EX-99.1 2 v448152_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

MOL GLOBAL, INC. AND SUBSIDIARIES

(Incorporated in the Cayman Islands)

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

(UNAUDITED)

	For the six months ended
	June 30, 2015			June 30, 2016			June 30, 2015			June 30, 2016
(In thousands)	MYR			MYR			USD			USD

Revenue		111,885			128,552			29,649			31,938
Direct cost and other ancillary expenses		(62,200	)		(83,901	)		(16,483	)		(20,845	)
Employee expenses		(109,702	)		(24,740	)		(29,071	)		(6,147	)
Depreciation and amortization expenses		(13,724	)		(10,171	)		(3,637	)		(2,527	)
Marketing, advertising and promotion
Expenses		(3,220	)		(3,490	)		(853	)		(867	)
Communication and travelling expenses		(4,265	)		(3,110	)		(1,130	)		(773	)
Office related expenses		(2,765	)		(3,000	)		(733	)		(745	)
Other operating expenses		(10,565	)		(11,203	)		(2,800	)		(2,783	)
Other operating income		3,690			-			978			-
Loss from operations		(90,866	)		(11,063	)		(24,080	)		(2,749	)
Other income		7,491			2,693			1,985			669
Non-operating expenses		-			(3,253	)		-			(808	)
Finance costs		(5,075	)		(2,509	)		(1,345	)		(623	)
Share of results of associates		1			(6	)		-			(1	)
Loss before tax		(88,449	)		(14,138	)		(23,440	)		(3,512	)
Income tax (expense)/credit		(599	)		(401	)		(159	)		(100	)
Loss for the period		(89,048	)		(14,539	)		(23,599	)		(3,612	)

Loss for the period attributable to:-
Owners of the Company		(85,651	)		(15,690	)		(22,699	)		(3,898	)
Non-controlling interests		(3,397	)		1,151			(900	)		286
		(89,048	)		(14,539	)		(23,599	)		(3,612	)

Weighted average ordinary shares (number in thousands)
Basic		66,126			64,867			66,126			64,867
Diluted		66,126			64,867			66,126			64,867
Loss per share
Basic (sen⁽¹⁾/cents)		(129.53	)		(24.19	)		(34.33	)		(6.01	)
Diluted (sen⁽¹⁾/cents)		(129.53	)		(24.19	)		(34.33	)		(6.01	)

⁽¹⁾

Sen is a unit of Malaysian currency. One hundred sen equal one Malaysian Ringgit.

MOL GLOBAL, INC. AND SUBSIDIARIES

(Incorporated in the Cayman Islands)

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

(UNAUDITED)

	For the six months ended
	June 30,			June 30,			June 30,			June 30,
	2015			2016			2015			2016
(In thousands)	MYR			MYR			USD			USD

Loss for the period		(89,048	)		(14,539	)		(23,599	)		(3,612	)

Other comprehensive income/(loss),
net of tax
Items that may be reclassified
subsequently to profit or loss:-
Exchange differences on
translating foreign operations		758			(2,892	)		201			(719	)
Other comprehensive income/(loss)
for the period, net of tax		758			(2,892	)		201			(719	)

Total comprehensive loss for
the period		(88,290	)		(17,431	)		(23,398	)		(4,331	)

Total comprehensive loss for
the period attributable to:-
Owners of the Company		(85,710	)		(17,948	)		(22,714	)		(4,459	)
Non-controlling interests		(2,580	)		517			(684	)		128
		(88,290	)		(17,431	)		(23,398	)		(4,331	)

MOL GLOBAL, INC. AND SUBSIDIARIES

(Incorporated in the Cayman Islands)

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	December 31, 2015			June 30, 2016			December 31, 2015			June 30, 2016
(In thousands)	(Audited) MYR			(Unaudited) MYR			(Audited) USD			(Unaudited) USD

ASSETS
Non-current assets
Property, plant and equipment		11,726			9,925			2,733			2,466
Investment in associates		74			68			17			17
Development expenditure		8,650			9,922			2,016			2,465
Intangible assets		114,232			107,983			26,628			26,828
Finance lease receivables		314			262			73			65
Deferred tax assets		1,119			1,640			261			407
Other receivables, deposits and prepaid expenses		1,066			1,007			248			250
Total non-current assets		137,181			130,807			31,976			32,498

Current assets
Inventories		29,784			44,881			6,943			11,151
Trade receivables		104,105			81,068			24,267			20,141
Other receivables, deposits and prepaid expenses		63,361			61,630			14,769			15,312
Amount due from other related parties		3,844			2,256			896			560
Finance lease receivables		145			132			34			33
Financial asset at fair value through profit or loss		-			-			-			-
Cash and bank balances		94,062			111,177			21,926			27,622
Restricted cash		43,561			9,796			10,154			2,434
Tax recoverable		1,715			711			400			177
Total current assets		340,577			311,651			79,389			77,430
Total assets		477,758			442,458			111,365			109,928

EQUITY AND LIABILITIES
Capital and reserves
Share capital		38,059			38,059			8,872			9,456
Treasury shares		(22,057	)		(22,057	)		(5,141	)		(5,480	)
Reserves		192,651			174,703			44,907			43,404
Equity attributable to owners of the Company		208,653			190,705			48,638			47,380
Put option written on non-controlling interest		(32,944	)		(32,944	)		(7,679	)		(8,185	)
Non-controlling interests		14,195			12,702			3,309			3,156
Total equity		189,904			170,463			44,268			42,351

Non-current liabilities
Borrowings		1,866			1,145			435			284
Financial liability on in-substance forward		26,403			-			6,155			-
Pension liabilities		1,481			1,644			344			409
Deferred tax liabilities		5,959			4,022			1,389			999
Total non-current liabilities		35,709			6,811			8,323			1,692

	December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016
	(Audited)		(Unaudited)		(Audited)		(Unaudited)
(In thousands)	MYR		MYR		USD		USD

Current liabilities
Trade payables		124,577		113,382		29,039		28,170
Other payables and accrued expenses		72,725		64,624		16,952		16,056
Financial liability on in-substance forward		19,858		47,782		4,629		11,871
Amount due to other related parties		1,175		1,492		274		371
Borrowings		15,924		21,531		3,712		5,349
Deferred revenue		15,710		15,196		3,661		3,776
Tax liabilities		2,176		1,177		507		292
Total current liabilities		252,145		265,184		58,774		65,885
Total liabilities		287,854		271,995		67,097		67,577
Total equity and liabilities		477,758		442,458		111,365		109,928

- - - -

MOL GLOBAL, INC. AND SUBSIDIARIES

(Incorporated in the Cayman Islands)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

	December 31,			June 30,			December 31,			June 30,
	2015			2016			2015			2016
	(Audited)			(Unaudited)			(Audited)			(Unaudited)
(In thousands)	MYR			MYR			USD			USD

CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES
Loss before tax		(136,447	)		(14,138	)		(31,806	)		(3,512	)
Adjustments for:-
Share-based compensation expense		85,818			-			20,004			-
Impairment loss on:
- Goodwill		36,857			-			8,591			-
- Intangible assets		1,561			-			364			-
- Trade and other receivables		1,337			-			312			-
- Inventories		1,066			-			248			-
Impairment loss no longer required:
- Inventories		-			(1,019	)		-			(253	)
Depreciation and amortization expenses		28,034			10,171			6,535			2,527
Interest expense		2,201			988			513			245
Inventories written off		1,300			796			303			198
Intangible assets written off		748			-			174			-
Property, plant and equipment written off		247			-			58			-
Bad debts written off		62			783			14			195
Share of results of associates		15			6			3			1
Gain on disposal of financial asset at fair value through profit or loss		(1	)		-			-			-
Net fair value gain on financial asset at fair value through profit or loss		(7	)		-			(2	)		-
Gain on disposal of available-for-sale financial assets		(19	)		-			(4	)		-
Gain on disposal of property, plant and equipment		(23	)		(17	)		(5	)		(4	)
Gain on disposal of investment property		(139	)		-			(32	)		-
Waiver of other payables		(220	)		-			(51	)		-
Unwinding of discount and change in estimates of gross obligations		8,961			1,521			2,089			378
Interest income		(2,164	)		(962	)		(504	)		(239	)
Unrealized (gain)/loss on foreign exchange		(12,114	)		4,400			(2,824	)		1,093
		17,073			2,529			3,980			629
Movement in working capital:
(Increase)/Decrease in:
Finance lease receivables		99			66			23			16
Inventories		(8,307	)		(14,875	)		(1,936	)		(3,696	)
Trade receivables, other receivables, deposit and prepaid expenses		(76,982	)		24,009			(17,945	)		5,965

Increase/(Decrease) in:
Trade payables, other payables and accrued expenses		75,852			(20,935	)		17,681			(5,201	)
Amount due to other related parties		(470	)		1,023			(110	)		254
Deferred revenue		4,588			(514	)		1,069			(128	)
Cash Generated From/(Used In) Operations		11,853			(8,697	)		2,762			(2,161	)
Interest paid		(2,201	)		(988	)		(513	)		(245	)
Income tax refunded		183			-			43			-
Income tax paid		(5,304	)		(2,890	)		(1,236	)		(718	)
Net Cash From/(Used In) Operating Activities		4,531			(12,575	)		1,056			(3,124	)

CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES
(Increase)/Decrease in restricted fixed deposits		(9,168	)		33,764			(2,137	)		8,389
Interest received		2,164			962			504			239
Purchase of property, plant and equipment		(3,536	)		(1,000	)		(824	)		(248	)
Proceeds from disposal of property, plant and equipment		57			20			13			5
Purchase of intangible assets		(7,374	)		(718	)		(1,719	)		(178	)
Development expenditure incurred		(4,499	)		(2,084	)		(1,049	)		(518	)
Proceeds from disposal of investment property		2,500			-			583			-
Proceeds from disposal of available-for-sales financial assets		847			-			197			-
Proceeds from disposal of financial assets at fair value through profit or loss		1,654			-			386			-
Purchase of financial assets at fair value through profit or loss		(1,621	)		-			(378	)		-
Net Cash (Used In)/From Investing Activities		(18,976	)		30,944			(4,424	)		7,689

CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES
Payments for treasury shares		(10,418	)		-			(2,428	)		-
Repayments of finance lease payables		(1,158	)		(1,114	)		(270	)		(277	)
Proceeds from borrowings		38,000			11,211			8,858			2,785
Repayments of borrowings		(76,969	)		(5,210	)		(17,942	)		(1,294	)
Increase of amount due to other related parties		2,706			1,310			631			325
Dividend paid to non-controlling interest		(3,700	)		-			(862	)		-
Capital contribution from non-controlling interest		48			-			11			-
Net Cash (Used In)/From Investing Activities		(51,491	)		6,197			(12,002	)		1,539
Net (decrease)/increase in cash and cash equivalents during the year		(65,936	)		24,566			(15,370	)		6,104
Cash and cash equivalents at beginning of year		150,571			94,062			43,082			21,926
Effect on exchange rate changes		9,427			(7,451	)		(5,786	)		(408	)
Cash and cash equivalents at end of year		94,062			111,177			21,926			27,622