Half-year Report

Hidong Estate PLC

25 October 2023

 

Hidong

Estate

PLC

Interim report of shareholders for the half year ended 

30 September 2023

The results for the half year ended 30 September 2023 are given below with appropriate comparative figures:-

Statement of Comprehensive Income for the half year ended 30 September 2023

	Half year ended	Half year ended	Year ended
	30 Sept 2023	30 Sept 2022	31 Mar 2023
	RM	RM	RM
Income from investments	7,647	37,886	123,785
Interest receivable and similar income	120,056	87,610	271,695
Net Income	127,703	125,496	395,480
Administrative expenses	(95,964)	(87,515)	(329,185)
(Loss)/Profit before taxation	31,739	37,981	66,295
Taxation	(25,500)	(21,000)	(61,913)
Profit/(loss) for the period	6,239	16,981	4,382
Other comprehensive income
Fair Value (loss)/gain on investments	(1,129)	(123,943)	(80,540)
Total Comprehensive (loss)/profit for the year	5,110	(106,962)	(76,158)
Basic and diluted profit/(loss) per 10p share	0.36 sen	0.99 sen	0.26 sen

Notes:

1. The directors do not propose to pay any interim dividend (2022 : RM Nil).
2. Copies of the Interim Report are available from the Company's registered office at Neville House Steelpark Road, Halesowen, West Midlands B62 8HD United Kingdom.

Penang, Malaysia                                                         CHEW SING GUAN

25 October 2023                                                           Chairman

Hidong

Estate

PLC

Balance sheet as at 30 September 2023

	As at	As at	As at
	30 Sept 2023	30 Sept 2022	31 Mar 2023
	RM	RM	RM
Fixed assets
Investments	1,022,806	924,365	1,020,359
Current assets
Debtors	37	20,100	14,187
Accrued interest income	-	8,772	66,581
Fixed Deposits with licensed banks	3,000,000	6,500,000	3,000,000
Cash at bank and short-term deposits	8,108,259	4,654,630	8,070,352
	11,108,296	11,183,502	11,151,120
Current liabilities
Creditors : amount falling due within one year	(67,255)	(82,192)	(115,000)
	(67,255)	(82,192)	(115,000)
Net current assets	11,041,041	11,101,310	11,036,120
Net assets	12,063,847	12,025,675	12,056,479
Capital and reserves
Called up share capital	1,067,846	1,067,846	1,067,846
Revaluation reserve	(11,634)	(56,167)	(12,764)
Profit and loss reserve	11,007,635	11,013,996	11,001,397
Shareholders' funds	12,063,847	12,025,675	12,056,479

These financial statements were approved by the Board of Directors on 25 October 2023.

CHEW SING GUAN                            )

                                                            )

                                                            )    Directors                  

                                                            )

CHEW BEOW SOON                          )

Hidong

Estate

PLC

Statement of cash flows for the half year ended 30 September 2023

	Half year ended	Half year ended	Year ended
	30 Sept 2023	30 Sept 2022	31 Mar 2023
	RM	RM	RM
Cash flows from operating activities
Profit/(loss) for the period	6,239	16,981	4,382
Adjustments for:
Interest receivable and similar income	(120,056)	(87,610)	(271,695)
Income from investments	(7,647)	(37,886)	(123,785)
Taxation	25,500	21,000	61,913
	(95,964)	(87,515)	(329,185)
(Decrease)/increase in other creditors	(47,745)	(33,748)	(940)
Decrease/(increase) in other debtors	80,731	25,157	-
	(62,978)	(96,106)	(330,125)
Tax paid	(25,500)	(30,000)	(65,000)
Net cash used in operating activities	(88,478)	(126,106)	(395,125)
Cash flows from investing activities
Income from investments	7,647	37,886	55,758
Interest received	120,056	87,610	250,673
Purchase of investments	(1,318)	(3,806)	-
Sale of investments		-	-
Decrease in deposits		-	3,500,000
Net cash from investing activities	126,385	121,690	3,806,431
Cash flows from financing activities		-	-
Net (decrease)/increase in cash and cash equivalents	37,907	(4,416)	3,411,306
Cash and cash equivalents at 1 April	8,070,352	4,659,046	4,659,046
Cash and cash equivalents at                       30September/31 March	8,108,259	4,654,630	8,070,352

 

END