2003 - KNM Steel Sdn Bhd

KNM GROUP BERHAD (521348-H)DIRECTORS’ REPORTThe Directors have pleasure in submitting their report and the audited financial statements of the Group and of theCompany for the year ended 31 December 2003.PRINCIPAL ACTIVITIESThe Company is principally engaged in investment holding, whilst the principal activities of the subsidiaries are asstated in Note 26 to the financial statements.RESULTSGroupRM’000CompanyRM’000Net profit for the year 25,575 2,791The Group’s net profit for the year represents the results of the Group following the completion of the acquisition ofsubsidiaries on 2 May 2003.RESERVES AND PROVISIONSThere were no material transfers to or from reserves and provisions during the year.DIVIDENDNo dividend was paid during the year.The Directors recommend a final dividend of 5% tax exempt totaling RM2,200,000 in respect of the year ended 31December 2003.DIRECTORS OF THE COMPANYDirectors who served since the date of the last report are:Dato’ Abdul Rani bin Mohd. Razalli (appointed on 14.6.2003)Lee Swee Eng (appointed on 14.6.2003)Lee Hui Leong (appointed on 14.6.2003)Sofiyan bin Yahya (appointed on 14.6.2003)Gan Siew Liat (appointed on 14.6.2003)Chew Fook Sin (appointed on 14.6.2003)Dato’ Ab. Halim bin Mohyiddin (appointed on 14.6.2003)Lim Yu Tey (appointed on 14.6.2003)Mohamed Tajudin bin Mohamed Alias (appointed on 14.6.2003)Chen Fui Chin (resigned on 14.6.2003)Pang Siew Yin (resigned on 14.6.2003)2003 ANNUAL REPORT25