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WZSATU

Quarterly rpt on consolidated results for the financial period ended 31/10/2007

WENG ZHENG RESOURCES BERHAD

Financial Year End

30/04/2008
Quarter2
Quarterly report for the financial period ended31/10/2007
The figureshave not been audited

SUMMARY OF KEY FINANCIAL INFORMATION
31/10/2007

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/10/2007
31/10/2006
31/10/2007
31/10/2006
RM'000
RM'000
RM'000
RM'000
1Revenue
0
0
0
0
2Profit/(loss) before tax
3,795
0
3,795
0
3Profit/(loss) for the period
3,795
0
3,795
0
4Profit/(loss) attributable to ordinary equity holders of the parent
3,795
0
3,795
0
5Basic earnings/(loss) per share (sen)
4.89
0.00
4.89
0.00
6Proposed/Declared dividend per share (sen)
0.00
0.00
0.00
0.00
 
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent (RM)
0.5500
0.0000

Note: For full text of the above announcement, please access KLSE Web site at www.klse.com.my


Remarks :
Note:

(i) This is the first Interim Financial Statement on the consolidated results for the financial period ended 31 October 2007 announced by the Company in compliance with the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") and in conjunction with the admission of the Company to the Second Board of Bursa Securities. As this is the first quarterly report being drawn up, there are no comparative figures for the preceding year's corresponding quarter.

(ii) In conjunction with the Initial Public Offering ("IPO") exercise, the acquisitions of Weng Zheng Sdn Bhd, Weng Zheng Trading Sdn Bhd and Weng Zheng Marketing Sdn Bhd ("Acquisitions") were completed on 6 November 2007 when the sale and purchase agreements became unconditional. For accounting purposes, the Acquisitions were deemed completed on 31 October 2007 as our Board is of the view that the financial effects from 31 October 2007 to completion of Acquisitions on 6 November 2007 are immaterial.

(iii) The condensed consolidated income statement should be read in conjunction with the audited proforma consolidated financial statements and the accountants' report for the financial period ended 31 July 2007 as disclosed in the Prospectus dated 10 December 2007 and the accomplying explanatory notes attached to the interim financial reports.

(iv) Included in Other Income is negative goodwill of RM3.804 million arising from the Acquisitions which is non-recurring and represents the excess of the fair values of the net identifiable assets acquired (and included the profit after taxation for the six month ended 31 October 2007) as at the completion date over the acquisition cost. In accordance with FRS 3 : Business combination, the negative goodwill is recognised immediately in the income statement.

(v) The operating results of the Group for the period from 1 May 2007 to 31 October 2007, which are treated as pre-acquisition profit, are set out below:-

RM’000

Turnover 37,579
___________

Consolidated Profit before taxation 4,045

Taxation (488)
__________
Consolidated Profit after taxation 3,557
___________


Announcement Info

Company NameWENG ZHENG RESOURCES BERHAD  
Stock Name WZRB    
Date Announced28 Dec 2007  
CategoryFinancial Results
Reference NoCC-071228-70620