Oriental Berhad : Quarterly Report for Q4FY21

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

FINANCIAL REPORT

31 DECEMBER 2021

ORIENTAL HOLDINGS BERHAD

(Registration No. 196301000446 (5286-U))

(Incorporated in Malaysia)

INTERIM FINANCIAL REPORT

31 DECEMBER 2021

	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 DECEMBER 2021

	As at End of		As at Preceding
	Current Quarter		Financial Year End
	31 Dec 2021		31 Dec 2020
	RM'000		RM'000	Changes
	(Unaudited)		(Audited)	%
Assets
Property, plant and equipment	1,915,917	1,931,858	-0.8
Right-of-use assets	328,444	335,357	-2.1
Investment properties	1,095,420	1,109,922	-1.3
Intangible assets	23,059	22,539	2.3
Investments in associates	624,610	600,695	4.0
Other investments	676,390	619,789	9.1
Deferred tax assets	57,531	59,189	-2.8
Inventories	35,941	35,936	0.0
Other receivables	31,141		30,771	1.2
Total non-current assets	4,788,453		4,746,056	0.9
Inventories	238,964	220,360	8.4
Biological assets	15,615	11,793	32.4
Trade and other receivables	361,281	381,787	-5.4
Current tax assets	9,806	22,882	-57.1
Other investments	1,426,930	1,416,252	0.8
Cash and cash equivalents	3,526,049	3,211,313	9.8
Assets classified as held for sale	16,018	-	100.0
Deferred tax assets	58,654		-	100.0
Total current assets	5,653,317		5,264,387	7.4
Total assets	10,441,770	10,010,443	4.3
Equity
Share capital	620,462	620,462	0.0
Reserves	1,272,253	1,224,321	3.9
Retained earnings	4,882,136	4,706,975	3.7
Treasury stocks	(249)		(249)	0.0
Total equity attributable to stockholders of the Company	6,774,602	6,551,509	3.4
Non-controlling interests	977,973		814,476	20.1
Total Equity	7,752,575	7,365,985	5.2
Liabilities
Borrowings	225,100	226,257	-0.5
Lease liabilities	22,389	27,861	-19.6
Contract liabilities	49,498	76,990	-35.7
Retirement benefits	26,235	31,266	-16.1
Deferred tax liabilities	36,250		33,048	9.7
Total non-current liabilities	359,472		395,422	-9.1
Borrowings	1,789,679	1,828,206	-2.1
Lease liabilities	6,302	6,952	-9.3
Current tax liabilities	121,344	42,675	184.3
Trade and other payables	328,196	304,023	8.0
Contract liabilities	22,166	29,958	-26.0
Dividends payable	62,036		37,222	66.7
Total current liabilities	2,329,723		2,249,036	3.6
Total liabilities	2,689,195	2,644,458	1.7
Total equity and liabilities	10,441,770		10,010,443	4.3
Net assets per stock (sen)	1091.99	1056.03	3.4

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 YEAR ENDED 31 DECEMBER 2021

	Individual Quarter			Cumulative Quarters
	Current		Preceding			Current Year	Preceding Year
	Year		Year			To Date		To Date
	Quarter		Quarter		(Four quarters	(Four quarters
	31 Dec 2021		31 Dec 2020		to 31 Dec 2021)	to 31 Dec 2020)
	RM'000		RM'000	Changes		RM'000		RM'000	Changes
	(Unaudited)		(Unaudited)	%		(Unaudited)		(Audited)	%
Revenue	906,420	990,172	-8.5	3,267,903	3,364,446	-2.9
Results from operating activities	163,436	117,648	38.9	581,109	145,558	299.2
Finance costs	(17,610)	(17,361)	-1.4	(27,772)	(30,035)	7.5
Share of profits/ (loss) after tax of equity accounted associates	25,332	17,645	43.6	53,589	(7,629)	802.4
Profit before taxation	171,158	117,932	45.1	606,926	107,894	462.5
Tax expense	(33,297)	649	-5230.5	(108,066)	(34,299)	-215.1
Profit from continuing operations	137,861	118,581	16.3	498,860	73,595	577.8
Other comprehensive income/ (expense), net of tax
Remeasurement of defined benefit liability	3,466		(207)	1774.4		3,466		(207)	1774.4
Foreign currency translation differences for foreign operations :
- gain during the year	9,430		81,612	-88.4		27,352		31,721	-13.8
-reclassification to profit or loss on disposal of a subsidiary	-		(13,564)	100.0		-		(13,564)	100.0
Fair value gain/ (loss) of equity instruments designated at fair	21,790		57,532	-62.1		19,711		(112,696)	117.5
value through other comprehensive income
Share of other comprehensive (expense) /income of equity	(14)		(314)	95.5		3,207		(2,005)	260.0
accounted associates
Other comprehensive income/ (expense) for the period, net
of tax	34,672	125,059	-72.3	53,736	(96,751)	155.5
Total comprehensive income/ (expense) for the period	172,533	243,640	-29.2	552,596	(23,156)	2486.4
Profit/ (Loss) attributable to:
Stockholders of the Company	95,943	100,442	-4.5	321,574	112,130	186.8
Non-controlling interests	41,918	18,139	131.1	177,286	(38,535)	560.1
Profit for the period	137,861	118,581	16.3	498,860	73,595	577.8
Total comprehensive income/ (expense) attributable to:
Stockholders of the Company	133,008	201,199	-33.9	371,980	36,709	913.3
Non-controlling interests	39,525	42,441	-6.9	180,616	(59,865)	401.7
Total comprehensive income/ (expense) for the period	172,533		243,640	-29.2		552,596		(23,156)	2486.4
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)	15.47	16.19	-4.4	51.84	18.07	186.9

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 YEAR ENDED 31 DECEMBER 2021

Individual Quarter	Cumulative Quarters
Current	Preceding	Current Year	Preceding Year
Year	Year	To Date	To Date
Quarter	Quarter	(Four quarters	(Four quarters
31 Dec 2021	31 Dec 2020	to 31 Dec 2021)	to 31 Dec 2020)
RM'000	RM'000	RM'000	RM'000
(Unaudited)	(Unaudited)	(Unaudited)	(Audited)

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

Interest income	(12,172)	(14,335)	(49,799)	(74,614)
Other income including investment income	(3,778)	(1,709)	(28,378)	(10,294)
Interest expense	17,610	17,361	27,772	30,035
Depreciation and amortisation	40,818	36,741	153,032	147,809
Bad debts written off	2,235	360	2,014	4
Write down of inventories	121	1,548	1,185	3,032
Property, plant and equipment write off	120	351	342	414
(Gain)/ Loss on disposal of investments	(168)	(25,898)	150	(25,801)
Gain on disposal of property, plant and equipment	(674)	(1,829)	(3,084)	(2,940)
(Reversal)/ Provision of impairment loss on assets	(7,219)	70,259	(7,341)	70,258
Unrealised foreign exchange (gain)/ loss	(60,206)	(49,166)	(167,835)	65,722
Realised foreign exchange loss/ (gain)	538	5,398	(4,530)	1,514

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

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