BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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24 CEO’s Review Of Operations previous financial year. The increase was mainly attributed to the sale of its subsidiary, United Traders Securities Sdn Bhd for a total consideration of RM250 million. The disposal generated an exceptional gain of RM176.8 million. At the operational level, turnover and profit declined due to the reduction in the overall volume and value of shares traded in the stock market. The year 1997/98 was indeed a difficult year for the stockbroking industry. The stock market went on a downtrend in April 1997 due to the imposition of tighter restrictions on lending by the financial institutions. By July 1997, heavy selling escalated on both the Main Board and Second Board when the currency crisis in the region began. The Composite Index plummeted from 1,080.2 points to 626.0 points and the volume of shares traded on the Exchange fell by 6.4% to 60.7 billion shares for the financial year compared to the previous year. The value of shares traded reduced by 42.3% to RM268.3 billion and total market capitalisation fell from RM749.9 billion to RM377.0 billion during the same period. Despite the volatile and depressed market conditions, the financial performance of Inter- Pacific Securities Sdn Bhd and Eng Securities Sdn Bhd had been satisfactory due to the prudent policies adopted and proactive measures taken by the respective entities. In the derivatives market, Inter-Pacific Futures Sdn Bhd which is licensed to operate in Johor Bahru, registered a modest profit in its maiden year of operations. The satisfactory performance was attributed to the improved trading volume on The Kuala Lumpur Options and Financial Futures Exchange. With this encouraging result, Inter-Pacific Futures plans to expand its operations by increasing the number of Futures Broker’s Representatives. Inter-Pacific Futures has also commenced operations in Kuala Lumpur through a dual licensing arrangement with Inter-Pacific Securities on 1 July 1998. During the year, the paid-up capital of Inter- Pacific Capital was increased from RM200 million to RM300 million so as to increase its working capital and to further enhance its financial position. Inter-Pacific Securities also increased its paid-up capital from RM150 million to RM250 million while Eng Securities’s paid-up capital remain unchanged at RM100 million. Business sentiments will also likely be depressed in an environment of unstable currency rates, tight liquidity conditions and unprecedented high interest rates. The confidence of both the foreign and local investors is expected to remain low. In view of the foregoing, the group expects 1998/99 to be another difficult year with the stock market going into a consolidation phase. INTER-PACIFIC SECURITIES’ VIEWING GALLERY. LIFE ASSURANCE The financial year 1997/98 has been a very challenging one for Berjaya Prudential Assurance Berhad. Despite the economic turmoil and currency devaluation, Berjaya Prudential continued to record growth. During the year under review, Berjaya Prudential achieved new business sales of RM152 million, an increase of 9% compared to the previous year. This has firmly entrenched the company as the third largest life company in the industry with a new business market
25 Tinjauan Operasi Ketua Pegawai Eksekutif Lebih 100 terminal luar talian berasaskan komputer peribadi (PC) dipasang di Accra, ibu negara Ghana dan dua bandaraya berdekatan. PERKHIDMATAN KEWANGAN PEMBROKERAN SAHAM Inter-Pacific Capital Sdn Bhd mencatatkan keuntungan berjumlah RM250.1 juta yang menunjukkan peningkatan sebanyak 46.6% berbanding RM170.6 juta yang diperolehi pada tahun kewangan sebelumnya. Sebahagian besar daripada peningkatan ini adalah hasil daripada penjualan anak syarikatnya, United Traders Securities Sdn Bhd dengan pembayaran sebanyak RM250 juta. Penjualan tersebut menghasilkan keuntungan luar biasa RM176.8 juta. Perolehan dan keuntungan di bahagian operasi merosot akibat pengurangan keseluruhan jumlah dan nilai saham di pasaran saham. Industri pembrokeran saham mengharungi tempuh sukar bagi Tahun 1997/98. Pasaran saham menjurus ke arah aliran menurun pada bulan April 1997 berikutan syarat-syarat yang lebih ketat dalam pinjaman yang dikenakan oleh institusi-institusi kewangan. Apabila krisis mata wang bermula di rantau ini pada bulan Julai 1997, penjualan secara besar-besaran di Papan Utama dan Papan Kedua turut berlaku. Indeks Komposit jatuh menjunam daripada 1,080.2 mata kepada 626.0 mata dan jumlah dagangan saham di Bursa juga susut pada kadar 6.4% kepada 60.7 bilion saham bagi tahun kewangan yang dilaporkan berbanding tahun sebelumnya. Nilai dagangan saham menurun sebanyak 42.3% kepada RM268.3 bilion dan pada masa yang sama jumlah permodalan pasaran juga turut menurun daripada RM749.9 bilion kepada RM377.0 bilion. Namun, keadaan pasaran yang merosot dan tertekan tidak menghalang Inter-Pacific Securities Sdn Bhd dan Eng Securities Sdn Bhd daripada mencapai prestasi kewangan yang memberangsangkan. Ini adalah hasil daripada pengamalan polisi-polisi bijak serta pendekatan proaktif oleh kedua-dua entiti tersebut. Dalam pasaran terbitan, Inter-Pacific Futures Sdn Bhd yang diberi lesen untuk operasi di Johor Bahru mencatatkan keuntungan yang sederhana pada tahun pertama operasinya bermula. Prestasi yang memuaskan ini disebabkan peningkatan jumlah dagangan di Bursa Opsyen dan Kewangan Hadapan Kuala Lumpur. Berdasarkan keputusan yang menggalakkan ini, Inter-Pacific Futures merancang untuk meluaskan lagi operasinya dengan menambah bilangan Wakil Broker Pasaran Hadapan. Inter-Pacific Futures juga telah mula beroperasi di Kuala Lumpur menerusi perlesenan duaan dengan Inter-Pacific Securities pada 1 Julai 1998. Pada tahun di bawah kajian, modal berbayar Inter-Pacific Capital telah ditambah daripada RM200 juta kepada RM300 juta bagi meningkatkan modal kerja dan seterusnya mengukuhkan lagi kedudukan kewangannya. Inter-Pacific Securities juga turut menambah modal berbayarnya daripada RM150 juta kepada RM250 juta manakala modal berbayar Eng Securities kekal pada tahap RM100 juta.
Page 1 and 2: Strength In Diversity BERJAYA GROUP
Page 3 and 4: The corporate logo comprises the wo
Page 5 and 6: TAN SRI DATO’ TAN KOK PING EXECUT
Page 7 and 8: 5 Corporate Profile The Berjaya Gro
Page 9 and 10: VACATION TIME-SHARE, HOTELS, RESORT
Page 11 and 12: 9 Financial Highlights RM million T
Page 13 and 14: BEFORE CHANGE IN SHAREHOLDING * 199
Page 15 and 16: 13 Group Addresses BERJAYA MAHE BEA
Page 17 and 18: 15 Group Addresses RESTAURANTS ROAD
Page 19 and 20: 17 Penyata Pengerusi Kegawatan ekon
Page 21 and 22: 19 Penyata Pengerusi Pada bulan Jun
Page 23 and 24: 21 Penyata Pengerusi Kekuatan Kumpu
Page 25: 23 Tinjauan Operasi Ketua Pegawai E
Page 29 and 30: 27 Tinjauan Operasi Ketua Pegawai E
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Page 67 and 68: F I N A N C I A L S T A T E M E N T
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75 B A L A N C E S H E E T S AT 30
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77 C O N S O L I D A T E D C A S H
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79 N O T E S T O T H E A C C O U N
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127 L I S T O F P R O P E R T I E S
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147 N O T I C E O F A N N U A L G E
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149 L O C A T I O N M A P Bukit Jal
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151 F O R M O F P R O X Y BERJAYA G
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BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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