Laporan Tahunan 2010 annuaL reporT

Transcription

Laporan Tahunan 2010 Annual Report • Syarikat Takaful Malaysia Berhad (131646-K)
Laporan Tahunan 2010 Annual Report
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Syarikat Takaful Malaysia Berhad (131646-K) • Laporan Tahunan 2010 Annual Report
Boasting an extensive nationwide branch network, Takaful Malaysia serves the
needs of all Malaysians by offering insurance and financial solutions to secure every
stage of life. From providing protection to growing your investment and savings,
our dedicated personnel are ever ready to help you secure your future and provide
you peace of mind.
Dengan jaringan meluas di setiap pelusuk negara, Takaful Malaysia menyediakan
keperluan kepada seluruh rakyat Malaysia melalui perlindungan insurans dan
bertindak sebagai penyelesai kewangan untuk melindungi setiap fasa kehidupan
anda. Bermula daripada menyediakan perlindungan sehinggalah membantu anda
mencambahkan pelaburan dan simpanan, kami dengan penuh dedikasi dan sentiasa
bersedia untuk memberi bantuan dan khidmat nasihat demi melindungi masa depan
serta ketenangan fikiran anda.
Values
The defining pillars of the Takaful
Malaysia brand are the values that
we continuously strive to manifest
through our work.
• Inspiring
• Integrity
• Teamwork
• Humanitarian
• Professional
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002
Isi Kandungan
Contents
003
Visi & Misi
Vision & Mission
006Notis Mesyuarat Agung
Tahunan ke 25
Notice of 25th Annual General Meeting
009Notis Mesyuarat Agung Tahunan ke 26
Notice of 26th Annual
General Meeting
012Penyata Mengiringi Notis Mesyuarat Agung Tahunan Kedua Puluh Lima
Statement Accompanying Notice of Twenty Fifth Annual General Meeting
013Penyata Mengiringi Notis Mesyuarat Agung Tahunan Kedua Puluh Enam
Statement Accompanying Notice of Twenty Sixth Annual General Meeting
016Ringkasan Kewangan
Lima Tahun
Five Years
Financial Highlights
018
Struktur Korporat
Corporate Structure
070Penyata Pengerusi
Chairman’s Statement
019
Maklumat Korporat
Corporate Information
087Penyata Kewangan
Financial Statements
024
Profil Lembaga Pengarah
Board of Directors’ Profile
183
Maklumat Hartanah
Particulars of Properties
031
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
191
035
Jawatankuasa Pengurusan
Management Committee
195Rangkaian Cawangan
Branch Network
040 Laporan Jawatankuasa Audit
Audit Committee Report
050
Penyata Urus Tadbir
Korporat
Corporate Governance Statement
060 Maklumat Pematuhan
Tambahan
Additional Compliance
Information
064Penyata Kawalan Dalaman
Statement on Internal Control
Statistik Pegangan Saham
Shareholdings Statistics
Borang Proksi
(Notis Mesyuarat Agung
Tahunan ke 25)
Proxy Form
(25th Annual
General Meeting)
Borang Proksi
(Notis Mesyuarat Agung
Tahunan ke 26)
Proxy Form
(26th Annual
General Meeting)
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Visi & Misi
Vision & Mission
“Kami ingin menjadi pilihan utama insurans”
Matlamat kami adalah untuk melangkaui jangkaan
pelanggan melalui:
• Kecemerlangan Operasi
• Kebolehan Dalam Daya Saing Teknologi
• Inovasi Produk
• Budaya Kerja Berorientasikan Prestasi
Dalam usaha meningkatkan nilai pemegang-pemegang saham
“We want to be the preferred choice for insurance”
We aim to exceed customers’ expectations through:
• Operational Excellence
• Technology Driven Capabilities
• Product Innovation
• Performance Oriented Culture
Whilst delivering superior shareholders’ value
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Inspiring
Our perseverance to our continued development of
our industry, bringing it to the next level.
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Notis Mesyuarat Agung Tahunan ke 25
DENGAN INI DIMAKLUMKAN bahawa MESYUARAT AGUNG
NOTICE IS HEREBY GIVEN that the TWENTY FIFTH
TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD YANG
ANNUAL GENERAL MEETING of SYARIKAT TAKAFUL
KEDUA PULUH LIMA akan diadakan
MALAYSIA BERHAD will be held at Dewan Ahmad
di
Dewan
Ahmad
Mohamed Ibrahim, Tingkat 5, Blok Annex, Dataran Kewangan
Mohamed Ibrahim, 5th Floor, Annexe Block, Dataran
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala
Kewangan Darul Takaful, No. 4, Jalan Sultan Sulaiman,
Lumpur pada hari Khamis, 5 Mei 2011, jam 9:30 pagi bagi
50000 Kuala Lumpur on Thursday, 5 May 2011, at 9:30 a.m.
tujuan-tujuan berikut:
for the following purposes:
SEBAGAI URUSAN BIASA
AS ORDINARY BUSINESS
1.
1.
Untuk menerima Penyata-penyata Kewangan Beraudit
To receive the Audited Financial Statements for eighteen
bagi lapan belas (18) bulan tempoh kewangan berakhir 31
(18) months financial period ended 31 December 2010,
Disember 2010, berserta laporan Pengarah dan Juruaudit
together with the reports of the Directors and Auditors
berkaitan dengannya.
thereon.
(Resolusi 1)
(Resolution 1)
2. Untuk meluluskan dividen akhir sebanyak 7% ditolak
2. To approve a final dividend of 7% less 25% tax in respect
25% cukai bagi lapan belas (18) bulan tempoh kewangan
of the eighteen (18) months financial period ended 31
berakhir 31 Disember 2010.
December 2010.
(Resolusi 2)
3. Untuk melantik semula Pengarah-pengarah berikut yang
3. To re-elect the following Directors, each of whom retires
bersara menurut Tataurusan Persatuan Syarikat:
Artikel 62
3.1 Encik Mahadzir Azizan 3.2 Y. Bhg. Dato’ Sulaiman Mohd Yusof
Artikel 66A
3.3 Y. Bhg. Dato’ Paduka Ismee Ismail
3.4 Encik Zakaria Ismail
(Resolution 2)
pursuant to the Company’s Articles of Association:
Article 62
(Resolusi 3)
3.1 Encik Mahadzir Azizan
(Resolution 3)
(Resolusi 4)
3.2 Y. Bhg. Dato’ Sulaiman Mohd Yusof
(Resolution 4)
Article 66A
(Resolusi 5)
3.3 Y. Bhg. Dato’ Paduka Ismee Ismail
(Resolution 5)
(Resolusi 6)
3.4 Encik Zakaria Ismail
(Resolution 6)
4. Untuk meluluskan bayaran yuran Pengarah-pengarah
4. To approve the payment of the Directors’ fees of
sebanyak RM721,000 bagi lapan belas (18) bulan tempoh
RM721,000 for eighteen (18) months financial period
kewangan berakhir 31 Disember 2010.
ended 31 December 2010.
(Resolusi 7)
5. Untuk meluluskan bayaran yuran Ahli-ahli Badan Penasihat
(Resolution 7)
5. To approve the payment of Shariah Advisory Body
Syariah sebanyak RM153,000 bagi lapan belas (18) bulan
Members’ fees of RM153,000 for eighteen (18) months
tempoh kewangan berakhir 31 Disember 2010.
financial period ended 31 December 2010.
(Resolusi 8)
(Resolution 8)
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6. Untuk melantik semula Tetuan KPMG Desa Megat &
6. To re-appoint Messrs KPMG Desa Megat & Co. as the
Co. sebagai Juruaudit Syarikat dan memberi kuasa
Auditors of the Company and to authorise the Directors
kepada Pengarah-pengarah untuk menetapkan bayaran
Juruaudit.
to fix their remuneration.
(Resolution 9)
(Resolusi 9)
7. Untuk melaksanakan sebarang urusan yang mana notis
7. To transact any other business for which due notice has
sewajarnya telah diberi.
been given.
NOTIS PENERIMAAN DAN PEMBAYARAN DIVIDEN
NOTICE OF DIVIDEND ENTITLEMENT AND PAYMENT
NOTIS DENGAN INI JUGA DIBERI BAHAWA dividen akhir
NOTICE IS ALSO HEREBY GIVEN THAT a final dividend
sebanyak 7% ditolak 25% cukai bagi lapan belas (18) bulan
of 7% less 25% tax in respect of the eighteen (18)
tempoh kewangan berakhir 31 Disember 2010, akan dibayar
months financial period ended 31 December 2010 will
pada 27 Mei 2011 kepada para Pendeposit yang berdaftar di
be paid on 27 May 2011 to Depositors registered in the
dalam Rekod Pendeposit pada penutupan perniagaan pada 9
Record of Depositors at the close of business on 9 May
Mei 2011.
2011.
NOTIS SETERUSNYA DENGAN INI JUGA DIBERI BAHAWA
FURTHER NOTICE IS HEREBY GIVEN THAT a Depositor
seorang Pendeposit adalah layak untuk menerima dividen
shall qualify for entitlement to the dividend only in respect
hanya dalam keadaan:
of:
(a) Saham yang telah dipindahkan ke dalam Akaun Sekuriti
(a) Shares transferred into the Depositor’s Securities Account
Pendeposit sebelum 4:00 petang pada 9 Mei 2011
before 4:00 p.m. on 9 May 2011 in respect of transfers;
berhubung pindahan; dan
and
(b) Saham yang dibeli di Bursa Malaysia Securities Berhad
(b) Shares bought on the Bursa Malaysia Securities Berhad on
dengan asas kelayakan menurut Peraturan Bursa Malaysia
a cum entitlement basis according to the Rules of Bursa
Securities Berhad.
Malaysia Securities Berhad.
Atas Arahan Lembaga Pengarah
By Order of the Board
MOHAMAD ASRI HAJI YUSOFF (MIA 14171)
Setiausaha Syarikat
Company Secretary
Kuala Lumpur
Kuala Lumpur
13 April 2011
13 April 2011
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Nota:
Notes:
(i) Syarikat telah menukar akhir tahun kewangan dari 30 Jun
kepada 31 Disember dan pengumuman telah dibuat ke Bursa
Malaysia Securities Berhad pada 29 Oktober 2009 berkaitan
dengan penukaran akhir tahun kewangan. Seksyen 143 (1) Akta
Syarikat, 1965 menyatakan bahawa Mesyuarat Agung Tahunan
mesti diadakan sekali dalam setiap tahun kalendar. Suruhanjaya
Syarikat Malaysia telah memberi kelulusan lanjutan masa
sehingga 31 Mei 2011 untuk Syarikat mengadakan Mesyuarat
Agung Tahunannya bagi tahun kalendar 2010. Syarikat tidak
mengadakan apa-apa Mesyuarat Agung Tahunan dalam tahun
kalendar 2010. Sehubungan dengan itu, Mesyuarat Agung
Tahunan ke 25 akan datang akan diadakan untuk membentangkan
Penyata Kewangan Beraudit 18 bulan yang bermula dari 1 Julai
2009 sehingga 31 Disember 2010 serta urusan-urusan biasa
lain, dan Mesyuarat Agung Tahunan ini akan dianggap diadakan
untuk tahun kalendar 2010.
(i) The Company has changed its financial year end from 30 June
to 31 December and an announcement has been made to Bursa
Malaysia Securities Berhad on 29 October 2009 on the change
of financial year end. Section 143 (1) of the Companies Act,
1965 states that an Annual General Meeting (“AGM”) must be
held once in every calendar year. The Companies Commission
of Malaysia had granted its approval for an extension of time
until 31 May 2011 for the Company to hold its AGM in respect of
the calendar year 2010. The Company did not hold any AGM in
the calendar year 2010. Hence, the forthcoming 25th AGM will
be held to table the 18 months Audited Financial Statements
made up from 1 July 2009 to 31 December 2010 as well as other
ordinary businesses, and this AGM shall be deemed to be held
for the calendar year 2010.
(ii) A member entitled to attend and vote at the meeting is entitled to
appoint a proxy or proxies to attend and to vote instead of him and
shall specify the proportions of his holdings to be represented by
each proxy and a proxy need not be a member of the Company.
(ii) Seorang ahli yang berhak hadir untuk mengundi dalam mesyuarat
itu layak untuk melantik seorang atau beberapa orang proksi untuk
hadir dan mengundi bagi pihaknya dan haruslah menyatakan
bahagian sahamnya yang diwakili oleh setiap proksi dan proksi itu
tidak semestinya seorang ahli Syarikat.
(iii) The instrument appointing a proxy in the case of an individual
shall be signed by the appointer or his attorney and in the case of
a corporation, must be under seal or under the hand of an officer
or attorney duly authorised.
(iii) Suratcara pelantikan proksi bagi individu hendaklah ditandatangani
oleh pelantik atau peguamnya dan dalam hal perbadanan, ia
mestilah dimeterai atau ditandatangani oleh seorang pegawai
atau peguamnya yang telah diberi kuasa sewajarnya.
(iv) The instrument appointing a proxy must be deposited at the
Registered Office of the Company at Tingkat 26, Blok Annex,
Dataran Kewangan Darul Takaful, No. 4, Jalan Sultan Sulaiman,
50000 Kuala Lumpur not less than forty-eight (48) hours before
the time for holding the meeting or any adjournment thereof.
(iv) Suratcara pelantikan seorang proksi mestilah dihantar ke Pejabat
Berdaftar Syarikat di Tingkat 26, Blok Annex, Dataran Kewangan
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur,
tidak lewat dari empat puluh lapan (48) jam sebelum waktu
yang ditetapkan bagi mengadakan mesyuarat atau sebarang
penangguhannya.
009
DENGAN INI DIMAKLUMKAN bahawa MESYUARAT AGUNG
TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD YANG
KEDUA PULUH ENAM akan diadakan di Dewan Ahmad
Mohamed Ibrahim, Tingkat 5, Blok Annex, Dataran Kewangan
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala
Lumpur pada hari Khamis, 5 Mei 2011, dengan serta merta
selepas berakhirnya atau penangguhan (mengikut yang mana
berkaitan) Mesyuarat Agung Tahunan ke 25 yang akan diadakan
pada jam 9:30 pagi pada hari dan pada tempat yang sama, bagi
tujuan-tujuan berikut:-
NOTICE IS HEREBY GIVEN that the TWENTY SIXTH
ANNUAL GENERAL MEETING of SYARIKAT TAKAFUL
MALAYSIA BERHAD will be held at Dewan Ahmad
Mohamed Ibrahim, 5th Floor, Annexe Block, Dataran
Kewangan Darul Takaful, No. 4, Jalan Sultan Sulaiman,
50000 Kuala Lumpur on Thursday, 5 May 2011, immediately
following the conclusion or adjournment (as the case may
be) of the 25th Annual General Meeting which will be held
at 9:30 a.m. on the same day and at the same venue, for
the following purposes:-
SEBAGAI URUSAN BIASA
AS ORDINARY BUSINESS
1.
Untuk melantik semula Pengarah-pengarah berikut yang
bersara menurut Artikel 62 Tataurusan Persatuan Syarikat:
1.
To re-elect the following Directors, each of whom retires
pursuant to Article 62 of the Company’s Articles of
Association:
1.1 Encik Johan Abdullah 1.1 Encik Johan Abdullah (Resolusi 1)
1.2 Y. Bhg. Dato’ Mohamed Hassan Md Kamil
(Resolusi 2)
2. Untuk melantik semula Tetuan KPMG Desa Megat & Co.
sebagai Juruaudit Syarikat dan memberi kuasa kepada
Pengarah-pengarah untuk menetapkan bayaran Juruaudit.
(Resolusi 3)
(Resolution 1)
1.2 Y. Bhg. Dato’ Mohamed Hassan Md Kamil
(Resolution 2)
2. To re-appoint Messrs KPMG Desa Megat & Co. as the
Auditors of the Company and to authorise the Directors to
fix their remuneration.
(Resolution 3)
SEBAGAI URUSAN KHAS
AS SPECIAL BUSINESS
3. Resolusi Biasa – Cadangan Mandat Pemegang Saham bagi
Urusniaga Pihak Berkaitan yang Berulang Berbentuk Hasil
atau Perdagangan dengan BIMB Holdings Berhad dan
subsidiari-subsidiarinya (‘Kumpulan BHB”).
“BAHAWA, tertakluk kepada pematuhan dengan Keperluan
Penyenaraian Bursa Malaysia Securities Berhad, Akta
Syarikat 1965, Tataurusan Persatuan Syarikat dan semua
undang-undang, peraturan dan garis panduan yang
berkaitan, kelulusan dengan ini diberikan kepada Syarikat
dan subsidiari-subsidiarinya (“Kumpulan Takaful Malaysia”)
untuk memeterai Urusniaga Pihak Berkaitan yang Berulang
berbentuk hasil atau perdagangan dengan Kumpulan BHB
yang perlu bagi operasi harian Kumpulan Takaful Malaysia
seperti yang dinyatakan dalam Seksyen 2.3 Pekeliling kepada
Para Pemegang Saham bertarikh 13 April 2011 (“Pekeliling”),
dengan syarat bahawa:
(a) urusniaga tersebut adalah dalam urusan biasa
perniagaan dan mengikut terma yang tidak lebih
memihak kepada pihak berkaitan berbanding yang
secara umumnya tersedia kepada orang ramai dan
mengikut terma yang tidak menjejaskan para pemegang
saham minoriti Syarikat;
3. Ordinary Resolution – Proposed Shareholders’ Mandate
for Recurrent Related Party Transactions of a Revenue
or Trading Nature with BIMB Holdings Berhad and its
Subsidiaries (“BHB Group”).
“THAT, subject to compliance with the Listing Requirements
of Bursa Malaysia Securities Berhad, Companies Act 1965,
Memorandum and Articles of Association of the Company
and all other applicable laws, rules, regulations and
guidelines, approval be and is hereby given to the Company
and its subsidiaries (“Takaful Malaysia Group”) to enter into
the Recurrent Related Party Transactions of a revenue or
trading nature with the BHB Group which are necessary for
the day to day operations of the Takaful Malaysia Group as
set out in Section 2.3 of the Circular to Shareholders dated
13 April 2011 (“Circular”), provided that:
(a) the transactions are in the ordinary course of business
and are on terms which are not more favourable to the
related parties than those generally available to the
public and on terms not to the detriment of the minority
shareholders of the Company;
010
(b) urusniaga dilaksanakan secara tulus dan mengikut
terma komersial biasa; dan
(b) the transactions are made at arm’s length and on normal
commercial terms; and
(c) penzahiran akan dibuat dalam laporan tahunan dengan
pecahan nilai agregat urus niaga yang dijalankan
menurut mandat pada tahun kewangan.
(c) the disclosure will be made in the annual report with the
breakdown of the aggregate value of the transactions
conducted pursuant to the mandate during the financial
year.
DAN BAHAWA kelulusan tersebut akan bermula serta-merta
setelah resolusi ini diluluskan dan akan terus berkuatkuasa
sehingga:
(a) tamat mesyuarat agung tahunan Syarikat yang akan
datang, di mana mandat tersebut akan luput, melainkan
kuasa tersebut diperbaharui melalui satu resolusi yang
diluluskan dalam mesyuarat tersebut;
(b) tamat tempoh di mana mesyuarat agung tahunan
berikutnya selepas tarikh ia dikehendaki untuk diadakan
menurut Seksyen 143(1) Akta Syarikat, 1965 (“AS”)
(tetapi tidak melebihi penangguhan seperti yang
dibenarkan menurut Seksyen 143(2) AS); atau
AND THAT such authority shall commence immediately
upon the passing of this resolution and shall continue to be
in force until:
(a) the conclusion of the next annual general meeting of
the Company, at which time it will lapse, unless by a
resolution passed at the meeting, the authority is
renewed;
(b) the expiration of the period within which the next annual
general meeting after the date that it is required to be
held pursuant to Section 143(1) of the Companies Act,
1965 (“CA”) (but shall not extend to such extension as
may be allowed pursuant to Section 143(2) of CA); or
(c) dibatalkan atau dipinda melalui resolusi yang diluluskan
oleh pemegang saham dalam mesyuarat agung,
(c) revoked or varied by resolution passed by the
shareholders in a general meeting,
yang mana lebih awal”.
whichever is the earlier”. (Resolusi 4)
(Resolution 4)
4. Untuk melaksanakan sebarang urusan yang mana notis
sewajarnya telah diberi.
4. To transact any other business for which due notice has
been given.
Atas Arahan Lembaga Pengarah
By Order of the Board
Setiausaha Syarikat
Kuala Lumpur
13 April 2011
Company Secretary
Kuala Lumpur
13 April 2011
Nota:
Notes:
1.
Seksyen 143(1) Akta Syarikat, 1965 menyatakan bahawa Mesyuarat
Agung Tahunan mesti diadakan sekali dalam setiap tahun
kalendar. Oleh itu, Mesyuarat Agung Tahunan ke 26 akan datang
akan diadakan bagi tahun kalendar 2011. Tiada Penyata Kewangan
Beraudit akan dibentangkan pada Mesyuarat Agung Tahunan kali
ini. Penyata Kewangan Beraudit 18 bulan untuk tempoh kewangan
berakhir 31 Disember 2010 akan dibentangkan pada Mesyuarat
Agung Tahunan ke 25.
1.
Section 143(1) of the Companies Act, 1965 states that an Annual
General Meeting (“AGM”) must be held once in every calendar
year. Therefore, the forthcoming 26th AGM of the Company will be
held in respect of the calendar year 2011. There will be no Audited
Financial Statements tabled at this AGM. The 18 months Audited
Financial Statements for the financial period ended 31 December
2010 will be tabled at the 25th AGM.
2.
2.
Seorang ahli yang berhak hadir untuk mengundi dalam mesyuarat
itu layak untuk melantik seorang atau beberapa orang proksi untuk
hadir dan mengundi bagi pihaknya dan haruslah menyatakan
bahagian sahamnya yang diwakili oleh setiap proksi dan proksi itu
tidak semestinya seorang ahli Syarikat.
A member entitled to attend and vote at the meeting is entitled to
appoint a proxy or proxies to attend and to vote instead of him and
shall specify the proportions of his holdings to be represented by
each proxy and a proxy need not be a member of the Company.
3.
Suratcara pelantikan proksi bagi individu hendaklah ditandatangani
oleh pelantik atau peguamnya dan dalam hal perbadanan, ia
mestilah dimeterai atau ditandatangani oleh seorang pegawai atau
peguamnya yang telah diberi kuasa sewajarnya.
The instrument appointing a proxy in the case of an individual shall
be signed by the appointer or his attorney and in the case of a
corporation, must be under seal or under the hand of an officer or
attorney duly authorised.
4.
The instrument appointing a proxy must be deposited at the
Registered Office of the Company at Tingkat 26, Blok Annex,
Dataran Kewangan Darul Takaful, No. 4, Jalan Sultan Sulaiman,
50000 Kuala Lumpur not less than forty-eight (48) hours before
the time for holding the meeting or any adjournment thereof.
3.
4.
Suratcara pelantikan seorang proksi mestilah dihantar ke Pejabat
Berdaftar Syarikat di Tingkat 26, Blok Annex, Dataran Kewangan
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur,
tidak lewat dari empat puluh lapan (48) jam sebelum waktu
yang ditetapkan bagi mengadakan mesyuarat atau sebarang
penangguhannya.
NOTA PENERANGAN KEPADA URUSNIAGA KHAS
EXPLANATORY NOTE ON SPECIAL BUSINESS
(1) Cadangan Mandat Pemegang Saham bagi Urusniaga Pihak
Berkaitan yang Berulang Berbentuk Hasil atau Perdagangan
(1) Proposed Shareholders’ Mandate for Recurrent Related Party
Transaction of a Revenue or Trading Nature
The proposed Resolution No. 4, if passed, will empower the Company
to conduct recurrent related party transactions of a revenue or
trading in nature which are necessary for Takaful Malaysia Group’s
day to day operations and will eliminate the need to convene
separate general meetings from time to time to seek shareholder’
approval. The details on the proposed shareholders’ mandate for
recurrent related party transactions of a revenue or trading nature
are set out in the Circular to Shareholders dated 13 April 2011.
Cadangan Resolusi No. 4, jika diluluskan, akan memberi kuasa
kepada Syarikat untuk melaksanakan urusniaga pihak berkaitan
yang berulang berbentuk hasil atau perdagangan yang perlu bagi
operasi harian Kumpulan Takaful Malaysia dan akan menghapuskan
keperluan untuk menjalankan mesyuarat agung yang berasingan
dari masa ke semasa untuk mendapatkan kelulusan para pemegang
saham. Butiran cadangan mandat pemegang saham bagi urusniaga
pihak berkaitan yang berulang berbentuk hasil atau perdagangan
ada dinyatakan di dalam Pekeliling kepada Pemegang Saham
bertarikh 13 April 2011.
011
012
Penyata Mengiringi Notis Mesyuarat
Agung Tahunan Kedua Puluh Lima
mengikut Perenggan 8.27 (2) Keperluan Penyenaraian Pasaran Utama Bursa Malaysia Securities Berhad
Tiada individu yang dilantik sebagai Pengarah (selain daripada pengarah yang bersedia untuk dilantik semula iaitu Encik Mahadzir
Azizan, Y. Bhg. Dato’ Sulaiman Mohd Yusof, Y. Bhg. Dato’ Paduka Ismee Ismail dan Encik Zakaria Ismail) dalam Mesyuarat Agung
Tahunan Syarikat Takaful Malaysia Berhad yang Kedua Puluh Lima akan datang.
Statement Accompanying Notice
Of Twenty Fifth Annual General Meeting
pursuant to Paragraph 8.27 (2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
There is no individual standing for election as Director (other than directors standing for re-election i.e. Encik Mahadzir Azizan, Y.
Bhg. Dato’ Sulaiman Mohd Yusof, Y. Bhg. Dato’ Paduka Ismee Ismail and Encik Zakaria Ismail) at this forthcoming Twenty Fifth
Annual General Meeting of Syarikat Takaful Malaysia Berhad.
Penyata Mengiringi Notis Mesyuarat
Agung Tahunan Kedua Puluh Enam
mengikut Perenggan 8.27 (2) Keperluan Penyenaraian Pasaran Utama Bursa Malaysia Securities Berhad
Tiada individu yang dilantik sebagai Pengarah (selain daripada pengarah yang bersedia untuk dilantik semula iaitu Encik Johan
Abdullah dan Y. Bhg. Dato’ Mohamed Hassan Md Kamil) dalam Mesyuarat Agung Tahunan Syarikat Takaful Malaysia Berhad yang
Kedua Puluh Enam akan datang.
Statement Accompanying Notice
Of Twenty Sixth Annual General Meeting
pursuant to Paragraph 8.27 (2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
There is no individual standing for election as Director (other than directors standing for re-election i.e. Encik Johan Abdullah and
Y. Bhg. Dato’ Mohamed Hassan Md Kamil) at this forthcoming Twenty Sixth Annual General Meeting of Syarikat Takaful Malaysia
Berhad.
013
014
Integrity
Our commitment in values of personal integrity
and to build trust.
015
016
Ringkasan Kewangan Lima Tahun
Five Years Financial Highlights
Jumlah Kasar Sumbangan Takaful (RM ’000)/ Total Gross Takaful Contributions (RM ’000)
Takaful Keluarga/Family Takaful
Kumpulan/Group
Syarikat/Company
2006
451,810
2006
375,070
2007
558,570
2007
470,210
2008
647,030
2008
529,690
2009
524,867
2009
433,007
2010
839,909
2010
679,831
Takaful Am/General Takaful
Kumpulan/Group
Syarikat/Company
2006
395,410
2006
341,870
2007
346,370
2007
306,720
2008
254,440
2008
193,370
2009
352,851
2009
276,294
2010
606,354
2010
499,491
Jumlah Aset (RM ’000)/Total Assets (RM ’000)
Kumpulan/Group
Syarikat/Company
2006
3,164,690
2006
2,983,340
2007
3,481,540
2007
3,291,290
2008
4,047,300
2008
3,796,260
2009
4,372,235
2009
4,118,880
2010
4,944,451
2010
4,619,679
Ringkasan Kewangan Lima Tahun
Five Years Financial Highlights
Keuntungan Sebelum Cukai Selepas Zakat (RM ’000)/Profit Before Taxation After Zakat (RM ’000)
Kumpulan/Group
Syarikat/Company
2006
41,010
2006
2007
22,560
2007
2008
33,860
2008
42,660
2009
48,853
2009
45,325
2010
97,370
2010
92,664
Pulangan atas Ekuiti (%)/
Return on Equity (%)
32,590
14,360
Dividen yang dibayar/dicadangkan (Ditolak Cukai) (RM ’000)/
Dividend Paid/Proposed (Net of Taxation) (RM ’000)
2006
12.6
2006
2007
7.5
2007
2008
10.3
2008
8,437
2009
12.0
2009
8,853
2010
10.2
2010
17,096
9,348
017
Struktur Korporat
Corporate Structure
63.09%
42.73%
Syarikat-Syarikat Subsidiari/
Subsidiary Companies
018
57.24%
47.08%
52.67%
56.00%
P.T. SYARIKAT
019
Maklumat Korporat
LEMBAGA PENGARAH/BOARD OF DIRECTORS
Setiausaha/Secretary
Pengerusi/Chairman
Encik Mohamad Asri Hj. Yusoff (MIA 14171)
Y. Bhg. Dato’ Paduka Ismee Ismail
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
(Dilantik pada 16 Disember 2009/Appointed on 16 December 2009)
Pengerusi/Chairman
Ahli-ahli/Members
Y. Bhg. Dr. Ahmad Shahbari @ Sobri Salamon
Y. Bhg. Dato’ Mohamed Hassan Md. Kamil
Pengarah Urusan Kumpulan/Group Managing Director
Ahli-ahli/Members
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
(Bersara pada 14 Mei 2010/Retired on 14 May 2010)
Puan Rozaida Omar
Encik Mahadzir Azizan
Y. Bhg. Dato’ Sulaiman Mohd Yusof
Encik Johan Abdullah
Encik Zakaria Ismail
(Dilantik pada 15 Mei 2010/Appointed on 15 May 2010)
BADAN PENASIHAT SYARIAH/SHARIAH ADVISORY BODY
Y. Bhg. Ustaz Mohd. Bakir Hj. Mansor
Y. Bhg. Datuk Abdul Hamid Said
(Bersara pada 1 April 2011/Retired on 1 April 2011)
Y. Bhg. Dr. Aida Othman
Y. Bhg. Associate Professor Dr Muhamad Rahimi Osman
(Dilantik pada 12 Januari 2010/Appointed on 12 January 2010)
Setiausaha/Secretary
Encik Mohamad Asri Hj. Yusoff
JAWATANKUASA AUDIT/AUDIT COMMITTEE
Pengerusi/Chairman
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Puan Rozaida Omar
020
Maklumat Korporat
JAWATANKUASA PEMILIHAN/NOMINATION COMMITTEE
PENGURUSAN/MANAGEMENT
Pengerusi/Chairman
Pengarah Urusan Kumpulan/Group Managing Director
Encik Lee Kok Wah
Ketua Pegawai Kewangan/Chief Financial Officer
Puan Rozaida Omar
Puan Azian Kassim
Ketua Pegawai Pelaburan/Chief Investment Officer
Encik Nazrul Hisham Abdul Hamid
Ketua Pegawai Audit Dalaman/Chief Internal Auditor
JAWATANKUASA GANJARAN/REMUNERATION COMMITTEE
Encik Leem Why Chong
Pengurus Besar, Aktuari & Aktuari Dilantik/
General Manager, Actuarial & Appointed Actuary
Pengerusi/Chairman
Encik Mohd Suhaimi Ahmad
Pengurus Besar, Agensi Runcit/
General Manager, Retail Agency
Puan Shuhaibahtulaslamiah Hurmuzan
Pengurus Besar, Sumber Manusia/
General Manager, Human Resource
JAWATANKUASA PENGURUSAN RISIKO/
RISK MANAGEMENT COMMITTEE
Encik Patrick Wong Chang Yang
Ketua Pegawai Informasi/Chief Information Officer
Pengerusi/Chairman
Encik Mark Anthony Nathan
Pengurus Besar, Perancangan Korporat & Bancatakaful/
General Manager, Corporate Planning & Bancatakaful
Maklumat Korporat
KETUA PEGAWAI EKSEKUTIF BAGI SYARIKAT SUBSIDIARI/
CHIEF EXECUTIVE OFFICER OF SUBSIDIARY COMPANIES
Encik Izzuddin Tajudin
Ketua Pegawai Eksekutif, Asean Retakaful International (L) Ltd/
Chief Executive Officer, Asean Retakaful International (L) Ltd
JURUAUDIT/AUDITORS
KPMG Desa Megat & Co. (AF0759)
Chartered Accountants
Level 10, KPMG Tower
8, First Avenue
Bandar Utama
47800 Petaling Jaya
Selangor Darul Ehsan
Tel
: 603-7721 3388
Fax
: 603-7721 3399
PENDAFTAR/REGISTRAR
Symphony Share Registrars Sdn Bhd (378993-D)
Level 6, Symphony House
Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Selangor
Tel
: +603-7841 8000
Fax
: +603-7841 8151/52
Website: www.symphony.com.my
TEMPAT DITUBUHKAN DAN DOMISIL/
PLACE OF INCORPORATION AND DOMICILE
Malaysia
PENYENARAIAN BURSA/BURSA LISTING
PEJABAT BERDAFTAR/REGISTERED OFFICE
Tingkat 26, Blok Annex
Dataran Kewangan Darul Takaful
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel
: 603-2268 1984
Fax
: 603-2274 2864
Email : csu@takaful-malaysia.com.my
Website: takaful-malaysia.com.my
Pasaran Utama/Main Market
Bursa Malaysia Securities Berhad
021
022
Teamwork
Our dedication to teamwork is a testament of our
unity and our trust towards each other.
023
024
Pengerusi/
Chairman
Y. Bhg. Dato’ Paduka Ismee Ismail, berusia 46 tahun adalah
warganegara Malaysia dan telah dilantik sebagai Pengerusi
Bukan Eksekutif Bukan Bebas Takaful Malaysia pada 16
Disember 2009.
Y. Bhg. Dato’ Paduka Ismee Ismail, aged 46, is a Malaysian
citizen and was appointed to the Board on 16 December
2009 as a Non-Independent Non-Executive Chairman of
Takaful Malaysia.
Beliau adalah ahli fellow Chartered Institute of Management
Accountants (CIMA) dan ahli Institut Akauntan Malaysia
(MIA).
He is a fellow member of Chartered Institute of Management
Accountants (CIMA) and a member of the Malaysian Institute
of Accountants (MIA).
Beliau kini merupakan Pengarah Urusan Kumpulan dan
Ketua Pegawai Eksekutif Lembaga Tabung Haji. Sebelum
itu, beliau merupakan Ketua Pegawai Eksekutif ECM Libra
Securities Sdn Bhd dan Pengarah ECM Libra Capital Sdn Bhd.
Beliau juga pernah berkhidmat dengan beberapa organisasi
dalam pelbagai kapasiti antaranya selaku Pengurus Besar
Kanan Kewangan, Lembaga Tabung Haji; Ketua Akauntan
di Pengurusan Danaharta Nasional Berhad; Pengurus Besar
Pembangunan Perniagaan di Arab Malaysian Development
Berhad dan beberapa jawatan berkaitan kewangan di Shell
Malaysia Trading Sdn Bhd. Beliau juga adalah Pengarah BIMB
Holdings Berhad, Bank Islam Malaysia Berhad, TH Plantations
Berhad, KFC Holdings (Malaysia) Berhad dan beberapa
syarikat lain.
He is currently the Group Managing Director and Chief
Executive Officer of Lembaga Tabung Haji. Prior to that, he
was the Chief Executive Officer of ECM Libra Securities Sdn
Bhd and a Director of ECM Libra Capital Sdn Bhd. He has also
served several organisations in various capacities including
that of Senior General Manager of Finance, Lembaga Tabung
Haji; Chief Accountant at Pengurusan Danaharta Nasional
Berhad; General Manager of Business Development at Arab
Malaysian Development Berhad and has held several financerelated positions at Shell Malaysia Trading Sdn Bhd. He is
also a Director of BIMB Holdings Berhad, Bank Islam Malaysia
Berhad, TH Plantations Berhad, KFC Holdings (Malaysia)
Berhad and several other companies.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful
Malaysia dan tidak mempunyai percanggahan kepentingan
dengan Takaful Malaysia. Beliau tidak pernah disabitkan
dengan apa-apa kesalahan dalam tempoh sepuluh (10)
tahun yang lalu dan telah menghadiri sepuluh (10) mesyuarat
Lembaga Pengarah yang telah diadakan sepanjang lapan
belas (18) bulan tempoh kewangan berakhir 31 Disember
2010.
He has no family relationship with any other directors/
major shareholders of Takaful Malaysia and has no conflict
of interest with Takaful Malaysia. He has no conviction for
offences within the past ten (10) years and has attended ten
(10) Board of Director’s meetings held during the eighteen
(18) months financial period ended 31 December 2010.
025
Pengarah Urusan Kumpulan/
Group Managing Director
Y. Bhg. Dato’ Mohamed Hassan Md. Kamil, berusia 48 tahun,
adalah warganegara Malaysia dan dilantik ke Lembaga
Pengarah Takaful Malaysia pada 1 September 2006 sebagai
Pengarah Bukan Eksekutif Bukan Bebas. Beliau kini adalah
Pengarah Urusan Kumpulan bagi Takaful Malaysia sejak 1 April
2007. Beliau juga merupakan ahli Jawatankuasa Ganjaran,
Jawatankuasa Pemilihan dan Jawatankuasa Pengurusan
Risiko. Beliau juga merupakan Pengerusi Lembaga Komisaris
P.T. Syarikat Takaful Indonesia dan P.T. Asuransi Takaful
keluarga.
Beliau merupakan graduan Sarjana Muda Sains dalam
bidang Sains Aktuari dan Sarjana Pentadbiran Perniagaan
dari University of Iowa, USA. Beliau juga adalah Fellow of
the Society of Actuaries, USA, ahli American Academy of
Actuaries dan Chartered Life Underwriter.
Beliau telah bekerja di Amerika Syarikat sebagai Aktuari dari
tahun 1987 hingga 1994 sebelum pulang ke Malaysia sebagai
Timbalan Pengurus Besar di Malaysia National Insurance. Pada
tahun 1996, beliau menyertai ING Insurance Berhad (sebelum
ini dikenali sebagai Aetna Universal Insurance) sebagai Naib
Presiden Kanan dan Ketua Aktuari. Pada tahun 2004, beliau
menjadi Timbalan Pengurus Besar bagi P.T. AIA Indonesia.
Beliau merupakan Pengarah Eksekutif BIMB Holdings Berhad
mulai April 2006 hingga Mac 2007.
dengan apa- apa kesalahan dalam tempoh sepuluh (10) tahun
yang lalu dan telah menghadiri enam belas (16) mesyuarat
2010.
Y. Bhg. Dato’ Mohamed Hassan Md. Kamil, aged 48, is a
Malaysian citizen and was appointed to the Board of Takaful
Malaysia on 1 September 2006 as a Non-Independent
Non-Executive Director. He is currently the Group Managing
Director of Takaful Malaysia since 1 April 2007. He is a member
of the Remuneration Committee, Nomination Committee and
Risk Management Committee. He is also the Chairman of the
Board of Commissioners of P.T. Syarikat Takaful Indonesia
and P.T. Asuransi Takaful Keluarga.
He graduated with a Bachelor of Science degree in Actuarial
Science and Master in Business Administration from the
University of Iowa, USA. He is a Fellow of the Society of
Actuaries, USA, a member of the American Academy of
Actuaries and a Chartered Life Underwriter.
He worked in the United States as an Actuary from 1987
to 1994 prior to returning to Malaysia as Deputy General
Manager at Malaysia National Insurance. In 1996, he joined
ING Insurance Berhad (previously known as Aetna Universal
Insurance) as Senior Vice President and Chief Actuary. In
2004, he became the Deputy General Manager for P.T. AIA
Indonesia. He was an Executive Director of BIMB Holdings
Berhad from April 2006 until March 2007.
He has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. He has no conviction for offences within
the past ten (10) years and has attended sixteen (16) Board
of Directors’ meeting held during the eighteen (18) months
026
Puan Rozaida Omar
Puan Rozaida Omar, berusia 48 tahun, adalah warganegara
Malaysia dan telah dilantik sebagai Pengarah Bukan Eksekutif
Bukan Bebas Takaful Malaysia pada 15 Mei 2007. Beliau
juga merupakan ahli Jawatankuasa Audit dan Jawatankuasa
Pemilihan.
Puan Rozaida Omar, aged 48, is a Malaysian citizen and
is a Non-Independent Non-Executive Director of Takaful
Malaysia and was appointed to the Board on 15 May 2007.
She is also a member of the Audit Committee and Nomination
Committee.
Beliau adalah Akauntan Bertauliah (M) dan merupakan ahli
Association of Chartered Certified Accountants (ACCA)
United Kingdom sejak tahun 1986.
She is a Chartered Accountant (M) and a member of the
Association of Chartered Certified Accountants (ACCA)
United Kingdom since 1986.
Beliau memulakan kerjayanya sebagai Akauntan Kewangan
di FELDA pada tahun 1986. Pada tahun 1990, beliau menjadi
Pengurus Kredit di Citibank Berhad sehingga tahun 1991.
Beliau kemudiannya menyertai Guthrie Trading Sdn Bhd
pada tahun 1992 sebagai Pengurus Kewangan sehingga
tahun 1993. Selepas itu, beliau menjadi Pengarah Kewangan
di Glaxo SmithKline Consumer Healthcare Sdn Bhd dari tahun
1994 sehingga tahun 2003. Kini beliau adalah Ketua Pegawai
Kewangan Kumpulan di Lembaga Tabung Haji sejak tahun
2004. Beliau juga merupakan Pengarah Pelikan International
Corporation Berhad dan BIMB Holdings Berhad.
She started her career as a Financial Accountant at FELDA
in 1986. In 1990, she became a Credit Manager at Citibank
Berhad until 1991. She then joined Guthrie Trading Sdn Bhd in
1992 as a Finance Manager until 1993. After that, she became
a Finance Director of Glaxo SmithKline Consumer Healthcare
Sdn Bhd from 1994 until 2003. She is currently the Group
Chief Financial Officer of Lembaga Tabung Haji since 2004.
She is also a Director of Pelikan International Corporation
Berhad and BIMB Holdings Berhad.
dengan apa- apa kesalahan dalam tempoh sepuluh (10) tahun
yang lalu dan telah menghadiri tujuh belas (17) mesyuarat
2010.
She has no family relationship with any other directors/major
with Takaful Malaysia. She has no conviction for offences
within the past ten (10) years and has attended seventeen
(17) Board of Directors’ meeting held during the eighteen (18)
months financial period ended 31 December 2010.
027
Encik Mahadzir Azizan, berusia 62 tahun, adalah warganegara
Malaysia dan telah dilantik sebagai Pengarah Bukan Eksekutif
Bebas Takaful Malaysia pada 1 September 2007. Beliau juga
merupakan Pengerusi Jawatankuasa Audit dan Jawatankuasa
Ganjaran dan ahli Jawatankuasa Pengurusan Risiko. Beliau
juga merupakan ahli Lembaga Komisaris P. T. Asuransi
Takaful Keluarga.
Encik Mahadzir Azizan, aged 62, is a Malaysian citizen and is
an Independent Non-Executive Director of Takaful Malaysia
and was appointed to the Board on 1 September 2007. He is
also the Chairman of the Audit Committee and Remuneration
Committee and a member of Risk Management Committee.
He is also a member of the Board of Commissioners of P.T.
Asuransi Takaful Keluarga.
Beliau memperolehi kelulusan Barrister-At-Law dari Lincoln’s
Inn, London, United Kingdom dan diterima masuk ke English
Bar pada tahun 1978.
He is a Barrister-At-Law from Lincoln’s Inn, London, United
Kingdom and was called to the English Bar in 1978.
Beliau telah memegang pelbagai jawatan penting di dalam
sektor awam dan swasta. Selepas tamat pengajian, beliau
telah menyertai perkhidmatan Perundangan dan Kehakiman
Kerajaan Malaysia sebagai Timbalan Pendakwaraya Awam dan
Penasihat Undang-Undang. Beliau kemudiannya menyertai
sektor swasta dan berkhidmat di Malaysian International
Shipping Corporation (“MISC”) dan Island & Peninsular
Berhad, syarikat hartanah Permodalan Nasional Berhad
(“PNB” ) selama 24 tahun. Semasa di sektor swasta, beliau
juga telah berkhidmat sebagai Ahli Majlis MARA, Pengarah TH
Properties Sdn Bhd dan juga sebagai Pengarah di pelbagai
syarikat berkaitan Kerajaan. Kini, beliau merupakan Pengarah
ECM Libra Financial Group Berhad, ECM Libra Investment
Bank Berhad, Avenue Invest Berhad dan beberapa syarikat
lain.
dengan apa-apa kesalahan dalam tempoh sepuluh (10) tahun
2010.
He has held key positions both in private and public sector.
After graduation, he joined the Judicial and Legal Service of
the Malaysian Government as a Deputy Public Prosecutor
and Federal Counsel and subsequently ventured into the
private sector and served Malaysian International Shipping
Corporation (“MISC”) and Island & Peninsular Berhad, the
property arm of Permodalan Nasional Berhad (“PNB”) for
24 years. Whilst in the private sector, he also served as Ahli
Majlis MARA, Director of TH Properties Sdn Bhd as well as
various other directorships in government linked companies.
Currently, he is also a Director of ECM Libra Financial Group
Berhad, ECM Libra Investment Bank Berhad, Avenue Invest
Berhad and several other companies.
of Directors’ meeting held during the eighteen (18) months
028
Y. Bhg. Dato ’ Sulaiman Mohd Yusof
Pengarah Bukan Eksekutif Bebas /
Y. Bhg. Dato’ Sulaiman Mohd Yusof, berusia 60 tahun, adalah
warganegara Malaysia dan telah dilantik sebagai Pengarah
Bukan Eksekutif Bebas Takaful Malaysia pada 1 Januari 2008.
Beliau merupakan ahli Jawatankuasa Audit, Jawatankuasa
Pemilihan dan Jawatankuasa Pengurusan Risiko. Beliau juga
merupakan Pengerusi Asean Retakaful International (L) Ltd.
Y. Bhg. Dato’ Sulaiman Mohd Yusof, aged 60, is a Malaysian
citizen and is an Independent Non-Executive Director of
Takaful Malaysia and was appointed to the Board on 1 January
2008. He is a member of the Audit Committee, Nomination
Committee and Risk Management Committee. He is also the
Chairman of Asean Retakaful International (L) Ltd.
Beliau memperolehi Ijazah Sarjana Muda Undang-undang
(LLB) dari University of Buckingham, United Kingdom pada
tahun 1984 dan diterima masuk ke Malaysian Bar pada tahun
1986.
He graduated with a Bachelor of Law (LLB) degree from the
University of Buckingham, United Kingdom in 1984 and was
called to the Malaysian Bar in 1986.
Beliau memulakan kerjayanya sebagai Pelatih Wartawan
Kadet dengan Agensi Berita Bernama pada tahun 1969.
Seterusnya pada tahun yang sama, beliau menyertai Polis Di
Raja Malaysia. Beliau menjawat pelbagai jawatan dalam Polis
Di Raja Malaysia seperti Timbalan Superitendan Personel,
Setiausaha yang bertanggungjawab kepada Ketua Polis
Negara,Tun Haniff Omar, Pegawai Polis Daerah Sentul,
Alor Setar dan Sungai Petani dan Penolong Pesuruhjaya
Penyelidikan dan Perancangan di Bukit Aman. Pada tahun
2002, beliau menjadi Timbalan Pengarah Pengurusan
(Disiplin), Timbalan Pengarah Jabatan Narkotik pada tahun
2003, Ketua Polis Negeri Sembilan pada tahun 2004,
Timbalan Pengarah, Jabatan Siasatan Jenayah Komersial
pada tahun 2005 dan sebagai Ketua Polis Kuala Lumpur
pada tahun 2006 sehingga persaraan beliau. Pada bulan April
2007, beliau membuka syarikat guamannya sendiri, Sulaiman
& Saif. Beliau juga merupakan Pengarah AWC Berhad dan
beberapa syarikat sendirian berhad yang lain.
dengan apa-apa kesalahan dalam tempoh sepuluh tahun (10)
2010.
He started his career as a Cadet Reporter Trainee with
Bernama News Agency in 1969. Later in the same year, he
joined Royal Malaysia Police. He assumed various positions
at the Royal Malaysia Police such as Deputy Superintendent
of Personnel, Secretary responsible for the IGP, Tun Haniff
Omar, Police Officer for District of Sentul, Alor Setar and
Sungai Petani and Assistant Commissioner with Research
and Planning at Bukit Aman. In 2002, he became the Deputy
Director Management (Discipline), in 2003 as Deputy Director
Narkotics Department, in 2004 as the Chief Police Officer
Negeri Sembilan, in 2005 as Deputy Director Commercial
Crime Investigation Department and in 2006 as Chief Police
Officer of Kuala Lumpur until his retirement. In April 2007, he
started his own legal firm, Sulaiman & Saif. He is also a Director
of AWC Berhad and other private limited companies.
of Director’s meeting held during the eighteen (18) months
029
Encik Johan Abdulah
Pengarah Bukan Eksekutif Bukan Bebas /
Encik Johan Abdullah, berusia 54 tahun, adalah warganegara
Malaysia dan merupakan Pengarah Bukan Eksekutif Bukan
Bebas Takaful Malaysia dan telah dilantik pada 15 Ogos
2008. Beliau juga merupakan ahli Jawatankuasa Pemilihan,
Jawatankuasa Pengurusan Risiko dan Jawatankuasa
Ganjaran.
Beliau memperolehi Diploma Perbankan dari Universiti
Teknologi MARA, Shah Alam pada tahun 1983, Ijazah Sarjana
Muda Pentadbiran Perniagaan (Kewangan) dari Eastern
Michigan University, Michigan, USA pada tahun 1985 dan
Ijazah Sarjana Pentadbiran Perniagaan (Kewangan) dari
Morehead State University, Kentucky, USA pada tahun 1986.
Beliau memulakan kerjaya profesionalnya pada tahun 1987
di Kuala Lumpur Stock Exchange (sekarang ini dikenali
sebagai Bursa Malaysia Securities Berhad) sebagai Pegawai
Penyenaraian. Pada tahun 1989, beliau menyertai bahagian
Kewangan Korporat di Bumiputra Merchant Bankers Berhad
dan meletak jawatan pada awal tahun 1995 sebagai Pengurus
Kanan. Beliau kemudiannya menyertai Damansara Realty
Berhad sebagai Pengurus Besar, Perancangan Korporat.
Seterusnya pada tahun 1999, beliau menyertai semula Bursa
Malaysia Securities Berhad dan telah memegang pelbagai
jawatan kanan termasuk Deputy Chief Regulatory Officer,
Group Regulation. Pada bulan Mei 2008, beliau menyertai
BIMB Holdings Berhad (“BHB”) sebagai Pengarah Urusan
Kumpulan/Ketua Pegawai Eksekutif. Beliau juga merupakan
Pengarah Bank Islam Malaysia Berhad dan anak-anak syarikat
di dalam kumpulan BHB.
dengan apa- apa kesalahan dalam tempoh sepuluh tahun (10)
2010.
Encik Johan Abdullah, aged 54, is a Malaysian citizen and is a
Non-Independent Non-Executive Director of Takaful Malaysia
and was appointed to the Board on 15 August 2008. He is also
a member of the Nomination Committee, Risk Management
Committee and Remuneration Committee.
He obtained a Diploma in Banking from University
Technology MARA, Shah Alam in 1983, a Bachelor of Business
Administration (Finance) from Eastern Michigan University,
Michigan, USA in 1985 and a Master in Business Administration
(Finance) from Morehead State University, Kentucky, USA in
1986.
He started his professional career in 1987 with Kuala Lumpur
Stock Exchange (currently known as Bursa Malaysia Securities
Berhad) as Listing Officer. In 1989, he joined Corporate
Finance division of Bumiputra Merchant Bankers Berhad and
left the bank in early 1995 as Senior Manager. Later he joined
Damansara Realty Berhad as General Manager, Corporate
Planning. Subsequently in the year 1999, he re-joined Bursa
Malaysia Securities Berhad and took up various senior
positions including that of Deputy Chief Regulatory Officer,
Group Regulation. In May 2008, he joined BIMB Holdings
Berhad (“BHB”) as Group Managing Director/Chief Executive
Officer. He is also a director of Bank Islam Malaysia Berhad
and other subsidiaries within BHB Group.
of Director’s meeting held during the eighteen (18) months
030
Pengarah Bukan Eksekutif Bebas /
Encik Zakaria Ismail, berusia 59 tahun, adalah warganegara
Malaysia dan merupakan Pengarah Bukan Eksekutif Bebas
Takaful Malaysia dan telah dilantik pada 15 Mei 2010.
Beliau merupakan Pengerusi Jawatankuasa Pemilihan dan
Jawatankuasa Pengurusan Risiko dan ahli Jawatankuasa Audit
dan Jawatankuasa Ganjaran.
Encik Zakaria Ismail, aged 59, is a Malaysian citizen and
is an Independent Non-Executive Director of Takaful
Malaysia and was appointed to the Board on 15 May 2010.
He is the Chairman of the Nomination Committee and Risk
Management Committee and a member of Audit Committee
and Remuneration Committee.
Beliau memperolehi Ijazah Sarjana Muda Ekonomi (Kepujian)
dari Universiti Malaya pada tahun 1974 dan Sarjana Pentadbiran
Perniagaan dan Sarjana Sastera dalam Ekonomi dari Universiti
Boston, Amerika Syarikat, masing-masing pada tahun 1981 dan
1983. Beliau juga merupakan ahli bersekutu The Institute of
Bankers, London.
He obtained his Bachelor of Economics (Honours) from
the University of Malaya in 1974, and Master in Business
Administration and Master of Arts in Economics from Boston
University, USA in 1981 and 1983 respectively. He is also an
associate of The Institute of Bankers, London.
Beliau memulakan kerjayanya di Bank Negara Malaysia pada
tahun 1974 dan memegang pelbagai jawatan seperti Eksekutif
Kanan, Penyeliaan Perbankan; Setiausaha Sulit, Pejabat
Gabenor, Eksekutif Kanan, Ekonomi; Penolong kepada Pengarah
Eksekutif, South East Asia Group IMF, di Washington, D.C
Amerika Syarikat; Pengurus, Ekonomi; Pengurus, Penyeliaan
Perbankan, Timbalan Pengarah, Pelaburan; Timbalan Pengarah,
Penyeliaan Perbankan; Pengarah, Penyeliaan Perbankan;
Pengarah, Penyeliaan Insurans dan Pengarah, Pengawalan
Insurans. Beliau merupakan Pengarah Urusan di Entrepreneurs
Rehabilitation Fund pada tahun 2002 sehingga 2004 dan
merupakan Pengarah Latihan dan Pentadbiran di The South
East Asian Central Banks Research and Training Centre pada
tahun 2004 sehingga persaraan beliau pada tahun 2007.
Beliau juga merupakan ahli Lembaga Pengarah di Malaysian
Insurance Institute (MII) dan ahli EXCO MII dari tahun 2000
sehingga 2002. Kini, beliau merupakan ahli lembaga Pengarah
Export-Import Bank of Malaysia Berhad.
dengan apa- apa kesalahan dalam tempoh sepuluh tahun (10)
yang lalu dan telah menghadiri enam (6) mesyuarat Lembaga
Pengarah yang telah diadakan sepanjang lapan belas (18)
bulan tempoh kewangan berakhir 31 Disember 2010.
He started his career with Bank Negara Malaysia (BNM) in
1974 and assumed various positions such as Senior Executive,
Banking Supervision; Private Secretary, Office of the Governor;
Senior Executive, Economics; Assistant to the Executive
Director, South East Asia Group IMF, in Washington, D.C. USA;
Manager, Economics; Manager, Banking Supervision; Deputy
Director, Investment; Deputy Director, Banking Supervision;
Director, Banking Supervision; Director, Insurance Supervision
and Director, Insurance Regulation. He was seconded to the
Entrepreneurs Rehabilitation Fund as its Managing Director
in 2002 until 2004 and then was seconded to The South
East Asian Central Banks Research and Training Centre as
its Director of Training and Administration from 2004 until
his retirement in 2007. He was also a Board member of the
Malaysian Insurance Institute (MII) and member of the EXCO
of MII from 2000 until 2002. Currently, he is also a Board
member of Export-Import Bank of Malaysia Berhad.
He has no family relationship with any other directors/
major shareholders of Takaful Malaysia and has no conflict
of interest with Takaful Malaysia. He has no conviction for
offences within the past ten (10) years and has attended six
(6) Board of Director’s meeting held during the eighteen (18)
months financial period ended 31 December 2010.
Y. Bhg. Dr. Ahmad Shahbari @ Sobri Salamon berusia 68 tahun,
adalah warganegara Malaysia dan merupakan Pengerusi Badan
Penasihat Syariah (BPS) Takaful Malaysia yang telah dilantik
pada 1 Julai 1985.
Y. Bhg. Dr. Ahmad Shahbari @ Sobri Salamon, aged 68, is a
Malaysian citizen and is the Chairman of the Shariah Advisory
Body (SAB) of Takaful Malaysia who was appointed on 1 July
1985.
Beliau memperolehi Ijazah Sarjana Muda Sastera dalam
Syariah, dari Universiti Al–Azhar, Mesir pada tahun 1970,
Sarjana Sastera dalam Pengajian Antarabangsa dari Universiti
Fairleigh Dickenson, Amerika Syarikat pada tahun 1973 dan
kemudian melanjutkan pengajian di peringkat Ijazah Doktor
Falsafah dalam Sejarah di Universiti NewYork, Amerika Syarikat
pada tahun 1979.
He graduated with a Bachelor of Arts degree in Shariah from
the University of Al-Azhar, Egypt in 1970, a Master of Arts in
International Studies from Fairleigh Dickenson University, USA
in 1973 and a Doctor of Philosophy in History from New York
University, USA in 1979.
Beliau memulakan kerjayanya pada tahun 1978 sebagai
Pensyarah di Jabatan Syariah, Fakulti Pengajian Islam,
Universiti Kebangsaan Malaysia (UKM) sebelum dipinjamkan
ke Universiti Islam Antarabangsa (UIAM) dari tahun 1983
hingga 1984. Semasa di UKM, beliau telah dilantik sebagai
Penyelaras bagi Pendidikan Umum dari tahun 1981 hingga 1982.
Pada tahun 1982, beliau berkhidmat sebagai Pemangku Ketua
Jabatan Syariah. Beliau juga merupakan Penyelaras Program
Diploma dan Sijil Pengajian Islam UKM sehingga tahun 1983.
Beliau kembali ke UKM pada tahun 1984 sebagai Pensyarah
di Jabatan Syariah sehingga tahun 1985. Kemudian beliau
menjadi Pengarah Eksekutif Pusat Rawatan Islam (MAIS) dari
tahun 1996 hingga 1999. Kini, beliau merupakan Pengerusi
Pusrawi Corporation Sdn Bhd.
Beliau telah menghasilkan tulisan dalam bidang pendidikan,
ekonomi, perbankan Islam dan perundangan Islam sebanyak 12
buah buku, 7 jilid terjemahan, 300 skrip tv dan 40 kertas kerja.
Beliau juga dianugerahkan sebagai ‘Tokoh Ulamak Bestari
Negeri Selangor’ pada tahun 2000, ‘Tokoh Ma’al Hijrah Negeri
Selangor’ pada tahun 2001 dan Ahli Majlis Agama Islam Negeri
Selangor selama 21 tahun.
He started his career in 1978 as a Lecturer at the Shariah
Department, Faculty of Islamic Studies, Universiti Kebangsaan
Malaysia (UKM) prior to his secondment to the International
Islamic University Malaysia (IIUM) from 1983 to 1984. Whilst
with UKM, he was appointed as the Coordinator for the General
Teachings from 1981 to 1982. In 1982, he served as the Acting
Head of the Shariah Department. He was also the Programme
Coordinator for Diploma and Certificate in Islamic Studies of
UKM until 1983. He returned to UKM in 1984 as a Lecturer in the
Shariah Department until 1985. He then became an Executive
Director of Pusat Rawatan Islam (MAIS) from 1996 to 1999. At
present, he is the Chairman of Pusrawi Corporation Sdn Bhd. He has produced writings in educational, economy, Islamic
banking and Islamic law, a total of 12 books, 7 translation
bindery, 300 tv scripts and 40 paper works. He was also
awarded ‘Tokoh Ulamak Bestari Negeri Selangor’ in 2000,
‘Tokoh Ma’al Hijrah Negeri Selangor’ in 2001 and a member of
Religious Council of Selangor State for 21 years.
031
032
Y. Bhg. Ustaz Mohd Bakir Hj. Mansor
Y. Bhg. Ustaz Mohd Bakir Hj. Mansor, berusia 74 tahun, adalah
warganegara Malaysia dan merupakan ahli Badan Penasihat
Syariah (BPS) Takaful Malaysia yang telah dilantik pada 1 Julai
2002.
Beliau memperolehi Shahadah Ulya (Sijil Tertinggi) dari Kolej
Islam Malaya pada tahun 1967.
Beliau telah memulakan kerjayanya sebagai guru sementara
di Madrasah Mashhoor Islamiyah, Pulau Pinang dari tahun
1967 hingga 1970. Beliau kemudiannya berkhidmat sebagai
Pegawai Penerangan sementara di Majlis Kebangsaan Hal
Ehwal Agama Islam Malaysia mulai tahun 1971 hingga 1973;
sebagai Pegawai Hal Ehwal Islam di Bahagian Hal Ehwal Islam,
Jabatan Perdana Menteri dari tahun 1973 hingga 1977; sebagai
Pegawai Perancangan Pendidikan Ugama di Jabatan Kemajuan
Masyarakat, Kementerian Pertanian dari tahun 1978 hingga
1980; sebagai Penolong Pengarah Dokumentasi di Bahagian
Hal Ehwal Islam, Jabatan Perdana Menteri mulai tahun 1980
hingga 1981 dan sebagai seorang Ketua Penolong Pengarah
Pusat Penyelidikan Islam dari tahun 1981 hingga 1984. Beliau
kemudiannya berkhidmat dengan Bank Islam Malaysia Berhad
sebagai Koordinator Syariah merangkap Setiausaha Majlis
Pengawasan Syariah untuk Bank-bank dari tahun 1984 hingga
2001. Beliau pernah berkhidmat sebagai Internal Research
Fellow for Centre of Fiqh Muamalat di Institut Perbankan dan
Kewangan Islam Malaysia (IBFIM) dari 2 Januari 2001 hingga
30 Jun 2009.
Beliau kini merupakan Distinguished Shariah Advisor for
Centre of Fiqh Muamalat berkuatkuasa dari 1 Julai 2009.
Beliau juga adalah ahli Majlis Pengawasan Syariah Bank Islam
Malaysia Berhad, ahli Jawatankuasa Panel Syariah Amanah
Ikhtiar Malaysia, Pengerusi Jawatankuasa Penasihat Syariah
BIMB Securities Sdn Bhd, Pengerusi Jawatankuasa Penasihat
Syariah Persatuan Institusi Perbankan Islam Malaysia dan
Pengerusi Jawatankuasa Penasihat Syariah Kumpulan Wang
Simpanan Pekerja. Sebelum dilantik sebagai ahli BPS Takaful
Malaysia pada 1 Julai 2002, beliau adalah Setiausaha BPS
Takaful Malaysia sejak ia ditubuhkan pada tahun 1985 hingga
Disember 2001.
Y. Bhg. Ustaz Mohd Bakir Hj. Mansor, aged 74, is a Malaysian
citizen and is a member of the Shariah Advisory Body (SAB) of
Takaful Malaysia who was appointed on 1 July 2002.
He obtained the Shahadah Ulya (Highest Certificate) from
Kolej Islam Malaya in 1967.
He started his career as a temporary teacher at Madrasah
Mashhoor Islamiyah, Pulau Pinang from 1967 to 1970. He then
served as a temporary Information Officer at the National
Council for Islamic Religious Affairs Malaysia from 1971 to 1973;
as an Islamic Affairs Officer at the Islamic Affairs Division, the
Prime Minister’s Department from 1973 to 1977; as the Religious
Education Planning Officer at Development Community
Department, Ministry of Agriculture from 1978 to 1980; as
an Assistant Documentation Director at the Islamic Affairs
Division, the Prime Minister’s Department from 1980 to 1981 and
as a Chief Assistant Director of Islamic Research Centre from
1981 to 1984. He then served at Bank Islam Malaysia Berhad
as Shariah Coordinator cum Secretary to the Bank’s Shariah
Supervisory Council from 1984 to 2001. He was previously
an Internal Research Fellow for Centre of Fiqh Muamalat at
Islamic Banking and Finance Institute Malaysia (IBFIM) from 2
January 2001 until 30 June 2009.
He is currently a Distinguished Shariah Advisor for Centre
of Fiqh Muamalat effective from 1 July 2009. He is also a
member of the Shariah Supervisory Council of Bank Islam
Malaysia Berhad, a member of the Shariah Panel of Amanah
Ikhtiar Malaysia, the Chairman of Shariah Advisory Committee
of BIMB Securities Sdn Bhd, the Chairman of the Shariah
Advisory Committee of the Association of Islamic Banking
Institutions Malaysia and the Chairman of the Shariah Advisory
Committee of the Employees Provident Fund. Before being
appointed as a member of SAB of Takaful Malaysia on 1 July
2002, he was the Secretary of SAB of Takaful Malaysia since its
inception in 1985 to December 2001.
033
Y. Bhg. Dr. Aida Othman berusia 41 tahun, adalah warganegara
Malaysia dan merupakan ahli Badan Penasihat Syariah (BPS)
Takaful Malaysia yang telah dilantik pada 6 Mac 2008.
Y. Bhg. Dr. Aida Othman aged 41, is a Malaysian citizen and
is a member of the Shariah Advisory Body (SAB) of Takaful
Malaysia who was appointed on 6 March 2008.
Beliau memperolehi Ijazah Sarjana Muda Undang-undang
(LL.B) dari Universiti Islam Antarabangsa pada tahun 1992
dan Ijazah Sarjana Muda Undang-undang (LL.B Syariah) pada
tahun 1993. Pada tahun 1995, beliau memperolehi Sarjana
Undang-undang (LL.M) dari Universiti Cambridge, England
dan pada tahun 2005 beliau memperolehi Doktor Falsafah dari
Universiti Harvard, Amerika Syarikat. Beliau juga memperolehi
PostDoctorate Fellowship dari Universiti Harvard pada tahun
2006.
She graduated from the International Islamic University
Malaysia with a Bachelor of Law (LL.B) degree in 1992 and a
Bachelor of Law (LL.B Shariah) degree in 1993. In 1995, she
obtained Master in Law (LL.M) from the Cambridge University,
England and in 2005, she obtained a Doctor of Philosophy from
the Harvard University, USA. She also obtained PostDoctorate
Fellowship from the Harvard University in 2006.
Beliau memulakan kerjayanya dengan Tetuan Zain & Co. pada
tahun 1993 sebagai Penolong Pegawai Undang Undang. Pada
tahun 1995, beliau menyertai Universiti Islam Antarabangsa
sebagai Pensyarah. Kemudian beliau menjadi Penyelidik di
United Nations dari tahun 1998 hingga 1999. Pada tahun 2002,
beliau berkhidmat di Universiti Harvard sebagai Teaching
Fellow sehingga tahun 2003 dan PostDoctorate Fellow dan
Teaching Assistant dari tahun 2005 hingga 2006.
Beliau kini merupakan Rakan kongsi di firma guaman Zaid
Ibrahim & Co. dan juga sebagai Pengarah di ZI Shariah Advisory
Sdn Bhd.
She started her career with Messrs. Zain & Co. in 1993 as
Assistant Legal Officer. In 1995, she joined International Islamic
University Malaysia as a Lecturer. After that, she became a
Researcher at United Nations from 1998 until 1999. In 2002,
she joined the Harvard University as Teaching Fellow until
2003 and PostDoctorate Fellow and Teaching Assistant from
2005 until 2006.
Currently she is a Partner at the law firm, Zaid Ibrahim & Co. as
well as a Director at ZI Shariah Advisory Sdn Bhd.
034
Y. Bhg. Prof Madya Dr. Muhamad Rahimi Osman
Y. Bhg. Prof Madya Dr Muhamad Rahimi Osman, berusia 49
tahun, adalah warga negara Malaysia dan merupakan ahli
Badan Penasihat Syariah (BPS) Takaful Malaysia yang telah
dilantik pada 12 Januari 2010.
Y. Bhg. Assoc Prof Dr Muhamad Rahimi Osman, aged 49, is a
Malaysian citizen and is a member of Syariah Advisory Body
(SAB) of Takaful Malaysia who was appointed on 12 January
2010.
Berkelulusan Ijazah Sarjana Muda Shari’ah (Hons) dari Universiti
Malaya pada tahun 1987, Ijazah Sarjana dalam Ekonomi Islam
dari Yarmouk University, Jordan dan Doktor Falsafah (PhD)
dalam Perbankan Islam dari Universiti Islam Antarabangsa
Malaysia masing-masing pada tahun 1996 dan 2007. Pada
masa ini memegang jawatan Pengarah, Pusat Pemikiran dan
Kefahaman Islam (CITU), Universiti Teknologi MARA (UiTM),
Shah Alam.
He graduated from University of Malaya in 1987, holding
Bachelor of Shariah (Hons). He obtained his Master in Islamic
Economics from University of Yarmouk, Jordan and Doctor
of Philosophy (PhD) in Islamic Banking from International
Islamic University Malaysia in 1996 and 2007 respectively.
Currently he is Director of the Centre for Islamic Thought and
Understanding (CITU), Universiti Teknologi MARA (UiTM).
Beliau memulakan kerjayanya sebagai pensyarah di Pusat
Pendidikan Islam, Universiti Teknologi MARA (UiTM), Shah Alam
pada tahun 1988. Beliau telah dilantik memegang beberapa
jawatan pentadbiran seperti Koordinator Sains Sosial Islam,
Ketua Unit Zakat, Timbalan Pengarah, Pusat Pemikiran dan
Kefahaman Islam (CITU) dan Pengarah, Institut Kajian Zakat
Malaysia (IKaZ), Universiti Teknologi MARA.
Beliau juga adalah ahli Jawatankuasa Penasihat Syariah, Hong
Leong Islamic Bank Malaysia, ahli jawatankuasa Penyelaras
Kurikulum Program Muamalat, Takaful, Kewangan dan
Perbankan Islam, Kementerian Pengajian Tinggi Malaysia, Ahli
Senat Universiti dan ahli Majlis Dekan Pengajian Islam, Institusi
Pengajian Tinggi Awam Malaysia dan beberapa jawatankuasa
lain di dalam dan luar universiti.
Beliau juga telah menulis dan membentangkan kertas kerja di
peringkat nasional dan antarabangsa dan terlibat menjalankan
penyelidikan dalam bidang ekonomi, perbankan dan kewangan
Islam. Artikel beliau juga telah diterbitkan dalam jurnal
tempatan dan antarabangsa.
He joined Universiti Teknologi MARA (UiTM) in 1988 as an
academic staff at the Centre for Islamic Education. He was
appointed to several administration posts such as Coordinator
of Islamic Social Science, Head of Zakat Unit, Deputy Director,
Centre for Islamic Thought and Understanding (CITU), and
Director of the Zakat Research Institute of Malaysia (IKaZ),
Universiti Teknologi MARA.
He also serves as a member of Shariah Committee of Hong
Leong Islamic Bank Malaysia, member of the Curriculum
Review Committee for Muamalat, Takaful, Islamic Banking and
Finance of the Ministry of Higher Education Malaysia, member
of the Senate University, and member of the Dean Council of
Islamic Studies, Higher Learning Institutions of Malaysia and
several other committees inside and outside of the university.
He has written and presented papers at national and
international seminar related to Islamic economics, Islamic
banking and finance. His articles have also been published in
local and international journals.
035
Pengarah Urusan Kumpulan/
Group Managing Director
Encik Lee Kok Wah
Ketua Pegawai Kewangan/
Chief Financial Officer
Puan Azian Kassim
Ketua Pegawai Pelaburan/
Chief Investment Officer
Encik Nazrul Hisham Abdul Hamid
Ketua Pegawai Audit Dalaman/
Chief Internal Auditor
Encik Leem Why Chong
Pengurus Besar, Aktuari & Aktuari Dilantik/
General Manager, Actuarial & Appointed Actuary
036
Encik Mohd Suhaimi Ahmad
Pengurus Besar, Agensi Runcit/
General Manager, Retail Agency
Puan Shuhaibahtulaslamiah Hurmuzan
Pengurus Besar, Sumber Manusia/
General Manager, Human Resource
Encik Patrick Wong Chang Yang
Ketua Pegawai Informasi/
Chief Information Officer
Encik Mark Anthony Nathan
Pengurus Besar, Perancangan Korporat & Bankatakaful/
General Manager, Corporate Planning & Bancatakaful
Encik Mohamad Asri Hj. Yusoff
Setiausaha Syarikat/Pengurus Besar, Hal Ehwal Korporat/
Company Secretary/General Manager, Corporate Affairs
037
Encik Alex Tan Cheng Leong
Ketua Pegawai Pemasaran/
Chief Marketing Officer
Puan Noraini Yusof
Penolong Pengurus Besar, Korporat Langsung/Perbendaharaan/Jualan Cawangan/
Assistant General Manager, Direct Corporate/Treasury/Branch Sales
Puan Roszy Non
Penolong Pengurus Besar, Perkhidmatan Pelanggan/Operasi Cawangan/
Assistant General Manager, Customer Service/Branch Operations
Puan Zarina Mohd Sahim
Penolong Pengurus Besar, Operasi - Takaful Am/Retakaful/
Assistant General Manager, Operations - General Takaful/Retakaful
Cik Leong Chee Wan
Penolong Pengurus Besar, Operasi - Takaful Keluarga/Bankatakaful/Logistik/
Assistant General Manager, Operations - Family Takaful/Bancatakaful/Logistics
038
Humanitarian
Our promise to the community is the pledge
of our compassion and care.
039
040
Laporan Jawatankuasa Audit
Lembaga Pengarah Syarikat Takaful Malaysia Berhad (“Takaful
Malaysia”) dengan berbesar hati membentangkan Laporan
Jawatankuasa Audit bagi tahun kewangan yang dikaji.
Jawatankuasa Audit (“Jawatankuasa”) telah ditubuhkan pada
6 Mac 1990 untuk menilai struktur kewangan, sistem kawalan
dalaman, perancangan strategik, pelaksanaan fungsi audit
Takaful Malaysia dan untuk mencadangkan keputusan yang
boleh dilaksanakan bagi memastikan piawaian tanggungjawab
korporat, kewibawaan dan kebertanggungjawaban kepada
para pemegang saham yang tinggi, selaras dengan piawaian
urus tadbir dan pendedahan yang dikehendaki daripada
sebuah syarikat senarai awam di Malaysia.
The Board of Directors of Syarikat Takaful Malaysia Berhad
(“Takaful Malaysia”) is pleased to present the Audit
Committee Report for the financial year under review. The
Audit Committee (“Committee”) was established on 6 March
1990 to appraise Takaful Malaysia’s financial structure,
internal control system, strategic planning, implementation
of audit function and to propose applicable decisions in
ensuring a high standard of corporate responsibility, integrity
and accountability to shareholders in line with the corporate
governance and disclosure standards expected from that of
a public listed company in Malaysia.
MEMBERSHIP AND MEETINGS
KEAHLIAN DAN MESYUARAT
Jawatankuasa terdiri daripada empat (4) orang ahli, tiga (3)
daripada mereka adalah Pengarah Bukan Eksekutif Bebas.
Maklumat terperinci mengenai ahli dan mesyuarat yang
diadakan sepanjang lapan belas (18) bulan tempoh kewangan
berakhir 31 Disember 2010 adalah seperti berikut:
The Committee currently comprises four (4) members, three
(3) of whom are Independent Non-Executive Directors. The
details of members and meetings held during the eighteen
(18) months financial period ended 31 December 2010 are as
follows:
Nama Ahli
Jawatankuasa Audit
Name of Audit Committee Members No. of Meetings
Held Attended
Bil. Mesyuarat
Diadakan
Dihadiri
Encik Mahadzir Azizan (Pengerusi) (Pengarah Bukan Eksekutif Bebas)
9
9
Encik Mahadzir Azizan (Chairman) (Independent Non-Executive Director)
9
9
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
(Pengarah Bukan Eksekutif Bebas)
(Bersara pada 14 Mei 2010)
5*
5*
(Independent Non-Executive Director)
(Retired on 14 May 2010)
5* 5*
Puan Rozaida Omar (Pengarah Bukan Eksekutif Bukan Bebas)
9
9
Puan Rozaida Omar 9
(Non-Independent Non-Executive Director)
9
Y. Bhg. Dato’ Sulaiman Mohd Yusof (Pengarah Bukan Eksekutif Bebas)
9
8
Y. Bhg. Dato’ Sulaiman Mohd Yusof (Independent Non-Executive Director)
9
8
(Pengarah Bukan Eksekutif Bebas)
(Dilantik pada 15 Mei 2010)
4*
4*
4*
(Independent Non-Executive Director)
(Appointed on 15 May 2010)
4*
Nota: * Menunjukkan bilangan mesyuarat yang diadakan dan
dihadiri sepanjang tempoh Pengarah memegang jawatan
sebagai Ahli Jawatankuasa Audit.
Puan Rozaida Omar adalah ahli Institut Akauntan Malaysia
(“MIA”). Oleh itu, Takaful Malaysia telah mematuhi Perenggan
15.09(1)(c)(i) Keperluan Penyenaraian Pasaran Utama
(“Keperluan Penyenaraian”) Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) yang menggariskan bahawa sekurangkurangnya seorang (1) ahli Jawatankuasa mestilah merupakan
ahli MIA.
Note: * Reflects the number of meetings held and attended
during the time the Director held office as Audit Committee
member.
Puan Rozaida Omar is a member of the Malaysian Institute
of Accountants (“MIA”). Thus, Takaful Malaysia complies
with Paragraph 15.09 (1)(c)(i) of the Main Market Listing
Requirements (“Listing Requirements”) of Bursa Malaysia
Securities Berhad (“Bursa Malaysia”) which stipulate that at
least one (1) member of the Committee must be a member
of the MIA.
041
Jawatankuasa telah bermesyuarat sebanyak sembilan (9)
kali sepanjang lapan belas (18) bulan tempoh kewangan ini.
Mesyuarat tersebut telah disusun dan dijalankan dengan
sewajarnya melalui penggunaan agenda yang diedarkan
kepada ahli terlebih dahulu dengan notis yang mencukupi.
Pengarah Urusan Kumpulan, Ketua Pegawai Kewangan
dan Ketua Audit Dalaman selalunya menghadiri mesyuarat
tersebut. Sepanjang lapan belas (18) bulan tempoh kewangan
berakhir 31 Disember 2010, Pengarah Urusan Kumpulan, Ketua
Pegawai Kewangan dan Ketua Audit Dalaman menghadiri
kesemua mesyuarat yang diadakan.
The Committee met nine (9) times during the eighteen (18)
months financial period. The meetings were appropriately
structured and conducted through the use of agenda which
were distributed to members with sufficient notification.
The Group Managing Director, the Chief Financial Officer
and the Chief Internal Auditor normally attend the meetings.
During the eighteen (18) months financial period ended 31
December 2010, the Group Managing Director, the Chief
Financial Officer and the Chief Internal Auditor attended all
the meetings held.
TERM OF REFERENCE
TERMA RUJUKAN
Komposisi
Ahli Jawatankuasa hendaklah dilantik oleh Lembaga Pengarah
daripada kalangan mereka dan hendaklah terdiri daripada
sekurang-kurangnya tiga (3) orang ahli, di mana kesemuanya
hendaklah terdiri dari Pengarah Bukan Eksekutif dengan
majoritinya adalah Pengarah Bebas. Seorang Pengarah Bukan
Eksekutif Bebas hendaklah merupakan ahli yang memenuhi
keperluan seperti yang diperuntukkan dalam Keperluan
Penyenaraian Bursa Malaysia dan garis panduan Bank Negara
Malaysia (“BNM”).
Sekurang-kurangnya seorang (1) ahli Jawatankuasa:
1) mestilah merupakan ahli MIA; atau
2) jika beliau bukan ahli MIA, beliau mestilah mempunyai
pengalaman bekerja sekurang-kurangnya selama tiga (3) tahun dan:
(a) beliau mestilah lulus peperiksaan yang dinyatakan
dalam Bahagian I Jadual Pertama Akta Akauntan
1967; atau
(b) beliau mestilah merupakan ahli salah sebuah
persatuan akauntan yang dinyatakan dalam Bahagian
II Jadual Pertama Akta Akauntan 1967; atau
3) memenuhi keperluan-keperluan lain yang digariskan atau
diluluskan oleh Bursa Malaysia.
Ahli Jawatankuasa hendaklah melantik Pengerusi daripada
kalangan mereka yang merupakan seorang Pengarah Bukan
Eksekutif Bebas. Sekiranya seorang ahli Jawatankuasa
meletak jawatan, meninggal dunia atau atas sebarang sebab
tidak lagi menjadi ahli sehingga menyebabkan bilangan ahli
kurang daripada tiga (3) orang, maka Lembaga Pengarah
hendaklah melantik ahli baru dalam bilangan yang diperlukan
untuk mencukupkan bilangan minimum ahli kepada tiga
(3) orang dalam tempoh tiga (3) bulan dari peristiwa
tersebut. Pengarah gantian tidak boleh dilantik sebagai ahli
Jawatankuasa.
Lembaga Pengarah hendaklah mengkaji semula tempoh
perkhidmatan dan prestasi Jawatankuasa Audit dan setiap
ahlinya sekurang-kurangnya setiap tiga (3) tahun sekali bagi
memastikan Jawatankuasa dan ahlinya telah menjalankan
tugas-tugas mereka berdasarkan terma rujukan.
Composition
The members of the Committee shall be appointed by the
Board from amongst their numbers and shall comprise at
least three (3) members, all of whom must be Non-Executive
Directors with majority of them shall be Independent
Directors. An Independent Non-Executive Director shall be
the one who fulfils the requirements as provided in the Bursa
Malaysia Listing Requirements and the guidelines of Bank
Negara Malaysia (“BNM”).
At least one (1) member of the Committee:
1) must be a member of the MIA; or
2) if he is not a member of the MIA, he must have at least
three (3) years’ working experience and:
(a) he must have passed the examinations specified in
Part I of the 1st Schedule of the Accountants Act
1967; or
(b) he must be a member of one of the associations of
accountants specified in Part II of the 1st Schedule of
the Accountants Act 1967; or
3) fulfils such other requirements as prescribed or approved
by Bursa Malaysia.
The members of the Committee shall elect a Chairman from
amongst their numbers who shall be an Independent NonExecutive Director. If a member of the Committee resigns,
dies or for any reason ceases to be a member with the result
that the number of members are reduced below three (3),
the Board shall within three (3) months of that event, appoint
such number of new members as may be required to make
up the minimum number of three (3) members. No alternate
Director can be appointed as a member of the Committee.
The Board shall review the term of office and performance of
the Committee and each of its members at least once every
three (3) years to ensure the Committee and members have
carried out their duties in accordance with their terms of
reference.
042
Korum dan Prosedur Jawatankuasa
Mesyuarat hendaklah diadakan sekurang-kurangnya empat
(4) kali setahun atau dengan lebih kerap, mengikut keperluan.
Bagi membentuk korum mesyuarat, majoriti ahli yang hadir
mestilah merupakan Pengarah Bukan Eksekutif Bebas.
Sekiranya Pengerusi tidak hadir, ahli-ahli yang hadir hendaklah
melantik seorang Pengerusi bagi mesyuarat tersebut daripada
kalangan ahli-ahli yang hadir.
Setiausaha Syarikat hendaklah bertindak sebagai Setiausaha
Jawatankuasa. Atas persetujuan Pengerusi, Setiausaha
hendaklah merangka agenda yang akan diedarkan kepada
ahli Jawatankuasa bersama-sama dengan kertas sokongan
yang berkaitan dalam tempoh yang berpatutan sebelum
setiap mesyuarat. Setiausaha hendaklah mengedarkan minit
mesyuarat kepada semua ahli Jawatankuasa.
Jawatankuasa boleh, apabila dianggap perlu, menjemput
ahli Lembaga Pengarah lain dan/atau ahli Pengurusan Kanan
untuk menghadiri mesyuarat Jawatankuasa.
Jawatankuasa ini hendaklah bermesyuarat dengan juruaudit
luar sekurang-kurangnya dua (2) kali setahun, untuk
membincangkan sebarang perkara dengan Jawatankuasa
tanpa kehadiran mana-mana ahli eksekutif Lembaga
Pengarah dan Pengurusan Kanan. Pengerusi Jawatankuasa
akan mengadakan mesyuarat untuk mempertimbangkan
sebarang perkara yang pihak juruaudit luar percaya perlu
di bawa kepada perhatian para Pengarah atau pemegang
saham.
Jawatankuasa hendaklah mengatur prosiding mesyuaratnya,
dengan mengambil kira konvensyen biasa berhubung perkara
tersebut.
Kuasa
Jawatankuasa diberi kuasa oleh Lembaga Pengarah untuk
menyiasat sebarang perkara dalam terma rujukannya.
Jawatankuasa juga diberi kuasa untuk mendapatkan
sebarang maklumat yang diperlukan daripada mana-mana
kakitangan dan semua kakitangan dikehendaki memberi
kerjasama terhadap sebarang permintaan yang dibuat oleh
Jawatankuasa.
Jawatankuasa hendaklah mempunyai akses penuh dan
tanpa had kepada sebarang maklumat berkaitan Kumpulan
dan hendaklah mempunyai sumber yang diperlukan untuk
melaksanakan tugasnya. Jawatankuasa boleh mendapatkan
nasihat perundangan atau profesional bebas luar lain yang
dianggap perlu, dengan perbelanjaan ditanggung oleh
Takaful Malaysia.
Jawatankuasa hendaklah mempunyai saluran komunikasi
secara langsung dengan juruaudit dalaman dan juruaudit
luar, kakitangan pengurusan risiko dan dengan Pengurusan
Kanan Kumpulan dan boleh mengadakan mesyuarat dengan
juruaudit luar, juruaudit dalaman atau kedua-duanya sekali,
Quorum and Committee’s Procedures
Meetings shall be conducted at least four (4) times annually
or more frequently as circumstances dictate.
In order to form a quorum for the meeting, the majority of
members present must be Independent Non-Executive
Directors. In the absence of the Chairman, the members
present shall elect a Chairman for the meeting from amongst
the members present.
The Company Secretary shall be the Secretary of the
Committee. The Secretary, in concurrence with the Chairman,
shall draw up an agenda, which shall be circulated together
with relevant support papers within reasonable time prior
to each meeting to the members of the Committee. The
Secretary shall circulate the minutes of meetings to all
members of the Committee.
The Committee may, as and when deemed necessary, invite
other Board members and/or Senior Management members
to attend the Committee meetings.
The Committee shall, at least twice (2) a year, meet with the
external auditors to discuss any matter with the Committee
without the presence of any executive members of the Board
and Senior Management. The Chairman of the Committee
shall convene a meeting of the Committee to consider any
matter which the external auditors believe should be brought
to the attention of the Directors or shareholders.
The Committee shall regulate the manner of proceedings of
its meetings, having regard to normal conventions on such
matter.
Authority
The Committee is authorised by the Board to investigate
any matter within its terms of reference. It is authorised to
seek any information it requires from any employee and all
employees are required to cooperate with any request made
by the Committee.
The Committee shall have full and unrestricted access to any
information pertaining to the Group. The Committee shall
have the resources that are required to perform its duties. The
Committee can obtain, at the expense of Takaful Malaysia,
external legal or other independent professional advice it
considers necessary.
The Committee shall have direct communication channels
with the internal and external auditors, the risk management
personnel and with Senior Management of the Group and
043
tanpa dihadiri oleh para pengarah dan kakitangan Syarikat,
bila-bila dianggap perlu.
Sekiranya Jawatankuasa berpendapat bahawa sebarang
perkara yang dilaporkan olehnya kepada Lembaga Pengarah
masih belum diselesaikan dengan memuaskan sehingga
menyebabkan pelanggaran Keperluan Penyenaraian Bursa
Malaysia, Jawatankuasa hendaklah melaporkan dengan
segera perkara tersebut kepada Bursa Malaysia.
Tugas dan Tanggungjawab
Fungsi utama Jawatankuasa adalah untuk membantu
Lembaga Pengarah dalam menilai proses Kumpulan berkaitan
dengan risiko dan persekitaran kawalannya, mengawasi
laporan kewangan dan menilai proses audit dalaman dan
luar.
Oleh yang demikian, tugas dan tanggungjawab Jawatankuasa
adalah seperti berikut:
•
•
•
•
•
•
mengkaji dengan juruaudit luar dan melaporkan kepada
Lembaga Pengarah, skop dan pelan audit, termasuk
sebarang perubahan kepada skop yang dirancang bagi
pelan audit dan penilaian bagi sistem kawalan dalaman.
mengkaji kecukupan skop dan pelan audit dalaman,
fungsi-fungsi, daya saing dan sumber fungsi audit dalaman
dan sama ada ianya mempunyai kuasa diperlukan untuk
menjalankan tugas.
mengkaji program dan proses audit dalaman, keputusan
program, proses atau penyiasatan audit dalaman yang
dilaksanakan dan sama ada tindakan yang sewajarnya
telah diambil berdasarkan syor-syor yang dikemukakan
oleh juruaudit dalaman.
mengkaji laporan audit dalaman dan luar bagi memastikan
supaya tindakan segera dan sewajarnya diambil oleh
pihak Pengurusan terhadap kekurangan utama dalam
kawalan atau prosedur yang telah dikenal pasti dan
dilaporkan kepada Lembaga Pengarah.
mengkaji penemuan audit utama dan tindakan Pengurusan
sepanjang tahun dengan pihak Pengurusan, juruaudit luar
dan juruaudit dalaman termasuk status syor-syor audit
yang terdahulu.
mengkaji kerjasama yang diberi oleh kakitangan
Kumpulan kepada juruaudit dan sebarang masalah
yang dihadapi dalam menjalankan kerja audit, termasuk
sebarang sekatan dalam skop aktiviti atau akses untuk
mendapatkan maklumat yang diperlukan.
shall be able to convene meetings with the external auditors,
the internal auditors or both, excluding the attendance of
other directors and employees of the Company, whenever
deemed necessary.
Where the Committee is of the view that a matter reported by
it to the Board has not been satisfactorily resolved resulting
in a breach of Bursa Malaysia Listing Requirements, the
Committee shall promptly report such matter to the Bursa
Malaysia.
Duties and Responsibilities
The primary function of the Committee is to assist the Board
to assess the Group’s processes relating to its risks and
control environment, oversee financial reporting and evaluate
the internal and external audit processes.
Therefore, the duties and responsibilities of the Committee
are as follows:
•
to review with the external auditor and report to the
Board, the audit scope and plan, including any changes
to the planned scope of the audit plan and evaluation of
the system of internal control.
•
to review the adequacy of the internal audit scope and
plan, functions, competency and resources of the internal
audit functions and that it has the necessary authority to
carry out its work.
•
to review the internal audit programme, processes, the
results of the internal audit programme, processes or
investigation undertaken and whether or not appropriate
action is taken on the recommendations of the internal
auditor.
•
to review the external and internal audit reports to
ensure that appropriate and prompt remedial action is
taken by Management on major deficiencies in controls
or procedures that are identified and reported to the
Board.
•
to review the major audit findings and Management’s
response during the year with Management, external
auditors and internal auditors, including the status of
previous audit recommendations.
•
to review the assistance given by the Group’s employees
to the auditors, and any difficulties encountered in the
course of the audit work, including any restrictions on the
scope of activities or access to required information.
044
•
mengkaji kebebasan dan objektif juruaudit luar dan
khidmat mereka, termasuk khidmat bukan audit dan yuran
profesional, bagi memastikan keseimbangan objektif dan
nilai wang.
•
to review the independence and objectivity of the external
auditors and their services, including non-audit services
and the professional fees, so as to ensure a proper balance
between objectivity and value for money.
•
mengkaji pelantikan, prestasi, yuran audit dan sebarang
persoalan berhubung peletakan jawatan atau pemecatan
juruaudit luar sebelum memberi cadangan kepada
Lembaga Pengarah.
•
to review the appointment, performance, audit fees and
any question regarding the resignation or dismissal of
external auditors before making recommendations to the
Board.
•
mengkaji keputusan suku tahunan dan penyata kewangan
akhir tahun, sebelum kelulusan Lembaga Pengarah
dengan menumpu terutamanya kepada:
- perubahan atau pelaksanaan dasar dan praktis
perakaunan utama;
- pelarasan ketara dan peristiwa penting dan luar biasa
timbul dari audit;
- andaian perniagaan berterusan; dan
- pematuhan kepada standard kewangan, Bursa
Malaysia dan keperluan undang-undang.
•
to review the quarterly and year end financial statements,
before the approval by the Board, focusing particularly
on:
- changes in or implementation of major accounting
policy and practice;
- significant adjustments and unusual event arising
from the audit;
- the going concern assumption; and
- compliance with accounting standards, Bursa
Malaysia and other legal requirements.
•
•
membincangkan masalah dan persoalan yang wujud
dari audit interim dan akhir dan sebarang perkara yang
ingin dibincangkan oleh juruaudit (tanpa kehadiran pihak
Pengurusan jika perlu);
mengkaji sama ada terdapat sebarang alasan (dengan
disokong oleh sebab-sebab tertentu) untuk mempercayai
bahawa juruaudit luar Syarikat tidak sesuai untuk dilantik
semula.
•
to discuss problems and reservations arising from the
interim and final audits, and any matter the auditor may
wish to discuss (in the absence of Management where
necessary);
•
to review whether there is a reason (supported by
grounds) to believe that the Company’s external auditors
is not suitable for the re-appointment.
•
mengkaji Piagam Audit Dalaman, belanjawan
komposisi kakitangan Bahagian Audit Dalaman.
dan
•
to review the Internal Audit Charter, budget and staffing
of the Internal Audit Division.
•
mengkaji sebarang pencapaian dan penilaian terhadap
prestasi ahli fungsi audit dalaman.
•
to review any appraisal or assessment of the performance
of members of the internal audit function.
•
meluluskan sebarang pelantikan atau
kakitangan kanan ahli audit dalaman.
•
to approve any appointment or termination of senior
staff members of the internal audit function.
•
menyedari peletakan jawatan kakitangan audit dalaman
dan memberi peluang kepada mereka menyatakan sebab
peletakan jawatannya.
•
to take cognizance of resignations of internal audit staff
members and provide the resigning staff member an
opportunity to submit his reasons for resigning.
•
mengkaji kecukupan dan kewibawaan kawalan dalaman,
penemuan audit dalaman dan mencadangkan tindakan
yang perlu diambil oleh Pengurusan. Laporan juruaudit
dalaman dan Jawatankuasa tidak harus tertakluk kepada
kebenaran dari Ketua Pegawai Eksekutif/Pengarah
Urusan Kumpulan dan Pengarah Eksekutif.
•
to review the adequacy and integrity of internal controls,
the internal audit findings, and recommend action to
be taken by Management. The reports of the internal
auditors and the Committee should not be subject to the
clearance of the Chief Executive Officer/Group Managing
Director and Executive Directors.
pemecatan
045
•
mengarah dan sekiranya wajar, menyelia sebarang projek
atau siasatan khas jika perlu, dan mengkaji laporan
siasatan berkenaan sebarang penyalahgunaan, penipuan
dan kecurian yang besar.
•
to direct and where appropriate supervise any special
projects or investigation considered necessary, and
review investigation report on any major defalcation,
frauds and thefts.
•
memastikan akaun disediakan tepat pada masanya dan
dengan cara yang tepat dengan kajian secara kerap
terhadap kecukupan peruntukan bagi luar jangka, dan
hutang lapuk dan hutang ragu.
•
to ensure that the accounts are prepared in a timely and
accurate manner with frequent reviews of the adequacy
of provisions against contingencies, and bad and doubtful
debts.
•
memastikan penerbitan penyata/laporan
tahunan yang menepati masa.
kewangan
•
to ensure prompt
statements/report.
•
mengkaji sebarang urusniaga pihak berkaitan dan situasi
konflik kepentingan yang mungkin timbul dalam Syarikat
atau Kumpulan, termasuk sebarang urusniaga, prosedur
atau tatacara yang menimbulkan persoalan terhadap
kewibawaan pihak Pengurusan.
•
to review any related party transaction and conflict of
interest situation that may arise within the Company
or the Group, including any transaction, procedure or
course of conduct that raises questions of management
integrity.
•
melaksanakan sebarang fungsi lain
dipersetujui oleh Lembaga Pengarah.
•
to perform any other functions as may be agreed by the
Board.
yang
mungkin
publication
of
annual
financial
RINGKASAN AKTIVITI JAWATANKUASA
SUMMARY OF ACTIVITIES OF THE COMMITTEE
Aktiviti-aktiviti yang telah dijalankan oleh Jawatankuasa
sepanjang tahun kewangan yang dikaji termasuk:
The activities undertaken by the Committee during the
financial year under review include the following:
•
Mengkaji dan memantau dengan juruaudit luar, keputusan
dan perkembangan audit bagi tahun kewangan berakhir
30 Jun 2009, laporan audit dan surat Pengurusan,
termasuk tindakan Pengurusan berkaitannya.
•
Reviewed and monitored with the external auditors,
the results and progress of the audit for the financial
year ended 30 June 2009, the audit report and the
Management letter, including Management’s response
thereto.
•
Menguruskan pelaksanaan Limited Review yang dilakukan
oleh juruaudit luar.
•
Managed the Limited Review exercise performed by the
external auditors.
•
Discussed the re-appointment of external auditors for the
eighteen (18) months financial period ended 31 December
2010.
•
Reviewed the external auditors’ scope of work and audit
plans for the eighteen (18) months financial period ended
31 December 2010. Prior to the audit, representatives
from the external auditors presented their audit strategy
and plan.
•
Discussed the audit fees payable to the external
auditors.
•
Discussed with external auditors any matters that
warrant the Board and Shareholders’ attention without
the presence of the member of the Executive Directors
and Management.
•
•
•
•
Berbincang mengenai pelantikan semula juruaudit luar
bagi lapan belas (18) bulan tempoh kewangan berakhir 31
Disember 2010.
Mengkaji skop kerja dan rancangan audit juruaudit luar
bagi lapan belas (18) bulan tempoh kewangan berakhir
31 Disember 2010. Sebelum audit dijalankan, wakilwakil juruaudit luar telah membentangkan strategi dan
rancangan audit.
Berbincang mengenai yuran audit yang perlu dibayar
kepada juruaudit luar.
Berbincang dengan juruaudit luar berhubung sebarang
perkara yang memerlukan perhatian Lembaga Pengarah
dan Pemegang Saham tanpa kehadiran ahli Lembaga
Pengarah Eksekutif dan pihak Pengurusan.
046
•
Mengkaji pelan audit, program dan keperluan sumber
Bahagian Audit Dalaman bagi tahun kewangan 2011 dan
2012.
•
Reviewed the Internal Audit Division’s audit plan,
programmes and resources requirements for the financial
years 2011 and 2012.
•
Mengkaji laporan audit dalaman dan audit khas untuk
Takaful Malaysia dan subsidiarinya yang menekankan isuisu audit, cadangan dan maklum balas pihak Pengurusan
yang berkaitan. Berbincang dengan Pengurusan
mengenai tindakan yang telah dan akan diambil untuk
mempertingkatkan sistem kawalan dalaman berdasarkan
peluang-peluang penambahbaikan yang telah dikenal
pasti dalam laporan audit dalaman.
•
Reviewed the internal audit reports and special audit
reports for Takaful Malaysia and its subsidiaries, which
highlighted the audit issues, recommendations and
Management’s response thereto. Discussed with
Management on actions taken or to be taken to improve
the system of internal control based on improvement
opportunities identified in the internal audit reports.
•
Mengkaji laporan susulan oleh juruaudit dalaman
mengenai status tindakan yang diambil oleh pihak
Pengurusan terhadap cadangan yang diberikan dalam
laporan audit.
•
Reviewed follow-up reports by the internal auditors
on the status of actions taken by the Management on
recommendations suggested in the audit reports.
•
berhubung isu-isu yang dibangkitkan berdasarkan
penemuan daripada pemeriksaan oleh BNM dan status
tindakan yang diambil oleh pihak Pengurusan mengenai
isu yang dibangkitkan oleh BNM.
•
Reviewed follow-up reports by the internal auditors on
BNM’s examination findings and status of actions taken
by the Management on issues raised by BNM.
•
Reviewed follow-up reports by the internal auditors on
external auditors’ findings as set out in the Management
letter and status of actions taken by the Management on
issues raised by the external auditors.
•
Monitored the progress of the Internal Audit Division in
completing its audit within the stipulated time frame.
•
Examined the adequacy of the skills, knowledge and core
competencies of the internal auditors.
•
Reviewed the audited financial statements of the
Company prior to submission to the Board for their
consideration and approval. The review was to ensure
that the audited financial statements were drawn up in
accordance with the provisions of the Companies Act
1965 and the applicable approved accounting standards.
•
Reviewed the Company’s compliance in particular the
quarterly and the year end financial statements with
Bursa Malaysia Listing Requirements, Capital Markets
and Services Act 2007, BNM Guidelines, applicable
approved accounting standards and other relevant legal
and regulatory requirements.
•
Reviewed the Compliance reports on the level of
compliance with Regulators’ requirements, laws and
Acts.
•
•
berhubung isu yang dibangkitkan dalam surat Pengurusan
oleh juruaudit luar dan status tindakan yang diambil oleh
pihak Pengurusan mengenai isu tersebut.
Memantau perkembangan Bahagian Audit Dalaman
dalam menyelesaikan auditnya dalam tempoh yang telah
ditetapkan.
•
Memeriksa kecukupan kemahiran, pengetahuan dan daya
saing teras juruaudit dalaman.
•
Mengkaji penyata kewangan Syarikat yang telah diaudit
sebelum diserahkan kepada Lembaga Pengarah bagi
pertimbangan dan kelulusan mereka. Kajian ini adalah
untuk memastikan supaya penyata kewangan yang
telah diaudit disediakan mengikut peruntukan Akta
Syarikat 1965 dan piawaian perakaunan berkaitan yang
diluluskan.
•
•
Mengkaji pematuhan Syarikat terhadap Keperluan
Penyenaraian Bursa Malaysia, Akta Pasaran dan
Perkhidmatan Modal 2007, Garis Panduan BNM, piawaian
perakaunan berkaitan yang diluluskan dan keperluankeperluan perundangan dan penguatkuasaan lain,
terutamanya bagi penyata kewangan suku tahunan dan
akhir tahun.
Mengkaji laporan Pematuhan mengenai tahap pematuhan
dengan keperluan Pihak Penguatkuasa, undang-undang
dan Akta.
047
•
Membincangkan pelaksanaan keperluan-keperluan baru
yang digariskan oleh Pihak Penguatkuasaan seperti FRS
139 dan FRS 4.
•
Mengkaji pengumuman keputusan kewangan suku
tahunan yang belum diaudit sebelum disyorkan kepada
Lembaga Pengarah untuk kelulusan.
•
Mengkaji urusniaga
Kumpulan.
•
•
pihak
yang
berkaitan
dalam
Mengkaji penyata pendedahan dalam Laporan Tahunan
seperti Penyata Urus Tadbir Korporat, Penyata Kawalan
Dalaman dan Laporan Jawatankuasa Audit dalam
mematuhi Keperluan Penyenaraian Bursa Malaysia dan
Suruhanjaya Sekuriti.
Menasihat dan membimbing perjalanan penyiasatan
di dalam sebarang aktiviti atau perkara dalam bidang
rujukannya.
FUNGSI DAN AKTIVITI AUDIT DALAMAN
Bahagian Audit Dalaman adalah bebas daripada aktiviti
atau operasi unit-unit operasi lain dan melapor terus kepada
Jawatankuasa Audit. Peranan utama bahagian ini adalah
untuk menjalankan kajian sistem kawalan dalaman secara
bebas, kerap dan sistematik supaya dapat memberi jaminan
yang sewajarnya bahawa sistem tersebut mampu terus
beroperasi secara berkesan dan memuaskan. Audit dalaman
mengamalkan pendekatan berasaskan risiko dalam rancangan
audit dan pemeriksaannya.
Adalah menjadi tanggungjawab Bahagian Audit Dalaman
untuk menyediakan laporan bebas dan objektif kepada
Jawatankuasa tentang status kawalan dalaman di pelbagai
unit operasi dalam Kumpulan serta tahap pematuhan unitunit tersebut terhadap dasar dan prosedur Kumpulan serta
terhadap keperluan berkanun yang berkaitan.
Aktiviti-aktiviti berikut telah dijalankan oleh Bahagian Audit
Dalaman dalam tahun kewangan yang dikaji:
•
Membangunkan pelan audit dua tahun (tahun kewangan
2011 dan 2012) berdasarkan pendekatan audit berasaskan
risiko yang diambil menjadi input pertimbangan dari profil
risiko yang dibentuk oleh Pengurusan, perbincangan
dengan Pengurusan Kanan terhadap proses-proses yang
kritikal dan dalam pengetahuan dengan wawasan dan misi
Takaful Malaysia dalam konteks penglibatan persekitaran
perniagaan untuk pertimbangan Jawatankuasa.
•
Discussed the implementation of new requirements set
forth by the Regulators such as FRS 139 and FRS 4.
•
Reviewed the quarterly unaudited financial results
announcements before recommending them for the
Board’s approval.
•
Reviewed related party transactions within the Group.
•
Reviewed the disclosure statements in the Annual Report
such as Corporate Governance Statement, Statement
on Internal Control and Audit Committee Report in
compliance with Bursa Malaysia Listing Requirements
and Securities Commission.
•
Advised and guided the conduct of investigation into any
activity or matter within its terms of reference.
INTERNAL AUDIT FUNCTION AND ACTIVITIES
The Internal Audit Division is independent of the activities
or operations of other operating units and reports directly
to the Audit Committee. The principal role of the division is
to undertake independent regular and systematic reviews of
the systems of internal controls so as to provide reasonable
assurance that such systems continue to operate satisfactorily
and effectively. The internal audit practices a risk-based
approach in its audit plan and examination.
It is the responsibility of the Internal Audit Division to provide
the Committee with independent and objective reports on
the state of internal control of the various operating units
within the Group and the extent of compliance of the units
with the Group’s established policies and procedures as well
as relevant statutory requirements.
The following activities were undertaken by the Internal Audit
Division during the financial year under review:
•
Developed two-year audit plan (FYE 2011 and 2012)
premised on risk based audit approach taking into
consideration input from the risk profiles established
by management, discussion with Senior Management
on critical processes and in cognizance with Takaful
Malaysia’s vision and mission in the context of its evolving
business environment for Committee’s consideration.
048
•
Melaksanakan peranan jaminan bebas dengan membuat
ulasan kajian berjadual ke atas keberkesanan, kecekapan
dan mekanisma kawalan ekonomi untuk mengutarakan
risiko dan keutamaan dalam bidang operasi, kewangan,
teknologi maklumat, pembangunan modal insan,
pembangunan perniagaan dan fungsi-fungsi strategik
yang menggunapakai pendekatan audit berasaskan risiko
seperti yang dinyatakan dalam Pelan Audit.
•
Menyediakan jaminan yang munasabah ke atas tahap
pematuhan polisi dan prosedur yang telah disediakan
di samping keperluan statutori BNM dan badan-badan
perundangan lain.
• Memberi khidmat nasihat kepada Pengurusan dan
subsidiari Syarikat.
•
Executed independent assurance role by performing
scheduled reviews on the effectiveness, efficiency and
economical of control mechanism to address risks and
concerns in the areas of operations, financial, information
technology, human capital development, business
development and strategic functions on a risk based
audit approach as set out in the Audit Plan.
•
Provided reasonable assurance on the extent of
compliance with established policies and procedures as
well as BNM statutory requirements and other regulatory
bodies.
•
Rendered advisory services to management of Company
and its subsidiaries.
•
Mencadangkan peningkatan ke atas proses perniagaan
dan penambahbaikan bagi sistem kawalan dalaman yang
sedia ada.
•
Recommended improvements to the business processes
and enhancement to the existing system of internal
controls.
•
Menjalankan audit susulan berhubung status tindakan
yang diambil oleh Pengurusan berdasarkan cadangan
yang dibuat dalam penemuan audit juruaudit dalaman,
juruaudit luar, pegawai pemeriksa BNM dan lain-lain.
•
Conducted follow-up audit on status of actions taken
by the Management on recommendations suggested in
audit reports of internal auditors, external auditors, BNM
examiners, etc.
•
Menjalankan semakan khas dan penyiasatan seperti
yang diminta oleh Pengurusan Kanan dan pengesahan
daripada Pengerusi Jawatankuasa Audit.
•
Carried out special reviews and investigations as
requested by senior management and endorsement from
the Audit Committee Chairman.
•
Mengkaji semula kecukupan dan kesesuaian kawalan
dalaman dan pendedahan risiko di dalam pakej produk
baru berdasarkan semakan semula Rangka Kerja
Pembangunan Produk.
•
Reviewed the adequacy and appropriateness of the
internal controls and risk exposures in the new product
packages based on the revised Product Development
Framework (PDF).
•
Menyediakan bimbingan dan nasihat kepada Jawatankuasa
Pelaksanaan Projek sebelum pelancaran produk baru dan
lama.
•
Provided guidance and advices to the Project
Implementation Committee for new and revised products
before launching.
•
Menjalankan semakan ke atas penyediaan sistem
teknologi maklumat, ujian dan penggunaan sebelum
ianya dilaksanakan.
•
Conducted reviews on IT system set-ups, tests and
deployments before embarking into production.
•
Menjalankan semakan khas terhadap pelaksanaan
pembersihan and perpindahan data untuk sistem teras
teknologi maklumat yang baru.
•
Conducted special reviews on Data Cleansing and
Migration exercise for the new IT core system.
•
•
Menjalankan audit ke atas perkakasan komputer, sistem
operasi dan aplikasi serta rangkaian teknologi komunikasi
maklumat (ICT) Takaful Malaysia.
Conducted audit computer hardware, operating
and application systems as well as the information
communication technology (ICT) network of Takaful
Malaysia.
049
•
Menjadi
pemerhati
pemilihannya.
dalam
tender
dan
proses
•
Participated in tender and selection process in the
capacity of an observer.
•
Menyemak dan menyediakan bimbingan terhadap
latihan Pengurusan Kesinambungan Perniagaan yang
dijalankan.
•
Reviewed and provided guidance on the Business
Continuity Management exercise conducted.
•
Menyemak dan mengumpul data-data terkini Supervisory
Concern sebelum diserahkan kepada Bank Negara
Malaysia.
•
Reviewed and compiled the updates on the Supervisory
Concerns prior to submission to Bank Negara Malaysia.
•
Reviewed the outsourcing activities for the Company.
•
Guided management in preparing the Audit Committee
Report and Statement of Internal Control for disclosure
in the annual report.
•
Mengkaji semula aktiviti khidmat luar terhadap Syarikat.
•
Membimbing Pengurusan dalam menyediakan Laporan
Jawatankuasa Audit dan Penyata Kawalan Dalaman
untuk dizahirkan dalam laporan tahunan.
Laporan daripada tugasan audit dikemukakan kepada pihak
Pengurusan untuk perhatian dan tindakan pembetulan
yang perlu seperti yang dicadangkan. Pihak Pengurusan
bertanggungjawab
memastikan
tindakan
pembetulan
terhadap kelemahan yang dilapor dilaksanakan dalam
jangka masa yang ditetapkan. Jumlah kos yang terbabit
bagi mengekalkan fungsi Audit Dalaman yang dilakukan
secara dalaman bagi tahun kewangan yang dikaji adalah
lebih kurang sebanyak RM3.0 juta merangkumi sebahagian
besarnya adalah gaji, elaun perjalanan dan penginapan dan
elaun sara hidup bagi menjalankan tugasan audit.
Reports from the audit assignments are forwarded to the
Management for attention and necessary corrective actions
as recommended. The Management is responsible for
ensuring that corrective actions on reported weaknesses are
taken within the required time frame. The costs incurred in
maintaining the Internal Audit function which is performed inhouse for the financial year under review was approximately
RM3.0 million comprising mainly salaries, travelling and
accommodation expenses and subsistence allowance for
audit assignments.
050
Penyata Urus Tadbir Korporat
Lembaga Pengarah Syarikat Takaful Malaysia Berhad
(“Takaful Malaysia”) terus mematuhi dan menyokong
sepenuhnya Kod Urus Tadbir Korporat Malaysia (“Kod”) dan
sentiasa komited dalam memastikan supaya Prinsip-prinsip
dan Amalan Terbaik Urus Tadbir Korporat dipatuhi dan
diamalkan oleh keseluruhan Kumpulan bagi membolehkan
urus selia hal-ehwal Kumpulan dikendalikan secara profesional,
bertanggungjawab dan berwibawa dengan objektif untuk
melindungi dan mempertingkatkan nilai pelaburan pemegang
saham dan prestasi kewangan Kumpulan.
Lembaga Pengarah dengan ini berbesar hati melaporkan
pelaksanaan penggunaan Prinsip-prinsip Kod dan sejauh mana
Kumpulan telah mematuhi Kod Amalan Terbaik sebagaimana
yang ditetapkan menurut Keperluan Penyenaraian Pasaran
Utama Bursa Malaysia Securities Berhad (“Keperluan
Penyenaraian Bursa Malaysia”) sepanjang tahun kewangan
yang dikaji.
PENGARAH
The Board of Directors (“the Board”) of Syarikat Takaful
Malaysia Berhad (“Takaful Malaysia”) continues to subscribe
and fully support the Malaysian Code of Corporate
Governance (“the Code”) and is committed to ensure that
the Principles of Corporate Governance and Best Practices
are observed and practised throughout the Group so that
the affairs of the Group are conducted with professionalism,
accountability and integrity with the objective of safeguarding
and enhancing shareholders’ value and financial performance
of the Group.
The Board is pleased to report on the application of the
Principles of the Code and the extent of compliance with the
Best Practices of the Code as required under the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad
(“Bursa Malaysia Listing Requirements”) during the financial
year under review.
DIRECTORS
Lembaga Pengarah
Lembaga Pengarah bertanggungjawab terhadap keseluruhan
aspek urus tadbir korporat Kumpulan dan juga diamanahkan
dengan tanggungjawab dalam melaksanakan penjagaan yang
sewajarnya ke atas Syarikat serta sumber-sumber Kumpulan
bagi memelihara kepentingan para pemegang saham dan
memastikan pengurusan perniagaan yang sewajarnya.
The Board of Directors
The Board is responsible for the overall corporate governance
of the Group and is also entrusted with the responsibility of
exercising reasonable care of the Company as well as Group’s
resources in the best interests of its shareholders and in
ensuring the proper conduct of business.
Mesyuarat Lembaga Pengarah
Mesyuarat Lembaga Pengarah dijadualkan terlebih dahulu
pada permulaan tahun kalendar dengan mesyuarat tambahan
diadakan bila perlu. Tujuh belas (17) mesyuarat Lembaga
Pengarah telah diadakan sepanjang lapan belas (18) bulan
tempoh kewangan yang dikaji dengan butiran kehadiran
setiap Pengarah seperti berikut:
Board Meetings
Board meetings are scheduled in advance at the beginning
of a calendar year with additional meetings convened when
necessary. Seventeen (17) Board meetings were held during
the eighteen (18) months financial period under review with
details of meetings’ attendance of each Director as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
Y. Bhg. Tan Sri Dr. Hadenan A. Jalil
(Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Director)
(Meletak jawatan pada 16 Julai 2009/Resigned on 16 July 2009)
1/1
100
(Dilantik pada 16 Disember 2009/Appointed on 16 December 2009)
10/10
100
Y. Bhg. Dato’ Mohamed Hassan Md Kamil (Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director)
16/17
94
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director
8/10
80
17/17
100
Puan Rozaida Omar
051
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
(Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
16/17
94
16/17
94
16/17
94
6/7
86
Semua Pengarah memiliki latar belakang pengalaman kerja
yang luas dalam pelbagai bidang, dan dengan ini membolehkan
mereka membuat pertimbangan yang sewajarnya dalam
melaksanakan tugas mereka.
Keseimbangan Lembaga Pengarah
Sepanjang tahun kewangan yang dikaji, Lembaga Pengarah
terdiri daripada:
All Directors have the backing of extensive work experience
in various fields and therefore able to exercise independent
judgement in order to discharge their duties.
Board Balance
During the financial year under review, the Board comprises
the following:
Nama/Name
Komposisi/
Composition
Peratus(%)/
Percentage (%)
Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director 1/7
14
Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Directors 3/7
43
Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Directors 3/7
43
* Komposisi di atas adalah selepas peletakan jawatan oleh
Y. Bhg. Tan Sri Dr Hadenan A. Jalil pada 16 Julai 2010,
persaraan Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu
Bakar pada 14 Mei 2010 dan pelantikan Y. Bhg. Dato‘ Paduka
Ismee Ismail dan Encik Zakaria Ismail masing-masing pada 16
Disember 2009 dan 15 Mei 2010.
* The above composition is after the resignation of
Y. Bhg. Tan Sri Dr Hadenan A. Jalil on 16 July 2010, retirement
of Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
on 14 May 2010 and appointments of Y. Bhg. Dato‘ Paduka
Ismee Ismail and Encik Zakaria Ismail on 16 December 2009
and 15 May 2010 respectively.
Komposisi di atas mematuhi Keperluan Penyenaraian Bursa
Malaysia yang mewajibkan satu pertiga (1/3) daripada para
Pengarah Takaful Malaysia terdiri daripada Pengarah Bebas.
The above composition is in compliance with Bursa Malaysia
Listing Requirements which require that one third (1/3) of
Directors of Takaful Malaysia to be Independent Directors.
Lembaga Pengarah yang mempunyai pelbagai latar belakang
dan kepakaran khusus, secara kolektifnya membawa bersama
mereka pengalaman dan kepakaran yang luas dalam bidangbidang seperti kewangan, insurans, aktuari, perakaunan, kesetiausahaan syarikat, perundangan, pengurusan dan
perbankan. Profil ahli Lembaga Pengarah ada dibentangkan
di muka surat 24 hingga 30 dalam Laporan Tahunan ini.
Terdapat pembahagian yang jelas antara tanggungjawab
Pengerusi dan Pengarah Urusan Kumpulan bagi memastikan
keseimbangan kuasa dan autoriti.
The Board with their different backgrounds and
specializations, collectively bring with them a wide range of
experience and expertise in areas such as finance, insurance,
actuary, accounting, company secretarial, legal, management
and banking. The profiles of the Directors are provided on
pages 24 to 30 of the Annual Report. There is a clear division
of responsibilities between the Chairman and the Group
Managing Director to ensure that there is a balance of power
and authority.
052
Peranan Pengerusi dan Pengarah Urusan Kumpulan ditakrif
dengan jelas di mana Pengerusi bertanggungjawab terhadap
pengendalian Lembaga Pengarah dan menerajui perbincangan
di peringkat Lembaga Pengarah sementara Pengarah Urusan
Kumpulan bertanggungjawab terhadap pengurusan Syarikat
dan Kumpulan serta pelaksanaan dasar dan keputusan yang
telah diputuskan oleh Lembaga Pengarah.
Kod ada mengesyorkan pelantikan Pengarah Bukan Eksekutif
Bebas Kanan di mana sebarang kemusykilan boleh dirujuk
oleh ahli Lembaga Pengarah yang lain. Walau bagaimanapun,
memandangkan setiap ahli Lembaga Pengarah adalah
berkaliber tinggi dan peranan yang berbeza antara Pengerusi
dan Pengarah Urusan Kumpulan, buat masa ini Lembaga
Pengarah menganggap adalah tidak perlu untuk melantik
Pengarah Bukan Eksekutif Bebas Kanan yang khusus.
Jawatankuasa Lembaga Pengarah
Dalam memastikan Lembaga Pengarah melaksanakan tugas
mereka dengan lebih berkesan di samping meningkatkan
perniagaan dan kecekapan operasi, Lembaga Pengarah
mengagihkan tanggungjawab tertentu kepada empat (4)
Jawatankuasa Lembaga Pengarah, iaitu:
• Jawatankuasa
• Jawatankuasa
• Jawatankuasa
• Jawatankuasa
Audit
Pemilihan
Ganjaran; dan
Pengurusan Risiko
Setiap Jawatankuasa mempunyai terma rujukan bertulis yang jelas dan Lembaga Pengarah menerima laporan bagi
setiap persidangan dan pertimbangan Jawatankuasa tersebut.
Pengerusi bagi setiap Jawatankuasa akan melaporkan kepada
Lembaga Pengarah setiap keputusan dari mesyuarat yang
dijalankan dan laporan tersebut akan dimasukkan ke dalam
minit Mesyuarat Lembaga Pengarah.
Keahlian Jawatankuasa adalah bergantung kepada kemahiran
dan pengalaman seseorang Pengarah serta kebolehan mereka
memberi nilai tambah kepada Jawatankuasa.
Badan Penasihat Syariah
Badan Penasihat Syariah telah diberi kepercayaan oleh
Lembaga Pengarah bagi memastikan operasi dan produk yang
ditawarkan oleh Kumpulan adalah berlandaskan keperluan
Syariah. Kesemua perkara yang memerlukan pandangan
dan keputusan Badan Penasihat Syariah akan dibentangkan
di dalam mesyuarat Badan Penasihat Syariah di mana ianya
juga dihadiri oleh pihak Pengurusan dan wakil dari Jabatan
Syariah. Kemudian, perkara tersebut akan dibawa kepada
Lembaga Pengarah untuk memaklumkan keputusan yang
telah dibuat.
The roles of the Chairman and Group Managing Director
are clearly defined with the Chairman being responsible
for running the Board and lead the discussion at the Board
level whilst the Group Managing Director is responsible
for managing the Company and the Group as well as the
implementation of the Board’s policies and decisions.
The Code recommends the appointment of a senior
independent non-executive Director to whom concerns
may be conveyed by other Board members. However, given
the high caliber and standing of the individual members of
the Board and the separation of the roles of the Chairman
and Group Managing Director, the Board currently does
not consider it necessary to nominate a designated Senior
Independent Non-Executive Director.
Board Committees
To enable the Board to discharge its duties effectively
whilst enhancing business and operational efficacy, the
Board delegates certain responsibilities to four (4) Board
Committees, namely:
• Audit Committee
• Nomination Committee
• Remuneration Committee; and
• Risk Management Committee
All Committees have clear written terms of reference and the
Board receives reports of their proceedings and deliberations.
The Chairman of the various Committees will report to the
Board the outcome of their meetings and such reports are
incorporated in the minutes of the Board Meeting.
The Committees’ membership are based on Directors’ skills
and experience as well as their ability to add value to the
Committees.
Shariah Advisory Body
The Shariah Advisory Body is entrusted by the Board to
ensure that the Group’s operations and products offered are
in accordance with Shariah requirements. All matters which
require the Shariah Advisory Body’s opinion and decision
are deliberated at Shariah Advisory Body meetings with the
attendance of the Management and representatives from the
Shariah Department. Thereon, the said matters are brought to
the attention of the Board for an informed decision making.
053
Badan Penasihat Syariah terdiri daripada lima (5) orang ahli
di mana kesemuanya mempunyai pengalaman dan kepakaran
yang diperlukan di dalam bidang masing-masing. Y. Bhg. Dr.
Ahmad Shahbari @ Sobri Salamon merupakan Pengerusi
Badan Penasihat Syariah sekarang. Enam (6) mesyuarat
Badan Penasihat Syariah telah diadakan sepanjang lapan
belas (18) bulan tempoh kewangan yang dikaji dengan butiran
kehadiran setiap ahli seperti berikut:
The Shariah Advisory Body consists of five (5) members, all
of whom have the necessary experiences and expertise in
their respective fields. The current Chairman of the Shariah
Advisory Body is Y. Bhg. Dr. Ahmad Shahbari @ Sobri
Salamon. The Shariah Advisory Body meets six (6) times
during the eighteen (18) months financial period under
review with details of meetings’ attendance of each member
as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
6/6
100
Y. Bhg. Ustaz Mohd Bakir Hj. Mansor
6/6
100
6/6
100
Y. Bhg. Associate Professor Dr. Muhamad Rahimi Osman
(Dilantik pada 12 Januari 2010/Appointed on 12 January 2010) 2/3
67
6/6
100
Y. Bhg. Datuk Abdul Hamid Said
(Bersara pada 1 April 2011/Retired on 1 April 2011)
Sumber Maklumat kepada Lembaga Pengarah
Lembaga Pengarah mempunyai akses penuh dan secukupnya
kepada maklumat berkenaan kertas Lembaga Pengarah
yang diedarkan sebelum mesyuarat agar Pengarah
boleh mendapatkan penjelasan lanjut, apabila diperlukan bagi mendapatkan penerangan yang sewajarnya sebelum
mesyuarat. Kertas Lembaga Pengarah merangkumi minit
mesyuarat Lembaga Pengarah yang lalu, minit mesyuarat
semua Jawatankuasa Lembaga Pengarah dan laporan
yang berkaitan isu-isu mesyuarat yang meliputi kewangan,
pelaburan, teknologi maklumat, operasi, sumber manusia dan
perkara berkaitan dengan pematuhan peraturan. Pengarah
Urusan Kumpulan akan memaklumkan kepada Lembaga
Pengarah tepat pada masanya, berhubung semua isu
penting yang boleh mempengaruhi prestasi Kumpulan dan
pembangunan utama yang berlaku dalam Kumpulan.
Semua ahli Lembaga Pengarah mempunyai akses yang tidak
terhad kepada maklumat yang tepat dan pada masa yang
ditetapkan serta khidmat nasihat Setiausaha Syarikat yang
bertanggungjawab untuk memastikan supaya prosedur
mesyuarat Lembaga Pengarah dituruti dan semua syarat
serta peraturan yang diterima pakai dipatuhi. Para Pengarah
juga boleh mendapatkan nasihat badan profesional bebas
dalam menjalankan tugas mereka, di bawah tanggungan
Takaful Malaysia.
Pelantikan sebagai ahli Lembaga Pengarah
Pelantikan ahli Lembaga Pengarah yang baru dipertimbang
dan dinilai oleh Jawatankuasa Pemilihan dan Jawatankuasa
tersebut akan mengesyorkan pelantikan tersebut kepada
Lembaga Pengarah untuk diluluskan. Selaras dengan Akta
Takaful, 1984 dan keperluan Bank Negara Malaysia (“BNM”),
Supply of Information to the Board
The Board has full and timely access to information with
Board papers distributed in advance of meetings to enable
the Directors to obtain further explanation, where necessary,
in order to be properly briefed before the meetings. The
Board papers include the minutes of previous Board meeting,
minutes of meetings of all Committees of the Board and
reports relevant to the issues of the meetings covering
areas such as financial, investment, information technology,
operational, human resource and regulatory compliance
matters. The Group Managing Director keeps the Board
informed, on timely basis, of all material matters affecting
the Group’s performance and major developments within the
Group.
All the Board members have unrestricted access to timely
and accurate information and access to the advice and
services of the Company Secretary, who is responsible for
ensuring that Board meeting’s procedures are followed and
that all applicable rules and regulations are complied with.
The Directors can also seek independent professional advice
in furtherance of their duties, at Takaful Malaysia’s expense.
Appointments to the Board
The appointment of new Board members are considered and
evaluated by the Nomination Committee and the Committee
would recommend the appointment to the Board for approval.
In line with Takaful Act, 1984 and the requirement of Bank
Negara Malaysia (“BNM”), the appointment of Directors is
subject to the approval from BNM. The Company Secretary
054
pelantikan Pengarah adalah tertakluk kepada kelulusan
BNM. Setiausaha Syarikat akan memastikan supaya semua
pelantikan dilakukan dengan cara yang betul di mana semua
maklumat yang diperlukan diperoleh serta semua syarat
perundangan dan peraturan dipenuhi.
Jawatankuasa Pemilihan
Jawatankuasa Pemilihan kini terdiri daripada empat (4)
Pengarah Bukan Eksekutif [di mana dua (2) daripada mereka
adalah Pengarah Bebas] dan seorang (1) Pengarah Eksekutif.
Pengerusi Jawatankuasa kini ialah Encik Zakaria Ismail,
seorang Pengarah Bukan Eksekutif Bebas. Jawatankuasa
Pemilihan telah bermesyuarat sebanyak lapan (8) kali
sepanjang lapan belas (18) bulan tempoh kewangan yang
dikaji dengan butiran kehadiran setiap ahli seperti berikut:
will ensure that all the appointments are properly made, all
necessary information are obtained, as well as all legal and
regulatory requirements are met.
Nomination Committee
The Nomination Committee currently consist of four (4)
Non-Executive Directors [two (2) of whom are Independent]
and one (1) Executive Director. The current Chairman of the
Committee is Encik Zakaria Ismail, an Independent NonExecutive Director. The Nomination Committee met eight (8)
times during the eighteen (18) months financial period under
review with details of meetings’ attendance of each member
as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
Encik Zakaria Ismail (Dilantik pada 15 Mei 2010/Appointed on 15 May 2010) 3/3
100
Encik Johan Abdullah 7/8
88
Puan Rozaida Omar 8/8
100
Y. Bhg. Dato’ Mohamed Hassan Md Kamil 8/8
100
Y. Bhg. Dato’ Sulaiman Mohd Yusof 6/8
75
4/5
80
Jawatankuasa Pemilihan telah diberikan mandat oleh
Lembaga
Pengarah
dan
terma
rujukannya
untuk
membentang kepada Pengarah cadangan pemilihan ahli
Lembaga Pengarah, Pengarah Urusan Kumpulan/Ketua
Pegawai Eksekutif dan Pengurus Besar, dan sentiasa
mengkaji syarat-syarat pelantikan Pengarah, Pengarah
Urusan Kumpulan/Ketua Pegawai Eksekutif dan Pengurus
Besar. Jawatankuasa Pemilihan juga diberi mandat untuk
menilai keberkesanan Lembaga Pengarah, Jawatankuasanya
dan sumbangan setiap Pengarah. Jawatankuasa Pemilihan
juga merangka pelan peralihan jawatan bagi Pengurusan
Kanan Takaful Malaysia. Penilaian keberkesanan Lembaga
Pengarah dan Jawatankuasanya iaitu Jawatankuasa
Pemilihan, Jawatankuasa Ganjaran, Jawatankuasa Audit dan
Jawatankuasa Pengurusan Risiko di samping sumbangan
setiap Pengarah telah dijalankan pada tahun ini.
The Nomination Committee is empowered by the Board and its
terms of reference are to bring to the Board recommendations
as to the appointment of new Directors, Group Managing
Director/Chief Executive Officer and General Managers, and
keeps under review the terms of appointment of Directors,
Group Managing Director/Chief Executive Officer and General
Managers. The Nomination Committee is also empowered to
assess the effectiveness of the Board, its Committees and
the contribution of each individual Director. The Nomination
Committee also discussed the succession plan of the Senior
Management of Takaful Malaysia. An assessment of the
effectiveness of the Board as a whole and its Committees
i.e. Nomination Committee, Remuneration Committee, Audit
Committee and Risk Management Committee as well as
the contribution of each individual director was carried out
during the year.
055
Latihan Pengarah
Semua ahli Lembaga Pengarah telah menghadiri Program
Latihan Akreditasi Mandatori (“MAP”). Mereka akan terus
menghadiri lain-lain program latihan, kursus dan seminar
yang relevan untuk mempertingkatkan kemahiran dan
pengetahuan mereka dalam menjalankan tugas mereka
sebagai Pengarah.
Directors’ Training
All Directors have attended the Mandatory Accreditation
Programme (“MAP”). The Directors will continue to attend
other relevant training programmes, courses and seminars to
enhance their skills and knowledge in discharging their duties
as Directors.
Sepanjang tahun ini, para Pengarah telah menghadiri
pelbagai kursus latihan yang berkaitan dengan Corporate
Governance Guide-Towards Boardroom Excellence, Bank
Negara Malaysia Financial Industry Conference, Financial
Institutions Directors’ Education (FIDE) Programme, SC-Bursa
Malaysia Lecture Series, MINDA Tea Talk, MINDA Flagship
Programme: Building High Performance Directors 2010,
MICG Updates on the Regulatory Framework and Directors
Duties 2010, Financial Industry Conference 2010 dan Launch
of Sustainability Programme for Corporate Malaysia. Takaful
Malaysia juga terus menyediakan Pekeliling BNM, Keperluan
Penyenaraian Bursa Malaysia yang dikemaskini dan peraturanperaturan baru lain untuk membantu para Pengarah dalam
mendapatkan maklumat mengenai perkembangan terkini.
During the year, the Directors attended training courses
related to Corporate Governance Guide-Towards Boardroom
Excellence, Financial Industry Conference, Bank Negara
Malaysia Financial Institutions Directors’ Education (FIDE)
Programme, SC-Bursa Malaysia Lecture Series, MINDA Tea
Talk, MINDA Flagship Programme: Building High Performance
Directors 2010, MICG Updates on the Regulatory Framework
and Directors Duties 2010, Financial Industry Conference
2010 and Launch of Sustainability Programme for Corporate
Malaysia. Takaful Malaysia also continued to provide BNM’s
Circulars, updated Bursa Malaysia Listing Requirements and
new regulations to assist the Directors in keeping abreast
with the latest development.
Pemilihan Semula
Tataurusan Persatuan Syarikat memperuntukkan agar
semua Pengarah termasuk Pengarah Urusan Kumpulan/
Ketua Pegawai Eksekutif untuk menawarkan diri mereka
bagi pemilihan semula sekurang-kurangnya setiap tiga (3)
tahun sekali selaras dengan Keperluan Penyenaraian Bursa
Malaysia.
Re-election
The Articles of Association provide for all Directors including
the Group Managing Director/Chief Executive Officer to
submit themselves for re-election at least every three (3) years
in compliance with Bursa Malaysia Listing Requirements.
Bagi membantu para pemegang saham membuat keputusan,
maklumat yang mencukupi seperti profil peribadi, kehadiran
mesyuarat dan pegangan saham dalam Syarikat bagi setiap
Pengarah yang bersedia untuk pemilihan semula disediakan
dalam Laporan Tahunan.
GANJARAN PENGARAH
Peringkat dan Kandungan Ganjaran
Jawatankuasa Ganjaran bertanggungjawab mengesyorkan
rangka kerja ganjaran bagi para Pengarah termasuk pakej
ganjaran bagi Pengarah Eksekutif dan Pengurus Besar kepada
Lembaga Pengarah bagi memastikan Takaful Malaysia
mampu menarik minat, memberi motivasi dan mengekalkan
ahli Lembaga Pengarah dan Pengurus Kanan yang diperlukan
untuk mentadbir dengan jayanya. Ganjaran para Pengarah
adalah sejajar dengan amalan keseluruhan Kumpulan
mengenai ganjaran dan imbuhan. Pengarah Eksekutif tidak
terlibat dalam apa juga cara dalam menentukan ganjarannya
sendiri.
Lembaga
Pengarah
secara
keseluruhannya
menentukan ganjaran bagi Pengarah Bukan Eksekutif.
To assist shareholders in their decision, sufficient information,
such as personal profile, meetings attendance and
shareholding in the Company of each director standing for
re-election are furnished in the Annual Report.
DIRECTORS’ REMUNERATION
Level and Make-up of Remuneration
The Remuneration Committee is responsible in recommending
the remuneration framework for the Directors as well as the
remuneration package of Executive Director and General
Managers to the Board so as to ensure that Takaful Malaysia
attracts, motivates and retains the Directors and Senior
Management needed to run it successfully. The remuneration
of Directors is in line with the Group’s overall practice on
compensation and benefits. The Executive Director does
not participate in any way in determining his individual
remuneration. The Board as a whole determines the
remuneration of Non-Executive Directors.
056
Yuran para Pengarah diluluskan oleh para pemegang saham
di Mesyuarat Agung Tahunan.
Directors’ fees are approved by the shareholders at the
Annual General Meeting.
Jawatankuasa Ganjaran
Jawatankuasa Ganjaran kini terdiri daripada tiga (3) orang
Pengarah Bukan Eksekutif, [di mana dua (2) daripada
mereka adalah Pengarah Bebas] dan juga seorang (1)
Pengarah Eksekutif. Pengerusi Jawatankuasa kini ialah
Encik Mahadzir Azizan, seorang Pengarah Bukan Eksekutif
Bebas. Jawatankuasa Ganjaran telah bermesyuarat sebanyak
sembilan (9) kali sepanjang lapan belas (18) bulan tempoh
kewangan yang dikaji dengan butiran kehadiran setiap ahli
seperti berikut:
Remuneration Committee
The Remuneration Committee currently consist of three (3)
Non-Executive Directors, [two (2) of whom are Independent]
and one (1) Executive Director. The current Chairman of the
Committee is Encik Mahadzir Azizan, an Independent NonExecutive Director. The Remuneration Committee met nine
(9) times during the eighteen (18) months financial period
under review with details of meetings’ attendance of each
member as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
9/9
100
(Dilantik sebagai Ahli pada 15 Mei 2010/Appointed as Member on 15 May 2010) 3/4
75
Y. Bhg. Dato’ Mohamed Hassan Md Kamil 9/9
100
(Dilantik pada 15 Mei 2010/Appointed on 15 May 2010) 3/4
75
(Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director
4/5
80
(Ahli sehingga 15 Mei 2010/Member up to 15 May 2010)
3/5
60
Pendedahan
Ringkasan maklumat mengenai ganjaran para Pengarah
sepanjang lapan belas (18) bulan tempoh kewangan berakhir
31 Disember 2010 adalah seperti berikut:
Yuran/Fees
Disclosure
The details of the remuneration for the Directors for the
eighteen (18) months financial period ended 31 December
2010 are as follows:
Pengarah Eksekutif/
Executive Director
(RM’000)
Pengarah Bukan Eksekutif/
Non Executive Directors
(RM’000)
Jumlah/
Total
(RM’000)
0
721
721
Gaji dan lain-lain emolumen/
5,165
0
Salaries and other emoluments
Manfaat seumpamanya/
Benefits-in-kind
Jumlah/Total
5,165
10
3
13
5,175
724
5,899
057
Ganjaran Pengarah/
Directors’ Remuneration
Jumlah Pengarah/
Number of Directors
Pengarah Eksekutif/
Executive Director
Pengarah Bukan Eksekutif/
Non Executive Directors
Dibawah/Below than RM50,000 -
1
RM50,001 – RM100,000 -
4
RM100,001 – RM150,000 -
3
RM150,001 – RM200,000 -
-
Melebihi/More than RM200,001 1
-
Jumlah/Total 1
8
PEMEGANG SAHAM
SHAREHOLDERS
Dialog antara Syarikat dan para Pelabur
Takaful Malaysia sedar akan kepentingan untuk sentiasa
memaklumkan kepada para pemegang saham berkenaan
semua perkembangan utama Takaful Malaysia dari semasa
ke semasa. Pengerusi dan Pengarah Urusan Kumpulan
mengadakan perbincangan dengan pemegang saham
sekurang-kurangnya sekali (1) setahun semasa Mesyuarat
Agung Tahunan. Selain itu, pelbagai pendedahan dan
pengumuman dibuat kepada Bursa Malaysia termasuk
keputusan suku tahunan, laporan setengah tahunan dan
keputusan tahunan bagi memudahkan menyebaran maklumat
kepada pemegang saham. Tambahan lagi, maklumatmaklumat lain mengenai Syarikat boleh diperolehi di laman
web Takaful Malaysia, iaitu www.takaful-malaysia.com.my.
Dialogue between the Company and Investors
Takaful Malaysia recognizes the importance to keep the
shareholders well-informed of all major developments of
Takaful Malaysia on a timely basis. The Chairman and Group
Managing Director hold discussions with shareholders at
least once (1) a year during the Annual General Meeting.
Additionally, various disclosures and announcements made
to Bursa Malaysia including quarterly, semi-annual returns
and annual results facilitate the dissemination of information
to the shareholders. In addition, other information about
the Company is available on Takaful Malaysia’s website,
www. takaful-malaysia.com.my.
Mesyuarat Agung Tahunan
Mesyuarat Agung Tahunan adalah forum utama bagi
dialog dengan pemegang saham. Selain dari agenda biasa
untuk Mesyuarat Agung Tahunan, Lembaga Pengarah akan
membentangkan laporan prestasi dan pencapaian perniagaan
seperti yang dinyatakan dalam Laporan Tahunan dan memberi
peluang kepada pemegang saham untuk mengemukakan
soalan mengenai aktiviti perniagaan Kumpulan.
Bagi pemilihan semula para Pengarah, Lembaga Pengarah
akan memastikan maklumat sepenuhnya dimaklumkan
menerusi notis mesyuarat berhubung para Pengarah yang
akan bersara dan mana-mana Pengarah yang menawarkan
diri untuk berkhidmat sekiranya dilantik semula.
Setiap perkara urusan khas yang terkandung dalam notis
mesyuarat akan disertakan dengan penyata penerangan bagi
resolusi yang dicadangkan untuk memudahkan pemahaman
sepenuhnya dan penilaian terhadap isu berkaitan.
The Annual General Meeting
The Annual General Meeting is the principal forum for
dialogues with shareholders. Besides the normal agenda for
the Annual General Meeting, the Board presents the progress
and performance of the business as contained in the Annual
Report and provides opportunities for shareholders to raise
questions pertaining to the business activities of the Group.
For re-election of Directors, the Board will ensure that full
information is disclosed through the notice of meeting
regarding directors who are retiring and who are willing to
serve if re-elected.
Each item of special business included in the notice of the
meeting will be accompanied by an explanatory statement
for the proposed resolution to facilitate full understanding
and evaluation of issues involved.
058
AKAUNTABILITI DAN AUDIT
ACCOUNTABILITY AND AUDIT
Laporan Kewangan
Lembaga Pengarah perlu memastikan yang penyata
kewangan tahunan dan pengumuman suku tahunan kepada
pemegang saham disediakan selaras dengan piawaian
perakaunan yang diluluskan dan membentangkan penilaian
yang seimbang dan boleh difahami mengenai kedudukan
dan prospek Kumpulan. Jawatankuasa Audit membantu
Lembaga Pengarah memastikan ketepatan dan kelengkapan
maklumat dengan mengkaji dan mencadangkan mengguna
pakai maklumat bagi tujuan pendedahan.
Financial Reporting
The Board ensures that the annual financial statements and
quarterly announcements to shareholders are prepared in
accordance with approved accounting standards and present
a balance and understandable assessment of the Group’s
position and prospects. The Audit Committee assists the
Board in ensuring accuracy and adequacy of information by
reviewing and recommending for adoption information for
disclosure.
Penyata Tanggungjawab Para Pengarah Berkenaan Penyata
Kewangan
Menurut Akta Syarikat, 1965, Lembaga Pengarah perlu
menyediakan penyata kewangan bagi setiap tahun kewangan
yang memberi gambaran yang benar dan saksama mengenai
keadaan urusan hal-ehwal Syarikat dan Kumpulan sehingga
akhir tahun kewangan serta penyata hasil dan aliran tunai
Syarikat dan Kumpulan untuk tahun kewangan.
Para Pengarah memberi pertimbangan bahawa, dalam
menyediakan penyata kewangan bagi tahun berakhir
31 Disember 2010, Kumpulan telah menggunakan dasar
perakaunan yang sesuai, digunakan secara konsisten dan
disokong oleh pertimbangan dan anggaran yang wajar dan
berhemat. Para Pengarah juga telah mempertimbangkan
bahawa kesemua piawaian perakaunan yang berkaitan
dipatuhi dan mengesahkan bahawa penyata kewangan
disediakan mengikut dasar perniagaan berterusan.
Para Pengarah bertanggungjawab memastikan supaya
Syarikat menyediakan rekod perakaunan yang secukupnya
yang menunjukkan ketepatan yang munasabah mengenai
kedudukan kewangan Syarikat bagi membolehkan mereka
memastikan agar penyata kewangan tersebut mematuhi
keperluan Akta Syarikat, 1965. Para Pengarah mempunyai
tanggungjawab secara am untuk mengambil langkah yang
munasabah dalam memastikan perlindungan aset Syarikat
dan Kumpulan terpelihara dan mengelakkan serta mengesan
sebarang bentuk penipuan dan kesalahan undang-undang.
Statement of Directors’ Responsibilities in Relation to
The Directors are required under the Companies Act, 1965
to prepare financial statements for each financial year which
give a true and fair view of the state of affairs of the Company
and the Group as at the end of the financial year and of the
income statement and cash flows for the Company and the
Group for the financial year.
The Directors consider that, in preparing the financial
statements for the year ended 31 December 2010, the Group
has
used appropriate accounting policies, consistently
applied and supported by reasonable and prudent judgements
and estimates. The Directors have also considered that all
applicable accounting standards have been followed and
confirm that the financial statements have been prepared on
the going concern basis.
The Directors are responsible for ensuring that the Company
maintains adequate accounting records which disclose with
reasonable accuracy the financial position of the Company to
enable them to ensure that the financial statements comply
with the requirements of the Companies Act, 1965.
The Directors generally have the duty to take such steps as
are reasonably available to them to safeguard the assets of
the Company and the Group, and to prevent and detect fraud
and other irregularities.
059
Kawalan Dalaman dan Pengurusan Risiko
Lembaga Pengarah mengiktiraf tanggungjawabnya dan
komited untuk mengekalkan pelaksanaan sistem kawalan
dalaman dan amalan pengurusan risiko yang berwibawa.
Walau bagaimanapun, sistem tersebut hanya dapat
memberikan jaminan berpatutan dan bukannya mutlak
daripada sebarang salah nyata atau kerugian ketara.
Penyata Kawalan Dalaman yang dibentangkan di muka
surat 64 hingga 67 dalam Laporan Tahunan ini memberikan
tinjauan menyeluruh mengenai kedudukan kawalan dalaman
Kumpulan.
Hubungan dengan Juruaudit
Peranan Jawatankuasa Audit dinyatakan di muka surat
40 hingga 49. Melalui Jawatankuasa Audit Lembaga Pengarah,
Syarikat telah mewujudkan hubungan yang telus dan sesuai
dengan juruaudit Syarikat, sama ada dalaman mahupun luar.
Jika perlu, juruaudit luar akan dijemput untuk menghadiri
mesyuarat Jawatankuasa.
Penyata ini dibuat selaras dengan resolusi Lembaga Pengarah
bertarikh 18 Februari 2011.
Internal Control and Risk Management
The Board acknowledges its responsibility and is committed
in maintaining a sound system of internal control and risk
management practice. However, such system can only
provide reasonable but not absolute assurance against
material misstatements or losses.
The Statement on Internal Control furnished on pages
64 to 67 in the Annual Report provides an overview of the
state of internal control within the Group.
Relationships with the Auditors
The role of the Audit Committee is as stated on pages 40 to
49. Through the Audit Committee of the Board, the Company
has established transparent and appropriate relationship
with the Company’s auditors, both internal and external. If
required, the external auditors are invited to attend meetings
of the Committee.
This statement is made in accordance with the resolution of
the Board of Directors dated 18 February 2011.
060
Maklumat Pematuhan Tambahan
Additional Compliance Information
1. PENGGUNAAN DANA
1. UTILISATION OF PROCEEDS
The bonus issue, rights issue and private placement
exercises were completed on 16 September 2003, 27
October 2003 and 25 March 2005 respectively whilst the
ESOS was implemented on 3 November 2003.
Total proceeds from the private placement exercise of
RM10,878,000 had been fully utilised during the financial
year ended 30 June 2005 whilst the rights issue proceeds
of RM77,000,000 were fully utilised during the financial
year ended 30 June 2009.
Terbitan bonus, terbitan hak dan pelaksanaan tawaran
persendirian masing-masing telah diselesaikan pada 16
September 2003, 27 Oktober 2003 dan 25 Mac 2005
sementara ESOS telah dilaksanakan pada 3 November
2003.
Jumlah dana dari pelaksanaan tawaran persendirian yang
berjumlah RM10,878,000 telah digunakan sepenuhnya
dalam tahun kewangan berakhir 30 Jun 2005 sementara
dana dari terbitan hak sebanyak RM77,000,000 telah
digunakan sepenuhnya dalam tahun kewangan berakhir
pada 30 Jun 2009.
2. PEMBELIAN BALIK SAHAM
Sepanjang lapan belas (18) bulan tempoh kewangan,
tiada sebarang pembelian balik saham dilakukan oleh
Takaful Malaysia.
2. SHARE BUYBACKS
3. OPTIONS, WARRANTS OR CONVERTIBLE SECURITIES
3. OPSYEN, WARAN ATAU SEKURITI BOLEH TUKAR
Tiada sebarang opsyen, waran atau sekuriti boleh tukar
yang diterbitkan oleh Takaful Malaysia sepanjang lapan
belas (18) bulan tempoh kewangan.
During the eighteen (18) months financial period, there
were no share buybacks by Takaful Malaysia.
No options, warrants or convertible securities were issued
by Takaful Malaysia during the eighteen (18) months
financial period.
4. AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL
DEPOSITORY RECEIPT (GDR) PROGRAMME
4. PROGRAM AMERICAN DEPOSITORY RECEIPT (ADR)
ATAU GLOBAL DEPOSITORY RECEIPT (GDR)
5. IMPOSITIONS OF SANCTIONS/PENALTIES
Takaful Malaysia tidak menaja sebarang program ADR
atau GDR.
5. PENGENAAN SEKATAN/PENALTI
Tiada sekatan dan/atau penalti yang dikenakan ke atas
Takaful Malaysia dan subsidiari, para Pengarah atau
Pengurusannya oleh pihak berkuasa berkaitan sepanjang
lapan belas (18) bulan tempoh kewangan.
6. YURAN BUKAN AUDIT
Yuran bukan audit yang dibayar kepada juruaudit luar
sepanjang lapan belas (18) bulan tempoh kewangan
berjumlah RM308,000.
During the eighteen (18) months financial period, Takaful
Malaysia did not sponsor any ADR or GDR programme.
There were no sanctions and/or penalties imposed
on Takaful Malaysia and its subsidiaries, Directors or
Management by relevant regulatory bodies during the
eighteen (18) months financial period.
6. NON-AUDIT FEES
There were RM308,000 non-audit fees paid to external
auditors during the eighteen (18) months financial
period.
061
7. VARIASI KEPUTUSAN
Tiada variasi ketara antara keputusan untuk lapan belas
(18) bulan tempoh kewangan dan keputusan tidak diaudit
yang diumumkan sebelumnya. Takaful Malaysia tidak
mengeluarkan sebarang anggaran, ramalan atau unjuran
keuntungan bagi tahun kewangan.
7. VARIATION IN RESULTS
8. JAMINAN KEUNTUNGAN
8. PROFIT GUARANTEE
tiada jaminan keuntungan diberi oleh Takaful Malaysia.
There is no significant variation between the results for the
eighteen (18) months financial period and the unaudited
results previously announced. Takaful Malaysia did not
release any profit estimate, forecast or projections for
the financial year.
During the eighteen (18) months financial period, there
was no profit guarantee given by Takaful Malaysia.
9. KONTRAK PENTING
9. MATERIAL CONTRACTS
Tidak ada kontrak penting lain, yang bukan merupakan
kontrak yang dimeterai dalam perjalanan biasa
perniagaan, yang telah dimeterai oleh Takaful Malaysia
atau syarikat subsidiarinya dalam tempoh dua (2) tahun
sebelum tarikh Laporan Tahunan melainkan seperti yang
dinyatakan di bawah:
There are no other material contracts, not being contract
entered into in the ordinary course of business, which has
been entered into by Takaful Malaysia or its subsidiary
companies within the last two (2) years preceding the
date of this Annual Report other than as disclosed
below:
i.
i.
Perjanjian usahasama bertarikh 18 Mei 2009 di antara
Takaful Malaysia, PT Syarikat Takaful Indonesia dan
Koperasi Karyawan Takaful yang menetapkan terma
dan syarat untuk mengurus pegangan saham masingmasing di dalam PT Asuransi Takaful Keluarga akibat
daripada struktur pegangan saham yang baru di PT
Asuransi Takaful Keluarga disebabkan oleh suntikan
modal daripada Takaful Malaysia ke dalam PT Asuransi
Takaful Keluarga yang berjumlah RM21,825,000 pada
5 Mei 2009.
Joint venture agreement dated 18 May 2009 between
Takaful Malaysia, PT Syarikat Takaful Indonesia and
Koperasi Karyawan Takaful setting out the terms
and conditions that will govern their respective
shareholdings in PT Asuransi Takaful Keluarga arising
from the new shareholding structure of PT Asuransi
Takaful Keluarga as a result of the capital injection by
Takaful Malaysia into PT Asuransi Takaful Keluarga
amounting to RM21,825,000 on 5 May 2009.
10. CONTRACTS RELATING TO LOAN
10. KONTRAK BERKAITAN DENGAN PINJAMAN
Tiada kontrak berkaitan dengan pinjaman oleh Takaful
Malaysia sepanjang lapan belas (18) bulan tempoh
kewangan.
There were no contracts relating to a loan by Takaful
Malaysia during the eighteen (18) months financial
period.
11. REVALUATION OF LANDED PROPERTIES
11. PENILAIAN SEMULA HARTANAH
Berikutan penggunaan FRS 140, Kumpulan telah
mengklasifikasikan beberapa hartanahnya kepada
hartanah pelaburan yang sebelum ini diklasifikasikan
di bawah hartanah, loji dan peralatan (“PPE”) di bawah
model kos. Hartanah pelaburan kini dinyatakan pada
nilai saksama, mewakili nilai pasaran terbuka berasaskan
penilaian yang dibuat oleh penilai bertauliah yang
bebas. Keuntungan atau kerugian yang timbul daripada
perubahan nilai saksama hartanah pelaburan diiktiraf
dalam akaun untung dan rugi bagi tempoh ia terhasil.
With the adoption of FRS 140, the Group has classified
some of its properties to investment properties which
were previously classified under property, plant and
equipment (“PPE”) under the cost model. Investment
properties are now stated at fair value, representing
open-market value based on the valuation performed
by independent qualified valuers. Gains or losses arising
from changes in fair values of investment properties are
recognised in the profit and loss in the period in which
they arise.
062
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk
Urusniaga/
Nature of
Transactions
Pajakan mesin
penyalin
Lease of copier
machine
Pihak
Berkaitan yang
Berurusniaga/
Related Parties
Transacted with
Syarikat Al-Ijarah
Sdn Bhd
(Syarikat Al-Ijarah)
Pihak Berkaitan, kepentingan mereka
dan bentuk hubungan dengan
Kumpulan Takaful Malaysia/
Related Parties, their interests and
nature of relationships with the
Takaful Malaysia Group
Nilai Urusniaga
Sebenar dari 1 Julai 2009
hingga 31 Disember 2010/
Actual Transaction
Value from 1 July 2009
to 31 December 2010
(RM’000)
Syarikat Al-Ijarah adalah subsidiari milik penuh BHB.
BHB adalah pemegang saham utama Takaful Malaysia
yang memegang kepentingan ekuiti Syarikat sebanyak
65.22% pada 31 Disember 2010.
591
Dato’ Paduka Ismee Ismail dan Encik Johan Abdullah
adalah Pengarah BHB dan BIMB dan juga Pengarah
Takaful Malaysia, yang dilantik oleh BHB. Dato’ Paduka
Ismee Ismail dan Encik Johan Abdullah tidak mempunyai
sebarang kepentingan langsung atau tidak langsung
dalam BHB, BIMB dan Takaful Malaysia.
Puan Rozaida Omar adalah Pengarah BHB dan juga
Pengarah Takaful Malaysia, yang dilantik oleh BHB. Dato’
Mohamed Hassan Md. Kamil adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Puan Rozaida Omar
dan Dato’ Mohamed Hassan Md. Kamil tidak mempunyai
dalam BHB dan Takaful Malaysia.
Syarikat Al-Ijarah is a wholly owned subsidiary of BHB.
BHB is a major shareholder of Takaful Malaysia holding
an equity interest of 65.22% in the Company as at 31
December 2010.
Dato’ Paduka Ismee Ismail and Encik Johan Abdullah
are Directors in BHB and BIMB and are also Directors in
Takaful Malaysia, nominated by BHB. Dato’ Paduka Ismee
Ismail and Encik Johan Abdullah do not have any direct
or indirect interest in BHB, BIMB and Takaful Malaysia.
Puan Rozaida Omar is a director in BHB and is also a
director in Takaful Malaysia, nominated by BHB. Dato’
Mohamed Hassan Md. Kamil is a director in Takaful
Malaysia, nominated by BHB. Puan Rozaida Omar and
Dato’ Mohamed Hassan Md. Kamil do not have any direct
or indirect interest in BHB and Takaful Malaysia.
063
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk
Urusniaga/
Nature of
Transactions
Sewa bangunan
pejabat yang
dibayar kepada
Takaful Malaysia
oleh Bank Islam
Malaysia Berhad
(BIMB)
Rental of office
premises payable
to Takaful
Malaysia by Bank
Islam Malaysia
Berhad (BIMB)
Pihak
Berkaitan yang
Berurusniaga/
Related Parties
Transacted with
Pihak Berkaitan, kepentingan mereka
dan bentuk hubungan dengan
Kumpulan Takaful Malaysia/
Related Parties, their interests and
nature of relationships with the
Takaful Malaysia Group
Nilai Urusniaga
Sebenar dari 1 Julai 2009
hingga 31 Disember 2010/
Actual Transaction
Value from 1 July 2009
to 31 December 2010
(RM’000)
BIMB
BIMB adalah subsidiari 51% milik BHB. BHB adalah
pemegang saham utama Takaful Malaysia yang
memegang kepentingan ekuiti sebanyak 65.22% dalam
Syarikat pada 31 Disember 2010.
4,414
Dato’ Paduka Ismee Ismail dan Encik Johan Abdullah
adalah Pengarah BHB dan BIMB dan juga Pengarah
Takaful Malaysia, yang dilantik oleh BHB. Dato’ Paduka
Ismee Ismail dan Encik Johan Abdullah tidak mempunyai
dalam BHB, BIMB dan Takaful Malaysia.
Puan Rozaida Omar adalah Pengarah BHB dan juga
Pengarah Takaful Malaysia, yang dilantik oleh BHB. Dato’
Mohamed Hassan Md. Kamil adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Puan Rozaida Omar
dan Dato’ Mohamed Hassan Md. Kamil tidak mempunyai
dalam BHB dan Takaful Malaysia.
BIMB is a 51% owned subsidiary of BHB. BHB is a major
shareholder of Takaful Malaysia holding an equity interest
of 65.22% in the Company as at 31 December 2010.
Dato’ Paduka Ismee Ismail and Encik Johan Abdullah
are Directors in BHB and BIMB and are also Directors in
Takaful Malaysia, nominated by BHB. Dato’ Paduka Ismee
Ismail and Encik Johan Abdullah do not have any direct
or indirect interest in BHB, BIMB and Takaful Malaysia.
Puan Rozaida Omar is a director in BHB and is also a
director in Takaful Malaysia, nominated by BHB. Dato’
Mohamed Hassan Md. Kamil is a director in Takaful
Malaysia, nominated by BHB. Puan Rozaida Omar and
Dato’ Mohamed Hassan Md. Kamil do not have any direct
or indirect interest in BHB and Takaful Malaysia.
064
Penyata Kawalan Dalaman
Penyata ini disediakan menurut Keperluan Penyenaraian
Pasaran Utama Bursa Malaysia Securities Berhad berkaitan
dengan Pematuhan Kumpulan terhadap Prinsip dan
peruntukan-peruntukan Amalan Terbaik yang berkaitan
dengan kawalan dalaman seperti yang digariskan di dalam
Kod Urus Tadbir Korporat Malaysia (“Kod”).
This statement is made pursuant to the Main Market Listing
Requirements of Bursa Malaysia Securities Berhad with
regard to the Group’s compliance with the Principles and
Best Practices provisions relating to internal controls as
stipulated in the Malaysian Code on Corporate Governance
(“the Code”).
Tangungjawab Lembaga Pengarah
Board Responsibility
Lembaga
Pengarah
mengiktiraf
bahawa
mereka
bertanggungjawab sepenuhnya terhadap persekitaran
kawalan dalaman dan keberkesanannya dalam menjaga
kepentingan-kepentingan pemegang-pemegang saham dan
aset-aset Kumpulan.
The Board acknowledges its overall responsibility for
the internal control environment and its effectiveness in
safeguarding shareholders’ interests and Group’s assets.
Sistem kawalan dalaman turut memenuhi keperluan untuk
operasi-operasi perniagaan yang berkesan dan cekap,
laporan kewangan yang baik dan prosedur-prosedur kawalan,
serta pematuhan terhadap undang-undang dan peraturanperaturan yang berkaitan. Lembaga Pengarah turut mengakui
bahawa penyemakan terhadap sistem kawalan dalaman
Kumpulan adalah usaha yang jitu dan berterusan, dirangka
untuk mengurus dan menghalang risiko kegagalan untuk
mencapai objektif-objektif perniagaan. Sewajarnya, sistem
kawalan dalaman Kumpulan turut memberikan jaminan yang
munasabah keatas salah nyata atau kerugian yang ketara.
Proses-Proses Kawalan Dalaman Utama
Proses-proses kawalan dalaman utama yang telah ditubuhkan
oleh Lembaga Pengarah dalam menyemak kecukupan serta
integriti sistem kawalan dalaman termasuk pematuhan
kepada undang-undang, peraturan-peraturan, syarat-syarat,
arahan-arahan dan garis panduan-garis panduan adalah
seperti berikut :
Rangka Kerja Pengurusan Risiko
Lembaga Pengarah mengakui bahawa mengenal pasti dan
mengurus risiko utama memainkan peranan penting dan
merupakan asas dalam mencapai objektif-objektif perniagaan
Kumpulan serta dalam menguruskan operasi hariannya.
Bagi mencapai objektif-objektif tersebut, Lembaga Pengarah
telah menyediakan Rangka Kerja Pengurusan Risiko Seluruh
Perniagaan (“ERM”) dalam Kumpulan bagi memastikan supaya
wujud proses yang berterusan bagi mengenalpasti, menilai,
memantau dan mengurus pendedahan risiko utama yang
sememangnya lazim dalam operasi perniagaannya. Kumpulan
telah menubuhkan struktur proses pengurusan risiko yang
mana peranan serta tanggungjawab Lembaga Jawatankuasa
Pengurusan Risiko (“RISCO”) dan Jawatankuasa Pengurusan
Risiko (“MRC”) adalah dinyatakan secara jelas.
The system of internal control addresses the need for an
effective and efficient business operations, sound financial
reporting and control procedures, and compliance with
relevant laws and regulations. The Board also recognises
that reviewing the Group’s system of internal control is
a concerted and continuing process, design to manage
and appropriately mitigate the risk of failure in achieving
business objectives. Accordingly, the Group’s system of
internal control provides reasonable assurance against
material misstatement or loss.
Key Internal Control Processes
The key internal control processes that the Board has
established in reviewing the adequacy and integrity of
the system of internal control, including compliance with
applicable laws, regulations, rules, directives and guidelines,
are as follows:
Risk Management Framework
The Board acknowledges the identification and the
management of principal risks play an important and integral
part in achieving the Group’s business objectives and the
management of its daily operations.
In pursuing these objectives, the Board has put in place
an Enterprise Wide Risk Management (“ERM”) framework
within the Group to ensure there is an on-going process
of identifying, evaluating, monitoring and managing
the significant risk exposures inherent in its business
operations. The Group has established a structured risk
management process of which the roles and responsibility
of Risk Management Committee of the Board (“RISCO”) and
Management Risk Committee (“MRC”) are clearly spelt out.
065
Risiko peringkat korporat yang telah dikenalpasti dalam
Rangka Kerja ERM termasuklah risiko strategik, risiko insuran,
risiko kewangan dan risiko operasi. Profil risiko terkini yang
lengkap telah dikaji/diluluskan oleh RISCO dan MRC pada
bulan Ogos 2010 dan seterusnya dikaji pada setiap suku
tahun. Menyedari bahawa Pengurusan Penerusan Perniagaan
(“BCM”) adalah komponen penting dalam Rangka Kerja
pengurusan risiko secara keseluruhan, Syarikat telah
menubuhkan Rangka kerja Pengurusan Penerusan Perniagaan
pada bulan Ogos 2010. Syarikat juga telah menjalankan dua
ujian pemulihan bencana ke atas kerangka utama sistem
teknologi maklumat. Sepanjang tempoh kewangan, beberapa
ujian simulasi krisis berskala penuh telah dijalankan yang
melibatkan pergerakan operasi dari Dataran Kewangan Darul
Takaful (ibu pejabat) dan beberapa cawangan yang lain ke
tapak pemulihan terpilih.
The corporate level risks identified in the ERM framework
include strategic risk, insurance risk, financial risk and
operational risk. The complete updated risk profiles were
reviewed/approved by the RISCO and MRC in August 2010
and subsequent updates are reviewed on a quarterly basis.
Given that Business Continuity Management (“BCM”) is the
key component of the overall risk management framework,
the Company has established a Business Continuity
Management Framework in August 2010. The Company has
also conducted two IT disaster recovery testings on the
production main server. During the financial period, several
full scale crisis simulation exercises on business continuity
were carried out that involved the mobilisation of operation
from Dataran Kewangan Darul Takaful (Head Office) and
selected branches to the respective designated recovery
sites.
Fungsi Audit Dalaman
Internal Audit Function
Bahagian Audit Dalaman (“IAD”) membantu Lembaga
Pengarah
dan
Jawatankuasa
Audit
menjalankan
tanggungjawab mereka. Audit Dalaman berfungsi untuk
memberikan jaminan ke atas keberkesanan dan kelancaran
sistem kawalan dalaman yang dilaksana oleh pihak
pengurusan. Pelan Audit Tahunan dibangunkan dari penilaian
terhadap kepentingan risiko, pendedahan dan strategi
Kumpulan. IAD juga menyiasat kejadian penipuan, pemalsuan
serta memberikan cadangan-cadangan kepada Jawatankuasa
Audit untuk menghalang pengulangan semula. Perlaksanaan
pelan tindakan pengurusan yang dirangka untuk menghalang
kelemahan kawalan yang telah diperakui sepanjang tempoh
kewangan dipantau melalui kajian susulan.
The Internal Audit Division (“IAD”) assists the Board and
Audit Committee in the discharge of their responsibilities.
The internal audit function provides assurance on the
efficiency and effectiveness of the internal control systems
implemented by management. An annual audit plan is
developed based on an assessment of risk priorities,
exposures, and business strategies of the Group. IAD also
investigates incidents of fraud, malpractices and makes
necessary recommendation to the Audit Committee to
impede recurrence. The implementation of management
action plans to address the control lapses noted during the
financial period are monitored through follow-up reviews.
Jawatankuasa juga mengkaji dan meluluskan Pelan Audit
Tahunan, laporan-laporan serta temuan-temuan termasuk
susulan oleh Audit Dalaman. Mereka juga mengkaji tindakan
yang diambil ke atas temuan-temuan kawalan dalaman yang
dikenalpasti di dalam laporan-laporan yang disediakan oleh
juruaudit luar dan badan-badan penguatkuasaan semasa
mesyuarat-mesyuarat mereka serta menilai kesan ke atas
keberkesanan dan kecukupan sistem kawalan dalaman
Kumpulan.
Unsur-Unsur Kawalan Dalaman Utama
Unsur-unsur utama kawalan dalaman yang diwujudkan oleh
Lembaga Pengarah bagi menyediakan kawalan dalaman yang
berkesan termasuk pematuhan terhadap undang-undang,
peraturan-peraturan dan garis panduan-garis panduan adalah
seperti berikut:
•
Struktur Organisasi
Kumpulan telah membentuk sebuah struktur organisasi
yang tersusun dengan had-had tanggungjawab dan
akauntabiliti yang jelas serta pengagihan kuasa yang
bertakrif kepada Jawatankuasa-jawatankuasa Lembaga
Pengarah dan Pengurusan.
The Committee reviews and approves the Annual Audit Plan,
reports and findings including the follow-ups of the Internal
Auditors. They also review the actions taken on internal
control issues identified in reports prepared by External
Auditors and Regulatory Bodies during their meetings and
consider the impact on the effectiveness and adequacy of
the Group’s internal control system.
Key Elements of Internal Control
The key elements of internal control that the Board has
established which provide effective internal controls
including compliance with applicable laws, regulations and
guidelines are as follows:
•
Organisational Structure
The Group has established a well-defined organisational
structure with lines of responsibility and accountability
with a defined delegation of authority of Committees of
the Board and Management.
066
• Had Kuasa
Had kuasa yang ditakrif dengan jelas telah diluluskan
oleh Lembaga Pengarah dan telah dilaksanakan dalam
bidang Pengunderaitan, kelulusan Tuntutan, Pelaburan
dan proses perniagaan yang lain.
•
Limit of Authorities
A clearly defined limit of authorities has been approved
by the Board and implemented in the areas of
Underwriting, Claims approval, Investments and other
business process.
• Prosedur Operasi Piawai
Prosedur Operasi Piawai yang mengawal seluruh
proses perniagaan seperti kewangan, sumber manusia,
tuntutan dan pelaburan dalam organisasi telah disemak
semula sepanjang tempoh kewangan yang dikaji bagi
menyesuaikan perubahan yang berlaku pada persekitaran
perniagaan, kehendak penguatkuasaan dan halatuju
strategik syarikat.
•
Standard Operating Procedures
The Standard Operating Procedures that govern the key
business processes such as finance, human resources,
claims, investments, within the organisation have been
revised during the financial period to accommodate
changes to the business environment, regulatory
requirements and strategic direction of the Company.
•
New Product Development Framework
A new Product Development Framework has been
established in April 2010 to ensure that the interests of
all stakeholders are protected when new products are
introduced.
•
Compliance Function
The Board has approved the Compliance Charter and
Framework setting out the compliance governance
and methodology in August 2010. All compliances
requirements, matrixes, SOPs and guidelines are posted
in the Corporate Portal – Compliance Division. A selfassessment certification exercise involving the various
divisions of the Company has been carried out in
December 2010.
•
Business/Marketing Plan and Budget process
The Group’s annual business /marketing plan and budget
are submitted to the Board for approval.
•
Financial Reporting
Management accounts/reports are tabled to the Board
for review and discussion. The public release of quarterly
reports is made after reviewed by the Audit Committee
and approved by the Board. On-going efforts are in place
to address financial control issues or risks, which include
strengthening the financial closing and reconciliation
process.
•
Rangka Kerja Pembangunan Produk Baru
Satu Rangka Kerja Pembangunan Produk Baru telah
disediakan dalam bulan April 2010 untuk memastikan
bahawa kepentingan-kepentingan pemilik saham adalah
dilindungi apabila produk-produk baru diperkenalkan.
•
Fungsi Pematuhan
Lembaga Pengarah telah meluluskan Piagam dan
Rangka Kerja Pematuhan yang menggariskan pematuhan
urus tadbir dan kaedah pada bulan Ogos 2010. Semua
kehendak pematuhan, matriks, prosedur operasi piawai
dan garis panduan telah dimuatkan dalam Portal Korporat
– Bahagian Pematuhan. Latihan pengesahan pengkajiansendiri yang berkaitan dengan bahagian-bahagian dalam
Syarikat telah dijalankan pada bulan Disember 2010.
•
Pelan Perniagaan/Pemasaran dan proses Belanjawan
Pelan perniagaan/pemasaran serta belanjawan tahunan
Kumpulan dibentangkan kepada Lembaga Pengarah
untuk kelulusan.
•
Laporan Kewangan
Akaun pengurusan/laporan dibentangkan kepada
Lembaga Pengarah untuk dikaji dan dibincangkan.
Penyebaran laporan suku tahunan kepada orang awam
dilakukan selepas ia dikaji oleh Jawatankuasa Audit dan
diluluskan oleh Lembaga Pengarah. Usaha berterusan
turut dijalankan untuk menangani isu-isu kawalan
kewangan atau risiko-risiko termasuk pengukuhan
terhadap proses penutupan kewangan dan pelarasan.
067
•
Sistem Teknologi Maklumat
Jawatankuasa Pemandu IT
Jawatankuasa Pemandu IT telah ditubuhkan untuk
mengawasi pembangunan IT yang menyediakan pihak
pengurusan pengawalan ke atas fungsi IT di dalam
Syarikat. Jawatankuasa Pemandu IT dipengerusikan
oleh Pengarah Urusan Kumpulan. Jawatankuasa ini
bertanggungjawab untuk meluluskan perbelanjaan
berkaitan IT yang besar mengikut had yang telah
ditetapkan dan memantau kemajuan projek yang telah
diluluskan, merumuskan polisi and pelan strategik IT.
Rangka Kerja Pengurusan Data
Seperti yang ditentukan oleh Garis Panduan BNM, Rangka
Kerja Pengurusan Data telah ditubuhkan pada November
2009. Rangka Kerja ini merangkumi proses-proses serta
kawalan-kawalan yang berkaitan dengan sekuriti dan
integriti data.
Jawatankuasa Pemandu Projek IT
Jawatankuasa Pemandu Projek IT dipengerusikan oleh
Pengarah Urusan Kumpulan. Jawatankuasa yang terdiri
dari wakil-wakil daripada IT dan pengguna peniagaan,
mengawasi prestasi dan pembangunan projek IT yang
berkaitan dengan perniagaan sepanjang tempoh
kewangan.
Kesimpulan
Walaupun terdapat kelemahan kawalan yang dikenal pasti
dalam proses-proses perniagaan tertentu dalam Kumpulan,
namun tiada sebarang kegagalan kawalan atau kelemahan
ketara yang menyebabkan kerugian besar yang memerlukan
pendedahan dalam laporan tahunan Kumpulan bagi tempoh
kewangan yang dikaji.
Penyata ini disediakan selaras dengan resolusi Lembaga
Pengarah bertarikh 28 Mac 2011.
Penyemakan Penyata oleh Juruaudit Luar
Seperti yang dikehendaki oleh para 15.23 Keperluan
Penyenaraian Pasaran Utama Bursa Malaysia Securities
Berhad, Juruaudit luar telah menyemak Penyata Kawalan
Dalaman ini. Semakan ini telah dilakukan selaras dengan
Recommended Practice Guide (“RPG”) 5 yang telah
dikeluarkan oleh Institut Akauntan Malaysia. Berdasarkan
semakan mereka, Juruaudit luar telah melaporkan kepada
Lembaga Pengarah bahawa tiada sebarang perkara yang
sampai ke perhatian mereka yang boleh menyebabkan
mereka menganggap bahawa penyata ini tidak konsisten
dengan kefahaman mereka mengenai proses yang diguna
pakai oleh Lembaga Pengarah dalam mengkaji semula
kecukupan dan integriti kawalan dalaman Kumpulan. RPG 5
tidak memerlukan pertimbangan Juruaudit luar serta mereka
juga tidak perlu menilai samada Penyata ini merangkumi
segala risiko-risiko dan kawalan-kawalan, atau memberikan
pendapat tentang keberkesanan prosedur-prosedur risiko
dan kawalan-kawalan Kumpulan.
•
Information Technology System
IT Steering Committee
IT Steering Committee has been established to oversee
the development of Information Technology (IT) that
provides management an oversight of the IT function
within the Company. IT Steering committee is chaired
by the Group Managing Director. The committee is
responsible for authorising major IT expenditures within
the approved limits, monitoring approved IT projects,
formulating IT policies and IT strategic plans.
Data Governance Framework
As prescribed by BNM guidelines, the data governance
framework was established in November 2009. The
framework covers processes and related controls over
data security and integrity.
IT Project Steering Committee
IT Project Steering Committee is chaired by the
Group Managing Director. The Committee consists of
representatives from IT and business users, oversees
the progress and development of business related IT
project during the financial period.
Conclusion
Although control lapses were identified for certain business
processes within the Group, there were no significant
control failures or weaknesses that has resulted in material
loss that requires disclosure in the Group’s annual report for
the financial period under review.
This statement is made in accordance with the Board of
Directors resolution dated 28 March 2011.
Review of the Statement by External Auditors
As required by para 15.23 of Bursa Malaysia Securities
Berhad Main Market Listing Requirements, the External
Auditors have reviewed this Internal Control Statement. The
review was performed in accordance with Recommended
Practice Guide (“RPG”) 5 issued by the Malaysian Institute
of Accountants. Based on their review, the External Auditors
have reported to the Board that nothing has come to their
attention that causes them to believe that this Statement
is inconsistent with their understanding of the process
the Board has adopted in the review of the adequacy and
integrity of internal control of the Group. RPG 5 does not
require the External Auditors to and they did not consider
whether this Statement covers all risks and controls, or to
form an opinion on the effectiveness of the Group’s risk and
control procedures.
068
Professional
Our sacrifice to achieve the standards and promises
that we deliver to our customers.
069
070
Penyata Pengerusi
Dengan nama Allah,
yang Maha Pengasih,
lagi Maha Penyayang,
Assalamualaikum
Warahmatullahi
Wabarakatuh.
In the Name of Allah, the
Most Compassionate,
the Most Merciful,
Assalamualaikum
Warahmatullahi
Wabarakatuh.
Saya dengan sukacitanya membentangkan
Laporan Tahunan dan Penyata Kewangan
yang telah diaudit bagi tahun kewangan
ke-25 yang berakhir pada 31 Disember 2010.
It is a great honour to bring you the Annual
Report and Audited Financial Statements for
the twenty-fifth (25th) financial year ended
31 December 2010.
Penyata Pengerusi
Para Pemegang Saham yang dihormati sekalian,
Dear Shareholders,
Ini adalah Laporan pertama selepas penjenamaan semula
sempena ulang tahun ke-25 Takaful Malaysia pada
November 2009. Syarikat telah melabur sebanyak RM15
juta bagi kempen yang telah dirancang dan dilaksana
dengan
lancar.
Pengubahsuaian
pejabat-pejabat
cawangan kami telah berjaya meletakkan Takaful Malaysia
sebagai Syarikat yang Cergas, Moden dan Bertenaga
berlandaskan prinsip Syariah. Objektif kempen adalah
untuk memastikan nilai dan jenama Syarikat kekal tinggi
pada tahun-tahun yang akan datang. Pelaksanaannya
termasuklah:-
This is our first Report to you since we launched our
rebranding exercise in conjunction with the 25th
anniversary of Takaful Malaysia in November 2009. The
Company invested RM15 million on a well-planned and
smoothly executed campaign and refurbishment of our
branches which successfully positioned Takaful Malaysia
as a Shariah-compliant Company that is Young, Modern
and Energetic. The objective of the campaign strategy
was to ensure that the Company’s value and brand
remain elevated in the years to come. The implementation
included:-
•
Pelancaran identiti korporat Takaful Malaysia yang
baru telah dikomunikasikan dengan efektif. Identiti
baru ini dipamerkan di 13 Cawangan Platinum serta di
semua cawangan di seluruh negara. Pelanggan kami
kini boleh pergi ke mana-mana cawangan Takaful
Malaysia bagi merasai budaya korporat kami yang
mesra dan lebih bertenaga.
•
The launch of a new corporate identity that effectively
communicated the dynamism of Takaful Malaysia.
This new identity is now reflected in all 13 Platinum
Branches as well as all other branches throughout
the country. Our customers can now walk into any of
Takaful Malaysia’s branch office and immediately feel
the warmth and vibrancy of our corporate culture.
•
Langkah-langkah proaktif dalam memastikan identiti
baru kami lebih menyerlah juga telah diambil dengan
menukar papan tanda iklan dan papan tanda di semua
cawangan kami. Pelbagai aktiviti telah dilaksanakan,
antaranya pelekat kereta, pengiklanan dan aktiviti
yang melibatkan pihak media.
•
Proactive measures to ensure visibility of the new
identity from outdoor billboards to signages in all our
branches. Various media and on-ground activities
such as car stickers, flag lines and advertising were
also employed.
•
•
Pakaian korporat baru juga telah diperkenalkan bagi
menaikkan semangat kakitangan dan membolehkan
mereka menjiwai jenama tersebut. Antaranya jaket,
pin kolar, lanyard, skaf dan tali leher.
Attractive corporate attires were introduced to
motivate the staff, allowing them to live and wear
the new brand. The attires include jackets, lapel pins,
lanyards, head scarves and ties.
•
•
Memperkenalkan Pelopor Jenama dan kakitangan
contoh yang dapat membimbing dan memberi
inspirasi kepada rakan-rakan mereka untuk “menjiwai
jenama baru”. Pelopor-pelopor jenama ini dilatih dan
dilengkapi dengan kit latihan untuk memudahkan
penyebaran nilai teras jenama dengan efektif.
Introduction of Brand Leaders -- exemplary staff
members who can lead and inspire their colleagues
to “live the new brand”. These brand leaders have
been trained with the necessary skills and new
brand communication kits to facilitate effective
dissemination of the brand’s core values.
•
•
Memperkenalkan Manual Jenama bagi memastikan
semangat dan pengetahuan tentang jenama
disebarkan dengan efektif kepada semua kakitangan.
Manual ini menggariskan sikap kakitangan ideal yang
diinginkan oleh Syarikat untuk menjadi Pilihan Utama
Insurans.
Introduction of the Brand Manual to ensure that
the passion for and knowledge about the brand
are passed down effectively to all employees. This
manual details the ideal staff behaviour desired by
the Company in order to achieve its goal of becoming
the Preferred Choice of Insurance.
071
072
Penyata Pengerusi
Saya juga berbesar hati ingin melaporkan bahawa
langkah penjenamaan semula ini telah menghasilkan
impak yang positif, di mana Syarikat kini lebih menonjol
dan mencapai kesedaran jenama yang lebih tinggi dalam
industri dan pasaran. Keyakinan orang ramai terhadap
Syarikat juga meningkat dengan ketara. Selain itu, kita
telah berjaya membentuk ramai rakan niaga pemasaran
silang dengan syarikat-syarikat daripada industri yang
berbeza. Takaful Malaysia kini merupakan jenama
yang dikenali oleh 1Malaysia serta mempunyai lebih
ramai kakitangan, pelanggan dan ejen yang juga bukan
beragama Islam. Kami menggunakan kelebihan profil
jenama kami yang tinggi untuk membuat perubahan
kepada kaedah pemasaran, termasuk memperkenalkan
produk “1Malaysia” yang disasarkan kepada masyarakat
berbilang kaum. Inisiatif-inisiatif ini merupakan petunjuk
tahap keseriusan Syarikat dalam menyokong konsep
1Malaysia yang diperkenalkan oleh Kerajaan.
Identiti baru korporat kami yang dinamik ini juga
menyemai rasa bangga dan bersemangat terhadap
tugasan di kalangan kakitangan dan ejen Takaful
Malaysia. Kami sentiasa mengiktiraf kakitangan kami
sebagai aset terbaik dan ianya amat bermakna apabila
mereka menjiwai jenama dengan semangat baru ini.
Sepanjang kempen penjenamaan semula ini, komitmen
kami tetap kekal malah semakin kukuh. Takaful Malaysia
akan terus memenuhi keperluan insurans semua rakyat
Malaysia serta ingin menjadi majikan pilihan. Selain itu,
Takaful Malaysia akan sentiasa menjaga kepentingan
dan pelaburan para pemegang saham dalam cara yang
paling menguntungkan.
I am very pleased to report that the rebranding exercise
has had a profound positive effect, as we achieved
greater visibility and brand awareness in the industry
and the market. Public confidence in the Company has
increased significantly. In addition, we have been able to
establish many cross-marketing partnerships with other
companies from other industries. Takaful Malaysia is now
a familiar brand to 1Malaysia with an increased number of
non-Muslim staff, customers and agents. We leveraged
on our higher brand profile to make changes to our
marketing approach, which includes the introduction of
“1Malaysia” products targeted at our multi-racial society.
These initiatives are an indication of the Company’s
seriousness in supporting the Government’s 1Malaysia
concept.
Our dynamic new corporate identity has also infused the
staff and agents of Takaful Malaysia with even greater
pride and dedication to their duties. We have always
recognised our staff as our greatest asset and it is very
rewarding to see how they have embraced the revitalised
brand.
Throughout the rebranding campaign, our commitments
remained constant, even strengthened. Takaful Malaysia
will continue to satisfy all Malaysians’ insurance needs
while becoming the employer of choice. Furthermore,
Takaful Malaysia will keep on safeguarding shareholders’
value and investment in the most profitable manner as
possible.
073
Penyata Pengerusi
PENGANUGERAHAN
Dalam masa tujuh bulan kempen penjenamaan, Takaful
Malaysia telah dicalonkan dan berjaya memenangi
beberapa anugerah jenama. Antara anugerah yang
dimenangi ialah:-
•
Global Award (Diamond Winner Category) for the
2nd Global Awards 2009 in January 2010. At this
ceremony, Y.Bhg. Dato’ Mohamed Hassan Kamil, the
Group Managing Director was also named as the
recipient of the “Smart Entrepreneur” Award.
•
BrandLaureate Award in the Corporate Branding
Category for Best Brands in Financial ServicesTakaful Insurance in March 2010.
•
Anugerah ‘Pelaksana Termaju Q-Radar’ 2010, yang
diadakan bersempena Persidangan Alumni TricorRoots Consulting’s Trailblazer yang berprestij pada
bulan Julai 2010. Anugerah ini mengiktiraf keupayaan
kami dalam melaksanakan program pengurusan risiko
yang komprehensif.
Most Advanced Implementer of Q-Radar’ Award
2010, held in conjunction with the prestigious TricorRoots Consulting’s Trailblazer Alumni Conference in
July 2010. This award recognizes our sound capability
in implementing a comprehensive risk management
programme.
•
Takaful Malaysia dianugerahkan keahlian Kelab
Bilion Ringgit The Edge. Kelab Bilion Ringgit serta
anugerah tersebut diberikan oleh The Edge, akhbar
perniagaan dan pelaburan mingguan unggul di
Malaysia. Untuk layak menjadi ahli Kelab Bilion
Ringgit The Edge, Syarikat hendaklah disenaraikan
di Bursa Malaysia dengan permodalan pasaran atau
perolehan sekurang-kurangnya RM1 bilion.
Takaful Malaysia was awarded the membership for
The Edge Billion Ringgit Club. The Billion Ringgit
Club and accompanying awards are established by
The Edge, Malaysia’s leading business and investment
weekly. In order to qualify for the membership of The
Edge Billion Ringgit Club, the Company needs to be
listed on Bursa Malaysia with a market capitalization
or turnover of at least RM1 billion.
•
On 22 December 2010, Takaful Malaysia also clinched
the Financial Institution National Language Prize
2010 organised by Dewan Bahasa dan Pustaka (DBP)
in collaboration with Bank Negara Malaysia (BNM).
•
Anugerah Global (Kategori Pemenang Intan), bagi
Anugerah Global 2009 ke-2 pada bulan Januari
2010. Y.Bhg. Dato’ Mohamed Hassan Kamil, Pengarah
Urusan Kumpulan, telah dipilih sebagai penerima
Anugerah Usahawan Bestari.
•
Anugerah
BrandLaureate
dalam
Kategori
Penjenamaan Korporat bagi Jenama Terbaik dalam
Perkhidmatan Kewangan - Insurans Takaful pada
bulan Mac 2010.
•
•
•
AN AWARD-WINNING YEAR
Within seven months of launching the new brand
campaign, Takaful Malaysia has won numerous brand
awards. These included:-
Pada 22 Disember 2010, Takaful Malaysia juga
merangkul Hadiah Bahasa Kebangsaan Institusi
Kewangan 2010 yang dianjurkan oleh Dewan Bahasa
dan Pustaka (DBP) dengan kerjasama Bank Negara
Malaysia (BNM).
Anugerah-anugerah ini menandakan pengiktirafan
terhadap jenama unggul Syarikat, prestasi perniagaan
yang membanggakan dan inisiatif-inisiatif CSR yang
mulia. Pencapaian yang hebat ini adalah hasil daripada
usaha keras serta sokongan yang tidak berbelah bahagi
daripada kakitangan, walaupun ketika melalui waktuwaktu sukar. Ini menandakan komitmen dan sumbangan
mereka ke arah mencapai visi kami untuk menjadi Pilihan
Utama Insurans.
These accolades serve to underline the Company’s
leading brand recognition, outstanding business
performance and noble CSR initiatives. These remarkable
results were attributed to our staff’s hard work and
unwavering support even during the tumultuous times, an
acknowledgement of their commitment and contribution
towards achieving our vision to be “the preferred choice
for insurance.”
074
Penyata Pengerusi
TAHUN TINJAUAN
Seperti industri insurans konvensional, industri Takaful
kekal kukuh di mana perniagaannya tidak tergugat akibat
kemerosotan ekonomi. Sama ada waktu senang atau
susah, orang ramai di seluruh dunia akan berjimat untuk
hari sukar, di samping melindungi diri mereka dengan
penyelesaian perlindungan yang terbaik. Aset semasa
Takaful Malaysia meningkat kepada RM4.9 bilion di
peringkat kumpulan, dari RM4.4 bilion pada Jun 2009.
THE YEAR IN REVIEW
As with the conventional insurance industry, the Takaful
industry remains a recession proof business despite the
economic meltdown. In good and bad times, people
around the world tend to save more for that rainy
day; while protecting themselves with the best wealth
protection solutions available. As a result, Takaful
Malaysia’s current asset size stands at RM4.9 billion at
group level from RM4.4 billion as at June 2009.
Walau bagaimanapun, kami berhadapan dengan pesaing
yang semakin bertambah. Pada awal September 2010,
Bank Negara Malaysia telah meluluskan empat lagi lesen
takaful keluarga baru kerana terdapat potensi besar
untuk terus meningkatkan pasaran takaful/insurans di
Malaysia. Empat syarikat Takaful usaha sama tersebut
melibatkan syarikat insurans antarabangsa yang besar
dan mereka mempunyai nilai perancangan yang kukuh
untuk terus memacu pembangunan industri takaful
keluarga di Malaysia. Elemen persaingan yang disuntik
boleh mempercepatkan lagi pembangunan industri ini
dan memperkukuhkan kedudukan Malaysia sebagai hab
kewangan Islam antarabangsa.
However, we are faced with increasing number of
competitors. In early September 2010, in view of the vast
potential to further enhance takaful/insurance penetration
in Malaysia, Bank Negara Malaysia issued four new family
takaful licences. These four latest Takaful joint ventures
involved large international insurance players and they
have strong value propositions to further drive the
development of the family takaful industry in Malaysia.
These competitive elements injected into the industry
will surely accelerate the pace of industry development
and reinforce Malaysia’s position as an international
Islamic financial hub.
Walaupun terdapat pertambahan dalam persaingan,
Takaful Malaysia terus berpandangan jauh dan
memperkenalkan saluran pemasaran agensi runcit baru
serta produk berkaitan pelaburan. Produk-produk seperti
Takaful myGraduan dan Takaful myInvest membolehkan
syarikat berdiri teguh di antara 5 pemain teratas
dalam pasaran Takaful Keluarga daripada kesemua 12
pengendali Takaful untuk jumlah sumbangan keseluruhan
dan pengurusan aset. Inisiatif dan inovasi proaktif yang
dilaksanakan adalah sejajar dengan keseluruhan produk
berkaitan pelaburan dan permintaan serta trend pasaran
saluran pemasaran yang diperlukan. Dengan adanya
pesaing-pesaing baru, insentif-insentif pasaran dapat
dipertingkatkan, inovasi produk dan program kesetiaan
ditawarkan untuk bekerjasama dengan rakan niaga
Bancatakaful; bagi memastikan perniagaan dan syer
pasaran kami kekal stabil.
Pada 2010, jumlah premium insurans hayat di Malaysia
meningkat 11.9% kepada RM8.42 bilion dari RM7.53
bilion hasil polisi berkaitan pelaburan yang merekodkan
pertumbuhan sebanyak 26.6%. Peningkatan dalam
perniagaan berkaitan pelaburan datangnya daripada
perniagaan premium tahunan, yang menunjukkan
perubahan dalam strategi oleh syarikat insurans untuk
fokus terhadap produk yang tidak memerlukan modal
yang besar.
Despite the influx of competition, Takaful Malaysia’s
foresight in introducing its new retail agency distribution
channel and investment-linked products; Takaful
myGraduan and Takaful myInvest has allowed the
company to stand firm, in the top 5 position within
the Family Takaful market -- amongst all 12 Takaful
operators for both total contributions and assets under
management. The proactive foray of initiatives and
innovations implemented were in parallel to the overall
market demands. With the newly injected contenders,
heightened marketing incentives, product innovations
and loyalty programmes were also offered to partnering
Bancatakaful partners to ensure that our business
partnership and ultimately, market share remains stable.
In 2010, the total life insurance premiums in Malaysia
grew by 11.9% to RM8.42 billion from RM7.53 billion
due to the investment-linked policies, which recorded a
26.6% growth. In particular, the growth of investmentlinked business came from annual premium businesses,
signifying the switch in strategy by insurers to focus on
less capital-intensive products.
075
Penyata Pengerusi
Bagi perniagaan premium tahunan individu, premium
tahunan untuk polisi berkaitan pelaburan melebihi
polisi tradisional dengan pertumbuhan sebanyak 37.8%
berbanding pertumbuhan sebanyak 3.3% untuk insurans
tradisional.
Walaupun
jumlah
pelanggan
yang
menyedari
kepentingan insurans hayat kini semakin meningkat,
jumlah keluaran negara kasar bagi insurans hayat adalah
2.8%, iaitu peratusan yang agak rendah berbanding
Singapura (6.1%) dan Jepun (7.5%). Kerajaan berhasrat
untuk meningkatkan angka ini kepada 4% (75% daripada
populasi) menjelang 2020 dengan memperkenalkan
pelbagai inisiatif melalui Program Transformasi Ekonomi
(ETP).
Meskipun berhadapan dengan pelbagai cabaran, Takaful
Malaysia memandang ianya sebagai satu peluang untuk
mengembangkan perniagaan Takaful keluarga dan am.
Dengan pelbagai inisiatif yang telah dirancang oleh
Kerajaan semasa tahun yang ditinjau, kami optimis
bahawa industri ini akan mencapai pertumbuhan 12%
hingga 15%, manakala kadar pertumbuhan Takaful
Malaysia dijangkakan melebihi kadar pertumbuhan
industri melalui pelaksanaan strategi kami dan pemasaran
produk yang telah diatur dengan tepat. Ini mungkin dapat
dicapai memandangkan kadar penembusan insurans
konvensional adalah sebanyak 43% berbanding hanya
11% sahaja untuk Takaful.
Sektor insurans am pula berkembang maju pada tahun
2010 dan dijangka akan tumbuh dengan pesat pada
tahun 2011 dan seterusnya. Sektor insurans Perubatan
dan Kesihatan (MHI) kekal kukuh dari segi pertumbuhan
yang dipacu oleh kesedaran pengguna yang bertambah
dan keperluan perlindungan yang tinggi daripada kos
perubatan dan perkhidmatan penjagaan kesihatan yang
semakin meningkat. Pelan insurans perubatan untuk
pekerja asing juga akan mendorong pertumbuhan sektor
MHI ini.
For individual annual premium business, annualised
premium for investment-linked policies outpaced
traditional policies by growing at a strong 37.8%
compared to a growth of 3.3% for traditional.
Although with the increasing number of consumers who
are aware of the importance of life insurance, the current
gross domestic product for life insurance stands at 2.8%,
which is relatively low as compared with other countries
like Singapore (6.1%) and Japan (7.5%). The Government
intends to increase this figure to 4% (75% of population)
by 2020 with the various initiatives based from the
Economic Transformation Programme (ETP).
Despite challenges, Takaful Malaysia sees it as an
opportunity to grow the family and general Takaful
businesses. With the various initiatives lined up by the
Government for the year, we are fairly optimistic that
the industry will achieve a 12% to 15% growth while for
Takaful Malaysia, a growth rate beyond the industry
via deployment of our pipelined strategies and niche
products. This is evidently possible, since the nation
currently sees a conventional insurance penetration rate
of 43% while for Takaful at only 11%.
On the flip side, the general insurance sector was
bullish in 2010 and again, expected to accelerate in 2011
and beyond. The Medical and Health Insurance (MHI)
sector remains strong in terms of growth driven by
growing consumer awareness and an increasing need
for protection against escalating costs of medical and
health care services. The recently-announced medical
insurance plan for foreign workers would add impetus to
the MHI sector.
076
Penyata Pengerusi
Industri insurans am merekodkan RM11.52 bilion dalam
premium kasar langsung pada 2009, menandakan
pertumbuhan sebanyak 5.7% berbanding 2008. Sehingga
suku tahun ketiga 2010, premium kasar langsung
dianggarkan berjumlah RM9.67 bilion, menunjukkan
pertumbuhan sebanyak 9% berbanding tempoh
sembilan bulan yang sama pada tahun sebelumnya.
Takaful Malaysia menduduki tempat kedua dalam arena
Takaful Am dan kami akan terus berusaha untuk merebut
kedudukan nombor satu.
Walaupun kancah yang berlaku di negara-negara yang
mempunyai kedudukan ekonomi kukuh seperti Amerika
Syarikat, Jepun dan Eropah merupakan faktor luaran, reaksi
pasaran saham tempatan ke arah sentimen sedemikian
mungkin mempunyai impak tidak langsung terhadap
industri. Situasi ini boleh menjejaskan permintaan luaran
yang akhirnya mempengaruhi pengguna dalam membuat
keputusan dan menyukarkan proses jualan.
Walau bagaimanapun, keyakinan pengguna di Malaysia
berada dalam kedudukan yang lebih tinggi disertai
dengan persekitaran kadar faedah rendah yang akan
memberikan dorongan baru bagi pengguna untuk
mencari produk bermutu tinggi seperti insurans.
Keyakinan pengguna meningkat 4 mata kepada 107
mata pada suku keempat 2010, merupakan tahap
tertinggi sejak suku ketiga 2006, menurut penemuan
terkini oleh Indeks Keyakinan Pengguna Global Nielsen
pada awal tahun ini. Penerimaan baik produk Takaful
Malaysia oleh 1Malaysia juga bertambah dan memberikan
perolehan yang lebih tinggi. Pada tahun 2006, Kerajaan
telah melancarkan Pusat Kewangan Islam Antarabangsa
Malaysia (MIFC) untuk mempromosikan Malaysia
sebagai hab utama kewangan Islam Antarabangsa
dengan lebih agresif. Takaful menjadi bahagian penting
The general insurance industry recorded RM11.52
billion in gross direct premium in 2009, representing a
growth of 5.7% over 2008. Up to the third quarter of
2010, gross direct premium estimated were at RM9.67
billion, representing a growth of 9% over the same ninemonth period the previous year. Currently positioned
at the number two in the General Takaful arena, Takaful
Malaysia will continuously work hard to gain the number
one spot.
While it is an external factor, the quagmire prevailing in
the established economies of the United States, Japan,
Europe and the reaction of the local share market
towards such sentiments may have an indirect impact
on the industry. It can cause a slowdown on external
demand that will eventually influence consumers in terms
of decision-making, thus making sales more difficult.
Nonetheless, consumers’ confidence in Malaysia was on
the uptrend coupled with low interest rate environment
that would provide a fresh impetus for consumers to
seek high-yielding products like insurance. Consumers’
confidence rose 4 points to 107 points in the fourth
quarter of 2010 to reach its highest level since the third
quarter of 2006 according to the latest findings of
Nielsen Global Consumer Confidence Index early this
year. Favourably, the acceptance of Takaful Malaysia
products by 1Malaysia was also on the uptrend with an
end result of higher turnover. In 2006, the Government
launched the Malaysia International Islamic Finance
Centre (MIFC) to aggressively promote Malaysia as
a major hub for international Islamic finance. Takaful
seems to have become a fundamental part of the
insurance landscape and is growing from strength to
strength. With the liberalisation of the financial sector
announced last year by the Prime Minister, the Takaful
077
Penyata Pengerusi
dalam landskap insurans dan kedudukannya terus
mengukuh. Melalui langkah liberalisasi sektor kewangan
yang diumumkan oleh Perdana Menteri pada tahun lalu,
pasaran Takaful dijangka akan mengalami pertumbuhan
pesat. Pertumbuhan sebanyak 20-25% setahun ini
melebihi jangkaan kami kerana pada masa sekarang
ianya merupakan pasaran baru yang masih melalui proses
pengukuhan.
Dalam persekitaran yang lebih berdaya saing, Takaful
Malaysia komited untuk meneruskan inovasi produk dan
keunggulan perkhidmatan dalam memberi khidmat yang
lebih baik kepada masyarakat melalui rangkaian terbaik
dan produk berkualiti. Maka, Takaful Malaysia telah
mengukuhkan rangka kerja pembangunan produknya
untuk menyediakan kaedah yang lebih teratur, berdisiplin
dan bersemangat. Rangka kerja yang lebih agresif
akan membolehkan syarikat memperkenalkan produk
inovatif yang memfokuskan kepada keperluan pengguna
dan memberi kedudukan nilai yang lebih baik kepada
pelanggan.
Pada masa yang sama, kami memastikan kedudukan
kewangan syarikat akan kekal mantap dan menyepadukan
amalan pengurusan risiko yang lebih baik. Rangka kerja
yang dipertingkatkan ini juga disokong oleh pelaburan
kami dalam pembinaan IT dan pembangunan modal
insan. Pelaksanaan yang sedang berjalan bagi produk
dan strategi saluran pemasaran di bawah rangka kerja ini
akan membolehkan syarikat menunjukkan prestasi yang
baik dalam persekitaran yang kompetitif ini.
Sejak 18 bulan yang lalu, kami telah meningkatkan
persekitaran operasi Takaful Malaysia dengan nyata.
Beberapa inisiatif telah diambil untuk memperbaiki
persekitaran operasi yang secara asasnya melibatkan
penambahbaikan dan penyelesaian peralatan yang tidak
digunakan dan telah wujud sejak sedekad lalu.
Tahun lalu, kami melaksanakan strategi IT yang memberi
nilai pelaburan IT dan kekal efektif untuk tahun-tahun
yang akan datang. Kami telah memulakan satu siri inisiatif
baru untuk menangani kekurangan semasa memenuhi
objektif kami untuk tahun-tahun akan datang.
Selain itu, kami juga melaksanakan inisiatif untuk
memperbaiki sistem operasi termasuklah:•
Menggantikan Portal Web Korporat dengan Microsoft
SharePoint yang terkini dan disempurnakan di
peringkat dalaman;
market is expected to experience rapid growth. This
growth is beyond our projection of 20-25% per annum
because there is at present, a nascent market which is in
the process of building up.
In this more competitive and vibrant environment, Takaful
Malaysia is committed to continue product innovation
and service excellence to serve the public with the
best range and quality of products. Therefore, Takaful
Malaysia has strengthened its product development
framework to provide a more structured, disciplined and
robust approach. The more robust framework will enable
the company to introduce innovative products focusing
on consumer needs and deliver better value propositions
for the customers.
At the same time, we are ensuring that the company
remains financially strong and incorporating better risk
management practices into the product development
process. This enhanced framework is also supported by
our investment in IT and human capital development.
Ongoing implementation of the product and distribution
channel strategies under the framework will enable
the company to perform well in this competitive
environment.
Over the last 18 months, we have significantly improved
Takaful Malaysia’s operating environment. Several
initiatives have taken place to improve the operating
environment which basically involved the refresh of
obsolete equipments and solutions that have been in
place over the last decade.
Last year, we proceeded to implement an IT strategy that
would extract the most value out of our IT investments
and remains effective in the coming years. We have
embarked on a series of new initiatives to address the
current shortfalls in order to meet our objectives in the
coming years.
On top of that, we have also implemented initiatives to
improve the operating environment which included:•
Replacing the Corporate Web Portal with the latest
Microsoft SharePoint which was accomplished
inhouse;
078
Penyata Pengerusi
•
Membangunkan Portal Intranet sebagai platform
komunikasi kepada semua kakitangan di seluruh
rangkaian Takaful Malaysia. Penyelesaian ini juga
menggunakan Microsoft SharePoint;
•
Virtualisation perkhidmatan IT untuk memenuhi
permintaan dan keperluan perniagaan yang semakin
bertambah. Pelayar maya dapat direka dan digunakan
dengan cepat apabila diperlukan;
•
Melengkapi kakitangan IT dengan latihan untuk
menyokong
perkembangan
perniagaan
dan
menyediakan perkhidmatan yang lebih baik. Semua
jawatan pengurus dan yang lebih tinggi dikehendaki
menghadiri kursus pensijilan IT serta latihan
kepimpinan dalam jangka masa yang ditetapkan;
•
Menyediakan latihan teknikal yang berkaitan
untuk kakitangan seperti pensijilan Microsoft,
pengaturcaraan Java dan pengaturcaraan Oracle.
•
Developing the Intranet Portal as a communication
platform for all our internal staff throughout the
Takaful Malaysia’s network. This solution is also riding
on Microsoft SharePoint;
•
Virtualisation of IT services in order to cope with our
growing business demands and needs. Virtual servers
can be quickly created and deployed as required;
•
Equipping IT staff with training in order to support
business growth and provide better service. All
managers and above are required to attend IT
certification as well as leadership training courses
within a fixed timeframe;
•
Providing appropriate staff members with relevant
technical training e.g. Microsoft certification, Java
programming and Oracle programming.
Untuk
terus
meningkatkan
keberkesanan
dan
kecekapan operasi, Takaful Malaysia akan melaksanakan
Pengimbasan Dokumen dan pemprosesan aliran kerja
automatik untuk semua proses operasi pada tahun 2011.
To further enhance operational effectiveness and
efficiency, Takaful Malaysia will implement Document
Scanning and automated workflow processing for all
operational processes in year 2011.
Kami juga telah bertindak untuk mengukuhkan
pematuhan dan tata urus korporat dengan pelaksanaan
seperti berikut:-
We have also acted to strengthen compliance and
corporate governance by putting the following in
place:-
•
Piagam Pematuhan dan Rangka Kerja proses dan
prosedur bagi memastikan semua proses sedia ada
dan yang akan datang mematuhi keperluan dan
pengawalan berkanun;
•
Matriks Pematuhan bagi memastikan semua garis
panduan Bank Negara Malaysia dikendalikan dan
dimiliki oleh bahagian dan jabatan yang berkenaan
untuk memudahkan pematuhan dan pengisytiharan
pengesahan pematuhan;
•
•
Merakam keluar dan mengisytiharkan “Pengesahan
Ketakpatuhan” oleh semua bahagian dan jabatan
yang bertanggungjawab terhadap pematuhan pada
setiap suku tahun kepada para Pengarah;
Mengemas kini dan menyemak semula Prosedur
Operasi Standard (SOP) di semua bahagian dan
jabatan bagi memastikan perubahan dalam struktur
organisasi dan peranan kerja, pelaksanaan sistem
baru, had pihak berkuasa dan produk serta proses
baru diambil kira dan dikemas kini;
•
A Compliance Charter and Framework of processes
and procedures to ensure all existing and future
processes comply with statutory and regulatory
requirements;
•
A Compliance Matrix to ensure that all Bank Negara
Malaysia’s guidelines are duly assigned and owned by
the relevant divisions and departments to facilitate
due compliance and declaration of confirmation of
due compliance;
•
Sign off and declaration of No-Non Compliance
Confirmation by all divisions and departments of due
compliance each quarter to the Board of Directors;
•
Updating and revising of the Standard Operating
Procedures (SOPs) of all divisions and departments
to ensure that changes in organisational structures
and job roles, new systems implemented, authority
limits and new products and processes are captured
and updated;
079
Penyata Pengerusi
•
Portal Pematuhan yang menggariskan semua
keperluan pematuhan yang boleh diakses oleh semua
kakitangan.
Bagi Sumber Manusia pula, Takaful Malaysia telah
melantik PricewaterhouseCoopers untuk melaksanakan
projek Ganjaran Penjanaan Semula pada April 2010.
Objektif projek ini adalah untuk meningkatkan usaha
kami untuk menarik, mengekal dan memberi motivasi
kepada kakitangan, terutamanya yang berpotensi dalam
Syarikat, sejajar dengan janji jenama; Muda, Moden dan
Bertenaga serta daripada maklum balas yang dikumpulkan
daripada Kaji Selidik Penglibatan Kakitangan Tahun 2009
(EES). Projek ini berjaya diselesaikan pada September
2010 dan menghasilkan penggredan kerja dan struktur
penggajian yang baru, kenaikan pangkat, pelarasan gaji
dan pengenalan kepada Skim Pengekalan Bonus.
MENCAPAI SASARAN
Takaful Malaysia menetapkan sasaran untuk meningkatkan
bahagian pasaran berdasarkan saiz aset semasa tahun
kewangan dalam tahun yang ditinjau. Untuk mencapai
sasaran ini, kami telah melancarkan beberapa strategi:Dana Simpanan Agensi
Pada Mac 2010, Takaful Malaysia telah melancarkan
Dana Simpanan Agensi (APF) selain daripada model
agensi tiga tingkat serta tiga produk Takaful yang baru
iaitu Takaful myGemilang, Takaful myInvest dan Takaful
myGraduan.
APF adalah skim persaraan yang dibentuk untuk semua
ejen syarikat supaya mencarum ke dalam akaun persaraan
khas yang membolehkan mereka untuk bersedia ke
aras gaya hidup persaraan yang selesa. Pengenalan
APF ini menandakan permulaan pelan Syarikat untuk
meningkatkan tenaga agensinya secara agresif pada
2010 dalam usahanya untuk merebut pasaran Takaful
•
A Compliance Portal detailing all compliance
requirements which is accessible by all staff.
On the Human Resource front, Takaful Malaysia had
engaged PricewaterhouseCoopers to implement the Reenergizing Rewards project in April 2010. The objective
of this project is to enhance our efforts to attract, retain
and motivate the staff, especially key talents within the
Company in line with the brand promise; Young, Modern
and Energetic as well as the feedback consolidated from
the Year 2009 Employee Engagement Survey (EES). The
project was completed in September 2010, resulting in
a new job grading and salary structure, staff promotion,
salary adjustment and introduction of a Retention Bonus
Scheme.
MEETING OUR TARGETS
Takaful Malaysia set a target of increasing the market
share based on asset size during the financial year under
review. In order to achieve this, we have put in place a
number of strategies:Agency Provident Fund
In March 2010, Takaful Malaysia launched the Agency
Provident Fund (APF) in addition to the three-tier
agency model as well as three new Takaful products
namely; Takaful myGemilang, Takaful myInvest and
Takaful myGraduan.
The APF is a form of retirement scheme created
for company’s agents to contribute into a special
retirement account, which will enable them to prepare
for a comfortable retirement lifestyle. The introduction
of the APF marked the start of the Company’s plan to
aggressively enhance its agency force in 2010, in its bid
to capture the growing Takaful market. The APF offers
080
Penyata Pengerusi
yang sedang berkembang. APF ini menawarkan ejen
Takaful Malaysia manfaat tambahan serta meningkatkan
kesetiaan dua hala denganSyarikat.
Takaful Malaysia’s agents an added benefit as well as
enhances a “two-way” sense of loyalty between the
Company and its agents.
Tambahan pula, pelancaran APF terbukti tepat pada
masanya berikutan pengumuman kerajaan baru-baru
ini mengenai Skim Persaraan 1Malaysia bagi 2 juta
usahawan.
Furthermore, the launch of the APF proved to be quite
timely, following the recent government announcement
of the 1Malaysia Retirement Scheme for 2 million
entrepreneurs.
Syarikat mengiktiraf betapa pentingnya ejen dalam
perniagaan Takaful kerana Syarikat sedar wujudnya
persaingan pasaran yang sengit dalam merekrut ejenejen terutamanya selepas Persatuan Takaful Malaysia
mengeluarkan peraturan yang berkuat kuasa 1 Januari
2009. Menurut peraturan tersebut, bakal ejen perlu
lulus Peperiksaan Asas Takaful (TBE) dan membenarkan
setiap ejen menandatangani dua Prinsipal Am dan satu
Prinsipal Keluarga.
Recognising the importance of agents in the Takaful
business, the Company is very mindful of the stiff
competition in the agency recruitment market,
particularly in light of rulings issued by the Malaysia
Takaful Association beginning 1 January 2009. These
rulings require potential recruits to pass the Takaful Basic
Examination (TBE) and allow each agent to sign up with
two General Principals and one Family Principal.
Akhir sekali, Takaful Malaysia juga sedar bahawa ejen
yang berpengalaman mungkin akan diambil oleh
syarikat-syarikat yang baru sahaja menyertai industri dan
ianya bakal menjadi ancaman sekiranya ejen tersebut
tidak dilatih dan dibekalkan dengan kemahiran dan
pengetahuan yang betul. Oleh itu, menjelang suku tahun
keempat 2011, syarikat akan membuat pelancaran rasmi
pusat pembelajaran berasaskan agensi bagi melatih dan
yang penting sekali, melaksanakan modul serta skim APF
yang sedia ada.
Selain daripada inisiatif taktikal untuk menggalakkan
kesetiaan di kalangan agensi runcit Takaful Malaysia,
banyak usaha jualan dan pemasaran berteraskan insentif
juga dilaksanakan sepanjang tahun 2010. Namun begitu,
usaha merekrut ejen-ejen yang dijalankan secara agresif
pada 2010 akan diteruskan pada 2011 dan seterusnya.
Finally, Takaful Malaysia was also aware that talent
poaching from the newly injected operators into the
fraternity would soon serve as possible threats; if its
current talents are not constantly nurtured and enhanced
with the proper skills and knowledge. Therefore, by Q4
of 2011, the company will officially launch its agency
based learning centre to deploy its coaching and most
importantly, retention modules alongside the existing
APF scheme.
Besides the tactical initiatives to impel loyalty amongst
the Takaful Malaysia’s retail agency force, many sales and
marketing driven incentives were deployed throughout
2010. Nonetheless, the recruitment efforts were
aggressive in 2010 and will persist in 2011 and beyond.
Penyata Pengerusi
Pusat Takaful myCare dan Takaful myDesks
Untuk memberi perkhidmatan yang lebih baik kepada
para pelanggan, strategi Takaful Malaysia juga
merangkumi penyusunan semula operasi keseluruhan
yang mempunyai 31 buah cawangan, 7 Pusat Takaful
myCare, 1 Pusat Runcit dan 5 Takaful myDesks di seluruh
negara. Syarikat juga bergantung kepada infrastruktur
kumpulan Tabung Haji untuk menyediakan kios, iaitu
saluran Takaful myDesks bagi memasarkan produk
dan menyediakan kaunter perkhidmatan pelanggan,
sekaligus membolehkan Syarikat mengemaskini operasi
perniagaan dan lebih fokus terhadap perkhidmatan
pelanggan.
Produk kami akan lebih mudah didapati oleh orang
ramai pelanggan melalui pelbagai rangkaian produk
yang ditawarkan oleh Bank Islam dan Tabung Haji.
Yang penting, pelanggan kami akan mendapat manfaat
daripada pertambahan pencapaian yang dipertingkatkan
untuk produk Takaful Malaysia.
Perkongsian dengan syarikat telekomunikasi
Takaful Malaysia berpadu tenaga dengan salah
sebuah syarikat telekomunikasi utama Malaysia bagi
melengkapkan ejen-ejen kami dengan penyelesaian
mudah alih ke arah kecekapan yang lebih baik. Melalui skim
ini, penyelesaian komunikasi dan penyelesaian jalur lebar
digabungkan dan disediakan untuk kakitangan, pengedar
dan rakan kongsi perniagaan bagi mendapatkan kos
dan kecekapan perniagaan yang lebih baik di samping
memperkayakan pengalaman pelanggan.
Sempena pelancaran keupayaan jualan secara mudah
alih atau e-point, penyelesaian yang diguna pakai ini
menjadi asas yang baik untuk terus membantu pengedar
kami di semua saluran dalam mempercepatkan premium
pemegang polisi dan penghantaran sijil. Takaful Malaysia
berhasrat untuk memudahkan semua pengedarnya
dengan keupayaan memeriksa status polisi pelanggan
dari jauh menjelang akhir tahun 2011.
Usaha sama yang berguna ini membolehkan Takaful
Malaysia menggunakan jalur lebar dan perkhidmatan
internet berkelajuan tinggi sepenuhnya sebagai asas
sistem jualan untuk mendapatkan sekurang-kurangnya
2,000 ejen baru.
Dengan kecekapan yang lebih tinggi kini disuntik
dalam semua aspek perniagaan, Syarikat yakin ia boleh
menceritakan tentang faedah Takaful kepada semua
rakyat Malaysia di seluruh negara.
Takaful myCare Centres and Takaful myDesks
In order to serve our customers better, Takaful Malaysia’s
strategy also included restructuring its overall operations
into 31 branches, 7 Takaful myCare Centres, 1 Retail Centre
and 5 Takaful myDesks across the country. The Company
leveraged on the Tabung Haji group infrastructure to
provide kiosks, namely the Takaful myDesk channel to
market our products and provide customer services thus
enabling our Company to better streamline the business
operations and be more customer-centric.
Our products will now be further accessible to a much
wider audience with both Bank Islam and Tabung
Haji offering an expanded range of products. Most
importantly, our customers will benefit from the increased
accessibility of Takaful Malaysia’s products.
Partnership with Telco
Takaful Malaysia joined forces with one of Malaysia’s
leading telco companies to arm our agents with mobile
solutions for greater efficiency. Under this scheme,
bundled mobile voice and broadband solutions are
provided to staff, distributors and business partners to
create better cost and business efficiency while enriching
customer experience.
With the upcoming launch of the mobile or e-point
sales capability, these implemented solutions served
as a good foundation to further assist our distributors
across all channels in expediting their certificate holders’
contributions and certificate submissions. Takaful
Malaysia aims to empower all its distributors with the
capability to check their customers’ certificate status
remotely, by end 2011.
This fruitful partnership will allow Takaful Malaysia to
fully utilise the Broadband and EDGE high-speed internet
services as a foundation sales point system to recruit at
least 2,000 new agents.
With greater efficiency injected into every aspect of the
business, the Company is confident that it can reach out
to Malaysians nationwide about the benefits of Takaful.
081
082
Penyata Pengerusi
TINJAUAN KEWANGAN
FINANCIAL OVERVIEW
PRESTASI KUMPULAN
Untuk tempoh 18 bulan berakhir 31 Disember 2010, Takaful
Malaysia mencatatkan kenaikan 97% dalam keuntungan
keseluruhannya, dari RM49.7 juta yang direkodkan pada
tahun kewangan lalu kepada RM97.9 juta. Pendapatan
operasi menunjukkan peningkatan 65% dari RM1,049.1
juta pada tahun kewangan lalu kepada RM1,728.6 juta,
hasil daripada sumbangan kasar dan pendapatan
pelaburan yang lebih tinggi. Hasil yang lebih baik ini,
walaupun dalam tempoh kewangan selama 18 bulan,
adalah sumbangan usaha keras dan komitmen pasukan
kami, keupayaan saluran pengedaran tambahan yang
baru serta kelebihan kami berbanding pengendali Takaful
yang lain melalui model Mudharabah. Saya berbesar hati
menyatakan bahawa sehingga kini, Takaful Malaysia
masih terus membayar Mudhrabah sebanyak 15% kepada
semua peserta produk Takaful Am dan Takaful Keluarga
yang terpilih, sekiranya tiada tuntutan dilakukan semasa
tempoh perlindungan.
GROUP PERFORMANCE
For the 18 months period ended 31 December 2010,
Takaful Malaysia recorded a 97% improvement in its profit
before zakat and tax from RM49.7 million recorded in the
last financial year to RM97.9 million. Operating revenue
recorded an increase of 65% from RM1,049.1 million in the
last financial year to RM1,728.6 million on improved gross
contribution and investment income. These favourable
results, albeit the 18 month financial period, were mainly
attributed to the commitment and hard work of our
team, the capabilities of our newly added distribution
channel and also our edge over other Takaful operators
via the ever popular Mudharabah model. I am pleased to
say that, to this end, Takaful Malaysia has been steadily
paying out 15% Mudharabah to all of our participants in
the General Takaful and selected Family Takaful products
should no claims incurred within the coverage period.
Keuntungan yang baik ini berjaya dicapai hasil yuran
wakalah yang lebih tinggi yang diperolehi dan pindahan
lebihan yang lebih tinggi daripada kedua-dua perniagaan
Takaful Keluarga dan Takaful Am. Lebihan yang lebih
tinggi daripada kedua-dia perniagaan tersebut disokong
oleh laba yang lebih tinggi daripada pelaburan.
The favorable profit was achieved on the back of higher
wakalah fees earned and higher surplus transfer mainly
from the Family Takaful business. The surplus from both
Family Takaful and General Takaful businesses was aided
by higher gains from investments.
PRESTASI SYARIKAT
Keuntungan Takaful Malaysia sebelum zakat dan cukai
sebanyak RM93.0 juta bagi tempoh 18 bulan yang
berakhir 31 Disember 2010, iaitu peningkatan 103%
berbanding tahun kewangan lalu, yang berjumlah
RM45.8 juta. Keuntungan yang meningkat ini, walaupun
dalam tempoh kewangan selama 18 bulan, dicapai hasil
daripada yuran wakalah yang tinggi dan pindahan
lebihan yang lebih tinggi daripada kedua-dua perniagaan
Takaful Keluarga dan Takaful Am. Laba yang lebih tinggi
daripada pelaburan menyumbang kepada lebihan yang
lebih banyak daripada kedua-dua perniagaan Takaful.
Pendapatan operasi Syarikat merekodkan peningkatan
65% dari RM871.1 juta semasa tahun kewangan lalu kepada
RM1,440.7 juta. Sumbangan kasar meningkat kepada
RM1,179.3 juta dari RM709.3 juta pada tahun kewangan
sebelumnya. Perniagaan Takaful Am merekodkan
prestasi kukuh, berkembang 81% dari RM276.3 juta
kepada RM499.5 juta. Bagi perniagaan Takaful Keluarga,
sumbangan kasar berkembang 57% dari RM433.0 juta ke
RM679.8 juta melalui pertumbuhan perniagaan Takaful
gadai janji.
COMPANY PERFORMANCE
Takaful Malaysia achieved profit before zakat and tax
of RM93.0 million for the 18 months ended 31 December
2010, an increase of 103% over the last financial year of
RM45.8 million. The improved profit was achieved, albeit
the 18 month financial period, on the back of higher
wakalah fees earned and higher surplus transfer from
both the Family Takaful and General Takaful businesses.
Higher gains from investments contributed to the higher
surplus from both Takaful businesses.
Operating Revenue of the Company recorded an
increase of 65% from RM871.1 million during the last
financial year to RM1,440.7 million. Gross contribution
grew to RM1,179.3 million from RM709.3 million in the last
financial year. The General Takaful contribution posted a
strong growth at 81%, growing from RM276.3 million to
RM499.5 million. On the Family Takaful business, gross
contribution grew 57% from RM433.0 million to RM679.8
million on the back of the Mortgage Takaful business
growth.
083
Penyata Pengerusi
Selain itu, keuntungan Syarikat yang lebih tinggi juga
adalah hasil pendapatan yang lebih baik daripada aktiviti
pelaburan yang merekodkan pertambahan 90.5% kepada
RM361.3 juta dari RM189.7 juta pada tahun kewangan
sebelumnya.
Pengukuhan ketara pendapatan pelaburan Takaful
Malaysia adalah kerana peruntukan aset strategik yang
lebih agresif dan pengurusan aktif untuk mengambil
peluang pemulihan ekonomi global dan tempatan yang
pesat selepas krisis kewangan pada 2008. Pemulihan
ekonomi yang lebih pantas daripada yang dijangka adalah
antaranya hasil daripada polisi monetari dan ransangan
fiskal yang dilaksanakan oleh pelbagai kerajaan, termasuk
Malaysia. Dengan itu, KDNK domestik meningkat 7.2%
pada 2010 selepas penurunan 1.7% yang dialami pada
2009.
Sumbangan utama pendapatan pelaburan adalah
daripada ekuiti dan Sukuk (korporat dan kerajaan)
yang merangkumi 67.3% aset pelaburan Syarikat. Tahun
kewangan yang ditinjau ini merupakan tahun yang
menarik bagi Sukuk, hasil daripada polisi monetari yang
bersesuaian dan sebaran kredit yang semakin kecil
sejajar dengan pemulihan ekonomi. Dengan sokongan
pengurusan
aktif,
portfolio
Sukuk
mencatatkan
pendapatan keseluruhan sebanyak RM218.9 juta, iaitu
pertambahan sebanyak 83.0% dari RM119.6 juta pada
tahun kewangan sebelumnya.
Sejajar dengan peruntukan aset strategik yang agresif
dalam menjangkakan pasaran ekuiti yang baik pada masa
akan datang, jumlah pendedahan bagi ekuiti meningkat
94.1% kepada RM359.8 juta dari RM185.4 juta pada
tahun kewangan sebelumnya. Dengan pilihan saham
yang berkesan dan dagangan aktif untuk mengambil
keuntungan, portfolio ekuiti merekodkan prestasi yang
membanggakan dengan pendapatan berjumlah RM73.3
In addition, the Company’s higher profit was also
attributed to the improved income from investment
activities, which recorded a 90.5% increase to RM361.3
million from RM189.7 million in the last financial year.
The significant improvement of Takaful Malaysia’s
investment income was due to more aggressive
strategic asset allocation and active management to
take advantage of rapid phase of global and domestic
economic recovery after the financial crisis experienced
in 2008. The faster than anticipated economic recovery
was among others supported by the unprecedented
monetary policy and fiscal stimulus implemented by
the various governments including Malaysia. As a result,
domestic GDP grew by 7.2% in 2010 after the decrease
of 1.7% experienced in 2009.
The main contribution of investment income was from
equity and Sukuk (corporate and government) which
constituted 67.3% of the Company’s investment assets.
It was indeed an interesting year for Sukuk mainly as
a result of the accommodative monetary policy and
credit spread tightening as the domestic economy
recovered. Supported by active management, Sukuk
portfolio recorded an overall income of RM218.9 million,
an increase of 83.0% from RM119.6 million in the previous
financial year.
In line with the aggressive strategic asset allocation in
anticipation of bullish equity market ahead, the total
exposure in equity was increased by 94.1% to RM359.8
million from RM185.4 million in the previous financial
year. Coupled with effective stock selections and active
trading to lock in profit, equity portfolio recorded
remarkable performance where it had recorded an
income of RM73.3 million, a major reversal from a loss of
084
Penyata Pengerusi
juta, jauh berbeza dengan kerugian RM6.3 juta pada
tahun kewangan sebelum ini. Selain itu, Takaful Malaysia
juga telah memulakan beberapa inisiatif untuk menaikkan
kadar hasil daripada hartanah untuk meningkatkan
keuntungan Syarikat di masa hadapan. Ini termasuklah
penjualan hartanah yang tidak berpotensi untuk
mendapatkan nilai daripadanya serta inisiatif penjimatan
kos dengan menambah baik sistem mekanikal dan elektrik
bagi Dataran Kewangan Darul Takaful supaya kecekapan
penggunaan tenaga dipertingkatkan dan seterusnya
menaikkan kadar hasil hartanah tersebut.
ULASAN SUBSIDIARI
Kumpulan Syarikat Takaful Indonesia (STI)
Untuk tempoh 18 bulan berakhir 31 Disember 2010,
Kumpulan STI merekodkan Pendapatan Operasi berjumlah
RM263.8 juta berbanding RM152.1 juta pada tahun
kewangan yang lalu. Keuntungan selepas zakat dan cukai
untuk tempoh semasa dalam tinjauan berjumlah RM10.7
juta, melonjak dari RM1.4 juta yang diperolehi pada tahun
kewangan sebelum ini. Prestasi yang bertambah baik
ini adalah hasil daripada perubahan polisi perakaunan
bagi mematuhi standard perakaunan Indonesia, di mana
kerugian peserta diiktiraf di bawah dana Takaful Keluarga,
sekaligus meningkatkan pemulihan kerugian dalam
dana pemegang saham sebanyak RM5.5 juta. Sebelum
perubahan ini, kerugian peserta diiktiraf di bawah dana
pemegang saham.
Prestasi jualan STI ditunjukkan melalui hasil jualan kolektif
dari kedua-dua P.T. Asuransi Takaful Keluarga (ATK) dan
P.T. Asuransi Takaful Umum (ATU).
Prestasi jualan ATK berkembang 74% berbanding
tempoh yang sama tahun lalu. Peningkatan ketara ini
adalah hasil fokus dalam segmen Bancatakaful dan
kerjasama strategik melalui program afiniti yang lebih
baik. Kejayaan Bancatakaful disebabkan perkembangan
pesat perbankan Syariah dan keupayaan ATK untuk
merebut kedudukannya sebagai pengendali takaful yang
paling utuh di Indonesia. Perniagaan kerjasama strategik
dikukuhkan lagi melalui hubungan akrab dengan rakan
kongsi utama seperti PT. POS Indonesia dan Telkom
Indonesia, di mana program afiniti berkembang dengan
pantas.
Dalam menyokong pertumbuhan perniagaan, pasukan
pengurusan baru di ATK berjaya menggaji pekerja bagi
jawatan utama di peringkat atasan termasuklah Pengarah
Presiden, Pengarah Operasi dan Aktuari. Pengambilan
RM6.3 million in the previous financial year. In addition,
Takaful Malaysia had also embarked on several initiatives
to increase the property yield, thus further improving the
Company’s profitability moving forward. These included
disposal of non-performing properties to unlock their
values and cost saving initiative through upgrading of
mechanical and electrical system for Dataran Kewangan
Darul Takaful to improve the energy consumption
efficiency, hence improving its property yield.
REVIEW OF SUBSIDIARY
Syarikat Takaful Indonesia (STI) Group
For the 18 months period ended 31 December 2010,
STI Group recorded an Operating Revenue of RM263.8
million compared with RM152.1 million during the last
financial year. Profit after zakat and taxation for the
current period under review was RM10.7 million, an
increase over the last financial year of RM1.4 million. The
improved result is partly from the change in accounting
policy in compliance to Indonesia accounting standard
requiring that participants’ losses be recognized in the
Family Takaful fund has given rise to a recovery of losses
in the Shareholders’ fund of RM5.5 million. Before this
change, the participants’ losses were recognized in the
Shareholders’ fund.
The sales performance in STI is reflected by way of
collective sales results at both P.T. Asuransi Takaful
Keluarga (ATK) and P.T. Asuransi Takaful Umum (ATU).
This was led by the sales performance at ATK that grew
74% from the last financial year. The marked improvement
was largely as a result of greater focus within the
bancatakaful segment and improved strategic alliance/
partnerships vis-à-vis affinity programs. Bancatakaful’s
success is underscored by the accelerated Shariah
banking window growth and ATK’s ability to gather “first
mover” advantage being the most established takaful
operator in Indonesia. Strategic alliance businesses were
fortified through the deepening of relationships with key
partners i.e., PT. POS Indonesia and Telkom Indonesia
where affinity program grew rapidly.
In supporting the business growth, a new management
team at ATK emerged with the successful recruitment
of key positions at leadership level that included the
President Director, Operations Directors and Actuary.
085
Penyata Pengerusi
pekerja ini adalah selaras dengan proses transformasi
untuk mengubah ATK menjadi pengendali takaful yang
lebih agresif dan dominan.
Pada masa yang sama, perniagaan ATU juga menunjukkan
peningkatan walaupun peratusannya lebih rendah, iaitu
sebanyak 60%, kerana pertumbuhan industri am adalah
lebih perlahan pada tahun 2010. ATU telah mengkaji
semula strategi perniagaannya dengan fokus yang
lebih dalam mengembangkan perniagaan runcitnya. Ini
melibatkan pembentukan pasukan jualan Bancatakaful
yang berdedikasi di Jakarta, dan mempunyai lebih
daripada 30% perniagaan di Indonesia. Fokus ini
memungkinkan kadar hasil yang lebih tinggi daripada
segmen Bancatakaful di dalam Perbankan Syariah yang
sedang berkembang.
Asean Retakaful (ARIL)
ARIL merekodkan Pendapatan Operasi sebanyak
RM24.1 juta untuk tempoh 18 bulan berakhir 31 Disember
2010 berbanding RM27.2 juta yang dicatatkan pada
tahun kewangan sebelumnya berikutan pengunderitan
perniagaan baru dibekukan pada tahun kewangan
semasa. Para pemegang saham ARIL telah bersetuju
untuk memulakan peringanan risiko dalam portfolio ARIL
dan dijangka akan selesai menjelang Disember 2011.
TANGGUNGJAWAB SOSIAL KORPORAT
Sebagai sebuah syarikat berkaitan kerajaan (GLC), Takaful
Malaysia juga komited terhadap objektif Tanggungjawab
Sosial Korporat (CSR) seperti yang digariskan di dalam
Silver Book, iaitu satu set prinsip dan garis panduan yang
perlu dilaksanakan oleh GLC untuk membolehkannya
menyumbang secara proaktif kepada masyarakat sambil
merangsang nilai kepada para pemegang sahamnya.
Sejajar dengan Silver Book tersebut, kami berusaha
menghulurkan sumbangan kepada masyarakat dengan
cara yang paling cekap dan berkesan selaras dengan
kelaziman dan amalan terbaik industri serta rangka kerja
peraturan yang berkaitan.
Dalam program CSR kami di bawah Takaful myJalinan,
tiga program telah dilaksanakan iaitu:•
Takaful myJalinan Kasih yang menyediakan bantuan
kewangan kepada golongan yang memerlukan
termasuk anak-anak yatim, ibu tunggal dan kumpulan
kurang bernasib baik yang lain;
•
Takaful myJalinan Ilmu yang melengkapi tugas
para pendidik dengan membantu pelajar mencapai
kecemerlangan dalam bidang pelajaran dengan
penekanan khusus diberi kepada usaha memperbaiki
penguasaan dalam Bahasa Inggeris;
These hiring are in tandem with the transformation
process of converting ATK into a more forceful and
dominant takaful operator.
On the same breadth, ATU’s business also showed growth,
albeit lower at 60% largely due to a general industry
that had slower growth in 2010. ATU had re-assessed
its business strategy with greater focus in growing
the retail business. This involved creation of dedicated
Bancatakaful sales force within greater Jakarta that
accounted for more than 30% of the Indonesian business.
This focus allowed greater harvest of the Bancatakaful
segment within the growing Shariah Banking windows.
Asean Retakaful (ARIL)
ARIL recorded an Operating Revenue of RM24.1 million for
the 18 months period ended 31 December 2010 compared
with RM27.2 million recorded in the last financial year
following the cessation of underwriting new business
during the current financial period. The shareholders
of ARIL have agreed to commence commutation of the
risks in the portfolio of ARIL and are expected to be
completed by December 2011.
CORPORATE SOCIAL RESPONSIBLITY
As a government-linked company (GLC), Takaful Malaysia
is committed to the corporate social responsibility (CSR)
objectives outlined in the Silver Book which is a set of
principles and guidelines to be implemented by GLCs
so they can proactively contribute to the society while
still creating value for their shareholders. In line with the
Silver Book, we endeavour to contribute to the society
in the most efficient and effective manner in line with
industry norms and best practices as well as the relevant
regulatory framework.
We conducted three sub-programmes under the Takaful
myJalinan CSR umbrella:•
Takaful myJalinan Kasih provides monetary assistance
to the needy including orphans, single mothers and
other groups of underprivileged;
•
Takaful myJalinan Ilmu complements the work of
school teachers by helping students excel in their
studies with special emphasis on improving their
proficiency in English;
086
Penyata Pengerusi
•
Takaful myJalinan Alam yang bermatlamat untuk
memelihara alam sekitar melalui pelbagai aktiviti
mesra alam sekitar sambil mendidik seluruh rakyat
1Malaysia tentang kepentingan untuk melindungi
alam sekitar kita.
Sehingga kini, Takaful Malaysia telah menyumbang
hampir RM4 juta kepada pelbagai kumpulan yang
membela golongan yang kurang bernasib baik di seluruh
Malaysia sejak program CSR ini diperkenalkan pada bulan
Januari 2009.
KESIMPULAN
Saya ingin mengulangi komitmen Syarikat kepada
kesemua pemegang saham kami. Dalam menghadapi
persaingan sengit industri Takaful, Takaful Malaysia
akan kekal fokus mendukung janji jenama kami dan
akan memaksimakan keuntungan dan pelaburan
para pemegang saham yang kami hargai. Kami akan
mengambil langkah-langkah yang perlu, sama ada di
peringkat strategik mahupun operasi, untuk mencapai
prestasi kewangan yang lebih mantap.
Objektif strategik kami bagi Tahun Kewangan akan
datang adalah untuk mengekalkan trend pertumbuhan
dua digit melalui pembangunan produk hebat dan boleh
dijual yang akan memenuhi keperluan 1Malaysia yang
semakin sofistikated. Tawaran produk hebat ini harus
disertai dengan kualiti perkhidmatan yang lebih hebat
daripada biasa - dan yang penting sekali, mudah diakses
oleh 1Malaysia.
Akhir sekali, saya ingin merakamkan penghargaan kami
kepada Lembaga Pengarah atas komitmen yang tidak
berbelah bahagi dan usaha mereka sepanjang tahun;
kepada para pemegang saham dan pelanggan yang
kami hargai atas sokongan padu mereka; Jawatankuasa
Pengurusan dan Kakitangan atas ketekunan, komitmen
dan sikap profesional mereka; dan kepada Rakan Niaga
kami atas keyakinan dan sokongan mereka. Semoga
kita akan terus mengukuhkan perhubungan kita di
masa-masa yang akan datang. Dato’ Paduka Ismee Ismail
Pengerusi
•
Takaful myJalinan Alam aims to preserve the
environment through various environmental-friendly
activities while educating 1Malaysia on the importance
of safeguarding our environment.
So far, Takaful Malaysia has contributed close to RM4
million to various underprivileged groups across Malaysia
since the inception of this unique CSR programme in
January 2009.
CONCLUSION
In conclusion, I would like to reiterate the Company’s
commitment to all our stakeholders. In the face of the
intense competition in the Takaful fraternity, Takaful
Malaysia will remain focused on upholding our brand
promise while maximising the profits and investments of
our valued stakeholders. We will take various necessary
measures, both at strategic and operational levels, to
achieve a more solid financial performance.
Our strategic objective for the next Financial Year
is to maintain our double digit growth trend via the
development of niche and salable products that will
address the growing sophistication of 1Malaysia demands.
These superior offerings must then be complimented
with exceptional service quality – most importantly,
easily and widely accessible by 1Malaysians.
Finally, I would like to thank the Board of Directors for
their unreserved commitment and efforts throughout
the year; our valued shareholders and customers for
their staunch support; the Management Committee and
Staff for their diligence, commitment and exemplary
professionalism; and to our Business Partners for their
confidence and support. I look forward to furthering our
various associations and strengthening our ties in the
upcoming year.
Dato’ Paduka Ismee Ismail
Chairman
087
Directors’ Report 088
Statement by Directors 093
Statutory Declaration 094
Report of the Auditors 095
Report of the Shariah Advisory Body 097
Balance Sheets 098
Income Statements 099
Statements of Changes In Equity 100
Family Takaful Balance Sheet
102
Family Takaful Revenue Accounts
103
General Takaful Balance Sheet
105
General Takaful Revenue Accounts
106
Cash Flow Statements
108
Notes to the Financial Statements
111
088
Directors’ Report
for the Financial Period Ended 31 December 2010
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the
Company for the financial period ended 31 December 2010.
Principal Activities
The principal activities of the Company consist of managing family and general takaful businesses, whilst the principal
activities of the subsidiaries are as stated in Note 6 to the financial statements. There has been no significant change in the
nature of these activities during the financial period.
Change of Financial Year End
The financial year end of the Company and its subsidiary was changed from 30 June to 31 December. Accordingly,
the financial statements of the Group and of the Company for the financial period ended 31 December 2010 cover an
18-month period compared to the 12-month year ended of 30 June 2009 and therefore the comparative amounts are not
comparable.
Results
Net profit for the financial period Group
RM’000
Company
RM’000
57,749
49,856
Reserves and Provisions
There were no material transfers to or from reserves and provisions during the financial period under review.
Dividends
The dividends paid by the Company since 30 June 2009 were as follows:
In respect of the financial year ended 30 June 2009 as reported in the directors’ report of that year:
Final dividend of 7.25% less 25% taxation, paid on 11 December 2009
In respect of the financial period ended 31 December 2010:
Interim dividend of 7% less 25% taxation, paid on 8 October 2010
RM’000
8,853
8,548
17,401
The final dividend recommended by the Directors in respect of the financial period ended 31 December 2010 is 7% less tax
totalling RM8,547,893.
089
Directors’ Report
Directors of the Company
Directors who served since the date of the last report are:Y. Bhg. Dato’ Paduka Ismee Ismail
Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
Puan Rozaida Omar
(Appointed on 16 December 2009)
(Retired on 14 May 2010)
(Appointed on 15 May 2010)
In accordance with Article 62 of the Company’s Articles of Association, Encik Mahadzir Azizan and Y.Bhg.Dato’ Sulaiman
Mohd Yusof will retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.
In accordance with Article 66A of the Company’s Articles of Association, Y. Bhg. Dato’ Paduka Ismee Ismail and Encik
Zakaria Ismail will retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.
Directors’ Interests
According to the register of directors’ shareholding, none of the directors in office at the end of the financial period held
any interest in the shares and options over shares of the Company or its related corporations during the financial period
ended 31 December 2010.
Directors’ Benefits
Since the end of the previous financial year, no Director of the Company has received nor become entitled to receive any
benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by Directors
as shown in the financial statements) by reason of a contract made by the Company or a related company with the Director
or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial
interest.
There were no arrangements during and at the end of the financial period which had the object of enabling Directors of the
Company to acquire by means of the acquisition of shares in or debentures of the Company or any other corporate body.
Statement on corporate governance and internal controls
(a) Board Responsibilities
he Board of Directors (“the Board”) is ultimately responsible for the proper stewardship of the Company’s resources,
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the achievement of corporate objectives and good corporate citizenship and discharges this responsibility through
compliance with the Takaful (Amendment) Act, 1984 and BNM Guidelines on Duties and Responsibilities of Directors
and Chief Executives of Insurers (JPIT/GPT 1) and other directives, in addition to adopting other best practices on
corporate governance.
090
Directors’ Report
Statement on corporate governance and internal controls (continued)
(a) Board Responsibilities (continued)
he Board comprises six non-executive directors and one executive director to enable a balanced and objective
T
consideration of issues, hence facilitating optimal decision making. The executive director adds value to the decision
making process by providing a management and operational perspective to issues placed before the Board.
(b) Management Accountability
he Company has an organisational structure showing all reporting lines as well as clearly documented job descriptions
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for all management and executive employees.
Authority limits, as approved by the Board, are clearly established and made available to all employees.
(c) Corporate Independence
he Company has complied with BNM’s Guidelines on Related Party Transactions (JPIT/GPT 7) (Consolidated). Necessary
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disclosures have been made to the Board and when required, prior Board’s approval has been obtained. All material
related party transactions have been disclosed in Note 34 to the financial statements.
(d) Internal Controls and Operational Risk Management
The responsibility for establishing an effective risk management and internal control system rests with the Board.
he Board has put in place an Enterprise Wide Risk Management (“ERM”) framework within the Group to ensure that
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there is an on-going process of identifying, evaluating, monitoring and managing the significant risk exposures inherent
in its business operations. The Group has established a structured risk management process of which the roles and
responsibility of Risk Management Committee of the Board (RISCO) and Management Risk Committee (MRC) are clearly
spelt out. Given that Business Continuity Management (BCM) is the key component of the overall risk management
framework, the Company also has established a Business Continuity Management Framework.
The Group has established adequate internal control system to address the need for an effective and efficient business
operations, sound financial reporting and control procedures and compliance with relevant laws and regulations.
(e) Public Accountability
s custodian of public funds, the Company’s dealings with the public are always conducted fairly, honestly and
A
professionally.
(f) Financial Reporting
he Company has maintained proper accounting records and the Company’s financial statements are prepared in
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accordance with Financial Reporting Standards (“FRS”) issued by the Malaysian Accounting Standards Board (“MASB”),
the provisions of the Companies Act, 1965, the Takaful (Amendment) Act, 1984 and Takaful Guidelines/Circular issued
by Bank Negara Malaysia (“BNM”) and Principles of Shariah.
091
Directors’ Report
Other Statutory Information
Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to
ascertain that:
i)
all known bad debts have been written off and adequate provision made for doubtful debts;
ii) all current assets have been stated at the lower of cost and net realisable value; and
iii) there was adequate provision for incurred claims, including Incurred But Not Reported (“IBNR”) claims.
At the date of this report, the Directors are not aware of any circumstances:
i)
that would render the amount written off for bad debts, or the amount of the provision for doubtful debts and
provision for incurred claims including IBNR claims in the Group and in the Company inadequate to any substantial
extent, or
ii) that would render the value attributed to the current assets in the Group and in the Company financial statements
misleading, or
iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and
of the Company misleading or inappropriate, or
iv) not otherwise dealt with in this report or the financial statements, that would render any amount stated in the financial
statements of the Group and of the Company misleading.
The contingent liabilities of the Group and the Company are disclosed in Note 40 to the financial statements. As at the date
of this report, there does not exist:
i)
any charge on the assets of the Group or of the Company that has arisen since the end of the financial period and which
secures the liabilities of any other person, or
ii) any contingent liability in respect of the Group or of the Company that has arisen since the end of the financial
period.
No other contingent liability or other liability of any company in the Group has become enforceable, or is likely to become
enforceable within the period of twelve months after the end of the financial period which, in the opinion of the Directors,
will or may substantially affect the ability of the Group and of the Company to meet their obligations as and when they
fall due.
For the purpose of this paragraph, contingent and other liabilities do not include liabilities arising from contracts of takaful
underwritten in the ordinary course of business of the Group and the Company.
092
Directors’ Report
Other Statutory Information (continued)
In the opinion of the Directors, the results of the operations of the Group and of the Company for the financial period ended
31 December 2010 have not been substantially affected by any item, transaction or event of a material and unusual nature
nor has any such item, transaction or event occurred in the interval between the end of the financial period and the date
of this report.
Auditors
The auditors, Messrs KPMG Desa Megat & Co., have indicated their willingness to accept re-appointment.
Signed on behalf of the Board of Directors in accordance with a resolution of the Directors:
…………………………………………………………
…………………………………………………………
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
Date: 28 March 2011
093
Statement by Directors
Pursuant to Section 169(15) of the Companies Act, 1965
In the opinion of the Directors, the financial statements set out on pages 98 to 181 are drawn up in accordance with the
provisions of the Companies Act, 1965 and Financial Reporting Standards issued by the Malaysian Accounting Standards
Board and comply with the Principles of Shariah so as to give a true and fair view of the state of affairs of the Group and of
the Company at 31 December 2010 and of the results of their operations and cash flows for the period ended on that date.
In the opinion of the Directors, the information set out in Note 42 to the financial statements has been compiled in
accordance with the Guidance on Special Matter No.1, Determination of Realised and Unrealised Profits or Losses in the
Context of Disclosures Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, issued by the Malaysian Institute
of Accountants, and presented based on the format prescribed by Bursa Malaysia Securities Berhad.
Signed in accordance with a resolution of the Directors:
………….................................................................
………….................................................................
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
Date: 28 March 2011
094
Statutory Declaration
Pursuant to Section 169(16) of the Companies Act, 1965
I, Lee Kok Wah, the officer primarily responsible for the financial management of Syarikat Takaful Malaysia Berhad, do
solemnly and sincerely declare that the financial statements set out on pages 98 to 182 are, to the best of my knowledge
and belief, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the
provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the above named in Kuala Lumpur on 28 March 2011.
………….................................................................
Lee Kok Wah
Before me:
095
Report of the Auditors
to the Members of Syarikat Takaful Malaysia Berhad
(Company No. 131646-K)
(Incorporated in Malaysia)
Report on the Financial Statements
We have audited the financial statements of Syarikat Takaful Malaysia Berhad, which comprise the balance sheets as at 31
December 2010 of the Group and of the Company, and the income statements, revenue accounts, statements of changes in
equity and cash flow statements of the Group and of the Company for the year then ended, and a summary of significant
accounting policies and other explanatory notes, as set out on pages 98 to 181.
Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation of financial statements that give a true and fair view in
accordance with Financial Reporting Standards and the Companies Act, 1965 in Malaysia, and for such internal control
as the directors determine are necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit
in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement
of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control
relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by the Directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards
and the Companies Act, 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the
Company as of 31 December 2010 and of their financial performance and cash flows for the period then ended.
Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report the following:
a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company and
its subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the
Act.
096
Report of the Auditors
to the Members of Syarikat Takaful Malaysia Berhad
(Company No. 131646-K)
(Incorporated in Malaysia)
Report on Other Legal and Regulatory Requirements (continued)
b) We have considered the accounts and the auditors’ reports of all the subsidiaries of which we have not acted as
auditors, which are indicated in Note 6 to the financial statements.
c) We are satisfied that the accounts of the subsidiaries that have been consolidated with the Company’s financial
statements are in form and content appropriate and proper for the purposes of the preparation of the financial
statements of the Group and we have received satisfactory information and explanations required by us for those
purposes.
d) The audit reports on the accounts of the subsidiaries did not contain any qualification or any adverse comment made
under Section 174(3) of the Act.
Other Reporting Responsibilities
Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The information
set out in Note 42 to the financial statements has been compiled by the Company as required by the Bursa Malaysia
Securities Berhad Listing Requirements and is not required by the Financial Reporting Standards. We have extended our
audit procedures to report on the process of compilation of such information. In our opinion, the information has been
properly compiled, in all material respects, in accordance with the Guidance on Special Matter No.1, Determination of
Realised and Unrealised Profits or Losses in the Context of Disclosures Pursuant to Bursa Malaysia Securities Berhad Listing
Requirements, issued by the Malaysian Institute of Accountants and presented based on the format prescribed by Bursa
Malaysia Securities Berhad.
Other Matters
This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies
Act, 1965 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this
report.
........................................................
KPMG Desa Megat & Co
Firm Number: AF: 0759 Chartered Accountants
Date: 28 March 2011
........................................................
Khaw Hock Hoe
Approval Number: 2229/04/12 (J)
Chartered Accountant
097
Report of the Shariah Advisory Body
We have reviewed the principles and the contracts relating to the transactions and applications introduced by Syarikat
Takaful Malaysia Berhad (Takaful Malaysia) during the financial period ended 31 December 2010. We have also conducted
our review to form an opinion as to whether Takaful Malaysia has complied with the Shariah principles and with the
Shariah rulings issued by the Shariah Advisory Council of Bank Negara Malaysia.
The management of Takaful Malaysia is responsible for ensuring that Takaful Malaysia conducts its business in accordance
with Shariah principles. It is our responsibility to form an independent opinion, based on our review of the operations of
Takaful Malaysia.
We have assessed the work carried out during Shariah review which included examining, on a test basis, each type of
transaction, the relevant documentation and procedures adopted by Takaful Malaysia.
We planned and performed our review so as to obtain all the information and explanations which we considered necessary
in order to provide us with sufficient evidence to give reasonable assurance that Takaful Malaysia has not violated the
Shariah principles.
In carrying out our roles and responsibilities, we hereby submit the following report for the financial period ended 31
December 2010:1. The Shariah Advisory Body (SAB) held six (6) meetings to review various products, transactions and processes in line
with the Shariah requirements and we have also approved four (4) new products and eight (8) riders.
2. In addition, in the said meetings, we have also approved the profit rate declaration for Family and General takaful
products.
3. We also discussed and approved proposals/issues related to takaful products.
4. The Company during the financial period under review has tracked the non-halal income and disposed to charity upon
obtaining approval from the SAB.
In our opinion:1. The contracts, transactions and dealings entered into by Takaful Malaysia during the financial period ended 31 December
2010 are in compliance with the Shariah principles;
2. The allocation of profit and charging of losses relating to investment accounts conform to the basis that had been
approved by us in accordance with Shariah principles;
3. All earnings that have been realised from sources or by means prohibited by the Shariah principles have been considered
for disposal to charitable causes; and
4. The calculation of zakat is in compliance with Shariah principles.
We, the members of the Shariah Advisory Body of Takaful Malaysia, do hereby confirm that the operations of Takaful Malaysia
for the financial period ended 31 December 2010 have been conducted in conformity with the Shariah principles.
We bear witness only to what we know, and we could not well guard against the unseen! (surah Yusuf, verse: 81)
Chairman of the SAB : ………………………………
Dr. Ahmad Shahbari @ Sobri Salamon
Member of the SAB : ………………………………
Ustaz Mohd. Bakir Hj. Mansor
Kuala Lumpur,
Date: 28 March 2011
098
Balance Sheets
as at 31 December 2010
Note
ASSETS
Shareholders’ assets
Property and equipment
Prepaid lease payments
Investment properties
Investment in subsidiaries
Investment in associates
Investments
Financing receivables
Deferred tax assets
Qardh - Receivables
Receivables
Assets held for sale
Cash and bank balances
3
4
5
6
7
8
9
16
10
11
12
13
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
27,006 2,891 11,958 -
-
362,084 14,438 12,979 1,357 50,298 -
2,691 32,456 3,291 11,156 -
-
267,984 14,018 8,185 31,722 46,741 1,471 7,596 21,446 1,196 11,665 70,747 -
293,262 10,283 5,985 -
36,161 -
2,321 Total Shareholders’ assets Total Family takaful assets (page 102)
Total General takaful assets (page 105)
Less : Interfund balances
485,702 3,745,467 758,728 (45,446)
424,620 3,364,426 640,607 (57,418)
453,066 3,489,871 715,311 (38,569)
396,700
3,167,422
596,592
(41,834)
TOTAL ASSETS
4,944,451 4,372,235 4,619,679 4,118,880
LIABILITIES
Shareholders’ liabilities
Payables
14
Provision for taxation
47,811 24,847 46,476 699 32,721 24,662 33,077
395
Total Shareholders’ liabilities
Total Family takaful liabilities (page 102)
Total General takaful liabilities (page 105)
Less : Interfund balances
72,658 221,520 328,116 (45,446)
47,175 249,052 303,640 (57,418)
57,383 203,163 294,111 (38,569)
33,472
222,371
270,135
(41,834)
Family takaful fund
18
General takaful fund
19
576,848 3,523,947 430,612 542,449 3,115,374 336,967 516,088 3,286,708 421,200 484,144
2,945,051
326,457
TOTAL LIABILITIES
4,531,407 3,994,790 4,223,996 3,755,652
SHAREHOLDERS’ EQUITY
Share Capital
21
Reserves
162,817 222,975 162,817 186,677 162,817 232,866 162,817
200,411
Total equity attributable to
shareholders of the Company
Minority interest
17
385,792 27,252 349,494 27,951 395,683 -
363,228
-
Total Equity
413,044 377,445 395,683 363,228
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
4,944,451 4,372,235 4,619,679 4,118,880
The accompanying notes to the financial statements form an integral part of,
and should be read in conjunction with, these financial statements.
26,868
1,241
10,865
72,247
202,353
13,411
4,295
28,274
29,202
1,471
6,473
099
Income Statements
for the Period Ended 31 December 2010
Note
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
23
1,728,588 1,049,134 1,440,735 871,077
Transfer from revenue accounts
Family takaful
General takaful
Wakalah fee income
Investment income
24
Other operating income
25
Management expenses
26
Other operating expenses
27
102,924 118,908 141,962 17,086 26,324 (241,281)
(68,037)
66,149 81,583 38,718 9,289 17,850 (148,420)
(15,454)
101,349 118,679 66,944 12,352 15,672 (192,211)
(29,763)
56,979
78,961
9,427
6,678
11,287
(112,886)
(4,615)
Profit from operations
Finance costs
97,886 -
49,715 -
93,022 -
45,831
-
Profit before zakat and taxation
Zakat
Taxation
30
97,886 (516)
(39,621)
49,715 (862)
(8,399)
93,022 (358)
(42,808)
45,831
(506)
(8,143)
Profit for the period/year
57,749 40,454 49,856 37,182
Attributable to:
Shareholders of the Company
Minority interest
56,346 1,403 39,394 1,060 49,856 -
37,182
-
Profit for the period/year
57,749 40,454 49,856 37,182
Operating revenue
Earnings per share
Basic earnings per share (sen)
31
34.6
24.2
100
Statements of Changes in Equity
Group
----------Non – distributable---------- Distributable
Share
Share Translation
Retained
capital
premium
reserve
profits
Total
RM’000
RM’000
RM’000
RM’000
RM’000
At 1 July 2008
161,576 3,849 (5,684)
144,624 -
-
2,042 -
1,241 -
249 -
-
Minority
interest
RM’000
Total
Equity
RM’000
304,365 31,670 336,035
-
2,042 1,698 3,740
2,042 -
-
-
2,042 1,490 1,698 -
3,740
1,490
-
-
-
-
6,477 39,394 6,477 39,394 (6,477)
1,060 40,454
-
-
-
(4,274)
(4,274)
-
At 30 June 2009
162,817 4,098 (3,642)
186,221 349,494 27,951 377,445
At 1 July 2009
162,817 4,098 (3,642)
186,221 349,494 27,951 377,445
-
-
(2,647)
-
(2,647)
(2,102)
(4,749)
-
-
-
-
(2,647)
-
-
56,346
(2,647)
56,346
(2,102)
1,403
(4,749)
57,749
-
-
-
(8,853) (8,853)
-
(8,853)
-
-
-
(8,548)
(8,548)
-
(8,548)
162,817 4,098 (6,289)
Exchange differences
Net gain not recognised in
the income statement
Issue of shares - Cash Acquisition of additional
interest in a subsidiary
Net profit for the year Final dividend for the
financial year 2008
(Note 22)
Exchange differences
Net loss not
recognised in the
income statement
Net profit for the period
Final dividend for the
financial year 2009
(Note 22)
Interim dividend for the
financial period 2010
(Note 22)
At 31 December 2010
225,166
385,792
27,252
(4,274)
413,044
Statements of Changes in Equity
Company
----Non – distributable----
Share
Share
capital
premium
RM’000
RM’000
Distributable
Retained
profits
RM’000
Total
RM’000
At 1 July 2008
Issue of shares Net profit for the year
financial year 2008 (Note 22)
161,576 1,241 -
3,849 249 -
163,405 -
37,182 -
-
(4,274)
At 30 June 2009/1 July 2009
162,817 4,098 196,313 363,228
-
-
-
-
-
49,856 49,856
-
-
(8,853)
(8,853)
-
-
(8,548)
(8,548)
162,817 4,098 228,768
(Note 39)
Issue of shares Net profit for the period
financial year 2009 (Note 22)
Interim dividend for the
financial period 2010 (Note 22)
At 31 December 2010
328,830
1,490
37,182
(4,274)
395,683
101
102
Family Takaful Balance Sheet
Note
Assets
Investments
Receivables
Assets held for sale
Investment-linked Takaful assets
5
8
9
11
12
13
33
Total family takaful assets
Liabilities
Payables
Provision for outstanding claims
Investment-linked Takaful liabilities
14
15
33
Total family takaful liabilities
Participants’ fund
Family takaful fund
18
Total family takaful liabilities
and participants’ fund
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
206,980 3,164,455 72,376 91,301 -
9,304 201,051 204,983 2,785,629 9,382 116,768 800 53,258 193,606 198,172 2,998,193 72,376 82,820 -
4,368 133,942 196,097
2,666,468
5,662
108,936
800
47,982
141,477
3,745,467 3,364,426 3,489,871 3,167,422
173,730 44,016 3,774 186,322 48,130 14,600 156,453 42,936 3,774 167,091
40,680
14,600
221,520 249,052 203,163 222,371
3,523,947 3,115,374 3,286,708 2,945,051
3,745,467 3,364,426 3,489,871 3,167,422
Note
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
Gross contributions
23
Retakaful
Decrease/(Increase) in actuarial reserves 18
839,909 (30,824)
18,302 524,867 (12,030)
(8,270)
679,831 (6,150)
19,242 433,007
(1,779)
(9,742)
Net contributions
827,387 504,567 692,923 421,486
Benefits paid and payable
Death/disability
Maturities
Surrenders
Medical
Others (164,534)
(65,678)
(230,941)
(75,466)
9,212 (116,368)
(29,931)
(121,744)
(18,196)
7,599 (142,533)
(50,063)
(194,367)
(61,681)
(8,597)
(108,859)
(22,177)
(111,744)
(9,330)
3,726
(527,407)
(278,640)
(457,241)
(248,384)
Wakalah fee
Net administration fee (106,036)
(4,199)
(22,429)
(15,207)
(66,944)
(4,199)
(9,427)
(15,207)
189,745
188,291 164,539
148,468
150,835 103,289 130,026
82,451
36,714
84,689 32,317
65,704
2,196 189,745
313 188,291 2,196 164,539
313
148,468
(150,835)
(103,289)
(130,026)
(82,451)
38,910 228,693 144,359 (2,074)
85,002 138,850 21,408 (41,540)
34,513 213,420 112,785 (2,074)
66,017
132,607
34,084
(36,053)
409,888 203,720 358,644 196,655
Underwriting profit
- Individual Family
Underwriting profit
- Group Family and others
Underwriting profit
- Group Family ILB
Less: Underwriting profit
- Individual Family
Underwriting profit
- Group Family and others & Group Family ILB
Investment income
24
25
27
Total profit for the period/year after excluding
underwriting profit for Individual Family
103
104
for the period ended 31 December 2010
Note
Total profit for the period/year after excluding
underwriting profit for Individual Family
Less: Allocation of special reserves
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
409,888 (7,413)
203,720 (3,625)
358,644 (7,413)
196,655
(3,625)
Profit attributable to the Company and
participants for the period/year after
excluding underwriting profit for
Individual Family
Profit attributable to the Company
transferred to income statement
402,475 200,095 351,231 193,030
(102,924)
(66,149)
(101,349)
(56,979)
Profit payable to participants
299,551 (1,148)
133,946 (2,909)
249,882 (1,148)
136,051
(2,909)
Profit attributable to participants for the period/year:
298,403 131,037 248,734 133,142
Family takaful funds at the beginning of the period/year
Underwriting profit - Individual Family Profit attributable to participants for the period/year
Movement for the period/year:
- Actuarial reserves
- Qardh
- Seed capital
Special reserve
Translation reserves
3,115,374 150,835 298,403 2,911,266 103,289 131,037 2,945,051 130,026 248,734 2,749,912
82,451
133,142
(18,302)
(29,170)
3,000 7,413 (3,606)
8,270 (55,840)
18,766 3,625 (5,039)
(19,242)
(28,274)
3,000 7,413 -
Family takaful fund at the end of the period/year
3,523,947 3,115,374 3,286,708 The accompanying notes to the financial statements form an integral part of,
9,742
(52,587)
18,766
3,625
2,945,051
General Takaful Balance Sheet
Note
Assets
Investments
Receivables
Total general takaful assets
Liabilities
Payables
Total general takaful liabilities
Participants’ fund
General takaful fund
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
5
8
9
11
13
29,234 630,589 6,320 80,744 11,841 28,954 525,028 3,478 74,221 8,926 29,234 610,474 6,320 59,131 10,152 28,954
502,427
3,478
56,047
5,686
758,728 640,607 715,311 596,592
14
15
101,471 226,645
132,235 171,405 93,620 200,491 124,931
145,204
328,116
303,640 294,111
270,135
19
430,612
336,967 421,200
326,457
758,728 640,607 715,311 596,592
Total general takaful liabilities
and participants’ fund
105
106
Marine
Fire
Note
Motor
Aviation & Transit
Miscellaneous
Total
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
to
to
to
to
to
to
to
to
to
to
31.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.2009
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000 RM’000
95,182 606,354 352,851
Group
201,450 118,222 259,908 126,943 21,045 12,504 123,951 Retakaful
Gross contributions
23
(106,355)
(62,023)
(5,547)
(2,787)
(11,155)
(6,640)
(44,367)
Net contributions
95,095 56,199 254,361 124,156 9,890 5,864 79,584 53,317 438,930 239,536
(16,739)
(4,711)
(19,453)
(24,830)
(414)
202 2,898 (6,462)
(33,708) (35,801)
78,356 51,488 234,908 99,326 9,476 6,066 82,482 46,855 405,222 203,735
1,804 (158,840)
(59,183)
(10,979)
(3,222)
(38,620)
(41,865) (167,424) (113,315)
(Increase)/Decrease
in unearned
contribution reserves
20
Earned contributions
Net claims incurred
32
(19,434)
(16,207) (227,873) (76,808)
Wakalah fee
(9,784)
(3,683)
(14,089)
(7,136)
(2,849)
(1,033)
(9,203)
(4,437)
(35,925) (16,289)
Net administration fee 8,522 2,851 (16,672)
(6,033)
(1,018)
(1,148)
(5,005)
(5,302)
(14,173)
Underwriting surplus/(deficit) 57,660 52,460 45,307 26,974 (5,370)
663 29,654 20,909 127,251 101,006
(9,632)
Investment income
24
36,546 23,277
25
29,222 10,568
27
(448)
(8,763)
Total profit for the period/year
192,571 126,088
Transfer to income statement (118,908) (81,583)
Participants’ share of profit
73,663 44,505
(16,740) (23,494)
Profit attributable to
participants for the period/year
56,923 21,011
61,650 40,639
118,573 61,650
participants at beginning of the period/year
particiants at the end
of the period/year
Unearned contribution
reserves (Note 20)
Special reserves
263,829 230,121
23,061 23,061
- Qardh
19,074 19,245
6,075 2,890
430,612
336,967
Statutory liabilities
General Takaful fund at
end of the period/year
107
Marine
Fire
Note
Motor
Aviation & Transit
Miscellaneous
Total
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
1.7.2009
1.7.2008
to
to
to
to
to
to
to
to
to
to
31.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.200931.12.2010 30.6.2009
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000 RM’000
75,494 499,491 276,294
Company
Gross contributions
23
160,708 82,817 227,585 109,741 12,953 8,242 98,245 (84,410)
(41,019)
(3,109)
(916)
(9,375)
(5,340)
(36,478)
76,298 41,798 224,476 108,825 3,578 2,902 61,767 42,043 366,119 195,568
(16,987)
(5,741)
(19,777)
(24,198)
(424)
222 5,332 1,279 (31,856) (28,438)
59,311 36,057 204,699 84,627 3,154 3,124 67,099 43,322 334,263 167,130
4,576 (139,252)
(49,175)
(6,731)
(2,552)
(31,504)
Retakaful
Net contributions
(33,451) (133,372) (80,726)
(Increase)/Decrease
in unearned
20
Earned contributions
Net claims incurred
32
(13,578)
(12,370) (191,065) (59,521)
Net administration fee 10,387 5,296 (16,669)
(5,927)
(527)
(522)
(4,095)
(3,793)
(10,904)
(4,946)
Underwriting surplus/(deficit) 56,120 45,929 48,778 29,525 (4,104)
50 31,500 27,159 132,294 102,663
Investment income
24
35,641 22,491
25
30,311 10,566
27
(448)
(4,117)
Total profit for the period/year
197,798 131,603
Transfer to income statement
(118,679) (78,961)
Participants’ share of profit Profit payable to participants
79,119 52,642
(16,232) (23,239)
participants for the period/year
62,887 29,403
92,796 63,393
155,683 92,796
participants at beginning
of the period/year
participants at end
of the period/year
Unearned contribution
reserves (Note 20)
Special reserves
242,456 210,600
23,061 23,061
General takaful fund at
end of the period/year
421,200 326,457
108
Cash flows from operating activities
Adjustments for:
Depreciation and amortisation:
- Shareholders’ Fund
- Family Takaful Fund
- General Takaful Fund
Fair value change of investment properties
Income from financing receivables
Income from Islamic Debt Securities,
Investment Accounts and Islamic Accepted Bills
Dividend income from Shariah approved shares
Gain on disposal of quoted shares and unit trusts
Gain on disposal of property and equipment
Gain on disposal of investment properties
(Gain)/loss on foreign exchange
Write off of investments and equipment
Accretion of discounts
(Reversal of)/allowance for
diminution in value of investments
- Investment-linked Fund
Impairment loss of investment in a subsidiary
Profit from Malaysian Government
Investment Certificates
Reversal of non-performing financing:
Operating loss before working capital changes
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
97,886 49,715 93,022 45,831
13,707 -
-
(1,870)
(2,994)
10,817 261 6
(18,021)
(1,615)
11,988 -
-
(1,684)
(2,379)
9,163
261
6
(17,276)
(1,253)
(190,813)
(25,422)
(82,908)
(100)
-
(932)
27 (7,863)
(123,067)
(12,989)
(2,039)
(61)
(1,506)
4,219 2,997 (5,195)
(171,361)
(25,384)
(45,895)
(50)
-
-
27 (7,863)
(114,470)
(12,912)
(14,980)
(26)
(1,506)
2,997
(5,195)
(2,163)
(47,595)
(1,839)
-
-
2,192 9,649 1,661 13,891 -
(1,497)
(41,862)
(1,416)
-
1,500 1,666
9,785
1,343
9,520
-
(38,285)
(19,109)
(38,285)
(18,116)
-
-
-
(2,045)
(3,203)
(1,950)
-
-
-
(2,045)
(3,276)
(1,950)
(291,164)
(95,392)
(231,139)
(112,433)
109
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
Operating loss before working capital changes
(291,164)
(95,392)
(231,139)
(112,433)
Increase in Family Takaful Fund
Increase in General Takaful Fund
Increase in investments
Income from Islamic Debt Securities,
Investment Accounts, Islamic Accepted Bills
and profit from Malaysian Government
Investment Certificates
Dividend income from Shariah approved shares
Increase in payables
(including claim admitted but not paid)
Decrease in other receivables
408,573 93,645 (448,712)
204,108 59,790 (554,308)
341,656 94,743 (429,232)
195,139
57,841
(476,383)
190,813 25,422 123,067 12,989 171,361 25,384 106,661
12,912
3,822 10,764 23,822 86,224 5,386 17,279 39,419
70,357
Zakat paid
Income taxes paid
(6,837)
(2,775)
(16,952)
(139,700)
(3,226)
(1,370)
(4,562) (3,104)
(16,814)
(106,487)
(3,414)
(1,276)
Net cash used in operating activities
(26,564)
(144,296)
(24,480) (111,177)
Cash flows from investing activities
Purchase of property and equipment
Purchase of shares in subsidiary
Proceeds from sale of investment properties
Proceeds from sale of property and equipment
(7,948)
-
1,006 156 (4,845)
-
61,506 156 (6,561)
-
-
863 (4,152)
(21,825)
61,506
76
Net cash (used in)/generated from investing activities
(6,786)
56,817 (5,698)
35,605
110
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
Cash flows from financing activities
Proceeds from issuance of shares
Dividends paid to shareholders of the Company
-
(17,401)
1,490 (4,274)
-
(17,401)
1,490
(4,274)
Net cash used in financing activities
(17,401)
(2,784)
(17,401)
(2,784)
Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of
financial period/year
(50,751)
(90,263)
(47,579)
(78,356)
77,058 167,321 66,498 144,854
Cash and cash equivalents at the end of
26,307 77,058 18,919 66,498
Cash and cash equivalents comprise:
- Shareholders’ fund (Note 13)
- Family Takaful fund (Note 13)
- Investment-Linked Business (Note 33)
- General Takaful fund (Note 13)
2,691 9,304 2,471 11,841 7,596 53,258 7,278 8,926 2,321 4,368 2,078 10,152 6,473
47,982
6,357
5,686
26,307 77,058 18,919 66,498
Syarikat Takaful Malaysia Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed
on the Main Market of the Bursa Malaysia Securities Berhad. The address of its registered office and principal place of
business of the Company is located at:
26th Floor, Annex Block
50000 Kuala Lumpur
The consolidated financial statements of the Company as at and for the period ended 31 December 2010 comprise the
Company and its subsidiaries (together referred to as the Group). The financial statements of the Company as at and for
the period ended 31 December 2010 do not include other entities.
The Company is principally engaged in managing family and general takaful businesses, whilst the principal activities of
the subsidiaries, are as stated in Note 6 to the financial statements. There has been no significant change in the nature of
these activities during the financial period.
The immediate holding company is BIMB Holdings Berhad, a company incorporated in Malaysia and listed on the Main
Market of the Bursa Malaysia Securities Berhad. The ultimate holding corporation of the Company is Lembaga Tabung Haji,
a statutory body established under the Tabung Haji Act 1995 (Act 535).
The financial statements were approved by the Board of Directors on 28 March 2011.
The financial year end of the Company and its subsidiary was changed from 30 June to 31 December. Accordingly, the
financial statements of the Group and of the Company for the financial period ended 31 December 2010 cover an 18-month
period compared to the 12-month year ended 30 June 2009 and therefore the comparative amounts are not comparable.
1. Basis of preparation
(a) Statement of compliance
The financial statements of the Group and of the Company have been prepared in accordance with Financial
Reporting Standards (FRS) issued by the Malaysian Accounting Standards Board (MASB), accounting principles
generally accepted in Malaysia and the provisions of the Companies Act, 1965, the Takaful (Amendment) Act, 1984
and Takaful Guidelines/Circulars issued by Bank Negara Malaysia. These financial statements also comply with the
applicable disclosure provisions of the Main Market Listing Requirements of the Bursa Malaysia Securities Berhad.
111
112
1. Basis of preparation (continued)
(a) Statement of compliance (continued)
The Group and the Company have not applied the following accounting standards, amendments and interpretations
that have been issued by the Malaysian Accounting Standards Board (MASB) which are not yet effective to the
Group and the Company:
FRSs/Interpretations
Amendments to FRS 1, First-time Adoption of Financial Reporting Standards and FRS 127, Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary,
Jointly Controlled Entity or Associate
Amendments to FRS 2, Share-based Payment: Vesting Conditions and Cancellations
Amendments to FRS 132, Financial Instruments: Presentation-Separation of Compound Instruments
and FRS 101, Presentation of Financial Statements-Puttable Financial Instruments and
Obligations Arising on Liquidation
FRS 7, Financial Instruments: Disclosures and IC Interpretation 9, Reassessment of Embedded Derivatives
Amendments to FRS 139, Financial Instruments: Recognition and Measurement
- Reclassification of Financial Assets
- Collective Assessment of Impairment for Banking Institutions
Improvements to FRSs (2009)
FRS 4, Insurance Contracts
Amendments to FRS 7, Financial Instruments: Disclosures
FRS 101, Presentation of Financial Statements (revised)
FRS 123, Borrowing Costs (revised)
FRS 139, Financial Instruments: Recognition and Measurement
IC Interpretation 10, Interim Financial Reporting and Impairment
IC Interpretation 11, FRS 2 - Group and Treasury Share Transactions
IC Interpretation 13, Customer Loyalty Programmes#
IC Interpretation 14, FRS 119 - The Limit on a Defined Benefit Asset, Minimum
Funding Requirements and Their Interaction#
SOP i-1:Financial Reporting from an Islamic Perspective
Amendments to FRS 132, Financial Instruments: Presentation- Classification of Rights Issues
Amendments to FRS 1, First-time Adoption of Financial Reporting Standards (revised)
FRS 3, Business Combinations (revised)
FRS 127, Consolidated and Separate Financial Statements (revised)
Amendments to FRS 2, Share-based Payment
Amendments to FRS 5, Non-current Assets Held for Sale and Discontinued Operations
FRS 127, Consolidation and Separate Financial Statements: Cost of an Investment in a Subsidiary,
Jointly controlled Entity or Associate (revised)
Amendments to FRS 138, Intangible Assets IC Interpretation 12, Service Concession Agreements#
IC Interpretation 16, Hedges of a Net Investment in a Foreign Operation
IC Interpretation 17, Distribution of Non-cash Assets to Owners
Amendments to IC Interpretation 9, Reassessment of Embedded Derivatives
Effective date
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 March 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
1 July 2010
(a) Statement of compliance (continued)
FRSs/Interpretations
Amendments to FRS 1, First-time Adoption of Financial Reporting Standards Limited Exemptions from comparative FRS 7, Disclosures for First-time Adopters
Amendments to FRS 1, Additional Exemptions for First-time Adopters
Amendments to FRS 2, Group Cash-settled Share-based Payment Transactions
Amendments to FRS 7, Financial Instruments: Disclosures- Improving Disclosures
about Financial Instruments
IC Interpretation 4, Determining Whether an Arrangement contains a Lease
IC Interpretation 18, Transfer of Assets from Customers
Improvements to FRSs (2010)
IC Interpretation 19, Extinguishing Financial Liabilities with Equity Instruments
Amendments to IC Interpretation 14, Prepayments of a Minimum Funding Requirement#
FRS 124, Related Party Disclosures (revised)
IC Interpretation 15, Agreements for Construction of Real Estate#
#
Effective date
1 January 2011
1 January 2011
1 January 2011
1 January 2011
1 January 2011
1 January 2011
1 January 2011
1 July 2011
1 July 2011
1 January 2012
1 January 2012
Not applicable to the Group and the Company
The Group and the Company plan to adopt the aforesaid applicable standards, amendments and interpretations
as follows:
a) On 1 January 2011 for those with effective dates of 1 January 2010, 1 March 2010, 1 July 2010 and 1 January
2011.
b) On 1 January 2012 for those with effective date of 1 July 2011 and 1 January 2012.
The impact of applying FRS 4, FRS 7 and FRS 139 on the financial statements upon first adoption as required by
paragraph 30(b) of FRS 108, Accounting Policies, Changes in Accounting Estimates and Errors is not disclosed by virtue
of the exemption given in these respective FRSs. The initial application of the other aforesaid applicable standards,
amendments and interpretations is not expected to have any material impact on the financial statements.
(b) Basis of measurement
The financial statements of the Group and of the Company have been prepared on the historical cost basis except
as disclosed in the notes to the financial statements.
(c) Functional and presentation currency
These financial statements are presented in Ringgit Malaysia (RM), which is the Company’s functional currency. All
financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated.
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(d) Use of estimates and judgements
The preparation of financial statements requires management to make judgements, estimates and assumptions
that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses.
Actual result may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and in any future periods affected.
In particular, information about significant areas of estimation uncertainty and critical judgements in applying
accounting policies that have the most significant effect on the amounts recognised in the financial statements are
described in the following notes:
 Notes 2 (o), 2 (p) & Note 18 - Provision for outstanding claims including IBNR claims, Family takaful funds and
actuarial reserves.
 Note 5 - Investment properties
2. Summary of significant accounting policies
The accounting policies set out below have been applied consistently to periods presented in these financial statements,
and have been applied consistently by Group entities, unless otherwise stated.
(a) Basis of consolidation
(i) Subsidiaries
Subsidiaries are entities, including unincorporated entities, controlled by the Group. Control exists when the
Group has the ability to exercise its power to govern the financial and operating policies of an entity so as to
obtain benefits from its activities. In assessing control, potential voting rights that presently are exercisable are
taken into account. Subsidiaries are consolidated using the purchase method of accounting.
Under the purchase method of accounting, the financial statements of subsidiaries are included in the
consolidated financial statements from the date that control commences until the date that control ceases.
For business combinations where the Group’s equity interest in a subsidiary company is increased by virtue of a
subscription to a higher proportion of the subsidiary company’s new issue of shares as compared to its existing
equity interest and where the share issue price is above or below the subsidiary company’s net asset value, the
resultant dilution or accretion of its share of net assets in the subsidiary company is recognised in equity.
Investments in subsidiaries are stated in the Company’s balance sheet at cost less any impairment losses,
unless the investment is classified as assets held for sale (or included in a disposal group that is classified as
held for sale).
2. Summary of significant accounting policies (continued)
(a) Basis of consolidation (continued)
(ii) Associates
Associates are entities, including unincorporated entities, in which the Group has significant influence, but not
control, over the financial and operating policies.
Associates are accounted for in the consolidated financial statements using the equity method unless it is
classified as held for sale (or included in a disposal group that is classified as held for sale). The consolidated
financial statements include the Group’s share of the income and expenses of the equity accounted associates,
after adjustments to align the accounting policies with those of the Group, from the date that significant
influence commences until the date that significant influence ceases.
When the Group’s share of losses exceeds its interest in an equity accounted associate, the carrying amount
of that interest (including any long-term investments) is reduced to nil and the recognition of further losses
is discontinued except to the extent that the Group has an obligation or has made payments on behalf of the
investee.
(iii)Transactions eliminated on consolidation
Intra-group balances and transactions, and any unrealised income and expenses arising from intra-group
transactions, are eliminated in preparing the consolidated financial statements.
Unrealised gains arising from transactions with equity accounted investees are eliminated against the
investment to the extent of the Group’s interest in the investee.
Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no
evidence of impairment.
(iv)Minority interest
Minority interest at the balance sheet date, being the portion of the net identifiable assets of subsidiaries
attributable to equity interests that are not owned by the Company, whether directly or indirectly through
subsidiaries, are presented in the consolidated balance sheet and statement of changes in equity within equity,
separately from equity attributable to the equity holders of the Company. Minority interest in the results of the
Group are presented on the face of the consolidated income statement as an allocation of the total profit or loss
for the period/year between minority interest and the equity holders of the Company.
Where losses applicable to the minority exceed the minority’s interest in the equity of a subsidiary, the excess,
and any further losses applicable to the minority, are charged against the Group’s interest except to the extent
that the minority has a binding obligation to, and is able to, make additional investment to cover the losses.
If the subsidiary subsequently reports profits, the Group’s interest is allocated with all such profits until the
minority’s share of losses previously absorbed by the Group has been recovered.
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(b) Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated to the respective functional currencies of the Group entities
at exchange rates at the dates of the transactions.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated
to the functional currency at the exchange rate at that date. Non-monetary assets and liabilities denominated
in foreign currencies are translated at exchange rates at the dates of the transactions except for those that
are measured at fair value, which are retranslated to the functional currency at the exchange rate at the date
that the fair value was determined. Foreign currency differences arising on retranslation are recognised in the
income statements.
(ii) Operations denominated in functional currencies other than Ringgit Malaysia
The assets and liabilities of operations in functional currencies other than RM, including goodwill and fair
value adjustments arising from business combinations, are translated to RM at exchange rates at the balance
sheet date, except for goodwill and fair value adjustments arising from business combinations before 1 January
2006 which are reported using the exchange rates at the dates of the acquisitions. The income and expenses of
operations in functional currencies other than RM, are translated to RM at exchange rates at the dates of the
transactions.
Foreign currency differences are recognised in translation reserve. On disposal of such operations, the
accumulated translation differences are recognised in the consolidated income statement as part of the gain or
loss on sale.
(iii)Net investment in foreign operations
Exchange differences arising from monetary items that in substance form part of the Company’s net investment
in foreign operations, are recognised in the Company’s income statement. Such exchange differences are
reclassified to equity in the consolidated financial statements. Deferred exchange differences are recognised in
the consolidated income statement upon disposal of the investment.
(c) Property and equipment
(i) Recognition and measurement
Freehold land is stated at cost. All other property and equipment are stated at cost less accumulated depreciation
and accumulated impairment losses, if any.
Cost includes expenditures that are directly attributable to the acquisition of the asset and any other costs
directly attributable to bringing the assets to working condition for its intended use and the costs of dismantling
and removing the items and restoring the site on which they are located. Purchased software that is integral to
the functionality of the related equipment is capitalised as part of that equipment.
(c) Property and equipment (continued)
(i) Recognition and measurement (continued)
When significant parts of an item of property and equipment have different useful lives, they are accounted for
as separate items (major components) of property and equipment.
Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds
from disposal with carrying amount of property and equipment and are recognised at net within “other
operating income” or “other operating expenses” respectively in the income statements.
(ii) Subsequent costs
The cost of replacing part of an item of property and equipment is recognised in the carrying amount of the
item if it is probable that the future economic benefits embodied within the part will flow to the Group and
the Company and its cost can be measured reliably. The carrying amount of those parts that are replaced is
derecognised. The costs of the day-to-day servicing of property and equipment are recognised in the income
statements as incurred.
(iii)Depreciation
Depreciation is recognised in the income statements on a straight-line basis over the estimated useful lives of
each part of an item of property, plant and equipment. Leased assets are depreciated over the shorter of the
lease term and their useful lives unless it is reasonably certain that the Group will obtain ownership by the end
of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not
depreciated until the assets are ready for their intended use.
The estimated annual depreciation rates for the current and comparative periods are as follows:
Buildings
Renovation
Furniture, fixtures and fittings Motor vehicles Computer and equipment The depreciable amount is determined after deducting the residual value.
Depreciation methods, residual values and useful lives are reassessed at the balance sheet date.
2%
16.70%
16.7% - 20%
20%
16.7% - 33.3%
(d) Leased assets
(i) Finance lease
Leases in terms of which the Group or the Company assume substantially all the risks and rewards of ownership
are classified as finance leases. Upon initial recognition, the leased asset is measured at an amount equal to the
lower of its fair value and the present value of the minimum lease payments. Subsequent to initial recognition,
the asset is accounted for in accordance with the accounting policy applicable to that asset.
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(d) Leased assets (continued)
(i) Finance lease (continued)
Minimum lease payments made under finance leases are apportioned between the finance expense and the
reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so
as to produce a constant periodic rate of interest on the remaining balance of the liability. Contingent lease
payments are accounted for by revising the minimum lease payments over the remaining term of the lease
when the lease adjustment is confirmed.
(ii) Operating lease
Leases, where the Group or the Company does not assume substantially all the risks and rewards of the ownership
are classified as operating leases and, except for property interest held under operating lease, the leased assets
are not recognised on the Group or the Company’s balance sheet. Property interest held under an operating
lease, which is held to earn rental income or for capital appreciation or both, is classified as investment property.
Leasehold land that normally has an indefinite economic life and title is not expected to pass to the lessee by the
end of the lease term is treated as an operating lease. The payment made on entering into or acquiring a leasehold
land is accounted for as prepaid lease payments, except for leasehold land classified as investment property.
Payments made under operating leases are recognised in the income statements on a straight-line basis over
the term of the lease. Lease incentives received are recognised as an integral part of the total lease expense,
over the term of the lease.
(e) Investments
Investments are recognised initially at purchase price plus attributable transaction costs.
Subsequent to initial recognition:
•
Investments in Government Islamic Papers (Government Investment Issues and other Islamic instruments
issued by the Government or Bank Negara Malaysia (“BNM”), Malaysian Government Securities, Islamic debt
securities and other investments as specified by BNM and held to maturity are stated at cost adjusted for
amortisation of premiums or accretion of discounts, calculated on a constant yield basis, from the date of
purchase to maturity date. The amortisation of premiums and accretion of discounts are recognised in the
revenue accounts/income statements.
•
Quoted investments are stated at the lower of cost and market value determined on an aggregate portfolio
basis by category of investments except that if diminution in value of a particular investment is not regarded
as temporary, provision is made against the value of that quoted investment.
•
All other unquoted investments are stated at the lower of cost and net realisable value.
(e) Investments (continued)
Subsequent to initial recognition: (continued)
•
Investments in quoted shares, unit trusts, and debt securities of investment-linked businesses are stated at the
closing market prices.
•
Unquoted Islamic debts securities and investment in commodity, equity and fixed income closed end fund of
the investment-linked funds are stated at the prevailing prices quoted by independent financial institutions.
Any increase or decrease in value of these investments is taken into the investment-linked business revenue
accounts.
Allowance for diminution in value of investments are charged directly to the revenue accounts of the takaful funds
and to the income statements. Subsequent increase in market value of the quoted investment is treated as a write
back of the previous allowance for diminution in value of investments to the extent of the carrying amount of the
quoted investments that would have been determined had no diminution in value had been recognised.
On disposal of an investment, the difference between net disposal proceeds and its carrying amount is recognised
in the revenue accounts/income statements.
All investments in debt and equity securities are accounted for using settlement date accounting. Settlement date
accounting refers to:
a) the recognition of an asset on the day it is received by the entity, and
b) the derecognition on an asset and recognition of any gain or loss on disposal on the date it is delivered.
(f) Investment properties
Investment properties are properties which are owned or held under a leasehold interest to earn rental income or
for capital appreciation or for both. These include land held for a currently undetermined future use.
Investment properties are initially stated at costs, including related and incidental expenditure incurred and
are measured subsequently at fair value with any change therein recognised in the income statements/revenue
accounts.
External independent valuation companies, having the appropriate recognised professional qualifications, value the
Group’s investment properties on an annual basis. The fair values are based on market value, being the estimated
amount for which a property could be exchanged between a willing buyer and a willing seller in an arm’s length
transaction.
Investment properties are not depreciated. On disposal of investment properties, the difference between the net
proceeds and the carrying amounts are recognised in the income statements/revenue accounts as appropriate.
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(g) Financing receivables
Financing receivables are initially recognised at their cost when the contractual right to receive cash or another
financial asset from another entity is established. Financing receivables are not held for the purpose of trading.
Subsequent to initial recognition, receivables are stated at cost less allowance for doubtful debts.
Known bad debts are written off and specific provisions is made for any financing, which remains outstanding
for more than six months from the date on which they became payable, and for all debts which are considered
doubtful.
(h) Receivables
Receivables are initially recognised at their cost when the contractual right to receive cash or another financial
asset from another entity is established. Receivables are not held for the purpose of trading.
Subsequent to initial recognition, receivables are stated at cost less allowance for doubtful debts.
Known bad debts are written off and specific allowance for doubtful debts is made as follows:
a) Motor contributions which remain outstanding for more than 30 days.
b) Non-motor contributions including agents and reinsurance balances, which remain outstanding for more than
six months.
(i) Non-current assets held for sale
Non-current assets (or disposal groups comprising assets and liabilities) that are expected to be recovered primarily
through sale rather than through continuing use are classified as held for sale. Immediately before classification
as held for sale, the assets (or components of a disposal group) are remeasured in accordance with the Group’s
accounting policies. Thereafter, generally the assets (or disposal group) are measured at the lower of their carrying
amount and fair value less cost to sell. Any impairment loss on a disposal group is first allocated to goodwill,
and then to the remaining assets and liabilities on a pro rata basis, except that no loss is allocated to financial
assets, deferred tax assets and investment property, which continue to be measured in accordance with the Group’s
accounting policies. Impairment losses on initial classification as held for sale and subsequent gains or losses on
remeasurement are recognised in the income statements/revenue accounts. Gains are not recognised in excess of
any cumulative impairment loss.
(j) Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, balances and deposits with banks and highly liquid investments
which have an insignificant risk of changes in value.
(k)Impairment of assets
The carrying amounts of assets, except for financial assets (other than investments in subsidiaries and associate)
and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of
impairment. If any such indication exists, then the asset’s recoverable amount is estimated.
An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its
recoverable amount. Impairment losses are recognised in the income statements/revenue accounts. Impairment
losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any
goodwill allocated to the units and then to reduce the carrying amount of the other assets in the unit (group of
units) on a pro rata basis.
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less
costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a
pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to
the asset. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that
generates cash inflows from continuing use that largely independent of the cash inflows of other assets or group of
assets (the “cash generating unit”).
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised
in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer
exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable
amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the
carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had
been recognised. Reversal of impairment loss is credited to the income statements/revenue accounts in the year in
which the reversal is recognised.
(l) Employee benefits
Short term employee benefits
Short-term employee benefit obligations in respect of salaries, annual bonuses, paid annual leave and sick leave are
measured on an undiscounted basis and are expensed as the related service is provided.
A provision is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans
if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by
the employee and the obligation can be estimated reliably.
The Group’s contribution to the statutory pension fund is charged to the income statement in the year to which
they relate. Once the contributions have been paid, the Group has no further payment obligations.
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(m)Provisions
A provision is recognised if, as a result of a past event, the Group and the Company has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that
reflects current market assessments of the time value of money and the risks specific to the liability.
Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated
reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits
is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence of
one or more future events are also disclosed as contingent liabilities unless the probability of outflow of economic
benefits is remote. Contingent liabilities do not include liabilities arising from contracts of takaful underwritten in
the ordinary course of business of the Group and the Company.
(n) Payables
Payables are measured initially and subsequently at cost. Payables are recognised when there is a contractual
obligation to deliver cash or another financial asset to another entity.
(o) General takaful fund
The general takaful fund is maintained in accordance with the Takaful Act, 1984 (amendment). Included in general
takaful fund is fund arising from:
•
•
The general takaful underwriting results are determined for each class of takaful business after taking into account
retakaful, unearned contributions, claims incurred and management expenses.
Contribution income
Contributions are recognised in a financial period in respect of risks assumed during that particular financial period
based on the inception date. Inward treaty retakaful contributions are recognised on the basis of periodic advices
received from ceding takaful operators.
Unearned contribution reserves
The Unearned Contribution Reserves (“UCR”) represent the portion of the net contributions of takaful certificates
written that relate to the unexpired periods of the certificates at the end of the financial period/year.
General takaful; and
General retakaful funds.
(o) General takaful fund (continued)
Unearned contribution reserves (continued)
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned
contributions is used, as follows:
(a) 1/365th method for all General Takaful business within Malaysia.
(b) 1/8th method for all classes of General Treaty Inward Retakaful business.
A liability for outstanding claims is recognised in respect of direct takaful business. The amount of outstanding
claims is the best estimate of the expenditure required together with related expenses less recoveries, if any, to
settle the present obligation at the balance sheet date. Any difference between the current estimated cost and
subsequent settlement is dealt with in the takaful revenue accounts for the Group and the Company in the year in
which the settlement takes place.
Provision is also made for the cost of claims, together with related expenses, incurred but not reported (“IBNR”) at
balance sheet date, using a mathematical method of estimation by a qualified external actuary where historical
claims experience are used to project future claims. As with all projections, there are elements of uncertainty
and the projected claim may be different from actual. These uncertainties arise from changes in underlying risk,
changes in spread of risks, claims settlement pattern as well as uncertainties in the projection model and underlying
assumptions.
(p)Family takaful fund
Included in family takaful fund is fund arising from:-
•
•
•
The family takaful fund is maintained in accordance with the requirements of the Takaful (Amendment) Act, 1984
and includes the amounts attributable to participants which represents the participants’ share of the underwriting
surplus and return on the investments, where applicable and are distributable in accordance with the terms and
conditions prescribed by the Group and the Company.
The surplus transfer from the family takaful fund to the income statements is based on the predetermined profit
sharing ratio of the underwriting surplus and return on investments.
Contribution income
Contribution is recognised as soon as the amount of the contribution can be reliably measured. Initial contribution
is recognized from inception date and subsequent contribution is recognised when it is due. For individual family
takaful contribution, recognition is up to the extent of one due amount.
Family takaful;
Group family takaful; and
Family retakaful funds.
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(p)Family takaful fund (continued)
Contribution income (continued)
At the end of each financial period, all due contributions are accounted for to the extent that they can be reliably
measured.
Investment-linked business
Investments of investment-linked business are stated at closing market prices. Any increase or decrease in value of
these investments is taken into the investment-linked business revenue accounts.
Actuarial reserves
Actuarial reserves comprise the unearned contribution reserves and the reserve computed under the net contribution
valuation as explained below :
(i) Unearned contribution reserve
The Unearned Contribution Reserve (“UCR”) of group family fund (except for Mortgage Reducing Term Takaful
(“MRTT”) as detailed below) and family retakaful fund represents the portion of the net contributions of takaful
certificates written that relate to the unexpired periods of the certificates at the end of the financial period/
year.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned
contributions is used, as follows:
(a) 1/365th method for all group family takaful business within Malaysia.
(b) A pro-rata basis based on a time apportionment method for family retakaful business.
(ii) Net contribution valuation
The actuarial liabilities for MRTT products managed under group family fund and Ordinary Participants’
Special Account (“PSA”) are calculated using the net contribution method of valuation (“NCV”). The liability
is ascertained by deducting the present value of future net contribution from the present value of the future
amount-at-risk. As with all projections, there are elements of uncertainty and the projected liability may be
different from actual.
These uncertainties arise from changes in underlying risk, changes in spread of risks, claims settlement pattern
as well as uncertainties in the projection model and underlying assumptions.
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(p)Family takaful fund (continued)
Provision for wakalah fee reserves
(i) Investment Linked products
Provision is made to record future expected losses to the shareholders’ fund, if any, arising from servicing of
individual certificate contracts with participants.
Provision is estimated based on the methodology stated in the Guidelines on Investment Linked Insurance/
Takaful Business (BNM/RH/GL 010-15) issued by Bank Negara Malaysia where best estimated cash flows are
discounted to ensure that there are no negative net cash flows arising in the future in the Shareholders’ Fund. The best estimate assumptions used are consistent with that used in the valuation of the Investment Linked
Risk Fund.
(ii) Single Contribution Wakalah Plans (Mortgage and Group Credit Wakalah)
Provision is estimated based on actuarial present value of future maintenance expense. The assumptions used
in calculating the provision are best estimate assumptions.
Claims and provisions for claims arising on family and group family takaful certificates, including settlement costs,
are accounted for using the case basis method and for this purpose, the benefits payable under a family takaful
certificate are recognised as follows:
(a) maturity or other policy benefit payments due on specified dates are accounted for as claims payable on the
due dates.
(b) death, surrender and other benefits without due dates are treated as claims payable on the date of receipts of
intimation of death of the participant or occurrence of contingency covered.
(c) for group health business, provision is made for the cost of claims, together with related expenses, incurred but
not reported (“IBNR”) at balance sheet date, using a mathematical method of estimation by a qualified internal
actuary where historical claims experience are used to project future claims. As with all projections, there are
elements of uncertainty and the projected claim may be different from actual.
These uncertainties arise from changes in underlying risk, changes in spread of risks, claim settlement pattern
as well as uncertainties in the projection model and underlying assumptions.
(q) Other revenue recognition
Income from financing are recognised on an accrual basis, except where financing is considered non-performing, i.e.
where repayments are in arrears for more than six months, in which case recognition of such income is suspended.
Subsequent to suspension, income is recognised on the receipt basis until all arrears have been paid.
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(q) Other revenue recognition (continued)
Income is recognised on a time proportion basis that takes into account the effective yield of the asset.
Wakalah fees are recognised as income or expenses by the respective funds based on a predetermined percentage of
gross contributions upon inception of certificates. Wakalah surplus/(deficit) is arrived at after deducting commission
and management expenses against the Wakalah fees charged.
Rental is recognised on an accrual basis except where default in payment of rent has already occurred and rent
dues remain outstanding for over six months, in which case recognition of rental income is suspended. Subsequent
to suspension, income is recognised on the receipt basis until all arrears have been paid.
Dividend is recognised when the right to receive payment is established.
(r) Zakat
This represents tithes payable by the Company to comply with the Principles of Shariah and as approved by the
Shariah Advisory Body.
(s) Tax expense
Tax expense comprises current and deferred tax. Tax expense is recognised in the income statement except to the
extent that it relates to items recognised directly in equity, in which case it is recognised in equity.
Current tax is the expected tax payable on the taxable income for the period/year, using tax rates enacted or
substantially enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Deferred tax is recognised using the balance sheet method, providing for temporary differences between the carrying
amounts of assets and liabilities for reporting purposes and the amounts used for taxation purposes. Deferred tax
is not recognised for temporary differences in relation to the initial recognition of goodwill, the initial recognition
of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor
taxable profit/loss. Deferred tax is measured at the tax rates that are expected to be applied to the temporary
differences when they reverse, based on the laws that have been enacted or substantively enacted by the balance
sheet date.
Deferred tax liability is recognised for all taxable temporary differences.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against
which temporary difference can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced
to the extent that it is no longer probable that the related tax benefit will be realised.
Additional taxes that arise from the distribution of dividends are recognised at the same time as the liability to pay
the related dividend is recognised.
(t) Operating lease payments
The Group recognises its Ijarah financing obligations as operating leases. Lease payments under the operating lease
are recognised as an expense in the income statements on a straight-line basis over the lease term.
(u) Earnings per share
The Group presents basic and diluted earnings per shares (“EPS”) data for its ordinary shares. Basic EPS is calculated
by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number
of ordinary shares outstanding during the period.
Diluted EPS, where applicable, is determined by adjusting the profit or loss attributable to ordinary shareholders
and the weighted average number of ordinary shares outstanding for the effects of all dilutive potential ordinary
shares, which comprise share options granted to employees.
(v) Segment reporting
A segment is a distinguishable component of the Group that is engaged either in providing products or services
(business segment), or in providing products or services within a particular economic environment (geographical
segment), which is subject to risks and rewards that are different from those of other segments.
3
(a) Shareholders’ Fund
Office
equipment,
Renovation
furniture,
Group
Freehold and building
Motor fixtures and
Land
Buildings in progress
vehicles
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
Total
RM’000
As at 1 July 2009
Additions
Disposals
Write offs
Translation difference
1,660 -
-
-
-
7,895 35 -
-
(27) -
222 -
-
-
1,388 385 (111)
-
(17)
91,275 7,306 (865)
(2,739)
(302)
102,218
7,948
(976)
(2,739)
(346)
At 31 December 2010
1,660 7,903 222 1,645 94,675 106,105
As at 1 July 2009
Charge for the period
Disposals
Write offs
-
-
-
-
-
1,488 357 -
-
(12)
-
-
-
-
-
915 271 (111)
-
(13)
67,359 12,679 (856)
(2,704)
(274)
69,762
13,307
(967)
(2,704)
(299)
At 31 December 2010
-
1,833 -
1,062 76,204 79,099
Net book value
At 31 December 2010
1,660 6,070 222
583 18,471 27,006
Accumulated depreciation
127
128
3
Property and equipment (continued)
(a) Shareholders’ Fund (continued)
Office
equipment,
Renovation
furniture,
Group
Motor fixtures and
Land
vehicles
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
Total
RM’000
At 1 July 2008
Additions
Disposals
Write offs
Reclassified from assets
held for sale (Note 12)
Reclassified as assets
Reclassification
1,841 -
-
-
9,327 165 -
-
10,895 -
-
-
1,729 -
(208)
(165)
85,261 4,680 (216)
(10,702)
-
-
-
59 1,595 -
(10,895)
-
-
3
(30)
-
10,762 (105)
At 30 June 2009
1,660 7,895 -
1,388 91,275 At 1 July 2008
Charge for the year
Disposals
Write offs
Reclassified from assets
Reclassification
-
-
-
-
2,065 311 -
-
-
-
-
-
943 301 (168)
(171)
63,808 9,955 (161)
(7,699)
66,816
10,567
(329)
(7,870)
-
-
-
58 1,386 1,444
-
-
-
(362)
(488)
(38)
-
-
-
-
(40)
(8)
-
104 (34)
At 30 June 2009
-
1,488 -
915 67,359 69,762
Net book value
At 30 June 2009
1,660 6,407 -
473 23,916 32,456
(181)
-
-
(762) (699) (136) 109,053
4,845
(424)
(10,867)
1,654
(943)
(829)
(271)
102,218
(362)
(424)
(80)
3
Property and equipment (continued)
Office
equipment,
Renovation
furniture,
Company
Motor fixtures and
Land
vehicles
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
Total
RM’000
At 1 July 2009
Additions
Disposals
Write offs
1,660 -
-
-
3,417 -
-
-
-
222 -
-
447 170 -
-
80,909 6,169 (865)
(2,739)
86,433
6,561
(865)
(2,739)
At 31 December 2010
1,660 3,417 222 617 83,474 89,390
At 1 July 2009
Charge for the period
Disposals
Write offs
-
-
-
-
871 102 -
-
-
-
-
-
268 121 -
-
58,426 11,720 (856)
(2,708)
59,565
11,943
(856)
(2,708)
At 31 December 2010
-
973 -
389 66,582 67,944
Net book value
At 31 December 2010
1,660 2,444 222 228 16,892 21,446
At 1 July 2008
Additions
Disposals
Write offs
Reclassification
1,841 -
-
-
4,179 -
-
-
10,895 -
-
-
716 -
(104)
(165)
76,703 4,152 (139)
(10,702)
94,334
4,152
(243)
(10,867)
(181)
-
(762)
-
-
(10,895)
-
-
-
10,895 (943)
-
At 30 June 2009
1,660 3,417 -
447 80,909 86,433
At 1 July 2008
Charge for the year
Disposals
Write offs
-
-
-
-
1,150 83 -
-
-
-
-
-
413 100 (74)
(171)
57,294 8,950 (119)
(7,699)
58,857
9,133
(193)
(7,870)
-
(362)
-
-
-
(362)
At 30 June 2009
-
871 -
268 58,426 59,565
Net book value
At 30 June 2009
1,660 2,546 -
179 22,483 26,868
129
130
4
Prepaid lease payments
Shareholder’s Fund
Group
Unexpired
period
less than
50 years
RM’000
Company
Unexpired
period
more than
50 years
Total
RM’000
RM’000
Unexpired
period
less than
50 years
RM’000
Unexpired
period
more than
50 years
RM’000
Total
RM’000
Cost
At 1 July 2008
2,604 (112)
1,616 -
4,220 (112)
-
-
1,616 -
1,616
-
At 30 June 2009/1 July 2009
2,492 (14)
1,616 -
4,108 (14)
-
-
1,616 -
1,616
-
At 31 December 2010
2,478 1,616 4,094
-
1,616 1,616
Amortisation
At 1 July 2008
Amortisation for the year
257 220 (35)
345 30 -
602 250 (35)
-
-
-
345 30 -
345
30
-
At 30 June 2009/1 July 2009
Amortisation for the period
442 355 (14)
375 45 -
817 400 (14)
-
-
-
375 45 -
375
45
-
At 31 December 2010
783 420 1,203 -
420 420
Carrying amounts
At 1 July 2008
2,347 1,271 3,618 -
1,271 1,271
At 30 June 2009/1 July 2009
2,050 1,241 3,291 -
1,241 1,241
At 31 December 2010
1,695 1,196 2,891 -
1,196 1,196
5
Group
At 1 July 2009/2008
- Additions
- Disposal
- Reclassified from/(to) assets
- Transfer to Family
Takaful Fund
- Fair value (loss)/gain for
the period/year - net
- Translation difference
At 31 December 2010/
30 June 2009
Comprising of:
Freehold land and building
Leasehold land and building
more than 50 years
less than 50 years
Shareholders’ Fund
Family Takaful
General Takaful
31.12.2010
RM’000
30.6.2009
RM’000
31.12.2010
RM’000
30.6.2009
RM’000
31.12.2010
RM’000
30.6.2009
RM’000
11,156 -
-
26,369 -
(14,190)
204,983 -
(206)
219,552 -
(30,012)
28,954 -
-
1,471 (890)
-
(800)
-
-
-
(228)
-
228 -
-
(668)
(1)
121 (26)
2,254 (51)
16,200 (185)
280 -
1,700
-
11,958 11,156 206,980 204,983 29,234 28,954
5,305 4,214 165,981 165,553 17,354 17,354
6,515 6,805 32,475 31,030 5,280 5,000
138 137 8,524 8,400
6,600 6,600
11,958 11,156 206,980 204,983 29,234 28,954
43,052
(15,798)
The following are amounts arising from investment properties that have been recognised in the income statements/
revenue accounts during the financial period/year.
Rental income
649 2,063 16,312 9,217 1,747 1,759
131
132
5
Investment properties (continued)
Company
At 1 July 2009/2008
- Additions
- Disposal
- Reclassified from/(to) assets
- Fair value (loss)/gain for the
period/year - net
At 31 December 2010/
30 June 2009
Comprising of:
Freehold land and building
more than 50 years
less than 50 years
Family Takaful
General Takaful
31.12.2010
RM’000
30.6.2009
RM’000
31.12.2010
RM’000
30.6.2009
RM’000
31.12.2010
RM’000
30.6.2009
RM’000
10,865 -
-
25,825 -
(14,190)
196,097 -
-
211,453 -
(30,012)
28,954 -
-
1,471 (890)
-
(800)
-
-
(671)
120 2,075 15,456 280 1,700
11,665 10,865 198,172 196,097 29,234 28,954
5,150 4,060 161,647 161,167 17,354 17,354
6,515 6,805 32,475 31,030 5,280 5,000
-
-
4,050 3,900 6,600 6,600
11,665 10,865 198,172 196,097 29,234 28,954
43,052
(15,798)
The following are amounts arising from investment properties that have been recognised in the income statements/
revenue accounts during the financial period/year.
Rental income
The Group’s properties were valued by independent firms of professional valuer, using the comparison, cost and
investment methods of valuations, where applicable.
In the comparison method approach, the sales and listings of comparable properties of within nearby locations are
compiled. From the compiled data, adjustments are made by the valuer between the subject property and those similar
properties.
The adjustments made are in relation to location, size and shape of the lot, physical features, legal and legislative
constraints, building design and condition, time element, planning provision, improvements and renovation works
made, if any, surrounding developments, facilities and amenities available and other factors that may affect the value
of the subject property. These adjustments are therefore subject to uncertainties such as property market outlook,
potential increases in rental rates and general economic conditions.
In the cost method approach, the indication of values consists of the sum of the present worth of the improvement
value.
643 2,058 15,511 8,618 1,747 1,759
5
Investment properties (continued)
For the valuation of the improvements, the valuers have considered the following:-
i.
Cost of replacement of the building in accordance with current trend of market prices for materials, labour,
contractor’s overhead, profit and fees;
ii. Accrued depreciation as evidenced by the observed condition and present and prospective serviceability in
comparison with new units of like kind; and;
iii. Extent, character and utility of the property.
The Investment method is the capitalisation of net rent from a property. Net rent is the residue of gross annual rent less
annual expenses (outgoings) required to sustain the rent with allowance for void and management fees. The range of
yield applied to the net annual rentals to determine fair value of the property is between 6% to 7% per annum.
The external valuer has considered the results of all these three methods in their valuation and applied professional
judgement in the selection of the fair value of these investment properties.
6
Investment in subsidiaries
Company
Unquoted shares, at cost
31.12.2010
30.6.2009
RM’000
RM’000
Opening balance
Increase in investment cost of existing subsidiary
Impairment loss
Reclassified from/(to) asset held for sale (Note 12)
72,247 -
(1,500)
-
27,550
21,825
22,872
Closing balance
70,747 72,247
The principal activities of the subsidiaries, their country of incorporation and the effective interest of Syarikat Takaful
Malaysia Berhad are as follows:
Country of
Name of companies
Principal activities
incorporation
Effective
interests
31.12.2010
30.6.2009
%
%
Asean Retakaful International
(L) Ltd. (“ARIL”)**
Family and general
retakaful business
Malaysia
63.09
63.09
P.T. Syarikat Takaful Indonesia*
and its subsidiaries
Investment holding
Indonesia
56.00 56.00
P.T. Asuransi Takaful Umum*
General takaful business
Indonesia
64.70
64.70
P.T. Asuransi Takaful Keluarga*
Family takaful business
Indonesia
74.80
74.80
* Not audited by KPMG Desa Megat & Co
** Audited by a firm affiliated with KPMG Desa Megat & Co
During the previous financial year, the investment in ARIL has been reclassified from assets held for sale (see note12)
as it no longer met the criteria.
133
134
7
Investment in associate
Investment in associate company amounting RM2,473,000 (2009: RM2,473,000) was fully written down during the
financial year ended 30 June 2007.
8
Investments
(a) Shareholders’ Fund
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
- Outside Malaysia
Allowance for diminution
34,876 - -
23,964
44
(1,502)
34,876 39,017 22,506 Unit trusts
- In Malaysia
- Outside Malaysia
42,695 5,814 -
30,445
3,043
(969)
48,509 32,519 49,823 Unquoted:
Shares
- In Malaysia
- Outside Malaysia
380 46 380
47
426 427
22,506
32,445
Islamic debt securities
- In Malaysia
- Outside Malaysia
Amortisation of premiums
42,856 2,916 (347)
61,920
8,798
(179)
45,425 46,223 70,539 70,214
Investment in investment-linked funds
32,954 36,860 29,954 30,246
Deposits and money market placement with:
Licensed banks
- Local
- Foreign 167,591 32,303 93,499
18,540
199,894 112,039
Total investments
362,084 267,984
Investments maturing more than twelve months
45,253
49,283
8
Investments (continued)
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
34,876 - 23,964
(1,497)
34,876 39,017 22,467 22,467
Unit Trust
42,695 43,813 30,445 30,371
380 Unquoted:
Shares
- In Malaysia
380
Islamic debt securities Amortisation of premiums
42,856 (347)
40,809
(179)
42,509 43,307 40,630 40,305
Investment in investment-linked funds
32,954 36,860 29,954 30,246
Licensed banks 139,848 Total investments
293,262 202,353
42,509 40,830
78,477
135
136
8
(b) Family Takaful Fund
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
- Outside Malaysia
272,814 74 - 148,792
1
(23,808)
272,888 292,582 124,985 Unit trusts
- In Malaysia
- Outside Malaysia
163,048 26,835 (1,037)
130,979
33,650
(6,645)
188,846 189,916 157,984 Unquoted:
Malaysian Government Islamic papers
(Amortisation of premiums)/accretion of discounts
571,670 (528)
- 511,875
8,347
(226)
571,142 519,996 Shares
- In Malaysia
578,828 135 125,468
157,990
518,220
34
- In Malaysia
- Outside Malaysia
Accretion of discounts Allowance for diminution
1,493,870 56,319 12,378 -
1,364,790
35,332
6,939
(393)
1,562,567 1,646,815 1,406,668 Deposits and money market placement with:
Licensed banks
- Local
- Foreign 484,773 84,104 535,983
39,979
568,877 575,962
Total investments
3,164,455 2,785,629
2,117,472 1,963,654
1,431,878
8
(b) Family Takaful Fund (continued)
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
272,814 - 148,792
(23,808)
272,814 292,478 124,984 Unit trusts
163,048 -
130,979
(88)
163,048 164,118 130,891 Unquoted:
571,670 (528)
- 511,875
8,347
(226)
571,142 519,996 Shares
- In Malaysia
578,828 135 1,493,870 12,411 - 1,364,790
6,939
(393)
1,506,281 1,371,336 Deposits and money market placement with:
Licensed banks 130,897
518,220
34
Islamic debt securities Accretion of discounts
1,588,889 125,467
484,773 519,227
Total investments
2,998,193 2,666,468
2,067,089 1,930,879
1,396,546
137
138
8
(c) Investment-linked Fund
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
- Outside Malaysia
Unrealised gain/(loss)
23,262 - 3,222 15,302
(1,117)
26,484 26,484 14,185 Unit Trust
- Outside Malaysia
45,535 11,333 44,140
(4,372)
56,868 56,868 39,768 Unquoted:
- In Malaysia
- Outside Malaysia
Unrealised gain
13,744 7,545 282 21,571 21,571 14,215 Investment in commodity, equity and
fixed income closed end fund
75,210 4,439 95,534
(8,588)
79,649 86,946 79,649 6,974 2,315 22,342
3,812
9,289 26,154
Total investments
193,861 39,768
6,588
7,627
-
Licensed banks
- Local
- Foreign
14,185
181,268
14,215
86,946
8
(c) Investment-linked Fund (continued)
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares in Malaysia
23,262 3,222
15,302
(1,117)
26,484
26,484
14,185
Unquoted:
Unrealised gain
13,744 294 6,588
-
14,038 14,038 6,588 Investment in commodity, equity and
fixed income closed end fund
75,210 4,439 95,534
(8,588)
79,649 86,946 Deposits and money market placement with:
Licensed banks Total investments
79,649 6,974 22,342
127,145 130,061
14,185
6,588
86,946
139
140
8
(d) General Takaful Fund
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
52,152 -
39,010
(1,012)
52,152 59,232 37,998 37,998
Unit trusts
- In Malaysia
33,156 31,985
- Outside Malaysia
909
2,568 Allowance for diminution
- (827)
Unquoted:
Shares
- In Malaysia
34,065 34,887 33,726 89 89
120,045 (278)
94,659
3,365
119,767 98,024 Islamic debt securities
- In Malaysia
- Outside Malaysia
Accretion of discounts
245,452 1,715
2,310
228,307
235
249,477
258,832 228,542
Licensed banks
- Local
- Foreign
157,548 17,491 120,151
6,498
175,039 126,649
Total investments
630,589 525,028
358,876 339,881
121,301 33,726
98,102
229,490
8
(d) General Takaful Fund (continued)
31.12.2010
30.6.2009
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
52,152 - 39,010
(1,012)
52,152 59,232 37,998 Unit trusts
33,156 -
31,985
(404)
33,156 31,581 Unquoted:
Shares
- In Malaysia
33,882 89 89
120,045 (278) 94,659
3,365
119,767 98,024 Islamic debt securities Accretion of discounts 245,452 2,310 228,307
235
247,762 228,542 Deposits and money market placement with:
Licensed banks 157,548 106,193
Total investments
610,474 502,427
357,161 339,881
121,301 257,117 37,998
31,581
98,102
229,490
141
142
9
Group
31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Secured financing
Staff financing
Unsecured financing
Allowance for doubtful financing
2,653 14,708 -
(2,923) 75,362 -
-
(2,986)
4,386
5,000
(3,066)
Total financing
14,438 72,376 6,320
Amount receivable after twelve months
14,412 72,376 6,320
Secured financing
Staff financing
Unsecured financing
3,068 11,840 -
(890)
5,772 3,793 3,000 (3,183)
4,668
2,000
(3,190)
Total financing
14,018 9,382 3,478
10,200 6,396
2,000
Secured financing
Staff financing
Unsecured financing
2,310 10,617 -
(2,644)
75,362 -
-
(2,986)
4,386
5,000
(3,066)
Total financing
10,283 72,376 6,320
10,268
72,376
6,320
Secured financing
Staff financing Unsecured financing
2,483 11,818 -
(890)
5,772 -
3,000 (3,110)
4,668
2,000
(3,190)
Total financing 13,411 5,662 3,478
9,593 3,000 2,000
30.6.2009
Company
31.12.2010
30.6.2009
10 Qardh receivables
Opening balance
Decrease during the period/year
Qardh written off (Note 27)
Transfer from/(to) Assets held for sale (Note 12)
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
31,722 (26,826)
80,861 (50,810)
28,274 (28,274)
80,861
(52,587)
4,896 (2,995)
-
(544)
30,051 -
1,671 -
-
-
-
-
28,274
-
1,357 31,722 -
28,274
Closing balance
The balance outstanding at 30 June 2009 of RM1.671 million transferred from assets held for sale was shown net of
provision for impairment loss of RM20.308 million.
11 Receivables
Group
31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Due contributions
Due from retakaful companies
-
-
44,744 8,347 67,580
22,704
Allowance for bad and doubtful debts
-
-
53,091 (9,434)
90,284
(26,719)
-
43,657 63,565
Investment receivable
Deposits
Due from Shareholders’ Fund (Note 14)
Due from Family Takaful Fund (Note 14)
Due from General Takaful Fund (Note 14)
Due from ILB (Note 33)
Sundry receivables
1,748 495 -
24,273 12,329 68 11,385 47,254 179 -
-
-
-
211 7,529
463
6,692
2,495
50,298 47,644 17,179
Total receivables
50,298 91,301 80,744
Trade Receivables
Other Receivables
143
144
11 Receivables (continued)
Group
30.6.2009
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
-
-
84,100 7,400 81,835
20,467
-
-
91,500 (22,670) 102,302
(46,994)
-
68,830 55,308
1,896 631 -
11,395 19,148 3,908 9,763 34,534 273 7,217 -
-
4,377 1,537 5,614
4,182
7,191
1,926
46,741 47,938 18,913
46,741 116,768 74,221
Due contributions
-
-
40,004 3,264 57,325
8,137
-
-
43,268
(7,976)
65,462
(23,047)
-
35,292 42,415
Trade Receivables
Due contributions
Other Receivables
Deposits
Sundry receivables
Total receivables
Company
31.12.2010
Trade Receivables
11 Receivables (Continued)
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
1,748 495 -
17,859 12,329 68 3,662 47,254 179 -
-
-
-
95 7,529
6,692
2,495
36,161 47,528 16,716
36,161 82,820 59,131
-
-
70,250 2,015 72,791
13,365
-
-
72,265 (11,217)
86,156
(44,816)
-
61,048 41,340
1,896 526 -
-
19,148 3,908 3,724 34,534 273 7,217 -
-
4,377 1,487 5,614
7,191
1,902
29,202 47,888 14,707
29,202 108,936 56,047
Other Receivables
Deposits
Sundry receivables
Total receivables
Company
30.6.2009
Trade Receivables
Due contributions
Other Receivables
Deposits
Sundry receivables
Total receivables
During the period/year, the Group and the Company wrote off Due Contributions against the brought forward allowance
for bad and doubtful debts as follows:
Group
Company
Family
General
Family
General
Takaful
Takaful
Takaful
Takaful
RM’000
RM’000
RM’000
RM’000
Bad debts written-off - 31.12.2010
Bad debts written-off - 30.6.2009
5,060
16,999 11,051
10,239 5,060 17,836 11,051
9,075
145
146
12 Assets held for sale
As at 31 December 2010, the assets and liabilities held for sale are as follows:
Group and Company
Assets classified as held for sale
Family Takaful
31.12.2010
30.6.2009
RM’000
RM’000
Property and equipment (Note i)
Reclassified from investment properties (Note 5)
-
-
581 890 -
-
800
-
1,471 -
800
i)
Property and equipment held for sale comprise the following:
31.12.2010
30.6.2009
RM’000
RM’000
Plant and equipment:
Cost
Group and Company
At 1 July 2009/2008
Reclassified to cost of investment
in subsidiary - ARIL (Note 6)
Reclassified (to)/from investment properties (Note 5)
Reclassified from property and equipment (Note 3)
Settlement for Asset held for sale
At 31 December 2010/30 June 2009
31.12.2010
30.6.2009
RM’000
RM’000
-
-
943
(362)
-
581
31.12.2010
30.6.2009
RM’000
RM’000
Family Takaful
31.12.2010
30.6.2009
RM’000
RM’000
1,471 22,872 800 -
-
(1,471)
-
-
(22,872)
890 581 -
-
-
-
(800)
800
-
-
1,471 -
800
The proposed sale of investment properties was aborted during the financial period as the potential buyer had withdrawn
from the transaction. Accordingly, the properties has been reclassified to Investment Properties.
13 Cash and bank balances
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
Current account with a related company
(Islamic financial institution)
Other current accounts
167 2,524 1,933 5,663 348 1,973 1,690
4,783
2,691 7,596 2,321 6,473
1,019
8,285
25,104 28,154 1,516
2,852
23,970
24,012
9,304
53,258 4,368
47,982
23 11,818 1,250 7,676 -
10,152 40
5,646
11,841 8,926 10,152 5,686
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Family Takaful
General Takaful
14 Payables
Group
31.12.2010
Due to retakaful companies
Advanced takaful contribution
Deposit payable
Zakat payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to General Takaful Fund (Note 11)
Due to ILB (Note 33)
Wakalah fee reserves
Other payables and accruals
-
-
-
278
1,231
-
-
463 -
12,502
33,337
4,912 15,624 -
2,423
-
-
24,273
6,692 1,621 -
118,185
29,013
7,150
4,348
3,160
12,329
45,471
Total payables
47,811
173,730
101,471
147
148
14 Payables (continued)
Group
30.6.2009
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Deposit payable
Zakat payable
Unclaimed monies
Due to Family Takaful Fund (Note 11)
-
-
-
648
1,221
2,188 -
4,182 7,217 -
31,020 8,832 20,320 7,391 2,258
-
1,597 11,395 7,191 -
-
127,338 29,105
11,866
9,292
11,758
19,148
7
51,059
Total payables
46,476 186,322 132,235
Company
31.12.2010
Deposit payable
Zakat payable
Unclaimed monies
-
-
-
278 154 -
-
-
-
9,800
22,489
1,928 15,624 -
1,908 -
-
17,859 6,692 1,621 -
110,821 24,872
7,150
4,253
3,160
12,329
41,856
Total payables
32,721 156,453 93,620
14 Payables (continued)
Company
30.6.2009
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Deposit payable
Zakat payable Unclaimed monies
-
-
-
648 379 2,188 -
-
7,217 -
22,645 1,271 20,320 7,391 2,119 -
1,597 -
7,191 -
-
127,202 22,370
11,866
9,211
11,757
19,148
7
50,572
Total payables 33,077 167,091 124,931
15 Provision for outstanding claims
Group
31.12.2010
Family
General Takaful
Takaful
RM’000
RM’000
30.6.2009
Family
General
Takaful
Takaful
RM’000
RM’000
Retakaful recoveries
44,282 (266)
381,527 (154,882)
51,546 (3,416)
315,848
(144,443)
Net outstanding claims
44,016 226,645 48,130 171,405
43,202 (266)
355,373 (154,882)
44,096 (3,416)
289,647
(144,443)
Net outstanding claims
42,936 200,491 40,680 145,204
Company
149
150
16 Deferred taxation
Deferred tax assets and liabilities are attributable to the following:-
Group
Qardh receivables
Investments
Receivables
Payables
Wakalah fee reserves Unabsorbed capital allowances
Unabsorbed tax losses
Assets
31.12.2010
30.6.2009
RM’000
RM’000
Liabilities
31.12.2010
30.6.2009
RM’000
RM’000
Net
31.12.2010
RM’000
30.6.2009
RM’000
(32)
-
-
(1,345)
(1,933)
-
(3,931)
(121)
(3,124)
-
(2,752)
-
-
(2,303)
(1,084)
(2,931)
-
(5,124)
-
-
(5,617)
(442)
-
-
259 -
-
-
-
-
-
-
-
1,951 7,069 -
-
-
16 -
280 -
-
-
(32)
-
259 (1,345)
(1,933)
-
(3,931)
(121)
(3,124)
-
(2,752)
1,951
7,069
(2,303)
(1,084)
(2,931)
16
(5,124)
280
(5,617)
(442)
Tax (assets)/liabilities
Set off of tax
(13,238)
259 (17,501)
9,316 259 (259)
9,316 (9,316)
(12,979)
-
(8,185)
-
Net tax (assets)/liabilities
(12,979)
(8,185)
-
-
(12,979)
(8,185)
Liabilities
31.12.2010
30.6.2009
RM’000
RM’000
31.12.2010
RM’000
Company
Assets
31.12.2010
30.6.2009
RM’000
RM’000
Net
30.6.2009
RM’000
Qardh receivables
Investments
Receivables
Payables
Wakalah fee reserves Unabsorbed capital allowances
-
-
-
(1,345)
(1,577)
-
(2,081)
(121)
(2,449)
-
-
-
(974)
(1,066)
(2,209)
-
(3,491)
-
-
(5,617)
-
-
1,588 -
-
-
-
-
-
-
1,951 7,069 -
-
-
16 -
26 -
-
-
-
1,588 (1,345)
(1,577)
-
(2,081)
(121)
(2,449)
-
1,951
7,069
(974)
(1,066)
(2,209)
16
(3,491)
26
(5,617)
Tax (assets)/liabilities
Set off of tax
(7,573)
1,588 (13,357)
9,062 1,588 (1,588)
9,062 (9,062)
(5,985)
-
(4,295)
-
Net tax (assets)/liabilities
(5,985)
(4,295)
-
-
(5,985)
(4,295)
16 Deferred taxation (continued)
Shareholdes’ Fund (continued)
Movement in temporary differences during the year/period:-
Recognised
As at Recognised
As at
in income
Exchange
1 July
in income
Exchange
30 June
statement Differences/
Group 2008
statement Differences
2009
(Note 30) Adjustment
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Property and
equipment Qardh
receivables Investments Financing
receivables Receivables Investment
properties Unearned
contribution
reserves Payables Wakalah fee
reserves
Unabsorbed
capital
allowances Unabsorbed
tax losses Tax (assets)/
liabilities As at 31
December
2010
RM’000
3,595 (1,825)
181 1,951 (1,985)
2
(32)
21,024 (906)
(13,955)
(68)
-
(1,329)
7,069 (2,303)
(7,069)
2,562
-
-
259
(2,091)
(3,468)
1,008 387 (1)
150 (1,084)
(2,931)
(260)
1,006 (1) (8) -
269 11 280 (409) 8
(121)
-
(6,177)
16 (65)
-
1,118 16 (5,124)
(16)
1,176
-
17 (3,931)
(3,124)
-
(3,124)
-
-
(1,345)
(1,933)
-
-
(9,022)
3,405 -
(5,617)
5,617 -
(19,595)
19,190 (37)
(442)
(2,392)
82 (2,752)
(16,640)
8,362 93 (8,185)
(4,894)
100
(12,979)
Recognised
As at Recognised
As at
in income
1 July
in income
30 June
statement Company 2008
statement
2009
(Note 30)
RM’000 RM’000 RM’000 RM’000 -
As at 31
December
2010
RM’000
Property and equipment Qardh receivables Investments Financing receivables Receivables Investment properties Unearned contribution reserves Payables Wakalah fee reserves Unabsorbed capital allowances
Unabsorbed tax losses 3,778 21,024 (906)
(2,091)
(2,595)
-
-
(3,031)
-
(9,022)
(19,595)
(1,827)
(13,955)
(68)
1,025 386 26 16 (460)
-
3,405 19,595 1,951 7,069 (974)
(1,066)
(2,209)
26 16 (3,491)
-
(5,617)
-
(1,951)
(7,069)
2,562 (279)
632 (147)
(16)
1,410
(2,449)
5,617 -
1,588
(1,345)
(1,577)
(121)
(2,081)
(2,449)
-
Tax (assets)/liabilities (12,438)
8,143
(4,295)
(1,690)
(5,985)
151
152
17 Minority shareholders’ interests
This consists of the minority shareholder’s proportion of share capital and reserves of subsidiaries.
18 Family Takaful Fund
Group
31.12.2010
30.6.2009
RM’000
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
Participants’ Account (PA)
At beginning of the period/year
Increase in PA
Profit attributable to participants
Special reserve Translation reserve
Seed capital
2,063,080 23,152 196,830 7,413 (2,146)
3,000 1,930,073 57,321 57,366 3,625 (4,071)
18,766 1,895,140 3,484 157,757 7,413 -
3,000 1,775,038
37,875
59,836
3,625
18,766
At end of the period/year
2,291,329 2,063,080 2,066,794 1,895,140
678,815 606,290 677,642 606,484
Increase in PSA
Movement in actuarial reserves
Translation reserve
127,683 63,043 428 (1,173)
45,968 26,870 -
(313)
126,542 53,149 428 -
44,576
26,582
-
868,796 678,815 857,761 677,642
373,479 374,903 372,269 368,390
Movement in Qardh
Movement in actuarial reserves
38,530 (29,170)
(18,730)
(287)
46,801 (55,840)
8,270 (655)
37,828 (28,274)
(19,670)
-
46,724
(52,587)
9,742
-
363,822 373,479 362,153 372,269
3,523,947 3,115,374 3,286,708 2,945,051
Participants’ Special Account (PSA)
Group Family Takaful Account (GFTA)
Family Takaful fund at end of the period/year
18 Family Takaful Fund (continued)
In the valuation of the Ordinary Participants’ Special Account (PSA) and Mortgage Reducing Term Takaful (MRTT) of
the Ordinary Group Family Takaful Account (GFTA) of the Company carried out by a qualified internal actuary, the net
contribution method of valuation (with negative reserves eliminated) was used, based on certain underlying assumptions,
including interest rates, mortality rates and disability rates. As with all projections, the projected future liability payable
may be different from the actual amount payable due to inherent uncertainty involved in the assumptions used. For
other products of GFTA, the unearned contribution reserves (UCR) were calculated by the Company, using the 1/365
method.
In respect of the PSA and the Annuity Waqaf Account, the statutory valuation of the Company’s Family Takaful Fund
was made for the period ended 31 December 2010 and the results (before shareholders’ transfer) showed a surplus of
RM304,810,000 (2009: RM222,168,000) for the Company when compared the fund balance against the actuarial projected
liabilities.
In respect of the GFTA, the statutory valuation of the Company’s Group Family Takaful Fund was made for the period
ended 31 December 2010. During the year ended 30 June 2008, a Qardh was made in the GFTA of RM80,861,000 to make
good the deficit in the fund for MRTT business. The deficit for the MRTT business has reduced to RM23,430,000 as at
31 December 2010 and Qardh was fully repaid during the financial period. No further injection of Qardh is required
as there is sufficient other surplus from the GFTA other products valuation to mitigate the shortfall. GFTA for other
products showed a reserving surplus (before shareholders’ transfer) of RM161,829,000 (2009: RM126,874,000) for the
Company.
The valuation of the Participants’ Special Account (PSA) and Group Family Takaful Account (GFTA) of the Indonesian
subsidiary was carried out by a qualified internal actuary. The method used for PSA is based on prospective method
(net level premium) on a policy-by-policy basis for inforce policies. As for the GFTA funds, the unearned contribution
reserves were calculated by using the 1/365 method.
The statutory valuation of the subsidiary’s PSA and GFTA made for the period ended 31 December 2010, showed a
deficit of RM1,078,000.
19 General Takaful Fund
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
Revenue account accumulated surplus
Unearned contribution reserves (Note 20)
Special reserves
Statutory liabilities - Qardh
118,573 263,829 23,061 19,074 6,075 61,650 230,121 23,061 19,245 2,890 155,683 242,456 23,061 -
-
92,796
210,600
23,061
-
430,612 336,967 421,200
326,457
61,650 40,639 92,796 63,393
73,663
44,505 79,119
52,642
(16,740)
(23,494)
(16,232)
(23,239)
118,573
61,650 155,683 92,796
Revenue account accumulated surplus
As at 1 July Net surplus attributable to participants
for the financial period/year
Profits payable to participants for the
Balance as at 31 December 153
154
20 Unearned Contribution Reserves
Group
Fire
Motor
31.12.2010
RM’000
RM’000
At beginning of the period
Increase/(Decrease) in unearned
At end of the period
30.6.2009
At beginning of the year
Incease/(Decrease) in unearned
At end of the year
30.6.2009
At end of the year
Total
RM’000
133,026 67,335 2,825 26,935 230,121
16,739 19,453 414 (2,898)
33,708
149,765 86,788 3,239 24,037 263,829
128,315 42,505 3,027 20,473 194,320
4,711 24,830 (202)
6,462 35,801
133,026 67,335 2,825 26,935 230,121
Marine
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
Company
Fire
Motor
31.12.2010
RM’000
RM’000
Marine
Aviation
RM’000
RM’000
131,386 61,005 307 17,902 210,600
16,987 19,777 424 (5,332)
31,856
148,373 80,782 731 12,570 242,456
125,645 36,807 529 19,181 182,162
5,741 24,198 (222)
(1,279)
28,438
131,386 61,005 307 17,902 210,600
21 Share capital and reserves
Group and Company
31.12.2010
30.6.2009
RM’000
RM’000
Authorised
Ordinary shares of RM1.00 each
500,000
500,000
Issued and fully paid
Ordinary shares of RM1.00 each at 1 July 2009/2008
Issue of shares under the employee share option scheme
162,817 -
161,576
1,241
On issue at 31 December 2010/30 June 2009
162,817
162,817
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one
vote per share at meetings of the Company.
22 Dividends
Sen per share
1.7.2009 to 31.12.2010
(net of tax)
Total
amount
RM’000
Date of
payment
Ordinary dividend paid, final for financial year 2009
5.44 8,853 11/12/2009
Ordinary dividend paid, interim for financial period 2010
5.25
8,548 8/10/2010
1.7.2008 to 30.6.2009
Ordinary dividend paid, final for financial year 2008
2.63 4,274 9/1/2009
*
After the balance sheet date, the following dividends were proposed by the Directors. These dividends will be
recognised in subsequent financial reports upon approval by the shareholders.
Sen per share
(net of tax)
Final proposed for financial period 2010 - ordinary
5.25
Total
amount
RM’000
8,548
155
156
23 Operating Revenue
Group
1.7.2009 to 31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
Gross contributions
Investment income (Note 24) -
17,086 839,909 228,693 606,354 36,546 1,446,263
282,325
17,086 1,068,602 642,900
1,728,588
1.7.2008 to 30.6.2009
Gross contributions Investment income (Note 24) -
9,289 524,867 138,850 352,851 23,277 877,718
171,416
9,289 663,717 376,128 1,049,134
Company
Gross contributions
Investment income (Note 24)
-
12,352 679,831 213,420 499,491 35,641 1,179,322
261,413
12,352 893,251 535,132
1,440,735
1.7.2009 to 31.12.2010
1.7.2008 to 30.6.2009
Gross contributions Investment income (Note 24) -
6,678 433,007 132,607 276,294 22,491 709,301
161,776
6,678 565,614 298,785 871,077
24 Investment income
Group
1.7.2009 to 31.12.2010
Deposit/money market placements
Financing
- Staff
- Corporate
Other income from investments
Gross dividend from Shariah approved shares
- Quoted in Malaysia
Rental of investment properties
Investment expenses
Total investment income
1.7.2008 to 30.6.2009
Financing
- Staff
- Corporate
Investment expenses
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
4,115 7,742 124,716 26,491 16,836
6,310
1,088 311 2,514 -
1,010 136 585
1,953
1,499 -
649 (329)
(503)
21,586 32,396 16,312 7,124 (1,078)
2,337
5,889
1,747
1,068
(179)
17,086 228,693 36,546
1,107 4,044 74,999 28,028 8,584
5,913
392 239 433 -
995 -
381
800
1,305 -
2,063 (64)
(230)
8,274 15,939 9,217 4,460 (3,062)
9,289 138,850 2,177
3,170
1,759
799
(306)
23,277
157
158
24 Investment income (continued)
Company
1.7.2009 to 31.12.2010
Financing
- Staff
- Corporate
Investment expenses
1.7.2008 to 30.6.2009
Financing
- Staff
- Corporate
Investment expenses
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
2,721 5,287 115,889 20,846 16,582
5,659
473 311 2,288 -
1,010 136 585
1,953
1,461 -
643 (329)
(503)
21,586 32,396 15,511 7,124 (1,078)
2,337
5,889
1,747
1,068
(179)
12,352 213,420 35,641
608 2,014 72,082 25,663 8,584
5,127
392 239 356 -
633 -
381
800
1,305 -
2,058 (64)
(230) 6,678 8,274 15,939 8,618 4,460 (3,062) 132,607 2,177
3,170
1,759
799
(306)
22,491
25 Other operating income
Group
1.7.2009 to 31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Income from ILB, service charge and management fees
Increase in value of investments
Miscellaneous income Fair value gain arising from investment properties
Writeback of allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
Writeback of allowance for diminution in value of investments
Gain on disposal of investments
Gain on disposal of property and equipment 10,363 -
5,305 -
2,264 -
2,163 6,125 104 -
30,592
9,498 2,254 7,887 125 31,066
62,891 46 827
280
12,260
124
1,839
13,892
-
26,324 144,359 29,222
7,363 7,860 121 -
2,045 44 356 61 -
213 16,200 -
3,203 1,038 754 -
17,850 21,408 1.7.2008 to 30.6.2009
Gain on disposal of investment property
Gain on disposal of property and equipment (13)
1,700
5,578
1,950
957
396
10,568
159
160
25 Other operating income (continued)
Company
1.7.2009 to 31.12.2010
Increase in value of investments
Miscellaneous income
Fair value gain arising from investment properties
Writeback of allowance for diminution in value of investments
1.7.2008 to 30.6.2009
Gain on disposal of investment properties
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
7,996 -
-
-
-
-
1,497 6,125 54 -
16,529
15,061
2,075 -
125
25,333
53,662 -
2,819
280
11,780
124
1,416
13,892
-
15,672 112,785
30,311
6,491 2,218 120 -
2,045 31 356 26 -
591 15,456 -
3,276 14,007 754 -
1,700
5,578
1,950
942
396
-
11,287 34,084 10,566
26 Management expenses
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2008
to
30.6.2009
RM’000
Staff costs
Directors’ remuneration
- Salaries and other emoluments
- Fees
Shariah Committee remuneration
- Emoluments
- Fees
121,480 76,277 103,368 61,559
5,574 983 2,726 766 5,165 721 2,140
350
207 155 9
148 71 153 9
90
128,399 79,926 109,478 64,148
13,307 400 10,567 250 11,943 45 9,133
30
374 89 616 323 11,058 11,701 4,061 10,325 4,968 4,107 9,901 5,228 12,502 23,922 300 61 371 374 8,928 8,261 5,067 5,759 3,266 2,292 6,113 2,539 -
14,346 340 -
522 145 10,640 8,948 4,047 9,553 4,223 3,244 7,363 3,721 9,800 8,199 280
371
97
8,752
6,401
5,059
5,290
2,557
2,073
4,472
1,524
2,699
112,882 68,494 82,733 48,738
Total management expenses
241,281 148,420 192,211 112,886
Depreciation
Amortisation of prepaid lease payments
Audit fees
- Company auditors
- Other auditors
Licence fees
Legal fees
Professional fees
Rental of properties
Rental of equipments
Repair and maintenance - property and equipment
Travelling expenses
Utilities
Communication costs
Advertising
Other expenses
Group
1.7.2009
to
31.12.2010
RM’000
All management expenses are incurred at the Shareholders’ fund level. The estimated monetary value of benefits-inkind received by the directors, are RM13,000 (2009: RM154,000) and RM13,000 (2009: RM93,000) at Group and Company
level respectively.
161
162
27 Other operating expenses
Group
1.7.2009 to 31.12.2010
Write off of equipment and other assets
Fair value loss arising from investment properties
Qardh written off
Commissions
Miscellaneous expenses
Administrative and general expenses Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
214 1,754 532 668 2,995 59,097 1,446
1,331 469 -
-
-
-
-
-
1,605
-
448
68,037
2,074
448
2,192 -
1,196 1,582 9,583 901 5,470 13,699
20,963 -
-
1,408 1,661
2,082
5,020
15,454 41,540 8,763
1,500 -
1,754 532 671 23,860 1,446
-
-
469 -
-
-
-
-
1,605
448
29,763 2,074
448
1,666 -
-
1,582 1,367 -
9,785
9,520
15,340 -
-
1,408 1,343
2,774
4,615 36,053 4,117
1.7.2008 to 30.6.2009
Allowance for diminution in value of investments
Decrease in value of investments Allowance for bad and doubtful debts
Write off of equipment
Commissions
Administrative and general expenses Company
1.7.2009 to 31.12.2010
Allowance for diminution in value of investment in subsidiary
Write off of equipment and other assets
Fair value loss arising from investment properties
Commissions
Miscellaneous expenses
Administrative and general expenses 1.7.2008 to 30.6.2009
Allowance for diminution in value of investments
Decrease in value of investments Allowance for bad and doubtful debts
Write off of equipment
Commissions
Administrative and general expenses Laporan Tahunan 2010 Annual Report • Syarikat Takaful Malaysia Berhad (131646-K)
28 Key Management Personnel Compensation
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
Directors
Executive:
Salaries and other emoluments
Benefits-in-kind
5,309
10
2,472 121 5,165
10
2,140
61
5,319
2,593 5,175
2,201
265
983
3
254 766 33 -
721
3
350
32
1,251
1,053
724
382
Other key management personnel:
Short-term employment benefits
Benefits-in-kind
5,451
180
3,515 114 4,417
-
2,248
10
5,631
3,629
4,417
2,258
Total
12,201
7,275 10,316
4,841
Non-Executive:
Other emoluments
Fees
Benefits-in-kind
29 Employee information
Group
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
121,480
76,277 Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
Staff costs
103,368 61,559
The number of employees of the Group and of the Company at the end of the period were 1,449 (2009: 1,488) and
925(2009: 945) respectively.
Staff costs of the Group and of the Company includes contributions to the Employees Provident Fund of RM13,564,512
(2009: RM8,046,947) and RM13,277,867 (2009 : RM7,843,780) respectively.
163
164
30 Tax expense
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
Current tax expense
Malaysian - current
Overseas - current
Under provision in prior years
36,579
17 7,919
-
37 -
36,579 -
7,919
-
44,515 37 44,498
-
Deferred tax (benefits)/expense
Origination and reversal of temporary differences
Over provision in prior years (4,894)
-
10,008 (1,646)
(1,690)
-
9,789
(1,646)
(4,894)
8,362 (1,690)
8,143
39,621
8,399 42,808
8,143
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
97,886
49,715 93,022
45,831
24,472 (14,104)
21,334
12,429 (5,263)
2,879 23,256 (7,618)
19,251
11,458
(4,843)
3,174
Under/(over) provision of tax in prior years 31,702
7,919
10,045 (1,646)
34,889 7,919
9,789
(1,646)
39,621
8,399 42,808
8,143
Reconciliation of effective tax expense
Income tax using Malaysian tax rate
Items not subject to tax
Non deductible expenses
Tax expense
31 Earnings per share - Group
(a) Basic earnings per share
The calculation of basic earnings per share is based on the net profit attributable to ordinary shareholders of
RM56,346,000 (2009 - RM39,394,000) and the weighted average number of ordinary shares issued during the period
of 162,817,000 (2009 - 162,716,000).
Weighted average number of ordinary shares
31.12.2010
’000 (units)
30.6.2009
’000 (units)
Issued ordinary shares at beginning of the period/year
Effect of new shares issued
162,817 -
161,576
1,140
Weighted average number of ordinary shares
162,817 162,716
32 Net Claims Incurred
Fire
Motor
RM’000
RM’000
Group
1.7.2009 to 31.12.2010
Gross claims paid less salvage
Net claims paid
Net outstanding claims:
Net claims incurred
1.7.2008 to 30.6.2009
Net claims paid
At end of the year
Net claims incurred
Marine,
Aviation
RM’000
RM’000
Total
RM’000
54,964 (33,900)
103,742 (4,864)
59,690 (52,954)
83,710 (37,755)
302,106
(129,473)
21,064 98,878 6,736 45,955 172,633
25,193 (26,823)
136,471 (76,509)
14,886 (10,643)
50,095 (57,430)
226,645
(171,405)
19,434 158,840 10,979 38,620 227,873
46,110 (30,218)
50,540 (5,279)
23,532 (18,049)
40,095 (15,730)
160,277
(69,276)
15,892 45,261 5,483 24,365 91,001
26,823 (44,519)
76,509 (62,587)
10,643 (12,904)
57,430 (65,588)
171,405
(185,598)
(1,804)
59,183 3,222 16,207 76,808
165
166
32 Net Claims Incurred (continued)
Fire
Motor
RM’000
RM’000
Company
1.7.2009 to 31.12.2010
Net claims paid
Net claims incurred
1.7.2008 to 30.6.2009
Net claims paid
At end of the year
Net claims incurred
Marine,
Aviation
RM’000
RM’000
Total
RM’000
33,040 (18,679)
82,931 (2,599)
51,267 (48,984)
72,512 (33,710)
239,750
(103,972)
14,361 80,332 2,283 38,802 135,778
20,267 (21,050)
129,010 (70,090)
10,586 (6,138)
40,628 (47,926)
200,491
(145,204)
13,578 139,252 6,731 31,504 191,065
38,522 (29,483)
41,137 (4,091)
21,347 (17,868)
34,505 (15,319)
135,511
(66,761)
9,039 37,046 3,479 19,186 68,750
21,050 (34,665)
70,090 (57,961)
6,138 (7,065)
47,926 (54,742)
145,204
(154,433)
(4,576)
49,175 2,552 12,370 59,521
33 Investment-linked business (ILB)
Balance Sheet as at 31 December 2010 Assets
31.12.2010
RM’000
Group
30.6.2009
RM’000
Company
31.12.2010
30.6.2009
RM’000
RM’000
Investments (Note 8)
Receivables
193,861 3,098 1,621 -
2,471 181,268 5,053 -
7
7,278 127,145 3,098 1,621 -
2,078 130,061
5,052
7
6,357
Total ILB assets
201,051 193,606 133,942 141,477
Payables
453 3,253 68 -
3,073 3,242 3,908 4,377 453 3,253 68 -
3,073
3,242
3,908
4,377
Total ILB liabilities
3,774 14,600 3,774 14,600
197,277 179,006 130,168 126,877
Liabilities
Net asset value of funds
Revenue account for the period ended 31 Dcember 2010
Gross contributions
Retakaful
26,149 (75) 33,052 (132) 7,531 (75) 3,032
(132)
(Increase)/Decrease in unearned contribution reserves
26,074 (589) 32,920 9
7,456 (589) 2,900
9
Net contributions
25,485 32,929 6,867 2,909
Benefits paid and payable
Death/disability
Surrenders
Others
Maturities
(345) (48,187) (135) (233) (120) (12,702) (3) -
(345) (25,908) (135) (233) (120)
(3,858)
(3)
-
(48,900) (12,825) (26,621) (3,981)
(880) (11) -
(131) (880) (11) (131)
(20,645) (1,203)
Wakalah fee
Net administration fee
Underwriting (loss)/profit
(24,306) 19,973 167
168
33 Investment-linked business (ILB) (continued)
Comprises:
Underwriting (loss)/profit - Individual Family ILB
Underwriting profit - Group Family ILB
Less: Underwriting (loss)/profit - Individual Family ILB
Underwriting profit - Group Family ILB
Investment income
Profit/(loss) attributable to the Company and
participants after excluding underwriting profit
Individual Family ILB
Profit attributable to the Company transferred
to Income Statement
Profit/(loss) attributable to participants
for the period/year
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
(26,502)
2,196 19,660 313 (22,841)
2,196 (1,516)
313
(24,306)
26,502
19,973 (19,660)
(20,645)
22,841
(1,203)
1,516
2,196 2,409 39,793 (1,782)
313 (12,312)
115 (16,671)
2,196 2,409 20,850 (1,782)
313
1,254
115
(12,300)
42,616
(28,555)
23,673
(10,618)
(1,130)
(177)
(1,130)
(177)
41,486
(28,732)
22,543
(10,795)
Family ILB Fund at beginning of the period/year
Underwriting (loss)/profit - Individual Family ILB
Profit/(loss) attributable to participants
for the period/year
Seed capital
179,006 (26,502)
165,050 19,660 126,877 (22,841)
120,431
(1,516)
41,486
589 3,000 (302)
(28,732)
(9)
18,766 4,271 22,543
589 3,000 -
(10,795)
(9)
18,766
-
197,277 179,006 130,168 126,877
Family ILB Fund at end of the period/year 34 Related parties
For the purposes of these financial statements, parties are considered to be related to the Group or the Company if the
Group or the Company has the ability, directly or indirectly, to control the party or exercise significant influence over
the party in making financial and operating decisions, or vice versa, or where the Group or the Company and the party
are subject to common control or common significant influence. Related parties may be individuals or other entities.
34 Related parties (continued)
Key management personnel are defined as those persons having authority and responsibility for planning, directing
and controlling the activities of the Group either directly or indirectly. The key management personnel includes all
the Directors of the Group, and certain members of senior management of the Group. Compensation paid to key
management personnel have been disclosed in Note 28.
Significant transactions with related parties during the period/year are as follows. Balances outstanding in respect of
these transactions are disclosed in Notes 11 and 14.
Ultimate holding corporation
Contribution income for family takaful
Contribution income for general takaful
Subsidiary company (Note 6)
Contribution for facultative and treaty outward
Related companies
Rental income
Contribution for family takaful
Contribution for general takaful
Investment income
Lease rental expense
Bank commissions
Group
Company
1.7.2009
1.7.2008
to
to
31.12.2010
30.6.2009
RM’000
RM’000
1.7.2009
to
31.12.2010
RM’000
1.7.2008
to
30.6.2009
RM’000
866
1,891
3,011
2,459
866
1,891
3,011
2,459
-
-
49 1,021
4,414 1,326
3,023
933
591
928
7,368 -
2,020
927
394 234
4,414 1,326
3,023
933
591 928
7,368
2,020
927
394
234
35 Operating leases
Total future minimum lease payments under non-cancellable operating leases are as follows:
Non-related parties:
Less than one year
Between one and five years
Related party:
Less than one year
Between one and five years
Group and Company
31.12.2010
30.6.2009
RM’000
RM’000
1,195 1,585 495
4,487
38 493 38
1,084
Lease commitments are wholly payable from the Shareholders’ fund.
The Group and the Company lease a number of computers and equipment under operating leases. The leases typically
run an initial period of five years, with an option to renew the lease after that date.
169
170
36 Capital commitments
Group and Company
31.12.2010
30.6.2009
RM’000
RM’000
Authorised by the Directors and contracted for
23,623 1,841
37 Segmental information
Segment information is presented in respect of the Group’s geographical segments. This is based on the Group’s
management and internal reporting structure. Inter-segment pricing if any, is determined based on negotiated terms.
The Group does not present information by business segment as it is principally engaged as an operator of Family
and General takaful/retakaful business. The financial position and performance of the Family and General takaful
businesses managed have been disclosed separately within these financial statements.
Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be
allocated on a reasonable basis. Unallocated items comprise expenses, which are all incurred by Shareholders Funds’
for the management of Takaful funds.
Segment capital expenditure is the total cost incurred during the year to acquire segment assets that are expected to
be used for more than one year.
Geographical segments
In presenting information on the basis of geographical segments, segment revenue is based on the geographical location
of customers. Segment assets are also based on the geographical location of assets.
Malaysia
RM’000
Indonesia
RM’000
Eliminations
RM’000
Consolidated
RM’000
1.7.2009 to 31.12.2010
Total external revenue
Inter-segment revenue
1,464,794
-
263,794 -
-
-
1,728,588
-
Total segment revenue
1,464,794
263,794 -
1,728,588
Segment result
89,559
8,327 -
97,886
Finance costs
-
Zakat
Tax expense
97,886
(516)
(39,621)
Profit for the period
57,749
37 Segmental information (continued)
Malaysia
RM’000
Indonesia
RM’000
Eliminations
RM’000
Consolidated
RM’000
Segment assets by location of assets
4,610,122 334,329 -
4,944,451
Segment liabilities by location of liabilties
4,249,571
281,836
-
4,531,407
Capital expenditure by location of assets
6,618
1,330
-
7,948
Depreciation and amortisation
11,988 1,719
-
13,707
27
1,184
-
1,211
Non cash expenses other than
depreciation and amortisation
1.7.2008 to 30.6.2009
Total external revenue
Inter-segment revenue
896,982 -
152,152 -
-
-
1,049,134
-
Total segment revenue
896,982 152,152 -
1,049,134
Segment result
48,512 1,203 -
49,715
Finance costs
-
Zakat
Tax expense
49,715
(862)
(8,399)
Profit for the year
40,454
Segment assets by location of assets
4,114,287 257,948 -
4,372,235
Segment liabilities by location of liabilties
3,788,199 206,591 -
3,994,790
Capital expenditure by location of assets
4,152 693 -
4,845
Depreciation and amortisation
9,163 1,654 -
10,817
23,192 -
-
23,192
Non cash expenses other than
depreciation and amortisation
171
172
Segmental Information on Cash Flow
Group
1.7.2009 to 31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
20,288
(7,792)
(17,401)
(49,767)
1,006
-
2,915 -
-
(26,564)
(6,786)
(17,401)
(4,905)
(48,761)
2,915 (50,751)
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents:
(4,905)
(48,761)
2,915 (50,751)
7,596 60,536 8,926 77,058
2,691
11,775 11,841 26,307
Cash flows from:
Operating activities
Investing activities
Financing activities
(9,900)
10,085 (2,784)
(86,851)
30,538 -
(47,545)
16,194 -
(144,296)
56,817
(2,784)
(2,599)
(56,313)
(31,351)
(90,263)
(2,599)
(56,313)
(31,351)
(90,263)
10,195 116,849 40,277 167,321
7,596 60,536 8,926 77,058
Cash flows from:
Total
RM’000
1.7.2008 to 30.6.2009
At end of the year
Segmental Information on Cash Flow (continued)
Company
1.7.2009 to 31.12.2010
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
19,748 (6,498)
(17,401)
(48,694)
800 -
4,466 -
-
(24,480)
(5,698)
(17,401)
(4,151)
(47,894)
4,466 (47,579)
Net (decrease)/increase in cash and cash equivalents
(4,151)
(47,894)
4,466 (47,579)
6,473 54,339 5,686 66,498
2,322 6,445
10,152 18,919
12,315 (11,355)
(2,784)
(78,120)
30,766 -
(45,372)
16,194 -
(111,177)
35,605
(2,784)
(1,824)
(47,354)
(29,178)
(78,356)
(1,824)
(47,354)
(29,178)
(78,356)
8,297 101,693 34,864 144,854
6,473 54,339 5,686 66,498
Cash flows from:
1.7.2008 to 30.6.2009
Cash flows from:
Total
RM’000
At end of the year
173
174
38 Financial Risks
Financial risk management objectives and policies
Exposure to underwriting, credit, currency and liquidity risks arises in the normal course of the Group and the Company’s
operations. The Group and the Company are guided by risk management policies and guidelines that set out their
overall business strategies and general risk management philosophy. The Group and the Company have established
processes to monitor the risk on an ongoing basis.
Underwriting risk
Underwriting risk includes the risk of incurring higher claims costs than expected owing to the random nature of
claims and their frequency and severity and the risk of change in legal or economic conditions or behavioural patterns
affecting takaful pricing and conditions of takaful or retakaful cover. This may result in the situation of having either
received too little contribution for the risks it has agreed to underwrite and hence has not enough funds to invest and
pay claim, or claims are in excess of those expected.
The Group and the Company seek to minimise underwriting risks with a balanced mix and spread of business between
classes of business and by observing underwriting guidelines and limits, conservative estimation of the claims provisions
and high standards applied to security for retakaful.
Credit risk
Credit risk represents the loss that would be recognised if counter parties to takaful, retakaful and investment
transactions failed to perform as contracted. Exposure to credit risk is monitored on an ongoing basis.
At balance sheet date, approximately 5.2% of the Group and the Company’s fixed deposits are placed with a related
company. The maximum exposure to credit risk for the Group and the Company is represented by the carrying amount
of each financial asset.
Foreign currency risk
The Group and the Company incur foreign currency risk on transactions that are denominated in a currency other
than Ringgit Malaysia and also the translation of the financial statements of the subsidiaries to Ringgit Malaysia. The
Group and the Company do not hedge their foreign currency risks and therefore exposures to foreign currency risk are
monitored on an ongoing basis.
Liquidity risk
The Group monitors and maintains a level of cash and cash equivalents deemed adequate by management to finance
the Group’s operations and to mitigate the effects of fluctuations in cash flows.
38 Financial Risks (continued)
Financial instruments
Effective profit rates and repricing analysis
In respect of profit-earning financial assets, the following table indicates their effective profit rates at the balance sheet
date and the periods in which they reprice or mature, whichever is earlier.
Group
31.12.2010
Effective
Profit
Rate
Total
% 
RM’000
More
than
5 years
RM’000
Financial assets
Secured financing
Deposit and money
market placement
Staff financing
5.92
9.05
3.19
3.74
Total
Group
30.6.2009
Financial assets
Secured financing
Deposit and money
market placement
Staff financing
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
4.29
10.57
2.40
3.55
Total
45,425 1,647 172 8
5,583 17 25,829 1,609 -
13 3,929 -
9,912
-
199,894 199,894 12,791 18 -
78 -
151 -
408 -
1,665 10,471
259,757
200,092
5,678
27,589
421
5,594
20,383
70,539 2,364 21,456 1,757 863 22 1,380 191 690 262 12,281 132 33,869
-
112,039 111,839 11,654 2,061 200 24 -
147 -
161 -
771 8,490
1,109
1,718
1,113
13,184
42,359
196,596
137,113
175
176
Family Takaful Fund
Group
31.12.2010
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
More
than
5 years
RM’000
Financial assets
Malaysian Government
Islamic papers
Secured and
unsecured financing
Deposit and money
market placement
5.34
1,562,567 41,290 4.02
571,142 4,895 10,011 29,964 5,111 88,730 432,431
4.72
72,376 -
-
2,376 -
-
70,000
3.23
568,877 538,929 21,948 -
-
3,000 5,000
Total
2,774,962 585,114 69,868 166,162 88,448 261,871 1,603,499
5.47
1,406,668 32,601 36,022 99,483 89,073 79,350 1,070,139
3.50
519,996 -
-
73,580 20,018 5,160 421,238
11.27
9,382 2,986 -
-
3,382 3,000 14
2.85
575,962 506,371 26,030 38,561 -
-
5,000
Total
2,512,008 541,958 62,052 211,624 112,473 Group
30.6.2009
Financial assets
Islamic papers
Secured and
unsecured financing
Deposit and money
market placement
Effective
Profit
Rate
Total
% 
RM’000
37,909 133,822 83,337 170,141 1,096,068
87,510 1,496,391
General Takaful Fund
Group
31.12.2010
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
More
than
5 years
RM’000
4.83
249,477 13,843 10,685 31,529 39,377 20,610 Malaysian Government Islamic papers
4.18
119,767 -
-
-
20,377 21,390 Secured and
unsecured financing
5.50
6,320 -
-
1,320 -
-
Deposit and money market placement
3.28
175,039 171,564 1,475 -
-
2,000 133,433
Total
Financial assets
Group
30.6.2009
Financial assets
Islamic papers
Secured and
unsecured financing
Deposit and money
market placement
Effective
Profit
Rate
Total
% 
RM’000
78,000
5,000
-
550,603 185,407 12,160 32,849 59,754 44,000 216,433
4.85
228,542 -
10,021 32,880 13,905 21,222 150,514
3.35
98,024 -
-
18,615 -
15,337 64,072
9.42
3,478 1,478 -
-
-
2,000 -
126,649 113,334 9,440 3,875 -
-
-
19,461
55,370
13,905
38,559
214,586
3.01
Total
456,693
114,812
177
178
Company
31.12.2010
Effective
Profit
Rate
Total
% 
RM’000
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
More
than
5 years
RM’000
Financial assets
Secured financing
Deposit and money
market placement
Staff financing
-
-
3,525 -
25,829 1,584 -
-
3,586 -
9,569
-
3.21
3.55
139,848 139,848 8,699 15 -
58 -
115 -
313 -
1,059 7,139
Total
192,640 139,863 3,583 27,528 313 4,645 16,708
Company
30.6.2009
Financial assets
Secured financing
Deposit and money
market placement
Staff financing
5.49
9.00
42,509 1,584 6.17 10.00 40,630 1,757 -
1,757 -
-
-
-
-
-
10,901 -
29,729
-
2.36 3.55 78,477 11,654 78,277 2,061 200 24 -
147 -
161 -
771 8,490
Total
132,518
82,095
224
147
161
11,672
38,219
Family Takaful Fund
Company
31.12.2010
Financial assets
5.53
1,506,281 35,387 30,097 124,172 64,760 166,557 1,085,308
Islamic papers
4.02
571,142 4,895 10,011 29,964 5,111 88,730 432,431
Secured and
unsecured financing
4.72
72,376 -
-
2,376 -
-
70,000
Deposit and money
market placement
2.92
484,773 454,825 21,948 -
-
3,000 5,000
Total
2,634,572 495,107 62,056 156,512 69,871 258,287 1,592,739
Family Takaful Fund (continued)
Company
30.6.2009
Effective
Profit
Rate
Total
% 
RM’000
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
More
than
5 years
RM’000
Financial assets
Islamic papers
Secured and
unsecured financing
Deposit and money
market placement
5.50
1,371,336 30,044 29,122 89,133 82,173 3.50
519,996 -
-
73,580 20,018 5,160 421,238
9.47
5,662 2,662 -
-
-
3,000 -
519,227 449,636 26,030 38,561 -
-
5,000
55,152
201,274
102,191
3.04
Total
Company
31.12.2010
Financial assets
2,416,221
482,342
70,725 1,070,139
78,885 1,496,377
4.78
247,762 13,843 9,999 31,529 38,691 20,267 Malaysian Government
Islamic papers
4.18
119,767 -
-
-
20,377 21,390 Secured and
unsecured financing
5.50
6,320 -
-
1,320 -
-
Deposit and money
market placement
3.11
157,548 154,073 1,475 -
-
2,000 133,433
Total
216,433
531,397
167,916
11,474
32,849
59,068
43,657
78,000
5,000
-
179
180
Company
30.6.2009
Less
than
1-2
2 -3
3-4
4-5
1 year
years
years
years
years
RM’000 RM’000 RM’000 RM’000 RM’000
More
than
5 years
RM’000
Financial assets
Islamic papers
Secured and
unsecured financing
Deposit and money
market placement
Effective
Profit
Rate
Total
% 
RM’000
4.85
228,542 -
10,021 32,880 13,905 21,222 150,514
3.35
98,024 -
-
18,615 -
15,337 64,072
9.42
3,478 1,478 -
-
-
2,000 -
2.90
106,193 92,878 9,440 3,875 -
-
-
Total
436,237
94,356
19,461
55,370
13,905
38,559
214,586
39 Retained Profits
Subject to agreement by the Inland Revenue Board, the Company has sufficient Section 108 tax credit to frank
approximately RM19.8 million of its retained profits at 31 December 2010 if paid out as taxable dividends.
The Malaysian Budget 2008 introduced a single tier company income tax system with effect from year of assessment
2008. As such, the section 108 tax credit balance as at 31 December 2007 will be available to the Company until such
time the credit is fully utilised or upon expiry of the six year transitional period on 31 December 2013, whichever is
earlier.
40 Contingent liability
Prior to the amendments of Section 60AA of the Income Tax Act 1967 (Section 60AA), capital allowances had been claimed
by way of deduction from tax adjusted income in both General and Family Takaful Funds whilst the Shareholders Fund
is not entitled to claim capital allowances. The amended Section 60AA stipulates that the tax adjusted income of the
Shareholders’ Fund shall be ascertained by taking into account the amount of income distributed or credited from
Family and General Takaful Funds and as a result both General and Family Takaful Funds would no longer have taxable
income. As such, capital allowances of the said Funds claimable for the years of assessment from 1997 to 2008 would
be carried forward indefinitely as the operator’s share of profits from the Family and General Fund will be taxed in the
Shareholders Fund.
The Company has presented the issue on non-deductibility of capital allowances to the Ministry of Finance (MOF) on
30 March 2009. The MOF has agreed via letter dated 2 April 2009 to review the tax issue and thereafter, will advise the
Company accordingly. Whilst, the Company will continue to pursue the appeal with the MOF, no credit for deferred tax
asset has been taken in relation to unabsorbed capital allowances for year of assessment 2008 onwards.
40 Contingent liability (continued)
During the financial period, the Inland Revenue Board has issued Forms JA (additional assessments) for years of
assessment 1997, 1999 and 2000 CYB to 2004 amounting to RM16.3 million based on the amended Section 60AA. The
Company has appealed against the said Forms JA with reference to the Ministry of Finance (MoF)’s letter dated 30
January 2008 issued to the Malaysian Takaful Association. The MOF letter states that the Minister of Finance agrees
to allow an exemption from income tax on the additional income arising from the application of the different tax
treatment prior and subsequent to the Budget 2008 announcement beginning from the year of assessment 1997 under
Section 127 (3A) of the Income Tax Act 1967 for companies in the takaful industry.
Based on the opinion of the Company’s tax agent and by virtue of the MOF’s letter and provision of Section 127 (3A),
the Board of Directors is of the view that the Company has a justification that these additional assessments will be
exempted.
41 Subsequent Event
On 4 March 2011, the Company was served with a Writ of Summons by Lembaga Kemajuan Tanah Persekutuan
(FELDA) whereby FELDA is claiming for among others death benefits of RM13,156,000 and personal accident benefits of
RM290,000 under a Group Family Takaful contract. The Court has fixed the matter for further Case Management on 30
March 2011.
Out of the total claims, the Company has provided for RM5,490,000 and as for the remaining claims, the Board of
Directors is of the view that there is a sustainable defence based on the legal opinion provided by the Company’s
solicitor.
181
182
42 Supplementary information on the breakdown of realised and unrealised profits or losses
On 25 March 2010, Bursa Malaysia Securities Berhad (“Bursa Malaysia”) issued a directive to all listed issuers pursuant
to Paragraphs 2.06 and 2.23 of Bursa Malaysia Main Market Listing Requirements. The directive requires all listed
issuers to disclose the breakdown of the unappropriated profits or accumulated losses as at the end of the reporting
period, into realised and unrealised profits or losses.
On 20 December 2010, Bursa Malaysia further issued another directive on the disclosure and the prescribed format of
presentation.
The breakdown of the retained profits of the Group and of the Company as at 31 December 2010, into realised and
unrealised profits, pursuant to the directive, is as follows:
Total retained profits of the Company and its subsidiaries:
- Realised
- Unrealised
Total share of retained profits of associates:
- Realised
- Unrealised
Add: Consolidation adjustments
Total retained profits
2010
Group
Company
RM’000
RM’000
205,370 (2,164)
240,945
(12,177)
203,206 228,768
-
-
-
21,960 -
225,166 228,768
The determination of realised and unrealised profits is based on the Guidance of Special Matter No.1, Determination
of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing
Requirements, issued by Malaysian Institute of Accountants on 20 December 2010.
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
1
Lot 557 & 559
Plaza Melaka
Jalan Hang Tuah
75300 Melaka
Dua unit Rumah kedai/
Pejabat 4 1/2 tingkat
Two units of 4 1/2 storey
Shophouse/Office
Pegangan Bebas
27
Freehold
3,485/
14,434
1,490,000
31.12.2010
2 No. 325A & 325B
Blok 41, Kompleks
Perniagaan Fajar
91000 Tawau
Sabah
Tiga unit Kompleks
Perniagaan/
Pejabat 4 tingkat
Three units of 4 storey
Commercial Complex/
Office
Pajakan bandar 999
19
tahun berakhir
pada 31.12.2895
999 years town
lease expiring
on 31.12.2895
4,025/
6,037
2,235,000
31.12.2010
3
No. 64 & 65
Kompleks Jitra
Jalan Sungai Korok
06000 Jitra
Kedah Darul Aman
Pejabat 2 tingkat
Two units of 2 storey
Shophouse/Office
Pegangan Bebas
24
Freehold
3,095/
6,935
690,000
31.12.2010
4
No. 23
Satu unit Rumah kedai/
Medan Istana 3
Pejabat 3 tingkat
Bandar Ipoh Raya
One unit of 3 storey
30450 Ipoh
Shophouse/Office
Perak Darul Ridzuan
Pajakan 99 tahun
15
berakhir pada
30.03.2081
99 years lease expiring
on 30.03.2081
1,539/
4,255
480,000
31.12.2010
5
No. 84
Batu 3 1/4
Jalan Gombak
53000 Kuala Lumpur
Pejabat 5 tingkat
Shophouse/Office
Pegangan Bebas
24
Freehold
1,883/
8,700
890,000
31.12.2010
6
Lot 6966, Blok 59
Muara Tuang
Pejabat 3 tingkat
Jalan Datok Mohd Musa
94300 Kota Samarahan
Shophouse/Office
Sarawak
Pajakan 60 tahun
15
berakhir pada
31.12.2053
on 31.12.2053
1,312/
3,750
575,000
31.12.2010
7
Lot 54 & 55
Bandar Wilayah Jasa
Pejabat 3 tingkat
Jalan Bunga Raya
91100 Lahad Datu
Shophouse/Office
Sabah
Pajakan bandar
15
99 tahun berakhir
pada 31.12.2090
99 years town lease
expiring on 31.12.2090
2,400/
7,200
1,277,277
31.12.2010
183
184
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
8
No. 24
Jalan USJ 10/1B
47620 UEP Subang Jaya
Pejabat 3 tingkat
Shophouse/Office
Pegangan Bebas
16
Freehold
3,200/
9,600
3,439,617
31.12.2010
9
No. 15 & 17
Jalan Kelibang
Langkawi Mall
07000 Kuah, Langkawi
Kedah Darul Aman
Pejabat 2 tingkat
Shophouse/Office
Pegangan Bebas
17
Freehold
1,440/
7,720
550,000
31.12.2010
10
No. 26 & 28
Jalan Perda Barat
Bukit Mertajam
Seberang Prai
14000 Penang
Pejabat 3 tingkat
Shophouse/Office
Pegangan bebas
12
Freehold
3,293/
8,840
1,000,000
31.12.2010
11
No. 433, 434 & 435
Jalan Kulas
93400 Kuching
Sarawak
Tiga unit Rumah kedai/
Pejabat 4 tingkat
Shophouse/Office
Pegangan Bebas
15
Freehold
4,817/
18,892
4,324,436
31.12.2010
12
No. 312
Jalan Bandar 13
Taman Melawati
53100 Kuala Lumpur
Pejabat 4 tingkat
Shophouse/Office
Pegangan Bebas
16
Freehold
1,920/
7,070
1,280,000
31.12.2010
13
No. 20, Fasa 1A
Jalan Haji Manan
86000 Kluang
Johor Darul Ta’zim
Pejabat 4 tingkat
Shophouse/Office
Pajakan 99 tahun
14
99 years lease
2,658/
9,930
1,750,000
31.12.2010
Satu unit bangunan
Pejabat 6 tingkat (9 level)
Office building (9 level)
Pegangan Bebas
33
Freehold
3,972/
19,630
4,000,000
25.06.2010
14 No. 64 - D
Leboh Bishop
10200 Pulau Pinang
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
15
Lot 13 & 14
Dua unit bangunan
Lazenda Commercial
Pejabat 3 tingkat
Centre
Jalan Okk Abdullah
Office building
87007 Wilayah
Persekutuan Labuan
Pajakan 999 tahun
16
berakhir pada
30.06.2902
999 years lease
expiring on
30.06.2902
2,504/
7,200
1,658,318
31.12.2010
16 Lot 6967, Blok 59
Muara Tuang
Pejabat 3 tingkat
Jalan Datok Mohd Musa
94300 Kota Samarahan
Shophouse/Office
Sarawak
Pajakan 60 tahun
15
berakhir pada
31.12.2053
60 years lease
expiring on
31.12.2053
1,312/
3,750
575,000
31.12.2010
17 Lot 28, 30 & 32
Jalan 2/3A, Pasar Borong
Pejabat 4 tingkat
68100 Selayang
Shophouse/Office
Pajakan 99 tahun
23
berakhir pada
11.03.2086
99 years lease
expiring on
11.03.2086
4,447/
16,800
2,250,000
31.12.2010
18 Lot 12680
Dua tingkat bangunan
Level 1 & Mezzanine
Pejabat 13 tingkat
Jalan Bukit Timbalan
Two floors of 13 storey
80000 Johor Bharu
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
12
8,354*
2,540,000
31.12.2010
19 Lot 12680
Satu tingkat bangunan
Level 3
Pejabat 13 tingkat
Jalan Bukit Timbalan
One floor of 13 storey
80000 Johor Bharu
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
12
6,594*
1,480,000
31.12.2010
20
Pajakan 99 tahun
11
berakhir pada
24.02.2097
99 years lease
expiring on
24.02.2097
3,300/
10,560
800,000
31.12.2010
Lot 14(S1) & 15(S1)
Indah Point, Section 12
Pejabat 4 tingkat (kosong)
Pulau Indah Industrial Park Two units of 4 storey
42000 Klang
Shophouse/Office
West Port
(vacant)
185
186
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
21 No. 1 & 2
Jalan Kelicap
Pejabat 2 tingkat
Taman Pekan Baru
34200 Parit Buntar
Shophouse/Office
Perak Darul Ridzuan
Pajakan 99 tahun
23
berakhir pada
05.09.2078
99 years lease
expiring on
05.09.2078
3,956/
7,044
700,000
31.12.2010
22
No. 46 & 47,
Darul Takaful
Jalan Rahmat
83000 Batu Pahat
Pejabat 4 tingkat
Two units of 4 Storey
Shophouse/Office
Pegangan Bebas
21
Freehold
3,220/
12,092
1,460,000
31.12.2010
23
No. 180 & 181
Jalan Tuan Hitam
22000 Jerteh
Terengganu Darul Iman
Pejabat 4 tingkat
Shophouse/Office
Pegangan Bebas
20
Freehold
3,200/
12,250
1,500,000
31.12.2010
24
Lot 82, 84 & 86 Tiga unit Rumah kedai/
Jalan Rugbi 13/30
Pejabat 2 tingkat
Seksyen 13
40100 Shah Alam
Shophouse/ Office
Pajakan 99 tahun
11
berakhir pada
22.01.2102
99 years lease
6,339/
11,309
2,300,000
31.12.2010
25
No. 229, Jalan Shahab 2
Shahab Perdana
Jalan Sultanah Sambungan
05350 Alor Star
Kedah Darul Aman
One unit of 2 1/2 storey
Shophouse/Office
Pegangan Bebas
14
Freehold
1,400/
3,570
400,000
31.12.2010
26
Lot No. 3803
Jalan Dato’ Ulu Muar
Pejabat 3 tingkat
72000 Kuala Pilah
Negeri Sembilan
Shophouse/Office
Darul Khusus
Pajakan 99 tahun
11
berakhir pada
06.10.2079
99 years lease
2,001/
3,120
400,000
31.12.2010
27 No. 45
Jalan Teluk Sisek
Pejabat 4 tingkat
25000 Kuantan
Pahang Darul Makmur
Shophouse/Office
Pajakan 99 tahun
10
berakhir pada
18.09.2068
99 years lease
3,200/
8,019
2,000,000
31.12.2010
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
28 No. 27, 29 & 31
Pusat Komersil Temerloh
28000 Temerloh
Three units of 2 1/2 storey
Pahang Darul Makmur
Shophouse/Office
Pajakan 99 tahun
10
berakhir pada
01.04.2095
99 years lease
expiring on
01.04.2095
4,195/
15,050
1,590,000
31.12.2010
29 No. 2 & 4
Jalan 6C/7
Pejabat 2 tingkat
43650 Bandar Baru Bangi
Shophouse/Office
Pajakan 99 tahun
23
berakhir pada
08.07.2086
99 years lease
expiring on
08.07.2086
6,383/
8,032
1,500,000
31.12.2010
30
Lot 14 Satu unit Rumah kedai/
Arab Malaysian
Pejabat 6 tingkat Business Centre
Jalan Pasar
Shophouse/ Office
70000 Seremban Negeri Sembilan Darul Khusus
Pajakan 99 tahun 14
berakhir pada 07.04.2082
99 years lease
expiring on
07.04.2082
1,500/
14,589
3,375,000
31.12.2010
31
Tingkat Bawah & Mezzanine
Wisma Abrar International
Lot 54, Seksyen 8
15350 Kota Bharu
Kelantan Darul Naim
Pegangan Bebas
Freehold
13
7,925*
3,700,000
31.12.2010
32 No. 29, Jalan Delima
Pusat Perdagangan Pontian Pejabat 3 tingkat
82000 Pontian
Shophouse/Office
Pajakan 99 tahun
9
berakhir pada
25.09.2097
99 years lease
expiring on
26.09.2097
3,899/
10,248
1,350,000
31.12.2010
33 Lot 11 & 12
Kompleks Seri Temin
Pejabat 4 tingkat
Jalan Ibrahim
08000 Sungai Petani
Shophouse/Office
Kedah Darul Aman
Pajakan 99 tahun
25
berakhir pada
03.10.2080
99 years lease
expiring on
03.10.2080
2,800/
11,020
1,335,000
31.12.2010
Dua tingkat bangunan
Two floors of 8 1/2 storey
Office building
187
188
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
34
Lot 1129 & 1130
Satu unit bangunan
Bangunan Darul Takaful
Pejabat 12 tingkat
Jalan Sultan Ismail
20100 Kuala
Office building
Terengganu
Pajakan kecil
8
35 tahun
berakhir pada
27.02.2037
35 years sub lease
3,600/
23,637
6,600,000
31.12.2010
35 No. 616 & 617
Dua unit bangunan
Jalan Besar
Pejabat 2 tingkat
73000 Tampin
Negeri Sembilan
Office building
Darul Khusus
Pajakan 99 tahun
18
berakhir pada
05.10.2088
99 year lease
expiring on
05.10.2088
4,498/
8,685
950,000
31.12.2010
36 No. 6, Jalan 6C/7
43650 Bandar Baru Bangi
Pejabat 2 tingkat
Shophouse/Office
Pajakan 99 tahun
23
berakhir pada
08.07.2086
99 year lease
expiring on
08.07.2086
1,905/
3,508
650,000
31.12.2010
37
Pegangan bebas
Freehold
9
6,409*
7,050,000
31.12.2010
38 No. 26 & 27
Dua unit bangunan
Jalan Tanjung Pasar Baru
Pejabat 2 tingkat
18500 Machang
Kelantan Darul Naim
Office building
Pajakan 66 tahun
29
berakhir pada
18.02.2069
66 years lease
expiring on
18.02.2069
1,600/
4,000
560,000
31.12.2010
39 No. 330 & 331
Dua unit bangunan
Jalan Sultan Yahya Petra
15720 Kota Bharu
Two units of 4 1/2 storey
Kelantan Darul Naim
Office building
Pajakan 99 tahun
28
berakhir pada
09.12.2069
99 years lease
expiring on
09.12.2069
3,200/
15,200
1,700,000
31.12.2010
Suite 3B/G
Blok 3B, Plaza Sentral
Jalan Stesen Sentral 5
50470 Kuala Lumpur
Satu tingkat bangunan
Pejabat 22 tingkat
One floor of 22 storey
Office building
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
90,427/
393,508
158,000,291
31.12.2010
40 Dataran Kewangan
Darul Takaful
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Dua unit bangunan
Pegangan Bebas Blok Utama/
Pejabat
Freehold
Main Block
Blok Utama - 26 tingkat
- 37
Blok Annex - 29 tingkat
Blok Annex/
Two units of
Annexe Block
Office building
- 30
Main Block - 26 storey
Annexe Block - 29 storey
41 No. 2408
Taman Samudera
Pejabat 2 tingkat
32040 Sri Manjung
Perak Darul Ridzuan
Shophouse/Office
Pajakan 99 tahun
14
berakhir pada
19.05.2091
99 years lease
expiring on
19.05.2091
2,800/
5,300
780,000
31.12.2010
42
Dua unit bangunan
Pejabat 3 tingkat
Office building
Pegangan Bebas
7
Freehold
3,134/
18,304
1,529,990
31.12.2010
43 No. 10 & 11
Dua unit bangunan
Jalan Sultan Yahya Petra
Pejabat 3 tingkat
15200 Kota Bharu
Kelantan Darul Naim
Office building
Pajakan 33 tahun
8
berakhir pada
08.09.2037
33 years lease
expiring on
08.09.2037
3,852/
9,120
1,800,000
31.12.2010
44
No. 4197
Jalan Teluk Wanjah
05200 Alor Star
Kedah Darul Aman
Satu unit bangunan
Pejabat 4 tingkat
Office building
Pegangan Bebas
8
Freehold
8,716/
18,440
3,600,000
31.12.2010
45
No. 10 & 8
Dua unit bangunan
Jalan Padi Emas 5/2
Pejabat 3 tingkat
Bandar Baru UDA
81200 Johor Bharu
Office building
Pajakan 99 tahun
5
berakhir pada
16.02.2099
99 years lease
3,080/
8,024
1,360,000
31.12.2010
No. 76A & 76
Pusat Perniagaan
Jalan Tupai
34000 Taiping
Perak Darul Ridzuan
189
190
Maklumat Hartanah
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih Penilaian
Semula/
Description of
Age of
Kawasan Bina/
pada/
Existing Use
Building
Land,
Net Book
Date of
(tahun/years)
Built-up Area
Value as at
Revaluation
(kaki persegi/
31.12.2010
square feet)
(RM)
46
No. 4,
Satu unit bangunan
Kompleks Seri Temin
Pejabat 4 tingkat
Jalan Ibrahim
08000 Sungai Petani
Office building
Kedah Darul Aman
Pajakan 99 tahun
25
berakhir pada
03.10.2080
99 years lease
1,400/
5,510
665,000
31.12.2010
47
No. 16, Jalan Cenderawasih
Jalan Kilang Lama
09000 Kulim
Kedah Darul Aman
Satu unit bangunan
Pejabat 3 tingkat
Office building
Pegangan Bebas
11
Freehold
1,600/
4,172
400,000
31.12.2010
48
Lot 1340, Miri Waterfront
Commercial Centre
98000 Miri
Sarawak
Satu unit bangunan
Pejabat 4 tingkat
One unit of 4
storey Office building
Pajakan 60 tahun
6
berakhir 30.09.2052
60 years expiring
on 30.09.2052
1,400/
5,500
1,100,000
31.12.2010
49 No. 6, Jalan Padi Emas
Satu unit bangunan
5/2, Bandar Baru UDA
Pejabat 3 tingkat
81200 Johor Bharu
Office building
Pajakan 99 tahun
5
berakhir pada
16.02.2099
on 16.02.2099
1,540/
4,012
680,000
31.12.2010
50 No. 148, Kompleks
Satu unit bangunan
Munshi Abdullah
Pejabat 4 ½ tingkat
75200 Melaka
One unit of 4 ½ storey
Office building
Pajakan 99 tahun
17
berakhir pada
23.04.2102
on 23.04.2102
1,470/
6,117
750,000
31.12.2010
51
No. 16474 & 16475
Dua unit bangunan
Pusat Perniagaan
Pejabat 3 tingkat
Inderapura
Jalan Tras Raub
Office building
Pahang Darul Makmur Pajakan 99 tahun
11
berakhir pada
29.06.2092
on 29.06.2092
3,218/
9,280
1,300,000
31.12.2010
Jumlah/Total
* Kawasan Bina/Build up Area
244,369.929
Modal Saham/Share Capital
Modal Dibenarkan
: 500,000,000 saham biasa bernilai RM1.00 sesaham
Authorised capital 500,000,000 ordinary shares of RM1.00 each
Modal yang diterbitkan dan dibayar sepenuhnya pada 4 Mac 2011 : 162,817,000 saham biasa bernilai RM1.00 sesaham
Issued and fully paid-up capital as at 4 March 2011 162,817,000 ordinary shares of RM1.00 each
Jumlah pemegang saham pada 4 Mac 2011
No. of shareholders as at 4 March 2011
: 2,166
Kelas saham
: Saham biasa bernilai RM1.00 sesaham
Class of shares Ordinary shares of RM1.00 each
Hak mengundi
: 1 undi bagi setiap saham biasa
Voting right 1 vote per ordinary share
Pemegang-Pemegang Saham Utama (5% Dan Lebih)
Substantial Shareholders’ Shareholdings (5% And Above)
Nama Pemegang Saham
Name of Shareholders
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
BIMB Holdings Berhad
106,183,675
65.22
Jumlah/Total
106,183,675
65.22
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
-
-
-
-
Puan Rozaida Omar
-
-
-
-
-
-
-
-
-
-
Pegangan Saham Para Pengarah Pada 4 Mac 2011
Directors’ Shareholdings as at 4 March 2011
Nama Pengarah
Name of Directors
191
192
Analisa Pegangan Saham Mengikut Saiz Pada 4 Mac 2011
Analysis By Size Of Shareholdings as at 4 March 2011
Saiz Pegangan Saham
Size of Shareholdings
Bilangan
Peratus (%)
Pemegang Saham Percentage (%)
Number of
Shareholders
Jumlah
Pegangan Saham
Number of
Shareholdings
Peratus (%)
Percentage (%)
Kurang dari 100
Less than 100
150
6.93
2,720
0.00
100 - 1,000
328
15.14
211,581
0.13
1,328
61.31
4,978,199
3.06
10,001 - 100,000
304
14.04
9,385,100
5.76
100,001 sehingga kurang daripada
5% saham diterbitkan
100,001 to less than 5% of issued shares
55
2.53
42,055,725
25.83
5% dan lebih saham diterbitkan
5% and above of issued shares
1
0.05
106,183,675
65.22
2,166
100.00
162,817,000
100.00
1,001 - 10,000
Jumlah/Total
Tiga Puluh (30) Pemegang Saham Terbesar Pada 4 Mac 2011
Thirty (30) Largest Shareholders as at 4 March 2011
Nama Pemegang Saham
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
106,183,675
65.22
Bimsec Nominees (Asing) Sdn Bhd
(Islamic Development Bank)
7,000,000
4.30
Affin Nominees (Tempatan) Sdn Bhd
(Affin Fund Management Sdn Bhd for Majlis
Ugama Islam Dan Adat Resam Melayu Pahang)
4,602,000
2.83
RHB Nominees (Asing) Sdn Bhd
(RUSD Investment Bank Inc.)
4,061,500
2.49
Lembaga Kemajuan Tanah Persekutuan (FELDA)
2,961,400
1.82
BIMB Holdings Berhad
Nama Pemegang Saham
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
Majlis Agama Islam Negeri Sembilan
2,070,900
1.27
Cimsec Nominees (Tempatan) Sdn Bhd
(Exempt An for Kenanga Investors Berhad (KUTN(T) S/B))
1,623,100
1.00
Kenanga Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Majlis Agama Islam
Dan Adat Melayu Terengganu (STC))
1,554,600
0.95
Sai Yee @ Sia Say Yee
1,149,000
0.71
Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident Fund Board
1,144,220
0.70
Saleem Abdullatif Mustafa 1,000,000
0.61
Majlis Agama Islam Melaka 998,250
0.61
Cheah See Han 962,200
0.59
Bank Kerjasama Rakyat Malaysia Berhad 687,000
0.42
Mayban Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Liew Kon Sing @ Liew Kong)
676,900
0.42
Mah Yu Lan 600,000
0.37
Lim Khuan Eng 572,100
0.35
Public Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Lee Kin Kheong (E-IMO))
547,000
0.34
Universiti Sains Malaysia 500,000
0.31
Citigroup Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Cheah See Han (471145))
500,000
0.31
Meng Hin Holdings Sdn Bhd 475,300
0.29
Philip A/L K.O Kunjappy 467,000
0.29
193
194
Nama Pemegang Saham
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
Chua Seng Sam 457,555
0.28
TA Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Vanitha A/P Kaneson)
451,900
0.28
Majlis Agama Islam Dan Adat Melayu Perak Darul Ridzuan 400,000
0.25
Amin Baitulmal Johor 400,000
0.25
Quah Lake Jen
378,500
0.23
T.O. Lim Holdings Sdn Bhd 350,000
0.21
Miss Wipaporn Limprana 350,000
0.21
TA Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Sellammah A/P Palanisamy)
343,000
0.21
143,467,100
88.12
Jumlah/Total
Rangkaian Cawangan
Branch Network
HEAD OFFICE
SYARIKAT TAKAFUL MALAYSIA BERHAD (131646-K)
26th Floor, Annexe Block
50000 Kuala Lumpur
P.O. Box 11483, 50746 Kuala Lumpur
Tel
: 03-2268 1984
Faks
: 03-2274 0237
Toll Free : 1-300-8-8252385
Web
: http://www.takaful-malaysia.com.my
TAKAFUL myCARE CENTRES*
DATARAN KEWANGAN DARUL TAKAFUL
Tingkat Bawah, Blok Utama
50000 Kuala Lumpur
SHAH ALAM
Tingkat Bawah, Darul Takaful
Lot. No 82, 84, 86
Jalan Rugbi 13/30, Seksyen 13
40100 Shah Alam
PETALING JAYA
No. 10-2 & 12-2, Tingkat 1
Jalan 14/22, The Right Angle
46100 Petaling Jaya
KUANTAN
No. 45, Tingkat Bawah, Darul Takaful
Jalan Teluk Sisek
25000 Kuantan
Pahang Darul Makmur
BANDAR PERDA
No. 28 Jalan Perda Barat 1
Bandar Baru Perda
14000 Bukit Mertajam
Pulau Pinang
SEREMBAN
Darul Takaful, Suite 14-2
Arab Malaysia Business Centre
Jalan Tuanku Munawir
70000 Seremban
Negeri Sembilan Darul Khusus
TAKAFUL RETAIL CENTRE*
KL SENTRAL
Lot CS/3B/G, Tingkat Bawah
Plaza Sentral, Jalan Stesen Sentral 5
50470 Kuala Lumpur
TAKAFUL myDESKS*
TABUNG HAJI CAWANGAN BAGAN SERAI
Bangunan Tabung Haji
No. 110, Jalan Besar
34300 Bagan Serai, Perak
Tel
: 05-721 0320
: 012-505 2009
Fax
: 05-721 0323
TABUNG HAJI CAWANGAN KOTA TINGGI
No. 24, Jalan Niaga 1
81900 Kota Tinggi, Johor
Tel
: 07-883 2880
: 012-774 7553
Fax
: 05-882 2790
TABUNG HAJI CAWANGAN JALAN TUN RAZAK
2nd Floor, Menara Lembaga Tabung Haji
201, Jalan Tun Razak
50732 Kuala Lumpur
Tel
: 012-285 2523
: 012-646 3586
Fax
: 03-2164 7446
TABUNG HAJI CAWANGAN BUTTERWORTH
Bangunan TH, No. 2828-G-1
Jalan Bagan Luar
12000 Butterworth, Penang
Tel
: 04-323 2892
TABUNG HAJI CAWANGAN TANAH MERAH
Tingkat 1, Bangunan TH
Lot 211, Jalan Hospital
17500 Tanah Merah, Kelantan
Tel
: 09-955 7411
Fax
: 09-955 7413
TABUNG HAJI CAWANGAN KUALA PILAH
Lot No 234
Jalan Dato’ Undang Johol
72000 Kuala Pilah
Negeri Sembilan
Tel
: 06-4810971
Fax
: 06-4810972
195
196
Rangkaian Cawangan
Branch Network
BRANCHES*
WILAYAH PERSEKUTUAN
PUTRAJAYA
Tingkat 1, Blok E 16
Parcel E, Precint 1 Anjung
62000 Putrajaya, Wilayah Persekutuan
Tel
: 03-8889 5261
Fax
: 03-8889 5262
KEDAH DARUL AMAN
ALOR STAR
Darul Takaful, No. 229, Jalan Shahab 2
Shahab Perdana
Jalan Sultanah Sambungan
05150 Alor Setar, Kedah Darul Aman
Tel : 04-733 4722
: 04-730 7472
: 04-731 9933
Fax : 04-730 2414
SELANGOR DARUL EHSAN
KAJANG
No. 5A, Plaza Kajang
Jalan Dato’ P.Algendra 1
43000 Kajang, Selangor Darul Ehsan
Tel
: 03-8734 6479
: 03-8737 6591
Fax
: 03-8734 6480
JOHOR DARUL TAKZIM
JOHOR BAHRU
No. 8, Aras 3
Menara Presind, Jalan Bukit Timbalan
80000 Johor Bahru, Johor Darul Takzim
Tel
: 07-224 0369
: 07-224 5426
: 07-226 4645
Fax
: 07-224 2089
MUAR
No. 5-4, Tingkat Bawah, Jalan Ibrahim
84000 Muar, Johor Darul Takzim
Tel : 06-952 8808
: 06-952 2102
: 06-955 6206
Fax : 06-953 1609
BATU PAHAT
Tingkat 2, No. 46 & 47
Darul Takaful, Jalan Rahmat
83000 Batu Pahat, Johor Darul Takzim
Tel : 07-434 8560
: 07-432 5673
Fax : 07-433 2729
KLUANG
20, Tingkat 2, Darul Takaful
Jalan Haji Manan
86000 Kluang
Johor Darul Takzim
Tel : 07-774 1053
: 07-772 1757
Fax : 07-776 8285
SUNGAI PETANI
Darul Takaful
No. 4, Kompleks Seri Temin, Jalan Ibrahim
08000 Sungai Petani, Kedah Darul Aman
Tel
: 04-421 4510
: 04-425 6588
Fax : 04-425 7588
KULIM
Darul Takaful
No. 16, Taman Cenderawasih
Jalan Tuanku Putra
09000 Kulim, Kedah Darul Aman
Tel : 04-490 6306
: 04-495 0615
Fax : 04-491 1241
LANGKAWI
No. 15, Tingkat 1, Darul Takaful
Jalan Kelibang, Langkawi Mall
07000 Kuah, Kedah Darul Aman
Tel : 04-966 6242
: 04-966 0052
Fax : 04-966 6394
KELANTAN DARUL NAIM
KOTA BHARU
Lot. 331 & 332
Tingkat Bawah, Darul Takaful
Jalan Sultan Yahya Petra, Wakaf Siku
15200 Kota Bharu, Kelantan Darul Naim
Tel : 09-744 7277
: 09-744 1408
: 09-747 8700
: 09-743 9362
Fax : 09-748 6864
Rangkaian Cawangan
Branch Network
MACHANG
Lot. 27, Tingkat 1
Jalan Tanjung
18500 Machang, Kelantan Darul Naim
Tel : 09-975 1789
: 09-975 8553
Fax : 09-975 7626
MELAKA
TAIPING
No. 76, Tingkat 1 & 2
Darul Takaful, Pusat Perniagaan Taiping
Jalan Tupai, 34000 Taiping
Perak Darul Ridzuan
Tel : 05-807 9876
: 05-807 6588
: 05-804 1782
Fax : 05-808 7588
MELAKA
148 Kompleks Munshi Abdullah
Jalan Munshi Abdullah
75100, Melaka
Tel
: 06-288 3054
: 06-281 4985
: 06-284 9633
Fax
: 06-288 1341
TELOK INTAN
Lot. 51-1, Jalan Intan 2, Bandar Baru
36000 Telok Intan, Perak Darul Ridzuan
Tel : 05-622 7790
: 05-622 6202
Fax : 05-622 9311
MASJID TANAH
SU 953, Jalan Bandar Baru 6
Taman Bandar Baru
78300 Masjid Tanah, Melaka
Tel : 06-384 7233
Fax : 06-384 8533
KEPALA BATAS
No. 2148,Tingkat Bawah & 1, Jalan Bertam
13200 Kepala Batas, Seberang Perai Utara
Pulau Pinang
Tel
: 04-574 1594
: 04-575 9278
Fax : 04-574 1596
PAHANG DARUL MAKMUR
TEMERLOH
No. 27, Jalan Dato’ Bahaman 3
Darul Takaful, Pusat Dagangan Temerloh
28000 Temerloh, Pahang Darul Makmur
Tel : 09-296 5560
: 09-296 2595
Fax : 09-296 5417
PERAK DARUL RIDZUAN
IPOH
No. 23A, Medan Istana 3
Bandar Ipoh Raya
30000 Ipoh, Perak Darul Ridzuan
Tel : 05-255 3888
: 05-242 1824
: 04-243 5201
Fax : 05-255 1462
BANDAR BARU SRI MANJUNG
No. 2406, Taman Samudera
32040 Sri Manjung, Perak Darul Ridzuan
Tel : 05-688 1186
: 05-688 6211
Fax : 05-688 7211
PULAU PINANG
GELUGOR
No. 2480, Tingkat Bawah
Jalan Sultan Azlan Shah
11700 Gelugor, Pulau Pinang
Tel : 04-658 8240
Fax : 04-658 8243
TERENGGANU DARUL IMAN
KUALA TERENGGANU
Lot 1129 & 1130, Tingkat 2 & 3
Darul Takaful, Jalan Sultan Ismail
Off Jalan Banggol
20100 Kuala Terengganu
Tel : 09-623 3211
: 09-624 9486
: 09-622 3211
Fax : 09-623 9098
KEMAMAN
Lot. 2.07 & 2.08, Tingkat 2
Wisma Serangkai, Jalan Sulaimani, Chukai
24000 Kemaman, Terengganu Darul Iman
Tel : 09-859 4796
: 09-858 6878
Fax : 09-858 3455
197
198
Rangkaian Cawangan
Branch Network
SABAH
KOTA KINABALU
Lot A 202 & 203, Tingkat 2, Blok A
Wisma Muis, Jalan Tengku Abdul Rahman
Peti Surat 16402,
88850 Kota Kinabalu, Sabah
Tel : 088-240 212
: 088-240 312
Fax : 088-240 313
TAWAU
Lot 268, Blok 28, Tingkat 2
Jalan Mahkamah, Fajar Kompleks
91000 Tawau, Sabah
Tel : 089-776 510
: 088-770 960
Fax : 089-756 697
SARAWAK
KUCHING
Lot. 435, Tingkat 1 & 2
Darul Takaful, Bangunan Tuanku Haji
Mohammad Al-Edrus, Jalan Kulas
93400 Kuching, Sarawak
Tel : 082-242 725
: 082-235 121
: 082-247 904
: 082-252 045
Fax
: 082-234 191
MIRI
Darul Takaful, Lot. 1340,Tingkat Bawah & 1
Miri Waterfront Commercial Centre
Jalan Waterfront, 98000 Miri, Sarawak
Tel : 085-425 961
: 085-420 651
Fax : 085-411 724
SIBU
No. 10H, Lot. 1735
Tingkat 1, Bangunan Koperasi Seduan
Jalan Kampong Datuk
96000 Sibu, Sarawak
Tel
: 084-348 346
Fax
: 084-325 276
*
For further details, please contact our:
Toll-free number 1300-8-TAKAFUL (825 2385)
or Email at csu@takaful-malaysia.com.my
SYARIKAT-SYARIKAT SUBSIDIARI
ASEAN RETAKAFUL INTERNATIONAL (L) LTD. (LL01129)
Level 14, Blok 4
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : 087-451 301
: 087-451 302
: 087-451 303
Fax : 087-451 300
PT SYARIKAT TAKAFUL INDONESIA
Graha A, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel
: 6221-799 1234
: 6221-799 2345
Fax : 6221-7919 8877
PT ASURANSI TAKAFUL KELUARGA
Graha B, Graha Takaful Indonesia
No. 100, Jakarta
12790 Indonesia
Tel : 6221-799 1234
: 6221-799 2345
Fax : 6221-790 1435
PT ASURANSI TAKAFUL UMUM
Graha A, Graha Takaful Indonesia
No. 100, Jakarta
12790 Indonesia
Tel : 6221-799 1234
: 6221-799 2345
Fax : 6221-790 1944
Borang Proksi/Proxy Form
25th Annual General Meeting
Saya / Kami / I / We ..................................................................................................................................................................................................................................................
sebagai Ahli / Ahli - Ahli Syarikat yang dinyatakan di atas dengan ini melantik
being a Member / Members of the abovenamed Company, hereby appoint
………………………………………..……………………………………………………………….…………...................................................................…..............……................
dari / of …..................…..........…………………………….………………………………………………………..………………………………......................................................
atau / Pengerusi Mesyuarat jika beliau tidak dapat hadir / or the Chairman of the Meeting failing him .……………….........................……...................………………
dari / of …..................…..........…………………………….………………………………………………………..………………………………......................................................
sebagai proksi saya / kami untuk mengundi bagi pihak saya / kami di MESYUARAT AGUNG TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD yang
KEDUA PULUH LIMA yang akan diadakan pada hari Khamis, 5 Mei 2011 jam 9:30 pagi dan pada sebarang penangguhannya.
as my / our proxy to vote for me / us on my / our behalf at the TWENTY FIFTH ANNUAL GENERAL MEETING OF SYARIKAT TAKAFUL MALAYSIA BERHAD, to be held
on Thursday, 5 May 2011 at 9:30 a.m. and at any adjournment thereof.
Sila tandakan “X” di dalam ruang yang disediakan di bawah bagaimana anda ingin mengundi untuk resolusi-resolusi berikut. Sekiranya tiada arahanarahan tertentu, proksi anda akan mengundi atau tidak mengundi sepertimana yang dia anggap patut. Jika anda melantik dua proksi, sila nyatakan
bahagian pegangan untuk diwakilkan kepada setiap proksi.
Please indicate an “X” in the space provided below, how you wish your vote to be cast in respect of the following resolutions. In the absence of specific
directions, your proxy may vote or abstain at his/her discretion. If you appoint two proxies, please specify the proportions of holdings to be represented by
each proxy.
Wakil saya / kami akan mengundi seperti berikut / My / Our proxy is to vote as indicated hereunder:
NO. RESOLUSI / RESOLUTION
1
2
MENYOKONG/
FOR
MENENTANG/
AGAINST
Menerima Penyata-Penyata Kewangan yang telah diaudit bagi lapan belas (18) bulan tempoh
kewangan berakhir 31 Disember 2010, beserta laporan Pengarah dan Juruaudit berkaitan
dengannya.
To receive the Audited Financial Statements for eighteen (18) months financial period ended 31 December 2010,
together with the reports of the Directors and Auditors thereon.
Untuk meluluskan dividen akhir sebanyak 7% ditolak 25% cukai bagi lapan belas (18) bulan tempoh
kewangan berakhir 31 Disember 2010.
To approve a final dividend of 7% less 25% tax in respect of the eighteen (18) months financial period ended
31 December 2010.
Melantik semula Pengarah-pengarah berikut yang bersara menurut Tataurusan Persatuan Syarikat:To re-elect the following Directors, each of whom retires pursuant to the Company’s Articles of Association:
3
Artikel 62/Article 62
4
Artikel 66A/Article 66A
5 Y. Bhg. Dato’ Paduka Ismee Ismail
6
7
Untuk meluluskan bayaran yuran Pengarah-pengarah sebanyak RM721,000 bagi lapan belas (18)
bulan tempoh kewangan berakhir 31 Disember 2010.
To approve the payment of the Directors’ fees of RM721,000 for eighteen (18) months financial period ended
31 December 2010.
8
9
Untuk meluluskan bayaran yuran Ahli-Ahli Badan Penasihat Syariah sebanyak RM153,000 bagi lapan
belas (18) bulan tempoh kewangan berakhir 31 Disember 2010.
To approve the payment of Shariah Advisory Body Members’ fees of RM153,000 for eighteen (18) months}
Untuk melantik semula Tetuan KPMG Desa Megat & Co. sebagai Juruaudit Syarikat dan memberi
kuasa kepada Pengarah-Pengarah untuk menetapkan bayaran Juruaudit.
To re-appoint Messrs KPMG Desa Megat & Co. as the Auditors of the Company and to authorise the Directors
to fix their remuneration.
JUMLAH SAHAM
NO. OF SHARES
Pada / Dated this …..… haribulan / day of …... 2011
Tandatangan/ Cop Mohor Pemegang Saham
Signature/ Common Seal of Shareholders
Nota-Nota:
(i) Seorang ahli Syarikat yang berhak hadir dan mengundi dalam mesyuarat, berhak melantik seorang atau beberapa orang proksi untuk hadir dan
mengundi bagi pihaknya dan haruslah menyatakan bahagian pegangan sahamnya yang diwakili oleh setiap proksi dan seorang proksi tidak
semestinya ahli Syarikat.
(ii) Suratcara pelantikan proksi mestilah dibuat secara bertulis dan ditandatangani oleh pihak yang melantik atau wakilnya yang diberi kuasa
secara bertulis atau jika pihak yang melantik itu sebuah perbadanan, ianya hendaklah dibuat samada di bawah meteri atau ditandatangani
oleh pegawai atau wakil yang diberi kuasa.
(iii)Semua borang proksi hendaklah dihantar kepada Pejabat Berdaftar Syarikat, di Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No.4
Jalan Sultan Sulaiman, 50000 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang ditetapkan bagi mengadakan
mesyuarat atau sebarang penangguhannya.
(iv) Kecuali arahan mengundi dinyatakan dalam ruang yang disediakan di atas, seorang proksi boleh mengundi sebagaimana yang ia fikirkan
sesuai.
Notes:
(i) A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote instead of him and shall specify the
proportions of his holdings to be represented by each proxy and a proxy need not be a member of the Company.
(ii) The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney duly authorised in writing or if the appointer is a
corporation, either under seal or under the hand of an officer or attorney duly authorised.
(iii) All proxy forms should be deposited at the Registered Office of the Company at Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No. 4, Jalan
Sultan Sulaiman, 50000 Kuala Lumpur not less than forty-eight (48) hours before the time for holding the meeting or any adjournment thereof.
(iv) Unless voting instructions are indicated in the spaces provided above, the proxy may vote as he/she thinks.
Setiausaha Syarikat / The Company Secretary
SYARIKAT TAKAFUL MALAYSIA BERHAD
50000 Kuala Lumpur
Borang Proksi/Proxy Form
26th Annual General Meeting
Saya / Kami / I / We ..................................................................................................................................................................................................................................................
sebagai Ahli / Ahli - Ahli Syarikat yang dinyatakan di atas dengan ini melantik
being a Member / Members of the abovenamed Company, hereby appoint
………………………………………..……………………………………………………………….…………...................................................................…..............……................
dari / of …..................…..........…………………………….………………………………………………………..………………………………......................................................
atau / Pengerusi Mesyuarat jika beliau tidak dapat hadir / or the Chairman of the Meeting failing him .……………….........................……...................………………
dari / of …..................…..........…………………………….………………………………………………………..………………………………......................................................
sebagai proksi saya / kami untuk mengundi bagi pihak saya / kami di MESYUARAT AGUNG TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD yang
KEDUA PULUH ENAM yang akan diadakan pada hari Khamis, 5 Mei 2011 dengan serta merta selepas berakhirnya atau penangguhan (mengikut yang mana
berkaitan) Mesyuarat Agung Tahunan ke 25 yang akan diadakan pada jam 9:30 pagi pada hari dan pada tempat yang sama.
as my / our proxy to vote for me / us on my / our behalf at the TWENTY SIXTH ANNUAL GENERAL MEETING OF SYARIKAT TAKAFUL MALAYSIA BERHAD, to be
held on Thursday, 5 May 2011 immediately following the conclusion or adjournment (as the case may be) of the 25th Annual General Meeting which will be held at
9:30 a.m. on the same day and at the same venue.
Sila tandakan “X” di dalam ruang yang disediakan di bawah bagaimana anda ingin mengundi untuk resolusi-resolusi berikut. Sekiranya tiada arahanarahan tertentu, proksi anda akan mengundi atau tidak mengundi sepertimana yang dia anggap patut. Jika anda melantik dua proksi, sila nyatakan
bahagian pegangan untuk diwakilkan kepada setiap proksi.
Please indicate an “X” in the space provided below, how you wish your vote to be cast in respect of the following resolutions. In the absence of specific
directions, your proxy may vote or abstain at his/her discretion. If you appoint two proxies, please specify the proportions of holdings to be represented by
each proxy.
Wakil saya / kami akan mengundi seperti berikut / My / Our proxy is to vote as indicated hereunder:
NO. RESOLUSI / RESOLUTION
MENYOKONG/
FOR
MENENTANG/
AGAINST
Untuk melantik semula Pengarah-pengarah berikut yang bersara menurut Artikel 62 Tataurusan
Persatuan Syarikat:
To re-elect the following Directors, each of whom retires pursuant to Article 62 of the Company’s Articles of
Association:
1
2
Y. Bhg. Dato’ Mohamed Hassan Md Kamil
3
Untuk melantik semula Tetuan KPMG Desa Megat & Co. sebagai Juruaudit Syarikat dan memberi
kuasa kepada Pengarah-pengarah untuk menetapkan bayaran Juruaudit.
To re-appoint Messrs KPMG Desa Megat & Co. as the Auditors of the Company and to authorise the
Directors to fix their remuneration.
4
Cadangan Mandat Pemegang Saham bagi Urusniaga Berulang Pihak Berkaitan.
Proposed Shareholders’ Mandate for Recurrent Related Party Transactions.
JUMLAH SAHAM
NO. OF SHARES
Pada / Dated this …..… haribulan / day of …... 2011
Tandatangan/ Cop Mohor Pemegang Saham
Signature/ Common Seal of Shareholders
Nota-Nota:
(i) Seorang ahli Syarikat yang berhak hadir dan mengundi dalam mesyuarat, berhak melantik seorang atau beberapa orang proksi untuk hadir dan
mengundi bagi pihaknya dan haruslah menyatakan bahagian pegangan sahamnya yang diwakili oleh setiap proksi dan seorang proksi tidak
semestinya ahli Syarikat.
(ii) Suratcara pelantikan proksi mestilah dibuat secara bertulis dan ditandatangani oleh pihak yang melantik atau wakilnya yang diberi kuasa
secara bertulis atau jika pihak yang melantik itu sebuah perbadanan, ianya hendaklah dibuat samada di bawah meteri atau ditandatangani
oleh pegawai atau wakil yang diberi kuasa.
(iii)Semua borang proksi hendaklah dihantar kepada Pejabat Berdaftar Syarikat, di Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No.4
Jalan Sultan Sulaiman, 50000 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang ditetapkan bagi mengadakan
mesyuarat atau sebarang penangguhannya.
(iv) Kecuali arahan mengundi dinyatakan dalam ruang yang disediakan di atas, seorang proksi boleh mengundi sebagaimana yang ia fikirkan
sesuai.
Notes:
(i) A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote instead of him and shall specify the
proportions of his holdings to be represented by each proxy and a proxy need not be a member of the Company.
(ii) The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney duly authorised in writing or if the appointer is a
corporation, either under seal or under the hand of an officer or attorney duly authorised.
(iii) All proxy forms should be deposited at the Registered Office of the Company at Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No. 4, Jalan
Sultan Sulaiman, 50000 Kuala Lumpur not less than forty-eight (48) hours before the time for holding the meeting or any adjournment thereof.
(iv) Unless voting instructions are indicated in the spaces provided above, the proxy may vote as he/she thinks.
Setiausaha Syarikat / The Company Secretary
SYARIKAT TAKAFUL MALAYSIA BERHAD
50000 Kuala Lumpur
www.takaful-malaysia.com.my
SYARIKAT TAKAFUL MALAYSIA BERHAD (131646-K)
50000 Kuala Lumpur
Tel : 1300-8-TAKAFUL (8252385)
Faks: 603-2274 0237

Laporan Tahunan 2010 annuaL reporT

Transcription

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