OUR PERFORMANCE

STATEMENTS OF PROFIT OR LOSS STATEMENTS OF COMPREHENSIVE INCOME

For the financial year ended 31 August 2021 For the financial year ended 31 August 2021

Group Company Group Company

2021 2020 2021 2020 2021 2020 2021 2020
Note RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Revenue 8 16,361,443 7,237,427 6,493,369 1,636,614 Profit net of tax 7,823,992 1,788,830 6,461,350 1,637,122
Cost of sales (5,259,336) (4,387,010) - -
Other comprehensive (loss)/income:
Gross profit 11,102,107 2,850,417 6,493,369 1,636,614
Items that may be reclassified
Other items of income subsequently to profit or loss:
Interest income 9 61,575 23,889 24,818 9,741 Net movement on debt securities at fair value through
other comprehensive income (Note 35) 1,844 (2,084) 144 -
Other income 10 83,311 33,116 4,475 7
Cash flow hedge (Note 35) 2,690 77,601 - -
Other items of expense Foreign currency translation differences of foreign
Distribution and selling costs (253,652) (155,021) - - operations (21,075) (7,521) - -
Administrative and general expenses (957,985) (551,023) (57,264) (9,016) Other comprehensive (loss)/income for the year,
Finance costs (4,187) (34,399) (16) (7) net of tax (16,541) 67,996 144 -
Total comprehensive income for the year 7,807,451 1,856,826 6,461,494 1,637,122
Share of results of an associate 2,644 (1,428) - -
Profit before tax 11 10,033,813 2,165,551 6,465,382 1,637,339 Total comprehensive income attributable to:
Income tax expense 14 (2,209,821) (376,721) (4,032) (217) Owners of the parent 7,695,240 1,821,022 6,461,494 1,637,122
Profit net of tax 7,823,992 1,788,830 6,461,350 1,637,122 Holders of Perpetual Sukuk 51,350 25,605 - -
Non-controlling interests 60,861 10,199 - -
Profit attributable to:
7,807,451 1,856,826 6,461,494 1,637,122
Owners of the parent 7,710,327 1,752,584 6,461,350 1,637,122
Holders of Perpetual Sukuk 51,350 25,605 - -
Non-controlling interests 62,315 10,641 - -
7,823,992 1,788,830 6,461,350 1,637,122

Earnings per share attributable to owners

of the parent (sen):
Before issuance of bonus shares
- Basic 15 95.91 67.60
- Diluted 15 95.83 67.28

After issuance of bonus shares

- Basic 15 95.91 21.88
- Diluted 15 95.83 21.78

The accompanying accounting policies and explanatory notes form an integral part of the financial statements. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

190 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 191

 OUR PERFORMANCE

STATEMENT OF FINANCIAL POSITION (GROUP) STATEMENT OF FINANCIAL POSITION (GROUP)

As at 31 August 2021 (cont’d)
As at 31 August 2021

2021 2020 2021 2020

Note RM’000 RM’000 Note RM’000 RM’000

Assets Non-current liabilities

Loans and borrowings 29 146,002 226,340
Non-current assets
Lease liabilities 32 18,127 9,672
Property, plant and equipment 16 3,958,715 3,010,233
Deferred tax liabilities 21 191,200 141,988
Right-of-use assets 17 210,649 201,425
Provisions 8,448 4,557
Investment properties 18 227,400 163,900
363,777 382,557
Investment in an associate 20 13,069 10,425
Deferred tax assets 21 17,073 19,589 Total liabilities 2,562,264 2,515,081
Biological assets 574 28
Net assets 7,220,160 6,190,883
Investment securities: Unquoted investments 22 392 392
Intangible assets 23 1,008,795 1,012,319 Equity attributable to owners of the parent
5,436,667 4,418,311
Share capital 33 1,841,654 1,675,704
Current assets Treasury shares 34 (1,413,274) (1,519)
Inventories 24 1,144,705 530,729 Other reserves 35 101,663 65,040
Trade and other receivables 25 566,299 798,805 Retained earnings 37 5,342,360 3,131,530
Other current assets 26 118,174 74,884 5,872,403 4,870,755
Tax recoverable 5,803 - Perpetual Sukuk 36 1,295,262 1,295,262
Investment securities: Money market funds 22 1,323,297 1,674,631 Non-controlling interests 52,495 24,866
Investment securities: Debt securities 22 306,622 - Total equity 7,220,160 6,190,883
Derivative financial instruments 27 2,411 45
Total equity and liabilities 9,782,424 8,705,964
Cash and bank balances 28 878,446 1,208,559
4,345,757 4,287,653
Total assets 9,782,424 8,705,964

Equity and liabilities

Current liabilities
Loans and borrowings 29 312,704 314,199
Trade and other payables 30 692,361 810,824
Contract liabilities 31 737,627 879,386
Lease liabilities 32 5,542 1,442
Income tax payable 450,023 126,673
Derivative financial instruments 27 230 -
2,198,487 2,132,524

Net current assets 2,147,270 2,155,129

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

192 TOP G L O V E C O R P ORAT ION BHD I N TEG RAT E D A NNUA L RE P O RT 2 0 2 1 193

194
Assets

Net assets

Total equity
Total assets

Share capital

Other reserves
Lease liabilities
Lease liabilities

Total liabilities

Treasury shares
Current assets

Current liabilities

Retained earnings
Income tax payable
Right-of-use assets

Net current assets

Other current assets
Non-current assets

Non-current liability
Equity and liabilities
Cash and bank balances
As at 31 August 2021

Trade and other payables

Investment in subsidiaries

Total equity and liabilities

Trade and other receivables
OUR PERFORMANCE

TOP G L O V E C O R P ORAT ION BHD

Investment securities: Debt securities
Investment securities: Money market funds

Equity attributable to owners of the Company

37
35
34
33
32
32
30
28
22
22
26
25
17
19
Note

2,980,314
2,955,175
2,492,055
34,740
1,841,654
2,955,175
25,139
292
921,700
24,847
1,713
74
23,060
2,980,314
946,547
5,555
97,307
578,568
3,432
261,685
2,033,767
357
2,033,410
RM’000
2021

(1,413,274)

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
STATEMENT OF FINANCIAL POSITION (COMPANY)

3,190,501
3,187,273
1,507,769
5,319
1,675,704
3,187,273
3,228
366
1,569,549
2,862
219
72
2,571
3,190,501
1,572,411
257,481
-
709,075
11
605,844
1,618,090
434
1,617,656
RM’000
2020

(1,519)

Attributable to owners of the parent

Total equity Non-distributable Distributable Non-
attributable to controlling
Total owners of the Share Treasury Other Retained Perpetual interests
2021 equity of parent capital shares reserves earnings Sukuk (“NCI”)
Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Opening balance at 1 September 2020 6,190,883 4,870,755 1,675,704 (1,519) 65,040 3,131,530 1,295,262 24,866

Profit net of tax 7,823,992 7,710,327 - - - 7,710,327 51,350 62,315

Other comprehensive loss (16,541) (15,087) - - (15,087) - - (1,454)
Total comprehensive income 7,807,451 7,695,240 - - (15,087) 7,710,327 51,350 60,861

Transactions with owners

Issuance of ordinary shares pursuant to
Employee Share Options Scheme (“ESOS”)
For the financial year ended 31 August 2021

(Note 38) 58,061 58,061 58,061 - - - - -

Issuance of ordinary shares pursuant
to conversion of exchangeable bonds 104,387 104,387 104,387 - - - - -
Share options granted under ESOS (Note 35) 33,983 33,983 - - 33,983 - - -
Issuance of shares to NCI 300 - - - - - - 300
Transfer from share option reserve
(Note 33 and Note 35) - - 4,002 - (4,706) 704 - -
Transfer from retained earnings (Note 35) - - - - 4,952 (4,952) - -
Transfer to legal reserve (Note 35) - - - - 17,481 (17,481) - -
Transfer to Employee Share Grant Plan
(“ESGP”) (Note 34) 8,641 8,641 - 12,340 - (3,699) - -
Transaction cost (2,010) (2,010) (500) (1,510) - - - -
STATEMENTS OF CHANGES IN EQUITY

Purchase of treasury shares (Note 34) (1,422,585) (1,422,585) - (1,422,585) - - - -

Distribution to holders of Perpetual Sukuk (51,350) - - - - - (51,350) -
Dividends on NCI (33,532) - - - - - - (33,532)
Dividends on ordinary shares (Note 46) (5,474,069) (5,474,069) - - - (5,474,069) - -
Total transactions with owners (6,778,174) (6,693,592) 165,950 (1,411,755) 51,710 (5,499,497) (51,350) (33,232)
Closing balance at 31 August 2021 7,220,160 5,872,403 1,841,654 (1,413,274) 101,663 5,342,360 1,295,262 52,495
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