Joint Venture Agreement Announcements by wbw19109

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									SEACERA TILES BERHAD (Company No : 163751-H)
Quarterly Report for the period ended 31 March 2005

Notes to the Interim Financial Report
A1.                 ACCOUNTING POLICIES

                  The interim financial report is unaudited and has been prepared in compliance with
                  MASB 26, Interim Financial Reporting. The interim financial report should be read in
                  conjunction with the audited financial statements of the Group for the financial
                  statements for the year ended 31 December 2004.

                  The accounting policies and methods of computation adopted by the Group in this
                  interim financial report are consistent with those adopted in the most recent audited
                  financial statements for the year ended 31 December 2004.

A2.               AUDIT REPORT OF PRECEDING ANNUAL FINANCIAL STATEMENTS

                  The audit report of the preceding annual financial statements was not qualified.

A3.               SEASONALITY OR CYCLICALITY OF OPERATIONS

                  The Group's performance is directly related to the level of market acitivity which
                  invariably experiences a slowdown during the festive season.

A4.               UNUSUAL ITEMS AFFECTING INTERIM FINANCIAL REPORT

                  Save for the information disclosed in this interim report, there are no unusual
                  items affecting assets, liabilities, equity, net income or cash flow.

A5.               MATERIAL CHANGES IN ESTIMATES

                  There was no changes in estimates of amounts reported in prior interim periods
                  of the current financial year or in prior financial years that have a material effect
                  in the current interim period.

A6.               DEBT AND EQUITY SECURITIES

                  There were no issuance, cancellation, repurchase, resale and repayment of debt
                  and equity securities for the current quarter and financial year to-date.


A7.               DIVIDENDS PAID

                  No dividend was paid in the quarter under review.
SEACERA TILES BERHAD (Company No : 163751-H)
Quarterly Report for the period ended 31 March 2005


A8.               SEGMENTAL INFORMATION
                                                                                  Profit before
                                                                Turnover             Taxation
                                                                    RM'000            RM'000
                  Manufacturing                                          19025                608



                                                                         19,025               608




A9.               VALUATION OF PROPERTY, PLANT AND EQUIPMENT

                  The property, plant and equipment have not been revalued since the previous report.



A10.              MATERIAL SUBSEQUENT EVENTS

                  Seacera Properties Sdn. Bhd. (formerly known as Seacera Marketing Sdn. Bhd.),
                  a wholly owned subsidiary of the Company entered into a Joint Venture Development
                  Agreement with Duta Skyline Sdn. Bhd. to develop pieces of freehold land held by Duta
                  Skyline Sdn. Bhd. There have been no other material events subsequent to the end of the
                  quarter under review that have not been reflected in the financial statements.


A11.              CHANGES IN THE COMPOSITION OF THE GROUP

                  There were no changes in the composition of the Group during the quarter and the
                  financial year to-date.




A12.              CHANGES IN CONTINGENT LIABILITIES

                  There were no changes in contingent liabilities and contingent assets since the last
                  annual balance sheet date.
SEACERA TILES BERHAD (Company No : 163751-H)
Quarterly Report for the period ended 31 March 2005

B1.               REVIEW OF PERFORMANCE

                  The Group achieved a turnover of RM 19.025 million and a profit before tax of
                  RM 0.608 million for the current financial quarter as compared with RM 18.234 million
                  and RM 0.268 million respectively for the preceding year corresponding quarter. The higher profit
                  recorded was mainly due to higher sales and improved selling prices the BOPP business.



B2.               MATERIAL CHANGES IN THE QUARTERLY RESULTS

                  Profit before tax for the quarter under review was RM 0.608 million compare with
                  RM 2.072 million in the preceding quarter. The lower profit before tax was expected
                  due to the seasonal nature of the tiles business.


B3.               PROSPECTS


                  Barring unforeseen circumstances, the Board of Directors anticipates the performance of the
                  Group for the year to be satisfactory.


B4.               PROFIT FORECAST
                  Not applicable

B5.               TAXATION
                                                                  Current quarter Year to date
                                                                  ended 31/03/05 31/03/05
                                                                        RM '000         RM '000

                  Current year provision                                       175                175
                  Deferred tax liability                                         0                  0
                                                                               175                175

                  The effective tax rate is marginally higher than the statutory tax rate due to certain
                  disallowable expenses for tax purposes.


B6.               SALE OF UNQUOTED INVESTMENTS AND / OR PROPERTIES

                  There were no sale of unquoted investments or properties during the financial quarter.

B7.               QUOTED SECURITIES

                  There were no purchase or sale of quoted securities during the financial quarter.
SEACERA TILES BERHAD (Company No : 163751-H)
Quarterly Report for the period ended 31 March 2005


B8.               STATUS OF CORPORATE PROPOSALS

                  There are no corporate proposals announced as at the date of this
                  announcement.

B9.               BORROWINGS AND DEBT SECURITIES

                  Group borrowings consist of the following:            As at
                                                                      31/03/2005
                  Denominated in Ringgit Malaysia                      RM '000
                  Secured
                  Long term loan                                            2,298

                  Secured
                  Short term loan                                          18,500
                  Term loan payable within 12 months                          903
                  Bankers acceptance                                       15,964
                  Bank overdraft                                            2,787
                                                                           38,154

B10.              OFF BALANCE SHEET FINANCIAL INSTRUMENTS

                  There were no off balance sheet financial instruments entered into by the Group
                  as at the date of this report.

B11.              MATERIAL LITIGATIONS

                  There were no pending material litigation as at the date of this report.

B12.              DIVIDEND

                  Year 2005
                  A final dividend of 2.5% (tax exempt) for the year ended 31 December 2004 will be proposed
                  at the forthcoming Annual General Meeting.

                  Year 2004
                  An interim dividend of 2% (tax exempt) for year ended 31 December 2003 was paid on
                  16 January 2004.


B13.              EARNINGS PER SHARE

                  Basic earnings per share for the current quarter and year to-date have been calculated
                  based on the Group's net profit attributable to ordinary shareholders divided by the
                  weighted average number of 53,332,000 ordinary shares in issue.

								
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