Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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110 Notes to the Financial Statements For the fi nancial year ended 31 December 2011 11. Income tax expense (contd.) The reconciliation between tax expense and the product of accounting profi t multiplied by the applicable corporate tax rate for the years ended 31 December 2011 and 2010 are as follows: Cahya Mata Sarawak Berhad Group 2011 2010 RM’000 RM’000 Accounting profi t before tax 178,715 118,796 Taxation at Malaysian statutory tax rate of 25% (2010: 25%) 44,679 29,699 Adjustments: Share of results of associates (3,062 ) (1,558 ) Share of results of jointly controlled entities (312 ) 445 Group tax relief transferred from a subsidiary (405 ) (396 ) Non-deductible expenses 17,142 8,430 Income not subject to tax (7,975 ) (1,677 ) Benefi ts from previously unrecognised tax losses and unabsorbed capital allowances (1,967 ) (933 ) Benefi ts from utilisation of reinvestment allowances (8,082 ) - Deferred tax assets not recognised 1,207 3,562 Over provision of income tax in respect of previous years (12,123 ) (8,860 ) Under provision of deferred tax in respect of previous years 5,131 384 Income tax expense recognised in profi t or loss 34,233 29,096 Company 2011 2010 RM’000 RM’000 Accounting profi t before tax 143,593 19,060 Taxation at Malaysian statutory tax rate of 25% (2010: 25%) 35,898 4,765 Adjustments: Group tax relief transferred from a subsidiary (405 ) (396 ) Non-deductible expenses 12,756 13,475 Income not subject to tax (47,880 ) (7,468 ) Over provision of income tax in respect of previous years (604 ) (6,673 ) Over provision of deferred tax in respect of previous years (25 ) (119 ) Income tax expense recognised in profi t or loss (260 ) 3,584 Income tax is calculated at the Malaysian statutory tax rate of 25% (2010: 25%) of the estimated assessable profi t for the year. Tax savings during the fi nancial year arising from: Group 2011 2010 RM’000 RM’000 Utilisation of current tax losses - 30 Utilisation of previously unrecognised tax losses 1,932 898 Utilisation of previously unrecognised capital allowances 16 -
12. Earnings per share (a) Basic earnings per share Notes to the Financial Statements For the fi nancial year ended 31 December 2011 Basic earnings per share amounts are calculated by dividing profi t for the year, net of tax, attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the fi nancial year. Group 2011 2010 Profi t net of tax attributable to owners of the Company (RM’000) 120,021 65,781 Weighted average number of ordinary shares in issue (‘000) 329,469 329,446 Basic earnings per share (sen) 36.43 19.97 (b) Diluted earnings per share There was no dilution in the earnings per share for the previous fi nancial year ended 31 December 2010 as the vesting condition on performance relating to the options had not been met and hence there was no dilutive potential ordinary shares outstanding at the end of the previous reporting period. For the current fi nancial year ended 31 December 2011, the diluted earnings per share is the same as basic earnings per share as the effect of dilutive potential ordinary shares is anti-dilutive. Annual Report 2011 111
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Playing Our Role In Nation-building
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CONTENTS 2 3 4 8 13 14 15 20 Perfor
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Revenue (RM’000) Profi t before t
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“ Dear Shareholders, Group Chairm
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Whilst the opportunities for the Gr
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10 Mar 4 May 19 May 26 May 27 Jun 2
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24 Feb 1 Jul 19 Oct 30 Nov 24 Feb 1
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Board of Directors Tan Sri Dato’
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Y Bhg Dato’ Richard Alexander Joh
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Y Bhg Datu Michael Ting Kuok Ngie M
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DAVID LING KOAH WI Group General Co
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Segmental Analysis Segment Revenue
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Clinker CMS Cement owns East Malays
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Quarrying CMS Quarries Sdn Bhd and
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Construction & Road Maintenance The
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The Isthmus Property Development Th
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Education CMS Education Sdn Bhd own
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Strategic Investment: K&N Kenanga H
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CORPORATE RESPONSIBILITY
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Engagement & Communication Performa
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CMS Concrete Products Clay bricks m
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CMS Employees Volunteer in ‘Doing
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CSR Highlights Saving Lives Health
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Statement of Corporate Governance T
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Employees’ Share Option Scheme (
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Prior to each Board meeting, the Di
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Statement of Corporate Governance T
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Communicating with Shareholders and
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Responsibility The Board recognises
Page 61 and 62: Composition The Group Audit Committ
Page 63 and 64: Authority i. The Committee is autho
Page 65 and 66: Utilisation of Proceeds raised from
Page 67 and 68: FINANCIALS
Page 69 and 70: The directors have pleasure in pres
Page 71 and 72: Issue of Shares During the fi nanci
Page 73 and 74: Statement by Directors Pursuant to
Page 75 and 76: Independent Auditors’ Report To t
Page 77 and 78: ASSETS Group Company Note 2011 2010
Page 79 and 80: Statements of Changes In Equity For
Page 81 and 82: Statements of Cash Flows For the fi
Page 83 and 84: Statements of Cash Flows For the fi
Page 85 and 86: Notes to the Financial Statements F
Page 107 and 108: 5. Interest income Notes to the Fin
Page 109 and 110: 8. Profi t before tax Notes to the
Page 111: 10. Directors’ remuneration (cont
Page 115 and 116: 13. Property, plant and equipment (
Page 119 and 120: 14. Prepaid land lease payments Cos
Page 123 and 124: 18. Goodwill Notes to the Financial
Page 129 and 130: 19. Investments in subsidiaries (co
Page 131 and 132: 20. Investments in associates (cont
Page 135 and 136: 22. Deferred tax (contd.) Notes to
Page 137 and 138: 24. Trade and other receivables (co
Page 139 and 140: 25. Other current assets Notes to t
Page 141 and 142: 28. Cash and bank balances (contd.)
Page 143 and 144: 30. CMS Income Securities (contd.)
Page 145 and 146: 30. CMS Income Securities (contd.)
Page 147 and 148: 32. Trade and other payables Notes
Page 151 and 152: 36. Other reserves (contd.) Company
Page 153 and 154: 38. Employee benefi ts (contd.) Not
Page 155 and 156: 39. Commitments (contd.) Notes to t
Page 157 and 158: 40. Contingencies (contd.) (b) Othe
Page 159 and 160: 41. Related party transactions (con
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Notes to the Financial Statements F
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45. Segment information Notes to th
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Notes to the Financial Statements F
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46. Dividends Notes to the Financia
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OTHER INFORMATION
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Name of Direct Indirect % of Substa
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List of Properties As at 31 Decembe
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** Land owned by third party Revalu
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Construction & Road Maintenance CMS
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1. To receive the Audited Financial
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Names of Directors who are standing
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Form of Proxy No. of Shares Held: C
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CAHYA MATA SARAWAK BERHAD (Company
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Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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