| A1. |
The interim financial report has been prepared in accordance
with FRS134 " 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 2004.
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 2004. |
| 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 the year end
holiday season. |
| A4. |
There were no unusual items affecting assets, liabilities,
equity, net income or cashflows for the 4th quarter ended
31 December 2005. |
| A5. |
There were no changes in estimates that have a material
effect on the amounts reported for the 4th quarter ended
31 December 2005. |
| A6. |
There were no issuances, cancellations, repurchases, resale
and repayments of debt and equity securities for the 4th
quarter ended 31 December 2005, except for the issuance
of equity securities pursuant to the Employees' Share
Option Scheme amounting to RM247,500. |
| A7. |
There was no dividend paid during the 4th quarter ended
31 December 2005. |
| A8. |
Segmental results for the period ended 31 December 2005
are as follows:
| |
Property Development
|
Property Investment
|
Leisure |
Hospitality |
Healthcare |
Eliminations
|
Consolidated
|
| |
| BY BUSINESS SEGMENTS |
|
|
|
|
|
|
|
| REVENUE AND EXPENSES |
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
|
| External sales |
720,099 |
112,208 |
68,055 |
155,159 |
83,861 |
|
1,139,382 |
| Inter-segment sales |
45,473 |
49,784 |
0 |
2,633 |
39 |
(97,929) |
0 |
| Total Revenue |
| Results |
|
|
|
|
|
|
|
| Operating segment results |
243,764 |
53,738 |
(4,571) |
3,584 |
6,032 |
- |
302,547 |
| Finance costs |
|
|
|
|
|
|
(45,411) |
| Other investing activity results
|
|
|
|
|
|
|
10,973 |
| Share of results of associated
companies |
|
|
|
|
|
|
15,888 |
| Taxation |
|
|
|
|
|
|
(80,895) |
| Profit after taxation |
|
|
|
|
|
|
203,102 |
| Minority interest |
|
|
|
|
|
|
(93,401) |
| 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 except for
the completion of the subscription of 20% equity interest
in Sunway South Quay Sdn. Bhd. for RM5.88 million and
the provision of Musyarakah Capital amounting to RM63.751
million by Kuwait Finance House (Malaysia) Berhad on 4th
Jan 2006.
Sunway South Quay Sdn. Bhd. Is a wholly owned subsidiary
of Sunway Lagoon Sdn. Bhd. which in turn is a 51% owned
subsidiary of Sunway City Berhad. |
| A11. |
There was no material change in the composition of the
Group for the 4th quarter ended 31 December 2005. |
| A12. |
There were no material changes in contingent liabilities
since the last annual balance sheet date.
There were no contingent assets.
|
| B1. |
The Group recorded a revenue of RM317.8 million for
the current quarter ended 31 December 2005, an increase
of 24% over the corresponding quarter ended 31 December
2004. All divisions had registered higher revenue, led
by property development division with an increase of
35% mainly contributed by the disposal of our 50% interest
amounting to RM59 million in a parcel of development
land at Wonderland Business Park, Australia pursuant
to a Co-venture Agreement with Australand announced
on 28 December 2005.
Profit before taxation achieved during the current quarter
was RM90.6 million, a slight increase of 2.6% over the
same quarter last year. The results for the current
quarter and the corresponding quarter last year were
respectively augmented by a gain of RM52.9 million from
the disposal of land mentioned in the above paragraph
and RM50.3 million from the disposal of the Wonderland
Sydney Theme Park in Australia.
|
| B2. |
The current quarter's revenue of RM317.8 million was 22%
higher than the 3rd quarter's revenue of RM259.6 million
whilst the profit before taxation of RM90.6 million represented
an increase of 47% over the 3rd quarter's profit before
taxation of RM61.6 million. The better performance during
the quarter was mainly attributable to the disposal of
land in Australia as mentioned in B1 above. |
| B3. |
Barring unforeseen circumstances, the Group is confident
of continuing the same level of profit performance for
the remaining 6 months of the current financial year.
|
| 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.
| |
| |
31/12/2005 |
31/12/2004 |
31/12/2005 |
31/12/2004 |
| |
Current taxation
|
21,115 |
18,470 |
69,156 |
45,674 |
| Deferred Tax |
1,394 |
(3,730) |
11,739 |
(3,036) |
| |
|
| B6. |
There were no sales of investments and/or properties of
investment nature for the 4th quarter ended 31 December
2005. |
| B7. |
There were no purchase or disposal of quoted securities
for the 4th quarter ended 31 December 2005. |
| B8. |
There were no corporate proposal announced for
the 4th quarter ended 31 December 2005. |
| B9. |
The Group borrowings as at 31 December 2005 are as follows:
| |
| |
| Short term borrowings |
74,570 |
3,024 |
77,594 |
| Long term borrowings |
310,835 |
253,967 |
564,802 |
| |
Included in the above are foreign currency borrowings
as follows:
| |
| |
| US Dollar (USD1 = RM3.780) |
0 |
9,371 |
9,371 |
|
| B10. |
There were no financial instruments with off balance sheet
risk as at 21 February 2006. |
| B11. |
As at 21 February 2006, there were no material litigations
since the last balance sheet date. |
| B12. |
"The Board of Directors has declared an interim
dividend of 3.5% per ordinary share of RM1.00 each less
28% income tax for the financial period ending 30 June
2006 (2004: 3.5%).
The interim dividend will be paid on 28 April 2006 to
shareholders whose names appear in the Record of Depositors
on 31 March 2006.
A shareholder shall qualify for entitlement to the dividend
only in respect of:-
1. Securities transferred into the Depositor’s
Securities Account before 4.00 p.m. on 31 March 2006
in respect of transfers;
2. Securities deposited into the Depositor’s Securities
Account before 12.30 p.m. on 29 March 2006 in respect
of securities exempted from mandatory deposit; and
3. Securities bought on Bursa Malaysia Securities Berhad
on a cum entitlement basis according to the Rules of
Bursa Malaysia Securities Berhad."
|
| B13. |
The calculation of the earnings per share for the Group
is based on profit after taxation and minority interests
on the weighted average number of ordinary shares in issue
during the period.
| |
| |
31/12/2005 |
31/12/2004 |
31/12/2005 |
31/12/2004 |
| |
|
|
|
|
|
| Profit attributable to members
of the company |
24,207 |
26,872 |
109,701 |
66,906 |
| Weighted Average Number of Ordinary
Shares |
412,221 |
406,324 |
412,221 |
406,324 |
| Earnings per share ( Basic )
(sen) |
5.87 |
6.61 |
26.61 |
16.47 |
| |
|
|
|
| |
|
|
|
| Profit attributable to members
of the company |
24,207 |
26,872 |
109,701 |
66,906 |
| Weighted Average Number of Ordinary
Shares |
414,990 |
423,786 |
414,990 |
422,198 |
| Earnings per share ( Diluted
) (sen) |
5.83 |
6.34 |
26.43 |
15.85 |
|
