Untitled - Takaful Malaysia

Transcription

Rasional Kulit
Cover Rationale
Perlindungan, Jaminan dan Persediaan menjadi asas perkhidmatan Takaful Malaysia.
Kami menyediakan perlindungan daripada
sebarang keadaan di luar jangkaan. Kami
menawarkan jaminan untuk keadaan yang
tidak boleh diramalkan. Kami mempersiapkan
para pelanggan kami menghadapi keadaan
tidak menentu yang menggugat ketenteraman
hidup mereka.
Kulit laporan tahunan ini menggambarkan
nadi kepada perkhidmatan yang kami
sediakan.
Payung
merupakan
simbol
Perlindungan, Jaminan dan Persediaan. Teduhan
payung menggambarkan perlindungan dan
perkhidmatan yang diberi oleh Takaful
Malaysia kepada para pelanggan. Tetulang
yang mengikat dan mengukuhkan kanopi
payung tersebut melambangkan usaha
berterusan Takaful Malaysia menyediakan
pelbagai produk bagi memastikan manfaat
yang
maksimum.
Kekukuhan
tangkai
payung tersebut mencerminkan kekuatan
fundamental Takaful Malaysia untuk kekal
berdaya tahan mengharungi detik-detik
mencabar. Kestabilan yang disediakannya,
membantu ke arah pertumbuhan. Konsep
ini mencerminkan ketenteraman minda yang
diperjuangkan oleh Takaful Malaysia untuk
para pelanggannya.
Protection, Security and Preparedness - these
are the fundamentals of Takaful Malaysia’s
services. We set the stage for protection from
the unexpected. We provide security for
unforeseen circumstances. We prepare our
customers from uncertainties that hinder their
freedom of life.
This year’s cover reflects the essence of
the services that we provide. The umbrella
is symbolic of Protection, Security and
Preparedness. The span of the umbrella’s
canopy represents the customers that Takaful
Malaysia protects and serves. The ribs that bind
and secure the canopy together symbolises
Takaful Malaysia’s continuing efforts to provide
diversity in product range to ensure maximum
benefits. The firmness of the umbrella’s shaft
represents the strength of Takaful Malaysia’s
fundamentals in remaining resilient through
challenging times. The stability that it offers,
ensures progress. This concept reflects the
peace of mind that Takaful Malaysia upholds
to its customers.
Isi Kandungan
Contents
2
4-7
8
Visi & Misi
Vision & Mission
Notis Mesyuarat Agung Tahunan
Notice of Annual General Meeting
Penyata Mengiringi Notis Mesyuarat
Agung Tahunan Kedua Puluh Tiga
Statement Accompanying Notice of
Twenty Third Annual General Meeting
9
10-11
12-14
Struktur Korporat
Corporate Structure
Ringkasan Kewangan Lima Tahun
Five Years Financial Highlights
Maklumat Korporat
Corporate Information
16-22
24-27
28-29
Profil Lembaga Pengarah
Board of Directors’ Profile
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
Jawatankuasa Pengurusan
Management Committee
30-38
39-47
48-52
Laporan Jawatankuasa Audit
Audit Committee Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Maklumat Pematuhan Tambahan
Additional Compliance Information
53-56
58-71
73-159
Penyata Kawalan Dalaman
Statement on Internal Control
Penyata Pengerusi
Chairman’s Statement
Penyata Kewangan
Financial Statements
160-166
167-170
171-178
Maklumat Hartanah
Particulars of Properties
Statistik Pegangan Saham
Shareholdings Statistics
Rangkaian Cawangan
Branch Network
Borang Proksi
Proxy Form
Syarikat Takaful Malaysia Berhad l Laporan Tahunan 2008 Annual Report
VISI & MISI
VISION & MISSION
Menjadikan kami pilihan utama insurans
Matlamat kami adalah untuk menjangkau harapan pelanggan melalui:
• Operasi Cemerlang
• Kebolehan Dalam Daya Saing Teknologi
• Inovasi Produk
• Budaya Kerja Berorientasikan Prestasi
Ketika menyampaikan kehendak utama pemegang saham
We want to be the preferred choice for insurance
We aim to exceed customer expectations through:
• Operational Excellence
• Technology Driven Capabilities
• Product Innovation
• Performance Oriented Culture
Whilst delivering superior shareholders’ value
Achieving new heights
DENGAN INI DIMAKLUMKAN bahawa MESYUARAT AGUNG
TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD YANG
KEDUA PULUH TIGA 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 Rabu, 10 Disember 2008, jam 9:30 pagi bagi
tujuan-tujuan berikut:
NOTICE IS HEREBY GIVEN that the TWENTY THIRD
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 Wednesday, 10 December 2008, at 9:30 a.m. for the
following purposes:
1. Untuk menerima dan menimbang Penyata-penyata
Kewangan Beraudit bagi tahun kewangan berakhir 30 Jun
2008, berserta laporan Pengarah dan Juruaudit berkaitan
dengannya.
(Resolusi 1)
1. To receive and adopt the Audited Financial Statements for
the financial year ended 30 June 2008, together with the
reports of the Directors and Auditors thereon.
(Resolution 1)
2. Untuk meluluskan dividen akhir sebanyak 3.5% ditolak
26% cukai bagi tahun kewangan berakhir 30 Jun 2008.
(Resolusi 2)
3. Untuk melantik semula Pengarah-pengarah berikut yang
bersara menurut Tataurusan Persatuan Syarikat:
2. To approve a final dividend of 3.5% less 26% tax in respect
of the financial year ended 30 June 2008.
(Resolution 2)
3. To re-elect the following Directors, each of whom retires
pursuant to the Company’s Articles of Association:
Article 62
Artikel 62
3.1 Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
(Resolusi 3)
3.2 Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil
(Resolusi 4)
Artikel 66A
3.3 Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
3.4 Encik Johan b. Abdullah
(Resolusi 5)
(Resolusi 6)
4. Untuk meluluskan bayaran yuran Pengarah-pengarah bagi
tahun kewangan berakhir 30 Jun 2008.
(Resolusi 7)
5. Untuk meluluskan bayaran yuran Ahli-ahli Badan Penasihat
Syariah bagi tahun kewangan berakhir 30 Jun 2008.
(Resolusi 8)
6. Untuk melantik semula Tetuan KPMG Desa Megat & Co.
sebagai Juruaudit Syarikat dan memberi kuasa kepada
Pengarah-pengarah untuk menetapkan bayaran Juruaudit.
(Resolusi 9)
3.1 Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
(Resolution 3)
3.2 Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil
(Resolution 4)
Article 66A
3.3 Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
(Resolution 5)
3.4 Encik Johan b. Abdullah
(Resolution 6)
4. To approve the payment of the Directors’ fees for the
financial year ended 30 June 2008.
(Resolution 7)
5. To approve the payment of Shariah Advisory Body Members’
fees for the financial year ended 30 June 2008.
(Resolution 8)
6. To re-appoint Messrs KPMG Desa Megat & Co. as the
Auditors of the Company and to authorise the Directors to
fix their remuneration.
(Resolution 9)
7. Sebagai Urusan Khas - Resolusi Biasa
“BAHAWA tertakluk kepada Akta Syarikat 1965, Tataurusan
Persatuan Syarikat dan kelulusan dari Bursa Malaysia
Securities Berhad dan lain-lain badan kerajaan dan/atau
berkanun, yang mana kelulusan diperlukan, Lembaga
Pengarah diberikan kuasa mengikut Seksyen 132D Akta
Syarikat 1965, untuk mengagihkan dan menerbitkan
saham Syarikat dari masa ke semasa sebagaimana tatacara
yang ditetapkan dan untuk tujuan yang mengikut budi
bicara mereka, patut, dengan syarat jumlah terkumpul
saham yang diterbitkan melalui resolusi ini tidak melebihi
sepuluh peratus (10%) modal terbitan semasa Syarikat dan
kebenaran ini adalah berkuatkuasa sehingga berakhirnya
Mesyuarat Agung Tahunan yang akan datang.”
(Resolusi 10)
8. Sebagai Urusan Khas - Resolusi Biasa - Cadangan
Pembaharuan Mandat Pemegang Saham bagi Urusniaga
Pihak Berkaitan yang Berulang Berbentuk Hasil atau
Perdagangan dengan BIMB Holdings Berhad dan subsidiarisubsidiarinya (“Kumpulan BHB”).
“BAHAWA, tertakluk kepada pematuhan dengan semua
undang-undang, peraturan dan garis panduan yang
berkaitan, mandat yang diberikan oleh para pemegang
saham Syarikat pada 5 Disember 2007 menurut perenggan
10.09 Keperluan Penyenaraian Bursa Malaysia Securities
Berhad, memberi kuasa kepada Syarikat dan subsidiarisubsidiarinya (“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 18 November
2008 (“Pekeliling”), adalah dan dengan ini diperbaharui,
dengan syarat bahawa:
(a) urusniaga tersebut adalah dalam perjalanan biasa
perniagaan dan atas terma yang tidak lebih memihak
kepada pihak berkaitan berbanding yang secara umumnya
tersedia kepada orang ramai dan atas terma yang tidak
menjejaskan para pemegang saham minoriti Syarikat;
(b) urusniaga dilaksanakan pada asas yang saksama dan
atas terma komersial biasa; dan
7. As Special Business – Ordinary Resolution
“THAT subject always to the Companies Act 1965, the
Articles of Association of the Company and approval
from the Bursa Malaysia Securities Berhad and any other
governmental and/or regulatory bodies, where such
approval shall be necessary, the Directors be and hereby
authorized pursuant to Section 132D of the Companies
Act 1965, to allot and issue shares in the Company from
time to time and upon such terms and conditions and such
purposes as they may, in the absolute discretion, deem
fit provided that the aggregate number of shares to be
issued pursuant to this resolution does not exceed ten per
cent (10%) of the issued capital for the time being of the
Company and that such authority shall continue in force
until the conclusion of the next Annual General Meeting
of the Company.”
(Resolution 10)
8. As Special Business - Ordinary Resolution - Proposed
Renewal of 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 all applicable laws,
regulations and guidelines, the mandate granted by
the shareholders of the Company on 5 December 2007
pursuant to paragraph 10.09 of the Listing Requirements
of the Bursa Malaysia Securities Berhad, authorizing 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 18 November 2008 (“Circular”), be
and is hereby renewed, 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;
(b) the transactions are made at arm’s length and on
normal commercial terms; and
(c) pendedahan akan dibuat dalam laporan tahunan
dengan pecahan nilai agregat urus niaga yang
dijalankan menurut mandat pada tahun kewangan.
DAN BAHAWA pembaharuan dan pemberian mandat
akan terus berkuatkuasa sehingga:
(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.
(a) tamat mesyuarat agung tahunan Syarikat yang akan
datang di mana mandat tersebut diluluskan, di mana
mandat tersebut akan luput, melainkan kuasa tersebut
diperbaharui melalui satu resolusi yang diluluskan
dalam mesyuarat tersebut;
(a) the conclusion of the next annual general meeting of
the Company following the general meeting at which
such mandate was passed, at which time it will lapse,
unless by a resolution passed at the meeting, the
authority is renewed;
(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
(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;
yang mana lebih awal”.
NOTIS DENGAN INI JUGA DIBERI BAHAWA dividen
akhir sebanyak 3.5% tolak 26% cukai bagi tahun kewangan
berakhir 30 Jun 2008, akan dibayar pada 9 Januari 2009
kepada para Pendeposit yang berdaftar di dalam Rekod
Pendeposit pada penutupan perniagaan, 15 Disember
2008.
NOTIS SETERUSNYA DENGAN INI JUGA DIBERI
BAHAWA seorang Pendeposit adalah layak untuk
mendapat hak menerima dividen hanya dalam keadaan:
(a) Saham yang dipindahkan ke dalam Akaun Sekuriti
Pendeposit sebelum 4:00 petang pada 15 Disember
2008 berhubung pindahan; dan
(b) Saham yang dibeli di Bursa Malaysia Securities Berhad
pada asas kelayakan menurut Peraturan Bursa Malaysia
Securities Berhad.
(c) revoked or varied by resolution passed by the
shareholders in a general meeting;
(Resolusi 11)
9. Untuk melaksanakan sebarang urusan yang mana notis
sewajarnya telah diberi.
AND THAT such renewed and granted mandate shall
continue to be in force until:
whichever is the earlier”.
(Resolution 11)
9. To transact any other business for which due notice has
been given.
NOTICE IS ALSO HEREBY GIVEN THAT a final dividend
of 3.5% less 26% tax in respect of the financial year ended
30 June 2008 will be paid on 9 January 2009 to Depositors
registered in the Record of Depositors at the close of
business on 15 December 2008.
FURTHER NOTICE IS HEREBY GIVEN THAT a Depositor
shall qualify for entitlement to the dividend only in respect of:
(a) Shares transferred into the Depositor’s Securities
Account before 4:00 p.m. on 15 December 2008 in
respect of transfers; and
(b) Shares bought on the Bursa Malaysia Securities Berhad
on a cum entitlement basis according to the Rules of
Bursa Malaysia Securities Berhad.
Atas Arahan Lembaga Pengarah
By Order of the Board
MOHAMAD ASRI HAJI YUSOFF (MIA 14171)
Setiausaha Syarikat
Kuala Lumpur
18 November 2008
MOHAMAD ASRI HAJI YUSOFF (MIA 14171)
Company Secretary
Kuala Lumpur
18 November 2008
Nota:
Notes:
1.
1.
Pelantikan Proksi
(i) 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.
(i) 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) 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.
(ii) Suratcara pelantikan proksi bagi individu hendaklah ditandatangani
oleh pelantik atau peguamnya dan dalam hal perbadanan, ia mestilah
di bawah meterai atau ditandatangani oleh seorang pegawai atau
peguamnya yang telah diberi kuasa sewajarnya.
(iii) The instrument appointing a proxy must be deposited at the Registered
Office of the Company at 26th Floor, Annexe Block, 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.
(iii) 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.
2.
2.
Appointment of Proxy
Explanatory Notes to Special Business
Nota Penerangan kepada Urusniaga Khas
(i) Kuasa Bagi Menerbitkan Saham di bawah Seksyen 132D Akta Syarikat,
1965.
Cadangan Resolusi No. 10, sekiranya diluluskan, akan memberikan
kuasa kepada Lembaga Pengarah untuk mengagihkan dan menerbitkan
saham tidak melebihi sepuluh peratus (10%) modal terbitan semasa
Syarikat untuk tujuan yang mengikut pertimbangan Lembaga
Pengarah adalah untuk kepentingan Syarikat. Kecuali dibatalkan
atau diubah oleh Syarikat di dalam mesyuarat agung, kuasa ini akan
tamat tempohnya pada Mesyuarat Agung Tahunan Syarikat yang akan
datang.
(ii) Cadangan Pembaharuan Mandat Pemegang Saham bagi Urusniaga
Pihak Berkaitan yang Berulang Berbentuk Hasil atau Perdagangan.
Cadangan Resolusi No. 11, jika diluluskan, akan memberi kuasa
kepada Syarikat untuk melaksanakan urusniaga pihak berkaitan yang
berulang berbentuk hasil atau perdagangan 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.
(i) Authority to Issue Shares Pursuant to Section 132D of the Companies,
Act 1965.
The proposed Resolution No.10, if passed, will authorize the Directors
of the Company to allot and issue shares up to ten per cent (10%) of
the issued capital of the Company for the time being for such purposes
as the Directors consider would be in the interest of the Company. This
authority unless revoked or varied by the Company in general meeting
will expire at the next Annual General Meeting of the Company.
(ii) Proposed Renewal of Shareholders’ Mandate for Recurrent Related
Party Transaction of a Revenue or Trading Nature.
The proposed Resolution No. 11, 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 shareholders’ approval.
Penyata Mengiringi Notis Mesyuarat
Agung Tahunan Kedua Puluh Tiga
mengikut Perenggan 8.28(2) Keperluan Penyenaraian Bursa Malaysia
Maklumat para Pengarah yang bersedia untuk pemilihan semula atau pelantikan semula dalam Agenda 3 Notis Mesyuarat Agung
Tahunan Kedua Puluh Tiga dibentangkan dalam profil masing-masing dalam bahagian Profil Pengarah di muka surat 16, 17, 21
dan 22 dalam Laporan Tahunan ini. Pegangan sekuriti mereka dalam Syarikat dinyatakan dalam Statistik Pegangan Saham di muka
surat 167 dalam Laporan Tahunan ini.
Statement Accompanying Notice of
Twenty Third Annual General Meeting
pursuant to Paragraph 8.28(2) of the Bursa Malaysia’s Listing Requirements
The details of the Directors who are standing for re-election or re-appointment in Agenda 3 of the Notice of the Twenty Third
Annual General Meeting are set out in their respective profiles which appear in the Directors’ Profiles on pages 16, 17, 21 and 22
of this Annual Report. Their securities holdings in the Company are set out in the Shareholdings Statistics which appear on page
167 of this Annual Report.
Struktur Korporat
Corporate Structure
(63.09%)
Syarikat-Syarikat Subsidiari/
Subsidiary Companies
(99.94%)
(47.08%)
(52.67%)
(56.00%)
P.T. SYARIKAT
Syarikat/Company
Jumlah Kasar Sumbangan Takaful (RM ’000)/Total Gross Takaful Contributions (RM ’000)
2004
2005
2006
2008
2004
2005
Jumlah Aset (RM ’000)/Total Assets (RM ’000)
2004
10
2005
2006
2007
3,796,260
3,291,285
2,983,338
2,661,955
2,360,706
Jumlah Aset/Total Assets
2008
2006
2007
193,372
306,620
264,787
255,575
2007
341,874
Takaful Am/General Takaful
529,689
470,205
375,074
357,145
356,560
Takaful Keluarga/Family Takaful
2008
Syarikat/Company
Keuntungan Sebelum Cukai (RM ’000)/Profit Before Taxation (RM ’000)
2004
14,361
20,120
32,586
33,993
42,659
Keuntungan/Profit
2005
2006
2007
2008
Kumpulan/group
Keuntungan Sebelum Cukai (RM ’000)/Profit Before Taxation (RM ’000)
2004
2005
2006
2007
33,860
21,626
41,006
29,054
21,996
Keuntungan/Profit
2008
11
Maklumat Korporat
LEMBAGA PENGARAH/BOARD OF DIRECTORS
Setiausaha/Secretary
Encik Mohamad Asri b. Hj. Yusoff (MIA 14171)
Pengerusi/Chairman
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
BADAN PENASIHAT SYARIAH/
SHARIAH ADVISORY BODY
Ahli-ahli/Members
Pengerusi/Chairman
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/
Group Managing Director
Y. Bhg. Prof. Madya Dr. Ahmad Shahbari @ Sobri b. Salamon
Y. A. M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu Bakar
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Y. Bhg. Datuk Abdul Hamid b. Said
Puan Rozaida bt. Omar
Y. Bhg. Dr. Aida bt. Othman
(Dilantik pada 6 Mac 2008/Appointed on 6 March 2008)
Encik Mahadzir b. Azizan
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
(Dilantik pada 1 Januari 2008/
Appointed on 1 January 2008)
Encik Johan b. Abdullah
(Dilantik pada 15 Ogos 2008/
Appointed on 15 August 2008)
Y. DH. Dato’ Sri Wan Abdul Wahid b. Wan Hassan
(Bersara pada 25 November 2007/
Retired on 25 November 2007)
Y. Bhg. Dato’ Alwi b. Muhamad
(Bersara pada 30 November 2007/
Retired on 30 November 2007)
Y. Bhg. Dato’ Noorazman b. A. Aziz
(Meletak jawatan pada 1 Januari 2008/
Resigned on 1 January 2008)
12
Ahli-ahli/Members
Y. Bhg. Ustaz Mohd. Bakir b. Hj. Mansor
Y. Bhg. Prof. Madya Dr. Ashraf b. Md. Hashim
(Meletak jawatan pada 1 Julai 2008/Resigned on 1 July 2008)
Setiausaha/Secretary
Encik Wan Jemizan b. Wan Deraman
(Meletak jawatan pada 20 April 2008/Resigned on 20 April 2008)
Encik Mohamad Asri b. Hj. Yusoff
JAWATANKUASA AUDIT/AUDIT COMMITTEE
Pengerusi/Chairman
(Dilantik pada 1 Januari 2008/Appointed on 1 January 2008)
(Bersara pada 25 November 2007/Retired on 25 November 2007)
(Meletak jawatan pada 1 Januari 2008/Resigned on 1 January 2008)
Maklumat Korporat
JAWATANKUASA PEMILIHAN/
NOMINATION COMMITTEE
JAWATANKUASA PENGURUSAN RISIKO/
RISK MANAGEMENT COMMITTEE
Pengerusi/Chairman
Pengerusi/Chairman
(Dilantik pada 1 Mac 2008/Appointed on 1 March 2008)
JAWATANKUASA ESOS/ESOS COMMITTEE
(Dilantik pada 15 Ogos 2008/Appointed on 15 August 2008)
Pengerusi/Chairman
JAWATANKUASA GANJARAN/
REMUNERATION COMMITTEE
Pengerusi/Chairman
Y. A.M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu Bakar
PENGURUSAN/MANAGEMENT
Pengarah Urusan Kumpulan/Group Managing Director
(Dilantik pada 1 Februari 2008/Appointed on 1 February 2008)
Encik Muhammad Anjar b. Kuncoro
Ketua Pegawai Informasi/Chief Information Officer
Puan Azian bt. Kassim
Ketua Pegawai Pelaburan/Chief Investment Officer
Encik Nazrul Hisham b. Abdul Hamid
Ketua Pegawai Audit Dalaman/Chief Internal Auditor
Encik Abdul Khalid b. Salleh
Pengurus Besar, Jualan & Pemasaran/Bancatakaful/
General Manager, Sales & Marketing/Bancatakaful
13
Maklumat Korporat
Puan Balilah bt. Hassan
Pengurus Besar, Sumber Manusia/General Manager,
Human Resource
Puan Fauziah bt. Md. Hasan
Penolong Pengurus Besar, Kewangan/Assistant General Manager,
Finance
KETUA PEGAWAI EKSEKUTIF BAGI SYARIKAT SUBSIDIARI/
CHIEF EXECUTIVE OFFICER OF SUBSIDIARY COMPANIES
Encik Izzuddin b. Tajudin
Ketua Pegawai Eksekutif, Asean Retakaful International (L) Ltd/
Chief Executive Officer, Asean Retakaful International (L) Ltd
PENDAFTAR/REGISTRAR
Symphony Share Registrars Sdn Bhd (378993-D)
Level 26, Menara Multi-Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 603-2721 2222
Fax : 603-2721 2530
Website : www.symphony.com.my
TEMPAT DITUBUHKAN DAN DOMISIL/
PLACE OF INCORPORATION AND DOMICILE
Malaysia
Encik Saiful Yazan b. Ahmad
Direktur Utama, P. T. Syarikat Takaful Indonesia/
President Director, P. T. Syarikat Takaful Indonesia
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
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 : www.takaful-malaysia.com
14
PENYENARAIAN BURSA/BURSA LISTING
Papan Utama/Main Board
Bursa Malaysia Securities Berhad
Fundamental Strength, Continual Resilience
15
Y. BHG. TAN SRI DR. HADENAN B. A. JALIL
Pengerusi Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Chairman
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil, berusia 62 tahun,
adalah warganegara Malaysia dan merupakan Pengerusi Bukan
Eksekutif Bukan Bebas Takaful Malaysia dan telah dilantik pada
1 Oktober 2006.
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil, aged 62, is a Malaysian
citizen and the Non-Independent Non-Executive Chairman of
Takaful Malaysia and was appointed to the Board on 1 October
2006.
Beliau memperolehi Ijazah Sarjana Muda Ekonomi (Kepujian)
dari Universiti Malaya pada tahun 1970 dan kemudian
memperolehi Ijazah Sarjana Pengurusan Perniagaan dari Asian
Institute of Management, Filipina pada tahun 1975. Pada tahun
1986, beliau memperolehi Doktor Falsafah dari Henley–The
Management College, United Kingdom.
He graduated with a Bachelor of Economic (Honours) degree
from the University of Malaya in 1970 and then obtained a
Master in Business Management from the Asian Institute of
Management, Philippines in 1975. In 1986, he obtained a
Doctor of Philosophy from Henley–The Management College,
United Kingdom.
Beliau memulakan kerjayanya sebagai Penolong Setiausaha,
Bahagian Belanjawan di Kementerian Kewangan pada tahun
1970. Beliau kemudian memegang pelbagai jawatan di
Kementerian Kewangan seperti Ketua Penolong Setiausaha,
Bahagian Cukai; Timbalan Setiausaha, Bahagian Ekonomi;
Timbalan Setiausaha, Bahagian Kewangan dan Setiausaha,
Bahagian Kewangan sehingga tahun 1998. Beliau kemudian
berkhidmat di Kementerian Perdagangan Antarabangsa dan
Industri sebagai Timbalan Ketua Setiausaha (Perdagangan) dari
tahun 1998 hingga 1999, Kementerian Kerja Raya sebagai
Ketua Setiausaha dari tahun 1999 hingga 2000 dan sebagai
Ketua Audit Negara di Jabatan Audit Negara sehingga persaraan
beliau pada tahun 2006.
He started his career as an Assistant Secretary, Budget
Division at the Ministry of Finance in 1970. He then assumed
various positions at the Ministry of Finance such as Principal
Assistant Secretary, Tax Division; Deputy Secretary, Economic
Division; Deputy Secretary, Finance Division and Secretary,
Finance Division until 1998. He then served at the Ministry of
International Trade and Industry as Deputy Secretary General
(Trade) from 1998 to 1999, Secretary General at the Ministry
of Works from 1999 to 2000 and as the Auditor General at the
National Audit Department until his retirement in 2006.
Beliau kini adalah Pengerusi Lembaga Pengarah ICB Islamic
Bank, Dhaka, Bangladesh; ahli Lembaga Pengarah dan
Pengerusi Jawatankuasa Audit Island and Peninsular Berhad;
ahli Lembaga Pengarah Unilever (Malaysia) Holdings Sdn Bhd
dan Penasihat Perniagaan Kumpulan, Sinar Jernih Sdn Bhd.
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 apaapa kesalahan dalam tempoh sepuluh (10) tahun yang lalu
dan telah menghadiri lapan (8) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2008.
16
He is also presently the Chairman of ICB Islamic Bank, Dhaka,
Bangladesh; Board member and Chairman of Audit Committee
of Island and Peninsular Berhad; Board member of Unilever
(Malaysia) Holdings Sdn Bhd and Group Business Advisor,
Sinar Jernih Sdn Bhd.
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 attended eight (8) Board of Directors’
meeting during the financial year ended 30 June 2008.
Y. BHG. DATO’ MOHAMED HASSAN B. MD. KAMIL
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil, berusia 45
tahun, adalah warganegara Malaysia dan dilantik ke Lembaga
Pengarah Syarikat Takaful Malaysia Berhad 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, Jawatankuasa Pengurusan
Risiko dan Jawatankuasa ESOS. Beliau juga merupakan
Pengerusi Lembaga Komisaris P.T. Asuransi Takaful Umum dan
P.T. Asuransi Takaful Keluarga, ahli Lembaga Komisaris P.T.
Syarikat Takaful Indonesia dan Pengarah Institut Perbankan dan
Kewangan Islam Malaysia Sdn Bhd (IBFIM).
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil, aged 45, is a
Malaysian citizen and was appointed to the Board of Syarikat
Takaful Malaysia Berhad on 1 September 2006 as a NonIndependent 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, Risk Management Committee and
ESOS Committee. He is also the Chairman of the Board of
Commissioners of P.T. Asuransi Takaful Umum and P.T. Asuransi
Takaful Keluarga, a member of the Board of Commissioners of
P.T. Syarikat Takaful Indonesia and Director of Islamic Banking
and Finance Institute Malaysia Sdn Bhd (IBFIM).
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.
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.
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.
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.
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh (10) tahun yang lalu dan
telah menghadiri sembilan (9) mesyuarat Lembaga Pengarah
the past ten (10) years and attended nine (9) Board of Directors’
17
Y. A. M. TENGKU Dato’ SRI AZMAN IBNI ALMARHUM
SULTAN ABU BAKAR
Y. A. M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu
Bakar, berusia 56 tahun adalah warganegara Malaysia dan
telah dilantik sebagai Pengarah Bukan Eksekutif Bebas Takaful
Malaysia pada 15 Mei 2007. Beliau juga adalah Pengerusi
Jawatankuasa Audit dan ahli Jawatankuasa Ganjaran dan
Jawatankuasa ESOS. Beliau juga merupakan ahli Lembaga
Komisaris P.T. Syarikat Takaful Indonesia.
Y. A. M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu
Bakar, aged 56, is a Malaysian citizen and was appointed as
an Independent Non-Executive Director of Takaful Malaysia on
15 May 2007. He is also the Chairman of Audit Committee and
a member of Remuneration Committee and ESOS Committee.
He is also a member of the Board of Commissioners of P.T.
Syarikat Takaful Indonesia.
Y. A. M. Tengku Dato’ Sri Azman mendapat pendidikan awalnya
di United Kingdom dan memulakan kerjayanya dengan
Hongkong & Shanghai Banking Corporation pada tahun 1973
sebagai Pegawai Rantau Pelatih. Selepas menamatkan tempoh
latihannya di Ibu Pejabat di Hong Kong dan di Institute of
Banking (Part I), beliau pulang ke Malaysia dan terus bekerja
dengan Hongkong & Shanghai Banking Corporation sebelum
membuka perniagaannya sendiri, iaitu Jomalina Sdn Bhd,
sebuah syarikat yang terlibat dengan penapisan minyak sawit
pada tahun 1976. Mulai dari situ, Y.A.M. Tengku Dato’ Sri
Azman meneruskan kerjayanya dengan memegang jawatan
pengurusan dalam beberapa syarikat swasta yang lain. Dalam
tempoh dari tahun 1985 hingga 2001, Y.A.M. Tengku Dato’
Sri Azman memegang jawatan Pengarah di Aetna Universal
Insurance Berhad (kini dikenali sebagai ING Insurance Berhad)
dan Ralco Corporation Berhad, masing-masing adalah syarikat
yang terbabit dalam pelbagai jenis insurans dan pengeluaran
serta perdagangan bahan plastik. Kini, Y. A. M. Tengku Dato’
Sri Azman adalah Pengerusi Eksekutif sebuah syarikat swasta,
Ampmech Industries Sdn Bhd, syarikat yang dilesenkan oleh
Petroliam Nasional Berhad, yang berkecimpung dalam industri
minyak dan gas dan sebagai Pengarah Urusan A. S. Holdings
Sdn Bhd, masing-masing sejak tahun 1998 dan 1980. Beliau
juga merupakan Pengarah di beberapa syarikat sendirian
berhad yang lain.
Y. A. M. Tengku Dato’ Sri Azman had his early education in
the United Kingdom. He started off his career with Hongkong
& Shanghai Banking Corporation in 1973 as Regional Officer
Trainee. After completing the training period in Hongkong Head
Quarters and the Institute of Banking (Part I), he then returned
to Malaysia and continued working with Hongkong & Shanghai
Banking Corporation before setting up his own business,
Jomalina Sdn Bhd, a company involved in palm oil refining
in 1976. From then onwards, Y.A.M. Tengku Dato’ Sri Azman
continued his career path by assuming management positions
in several other private limited companies. In the period from
1985 to 2001, Y.A.M. Tengku Dato’ Sri Azman held the position
of Director of Aetna Universal Insurance Berhad (now known
as ING Insurance Berhad) and Ralco Corporation Berhad,
companies involved in multi-line insurance and manufacturing
and trading of plastic materials respectively. Currently, Y. A. M.
Tengku Dato’ Sri Azman is the Executive Chairman of a private
company, Ampmech Industries Sdn Bhd, a licensed company
by Petroliam Nasional Berhad, specializing in the oil and gas
industry and Managing Director of A. S. Holdings Sdn Bhd since
1998 and 1980 respectively. He is also a Director of several
other private limited companies.
Y. A. M. Tengku Dato’ Sri Azman 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 lapan (8) mesyuarat
Lembaga Pengarah semasa tahun kewangan berakhir 30 Jun 2008.
18
Y. A. M. Tengku Dato’ Sri Azman 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 eight (8) Board of Directors’ meeting during the
PUAN ROZAIDA BT. OMAR
Puan Rozaida bt. Omar, berusia 45 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, Jawatankuasa Pemilihan
dan Jawatankuasa Pengurusan Risiko.
Puan Rozaida bt. Omar, aged 45, 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, Nomination Committee and
Risk Management 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 Pengurus Besar Kanan
(Kewangan) di Lembaga Tabung Haji sejak tahun 2004. Beliau
juga merupakan Pengarah TH Properties Sdn Bhd.
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 Senior
General Manager (Finance) of Lembaga Tabung Haji since
2004. She is also a Director of TH Properties Sdn Bhd.
dan telah menghadiri lapan (8) mesyuarat Lembaga Pengarah
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 attended eight (8) Board of Directors’
19
ENCIK MAHADZIR B. AZIZAN
Encik Mahadzir b. Azizan, berusia 59 tahun, adalah warganegara
Malaysia dan telah dilantik sebagai Pengarah Bukan Eksekutif
Bebas Takaful Malaysia pada 1 September 2007. Beliau juga
merupakan Pengerusi Jawatankuasa Ganjaran, Jawatankuasa
Pengurusan Risiko, Jawatankuasa Pemilihan dan Jawatankuasa
ESOS.
Encik Mahadzir b. Azizan, aged 59, 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 Remuneration Committee, Risk
Management Committee, Nomination Committee and ESOS
Committee.
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 bagi syarikat kumpulan Amanah
Raya Berhad, Pengarah bagi syarikat kumpulan Tabung Haji dan
juga sebagai Pengarah di pelbagai syarikat berkaitan Kerajaan.
Kini, beliau merupakan Pengarah ECM Libra Financial Group
Berhad dan beberapa syarikat lain.
dan telah menghadiri tujuh (7) mesyuarat Lembaga Pengarah
20
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 Amanah Raya Berhad group of companies, Director
of Tabung Haji group of companies as well as various other
directorships in government linked companies.
Currently, Encik Mahadzir is also a Director of ECM Libra
Financial Group and several other companies.
with Takaful Malaysia. He has no conviction for offences
within the past ten (10) years and has attended seven (7) Board
of Directors’ meeting during the financial year ended 30 June
2008.
Pengarah Bukan Eksekutif Bebas /
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof, berusia 57 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,
Jawatankuasa Ganjaran dan Jawatankuasa Pengurusan Risiko.
Beliau juga merupakan Pengerusi Asean Retakaful International
(L) Ltd.
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof, aged 57, 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,
Remuneration 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, SulaimanYusof &
Co. Beliau juga merupakan Pengarah AWC Facility Solutions
Berhad dan beberapa syarikat sendirian berhad yang lain.
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh tahun (10) yang lalu
dan telah menghadiri empat (4) mesyuarat Lembaga Pengarah
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, Officer
of Police District 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,
SulaimanYusof & Co. He is also a Director of AWC Facility
Solutions Berhad and other private limited companies.
the past ten (10) years and attended four (4) Board of Director’s
21
Pengarah Bukan Eksekutif Bukan Bebas /
Encik Johan b. Abdullah, berusia 52 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.
Encik Johan b. Abdullah, aged 52, 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.
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.
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.
Beliau memulakan kerjaya profesionalnya pada tahun 1987 di
Kuala Lumpur Stock Exchange (sekarang ini dikenali sebagai
Bursa Malaysia Berhad) sebagai Listing Officer. 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 Berhad dan telah memegang
pelbagai jawatan kanan termasuk Deputy Chief Regulatory
Officer, Group Regulation. Pada bulan Mei 2008, beliau
menyertai BIMB Holdings Berhad sebagai Pengarah Urusan
Kumpulan/Ketua Pegawai Eksekutif.
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh tahun (10) yang lalu.
22
He started his professional career in 1987 with Kuala Lumpur
Stock Exchange (currently known as Bursa Malaysia 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 Berhad and took
up various senior positions including that of Deputy Chief
Regulatory Officer, Group Regulation. In May 2008, he joined
BIMB Holdings Berhad as Group Managing Director/Chief
Executive Officer.
the past ten (10) years.
Growing with a vision
23
Y. BHG. PROF. MADYA DR. AHMAD
SHAHBARI @ SOBRI B. SALAMON
Y. Bhg. Prof. Madya Dr. Ahmad Shahbari @ Sobri b. Salamon
berusia 66 tahun, adalah warganegara Malaysia dan merupakan
Pengerusi Badan Penasihat Syariah (BPS) Takaful Malaysia dan
telah dilantik pada 1 Julai 1985.
Y. Bhg. Prof. Madya Dr. Ahmad Shahbari @ Sobri b. Salamon,
aged 66, is a Malaysian citizen and is the Chairman of the
Shariah Advisory Body (SAB) of Takaful Malaysia and 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 Fairleigh
Dickenson Universiti, Amerika Syarikat pada tahun 1973 dan
kemudian melanjutkan pengajian di peringkat Ijazah Doktor
Falsafah dalam Sejarah di Universiti New York, 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.
24
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.
Y. BHG. DATUK ABDUL HAMID B. SAID
Y. Bhg. Datuk Abdul Hamid b. Said, berusia 70 tahun, adalah
warganegara Malaysia dan merupakan ahli Badan Penasihat
Syariah (BPS) Takaful Malaysia dan telah dilantik pada 8 Ogos
2005.
Beliau berkelulusan Barrister-At-Law dari Council of Legal
Education, England pada tahun 1980.
Setelah tamat persekolahan di Sekolah Tinggi, Melaka pada
tahun 1957, beliau telah menjalani latihan perguruan di
Malayan Teachers College, Kirkby, Liverpool, England dari tahun
1959 sehingga 1960. Pada tahun 1961, beliau memulakan
kerjayanya sebagai Pensyarah di Maktab Perguruan Brunei.
Pada tahun 1964, beliau telah dipanggil pulang ke Malaysia
dan bertugas sebagai guru di Sekolah Menengah Kebangsaan
Melaka. Pada tahun 1973, beliau menyertai Kementerian
Kebudayaan, Belia dan Sukan sebagai Pegawai Sukan. Dari
tahun 1979 sehingga 1980, beliau telah menyambung
pelajarannya di Council of Legal Education, London, England.
Selepas tamat pengajiannya pada tahun 1981, beliau telah
dilantik sebagai Peguam Persekutuan, Pejabat Peguam Negara.
Beliau kemudiannya meletak jawatan untuk menjadi Pengamal
Undang-Undang di Mahkamah Tinggi Malaya selama 14
tahun. Pada tahun 1998, beliau dilantik menjadi Pesuruhjaya
Kehakiman, Mahkamah Tinggi Melaka. Pada tahun 2000,
beliau ditukarkan ke Mahkamah Tinggi Kuala Lumpur di mana
beliau dilantik sebagai Hakim Mahkamah Tinggi Malaya.
Beliau bersara pada tahun 2003. Pada tahun yang sama, beliau
dilantik menjadi Pengerusi Lembaga Disiplin Peguamcara dan
Peguambela selama dua tahun. Beliau juga merupakan Fellow
Kanan Akademik di Universiti Islam Antarabangsa Malaysia
sehingga 2006.
Y. Bhg. Datuk Abdul Hamid b. Said, aged 70, is a Malaysian
citizen and is a member of the Shariah Advisory Body (SAB) of
Takaful Malaysia and was appointed on 8 August 2005.
He obtained the Barrister-At-Law from the Council of Legal
Education, England in 1980.
After completing his secondary education at Malacca High
School in 1957, he underwent training at the Malayan Teachers
College, Kirkby, Liverpool, England from 1959 to 1960. In
1961, he started his career as a Lecturer in the Teachers Training
College Brunei. In 1964, he was called back to Malaysia and
served as a teacher at Sekolah Menengah Kebangsaan Melaka.
In 1973, he joined Kementerian Kebudayaan Belia dan Sukan
as a Sports Officer. From 1979 to 1980, he continued his studies
in the Counsel of Legal Education, London, England. Upon
completion in 1981, he was appointed as a Federal Council at
the Attorney General Chambers. He resigned to become a Law
Practitioner in the High Court of Malaya for 14 years. In 1998,
he was appointed as Judicial Commissioner in Malacca High
Court. In 2000, he was transferred to the Kuala Lumpur High
Court where he was appointed as a Judge in the High Court of
Malaya. He retired in 2003. In the same year, he was appointed
as the Chairman of the Advocate & Solicitor Disciplinary Body
for two years. He also served as Senior Academic Fellow at the
International Islamic University Malaysia until 2006.
Presently, he is the Chairman of Fennek Global Sdn Bhd,
Chairman of Isra, Director of IJN College Sdn Bhd and a
member of Risk Compliance of Institut Jantung Negara.
Kini beliau memegang jawatan sebagai Pengerusi Fennek
Global Sdn Bhd, Pengerusi Isra, ahli Lembaga Pengarah IJN
College Sdn Bhd dan ahli Jawatankuasa Pematuhan Risiko
Institut Jantung Negara.
25
Y. BHG. USTAZ MOHD BAKIR B. HAJI MANSOR
Y. Bhg. Ustaz Mohd Bakir b. Haji Mansor, berusia 72 tahun,
adalah seorang rakyat Malaysia dan merupakan ahli Badan
Penasihat Syariah (BPS) Takaful Malaysia dan telah dilantik
pada 1 Julai 2002.
Beliau memperolehi Shahadah Ulya (Sijil Tertinggi) dari Kolej
Islam Malaya pada tahun 1965.
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 Bahagian
Pembangunan Sosial, 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 Penolong Ketua Pengarah
Pusat Penyelidikan Islam dari tahun 1981 hingga 1984. Beliau
kemudiannya berkhidmat dengan Bank Islam Malaysia Berhad
sebagai Koordinator Syariah dari tahun 1984 hingga 2001.
Beliau kini berkhidmat di Institut Perbankan dan Kewangan Islam
Malaysia (IBFIM) sebagai Fellow Research. Beliau juga adalah
ahli Majlis Penasihat Syariah Bank Islam Malaysia Berhad.
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.
26
Y. Bhg. Ustaz Mohd Bakir b. Haji Mansor, aged 72, is a Malaysian
citizen and is a member of the Shariah Advisory Body (SAB) of
Takaful Malaysia and was appointed on 1 July 2002.
He obtained the Shahadah Ulya (Highest Certificate) from Kolej
Islam Malaya in 1965.
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 Religious Education Planning Officer at Social Development
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 an Assistant Chief Director of Islamic Research Centre
from 1981 to 1984. He then served at Bank Islam Malaysia
Berhad as Shariah Coordinator from 1984 to 2001.
He is currently a Research Fellow at Islamic Banking and
Finance Institute Malaysia (IBFIM). He is also a member of the
Shariah Supervisory Council of Bank Islam Malaysia Berhad.
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.
Y. Bhg. Dr. Aida bt. Othman
Y. Bhg. Dr. Aida bt. Othman berusia 39 tahun, adalah
warganegara Malaysia dan merupakan ahli Badan Penasihat
Syariah (BPS) Takaful Malaysia dan telah dilantik pada
6 Mac 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.
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
berkhidmat sebagai peguam dalam kumpulan praktis korporat
dan komersial serta perbankan dan kewangan Islam di firma
guaman Zaid Ibrahim & Co. sejak 2006 sehingga sekarang.
Y. Bhg. Dr. Aida bt. Othman aged 39, is a Malaysian citizen
and is a member of the Shariah Advisory Body (SAB) of Takaful
Malaysia and was appointed on 6 March 2008.
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 a
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.
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 lawyer in the corporate and
commercial practice group as well as in the Islamic banking
and finance at a legal firm, Zaid Ibrahim & Co. since 2006.
27
1
2
4
5
1. Y. Bhg. Dato’ Mohamed Hassan b.
Md. Kamil
2. Encik Muhammad Anjar b. Kuncoro
Ketua Pegawai Informasi/
Chief Information Officer
4. Encik Nazrul Hisham b. Abdul
Hamid
Ketua Pegawai Audit Dalaman/
Chief Internal Auditor
5. Encik Abdul Khalid b. Salleh
Pengurus Besar, Jualan & Pemasaran/
Bancatakaful
General Manager, Sales & Marketing/
Bancatakaful
28
3
3. Puan Azian bt. Kassim
Ketua Pegawai Pelaburan/
Chief Investment Officer
6
7
8
9
6. Puan Balilah bt. Hassan
Pengurus Besar, Sumber Manusia/
General Manager, Human Resource
7. Puan Fauziah bt. Md. Hasan
Penolong Pengurus Besar,
Kewangan/Assistant General
Manager, Finance
8. Encik Izzuddin b. Tajudin
Ketua Pegawai Eksekutif/Chief
Executive Officer
Asean Retakaful International (L) Ltd
9. Encik Saiful Yazan b. Ahmad
Direktur Utama/President Director
P.T. Syarikat Takaful Indonesia
29
Lembaga Pengarah Syarikat Takaful Malaysia Berhad (“Takaful
Malaysia”) dengan berbesar hati membentangkan Laporan
Jawatankuasa Audit bagi tahun kewangan yang dikaji.
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.
Jawatankuasa Audit (“Jawatankuasa”) telah ditubuhkan pada
6 Mac 1990 untuk menilai struktur kewangan, sistem kawalan
dalaman, perancangan strategik dan 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 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 tiga (3) orang ahli, dua (2) daripada
mereka adalah Pengarah Bukan Eksekutif Bebas. Maklumat
terperinci mengenai ahli dan mesyuarat yang diadakan sepanjang
tahun kewangan berakhir 30 Jun 2008 adalah seperti berikut:
Nama Ahli
Jawatankuasa Audit
Bil. Mesyuarat
Diadakan
Dihadiri
Y. A. M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu Bakar (Pengerusi)
(Pengarah Bukan Eksekutif Bebas)
8
8
(Pengarah Bukan Eksekutif Bukan Bebas)
8
7
3*
3
Y. DH. Dato’ Sri Wan Abdul
5*
5
Wahid b. Wan Hassan
(Bersara pada 25 November 2007)
Y. Bhg. Dato’ Alwi b. Muhamad 5*
4
(Bersara pada 30 November 2007)
5*
4
(Meletak jawatan pada 1 Januari 2008)
(Pengarah Bukan Eksekutif Bukan Bebas)
Nota: *Menunjukkan bilangan mesyuarat yang diadakan
sepanjang tempoh Pengarah memegang jawatan sebagai ahli
Jawatankuasa Audit.
30
The Committee currently comprises three (3) members, two (2)
of whom are Independent Non-Executive Directors. The details
of members and meetings held during the financial year ended
30 June 2008 are as follows:
Name of Audit
Committee Members
Y. A. M. Tengku Dato’ Sri Azman Ibni
Almarhum Sultan Abu Bakar (Chairman)
(Independent Non-Executive Director)
No. of Meetings
Held
Attended
8
8
8
7
(Non-Independent Non-Executive Director)
3*
3
Y. DH. Dato’ Sri Wan Abdul 5*
5
Wahid b. Wan Hassan
(Retired on 25 November 2007)
Y. Bhg. Dato’ Alwi b. Muhamad 5*
4
(Retired on 30 November 2007)
5*
4
(Resigned on 1 January 2008)
(Non-Independent Non-Executive Director)
Note: * Reflects the number of meetings held during the time
the Director held office as an Audit Committee member.
Puan Rozaida bt. Omar adalah ahli Institut Akauntan Malaysia
(“MIA”). Oleh itu, Takaful Malaysia telah mematuhi Perenggan
15.10 Keperluan Penyenaraian Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) yang menggariskan bahawa sekurangkurangnya seorang (1) ahli Jawatankuasa mestilah merupakan
ahli MIA.
Puan Rozaida bt. Omar is a member of the Malaysian Institute
of Accountants (“MIA”). Thus, Takaful Malaysia complies
with Paragraph 15.10 of the Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) Listing Requirements which stipulate that at
least one (1) member of the Committee must be a member of
the MIA.
Jawatankuasa telah bermesyuarat sebanyak lapan (8) kali pada
tahun kewangan ini. Mesyuarat tersebut telah disusun dan
dijalankan dengan sewajarnya melalui penggunaan agenda
yang diedarkan kepada ahli terlebih dahulu dengan notis yang
mencukupi.
The Committee met eight (8) times during the financial year.
The meetings were appropriately structured and conducted
through the use of agenda which were distributed to members
with sufficient notification.
Pengarah Urusan Kumpulan, Ketua Pegawai Kewangan/Ketua
Bahagian Kewangan dan Ketua Audit Dalaman turut menghadiri
mesyuarat tersebut atas jemputan.
The Group Managing Director, the Chief Financial Officer/
Head of Finance Division and the Chief Internal Auditor also
attended the meetings upon invitation.
TERMA RUJUKAN
TERM OF REFERENCE
Komposisi
Ahli Jawatankuasa hendaklah dilantik oleh Lembaga Pengarah
daripada kalangan mereka dan hendaklah terdiri daripada
sekurang-kurangnya tiga (3) orang ahli, di mana majoritinya
adalah Pengarah Bukan Eksekutif 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”).
Composition
The members of the Committee shall be appointed by the Board
from amongst their numbers and shall comprise at least three
(3) members, the majority of whom shall be Independent NonExecutive 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”).
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
(c) memenuhi keperluan-keperluan lain yang digariskan
oleh Bursa Malaysia.
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
(c) fulfils such other requirements as prescribed by 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.
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.
31
Lembaga Pengarah hendaklah mengkaji semula tempoh
perkhidmatan dan prestasi Jawatankuasa Audit dan setiap
ahlinya sekurang-kurangnya setiap tiga (3) tahun sekali.
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.
Korum dan Prosedur Jawatankuasa
Mesyuarat hendaklah diadakan sekurang-kurangnya empat (4)
kali setahun atau dengan lebih kerap, mengikut keperluan.
Quorum and Committee’s Procedures
Meetings shall be conducted at least four (4) times annually or
more frequently as circumstances dictate.
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.
In order to form a quorum for the meeting, the majority of
the members present must be Independent Non-Executive
Directors. In the absence of the Chairman, the members present
shall elect a Chairman for meeting from amongst the members
present.
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.
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 member of the Committee.
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.
32
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.
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, 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.
The Committee shall have full and unlimited 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 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
auditors.
33
• 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 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.
• 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 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.
•
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.
•
to review the appointment, performance, audit fees and
any question regarding the resignation or dismissal of
external auditors before making recommendations to the
Board.
•
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.
•
to review the Internal Audit Charter, budget and staffing of
the Internal Audit and Compliance Division.
•
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.
•
to direct and where appropriate supervise any special
projects or investigation considered necessary, and review
investigation report on any major defalcation, frauds and
thefts.
• mengkaji pelantikan, prestasi, yuran audit dan sebarang
persoalan berhubung peletakan jawatan atau pemecatan
juruaudit luar sebelum memberi cadangan kepada
Lembaga Pengarah.
•
mengkaji sama ada terdapat sebarang alasan (dengan
disokong oleh sebab-sebab tertentu) untuk mempercayai
bahawa juruaudit luar Syarikat tidak sesuai untuk dilantik
semula.
• mengkaji Piagam Audit Dalaman, belanjawan dan
komposisi kakitangan Bahagian Audit Dalaman dan
Pematuhan.
•
mengkaji kecukupan dan kewibawaan sistem 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.
• mengarah dan sekiranya wajar, menyelia sebarang projek
atau siasatan khas jika perlu, dan mengkaji laporan
siasatan berkenaan sebarang penyalahgunaan, penipuan
dan kecurian yang besar.
34
•
mengkaji keputusan suku tahunan dan penyata kewangan
akhir tahun, sebelum kelulusan Lembaga Pengarah dengan
menumpu terutamanya kepada:
- perubahan atau pelaksanaan dasar perakaunan
utama;
- peristiwa penting dan luar biasa; dan
- pematuhan kepada piawaian perakaunan, Bursa
Malaysia dan keperluan undang-undang lain.
•
to review the quarterly results and the year end financial
statements, prior to the approval by the Board focusing
particularly on:
- changes in or implementation of major accounting
policy;
- significant and unusual events; and
- compliance with accounting standards, Bursa Malaysia
and other legal requirements.
• 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.
•
to ensure prompt publication of annual financial statements/
report.
•
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 question on management integrity.
•
to perform any other functions as may be agreed by the
Board.
kewangan
• 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 tehadap
kewibawaan pihak Pengurusan.
• melaksanakan sebarang fungsi lain
dipersetujui oleh Lembaga Pengarah.
yang
mungkin
RINGKASAN AKTIVITI JAWATANKUASA
SUMMARY OF ACTIVITIES OF THE COMMITTEE
Aktiviti-aktiviti berikut telah dijalankan oleh Jawatankuasa
sepanjang tahun kewangan yang dikaji:
The following activities were undertaken by the Committee
during the financial year under review:
• Mengkaji dan memantau dengan juruaudit luar, keputusan
dan perkembangan audit bagi tahun kewangan berakhir 30
Jun 2007, 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 2007, the audit report and the Management
letter, including Management’s response thereto.
• Berbincang mengenai pelantikan semula juruaudit luar
bagi tahun kewangan berakhir 30 Jun 2008.
•
Discussed the re-appointment of external auditors for the
•
Mengkaji skop kerja dan rancangan audit juruaudit luar
bagi tahun kewangan berakhir 30 Jun 2008. Sebelum
audit dijalankan, wakil-wakil juruaudit luar telah
membentangkan strategi dan rancangan audit.
•
Reviewed the external auditors’ scope of work and audit
plans for the financial year ended 30 June 2008. Prior to the
audit, representatives from the external auditors presented
their audit strategy and plan.
•
Berbincang mengenai yuran audit yang perlu dibayar
kepada juruaudit luar.
•
Discussed the audit fees payable to the external auditors.
35
•
Berbincang dengan juruaudit luar berhubung sebarang
perkara yang memerlukan perhatian Lembaga Pengarah
dan Pemegang Saham tanpa kehadiran ahli Lembaga
Pengarah Eksekutif dan pihak Pengurusan.
•
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.
•
Mengkaji pelan audit, program dan keperluan sumber
Bahagian Audit Dalaman dan Pematuhan bagi tahun
kewangan yang dikaji.
•
Reviewed the Internal Audit and Compliance Division’s
audit plan, programmes and resources requirements for the
financial year under review.
•
Mengkaji laporan audit dalaman dan audit khas untuk
Takaful Malaysia dan subsidiarinya yang menekankan
isu-isu audit, cadangan dan maklum balas pihak
Pengurusan berkaitannya. 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.
•
•
Mengkaji laporan susulan oleh juruaudit dalaman
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.
•
Reviewed Management report on disciplinary cases of its
employees.
•
Monitored the progress of the Internal Audit and Compliance
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.
•
Mengkaji laporan susulan oleh juruaudit dalaman
berhubung isu yang dibangkitkan dalam surat Pengurusan
oleh juruaudit luar dan status tindakan yang diambil oleh
pihak Pengurusan mengenai isu tersebut.
•
Mengkaji laporan pihak Pengurusan mengenai kes-kes
disiplin kakitangan.
•
Memantau perkembangan Bahagian Audit Dalaman dan
Pematuhan 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.
36
•
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.
•
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.
•
Mengkaji laporan Pematuhan mengenai tahap pematuhan
dengan keperluan Pihak Penguatkuasa, undang-undang
dan Akta.
•
Reviewed the Compliance reports on the level of
compliance with Regulators’ requirements, laws and Acts.
•
•
Membincangkan pelaksanaan keperluan-keperluan baru
yang digariskan oleh Pihak Penguatkuasaan.
Discussed the implementation of new requirements set
forth by the Regulators.
•
Mengkaji laporan berhubung Pencegahan Penggubahan
Wang Haram.
•
Reviewed the reports on Anti Money Laundering.
•
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.
•
In respect of the Company’s Employees’ Share Option
Scheme, there was no allocation of options in the year for
the Committee to review.
•
Mengkaji pengumuman keputusan kewangan suku tahunan
yang belum diaudit sebelum disyorkan kepada Lembaga
Pengarah untuk kelulusan.
•
Mengkaji urusniaga
Kumpulan.
•
Mengkaji penyata pendedahan dalam Laporan Tahunan
seperti Penyata Urus Tadbir Korporat, Penyata Kawalan
Dalaman dan Laporan Jawatankuasa Audit dalam mematuhi
Keperluan Penyenaraian Bursa Malaysia.
•
pihak
yang
berkaitan
dalam
Berhubung Skim Opsyen Saham Kakitangan Syarikat,
tiada sebarang peruntukan opsyen untuk dikaji oleh
Jawatankuasa pada tahun ini.
FUNGSI DAN AKTIVITI AUDIT DALAMAN
Bahagian Audit Dalaman dan Pematuhan adalah bebas daripada
aktiviti atau operasi unit-unit operasi lain. 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.
Bagi menyediakan pemantauan berterusan ke atas persekitaran
IT Takaful Malaysia, satu Unit Audit IT telah ditubuhkan untuk
memastikan supaya persekitaran IT diuruskan sebaiknya dan
sebarang risiko yang telah dikenal pasti ditangani dengan
sewajarnya.
INTERNAL AUDIT FUNCTION AND ACTIVITIES
The Internal Audit and Compliance Division is independent
of the activities or operations of other operating units. 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.
In order to provide a continuous monitoring on Takaful
Malaysia’s IT Environment, an IT Audit Unit has been established
to ensure that the IT Environment is adequately managed and
any risks identified are addressed accordingly.
37
Adalah menjadi tanggungjawab Bahagian Audit Dalaman dan
Pematuhan untuk menyediakan laporan bebas dan objektif
kepada Jawatankuasa tentang status kawalan dalaman di
pelbagai unit operasi dalam Kumpulan serta tahap pematuhan
unit-unit tersebut terhadap dasar dan prosedur Kumpulan serta
terhadap keperluan berkanun yang berkaitan.
It is the responsibility of the Internal Audit and Compliance
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.
Ringkasan aktiviti sepanjang tahun adalah seperti berikut:
A summary of its activities for the year is as follows:
•
Menyediakan kaedah penarafan audit dalam menilai
dan memberi penarafan kepada tahap risiko di pelbagai
bahagian yang boleh diaudit untuk pertimbangan
Jawatankuasa.
•
Prepared audit rating methodology in assessing and
rating the risk levels of the various auditable areas for the
Committee’s consideration.
•
Menyediakan pelan audit tahunan bagi jabatan, cawangan,
subsidiari serta IT untuk pertimbangan Jawatankuasa.
•
Prepared annual audit plan of departments, branches,
subsidiaries as well as IT for the Committee’s
consideration.
•
Menjalankan audit ke atas jabatan, cawangan, subsidiari
dan sebagainya seperti yang dinyatakan dalam Pelan
Audit.
•
Conducted audits on departments, branches, subsidiaries,
etc. as set out in the Audit Plan.
•
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 findings of internal auditors, external auditors, BNM
examiners, etc.
•
Menjalankan audit ad-hoc dan penyiasatan ke atas kes-kes
khas.
•
Conducted ad-hoc audits and investigations on special cases.
•
Menjalankan kajian ke atas pelaksanaan sistem IT sebelum
ianya dilaksanakan.
•
Conducted reviews on IT system implementation before
embarking into production.
•
Menyertai projek/aktiviti berkaitan dengan migrasi sistem
Syarikat.
•
Participated in the Company’s system migration project/
activities.
•
Menyelaras pelaksanaan semakan semula ke atas Had
kuasa dan Prosedur Operasi Piawai melalui fungsi
pematuhannya.
•
Coordinated the revision exercise on Limit of authority
and Standard Operating Procedures via its compliance
function.
Laporan daripada tugasan audit dikemukakan kepada
Pengurusan untuk perhatian dan tindakan pembetulan yang
perlu seperti yang dicadangkan. Pengurusan bertanggungjawab
memastikan tindakan pembetulan terhadap kelemahan yang
dilapor dilaksanakan dalam jangka masa yang ditetapkan.
38
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.
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 Bursa
Malaysia Securities Berhad (“Keperluan Penyenaraian Bursa
Malaysia”) sepanjang tahun kewangan yang dikaji.
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 Listing
Requirements of Bursa Malaysia Securities Berhad (“Bursa
Malaysia Listing Requirements”) during the financial year under
review.
DIRECTORS
PENGARAH
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.
Mesyuarat Lembaga Pengarah
Mesyuarat Lembaga Pengarah dijadualkan terlebih dahulu
pada permulaan tahun kalendar dengan mesyuarat tambahan
diadakan bila perlu. Sembilan (9) mesyuarat Lembaga Pengarah
telah diadakan pada tahun kewangan yang dikaji dengan
butiran kehadiran setiap Pengarah seperti berikut:
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.
Board Meetings
Board meetings are scheduled in advance at the beginning
of a calendar year with additional meetings convened when
necessary. Nine (9) Board meetings were held during the
financial year under review with details of meetings’ attendance
of each Director as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
(Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Director)
8/9
89
Y. Bhg. Dato’ Mohamed Hassan b. Md Kamil
(Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director)
9/9100
Y. A. M. Tengku Dato’ Sri Azman Ibni Almarhum Sultan Abu Bakar (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
8/9
89
39
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
8/9
89
Encik Mahadzir b. Azizan (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
(Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
(Dilantik pada 15 Ogos 2008/Appointed on 15 August 2008)
7/7100
4/4100
4/5
80
5/5100
4/4100
t/b
n/a
t/b
n/a
t/b – tidak berkenaan kerana tarikh pelantikan adalah selepas
tahun kewangan berakhir 30 Jun 2008
n/a – not applicable as the date of appointment is after the
financial year end 30 June 2008.
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.
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.
Keseimbangan Lembaga Pengarah
Sepanjang tahun kewangan yang dikaji, Lembaga Pengarah
terdiri daripada:
Board Balance
During the financial year under review, the Board comprises
the following:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director1/616.7%
Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Directors
2/6
33.3%
Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Directors
3/6
50.0%
40
* Komposisi di atas adalah selepas persaraan Y.DH. Dato’ Sri
Wan Abdul Wahid b. Wan Hassan dan Y. Bhg. Dato’ Alwi b.
Muhamad masing-masing pada 25 November 2007 dan 30
November 2007, peletakan jawatan Y. Bhg. Dato’ Noorazman
b. A. Aziz pada 1 Januari 2008; dan pelantikan Y. Bhg. Dato’
Sulaiman b. Mohd Yusof pada 1 Januari 2008; tetapi sebelum
pelantikan Encik Johan b. Abdullah pada 15 Ogos 2008.
* The above composition is after the retirement of Y. DH. Dato’
Sri Wan Abdul Wahid b. Wan Hassan and Y. Bhg. Dato’ Alwi
b. Muhamad on 25 November 2007 and 30 November 2007
respectively; the resignation of Y. Bhg. Dato’ Noorazman b. A.
Aziz on 1 January 2008; and the appointment of Y. Bhg. Dato’
Sulaiman b. Mohd Yusof on 1 January 2008; but before the
appointment of Encik Johan b. Abdullah on 15 August 2008.
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, audit, insurans, aktuari, perakaunan,
kesetiausahaan syarikat, perundangan, pengurusan dan
perbankan. Profil ahli Lembaga Pengarah ada dibentangkan di
mukasurat 16 hingga 22 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 specialisations,
collectively bring with them a wide range of experience and
expertise in areas such as finance, audit, insurance, actuary,
accounting, company secretarial, legal, management and
banking. The profiles of the Directors are provided on pages
16 to 22 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.
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 lima (5)
Jawatankuasa Lembaga Pengarah, iaitu:
•
•
•
•
•
Jawatankuasa Audit
Jawatankuasa Pemilihan
Jawatankuasa Ganjaran
Jawatankuasa Pengurusan Risiko; dan
Jawatankuasa ESOS
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 five (5) Board Committees,
namely:
•
•
•
•
•
Audit Committee
Nomination Committee
Remuneration Committee
Risk Management Committee; and
ESOS Committee
41
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.
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.
Bagi memastikan operasi dan produk Kumpulan yang
ditawarkan selaras dengan Prinsip Syariah, Lembaga Pengarah
mengamanahkan peranan dan tanggungjawab ini kepada
Badan Penasihat Syariah.
In ensuring that the Group’s operations and products offered
are in accordance with Shariah Principle, the Shariah Advisory
Body is entrusted by the Board to undertake such roles and
responsibility.
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.
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.
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”),
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.
42
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
will ensure that all the appointments are properly made, all
necessary information are obtained, as well as all legal and
regulatory requirements are met.
Jawatankuasa Pemilihan
Jawatankuasa Pemilihan kini terdiri daripada empat (4) Pengarah
Bukan Eksekutif dan seorang (1) Pengarah Eksekutif, di mana
dua (2) daripada mereka adalah Pengarah Bebas. Pengerusi
Jawatankuasa kini ialah Encik Mahadzir b. Azizan, seorang
Pengarah Bukan Eksekutif Bebas. Jawatankuasa Pemilihan
telah bermesyuarat sebanyak empat (4) kali sepanjang tahun
kewangan ini.
Nomination Committee
The Nomination Committee currently consist of four (4) NonExecutive Directors and one (1) Executive Director, two (2) of
whom are Independent. The current Chairman of the Committee
is Encik Mahadzir b. Azizan, an Independent Non-Executive
Director. The Nomination Committee met four (4) times during
the financial year.
Jawatankuasa Pemilihan telah diberikan mandat oleh Lembaga
Pengarah dan terma rujukannya untuk membentang kepada
Pengarah cadangan pemilihan ahli Lembaga Pengarah dan
Pengarah Urusan Kumpulan/Ketua Pegawai Eksekutif, dan
sentiasa mengkaji syarat-syarat pelantikan Pengarah/Pengarah
Urusan Kumpulan/Ketua Pegawai Eksekutif. 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.
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 and Group Managing
Director/Chief Executive Officer, and keeps under review the
terms of appointment of Directors/Group Managing Director/
Chief Executive Officer. 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.
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 termasuk latihan dalaman yang diatur oleh
BIMB Holdings Berhad yang berkaitan, antaranya, Kemaskini
Kod Urus Tadbir Korporat Malaysia & Tugas-tugas Pengarah,
Akta Pasaran & Perkhidmatan Modal Malaysia 2007, Kes-kes
& Perkembangan Terkini Produk Kewangan Islam dan Liabiliti
Pengarah & Pegawai. Takaful Malaysia juga terus menyediakan
Pekeliling BNM, Keperluan Penyenaraian Bursa Malaysia
yang dikemaskini dan peraturan-peraturan baru lain untuk
membantu para Pengarah dalam mendapatkan maklumat
mengenai perkembangan terkini.
During the year, the Directors attended training courses
including in house training arranged by BIMB Holdings
Berhad related to, amongst others, Update on Malaysian
Code on Corporate Governance & Directors’ Duties, the
Malaysian Capital Markets & Services Act 2007, Recent Cases
& Developments of Islamic Financial Products and Directors &
Officers Liability. 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.
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.
43
GANJARAN PENGARAH
DIRECTORS’ REMUNERATION
Peringkat dan Kandungan Ganjaran
Jawatankuasa Ganjaran bertanggungjawab mengesyorkan
rangka kerja ganjaran bagi para Pengarah termasuk pakej
ganjaran bagi Pengarah Eksekutif kepada Lembaga Pengarah
bagi memastikan Takaful Malaysia mampu menarik minat,
memberi motivasi dan mengekalkan ahli Lembaga Pengarah
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.
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 to the Board
so as to ensure that Takaful Malaysia attracts, motivates
and retains the Directors 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.
Yuran para Pengarah diluluskan oleh para pemegang saham di
Mesyuarat Agung Tahunan.
Jawatankuasa Ganjaran
Jawatankuasa Ganjaran kini terdiri daripada tiga (3) orang
Pengarah Bukan Eksekutif, di mana kesemua mereka adalah
Pengarah Bebas, dan seorang (1) Pengarah Eksekutif. Pengerusi
Jawatankuasa kini ialah Encik Mahadzir b. Azizan, seorang
Pengarah Bukan Eksekutif Bebas. Jawatankuasa Ganjaran telah
bermesyuarat sebanyak tiga (3) kali pada tahun kewangan ini.
Pendedahan
Ringkasan maklumat mengenai ganjaran para Pengarah bagi
tahun berakhir 30 Jun 2008 adalah seperti berikut:
Directors’ fees are approved by the shareholders at the Annual
General Meeting.
Remuneration Committee
The Remuneration Committee currently consist of three (3)
Non-Executive Directors, all of whom are Independent and one
(1) Executive Director. The current Chairman of the Committee
is Encik Mahadzir b. Azizan, an Independent Non-Executive
Director. The Remuneration Committee met three (3) times
Disclosure
A summary of the remuneration of the Directors for the year
ended 30 June 2008 is as follows:
Ganjaran Pengarah/
Jumlah Pengarah/
Directors’ Remuneration
Number of Directors
Pengarah Eksekutif/
Pengarah Bukan Eksekutif/
Executive Director
Non Executive Directors
(RM’000)
(RM’000)
Dibawah/Below than RM50,000
-
7
RM50,001 – RM100,000
-1
RM100,001 – RM150,000
-
RM150,001 – RM200,000
-
Melebihi/More than RM200,0011
Jumlah/Total
1
8
44
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 penganalisis dan pemegang
saham sekurang-kurangnya sekali (1) setahun sejurus selepas
Mesyuarat Agung Tahunan. Selain itu, pelbagai pendedahan
dan pengumuman dibuat kepada Bursa Malaysia termasuk
keputusan suku tahunan, pulangan setengah tahunan dan
keputusan tahunan bagi memudahkan sebaran maklumat
kepada pemegang saham. Tambahan lagi, maklumat-maklumat
lain mengenai Syarikat boleh diperolehi di laman web Takaful
Malaysia, iaitu www.takaful-malaysia.com. Pertanyaan
mengenai operasi perniagaan dijawab oleh Unit Khidmat
Pelanggan.
Dialogue between the Company and Investors
Takaful Malaysia recognises 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 analysts and shareholders at least
once (1) a year immediately after 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. Queries pertaining to business operations
are answered by the Customer Services Unit.
Mesyuarat Agung Tahunan
Mesyuarat Agung Tahunan adalah forum utama bagi dialog
dengan pemegang saham individu. 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.
The Annual General Meeting
The Annual General Meeting is the principal forum for dialogues
with private 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 reelected.
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.
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.
45
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 30
Jun 2008, 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.
46
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 30 June 2008, 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 has 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.
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 53 hingga 56 dalam Laporan Tahunan ini memberikan
tinjauan menyeluruh mengenai kedudukan kawalan dalaman
Kumpulan.
Hubungan dengan Juruaudit
Peranan Jawatankuasa Audit dinyatakan di muka surat 30
hingga 38. 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.
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 53 to
56 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 30 to
38. 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 20 October 2008.
Penyata ini dibuat selaras dengan resolusi Lembaga Pengarah
bertarikh 20 Oktober 2008.
47
1. UTILISATION OF PROCEEDS
1. PENGGUNAAN DANA
Terbitan bonus, terbitan hak dan pelaksanaan penempatan
persendirian masing-masing telah diselesaikan pada 16
September 2003, 27 Oktober 2003 dan 25 Mac 2005
sementara ESOS telah dilaksanakan pada 3 November 2003.
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.
Dana daripada pelaksanaan penempatan persendirian yang
berjumlah RM10,878,000 telah digunakan sepenuhnya
untuk modal kerja dalam tahun kewangan berakhir 30 Jun
2005 sementara penggunaan dana terbitan hak pada 30
Jun 2008 adalah seperti berikut:
Total proceeds from the private placement exercise of
RM10,878,000 had been fully utilised for working capital
during the financial year ended 30 June 2005 whilst the
utilisation of rights issue proceeds as at 30 June 2008 are
as follows:
Penggunaan Dana Terbitan Hak
Utilisation of Rights Issue Proceeds
Pelaburan
Menaiktaraf Modal
Tambahan
Sistem Teknologi
Kerja
Dalam Maklumat
Working
Syarikat
Upgrading
Capital
Subsidiari
of IT Systems
Additional
Investment
in Subsidiaries
(RM’000)
Cadangan penggunaan dana terbitan hak/
Proposed utilisation of rights issue proceeds
30,531
Peruntukan semula dana terbitan hak*/13,731
Reallocation of rights issue proceeds*
(RM’000)
(RM’000)
Pembiayaan
Perbelanjaan
Berkaitan Terbitan Bonus, Terbitan Hak,
Penempatan
Persendirian dan
Pelaksanaan ESOS
Defray Expenses
Relating to Bonus
Issue, Rights Issue,
Private Placement and
ESOS Exercises
(RM’000)
30,00014,9691,500
-
(13,731)
Jumlah
Dana
Total
Proceeds
(RM’000)
77,000
-
-
Jumlah kecil/Sub-total
44,262
30,0001,2381,500
77,000
Tolak : Jumlah penggunaan setakat 30.06.2008/
Less : Amount utilised as at 30.06.2008
(23,039)
(30,000)
(1,238)
(898)
(55,175)
Baki dana terbitan hak/
Remaining rights issue proceeds
21,223
-
-
602
21,825
* Lembaga Pengarah sebelum ini telah meluluskan peruntukan
semula dana terbitan hak berjumlah RM13,731,000 bagi
pelaburan tambahan dalam syarikat-syarikat subsidiari sebagai
modal kerja.
48
* The Board of Directors had earlier approved the reallocation
of the rights issue proceeds amounting to RM13,731,000 for
additional investment in subsidiary companies for their working
capital purposes.
2. PEMBELIAN BALIK SAHAM
Dalam tahun kewangan, tiada sebarang pembelian balik
saham dilakukan oleh Takaful Malaysia.
2. SHARE BUYBACKS
During the financial year, there were no share buybacks by
Takaful Malaysia.
3. OPSYEN, WARAN ATAU SEKURITI BOLEH TUKAR
3. OPTIONS, WARRANTS OR CONVERTIBLE SECURITIES
Tidak ada opsyen, waran atau sekuriti boleh tukar yang
diterbitkan oleh Takaful Malaysia sepanjang tahun kewangan.
No options, warrants or convertible securities were issued
by Takaful Malaysia during the financial year.
4. PROGRAM AMERICAN DEPOSITORY RECEIPT (ADR)
ATAU GLOBAL DEPOSITORY RECEIPT (GDR)
4. AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL
DEPOSITORY RECEIPT (GDR) PROGRAMME
Dalam tahun kewangan, Takaful Malaysia tidak menaja
sebarang program ADR atau GDR.
During the financial year, Takaful Malaysia did not sponsor
any ADR or GDR programme.
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
tahun kewangan.
6. YURAN BUKAN AUDIT
Tiada yuran bukan audit yang dibayar kepada juruaudit
luar pada tahun kewangan.
7. VARIASI KEPUTUSAN
Terdapat variasi positif sebanyak 18.16% di antara
keputusan yang telah diaudit bagi tahun kewangan
berakhir 30 Jun 2008 dan keputusan belum diaudit yang
diumumkan sebelum ini disebabkan oleh pelarasan audit
bagi cukai perkhidmatan dan rizab tuntutan bagi kes-kes
yang belum dilaporkan (IBNR) bagi Takaful Keluarga dan
Am. Penyesuaian variasi adalah seperti berikut:
5. IMPOSITIONS OF SANCTIONS/ PENALTIES
There were no sanctions and/or penalties imposed
on Takaful Malaysia and its subsidiaries, Directors or
Management by relevant regulatory bodies during the
financial year.
6. NON-AUDIT FEES
There were no non-audit fees paid to external auditors
7. VARIATION IN RESULTS
There was a positive variation of 18.16% between the
audited results for the financial year ended 30 June 2008
and the unaudited results previously announced mainly
due to audit adjustments for service tax and incurred but
not reported (IBNR) claim reserve for Family and General
Takaful. The reconciliation of the variation is as follows:
Maklumat/Details RM’000
Keuntungan sebelum diaudit bagi tahun semasa selepas cukai dan kepentingan pihak minoriti/
Unaudited profit for the year after tax and minority interest
Pelarasan audit bagi/Audit adjustments for:
Lebihan peruntukan cukai perkhidmatan untuk Takaful Keluarga dan Am/ 8,212
Overprovision of service tax for Family and General Takaful
Penambahan rizab IBNR bagi Takaful Keluarga dan Am/
(2,705)
Additional IBNR reserve for Family and General Takaful
Pelarasan-pelarasan lain/Other adjustments
(942)
Keuntungan setelah diaudit selepas cukai dan kepentingan pihak minoriti/
Audited profit for the year after tax and minority interest
Takaful Malaysia tidak mengeluarkan sebarang anggaran,
ramalan atau unjuran keuntungan bagi tahun kewangan.
RM’000
25,140
4,565
29,705
Takaful Malaysia did not release any profit estimate,
forecast or projections for the financial year.
49
8. JAMINAN KEUNTUNGAN
Dalam tahun kewangan, tiada jaminan keuntungan diberi
oleh Takaful Malaysia.
9. KONTRAK PENTING
During the financial year, there was no profit guarantee
given by Takaful Malaysia.
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 have
been entered into by Takaful Malaysia or its subsidiary
companies within the last two (2) years preceding the date
of this Annual Report save as disclosed below:
i.
i.
Perjanjian lesen, bekalan, penghantaran, pemasangan,
pembuatan mengikut tempahan, penerimaan,
penyelenggaraan dan perkhidmatan profesional
bertarikh 29 Jun 2007 di antara Takaful Malaysia dan 3i
Infotech Sdn Bhd bagi pelaksanaan sistem pengurusan
insurans bersepadu dan perkhidmatan sokongan bagi
kontrak berjumlah RM15,176,080.
ii. Perjanjian
perkhidmatan
pengurusan
operasi
infrastruktur IT bertarikh 1 Julai 2008 diantara Takaful
Malaysia dan Hewlett-Packard (M) Sdn Bhd untuk
menguruskan operasi infrastruktur IT Takaful Malaysia
bagi kontrak berjumlah RM11,840,142.
10. KONTRAK BERKAITAN DENGAN PINJAMAN
Tiada kontrak berkaitan dengan pinjaman oleh Takaful
Malaysia dalam tahun kewangan.
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.
50
8. PROFIT GUARANTEE
a licence, supply, delivery, installation, customization,
acceptance, maintenance and professional services
agreement dated 29 June 2007 between Takaful
Malaysia and 3i Infotech Sdn Bhd in respect of
the implementation of the integrated insurance
management system and support services for a total
contract sum of RM15,176,080.
ii. IT infrastructure operations management services
agreement dated 1 July 2008 between Takaful Malaysia
and Hewlett-Packard (M) Sdn Bhd to manage Takaful
Malaysia’s IT infrastructure operations for a total
contract sum of RM11,840,142.
10. CONTRACTS RELATING TO LOAN
There were no contracts relating to a loan by Takaful
Malaysia during the financial year.
11. REVALUATION OF LANDED PROPERTIES
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 account in the period in which they arise.
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk Urusniaga
Pihak
Pihak Berkaitan, kepentingan mereka dan
Nature of Transactions
Berkaitan
bentuk hubungan dengan
yang
Kumpulan Takaful Malaysia
berurusniaga
Related Parties, their interests and
Related
nature of relationships with the
Parties
Takaful Malaysia Group
transacted
with
Pajakan mesin penyalin
Lease of copier machine
Syarikat Al-Ijarah Syarikat Al-Ijarah adalah subsidiari milik penuh BHB. BHB
adalah pemegang saham utama Takaful Malaysia yang
Sdn Bhd
(Syarikat Al-Ijarah) memegang kepentingan ekuiti Syarikat sebanyak 65.72 %
pada 30 Jun 2008.
Nilai
Urusniaga
Sebenar dari
1 Julai 2007
hingga 30
Jun 2008
Actual
Transaction
Value from
1 July 2007 to
30 June 2008
(RM’000)
394
Encik Johan b. Abdullah adalah Pengarah BIMB dan BHB
dan juga Pengarah Takaful Malaysia, yang dilantik oleh
BHB. Encik Johan b. Abdullah tidak mempunyai sebarang
kepentingan langsung atau tidak langsung dalam BHB dan
Takaful Malaysia.
Tan Sri Dr. Hadenan b. A. Jalil, Dato’ Mohamed Hassan b. Md.
Kamil dan Puan Rozaida bt. Omar adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Tan Sri Dr. Hadenan b. A.
Jalil, Dato’ Mohamed Hassan b. Md. Kamil dan Puan Rozaida
bt. Omar tidak mempunyai sebarang kepentingan langsung
atau tidak langsung 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 65.72 % in the Company as at 30 June 2008.
Encik Johan b. Abdullah is a Director in BIMB and BHB and is
also a Director in Takaful Malaysia, nominated by BHB. Encik
Johan b. Abdullah does not have any direct or indirect interest
in BHB and Takaful Malaysia.
Kamil and Puan Rozaida bt. Omar are Directors in Takaful
Malaysia, nominated by BHB. Tan Sri Dr. Hadenan b. A. Jalil,
Dato’ Mohamed Hassan b. Md. Kamil and Puan Rozaida bt.
Omar do not have any direct or indirect interest in BHB and
Takaful Malaysia.
51
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk Urusniaga
Pihak
Pihak Berkaitan, kepentingan mereka dan
Nature of Transactions
Berkaitan
bentuk hubungan dengan
yang
Kumpulan Takaful Malaysia
Related Parties, their interests and
berusniaga
Related
nature of relationships with the
Parties
Takaful Malaysia Group
transacted
with
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)
BIMB
BIMB adalah subsidiari 51% milik BHB. BHB adalah pemegang
saham utama Takaful Malaysia yang memegang kepentingan
ekuiti sebanyak 65.72 % dalam Syarikat pada 30 Jun 2008.
Encik Johan b. Abdullah adalah Pengarah BIMB dan BHB
dan juga Pengarah Takaful Malaysia, yang dilantik oleh
BHB. Encik Johan b. Abdullah tidak mempunyai sebarang
kepentingan langsung atau tidak langsung dalam BHB dan
Takaful Malaysia.
Kamil dan Puan Rozaida bt. Omar adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Tan Sri Dr. Hadenan b. A.
Jalil, Dato’ Mohamed Hassan b. Md. Kamil dan Puan Rozaida
bt. Omar tidak mempunyai sebarang kepentingan langsung
atau tidak langsung 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
65.72 % in the Company as at 30 June 2008.
Encik Johan b. Abdullah is a Director in BIMB and BHB and is
also a Director in Takaful Malaysia, nominated by BHB. Encik
Johan b. Abdullah does not have any direct or indirect interest
in BHB and Takaful Malaysia.
Kamil and Puan Rozaida bt. Omar are Directors of Takaful
Malaysia, nominated by BHB. Tan Sri Dr. Hadenan b. A. Jalil,
Dato’ Mohamed Hassan b. Md. Kamil and Puan Rozaida bt.
Omar do not have any direct or indirect interest in BHB and
Takaful Malaysia.
52
Nilai
Urusniaga
Sebenar dari
1 Julai 2007
hingga 30
Jun 2008
Actual
Transaction
Value from
1 July 2007 to
30 June 2008
(RM’000)
7,258
Penyata ini disediakan menurut Keperluan Penyenaraian Bursa
Malaysia Securities Berhad berkaitan dengan Pematuhan
Kumpulan terhadap Prinsip dan 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 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”).
Tanggungjawab Lembaga Pengarah
Board Responsibility
Lembaga
Pengarah
mengiktiraf
bahawa
mereka
bertanggungjawab ke atas sistem kawalan dalaman
Kumpulan yang mana termasuk memastikan kecukupan
dan kewibawaannya pada setiap masa, serta keselarasannya
dengan matlamat perniagaan. Sistem kawalan dalaman
tersebut menangani keperluan operasi perniagaan agar
sentiasa berkesan dan cekap, laporan kewangan dan prosedur
kawalan yang tersusun serta pematuhan dengan undangundang dan peraturan yang berkaitan. Walau bagaimanapun,
perlu diingatkan bahawa sistem ini dirumus untuk mengurus
dan bukannya menghapuskan risiko kegagalan mencapai
objektif perniagaan tetapi hanya boleh memberi jaminan yang
munasabah ke atas salah nyata atau kerugian yang ketara.
The Board acknowledges its ultimate responsibility for the
Group’s system of internal control that includes the assurance
of its adequacy and integrity at all times and, its alignment with
the business objectives. The system of internal control addresses
the need for effective and efficient business operations, sound
financial reporting and control procedures, and compliance
with relevant laws and regulations. However, it should be
noted that this system is designed to manage rather than to
eliminate risks of failure to achieve business objectives and as
such, could only provide reasonable assurance against material
misstatement or loss.
Lembaga Pengarah komited untuk mengekalkan satu sistem
kawalan dalam yang berwibawa, justeru, dengan sukacitanya
membentangkan penyata berhubung kawalan dalaman
Kumpulan sepanjang tempoh yang dikaji.
Rangka Kerja Pengurusan Risiko
Lembaga Pengarah mengakui bahawa mengenal pasti dan
mengurus risiko utama memainkan peranan penting dan
merupakan asas dalam mencapai objektif perniagaan Kumpulan
serta dalam menguruskan operasi hariannya.
Bagi mencapai objektif tersebut, Lembaga Pengarah telah
menyediakan rangka kerja Pengurusan Risiko Seluruh
Perniagaan (“ERM”) dalam Kumpulan bagi memastikan supaya
wujud proses yang berterusan bagi mengenal pasti, menilai,
memantau dan mengurus pendedahan risiko utama yang
sememangnya lazim dalam operasi perniagaannya. Pada bulan
Januari 2008, Ketua Pengurusan Risiko baru telah dilantik
bagi menggalas tanggungjawab utama untuk membantu
Jawatankuasa Pengurusan Risiko Lembaga Pengarah (“RISCO”)
memantau dan menilai keberkesanan fungsi pengurusan risiko
bagi Kumpulan sebagaimana yang telah dipertanggungjawabkan
oleh Lembaga Pengarah.
The Board is committed in maintaining a sound system of
internal control and is therefore pleased to provide the following
statement on internal control of the Group during the period
under review.
Risk Management Framework
The Board acknowledges that 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. In January 2008,
a new Head of Risk Management was appointed with the
primary responsibility of assisting the Board Risk Management
Committee (“RISCO”) to monitor and evaluate the effectiveness
of the risk management function for the Group as entrusted by
the Board.
53
Inisiatif-inisiatif
berikut
telah
dilaksanakan
mempertingkatkan lagi ERM dalam Kumpulan:
•
•
•
•
untuk
Mempertingkatkan urus tadbir dan rangka kerja ERM dalam
bulan Jun 2008;
Melancarkan Program Kesedaran Pengurusan Risiko dalam
bulan Januari 2008;
Melaksanakan sistem dan laporan ERM dalam bulan Julai
2008; dan
Melancarkan Pelan Pengurusan Kesinambungan Perniagaan
dalam bulan Januari 2008.
To further enhance ERM within the Group, the following
initiatives have been undertaken:
•
•
•
•
Enhancement of the governance and ERM framework in
June 2008;
Initiation of Risk Management Awareness Programmes in
January 2008;
Implementation of ERM system and reporting in July 2008;
and
Initiation of Business Continuity Management Plan in
January 2008.
Fungsi Audit Dalaman
Internal Audit Function
Fungsi audit dalaman menggunapakai pendekatan berasaskan
risiko dalam kajiannya terhadap kawalan dalaman Kumpulan.
Ia melapor kepada Jawatankuasa Audit berhubung tahap
pematuhan terhadap keperluan penguatkuasaan dan syor-syor
bagi peningkatan turut dikemukan berkaitan penemuan yang
timbul daripada kajian tersebut. Pelaksanaan pelan tindakan
pengurusan yang berusaha untuk mengurangkan kelemahan
tersebut dipantau melalui kajian susulan.
The internal audit function adopts a risk-based approach
in its review of the Group’s internal controls. It reports to
the Audit Committee on the extent of compliance with the
relevant regulatory requirements and recommendations for
improvement are also provided on the findings arising from the
review. The implementation of management action plans which
seek to mitigate the weaknesses are monitored through follow
up reviews.
Jawatankuasa Audit turut membincangkan penemuan dan syorsyor yang dicadangkan oleh juruaudit dalaman dan luar serta
fungsi pematuhan. Jawatankuasa tersebut turut mengawasi
sumber dan skop kerja audit dalaman melalui pelan audit
tahunannya.
The Audit Committee deliberates on findings and
recommendations proposed by the internal and external
auditors as well as the compliance function. The Committee
also provide oversight on the internal audit’s resources and
scope of work via its annual audit plan.
Unsur-unsur kawalan dalaman utama
Key elements of internal control
Unsur-unsur utama kawalan dalaman yang diwujudkan oleh
Lembaga Pengarah bagi menyediakan kawalan dalaman yang
berkesan termasuk pematuhan terhadap undang-undang,
peraturan dan garis panduan adalah seperti berikut:
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:
•
•
54
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.
Organisational Structure
The Group has established a well-defined organisational
structure with clear lines of responsibility and accountability
with a defined delegation of authority to Committees of the
Board and Management.
•
Pemantauan dan Laporan Prestasi
Pasukan Pengurusan Kumpulan memantau dan mengkaji
keputusan kewangan dan operasi berdasarkan kepada
Petunjuk Prestasi Penting (“KPI”) atau Bidang Keputusan
Pentingan (“KRA”) yang dirumus sebelum setiap tahun
kewangan baru. Bagi syarikat subsidiari pula, Kumpulan
mempunyai sekurang-kurangnya seorang (1) wakil dalam
Lembaga Pengarah di setiap syarikat tersebut.
•
Performance Monitoring and Reporting
The Group’s management team monitors and reviews
financial and operational results based on the Key
Performance Indicators (“KPI”) or Key Results Areas (“KRA”)
that is established prior to each new financial year. As for
the subsidiary companies, the Group has representation
of at least one (1) member on the Board of respective
companies.
•
Had Kuasa
Had kuasa yang ditakrif dengan jelas telah diluluskan oleh
Lembaga Pengarah dan telah dilaksanakan dalam bidang
Pengunderaitan, kelulusan Tuntutan, Pelaburan dan prosesproses 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
processes.
•
Prosedur Operasi Piawai
Kumpulan kini sedang mengkaji Prosedur Operasi
Piawainya bagi memenuhi keperluan persekitaran
perniagaan yang berubah dan lebih berasaskan pelanggan.
Satu pasukan khusus telah dibentuk untuk mengawasi
pelaksanaan inisiatif tersebut di seluruh Kumpulan.
•
Standard Operating Procedures
The Group is currently reviewing its Standard Operating
Procedures towards meeting the needs of a changing
business environment which is more customer-oriented.
A dedicated team has been set-up to oversee the
implementation initiatives across the Group.
•
Fungsi pematuhan
Pengurus Pematuhan memantau pengeluaran keperluan
dan arahan penguatkuasaan. Semua keperluan/garis
panduan baru disampaikan kepada setiap pasukan
Pengurusan Kanan, Jawatankuasa Audit dan Lembaga
Pengarah.
•
Compliance function
The Compliance Manager monitors issuance of regulatory
requirements and directives. All new requirements/
guidelines are communicated to all Senior Management
team, Audit Committee and Board.
•
•
Pelan Perniagaan / Pemasaran dan proses Belanjawan
Pelan perniagaan dan pemasaran tahunan Kumpulan
dibentangkan kepada Lembaga Pengarah untuk kelulusan.
Business / Marketing Plan and Budgeting process
The Group’s annual business /marketing plan and budget
are submitted to the Board for approval.
•
•
Laporan Kewangan
Akaun/laporan pengurusan dibentangkan kepada Lembaga
Pengarah untuk dikaji dan dibincangkan. Penyebaran
laporan suku tahunan kepada orang ramai dilakukan
selepas ia dikaji oleh Jawatankuasa Audit dan diluluskan
oleh Lembaga Pengarah. Usaha berterusan turut disediakan
untuk menangani isu-isu kawalan kewangan atau risiko
yang meliputi pengukuhan penutupan kewangan dan
proses penyelarasan.
Financial Reporting
Management accounts/reports are tabled to the Board
for review and discussion. The public release of quarterly
reports is made after being 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.
55
•
Sistem Teknologi Maklumat
Kumpulan mengakui bahawa IT adalah amat penting
terhadap perniagaan dan ia telah memutuskan untuk
menggantikan sistem sedia ada untuk memenuhi keperluan
perniagaan semasa dan masa depan. Pelaksanaan sistem
tersebut dijalankan secara berfasa. Satu Jawatankuasa
Pemandu Projek telah ditugaskan untuk mengawasi
pelaksanaan dengan bantuan seorang perunding.
•
Information Technology System
The Group recognizes that IT is key to the business
and it has decided to replace the existing systems to
accommodate current and future business requirements.
The system implementation is carried out on phase to phase
basis. A Project Steering Committee is tasked to oversee the
implementation with the assistance of a consultant.
Conclusion
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 tahun
kewangan yang dikaji.
Penyata ini disediakan selaras dengan resolusi Lembaga
Pengarah bertarikh 20 Oktober 2008.
56
Despite control weaknesses identified at certain business
processes within the Group, there was no significant control
failure or weakness that has resulted in material loss that
requires disclosure in the Group’s annual report for the financial
year under review.
This statement is made in accordance with the Board of
Directors resolution dated 20 October 2008.
Balanced progress
57
Dengan Nama Allah Yang Maha Pemurah dan Maha Penyayang,
Assalamualaikum Warahmatullahi Wabarakatuh dan Salam Sejahtera kepada Para
Pemegang Saham,
Masa berlalu dengan begitu pantas dan tiba masanya sekali lagi untuk saya membentangkan Laporan Tahunan dan
Penyata Kewangan yang telah diaudit bagi tahun kewangan ke 23 yang berakhir pada 30 Jun 2008.
In the Name of Allah, the Most Compassionate, the Most Merciful,
Assalamualaikum Warahmatullahi Wabarakatuh and Dear Shareholders,
The year passed fairly quickly and it is that time again for me to present the Annual Report and Audited Financial
Statements for the 23rd financial year ended 30 June 2008.
5858
Syarikat
Syarikat
Takaful
Takaful
Malaysia
Malaysia
Berhad
Berhad
l Laporan
l Laporan
Tahunan
Tahunan
2008
2008
Annual
Annual
Report
Report
Penyata Pengerusi
Para Pemegang Saham Sekalian,
Dear Shareholders,
Sekali lagi, saya ingin membentangkan kepada anda sekalian
Laporan Tahunan dan Penyata Kewangan Beraudit bagi tahun
kewangan kedua puluh tiga berakhir pada 30 Jun 2008.
Once again, I come before you to present the Annual Report
and Audited Financial Statements for the 23rd financial year
ended 30 June 2008.
Tahun ini merupakan tahun yang mencabar dan menguntungkan
bagi Syarikat Takaful Malaysia Berhad, kerana seluruh
organisasi memfokuskan usahanya untuk membina asas ke
arah melahirkan sebuah syarikat yang lebih moden, teguh dan
cekap.
It has been a busy year full of challenges and rewards for
Syarikat Takaful Malaysia Berhad, as the entire organization
focused its efforts on laying the foundations for a modernized,
leaner and more efficient company.
Saya dengan sukacita ingin melaporkan bahawa kita telah
mencapai objektif yang ditetapkan di dalam laporan tahunan
yang lepas.
I am very pleased to report that we have achieved our objectives
laid out in our previous annual report.
Isu paling mendesak ialah kelemahan infrastruktur kita yang
telah mendorong kepada beberapa kelemahan dari segi operasi.
Saya amat berbesar hati ingin mengumumkan bahawa kita telah
berjaya memperbaiki keadaan tersebut untuk membolehkan
isu-isu seperti penyesuaian baki di dalam akaun boleh dikawal,
untuk membolehkan syarikat terus bergerak maju dengan
penuh yakin.
Selain itu, kita juga berada dalam peringkat akhir pelaksanaan
sistem Teknologi Maklumat (IT) baru iaitu PREMIA, yang
diumumkan pada tahun lepas. Sistem baru ini bukan sahaja akan
memudahkan pihak pengurusan dan pemasaran produk kita
yang semakin berkembang, malah ia juga akan membolehkan
pembangunan produk dilakukan dengan lebih pantas dan
cekap, yang seterusnya memberi kita kelebihan daya saing.
Kami yakin bahawa PREMIA merupakan sistem yang canggih
dan serba boleh bagi memenuhi permintaan terhadap industri
perkhidmatan kewangan Islam yang berkembang dengan
pantas.
Akhir sekali, saya dengan sukacita melaporkan bahawa Takaful
Malaysia mempunyai kakitangan utama yang berwibawa.
Kekurangan kakitangan utama merupakan satu isu yang
membelenggu Syarikat ini pada masa lalu, tetapi kini kami
benar-benar bersedia untuk mengukuhkan Syarikat di atas asas
yang kami bina pada tahun lepas.
Kini, kami memandang ke hadapan untuk memupuk kemajuan
ini bagi memastikan transformasi Takaful Malaysia kekal di atas
landasan yang tepat dan pada masa yang sama mengatasi setiap
cabaran pada tahun-tahun akan datang. Pada masa yang sama,
kami akan terus mengukuhkan komitmen kami memajukan
industri kewangan Islam.
The most pressing issue was our infrastructural weaknesses that
led to a number of operational inefficiencies. I am delighted to
announce that we now have the situation well in hand so that
such issues as the reconciliation of balances in the accounts
are under control, enabling the company to move forward with
confidence.
Furthermore, we are in the final stages of implementing the new
Information Technology (IT) system, PREMIA, that had been
announced last year. This new system will not only facilitate
the management and marketing of our growing range of
products, but will also enable faster and more efficient product
development which will give us a competitive edge. We are
confident that PREMIA is sophisticated and versatile to meet
the demands of a rapidly evolving Islamic financial services
industry.
Finally, I am pleased to report that Takaful Malaysia has the full
complement of key staff members. The lack of key personnel
had been an issue plaguing the Company in the past but now,
with all hands on deck, we are well-poised to build on the
foundations we have painstakingly laid this past year.
Now, we look forward to nurturing this progress to ensure
that Takaful Malaysia’s transformation remains on track while
overcoming the inevitable challenges of the coming year. At the
same time, we will continue to strengthen our commitment to
growing the Islamic financial industry.
59
Penyata Pengerusi
TINJAUAN PRESTASI TAHUN INI
THE YEAR IN REVIEW
Tahun lepas menyaksikan ekonomi global mengalami keadaan
yang tidak menentu. Krisis yang dicetuskan oleh pinjaman
pajakan sub-prima di Amerika Syarikat (AS) telah mengejutkan
negara di seluruh dunia. Krisis sub-prima ini mendedahkan
kelemahan institusi kewangan AS yang disusuli oleh seluruh
sektor kewangan negara-negara membangun. Akibatnya,
ekonomi AS mengalami kemelesetan yang memberi kesan serius
terhadap ekonomi dunia, khususnya Eropah dan negara-negara
membangun. Tabung Kewangan Antarabangsa meramalkan
ekonomi dunia tumbuh pada kadar 3.7% bagi tahun 2008,
turun daripada 4.9% pada tahun 2007.
This past year has seen the global economy entering a period
of great uncertainty. The crisis triggered by sub-prime mortgage
lending in the United States (US) jolted economies around the
world. The sub-prime crisis revealed profound weaknesses in
the US financial institutions that have reverberated throughout
the financial sectors of the developed world. As a result, the US
economy has entered a recession, seriously affecting the global
economy, in particular, Europe and the emerging economies.
The International Monetary Fund forecasted a global growth of
just 3.7% for 2008, down from 4.9% in 2007.
Pada masa yang sama, peningkatan permintaan daripada
negara-negara membangun, khususnya China dan India, telah
melonjakkan harga komoditi. Seperti juga negara-negara lain,
Malaysia tidak terlepas daripada tekanan inflasi terhadap
ekonomi berikutan lonjakan tinggi harga bahan api dan
makanan.
At the same time, increasing demand from emerging economies,
in particular, China and India, have driven the prices of
commodities sky high. Record-breaking fuel and food prices
have placed incredible inflationary pressures on economies
throughout the world, not just Malaysia.
Faktor ini mengurangkan volum perdagangan dunia, yang
seterusnya menjejaskan industri insurans secara keseluruhan.
Ekonomi Malaysia pula telah berhadapan – dan terus
berhadapan – dengan tempoh ujian selepas Pilihan Raya Umum
pada 8 Mac 2008, berikutan perubahan persekitaran politik.
Pada masa yang sama, pertumbuhan ekonomi merosot secara
beransur-ansur disebabkan oleh peningkatan harga petroleum
yang mendorong inflasi. Oleh kerana perniagaan dan individu
turut terjejas oleh kemerosotan ini, kuasa membeli mereka
juga menjadi amat terhad mengakibatkan ramai yang tinggal
hanya dengan pendapatan saraan sahaja dan tiada lebihan
untuk pelaburan. Sekali lagi, keadaan ini akan mengecilkan
saiz pasaran industri insurans dalam negara, khususnya untuk
produk-produk baru di samping kemungkinan tuntutan yang
lebih tinggi.
Walaupun berhadapan dengan halangan di peringkat
antarabangsa dan di dalam negara, industri kewangan Islam
terus berkembang dan Malaysia berada pada landasan untuk
menjadi pusat kewangan Islam. Sehingga kini, industri ini
menjana aset berjumlah RM9.7 bilion dan kadar penembusan
7.2% , pertumbuhan tahunan purata aset dan sumbangan
masing-masing pada kadar 27% dan 19% dari tahun 2003
hingga 2007. Industri ini mempunyai lapan syarikat takaful dan
tiga pengendali takaful semula, dengan penyertaan luar negeri
dari UK, Jerman, Belgium, Jepun dan Emiriah Arab Bersatu
(UAE).
60
These factors have had the effect of decreasing world trade
volume, which in turn has had a detrimental impact on the
insurance industry as a whole.
Within Malaysia, the economy faced – and continues to face
– a period of testing after the General Elections on 8 March
2008, when the political landscape changed. At the same
time, economic development gradually stalled due to the
increase in petroleum prices which caused unprecedented
inflation. As businesses and individuals were equally affected
by the downturn, their spending power was severely curtailed
leaving many with a subsistence income and nothing to spare
for investment. Once again, this will leave the local insurance
industry with a significantly smaller market, especially for new
products, and greater potential for claims.
However, despite these international and domestic hurdles, the
Islamic financial industry continues to flourish and Malaysia
is on track towards becoming the centre of Islamic finance. To
date, the industry boasts total assets worth RM9.7 billion and
penetration rate of 7.2%, with an average annual growth rate in
assets and net contributions of 27% and 19% respectively, from
2003 to 2007. The industry boasts eight takaful operators and
three retakaful operators, with foreign participants from the UK,
Germany, Belgium, Japan and United Arab Emirates (UAE).
Penyata Pengerusi
Walaupun ini merupakan perkembangan sihat kepada
industri, khususnya dalam tempoh yang tidak menentu
ini, ia menampilkan persaingan yang semakin hebat untuk
Takaful Malaysia selain persaingan daripada syarikat insurans
konvensional. Sungguhpun memperlihatkan pertumbuhan
pesat dan mempunyai pasaran belum ditembusi yang sangat
luas, namun industri takaful masih kecil berbanding dengan
insurans konvensional. Untuk mencapai tahap kepentingan
yang lebih ketara dan menikmati penerimaan pasaran yang
lebih meluas, industri ini perlu berusaha dengan lebih gigih
untuk mendidik orang ramai dan mempertingkatkan kesedaran
mereka tentang takaful dan manfaatnya.
Takaful Malaysia sedang memperlengkapkan dirinya untuk
menghadapi persaingan ini dengan memperkukuhkan
pengurusan, mempertingkatkan komitmen kakitangan serta
mengambil pelbagai langkah proaktif dan inovatif dari segi
pembangunan produk dan juga kualiti perkhidmatan.
While these developments bode well for the health of the
industry, especially in these uncertain times, they present
Takaful Malaysia with increased competition in addition to the
competition posed by conventional insurers. However, despite
the rapid growth and the huge untapped market, the takaful
industry is still small relative to the conventional insurance
industry. In order to be of greater significance and enjoy wider
market acceptance, the industry will have to make more effort
to educate the public and increase their awareness of takaful
and its benefits.
Takaful Malaysia is in the process of girding itself to face this
competition squarely by strengthening management, boosting
staff commitment, and taking proactive and innovative steps in
terms of product development and service quality.
NURTURING PROGRESS
MEMUPUK KEMAJUAN
Pada tahun sebelumnya, Takaful Malaysia telah meletakkan
asasnya untuk mencapai pertumbuhan masa depan. Pada tahun
ini, kami memfokus untuk memupuk pertumbuhan.
Strategi kami sentiasa memberi penekanan untuk menawarkan
produk yang menyediakan daya tarikan yang luas. Sepertimana
yang saya sebut sebelum ini, sistem IT baru kami yang
menyeluruh telah mengukuhkan keupayaan pengurusan,
pemasaran dan pembangunan produk kami. Kami juga telah
menyalurkan ke dalam Syarikat tenaga, bakat dan wawasan
baru ke dalam semua jawatan penting. Inisiatif strategik saling
melengkapi ini penting untuk memastikan pertumbuhan
berterusan kami kerana kami mengutamakan penciptaan
inovasi, pembangunan produk dan perkhidmatan baru yang
relevan bagi memenuhi permintaan pasaran yang semakin
pelbagai dan canggih.
Strategi pertumbuhan kami juga memerlukan kami menghadapi
risiko secara berani sama ada dengan menanganinya atau
merebut peluang yang tersedia. Sehubungan itu, kami telah
mengukuhkan keupayaan pengurusan risiko kami dengan
melaksanakan pengurusan risiko perniagaan (ERM). Ini
merupakan satu langkah tepat kerana banyak organisasi
kompleks beralih kepada ERM untuk memahami dan
menangani spektrum risiko yang luas. ERM menyatukan konsep
perancangan strategik, pengurusan operasi dan kawalan
dalaman.
The previous year saw Takaful Malaysia laying the foundations
for future growth. This year, we focused on nurturing this
growth.
Our strategy has always been to offer products that have wide
appeal. As I mentioned earlier, our new comprehensive IT system
has strengthened our management, marketing and product
development capabilities. We have also infused the Company
with new blood, talent and vision in all the key positions. These
complementary strategic initiatives are critical to our continued
growth as our priority is to innovate, developing new, relevant
products and services that address the increasingly varied and
sophisticated demands of the market.
Our growth strategy also requires us to face risk squarely either
by managing it or seizing the opportunities it presents. To this
end, we have strengthened our risk management capabilities
by implementing Enterprise Risk Management (ERM). This is
a timely move as many complex organizations are turning to
ERM to understand and manage the broad spectrum of risks.
ERM integrates concepts of strategic planning, operations
management and internal control.
61
Penyata Pengerusi
Pada tahun ini juga Takaful Malaysia melancarkan langkah
menepati saiz operasi kami. Langkah ini membolehkan kami
merasionalisasi rangkaian cawangan kami daripada 122
cawangan kepada 87 cawangan pada 30 September 2008.
Dengan berbuat demikian, kami turut menimbang kemampuan
setiap cawangan untuk berdikari dari segi kewangan. Pada
masa depan, kriteria yang lebih ketat akan dikenakan bagi
memastikan cawangan baru menjadi pusat keuntungan serta
duta berkesan jenama Takaful Malaysia.
This year also saw Takaful Malaysia embarking on an exercise
to right-size our operations. This exercise has enabled us to
rationalize our branch network from 122 branches to 87 as
at 30 September 2008. In doing so, we considered the ability
of each branch to be self-financing. In future, more stringent
criteria will be imposed to ensure that new branches are profit
centres as well as effective ambassadors of the Takaful Malaysia
brand.
Bahagian kedua strategi penentuan saiz tepat kami adalah untuk
memanfaatkan infrastruktur kumpulan BIMB Holdings bagi
menyediakan saluran kepada produk dan perkhidmatan kami.
Bagi memenuhi matlamat ini, kami akan mewujudkan kaunter
Takaful di cawangan Bank Islam dan Tabung Haji di seluruh
Malaysia. Ia merupakan satu pendekatan yang memanfaatkan
semua pihak terlibat kerana produk kami akan boleh diakses
kepada lebih ramai audiens, sementara Bank Islam dan Tabung
Haji pula akan mampu menawarkan pelbagai jenis produk.
Pelanggan kami, khususnya akan mendapat manfaat daripada
peningkatan akses produk Takaful Malaysia daripada lebih 200
saluran di seluruh Malaysia.
The second part of the right-sizing strategy is to leverage on
the BIMB Holdings’ group infrastructure to provide outlets for
our products and services. To this end, we will be establishing
Takaful counters in Bank Islam and Tabung Haji branches
throughout Malaysia. It is a win-win situation for all parties
concerned as our products will be accessible to a much wider
audience, while both Bank Islam and Tabung Haji will be able
to offer an expanded range of products. Most important of all,
our customers will benefit from the increased accessibility
of Takaful Malaysia products from more than 200 outlets
throughout Malaysia.
Kami juga telah menggerakkan inisiatif untuk memupuk
budaya akauntabiliti dalam Syarikat. Kami telah memulakan
penyemakan Prosedur Operasi Piawai (SOP) kami yang
digunakan untuk mengendali operasi dan risiko. SOP bukan
hanya akan menyediakan garis panduan operasi, malah rangka
kerja perlakuan untuk mempertingkatkan motivasi kakitangan
dan komitmen profesional.
We have also set in motion initiatives to inculcate a culture
of accountability in the Company. We have initiated a
revision of our Standard Operating Procedures (SOP) used in
managing operations and risks. The SOP will not only provide
operational guidelines for the entire organization but also a
framework of conduct to boost staff motivation and professional
commitment.
Jabatan Sumber Manusia kami amat proaktif sepanjang tahun
lepas. Kami telah mencapai puncak cabaran untuk mengekalkan
bakat kakitangan serta pada masa yang sama menarik bakat
baru ke dalam Syarikat.
Pada tahun lepas, ganjaran pengurus cawangan telah disemak
semula. Kami juga telah melancarkan kaji selidik struktur gaji
seluruh industri yang merupakan kajian ukur rujuk mengenai
aplikasi KPI kepada skim gaji. Kami berharap ia akan merintis
pengwujudan persekitaran kerja yang menggalakkan serta
memberi ganjaran berdasarkan prestasi serta kemajuan diri.
Secara keseluruhan, semua inisiatif ini memberi kesan positif
kepada semangat dan hasilnya kami mendapati komitmen di
semua peringkat telah meningkat lebih tinggi.
62
Our Human Resource Department has been extremely
proactive over the past year. We have risen to the perennial
challenges of retaining staff talent while attracting new talent
to the Company.
This past year has also seen a review of the remuneration for
branch managers. We have also embarked on an industry-wide
salary structure survey, which is a benchmark study on the
application of KPI to salary schemes. We hope this will lead to
a work environment that encourages and rewards performance
as well as self-improvement.
Overall, these initiatives have had a positive impact on morale
and we have seen greater commitment at all levels.
Penyata Pengerusi
TINJAUAN KEWANGAN KUMPULAN
PRESTASI KUMPULAN
GROUP FINANCIAL OVERVIEW
GROUP PERFORMANCE
Kumpulan terus mencatatkan pertumbuhan prestasi yang
menggalakkan pada tahun kewangan berakhir 30 Jun 2008.
Jumlah aset Kumpulan meningkat sebanyak 16% kepada RM4.0
bilion pada akhir tahun kewangan ini berbanding RM3.5 bilion
pada tahun sebelumnya. Pulangan atas Ekuiti Pemegang Saham
(PEPS) bersih berkurangan sedikit kepada 7.3% pada tahun
kewangan ini berbanding 7.6% pada tahun lepas.
The Group continued to register favourable growth in
performance for the financial year ended 30 June 2008. Total
assets of the Group increased by 16% to RM4.0 billion as at
the end of the financial year, compared to RM3.5 billion the
previous year. Return on Shareholders’ Equity (Net ROE) slightly
dropped to 7.3% financial year from 7.6% last year.
Pertumbuhan terbit daripada peningkatan hasil operasi sebanyak
6.1% kepada RM1,121.7 juta, berbanding RM1,057.0 juta
yang dicapai pada tahun kewangan sebelumnya. Peningkatan
pendapatan pelaburan sebanyak 18.1%, sebahagian besarnya
daripada Takaful Malaysia, mendorong peningkatan prestasi
keseluruhan pada tahun ini. Peningkatan dalam sumbangan
kasar yang disebabkan oleh penyusunan semula strategi pada
kelas perniagaan Takaful Keluarga yang tidak menguntungkan
oleh Takaful Malaysia, sementara syarikat subsidiarinya di
Indonesia, Syarikat Takaful Indonesia (Takaful Indonesia),
mencatatkan peningkatan dua kali ganda dalam sumbangan
kasar.
The growth emanated from the 6.1% increase in operating
revenue to RM1,121.7 million, compared to RM1,057.0 million
achieved in the last financial year. Increase in investment income
of 18.1%, largely from Takaful Malaysia, has contributed to
overall better profit performance this year. The improvement
in gross contribution resulted from the realignment of strategy
on non-profitable classes of Family Takaful by Takaful Malaysia,
while on the other hand its Indonesian subsidiary, Syarikat
Takaful Indonesia (Takaful Indonesia), experienced a two-fold
increase in gross contribution.
Berdasarkan perkara di atas, Keuntungan Sebelum Cukai (KSC)
bagi tahun kewangan berakhir 30 Jun 2008, meningkat dengan
ketara kepada RM33.8 juta berbanding RM21.6 juta pada
tahun kewangan sebelumnya. Ia dicapai walaupun peruntukan
sebanyak RM20.3 juta disediakan bagi kemerosotan nilai aset
yang dipegang untuk jualan berkaitan syarikat subsidiari yang
hendak dijual itu yang telah diambilkira dalam keputusan
kumpulan. Jika tidak dimasukkan peruntukan ini, KSC yang
dicapai mungkin berjumlah RM54.1 juta, dua kali ganda
daripada pencapaian pada tahun kewangan sebelumnya.
Prestasi menggalakkan yang dicapai melalui pindahan lebih
tinggi daripada perniagaan Takaful Am dan pendapatan operasi
lain yang lebih tinggi daripada yuran wakalah yang diperoleh
sebahagian besar oleh Takaful Indonesia. Ini membantu
membendung kesan perbelanjaan operasi lain yang lebih tinggi
sebanyak 45% (tidak termasuk peruntukan bagi kemerosotan
nilai aset yang disebut terdahulu). Namun, perbelanjaan
pengurusan telah dikurangkan sebanyak 2.2%.
Pemberhentian operasi daripada Asean Retakaful International
(L) Ltd (ARIL) yang sedang dalam proses penjualan menanggung
kerugian selepas cukai sebanyak RM0.94 juta. Ini merupakan
pengurangan prestasi daripada keuntungan selepas cukai
sebanyak RM5.84 juta pada tahun kewangan sebelumnya.
Arising from the above, Profit Before Taxation (PBT) for the
financial year ended 30 June 2008, significantly increased to
RM33.8 million compared to RM21.6 million in the previous
financial year. This was achieved in spite of a RM20.3 million
provision for impairment of asset held for sale made in respect
of the subsidiary to be disposed, which had been accounted
for in the group results. Excluding this provision, PBT would
have been RM54.1 million, doubling the achievement of the
previous financial year.
The favourable performance was achieved on the back of
higher transfer from General Takaful business and higher other
operating income from wakalah fees earned largely by Takaful
Indonesia. This helped to cushion the impact of higher other
operating expenses of 45% (excluding provision for impairment
of asset mentioned earlier). The management expenses however,
reduced slightly by 2.2%.
Discontinued operation from Asean Retakaful International
(L) Ltd (ARIL) which was in the process of disposal, incurred
a loss after tax of RM0.94 million. This was a reduction in
performance from profit after tax of RM5.84 million for the last
financial year.
63
Penyata Pengerusi
PRESTASI SYARIKAT
COMPANY PERFORMANCE
Pada tahun kewangan berakhir 30 Jun 2008, Takaful Malaysia
mencatatkan Hasil OperasisebanyakRM927.7 juta, meningkat
sedikit 1.6% berbanding pencapaian pada tahun sebelumnya.
Ini disebabkan terutamanya oleh penjajaran semula strategi
kelas perniagaan bukan Takaful Am yang tidak menguntungkan,
menyebabkan sumbangan kasar perniagaan Takaful Am susut
sebanyak 36.9% kerana persaingan yang bertambah hebat
daripada para pesaing takaful dan insurans konvensional.
For the financial year ended 30 June 2008, Takaful Malaysia
recorded an Operating Revenue of RM927.7million, a slight
improvement of 1.6% compared to the previous financial year.
This mainly resulted from the realignment of strategy on nonprofitable classes of General Takaful business, resulting in gross
contribution from the General Takaful business declining by
36.9% amidst a more intense competition from both takaful
and conventional insurance players.
Sementara itu, Takaful Keluarga mencatatkan pertumbuhan
sebanyak 12.6%, disebabkan terutamanya produk berkaitan
pelaburan (ILP) yang baru dilancarkan, Takaful myAl-Afdhal
yang menyumbang RM90.2 juta pendapatan. Sebagai ILP
pertama Takaful Malaysia, dana ini memberikan keceriaan
kepada sumbangan kasar produk berprestasi tinggi yang lembab
kerana tumpuan lebih luas akan diberikan untuk menyatu dan
mengukuh kedudukan jangka panjang kami yang melibatkan
penyemakan semula campuran produk kami, pembinaan
infrastruktur dan penyusunan semula proses perniagaan.
Aktiviti pelaburan Takaful Malaysia menunjukkan peningkatan
ketara berbanding pada tahun kewangan sebelumnya.
Berikutan peruntukan aset strategik dan taktikal bertambah baik
yang diamalkan pada tahun ini, jumlah pendapatan pelaburan
Kumpulan Wang Pemegang Saham melonjak 117.0% kepada
RM13.5 juta. Secara keseluruhan, hasil pelaburan bersih tumbuh
sebanyak 123 mata berbanding pada tahun sebelumnya.
Ini membantu mengurangkan keseluruhan kekurangan hasil
operasi yang dialami. Di antara kumpulan wang seperti Keluarga,
Am dan Pemegang Saham, peningkatan ketara dalam pendapatan
pelaburan boleh dilihat daripada tiga kelas aset utama, iaitu
ekuiti, bon Islam dan hartanah. Portfolio ekuiti mencatatkan
peningkatan ketara, merekodkan pertambahan pendapatan
pelaburan bersih sebanyak 86% kepada RM38.9 juta, daripada
RM20.9 juta mengikut perbandingan dari tahun ke tahun,
di mana pulangan direalisasi meningkat 19.6% berbanding
dengan 10.3% pada tahun sebelumnya. Pada masa yang sama,
pendapatan bersih daripada bon Islam meningkat 23% kepada
RM74.3 juta, mencatatkan hasil pelaburan 6.8%. Ia merupakan
peningkatan sebanyak 38 mata asas berbanding pada tahun
kewangan sebelumnya. Pendapatan daripada hartanah meningkat
sekali ganda berbanding pada tahun kewangan sebelumnya,
disebabkan oleh pasaran hartanah yang menggalakkan,
membolehkan pertambahan sekali ganda nilai pasaran yang
diiktiraf sebagai pendapatan di bawah perakaunan saksama. Ini
menggambarkan pertambahan pulangan keseluruhan ke atas
hartanah pelaburan kepada 11.0% berbanding 4.8% mengikut
perbandingan dari tahun ke tahun.
64
On the other hand, the Family Takaful business recorded a
growth of 12.6%, mainly attributed to the newly launched
Investment-Linked Product (ILP), Takaful myAl-Afdhal which
accounted for RM90.2 million in contribution income. As
Takaful Malaysia’s first ILP, the fund provided the cheer in an
overall subdued top-line performance in gross contribution,
as more focus was put on consolidating and strengthening our
longer term position with respect to reviewing our product mix,
infrastructure building and business process re-engineering.
The investment activities of Takaful Malaysia have shown
significant improvement as compared to the last financial
year. As a result of improved strategic and tactical asset
allocation adopted during the year, total investment income
for Shareholders’ Fund grew by 117.0% to RM13.5 million.
Overall net investment yield increased by 123 points compared
to the previous year.
This helped to mitigate the overall shortfall in operating revenue.
Across all funds, i.e. Family, General and Shareholders’ Fund,
the significant improvement in investment income can be seen
from three major asset classes, i.e. equity, Islamic bonds and
property. The equity portfolio recorded a marked improvement,
registering an increase in net investment income of 86% to
RM38.9 million from RM20.9 million year-on-year, where the
realized return rose 19.6% compared to 10.3% in the previous
year. Similarly, net income from Islamic bonds rose 23% to
RM74.3 million, registering an investment yield of 6.8%, an
improvement by 38 basis points as compared to the last financial
year. Income from property doubled from the previous financial
year, driven by an encouraging property market, enabling the
increase in market value to be recognized as income under
fair value accounting. This translated into an increase in overall
return on investment properties to 11.0% from 4.8% year-onyear.
Penyata Pengerusi
Keuntungan Sebelum Cukai (KSC) Takaful Malaysia melonjak
kepada RM42.6 juta, mencatatkan pertumbuhan ketara 197%
atau RM28.2 juta berbanding RM14.4 juta yang dicapai
pada tahun kewangan sebelumnya. Pertambahan KSC adalah
disebabkan terutamanya oleh pendapatan pelaburan daripada
Dana Pemegang Saham yang meningkat lebih 100% daripada
pencapaian tahun lepas, pindahan lebih tinggi daripada Dana
Takaful Am serta yuran wakalah baru daipada Dana Keluarga.
Bagi perbelanjaan pula, lain-lain perbelanjaan operasi telah
meningkat 23.6% berikutan penurunan nilai pelaburan ARIL
berjumlah RM8.5 juta. Jika tidak dimasukkan peruntukan ini,
KSC daripada operasi biasa yang dicatatkan adalah berjumlah
RM51.1 juta, paling tinggi pernah dicatat dalam sejarah
Takaful Malaysia.
Selaras dengan penjajaran semula strategi untuk memindahkan
kelas tidak menguntungkan, perniagaan Takaful Am mencatatkan
prestasi menggalakkan pada tahun kewangan ini. Di samping
itu, beberapa langkah yang diambil untuk mempertingkatkan
tahap produktiviti dan kecekapan operasi telah mengakibatkan
pengurangan 40.1% dalam perbelanjaan tuntutan bersih
yang ditanggung dan 70.6% bagi perbelanjaan hutang lapuk.
Selain itu, peningkatan 45.4% pendapatan pelaburan bersih
menyumbangkan pertambahan dalam pindahan kepada
Dana Pemegang Saham sebanyak 56% kepada RM59.9 juta
berbanding RM38.4 juta pada tahun lepas.
Profit Before Taxation (PBT) of Takaful Malaysia surged to
RM42.6 million, registering a significant growth of 197% or
RM28.2 million against RM14.4 million achieved in the previous
financial year. The increase in PBT was mainly attributed to
investment income from Shareholders’ Fund which is more
than 100% increase than that of last year, higher transfer from
the General Takaful Fund as well as new wakalah fees from
the Family Fund. On the expense side, management expenses
were contained at the previous year’s level. The other operating
expenses increased by 23.6% as a result of the diminution in
value of investment in aril of RM8.5 million. Excluding this
provision, PBT from normal operations would have recorded
RM51.1 million, the highest ever in the history of Takaful
Malaysia.
In tandem with the realignment strategy to move out of nonprofitable classes, the General Takaful business performed
favourably during the financial year. Furthermore, measures
taken to improve productivity and operational efficiency had
resulted in lower net claims incurred and bad debt expense
by 40.1% and 70.6% respectively. In addition, a 45.4% higher
net investment income contributed to the higher transfer to
Shareholders’ Funds by 56% to RM59.9 million from RM38.4
million last year.
Bahagian keuntungan peserta Takaful Am pada tahun ini
juga melaporkan pertambahan ketara dengan mencatatkan
keuntungan berjumlah RM35.8 juta berbanding kerugian
RM16.2 juta pada tahun lepas. Pemulihan ini membolehkan
Takaful Malaysia membayar mudharabah kepada para peserta
layak, mulai bulan April 2007.
General Takaful participants’ share of profit for the year also
reported a significant increase, registering RM35.8 million from
a loss of RM16.2 million last year. This turnaround had enabled
Takaful Malaysia to pay mudharabah to eligible participants,
beginning April 2007.
Perniagaan Takaful Keluarga mampu dikekalkan pada paras yang
hampir sama pada tahun sebelumnya, dengan mencatatkan
pengurangan kecil sebanyak 5.0% dalam pindahan kepada
Dana Pemegang Saham.
The Family Takaful business was maintained at about the same
level as the previous year, recording a decrease of 5.0% in
transfers to Shareholders’ Fund.
MAKLUMAT OPERASI
OPERATIONAL HIGHLIGHTS
Kejayaan pelancaran produk berkaitan pelaburan pertama
kami, Takaful myAl-Afdhal menyumbang sebanyak RM90.2
juta kepada pertumbuhan top-line Takaful Malaysia, dalam
tempoh hanya 45 hari sahaja. Sambutan menggalakkan ini
menunjukkan pelabur awam yakin dan percaya terhadap
produk pelaburan lindung modal Takaful Malaysia yang
menawarkan potensi lebih tinggi nilainya di mana ia disertakan
dengan perlindungan Takaful.
The successful launch of our first Investment-Linked Product,
Takaful myAl-Afdhal had contributed RM90.2 million to the
top-line growth of Takaful Malaysia, within just 45 days. This
encouraging response indicated the level of confidence and
trust shown by the investing public towards Takaful Malaysia’s
capital protected investment product that offers upside potential,
with embedded Takaful protection.
Kami mencatat satu lagi pencapaian penting dalam pelaksanaan
sistem teras kami berikutan kejayaan pelancaran Sistem Takaful
We achieved another major milestone in our core system
implementation with the successful launch of the new PREMIA
65
Penyata Pengerusi
PREMIA yang baru untuk perniagaan Takaful Am pada bulan
Disember 2007. Bagi Takaful Keluarga pula, PREMIA telah
bersedia sejak pelancaran Takaful myAl-Afdhal lagi. Ia turut
menyediakan MRTA baru untuk kakitangan kerajaan, iaitu
Pelan Takaful Keluarga Kumpulan yang dipertingkatkan serta
Takaful Ma’asyi Kumpulan yang disemak semula.
Takaful System for General Takaful business in December 2007.
For Family Takaful, PREMIA was ready at the onset of Takaful
myAl-Afdhal’s launch. It also caters for the new MRTA scheme
for government servants, the enhanced Group Family Takaful
Plan and the revised Group Takaful Ma’asyi.
Di samping langkah penyatuan cawangan yang memanfaatkan
sinergi Kumpulan BIMB, usaha pemasaran kami termasuk
peningkatan model Bancatakaful dengan Bank Islam serta
penambahbaikan saluran jualan dan pengedaran kami
untuk rangkaian agensi korporat dan runcit. Kami juga telah
menambahbaik penyampaian perkhidmatan pelanggan serta
melaksanakan pelbagai program pengukuhan nilai pelanggan.
Semua strategi ini melengkapi strategi pemasaran berstruktur
serta mengaktifkan semula pembayaran mudharabah, selaras
dengan tahap keuntungan yang lebih baik. Antara peningkatan
proses operasi yang telah menyumbang kepada penyampaian
perkhidmatan yang bertambah baik adalah pemusatan
pengunderaitan dan pengeluaran sijil serta pencarian sumber
luar percetakan sijil untuk Takaful Am.
In addition to the branch consolidation exercise which includes
leveraging on the BIMB Group synergy, our marketing efforts
included the enhancement of Bancatakaful model with
Bank Islam and the refinement of our sales and distribution
channels for both corporate agency network and retail. We
also improved customer service delivery and implemented
customer enrichment programs. These strategies complemented
the structured marketing strategy as well as the re-activation of
mudharabah payment, in line with better profitability. Among
the enhancement of operational processes that contributed to
improved service delivery were centralization of underwriting
and certificates issuance as well as outsourcing of certificates
printing for General Takaful.
Kumpulan Syarikat Takaful Malaysia sedang menjalani
penyusunan semula berikutan cadangan penjualan pelaburan
penyertaan ekuiti dalam Asean Retakaful International (L) Ltd
(ARIL). Penjualan pelaburan ARIL ini adalah selaras dengan
orientasi semula penampilan imej Takaful Malaysia untuk
memfokus kepada perniagaan Takaful secara langsung dan
penglibatan ke dalam perniagaan Retakaful melalui sebuah
syarikat subsidiari secara strategik sebenarnya adalah tidak
berkesan. Kini, cadangan tersebut adalah dalam peringkat
rundingan dengan para pembeli potensi dan jangka waktu
penyelesaiannya adalah tertakluk kepada kelulusan para
pemegang saham ARIL dan pihak berkuasa. Pengumuman
sewajarnya kepada Bursa Malaysia akan dilakukan selepas
menandatangani perjanjian jual beli.
Syarikat Takaful Malaysia Group is undergoing a restructuring,
with the proposed divestment of its equity participation in
Asean Retakaful International (L) Ltd (ARIL). The divestment
of ARIL is in line with the reorientation of Takaful Malaysia’s
positioning to focus on direct Takaful business and the fact
that involvement in Retakaful business via a subsidiary is not
strategically effective. The proposal is currently at negotiation
stage with potential buyers, and the timeline for completion is
subject to ARIL’s shareholders’ and regulatory approvals. The
appropriate announcement to Bursa Malaysia will be made in
due course upon signing of the sale and purchase agreement.
TINJAUAN SYARIKAT SUBSIDIARI – KUMPULAN SYARIKAT
TAKAFUL INDONESIA
REVIEW OF SUBSIDIARY – SYARIKAT TAKAFUL INDONESIA
GROUP
Walaupun dilanda pergolakan di pasaran Indonesia pada
tahun lepas, namun ekonomi kekal cergas bagi keseluruhan
tahun 2007. Pertumbuhan ekonomi 6.30% berjaya dicapai
dan walaupun kadar inflasi melambung kepada 6.59%, namun
kadar pertukaran Rupiah kekal mantap pada akhir tahun 2007
iaitu pada kadar IDR9,419 berbanding US$1.
Despite some turbulence in the Indonesian market last year,
the economy remained buoyant for the whole of 2007. The
economic growth was recorded at 6.30% and although the
inflation rate soared to 6.59%, the exchange rate of Rupiah
remained steady at the end of 2007 at IDR9,419 against US$1.
Walau bagaimanapun, peralihan ketara pergerakan ekonomi
berlaku pada tempoh setengah tahun pertama 2008 apabila
kerajaan memutuskan untuk menaikkan harga minyak selaras
dengan kenaikan harga minyak global. Ini menyebabkan
pertumbuhan ekonomi Indonesia susut sebanyak 0.4% selepas
itu, sementara kadar inflasi meningkat kepada 7.4%.
However, the first half of 2008 saw some dramatic shifts in the
economy when the government decided to increase the oil price
in line with the global price hike. The Indonesian economic
growth subsequently declined by 0.4% while the inflation rate
increased to 7.4%.
66
Penyata Pengerusi
Sungguhpun dilanda keadaan ekonomi tidak menentu, industri
insurans Syariah terus kekal berdaya saing. Takaful Indonesia,
yang merupakan kumpulan insurans Syariah terbesar juga
kekal mantap walaupun berhadapan dengan keadaan pasaran
yang sentiasa mencabar. Pada akhir Jun 2008, Takaful Indonesia
mampu merekodkan hasil mengkagumkan sebanyak IDR459.87
bilion, peningkatan sebanyak 46.7% berbanding IDR313.41
bilion yang dicapai pada tahun sebelumnya.
Despite the economic uncertainty, the Shariah insurance
industry continued to remain competitive. Takaful Indonesia,
being the biggest Shariah insurance group, also remained
resilient in the face of an ever-challenging market. At the end of
June 2008, Takaful Indonesia was able to record an impressive
revenue of IDR459.87 billion, an increase of 46.7% from
IDR313.41 billion in revenue recorded the previous year.
PertumbuhanTakaful Indonesia juga disebabkan oleh keteguhan
prestasi dua syarikat subsidiarinya, PT Asuransi Takaful Keluarga
(ATK), yang terlibat dalam perniagaan Takaful Keluarga dan PT
Asuransi Takaful Umum (ATU), yang terlibat dalam perniagaan
Takaful Am. Sumbangan kasar ATK meningkat dengan ketara
iaitu 54.3% pada tahun ini, mencatatkan hasil sebanyak
IDR312.65 bilion pada tahun ini berbanding IDR202.63 bilion
pada tahun lepas. Sementara itu, ATU mencatatkan peningkatan
hasil sebanyak 38.8%, daripada IDR81.13 bilion pada tahun
2007 kepada IDR112.60 bilion pada tahun 2008. Pendapatan
pelaburan juga menurun sebanyak 2.4% kepada IDR35.68
bilion berbanding IDR1.07 bilion sebelumnya.
The growth of Takaful Indonesia is also attributed to the strong
performances of its two subsidiary companies, PT Asuransi
Takaful Keluarga (ATK), which is involved in Family Takaful,
and PT Asuransi Takaful Umum (ATU), which is involved in
General Takaful business. ATK’s gross contribution increased
significantly by 54.3% this year, recording IDR312.65 billion
in revenue as compared to IDR202.63 billion last year.
Meanwhile, ATU recorded an increase of 38.8% in revenue,
from IDR81.13 billion in 2007 to IDR112.60 billion in 2008.
Investment income decreased by 2.4% to IDR1.04 billion
compared to IDR1.07 billion previously.
Pencapaian ini berjaya dicatatkan hasil beberapa langkah
yang diambil oleh Takaful Indonesia, iaitu strategi yang saling
melengkapi pembangunan pasaran Syariah. Takaful Indonesia
menjalankan usaha berterusan dalam inovasi produk dan
sentiasa menyediakan perkhidmatan yang cemerlang bagi
memenuhi permintaan pelanggan yang semakin kompleks.
Dalam usahanya untuk meluaskan lagi bahagian pasaran,
syarikat kekal kreatif menawarkan pelbagai produk yang
mematuhi hukum Syariah dan menarik. Ini termasuk memberi
nafas baru kepada produknya yang bertaraf bintang seperti
Takaful Baituna, Takaful Abror, Takafulink dan pelbagai produk
lain yang mendapat sambutan baik.
These achievements are attributable to several measures taken
by Takaful Indonesia, namely the internal strategies which
complemented the development of the Shariah market. Takaful
Indonesia continuously engages in product innovation and
ceaselessly provides excellent services to meet the increased
complexity of customer demands. In its effort to capture
increased market share, the company remains creative
in offering products that are both Shariah-compliant and
attractive. These include revitalizing its existing star products
such as Takaful Baituna, Takaful Abror, Takafulink and other
well-received products.
Selain itu, Takaful Indonesia juga telah memasuki beberapa
saluran pengedaran alternatif untuk mencapai tahap liputan
pasaran dan pelanggan yang lebih luas. Ia meneruskan usaha
meluaskan rangkaian pasarannya dengan meningkatkan
bilangan ejen sementara pada masa yang sama, membangunkan
permuafakatan dengan beberapa rakan perniagaan lain
melalui penjenamaan bersama seperti bank, badan agama,
perkhidmatan pos milik negara, syarikat telekomunikasi dan
lain-lain.
In addition, Takaful Indonesia also ventured into alternative
distribution channels to cater to the wider market and customer
reach. It continued to expand market network by increasing
the number of agents while simultaneously developing
collaboration with other business partners through product cobranding such as banks, religious bodies, state-owned postal
service, telecommunication companies, etc.
Menyedari tentang kepentingan modal insan sebagai
aset syarikat yang terbesar dan paling penting,Takaful
Indonesia menjalankan latihan bersepadu dan intensif untuk
mempertingkatkan lagi tahap profesionalisma modal insannya.
Pasukan pemasaran khasnya, MDRT (Million Dollar Round
Table) telah dilatih mengenai cara-cara untuk mengendali
pelanggan potensi dan ini membolehkan ATK 2008 mencatatkan
Recognizing the importance of human capital as the biggest
and most important asset of the company, Takaful Indonesia
undertakes a series of integrated and intensive training to further
develop its human capital professionalism. A special marketing
team, the MDRT (Million Dollar Round Table) has been trained
on ways to handle potential customers and, as a result, in
2008 ATK registered two more new agents as members of the
67
Penyata Pengerusi
dua lagi ejen baru sebagai ahli Kelab MDRT, sebuah badan
yang diiktiraf di peringkat antarabangsa, berasaskan kepada
pencapaian luarbiasa dalam sumbangan kasar.
Sumbangan Takaful Indonesia kepada pembangunan insurans
Syariah serta pertumbuhan keseluruhan industri insurans
Indonesia, telah mendapat perhatian. Prestasi cemerlangnya
mendapat pengiktirafan industri seperti yang digambarkan
melalui pelbagai anugerah Takaful Indonesia yang diterima
pada tahun 2008. Antara anugerah tersebut termasuk “Insurans
Syariah Terbaik” dengan aset berjumlah 50-100 bilion, bagi
ATK daripada Infobank Magazine, dua anugerah daripada
Karim Business Consulting, “Insurans Hayat Islam Paling Utama
Dalam Ingatan” bagi ATK dan “Insurans Am Islam Paling Utama
Dalam Ingatan” bagi ATU. Insurance Media turut memberikan
kami anugerah Insurans Hayat Ketiga Terbaik ATK dan Insurans
Am Kedua Terbaik ATU.
Sebagai langkah menuju ke hadapan, Takaful Indonesia telah
merancang beberapa inisiatif strategik untuk mempertingkatkan
lagi sinergi antara takaful keluarga dan am untuk menembusi
pasaran secara agresif. Sistem IT akan diseragamkan dan
dipertingkatkan dengan membangunkan sebuah sistem
teras baru yang akan selaras dengan peluasan perniagaan
masa depan Takaful Indonesia. Organisasi perniagaan akan
dipermudah supaya dapat menyokong program Pengurangan
Kos Perniagaan (ECR) syarikat. Kami yakin bahawa ini akan
melonjakkan kedudukan kami dalam usaha berterusan kami
mempelopori industri insurans Syariah di Indonesia.
MDRT Club, an internationally recognized body, based on their
outstanding achievement in gross contributions.
Takaful Indonesia’s contributions to the development of the
Shariah insurance and to the growth of the overall Indonesian
insurance industry as a whole, has certainly not gone unnoticed.
Its excellent performance was aptly recognized by the industry,
reflected by the many awards Takaful Indonesia received in
2008. Among the awards are “The Best Shariah Insurance” with
asset of 50-100 billion, for ATK from Infobank Magazine, two
awards from Karim Business Consulting, “Top of Mind Islamic
Life Insurance” for ATK and “Top of Mind Islamic General
Insurance” for ATU. Insurance Media also awarded ATK the 3rd
Best Life Insurance and ATU as the 2nd Best General Insurance.
Moving forward, Takaful Indonesia has planned strategic
initiatives to further boost the synergy between family and
general takaful in order to aggressively penetrate the market. The
IT systems will be standardized and enhanced by developing a
new core system, which will be in line with Takaful Indonesia’s
future business expansion. Business organization will be
simplified so as to support the company’s Enterprise Cost
Reduction (ECR) program. We are confident that this will bring
us to greater heights as we continue to lead the way in the
Shariah insurance industry in Indonesia.
Shariah ACTIVITIES
AKTIVITI Syariah
Tahun ini menampilkan perubahan ketara dalam pembangunan
produk yang melibatkan pelancaran produk baru, myAlAfdhal dan beberapa peningkatan ke atas produk sedia ada.
Pasukan kerja Syariah kami memainkan peranan penting dan
aktif bagi menyokong pelbagai aktiviti pembangunan produk
untuk menyemak pelbagai kontrak, perjanjian/Aqad serta
menyediakan khidmat nasihat dan rundingan. Sebagai penjaga
tabung Zakat, Tanggungjawab Sosial Korporat (CSR) kekal
sebagai fungsi utama pasukan Syariah kami.
The year witnessed a dramatic change in product development
with a new product launch, myAl-Afdhal and numerous
enhancements on existing products. Our Shariah team played a
crucial and active role in support of our product development
activities, in reviewing various contracts, agreements/Aqads and
provided Shariah advisory and consultation. As custodians of
our Zakat funds, Corporate Social Responsibility (CSR) remains
a primary function for our Shariah team.
TANGGUNGJAWAB SOSIAL KORPORAT (CSR)
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Sebagai sebuah syarikat berkaitan kerajaan (GLC), Takaful
Malaysia komited terhadap objektif tanggungjawab sosial
korporat (CSR) sepertimana yang digariskan dalam Buku Perak,
iaitu prinsip dan garis panduan yang akan dilaksanakan oleh
GLC supaya mereka boleh menyumbang secara proaktif kepada
masyarakat dan pada masa yang sama, menerbitkan nilai untuk
para pemegang saham mereka. Selaras dengan keperluan Buku
Perak, kami bertekad untuk menyumbang kepada masyarakat
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 society while still creating
value for their shareholders. In line with the Silver Book, we
endeavour to contribute to society in the most efficient and
68
Penyata Pengerusi
dengan cara yang paling cekap dan berkesan, sejajar dengan
norma industri dan amalan terbaik serta rangka kerja pihak
berkuasa berkaitan.
Takaful Malaysia adalah peserta aktif dalam program sekolah
rendah angkat PINTAR yang diterajui oleh Khazanah Malaysia,
melibatkan beberapa GLC. Di bawah program perintis PINTAR,
kami mengambil Sekolah Rendah Permatang Binjai di Kepala
Batas, Pulau Pinang sebagai sekolah angkat pada tahun 2007,
bagi menjalankan tanggungjawab menyediakan bantuan
kewangan dan pelbagai bantuan lain untuk mempertingkatkan
tahap prestasi akademik sekolah tersebut. Sehingga kini, Takaful
Malaysia telah menaja pembelian buku latihan untuk pelajar
Tahun 4, 5 dan 6. Kami turut menganjur sebuah program
motivasi untuk para pelajar tersebut dengan memfokus kepada
para pelajar yang menduduki peperiksaan UPSR. Secara
keseluruhan, program PINTAR yang melibatkan beberapa
sekolah rendah di Pulau Pinang telah menampilkan hasil yang
luarbiasa. Kami berharap akan dapat membina asas daripada
program pendidikan ini yang akan memanfaatkan pelajar
tersebut dalam jangkamasa panjang.
Sebagai sebuah syarikat pengendali takaful, kami menyumbang
kepada pelbagai organisasi kebajikan dan untuk pelbagai
amalan kebajikan daripada tabung zakat kami. Pada tahun
2008, kami menyumbang kepada beberapa rumah anak-anak
yatim terpilih di Wilayah Persekutuan Kuala Lumpur, Perak,
Selangor dan Terengganu serta menyumbang kepada pelajar
yang kurang bernasib baik di beberapa sekolah khusus. Pada
bulan Jun 2008,Takaful Malaysia menyumbang sejumlah RM19,
000 kepada 38 asnaf, di bawah naungan Mini Baitulmal, Hulu
Langat, Selangor di satu majlis pembayaran zakat.
Kami turut menghulurkan bantuan kepada mangsa banjir di
Johor dan Pahang. Keluarga di beberapa kampung yang terjejas
di Johor menerima RM500 setiap keluarga melalui tabung zakat
syarikat. Di Pahang, Takaful Malaysia menderma 600 kotak yang
berisi pelbagai keperluan asas, termasuk gula, beras, makanan
dalam tin dan lain-lain.
SUASANA MASA DEPAN
Takaful Malaysia bertekad untuk mendapatkan semula
kedudukan sebagai peneraju di pasaran insurans Islam pada
tahun kewangan akan datang. Sepanjang tempoh tiga hingga
empat bulan, kami merancang untuk mengubahsuai portfolio
produk kami dengan memperkenalkan beberapa produk
takaful baru termasuk pelan perubatan dan penyakit kritikal
baru, pelan pendidikan baru serta pelan takaful terma semakin
berkurangan. Di samping itu, selepas berjaya mendapatkan
kelulusan Bank Negara Malaysia bagi penubuhan Unit
Perniagaan Matawang Antarabangsa (ICBU), Syarikat akan
effective manner, in line with industry norms and best practices
as well as the relevant regulatory framework.
Takaful Malaysia is an active participant in the PINTAR primary
school adoption programme driven by Khazanah Malaysia,
involving GLCs. Under the PINTAR pilot programme, we
adopted Sekolah Rendah Permatang Binjai in Kepala Batas,
Pulau Pinang in 2007, undertaking to provide financial and
other forms of assistance to upgrade the school’s academic
performance. To date, Takaful Malaysia has sponsored the
purchase of exercise books for Year 4, 5, and 6 students. We
have also organized a motivational programme for the students,
focusing on those who are sitting for the UPSR examinations.
Overall, the PINTAR programme involving primary schools
in Penang has yielded some outstanding results. We hope to
be able to build on this educational foundation to benefit the
pupils of the school in the long term.
As a takaful operator, we contributed to charitable organizations
and causes from the zakat funds. In 2008, we contributed to
selected orphanages in Wilayah Persekutuan Kuala Lumpur,
Perak, Selangor and Terengganu as well as underprivileged
students at specific schools. In June 2008, Takaful Malaysia
contributed a total of RM19,000 to 38 “asnaf”, under the
patronage of Mini Baitulmal, Hulu Langat, Selangor during a
zakat payment ceremony.
We also provided assistance to flood victims in Johor and
Pahang. Families of the affected villages in Johor received
RM500 each from the company’s zakat funds. In Pahang,
Takaful Malaysia donated 600 boxes full of basic necessities
that include sugar, rice, canned food and others.
FUTURE OUTLOOK
Takaful Malaysia intends to recapture the leadership position
in the Islamic insurance market in the next financial year. Over
the next three to four months, we plan to revamp our product
portfolio by introducing new takaful products including new
medical and critical illness plans, a new educational plan and
a reducing term takaful plan. In addition, having obtained
Bank Negara Malaysia’s approval for the establishment of an
International Currency Business Unit (ICBU), the Company will
be exploring opportunities to introduce relevant products in
relation to ICBU.
69
Penyata Pengerusi
meneroka pelbagai peluang untuk memperkenalkan beberapa
produk berkaitan dengan ICBU.
Komitmen kami untuk meningkatkan taraf kualiti penyampaian
perkhidmatan kami akan memainkan peranan utama untuk
meluaskan pasaran kami. Sehubungan itu, pelaksanaan Sistem
Takaful PREMIA akan disiapkan pada tahun kewangan akan
datang yang akan menyaksikan perpindahan portfolio Takaful
Keluarga daripada sistem sedia ada. Langkah mencari sumber
infrastruktur IT di luar serta melaksana penyelesaian IT berkualiti
akan menambahbaik lagi tahap kecekapan dan adalah selaras
dengan matlamat kami ke arah mempertingkatkan lagi daya
tindak balas kami kepada semua keperluan pelanggan kami.
Kami juga sedang melancarkan langkah penjenamaan semula
untuk menampil semula Takaful Malaysia sebagai sebuah
pengendali takaful yang agresif dan berdaya saing dalam
industri perkhidmatan kewangan, namun tertumpu kepada
keperluan pelanggan. Penampilan semula baru ini akan
menggambarkan budaya kami yang lebih segar, bernafas baru
dan akan disebarkan melalui pengenalan sebuah identity
jenama baru yang lebih cergas.
Sebagai kesimpulan, saya ingin menegaskan sekali lagi tentang
komitmen kami. Takaful Malaysia akan terus meneroka pelbagai
cara untuk memupuk pertumbuhan dan kemajuannya untuk
manfaat para pemegang saham, pelanggan dan kakitangan.
Perkara penting yang harus dilaksanakan untuk mencapai
matlamat tersebut adalah dengan mengukuhkan asas modal
syarikat supaya kami dapat menjadi lebih berdaya saing di
peringkat domestik sambil pada masa yang sama, meluaskan
operasi kami di peringkat antarabangsa.
Our commitment to increasing the quality of our service delivery
will play a major role in expanding our market share. In this
regard, the on-going PREMIA Takaful System implementation
will be completed in the next financial year, culminating with
the migration of Family Takaful portfolio from the existing
system. The move to outsource the IT infrastructure as well as
implement quality IT solutions will further improve efficiency
and will go a long way towards enhancing our responsiveness
to all our customers’ needs.
We are also embarking on a re-branding exercise to reposition
Takaful Malaysia as an aggressive and competitive yet customercentric takaful operator within the financial services industry.
This new positioning will be reflective of our refreshed,
revitalized culture and will be communicated via a new, vibrant
brand identity.
In conclusion, I would like to reiterate our commitments.
Takaful Malaysia will continue to explore ways to nurture
its growth and progress for the benefit of its shareholders,
customers and employees. Key to this will be the strengthening
of the Company’s capital base in order to stay competitive
domestically while extending our operations internationally.
We are also focused on creating an environment that nurtures
win-win situations with related companies. By identifying
potentially symbiotic relations within the BIMB Holdings
Group, we hope to embark on “joint ventures” that will benefit
both parties.
Kami turut memberikan tumpuan untuk mewujudkan sebuah
persekitaran yang memupuk situasi menang-menang dengan
syarikat-syarikat berkaitan. Dengan mengenalpasti hubungan
simbiotik yang berpotensi dalam Kumpulan BIMB Holdings,
kami berharap untuk melancarkan beberapa “usahasama” yang
akan memanfaatkan kedua-dua pihak.
Takaful Malaysia is exploring the potential of forming strategic
alliances with international operators in order to reap the
benefits of their expertise and experience. We are very excited
about the possibilities of linkages with other Shariah-based
financial organizations.
Takaful Malaysia sedang meneroka potensi untuk menubuhkan
permuafakatan strategik dengan beberapa pengendali
antarabangsa supaya kami dapat menikmati manfaat kepakaran
dan pengalaman yang mereka miliki. Kami amat teruja dengan
pelbagai kemungkinan untuk mewujudkan rantaian dengan
pelbagai organisasi kewangan berasaskan Syariah yang lain.
Finally, we will continue to be mindful of our responsibilities as
one of Malaysia’s leading Takaful operators. We are committed
to establishing Kuala Lumpur as the centre for Islamic financing
and insurance.
Akhir sekali, kami akan terus memberi perhatian terhadap
tanggungjawab kami sebagai salah sebuah pengendali Takaful
terkemuka di Malaysia. Justeru, kami komited untuk menjadikan
Kuala Lumpur sebagai pusat bagi pembiayaan dan insurans Islam.
70
DIVIDEND
I am pleased to report that as approved by Bank Negara
Malaysia, the Directors declared an interim dividend of 3.5%
less tax totaling RM4,163,399 in respect of the financial year
Penyata Pengerusi
DIVIDEN
Saya berasa sukacita untuk melaporkan bahawa seperti
yang diluluskan oleh Bank Negara Malaysia, para Pengarah
mengisytiharkan dividen interim sebanyak 3.5% ditolak cukai
berjumlah RM4,184,818 berhubung tahun kewangan berakhir
30 Jun 2008 yang dibayar pada 27 Jun 2008. Seterusnya,
pada 20 Oktober 2008 Lembaga Pengarah telah meluluskan
cadangan dividen akhir ditolak cukai berjumlah RM4,184,818
yang tertakluk kepada kelulusan para pemegang saham.
Tiada dividen diisytihar dan dibayar pada tahun kewangan
sebelumnya berakhir 30 Jun 2007.
PENGHARGAAN
Saya bagi pihak Lembaga Pengarah, ingin merakamkan ucapan
penghargaan kepada Y.Bhg. Dato’ Noorazman b. A. Aziz yang
meletakkan jawatan daripada Lembaga Pengarah, dan kepada
dua orang pengarah yang bersara pada tahun kewangan ini
iaitu Y.DH Dato’ Sri Wan Abdul Wahid b. Wan Hassan dan
Y.Bhg. Dato’ Alwi b. Muhamad. Pada masa yang sama, saya
ingin mengalu-alukan kedatangan Y.Bhg. Dato’ Sulaiman b.
Mohd Yusof yang dilantik ke dalam Lembaga Pengarah pada
1 Januari 2008 dan Encik Johan b. Abdullah yang dilantik pada
15 Ogos 2008.
Saya juga ingin menyampaikan ucapan penghargaan dan
terima kasih kepada Kerajaan Persekutuan dan Kerajaan Negeri,
pelbagai Kementerian dan Jabatan, Jabatan Hal Ehwal Agama,
Kementerian Kewangan, Pejabat Ketua Pengarah Takaful, Bank
Negara Malaysia, Lembaga Perkhidmatan Kewangan Luar Pesisir
Labuan (LOFSA), badan-badan berkanun, Bank Islam Malaysia
Berhad, Lembaga Tabung Haji, Kumpulan Wang Simpanan
Pekerja, Bank Pembangunan Islam dan Kementerian Kewangan
Indonesia atas nasihat berguna serta kerjasama yang diberikan
sepanjang tempoh yang ditinjau. Ucapan terima kasih ini juga
ditujukan kepada para pemegang saham, peserta, pengurusan
dan kakitangan kerana kegigihan anda sekalian memberikan
sokongan dan komitmen yang tidak berbelah bahagi. Kami
berharap semoga hubungan erat yang kita jalin akan bertambah
kukuh lagi pada masa depan.
ended 30 June 2008 which was paid on 27 June 2008. The
Board has subsequently on 20 October 2008 approved a further
3.5% proprosed final dividend less tax totalling RM4,184,818.
which is subject to shareholders’ approval. No dividend was
declared and paid for the previous financial year ended 30 June
2007.
ACKNOWLEDGEMENTS
On behalf of the Board of Directors, I would like to record
my appreciation to Y.Bhg. Dato’ Noorazman b. A. Aziz who
resigned from the Board, and to the two directors who retired
during the financial year, namely Y.DH Dato’ Sri Wan Abdul
Wahid b. Wan Hassan and Y.Bhg. Dato’ Alwi b. Muhamad. I
would like to welcome Y.Bhg. Dato’ Sulaiman b. Mohd Yusof
and Encik Johan b. Abdullah who were appointed to the Board
on 1 January 2008 and 15 August 2008 respectively.
I would also like to express our appreciation and gratitude to
the Federal and State Governments, the various Ministries and
Departments, the Department of Religious Affairs, the Ministry
of Finance, the Office of the Director General of Takaful, Bank
Negara Malaysia, Labuan Offshore Financial Services Authority
(LOFSA), the various Statutory bodies, Bank Islam Malaysia
Berhad, Lembaga Tabung Haji, Employees Provident Fund,
Islamic Development Bank and the Indonesian Ministry of
Finance for their invaluable advise and cooperation rendered
throughout the period under review. To the shareholders,
participants, management and staff, thank you for your
unwavering support and commitment. We look forward to
further strengthening our relationships in the future.
TAN SRI DR. HADENAN B. A. JALIL
PENGERUSI/CHAIRMAN
Kuala Lumpur
Tarikh: 20 Oktober 2008
Dated : 20 October 2008
71
Ensuring fruits of one’s labour
72
74
79
80
Directors’ Report
Statement by Directors
Statutory Declaration
81
83
84
Independent Auditor’s Report
Report of the Shariah Advisory Body
Balance Sheets
85
86
87
Income Statements
Statements of Changes In Equity
Family Takaful Balance Sheet
88
90
91
Family Takaful Revenue Accounts
General Takaful Balance Sheet
General Takaful Revenue Accounts
93
95
Cash Flow Statements
Notes to the Financial Statements
Directors’ Report
for the financial year ended 30 June 2008
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for
the financial year ended 30 June 2008.
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 year.
Results
Net profit for the financial year Group
RM’000
Company
RM’000
24,638 31,041
Reserves and Provisions
There were no material transfers to or from reserves and provisions during the financial year under review.
Dividends
Since the end of the previous financial year, the Company paid an interim dividend of 3.5% less tax totalling RM 4,163,399 on
27 June 2008 in respect of the financial year ended 30 June 2008.
The final dividend recommended by the Directors in respect of the financial year ended 30 June 2008 is 3.5% less tax totalling
RM4,184,818.
Directors of the Company
Directors who served since the date of the last report are:-
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
(Appointed on 1 January 2008)
Encik Johan b. Abdullah (Appointed on 15 August 2008)
Y. Bhg. Dato’ Noorazman b. A. Aziz (Resigned on 1 January 2008)
Y. DH. Dato’ Sri Wan Abdul Wahid b. Wan Hassan (Retired on 25 November 2007)
Y. Bhg. Dato’ Alwi b. Muhamad (Retired on 30 November 2007)
In accordance with Section 62 of the Company’s Articles of Association, Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil and
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil will retire at the forthcoming Annual General Meeting and, being eligible, offer
themselves for re-election.
In accordance with Section 66A of the Company’s Articles of Association, Y. Bhg. Dato’ Sulaiman b. Mohd Yusof and
Encik Johan b. Abdullah retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.
74
Directors’ Report
Directors’ Interests
According to the register of directors’ shareholding, none of the directors in office at the end of the financial year held any interest
in the shares and options over shares of the Company or its related corporations during the financial year ended 30 June 2008.
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 year which had the object of enabling Directors of the Company
to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate, apart from
the Company’s and holding company’s Employees’ Share Option Scheme (“ESOS”).
Issue of Shares
During the financial year, the Company issued 5,274,000 ordinary shares of RM1 each for cash arising from the exercise of
employees’ shares options at a weighted average exercise price of RM1.20 per ordinary share.
The newly issued shares rank pari passu in all respects with the existing shares of the Company.
There were no other changes in the issued and paid-up capital of the Company during the financial year.
Options Granted Over Unissued shares
No options were granted to any person to take up unissued shares of the Company during the year.
At an extraordinary general meeting held on 28 June 2003, the Company’s shareholders approved the establishment of an employees’
share option scheme of not more than 10% of the issued share capital of the Company to eligible Directors and employees of the
Group, save for employees of companies which are dormant and which are not incorporated in Malaysia.
The options offered to take up unissued ordinary shares of RM1.00 each and the option prices are as follows:
Number of Options over Ordinary Shares of RM1 each
Option
Balance at
Balance at
Date of Offer
Price
1.7.2007
Granted
Exercised
Lapsed
30.6.2008
31.10.2003
RM1.20
8,156,000 -
(5,274,000)
(967,000)
1,915,000
The salient features of the scheme are as follows:
(i) Eligible employees are those who have been confirmed in writing as employees of the Group (save for any subsidiaries which
are dormant and which are not incorporated in Malaysia) for at least one year prior to the date of the offer.
(ii) The option is personal to the grantee and is non-assignable.
(iii) The option price shall be determined by the average of the middle market quotation of the Company’s ordinary shares as
shown in the daily official list issued by Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for the five trading days preceding
the respective dates of the offer in writing to the grantee or at the par value of the ordinary shares of the Company, whichever
is higher.
75
Directors’ Report
Options Granted Over Unissued shares (Continued)
(iv) The options granted may be exercised at any time within a period of five years from the date of offer of the option or such
shorter period as may be specifically stated in the offer upon giving notice in writing.
(v) The options granted may be exercised in full or in lesser number of ordinary shares provided that the number shall not be less
than 1,000 new shares and not more than ten per cent (10%) of the issued and paid up share capital of the Company at the
point in time when an offer is made.
(vi) The option scheme shall be in force for five years until 31 October 2008.
Statement on corporate governance and internal controls
(a) Board Responsibilities
The Board of Directors (“the Board”) is ultimately responsible for the proper stewardship of the Company’s resources, 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.
The Board comprises seven non-executive directors and one executive director to enable a balanced and objective 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
The Company has an organisational structure showing all reporting lines as well as clearly documented job descriptions 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
The Company has complied with BNM’s Guidelines on Related Party Transactions (JPIT/GPT 7) (Consolidated). Necessary
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 35 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.
The Board has put in place an enterprise-wide risk management framework within the Company to ensure that there is an
on-going process of identifying, evaluating, monitoring and managing the significant risks faced by the Company through
designated management functions. Currently, there are efforts to improve its risk management process in the areas of
operations, financial and other critical areas.
The group is currently undergoing an operational transformation process which involves changes in the Senior Management,
Information Technology systems, business process, etc. Therefore, appropriate actions are currently being undertaken to
improve on the policies, processes and organisational structures that forms key elements of internal controls.
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Directors’ Report
Statement on corporate governance and internal controls (Continued)
(e) Public Accountability
As custodian of public funds, the Company’s dealings with the public are always conducted fairly, honestly and
professionally.
(f) Financial Reporting
The Company has maintained proper accounting records and the Company’s financial statements are prepared in 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.
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, 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.
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 year 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 year.
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Directors’ Report
Other Statutory Information (Continued)
No 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 year 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 Company.
In the opinion of the Directors, the results of the operations of the Group and of the Company for the financial year ended
30 June 2008 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 year 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:
…………………………………………………………
Tan Sri Dr. Hadenan A. Jalil
…………………………………………………………
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
Date: 20 October 2008
78
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 84 to 159 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
30 June 2008 and of the results of their operations and cash flows for the year ended on that date.
Signed in accordance with a resolution of the Directors:
…………………………………………………………
Tan Sri Dr. Hadenan A. Jalil
…………………………………………………………
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
79
Statutory Declaration
pursuant to Section 169(16) of the Companies Act, 1965
I, Fauziah Md Hasan, 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 84 to 159 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 20 October 2008.
Before me:
80
………………………..…………...........
Fauziah Md Hasan
Independent Auditors’ Report
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 30 June
2008 of the Group and of the Company, and the income statements, 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 84 to 159.
Directors’ Responsibility for the Financial Statements
The Directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance
with Financial Reporting Standards and the Companies Act, 1965 in Malaysia. This responsibility includes: designing, implementing
and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
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 30 June 2008 and of their financial performance and cash flows for the year then ended.
81
Independent Auditors’ Report
to the members of Syarikat Takaful Malaysia Berhad
(Company No. 131646-K)
(Incorporated in Malaysia)
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.
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 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
Petaling Jaya, Selangor
82
....................................................................
Khaw Hock Hoe
Approval Number: 2229/04/10 (J)
Chartered Accountant
Report of the Shariah Advisory Body
We, Datuk Abdul Hamid b. Said and Mohd Bakir Haji Mansor, being two of the members of Shariah Advisory Body of Syarikat
Takaful Malaysia Berhad, do hereby confirm on behalf of the Body, that in our opinion, the operations of the Company for the year
ended 30 June 2008 have been conducted in conformity with Shariah requirements.
On behalf of the Shariah Advisory Body :
………….................................................................
Datuk Abdul Hamid b. Said
………….................................................................
Mohd Bakir Haji Mansor
Kuala Lumpur,
83
Balance Sheets
as at 30 June 2008
Group
Company
Note
2008
2007
2008
2007
(Restated)
(Restated)
RM’000
RM’000
RM’000
RM’000
ASSETS
Shareholders’ assets
Property and equipment
3
42,237 49,328 35,477 41,778
Prepaid lease payments
4
3,618 3,825 1,271 1,302
Investment properties
5
26,369 26,507 25,825 23,667
Investment in subsidiaries
6
-
-
27,550 27,002
Investment in associates
7
-
-
-
Investments
8
137,305 229,399 113,050 148,290
Financing receivables
9
12,702 15,474 12,003 14,748
Deferred tax assets
16
16,640 15,147 12,438 13,193
Qardh Hasan-receivables
10
80,861 -
80,861 Receivables
11
16,945 61,162 13,833 47,528
Assets held for sale
12
39,364 -
22,872 Cash and bank balances
13
9,743 15,896 8,297 13,000
Total Shareholders’ assets Total Family takaful assets (page 19)
Total General takaful assets (page 22)
Less : Interfund balances
385,784 3,100,760 592,282 (31,527)
416,738 2,581,396 552,864 (69,456)
353,477 2,917,475 544,801 (19,493)
330,508
2,475,727
527,900
(42,850)
TOTAL ASSETS
LIABILITIES
Shareholders’ liabilities
Liabilities held for sale
12
Payables
14
Provision for taxation
4,047,299 3,481,542 3,796,260 3,291,285
3,233 44,391 2,125 -
104,189 650 -
22,976 1,671 34,884
-
49,749 189,494 315,105 (31,527)
104,839 206,552 292,496 (69,456)
24,647 167,563 276,185 (19,493)
34,884
184,217
260,930
(42,850)
Family takaful fund
18
General takaful fund
19
522,821 2,911,266 277,177 534,431 2,374,844 260,368 448,902
2,749,912 268,616 437,181
2,291,510
266,970
TOTAL LIABILITIES
3,711,264 3,169,643 3,467,430 2,995,661
SHAREHOLDERS’ EQUITY
Share Capital
21
Reserves
161,576 142,789 156,302 117,893 161,576 167,254 156,302
139,322
Total equity attributable to
shareholders of the company
Minority interest
17
304,365 31,670 274,195 37,704 328,830 -
295,624
-
Total Equity
336,035 311,899 328,830 295,624
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
4,047,299 3,481,542 3,796,260 3,291,285
Total Shareholders’ liabilities
Total Family takaful liabilities (page 19)
Total General takaful liabilities (page 22)
Less : Interfund balances
The notes set out on pages 95 to 159 form an intergral part of, and should be read in conjunction with, these financial statements.
84
Income Statements
for the year ended 30 June 2008
Group
Company
Note
2008
2007
2008
2007
(Restated)
RM’000
RM’000
RM’000
RM’000
Operating revenue
23
1,121,650 1,056,950 927,694 913,022
Transfer from revenue accounts
Family takaful
General takaful
Investment income
24
Other operating income
25
Management expenses
26
Other operating expenses
27
108,162 61,451 17,472 53,687 (124,080)
(78,782)
120,109 49,815 14,791 7,813 (126,874)
(40,210)
90,416 59,932 13,510 15,022 (103,320)
(29,441)
95,189
38,404
6,226
4,591
(103,103)
(23,819)
Profit from operations
Finance costs
37,910 -
25,444 -
46,119 -
17,488
-
Profit before zakat and taxation
Zakat
Taxation
31
37,910 (4,050)
(9,222)
25,444 (3,818)
2,246 46,119 (3,460)
(11,618)
17,488
(3,127)
1,457
Profit for the year
24,638 23,872 31,041 15,818
Attributable to:
Shareholders of the Company
Minority interest
29,705 (5,067)
20,675 3,197 31,041 -
15,818
-
Profit for the year
24,638 23,872 31,041 15,818
Earnings per share
Basic earnings per share (sen)
Diluted earnings per share (sen)
32
Dividend per ordinary share (sen) - (net interim) 22
Dividend per ordinary share (sen) (net proposed final)
22
18.7
18.7
2.61
13.5
13.4
-
2.59
-
85
Statements of Changes in Equity
for the Year Ended 30 June 2008
Group
Note
Share
capital
RM’000
At 1 July 2006
as previously stated Prior year adjustment
40
152,643 -
2,063 -
152,643 Exchange differences
Net loss not recognised
in the income statements
Issue of shares - Cash Net profit for the year (restated)
Dividends 2006 – Final
22
At 1 July 2006 as restated
Non – distributable
Share Translation
premium
reserve
RM’000
RM’000
Distributable
Retained
Minority
profits
interest
RM’000
RM’000
Total
RM’000
957 -
130,255 (22,500)
36,947 -
322,865
(22,500)
2,063 957 107,755 36,947 300,365 -
-
(4,941)
-
(1,506)
(6,447)
-
3,659 -
-
-
732 -
-
(4,941)
-
-
-
-
-
20,675 (9,348)
(1,506)
-
3,197 (934)
(6,447)
4,391 23,872
(10,282)
At 30 June 2007
156,302 2,795 (3,984)
119,082 37,704 311,899
At 1 July 2007
As previously stated
156,302 2,795 (3,984)
142,515 37,704 335,332 40
-
-
-
(23,433)
-
(23,433)
156,302 2,795 (3,984)
119,082 37,704 311,899 Exchange differences
Net loss not recognised
in the income statements
Issue of shares - Cash
Net profit for the year
Dividends 2008 – Interim
22
-
-
(1,700)
-
(967)
(2,667)
-
5,274 -
-
-
1,054 -
-
(1,700)
-
-
-
-
-
29,705 (4,163)
(967)
-
(5,067) -
(2,667)
6,328
24,638
(4,163)
161,576 3,849 (5,684)
144,624 31,670 Prior year adjustments
As restated
At 30 June 2008
Company
Non - distributable
Share
Share
capital
premium
RM’000
RM’000
At 1 July 2006 Issue of shares Net profit for the year
Dividends 2006 - Final
22
152,643 3,659 -
-
At 30 June 2007/1 July 2007
Issue of shares Net profit for the year
Dividends 2008 - Interim
22
At 30 June 2008
Distributable
Retained
profits
RM’000
Total
RM’000
2,063 732 -
-
130,057 -
15,818 (9,348)
284,763
4,391
15,818
(9,348)
156,302 2,795 136,527 295,624
5,274 -
-
1,054 -
-
-
31,041 (4,163)
6,328
31,041
(4,163)
161,576 3,849 163,405 328,830
86
336,035
Family Takaful Balance Sheet
as at 30 June 2008
Group
Note
2008
2007
(Restated)
RM’000
RM’000
Assets
Investment in associates
Investment-linked Takaful assets
Investments
Receivables
Cash and bank balances
RM’000
RM’000
261 219,552 -
-
175,459 2,466,908 19,695 111,969 106,916 7,977 200,053 -
-
37,682 2,155,266 6,053 120,488 53,877 261 211,453 -
-
130,840 2,388,516 3,073 87,927 95,405 1,645
199,446
29,963
37,682
2,078,458
3,789
82,001
42,743
3,100,760 2,581,396 2,917,475 2,475,727
14
15
34
129,538 49,547 10,409 116,793 85,190 4,569 114,441 42,713 10,409 110,668
68,980
4,569
189,494 206,552 167,563 184,217
2,911,266 2,374,844 2,749,912 2,291,510
3,100,760 2,581,396 2,917,475 2,475,727
Total family takaful liabilities
Participants’ fund
Family takaful fund
2007
3
5
6
7
34
8
9
11
13
Total family takaful assets
Liabilities
Payables
Provision for outstanding claims
Investment-linked Takaful liabilities
Company
2008
18
Total family takaful liabilities
and participants’ fund
87
Note
2008
RM’000
2007
RM’000
Gross contributions
Retakaful
Increase in actuarial reserves 647,033 (16,324)
(53,458)
558,574 (10,933)
(114,604)
529,689 (4,612)
(52,385)
470,205
(3,223)
(113,535)
23
18
Group
Company
2008
2007
RM’000
RM’000
Net contributions
Benefits paid and payable
Death/disability
Maturities
Surrenders
Part withdrawal
Medical
Others 577,251 433,037 472,692 353,447
(124,906)
(19,099)
(105,419)
(14,254)
(11,898)
13,157 (141,586)
(29,872)
(104,216)
(12,812)
(6,008)
(9,687)
(119,069)
(10,863)
(91,618)
(14,254)
(196)
7,240 (120,716)
(21,517)
(94,331)
(12,812)
(144)
(9,687)
(262,419)
(304,181)
(228,760)
(259,207)
314,832 128,856 243,932 94,240
Underwriting profit
- Individual Family
- Group Family and others
- Group Family ILB Less: Underwriting profit
- Individual Family
210,550 103,506 776 314,832 102,926 25,652 278 128,856 174,533 68,623 776 243,932 89,558
4,404
278
94,240
(210,550)
(102,926)
(174,533)
(89,558)
Underwriting profit
- Group Family and others &
Group Family ILB
Investment income
24
25
27
104,282 172,466 13,912 (19,364)
25,930 116,050 16,179 (21,703)
69,399 161,875 13,112 1,197 4,682
109,859
16,260
(14,541)
Total profit for the year after excluding
underwriting profit for Individual Family
271,296 136,456 245,583 116,260
88
Note
2008
RM’000
Group
2007
RM’000
Company
2008
2007
RM’000
RM’000
Total profit for the year after excluding
underwriting profit for Individual Family
Less: Allocation of special reserves
271,296 (5,116)
136,456 (4,250)
245,583 (5,116)
116,260
(4,250)
266,180 132,206 240,467 112,010
Profit attributable to the Company and
participants for the year after
excluding underwriting profit for
Individual Family
Profit attributable to education plan
transferred to payables
Profit attributable to the Company
transferred to income statement
(53)
(55)
(53)
(55)
(108,162)
(120,109)
(90,416)
(95,189)
Profit payable to participants
157,965 -
12,042 (10,556)
149,998 -
16,766
(10,556)
Profit attributable to the participants for the year:
157,965 1,486 149,998 6,210
2,351,411 23,433 2,121,092 22,500
2,291,510 -
2,070,549
-
As restated
Underwriting profit – individual family Profit attributable to participants for the year
Movement for the year:
- Actuarial reserves
- Interfund
- Unrealised gain/(loss) in value of investment
- Qardh Hasan
Special reserve
Translation reserves
2,374,844 210,550 157,965 2,143,592 102,926 1,486 2,291,510 174,533 149,998 2,070,549
89,558
6,210
53,458 29,963 (4,491)
94,280 5,116 (10,419)
114,604 -
7,383 (431)
4,275 1,009 52,385 -
(4,491)
80,861 5,116 -
113,535
7,383
4,275
-
Family takaful fund at year end
2,911,266 2,374,844 2,749,912 2,291,510
Family takaful funds at the
beginning of the year (As previously reported)
Prior year adjustments 40
89
General Takaful Balance Sheet
as at 30 June 2008
Group
Company
Note
2008
2007
2008
2007
(Restated)
(Restated)
RM’000
RM’000
RM’000
RM’000
Assets
Investments
Receivables
3
5
6
8
9
11
13
6
43,052 -
425,104 2,024 81,819 40,277 7
40,376 -
414,809 2,700 70,234 24,738 6
43,052 -
400,956 2,024 63,900 34,863 7
40,149
1,970
396,999
2,700
63,492
22,583
Total general takaful assets
592,282 552,864 544,801 527,900
Liabilities
Payables
129,507 185,598 128,202 164,294 121,752 154,433 123,257
137,673
Total general takaful liabilities
315,105 292,496 276,185 260,930
Participants’ fund
277,177 260,368 268,616 266,970
592,282 552,864 544,801 527,900
14
15
19
Total general takaful liabilities
and participants’ fund
90
Note
Group
Gross contributions
23
Retakaful
Fire
Marine
Aviation & Transit
2008
2007
RM’000 RM’000
2007
RM’000
Motor
2008
2007
RM’000 RM’000
73,238 124,938 (19,827) (57,458)
82,548 107,604 (3,044)
(1,225)
11,004 (7,804)
31,384 (16,570)
87,645 (35,715)
82,444 254,435 346,370
(12,331) (66,390) (87,584)
79,504 106,379 3,200 14,814 51,930 70,113 188,045 258,786
2008
RM’000
Miscellaneous
2008
2007
RM’000 RM’000
Total
2008
2007
RM’000 RM’000
Net contributions
Decrease/(Increase)
in unearned
contribution reserves
53,411
67,480 20
2,997 (9,058)
1,915 (7,567)
1,491 180 6,114 Earned contributions
Net claims incurred
33
56,408 (14,794)
58,422 (40,858)
81,419 (62,830)
98,812 (54,012)
4,691 (2,124)
14,994 (15,864)
58,044 (25,245)
67,004 200,562 239,232
(56,534) (104,993) (167,268)
Underwriting surplus 41,614
17,564 18,589 44,800 2,567 (870)
32,799 10,470 95,569
71,964
Investment income
24
25
Other operating expenses 27
Total profit for the year
Transfer to income statement 30,244 14,792 (46,283)
21,165
9,664
(79,880)
94,322 (61,451)
22,913
(49,815)
32,871 (19,754)
(26,902)
(18,609)
13,117 (45,511)
27,522
73,033
40,639
27,522
194,320
23,061
206,837
23,061
16,893
2,264
-
2,920
28
277,177
260,368
(3,109)
Participants’ share of profit/(loss) Profit payable to participants
Profit/(Loss) attributable to
participants for the year
Profit attributable to
participants at
beginning of the year
participants at the
end of the year
Unearned contribution
reserves 20
Special reserves
Statutory liabilities
- Qardh Hasan
Translation differences
Interfund balance
General Takaful fund
at end of the year
12,517 (19,554)
91
Note
2008
RM’000
Company
Gross contributions
23
Retakaful
57,130 102,457 (13,783) (41,819)
63,521 (2,359)
94,424 (852)
5,096 (6,511)
27,267 (15,367)
67,625 (29,871)
82,472 193,372 306,620
(22,968) (52,524) (81,006)
Net contributions
Decrease/(Increase) in
unearned contribution
reserves
20
43,347 61,162 93,572 (1,415)
11,900 37,754 59,504 140,848 225,614
3,135 (7,093)
2,835 (7,962)
1,455 1,677 7,362 Earned contributions
Net claims incurred
33
46,482 (10,564)
53,545 (28,772)
63,997 (51,688)
85,610 (44,158)
40 2,197 13,577 (11,128)
45,116 (19,016)
Underwriting surplus 35,918 24,773 12,309 41,452 2,237 2,449 26,100 Fire
2007
RM’000
60,638 Motor
2008
2007
RM’000 RM’000
Marine
Aviation & Transit
2008
2007
RM’000 RM’000
Miscellaneous
2008
2007
RM’000 RM’000
(3,161)
Total
2008
2007
RM’000 RM’000
14,787 8,359 Investment income
24
25
Other operating expenses 27
Total profit for the year
Transfer to income statement Participants’ share of profit/(loss)
Profit/(Loss) attributable to
participants for the year
Profit attributable to participants
at beginning of the year
participants at
end of the year
Unearned contribution
reserves
20 Special reserves
at end of the year
76,564 77,033
29,248 13,106 (23,102)
20,112
4,186
(79,139)
95,816 (59,932)
22,192
(38,404)
35,884 (19,451)
(16,212)
(17,739)
16,433 (33,951)
46,960 80,911
63,393 46,960
182,162 196,949
23,061 23,061
268,616 266,970
92
(16,539)
56,343 155,635 209,075
(47,984) (79,071) (132,042)
Cash flows from operating activities
Adjustments for:
Depreciation and amortisation of prepaid lease payment:
- Shareholders’ Fund
- Family Takaful Fund
- General Takaful Fund
Fair value change of investment properties
Income from financing receivables
Income from Investment Accounts,
Islamic Accepted Bills and Bonds
Dividend income from quoted shares and
Islamic Debt Securities
Gain on disposal of quoted shares and unit trusts
Gain on disposal of property and equipment
and investment properties
Gain on foreign exchange
Prior year adjustments
Write off of investment and equipment
(Accretion)/Amortization Unrealised loss/(gain) of investment
(Reversal of)/allowance for
diminution in value of investments
Impairment loss of investment in a subsidiary
Profit from Malaysian Government Investment
Certificates Allowance for non-performing financing:
Operating loss before working capital changes
Group
Company
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
37,910 25,444 46,119 17,488
17,602 54 1
(15,689)
(864)
18,005 486 2,110 (8,159)
(2,216)
16,188
55 1
(15,685)
(479)
15,756
73
2
(8,566)
(1,740)
(41,271)
(41,745)
(36,269)
(36,862)
(94,944)
(57,675)
(81,653)
(4,356)
(93,520)
(51,323)
(74,754)
(2,163)
(111)
(2,045)
-
4,617 (2,416)
4,491 -
(5,719)
4,216 4,166 (13,085)
(7,383)
(26)
-
-
4,614 (2,416)
4,491 4,216
6,639
(13,085)
(7,383)
(3,272)
(1,798) (2,110)
20,308 (2,474)
(5,474)
(1,368)
-
(3,189)
(1,799)
(2,110)
8,513 (2,474)
(5,474)
(1,368)
-
(206)
-
(206)
-
(248)
(982)
(822)
(760)
74 450 (248)
(982)
(822)
(760)
74
450
(139,470)
(119,441)
(129,093)
(109,931)
93
Group
Company
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
536,422 16,809 (337,222)
199,581 (27,995)
(212,200)
458,402 1,646 (314,357)
189,290
(15,290)
(183,039)
41,477 94,944 41,745 81,653 36,475 93,520 36,862
74,754
(71,764)
(51,767)
119,134 22,344 (13,947)
(50,316)
106,634
3,757
Zakat paid
Income taxes paid
89,429 (3,361)
(2,796)
104,821 (3,509)
(6,771)
82,330 (2,820)
(2,500)
103,037
(2,547)
(6,256)
Net cash generated from operating activities
83,272 94,541 77,010 94,234
Cash flows from investing activities
Purchase of property and equipment
Purchase of investment properties
Proceeds from sale of investment properties
Proceeds from sale of property and equipment
(15,652)
(247)
1,244 177 (17,027)
(4,289)
2,472 -
(14,635)
(34)
-
171 (15,341)
(3,155)
12
Net cash used in investing activities
(14,478)
(18,844)
(14,498)
(18,484)
Increase in Family Takaful Fund
Increase/(Decrease) in General Takaful Fund
Increase in investments
Income from Investment Accounts,
Islamic Accepted Bills and Bonds
Dividend income
(Decrease)/Increase in payables
(including claim admitted but not paid)
(Increase)/Decrease in other receivables
Cash flows from financing activities
Proceeds from issuance of shares
Dividends paid to shareholders
of the Company
Dividend paid to minority shareholders
6,328 4,391 6,328 4,391
(4,163)
-
(9,348)
(934)
(4,163)
-
(9,348)
-
Net cash generated from/(used in)
financing activities
2,165 (5,891)
2,165 (4,957)
70,959 69,806 64,677 70,793
96,362 26,556 80,177 9,384
167,321 96,362 144,854 80,177
Net increase in cash and cash equivalents
Cash and cash equivalents at
the beginning of financial year
Cash and cash equivalents at
the end of financial year
Cash and cash equivalents comprise:
- Shareholders’ fund (Note 13)
9,743
15,896 8,297 13,000
- Family Takaful fund (Note 13)
106,916 53,877 95,405 42,743
- Investment - Linked Business (Note 34) 9,933 1,851 6,289 1,851
- General Takaful fund (Note 13)
40,277 24,738 34,863 22,583
- Assets held for sale (Note 12)
452 -
-
167,321 96,362 144,854 The notes set out on pages 95 to 159 form an intergral part of, and should be read in conjunction with, these financial statements.
94
80,177
Syarikat Takaful Malaysia Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on
the Main Board 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, Annexe Block
50000 Kuala Lumpur
The consolidated financial statements of the Company as at and for the year ended 30 June 2008 comprise the Company and its
subsidiaries (together referred to as the Group). The financial statements of the Company as at and for the year ended 30 June 2008
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
The immediate and ultimate holding company is BIMB Holdings Berhad, a company incorporated in Malaysia and listed on the
Bursa Malaysia Securities Berhad.
The financial statements were approved by the Board of Directors on 20 October 2008.
1. Basis of preparation
(a) Statement of compliance
The financial statements of the Group and of the Company have been prepared in accordance with the 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. The adoption of the new and revised FRSs in the current year does not have
any financial impact on the financial statements of the Group and of the Company other than reclassification of leasehold
land as prepaid lease payment pursuant to FRS 117. The effect of adopting FRS 117 is set out on Note 4. These financial
statements also comply with the applicable disclosure provisions of the Listing Requirements of the Bursa Malaysia
Securities Berhad.
The MASB announced that FRS 139, Financial Instruments: Recognition and Measurement will be effective for annual
periods beginning on or after 1 January 2010, hence the Group and the Company plan to adopt FRS 139 for the financial
year ending 30 June 2011. The impact of applying 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 FRS 139.103AB.
The following revised FRS which are effective for the financial years beginning on or after 1 July 2007, have been adopted
by the Group in the 2008 financial statements:
FRS 107 Cash Flow Statements
FRS 112 Income Taxes
FRS 118 Revenue
FRS 121 The Effect of Changes in Foreign Exchange Rates
FRS 134 Interim Financial Reporting
FRS 137 Provisions, Contingent Liabilities and Contingent Assets
95
1. Basis of preparation (Continued)
(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.
(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 judgments 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 (n) & 2 (o) & Note 18 – Provision for outstanding 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.
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).
96
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.
(b) Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated to the respective functional currencies of 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 of each Group entity at the exchange rate at that date. Non-monetary assets and liabilities
denominated in foreign currencies that are measured in terms of historical cost in a foreign currency are retranslated
to the functional currency at the exchange rate at the date of the transactions. Foreign currency differences arising on
retranslation are recognised in the income statement / revenue account.
(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 on acquisition, 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 foreign operations are translated
to RM at exchange rates at the dates of the transactions. Foreign exchange differences arising on translation are
recognised directly in equity.
On disposal, accumulated translation differences are recognised in the consolidated income statement as part of the
gain or loss on sale.
97
(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.
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 net within “other income” or “other
operating expenses” respectively in the income statement/revenue account.
(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 revenue account / income statement as
incurred.
(iii) Depreciation
Depreciation is recognised in the revenue account / income statement on a straight-line basis over the estimated
useful lives of each part of an item of property and equipment. Freehold land is not depreciated. Leasehold land is
depreciated in equal installments over the period of the respective leases which range from sixty to ninety-nine year
while building are depreciated on a straight line basis over the shorter of 50 years or the lease period. Property 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
2%
Renovation
16.70%
Furniture, fixtures and fittings 16.7% - 20%
Motor vehicles 20%
Computer and equipment 16.7% - 33.3%
98
The depreciable amount is determined after deducting the residual value.
Depreciation methods, residual values and useful lives are reassessed at the balance sheet date.
(c) Property and equipment (continued)
(iv) Leased Assets
Finance lease
Leases in terms of which the Group assumes 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.
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.
Operating lease
Other leases are operating leases and, except for property interest held under operating lease, the leased assets are
not recognised on the Group’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.
(d) 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 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 account/income statement.
•
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.
99
(d) Investments (continued)
•
All other unquoted investments are stated at the lower of cost or net realisable value.
•
Investments in quoted shares and securities of investment-linked businesses are stated at the closing market prices.
•
Unquoted loan stocks / bonds of the investment-linked funds are stated at the prevailing prices quoted by independent
merchant banks. Any increase or decrease in value of these investments is taken into the investment-linked business
revenue account.
Allowance for diminution in value of investments are charged directly to the revenue account of the takaful funds and
to the income statement. Subsequent increase in market value of the quoted investment is treated as a write back of the
previous allowance for diminution in value of investment to the extent of the carrying amount of the quoted investment
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 account / income statement.
(e) 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 statement / revenue accounts.
An external independent valuation company, having the appropriate recognised professional qualifications, values 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 statement / revenue accounts as appropriate.
(f) Financing receivables
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.
(g) Receivables
100
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.
(h) 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.
Gains are not recognised in excess of any cumulative impairment loss.
(i) 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.
(j) 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 statement / revenue account. 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 statement / revenue account in the year in which the reversal is recognised.
101
(k) 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.
(l) 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 no-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.
(m) 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.
(n) General takaful fund
The general takaful fund is maintained in accordance with the Takaful (Amendment) Act, 1984. 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.
102
General takaful;
Asean Takaful Group (ATG) retakaful pool; and
General retakaful funds.
(n) General takaful fund (continued)
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 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 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 account for the Group and 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.
(o) Family takaful fund
Included in family takaful fund is fund arising from:-
• Family takaful;
• Group family takaful; and
• Family retakaful funds.
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 return on the investments
and are distributable in accordance with the terms and conditions prescribed by the Group.
The surplus transferable from the family takaful fund to the income statement is based on the surplus determined by an
annual actuarial valuation of the long term liabilities to the participants.
103
(o) Family takaful fund (continued)
Contribution income
Contribution is recognised as soon as the amount of the contribution can be reliably measured. Initial contribution is
recognised 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.
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 account.
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 Contributions Reserve (UCR) of group family fund (except for Mortgage Reducing Term Takaful
(“MRTT” as detailed below) products) 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 year.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned
contributions is used, as follows:
(ii)
(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.
104
Net contribution valuation
The actuarial liabilities for MRTT products managed under group family fund and 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.
(o) Family takaful fund (continued)
Claims and settlement costs that are incurred during the financial year are recognised when a claimable event occurs
and/or the Group or the Company is notified.
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 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.
(p) 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.
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 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
remains 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.
(q) Zakat
This represents tithes payable by the Company to comply with the Principles of Shariah and as approved by the Shariah
Advisory Body.
(r) Management expenses
Management expenses are charged to shareholders’ fund.
105
(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 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 the 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 statement 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 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.
106
3
(a) Shareholders’ Fund
Renovation
Group
Freehold and building
Motor
Land
Buildings
in progress
vehicles
Cost
RM’000
RM’000
RM’000
RM’000
Office
equipment,
furniture,
fixtures and
fittings
RM’000
Total
RM’000
As restated at 1 July 2007
Additions
Disposals
Write off of assets
Reclassification/adjustment
Translation difference
1,841 -
-
-
-
-
-
9,176 266 -
-
-
(244)
129 11,342 217 -
-
(664)
-
-
2,539 10 (682)
-
(62)
-
(76)
77,655 15,071 -
(5,999)
(992)
107 (581)
102,553
15,564
(682)
(5,999)
(1,718)
(137)
(528)
At 30 June 2008
1,841 9,327 10,895 1,729 85,261 109,053
Accumulated depreciation
As restated at 1 July 2007
Charge for the year
Disposals
Write-off of assets
Reclassification/adjustment
-
-
-
-
-
-
-
1,689 420 -
-
-
-
(44)
436 -
-
-
(436)
-
-
1,394 242 (531)
-
(62)
(63)
(37)
49,706 16,909 -
(1,451)
(880)
(55)
(421)
53,225
17,571
(531)
(1,451)
(1,378)
(118)
(502)
At 30 June 2008
-
2,065 -
943 63,808 66,816
Net book value
At 30 June 2008
1,841 7,262 10,895 786 21,453 42,237
107
3
Property and equipment (Continued)
(a) Shareholders’ Fund (continued)
Office
equipment,
Renovation
furniture,
Group
Freehold
Leasehold and building
Motor fixtures and
Land
Buildings
Land
Buildings in progress
vehicles
fittings
Cost
RM’000
RM’000 RM’000
RM’000
RM’000
RM’000
RM’000
At 1 July 2006
5,183 8,972 223 1,393 3,818 2,196 75,679 Effect on adoption of
FRS 117 (Note 4)
(2,758)
(42)
(223)
(1,393)
-
-
-
As restated
- at 1 July 2006
2,425 8,930 -
-
3,818 Additions
-
454 -
-
6,178 Disposals
-
(49)
-
-
-
Write off of assets
-
-
-
-
-
Reclassification
-
-
-
-
1,390 Translation difference
(584)
(159)
-
-
(44)
As restated
- at 30 June 2007
1,841 9,176 -
-
11,342 Total
RM’000
97,464
(4,416)
2,196 652 (271)
-
-
(38)
75,679 8,152 (94)
(4,511)
(1,390)
(181)
93,048
15,436
(414)
(4,511)
(1,006)
2,539 77,655 102,553
Accumulated
depreciation
At 1 July 2006
-
1,435 31 374 371 1,152 33,697 37,060
Effect on adoption of FRS 117 (Note 4)
-
-
(31)
(374)
-
-
-
(405)
As restated
- at 1 July 2006
-
1,435 -
-
371 1,152 33,697 36,655
Charge for the year
-
719 -
-
89 501 16,787 18,096
Disposals
-
(152)
-
-
-
(257)
(5)
(414)
Reclassification
-
(277)
-
277 -
-
-
Effect on adoption of FRS 117 (Note 4)
-
-
-
(277)
-
-
-
(277)
-
(36)
-
-
(24)
(2)
(428)
(490)
Write-off of assets
-
-
-
-
-
-
(345)
(345)
At 30 June 2007
Net book value
As restated
- at 30 June 2007
1,841 7,487 -
-
10,906 1,145 27,949 49,328
108
-
1,689 Syarikat Takaful Malaysia Berhad l Laporan Tahunan 2008 Annual Report
-
-
436 1,394 49,706 53,225
3
Office
equipment,
Renovation
furniture,
Company
Freehold
Leasehold and building
Motor fixtures and
Land
Buildings
Land
Buildings in progress
vehicles
fittings
Cost
RM’000
RM’000 RM’000
RM’000
RM’000
RM’000
RM’000
Total
RM’000
As at 1 July 2007
Additions
Disposals
Write off of assets
Reclassification
1,841 -
-
-
-
4,179 -
-
-
-
-
-
-
-
-
-
-
-
-
-
10,678 217 -
-
-
1,386 -
(670)
-
-
68,370 14,332 -
(5,999)
-
86,454
14,549
(670)
(5,999)
-
At 30 June 2008
1,841 4,179 -
-
10,895 716 76,703 94,334
As at 1 July 2007
Charge for the year
Disposals
Write-off of assets
-
-
-
-
1,066 84 -
-
-
-
-
-
-
-
-
-
-
-
-
-
800 138 (525)
-
42,810 15,935 -
(1,451)
44,676
16,157
(525)
(1,451)
At 30 June 2008
-
1,150 -
-
-
413 57,294 58,857
Net book value
At 30 June 2008
1,841 3,029 -
-
10,895 303 19,409 35,477
Cost
At 1 July 2006
Effect on adoption of
FRS 117 (Note 4)
1,841 4,179 223 1,393 3,123 1,289 67,049 79,097
-
-
(223)
(1,393)
-
-
-
(1,616)
As restated
Additions
Disposals
Write off of assets
Reclassification
1,841 -
-
-
-
4,179 -
-
-
-
-
-
-
-
-
-
-
-
-
-
3,123 6,165 -
-
1,390 1,289 366 (269)
-
-
67,049 7,222 -
(4,511)
(1,390)
77,481
13,753
(269)
(4,511)
-
As restated
- at 30 June 2007
1,841 4,179 -
-
10,678 1,386 68,370 86,454
At 1 July 2006
Effect on adoption of
FRS 117 (Note 4)
-
860 31 374 -
853 27,718 29,836
-
-
(31)
(374)
-
-
-
(405)
As restated
Charge for the year
Disposals
Write-off of assets
-
-
-
-
860 206 -
-
-
-
-
-
-
-
-
-
-
-
-
-
853 204 (257)
-
27,718 15,437 -
(345)
29,431
15,847
(257)
(345)
At 30 June 2007
-
1,066 -
-
-
800 42,810 44,676
Net book value
As restated
- at 30 June 2007
1,841 3,113 -
-
10,678 586 25,560 41,778
109
3
(b) Family Takaful Fund
Office
equipment,
Renovation
furniture,
Group
Freehold
Leaseholdand building fixtures and
Land Buildings
Land Buildings in progress
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
At 1 July 2007
2,243 4,478 -
-
1,418 1,496 Transfer to investment
properties (Note 5)
(2,243)
(4,478)
-
-
-
-
Total
RM’000
9,635
(6,721)
As restated
Additions
Transfer to investment
properties (Note 5)
Write off of assets
-
-
-
-
-
-
-
-
1,418 -
1,496 88 2,914
88
-
-
-
-
-
-
-
-
(1,349)
(69)
-
-
(1,349)
(69)
At 30 June 2008
-
-
-
-
-
1,584 1,584
At 1 July 2007
Transfer to Investment
properties (Note 5)
-
389 -
-
-
1,269 1,658
-
(389)
-
-
-
-
(389)
As restated
Charge for the year
-
-
-
-
-
-
-
-
-
-
1,269 54 1,269
54
At 30 June 2008
-
-
-
-
-
1,323 1,323
Net book value
At 30 June 2008
-
-
-
-
-
261 261
110
3
(b) Family Takaful Fund (continued)
Office
equipment,
Renovation
furniture,
Group
Freehold
Land Buildings
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
At 1 July 2006
-
-
-
-
2
1,321 Additions
-
-
-
-
1,416 175 Transfer from
investment (Note 8)
2,321 4,638 -
-
-
-
(78)
(160)
-
-
-
-
At 30 June 2007
Total
RM’000
1,323
1,591
6,959
(238)
2,243 4,478 -
-
1,418 1,496 9,635
At 1 July 2006
Charge for the year
-
-
-
-
414
(25)
-
-
-
-
-
-
-
-
-
1,197
72
-
1,197
486
(25)
At 30 June 2007
-
389
-
-
-
1,269
1,658
Net book value
At 30 June 2007
2,243 4,089 -
-
1,418 227 7,977
Company
Cost
At 1 July 2007
Additions
Transfer to investment
properties (Note 5)
Write off of assets -
-
-
-
-
-
-
-
1,415 -
1,496 86 2,911
86
-
-
-
-
-
-
-
-
(1,349)
(66)
-
-
(1,349)
(66)
At 30 June 2008
-
-
-
-
-
1,582 1,582
At 1 July 2007
Charge for the year
-
-
-
-
-
-
-
-
-
-
1,266 55 1,266
55
At 30 June 2008
-
-
-
-
-
1,321 1,321
Net book value
At 30 June 2008
-
-
-
-
-
261 261
111
3
Office
equipment,
Renovation
furniture,
Company
Freehold
Land Buildings
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Total
RM’000
At 1 July 2006
Additions
-
-
-
-
-
-
-
-
2
1,413 1,321 175 1,323
1,588
At 30 June 2007
-
-
-
-
1,415 1,496 2,911
At 1 July 2006
Charge for the year
-
-
-
-
-
-
-
-
-
-
1,193 73 1,193
73
At 30 June 2007
-
-
-
-
-
1,266 1,266
Net book value
At 30 June 2007
-
-
-
-
1,415 230 1,645
112
3
(c) General Takaful Fund
Office
equipment,
Renovation
furniture,
Group
Freehold
Land Buildings
fittings
Cost
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
At 1 July 2007
-
-
-
-
582 4,908 Write off of assets
-
-
-
-
(582)
(4,351)
At 30 June 2008
Total
RM’000
5,490
(4,933)
-
-
-
-
-
557 557
At 1 July 2007
Charge for the year
Write off of assets
-
-
-
-
-
-
-
-
-
-
-
-
582 -
(582)
4,901 1
(4,351)
5,483
1
(4,933)
At 30 June 2008
-
-
-
-
-
551 551
Net book value
At 30 June 2008
-
-
-
-
-
6
6
-
-
-
-
582 4,908 5,490
At 1 July 2006/
At 30 June 2007
Charge for the year
-
-
-
-
-
-
-
-
146 436 3,227 1,674 3,373
2,110
At 30 June 2007
-
-
-
-
582 4,901 5,483
Net book value
At 30 June 2007
-
-
-
-
-
7
7
Cost
At 1 July 2006/
At 30 June 2007
113
3
(c) General Takaful Fund (continued)
Company
Freehold
Leasehold
Land
Buildings
Land
Buildings
Cost
RM’000
RM’000
RM’000
RM’000
Office
equipment,
furniture,
fixtures and
fittings
RM’000
Total
RM’000
At 1 July 2007/
At 30 June 2008
-
-
-
-
557 557
At 1 July 2007
Charge for the year
-
-
-
-
-
-
-
-
550 1
550
1
At 30 June 2008
-
-
-
-
551 551
Net book value
At 30 June 2008
-
-
-
-
6
6
Cost
At 1 July 2006/
At 30 June 2007
-
-
-
-
557
557
At 1 July 2006
Charge for the year
-
-
-
-
-
-
-
-
548 2
548
2
At 30 June 2007
-
-
-
-
550 550
Net book value
At 30 June 2007
-
-
-
-
7
7
114
4
Shareholder’s Fund
Cost
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
Total
RM’000
RM’000
At 1 July 2006
Effect of adopting FRS 117 (Note 3)
-
2,800 -
1,616 -
4,416 -
-
-
1,616 1,616
At 1 July 2006, as restated
Additions
2,800 -
1,616 -
4,416 -
-
-
1,616 -
1,616
-
At 30 June 2007/ 1 July 2007
2,800 (196)
1,616 -
4,416 (196)
-
-
1,616 -
1,616
-
At 30 June 2008
2,604 1,616 4,220 -
1,616 1,616
Amortisation
At 1 July 2006
-
-
-
405 -
405 -
-
-
405 405
At 1 July 2006, as restated
Amortisation for the year
-
-
277 405 (91)
-
405 (91)
277 -
-
-
405 (91)
-
405
(91)
-
At 30 June 2007/1 July 2007
Amortisation for the year
277 -
(20)
314 31 -
591 31 (20)
-
-
-
314 31 -
314
31
-
At 30 June 2008
257 345 602 -
345 345
Carrying amounts
At 1 July 2006
2,800 1,211 4,011 -
1,211 1,211
At 30 June 2007/ 1 July 2007
2,523 1,302 3,825 -
1,302 1,302
At 30 June 2008
2,347 1,271 3,618 -
1,271 1,271
115
5
Group
Shareholders’ Fund
2008
2007
RM’000
RM’000
Family Takaful
2008
2007
RM’000
RM’000
General Takaful
2008
2007
RM’000
RM’000
At 1 July 2007/2006
Transfer from property and
equipment (Note 3)
Transfer to Family
Takaful Fund
Transfer from
Shareholders Fund
26,507 25,030 200,053 200,173 40,376 40,847
-
-
6,330 -
-
-
(1,933)
-
-
-
-
-
-
-
1,933 -
-
-
As restated, 1 July Additions
Disposal
Fair value gain/(loss)
for the year - net
equipment ( Note 3)
24,574 213 (518)
25,030 1,134 -
208,316 -
(424)
200,173 2,896 (2,472)
40,376 34 (216)
40,847
259
-
2,162 343 10,658 (544)
2,869 (730)
-
(62)
-
-
1,349
(347)
-
-
-
(11)
-
26,369 26,507 219,552 200,053 43,052 40,376
9,452 10,232 8,523 11,252 65,539 124,124 62,010 114,861 10,767 21,045 9,584
19,094
1,150 1,114 8,829 7,780 2,134 2,204
5,535 5,618 12,981 10,562 3,106 3,494
-
-
3,663 1,692 1,540 1,540
-
-
4,416 3,148 4,460 4,460
26,369 26,507 219,552 200,053 43,052 40,376
At 30 June 2008/2007
Comprising of:
Freehold land Freehold building
Leasehold land more
than 50 years
Leasehold building more
than 50 years
Leasehold land less
than 50 years
Leasehold building less
than 50 years
The following are amounts arising from investment properties that have been recognised in the income statement / revenue
accounts during the financial year. Rental income
116
2,263 Syarikat Takaful Malaysia Berhad l Laporan Tahunan 2008 Annual Report
2,710 16,454 15,689 2,941 3,119
5 Investment properties (Continued)
Company
2008
2007
RM’000
RM’000
Family Takaful
2008
2007
RM’000
RM’000
General Takaful
2008
2007
RM’000
RM’000
At 1 July 2007/2006
23,667 Additions
-
Fair value gain/(loss) for the year - net
2,158
equipment (Note 3)
-
23,737 -
(70)
199,446 -
10,658
197,079 2,896
(529)
40,149 34
2,869
39,815
259
75
-
1,349 -
-
-
25,825 23,667 211,453 199,446 43,052 40,149
9,452 9,688 8,523 8,412 65,539 121,303 62,010 114,311 10,767 21,045 9,584
19,095
1,150 1,114 8,829 7,780 2,134 2,204
5,535 5,618 12,981 12,562 3,106 3,426
-
-
1,692 1,692 1,540 1,540
-
-
1,109 1,091 4,460 4,300
25,825 23,667 211,453 199,446 43,052 40,149
At 30 June 2008/2007
Comprising of:
Freehold land Freehold building
Leasehold land more
than 50 years
Leasehold building more
than 50 years
Leasehold land less
than 50 years
Leasehold building less
than 50 years
The following are amounts arising from investment properties that have been recognised in the income statement/revenue
accounts during the financial year. Rental income
2,244 2,365 15,775 15,211 2,941 3,102
The Group’s properties were valued by independent firms of professional valuer, using the comparison, cost and investment
methods of valuation.
In the comparison method approach, the sales and listings of comparable properties recorded within nearby locations are
compiled. From the compiled data, adjustments are made 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.
117
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%.
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
2008
Unquoted shares, at cost
Transfer to Shareholders’ Fund (Interfund)
Reclassified as asset held for sale (Note 12)
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
27,002 31,933 (31,385)
29,963 (29,963)
-
1,970
(1,970)
-
27,550 -
-
2007
Unquoted shares, at cost
27,002 29,963 1,970
The principal activities of the subsidiaries, their country of incorporation and the interest of Syarikat Takaful Malaysia Berhad
are as follows:
Country of
Name of companies
Principal activities
incorporation
Asean Retakaful International
Family and general
(L) Ltd. (“ARIL”)**
retakaful business
Malaysia
P.T. Syarikat Takaful Indonesia*
and its subsidiaries
Investment holding
Indonesia
P.T. Asuransi Takaful Umum*
General takaful business
Indonesia
P.T. Asuransi Takaful Keluarga*
Family takaful business
Indonesia
* Not audited by KPMG Desa Megat & Co
** Audited by a firm affiliated with KPMG Desa Megat & Co
During the year, the investment in ARIL has been classified as asset held for sale (see Note 12).
118
Effective
interests
2008
2007
%
%
63.09
63.09
56
56
56
56
56
56
7
Investment in associate
8
Investments
Investment in associate company was fully written down during financial year ended 30 June 2007.
(a) Shareholders’ Fund
2008
2007
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
24,355 15,838 - Outside Malaysia
2,001 111 Allowance for diminution
- (1,370)
Unit trusts
Allowance for diminution
Unquoted:
Shares
- In Malaysia
- Outside Malaysia
Islamic debt securities Investment in investments - linked funds
Transfer to investment properties (Note 5)
26,356 27,156 14,579 3,248 - 7,462 (1,902)
3,248 3,375 5,560 380 - 878 52 380
930 8,347 30,840 18,212 - 13,086 (1,293)
18,212 20,824
11,793 64,538 15,974 146,283 19,414 80,512 165,697 137,305 229,399 13,841 66,522 Deposits and money market placement with:
Licensed banks - Local
- Foreign
Total investments
Investments maturing more than twelve months
8,597 22,093
5,560
31,306
13,395
119
8
Investments (Continued)
2008
2007
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
24,355 15,755 Allowance for diminution
- (1,287)
24,355 25,155 14,468 Unit trusts
- - 3,526 (1,902)
-
-
1,624 Unquoted:
Shares
- In Malaysia
380 878 Islamic debt securities 1,624
5,613 5,363 5,653 6,120
Investment in investments-linked funds
18,164 20,776
11,398 13,000
Deposits and money market placement with:
Licensed banks 64,538 114,269 64,538 114,269 113,050 148,290 5,813 34,234 Total investments
120
21,689
8 Investments (Continued)
(b) Family Takaful Fund
2008
2007
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
114,910 78,459 - Outside Malaysia
3 1,467 Allowance for diminution
(12,510)
(1,443)
102,403 Unit trusts
102,403 78,483 68,646 (533)
12,457 (2,737)
68,113 Unquoted:
Malaysian Government Islamic papers
Amortisation of premiums
70,571 9,720 411,607 - 371,061 (345)
411,607 394,998 370,716 Shares
- In Malaysia
- Outside Malaysia
- - 181 7,571 - 7,752 Islamic debt securities Allowance for diminution
1,149,136 (1,725)
906,520 (12,386)
1,147,411 1,092,502 894,134 Unit trusts
- 16,493 Other investments
Transfer to investment properties (Note 5)
Transfer to property and equipment (Note 3)
- - - 9,981 (3,022)
(6,959)
- Investment-linked funds - 12,905 Deposits and money market placement with:
- Foreign
Licensed finance companies
695,023 42,351 - 685,542 34,766 44,755 737,374 765,063 107,913
9,837
378,972
973,137
-
Total investments
2,466,908 2,155,266 Investments maturing more than twelve months
1,567,315 1,478,449 Syarikat Takaful Malaysia Berhad l Laporan Tahunan 2008 Annual Report
121
8
2008
2007
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
(12,510)
(1,443)
Unit trusts
Unquoted:
Shares
- In Malaysia
Islamic debt securities Allowance for diminution
Unit trusts
Licensed banks Licensed finance companies
102,400 102,400 77,016 48,750 (533)
6,952 (2,737)
48,217 48,420 4,215 411,607 - 371,061 (345)
411,607 394,998 370,716 - 181 1,132,995 (1,725)
897,788 (12,386)
1,131,270 1,076,361 885,402 - 16,493 695,022 - 679,680 44,755 695,022 724,435 Total investments
2,388,516 2,078,458 Investments maturing more than twelve months
1,552,859 1,443,665 122
106,445
4,328
378,972
964,405
8
(c) Investment-linked Fund
2008
2007
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
13,967 13,601 Shares outside Malaysia
23,680 -
Unrealised gains/(losses)
1,790 5,869 39,437 39,437 19,470 19,470
9,483 9,483
-
-
Unit Trust
Unquoted:
Islamic debt securities
Unrealised losses
14,234 (452) 12,136 (40) 13,782 13,782 12,096 Deposits and money market placement with:
Licensed banks 102,816 1,049 Total investments
165,518 32,615 Company
Quoted:
Shares in Malaysia
Unrealised gains/(losses)
13,967 1,790 13,601 5,869 15,757 15,757 19,470 14,234 (452) 12,136 (40) 13,782 13,782 12,096 Deposits and money market placement with:
Licensed banks 95,004 1,049 Total investments
124,543 32,615 Unquoted:
Unrealised losses
12,096
19,470
12,096
123
8
(d) General Takaful Fund
2008
2007
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
- (294)
40,545 25,323 5,541 (73)
3,506 (1,889)
5,468 5,554 1,617 92,151 - 96,073 (2,071)
92,151 89,042 94,002 147,131 (2,074)
94,189 (2,074)
145,057 132,212 92,115 142,099 2,022 194,972 6,780 144,121 201,752 Total investments
425,104 414,809 Investments maturing more than twelve months
247,042 235,973 Company
Quoted:
Shares
- In Malaysia
38,307 - 25,618 (294)
38,307 40,545 25,324 2,899 (73)
3,506 (1,889)
2,826 2,911 1,617 92,151 - 96,073 (2,071)
92,151 94,002 Unit trusts
Unquoted:
Islamic debt securities - In Malaysia
- Foreign
Unit trusts
Unquoted:
124
38,307 89,042 35,550
1,617
95,778
94,466
35,550
1,617
95,778
8
(d) General Takaful Fund (continued)
2008
2007
Market
Market
Cost/
Value/
Cost/
Value/
Valuation
Fair Value
Valuation
Fair Value
Company (continued)
RM’000
RM’000
RM’000
RM’000
Islamic debt securities Allowance for diminution
147,131 (2,074)
94,189
(2,074)
145,057 92,115 Deposits and money market placement with:
Licensed banks 122,615 183,941
Total investments
400,956 396,999
246,383 235,973 Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
9 Financing receivables
Group
2008
132,212 99,466
Secured financing
Staff financing
Allowance for doubtful financing
Unsecured financing
3,470 12,167 (2,935)
-
23,081 -
(6,386)
3,000 5,164
(5,140)
2,000
Total financing
12,702 19,695 2,024
Amount receivable after twelve months
13,433 3,540 -
2007
Secured financing
Staff financing
Unsecured financing
4,067 14,590 (3,183)
-
10,421 -
(7,368)
3,000 6,662
(5,962)
2,000
Total financing
15,474 6,053 2,700
14,358 -
-
Company
2008
Secured financing
Staff financing
Unsecured financing
2,771 12,167 (2,935)
-
6,459 -
(6,386)
3,000 5,164
(5,140)
2,000
Total financing
12,003 3,073 2,024
12,735 -
-
125
9 Financing receivables (Continued)
Company (continued)
2007
Secured financing
Staff financing
Unsecured financing
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
3,341 14,590 (3,183)
-
8,157 -
(7,368)
3,000 6,662
(5,962)
2,000
Total financing
14,748 3,789 2,700
14,358 -
-
10 Qardh Hasan receivables
Opening balance
Increase during the year
Group
2008
RM’000
Company
2008
RM’000
4,444 108,130 80,861
Qardh Hasan written off (Note 27)
Reclassified to Assets held for sale (Note 12)
112,574 (9,734)
(21,979)
80,861
-
Closing balance
80,861 80,861
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
-
-
60,091 4,023 77,063
57,476
Allowance for bad and doubtful debts
-
-
64,114 (18,706)
134,539 (60,729)
-
45,408 73,810
659 1,055 -
296
7,928 1,127 5,880 40,460 -
12,034 -
5,563 4,209 4,295 4,598 370
3,041
16,945 66,561 8,009
16,945
111,969 81,819
11 Receivables
Group
2008
Trade Receivables
Due contributions
Due from retakaful companies
Other Receivables
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 34)
Sundry receivables
Total receivables
126
11 Receivables (Continued)
Group (continued)
2007
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Trade Receivables
Due contributions
-
-
79,199 15,362 58,231
22,905
-
-
94,561 (32,551)
81,136
(26,272)
-
62,010 54,864
1,355 8,781 1,029 -
29,506 6,905 470 13,116 17,871 -
-
23,433 -
-
661 16,513 3,772
8,480
-
-
3,118
61,162 58,478 15,370
Total receivables
61,162 120,488 70,234
Company
2008
Due contributions
-
-
48,649 1,599 70,073
47,857
-
-
50,248 (13,713)
117,930
(59,469)
-
36,535 58,461
659 1,055 296 7,928 1,127 2,768 40,460 -
-
5,563 4,209 1,160
4,598
370
471
13,833 51,392 5,439
13,833 87,927 63,900
Other Receivables
Tax recoverable
Deposits
Due from Shareholders’ Fund (Note 40)
Sundry receivables
Trade Receivables
Other Receivables
Deposits
Sundry receivables
Total receivables
127
11 Receivables (Continued)
Company (continued)
2007
Trade Receivables
Due contributions
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
-
-
71,127 9,942 55,744
18,649
-
-
81,069 (32,551)
74,393
(26,272)
-
48,518 48,121
Other Receivables
Amount due from subsidiaries
Tax recoverable
Deposits
Sundry receivables
144 1,355 8,781 1,029 27,149 6,089 470 2,511 -
17,871 -
-
-
-
661 14,951 3,772
8,480
3,119
47,528 33,483 15,371
47,528 82,001 63,492
Total receivables
During the year, the Group and the Company wrote off General Takaful Due Contributions of RM nil (2007: RM67,721,000)
against the allowance for bad and doubtful debts.
Amounts due from subsidiaries and associated company are non-trade, unsecured, interest free and repayable on demand.
12 Assets held for sale
As at 30 June 2008, the assets and liabilities held for sale are as follows:
Group
Assets classified as held for sale
Investments
Qardh Hasan - Receivables
Receivables
128
2008
2007
RM’000
RM’000
210 30,925 1,671 6,106 452 -
39,364 -
12 Assets held for sale (Continued)
i)
Property and equipment held for sale comprise the following:
Plant and equipment:
Cost
2008
2007
RM’000
RM’000
1,654 (1,444)
1,718
(1,378)
210 340
ii) The Qardh Hasan amount of Assets Held for Sale after deducting impairment loss for the year of RM20,308,000 is as
follows:-
Qardh Hasan receivable
Impairment loss (Note 27)
Balance outstanding
Liabilities classified as held for sale
RM’000
21,979
(20,308)
1,671
2008
2007
RM’000
RM’000
3,233 -
Payables
3,233 -
Company
Reclassification of cost of investment in subsidiary - ARIL (Note 6)
Provision for diminution in value (Note 27)
2008
2007
31,385 (8,513)
-
22,872 -
13 Cash and bank balances
Current account with a related company
(Islamic financial institution)
Other current accounts
2008
RM’000
Group
2007
RM’000
Company
2008
2007
RM’000
RM’000
9,237
506 15,843 53 8,036
261 12,952
48
9,743 15,896 8,297 13,000
Family Takaful
100,538
6,378 53,877 -
95,043 362 42,743
-
106,916 53,877 95,405 42,743
General Takaful
12,152 28,125 22,583 2,155 11,987 22,876 22,583
-
40,277
24,738 34,863 22,583
129
14 Payables
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Due to retakaful companies
Advanced takaful contribution
Zakat payable
Deposit payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Other payables and accruals
-
-
-
3,585 648 -
-
12,034 28,124 3,195 13,643 7,355 -
-
-
296
-
105,049 36,846
11,091
9,356
7,219
7,928
5,563
51,504
Total payables
44,391 129,538 129,507
Group
2007
Zakat payable
Deposit payable
Unclaimed monies
Due to General Takaful Fund (Note 11)
Due to ILB (Note 34)
-
-
-
3,451 652 -
-
-
23,433 -
76,653 10,604 11,995 7,310 -
-
-
29,506 8,480 -
-
48,898 61,605
15,970
116
232
6,905
1
43,373
Total payables
104,189 116,793 128,202
130
14 Payables (Continued)
Shareholders’
Company
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Deposit payable
Zakat payable
Unclaimed monies
-
-
-
647 3,287 -
-
-
19,042 2,652 13,643 7,355 -
-
-
296 -
90,495 35,112
11,091
9,356
7,219
7,928
5,563
45,483
Total payables
22,976 114,441 121,752
Company
2007
Deposit payable
Zakat payable
Unclaimed monies
Due to ILB (Note 34)
-
-
-
652 2,647 -
-
-
-
31,585 7,488 11,957 7,310 -
-
-
27,149 8,480 -
48,284
61,829
15,941
232
6,089
1
39,165
Total payables
34,884 110,668 123,257
Family
Takaful
RM’000
General Takaful
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
15 Provision for outstanding claims
Group
2008
2007
Retakaful recoveries
56,254 (6,707)
459,279 (273,681)
87,247 (2,057)
311,884
(147,590)
Net outstanding claims
49,547 185,598 85,190 164,294
Company
49,420 (6,707)
409,384 (254,951)
71,037 (2,057)
285,263
(147,590)
Net outstanding claims
42,713 154,433 68,980 137,673
131
16 Deferred taxation
Deferred tax assets and liabilities are attributable to the following:-
Group
Assets
Liabilities
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
(5,427)
Qardh Hasan receivables
-
Investments
(906)
(2,091)
Receivables
(3,468)
-
Payables
(6,177)
Unabsorbed tax losses
(19,595)
(4,619)
-
(3,365)
(1,939)
(1,520)
-
(3,970)
-
-
21,024 -
-
-
-
-
-
Tax (assets)/liabilities
(37,664)
(15,413)
Set off of tax
21,024 Net tax (assets)/liabilities
(16,640) Company
2007
RM’000
-
-
-
-
-
266 -
-
(5,427)
21,024 (906)
(2,091)
(3,468)
-
(6,177)
(19,595)
(4,619)
(3,365)
(1,939)
(1,520)
266
(3,970)
-
21,024 266 (16,640) (15,147)
266 (21,024)
(266)
-
-
(15,147)
-
-
(16,640) (15,147)
Assets
Liabilities
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
(5,244)
-
Investments
(906)
(2,091)
Receivables
(2,595)
-
Payables
(3,031)
(19,595)
(4,619)
-
(1,411)
(1,939)
(1,520)
-
(3,970)
-
-
21,024 -
-
-
-
-
-
(33,462)
(13,459)
Set off of tax
21,024 Net tax (assets)/liabilities
(12,438)
132
Net
2008
RM’000
Net
2008
RM’000
2007
RM’000
-
-
-
-
-
266 -
-
(5,244)
21,024 (906)
(2,091)
(2,595)
-
(3,031)
(19,595)
(4,619)
(1,411)
(1,939)
(1,520)
266
(3,970)
-
21,024 266 (12,438) (13,193)
266 (21,024)
(266)
-
-
(13,193)
-
-
(12,438) (13,193)
16 Deferred taxation (Continued)
Shareholders’ Fund (continued)
Movement in temporary differences during the year: Recognised
As at Recognised
As at in income
Exchange
1 July in income
Exchange
30 June statement Differences/
2006 statement Differences
2007 (Note 31) Adjustment
Group
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
As at
30 June
2008
RM’000
4,850 Qardh Hasan receivables
-
Investments
(11,269)
(3,231)
Receivables
-
-
Payables
-
-
(9,469)
-
8,622 1,292 (1,520)
266 (3,970)
-
-
-
(718)
-
-
-
-
-
(4,619)
-
(3,365)
(1,939)
(1,520)
266 (3,970)
-
(816)
21,024 2,459 (152)
(1,948)
(266)
(2,300)
(19,595)
8
-
-
-
-
-
93 -
(5,427)
21,024
(906)
(2,091)
(3,468)
(6,177)
(19,595)
(4,779)
(718)
(15,147)
(1,594)
101 (16,640)
(9,650)
Movement in temporary differences during the year:
As at
Recognised
As at
1 July
in income
30 June
2006
statement
2007
Company
RM’000
RM’000
RM’000
Recognised
in income
statement
(Note 31)
RM’000
As at
30 June
2008
RM’000
Investments
Receivables
Payables
4,850 -
(11,269)
(3,231)
-
-
-
-
(9,469)
-
9,858 1,292 (1,520)
266 (3,970)
-
(4,619)
-
(1,411)
(1,939)
(1,520)
266 (3,970)
-
(625)
21,024 505 (152)
(1,075) (266)
939
(19,595)
(5,244)
21,024
(906)
(2,091)
(2,595)
(3,031)
(19,595)
(9,650)
(3,543)
(13,193)
755 (12,438)
17 Minority shareholders’ interests
This consists of the minority shareholder’s proportion of share capital and reserves of subsidiaries.
133
18 Family Takaful Fund
Participants’ Account (PA)
Group
2008
RM’000
2007
RM’000
Company
2008
2007
RM’000
RM’000
At beginning of the year
As previously reported
Prior year adjustment (Note 40)
1,602,121 23,433 1,444,679 22,500 1,528,677 -
1,390,840
-
As restated
Add: Increase in PA
1,625,554 207,190 1,467,179 82,929 1,528,677 171,712 1,390,840
70,016
1,832,744 78,100 1,550,108 65,558 1,700,389 74,024 1,460,856
56,163
1,910,844 1,615,666 1,774,413 1,517,019
Movement in unrealised gain in investment and other reserves: - At beginning of the year
- At end of the year
(20,773)
16,282 (13,390)
20,773 (20,773)
16,282 (13,390)
20,773
(4,491)
7,383 (4,491)
7,383
5,116 29,963 (11,359)
4,275 -
(1,770)
5,116 -
-
4,275
-
1,930,073 1,625,554 1,775,038 1,528,677
Special reserve
Interfund
Translation reserve
At end of the year
Participants’ Special Account (PSA)
Add: Increase in PSA
568,479 3,360 524,693 19,997 569,227 2,821 527,142
19,542
571,839 34,586 544,690 22,477 572,048 34,436 546,684
22,543
606,425 567,167 606,484 569,227
Movement in special reserves:
- At beginning of the year
(6,583)
6,583 (6,583)
6,583 (6,583)
6,583 (6,583)
6,583
-
-
-
-
(135)
1,312 -
-
606,290 568,479 606,484 569,227
Translation reserve
At end of the year
134
18 Family Takaful Fund (Continued)
Group Family Takaful Fund (GFTA)
2008
RM’000
2007
RM’000
Company
2008
2007
RM’000
RM’000
180,811 45,279 94,280 151,720 (86,549)
(431)
193,606 41,538 80,861 152,567
(72,496)
-
320,370 64,740 316,005 80,071
Movement in actuarial reserves:
(197,012)
250,470 (82,408)
197,012 (193,740)
246,125 (80,205)
193,740
53,458 114,604 52,385 113,535
Movement in special reserves:
(9,145)
9,145 (9,145)
9,145 (9,145)
9,145 (9,145)
9,145
-
-
-
-
1,075 1,467 -
-
374,903 180,811 368,390 193,606
2,911,266 2,374,844 2,749,912 2,291,510
Profit /(Loss) attributable to participants
Movement in Qardh Hasan
At end of the year
Family Takaful fund at end of the year
Group
In the valuation of the Participants’ Special Account (PSA) and Mortgage Reducing Term Takaful (MRTT) of Group Family
Takaful Fund (GFTA) funds carried out by a qualified 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 1/365 method.
In respect of the Ordinary Family PSA & Annuity Waqaf, the statutory valuation of the Company’s Family Takaful Fund was
made for the year ended 30 June 2008 and the results (before shareholders’ transfer) showed a surplus of RM138,142,000
(2007: RM91,129,000) for the Company.
In respect of the Ordinary Family GFTA, the statutory valuation of the Company’s Group Family Takaful Fund was made for the
year ended 30 June 2008. In the previous year, the GFTA for MRTT certificates showed a deficit of RM86,941,000. As a result
of this, a Qardh Hasan was made during the current financial year to make good deficit in the fund for MRTT business. The
Qardh Hasan outstanding as at June 2008 is RM80,861,000. GFTA for other products showed a surplus (before shareholders’
transfer) of RM167,768,000 (2007: RM160,194,000) for the Company.
The Indonesian subsidiary involved in family takaful business conducts statutory valuation based on its statutory year end on
31 December 2007 which resulted into a prior year adjustment due to deficit in the reserves as disclosed in Note 40.
135
19 General Takaful Fund
2008
RM’000
2007
RM’000
Company
2008
2007
RM’000
RM’000
40,639 194,320 23,061 16,893 -
2,264 27,522 206,837 23,061 2,920 28 -
63,393
182,162 23,061 -
-
-
46,960
196,949
23,061
-
277,177
260,368
268,616
266,970
27,522 73,033 46,960 80,911
Net surplus/(deficit) attributable to participants for the
financial year
Profits payable to participants for the financial year
32,871 (19,754)
(26,902)
(18,609)
35,884 (19,451)
(16,212)
(17,739)
40,639
27,522
63,393
46,960
Marine,
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
Group
Revenue account accumulated surplus
Unearned contribution reserves (Note 20)
Special reserves
Statutory liabilities - Qardh Hasan
Interfund balances
Revenue account accumulated surplus
As at 1 July Balance as at 30 June
20 Unearned Contribution Reserves
Group
Fire
Motor
2008
RM’000
RM’000
Decrease in unearned
131,312 44,420 4,518 26,587 206,837
(2,997)
(1,915)
(1,491)
(6,114)
(12,517)
At end of the year
128,315 42,505 3,027 20,473 194,320
2007
122,254 36,853 4,698 23,478 187,283
9,058 7,567 (180)
3,109 19,554
131,312 44,420 4,518 26,587 206,837
Increase/(decrease) in unearned
At end of the year
136
20 Unearned Contribution Reserves (Continued)
Company
Fire
Motor
2008
RM’000
RM’000
128,780 39,642 Decrease in unearned
(3,135)
(2,835)
At end of the year
2007
Increase/(decrease) in unearned
At end of the year
Marine,
Aviation
RM’000
RM’000
Total
RM’000
1,984 26,543 196,949
(1,455)
(7,362)
(14,787)
125,645 36,807 529 19,181 182,162
121,687 31,680 3,661 23,382 180,410
7,093 7,962 (1,677)
3,161 16,539
128,780 39,642 1,984 26,543 196,949
21 Share capital and reserves
Authorised :
Ordinary shares of RM1.00 each
500,000
500,000
Issued and fully paid
Ordinary shares of RM1.00 each at 1 July
Issue of shares under the employee share option scheme
156,302 5,274 152,643
3,659
On issue at 30 June
161,576
156,302
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
(net of tax)
2008
Interim 2008 ordinary
Final (proposed) 2008 ordinary
2.61
2.59
Final 2007 ordinary
2.59
2007
Final 2006 ordinary
6.12
Group and Company
2008
2007
RM’000
RM’000
Total
amount
RM’000
Date of
payment
4,163 4,185
27/6/08
*
-
9,348 28/12/06
137
22 Dividends (Continued)
*
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 2008 ordinary
23 Operating Revenue
Group
2008
Total
amount
RM’000
2.59
4,185
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
Gross contributions
Investment income (Note 24) -
17,472 647,033 172,466 254,435 30,244 901,468
220,182
17,472
819,499
284,679
1,121,650
2007
Gross contributions
Investment income (Note 24)
-
14,791 558,574 116,050 346,370 21,165 904,944
152,006
14,791 674,624 367,535 1,056,950
-
13,510 529,689 161,875 193,372 29,248 723,061
204,633
13,510 691,564 222,620 927,694
-
6,226 470,205 109,859 306,620 20,112 776,825
136,197
6,226 580,064 326,732 913,022
Company
2008
Gross contributions
2007
Gross contributions
138
24 Investment income
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
664 4,494 62,876 28,001 6,486
8,776
Deposit/money market placements
Financing
- Secured
- Staff
Profit on disposal of investment
Other income from investments
Gross dividend from Shariah approved shares
- Quoted in Malaysia
- Unquoted in Malaysia
Rental of investment properties
71 479 6,812 1,747 314 -
44,406 1,167 6,457
856
942 -
2,263 4,364 14,884 16,454 1,552
3,176
2,941
Total investment income
17,472
172,466
30,244
2007
Financing
- Secured
- Staff
(Loss)/Profit on disposal of investments
Other dividend income
2,105 6,263 56,800 27,540 5,566
7,942
428 541 371 (823) 949 -
147 3,740 298
1,439
944 2,252 2,710 3,308 7,877 15,689 1,319
1,482
3,119
14,791
116,050
21,165
Company
2008
Financing
- Staff
Profit from disposal of investments
- Unquoted in Malaysia
413 2,666 61,703 25,822 6,486
7,781
479 6,362 404 -
38,504 823 6,457
855
942 -
2,244 4,364 14,884 15,775 1,552
3,176
2,941
13,510
161,875
29,248
139
24 Investment income (Continued)
Shareholders’
Company (continued)
Fund
2007
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
407 3,437 56,800 25,898 5,147
7,527
240 541 (1,740) 661 -
2,464 298
1,439
944 32 2,365 3,308 5,517 15,211 1,319
1,280
3,102
6,226 109,859 20,112
25 Other operating income
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Financing
- Secured
- Staff
(Loss)/Profit from disposal of investment
Other dividend income
Income from ILB, service charge and management fees
Miscellaneous income Fair value gain arising from investment properties
Accretion of discounts
Gain on disposal of property and equipment and investment property
Wakalah fee
16,927 1,551 2,162 -
26 33,021 217 2,675
10,658 345 17 -
9,784
2,869
2,071
68
-
53,687 13,912 14,792
2007
610 6,860 343 -
-
5,123 -
11,056 7,635
2,029
7,813 16,179 9,664
12,864 (26) 2,158 -
26 -
2,109
10,658 345
-
8,166
2,869
2,071
-
15,022
13,112
13,106
Company
2008
Gain on disposal of property and equipment
140
25 Other operating income (Continued)
Shareholders’
Company (continued)
Fund
2007
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
610 3,981 -
-
-
5,204 -
11,056 2,082
75
2,029
4,591
16,260
4,186
26 Management expenses
Group
Company
2008
2007
2008
2007
(Restated)
(Restated)
RM’000
RM’000
RM’000
RM’000
Staff costs
Directors’ remuneration
- Salaries and other emoluments
- Fees
Shariah Committee remuneration
- Emoluments
- Fees
76,698 76,669 60,389 60,539
2,293 360 1,525 312 1,531 333 1,273
132
-
173 243 110 -
105 114
86
79,524
78,859
62,358
62,144
17,716 31 20,692 (91)
16,157 31 15,922
(91)
271 77 546 105 11,535 9,042 3,734 1,499 267 175 263 865 7,240 7,999 9,864 741 248 -
546 8
11,413 7,353 3,729 1,477 242
132
17
6,662
7,999
9,864
212
44,556
48,015
40,962
40,959
124,080 126,874 103,320 103,103
Depreciation
Amortisation of prepaid lease payment
Audit fees
- Company auditors
- Other auditors
Licence fees
Legal fees
Professional fees
Rental of properties
Rental of equipment
Other expenses
Total management expenses
All management expenses are incurred at the Shareholders’ fund level. The estimated monetary value of benefits in kind
received by the directors, are RM243,000 (2007: RM124,000) and RM177,000 (2007: RM62,000) at Group and Company
level respectively.
141
27 Other operating expenses
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Investment expenses
Writeback of allowance for diminution in value of investments
Impairment loss on asset held for sale
(Writeback of)/Allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
Write off of equipment
Qardh Hasan written off
Administrative and general expenses Wakalah fees
Audit fees
1,173 (3,272) 20,308
(210)
(248)
4,548 9,734 46,749 -
-
10,966 (1,798) -
(14,095)
(982)
69 -
9,759 15,312 133 1,944
(2,110)
20,659
(822)
8,874
17,709
29
78,782 19,364 46,283
2007
Investment expenses
Fair value loss arising from investment properties
Administrative and general expenses Audit fees
7,049 (2,474)
853 (760)
4,166 -
31,376 -
6,696 (5,474)
11,302 74 -
544 8,431 130 1,151
(1,368)
72,384
450
730
6,505
28
40,210
21,703
79,880
1,173 (3,189) 8,513 (210)
(248)
4,548 18,854 -
10,966 (1,799) -
(16,908)
(982)
66
7,327 133 1,944
(2,110)
21,228
(822)
2,833
29
29,441
(1,197)
23,102
Company
2008
Investment expenses
Allowance for diminution in value of investments in subsidiary
(Writeback of)/Allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
142
27 Other operating expenses (Continued)
Shareholders’
Company (continued)
Fund
2007
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Investment expenses
Fair value loss arising from investment properties
2,467 (2,474)
853 (760)
4,166 70 19,497 -
6,696 (5,474)
11,302 74 -
529 1,284 130 410
(1,368)
72,384
450
7,235
28
23,819
14,541
79,139
28 Key Management Personnel Compensation
Directors
Executive:
Salaries and other emoluments
Benefits-in-kind
Group
Company
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
2,293 95
1,235 97 1,531 29 987
35
2,388
1,332
1,560
1,022
Non-Executive:
Other emoluments
Fees
Benefits-in-kind
333 27 148 290 312 27 333 -
148
286
132
27
508
629
481
445
Other key management personnel:
Short-term employment benefits
Benefits-in-kind
3,711 72 1,835 -
2,571 72 436
-
3,783
1,835
2,643
436
6,679 3,796 4,684 1,903
Total
29 Employee information
Group
2008
RM’000
2007
RM’000
76,698 76,669 Company
2008
2007
RM’000
RM’000
Staff costs
60,389 60,539
The number of employees of the Group and of the Company (including Executive Director) at the end of the year were
1,920 (2007: 2,319) and 1,342 (2007: 1,714) respectively.
Staff costs of the Group and of the Company includes contributions to the Employees Provident Fund of RM7,378,006
(2007: RM6,958,802) and RM7,196,088 (2007 : RM6,715,613) respectively.
143
30 Employee benefits
Equity compensation benefits
Share option plan
On 28 June 2003, the Company’s shareholders approved the establishment of an employees’ share option scheme of not more
than 10% of the issued share capital of the Company to eligible Directors and employees of the Group. The salient features of
the scheme are as follows:
i) Eligible employees are those who have been confirmed in writing as employees of the Group (save for any subsidiaries
which are dormant and which are not incorporated in Malaysia) for at least one year prior to the date of the offer.
ii) The option is personal to the grantee and is non-assignable.
iii) The option price shall be determined by the average of the middle market quotation of the Company’s ordinary shares
as shown in the daily official list issued by Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for the five trading
days preceding the respective dates of the offer in writing to the grantee or at the par value of the ordinary shares of the
Company, whichever is higher.
iv) The options granted may be exercised at any time within a period of five years from the date of offer of the option or such
shorter period as may be specifically stated in the offer upon giving notice in writing.
v)
vi) The option scheme shall be in force for five years until 31 October 2008.
The options granted may be exercised in full or in lesser number of ordinary shares provided that the number shall not be
less than 1,000 new shares and not more than ten per cent (10%) of the issued and paid up share capital of the company
at the point in time when an offer is made.
Movements in the number of shares options held by employees are as follows:
2008
’000 (units)
2007
’000 (units)
As at 1 July Exercised during the financial year
Lapsed during the financial year
8,156 (5,274)
(967)
12,629
(3,659)
(814)
As at 30 June
1,915 8,156
The options outstanding as at 30 June 2008 have an exercise price of RM1.20 per ordinary share and a remaining contractual
life of 16 months.
During the current year, 5,274,000 share options were exercised (2007: 3,659,000). The weighted average share price for the
year was RM1.58 (2007: RM1.35). The weighted average share price was determined based on the total market value (at daily
closing price) over the total number of options on the days of exercise.
144
31 Tax expense
Group
Company
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
Current tax expense
Malaysian - under provision for prior year
Overseas - current year
10,715 -
2,086 447 10,863 -
2,086
-
10,715 2,533 10,863 2,086
Deferred tax (assets)/liabilities
Origination and reversal of temporary differences (Note 16)
(1,493) (4,779)
755 (3,543)
9,222 (2,246)
11,618 (1,457)
Reconciliation of effective tax rate
Group
Company
2008
2007
RM’000
RM’000
2008
RM’000
2007
RM’000
37,910 25,444
46,119 17,488
Income tax using Malaysian tax rate
Effect of different tax rates in local jurisdiction
Item not subject to tax
Effect of deductible temporary differences
not recognised in prior year
Effect of prior year tax loss not recognised
9,857 1,225 (12,575)
6,870 (1,629)
(21,853)
11,991 1,225 (12,461)
4,722
(1,629)
(18,917)
-
-
(1,720)
14,000 -
-
(1,000)
13,281
Under provision of tax in prior year 1997 - 2007
(1,493) 10,715
(4,332)
2,086 755 10,863 (3,543)
2,086
9,222 (2,246)
11,618 (1,457)
Tax expense/(credit)
145
32 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 RM29,705,000
(2007 as restated: RM20,675,000) and the weighted average number of ordinary shares issued during the year of
158,635,000 (2007: 153,266,000).
Weighted average number of ordinary shares
2008
’000 (units)
2007
’000 (units)
Issued ordinary shares at beginning of the year
Effect of new shares issued
156,302 2,333 152,643
623
Weighted average number of ordinary shares
158,635 153,266
(b) Diluted earnings per share
Diluted earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted
average number of shares in issue adjusted for potential dilutive ordinary shares arising from share options granted to
employees.
2008
2007
(Restated)
RM’000
RM’000
Net profit attributable to shareholders
29,705
20,675
Weighted average number of ordinary share in issue
Adjustment for share options
158,635
464
153,266
852
Total
159,099
154,118
Diluted earnings per share (sen)
18.7
13.4
Marine,
Aviation
RM’000
RM’000
Total
RM’000
33 Net Claims Incurred
Group
Fire
Motor
2008
RM’000
RM’000
Gross claims paid less salvage
34,295 (25,507)
47,400 (3,115)
16,736 (10,039)
35,509 (11,590)
133,940
(50,251)
Net claims paid
8,788 44,285 6,697 23,919 83,689
Net outstanding claims:
At end of the year
44,519 (38,513)
62,587 (44,042)
12,904 (17,477)
65,588 (64,262)
185,598
(164,294)
14,794 62,830 2,124 25,245 104,993
Net claims incurred
146
33 Net Claims Incurred (Continued)
Group (continued)
Fire
Motor
2007
RM’000
RM’000
Marine,
Aviation
RM’000
RM’000
Total
RM’000
61,045 (43,255)
45,425 1,463 10,223 (4,077)
38,078 (7,347)
154,771
(53,216)
Net claims paid
17,790 46,888 6,146 30,731 101,555
At end of the year
38,513 (15,445)
44,042 (36,918)
17,477 (7,759)
64,262 (38,459)
164,294
(98,581)
Net claims incurred
40,858 54,012 15,864 56,534 167,268
Company
2008
28,092 (24,022)
37,422
(2,615)
12,244 (9,059)
31,076 (10,827)
108,834
(46,523)
Net claims paid
4,070 34,807 3,185 20,249 62,311
At end of the year
34,665 (28,171)
57,961 (41,080)
7,065 (12,447)
54,742 (55,975)
154,433
(137,673)
Net claims incurred
10,564 51,688 (2,197)
19,016 79,071
2007
44,249 (33,954)
35,046 2,071 6,315 (1,594)
32,456 (5,043)
118,066
(38,520)
Net claims paid
10,295 37,117 4,721 27,413 79,546
At end of the year
28,171 (9,694)
41,080 (34,039)
12,447 (6,040)
55,975 (35,404)
137,673
(85,177)
Net claims incurred
28,772 44,158 11,128 47,984 132,042
147
34 Investment-linked business (ILB)
Balance Sheet as at 30 June Assets
2008
RM’000
2007
RM’000
Investments (Note 8)
Receivables
165,518 8
-
9,933 32,615 3,215 1
1,851 124,543 8
-
6,289 32,615
3,215
1
1,851
Total ILB assets
175,459 37,682 130,840 37,682
Liabilities
Payables
341 4,362 1,127 4,209 370 1,239 2,199 470 661 -
341 4,362 1,127 4,209 370 1,239
2,199
470
661
-
Total ILB liabilities
10,409 4,569 10,409 4,569
Net asset value of funds
165,050 33,113 120,431 33,113
Revenue account for the year ended 30 June
Gross contributions
Retakaful
134,267 (109) 6,069 (42) 94,663 (109) 6,069
(42)
Net contributions
Decrease/(Increase) in unearned contribution reserves
134,158 26 6,027 (18) 94,554 26 6,027
(18)
Net retained contribution
134,184 6,009 94,580 6,009
Benefit paid and payable
Death
Surrender
Redemption of units for Tabarru’
Part withdrawal
Service charge
Other expenses
Matured
Academic Achievement
(5,596) (4,803) (259) (183) (4,034) (87) (42) -
(220) (4,141) (383) (267) (214) (205) -
(56) 59 (4,804) (259) (183) (146) (87) (42) -
(220)
(4,141)
(383)
(267)
(214)
(205)
(56)
(15,004) (5,486) (5,462) (5,486)
119,180 523 89,118 523
148
Group
Company
2008
2007
RM’000
RM’000
34 Investment-linked business (ILB) (Continued)
Comprises:
Underwriting profit – Individual Family ILB
Underwriting profit – Group Family ILB
2008
RM’000
2007
RM’000
118,404 776 245
278
88,342 776 245
278
Less: Underwriting profit – Individual Family ILB
119,180 (118,404)
523
(245)
89,118 (88,342)
523
(245)
776 6,271 79 -
278
888
-
(39)
776 3,150 78 -
278
888
(39)
7,126 1,127 4,004 1,127
(513) -
(259)
(65)
(513) -
(259)
(65)
6,613 803 3,491 803
Underwriting profit – Group Family ILB
Investment income
Profit attributable to the Company and participants
after excluding underwriting profit – Individual Family ILB Profit attributable to the Company transferred to
Income Statement
Group
Company
2008
2007
RM’000
RM’000
Profit attributable to participants for the year
Family ILB Fund at beginning of the year
Underwriting profit – Family ILB
Profit attributable to participants for the year
Unrealised (loss) / gain in value of investments
44,717 118,404 6,613 (25)
(4,491)
(168)
24,664
245
803
18
7,383
-
33,113 88,342 3,491
(24)
(4,491)
-
24,664
245
803
18
7,383
-
Family ILB Fund at end of the year 165,050 33,113
120,431 33,113
35 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.
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.
Transactions with related parties during the year are as follows. Balances outstanding in respect of these transactions are
disclosed in Notes 11 and 14.
149
35 Related parties (Continued)
Group
2007
RM’000
33 -
33 -
-
-
3,790 29,825
7,258 192 2,420 -
8,139 1,146 1,878 333 7,258 192 2,420 -
8,139
1,146
1,878
333
31 550 31 550
394 99 394 99
4,991
769
682
2,710
4,991
769
682
2,710
-
120 -
120
Holding company
BIMB Holdings Berhad
Contribution for general takaful
Subsidiary company (Note 6)
Asean Retakaful International (L) Ltd.
Contribution for facultative and treaty outward
Related companies
Bank Islam Malaysia Berhad
Rental income
Contribution for group family takaful
Provision of IT Services
BIMSec Asset Management Sdn. Bhd.
Management portfolio fee paid
Syarikat Ijarah Sdn. Bhd.
Lease rental
Lembaga Tabung Haji
Contribution for group family takaful
BIMB Unit Trust Management Berhad
Takaful contribution
Company
2008
2007
RM’000
RM’000
2008
RM’000
36 Operating leases
Total future minimum lease payments under non-cancellable operating leases are as follows:
Group and Company
2008
2007
RM’000
RM’000
Non-related parties:
Less than one year
Between one and five years
Related party:
Less than one year
Between one and five years
Lease commitments are wholly payable from the Shareholders’ fund.
The Group and the Company leases a number of computer and equipments under operating leases. The leases typically run
an initial period of five years, with an option to renew the lease after that date.
150
2,713 2,658 1,526
779
407 1,084 1,807
2,130
37 Capital commitments
Authorised by the Directors and contracted for
Group and Company
2008
2007
RM’000
RM’000
12,723 15,176
38 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 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 are disclosed separately within
this 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 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.
Geographical segments
2008
Malaysia
RM’000
Indonesia
RM’000
Total external revenue
Inter-segment revenue
957,522
-
164,128
-
-
-
1,121,650
-
Total segment revenue
957,522
164,128
-
1,121,650
Segment result
33,844
4,066
-
37,910
Finance costs
-
Profit before zakat & taxation
Zakat
Tax expense
37,910
(4,050)
(9,222)
Profit for the year
24,638
Segment assets by location of assets
3,855,907
218,942
(27,550)
4,047,299
Segment liabilities by location of liabilties
3,506,723
204,541
-
3,711,264
Capital expenditure by location of assets
14,637
1,015
-
15,652
Depreciation and amortisation
16,333
1,414
17,747
Non cash expenses other than depreciation and amortisation
9,647
-
9,647
Eliminations Consolidated
RM’000
RM’000
151
38 Segmental information (Continued)
Geographical segments (continued)
2007
Malaysia
RM’000
Indonesia
RM’000
Total external revenue
Inter-segment revenue
934,311
-
122,639
-
-
-
1,056,950
-
Total segment revenue
934,311
122,639
-
1,056,950
Segment result
24,726
718
-
25,444
Finance costs
-
Profit before zakat & taxation
Zakat
Tax expense
25,444
(3,818)
2,246
Profit for the year
23,872
Segment assets by location of assets
3,333,381
175,711
(27,550)
3,481,542
Segment liabilities by location of liabilties
3,020,599
149,044
-
3,169,643
Capital expenditure by location of assets
15,381
1,646
-
17,027
Depreciation and amortisation
16,010
4,591
-
20,601
Non cash expenses other than depreciation and amortisation
21,451
-
-
21,451
Segment Information on Cash Flow
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
7,204 (15,070)
2,165 60,782
339 -
15,286 253 -
83,272
(14,478)
2,165
(5,701)
61,121
15,539
70,959
(5,701)
61,121 15,539 70,959
15,896 55,728 24,738 96,362
10,195
116,849
40,277
167,321
26,327 (16,570)
(5,891)
49,952 (2,015)
-
18,262 (259)
-
94,541
(18,844)
(5,891)
3,866 47,937 18,003 69,806
Group
2008
Cash flows from:
Operating activities
Investing activities
Financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents:
At end of the year
2007
Cash flows from:
152
Eliminations Consolidated
RM’000
RM’000
38 Segmental information (Continued)
Segment Information on Cash Flow (continued)
Group (continued)
2007
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
3,866 47,937 18,003 69,806
12,030 7,791 6,735 26,556
At end of the year
15,896 55,728 24,738 96,362
7,510 (14,378)
2,165 57,186
(86)
-
12,314 (34)
-
77,010
(14,498)
2,165
(4,703)
57,100 12,280 64,677
Net (decrease)/increase in cash and cash equivalents
(4,703)
57,100 12,280 64,677
13,000 44,594 22,583 80,177
8,297
101,694 34,863
144,854
25,967 (13,741)
(4,957)
47,955 (4,484)
-
20,312 (259)
-
94,234
(18,484)
(4,957)
7,269 43,471 20,053 70,793
7,269 43,471 20,053 70,793
5,731 1,123 2,530 9,384
13,000 44,594 22,583 80,177
Company
2008
Cash flows from:
At end of the year
2007
Cash flows from:
At end of the year
153
39 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
business. 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 16.4% of the Group and 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.
154
39 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
2008
Financial assets
Secured financing
Deposit and money market
placement
Staff financing
Effective
Profit
Rate
Total
%
RM’000
Less than
1 year
RM’000
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5
years
RM’000
More than
5 years
RM’000
4.44 11.17 8,597 699 44 -
31 197 230 133 156 3
104 3
8,032
363
3.53 3.55 80,512 12,003 75,255 12 5,058 47 199 59 -
289 -
351 11,245
Total
101,811
75,311
5,333
621
448
458
19,640
Group
2007
6.24
12.28
30,840
1,116
1,031
493
331
9
22,067
19
412
32
191
81
6,808
482
4.08
4.00
165,697
14,358
95,579
221
69,918
42
-
133
200
94
-
279
13,589
Total
212,011
97,324
70,300
22,219
738
551
20,879
Family Takaful Fund
Group
2008
6.24 1,147,411 26,377 16,144 26,783 85,398 112,695 880,014
Financial assets
Secured financing
placement
Staff financing
Financial assets
Malaysian Government
Islamic papers
Secured and unsecured
financing
placement
4.02 411,607 -
-
19,523 70,517 14,985 306,582
7.32 19,695 16,155 63 183 98 105 3,091
3.47 737,374 669,370 21,575 25,980 20,349 100 -
Total
2,316,087 711,902 37,782 72,469 176,362 6.71
894,134
17,003
3,780
12,932
21,535
66,865
772,019
3.95
370,716
41,350
-
-
19,529
68,127
241,710
11.17
6,053
3,793
31
70
115
295
1,749
3.72
765,063
386,721
291,340
21,575
28,580
20,450
16,397
Total
2,035,966
448,867
295,151
34,577
69,759
155,737
1,031,875
Group
2007
Financial assets
Islamic papers
financing
placement
127,885 1,189,687
155
General Takaful Fund
Group
2008
Financial assets
Islamic papers
financing
placement
Effective
Profit
Rate
Total
%
RM’000
Less than
1 year
RM’000
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5
years
RM’000
More than
5 years
RM’000
5.48 145,057 9,989 -
10,064 15,454 10,000 99,550
4.04 92,151 -
-
5,005 28,036 -
59,110
9.72 2,024 2,024 -
-
-
-
-
3.58 144,121 124,955 5,850 9,440 3,876 -
-
Total 383,353 136,968 5,850 24,509 47,366 10,000 158,660
5.84
92,115
1,999
-
-
-
5,500
84,616
3.85
94,002
2,446
-
-
5,007
27,398
59,151
9.79
2,700
2,700
-
-
-
-
-
Group
2007
Financial assets
Islamic papers
financing
placement
3.75
201,752
102,186
80,400
5,850
9,490
3,826
-
Total
390,569
109,331
80,400
5,850
14,497
36,724
143,767
6.50 5,613 -
-
-
-
-
5,613
3.47 3.55 64,538 12,003
64,338 12 -
47 200 59 -
289 -
351 11,245
Total 82,154 64,350 47 259 289 351 16,858
Company
2007
6.50 10.00 5,653
390
-
390
-
-
-
-
-
-
-
-
5,653
-
3.50 4.00 114,269
14,358
61,569
221
52,500
42
-
133
200
94
-
279
13,589
Total
134,670
62,180
52,542
133
294
279
19,242
Company
2008
Financial assets
placement
Staff financing
Financial assets
Secured financing
placement
Staff financing
156
Family Takaful Fund
Company
2008
Financial assets
Islamic papers
Secured and unsecured financing
Deposit and money market placement
Effective
Profit
Rate
Total
%
RM’000
Less than
1 year
RM’000
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5
years
RM’000
More than
5 years
RM’000
6.24
1,131,270 24,910 15,130 25,060 80,228
109,247 876,695
4.02
411,607 -
-
19,523 70,517 14,985 306,582
9.72
3,073 3,073 -
-
-
-
-
99 -
3.46
695,022 627,019 21,575 25,980 20,349
Total 2,240,972 655,002 36,705 70,563 171,094 Company
2007
6.67
885,402
13,990
-
10,176
20,038
66,334
774,864
3.95
370,716
41,350
-
-
19,529
68,127
241,710
9.78
3,789
3,789
-
-
-
-
-
3.60
724,435
346,093
291,340
21,575
28,580
20,450
16,397
Total
1,984,342
405,222
291,340
31,751
68,147
154,911
1,032,971
General Takaful Fund
Company
2008
5.48
145,057 9,989 -
10,064 15,454 10,000 99,550
4.04
92,151 -
-
5,005 28,036 -
59,110
9.72
2,024 2,024 -
-
-
-
-
Financial assets
Islamic papers
financing
Financial assets
Islamic papers
placement
124,331 1,183,277
3.68
122,615 103,449 5,850 9,440 3,876 -
-
Total
361,847
115,462
5,850
24,509
47,366
10,000
158,660
Company
2007
5.84
92,115
1,999
-
-
-
5,500
84,616
3.85
94,002
2,446
-
-
5,007
27,399
59,150
9.79
2,700
2,700
-
-
-
-
-
3.56
183,941
84,376
80,400
5,850
9,490
3,825
-
Total
372,758
91,521
80,400
5,850
14,497
36,724
143,766
Financial assets
Islamic papers
157
40 Prior year adjustments and changes in accounting policies
a) Prior year adjustments
During the current financial year, there was an adjustment relating to Family Takaful Fund of the Group due to revision
of reserves for future policies benefits for a subsidiary in Indonesia. The revision in reserves of approximately RM20.437
million was adjusted against the retained profit of Shareholders’ Fund and accumulated surplus brought forward of Family
Fund as at 1 July 2006 and 1 July 2007.
b) Changes in accounting policies
In the current financial year, the Company and the Group have adopted FRS 117 Leases (effective for accounting periods
beginning on or after 1 October 2006), the standard requires the classification of leasehold land as prepaid lease payments.
Appropriate disclosures were shown in Notes 3 and 4 respectively.
Accordingly, this change in accounting policy has been accounted for retrospectively and the comparatives as at 30 June
2007 were restated. Adoption of FRS 117 did not result in the retained profit to be restated.
c) Effect of the prior year adjustments and changes in accounting policies The financial effect of the prior year adjustments and the changes in accounting policies to the opening retained profits of
the Shareholders’ Fund and the respective Takaful funds as at 1 July 2006 and 2007 are as follows: Shareholders
Fund
Group
RM’000
Statement of Changes in Equity/Family Takaful Fund
Retained profit/Accumulated Fund as at 1 July 2006
130,255 Effect of prior year adjustments for revision of policy reserves
(22,500)
As restated
Family
Takaful
RM’000
2,121,092
22,500
107,755 2,143,592
Effect of prior year adjustments for revision of policy reserves
142,515
(23,433)
2,351,411
23,433
As restated
119,082
2,374,844
24,805 (933)
-
As restated
23,872 -
Family Takaful Revenue Account
-
-
553
933
As restated
-
1,486
Statement of Changes in Equity/Family Takaful Fund
Retained profit/Accumulated Fund as at 1 July 2007
Income Statement
Profit for the year
158
40 Prior year adjustments and changes in accounting policies (Continued)
c) Effect of the prior year adjustments and changes in accounting policies (continued)
The following comparative figures have been reclassified as a result of changes in accounting policies:
Group
Company
As restated As previously As restated As previously
stated
stated
RM’000
RM’000
RM’000
RM’000
Balance sheets
49,328 3,825 53,153 -
41,778 1,302 43,080
-
53,153
53,153 43,080 43,080
Management Expense
Depreciation
Amortisation of prepaid lease payments
20,692 (91)
20,601 -
15,922 (91)
15,831
-
20,601
20,601 15,831 15,831
Income Statements
41 Reserves
Subject to agreement by the Inland Revenue Board, the Company has sufficient Section 108 tax credit to frank approximately
RM47.4 million of its retained profits at 30 June 2008 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 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.
42 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. 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
have no adjusted income for tax purposes. As such, capital allowances claimable for the years of assessment from 1997 to
2008 would be lost permanently.
The Malaysian Takaful Association and the Company are in discussion with the Ministry of Finance (MOF) and Inland Revenue
Board for the capital allowances to be deducted from tax adjusted income in Shareholders’ Fund. No provision has been
made by the Company for the potential tax liabilities of the previous and current years pending the outcome of the said
discussion and future appeals. The potential tax exposure to the Company assuming that the deduction of capital allowances
in Shareholders’ Fund is rejected by the MOF is approximately RM11.4 million. In addition, the Company would have to
reverse its current balance of deferred tax asset which is in relation to unabsorbed capital allowances brought forward by
approximately RM9.0 million.
159
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
1
Lot 11 & 12
Plaza Melaka
Jalan Hang Tuah
75300 Melaka
Dua unit Rumah kedai/
Pejabat 4½ tingkat
Two units of 4½ storey
Shophouse/Office
Pegangan Bebas
Freehold
25
3,485/
14,434
1,486,314.00
30.06.2008
2
Lot 1 & 2
Kompleks
Perniagaan Fajar
91000 Tawau
Sabah
Tiga unit Kompleks
Perniagaan/
Pejabat 4 tingkat
Three units of 4 storey
Commercial Complex/
Office
Pajakan bandar 999
tahun berakhir pada
31.12.2895
999 years town lease
expiring on 31.12.2895
17
4,025/
6,037
2,115,000.00
30.06.2008
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
Freehold
22
3,095/
6,935
545,000.00
30.06.2008
4
No. 23
Medan Istana 3
Bandar Ipoh Raya
30450 Ipoh
Perak Darul Ridzuan
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
30.03.2081
99 years lease expiring
on 30.03.2081
13
1,539/
4,255
450,000.00
30.06.2008
5
No. 84
Batu 3 1/4
Jalan Gombak
53000 Kuala Lumpur
Pejabat 5 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
22
1,883/
8,700
870,000.00
30.06.2008
6
Lot 6966, Blok 59
Muara Tuang
Jalan Datok Mohd Musa
94300 Kota Samarahan
Sarawak
Pejabat 3 tingkat
Shophouse/Office
Pajakan 60 tahun
berakhir pada
31.12.2053
60 years lease expiring
on 31.12.2053
13
1,312/
3,750
650,000.00
30.06.2008
7
Lot 54 & 55
Bandar Wilayah Jasa
Jalan Bunga Raya
91112 Lahad Datu
Sabah
Pejabat 3 tingkat
Shophouse/Office
Pajakan bandar 99
tahun berakhir pada
31.12.2090
99 years town lease
13
2,400/
7,200
1,312,300.00
30.06.2008
8
No. 24
Jalan USJ 10/1B
47500 Subang Jaya
Pejabat 3 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
14
3,200/
9,600
3,564,616.00
30.06.2008
160
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
9
No. 15 & 17
Jalan Kelibang
Langkawi Mall
07000 Kuah, Langkawi
Kedah Darul Aman
Pejabat 2 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
15
1,440/
7,720
490,000.00
30.06.2008
10
No. 26 & 28
Jalan Perda Barat
Bukit Mertajam
Seberang Prai
14000 Penang
Pejabat 3 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
10
3,293/
8,840
1,100,000.00
30.06.2008
11
Lot 2, 3 & 4
Jalan Kulas
93400 Kuching
Sarawak
Tiga unit Rumah kedai/
Pejabat 3 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
13
4,817/
18,892
4,770,259.00
30.06.2008
12
No. 14 & 16
Jalan Ibrahim
81900 Kota Tinggi
Johor Darul Ta’zim
Pejabat 3 tingkat
Shophouse/Office
Pajakan 99 tahun
Lot 14 berakhir pada
08.05.2082
Lot 16 berakhir pada
04.12.2078
99 years lease
Lot 14 expiring on
08.05.2082
Lot 16 expiring on
04.12.2078
22
3,360/
8,544
800,000.00
30.06.2008
13
No. 312
Jalan Bandar 13
Taman Melawati
53100 Kuala Lumpur
Pejabat 4 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
14
1,920/
7,070
1,245,000.00
30.06.2008
14
Lot 9046, Fasa 1A
Jalan Haji Manan
86000 Kluang
Pejabat 4 tingkat
Shophouse/Office
Pajakan 99 tahun
99 years lease
12
2,658/
9,930
1,850,000.00
30.06.2008
15 No. 64 - D
Leboh Bishop
10200 Pulau Pinang
Satu unit bangunan
Pejabat 6 tingkat (9 level)
Office building (9 level)
Pegangan Bebas
Freehold
31
3,972/
19,630
4,950,000.00
30.06.2008
16 Darul Takaful
Jalan Sultan Ismail
50250 Kuala Lumpur
Satu unit bangunan
Pejabat 20 tingkat
Office building
Pegangan Bebas
Freehold
20
35,192/
98,485
60,000,000.00
30.06.2008
161
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
17
Lot 13 & 14
Lazenda Commercial
Centre
Jalan Okk Abdullah
87007 Labuan
Dua unit bangunan
Pejabat 3 tingkat
Office building
Pajakan 999 tahun
berakhir pada
30.06.2902
999 years lease
expiring on
30.06.2902
14
2,504/
7,200
1,709,788.00
30.06.2008
18
Lot 6967, Blok 59
Muara Tuang
Jalan Datok Mohd Musa
Sarawak
Pejabat 3 tingkat
Shophouse/Office
Pajakan 60 tahun
berakhir pada
31.12.2053
60 years lease
expiring on
31.12.2053
13
1,312/
3,750
650,000.00
30.06.2008
19
Lot 28, 30 & 32
Jalan 2/3A, Pasar Borong
68100 Selayang
Pejabat 4 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
11.03.2086
99 years lease
expiring on
11.03.2086
21
4,447/
16,800
2,040,000.00
30.06.2008
20
Lot 12680
Level 1 & Mezzanine
Jalan Bukit Timbalan
80000 Johor Bharu
Dua tingkat bangunan
Pejabat 13 tingkat
Two floors of 13 storey
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
10
9,432/
8,354
2,820,000.00
30.06.2008
21
Lot 12680
Level 3,
80000 Johor Bharu
Satu tingkat bangunan
Pejabat 13 tingkat
One floor of 13 storey
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
10
9,432/
6,594
1,650,000.00
30.06.2008
22
Lot 14(S1) & 15(S1)
Indah Point, Section 12
Pulau Indah
Industrial Park
42000 Klang,
West Port
Pejabat 4 tingkat (kosong)
Shophouse/Office (vacant)
Pajakan 99 tahun
berakhir pada
24.02.2097
99 years lease
expiring on
24.02.2097
9
3,300/
10,560
900,000.00
30.06.2008
23
No. 1 & 2
Jalan Kelicap
Taman Pekan Baru
34200 Parit Buntar
Perak Darul Ridzuan
Pejabat 2 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
05.09.2078
99 years lease
expiring on
05.09.2078
21
3,956/
7,044
700,000.00
30.06.2008
162
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
24
No. 46 & 47,
Darul Takaful
Jalan Rahmat
83000 Batu Pahat
Pejabat 4 tingkat
Two units of 4 Storey
Shophouse/Office
Pegangan Bebas
Freehold
19
3,220/
12,092
1,540,000.00
30.06.2008
25
No. 180 & 181
Jalan Tuan Hitam
22000 Jerteh
Terengganu Darul Iman
Pejabat 4 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
18
3,200/
12,250
1,430,000.00
30.06.2008
26
Lot 82, 84 & 86
Jalan Rugbi 13/30
Seksyen 13
40100 Shah Alam
Pejabat 2 tingkat
Shophouse/Office
Pegangan Bebas
Freehold
9
6,339/
11,309
2,240,000.00
30.06.2008
27
No. 229, Jalan Shahab 2
Shahab Perdana
Jalan Sultanah
Sambungan
05350 Alor Star
Kedah Darul Aman
Pejabat 2 1/2 tingkat
One unit of 2 1/2 storey
Shophouse/Office
Pegangan Bebas
Freehold
12
1,400/
3,570
260,000.00
30.06.2008
28
Lot No. 3803
Jalan Dato’ Ulu Muar
72000 Kuala Pilah
Negeri Sembilan Darul
Khusus
Pejabat 3 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
06.10.2079
99 years lease
expiring on
06.10.2079
9
2,001/
3,120
450,000.00
30.06.2008
29
No. 45
Jalan Teluk Sisek
25000 Kuantan
Pahang Darul Makmur
Pejabat 4 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
18.09.2068
99 years lease
expiring on
18.09.2068
8
3,200/
8,019
2,000,000.00
30.06.2008
30
Lot 21, 22, & 23
Pusat Komersil Temerloh
28000 Temerloh
Pahang Darul Makmur
Three units of 2 1/2 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
01.04.2095
99 years lease
expiring on
01.04.2095
8
4,195/
15,050
1,320,000.00
30.06.2008
163
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
31
No. 2 & 4
Jalan 6C/7
43650 Bandar
Baru Bangi
Pejabat 2 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
08.07.2086
99 years lease
expiring on
08.07.2086
21
6,383/
8,032
1,500,000.00
30.06.2008
32
Lot 14
Arab Malaysian Business
Centre
Jalan Pasar
70000 Seremban
Khusus
Pejabat 6 tingkat
Shophouse/ Office
Pegangan Bebas
Freehold
12
1,500/
14,589
3,375,000.00
30.06.2008
33
Tingkat Bawah &
Mezzanine
Wisma Abrar International
Lot 54, Seksyen 8
15350 Kota Bharu
Kelantan Darul Naim
Pejabat 81/2 tingkat
One floor of 81/2 storey
Office building
Pegangan Bebas
Freehold
11
7,925 *
3,700,000.00
30.06.2008
34
No. 29, Jalan Delima
Pusat Perdagangan Pontian
80000 Pontian
Pejabat 3 Tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
25.09.2097
99 years lease
expiring on
26.09.2097
7
3,899/
10,248
1,400,000.00
30.06.2008
35
Lot 11 & 12
Kompleks Seri Temin
Jalan Ibrahim
08000 Sungai Petani
Kedah Darul Aman
Pejabat 4 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
03.10.2080
99 years lease
expiring on
03.10.2080
23
2,800/
11,020
1,300,000.00
30.06.2008
36
Lot 1129 & 1130
Bangunan Darul Takaful
Jalan Sultan Ismail
20100 Kuala
Terengganu
Satu unit bangunan
Pejabat 12 tingkat
Office building
Pajakan kecil 45 tahun
berakhir pada
28.02.2047
45 years sub lease
expiring on
28.02.2047
6
3,600/
23,637
6,000,000.00
30.06.2008
37
No. 616 & 617
Jalan Besar
Bandar Tampin 73000
Khusus
Dua unit bangunan
Pejabat 2 tingkat
Office building
Pajakan 99 tahun
berakhir pada
05.10.2088
99 year lease
expiring on
05.10.2088
16
4,498/
8,685
950,000.00
30.06.2008
164
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
38 No. 6, Jalan 6C/7
43650 Bandar Baru Bangi
Pejabat 2 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
08.07.2086
99 year lease
expiring on
08.07.2086
21
1,905/
3,508
650,000.00
30.06.2008
39
Unit 3B/G
Tingkat Bawah
Blok 3B, Plaza Sentral
Jalan Stesen Sentral 5
50470 Kuala Lumpur
Pejabat 22 tingkat
One floor of 22 storey
Office building
Pegangan bebas
Freehold
7
6,409*
5,500,000.00
30.06.2008
40
No. 26 & 27
Jalan Tanjung
Pasar Baru
18500 Machang
Kelantan Darul Naim
Dua unit bangunan
Pejabat 2 tingkat
Office building
Pajakan 99 tahun
berakhir pada
13.11.2080
99 years lease
expiring on
13.11.2080
27
1,600/
4,000
560,000.00
30.06.2008
41
No. 330 & 331
Jalan Sultan Yahya Petra
15720 Kota Bharu
Kelantan Darul Naim
Dua unit bangunan
Two units of 4 1/2 storey
Office building
Pajakan 99 tahun
berakhir pada
09.12.2069
99 years lease
expiring on
09.12.2069
26
3,200/
15,200
1,700,000.00
30.06.2008
42
Dataran Kewangan
Darul Takaful
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Dua unit bangunan
Pejabat
Blok Utama - 26 tingkat
Blok Annex - 29 tingkat
Two units of
Office building
Main Block - 26 storey
Annex Block - 29 storey
Pegangan Bebas
Freehold
Blok Utama/
Main Block
- 35
Blok Annex/
Annexe Block
- 28
90,427/
393,508
140,000,000.00
30.06.2008
43
No. 2408
Taman Samudera
32040 Sri Manjung
Perak Darul Ridzuan
Pejabat 2 tingkat
Shophouse/Office
Pajakan 99 tahun
berakhir pada
19.05.2091
99 years lease
expiring on
19.05.2091
12
2,800/
5,300
840,000.00
30.06.2008
44
No. 76A & 76
Pusat Perniagaan
Jalan Tupai
34000 Taiping
Perak Darul Ridzuan
Dua unit bangunan
Pejabat 3 tingkat
Office building
Pegangan Bebas
Freehold
5
3,134/
18,304
1,530,000.00
30.06.2008
165
Maklumat Hartanah
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku
Bersih pada/
Net Book
Value as at
30.06.2008
(RM)
Tarikh
Penilaian
Semula/
Date of
Revaluation
45
No. 10 & 11
Jalan Sultan Yahya Petra
15200 Kota Bharu
Kelantan Darul Naim
Dua unit bangunan
Pejabat 3 tingkat
Office building
Pajakan 33 tahun
berakhir pada
08.09.2037
33 years lease
expiring on
08.09.2037
6
3,852/
9,120
1,800,000.00
30.06.2008
46
No. 4197
Jalan Teluk Wanjah
05200 Alor Star
Kedah Darul Aman
Satu unit bangunan
Pejabat 4 tingkat
Office building
Pegangan Bebas
Freehold
6
8,716/
18,440
3,700,000.00
30.06.2008
47 No. 10 & 8, Jalan Padi
Emas 5/2, Bandar Baru
UDA 81200
Johor Bharu,
Dua unit bangunan
Pejabat 3 tingkat
Two unit of 3 storey
Office building
Pajakan 99 tahun
berakhir pada
16.02.2099
99 years lease
3
3,080/
8,024
1,300,000.00
30.06.2008
48
No. 4, Kompleks
Seri Temin
Jalan Ibrahim
08000 Sungai Petani,
Kedah Darul Aman
Satu unit bangunan
Pejabat 4 tingkat
Office building
Pajakan 99 tahun
berakhir pada
03.10.2080
99 years lease
23
1,400/
5,510
650,000.00
30.06.2008
49 No. 16,
Jalan Cenderawasih
Jalan Kilang Lama 09000
Kulim,
Kedah Darul Aman
Satu unit bangunan
Pejabat 3 tingkat
Office building
Pegangan Bebas
Freehold
9
1,600/
4,172
370,000.00
30.06.2008
50 Lot 1340, Miri Waterfront
Commercial Centre,
98000 Miri
Sarawak
Satu unit bangunan
Pejabat 4 tingkat
Office building
Pajakan 60 tahun
berakhir 30.09.2052
60 years lease
4
1,400/
5,500
1,000,000.00
30.06.2008
51
Satu unit bangunan
Pejabat 3 tingkat
Office building
Pajakan 99 tahun
berakhir pada
16.02.2099
99 years lease
3
1,540/
4,012
650,000.00
30.06.2008
52 No. 148, Kompleks
Munshi Abdullah
75200 Melaka
Satu unit bangunan
Pejabat 4 ½ tingkat
One unit of 4 ½ storey
Office building
Pajakan 99 tahun
berakhir pada
23.04.2102
99 years lease
15
1,470/
6,117
790,000.00
30.06.2008
53
Dua unit bangunan
Pejabat 3 tingkat
Two unit of 3 storey
Office building
Pajakan 99 tahun
berakhir pada
29.06.2092
99 years lease
9
3,218/
9,280
1,300,000.00
30.06.2008
No. 6, Jalan Padi Emas
5/2, Bandar Baru UDA
81200 Johor Bharu,
No. 16474 & 16475,
Pusat Perniagaan
Inderapura, Jalan Tras
Raub,
Pahang Darul Makmur
Jumlah/Total
* Kawasan Bina/Build up Area
166
286,473,277.00
Modal Saham/Share Capital
Modal Dibenarkan
Authorised capital
: 500,000,000 saham biasa bernilai RM1.00 sesaham
500,000,000 ordinary shares of RM1.00 each
Modal yang diterbitkan dan dibayar sepenuhnya pada 10 Oktober 2008 : 162,817,000 saham biasa bernilai RM1.00 sesaham
Issued and fully paid-up capital as at 10 October 2008
162,817,000 ordinary shares of RM1.00 each
Jumlah pemegang saham pada 10 Oktober 2008
No. of shareholders as at 10 October 2008
: 1,670
Kelas saham
Class of shares
: Saham biasa bernilai RM1.00 sesaham
Ordinary shares of RM1.00 each
Hak mengundi
Voting right
: 1 undi bagi setiap saham biasa
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 (%)
106,183,675
65.22
Jumlah/Total
106,183,675
65.22
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Pegangan Saham Para Pengarah Pada 10 Oktober 2008
Directors’ Shareholdings as at 10 October 2008
Nama Pengarah
Name of Directors
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil Syarikat Takaful Malaysia Berhad l Laporan Tahunan 2008 Annual Report
167
Analisa Pegangan Saham Mengikut Saiz Pada 10 Oktober 2008
Analysis By Size Of Shareholdings as at 10 October 2008
Saiz Pegangan Saham
Size of Shareholdings
Kurang dari 100
Less than 100
Bilangan Pemegang Saham Number of Shareholders
Peratus (%)
Percentage (%)
Jumlah
Pegangan Saham
Number of
Shareholdings
Peratus (%)
Percentage (%)
54
3.23
1,400
0.00
234
14.01
161,605
0.09
1,138
68.14
3,646,450
2.24
10,001 - 100,000
191
11.45
6,214,700
3.82
100,001 sehingga kurang daripada 5% saham diterbitkan
100,001 to less than 5% of issued shares
52
3.11
46,609,170
28.63
5% dan lebih saham diterbitkan
5% and above of issued shares
1
0.06
106,183,675
65.22
1,670
100.00
162,817,000
100.00
100 - 1,000
1,001 - 10,000
Jumlah/Total
Tiga Puluh (30) Pemegang Saham Terbesar Pada 10 Oktober 2008
Thirty (30) Largest Shareholders as at 10 October 2008
Nama Pemegang Saham
Names of Shareholders
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
Employees Provident Fund Board
6,233,020
3.83
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.)
4,109,900
2.52
Lembaga Kemajuan Tanah Persekutuan (FELDA)
2,961,400
1.82
Majlis Agama Islam Negeri Sembilan
2,070,900
1.27
168
Nama Pemegang Saham
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
HSBC Nominees (Asing) Sdn Bhd
(Exempt An for Credit Suisse (SG BR-TST-Asing) )
1,883,200
1.16
Cimsec Nominees (Tempatan) Sdn Bhd
(Exempt An for CMS Trust Management Bhd)
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
Saleem Abdullatif Mustafa
1,283,000
0.79
Cheah Ah Heng @ Cheah Saw Choo
1,000,000
0.61
Majlis Agama Islam Melaka
998,250
0.61
Citigroup Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Cheah See Han (471145) )
830,700
0.51
Kumpulan Wang Simpanan Pekerja
500,000
0.31
Universiti Sains Malaysia
500,000
0.31
Mah Yu Lan 500,000
0.31
Mah Yu Lan
500,000
0.31
Citigroup Nominees (Tempatan) Sdn Bhd (Exempt An for Prudential Fund Management Berhad)
468,300
0.29
Mayban Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Yeoh Ah Tu)
448,000
0.28
A.A. Anthony Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Vimala Sgulboonrasi)
430,000
0.26
HDM Nominees (Asing) Sdn Bhd (DBS Vickers Secs (S) Pte Ltd for Mcneill Michael Mbamali)
413,000
0.25
Majlis Agama Islam Dan Adat Melayu Perak Darul Ridzuan
400,000
0.25
Amin Baitulmal Johor
400,000
0.25
Khoo Eng @ Khoo Bee Wah 400,000
0.25
Cartaban Nominees (Asing) Sdn Bhd
(Exempt An for Credit Industrial ET Commercial (AC Client) )
364,400
0.22
169
Nama Pemegang Saham
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
BHLB Trustee Berhad
Prusmall-Cap Fund
359,000
0.22
Miss Wipaporn Limprana
350,000
0.21
Rommel Josef
330,000
0.20
PKNS Infra Berhad
320,000
0.20
149,016,445
91.54
Jumlah/Total
170
Rangkaian Cawangan
Branch Network
WILAYAH PERSEKUTUAN
1. W01 Ibu Pejabat
No.4 Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 03–22681984
Faks : 03–22740237
Toll Free : 1–300–8–8252385
Web : http://www.takaful-malaysia.com
2. W03 Cawangan Jalan Tun Razak
Lot 1, Tingkat 17
Bangunan Ibu Pejabat Tabung Haji
201 Jalan Tun Razak
50400 Kuala Lumpur
Tel : 03–2162 1307
Fax : 03–2164 7446
3. W04 Cawangan KL Sentral
Lot CS / 3B / G, Tingkat Bawah
Plaza Sentral, Jalan Stesen Sentral 5
50470 Kuala Lumpur
Tel : 03–2273 7691
Fax : 03–2274 1907
4. W05 Cawangan Taman Melawati
No. 312C, Tingkat 2, Darul Takaful
Jalan Bandar 13, Taman Melawati
53100 Kuala Lumpur
Tel : 03–4106 5854
: 03–4106 3718
Fax : 03–4106 5869
5. W09 Cawangan Putrajaya
Tingkat 1, Blok E 16
Parcel E, Precinct 1 Anjung
62000 Putrajaya
Wilayah Persekutuan
Tel : 03–8889 5261
Fax : 03–8889 5262
6. KL01 Cawangan Kuala Lumpur
Tingkat Bawah, Blok Annex
Menara Tun Razak, Jalan Raja Laut
50350 Kuala Lumpur
Tel : 03–2698 7039
: 03–2698 7034
Fax : 03–2691 7511
7.
Z33 Treasury Business Centre
Aras 1, Blok Selatan
Perbendaharaan 2
Kompleks Kementerian Kewangan
No. 7, Persiaran Perdana
Presint 2, Pusat Pentadbiran Kerajaan Persekutuan
62592 Putrajaya
Wilayah Persekutuan
Tel : 03–8890 3588
Fax : 03–8890 3599
SELANGOR DARUL EHSAN
8. B01 Cawangan Klang
Lot 17, Tingkat 1, Jalan Taman
41400 Klang
Tel : 03–3341 8204
: 03–3344 8713
: 03–3344 6055
Fax : 03–3344 5724
9. B04 Cawangan Shah Alam S13
Tingkat Bawah, Darul Takaful
Lot No. 82, 84, 86
Jalan Rugbi 13/30, Seksyen 13
40100 Shah Alam
Tel : 03–5511 7943
: 03–5511 7944
: 03–5511 7945
: 03–5510 7668
Fax : 03–5511 7946
10. B06 Cawangan Petaling Jaya
No.10-2 & 12-2, Tingkat 1
Jalan 14/22, The Right Angle
46100 Petaling Jaya
Tel : 03–7955 2723
: 03–7957 9533
: 03–7958 3533
Fax : 03–7958 3533
11. B08 Cawangan Kajang
No. 5A, Plaza Kajang
Jalan Dato’ P. Algendra 1
43000 Kajang
Tel : 03–8734 6479
: 03–8737 6591
Fax : 03–8734 6480
171
Rangkaian Cawangan
Branch Network
12. B09 Cawangan Subang Jaya
No. 24, Tingkat 2, Darul Takaful
Jalan USJ 10/1B
47500 Subang Jaya
Tel : 03–5637 9387
Fax : 03–5637 9391
13. B10 Cawangan Tanjong Karang
No. 732 A, Tingkat Atas
Rumah Kedai Mara
45500 Tanjong Karang
Tel : 03–3269 3197
: 03–3269 8011
Fax : 03–3269 3712
14. B12Cawangan Shah Alam S9
No. 15, Tingkat 1
Jalan Tengku Ampuan Zabedah 9/B
Seksyen 9
40000 Shah Alam
Tel : 03–5519 6141
: 03–5510 5248
: 03–5510 2162
Fax : 03–5510 6249
15. B14 Pusat Perkhidmatan Pelanggan Carrefour
Lot F2.03, Tingkat F2, Carrefour Subang Jaya
No. 3 Jalan SS 16/1
47500 Subang Jaya
Tel : 03–5636 3221
Fax : 03–5637 3635
16. B15 Cawangan Rawang
No. 33A, Tingkat 1, Jalan Bandar Rawang 2
Pusat Bandar Rawang
48000 Rawang
Tel : 03–6092 6702
Fax : 03–6092 7372
172
KEDAH DARUL AMAN
17. K01 Cawangan Alor Setar
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
18. K02 Cawangan Sungai Petani
No. 4, Kompleks Seri Temin
Jalan Ibrahim
08000 Sungai Petani
Kedah Darul Aman
Tel : 04–421 4510
: 04–425 6588
: 04–423 0716
Fax : 04–425 7588
19. K03 Cawangan Kulim
No. 16, Taman Cenderawasih
Jalan Tuanku Putra
09000 Kulim
Kedah Darul Aman
Tel : 04–490 6306
: 04–495 0615
Fax : 04–491 1241
20. K04 Cawangan Jitra
No. 70, Tingkat 1, Kompleks Jitra
Jalan Sungai Korok
06000 Jitra
Kedah Darul Aman
Tel : 04–917 4090
: 04–917 3976
Fax : 04–916 2437
21. K05 Cawangan Baling
Lot 3, Tingkat 2, Bangunan Tabung Haji
Jalan Bandar Baru Baling
09100 Baling
Kedah Darul Aman
Tel : 04–470 4481
: 04–470 7980
Fax : 04–470 6711
Rangkaian Cawangan
Branch Network
22. K06 Cawangan Langkawi
Jalan Kelibang, Langkawi Mall
07000 Kuah
Kedah Darul Aman
Tel : 04–966 6242
: 04–966 0052
Fax : 04–966 6394
PERLIS INDERA KAYANGAN
23. R01 Cawangan Kangar
No. 55, Tingkat 1, Lorong Seruling
Jalan Bukit Lagi
01000 Kangar
Perlis Indera Kayangan
Tel : 04–976 2901
: 04–977 7804
: 04–977 1889
Fax : 04–977 7805
PULAU PINANG
24. P01 Cawangan Bandar Perda
No. 28, Jalan Perda Barat 1
Bandar Baru Perda
14000 Bukit Mertajam
Pulau Pinang
Tel :04–537 8573
:04–538 8479
Fax :04–537 8650
25. P02 Cawangan Bukit Jambul
8C-1, Jalan Tun Dr. Awang
Sungai Nibong Kecil, Bukit Jambul
11900 Bayan Lepas
Pulau Pinang
Tel : 04–641 2414
: 04–642 8211
Fax : 04–646 0255
26. P03 Cawangan Georgetown
No. 64-D, Aras 8, Darul Takaful
Leboh Bishop
10200 Georgetown
Pulau Pinang
Tel : 04–263 7719
: 04–263 8376
Fax : 04–263 8400
27. P05 Cawangan 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
28. P09 Cawangan Gelugor
No. 2480, Tingkat Bawah
Jalan Sultan Azlan Shah
11700 Gelugor
Pulau Pinang
Tel : 04–658 8240
Fax : 04–658 8243
PERAK DARUL RIDZUAN
29. A01 Cawangan Ipoh
No. 23A, Medan Istana 3
Bandar Ipoh Raya
30000 Ipoh
Perak Darul Ridzuan
Tel : 05–255 3888
: 05–242 1824
: 05–243 5201
Fax : 05–255 1462
30. A02 Cawangan 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
31. A03 Cawangan 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
173
Rangkaian Cawangan
Branch Network
32. A04 Cawangan Parit Buntar
No. 2, Tingkat 1
Jalan Kelichap, Pekan Baru
34200 Parit Buntar
Perak Darul Ridzuan
Tel : 05–716 1003
: 05–717 2653
Fax : 05–717 2733
33. A06 Cawangan 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
34. A07 Cawangan Kuala Kangsar
Lot. 556, Tingkat 2, Bangunan Tabung Haji
Jalan Daeng Selili
33000 Kuala Kangsar
Perak Darul Ridzuan
Tel : 05–777 3528
: 05–777 5842
Fax : 05–777 3529
35. A09 Cawangan Tapah
Lot 5990A, Tingkat 1
Jalan Raja
35000 Tapah
Perak Darul Ridzuan
Tel : 05–401 7576
: 05–401 5706
Fax : 05–401 6588
36. A10 Cawangan Tanjong Malim
Lot 427, No 35-1 Jalan Bunga Anggerik
Taman Bunga Raya
35900 Tanjung Malim
Perak Darul Ridzuan
Tel : 05–458 2115
: 05–459 6896
Fax : 05–458 2116
37. A12 Cawangan Bandar Seri Iskandar
No. 8A, Jalan Utama
Seri Iskandar Utama
32600 Bota
Perak Darul Ridzuan
Tel : 05–371 1178
Fax : 05–371 1179
174
NEGERI SEMBILAN DARUL KHUSUS
38. N01 Cawangan Seremban
Darul Takaful, Suite 14-4
Arab Malaysia Business Centre
Jalan Pasar
70000 Seremban
Negeri Sembilan Darul Khusus
Tel : 06–763 4604
: 06–763 0369
: 06–767 5306
Fax : 06–764 9528
39. N03 Cawangan Port Dickson
No. 320, Tingkat 1, Jalan Bandar
71000 Port Dickson
Tel : 06–647 1227
: 06–647 0568
Fax : 06–647 1211
40. N04 Cawangan Tampin
Lot. 40 & 41, Tingkat 1
Jalan Besar Pulau Sebang
73000 Tampin
Tel : 06–441 2363
: 06–441 9722
Fax : 06–441 9121
41. N07 Cawangan Bahau
No. 19, Tingkat 1, Jalan Mahligai
72100 Bahau
Tel : 06–454 0796
Fax : 06–454 0681
MELAKA BANDARAYA BERSEJARAH
42. M01 Cawangan Melaka
No. 95 G/7, Tingkat Bawah
Jalan Melaka Raya
24, Taman Melaka Raya
75000 Melaka
Tel : 06–284 9633
: 06–288 3054
Fax : 06–288 1341
Rangkaian Cawangan
Branch Network
43. M02 Cawangan Masjid Tanah
SU 953, Jalan Bandar Baru 6
Taman Bandar Baru Masjid Tanah
78300 Masjid Tanah
Melaka
Tel : 06–384 7233
Fax : 06–384 8533
44. M03 Cawangan Jasin
JA 6127, Tingkat Bawah
Taman Maju
77000 Jasin
Melaka
Tel : 06–529 1067
Fax : 06–529 8418
48. J04 Cawangan Batu Pahat
Tingkat 2, No. 46 & 47, Darul Takaful
Jalan Rahmat
83000 Batu Pahat
Tel : 07–434 8560
: 07–432 5673
Fax : 07–433 2729
49. J05 Cawangan Mersing
No. 39, Tingkat 1, Jalan Wawasan 1
Taman Wawasan
86800 Mersing
Tel : 07–799 1898
: 07–799 7901
Fax : 07–799 5152
JOHOR DARUL TA’ZIM
45. J01 Cawangan Johor Bahru
No. 8, Aras 3, Menara Perisind
80000 Johor Bahru
Tel : 07–224 0369
: 07–224 5426
: 07–226 4645
Fax : 07–224 2089
46. J02 Cawangan Pontian
No. 52, Lot PTB 12821, Jalan Delima
Pusat Perdagangan Pontian
82000 Pontian
Tel : 07–687 0727
: 07–687 1359
Fax : 07–687 1381
47. J03 Cawangan Muar
No. 5-4, Tingkat Bawah
Jalan Ibrahim
84000 Muar
Tel : 06–952 8808
: 06–955 6206
: 06–952 2102
Fax : 06–953 1609
50. J06 Cawangan Kluang
20, Tingkat 2, Darul Takaful
Jalan Haji Manan
86000 Kluang
Tel : 07–774 1053
: 07–772 1757
Fax : 07–776 8285
51. J08 Cawangan Segamat
No. 28A, Tingkat 1
Jalan Buluh Kasap
85000 Segamat
Tel : 07–932 2217
Fax : 07–933 3046
52. J09 Cawangan Pasir Gudang
No. 24, Tingkat Bawah
Pusat Perdagangan Pasir Gudang
Jalan Bandar
81700 Pasir Gudang
Tel : 07–252 0910
: 07–252 1679
Fax : 07–252 0919
175
Rangkaian Cawangan
Branch Network
PAHANG DARUL MAKMUR
53. C01 Cawangan Kuantan
Darul Takaful, No. 45, Tingkat 3
Jalan Teluk Sisek
25000 Kuantan
Pahang Darul Makmur
Tel : 09–514 1799
: 09–513 8980
: 09–513 0155
Fax : 09–513 1902
54. C02 Cawangan 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
55. C03 Cawangan Raub
No. 41, Tingkat 1
Jalan Datuk Abdullah
27650 Raub
Pahang Darul Makmur
Tel : 09–355 5277
Fax : 09–355 8699
56. C08 Cawangan Pekan
Tingkat 1, No. 44, Mezzanine Floor
Jalan Tengku Ariff Bendahara
26600 Pekan
Pahang Darul Makmur
Tel : 09–422 8896
Fax : 09–422 6952
58. T02 Cawangan Kemaman
Lot 2.07 & 2.08, Tingkat 2
Wisma Serangkai
Jalan Sulaimani, Cukai
24000 Kemaman
Tel : 09–859 4796
: 09–858 6878
Fax : 09–858 3455
59. T03 Cawangan Jerteh
Lot 318, Tingkat 1
Jalan Tangki Air
Taman Jerteh
22000 Jerteh, Besut
Tel : 09–697 1989
: 09–690 4571
Fax : 09–690 4529
60. T04 Cawangan Dungun
K-17, Tingkat Bawah
Jalan Baru Pak Sabah
23000 Dungun
Tel : 09–848 3022
: 09–845 6871
Fax : 09–845 8550
61. T06 Cawangan Kerteh
Lot 7155, Tingkat 1, Jalan Guntong 2
Bandar Seri Kerteh
24300 Kerteh
Tel : 09–826 6926
Fax : 09–826 6980
KELANTAN DARUL NAIM
TERENGGANU DARUL IMAN
57. T01 Cawangan 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
176
62. D01 Cawangan 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
: 09–747 8700
: 09–744 1408
: 09–743 9362
Fax : 09–748 6864
Rangkaian Cawangan
Branch Network
63. D02 Cawangan Machang
Lot 27, Tingkat 1
Jalan Tanjung
18500 Machang
Kelantan Darul Naim
Tel : 09–975 1789
: 09–975 8553
Fax : 09–975 7626
64. D03 Cawangan Pasir Mas
Lot 215, Tingkat 1
Jalan Pasir Mas- Kota Bharu
17000 Pasir Mas
Kelantan Darul Naim
Tel : 09–790 2126
Fax : 09–791 3541
65. D05 Cawangan Gua Musang
Lot 4 & 5, Tingkat 1
Bangunan Tabung Haji Gua Musang
18300 Gua Musang
Kelantan Darul Naim
Tel : 09–912 4631
Fax : 09–912 5861
68. Q04 Cawangan Sibu
No. 10H, Lot. 1735, Tingkat 1
Bangunan Koperasi Seduan
Jalan Kampong Datuk
96000 Sibu
Sarawak
Tel : 084–348 346
Fax : 084–325 276
69. Q05 Cawangan Mukah
Lot 508-8, Tingkat 1
Mukah Newtownship
Jalan Orang Kaya Setiaraja
96400 Mukah
Sarawak
Tel : 084–873 734
Fax : 084–873 761
70. Q07 Cawangan Kota Samarahan
Lot 6967, Darul Takaful
Jalan Dato’ Mohd Musa
Sarawak
Tel : 082–672 545
Fax : 082–672 560
SARAWAK
66. Q01 Cawangan 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
67. Q03 Cawangan 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
SABAH
71. S01 Cawangan 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
72. S02 Cawangan Tawau
TB 268, Tingkat 1
Jalan Mahkamah
Kompleks Fajar
91000 Tawau
Sabah
Tel : 089–776 510
: 089–770 960
Fax : 089–756 697
177
Rangkaian Cawangan
Branch Network
73. S03 Cawangan Labuan
Lot 14, Tingkat 2, Darul Takaful
Lazenda Commercial Centre
Jalan Okk Abdullah
87007 Wilayah Persekutuan Labuan
Tel : 087–424 860
Fax : 087–418 418
74. S04 Cawangan Lahad Datu
Bandar Wilayah
91112 Lahad Datu
Sabah
Tel : 089–889 130
Fax : 089–889 490
75. S05 Cawangan Sandakan
Lot 1, Blok 12, Tingkat 1
Bandar Indah Sandakan
88850 Sandakan
Sabah
Tel : 089–227 916
: 089–224 846
Fax : 089–227 792
76. S07 Cawangan Keningau
Lot 10, Tingkat 1
Padasa Commercial Komplex
P.O. Box 709
89008 Keningau
Sabah
Tel : 087–336 980
: 087–338 805
Fax : 087–337 053
178
SYARIKAT-SYARIKAT SUBSIDIARI
1. 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
2. P.T. 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 : 6221–790 1435
: 6221–790 1944
3. P.T. Asuransi Takaful Keluarga
Graha B, Graha Takaful Indonesia
No. 100, Jakarta
12790 Indonesia
Tel : 6221–799 1234
: 6221–799 2345
Fax : 6221–790 1435
: 6221–790 1944
4. P.T. Asuransi Takaful Umum
Graha A, Graha Takaful Indonesia
No. 100, Jakarta
12790 Indonesia
Tel
: 6221–799 1234
: 6221–799 2345
Fax : 6221–790 1435
: 6221–790 1944
Borang Proksi/Proxy Form
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 TIGA yang akan diadakan pada hari Rabu, 10 Disember 2008 jam 9:30 pagi dan pada sebarang penangguhannya.
as my / our proxy to vote for me / us on my / our behalf at the TWENTY THIRD ANNUAL GENERAL MEETING OF SYARIKAT TAKAFUL MALAYSIA BERHAD,
to be held on Wednesday, 10 December 2008 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
MENYOKONG/
FOR 1
Menerima dan menimbang Penyata-Penyata Kewangan yang telah diaudit bagi tahun kewangan
berakhir 30 Jun 2008, beserta laporan Pengarah dan Juruaudit berkaitan dengannya.
To receive and adopt the Audited Financial Statements for the financial year ended
30 June 2008, together with the reports of the Directors and Auditors thereon.
2
Untuk meluluskan dividen akhir bagi tahun kewangan berakhir 30 Jun 2008.
To approve the final dividend in respect of the financial year ended 30 June 2008.
Melantik semula Pengarah-Pengarah berikut:To re-elect the following Directors:-
3
4
5
6
7
Untuk meluluskan bayaran yuran Pengarah-Pengarah.
To approve the payment of the Directors’ fees.
8
Untuk meluluskan bayaran yuran Ahli-Ahli Badan Penasihat Syariah.
To approve the payment of the Shariah Advisory Body Members’ fees.
9
Untuk melantik semula Juruaudit dan memberi kuasa kepada Pengarah-Pengarah untuk
menetapkan bayaran Juruaudit.
To re-appoint Auditors and authorise the Directors to fix their remuneration.
10
Meluluskan urusan khas menurut Seksyen 132D, Akta Syarikat 1965.
To pass the special business pursuant to Section 132D, Companies Act 1965.
11
Cadangan Pembaharuan Mandat Pemegang Saham bagi Urusniaga Berulang Pihak Berkaitan.
Proposed Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions.
MENENTANG/
AGAINST
JUMLAH SAHAM
NO. OF SHARES
Pada / Dated this …… haribulan / day of …. 2008
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 26th Floor, Annexe Block, 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
Syarikat Takaful Malaysia Berhad (131646-K)
Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
Tel : 603-2268 1984
Fax : 603-2274 2864

Untitled - Takaful Malaysia

Transcription

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