Annual Report - Bina Puri

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Notes to and Forming Part of the Financial Statements (Cont’d)40. CONTINGENT LIABILITIES (Cont’d)(b)Material litigations(i)(ii)A writ action was filed against the Company in the Shah Alam High Court by Kimpoint Sdn Bhd (“Kimpoint”)for a sum of RM8,773,437 purportedly owed under a contract.The Company has in turn filed a counter claimagainst Kimpoint for the return of a sum of RM1,226,562. Kimpoint applied to amend their Statement ofClaim to which the Company objected. On 18 December 2006, the court dismissed with costs Kimpoint’sapplication to amend the Statement of Claim and on 20 December 2006, Kimpoint filed notice of appeal.Court fixed 30 April 2008 for show cause of the case.At this juncture, the Company’s directors have beenadvised that there is an even chance of defending the matter.On 27 October 2000, an originating summons was filed in the Kuala Lumpur High Court by a subsidiary,namely, Bina Puri Sdn Bhd (“BPSB”) against EP Engineering Sdn Bhd (“EP”) and Kris Heavy Engineering &Construction Sdn Bhd (“Kris Heavy”) seeking an injunction/declaration that BPSB is not a party to arbitrationproceedings commenced by EP against BPSB and Kris Heavy.On 28 February 2005, the arbitration proceedings were proceeded upon by EP for the sum of RM17,002,760,general damages, interest and cost against BPSB and Kris Heavy and the continued proceedings werescheduled from 12 November to 23 November 2007 and 10 December to 14 December 2007. On the appealfor a declaration that BPSB is not a party to the arbitration, the Court of Appeal has directed that BPSB is tofile the submission on or before 5 November 2007 for which BPSB had put in the necessary submission andhearing was fixed on 4 December 2007. On 4 December 2007, the Court of Appeal disallowed theApplication to Adduce Further Evidence. BPSB’s appeal on the issue of jurisdiction has also been dismissed.To this, BPSB filed the Leave of Appeal to the Federal Court against the Court of Appeal’s decision. Hearinghas been fixed on 23 June 2008.The directors have been advised that BPSB has an even chance of success.(iii) Selesa Timur Sdn Bhd (“Selesa”) brought an action against Bina Puri Construction Sdn Bhd (“BPCSB”) for thesum of RM351,147 for non payment of contract claims. BPCSB has in turn filed a counter claim of RM94,569against Selesa and had served further and better particulars to Selesa.Trial was conducted on 12 November 2007 and the closing submission was filed on 19 November 2007. On22 November 2007, the Judge delivered his judgment in favour of the Plaintiff for the sum of RM160,559.86with interest at 8% p.a. from 13 September 2001.We paid to the plaintiff solicitor the judgement sum totallingRM240,000.100 BINA PURI HOLDINGS BHDAnnual Report 2007
Notes to and Forming Part of the Financial Statements (Cont’d)41. SEGMENTAL ANALYSIS(a) Primary reporting format - business segmentThe Group’s operations comprise the following business segments:Construction - contractor of earthworks, building and road constructionProperty development - property developerPolyol manufacturing - manufacturer of polyolQuarry and ready mix concrete - quarry operator and producer of ready mix concreteTransactions between segments were entered into in the normal course of business and were established on terms and conditions that are not materiallydifferent from that obtainable in transactions with unrelated parties.The effects of such inter-segment transactions are eliminated.Quarry and2007 Property Polyol ready mixConstruction development manufacturing concrete Others Elimination ConsolidatedRM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000REVENUEExternal sales 456,362 35,625 23,322 92,560 – – 607,869Inter-segment sales 427 – – 15,249 – (15,676) –Total revenue 456,789 35,625 23,322 107,809 – (15,676) 607,869RESULTSSegment operating profit 2,617 2,646 1,099 3,375 87 125 9,949Finance costs (4,574) – (138) (350) – – (5,062)Investment income 846 – – (30) – (150) 666Share of results of- associates 1,788 – – 330 – – 2,118- jointly controlled entity 857 – – – – – 857Profit before tax 1,534 2,646 961 3,325 87 (25) 8,528Tax income/(expense) 681 (3) (347) (854) (29) – (552)Profit after tax 2,215 2,643 614 2,471 58 (25) 7,976Minority interests (4) 13 (61) (916) 12 – (956)Net profit for the year 2,211 2,656 553 1,555 70 (25) 7,020BINA PURI HOLDINGS BHD101Annual Report 2007
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MISSION• To be a world class orga
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Notice of Annual General MeetingNOT
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Corporate InformationBOARD OF DIREC
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Profile of Directors (Cont’d)Henr
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Executive Chairman’sStatementDato
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Group Financial Highlights2007 2006
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Calendar of Events 2007-2008 (Cont
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Audit Committee ReportMember of the
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Internal Control StatementThe Malay
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Directors’ ReportFor the year end
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Directors’ Report (Cont’d)DIREC
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Directors’ Report (Cont’d)OTHER
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Balance Sheets31 December 2007Group
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Income StatementsFor the year ended
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Statement of Changes in EquityFor t
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Notes to and Forming Part of the Fi
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Annual Report - Bina Puri

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