Equity BalSheet Income Cashflow Depreciation RM Changes in working capital CASH FLOWS FROM by 5bcY1j3

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									GLOBAL CARRIERS BHD
Condensed Consolidated Statements of Cash Flow
                                                                     Cumulative              Cumulative
                                                                       6-month                 6-month
                                                                     Period up to            Period up to
                                                                      30-Jun-12               30-Jun-11
                                                                         RM                      RM

CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(Loss) before tax                                                    8,749,346           4,147,536

Adjustment for non-cash flow items:-
    Depreciation                                                            7,399,781           6,930,061
    (Gain) on reveluation of investment property                          (15,000,000)        (14,000,000)
    Property, plant & equipment written off                                     2,697                 -
    Interest income                                                           (30,361)            (11,502)
    Interest expense                                                        5,780,443           5,951,935
    Provision for doubtful debt no longer required                               (600)                -

Operating profit/(loss) before changes in working capital                   6,901,306           3,018,030

Changes in working capital

    Inventories                                                                   -                12,929
    Receivables                                                             2,310,932           1,512,756
    Payables                                                                7,429,810           7,221,251
Cash generated from operations                                            16,642,048           11,764,966
Tax paid                                                                    (334,545)                 -

Net cash flows from operating activities                                  16,307,503           11,764,966

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment                                  (4,083,470)         (4,299,254)
Interest received                                                              30,361              11,502
Sale proceed from disposals of property, plant & equipment                        -                   -
                                                                           (4,053,109)         (4,287,752)

CASH FLOWS FROM FINANCING ACTIVITIES

RULS redemption                                                                   -            (9,755,784)
Interest paid                                                              (3,631,504)         (5,951,935)
Drawdown of term loan                                                             -            20,000,000
Repayment of RCCSLS                                                               -              (155,052)
Repayment of term loan                                                     (8,169,710)         (9,896,840)
                                                                          (11,801,214)         (5,759,611)

CASH AND CASH EQUIVALENTS
Net changes in cash & cash equivalents                                        453,180           1,717,603
Cash & cash equivalents at beginning of the period                         (6,848,917)         (8,996,314)
Cash & cash equivalent at end of the period                                (6,395,737)         (7,278,711)



CASH AND CASH EQUIVALENTS COMPRISE:-
Cash and bank balances                                                      6,210,116           4,984,671
Fixed deposits with licence banks                                           1,990,670           2,209,077
Bank overdraft                                                            (14,596,523)        (14,472,459)
                                                                           (6,395,737)         (7,278,711)



This quarterly financial report must be read in conjunction with the 2011 Audited Financial Statements.

                                                                                  -                       -
GLOBAL CARRIERS BHD
Condensed Consolidated Statements Of Comprehensive Income

                                                                   Individual Quarter                          Cumulative Quarter
                                                                               Preceding Year                             Preceding Year
                                                             Current Year      Corresponding                6-month       Corresponding
                                                             Quarter Ended     Quarter Ended              Period up to     Period up to
                                                              30/06/2012         30/06/2011                30/06/2012       30/06/2011

                                                                   RM                   RM                   RM                RM

Revenue                                                             11,331,544          13,808,549           24,446,098       26,734,110

Operating Expenses                                                 (10,866,196)        (14,343,350)          (25,701,299)    (30,697,938)

Other Income                                                            24,707               (1,829)            756,725           51,797

Loss from Operations                                                   490,055            (536,630)            (498,476)      (3,912,031)

Finance Costs                                                       (2,850,624)         (2,964,241)           (5,780,443)     (5,951,935)

Investing Results                                                       24,665               5,595                30,361          11,502

Exceptional item
 Gain on revaluation of investment property                         15,000,000          14,000,000           15,000,000       14,000,000
 Gain on disposal of property, plant & equipment                           -                   -                    -                -
 Property, plant & equipment written off                                (2,697)                -                 (2,697)             -
 Provision for doubtful debt no longer required                            -                   -                    600              -

Profit/(Loss) before taxation                                       12,661,399          10,504,724            8,749,345        4,147,536

Taxation                                                              (334,545)                 -              (334,545)             -


Profit/(Loss) after taxation for the Quarter / Period               12,326,854          10,504,724            8,414,800        4,147,536

Attributable to :
 Equity holders of the Company                                      11,491,426           8,774,519            6,681,836        1,918,737
 Non-controlling Interest                                              835,428           1,730,205            1,732,964        2,228,799
                                                                    12,326,854          10,504,724            8,414,800        4,147,536

EPS - Basic (Sen)                                                         6.86                 5.24                 3.99            1.15




This quarterly financial report must be read in conjunction with the 2011 Audited Financial Statements.
Worksheet for EPS:-                                              cumulative
                                               Qtr                      Period

Number shares                                  167,447,010         167,447,010
                                               167,447,010   -     167,447,010


Profit attributable to ordinary shareholders    11,491,426           6,681,836
Profit attributable to ordinary shareholders    11,491,426   -       6,681,836

EPS - Basic                                           6.86                3.99
GLOBAL CARRIERS BHD
Condensed Consolidated Statements Of Financial Position

                                                                                                      Unaudited              Audited
                                                                                                         as at                 as at
                                                                                                     30 June 2012        31 December 2011
                                                                                                         RM                     RM
ASSETS
Non Current Assets
Property, Plant & Equipment                                                                               254,226,680          257,545,688
Investment Property                                                                                        55,000,000           40,000,000
Other Investment                                                                                                  611                  611

                                                                                                          309,227,291          297,546,299

Current Assets
 Inventories                                                                                                1,948,376            1,948,376
 Trade Receivables                                                                                            951,858            2,209,696
 Other Receivables                                                                                          2,136,935            3,189,429
 Tax recoverable                                                                                               42,116               42,116
 Fixed Deposits                                                                                             1,990,670            2,220,439
 Cash and Bank Balances                                                                                     6,210,116            5,650,813
                                                                                                           13,280,071           15,260,869


TOTAL ASSETS                                                                                              322,507,362          312,807,168



EQUITY AND LIABILITIES
Equity attributable to equity holders of the parent
 Share Capital                                                                                             83,723,505           83,723,505
 Redeemable Cumulative Convertible Secured Loan Stock (RCCSLS)                                                241,412              241,412
                                                                                                           83,964,917           83,964,917
  Share Premium                                                                                             5,379,421            5,379,421
  Accumulated Losses                                                                                      (37,171,564)         (43,853,400)
                                                                                                           52,172,774           45,490,938
 Non-controlling Interest                                                                                  33,534,797           31,801,833
Total Equity                                                                                               85,707,571           77,292,771

Non-current liabilities

  Redeemable Cumulative Convertible Secured Loan Stock (RCCSLS)                                             3,426,675            4,255,096
  Redeemable Unsecured Loan Stock (RULS)                                                                   19,511,573           19,511,572
  Borrowings                                                                                               96,292,871           97,280,261
                                                                                                          119,231,119          121,046,929

Current Liabilities
 Trade Payables                                                                                            20,566,433           18,897,196
 Other payables & accruals                                                                                 27,060,083           19,150,571
 Redeemable Cumulative Convertible Secured Loan Stock (RCCSLS)                                              1,913,785            1,085,364
 Redeemable Unsecured Loan Stock (RULS)                                                                     9,755,784            9,755,785
 Borrowings                                                                                                58,272,587           65,578,552
                                                                                                          117,568,672          114,467,468

Total Liabilities                                                                                         236,799,791          235,514,397

TOTAL EQUITY AND LIABILITIES                                                                              322,507,362          312,807,168


  Net assets per share attributable to ordinary equity holders (RM)                                              0.31                 0.27




This quarterly financial report must be read in conjunction with the 2011 Audited Financial Statements.


                                                                                                                    0                  -
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 GLOBAL CARRIERS BHD
 Condensed Consolidated Statement of Changes in Equity
 for the quarter ended 30 June 2012

                                                                                    Share                     RCCSLS              Share        Accumulated       Non-controlling
                                                                                    Capital               Equity Component       Premium          Losses            Interest       Total
                                                                                     RM                          RM                RM              RM                 RM           RM


Preceding Year Corresponding
Period up to 30 June 2011

As at 1 January 2011                                                                  83,723,505                    241,412        5,379,421     (37,074,166)        26,683,919    78,954,091

Acquisition of equity interest in subsidiaries companies                                           -                         -             -                 -                -            -

Cumulative (Loss)/Profit for the Period                                                            -                         -             -       1,918,737          2,228,799     4,147,536

As at 30 June 2011                                                                    83,723,505                    241,412        5,379,421     (35,155,429)        28,912,718    83,101,627


Cumulative 6-month Period
up to 30 June 2012

As at 1 January 2012                                                                  83,723,505                    241,412        5,379,421     (43,853,400)        31,801,833    77,292,771

Cumulative (Loss)/Profit for the Period                                                            -                         -             -       6,681,836          1,732,964     8,414,800

As at 30 June 2012                                                                    83,723,505                    241,412        5,379,421     (37,171,564)        33,534,797    85,707,571




This quarterly financial report must be read in conjunction with the 2011 Audited Financial Statements.

								
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