ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 18. Employee benefits (cont’d) Equity compensation benefits (Cont’d) Employees’ Share Option Scheme (Cont’d) The options outstanding at 31 December 2008 have an exercise price of RM0.25 (2007 – RM0.27 to RM0.48) and a weighted average contractual life of 1 year. During the year, 9,767,500 (2007 - 12,143,000) share options were exercised. The weighted average share price for the year was RM3.84 (2007 - RM9.02). The fair value of services received in return for share options granted is based on the fair value of share options granted, measured using a trinomial lattice model, with the following inputs: Fair value of share options and assumptions Group and Company 2008 2007 Fair value at grant date RM1.64 RM0.74 Weighted average share price RM5.08 RM2.21 Exercise price RM4.58 RM1.92 Expected volatility (weighted average volatility) 55.49% 28.5% Option life (expected weighted average life) 1 year 3 years Expected dividend yield 0.79% 1.5% Employee expenses Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Share options granted in 2007 73 125 40 70 Share options granted in 2008 492 – 492 – Total expense recognised as share-based payments 565 125 532 70 KNM GROUP BERHAD 92 ANNUAL REPORT 2008
NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 19. Operating profit Operating profit is arrived at after charging: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Auditors’ remuneration Audit services Company’s auditors - current year 387 325 110 70 - prior year 56 88 35 17 Affiliates of Company’s auditors - current year 2,860 1,496 – – - prior year 41 507 – – Other auditors 30 6 – – Other services - Company’s auditors 655 151 444 151 Allowance for doubtful debts 22,767 17,103 – – Amortisation of intangible assets 33,670 – – – Amortisation of prepaid lease payments 193 162 – – Depreciation of property, plant and equipment (Note 3.1) 6,301 2,524 – – Directors’ emoluments: - Remuneration 3,846 1,946 3,642 1,946 - Fees 613 378 613 378 - Share-based payments 532 70 532 70 Goodwill written off – 1,050 – – Loss on foreign exchange - realised – 4,213 – – Rental of premises 9,183 4,175 – – Rental of equipment 3,108 1,069 – – Personnel expenses - Contribution to Employees’ Provident Fund 11,191 6,576 – – - Share-based payments 33 55 – – - Wages, salaries and others 153,216 59,547 – – Bad debts written off 1,062 – – – Loss on disposal of property, plant and equipment 163 – – – Provision for foreseeable losses 2,452 – – – and after crediting: Gain on disposal of property, plant and equipment – 280 – – Gain on foreign exchange - unrealised 39,147 6,239 – – - realised 16,473 – – – Rental income 9 – – – Bad debts recovered 1,346 – – – KNM GROUP BERHAD 93 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
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 (
Page 93: NOTES TO THE FINANCIAL STATEMENTS (
Page 121 and 122: INDEPENDENT AUDITORS’ REPORT TO T
Page 123 and 124: NOTICE OF ANNUAL GENERAL MEETING NO
Page 125 and 126: NOTICE OF ANNUAL GENERAL MEETING (C
Page 127 and 128: KNM GROUP BERHAD (Company No. 52134
Page 129: (521348-H)
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ANNUAL REPORT 2008 - KNM Steel Sdn Bhd

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