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 (1016725-P) ANNUAL REPORT 2015 THE SPECIALIST DELIVERING SUPERIOR VALUE, QUALITY AND SERVICE Annual Report 2015
CONTENTS I II III IV V VI VII VIII IX X XI XII XIII XIV XV Vision and Mission Corporate Structure Company Events Corporate Governance Statement Financial Statements Analysis of Shareholdings Proxy Form 1 2 3 4 6 8 10 12 20 25 28 96 99 102
VISION PASSION for EXCELLENCE MISSION and business expansion. Pursue market leadership in our core business. Export to over 30 Countries Worldwide
CORPORATE INFOATION BOARD OF DIRECTORS KEK KOK SWEE KER MIN CHOO KER MONG KENG KER MENG OI ONG KHENG SWEE AZAHAR BIN BAHARUDIN TAN LAY BENG COMPANY SECRETARIES Ang Mui Kiow (LS0001886) Chen Yew Ting SHARE REGISTRAR Tricor Investor & Issuing House Services Sdn Bhd Level 18, The Gardens North Tower Mid-Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia Tel: (603) 2264 8888 Fax: (603) 2282 2733 REGISTERED OFFICE Suite 7E, Level 7 Manara Ansar 65, Jalan Trus 80000 Johor Bahru Johor Darul Takzim Tel: (607) 224 1035 Fax: (607) 221 0891 HEAD OFFICE No. 5, Jalan Dataran 5 Taman Kempas 81200 Johor Bahru Johor Darul Takzim Tel: (607) 238 1782 Fax: (607) 238 9073 PRINCIPAL BANKERS OCBC Bank (Malaysia) Berhad Hong Leong Bank Berhad AmBank (M) Berhad AUDITORS Crowe Horwath (AF1018) E-2-3, Pusat Komersial Bayu Tasek Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor Darul Takzim STOCK EXCHANGE LISTING Main Market of the Bursa Malaysia Sector : Trading/Services Stock name : SOLID Stock Code : 5242 2 SOLID AUTOMOTIVE BERHAD (1016725-P)
CORPORATE STRUCTURE SOLID AUTOMOTIVE BERHAD 100% 99.96% 100% 100% TWINCO FAR EAST SDN BHD SOLID CORPORATION SDN BHD CMKS (MALAYSIA) SDN BHD AUTO EMPIRE IMPEX PTE LTD 100% 100% 80% UNIPOINT MARKETING ANNUAL REPORT 2015 3
DIRECTORS PROFILE KER MIN CHOO Managing Director Malaysian, aged 53 KEK KOK SWEE Independent Non-Executive Chairman Malaysian, aged 61 Chairman. He was appointed to the Board on 9 October 2012. He is also a member of the Audit appointed to the Board on 9 October 2012 and is of interest with the Group. He has not been KER MONG KENG Executive Director Malaysian, aged 59 appointed to the Board on 9 October 2012 and is one 4 SOLID AUTOMOTIVE BERHAD (1016725-P)
DIRECTORS PROFILE KER MENG OI Executive Director Malaysian, aged 51 AZAHAR BIN BAHARUDIN Independent Non-Executive Director Malaysian, aged 58 appointed to the Board on 9 October 2012. Japan in 1987 to pursue Japanese studies and worked ONG KHENG SWEE Executive Director Malaysian, aged 57 Azahar bin Baharudin is our Independent Board on 9 October 2012. TAN LAY BENG Independent Non-Executive Director Malaysian, aged 61 Director. She was appointed to the Board on 18 ANNUAL REPORT 2015 5
EXHIBITIONS 6 SOLID AUTOMOTIVE BERHAD (1016725-P)
EXHIBITIONS ANNUAL REPORT 2015 7
COMPANY EVENTS 8 SOLID AUTOMOTIVE BERHAD (1016725-P)
COMPANY EVENTS ANNUAL REPORT 2015 9
CHAIAN S STATEMENT On behalf of the Board of Directors, I am pleased to present to you the Annual Report of Solid 10 SOLID AUTOMOTIVE BERHAD (1016725-P)
CHAIAN S STATEMENT FINANCIAL PERFOANCE DIVIDENDS YEAR UNDER REVIEW PROSPECTS FOR THE COMING YEAR CORPORATE SOCIAL RESPONSIBILITY ( CSR ) Workplace Marketplace Environment Community APPRECIATION AND ACKNOWLEDGMENT KEK KOK SWEE Chairman ANNUAL REPORT 2015 11
CORPORATE GOVERNANCE STATEMENT 1: ESTABLISH CLEAR ROLES AND RESPONSIBILITIES 12 SOLID AUTOMOTIVE BERHAD (1016725-P)
CORPORATE GOVERNANCE STATEMENT 2: STRENGTHEN COMPOSITION Chairman: (resigned on 1 July 2014) Members: (appointed on 18 August 2014) ANNUAL REPORT 2015 13
CORPORATE GOVERNANCE STATEMENT 2: STRENGTHEN COMPOSITION Chairman: Members: Basic Salary, Bonus, EPF & SOCSO 000 Fees 000 180 120 3 1 1 1 1 3: REINFORCE INDEPENDENCE 14 SOLID AUTOMOTIVE BERHAD (1016725-P)
CORPORATE GOVERNANCE STATEMENT 3: REINFORCE INDEPENDENCE 4: FOSTER COMMITMENT Director 1 5/5 5/5 5/5 4/5 5/5 5/5 2 3/5 3 1/5 Note 1 : Kek Kok Swee was appointed Chairman on 16 July 2014 Note 2 : Tan Lay Beng was appointed on 18 August 2014 Note 3 : Chee Ho Chun resigned on 1 July 2014 ANNUAL REPORT 2015 15
CORPORATE GOVERNANCE STATEMENT 4: FOSTER COMMITMENT 16 SOLID AUTOMOTIVE BERHAD (1016725-P)
CORPORATE GOVERNANCE STATEMENT 4: FOSTER COMMITMENT 5: UPHOLDING INTEGRITY IN FINANCIAL REPORTING 6: RECOGNISE AND MANAGE RISKS ANNUAL REPORT 2015 17
CORPORATE GOVERNANCE STATEMENT 7: ENSURE TIMELY AND HIGH QUALITY DISCLOSURE 8: STRENGTHEN RELATIONSHIP BETWEEN COMPANY AND SHAREHOLDERS ADDITIONAL COMPLIANCE INFOATION 000 to 30 April 2015 000 Balance 000 18 SOLID AUTOMOTIVE BERHAD (1016725-P)
CORPORATE GOVERNANCE STATEMENT ADDITIONAL COMPLIANCE INFOATION ANNUAL REPORT 2015 19
AUDIT COMMITTEE REPORT 5/5 5/5 3/5 20 SOLID AUTOMOTIVE BERHAD (1016725-P)
AUDIT COMMITTEE REPORT ANNUAL REPORT 2015 21
AUDIT COMMITTEE REPORT 22 SOLID AUTOMOTIVE BERHAD (1016725-P)
AUDIT COMMITTEE REPORT ANNUAL REPORT 2015 23
AUDIT COMMITTEE REPORT 24 SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL INTRODUCTION BOARD RESPONSIBILITIES RISK MANAGEMENT ANNUAL REPORT 2015 25
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL INTERNAL AUDIT FUNCTION INTERNAL CONTROL SYSTEM 26 SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL INTERNAL CONTROL SYSTEM ASSURANCE PROVIDED BY THE GROUP MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER CONCLUSION ANNUAL REPORT 2015 27
FINANCIAL STATEMENTS Directors Report Statement by Directors Independent Auditors Report 29 34 34 35 37 38 39 42 44
DIRECTORS REPORT PRINCIPAL ACTIVITIES RESULTS The Group The Company DIVIDENDS RESERVES AND PROVISIONS ANNUAL REPORT 2015 29
DIRECTORS REPORT ISSUES OF SHARES AND DEBENTURES OPTIONS GRANTED OVER UNISSUED SHARES BAD AND DOUBTFUL DEBTS CURRENT ASSETS VALUATION METHODS SOLID AUTOMOTIVE BERHAD (1016725-P)
DIRECTORS REPORT CONTINGENT AND OTHER LIABILITIES CHANGE OF CIRCUMSTANCES ITEMS OF UNUSUAL NATURE DIRECTORS ANNUAL REPORT 2015
DIRECTORS REPORT DIRECTORS INTERESTS Number Of Ordinary Shares Of 0.50 Each AT 1.5.2014 BOUGHT TRANSFERRED/ SOLD AT 30.4.2015 Direct Interests In The Company 2,964,486 Indirect Interests In The Company* Note:- * - Held through spouse or children DIRECTORS BENEFITS SOLID AUTOMOTIVE BERHAD (1016725-P)
DIRECTORS REPORT SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR SIGNIFICANT EVENTS OCCURRING AFTER THE REPORTING PERIOD AUDITORS Ker Min Choo Ong Kheng Swee ANNUAL REPORT 2015
STATEMENT BY DIRECTORS Ker Min Choo Ong Kheng Swee STATUTORY DECLARATION Ong Kheng Swee Mohdzar Bin Khalid SOLID AUTOMOTIVE BERHAD (1016725-P)
INDEPENDENT AUDITORS REPORT To the Members of Solid Automotive Berhad Report on the Financial Statements Directors Responsibility for the Financial Statements Auditors Responsibility Opinion ANNUAL REPORT 2015
INDEPENDENT AUDITORS REPORT To the Members of Solid Automotive Berhad Report on Other Legal and Regulatory Requirements Crowe Horwath Wong Tak Mun SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENTS OF FINANCIAL POSITION As at 30 April 2015 Note 2015 The Group The Company 2014 2015 2014 ASSETS 6 7 8 9 82,296,624 EQUITY AND LIABILITES 8 82,296,624 ANNUAL REPORT 2015
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Note 2015 The Group The Company 2014 2015 2014 24 26 PROFIT AFTER TAX ATTRIBUTABLE TO:- TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:- EARNINGS PER SHARE (SEN) 27 Basic SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENTS OF CHANGES IN EQUITY The Group Note Share Capital Non-Distributable Distributable Share Premium Merger Foreign Exchange Reserve Retained To Owners Of The Company Non- Controlling Interests Total 28 interests owners ANNUAL REPORT 2015
STATEMENTS OF CHANGES IN EQUITY The Group Note Share Capital Non-Distributable Distributable Share Premium Merger Foreign Exchange Reserve Retained To Owners Of The Company Non- Controlling Interests Total 28 SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENTS OF CHANGES IN EQUITY Share Capital Share Premium (Accumulated Loss)/ Retained Total The Company Note 28 74,999,999 28 ANNUAL REPORT 2015
STATEMENTS OF CASH FLOWS The Group The Company 2015 2014 2015 2014 Note equipment equipment 646,879 Interest income 84,778 Interest paid 42 SOLID AUTOMOTIVE BERHAD (1016725-P)
STATEMENTS OF CASH FLOW The Group The Company 2015 2014 2015 2014 Note 29 and equipment ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 1. GENERAL INFOATION Taman Kempas 2. PRINCIPAL ACTIVITIES 3. BASIS OF PREPARATION 44 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 3. BASIS OF PREPARATION 4. SIGNIFICANT ACCOUNTING POLICIES 4.1 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.1 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS (b) Income Taxes (c) Impairment of Non-Financial Assets (d) Write-down of inventories 46 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.1 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS (f) Impairment of Trade and Other Receivables (h) Provision for warranty 4.2 BASIS OF CONSOLIDATION ANNUAL REPORT 2015 47
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.2 BASIS OF CONSOLIDATION 48 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.2 BASIS OF CONSOLIDATION (b) Non-Controlling Interests (c) Changes in Ownership Interests In Subsidiaries Without Change of Control (d) Loss of Control 4.3 FUNCTIONAL AND FOREIGN CURRENCIES ANNUAL REPORT 2015 49
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.3 FUNCTIONAL AND FOREIGN CURRENCIES 4.4 FINANCIAL INSTRUMENTS SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.4 FINANCIAL INSTRUMENTS (a) Financial Assets ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.4 FINANCIAL INSTRUMENTS (a) Financial Assets (c) Equity Instruments SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.4 FINANCIAL INSTRUMENTS 4.5 INVESTMENTS IN SUBSIDIARIES ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.7 INVESTMENT PROPERTIES 4.8 IMPAIENT (a) Impairment of Financial Assets SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.8 IMPAIENT (a) Impairment of Financial Assets (b) Impairment of Non-Financial Assets 4.9 ASSETS UNDER HIRE PURCHASE ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.10 INVENTORIES 4.11 INCOME TAXES SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.12 CASH AND CASH EQUIVALENTS 4.13 PROVISIONS 4.14 EMPLOYEE BENEFITS 4.15 RELATED PARTIES ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.15 RELATED PARTIES 4.16 CONTINGENT LIABILITIES 4.17 FAIR VALUE MEASUREMENTS SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 4. SIGNIFICANT ACCOUNTING POLICIES 4.17 FAIR VALUE MEASUREMENTS 4.18 BORROWING COSTS 4.19 REVENUE AND OTHER INCOME (a) Sale of Goods (b) Interest Income (c) Dividend Income (d) Rental Income 4.20 OPERATING SEGMENTS ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 5. INVESTMENTS IN SUBSIDIARIES The Company 2015 2014 Name Of Subsidiary Country Of Equity Interest 2015 % 2014 % components components components components Note:- SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 5. INVESTMENTS IN SUBSIDIARIES Interest The Group 2015 2014 2015 2014 % % ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS The Group At 1.5.2014 a subsidiary Disposals charges At 30.4.2015 Net Book Value equipment The Group At 1.5.2013 Transfer to investment Disposals charges At 30.4.2014 Net Book Value equipment 62 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS Accumulated Accumulated Net book The Group At cost impairment value At 30.4.2015 274,764,688 Accumulated Net book At cost value At 30.4.2014 The Group 2015 2014 The Group 2015 2014 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 7. INVESTMENT PROPERTIES The Group At 1.5.2014 a subsidiary charges At 30.4.2015 Net Book Value The Group At 1.5.2013 Transfer from and equipment charges At 30.4.2014 Net Book Value Accumulated Accumulated Net book The Group At cost impairment value At 30.4.2015 At 30.4.2014 64 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 8. DEFERRED TAX ASSETS/(LIABILITIES) The Group 2015 2014 The Group 2015 2014 The Group 2015 2014 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 9. OTHER INVESTMENTS The Group 2015 2014 10. INVENTORIES The Group 2015 2014 11. TRADE RECEIVABLES The Group 2015 2014 4,947 66 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS The Group The Company 2015 2014 2015 2014 Prepayments 796,272 13. AMOUNT OWING BY SUBSIDIARIES The Company 2015 2014 Amount Owing By Subsidiaries 14. FIXED DEPOSITS WITH LICENSED BANKS ANNUAL REPORT 2015 67
NOTES TO THE FINANCIAL STATEMENTS 15. SHARE CAPITAL The Company 2015 2014 2015 2014 Number of shares Authorised Issued And Fully Paid-Up 2 Note:- 68 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 16. RESERVES The Group The Company 2015 2014 2015 2014 16.1 SHARE PREMIUM The Group and The Company 2015 2014 16.2 MERGER DEFICIT ANNUAL REPORT 2015 69
NOTES TO THE FINANCIAL STATEMENTS 16. RESERVES 16.3 FOREIGN EXCHANGE TRANSLATION RESERVE 16.4 RETAINED PROFITS 17. LONG-TE BORROWINGS The Group 2015 2014 18. TRADE PAYABLES 19. OTHER PAYABLES AND ACCRUALS The Group The Company 2015 2014 2015 2014 4,742 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 20. SHORT-TE BORROWINGS The Group 2015 2014 21. HIRE PURCHASE PAYABLES The Group 2015 2014 722,226 422,779 678,624 422,779 678,624 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 22. TE LOANS The Group 2015 2014 23. PROVISION FOR WARRANTY The Group 2015 2014 24. REVENUE The Group The Company 2015 2014 2015 2014 72 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 25. PROFIT BEFORE TAX The Group The Company 2015 2014 2015 2014 646,879 768,977 Interest income ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 26. INCOME TAX EXPENSE The Group The Company 2015 2014 2015 2014 62,698 year year 74 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 26. INCOME TAX EXPENSE The Group The Company 2015 2014 2015 2014 22,644 27. EARNINGS PER SHARE The Group 2015 2014 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 28. DIVIDEND The Company 2015 2014 The Group 2015 2014 76 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 30. ACQUISITION OF A SUBSIDIARY Carrying Amount Fair Value Recognised 2015 31. CASH AND CASH EQUIVALENTS The Group The Company 2015 2014 2015 2014 ANNUAL REPORT 2015 77
NOTES TO THE FINANCIAL STATEMENTS 32. DIRECTORS REMUNERATION The Group The Company 2015 2014 2015 2014 Directors of the Company Directors of the Subsidiaries The Group 2015 2014 Number Of Directors 2 7 7 78 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 33. SIGNIFICANT RELATED PARTIES DISCLOSURES The Group 2015 2014 34. OPERATING SEGMENTS ANNUAL REPORT 2015 79
NOTES TO THE FINANCIAL STATEMENTS 34. OPERATING SEGMENTS BUSINESS SEGMENTS electrical parts engine and mechanical parts Others Group 2015 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 34. OPERATING SEGMENTS BUSINESS SEGMENTS electrical parts engine and mechanical parts Others Group 2015 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 34. OPERATING SEGMENTS BUSINESS SEGMENTS electrical parts engine and mechanical parts Others Group 2014 7,446,482 7,888,469 82 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 34. OPERATING SEGMENTS BUSINESS SEGMENTS electrical parts engine and mechanical parts Others Group 2014 The Group 2015 2014 Interest income ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 34. OPERATING SEGMENTS BUSINESS SEGMENTS The Group 2015 2014 The Group 2015 2014 GEOGRAPHICAL INFOATION Revenue Non-Current Assets 2015 2014 2015 2014 Others MAJOR CUSTOMERS 84 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (a) Market Risk USD EURO JPY The Group 2015 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (a) Market Risk USD EURO JPY The Group 2014 The Group 2015 2014 898,694 86 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (a) Market Risk The Group 2015 2014 (b) Credit Risk ANNUAL REPORT 2015 87
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (b) Credit Risk The Group 2015 2014 Others Gross Amount Individual Impairment Carrying Value The Group 2015 88 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (b) Credit Risk Gross Amount Individual Impairment Carrying Value The Group 2014 944,987 Trade receivables that are past due but not impaired Trade receivables that are neither past due nor impaired (c) Liquidity Risk ANNUAL REPORT 2015 89
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.1 FINANCIAL RISK MANAGEMENT POLICIES (c) Liquidity Risk Weighted Average Rate Carrying Amount Contractual Undiscounted Cash Flows Within 1 Year 1-5 Years The Group % 2015 422,779 8,998,964 2014 678,624 722,226 Carrying Amount Contractual Undiscounted Cash Flows Within 1 Year The Company 2015 2014 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.2 CAPITAL RISK MANAGEMENT The Group 2015 2014 422,779 678,624 ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.3 CLASSIFICATION OF FINANCIAL INSTRUMENTS The Group The Company 2015 2014 2015 2014 Financial Assets 42,922,897 47,782,946 92 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS 35. FINANCIAL INSTRUMENTS 35.4 FAIR VALUE INFOATION Fair Value Of Financial Instruments Carried At Fair Value Fair Value Of Financial Instruments Not Carried At Fair Value Total Fair Carrying The Group Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Value Amount 2015 422,779 2014 678,624 The Group 2015 2014 % % 36. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS 36. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 37. SIGNIFICANT EVENTS OCCURRING AFTER THE REPORTING PERIOD 94 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTES TO THE FINANCIAL STATEMENTS The Group The Company 2015 2014 2015 2014 subsidiaries ANNUAL REPORT 2015
LIST OF PROPERTIES As at 30 April 2015 No. Title/Address use Tenure of land/ Age of building Land area/ built up area (sq feet) Net Book Value 000 Year of 2 4 99 years 99 years 96 SOLID AUTOMOTIVE BERHAD (1016725-P)
LIST OF PROPERTIES As at 30 April 2015 No. Title/Address use Tenure of land/ Age of building Land area/ built up area (sq feet) Net Book Value 000 Year of 6 99 years 7 third party 6 years 648 8 4 years 9 99 years 678 4 years ANNUAL REPORT 2015 97
LIST OF PROPERTIES As at 30 April 2015 No. Title/Address use Tenure of land/ Age of building Land area/ built up area (sq feet) Net Book Value 000 Year of 6 years 767 99 years 24 years 99 years 22 years 99 years 24 years 98 SOLID AUTOMOTIVE BERHAD (1016725-P)
ANALYSIS OF SHAREHOLDINGS As at 31 July 2015 DISTRIBUTION OF SHAREHOLDING Category No. of Shareholders % No. of % 4 2 DIRECTORS SHAREHOLDINGS No. Name of Director Direct Shareholding % Indirect Shareholding % # 2 ^ 4 @ ^ 6 7 # Deemed interest in shares held by his spouse and children ^ Deemend interest in shares held by his children @ Deemed interest in shares held by his spouse ANNUAL REPORT 2015 99
ANALYSIS OF SHAREHOLDINGS As at 31 July 2015 LIST OF SUBSTANTIAL SHAREHOLDERS No. Name of Director Direct Shareholding % Indirect Shareholding % # 2 ^ # Deemed interest in shares held by his spouse and children ^ Deemend interest in shares held by his son THIRTY LARGEST SHAREHOLDERS No. Name Shareholdings % 2 4 6 7 8 9 22 SOLID AUTOMOTIVE BERHAD (1016725-P)
ANALYSIS OF SHAREHOLDINGS As at 31 July 2015 THIRTY LARGEST SHAREHOLDERS No. Name Shareholdings % 24 26 27 28 29 PLEDGED SECURITIES ACCOUNT FOR LOH YONG HUAT ANNUAL REPORT 2015
NOTICE OF THIRD ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN ORDINARY BUSINESS (Please refer to Note 1) RESOLUTION 1 RESOLUTION 2 RESOLUTION 3 RESOLUTION 4 RESOLUTION 5 SPECIAL BUSINESS 1965 RESOLUTION 6 SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTICE OF THIRD ANNUAL GENERAL MEETING Proposed Renewal of Shareholders Mandate for Recurrent Related Party RESOLUTION 7 ANNUAL REPORT 2015
NOTICE OF THIRD ANNUAL GENERAL MEETING FURTHER NOTICE IS HEREBY GIVEN rd ANG MUI KIOW CHEN YEW TING NOTES: 2. Form of Proxy SOLID AUTOMOTIVE BERHAD (1016725-P)
NOTICE OF THIRD ANNUAL GENERAL MEETING i. NOTICE OF DIVIDEND ENTITLEMENT AND PAYMENT NOTICE IS HEREBY GIVEN THAT PERSONAL DATA PRIVACY ANNUAL REPORT 2015
STATEMENT ACCOMPANYING NOTICE OF THIRD ANNUAL GENERAL MEETING Pursuant to Paragraph 8.27(2) of the Bursa Malaysia Securities Berhad Listing Requirements SOLID AUTOMOTIVE BERHAD (1016725-P)
SOLID AUTOMOTIVE BERHAD FO OF PROXY No. RESOLUTIONS FOR AGAINST 2 4 6 7 Number of ordinary shares held Notes: PERSONAL DATA PRIVACY
SOLID AUTOMOTIVE BERHAD