FINANCIAL

ANNOUNCEMENT

 
 

GENERAL ANNOUNCEMENT


 INTERIM FINANCIAL REPORTS :

3rd. Qtr (FY '08) - 31 Mar 2008

2nd. Qtr (FY '08) - 31 Dec 2007

1st. Qtr (FY '08) - 30 Sept 2007

4th. Qtr (FY '07) - 30 Jun 2007

3rd. Qtr (FY '07) - 31 Mar 2007

2nd. Qtr (FY '07) - 31 Dec 2006

1st. Qtr (FY '07) - 30 Sept 2006

4th. Qtr (FY '06) - 30 Jun 2006

3rd. Qtr (FY '06) - 31 Mar 2006

2nd. Qtr (FY '06) - 31 Dec 2005

1st. Qtr (FY '06) - 30 Sept 2005

4th. Qtr (FY '05) - 30 Jun 2005

3rd. Qtr (FY '05) - 31 Mar 2005

2nd. Qtr (FY '05) - 31 Dec 2004

1st. Qtr (FY '05) - 30 Sep 2004

 4th. Qtr (FY '04) - 30 Jun 2004

3rd. Qtr (FY '04) - 31 Mac 2004

 2nd. Qtr (FY '04) - 31 Dec 2003

1st. Qtr (FY '04) - 30 Sep 2003


 



PLENITUDE BHD
(Company No : 531086-T)
(Incorporated in Malaysia)

B.

 ADDITIONAL INFORMATION REQUIRED BY THE KLSE’S
 LISTING REQUIREMENTS
1. Review of Performance of the Company and its Principal subsidiaries
 

The Group achieved a profit after tax of RM18.38 million on the back of a revenue of RM78.95 million for the current year-to-date under review. This performance was mainly attributable to progressive profit recognized on properties sold, completed and handed over in respect of the Desa Tebrau project, Johor and Taman Putra Prima in Selangor and Bandar Perdana in Kedah. Apart from the profit contributed from property development, Tanjung Bungah Beach Hotel in Penang has also contributed 2.87% to the earning.


2.
Material changes in the Quarterly Results compared to the results of the Preceding Quarter
 

The profit after tax and revenue for the current quarter are RM11.2 million and RM43.3 million as compared to RM7.1 million and RM35.6 million, respectively for the immediate preceding quarter.


3.
Prospects for the Current Financial Year
 

Based on the Group’s existing projects and the introduction of the Economic Stimulus Package by the Government in May 2003 which encompassed a comprehensive set of incentives for the property sector (these include stamp duty exemption and income tax relief on interest payments for houses below RM180,000, reductions in interest rate and lowering the floor price for house purchase by foreigners to RM150,000), the Board of Directors is expecting a better year ahead, barring unforeseen circumstances.


4.
Variance of Actual Profit from Forecast Profit
  Not applicable as no profit forecast was published for this quarter.

5.
Income Tax
  The taxation charge for the current quarter and financial year-to-date include the followings :
 
  Quarter
Ended
31/12/2003
RM'000
 Year
Ended
31/12/2003
RM'000

    Current Taxation
3,454
6,486


6.

Profit on Sale of Unquoted Investments and/or Properties
  There is no sale of unquoted investments and/or properties for the current quarter and financial year-to-date.

7.
Quoted Securities
  a) There was no purchase or disposal of quoted securities in the current financial year to
    date.
b) There was no investment in quoted shares held as at end of the reporting period.

8.
Status of Corporate Proposals
  a) There were no corporate proposals announced but not completely at the date of this     quarterly report.
b) As at the date of this report, the proceeds raised from the Public Issue pursuant to     the listing of the Company on the Main Board of KLSE, amounting to the RM54     million (see note 6 in Section A) were utilised as follows:
 



    Year 2004		 As approved
by Securities
Commission
RM'000
 Utilised As
at date of
report
RM'000
 Unutilised As
at date of
report
RM'000

    Repayment of bank borrowings
17,000  
-  
17,000  
    Working capital 23,000   12,500   10,500  
    Listing expenses 4,000   2,516   1,484  
  44,000   15,016   28,984  
    Year 2005
    Working capital 10,000   -   10,000  
    Total 54,000   15,016   38,984  

9.
Group Borrowings and Debt Securities
  The Group borrowings as at 31 December 2003 are as follows :-
 
  RM'000

    Short term borrowings (secured)
  9,612
    Long term borrowings (secured) 16,000
  25,612
  There are no borrowings in foreign currency.


10.

Off Balance Sheet Financial Instruments
  There were no financial instruments with off balance sheet risk for the quarter ended 31 December 2003.

11.
Material Litigation
  There is no material litigation which will adversely affect the position or business of the Group.

12.
Dividends
  No dividend has been declared for the quarter ended 31 December 2003.

13.
Earnings Per share
Description Current Quarter
Ended
31/12/2003
('000)		 Current Year
Todate
Ended
31/12/2003
('000)

Net Profit attributable to shareholders (RM'000)
11,242
18,382
Number of ordinary shares in issue ('000) 135,000
 135,000
Basic earnings per share (sen)  9.52* 16.76#


* Based on the weighted average number of shares of 118,125,000 in issue as the Public Issue is in November 2003.

# Based on the weighted average number of shares of 109,687,500 in issue as the Public Issue is in November 2003.