52 Statements Of Financial Position as at 31 December 2019 Group Company 2019 2018 2019 2018 NOTE RM RM RM RM ASSETS Non-Current Assets Property, plant and equipment 63,037,243 103,677,524 Investment properties 1,637,805 1,740,045 Right-of-use assets 37,795,601 Investment in subsidiary companies 33,986,734 34,332,168 102,470,649 105,417.569 33,986,734 34,332,168 Current Assets Inventories 35,099,064 36,157,687 Trade receivables 48,742,620 43,696,703 Other receivables 21,107,230 8, 164,821 1.000 1.000 Amounts due from subsidiary companies 11 108,414,710 107,023,080 Tax recoverable 1,123,051 1,364,886 12,840 62,814 Deposits, cash and bank balances 12 85,329,726 87,416,845 191,401,691 176,800,942 108,428,552 107,086,896 Total Assets 293,872,340 282,218,511 142,415,286 141,419.064 EQUITY Share capital 13 130,154,539 130,154,539 130,154,539 130,154,539 Reserves 14 118,889,267 106,043,380 11,756,942 10,801,322 Total equity attributable to owners of the Company 249,043,806 236,197.919 141,911,481 140,955,861 LIABILITIES Non-Current Liabilities Lease liabilities 15 265,804 Deferred tax liabilities 16 5,905,678 7.452.228 6,171,482 7.452,228 Current Liabilities Bank borrowings 17 5,843,427 Trade payables 18 20,329,363 27,765,771 Other payables 19 10,259,832 10,273,789 503,805 463,203 Tax payable 1,772,467 528,804 Lease liabilities 16 451,963 38,657,052 38,568,364 503,805 463,203 Total Liabilities 44,828,534 46,020,592 503,805 463,203 Total Equity and Liabilities 293,872,340 282,218,511 142.415,286 141,419,064 The accompanying notes form an integral part of the financial statements. Cocoaland Holdings Barhad Begun 00041813413 andits Annual Report 201952 Statements Of Financial Position as at 31 December 2019 Group Company 2019 2018 2019 2018 NOTE RM RM RM RM ASSETS Non-Current Assets Property, plant and equipment 63,037,243 103,677,524 Investment properties 1,637,805 1,740,045 Right-of-use assets 37,795,601 Investment in subsidiary companies 33,986,734 34,332,168 102,470,649 105,417.569 33,986,734 34,332,168 Current Assets Inventories 35,099,064 36,157,687 Trade receivables 48,742,620 43,696,703 Other receivables 21,107,230 8, 164,821 1.000 1.000 Amounts due from subsidiary companies 11 108,414,710 107,023,080 Tax recoverable 1,123,051 1,364,886 12,840 62,814 Deposits, cash and bank balances 12 85,329,726 87,416,845 191,401,691 176,800,942 108,428,552 107,086,896 Total Assets 293,872,340 282,218,511 142,415,286 141,419.064 EQUITY Share capital 13 130,154,539 130,154,539 130,154,539 130,154,539 Reserves 14 118,889,267 106,043,380 11,756,942 10,801,322 Total equity attributable to owners of the Company 249,043,806 236,197.919 141,911,481 140,955,861 LIABILITIES Non-Current Liabilities Lease liabilities 15 265,804 Deferred tax liabilities 16 5,905,678 7.452.228 6,171,482 7.452,228 Current Liabilities Bank borrowings 17 5,843,427 Trade payables 18 20,329,363 27,765,771 Other payables 19 10,259,832 10,273,789 503,805 463,203 Tax payable 1,772,467 528,804 Lease liabilities 16 451,963 38,657,052 38,568,364 503,805 463,203 Total Liabilities 44,828,534 46,020,592 503,805 463,203 Total Equity and Liabilities 293,872,340 282,218,511 142.415,286 141,419,064 The accompanying notes form an integral part of the financial statements. Cocoaland Holdings Barhad Begun 00041813413 andits Annual Report 201954 Statements Of Changes In Equity for the financial year ended 31 December 2019 Attributable to Owners of the Company Non-Distributable * Distributable Exchange Share Translation Retained Total Capital Reserve Earnings Equity NOTE RM RM RM RM Group At 1 January 2019, as 130,154,539 187,910 105,855,470 236, 197,919 previously reported Effect of adopting MFRS 16 2(a) (7,711) (7,711) At 1 January 2019, as restated 130,154,539 187,910 105,847,759 236,190,208 Profit for the financial year 35,732,051 35,732,051 Exchange translation differences for foreign operations 1,547 1,547 Total comprehensive income for the financial year 1,547 35,732,051 35,733,598 Transactions with owners: Dividends to owners of the Company: - Single tier dividend of RMO. 10 each 30 (22,880,000) (22,880,000) Total transactions with owners of the Company (22,880,000) (22,880,000) At 31 December 2019 130,154,539 189,457 118,699,810 249,043,806 Attributable to Owners of the Company Non-Distributable Distributable Exchange Share Translation Retained Total Capital Reserve Earnings Equity NOTE RM RM RM RM Group At 1 January 2018 130,154,539 191,204 118,401,323 248,747,066 Profit for the financial year 30,926,147 30,926,147 Exchange translation differences for foreign operations (3,294) (3,294) Total comprehensive (loss)/ income for the financial year (3,294) 30,926,147 30,922,853 Transactions with owners: Dividends to owners of the Company: Single tier dividend of RMO.13 each 30 (29,744,000) (29,744,000) Single tier dividend of RM0.06 each 30 13,728,000) (13,728,000) Total transactions with owners of the Company (43,472,000) (43,472,000) At 31 December 2018 130,154,539 187,910 105,855,470 236,197,919* Non-Distributable * * Distributable Share Retained Total Capital Earnings Equity NOTE RM RM RM Company At 1 January 2019 130,154,539 10,801,322 140,955,861 Profit for the financial year, representing total comprehensive income for the financial year 23,835,620 23,835,620 Transactions with owners: Dividends to owners of the Company: - Single tier dividend of RMO. 10 each 30 (22,880,000) (22,880,000) Total transactions with owners of the Company (22,880,000) (22,880,000) At 31 December 2019 130,154,539 11,756,942 141,911,481 Non-Distributable * Distributable Share Retained Total Capital Earnings Equity NOTE RM RM RM Company At 1 January 2018 130,154,539 42,998,014 173, 152,553 Profit for the financial year, representing total comprehensive income for the financial year 11,275,308 11,275,308 Transactions with owners: Dividends to owners of the Company: - Single tier dividend of RMO. 13 each 30 (29,744,000) (29,744,000) - Single tier dividend of RM0.06 each 30 (13,728,000) (13,728,000) Total transactions with owners of the Company (43,472,000) (43,472,000) At 31 December 2018 130,154,539 10,801,322 140,955,86156 Statements Of Cash Flows for the financial year ended 31 December 2019 Group Company 2019 2018 2019 2018 NOTE RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 47,315,579 39,763,394 23,835,770 11,275,308 Adjustments for: Amortisation of: Investment properties 102,240 - Right-of-use assets 1,299,050 Bad debts written off: trade receivables 453,115 43.581 - former subsidiary company 173,341 Depreciation of property, plant and equipment 9,973,985 11,151,200 Dividend income (25,000,000) (20,000,000) Gain on disposal of property, plant and equipment (143,995) (259,852) Impairment loss on investment in a subsidiary company 345,434 Impairment loss on trade receivables 623,602 Impairment loss on amount due from a subsidiary company 44,968 Inventories written off 315,439 300,330 Inventories written down 397,427 1,301, 100 Interest income (3,361,185) (2,751,765) Interest expense 21,268 Loss on disposal of a subsidiary company 52,379 7,819,164 Over provision of commission expenses (415,177) Property, plant and equipment written off 16.752 18,864 Reversal of impairment loss on trade receivables (1,201,084) (1,023,405) Reversal of inventories written down (396,726) (955,172) Unrealised gain on foreign exchange (84,903) (462,851) Unrealised loss on foreign exchange 161,484 504,076 Waiver of debts on trade payables (35,708) Waiver of debts on other payables (285,902) (8,115) Operating profit/(loss) before working capital changes 55,206,146 47,222,879 (773,828) (732,187) Changes in working capital: Inventories 659,168 (1,184,882) Subsidiary companies (1,436,598) 22,785,649 Receivables (17,873,909) 1,326,479 Payables (7,241,299) 7,400,577 40,602 (50,434) (24,456,040) 7,542,174 (1,395,996) 22,735,215 Cash generated from/(used in) operations 30,750,106 54.765,053 (2,169,824) 22,003,02857 statements of cash flows (cont'd) Group Company 2019 2018 2019 2018 NOTE RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES (Cont'd) Dividend received 25,000,000 20,000,000 Interest received 3,361,185 2,751,765 Interest paid (21,268) Tax refund 1,537,051 42,135 62,664 Tax paid (13,181,631) (11,986,770) (12,840) (22,664) (8,304,663) (9.192,870) 25,049,824 19,977.336 Net cash from operating activities 22,445,443 45,572.183 22,880,000 41,980,364 CASH FLOWS FROM INVESTING ACTIVITIES Proceed from disposal of property, plant and equipment 144,002 332,393 Purchase of property, plant and equipment (7,191,307) (3,795,455) Proceed from disposal of a subsidiary company 7(a) 1,492,000 Net cash inflow on disposal of a subsidiary company 7(a) 1,088,961 Investment in a subsidiary company (364) Decrease/(Increase) in fixed deposits with maturity more than three months 17,911,706 (20,243,828) Net cash from/(used in) investing activities 10,864,401 (22.617.929 1.491.636 CASH FLOWS FROM FINANCING ACTIVITIES Dividends Paid (22,880,000) (43,472,000) (22,880,000) (43,472,000) Repayment of lease liabilities (544,160) Drawdown of letter of credit 5,828,220 Changes in fixed deposits pledge with licensed bank (6,625,126) Net cash used in financing activities (24,221,066 (43,472,000) (22,880,000) (43,472,000) Net increase/(decrease) in cash and cash equivalents 9,088,778 (20,517,746) Effect of exchange translation differences on cash and cash equivalents 110,683 74,032 Cash and cash equivalents at beginning of the financial year 59,109.957 79,553,671 N 2 Cash and cash equivalents at end of the financial year 68,309.418 59.109,957 2 Cash and cash equivalents at the end of the financial year comprises: Cash and bank balances 11,388,228 17,973,066 Fixed deposits with licensed banks 73,941,498 69,443,779 85,329,726 87.416,845 NIN Less: Fixed deposits with maturity NIN more than three months (10,395,182) (28,306,888) Less: Fixed deposits pledged with licensed bank (6,625,126) 68,309,418 59,109,957 The accompanying notes form an integral part of the financial statements. Annual Report 2019 Cocoaland Holdings Berhad Registration Me: 200001013413 018018-955 statements of changes in equity (cont'd) * Non-Distributable * Distributable Share Retained Total Capital Earnings Equity NOTE RM RM RM Company At 1 January 2019 130,154,539 10,801,322 140,955,861 Profit for the financial year, nting total comprehensive income for the financial year 23,835,620 23,835,620 Transactions with owners: Dividends to owners of the Company: - Single tier dividend of RM0. 10 each 30 (22,880,000) (22,880,000) Total transactions with owners of the Company (22,880,000) (22,880,000) At 31 December 2019 130,154,539 11,756,942 141,911,481 * Non-Distributable * Distributable Share Retained Total Capital Earnings Equity NOTE RM RM RM Company At 1 January 2018 0,154,539 42,998,014 173, 152,553 Profit for the financial year, representing total comprehensive income for the financial year 11,275,308 11,275,308 Transactions with owners: Dividends to owners of the Company: Single tier dividend of RM0. 13 each 30 (29,744,000) (29,744,000) Single tier dividend of RM0.06 each 30 (13,728,000) (13,728,000) Total transactions with owners of the Company (43,472,000) (43,472,000) At 31 December 2018 130,154,539 10,801,322 140,955,861Statements Of Profit Or Loss And Other 53 Comprehensive Income for the financial year ended 31 December 2019 Group Company 2019 2018 2019 2018 NOTE RM RM RM RM Revenue 20 254,066,143 253,819,040 25,000,000 20,000,000 Cost of sales (180,470,870) (186,026,026) Gross profit 73,595,273 67,793,014 25,000,000 20,000,000 Other income 21 10,045,883 6,978,175 Net gain/(loss) on impairment of financial instruments 23 577.482 1,023,405 (44,968) Distribution costs (12,663,384) (12,334,754) Administrative expenses (24,218,407) (23,696,446) (1,119,262) (8,724,692) Finance cost 22 (21,268 Profit before taxation 23 47,315,579 39,763,394 23,835,770 11,275,308 Taxation (11,583,528) (8,837,247 (150) Profit for the financial year 35,732,051 30,926,147 23,835,620 11,275,308 Other comprehensive income/(loss): Items that are or may be reclassified subsequently to profit or loss Exchange translation differences for foreign operations 1,547 (3,294) Other comprehensive income/(loss) for the financial year 1,547 (3,294) Total comprehensive income for the financial year 35,733,598 30,922,853 23,835,620 11,275,308 Profit for the financial year attributable to: Owners of the Company 35,732,051 30,926,147 23,835,620 11,275,308 Total comprehensive income attributable to: Owners of the Company 35,733,598 30,922,853 23,835,620 11,275,308 Earnings per share Basic and diluted earnings per ordinary share (sen) 26 15.62 13.52Statements Of Profit Or Loss And Other 53 Comprehensive Income for the financial year ended 31 December 2019 Group Company 2019 2018 2019 2018 NOTE RM RM RM RM Revenue 20 254,066,143 253,819,040 25,000,000 20,000,000 Cost of sales (180,470,870) (186,026,026) Gross profit 73,595,273 67,793,014 25,000,000 20,000,000 Other income 21 10,045,883 6,978,175 Net gain/(loss) on impairment of financial instruments 23 577.482 1,023,405 (44,968) Distribution costs (12,663,384) (12,334,754) Administrative expenses (24,218,407) (23,696,446) (1,119,262) (8,724,692) Finance cost 22 (21,268 Profit before taxation 23 47,315,579 39,763,394 23,835,770 11,275,308 Taxation (11,583,528) (8,837,247 (150) Profit for the financial year 35,732,051 30,926,147 23,835,620 11,275,308 Other comprehensive income/(loss): Items that are or may be reclassified subsequently to profit or loss Exchange translation differences for foreign operations 1,547 (3,294) Other comprehensive income/(loss) for the financial year 1,547 (3,294) Total comprehensive income for the financial year 35,733,598 30,922,853 23,835,620 11,275,308 Profit for the financial year attributable to: Owners of the Company 35,732,051 30,926,147 23,835,620 11,275,308 Total comprehensive income attributable to: Owners of the Company 35,733,598 30,922,853 23,835,620 11,275,308 Earnings per share Basic and diluted earnings per ordinary share (sen) 26 15.62 13.52