Crescendo Bhd : 3rd Quarter 2016

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME INDIVIDUAL QUARTER CUMULATIVE QUARTER CURRENT PRECEDING YEAR CURRENT PRECEDING YEAR YEAR CORRESPONDING YEAR CORRESPONDING QUARTER QUARTER TO DATE PERIOD 31.10.16 31.10.15 31.10.16 31.10.15 RM'000 RM'000 RM'000 RM'000

Revenue	72,445	36,538	169,956	133,171
Cost of sales	(53,322)	(25,793)	(119,718)	(93,029)
Gross profit	19,123	10,745	50,238	40,142
Other income	2,859	4,439	50,241	11,408
Administration expenses	(7,009)	(7,280)	(21,314)	(18,694)
Finance costs	(2,082)	(1,298)	(6,031)	(4,010)
Profit before tax	12,891	6,606	73,134	28,846
Tax expenses	(3,920)	(2,607)	(11,120)	(9,339)
Profit for the period	8,971	3,999	62,014	19,507
Other comprehensive income,
net of tax
Net movement on cash flow hedges	2,679	7,608	(227)	12,057
Tax relating to cash flow hedges	(643)	(1,826)	54	(2,894)
Total other comprehensive income
for the period, net of tax	2,036	5,782	(173)	9,163
Total comprehensive income for the period	11,007	9,781	61,841	28,670
Profit attributable to:
Owners of the Company	7,983	1,687	58,847	14,518
Non-controlling interests	988	2,312	3,167	4,989
8,971	3,999	62,014	19,507

Total comprehensive income attributable to:

Owners of the Company	10,014	7,474	58,686	23,671
Non-controlling interests	993	2,307	3,155	4,999
11,007	9,781	61,841	28,670
Earnings per share attributable to
owners of the Company:
Basic (sen)	2.86	0.74	21.06	6.38
Diluted (sen)	N/A	0.74	N/A	5.59

The Unaudited Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Financial Statements for the financial year ended 31 January 2016 and the accompanying explanatory notes attached to the interim financial statements.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT AS AT 31.10.16 31.1.16 RM'000 RM'000 ASSETS Non-current assets

Property, plant and equipment	153,703	137,728
Land use rights	5,808	5,912
Biological assets	1,164	1,210
Investment properties	286,694	245,209
Other investment	16,909	7,035
Land held for property development	570,523	569,585
Deferred tax assets	14,280	12,411
Derivative financial assets	18,535	18,192
1,067,616	997,282
Current assets
Property development costs	65,672	39,194
Inventories	77,385	69,393
Trade and other receivables	72,110	48,196
Other current assets	24,038	16,074
Tax recoverable	2,341	1,121
Cash and bank balances	64,948	58,760
306,494	232,738
TOTAL ASSETS	1,374,110	1,230,020
EQUITY AND LIABILITIES
Equity attributable to owners of the Company
Share capital	280,462	280,462
Share premium	19,110	19,110
Treasury shares	(3,100)	(3,094)
Other reserves	82,156	82,316
Retained earnings	516,897	471,661
895,525	850,455
Non-controlling interests	43,583	35,089
Total equity	939,108	885,544
Non-current liabilities
Loans and borrowings	248,897	188,078
Deferred tax liabilities	16,783	14,849
Derivative financial liabilities	3,018	2,448
268,698	205,375
Current liabilities
Trade and other payables	112,206	77,325
Due to customers on contracts	63	119
Loans and borrowings	42,565	58,135
Tax payable	5,881	3,522
Dividend payable	5,589	-
166,304	139,101
Total liabilities	435,002	344,476
TOTAL EQUITY AND LIABILITIES	1,374,110	1,230,020
Net assets per share (RM)	3.20	3.04

The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Statements for the financial year ended 31 January 2016 and the accompanying explanatory notes attached to the interim financial statements.

CRESCENDO CORPORATION BERHAD (Company No. : 359750-D) UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

9 months ended 31 October 2016

Attributable to owners of the Company Non-distributable Distributable ICULS Non- Total Share Share Other (Equity Retained Treasury Controlling Equity Total Capital Premium Reserves Component) Earnings Shares Interests RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Balance as at 1 February 2016 885,544 850,455 280,462 19,110 82,316 - 471,661 (3,094) 35,089 Total comprehensive income 61,842 58,687 - - (160) - 58,847 - 3,155

Transactions with owners
Purchase of treasury shares	(6)	(6)	- - - - -		(6) -
Issue of shares to non-controlling interest	7,500	-	- - - - -		- 7,500
Dilution of interest in subsidiary	-	361	- - - - 361		- (361)
Dividend paid to non-controlling interest	(1,800)	-	- - - - -		- (1,800)
Dividends	(13,972)	(13,972)	- - - - (13,972)		- -
Total transactions with owners	(8,278)	(13,617)	- - - - (13,611)		(6) 5,339
Balance as at 31 October 2016 939,108 895,525 280,462 19,110 82,156 - 516,897 (3,100) 43,583
9 months ended 31 October 2015 Balance as at 1 February 2015	871,881	842,744	228,487 19,110 76,366	43,788 478,054	(3,061)	29,137
Total comprehensive income	28,670	23,671	- - 9,153	- 14,518	-	4,999
Transactions with owners
Purchase of treasury shares	(24)	(24)	- - -	- -	(24)	-
Dividends	(15,922)	(15,922)	- - -	- (15,922)	-	-
Total transactions with owners	(15,946)	(15,946)	- - -	- (15,922)	(24)	-
Balance as at 31 October 2015	884,605	850,469	228,487 19,110 85,519	43,788 476,650	(3,085)	34,136

The Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the Annual Financial Statements for the financial year ended 31 January 2016 and the accompanying explanatory notes attached to the interim financial statements.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 9 MONTHS ENDED Cash flows from operating activities 31.10.16 31.10.15 RM' 000 RM' 000

Cash receipts from customers 180,961 148,554

Cash paid to suppliers and employees (168,645) (153,545)

Cash generated from/(used in) operations 12,316 (4,991) Deposit interest received 919 2,323

Interest paid (9,996) (8,329)

Tax paid (9,860) (18,451)

Net cash used in operating activities (6,621) (29,448)

Cash flows from investing activities

Acquisition of biological assets, land use rights and property, plant

and equipment	(19,818)	(9,495)
Acquisition of investment properties	(127)	(1,494)
Acquisition of other investment	(11,315)	-
Capital realisation from investment	1,440	1,080
Withdrawal/(Pledge) of time deposits	643	(6)
Proceeds from disposal of plant and equipment	69	57
Net cash used in investing activities	(29,108)	(9,858)
Cash flows from financing activities Acquisition of treasury shares	(6)	(24)
Proceeds from loans and borrowings	77,636	7,984
Repayment of loans and borrowings	(34,100)	(24,072)
Dividend paid	(8,383)	(11,373)
Dividend paid to non-controlling interest	(1,800)	-
Proceeds from issuance of shares to non-controlling interest	7,500	-
Net cash from/(used in) financing activities	40,847	(27,485)
Net increase/(decrease) in cash and cash equivalents	5,118	(66,791)
Cash and cash equivalents at the beginning of the financial period	47,132	125,869
Cash and cash equivalents at the end of the financial period	52,250	59,078
Cash and cash equivalents at the end of the financial period Deposits with licensed banks and other financial institution	7,695	31,333
Cash and bank balances	57,253	42,532
Bank overdrafts	(8,110)	(9,558)
56,838	64,307
Time deposits pledged	(4,588)	(5,229)
52,250	59,078

The Unaudited Condensed Consolidated Cash Flow Statement should be read in conjunction with the Annual Financial Statements for the financial year ended 31 January 2016 and the accompanying explanatory notes attached to the interim financial statements.