KLInfra-AnnualReport2004 (1.1MB).pdf - Announcements - Bursa ...

5.5 Imposition of Sanctions and/or Penalties
CORPORATE GOVERNANCE STATEMENT
KL Infrastructure Group Berhad (Company No. 425654-M) (Incorporated in Malaysia) and its subsidiaries
The Company is not aware of any sanctions and/or penalties imposed on the Company and/or its subsidiary companies,
Directors or Management by the relevant regulatory bodies.
5.6 Non-audit fees
There were no non-audit fees paid or payable to the external auditors, Messrs. KPMG by the Company during the
financial year ended 30 April 2004.
5.7 Profit estimate, forecast or projection
There is no material variance between the audited results for the financial year and the unaudited results announced
by the Company.
The Company forecasted a net loss of RM42.0 million for the financial year ending 30 April 2004 in the Prospectus
dated 21 April 2003 in relation to the Public issue of 202,297,000 new ordinary shares. The audited net loss for the
financial year ended 30 April 2004 was RM46.2 million. The variance is mainly attributable to the lower ridership
revenues collected from KL Monorail operations. This is because, whilst full operations were assumed from
commencement date, in the Prospectus, actual operating hours were initially from 10:00 am to 3:00 pm. This was
progressively extended to run from 7:00am to 10:00pm. Effective only from 15 June 2004, the KL Monorail was
operating fully from 6:00 am to 12:00 midnight.
5.8 Profit Guarantee
During the financial year ended 30 April 2004, there were no profit guarantees given by the Company.
5.9 Material Contracts involving Directors’ and Substantial Shareholders’ Interests.
Save as disclosed below, there were no material contracts subsisting as at 30 April 2004 or entered into since the end
of the previous financial year, by the Company and its subsidiary companies, which involves the interests of Directors
and/or major shareholders.
A contract dated 8 August 2000 entered into between KL Monorail System Sdn. Bhd. and Monorail Malaysia
Technology Sdn. Bhd. (“MMT”), a subsidiary of MTrans Holdings Sdn. Bhd., whereby MMT undertake as Turnkey
Contractor for the design, manufacture, fabrication, delivery, assembly, installation, testing and commissioning of the
electrical and mechanical systems of the KL Monorail.
A contract dated 25 August 2000 entered into between KL Monorail System Sdn. Bhd. and MTrans Construction Sdn.
Bhd. (“MCSB”), a subsidiary of MTrans Holdings Sdn. Bhd., whereby MCSB undertake as Turnkey Contractor for the
design, construction of the depot, stations and guideways, relocation of utilities, provision of station electrical and
mechanical services including the automated fare collection system of the KL Monorail.
A contract dated 25 September 2000 entered into between KL Monorail System Sdn. Bhd. and MTrans Project Services
Sdn. Bhd. (formerly known as KL Monorail Project Services Sdn. Bhd.) (“MPS”), a subsidiary of MTrans Holdings Sdn.
Bhd. whereby MPS undertake project management services and administration of the construction of the KL Monorail.
A contract dated 6 June 2002 entered into between KL Monorail System Sdn. Bhd. and Monorail Malaysia Technology
Sdn. Bhd. (“MMT”), a subsidiary of MTrans Holdings Sdn. Bhd., whereby MMT will provide Operation and Maintenance
(O&M) Training and Support Services for the KL Monorail.
5.10 Revaluation Policy on Landed Properties
The Company has not revalued its landed properties.
5.11 Recurrent Related Party Transactions of Revenue or Trading Nature
Details of the significant transactions with related parties of a recurrent nature undertaken by the Group during the
financial year ended 30 April 2004 is disclosed in Note 22 of the financial statements.
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