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HEITECH PADU BERHAD CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE PERIOD ENDED 30 SEPTEMBER 2011 1000 1000 Unaudited Audited 2011 2010 As at 30 As at 31 September December RM'000 RM'000 NON-CURRENT ASSETS Property, plant & equipment 69,544 71,675 Intangible assets 18,341 15,101 Investment in associate companies 16,766 2,855 Other investment 7,647 7,912 Trade receivables 101,240 113,260 Deferred tax assets 104 24 TOTAL NON-CURRENT ASSETS CURRENT ASSETS Inventories Trade and other receivables Tax recoverable Cash and bank balances TOTAL CURRENT ASSETS CURRENT LIABILITIES Trade and other payables Tax payable Short term borrowings Hire purchase payables TOTAL CURRENT LIABILITIES NET CURRENT ASSETS 213,642 210,827
FINANCED BY: Share capital Share premium Share option reserve Other reserve Retained profits Shareholders' equity Minority interests Shareholders' Funds Long Term Liabilities Long term borrowings Hire purchase creditors Deferred tax liabilities Non-current liabilities
Net asset per share attributable to ordinary equity holders of the parent (RM)
1.76
1.86
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited Accounts for the year ended 31/12/2010. The document forms part of quarterly announcement for quarter ended 30/9/2011
Appendix 1C
HEITECH PADU BERHAD UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 1000 1000 FOR THE PERIOD ENDED 30 SEPTEMBER 2011 a) Unaudited Condensed Consolidated Income Statement 2011 2010 Individual Quarter Current quarter ended 30 September RM'000 Revenue Other Income Total Income Staff Cost Purchase of Hardware and Software Leaseline Rental Maintenance Cost Bulk Mailing Operating Cost Depreciation Television Program Production Cost Professional Fees Project Implementation Cost Other Operating Expenses Total Operating Expenditure Profit From Operations Finance Cost Share of Results of Associated Companies Profit Before Taxation Taxation Profit for the period Profit attributable to: Equity holders of the Parent Minority Interest 76,838 (704) 76,134 (18,743) 1,795 (9,322) (18,317) (2,363) (2,954) (2,169) (6,885) 249 (15,360) (74,069) 2,065 (1,501) 597 1,161 (468) 693 Comparative quarter ended 30 September RM'000 125,165 1,115 126,280 (17,030) (32,999) (12,432) (18,483) (2,033) (5,454) (1,009) (8,021) (8,802) (14,129) (120,392) 5,888 (4,059) (93) 1,736 (641) 1,095
1000
1000
2011 2010 Cumulative Quarter 9 months cumulative to date RM'000 245,463 6,215 251,678 (59,863) (11,661) (32,501) (44,789) (6,621) (8,884) (6,481) (28,793) (2,559) (44,052) (246,204) 5,474 (3,528) 153 2,099 (1,018) 1,081 Comparative 9 months cumulative to date RM'000 285,086 2,411 287,497 (46,939) (40,600) (40,013) (59,745) (5,306) (12,219) (4,137) (13,355) (13,837) (39,881) (276,032) 11,465 (4,435) 8 7,038 (2,291) 4,747
Movement
Number of Ordinary Shares of RM1.00 each Earning per share attributable to equity holders of the parent: Basic for profit for the period
0.01
1.04
(1.16)
4.03
b) Unaudited Condensed Consolidated Statement of Comprehensive Income Profit for the period Foreign currency translation Total comprehensive income Total comprehensive income attributable to: Equity holders of the Parent Minority Interest 693 293 986 1,095 (303) 792 1,081 1,081 4,747 (483) 4,264
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Audited Accounts for the year ended 31/12/2010. The documents forms part of quarterly announcement for quarter ended 30/9/2011
Appendix 1 D
HEITECH PADU BERHAD UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2011 Non- distributable Foreign Exchange Reserve
RM'000
Distributable
Share capital
RM'000
Share premium
RM'000
Retained profits
RM'000
Total
RM'000
Minority Interest
RM'000
Total
RM'000
At 1 January 2011 Total comprehensive income for the period Transaction with owners Issuance of shares for cash Dividends At 30 September 2011
100,716 -
16,526 -
594 -
(701) (300)
85,721 (1,170)
202,856 (1,470)
8,340 2,551
211,196 1,081
509 101,225 -
16,526 -
594 -
(1,001) -
(5,543) 79,008 -
10,891 -
For the period ended 30 September 2010 At 1 January 2010 Effect of adopting FRS 139 At 1 January 2010 (restated) Total comprehensive income for the period Transaction with owners Issuance of shares for cash At 30 September 2010 100,428 100,428 16,526 16,526 324 324 (130) 91,310 (381) 90,929 3,694 208,588 (381) 208,207 3,564 9,134 9,134 700 217,722 (381) 217,341 4,264
7 100,435
16,526
231 231
194
94,623
238 212,009
9,834
238 221,843
The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Audited Accounts for the year ended 31/12/2010. The document forms part of quarterly announcement for quarter ended 30/9/2011
Appendix 1E
HEITECH PADU BERHAD UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2011
1000 2011 Period ended 30 September RM'000 2010 Year ended 31 December RM'000 17,203 12,720 5,970 1,114 2,933 1,745 594 2,715 (186) (198) 755 (246) 45,119 233 (51,915) (5,470) (12,033) (5,970) (9,794) (27,797)
CASHFLOW FROM OPERATING ACTIVITIES Profit before taxation Adjustment for: Depreciation Interest expense Impairment loss on: - trade receivables - deposits and other receivables Impairment loss on other investment Reversal of impairment loss on other investment Share option granted under ESOS Amortisation of intangible assets Share of profit from associated companies Gain on disposal of property, plant and equipment Gain on disposal of investment Loss on disposal of a subsidiary Interest income Operating profit before working capital changes Decrease in inventories Increase in receivables Decrease in payables Cash used in operations Interest paid Income taxes paid Net cash used in operating activities CASHFLOW FROM INVESTING ACTIVITIES Interest received Purchase of investments Proceeds from disposal of an investment Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Proceeds from disposal of a subsidiary Net cash outflow on acquisition of a subsidiary Net cash used in investing activities CASHFLOW FROM FINANCING ACTIVITIES Proceeds from issuance of ordinary shares Drawdown of term loans and revolving credit Repayment of revolving credit Repayment of hire purchase payables Dividend paid to Minority Interest Dividend paid Net cash generated from financing activities
2,099 8,884 3,528 (560) 1,669 (153) (78) (304) (236) 14,849 266 (29,330) (32,142) (46,357) (3,528) (4,097) (53,982)
NET DECREASE IN CASH & CASH EQUIVALENT CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR CASH AND CASH EQUIVALENTS AT END OF PERIOD CASH & CASH EQUIVALENT COMPRISE: Cash and bank balances Fixed deposits with licensed banks Bank overdrafts
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Audited Accounts for the year ended 31/12/2010. The document forms part of quarterly announcement for period ended 30/9/2011
Appendix 1F
UNAUDITED RESULTS FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2011 Notes to The Financial Statements 1. BASIS OF PREPARATION The interim financial statements have been prepared under the historical cost convention. The interim financial statements are unaudited and have been prepared in accordance with the requirements of FRS 134: Interim Financial Reporting and paragraph 9.22 of the Listing Requirements of Bursa Malaysia Securities Berhad. The interim financial statements should be read in conjunction with the audited financial statements for the year ended 31 December 2010. These explanatory notes attached to the interim financial statements provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Group since the year ended 31 December 2010.
2. CHANGES IN ACCOUNTING POLICIES The significant accounting policies adopted are consistent with those of the audited financial statements for the year ended 31 December 2010, except the followings: On 1 January 2011, the Group and the Company adopted the following new and amended FRS and IC Interpretations mandatory for annual financial periods beginning on or after 1 January 2011. i) FRSs, Amendments to FRSs and Interpretations FRS 1 First-time Adoption of Financial Reporting Standards FRS 3 Business Combinations (Revised) Amendments to FRS 2 Share-based Payment Amendments to FRS 5 Non-current Assets Held for Sale and Discontinued Operations Amendments to FRS 127 Consolidated and Separate Financial Statement Amendments to FRS 138 Intangible Assets IC Interpretation 9 Amendments to IC Interpretation 9
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
Adoption of the above standards and interpretations did not have any effect on the financial performance or position of the Group and the Company.
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
5. UNUSUAL ITEMS Other than disclosed in the financial statements, there were no unusual items affecting the financial statements for the financial period under review.
6. CHANGES IN ESTIMATES There were no significant changes in estimates that materially affect the financial statements for the financial period under review.
7. DEBTS AND EQUITY SECURITIES There were no repayment and issuance of debt securities, share buy-backs, share cancellation, share held as treasury shares and resale of treasury shares for the financial period under review.
8. DIVIDENDS PAID The following dividend was paid out in the financial period under review: In respect of the financial year ended 31 December 2010: RM000 Final dividend of 7.3% less 25% taxation, on 101,225,300 ordinary shares, approved by shareholders on 22 June 2011 and paid out on 5 August 2011 5,543
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
Consolidated
RM 000 REVENUE External RESULT (Loss)/profit for the year (1,825) 211,101
RM 000
RM 000
RM 000
RM 000
22,254
12,108
245,463
1,767
4,250
(3,111)
1,081
10. VALUATION OF PROPERTY, PLANT & EQUIPMENT Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, if any. There was no valuation of the property, plant and equipment during the current quarter under review.
11. SUBSEQUENT EVENTS There was no material event from 30 September 2011 to the date of this announcement, which affects substantially the results of the operations of the Group for the period ended 30 September 2011 in respect of which this announcement is made.
12. CHANGES IN THE COMPOSITION OF THE GROUP There were no material changes to the composition of the Group besides as disclosed above in the current financial period under review.
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
14. CONTINGENT LIABILITIES There were no contingent liabilities for the Group as at 17 November 2011 being the latest practicable date, which is not earlier than seven days from the date of issuance of this quarterly announcement.
15. REVIEW OF PERFORMANCE The Group recorded revenue of RM245,463,000 for the financial period ended 30 September 2011, a decrease of RM39,623,000 or 14% relative to the previous financial period ended 30 September 2010. The decrease in revenue was mainly due to decrease in network revenue. The Group recorded profit before taxation of RM2,099,000 for the financial period ended 30 September 2011, a decrease of RM4,939,000 or 70% relative to the financial period ended 30 September 2010. The decrease was mainly due to decrease in network revenue and profit. For the period of 9 months ended 30 September 2011, the Group has recorded a profit after taxation of RM1,081,000. This represents a decrease of RM3,666,000 compared to the previous financial period ended 30 September 2010.
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
17. PROSPECTS IN THE CURRENT FINANCIAL YEAR In view of the challenging business environment, the Group is cautiously optimistic to remain profitable for the current financial year.
19. TAXATION The taxation of the Group for the financial period under review is as follows:Current Quarter 30/9/2011 RM000 Current Taxation 468 Accumulated Current Year 30/9/2011 RM000 1,018
20. PROFIT/(LOSS) ON SALE OF INVESTMENTS There were no significant profits or loss on sale of investment and/or investment properties for the financial period under review.
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
21. QUOTED SECURITIES Details of investments in quoted securities held by the Group are as follows: Movements during: Current Quarter 30/9/2011 RM000 Total purchases Total sales proceeds Total gain on disposal Balances: As at 30/9/2011 RM000 Cost Carrying value / market value 14,477 13,314 430 Accumulated Current Year 30/9/2011 RM000 13,058 374 218
22. CORPORATE DEVELOPMENTS There were no corporate developments during the financial period under review.
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
23. GROUP BORROWINGS AND DEBT SECURITIES As at 30 September 2011, the Group has the following borrowings which are denominated in Ringgit Malaysia from local financial institutions:Secured: Short Term Borrowings Hire Purchase Creditor due within 12 months Other short term borrowings due within 12 months Long Term Borrowings Hire Purchase Creditor due after 12 months Other long term borrowings due after 12 months Total 24. REALISED AND UNREALISED PROFITS OR LOSSES DISCLOSURE Pursuant to Bursa Malaysia directive dated 20 December 2010, a listed issuer is required to disclose the breakdown of the unappropriated profits or accumulated losses as at the end of reporting period on a group basis into realized and unrealized profits or losses. As stated in the Directive, the Realised and Unrealised Profits and Losses Disclosure is applicable to quarterly reports and annual audited accounts for the financial period ending on or after 30 September 2010. The comparative figures are not required in the first financial year of complying with this disclosure. Total RM000 62 108,922 108,984 29 108,425 108,454 217,438
As at 30/9/2011 RM000 Total retained profits of the Company and its subsidiaries: - Realised - Unrealised Total retained profits from associated companies: - Realised - Unrealised Consolidation adjustments Total Group retained profits as per consolidated account
As at 31/12/2010 RM000
83,218 249
94,903 143
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
26. MATERIAL LITIGATIONS The Group is not engaged in any material litigations, claims or arbitration either as plaintiff or defendant as at 17 November 2011, being the latest practicable date, which is not earlier than seven days from the date of issuance of this quarterly announcement. 27. PROPOSED DIVIDEND There was no dividend proposed in respect of the current financial year during the financial period under review.
28. EARNINGS/(LOSS) PER SHARE Current Quarter 30/9/2011 a) Basic Net loss attributable to ordinary equity holders of the parent company (RM000) Weighted average number of ordinary shares in Issue (000) Basic loss per share (sen) b) Diluted Net loss attributable to ordinary equity holders of the parent company (RM000) Weighted average number of ordinary shares in Issue (000) Adjusted for : Assume shares issued from exercise of options (000) Effect of the dilution of share option (000) 12 (1,170) 12 (1,170) Accumulated Current Year 30/9/2011
101,225
101,225
0.01
(1.16)
101,225
101,225
2,097 103,322
2,097 103,322
0.01
(1.13)
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.
KHAERUDDIN BIN SUDHARMIN (LS007037) AHMAD NOOR BIN SULONG (MAICSA 7062155) Secretary
This document forms part of the unaudited quarterly announcement of HeiTech Group for the financial period ended 30/9/2011.