RCE CAPITAL RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | ||||
Incorporated in Malaysia | for 4th Quarter Ended 31 March 2023 | ||||
SUMMARY OF KEY FINANCIAL INFORMATION FOR THE FINANCIAL PERIOD | |||||
ENDED 31 MARCH 2023 | |||||
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||
31.03.2023 | 31.03.2022 | 31.03.2023 | 31.03.2022 | ||
RM'000 | RM'000 | RM'000 | RM'000 | ||
1. | Revenue | 82,645 | 74,704 | 323,632 | 299,457 |
2. | Profit before tax | 46,438 | 41,427 | 183,942 | 177,231 |
3. | Profit for the financial period | 34,840 | 31,537 | 138,784 | 133,169 |
4. Profit attributable to ordinary equity holders
of the Company | 34,840 | 31,537 | 138,784 | 133,169 | |
5. | Basic earnings per | ||||
ordinary share (sen) | 4.75 | 4.31 | 18.95 | 18.25 | |
6. | Proposed/Declared dividend | ||||
per share (sen) | 7.00 | 4.00 | 30.00 | 11.00 | |
AS AT END OF | AS AT PRECEDING | ||||
CURRENT | FINANCIAL | ||||
QUARTER | YEAR END |
7. Net assets per share attributable to ordinary equity holders of
the Company (RM) | 1.10 | 1.19 | |||
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||
31.03.2023 | 31.03.2022 | 31.03.2023 | 31.03.2022 | ||
RM'000 | RM'000 | RM'000 | RM'000 | ||
8. | Gross interest income | 8 | 83 | 22 | 294 |
9. | Gross interest expense | 59 | 60 | 230 | 263 |
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | ||||||
Incorporated in Malaysia | for 4th Quarter Ended 31 March 2023 | ||||||
CONDENSED STATEMENT OF COMPREHENSIVE INCOME | |||||||
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||||
3 MONTHS ENDED | 12 MONTHS ENDED | ||||||
31.03.2023 | 31.03.2022 | 31.03.2023 | 31.03.2022 | ||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||
Profit income | 70,476 | 70,370 | 280,715 | 274,637 | |||
Other revenue | 12,169 | 4,334 | 42,917 | 24,820 | |||
Revenue | 82,645 | 74,704 | 323,632 | 299,457 | |||
Other income | 8,771 | 5,742 | 28,046 | 20,418 | |||
Profit expense applicable to revenue | (25,356) | (20,050) | (90,061) | (80,234) | |||
Directors' remuneration and staff costs | (5,977) | (5,177) | (27,079) | (26,635) | |||
Allowances for impairment loss on | |||||||
receivables, net | (8,153) | (5,859) | (28,688) | (11,544) | |||
Depreciation of plant and equipment and | |||||||
right-of-use ("ROU") assets | (914) | (950) | (3,581) | (3,569) | |||
Other expenses | (4,519) | (6,923) | (18,097) | (20,399) | |||
Finance costs | (59) | (60) | (230) | (263) | |||
Profit before tax | |||||||
46,438 | 41,427 | 183,942 | 177,231 | ||||
Income tax expense | (11,598) | (9,890) | (45,158) | (44,062) | |||
Total comprehensive income | |||||||
for the financial period | 34,840 | 31,537 | 138,784 | 133,169 | |||
Other comprehensive income that | |||||||
may be reclassified subsequently | |||||||
to profit or loss: | |||||||
Foreign currency translations | - | - | - | 1 | |||
Other comprehensive income for | |||||||
the financial period, net of tax | - | - | - | 1 | |||
Total comprehensive income | |||||||
for the financial period | 34,840 | 31,537 | 138,784 | 133,170 | |||
Attributable to: | |||||||
Owners of the Company | 34,840 | 31,537 | 138,784 | 133,169 | |||
Earnings per ordinary share (sen): | |||||||
Basic | 4.75 | 4.31 | 18.95 | 18.25 | |||
Diluted | 4.74 | 4.30 | 18.85 | 18.19 | |||
The Condensed Statement of Comprehensive Income should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2022 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | ||
Incorporated in Malaysia | for 4th Quarter Ended 31 March 2023 | ||
CONDENSED STATEMENT OF FINANCIAL POSITION | |||
AS AT | AS AT | ||
31.03.2023 | 31.03.2022 | ||
RM'000 | RM'000 | ||
ASSETS | |||
Non-Current Assets | |||
Plant and equipment | |||
7,241 | 6,354 | ||
ROU assets | 4,664 | 4,027 | |
Goodwill on consolidation | 47,333 | 47,333 | |
Financing receivables | 1,677,871 | 1,558,602 | |
Deferred tax assets | 38,575 | 40,684 | |
Total Non-Current Assets | 1,775,684 | 1,657,000 |
Current Assets
Financing receivables Trade receivables
Other receivables, deposits and prepaid expenses Deposits with licensed financial institutions Cash and bank balances
Total Current Assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity attributable to owners of the Company
Share capital
Treasury shares
Reserves
Total Equity
Non-Current Liabilities
Payables and accrued expenses
Hire-purchase payables
Financing liabilities
Lease liabilities
Deferred tax liabilities
Total Non-Current Liabilities
Current Liabilities
221,541
53,918
16,021
799,886
79,781
1,171,147
2,946,831
201,917
(4,948)
608,690
805,659
780
1,160
1,308,538
2,025
1,111
1,313,614
205,471
53,970
8,326
647,587
152,924
1,068,278
2,725,278
200,697
(4,948)
676,319
872,068
780
338
1,198,929
2,787
1,167
1,204,001
Payables and accrued expenses Hire-purchase payables Financing liabilities
Lease liabilities
Tax liabilities
Total Current Liabilities
Total Liabilities
TOTAL EQUITY AND LIABILITIES
NET ASSETS PER SHARE (RM)
35,470
379
783,006
915
7,788
827,558
2,141,172
2,946,831
1.10
33,729
246
605,047
840
9,347
649,209
1,853,210
2,725,278
1.19
The Condensed Statement of Financial Position should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2022 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | |||||||
Incorporated in Malaysia | for 4th Quarter Ended 31 March 2023 | |||||||
CONDENSED STATEMENT OF CHANGES IN EQUITY | ||||||||
Employees' | Reserves | |||||||
Share | Exchange | |||||||
Share | Treasury | Scheme | Translation | Retained | Total | |||
Capital | Shares | ("ESS") | Reserve | Earnings | Reserves | Total | ||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | ||
As at 1 April 2021 | 188,026 | (25,911) | 2,136 | (1) | 609,781 | 611,916 | 774,031 | |
Total comprehensive income | - | - | - | 1 | 133,169 | 133,170 | 133,170 | |
Transactions with owners | ||||||||
Dividends | - | - | - | - | (51,069) | (51,069) | (51,069) | |
Share dividend | - | 20,963 | - | - | (20,963) | (20,963) | - | |
Options under ESS: | ||||||||
- Granted | - | - | 3,326 | - | - | 3,326 | 3,326 | |
- Exercised | - | - | (1,988) | - | 1,927 | (61) | (61) | |
Issuance of shares pursuant to | ||||||||
options exercised | 12,671 | - | - | - | - | - | 12,671 | |
Cancellation of options | - | - | (7) | - | 7 | - | - | |
Total transactions with owners | ||||||||
12,671 | 20,963 | 1,331 | - | (70,098) | (68,767) | (35,133) | ||
As at 31 March 2022 | 200,697 | (4,948) | 3,467 | - | 672,852 | 676,319 | 872,068 | |
As at 1 April 2022 | 200,697 | (4,948) | 3,467 | - | 672,852 | 676,319 | 872,068 | |
Total comprehensive income | - | - | - | - | 138,784 | 138,784 | 138,784 | |
Transactions with owners | ||||||||
Dividends | - | - | - | - | (197,843) | (197,843) | (197,843) | |
Options under ESS: | ||||||||
- Granted | - | - | 2,867 | - | - | 2,867 | 2,867 | |
- Exercised | - | - | (5,036) | - | (6,401) | (11,437) | (11,437) | |
Issuance of shares pursuant to | ||||||||
options exercised | 1,220 | - | - | - | - | - | 1,220 | |
Cancellation of options | - | - | (111) | - | 111 | - | - | |
Total transactions with owners | ||||||||
1,220 | - | (2,280) | - | (204,133) | (206,413) | (205,193) | ||
As at 31 March 2023 | 201,917 | (4,948) | 1,187 | - | 607,503 | 608,690 | 805,659 | |
The Condensed Statement of Changes in Equity should be read in conjunction with the audited financial statements of the Company for the financial year ended 31 March 2022 and the accompanying explanatory notes attached to the interim financial report.
RCE Capital Berhad
Registration No: 195301000151 (2444-M) | Interim Financial Report | |||
Incorporated in Malaysia | for 4th Quarter Ended 31 March 2023 | |||
CONDENSED STATEMENT OF CASH FLOWS | ||||
CUMULATIVE | CUMULATIVE | |||
QUARTER | QUARTER | |||
31.03.2023 | 31.03.2022 | |||
RM'000 | RM'000 | |||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Profit before tax | 183,942 | 177,231 | ||
Adjustments for: | ||||
Allowances for impairment loss on receivables, net | 28,688 | 11,544 | ||
Depreciation of plant and equipment and ROU assets | 3,581 | 3,569 | ||
Options granted under ESS | 2,867 | 3,326 | ||
Finance costs | 230 | 263 | ||
Plant and equipment written off | - | 2 | ||
Profit and interest income from deposits with licensed | ||||
financial institutions | (19,010) | (12,239) | ||
Gain on disposal of plant and equipment | (207) | (176) | ||
Operating profit before working capital changes | 200,091 | 183,520 | ||
(Increase)/Decrease in working capital: | ||||
Financing receivables | (163,960) | (54,449) | ||
Trade receivables | (15) | 249 | ||
Other receivables, deposits and prepaid expenses | (8,450) | 7,092 | ||
Increase in working capital: | ||||
Payables and accrued expenses | 5,721 | 6,515 | ||
Cash generated from operations | 33,387 | 142,927 | ||
Taxes paid | (42,849) | (41,153) | ||
Taxes refunded | - | 229 | ||
Net cash (used in)/generated from operating activities | (9,462) | 102,003 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Profit and interest income from deposits with licensed | ||||
financial institutions received | 19,010 | 12,239 | ||
Proceeds from disposal of plant and equipment | 207 | 180 | ||
Additions to plant and equipment | (2,525) | (2,169) | ||
Deposit payment for assets under hire-purchase | (251) | (87) | ||
Net cash generated from investing activities | 16,441 | 10,163 |
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Disclaimer
RCE Capital Bhd published this content on 16 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2023 08:40:09 UTC.
