HONG LAI HUAT GROUP LIMITED
(Incorporated in the Republic of Singapore)
(Co. Reg. No. 199905292D)
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED
30 JUNE 2021 ("1H FY2021")
CONTENTS | |
Condensed interim consolidated statement of comprehensive income | 1 |
Condensed interim statement of financial position | 2 |
Condensed interim consolidated statement of changes in equity | 3 |
Condensed interim consolidated statement of cash flows | 5 |
Notes to the condensed interim financial statements | 6 |
Other information required by Listing Rule Appendix 7.2 | 15 |
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the financial period ended 30 June 2021
Group | ||||||||
Note | 6 months ended 30 June | Change | ||||||
FY 2021 | FY 2020 | |||||||
(Unaudited) | (Unaudited) | |||||||
S$'000 | S$'000 | % | ||||||
Revenue | 3 | 12,102 | 5,524 | 119% | ||||
Cost of sales | (6,939) | (2,479) | 180% | |||||
Gross profit | 5,163 | 3,045 | 70% | |||||
Other income | 1,366 | 2,084 | -34% | |||||
Distribution and selling expenses | (142) | (121) | 17% | |||||
Administrative expenses | (4,222) | (5,584) | -24% | |||||
Other expenses | (3,357) | (61) | N.M. | |||||
Share of profit (loss) of joint venture | 82 | (465) | -118% | |||||
Finance costs | (155) | (50) | 210% | |||||
Loss before income tax | 4 | (1,265) | (1,152) | 10% | ||||
Income tax expense | 5 | (37) | (188) | -80% | ||||
Loss for the period | (1,302) | (1,340) | -3% | |||||
Other comprehensive income: | ||||||||
Items that may be reclassified subsequently to profit or loss | ||||||||
Exchange differences on translation of foreign operations | 1,520 | 2,572 | ||||||
Other comprehensive income for the period, net of tax | 1,520 | 2,572 | ||||||
Total comprehensive income for the period | 218 | 1,232 | ||||||
Loss attributable to: | ||||||||
Owners of the company | (1,302) | (1,340) | ||||||
Non-controlling interests | - | - | ||||||
(1,302) | (1,340) | |||||||
Total comprehensive income attributable to: | ||||||||
Owners of the company | 218 | 1,232 | ||||||
Non-controlling interests | - | - | ||||||
218 | 1,232 |
Note:
N.M. - Not meaningful
The accompanying notes form an integral part of these financial statements
Page 1 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION As at 30 June 2021
Note | |
Current assets | |
Cash and bank balances | |
Trade receivables | |
Other receivables and deposits | |
Prepayments | |
Amounts due from subsidiaries | |
Financial assets at fair value through profit or loss | |
Inventories | |
Biological assets | 6 |
Completed development properties held for sale | 7 |
Development properties | 7 |
Disposal group assets classified as held for sale | 8 |
Total current assets | |
Non-current assets | |
Other receivables and deposits | |
Property, plant and equipment | 9 |
Right-of-use assets | 10 |
Investment properties | 11 |
Joint venture | |
Investment in subsidiaries | |
Financial assets at fair value through profit or loss | |
Total non-current assets | |
Total assets | |
Liabilities and equity | |
Current liabilities | |
Trade payables | |
Other payables and accruals | |
Amounts due to subsidiaries | |
Income tax payable | |
Bank loans | 12 |
Lease liabilities | 12 |
Loan from controlling shareholder | |
Total current liabilities | |
Non-current liabilities | |
Bank loans | 12 |
Lease liabilities | 12 |
Loan from controlling shareholder | |
Deferred tax liabilities | |
Total non-current liabilities | |
Capital, reserves and non-controlling interests | |
Share capital | 13 |
Retained earnings |
Captial reserve
Asset revaluation reserve
Foreign currency translation reserve
Total equity
Total liabilities and equity
Group | Company | ||||||
30/6/2021 | 31/12/2020 | 30/6/2021 | 31/12/2020 | ||||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | ||||
S$'000 | S$'000 | S$'000 | S$'000 | ||||
16,234 | 9,535 | 4,193 | 680 | ||||
14,227 | 6,136 | - | - | ||||
1,682 | 1,391 | 53 | 38 | ||||
1,163 | 26,081 | 58 | 99 | ||||
- | - | 54,429 | 32,836 | ||||
100 | 100 | - | - | ||||
244 | 156 | - | - | ||||
5,187 | 5,515 | - | - | ||||
18,034 | 23,653 | - | - | ||||
30,189 | - | - | - | ||||
87,060 | 72,567 | 58,733 | 33,653 | ||||
4,800 | - | - | - | ||||
91,860 | 72,567 | 58,733 | 33,653 | ||||
40 | 40 | - | - | ||||
11,140 | 10,711 | 48 | 70 | ||||
64,849 | 64,674 | 85 | 148 | ||||
- | 8,000 | - | - | ||||
6,599 | 6,405 | - | - | ||||
- | - | 100,129 | 100,129 | ||||
240 | 240 | 240 | 240 | ||||
82,868 | 90,070 | 100,502 | 100,587 | ||||
174,728 | 162,637 | 159,235 | 134,240 | ||||
4,055 | 2,472 | - | - | ||||
8,383 | 8,222 | 226 | 378 | ||||
- | - | 7,683 | 8,286 | ||||
- | 27 | - | - | ||||
1,843 | 3,179 | 1,843 | 1,828 | ||||
92 | 156 | 28 | 72 | ||||
- | 147 | - | - | ||||
14,373 | 14,203 | 9,780 | 10,564 | ||||
4,111 | 4,818 | 4,111 | 4,818 | ||||
724 | 779 | 30 | 43 | ||||
- | 14,177 | - | - | ||||
11,211 | 11,020 | 17 | 17 | ||||
16,046 | 30,794 | 4,158 | 4,878 | ||||
121,053 | 94,602 | 121,053 | 94,602 | ||||
25,894 | 27,196 | 24,703 | 24,655 | ||||
414 | 414 | (459) | (459) | ||||
2,775 | 2,775 | - | - | ||||
(5,827) | (7,347) | - | - | ||||
144,309 | 117,640 | 145,297 | 118,798 | ||||
174,728 | 162,637 | 159,235 | 134,240 | ||||
The accompanying notes form an integral part of these financial statements
Page 2 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the financial period ended 30 June 2021
Attributable to owners of the company | ||||||
Asset | Currency | |||||
Share | Retained | Capital | revaluation | translation | Total | |
Note | capital | earnings | reserve | reserve | reserve | equity |
S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 |
Group (Unaudited) | |||||||||
At 1 January 2020 | 94,602 | 35,727 | 414 | 2,775 | (5,430) | 128,088 | |||
Total comprehensive (loss) income for the period: | |||||||||
Loss for the period | - | (1,340) | - | - | - | (1,340) | |||
Other comprehensive income for the period | - | - | - | - | 2,572 | 2,572 | |||
Total | - | (1,340) | - | - | 2,572 | 1,232 | |||
Balance at 30 June 2020 | 94,602 | 34,387 | 414 | 2,775 | (2,858) | 129,320 | |||
At 1 January 2021 | 94,602 | 27,196 | 414 | 2,775 | (7,347) | 117,640 | |||
Total comprehensive (loss) income for the period: | |||||||||
Loss for the period | - | (1,302) | - | - | - | (1,302) | |||
Other comprehensive income for the period | - | - | - | - | 1,520 | 1,520 | |||
Total | - | (1,302) | - | - | 1,520 | 218 | |||
Transactions with owners, recognised directly in equity: | |||||||||
Rights issue | 13 | 26,929 | - | - | - | - | 26,929 | ||
Rights issue expenses | 13 | (478) | - | - | - | - | (478) | ||
Total | 26,451 | - | - | - | - | 26,451 | |||
Balance at 30 June 2021 | 121,053 | 25,894 | 414 | 2,775 | (5,827) | 144,309 | |||
The accompanying notes form an integral part of these financial statements
Page 3 of 21
HONG LAI HUAT GROUP LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (cont'd)
For the financial period ended 30 June 2021
Share | Retained | Capital | Total | |
Note | capital | earnings | reserves | equity |
S$'000 | S$'000 | S$'000 | S$'000 |
Company (Unaudited) | |||||
At 1 January 2020 | 94,602 | 1,434 | (459) | 95,577 | |
Restatements | - | 22,969 | - | 22,969 | |
At 1 January 2020 (Restated) | 94,602 | 24,403 | (459) | 118,546 | |
Total comprehensive income for the period: | |||||
Profit for the period | - | 51 | - | 51 | |
Balance at 30 June 2020 | |||||
94,602 | 24,454 | (459) | 118,597 | ||
At 1 January 2021 | 94,602 | 24,655 | (459) | 118,798 | |
Total comprehensive income for the period: | |||||
Profit for the period | - | 48 | - | 48 | |
Transactions with owners, recognised directly in equity: | |||||
Rights issue | 13 | 26,929 | - | - | 26,929 |
Rights issue expenses | 13 | (478) | - | - | (478) |
Total | 26,451 | - | - | 26,451 | |
Balance at 30 June 2021 | |||||
121,053 | 24,703 | (459) | 145,297 |
The accompanying notes form an integral part of these financial statements
Page 4 of 21
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