Connecting the nation. and Beyond. - ChartNexus

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156 / MRCB annual report 2011 / INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MALAYSIAN RESOURCES CORPORATION BERHAD (Incorporated in Malaysia) (Company No. 7994 D) REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report the following: (a) In our opinion, the accounting and other records and registers required by the Act to be kept by the Company and its subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the Act. (b) We have considered the financial statements and the auditors’ reports of subsidiaries of which we have not acted as auditors which are indicated in Note 46 to the financial statements. (c) We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Company’s financial statements are in form and content appropriate and proper for the purposes of the preparation of the financial statements of the Group and we have received satisfactory information and explanations required by us for those purposes. (d) The audit reports on the financial statements of the subsidiaries did not contain any qualification or any adverse comment made under Section 174(3) of the Act. OTHER REPORTING RESPONSIBILITIES The supplementary information set out in Note 52 on page 258 is disclosed to meet the requirement of Bursa Malaysia Securities Berhad and is not part of the financial statements. The directors are responsible for the preparation of the supplementary information in accordance with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants (“MIA Guidance”) and the directive of Bursa Malaysia Securities Berhad. In our opinion, the supplementary information is prepared, in all material respects, in accordance with the MIA Guidance and the directive of Bursa Malaysia Securities Berhad. OTHER MATTERS This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies Act 1965 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report. PRICEWATERHOUSECOOPERS THAYAPARAN A/L S.SANGARAPILLAI (No. AF: 1146) (No. 2085/09/12 (J)) Chartered Accountants Chartered Accountant Kuala Lumpur 14 February 2012
STATEMENTS OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2011 / MRCB laporan tahunan 2011 / 157 Group Company Note 2011 2010 2011 2010 RM’000 RM’000 RM’000 RM’000 Revenue 8 1,213,077 1,067,579 267,269 344,332 Cost of sales 9 (993,101) (873,016) (240,458) (283,651) Gross profit 219,976 194,563 26,811 60,681 Other income: - gain on disposal 10 5,290 – 39,115 – - others 10 23,319 21,754 15,976 15,414 Selling and distribution costs (10,600) (2,898) (1,081) (854) Administrative expenses (71,030) (61,120) (26,576) (21,217) Other operating expenses: - allowance for impairment losses (8,220) (5,379) (93,781) (1,548) - write back of/(allowance for) doubtful debts • subsidiaries – – 22,657 8,283 • others 4,142 (932) (43) 185 - others (40,015) (36,235) 85,577 (18,045) Finance income 10 23,923 30,847 20,655 29,076 Finance costs 14 (35,213) (31,449) (24,462) (23,243) Share of results of associates 22 (1,469) (5,530) – – Share of results of jointly controlled entities 23 (2,852) (6,046) – – Profit before income tax 11 107,251 97,575 64,848 48,732 Income tax expense 15 (15,326) (23,781) (1,911) (9,300) Profit for the financial year 91,925 73,794 62,937 39,432 Other comprehensive income for the financial year, net of tax - Revaluation reserve arising from acquisition of subsidiary – 28,090 – – - Currency translation differences 419 1,467 – – - Share of an associate’s other comprehensive income 1,164 – – – Total comprehensive income for the financial year, net of tax 93,508 103,351 62,937 39,432
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Connecting the nation. and Beyond.
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CONTENTS/KANDUNGAN 4 Vision & Missi
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MRCB laporan tahunan 2011 / 3
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CORPORATE INFORMATION MAKLUMAT KORP
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EDUCATING YOUTH / MRCB laporan tahu
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ENVIRONMENTAL INITIATIVES As a lead
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As the construction project is in t
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23 Mar MRCB receives BrandLaureate
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19-21 Jun MRCB Participates in Lang
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15 Sept MRCB Presents Key to SME Co
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6 Dec MRCB Holds EDL Briefi ng MRCB
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NOTICE OF DIVIDEND PAYMENT NOTICE I
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NOTIS PEMBAYARAN DIVIDEN DENGAN INI
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Left Dato’ Chong Pah Aung Indepen
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Datuk Mohamed Razeek Md Hussain Mar
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Dato’ Abdul Rahman Ahmad Independ
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Che King Tow Independent Director P
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Jamaludin Zakaria Independent Direc
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Member The Edge Billion Ringgit Clu
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ENGINEERING & CONSTRUCTION KEJURUTE
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Dear Valued Shareholders, Malaysian
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throughout the building. Buoyed by
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Our portfolio includes Stesen Sentr
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PENYATA PENGERUSI Para Pemegang Sah
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Pelbagai anugerah berjaya dicapai s
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Di Johor, Lebuhraya EDL dan Hospita
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Tujuan utama taklimat ini adalah un
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CHARTS Group Revenue (RM Million) 1
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Retail Peruncitan Chief Operating O
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Infrastructure, Concession & Enviro
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BUILDING GREEN / MRCB laporan tahun
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OPERATIONS REVIEW Property Developm
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award-winning architectural and pro
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Lot E: KL Sentral Park KL Sentral P
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Lot G: Offi ce (Perdana Sentral) An
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Completed Developments At Kuala Lum
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Plaza Sentral represents a sound in
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Selbourne Square, Shah Alam MRCB Se
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Plaza Alam Sentral With 91% occupan
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OPERATIONS REVIEW Engineering & Con
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The Brickfi elds and Kuala Lumpur S
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OPERATIONS REVIEW Infrastructure, C
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MRCB’s capability in the rehabili
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OPERATIONS REVIEW Building Services
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NEW GREEN TECHNOLOGY VENTURES Among
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of the planned six million sq. ft.
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OPERATIONS REVIEW Group Support Ser
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The Terms of Reference of each Comm
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Table 3: Details of attendance of m
Page 107 and 108: Table 6: Details of Aggregate Direc
Page 109 and 110: f Keeping tabs with the company’s
Page 111 and 112: d annual general meeting (“agm”
Page 113 and 114: penYata taDBIr UrUs Korporat Lembag
Page 115 and 116: Jadual 2: Butiran kehadiran ahli di
Page 117 and 118: Jadual 4: Butiran kehadiran ahli di
Page 119 and 120: 4. tatacara LemBaga pengaraH Lembag
Page 121 and 122: c pencegahan penipuan Lembaga Penga
Page 123 and 124: MRCB juga terus diwakili sebagai ah
Page 125 and 126: • the going concern assumption; a
Page 127 and 128: viii) Deliberated and approved the
Page 129 and 130: • sebarang perubahan dasar dan am
Page 131 and 132: v) Mengkaji penemuan audit dan audi
Page 133 and 134: penYata KaWaLan DaLaman Lembaga Pen
Page 135 and 136: Laporan pengUrUsan rIsIKo Salah sat
Page 137 and 138: v) sanctions and/or penalties Impos
Page 139 and 140: v) sekatan dan/atau Denda yang Dike
Page 141 and 142: KontraK-KontraK pentIng mrcB (JanUa
Page 143 and 144: anaLIsa pegangan saHam PADA 31 JANU
Page 145 and 146: MRCB laporan tahunan 2011 / 143 nam
Page 147 and 148: MRCB laporan tahunan 2011 / 145 nam
Page 149 and 150: MRCB laporan tahunan 2011 / 147 Des
Page 151 and 152: FINANCIAL REPORT 2011 150 Directors
Page 153 and 154: DIRECTORS (cont’d) In accordance
Page 155 and 156: STATUTORY INFORMATION ON THE FINANC
Page 157: INDEPENDENT AUDITORS’ REPORT TO T
Page 161 and 162: STATEMENTS OF FINANCIAL POSITION AS
Page 163 and 164: CONSOLIDATED STATEMENTS OF CHANGES
Page 165 and 166: COMPANY STATEMENTS OF CHANGES IN EQ
Page 167 and 168: STATEMENTS OF CASH FLOWS FOR THE FI
Page 169 and 170: OPERATING ACTIVITIES (cont’d) / M
Page 171 and 172: FINANCING ACTIVITIES / MRCB laporan
Page 173 and 174: 2 SUMMARY OF SIGNIFICANT ACCOUNTING
Page 191 and 192: 4 FINANCIAL RISK MANAGEMENT (cont
Page 193 and 194: 4 FINANCIAL RISK MANAGEMENT (cont
Page 195 and 196: 5 ACQUISITION OF SUBSIDIARIES (cont
Page 197 and 198: 7 INTANGIBLE ASSETS The carrying am
Page 199 and 200: 10 OTHER INCOME Group Company 2011
Page 201 and 202: 12 STAFF COSTS Group Company 2011 2
Page 203 and 204: 15 INCOME TAX EXPENSE (a) Tax charg
Page 205 and 206: 16 EARNINGS PER SHARE (a) Basic ear
Page 207 and 208: 17 PROPERTY, PLANT AND EQUIPMENT (c
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17 PROPERTY, PLANT AND EQUIPMENT (c
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18 INVESTMENT PROPERTIES (cont’d)
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19 PROPERTY DEVELOPMENT ACTIVITIES
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19 PROPERTY DEVELOPMENT ACTIVITIES
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21 SUBSIDIARIES / MRCB laporan tahu
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23 JOINTLY CONTROLLED ENTITIES Grou
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25 DEFERRED TAX Deferred tax assets
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27 TRADE AND OTHER RECEIVABLES Grou
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27 TRADE AND OTHER RECEIVABLES (con
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30 DEPOSITS, CASH AND BANK BALANCES
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31 SHARE CAPITAL (cont’d) Employe
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33 LOAN STOCKS AT COST The loan sto
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35 SENIOR AND JUNIOR SUKUK (cont’
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37 LONG TERM BORROWINGS - SECURED (
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39 TRADE AND OTHER PAYABLES Group C
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41 SHORT TERM BORROWINGS Secured: G
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43 RELATED PARTY DISCLOSURES (cont
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46 SUBSIDIARIES, JOINTLY CONTROLLED
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47 SEGMENT REPORTING Management has
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47 SEGMENT REPORTING (cont’d) Yea
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48 SIGNIFICANT EVENTS DURING THE FI
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50 COMPARATIVES Comparative figures
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PROXY FORM (Please see the notes be
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BORANG PROKSI (Sila Lihat Nota-Nota
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MaLaYSIan reSourCeS CorporaTIon Ber
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