Inta Bina Q2-FY2024 (Final)

INTA BINA GROUP BERHAD
Registration No. 201501009545 (1134880-W)

(Incorporated in Malaysia)
UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2024

INTA BINA GROUP BERHAD
[Registration No: 201501009545 (1134880-W)]
(Incorporated in Malaysia)
UNAUDITED CONDENSED INTERIM FINANCIAL REPORT

FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2024
Page No.
Unaudited Condensed Consolidated Statement of Comprehensive Income 1
Unaudited Condensed Consolidated Statement of Financial Position 2
Unaudited Condensed Consolidated Statement of Changes in Equity 3
Unaudited Condensed Consolidated Statement of Cash Flows 4
Notes to the Interim Financial Report 5-9
Additional Information 10 - 13
INTA BINA GROUP BERHAD Registration No. 201501009545 (1134880-W)
INTERIM FINANCIAL REPORT FOR THE SECOND QUARTER ENDED 30 JUNE 2024
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
INDIVIDUAL QUARTER CUMULATIVE PERIOD

Current Comparative Current Comparative
Quarter Quarter Period Period
Ended Ended Ended Ended
30/06/2024 30/06/2023 30/06/2024 30/06/2023
Note RM'000 RM'000 RM'000 RM'000
Revenue 154,108 166,909 313,105 324,987
Cost of sales (137,280) (154,143) (280,515) (300,888)
Gross profit 16,828 12,766 32,590 24,099
Other income 549 768 1,035 1,142

Administrative
Net impairmentand
lossother operating
on financial expenses
instruments (5,709) (4,704) (12,098) (9,628)
- -
Operating profit 11,668 8,830 21,527 15,613
Finance costs (988) (1,201) (2,051) (2,669)
Share of results of joint venture 249 437 776 706
Profit before tax 10,929 8,066 20,252 13,650
Tax expense B5 (2,537) (2,110) (4,959) (3,601)
Profit after tax 8,392 5,956 15,293 10,049
Other comprehensive income - - - -
Total comprehensive income 8,392 5,956 15,293 10,049
Profit Attributable to:

Owners of the Company 8,213 6,010 15,265 10,061
Non-controlling interest 179 (54) 28 (12)
8,392 5,956 15,293 10,049
Earnings per share attributable to owners
of the Company (sen):
i) Basic B11 1.51 1.12 2.82 1.88
ii) Diluted B11 1.46 1.12 2.73 1.88
Note:
The Unaudited Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the
Audited Financial Statements of Inta Bina Group Berhad ("the Company") for the financial year ended 31 December
2023 and the accompanying explanatory notes as attached to this interim financial report.
1
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(UNAUDITED) (AUDITED)
AS AT AS AT
30/06/2024 31/12/2023
Note RM'000 RM'000
ASSETS
Non-current assets
Property, plant and equipment 32,567 32,886
Investment properties 33,152 29,911
Joint venture company 2,826 2,050
Total non-current assets 68,545 64,847
Current assets
Trade receivables 214,378 229,209
Other receivable 24,148 28,268
Inventories 17,261 17,162
Current tax assets 196 182
Contract assets 71,452 66,141
Other current assets 2,379 1,944
Cash and short-term deposits 82,924 101,516
Total current assets 412,738 444,422
TOTAL ASSETS 481,283 509,269
EQUITY AND LIABILITIES

Share capital 73,014 69,880
Other reserves (33,831) (33,152)
Retained earnings 144,990 132,432
Equity attributable to owners of the Company 184,173 169,160
Non-controlling interest 416 388
Total Equity 184,589 169,548
Non-current liabilities
Deferred tax liabilities 236 416
Loans and borrowings B7 12,730 14,570
Total non-current liabilities 12,966 14,986
Current liabilities
Trade and other payables 216,210 244,676
Contract liabilities 15,635 25,399
Loans and borrowings B7 48,004 51,901
Current tax liabilities 3,879 2,759
Total current liabilities 283,728 324,735
TOTAL LIABILITIES 296,694 339,721
TOTAL EQUITY AND LIABILITIES 481,283 509,269
Net assets per share (RM) 0.336 0.315
Note:
The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited
Financial Statements of the Company for the financial year ended 31 December 2023 and the accompanying explanatory
notes as attached to this interim financial report.
2
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
<------- Attributable to Equity Owners of the Company ----------->

Non- distributable Distributable
Non-
Share Reorganisation ESOS Retained Controlling Total
Capital Reserve Reserve Earnings Total Interest Equity
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
At 01.01.2024 69,880 (34,621) 1,469 132,432 169,160 388 169,548
ESOS issued/lapsed 3,134 (679) (11) 2,444 - 2,444
Recognised income and expense for the period:

Profit after taxation - - - 15,265 15,265 28 15,293
Dividends to owners of the Company - - - (2,696) (2,696) - (2,696)
At 30.06.2024 73,014 (34,621) 790 144,990 184,173 416 184,589
At 01.01.2023 69,429 (34,621) 1,072 116,186 152,066 256 152,322
ESOS issued 113 - (49) 24.00 88 - 88
Recognised income and expense for the period:

Profit after taxation - - - 10,061 10,061 (12) 10,049
Dividends to owners of the Company (1,339) (1,339) - (1,339)
At 30.06.2023 69,542 (34,621) 1,023 124,932 160,876 244 161,120
Note:
The Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Audited Financial Statements of the Company for
the financial year ended 31 December 2023 and the accompanying explanatory notes as attached to this interim financial report.
3
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
CUMULATIVE PERIOD
Current Comparative
Period Period
Ended Ended
30/06/2024 30/06/2023
RM'000 RM'000
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit before tax 20,252 13,650
Adjustments for:
Non-cash items 5,713 5,483
Non-operating items 622 536
Operating profit before changes in working capital 26,587 19,669
Decrease / (Increase) in receivables 18,517 (3,667)

(Decrease) / Increase in payables (28,467) 23,484
Contract assets/liabilities and others (15,175) (44,467)
Cash flows from / (used in) operations 1,462 (4,981)
Tax paid (4,033) (1,851)
Net cash flows used in operating activities (2,571) (6,832)
CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment & investment properties (9,324) (3,900)
Proceeds from disposal of PPE & investment properties 46 970
Interest received 607 570
Net cash flows used in investing activities (8,671) (2,360)

CASH FLOWS FROM FINANCING ACTIVITIES:
Fixed deposit pledged (10,660) (2,542)
Interest paid (2,051) (2,669)
(Repayment)/Increase in borrowings (5,054) 14,318
Proceeds from ESOS 3,134 88
Dividend paid (2,696) (1,339)
Net cash flows (used in)/ from financing activities (17,327) 7,856
Net decrease in cash & cash equivalent (28,569) (1,336)

Cash & cash equivalent at beginning of the financial period 53,874 30,745
Cash & cash equivalent at end of the financial period 25,305 29,409
Cash & cash equivalent consists of:

Short-term deposits placed with licensed banks 57,619 45,970
Less: Pledged deposits (57,619) (45,970)
- -
Cash and bank balances 25,305 29,409
25,305 29,409
Note:
The Unaudited Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Audited
Financial Statements of the Company for the financial year ended 31 December 2023 and the accompanying explanatory
notes as attached to this interim financial report.
4
A Explanatory Notes to the Unaudited Interim Financial Report for the Second Quarter
Ended 30 June 2024
A1 Basis of Preparation
The unaudited interim financial report has been prepared in accordance with MFRS 134
“Interim Financial Reporting”, the International Accounting Standards (“IAS “) 34 Interim
Financial Reporting, Paragraph 9.22 of the Main Market Listing Requirements of Bursa
Malaysia Securities Berhad.
The unaudited interim financial report should be read in conjunction with the audited financial
statements of the Group for the financial year ended 31 December 2023.
A2 Significant Accounting Policies
The significant accounting policies and presentations adopted by the Group are consistent
with those adopted for the audited financial statements of the Group for the financial year
ended 31 December 2023 except for the changes in accounting policies and presentation
resulting from the adoption of relevant MFRSs, Amendment to MFRSs and IC Interpretations
that are effective beginning on 1 January 2024.
The adoption of relevant MFRSs, Amendment to MFRSs and IC Interpretations do not have
any significant financial impact on the financial statements of the Group.
A3 Auditors’ Report
There were no qualification on the audited financial statements of the Group for the financial
year ended 31 December 2023.
A4 Seasonal and Cyclical Factors
The Group does not experience significant fluctuations in operations due to seasonal factors
or cyclical factors during the current financial quarter under review and the financial period
to date.
A5 Items or Incidence of an Unusual Nature
The Directors are not aware of any items or incidence of an unusual nature not otherwise dealt
with in this report which may or has substantially affected the value of assets, liabilities,
equity, net income or cash flows of the Group for the current financial quarter under review
and the financial period to date.
A6 Effects of Changes in Estimates
There were no material changes in estimates of amounts reported in the current financial
quarter or changes in estimates of amounts reported in prior financial years that may have a
material effect in the current financial quarter under review and the financial period to date.
5
Ended 30 June 2024 (Cont’d)
A7 Debt and Equity Securities
There were no other issuances, cancellations, repurchases, resale and repayments of debts and
equity securities for the current financial quarter under review and the financial period to date
except for the following: -
Employees’ Share Option Scheme (“ESOS”)
During the current reporting quarter ended 30 June 2024, the Company has issued 9,029,000
shares under the ESOS; whilst for year to date, 11,289,000 ordinary shares have been issued
through exercise of share options under ESOS.
A8 Dividends
On 22 March 2024, the Board of Directors paid third interim single tier dividend of 0.50 sen
per ordinary share amounting to approximately RM2.69 million in respect of financial year
ended 31 December 2023.
A9 Segmental Reporting
The segmental Revenue and Results analysis for the financial quarter ended 30 June (3-
months) was as follows:
6
A9 Segmental Reporting (Cont’d)
The segmental analysis for the financial period ended 30 June (6-months) was as follows:
Note: The financial information by geographical location was not presented as the
Group’s activities are primarily conducted in Malaysia.
7
A9 Segmental Reporting (Cont’d)
The Group organized the business units based on their principal activities and materiality of
their results to the Group, which has summarised into of three (3) reportable operating
segments as follows:-
(i) Construction – Securing and carrying out construction activities of main building works
(ii) Property Development – Development of residential properties
(iii) Others – Including investment holding company, construction and engineering service
to supply, install and maintain elevator, escalator and lifts, dormant company and share
of profit from joint venture.
Segment performance for the financial period ended 30 June 2024 as compared to
corresponding preceding period ended 30 June 2023
(i) Construction
The construction segment achieved RM148.8 million revenue for the quarter and
RM306.5 million for the half year ended, representing decrease of approximately 10.9%
and 5.7% respectively comparing to the preceding correspondence financial period. The
marginal decrease in revenue was mainly due to completion of few projects in-hand
while pending kick-start of new projects.
However, the quarter and half year segmental profit improved by 13.8% and 31.4%
respectively comparing to the preceding correspondence financial period. This is mainly
due to improvement in gross profit margin achieved during the period. The construction
segment is expected to continue to be the main contributor to the Group's overall revenue
and profitability moving forward.
(ii) Property Development
The property development segment has launched the first property development projects
in October 2023. This segment has reported a segmental revenue of RM11.0 million and
segmental profit of RM1.4 million in the current reporting quarter, whilst recorded a half
year revenue of RM16.6 million and segmental profit of RM1.9 million.
A10 Contingent Assets or Liabilities
There were no contingent assets as at the date of this interim report. Contingent liabilities of
the Group as at 30 June 2024 comprise of bank guarantees issued for contract works being
carried out by the Group amounting to RM112.2 million.
8
A11 Capital Commitments
Save as disclosed below, there were no other material capital commitments as at the end of
the current financial quarter and up to the date of this report.
RM’000
Approved and contracted for:
Plant and machineries 8,489
Investment Property 931
9,420
A12 Significant Related Party Transactions

30/06/2024 30/06/2023 30/06/2024 30/06/2023
RM’000 RM’000 RM’000 RM’000
Transactions with related party
Corporate shareholder of the
Company- Apexjaya Industries
Sdn Bhd (“Apexjaya”)
Construction related cost charged 2,806 1,767 5,774 4,805
by Apexjaya
Family member of Lim Ooi Joo

Lim Yeong Kern
Rental expenses charged 15 15 30 30
by Lim Yeong Kern
A13 Changes in Composition of the Group
There were no other changes in the composition of the Group for the current financial period
ended 30 June 2024.
A14 Significant Event Subsequent to the End of the Financial Period
There were no material events subsequent to the end of the reported financial period.
9
B Additional Information Required by the Listing Requirements
B1 Group Performance Review
The Group recorded a slightly lower revenue of RM154.11 million mainly from the
construction of residential and commercial properties in the financial quarter under review.
This is 7.7% less than RM166.91 million reported in the previous corresponding quarter.
The Group profit before tax increased by 35.5% from RM8.07 million to RM10.93 million
for the quarter while profit attributable to owners of the Company increased by 36.7% from
RM6.01 million to RM8.21 million. The significantly higher profit is mainly due to better
gross profit margin achieved by the Group compared to that achieved in the previous
corresponding quarter.
B2 Comparison with Immediate Preceding Quarter Results
The revenue for the quarter reduced slightly by 3.1% from RM159.00 million to RM154.11
million, whilst the profit before tax for the quarter improved by 17.1% from RM9.32 million
in the immediate preceding quarter to RM10.93 million. This was due to the improvement in
gross profit margin from the gradual stabilization of certain material cost during the quarter.
B3 Prospects and Outlook
The global economy is expected to be sustained in the second half 2024, supported by positive
labour market conditions and moderating inflation. Global headline and core inflation
continued to edge downwards in recent months, with growth outlook remaining subject to
downside risks, mainly from further escalation of geopolitical tensions and volatility in global
financial markets.
Despite the challenging global environment, Malaysia’s economy expanded at a faster pace
at 5.9% in the second quarter of 2024 (1Q 2024: 4.2%), higher than Bank Negara Malaysia
projection of around 4% – 5% in 2024. Headline and core inflation averaged 1.8% in the first
half of 2024 (1Q 2024: 1.7%) and is expected to trend higher in the second half of 2024, amid
the recent rationalisation of diesel subsidies.
Construction activities in Malaysia have managed to sustain its momentum in 2024. The value
of work done surged by 20.2% year-on-year in 2Q 2024 compared to 14.2% in the immediate
preceding quarter. Construction activities are expected to grow by 6.7% this year and to
improve further entering into second half of 2024.
Despite general improvement in the overall construction sector outlook in 2024, the Board
continues to stay prudent by balancing risks due to inflation, increase in certain material prices
and shortage of skilled workers with measures to improve financial performance. The unbilled
order book of approximately RM1.73 billion as at 30 June 2024 will sustain the Group’s
revenue and earnings over next two to three years.
B4 Profit Forecast
The Company did not issue any profit forecast or guarantee during the current financial
quarter under review and the financial period to date.
10
B Additional Information Required by the Listing Requirements (Cont’d)
B5 Tax expense

30/06/2024 30/06/2023 30/06/2024 30/06/2023
RM’000 RM’000 RM’000 RM’000
Income Tax
-current period 2,633 2,110 5,139 3,601
Deferred Tax
-current period (96) - (180) -
2,537 2,110 4,959 3,601
The effective tax rate during current quarter and year to date is approximately the statutory
tax rate.
B6 Corporate Proposal
There are no corporate proposals announced by the Company but not completed as at the date
of this report.
B7 Group Borrowings
The details of the borrowings of the Group are as follows:-
As at As at
30/06/2024 31/12/2023
RM’000 RM’000
Non-current:
Term loans 5,640 7,647
Islamic term financing 6,357 5,675
Hire purchase payable 733 1,248
12,730 14,570
Current:
Term loans 148 148
Islamic term financing 554 554
Hire purchase payable 4,182 4,012
Bankers’ acceptance 10,327 11,851
Revolving credit 10,000 10,000
Invoice financing 22,793 24,653
Bank overdrafts - 683
48,004 51,901
Total borrowings 60,734 66,471
All the Group’s borrowings are denominated in Ringgit Malaysia.
11
B8 Off Balance Sheet Financial Instruments
Save for the contingent liabilities as disclosed in Note A10, there is no off-balance sheet
financial instruments as at the date of this report.
B9 Material Litigations
As at the date of this report, there is no litigation or arbitration, which has a material effect on
the financial position of the Group, and the Board of Directors is not aware of any proceedings
pending or threatened or of any fact likely to give rise to any proceedings.
B10 Proposed Dividends
On 26 August 2024, the Board of Directors declared a first interim single tier dividend of
1.00 sen per ordinary share amounting to approximately RM5.51 million in respect of
financial year ending 31 December 2024 to be paid on 19 September 2024. The entitlement
date is on 10 September 2024.
B11 Earnings Per Share
The basic and diluted earnings per share for the current quarter and financial period are
computed as follows:

30/06/2024 30/06/2023 30/06/2024 30/06/2023
Profit attributable to
owners of the Company (RM’000) 8,213 6,010 15,265 10,061
Weighted average number of shares

in issue (’000) 543,227 535,469 540,769 535,575
Effect of dilution from ESOS
in issue (’000) 10,764 671 10,764 671
Effect of dilution from Warrants
in issue (‘000) 7,871 - 7,871 -
561,862 536,140 559,404 536,246
Basic earnings per share (sen)(1) 1.51 1.12 2.82 1.88
Diluted earnings per share (sen)(2) 1.46 1.12 2.73 1.88
Notes:
(1) The basic earnings per share is computed based on the profit attributable to the equity
shareholders of the Company divided by the weighted average number of ordinary shares
in issue for the financial period under review.
12
B12 Notes to the Condensed Consolidated Statement of Profit or Loss and Other
Comprehensive Income
Profit before tax is arrived at after (crediting)/charging:

30/06/2024 30/06/2023 30/06/2024 30/06/2023
RM’000 RM’000 RM’000 RM’000
Interest income (323) (416) (602) (570)

Rental income (179) (143) (358) (293)
Interest expense 988 1,201 2,051 2,669
Loss / (Gain) on disposal of - 35 - 35
investment property
Gain on disposal of property, (46) (89) (46) (185)
plant and equipment
Depreciation of property, plant 3,321 2,580 6,043 5,170
and equipment
Depreciation of investment 169 155 348 315
properties
Other disclosure items pursuant to Appendix 9B Note 16 of the Listing Requirements are not
applicable.
B13 Authorisation for Issue
The interim financial statements were authorised for issue by the Board of Directors of the
Company in accordance with a resolution of the directors on 26 August 2024.
13

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INTA BINA GROUP BERHAD

Registration No. 201501009545 (1134880-W)

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2024

UNAUDITED CONDENSED INTERIM FINANCIAL REPORT

Unaudited Condensed Consolidated Statement of Comprehensive Income 1

Unaudited Condensed Consolidated Statement of Financial Position 2

Unaudited Condensed Consolidated Statement of Changes in Equity 3

Unaudited Condensed Consolidated Statement of Cash Flows 4

Notes to the Interim Financial Report 5-9

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

INDIVIDUAL QUARTER CUMULATIVE PERIOD

Gross profit 16,828 12,766 32,590 24,099

Other income 549 768 1,035 1,142

Profit Attributable to:

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Total non-current assets 68,545 64,847

TOTAL ASSETS 481,283 509,269

EQUITY AND LIABILITIES

Total non-current liabilities 12,966 14,986

TOTAL LIABILITIES 296,694 339,721

TOTAL EQUITY AND LIABILITIES 481,283 509,269

Net assets per share (RM) 0.336 0.315

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

<------- Attributable to Equity Owners of the Company ----------->

At 01.01.2024 69,880 (34,621) 1,469 132,432 169,160 388 169,548

ESOS issued/lapsed 3,134 (679) (11) 2,444 - 2,444

Recognised income and expense for the period:

At 30.06.2024 73,014 (34,621) 790 144,990 184,173 416 184,589

At 01.01.2023 69,429 (34,621) 1,072 116,186 152,066 256 152,322

ESOS issued 113 - (49) 24.00 88 - 88

Recognised income and expense for the period:

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Decrease / (Increase) in receivables 18,517 (3,667)

CASH FLOWS FROM INVESTING ACTIVITIES:

Net cash flows used in investing activities (8,671) (2,360)

Net decrease in cash & cash equivalent (28,569) (1,336)

Cash & cash equivalent consists of:

A2 Significant Accounting Policies

A4 Seasonal and Cyclical Factors

A5 Items or Incidence of an Unusual Nature

A6 Effects of Changes in Estimates

A7 Debt and Equity Securities

Employees’ Share Option Scheme (“ESOS”)

A9 Segmental Reporting (Cont’d)

A9 Segmental Reporting (Cont’d)

(ii) Property Development – Development of residential properties

(ii) Property Development

A10 Contingent Assets or Liabilities

A11 Capital Commitments

A12 Significant Related Party Transactions

Current Comparative Current Comparative

Family member of Lim Ooi Joo

A13 Changes in Composition of the Group

A14 Significant Event Subsequent to the End of the Financial Period

B Additional Information Required by the Listing Requirements

B1 Group Performance Review

B2 Comparison with Immediate Preceding Quarter Results

B3 Prospects and Outlook

B Additional Information Required by the Listing Requirements (Cont’d)