Condensed Consolidated Income Statement For The Fourth Quarter Ended 30 September 2008 (Unaudited)

*** Results reflects post-acquisition results of subsidiaries acquired on 29 February 2008.

NOTES:-

  1. The Company was incorporated on 10 October 2005 and has not commenced commercial operations for the financial year ended 30 September 2007. The group structure for the flotation of the Company is formed on 29 February 2008 upon completion of the following acquisitions by the Company:


    • Acquisition of 2,600,000 ordinary shares of RM1.00 each representing the entire issued & paid-up share capital of Dayang Enterprise Sdn Bhd, for a total consideration of RM62,503,443.

    • Acquisition of 11,000,000 ordinary shares of RM1.00 each representing the entire issued & paid -up share capital of DESB Marine Services Sdn Bhd, for a total consideration of RM55,871,579.

    • Acquisition of 20,000 ordinary shares of RM1.00 each representing the entire issued & paid-up share capital of Fortune Triumph Sdn Bhd, for a total consideration of RM4,538,237.

    The results for the current quarter and financial period to date reflects the post-acquisition results of the Group forthwith the completion of the above acquisitions.

    The negative goodwill arising from the acquisitions amounting to RM21.5 million is included in the other operating income for the financial period to date.

  2. For illustrative purpose, the basic EPS for the current quarter and financial period to date based on results excluding the negative goodwill are as follows:-

(The Condensed Consolidated Income Statement should be read in conjunction with the Proforma Consolidated Financial Information and the Accountants' Report for the Financial Year ended 30 September 2007 as disclosed in the Prospectus of the Company dated 31 March 2008 and the accompanying notes attached to this interim financial report)

Condensed Consolidated Balance Sheet as at 31 December 2008

(The Condensed Consolidated Balance Sheet should be read in conjunction with the Proforma Consolidated Financial Information and the Accountants' Report for the Financial Year ended 30 September 2007 as disclosed in the Prospectus of the Company dated 31 March 2008 and the accompanying notes attached to this interim financial report)

Review of Performance

For the current quarter, the Group recorded a pre-tax profit of RM19.0 million on the back of revenue of RM71.1 million.

For the financial period to date, the Group recorded a post-acquisition pre-tax profit of RM68.9 million. The pre-tax profit included a negative goodwill on acquisition of DESB, DMSSB and FTSB of RM21.5 million.

In the opinion of the Directors, the result for the current quarter and financial period to date have not been affected by any transactions or events of a material nature which has arisen between 30 September 2008 and the date of this report.

View Full Report
Click here to view 3Q08
Back to Top