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					SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

CONDENSED BALANCE SHEET AS AT 31 OCTOBER 2009
(The figures have not been audited)
                                                                        As At
                                                        As At End      Preceding
                                                        Of Current     Financial
                                                         Quarter       Year End
                                                         31.10.09       31.7.09
                                                         RM'000         RM'000

ASSETS
Non-current assets
Property, plant and equipment                                13,921        11,544
Prepaid land lease payments                                   2,960         2,977
Intangible assets                                             4,819         4,878
                                                             21,700        19,399
Current assets
Inventories                                                  37,243        39,026
Receivables                                                  34,500        30,266
Other receivables and deposits                                9,332         6,634
Tax recoverable                                                 562           672
Cash and bank balances                                        2,315         3,294
                                                             83,952        79,892
Non-current assets held for sale                                147           147
                                                             84,099        80,039
TOTAL ASSETS                                                105,799        99,438

 EQUITY & LIABILITIES
 Equity attributable to equity holders of the Company
Share capital                                                62,500        62,500
Share premium                                                    21            21
Treasury shares                                                 (71)          (63)
Translation reserves                                            (24)          143
Retained profits                                             18,583        15,827
                                                             81,009        78,428
Minority interest                                               755         1,263
Total equity                                                 81,764        79,691

Non-current liabilities
Deferred taxation                                               859           860
Long term liabilities                                           709         1,199
                                                              1,568         2,059
Current liabilities
Payables                                                      4,613         8,015
Other payables and accruals                                   2,356         2,336
Amount owing to director                                        697           697
Short term borrowings                                        13,910         6,312
Provision for taxation                                          891           328
                                                             22,467        17,688
Total liabilities                                            24,035        19,747
TOTAL EQUITY & LIBILITIES                                   105,799        99,438
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE FIRST QUARTER ENDED 31 OCTOBER 2009
(The figures have not been audited)

                                          Individual Quarter                Cumulative Quarter
                                                     Preceding Year                   Preceding Year
                                    Current Year     Corresponding    Current Year     Corresponding
                                      Quarter            Quarter        To Date           Quarter
                                     31.10.09           31.10.08       31.10.09           31.10.08
                                      RM'000            RM'000          RM'000            RM'000

Revenue                                   17,732            23,304         17,732            23,304

Operating expenses                       (14,979)          (19,913)       (14,979)          (19,913)

Other operating income                       655             1,305            655             1,305


(Loss)/ Profit from operations             3,408             4,696          3,408             4,696

Finance cost                                (225)             (191)          (225)             (191)


Profit before tax                          3,183             4,505          3,183             4,505

Taxation                                    (888)           (1,027)          (888)           (1,027)


Net (loss)/ profit for the period          2,295             3,478          2,295             3,478

Attributable to
Equity holders of the parent               2,756             2,741          2,756             2,741

Minority interest                           (461)              737           (461)              737

                                           2,295             3,478          2,295             3,478


Basic earnings per share (sen)              2.20              2.19           2.20              2.19

Note :
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE FIRST QUARTER ENDED 31 OCTOBER 2009
(The figures have not been audited)



                                    ------------- Attributable to Equity Holders of the Parent-------------   Minority    Total
                                                        Non-distributable          Distributable              Interest    Equity
                                   Share        Share Treasury Translation            Retained
                                  Capital Premium Shares               Reserve         Profits       Total
                                  RM'000 RM'000 RM'000                 RM'000         RM'000        RM'000    RM'000      RM'000

First quarter ended
31.10.09

Balance at 1.8.2009                62,500         21         (23)          (348)        15,827     77,977        1,263     79,240

Currency translation difference       -           -          -              324             -         324          (47)       277

Net profit for the period             -           -          -              -            2,756      2,756         (461)     2,295

Shares acquired/disposed              -           -          (48)           -               -          (48)        -           (48)

Balance at 31.10.2009              62,500         21         (71)           (24)        18,583     81,009          755     81,764




First quarter ended
31.10.08

Balance at 1.8.2008                62,500         21         -              -           13,084     75,605        1,689     77,294

Currency translation difference       -           -          -             (348)            -         (348)        -         (348)

Net profit for the period             -           -          -              -            2,671      2,671          411      3,082

Shares acquired/disposed              -           -          (23)           -               -          (23)     (1,385)     (1,408)

Balance at 31.10.2008              62,500         21         (23)          (348)        15,755     77,905          715     78,620




Note :
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

CONDENSED CONSOLIDATED CASH FLOW STATEMENT
FOR THE FIRST QUARTER ENDED 31 OCTOBER 2009
(The figures have not been audited)
                                                        Cumulative         Cumulative
                                                        Current Year     Preceding Year
                                                          Quarter            Quarter
                                                         31.10.09           31.10.08
                                                          RM'000            RM'000
Cash flows from operating activities
Profit before taxation                                          3,183            4,505

Adjustments for :
- Non-cash items                                                  58               338
- Non-operating items                                            155               191

Operating profit before working capital changes                 3,396            5,034

Inventories                                                     1,783             (751)
Receivables                                                    (6,932)          (9,435)
Payables                                                       (3,382)          (1,006)
Cash used in operations                                        (5,135)          (6,158)
Interest paid                                                    (225)            (191)
Income tax paid                                                  (216)            (348)
Net cash used in operating activities                          (5,576)          (6,697)

Cash flows from investing activities
Proceeds from disposal of property, plant & equipment              85              -
Purchase of property, plant and equipment                      (2,715)            (106)
Net cash used in investing activities                          (2,630)            (106)

Cash flows from financing activities
Bankers acceptance                                              2,719            4,785
Drawdown of factoring liabilities                                 534              -
Repayment of bank borrowings                                     (389)            (570)
Net cash from financing activities                              2,864            4,215

Net increase in cash and cash equivalents                      (5,342)          (2,588)
Effect of foreign exchange rate difference                        (63)            (202)
Cash and cash equivalents at beginning                          3,476            6,548
Cash and cash equivalents at end                               (1,929)           3,758

Represented by:
Cash and bank balances                                          2,315            3,758
Bank overdrafts                                                (4,244)             -
                                                               (1,929)           3,758
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

SELECTED EXPLANATORY NOTES
31 OCTOBER 2009

1.   Basis of Preparation
     The interim financial statements are unaudited and have been prepared in compliance with Financial Reporting
     Standards (“FRS”) 134 Interim Financial Reporting and Chapter 9 part K of the Listing Requirements of the
     Bursa Malaysia Securities Berhad (“Bursa Malaysia”).

     The interim financial statements should be read in conjunction with the audited financial statements for the year
     ended 31 July 2009. These explanatory notes attached to the interim financial statements provide an explanation
     of events and transactions that are significant to an understanding of the changes in the financial position and
     performance of Sequoia Holdings Berhad. (“Sequoia” or “Company”) and its subsidiary companies (hereinafter
     referred to as the “Group”) since the financial year ended 31 July 2009.

     The same accounting policies and methods of computation are followed in the interim financial statements as
     compared with the financial statements for the financial year ended 31 July 2009.


2    Audit Report
     The auditors' report on the financial statements for the year ended 31 July 2009 was not qualified.



3    Seasonality or Cyclicality
     As the Group is basically involved in the distribution of fashion apparels, major festivals and carnival sales
     have an impact on revenue and earnings.



4    Exceptional items
     There were no exceptional items for the current period under review.



5    Estimates
     There were no changes to the estimates that have been used in the preparation of the current financial
     statements.

6    Issuance or repayment of debt/equity securities
     There were no issuance or repayment of debt or equity securities for the current financial year to date.



7    Dividends
     No dividend has been proposed for the current financial period to date.

     A first and final dividend of 3% less tax has been proposed for the previous financial year ended 31st July
     2009 which, if approved at the forthcoming Annual General Meeting, will be payable on 8th February 2010.
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

SELECTED EXPLANATORY NOTES
31 OCTOBER 2009

8    Segmental Reporting
      Business segments
      The Group is principally engaged in the manufacturing, marketing, distribution and retailing of jeanswear,
      other fashion apparels and accessories. Business segmental information has therefore not been prepared as the
      Group’s revenue, operating profit, assets employed, liabilities, capital expenditure, depreciation and non-cash
      expenses are mainly confined to one business segment.

      Geographical Segments
      The business segment of the Group is managed principally in Malaysia and its products are distributed mainly
      in Malaysia and the United Kingdom.

      In presenting information on the basis of geographical segments, segment revenue is based on the geographical
      location of customers whereas segment assets are based on the geographical location of assets.



                                                                            Current Quarter
                                                                               31.10.09
                                                                                Total        Capital
                                                                    Revenue     assets     expenditure
                                                                    RM'000     RM'000        RM'000

     Malaysia                                                           15,024       89,058           2,699
     United Kingdom                                                      2,708       16,741              16

                                                                        17,732      105,799           2,715



                                                                          Current Year To Date
                                                                                31.10.09
                                                                                  Total      Capital
                                                                    Revenue      assets    expenditure
                                                                    RM'000      RM'000       RM'000

     Malaysia                                                           15,024       89,058           2,699
     United Kingdom                                                      2,708       16,741              16

                                                                        17,732      105,799           2,715




9    Valuation of Property, Plant and Equipment
     There were no changes in the valuation of property, plant and equipment since the last audited financial
     statements for the year ended 31 July 2009.

10   Subsequent Events
     In the opinion of the directors, there were no material events that have arisen between the end of the
     reporting quarter and the date of this announcement.
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

SELECTED EXPLANATORY NOTES
31 OCTOBER 2009

11   Change In The Composition of The Group
     There were no change in the composition of the Group for the financial year to date.

12   Contingent Liabilities and Contingent Assets
     There were no contingent liabilities and contingent assets of a material nature as at the date of this report.

13   Capital Commitments
     There are no outstanding capital commitments at the end of the current quarter.

14   Review Of Performance
     The Group achieved revenue of RM17.7 million, which was 24% lower than the RM23.3 million achieved for
     the previous year as consumer demand and the retail sector continued to show slow recovery from the global
     economic crisis. As a result, profit before tax achieved was RM3.2 million which was lower than the RM4.5
     million achieved in the previous period.


15    Material change in profit before taxation as compared to preceding quarter
      Turnover for this quarter of RM17.7 million was slightly higher than RM17.5million achieved in the previous
      quarter. The slight increase in sales for this quarter was due to the festive season. This quarter recorded a profit of
      RM3.2million as opposed to the loss of RM0.3million for the previous quarter due to the sales of new items with
      higher margins.



16   Current Year Prospects
     We would expect a more stable and favourable economic outlook for the year, in view of the indirect impact of
     the government's stimulus packages . The Board expects its performance in the current year to 31st July 2010 to
     continue to be satisfactory.
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

SELECTED EXPLANATORY NOTES
31 OCTOBER 2009



17   Taxation
                                                                     Current Year            Current Year
                                                                       Quarter                 To Date
                                                                      31.10.09                31.10.09
                                                                       RM'000                  RM'000
     Taxation comprise the following :
     Based on profit for the period :
     - Current tax                                                           888                       888
     - Deferred taxation                                                       -                         -
                                                                             888                       888

     Reconcilitation of statutory tax rate to effective tax rate :
                                                                     Current Year            Current Year
                                                                       Quarter                 To Date
                                                                      31.10.09                31.10.09
                                                                          %                       %

     Statutory tax rate                                                       25                           25
     Different tax rates in other countries                                  -                              -
     (Over)/ Underprovision in previous quarters                               3                            3
                                                                              28                           28


18   Unquoted Investments / Properties
     There were no sale of unquoted investments and properties for the current quarter under review.

19   Purchase or Disposal of Quoted Securities
     (a) There were no purchases or disposals of quoted securities for the current quarter under review.
     (b) There were no investments in quoted securities as at the end of the reporting period.

20   Corporate Proposals

     Twoagentsee International Ltd, a subsidiary of the company, had signed a Memorandum of Understanding on
     24th April 2009 with BGT Corporation PCL("BGT") of Thailand for BGT to market products under the brand
     name of "Peoples Market". Both parties are still in the process of finalizing details for a formal agreement on
     the cooperation.
SEQUOIA HOLDINGS BERHAD
Company No. 570396-D

SELECTED EXPLANATORY NOTES
31 OCTOBER 2009

21   Group Borrowings and Debt Securities

                                       Unsecured                     Secured                      Total
     Group borrowings                   RM'000                       RM'000                      RM'000

     Short term
     Bank Overdraft                              -                        4,244                       4,244
     Bankers acceptance                          -                        7,752                       7,752
     Term loans                                  -                        1,380                       1,380
     Factoring liabilities                       -                          534                         534
                                                 -                       13,910                      13,910

     Long term
     Term loans                                  -                          709                         709
                                                 -                          709                         709

     Total                                       -                       14,619                      14,619



22   Off Balance Sheet Financial Instruments
     The Group does not have any financial instruments with off balance sheet risk as at the date of this report.

23   Material Litigation
     The Group does not have any material litigation as at the date of this report.

24   Basis of calculation of earnings per share
     The basic earnings per share for the quarter and cumulative year to date are computed as follow:

                                                                    Indivdual                  Cumulative
                                                                   Current Year                Current Year
                                                                     Quarter                     To Date
                                                                    31.10.09                    31.10.09

     Net Profit for the period (RM'000)                                   2,756                       2,756


     Weighted average number of ordinary
      shares in issue ('000)                                           125,000                     125,000


     Basic Earnings Per Share (sen)                                        2.20                         2.20


     There is no diluted earnings per share as the Company does not have any convertible financial instruments
     as at the end of the reported quarter and year.

				
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