Wah Seong Corporation Berhad Annual Report 2020

88 WAH SEONG CORPORATION BERHAD Group Company Note 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Gross revenue 29 1,409,107 2,514,916 36,999 20,939 Cost of sales 30 (1,229,435) (2,206,858) - - Gross profit 179,672 308,058 36,999 20,939 Other operating income 64,186 36,528 3,695 2,001 Selling and distribution expenses (31,951) (32,389) - - Administrative and general expenses (213,104) (189,193) (11,483) (7,658) Impairment of non-financial assets (164,045) (34,684) (46,000) - Impairment of financial assets (48,818) (23,439) (74,860) (6,753) Other gains/(losses) - net 31 2,958 (896) - - (Loss)/Profit from operations 32 (211,102) 63,985 (91,649) 8,529 Finance costs 33 (43,391) (54,652) (6,081) (9,070) Share of results of associates 12,942 27,156 - - Share of results of joint ventures (26,473) (30,927) - - (Loss)/Profit before tax (268,024) 5,562 (97,730) (541) Tax (expense)/credit 34 (38,678) 8,005 (940) (2,245) Net (loss)/profit for the financial year (306,702) 13,567 (98,670) (2,786) Net (loss)/profit for the financial year attributable to: Owners of the Company (295,149) 24,136 (98,670) (2,786) Non-controlling interests (11,553) (10,569) - - Net (loss)/profit for the financial year (306,702) 13,567 (98,670) (2,786) (Loss)/Earnings per share computed based on the net (loss)/profit for the financial year attributable to the owners of the Company: - basic and diluted (sen) 35 (38.17) 3.13 STATEMENTS OF PROFIT OR LOSS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020