Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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Sales of cellular phones, in particular the sales of mobile handphones with digital cameras, are expected to lead the growth in the electronic equipment industry and this growth is underpinned by an expected stronger demand for telecommunications services in tandem with improved global economic performance. TIMBER INDUSTRY The forestry and logging sector was expected to record a moderate growth of about 2.2% in 2003. Export volumes of saw logs and sawn timbers increased by 17% and 0.4% during the 1st half of 2003 due to higher demand from India and China as these countries faced shortages. Overall export values of saw logs and sawn timbers were expected to increase by 4% and 0.5% respectively in 2003 to account for about 8% of total commodity exports of Malaysia. However, the export volumes of saw logs and sawn timbers are expected to be on the decline in the future due to government controlled logging in line with Malaysia’s policy of sustainable forestry management. FINANCIAL RESULTS For the financial year ended 30 November, 2003, the Group recorded a Profit before Taxation of RM0.250 million as compared with RM2.977 million in the previous year. As at 30 November, 2003, the Group’s Shareholders’ Fund amounted to RM38.987 million with an increase of RM49,000 from RM38.938 million in 2002. REVIEW OF PERFORMANCE The Group recorded a Profit before Taxation of RM0.250 million despite a lower Group turnover. The decrease in revenue from the trading and services sector was mitigated by the increase in revenue and profit margins from the manufacturing and services sector as well as a positive share of profits from associated companies. (a) Trading and Distribution Trading and Distribution sales of the Group decreased in 2003 and this Division incurred an operating loss of RM0.387 million, due mainly to reduced trading revenue and profit margins on prepaid and reload cards of a subsidiary company amidst severe competitive market conditions. Notwithstanding this, the turnover of the Trading and Distribution Division contributed in excess of 50% of the Group’s turnover for the financial year under review. (b) Manufacturing and Services The Group’s efforts to rationalise its Manufacturing and Services activities since 2002 have finally paid off with improvements seen during 2003 as the Manufacturing and Services Division contributed more than 35% of the Group’s turnover and achieved operating profit of RM0.804 million which was significantly higher than the RM63,000 recorded in 2002. Amtel Holdings Berhad 2003 annual report 17
18 Amtel Holdings Berhad 2003 annual report The Division’s share of associated companies’ results however, decreased by RM0.946 million in 2003. The associated companies recorded lower revenue in the 1st half of 2003 as operations were adversely affected by logistics and shipping problems faced during the outbreak of SARS in Singapore, Hong Kong, China and Taiwan. The situation improved in the 2nd half of 2003. DIVIDEND The Board is not recommending any dividend for the financial year ended 30 November, 2003. PROSPECTS Going forward, the Group will continue to concentrate and improve its business activities in the Trading and Manufacturing Divisions through cost control measures and productive management. With the commitment and hard work of the management and staff, the Group will also seek to improve the level of operating profit and to explore other business opportunities to bring positive and long term benefits to the Group. With the strengthening of the Malaysian economy and the anticipated world economic growth in 2004, the Board expects that the Group’s performance to be satisfactory in the coming year. APPRECIATION On behalf of the Board, I would like to express my utmost appreciation and gratitude to our dedicated and supportive management and employees of the Group. The Board also wishes to record its appreciation to our shareholders, valued customers, suppliers, bankers and business associates for their continued support and cooperation. DATO’ABDUL HAMID BIN HJ. MD. ZAINUDDIN Executive Chairman Date: 22 April, 2004
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 17: 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 69 and 70:
68 NOTES TO THE FINANCIAL STATEMENT
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
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Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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