JTH - 3Q 31 Mar 2016 Results
JTH - 3Q 31 Mar 2016 Results
JTH - 3Q 31 Mar 2016 Results
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016 - unaudited
Total comprehensive income for the period 1,598 1,699 53,958 21,248
The unaudited condensed consolidated income statements should be read in conjunction with the audited financial statements for the year ended
30 June 2015 and the accompanying explanatory notes attached to this quarterly report.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016 - unaudited
UNAUDITED AUDITED
AS AT AS AT
31/03/2016 30/06/2015
RM'000 RM'000
ASSETS
Non-current Assets
Property, plant and equipment 1,178,572 1,159,249
Biological assets 1,579,708 1,548,690
Timber rights - 2,577
Land use rights 40 49
Goodwill on consolidation 62,337 62,337
Other intangible assets 579 660
Investment securities 83,643 5,000
Deferred tax assets 19,958 14,965
2,924,837 2,793,527
Current Assets
Inventories 145,104 146,944
Trade and other receivables 72,396 118,470
Other current assets 4,365 3,831
Investment securities - 7
Income tax receivable 22,185 3,436
Cash and bank balances 53,264 21,097
297,314 293,785
TOTAL ASSETS 3,222,151 3,087,312
Net assets per share attributable to equity holders (RM) 1.87 1.83
Number of ordinary shares net of treasury shares 967,993 967,994
The unaudited condensed consolidated balance sheets should be read in conjunction with the audited financial statements
for the year ended 30 June 2015 and the accompanying explanatory notes attached.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016 - unaudited
Opening balance at 01 July 2015 973,718 (13,683) (6,458) 3,684 811,808 1,769,069 6,041 1,775,110
At 31 March 2016 973,718 (13,684) (6,458) 12,327 845,259 1,811,162 8,225 1,819,387
Opening balance at 01 July 2014 973,718 (13,679) (6,477) 3,684 794,693 1,751,939 3,231 1,755,170
At 31 March 2015 973,718 (13,683) (6,477) 3,684 799,359 1,756,601 5,293 1,761,894
The unaudited condensed consolidated statement of changes in equity should be read in conjunction with the audited financial statements for the year ended 30 June 2015 and the accompanying
explanatory notes attached to this quarterly report.
851,128.00
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016 - unaudited
Current Corresponding
9 months ended 9 months ended
31/03/2016 31/03/2015
RM'000 RM'000
Cash flows from operating activities
Profit before taxation 60,268 37,010
Adjustments for:
Amortisation of other intangible assets 493 10,537
Amortisation of land use rights 182 157
Depreciation 70,063 62,740
Dividend income from investment securities (2) (858)
Fair value loss on derivative assets - 1,193
Impairment of trade and other receivables 9,000 3,882
Interest expenses 41,490 22,538
Interest income (39) (9)
Net loss on disposal of property, plant and equipment 177 3,182
Net unrealised foreign exchange loss 717 960
Operating cash flows before working capital changes 182,349 141,332
Interest received 39 9
Interest paid (41,516) (30,448)
Income taxes paid, net of refund (20,728) (9,170)
Net cash flows from operating activities 110,170 89,200
Cash and cash equivalents at the beginning of the year (103,310) (64,944)
Cash and cash equivalents at the end of the year (50,868) (44,563)
The unaudited condensed consolidated cash flow statement should be read in conjunction with the audited financial statements for the
year ended 30 June 2015 and the accompanying explanatory notes attached to this quarterly report.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
1 Basis of Preparation
The quarterly report is unaudited and has been prepared in accordance with the requirements of
Financial Reporting Standard (“FRS”) 134: Interim Financial Reporting issued by Malaysian
Accounting Standards Board (“MASB”) and paragraph 9.22 of the Listing Requirements of Bursa
Malaysia Securities Berhad.
The quarterly report should be read in conjunction with the Group’s audited financial statements for
the financial year ended 30 June 2015. These explanatory notes attached to the quarterly report
provide an explanation of events and transactions that are significant to an understanding of the
changes in the financial position and performance of the Group since the financial year ended 30
June 2015.
The significant accounting policies adopted in the quarterly report are consistent with those adopted
in the Group’s audited financial statements for the financial year ended 30 June 2015. At the date of
authorization of these interim financial statements, the Group has not adopted the following
accounting standards that have been issued by the Malaysian Accounting Standards Board
(“MASB”). The Group intend to adopt these amendments/standards, if applicable, when they
become effective.
Amendments to FRS 116 and FRS 138: Clarification of Acceptable Methods 1 January 2016
of Depreciation and Amortisation
Amendments to FRS 10 and FRS 128: Sale or Contribution of Assets 1 January 2016
between an Investor and its Associate or Joint Venture
Amendments to FRS 10, FRS 12 and FRS 128: Investments Entities – 1 January 2016
Applying the Consolidation Exception
Amendments to FRS 11: Accounting for Acquisitions of Interests in Joint 1 January 2016
Operations
Amendments to FRS 127: Equity Method in Separate Financial Statements 1 January 2016
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
The auditors’ report on the financial statements for the year ended 30 June 2015 was not qualified.
Save for the weather conditions which may affect our operations, our principal business operations
have not been significantly affected by any seasonal and cyclical factors.
4 Unusual Items
There were no unusual items affecting assets, liabilities, equity, net income, or cash flows during the
current quarter and financial period-to-date.
5 Changes in Estimates
There were no changes in estimates of amounts reported in prior quarters which have a material
impact on the current quarterly report.
During the financial quarter, 1,000 shares of RM 1.00 each were purchased and retained as treasury
shares. The monthly breakdown of shares bought back is as follows:
On 31 March 2016, the number of shares retained as treasury shares amounted to 5,725,000.
Apart from the above there were no other issuances and repayments of debt and equity securities for
the period.
7 Dividends Paid
A first and final single-tier dividend of 1 sen per ordinary share in respect of the financial year ended
30 June 2015 amounting to RM9,679,938 was paid on 16th December 2015.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
8 Segmental Information
The segment information in respect of the Group’s business segments for the period-to-date ended
31 March 2016 is as follows:
The Group did not carry out any valuations on its property, plant and equipment during the current
quarter and financial period-to-date. The carrying value of property, plant and equipment is based on
the valuation incorporated in the annual financial statements for the year ended 30 June 2015.
10 Subsequent Events
No material events have arisen during the interval between the end of the current quarter and the
date of this announcement that have not been reflected in the current quarterly report.
There were no changes in the composition of the Group during the current quarter, which were
previously not announced.
There are no significant changes in contingent liabilities or assets as at the end of the current quarter.
13 Capital Commitments
The amount of commitments for the purchase of property, plant and equipment not provided for in
the quarterly report is as follows:
As at As at
31 March 2016 30 June 2015
RM’000 RM’000
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
Part B – Explanatory Notes Pursuant to Appendix 9B of the Listing Requirements of Bursa Malaysia
Securities Berhad
14 Review of Performance
For the quarter ended 31 March 2016, the Group reported a revenue of RM229.4 million
representing a decrease of 5.6% from RM243.1 million recorded in the previous
corresponding quarter. A loss before tax of RM7.6 million was registered in the current
quarter as compared to a profit before tax of RM8.6 million attained in the corresponding
period last year.
For the financial year-to-date, the Group’s revenue of RM777.4 million was 2% lower than
RM793.4 million reported in the previous corresponding period. However, pre-tax profit had
improved by 63% to RM60.3 million as compared with RM37.0 million attained in the same
period last year.
Lower revenue was resulted from the decrease in log and plywood sales volume due to lower
logs production volume.
The performance for the current quarter deteriorated with a loss of RM7.6 million as compared with
RM35.3 million profits reported in the preceding quarter.
The increased FFB cost of production was due to seasonal lower production volume of FFB which
was aggravated by weather conditions.
Lower plywood and veneer sales volume were due to the reduction in logs production volume.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
Part B – Explanatory Notes Pursuant to Appendix 9B of the Listing Requirements of Bursa Malaysia
Securities Berhad
16 Commentary on Prospects
Demand for timber products is expected to slow down due to the uncertainties of current global
economic conditions. However, the average prices of the timber products are expected to remain
stable due to the limited log supply coupled with a strong USD which is favourable to our export
sales.
For the oil palm division, higher FFB production is expected as we are entering into high crop
season and increasing palm age maturing profile. The Group will continue emphasizing on
improvement in FFB yields and strengthening its plantation management practices.
The disclosure requirements for explanatory notes on the variation of actual profit after tax and
non-controlling interest, and shortfall in profit guarantee are not applicable.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
Part B – Explanatory Notes Pursuant to Appendix 9B of the Listing Requirements of Bursa Malaysia
Securities Berhad
19 Taxation
Taxation comprise:-
Current quarter Cumulative quarter
31 March 31 March 31 March 31 March
2016 2015 2016 2015
RM’000 RM’000 RM’000 RM’000
The effective tax rate for the Group is higher than the statutory tax rate of 24%. This is mainly due
to certain expenses not allowable for tax deduction.
20 Quoted Securities
There was no purchase or disposal of quoted securities during the current quarter.
21 Unquoted Securities
There was no purchase or disposal of unquoted securities during the current quarter and financial
period-to-date.
1,073,530 951,604
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
Part B – Explanatory Notes Pursuant to Appendix 9B of the Listing Requirements of Bursa Malaysia
Securities Berhad
23 Material litigation
24 Dividend Payable
No interim dividend has been declared by the Board of Directors for the current quarter (previous
corresponding period: Nil).
i) Basic EPS
Basic earnings per share is calculated by dividing the net profit of the period over the weighted
average number of ordinary shares in issue during the period excluding treasury shares held by
the Company.
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JAYA TIASA HOLDINGS BHD ( 3751-V )
QUARTERLY REPORT FOR THE THIRD FINANCIAL QUARTER ENDED 31 MARCH 2016
Part B – Explanatory Notes Pursuant to Appendix 9B of the Listing Requirements of Bursa Malaysia
Securities Berhad
The Board of Directors in accordance with a resolution of the directors has authorized the quarterly
report for issue on 26th of May 2016.
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