| A1. |
The interim financial report has been prepared in accordance
with MASB26 " Interim Financial Reporting " and paragraph
9.22 of the Bursa Malaysia Securities Berhad Listing Requirements,
and should be read in conjunction with the audited financial
statements of the Group for the financial year ended 31
December 2003.
The accounting policies and methods of computation adopted
by the Group in this interim financial report are consistent
with those adopted in the annual financial statement for
the financial year ended 31 December 2003. |
| A2. |
The report of the auditors of preceding annual financial
statements was not subject to any qualification. |
| A3. |
The results for the current quarter under review were
not materially affected by seasonal or cyclical factors
although the leisure and hospitality industries typically
enjoyed higher patronage/occupancy during holiday seasons.
|
| A4. |
The profit attributable to members of the Company for
the current quarter was augmented by RM8.6 million, contributed
mainly by the gain from disposal of Wonderland Sydney
Theme Park in Australia.
The disposal of Wonderland Sydney for a total consideration
of AUD52.5 million was completed on 22 December 2004.
| |
| Results arising from other investing
activities |
50,329 |
| Tax |
(6,357) |
| Minority interest |
(35,375) |
| |
|
| A5. |
There were no material changes in estimates reported in
prior periods or prior year which may have a material
effect on the amounts reported for the forth quarter ended
31 December 2004. |
| A6. |
There were no issuances, cancellations, repurchases, resale
and repayments of debt and equity securities for the 4th
quarter ended 31 December 2004, except for the issuance
of equity securities pursuant to the Employees' Share
Option Scheme amounting to RM684,500. |
| A7. |
There was no dividend paid during the 4th quarter ended
31 December 2004. |
| A8. |
Segmental results for the period ended 30 September 2004
are as follows:
| |
Property Development
|
Property Investment
|
Leisure |
Hospitality |
Healthcare |
Eliminations
|
Consolidated
|
| |
| BY BUSINESS SEGMENTS |
|
|
|
|
|
|
|
| REVENUE AND EXPENSES |
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
|
| External sales |
626,311 |
107,010 |
92,996 |
127,134 |
72,143 |
|
1,025,593 |
| Inter-segment sales |
216 |
48,565 |
0 |
1,724 |
118 |
(50,623) |
0 |
| Results |
|
|
|
|
|
|
|
| Operating segment results |
162,321 |
51,903 |
(28,228) |
2,868 |
5,316 |
(11,571) |
182,609 |
| Finance costs |
|
|
|
|
|
|
(47,248) |
| Other investing activity results
|
|
|
|
|
|
|
50,329 |
| Share of results
of associated companies |
120
|
|
(297) |
|
|
|
(177) |
| Taxation |
|
|
|
|
|
|
(51,763) |
| Profit after taxation |
|
|
|
|
|
|
133,750 |
| Minority interest |
|
|
|
|
|
|
(67,328) |
| Net profit for the period |
|
| A9. |
The value of property, plant & equipment has been brought
forward without amendment from the previous annual financial
statements. |
| A10. |
There were no material events subsequent to the end of
the period reported on that have not been reflected in
the financial statement for the said period. |
| A11. |
There was no material change in the composition of the
Group for the 3rd quarter ended 30 September 2004. |
| A12. |
There were no material changes in contingent liabilities
since the last annual balance sheet date. There were
no contingent assets.
|
| B1. |
For the current quarter ended 31 December 2004, the
Group registered a revenue of RM255.5 million thus enabling
the Group's revenue for the year to attain the RM1 billion
level.
The revenue of RM255.5 million for the current quarter
represents an increase of 29% over the corresponding
quarter ended 31 December 2003. Profit from operations
after finance cost for the current quarter was RM38.0
million, an increase of 143% over the corresponding
quarter ended 31 December 2003.
All divisions had registered better performance over
the same period last year, led by property development
division which recorded an increase in profits from
operations of about 80%.
|
| B2. |
The revenue achieved for the current quarter was 5% higher
than the previous quarter ended 30 September 2004, whilst
profit from operations after finance cost was better by
21%. The lower profit in the previous quarter was due
to certain provisions made for closure costs following
the cessation of business of the Wonderland Sydney Theme
Park in April 2004.
The Leisure and Hospitality divisions had performed significantly
better during the quarter due to the year end holiday
season. |
| B3. |
The group expects continued earnings growth, generated
by higher turnover from its Property Development division
and complemented further by expected improved performance
in its hospitality, leisure and healthcare divisions.
|
| B4. |
Not applicable. |
| B5. |
The higher effective tax rate for the current year-to-date
was due to profits of subsidiary companies being separately
assessed without relief against losses suffered by other
subsidiary companies.
| |
| |
31/12/2004 |
31/12/2003 |
31/12/2004 |
31/12/2003 |
| |
Current taxation
|
18,470 |
16,879 |
48,425 |
35,134 |
| Associated companies
|
0 |
0 |
0 |
306 |
| Deferred Tax |
(3,730) |
0 |
3,338 |
0 |
| |
|
| B6. |
There were no sales of investments and/or properties of
investment nature for the 4th quarter ended 31 December
2004 except for the disposal of the Wonderland Theme Park
in Australia as mentioned in A4 above. |
| B7. |
There were no purchase or disposal of quoted securities
for the 4th quarter ended 31 December 2004. |
| B8. |
There were no corporate proposal announced for the 4th
quarter ended 31 December 2004. |
| B9. |
The Group borrowings as at
31 December 2004 are as follows:
| |
| |
| Short term borrowings |
51,487 |
3,060 |
54,547 |
| Long term borrowings |
371,709 |
259,482 |
631,191 |
| |
Included in the above are foreign currency borrowings
as follows:
| |
| |
| US Dollar (USD1 = RM3.825) |
0 |
12,542 |
12,542 |
|
| B10. |
There were no financial instruments with off balance sheet
risk as at 24 February 2005. |
| B11. |
As at 24 February 2005, there were no material litigations
since the last balance sheet date. |
| B12. |
The Board of Directors has declared an interim dividend
of 3.5 sen per ordinary share of RM1.00 each less 28%
income tax for the financial year ended 31 December
2004 (2003 : 1sen), which will be paid on a date to
be determined.
|
| B13. |
The calculation of the earnings per share for the Group
is based on profit after taxation and minority interests
less preference shares dividend on the weighted average
number of ordinary shares in issue during the period.
| |
| |
31/12/2004 |
31/12/2003 |
31/12/2004 |
31/12/2003 |
| |
|
|
|
|
|
| Profit attributable to members
of the company |
26,872 |
5,477 |
66,422 |
25,480 |
| Less : Preference share dividends
|
0 |
0 |
0 |
(1,035) |
| Weighted Average Number of Ordinary
Shares |
406,324 |
391,327 |
406,324 |
391,327 |
| Earnings per share ( Basic )
(sen) |
6.61 |
1.40 |
16.35 |
6.25 |
| |
|
|
|
| |
|
|
|
| Profit attributable to members
of the company |
26,872 |
5,477 |
66,422 |
25,480 |
| Less : Preference share dividends
|
0 |
0 |
0 |
(1,035) |
| Weighted Average Number of Ordinary
Shares |
423,786 |
419,045 |
423,786 |
419,045 |
| Earnings per share ( Diluted
) |
6.34 |
1.31 |
15.67 |
5.83 |
|
