Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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(3) ACCOUNTABILITY AND AUDIT (a) Financial Reporting The Board assisted by the Audit Committee, ensures that the accounts and the other financial reports of the Group and of the Company are prepared in accordance with approved accounting standards and aims to present a balanced and understandable assessment of the Group’s financial position and prospects in all its financial reports. (b) Internal Controls The Board acknowledges the overall responsibility to maintain a sound system of internal controls to safeguard the Group’s assets and consequently, the shareholders’ investment in the Company. However, such systems can only provide reasonable and not absolute assurance against material misstatements or losses. The Audit Committee was formed in 1 August, 1997 whilst the Internal Audit Department was established in September 2002, which reports directly to the Audit Committee and assists the Board to undertake regular and systematic reviews of the systems of internal controls. The scope of Internal Audit covers the audit of all units and operations, including the review of adequacy of operational controls, compliance with law and regulations and the management of assets. (c) External Auditors The appointments of the external auditors are recommended by the Audit Committee, which determines the remuneration of the external auditors. Through the Audit Committee, the Group has established a transparent and appropriate relationship with the Group’s external auditors. An Audit Committee Report and the terms of reference are set out on pages 19 to 21. (4) DIRECTOR’S RESPONSIBILITY STATEMENT The Directors are required by the Companies Act, 1965 to prepare financial statements for each financial year which have been made out in accordance with the applicable approved accounting standards and give a true and fair view of the state of affairs of the Group and Company at the end of the financial year and of the results and cash flows of the Group and Company for the financial year. In preparing the financial statements, the Directors have adopted appropriate accounting policies that are consistently applied and supported by a reasonable as well as prudent judgements and estimates, and that all accounting standards which they consider applicable have been followed during the preparation of the financial statements. The Directors have responsibility for ensuring that the Company keeps proper accounting records which disclose with reasonable accuracy the financial position of the Group and Company and which enable them to ensure that the financial statements comply with the Companies Act, 1965. The Directors are also responsible for the assets of the Group and of the Company and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. Amtel Holdings Berhad 2003 annual report 13
14 Amtel Holdings Berhad 2003 annual report (5) MATERIAL CONTRACTS INVOLVING DIRECTORS’AND SUBSTANTIAL SHAREHOLDERS’ INTERESTS Since the end of the previous financial year, the Company and its subsidiaries have not entered into any material contract involving Directors and substantial shareholders. (6) OTHER INFORMATION (a) Share Buybacks During the financial year, there were no share buybacks by the Company. (b) Issue of Shares During the financial year, no new issue of share was made by the Company. (c) Option, Warrants or Convertibles Securities The Company did not issue any option, warrants or convertible securities during the financial year. (d) American Depository Receipts ("ADR") or Global Depository Receipts ("GBR") During the financial year, the Company did not sponsor any ADR or GDR programme. (e) Imposition of Sanctions/Penalties There were no sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or management by the relevant regulatory bodies. (f) Non-Audit Fee The non-audit fees paid to external auditors, Moore Stephens during the financial year amounted to RM6,300/-. (g) Variation in Results There is no material variance between the results for the financial year and the unaudited results previously announced. The Company did not make any release on the profit estimate, forecast or projections for the financial year. (h) Profit Guarantee No profit guarantee was given by the Company in respect of the financial year.
Page 1 and 2: 2003 Annual Report Amtel Holdings B
Page 3 and 4: 2 Notice of the Seventh Annual Gene
Page 5 and 6: 4 Statement Accompanying Notice of
Page 7 and 8: 6 Profile of Directors Amtel Holdin
Page 9 and 10: 8 Amtel Holdings Berhad 2003 annual
Page 11 and 12: 10 Amtel Holdings Berhad 2003 annua
Page 13: 12 Amtel Holdings Berhad 2003 annua
Page 17 and 18: 16 Chairman’s Statement It gives
Page 23 and 24: 22 Statement of Internal Control Am
Page 27 and 28: 26 DIRECTORS’ REPORT The Director
Page 29 and 30: 28 DIRECTORS OF THE COMPANY (CONT
Page 31 and 32: 30 REPORT OF THE AUDITORS to the me
Page 33 and 34: 32 BALANCE SHEETS (Cont’d) GROUP
Page 35 and 36: 34 STATEMENTS OF CHANGES IN EQUITY
Page 37 and 38: 36 CASH FLOW STATEMENTS (Cont’d)
Page 39 and 40: 38 NOTES TO THE FINANCIAL STATEMENT
Page 65 and 66:
64 NOTES TO THE FINANCIAL STATEMENT
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
74 LIST OF PROPERTIES (Cont’d) Ap
Page 77 and 78:
76 LIST OF PROPERTIES (Cont’d) Ap
Page 79 and 80:
78 ANALYSIS OF SHAREHOLDINGS as at
Page 81 and 82:
80 ANALYSIS OF SHAREHOLDINGS (Cont
Page 83 and 84:
Then fold here First fold here Amte
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