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INCOME STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2010 Group Company 2010 2009 2010 2009 Note RM’000 RM’000 RM’000 RM’000 Revenue 6 3,703,121 3,099,585 65,826 116,474 Other operating income 132,775 56,081 4,740 355 Changes in inventories of finished goods and work-in-progress 152,320 (20,207) – – Purchase of trading goods (2,019) (3,054) – – Raw materials and consumables used (2,861,536) (2,712,880) – – Property development expenditure (37,191) (10,155) – – Employee benefits expenses 7 (97,202) (103,250) (805) (1,073) Depreciation and amortisation (141,422) (138,842) – – Provision for diminution in value of inventories (4,678) (358,020) – – Other operating expenses 8 (561,443) (612,506) (2,575) (8,386) Profit/(Loss) from operations 9 282,725 (803,248) 67,186 107,370 Finance costs 10 (307,060) (408,235) (116,256) (212,777) Share in results of associates 167,804 (84,172) – – Impairment loss in a subsidiary 18 – – – (720) Impairment loss in associates 19 (1,368) (1,011) (1,540) (1,011) Loss on dilution of an associate 30(A)(i) (286,755) – – – Over provision for loss 11 – 40,499 – – Loss before taxation (144,654) (1,256,167) (50,610) (107,138) Taxation 12 (7,482) 40,695 1,887 622 Net loss for the financial year (152,136) (1,215,472) (48,723) (106,516) Attributable to: - Ordinary equity holders of the Company (112,812) (1,041,527) (48,723) (106,516) - Minority interests (39,324) (173,945) – – Net loss for the financial year (152,136) (1,215,472) (48,723) (106,516) Loss per share attributable to ordinary equity holders of the Company: 13 - Basic (sen) (5.9) (79.6) - Diluted (sen) N/A N/A The accompanying notes form an integral part of the financial statements. 34
BALANCE SHEETS AS AT 30 JUNE 2010 Group Company 2010 2009 2010 2009 Note RM’000 RM’000 RM’000 RM’000 ASSETS Non-Current Assets Property, plant and equipment 14 2,918,011 3,041,232 – – Land held for property development 15(a) 23,539 33,201 – – Prepaid land lease payments 16 13,934 14,790 – – Goodwill 17 479,135 499,135 – – Investment in subsidiaries 18 – – 11,873 11,852 Investment in associates 19 944,696 1,267,718 200,245 201,785 Long term investments 20 57,190 75,707 102 1,029 Deferred tax assets 22 161,370 177,097 – – 4,597,875 5,108,880 212,220 214,666 Current Assets Property development costs 15(b) 1,127 15,287 – – Inventories 23 1,543,038 816,293 – – Short term investments 20 12,514 2,870 – – Trade and other receivables 21 295,295 323,771 532 518 Amount due from subsidiaries 24 – – 2,326,423 2,289,524 Tax recoverable 3,946 3,200 1,403 952 Deposits with financial institutions 25 30,504 36,216 708 999 Cash and bank balances 112,367 62,650 502 555 1,998,791 1,260,287 2,329,568 2,292,548 Non-current assets classified as held for sale 26 467 – – – 1,999,258 1,260,287 2,329,568 2,292,548 TOTAL ASSETS 6,597,133 6,369,167 2,541,788 2,507,214 35
Page 2 and 3: CONTENTS Page Notice of Meeting 1 C
Page 4 and 5: 6.1.2 Proposed Shareholders’ Mand
Page 6 and 7: CORPORATE INFORMATION Board of Dire
Page 8 and 9: Tan Sri Cheng Yong Kim Non-Independ
Page 10 and 11: Folk Fong Shing @ Kok Fong Hing Ind
Page 12 and 13: Supply of Information The Board as
Page 14 and 15: 3. RELATIONS WITH SHAREHOLDERS AND
Page 16 and 17: AUDIT COMMITTEE REPORT COMPOSITION
Page 18 and 19: ACTIVITIES DURING THE FINANCIAL YEA
Page 20 and 21: NOMINATION COMMITTEE Chairman : Mr
Page 22 and 23: THE GROUP’S BUSINESSES • Aerial
Page 24 and 25: sebanyak 25%. Kesan positif pengumu
Page 26 and 27: CHAIRMAN’S STATEMENT On behalf of
Page 28 and 29: 主席报告我谨代表董事部,
Page 30 and 31: FINANCIAL STATEMENTS 2010 For The F
Page 32 and 33: DIRECTORS’ INTERESTS (continued)
Page 34 and 35: OTHER STATUTORY INFORMATION Before
Page 38 and 39: BALANCE SHEETS (continued) AS AT 30
Page 40 and 41: Group STATEMENTS OF CHANGES IN EQUI
Page 42 and 43: CASH FLOW STATEMENTS FOR THE FINANC
Page 44 and 45: NOTES TO THE FINANCIAL STATEMENTS 3
Page 46 and 47: 3. SIGNIFICANT ACCOUNTING POLICIES
Page 58 and 59: 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 112 and 113:
39. RELATED PARTY TRANSACTIONS Rela
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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