Annual Report Laporan Tahunan - Baiduri Bank

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Report of the Directors Directors The directors in office during the financial year and at the date of this report are: YTM Pengiran Anak Isteri Pengiran Anak Hajah Zariah YAM Pengiran Muda Abdul Qawi YB Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng (appointed on November 13, 2008) YM Dato Paduka Timothy Ong Teck Mong Claude De Kemoularia Francis Caze Haji Amir Hamzah Haji Hanafi Bertie Cheng Shao Shiong (appointed on August 22, 2008) Pengiran Dato Paduka Haji Abu Bakar bin Pengiran Seri Indera Pengiran Haji Ismail (resigned on November 13, 2008) Victor Chua Beng Khoon (resigned on July 8, 2008) Auditors The auditors, Deloitte & Touche, have indicated their willingness to accept re-appointment. On behalf of the board ________________________________________ Director ________________________________________ Director ________________________________________ Director Brunei Darussalam Date: 5th March 2009 Baiduri Bank Annual Report 2008 23
Independent Auditors’ Report to the members of Baiduri Bank Berhad and subsidiaries We have audited the accompanying financial statements of Baiduri Bank Berhad (the Company) and its subsidiaries (the Group) which comprise the balance sheets of the Company and the Group as at December 31, 2008, the profit and loss statements, statements of changes in equity and cash flows statements of the Company and the Group for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on page 65 to 78. Directors’ Responsibility The Company’s directors are responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the Brunei Darussalam Companies Act, Cap. 39 (the “Act”), the Brunei Darussalam Banking Order 2006 (the “Order”), and generally accepted accounting principles in Brunei Darussalam. 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 International Standards on Auditing. 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 the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’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 entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by 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, a) the financial statements of the Company and consolidated financial statements of the Group are properly drawn up in accordance with the provisions of the Act, the Order and generally accepted accounting principles in Brunei Darussalam so as to give a true and fair view of the state of affairs of the Company and the Group as at December 31, 2008 and of the results, changes in equity and cash flows of the Company and the Group for the year ended on that date; b) the accounting and other records required by the Act to be kept by the Company and its subsidiaries have been properly kept in accordance with the provisions of the Act; and c) we have obtained all the information and explanations that we required. _____________________________________ DELOITTE & TOUCHE Certified Public Accountants _____________________________________ NG HUI HUA Brunei Darussalam Authorised Auditor Brunei Darussalam Date: 5 th March 2009 24 Baiduri Bank Annual Report 2008
Page 1 and 2: Annual Report Laporan Tahunan
Page 4 and 5: Vision & Mission Statement VISION T
Page 6 and 7: Chairperson’s Statement and large
Page 8 and 9: Corporate Information MANAGEMENT CO
Page 10 and 11: 2008 Key Financial Figures OPERATIN
Page 12 and 13: 2008 Corporate Highlights Baiduri B
Page 14 and 15: Business Highlights Established in
Page 16 and 17: Operations Management The role of t
Page 18 and 19: Corporate Social Responsibility Bai
Page 20 and 21: Corporate Social Responsibility Pro
Page 22 and 23: Financial Statements For the year e
Page 26 and 27: Balance Sheets December 31, 2008 Th
Page 28 and 29: Statements of Changes in Equity Yea
Page 30 and 31: Notes to Financial Statements Decem
Page 44 and 45: Offices, Branches and ATM Network B
Page 46: Head Office: Block A, Units 1-4, Ki

Annual Report Laporan Tahunan - Baiduri Bank

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