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Interim Report on Consolidated Results for the First Financial Quarter Ended 31 March 2009

Condensed Consolidated Income Statements

  2009
Current quarter
ended 31 Mar
RM’000
2008
Current quarter
ended 31 Mar
RM’000
Revenue 93,865 155,850
Other income 242 999
Operating expenses (99,244) (136,483)
Finance costs (222) (1,315)
(Loss)/Profit before taxation (5,359) 19,051
     
Taxation 145 (2,709)
(Loss)/Profit for the period (5,214) 16,342
     
Attributable to:    
Equity holders of the parent (5,214) 16,342
     
Earnings per share (EPS):    
   a) Basic (sen) (4.93) 15.39
   b) Diluted (sen) (4.93) 15.39

(The Condensed Consolidated Income Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2008)

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Condensed Consolidated Balance Sheet

 
As at
31 Mar 2009
RM’000

As at
31 Dec 2008
RM’000

ASSETS
Non-current Assets
   
Property, plant and equipment 111,999 112,948
Investment properties 2,000
2,000
Prepaid interests in leasehold land 5,013
5,053
Goodwill on consolidation 87 87
Deferred tax assets 160 160
  119,259 120,248
     
Current Assets    
       Inventories 169,687
213,848
       Trade and other receivables 112,550
126,538
       Current tax assets 3,973 3,127
       Cash and bank balances 7,823
5,552
  294,033
349,065
     
TOTAL ASSETS 413,292 469,313
     
EQUITY AND LIABILITIES
Equity attributable to equity holders of the parent
   
Share capital 109,903
109,903
Reserves attributable to capital 18,890
19,113
Retained earnings 220,820
230,797
Total Equity 349,613 359,813
     
Non-current Liabilities    
       Deferred tax liabilities 9,229 9,377
       Long-term provisions 519
559
Total non-current liabilities 9,748
9,936
     
Current Liabilities    
       Trade and other payables 15,228
11,001
       Borrowings 33,940
88,563
       Proposed dividend 4,763 -
       Current tax liabilities - -
Total current liabilities 53,931 99,564
     
TOTAL LIABILITIES 63,679 109,500
     
TOTAL EQUITY AND LIABILITIES 413,292 469,313
     
Net Tangible Assets Per Share (RM) 3.31 3.40
Net Assets Per Share (RM) 3.31 3.40

(The Condensed Consolidated Income Statements should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2008)

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Condensed Consolidated Cash Flow Statements

 
Period ended
31 Mar 2009
RM’000
Period ended
31 Mar 2009
RM’000
Net (Loss)/Profit before tax (5,359) 19,051
 
Adjustments for non-cash flow:-
       Non-cash items 12,234 2,825
       Non-operating items (223) 1,299
       Interest income from operating activities (275) (225)
Operating Profit Before Changes In Working Capital 6,377 22,950
 
Changes In Working Capital:
       Net Change in Current Assets 47,803 (10,551)
       Net Change in Current Liabilities 4,218 (4,856)
       Income Tax Paid (848) (1,484)
       Retirement benefits paid (40) (4)
       Interest income 275 225
       Others - -
Net Cash Generated From / (Used In) Operating Expenses 57,785 6,280
 
Investing Activities:
       Equity Investments - -
       Other Investments (509) (793)
Net Cash Used In Investing Activities (509) (793)
 
Financing Activities:
       Bank Borrowings (53,984) (5,987)
       Others (446) (1,317)
Net Cash Generated From / (Used In) Financing Activities (54,430) (7,304)
 
Net Change in Cash & Cash Equivalents 2,846 (1,817)
 
Cash & Cash Equivalents at beginning of year 4,977 3,879
Cash & Cash Equivalents at end of period 7,823 2,062

(The Condensed Consolidated Income Statements should be read in conjunction with the Audited Financial Statements for the year ended 31December 2008)

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