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19. INVESTMENT IN ASSOCIATES Group Company 2010 2009 2010 2009 RM’000 RM’000 RM’000 RM’000 Quoted Shares in Malaysia, at cost 209,807 322,917 200,245 200,245 Quoted Shares outside Malaysia - at cost 95,994 95,994 – – - accumulated impairment losses (12,162) (12,162) – – 83,832 83,832 – – Unquoted Shares - at cost 844,786 844,786 728,348 728,348 - accumulated impairment losses (447,512) (446,144) (728,348) (726,808) 397,274 398,642 – 1,540 690,913 805,391 200,245 201,785 Share of post-acquisition results and reserves 253,783 462,327 – – 944,696 1,267,718 200,245 201,785 Market value of quoted shares: - quoted in Malaysia 268,097 365,175 254,613 225,721 - quoted outside Malaysia 73,526 54,678 – – Represented by: Share of net assets other than goodwill 910,024 1,214,269 Share of goodwill in associates 34,672 53,449 944,696 1,267,718 Certain investments in associates of the Group with carrying values totalling RM682.5 million (2009: RM1,020.5 million) have been charged to financial institutions for credit facilities granted to the Group and as security for the bonds and debts issued by the Company and certain borrowings of the subsidiaries. The impairment of certain investment in associates was recognised to reflect their recoverable amounts based on the net assets or net tangible assets of the associates. 80
19. INVESTMENT IN ASSOCIATES (continued) The associates are: Country of Holding in Equity Name of Company Incorporation 2010 2009 Principal Activities % % ACB Resources Berhad Malaysia 45.77 45.77 Investment holding # 1.89 # 1.89 Lion Industries Corporation Malaysia 25.25 25.33 Investment holding and Berhad # 1.34 # 15.65 property development Lion Plantations Sdn Bhd Malaysia 30.00 30.00 Investment holding Lion Insurance Company Malaysia # 39.00 # 39.00 Captive insurance business Limited Lion Asiapac Limited Republic of # 29.98 # 29.98 Investment holding Singapore # Held by subsidiaries The summarised financial information of the associates is as follows: 81 2010 2009 RM’000 RM’000 Assets Current assets 3,386,822 3,015,424 Non-current assets 4,776,299 5,005,355 Total assets 8,163,121 8,020,779 Liabilities Current liabilities 2,655,514 1,734,242 Non-current liabilities 1,856,911 2,866,127 Total liabilities 4,512,425 4,600,369 Results Revenue 5,417,527 4,957,705 Profit/(Loss) for the year 619,310 (382,781) The Group’s share of losses of the associates has been recognised to the extent of the carrying amount of the investments. The cumulative unrecognised share of losses amounted to RM37.6 million (2009: RM73.4 million) and current year’s unrecognised share of profit amounted to RM35.8 million (2009: share of losses amounted to RM73.4 million).
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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
Page 28 and 29:
主席报告我谨代表董事部,
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FINANCIAL STATEMENTS 2010 For The F
Page 32 and 33: DIRECTORS’ INTERESTS (continued)
Page 34 and 35: OTHER STATUTORY INFORMATION Before
Page 36 and 37: INCOME STATEMENTS FOR THE FINANCIAL
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 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
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(IV) STATUS OF CONDITIONS IMPOSED B
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✄ FORM OF PROXY CDS ACCOUNT NUMBE
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