ワイ・ティー・エル・コーポレーション・バーハッド（1773） – 2022年６月期第３四半期（2022年１月～2022年３月）決算短信

1. 2. 2022 年６月期第３四半期（2022 年１月～2022 年３月）決算短信 2022 年５月 27 日 社名 ワイ・ティー・エル・コーポレーション・バーハッド 会株式銘柄コード (1773) 本 店 所 在 地 マレーシア 55100 クアラルンプール ジャラン・ブキット・ビンタン 205 メナラ・ワイ・ティー・エル 33 階 属算所決問 い 合 せ 先 東京都千代田区大手町一丁目１－１ 部 東証プライム市場 期 本決算：年１回（６月） 中間決算：四半期ごと 大手町パークビルディング アンダーソン・毛利・友常法律事務所外国法共同事業 弁護士 森下 国彦 弁護士 古波藏 惇 弁護士 中田 和輝 電話 (03)6775-1000 四 半 期 報 告 書 提 出 予 定 日 2022 年６月 24 日 本国における決算発表日 2022 年５月 26 日（木曜日） 業績 第３四半期（2022 年１月から３月までの３ヶ月）（連結） 前期（未監査） 当期（未監査） 売 上 高 ま た は 営 業 収 入 純 利 益 （ 税 引 後 ） 一 株 当 り 利 益 6,170,650 千リンギット 828,670 千リンギット 3.78 セン 4,219,794 千リンギット 93,460 千リンギット 0.21 セン 売 上 高 ま た は 営 業 収 入 純 利 益 （ 税 引 後 ） 一 株 当 り 利 益 当期（未監査） 18,086,920 千リンギット 1,069,951 千リンギット 4.76 セン 今期累積額（2021 年７月から 2022 年３月までの９ヶ月） 前期（未監査） 12,990,321 千リンギット 227,608 千リンギット 0.37 セン 増減率 39.23％ 370.08％ － 増減率 46.23％ 786.66％ － 配当金の推移 前期 備 考 第 １ 四 半 期 第 ２ 四 半 期 第 ３ 四 半 期 第 ４ 四 半 期 計 合当期 ０セン ０セン ０セン ０セン 3. 概況・特記事項・その他 ０セン ０セン ０セン 2.5 セン 2.5 セン (1) 純利益（税引後）は法人税考慮後・少数株式持分損益考慮前利益に基づき算出されている。 (2) 上記１株当り利益は基本的利益である。希薄化後１株当り利益は、当期が 3.77 セン、前年同期が 0.21 センであった。今期累積額については、当期が 4.74 セン、前年同期が 0.37 センであった。これらの１株当り利益は法人税考慮後・少数株主持分考慮後利益に基づき算出している。 (3) 売上高または営業収入および純利益（税引後）の数値は百の位を四捨五入している。 YTL CORPORATION BERHADCompany No. (92647-H)Incorporated in MalaysiaInterim Financial Report31 March 2022YTL CORPORATION BERHADCompany No. 92647-H)Incorporated in MalaysiaInterim Financial Report31 March 2022Condensed Consolidated Income StatementCondensed Consolidated Statement of Comprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to the Interim Financial ReportPage No.123 – 45 – 67 – 910 – 32YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTInterim financial report on consolidated results for the financial period ended 31 March 2022.The figures have not been audited.CONDENSED CONSOLIDATED INCOME STATEMENT Individual QuarterCumulative QuarterCurrentYearQuarter31.03.2022RM’000Preceding YearCorrespondingQuarter31.03.2021RM’0009 Months Ended31.03.2022RM’00031.03.2021RM’0006,170,6504,219,79418,086,92012,990,321(5,411,428)(3,331,206)(15,524,773)(10,392,414)759,222888,5882,562,1472,597,907RevenueCost of salesGross profitOther operating income1,403,37678,1771,553,710258,669Other operating expenses(931,321)(503,660)(1,876,074)(1,458,968)Profit from operations1,231,277463,1052,239,7831,397,608Finance costs(396,996)(386,643)(1,162,134)(1,163,953)Share of results of associated companies and joint ventures118,202307,294294,707Profit before taxation194,6641,384,943528,362Taxation(88,949)(101,204)(314,992)(300,754)Profit for the period828,67093,4601,069,951227,608Attributable to:-Owners of the parentNon-controlling interestsProfit for the periodEarnings per shareBasic (Sen)Diluted (Sen)22,43071,030521,870548,08139,817187,79193,4601,069,951227,6080.210.214.764.740.370.3783,338917,619414,611414,059828,6703.783.77The Condensed Consolidated Income Statement should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEIndividual QuarterCumulative QuarterCurrent Preceding YearYear CorrespondingQuarter31.03.2021RM’000Quarter31.03.2022RM’0009 Months Ended31.03.2022RM’00031.03.2021RM’000Profit for the period828,67093,4601,069,951227,608Other comprehensive income/(loss) :-Items that will not be reclassified subsequently to income statement:- – financial assets at fair value through other comprehensive incomeItems that may be reclassified subsequently to income statement:- – foreign currency translation(5,909)203,359(78,332)225,061(14,959)(46,958)(36,996)(90,437) – cash flow hedges541,925145,733297,156347,321 – share of other comprehensive income/ (loss) of associated company(3,208)(698)16,416 – foreign currency translation294,378(20,114)370,8028,81056,591Other comprehensive income for the period, net of taxTotal comprehensive income for the periodAttributable to :-Owners of the parentNon-controlling interestsTotal comprehensive income for the period586,458593,304161,016869,1631,415,128686,7641,230,9671,096,771767,833647,295346,251340,513625,779605,188531,111565,6601,415,128686,7641,230,9671,096,771The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statement.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONASSETSNon-current AssetsProperty, plant and equipmentRight of use assetsInvestment propertiesInvestment in associated companies and joint venturesInvestmentsDevelopment expenditureIntangible assetsTrade, other receivables and contract assetsDerivative financial instrumentsCurrent AssetsInventoriesProperty development costsTrade, other receivables and contract assetsDerivative financial instrumentsIncome tax assetsInvestmentsAmount due from related partiesFixed depositsCash and bank balancesTOTAL ASSETSUnauditedAs at31.03.2022RM’00031,515,1381,622,2472,737,7863,745,396360,7881,019,4748,483,0952,063,71933,48751,581,1301,121,453277,1204,741,394543,814191,9441,422,24793,12210,665,3122,104,77221,161,17872,742,308AuditedAs at30.06.2021RM’00032,120,3181,712,5171,976,4984,405,122305,7181,067,4288,500,0751,812,18226,46151,926,3191,136,927232,2493,924,362263,719134,9792,473,45492,91011,522,7762,155,87121,937,24773,863,566The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION – continuedEQUITY AND LIABILITIESShare capitalOther reservesRetained profitsLess : Treasury shares, at costEquity Attributable to Owners of the ParentNon-Controlling InterestsTotal EquityNon-current liabilitiesLong term payables and other contract liabilitiesBonds & borrowingsLease liabilitiesGrants and contributionsDeferred tax liabilitiesPost-employment benefit obligationsProvision for liabilities and chargesDerivative financial instrumentsCurrent LiabilitiesTrade, other payables and other contract liabilitiesDerivative financial instrumentsAmount due to related partiesBonds & borrowingsLease liabilitiesIncome tax liabilitiesProvision for liabilities and chargesTOTAL LIABILITIESTOTAL EQUITY AND LIABILITIESNet Assets per share (RM)UnauditedAs at31.03.2022RM’0003,467,5551,014,9748,216,934(54,452)12,645,0114,649,41117,294,4221,554,89431,959,2791,286,514681,5323,102,241396,11831,6832,65639,014,9175,516,53491,27733,04910,412,53696,016158,610124,94716,432,96955,447,88672,742,3081.15AuditedAs at30.06.2021RM’0003,467,555892,3998,482,982(54,451)12,788,4853,549,47616,337,9611,496,59935,410,5471,303,867661,6143,060,349481,68227,75271342,443,1234,878,04134,07438,4119,663,896180,091159,692128,27715,082,48257,525,60573,863,5661.17The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE FINANCIAL PERIOD ENDED 31 MARCH 2022The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE FINANCIAL PERIOD ENDED 31 MARCH 2021The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE FINANCIAL PERIOD ENDED 31 MARCH 2022Cash flows from operating activitiesProfit before taxAdjustment for :-Adjustment on fair value of investment propertiesAmortisation of contract costsAmortisation of deferred incomeAmortisation of grants and contributionsAmortisation of intangible assetsDepreciation of property, plant and equipmentDepreciation of right-of-use assetsDividend incomeFair value changes of financial assetsImpairment lossInterest expenseInterest incomeNet gain on disposal of property, plant and equipmentNet gain on disposal of subsidiary/associated companiesProperty, plant and equipment written offProvision for liabilities and chargesProvision for post-employment benefitsShare option expensesShare of results of associated companies and joint venturesUnrealised loss on foreign exchangeOther non cash items9 Months Ended31.03.2022 RM’000 31.03.2021 RM’000 1,384,943528,362(2,781)1,260(15,018)(4,005)22,7651,220,641136,356(2,699)81,955291,5421,162,134(127,271)(49,512)(1,322,973)9,5063,00039,6621,267(307,294)43,97984-2,502(4,113)(12,953)54,0651,228,451130,192(18,338)18,8382,2371,163,953(128,266)(13,000)-3,272(3,506)35,8893,490(294,707)49,491(2,713)Operating profit before changes in working capital2,567,5412,743,146The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE FINANCIAL PERIOD ENDED 31 MARCH 2022 – continuedChanges in working capital:-InventoriesProperty development costsReceivables, deposits and prepaymentsPayables and accrued expensesRelated parties balancesCash generated from operationsDividend receivedInterest paidInterest receivedPayment to a retirement benefits schemeIncome tax paidCash flows from investing activitiesAcquisition of subsidiariesAdditional investment in associated companyDevelopment expenditure incurredGrants received in respect of infrastructure assetsNet increase in deposits maturing more than 90 daysNet withdrawals/(placement) of income fundsProceeds from disposal of property, plant & equipmentProceeds from disposal of investmentsProceeds from disposal of investment in subsidiary/associates Proceeds from finance lease receivablesPurchase of intangible assetsPurchase of investment propertiesPurchase of investmentsPurchase of property, plant & equipmentPurchase of right-of-use assetsShareholder loans9 Months Ended31.03.2022 RM’000 31.03.2021 RM’000 (36,093)2,000(934,698)941,359(5,574)2,534,535399,324(1,109,667)126,843(122,899)(231,417)(51,321)(12,036)(7,923)24,439-953,10294,2802,5181,977,1553,653(35,278)(18,118)(55,469)(1,604,163)(2,930)(366,807)40,835(28,649)(762,910)1,216,069(13,716)3,194,775394,245(939,902)100,805(119,608)(152,947)(276)(23,984)(14,169)69,431(1,052,851)(371,958)37,7004,480-3,589(97)-(24,457)(1,425,701)(7,613)(62,205)Net cash from operating activities1,596,7192,477,368Net cash from/(used in) investing activities901,102(2,868,111)The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTCONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE FINANCIAL PERIOD ENDED 31 MARCH 2022 – continuedCash flows from financing activitie sDividend paidDividend paid to non-controlling interests by subsidiariesRepurchase of own shares by the company (at net)Repurchase of subsidiaries’ shares by subsidiariesProceeds from bondsProceeds from borrowings Capital repayment by a subsidiaryRepayment of bondsRepayment of borrowingsRepayment of lease liabilities9 Months Ende d31.03.2022 RM’000 31.03.2021 RM’000 (274,102)(257,201)(1)(1)-1,556,289(1,960)(2,003,880)(2,105,868)(202,783)-(167,825)(30,313)(38,047)2,385,0801,030,057–(2,380,654)(272,349)Ne t cash (used in)/from financing activities(3,289,507)525,949Net changes in cash and cash equivalents(791,686)135,206Effects of exchange rate changes(90,826)258,778Cash and cash equivalents at beginning of the financial year13,652,59611,100,066Cash and cash equivalents at end of the financial period12,770,08411,494,050Cash and cash e quivalent comprise :-Fixed deposit with licensed bankCash and bank balancesDeposits with maturity 90 days and moreBank overdraft10,665,3122,104,772–12,770,08411,080,0332,069,757(1,655,697)(43)11,494,050The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited annual financial statements for the year ended 30 June 2021 and the accompanying explanatory notes attached to the interim financial statements.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes:-Disclosure requirements pursuant to MFRS 134The Condensed consolidated interim financial statements should be read in conjunction with the audited financial statements of the Group for the year ended 30 June 2021.A1.Accounting Policies and Methods of ComputationThe interim financial report is unaudited and has been prepared in accordance with Malaysian Financial Reporting Standard (“MFRS”) 134: “Interim Financial Reporting” and Chapter 9, part K paragraph 9.22 of the Main Market Listing Requirements of the Bursa Malaysia Securities Berhad (“Bursa Securities”). The explanatory notes contained herein provide an explanation of the events and transactions that are significant to the understanding of the changes in the financial position and performance of the Group since the financial year ended 30 June 2021.The accounting policies and methods of computations adopted by the Group in this interim financial report are consistent with those adopted in the annual audited financial statements for the financial year ended 30 June 2021.The amendments to MFRSs which were effective for financial year beginning on or after 1 July 2021 do not have significant financial impact to the Group.A2.Seasonality or Cyclicality of OperationsThe business operations of the Group are not materially affected by any seasonal or cyclical factors.A3.Disaggregation of revenueIndividual QuarterCumulative QuarterCurrent Preceding YearYear CorrespondingQuarter31.03.2021RM’000Quarter31.03.2022RM’0009 Months Ended31.03.2022RM’00031.03.2021RM’0003,321,0411,427,0359,056,7334,277,4531,010,55359,453123,84572,6134,587,505909,08644,766151,53658,6312,591,0543,078,290169,960550,369207,37913,062,7312,717,717132,288344,772146,7577,618,987UtilitiesSale of electricitySale of clean water, treatment and disposal of waste waterSale of steamBroadband and telecommunicationsOthersYTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA3.Disaggregation of revenue – continuedIndividual QuarterCumulative QuarterCurrent Preceding YearYear CorrespondingQuarter31.03.2021RM’000Quarter31.03.2022RM’0009 Months Ended31.03.2022RM’00031.03.2021RM’0001,030,24616,4851,046,7311,028,2144,5371,032,7512,802,86028,4842,831,3443,231,65314,2283,245,881228,538345,794874,5051,349,354154,6063,055157,661103,6311,340104,971455,8889,574465,4622,39271,345402,29111,850487,87879,21351,5404,8052,56329,953168,074123,54970,8582,519196,926311,5375,986317,523-72,50826,50111,070110,07973,68149,5182,8312,66820,963149,661104,50576,52817,803198,836-23,461-3,68927,15025,35216,4423139696,21349,28936,82127,6624,30268,7852,39215,955-4,26422,61128,18818,1102,46769810,27359,73646,97020,15174767,868Cement and building materials industrySale of cement and related productsOthersConstructionConstruction contracts revenueHotel operationsHotel room and food and beveragesOthersPropertySale of development propertiesSale of completed propertiesSale of landsOthersManagement services & othersOperation and maintenance servicesProperty manager feesFood and beverages operationsMedia and advertising servicesOthersOther sourcesRental incomeInterest incomeDividend incomeTotal revenue6,170,6504,219,79418,086,92012,990,321A4.Exceptional or Unusual ItemsDuring the current financial quarter, there was no item of an exceptional or unusual in nature that affects the assets, liabilities, equity, net income or cash flows of the Group.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA5.Changes in estimates of amounts reported There was no significant change in estimates of amounts reported in prior interim periods or prior financial years.A6.Changes in Debt and Equity SecuritiesThere was no issuance, cancellation, repurchase, resale and repayment of debts and equity securities except for the following:-During the current financial quarter and financial period to date, the Company repurchased 1,000 ordinary shares from the open market for a total consideration of RM639. The share buyback transactions were financed by internally generated funds. The shares purchased are held as treasury shares in accordance with Section 127(6) of the Companies Act 2016.As at 31 March 2022, the number of treasury shares held was 58,674,950 ordinary shares. A7.Dividend paidThere following dividend payment was made during the financial period ended 31 March 2022:In respect of the financial year ended 30 June 2021:-An interim dividend of 2.5 sen per ordinary share paid on12 October 2021RM’000274,102A8.Segmental Information The Group has six reportable segments as described below:ConstructionCement and building materials industryProperty investment & development(a)(b)(c)(d) Management services & others(e)(f)Hotel operationsUtilitiesManagement monitors the operating results of business segments separately for the purpose of making decisions about resources to be allocated and of assessing performance.There were changes to the Information technology & e-commerce related business segment after the financial year ended 30 June 2021 as this segment does not meet the quantitative thresholds required by MFRS 8 for the reportable segment. Management has concluded that this segment should be amalgamated into Management services & other segments. Comparatives have been restated to conform to the revised reportable segment.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA8.Segment Information – continuedInter-segment pricing is determined based on a negotiated basis. The Group’s segmental result for the financial period ended 31 March 2022 is as follows:-* Included a fair value loss of RM79.2 million and impairment loss of RM291.5 million.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA8.Segment Information – continuedInter-segment pricing is determined based on a negotiated basis.The Group’s segmental result for the financial period ended 31 March 2021 is as follows:-* Included a fair value loss of RM18.8 million and impairment loss of RM2.2 million.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA9.Changes in the Composition of the GroupThere were no significant changes in the composition of the Group for the current financial period ended 31 March 2022, including business combinations, acquisition or disposal of subsidiaries and long-term investments, restructurings and discontinuing operations except for the following:-On 17 August 2021, Business & Budget Hotels (Seberang Jaya) Sdn Bhd, an indirect subsidiary of the Company, which is inactive and has no intention to carry on business or operations in the future, commenced member’s voluntary winding-up pursuant to Section 439(1)(b) of the Companies Act, 2016.On 17 August 2021, Extiva Communications Sdn Bhd, an indirect subsidiary of YTL Power International Berhad (“YTL Power”), which is inactive and has no intention to carry on business or operations in the future, commenced member’s voluntary winding-uppursuant to Section 439(1)(b) of the Companies Act, 2016.On 21 September 2021, Malayan Cement Berhad (“MCB”) completed the acquisition of the entire equity interest of 10 companies and their respective subsidiaries which are involved in cement and ready-mixed concrete businesses in Malaysia from its immediate holding company, YTL Cement Berhad for a total consideration of RM5,159 million (“Acquisition”).Following the Acquisition, the 10 companies and their respective subsidiaries have become wholly-owned subsidiaries of MCB and remain indirect subsidiaries of the Company.On 8 October 2021, YTL Seraya Limited, an indirect subsidiary of YTL Power, incorporated a wholly-owned subsidiary known as YTL Data Center Holdings Pte Ltd(“YTL Data Center”) with an issued share capital of SGD1.00 comprising 1 ordinary share. YTL Data Center will be principally involved in investment holding in companies that will own and operate data centers.On 8 October 2021, YTL Data Center incorporated a wholly-owned subsidiary known as YTL DC No. 1 Pte Ltd (“YTLDC1”) with an issued share capital of SGD1.00 comprising 1 ordinary share. YTLDC1 will be principally involved in investment holding in companies that will own and operate data centers.On 12 October 2021 and 25 October 2021, YTLDC1 subcribed for 1 ordinary share and 18,250,000 ordinary shares respectively, representing 50% of the issued and paid-up share capital of AP1 Pte. Ltd. (“AP1”) for a total consideration of SGD18,250,001.00. AP1 was incorporated in Singapore on 1 October 2021 and presently has an issued and paid-up share capital of SGD36,500,002.00 comprising 36,500,002 ordinary shares. AP1 is principally involved in investment holding and lease or sub-lease of real estate property.On 12 November 2021, Niche Retailing Sdn Bhd, an indirect wholly-owned subsidiary of the Company, incorporated a wholly-owned subsidiary known as PP Refined Venture Sdn Bhd (“PPRV”) with an issued share capital of RM1.00 comprising 1 ordinary share. PPRV will be principally involved in retailing of fashion apparels and related accessories.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA9.Changes in the Composition of the Group – continuedOn 12 November 2021, YTL Hotel and Properties Sdn Bhd (“YTLHP”), a wholly-owned subsidiary of the Company, acquired 7,500 ordinary shares of GBP1 each, representing the entire issued share capital in Bath Colonnade Properties Limited(The) (“Bath Colonnade”). As a result of the acquisition, Bath Colonnade became a wholly-owned subsidiary of YTLHP and an indirect subsidiary of the Company. Bath Colonnade is principally involved in letting of premises.The following indirect subsidiaries of MCB, which have been placed under member’s voluntary winding-up pursuant to Section 439(1)(b) of the Companies Act, 2016, had on 5 January 2022 lodged the Return by Liquidator relating to Final Meeting (“Return on Final Meeting”) with Companies Commission of Malaysia:(i)(ii)Probuilders Centre Sdn Bhd (“Probuilders”); and Lafarge Concrete (East Malaysia) Sdn Bhd (“LCEM”).Following the lodgement of the Return on Final Meeting, Probuilders and LCEM were officially dissolved on 5 April 2022 and ceased to be indirect subsidiaries of MCB and the Company.On 5 January 2022, Wessex Water Limited, a wholly-owned subsidiary of YTL Power, incorporated a wholly-owned subsidiary known as EnTrade Ltd (“EnTrade”) with an issued share capital of GBP1.00 comprising 1 ordinary share of GBP1.00 each. EnTrade will be principally involved in environmental consultancy.On 28 January 2022, YTL Data Center incorporated a wholly-owned subsidiary known as YTL DC South Sdn Bhd (“YTLDCS”) with an issued share capital of RM1.00 comprising 1 ordinary share. YTLDCS will be principally involved in investment holding.On 14 February 2022, YTL Power incorporated a wholly-owned subsidiary known as YTL RE Holdings Sdn Bhd (“YTLRE”) with an issued share capital of RM1.00 comprising 1 ordinary share. YTLRE will be principally involved in investment holding.On 23 February 2022, YTLRE incorporated a wholly-owned subsidiary known as YTL Southern Solar Sdn Bhd (“YTLSS”) with an issued capital of RM1.00 comprising 1 ordinary share. YTLSS will be principally involved in:Investment holding; Development, commissioning, operation and maintenance of solar photovoltaic power plant and transmission infrastructure and generation of electricity from green energy sources. YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA9.Changes in the Composition of the Group – continuedOn 4 March 2022, YTL Renewables Pte. Ltd. (“YTL Renewables”) was incorporated in Singapore as a wholly-owned subsidiary of YTLSS with an issued and paid-up share capital of SGD1.00 comprising 1 ordinary share. YTL Renewables is principally involved in transmission, distribution and sale of electricity, engineering design and consultancy services in energy management and clean energy system.On 8 March 2022, Wessex Water Limited (“Wessex Water”), an indirect wholly-owned subsidiary of YTL Power disposed of its 100% equity interest, comprising 100 ordinary shares of GBP0.01 each, in Albion Water Limited (“Albion Water”) for a consideration of GBP3.7 million. Consequent thereto, Albion Water ceased to be an indirect subsidiary of YTL Power and the Company.On 21 March 2022, YTL Digital Payments Sdn. Bhd. (“YTL Digital Payments”) was incorporated as a wholly-owned subsidiary of YTL Power with an issued and paid-up share capital of RM1.00 comprising 1 ordinary share. YTL Digital Payments will be principally involved in the processing of digital payments via e-money platform.A10. Changes in Contingent Liabilities or Contingent Assets There were no significant changes in the contingent liabilities of the Group since the last financial year ended 30 June 2021.A11.Subsequent EventsSave for the following, there were no items, transactions or events of material or unusual in nature during the period from the end of the quarter under review to the date of this report:-On 18 April 2022, YTL Communications Sdn Bhd, a subsidiary of YTL Power, acquired the remaining 1,000,000 ordinary shares in YTL Broadband Sdn Bhd (“YTL Broadband”), representing 20% of the issued share capital in YTL Broadband from Mr Ang Meng Hee, for a consideration of RM1,000,000.00. As a result, YTL Broadband became an indirect wholly-owned subsidiary of YTL Power and the Company.On 26 April 2022, the following companies, all indirect subsidiaries of YTL Power, have been struck-off from the register of UK Companies House and ceased to be indirect subsidiaries of YTL Power and the Company:(i)(ii)YTL Arena (Filton) LimitedEnterprise Laundry Services LimitedOn 9 May 2022, M Hotel Management Pte Ltd, a subsidiary of YTL Hotels (Cayman) Limited, which in turn a wholly-subsidiary of YTL Hotels & Properties Sdn Bhd (“YTLHP”), has been struck-off from the register of the Accounting and Corporate Regulatory Authority, Singapore and ceased to be an indirect subsidiary of the Company.On 24 May 2022, Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (“SPYTL”), a wholly-owned subsidiary of the Company, acquired the remaining 30 ordinary shares in YTL THP JV (“YTL THP”), representing 30% of the issued share capital in YTL THP from TH Properties Sdn Bhd, for a consideration of RM1.00. As a result, YTL THP became an indirect wholly-owned subsidiary of SPTYL and the Company.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedA12.Fair value measurementThe Group measures fair value using the following fair value hierarchy that reflects the significance of the input used in making the measurements:(a)Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities.(b)Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). (c)Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).The following table presents the Group’s assets and liabilities that are measured at fair value as at:-Level 1RM’000Level 2RM’000Level 3RM’000TotalRM’00031 March 2022AssetsFinancial assets at fair value through profit and loss – Trading derivatives – Income/equity funds – Equity investmentsDerivative used for hedging Financial assets at fair value through other comprehensive incomeLiabilitiesFinancial liabilities at fair value through profit and loss – Trading derivativesDerivative used for hedging –15,427-6111,452,54989,965576,6906111,452,549105,392576,69014,46529,892462,119,861210,583210,583225,0942,360,336—47993,45493,93347993,45493,933——-[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedB1.Review of PerformanceDisclosure requirements per Part A of Appendix 9B of the Bursa Securities Main Market Listing RequirementsIndividual QuarterVarianceCumulative QuarterVariance31.03.2022 31.03.2021% 31.03.202231.03.2021RM’000RM’000+/-RM’000RM’000%+/–35%-13%158%14%50%71%-70%-51%297%432%48%-12%Cement and building materials industry1,046,7311,033,1611%2,831,3443,247,155228,538345,794-34%874,5051,349,354 Revenue Construction Hotels Utilities Property investment & development Management services & others Profit/(loss) before taxation Construction Cement and building materials industryProperty investment & developmentManagement services & others Hotels Utilities 51,68095,35270,50275,389160,844103,894-27%26%55%575,474268,012474,854223,194235,185316,4464,587,5052,591,05477% 13,062,7317,618,9876,170,6504,219,79418,086,92012,990,3218,01352,561(39,010)794,360(32,358)134,053917,61973,90378,357(15,576)(67,175)(60,484)185,639194,664-89%-33%-150%1283%47%-28%51,956148,140247,480574,759174,822301,308(125,705)(173,059)(77,090)(148,743)439,6981,384,943499,739528,362For the current financial quarter under review, the Group revenue was RM6,170.7 million as compared to RM4,219.8 million, recorded in the preceding year corresponding quarter. The Group recorded a profit before tax of RM917.6 million for the current financial quarter. This represents an increase of RM723.0 million or 371.4% as compared to a profit of RM194.7 million recorded in the preceding year corresponding quarter.For the current financial period under review, the Group revenue was at RM18,086.9 million as compared to RM12,990.3 million recorded in the preceding year corresponding period. The Group profit before taxation for the current financial period stood at RM1,384.9 million. This represents an increase of RM856.6 million or 162.1% as compared to a profit of RM528.4 million recorded in the preceding year corresponding period.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedThe Group has continued to manage and mitigate, where possible, the unprecedented disruptions brought about since the outbreak of the global COVID-19 pandemic. The ongoing effects of the COVID-19 pandemic on the performance of the respective operating business segments for the financial quarter/period ended 31 March 2022 as compared to the preceding year corresponding quarter/period have been included in the following analysis: ConstructionFor the current financial quarter/period under review, the decrease in revenue and profit before tax was principally due to the decrease in construction works and higher construction costincurred.Cement and building materials industryFor the current financial quarter under review, the marginal increase in revenue was mainly attributed to price increases in domestic and Vietnam markets. The reduction in profit before tax was mainly attributed to the increase in cost of fuel, raw materials, logistics and maintenance.For the current financial period under review, the decrease in revenue and profit before tax was significantly due to the impact of the COVID-19 pandemic in the domestic and Vietnam markets coupled with the absence of contribution from China division following the disposal of the cement plant in China.Property investment & development For the current financial quarter under review, the revenue approximated that of the preceding year corresponding quarter (after adjusting for revenue of approximately RM18.5 million recorded by a project that the Group divested). However, the increase in loss before tax was mainly due to the absence of unrealised foreign exchange gain recorded by YTL Land & Development Berhad and fair value loss on unbilled lease income recognised by YTL Hospitality REIT.For the current financial period under review, the significant increase in revenue was primarily attributable to sales recorded under the Brabazon project undertaken by YTL Property Holdings (UK) Ltd. and the sale of lands by Satria Sewira Sdn. Bhd. and Emerald Hectares Sdn. Bhd.. The increase in profit before tax was contributed by the Brabazon project and higher share of profits from Starhill Global Real Investment Trust.Management services & others For the current financial quarter/period under review, the increase in revenue was mainly due to higher rental income. The significant increase in profit before tax was principally attributable to the one-off gain following the disposal of the investment in ElectraNet Pty. Ltd. and was partially offset by an allowance for impairment of project development costs and goodwill, coupled with contribution to a corporate social responsibility programme.HotelsFor the current financial quarter/period under review, the increase in revenue and reduction in loss before tax recorded were mainly attributable to better performances of our hotels and resorts following the easing of movement restrictions in the United Kingdom and Malaysia.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedUtilitiesFor the current financial quarter under review, the performance of the divisions within the Utilities segment is set out below:-• Multi utilities business (Merchant) division recorded higher revenue primarily due to the higher pool and fuel oil price. However, the increase in profit before taxation was mainly due to the higher pool gains and retail margin.• Water & sewerage division recorded higher revenue was primarily from new contracts awarded in the non-household retail market. The lower profit before taxation was mainly due to seasonality impacts on water supply and waste treatment revenues.For Telecommunications division, lower revenue and higher loss before tax were recorded mainly due to lower project revenues.For Power Generation (Contracted) division, no revenue was recorded following the expiry of the extended power purchase agreement for the Paka Power Station on 30 June 2021. Overheads and depreciation charges contributed to the loss recorded.For the current financial period under review, performance of the respective operating business divisions was consistent with the notes mentioned above with the exception of the Multi utilities business (Merchant) and Telecommunications business divisions:• Multi utilities business (Merchant) division recorded higher revenue primarily due to the higher pool and fuel oil price, whilst profit before tax approximated that of the preceding year corresponding period.Telecommunications business division recorded higher revenue and the reduction in loss before taxation was mainly due to growth in subscriber base resulting from affordable data plans bolstered by partnerships and collaborations.•••[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB2.Comparison with Preceding QuarterRevenueProfit before taxationProfit after taxationCurrentQuarter31.03.2022RM’0006,170,650917,619828,670PrecedingQuarter31.12.2021RM’0006,851,673141,90063,276Variance%+/–10%547%1210%The higher profit before taxation as compared to the preceding quarter was principally attributable to the one-off gain following the disposal of the investment in ElectraNet by theUtilities division.B3.Audit Report of the preceding financial year ended 30 June 2021The Auditors’ Report on the financial statements of the financial year ended 30 June 2021 did not contain any qualification. B4.ProspectsGlobally, businesses have continued to face unprecedented social and economic challenges brought about by the outbreak of the global COVID-19 pandemic. Countries where the Group operates implemented various movement control regulations and laws and limited the operation of non-essential services. To date, many of these jurisdictions progressed well with vaccine roll-out programmes and subsequent vaccine booster programmes seen as necessary to bring the pandemic under control and return to normalcy. Although the outlook in terms of pandemic-containment is still uncertain, with the emergence of new variants an ongoing concern, the Group’s businesses have been cushioned by its Utilities segment which has largely not been affected by the various controls to date, and is expected to continue to operate as usual due to the essential nature of the services it provides.ConstructionWith the economic activities moving back to normalcy, management has been proactive in taking actions to ensure construction work-in-progress is on track and to replenish its order book. This segment is expected to contribute positively based on its current order book.Cement and building materials industry The economy is expected to strengthen in the second half of the calendar year as the country transitions into the endemic phase of COVID-19. In line with the wider economic activities and more favourable external and internal demand, the construction sector is also on the path to recovery on the back of the revival and acceleration of major infrastructure projects and affordable housing projects. The positive outlook of the construction sector may, however be impacted by higher input prices, rising logistics costs and geopolitical uncertainties which may have a knock-on effect on cement demand.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB4.Prospects – continuedProperty investment & development The property sector is expected to see modest recovery in line with returning consumer confidence as most economic sectors rebound, supported by measures announced to fosterrecovery of the property market, such as the Home Ownership Campaign Programme. Notwithstanding, the Group will continue to review the sales and marketing strategies to improve its visibility, propel sales momentum as well as undertake project launches.Management services & others/Hotels The short-term outlook for the hospitality industry remains challenging amidst the COVID-19 pandemic. Some countries where we operate are resetting their expectations and transit from a zero tolerance to a containment approach to the COVID-19 virus amid fresh threats from the variants. The reopening of domestic and international borders with the relaxation of quarantine measures is set to revive tourism and keep economic recovery on track to rebound this year. However, prospects remain cautiously optimistic.The Group is continuously taking steps to proactively manage the business and take necessary actions to ensure that the Group’s long-term business prospects remain stable. Notwithstanding the short term challenges, the Group remains confident of the long term prospects of the hospitality sector.UtilitiesMulti utilities business (Merchant)In October 2021, YTL PowerSeraya Pte Limited was appointed as the electricity importer for a two-year trial to import 100MW of electricity from Malaysia via existing interconnectors, following a Request for Proposal process held in March 2021 by the Energy Market Authority of Singapore (“EMA”). As the appointed electricity importer, YTL PowerSeraya will work with the EMA to refine all technical settings and regulatory arrangements under Singapore’s Electricity Import Framework during this two-year trialand import will commence upon the receipt of the requisite approvals..The proposed acquisition of Tuaspring announced on 12 March 2020 which is currently pending completion is a logical extension of the Group’s existing multi utilities operations. The power plant and associated assets of Tuaspring, which is the newest combined cycle power plant in Singapore, will, upon completion, be integrated into existing businesses and expected to contribute positively to the future earnings of the Group. The proposed acquisition was approved by the EMA in May 2020; completion is now conditional on the completion of financing.As power generation is an essential service, electricity demand is expected to remain stable. This segment will continue to focus on customer service and diversification beyond the core business into integrated multi-utilities supply.Water & sewerageAs for the Water & Sewerage division, Wessex Water reaches the end of the second year of its Price Review (“PR19”), it continues to work towards delivering the investment commitments agreed with the regulator. By the end of the Price Review period on 31 March 2025, Wessex Water will have delivered RM7.2 billion (GBP1.3 billion) of capital investment with a resulting RAB value in excess of RM21.5 billion (GBP3.9 billion). Wessex Water continues to explore low risk opportunities for organic growth within the wider UK group.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB4.Prospects – continuedTelecommunications businessIn December 2021, together with Digital Nasional Bhd’s pilot launch of Malaysia’s 5G wholesale services in the Klang Valley, YTL Communications launched its 5G services, becoming the first telco in Malaysia to offer 5G access to its customers. The Group’s YES #FirstTo5G Plans which currently provides unlimited 5G data, enables users to experience the fifth generation of wireless mobile technology, delivering higher data speed, ultra-low latency, more reliable coverage, massive network capacity and a more uniform user experience to users. YTL Communications expects to extend its 5G services to the rest of the country in tandem with the rollout of Digital Nasional Bhd’s 5G network.The 5G roll-out is in line with Jalinan Digital Negara (“JENDELA”), the plan to upgrade Malaysia’s digital communications infrastructure formulated by the Government and the Malaysian Communications and Multimedia Commission launched in August 2020. Initial phases of the plan focused on expanding 4G mobile broadband coverage and increasing broadband speeds, with the anticipated shutting down of 3G by the end of 2021. As such, YTL Communications’ pure-4G YES network, coupled with its First-to-5G access, is well positioned to continue to attract subscribers and meet the country’s digital infrastructure needs. YTL Communications has recently been awarded part of the JENDELA Phase 1 (Part 2) project for the design, supply, installation, testing, commissioning, operation of the network service equipment and services related to the provisioning of public cellular services.In response to the COVID-19 pandemic, YTL Communications and FrogAsia in collaboration with YTL Foundation, a charitable foundation funded principally by the YTL Group, launched the Learn from Home Initiative in March 2020 to enable students to learn from home. Under the initiative, YTL Foundation provided, among others, free YES SIM cards with 40GB of data to students registered in government schools andpartner tertiary education institutions. The data plans provided under the initiative have been extended to 31 August 2022 to help ease the transition back to physical classes as schools have adopted hybrid teaching models. The initiative has also been extended to cater for the 2021/2022 intake of university and polytechnic students.to offer free YTL Communications again collaborated with YTL Foundation smartphones and 12-month data plans to the households and individuals under the Jaringan Prihatin programme. The programme, launched on 5 May 2021 by the Government of Malaysia provides subsidies of RM300 to B40 households and RM180 to B40 individuals for device and data plans offered by participating service providers. Registrations for the programme closed on 30 September 2021 but YTL Communications will continue to provide the data plans under the programme until September 2022.By offering affordable data plans and offering innovative 5G services, this segment is looking to increase its subscriber base bolstered by partnerships and collaborations.Power generation (Contracted)The Group completed the acquisition of the Kulai Young Estate in Johor in January 2022 and intends to develop the land into a large scale solar power facility with a generation capacity of up to 500MW. This is in line with the Group’s shift towards investing in more sustainable, renewable energy solutions moving forward.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB4.Prospects – continuedInvestment holding activitiesThe Group is developing the YTL Green Data Center Park in Kulai, Johor, which will be the first data center campus in Malaysia to be powered by on-site renewable solar energy. To date, the Group has partnered with Shopee as a co-locator and Chinese data center developer, GDS Holdings Limited, one of the largest data center companies, to anchor the initial phases of this world-class green facility. The campus will incorporate innovative and sustainable solutions in design and operations to achieve high-energy efficiency and is expected to serve a growing demand in the region for eco-friendly, cost-efficient data center solutions from hyperscalers and co-location customers alike.In April 2022, the Group’s consortium with Sea Limited was awarded a digital banking licence by Bank Negara Malaysia. This new venture, which will also create and leverage synergies between YTL Communications and Sea Limited’s Shopee e-commerce platform, will enable the Group to further contribute to the growth of Malaysia’s digital transformation efforts and broaden access to financial services, including the underserved and underbanked, as well as micro, small and medium enterprises (MSMEs) in Malaysia.Despite the challenging outlook, the Group expects the performance of its business segments to remain resilient as these segments’ operations are substantially essential in nature. The Group will continue to closely monitor the related risks and impact on all business segments.B5.Profit ForecastThe Group did not issue any profit forecast or profit guarantee for the current financial quarter.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB6.Profit for the periodProfit for the period is stated after charging/(crediting):Adjustment on fair value of investment propertiesAllowance for impairment of inventoriesAllowance for impairment of property development costsAllowance for impairment of receivables – net of reversalAmortisation of contract costsAmortisation of deferred income(Write back)/Amortisation of grants and contributions(Write back)/Amortisation of intangible assetsDepreciation of property, plant and equipmentDepreciation of right-of-use assetsDividend incomeFair value changes of financial assetsLoss on foreign exchangeInterest expenseInterest incomeNet gain on disposal of property, plant and equipmentNet gain on disposal of subsidiary/associated companiesProperty, plant and equipment written offCurrentQuarter31.03.2022RM’000PeriodTo Date31.03.2022RM’000(790)906124,22538,003340(15,018)2,518(12,692)391,45649,523(747)79,01730,604396,996(13,517)(6,620)(1,322,973)304(2,781)2,565124,22579,8741,260(15,018)(4,005)22,7651,220,641136,356(2,699)81,95561,9661,162,134(56,413)(49,512)(1,322,973)9,506Other than the above items, there were no other investment income, write off of receivables, gain or loss on disposal of properties, impairment of assets and exceptional items for the current financial quarter and financial period.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB7.TaxationTaxation comprise the following:-In respect of current period – Income tax – Deferred taxCurrentQuarter31.03.2022RM’000PeriodTo Date31.03.2022RM’00051,07637,87388,949225,53789,455314,992The lower effective tax rate of the Group as compared to the Malaysian statutory income tax rate for the current financial quarter and financial period to date was mainly due to income subjected to different tax jurisdictions and partially offset by non-deductibility of certain expenses for tax purposes.B8.Corporate DevelopmentsCorporate Proposals Announced and Pending CompletionAs at the date of this report, being the latest practicable date, there are no corporate proposals announced and pending completion, save for the following:-.On 12 March 2020, YTL Power and Taser Power Pte. Ltd., entered into a put and call option agreement with Tuaspring Pte. Ltd. (“Tuaspring”) for the proposed acquisition of the power plant and associated assets of Tuaspring by YTL PowerSeraya Pte. Limited, from the receivers and managers of Tuaspring, for a total purchase consideration of SGD331,452,000 to be settled as to SGD230,000,000 in cash and SGD101,452,000 comprising ordinary shares and loan notes amounting to 7.54% of the post-acquisition equity in YTL Utilities (S) Pte. Limited, the immediate holding company of YTL PowerSeraya Pte. Limited.Approvals/consents for the proposed acquisition have been received from the Energy Market Authority of Singapore and the Public Utilities Board of Singapore. Completion is now conditional inter alia on the completion of financing arrangements, which is currently pending.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB9.Group Borrowings and Debt SecuritiesThe Group’s borrowings and debts securities as at 31 March 2022 are as follows:-SecuredRM’000UnsecuredRM’000TotalRM’000CurrentBankers’ acceptancesHire purchase creditorsRevolving creditTerm loansBondsNon-currentHire purchase creditorsRevolving creditTerm loansBondsUS DollarSingapore DollarSterling PoundJapanese YenThai BahtAustralia DollarEuro-91056,000244,318-301,228767159,9122,244,148-2,404,82736,283-2,478,2746,506,7511,090,00010,111,308-2,636,9047,074,16419,843,38429,554,452Foreign Currency’000344,7612,042,4142,585,41218,351,1721,977,448488,14651736,2839102,534,2746,751,0691,090,00010,412,5367672,796,8169,318,31219,843,38431,959,279RMEquivalents’0001,449,3756,343,94214,256,479630,638249,1581,536,3422,42624,468,360Total borrowings2,706,05539,665,76042,371,815Foreign currency borrowings included in the above are as follows :-Save for the borrowings of RM247.2 million, US Dollar 220.0 million, Sterling Pound 87.4million, Yen 8.0 billion and Euro 0.12 million by subsidiary companies of which corporate guarantees are provided by the Company, all other borrowings of subsidiary companies are on a non-recourse basis to the Company.YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB10. Derivatives Financial Instruments, Fair Value Changes of Financial Liabilities(a) Derivatives Financial InstrumentsAs at 31 March 2022, the Group’s outstanding derivatives are as follows:-Type of DerivativesFuel oil Swaps- Less than 1 year- 1 year to 3 years- More than 3 yearsCurrency forwards- Less than 1 year- 1 year to 3 years- More than 3 yearsElectricity futures- Less than 1 year- 1 year to 3 years- More than 3 yearsContractual notional amountRM’0001,502,865184,968-1,499,742326,886-51,006–Fair ValueRM’000483,25732,916-(458)(2,085)-(30,261)–The Group entered into fuel oil swaps to hedge highly probable forecast fuel purchases that are expected to occur at various dates in the future. The fuel oil swaps have maturity dates that match the expected occurrence of these transactions.The Group entered into currency forwards to hedge highly probable forecast transactions denominated in foreign currency expected to occur in the future. The currency forwards have maturity dates that match the expected occurrence of these transactions.The Group entered into electricity futures to hedge highly probable forecast sale of electricity that are expected to occur at various dates in the future. The electricity futures have maturity dates that match the expected occurrence of these transactions.All derivative financial instruments are executed with creditworthy counter parties with a view to limit the credit risk exposure of the Group.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes – continuedB10. Derivatives Financial Instruments, Fair Value Changes of Financial Liabilities – continued(b) Fair Value Changes of Financial LiabilitiesThe gains/(losses) arising from fair value changes of financial liabilities for the current financial period ended 31 March 2022 are as follows:-Type offinancialliabilitiesCurrency forwardsElectricity futuresBasis of fair valuemeasurementReason for the(loss)/gainForeign exchange differential between the contracted rate and the market forward rateElectricity price differential between the contracted price and the market futures priceForeign exchange rates differential between the contracted rate and the market forward rate which have moved in favour of the GroupElectricity price differential between the contracted price and the market futures price which have moved inunfavourably againstthe GroupFair value (loss)/gainCurrentQuarter31.03.2022RM’000Periodto date31.03.2022RM’000-1(491)(4)Total(491)(3)B11. Material litigationThere was no material litigation pending as at the date of the last financial statements of financial position.[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedB12. DividendB13. Earnings Per Share(i) Basic earnings per share No dividend has been declared for the current financial quarter.The basic earnings per share of the Group has been computed by dividing the net profitattributable to owners of the parent for the financial quarter/period by the weighted average number of ordinary shares in issue during the financial quarter/period as set out below:-Individual QuarterCumulative QuarterCurrentYearQuarter31.03.2022Preceding YearCorrespondingQuarter31.03.20219 Months Ended31.03.202231.03.2021414,61122,430521,87039,81710,964,08810,632,80510,964,08710,633,639Profit attributable to owners of the parent (RM’000) Weighted average number of ordinary shares (‘000) Basic earnings per share (sen) 3.780.214.760.37[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]YTL CORPORATION BERHAD (Company No. 198201012898 (92647-H))(Incorporated in Malaysia)INTERIM FINANCIAL REPORTNotes: – continuedB13. Earnings Per Share – continued(ii) Diluted earnings per share The diluted earnings per share of the Group has been computed by dividing the net profit attributable to owners of the parent for the financial quarter/period by the weighted average number of ordinary shares in issue during the financial quarter/period as set out below:-Individual QuarterCumulative QuarterCurrentYearQuarter31.03.2022Preceding YearCorrespondingQuarter31.03.20219 Months Ended31.03.202231.03.2021414,61122,430521,87039,817Profit attributable to owners of the parent (RM’000) Adjusted weighted average number of ordinary shares – diluted (‘000)Weighted average number of ordinary shares – basicEffect of unexercised employees employees share option scheme 10,964,08810,632,80510,964,08710,633,63933,93610,998,024-10,632,80552,78911,016,876-10,633,639 Diluted earnings per share (sen) 3.770.214.740.37Total cash expected to be received in the event of an exercise of all outstanding ESOS options is RM158.4 million. Accordingly, the Net Asset (“NA”) on a proforma basis will increase by RM158.4 million resulting in a decrease in NA per share of RM0.01. In arriving at the diluted earnings per share, NA and NA per share, no income has been accrued for the cash proceeds.By Order of the BoardHO SAY KENGSecretaryKuala LumpurDated: 26 May 2022