Final Results

Hidong Estate PLC
15 July 2002


Hidong Estate PLC

Preliminary Final Results
(Incorporated in England)

Balance Sheet as at 31st March, 2002
 
                                                             2002        2001
                                                              RM          RM

 
FIXED ASSETS
Tangible assets                                         6,490,959    6,519,147

CURRENT ASSETS
Stocks                                                    106,095       66,056
Debtors                                                    54,504      278,558
Cash at bank and in hand                                  298,728      378,969
Tax refundable                                             58,177       52,677
                                                          517,504      776,260

CREDITORS: amounts falling due within one year           (189,955)    (249,696)

NET CURRENT ASSETS                                        327,549      526,564
TOTAL ASSETS LESS CURRENT LIABILITIES                   6,818,508    7,045,711

PROVISION FOR LIABILITIES AND CHARGES                   (217,149)      (217,510)

NET ASSETS                                             6,601,359      6,828,201

CAPITAL AND RESERVES
Called up share capital                                1,067,846      1,067,846 
Revaluation reserve                                    4,948,548      4,948,548
Profit and loss account                                  584,965        811,807
 
TOTAL EQUITY SHAREHOLDERS' FUNDS                       6,601,359      6,828,201



Cash flow statement for the year 
ended 31st March, 2002
                                                           2002          2001 
                                                            RM            RM
 
NET CASH OUTFLOW FROM                                   (82,860)       (415,582)
OPERATING ACTIVITIES

RETURNS ON INVESTMENTS AND                                 
SERVICING OF FINANCE       
Interest received                                         6,139          19,471

TAXATION
Overseas tax paid                                        (5,500)        (45,533)

CAPITAL EXPENDITURE
Sale of fixed assets                                      3,600           -
Purchase of tangible fixed assets                        (1,620)         (4,600)
                                                          1,980          (4,600)

NET CASH OUTFLOW BEFORE
MANAGEMENT OF LIQUID RESOURCES                          (80,241)       (446,244)

MANAGEMENT OF LIQUID RESOURCES
Decrease in short term deposits                         120,000         479,000
INCREASE IN CASH                                         39,759          32,756

 
The financial information set out above does not constitute statutory accounts 
for the years ended 31st March 2002 or 2001 but is derived from those accounts. 
Statutory accounts for 2001 have been delivered to the Registrar of Companies, 
and those for 2002 will be delivered following the Company's annual general 
meeting. The auditors have reported on those accounts, their reports were 
unqualified and did not contain statements under section 237(2) or (3) of the 
Companies Act 1985.


Profit and loss account for the 
year ended 31st March, 2002

                                                         Continuing Operations

                                                           2002          2001
                                                            RM            RM

Turnover                                              1,019,111         951,597
Cost of sales - including replanting expenditure      
 of RM138,612 (2001: RM409,563)                      (1,087,550)     (1,416,819)
Gross loss                                              (68,439)       (465,222)

Distribution costs                                      (72,724)        (61,752)
Administrative expenses                                 (96,604)        (94,131)
                                                       (237,767)       (621,105)

Other income                                              1,188             608
Operating loss                                         (236,579)       (620,497)
Gain on disposal of tangible fixed assets                 3,598             -
Interest receivable on short term deposits                6,139          19,471
Loss on ordinary activities before taxation            (226,842)       (601,026)

Tax on loss on ordinary activities                            -          (7,908)

RETAINED (LOSS)/PROFIT FOR THE YEAR                    (226,842)       (608,934)

Loss per 10p share                                    (13.24 sen)     (35.5 sen)

 
STATEMENT OF TOTAL RECOGNISED 
GAINS AND LOSSES

The Company has no recognised gains and losses other than the loss of RM226,842 
for the year (2001: RM608,934).


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