continued - The Lion Group

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39. RELATED PARTY TRANSACTIONS Related parties refer to entities in which certain Directors and/or substantial shareholders of the Company or of its subsidiaries or persons connected to such Directors and/or substantial shareholders have interests. (a) Significant transactions undertaken with related parties excluding those parties disclosed as related companies in the financial statements are as follows: Group 2010 2009 Name of Company Type of Transaction RM’000 RM’000 (i) With ACB Resources Berhad (“ACB”) Group Lion Tooling Sdn Bhd Trade purchases 4,251 7,064 Secom (Malaysia) Sdn Bhd Trade purchases 72 430 (ii) With Lion Industries Corporation Berhad (“LICB”) Group Amsteel Mills Sdn Bhd Trade sales 837,457 993,780 Trade purchases 817,771 485,131 Rental income 4,544 5,310 Antara Steel Mills Sdn Bhd Trade sales 4,039 20,851 Trade purchases 362,640 136,115 Amsteel Mills Marketing Trade purchases 9,978 3,656 Sdn Bhd Rental expenses 1,348 1,303 Lion Waterway Logistics Trade sales – 3,048 Sdn Bhd Logistic services 23,184 17,640 (iii) With Lion Asiapac Limited (“LAP”) Group Compact Energy Sdn Bhd Trade purchases 14,989 15,306 Rental income 131 120 LAP Trading & Marketing Trade purchases 15,581 8,769 Pte Ltd (iv) With Other Related Parties Lion Motor Sdn Bhd Trade sales 456 560 Trade purchases 363 271 PT Lion Metal Works Tbk Trade sales 3,336 513 Posim Petroleum Marketing Trade purchases 3,254 4,003 Sdn Bhd Mitsui & Co., Ltd Trade purchases 34,983 26,861 Lion DRI Sdn Bhd Trade sales 44,799 8,544 Trade purchases 1,077,463 783,706 Rental income 1,818 2,511 Posim Marketing Sdn Bhd Trade sales 14,782 – Trade purchases 1,146 – Lion Blast Furnace Sdn Bhd Trade sales 11 3,717 Transfer of property, plant and equipment 369 15,620 Singa Logistics Sdn Bhd Logistic services 13,135 9,309 Lion Metal Industries Sdn Bhd Rental expenses 443 646 Lion Holdings Pte Ltd Product financing facilities 670,878 704,453 Interest expense on product financing 12,199 25,819 Graimpi Sdn Bhd Product financing facilities 119,135 413,625 Interest expense on product financing 15,780 20,796 Ributasi Holdings Sdn Bhd Product financing facilities 43,798 116,669 Interest expense on product financing 965 4,928 110
39. RELATED PARTY TRANSACTIONS (continued) ACB, LICB and LAP are associates of the Company wherein certain Directors and substantial shareholders of the Company have interests. PT Lion Metal Works Tbk, Lion Metal Industries Sdn Bhd, Lion Holdings Pte Ltd and Ributasi Holdings Sdn Bhd are companies in which certain Directors who are also substantial shareholders of the Company have interests. Mitsui & Co., Ltd is a substantial shareholder of a subsidiary of the Company. Lion Motor Sdn Bhd, Posim Petroleum Marketing Sdn Bhd, Posim Marketing Sdn Bhd and Singa Logistics Sdn Bhd are subsidiaries of Lion Forest Industries Berhad, a company in which certain Directors and substantial shareholders of the Company have interests. Lion DRI Sdn Bhd, Lion Blast Furnace Sdn Bhd and Graimpi Sdn Bhd are subsidiaries of Lion Diversified Holdings Berhad, a substantial shareholder of the Company wherein certain Directors and substantial shareholders of the Company have interests. The Directors of the Company are of the opinion that the above transactions have been entered into in the normal course of business and have been established under terms that are no more favourable to the related parties than those arranged with independent third parties. (b) Share options over ordinary shares in the Company granted to an executive Director of the Company are as follows: 111 Number of Unexercised Options 2010 2009 Tan Sri William H.J. Cheng 490,000 490,000 The options were granted to the executive Director on the same terms and conditions as those offered to other eligible executive employees of the Group (Note 36(b)). 40. SEGMENTAL ANALYSIS (a) Primary Reporting Format - Business Segments: The Group is organised into four major business segments: (i) Steel - manufacturing of hot rolled coils, cold rolled coils, bands, plates and sheets (ii) Property - property development (iii) Furniture - manufacture, distribution and trading of office equipment, security equipment and steel related products (iv) Others - investment holding, treasury business, sale of commercial vehicles, construction and civil engineering works, share registration and secretarial services The Directors are of the opinion that all inter-segment transactions were carried out on terms and conditions not materially different from those obtainable in transactions with independent third parties.
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CONTENTS Page Notice of Meeting 1 C
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6.1.2 Proposed Shareholders’ Mand
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CORPORATE INFORMATION Board of Dire
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Tan Sri Cheng Yong Kim Non-Independ
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Folk Fong Shing @ Kok Fong Hing Ind
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Supply of Information The Board as
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3. RELATIONS WITH SHAREHOLDERS AND
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AUDIT COMMITTEE REPORT COMPOSITION
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ACTIVITIES DURING THE FINANCIAL YEA
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NOMINATION COMMITTEE Chairman : Mr
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THE GROUP’S BUSINESSES • Aerial
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sebanyak 25%. Kesan positif pengumu
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CHAIRMAN’S STATEMENT On behalf of
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主席报告我谨代表董事部,
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FINANCIAL STATEMENTS 2010 For The F
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DIRECTORS’ INTERESTS (continued)
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OTHER STATUTORY INFORMATION Before
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INCOME STATEMENTS FOR THE FINANCIAL
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BALANCE SHEETS (continued) AS AT 30
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Group STATEMENTS OF CHANGES IN EQUI
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CASH FLOW STATEMENTS FOR THE FINANC
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NOTES TO THE FINANCIAL STATEMENTS 3
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3. SIGNIFICANT ACCOUNTING POLICIES
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4. CHANGES IN ACCOUNTING POLICIES (
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4. CHANGES IN ACCOUNTING POLICIES (
Page 62 and 63: 4. CHANGES IN ACCOUNTING POLICIES (
Page 64 and 65: 5. CRITICAL ACCOUNTING JUDGEMENTS A
Page 66 and 67: 9. PROFIT/(LOSS) FROM OPERATIONS Th
Page 68 and 69: 11. OVER PROVISION FOR LOSS Pursuan
Page 70 and 71: 14. PROPERTY, PLANT AND EQUIPMENT F
Page 72 and 73: 14. PROPERTY, PLANT AND EQUIPMENT (
Page 74 and 75: 14. PROPERTY, PLANT AND EQUIPMENT (
Page 76 and 77: 18. INVESTMENT IN SUBSIDIARIES 74 C
Page 78 and 79: 18. INVESTMENT IN SUBSIDIARIES (con
Page 80 and 81: 18. INVESTMENT IN SUBSIDIARIES (con
Page 82 and 83: 19. INVESTMENT IN ASSOCIATES Group
Page 84 and 85: 20. OTHER INVESTMENTS Long Term Inv
Page 86 and 87: 21. TRADE AND OTHER RECEIVABLES Gro
Page 88 and 89: 22. DEFERRED TAXATION (continued) D
Page 90 and 91: 26. NON-CURRENT ASSETS CLASSIFIED A
Page 92 and 93: 29. PREFERENCE SHARES Megasteel iss
Page 94 and 95: 29. PREFERENCE SHARES (continued) T
Page 96 and 97: 30. BORROWINGS (continued) The weig
Page 98 and 99: 30. BORROWINGS (continued) (A) Synd
Page 100 and 101: 31. REDEEMABLE CONVERTIBLE SECURED
Page 102 and 103: 32. BONDS AND DEBTS Group Company 2
Page 104 and 105: 32. BONDS AND DEBTS (continued) (A)
Page 106 and 107: 33. DEFERRED LIABILITIES 104 Group
Page 108 and 109: 36. EMPLOYEE BENEFITS (a) Defined B
Page 110 and 111: 36. EMPLOYEE BENEFITS (continued) (
Page 114 and 115: 40. SEGMENTAL ANALYSIS (continued)
Page 116 and 117: 40. SEGMENTAL ANALYSIS (continued)
Page 118 and 119: 42. FINANCIAL INSTRUMENTS Financial
Page 120 and 121: 42. FINANCIAL INSTRUMENTS (continue
Page 122 and 123: INDEPENDENT AUDITORS’ REPORT TO T
Page 124 and 125: LIST OF GROUP PROPERTIES AS AT 30 J
Page 126 and 127: Thirty Largest Registered Sharehold
Page 128 and 129: Thirty Largest Registered Warrant H
Page 130 and 131: OTHER INFORMATION (I) MATERIAL CONT
Page 132 and 133: (IV) STATUS OF CONDITIONS IMPOSED B
Page 134: ✄ FORM OF PROXY CDS ACCOUNT NUMBE
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continued - The Lion Group

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