KUB Investor Relations

	INDIVIDUAL QUARTER		CUMULATIVE QUARTER
	CURRENT YEAR QUARTER 31/12/2011 RM'000	PRECEDING YEAR CORRESPONDING QUARTER 31/12/2010 RM'000	CURRENT YEAR TO DATE 31/12/2011 RM'000	PRECEDING YEAR CORRESPONDING TO DATE 31/12/2010 RM'000

Revenue	186,604	260,425	708,500	796,208
Operating expenses	(202,212)	(251,684)	(738,239)	(795,105)
Other operating income	3,249	9,688	21,945	27,158


Results from operating activities	(12,359)	18,429	(7,794)	28,261

Impairment losses	(25,174)	-	(39,912)	-
Finance costs	(2,606)	(6,311)	(8,982)	(9,774)
Effects of deconsolidation of subsidiaries	-	(363)	-	(363)
Share of profit of associates	2,671	880	4,965	4,141


(Loss)/profit before tax	(37,468)	12,635	(51,723)	22,265
Income tax expense	(5,291)	(3,509)	(7,863)	(5,247)


(Loss)/profit for the period	(42,759)	9,126	(59,586)	17,018

Other comprehensive income:
Net gain/(loss) on available-for-sale financial assets	1,248	1,321	(215)	2,273
Foreign currency translation	498	(158)	564	136


Total comprehensive income for the period	(41,013)	10,289	(59,237)	19,427


(Loss)/profit attributable to:
Owners of the parent	(42,742)	6,181	(61,865)	11,482
Non-controlling interest	(17)	2,945	2,279	5,536

	(42,759)	9,126	(59,586)	17,018


Total comprehensive income attributable to:
Owners of the parent	(40,996)	7,344	(61,516)	13,891
Non-controlling interest	(17)	2,945	2,279	5,536

	(41,013)	10,289	(59,237)	19,427


(Loss)/earnings per share attributable to owners of the parent (sen):
- Basic and diluted	(7.68)	1.11	(11.12)	2.06

The Condensed Consolidated Statement of Comprehensive Income should be read in conjuction with the Group's Annual Audited Financial Statements for the financial year ended 31 December 2010.

	UNAUDITED AS AT END OF CURRENT QUARTER 31/12/2011 RM'000	AUDITED AS AT PRECEDING FINANCIAL YEAR END 31/12/2010 RM'000

Assets
Property, plant and equipment	138,211	168,115
Land held for property development	4,605	4,603
Plantation development expenditure	39,322	36,396
Investment properties	53,771	11,805
Investment in associates	19,701	14,737
Other investments	151	151
Intangible assets	3,559	21,368
Deferred tax assets	1,143	2,614

Total non-current assets	260,463	259,789


Other investments	4,192	5,036
Inventories	23,959	30,445
Trade and other receivables	184,282	204,003
Derivative financial asset	260	-
Tax recoverable	1,339	7,739
Cash and bank balances	164,050	194,723

Total current assets	378,082	441,946


Assets classified as held for sale	39	1,412


Total assets	638,584	703,147


Equity
Share capital	222,586	222,586
Reserves	46,839	49,874
Retained earnings	11,652	78,920

Total equity attributable to owners of the parent	281,077	351,380

Non-controlling interest	21,074	22,167

Total equity	302,151	373,547


Borrowings	48,253	22,090
Deferred tax liabilities	11,364	9,906
Provision for liabilities	-	4,232

Total non-current liabilities	59,617	36,228


Trade and other payables	189,241	170,567
Provision for tax	3,099	4,529
Borrowings	84,476	117,414
Derivative financial liability	-	859

Total current liabilities	276,816	293,369


Liabilities classified as held for sale	-	3


Total liabilities	336,433	329,600


Total equity and liabilities	638,584	703,147


Net assets per share attributable to ordinary equity holders of the parent (RM)	0.51	0.63

The Condensed Consolidated Statement of Financial Position should be read in conjuction with the Group's Annual Audited Financial Statements for the financial year ended 31 December 2010.

	CURRENT YEAR TO DATE 31/12/2011 RM'000	PRECEDING YEAR CORRESPONDING PERIOD 31/12/2010 RM'000
Operating (loss)/profit before changes in working capital	(674)	46,866
Changes in working capital:
Inventories	6,486	(8,237)
Receivables	10,179	81,843
Payables	22,692	(81,428)
Tax paid	(3,002)	(10,419)

Net cash generated from operating activities	35,681	28,625


Acquisition of property, plant and equipment	(6,323)	(28,273)
Acquisition of investment properties	(35,561)	(6,788)
Acquisition of non-controlling interest	(1,500)	(12,000)
Disposal of subsidiaries, net of cash disposed	3,715	779
Increase in plantation development expenditure	(5,514)	(816)
Interest received	4,040	3,892
Other Investing activities	352	4,706

Net cash used in investing activities	(40,791)	(38,500)


Changes in deposit pledge with licensed banks	21,780	(12,116)
Dividend paid	(10,916)	(13,166)
Interest paid	(8,982)	(9,774)
Net drawdown of term loan	23,625	4,646
Other financing activities	(5,193)	13,014

Net cash generated from/(used in) financing activities	20,314	(17,396)


Net increase/(decrease) in cash and cash equivalents	15,204	(27,271)
Effect in exchange rate fluctuations on cash held	1,110	99
Cash and cash equivalents at beginning of period	69,044	96,216

Cash and cash equivalents at end of period	85,358	69,044



Cash and cash equivalents included in the condensed consolidated statement of cash flows comprise the following:
Cash in hand and at banks	71,815	89,814
Deposits (excluding deposits pledged)	54,785	45,679
Bank overdrafts	(41,242)	(66,449)

	85,358	69,044

The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Group's Annual Audited Financial Statements for the financial year ended 31 December 2010.