Sheng Siong : Q2 2022 Financial Statement

SHENG SIONG GROUP LTD.

Condensed Interim Financial Statements

For the Six Months Ended 30 June 2022

Contents
A. Interim Consolidated Statement of Profit or Loss and Other Comprehensive
Income	2
B. Interim Statements of Financial Position	4
C. Interim Statements of Changes in Equity	5
D. Interim Consolidated Statement of Cash Flows	7
E. Notes to the Condensed Interim Financial Statements	8
F. Other Information Required by Listing Rule Appendix 7.2	16

1

SHENG SIONG GROUP LTD.

Condensed Interim Financial Statements

For the Six Months Ended 30 June 2022

1. Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

	Note
Revenue	5
Cost of sales
Gross profit
Other income	6.1
Selling and distribution
expenses
Administrative expenses
Other expenses
Results from operating activities
Finance income	6.1
Finance expenses	6.1
Profit before tax	6.1
Tax expense	7

Profit for the period

Other comprehensive income Item that is or may be reclassified

subsequently to profit or loss: Foreign currency translation

differences - foreign operations

Total comprehensive income for the period

The Group

6 months ended
30 Jun 2022	30 Jun 2021	Change
S$'000	S$'000	+/ (-)
676,751	681,675	(0.7%)
(477,682)	(489,159)	(2.3%)
199,069	192,516	3.4%
5,483	7,546	(27.3%)
(3,934)	(3,560)	10.5%
(115,939)	(113,354)	2.3%
(2,599)	(2,722)	(4.5%)
82,080	80,426	2.1%
793	484	63.8%
(1,468)	(1,078)	36.2%
81,405	79,832	2.0%
(13,903)	(13,741)	1.2%
67,502	66,091	2.1%

(281)	(191)	47.1%
67,221	65,900	2.0%

2

SHENG SIONG GROUP LTD.

Condensed Interim Financial Statements

For the Six Months Ended 30 June 2022

				The Group
			6 months ended
			30 Jun 2022	30 Jun 2021	Change
	Note	S$'000	S$'000	+/ (-)
Profit net of tax for the period
attributable to:
Owners of the Company			67,373	65,934	2.2%
Non-controlling interest			129	157	(17.8%)
Profit after tax			67,502	66,091	2.1%
Total comprehensive income for
the period attributable to:
Owners of the Company			67,205	65,819	2.1%
Non-controlling interest			16	81	(80.2%)
Total comprehensive income			67,221	65,900	2.0%
Earnings per share
Basic and diluted
(cents)	8		4.48	4.39

3

SHENG SIONG GROUP LTD.

Condensed Interim Financial Statements

For the Six Months Ended 30 June 2022

1. Interim Statements of Financial Position

		The Group		The Company
		30 Jun	31 Dec		30 Jun	31 Dec
		2022	2021	2022	2021
	Note	S$'000	S$'000		S$'000	S$'000
Assets
Property, plant and
equipment	12	297,855	302,883	-	-
Right-of-use assets	12	75,533	79,505	-	-
Investment in subsidiaries		-	-		82,261	82,261
Non-current assets		373,388	382,388		82,261	82,261
Inventories		83,732	98,383	-	-
Trade and other receivables		9,383	11,604	201,530	200,721
Cash and cash equivalents		234,270	246,642		50	308
Current assets		327,385	356,629		201,580	201,029
Total assets		700,773	739,017	283,841	283,290
Equity
Share capital	10	235,373	235,373	235,373	235,373
Merger reserve		(68,234)	(68,234)	-	-
Foreign currency translation
reserve		(267)	(98)	-	-
Accumulated profits		267,129	246,365		48,271	47,551
Equity attributable to owners of the		434,001	413,406	283,644	282,924
Company
Non-controlling interest		2,932	2,916		-	-
Total equity		436,933	416,322	283,644	282,924
Liabilities
Lease liabilities	14	44,250	48,945	-	-
Deferred tax liabilities		2,585	3,229		-	-
Non-current liabilities		46,835	52,174		-	-
Trade and other payables		160,342	212,391	195	361
Current tax payable		27,370	25,381	2	5
Term loan	13	-	5,000	-	-
Lease liabilities	14	29,293	27,749		-	-
Current liabilities		217,005	270,521		197	366
Total liabilities		263,840	322,695		197	366
Total equity and liabilities		700,773	739,017		283,841	283,290

4

SHENG SIONG GROUP LTD.

Condensed Interim Financial Statements

For the Six Months Ended 30 June 2022

1. Interim Statements of Changes in Equity

			Attributable to owners of the Company
				Foreign
				currency			Non-
		Share	Merger	translation	Accumulated		Controlling	Total
Group	capital	reserve	reserve	profits	Total	interest	equity
		S$'000	S$'000	S$'000	S$'000	S$'000	S$'000	S$'000
At 1 January 2022	235,373	(68,234)	(98)	246,365	413,406	2,916	416,322
Total comprehensive
income for the period
Profit for the period	-	-	-	67,373	67,373	129	67,502
Other comprehensive
income
Foreign currency
translation differences	-	-	(169)	1	(168)	(113)	(281)
Total comprehensive
income for the period	-	-	(169)	67,374	67,205	16	67,221
Transaction with
owners, recognised
directly in equity
Distribution to owners
of the Company
Dividends paid (Note 9)	-	-	-	(46,610)	(46,610)	-	(46,610)
Total transaction with
owners	-	-	-	(46,610)	(46,610)	-	(46,610)
At 30 June 2022	235,373	(68,234)	(267)	267,129	434,001	2,932	436,933
At 1 January 2021	235,373	(68,234)	3	205,248	372,390	2,709	375,099
Total comprehensive
income for the period
Profit for the period	-	-	-	65,934	65,934	157	66,091
Other comprehensive
income
Foreign currency
translation differences	-	-	(115)	-	(115)	(76)	(191)
Total comprehensive
income for the period	-	-	(115)	65,934	65,819	81	65,900
Transaction with
owners, recognised
directly in equity
Distribution to owners
of the Company
Dividends paid (Note 9)	-	-	-	(45,106)	(45,106)	-	(45,106)
Total transaction with
owners	-	-	-	(45,106)	(45,106)	-	(45,106)
At 30 June 2021		235,373	(68,234)	(112)	226,076	393,103	2,790	395,893

5