Annual Report - Bina Puri

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Notes to and Forming Part of the Financial Statements (Cont’d)36. ANALYSIS OF ACQUISITION OF SUBSIDIARIESDuring the financial year, the Company acquired the following subsidiaries:(a) Bina Puri Pakistan (Private) LtdThe Company subscribed 9,997 ordinary shares of PKR10 each, representing 99.97% of the initial issued and paidupshare capital of Bina Puri Pakistan (Private) Ltd, a company incorporated in Pakistan, at a cash consideration ofPKR99,997 (RM5,554). Bina Puri Pakistan (Private) Ltd was incorporated on 2 August 2007 and its principal activityis contractor of earthworks, building and road construction.(b) Bina Puri (B) Sdn Bhd (formerly known as Dynacorp Sdn Bhd)On 1 June 2007, the Company and a wholly owned indirect-subsidiary, Bina Puri Construction Sdn Bhd acquired100% equity interest, representing 2 ordinary shares of BND1 each in Bina Puri (B) Sdn Bhd (formerly known asDynacorp Sdn Bhd), a company incorporated in Negara Brunei Darussalam, at a cash consideration of BND2(RM5). The principal activity of the newly acquired subsidiary is contractor of earthworks, building and roadconstruction.The acquisition was accounted for using the acquisition method of accounting.There is no goodwill or negativegoodwill arising from the said acquisition.In the previous financial year, the Company acquired 60% equity interest, representing 60 ordinary shares of RM1 eachin Bina Puri Gah Sdn Bhd, a company incorporated in Malaysia at a cash consideration of RM60.The effects of acquisition of the subsidiaries on the consolidated net profit, the consolidated financial position andconsolidated cash flow statement are as follows:(i)Effect on consolidated net profit for the yearSubsidiariesacquired in2007 2006RM’000 RM’000Gross revenue 7,496 –Cost of sales 7,264 –Profit/(Loss) before tax 89 (16)Tax expense 27 –Increase/(Decrease in) Group’s net profit 62 (16)94 BINA PURI HOLDINGS BHDAnnual Report 2007
Notes to and Forming Part of the Financial Statements (Cont’d)36. ANALYSIS OF ACQUISITION OF SUBSIDIARIES (Cont’d)(ii)Effect on consolidated financial positionSubsidiariesacquired in2007 2006RM’000 RM’000Non-current assets 265 –Current assets 5,383 –Non-current liabilities (105) –Current liabilities (5,360) (16)Increase/(Decrease) in Group’s share of net assets 183 (16)(iii) Effect on consolidated cash flow statementFair value of net assets acquiredSubsidiariesacquired in2007 2006RM’000 RM’000Current assets 6 –Current liabilities – –Total purchase consideration 6 –Less:Cash and cash equivalents – –Net cash flows on acquisition 6 –BINA PURI HOLDINGS BHDAnnual Report 200795
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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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Executive Chairman’s Statement (C
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Review of Operations (Cont’d)OVER
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Review of Operations (Cont’d)ONGO
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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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Audit Committee Report (Cont’d)RE
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Corporate Governance Statement (Con
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Corporate Governance Statement (Con
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Internal Control StatementThe Malay
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Responsibility Statement by the Boa
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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
Page 46 and 47: Statement of Changes in EquityFor t
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Page 110 and 111: Thirty Largest ShareholdersAs at 31
Page 112 and 113: List of Properties 31 December 2007
Page 114 and 115: Group Corporate DirectoryBINA PURI
Page 116: Fold hereFold hereSTAMPBINA PURI HO
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Annual Report - Bina Puri

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