Second Quarter Results Financial Statement And Related Announcement


Financials Archive

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INCOME STATEMENT FOR THE 2ND QUARTER AND HALF YEAR ENDED 30 JUNE 2017

Income Statement

STATEMENT OF COMPREHENSIVE INCOME FOR THE 2ND QUARTER AND HALF YEAR ENDED 30 JUNE 2017

Statement Of Comprehensive Income

Balance Sheet

Balance Sheet

Review of Group Performance

Revenue

PCS – Revenue increased by $20.1M and $4.5M in 2Q2017 and 1H2017 respectively. In 2Q2017, there were sales of Samsung S8 and S8 Edge. Against 1H2016, in 1H2017 there were higher revenue from Singapore but lower revenue from Malaysia.

ICT – Revenue increased by $3.0M in 2Q2017 mainly due to higher equipment sales. Revenue decreased by $4.9M in 1H2017 due to lower enterprise solutions sales and lower wholesale voice revenue.

Engineering – Revenue increased by $2.4M and $5.5M in 2Q2017 and 1H2017 respectively. The higher revenue in 2Q2017 was mainly from Indonesia and Philippines operations. In 1H2017, all operations reported higher revenue.

PBT

PCS – PBT increased by $0.2M in 2Q2017 due to higher revenue. PBT decreased by $0.3M in 1H2017 compared to 1H2016 mainly due to lower profit contribution from the Malaysian operations partially mitigated by the higher profit contribution from the Singapore operations.

ICT – PBT improved by $1.0M and $0.5M in 2Q2017 and 1H2017 respectively. Improvement in 2Q2017 was due to higher gross profit and lower operating expenses. Lower losses in 1H2017 was mainly due to lower operating expenses.

Engineering – PBT decreased by $0.1M and $0.2M in 2Q2017 and 1H2017 respectively mainly due to higher operating expenses partially mitigated by higher gross profits.

Prospects

Based on the current outlook and barring any unforeseen circumstances, the Group expects operating performance for 2H2017 to be stronger than 1H2017. Overall, the operating performance for the full year 2017 is expected to be lower than that of 2016.

This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, and governmental and public policy changes. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.