Malaysia Stainless Steel Manufacturer -K.Seng Seng Corporation Bhd 
   
 
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Financial Data


 
    2017 2016 As at 1.1.2018
  Note RM RM RM
 
 
Revenue
4  
123,218,758
102,176,423
 
Cost of sales
 
 (99,607,080
(82,722,436)
 
Gross profit  
 23,611,678 
19,453,987
 
 Other income  
 344,980 
535,613
 
   
Selling and distribution costs  
 (2,958,465)
(2,566,244)
 
Administrative costs  
 (9,273,224)
(8,373,390)
 
Other costs  
 (3,015,964)
 (2,704,792)
 
   
 (15,247,653)
(13,644,426)
 
   
Profit from operations  
 8,709,005 
6,345,174
 
Finance costs  
 (1,433,472)
 (1,301,497)
 
Share of result of an associate  
 353,705 
348,972
 
Profit before tax
 7,629,238 
5,392,649
 
Income tax expense
 (1,932,994)
(1,352,844)
 
Profit net of tax, representing total  
 
 
 
   comprehensive income for the financial year  
 5,696,244 
 4,039,805
 
   
Total comprehensive income attributable to:  
 
 
 
Owners of the parent  
5,475,406
3,807,394
 
Non-controlling interest  
 220,838 
232,411
 
   
5,696,244
4,039,805
 
   
Earnings per share attributable to  
 
 
 
   owners of the parent (sen per share)  
 
   
Basic
 5.70 
 3.97
 
Diluted
 5.70 
3.97
 
   
The annexed notes form an integral part of, and should be read in conjunction with, these financial
statements.
 
   
Group
Company
   
2017
2016
2017
2016
 
Note  
RM
RM
RM
RM
 
 
ASSETS
Non-current assets  
 
 
 
 
Property, plant and equipment
 11,297,416
 11,564,411
6,472,597
6,581,242
Investment in subsidiaries
10 
-
-
 33,510,002
32,975,004
Investment in an associate
11 
 4,308,454
3,954,749
820,000
820,000
Goodwill
 
 -
-
-
-
Deferred tax assets
12 
760,594
 402,600
-
-
   
16,366,464
15,921,760
40,802,599
40,376,246
   
Current assets
Inventories
13 
44,240,959
50,721,028
 -
-
Trade receivables
14 
46,174,341
 44,652,696
-
-
Other receivables, deposits and prepayments
15 
 1,867,192
1,866,667
181,896
166,313
 Amount due from subsidiaries
16 
-
-
24,573,886
26,666,153
Tax recoverable  
 999,470
1,517,197
46,672
181,529
Cash and bank balances
17 
13,494,528
12,430,417
 4,728,209
 4,233,114
   
   
106,776,490
111,188,005
29,530,663
31,247,109
TOTAL ASSETS  
 123,142,954
     127,109,765  70,333,262
71,623,355
   
 
   
Group
Company
   
2017
2016
2017
2016
 
Note  
RM
RM
RM
RM
 
 
EQUITY AND LIABILITIES
Share capital
18 
48,514,639
48,000,000
48,514,639
48,000,000
Share premium
19 
-
514,639
-
514,639
Retained earnings
 
 32,058,061 
27,751,070
 1,203,834 
1,417,535
Equity attributable to owners of the parent
  
 80,572,700 
76,265,709
49,718,473
49,932,174
Non-controlling interest
  
 1,196,400
 1,732,147
-
-
Total equity  
 81,769,100
 77,997,856
49,718,473
49,932,174
 
Liabilities
Non-current liabilities
Bank borrowings
20 
1,481,544
1,499,001
-
-
Deferred tax liabilities
12 
134,859
145,865
128,779
121,840
 
  
1,616,403
1,644,866
128,779
121,840
 
  
 
 
 
 
Trade payables
23 
6,555,278
 9,939,640
-
-
Other payables and accruals
24 
 4,226,443
 6,498,090
 1,555,067
890,022
Downpayment from customers        -         7,598,299                     -                     -
Bank borrowings
20 
 28,859,145
23,342,842
-
-
Amount due to subsidiaries
16 
-
-
 18,930,943 
20,412,452
Tax payable
  
 116,585
 88,172
-
-
 
 
39,757,451
 47,467,043
20,486,010
21,569,341
Total liabilities
 
 41,373,854
49,111,909
20,614,789
21,691,181
TOTAL EQUITY AND LIABILITIES  
 123,142,954
127,109,765
70,333,262
71,623,355