Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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128 Notes to the Financial Statements For the fi nancial year ended 31 December 2011 19. Investments in subsidiaries (contd.) (d) Disposals of subsidiaries The Group disposed of its 71%, 51% and 100% equity interests in Kenanga Investors Berhad (formerly known as CMS Trust Management Berhad), Citadelle Capital Sdn. Bhd. (formerly known as CMS Asset Management Sdn. Bhd.) and I-Systems Network Sdn. Bhd. on 9 April 2010, 2 September 2010 and 20 December 2010 for a consideration of RM12,691,876, RM1 and RM2, respectively. The disposals had the following effects on the fi nancial position of the Group as at the end of 2010: Cahya Mata Sarawak Berhad Up to disposal date RM’000 Total assets 15,448 Total liabilities (1,510 ) Identifi able net assets 13,938 Less: Non-controlling interests (3,807 ) 10,131 Total disposal proceeds (12,692 ) Gain on disposal of subsidiaries (Note 6) 2,561 Disposal proceeds settled by: Cash 12,692 Cash infl ow arising on disposal: Cash consideration 12,692 Cash and cash equivalents of subsidiaries disposed (11,947 ) Net cash infl ow from disposal of subsidiaries 745 20. Investments in associates Group Company 2011 2010 2011 2010 RM’000 RM’000 RM’000 RM’000 Quoted shares in Malaysia, at cost 314,472 314,472 32,302 32,302 Less: Accumulated impairment losses (67,000 ) (67,000 ) - - 247,472 247,472 32,302 32,302 Redeemable preference shares, at cost 16,861 17,474 - - Less: Accumulated impairment losses (722 ) - - - 16,139 17,474 - - Unquoted shares, at cost 9,315 115 - - 272,926 265,061 32,302 32,302 Share of post-acquisition reserves 18,914 13,091 - - 291,840 278,152 32,302 32,302 Fair value of investments in associates for which there is published price quotation 186,002 207,073 87,856 98,192
20. Investments in associates (contd.) Details of the associates are as follows: Notes to the Financial Statements For the fi nancial year ended 31 December 2011 P roportion of Country of ownership interest Name of associates incorporation Principal activities 2011 2010 % % Held by the Company: KKB Engineering Berhad Malaysia Steel fabrication, civil 20.0 20.0 construction, hot dip galvanising and the manufacture of LPG cylinders Held through subsidiaries: CMS Faradale Malaysia Property development 49.0 49.0 Development Sdn. Bhd. (i) COPE-KPF Opportunities Malaysia Investment holding 49.9 49.9 1 Sdn. Bhd. K&N Kenanga Holdings Malaysia Investment holding, 25.1 25.1 Berhad stockbroking and fi nancial services business OM Materials (Sarawak) Malaysia Processing, smelting 20.0 - Sdn. Bhd. (ii) and trading of ferro alloy products (i) Placed under voluntary liquidation subsequent to year end. (ii) Has not commenced business operations. The summarised fi nancial information of the associates, not adjusted for the proportion of ownership interest held by the Group, is as follows: Group 2011 2010 RM’000 RM’000 Assets and liabilities: Total assets 4,026,849 3,897,120 Total liabilities (2,909,526 ) (2,835,137 ) Results: Revenue 475,606 556,590 Profi t for the year 55,907 32,593 Annual Report 2011 129
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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
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Composition The Group Audit Committ
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Authority i. The Committee is autho
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Utilisation of Proceeds raised from
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FINANCIALS
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The directors have pleasure in pres
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Issue of Shares During the fi nanci
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Statement by Directors Pursuant to
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Independent Auditors’ Report To t
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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 and 112: 10. Directors’ remuneration (cont
Page 113 and 114: 12. Earnings per share (a) Basic ea
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: 19. Investments in subsidiaries (co
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
Page 165 and 166: 45. Segment information Notes to th
Page 169 and 170: 46. Dividends Notes to the Financia
Page 171 and 172: OTHER INFORMATION
Page 173 and 174: Name of Direct Indirect % of Substa
Page 175 and 176: List of Properties As at 31 Decembe
Page 177 and 178: ** Land owned by third party Revalu
Page 179 and 180: 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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