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									FORMIS RESOURCES BERHAD
Incorporated in Malaysia
CONDENSED CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2007

                                                                      Unaudited               Audited
                                                                     As at End of        As at Preceding
                                                                   Current Financial    Financial Year End
                                                                         Year
                                                                      31.03.2007            31.03.2006
                                                                        RM'000               RM'000
Non-Current Assets
Property, plant and equipment                                                  8,561                 17,914
Software development costs                                                     2,083                  2,810
Other investments                                                              7,262                  8,972
Investment properties                                                            637                  5,125
Development property                                                             -                   98,956
Goodwill on consolidation                                                    144,101                162,980

Total non-current assets                                                     162,644                296,757

Current Assets
Inventories                                                                   28,440                 32,732
Trade receivables                                                             99,087                119,886
Other receivables                                                             43,556                 25,993
Tax recoverables                                                               9,039                  5,488
Short term investments                                                         3,179                  3,722
Deposits with licensed banks                                                  31,315                 33,727
Cash and bank balances                                                        15,010                 10,843

Total current assets                                                         229,626                232,391

Assets classified as held for sale                                            97,150                     -

TOTAL ASSETS                                                                 489,420                529,148

EQUITY AND LIABILITIES
Equity attributed to equity holder of the parent
Share Capital                                                                185,901                185,901
Other Reserves                                                                 9,582                 10,229
Retained Earnings                                                              5,873                 16,082
                                                                             201,356                212,212
Minority interests                                                             8,689                 11,905

Total equity                                                                 210,045                224,117

Non-Current Liabilities
Borrowings                                                                    63,304                176,668
Provision for post-employment benefits                                            37                     39
Hire purchase and lease creditors                                                208                  1,003
Deferred tax liabilities                                                         584                    968

Total non-current liabilities                                                 64,133                178,678

Current Liabilities
Borrowings                                                                     9,174                 19,104
Trade payables                                                                40,570                 47,887
Other payables                                                                53,687                 57,915
Hire purchase and lease creditors                                             13,046                  1,364
Tax Liabilities                                                                2,265                     83

Total current liabilities                                                    118,742                126,353

Liabilities of a disposal group classified as held for sale                   96,500                     -

TOTAL EQUITY AND LIABILITIES                                                 489,420                529,148


(The Condensed Consolidated Balance Sheet should be read in conjunction with the annual financial
statements for the financial year ended 31 March 2006).


                                                               1
FORMIS RESOURCES BERHAD
Incorporated in Malaysia

CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2007
(The figures have not been audited)

                                               INDIVIDUAL QUARTER                      CUMULATIVE PERIOD

                                          CURRENT              PRECEDING YEAR      CURRENT        PRECEDING YEAR
                                            YEAR               CORRESPONDING       YEAR-TO-       CORRESPONDING
                                          QUARTER                 QUARTER            DATE             PERIOD
                                          31.03.2007              31.03.2006       31.03.2007        31.03.2006
                                           RM'000                  RM'000           RM'000            RM'000

Revenue                                         75,473                  59,782        286,078             144,978

Cost of sales                                  (54,281)                 (47,617)      (212,606)           (107,669)

Gross profits                                   21,192                  12,165         73,472               37,309

Other operating income                           1,035                   2,516           7,931               3,123

Other operating expenses                       (23,505)                 (17,297)       (80,307)            (41,340)

Finance costs                                   (1,353)                  (1,043)        (5,469)             (1,476)

Profits/(Loss) before tax                       (2,631)                  (3,659)        (4,373)             (2,384)

Tax expense                                        555                     723          (3,385)               (247)

Profits/(Loss) for the financial period         (2,076)                  (2,936)        (7,758)             (2,631)

Attributable to:-
Equity holders of the parent                    (3,432)                  (2,188)       (10,209)             (1,961)
Minority interests                               1,356                     (748)         2,451                (670)
Profit/(loss) for the financial period          (2,076)                  (2,936)        (7,758)             (2,631)

Earnings/(Loss) per share (sen)
-Basic                                            (2.02)                  (1.62)         (6.02)              (1.45)
-Diluted                                            -                       -              -                   -


(The Condensed Consolidated Income Statement should be read in conjunction with the annual financial statements for
the financial year ended 31 March 2006).




                                                           2
FORMIS RESOURCES BERHAD
Incorporated in Malaysia

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2007
(The figures have not been audited)
                                                                                 ----- Non-Distributable -----             Distributable
                                                                          Irredeemable
                                                                           convertible                                       Retained
                                                                            cumulative                        Exchange        profits/      Total attributable
                                                             Ordinary   preference shares        Share       fluctuation   (Accumulated     to equity holders     Minority
                                                              shares         ("ICPS")          premium         reserve        losses)         of the parent      interests      Total equity
                                                             RM'000           RM'000            RM’000         RM'000         RM'000             RM'000           RM'000          RM'000
Twelve Months Financial Year Ended 31 March 2007

Balance as at 1 April 2006                                    169,102                16,799       10,156             73           16,082             212,212         11,905         224,117

Exchange fluctuation reserves arising from
 translation of foreign subsidiary company during
 the financial year                                                -                      -               -        (235)               -                 (235)           -             (235)

Movement in Minority Interests arising from the disposal
 of a subsidiary companies and the acquisition of
 subsidiary companies                                              -                      -               -          -                 -                   -          (5,667)        (5,667)

Conversion of ICPS                                             14,667                     -               -          -                 -               14,667            -           14,667

Conversion of ordinary shares                                      -                 (14,667)             -          -                 -              (14,667)           -          (14,667)

Share issue expenses on the acquisition of Formis Holdings
 Berhad ("FHB") and Formis Systems & Technology Sdn Bhd            -                      -          (412)           -                 -                 (412)           -             (412)
 ("FST")

Net loss for the financial year                                    -                      -           -              -           (10,209)             (10,209)        2,451          (7,758)

Balance as at 31 March 2007                                   183,769                  2,132        9,744          (162)           5,873             201,356          8,689         210,045




                                                                                              3
FORMIS RESOURCES BERHAD
Incorporated in Malaysia

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Cont')
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2006

                                                                                       ----- Non-Distributable -----              Distributable
                                                                                Irredeemable                                        Retained
                                                                                 convertible                        Exchange         profits/      Total attributable
                                                                 Ordinary         cumulative           Share       fluctuation   (Accumulated      to equity holders     Minority
                                                                  shares      preference shares      premium         reserve         losses)         of the parent      interests      Total equity
                                                                 RM'000             RM'000            RM’000         RM'000          RM'000             RM'000           RM'000          RM'000
Twelve Months Financial Year Ended 31 March 2006

Balance as at 1 April 2005                                        130,789                  16,812            59            -             18,043             165,703           5,579        171,282

Issue of ordinary shares pursuant to:-
 - Proposed Subscription                                            25,300                      -         7,590            -                 -                32,890            -           32,890
 - Proposed Private Placement                                       13,000                      -         3,900            -                 -                16,900            -           16,900

Conversion of ICPS                                                      13                      -            -             -                 -                    13            -               13

Conversion of ordinary shares                                           -                      (13)          -             -                 -                   (13)           -              (13)

Share issue expenses                                                    -                       -        (1,393)           -                 -                (1,393)           -           (1,393)

Movement in Minority Interests arising from the acquisition
 of subsidiary companies                                                -                       -            -             -                 -                   -            6,996          6,996

Exchange fluctuation reserves arising from
 translation of foreign subsidiary company during
 the financial year                                                     -                       -            -             73                -                    73            -               73

Net profit for the financial year                                       -                       -            -             -             (1,961)              (1,961)          (670)        (2,631)

Balance as at 31 March 2006                                       169,102                  16,799       10,156             73            16,082             212,212          11,905        224,117




(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Financial Statements for the financial year ended 31 March 2006).




                                                                                                    4
FORMIS RESOURCES BERHAD
Incorporated in Malaysia

CONDENSED CONSOLIDATED CASH FLOW STATEMENT
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2007


                                                                        CUMULATIVE QUARTER
                                                                                 PRECEDING YEAR
                                                                   CURRENT
                                                                                 CORRESPONDING
                                                                 YEAR-TO-DATE
                                                                                      PERIOD
                                                                   31.03.2007        31.03.2006
                                                                    RM'000            RM'000
CASH FLOWS FROM OPERATING ACTIVITIES

Profit/(Loss) before tax                                                 (4,373)                   (2,383)
Adjustment for non-cash items                                            33,182                     7,910

Operating profit before working capital changes                          28,809                     5,527

Net changes in assets                                                   (25,035)                   (3,225)
Net changes in liabilities                                               (1,638)                    9,687

Net cash from operating activities                                        2,136                    11,989


CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of subsidiaries                                              (8,917)                  (86,195)
Disposal of subsidiaries                                                 23,292                       -
Equity investments                                                          -                      10,500 **
Other investments                                                         5,538                    (2,650)

Net cash from/(used in) investing activities                             19,913                   (78,345)


CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from issue of shares, net of issue cost                            -                      15,507
(Repayment to)/Drawndown from financial institutions                    (17,822)                   74,402

Net cash (used in)/from financing activities                            (17,822)                   89,909

Exchange differences                                                        -                           96

Net increase in cash and cash equivalents                                 4,227                    23,649

Cash and cash equivalents at 1 April 2006/2005*                          33,108                     9,459

Cash and cash equivalents at 31 March 2007/2006*                         37,335                    33,108


* Cash and cash equivalents at the beginning and end of the financial periods are net of deposits pledged
  to banks.

** Includes monies placed with stakeholder for completion of the proposed acquisition of FHB and FST.




(The Condensed Consolidated Cash Flow Statement should be read in conjunction with the Annual
Financial Statements for the financial year ended 31 March 2006).


                                                             5
FORMIS RESOURCES BERHAD ("FRB")
Notes to the Interim Financial Report
For the Fourth Quarter Ended 31 March 2007

 1 Basis of preparation

    The interim financial statements are unaudited and have been prepared in accordance with the requirements of Financial
    Reporting Standard ("FRS") 134, Interim Financial Reporting and paragraph 9.22 of the Listing Requirements of Bursa
    Malaysia Securities Berhad.

    The interim financial statements should be read in conjunction with the audited financial statements for the financial year
    ended 31 March 2006. The 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 the Group
    since the year ended 31 March 2006.

 2 Changes in accounting policies
    The significant accounting policies adopted are consistent with those of the audited financial statements for the year ended 31
    March 2006 except for the adoption of the following new/revised FRSs that are effective for accounting periods beginning on
    or after 1 January 2006.

       FRS 2                                 Share-based Payment
       FRS 3                                 Business Combinations
       FRS 5                                 Non-Current Assets Held For Sale and Discontinued Operations
       FRS 101                               Presentation of Financial Statements
       FRS 102                               Inventories
       FRS 108                               Accounting Policies, Changes in Accounting Estimates and Errors
       FRS 110                               Events after the Balance Sheet Date
       FRS 116                               Property, Plant and Equipment
       FRS 121                               The Effects of Changes in Foreign Exchange Rates
       FRS 127                               Consolidated and Separate Financial Statements
       FRS 128                               Investments In Associates
       FRS 131                               Interests in Joint Ventures
       FRS 132                               Financial Instruments: Disclosure and Presentation
       FRS 133                               Earnings Per Share
       FRS 136                               Impairment of Assets
       FRS 138                               Intangible Assets
       FRS 140                               Investment Property

    Revised FRSs which would be adopted from the financial period beginning 1 April 2007 are:

       FRS 117                               Leases
       FRS 124                               Related Party Disclosures

    Other than the adoption of FRS 5 and 101, the adoption of the new/revised FRSs does not have significant financial impact on
    the Group. The principal effects of the changes in accounting policies resulting from the adoption of the new/revised FRSs are
    summarised below:

    a) FRS 5: Non-Current Assets Held For Sale and Discontinued Operations
       Assets/Liabilities in subsidiary companies reclassified as non-current assets and disposal group held for
       sale are as follows:

       Non-current Assets                                                                               RM'000
         Property, plant and equipment ("PPE")                                                              3,500
         Development property (*)                                                                         91,000
         Investment properties                                                                              2,650
       Non-current Assets of a disposal group classified as held for sale                                   97,150


       Restructured banking facilities (#)
        Current                                                                                              5,500
        Non-current                                                                                         91,000
       Liabilities of a disposal group classified as held for sale                                          96,500

       (*) In view of the effort in complying to FRS 5, the development property in a subsidiary company has been reclassified as
       non-current assets held for sale. Due to this reclassification, the development property has been revalued on 8 August
       2006 to its market value to reflect its fair value in the book of FRB. The revalued amount was RM91 million and has given
       rise to a revaluation deficit of approximately RM7.9 million.




                                                              6

 2 Changes in accounting policies (Con't)
FORMIS RESOURCES BERHAD ("FRB")
Notes to the Interim Financial Report
For the Fourth Quarter Ended 31 March 2007



    a) FRS 5: Non-Current Assets Held For Sale and Discontinued Operations

       (#) Pursuant to the Debts Restructuring Scheme, the bank has agreed to fully settled the amount outstanding through
       proceeds to be received from the eventual sale of the properties with no further recourse against the Group in the event of
       shortfall. As such, the revaluation deficit of approximately RM7.9 million has been offset against the outstanding bank loan
       account and no impact has been transferred to the Income Statement.

       Apart from the above, the Company disposed off the entire 70% equity interest held in Altas CSF Sdn Bhd ("Atlas") on 28
       April 2006 and the wholly owned subsidiary, Applied Information Management Sdn Bhd ("AIMS") on 13 October 2006.
       Refer to Note 15 on the effect to the income statement and the cash flow.

    b) FRS101: Presentation of Financial Statements

       The adoption of the revised FRS 101 has affected the presentation of minority interests, share of net after-tax result of
       associates and other disclosures. In the consolidated balance sheet, minority interests are now presented within total
       equity. In the consolidated income statement, minority interests are presented as an allocation of the total profit or loss for
       the period. A similar requirement is also applicable to the statement of change in equity where it requires disclosure, on the
       face of the statement of change in equity, total recognised income and expenses for the period, showing separately the
       amount attributable to equity holders of the parent and to minority interests.

       The current period's presentation of the Group's financial statements is based on the revised requirements of FRS 101,
       with the comparatives restated to conform with the current period's presentation .

 3 Qualification of auditors' report on preceding annual financial statements

    The auditors' report on the financial statements for the financial year ended 31 March 2006 was not qualified.

 4 Seasonal and cyclical factors
    The business of the Group was not affected by any significant seasonal and cyclical factors during the financial year under
    review.

 5 Unusual items due to their nature, size or incidence

    a) FRB has taken steps in assessing the carrying value of its goodwill on consolidation by performing discounting cash flow
       on future cash flows of subsidiary companies (Cash Generating Unit ("CGU")) that are allocated with goodwill. At the end
       of the assessement, the goodwill to be written off amounting RM13.0 million has been recognised to the Income Statement
       in the first quarter ended 30 June 2006 due to the inability of the CGU in generating future cash flow to FRB group.
       Majority of the goodwill written off came from the goodwill previously allocated to Man Yau Holdings Bhd group that is
       currently inactive.

    b) On 13 December 2006, FHB entered into a Subscription Agreement with Com-Line Systems Sdn Bhd ("Com-Line") to
       subscribe for 866,666 new ordinary shares of RM1.00 each in Com-Line for a total cash consideration of RM1,725,337
       which shall be financed via internally generated funds. This would result in FHB holding 30.23% of equity interest in Com-
       Line.
       Subsequently on 31 January 2007, FHB entered into a Share Sale Agreement with Mokhana Sunderam A/L Letchiminan
       ("Mokhana") and Prabodh Kumar Kantilal H. Sheth ("Prabodh"), to further acquire 1,140,000 ordinary shares of RM1.00
       each in Com-Line from Mokhana and Prabodh collectively, which are collectively an additional 39.77% equity interest in
       Com-Line comprising 1,140,000 shares to be wholly satisfied by a total cash consideration of RM3,774,663.00 ("Proposed
       acquisition"). The total cost in acquiring the interest in Com-Line is RM5.5 million for 70%.

       The proposed acquisition had been completed on 20 April 2007. Irrespective of the completion date, the Group has
       obtained control over Com-Line with effective from 31 January 2007 and regard Com-Line as a subsidiary on even date.




                                                               7



 5 Unusual items due to their nature, size or incidence (Con't)
FORMIS RESOURCES BERHAD ("FRB")
Notes to the Interim Financial Report
For the Fourth Quarter Ended 31 March 2007


       The fair values of the assets acquired and liabilities assumed from the acquisition of the subsidiary was as follows:
                                                                            As at
                                                                          31-Jan-07
                                                                           RM’000
       Property, plant and equipment                                              809
       Trade receivables                                                        5,932
       Other receivables                                                          829
       Tax recoverable                                                            152
       Short term deposits                                                      1,209
       Cash and bank balances                                                   1,392
       Trade payables                                                          (6,982)
       Other payables                                                          (5,303)
       Fair value of total net assets                                          (1,962)
       Less: Minority interests                                                   589
       Group’s share of net assets                                             (1,373)
       Goodwill on acquisition                                                  6,873
       Cost of acquisition                                                      5,500

       The said acquisition had the two months effect on the Group’s results for the financial year:

                                                                           1-Feb-07
                                                                              to
                                                                          31-Mar-07
                                                                            RM’000

       Revenue                                                                  5,837
       Profit before taxation                                                   4,822
       Net profit for the financial year                                        4,812

    Saved as disclosed above, in note 2 and note 6 of this report, there were no items affecting the assets, liabilities, equity, net
    income, or cash flows that are unusual because of their nature, size, or incidence.

6   Material changes in estimates

    The Group has revisited its existing depreciation estimates and found that the adoption of FRS 116 will not have significant
    impact on the book value of the PPE except for the estimate use on determining the residual value of the motor vehicles in the
    group. The existing estimate is that the useful life of the motor vehicles is 5 years and the estimated residual value of the
    motor vehicles is zero after the end of its useful life. However, motor vehicles in the market will carry a value which is greater
    than zero even after 5 years. Therefore, the Group has revised its estimate on residual value of the motor vehicles to be based
    on its current market value of the same model. After the above assessment, the Group has estimated that the over
    depreciation on motor vehicles arising from the change of this estimate to be approximately RM1,174,000. This effect has
    been taken to the Income Statement of the Group.

7   Debt and equity securities

    a) The Company has on 14 February 2007 issued 1,000 new ordinary shares of RM1.00 each arising from the conversion of
       ICPS which has been granted listing and quotation with effect from 22 February 2007.

    b) The Company has on 16 March 2007 issued 11,666,036 new ordinary shares of RM1.00 each arising from the conversion
       of ICPS which has been granted listing and quotation with effect from 22 March 2007.

    c) The Company has on 21 March 2007 issued 3,000,000 new ordinary shares of RM1.00 each arising from the conversion
       of ICPS which has been granted listing and quotation with effect from 26 March 2007.

    Save as disclosed above, there were no other issuance, cancellation, repurchase, resale and repayment of debt securities of
    the Group and equity securities of the Company as at the date of this report.

8   Dividends paid

    No dividend has been paid in the current financial year to-date.


                                                               8
 9 Segmental reporting
                                                                                                        Adjustment/
                                                                         IT business       Others       Eliminations       Total
                                                                           RM'000          RM'000          RM'000         RM'000

       Twelve Months Financial Year Ended 31 March 2007
FORMIS RESOURCES BERHAD ("FRB")
Notes to the Interim Financial Report
For the Fourth Quarter Ended 31 March 2007

       External sales                                                      282,772         3,306             -         286,078
       Inter segment sales                                                  43,679         3,496         (47,175)          -
                                                                           326,451         6,802         (47,175)      286,078

       Segment results                                                      (3,889)        (2,946)           -           (6,835)
       Interest expense                                                                                                  (4,981)
       Interest Income                                                                                                    1,019
       Net unallocated income                                                                                             6,424

       Profit before taxation                                                                                            (4,373)


       Twelve months Financial Year Ended 31 March 2006

       External sales                                                      142,000         2,978             -         144,978
       Inter segment sales                                                   5,172         3,018          (8,190)            -
       Total sales                                                         147,172         5,996          (8,190)      144,978

       Segment results                                                      (2,608)        (1,500)           -           (4,108)
       Interest expense                                                                                                  (1,255)
       Interest Income                                                                                                      537
       Net unallocated income                                                                                             2,442

       Profit before taxation                                                                                            (2,384)

10 Carrying amount of revalued assets

    (a) Development property
       A subsidiary of the Group had undertaken a revaluation exercise, in compliance with FRS 5 and FRS 136 and the
       summary of findings are as follow:-

       Property                                          Net Book   Market Value        Deficit
                                                           Value
                                                            RM          RM               RM
       Lot 1239, Section 1239,                           98,956,493  91,000,000        7,956,493
       Section 13, Town of Georgetown,
       North East District, Penang


11 Subsequent events
    Foreign Investment Committee has, via its letter dated 9 April 2007 approved FRB's application for its wholly owned
    subsidiary, FHB to acquire from Mokhana and Prabodh 1,140,000 ordinary shares of RM1.00 each in Com-Line collectively,
    which are collectively an additional 39.77% equity interest in Com-Line subject to the condition that Com-Line increases its
    bumiputera equity interest of at least 30% before 30 June 2009.

    The proposed acquisition had been completed on 20 April 2007.

    Saved as disclosed above, there were no other material events subsequent to the end of the current period under review.


12 Changes in the composition of the company

    (a) On 28 April 2006, the company had completed its acquisition of:-

    (i) the remaining 30 % equity interest in Continuous Network Advisers Sdn Bhd("CNA") comprising 300,000 ordinary shares
        for a total cash consideration of RM4.0 million

    (ii) the remaining 30 % equity interest in Continuous Network Services Sdn Bhd("CNS") comprising 75,000 ordinary shares for
         a total cash consideration of RM2.0 million


                                                              9

12 Changes in the composition of the company (Con't)

    (b) On 28 April 2006, the company had completed its disposal of the entire 70% of the equity interest held in Atlas CSF Sdn
        Bhd ("Atlas") comprising 350,000 ordinary shares for a total disposal consideration of RM16.5 million.

    (c) On 13 October 2006, the Company had completed its disposal of the entire issued and paid-up capital of Applied
        Information Management Services Sdn Bhd ("AIMS") comprising 17,774,549 ordinary shares of RM1.00 each for a total
        cash consideration of RM20,000,000.
FORMIS RESOURCES BERHAD ("FRB")
Notes to the Interim Financial Report
For the Fourth Quarter Ended 31 March 2007


    (d) On 13 December 2006, FHB entered into a Subscription Agreement with Com-Line to subscribe for 866,666 new ordinary
        shares of RM1.00 each in Com-Line for a total cash consideration of RM1,725,337 which is financed via internally
        generated funds. This will result in FHB to hold 30.23% of equity interest in Com-Line.

    (e) On 31 January 2007, the wholly owned subsidiary, FHB entered into a Share Sale Agreement with Mokhana and Prabodh,
        to acquire 1,140,000 ordinary shares of RM1.00 each in Com-Line from Mokhana and Prabodh collectively, which are
        collectively an additional 39.77% equity interest in Com-Line comprising 1,140,000 shares to be wholly satisfied by a total
        cash consideration of RM3,774,663.00 ("Proposed acquisition"). The purchase consideration shall be settled by way of
        cash, which is financed via internally generated funds. The proposed acquisition had been completed on 20 April 2007.
        Irrespective of the completion date, the Group has obtained control over Com-Line with effective from 31 January 2007
        and regard Com-Line as a subsidiary on even date.

13 Changes in contingent liabilities or contingent assets
    The Company and its immediate subsidiary, FHB, are in the midst of cancelling corporate guarantees ("CG") granted to
    financial institutions for certain subsidiary companies,namely AIMS,PT. Formis Solusi Indonesia and Tera Asia Pacific Sdn
    Bhd. The amount of CG to be cancelled is RM6.25million and USD700,000.

    Formis Computer Services Sdn Bhd had cancelled CG granted to financial institution for a subsidiary , Formis Automation Sdn
    Bhd, for RM3.6million.

    Saved as disclosed above, there were no other changes on contingent liabilities or contingent assets of the Group.

14 Capital commitments

    There were no capital commitments during the financial period under review.

15 Notes Pursuant to FRS 5 - Non current assets held for sale and discontinued operation

a) On 7 July 2006, the Company signed a conditional SPA with Titian Inovatif Sdn Bhd in relation to the proposed disposal of the
   entire equity interest in AIMS comprising 17,774,549 ordinary shares of RM1.00 each for a total cash consideration of
   RM20,000,000. The proposal has been completed on 13 October 2006.

b) On 28 April 2006, the Company disposed the entire 70% equity interest held in Atlas comprising 350,000 ordinary shares of
   RM1.00 each for the total consideration of RM16,500,000.

    The followings are the revenue, expenses, pre-tax profit and income tax expenses from the ordinary activities attributable to
    the proposed disposal in (a) and the disposal in (b) up to the current financial period: -

                                                                                             Six months     One month
                                                                                               ended          ended
                                                                                             30.09.2006     30.04.2006     In Aggregate
                                                                                             Note 15 (a)    Note 15 (b)
                                                                                               RM'000        RM'000          RM'000

       Revenue                                                                                     9,415           707          10,122
       Operating Expenses                                                                         (8,947)         (688)         (9,635)
       Net profit for the period                                                                     468            19             487


    The cash flows effect attributable to the disposal of the subsidiary are as follows: -

       Cash flows from/(used in) operating activities                                             2,047          (1,085)           962
       Cash flows from/(used in) investing activities                                              (226)              1           (225)
       Cash flows from/(used in) financing activities                                              (336)            (11)          (347)
       Net increase/(decrease) in cash and cash equivalent                                        1,485          (1,095)           390



                                                                10
FORMIS RESOURCES BERHAD ("FRB")
Additional information required by Bursa Securities Listing Requirements
For the Fourth Quarter Ended 31 March 2007

1   Review of performance

    The Group recorded RM75.5 million of revenue in the current quarter, an increase of approximately 26% from RM59.8 million in
    the corresponding quarter of the preceding financial year. For the twelve months period-to-date, the Group recorded a 97%
    increase in revenue from RM145 million for the year ended 31 March 2006 to RM286 million for the current year under review. This
    was mainly due to the contribution of revenue from FHB Group and FST which has accounted for approximately RM201million for
    financial year ended 31 March 2007.

    The Group posted a loss before tax ("LBT") of RM2.6 million for the current quarter under review compared to the corresponding
    period in the previous year of RM3.7 million loss. For the twelve months period ended 31 March 2007, the Group recorded a loss
    before tax of RM4.4 million compared to a loss before tax of RM2.4 million in corresponding period last year. The results from the
    operation of the Group could be analysed with the following significant items: -
                                                                                                                               RM'000
        LBT for the financial year                                                                                              (4,373)
        Add/(less) Non operational items: -
          a) Goodwill written off                                                                                              12,979
          b) Impact of FRS 116 on the over depreciation of Property, Plant and Equipment                                        (1,174)
          c) Net gain on disposal of subsidiary                                                                                 (5,175)
          d)Allowance for doubtful debt(*)                                                                                       4,693
        Results from operation of the group                                                                                      6,950

    (*):The Board forsees the unrecoverability of the RM4.7 million outstanding in this current period. On a prudence basis, an
    allowance of doubtful debts is hereby provided for this period. However, if the amount is recoverable in the coming year,
    appropriate reversal will then be done

2   Variation of results against preceding quarter

                                                                                                            3 months          3 months
                                                                                                              ended             ended
                                                                                                           31.03.2007        31.12.2006
                                                                                                             RM'000            RM'000

    (Loss)/Profit before tax                                                                                      (2,631)            8,068

    The group recorded a loss in the current quarter arising from the allowance on doubtful debt mentioned in note 1(d) above.


3   Current year prospects

    The Board of Directors is pleased with the achievement of the Group thus far and the performance for the next financial year is
    expected to be satisfactory.

4   Profit forecast

    Not applicable.

5   Tax expense
                                                                                       Preceding Year                  Preceding Year
                                                                     Current Year      Corresponding        Current    Corresponding
                                                                       Quarter            Quarter         Year-To-Date     Period
                                                                      31.03.2007         31.03.2006        31.03.2007    31.03.2006
                                                                       RM'000              RM'000           RM'000         RM'000
    Malaysian taxation
       - current period                                                        (123)              (760)            3,528               481
       - under/(Over) provision in prior years                                  -                  (74)              197                (1)
                                                                               (123)              (834)            3,725               480

    Real property gains tax                                                      -                  12               -                  12

    Deferred taxation
        - current period                                                       (243)                42              (263)             (302)
        - under provision in prior years                                       (189)                57               (77)               57
                                                                               (432)                99              (340)             (245)

                                                                               (555)              (723)            3,385               247

    The Group's effective tax rate for the current financial year is higher than the statutory tax rate as profits of subsidiaries cannot be
    set-off against losses of other subsidiaries for tax purposes as these subsidiaries have not able to satisfy the conditions for group
    relief and certain expenses were disallowed for tax deductions.
                                                                11
FORMIS RESOURCES BERHAD ("FRB")
Additional information required by Bursa Securities Listing Requirements
For the Fourth Quarter Ended 31 March 2007

6   Unquoted investments and properties

    A subsidiary company has on 13 June 2006, entered into a Sale and Purchase Agreement to dispose a shop lot for RM760,000.
    The gain on disposal is estimated to be approximately RM110,000 but yet to realise as of the date of this report. This is due to the
    consent on the transfer of title which is yet to be received from the land office.


7   Marketable securities

    Details of disposal of quoted investments are as follows:
                                                                                                        3 months        Current year-to-
                                                                                                          ended              date
                                                                                                        31.03.2007        31.03.2007
                                                                                                         RM'000             RM'000

    Sales proceeds on disposal                                                                                    -                169
    Loss on disposal                                                                                              -                (62)

    As at 31.03.2007, the quoted investments included in other investments and short term investments are as follows: -

                                                                                       Long term        Short term           Total
                                                                                        RM'000           RM'000             RM'000
    At cost:
    - Quoted                                                                                  9,843             8,300           18,143
    - Unquoted                                                                                  161               -                161
                                                                                             10,004             8,300           18,304

    At book value:
    - Quoted                                                                                  7,101             3,179           10,280
    - Unquoted                                                                                  161               -                161
                                                                                              7,262             3,179           10,441

    At market value:
    - Quoted                                                                                  5,696             3,179            8,875



8   Status of corporate proposals

    There were no corporate proposals announced or outstanding as at 25 May 2007.

9   Borrowings and debts securities

    The Group's bank borrowings to-date are as follows:                                Foreign           Ringgit           Ringgit
                                                                                       Currency          Malaysia         Equivalent
                                                                                         '000            RM'000            RM'000

        Short term bank borrowings (Unsecured)
        - denominated in foreign currency                                                  USD 197                -                741
        - denominated in Ringgit Malaysia                                                      -                8,433            8,433
                                                                                                                8,433            9,174
        Short term bank borrowings (Secured)
        - denominated in Ringgit Malaysia                                                        -            96,500           96,500
                                                                                                             104,933          105,674

        Long term bank borrowings (Secured)
        - denominated in Ringgit Malaysia                                                        -            63,304            63,304
                                                                                                              63,304            63,304

        Total borrowings                                                                                     168,237          168,978




                                                                12
FORMIS RESOURCES BERHAD ("FRB")
Additional information required by Bursa Securities Listing Requirements
For the Fourth Quarter Ended 31 March 2007



10 Off balance sheet financial instruments

    As at 31 March 2007, the status of the call and put option between FHB and Lau Chi Chiang & Robin Lim Jin Hee ("LCC & RL") in
    relation to the balance 20% shares in DGB was as follows: -

                                        No. of Share outstanding
    Call option granted by                  under call option                           Exercise period

    LCC & RL                                     126,000                                LCC & RL shall only be entitled to exercise the call
                                                                                        option in respect of not more than 63,000 ordinary
                                                                                        shares in DGB at any one calender year
                                                                                        commencing from the first anniversary date of the
                                                                                        sale and option agreement.

    FHB                                          126,000                                At any time in the event of a change in certain
                                                                                        substantial   shareholders   of   the   Formis
                                                                                        (Malaysia)Berhad, the former ultimate holding
                                                                                        company.


11 Changes in material litigation
    Please refer to the Summary of Material Litigation attached for further details.


12 Dividends

    No dividends have been recommended during the financial period under review.

13 Earnings/(Loss) per share

    (a) Basic loss per ordinary share

        Basic earnings/(loss) per ordinary share for the financial year is calculated based on the Group's profit/(loss) after tax and
        minority interests divided by the weighted average ("WA") number of ordinary shares in issue during the financial year.

                                                                            3 months ended                     Current year-to-date
                                                                       31.03.2007     31.03.2006            31.03.2007      31.03.2006

        Profit/(Loss) after tax and minority interests (RM'000)              (3,432)             (2,188)         (10,209)          (1,961)
        WA number of ordinary shares in issue ('000)                        169,703             135,313          169,703          135,313
        Basic profit/(loss) per ordinary share (sen)                           (2.02)              (1.62)           (6.02)           (1.45)

    (b) Fully diluted earnings/(loss) per ordinary share

        Fully diluted earnings/(loss) per ordinary share is calculated based on the Group's adjusted profit/(loss) after tax and minority
        interests divided by the enlarged WA number of ordinary shares in issue and issuable during the financial year.

        Fully diluted earnings/(loss) per ordinary share is not presented for the current and preceeding financial year as there is an anti-
        dilutive effect on the conversion of ICPS outstanding at year end to ordinary shares on a loss position.




                                                                  13
FORMIS RESOURCES BERHAD
SUMMARY OF STATUS OF LEGAL CLAIMS AS AT 25 MAY 2007

 A.    MATERIAL LITIGATION AGAINST THE GROUP

 No.                   Parties to the Suit                 Case / Summons No.                    Court                                                 Latest Status

 1     Man Yau Plastics Factory (Malaysia) Sendirian          Suit No.25-43-02             Penang High Court          Judicial Review initiated by MYPF to quash the decision and award granted by
       Berhad (“MYPF”) vs. Tan Yong Seng & 10 others                                                                  the Alor Setar Industrial Court in Case No. 9/4-769/99. Matter is postponed
                                                                                                                      pending request for settlement. As the parties are unable to proceed with
                                                                                                                      mediation, the High Court has fixed 18 July 2007 for hearing.


       Tan Yong Seng and 10 others vs. Man Yau Plastics     Case No. 1/1-761/02          Penang Industrial Court      Matter filed by Plaintiffs for alleged non-compliance of the award granted by the
       Factory (Malaysia) Sendirian Berhad                                           (Transferred from Kuala Lumpur   Alor Setar Industrial Court in Case No. 9/4-769/99. The Court has postponed
                                                                                             Industrial Court)        the matter pending the hearing of the Judicial Review abovementioned. Matter
                                                                                                                      is fixed for mention on 28 May 2007.



 2     Wang Corporation Sendirian Berhad (“WANG”)           Suit No. 25-42-2002            Penang High Court          Judicial Review initiated by WANG to quash the decision and award granted by
       vs.Azlan Shah Abdullah and 8 others                                                                            the Alor Setar Industrial Court in Case No.9/4-767/99. Matter is postponed
                                                                                                                      pending request for settlement. As the parties are unable to proceed with
                                                                                                                      mediation, the High Court has fixed 18 July 2007 for hearing.


       Azlan Shah Abdullah and 8 others vs. Wang            Case No. 1/1-760-02          Penang Industrial Court      Matter filed by Plaintiffs for alleged non-compliance of the award granted by the
       Corporation Sendirian Berhad                                                                                   Alor Setar Industrial Court in Case No. 9/4-767/99. The Court has postponed
                                                                                                                      the matter pending the hearing of the Judicial Review abovementioned. Matter
                                                                                                                      is fixed for mention on 28 May 2007.



 3     Nik Roseli Mahmood vs. 1. Man Yau Holdings Berhad SuitMalaysian International Merchant Bankers High Court
                                                         2. No. S4-23-124-2001          Kuala Lumpur                  Plaintiff is claiming unspecified general and special damages for defamation.
                                                                                                                      The 2nd Defendant’s application to strike out the case has been dismissed by
                                                                                                                      the Senior Assistant Registrar. The 2nd Defendant’s has appealed against the
                                                                                                                      said decision. The Court has on 7 March 2005 dismissed the said appeal. The
                                                                                                                      parties are currently waiting for the Court to set a date for case management.



                                                                                                                      In the meantime, a bankruptcy search on the plaintiff has revealed that he has
                                                                                                                      been made a bankrupt on 25 August 2004.

                                                                                                                      As such, the above suit will not be able to proceed unless leave is obtained
                                                                                                                      from the Insolvency Officer.




                                                                                          Page 14 of 15
FORMIS RESOURCES BERHAD

SUMMARY OF STATUS OF LEGAL CLAIMS AS AT 25 MAY 2007

 B.    MATERIAL LITIGATION FOR THE GROUP

 No.                   Parties to the Suit                 Case / Summons No.                Court                                             Latest Status


 1     Continuous Network Advisers Sdn. Bhd. vs. PCI      Suit No. D8-22-1604-2003   Kuala Lumpur High Court   Judgement for the sum of RM365,090.00 plus interest at the rate of 8% per
       Solutions (M) Sdn. Bhd. (Formerly known as CY                                                           annum on the sum of RM365,090.00 to be calculated from 7 May 2003 till the
       Computer & Software House (M) Sdn. Bhd.)                                                                date of full realisation and costs was obtained against the Defendant on 27
                                                                                                               October 2003 upon their failure to enter an appearance.


                                                          Company Winding Up No.     Kuala Lumpur High Court   An application by a third party to wind up the Defendant has been granted on
                                                             D2-28-105-2004                                    13 May 2004. Proof of debt form filed on 3 March 2005.


 2     First Solution Sdn. Bhd. vs. Neuronet (Malaysia)    Suit No. D6-22-1986-00    Kuala Lumpur High Court   The full trial is postponed to 11 and 17 September 2007
       Sdn. Bhd.

 3     Formis Network Services Sdn. Bhd. vs. Binet        Suit No. D6-22-600-2004    Kuala Lumpur High Court   By agreement between the parties, pleadings in this matter are to be deemed
       Marketing Sdn. Bhd.                                                                                     closed 14 days after written notice by either party. This agreement was
                                                                                                               reached to allow Binet to consider their position, in light of the aforesaid
                                                                                                               application having been allowed. To date, neither party has issued such notice.




                                                                                       Page 15 of 15

								
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