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 BURSA SECURITIES'
 LISTING REQUIREMENTS
1. Review of Performance of the Company and its Principal subsidiaries
 

The Group achieved a profit after tax of RM18.6 million on the back of a revenue of RM82.4 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 and The Residences in Changkat Kiara, Sri Hartamas. Apart from the profit contributed from property development projects, Tanjung Bungah Beach Hotel in Penang has also contributed 2% to the Group's profit.


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 RM10.6 million and RM49.7 million as compared to RM8.0 million and RM32.7 million, respectively for the immediate preceding quarter.


3.
Prospects for the Current Financial Year
 

Based on the Group’s commitment on the timely completion of the on-going projects and barring any unforeseen circumstances, the Board of Directors is cautiously optimistic that the Group will be able to achieve satisfactory performance for the  financial year ending 30 June 2005.


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

5.
Income Tax
  Income tax comprises:

FIRST QUARTER         

CUMULATIVE
  Current Year Quarter

31/12/2004
RM'000
 Preceding Year Corresponding Quarter
31/12/2003
RM'000
 Current Year To Date

31/12/2004
RM'000
 Preceding Year Corresponding Period
31/12/2003
RM'000
    Income Taxation
    Deferred Taxation		 4,468
-		 3,454
     -		 7,885
     -		 6,486
     -
  4,468 3,454 7,885 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; and.
b) There was no investment in quoted shares held as at end of the reporting period.

8.
a) Status of Corporate Proposals
 

i)  Proposed Reorganisation whereby Plenitude Berhad (“PB”) shall acquire the entire equity interest in Plenitude Holdings Sdn. Bhd. (“PHSB”) comprising 49,242,908 ordinary shares of RM1.00 each in PHSB from Cipriani Sdn Bhd (“CSB”), a wholly-owned subsidiary company of PB which owns 100% equity interest in PHSB.

The Company had on 15 March 2004 entered into a Sale and Purchase Agreement (“SPA”) with CSB, a wholly-owned subsidiary company of the Company which owns 100% equity interest in PHSB, to acquire the entire issued share capital of PHSB for a total purchase consideration of RM115,956,722. As a result of the SPA, PHSB will change from an indirect wholly-owned subsidiary company of PB to become a direct wholly-owned subsidiary company of PB.

The Company has obtained the approval of Foreign Investment Committee on 29 October 2004 and the shares of PHSB had been transferred to PB on 26 December 2004.
 

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 Securities, amounting to RM54 million were utilised as follows:

 



    Financial 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 24,340   24,340   -  
    Listing expenses 2,660   2,660   -  
  44,000   44,000   -  
    Financial Year 2005
    Working capital 10,000   10,000   -  
    Total 54,000   54,000   -  

9.
Group Borrowings and Debt Securities
  The Group borrowings as at 31 December 2004 are as follows :-
 
  RM'000

    Short term borrowings (secured)
 2,620
    Long term borrowings (secured)         1,721        
  4,341
  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 2004.

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 2004.

13.
Earnings Per share
  FIRST QUARTER CUMULATIVE
Description Current Year Quarter
31/12/2004
('000)		 Preceding Year
Corresponding Quarter
31/12/2003
('000)
 Current Year To Date 31/12/2004
('000)
 Preceding Year
Corresponding Period
31/12/2003
('000)

Net Profit attributable to shareholders (RM'000)
10,593
11,243
18,606
18,382
Number of ordinary shares in issue ('000) 135,000
 135,000 135,000 135,000
Basic earnings per share (sen) 7.85 9.52* 13.78 16.76#
         
* Based on the weighted average number of shares of 118,125,000.
#  Based on the weighted average number of shares of 109,687,500.