MIRA INFORM REPORT

 

 

Report Date :

05.06.2012

 

IDENTIFICATION DETAILS

 

Name :

NYLEX (MALAYSIA) BERHAD

 

 

Registered Office :

Lot 16, Section 15, Persiaran Selangor, Shah Alam, 40200

 

 

Country :

Malaysia

 

 

Financials (as on) :

29.02.2012

 

 

Year of Establishment :

1970

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

Subject is engaged in investment holding company

 

 

No. of Employees :

667

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

Nylex (Malaysia) Berhad

Lot 16, Section 15, Persiaran Selangor

Shah Alam, 40200

Malaysia

Tel:       60-3-55191706

Fax:      60-3-55108291

Web:    www.nylex.com

           

 

Synthesis

 

Employees:                  667

Company Type:             Public Parent

Corporate Family:          10 Companies

Traded:

Bursa Malaysia:             NYLEX

Incorporation Date:         1970

Auditor:                        Ernst & Young LLP       

Financials in:                 USD (Millions)

Fiscal Year End:            31-May-2011

Reporting Currency:       Malaysian Ringgit

Annual Sales:               395.2  1

Net Income:                  4.2

Total Assets:                 204.9  2

Market Value:               33.3 (25-May-2012)

 

 

Business Description     

 

Nylex (Malaysia) Berhad (Nylex) is engaged in investment holding company. Nylex operates in two segments: Polymer and Industrial chemical. Polymer is engaged in the manufacture and marketing of vinyl-coated fabrics, calendered film and sheeting and other plastic products, including geotextiles and prefabricated sub-soil drainage systems and rotomoulded plastic products. Industrial chemical includes trading, manufacture and sale of petrochemicals and industrial chemical products. The Company's subsidiaries are involved in the manufacture and marketing of rotomolded plastic products, including bulk chemical containers, road barriers, playground equipment and disposal bins, and distribution, manufacture and trading of polyvinyl chloride and polyurethane synthetic leather and metal roofing products. During the fiscal year ended May 31, 2011, the Company acquired the interest in Ancom Kimia Sdn Bhd. For the nine months ended 28 February 2011, Nylex (Malaysia) Berhad's revenues decreased 10% to RM834.7M. Net income decreased 81% to RM5.9M. Revenues reflects a decrease in sales from Industrial Chemical divisions. Net income also reflects lower gross profit margin, an increase infinance costs and higher other expenses. The Company is engaged in the investment holding & also engaged in the manufacture of vinyl coated fabrics.

Industry             

Industry            Chemical Manufacturing

ANZSIC 2006:    1915 - Adhesive Manufacturing

NACE 2002:      2462 - Manufacture of glues and gelatine

NAICS 2002:     32552 - Adhesive Manufacturing

UK SIC 2003:    2462 - Manufacture of glues and gelatine

US SIC 1987:    2891 - Adhesives and Sealants

 

           

Key Executives   

 

Name

Title

Se Eng Choo

Company Secretary

Eric Chan

CEO

Yong Aw

Finance Manager

Kah Gek Tay

Marketing Manager

Choo Se Eng

Co-Company Secretary

 

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

General Reorganization

2

Nylex (Malaysia) Berhad Announces Voluntary Winding-up Of Malaysian Roofing Industries Sdn Bhd

8-Mar-2012

Dividends

1

Nylex (Malaysia) Berhad Announces FY 2011 Interim Dividend

27-Jun-2011

 

* number of significant developments within the last 12 months     

 

 

Financial Summary    

 

As of 29-Feb-2012

Key Ratios                               Company         Industry

Current Ratio (MRQ)                   1.33                  2.18

Quick Ratio (MRQ)                     0.97                  1.35

Debt to Equity (MRQ)                 0.58                  0.82

Sales 5 Year Growth                  12.85                6.26

Net Profit Margin (TTM) %           1.17                  10.56

Return on Assets (TTM) %          2.94                  8.26

Return on Equity (TTM) %           6.26                  22.07

 

 

Stock Snapshot    

 

 

Traded: Bursa Malaysia: NYLEX

 

As of 25-May-2012

   Financials in: MYR

Recent Price

0.54

 

EPS

0.07

52 Week High

0.67

 

Price/Sales

0.09

52 Week Low

0.48

 

Price/Earnings

7.07

Avg. Volume (mil)

0.08

 

Price/Book

0.40

Market Value (mil)

104.94

 

Beta

1.41

 

Price % Change

Rel S&P 500%

4 Week

-6.90%

-5.90%

13 Week

-14.29%

-13.87%

52 Week

-13.60%

-14.17%

Year to Date

-10.00%

-11.18%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = MYR 3.104038

2 - Balance Sheet Item Exchange Rate: USD 1 = MYR 3.0105

 

 

Corporate Overview

 

Location

Lot 16, Section 15, Persiaran Selangor

Shah Alam, 40200

Malaysia

Tel:       60-3-55191706

Fax:      60-3-55108291

Web:    www.nylex.com

           

Quote Symbol - Exchange

NYLEX - Bursa Malaysia

 

Sales MYR(mil):            1,226.7

Assets MYR(mil):          616.9

Employees:                   667

Fiscal Year End:            31-May-2011

Industry:                        Chemical Manufacturing

Incorporation Date:         1970

Company Type:             Public Parent

Quoted Status:              Quoted

 

Group Managing Director, Executive Director:       Ka Wei Siew

 

 

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Employment Opportunities

Executives

Financial Information

Home Page

News Releases

Products/Services

 

Contents

Industry Codes

Business Description

Brand/Trade Names

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1915     -          Adhesive Manufacturing

3323     -          Industrial and Agricultural Chemical Product Wholesaling

1913     -          Polymer Foam Product Manufacturing

1911     -          Polymer Film and Sheet Packaging Material Manufacturing

1821     -          Synthetic Resin and Synthetic Rubber Manufacturing

1812     -          Basic Organic Chemical Manufacturing

6240     -          Financial Asset Investing

 

NACE 2002 Codes:

5155     -          Wholesale of chemical products

7415     -          Management activities of holding companies

2524     -          Manufacture of other plastic products

2521     -          Manufacture of plastic plates, sheets, tubes and profiles

2462     -          Manufacture of glues and gelatine

2414     -          Manufacture of other organic basic chemicals

2416     -          Manufacture of plastics in primary forms

 

NAICS 2002 Codes:

551112  -          Offices of Other Holding Companies

424690  -          Other Chemical and Allied Products Merchant Wholesalers

326140  -          Polystyrene Foam Product Manufacturing

326113  -          Unlaminated Plastics Film and Sheet (except Packaging) Manufacturing

325211  -          Plastics Material and Resin Manufacturing

32552   -          Adhesive Manufacturing

325199  -          All Other Basic Organic Chemical Manufacturing

 

US SIC 1987:

2821     -          Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers

2869     -          Industrial Organic Chemicals, Not Elsewhere Classified

6719     -          Offices of Holding Companies, Not Elsewhere Classified

5169     -          Chemicals and Allied Products, Not Elsewhere Classified

3081     -          Unsupported Plastics Film and Sheet

3086     -          Plastics Foam Products

2891     -          Adhesives and Sealants

 

UK SIC 2003:

2414     -          Manufacture of other organic basic chemicals

7415     -          Management activities of holding companies

5155     -          Wholesale of chemical products

2524     -          Manufacture of other plastic products

2462     -          Manufacture of glues and gelatine

2521     -          Manufacture of plastic plates, sheets, tubes and profiles

2416     -          Manufacture of plastics in primary forms

 

Business Description

Nylex (Malaysia) Berhad (Nylex) is engaged in investment holding company. Nylex operates in two segments: Polymer and Industrial chemical. Polymer is engaged in the manufacture and marketing of vinyl-coated fabrics, calendered film and sheeting and other plastic products, including geotextiles and prefabricated sub-soil drainage systems and rotomoulded plastic products. Industrial chemical includes trading, manufacture and sale of petrochemicals and industrial chemical products. The Company's subsidiaries are involved in the manufacture and marketing of rotomolded plastic products, including bulk chemical containers, road barriers, playground equipment and disposal bins, and distribution, manufacture and trading of polyvinyl chloride and polyurethane synthetic leather and metal roofing products. During the fiscal year ended May 31, 2011, the Company acquired the interest in Ancom Kimia Sdn Bhd. For the nine months ended 28 February 2011, Nylex (Malaysia) Berhad's revenues decreased 10% to RM834.7M. Net income decreased 81% to RM5.9M. Revenues reflects a decrease in sales from Industrial Chemical divisions. Net income also reflects lower gross profit margin, an increase infinance costs and higher other expenses. The Company is engaged in the investment holding & also engaged in the manufacture of vinyl coated fabrics.

 

More Business Descriptions

Investment holding; manufacture and marketing of vinyl coated fabrics, calendered film, prefabricated sheeting products for subsoil use, and rotomoulded bulk containers

 

Vinyl Coated Fabrics Mfr

 

Nylex (Malaysia) Bhd is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.

 

Nylex (Malaysia) manufactures PVC leathercloth and PVC films, sheetings and supplies to a wide range of industries such as furniture (synthetic leather and fabric look-alike), footwear, automotive (car upholstery and interior panels), stationery (diaries and file covers), luggage, gloves, vinyl wallcoverings, audio laminates and gypsum board laminates. The company employs over 370.

Financial - Investment (Holding Company)

 

Brand/Trade Names

NYLEX

 

Financial Data

Financials in:

MYR(mil)

 

Revenue:

1,226.7

Net Income:

13.2

Assets:

616.9

Long Term Debt:

1.5

 

Total Liabilities:

346.0

 

Working Capital:

0.1

 

 

 

Date of Financial Data:

31-May-2011

 

1 Year Growth

0.4%

-62.5%

10.5%

 

Market Data

Quote Symbol:

NYLEX

Exchange:

Bursa Malaysia

Currency:

MYR

Stock Price:

0.5

Stock Price Date:

05-25-2012

52 Week Price Change %:

-13.6

Market Value (mil):

104,942.5

 

SEDOL:

B01KLG1

ISIN:

MYL4944OO004

 

Equity and Dept Distribution:

12/2008, 5% Stock dividend.12/2009, 1.01667 Stock dividend. 12/2010, 3.125% Stock dividend.

 

Subsidiaries

Company

Percentage Owned

Country

Perusahaan Kimia Gemilang Sdn Bhd

100%

MALAYSIA

Nylex Polymer Marketing Sdn Bhd

100%

MALAYSIA

Nylex Specialty Chemicals Sdn Bhd

100%

MALAYSIA

PT Nylex Indonesia

100%

INDONESIA

Speciality Phosphates (Malaysia) Sdn Bhd

51%

MALAYSIA

Wedon Sdn Bhd

100%

MALAYSIA

Fermpro Sdn Bhd

100%

MALAYSIA

Kumpulan Kesuma Sdn Bhd

100%

MALAYSIA

Nycon Manufacturing Sdn Bhd

100%

MALAYSIA

CKG Chemicals Pte Ltd

100%

SINGAPORE

 

 

 

Shareholders

 

 

Major Shareholders

Ancom Berhad (27.02%); Rhodemark Development Sdn Bhd (21.17%)

 

 

 

Key Corporate Relationships

Auditor:

Ernst & Young LLP

Bank:

Malayan Banking Berhad, HSBC Bank Malaysia Berhad, RHB Bank Berhad

 

Auditor:

Ernst & Young, Ernst & Young, Ernst & Young LLP

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Nylex (Malaysia) Berhad

Nylex (Malaysia) Berhad 
Total Corporate Family Members: 10 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Nylex (Malaysia) Berhad

Parent

Shah Alam

Malaysia

Chemical Manufacturing

395.2

667

 

Perusahaan Kimia Gemilang Sdn Bhd

Subsidiary

Petaling jaya, Selangor

Malaysia

Chemical Manufacturing

135.9

1,600

 

Pkg Lautan Indonesia, Pt

Subsidiary

West Jakarta, Jakarta

Indonesia

Chemical Manufacturing

 

7

 

Nycon Manufacturing Sdn Bhd

Subsidiary

Shah Alam, Selangor

Malaysia

Chemicals - Plastics and Rubber

2.1

300

 

PT Nylex Indonesia

Subsidiary

Gresik, East Java

Indonesia

Chemicals - Plastics and Rubber

 

75

 

Kumpulan Kesuma Sdn Bhd

Subsidiary

Subang Jaya, Selangor Darul Ehsan

Malaysia

Chemical Manufacturing

1.6

24

 

Ckg Chemicals Pte Ltd

Subsidiary

Singapore

Singapore

Chemical Manufacturing

167.9

15

 

PT PKG Lautan Indonesia

Subsidiary

Jakarta

Indonesia

Chemical Manufacturing

 

10

 

Nylex Specialty Chemicals Sdn Bhd

Subsidiary

Port Klang, Selangor

Malaysia

Chemical Manufacturing

15.4

 

 

Perusahaan Kimia Gemilang (Vietnam) Company Ltd.

Subsidiary

Ho Chi Minh City

Viet Nam

Chemical Manufacturing

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Mohamed Al Amin Bin Abdul Majid

 

Non-Independent Executive Chairman of the Board

Chairman

 

Biography

Datuk Ir. Dr. Mohamed Al Amin Bin Abdul Majid serves as Non-Independent Executive Chairman of the Board of Nylex (Malaysia) Bhd since February 1, 2010. He joined the Board on July 30, 2003 as a Non-Executive Chairman. Datuk Al Amin graduated with a Diploma in Technology from Oxford College of Further Education (now Oxford and Cherwell Valley College) and holds a Bachelor of Science degree in Civil Engineering from the University of Aston (also Aston University), Birmingham, United Kingdom and has recently been awarded the Honorary Doctorate Degree of Doctor of Science by the University. Datuk Al Amin began his career as a project engineer with the Perak State Development Corporation in 1979. Two years later, he was appointed as the Executive Director of its subsidiary, Maju Bangun Sdn Bhd. In 1982, he set up his own business and is currently a director of several private companies which are involved in a range of businesses such as construction, investment, distributorship, general trading and project management. He is currently the Chairman of the Chemical Industries Council of Malaysia (“CICMâ€) and the Small & Medium Industries Development Corporation (“SMIDECâ€) and a Corporate Member of Institute of Engineers Malaysia (“MIEMâ€). Datuk Al Amin is currently the Executive Chairman of Country View Berhad and a director of MCIS Zurich Insurance Berhad and Ancom Berhad.

 


Age: 56

 


Education:

Aston University, BS (Civil Engineering)
Oxford and Cherwell Valley College (Technology)

 

Mohamed Al Amin Abdul Majid

 

Executive Chairman

Chairman

 

Johari Razak

 

Non-Independent Non-Executive Deputy Chairman of the Board

Vice-Chairman

 

Biography

Dato' Johari Razak serves as Non-Independent Non-Executive Deputy Chairman of the Board of Nylex (Malaysia) Bhd on December 6, 2004. He joined the Board on October 12, 1999 and was later appointed Executive Vice Chairman on January 29, 2002. He is currently a member of the Audit Committee. Dato’ Johari graduated with a Bachelor of Law degree from the University of Kent, United Kingdom. He was called to the Bar of England and Wales at Lincoln’s Inn in 1976 and was admitted as an advocate and solicitor of the High Court of Malaya in 1977. He practiced law with Messrs Shearn Delamore & Co from 1979 and was a partner of the firm from 1991 to 1994. He rejoined the firm in 2007 and is currently a partner of the firm. Currently, he is also an Adjunct Professor of Law of University Teknologi Mara. Dato’ Johari is currently the Non-Executive Chairman of Ancom Berhad, Chairman of Daiman Development Berhad and a director of Hong Leong Industries Berhad, Daiman Golf Berhad, Deutsche Bank (Malaysia) Berhad and British American Tobacco (Malaysia) Berhad.

 


Age: 56

 


Education:

University of Kent, LLB 

 

Safrizal bin Mohd Zaid

 

Independent Non-Executive Director

Director/Board Member

 

Biography

Mr. Safrizal bin Mohd Zaid serves as Independent Non-Executive Director of Nylex (Malaysia) Bhd. He was appointed on December 1, 2011. He graduated with a Bachelor of Commerce degree from the University of New South Wales, Australia. He is a member of CPA Australia and an appointed Council Member of the Chartered Taxation Institute of Malaysia. He has working experience in both the consulting as well as the commercial sectors in various capacities in Australia and Malaysia. He is a member of the Audit Committee.

 


Age: 46

 


Education:

University of New South Wales, B 

 

Edmond Swee Leng Cheah

 

Board Member

Director/Board Member

 

Swee Leng Cheah

 

Independent Non-Executive Director

Director/Board Member

 

Biography

Mr. Cheah (Edmond) Swee Leng serves as Independent Non-Executive Director of Nylex (Malaysia) Bhd since August 26, 2005. He is currently the Chairman of the Audit Committee and a member of the Remuneration and Nomination Committee. Mr. Cheah is a Chartered Accountant by profession and is a member of the Malaysian Institute of Accountants and the Association of Chartered Accountants, England & Wales. He is also a Certified Financial Planner. He was previously an Audit Manager with a professional accounting firm in London; the manager in charge of Portfolio Investment in a merchant bank in Malaysia and subsequently in charge of the corporate planning & investment division in a public listed company; the Chief Executive Officer/Executive Director and a member of the Investment Committee of Public Mutual Berhad, a private unit trust management company in Malaysia; a Council Member and Chairman of the Secretariat of the Federation of Malaysia Unit Trust Managers (“FMUTMâ€); a Task Force Member on Islamic Finance for the Labuan Offshore Financial Services Authority (“LOFSAâ€) and a member of the Securities Market Consultative Panel for Bursa Malaysia Securities Berhad. He is currently a member of the Board of Governors and the Past President of the Financial Planning Association of Malaysia (“FPAMâ€), the Honorary Treasurer of the Society for the Prevention of Cruelty to Animals (“SPCAâ€) and an investment committee member and director of MAAKL Mutual Berhad. He is also the Chairman of Adventa Berhad and a director of Ancom Berhad.

 


Age: 57

 


Education:

University of North London, BA 

 

Hock Chye Lim

 

Independent Non-Executive Director

Director/Board Member

 

Biography

Mr. Lim Hock Chye serves as Independent Non-Executive Director of Nylex (Malaysia) Bhd since August 1, 2005. He is currently the Chairman of the Remuneration and Nomination Committee and a member of the Audit Committee. Mr. Lim gained his LLB (Hons) degree from University of London, United Kingdom and holds a Certificate in Legal Practice. He was formerly a consultant with an organization promoting corporate governance and practices. Prior to that, he was a Deputy Editor with the Star Newspaper, where he wrote for the Business Section. He was one of the pioneer consultants with the Malaysian Minority Shareholder Watchdog Group, an initiative set up by the Ministry of Finance in 2002 to protect minority shareholders’ interest and promote corporate governance and practices. He was also a panel speaker for Rating Agency of Malaysia and Bursatra Sdn Bhd on Continuing Education Programmes for directors of public listed companies. He continues to lecture on promotion of corporate governance within Corporate Malaysia. Currently, he is a director of Ancom Logistics Berhad (formerly known as Tamco Corporate Holdings Berhad), Silver Bird Group Berhad and TSM Global Berhad and the Group Director of Strategic Planning & Corporate Affairs of HELP University College, Kuala Lumpur.

 


Age: 56

 


Education:

University of London, LLB 

 

Ka Wei Siew

 

Group Managing Director, Executive Director

Director/Board Member

 

Biography

Dato' Siew Ka Wei serves as Group Managing Director and Executive Director of Nylex (Malaysia) Bhd since January 29, 2002. He joined the Board on October 12, 1999. He graduated with a Bachelor of Science (Hons) degree in Chemical Engineering and a Master of Science degree in Operational Research from the Imperial College of Science, Technology and Medicine (also Imperial College London), London, United Kingdom. He has working experience in the field of petrochemicals locally and internationally for more than 30 years. He was the Chairman of the Malaysian Chapter of the Young Presidents Organisation (“YPOâ€), an international grouping of more than 10,500 chief executive officers and leaders of companies and organizations over the world. He became a director of the International Board of Directors of YPO in 2000 and served until 2003 during which he was the Chairman of YPO’s Global Leadership Congress held in Beijing, China. Dato’ Siew is currently the Group Managing Director of Ancom Berhad and the Deputy Chairman of Ancom Logistics Berhad (formerly known as Tamco Corporate Holdings Berhad).

 


Age: 55

 


Education:

Imperial College, London, MS (Operational Research)
Imperial College, London, BS (Chemical Engineering)

 

 

Stephen Sim Whye Geh

 

Co-Secretary

Other

 

 

 

Executives

 

Name

Title

Function

 

Eric Chan

 

CEO

Chief Executive Officer

 

Siew Ka Wei

 

Group Managing Director

Chief Executive Officer

 

Ka Wei Siew

 

Group Managing Director, Executive Director

Managing Director

 

Biography

Dato' Siew Ka Wei serves as Group Managing Director and Executive Director of Nylex (Malaysia) Bhd since January 29, 2002. He joined the Board on October 12, 1999. He graduated with a Bachelor of Science (Hons) degree in Chemical Engineering and a Master of Science degree in Operational Research from the Imperial College of Science, Technology and Medicine (also Imperial College London), London, United Kingdom. He has working experience in the field of petrochemicals locally and internationally for more than 30 years. He was the Chairman of the Malaysian Chapter of the Young Presidents Organisation (“YPOâ€), an international grouping of more than 10,500 chief executive officers and leaders of companies and organizations over the world. He became a director of the International Board of Directors of YPO in 2000 and served until 2003 during which he was the Chairman of YPO’s Global Leadership Congress held in Beijing, China. Dato’ Siew is currently the Group Managing Director of Ancom Berhad and the Deputy Chairman of Ancom Logistics Berhad (formerly known as Tamco Corporate Holdings Berhad).

 


Age: 55

 


Education:

Imperial College, London, MS (Operational Research)
Imperial College, London, BS (Chemical Engineering)

 

Se Eng Choo

 

Company Secretary

Company Secretary

 

 

Choo Se Eng

 

Co-Company Secretary

Company Secretary

 

 

Sim Whye Geh

 

Company Secretary

Company Secretary

 

 

Yong Aw

 

Finance Manager

Finance Executive

 

 

Michelle Chen

 

CFO

Finance Executive

 

 

Cheng Mr

 

Human Resource Director

Human Resources Executive

 

 

May Ng

 

Manager-Human Resources

Human Resources Executive

 

 

Sally Chong

 

Sales Manager - Plastics

Sales Executive

 

 

Kah Gek Tay

 

Marketing Manager

Marketing Executive

 

 

Zahid Sairan

 

Executive Officer-Information Technology

Information Executive

 

 

Johari Bin Abdul Razak Ahmad

 

Director

Other

 

 

Linell

 

Executive

Other

 

 

 

 

 

Significant Developments

 

Nylex (Malaysia) Berhad Announces Voluntary Winding-up Of Malaysian Roofing Industries Sdn Bhd Mar 08, 2012

 

Nylex (Malaysia) Berhad announced that its subsidiary, Malaysian Roofing Industries Sdn Bhd (MRISB), in its extraordinary general meeting resolved that MRISB be wound-up voluntarily. MRISB has ceased operations since March 16, 2005, and is dormant.

 

Nylex (Malaysia) Berhad Announces FY 2011 Interim Dividend Jun 27, 2011

 

Nylex (Malaysia) Berhad announced its interim cash dividend of MYR 0.0285 per share less 25% income tax for fiscal year 2011. The dividend will be paid on July 26, 2011, and the entitlement date is July 12, 2011.

 

Nylex (Malaysia) Berhad Announces Liquidation Of PT Indomalay Ekatana Roofing Industries Jun 09, 2011

 

Nylex (Malaysia) Berhad announced that the Members' Voluntary Liquidation of its subsidiary, PT Indomalay Ekatana Roofing Industries, has been completed on May 31, 2011, with the decision letter of cancellation of Taxpayer Identification Number dated May 30, 2011, from the Director General of Taxation of Indonesia.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Updated Normal 
31-May-2007

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

395.2

358.9

391.0

523.1

420.3

Revenue

395.2

358.9

391.0

523.1

420.3

Total Revenue

395.2

358.9

391.0

523.1

420.3

 

 

 

 

 

 

    Cost of Revenue

356.2

317.4

353.3

473.4

389.5

Cost of Revenue, Total

356.2

317.4

353.3

473.4

389.5

Gross Profit

39.0

41.5

37.7

49.7

30.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

30.8

27.6

30.9

30.2

17.2

Total Selling/General/Administrative Expenses

30.8

27.6

30.9

30.2

17.2

        Interest Income - Operating

-0.1

-0.2

-0.3

-0.5

-0.5

        Investment Income - Operating

-0.7

-0.4

-0.5

-1.9

-2.2

    Interest/Investment Income - Operating

-0.8

-0.6

-0.8

-2.4

-2.7

Interest Expense (Income) - Net Operating Total

-0.8

-0.6

-0.8

-2.4

-2.7

    Impairment-Assets Held for Sale

0.0

-0.1

0.0

-

-

    Loss (Gain) on Sale of Assets - Operating

-0.2

-0.1

-0.1

0.0

-0.1

Unusual Expense (Income)

-0.2

-0.2

-0.1

0.0

-0.1

    Other Operating Expense

1.7

1.3

2.1

1.5

0.7

    Other, Net

0.0

0.0

0.0

0.0

0.0

Other Operating Expenses, Total

1.7

1.3

2.1

1.5

0.7

Total Operating Expense

387.7

345.5

385.5

502.7

404.7

 

 

 

 

 

 

Operating Income

7.5

13.4

5.5

20.3

15.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-2.3

-1.6

-2.3

-2.9

-2.8

    Interest Expense, Net Non-Operating

-2.3

-1.6

-2.3

-2.9

-2.8

        Investment Income - Non-Operating

-

-

-0.2

0.0

0.0

    Interest/Investment Income - Non-Operating

-

-

-0.2

0.0

0.0

Interest Income (Expense) - Net Non-Operating Total

-2.3

-1.6

-2.6

-2.8

-2.8

Income Before Tax

5.2

11.8

3.0

17.5

12.9

 

 

 

 

 

 

Total Income Tax

0.9

1.4

-0.1

3.2

2.0

Income After Tax

4.2

10.3

3.0

14.3

10.9

 

 

 

 

 

 

    Minority Interest

0.0

0.0

1.2

0.1

0.1

Net Income Before Extraord Items

4.2

10.3

4.2

14.3

11.0

Net Income

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Basic EPS Excl Extraord Items

0.02

0.05

0.02

0.07

0.05

Basic/Primary EPS Incl Extraord Items

0.02

0.05

0.02

0.07

0.05

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

4.2

10.3

4.2

14.3

11.0

Diluted Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Diluted EPS Excl Extraord Items

0.02

0.05

0.02

0.07

0.05

Diluted EPS Incl Extraord Items

0.02

0.05

0.02

0.07

0.05

Dividends per Share - Common Stock Primary Issue

0.01

0.00

0.00

0.01

0.01

Gross Dividends - Common Stock

1.3

0.0

0.0

1.8

2.2

Interest Expense, Supplemental

2.3

1.6

2.2

2.9

2.8

Depreciation, Supplemental

2.6

2.4

2.2

2.2

2.3

Total Special Items

0.5

-0.2

1.1

0.4

0.0

Normalized Income Before Tax

5.7

11.5

4.1

17.9

12.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

0.4

0.1

0.0

Inc Tax Ex Impact of Sp Items

1.0

1.4

0.3

3.3

2.0

Normalized Income After Tax

4.7

10.1

3.8

14.6

10.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.7

10.1

4.9

14.7

11.0

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.05

0.03

0.07

0.05

Diluted Normalized EPS

0.02

0.05

0.03

0.07

0.05

Amort of Acquisition Costs, Supplemental

-

-

-

-

0.0

Amort of Intangibles, Supplemental

0.0

0.1

0.1

0.2

0.1

Rental Expenses

0.9

0.9

0.4

0.5

0.3

Normalized EBIT

7.2

12.6

5.9

18.4

12.9

Normalized EBITDA

9.8

15.0

8.2

20.7

15.4

    Current Tax - Domestic

2.1

2.6

3.8

3.2

2.3

    Current Tax - Foreign

0.6

1.2

-0.1

0.4

0.4

    Current Tax - Other

0.0

-0.1

0.9

0.1

-0.2

Current Tax - Total

2.7

3.8

4.7

3.7

2.5

    Deferred Tax - Domestic

-1.8

-1.8

-3.2

-0.5

-0.4

    Deferred Tax - Other

0.0

-0.5

-1.5

0.0

-0.2

Deferred Tax - Total

-1.8

-2.3

-4.7

-0.5

-0.6

Income Tax - Total

0.9

1.4

-0.1

3.2

2.0

Defined Contribution Expense - Domestic

0.9

0.7

1.2

1.0

0.7

Total Pension Expense

0.9

0.7

1.2

1.0

0.7

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.0105

3.2615

3.4945

3.24

3.3985

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash

14.3

15.0

9.7

13.5

10.6

    Short Term Investments

6.2

5.0

9.9

8.1

6.1

Cash and Short Term Investments

20.5

20.0

19.6

21.6

16.7

        Accounts Receivable - Trade, Gross

71.6

55.0

45.3

85.1

73.7

        Provision for Doubtful Accounts

-2.1

-1.4

-0.6

-0.5

-0.4

    Trade Accounts Receivable - Net

69.5

53.6

44.7

84.6

73.3

    Other Receivables

4.4

2.5

2.9

3.8

2.1

Total Receivables, Net

73.9

56.1

47.6

88.4

75.4

    Inventories - Finished Goods

35.5

26.9

20.4

32.6

26.6

    Inventories - Work In Progress

1.7

1.4

1.3

1.5

1.5

    Inventories - Raw Materials

9.6

6.7

4.1

6.9

5.4

Total Inventory

46.8

35.0

25.8

41.0

33.5

Prepaid Expenses

1.8

0.9

0.4

0.3

0.4

    Other Current Assets

0.0

0.0

-

-

-

Other Current Assets, Total

0.0

0.0

-

-

-

Total Current Assets

142.9

112.1

93.4

151.3

126.1

 

 

 

 

 

 

        Buildings

7.4

6.8

6.4

7.0

6.5

        Land/Improvements

9.1

8.4

0.1

0.1

0.1

        Machinery/Equipment

48.4

44.6

41.0

42.3

38.7

        Construction in Progress

0.0

0.0

1.5

2.6

1.1

    Property/Plant/Equipment - Gross

64.9

59.8

49.1

52.0

46.5

    Accumulated Depreciation

-42.8

-37.2

-31.8

-32.8

-29.3

Property/Plant/Equipment - Net

22.1

22.7

17.2

19.2

17.1

Goodwill, Net

28.8

27.7

26.7

27.3

26.9

Intangibles, Net

0.0

0.0

5.3

5.9

5.8

    LT Investment - Affiliate Companies

-

-

0.0

0.3

0.2

    LT Investments - Other

1.2

1.1

1.0

2.3

2.2

Long Term Investments

1.2

1.1

1.0

2.5

2.4

    Deferred Income Tax - Long Term Asset

9.9

7.5

4.7

0.3

0.4

Other Long Term Assets, Total

9.9

7.5

4.7

0.3

0.4

Total Assets

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

Accounts Payable

45.3

27.7

27.5

57.9

48.9

Accrued Expenses

4.8

4.9

5.0

2.6

1.1

Notes Payable/Short Term Debt

48.6

38.4

25.6

51.4

39.1

Current Portion - Long Term Debt/Capital Leases

6.4

5.8

4.3

4.5

3.9

    Income Taxes Payable

0.3

1.0

0.7

1.2

0.5

    Other Payables

5.1

5.0

5.4

3.0

4.1

    Other Current Liabilities

0.3

0.0

-

-

-

Other Current liabilities, Total

5.7

6.1

6.1

4.1

4.6

Total Current Liabilities

110.8

82.8

68.5

120.6

97.7

 

 

 

 

 

 

    Long Term Debt

0.3

4.3

9.4

13.7

16.9

    Capital Lease Obligations

0.2

0.0

0.0

0.0

0.1

Total Long Term Debt

0.5

4.3

9.4

13.7

17.0

Total Debt

55.5

48.5

39.3

69.6

60.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.5

0.5

0.5

0.9

1.4

Deferred Income Tax

0.5

0.5

0.5

0.9

1.4

Minority Interest

2.0

1.2

1.3

2.6

1.4

    Pension Benefits - Underfunded

1.2

1.1

1.1

1.4

1.3

Other Liabilities, Total

1.2

1.1

1.1

1.4

1.3

Total Liabilities

114.9

89.9

80.8

139.2

118.7

 

 

 

 

 

 

    Common Stock

64.6

59.6

55.6

60.0

57.2

Common Stock

64.6

59.6

55.6

60.0

57.2

Additional Paid-In Capital

0.3

0.2

0.2

0.2

0.2

Retained Earnings (Accumulated Deficit)

31.5

27.6

17.0

19.5

5.6

Treasury Stock - Common

0.0

-2.6

-3.7

-7.7

0.0

    Translation Adjustment

-6.3

-3.7

-1.5

-4.6

-3.1

Other Equity, Total

-6.3

-3.7

-1.5

-4.6

-3.1

Total Equity

90.0

81.2

67.6

67.4

59.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

200.4

194.3

191.1

194.7

213.9

Total Common Shares Outstanding

200.4

194.3

191.1

194.7

213.9

Treasury Shares - Common Stock Primary Issue

0.0

6.1

9.3

19.2

0.0

Number of Common Shareholders

-

14,093

14,175

5,632

6,374

Accumulated Goodwill Amortization Suppl.

-

-

-

-

0.0

Accumulated Intangible Amort, Suppl.

-

-

-

-

0.1

Total Long Term Debt, Supplemental

55.5

48.5

39.3

69.6

60.0

Long Term Debt Maturing within 1 Year

55.0

44.2

30.0

55.9

43.0

Long Term Debt Maturing in Year 2

0.3

4.0

5.4

4.5

4.3

Long Term Debt Maturing in Year 3

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in Year 4

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in Year 5

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in 2-3 Years

0.3

4.1

6.7

7.5

8.5

Long Term Debt Maturing in 4-5 Years

0.1

0.2

2.7

6.1

8.5

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.2

0.0

0.0

0.1

0.1

Capital Lease Payments Due in Year 1

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 2

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 3

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 4

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in 2-3 Years

0.1

0.0

0.0

0.0

0.0

Capital Lease Payments Due in 4-5 Years

0.1

0.0

0.0

0.0

0.0

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

-

-

-

Total Operating Leases, Supplemental

2.7

3.3

-

-

-

Operating Lease Payments Due in Year 1

0.8

0.7

-

-

-

Operating Lease Payments Due in Year 2

0.5

0.9

-

-

-

Operating Lease Payments Due in Year 3

0.1

0.1

-

-

-

Operating Lease Payments Due in Year 4

0.1

0.1

-

-

-

Operating Lease Payments Due in Year 5

0.1

0.1

-

-

-

Operating Lease Pymts. Due in 2-3 Years

0.6

1.0

-

-

-

Operating Lease Pymts. Due in 4-5 Years

0.2

0.3

-

-

-

Oper. Lse. Pymts. Due in Year 6 & Beyond

1.0

1.3

-

-

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

5.2

11.8

3.0

17.5

12.9

    Depreciation

2.6

2.4

2.2

2.2

2.3

Depreciation/Depletion

2.6

2.4

2.2

2.2

2.3

    Amortization of Intangibles

0.0

0.1

0.1

0.2

0.2

Amortization

0.0

0.1

0.1

0.2

0.2

    Unusual Items

0.2

-0.2

0.8

0.0

-0.1

    Equity in Net Earnings (Loss)

-

-

0.2

0.0

0.0

    Other Non-Cash Items

8.5

1.2

2.8

5.1

-0.4

Non-Cash Items

8.7

0.9

3.8

5.1

-0.5

    Accounts Receivable

-13.0

-8.2

36.2

-9.6

-7.8

    Inventories

-11.1

-8.8

13.5

-7.2

-2.6

    Accounts Payable

10.0

0.1

-24.9

5.0

5.4

    Other Operating Cash Flow

-4.3

-2.5

-4.3

-3.9

-3.1

Changes in Working Capital

-18.4

-19.4

20.5

-15.8

-8.1

Cash from Operating Activities

-2.0

-4.3

29.6

9.2

6.7

    Purchase of Fixed Assets

-0.8

-1.5

-1.7

-3.6

-1.7

Capital Expenditures

-0.8

-1.5

-1.7

-3.6

-1.7

    Acquisition of Business

-0.1

0.0

0.0

1.3

-19.8

    Sale of Business

-

-

-

0.0

0.0

    Sale of Fixed Assets

0.1

0.4

0.1

0.0

0.1

    Sale/Maturity of Investment

0.7

0.0

1.1

0.0

0.2

    Purchase of Investments

-0.1

-0.5

0.0

0.0

-1.2

    Other Investing Cash Flow

1.0

0.2

0.3

1.9

2.2

Other Investing Cash Flow Items, Total

1.7

0.1

1.5

3.2

-18.6

Cash from Investing Activities

0.9

-1.4

-0.2

-0.4

-20.3

    Other Financing Cash Flow

-2.5

-1.7

-2.3

-2.9

-2.8

Financing Cash Flow Items

-2.5

-1.7

-2.3

-2.9

-2.8

    Cash Dividends Paid - Common

-

-

-1.7

-1.1

-2.6

Total Cash Dividends Paid

-

-

-1.7

-1.1

-2.6

        Sale/Issuance of Common

-

-

-

0.0

5.0

        Repurchase/Retirement of Common

-

-

-0.1

-7.4

0.0

    Common Stock, Net

-

-

-0.1

-7.4

5.0

Issuance (Retirement) of Stock, Net

-

-

-0.1

-7.4

5.0

        Long Term Debt Issued

41.3

18.0

20.0

55.9

78.1

        Long Term Debt Reduction

-38.2

-11.6

-46.4

-49.0

-57.3

    Long Term Debt, Net

3.1

6.4

-26.4

6.9

20.8

Issuance (Retirement) of Debt, Net

3.1

6.4

-26.4

6.9

20.8

Cash from Financing Activities

0.7

4.7

-30.5

-4.5

20.4

 

 

 

 

 

 

Foreign Exchange Effects

-1.2

-0.5

1.5

-0.8

-1.2

Net Change in Cash

-1.6

-1.4

0.4

3.4

5.6

 

 

 

 

 

 

Net Cash - Beginning Balance

21.2

20.3

18.8

17.1

9.9

Net Cash - Ending Balance

19.6

18.8

19.2

20.5

15.5

Cash Interest Paid

2.3

1.6

2.3

2.9

2.8

Cash Taxes Paid

4.2

2.3

4.1

3.8

3.0

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Updated Normal 
31-May-2007

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales

395.2

358.9

391.0

523.1

420.3

Total Revenue

395.2

358.9

391.0

523.1

420.3

 

 

 

 

 

 

    Cost of Sales

356.2

317.4

353.3

473.4

389.5

    Interest Income

-0.1

-0.2

-0.3

-0.5

-0.5

    Disposal Fixed Asset

-0.1

-0.1

-0.1

0.0

0.0

    Dividend Income

0.0

0.0

0.0

-1.9

-2.2

    Reversal of impairment of investment

0.0

-0.1

0.0

-

-

    Fair value gain on investments

0.0

0.0

-

-

-

    Fair value gain on derivatives Gain on d

0.0

0.0

-

-

-

    Gain on disposal of investment

-0.3

0.0

-

-

-

    Gain on winding up of a subsidiary

-0.1

0.0

-

-

-

    Realised gain on foreign exchange

-0.3

-0.4

-0.5

0.0

-

    Other Operating Income

0.0

0.0

0.0

0.0

0.0

    Selling/Distribution

16.2

14.5

18.4

17.2

13.3

    Administrative

14.6

13.1

12.5

13.1

3.9

    Other Operating Expenses

1.7

1.3

2.1

1.5

0.7

    Gain on Disposal of a Subsidiry

-

-

-

0.0

-0.1

    Gain on Disposal of Investment

-

-

-

-

0.0

Total Operating Expense

387.7

345.5

385.5

502.7

404.7

 

 

 

 

 

 

    Interest Expense

-2.3

-1.6

-2.3

-2.9

-2.8

    Share/Associates

-

-

-0.2

0.0

0.0

Net Income Before Taxes

5.2

11.8

3.0

17.5

12.9

 

 

 

 

 

 

Provision for Income Taxes

0.9

1.4

-0.1

3.2

2.0

Net Income After Taxes

4.2

10.3

3.0

14.3

10.9

 

 

 

 

 

 

    Minority Interest

0.0

0.0

1.2

0.1

0.1

Net Income Before Extra. Items

4.2

10.3

4.2

14.3

11.0

Net Income

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Basic Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Basic EPS Excluding ExtraOrdinary Items

0.02

0.05

0.02

0.07

0.05

Basic EPS Including ExtraOrdinary Item

0.02

0.05

0.02

0.07

0.05

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

4.2

10.3

4.2

14.3

11.0

Diluted Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Diluted EPS Excluding ExtraOrd Items

0.02

0.05

0.02

0.07

0.05

Diluted EPS Including ExtraOrd Items

0.02

0.05

0.02

0.07

0.05

DPS-Ordinary Shares

0.01

0.00

0.00

0.01

0.01

Gross Dividends - Common Stock

1.3

0.0

0.0

1.8

2.2

Normalized Income Before Taxes

5.7

11.5

4.1

17.9

12.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.0

1.4

0.3

3.3

2.0

Normalized Income After Taxes

4.7

10.1

3.8

14.6

10.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.7

10.1

4.9

14.7

11.0

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.05

0.03

0.07

0.05

Diluted Normalized EPS

0.02

0.05

0.03

0.07

0.05

Interest Expense

2.3

1.6

2.2

2.9

2.8

Depreciation

2.6

2.4

2.2

2.2

2.3

Amort of Acquisition Costs

-

-

-

-

0.0

Amort of Intangibles

0.0

0.1

0.1

0.2

0.1

Rental Expense

0.9

0.9

0.4

0.5

0.3

    Current Tax - Malaysian

2.1

2.6

3.8

3.2

2.3

    Current Tax - Foreign

0.6

1.2

-0.1

0.4

0.4

    Under Provision Malaysian income tax

0.0

0.0

-

-

-

    Under Provision Foreign tax

0.0

0.0

-

-

-

    Over / Under Provisions

-

-

0.9

0.1

-0.2

Current Tax - Total

2.7

3.8

4.7

3.7

2.5

    Deferred Tax

-1.8

-1.8

-3.2

-0.5

-0.4

    Underprovision

0.0

-0.5

-1.5

0.0

-

    Deferred Tax Benefits

-

-

-

-

-0.2

Deferred Tax - Total

-1.8

-2.3

-4.7

-0.5

-0.6

Income Tax - Total

0.9

1.4

-0.1

3.2

2.0

Employee Provident Fund - Pension

0.9

0.7

1.2

1.0

0.7

Total Pension Expense

0.9

0.7

1.2

1.0

0.7

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.0105

3.2615

3.4945

3.24

3.3985

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Goods

33.2

26.8

19.6

32.6

26.6

    Work in Progress

1.7

1.4

1.3

1.5

1.5

    Raw Materials

9.6

6.7

4.1

6.9

5.4

    Stock in Transit

2.3

0.1

0.8

0.0

0.0

    Trade Debtors

71.6

55.0

45.3

85.1

73.7

    Bad Debt Prov.

-2.1

-1.4

-0.6

-0.5

-0.4

    Other Debtors

1.8

1.9

1.3

1.0

0.6

    ST Deposits

1.1

0.1

0.1

0.1

0.1

    Prepayments

1.8

0.9

0.4

0.3

0.4

    Investment securities

0.2

0.4

0.2

0.4

0.4

    Tax Recoverable

1.5

0.5

1.5

2.7

1.4

    Owed by Group

0.0

0.0

0.0

0.1

0.1

    Derivative assets

0.0

0.0

-

-

-

    ST Deposits/Bank

6.0

4.7

9.7

7.7

5.7

    Cash & Bank Balances

14.3

15.0

9.7

13.5

10.6

Total Current Assets

142.9

112.1

93.4

151.3

126.1

 

 

 

 

 

 

    Prepaid Lease Payments

-

-

5.3

5.8

5.6

    Freehold Land

0.0

0.0

0.1

0.1

0.1

    Buildings

0.0

0.0

0.1

0.1

0.1

    Leasehold land

9.1

8.4

-

-

-

    Leasehold Build.

7.4

6.8

6.3

6.8

6.4

    Plant/Machinery

43.1

40.2

37.8

38.7

35.8

    Fixt./Fittings

0.5

0.4

0.4

0.4

0.4

    Office Equipment

2.9

2.6

1.6

1.7

1.2

    Motor Vehicles

1.9

1.4

1.2

1.5

1.3

    Capital WIP

0.0

0.0

1.5

2.6

1.1

    Depreciation

-42.8

-37.2

-31.8

-32.8

-29.3

    Quoted Investments

-

-

0.0

1.2

1.1

    Investments-Associates

-

-

0.0

0.3

0.2

    Available for sale investments

1.2

1.1

1.0

1.1

1.1

    Intangibles

0.0

0.0

0.1

0.1

0.2

    Goodwill

28.8

27.7

26.7

27.3

26.9

    Deferred Tax

9.9

7.5

4.7

0.3

0.4

Total Assets

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    Trade Creditors

45.0

27.0

25.4

54.5

47.8

    Other creditors and accrued expenses

5.1

5.0

5.4

3.0

4.1

    Accruals

4.8

4.9

5.0

2.6

1.1

    Amount owing to related companies

0.2

0.7

2.2

3.4

1.1

    Provision for warranties

0.3

0.0

-

-

-

    Trust Receipts

13.5

11.2

0.4

15.8

10.8

    Revolving credits

1.0

0.2

0.5

0.0

-

    Term Loan

6.3

5.8

4.3

4.4

3.9

    Bank Overdraft

0.1

0.0

0.1

0.1

0.0

    ST Loans/Secured

34.1

26.9

24.6

35.5

28.3

    ST Hire Purchase

0.0

0.0

0.0

0.0

0.0

    Taxation

0.3

1.0

0.7

1.2

0.5

Total Current Liabilities

110.8

82.8

68.5

120.6

97.7

 

 

 

 

 

 

    Long term borrowings

0.3

4.3

9.4

13.7

16.9

    Hire Purchase Creditors

0.2

0.0

0.0

0.0

0.1

Total Long Term Debt

0.5

4.3

9.4

13.7

17.0

 

 

 

 

 

 

    Minority Int.

2.0

1.2

1.3

2.6

1.4

    Deferred Tax

0.5

0.5

0.5

0.9

1.4

    Retirement Ben.

1.2

1.1

1.1

1.4

1.3

Total Liabilities

114.9

89.9

80.8

139.2

118.7

 

 

 

 

 

 

    Share Capital

64.6

59.6

55.6

60.0

57.2

    Share Premium

0.3

0.2

0.2

0.2

0.2

    Translation Adj.

-6.3

-3.7

-1.5

-4.6

-3.1

    Retained Profit

31.5

27.6

17.0

19.5

5.6

    Treasury Shares

0.0

-2.6

-3.7

-7.7

0.0

Total Equity

90.0

81.2

67.6

67.4

59.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    S/O-Ordinary Shares

200.4

194.3

191.1

194.7

213.9

Total Common Shares Outstanding

200.4

194.3

191.1

194.7

213.9

T/S-Ordinary Shares

0.0

6.1

9.3

19.2

0.0

Intangible Amortization

-

-

-

-

0.1

Goodwill Amortization

-

-

-

-

0.0

Number of Common Shareholders

-

14,093

14,175

5,632

6,374

Long Term Debt-Within 1 Year

55.0

44.2

30.0

55.9

43.0

Long Term Debt-Within 1-2 Years

0.3

4.0

5.4

4.5

4.3

Long Term Debt-Between 2 to 5 Years

0.2

0.4

4.0

9.2

12.7

Long Term Debt - Remaining Maturities

0.0

0.0

-

-

-

Total Long Term Debt, Supplemental

55.5

48.5

39.3

69.6

60.0

Finance Lease-Within 1 Year

0.0

0.0

0.0

0.0

0.0

Finance Lease-Between 1 to 2 Years

0.0

0.0

0.0

0.0

0.0

Finance Lease-Between 2 to 5 Years

0.1

0.0

0.0

0.0

0.0

Finance Lease-After 5 Years

0.0

0.0

-

-

-

Total Capital Leases

0.2

0.0

0.0

0.1

0.1

Operating Lease Due within 1Year

0.8

0.7

-

-

-

Operating Lease Due within 1-2 Year

0.5

0.9

-

-

-

Operating Lease Due within 2-3 Year

0.3

0.4

-

-

-

Operating Lease Due after 5 Years

1.0

1.3

-

-

-

Total Operating Leases

2.7

3.3

-

-

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

5.2

11.8

3.0

17.5

12.9

    Depreciation

2.6

2.4

2.2

2.2

2.3

    Interest Expense

2.3

1.6

2.3

2.9

2.8

    Amortisation of intangible assets

0.0

0.1

-

-

-

    Impairment of Investments

0.0

-0.1

0.8

0.1

-0.1

    Fair value gain on investments

0.0

0.0

-

-

-

    Fair value gain on derivatives

0.0

0.0

-

-

-

    Amortisation of Prepaid Lease Payment

-

-

0.1

0.1

0.1

    Amort. Dev. Exp.

-

-

0.0

0.0

0.0

    Amortization of Rights

-

-

0.1

0.1

0.1

    Impairment-Fixed Assets

0.6

0.0

-

-

-

    Bad Debt w/o

0.0

0.0

0.0

-0.2

0.0

    Write Down of Inventories

0.6

0.5

0.4

0.4

0.1

    Impairment loss on trade and other recei

0.4

0.7

0.2

0.3

-0.7

    Unreal. Foreign Exch

0.6

0.7

-0.5

0.7

0.2

    Provision for warranties

0.3

0.0

-

-

-

    Prov. Retirement Ben

0.1

0.1

0.0

0.1

0.1

    Dividend Income

0.0

0.0

0.0

-1.9

-2.2

    Interest Income

-0.1

-0.2

-0.3

-0.5

-0.5

    Disposal Assets

-0.1

-0.1

-0.1

0.0

0.0

    Deemed Disposal of Interest in Subsid.

-

-

-

0.0

-0.1

    Gain on winding up of a subsidiary

-0.1

0.0

-

-

-

    Disposal of Investment

-0.3

0.0

-

0.0

0.0

    Share Associates

-

-

0.2

0.0

0.0

    Debtors

-13.0

-8.2

36.2

-9.6

-7.8

    Stocks

-11.1

-8.8

13.5

-7.2

-2.6

    Creditors

10.0

0.1

-24.9

5.0

5.4

    Intercompany

4.4

-2.3

0.8

3.3

-0.2

    Income Taxes Paid

-4.2

-2.3

-4.1

-3.8

-3.0

    Retirement Ben. Paid

-0.1

-0.2

-0.2

-0.1

-0.1

Cash from Operating Activities

-2.0

-4.3

29.6

9.2

6.7

 

 

 

 

 

 

    Disposal of Fixed Assets

0.1

0.4

0.1

0.0

0.1

    Capital Expenditures

-0.8

-1.5

-1.7

-3.6

-1.7

    Additional interests in subsidiaries

0.0

-0.5

0.0

0.0

-0.2

    Acquisition of Investment

-

-

-

0.0

-1.1

    Acquisition of Marketable Secs.

-0.1

0.0

0.0

0.0

-

    Shortfall in profit guarantee

0.0

0.0

-

-

-

    Disposal of Marketable Secs.

0.7

0.0

1.1

0.0

0.2

    Disposal Subsidiary

-

-

-

0.0

0.0

    Acquisition of Subsidiary

-0.1

0.0

0.0

1.3

-19.8

    Transaction costs paid by minority int.

-0.1

0.0

0.0

0.0

-

    Share Issue Expenses

-

-

-

0.0

-0.1

    Interest Received

0.1

0.2

0.3

0.5

0.5

    Dividend-Unquoted Shares

-

-

0.0

1.3

1.6

    Dividend-Quoted Shares

-

-

0.0

0.0

0.0

    capital in a subsidiary

0.9

0.0

-

-

-

    Dividend-Marketable Secs.

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

0.9

-1.4

-0.2

-0.4

-20.3

 

 

 

 

 

 

    Dividend/Shareholder

-

-

-1.7

-1.1

-2.6

    Dividends paid to minority shareholders

-0.1

-0.1

0.0

-

-

    Issue of Shares

-

-

-

0.0

5.0

    Repay Hire Purch.

0.0

0.0

0.0

0.0

0.0

    Drawdown of term loan and advances

41.3

18.0

20.0

55.9

78.1

    Repayment of term loan and advances

-38.2

-11.6

-46.4

-49.0

-57.3

    Interest Paid

-2.3

-1.6

-2.3

-2.9

-2.8

    Purchase of Companys own Shares

-

-

-0.1

-7.4

0.0

Cash from Financing Activities

0.7

4.7

-30.5

-4.5

20.4

 

 

 

 

 

 

Foreign Exchange Effects

-1.2

-0.5

1.5

-0.8

-1.2

Net Change in Cash

-1.6

-1.4

0.4

3.4

5.6

 

 

 

 

 

 

Cash and Cash Equivalents at beginning o

21.2

20.3

18.8

17.1

9.9

Net Cash - Ending Balance

19.6

18.8

19.2

20.5

15.5

    Cash Interest Paid

2.3

1.6

2.3

2.9

2.8

    Cash Taxes Paid

4.2

2.3

4.1

3.8

3.0

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
29-Feb-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-May-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

111.0

16.64%

395.2

0.38%

-11.03%

12.85%

Operating Income1

0.5

-61.00%

7.5

-48.68%

-29.90%

-4.94%

Income Available to Common Excl Extraord Items1

0.0

-96.39%

4.2

-62.45%

-34.89%

-6.28%

Basic EPS Excl Extraord Items1

0.00

-96.24%

0.02

-63.25%

-33.54%

-6.46%

Capital Expenditures2

3.4

169.81%

0.8

-49.34%

-40.37%

-9.40%

Cash from Operating Activities2

6.8

-

-2.0

-

-

-

Free Cash Flow

3.4

-

-2.9

-

-

-

Total Assets3

194.7

4.63%

204.9

10.54%

-2.68%

11.95%

Total Liabilities3

103.6

5.33%

114.9

18.02%

-8.45%

13.11%

Total Long Term Debt3

1.0

77.35%

0.5

-89.61%

-67.90%

171.12%

Total Common Shares Outstanding3

194.2

3.07%

200.4

3.12%

0.96%

0.60%

1-ExchangeRate: MYR to USD Average for Period

3.104473

 

3.104038

 

 

 

2-ExchangeRate: MYR to USD Average for Period

3.074850

 

3.104038

 

 

 

3-ExchangeRate: MYR to USD Period End Date

3.013616

 

3.010500

 

 

 

Key Ratios

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Profitability

Gross Margin

9.86%

11.56%

9.63%

9.50%

7.32%

Operating Margin

1.90%

3.72%

1.41%

3.89%

3.72%

Pretax Margin

1.31%

3.27%

0.76%

3.34%

3.06%

Net Profit Margin

1.07%

2.87%

1.08%

2.74%

2.61%

Financial Strength

Current Ratio

1.29

1.35

1.36

1.25

1.29

Long Term Debt/Equity

0.01

0.05

0.14

0.20

0.28

Total Debt/Equity

0.62

0.60

0.58

1.03

1.00

Management Effectiveness

Return on Assets

2.24%

6.53%

1.79%

7.44%

8.13%

Return on Equity

4.92%

14.01%

6.47%

22.64%

21.37%

Efficiency

Receivables Turnover

6.05

7.00

6.03

6.42

7.52

Inventory Turnover

8.67

10.57

11.06

12.77

16.42

Asset Turnover

2.09

2.27

2.30

2.73

3.14

Market Valuation USD (mil)

P/E (TTM)

6.37

.

Enterprise Value2

70.2

Price/Sales (TTM)

0.07

.

Enterprise Value/Revenue (TTM)

0.15

Price/Book (MRQ)

0.38

.

Enterprise Value/EBITDA (TTM)

6.48

Market Cap as of 25-May-20121

 

.

 

 

1-ExchangeRate: MYR to USD on 25-May-2012

 

 

 

 

2-ExchangeRate: MYR to USD on 29-Feb-2012

3.013616

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

                                                                                      

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Financial Strength

Current Ratio

1.29

1.35

1.36

1.25

1.29

Quick/Acid Test Ratio

0.85

0.92

0.98

0.91

0.94

Working Capital1

32.1

29.3

24.9

30.7

28.4

Long Term Debt/Equity

0.01

0.05

0.14

0.20

0.28

Total Debt/Equity

0.62

0.60

0.58

1.03

1.00

Long Term Debt/Total Capital

0.00

0.03

0.09

0.10

0.14

Total Debt/Total Capital

0.38

0.37

0.37

0.51

0.50

Payout Ratio

31.89%

0.00%

0.00%

13.25%

18.99%

Effective Tax Rate

18.11%

12.13%

-2.33%

18.52%

15.29%

Total Capital1

145.5

129.7

107.0

137.0

119.9

 

 

 

 

 

 

Efficiency

Asset Turnover

2.09

2.27

2.30

2.73

3.14

Inventory Turnover

8.67

10.57

11.06

12.77

16.42

Days In Inventory

42.09

34.52

32.99

28.57

22.23

Receivables Turnover

6.05

7.00

6.03

6.42

7.52

Days Receivables Outstanding

60.31

52.18

60.50

56.86

48.52

 

 

 

 

 

 

Profitability

Gross Margin

9.86%

11.56%

9.63%

9.50%

7.32%

Operating Margin

1.90%

3.72%

1.41%

3.89%

3.72%

EBITDA Margin

2.55%

4.41%

2.01%

4.34%

4.30%

EBIT Margin

1.90%

3.72%

1.41%

3.89%

3.72%

Pretax Margin

1.31%

3.27%

0.76%

3.34%

3.06%

Net Profit Margin

1.07%

2.87%

1.08%

2.74%

2.61%

COGS/Revenue

90.14%

88.44%

90.37%

90.50%

92.68%

SG&A Expense/Revenue

7.79%

7.70%

7.89%

5.78%

4.10%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

2.24%

6.53%

1.79%

7.44%

8.13%

Return on Equity

4.92%

14.01%

6.47%

22.64%

21.37%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-0.01

-0.03

0.15

0.03

0.02

Operating Cash Flow/Share 2

-0.01

-0.02

0.16

0.05

0.03

1-ExchangeRate: MYR to USD Period End Date

3.0105

3.2615

3.4945

3.24

3.3985

2-ExchangeRate: MYR to USD Average for Period

3.0105

3.2615

3.4945

3.24

3.3985

 

Current Market Multiples

Market Cap/Earnings (TTM)

6.37

Market Cap/Equity (MRQ)

0.38

Market Cap/Revenue (TTM)

0.07

Market Cap/EBIT (TTM)

3.39

Market Cap/EBITDA (TTM)

3.22

Enterprise Value/Earnings (TTM)

12.84

Enterprise Value/Equity (MRQ)

0.77

Enterprise Value/Revenue (TTM)

0.15

Enterprise Value/EBIT (TTM)

6.84

Enterprise Value/EBITDA (TTM)

6.48

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Updated Normal 
31-May-2007

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

395.2

358.9

391.0

523.1

420.3

Revenue

395.2

358.9

391.0

523.1

420.3

Total Revenue

395.2

358.9

391.0

523.1

420.3

 

 

 

 

 

 

    Cost of Revenue

356.2

317.4

353.3

473.4

389.5

Cost of Revenue, Total

356.2

317.4

353.3

473.4

389.5

Gross Profit

39.0

41.5

37.7

49.7

30.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

30.8

27.6

30.9

30.2

17.2

Total Selling/General/Administrative Expenses

30.8

27.6

30.9

30.2

17.2

        Interest Income - Operating

-0.1

-0.2

-0.3

-0.5

-0.5

        Investment Income - Operating

-0.7

-0.4

-0.5

-1.9

-2.2

    Interest/Investment Income - Operating

-0.8

-0.6

-0.8

-2.4

-2.7

Interest Expense (Income) - Net Operating Total

-0.8

-0.6

-0.8

-2.4

-2.7

    Impairment-Assets Held for Sale

0.0

-0.1

0.0

-

-

    Loss (Gain) on Sale of Assets - Operating

-0.2

-0.1

-0.1

0.0

-0.1

Unusual Expense (Income)

-0.2

-0.2

-0.1

0.0

-0.1

    Other Operating Expense

1.7

1.3

2.1

1.5

0.7

    Other, Net

0.0

0.0

0.0

0.0

0.0

Other Operating Expenses, Total

1.7

1.3

2.1

1.5

0.7

Total Operating Expense

387.7

345.5

385.5

502.7

404.7

 

 

 

 

 

 

Operating Income

7.5

13.4

5.5

20.3

15.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-2.3

-1.6

-2.3

-2.9

-2.8

    Interest Expense, Net Non-Operating

-2.3

-1.6

-2.3

-2.9

-2.8

        Investment Income - Non-Operating

-

-

-0.2

0.0

0.0

    Interest/Investment Income - Non-Operating

-

-

-0.2

0.0

0.0

Interest Income (Expense) - Net Non-Operating Total

-2.3

-1.6

-2.6

-2.8

-2.8

Income Before Tax

5.2

11.8

3.0

17.5

12.9

 

 

 

 

 

 

Total Income Tax

0.9

1.4

-0.1

3.2

2.0

Income After Tax

4.2

10.3

3.0

14.3

10.9

 

 

 

 

 

 

    Minority Interest

0.0

0.0

1.2

0.1

0.1

Net Income Before Extraord Items

4.2

10.3

4.2

14.3

11.0

Net Income

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Basic EPS Excl Extraord Items

0.02

0.05

0.02

0.07

0.05

Basic/Primary EPS Incl Extraord Items

0.02

0.05

0.02

0.07

0.05

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

4.2

10.3

4.2

14.3

11.0

Diluted Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Diluted EPS Excl Extraord Items

0.02

0.05

0.02

0.07

0.05

Diluted EPS Incl Extraord Items

0.02

0.05

0.02

0.07

0.05

Dividends per Share - Common Stock Primary Issue

0.01

0.00

0.00

0.01

0.01

Gross Dividends - Common Stock

1.3

0.0

0.0

1.8

2.2

Interest Expense, Supplemental

2.3

1.6

2.2

2.9

2.8

Depreciation, Supplemental

2.6

2.4

2.2

2.2

2.3

Total Special Items

0.5

-0.2

1.1

0.4

0.0

Normalized Income Before Tax

5.7

11.5

4.1

17.9

12.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

0.4

0.1

0.0

Inc Tax Ex Impact of Sp Items

1.0

1.4

0.3

3.3

2.0

Normalized Income After Tax

4.7

10.1

3.8

14.6

10.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.7

10.1

4.9

14.7

11.0

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.05

0.03

0.07

0.05

Diluted Normalized EPS

0.02

0.05

0.03

0.07

0.05

Amort of Acquisition Costs, Supplemental

-

-

-

-

0.0

Amort of Intangibles, Supplemental

0.0

0.1

0.1

0.2

0.1

Rental Expenses

0.9

0.9

0.4

0.5

0.3

Normalized EBIT

7.2

12.6

5.9

18.4

12.9

Normalized EBITDA

9.8

15.0

8.2

20.7

15.4

    Current Tax - Domestic

2.1

2.6

3.8

3.2

2.3

    Current Tax - Foreign

0.6

1.2

-0.1

0.4

0.4

    Current Tax - Other

0.0

-0.1

0.9

0.1

-0.2

Current Tax - Total

2.7

3.8

4.7

3.7

2.5

    Deferred Tax - Domestic

-1.8

-1.8

-3.2

-0.5

-0.4

    Deferred Tax - Other

0.0

-0.5

-1.5

0.0

-0.2

Deferred Tax - Total

-1.8

-2.3

-4.7

-0.5

-0.6

Income Tax - Total

0.9

1.4

-0.1

3.2

2.0

Defined Contribution Expense - Domestic

0.9

0.7

1.2

1.0

0.7

Total Pension Expense

0.9

0.7

1.2

1.0

0.7

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104473

3.118403

3.003047

3.020678

3.081933

 

 

 

 

 

 

    Net Sales

111.0

122.1

109.3

129.8

95.8

Revenue

111.0

122.1

109.3

129.8

95.8

Total Revenue

111.0

122.1

109.3

129.8

95.8

 

 

 

 

 

 

    Cost of Revenue

102.5

111.5

98.5

116.4

86.0

Cost of Revenue, Total

102.5

111.5

98.5

116.4

86.0

Gross Profit

8.5

10.6

10.8

13.4

9.9

 

 

 

 

 

 

    Selling/General/Administrative Expense

7.2

8.1

7.5

9.7

7.7

Total Selling/General/Administrative Expenses

7.2

8.1

7.5

9.7

7.7

        Interest Expense - Operating

0.6

0.6

0.6

0.7

0.6

    Interest Expense - Net Operating

0.6

0.6

0.6

0.7

0.6

        Investment Income - Operating

-

-

-

0.0

-

    Interest/Investment Income - Operating

-

-

-

0.0

-

Interest Expense (Income) - Net Operating Total

0.6

0.6

0.6

0.7

0.6

    Other Operating Expense

0.8

0.0

0.2

0.9

0.3

    Other, Net

-0.7

0.0

-0.1

-0.5

-0.1

Other Operating Expenses, Total

0.1

0.0

0.1

0.4

0.2

Total Operating Expense

110.4

120.2

106.7

127.1

94.4

 

 

 

 

 

 

Operating Income

0.5

1.8

2.6

2.6

1.4

 

 

 

 

 

 

Income Before Tax

0.5

1.8

2.6

2.6

1.4

 

 

 

 

 

 

Total Income Tax

0.5

0.5

0.8

0.3

0.2

Income After Tax

0.1

1.3

1.8

2.3

1.2

 

 

 

 

 

 

    Minority Interest

0.0

-0.1

0.0

0.1

0.0

Net Income Before Extraord Items

0.0

1.3

1.8

2.4

1.2

Net Income

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

194.2

194.3

200.4

200.4

191.2

Basic EPS Excl Extraord Items

0.00

0.01

0.01

0.01

0.01

Basic/Primary EPS Incl Extraord Items

0.00

0.01

0.01

0.01

0.01

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

0.0

1.3

1.8

2.4

1.2

Diluted Weighted Average Shares

194.2

194.3

200.4

200.4

191.2

Diluted EPS Excl Extraord Items

0.00

0.01

0.01

0.01

0.01

Diluted EPS Incl Extraord Items

0.00

0.01

0.01

0.01

0.01

Dividends per Share - Common Stock Primary Issue

0.00

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.3

0.0

0.0

0.0

Interest Expense, Supplemental

0.6

0.6

0.6

0.7

0.6

Depreciation, Supplemental

0.5

-

-

-

-

Normalized Income Before Tax

0.5

1.8

2.6

2.6

1.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.5

0.5

0.8

0.3

0.2

Normalized Income After Tax

0.1

1.3

1.8

2.3

1.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Basic Normalized EPS

0.00

0.01

0.01

0.01

0.01

Diluted Normalized EPS

0.00

0.01

0.01

0.01

0.01

Normalized EBIT

1.1

2.4

3.2

3.4

2.0

Normalized EBITDA

1.7

2.4

3.2

3.4

2.0

    Current Tax - Domestic

-

0.7

0.7

0.1

0.5

    Current Tax - Foreign

-

0.2

0.2

0.2

0.2

Current Tax - Total

-

0.9

0.9

0.3

0.6

    Deferred Tax - Domestic

-

-0.4

-0.1

0.0

-0.4

Deferred Tax - Total

-

-0.4

-0.1

0.0

-0.4

    Other Tax

-

0.0

0.0

0.0

0.0

Income Tax - Total

-

0.5

0.8

0.3

0.2

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.0105

3.2615

3.4945

3.24

3.3985

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash

14.3

15.0

9.7

13.5

10.6

    Short Term Investments

6.2

5.0

9.9

8.1

6.1

Cash and Short Term Investments

20.5

20.0

19.6

21.6

16.7

        Accounts Receivable - Trade, Gross

71.6

55.0

45.3

85.1

73.7

        Provision for Doubtful Accounts

-2.1

-1.4

-0.6

-0.5

-0.4

    Trade Accounts Receivable - Net

69.5

53.6

44.7

84.6

73.3

    Other Receivables

4.4

2.5

2.9

3.8

2.1

Total Receivables, Net

73.9

56.1

47.6

88.4

75.4

    Inventories - Finished Goods

35.5

26.9

20.4

32.6

26.6

    Inventories - Work In Progress

1.7

1.4

1.3

1.5

1.5

    Inventories - Raw Materials

9.6

6.7

4.1

6.9

5.4

Total Inventory

46.8

35.0

25.8

41.0

33.5

Prepaid Expenses

1.8

0.9

0.4

0.3

0.4

    Other Current Assets

0.0

0.0

-

-

-

Other Current Assets, Total

0.0

0.0

-

-

-

Total Current Assets

142.9

112.1

93.4

151.3

126.1

 

 

 

 

 

 

        Buildings

7.4

6.8

6.4

7.0

6.5

        Land/Improvements

9.1

8.4

0.1

0.1

0.1

        Machinery/Equipment

48.4

44.6

41.0

42.3

38.7

        Construction in Progress

0.0

0.0

1.5

2.6

1.1

    Property/Plant/Equipment - Gross

64.9

59.8

49.1

52.0

46.5

    Accumulated Depreciation

-42.8

-37.2

-31.8

-32.8

-29.3

Property/Plant/Equipment - Net

22.1

22.7

17.2

19.2

17.1

Goodwill, Net

28.8

27.7

26.7

27.3

26.9

Intangibles, Net

0.0

0.0

5.3

5.9

5.8

    LT Investment - Affiliate Companies

-

-

0.0

0.3

0.2

    LT Investments - Other

1.2

1.1

1.0

2.3

2.2

Long Term Investments

1.2

1.1

1.0

2.5

2.4

    Deferred Income Tax - Long Term Asset

9.9

7.5

4.7

0.3

0.4

Other Long Term Assets, Total

9.9

7.5

4.7

0.3

0.4

Total Assets

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

Accounts Payable

45.3

27.7

27.5

57.9

48.9

Accrued Expenses

4.8

4.9

5.0

2.6

1.1

Notes Payable/Short Term Debt

48.6

38.4

25.6

51.4

39.1

Current Portion - Long Term Debt/Capital Leases

6.4

5.8

4.3

4.5

3.9

    Income Taxes Payable

0.3

1.0

0.7

1.2

0.5

    Other Payables

5.1

5.0

5.4

3.0

4.1

    Other Current Liabilities

0.3

0.0

-

-

-

Other Current liabilities, Total

5.7

6.1

6.1

4.1

4.6

Total Current Liabilities

110.8

82.8

68.5

120.6

97.7

 

 

 

 

 

 

    Long Term Debt

0.3

4.3

9.4

13.7

16.9

    Capital Lease Obligations

0.2

0.0

0.0

0.0

0.1

Total Long Term Debt

0.5

4.3

9.4

13.7

17.0

Total Debt

55.5

48.5

39.3

69.6

60.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.5

0.5

0.5

0.9

1.4

Deferred Income Tax

0.5

0.5

0.5

0.9

1.4

Minority Interest

2.0

1.2

1.3

2.6

1.4

    Pension Benefits - Underfunded

1.2

1.1

1.1

1.4

1.3

Other Liabilities, Total

1.2

1.1

1.1

1.4

1.3

Total Liabilities

114.9

89.9

80.8

139.2

118.7

 

 

 

 

 

 

    Common Stock

64.6

59.6

55.6

60.0

57.2

Common Stock

64.6

59.6

55.6

60.0

57.2

Additional Paid-In Capital

0.3

0.2

0.2

0.2

0.2

Retained Earnings (Accumulated Deficit)

31.5

27.6

17.0

19.5

5.6

Treasury Stock - Common

0.0

-2.6

-3.7

-7.7

0.0

    Translation Adjustment

-6.3

-3.7

-1.5

-4.6

-3.1

Other Equity, Total

-6.3

-3.7

-1.5

-4.6

-3.1

Total Equity

90.0

81.2

67.6

67.4

59.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

200.4

194.3

191.1

194.7

213.9

Total Common Shares Outstanding

200.4

194.3

191.1

194.7

213.9

Treasury Shares - Common Stock Primary Issue

0.0

6.1

9.3

19.2

0.0

Number of Common Shareholders

-

14,093

14,175

5,632

6,374

Accumulated Goodwill Amortization Suppl.

-

-

-

-

0.0

Accumulated Intangible Amort, Suppl.

-

-

-

-

0.1

Total Long Term Debt, Supplemental

55.5

48.5

39.3

69.6

60.0

Long Term Debt Maturing within 1 Year

55.0

44.2

30.0

55.9

43.0

Long Term Debt Maturing in Year 2

0.3

4.0

5.4

4.5

4.3

Long Term Debt Maturing in Year 3

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in Year 4

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in Year 5

0.1

0.1

1.3

3.1

4.2

Long Term Debt Maturing in 2-3 Years

0.3

4.1

6.7

7.5

8.5

Long Term Debt Maturing in 4-5 Years

0.1

0.2

2.7

6.1

8.5

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.2

0.0

0.0

0.1

0.1

Capital Lease Payments Due in Year 1

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 2

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 3

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 4

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.0

0.0

0.0

0.0

0.0

Capital Lease Payments Due in 2-3 Years

0.1

0.0

0.0

0.0

0.0

Capital Lease Payments Due in 4-5 Years

0.1

0.0

0.0

0.0

0.0

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

-

-

-

Total Operating Leases, Supplemental

2.7

3.3

-

-

-

Operating Lease Payments Due in Year 1

0.8

0.7

-

-

-

Operating Lease Payments Due in Year 2

0.5

0.9

-

-

-

Operating Lease Payments Due in Year 3

0.1

0.1

-

-

-

Operating Lease Payments Due in Year 4

0.1

0.1

-

-

-

Operating Lease Payments Due in Year 5

0.1

0.1

-

-

-

Operating Lease Pymts. Due in 2-3 Years

0.6

1.0

-

-

-

Operating Lease Pymts. Due in 4-5 Years

0.2

0.3

-

-

-

Oper. Lse. Pymts. Due in Year 6 & Beyond

1.0

1.3

-

-

-

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Reclassified Normal 
31-Aug-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.013616

3.1785

2.983

3.0105

3.0505

 

 

 

 

 

 

    Cash

16.3

11.2

12.9

14.3

13.2

    Short Term Investments

3.3

4.3

3.7

6.2

4.8

Cash and Short Term Investments

19.7

15.5

16.5

20.5

18.1

    Trade Accounts Receivable - Net

70.5

71.4

69.2

69.5

58.2

    Other Receivables

5.5

5.5

5.3

6.2

4.8

Total Receivables, Net

75.9

76.9

74.5

75.7

62.9

Total Inventory

36.1

39.0

50.1

46.8

39.9

    Other Current Assets

0.0

0.0

0.0

0.0

0.0

Other Current Assets, Total

0.0

0.0

0.0

0.0

0.0

Total Current Assets

131.7

131.4

141.1

142.9

120.9

 

 

 

 

 

 

Property/Plant/Equipment - Net

23.3

22.7

24.6

22.1

23.3

Goodwill, Net

28.7

28.3

28.9

28.8

28.7

Intangibles, Net

0.0

0.0

0.0

0.0

0.0

    LT Investments - Other

0.0

1.1

1.2

1.2

1.2

Long Term Investments

0.0

1.1

1.2

1.2

1.2

    Deferred Income Tax - Long Term Asset

11.0

9.8

10.1

9.9

9.8

Other Long Term Assets, Total

11.0

9.8

10.1

9.9

9.8

Total Assets

194.7

193.3

206.0

204.9

183.8

 

 

 

 

 

 

Accounts Payable

35.8

37.3

47.0

45.3

31.0

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

52.0

49.2

52.3

55.0

53.5

    Income Taxes Payable

1.0

0.5

0.4

0.3

1.0

    Other Payables

10.2

13.1

11.4

10.2

8.1

    Other Current Liabilities

-

0.1

-

0.0

-

Other Current liabilities, Total

11.2

13.7

11.8

10.5

9.0

Total Current Liabilities

98.9

100.2

111.1

110.8

93.5

 

 

 

 

 

 

    Long Term Debt

1.0

1.4

0.3

0.5

0.6

Total Long Term Debt

1.0

1.4

0.3

0.5

0.6

Total Debt

53.0

50.6

52.6

55.5

54.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.5

0.5

0.5

0.5

0.5

Deferred Income Tax

0.5

0.5

0.5

0.5

0.5

Minority Interest

2.1

2.0

2.0

2.0

1.4

    Pension Benefits - Underfunded

1.1

1.1

1.2

1.2

1.1

Other Liabilities, Total

1.1

1.1

1.2

1.2

1.1

Total Liabilities

103.6

105.0

115.1

114.9

97.1

 

 

 

 

 

 

    Common Stock

64.5

61.1

65.1

64.6

63.7

Common Stock

64.5

61.1

65.1

64.6

63.7

Additional Paid-In Capital

-

0.3

0.3

0.3

0.3

Retained Earnings (Accumulated Deficit)

26.7

31.5

32.2

31.5

28.7

Treasury Stock - Common

0.0

0.0

0.0

0.0

0.0

    Translation Adjustment

-

-4.6

-6.7

-6.3

-5.9

Other Equity, Total

-

-4.6

-6.7

-6.3

-5.9

Total Equity

91.1

88.3

91.0

90.0

86.7

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

194.7

193.3

206.0

204.9

183.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

194.2

194.2

200.4

200.4

188.4

Total Common Shares Outstanding

194.2

194.2

200.4

200.4

188.4

Treasury Shares - Common Stock Primary Issue

0.1

0.1

0.0

0.0

0.0

 

 

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

5.2

11.8

3.0

17.5

12.9

    Depreciation

2.6

2.4

2.2

2.2

2.3

Depreciation/Depletion

2.6

2.4

2.2

2.2

2.3

    Amortization of Intangibles

0.0

0.1

0.1

0.2

0.2

Amortization

0.0

0.1

0.1

0.2

0.2

    Unusual Items

0.2

-0.2

0.8

0.0

-0.1

    Equity in Net Earnings (Loss)

-

-

0.2

0.0

0.0

    Other Non-Cash Items

8.5

1.2

2.8

5.1

-0.4

Non-Cash Items

8.7

0.9

3.8

5.1

-0.5

    Accounts Receivable

-13.0

-8.2

36.2

-9.6

-7.8

    Inventories

-11.1

-8.8

13.5

-7.2

-2.6

    Accounts Payable

10.0

0.1

-24.9

5.0

5.4

    Other Operating Cash Flow

-4.3

-2.5

-4.3

-3.9

-3.1

Changes in Working Capital

-18.4

-19.4

20.5

-15.8

-8.1

Cash from Operating Activities

-2.0

-4.3

29.6

9.2

6.7

 

 

 

 

 

 

    Purchase of Fixed Assets

-0.8

-1.5

-1.7

-3.6

-1.7

Capital Expenditures

-0.8

-1.5

-1.7

-3.6

-1.7

    Acquisition of Business

-0.1

0.0

0.0

1.3

-19.8

    Sale of Business

-

-

-

0.0

0.0

    Sale of Fixed Assets

0.1

0.4

0.1

0.0

0.1

    Sale/Maturity of Investment

0.7

0.0

1.1

0.0

0.2

    Purchase of Investments

-0.1

-0.5

0.0

0.0

-1.2

    Other Investing Cash Flow

1.0

0.2

0.3

1.9

2.2

Other Investing Cash Flow Items, Total

1.7

0.1

1.5

3.2

-18.6

Cash from Investing Activities

0.9

-1.4

-0.2

-0.4

-20.3

 

 

 

 

 

 

    Other Financing Cash Flow

-2.5

-1.7

-2.3

-2.9

-2.8

Financing Cash Flow Items

-2.5

-1.7

-2.3

-2.9

-2.8

    Cash Dividends Paid - Common

-

-

-1.7

-1.1

-2.6

Total Cash Dividends Paid

-

-

-1.7

-1.1

-2.6

        Sale/Issuance of Common

-

-

-

0.0

5.0

        Repurchase/Retirement of Common

-

-

-0.1

-7.4

0.0

    Common Stock, Net

-

-

-0.1

-7.4

5.0

Issuance (Retirement) of Stock, Net

-

-

-0.1

-7.4

5.0

        Long Term Debt Issued

41.3

18.0

20.0

55.9

78.1

        Long Term Debt Reduction

-38.2

-11.6

-46.4

-49.0

-57.3

    Long Term Debt, Net

3.1

6.4

-26.4

6.9

20.8

Issuance (Retirement) of Debt, Net

3.1

6.4

-26.4

6.9

20.8

Cash from Financing Activities

0.7

4.7

-30.5

-4.5

20.4

 

 

 

 

 

 

Foreign Exchange Effects

-1.2

-0.5

1.5

-0.8

-1.2

Net Change in Cash

-1.6

-1.4

0.4

3.4

5.6

 

 

 

 

 

 

Net Cash - Beginning Balance

21.2

20.3

18.8

17.1

9.9

Net Cash - Ending Balance

19.6

18.8

19.2

20.5

15.5

Cash Interest Paid

2.3

1.6

2.3

2.9

2.8

Cash Taxes Paid

4.2

2.3

4.1

3.8

3.0

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

9 Months

6 Months

3 Months

12 Months

9 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.07485

3.061334

3.003047

3.104038

3.133911

 

 

 

 

 

 

Net Income/Starting Line

5.0

4.4

2.6

5.2

2.6

    Other Non-Cash Items

4.4

2.4

1.3

2.6

3.8

Non-Cash Items

4.4

2.4

1.3

2.6

3.8

    Accounts Receivable

-0.5

-

-

-

-0.8

    Inventories

9.8

-

-

-

-4.0

    Accounts Payable

-9.9

-

-

-

-6.0

    Other Assets & Liabilities, Net

0.6

-2.8

0.3

-9.8

4.7

    Other Operating Cash Flow

-2.4

-

-

-

-3.1

Changes in Working Capital

-2.5

-2.8

0.3

-9.8

-9.3

Cash from Operating Activities

6.8

4.0

4.2

-2.0

-2.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-3.4

-

-

-

-1.3

Capital Expenditures

-3.4

-

-

-

-1.3

    Acquisition of Business

0.0

-

-

0.0

-0.1

    Sale of Fixed Assets

0.2

-

-

-

0.1

    Investment, Net

0.6

-

-

-

0.7

    Purchase of Investments

0.0

-

-

-0.1

-0.1

    Other Investing Cash Flow

0.7

-3.1

-3.0

1.0

0.1

Other Investing Cash Flow Items, Total

1.6

-3.1

-3.0

0.9

0.7

Cash from Investing Activities

-1.9

-3.1

-3.0

0.9

-0.6

 

 

 

 

 

 

    Other Financing Cash Flow

-1.8

-1.2

-0.6

-2.5

-1.6

Financing Cash Flow Items

-1.8

-1.2

-0.6

-2.5

-1.6

    Cash Dividends Paid - Common

-1.4

-1.4

-1.4

-

0.0

Total Cash Dividends Paid

-1.4

-1.4

-1.4

-

0.0

        Repurchase/Retirement of Common

0.0

0.0

-

-

0.0

    Common Stock, Net

0.0

0.0

-

-

0.0

Issuance (Retirement) of Stock, Net

0.0

0.0

-

-

0.0

        Long Term Debt Issued

22.8

-

-

-

18.6

        Long Term Debt Reduction

-24.8

-

-

0.0

-16.3

    Long Term Debt, Net

-2.0

-2.7

-3.1

3.1

2.4

Issuance (Retirement) of Debt, Net

-2.0

-2.7

-3.1

3.1

2.4

Cash from Financing Activities

-5.2

-5.3

-5.1

0.7

0.7

 

 

 

 

 

 

Foreign Exchange Effects

-0.7

0.7

-0.1

-1.2

-0.8

Net Change in Cash

-0.9

-3.7

-4.0

-1.6

-3.6

 

 

 

 

 

 

Net Cash - Beginning Balance

20.0

19.6

20.3

21.2

21.0

Net Cash - Ending Balance

19.1

15.9

16.3

19.6

17.4

Cash Interest Paid

-

1.2

0.6

2.3

1.6

Cash Taxes Paid

-

-

-

4.2

-

 

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Updated Normal 
31-May-2007

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales

395.2

358.9

391.0

523.1

420.3

Total Revenue

395.2

358.9

391.0

523.1

420.3

 

 

 

 

 

 

    Cost of Sales

356.2

317.4

353.3

473.4

389.5

    Interest Income

-0.1

-0.2

-0.3

-0.5

-0.5

    Disposal Fixed Asset

-0.1

-0.1

-0.1

0.0

0.0

    Dividend Income

0.0

0.0

0.0

-1.9

-2.2

    Reversal of impairment of investment

0.0

-0.1

0.0

-

-

    Fair value gain on investments

0.0

0.0

-

-

-

    Fair value gain on derivatives Gain on d

0.0

0.0

-

-

-

    Gain on disposal of investment

-0.3

0.0

-

-

-

    Gain on winding up of a subsidiary

-0.1

0.0

-

-

-

    Realised gain on foreign exchange

-0.3

-0.4

-0.5

0.0

-

    Other Operating Income

0.0

0.0

0.0

0.0

0.0

    Selling/Distribution

16.2

14.5

18.4

17.2

13.3

    Administrative

14.6

13.1

12.5

13.1

3.9

    Other Operating Expenses

1.7

1.3

2.1

1.5

0.7

    Gain on Disposal of a Subsidiry

-

-

-

0.0

-0.1

    Gain on Disposal of Investment

-

-

-

-

0.0

Total Operating Expense

387.7

345.5

385.5

502.7

404.7

 

 

 

 

 

 

    Interest Expense

-2.3

-1.6

-2.3

-2.9

-2.8

    Share/Associates

-

-

-0.2

0.0

0.0

Net Income Before Taxes

5.2

11.8

3.0

17.5

12.9

 

 

 

 

 

 

Provision for Income Taxes

0.9

1.4

-0.1

3.2

2.0

Net Income After Taxes

4.2

10.3

3.0

14.3

10.9

 

 

 

 

 

 

    Minority Interest

0.0

0.0

1.2

0.1

0.1

Net Income Before Extra. Items

4.2

10.3

4.2

14.3

11.0

Net Income

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

4.2

10.3

4.2

14.3

11.0

 

 

 

 

 

 

Basic Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Basic EPS Excluding ExtraOrdinary Items

0.02

0.05

0.02

0.07

0.05

Basic EPS Including ExtraOrdinary Item

0.02

0.05

0.02

0.07

0.05

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

4.2

10.3

4.2

14.3

11.0

Diluted Weighted Average Shares

196.6

192.3

185.5

209.0

204.2

Diluted EPS Excluding ExtraOrd Items

0.02

0.05

0.02

0.07

0.05

Diluted EPS Including ExtraOrd Items

0.02

0.05

0.02

0.07

0.05

DPS-Ordinary Shares

0.01

0.00

0.00

0.01

0.01

Gross Dividends - Common Stock

1.3

0.0

0.0

1.8

2.2

Normalized Income Before Taxes

5.7

11.5

4.1

17.9

12.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.0

1.4

0.3

3.3

2.0

Normalized Income After Taxes

4.7

10.1

3.8

14.6

10.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.7

10.1

4.9

14.7

11.0

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.05

0.03

0.07

0.05

Diluted Normalized EPS

0.02

0.05

0.03

0.07

0.05

Interest Expense

2.3

1.6

2.2

2.9

2.8

Depreciation

2.6

2.4

2.2

2.2

2.3

Amort of Acquisition Costs

-

-

-

-

0.0

Amort of Intangibles

0.0

0.1

0.1

0.2

0.1

Rental Expense

0.9

0.9

0.4

0.5

0.3

    Current Tax - Malaysian

2.1

2.6

3.8

3.2

2.3

    Current Tax - Foreign

0.6

1.2

-0.1

0.4

0.4

    Under Provision Malaysian income tax

0.0

0.0

-

-

-

    Under Provision Foreign tax

0.0

0.0

-

-

-

    Over / Under Provisions

-

-

0.9

0.1

-0.2

Current Tax - Total

2.7

3.8

4.7

3.7

2.5

    Deferred Tax

-1.8

-1.8

-3.2

-0.5

-0.4

    Underprovision

0.0

-0.5

-1.5

0.0

-

    Deferred Tax Benefits

-

-

-

-

-0.2

Deferred Tax - Total

-1.8

-2.3

-4.7

-0.5

-0.6

Income Tax - Total

0.9

1.4

-0.1

3.2

2.0

Employee Provident Fund - Pension

0.9

0.7

1.2

1.0

0.7

Total Pension Expense

0.9

0.7

1.2

1.0

0.7

 

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104473

3.118403

3.003047

3.020678

3.081933

 

 

 

 

 

 

    Revenue

111.0

122.1

109.3

129.8

95.8

Total Revenue

111.0

122.1

109.3

129.8

95.8

 

 

 

 

 

 

    Cost of Sales

102.5

111.5

98.5

116.4

86.0

    Other income

-0.7

0.0

-0.1

-0.5

-0.1

    Selling and distribution expenses

4.1

4.8

4.4

4.8

4.0

    Administrative expenses

3.2

3.3

3.1

4.9

3.7

    Share of results of associates

-

-

-

0.0

-

    Other Expenses

0.8

0.0

0.2

0.9

0.3

    Finance cost

0.6

0.6

0.6

0.7

0.6

Total Operating Expense

110.4

120.2

106.7

127.1

94.4

 

 

 

 

 

 

Net Income Before Taxes

0.5

1.8

2.6

2.6

1.4

 

 

 

 

 

 

Provision for Income Taxes

0.5

0.5

0.8

0.3

0.2

Net Income After Taxes

0.1

1.3

1.8

2.3

1.2

 

 

 

 

 

 

    Minority interest

0.0

-0.1

0.0

0.1

0.0

Net Income Before Extra. Items

0.0

1.3

1.8

2.4

1.2

Net Income

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Basic Weighted Average Shares

194.2

194.3

200.4

200.4

191.2

Basic EPS Excluding ExtraOrdinary Items

0.00

0.01

0.01

0.01

0.01

Basic EPS Including ExtraOrdinary Item

0.00

0.01

0.01

0.01

0.01

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

0.0

1.3

1.8

2.4

1.2

Diluted Weighted Average Shares

194.2

194.3

200.4

200.4

191.2

Diluted EPS Excluding ExtraOrd Items

0.00

0.01

0.01

0.01

0.01

Diluted EPS Including ExtraOrd Items

0.00

0.01

0.01

0.01

0.01

DPS-Ordinary Shares

0.00

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.3

0.0

0.0

0.0

Normalized Income Before Taxes

0.5

1.8

2.6

2.6

1.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.5

0.5

0.8

0.3

0.2

Normalized Income After Taxes

0.1

1.3

1.8

2.3

1.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

0.0

1.3

1.8

2.4

1.2

 

 

 

 

 

 

Basic Normalized EPS

0.00

0.01

0.01

0.01

0.01

Diluted Normalized EPS

0.00

0.01

0.01

0.01

0.01

Interest Expense

0.6

0.6

0.6

0.7

0.6

Depreciation, Supplemental

0.5

-

-

-

-

    Current Tax-Malaysian

-

0.7

0.7

0.1

0.5

    Current Tax-Foreign

-

0.2

0.2

0.2

0.2

Current Tax - Total

-

0.9

0.9

0.3

0.6

    Deferred Tax

-

-0.4

-0.1

0.0

-0.4

Deferred Tax - Total

-

-0.4

-0.1

0.0

-0.4

    Under/Over Provision

-

0.0

0.0

0.0

0.0

Income Tax - Total

-

0.5

0.8

0.3

0.2

 

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.0105

3.2615

3.4945

3.24

3.3985

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Goods

33.2

26.8

19.6

32.6

26.6

    Work in Progress

1.7

1.4

1.3

1.5

1.5

    Raw Materials

9.6

6.7

4.1

6.9

5.4

    Stock in Transit

2.3

0.1

0.8

0.0

0.0

    Trade Debtors

71.6

55.0

45.3

85.1

73.7

    Bad Debt Prov.

-2.1

-1.4

-0.6

-0.5

-0.4

    Other Debtors

1.8

1.9

1.3

1.0

0.6

    ST Deposits

1.1

0.1

0.1

0.1

0.1

    Prepayments

1.8

0.9

0.4

0.3

0.4

    Investment securities

0.2

0.4

0.2

0.4

0.4

    Tax Recoverable

1.5

0.5

1.5

2.7

1.4

    Owed by Group

0.0

0.0

0.0

0.1

0.1

    Derivative assets

0.0

0.0

-

-

-

    ST Deposits/Bank

6.0

4.7

9.7

7.7

5.7

    Cash & Bank Balances

14.3

15.0

9.7

13.5

10.6

Total Current Assets

142.9

112.1

93.4

151.3

126.1

 

 

 

 

 

 

    Prepaid Lease Payments

-

-

5.3

5.8

5.6

    Freehold Land

0.0

0.0

0.1

0.1

0.1

    Buildings

0.0

0.0

0.1

0.1

0.1

    Leasehold land

9.1

8.4

-

-

-

    Leasehold Build.

7.4

6.8

6.3

6.8

6.4

    Plant/Machinery

43.1

40.2

37.8

38.7

35.8

    Fixt./Fittings

0.5

0.4

0.4

0.4

0.4

    Office Equipment

2.9

2.6

1.6

1.7

1.2

    Motor Vehicles

1.9

1.4

1.2

1.5

1.3

    Capital WIP

0.0

0.0

1.5

2.6

1.1

    Depreciation

-42.8

-37.2

-31.8

-32.8

-29.3

    Quoted Investments

-

-

0.0

1.2

1.1

    Investments-Associates

-

-

0.0

0.3

0.2

    Available for sale investments

1.2

1.1

1.0

1.1

1.1

    Intangibles

0.0

0.0

0.1

0.1

0.2

    Goodwill

28.8

27.7

26.7

27.3

26.9

    Deferred Tax

9.9

7.5

4.7

0.3

0.4

Total Assets

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    Trade Creditors

45.0

27.0

25.4

54.5

47.8

    Other creditors and accrued expenses

5.1

5.0

5.4

3.0

4.1

    Accruals

4.8

4.9

5.0

2.6

1.1

    Amount owing to related companies

0.2

0.7

2.2

3.4

1.1

    Provision for warranties

0.3

0.0

-

-

-

    Trust Receipts

13.5

11.2

0.4

15.8

10.8

    Revolving credits

1.0

0.2

0.5

0.0

-

    Term Loan

6.3

5.8

4.3

4.4

3.9

    Bank Overdraft

0.1

0.0

0.1

0.1

0.0

    ST Loans/Secured

34.1

26.9

24.6

35.5

28.3

    ST Hire Purchase

0.0

0.0

0.0

0.0

0.0

    Taxation

0.3

1.0

0.7

1.2

0.5

Total Current Liabilities

110.8

82.8

68.5

120.6

97.7

 

 

 

 

 

 

    Long term borrowings

0.3

4.3

9.4

13.7

16.9

    Hire Purchase Creditors

0.2

0.0

0.0

0.0

0.1

Total Long Term Debt

0.5

4.3

9.4

13.7

17.0

 

 

 

 

 

 

    Minority Int.

2.0

1.2

1.3

2.6

1.4

    Deferred Tax

0.5

0.5

0.5

0.9

1.4

    Retirement Ben.

1.2

1.1

1.1

1.4

1.3

Total Liabilities

114.9

89.9

80.8

139.2

118.7

 

 

 

 

 

 

    Share Capital

64.6

59.6

55.6

60.0

57.2

    Share Premium

0.3

0.2

0.2

0.2

0.2

    Translation Adj.

-6.3

-3.7

-1.5

-4.6

-3.1

    Retained Profit

31.5

27.6

17.0

19.5

5.6

    Treasury Shares

0.0

-2.6

-3.7

-7.7

0.0

Total Equity

90.0

81.2

67.6

67.4

59.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

204.9

171.1

148.4

206.6

178.7

 

 

 

 

 

 

    S/O-Ordinary Shares

200.4

194.3

191.1

194.7

213.9

Total Common Shares Outstanding

200.4

194.3

191.1

194.7

213.9

T/S-Ordinary Shares

0.0

6.1

9.3

19.2

0.0

Intangible Amortization

-

-

-

-

0.1

Goodwill Amortization

-

-

-

-

0.0

Number of Common Shareholders

-

14,093

14,175

5,632

6,374

Long Term Debt-Within 1 Year

55.0

44.2

30.0

55.9

43.0

Long Term Debt-Within 1-2 Years

0.3

4.0

5.4

4.5

4.3

Long Term Debt-Between 2 to 5 Years

0.2

0.4

4.0

9.2

12.7

Long Term Debt - Remaining Maturities

0.0

0.0

-

-

-

Total Long Term Debt, Supplemental

55.5

48.5

39.3

69.6

60.0

Finance Lease-Within 1 Year

0.0

0.0

0.0

0.0

0.0

Finance Lease-Between 1 to 2 Years

0.0

0.0

0.0

0.0

0.0

Finance Lease-Between 2 to 5 Years

0.1

0.0

0.0

0.0

0.0

Finance Lease-After 5 Years

0.0

0.0

-

-

-

Total Capital Leases

0.2

0.0

0.0

0.1

0.1

Operating Lease Due within 1Year

0.8

0.7

-

-

-

Operating Lease Due within 1-2 Year

0.5

0.9

-

-

-

Operating Lease Due within 2-3 Year

0.3

0.4

-

-

-

Operating Lease Due after 5 Years

1.0

1.3

-

-

-

Total Operating Leases

2.7

3.3

-

-

-

 

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Reclassified Normal 
31-Aug-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate

3.013616

3.1785

2.983

3.0105

3.0505

 

 

 

 

 

 

    Inventories

36.1

39.0

50.1

46.8

39.9

    Trade Debtors

70.5

71.4

69.2

69.5

58.1

    Other Debtors

3.8

4.0

3.8

4.7

3.4

    Marketable Securities

0.1

0.1

0.1

0.2

0.1

    Tax Recoverable

1.6

1.5

1.5

1.5

1.3

    Owed Related

0.0

0.0

0.0

0.0

0.0

    Derivative Assets

0.0

0.0

0.0

0.0

0.0

    ST Deposits

3.2

4.2

3.5

6.0

4.7

    Cash/Bank

16.3

11.2

12.9

14.3

13.2

Total Current Assets

131.7

131.4

141.1

142.9

120.9

 

 

 

 

 

 

    Property/Plant

23.3

22.7

24.6

22.1

23.3

    Development Exp.

0.0

0.0

0.0

0.0

0.0

    Goodwill

28.7

28.3

28.9

28.8

28.7

    Available for sale investments

0.0

1.1

1.2

1.2

1.2

    Deferred tax assets

11.0

9.8

10.1

9.9

9.8

Total Assets

194.7

193.3

206.0

204.9

183.8

 

 

 

 

 

 

    Trade Creditors

35.8

37.3

47.0

45.3

30.8

    Other Creditors & Accrued Expenses

10.2

13.1

11.4

10.2

8.1

    Owed Related

0.0

0.0

0.0

0.0

0.2

    ST Borrowings

52.0

49.2

52.3

55.0

53.5

    Prov. Tax

1.0

0.5

0.4

0.3

1.0

    Derivative liabilities

-

0.1

-

0.0

-

Total Current Liabilities

98.9

100.2

111.1

110.8

93.5

 

 

 

 

 

 

    Long term borrowings

1.0

1.4

0.3

0.5

0.6

Total Long Term Debt

1.0

1.4

0.3

0.5

0.6

 

 

 

 

 

 

    Minority Interests

2.1

2.0

2.0

2.0

1.4

    Deferred Tax

0.5

0.5

0.5

0.5

0.5

    Retirement Ben.

1.1

1.1

1.2

1.2

1.1

Total Liabilities

103.6

105.0

115.1

114.9

97.1

 

 

 

 

 

 

    Share Capital

64.5

61.1

65.1

64.6

63.7

    Share Premium

-

0.3

0.3

0.3

0.3

    Tran. Adj.

-

-4.6

-6.7

-6.3

-5.9

    Retained Profits

33.3

31.5

32.2

31.5

28.7

    Treasury

0.0

0.0

0.0

0.0

0.0

    Reserves

-6.6

-

-

-

-

Total Equity

91.1

88.3

91.0

90.0

86.7

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

194.7

193.3

206.0

204.9

183.8

 

 

 

 

 

 

    S/O-Ordinary Shares

194.2

194.2

200.4

200.4

188.4

Total Common Shares Outstanding

194.2

194.2

200.4

200.4

188.4

T/S-Ordinary Shares

0.1

0.1

0.0

0.0

0.0

 

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-May-2011

31-May-2010

31-May-2009

31-May-2008

31-May-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-May-2011

Reclassified Normal 
31-May-2011

Updated Normal 
31-May-2009

Updated Normal 
31-May-2008

Reclassified Normal 
31-May-2008

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.104038

3.405324

3.493933

3.330512

3.575124

Auditor

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

5.2

11.8

3.0

17.5

12.9

    Depreciation

2.6

2.4

2.2

2.2

2.3

    Interest Expense

2.3

1.6

2.3

2.9

2.8

    Amortisation of intangible assets

0.0

0.1

-

-

-

    Impairment of Investments

0.0

-0.1

0.8

0.1

-0.1

    Fair value gain on investments

0.0

0.0

-

-

-

    Fair value gain on derivatives

0.0

0.0

-

-

-

    Amortisation of Prepaid Lease Payment

-

-

0.1

0.1

0.1

    Amort. Dev. Exp.

-

-

0.0

0.0

0.0

    Amortization of Rights

-

-

0.1

0.1

0.1

    Impairment-Fixed Assets

0.6

0.0

-

-

-

    Bad Debt w/o

0.0

0.0

0.0

-0.2

0.0

    Write Down of Inventories

0.6

0.5

0.4

0.4

0.1

    Impairment loss on trade and other recei

0.4

0.7

0.2

0.3

-0.7

    Unreal. Foreign Exch

0.6

0.7

-0.5

0.7

0.2

    Provision for warranties

0.3

0.0

-

-

-

    Prov. Retirement Ben

0.1

0.1

0.0

0.1

0.1

    Dividend Income

0.0

0.0

0.0

-1.9

-2.2

    Interest Income

-0.1

-0.2

-0.3

-0.5

-0.5

    Disposal Assets

-0.1

-0.1

-0.1

0.0

0.0

    Deemed Disposal of Interest in Subsid.

-

-

-

0.0

-0.1

    Gain on winding up of a subsidiary

-0.1

0.0

-

-

-

    Disposal of Investment

-0.3

0.0

-

0.0

0.0

    Share Associates

-

-

0.2

0.0

0.0

    Debtors

-13.0

-8.2

36.2

-9.6

-7.8

    Stocks

-11.1

-8.8

13.5

-7.2

-2.6

    Creditors

10.0

0.1

-24.9

5.0

5.4

    Intercompany

4.4

-2.3

0.8

3.3

-0.2

    Income Taxes Paid

-4.2

-2.3

-4.1

-3.8

-3.0

    Retirement Ben. Paid

-0.1

-0.2

-0.2

-0.1

-0.1

Cash from Operating Activities

-2.0

-4.3

29.6

9.2

6.7

 

 

 

 

 

 

    Disposal of Fixed Assets

0.1

0.4

0.1

0.0

0.1

    Capital Expenditures

-0.8

-1.5

-1.7

-3.6

-1.7

    Additional interests in subsidiaries

0.0

-0.5

0.0

0.0

-0.2

    Acquisition of Investment

-

-

-

0.0

-1.1

    Acquisition of Marketable Secs.

-0.1

0.0

0.0

0.0

-

    Shortfall in profit guarantee

0.0

0.0

-

-

-

    Disposal of Marketable Secs.

0.7

0.0

1.1

0.0

0.2

    Disposal Subsidiary

-

-

-

0.0

0.0

    Acquisition of Subsidiary

-0.1

0.0

0.0

1.3

-19.8

    Transaction costs paid by minority int.

-0.1

0.0

0.0

0.0

-

    Share Issue Expenses

-

-

-

0.0

-0.1

    Interest Received

0.1

0.2

0.3

0.5

0.5

    Dividend-Unquoted Shares

-

-

0.0

1.3

1.6

    Dividend-Quoted Shares

-

-

0.0

0.0

0.0

    capital in a subsidiary

0.9

0.0

-

-

-

    Dividend-Marketable Secs.

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

0.9

-1.4

-0.2

-0.4

-20.3

 

 

 

 

 

 

    Dividend/Shareholder

-

-

-1.7

-1.1

-2.6

    Dividends paid to minority shareholders

-0.1

-0.1

0.0

-

-

    Issue of Shares

-

-

-

0.0

5.0

    Repay Hire Purch.

0.0

0.0

0.0

0.0

0.0

    Drawdown of term loan and advances

41.3

18.0

20.0

55.9

78.1

    Repayment of term loan and advances

-38.2

-11.6

-46.4

-49.0

-57.3

    Interest Paid

-2.3

-1.6

-2.3

-2.9

-2.8

    Purchase of Companys own Shares

-

-

-0.1

-7.4

0.0

Cash from Financing Activities

0.7

4.7

-30.5

-4.5

20.4

 

 

 

 

 

 

Foreign Exchange Effects

-1.2

-0.5

1.5

-0.8

-1.2

Net Change in Cash

-1.6

-1.4

0.4

3.4

5.6

 

 

 

 

 

 

Cash and Cash Equivalents at beginning o

21.2

20.3

18.8

17.1

9.9

Net Cash - Ending Balance

19.6

18.8

19.2

20.5

15.5

    Cash Interest Paid

2.3

1.6

2.3

2.9

2.8

    Cash Taxes Paid

4.2

2.3

4.1

3.8

3.0

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

9 Months

6 Months

3 Months

12 Months

9 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

MYR

MYR

MYR

MYR

MYR

Exchange Rate (Period Average)

3.07485

3.061334

3.003047

3.104038

3.133911

 

 

 

 

 

 

Income Before Tax

5.0

4.4

2.6

5.2

2.6

    Retirement benefits paid

-0.1

-

-

-

-0.1

    Income tax paid

-2.3

-

-

-

-3.0

    Group companies

0.6

-

-

-

4.7

    Payables

-9.9

-

-

-

-6.0

    Inventories

9.8

-

-

-

-4.0

    Receivables

-0.5

-

-

-

-0.8

    Non Cash Items

4.4

2.4

1.3

2.6

3.8

    Working Capital

-

-2.8

0.3

-9.8

-

Cash from Operating Activities

6.8

4.0

4.2

-2.0

-2.9

 

 

 

 

 

 

    Acquisition of Subsidiary

-

-

-

0.0

0.0

    Acquisition of investment securities

0.0

-

-

-

-0.1

    Proceeds from disposal of unquoted/quote

0.6

-

-

-

0.7

    Purchase of property, plant and equipmen

-3.4

-

-

-

-1.3

    Proceeds from disposal of property, plan

0.2

-

-

-

0.1

    Dividend received

0.6

-

-

-

0.0

    Interest received

0.1

-

-

-

0.1

    Additional interests in subsidiaries

0.0

-

-

-0.1

-0.1

    Other Investments

0.0

-3.1

-3.0

1.0

0.0

Cash from Investing Activities

-1.9

-3.1

-3.0

0.9

-0.6

 

 

 

 

 

 

    Dividends Paid

-1.4

-1.4

-1.4

-

0.0

    Dividends paid to minority shareholders

0.0

-

-

-0.1

0.0

    Term Loans

-

-2.7

-3.1

3.2

-

    Repayment of term loans and advances

-24.6

-

-

-

-16.3

    Drawdown of term loans and advances

22.8

-

-

-

18.6

    Repay Hire Purch.

-0.2

-

-

0.0

0.0

    Purchase of Co. own Shares

0.0

0.0

-

-

0.0

    Interest Paid

-1.8

-1.2

-0.6

-2.3

-1.6

Cash from Financing Activities

-5.2

-5.3

-5.1

0.7

0.7

 

 

 

 

 

 

Foreign Exchange Effects

-0.7

0.7

-0.1

-1.2

-0.8

Net Change in Cash

-0.9

-3.7

-4.0

-1.6

-3.6

 

 

 

 

 

 

Net Cash - Beginning Balance

20.0

19.6

20.3

21.2

21.0

Net Cash - Ending Balance

19.1

15.9

16.3

19.6

17.4

    Cash Interest Paid

-

1.2

0.6

2.3

1.6

    Cash Taxes Paid

-

-

-

4.2

-

 

 

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual  

           

               

 

External Revenue   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Malaysia

162.5

41.1 %

138.6

38.6 %

133.3

34.1 %

156.8

30 %

154.0

36.6 %

Singapore

100.5

25.4 %

123.2

34.3 %

159.3

40.7 %

221.2

42.3 %

157.4

37.5 %

Indonesia

36.5

9.2 %

26.6

7.4 %

17.3

4.4 %

12.0

2.3 %

12.3

2.9 %

Hong Kong

22.0

5.6 %

0.8

0.2 %

1.6

0.4 %

2.8

0.5 %

3.9

0.9 %

Philippines

14.2

3.6 %

14.9

4.2 %

25.2

6.5 %

33.4

6.4 %

20.2

4.8 %

Australia

7.6

1.9 %

5.1

1.4 %

10.8

2.8 %

12.3

2.4 %

8.4

2 %

Srilanka

6.6

1.7 %

7.7

2.1 %

7.2

1.8 %

9.4

1.8 %

-

-

New Zealand

5.7

1.4 %

4.1

1.1 %

1.2

0.3 %

0.9

0.2 %

-

-

Bangladesh

4.2

1.1 %

3.2

0.9 %

3.4

0.9 %

2.0

0.4 %

-

-

China

3.7

0.9 %

3.6

1 %

3.8

1 %

24.6

4.7 %

16.1

3.8 %

India

3.3

0.8 %

0.6

0.2 %

0.5

0.1 %

0.7

0.1 %

-

-

Middle East

3.2

0.8 %

1.6

0.5 %

1.1

0.3 %

1.9

0.4 %

1.5

0.4 %

Africa

2.2

0.5 %

2.2

0.6 %

2.3

0.6 %

2.0

0.4 %

1.7

0.4 %

Thailand

1.9

0.5 %

2.0

0.5 %

2.2

0.6 %

5.2

1 %

15.7

3.7 %

Pakistan

1.7

0.4 %

1.5

0.4 %

1.1

0.3 %

1.3

0.2 %

-

-

Japan

0.8

0.2 %

4.4

1.2 %

3.5

0.9 %

1.1

0.2 %

2.2

0.5 %

Taiwan

0.2

0 %

0.3

0.1 %

0.1

0 %

9.6

1.8 %

0.6

0.1 %

South America

0.1

0 %

0.1

0 %

0.3

0.1 %

-

-

-

-

Europe

0.1

0 %

0.2

0 %

0.0

0 %

-

-

0.3

0.1 %

United States

0.0

0 %

0.0

0 %

0.1

0 %

-

-

-

-

Brunei

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Korea

0.0

0 %

0.0

0 %

0.0

0 %

7.4

1.4 %

-

-

Cambodia

0.0

0 %

0.1

0 %

0.0

0 %

-

-

-

-

Mynamar

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Other Asian Countries

-

-

-

-

0.6

0.2 %

0.7

0.1 %

-

-

Vietnam

17.0

4.3 %

17.5

4.9 %

16.1

4.1 %

16.8

3.2 %

-

-

Mauritius

0.8

0.2 %

0.4

0.1 %

0.2

0.1 %

-

-

-

-

Nepal

0.4

0.1 %

0.3

0.1 %

0.4

0.1 %

-

-

-

-

Other Countries

-

-

-

-

0.4

0.1 %

0.8

0.2 %

25.9

6.2 %

Segment Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Consolidated Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

Total Revenue   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Malaysia

162.5

41.1 %

138.6

38.6 %

133.3

34.1 %

156.8

30 %

154.0

36.6 %

Singapore

100.5

25.4 %

123.2

34.3 %

159.3

40.7 %

221.2

42.3 %

157.4

37.5 %

Indonesia

36.5

9.2 %

26.6

7.4 %

17.3

4.4 %

12.0

2.3 %

12.3

2.9 %

Hong Kong

22.0

5.6 %

0.8

0.2 %

1.6

0.4 %

2.8

0.5 %

3.9

0.9 %

Philippines

14.2

3.6 %

14.9

4.2 %

25.2

6.5 %

33.4

6.4 %

20.2

4.8 %

Australia

7.6

1.9 %

5.1

1.4 %

10.8

2.8 %

12.3

2.4 %

8.4

2 %

Srilanka

6.6

1.7 %

7.7

2.1 %

7.2

1.8 %

9.4

1.8 %

-

-

New Zealand

5.7

1.4 %

4.1

1.1 %

1.2

0.3 %

0.9

0.2 %

-

-

Bangladesh

4.2

1.1 %

3.2

0.9 %

3.4

0.9 %

2.0

0.4 %

-

-

China

3.7

0.9 %

3.6

1 %

3.8

1 %

24.6

4.7 %

16.1

3.8 %

India

3.3

0.8 %

0.6

0.2 %

0.5

0.1 %

0.7

0.1 %

-

-

Middle East

3.2

0.8 %

1.6

0.5 %

1.1

0.3 %

1.9

0.4 %

1.5

0.4 %

Africa

2.2

0.5 %

2.2

0.6 %

2.3

0.6 %

2.0

0.4 %

1.7

0.4 %

Thailand

1.9

0.5 %

2.0

0.5 %

2.2

0.6 %

5.2

1 %

15.7

3.7 %

Pakistan

1.7

0.4 %

1.5

0.4 %

1.1

0.3 %

1.3

0.2 %

-

-

Japan

0.8

0.2 %

4.4

1.2 %

3.5

0.9 %

1.1

0.2 %

2.2

0.5 %

Taiwan

0.2

0 %

0.3

0.1 %

0.1

0 %

9.6

1.8 %

0.6

0.1 %

South America

0.1

0 %

0.1

0 %

0.3

0.1 %

-

-

-

-

Europe

0.1

0 %

0.2

0 %

0.0

0 %

-

-

0.3

0.1 %

United States

0.0

0 %

0.0

0 %

0.1

0 %

-

-

-

-

Brunei

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Korea

0.0

0 %

0.0

0 %

0.0

0 %

7.4

1.4 %

-

-

Cambodia

0.0

0 %

0.1

0 %

0.0

0 %

-

-

-

-

Mynamar

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Other Asian Countries

-

-

-

-

0.6

0.2 %

0.7

0.1 %

-

-

Vietnam

17.0

4.3 %

17.5

4.9 %

16.1

4.1 %

16.8

3.2 %

-

-

Mauritius

0.8

0.2 %

0.4

0.1 %

0.2

0.1 %

-

-

-

-

Nepal

0.4

0.1 %

0.3

0.1 %

0.4

0.1 %

-

-

-

-

Other Countries

-

-

-

-

0.4

0.1 %

0.8

0.2 %

25.9

6.2 %

Segment Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Consolidated Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

 

Total Assets   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Malaysia

101.1

57.4 %

80.2

55.9 %

52.0

51.2 %

78.1

49.2 %

80.5

56.6 %

Singapore

49.6

28.2 %

44.5

31 %

38.7

38.1 %

72.4

45.7 %

56.5

39.7 %

Indonesia

18.2

10.3 %

13.0

9.1 %

7.3

7.2 %

6.1

3.8 %

5.4

3.8 %

Hong Kong

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Philippines

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Australia

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Srilanka

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

New Zealand

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Bangladesh

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

China

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

India

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Middle East

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Africa

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Thailand

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Pakistan

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Japan

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Taiwan

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

South America

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Europe

0.0

0 %

0.0

0 %

0.0

0 %

-

-

0.0

0 %

United States

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Brunei

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Korea

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Cambodia

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Mynamar

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Other Asian Countries

-

-

-

-

0.0

0 %

0.0

0 %

-

-

Vietnam

7.2

4.1 %

5.7

4 %

3.5

3.5 %

2.0

1.3 %

-

-

Mauritius

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Nepal

0.0

0 %

0.0

0 %

0.0

0 %

-

-

-

-

Other Countries

-

-

-

-

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

176.1

100 %

143.4

100 %

101.6

100 %

158.7

100 %

142.4

100 %

Consolidated Total

176.1

100 %

143.4

100 %

101.6

100 %

158.7

100 %

142.4

100 %

Exchange Rate: MYR to USD

3.010500

 

3.261500

 

3.494500

 

3.240000

 

3.398500

 

Purchase of Fixed Assets   USD (mil)

 

31-May-10

31-May-09

31-May-08

31-May-07

Malaysia

1.4

94.8 %

0.7

42.4 %

2.5

69.6 %

1.6

89.8 %

Singapore

0.0

0.1 %

0.0

0.3 %

0.0

0.7 %

0.0

2.3 %

Indonesia

0.0

3.1 %

0.1

3.9 %

0.1

2.1 %

0.1

7.9 %

Hong Kong

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Philippines

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Australia

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Srilanka

0.0

0 %

0.0

0 %

0.0

0 %

-

-

New Zealand

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Bangladesh

0.0

0 %

0.0

0 %

0.0

0 %

-

-

China

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

India

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Middle East

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Africa

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Thailand

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Pakistan

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Japan

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Taiwan

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

South America

0.0

0 %

0.0

0 %

-

-

-

-

Europe

0.0

0 %

0.0

0 %

-

-

0.0

0 %

United States

0.0

0 %

0.0

0 %

-

-

-

-

Brunei

0.0

0 %

0.0

0 %

-

-

-

-

Korea

0.0

0 %

0.0

0 %

0.0

0 %

-

-

Cambodia

0.0

0 %

0.0

0 %

-

-

-

-

Mynamar

0.0

0 %

0.0

0 %

-

-

-

-

Other Asian Countries

-

-

0.0

0 %

0.0

0 %

-

-

Vietnam

0.0

2 %

0.9

53.3 %

1.0

27.6 %

-

-

Mauritius

0.0

0 %

0.0

0 %

-

-

-

-

Nepal

0.0

0 %

0.0

0 %

-

-

-

-

Other Countries

-

-

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

1.5

100 %

1.8

100 %

3.6

100 %

1.8

100 %

Consolidated Total

1.5

100 %

1.8

100 %

3.6

100 %

1.8

100 %

Exchange Rate: MYR to USD

3.405324

 

3.493933

 

3.330512

 

3.575124

 

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual  

           

           

 

External Revenue   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

43.2

10.9 %

36.0

10 %

31.9

8.2 %

40.2

7.7 %

34.4

8.2 %

Industrial Chemicals

352.0

89.1 %

322.9

90 %

357.9

91.5 %

480.3

91.8 %

383.3

91.2 %

Building Products

-

-

0.0

0 %

1.2

0.3 %

2.6

0.5 %

2.6

0.6 %

Others

0.0

0 %

0.0

0 %

-

-

-

-

-

-

Segment Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

Intersegment Revenue   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

0.0

2.6 %

0.0

1.3 %

0.0

1.7 %

0.0

2.8 %

0.0

0.4 %

Industrial Chemicals

0.1

97.4 %

0.1

98.7 %

0.1

98.3 %

0.2

97.2 %

0.2

99.6 %

Building Products

-

-

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Others

0.0

0 %

0.0

0 %

-

-

-

-

-

-

Segment Total

0.1

100 %

0.1

100 %

0.1

100 %

0.2

100 %

0.2

100 %

Eliminations

-0.1

-100 %

-0.1

-100 %

-0.1

-100 %

-0.2

-100 %

-0.2

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

 

Total Revenue   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

43.2

10.9 %

36.0

10 %

31.9

8.2 %

40.2

7.7 %

34.4

8.2 %

Industrial Chemicals

352.2

89.1 %

323.0

90 %

358.0

91.5 %

480.5

91.8 %

383.5

91.2 %

Building Products

-

-

0.0

0 %

1.2

0.3 %

2.6

0.5 %

2.6

0.6 %

Others

0.0

0 %

0.0

0 %

-

-

-

-

-

-

Segment Total

395.4

100 %

359.0

100 %

391.1

100 %

523.3

100 %

420.5

100 %

Eliminations

-0.1

0 %

-0.1

0 %

-0.1

0 %

-0.2

0 %

-0.2

0 %

Consolidated Total

395.2

100 %

358.9

100 %

391.0

100 %

523.1

100 %

420.3

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

Other Unusual Expense (Income)   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

Polymer

-0.6

99.9 %

0.0

0 %

0.0

0 %

0.0

0 %

Industrial Chemicals

0.0

0.1 %

-0.1

100 %

0.1

100 %

0.1

100 %

Building Products

-

-

0.0

0 %

0.0

0 %

0.0

0 %

Others

0.0

0 %

0.0

0 %

-

-

-

-

Segment Total

-0.6

100 %

-0.1

100 %

0.1

100 %

0.1

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Unallocated

0.0

2.3 %

-0.6

588.3 %

0.7

658.8 %

-

-

Consolidated Total

-0.7

102.3 %

-0.7

688.3 %

0.8

758.8 %

0.1

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

 

Depreciation   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

1.8

70.4 %

1.7

70.2 %

1.7

70.9 %

1.8

75.6 %

2.0

79.3 %

Industrial Chemicals

0.7

27.8 %

0.7

29.2 %

0.7

28.1 %

0.5

23.2 %

0.5

19.8 %

Building Products

-

-

0.0

0 %

0.0

1 %

0.0

1.1 %

0.0

0.8 %

Others

0.0

1.8 %

0.0

0.6 %

-

-

-

-

-

-

Segment Total

2.6

100 %

2.5

100 %

2.3

100 %

2.3

100 %

2.5

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Unallocated

-

-

0.0

0.6 %

0.0

0.3 %

0.0

0.3 %

0.0

0.3 %

Consolidated Total

2.6

100 %

2.5

100 %

2.3

100.3 %

2.3

100.3 %

2.5

100.3 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

Operating Income/Loss   USD (mil)

 

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

4.9

29.3 %

1.3

13.2 %

1.8

8 %

2.0

13.7 %

Industrial Chemicals

11.9

71.2 %

8.6

90.8 %

20.3

91.5 %

12.6

85.3 %

Building Products

-0.1

-0.5 %

-0.4

-3.9 %

0.1

0.5 %

0.2

1 %

Segment Total

16.7

100 %

9.5

100 %

22.2

100 %

14.7

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Unallocated

-3.3

-19.9 %

-4.0

-41.9 %

-1.9

-8.4 %

0.9

6.2 %

Consolidated Total

13.4

80.1 %

5.5

58.1 %

20.3

91.6 %

15.7

106.2 %

Exchange Rate: MYR to USD

3.405324

 

3.493933

 

3.330512

 

3.575124

 

 

Operating Margin (%)  

 

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

13.6

-

3.9

-

4.4

-

5.8

-

Industrial Chemicals

3.7

-

2.4

-

4.2

-

3.3

-

Building Products

-

-

-31.2

-

4.0

-

5.9

-

Segment Total

4.6

-

2.4

-

4.2

-

3.5

-

Eliminations

0.0

-

0.0

-

0.0

-

0.0

-

Consolidated Total

3.7

-

1.4

-

3.9

-

3.7

-

Interest Income - Non-Operating   USD (mil)

 

31-May-11

31-May-10

Polymer

0.0

32.5 %

0.0

18.6 %

Industrial Chemicals

0.1

57.3 %

0.2

77.9 %

Others

0.0

10.1 %

0.0

3.5 %

Segment Total

0.1

100 %

0.2

100 %

Eliminations

0.0

0 %

0.0

0 %

Consolidated Total

0.1

100 %

0.2

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

 

Income Before Tax   USD (mil)

 

31-May-11

31-May-10

Polymer

3.9

75.6 %

4.9

41.9 %

Industrial Chemicals

5.6

109.1 %

11.0

93.6 %

Others

-4.4

-84.7 %

-4.2

-35.5 %

Segment Total

5.2

100 %

11.8

100 %

Eliminations

0.0

0 %

0.0

0 %

Consolidated Total

5.2

100 %

11.8

100 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

Pre-Tax Margin (%)  

 

31-May-11

31-May-10

Polymer

9.0

-

13.7

-

Industrial Chemicals

1.6

-

3.4

-

Segment Total

1.3

-

3.3

-

Eliminations

0.0

-

0.0

-

Consolidated Total

1.3

-

3.3

-

 

Total Assets   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

37.5

17.4 %

33.5

18.4 %

31.5

25.9 %

38.6

20.7 %

33.9

22.5 %

Industrial Chemicals

155.4

72.1 %

127.6

70.2 %

87.6

72 %

143.9

77.4 %

113.6

75.3 %

Building Products

-

-

2.3

1.2 %

2.7

2.2 %

3.5

1.9 %

3.3

2.2 %

Others

22.5

10.5 %

20.7

11.4 %

-

-

-

-

-

-

Segment Total

215.4

100 %

181.8

100 %

121.7

100 %

186.0

100 %

150.8

100 %

Eliminations

-10.4

-4.8 %

-10.7

-5.9 %

-20.2

-16.6 %

-27.3

-14.7 %

-8.4

-5.6 %

Unallocated

-

-

46.2

25.4 %

46.8

38.5 %

47.9

25.7 %

36.3

24 %

Consolidated Total

204.9

95.2 %

171.1

94.1 %

148.4

121.9 %

206.6

111 %

178.7

118.4 %

Exchange Rate: MYR to USD

3.010500

 

3.261500

 

3.494500

 

3.240000

 

3.398500

 

Operating Return on Assets (%)  

 

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

15.3

-

4.0

-

4.8

-

6.2

-

Industrial Chemicals

12.4

-

9.9

-

14.5

-

11.6

-

Building Products

-3.9

-

-14.1

-

3.1

-

4.9

-

Segment Total

12.8

-

7.8

-

12.3

-

10.3

-

Eliminations

0.0

-

0.0

-

0.0

-

0.0

-

Unallocated

-7.5

-

-8.5

-

-4.0

-

2.7

-

Consolidated Total

8.1

-

3.7

-

10.1

-

9.2

-

 

Total Liabilities   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

11.6

9.4 %

9.4

9.4 %

9.1

18.9 %

15.5

12.7 %

11.1

11.7 %

Industrial Chemicals

93.4

75.7 %

67.1

67.5 %

39.0

80.7 %

106.4

86.9 %

83.8

87.9 %

Building Products

-

-

0.1

0.1 %

0.2

0.4 %

0.5

0.4 %

0.4

0.5 %

Others

18.4

14.9 %

22.9

23 %

-

-

-

-

-

-

Segment Total

123.4

100 %

99.3

100 %

48.3

100 %

122.5

100 %

95.4

100 %

Eliminations

-10.4

-8.5 %

-10.7

-10.8 %

-17.8

-36.8 %

-27.3

-22.3 %

-8.4

-8.9 %

Unallocated

-

-

56.5

56.8 %

49.0

101.5 %

41.4

33.8 %

30.4

31.9 %

Consolidated Total

112.9

91.5 %

88.7

89.2 %

79.5

164.7 %

136.6

111.5 %

117.4

123 %

Exchange Rate: MYR to USD

3.010500

 

3.261500

 

3.494500

 

3.240000

 

3.398500

 

Purchase of Fixed Assets   USD (mil)

 

31-May-11

31-May-10

31-May-09

31-May-08

31-May-07

Polymer

0.4

43.9 %

1.2

79.9 %

0.6

34.8 %

2.4

66.2 %

1.5

81.2 %

Industrial Chemicals

0.2

24.7 %

0.1

5.2 %

1.1

65.2 %

1.2

33.2 %

0.3

16.1 %

Building Products

-

-

0.0

0 %

0.0

0 %

0.0

0.6 %

0.0

2.7 %

Others

0.3

31.4 %

0.2

14.8 %

-

-

-

-

-

-

Segment Total

0.8

100 %

1.5

100 %

1.8

100 %

3.6

100 %

1.8

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Unallocated

-

-

-

-

-

-

0.0

0.1 %

0.0

0.2 %

Consolidated Total

0.8

100 %

1.5

100 %

1.8

100 %

3.6

100.1 %

1.8

100.2 %

Exchange Rate: MYR to USD

3.104038

 

3.405324

 

3.493933

 

3.330512

 

3.575124

 

 

 

Business Segments

 

Financials in: As Reported (mil)

Interim   

         

 

External Revenue   USD (mil)

 

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

30-Nov-10

Polymer

11.6

9.5 %

11.9

10.8 %

11.6

8.9 %

10.8

11.2 %

10.8

13.2 %

Industrial Chemicals

110.5

90.5 %

97.5

89.2 %

118.2

91.1 %

85.1

88.8 %

71.0

86.8 %

Others

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

122.1

100 %

109.3

100 %

129.8

100 %

95.8

100 %

81.9

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

122.1

100 %

109.3

100 %

129.8

100 %

95.8

100 %

81.9

100 %

Exchange Rate: MYR to USD

3.118403

 

3.003047

 

3.020678

 

3.081933

 

3.107957

 

Intersegment Revenue   USD (mil)

 

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

30-Nov-10

Polymer

0.0

0 %

0.0

1.1 %

0.0

1.1 %

0.0

0 %

0.0

2.3 %

Industrial Chemicals

0.0

100 %

0.0

98.9 %

0.1

98.9 %

0.0

100 %

0.0

97.7 %

Others

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

0.0

100 %

0.0

100 %

0.1

100 %

0.0

100 %

0.0

100 %

Eliminations

0.0

-100 %

0.0

-100 %

-0.1

-100 %

0.0

-100 %

0.0

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: MYR to USD

3.118403

 

3.003047

 

3.020678

 

3.081933

 

3.107957

 

 

Total Revenue   USD (mil)

 

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

30-Nov-10

Polymer

11.6

9.5 %

11.9

10.8 %

11.6

8.9 %

10.8

11.2 %

10.8

13.2 %

Industrial Chemicals

110.5

90.5 %

97.5

89.2 %

118.3

91.1 %

85.1

88.8 %

71.1

86.8 %

Others

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

122.1

100 %

109.4

100 %

129.8

100 %

95.9

100 %

81.9

100 %

Eliminations

0.0

0 %

0.0

0 %

-0.1

0 %

0.0

0 %

0.0

0 %

Consolidated Total

122.1

100 %

109.3

100 %

129.8

100 %

95.8

100 %

81.9

100 %

Exchange Rate: MYR to USD

3.118403

 

3.003047

 

3.020678

 

3.081933

 

3.107957

 

Operating Income/Loss   USD (mil)

 

28-Feb-11

30-Nov-10

Polymer

1.1

30 %

1.2

38.8 %

Industrial Chemicals

2.6

70 %

2.0

61.4 %

Others

0.0

0 %

0.0

-0.2 %

Segment Total

3.7

100 %

3.2

100 %

Eliminations

0.0

0 %

0.0

0 %

Unallocated

-1.7

-46.6 %

-0.7

-21.6 %

Consolidated Total

2.0

53.4 %

2.5

78.4 %

Exchange Rate: MYR to USD

3.081933

 

3.107957

 

 

Operating Margin (%)  

 

28-Feb-11

30-Nov-10

Polymer

10.4

-

11.5

-

Industrial Chemicals

3.1

-

2.8

-

Segment Total

3.9

-

3.9

-

Eliminations

0.0

-

0.0

-

Consolidated Total

2.1

-

3.1

-

Income Before Tax   USD (mil)

 

30-Nov-11

31-Aug-11

30-Nov-10

Polymer

1.4

58.7 %

1.1

35.2 %

1.2

49.5 %

Industrial Chemicals

2.4

97.1 %

2.6

79.5 %

2.0

78.3 %

Others

-1.4

-55.8 %

-0.5

-14.7 %

-0.7

-27.8 %

Segment Total

2.4

100 %

3.2

100 %

2.5

100 %

Eliminations

0.0

0 %

0.0

0 %

0.0

0 %

Unallocated

-0.6

-24.6 %

-0.6

-19.2 %

-0.5

-21.2 %

Consolidated Total

1.8

75.4 %

2.6

80.8 %

2.0

78.8 %

Exchange Rate: MYR to USD

3.118403

 

3.003047

 

3.107957

 

 

Pre-Tax Margin (%)  

 

30-Nov-11

31-Aug-11

30-Nov-10

Polymer

12.4

-

9.6

-

11.5

-

Industrial Chemicals

2.1

-

2.6

-

2.8

-

Segment Total

2.0

-

2.9

-

3.1

-

Eliminations

0.0

-

0.0

-

0.0

-

Consolidated Total

1.5

-

2.4

-

2.4

-

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.52

UK Pound

1

Rs.85.29

Euro

1

Rs.68.86

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.