Documente Academic
Documente Profesional
Documente Cultură
Discontinued operation
Profit from discontinued
operation (Note 2) 51,320 136,516 172,298 151,907
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Audited
Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H) Page 2 of 27
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Audited
Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H) Page 3 of 27
Non-Current Liabilities
Redeemable preference shares 91,360 89,739
Borrowings 6,266,356 23,981,508
Land lease received in advance 268,839 267,508
Provision for retirement benefits 14,376 87,054
Deferred income 143,416 2,967,614
Derivative financial instruments - 167,338
Deferred tax liabilities 578,042 3,302,373
Trade and other payables 48,293 39,633
7,410,682 30,902,767
Current Liabilities
Borrowings 816,654 1,670,441
Trade and other payables 1,106,550 2,268,622
Tax payables 760 43,991
Deferred income 26,212 156,571
Derivative financial instruments - 28,321
1,950,176 4,167,946
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the
Audited Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H) Page 4 of 27
Condensed Consolidated Statement of Changes in Equity for the financial period ended 30 June 2015
Available-
Currency for- Cash Non-
Share Share translation Revaluation sale financial flow hedge Capital Capital* Retained controlling Total
capital premium reserve reserve assets reserves reserves reserves earnings Total interests (NCI) equity
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
At 1 January 2015 304,506 2,039,770 (3,028) 1,219,271 69,754 75,447 9,403 380,253 3,410,058 7,505,434 2,828,729 10,334,163
Total comprehensive
income/(loss) for the
financial period - - 34,177 - (6,020) (4,824) (367) - 1,445,287 1,468,253 122,674 1,590,927
At 30 June 2015 304,506 2,039,770 54,810 28,120 63,734 69 9,036 380,253 6,046,496 8,926,794 630,929 9,557,723
* - The distributable capital reserves represent mainly the net gain from disposals of investments.
The Condensed Consolidated Statement Of Changes in Equity should be read in conjunction with the Audited Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H) Page 5 of 27
Condensed Consolidated Statement of Changes in Equity for the financial period ended 30 June 2014
Available-
Currency for- Cash Non-
Share Share translation Revaluation sale financial flow hedge Capital Capital* Retained controlling Total
capital premium reserve reserve assets reserves reserves reserves earnings Total interests equity
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
At 1 January 2014 304,506 2,039,770 (26,902) 1,219,271 83,338 176,150 9,163 379,103 3,031,644 7,216,043 2,998,046 10,214,089
At 30 June 2014 304,506 2,039,770 (4,332) 1,221,829 80,175 102,181 9,163 380,253 3,128,168 7,261,713 3,059,809 10,321,522
* - The distributable capital reserves represent mainly the net gain from disposals of investments.
MMC Corporation Berhad (30245-H) Page 6 of 27
Net cash (used in) / generated from financing activities (825,739) 765,249
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Audited
Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H) Page 7 of 27
Cash and cash equivalents at end of the financial period 877,263 4,302,543
877,263 4,302,543
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Audited
Financial Statements for the financial year ended 31 December 2014.
MMC Corporation Berhad (30245-H)_____ Page 8 of 27
1. Basis of preparation
The adoption of the above did not have any material impact on the
financial statements of the Group in the period of application.
2. Discontinued operation
30.6.2015 30.6.2014
RM mil RM mil
Revenue 2,043.9 2,704.2
Cost of sales (1,374.7) (1,918.2)
Gross profit 669.2 786.0
Other operating income 76.9 146.8
Administrative expenses (109.4) (120.3)
Operating expenses (63.5) (138.5)
Finance costs (320.0) (456.6)
Share of results of
associates/joint ventures 6.9 1.4
Profit before taxation 260.1 218.8
Tax expense (87.8) (66.9)
Profit for the financial period 172.3 151.9
3. Audit qualification
5. Unusual items
6. Changes in estimates
8. Dividend paid
9. Segment Reporting
The Group’s segmental reporting for the current financial period ended 30 June 2015 is as
follows:
Results
Profit /(loss)
before zakat 169 19 1,363* (13) 112 (220) 1,430 260 1,690
and taxation
Finance costs 80 - - - - 111 191 320 511
Depreciation and
Amortisation 139 - - 1 15 16 171 410 581
Earnings Before
Interest, Tax,
Depreciation
and 388 19 1,363 (12) 127 (93) 1,792 990 2,782
Amortisation
* Include a gain on disposal of a subsidiary and a fair value re-measurement in investment of RM388.8 million and RM955.4 million,
respectively.
MMC Corporation Berhad (30245-H)_____ Page 13 of 27
The Group’s segmental reporting for the corresponding financial period ended 30 June 2014 is as
follows:
Discontinued
Continuing Operation Operation
Investment
Holding,
Engineering Corporate
Ports & & & Energy &
Logistics Energy & Utilities Construction Others Total Utilities Total
Gas Utilities Energy
RM mil RM mil RM mil RM mil RM mil RM mil RM mil RM mil
Revenue
Total 805 - 49 991 256 2,101 2,704 4,805
Inter-segment (3) - - (75) - (78) - (78)
Results
Profit /(loss)
before zakat and 121 37 (2) 165 (194) 127 219 346
taxation
Finance costs 57 - - (1) 100 156 457 613
Depreciation and
Amortisation 121 - 3 3 15 142 497 639
Earnings Before
Interest, Tax,
Depreciation and
Amortisation 299 37 1 167 (79) 425 1,173 1,598
MMC Corporation Berhad (30245-H)_____ Page 14 of 27
At date of disposal
RM'000
30.6.15 31.12.14
RM mil RM mil
Subsidiaries 73.6 465.0
For the 6-month financial period ended 30 June 2015, the Group
recorded a decrease of 27.6% in revenue to RM3,423.9 million from
RM4,727.0 million reported in the corresponding period of the
preceding year. The decrease was mainly due to deconsolidation
of Malakoff’s results following its listing debut on Bursa
Malaysia on 15 May 2015 and lower work progress recorded from
Klang Valley Mass Rapid Transit (KVMRT) Sungai Buloh-Kajang (SBK)
Line project largely upon completion of tunnelling drive works
in April 2015.
The Group did not issue any profit forecast or profit guarantee
for the reporting period in a public document.
The Group’s effective tax rate for the cumulative six months ended
30 June 2015 excluding item relating to investment was higher than
the statutory income tax rate principally due to effect of non-
deductible expenses for tax purposes offset by recognition of
deferred tax income from investment tax allowance from port
business.
30.6.15 31.12.14
RM mil RM mil
At 1 January 84.5 95.5
Addition 2.6 -
Net gain/(losses) transferred to equity (6.0) (3.7)
Disposals - (7.3)
At 30.6.15/31.12.14 81.1 84.5
Less: Non-current portion (3.6) (3.6)
Current portion 77.5 80.9
23. Borrowings
30.6.15 31.12.14
RM mil RM mil
Current
- secured 478 1,223
- unsecured 339 447
817 1,670
Non-current
- secured 5,890 20,639
- unsecured 376 3,343
6,266 23,982
Cumulative Cumulative
3 months 3 months 6 months 6 months
ended ended ended ended
30.6.15 30.6.14 30.6.15 30.6.14
Profit for the financial
period attributable to
owners of the Parent
(RM mil) 1,349 165 1,445 189
Weighted average number
of ordinary shares
in issue (’mil) 3,045.1 3,045.1 3,045.1 3,045.1
Basic earnings
per ordinary share (sen) 44.32 5.43 47.46 6.21
Diluted earnings
per ordinary share (sen) 44.32 5.43 47.46 6.21
MMC Corporation Berhad (30245-H)_____ Page 27 of 27