ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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CORPORATE GOVERNANCE STATEMENT (CONT’D) 2. Share Buy-Backs The Company had purchased 36,635,100 of its own shares during the financial year ended 31 December 2008, all of which were held as treasury shares and maintained by the Company. Details are as follows: Total Lowest Highest consideration No. of price paid price paid Average paid (including shares Par value for each for each price per transaction bought per share share share share costs) Month back (RM) (RM) (RM) (RM) (RM) January – – – – – – February – – – – – – March – – – – – – April – – – – – – May – – – – – – June – – – – – – July – – – – – – August – – – – – – September – – – – – – October 26,190,200 0.25 0.415 0.690 0.595 15,594,145.75 November 7,100,000 0.25 0.540 0.640 0.575 4,081,718.43 December 3,344,900 0.25 0.395 0.425 0.410 1,372,750.12 Total 36,635,100 0.575 21,048,614.30 3. Related Party Transactions All related party transactions for 2008 are set out in Note 27 to the Financial Statements. An internal compliance framework exists to ensure the Company meets its obligations under the Listing Requirements, including obligations relating to related party transactions. The Audit Committee will review all related party transactions and report the same to the Board. A Director who has an interest in a transaction abstains from deliberation and voting on the relevant resolution in respect of such transaction at the Board and at any general meeting convened to consider such transactions. 4. Options, Warrants or Convertible Securities No options, warrants or convertible securities were issued by the Company during the financial year under review except for the 300,000 ESOS share options as granted to the Independent Non-Executive Chairman pursuant to the shareholders’ mandate obtained at the Company’s Extraordinary General Meeting held on 27 March 2008. 5. American Depository Receipt (“ADR”) or Global Depository Receipt (“GDR”) programme The Company did not sponsor any ADR or GDR programme during the financial year under review. 6. Imposition of Sanctions and/or Penalties There were no sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or management by any relevant regulatory bodies. KNM GROUP BERHAD 30 ANNUAL REPORT 2008
CORPORATE GOVERNANCE STATEMENT (CONT’D) 7. Non-Audit Fees The amount of non-audit fees paid or payable to the external auditors and its affiliates in connection with services rendered to the Group and/or the Company for the financial year ended 31 December 2008 is as follows: Due/Payment to Purpose Amount (RM) Messrs KPMG Affiliates of KPMG Professional fees rendered for taxation, financial due diligence and as Reporting Accountants 732,112 Professional fees rendered for taxation, financial and tax due diligence 2,574,595 Total : 3,306,707 8. Variation in Results There was no significant variance between the results for the financial year under review and the unaudited results previously released by the Company. The Company had not released or announced any estimated profit, financial forecast and projection for the financial year ended 31 December 2008. 9. Profit Guarantee No profit guarantees were received by the Company for the financial year under review. 10. Material Contracts There were no material contracts entered into by the Company and/or its subsidiaries involving Directors and/or major shareholders’ interests either still subsisting at the end of the financial year ended 31 December 2008 or which were entered into since the end of the previous financial year. 11. Contracts Related to Loans There were no contracts relating to a loan by the Company and its subsidiaries in respect of the preceding item. 12. Revaluation of Landed Properties The Company’s revaluation policy in respect of the financial year ended 31 December 2008 is disclosed in Note 2 to the Financial Statements. KNM GROUP BERHAD 31 ANNUAL REPORT 2008
Page 1 and 2: KNM GROUP BERHAD (521348-H) World C
Page 3 and 4: CONTENTS 2 Corporate Information 3
Page 5 and 6: CORPORATE STRUCTURE AS AT 18 MAY 20
Page 7 and 8: Malaysia China Canada USA Brazil Au
Page 9 and 10: CHAIRMAN'S MESSAGE (CONT’D) FINAN
Page 11 and 12: CHAIRMAN'S MESSAGE (CONT’D) GLOBA
Page 13 and 14: 5-YEAR GROUP FINANCIAL HIGHLIGHTS K
Page 15 and 16: PROFILE OF DIRECTORS DATO’ MOHAMA
Page 17 and 18: PROFILE OF DIRECTORS (CONT’D) LEE
Page 19 and 20: CORPORATE GOVERNANCE STATEMENT The
Page 21 and 22: CORPORATE GOVERNANCE STATEMENT (CON
Page 31: CORPORATE GOVERNANCE STATEMENT (CON
Page 35 and 36: AUDIT COMMITTEE REPORT (CONT’D) 2
Page 37 and 38: AUDIT COMMITTEE REPORT (CONT’D) (
Page 39 and 40: STATEMENT ON INTERNAL CONTROL The B
Page 41 and 42: ANALYSIS OF SHAREHOLDINGS as at 18
Page 43 and 44: ANALYSIS OF SHAREHOLDINGS as at 18
Page 45 and 46: LIST OF MAJOR PROPERTIES OWNED BY T
Page 47 and 48: DIRECTORS’ REPORT for year ended
Page 49 and 50: DIRECTORS’ REPORT (CONT’D) Dire
Page 51 and 52: DIRECTORS’ REPORT (CONT’D) Opti
Page 53 and 54: BALANCE SHEETS AT 31 DECEMBER 2008
Page 55 and 56: INCOME STATEMENTS FOR THE YEAR ENDE
Page 57 and 58: CONSOLIDATED STATEMENT OF CHANGES I
Page 59 and 60: CASH FLOW STATEMENTS FOR THE YEAR E
Page 61 and 62: CASH FLOW STATEMENTS FOR THE YEAR E
Page 63 and 64: NOTES TO THE FINANCIAL STATEMENTS (
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NOTES TO THE FINANCIAL STATEMENTS (
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INDEPENDENT AUDITORS’ REPORT TO T
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NOTICE OF ANNUAL GENERAL MEETING NO
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NOTICE OF ANNUAL GENERAL MEETING (C
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KNM GROUP BERHAD (Company No. 52134
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(521348-H)
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ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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