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 MASB’S
 LISTING REQUIREMENTS
1. Review of Performance of the Company and its Principal subsidiaries
 

The Group achieved a profit after tax of RM22.73 million on the back of a revenue of RM99.20 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 Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor and Bandar Perdana in Kedah. Apart from the profit contributed from property development, projects Tanjung Bungah Beach Hotel in Penang have also contributed 2.84% 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 RM4.3 million and RM20.0 million as compared to RM11.2 million and RM43.3 million, respectively for the immediate preceding quarter. A lower profit after tax and revenue is in line with the Group forecast for the current quarter as compared to preceding quarter after taken into consideration the project completion and billing stages of the Group. The lower results recorded for current quarter is mainly due to slower development progress achieved by a subsidiary company, Changkat Kiara Sdn Bhd in Kuala Lumpur whereby profits have yet been recognized.


3.
Prospects for the Current Financial Year
 

Based on the Group’s premise on the timely completion of the on-going projects and barring any unforeseen circumstances, the Group is cautiously optimistic that the results will be favourable in the remaining quarter for financial year ending June 2004.


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
31/03/2004
RM'000
 Year
Ended
31/03/2004
RM'000

    Current Taxation
1,321
7,806


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; and.
b) There was no investment in quoted shares held as at end of the reporting period.

8.
a) Status of Corporate Proposals
  There were no corporate proposals announced but not completely at the date of this quarterly report.
b) Status of Utilisation of Proceeds
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 Bursa Malaysia, amounting to the RM54 million 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   2,602   1,398  
  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 March 2004 are as follows :-
 
  RM'000

    Short term borrowings (secured)
  4,795
    Long term borrowings (secured) 16,000
  20,795
  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 March 2004.

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

12.
Dividends
  An interim dividend of 3 sen per ordinary share of RM1.00 each, less 28% income tax amounting to RM2,916,000 in respect of the financial year ending 30 June 2004 was declared and paid by the company during the financial year.

13.
Earnings Per share
Description Current Quarter
Ended
31/03/2004
('000)		 Current Year
Todate
Ended
31/03/2004
('000)

Net Profit attributable to shareholders (RM'000)
4,345
22,727
Number of ordinary shares in issue ('000) 135,000
 135,000
Basic earnings per share (sen) 3.22 19.24#

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