LPI CAPITAL BHD | |||||
SUMMARY OF THE KEY FINANCIAL INFORMATION | |||||
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2024 | |||||
(the figures have not been audited) | |||||
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT PRECEDING YEAR | CURRENT | PRECEDING YEAR | |||
YEAR | CORRESPONDING | YEAR | CORRESPONDING | ||
QUARTER | QUARTER | TO DATE | PERIOD | ||
ENDED | ENDED | ENDED | ENDED | ||
30/06/2024 | 30/06/2023 | 30/06/2024 | 30/06/2023 | ||
RM'000 | RM'000 | RM'000 | RM'000 | ||
1 | Revenue | 469,404 | 462,363 | 939,164 | 925,663 |
2 | Profit before tax | 100,550 | 80,782 | 227,897 | 172,172 |
3 | Profit for the period | 78,003 | 63,395 | 179,294 | 137,229 |
4 | Profit attributable | ||||
to ordinary equity | |||||
holders of the | |||||
parent | 78,003 | 63,395 | 179,294 | 137,229 | |
5 | Basic earnings per | ||||
share (sen) | 19.58 | 15.92 | 45.01 | 34.45 | |
6 | Proposed/ declared | ||||
dividend per | |||||
share (sen) | 30.00 | 26.00 | 30.00 | 26.00 | |
RESTATED | |||||
AS AT END OF CURRENT | AS AT PRECEDING | ||||
QUARTER | FINANCIAL YEAR END | ||||
7 | Net assets per share | ||||
attributable to | |||||
ordinary equity | |||||
holders of the | |||||
parent (RM) | 5.6265 | 5.7231 |
1
LPI CAPITAL BHD | ||||
Condensed Consolidated Statement of Profit or Loss for the Quarter Ended 30 June 2024 - Unaudited | ||||
Individual Period | Cumulative Period | |||
Current | Preceding Year | Current | Preceding Year | |
Year | Corresponding | Year | Corresponding | |
Quarter | Quarter | To Date | Period | |
Ended | Ended | Ended | Ended | |
30.06.2024 | 30.06.2023 | 30.06.2024 | 30.06.2023 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Operating revenue | 469,404 | 462,363 | 939,164 | 925,663 |
Insurance revenue | 443,317 | 439,592 | 866,063 | 870,456 |
Insurance service expenses | (321,767) | (235,512) | (567,012) | (410,151) |
Net expenses from reinsurance contracts held | (33,130) | (141,032) | (122,771) | (336,234) |
Insurance service result | 88,420 | 63,048 | 176,280 | 124,071 |
Investment income | 26,087 | 22,771 | 73,101 | 55,207 |
Net fair value (losses)/gains | (2,458) | 6,702 | 1,960 | 16,958 |
Net reversal of impairment loss on investments | 1 | 1 | 1 | 1 |
Investment return | 23,630 | 29,474 | 75,062 | 72,166 |
Net finance expenses from insurance contracts | (19,056) | (18,268) | (35,096) | (37,127) |
Net finance income from reinsurance contracts held | 9,878 | 10,160 | 16,942 | 20,622 |
Net financial result | 14,452 | 21,366 | 56,908 | 55,661 |
Other income | 1,107 | 1,703 | 2,706 | 2,706 |
Other operating expenses | (3,802) | (5,382) | (8,283) | (10,602) |
Other finance costs | (255) | (291) | (520) | (592) |
Share of profit after tax of equity accounted | ||||
associated company | 628 | 338 | 806 | 928 |
Profit before tax | 100,550 | 80,782 | 227,897 | 172,172 |
Tax expense | (22,547) | (17,387) | (48,603) | (34,943) |
Profit for the period | 78,003 | 63,395 | 179,294 | 137,229 |
Profit attributable to: | ||||
Owners of the Company | 78,003 | 63,395 | 179,294 | 137,229 |
Earnings per ordinary share (sen) | ||||
- Basic | 19.58 | 15.92 | 45.01 | 34.45 |
- Diluted | N/A | N/A | N/A | N/A |
N/A - Not Applicable.
Note : The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 31 December 2023.
2
LPI CAPITAL BHD
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Quarter Ended 30 June 2024 - Unaudited
Individual Period | Cumulative Period | |||
Current | Preceding Year | Current | Preceding Year | |
Year | Corresponding | Year | Corresponding | |
Quarter | Quarter | To Date | Period | |
Ended | Ended | Ended | Ended | |
30.06.2024 | 30.06.2023 | 30.06.2024 | 30.06.2023 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Profit for the period | 78,003 | 63,395 | 179,294 | 137,229 |
Other comprehensive income | ||||
Items that are or may be reclassified subsequently | ||||
to profit or loss | ||||
Foreign currency translation differences for foreign operation | (1,507) | 7,201 | (452) | 10,663 |
Net gains on investments in debt instruments designated at | ||||
fair value through other comprehensive income | 92 | - | 92 | - |
Net finance income/(expenses) from insurance contracts | 3,790 | 1,178 | 3,011 | (6,815) |
Net finance (expenses)/income from reinsurance contracts held | (2,997) | (246) | (2,333) | 4,823 |
Income tax relating to these items | (234) | 536 | (184) | 536 |
Items that will not be reclassified to profit or loss | ||||
Net losses on investments in equity instruments designated at | ||||
fair value through other comprehensive income | (44,022) | (33,182) | (59,455) | (103,775) |
Income tax relating to these items | 253 | 298 | 357 | 805 |
Total other comprehensive expenses for the period, | ||||
net of tax | (44,625) | (24,215) | (58,964) | (93,763) |
Total comprehensive income for the period attributable to | ||||
owners of the Company | 33,378 | 39,180 | 120,330 | 43,466 |
Note : The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Annual Financial Report for the year ended 31 December 2023.
3
LPI CAPITAL BHD
Condensed Consolidated Statement of Financial Position As At 30 June 2024 - Unaudited
Assets
Plant and equipment Right-of-use assets Investment properties Intangible assets
Investment in an associated company Other investments
Fair value through other comprehensive income Fair value through profit or loss
Amortised cost Reinsurance contract assets Loans and receivables Cash and cash equivalents
Total assets
Equity
Share capital
Reserves
Total equity
Liabilities
Insurance contract liabilities
Deferred tax liabilities
Lease liabilities
Other payables
Current tax payables
Total liabilities
Total equity and liabilities
30.06.2024
RM'000
6,578
36,766
33,783
2,972
47,655
3,364,118
905,675
1,394,263
1,064,180
958,388
74,650
157,686
4,682,596
398,383
1,846,108
2,244,491
2,308,554
35,563
39,125
28,975
25,888
2,438,105
4,682,596
31.12.2023
RM'000
5,986
38,056
33,977
3,542
46,322
3,167,288
945,063
1,218,290
1,003,935
877,968
80,864
315,015
4,569,018
398,383
1,885,131
2,283,514
2,199,820
25,121
40,303
8,131
12,129
2,285,504
4,569,018
Note : The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 31 December 2023.
4
LPI CAPITAL BHD | ||||||
Condensed Consolidated Statement of Changes in Equity for the Period Ended 30 June 2024 - Unaudited | ||||||
Non-distributable | Distributable | |||||
Foreign | ||||||
currency | Insurance | Fair | ||||
Share | translation | finance | value | Retained | Total | |
capital | reserve | reserve | reserve | earnings | equity | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
6 Months Period Ended 30 June 2024 | ||||||
At 1 January 2024 | 398,383 | 48,599 | (2,209) | 785,263 | 1,053,478 | 2,283,514 |
Foreign currency translation differences for foreign operation | - | (452) | - | - | - | (452) |
Net finance income from insurance contracts | - | - | 2,292 | - | - | 2,292 |
Net finance expenses from reinsurance contracts held | - | - | (1,776) | - | - | (1,776) |
Net losses on investments designated at | ||||||
fair value through other comprehensive income | - | - | - | (59,028) | - | (59,028) |
Total other comprehensive (expenses)/income for the period | - | (452) | 516 | (59,028) | - | (58,964) |
Profit for the period | - | - | - | - | 179,294 | 179,294 |
Total comprehensive (expenses)/income for the period | - | (452) | 516 | (59,028) | 179,294 | 120,330 |
Distributions to owners of the Company | ||||||
Dividends to owners of the Company | - | - | - | - | (159,353) | (159,353) |
Total transactions with owners of the Company | - | - | - | - | (159,353) | (159,353) |
At 30 June 2024 | ||||||
398,383 | 48,147 | (1,693) | 726,235 | 1,073,419 | 2,244,491 | |
5
LPI CAPITAL BHD
Condensed Consolidated Statement of Changes in Equity for the Period Ended 30 June 2024 - Unaudited (continued)
Non-distributable | Distributable | ||||
Foreign | |||||
currency | Insurance | Fair | |||
Share | translation | finance | value | Retained | Total |
capital | reserve | reserve | reserve | earnings | equity |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 |
6 Months Period Ended 30 June 2023
At 1 January 2023 | 398,383 | 35,155 | 357 | 791,936 | 982,765 | 2,208,596 |
Foreign currency translation differences for foreign operation | - | 10,663 | - | - | - | 10,663 |
Net finance expenses from insurance contracts | - | - | (5,105) | - | - | (5,105) |
Net finance income from reinsurance contracts held | - | - | 3,649 | - | - | 3,649 |
Net losses on investments in equity instruments designated at | ||||||
fair value through other comprehensive income | - | - | - | (102,970) | - | (102,970) |
Total other comprehensive income/(expenses) for the period | - | 10,663 | (1,456) | (102,970) | - | (93,763) |
Profit for the period | - | - | - | - | 137,229 | 137,229 |
Total comprehensive income/(expenses) for the period | - | 10,663 | (1,456) | (102,970) | 137,229 | 43,466 |
Distributions to owners of the Company | ||||||
Dividends to owners of the Company | - | - | - | - | (139,434) | (139,434) |
Total transactions with owners of the Company | - | - | - | - | (139,434) | (139,434) |
At 30 June 2023 | ||||||
398,383 | 45,818 | (1,099) | 688,966 | 980,560 | 2,112,628 | |
Notes : The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Financial Report for the year ended 31 December 2023.
6
LPI CAPITAL BHD
Condensed Consolidated Statement of Cash Flows for the Period Ended 30 June 2024 - Unaudited
Current | Preceding Year | ||
Year | Corresponding | ||
To Date | Period | ||
Ended | Ended | ||
30.06.2024 | 30.06.2023 | ||
RM'000 | RM'000 | ||
Operating activities | |||
Profit before tax | 227,897 | 172,172 | |
Investment income | (73,101) | (55,207) | |
Gain on disposal of plant and equipment | (276) | (155) | |
Net fair value gains recorded in profit or loss | (1,960) | (16,958) | |
Share of profit of equity accounted associated company | (806) | (928) | |
Interest on lease liabilities | 520 | 592 | |
Non-cash items: | |||
Depreciation of plant and equipment | 1,308 | 1,292 | |
Depreciation of right-of-use assets | 3,617 | 3,592 | |
Amortisation of intangible assets | 727 | 1,587 | |
Write off of plant and equipment | - | 1 | |
Unrealised foreign exchange (gain)/loss | (493) | 55 | |
Net reversal of impairment loss on investments | (1) | (1) | |
Changes in working capital: | |||
Other investments | (255,255) | (392,171) | |
Loans and receivables | 6,189 | (3,597) | |
Reinsurance contract assets | (82,938) | 224,341 | |
Insurance contract liabilities | 112,780 | (174,372) | |
Other payables | 20,862 | 15,423 | |
Cash used in operating activities | (40,930) | (224,334) | |
Dividend income received | 43,364 | 28,805 | |
Interest income received | 29,426 | 26,067 | |
Rental income on investment property received | 434 | 422 | |
Interest paid | (520) | (592) | |
Income tax paid | (24,214) | (34,659) | |
Net cash flows generated from/(used in) operating activities | 7,560 | (204,291) |
7
LPI CAPITAL BHD | |||
Condensed Consolidated Statement of Cash Flows | |||
for the Period Ended 30 June 2024 - Unaudited (continued) | |||
Current | Preceding Year | ||
Year | Corresponding | ||
To Date | Period | ||
Ended | Ended | ||
30.06.2024 | 30.06.2023 | ||
RM'000 | RM'000 | ||
Investing activities | |||
Proceeds from disposal of plant and equipment | 276 | 155 | |
Purchase of plant and equipment | (1,909) | (127) | |
Purchase of intangible assets | (160) | (493) | |
Net cash flows used in investing activities | (1,793) | (465) | |
Financing activities | |||
Dividends paid to owners of the Company | (159,353) | (139,434) | |
Payment of lease liabilities | (3,503) | (3,411) | |
Net cash flows used in financing activities | (162,856) | (142,845) | |
Net decrease in cash and cash equivalents | (157,089) | (347,601) | |
Cash and cash equivalents at 1 January | 315,015 | 724,911 | |
Effect of movement in exchange rates | (240) | 11,099 | |
Cash and cash equivalents at 30 June | 157,686 | 388,409 |
Note : The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Annual Financial Report for the year ended 31 December 2023.
8