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					                                                                                                                     Printed On : 2/15/2012
                                                   UNITED CHEMICAL INDUSTRIES BERHAD
                                                                                                                                   5:09 PM
                                                                  (5990-P)
                                                         (Incorporated in Malaysia)

                             CONDENSED CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2005

                                                                                         As At                As At
                                                                                       31/03/2005           31/12/2004
                                                                        Notes             (RM)                 (RM)

                Share Capital                                             1               18,500,000           18,500,000

                Reserves                                                  2              (83,700,342)         (81,946,350)

                Net Deficit in Shareholders' Funds                                       (65,200,342)         (63,446,350)

                Deferred Liabilities                                                             -                    -

                                                                                         (65,200,342)         (63,446,350)

                Represented by :-

                Current Assets
                  Property, Plant and Equipment                                            4,093,583            4,093,583
                  Inventories                                                                    -                    -
                  Debtors                                                 3                3,548,360            3,526,860
                  Tax Recoverable                                                                -                    -
                  Deposits with a licensed bank                                                  -                    -
                  Cash and Bank Balances                                                     251,704              298,784

                                                                                           7,893,647            7,919,227

                Current Liabilities
                  Creditors                                               4                7,776,975            7,687,543
                  Hire Purchase Creditors                                                     17,903               19,046
                  Bank Borrowings                                         5               64,080,193           62,440,070
                  Provision for Retrenchment Benefits                                      1,218,918            1,218,918
                  Provision for Retirement Benefits                                              -                    -

                                                                                          73,093,989           71,365,577

                Net Current Assets / (Liabilities)                                       (65,200,342)         (63,446,350)

                                                                                         (65,200,342)         (63,446,350)

                                                                                                       0                    0




                Note :-

                The Condensed Consolidated Balance Sheet should be read in conjunction with the Annual Report for
                the year ended 2004.




File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso BS)                                                                              1
                                                                                                                                        Page 1 of 6
                                                        UNITED CHEMICAL INDUSTRIES BERHAD                                  Printed On : 2/15/2012
                                                                                                                                          5:09 PM
                                                                       (5990-P)
                                                              (Incorporated in Malaysia)

                               CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED
                                                     31 MARCH 2005


                                                                     1st Quarter     1st Quarter     Year-To-Date     Year-To-Date
                                                                     31/03/2005      31/03/2004       31/03/2005       31/03/2004
                                                             Notes      (RM)            (RM)             (RM)             (RM)

          Revenue                                                             -               -                -                -

          Cost of Sales                                                       -               -                -                -

          Gross Profit / (Loss)                                               -               -                -                -

          Other Operating Income                                          61,500         591,500           61,500          591,500

          Sales and Marketing Expenses                                        -               -                -                -

          Administration Expenses                                       (174,934)       (159,001)         (174,934)       (159,001)

          Other Operating Expenses                                            -               -                -                -

          LOSS FROM OPERATIONS                                          (113,434)        432,499          (113,434)        432,499

          Finance Cost                                                 (1,640,558)     (1,490,381)      (1,640,558)     (1,490,381)

          LOSS BEFORE TAXATION                                         (1,753,992)     (1,057,882)      (1,753,992)     (1,057,882)

          Taxation                                                            -               -                -                -

          NET LOSS FOR THE PERIOD ENDED                                (1,753,992)     (1,057,882)      (1,753,992)     (1,057,882)




          Loss per Ordinary Shares (sen)
            Before Taxation                                                  9.48            5.72             9.48            5.72
            After Taxation                                                   9.48            5.72             9.48            5.72


          Note :-

          The Condensed Consolidated Income Statement should be read in conjunction with the Annual Report
          for the year ended 2004.




File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso IS)                                                                                     2
                                                                                                                                              Page 2 of 6
                                                                                                                          Printed On : 2/15/2012
                                                   UNITED CHEMICAL INDUSTRIES BERHAD
                                                                                                                                        5:09 PM
                                                                   (5990-P)
                                                          (Incorporated in Malaysia)

                        CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS AT 31 MARCH 2005



                                                                                     As At                 As At
                                                                                   31/03/2005            31/12/2004
                                                                                      (RM)                  (RM)

             1.   Share Capital

             Authorised :-
               30,000,000 ordinary shares of RM1.00 each                             30,000,000             30,000,000

             Issued and fully paid :-
                18,500,000 ordinary shares of RM1.00 each                            18,500,000             18,500,000


             2.   Reserves

             Share premium                                                            1,481,086              1,481,086
             (Accumulated loss) / Retained profit                                   (86,881,428)           (85,127,436)
             Capital reserve                                                          1,700,000              1,700,000

                                                                                    (83,700,342)           (81,946,350)


             3. Debtors

             Trade debtors                                                              857,418                835,918
             Less : Provision for doubtful debts                                       (835,696)              (835,696)

                                                                                         21,722                    222

             Other debtors                                                            3,678,941              3,678,941
             Less : Provision for doubtful debts                                       (152,303)              (152,303)

                                                                                      3,526,638              3,526,638


                                                                                      3,548,360              3,526,860


             4. Creditors

             Trade creditors                                                            891,336                891,336
             Other creditors                                                          6,620,269              6,530,837
             Amount owing to a director                              4(a)               265,370                265,370

                                                                                      7,776,975              7,687,543

             (a) The amount owing to a director represents short term advance from Tan Sri Abdul Aziz Abdul Rahman, and
                 is unsecured and interest free.




File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso Notes)                                                                                 6
                                                                                                                                             Page 3 of 6
                                                                                                      Printed On : 2/15/2012
                                                   UNITED CHEMICAL INDUSTRIES BERHAD
                                                                                                                    5:09 PM
                                                                   (5990-P)
                                                          (Incorporated in Malaysia)

                        CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS AT 31 MARCH 2005




             5. Bank Borrowings

             SECURED
              Term Loan (Bank Industri & Teknologi)                            892,831      892,831
                Interest                                                       327,387      302,497
              Revolving Loan (Bank Industri & Teknologi)                     1,458,274    1,458,274
                Interest                                                       896,544      837,297
              Syndicated Term Loan (Affin Merchant Bank)
                Drawndown on 23 January 1997                                30,000,000   30,000,000
                Interest                                                    22,560,353   21,174,954

                                                                            56,135,390   54,665,853

             UNSECURED
              Term Loan (RHB)                                                3,777,198    3,777,198
                Interest                                                     1,667,776    1,537,627
              Revolving Credit (UOB)                                         1,500,000    1,500,000
                Interest                                                       284,476      260,659
              Bank Overdraft (UOB)                                             715,353      698,733

                                                                             7,944,803    7,774,217


             Secured                                                        56,135,390   54,665,853
             Unsecured                                                       7,944,803    7,774,217

                 Total Borrowings                                           64,080,193   62,440,070




File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso Notes)                                                             6
                                                                                                                         Page 4 of 6
                                                                                                                   Printed On : 2/15/2012
                                                    UNITED CHEMICAL INDUSTRIES BERHAD
                                                                                                                                 5:09 PM
                                                                   (5990-P)
                                                          (Incorporated in Malaysia)

                                CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
                                          FOR THE YEAR ENDED 31 MARCH 2005


                                                                                              Retained Profit/
                                                        Share         Share      Capital       (Accumulated
                                                        Capital      Premium     Reserve           Loss)           Total
                                                         (RM)          (RM)       (RM)             (RM)            (RM)

             Balance as at 31/12/2003                  18,500,000    1,481,086   1,700,000       (78,940,999)    (57,259,913)

             Net loss for the year                               -         -           -           (6,186,437)    (6,186,437)

             Balance as at 31/12/2004                  18,500,000    1,481,086   1,700,000       (85,127,436)    (63,446,350)

             Net loss for the period                             -         -           -           (1,753,992)    (1,753,992)

             Balance as at 31/03/2005                  18,500,000    1,481,086   1,700,000       (86,881,428)    (65,200,342)


             Note :-

             The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the
             Annual Report for the year ended 2004.




File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso Equity)                                                                         3
                                                                                                                                      Page 5 of 6
                                                        UNITED CHEMICAL INDUSTRIES BERHAD                                   Printed On : 2/15/2012
                                                                                                                                           5:09 PM
                                                                        (5990-P)
                                                               (Incorporated in Malaysia)

                             CONDENSED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED
                                                     31 MARCH 2005

            UNITED CHEMICAL INDUSTRIES BERHAD:                                       Year-To-Date         Year-To-Date
                                                                                      31/03/2005           31/12/2004
                                                                                         (RM)                 (RM)

            CASH FLOWS FROM OPERATING ACTIVITIES

             (Loss) / Profit Before Taxation                                             (1,753,992)          (6,186,437)

             Adjustments For :-
               Depreciation                                                                    -                    -
               Provision For Retrenchment Benefits                                             -                    -
               Provision For Retirement Benefits                                               -                    -
               Provision For Retirement Benefits Written Back                                  -                    -
               Allowance For Doubtful Debts                                                    -                159,281
               Allowance For Doubtful Debts Written Back                                       -                 (9,500)
               Bad Debts Written Off Written Off                                               -                    -
               Interest Expenses                                                         1,640,513            5,758,175
               (Gain) / Loss On Disposal Of Plant and Equipment                                -                  1,635
               (Gain) / Loss On Disposal Of Goodwill                                           -
               Impairment Loss of Investment in Subsidiary Company                             -                    -
               Inventories Written Off                                                         -                262,429
               Interest Income                                                                 -                    -

             Operating (Loss) / Profit Before Working Capital Changes                     (113,479)             (14,417)

                Decrease / (Increase) In Inventories                                           -                     -
                Decrease / (Increase) In Debtors                                           (21,500)           (2,478,628)
                (Decrease) / Increase In Creditors                                          89,433             2,711,243

             Cash (Used In) / Generated From Operations                                    (45,545)             218,198

                Tax Paid                                                                       -                    -
                Tax Refund                                                                     -                    -
                Retirement Benefits Paid                                                       -                    -
                Retrenchment Benefits Paid                                                     -                    -
                Interest Paid                                                              (17,010)             (64,215)

             Net Cash (Used In) / From Operating Activities                                (62,555)             153,983


            CASH FLOWS FROM INVESTING ACTIVITIES

             Purchase Of Property, Plant and Equipment                                          -                     -
             Proceeds From Disposal Of Plant and Equipment                                                            301
             Proceeds From Sales Of Goodwill                                                    -
             Interest received                                                                  -                     -

             Net Cash Used In Investing Activities                                              -                     301


            CASH FLOWS FROM FINANCING ACTIVITIES

             Term Loan Obtained                                                                 -                    -
             Bank Overdraft                                                                     -                    -
             Hire Purchase Installment Paid                                                  (1,143)              (4,572)
             Net (Repayment) / Drawdown Of Bank Borrowings                                      -                    -

             Net Cash From Financing Activities                                              (1,143)              (4,572)


            NET INCREASE / (DECREASE) IN CASH AND CASH
            EQUIVALENTS                                                                    (63,698)             149,712

            Cash and Cash Equivalents At beginning Of Year                                (399,949)            (549,661)

            CASH AND CASH EQUIVALENTS AT END OF PERIOD                                    (463,647)            (399,949)

            CASH AND CASH EQUIVALENTS AT END OF PERIOD                                     251,704              298,784
            Cash and bank balances                                                        (715,351)            (698,733)
            Bank overdrafts                                                               (463,647)            (399,949)

            The Condensed Consolidated Cash Flow Statement should be read in conjunction with the Annual Report for
            the year ended 2004.



File : 5aaba796-e915-4030-8aae-b14392d883a2.XLS (Conso CF)                                                                                      4
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