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Boustead Sissons Paints’ new factory in Nilai. Boustead Sissons Paints Sdn Bhd recorded lacklustre growth due to declining sales volume as a result of reduced construction projects. However, the company is confident of strengthening its brand position and improving marketability. This is reflected by the investment made for the new plant in Nilai, Negeri Sembilan, which will ease production bottlenecks. In line with streamlining efforts, the China factory will be closed in the coming year. CONSUMER BRANDS Kao Malaysia Sdn Bhd weathered stormy market conditions driven by fierce competition and managed to report an increase of 28% in profit contribution. Pro-active and innovative branding and distribution initiatives resulted in maintaining market share of its core products specifically in the sanitary and facial categories. Cadbury Confectionery Malaysia Sdn Bhd further reinforced its firm grip on the local confectionery market to maintain its status as a leader in the sector and posted a 116% increase in profit contribution. Comprehensive and innovative branding efforts kept the company’s core products in a commanding position. 67
68 TRADING Boustead Global Trade Network Sdn Bhd registered an improved performance with strong support from all Principals that resulted in surging sales volumes while adhering to stringent cost control measures. Riche Monde Sdn Bhd also recorded a very successful year by once again making a strong contribution to the division’s earnings. The announcement of a hike in excise duty did little to hamper the sales volume of duty free and domestic duty paid markets, which were buoyed by an influx of tourists and a string of promotions. Though the shortage of steel bars in the first half of the financial year was an industry wide concern, Boustead Building Materials Sdn Bhd was able to record improved growth due to its focus in other building products which boosted higher margins. The Curve at Mutiara Damansara and projects at Mutiara Rini played a significant role to contribute to its growth. Boustead Engineering Sdn Bhd maintained its profitable streak due to the healthy performance of both the Mechanical Industrial Supplies and Chemicals departments. In contrast, Drew Ameroid Sdn Bhd only saw a marginal increase in sales turnover while Boustead Emastulin Sdn Bhd suffered a loss as a result of the discouraging sales of BMC trucks and the non-availability of desired models of Proton cars. The longest outdoor billboard in Malaysia.
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22 corporate governance 38 chairman
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2 Board of Directors
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4 Directors’ Profile Y. Bhg. Gen.
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6 TOP Y. Bhg. Lt. Gen. (R) Dato’
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8 Y. Bhg. Dato’ (Dr.) Megat Abdul
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10 Corporate Information Directors
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12 Senior Management Team En. Danie
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14 Senior Management Team En. Andre
Page 17 and 18: 16 THE BOARD OF DIRECTORS OF BOUSTE
Page 19 and 20: 18 TERMS OF REFERENCE OF THE AUDIT
Page 21 and 22: 20 ACTIVITIES DURING THE FINANCIAL
Page 23 and 24: 22 corporate governance THE BOARD O
Page 25 and 26: 24 Corporate Governance COMPOSITION
Page 27 and 28: 26 Corporate Governance INFORMATION
Page 29 and 30: 28 Corporate Governance Remuneratio
Page 31 and 32: 30 Corporate Governance DIRECTORS
Page 33 and 34: 32 Statement on Internal Control BO
Page 35 and 36: 34 Statement on Internal Control IN
Page 37 and 38: 36 1,300 1,040 780 520 260 0 Five Y
Page 39 and 40: 38 chairman’s statement DEAR SHAR
Page 41 and 42: 40 ECONOMIC LANDSCAPE On the broade
Page 43 and 44: 42 FINANCIAL PERFORMANCE The facts
Page 45 and 46: 44 Although the privatisation of Bo
Page 47 and 48: 46 In addition, other programmes we
Page 49 and 50: 48 OUTLOOK AND PROSPECTS On a Group
Page 51 and 52: 50 chief executive’s review DEAR
Page 53 and 54: 52 Chief Executive’s Review CORPO
Page 55 and 56: 54 In 2004, the division registered
Page 57 and 58: 56 In addition, our commercial clon
Page 59 and 60: 58 The appeal of this design lies i
Page 61 and 62: 60 Year 2004 was an exceptional yea
Page 63 and 64: 62 Up north in Bukit Mertajam, Jern
Page 65 and 66: 64 The division’s contribution of
Page 67: 66 The division recorded strengthen
Page 71 and 72: 70 improving supply and demand tren
Page 73 and 74: 72 Directors’ Report The Director
Page 75 and 76: 74 Directors’ Report DIRECTORS’
Page 77 and 78: 76 Directors’ Report EMPLOYEES’
Page 79 and 80: 78 Directors’ Report OTHER STATUT
Page 81 and 82: 80 Statement by Directors and Statu
Page 83 and 84: 82 Auditors’ Report We are satisf
Page 85 and 86: 84 Balance Sheets For the year ende
Page 87 and 88: 86 Statements of Changes in Equity
Page 89 and 90: 88 Statements of Changes in Equity
Page 91 and 92: 90 Cash Flow Statements For the yea
Page 93 and 94: 92 Accounting Policies (c) ASSOCIAT
Page 95 and 96: 94 Accounting Policies (f) PROPERTY
Page 97 and 98: 96 Accounting Policies (l) EMPLOYEE
Page 99 and 100: 98 Accounting Policies (p) FINANCIA
Page 101 and 102: 100 Notes to the Financial Statemen
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118 Notes to the Financial Statemen
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140 Boustead Group Group Interest %
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142 Boustead Group Group Interest %
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144 Recurrent Related Party Transac
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146 Recurrent Related Party Transac
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148 Group Property Portfolio Age of
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154 Location of Group Plantation Pr
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156 Shareholding Statistics Analysi
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158 ORDINARY BUSINESS NOTICE IS HER
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160 Notice of Annual General Meetin
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Boustead Management Services Sdn Bh
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