2001 Annual Report - Kian Joo Can

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NOTES TO THE FINANCIAL STAT E M E N T S 31 December 2001 ( c o n t ’ d ) 23. DIVIDENDS PER SHARE Group/Company 2001 2000 RM'000 RM'000 Interim dividend of 10%, tax exempt 5,786 5,786 Proposed dividend:- - final dividend of 10%, tax exempt 5,786 5,786 11,572 11,572 The dividend per share is calculated by dividing the dividends declared for the year of RM11,572,000 (2000: RM11,572,000) by the number of ord i n a ry shares in issue at year end of 115,720,117 (2000: 115,720,117). 24. SIGNIFICANT RELATED PARTY TRANSACTIONS Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 Sales to subsidiary companies - - (33,906) (37,585) Sales to associated company 352 157 - - Rental receivable from subsidiary companies - - (780) (792) Rental receivable from associate company 2,191 2,191 - - Interest income receivable rom subsidiary company - - (200) - Management fees receivable from associated company (1,589) (1,330) Purchases from subsidiary companies - - 6,260 9,619 Purchases from associated company 202 434 - - Rental payable to subsidiary company - - 12 12 Purchase of property, plant and equipment from subsidiary company - - 7,534 - Apart from the above, the Group also entered into the following related party transactions:- Group (i) Nature of transaction Identity of related party 2001 2000 RM'000 RM'000 Sales of trading inventories Carlsberg Brewery Malaysia 21,504 28,212 by a subsidiary company Berhad ("Carlsberg") The party is deemed related to the Group by virtue of common directorship held by Y.A.M. Tunku Naquiyuddin Ibni Tunku Ja'afar in Carlsberg and the Company. Group (ii) Nature of transaction Identity of related party 2001 2000 RM'000 RM'000 Sales of trading inventories Hercules Sdn. Bhd. 453 52 by a subsidiary company ("Hercules") The party is deemed related to the Group by virtue of common directorship held by See Leong Chye @ Sze Leong Chye in Hercules and a subsidiary company. The above transactions were entered into in the normal course of business on terms that the Directors consider comparable to those had the transactions been entered into with third parties. KIAN JOO CAN FACTORY BERHAD (3186-P) 2001 / Annual Report . 53
NOTES TO THE FINANCIAL STAT E M E N T S 31 December 2001 ( c o n t ’ d ) 25. COMMITMENTS (a) Capital Commitments Capital expenditure not provided for in the financial statements is as follows:- Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 Capital expenditure approved and contracted for 8,442 4,914 3,300 270 Capital expenditure approved but not contracted for 6,300 - 6,300 - (b) Operating Lease Commitments The future minimum lease payments of the Group and of the Company under non-cancellable operating leases are summarised as follows:- Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 1 year after balance sheet date 504 853 113 203 More than 1 year but not later than five years 155 140 22 108 26. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (a) (b) On 1 July 2001, the Company completed its acquisition of the remaining issued and paid up share capital of KJM Aluminium Can Sdn. Bhd. comprising 24,000,000 ordinary shares of RM1.00 each from Mitsubishi Corporation and Mitsubishi Materials Corporation for a cash consideration of RM3.6 million. As a result of the acquisition, KJM Alumium Can Sdn. Bhd. became a wholly-owned subsidiary of the Company. On 13 August 2001, Arab-Malaysian Merchant Bank Berhad, on behalf of the Board of Directors of the Company, had announced that the Company proposed to establish an employee share option scheme of up to ten per cent (10%) of the Company's issued and paid-up share capital ("Proposed ESOS"). Subsequently, the Securities Commission had vide its letter dated 12 September 2001 approved the Proposed ESOS. Under the Proposed ESOS, eligible employees (including Executive Directors) of the Company and its subsidiary companies, but exclude Box-Pak (Malaysia) Berhad will be offered the options to subscribe for new ordinary shares of RM0.50 each in the Company. All shares issued pursuant to the exercise of option shall rank pari passu in all aspects with all existing issued shares. The shareholders have approved the Proposed ESOS at an Extraord i n a ry General Meeting held on 31 January 2002. 27. SIGNIFICANT EVENT SUBSEQUENT TO BALANCE SHEET DATE On 1 February 2002, the Company announced the establishment of a wholly-owned subsidiary company, Kian Joo Can (Vietnam) Co. Ltd. ("KJCV") in Vietnam. The Ministry of Planning and Investment in Vietnam has issued a license to KJCV to manufacture metal packaging products for food and beverages industries. 54 . Annual Report / 2001 KIAN JOO CAN FACTORY BERHAD (3186-P)
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(Incorporated In Malaysia) (3186-P)
Page 3 and 4: NOTICE OF Annual General Meeting NO
Page 5 and 6: CORPORATE Information DIRECTORS Y.A
Page 7 and 8: FIVE YEAR Financial Highlights 2001
Page 9 and 10: PROFILE OF Directors YAM TUNKU NAQU
Page 11 and 12: PROFILE OF Directors (Cont’d) SEE
Page 13 and 14: Corporate Governance Statement (Con
Page 15 and 16: Corporate Governance Statement (Con
Page 17 and 18: AUDIT COMMITTEE Report MEMBERSHIPS
Page 19 and 20: AUDIT COMMITTEE Report (Cont’d) S
Page 21 and 22: CHAIRMAN’S Statement (Cont’d) G
Page 23 and 24: D I R E C T O R S ’ R e p o r t T
Page 25 and 26: D I R E C T O R S ’ R e p o r t (
Page 27 and 28: D I R E C T O R S ’ R e p o rt (
Page 29 and 30: STATEMENT BY DIRECTORS Pursuant to
Page 31 and 32: BALANCE SHEETS as at 31 December 20
Page 33 and 34: CONSOLIDATED STATEMENT OF CHANGES I
Page 35 and 36: C O N S O L I D ATED CASH FLOW STAT
Page 37 and 38: CASH FLOW STAT E M E N T for the ye
Page 39 and 40: NOTES TO THE FINANCIAL STAT E M E N
Page 53: NOTES TO THE FINANCIAL STAT E M E N
Page 59 and 60: LIST OF PROPERT I E S as at 31 Dece
Page 61 and 62: A N A LYSIS OF SHAREHOLDINGS as at
Page 63 and 64: D A I N R A E C LYSIS T O R S OF
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2001 Annual Report - Kian Joo Can

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