TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
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OTHER DISCLOSURE REQUIREMENTS<br />
c) American Depository Receipt (“ADR”) or Global Depository Receipt (“GDR”) Programme.<br />
During the fi nancial year under review, the Company did not sponsor any ADR or GDR Programme.<br />
d) Imposition of Sanctions/Penalties<br />
55<br />
<strong>TANJUNG</strong> <strong>OFFSHORE</strong> <strong>BERHAD</strong> (662315-U)<br />
ANNUAL REPORT 2009<br />
There were no public sanctions and/or penalties imposed on the Company or its subsidiaries, Directors or management by<br />
the relevant regulatory bodies during the fi nancial year under review.<br />
e) Non-Audit Fees<br />
There were no non-audit fees paid to the external auditors during the fi nancial year under review.<br />
f) Variation in Results<br />
There was a negative variance in the Group’s audited results for the fi nancial year ended 31 December 2009 and unaudited<br />
results for the same period which was announced on 23 February 2010.<br />
The variance was mainly due to the reversal of income recognised from claims made by our associate company, Cendor<br />
Mopu Producer Ltd (CMPL) from the Insurer of Mobile Offshore Production Unit (MOPU) for additional fabrication and rework<br />
costs on the MOPU during its mobilisation from United States of America to Malaysia. The reversal of amount claimed by<br />
CMPL from the insurer was made pending the completion of the arbitration procedures on the aforesaid claim. The total<br />
amount of claims that was reversed from the Company accounts for the year ended 31 December 2009 was RM3.42 million.<br />
The Company holds a 20% equity stake in CMPL.<br />
g) Material Contracts<br />
To the best of the Board’s knowledge, there are no material contracts involving the Group with any of the major shareholders<br />
or Directors in offi ce during the year under review.<br />
h) Contracts Relating to Loans<br />
No contract relating to loans was executed by the Company during the year under review.<br />
i) Revaluation of Landed Properties<br />
No revaluation was performed on any of the Group’s landed properties during the year under review.<br />
j) Profi t guarantees<br />
No profi t guarantees were provided by the Company or its subsidiaries during the year under review.<br />
k) Recurrent Related Party Transactions (“RRPT”)<br />
No RRPT were transacted during the year under review.
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