| 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.
As announced on 19 August 2005, the Company has changed
its financial year-end from 31 December to 30 June. Pursuant
to the change in the financial year-end, comparative figures
for the current quarter and the cumulative period are
not presented.
The figures for "cumulative quarter current year
to date" in the unaudited condensed consolidated
income statement, statement of changes in equity and cash
flow statement are for a period of 6 quarters, i.e. from
1 January 2005 to 30 June 2006 due to the above mentioned
change in the financial year-end. |
| 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. |
There were no unusual items affecting assets, liabilities,
equity, net income or cash flows for the 6th quarter ended
30 June 2006. |
| A5. |
There were no changes in estimates that have a material
effect on the amounts reported for the 6th quarter ended
30 June 2006. |
| A6. |
There were no issuances, cancellations, repurchases, resale
and repayments of debt and equity securities for the 6th
quarter ended 30 June 2006, except for the issuance of
equity securities pursuant to the Employees' Share Option
Scheme amounting to RM956,000. |
| A7. |
During the quarter ended 30 June 2006, a dividend amounting
to RM10,432,435 was paid in respect of the first interim
dividend of 3.5% per ordinary share of RM1.00 each less
28% income tax for the financial period ended 30 June
2006. |
| A8. |
Segmental results for the period ended 30 June 2006 are
as follows:
| |
Property Development
|
Property Investment
|
Leisure |
Hospitality |
Healthcare |
Eliminations
|
Consolidated
|
| |
| BY BUSINESS SEGMENTS |
|
|
|
|
|
|
|
| REVENUE AND EXPENSES |
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
|
| External sales |
960,568 |
168,325 |
103,780 |
228,581 |
129,297 |
|
1,590,551 |
| Inter-segment sales |
45,536 |
75,052 |
340 |
3,928 |
71 |
(124,927) |
0 |
| Total Revenue |
| Results |
|
|
|
|
|
|
|
| Operating segment results |
333,938 |
78,295 |
(14,004) |
10,654 |
8,527 |
|
417,410 |
| Finance costs |
|
|
|
|
|
|
(64,908) |
| Other investing activity results
|
|
|
|
|
|
|
24,396 |
| Share of results of associated
companies and jointly controlled entity |
|
|
|
|
|
|
39,364 |
| Taxation |
|
|
|
|
|
|
(91,985) |
| Profit after taxation |
|
|
|
|
|
|
324,277 |
| Minority interest |
|
|
|
|
|
|
(157,794) |
| 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 6th quarter ended 30 June 2006. |
| A12. |
There were no material changes in contingent liabilities
since the last annual balance sheet date.
There were no contingent assets.
|
| B1. |
The Group registered revenue of RM230.2 million and
profit before taxation of RM65.5 million for the current
quarter ended 30 June 2006, mainly contributed by the
property development segment.
|
| B2. |
The current quarter's revenue of RM230.2 million was 4%
higher than that achieved in the previous quarter of RM220.9
million with higher contribution from all business segments.
However, the profit before taxation of RM65.5 million
was slightly lower compared to the previous quarter which
registered a profit before taxation of RM66.8 million.
Included in the profit before taxation of the previous
quarter was results arising from other investing activities
of RM12.97 million being deemed gain on divestment of
40% equity interest in a subsidiary company and net reversal
of provision for impairment loss by a subsidiary company.
Excluding the effects of the above mentioned results from
other investing activities, the profit before taxation
for the current quarter was higher than the previous quarter,
in tandem with the increased revenue. |
| B3. |
Although market conditions are expected to remain challenging,
the Board is confident that the Group shall continue to
perform satisfactorily in the next financial year.
The property development segment continues to attract
strong demand for its developments at multiple prime locations
and has strong locked-in sales whilst the other segments
are expected to continue with their steady performance.
|
| B4. |
Not applicable. |
| B5. |
The lower effective tax rate for the current year-to-date
was mainly due to recognition of deferred tax assets in
current financial period. The deferred tax assets recognised
arose from availability of probable future taxable profits
to offset against the related tax credits.
| |
| |
30/06/2006 |
30/06/2006 |
| |
Current taxation
|
8,426 |
92,440 |
| Deferred Tax |
130 |
(455) |
| |
|
| B6. |
There were no sales of investments and/or properties of
investment nature for the 6th quarter ended 30 June 2006.
|
| B7. |
There were no purchase or disposal of quoted securities
for the 6th quarter ended 30 June 2006. |
| B8. |
There were no corporate proposal announced for the 6th
quarter ended 30 June 2006. |
| B9. |
The Group borrowings as at
30 June 2006 are as follows:
| |
| |
| Short term borrowings |
45,930 |
2,940 |
48,870 |
| Long term borrowings |
409,721 |
210,874 |
620,595 |
| |
Included in the above are foreign currency borrowings
as follows:
| |
| |
| US Dollar (USD1 = RM3.675) |
0 |
7,640 |
7,640 |
|
| B10. |
There were no financial instruments with off balance sheet
risk as at 29 August 2006. |
| B11. |
As at 29 August 2006, there were no material litigations
since the last balance sheet date. |
| B12. |
For the current financial period, a first interim dividend
of 3.5% per ordinary share of RM1.00 each less 28% income
tax was declared and paid, as mentioned in Note A7 above.
The Board of Directors has declared a second interim
dividend of 4.0% per ordinary share of RM1.00 each less
28% income tax for the financial period ended 30 June
2006.
The interim dividend will be paid on 1 November 2006
to shareholders whose names appear in the Record of
Depositors on 3 October 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 3 October
2006 in respect of transfers; |
| 2. |
Securities deposited into the Depositor’s
Securities Account before 12.30 p.m. on 29 September
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. |
On cumulative basis, a total interim dividends of 7.5%
have been declared for the current financial period
of 18 months ended 30 June 2006 (12 months ended 31
December 2004 : 5.0%).
|
| 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.
| |
| |
30/06/2006 |
30/06/2006 |
| |
|
|
|
| Profit attributable to members
of the company |
23,589 |
166,483 |
| Weighted Average Number of Ordinary
Shares |
414,526 |
413,745 |
| Earnings per share ( Basic )
(sen) |
5.69 |
40.24 |
| |
|
| |
|
| Profit attributable to members
of the company |
23,589 |
166,483 |
| Weighted Average Number of Ordinary
Shares |
418,361 |
417,579 |
| Earnings per share ( Diluted
) (sen) |
5.64 |
39.87 |
|
