MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...

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Directors’ Report The Directors hereby submit their report together with the audited financial statements of the Group and of the Company for the financial year ended 31st December 2011. pRINCIpAl ACTIvITIES The Company is principally engaged in investment holding activity whilst the principal activities of the subsidiaries are as stated in Note 7 to the financial statements. There has been no significant change in the nature of these principal activities during the financial year. RESUlTS Group Company RM RM Net profit for the financial year 41,009,272 29,655,710 Other comprehensive loss, net of tax (5,318,416) - Total comprehensive income for the year 35,690,856 29,655,710 Attributable to:- Owners of the parent 35,478,144 29,655,710 Non-controlling interests 212,712 - 35,690,856 29,655,710 DIvIDENDS The amounts of dividends paid by the Company since 31st December 2010 were as follows:- In respect of the financial year ended 31st December 2010:- First and final single tier dividend of 12% on 127,280,267 ordinary shares of RM1/- each, paid on 29th July 2011. 15,273,632 Share dividend on the basis of one treasury share for every twenty existing ordinary shares of RM1/- each held in the Company on 1st July 2011, which was credited on 15th July 2011. 3,436,548 18,710,180 At the forthcoming Annual General Meeting, a first and final single tier dividend of RM0.05 per share will be proposed for shareholders’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for in equity as an appropriation of retained profits in the financial year ending 31st December 2012. RESERvES AND pRovISIoNS All material transfers to and from reserves and provisions during the financial year have been disclosed in the financial statements. <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011 RM 25
Directors’ Report (cont’d) BAD AND DoUBTfUl DEBTS Before the statements of comprehensive income and statements of financial position of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful debts, and had satisfied themselves that all known bad debts had been written off and adequate allowance had been made for doubtful debts. At the date of this report, the Directors are not aware of any circumstances that would render the amount written off for bad debts, or the amount of the allowance for doubtful debts, in the financial statements of the Group and of the Company inadequate to any substantial extent. CURRENT ASSETS Before the statements of comprehensive income and statements of financial position of the Group and of the Company were made out, the Directors took reasonable steps to ensure that any current assets, other than debts, which were unlikely to be realised in the ordinary course of business, their values as shown in the accounting records of the Group and of the Company had been written down to an amount that they might be expected to be realised. At the date of this report, the Directors are not aware of any circumstances that would render the values attributed to the current assets in the financial statements of the Group and of the Company misleading. vAlUATIoN METHoDS At the date of this report, the Directors are not aware of any circumstances which have arisen which render adherence to the existing methods of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. CoNTINGENT AND oTHER lIABIlITIES At the date of this report, there does not exist:- (i) any charge on the assets of the Group and of the Company that has arisen since the end of the financial year which secures the liabilities of any other person, or (ii) any contingent liabilities in respect of the Group and of the Company that has arisen since the end of the financial year. In the opinion of the Directors, no contingent liabilities or other liabilities of the Group and of the Company has become enforceable, or is likely to become enforceable within the period of twelve months after the end of the financial year which, will or may substantially affect the ability of the Group and of the Company to meet their obligations as and when they fall due. CHANGE of CIRCUMSTANCES At the date of this report, the Directors are not aware of any circumstances, not otherwise dealt with in this report or the financial statements of the Group and of the Company that would render any amount stated in the financial statements misleading. ITEMS of AN UNUSUAl NATURE The results of the operations of the Group and of the Company for the financial year were not, in the opinion of the Directors, substantially affected by any item, transaction or event of a material and unusual nature. No item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial year and the date of this report which is likely to affect substantially the results of the operations of the Group and of the Company for the financial year in which this report is made. 26 <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011
Page 1 and 2: 2011 Annual Report
Page 3 and 4: Corporate Information Board of dire
Page 5 and 6: Board of Directors from left to rig
Page 7 and 8: Directors’ Profile (cont’d) roL
Page 9 and 10: Chairman’s Statement on behalf of
Page 11 and 12: Operations Review For the financial
Page 13 and 14: Audit Committee Report The Audit Co
Page 15 and 16: Statement on Internal Control INTRo
Page 17 and 18: Corporate Governance Statement INTR
Page 19 and 20: Corporate Governance Statement (con
Page 21 and 22: Corporate Governance Statement (con
Page 23 and 24: Other Information SHARE BUy-BACk Du
Page 25: Financial Statements 25 31 32 33 36
Page 29 and 30: Directors’ Report (cont’d) EMpl
Page 31 and 32: Directors’ Report (cont’d) DIRE
Page 33 and 34: Statements of Comprehensive Income
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