TIDMASR
RNS Number : 9763Z
Asia Resources PLC
30 September 2009
30 September 2009
Asia Resources Plc ("Asia Resources")
Unaudited Interim Results
For the six months ended 30 June 2009
Chairman's statement
I am pleased to announce the interim results of Asia Resources Plc ("Asia
Resources"), for the six months ended 30 June 2009.
The unaudited interim results for the six months ended 30 June 2009 show a
profit before taxation of MYR 2,693,000 and a profit after taxation of MYR
1,546,000 (2008 : MYR 2,028,000). The basic and diluted earnings per share were
1.03sen (2008 : 1.35sen). The balance sheet shows net assets of MYR 58,245,000
(2008 : MYR 55,267,000).
The Group's subsidiary, LS Gold Bullion Sdn. Bhd. ("LSJ" formerly known as Lin
Shoon Jewellers Sdn Bhd) has seen sales growth of 20%, partly as a result of the
rise in gold prices but predominately from higher physical gold volumes. Gross
profit has been maintained in the face of depressed processing margin, which we
believe have bottomed out. The board has identified opportunities for enhancing
margin with the creation of a bespoke, branded product.
Group cash generated from operations has increased from MYR 1,047,000 in 2008 to
MYR 4,501,000 in 2009 and cash from operating activities is now positive at MYR
2,073,000 (2008 negative MYR 2,010,000). In the six months ended 30.06.2009 LSJ
has invested just under MYR 6 million in new plant and machinery for the
manufacture of higher margin gold products to support the Group strategy of
margin enhancement.
The Company is currently investigating projects that will assist in sourcing
more raw product and continues to seek investment opportunities in the gold and
related industries.
Dennis Edmonds
Chairman
30September 2009
Asia Resources plc
Michael Stainer Tel: 07879 407554
www.asiaresourcesplc.co.uk
ZAI Corporate Finance Limited
Dominique Doussot Tel: 0207 398 2900
Jonathan Evans
Religare Hichens, Harrison
Colin Rowbury Tel: 0207 382 4450
Balance Sheet
+----------------------------------------+-------+-------------+-------------+------------+
| |Notes | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
| | | (Unaudited) | (Unaudited) | (Audited) |
| | | | Restated | Restated |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Non Current Assets | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Property, plant and equipment | 7a | 15,312 | 8,474 | 9,623 |
+----------------------------------------+-------+-------------+-------------+------------+
| Investment Properties | 7b | 1,349 | 1,877 | 1,373 |
+----------------------------------------+-------+-------------+-------------+------------+
| Other investments | 6 | 1,157 | 1,200 | 1,157 |
+----------------------------------------+-------+-------------+-------------+------------+
| Goodwill | 5 | 19,039 | 18,893 | 19,039 |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Current Assets | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Inventories | | 26,192 | 20,367 | 21,550 |
+----------------------------------------+-------+-------------+-------------+------------+
| Trade and other receivables | | 81,101 | 77,067 | 77,008 |
+----------------------------------------+-------+-------------+-------------+------------+
| Fixed deposits with licensed banks | | | 25,052 | 32,372 |
| | | 34,236 | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Cash and bank balances | | 276 | 2,772 | 2,471 |
+----------------------------------------+-------+-------------+-------------+------------+
| Total assets | | | | 164,593 |
| | | 178,662 | 155,702 | |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Current Liabilities | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Trade and other payables | | 33,578 | 26,206 | 28,154 |
+----------------------------------------+-------+-------------+-------------+------------+
| Finance lease payables | | 168 | - | 167 |
+----------------------------------------+-------+-------------+-------------+------------+
| Bank borrowings | 10 | 70,707 | 64,666 | 67,823 |
+----------------------------------------+-------+-------------+-------------+------------+
| Current tax liabilities | | 7,556 | 6,057 | 6,926 |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Capital and reserves attributable to | | | | |
| equity shareholders | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Called up share capital | | 9,621 | 9,621 | 9,621 |
+----------------------------------------+-------+-------------+-------------+------------+
| Share premium | | 15,680 | 15,680 | 15,680 |
+----------------------------------------+-------+-------------+-------------+------------+
| Share based payments reserve | | 861 | 96 | 861 |
+----------------------------------------+-------+-------------+-------------+------------+
| Foreign exchange reserve | | 13 | 231 | 182 |
+----------------------------------------+-------+-------------+-------------+------------+
| Reverse acquisition reserve | | 6,156 | 6,156 | 6,156 |
+----------------------------------------+-------+-------------+-------------+------------+
| Retained profits | | 25,914 | 23,483 | 24,368 |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Non-current liabilities | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Finance lease payables | | 4,077 | 712 | 411 |
+----------------------------------------+-------+-------------+-------------+------------+
| Bank borrowings | 10 | 3,659 | 2,456 | 3,403 |
+----------------------------------------+-------+-------------+-------------+------------+
| Deferred tax liabilities | | 672 | 338 | 841 |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
| Total equity and liabilities | | | | 164,593 |
| | | 178,662 | 155,702 | |
+----------------------------------------+-------+-------------+-------------+------------+
| | | | | |
+----------------------------------------+-------+-------------+-------------+------------+
Income Statement
+--------------------------------------+-------+-------------+-------------+--------------+
| |Notes | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
| | | (Unaudited) | (Unaudited) | (Audited) |
+--------------------------------------+-------+-------------+-------------+--------------+
| | | | | |
+--------------------------------------+-------+-------------+-------------+--------------+
| Continuing operations | | | | |
+--------------------------------------+-------+-------------+-------------+--------------+
| Revenue | 3 | 749,488 | 623,886 | 1,206,996 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Cost of sales | | (737,584) | (612,135) | (1,186,400) |
+--------------------------------------+-------+-------------+-------------+--------------+
| Gross profit | | 11,904 | 11,751 | 20,596 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Other operating income | | 234 | 368 | 3,358 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Administrative expenses | | (8,280) | ( 7,844) | (14,561) |
+--------------------------------------+-------+-------------+-------------+--------------+
| Profit from operations | | 3,859 | 4,275 | 9,393 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Finance costs | | (1,927) | (1,638) | (3,583) |
+--------------------------------------+-------+-------------+-------------+--------------+
| Finance Income | | 762 | 521 | 1,496 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Profit before taxation | | 2,693 | 3,158 | 7,306 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Taxation | 4 | (1,147) | (1,130) | (4,394) |
+--------------------------------------+-------+-------------+-------------+--------------+
| Net Profit for the period | | 1,546 | 2,028 | 2,912 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Attributable to: | | | | |
+--------------------------------------+-------+-------------+-------------+--------------+
| Equity holders of the parent | | 1,546 | 2,028 | 2,921 |
+--------------------------------------+-------+-------------+-------------+--------------+
| Earnings per share (sen) | | | | |
+--------------------------------------+-------+-------------+-------------+--------------+
| From continuing operations | | | | |
+--------------------------------------+-------+-------------+-------------+--------------+
| Basic | 9 | 1.03c | 1.35c | 1.94c |
+--------------------------------------+-------+-------------+-------------+--------------+
| Diluted | 9 | 1.03c | 1.35c | 1.94c |
+--------------------------------------+-------+-------------+-------------+--------------+
Statement of Changes in Equity
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| | Share | Share | Retained | Share | Foreign | Reverse | Total |
| | Capital | Premium | Profits | based payments | Exchange | Acquisition | Equity |
| | MYR'000 | MYR'000 | MYR'000 | Reserve | Reserves | Reserves | MYR'000 |
| | | | | MYR'000 | MYR'000 | MYR'000 | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Balance as at | 3,289 | | 23,554 | | | | 26,843 |
| 1 January 2008 | | | | | | | |
| as previously | | | | | | | |
| stated | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Prior year | | | (2,099) | | | | (2,099) |
| Adjustment | | | | | | | |
| (note 8) | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Reverse | 6,332 | 15,680 | | 96 | | 6,156 | 28,264 |
| takeover of | | | | | | | |
| Asia Resources | | | | | | | |
| Plc | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Exchange | | | | | 231 | | 231 |
| difference in | | | | | | | |
| translation | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Profit for the | | | 2,028 | | | | 2,028 |
| period | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Balance as at | 9,621 | 15,680 | 23,483 | 96 | 231 | 6,156 | 55,267 |
| 30 June 2008 | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Exchange | | | | | (49) | | (49) |
| difference | | | | | | | |
| In translation | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Share based | | | | 765 | | | 765 |
| Payment charge | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Profit for the | | | 885 | | | | 885 |
| period | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Balance as at | 9,621 | 15,680 | 24,368 | 861 | 182 | 6,156 | 56,868 |
| 31 | | | | | | | |
| December 2008 | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Exchange | | | | | (169) | | (169) |
| Difference in | | | | | | | |
| translation | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Profit for the | | | 1,546 | | | | 1,546 |
| period | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
| Balance as at | 9,621 | 15,680 | 25,914 | 861 | 13 | 6,156 | 58,245 |
| 30 June 2009 | | | | | | | |
+----------------+---------+---------+----------+----------------+----------+-------------+----------+
Cash Flow Statement
+--------------------------------------------+------+------------+------------+
| | | 30.06.09 | 30.06.08 |
| | | MYR'000 | MYR'000 |
+--------------------------------------------+------+------------+------------+
| Cash Flow from Operating Activities | | | |
+--------------------------------------------+------+------------+------------+
| Profit before taxation | | 2,693 | 3,158 |
+--------------------------------------------+------+------------+------------+
| Adjustments for: | | | |
+--------------------------------------------+------+------------+------------+
| Depreciation of property, plant and | | 1,168 | 743 |
| equipment | | | |
+--------------------------------------------+------+------------+------------+
| Depreciation of investment properties | | 21 | 21 |
+--------------------------------------------+------+------------+------------+
| (Gain)/ loss on disposal of property, | | (12) | 1 |
| plant and equipment | | | |
+--------------------------------------------+------+------------+------------+
| Interest expense | | | 1,638 |
| | | 1,927 | |
+--------------------------------------------+------+------------+------------+
| Interest income | | (761) | (521) |
+--------------------------------------------+------+------------+------------+
| Unrealised (gain) / loss on foreign | | (1) | 12 |
| exchange | | | |
+--------------------------------------------+------+------------+------------+
| Operating profit before work capital | | | 5,052 |
| changes | | 5,035 | |
+--------------------------------------------+------+------------+------------+
| Increase in working capital changes: | | | |
+--------------------------------------------+------+------------+------------+
| Inventories | | (4,642) | (3,314) |
+--------------------------------------------+------+------------+------------+
| Trade and other receivables | | (4,093) | (5,478) |
+--------------------------------------------+------+------------+------------+
| Trade and other payables | | 8,201 | 4,787 |
+--------------------------------------------+------+------------+------------+
| | | | |
+--------------------------------------------+------+------------+------------+
| Cash generated by operations | | 4,501 | 1,047 |
+--------------------------------------------+------+------------+------------+
| Interest paid | | (1,927) | (1,638) |
+--------------------------------------------+------+------------+------------+
| Tax Paid | | (501) | (1,419) |
+--------------------------------------------+------+------------+------------+
| | | | |
+--------------------------------------------+------+------------+------------+
| Net cash from /(used in) operating | | 2,073 | (2,010) |
| activities | | | |
+--------------------------------------------+------+------------+------------+
| Cash Flow from Investing Activities: | | | |
+--------------------------------------------+------+------------+------------+
| Purchase of property, plant and equipment | | (6,812) | (268) |
+--------------------------------------------+------+------------+------------+
| Proceeds from disposal of property, plant | | 12 | |
| and equipment | | | |
+--------------------------------------------+------+------------+------------+
| Purchase of other investments | | - | (800) |
+--------------------------------------------+------+------------+------------+
| Interest received | | 761 | 521 |
+--------------------------------------------+------+------------+------------+
| Net cash used in investing activities | | (6,039) | (547) |
+--------------------------------------------+------+------------+------------+
| Cash Flow from Financing Activities: | | | |
+--------------------------------------------+------+------------+------------+
| Escrow Account/Loan | | - | (5,768) |
+--------------------------------------------+------+------------+------------+
| Increased in fixed deposits pledged | | (1,864) | (4,026) |
+--------------------------------------------+------+------------+------------+
| Drawdown of bank borrowings | | 2,461 | 8,131 |
+--------------------------------------------+------+------------+------------+
| Repayment of finance leases payables | | (107) | (3) |
+--------------------------------------------+------+------------+------------+
| Net cash from / (used in) financing | | 490 | (1,661) |
| activities | | | |
+--------------------------------------------+------+------------+------------+
| Net (decrease) in cash and cash | | (3,476) | (4,218) |
| equivalents | | | |
+--------------------------------------------+------+------------+------------+
| Cash and cash equivalent at beginning of | | (8,567) | (4,321) |
| the financial year | | | |
+--------------------------------------------+------+------------+------------+
| Cash and cash equivalent at the end of the | | (12,043) | (8,539) |
| financial period | | | |
+--------------------------------------------+------+------------+------------+
| Cash and cash equivalent at the end of the | | | |
| financial period comprises | | | |
+--------------------------------------------+------+------------+------------+
| Fixed deposits with licensed banks | | 34,236 | 25,052 |
+--------------------------------------------+------+------------+------------+
| Cash and Bank balances | | (7) | 2,772 |
+--------------------------------------------+------+------------+------------+
| Bank overdrafts | 10 | (12,036) | (11,311) |
+--------------------------------------------+------+------------+------------+
| Less: fixed deposits pledged to licensed | | (34,236) | (25,052) |
| banks | | | |
+--------------------------------------------+------+------------+------------+
| | | (12,043) | (8,539) |
+--------------------------------------------+------+------------+------------+
Notes to the Half-yearly Interim Financial Statements
1. Basis of
preparation
This condensed set of financial statements for the six months ended 30 June 2009
is unaudited and does not constitute statutory accounts as defined in section
434 of the Companies Act 2006. They have been prepared using accounting bases
and policies consistent with those used in the preparation of the financial
statements of the Company and the Group for the year ended 31 December 2008 and
those to be used in the year ending 31 December 2009. The financial statements
for the year ended 31 December 2008 have been delivered to the Registrar of
Companies and the auditors' report on those financial statements was (i)
unqualified (ii) did not include a reference to any matters to which the
auditors drew attention by way of emphasis without qualifying their report, and
(iii) did not contain a statement under section 237(2) or (3) of the Companies
Act 1985.
Information required by AIM rule 26 is available in the investor relations
section of Asia Resources' website at www.asiaresourcesplc.co.uk. The Company's
shares are traded on AIM, a market operated by the London Stock Exchange.
This half-yearly financial report was approved by the Board of Directors on 30
September 2009.
2. Accounting policies
These condensed consolidated half-yearly financial statements for the half-year
ended 30 June 2009 have been prepared in accordance with IAS 34, Interim
Financing Reporting, as adopted by the European Union. These condensed
consolidated financial statements should be read in conjunction with the annual
financial statements for the year ended 31 December 2008 which have been
prepared in accordance with IFRSs as adopted by the European Union.
Change in accounting policies
In the current financial year, the Group will adopt International Financial
Reporting Standard 8 "Operating segments" (IFRS 8) for the first time. As IFRS 8
is a disclosure standard, there is no impact of that change in accounting policy
on the results, or financial position in, the interim financial statements. Full
details of the change will be disclosed in our annual report for the year ended
31 December 2009.
3. Business segments
A business segment is a group of assets and operations engaged in providing
products or services that are subject to risks and returns that are different
from those of other business segments. A geographical segment is engaged in
providing products, or services, within a particular economic environment that
are subject to risks and returns that are different from those of segments
operating in other economic environments. The group only has one operating and,
in the directors' opinion, business segmental analysis is therefore not
required.
Business segments - the purchase and reprocessing of scrap gold and the
reselling of the resulting bullion. There is ancillary trading in other precious
metals and stones and craftsmanship but these are not considered significant.
Geographical segments - one geographical segment, being Malaysia.
4. Tax Charges
The half year tax charge is accrued based on the estimated average annual income
tax rate of 26 per cent (12 months ended 31 December 2008: 26 per cent)
5. Goodwill
+----------------------------------------------+------+----------+----------+----------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+----------------------------------------------+------+----------+----------+----------+
| | | | | |
+----------------------------------------------+------+----------+----------+----------+
| Goodwill on consolidation | | | | |
+----------------------------------------------+------+----------+----------+----------+
| At the beginning of the period | | 19,039 | 211 | 211 |
+----------------------------------------------+------+----------+----------+----------+
| Reverse takeover of Asia Resources plc | | - | 18,682 | 18,828 |
+----------------------------------------------+------+----------+----------+----------+
| At the end of period | | 19,039 | 18,893 | 19,039 |
+----------------------------------------------+------+----------+----------+----------+
6. Other investment
+----------------------------------------------+------+----------+----------+----------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+----------------------------------------------+------+----------+----------+----------+
| | | | | |
+----------------------------------------------+------+----------+----------+----------+
| Available-for-sale investment | | 1,157 | 1,200 | 1,157 |
+----------------------------------------------+------+----------+----------+----------+
7a. Property, plant and equipment
+----------------------------------------------+------+----------+----------+----------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+----------------------------------------------+------+----------+----------+----------+
| | | | | |
+----------------------------------------------+------+----------+----------+----------+
| At the beginning of the period | | 9,623 | 9,382 | 9,382 |
+----------------------------------------------+------+----------+----------+----------+
| Additions | | 6,859 | 355 | 1,912 |
+----------------------------------------------+------+----------+----------+----------+
| Disposals | | (2) | (520) | (156) |
+----------------------------------------------+------+----------+----------+----------+
| Depreciation charge for the period/year | | (1,168) | (743) | (1,486) |
+----------------------------------------------+------+----------+----------+----------+
| Write off | | - | - | (29) |
+----------------------------------------------+------+----------+----------+----------+
| At the end of period | | 15,312 | 8,474 | 9,623 |
+----------------------------------------------+------+----------+----------+----------+
7b. Investment Properties
+----------------------------------------------+------+----------+----------+----------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+----------------------------------------------+------+----------+----------+----------+
| | | | | |
+----------------------------------------------+------+----------+----------+----------+
| At the beginning of the period | | 1,373 | 1,409 | 1,409 |
+----------------------------------------------+------+----------+----------+----------+
| Additions | | - | 514 | - |
+----------------------------------------------+------+----------+----------+----------+
| Disposals | | - | - | - |
+----------------------------------------------+------+----------+----------+----------+
| Depreciation charge for the period/year | | (24) | (46) | (36) |
+----------------------------------------------+------+----------+----------+----------+
| At the end of period | | 1,349 | 1,877 | 1,373 |
+----------------------------------------------+------+----------+----------+----------+
8. Prior year adjustment
During 2007, the Group entered into a sale agreement to dispose of TNK Trading
(m) Sdn. Bhd ("TNK")., which had carried out all of the Group's money lending
operations. The disposal was completed on 10 May 2007 and resulted in a
receivable of MYR 676,000 for the unpaid consideration. The consideration was
never received by the Group and TNK did not trade from 2007 to 2009. In 2009 the
Group applied to the High Court of Shah Alam, Selangor, Malaysia and the court
directed that the original sale of shares be nullified. The Group has therefore
reinstated TNK as a subsidiary by means of a prior year adjustment to the 2007
accounts. The prior year adjustment has resulted in an increase in payables of
MYR 2.1 million and a corresponding decrease in retained earnings.
9. Earnings per share
From continuing operations
+--------------------------------------+-----+--------------+-------------+-------------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+--------------------------------------+-----+--------------+-------------+-------------+
| | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| Number of shares | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| Weighted average number of ordinary | | 149,836,364 | 149,836,364 | 149,836,364 |
| shares for | | | | |
| the purposes of basic earnings per | | | | |
| share | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| Earnings | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| Net profit attributable to equity | | 1,546,000 | 2,028,000 | 2,912,000 |
| holders of the parent | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| Earnings from continuing operations | | 1.03c | 1.35c | 1.94c |
| for the purpose | | | | |
| of basic earnings per share | | | | |
| excluding | | | | |
| discontinued operations | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
| There are no dilutive options in | | | | |
| existence. | | | | |
+--------------------------------------+-----+--------------+-------------+-------------+
10. Bank Borrowings
+------------------------------------------+-------+-----------+----------+----------+
| | | 30.06.09 | 30.06.08 | 31.12.08 |
| | | MYR'000 | MYR'000 | MYR'000 |
+------------------------------------------+-------+-----------+----------+----------+
| | | | | |
+------------------------------------------+-------+-----------+----------+----------+
| Current Bank Borrowings | | 70,707 | 64,666 | 67,823 |
+------------------------------------------+-------+-----------+----------+----------+
| Long Term Bank borrowings | | 3,659 | 2,456 | 3,403 |
+------------------------------------------+-------+-----------+----------+----------+
| | | 74,366 | 67,122 | 71,226 |
+------------------------------------------+-------+-----------+----------+----------+
| Loans | | (62,330) | (55,811) | (60,188) |
+------------------------------------------+-------+-----------+----------+----------+
| Bank Overdrafts | | 12,036 | 11,311 | 11,038 |
+------------------------------------------+-------+-----------+----------+----------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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