MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
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Chairman’s Statement<br />
on behalf of the Board of directors, it is my<br />
pleasure to present the annual report and<br />
financial statements of Mitrajaya Holdings<br />
Berhad (“the company”) and its subsidiary<br />
companies (“the Group”) for the financial<br />
year ended 31 december 2011.<br />
General dato’ ismail Bin Hassan (r)<br />
independent non-executive chairman<br />
08 <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011<br />
oVerVieW<br />
The Group recorded a revenue of RM261.8 million and profit<br />
before tax of RM56.8 million for financial year ended 31<br />
December 2011 as compared to revenue of RM331.9 million<br />
and profit before tax of RM76.7 million recorded in the<br />
previous financial year. The lower revenue was attributable to<br />
reduced contribution from both the property development and<br />
construction divisions following completion of major projects.<br />
The profits recognition in 2011 was primarily derived from the<br />
Group’s property project in Kiara 9 as substantial profits has<br />
been recognised from other completed property projects in<br />
Puchong in 2010.<br />
diVidend<br />
The Board is pleased to recommend a first and final single<br />
tier dividend of 5 sen per share in respect of the financial year<br />
ended 31 December 2011. The dividends shall be subject to<br />
the shareholders’ approval at the forthcoming Annual General<br />
Meeting.<br />
corPorate deVeLoPMent<br />
During the financial year under review, the Company completed<br />
the corporate exercise involving shares split, issue of bonus<br />
and free warrants. Consequent to this, the issued and paid<br />
up capital of the Company now stands at RM198,765,900.50<br />
comprising of 397,531,801 shares of RM0.50 each. Besides<br />
this, a total of 47,729,947 free warrants were issued at an<br />
exercise price of RM0.90 expiring in 2016.<br />
The Company also made a 20% investment (equivalent<br />
to RM6.0 million) in Rawang Specialist Hospital Sdn Bhd.<br />
The hospital is due for completion in 2013 and expected to<br />
commence operations in the same year. The construction of<br />
the hospital is being undertaken by the Group’s construction<br />
arm, Pembinaan Mitrajaya Sdn Bhd.
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