Financial Statements. Directors Report 18. Report of the Auditors 22. Balance Sheets 23. Profit and Loss Accounts 25

Size: px
Start display at page:

Download "Financial Statements. Directors Report 18. Report of the Auditors 22. Balance Sheets 23. Profit and Loss Accounts 25"

Transcription

1 Financial Statements Directors Report 18 Report of the Auditors 22 Balance Sheets 23 Profit and Loss Accounts 25 Consolidated Cash Flow Statement 26 Notes to the Accounts 28 Statement by Directors 49 Declaration by the Officer Primarily Responsible for the Financial Management of the Company 49

2 Directors Report The directors of BRISDALE HOLDINGS BERHAD have pleasure in submitting their report and the audited accounts of the Group and of the Company for the financial year ended 31st December, PRINCIPAL ACTIVITIES is principally involved in property development and investment holdings. The principal activities of the subsidiary companies are set out in Note 6 to the Accounts. There have been no significant changes in the nature of the activities of the Group and of the Company during the financial year. RESULTS OF OPERATIONS The results of operations of the Group and of the Company for the financial year are as follows: Profit before exceptional items, share in results of associated companies and taxation 9,025,448 41,548,600 Exceptional item (759,644) Profit before share in results of associated companies and taxation 8,265,804 41,548,600 Share in results of associated companies (3,037,866) Profit before taxation 5,227,938 41,548,600 Taxation (1,684) (6,033,851) Profit before minority interests 5,226,254 35,514,749 Minority interests 2,890,321 Net profit retained for the year 8,116,575 35,514,749 Unappropriated profit at beginning of year 39,953,260 42,580,362 Unappropriated profit at end of year 48,069,835 78,095,111 In the opinion of the directors, the results of operations of the Group and of the Company during the financial year have not been substantially affected by any item, transaction or event of a material and unusual nature other than the exceptional item mentioned in Note 27 to the Accounts. DIVIDEND No dividend has been proposed or declared by the Company since the end of the previous financial year. The directors also do not recommend any dividend payment in respect of the current financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the accounts. 18 BRISDALE HOLDINGS BERHAD ( V)

3 Directors Report ISSUE OF SHARES AND DEBENTURES has not issued any new shares or debentures during the financial year. SHARE OPTIONS No options have been granted by the Company to any parties during the financial year to take up unissued shares of the Company. No shares have been issued during the financial year by virtue of the exercise of any option to take up unissued shares of the Company. As at the end of the financial year, there were no unissued shares of the Company under options. OTHER FINANCIAL INFOATION Before the profit and loss accounts and the balance sheets of the Group and of the Company were made out, the directors took reasonable steps: (a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts, and have satisfied themselves that no known bad debts need to be written off and that adequate provision for doubtful debts has been made; and (b) to ensure that any current assets which were unlikely to realise their book values in the ordinary course of business have been written down to their estimated realisable values. At the date of this report, the directors are not aware of any circumstances: (a) which would render the amount written off for bad debts or the amount of provision for doubtful debts in the accounts of the Group and of the Company inadequate to any substantial extent; or (b) (c) (d) which would render the values attributed to current assets in the accounts of the Group and of the Company misleading; or which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate; or not otherwise dealt with in this report or accounts which would render any amount stated in the accounts of the Group and of the Company misleading. At the date of this report, there does not exist: (a) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year which secures the liability of any other person; or (b) any contingent liability of the Group and of the Company which has arisen since the end of the financial year. No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which, in the opinion of the directors, will or may substantially affect the ability of the Group and of the Company to meet their obligations as and when they fall due. In the opinion of the directors, no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial year and the date of this report which is likely to affect substantially the results of operations of the Group and of the Company for the succeeding financial year. BRISDALE HOLDINGS BERHAD ( V) 19

4 Directors Report DIRECTORS The following directors served on the Board of the Company since the date of the last report: Dato Haji Zabir Bin Bajuri Dato Sulaiman Bin Samat Tan Sri Dato Dr. Haji Abdul Majid Bin Ismail Tan Sri Dato (Dr) Ir. Chan Ah Chan Chong Yoon Datin Paduka Juma ah Binti Moktar Dato Ir. Haji Mohd Zin Bin Mohamed Dato Idris Bin Denan Datin Paduka Hajjah Seripah Noli Binti Syed Hussin Encik Abdul Rahim Bin Abd. Aziz In accordance with Article 86 of the Company s Articles of Association, Tan Sri Dato (Dr) Ir. Chan Ah Chan Chong Yoon and Datin Paduka Juma ah Binti Moktar retire by rotation and, being eligible, offer themselves for re-election. Tan Sri Dato Dr. Haji Abdul Majid Bin Ismail retires in accordance with Section 129(2) of the Companies Act, 1965 and, being eligible, offers himself for re-election. DIRECTORS INTERESTS The shareholdings of the directors in the Company and in the related companies of those who were directors at the end of the financial year as recorded in the Register of Directors Shareholdings kept by the Company under Section 134 of the Companies Act, 1965, are as follows: Number of shares of 1 each Balance at Balance at Bought Sold Ordinary Shares in the Company Datin Paduka Juma ah Binti Moktar 30,000 30,000 Dato Idris Bin Denan 10,000 10,000 Dato Sulaiman Bin Samat 30,000 4,000 34,000 Tan Sri Dato (Dr) Ir Chan Ah Chan Chong Yoon 5,723,000 5,723,000 Deemed Interest Tan Sri Dato (Dr) Ir Chan Ah Chan Chong Yoon 2,397,000 2,397,000 Ordinary Shares in a subsidiary company, Brisdale Resources Sdn. Bhd. Deemed Interest Tan Sri Dato (Dr) Ir Chan Ah Chan Chong Yoon 255, ,000 The other directors did not hold shares or have any other interest in the shares of the Company or its related companies during the financial year. 20 BRISDALE HOLDINGS BERHAD ( V)

5 Directors Report DIRECTORS BENEFITS Since the end of the previous financial year, none of the directors of the Company has received or become entitled to receive any benefit (other than those disclosed as directors remuneration in the accounts) by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member, or with a company in which he has a substantial financial interest other than any benefit which may deemed to have arisen by virtue of the transactions as disclosed in Notes 6, 7 and 15 to the Accounts. During and at the end of the financial year, no arrangement subsisted to which the Company was a party whereby directors of the Company might acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate. HOLDING COMPANIES is a subsidiary company of Kumpulan Darul Ehsan Berhad, a company incorporated in Malaysia. The Directors regard Menteri Besar of Selangor Incorporated as the ultimate holding company. AUDIT COMMITTEE In compliance with the listing requirements of the Kuala Lumpur Stock Exchange (KLSE), the audit committee was established on 20th May, The directors who served on the audit committee are as follows: Tan Sri Dato Dr. Haji Abdul Majid Bin Ismail Datin Paduka Juma ah Binti Moktar Dato Idris Bin Denan The functions of the audit committee as stipulated in the KLSE listing requirements include discussion and review with the management, internal auditors and external auditors of the Company, the scope and results of the internal and statutory audits, financial and reporting results, internal controls, accounting policies and other significant matters, including the annual accounts which accompany this report. AUDITORS The auditors, Messrs. Kassim Chan & Co., have indicated their willingness to continue in office. Signed on behalf of the Board in accordance with a resolution of the Directors, DATO HAJI ZABIR BIN BAJURI DATO SULAIMAN BIN SAMAT Petaling Jaya, 9th March, 2000 BRISDALE HOLDINGS BERHAD ( V) 21

6 Report of the Auditors TO THE MEMBERS OF BRISDALE HOLDINGS BERHAD We have audited the accompanying balance sheets as of 31st December, 1999 and the related profit and loss accounts and consolidated cash flow statement, together with the notes thereto, for the year then ended. These accounts are the responsibility of the Company s directors. Our responsibility is to express an opinion on these accounts based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the accounts are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the accounts. An audit also includes assessing the accounting principles used and significant estimates made by the directors, as well as evaluating the overall accounts presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion: (a) the abovementioned accounts are properly drawn up in accordance with the provisions of the Companies Act, 1965 and applicable approved accounting standards in Malaysia so as to give a true and fair view of: (i) the state of affairs of the Group and of the Company at 31st December, 1999 and of the results of the Group and of the Company and cash flows of the Group for the year ended on that date; and (ii) the matters required by Section 169 of the Act to be dealt with in the accounts and consolidated accounts; and (b) the accounting and other records and the registers required by the Act to be kept by the Company and by the subsidiary companies have been properly kept in accordance with the provisions of the Act. We are satisfied that the accounts of the subsidiary companies that have been consolidated with the accounts of the Company are in form and content appropriate and proper for the purposes of the preparation of the consolidated accounts, and we have received satisfactory information and explanations as required by us for these purposes. Our auditors reports on the accounts of the subsidiary companies were not subject to any qualification and did not include any comment made under Sub-section (3) of Section 174 of the Act. KASSIM CHAN & CO. AF 0080 Public Accountants AHMAD MUSTAPHA GHAZALI 889/3/02 (J/PH) Partner 9th March, BRISDALE HOLDINGS BERHAD ( V)

7 Balance Sheets Note FIXED ASSETS 4 52,074,601 53,672, ,720 1,010,742 PROPERTY DEVELOPMENT PROJECTS non-current portion 5 300,970, ,768, ,982, ,028,039 INVESTMENT IN SUBSIDIARY COMPANIES 6 110,788,751 91,662,948 INVESTMENT IN ASSOCIATED COMPANIES 7 2,566,823 10,264,332 CLUB DEVELOPMENT EXPENDITURE 8 275, ,702 EXPENDITURE CARRIED FORWARD 9 81,339 79,088 CURRENT ASSETS Property development projects current portion 5 13,359,301 46,086,702 11,252,300 19,131,178 Stocks , ,434 Trade debtors 12 & 15 74,150,702 37,271,188 44,580,365 25,592,434 Other debtors, deposits and prepayments 15 & 16 38,484,696 48,133,294 6,205,482 4,702,797 Deposits with licensed banks ,359 1,618, ,106 1,350,000 Cash and bank balances 14 10,422,446 12,940,346 4,017,418 4,559, ,626, ,273,341 66,710,671 55,335,502 CURRENT LIABILITIES Trade creditors 56,261,091 56,015,799 43,147,913 39,955,269 Retention monies 15 27,913,634 29,383,001 14,402,126 13,820,645 Other creditors and accruals 15 & 22 72,819,190 48,252,062 9,989,352 4,240,923 Amount owing to immediate holding company current portion 11 40,849,108 48,670,000 39,254,858 48,670,000 Hire-purchase creditors current portion , ,207 25,631 72,830 Bank borrowings 18 4,864,647 3,893,125 Bridging loans - current portion 19 1,250,000 Long-term loans - current portion 20 29,559,753 8,999,998 9,759,759 Liability under bank guarantee current portion 21 5,140,000 Provision for taxation 16,769,433 19,822,816 16,481,102 17,763, ,037, ,025, ,060, ,523,585 BRISDALE HOLDINGS BERHAD ( V) 23

8 Balance Sheets Note NET CURRENT LIABILITIES (113,411,234) (74,751,667) (66,350,070) (69,188,083) LONG-TE AND DEFERRED LIABILITIES Hire-purchase creditors non-current portion ,510 1,343,328 68, ,345 Bridging loan non-current portion 19 2,750,000 Long-term loans non-current portion 20 15,755,237 45,279,154 14,723,921 Amount owing to a related company non-current portion 22 18,000,000 30,000,000 Deferred membership income 23 2,694,787 3,014,267 Members security deposit 170, ,640 Deferred taxation 183, ,796 19,000 19,000 (40,197,396) (80,699,185) (87,781) (15,018,266) 202,360, ,685, ,010, ,495,380 REPRESENTED BY: SHARE CAPITAL ,000, ,000, ,000, ,000,002 SHARE PREMIUM 20,915,016 20,915,016 20,915,016 20,915,016 RESERVE ON CONSOLIDATION 30 11,029,298 13,781,371 UNAPPROPRIATED PROFIT 25 48,069,835 39,953,260 78,095,111 42,580,362 SHAREHOLDERS EQUITY 200,014, ,649, ,010, ,495,380 MINORITY INTERESTS 2,345,873 13,036, ,360, ,685, ,010, ,495,380 The accompanying Notes form an integral part of the Accounts. 24 BRISDALE HOLDINGS BERHAD ( V)

9 Profit and Loss Accounts FOR THE YEAR ENDED 31ST DECEMBER, 1999 Note TURNOVER 80,908,042 94,765,524 59,246,300 69,699,659 PROFIT BEFORE EXCEPTIONAL ITEM, SHARE IN RESULTS OF ASSOCIATED COMPANIES AND TAXATION 26 9,025,448 8,863,253 41,548,600 18,813,098 EXCEPTIONAL ITEM 27 (759,644) (3,528,000) (3,528,000) PROFIT BEFORE SHARE IN RESULTS OF ASSOCIATED COMPANIES AND TAXATION 8,265,804 5,335,253 41,548,600 15,285,098 SHARE IN RESULTS OF ASSOCIATED COMPANIES (3,037,866) 770,097 PROFIT BEFORE TAXATION 5,227,938 6,105,350 41,548,600 15,285,098 TAXATION 28 (1,684) (5,871,629) (6,033,851) (3,777,263) PROFIT BEFORE MINORITY INTERESTS 5,226, ,721 35,514,749 11,507,835 MINORITY INTERESTS 2,890,321 1,857,602 NET PROFIT RETAINED FOR THE YEAR 8,116,575 2,091,323 35,514,749 11,507,835 UNAPPROPRIATED PROFIT AT BEGINNING OF YEAR 39,953,260 37,861,937 42,580,362 31,072,527 UNAPPROPRIATED PROFIT AT END OF YEAR 48,069,835 39,953,260 78,095,111 42,580,362 BASIC EARNINGS PER ORDINARY SHARE OF 1 EACH (SEN) The accompanying Notes form an integral part of the Accounts. BRISDALE HOLDINGS BERHAD ( V) 25

10 Consolidated Cash Flow Statement FOR THE YEAR ENDED 31ST DECEMBER, 1999 Note CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 5,227,938 6,105,350 Adjustments for: Interest expenses 4,404,715 3,233,182 Share in results of associated companies 3,037,866 (770,097) Depreciation of fixed assets 2,220,010 2,025,239 Loss on disposal of investment in associated company 759,644 Amortisation of club development expenditure 76,240 76,241 Fixed assets written off 1,981 Reserve on consolidation realised (2,752,073) Interest income (646,396) (2,056,442) Amortisation of deferred membership income (345,145) (374,133) Loss/(Gain) on disposal of fixed assets (3,778) 189,820 Provision for diminution in value of investment 3,528,000 Expenditure carried forward written off 5,269 Operating Profit Before Working Capital Changes 11,981,002 11,962,429 Decrease/(Increase)in stocks (56,161) 53,382 Increase in trade debtors (36,879,514) (5,204,813) Increase in other debtors, deposits and prepayments 9,648,598 (3,004,322) Increase/(Decrease) in trade creditors 245,292 1,585,208 Increase in retention monies (1,469,367) 7,206,573 Increase in other creditors and accruals 7,427,128 8,717,396 Decrease in amount owing to immediate holding company (7,820,892) (114,029) Increase in deferred membership income 25, ,951 Decrease in amount owing by associated company 334,950 (Increase)/Decrease in property development projects 30,525,645 (38,586,317) Net Cash From/(Used In) Operations 13,627,396 (16,939,592) Interest income 646,396 2,056,442 Interest paid (4,404,715) (3,233,182) Income taxes paid (3,763,642) (9,327,284) Preliminary and pre-operating expenses incurred (2,251) (77,320) Net Cash From/(Used In) Operating Activities 6,103,184 (27,520,936) 26 BRISDALE HOLDINGS BERHAD ( V)

11 Consolidated Cash Flow Statement FOR THE YEAR ENDED 31ST DECEMBER, 1999 Note CASH FLOWS FROM INVESTING ACTIVITIES Dividends received from an associated company 2,200,000 Proceeds from disposal of investment in associated company 1,700,000 Proceeds from disposal of fixed assets 15, ,929 Dividend paid to minority shareholders (7,800,000) Purchase of fixed assets (635,198) (1,537,949) Dividends paid to shareholders of the Company (5,184,000) Net Cash Used In Investing Activities (4,519,914) (6,443,020) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from bridging loans 4,000,000 Repayment of long-term loans (8,964,162) (8,411,243) Repayment of hire-purchase creditors (797,548) (1,058,421) Placement of deposits with licensed bank (80,943) (128,392) Proceeds from long-term loans 27,684,448 Proceeds from hire-purchase creditors 561,767 Repayment of bridging loans (6,716,400) Net Cash (Used In)/From Financing Activities (5,842,653) 11,931,759 NET DECREASE IN CASH AND CASH EQUIVALENTS (4,259,383) (22,032,197) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 9,875,348 31,907,545 CASH AND CASH EQUIVALENTS AT END OF YEAR 31 5,615,965 9,875,348 The accompanying Notes form an integral part of the Accounts. BRISDALE HOLDINGS BERHAD ( V) 27

12 1. PRINCIPAL ACTIVITIES is principally involved in property development and investment holdings. The principal activities of the subsidiary companies are set out in Note 6. There have been no significant changes in the nature of the activities of the Group and of the Company during the financial year. 2. BASIS OF PREPARATION OF THE ACCOUNTS The accounts of the Group and of the Company have been prepared in accordance with the provisions of the Companies Act, 1965 and applicable approved accounting standards of the Malaysian Accounting Standards Board. 3. SIGNIFICANT ACCOUNTING POLICIES. Accounting Basis The accounts of the Group and of the Company have been prepared under the historical cost convention. Basis of Consolidation The consolidated accounts include the accounts of the Company and its subsidiary companies (Note 6) made up to 31st December, Significant inter-company balances and transactions are eliminated on consolidation. The results of the subsidiary companies acquired or disposed during the financial year are included in the Group accounts from the effective date of acquisition or disposal. Reserve on consolidation represents the excess of the fair value attributable to the related net assets of the subsidiary companies at the date of acquisition over the cost of the Company s investment in the subsidiary companies. Fixed Assets And Depreciation Fixed assets are stated at cost less accumulated depreciation. Fixed assets, other than freehold land which are not depreciated, are depreciated on a straight-line method at rates calculated to write off the cost of the assets over their estimated useful lives. The annual rates used are as follows: Freehold clubhouse 2% Freehold buildings 2% Equipment, furniture and fittings 10% 25% Motor vehicles 20% Leased Assets Assets under lease which in substance transfer the risks and benefits of ownership of the assets to the Group and the Company are capitalised under fixed assets. The fixed assets and the corresponding lease obligations are recorded at the lower of the present value of the minimum lease payments or the fair value of the leased assets at the beginning of the respective lease terms. Leases which do not meet such criteria are classified as operating leases and the related rentals are charged to profit and loss accounts as incurred. 28 BRISDALE HOLDINGS BERHAD ( V)

13 Assets Acquired Under Hire-Purchase Fixed assets acquired under hire-purchase arrangements are capitalised in the accounts and the corresponding obligations treated as liabilities. Finance charges are allocated to the profit and loss account to give a constant periodic rate of interest on the remaining hire-purchase liabilities. Investments Investments in subsidiary companies, which are eliminated on consolidation, and investment in associated companies are stated at cost in the Company s accounts less provision for permanent diminution if any, in value of the investments. Other investment held for long-term purpose are stated at cost. Investments are only written down when the directors consider that there is a permanent diminution in the value of the investments. Associated Companies Associated companies are non-subsidiary companies in which the Group holds as long-term investment not less than 20% of the equity voting rights and in which the Group is in a position to exercise significant influence in its management. s investment in the associated companies are accounted for in the Group accounts by the equity method of accounting based on audited accounts of the associated companies made up 31st March, 1999 or to 31st August, 1999 and adjusted to 31st December, 1999 based on management accounts. Under this method of accounting, the Company s equity in net earnings of the associated companies are included currently in the consolidated results. Property Development Projects Property development projects consist of costs of freehold and long leasehold land and related development expenditure incurred, and portion of profit attributable to the development work performed to date, less applicable progress billings. The cost of freehold and long leasehold land included in the current portion of the property development projects is stated at the lower of cost and net realisable value. Interest costs incurred on the development of property development projects are capitalised and included as part of development expenditure. Income and cost of property development projects are recognised in the profit and loss account using the percentage of completion method. and the Company consider as current assets that portion of property development projects on which significant development work has been done and is expected to be completed within normal operating cycle of two to three years. Stocks Stocks are valued at the lower of cost and net realisable value. The cost of completed units of properties is determined on the specific identification method. The cost of consumables is determined on first-in, first-out basis and includes the purchase price plus cost incurred in bringing the stocks to the present condition and location. BRISDALE HOLDINGS BERHAD ( V) 29

14 Debtors Bad debts are written off while provision for doubtful debts are made for debts considered to be doubtful of collection. Club Development Expenditure All initial expenditure incurred in relation to the securing of club memberships have been deferred and charged to club development expenditure. This expenditure incurred by an indirect subsidiary company is amortised evenly over a period of 120 months commencing June Expenditure Carried Forward Expenditure carried forward, which consists of preliminary and pre-operating expenses, is stated at cost and will be written off in the year the subsidiary company commences operations. Deferred Membership Income Deferred membership income of an indirect subsidiary company, which represents the non-refundable entrance fees received from club members, is amortised evenly in the profit and loss account over a period 120 months commencing June Turnover Turnover of the Company represents the proportionate aggregate sales value of the property development projects attributable to the percentage of development work performed during the financial year, net of sales value of units forfeited. Turnover of the Group represents the proportionate aggregate sales value of the property development projects attributable to the percentage of development work performed during the financial year, net of sales value of units forfeited, project management fees and income earned from hospitality and recreational services rendered. Group s turnover does not include the applicable share of associated companies turnover. Development expenditure charged out as cost of sales in the profit and loss account for the Group and the Company amounted to 57,039,881 (70,534,609 in 1998) and 33,654,901 (47,165,968 in 1998) respectively. Taxation The tax effects of transactions are recognised, using the liability method, in the year such transactions enter into the determination of net income regardless of when they are recognised for tax purposes. Deferred taxation is provided on timing differences resulting mainly from differences between tax capital allowances and book depreciation of fixed assets and differences between the method of recognising certain project expenses for tax purposes and that used for accounting purposes. Cash And Cash Equivalents Cash equivalents are short-term, highly liquid investments with maturities of three months or less from the date of acquisition and are readily convertible to cash without significant changes in value. 30 BRISDALE HOLDINGS BERHAD ( V)

15 4. FIXED ASSETS Fixed assets consist of the following: Freehold Freehold Equipment, land and land and furniture Motor 1999 clubhouse buildings and fittings vehicles Total COST At beginning of year 13,920,624 35,549,131 6,008,658 2,642,583 58,120,996 Additions 28, , , ,198 Disposals/Write-off (11,471) (12,719) (24,190) At end of year 13,949,259 35,699,060 6,453,821 2,629,864 58,732,004 ACCUMULATED DEPRECIATION At beginning of year 441,515 1,326,955 1,561,575 1,118,051 4,448,096 Current depreciation 171, , , ,056 2,220,010 Disposals/Write-off (5,953) (4,750) (10,703) At end of year 613,196 2,108,215 2,303,635 1,632,357 6,657,403 NET BOOK VALUE At ,336,063 33,590,845 4,150, ,507 52,074, COST At beginning of year 13,920,624 35,497,100 5,575,870 2,247,020 57,240,614 Additions 248, , ,489 1,537,949 Disposals (196,514) (154,127) (306,926) (657,567) At end of year 13,920,624 35,549,131 6,008,658 2,642,583 58,120,996 ACCUMULATED DEPRECIATION At beginning of year 270, ,886 1,051, ,808 2,611,675 Current depreciation 171, , , ,235 2,025,239 Disposals (50,031) (67,795) (70,992) (188,818) At end of year 441,515 1,326,955 1,561,575 1,118,051 4,448,096 NET BOOK VALUE At ,479,109 34,222,176 4,447,083 1,524,532 53,672,900 BRISDALE HOLDINGS BERHAD ( V) 31

16 Equipment, Motor furniture vehicle under and fittings hire-purchase Total 1999 COST At beginning of year 679, ,258 1,199,224 Additions 121, ,276 Disposals (3,292) (3,292) Transfer to subsidiary company (308,704) (308,704) Balance at end of year 797, ,554 1,008,504 ACCUMULATED DEPRECIATION At beginning of year 159,786 28, ,482 Current depreciation 117,723 42, ,834 Disposals (1,097) (1,097) Transfer to subsidiary company (15,435) (15,435) Balance at end of year 276,412 55, ,784 NET BOOK VALUE At , , , COST At beginning of year 474, , ,191 Additions 205, , ,787 Disposals (302,754) (302,754) Balance at end of year 679, ,258 1,199,224 ACCUMULATED DEPRECIATION At beginning of year 74,480 20,184 94,664 Current depreciation 85,306 79, ,461 Disposals (70,643) (70,643) Balance at end of year 159,786 28, ,482 NET BOOK VALUE At , ,562 1,010, BRISDALE HOLDINGS BERHAD ( V)

17 Included in the fixed assets of the Group are the following assets which are acquired under hire-purchase: Net Book Value Motor vehicles 931,666 1,336,839 Furniture and fittings under hire-purchase 425, ,563 Office equipment under hire-purchase 271, , PROPERTY DEVELOPMENT PROJECTS Property development projects consist of: Land at cost: Freehold 72,741,970 71,922,480 Long leasehold 149,713, ,307, ,433, ,100,000 Development expenditure 579,561, ,149, ,672, ,484, ,016, ,379, ,105, ,584,695 Less: Non-current portion (300,970,429) (298,768,673) (173,982,509) (175,028,039) 501,046, ,610, ,123, ,556,656 Add: Portion of profit attributable 176,721, ,522, ,792,952 80,201, ,767, ,133, ,915, ,758,208 Less: Progress billings (664,408,349) (564,046,743) (329,663,663) (263,627,030) Current portion 13,359,301 46,086,702 11,252,300 19,131,178 Current year charges to the property development expenditure included the following: Interest payable on: Term loan from third parties 2,033,287 2,398,727 1,200,410 2,398,727 Term loan from immediate holding company (Note 20) 1,600, ,877 Bridging loans 19, ,037 Construction cost charged by a company in which a director is also a director of the Company 1,135,677 Management fee payable to a subsidiary company 272,147 BRISDALE HOLDINGS BERHAD ( V) 33

18 6. INVESTMENT IN SUBSIDIARY COMPANIES The investment in subsidiary companies are as follows: Unquoted shares, at cost 49,827,138 49,827,138 Amount owing by subsidiary companies 60,979,508 45,025,543 Amount owing to subsidiary companies (17,895) (3,189,733) 110,788,751 91,662,948 The amount owing by/(to) subsidiary companies are interest-free and unsecured with no fixed terms of repayment. The subsidiary companies, all incorporated in Malaysia, are as follows: Effective Percentage of Ownership % % Principal Activities Direct Subsidiary Companies Pembangunan Brisdale Sdn. Bhd Property development and project management Brisdale Resources Sdn. Bhd Property development Konsortium Lebuhraya Beruntung Genting Sdn. Bhd Dormant Brisdale Assets Sdn. Bhd Hotel management services Brisdale Technology Sdn. Bhd. 100 Dormant Indirect Subsidiary Companies Brisdale Housing Sdn. Bhd Property development Brisdale International Hotel Sdn. Bhd Property investment Kelab Rekreasi Brisdale Berhad Club operator Brisdale Development Sdn. Bhd Property development Brisdale Brooklands Development Sdn. Bhd Property investment and development Brisdale Project Management Sdn. Bhd Project management Brisdale Property Management Sdn. Bhd Property management Brisdale Rasa Development Sdn. Bhd Property development Lindung Malam Sdn. Bhd. (Formerly known as Brisdale International Hotel Management Sdn. Bhd.) # Dormant + Held through Pembangunan Brisdale Sdn. Bhd. # Held through Brisdale International Hotel Sdn. Bhd. 34 BRISDALE HOLDINGS BERHAD ( V)

19 During the financial year, the Company entered into an agreement with a company in which a director is also a director of the Company to acquire the remaining 33.3% equity interest in Brisdale Resources Sdn. Bhd. for a purchase consideration of 3,800,000. The transaction has not been taken up in the accounts for the current financial year as it is still pending approval from the shareholders of the Company. 7. INVESTMENT IN ASSOCIATED COMPANIES Investment in associated companies consists of: Ordinary shares unquoted 5,257,000 7,167,488 3,528,000 3,528,000 Less: Provision for diminution in value of investment (3,528,000) (3,528,000) (3,528,000) (3,528,000) 1,729,000 3,639,488 Share in pre-acquisition profits 3,737,355 4,159,294 Carrying value of acquisition 5,466,355 7,798,782 Cumulative share in post-acquisition results (2,899,532) 2,465,550 *2,566,823 10,264,332 Amount owing by associated company 318, , , ,001 Less: Provision for doubtful debt (318,001) (343,001) (318,001) (343,001) 2,566,823 10,264,332 * The analysis of associated companies is as follows: Share of net tangible assets 933,993 7,145,813 Share of intangible assets 26,213 1, ,206 7,147,227 Premium on acquisition 1,606,617 3,117,105 2,566,823 10,264,332 BRISDALE HOLDINGS BERHAD ( V) 35

20 The associated companies, all incorporated in Malaysia, are as follows: Effective Percentage of Ownership % % Principal Activities Direct associated company Gemapantas Sdn. Bhd. # Investment holding Associated companies held through Pembangunan Brisdale Sdn. Bhd. Kelina Sdn. Bhd Investment holding Awan Putih Sdn. Bhd* Dormant Tenaga Gagah Sdn. Bhd. 40 Property development + Kelina Sdn. Bhd. holds 40% (40% in 1998) interest in Intan Payong Sdn. Bhd. (Intan) and 100% (100% in 1998) interest in Insa-Nikmat Sdn. Bhd. (Insa), both companies incorporated in Malaysia. Intan is principally involved in property development and Insa is pre-operating. * The shares are held in trust by a third party. # Gemapantas Sdn. Bhd. holds 60% (60% in 1998) interest in Beruntung Transport City Sdn. Bhd., a company incorporated in Malaysia. Beruntung Transport City Sdn. Bhd. has not commenced operation as at 31st December, During the financial year, the Company disposed of its entire equity interest in Tenaga Gagah Sdn. Bhd. to a company in which a director of the Company is also director, for a consideraton of 1.7 million. The loss on disposal of 759,644 has been reflected as an exceptional item in the profit and loss account for the current financial year. (Note 27) The amount owing by associated company mainly consists of payments made on behalf and unsecured advances which are interest-free with no fixed terms of repayment. 8. CLUB DEVELOPMENT EXPENDITURE Club development expenditure of the Group consists of the following: Club development expenditure 496, ,785 Less: Accumulated amortisation (221,323) (145,083) 275, , BRISDALE HOLDINGS BERHAD ( V)

21 9. EXPENDITURE CARRIED FORWARD Preliminary expenses 3,942 5,907 Pre-operating expenses 77,397 78,450 81,339 84,357 Less: Amount written off (5,269) 81,339 79,088 Included in pre-operating expenses of the Group is audit fee of 1,500 (1,000 in 1998) incurred during the current financial year. 10. STOCKS Stocks, pertaining to the subsidiary companies, consist of the following: Completed houses 140, ,000 Consumables 139,595 83, , , HOLDING COMPANIES AND RELATED COMPANIES is a subsidiary company of Kumpulan Darul Ehsan Berhad, a company incorporated in Malaysia. The Directors regard Menteri Besar of Selangor Incorporated as the ultimate holding company. The amount owing to immediate holding company consists of: Total outstanding 40,849,108 48,670,000 39,254,858 48,670,000 Less: Portion due within one year included under current liabilities (40,849,108) (48,670,000) (39,254,858) (48,670,000) Non-current portion The amount owing to the immediate holding company, Kumpulan Darul Ehsan Berhad (KDE), consists mainly of the balance of the consideration payable for the acquisition of three pieces of land in The amount owing is unsecured and interest-free except for an amount of 2,250,000 which bears interest at the rate of 8% per annum (Nil in 1998). Interest charged during the financial year amounted to 78,608 (Nil in 1998). The amount owing is repayable in full on or before 31st May, However, the Company is in the process of negotiating a scheme of repayment with KDE. BRISDALE HOLDINGS BERHAD ( V) 37

22 12. TRADE DEBTORS Trade debtors 75,104,724 38,232,234 44,580,365 25,592,434 Less: Provision for doubtful debts (954,022) (961,046) Net 74,150,702 37,271,188 44,580,365 25,592,434 Included under trade debtors of the Group and of the Company are amounts of 35,819,189 (4,853,328 in 1998) and 20,015,316 (4,853,328 in 1998) respectively, representing unbilled receivable. 13. DEPOSITS WITH LICENSED BANKS Included under deposits with licensed banks of the Group and of the Company is an amount of 871,193 (790,250 in 1998) and 650,000 (650,000 in 1998) respectively, placed with licensed banks as security for bank guarantee facilities granted to the Group and the Company. 14. CASH AND BANK BALANCES Included under the cash and bank balances of the Group and the Company is an amount of 5,393,651 (8,800,702 in 1998) and 550,089 (2,876,784 in 1998) respectively, deposited into Housing Development Accounts in accordance with Section 7 (A) of the Housing Developers (Control and Licensing) Act, These accounts, which consist of monies received from purchasers and interest credited thereon, are for the payment of property development expenditure incurred. The surplus monies, if any, will be released to the subsidiary companies upon the completion of the property development projects and after all property development expenditure had been fully settled. 15. RELATED PARTY TRANSACTIONS Trade debtors 3,290,664 1,598,721 Retention sum 1,741,361 1,741,361 Other creditors and accruals 579, ,005 Other debtors, deposits and prepayments 8,483 1,887,509 Trade debtors arose from progress billings invoiced in current and prior years to certain directors of a subsidiary company and to companies in which one of the directors of the Company hold directorship or has an interest. Other debtors, deposits and prepayments and other creditors and accruals represents mainly payments made on behalf, which are interest-free with no fixed term of repayment, with companies in which certain directors of the Company hold directorship. Retention monies arose from construction costs charged by a company in which a director of the Company hold directorship. 38 BRISDALE HOLDINGS BERHAD ( V)

23 In previous financial years, the Company approved the sale of certain completed units, amounting to 6,085,700, to two directors of a subsidiary company. Pending the signing of the related sale and purchase agreements, the said directors received rental income of 80,600 (Nil in 1998) during the financial year in respect of the said completed units. During the financial year, significant related party transactions, the pricing of which is based on commercial terms, consist of the following: Sale of completed properties 114,080 Office rental payable 32,400 Progress billings invoiced 78,460 Construction cost charged by a company in which a director has interest 1,135,677 Also, during the financial year, a discount of 20% was given by a subsidiary company to a director of the Company for the purchase of certain commercial properties at the purchase price of 467,500. This purchase is subject to the approval of the shareholders of the Company. 16. OTHER DEBTORS, DEPOSITS AND PREPAYMENTS Other debtors, deposits and prepayments 38,897,050 48,579,281 6,205,482 4,702,797 Less: Provision for doubtful debts (412,354) (445,987) Net 38,484,696 48,133,294 6,205,482 4,702,797 Also included under other debtors, deposits and prepayments is an amount of 25,468,000 (25,468,000 in 1998) representing deposits paid by an indirect subsidiary company to a third party for the purchase of a piece of land. The purchase of this land was not approved by the shareholders of the Company at an Extraordinary General Meeting held in December 1997 and accordingly, the Company is in the process of pursuing the refund of the deposit through legal proceedings from the said third party pursuant to the terms of the Sale and Purchase Agreement. 17. HIRE-PURCHASE CREDITORS Hire-purchase creditors consist of: Total outstanding 1,393,987 2,191,535 94, ,175 Less: Portion due within one year included under current liabilities 750, ,207 25,631 72,830 Non-current portion 643,510 1,343,328 68, ,345 BRISDALE HOLDINGS BERHAD ( V) 39

24 The interest rates implicit in the hire-purchase obligations range from 5.75% to 9.5% per annum (5.75% to 7.25% per annum in 1998) and the non-current portion as at 31st December, 1999 is repayable as follows: 31st December, ,751 25,631 31st December, ,880 25,631 31st December, ,879 17, ,510 68, BANK BORROWINGS Bank borrowings of the Group consist of: Bank overdrafts 4,864,647 3,893,125 Subsidiary Companies The overdraft facility of 1.98 million (1.98 million in 1998), pertaining to a subsidiary company, was obtained from a local licensed bank. The overdraft facility is secured by a fixed charge over the property development project of the subsidiary company and is jointly and severally guaranteed by the immediate holding company of the said subsidiary company and also by a director of the Company and other third parties. The bank overdraft facility bears interest at rates ranging from 8.8% to 10.0% per annum (10.5% to 14.1% per annum in 1998). An overdraft facility of 3 million (3 million in 1998), pertaining to another subsidiary company, was obtained from a local licensed bank. The said facility bears interest at rates ranging from 10.05% to 11.3% per annum (11.75% to 14.35% per annum in 1998) and is secured by a corporate guarantee from the immediate holding company of the said subsidiary company. 19. BRIDGING LOANS (UNSECURED) The bridging loans of the Group consist of: Total principal outstanding 4,000,000 Less: Portion due within one year included under current liabilities (1,250,000) Non-current portion 2,750, BRISDALE HOLDINGS BERHAD ( V)

25 During the financial year, one of the indirect subsidiary companies obtained a bridging loan facility of 30 million from a licensed bank. The loan bears interest at the rate of 8.55% per annum and is repayable either by way of 25 equal instalments of 1,250,000 commencing 9th December, 2000 or by way of redemption of units, whichever is earlier. The loan facility is secured by the following: i) a first legal charge over certain property development projects of the said subsidiary company; ii) iii) assignment of sales proceeds of certain units of property development project; and a corporate guarantee by the Company. 20. LONG-TE LOANS The long-term loans of the Group and of the Company consist of: Total principal outstanding 45,314,990 54,279,152 9,759,759 14,723,921 Less: Portion due within one year included under current liabilities (29,559,753) (8,999,998) (9,759,759) Non-current portion 15,755,237 45,279,154 14,723,921 obtained a syndicated loan of 48 million (48 million in 1998) from four local banks. The loan, which bears interest ranging from 9.30% to 10.55% per annum (10.55% to 14.8% per annum in 1998), is secured by the following: i) First legal charge over the Company s property development project land; and ii) Deed of assignment of all sales proceeds and project accounts from the said housing project of the Company. The syndicated loan is repayable by eleven quarterly instalments ranging from 3 million to 5 million commencing April 1998, or by redemption of titles charged to the bank, whichever is earlier. Pembangunan Brisdale Sdn. Bhd. (PBSB) In 1998, PBSB has obtained a soft term loan amounting to 20 million from its intermediate holding company, Kumpulan Darul Ehsan Berhad (KDE), to part finance PBSB s property development projects. The loan, which is unsecured, has been fully drawndown and bears interest at an interest rate of 8% (8% in 1998) per annum. The loan is repayable by 23 monthly equal instalments of 833,333 and a final instalment of 833,341 commencing June 1999 or by way of redemption of titles, whichever is earlier. During the financial year, interest charged by KDE amounted to 1,600,000 (832,877 in 1998). BRISDALE HOLDINGS BERHAD ( V) 41

26 One of the subsidiary companies of PBSB has a term loan facility of 22 million (22 million in 1998) from a local financial institution. The loan, which bears interest at rates ranging from 8.1% to 12% per annum (10.6% to 21.5% per annum in 1998), is secured by the following: i) First fixed charge on the freehold land and building of the said subsidiary company; ii) iii) iv) Debentures incorporating fixed and floating charges over all other assets, reserves, rights and benefits of the said subsidiary company; Personal guarantee by a director of the Company; and A corporate guarantee by the immediate holding company of the said subsidiary company and the Company. The term loan is repayable by 14 quarterly instalments of varying instalments commencing July As at 31st December, 1999, the non-current portion is repayable as follows: 31st December, ,400,000 31st December, ,355,237 15,755, LIABILITY UNDER BANK GUARANTEE Liability under bank guarantee, pertaining to an indirect subsidiary company, consists of the following: Total amount outstanding 10,280,000 10,280,000 Less: Portion covered under bank guarantee included under current liabilities (5,140,000) Portion not covered under bank guarantee included under other creditors and accruals (10,280,000) (5,140,000) Non-current portion The indirect subsidiary company, Brisdale Development Sdn Bhd, entered into a privatisation cum development agreement with the Johor State Government for the privatised development of Larkin Perdana. All costs to be incurred in connection with the alienation by the Johor State Government of the leasehold land to be developed will be borne by the said subsidiary company. Pursuant to the agreement, Brisdale Development Sdn Bhd is also committed to bear other than the above development costs, an amount of 20,280,000 which represents costs payable to the Johor State Government for the alienation of the said leasehold land. As at 31st December, 1999, the total cost of 20,280,000 has been capitalised in the Group s accounts under property development projects. 42 BRISDALE HOLDINGS BERHAD ( V)

27 22. AMOUNT OWING TO A RELATED COMPANY Total amount outstanding 53,000,000 53,000,000 Less: Portion due within one year included under other creditors and accruals (35,000,000) (23,000,000) Non-current portion 18,000,000 30,000,000 Amount owing to a related company, SAP Holdings Berhad, represents the balance of the consideration payable by an indirect subsidiary company for the acquisition of a parcel of land in 1996 amounting to 60 million. The balance outstanding of 53 million, which is interest-free, is repayable by 1 instalment of 11 million, 2 equal yearly instalments of 12 million and a final instalment of 18 million commencing June The non-current portion is repayable in the following manner: Financial year ending: 31st December, ,000,000 31st December, ,000,000 18,000,000 Non-current portion 18,000,000 30,000,000 SAP Holdings Berhad is an indirect subsidiary company of Kumpulan Darul Ehsan Berhad, the immediate holding company of the Company. 23. DEFERRED MEMBERSHIP INCOME Gross deferred membership income 3,820,007 3,794,342 Less: Accumulated amortisation (1,125,220) (780,075) 2,694,787 3,014, SHARE CAPITAL Share capital is represented by: Authorised: 200,000,000 ordinary shares of 1 each 200,000, ,000,000 Issued and fully paid: 120,000,002 ordinary shares of 1 each 120,000, ,000,002 BRISDALE HOLDINGS BERHAD ( V) 43

28 25. UNAPPROPRIATED PROFIT Based on the estimated tax credits available and the prevailing tax rates applicable to dividends, the Company is able to distribute the entire unappropriated profit of the Company as at 31st December, 1999 by way of cash dividends without additional tax liability being incurred. 26. PROFIT BEFORE EXCEPTIONAL ITEM, SHARE IN RESULTS OF ASSOCIATED COMPANIES AND TAXATION Profit before exceptional item, share in results of associated companies and taxation is arrived at: After charging: Interest payable: House purchasers 1,959,734 Revolving credit facilities 1,708,821 Bank overdraft 419, ,871 Hire-purchase 229, ,307 12,169 38,731 Advance from immediate holding company (Note 11) 78,608 78,608 Finance lease 8, ,478 Term loan 2,842,028 Depreciation of fixed assets (Note 4) 2,220,010 2,025, , ,641 Directors remuneration: Fees 181, , , ,206 Salaries and allowances 672, , , ,561 Office rental 482, , , ,467 Provision for doubtful debts: Trade 71, ,046 Non-trade 84, ,987 Amortisation of club development expenditure 76,240 76,241 Audit fee: Current 39,500 42,500 12,000 12,000 Special 30,000 Overprovision in prior year (2,100) Fixed assets written off 1,981 Loss on disposal of fixed assets , Operating lease rental of equipment 15,623 Provision for doubtful debts on amount owing by associated company 343, ,001 Expenditure carried forward written off 5, BRISDALE HOLDINGS BERHAD ( V)

29 And crediting: Reserve on consolidation realised (Note 30) 2,752,073 Interest income from: House purchasers 330, , ,476 70,279 Housing development accounts 229, ,555 46, ,775 Deposits with licensed bank 85, ,717 68, ,622 Others 928 Amortisation of deferred membership income 345, ,133 Rental income on: freehold land 216,000 40,000 premises 129, , , ,228 Provision for doubtful debts no longer required trade 78,386 non-trade 117,814 amount owing by associated company 25,000 25,000 Gain on disposal of fixed assets 3,973 7,888 Dividend income (gross) received from subsidiary company 21,666, EXCEPTIONAL ITEM Exceptional item represents: Loss on disposal of investment in associated company, Tenaga Gagah Sdn. Bhd. 759,644 Provision for diminution in value of investment in associated company, Gemapantas Sdn. Bhd. 3,528, ,644 3,528,000 BRISDALE HOLDINGS BERHAD ( V) 45

The principal activities of UMWD are mainly investment holding and property development.

The principal activities of UMWD are mainly investment holding and property development. 1. INTRODUCTION UMW Holdings Berhad ( UMW Holdings or the Company ) wishes to announce that its wholly-owned subsidiary, UMW Corporation Sdn Bhd ( UMWC ), has today entered into a Settlement Agreement

More information

The Proposed Disposal falls within the ambit of Section 132E of the Companies Act, 1965 ( Act ).

The Proposed Disposal falls within the ambit of Section 132E of the Companies Act, 1965 ( Act ). TAN CHONG MOTOR HOLDINGS BERHAD ( TCMH OR THE COMPANY ) - PROPOSED DISPOSAL OF ASSETS BY TC ALUMINIUM CASTINGS SDN BHD (AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF TCMH) TO APM THERMAL SYSTEMS SDN BHD (A WHOLLY-OWNED

More information

UMW HOLDINGS BERHAD (90278-P) GENERAL ANNOUNCEMENT

UMW HOLDINGS BERHAD (90278-P) GENERAL ANNOUNCEMENT GENERAL ANNOUNCEMENT EXECUTION OF A SHARE SALE AND PURCHASE AGREEMENT BETWEEN UMW CORPORATION SDN BHD, PERMODALAN NASIONAL BERHAD AND UMW DEVELOPMENT SDN BHD 1. INTRODUCTION UMW Holdings Berhad ( UMW Holdings

More information

FINANCIAL STATEMENTS BERJAYA CORPORATION BERHAD ( X) ANNUAL REPORT

FINANCIAL STATEMENTS BERJAYA CORPORATION BERHAD ( X) ANNUAL REPORT FINANCIAL STATEMENTS 58 Directors Report 64 Statement by Directors 64 Statutory Declaration 65 Independent Auditors Report 67 Statements of Financial Position 69 Statements of Profit or Loss 70 Statements

More information

statements financial 86 Directors Report 91 Statement by Directors 91 Statutory Declaration 92 Auditors Report 93 Balance Sheets 94 Income Statements

statements financial 86 Directors Report 91 Statement by Directors 91 Statutory Declaration 92 Auditors Report 93 Balance Sheets 94 Income Statements 86 Directors Report 91 Statement by Directors financial statements 91 Statutory Declaration 92 Auditors Report 93 Balance Sheets 94 Income Statements 95 Consolidated Statement of Changes in Equity 96 Statement

More information

ANNOUNCEMENT FOR PUBLIC RELEASE OPERATION AND MAINTENANCE AGREEMENTS NO. 1, NO. 2 AND NO. 3

ANNOUNCEMENT FOR PUBLIC RELEASE OPERATION AND MAINTENANCE AGREEMENTS NO. 1, NO. 2 AND NO. 3 PERAK CORPORATION BERHAD (210915-U) (Incorporated in Malaysia) ANNOUNCEMENT FOR PUBLIC RELEASE OPERATION AND MAINTENANCE AGREEMENTS NO. 1, NO. 2 AND NO. 3 1.0 INTRODUCTION On behalf of the Board of Directors

More information

BERJAYA GROUP BERHAD (Incorporated in Malaysia) FINANCIAL STATEMENTS AS AT 30 APRIL 2005 TOGETHER WITH DIRECTORS' AND AUDITORS' REPORTS

BERJAYA GROUP BERHAD (Incorporated in Malaysia) FINANCIAL STATEMENTS AS AT 30 APRIL 2005 TOGETHER WITH DIRECTORS' AND AUDITORS' REPORTS BERJAYA GROUP BERHAD (Incorporated in Malaysia) FINANCIAL STATEMENTS AS AT 30 APRIL 2005 TOGETHER WITH DIRECTORS' AND AUDITORS' REPORTS BERJAYA GROUP BERHAD (Incorporated in Malaysia) CONTENTS PAGE DIRECTORS'

More information

Every Disclosure Document issued by a Franchisor Member pursuant to the Code shall comply with the following requirements: -

Every Disclosure Document issued by a Franchisor Member pursuant to the Code shall comply with the following requirements: - C:\Users\Vera\Documents\Documents\FASA\DisclosureDocument\DISCLOSURE DOCUMENT REQUIREMENTS updated13aug 2011DRAFT.doc 29 August 2011 FRANCHISE ASSOCIATION OF SOUTH AFRICA DISCLOSURE DOCUMENT REQUIREMENTS

More information

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS FINANCIAL STATEMENTS 62 Directors Report 69 Statement by Directors/Statutory Declaration 70 Auditors Report 71 Consolidated Balance Sheet 72 Consolidated Income Statement 73 Consolidated Statement of Changes

More information

BlueScope Steel Limited Consolidated Financial Headlines

BlueScope Steel Limited Consolidated Financial Headlines BlueScope Steel Limited Consolidated Financial Headlines 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016 2017 2017 2017 2018 2018 2018 Total

More information

FINANCIAL STATEMENTS. 58 Directors Report. 64 Statement By Directors. 64 Statutory Declaration. 65 Independent Auditors Report

FINANCIAL STATEMENTS. 58 Directors Report. 64 Statement By Directors. 64 Statutory Declaration. 65 Independent Auditors Report FINANCIAL STATEMENTS 58 Directors Report 64 Statement By Directors 64 Statutory Declaration 65 Independent Auditors Report 67 Statements of Financial Position 69 Income Statements 70 Statements of Comprehensive

More information

SETTLEMENT AGREEMENT BETWEEN D.J. DESIGN SUPPLIERS SDN. BHD., SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF IJGB

SETTLEMENT AGREEMENT BETWEEN D.J. DESIGN SUPPLIERS SDN. BHD., SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF IJGB IKHMAS JAYA GROUP BERHAD ( IJGB OR THE COMPANY ) SETTLEMENT AGREEMENT BETWEEN D.J. DESIGN SUPPLIERS SDN. BHD., SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF IJGB 1.

More information

CERTIFICATE OF THE AUDITOR GENERAL ON THE FINANCIAL STATEMENTS OF JOHOR CORPORATION FOR THE YEAR ENDED 31 DECEMBER 2005

CERTIFICATE OF THE AUDITOR GENERAL ON THE FINANCIAL STATEMENTS OF JOHOR CORPORATION FOR THE YEAR ENDED 31 DECEMBER 2005 CERTIFICATE OF THE AUDITOR GENERAL ON THE FINANCIAL STATEMENTS OF JOHOR CORPORATION FOR THE YEAR ENDED 31 DECEMBER 2005 The financial statements of Johor Corporation for the year ended have been audited

More information

ATTACHMENT 1.0 INTRODUCTION

ATTACHMENT 1.0 INTRODUCTION ATTACHMENT AWARD OF CONTRACT BY MSM SUGAR REFINERY (JOHOR) SDN BHD ( MSM JOHOR ), A WHOLLY-OWNED SUBSIDIARY OF MSM MALAYSIA HOLDINGS BERHAD ( MSM ) FOR PACKAGE 2 FOR THE CONSTRUCTION AND INSTALLATION OF

More information

The Board of Directors of Shangri-La Hotels (Malaysia) Berhad ( SHMB ) wishes to announce that its wholly-owned subsidiary, UBN Tower Sdn Bhd has:-

The Board of Directors of Shangri-La Hotels (Malaysia) Berhad ( SHMB ) wishes to announce that its wholly-owned subsidiary, UBN Tower Sdn Bhd has:- TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS TENANCY AGREEMENTS - OFFICE SPACE AT UBN TOWER 1. INTRODUCTION The Board of Directors of Shangri-La Hotels (Malaysia) Berhad

More information

SERBA DINAMIK HOLDINGS BERHAD ( SERBA DINAMIK HOLDINGS OR THE COMPANY )

SERBA DINAMIK HOLDINGS BERHAD ( SERBA DINAMIK HOLDINGS OR THE COMPANY ) SERBA DINAMIK HOLDINGS BERHAD ( SERBA DINAMIK HOLDINGS OR THE COMPANY ) PROPOSED ACQUISITION OF 400,000 ORDINARY SHARES REPRESENTING 40% EQUITY INTEREST IN KONSORTIUM AMANIE JV SDN BHD ( KONSORTIUM AMANIE

More information

Joint Venture Agreement ( JVA ) with Nissan in respect of the establishment and operation of NVL ( Proposed Joint Venture ).

Joint Venture Agreement ( JVA ) with Nissan in respect of the establishment and operation of NVL ( Proposed Joint Venture ). TAN CHONG MOTOR HOLDINGS BERHAD Proposed Acquisition of 74% Charter Capital of Nissan Vietnam Co., Ltd. and Proposed Joint Venture with Nissan Motor Co., Ltd. 1.0 INTRODUCTION The Board of Directors of

More information

THE SPECIALIST. Annual Report DELIVERING SUPERIOR VALUE, QUALITY AND SERVICE SOLID AUTOMOTIVE BERHAD ( P)

THE SPECIALIST. Annual Report DELIVERING SUPERIOR VALUE, QUALITY AND SERVICE SOLID AUTOMOTIVE BERHAD ( P) SOLID AUTOMOTIVE BERHAD (1016725-P) 5, Jalan Dataran 5, Taman Kempas, 81200 Johor Bahru, Johor Darul Takzim, Malaysia. Tel: +60 7 238 1782 Fax: +60 7 238 9073 www.solidautomotive.com SOLID AUTOMOTIVE BERHAD

More information

UMW HOLDINGS BERHAD ( P)

UMW HOLDINGS BERHAD ( P) EXECUTION OF A SHARE PURCHASE AGREEMENT BETWEEN UMW RIG ASSET (L) LTD AND S.D. STANDARD DRILLING PLC IN RESPECT OF THE ACQUISITION OF THE ENTIRE ISSUED AND PAID-UP CAPITAL IN OFFSHORE DRILLER 4 LTD 1.

More information

PROPOSED ACQUISITION OF 13 ENTITIES IN PAWN BROKING BUSINESS IN MALAYSIA

PROPOSED ACQUISITION OF 13 ENTITIES IN PAWN BROKING BUSINESS IN MALAYSIA PROPOSED ACQUISITION OF 13 ENTITIES IN PAWN BROKING BUSINESS IN MALAYSIA 1. INTRODUCTION The board of directors (the Board or the Directors ) of MoneyMax Financial Services Ltd. (the Company and together

More information

BERJAYA CORPORATION BERHAD ANNUAL REPORT

BERJAYA CORPORATION BERHAD ANNUAL REPORT FINANCIAL STATEMENTS 82 Directors Report 89 Statement by Directors 89 Statutory Declaration 90 Statements of Financial Position 92 Statements of Profit or Loss 93 Statements of Comprehensive Income 94

More information

Factbook. Tokyo Electric Power Company Holdings, Inc. August Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

Factbook. Tokyo Electric Power Company Holdings, Inc. August Tokyo Electric Power Company Holdings, Inc. All Rights Reserved. Factbook Tokyo Electric Power Company Holdings, Inc. August 2018 (Note) Please note that the following to be an accurate and complete translation of the original Japanese version prepared for the convenience

More information

MALAYSIAN RESOURCES CORPORATION BERHAD

MALAYSIAN RESOURCES CORPORATION BERHAD MALAYSIAN RESOURCES CORPORATION BERHAD (Company No. 7994D) (Incorporated in Malaysia) Unaudited results of the Group for the 4th quarter ended 31 August 2001. CONSOLIDATED INCOME STATEMENT 4TH QUARTER

More information

CASB was incorporated in Malaysia on 16 July 1997 and its principal activities are construction and property development.

CASB was incorporated in Malaysia on 16 July 1997 and its principal activities are construction and property development. TRANSFER OF MALAYSIAN RESOURCES CORPORATION BERHAD S 100% EQUITY INTEREST IN LOTUS TERRAIN SDN BHD TO DMIA (M) SDN BHD IN CONSIDERATION FOR TRANSFER OF DMIA (M) SDN BHD S 30% EQUITY INTEREST IN COUNTRY

More information

Analysis of Operating Results and Financial Status

Analysis of Operating Results and Financial Status 29 Analysis of Operating Results and Financial Status 1. Analysis of Operating Results of EGAT and Its Subsidiaries Operating results of EGAT and its subsidiaries including associated company and joint

More information

Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2014

Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2014 BUMITAMA AGRI LTD. Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2014 1(a)(i) An Income statement (for the group) together with a comparative statement

More information

Lazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results

Lazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results News Contact: +1 (813) 204-4099 investors@lazydays.com Lazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results Tampa, FL (August 9, 2018) Lazydays Holdings, Inc. ( Lazydays )(NasdaqCM: LAZY)

More information

Unaudited Financial Statements for the Second Quarter ( 2Q ) and First Half ( 1H ) Ended 30 June 2014

Unaudited Financial Statements for the Second Quarter ( 2Q ) and First Half ( 1H ) Ended 30 June 2014 BUMITAMA AGRI LTD. Unaudited Financial Statements for the Second Quarter ( 2Q ) and First Half ( 1H ) Ended 30 June 2014 1(a)(i) Income statement (for the group) together with a comparative statement for

More information

Strong performance by the Bolloré Group s operating activities in 2018 Mr Cyrille Bolloré unanimously appointed Chairman and Chief Executive Officer

Strong performance by the Bolloré Group s operating activities in 2018 Mr Cyrille Bolloré unanimously appointed Chairman and Chief Executive Officer PRESS RELEASE 2018 results (1) March 14, 2019 Strong performance by the Bolloré Group s operating activities in 2018 Mr Cyrille Bolloré unanimously appointed Chairman and Chief Executive Officer Revenue:

More information

CONDITIONAL OFFER BY DRB-HICOM TO DISPOSE TO POS MALAYSIA BERHAD ( POS MALAYSIA ) THE FOLLOWING:

CONDITIONAL OFFER BY DRB-HICOM TO DISPOSE TO POS MALAYSIA BERHAD ( POS MALAYSIA ) THE FOLLOWING: DRB-HICOM BERHAD ( DRB-HICOM OR COMPANY ) CONDITIONAL OFFER BY DRB-HICOM TO DISPOSE TO POS MALAYSIA BERHAD ( POS MALAYSIA ) THE FOLLOWING: (I) THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF KL AIRPORT

More information

Contract Value Actual / Expected Date of (RM 'mil.) Commencement Completion

Contract Value Actual / Expected Date of (RM 'mil.) Commencement Completion Table 1 : MTD Construction Sdn Bhd s Current Projects Description East Coast Expressway ( ECE ) Phase 1 (additional works), Karak to Kuantan. Client Lembaga Lebuhraya Malaysia Contract Value Actual / Expected

More information

Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2017

Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2017 BUMITAMA AGRI LTD. Unaudited Financial Statements for the Third Quarter ( 3Q ) and Nine Months ( 9M ) Ended 30 September 2017 1(a)(i) Income statement (for the group) together with a comparative statement

More information

financial statements 54 Statement of Changes in Equity 55 Cash Flow Statements 59 Notes to the Financial Statements

financial statements 54 Statement of Changes in Equity 55 Cash Flow Statements 59 Notes to the Financial Statements financial statements 42 Directors Report 49 Statement by Directors 49 Statutory Declaration 50 Report of the Auditors 51 Balance Sheets 52 Income Statements 53 Consolidated Statement of Changes in Equity

More information

Lazydays Holdings, Inc. Reports Third Quarter 2018 Financial Results

Lazydays Holdings, Inc. Reports Third Quarter 2018 Financial Results News Contact: +1 (813) 204-4099 investors@lazydays.com Lazydays Holdings, Inc. Reports Third Quarter 2018 Financial Results Tampa, FL (November 8, 2018) Lazydays Holdings, Inc. ( Lazydays ) (NasdaqCM:

More information

PETRONAS PETRONAS CHEMICALS GROUP BERHAD ( K) RELATED PARTY TRANSACTION

PETRONAS PETRONAS CHEMICALS GROUP BERHAD ( K) RELATED PARTY TRANSACTION PETRONAS 1.0 INTRODUCTION PETRONAS CHEMICALS GROUP BERHAD (459830 K) RELATED PARTY TRANSACTION Pursuant to Paragraph 10.08 (1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad,

More information

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public

More information

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public

More information

OUR MISSION PHILOSOPHY. To provide quality education that would enrich every student s intellectual, cultural and social life.

OUR MISSION PHILOSOPHY. To provide quality education that would enrich every student s intellectual, cultural and social life. OUR MISSION To provide quality education that would enrich every student s intellectual, cultural and social life. OUR PHILOSOPHY A positive attitude coupled with progressive culture will lead to productive

More information

Shareholders are referred to the Claw-back Offer Circular dated 13 July 2012 ("the Waiver Circular") detailing:

Shareholders are referred to the Claw-back Offer Circular dated 13 July 2012 (the Waiver Circular) detailing: RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000092714 ("the Company" or "RARE") RESULTS OF THE GENERAL MEETING, WAIVER

More information

2. General Information on Recharge Centers

2. General Information on Recharge Centers Recharge Center Policy & Procedures 1. Introduction and Definition 2. General Information on Recharge Centers 3. Expenditures/Costs 4. Rate Setting 5. Taxes 6. Deficits, Surpluses, and Working Capital

More information

TARIFF DECISION FOR SASOL OIL (PTY) LTD S SECUNDA TO NATREF INTEGRATED (SNI) PIPELINE

TARIFF DECISION FOR SASOL OIL (PTY) LTD S SECUNDA TO NATREF INTEGRATED (SNI) PIPELINE TARIFF DECISION FOR SASOL OIL (PTY) LTD S SECUNDA TO NATREF INTEGRATED (SNI) PIPELINE 10 MAY 2018 Page 1 of 19 TABLE OF CONTENTS Introduction... 6 Applicable Law... 6 The Methodology... 6 Decision-Making

More information

Analysis of Operating Results and Financial Status

Analysis of Operating Results and Financial Status Analysis of Operating Results and Financial Status 1. Analysis of Operating Results of EGAT and its Subsidiaries Operating results of EGAT and its subsidiaries including associated company and jointly

More information

PRO-FORMA FIGURES OF THE A2A GROUP

PRO-FORMA FIGURES OF THE A2A GROUP PRO-FORMA FIGURES OF THE A2A GROUP restated at December 31, 2007 published on March 25, 2009 Contents 3 0.1 Summary of pro-forma figures restated at December 31, 2007 7 0.2 Presentation of the pro-forma

More information

Ratchaburi Electricity Generating Holding PCL. Management Discussion and Analysis For the Year Ended December 31, 2012

Ratchaburi Electricity Generating Holding PCL. Management Discussion and Analysis For the Year Ended December 31, 2012 Ratchaburi Electricity Generating Holding PCL Management Discussion and Analysis (Translation) Ratchaburi Electricity Generating Holding Public Co., Ltd. Management Discussion and Analysis 1. Significant

More information

according to Annex 30A of the Regulation no. 1/2006 with subsequent amendments regarding the issuers and securities operations

according to Annex 30A of the Regulation no. 1/2006 with subsequent amendments regarding the issuers and securities operations Quarterly Report on March 31 st, 2016 according to Annex 30A of the Regulation no. 1/2006 with subsequent amendments regarding the issuers and securities operations Date of report: March 31 st, 2016 Company's

More information

Money and banking. Flow of funds for the third quarter

Money and banking. Flow of funds for the third quarter Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public

More information

Jun-14 Jun-13 Jun-12 Jun-14 Jun-13 Jun-12 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000. Turn Over 25,624 26,675 34,

Jun-14 Jun-13 Jun-12 Jun-14 Jun-13 Jun-12 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000. Turn Over 25,624 26,675 34, JAVA BERHAD ( JAVA OR COMPANY ) - REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERAHD ( BURSA SECURITIES ) ON CESSATION OF TIMBER OPERATIONS OF JAVA INDUSTRIES SDN BHD, JAVA WOODS SDN BHD, JAVA TIMBER

More information

Interest bearing amounts 1,365,235 1,280,224 Non-interest bearing amounts 48,929 13,437 Total amounts due from subsidiaries 1,414,164 1,293,661

Interest bearing amounts 1,365,235 1,280,224 Non-interest bearing amounts 48,929 13,437 Total amounts due from subsidiaries 1,414,164 1,293,661 20. Amounts due from subsidiaries Company 2013 2012 RM'000 RM'000 Interest bearing amounts 1,365,235 1,280,224 Non-interest bearing amounts 48,929 13,437 Total amounts due from subsidiaries 1,414,164 1,293,661

More information

1QFY2018 Financial Results. Quarter Ended 30 June 2017

1QFY2018 Financial Results. Quarter Ended 30 June 2017 1QFY2018 Financial Results Quarter Ended 30 June 2017 Disclaimer This presentation is not and does not constitute an offer, invitation, solicitation or recommendation to subscribe for, or purchase, any

More information

New Brunswick transitional rules for HST increase

New Brunswick transitional rules for HST increase New Brunswick transitional rules for HST increase April 2016 The 2016-17 New Brunswick budget announced an increase in the HST rate from 13% to 15%, effective July 1, 2016. Transitional rules have recently

More information

Stronger Fundamental and Excellent Growth

Stronger Fundamental and Excellent Growth Investor Bulletin, First Half 2004 Stronger Fundamental and Excellent Growth For the first six months of 2004, PT United Tractors Tbk (UT/Company) recorded consolidated net revenue of IDR 4.29 trillion,

More information

RSPO Membership Rules

RSPO Membership Rules RSPO Membership Rules All members must comply with the requirements as described in this document. Endorsed by the Board of Governors on 6 March 2017, in Kuala Lumpur, Malaysia RSPO Membership Rules 2016

More information

Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2012

Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2012 BUMITAMA AGRI LTD. Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2012 1(a)(i) Income statement (for the group) together with a comparative statement for the

More information

Transitional Rules for the Nova Scotia HST Rate Increase

Transitional Rules for the Nova Scotia HST Rate Increase Transitional Rules for the Nova Scotia HST Rate Increase for the fiscal year 2010 2011 As of April 15, 2010 This Notice provides general descriptions of transitional rules for the increase in the Harmonized

More information

Antares Funds Equities

Antares Funds Equities Financial Report Antares Funds Equities For the period ending 30 June 2016 a partner of: nabassetmanagement Ernst & Young 200 George Street Sydney NSW 2000 Australia GPO Box 2646 Sydney NSW 2001

More information

3QFY2018 Financial Results. Quarter Ended 31 December 2017

3QFY2018 Financial Results. Quarter Ended 31 December 2017 3QFY2018 Financial Results Quarter Ended 31 December 2017 Disclaimer This presentation is not and does not constitute an offer, invitation, solicitation or recommendation to subscribe for, or purchase,

More information

(Company No. : D)

(Company No. : D) (ompany : 380100-D) SALE AND PURHASE AGREEMENT SIGNED BETWEEN KNUSFORD BERHAD AND TROPIANA DANGA BAY SDN BHD FOR THE PURHASE OF 11 UNITS RETAIL LOTS OF TROPEZ RESIDENES LOATED IN JOHOR BAHRU 1. INTRODUTION

More information

Healthier Net Profit under Stronger IDR

Healthier Net Profit under Stronger IDR Investor Bulletin, First Half 2002 Healthier Net Profit under Stronger IDR As of June 2002, the consolidated revenue in USD increased by 32% y.o.y. Due to IDR strengthening against USD, in IDR revenue

More information

Federated States of Micronesia

Federated States of Micronesia IMF Country Report No. 13/17 Federated States of Micronesia 2012 ARTICLE IV CONSULTATION 2012 Statistical Appendix January 29, 2001 January 29, 2001 This Statistical Appendix paper for the Federated States

More information

TRANSMISSION LICENCE NO. 1 OF 2011 LICENCE FOR TRANSMISSION OF ELECTRICITY IN THE STATE OF MAHARASHTRA

TRANSMISSION LICENCE NO. 1 OF 2011 LICENCE FOR TRANSMISSION OF ELECTRICITY IN THE STATE OF MAHARASHTRA MAHARASHTRA ELECTRICITY REGULATORY COMMISSION World Trade Centre, Centre No.1, 13th floor, Cuffe Parade, Mumbai - 400 005. Tel. No. 022 22163964/65/69 Fax 022 22163976 E-mail mercindia@mercindia.org.in

More information

Assistance Towards the Purchase and Upkeep of Minibuses

Assistance Towards the Purchase and Upkeep of Minibuses 41 October 2010 Management Circular No. 41 Glasgow City Council Education Services Wheatley House 25 Cochrane Street Merchant City GLASGOW G1 1HL To Heads of all Educational Establishments Assistance Towards

More information

Part 3 Tax Planning for Property Developers. TST Consultants Sdn Bhd 1

Part 3 Tax Planning for Property Developers. TST Consultants Sdn Bhd 1 Part 3 Tax Planning for Property Developers TST Consultants Sdn Bhd 1 Tax Planning for Property Developer A. Purchase the land or Purchase the share? (Beware the capital reserve and deferred Tax) B. Disposal

More information

Money and banking. Flow of funds for the first quarter

Money and banking. Flow of funds for the first quarter Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public

More information

24. SOLAR INCENTIVE PROGRAM II

24. SOLAR INCENTIVE PROGRAM II 24. SOLAR INCENTIVE PROGRAM II A. General California Senate Bill 1 requires publicly owned utilities that sell electricity at the retail level, to adopt, implement, and fund a solar incentive program for

More information

SASOL INZALO AND SASOL KHANYISA FREQUENTLY ASKED QUESTIONS

SASOL INZALO AND SASOL KHANYISA FREQUENTLY ASKED QUESTIONS SASOL INZALO AND SASOL KHANYISA FREQUENTLY ASKED QUESTIONS 15 November 2017 1 SASOL INZALO AND SASOL KHANYISA QUESTIONS AND ANSWERS TABLE OF CONTENTS Top 10 Sasol Inzalo Questions 6 1. How has Sasol Inzalo

More information

Derivative Valuation and GASB 53 Compliance Report For the Period Ending September 30, 2015

Derivative Valuation and GASB 53 Compliance Report For the Period Ending September 30, 2015 Derivative Valuation and GASB 53 Compliance Report For the Period Ending September 30, 2015 Prepared On Behalf Of Broward County, Florida October 9, 2015 BLX Group LLC 777 S. Figueroa Street, Suite 3200

More information

JOINT VENTURE AGREEMENT FOR COST SHARING IN RELATION TO UPGRADING OF IWSS3 (LOW ZONE) FOR SUPPLY OF WATER

JOINT VENTURE AGREEMENT FOR COST SHARING IN RELATION TO UPGRADING OF IWSS3 (LOW ZONE) FOR SUPPLY OF WATER ABLEGROUP BERHAD JOINT VENTURE AGREEMENT FOR COST SHARING IN RELATION TO UPGRADING OF IWSS3 (LOW ZONE) FOR SUPPLY OF WATER 1. INTRODUCTION The Board of Directors ( Board ) of AbleGroup Berhad ( AB or the

More information

CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World. CBIP Financial Highlights 2Q 2012

CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World. CBIP Financial Highlights 2Q 2012 CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World CBIP Financial Highlights 2Q 2012 Operational Highlights Leading engineering company specializing in construction and

More information

Preliminary Results 12 May 2009

Preliminary Results 12 May 2009 Preliminary Results 12 May 2009 Working together for Greener logistics solutions For period ended 28 February 2009 www.stobartgroup.com Highlights Year of growth, laying foundations for the multimodal

More information

FORMIS RESOURCES HOLD. Reverse takeover of smaller rival - positive for long run. Company report. (Maintained) Rationale for report: Company update

FORMIS RESOURCES HOLD. Reverse takeover of smaller rival - positive for long run. Company report. (Maintained) Rationale for report: Company update FORMIS RESOURCES (FMSR.KL, FMRB.MK) 10 May 2012 Company report AmResearch Sdn Bhd www.amesecurities.com.my +603 2036 2300 Reverse takeover of smaller rival - positive for long run Rationale for report:

More information

Zwack Unicum Nyrt. RESOLUTIONS. of the Annual General Meeting held on June 25, 2015

Zwack Unicum Nyrt. RESOLUTIONS. of the Annual General Meeting held on June 25, 2015 Zwack Unicum Nyrt. RESOLUTIONS of the Annual General Meeting held on June 25, 2015 Resolution of the AGM No. 1/2015. 06. 25. The AGM approved the election of Mr. Sándor Zwack as conducting chairman, Mr.

More information

BLUE SOLUTIONS HALF-YEAR FINANCIAL REPORT 2014

BLUE SOLUTIONS HALF-YEAR FINANCIAL REPORT 2014 BLUE SOLUTIONS HALF-YEAR FINANCIAL REPORT 2014 SUMMARY Activity report 3 Condensed half-yearly consolidated financial statements 7 Statement of the person responsible for the half-year report 30 Statutory

More information

Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2016

Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2016 Overall Operational Results In the first quarter of the year 2016, the Company had the net profit attributable to equity holders in the amount of Baht 702 Million, representing an increase from the same

More information

2002 Preliminary Announcement 10 June 2002

2002 Preliminary Announcement 10 June 2002 2002 Preliminary Announcement 10 June 2002 Financial Review Financial Summary 2002 2001 as restated m m Turnover 190.2 216.7 Trading profit (before exceptionals) 7.8 16.1 Profit before tax (before exceptionals)

More information

California Independent System Operator Corporation Fifth Replacement Electronic Tariff

California Independent System Operator Corporation Fifth Replacement Electronic Tariff Table of Contents 41. Procurement Of RMR Generation... 2 41.1 Procurement Of Reliability Must-Run Generation By The CAISO... 2 41.2 Designation Of Generating Unit As Reliability Must-Run Unit... 2 41.3

More information

The following terms and conditions shall otherwise apply for JM Convertibles 2014/2018:

The following terms and conditions shall otherwise apply for JM Convertibles 2014/2018: 1(8) TRANSLATION OF THE ORIGINAL SWEDISH The proposal by the Board of Directors of for resolution by the Annual General Meeting on the issue and transfer of convertibles with a nominal value not to exceed

More information

1 TA Enterprise berhad Annual Report 2013

1 TA Enterprise berhad Annual Report 2013 TA Enterprise berhad Annual Report 2011 1 1 TA Enterprise berhad Annual Report 2013 TA Enterprise berhad Annual Report 2013 1 2 TA Enterprise berhad Annual Report 2013 TA Enterprise berhad Annual Report

More information

Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2015

Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2015 BUMITAMA AGRI LTD. Unaudited Financial Statements for the Fourth Quarter ( 4Q ) and Full Year Ended 31 December 2015 1(a)(i) Income statement (for the group) together with a comparative statement for the

More information

Months Investor Presentation

Months Investor Presentation 2018 9 Months Investor Presentation 25.10.2018 Disclaimer Ereğli Demir Çelik Fabrikaları T.A.Ş. (Erdemir) may, when necessary, make written or verbal announcements about forward-looking information, expectations,

More information

INCREASING SALES FOR MINING RELATED BUSINESS

INCREASING SALES FOR MINING RELATED BUSINESS Investor Relations of PT UNITED TRACTORS Tbk INCREASING SALES FOR MINING RELATED BUSINESS In the first half 2001, the Company managed to record increase in net revenue from IDR 2.32 trillion to IDR 3.54

More information

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance Statistical tables Money and banking Page S : Liabilities... 2 : Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public Deposits: Assets... 5 Banks: Liabilities... 6 7 Banks:

More information

CHEMICAL COMPANY OF MALAYSIA BERHAD (5136-T)

CHEMICAL COMPANY OF MALAYSIA BERHAD (5136-T) CHEMICAL COMPANY OF MALAYSIA BERHAD (5136-T) (Incorporated in Malaysia) EXTRACT OF MINUTES OF EXTRAORDINARY GENERAL MEETING HELD ON FRIDAY, 2 MARCH 2018 AT 10.00 A.M. AT BALLROOM 1 & 2, INTERCONTINENTAL

More information

Proforma undertaking letter from remaining shareholders of acquiree company under Practice Note 2.9.6

Proforma undertaking letter from remaining shareholders of acquiree company under Practice Note 2.9.6 1 Appendix I Proforma undertaking letter from remaining shareholders of acquiree company under Practice Note 2.9.6 [Name of remaining shareholder of acquiree] [Company registration number/ic number] [Address]

More information

(PROPOSED MBMR ACQUISITION, PROPOSED MO AND PROPOSED PERODUA ACQUISITION ARE COLLECTIVELY REFERRED TO AS PROPOSALS )

(PROPOSED MBMR ACQUISITION, PROPOSED MO AND PROPOSED PERODUA ACQUISITION ARE COLLECTIVELY REFERRED TO AS PROPOSALS ) UMW HOLDINGS BERHAD ( UMWH OR COMPANY ) (I) (II) PROPOSED ACQUISITION OF ALL THE ORDINARY SHARES IN MBM RESOURCES BERHAD ( MBMR ) ( MBMR SHARES ) HELD BY MED-BUMIKAR MARA SDN BHD ( MED-BUMIKAR ) AND CENTRAL

More information

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance

Statistical tables S 0. Money and banking. Capital market. National financial account. Public finance Statistical tables Money and banking Page S South African Reserve Bank: Liabilities... 2 South African Reserve Bank: Assets... 3 Corporation for Public Deposits: Liabilities... 4 Corporation for Public

More information

National Treasury Presentation to the Standing Committee on Finance: South African Airways SOC Ltd ( SAA )

National Treasury Presentation to the Standing Committee on Finance: South African Airways SOC Ltd ( SAA ) National Treasury Presentation to the Standing Committee on Finance: South African Airways SOC Ltd ( SAA ) Presenter: National Treasury 18 November 2015 90 day Action Plan In November 2014, the Ministers

More information

Blue Solutions Half-year financial report 2017

Blue Solutions Half-year financial report 2017 Blue Solutions Half-year financial report 2017 2017 SUMMARY Activity report 3 Condensed half-yearly consolidated financial statements 9 Statutory Auditors review report on the first half-year financial

More information

Protection Plan for the TEPCO Bonds with a Statutory Preferential Right in the Transition to a Holding Company (Execution of Agreements, etc.

Protection Plan for the TEPCO Bonds with a Statutory Preferential Right in the Transition to a Holding Company (Execution of Agreements, etc. March 31, 2016 Protection Plan for the TEPCO Bonds with a Statutory Preferential Right in the Transition to a Holding Company (Execution of Agreements, etc.) As of April 1, 2016, TEPCO will transition

More information

KERALA STATE ELECTRICITY REGULATORY COMMISSION. NOTIFICATION Dated, Thiruvananthapuram 6 th August,2007

KERALA STATE ELECTRICITY REGULATORY COMMISSION. NOTIFICATION Dated, Thiruvananthapuram 6 th August,2007 KERALA STATE ELECTRICITY REGULATORY COMMISSION NOTIFICATION No.1/1/KSERC-2006/ Dated, Thiruvananthapuram 6 th August,2007 KSERC (Supply of Power from Captive Generating Plants to Distribution Licensees)

More information

P. SUMMARY: The Southeastern Power Administration (SEPA) establishes Rate Schedules JW-

P. SUMMARY: The Southeastern Power Administration (SEPA) establishes Rate Schedules JW- This document is scheduled to be published in the Federal Register on 08/29/2016 and available online at http://federalregister.gov/a/2016-20620, and on FDsys.gov 6450-01-P DEPARTMENT OF ENERGY Southeastern

More information

BACS APPROVED BUREAU SCHEME SUPPORT GUIDELINES

BACS APPROVED BUREAU SCHEME SUPPORT GUIDELINES BACS APPROVED BUREAU SCHEME SUPPORT GUIDELINES VERSION 8.2 May 2017 CONTENTS 1 DOCUMENT INFORMATION 4 1.1 VERSION HISTORY 4 1.2 DOCUMENT REVIEWERS 4 1.3 COPYRIGHT STATEMENT 4 2 CONFIDENTIALITY 4 3 INTRODUCTION

More information

CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World. CBIP Financial Highlights FY 2012

CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World. CBIP Financial Highlights FY 2012 CB Industrial Product Holding Berhad Equipping Palm Oil Industries Around The World CBIP Financial Highlights FY 2012 Operational Highlights Leading engineering company specializing in construction and

More information

Malaysian Investor Relations Association Berhad (Company no. : W)

Malaysian Investor Relations Association Berhad (Company no. : W) Malaysian Investor Relations Association Berhad (Company no. : 777008-W) Annexe Building, Bursa Malaysia, Exchange Square, Bukit Kewangan, 50200 Kuala Lumpur, Malaysia Tel : +603 2034 7677 / 7415 Fax :

More information

MONRO MUFFLER BRAKE, INC. PROVIDES FOURTH QUARTER AND FISCAL 2017 FINANCIAL RESULTS

MONRO MUFFLER BRAKE, INC. PROVIDES FOURTH QUARTER AND FISCAL 2017 FINANCIAL RESULTS CONTACT: John Van Heel Chief Executive Officer (585) 647-6400 Robert Gross Executive Chairman (585) 647-6400 FOR IMMEDIATE RELEASE Brian D Ambrosia Senior Vice President Finance Chief Financial Officer

More information

NICHOLAS FINANCIAL INC

NICHOLAS FINANCIAL INC NICHOLAS FINANCIAL INC FORM 10-Q (Quarterly Report) Filed 02/11/11 for the Period Ending 12/31/10 Address 2454 MCMULLEN BOOTH RD BLDG C SUITE 501 B CLEARWATER, FL, 33759 Telephone 7277260763 CIK 0001000045

More information

ACCELERATE TOMORROW. TODAY.

ACCELERATE TOMORROW. TODAY. ACCELERATE TOMORROW. TODAY. 2016 1 Annual Report 2016 2 CONTENTS VOLUME 2: FINANCIAL STATEMENTS.1-9 Directors' Report.10 Statement by Directors.10 Statutory Declaration.11-13 Independent Auditors' Report.14-15

More information

IJM CORPORATION BERHAD

IJM CORPORATION BERHAD IJM CORPORATION BERHAD (104131-A) A N N U A L R E P O R T 2 0 0 0 IJM CORPORATION BERHAD (104131-A) The Malaysian Construction Industry Award 2000 (Malaysian International Contractor of the Year) from

More information

Management Discussion and Analysis

Management Discussion and Analysis Management Discussion and Analysis For the Annual Operating Results Ended December 31, 2009 Note: This Management Discussion and Analysis (MD&A) was made to disclose information and the vision of the management

More information

International Research Journal of Applied Finance ISSN Audit Practices for Automobile Dealerships

International Research Journal of Applied Finance ISSN Audit Practices for Automobile Dealerships Audit Practices for Automobile Dealerships Paul C. Schauer Abstract One of the most important factors in a successful audit is a well-designed audit plan. The audit plan is a comprehensive process determining

More information

2002/03 Interim Announcement 11 November

2002/03 Interim Announcement 11 November 2002/03 Interim Announcement 11 November 2002 www.renold.com Financial Summary First Half First Half 2002/03 2001/02 m m Turnover 91.3 97.6 Trading profit before exceptional items 4.7 3.8 Profit before

More information