ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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STATEMENT BY DIRECTORS PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965 In the opinion of the Directors, the financial statements set out on pages 51 to 117 are drawn up in accordance with Financial Reporting Standards and the Companies Act, 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company at 31 December 2008 and of their financial performance and cash flows for the year then ended. Signed on behalf of the Board of Directors in accordance with a resolution of the Directors: Dato’ Mohamad Idris bin Mansor Lee Swee Eng Kuala Lumpur, Date: 28 April 2009 STATUTORY DECLARATION PURSUANT TO SECTION 169(16) OF THE COMPANIES ACT, 1965 I, Ho Guan Ming, the officer primarily responsible for the financial management of KNM Group Berhad, do solemnly and sincerely declare that the financial statements set out on pages 51 to 117 are, to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the Statutory Declarations Act, 1960. Subscribed and solemnly declared by the above named in Kuala Lumpur in the Federal Territory on 28 April 2009 Ho Guan Ming Before me: KNM GROUP BERHAD 118 ANNUAL REPORT 2008
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF KNM GROUP BERHAD Report on the Financial Statements We have audited the financial statements of KNM Group Berhad, which comprise the balance sheets as at 31 December 2008 of the Group and of the Company, and the income statements, statements of changes in equity and cash flow statements of the Group and of the Company for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 51 to 117. Directors’ Responsibility for the Financial Statements The Directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance with Financial Reporting Standards and the Companies Act, 1965 in Malaysia. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and the Companies Act, 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company as of 31 December 2008 and of their financial performance and cash flows for the year then ended. KNM GROUP BERHAD 119 ANNUAL REPORT 2008
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KNM GROUP BERHAD (521348-H) World C
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CONTENTS 2 Corporate Information 3
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CORPORATE STRUCTURE AS AT 18 MAY 20
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Malaysia China Canada USA Brazil Au
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CHAIRMAN'S MESSAGE (CONT’D) FINAN
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CHAIRMAN'S MESSAGE (CONT’D) GLOBA
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5-YEAR GROUP FINANCIAL HIGHLIGHTS K
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PROFILE OF DIRECTORS DATO’ MOHAMA
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PROFILE OF DIRECTORS (CONT’D) LEE
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CORPORATE GOVERNANCE STATEMENT The
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CORPORATE GOVERNANCE STATEMENT (CON
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AUDIT COMMITTEE REPORT (CONT’D) 2
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AUDIT COMMITTEE REPORT (CONT’D) (
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STATEMENT ON INTERNAL CONTROL The B
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ANALYSIS OF SHAREHOLDINGS as at 18
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ANALYSIS OF SHAREHOLDINGS as at 18
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LIST OF MAJOR PROPERTIES OWNED BY T
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DIRECTORS’ REPORT for year ended
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DIRECTORS’ REPORT (CONT’D) Dire
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DIRECTORS’ REPORT (CONT’D) Opti
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BALANCE SHEETS AT 31 DECEMBER 2008
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INCOME STATEMENTS FOR THE YEAR ENDE
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CONSOLIDATED STATEMENT OF CHANGES I
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CASH FLOW STATEMENTS FOR THE YEAR E
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CASH FLOW STATEMENTS FOR THE YEAR E
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NOTES TO THE FINANCIAL STATEMENTS (
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ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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