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Boustead Holdings Berhad 2009 Annual Report TAN sRi DATO’ lODiN WOK KAmARuDDiN Deputy Chairman/Group managing Director 012
013 DEAR SHAREHOLDER, CHIEF ExECUTIVE’S REVIEW It has indeed been a trying year. This fact however has never held us back in the past and as such we steadfastly pursued the opportunities that lay inherent within our Divisions. To complement these initiatives, we have also undertaken strategic measures to fortify our balance sheet and improve our future earnings potential. Irrespective of being in the midst of a booming economy or an economy that is on a downward spiral, one thing remains at Boustead, our focus. Through good years and bad, we have made a concerted decision to focus on our strategies which are: • to deliver world class products and services by channelling our investments to build on what we already have; • to enhance shareholder value by seizing opportunities locally and internationally, be it organically or inorganically; • to maximise our earnings potential by fortifying our operations, improving our profitability track record and dividend yield; • and to reinvest in talent which is crucial in order for us to achieve our goals and cultivate a positive corporate culture. FINANCIAL PERFORMANCE In the face of depressed economic conditions, the Group delivered positively, a RM502 million profit before tax on a turnover amounting to RM5.4 billion. We were able to deliver this result on account of our intention to remain diversified as a key participant in the various sectors of the Malaysian economy. With a large stable of privately held companies, listed corporations and the only Islamic plantation REIT in the country, the Group is wisely diversified in its investments and market share. During the year, we were able to deliver on our key performance indicators (KPI) for Government Linked Companies even in these trying conditions. A point to note, we indeed outperformed particularly in the category of dividends. KPI Actual Target Return on Equity 10.1% 10.0% Return on Assets 7.1% 7.0% Dividend (net of tax) 22.1 sen 15.0 sen Boustead Holdings Berhad 2009 Annual Report
Page 1 and 2: BOUSTEAD HOLDINGS BERHAD 3871-H 28t
Page 3 and 4: BOUSTEAD GROUP THE ROOTs Of OuR GRO
Page 5 and 6: BlOOmiNG Despite challenging market
Page 7 and 8: DivERsiTy iN OuR BusiNEss fOCus In
Page 9 and 10: 07 GEN. TAN sRi DATO’ mOHD GHAZAl
Page 11 and 12: 09 Boustead Holdings Berhad 2009 An
Page 13: 011 HUMAN CAPITAL Talent is crucial
Page 17 and 18: 015 Our Finance and Investment Divi
Page 19 and 20: 017 Your Group are firm believers i
Page 21 and 22: 019 Boustead Holdings Berhad 2009 A
Page 23 and 24: 021 ESTATES AND MILLS Biotherm Palm
Page 25 and 26: 023 The year saw the completion of
Page 29 and 30: 027 The Muda Living Quarters Struct
Page 31 and 32: 029 The Division registered a profi
Page 33 and 34: 031 In Mutiara Damansara, it has al
Page 35 and 36: 033 but also in its tenant mix. Ret
Page 37 and 38: 035 The glassed-in courtyard at the
Page 41 and 42: 039 Affin Fund Management Berhad (A
Page 43 and 44: 041 FINANCIAL HIGHLIGHTS 4,000 40 1
Page 45 and 46: 043 BHPetrolmart Boustead Global Tr
Page 47 and 48: 045 FINANCIAL HIGHLIGHTS REVENUE RM
Page 49 and 50: 047 Idaman Pharma Manufacturing Sdn
Page 53 and 54: 053 ENVIRONMENT The Group places em
Page 55 and 56: Boustead Holdings Berhad 2009 Annua
Page 57 and 58: 055 FINANCIAL PERFORMANCE 2009 2008
Page 59 and 60: 057 FINANCIAL YEAR 1 January to 31
Page 61 and 62: 059 Y. Bhg. Gen. Tan Sri Dato’ Mo
Page 63 and 64: 061 y. BHG. DATO’ (DR.) mEGAT ABD
Page 65 and 66:
063 6 7 10 8 11 6 MR. TENG PENG KHE
Page 67 and 68:
065 20 21 22 23 24 25 26 20 MR. KOH
Page 69 and 70:
067 TERMS OF REFERENCE OF THE AUDIT
Page 71 and 72:
069 INTERNAL AUDIT FUNCTION The Gro
Page 73 and 74:
071 The terms and conditions of the
Page 75 and 76:
073 RE-ELECTION OF DIRECTORS In acc
Page 77 and 78:
075 DIRECTORS’ REMUNERATION Boust
Page 79 and 80:
077 ACCOUNTABILITY AND AUDIT Financ
Page 81 and 82:
079 STATEMENT ON INTERNAL CONTROL B
Page 83 and 84:
081 KEY ELEMENTS OF INTERNAL CONTRO
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