Sheets

  Note 2015
RM'000
2014
RM'000
2013
RM'000
Assets  
Property plant and equipment 3 - - -
Investment property 4 - - -
Intangible asset 5 - - -
Investment in subsidiary 6 208,505 40,187 40,187
Trade and other receivables 7 151,172 62,503 62,749
Total non-current assets   359,677 102,690 102,936
 
Current tax assets   514 26 -
Inventories 8 - - -
Trade and other receivables 7 2,856 637 2,000
Cash and cash equivalents 9 101,945 130 467
Total current assets   105,315 793 2,467
Total assets   464,992 103,483 105,403
 
Equity  
Share capital 10.1 139,478 69,739 69,739
Reserves   194,205 12,142 12,142
Retained earnings   194,205 20,886 22,458
Equity attributable to owners
of the Company
10 353,024 102,767 104,339
 
Liabilities  
Loans and Borrowings 11 103,809 - -
Deferred tax liabilities 12 - - -
Total non-current liabilities   103,809 - -
 
Current tax liabilities   - - 13
Trade and other payables 13 170 716 1,051
Loans and Borrowings 11 7,989 - -
Total current liabilities   8,159 716 1,064
Total liabilities   111,968 716 1,064
Total equity and liabilities   464,992 103,483 105,403

Income Statements

  Note 2015
RM'000
2014
RM'000
2013
RM'000
Revenue 14 28,500 22,440 23,205
Cost of sales     - -
 
Gross profit   28,500 22,440 23,205
Other income   2,750 - -
Distribution and marketing expenses   - - -
Administrative expenses   (3,131) (1,579) (543)
Other expenses   - - -
 
Results from operating activities 15 28,119 20,861 22,662
Finance income 16 5,202 2,453 2,542
Finance costs 17 (2,928) (2) (1)
 
Profit before tax   30,393 23,312 25,203
Tax expense 19 (555) (590) (629)
 
Profit for the year   29,838 22,722 24,574
Total comprehensive income for the year attributable to owners of the Company   29,838 22,722 24,574

Cash Flow Statements

  Note 2015
RM'000

2014
RM'000

2013
RM'000
Cash flow from operating activities  
Profit before tax   30,393 23,312 25,203
Adjustments for:  
Depreciation for property, plant and equipment 3 - - -
Dividends income   (28,500) (22,440) (23,205)
Finance Income 16 (5,202) (2,453) (2,542)
Finance Cost 17 2,928 2 1
Gain on disposal of asset held for sale     - -
Net realised foreign exchange loss     - -
Net unrealised foreign exchange (gain)/loss     - -
Gain on revaluation of investment property     - -
Loss on disposal of property, plant and equipment     - -
 
Operating profit/(loss) before changes in working capital   (381) (1,579) (543)
Changes in inventories   - - -
Changes in trade and other receivables   (90,888) 1,609 (4,854)
Changes in trade and other payables   (546) (335) 102
 
Cash generated from/(used in) operations   (91,815) (305) (5,295)
Interest paid   (2,928) (2) (1)
Tax paid   (1,043) (629) (572)
Tax refund     - 54
Net cash from/(used in) operating activities   (95,786) (936) (5,814)
 
Cash flow from investing activities  
Acquisition of property, plant and equipment 3   - -
Cost associated to conversion of land to industrial status     - -
Acquisition of subsidiaries 27.1 (168,318) - -
Dividends received   28,500 22,440 23,205
Interest received   5,202 2,453 2,542
Proceeds from disposal of assest held for sale   - - -
Proceeds from disposal of plant and equipment   - - -
Net cash (used in)/generated from investing activities   (134,616) 24,893 25,747
 
Cash flow from financing activites  
Dividends paid to owners of the Company 20 (31,383) (24,294) (20,129)
Drawdown of borrowing   245,123    
Proceeds from issue of ordinary shares   251,063 -  
Payment of expenses relating to issuance of ordinary shares   (1,425) -  
Proceeds from sale of treasury shares   2,172 -  
Payment of expenses relating to re-issuance of treasury shares   (8)    
Repayment to loans and borrowing   (133,325) - -
Net cash used in financing activities   332,217 (24,294) (20,129)
 
Exchange differences on translation of financial statement of foreign operation   - -  
Net increase/(decrease) in cash and cash equivalent     (337) (196)
Net increase/(decrease) in cash
and cash equivalents
  101,815 - -
Cash and cash equivalent of 1 January   130 467 663
Cash and cash equivalent of 31 December 9 101,945 130 467

Last updated : 13 Dec 2017

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