ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2008 Company Non-distributable Distributable Share Share Share option Treasury Retained capital premium reserve shares earnings Total Note RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 At 1 January 2007 128,891 55,837 541 – 26,068 211,337 Expenses not recognised in income statement - Share issue expenses – (260) – – – (260) Net gains recognised directly in equity – (260) – – – (260) Profit for the year – – – – 82,523 82,523 Total recognised income and expense for the year – (260) – – 82,523 82,263 Issuance of shares - ESOS 3,232 1,477 – – – 4,709 - Bonus issue 129,523 (56,858) – – (72,665) – Share-based payments 18 – – 125 – – 125 Dividend to shareholders 23 – – – – (12,952) (12,952) Transfer to share premium for share options exercised – 375 (375) – – – At 31 December 2007/ 1 January 2008 261,646 571 291 – 22,974 285,482 Expenses not recognised in income statement - Share issue expenses – (13,221) – – – (13,221) Net gains recognised directly in equity – (13,221) – – – (13,221) Profit for the year – – – – 69,594 69,594 Total recognised income and expense for the year – (13,221) – – 69,594 56,373 Issuance of shares - ESOS 2,682 1,558 – – – 4,240 - Rights issue 65,934 989,010 – – – 1,054,944 - Bonus issue 659,348 (659,348) – – – – Share-based payments 18 – – 565 – – 565 Dividend to shareholders 23 – – – – (31,065) (31,065) Transfer to share premium for share options exercised – 569 (569) – – – Share buy-back – – – (21,006) – (21,006) At 31 December 2008 989,610 319,139 287 (21,006) 61,503 1,349,533 Note 14.1 Note 14.4 Note 14.5 Note 14.6 The notes on pages 60 to 117 are an integral part of these financial statements. KNM GROUP BERHAD 56 ANNUAL REPORT 2008
CASH FLOW STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 Group Company Note 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Cash flows from operating activities Profit before tax 453,721 215,358 70,970 101,162 Adjustments for: Amortisation of prepaid lease payments 193 162 – – Amortisation of intangible assets 33,670 – – – Depreciation of property, plant and equipment 6,301 2,524 – – Dividend income – – (67,000) (96,817) Loss/(Gain) on disposal of property, plant and equipment 163 (280) – – Gain on foreign exchange - unrealised (39,147) (6,239) – – Interest expenses 53,666 8,294 – 539 Interest income (6,832) (1,302) (1,403) (545) Goodwill written off – 1,050 – – Share-based payments 565 125 532 70 Provision for foreseeable losses 2,452 – – – Operating profit before changes in working capital 504,752 219,692 3,099 4,409 Changes in working capital: Inventories (1,555) (37,429) – – Receivables, deposits and prepayments (365,569) (98,082) (7,919) 78 Payables and accruals 145,394 18,660 2,069 (68,569) Cash generated from/(used in) operations 283,022 102,841 (2,751) (64,082) Tax paid (115,092) (22,780) (1,408) (2,733) Interest paid (426) (1,097) – – Interest received 6,832 1,302 1,403 545 Net cash generated from/ (used in) operating activities 174,336 80,266 (2,756) (66,270) KNM GROUP BERHAD 57 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
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 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: CONSOLIDATED STATEMENT OF CHANGES I
Page 61 and 62: CASH FLOW STATEMENTS FOR THE YEAR E
Page 63 and 64: NOTES TO THE FINANCIAL STATEMENTS (
Page 109 and 110:
NOTES TO THE FINANCIAL STATEMENTS (
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Page 117 and 118:
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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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