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150 SapuraCrest Petroleum Berhad Annual Report 2010 noteS to the FinAnCiAl StAtementS 31 January 2010 37. SuBSiDiARieS AnD ACtivitieS (Cont’D) (d) held through tl geoSciences Sdn. Bhd. (cont’d) (ii) On 24 August 2009, TL Geotechnics Sdn Bhd (“TLGSB”), a wholly owned subsidiary of TLGS, had completed the acquisition of 60% shareholding in TL Oilserve Sdn Bhd (“TLOSB”) from Scomi Group Berhad for a cash consideration of RM8.2 million. Subsequently on 30 September 2009, the Company transferred its 40% direct shareholding in TLOSB to TLGSB, thus making TLOSB a wholly owned subsidiary of TLGSB. The acquired subsidiary has contributed the following results to the Group: 2010 RM’000 Revenue 22,425 Profit for the year 3,400 If the acquisition had occurred on 1 February 2009, TLOSB’s contribution to the Group’s revenue and profit for the year would have been RM62,874,583 and RM5,709,929 respectively. The assets and liabilities arising from the acquisition are as follows: Fair value Acquiree’s recognised carrying on acquisition amount Rm’000 Rm’000 Property, plant and equipment (Note 13) 31,865 23,308 Trade and other receivables 19,078 19,078 Cash and bank balances 11,221 11,221 62,164 53,607 Trade and other payables (31,168) (31,168) Borrowings (7,035) (7,035) Deferred tax liabilities (Note 18) (30) (30) (38,233) (38,233)
37. SuBSiDiARieS AnD ACtivitieS (Cont’D) (d) held through tl geoSciences Sdn. Bhd. (cont’d) (ii) (cont’d) 2010 Rm’000 Fair value of net assets 23,931 Less: Minority interests (9,572) Group’s share of net assets 14,359 Reserve arising from acquisition (5,982) Total cost of acquisition 8,377 The cash outflow on acquisition is as follows: 2010 Rm’000 Purchase consideration satisfied by cash 8,173 Costs attributable to the acquisition, paid in cash 204 Total cash outflow of the Company 8,377 Cash and cash equivalents of subsidiaries acquired (11,221) Net cash inflow of the Group (2,844) name of Country of Proportion of Subsidiaries incorporation Principal Activities ownership interest (e) held through Sapura energy Sdn. Bhd. 2010 2009 % % Sapura Diving Services Malaysia Provision of services relating 100 100 Sdn. Bhd. to marine, oil and gas industries Sapura Retail Solutions Malaysia Retail automation systems 100 100 Sdn. Bhd. and maintenance services SE Projects Sdn. Bhd. Malaysia Systems integration, software 100 100 development, general engineering, maintenance and related activities 151 SapuraCrest Petroleum Berhad Annual Report 2010
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SapuraCrest Petroleum Berhad (45631
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BUILDING ON VALUES The theme “bui
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Notes: 1. Proxy Forms A member of t
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005 SapuraCrest Petroleum Berhad An
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FINANCIAL HIGHLIGHTS 31 January 200
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100% Sapura Retail Solutions Sdn Bh
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We set high standards of profession
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Tan Sri Datuk Amar (Dr.) Hamid Bugo
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Appointments held by Datuk Shahril
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Gee Siew Yoong (Independent Non-Exe
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MANAGEMENT Chief Executive Officer
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We will continually build up our kn
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Details of attendance at Board meet
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AUDIT COMMITTEE REPORT TERMS OF REF
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5.0 COMMITTEE MEETINGS 5.1 The Comm
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SUMMARY OF ACTIVITIES OF THE AUDIT
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ADDITIONAL COMPLIANCE INFORMATION P
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STATEMENT OF DIRECTORS’ RESPONSIB
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Financial Statements Director’s R
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DiviDenDS (Cont’D) In respect of
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iSSue oF ShAReS (a) During the fina
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StAtement By DiReCtoRS Pursuant to
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Report on other legal and regulator
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BAlAnCe SheetS As at 31 January 201
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ConSoliDAteD StAtement oF ChAngeS i
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ComPAny StAtement oF ChAngeS in equ
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2010 2009 Rm’000 Rm’000 Cash fl
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noteS to the FinAnCiAl StAtementS 3
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2. SigniFiCAnt ACCounting PoliCieS
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3. Revenue Revenue of the Group and
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7. PRoFit BeFoRe tAX (Cont’D) gro
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9. DiReCtoRS’ RemuneRAtion (Cont
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Page 119 and 120: 21. tRADe AnD otheR ReCeivABleS (Co
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Page 123 and 124: 24. ShARe CAPitAl AnD ShARe PRemium
Page 125 and 126: 25. emPloyee BeneFitS (Cont’D) em
Page 127 and 128: 27. Amount Due to SuBSiDiARieS Curr
Page 129 and 130: 28. BoRRowingS (Cont’D.) maturity
Page 131 and 132: 30. iStiSnA’ BonDS AnD muRABAhAh
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Page 135 and 136: 33. CoRPoRAte guARAnteeS group Comp
Page 137 and 138: 34. RelAteD PARty DiSCloSuReS (Cont
Page 139 and 140: 35. FinAnCiAl inStRumentS (Cont’D
Page 145 and 146: 36. Segment inFoRmAtion (Cont’D)
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Page 157 and 158: ANALYSIS OF SHAREHOLDINGS As at 21
Page 159 and 160: SUBSTANTIAl SHAREHOlDERS Based on R
Page 161 and 162: No. Name No. of Shares Held % 23 CH
Page 163 and 164: PROXY FORM I/We of being a Member o
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