Poly Bhd is a public listed manufacturing company. Its' summarised financial statements for the year ended 30 September 2019 and 2018 comparatives are as below: Statements of comprehensive income for the year ended 30 September: 2019 RM000 29,500 (25,500) 4,000 (1,050) (4,900) Revenue Cost of sales Gross profit Distribution costs Administrative expenses Investment income Finance costs Profit (loss) before taxation Income tax (expense) relief Profit (loss) for the year 2018 RM000 36,000 (26,000) 10,000 (800) (3,900) 200 (500) 5,000 (1,500) 3,500 50 (600) (2,500) 400 (2,100) Statements of financial position as at 30 September: 2019 2018 RM000 RM000 RM000 RM000 Assets Non-current assets Property, plant and equipment Investments at fair value through profit or loss 17,600 2,400 24,500 4,000 20,000 28,500 Current assets Inventory and work-in-progress Trade receivables Tax asset Bank Total assets 2,200 2,200 600 1,200 1,900 2,800 nil 100 6,200 26,200 4,800 33,300 Equity and liabilities Equity Equity shares of RM1 each Share premium Revaluation reserve Retained earnings 13,000 1,000 nil 12,000 nil 4,500 6,500 23,000 3,600 17,600 Non-current liabilities 4,000 1,200 5,000 700 Bank loan Deferred tax Current liabilities Trade payables Current tax payables Total equity and liabilities 3,400 2,800 1,800 nil 3,400 26,200 4,600 33,300 The following information has been obtained from the Chairman's Statement and the notes to the financial statements: Market conditions during the year ended 30 September 2019 proved very challenging due largely to difficulties in the global economy as a result of a sharp recession which has led to steep falls in share prices and property values. Tenten has not been immune from these effects and our properties have suffered impairment losses of RM6 million. The excess of these losses over previous surpluses has led to a charge to cost of sales of RM15m million as an addition to the normal depreciation charge. "Our portfolio of investments at fair value through profit or loss has been 'marked to market' (fair valued) resulting in a loss of RM6 million (included in administrative expenses) There were no additions to or disposals of non-current assets during the year. 'In response to the downturn the company has unfortunately had to make a number 'In response to the downturn the company has unfortunately had to make a number of employees redundant incurring severance costs of RM13 million (included in cost of sales) and undertaken cost savings in advertising and other administrative expenses. ... 11/- The difficulty in the credit markets has meant that the finance cost of our variable rate bank loan has increased from 4.5% to 8%. In order to help cash flows, the company made a rights issue during the year and reduced the dividend per share by 50%. 'Despite the above events and associated costs, the Board believes the company's underlying performance has been quite resilient in these difficult times. Required: Analyse and discuss the financial performance and position of Tenten as portrayed by the above financial statements and the additional information provided. Your analysis must be supported by profitability, liquidity and gearing and other appropriate ratios. (30 marks)