TANJUNG OFFSHORE BERHAD

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OTHER DISCLOSURE REQUIREMENTS c) American Depository Receipt (“ADR”) or Global Depository Receipt (“GDR”) Programme. During the fi nancial year under review, the Company did not sponsor any ADR or GDR Programme. d) Imposition of Sanctions/Penalties 55 TANJUNG OFFSHORE BERHAD (662315-U) ANNUAL REPORT 2009 There were no public sanctions and/or penalties imposed on the Company or its subsidiaries, Directors or management by the relevant regulatory bodies during the fi nancial year under review. e) Non-Audit Fees There were no non-audit fees paid to the external auditors during the fi nancial year under review. f) Variation in Results There was a negative variance in the Group’s audited results for the fi nancial year ended 31 December 2009 and unaudited results for the same period which was announced on 23 February 2010. The variance was mainly due to the reversal of income recognised from claims made by our associate company, Cendor Mopu Producer Ltd (CMPL) from the Insurer of Mobile Offshore Production Unit (MOPU) for additional fabrication and rework costs on the MOPU during its mobilisation from United States of America to Malaysia. The reversal of amount claimed by CMPL from the insurer was made pending the completion of the arbitration procedures on the aforesaid claim. The total amount of claims that was reversed from the Company accounts for the year ended 31 December 2009 was RM3.42 million. The Company holds a 20% equity stake in CMPL. g) Material Contracts To the best of the Board’s knowledge, there are no material contracts involving the Group with any of the major shareholders or Directors in offi ce during the year under review. h) Contracts Relating to Loans No contract relating to loans was executed by the Company during the year under review. i) Revaluation of Landed Properties No revaluation was performed on any of the Group’s landed properties during the year under review. j) Profi t guarantees No profi t guarantees were provided by the Company or its subsidiaries during the year under review. k) Recurrent Related Party Transactions (“RRPT”) No RRPT were transacted during the year under review.
Financial Statements 57 Directors’ report 63 Statement by Directors 64 Statutory declaration 65 Report of the auditors 67 Balance sheet 68 Income statement 69 Statement of changes in equity 71 Cash fl ow statement 73 Notes to the fi nancial statements
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TANJUNG OFFSHORE BERHAD

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