Half Yearly Report

RNS Number : 4930W

Hidong Estate PLC

19 November 2010

 



Hidong

Estate

PLC

(Incorporated in England)                                                                                                           

Interim report of shareholders for the half year ended

30 September 2010

The results for the half year ended 30 September 2010 are given below with appropriate comparative figures:-

Profit and loss account for the half year ended 30 September 2010

	Half year ended	Half year ended	Year ended
	30 Sept 2010	30 Sept 2009	31 Mar 2010
	RM	RM	RM
Administrative expenses	(111,441)	(100,394)	(216,098)
Operating loss	(111,441)	(100,394)	(216,098)
Income from investments	12,285	9,780	11,156
Gain on disposal of investments	18,828	89,070	106,187
Interest receivable on short term deposits	130,769	111,175	223,196
Profit on ordinary activities before taxation	50,441	109,631	124,441
Tax on profit on ordinary activities	(21,154)	(22,235)	(27,766)
Retained profit for the period	29,287	87,396	96,675
Basic and diluted profit per 10p share	1.71 sen	5.10 sen	5.64 sen

Notes:

1.   The Company recorded a profit before tax of RM50,441 for the six months' period ended 30 September 2010 (2009 : RM109,631).

2.   The directors do not propose to pay any interim dividend (2009 : RM Nil).

3.   Copies of the Interim Report are available from the Company's registered office at Neville House 18 Laurel Lane Halesowen West Midlands B63 3DA.

Penang                                                                         CHEW SING GUAN

19 November 2010                                                                  Chairman

Hidong

Estate

PLC

(Incorporated in England)                                                                                                           

Balance sheet as at 30 September 2010

	As at	As at	As at
	30 Sept 2010	30 Sept 2009	31 Mar 2010
	RM	RM	RM
Fixed assets
Investments	941,046	499,720	767,342
Current Assets
Debtors	44,151	78,792	83,667
Cash at bank and in hand	9,889,246	10,233,816	9,927,958
	9,933,397	10,312,608	10,011,625
Current Liability
Creditors	(456,504)	(486,343)	(463,069)
	(456,504)	(486,343)	(463,069)
Net current assets	9,476,893	9,826,265	9,548,556
	10,417,939	10,325,985	10,315,898
Capital And Reserves
Called up share capital	1,067,846	1,067,846	1,067,846
Fair value reserve	230,277	176,889	157,523
Profit and loss account	9,119,816	9,081,250	9,090,529
Shareholders' Funds	10,417,939	10,325,985	10,315,898

These financial statements were approved by the Board of Directors on 19 November 2010.

CHEW SING GUAN                               )

                                                            )

                                                            )    Directors                 

                                                            )

CHEW BEOW SOON                            )

Statement of total recognised gains for the half year ended 30 September 2010

	Half year ended	Half year ended	Year ended
	30 Sept 2010	30 Sept 2009	31 Mar 2010
	RM	RM	RM
Profit for the period	29,287	87,396	96,675
Unrealised gains on investments	72,754	170,542	137,506
Total recognised gains for the period	102,041	257,938	234,181

Hidong

Estate

PLC

(Incorporated in England)                                                                                                           

Reconciliation of operating loss to net cash outflow from operating activities

	Half year ended	Half year ended	Year ended
	30 Sept 2010	30 Sept 2009	31 Mar 2010
	RM	RM	RM
Operating loss	(111,441)	(100,394)	(216,098)
Decrease/(increase) in debtors	39,516	(36,726)	29,345
Decrease in creditors	(6,565)	(10,945)	(19,302)
Net cash outflow from operating activities	(78,490)	(148,065)	(206,055)

Cash flow statement for the half year ended 30 September 2010

	Half year ended	Half year ended	Year ended
	30 Sept 2010	30 Sept 2009	31 Mar 2010
	RM	RM	RM
NET CASH OUTFLOW FROM OPERATING ACTIVITIES	(78,490)	(148,065)	(206,055)
RETURNS ON INVESTMENTS AND SERVICING OF FINANCE
Dividend received	12,285	9,780	11,156
Interest received	130,769	111,175	155,774
TAXATION
Overseas tax paid	(21,154)	(25,176)	(49,148)
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENTS
Purchase of investments	(189,599)	(24,478)	(361,803)
Sale of investments	107,477	315,800	383,254
NET CASH (OUTFLOW)/INFLOW BEFORE MANAGEMENT OF LIQUID RESOURCES	(38,712)	239,036	(66,822)
MANAGEMENT OF LIQUID RESOURCES
Decrease/(increase) in short term deposits	100,000	(200,000)	-
INCREASE/(DECREASE) IN CASH	61,288	39,036	(66,822)

 

END

 

 

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