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Transcription

RASIONAL
M U K A D E PA N
C OVE R
R AT I O N A L E
Jendela melambangkan komitmen KPS dalam
menyediakan kemudahan dan perkhidmatan yang
berkualiti. Panoramanya pula mencerminkan misi
KPS menggabungkan perkhidmatan infrastruktur dan
utiliti moden dengan pembangunan yang mesra
alam. Struktur yang kelihatan menggambarkan
kejayaan Kumpulan dalam menyediakan gaya hidup
berkualiti dan berprestij dengan memandang jauh
ke hadapan. Persekitaran yang segar dan hijau
menyampaikan mesej bahawa KPS adalah sebuah
organisasi yang prihatin, berorientasikan masyarakat
dan mengutamakan kehidupan yang sihat.
The window symbolises the commitment of KPS
to provide quality facilities and services to the
people we serve. The visual from the window
illustrates KPS’s mission of integrating modern
infrastructure and utility services with environmental friendly development. The structures seen in the
picture portray the achievements of the Group in
providing quality and prestigious lifestyles yet with a
propensity for looking far beyond to be able to deliver.
The lush, green environment represents KPS as a
caring and community-oriented organisation that
promotes healthy living.
VISI
VISION
Menerajui pembekalan perkhidmatan Infrastruktur
dan Utiliti yang bersepadu, mencipta warisan
kemegahan dan kecemerlangan untuk rakyat.
The leading integrated provider of Infrastructure
and Utility services,leaving a legacy of pride and
accomplishment for the people.
MISI
MISSION
•
Menerajui dan mencapai kecemerlangan
di peringkat antarabangsa dalam industriindustri yang kami ceburi.
•
Lead and achieve a global presence in the
industries we operate.
•
•
Menerokai dan menyertai peluang-peluang
perniagaan berdaya maju yang melibatkan
bidang Infrastruktur dan Utiliti.
Venture and participate in viable business
with linkages to the Infrastructure and Utility
industries.
•
•
Memastikan persekitaran kerja berkualiti
yang memberi inspirasi kepada warga kerja
kami untuk mencapai prestasi tinggi.
Ensure a quality working environment,which
inspires our employees to superior standards
of performance.
•
•
Memastikan prestasi kewangan yang mampan
dengan pulangan optimum kepada para
pemegang saham.
Ensure sustainable financial performance with
optimum returns to shareholders.
•
Maintain quality Infrastructure and Utility
services which surpass customers’ expectations.
•
Always recognised as a caring, community
oriented and environmental friendly organisation.
•
•
Mengekalkan perkhidmatan Infrastruktur dan
Utiliti berkualiti yang melebihi jangkaan para
pelanggan.
Sentiasa dikenali sebagai organisasi yang
prihatin, berorientasikan masyarakat dan
mesra alam.
Kumpulan Perangsang Selangor Berhad
1
SLOGAN KAMI
OUR SLOGAN
Mencipta Satu Dimensi Baru ke Arah
Kemudahan dan Perkhidmatan yang
Berkualiti
Creating A New Dimension to
Quality Facilities and Services
NOTIS
MESYUARAT AGUNG TAHUNAN
NOTICE OF
ANNUAL GENERAL MEETING
DENGAN INI DIMAKLUMKAN BAHAWA Mesyuarat
Agung Tahunan Kumpulan Perangsang Selangor Berhad
yang ke Dua Puluh Tujuh akan diadakan di Kayangan
Ballroom,Quality Hotel Shah Alam, Persiaran Perbandaran,
40000 Shah Alam pada hari Selasa,15 Jun 2004,jam 3.00
petang untuk membincangkan perkara-perkara berikut:
AGEND A
1. Menerima dan meluluskan Penyata Kewangan yang
telah diaudit bagi tahun kewangan berakhir 31 Disember
2003 dan Laporan Pengarah dan Juruaudit mengenainya.
(Resolusi 1)
2. Meluluskan dividen akhir sebanyak 2% tolak 28% cukai
pendapatan bagi tahun berakhir 31 Disember 2003.
(Resolusi 2)
3. Melantik semula Pengarah-Pengarah berikut yang akan
bersara menurut Artikel 84 Tataurusan Syarikat, dan
oleh kerana layak,telah menawarkan diri mereka untuk
perlantikan semula:
i.
YBhg Dato’ Haji Ab. Halim bin Mohyiddin
(Resolusi 3)
ii. YBhg Dato’ Haji Sumadi bin Haji Ismail
(Resolusi 4)
iii. YB Senator Dato' Ikhwan Salim bin Dato’ Sujak
(Resolusi 5)
4. Meluluskan yuran Pengarah sebanyak RM284,767.00
bagi tahun kewangan berakhir 31 Disember 2003.
(Resolusi 6)
5. Melantik semula Tetuan PricewaterhouseCoopers
sebagai Juruaudit dan memberi kuasa kepada Lembaga
Pengarah untuk menetapkan ganjaran mereka.
(Resolusi 7)
SEBAGAI URUSAN KHAS:
NOTICE IS HEREBY GIVEN THAT the Twenty Se venth
Annual General Meeting of Kumpulan Perangsang
Selangor Berhad will be held at the Kayangan Ballroom,
Quality Hotel Shah Alam, Persiaran Perbandaran, 40000
Shah Alam on Tuesday, 15 June 2004 at 3.00 p.m. for the
following purposes:
AGEND A
1. To receive and adopt the Audited Financial Statements
for the financial year ended 31 December 2003 and
the Reports of the Directors and Auditors thereon.
(Resolution 1)
2. To approve a final dividend of 2% less 28% income tax
for the year ended 31 December 2003.
(Resolution 2)
3. To re-elect the following Directors who retire in
accordance with Article 84 of the Company's Articles
of Association, and being eligible, have offered
themselves for re-election:
i.
YBhg Dato' Haji Ab. Halim bin Mohyiddin
(Resolution 3)
ii. YBhg Dato' Haji Sumadi bin Haji Ismail
(Resolution 4)
iii. YB Senator Dato’ Ikhwan Salim bin Dato’ Sujak
(Resolution 5)
4. To approve the Directors' Fees of RM284,767.00 for
the financial year ended 31 December 2003.
(Resolution 6)
5. To re-appoint Messrs PricewaterhouseCoopers as
Auditors of the Company and to authorise the
Directors to fix their remuneration.
(Resolution 7)
Bagi menimbang dan sekiranya difikirkan wajar, meluluskan
dengan atau tanpa sebarang pindaan,Resolusi Biasa berikut:
AS SPECIAL BUSINESS:
6. Kuasa untuk Penerbitan Saham
To consider and, if thought fit, pass with or without any
modifications,the following Ordinary Resolution:
"BAHAWA dengan ini, Lembaga Pengarah diberi kuasa
menurut Seksyen 132D Akta Syarikat, 1965, untuk
menerbitkan saham Syarikat ini pada bila-bila masa
sehingga tamatnya Mesyuarat Agung Tahunan Syarikat ini
yang akan datang,tertakluk kepada terma dan syarat yang
telah ditentukan dan untuk tujuan-tujuan yang difikirkan
wajar oleh Lembaga Pengarah,dengan syarat jumlah saham
yang diterbitkan tidak melebihi 10% daripada modal saham
terbitan Syarikat pada masa ini.”
(Resolusi 8)
6. Authority for Allotment of Shares
"THAT pursuant to Section 132D of the Companies Act,
1965,the Board of Directors be and are hereby empowered
to issue shares in the Company at any time until the
conclusion of the next Annual General Meeting and upon
such terms and conditions and for such purposes as the
Board of Directors may, in its absolute discretion,deem
fit provided that the aggregate number of shares to be
issued does not exceed 10% of the issued share capital of
Company for the time being. “
(Resolution 8)
3
7. Melaksanakan sebarang urusan biasa yang lain di mana
notis secukupnya telah diberikan.
NOTIS
KELAYAKAN
MENERIMA
PEMBA YARAN DIVIDEN
DAN
NOTIS ADALAH JUGA DENGAN INI DIBERIKAN
bahawa dividen akhir sebanyak 2% tolak 28% cukai
pendapatan,sekiranya diluluskan oleh pemegang-pemegang
saham, akan dibayar pada 13 Ogos 2004 kepada
pemegang-pemegang saham yang berdaftar dalam Rekod
Pendeposit pada penutupan perniagaan pada 21 Julai 2004.
7. To transact any other ordinary business for which
due notice has been given.
NOTICE OF DIVIDEND ENTITLEMENT AND
PA YMENT
Seseorang pendeposit akan layak untuk haknya hanya
berhubung dengan:
NOTICE IS ALSO HEREBY GIVEN that a final dividend
of 2% less 28% income tax, if approved by shareholders,
will be payable on 13 August 2004 to shareholders
registered in the Records of Depositors at the close of
business on 21 July 2004.
a) saham-saham yang dipindahkan kepada Akaun
Sekuriti Pendeposit sebelum jam 4.00 petang pada
19 Julai 2004 berhubung dengan saham biasa.
A depositor shall qualify for entitlement only in respect of:
b) Saham-saham yang dibeli pada Bursa Malaysia atas
dasar keberhakan bersama selaras dengan peraturanperaturan Bursa Malaysia.
a) shares transferred to the Depositor’s Securities
Account before 4.00 p.m. on 19 July 2004 in respect
of ordinary shares.
b) Shares bought on the Bursa Malaysia on a cum
entitlement basis according to the Rules of the Bursa
Malaysia.
Dengan Perintah Lembaga Pengarah
By Order of the Boar
DATIN PADUKA JUMA'AH BINTI MOKTAR
(MACS 00664)
HASHIMAH BINTI MOHD ISA (LS 8798)
Setiausaha-Setiausaha Syarikat
Shah Alam
25 Mei 2004
Nota-Nota:
1. Setiap ahli Syarikat ini yang berhak menghadiri dan
mengundi di mesyuarat ini,berhak melantik seorang atau
lebih proksi (atau melantik seorang wakil, bagi syarikat
yang diperbadankan) untuk menghadiri dan mengundi
bagi pihaknya.Setiap proksi tidak semestinya seorang ahli
Syarikat ini.
2. Borang Proksi mestilah ditandatangani oleh orang yang
melantiknya atau wakilnya yang diberi kuasa secara
bertulis. Bagi syarikat yang diperbadankan,ianya hendaklah
dilaksanakan dengan menggunakan Cop Mohor Syarikat
atau ditandatangani oleh wakilnya yang diberi kuasa secara
bertulis atau oleh pegawainya,bagi pihak syarikat tersebut.
3. Surat cara perlantikan proksi hendaklah dihantar ke
Pejabat Pendaftar Syarikat,tidak lewat dari empat puluh
lapan (48) jam sebelum waktu yang ditetapkan bagi
mesyuarat tersebut atau sebarang penangguhannya.
d
DATIN PADUKA JUMA'AH BINTI MOKTAR
(MACS 00664)
HASHIMAH BINTI MOHD ISA (LS 8798)
Company Secretaries
Shah Alam
25 May 2004
Notes:
1. A member of the Company entitled to attend and vote at
the meeting is entitled to appoint one or more proxies (or
in the case of a corporation,to appoint a representative)
to attend and vote in his stead.A proxy need not be a
member of the Company.
2. The Proxy Form must be signed by the appointer or his
attorney duly authorised in writing. In the case of a
corporation, it shall be executed under its Common Seal
or signed by its attorney duly authorised in writing or by
an officer on behalf of the corporation.
3. The instrument appointing the proxy must be deposited
at the Registrar of Companies not less than forty-eight
(48) hours before the time appointed for holding the
meeting or any adjournment thereof.
NOTA PENJELASAN
Resolusi Biasa 8, jika diluluskan, akan memberi para
Pengarah Syarikat kuasa untuk menerbitkan saham-saham
Syarikat atas budi bicara mereka pada bila-bila masa tanpa
mengadakan Mesyuarat Agung. Kuasa ini,kecuali dimansuhkan
atau diubah oleh Syarikat dalam Mesyuarat Agung, akan
luput pada Mesyuarat Agung Tahunan yang akan datang.
PENY ATA BERSAMA NOTIS MESYU
AGUNG TAHUNAN
ARA T
1. Para Pengarah yang menawarkan diri untuk dipilih
semula di Mesyuarat Agung Tahunan Syarikat yang
ke Dua Puluh Tujuh adalah seperti berikut:
(Resolusi 3)
(Resolusi 4)
(Resolusi 5)
EXPLANA TORY NOTES
Ordinary Resolution 8, if passed, will give the Directors
of the Company authority to issue ordinary shares in the
Company at any time at their absolute discretion without
convening a General Meeting.This authorisation will,unless
revoked or varied by the Company at a General Meeting,
expire at the next Annual General Meeting.
ST ATEMENT A CCOMP ANYING NOTICE OF
ANNUAL GENERAL MEETING
i.
Profil para Pengarah yang akan dipilih semula terdapat
di muka surat 32 hingga 33.
2. Butir-butir mengenai kehadiran para Pengarah di Mesyuarat
Lembaga Pengarah.
Empat (4) Mesyuarat Lembaga Pengarah telah diadakan
sepanjang tahun kewangan berakhir 31 Disember 2003.
Butir-butir kehadiran para Pengarah di Mesyuarat
Lembaga Pengarah dikemukakan pada muka surat 43.
3. Tempat,tarikh dan waktu Mesyuarat Lembaga Pengarah.
Tiga Mesyuarat Lembaga Pengarah telah diadakan di Bilik
Mesyuarat Lembaga,Tingkat 17,Plaza Perangsang, Persiaran
Perbandaran,40000 Shah Alam,Selangor kecuali Mesyuarat
Lembaga Pengarah bertarikh 12 Jun 2003 telah diadakan
di Kayangan Ballroom,Quality Hotel Shah Alam, Persiaran
Perbandaran,40000 Shah Alam.
Tarikh
7 Mac 2003
12 Jun 2003
26 Ogos 2003
20 November 2003
Waktu
9.30 pagi
10.00 pagi
3.30 petang
10.00 pagi
1. Directors who are standing for re-election at the
Twenty Seventh Annual General Meeting of the
Company are:
i.
(Resolution 3)
(Resolution 4)
(Resolution 5)
The profile of the Directors standing for re-election are
on pages 32 to 33.
2. Details of Attendance of Directors at Board Meetings.
Four (4) Board of Directors Meeting were held during
the financial year ended 31 December 2003. Details of
attendance of Directors at the Board Meetings are set
out on page 43.
3. Place, date and time of the Board of Directors' Meetings.
Three (3) of the Board Meetings were held at the Board
Room,17th Floor, Plaza Perangsang,Persiaran Perbandaran,
40000 Shah Alam, Selangor whereby the Board Meeting
dated 12 June 2003 was held at Kayangan Ballroom,
Quality Hotel Shah Alam, Persiaran Perbandaran, 40000
Shah Alam.
Date
7 March 2003
12 June 2003
26 August 2003
20 November 2003
Time
9.30 a.m.
10.00 a.m.
3.30 p.m.
10.00 a.m.
5
SOROTAN KEWANGAN KUMPULAN
GROUP’S FINANCIAL HIGHLIGHTS
SOROTAN KEWANGAN
KUMPULAN BAGI TAHUN
BERAKHIR 31 DISEMBER
GROUP'S FINANCIAL
HIGHLIGHTS FOR THE
YEAR ENDED 31 DECEMBER
1999
2000
RM '000 RM '000
1
Perolehan/Revenue
2
3
4
2001
RM '000
2002
2003
RM '000 RM '000
274,488
184,786
198,886
175,822
237,634
Keuntungan/(Kerugian) Daripada Aktiviti
Biasa Sebelum Cukai
Profit/(Loss) From Ordinary Activities Before Tax
25,703
44,838
62,954
82,955
106,958
Keuntungan/(Kerugian) Daripada Aktiviti
Biasa Selepas Cukai
Profit/(Loss) From Ordinary Activities After Tax
22,314
28,729
37,598
49,320
69,769
Keuntungan/(Kerugian) Yang Boleh Diagihkan
Kepada Pemegang-pemegang Saham
Profit/(Loss) Attributable To Shareholders
25,070
22,415
56,185
44,666
56,964
7,058
7,058
7,058
7,058
8,628
5
Dividen Kasar/Gross Dividend
6
Modal Berbayar/Paid-up Capital
100,827
100,827
100,827
100,827
431,404
7
Dana Pemegang Saham/Shareholders' Fund
524,886
539,179
596,160
626,166
803,397
8
Jumlah Aset Digunakan/Total Assets Employed
9
Jumlah Pinjaman/Total Borrowings
1,387,900 1,417,483 1,258,224 1,326,343 2,194,063
172,182
218,801
241,982
272,206
371,322
Nisbah-nisbah K ewangan/ Financial Ratios
1
Pertumbuhan Perolehan (%)/Turnover Growth (%)
(33%)
(33%)
8%
(12%)
35%
2
Pertumbuhan Keuntungan Sebelum Cukai (%)
Profit Growth Before Tax (%)
288%
74%
40%
32%
29%
Keuntungan/(Kerugian) Sebelum Cukai Sebagai
Peratusan Ke Atas Dana Pemegang Saham (%)
Profit/(Loss) Before Tax As A Percentage (%)
Of Shareholders Fund
5%
8%
11%
13%
13%
Pelaburan Dalam Syarikat Bersekutu
Sebagai Peratusan Ke Atas Jumlah Aset (%)
Investment In Associates As A Percentage
Of Total Assets (%)
5%
15%
24%
29%
20%
Dividen Kasar Sesaham (%)
Gross Dividend Per Share (%)
7%
7%
7%
7%
2%
0.33
0.41
0.41
0.43
0.46
25
22
56
13
14
4.71
5.02
5.67
6.02
1.76
3
4
5
6
Hutang/Ekuiti (Kali)/Debt/Equity (Times)
7
Pendapatan/(Kerugian) Bersih Sesaham (Sen)
Net Earnings/(Loss) Per Share (Sen)
8
Aset Ketara Bersih Sesaham (RM)
Net Tangible Assets Per Share (RM)
Nota:
Maklumat kewangan bagi tahun kewangan 2003 melaporkan kedudukan Kumpulan KPS dengan mengambilkira kesan-kesan selepas
penggabungan korporat.
Skim penggabungan korporat telah selesai apabila KPS disenaraikan di Bursa Malaysia (sebelum ini dikenali sebagai Bursa Saham Kuala
Lumpur) pada 22 Julai 2003.
Notes:
The financial highlights for financial year 2003 represent the post corporate merger results of KPS Group.
The corporate merger scheme was completed when KPS was listed on the Bursa Malaysia (formerly known as Kuala Lumpur Stock
Exchange) on 22 July 2003.
1999
RM '000
2000
RM '000
1,082,649
363,483
459,010
492,609
733,303
1B Liabiliti Semasa/Current Liabilities
682,403
717,965
485,236
466,589
715,168
1
Aset/(Liabiliti) Semasa Bersih
Net Current Assets/(Liabilities)
400,246 (354,482)
(26,226)
26,020
18,135
2
Jumlah Pelaburan Di Dalam Syarikat-syarikat Bersekutu
Total Investments In Associates
3
Aset Tetap/Fixed Assets
4
1A Aset Semasa/Current Assets
2001
2002
2003
RM '000 RM '000 RM '000
68,949
209,874
305,595
387,153
436,341
118,875
251,196
245,335
234,532
314,655
Lain-Lain Pelaburan/Other Investments
55,339
86,251
101,383
59,256
57,309
5
Aset Tidak Ketara/Intangible Assets
46,336
27,444
21,922
16,358
44,092
6
Pembangunan Dan Perbelanjaan Hartanah
Development And Land Expenditure
-
204,814
122,195
133,487
591,110
7
Penerimaan Jangka Panjang/Long Term Receivables
11,841
268,377
-
-
16,500
8
Perbelanjaan Tertunggak/Deferred Expenditure
3,911
6,044
2,784
2,948
753
9
Liabiliti Jangka Panjang/Long Term Liabilities
10 Cukai Tertunggak/Deferred Taxation
(81,355)
(62,251) (100,575) (156,997) (283,409)
(903)
(881)
(149)
-
(51,232)
(31,007)
(27,914)
(24,501)
(20,161)
(18,227)
12 Liabiliti Tertunggak/Deferred Liabilities
(2,454)
(2,917)
(3,477)
(3,677)
(4,667)
13 Kepentingan Minoriti/Minority Interest
(64,248)
(65,805)
(47,607)
(52,290) (317,631)
525,530
539,750
596,679
626,629
803,729
100,827
100,827
100,827
100,827
431,404
76,654
75,621
29,819
29,819
75,299
347,405
362,731
465,514
495,520
296,694
524,886
539,179
596,160
626,166
803,397
644
571
519
463
332
525,530
539,750
596,679
626,629
803,729
11 Pendapatan Tertunggak/Deferred Income
14 Modal Saham/Share Capital
15 Rizab/Reserves
16 Keuntungan Terkumpul/Retained Profit
17 Rizab Dana Terikat/Sinking Fund Reser ve
Nota:
Maklumat kewangan bagi tahun kewangan 2003 melaporkan kedudukan Kumpulan KPS dengan mengambilkira kesan-kesan selepas
penggabungan korporat.
Skim penggabungan korporat telah selesai apabila KPS disenaraikan di Bursa Malaysia (sebelum ini dikenali sebagai Bursa Saham Kuala
Lumpur) pada 22 Julai 2003.
Notes:
The financial highlights for financial year 2003 represent the post corporate merger results of KPS Group.
The corporate merger scheme was completed when KPS was listed on the Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange)
on 22 July 2003.
9
10 Kumpulan Perangsang Selangor Berhad
Muka surat ini sengaja dibiarkan kosong.
This page has been deliberately left blank.
PERUTUSAN PENGERUSI EKSEKUTIF
EXECUTIVE CHAIRMAN’S STATEMENT
PERUTUSAN
PENGERUSI EKSEKUTIF
EXECUTIVE CHAIRMAN’S
STATEMENT
P ara pemegang saham yang dihormati
Tahun 2003 telah menyaksikan satu pencapaian ekonomi
negara yang sangat memberangsangkan dengan Keluaran
Dalam Negara Kasar mencatat pertumbuhan 5.2% (2002:
4.1%), sebahagian besarnya disokong oleh permintaan
domestik. Dibantu dengan pemulihan berterusan dalam
ekonomi global serta sentimen perniagaan yang positif,
pencapaian ekonomi Malaysia dijangka akan terus
berkembang. Berdasarkan latarbelakang yang positif ini,
Kumpulan Perangsang Selangor Berhad (“KPS”) telah
berjaya mencatat pencapaian perniagaan yang cemerlang.
Bagi pihak Lembaga Pengarah, saya dengan sukacitanya
membentangkan Laporan Tahunan dan Penyata Kewangan
Beraudit Kumpulan KPS bagi tahun kewangan berakhir
31 Disember 2003.
KEWANGAN
Penyata kewangan yang dibentangkan melaporkan
kedudukan Kumpulan KPS dengan mengambilkira kesan-kesan
selepas penggabungan. Pada tahun kewangan berakhir
31 Disember 2003,perolehan Kumpulan telah meningkat
sebanyak 35% kepada RM237.6 juta,berbanding RM175.8
juta yang dicatatkan pada tahun kewangan sebelumnya.
Peningkatan ini antara lain disumbang oleh peningkatan
perolehan sektor hartanah,melalui penggabungan syarikatsyarikat hartanah Kumpulan iaitu SAP Holdings Berhad,
Brisdale Holdings Berhad dan Central Spectrum (M) Sdn Bhd,
di bawah Kumpulan Hartanah Selangor Berhad, di mana
KPS mempunyai pegangan saham sebanyak 52.07%.
Keuntungan sebelum cukai Kumpulan juga telah meningkat
sebanyak 29% kepada RM107.0 juta,peningkatan sebanyak
RM24.0 juta berbanding dengan tahun kewangan sebelumnya.
Sejajar dengan itu, pendapatan sesaham bersih telah juga
meningkat kepada 14 sen,berbanding 13 sen pada tahun 2002
manakala Aset Ketara Bersih sesaham sebanyak RM1.76.
DIVIDEN
Bagi tahun kewangan berakhir 31 Disember 2002,dividen
interim sebanyak 7 sen sesaham, ditolak cukai sebanyak
28%, telahpun dibayar pada 17 Jun 2003. Saya dengan
sukacitanya mengumumkan bahawa bagi tahun kewangan
berakhir 31 Disember 2003,Lembaga Pengarah mencadangkan
pembayaran dividen terakhir sebanyak 2 sen sesaham,
ditolak cukai 28%,tertakluk kepada kelulusan pemegangpemegang saham di Mesyuarat Agung Tahunan yang akan
datang.
Dear Shareholders
The year 2003 witnessed a significant improvement in
economic conditions with the Malaysian Gross Domestic
Product registering a growth of 5.2% (2002:4.1%),largely
supported by domestic consumption.This, coupled with
continued recovery in the global economy, provided a
conducive business operating environment during the
year under review. Against this positive backdrop, the
Kumpulan Perangsang Selangor Berhad (“KPS”) Group
reported a commendable performance . On behalf of the
Board of Directors,it gives me great pleasure to present
to you the Annual Report and Audited Financial
Statements of the KPS Group for the financial year ended
31 December 2003.
FINANCIAL
The financial statements represent the post-merger
results of the KPS Group. For the financial year ended
31 December 2003, the Group’s revenue has registered
a 35% improvement to RM237.6 million, as compared
to RM175.8 million in the previous financial year. The
increase was contributed by an increase in property
sector revenue arising from the merger of property
companies namely SAP Holdings Berhad, Brisdale
Holdings Berhad and Central Spectrum (M) Sdn Bhd
under subsidiary company, Kumpulan Hartanah Selangor
Berhad of which KPS owns 52.07%.
The Group’s profit before tax has posted a 29% increase
to RM107.0 million, an increase of RM24.0 million when
compared to the previous financial year. Correspondingly,
earnings per share have appreciated to 14 sen from 13
sen previously while Net Tangible Assets amount to
RM1.76 per ordinary shar e.
DIVIDEND
In respect of the financial year ended 31 December 2002,
an interim dividend of 7 sen per share, less 28% tax,was paid
on 17 June 2003.For the financial year ended 31 December
2003,I am pleased to announce that the Board of Directors
is recommending a final dividend of 2 sen per share less
28% tax,which is subject to shareholders’ approval at the
forthcoming Annual General Meeting.
PEMBANGUNAN KORPORA
T
Hasil daripada skim penggabungan korporat Kumpulan
Darul Ehsan Berhad (“KDEB”), KPS telah berjaya
disenaraikan di Bursa Malaysia (sebelum ini dikenali
sebagai Bursa Saham Kuala Lumpur) pada 22 Julai 2003
dengan modal dibenar dan modal berbayar sebanyak
RM1.0 bilion dan RM431.4 juta masing-masing. Berikutan
daripada penggabungan tersebut, semua perniagaan sedia
ada bagi sektor infrastruktur dan utiliti telah disatukan
dan diletakkan di bawah KPS.
Skim Opsyen Saham Pekerja (“ESOS”) KPS, yang telah
diluluskan oleh pemegang-pemegang saham pada 10 Februari
2003,telah dilaksanakan pada 30 Julai 2003 dengan tempoh
opsyen selama lima (5) tahun dari tarikh tersebut.Harga
ESOS telah ditetapkan berdasarkan diskaun sebanyak
10% daripada purata harga pasaran bagi lima (5) hari
sebelum tarikh tawaran,iaitu pada harga RM1.62 sesaham.
Tujuan ESOS diwujudkan adalah sebagai menghargai
sumbangan Pengarah-Pengarah, Pengurusan Kanan dan
kakitangan yang layak, dengan memberi peluang kepada
mereka untuk bersama-sama berusaha menjana pembangunan
Kumpulan dan menikmati
pulangan pelaburan di masa
hadapan.
Dalam tahun kewangan
2003, syarikat subsidiari
KPS iaitu Hydrovest Sdn
Bhd (sebelum ini dikenali
sebagai PWM (Malaysia)
Sdn Bhd), telah berjaya menguasai 60% ekuiti dalam
Aqua-Flo Sdn Bhd (sebelum ini dikenali sebagai Bintang
Baku Sdn Bhd). Aqua-Flo Sdn Bhd terlibat dalam
perniagaan peralatan dan bahan-bahan kimia serta
menyediakan perkhidmatan-perkhidmatan teknikal dalam
industri air, rawatan sisa pepejal dan kumbahan.Hydrovest
Sdn Bhd juga berhasrat untuk menceburi bidang pembuatan
bahan-bahan kimia untuk industri air dalam masa terdekat.
Seperti yang dinyatakan dalam Laporan Tahunan sebelum
ini, pada 15 April 2003, KPS telah menguasai 70%
kepentingan dalam Darul Ehsan Bina Sdn Bhd (sebelum
ini dikenali sebagai BDR Sdn Bhd).Darul Ehsan Bina Sdn
Bhd, sebuah syarikat pembinaan, akan menerajui semua
aktiviti pembinaan untuk Kumpulan.
CORPORATE DEVELOPMENTS
On 22 July 2003, KPS achieved a significant milestone
when it was listed on the Bursa Malaysia (formerly known
as Kuala Lumpur Stock Exchange) with an authorised
capital of RM1.0 billion and an enlarged paid-up capital of
RM431.4 million as part of a corporate merger exercise
of Kumpulan Darul Ehsan Berhad (“KDEB”). Pursuant to
the merger, the infrastructure and utility businesses were
consolidated,rationalised and streamlined under KPS.
The KPS Employee Share Option Scheme (“ESOS”),
which was approved by the shareholders on 10 February
2003,became effective on
30 July 2003 and shall be
in force for a period of
five (5) years from such
effective date. The ESOS
exercise price was fixed
at RM1.62 based on a
10% discount of the
preceding five (5) days
weighted average market price of KPS share from the
offer date.
The objective of the ESOS is to reward the Directors,
Senior Management and eligible employees as well as to
enable them to participate in the future growth of the
Group.
During the financial year 2003,a subsidiary of KPS known
as Hydrovest Sdn Bhd (formerly known as PWM (Malaysia)
Sdn Bhd), acquired 60% equity interest of Aqua-Flo Sdn
Bhd (formerly known as Bintang Baku Sdn Bhd).Aqua-Flo
Sdn Bhd is involved in the trading of chemicals and
equipment,and the provision of technical services in the
water, waste and sewage treatment industries. It is also
the intention of Hydrovest Sdn Bhd to venture into
manufacturing of chemicals for the water industry.
KPS’s subscription to own 70% of construction company,
Darul Ehsan Bina Sdn Bhd (formerly known as BDR Sdn
Bhd), as mentioned in the previous Annual Report, was
completed on 15 April 2003. Darul Ehsan Bina Sdn Bhd
will undertake construction activities for the Group.
13
TADBIR URUS KORPORA
T
Lembaga akan terus memberi penekanan terhadap
penggunaan garis panduan tadbir urus korporat dan akan
berusaha mempertingkatkan ketelusan tadbir urus korporat
serta sistem kawalan dalaman Kumpulan pada setiap
masa. Proses dan sistem operasi akan sentiasa diawasi
bagi memastikan ketelusan,akauntabiliti dan keseragaman
wujud dan menjadi amalan di setiap peringkat. Untuk
menjaga kepentingan pemegang-pemegang saham minoriti,
risiko perniagaan akan sentiasa dipantau dan diurus dengan
baik menggunakan Carta Pengurusan Risiko Korporat.
Laporan Tadbir Urus Korporat yang menggariskan secara
terperinci prinsip-prinsip dan penilaian-penilaian yang telah
dilaksanakan oleh Kumpulan dimuatkan dalam seksyen
“Laporan Tadbir Urus Korporat” Laporan Tahunan ini.
PERHUBUNGAN PELABUR
Lembaga merasakan bahawa pemegang-pemegang saham
perlu dimaklumkan mengenai pembangunan-pembangunan
korporat dan perkembangan perniagaan Syarikat. Selain
daripada
Mesyuarat
Agung Tahunan yang
merupakan forum utama
untuk berinteraksi dengan
pemegang-pemegang
saham, maklumat turut
disebarkan
ke p a d a
pelabur awam melalui
p e rt e mu a n - p e rt e mu a n
dengan pengurus-pengurus dana dan penganalisapenganalisa pelaburan serta media cetak dan elektronik
dari semasa ke semasa.
CORPORATE GOVERNANCE
The Board reiterates its commitment to practising high
standards of corporate governance at all times and will
continue to enhance corporate governance and internal
controls throughout the Group. Operational systems and
processes are continually reviewed to ensure that a high
level of transparency, accountability and compliance exist
within the Group. To safeguard minority shareholders’
interest, business risks are monitored and managed
stringently through the Corporate Risk Management
Scorecard.Our Corporate
Governance Report in
this Annual Report provides
details on the principles
and measures that have
been implemented within
the Group.
INVESTOR RELATIONS
The Board takes cognizance that shareholders need to
be informed of corporate developments, which have a
material significance to the Group. While the Annual
General Meeting is the principal forum used to
communicate with the shareholders, information is also
disseminated to the investing public through meetings
with fund managers and analysts as well as through the
print and electronic media.
TANGGUNGJA WAB SOSIAL
SOCIAL RESPONSIBILITIES
Kumpulan terus kekal sebagai badan korporat yang prihatin
terhadap komuniti di sekitarnya dan telah menyokong
pelaksanaan pelbagai program kemasyarakatan sepanjang
tahun. Sejajar dengan falsafah keprihatinan korporat,
penekanan turut diberi dalam meningkatkan kebajikan
kakitangan dengan menyediakan persekitaran kerja yang
baik dan menawarkan peluang-peluang untuk aktiviti
sosial dan pembangunan profesional mereka.
The Group remains firmly committed as a caring corporate
citizen towards the communities in which it operates and
had supported several social programmes throughout
the year. In line with our caring philosophy, emphasis is
also directed towards improving the well-being of our
employees by ensuring a quality working environment
and offering opportunities for their social and professional
development.
TINJA UAN MASA HADAPAN
FUTURE OUTLOOK
Ekonomi Malaysia dijangka terus kukuh pada tahun 2004,
dengan peningkatan permintaan dari dalam dan luar negara.
Keluaran Dalam Negara Kasar dijangka mencatatkan
pertumbuhan di antara 5.5% dan 6% dalam tahun 2004.
Peningkatan keyakinan pengguna, sentimen perniagaan
yang kuat,dan pemulihan pasaran saham berserta dengan
dasar fiskal dan polisi kewangan Kerajaan yang kondusif
akan terus menjadi faktor-faktor yang menjamin
kesinambungan pencapaian operasi yang baik bagi KPS
di tahun-tahun akan datang.
The Malaysian economy has made a strong start to 2004,
spearheaded by both domestic and external demand.
The Gross Domestic Product is forecasted to register a
growth of between 5.5% and 6% in 2004. Improved
consumer confidence, strong business sentiment, and
the rebound of the stock market together with the
Government’s accommodative monetary and fiscal policies
are factors that will continue to provide a favourable
operating environment for KPS in the year ahead.
Kejayaan penstrukturan semula korporat telah menempatkan
KPS sebagai syarikat yang kukuh untuk menjana pertumbuhan
dan yakin akan menjadi peneraju utama dalam sektor
infrastruktur dan utiliti negara, serta dapat terus
memperolehi faedah daripada pelaksanaan polisi-polisi
penswastaan Kerajaan. Perolehan KPS di tahun-tahun
akan datang dijangka disumbangkan melalui pelaksanaan
Skim Langat II, iaitu Projek Pemindahan Air Mentah dari
Pahang ke Selangor yang sedang dalam peringkat akhir
perancangannya.
Syarikat telah dilantik oleh Kerajaan Negeri Selangor
untuk melaksanakan kerja-kerja merekabentuk dan
membina loji rawatan air (“WTP”) Skim Langat II serta
kerja-kerja pengagihan, dan mengambil bahagian dalam
Operasi dan Penyelenggaraan WTP. Kos projek bagi Fasa
1 dianggarkan berjumlah RM2.5 bilion dengan kapasiti
sebanyak 1,090 juta liter sehari (“MLD”).Apabila selesai
sepenuhnya, Skim Langat II akan menjadi loji rawatan air
terbesar di Malaysia dengan jumlah kapasiti sebanyak
2,180 MLD dan seterusnya menjadikan KPS sebagai
peneraju utama bekalan air di Malaysia. Kerja-kerja
rekabentuk kejuruteraan dan kerja-kerja ukur tanah Skim
Langat II ini telahpun bermula.
Pertumbuhan perolehan KPS di masa hadapan juga turut
disumbang oleh projek penswastaan Lebuhraya Persisiran
Pantai Barat, di mana KPS akan mempunyai kepentingan
sebanyak 20%.Syarikat akan memperolehi faedah daripada
pendapatan pembinaan dan aliran tunai jangka panjang
untuk tempoh 30 tahun konsesi projek.
Dalam tempoh yang sama, pegangan pelaburan strategik
Syarikat dalam skim-skim bekalan air sedia ada seperti
Skim Bekalan Air Sungai Selangor Fasa 3 (“SPLASH”) dan
Skim Bekalan Air Sungai Semenyih (“ABASS”) serta
operasi lebuhraya seperti Sistem Penyuraian Trafik Kuala
Lumpur Barat (“SPRINT”),dijangka akan terus menyumbang
kepada pendapatan KPS.
Sumbangan daripada subsidiari hartanah iaitu Kumpulan Hartanah
Selangor Berhad dijangka akan meningkat, sejajar dengan
pemulihan yang berterusan dalam sektor hartanah negara.
Having successfully completed a corporate restructuring,
KPS is well poised for growth and envisages carving a
major role in the infrastructure and utility sector, which
is expected to benefit from the continued privatisation
policies of the Government. KPS’s future earnings are
expected to be fueled by Langat II Scheme, a water supply
project complementing the mega Pahang Interstate Raw
Water Transfer Scheme.
The company is slated to implement the design and built
contract of the Langat II Scheme’s water treatment plants
(“WTP”) and distribution works,and to participate in the
operations and maintenance of the WTPs.The project
cost for Phase 1 is estimated to be RM2.5 billion with a
capacity of 1,090 Million Litres Per Day (“MLD”).When
fully completed,the Langat II Scheme will have a massive
capacity of 2,180 MLD and in turn, will propel KPS to
become the leading water player in the country. KPS has
already commenced engineering design and ground survey
works for the scheme.
KPS‘s future earnings growth will also be driven by the
privatisation of the West Coast Expressway project, in
which it will hold a 20% equity interest, subject to regulatory
approvals.The company will benefit from construction earnings
and cash flow stream over a 30-year concession period.
Strategic interests in on-going water supply schemes
namely Sungai Selangor Water Supply Scheme Phase 3
(SPLASH), and the Sungai
Semenyih Water Supply
Scheme (ABASS) and
highway development such
as Western KL Traffic
Dispersal Scheme (SPRINT)
are expected to continue
to contribute significantly
to the earnings of KPS.
Contributions from property subsidiary, Kumpulan
Hartanah Selangor Berhad, are expected to be favourable in
line with the continuing recovery of the property market.
Dengan wujudnya projek-projek baru serta fokus baru
dalam sektor yang berdaya tahan terhadap ketidaktentuan
ekonomi dan persekitaran operasi yang kondusif,prospek
perniagaan Kumpulan KPS bagi tahun 2004 dan tahuntahun berikutnya dijangka bertambah positif. Ahli-Ahli
Lembaga Pengarah berkeyakinan penuh bahawa, faktorfaktor luar yang dinyatakan berserta dengan pengurusan
yang mantap, akan meletakkan Kumpulan KPS di landasan
yang betul untuk terus mencapai objektif korporat dan
pertumbuhan perolehan yang cemerlang.
With new projects coming onstream,a renewed focus in
a sector that is resilient to economic volatilities and a
more robust operating environment, the prospects for
the KPS Group in the year ahead and beyond can only be
positive.The Board of Directors is indeed confident that,
barring unforeseen circumstances, the aforementioned
external factors coupled with astute and prudent
management would enable the KPS Group to be well
placed to achieve its corporate objectives and a
commendable earnings growth.
15
PENGHARGAAN
Saya ingin mengambil peluang ini untuk mengucapkan
terima kasih kepada Ahli-Ahli Lembaga Pengarah di atas
sumbangan dan panduan ke arah pencapaian matlamat
perniagaan Kumpulan. Setinggi-tinggi terima kasih juga
kepada YBSenator Dato’ Ghazi @ Hasbullah bin Haji
Ramli,YBhg Dato’ Mohd Nor bin Bador dan YBhg Dato’
Mohd Karim bin Abdullah Omar yang telah meletakkan
jawatan. Saya juga mengucapkan selamat datang kepada
YB Dato’ Dr Haji Karim bin Haji Mansor, YB Dato’
Ahmad Bhari bin Abd Rahman dan YBhg Dato’ Yip Kam
Chong yang baru dilantik menganggotai Lembaga
Pengarah dan saya percaya dengan pengalaman mereka
yang luas, mereka akan dapat memberi sumbangan yang
berkesan kepada Kumpulan KPS.
ACKNOWLEDGEMENT
I would like to take this opportunity to thank my entire
fellow Board Members for their invaluable contributions
and guidance to the Group. My sincere thanks to YB
Senator Dato’ Ghazi @ Hasbullah bin Haji Ramli,
YBhg Dato’ Mohd Nor bin Bador and YBhg Dato’ Mohd
Karim bin Abdullah Omar who have resigned from the
Board.I would like to warmly welcome YBDato’ Dr Haji
Karim bin Haji Mansor, YB Dato’ Ahmad Bhari bin Abd
Rahman and YBhg Dato’ Yip Kam Chong who bring with
them a wealth of experience in their respective fields.
Setinggi-tinggi penghargaan juga diucapkan kepada
Pengurusan dan kakitangan yang memberikan komitmen
yang jitu, dedikasi dan usaha yang tidak berbelah bagi
untuk memastikan kejayaan KPS di sepanjang tahun 2003.
My heartfelt appreciation to the management and staff
whose unwavering commitment, tireless efforts and
dedication have contributed to a successful year.
Saya juga ingin merakamkan ucapan terima kasih kepada
pelanggan-pelanggan, pemegang-pemegang saham, rakanrakan niaga, institusi kewangan dan pihak-pihak berkuasa
kerajaan dan agensi yang berkaitan di atas sokongan dan
keyakinan yang berterusan kepada Kumpulan KPS.
We would also like to extend our sincere thanks to
our valued customers,shareholders,business associates,
financial institutions and re l evant government
authorities and agencies for their continued support
and confidence in the KPS Group.
DAT O’ HAJI ZABIR BIN BAJURI
DPMS,SSA,KMN,PPT
Pengerusi Eksekutif
DAT O’ HAJI ZABIR BIN BAJURI
DPMS,SSA,KMN,PPT
Executive Chairman
TINJAUAN OPERASI PENGARAH URUSAN
MANAGING DIRECTOR’S REVIEW OF OPERATIONS
TINJAUAN OPERASI
PENGARAH URUSAN
MANAGING DIRECTOR’S
REVIEW OF OPERATIONS
Tahun kewangan 2003 mencatatkan sejarah bagi
Kumpulan Perangsang Selangor Berhad (“KPS”).Ini kerana
pada tahun tersebut,KPS berjaya menyempurnakan proses
penggabungan korporatnya dan disenaraikan di Papan
Utama Bursa Malaysia (sebelum ini dikenali sebagai Bursa
Saham Kuala Lumpur) pada 22 Julai 2003 dengan jumlah
modal berbayar sebanyak RM431.4 juta.
Kesan awalan daripada penyempurnaan penggabungan
korporat Kumpulan,jelas dapat dilihat dengan peningkatan
perolehan dan keuntungan Kumpulan KPS bagi tahun
berakhir 31 Disember 2003. Jumlah perolehan meningkat
sebanyak 35% kepada RM237.6 juta (2002:RM175.8 juta)
manakala keuntungan sebelum cukai meningkat sebanyak
29% kepada RM107.0 juta (2002: RM83.0 juta). Ulasan
berkaitan sumbangan daripada bidang-bidang niaga utama
Kumpulan akan dijelaskan di segmen-segmen berkaitan
Laporan ini.
INFRASTRUKTUR DAN UTILITI
Tinjauan Industri
Di bawah Rancangan Malaysia Ke Lapan (“RMK-8”),
Kerajaan dijangka akan membelanjakan baki peruntukan
sebanyak RM50.8 bilion sebelum RMK-8 berakhir pada
tahun 2005. Kerajaan dijangka meneruskan projek-projek
penswastaan, bagi menjana pertumbuhan ekonomi dan
telahpun memperakukan pelaksanaan beberapa projek
baru untuk tahun 2004 - 2005, antaranya termasuklah
projek Lebuhraya Persisiran Pantai Barat. KPS yang
dijangka menguasai 20% ekuiti dalam syarikat konsesi
projek iaitu Konsortium LPB Sdn Bhd akan mendapat
banyak faedah dari pelaksanaannya kelak.
Prospek perniagaan luar negara memperlihatkan banyak
peluang untuk projek-projek infrastruktur terutamanya
di Asia Selatan,Timur Tengah dan China.Menerusi jalinan
kerjasama dengan syarikat-syarikat usahasama dan rakanrakan niaga di Malaysia dan luar negara, KPS sedang
berusaha untuk mengembangkan perniagaan dalam sektor
ini di luar negara.
Memandangkan kepentingan strategik pembangunan
industri air, Kerajaan Malaysia,telah pada bulan Julai 2003,
melalui Kementerian Kerjaraya, mengumumkan bahawa
Kerajaan Pusat akan mengambil-alih kerja-kerja pengurusan
air dari semua kerajaan negeri dan sebuah badan
kawalselia yang dinamakan Suruhanjaya Air Negara akan
melaksanakan semua polisi dan pengurusan bekalan air
negeri. Perkembangan ini dijangka akan mempengaruhi
halatuju industri air negara.
The financial year 2003 marked a historical milestone for
Kumpulan Perangsang Selangor Berhad (“KPS”). During
the year, KPS had successfully completed a merger exercise
and was listed on the Main Board of Bursa Malaysia
(formerly known as the Kuala Lumpur Stock Exchange)
on 22 July 2003 with an enlarged paid-up capital of
RM431.4 million.
The financial results of the KPS Group for the year ended
31 December 2003, which reflect the post-merger
operations of the Group, posted growth both in revenue
and profit. Total revenue generated increased by 35% to
RM237.6 million (2002: RM175.8 million) while profit
before tax rose by 29% to RM107.0 million (2002:
RM83.0 million). A review of contributions from the core
segments of our businesses is highlighted in the ensuing
report.
INFRASTRUCTURE AND UTILITY
Industry Review
Under the Eighth Malaysia Plan (“8MP”),the Government
is expected to spend the balance allocated under the
plan, approximately RM50.8 billion, over the next two (2)
years.The Government remains keen on privatisation in
view of the strong multiplier and spillover effects on the
economy and has outlined the implementation of several
infrastructure projects for 2004 - 2005,amongst which is
the West Coast Expressway project.KPS,which envisages
to own a 20% shareholding interest in the project’s
concessionaire, Konsortium LPB Sdn Bhd, will benefit
from the implementation of this project.
On the overseas front,there are many opportunities for
infrastructure projects especially in South Asia,the Middle
East and China. These opportunities will be further
explored through collaboration with joint-venture partners
and business associates from within Malaysia as well as
overseas.
Where the utility sector is concerned,the development
of the water industry has become the main thrust of the
Government.In July 2003,the Works Ministry announced
that the Federal Government would take over control of
water management from the state governments and that
the National Water Commission would implement all
policies and management of state water resources, thus
setting the future direction of the water industry in the
country.
Unjuran permintaan terhadap air dijangka akan meningkat
kepada 14 bilion meter padu pada tahun 2020 dan untuk
memenuhi permintaan tersebut, Kerajaan telah mengenalpasti
sebanyak 129 projek bekalan air (bernilai RM4 bilion
untuk dilaksanakan di bawah RMK-8. Syarikat berharap
untuk mengambil bahagian dalam pelaksanaan projek-projek
ini dan sedang memantau perkembangannya.
Projek-projek mega yang dijangka akan dilaksanakan
termasuklah pemindahan air di antara negeri, sistem
pembentungan negara serta program-program penswastaan
bekalan air. Di bawah RMK-8, Kerajaan juga telah
mensasarkan penurunan NRW (non-revenue water) ke
tahap 31% berbanding 38.9% pada tahun 2001.Programprogram bagi mempercepatkan pelaksanaan kerja-kerja
penggantian paip-paip simen asbestos yang lama,dijangka
dapat menyediakan peluang-peluang perniagaan baru bagi
syarikat-syarikat yang bergiat dalam sektor ini.
Tinjauan Prestasi
Sejajar dengan objektif pelaksanaan proses penggabungan,
sektor pembangunan infrastruktur dan utiliti terus
menjadi penyumbang utama kepada perolehan Syarikat
bagi tahun kewangan 2003. Sektor ini menyumbang
sebanyak 55% berjumlah RM59.0 juta (2002:RM63.7 juta)
daripada keuntungan sebelum cukai Kumpulan KPS.
Sumbangan tersebut diperolehi melalui bahagian keuntungan
syarikat-syarikat bersekutu yang terlibat dalam projekprojek bekalan air dan lebuhraya. Penurunan sumbangan
berbanding tahun 2002 adalah disebabkan oleh penurunan
keuntungan daripada aktiviti pembinaan, sama ada
kerja-kerja pembinaan bagi projek-projek terlibat telah siap
sepenuhnya atau berada dalam fasa terakhir pelaksanaan.
Di sepanjang tahun 2003,KPS terus membantu Kerajaan
Negeri Selangor di dalam perancangan kewangan dan
teknikal bagi pelaksanaan Skim Langat II yang merupakan
sebahagian daripada Projek Pemindahan Air Mentah dari
Pahang ke Selangor. Syarikat juga dijangka akan diberikan
tugas utama dalam pelaksanaan Skim Langat II.KPS telah
dilantik untuk menganggotai satu badan bertindak
bersama yang dipertanggungjawabkan, antara lain,
menyediakan laporan-laporan teknikal, menyelenggara
kerja-kerja ukur tanah dan mengenalpasti tapak untuk
laluan paip, loji rawatan air dan kolam takungan air, serta
merumus terma perjanjian-perjanjian yang berkaitan.
Sebagai langkah awalan,KPS telah memulakan kerja-kerja
rekabentuk kejuruteraan dan kerja-kerja ukur tanah bagi
pengambilalihan tanah berkaitan untuk projek tersebut.
Demand for water is projected to increase to 14 billion
cubic metres by 2020 and to meet this demand, a total
of 129 water supply projects (worth RM4 billion) has
been identified for implementation under the 8MP. The
Company is monitoring these developments with a view
towards securing participation in several of the projects.
The mega projects slated for implementation are the
interstate water transfer and national sewage and water
privatisation programmes.Under the 8MP, the Government
aims to reduce NRW (non-revenue water) to 31% from
38.9% in 2001. Towards this end, it is envisaged that the
Government is expected to expedite works on the
replacement of old asbestos cement pipes throughout
the country and the prime beneficiaries will be those
companies involved in the water sector.
Performance Review
In line with the objective of the merger exercise, the
infrastructure and utility sector continued to be the
major contributor to earnings for the financial year 2003.
The sector accounted for 55% of KPS Group’s profit
before tax amounting to RM59.0 million (2002: RM63.7
million).This amount represents the share of profits from
associated companies involved in water supply and highway
projects.The decline in contribution when compared to
2002 was due to a reduction in construction profits from
these projects, as construction is either completed or
reaching the end phase .
During the year, KPS continued to assist the Selangor
State Government in the financial and technical planning
for the implementation of Langat II Scheme, which is part
of the Pahang Interstate Raw Water Transfer Project.
KPS is also expected to be given the main task in the
implementation.KPS has been appointed to be a member
of a joint task force , which was established to spearhead
the project, and among the tasks undertaken were the
preparation of technical reports and identification of
sites for the water treatment plants,the service reservoir
and pipe laying,as well as drafting of relevant agreements.
KPS has also commenced the engineering design and
ground survey works for the purpose of land acquisition
for the said project.
19
Prospek
Peningkatan perolehan KPS di masa hadapan akan diperolehi
melalui penglibatan Syarikat dalam kerja-kerja pelaksanaan
projek-projek utama infrastruktur dan utiliti seperti
Lebuhraya Persisiran Pantai Barat dan Skim Langat II.
Kedua-dua projek tersebut masih menunggu kelulusan
daripada pihak berkuasa. Dalam jangkamasa panjang,
operasi dan aktiviti-aktiviti penyelenggaraan projek-projek
yang dinyatakan tadi akan memberi keuntungan dan aliran
tunai yang baik kepada KPS.Manakala,pelaburan-pelaburan
sedia ada dalam projek-projek seperti Skim Bekalan Air
Sungai Selangor Fasa 3,Skim Bekalan Air Sungai Semenyih
dan Lebuhraya SPRINT akan terus menyumbangkan
keuntungan yang lumayan kepada KPS.
HAR TANAH
Tinjauan Industri
Di awal tahun 2003, pelancaran projek hartanah berada
di tahap yang rendah kerana dipengaruhi oleh
ketidaktentuan geopolitik dan serangan wabak Sindrom
Pernafasan Akut Yang Teruk (“SARS”). Bagi memulihkan
pasaran, Kerajaan telah memperkenalkan Pakej Rangsangan
Ekonomi pada 21 Mei 2003, yang mengandungi insentifinsentif tertentu bagi sektor ini. Pengecualian duti setem
dan cukai keuntungan harta bagi transaksi hartanah yang
disediakan dalam pakej tersebut mendorong
meningkatkan permintaan terhadap kediaman baru dan
sedia ada pada separuh penggal kedua 2003, dan seterusnya
membawa kepada bertambahnya aktiviti-aktiviti
pembangunan hartanah.Rumah-rumah teres satu tingkat
merupakan yang terlaris, diikuti dengan rumah-rumah
teres dua tingkat,rumah-rumah berkembar, kondominium
dan rumah-rumah banglo. Kedudukan hartanah yang tidak
terjual menjadi semakin stabil dan diikuti dengan pemaju
hartanah yang memperluaskan bank tanah masing-masing
untuk pembangunan masa hadapan terutamanya di lokasilokasi strategik di Lembah Klang.
Tinjauan Prestasi
Berikutan dengan wujudnya Kumpulan Hartanah Selangor
Berhad (“KHSB”) sebagai anak syarikat milik KPS dengan
kepentingan sebanyak 52.07%, semua perniagaan
pembangunan hartanah Kumpulan telah diletakkan
di bawah KHSB. KHSB disenaraikan di Papan Utama
Bursa Malaysia pada 22 Julai 2003 dengan modal berbayar
sebanyak RM450.0 juta. Penggabungan perniagaan
pembangunan hartanah dan rekreasi di bawah KHSB ini
telah menghasilkan satu entiti yang lebih fokus dan
kompetitif di mana, ditambah pula dengan bank tanah
yang besar, telah menempatkan KHSB di tapak yang
kukuh dalam menjana pertumbuhan di sektor ini.
Prospects
KPS’s future growth in earnings will be driven by the
implementation of two major infrastructure and water
utility projects namely the West Coast Expressway and
the Langat II Scheme respectively.
Both projects are pending authority approvals. These
projects will provide KPS with construction profits and,in
the long term,a recurring profit and cash flow stream from
the operations and maintenance activities. Meanwhile, the
existing investments in the Sungai Selangor Water Supply
Scheme Phase 3, Sungai Semenyih Water Supply Scheme
and the SPRINT Highway projects will continue to
provide a strong base for KPS’s future earnings.
PROPERTY
Industry Review
In early 2003, property launches slowed down due to
geopolitical uncertainties and the outbreak of the Severe
Acute Respiratory Syndrome (“SARS”).To rejuvenate the
property market, the Government introduced the
Economic Stimulus Package on 21 May 2003.The waiver
of stamp duty and real property gains tax provided for in
the stimulus package spurred housing demand and the
second half of 2003 saw increased property development
activities. Single-storey houses were the most saleable,
followed by double-storey units, semi-detached houses,
condominiums and bungalows. The property overhang
appeared to be stabilised.A number of property developers
embarked on an expansion trail to acquire lands especiall y
in strategic locations within the Klang Valley.
Performance Review
The financial year under review saw the implementation
of the restructuring exercise, which created Kumpulan
Hartanah Selangor Berhad (“KHSB”) as the 52.07%-owned
subsidiary of KPS.KHSB was listed on the main board of
Bursa Malaysia on 22 July 2003 with an enlarged paid-up
capital of RM450.0 million. The merging of property
development and recreational businesses under KHSB has
created a more focused and competitive entity which,
coupled with an enlarged landbank,has placed KHSB on
a stronger footing to pursue growth opportunities in the
sector.
Bagi tahun kewangan 2003, pembangunan hartanah dan
pengurusan hartanah menyumbangkan perolehan sebanyak
RM133.3 juta kepada Kumpulan KPS berbanding dengan
RM73.6 juta yang dicatatkan dalam tahun 2002.
Penambahan sebanyak 81% ini adalah hasil daripada
penggabungan tiga (3) syarikat hartanah di bawah
Kumpulan Hartanah Selangor Berhad (“KHSB”) iaitu SAP
Holdings Berhad, Brisdale Holdings Berhad dan Central
Spectrum (M) Sdn Bhd. Berikutan peningkatan dalam
perolehan, keuntungan sebelum cukai turut meningkat
sebanyak 157% kepada RM33.1 juta berbanding RM12.9
juta pada tahun 2002.Secara keseluruhan sektor hartanah
berjaya menyumbang sebanyak 31% daripada keuntungan
sebelum cukai Kumpulan KPS bagi tahun 2003.
Berikutan dengan perkembangan pasaran hartanah yang
menggalakkan,Syarikat telah melancarkan dua (2) projek
baru di Templer Park Resort yang merangkumi rumah
teres dua tingkat di Fasa 4B (Heritage) dan rumah
berkembar dua tingkat di Fasa 3E (Templer Suasana).
Harga jualan bagi rumah teres dua tingkat adalah dalam
lingkungan RM230,000 seunit manakala harga bagi
rumah berkembar dua tingkat adalah dalam lingkungan
RM390,000 seunit.Sambutan terhadap kedua-dua produk
tersebut begitu menggalakkan dengan lebih daripada 60%
rumah-rumah teres dan 100% rumah-rumah berkembar
telah dapat dijual. Selain itu, KHSB telah juga berjaya
menjual stok hartanah tidak terjual dengan jualan bernilai
RM62.08 juta.
Di sepanjang tahun 2003,sejumlah 196 unit rumah teres
dua tingkat (Bahtera), 484 unit pangsapuri kos rendah,
432 unit apartmen (Samudra) dan 96 unit kedai pejabat
di Bandar Armada Putra di Pulau Indah telah berjaya
disiapkan dan diserahkan kepada pembeli-pembeli. Kedaikedai pejabat ini akan diduduki oleh Kolej Antarabangsa
INPENS. Laguna Park Fasa 1A, juga terletak di Pulau
Indah, yang terdiri daripada 134 unit rumah teres dua
tingkat telahpun siap sepenuhnya dan diserahkan kepada
pembeli secara milikan kosong. Sementara di Serendah,
projek “Program Perumahan Rakyat Bersepadu” yang
mengandungi 300 unit apartmen kos rendah telah siap
sepenuhnya dan diserahkan kepada Jabatan Perumahan
Negara.
For the financial year 2003 property development and
management contributed revenue of RM133.3 million to
the KPS Group as compared to RM73.6 million in 2002.
The 81% increase is attributed to the merging of three
(3) property companies namely SAP Holdings Berhad,
Brisdale Holdings Berhad and Central Spectrum (M) Sdn
Bhd under Kumpulan Hartanah Selangor Berhad (“KHSB”).
Corresponding to the increase in property sector revenue,
profit before tax from this sector grew by almost 157%
to RM33.1 million as compared to RM12.9 million in
2002. Profit contribution from the property sector
accounted for 31% of KPS Group’s pre-tax profit.
During the financial year 2003 there were two (2) sales
launches in Templer Park Resort comprising double
storey-link houses in Phase 4B (Heritage) and double-storey
semi - detached houses in Phase 3E (Templer Suasana).The
selling price ranged from RM230,000 per unit for the
double-storey link houses and from RM390,000 per unit
for the semi-detached houses.Response for both products
was encouraging with more than 60% of the link houses
and 100% of the semi-detached houses sold.In addition,
KHSB successfully sold about RM62.08 million worth of
its unsold stocks.
During the year, a total of 196 units of double storey link
houses (Bahtera),484 units of low cost flats,432 units of
apartments (Samudra) and 96 units of shop offices in
Bandar Armada Putra in Pulau Indah were handed over to
purchasers.These shop offices will be occupied by INPENS
International College. Laguna Park Phase 1A,also in Pulau
Indah, consisting of 134 units of double-storey terrace
houses was completed and handed over with vacant
possession.In Serendah,the “Program Perumahan Rakyat
Bersepadu” project comprising 300 units of low cost
apartments was also completed and delivered to Jabatan
Perumahan Negara.
Prospects
With an improving economy, we believe the property
market has started to turn around and well on its way to
recovery and growth. For immediate development,KHSB
will focus on developing pocket lands within the growth
area of Gombak, Kuala Selangor and Pulau Indah.
Prospek
Dengan pencapaian ekonomi yang baik,pengurusan percaya
pasaran hartanah telah kembali pulih dan akan tumbuh
dengan pesat.Untuk masa terdekat,KHSB akan memberi
tumpuan dalam memajukan kawasan tanah yang sedang
dibangunkan di sekitar Gombak,Kuala Selangor dan Pulau
Indah.
21
Sementara bagi pertumbuhan masa hadapan, KHSB akan
menumpukan aktiviti pembangunan di dua (2) projek
utama iaitu BioValley di Sepang dan Berjuntai Bestari di
Kuala Selangor. Projek BioValley terletak di kawasan seluas
1,200 ekar berhampiran Cyberjaya di mana sebahagiannya
telah diperuntukkan untuk tapak pembangunan tiga (3)
institut penyelidikan di bawah Kementerian Sains,
Teknologi dan Inovasi (“MOSTI”, sebelum ini dikenali
sebagai Kementerian Sains, Teknologi dan Alam Sekitar).
Upacara pecah tanah bagi projek MOSTI ini telah
disempurnakan oleh Perdana Menteri ketika itu, Yang
Berbahagia Tun Dr Mahathir Mohamad pada 20 Mei 2003.
Pembangunan oleh MOSTI ini akan menjadi pemangkin
untuk pertumbuhan masa hadapan dan juga meningkatkan
nilai hartanah di kawasan tersebut.
KHSB juga akan membangunkan tanah seluas lebih kurang
5,000 ekar yang merupakan sebahagian daripada kawasan
seluas 29,000 ekar yang akan dibangunkan sebagai projek
bandar ilmu “Berjuntai Bestari”. Berbekalkan konsep
pembangunan mampan, KHSB bakal menjadi perintis
kepada pembangunan seumpamanya di negara ini.
HOSPITALITI DAN REKREASI
The future growth of KHSB lies in the development of
two (2) flagship projects namely BioValley in Sepang and
Berjuntai Bestari in Kuala Selangor.The BioValley project,
which is located in the vicinity of Cyberjaya,encompasses
1,200 acres, part of which has been earmarked for the
development of three research institutes by the Ministry
of Science, Technology and Innovation (“MOSTI”,
formerly known as Ministry of Science, Technology and
Environment).A ground-breaking ceremony of MOSTI’s
project was officiated by the former Prime Minister,
Tun Dr Mahathir Mohamad,on 20 May 2003.The anchor
development by MOSTI will pr ovide the catalyst to spur
future growth and enhancement of real estate value in
the area.
KHSB will also be developing approximately 5,000 acres
of land as part of the massive 29,000-acre master plan for
the development of an intelligent city known as “Berjuntai
Bestari”.Modeled after the sustainable de velopment concept,
KHSB’s development will be the first of its kind in the
country.
Tinjauan Industri
Dalam separuh penggal pertama tahun 2003, prestasi
keseluruhan industri perhotelan negara telah terjejas
teruk dengan mencatatkan kadar penginapan yang rendah
kesan daripada peperangan di Iraq dan serangan wabak
SARS. Walau bagaimanapun industri perhotelan mula
pulih pada separuh penggal kedua tahun 2003 dengan
peningkatan dalam kadar penginapan. Jumlah kehadiran
pelancong ke Malaysia terus meningkat melebihi satu juta
pada Disember 2003.
Tinjauan Prestasi
Perniagaan-perniagaan hospitaliti dan rekreasi Kumpulan
KPS diurus dan dijalankan oleh KHSB, yang memiliki
dan/atau mengurus tiga (3) hotel dan tiga (3) kelab
rekreasi. KHSB memiliki dan mengurus Quality Hotel
City Centre dan Hotel Brisdale, kedua-duanya terletak di
Kuala Lumpur, dan Quality Hotel Shah Alam. KHSB juga
memiliki dan mengurus Kelab OUG yang terletak
di kawasan perumahan Overseas Union Garden di Jalan
Kelang Lama dan Perangsang Templer Golf Club
di Templer Park Resort. Manakala kelab yang ketiga iaitu
Kelab Darul Ehsan yang terletak di Taman TAR diurus
oleh syarikat bersekutu.
Dalam persekitaran ekonomi yang mencabar, perniagaan
hotel menyumbangkan perolehan sebanyak RM22.3 juta
bagi tahun kewangan 2003 (2002: RM19.0 juta). Melalui
pengurusan yang cekap dan inisiatif-inisiatif pengurangan
kos, sektor ini berjaya mengurangkan kadar kerugian
kepada RM1.3 juta berbanding dengan kerugian sebanyak
RM2.4 juta pada tahun 2002.
HOSPITALITY AND RECREATION
Industry Review
In the first half of the year 2003, the overall performance of
hotels was adversely affected by the war in Iraq and the
outbreak of SARS and consequently, the industry recorded
low occupancy rates.However, the recovery of the tourism
industry towards the second half of 2003 witnessed an
improvement in the occupancy rates for the hotel industry.
The number of tourist arrivals rose substantially to over a
million in the month of December 2003.
Performance Review
The hospitality and recreation businesses of the KPS
Group are carried out through KHSB and entail the
management and/or ownership of three hotels and three
recreational clubs. KHSB owns and operates the Quality
Hotel City Centre and Brisdale Hotel, both located in
Kuala Lumpur, and the Quality Hotel Shah Alam. KHSB
also owns and manages Kelab OUG, located within the
residential area of Overseas Union Garden in Jalan Kelang
Lama, and the Perangsang Templer Golf Club in Templer
Park Resort.However, Kelab Darul Ehsan situated within
Taman TAR is being managed by an associate company.
Amidst a challenging environment, the hotel business
contributed revenue of RM22.3 million for the financial
year 2003 (2002: RM19.0 million). Through prudent
management and cost reduction initiatives, this business
managed to reduce losses to RM1.3 million as compared
to losses of RM2.4 million in 2002.
Perniagaan rekreasi menyumbangkan perolehan sebanyak
RM9.3 juta (2002:RM9.4 juta).Walau bagaimanapun sektor
ini telah mengalami kerugian sebelum cukai sebanyak
RM5.9 juta [2002: (RM0.3 juta)]. Usaha-usaha bagi
menaiktaraf kemudahan sukan golf, sukan-sukan lain dan
kemudahan seminar terus dipertingkatkan di samping
menawarkan pelbagai promosi seperti ‘Program Golf
Junior’ untuk meningkatkan perolehan PerangsangTempler
Golf Club (“PTGC”).Bagi memperlengkapkan kemudahankemudahan latihan dan seminar, PTGC telah juga menambah
lapan (8) unit apartmen untuk ditawarkan kepada para
pelanggan.
Prospek
Prestasi hotel-hotel Kumpulan dijangka meningkat selaras
dengan pemulihan industri perhotelan Malaysia pada
tahun 2004. Dengan berakhirnya wabak SARS dan
meningkatnya penerbangan antarabangsa, kehadiran
pelancong-pelancong pada tahun 2004 dijangka mencecah
12.5 juta.
Insentif-insentif baru yang disediakan oleh Kerajaan dalam
Bajet 2004 seperti menyediakan sumber pembiayaan yang
tinggi bagi aktiviti promosi dan pemberian pelepasan
cukai untuk projek-projek pelancongan dan perhotelan
akan membantu mempercepat pemulihan industri ini.
Kumpulan turut memanfaatkan peluang-peluang yang
diperolehi daripada aktiviti-aktiviti promosi yang dijalankan
oleh Kerajaan di pasaran serantau seperti China, Taiwan,
Hong Kong, India dan negara-negara ASEAN serta
menembusi pasaran-pasaran baru seperti Pakistan,
Indochina dan New Zealand.
Dalam masa yang sama, pertumbuhan ekonomi yang
menggalakkan di negara-negara rakan niaga Malaysia
seperti US, Jepun dan Eropah akan turut memberi kesan
positif terhadap industri pelancongan dan perhotelan
di Malaysia.
The recreational business contributed revenue of RM9.3
million (2002: RM9.4 million) and losses before tax of
RM5.9 million [2002: (RM0.3 million)]. Efforts were
continually directed at upgrading of the golfing, sporting
and seminar facilities as well as offering various promotion
events such as the Junior Golf Programme to increase
patronage. To complement its seminar and training
facilities, Perangsang Templer Golf Club (“PTGC”) has
added eight (8) units of service apartments to provide
residential packages for its clients.
Prospects
Performance of the Group’s hotel business is anticipated
to improve in tandem with Malaysia’s tourism industry
which is expected to trend upwards in the year ahead
due to rising confidence in air travel and diminished
concern of the re-emergence of SARS. For 2004, tourist
arrivals are expected to reach 12.5 million.
The Group’s hotel business will be further boosted by
Government incentives that include, amongst others,
more funds for promotional and tax allowances for hotels
and tourism projects as outlined in Budget 2004. The
Group will also capitalise on the Government’s promotion
activities to traditional markets namely China, Taiwan,
Hong Kong,India and ASEAN countries and new markets
such as Pakistan,Indochina and New Zealand.
The improved prospects of the regional economies and
the favourable outlook in the US, Japan and Europe will
have a favourable spill-over for the Malaysian tourism
industry, and in turn,the hotel industry in the near term.
TRADING AND MANUF
PERD AGANGAN DAN PEMB
UAT AN
Tinjauan Industri
Iklim dagangan bagi bahan-bahan binaan sangat mencabar
pada tahun kewangan 2003. Secara amnya, tidak banyak
projek-projek hartanah baru dilancarkan pada tahun 2003
disebabkan keyakinan pengguna yang rendah kesan daripada
keadaan geopolitik yang tidak menentu dan serangan wabak
SARS. Akibatnya, permintaan terhadap bahan-bahan
binaan berkurangan.Iklim dagangan semakin sengit dengan
bertambahnya syarikat-syarikat baru yang dimiliki oleh
pemaju-pemaju hartanah dan pengilang-pengilang memasuki
pasaran yang sama.
Perdagangan bagi bahan-bahan kimia perawatan air dan
peralatan serta bahan-bahan kimia perawatan sisa pepejal
semakin berpotensi disebabkan hanya beberapa syarikat
sahaja beroperasi dalam pasaran industri ini yang pesat
pertumbuhannya.
ACTURING
Industry Review
The trading environment for building materials was very
challenging for the financial year 2003.Generally, property
launches fell in 2003 as consumer confidence in early
2003 was affected by geopolitical uncertainties and the
outbreak of SARS. Hence, the weak demand for building
materials. The trading environment is becoming more
saturated with new players coupled with property developers
and manufacturers establishing their own trading arms
entering the market for building materials.
Trading in water and wastewater treatment chemicals
and equipment,however, remained a robust business with
a f ew key players operating in a growing market in the
water and wastewater treatment industries.
23
Tinjauan Prestasi
Pada tahun kewangan 2003,sektor dagangan mencatatkan
perolehan sebanyak RM56.2 juta (2002: RM30.6 juta).
Pertumbuhan sebanyak 84% berbanding dengan tahun
2002 adalah disebabkan penambahan sumber perolehan
pada tahun 2003.Selain daripada Perangsang Dagang Sdn
Bhd (“PDSB”), yang terlibat dalam perniagaan bahanbahan binaan, KPS pada tahun kewangan 2003 melalui
syarikat subsidiarinya,Hydrovest Sdn Bhd (“Hydrovest”),
telah menguasai 60% ekuiti dalam Aqua-Flo Sdn Bhd,
sebuah syarikat yang menceburi perniagaan bahan kimia
perawatan air minuman dan bahan-bahan kimia perawatan
sisa pepejal serta peralatan untuk industri air dan industri
perawatan sisa pepejal. PDSB dan Kumpulan Hydrovest
masing-masing mencatatkan perolehan sebanyak RM34.1
juta dan RM22.1 juta.
Dalam persekitaran dagangan bahan binaan yang sengit,
PDSB menanggung kerugian sebelum cukai sebanyak
RM0.7 juta,sementara Kumpulan Hyrovest menyumbangkan
keuntungan sebelum cukai sebanyak RM1.8 juta pada tahun
kajian. Bahagian keuntungan daripada syarikat bersekutu,
Hua Joo Seng,yang terlibat dalam pembuatan dan pengedaran
cat berjenama Nippon,berjumlah RM7.2 juta.
Prospek
Berikutan daripada pemulihan pasaran hartanah, yang
sekaligus menggerakkan aktiviti-aktiviti pembangunan
hartanah dengan pesat,permintaan terhadap bahan-bahan
binaan dan cat juga dijangka meningkat. Sumbangan dari
dagangan bahan kimia dan peralatan bagi industri air dan
rawatan kumbahan dijangka akan turut meningkat di masa
hadapan terutama apabila Skim Langat II dilaksanakan dan
projek loji rawatan air Sungai Selangor Fasa 3 siap
sepenuhnya. Kumpulan Hydrovest sedang giat membuat
penyelidikan terhadap produk-produk baru bertujuan
mempertingkatkan kepelbagaian produk dan kualiti
perkhidmatan syarikat dalam industri air dan industri
perawatan sisa pepejal. Pengurusan berkeyakinan bahawa
sektor ini akan berjaya menyumbang kepada perolehan
Kumpulan secara berkesan pada tahun-tahun akan datang.
DATIN PADUKA JUMA’AH BINTI MOKTAR
DSSA,ASA,PJK
Pengarah Urusan
Performance Review
For the financial year 2003, the trading sector recorded
revenue of RM56.2 million (2002: RM30.6 million).The
84% growth as compared to 2002 was attributed to having
expanded sources of revenue in the financial year 2003.
In addition to Perangsang Dagang Sdn Bhd (“PDSB”),
which is principally involved in the trading of building
materials, KPS has during the financial year 2003,
acquired through its subsidiary, Hydrovest Sdn Bhd
(“Hydrovest”),a 60% equity interest in Aqua-Flo Sdn Bhd,
a company involved in the trading of potable water and
wastewater treatment chemicals and equipment for the
water and wastewater industry. PDSB and Hydrovest group
posted revenue of RM34.1 million and RM22.1 million
respectively.
In line with a challenging trading environment for building
materials,PDSB sustained a loss before tax of RM0.7 million.
The Hydrovest group contributed pre-tax profit amounting
to RM1.8 million for the year under review while share
of profits from associated company, Hua Joo Seng,which
is involved in the manufacturing and distribution of
Nippon Paint,amounted to RM7.2 million.
Prospects
With the upturn of the property market,which will spur
a surge in property development activities, the demand
for building materials is expected to increase in tandem.
Contribution from chemical and equipment trading is
envisaged to grow in future with more water supply and
waste treatment projects coming onstream especially
with the completion of the Sungai Selangor Phase 3
water treatment plants and the implementation of Langat
II Scheme. The Hydrovest group is actively investigating
into the feasibilities of upstream synergistic activities
such as manufacturing of chemicals and increasing
its range of products and services for the water and
wastewater industries.The Management is confident that
the trading and manufacturing sector will continue to
contribute positively to the Group’s earnings in the years
ahead.
DATIN PADUKA JUMA’AH BINTI MOKTAR
DSSA,ASA,PJK
Managing Director
MAKLUMAT KORPORAT
CORPORATE INFORMATION
LEMBAGA PENGARAH
BOARD OF DIRECTORS
1. YBhg Dato' Haji Zabir bin Bajuri,DPMS,SSA,KMN,PPT
- Pengerusi Eksekutif/Executive Chairman
2. YBhg Datin Paduka Juma'ah binti Moktar, DSSA,ASA,PJK
- Pengarah Urusan/Managing Director
3.YBhg Dato' Haji Azlan bin Hashim,DSSA,DSNS
- Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
4. YBhg Dato' Haji Ab. Halim bin Mohyiddin,DPMS
5.YBhg Dato' Haji Sumadi bin Haji Ismail,DPTJ,JP
AHLI-AHLI JA WAT ANKUASA A UDIT
A UDIT COMMITTEE MEMBERS
1.YBhg Dato' Haji Ab. Halim bin Mohyiddin,DPMS
Pengerusi - Pengarah Bukan Eksekutif Bebas
Chairman - Independent Non-Executive Director
Ahli - Pengarah Urusan
Member - Managing Director
3. YB Senator Dato' Ikhwan Salim bin Dato' Sujak,DSIS,PJK
Ahli - Pengarah Bukan Eksekutif Bebas
Member - Independent Non-Executive Director
4. YBhg Dato' Yip Kam Chong,DSSA,AMS
Ahli - Pengarah Bukan Eksekutif Bukan Bebas
Member - Non-Independent Non-Executive Director
6. YB Senator Dato' Ikhwan Salim bin Dato' Sujak,DSIS,PJK
5.YBhg Dato' Haji Sumadi bin Haji Ismail DPTJ,JP
7. YB Dato' Dr. Haji Karim bin Haji Mansor, DPMS,ASA,PJK
- Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
AHLI-AHLI JA WAT ANKUASA SKIM OPSYEN
SAHAM KAKITANGAN (“ESOS”)
EMPLOYEE SHARE OPTION SCHEME (“ESOS”)
COMMITTEE MEMBERS
1.YBhg Dato' Yip Kam Chong,DSSA,AMS
Pengerusi - Pengarah Bukan Eksekutif Bukan Bebas
Chairman - Non-Independent Non-Executive Director
8. YB Dato' Ahmad Bhari bin Abd.Rahman,DSSA,PPT, JP
9.YBhg Dato' Yip Kam Chong,DSSA,AMS
2. YBhg Dato’ Haji Zabir bin Bajuri,DPMS,SSA,KMN,PPT
Ahli - Pengerusi Eksekutif
Member - Executive Chairman
4.Puan Rosni binti Rahmat,SMS,ASA,PJK
Ahli - Pengurus Besar, Sumber Manusia/Pentadbiran
Member - General Manager, Human Resource/Administration
5.Encik Arthur Wong Yien Kim,ASA,PPT
Ahli - Pengurus Besar, Kewangan
Member - General Manager, Finance
AHLI-AHLI JA WAT ANKUASA PENCALONAN
NOMINATION COMMITTEE MEMBERS
2. YBhg Dato’ Haji Zabir bin Bajuri,DPMS,SSA, KMN,PPT
Ahli - Pengerusi Eksekutif
Member - Executive Chairman
3.YBhg Dato’ Haji Sumadi bin Haji Ismail,DPTJ,JP
AHLI-AHLI JA WAT ANKUASA IMBUHAN
REMUNERATION COMMITTEE MEMBERS
JUR UA UDIT DAN AKAUNTAN BERLAPOR
AUDITOR AND REPORTING
ACCOUNTANT
Messrs PricewaterhouseCoopers
10 & 11 Floor,Wisma Sime Darby
Jalan Raja Laut,50350 Kuala Lumpur
PENYENARAIAN
LISTING
Papan Utama Bursa Malaysia (22 Julai 2003)
Bursa Malaysia Main Board (22 July 2003)
PENGURUSAN
MANAGEMENT
1. Pejabat Pengerusi Eksekutif/Office of Executive Chairman
- YBhg Dato' Haji Zabir bin Bajuri,DPMS,SSA,KMN,PPT
Pengerusi Eksekutif/Executive Chairman
2.YBhg Dato’ Haji Ab. Halim bin Mohyiddin,DPMS
2. Pejabat Pengarah Urusan/Office of Managing Director
- YBhg Datin Paduka Juma'ah binti Moktar, DSSA,ASA,PJK
Pengarah Urusan/Managing Director
3.Bahagian Sumber Manusia dan Pentadbiran/
Human Resource and Administration Division
- Puan Rosni binti Rahmat,SMS,ASA,PJK
Pengurus Besar/General Manager
SETIAUSAHA-SETIAUSAHA SYARIKA
T
COMPANY SECRETARIES
YBhg Datin Paduka Juma'ah binti Moktar , DSSA,ASA,PJK
No. 15,Jalan 1/6, Taman Tun Abdul Razak,
68000 Ampang,Selangor Darul Ehsan
Puan Hashimah binti Mohd Isa,PPT
No. 48,Jalan SS19/5B,47500 Subang Jaya
Selangor Darul Ehsan
PEJABAT BERDAFTAR
REGISTERED OFFICE
Tingkat 16,Plaza Perangsang, Persiaran Perbandaran
40000 Shah Alam,Selangor Darul Ehsan
Tel:03-5510 3999 Fax: 03-5510 9977
BANK-BANK UTAMA
PRINCIPAL BANKERS
Bumiputra Commerce Bank
Lot P5.5,Bangunan UMNO, Persiaran Perbandaran
Seksyen 14,40000 Shah Alam
RHB Bank Berhad
No. 16 & 18,Jalan Tengku Ampuan Zabedah D9/D
40100 Shah Alam
4. Bahagian Kewangan/Finance Division
- Encik Arthur Wong Yien Kim,ASA,PPT
6. Bahagian Audit Pengurusan/Management Audit Division
- Encik Revi Pillai,ASA
7. Bahagian Komunikasi Korporat Awam/
Corporate Public Communications Division
- Encik Latip bin Sadali
8. Bahagian Perancang Korporat/
Corporate Planning Division
- Encik Mohd Noor bin Ismail,PPT
9.Bahagian Kesetiausahaan/Secretarial Division
- Puan Hashimah binti Mohd Isa,PPT
Setiausaha Syarikat/Company Secretary
OCBC Bank Berhad
Mezzanine Floor,Wisma Lee Rubber
Jalan Melaka,50100 Kuala Lumpur
EON Bank Berhad
No. 34,Jalan Perbahan Satu
Seksyen 26/2A,40000 Shah Alam
27
PROFIL KORPORAT
CORPORATE PROFILE
LA TARBELAKANG
Kumpulan Perangsang Selangor Berhad (“KPS”) telah
ditubuhkan pada 11 Ogos 1975 sebagai syarikat induk
pegangan pelaburan, dengan modal dibenar sebanyak
RM75 juta. KPS telah disenaraikan di Bursa Malaysia
(sebelum ini dikenali sebagai Bursa Saham Kuala Lumpur)
pada 22 Julai 2003 dengan modal dibenar dan modal
berbayar sebanyak RM1.0 bilion dan RM431.4 juta masingmasing. Penyenaraian KPS adalah sebahagian daripada
hasil penggabungan korporat anak-anak syarikat di bawah
Kumpulan Darul Ehsan Berhad (“KDEB”), syarikat induk
bagi KPS, sementara KDEB pemegang saham terbesar
KPS ialah syarikat induk pelaburan milik penuh Kerajaan
Negeri Selangor melalui Pemerbadanan Menteri Besar
Selangor 1994.
PROFIL PERNIAGAAN
Sejak dari penubuhannya, aktiviti-aktiviti utama KPS
dilaksanakan oleh anak-anak syarikat subsidiari dan syarikat
bersekutu di mana pada awalnya,aktiviti-aktiviti difokuskan
kepada perlombongan bijih timah,pembangunan hartanah
dan sektor perhotelan. Di peringkat awal operasinya, KPS
merupakan salah sebuah syarikat yang kukuh dalam
sektor perlombongan bijih timah dan hartanah.
Dalam tempoh masa sedekad, KPS berkembang menjadi
sebuah syarikat konglomerat yang aktif dengan kepelbagaian
operasi seperti pembinaan,pembuatan,pembangunan hartanah,
pengurusan hartanah,perlombongan bijih timah,perdagangan,
pengurusan hotel dan rekreasi.Pada dekad seterusnya di mana
keadaan ekonomi mengalami kemelesetan pada tahun 1984
- 1987, Kumpulan KPS mempelbagaikan perniagaannya
kepada sektor-sektor hartanah dan perlombongan,di mana
sektor ini mengalami kesan teruk akibat kemelesetan
ekonomi tersebut. KPS kemudiannya dalam tahun 1992
tidak lagi terlibat dalam sektor perlombongan bijih timah.
Berikutan dengan penggabungan tersebut,semua perniagaan
dalam sektor infrastruktur dan utiliti Kumpulan KDEB
telah diletakkan di bawah pengawasan KPS. Syarikat kini
memberi tumpuan kepada perniagaan di dalam sektor
Infrastruktur dan Utiliti manakala perniagaan di dalam sektor
Hartanah dan Hospitaliti dan Rekreasi diambil alih oleh anak
syarikatnya, Kumpulan Hartanah Selangor Berhad (“KHSB”)
dimana KPS mempunyai kepentingan sebanyak 52.07%.
KPS mempunyai kepentingan sebagai pemegang saham
di dalam syarikat-syarikat pengeluar air iaitu Syarikat Pengeluar
Air Selangor Holdings Berhad (“SPLASH”) sebanyak 30%,
Konsortium Abass Sdn. Bhd. (“ABASS”) sebanyak 30%,
dan Taliworks Corporation Berhad sebanyak 20%. Teras
perniagaan KPS menjadi lebih bersepadu dalam aktiviti
perawatan air sebagai kontraktor pembinaan loji rawatan
air dan penyedia perkhidmatan yang berkaitan dengan
bekalan air. KPS dijangka menjadi syarikat pengeluar air
terbesar di negara ini dengan menjadi pemegang saham
utama dalam syarikat konsesi dan perlantikannya sebagai
Kontraktor Utama bagi merekabentuk dan membina Skim
Langat II serta menyelenggara loji-loji rawatan air. Skim
BACKGROUND
Kumpulan Perangsang Selangor Berhad (“KPS”) was
incorporated on 11 August 1975 as a holding company
with an authorised capital of RM75 million.The company
was listed on Bursa Malaysia (formerly known as Kuala
Lumpur Stock Exchange) on 22 July 2003 with an
authorised capital of RM1.0 billion and an enlarged
paid-up capital of RM431.4 million. The listing of KPS
was part of a corporate merger exercise of its holding
company, Kumpulan Darul Ehsan Berhad (“KDEB”), its
major shareholder which is wholly-owned by Menteri
Besar Selangor (Incorporated) 1994.
B USINESS PROFILE
From its incorporation, KPS’s principal activities were
undertaken through its subsidiaries and associated
companies with initial activities centered in the tin mining,
property development and hotel sectors. During the
initial period of operations, KPS established a siginificant
presence in the tin mining and property sectors.
Within a decade, KPS had grown into a conglomerate of
active companies with diverse operations including
construction, manufacturing, property development,
property management, tin mining, trading, hotel and
recreation management. The next decade that coincided
with a depressed economy in 1984-1987 saw the KPS
Group diversify into new business areas to reduce its overdependence on the mining and property sectors, which
were adversely affected by the economic recession. KPS
subsquently withdrew from the tin mining sector in 1992.
Pursuant to the merger, the infrastructure and utility
businesses of KDEB Group were rationalised,consolidated
and streamlined under KPS. The company currently
focuses on Infrastructure and Utility businesses while its
Property and Hospitality and Recreation businesses are
undertaken by its public-listed vehicle, Kumpulan Hartanah
Selangor Berhad (“KHSB”),which it owns 52.07%.
KPS holds strategic stakes in major water supply companies
namely, Syarikat Pengeluar Air Selangor Holdings Berhad
(30%), Konsortium Abass SdnBhd (30%) and Taliworks
Corporation Berhad (20%). KPS is now well placed to
become a fully integrated water utility operator, contractor
and service provider involved in both upstream and
downstream activities. It is envisaged that KPS will be
propelled to become the largest water player in the
country upon securing a majority share in the concession
company, its appointment as Main Contractor for the
design and construction of the Langat II Scheme and its
participation in the operations and maintenance of the
water treatment plants.The Langat II Scheme is part of
Langat II yang merupakan sebahagian daripada Projek
Pemindahan Air Mentah dari Pahang ke Selangor akan
mempunyai kapasiti sebanyak 2,180 juta liter sehari.KPS
telahpun memulakan kerja-kerja rekabentuk kejuruteraan
dan kerja-kerja ukur tanah bagi projek ini.
Penglibatan KPS dalam sektor infrastruktur pula adalah
melalui kepentingan di dalam Sprint Holdings Sdn Bhd,
syarikat konsesi bagi Lebuhraya SPRINT. Berdasarkan
kelulusan yang diperolehi daripada pihak Kerajaan, KPS
akan memegang 20% ekuiti dalam projek penswastaan
Lebuhraya Persisiran Pantai Barat yang akan dilaksanakan
menjelang akhir tahun 2004.
Untuk memperkukuhkan pulangan serta meningkatkan
nilai pelaburan pemegang saham,KPS juga berazam untuk
meneroka pasaran global dalam sektor infrastruktur dan
utiliti. KPS akan menggunakan pengalamannya di bidang
ini untuk memanfaatkan peluang-peluang yang wujud.
Kini, KPS sedang meneliti daya maju beberapa projek
penswastaan air dan projek pembinaan lebuhraya
di rantau ini.
the Pahang Interstate Raw Water Transfer Project, and
upon completion, the scheme will have a total capacity of
2,180 million litres per day. KPS has commenced the
engineering design and ground survey works for the
project.
KPS’s participation in the infrastructure sector is through
its interest in Sprint Holdings Sdn Bhd,the concessionaire
for SPRINT Highway. Subject to regulator y approval,KPS
will also hold a 20% equity interest in the privatization of
the West Coast Expressway project.
KPS is geared to become a global infrastructure and utility
player in an endeavour to strengthen its earnings base
and enhance shareholder value. Towards this end, KPS
will leverage its experience to capitalise on opportunities,
which may arise in the global arena. Currently, KPS is
conducting viability assessments of a water supply project
and highway development project in the region.
STRUKTUR KORPORAT
CORPORATE STRUCTURE
Anak-anak Syarikat
Subsidiary Companies
Syarikat-syarikat Bersekutu
Associated Companies
Perangsang Consultancy & Engineering Sdn Bhd (100%)
Perkuat Kuari Sdn Bhd (50%)
Selangor Amal Holdings Sdn Bhd (100%)
Perangsang Water Management Sdn Bhd (40%)
Darul Ehsan Bina Sdn Bhd (70%)
Konsortium ABASS Sdn Bhd (30%)
Hydrovest Sdn Bhd (60%)
Syarikat Pengeluar Air Selangor Holdings Berhad (30%)
Perangsang Dagang Sdn Bhd (55%)
Hua Joo Seng Enterprise Berhad (20%)
Kumpulan Hartanah Selangor Berhad (52.07%)
Taliworks Corporation Berhad (20%)
Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (20%)
PROFIL
LEMBAGA PENGARAH
PROFILE OF
BOARD OF DIRECTORS
YBhg Dato’ Haji Zabir bin Bajuri
, DPMS,SSA,KMN,
PPT, warganegara Malaysia, berusia 57 tahun, dilantik
sebagai Pengerusi Eksekutif Kumpulan Perangsang
Selangor Berhad (“KPS”) pada 1 September 1998. Beliau
memiliki Ijazah Sarjana Muda Ekonomi (Kepujian) dari
Universiti Malaya pada tahun 1970 dan Certificate of
Commercial Banking dari Manchester Business School,
United Kingdom dalam tahun 1978.
Dato’ Haji Zabir memulakan kerjaya sebagai Pembantu
Ekonomi di Bank Negara Malaysia pada tahun 1970 dan
pada tahun berikutnya,menyertai Perbadanan Pembangunan
Pulau Pinang sebagai Pengarah, Pembangunan Perumahan
dan Bandar.
Pada tahun 1974, Dato’ Haji Zabir menyandang jawatan
Pengurus Bahagian Perkhidmatan Khas Bumiputera di
Bank Bumiputra Malaysia Berhad dan pada tahun 1979,
dilantik sebagai Ketua Eksekutif Credit Guarantee
Corporation Berhad.Beliau memegang jawatan Pengarah
Urusan KPS dari tahun 1987 hingga 1995.Dato’ Haji Zabir
menerajui DZB Resources Group sebagai Pengerusi
Eksekutif dari tahun 1995 hingga 1998.Beliau menganggotai
Lembaga Kumpulan Darul Ehsan Berhad dan menyandang
jawatan Presiden sejak 1 September 1998.
Dato’ Haji Zabir juga adalah Pengerusi Kumpulan
Hartanah Selangor Berhad (“KHSB”) dan Taliworks
Corporation Berhad.
YBhg Dato' Haji Zabir bin Bajuri
, DPMS,SSA,KMN,
PPT, a Malaysian, aged 57, was appointed Executive
Chairman of Kumpulan Perangsang Selangor Berhad (“KPS”)
on 1 September 1998. He graduated with a Bachelor of
Economics (Hons.) from University of Malaya in 1970 and
obtained his Certificate of Commercial Banking from
Manchester Business School,United Kingdom in 1978.
Dato’ Haji Zabir began his career in 1970 as Assistant
Economist at Bank Negara Malaysia and in 1971 was
appointed Director of Housing and City Development at
Penang Development Corporation.
In 1974, Dato’ Haji Zabir was appointed Manager of
Bumiputera Special Services Division at Bank Bumiputra
Malaysia Berhad and in 1979, Chief Executive of Credit
Guarantee Corporation Berhad. Dato’ Haji Zabir was
appointed Group Managing Director of KPS in 1987, a
position held until 1995.He was the Executive Chairman
of DZB Resources Group of Companies from 1995 to
1998. Dato’ Haji Zabir currently sits on the Board of
Kumpulan Darul Ehsan Berhad as President, a position
held since 1 September 1998.
Dato’ Haji Zabir is also the Chairman of Kumpulan
Hartanah Selangor Berhad (“KHSB”) and Taliworks
Corporation Berhad.
YBhg Dato' Haji Azlan bin Hashim
, DSSA, DSNS,
warganegara Malaysia, berusia 62 tahun, telah dilantik
ke Lembaga Pengarah Kumpulan Perangsang Selangor
Berhad (“KPS”) pada 24 Julai 1989. Dato' Haji Azlan
mendapat pendidikan profesional dari Institute of Chartered
Accountants di Dublin pada tahun 1966.
Selepas tamat pengajian, beliau memulakan kerjaya
dengan Malayan Railways dari tahun 1966 hingga 1971
di mana beliau menyandang jawatan sebagai Ketua Akauntan
selama dua (2) tahun. Pada tahun 1972, beliau menjadi
rakan kongsi di Messrs.Azman Wong Salleh & Co.,sebuah
firma akauntan awam,sebelum menjadi Pengarah Urusan
Arab Malaysia Development Berhad pada tahun 1982.
Dato' Haji Azlan berkhidmat sebagai Presiden Persekutuan
Syarikat-Syarikat Tersenarai dari tahun 1994 hingga 1998.
Pada April 2000, beliau dilantik sebagai Konsul Jeneral
Kehormat Jamaica di Malaysia.
YBhg Datin Paduka Juma’ah binti Moktar
, DSSA,
ASA, PJK, warganegara Malaysia, berusia 52 tahun telah
dilantik ke Lembaga Kumpulan Perangsang Selangor
Berhad (“KPS”) pada 15 Ogos 1997. Datin Paduka
Juma’ah memiliki Ijazah Sarjana Muda Undang-undang
dari University of London, United Kingdom pada tahun
1981 dan Ijazah Sarjana Pentadbiran Perniagaan dalam
tahun 1989.Beliau menghadiri kursus “Applied International
Management Programme” di Institute of Foretagledning,
Sigtuna di Sweden dalam tahun 1992.
Datin Paduka Juma’ah memulakan kerjaya pada tahun
1975 sebagai Pegawai Kredit di KPS dan seterusnya
memegang jawatan Setiausaha Syarikat/Penasihat
Undang-undang Kumpulan KPS dari tahun 1981 hingga
tahun 1996. Beliau menyandang jawatan Naib Presiden,
Kumpulan Darul Ehsan Berhad (“KDEB”) dan Pengarah
Eksekutif, Brisdale Holdings Berhad pada Jun 1996 dan
pada Julai 1997 dilantik sebagai Ketua Pegawai Eksekutif
KPS.Datin Paduka Juma’ah menganggotai Lembaga KDEB
pada 15 Ogos 1997 dan ketika ini menyandang jawatan
Timbalan Presiden KDEB.
Datin Paduka Juma’ah juga menganggotai Lembaga Pengarah
Kumpulan Hartanah Selangor Berhad (“KHSB”),Worldwide
Holdings Berhad, Hua Joo Seng Enterprise Berhad dan
Taliworks Corporation Berhad.
YBhg Datin Paduka Juma'ah binti Moktar
, DSSA,
ASA, PJK, a Malaysian, aged 52, was appointed to the
Board of Kumpulan Perangsang Selangor Berhad (“KPS”)
as Director on 15 August 1997. Datin Paduka Juma’ah
graduated with a Bachelor of Laws from University of
London,United Kingdom in 1981 and obtained her Master
in Business Administration in 1989.In 1992,she attended
the ‘Applied International Management Programme’ at
the Institute of Foretagledning,Sigtuna in Sweden.
Ketika ini Dato’ Haji Azlan juga adalah ahli Lembaga AMMB
Holdings Berhad, AMFB Holdings Berhad, AMDB Berhad,
Arab Malaysian Corporation Berhad, Metrod (M) Berhad,
Paramount Corporation Berhad, Sapura Motors Berhad
dan Global Carriers Berhad.
YBhg Dato' Haji Azlan bin Hashim
, DSSA, DSNS, a
Malaysian,aged 62,was appointed to the Board of Kumpulan
Perangsang Selangor Berhad (“KPS”) as Director on 24
July 1989.He obtained his professional qualification from
the Institute of Chartered Accountants in Dublin in 1966.
Upon graduation,he joined Malayan Railways in 1966 and
served till 1971. He was its Chief Accountant for two
(2) years.In 1972,he became a partner of Messrs.Azman
Wong Salleh & Co., a public accounting firm, prior to
becoming the Managing Director of Arab Malaysia
Development Berhad in 1982.
Dato' Haji Azlan served as President of the Federation of
Public Listed Companies from 1994 to 1998. In April
2000, he was appointed the Honorary Consul General
of Jamaica in Malaysia.
Presently, Dato’ Haji Azlan also sits on the Boards of AMMB
Holdings Berhad, AMFB Holdings Berhad, AMDB Berhad,
Arab Malaysian Corporation Berhad, Metrod (M) Berhad,
Paramount Corporation Berhad, Sapura Motors Berhad
and Global Carriers Berhad.
Datin Paduka Juma’ah began her career in 1975 as Credit
Officer KPS and held the position of Company Secretary
and Group Legal Adviser to the KPS Group from 1981
to 1996. In June 1996, she held the position of Vice
President Kumpulan Darul Ehsan Berhad (“KDEB”) and
Executive Director of Brisdale Holdings Berhad.She was
appointed Chief Executive Officer of KPS in July 1997.
Datin Paduka Juma’ah was appointed to the Board of
KDEB as Director on 15 August 1997 and currently holds
the position of Deputy President KDEB.
Datin Paduka Juma’ah also sits on the Boards of Kumpulan
Hartanah Selangor Berhad (“KHSB”), Worldwide Holdings
Berhad, Hua Joo Seng Enterprise Berhad and Taliworks
Corporation Berhad.
31
YB Senator Dato' Ikhwan Salim bin Dato' Sujak
,
DSIS, PJK, warganegara Malaysia, berusia 47 tahun, telah
dilantik ke Lembaga Pengarah Kumpulan Perangsang
Selangor Berhad (“KPS”) pada 1 September 2001.Beliau
memperolehi Ijazah dalam bidang Ekonomi/Perakaunan
dari Queen's University, Belfast, United Kingdom pada
tahun 1977.
YBhg Dato' Haji Ab . Halim bin Mohyiddin , DPMS,
Berhad (“KPS”) pada 2 Julai 1987. Beliau memiliki Ijazah
Sarjana Muda Ekonomi (Perakaunan) dari Universiti
Malaya dan juga Sarjana Pentadbiran Perniagaan dari
University of Alberta, Edmonton, Canada. Beliau adalah
ahli Malaysian Institute of Accountants, Malaysian
Association of Certified Public Accountants, Malaysian
Institute of Taxation,Institute of Cooperative Auditors dan
Association of Certified Fraud Examiners,USA.
Dato’ Haji Ab. Halim merupakan rakan kongsi di KPMG/
KPMG Desa Megat & Co. dari tahun 1985 hingga kini.
Dari tahun 1977 hingga 1985,beliau memegang beberapa
jawatan di Peat Marwick/Desa Megat & Co. di Malaysia
dan Amerika Syarikat. Sebelum menyertai KPMG, beliau
adalah Ahli Fakulti Ekonomi, Universiti Kebangsaan
Malaysia.
Dato’ Haji Ab. Halim juga menganggotai Lembaga Pengarah
Hei-Tech Padu Berhad,Arab Malaysia Corporation Berhad,
MCM Technologies Berhad,Utusan Melayu Malaysia Berhad,
Digi-Com Berhad, Amway (Malaysia) Holdings Berhad,
Idaman Unggul Berhad dan KNM Group Berhad.
Beliau bertugas sebagai Akauntan di Nestle Berhad dari
tahun 1979 hingga 1980 sebelum dilantik menjadi Pengurus
Perancangan Kewangan Kumpulan di General Corporation
Berhad.Pada ketika ini,Senator Dato’ Ikhwan menguruskan
perniagaannya sendiri,Jaya Holdings Sdn Bhd.
Senator Dato’ Ikhwan Salim turut menganggotai Lembaga
Pengarah Glomac Berhad dan Ayer Hitam Tin Dredging
Malaysia Berhad.
YB Senator Dato' Ikhwan Salim bin Dato' Sujak
,
DSIS, PJK, a Malaysian, aged 47, was appointed to the
as Director on 1 September 2001. He graduated with a
Degree in Economics/Accounting from Queen's University
in Belfast,United Kingdom in 1977.
He served as an Accountant at Nestle Berhad from 1979
to 1980 before being appointed Group Financial Planning
Manager at General Corporation Berhad.Presently, Senator
Dato' Ikhwan runs his own private business,Jaya Holdings
Sdn Bhd.
Senator Dato’ Ikhwan Salim also sits on the Boards of
Glomac Berhad and Ayer Hitam Tin Dredging Malaysia Berhad.
YBhg Dato' Haji Ab . Halim bin Mohyiddin , DPMS, a
Malaysian, aged 58, was appointed to the Board of
Kumpulan Perangsang Selangor Berhad (“KPS”) as
Director on 2 July 1987. He holds a Bachelor of
Economics (Accounting) from the University of Malaya
and a Master in Business Administration from University
of Alberta, Edmonton, Canada. He is a member of the
Malaysian Institute of Accountants,Malaysian Association
of Certified Public Accountants, Malaysian Institute of
Taxation,Institute of Cooperative Auditors and Association
of Certified Fraud Examiners,USA.
Dato’ Haji Ab. Halim is presently a partner in KPMG/
KPMG Desa Megat & Co.,a position he held since 1985.
From 1977 till 1985,he held various positions with Peat
Marwick/Desa Megat & Co., both in Malaysia and the
USA.Prior to joining KPMG,he was a Faculty Member of
the Faculty of Economics,Universiti Kebangsaan Malaysia.
Dato’ Haji Ab. Halim also sits on the Boards of
Hei-Tech Padu Berhad,Arab Malaysia Corporation Berhad,
MCM Technologies Berhad,Utusan Melayu Malaysia Berhad,
Digi-Com Berhad, Amway (Malaysia) Holdings Berhad,
Idaman Unggul Berhad and KNM Group Berhad.
YBhg Dato' Haji Sumadi bin Haji Ismail
, DPTJ, JP,
Berhad (“KPS”) pada 1 September 2001.Beliau memperolehi
Ijazah Sarjana Kesusasteraan (Kepujian) di bidang Perhubungan
Industri pada tahun 1977.
Dato’ Haji Sumadi memulakan kerjayanya pada tahun
1978 sebagai Penolong Setiausaha di Majlis Perbandaran
Petaling Jaya sebelum menerajui Jabatan Perkhidmatan
Perbandaran pada tahun 1980. Dari tahun 1985 hingga
1994, beliau menjalankan perniagaannya sendiri sehingga
menjadi Ahli Majlis Daerah Kuala Selangor pada tahun
1995.
YBhg Dato' Haji Sumadi bin Haji Ismail
, DPTJ, JP,
a Malaysian, aged 50, was appointed to the Board of
Kumpulan Perangsang Selangor Berhad (“KPS”) as
Director on 1 September 2001. He graduated with a
Bachelor of Arts (Hons.) in Industrial Relations in 1977.
Dato' Haji Sumadi began his career in 1978 as an
Assistant Secretary of Majlis Perbandaran Petaling Jaya
before heading the Department of Urban Services in
1980. From 1985 he was on his own until he became
Ahli Majlis Daerah Kuala Selangor in 1995.
YB Dato’ Dr . Haji Karim bin Haji Mansor
, DPMS,
ASA, PJK, warganegara Malaysia, berusia 46 tahun, telah
Selangor Berhad (“KPS”) pada 15 April 2003. Beliau
memperolehi Ijazah Doktor Perubatan dari Universiti
Kebangsaan Malaysia pada tahun 1983 dan Ijazah Sarjana
Kesihatan Awam di Universiti Malaya pada tahun 1990.
Dato’ Dr. Haji Karim memulakan kerjayanya pada tahun
1984 sebagai Pegawai Perubatan Pelatih di Hospital
Daerah Taiping, sebelum dilantik menjadi Pegawai
Perubatan pada tahun yang sama.Pada tahun 1986,beliau
berkhidmat sebagai Penolong Pengarah di Bahagian
Perancang & Pembangunan, Kementerian Kesihatan
Malaysia dan pada tahun 1987, beliau berkhidmat pula
sebagai Pegawai Kesihatan & Perubatan bagi Pusat Kesihatan,
Sungai Pelek. Beliau seterusnya berkhidmat sebagai
Pegawai Kesihatan Kanan di beberapa tempat, bermula
dengan Daerah Hulu Langat pada tahun 1988,Rancangan
Kawalan Penyakit Bawaan Vektor bagi Negeri Selangor
pada tahun 1990,Daerah Kuala Selangor pada tahun 1991
dan akhir sekali Daerah Sepang dari tahun 1992 hingga
1994. Beliau kemudian memulakan perniagaannya sendiri
dengan membuka empat (4) buah poliklinik yang terletak
di Banting,Bandar Baru Salak Tinggi,Sungai Pelek,Sepang,
dan Telok Panglima Garang.Beliau juga pernah berkhidmat
sebagai Ahli Majlis Daerah Sepang pada tahun 1998.
YB Dato' Dr . Haji Karim bin Haji Mansor
, DPMS,
ASA, PJK, a Malaysian, aged 46, was appointed to the
as Director on 15 April 2003. He graduated with a
Medical Degree from Universiti Kebangsaan Malaysia in
1983 and a Master of Public Health from University of
Malaya in 1990.
Dato' Dr. Haji Karim began his career in 1984 as Trainee
Medical Officer at Hospital Daerah Taiping, before being
appointed the Medical Officer in the same year. In 1986,
he served as the Assistant Director at Bahagian Perancang
& Pembangunan, Kementerian Kesihatan Malaysia and in
1987,was appointed the Health & Medical Officer for the
Medical Centre, Sungai Pelek. He served as the Senior
Health Officer in various places,beginning with the Hulu
Langat District in 1988, Rancangan Kawalan Penyakit
Bawaan Vektor for Negeri Selangor in 1990,the District
of Kuala Selangor in 1991 and finally the Sepang District
from 1992 to 1994.He then set up his own private practice,
which includes four (4) polyclinics located in Banting,
Bandar Baru Salak Tinggi, Sungai Pelek,Sepang and Telok
Panglima Garang. He was also the Ahli Majlis Daerah
Sepang in 1998.
33
YB Dato’ Ahmad Bhari bin Abd.
Rahman , DSSA,
PPT, JP, warganegara Malaysia, berusia 55 tahun, telah
Selangor Berhad (“KPS”) pada 15 April 2003. Beliau
berkelulusan Sarjana Muda Sastera (Kepujian) dalam
Antropologi dan Sosiologi dari Universiti Malaya.
Dato’ Ahmad Bhari adalah Ahli Dewan Undangan Negeri
Gombak Setia dari tahun 1990 hingga 1995. Kini, beliau
memegang pelbagai jawatan termasuk ADUN Taman
Templer, Timbalan Pengerusi KUB Development Bhd
(Syarikat subsidiari KUB Holdings Bhd), Pengerusi
Gerakan Belia 4B Negeri Selangor dan Bendahari
Gerakan Belia 4B Malaysia.Beliau mempunyai pengalaman
bekerja selama lebih dua puluh (20) tahun dengan sektor
kerajaan,khususnya di Jabatan Kastam dan Eksais Diraja,
Jabatan Perangkaan EPU dan Lembaga Kemajuan Ikan
Malaysia di bawah Kementerian Pertanian sebagai
Pengarah untuk kawasan-kawasan di Selangor, Melaka dan
Negeri Sembilan dari tahun 1984 hingga 1988.
YB Dato' Ahmad Bhari bin Abd.
Rahman , DSSA,
PPT, JP, a Malaysian,aged 55, was appointed to the Board
of Kumpulan Perangsang Selangor Berhad (“KPS”) as
Director on 15 April 2003.He holds a Bachelor of Arts
(Hons.) in Anthropology and Sociology from University
of Malaya.
Dato' Ahmad Bhari was the State Assemblyman for
Gombak Setia from 1990 to 1995. Presently, he holds
various positions,amongst others,the State Assemblyman
for Taman Templer, Deputy Chairman of KUB Development
Bhd (subsidiary of KUB Holdings Bhd), Chairman of the
Gerakan Belia 4B Negeri Selangor and Treasurer to the
Gerakan Belia 4B Malaysia.He served in the government
sector for twenty (20) years,mainly in the Customs and
Excise Department, Statistics Department of the EPU
and the Lembaga Kemajuan Ikan Malaysia under the
Ministry of Agriculture where he ser ved as the Director
for Selangor, Malacca and Negeri Sembilan from 1984 to
1988.
YBhg Dato’Yip Kam Chong
, DSSA,AMS,warganegara
Malaysia, berusia 51 tahun, telah dilantik ke Lembaga
Pengarah Kumpulan Perangsang Selangor Berhad (“KPS”)
pada 15 April 2003.
Dato’ Yip memulakan kerjayanya dengan menguruskan
sebuah syarikat dagangan di Klang di sekitar tahun 1980-an.
Di bawah pucuk pimpanan beliau, syarikat dagangan
tersebut telah berkembang maju menjadi sebuah kumpulan
yang terlibat dalam aktiviti pembinaan, pembangunan
hartanah dan pemasaran berperingkat. Penglibatan beliau
di dalam industri pembangunan hartanah selama lebih
sepuluh (10) tahun telah merintis beberapa projek
pembangunan hartanah di Klang dan Rawang.
YBhg Dato ' Yip Kam Chong , DSSA,AMS,a Malaysian,
aged 51, was appointed to the Board of Kumpulan
Perangsang Selangor Berhad (“KPS”) as Director on 15
April 2003.
Dato' Yip began his career in the 1980s managing a trading
company in Klang.The company has now transformed
itself into a diversified group of companies involved in
construction, property development and multi-level
marketing. With vast experience in the property
development industry over a period of ten (10) years,he
has spearheaded several projects in Klang and Rawang.
Nota: Selain daripada yang dimaklumkan di dalam profil
Lembaga Pengarah, kesemua ahliLembaga Pengarah tidak
mempunyai sebarang hubungan kekeluargaan dengan manamana Pengarah dan/atau pemegang saham utama Syarikat.
Mereka tidak mempunyai kepentingan peribadi dalam
sebarang urusan perniagaan yang melibatkan Syarikat.
Mereka juga tidak pernah disabitkan dengan sebarang kesalahan
dalam tempoh sepuluh (10) tahun yang lepas.
Note:Other than disclosed in the profile of Board of Directors,
all the Directors do not have any family relationship with any
Director and/or major shareholder of theCompany.They have
no personal interest in any business arrangement involving the
Company.They have had no convictions for any offences within
the past ten (10) year s.
PROFIL
PENGURUSAN KANAN
PROFILE OF
SENIOR MANAGEMENT
, DPMS, SSA, KMN,
PPT, berusia 57 tahun, dilantik sebagai Pengerusi Eksekutif
Kumpulan Perangsang Selangor Berhad (“KPS”) pada
1 September 1998. Beliau memiliki Ijazah Sarjana Muda
Ekonomi (Kepujian) dari Universiti Malaya pada tahun 1970
dan Certificate of Commercial Banking dari Manchester
Business School,United Kingdom dalam tahun 1978.
Dato’ Haji Zabir memulakan kerjaya sebagai Pembantu
Ekonomi di Bank Negara Malaysia pada tahun 1970 dan
pada tahun berikutnya,menyertai Perbadanan Pembangunan
Pulau Pinang sebagai Pengarah, Pembangunan Perumahan
dan Bandar.
Pada tahun 1974, Dato’ Haji Zabir menyandang jawatan
Pengurus Bahagian Perkhidmatan Khas Bumiputera di Bank
Bumiputera Malaysia Berhad dan pada tahun 1979,dilantik
sebagai Ketua Eksekutif Credit Guarantee Corporation
Berhad. Beliau memegang jawatan Pengarah Urusan KPS
dari tahun 1987 hingga 1995. Dato’ Haji Zabir menerajui
DZB Resources Group sebagai Pengerusi Eksekutif dari
tahun 1995 hingga 1998. Beliau menganggotai Lembaga
Kumpulan Darul Ehsan Berhad dan menyandang jawatan
Presiden sejak 1 September 1998.
YBhg Dato' Haji bin Zabir Bajuri
, DPMS, SSA, KMN,
PPT, aged 57, was appointed Executive Chairman of
Kumpulan Perangsang Selangor Berhad (“KPS”) on
1 September 1998. He graduated with a Bachelor of
Economics (Hons.) from University of Malaya in 1970 and
obtained his Certificate of Commercial Banking from
Manchester Business School,United Kingdom in 1978.
Dato’ Haji Zabir began his career in 1970 as Assistant
Economist at Bank Negara Malaysia and in 1971 was
appointed Director of Housing and City Development at
Penang Development Corporation.
In 1974, Dato’ Haji Zabir was appointed Manager of
Bumiputera Special Services Division at Bank Bumiputera
Malaysia Berhad and in 1979, Chief Executive of Credit
Guarantee Corporation Berhad. Dato’ Haji Zabir was
appointed Group Managing Director of KPS in 1987,
a position held until 1995.He was the Executive Chairman
of DZB Resources Group of Companies from 1995 to
1998. Dato’ Haji Zabir currently sits on the Board of
Kumpulan Darul Ehsan Berhad as President,a position held
since 1 September 1998.
35
, DSSA,
ASA, PJK, berusia 52 tahun, telah dilantik ke Lembaga
Kumpulan Perangsang Selangor Berhad (“KPS”) pada 15
Ogos 1997. Datin Paduka Juma’ah memiliki Ijazah Sarjana
Muda Undang-undang dari University of London, United
Kingdom pada tahun 1981 dan Ijazah Sarjana Pentadbiran
Perniagaan dalam tahun 1989. Beliau menghadiri kursus
“Applied International Management Programme” di Institut
Foretagledning,Sigtuna di Sweden dalam tahun 1992.
Datin Paduka Juma’ah memulakan kerjaya beliau pada tahun
1975 sebagai Pegawai Kredit di KPS dan seterusnya
memegang jawatan Setiausaha Syarikat/Penasihat Undangundang Kumpulan KPS dari tahun 1981 hingga tahun 1996.
Datin Paduka Juma’ah menyandang jawatan Naib Presiden,
Kumpulan Darul Ehsan Berhad (“KDEB”) dan Pengarah
Eksekutif,Brisdale Holdings Berhad pada Jun 1996 dan pada
Julai 1997 dilantik sebagai Ketua Pegawai Eksekutif KPS.
Datin Paduka Juma’ah menganggotai Lembaga KDEB pada
15 Ogos 1997 dan ketika ini menyandang jawatan Timbalan
Presiden KDEB.
Puan Rosni binti Rahmat
, SMS, ASA, PJK, berusia 52
telah dilantik sebagai Pengurus Besar Sumber Manusia/
Pentadbiran Kumpulan Perangsang Selangor Berhad (“KPS”)
pada tahun 1999. Puan Rosni berkelulusan Sarjana Muda
Ekonomi (Kepujian) dari Universiti Malaya.
Puan Rosni memulakan kerjaya beliau sebagai Pegawai
Eksekutif di PKNS. Beliau mula berkhidmat dengan KPS
pada tahun 1975 sebagai Pegawai Perjawatan dan seterusnya
telah menjawat jawatan Pengurus Sumber Manusia sehingga
tahun 1994 sebelum dilantik sebagai Pengurus Sumber
Manusia Kumpulan. Dalam tahun 1999, Puan Rosni telah
dilantik sebagai Pengurus Hal Ehwal Awam Kumpulan
di samping memegang jawatan Pengurus Sumber Manusia
Kumpulan. Dalam tahun yang sama, Puan Rosni dilantik
menerajui Bahagian Sumber Manusia/Pentadbiran KPS
sebagai Pengurus Besar sehingga kini. Puan Rosni juga
memegang jawatan Naib Presiden Sumber Manusia/
Pentadbiran di Kumpulan Darul Ehsan Berhad (“KDEB”)
Encik Arthur Wong Yien Kim , ASA, PPT, berusia 50
tahun, telah dilantik sebagai Pengurus Besar Kewangan
Kumpulan Perangsang Selangor Berhad (“KPS”) pada tahun
2000. Encik Arthur Wong telah berkhidmat dengan KPS
semenjak tahun 1983 dan telah menerajui Bahagian Kewangan
di beberapa anak syarikat sebagai Ketua Akauntan iaitu
Perangsang International Sdn. Bhd., Perangsang Delima
Sdn. Bhd., Perangsang Sports Industries Sdn. Bhd. dan SAP
Holdings Berhad (SAP).Encik Arthur Wong telah berkhidmat
selama tujuh (7) tahun dengan SAP sebagai Ketua Bahagian
Kewangan sebelum dipindahkan perkhidmatannya ke KPS.
Encik Arthur Wong juga turut menyandang jawatan Naib
Presiden Kewangan Kumpulan Darul Ehsan Berhad (“KDEB”).
Encik Arthur Wong merupakan ahli Institut Akauntan
Malaysia dan Institute of Chartered Accountants, England
dan Wales.
, DSSA,
ASA, PJK, aged 52, was appointed to the Board of
Kumpulan Perangsang Selangor Berhad (“KPS”) as Director
on 15 August 1997.Datin Paduka Juma’ah graduated with
a Bachelor of Law from University of London, United
Kingdom in 1981 and obtained her Master in Business
Administration in 1989. In 1992, she attended the
‘Applied International Management Programme’ at the
Institute of Foretagledning,Sigtuna in Sweden.
Datin Paduka Juma’ah began her career in 1975 as Credit
Officer KPS and held the position of Company Secretary
and Group Legal Adviser to the KPS Group from 1981
to 1996. In June 1996, Datin Paduka Juma’ah held the
position of Vice President Kumpulan Darul Ehsan Berhad
(“KDEB”) and Executive Director of Brisdale Holdings
Berhad. She was appointed Chief Executive Officer of
KPS in July 1997.Datin Paduka Juma’ah was appointed to
the Board of KDEB as Director on 15 August 1997 and
currently holds the position of Deputy President KDEB.
Puan Rosni binti Rahmat
, SMS, ASA, PJK, aged 52,
is the General Manager of Human Resource/Administration
at Kumpulan Perangsang Selangor Berhad (“KPS”),a position
held since 1999.Puan Rosni graduated with a Bachelor of
Economics (Hons.) from the University of Malaya.
Puan Rosni began her career as Executive Officer PKNS.
In 1975,she joined KPS as Personnel Officer. She was the
Manager of Human Resource till 1994 and thereafter, was
appointed Group Human Resource Manager. In 1999,she
was appointed Group Human Resource Manager/Public
Affairs Manager. In the same year, Puan Rosni was appointed
General Manager Human Resource/Administration, a position
she holds to-date. She is also the Vice President of
Human Resource/Administration at Kumpulan Darul
Ehsan Berhad (“KDEB”).
Encik Arthur Wong Yien Kim , ASA, PPT, aged 50, is
the General Manager Finance at Kumpulan Perangsang
Selangor Berhad (“KPS”), a position held since 2000.
Encik Arthur Wong joined KPS in 1983 as an Accountant
and was the Chief Accountant for several of KPS’s
subsidiaries, namely Perangsang International Sdn. Bhd.,
Perangsang Delima Sdn.Bhd., Perangsang Sport Industries
Sdn.Bhd.and SAP Holdings Berhad (SAP).He served SAP
for se ven (7) years as Head of Division Finance, before
being assigned to KPS.Encik Arthur Wong is also the Vice
President Finance at Kumpulan Darul Ehsan Berhad
(“KDEB”),a position held since 2000.
Encik Arthur Wong is a member of the Malaysian Institute
of Accountants and the Institute of Chartered Accountants,
England and Wales.
Encik Mohd Noor bin Ismail
, PPT, berusia 54 tahun,
telah dilantik sebagai Pengurus Besar Perancang Korporat
Kumpulan Perangsang Selangor Berhad (“KPS”) pada tahun
1999. Berkelulusan Diploma Perakaunan dan Ijazah
Pentadbiran Perniagaan (Kewangan Korporat) dari Western
Michigan University, USA, beliau juga memperolehi Ijazah
Sarjana Pentadbiran dari Morehead State University, USA.
Encik Mohd Noor mula berkhidmat dengan KPS pada tahun
1991. Sebelum itu, Encik Mohd Noor telah berkhidmat
dengan FELCRA Berhad sebagai Pemeriksa Akaun dari
tahun 1974 hingga 1979. Beliau juga telah berkhidmat
dengan Kwong Yik Bank Berhad sebagai Akauntan bermula
dari 1983 hingga 1984 dan berikutnya bertugas di Arab
Malaysian Finance Berhad sebagai Penolong Pengurus
sehingga tahun 1990.Encik Mohd Noor memegang jawatan
Pengurus Perancang Korporat di KPS dari tahun 1991
hingga tahun 1998 sebelum dilantik sebagai Pengurus Besar.
Beliau juga menyandang jawatan Naib Presiden Perancang
Korporat di Kumpulan Darul Ehsan Berhad (“KDEB”).
Encik Revi Pillai , ASA,berusia 54 tahun, mula berkhidmat
di Kumpulan Perangsang Selangor Berhad (“KPS”) pada tahun
1984 sebagai Akauntan Pengurusan dan dilantik sebagai
Pengurus Besar Pengurusan Audit pada tahun 1997.
Berkelulusan Ijazah Sarjana Muda Sains dari Universiti Sains
Malaysia dan Association of Chartered Management
Accountants (ACMA) United Kingdom, Encik Revi telah
berkhidmat di beberapa buah organisasi terkemuka
di Malaysia sebelum menganggotai KPS.
Encik Revi merupakan ahli ‘The Chartered Institute of
Management Accountants’.
Encik Latip bin Sadali
, berusia 50 tahun,telah dilantik
sebagai Pengurus Besar Komunikasi Korporat Awam
di Kumpulan Perangsang Selangor Berhad (“KPS”) pada
bulan Mac 2002. Sebelum memegang jawatan ini, Encik
Latip telah berkhidmat di beberapa buah anak syarikat
Kumpulan Darul Ehsan Berhad (“KDEB”) dan KPS.
Mendapat pendidikan dari University of Southampton,
United Kingdom, Encik Latip berkelulusan Ijazah Sarjana
Muda (Kepujian) dalam bidang Kejuruteraan Awam.
Puan Hashimah binti Mohd Isa
, PPT, berusia 43 tahun,
telah dilantik sebagai Setiausaha Syarikat di Kumpulan
Perangsang Selangor Berhad (“KPS”) pada tahun 1996.Puan
Hashimah mendapat pendidikan dari Indiana State University
dan berkelulusan Sarjana Pentadbiran Perniagaan.
Puan Hashimah telah berkhidmat di KPS sejak tahun 1990.
Encik Mohd Noor bin Ismail
, PPT, aged 54, is the
General Manager Corporate Planning at Kumpulan
Perangsang Selangor Berhad (“KPS”),a position held since
1999. He holds a Diploma in Accountancy, a Bachelor
Degree in Business Administration (Corporate Finance)
from Western Michigan University, USA and Master in
Administration from Morehead State University, USA.
Encik Mohd Noor joined KPS in 1991.Prior to that,Encik
Mohd Noor worked as an Examiner of Account with
FELCRA Berhad from 1974 to 1979, Accountant at
Kwong Yik Bank Berhad from 1983 to 1984 and
subsequently, as Assistant Manager at Arab-Malaysian
Finance Berhad till 1990. Encik Mohd Noor was the
Manager Corporate Planning at KPS from 1991 to 1998
before being appointed General Manager. He also holds
the position of Vice President Corporate Planning at
Kumpulan Darul Ehsan Berhad (“KDEB”).
Encik Revi Pillai , ASA, aged 54, joined Kumpulan
Perangsang Selangor Berhad (“KPS”) in 1984 as
Management Accountant and was appointed as the
General Manager Management Audit in 1997.
A graduate in Bachelor of Science from Universiti Sains
Malaysia and the Association of Chartered Management
Accountants (ACMA) United Kingdom, Encik Revi had
previously worked with several leading organisations in
Malaysia.
Encik Revi is a member of the Chartered Institute of
Management Accountants.
Encik Latip bin Sadali , aged 50,was appointed General
Manager, Corporate Public Communications of Kumpulan
Perangsang Selangor Berhad (“KPS”) in March 2002,prior
to which he was attached to several subsidiary Companies
of Kumpulan Darul Ehsan Berhad (“KDEB”) and KPS.
Encik Latip holds a Bachelor of Science (Hons.) in Civil
Engineering from University of Southampton, United
Kingdom.
Puan Hashimah binti Mohd Isa
, PPT, aged 43, was
appointed Company Secretary of Kumpulan Perangsang
Selangor Berhad (“KPS”) in 1996.A graduate of Indiana
State University, Puan Hashimah holds a Master in Business
Administration.
She has been with the KPS Group since 1990.
37
TADBIR URUS KORPORAT
PENYATA
TADBIR URUS KORPORAT
STATEMENT OF
Lembaga Pengarah (“Lembaga”) Kumpulan Perangsang
Selangor Berhad (“Syarikat”) mengiktiraf bahawa langkah
tadbir urus korporat yang memuaskan semasa mengendalikan
urusan perniagaan dan hal ehwal Syarikat dengan tahap
kewibawaan, ketelusan dan profesionalisme merupakan
komponen penting bagi memastikan Syarikat mencapai
kemajuan dan kejayaan berterusan. Ia bukan sahaja akan
melindungi dan mempertingkatkan pelaburan dan nilai
pemegang saham, malah pada masa yang sama akan
memastikan supaya kepentingan para pemegang saham
lain turut dilindungi.
Justeru itu, Lembaga adalah komited untuk menyokong
syor-syor yang terkandung dalam Kod Tadbir Urus
Korporat Malaysia (“Kod”) dan kini, langkah-langkah
sedang diambil untuk menyediakan Kumpulan supaya
menerima pakai, melaksanakan dan memenuhi Prinsipprinsip Amalan Terbaik Kod ini.
A.
LEMBAGA PENGARAH
The Board of Directors (“the Board”) of Kumpulan
Perangsang Selangor Berhad (“the Company”) recognises
the exercise of good corporate governance in conducting
the business and affairs of the Company with integrity,
transparency and professionalism as a key component for
the Company’s continued progress and success. These
will not only safeguard and enhance shareholders’ investments
and value but will at the same time ensure that the
interests of other shareholders are protected.
The Board is, therefore, committed to supporting the
recommendations of the Malaysia Code on Corporate
Governance (“the Code”) and steps are currently being
undertaken to prepare the Group to adopt, implement
and fulfil the principles and Best Policies of the Code.
1. Tanggungjawab Lembaga Pengarah
A. THE BOARD OF DIRECTORS
Lembaga Syarikat bertanggungjawab sepenuhnya ke atas
prestasi Kumpulan. Lembaga memberi panduan kepada
Syarikat berhubung dengan matlamat jangka pendek dan
jangka panjangnya, menyediakan khidmat nasihat dan
merangka strategi ke atas isu-isu pengurusan dan
pembangunan perniagaan di samping menyediakan
keseimbangan kepada pengurusan Syarikat.
1. Duties of Board of Directors
The Board of the Company takes full responsibility for
the performance of the Group. The Board guides the
Company on its short and long term goals, providing
advice and devising strategies on management and
business development issues while providing balance
to the management of the Company.
Bidang tugas paling penting Lembaga termasuk:
•
•
•
•
•
•
•
The Board’s most important functions include:
menetapkan objektif, matlamat dan haluan korporat
bagi Syarikat;
•
setting the objectives, goals and corporate direction
for the Company;
mengamalkan dan mengawal perkembangan rancangan
strategik Syarikat;
•
menyelia perjalanan perniagaan Syarikat untuk menilai
sama ada perniagaan telah diuruskan dengan teratur;
adopting and monitoring progress of the Company’s
strategic plan;
•
mengenalpasti risiko-risiko utama dan memastikan
pelaksanaan sistem sewajarnya untuk menguruskan
risiko-risiko ini;
overseeing the conduct of the Company’s business to
evaluate whether the business is being properly
managed;
•
identifying principal risks and ensuring the implementation
of appropriate systems to manage these risks;
•
succession planning including appointing, training,
fixing the compensation of and where appropriate,
reviewing senior management composition;
•
developing and implementing an investor relations
programme or shareholder communications policy
for the Company;
•
reviewing the adequacy and the integrity of the
Company’s internal control systems and management
information systems,including systems for compliance
with applicable laws, regulations,rules,directives and
guidelines.
perancangan penggantian termasuk melantik,melatih,
menetapkan pampasan bila dan di mana sesuai,
menyemak komposisi pengurusan kanan;
membangun dan melaksanakan program berkaitan
perhubungan pelabur atau pemegang saham Syarikat;
menyemak kecukupan dan kebolehpercayaan sistem
kawalan dalaman Syarikat dan pengurusan sistem
maklumat, termasuk sistem bagi pematuhan dengan
undang-undang, peraturan, arahan dan garis panduan
terpakai.
Dalam melaksanakan kewajipan fudisiarinya, Lembaga
telah mengamanahkan tugas-tugas khusus kepada empat
(4) Jawatankuasa Lembaga yang merupakan Jawatankuasa
Audit, Jawatankuasa Imbuhan, Jawatankuasa Perlantikan
dan Jawatankuasa ESOS. Laporan Jawatankuasa masingmasing adalah sebagaimana dikemukakan pada muka surat
46 hingga 54.
2. Komposisi Lembaga
Lembaga KPS pada masa ini mempunyai sembilan (9) ahli
terdiri daripada:
i.
ii.
iii.
iv.
Pengerusi Eksekutif
Pengarah Urusan
Tiga Pengarah Bukan Eksekutif Bukan Bebas
Empat Pengarah Bukan Eksekutif Bebas
Pengarah-pengarah adalah profesional dalam bidang
kejuruteraan, ekonomi, kewangan, perakaunan dan
pentadbir-pentadbir awam kanan yang berpengalaman.
Maklumat mengenai kesemua pengarah dikemukakan
pada muka surat 30 hingga 34.
Komposisi Lembaga ditentukan dengan menggunakan
prinsip-prinsip berikut:
i.
sekurang-kurangnya dua orang atau satu pertiga
daripada Lembaga yang mana lebih tinggi, hendaklah
pengarah bukan eksekutif bebas;dan
ii. sekurang-kurangnya seorang pengarah adalah ahli
Institut Akauntan Malaysia.
Komposisi Lembaga akan dikaji atas dasar setahun oleh
Jawatankuasa Perlantikan untuk memastikan bahawa
Lembaga mempunyai campuran kemahiran, pengalaman,
sifat dan kekompetenan teras untuk melaksanakan tugasnya
secara berkesan.
Terdapat pembahagian tanggungjawab yang jelas di antara
Pengerusi Eksekutif dan Pengarah Urusan untuk memastikan
agar terdapat keseimbangan di antara kuasa dan autoriti.
Kehadiran Pengarah Bukan Eksekutif Bebas yang bebas
daripada pengurusan, memenuhi peranan utama dalam
kebertanggungjawaban korporat memandangkan mereka
adalah bebas daripada mana-mana perhubungan perniagaan
dan lain-lain perhubungan yang boleh mengganggu
pelaksanaan pertimbangan bebas atau keupayaan mereka
untuk bertindak demi kepentingan terbaik Syarikat.
In discharging its fiduciary duties,the Board has delegated
specific tasks to four (4) Board Committees, which ar e
the Audit Committee, Remuneration Committee, Nomination
Committee and ESOS Committee.The respective committee
reports are disclosed on pages 46 to 54.
2. Composition of the Boar d
The Board of KPS consists of nine (9) members:
i.
ii.
iii.
iv.
Executive Chairman
Managing Director
Three Non-Independent Non-Executive Directors
Four Independent Non-Executive Directors
The Directors include professionals in the fields of
engineering, economics, finance and accounting; and
senior civil administrators. The information of all the
directors is set out from pages 30 to 34.
The composition of the Board is determined using the
following principles:
i.
at least two persons or one third of the Board,
whichever is higher, must be independent non-executive
directors;and
ii
at least one director is a member of the Malaysian
Institute of Accountants.
The composition of the Board shall be reviewed on an
annual basis by the Nomination Committee to ensure
that the Board has the required mix of skills, expertise,
attributes and core competencies to discharge its duties
effectively.
There is a clear division of responsibility between the
Executive Chairman and the Managing Director to
ensure that there is a balance of power and authority.
The presence of Independent Non-Executive Directors
who are independent of the management,fulfill a pivotal
role in corporate accountability as they are free from any
business and other relationships that could interfere with
their exercise of independent judgement or the ability to
act in the best interests of the Company.
3. Mesyuarat Lembaga dan Bekalan Maklumat
3. Board Meetings and Supply of Information
Lembaga mempunyai empat (4) mesyuarat terjadual tetap
setiap tahun, dengan mesyuarat tambahan diadakan
apabila perlu.Dalam tahun kewangan berakhir 31 Disember
2003, Mesyuarat Lembaga telah diadakan dan kehadiran
pengarah masing-masing adalah seperti berikut:
The Board has four (4) regularly scheduled meetings
annually with additional meetings convened when necessary.
During the financial year ended 31 December 2003,
four (4) Board Meetings were held and the respective
directors attendance are as follows:
41
Pengarah/ Directors
Dato’ Haji Zabir bin Bajuri
Dato' Haji Azlan bin Hashim
Dato’ Haji Ab. Halim bin Mohyiddin
Datin Paduka Juma’ah binti Moktar
Dato’ Haji Sumadi bin Haji Ismail
Senator Dato’ Ikhwan Salim bin Dato’ Sujak
Dato’ Dr. Haji Karim bin Haji Mansor
(Dilantik:15 April 2003/Appointed:15 April 2003)
Dato’ Ahmad Bhari bin Abd.Rahman
Dato’ Yip Kam Chong
Senator Dato’ Ghazi @ Hasbullah bin Haji Ramli
(Meletak Jawatan:15 April 2003/Resigned:15 April 2003)
Dato’ Mohd Nor bin Bador
(Meletak Jawatan:15 April 2003/Resigned:15 April 2003)
Dato’ Mohd Karim bin Abdullah Omar
(Meletak Jawatan:12 Jun 2003/Resigned:12 June 2003)
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Kehadiran Pengarah
Attendance of Directors
07.03.03
12.06.03
28.08.03
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20.11.03
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hadir/present
tidak hadir atas alasan/absent with apologies
tidak berkenaan/not applicable
Lembaga disediakan dengan agenda-agenda dan kertaskertas Lembaga sebelum mesyuarat Lembaga. Kertas-kertas
Lembaga termasuk minit mesyuarat terdahulu, laporan
prestasi suku tahunan Kumpulan, cadangan korporat
dan strategik bagi semakan dan kelulusan Lembaga.
Dokumen-dokumen ini dikeluarkan terlebih dahulu
dalam masa yang mencukupi untuk membolehkan
Lembaga mendapat penjelasan daripada pengurusan lebih
awal daripada mesyuarat Lembaga untuk membolehkan
pelaksanaan tugas-tugasnya berkesan.
Ahli-ahli Lembaga mempunyai akses kepada nasihat dan
khidmat Setiausaha Syarikat dan ahli-ahli profesional bagi
semua maklumat berhubung dengan Kumpulan sama ada
dalam keupayaan Lembaga penuh atau secara individu
untuk membantu mereka dalam menjalankan tugas-tugas
mereka.
The Board is provided with agendas and Board papers
prior to board meetings.The Board papers include minutes
of the previous meeting,quarterly performance report of
the Group, corporate and strategic proposals for the
Board’s review and approval.These documents are issued
in advance to enable the Board to seek clarifications from
the management before the board meetings to enable
effective discharge of its duties.
The Board members have access to the advice and
services of the Company Secretary and other professionals
on all information in relation to the Group whether as a
full Board or in their individual capacity to assist them in
the furtherance of their duties.
4. Latihan Para Pengarah
Kumpulan menyedari fakta bahawa pendidikan berterusan
adalah penting bagi ahli-ahli Lembaga untuk mengetahui
dengan lebih mendalam mengenai keadaan ekonomi,
perkembangan teknologi, perkembangan berperaturan
terkini dan strategi pengurusan. Di sebalik menghadiri
seminar dan persidangan, kesemua ahli Lembaga telah
menghadiri Program Akreditasi Mandatori Pengarah.Ahli
Lembaga digalakkan untuk menghadiri program dan
seminar pendidikan yang berterusan untuk sentiasa peka
dengan perkembangan terkini tentang keadaan pasaran.
5. Pemilihan Semula Pengarah
Selaras dengan Tataurusan Pertubuhan Syarikat, semua
Pengarah yang dilantik oleh Lembaga adalah tertakluk
kepada pemilihan oleh pemegang-pemegang saham pada
peluang pertama selepas perlantikan mereka. Tataurusan
juga memperuntukkan bahawa sekurang-kurangnya satu
pertiga daripada pengarah selebihnya adalah tertakluk
kepada pemilihan semula mengikut pusingan pada setiap
Mesyuarat Agung Tahunan dengan syarat kesemua
Pengarah termasuk Pengarah Urusan hendaklah bersara
dari pejabat sekurang-kurangnya satu kali setiap tiga
tahun tetapi adalah layak untuk pemilihan semula.
Lembaga memberi kuasa kepada Jawatankuasa Perlantikan
untuk menimbangkan dan membuat pengesyoran mereka
kepada Lembaga bagi penerusan dalam perkhidmatan
para Pengarah yang telah sampai masa untuk bersara.
Pada Mesyuarat Agung Tahunan akan datang, Pengarahpengarah berikut yang akan bersara menurut Artikel 84
Tataurusan Syarikat, dan oleh kerana layak, telah
menawarkan diri mereka untuk perlantikan semula:
i. YBhg Dato’ Haji Ab. Halim bin Mohyiddin
ii. YBhg Dato’ Haji Sumadi bin Haji Ismail
4. Directors’ Training
The Group acknowledges the fact that continuous education
and training are vital for the Board members to gain
insight into the state of economy, technological advances,
latest regulatory developments and management strategies.
All members of the Board have attended the Directors
Mandatory Accreditation Programme.The Board members
are also provided with continuous education programmes
to keep abreast with developments in the market place .
5. Re-election of Directors
In accordance with the Company’s Articles of
Association,all directors who are appointed by the Board
are subject to election by shareholders at the first
opportunity after their appointment. The Articles also
provide that at least one third of the remaining directors
be subject to re-election by rotation at each Annual
General Meeting provided always that all Directors
including the Managing Director shall retire from office at
least once every three years but shall be eligible for
re-election.
The Board has empowered the Nomination Committee
to consider and make their recommendation to the
Board for the continuation in service of those Directors
who are due for retirement.
At the forthcoming Annual General Meeting,the following
Directors who retire in accordance with Article 84 of the
Company's Articles of Association,and being eligible, have
offered themselves for re-election:
i. YBhg Dato' Haji Ab. Halim bin Mohyiddin
B. PERHUB UNGAN DENGAN PEMEGANGPEMEGANG SAHAM
Syarikat menyedari kepentingan ketelusan dan
kebertanggungjawaban dalam pendedahan kegiatan
perniagaan Kumpulan kepada pemegang-pemegang saham
dan pelabur-pelaburnya. Lembaga telah mengekalkan
polisi komunikasi yang berkesan yang membolehkan
kedua-dua Lembaga dan Pengurusan untuk berkomunikasi
secara berkesan dengan pemegang-pemegang saham,
pelabur-pelabur malah orang awam juga.
Disamping itu, Kumpulan turut mewujudkan sebuah
laman web yang beralamat di http://www.kps.com.my
di mana para pelabur boleh mengakses dan mendapatkan
penjelasan mengenai berbagai perkara yang berkaitan
dengan Kumpulan.Sebarang pertanyaan yang dikemukakan
akan diberi jawapan dengan secepat mungkin dan tepat.
B. RELATIONSHIP WITH SHAREHOLDERS
The Company recognises the importance of transparency
and accountability in disclosures of the Group’s business
activities to its shareholders and investors.The Board has
maintained an effective communications policy that enables
both the Board and Management to communicate
effectively with its shareholders, investors and even the
public.
In addition, the Group has established a website at
http://www.kps.com.my which shareholders can access
for information and seek clarification on the Group’s
matters. Any queries raised will be responded to in a
timely and accurate manner.
43
C. KEBER TANGGUNGJA WABAN DAN AUDIT
1. Pengurusan Kawalan Dalaman Dan Risiko
Lembaga mengesahkan tanggungjawabnya bagi menubuhkan
sistem kawalan dalaman yang baik untuk mengawal
pelaburan pemegang-pemegang saham dan aset-aset
Kumpulan, dan untuk memastikan kesahihan penyediaan
penyata kewangan. Selain itu, keutamaan sama rata
diberikan kepada kawalan dalaman daripada pengurusan
perniagaan dan teknik operasi.
Walaupun sistem kawalan dalaman dirangka untuk
memenuhi keperluan khusus Kumpulan dan juga pengurusan
risiko, kawalan sedemikian mengikut sifatnya hanya boleh
memberikan kepastian yang berpatutan dan bukan mutlak
terhadap salah nyata ketara atau kerugian.Penyata kawalan
dalaman dikemukakan pada muka surat 55 hingga 57.
Pengwujudan Polisi Pengurusan Risiko adalah untuk
mengenalpasti, menilai dan menguruskan profil risiko
korporat Kumpulan dan membangunkan rancangan
kontingensi untuk mengurangkan apa-apa kesan kurang
baik ke atas Kumpulan.
2. Pelaporan Kewangan
Dalam membentangkan penyata-penyata kewangan tahunan
dan pengumuman keputusan-keputusan suku tahunan,
Lembaga Pengarah telah memastikan bahawa penyatapenyata kewangan mewakili penilaian sebenar dan adil
akan kedudukan kewangan Syarikat dan Kumpulan.
3. Perhubungan Dengan Juruaudit
Juruaudit dalaman dan juruaudit luaran telah dijemput
untuk menghadiri kesemua mesyuarat Jawatankuasa
Audit. Syarikat mengekalkan perhubungan yang telus
dengan juruaudit dalam mendapatkan nasihat profesional
mereka dan ke arah memastikan pematuhan dengan
piawaian-piawaian perakaunan.
D. MAKLUMAT PEMATUHAN
TAMBAHAN
1. Beli Balik Saham
Tidak ada skim belian balik saham berlaku dalam tahun
kewangan 2003.
C. A CCOUNTABILITY AND
A UDIT
1. Internal Control and Risk Management
The Board acknowledges its responsibility for establishing
a sound system of internal control to safeguard shareholders’
investments and Group’s assets,and to provide assurance
on the reliability of the financial statements. In addition,
equal priority is given to internal control of its business
management and operational techniques.
While the internal control system is devised to cater
for particular needs of the Group as well as risk
management, such controls by their nature can only
provide reasonable assurance but not absolute assurance
against material mis-statement or loss.A financial statement
of internal control is set out on pages 55 to 57.
Establishment of the Risk Management Policy is to identify,
evaluate and manage the Group’s corporate risk profile
and develop contingency plans to mitigate any possible
adverse effects on the Group.
2. Financial Reporting
In presenting the annual financial statements and quarterly
announcements of its results, the Board of Directors has
ensured that the financial statements represent a true
and fair assessment of the Company’s and Group’s financial
position.
3. Relationship with Auditors
The internal auditor and the external auditor were invited
to attend all the Audit Committee meetings.The Company
maintains a transparent relationship with the auditors in
seeking their professional advice and towards ensuring
compliance with the accounting standards.
D. ADDITIONAL COMPLIANCE INFORMATION
1. Share Buy Back
No share buy back scheme was in place during the
financial year 2003.
2.Tawaran Opsyen Dalam Tahun Kewangan 2003
Skim Opsyen Saham Kakitangan KPS telah berkuatkuasa
pada 30 Julai 2003.Tiada sebarang opsyen dilaksanakan
dalam tahun kewangan 2003. Bilangan opsyen yang
ditawarkan semasa tahun kewangan 2003 adalah seperti
berikut:
Tarikh Tawaran
Harga Opsyen (RM)
Ditawar dan Diterima
12.08.2003
1.62
8,198,300
2. Options Offered In The Financial Year 2003
The KPS Employee Share Option Scheme came into
effect on 30 July 2003.There were no options exercised
in the financial year 2003.The number of options offered
during the financial year 2003 is as follows:
3. Sanksi Dan/Atau Penalti Dikenakan Ke Atas Syarikat &
Anak-Anak Syarikat, Para Pengarah Atau Pengurusannya
Oleh Badan Peraturan Berkaitan
Date of Offer
Option Price (RM)
Offered and Accepted
12.08.2003
1.62
8,198,300
Tidak ada sanksi atau penalti material yang dikenakan
ke atas Syarikat dan anak-anak syarikatnya,para pengarah
atau pengurusan oleh badan-badan berperaturan
berkaitan dalam tahun kewangan 2003.
3. Sanctions And/Or Penalties Imposed On The Company
And Its Subsidiaries, Directors Or Management By The
Relevant Regulatory Bodies
4.Yuran Bukan Audit
Jumlah yuran bukan audit dibayar kepada juruaudit
luaran oleh Syarikat dan anak-anak syarikatnya bagi
tahun kewangan 2003 ialah RM19,000.
5. Perbezaan Dalam Keputusan
Tidak ada perbezaan sebanyak 10% atau lebih di antara
keputusan bagi tahun kewangan 2003 dan keputusan
belum diaudit yang diumumkan sebelum ini.
6. Jaminan Keuntungan
Dalam tahun kewangan 2003,tidak ada jaminan keuntungan
diberikan oleh Syarikat.
7. Kontrak Material
Dalam tahun kewangan di bawah kajian,tidak ada kontrak
material yang ditandatangani di antara Syarikat dan/atau
anak-anak syarikatnya yang melibatkan kepentingan para
Pengarah dan pemegang-pemegang saham utama, sama
ada masih lagi wujud pada akhir tahun kewangan 2003
atau yang telah ditandatangani sejak akhir tahun kewangan
terdahulu.
There were no material sanctions or penalties imposed
on the Company and its subsidiaries, directors or
management by the relevant regulatory bodies during the
financial year 2003.
4. Non-Audit Fee
The amount of non-audit fees paid to external auditors
by the Company and its subsidiaries for the financial year
2003 is RM19,000.
5.Variation in Results
There were no variances of 10% or more between the
results for the financial year 2003 and the unaudited
results previously announced.
6. Profit Guarantees
During the financial year 2003, there were no profit
guarantees given by the Company.
7. Material Contract
During the financial year under review, there were no
material contracts entered into by the Company and/or
its subsidiary companies which involved Directors’ and
major shareholders’ interest,either still subsisting at the
end of the financial year 2003, or which were entered
into since the end of the previous financial year.
45
E. JAWAT ANKUASA-JA WAT ANKUASA LEMBAGA
1. JAWATANKUASA AUDIT
E. BOARD COMMITTEES
i. Pendahuluan
Jawatankuasa Audit Kumpulan Perangsang Selangor
Berhad (“KPS”) telah ditubuhkan pada 2 Jun 1998 untuk
menilai pengurusan kewangan Syarikat, sistem kawalan
dalaman dan perancangan, pelaksanaan pengauditan yang
baru dibangunkan dan mengemukakan cadangan-cadangan
yang bersesuaian.
ii. Objektif
Objektif utama Jawatankuasa Audit adalah untuk membantu
Lembaga Pengarah dalam melaksanakan tugas dan
tanggungjawab yang berkaitan dengan perakaunan dan
amalan laporan oleh syarikat induk dan anak-anak
syarikatnya.
Jawatankuasa Audit hendaklah membantu Lembaga
Pengarah dalam menunaikan tugas-tugas seperti:
a. Memastikan pelaksanaan yang baik dalam Rangka
Kerja Pengurusan Risiko untuk mengurus risikorisiko utama;dan
b. Menyemak kecukupan dan integriti sistem kawalan
dalaman Syarikat, sistem pengurusan maklumat
termasuk sistem-sistem pematuhan kepada manamana undang-undang, peraturan, arahan dan garis
panduan.
iii. Komposisi
Ahli Jawatankuasa terdiri daripada tiga (3) Pengarah Bukan
Eksekutif Bebas, seorang (1) Pengarah Bukan Eksekutif
Bukan Bebas dan seorang (1) Pengarah Eksekutif.
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YBhg Dato Haji Ab. Halim bin Mohyiddin
(Pengerusi - Pengarah Bukan Eksekutif Bebas)
(Pengarah Urusan)
YB Senator Dato’ Ikhwan Salim bin Dato’ Sujak
(Pengarah Bukan Eksekutif Bebas)
YBhg Dato’ Haji Sumadi bin Haji Ismail
(Pengarah Bukan Eksekutif Bebas)
YBhg Dato’ Yip Kam Chong
(Pengarah Bukan Eksekutif Bukan Bebas)
Senator Dato’ Ghazi@Hasbullah bin Haji Ramli telah
meletakkan jawatan sebagai ahli jawatankuasa pada tahun
kewangan 2003. Dato’ Ikhwan Salim bin Dato’ Sujak,
Dato’ Haji Sumadi bin Haji Ismail dan Dato’ Yip Kam
Chong telah dilantik sebagai ahli-ahli jawatankuasa dalam
tahun kewangan 2003.
1. AUDIT COMMITTEE
i. Introduction
The Audit Committee of Kumpulan Perangsang Selangor
Berhad (“KPS”) was established on 2 June 1998 to
evaluate the Company’s financial management, internal
controls system and planning to propose applicable
decisions.
ii. Objectives
The principal objective of the Committee is to assist the
Board in discharging its statutory duties and responsibilities
relating to accounting and reporting practices of the
holding company and each of its subsidiaries.
The Committee shall assist the Board in discharging its
duties on the following:
a. Ensure that the implementation of a Risk Management
Framework is in place to manage Materials Risks;and
b. Review the adequacy and the integrity of the
Company’s Internal Control Systems, Management
Information Systems,including systems for compliance
with applicable laws, regulations,rules,directives and
guidelines.
iii. Composition
The members of the Committee comprise three (3)
Non-Executive Directors, one (1) Non-Independent
Non-Executive Director and one (1) Executive Director
as follows:
•
•
•
•
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(Chairman - Independent Non-Executive Director)
(Managing Director)
(Independent Non-Executive Director)
(Independent Non-Executive Director)
(Non-Independent Non-Executive Director)
Senator Dato’ Ghazi@Hasbullah bin Haji Ramli resigned
as member of the Committee in the financial year 2003.
Dato’ Ikhwan Salim bin Dato’ Sujak, Dato’ Haji Sumadi
bin Haji Ismail and Dato’ Yip Kam Chong were appointed
as members of the Committee in the financial year 2003.
YBhg Dato’ Haji Ab. Halim bin Mohyiddin adalah ahli
Institut Akauntan Malaysia (“MIA”). Oleh itu, KPS
mematuhi Keperluan Baru Penyenaraian Bursa Malaysia
(sebelum ini dikenali sebagai Bursa Saham Kuala Lumpur)
yang menyarankan Jawatankuasa Audit perlu mempunyai
sekurang-kurangnya seorang (1) ahli MIA.
iv. Bidang-Bidang Tugas
a. Objektif
Tugas utama Jawatankuasa Audit adalah untuk membantu
Lembaga Pengarah dalam memenuhi objektif pengawasan
dalam aktiviti Kumpulan seperti berikut:
•
•
•
Menilai proses Kumpulan berkaitan dengan risiko dan
kawalan persekitaran;
Mengawasi laporan kewangan;dan
Menilai proses audit dalaman dan luaran.
YBhg Dato’ Haji Ab. Halim bin Mohyiddin is a member of
the Malaysian Institute of Accountants (“MIA”).Thus,KPS
complies with the Bursa Malaysia (formerly known as
Kuala Lumpur Stock Exchange) New Listing Requirements
which stipulates that at least one (1) member of the
Audit Committee must be a member of the MIA.
iv.Terms of Reference
a. Objectives
The primary function of the Audit Committee is to assist
the Board of Directors in fulfilling the following oversight
objectives on the Group activities:
b. Komposisi
•
Lembaga Pengarah harus memilih dan melantik ahli
Jawatankuasa dari kalangan mereka yang terdiri tidak
kurang daripada tiga (3) orang Pengarah,di mana majoriti
daripada mereka hendaklah terdiri daripada Pengarah
Bukan Eksekutif Bebas di mana sekurang-kurangnya
seorang (1) ahli mestilah ahli Institut Akauntan Malaysia
atau mempunyai sekurang-kurangnya tiga (3) tahun
pengalaman bekerja dan lulus peperiksaan seperti yang
ditetapkan dalam Bahagian I Jadual 1 Akta Akauntan 1967;
atau merupakan ahli salah sebuah persatuan akauntan
seperti yang ditetapkan dalam Bahagian II Jadual 1 Akta
Akauntan 1967.
•
•
Lembaga Pengarah harus memenuhi kekosongan dalam
tempoh tiga (3) bulan selepas ahli Jawatankuasa meletak
jawatan, meninggal dunia atau atas apa-apa sebab tidak
menjadi ahli yang menyebabkan jumlah ahli kurang daripada
tiga (3) orang.
Pengerusi Jawatankuasa mestilah seorang Pengarah Bukan
Eksekutif Bebas.Tiada Pengarah gantian kepada Lembaga
Pengarah boleh dilantik sebagai ahli Jawatankuasa Audit.
Lembaga Pengarah harus mengkaji tempoh memegang
jawatan setiap ahli sekurang-kurangnya sekali (1) setiap
tiga (3) tahun.
c. Korum dan Prosedur Jawatankuasa
Assess the Group’s processes relating to its risks and
control environment ;
Oversee financial reporting;and
Evaluate the internal and external audit processes.
b. Composition
The Board shall elect and appoint Committee members
from amongst their numbers comprising no fewer than
three (3) Directors, the majority of whom shall be
Independent Non-Executive Directors of the Company
with at least one (1) member must be a member of MIA
or has at least three (3) year’s working experience and
passed the examination specified in Part I of the 1st
Schedule of the Accountants Act 1967;or is a member of
one (1) of the associations of accountants specified in
Part II of the 1st Schedule of the Accountants act 1967.
The Board shall,within three (3) months after a member
of the Committee resigns,dies or for any reason ceases
to be a member with the result that the member is
reduced below three (3),fill the vacancy.
The Chairman of the Committee shall be an Independent
Non-Executive Director. No alternate Directors of the
board shall be appointed as a member of the Committee.
The Board shall review the terms of office of each of its
members at least once (1) every three (3) years.
c. Quorum and Committee’s Procedures
Mesyuarat hendaklah diadakan sekurang-kurangnya
empat (4) kali setahun,atau lebih kerap jika perlu.
Dalam mewujudkan korum mesyuarat, majoriti ahli yang
hadir mestilah Pengarah Bukan Eksekutif Bebas. Semasa
ketiadaan Pengerusi, ahli yang hadir hendaklah melantik
seorang Pengerusi bagi mesyuarat tersebut daripada ahli
yang hadir.
Meetings shall be conducted at least four (4) times annually,
or more frequently as circumstances dictate.
In order to form a quorum for the meeting,the majority
of the members present must be Independent NonExecutive Directors.In the absence of the Chairman,the
members present shall elect a Chairman for meeting
from amongst the members present.
47
Setiausaha Syarikat haruslah dilantik sebagai Setiausaha
Jawatankuasa. Setiausaha, bersama Pengerusi, akan
menyediakan agenda,yang akan diedarkan bersama kertas
sokongan berkaitan,dalam tempoh yang sewajarnya kepada
ahli Jawatankuasa sebelum setiap mesyuarat. Minit
Mesyuarat akan diedarkan kepada ahli Lembaga Pengarah.
Jawatankuasa ini boleh,apabila dianggap perlu,menjemput
ahli-ahli Lembaga Pengarah yang lain dan meminta ahliahli Pengurusan Kanan untuk menghadiri mesyuarat.
Jawatankuasa ini akan bermesyuarat sekurang-kurangnya
sekali setahun dengan juruaudit luaran untuk membincangkan
apa-apa perkara dengan Jawatankuasa tanpa kehadiran
Lembaga Pengarah Eksekutif dan Pengurusan.
Jawatankuasa hendaklah mengatur prosiding mesyuarat
menurut konvensyen biasa mengenai perkara tersebut.
d. Kuasa
Jawatankuasa ini diberi kuasa untuk menyiasat sebarang
perkara dalam bidang tugasnya.
Jawatankuasa ini diberi kuasa untuk mencari sebarang
maklumat yang diperlukan dari kakitangan, yang mana
diperlukan untuk bekerjasama dengan permintaan dari
Jawatankuasa.
Jawatankuasa ini akan mempunyai akses penuh dan tanpa
batasan kepada sebarang maklumat berkaitan Kumpulan.
Jawatankuasa ini akan mempunyai saluran komunikasi
kepada juruaudit dalaman dan juruaudit luaran dan
dengan pengurusan kanan Kumpulan dan boleh mengadakan
mesyuarat dengan juruaudit luaran apabila perlu.
Jawatankuasa ini akan mempunyai akses kepada sebarang
sumber yang diperlukan untuk menjalankan tugasnya.
Jawatankuasa ini boleh mendapatkan sebarang nasihat
perundangan atau nasihat profesional lain yang dianggap
perlu,atas perbelanjaan Syarikat.
Bila Jawatankuasa berpendapat ada sebarang perkara yang
dilaporkan oleh Jawatankuasa kepada Lembaga Pengarah
yang masih belum diselesaikan dengan memuaskan
sehingga menyebabkan ia melanggar Syarat-syarat
Penyenaraian, Jawatankuasa harus melaporkan dengan
segera perkara tersebut kepada pihak berkuasa berkenaan.
The Company Secretary shall be appointed as a Secretary
of the Committee.The Secretary, in conjunction,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 minutes shall be circulated to
members of the Board.
The Committee may, as and when deemed necessary,
invite other Board members and Senior Management
members to attend the meetings.
The Committee shall meet at least once a year with the
external auditors to discuss any matter with the
Committee without the presence of any executive
member of the Board and Management.
The Committee shall regulate the manner of proceedings
of its meetings, having regard to normal conventions on
such matter.
d. Authority
The Committee is authorised to investigate any matter
within its terms of reference .
The Committee is authorised to seek any information it
requires from employees,who are required to cooperate
with any request made by the Committee .
The Committee shall have full and unlimited access to
any information pertaining to the Group .
The Committee shall have communication channel with
the internal and external auditors and with senior
management of the Group and shall be able to convene
meetings with the external auditors whenever deemed
necessary.
The Committee shall have the resources that are
required to perform its duties. The Committee can
obtain, at the expense of the Company, outside legal or
other independent professional advice it considers
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 any regulatory
requirements,the Committee shall promptly report such
matter to the relevant authorities.
e. Tugas dan Tanggungjawab
Dalam memenuhi objektif utamanya, Jawatankuasa ini
akan menjalankan tugas-tugas dan tanggungjawab berikut:
•
•
Mengkaji dengan juruaudit luaran,skop dan rancangan
audit, termasuk sebarang perubahan kepada skop
rancangan audit yang dirancang.
Mengkaji kecukupan skop dan rancangan audit
dalaman,fungsi-fungsi dan sumber audit dalaman dan
mempastikan ianya mempunyai kuasa yang sepatutnya
bagi menjalankan tugas.
e. Duties and Responsibilities
In fulfilling its primary objectives, the Committee shall
undertake the following duties and responsibilities:
•
Review with the external auditor, the audit scope and
plan, including any changes to the planned scope of
the audit plan.
•
Mengkaji laporan audit dalaman dan luaran bagi
mempastikan tindakan segera dan sepatutnya diambil
oleh pihak Pengurusan bagi kekurangan utama
pengawalan atau prosedur yang telah dikenal pasti.
•
Review the adequacy of the internal audit scope and
plan, functions and resources of the internal audit
function and that it has the necessary authority to
carry out its work.
•
Mengkaji penemuan audit utama dan maklumbalas
pihak pengurusan sepanjang tahun dengan
Pengurusan, juruaudit luaran dan juruaudit dalaman,
termasuk status cadangan audit yang terdahulu.
•
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.
•
Mengkaji bantuan yang diberi oleh kakitangan
Kumpulan kepada juruaudit, dan sebarang masalah
yang dihadapi dalam menjalankan kerja audit,termasuk
sebarang sekatan dalam skop aktiviti atau akses kepada
maklumat yang diperlukan.
•
Review the major audit findings and the
Management’s response during the year with
Management,external auditors and internal auditors,
including the status of previous audit recommendations.
•
Mengkaji kebebasan dan objektif juruaudit luaran dan
khidmat mereka, termasuk khidmat bukan audit dan
yuran profesional, untuk mempastikan objektif dan
nilai wang adalah seimbang.
•
Mengkaji perlantikan dan prestasi, yuran audit dan
sebarang persoalan perletakan jawatan atau pemecatan
juruaudit luaran sebelum memberi cadangan kepada
Lembaga Pengarah.
•
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.
•
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.
•
Review the appointment and performance of external
auditors,the audit fee and any question of resignation
or dismissal before making recommendations to the
Board.
•
Review the adequacy and integrity of internal control
system, including enterprise risk management,
management information system, and the internal
auditors’ evaluation of the said systems.
•
Mengkaji kecukupan dan ketelusan sistem kawalan
dalaman, termasuk pengurusan risiko perusahaan,
sistem pengurusan maklumat dan penilaian juruaudit
dalaman berkenaan sistem tersebut.
49
•
Mengarah dan di mana berkaitan,mengawas sebarang
projek khas atau penyiasatan jika perlu, dan mengkaji
laporan siasatan berkenaan sebarang penyalahgunaan,
penipuan dan kecurian yang besar.
•
Mengkaji keputusan suku tahunan dan penyata
kewangan akhir tahun, sebelum kelulusan Lembaga
Pengarah dengan penumpuan kepada:
- perubahan dalam atau pelaksanaan perubahan polisi
perakaunan utama;
- peristiwa ketara atau luar biasa;dan
- pematuhan kepada piawaian perakaunan dan
undang-undang lain;
•
Mengkaji urusniaga pihak berkaitan dan situasi konflik
kepentingan yang mungkin timbul dalam Syarikat atau
Kumpulan, termasuk sebarang urusniaga, prosedur
atau persoalan yang timbul berkenaan ketelusan
kendalian pihak Pengurusan.
•
Memeriksa pembahagian ESOS agar mematuhi kriteria
yang ditetapkan oleh Jawatankuasa ESOS pada setiap
penghujung tahun kewangan.
•
Sebarang aktiviti lain yang diberikuasa oleh Lembaga
Pengarah.
•
Direct and where appropriate monitor any special
projects or investigation considered necessary, and
review investigation report on any major defalcation,
fraud and theft.
•
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 or unusual events;and
- compliance with accounting standards and other
legal requirements.
•
Review any related party transaction and conflict of
interest situation that may arise within the Company
or the Group, including any transaction, procedure
or course of conduct that raises questions on
Management integrity.
•
Verify the allocation of the ESOS as being in compliance
with the criteria set by the ESOS Committee at the
end of each financial year.
•
Any other activities,as authorised by the Board.
v. Mesyuarat
Sepanjang tahun kewangan, Jawatankuasa Audit telah
mengadakan lima (5) mesyuarat. Mesyuarat telah
dilaksanakan dengan sewajarnya melalui penggunaan
agenda di mana ianya diedarkan kepada ahli-ahli dalam
tempoh yang bersesuaian.
Nama Pengarah
YBhg Datin Paduka Jumaah binti Moktar
Kehadiran
5/5
4/5
4/5
1/2
2/2
Pengurus Besar Bahagian Kewangan dan Pengurus Besar
Bahagian Audit Pengurusan telah hadir dengan jemputan
ke mesyuarat tersebut. Wakil juruaudit luaran juga telah
hadir ke mesyuarat tersebut dengan jemputan.
vi. Ringkasan Aktiviti
Aktiviti-aktiviti utama yang telah dijalankan oleh
Jawatankuasa sepanjang tahun ini adalah seperti berikut:
•
Mengkaji skop kerja juruaudit luaran dan rancangan
audit tahun 2003. Sebelum audit, wakil juruaudit
luaran akan membentangkan rancangan dan strategi
audit mereka.
v. Meeting
The Audit Committee convened five (5) meetings during
the financial year. The meetings were appropriately
structured through the use of agenda, which was
distributed to members with sufficient notification.
Name of Directors
Attendance
5/5
4/5
4/5
1/2
2/2
The General Manager of Finance Division and the General
Manager of Management Audit Division were present by
invitation at the meetings.Representatives of the external
auditors also attended the meetings upon invitation.
vi. Summary of Activities
The main activities undertaken by the Committee during
the year were as follows:
•
Reviewed the external auditors’ scope of work and
audit plans for the year 2003. Prior to the audit,
representatives from the external auditors,presented
their audit strategy and plan.
•
Mengkaji dengan juruaudit luaran, keputusan audit,
laporan audit dan Memoranda Kawalan Dalaman,
termasuk maklumbalas dari pihak Pengurusan.
•
Mempertimbangkan dan mencadangkan bayaran
yuran audit kepada juruaudit luaran untuk kelulusan
Lembaga Pengarah.
•
Mengkaji program dan rancangan Jabatan Audit
Dalaman untuk tahun kewangan 2003.
•
Mengkaji laporan audit dalaman, yang menekankan
isu-isu audit, cadangan dan maklumbalas pihak
Pengurusan. Berbincang dengan pihak Pengurusan
mengenai tindakan yang diambil untuk memperbaiki
sistem kawalan dalaman berdasarkan peluang pembaikan
yang dikenalpasti di dalam laporan audit dalaman.
•
Mengkaji laporan tindakan susulan oleh juruaudit
dalaman mengenai status tindakan yang diambil oleh
pihak Pengurusan berkenaan cadangan yang dicadangkan
di dalam penemuan audit.
•
Mengkaji pengkaedahan penarafan audit oleh Jabatan
Audit Dalaman dalam penakrifan dan pengkadaran
peringkat risiko dalam pelbagai sudut yang boleh diaudit
dan mempastikan keutamaan audit diberikan kepada
bahagian yang mempunyai risiko tinggi dan kritikal.
•
•
Mengkaji penyata kewangan Syarikat yang diaudit
sebelum dibentangkan kepada Lembaga Pengarah
untuk pertimbangan dan kelulusan. Kajian adalah
untuk memastikan penyata kewangan yang diaudit
dibuat berdasarkan peruntukan-peruntukan yang
terdapat di dalam Akta Syarikat 1965 dan piawaian
perakaunan berkaitan yang diluluskan oleh Lembaga
Piawaian Perakaunan Malaysia (“MASB”).
Mengkaji pematuhan Syarikat, khususnya, penyata
kewangan suku tahunan dan akhir tahun mematuhi
piawaian perakaunan MASB dan lain-lain keperluan
undang-undang yang berkaitan.
•
Mengkaji keputusan kewangan suku tahunan yang
tidak diaudit sebelum dicadangkan kepada Lembaga
Pengarah untuk kelulusan.
•
Mengkaji urusniaga pihak berkaitan yang dilaksanakan
dalam Kumpulan.
•
Memeriksa pembahagian ESOS KPS mematuhi kriteria
yang ditetapkan oleh Jawatakuasa ESOS.
•
Reviewed with the external auditors, the results of
the audit, the audit report and the Internal Control
Memorandum, including Management’s response
thereto.
•
Considered and recommended to the Board for
approval the audit fees payable to the external auditors.
•
Reviewed the Management Audit Division’s programmes
and plan for the financial year 2003 under review.
•
Reviewed the Management Audit reports, which
highlighted the audit issues, recommendations and
Management response thereto. Discussed with
Management actions taken to improve the system of
internal control based on improvement opportunities
identified in the internal audit reports.
•
Reviewed follow-up reports by the internal auditors
on the status of actions taken by the Management on
recommendations suggested in the audit findings.
•
Reviewed Management Audit Division’s audit rating
methodology in assessing and rating the risk levels of
the various auditable areas and ensured that the audit
emphasis was given on high and critical risk areas.
•
Reviewed the audited financial statement 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 approved by the Malaysian
Accounting Standard Board (“MASB”).
•
Reviewed the Company’s compliance, in particular,
the quarterly and the year-end financial statements
with the MASB and other relevant legal and regulatory
requirements.
•
Reviewed the quarterly unaudited financial results
before recommending them for the Board’s approval.
•
Reviewed the related party transactions entered into
by the Group.
•
Verified the allocation of the KPS ESOS as being in
compliance with the criteria set by the ESOS Committee.
51
vii. Fungsi Dan Aktiviti Juruaudit Dalaman
Jabatan Juruaudit Dalaman adalah bebas dalam
menjalankan operasi dan aktiviti dari operasi unit-unit
yang lain. Tugas utama jabatan adalah untuk menjalankan
kajian bebas dan sistematik terhadap sistem kawalan
dalaman supaya dapat memberi jaminan sewajarnya agar
sistem tersebut terus beroperasi dengan berkesan dan
memuaskan.Audit dalaman mempraktikkan kaedah dasarrisiko di dalam rancangan audit dan pemeriksaannya. Ia
menjadi tanggungjawab Jabatan Audit Dalaman untuk
menyediakan kepada Jawatankuasa Audit laporan kawalan
dalaman yang objektif dan bebas mengenai keadaan
kawalan dalaman bagi semua unit operasi di dalam
Kumpulan dan tahap pematuhan unit-unit terhadap polisipolisi dan prosedur Kumpulan yang telah dibentuk dan
juga peraturan perundangan yang berkaitan.
2. JA WAT ANKUASA SKIM OPSYEN SAHAM
KAKITANGAN (ESOS)
Jawatankuasa ESOS telah ditubuhkan untuk menguruskan
pelaksanaan Skim Opsyen Saham Kakitangan KPS selaras
dengan undang-undang kecil,untuk menentukan kelayakan
penyertaan, tawaran opsyen, peruntukan saham dan
menangani lain-lain perkara sebagaimana mungkin diperlukan.
vii. Management Audit Function and Activities
The Management Audit Division is independent of the
activities or operations of other operating units. The
principal role of the department 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 management audit
practices a risk-based approach in its audit plan and
examination. It is the responsibility of the Management
Audit Division to provide the Audit Committee with
independent and objective reports on the state of internal
controls 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.
2. EMPLO YEE SHARE
(ESOS) COMMITTEE
OPTION
SCHEME
Pengerusi - YBhg Dato’ Yip Kam Chong
Pengarah Bukan Eksekutif Bukan Bebas
The ESOS Committee was established to administer the
implementation of KPS Employee Share Option Scheme
in accordance with the approved bye-laws;to determine
participation eligibility, option offers, share allocations;
and to attend to such other matters as may be required.
Ahli-Ahli
The members of the ESOS Committee are as follows:
Ahli-ahli Jawatankuasa ESOS adalah seperti berikut:
- YBhg Dato’ Haji Zabir bin Bajuri
Pengerusi Eksekutif
- YBhg Datin Paduka Juma’ah binti Moktar
Pengarah Urusan
- Puan Rosni binti Rahmat
Pengurus Besar, Sumber Manusia/Pentadbiran
- Encik Arthur Wong Yien Kim
Pengurus Besar Kewangan
Mesyuarat Jawatankuasa ESOS diadakan apabila perlu.Dalam
tahun berakhir 31 Disember 2003, satu mesyuarat telah
diadakan dan kesemua ahli Jawatankuasa telah hadir.
3. JAWAT ANKUASA PENCALONAN
Chairman - YBhg Dato’ Yip Kam Chong
Non-Independent Non Executive Director
Members - YBhg Dato’ Haji Zabir bin Bajuri
Executive Chairman
Managing Director
- Puan Rosni binti Rahmat
General Manager, Human Resource/Administration
- Encik Arthur Wong Yien Kim
General Manager, Finance
Ahli-Ahli Jawatankuasa Pencalonan adalah seperti berikut:
Meetings of the ESOS Committee are held when necessary.
During the year ended 31 December 2003,one meeting
was held and all the Committee members were present.
Pengerusi - YBhg Dato’ Haji Azlan bin Hashim
Pengarah Bukan Eksekutif Bebas
3. NOMINATION COMMITTEE
Ahli-Ahli - YBhg Dato’ Haji Zabir bin Bajuri
Pengerusi Eksekutif
- YBhg Dato’ Haji Sumadi bin Haji Ismail
The members of the Nomination Committee are as follows:
Chairman - YBhg Dato’ Haji Azlan bin Hashim
Independent Non Executive Director
Members - YBhg Dato’ Haji Zabir bin Bajuri
Executive Chairman
- YBhg Dato’ Haji Sumadi bin Haji Ismail
Jawatankuasa Pencalonan bertanggungjawab membuat
pengesyoran kepada Lembaga mengenai perlantikan baru
Lembaga dan Jawatankuasa Lembaga.Jawatankuasa Perlantikan
menimbangkan kelayakkan, pengalaman, sifat dan
kekompetenan teras calon bagi penilaian dan kelulusan
Lembaga.
Lembaga berhak kepada perkhidmatan Setiausaha Syarikat
yang memastikan bahawa kesemua perlantikan dibuat
sewajarnya, bahawa kesemua maklumat yang perlu
diperolehi daripada pengarah-pengarah, untuk rekod
syarikat dan untuk tujuan memenuhi obligasi berperaturan,
serta juga obligasi yang timbul daripada Syarat-syarat
Penyenaraian Bursa Malaysia (sebelum ini dikenali sebagai
Bursa Saham Kuala Lumpur) dan lain-lain syarat berperaturan.
Dalam tahun 2003,satu (1) mesyuarat telah diadakan dan
dihadiri oleh kesemua ahli.
4. JA WAT ANKUASA IMBUHAN
Syarikat menerima pakai objektif sebagaimana yang
disyorkan oleh Kod Tadbir Urus Korporat untuk menentukan
imbuhan para Pengarah bagi memastikan bahawa Syarikat
menarik dan mengekalkan para Pengarah yang diperlukan
untuk mengendalikan Syarikat dengan jayanya. Bahagian
komponen dibentuk untuk menghubungkan ganjaran
kepada prestasi korporat dan individu bagi Pengarah
Eksekutif.
Pada masa ini Jawatankuasa Imbuhan terdiri daripada ahliahli yang berikut:
Pengerusi - YBhg Dato’ Haji Azlan bin Hashim
Ahli-Ahli
- YBhg Dato’ Haji Ab. Halim bin Mohyiddin
Pengarah Urusan
Dalam tahun 2003,satu mesyuarat telah diadakan dan ia
telah dihadiri oleh kesemua ahli bersama-sama Pengurus
Besar Sumber Manusia.
Jawatankuasa Imbuhan juga akan menyemak dan
mengesyorkan kepada Lembaga bonus tahunan dan
kenaikan gaji Pengarah-Pengarah Eksekutif. PengarahPengarah Eksekutif terkecuali daripada perbincangan dan
pengundian berhubung dengan imbuhan mereka.
The Nomination Committee is responsible for making
recommendations to the Board on new Board and Board
Committee appointments.The Nomination Committee
considers the qualification, experience, attributes and
core competencies of the candidate before recommending
for the Board’s assessment and approval.
The Board is entitled to the services of the Company
Secretary who ensures that all appointments are properly
made, that all necessary information is obtained from
directors, both for the company’s own records and for
the purposes of meeting statutory obligations, as well
as obligations arising from the Bursa Malaysia (formerly
known as Kuala Lumpur Stock Exchange) Listing
Requirements and other regulatory requirements.
During the year, one (1) meeting was held and it was
attended by all members.
4. REMUNERATION COMMITTEE
The Company has adopted the objective as recommended
by the Code on Corporate Governance to determine
the remuneration of the Directors so as to ensure that
the Company attracts and retains the Directors needed
to run the Group successfully. The component parts are
designed to link rewards to corporate and individual
performance in the case of Executive Directors.
Presently the Remuneration Committee comprises the
following members:
Chairman - YBhg Dato’ Haji Azlan bin Hashim
Members - YBhg Dato’ Haji Ab. Halim bin Mohyiddin
Managing Director
During the year, one meeting was held and it was attended
by all members together with the General Manager of
Human Resource/Administration.
The Remuneration Committee will review and recommend
to the Board the annual bonus and salary increment of
the Executive Directors. The Executive Directors will
abstain from the deliberations and voting in respect of
53
Satu ringkasan mengenai imbuhan kepada PengarahPengarah bagi tahun kewangan berakhir 31 Disember
2003 dengan perbezaan di antara Pengarah-Pengarah
Eksekutif dan Pengarah-Pengarah Bukan Eksekutif,dengan
mengkategori ke dalam komponen yang sesuai dinyatakan
seperti di bawah:
Yuran (RM)
Gaji (RM)
Bonus (RM)
Elaun (RM)
Manfaat (RM)
Pengarah
Eksekutif
153,156.00
547,473.00
118,690.00
30,700.00
64,500.00
Pengarah Bukan
Eksekutif
143,178.00
Tiada
Tiada
Tiada
Tiada
Tahap Gaji (RM)
Salary Band (RM)
Kurang dari 50,000.00
Less than 50,000.00
350,001.00 - 400,000.00
500,001.00 - 550,000.00
Jumlah
296,334.00
547,473.00
118,690.00
30,700.00
64,500.00
their remuneration.
A summary of the remuneration of the Directors for the
financial year ended 31 December 2003, distinguishing
between Executive Directors and Non-Executive Directors
in aggregate, with categorization into appropriate components
is set out below:
Executiv e Non-Executiv e
Directors
Directors
Total
Fees (RM)
153,156.00
143,178.00
296,334.00
Salary (RM)
547,473.00
Nil
547,473.00
Bonus (RM)
118,690.00
Nil
118,690.00
Allowance (RM)
30,700.00
Nil
30,700.00
Benefit-in-kind (RM) 64,500.00
Nil
64,500.00
Pengarah Eksekutif
Executive Director
Pengarah Bukan Eksekutif
Non-Executive Director
7
1
1
PENYATA
KAWALAN DALAMAN
STATEMENT ON
INTERNAL CONTROLS
Pendahuluan
Kod Tadbir Urus Korporat Malaysia menghendaki
syarikat-syarikat tersenarai mengekalkan satu sistem
kawalan dalaman yang baik untuk menjaga pelaburan para
pemegang saham dan aset Kumpulan. Perenggan 15.27(b)
Peraturan Penyenaraian Bursa Malaysia (sebelum ini dikenali
sebagai Bursa Saham Kuala Lumpur) menghendaki Lembaga
Pengarah syarikat-syarikat tersenarai menyediakan satu
penyata di dalam laporan tahunan berkenaan kedudukan
kawalan dalaman mereka. Lembaga Pengarah dengan
sukacita menyediakan laporan yang menggariskan jenis
dan skop kawalan dalaman Kumpulan bagi tahun kewangan
yang berakhir pada 31 Disember 2003.
Tanggungjawab Lembaga Pengarah
Lembaga Pengarah mengakui kepentingan sistem kawalan
dalaman yang baik dan pengurusan risiko dalam tadbir urus
korporat.Lembaga Pengarah mengesahkan tanggunggjawab
sepenuhnya ke atas sistem kawalan dalaman Kumpulan
dan mengkaji kecukupan serta ketelusannya. Sistem yang
dimaksudkan tidak hanya merangkumi kawalan kewangan
tetapi juga kawalan berkaitan operasi, pengurusan risiko
dan kepatuhan kepada undang-undang, peraturan serta
garis panduan.
Memandangkan wujudnya batasan yang sedia ada dalam
mana-mana sistem kawalan dalaman,sistem ini telah direka
untuk mengurus risiko-risiko yang akan menghalang
pencapaian objektif-objektif perniagaan Kumpulan dan bukan
untuk mengenepikannya. Oleh itu, sistem ini hanya
menyediakan kepastian yang berpatutan dan bukan mutlak
terhadap salah nyata yang ketara atau kerugian.
Usahasama-usahasama ketara dan syarikat-syarikat
bersekutu tidak terlibat sebagai sebahagian daripada
Kumpulan bagi tujuan penyata kawalan dalaman ini.Walau
bagaimanapun, pihak pengurusannya mempunyai fungsi
pemantauan sedia ada untuk membantu mereka
memastikan sistem kawalan dalaman berfungsi seperti
yang dikehendaki.
Rangka Kerja Pengurusan Risik
o
Lembaga Pengarah telah mewujudkan kebertanggungjawaban
dan delegasi kuasa yang ditakrif dengan jelas. Urusan
pemantauan dan kajian tentang kawalan dalaman adalah
di bawah had kuasa Ahli Jawatankuasa Audit sejak
penubuhannya pada tahun 1998. Dalam tahun 2002,
pelaksanaan rangka kerja pengurusan risiko di dalam
Kumpulan turut dimasukkan dalam bidang kuasa Ahli
Jawatankuasa Audit.
Introduction
The Malaysia Code on Corporate Governance requires
listed companies to maintain a sound system of internal
control to safeguard shareholders' investments and the
Group's assets.Paragraph 15.27(b) of the Bursa Malaysia
(formerly known as Kuala Lumpur Stock Exchange)
Listing Requirements requires the Board of Directors of
listed companies to include a statement in their annual
reports on the state of their internal controls.The Board
of Directors is pleased to provide the following statement,
which outlines the nature and scope of internal control
of the Group during the financial year ended 31
December 2003.
Responsibility of the Board of Directors
The Board of Directors recognises the importance of
sound internal controls and risk management practices
to good corporate governance. The Board affirms its
overall responsibility for the Group's system of internal
controls and for reviewing its adequacy and integrity.
Such system covers not only financial controls but also
controls relating to operational, risk management and
compliance with applicable laws, regulations, rules, and
guidelines.
In view of the inherent limitations in any system of internal
control, this system is designed to manage, rather than
eliminate the risk of failure to achieve Group’s business
objectives. Accordingly, the system can only provide
reasonable and not absolute assurance against material
misstatement or loss.
Material joint ventures and associated companies have
not been dealt with as part of the Group for the purpose
of this internal control statement.However, the management
of these material joint ventures and associated companies
have an existing monitoring function to assist them in
ensuring the system of internal control is functioning as
intended.
Risk Mana gement Frame
work
The Board has established clearly defined lines of
accountability and delegated authority. The monitoring
and review of system of internal control was under the
ambit of the Audit Committee since its formation in the
year 1998.In the year 2002,the implementation of a risk
management framework within the Group was also
included under the purview of the Audit Committee .
55
Kumpulan mempunyai proses yang berterusan untuk
mengenalpasti, menilai, memantau dan mengurus risiko
utama yang dihadapi oleh Kumpulan melalui Kad Risiko
Korporat. Risiko-risiko dikenal pasti dan dikelaskan
kepada sepuluh (10) komponen iaitu luaran, bersabit
peraturan, undang-undang,tadbir urus korporat, kewangan,
pelanggan, pembekal produk dan perkhidmatan, sumber
manusia dan risiko operasi.
Jawatankuasa Pengurusan Risiko, yang dipengerusikan
oleh Pengarah Urusan dan dihadiri oleh semua Ketua
Bahagian, Setiausaha Syarikat dan kakitangan pengurusan
kanan, sentiasa menilai Kad Risiko Korporat Syarikat.
Jawatankuasa Pengurusan Risiko akan memaklumkan
Jawatankuasa Audit sebarang perubahan penting dari
semasa ke semasa.
Struktur Kawalan dan Persekitaran
Lembaga Pengarah memberikan sepenuh komitmen bagi
memastikan kawalan persekitaran yang betul dikekalkan
dalam Kumpulan.Elemen-elemen utama dalam sistem-sistem
kawalan dalaman Kumpulan adalah seperti berikut:
Struktur Organisasi yang Mentakrifkan dengan Jelas
Peranan dan Tanggungjawab.
Struktur organisasi mentakrifkan dengan jelas termaterma rujukan - fungsi, kuasa dan tanggungjawab
jawatankuasa-jawatankuasa Lembaga Pengarah. Perihal
pengurusan syarikat-syarikat di dalam Kumpulan diamanahkan
kepada Ketua Pegawai Eksekutif masing-masing di mana
peranan dan tanggungjawab serta had bidang kuasa
ditetapkan oleh Lembaga Pengarah masing-masing.
Jawatankuasa Audit sebagai Entiti Bebas
Jawatankuasa Audit terdiri daripada ahli Lembaga Pengarah
Eksekutif dan Bukan Eksekutif.Jawatankuasa ini menentukan
arah dan penyeliaan terhadap fungsi audit dalaman bagi
memastikan ia bebas dari pihak pengurusan.
Dokumentasi Polisi dan Prosedur Dalaman
Polisi dan prosedur dalaman di mana had kuasa ditakrifkan
dengan jelas seperti yang dinyatakan dalam buku
panduan operasi,yang ketika ini sedang dikaji semula bagi
mengambilkira perubahan dalam proses dan struktur
perniagaan.
Projek dan pelaburan baru adalah tertakluk kepada kajian
dan penilaian Jawatankuasa Penilaian Pelaburan, sebelum
mengesyorkannya kepada Lembaga Pengarah untuk
kajian,pertimbangan dan kelulusan.
The Group has in place an on-going process for identifying,
evaluating, monitoring and managing the significant risks
affecting the achievement of its business objectives
documented via the Corporate Risk Scorecard (“CRS”).Risks
are identified and classified into ten (10) components
namely, external, regulatory, legal,corporate governance,
finance, customers, products and services suppliers,
human capital and operational risks.
A Risk Management Committee (“RMC”) chaired by the
Managing Director and attended by all Heads of Division,
Company Secretary and key managerial staff review the
Company’s CRS on a regular basis.The RMC will inform
the Audit Committee on significant changes on a periodic
basis.
Control Structure and Environment
The Board is fully committed to ensuring that a proper
control environment is maintained within the Group.The
key elements of the Group's internal control systems are
described below:
Organisation Structure with Clearly Defined Roles and
Responsibilities.
The organisation structure includes clear definition
to the terms of reference - functions, authorities and
responsibilities of the various committees of the Board.
The management of the various companies in the Group
is delegated to the respective Chief Executive Officer,
whose role and responsibilities and authority limits are
set by the respective Board.
Independence of the Audit Committee
The Audit Committee comprises Executive and NonExecutive Members of the Board and provides direction
and oversight over the internal audit function to enhance
its independence from management.
Documented Internal Policies and Procedures
Internal policies and procedures where delegated
authority limits are clearly defined as set out in a series
of standard operating manuals which is currently being
reviewed for improvement to reflect changes in business
structure and processes.
New investments and projects are subject to the review
and appraisal by the Investment Evaluation Committee,
before making recommendations to the Board for
review, consideration and approval.
Keterperincian Proses Bajet
Proses bajet terperinci telah diwujudkan yang memerlukan
kesemua syarikat utama beroperasi di dalam Kumpulan
menyediakan bajet tahunan,yang dibentang untuk kelulusan
oleh Lembaga Pengarah.
Satu sistem laporan yang efektif wujud bagi melaporkan
prestasi sebenar berbanding bajet yang diluluskan dan
sebarang variasi yang ketara akan disusuli oleh pihak
pengurusan dan dilaporkan kepada Lembaga Pengarah
semasa Mesyuarat Suku Tahun Lembaga.
Pemantauan dan Kajian
Proses pemantauan dan kajian yang diguna untuk memastikan
keberkesanan sistem kawalan dalaman adalah:
•
•
•
•
Pengarah Urusan berbincang dengan pengurusan
kanan syarikat-syarikat dalam Kumpulan setiap bulan
bagi menyelesaikan isu-isu berkaitan operasi,kewangan,
kakitangan dan lain-lain isu pengurusan.Isu-isu utama
diketengahkan dan dibincangkan dalam Mesyuarat
Lembaga Pengarah.
Pengarah Urusan menerima dan mengkaji laporan
prestasi suku tahunan daripada pengurusan pelbagai
sektor perniagaan yang merangkumi prestasi kewangan
dan laporan kemajuan.
Fungsi audit dalaman sentiasa mengkaji operasi
Kumpulan dan sistem kawalan dalamannya. Hasil
kajian ini juga akan dilaporkan kepada Jawatankuasa
Audit. Perancangan audit dalaman yang bertujuan
mengawasi pematuhan kepada polisi dan prosedur
Kumpulan dikaji dan diluluskan oleh Jawatankuasa Audit.
Jawatankuasa Audit sentiasa bermesyuarat bagi
menganalisa hasil kajian audit dalaman,membincangkan
perancangan pengurusan risiko dan memastikan
kelemahan yang dikenalpasti pada sistem kawalan
dalaman ditangani oleh pihak pengurusan.
Sistem kawalan dalaman yang dihuraikan dalam penyata
ini dianggap memadai oleh Lembaga Pengarah untuk
melindungi aset Kumpulan dan risiko perniagaan
Kumpulan secara keseluruhan adalah terkawal. Lembaga
Pengarah akan terus berusaha mendapatkan kepastian
tentang keberkesanan sistem kawalan dalaman melalui
penilaian juruaudit dalaman.
Detailed Budgeting Process
A detailed budgeting process is established requiring all
key operating companies in the Group to prepare budgets
annually, which are discussed and approved by the Board.
Effective reporting system on actual performance against
approved budgets is in place and significant variances are
followed up by management and reported to the Board
during the Quarterly Board Meetings.
Monitoring and Revie
w
The processes adopted to monitor and review the
effectiveness of the system of internal control are:
•
The Managing Director meets with the senior
management of the various companies in the Group
on a monthly basis to discuss and resolve key
operational, financial, personnel and other key
management issues. Significant issues are highlighted
and communicated at Board meetings.
•
The Board receives and reviews quarterly performance
reports from management of various lines of business
with financial performance and progress reports.
•
The internal audit function undertakes regular
reviews of the Group's operations and their system
of internal control. Results of such reviews are
reported regularly to the Audit Committee. Internal
audit plans that aim to monitor compliance with the
Group's policies and procedures are reviewed and
approved by the Audit Committee.
•
The Audit Committee meets regularly to review
internal audit findings,discuss risk management plans
and ensure that weaknesses in the system of internal
control highlighted are appropriately addressed by
management.
The system of internal control described in this statement
is considered by the Board to be adequate to safeguard
the Group's assets and the risks are at an acceptable level
throughout the Group's businesses. The Board will
continually seek regular assurance on the effectiveness of
the internal control system through appraisals by the
internal auditors.
57
KOMUNIKASI KORPORAT
CORPORATE COMMUNICATIONS
59
KOMUNIKASI KORPORAT
CORPORATE COMMUNICATIONS
PENDAHULUAN
Komunikasi memainkan peranan yang penting ke arah
kecemerlangan korporat dan perniagaan.Interaksi di antara
Syarikat dan publik perlulah memberikan manfaat kepada
kedua-dua belah pihak. Kumpulan Perangsang Selangor
Berhad (“KPS”) amat berhati-hati dalam memelihara saluran
komunikasinya.
Tiga (3) aspek kecemerlangan komunikasi yang menjadi
matlamat KPS ialah:
INTRODUCTION
Communications play an important role towards corporate
and business excellence. Interaction with the publics
the corporation is working with has to be a win-win
situation. Kumpulan Perangsang Selangor Berhad (“KPS”)
is taking cautious steps and deliberate action in maintaining
the communication channels.
1. Komunikasi Kakitangan ke arah pembentukan budaya
korporat yang cemerlang
2. Peranan KPS sebagai warga korporat
3. Perhubungan dengan Pemegang Saham dan Pelabur
The three (3) major communication areas of excellence
KPS is striving for are:
KOMUNIKASI KAKITANGAN KE ARAH
PEMBENTUKAN BUD AY A KORPORA T Y ANG
CEMERLANG
1. Staff Communications towards the establishment of
excellent corporate culture
2. KPS’s role as a corporate citizen
3. Shareholder and Investor Relations
Hari ini, budaya bukan sekadar menggambarkan nilai dan
karakter sesebuah organisasi - ia adalah nadi penggerak
yang memacunya ke tahap yang lebih membanggakan.
Justeru, KPS sentiasa sedar akan budaya korporatnya.
Malah, kemajuan dan kejayaan yang dikecapi selama ini
adalah kerana budaya korporatnya,yang berpandukan:
ST AFF
COMMUNICATIONS
TOWARDS
ESTABLISHMENT OF EXCELLENT CORPORATE
CULTURE
Profesionalisme
Kerjasama
Prihatin
Bahasa Inggeris
Teknologi Maklumat dan Komunikasi (“ICT”)
Profesionalisme
Kami mendefinasikan profesionalisme sebagai mengotakan
apa yang dikata tepat pada waktunya dan berpegang teguh
kepada nilai-nilai dan kepercayaan kami.Tiga (3) nilai utama
yang menjadi fokus kami ialah:
1. Memiliki kelayakan yang sesuai:pendidikan dan latihan
yang secukupnya, memiliki sikap yang baik serta
mendapatkan pengalaman baru dan ilmu secara
berterusan.
2. Memiliki komitmen dan semangat kepunyaan bersama
terhadap Syarikat:mengambil tindakan susulan dengan
segera,melaksanakan tugas dengan cekap dan kos efektif
selain mempunyai keupayaan menyesuaikan diri dengan
persekitaran.
3. Memiliki keupayaan untuk mengurus imej KPS:merasa
bangga bila mewakili Syarikat, memiliki keupayaan
untuk memelihara imej KPS dan menjadi Duta KPS
bila berurusan dengan publik.
Today, culture does more than reflect an organisation’s
values and moral fiber - it drives the organisation and
propels it to greater heights.That is why KPS has always
been conscious of its corporate culture. In fact, the
company’s growth and success over the years have been
largely supported by a good corporate culture, vis-a-vis:
Professionalism
Teamwork
Caring
English Language
Information and Communication Technology (“ICT”)
Professionalism
Our definition of being professional is timely delivery of
what we promise and to be true to our values and
beliefs.The three (3) main values that we focus on are:
1. Having the right qualifications: sufficient education
and training,having the right attitude and continuously
acquiring new experiences and knowledge .
2. Having the commitment and sense of ownership to
the organization: following through with great sense
of urgency, undertaking works with efficiency and
cost-effectiveness and being adaptive to change.
3. Having the ability to manage the image of KPS:having
great pride in representing the organization,ability to
maintain the image of KPS and acting as Ambassadors
of KPS to the publics.
Kerjasama
Kakitangan kami mewujudkan satu tenaga kerja yang kukuh
bukan kerana mereka “bekerja bersama” tetapi kerana
mereka “bekerja sebagai satu pasukan”.Kami memberi fokus
kepada tiga (3) aspek berikut:
1. Objektif yang sama dan nilai yang dikongsi:
Kepelbagaian di kalangan individu adalah lazim dan kami
memanfaatkannya bagi memberi variasi di dalam
pendekatan kami sambil berkongsi matlamat dan nilai
yang sama.
2. Komunikasi:
Komunikasi yang jelas adalah penting dalam kejayaan
pasukan kami di mana saling memahami adalah aset
utama.
3. Menghormati dan saling melengkapi:
Setiap individu mempunyai peranan di dalam pasukan.
Prihatin
Keprihatinan bermula dengan diri sendiri. Keprihatinan
terhadap mereka di sekeliling seseorang individu - keluarga,
rakan sekerja, organisasi dan jiran tetangga - membawa
kepada keprihatinan terhadap masyarakat secara umumnya.
Penggunaan Bahasa Inggeris
Bahasa Inggeris adalah bahasa perniagaan, bahasa ilmu dan
dikenali sebagai bahasa antarabangsa. Menyedari hakikat ini,
KPS menggalakkan kakitangannya agar fasih berbahasa
Inggeris. Ini adalah sejajar dengan usaha Kerajaan untuk
meningkatkan tahap penguasaan Bahasa Inggeris di kalangan
rakyat Malaysia.
Penggunaan ICT
Seperti yang kita sedari, ICT adalah alat yang
membolehkan peningkatan kecekapan di dalam dunia
perniagaan. Justeru itu,KPS meneruskan usaha menaik-taraf
kemudahan ICTnya agar seiring dengan persekitaran ICT
semasa. Fokus diberikan kepada aspek ilmu, perkongsian
dan teknologi.
PERANAN KPS SEBAGAI
WARGA KORPORA T
Hari ini, tanggungjawab sebagai warga korporat semakin
berat kerana orang ramai mahukan syarikat memainkan
peranan yang lebih besar dalam kehidupan masyarakat
mereka. Sejajar dengan perkembangan ini, KPS telah
mengkaji semula kedudukannya sebagai warga korporat
dengan melibatkan diri dalam aktiviti-aktiviti yang selaras
dengan nilai-nilai utama korporatnya - Profesionalisme,
Kerjasama dan Prihatin. Sebagai sebuah organisasi yang
Prihatin, inisiatif-inisiatif KPS sebagai warga korporat
adalah Berkhidmat Untuk Masyarakat dan Prihatin
Terhadap Alam Sekitar.
Teamwork
Our employees make a strong workforce not simply
because they “work together” but because they “work as
a team”. We focus on three (3) areas as follows:
1. Common objectives and shared values:
Diversity amongst individuals is common and we
capitalize it to provide varieties in our approach, yet
we share common objectives and shared values.
2. Communication:
Clear communication is vital to our team’s success
and understanding each other is our main asset.
3. Respect and complement one another :
Every individual has a place in the team.
Caring
Caring starts with individual’s care for himself/herself.
Caring for the groups around an individual - family, colleagues,
organisation and neighbourhood - culminates to caring
for the society at large .
Usage of English
English is a business language, the language of knowledge
and is internationally recognised.Recognising this fact,KPS
encourages its staff to have a good command of the English
language. This is also in tandem with the Government’s
effort to improve the standard of English proficiency
amongst Malaysians.
Usage of ICT
As we are aware, ICT is an enabler or a tool to higher
efficiency in the business world.As such, KPS continues
to enhance its ICT capabilities to keep abreast with the
current ICT environment. Our focus is in the areas of
knowledge, sharing and technology.
KPS’s ROLE AS A CORPORATE CITIZEN
Today, corporate citizenship has taken a broader engagement
with society as the public expects companies to play a
greater role in the lives of their communities. In light of
this development,KPS has repositioned itself as a caring
corporate citizen by engaging in activities that are closely
attuned to its core corporate values - Professionalism,
Teamwork and Caring. As a Caring organization, KPS’s
corporate citizenship initiatives are Services to the
Community and Care for the Environment.
61
Berkhidmat untuk Masyarakat
Pada tahun 2003,KPS bersama anak-anak syarikatnya dan
syarikat induknya,Kumpulan Darul Ehsan Berhad (“KDEB”),
mengambil bahagian dalam pelbagai projek kemasyarakatan
termasuk:
•
•
•
•
•
•
•
Program Kerajaan Prihatin
Kempen derma darah
Kursus penguasaan Bahasa Inggeris untuk guru-guru
Melayu di luar bandar
Kempen keamanan
Kempen ICT
Hari Bertemu Pelanggan
Lawatan ke rumah kebajikan
Prihatin Terhadap Alam Sekitar
Selain berkhidmat untuk masyarakat, KPS juga
bertanggungjawab memelihara alam sekitar. Ini adalah
sejajar dengan aspirasi Kerajaan Negeri Selangor. Projekprojek pembangunan kami melambangkan komitmen kami
terhadap pemeliharaan alam sekitar seperti di Templer
Park, yang telah dipelihara sebagai kawasan perlindungan
semulajadi.Projek-projek baru seperti BioValley, Berjuntai
Bestari dan Selangor Maritime Corridor kini sedang
dibangunkan dengan mengurangkan impak aktiviti-aktiviti
pembangunan dan ekonomi ke atas alam sekitar.
Misi kami untuk dikenali sebagai sebuah organisasi
prihatin, berorientasikan masyarakat dan mesra alam
digambarkan oleh projek-projek pembangunan di dalam
sektor-sektor perniagaan kami. Dari Hartanah hingga
kepada Hospitaliti dan Rekreasi,projek-projek pembinaan
kami dilaksanakan dengan mengambil kira pemeliharaan
alam sekitar. Kami percaya dalam memperseimbangkan
alam sekitar dan ekonomi bagi membolehkan masyarakat
menikmati gaya hidup yang berkualiti di dalam persekitaran
yang sihat.
Melindungi dan memperbaiki kualiti alam sekitar jelas
digambarkan oleh inisiatif-inisiatif kami yang sentiasa
mematuhi undang-undang dan peraturan tempatan.
Sebagai contoh, pembangunan Berjuntai Bestari selari
dengan komitmen Kerajaan Negeri Selangor terhadap
pembangunan mampan seperti yang terdapat di dalam
dokumen berikut:
•
•
“Strategi Pembangunan Mampan Selangor”
“Agenda 21 Selangor”
Service to the Community
In 2003,KPS together with its subsidiaries and its parent
company, Kumpulan Darul Ehsan Berhad (“KDEB”),
participated in numerous community projects including:
•
•
•
•
•
•
•
Caring Government Programme
Blood donation campaign
English proficiency course for rural Malay teachers
Peace campaign
ICT campaign
“Meet the Customer” Day
Visits to welfare homes
Care for the Environment
In addition to serving the community, KPS is also responsible
for protecting the environment.This is in tandem with
the aspiration of the Selangor State Government. Our
development projects epitomize our commitment
towards environment preservation as illustrated by
Templer Park, which has been preserved as a natural
haven. New projects such as BioValley, Berjuntai Bestari
and Selangor Maritime Corridor are currently being
developed by taking the environmental elements into its
growth and economic activities.
Our mission to be recognized as a caring, community
oriented and environmental friendly organization is best
reflected by the development projects in our business
sectors. From Property to Hospitality and Recreation,
our projects take cognizance of the environment. We
believe in promoting a balance between the environment
and the economy so that our communities can afford a
quality lifestyle in a healthy environment.
Protecting and improving the quality of our environment
are evident in our initiatives where we consistently comply
with local rules and regulations. For example, the
development of Berjuntai Bestari is in compliance with
the Selangor State Government’s commitments towards
sustainable development as highlighted in the following
documents:
•
•
“Strategi Pembangunan Mampan Selangor”
“Agenda 21 Selangor”
PERHUB UNGAN PEMEGANG SAHAM D
PELABUR
AN
Lembaga Pengarah mengakui keperluan untuk berkomunikasi
secara efektif dalam usahanya untuk membina hubungan
jangka panjang dengan para pemegang saham dan pelabur.
Dalam tahun 2003, Kumpulan melaksanakan pelbagai
aktiviti perhubungan pemegang saham/pelabur termasuk
sidang media sebelum dan selepas penyenaraian di Bursa
Malaysia, Mesyuarat Agung Tahunan dan beberapa siri
perbincangan dengan pengurus-pengurus dana dan
penganalisa-penganalisa k ewangan. Cara-cara komunikasi
yang lain dengan pelabur termasuk laporan tahunan,
pengumuman-pengumuman korporat kepada Bursa
Malaysia dan kenyataan-kenyataan akhbar.
KALENDAR KORPORA
T
SHAREHOLDER AND INVESTOR RELATIONS
The Board recognises the need for effective communications
in its continuing efforts to build a long-term relationship
with its shareholders and investors.In the year 2003,the
Group implemented various shareholder/investor relations
activities including press conferences prior and after the
Bursa Malaysia listing, the Group’s Annual General
Meeting (“AGM”) and a series of road shows and meetings
with fund managers and financial analysts. Other modes
of communications with investors include annual report,
basic corporate announcements to Bursa Malaysia and
press releases.
18 MAC 2003 - KEMPEN DERMA DARAH
CORPORATE CALENDAR
Quality Hotel City Centre, dengan kerjasama Pusat
Darah Negara, menganjurkan kempen derma darah bagi
mengatasi masalah kekurangan darah sebagai sebahagian
daripada sumbangan Kumpulan kepada masyarakat.
Kempen selama satu hari ini menyaksikan penglibatan
kakitangan hotel,tetamu dan orang awam di sekitar Jalan
Raja Laut.
29 & 30 MAC 2003 - PELANCARAN “TEMPLER HERITAGE”
SAP Holdings Berhad,menerusi anak syarikatnya,Templer
Park Development Sdn Bhd, melancarkan projek
pembangunan perumahan terbarunya yang terdiri daripada
rumah teres dua tingkat,“Templer Heritage”, di Templer
Park. Pelancaran ini diadakan untuk bakal pembeli yang
berdaftar menerusi jemputan khas.
10 - 13 APRIL 2003 - MAPEX 2003
Kumpulan Hartanah Selangor Berhad (“KHSB”), anak
syarikat Kumpulan Perangsang Selangor Berhad (“KPS”),
mengambil bahagian dalam “Pameran Hartanah Malaysia
2003” (MAPEX 2003) yang berlangsung di Pusat Dagangan
Dunia Putra (“PWTC”) sebagai sebahagian daripada strategi
promosinya.
18 MARCH 2003 - BLOOD DONATION CAMPAIGN
Quality Hotel City Centre, in collaboration with National
Blood Centre, organized a blood donation campaign to
help overcome the shortage in blood bank as part and
parcel of the Group’s contributions to society.The one-day
event witnessed participation by hotel staff, guests and
residents in the vicinity of Jalan Raja Laut.
29 & 30 MARCH 2003 - LAUNCHING OF “TEMPLER
HERITAGE”
SAP Holdings Berhad,through its subsidiary Templer Park
Development Sdn Bhd, launched its latest development
made up of affordably priced double storey terrace,
“Templer Heritage”, in Templer Park. The soft launch
exercise was carried out for its registered prospects via
special invitation.
10 - 13 APRIL 2003 - MAPEX 2003
Kumpulan Hartanah Selangor Berhad (“KHSB”), a
subsidiary company of Kumpulan Perangsang Selangor
Berhad (“KPS”), participated in “Pameran Hartanah
Malaysia 2003” (MAPEX 2003),which took place in Putra
World Trade Centre (“PWTC”) as part of its promotional
strategy.
63
17 APRIL 2003 - PELANC ARAN LOGO B ARU KHSB
Satu majlis pelancaran logo baru Kumpulan Hartanah
Selangor Berhad (“KHSB”), anak syarikat Kumpulan
Perangsang Selangor Berhad (“KPS”),telah disempurnakan
oleh YAB Dato’ Seri Dr Mohamad Khir bin Toyo, Menteri
Besar Selangor. Dengan pelancaran logo baru ini, KPS
meletakkan KHSB sebagai salah satu syarikat hartanah
utama di negara ini.
17 APRIL 2003 - LAUNCHING OF KHSB’s NEW LOGO
A ceremony to launch the new logo of Kumpulan
Hartanah Selangor Berhad (“KHSB”),a subsidiary company
of Kumpulan Perangsang Selangor Berhad (“KPS”), was
officiated by YAB Dato’ Seri Dr Mohamad Khir bin Toyo,
Menteri Besar Selangor.With the launch of the new logo,
KPS is positioning KHSB as one of the leading property
companies in the countr y.
25 APRIL 2003 - PENAKUNGAN AIR DI EMPANGAN SSP3
Majlis penakungan air di Fasa 3 Sungai Selangor (“SSP3”)
telah disempurnakan oleh YAB Dato’ Seri Dr Mohamad
Khir bin Toyo, Menteri Besar Selangor, di tapak pembinaan
Empangan SSP3.
3 - 6 MEI 2003 - PAMERAN PERUMAHAN DAN HARTANAH
Kumpulan Hartanah Selangor Berhad (“KHSB”) telah
mengambil bahagian dalam “Pameran Perumahan & Hartanah
Selangor 2003”.Dianjurkan oleh Dewan Perniagaan Melayu
Malaysia Cawangan Selangor, pameran ini berlangsung
di Kompleks PKNS, Shah Alam. KHSB mempamerkan
pembangunan hartanahnya di Templer Park Resort,
Lestari Perdana and Bandar Armada Putra.
25 APRIL 2003 - WATER CATCHMENT AT SSP3 DAM
Water catchment ceremony at Sungai Selangor Phase 3
Dam (“SSP3”) was officiated by YAB Dato’ Seri Dr
Mohamad Khir bin Toyo, Menteri Besar Selangor, at the
SSP3 Dam construction site .
3 - 6 MAY 2003 - HOUSING AND PROPERTY EXHIBITION
Kumpulan Hartanah Selangor Berhad (“KHSB”) participated
in “Pameran Perumahan & Hartanah Selangor 2003”.Organised
by Malaysian Malay Chamber of Commerce Selangor
Branch, the exhibition took place at Kompleks PKNS,
Shah Alam. KHSB showcased its existing property
developments namely, Templer Park Resort, Lestari
Perdana and Bandar Armada Putra.
20 MEI 2003 - MAJLIS PECAH TANAH “BIOVALLEY”
Majlis pecah tanah untuk BioValley, satu usahasama pintar
di antara Kumpulan Hartanah Selangor Berhad (“KHSB”)
dan Kementerian Sains,Teknologi dan Inovasi (“MOSTI”),
telah disempurnakan oleh Perdana Menteri,Dato’ Seri Dr
Mahathir Mohamad.
20 MAY 2003 - BIOVALLEY GROUND BREAKING
CEREMONY
Ground breaking ceremony for BioValley, a smart
partnership development project between Kumpulan
Hartanah Selangor Berhad (“KHSB”) and the Ministry of
Science, Technology and Innovation (“MOSTI”), was
officiated by Prime Minister, Dato’ Seri Dr Mahathir
Mohamad.
14 JUN 2003 - SAP HOLDINGS BERTEMU PEMBELI
Sebagai warga korporat yang bertanggungjawab, SAP
Holdings Berhad telah bertemu dengan pembeli rumah
Taman Malawati Jaya untuk memberi maklumat tentang
perkembangan terkini.
22 JULAI 2003 - PENYENARAIAN KPS DAN KHSB
14 JUNE 2003 - SAP HOLDINGS MET PURCHASERS
Pada 22 Julai 2003, Kumpulan Perangsang Selangor Berhad
(“KPS”) dan Kumpulan Hartanah Selangor Berhad
(“KHSB”) - dua anak syarikat Kumpulan Darul Ehsan Berhad
(“KDEB”) - mencatat sejarah apabila disenaraikan di Bursa
Malaysia (dahulu dikenali sebagai Bursa Saham Kuala
Lumpur) masing-masing dengan modal berbayar RM431.4
juta dan RM450.0 juta,berikutan penggabungan korporat
KDEB.
SAP Holdings Berhad met the property purchasers
of Taman Malawati Jaya on 14 June 2003 to provide
information on the latest development.
22 JULY 2003 - LISTING OF KPS AND KHSB
On 22 July 2003, Kumpulan Perangsang Selangor Berhad
(“KPS”) and Kumpulan Hartanah Selangor Berhad
(“KHSB”) - two subsidiary companies of Kumpulan Darul
Ehsan Berhad (“KDEB”) - achieved a significant milestone
when they were listed on the Main Board of Bursa
Malaysia (formerly known as Kuala Lumpur Stock
Exchange) with an enlarged paid-up capital of RM431.4
million and RM450.0 million, respectively, as part of
KDEB’s corporate merger exercise.
22 SEPTEMBER 2003 - VISIT BY FOREIGN INVESTORS
On 22 September, Central Spectrum (M) Sdn Bhd
(“CSSB”) played host to 11 delegates from the Republic
of China in a special briefing on investment opportunities
at Pulau Indah Industrial Park.
22 SEPTEMBER 2003 – LAWATAN PELABUR ASING
Pada 22 September, Central Spectrum (M) Sdn Bhd
(“CSSB”) menjadi hos kepada 11 orang wakil delegasi
dari Republik China dalam satu taklimat khas mengenai
peluang-peluang pelaburan di Taman Perindustrian Pulau
Indah.
65
6 OKTOBER 2003 - “KEMPEN SENYUM” QUALITY HOTEL
CITY CENTRE
Quality Hotel City Centre melancarkan “Kempen
Senyum” yang bertemakan “We Go the Extra Smile” bagi
meningkatkan perkhidmatan kami kepada para pelanggan.
Kempen ini membuktikan bahawa misi Kumpulan untuk
mengekalkan perkhidmatan berkualiti melebihi jangkaan
pelanggan turut diamati oleh anak-anak syarikat.
21 OKTOBER 2003 - LAWATAN KE PULAU INDAH
Anak Syarikat Kumpulan Perangsang Selangor Berhad
(“KPS”), Kumpulan Hartanah Selangor Berhad (“KHSB”),
bersama-sama anak syarikatnya, Central Spectrum (M)
Sdn Bhd, menganjurkan satu sesi lawatan ke Pulau Indah
bersama media massa bagi memperkenalkan pembangunan
hartanahnya termasuk Kolej Antarabangsa INPENS dan
Bandar Armada Putra.Lawatan tersebut telah memberikan
Pulau Indah liputan di seluruh negara.
7 NOVEMBER 2003 - BERBUKA PUASA BERSAMA
WARGA EMAS
6 OCTOBER 2003 - QUALITY HOTEL CITY CENTRE’S
“KEMPEN SENYUM”
Quality Hotel City Centre launched “Kempen Senyum”
with the theme “We Go the Extra Smile” to enhance our
services to customers. The campaign proves that the
Group’s mission of maintaining its services beyond
customers’ expectations is also observed by our
subsidiary companies.
21 OCTOBER 2003 - SITE VISIT TO PULAU INDAH
A subsidiary company of Kumpulan Perangsang Selangor
Berhad (“KPS”), Kumpulan Hartanah Selangor Berhad
(“KHSB”),together with its subsidiary company, Central
Spectrum (M) Sdn Bhd, organised a site visit to Pulau
Indah for the media in its efforts to introduce its property
developments including INPENS International College
and Bandar Armada Putra.The visit gave Pulau Indah a
nation-wide coverage.
7 NOVEMBER 2003 - BREAKING OF FAST WITH SENIOR
CITIZENS
KPS telah meraikan warga emas dari Rumah Seri
Kenangan Cheras yang dijemput khas dalam satu majlis
berbuka puasa di Quality Hotel Shah Alam. Program ini
adalah sebahagian daripada inisiatif KPS sebagai warga
korporat iaitu Berkhidmat Untuk Masyarakat.
The Group entertained senior citizens from Rumah Seri
Kenangan Cheras who were specially invited to experience
breakfasting at Quality Hotel Shah Alam.This programme
is part and parcel of KPS’s corporate citizen initiative Services to the Community.
8 DISEMBER 2003: RUMAH TERBUKA HARI RAYA
AIDIL FITRI
Kumpulan mengambil bahagian dalam satu majlis Rumah
Terbuka Hari Raya yang dihos oleh syarikat induknya,
Kumpulan Darul Ehsan Berhad (“KDEB”), di Quality
Hotel Shah Alam sebagai sebahagian daripada program
komunikasi awamnya. Majlis yang meriah tersebut telah
disempurnakan oleh YAB Dato’ Seri Dr. Mohamad Khir
bin Toyo, Dato’ Menteri Besar Selangor yang juga merupakan
Pengerusi KDEB.
8 DECEMBER 2003: HARI RAYA AIDIL FITRI OPEN HOUSE
The Group participated in Hari Raya Open House hosted
by its holding company, Kumpulan Darul Ehsan Berhad
(“KDEB”), at Quality Hotel Shah Alam as part of KPS’s
public communications programmes.The colourful event
was launched by YAB Dato’ Seri Dr. Mohamad Khir bin
Toyo, Dato’ Menteri Besar Selangor cum Chairman of
KDEB.
DECEMBER 2003: HOUSES BUILT FOR THE HARDCORE
POOR
The Group allocated RM1.0 million this year to provide
new homes for the hardcore poor in Selangor. By 31
December 2003,a total of 53 homes were built and 15
homes were renovated under the “Program Kerajaan
Prihatin”.
DISEMBER 2003: RUMAH-RUMAH UNTUK GOLONGAN
MISKIN
KPS menyumbang RM1.0 juta bagi membina rumahrumah baru untuk golongan miskin di seluruh negeri
Selangor. Sehingga 31 Disember 2003, 53 buah rumah
dibina manakala 15 buah lagi dibaikpulih di bawah
Program Kerajaan Prihatin.
KALENDAR KEWANGAN
2003
FINANCIAL CALENDAR
Keputusan/Results
Suku Tahun Kedua
Second Quarter
diumumkan
announced
28 Ogos 2003
28 August 2003
Suku Tahun Ketiga
Third Quarter
diumumkan
announced
21 November 2003
21 November 2003
Suku Tahun Keempat
Fourth Quarter
diumumkan
announced
26 Februari 2004
26 February 2004
Mesyuarat Agung Tahunan Ke Dua Puluh Enam
Tw enty Sixth Annual General Meeting
24 Jun 2003
24 June 2003
67
SUMBER MANUSIA
HUMAN RESOURCES
AKTIVITI KAKITANGAN
STAFF ACTIVITIES
1. Mesyuarat Kakitangan
Perjumpaan kakitangan dengan Pengerusi Eksekutif dan
Pengarah Urusan Kumpulan Perangsang Selangor Berhad
(“KPS”) merupakan komponen utama daripada program
perhubungan kakitangan.Melalui perjumpaan ini,kakitangan
berpeluang berkomunikasi terus dengan pengurusan
atasan serta dimaklumkan dengan aktiviti dan perkembangan
semasa syarikat.
2. Jawatankuasa Perunding Kakitangan
Mesyuarat Jawatankuasa Perunding Kakitangan adalah
sebahagian daripada aktiviti komunikasi kakitangan yang
diadakan setiap empat bulan.Mesyuarat ini memberi ruang
kepada kakitangan berkomunikasi terus serta membincangkan
perkara-perkara berhubung pekerjaan dan suasana kerja.
3. Anugerah Kecemerlangan Akademik
Syarikat sentiasa memberi perhatian kepada pencapaian
pelajaran anak-anak kakitangan. Anak-anak kakitangan
yang berjaya dengan cemerlang di dalam peperiksaan
UPSR, PMR, SPM dan STPM diberi penghargaan berupa
wang yang diharap dapat menjadi insentif kepada mereka
untuk terus berusaha dengan gigih dan tekun.Sumbangan
disampaikan oleh Pengerusi Eksekutif dan Pengarah
Urusan KPS kepada ibubapa anak-anak yang layak.
4. Sukan dan Rekreasi
Kelab Sukan dan Rekreasi Perangsang Selangor telah
menganjurkan beberapa aktiviti sukan dan sosial di antara
syarikat dan jabatan.Di samping memberi peluang kepada
kakitangan untuk menunjukkan kebolehan bersukan,
aktiviti Kelab ini juga berupaya memupuk semangat
kekeluargaan dan berpasukan di antara kakitangan.
5. Hari Lahir Kakitangan
Sambutan hari lahir kakitangan diraikan setiap tiga bulan.
Syarikat juga memberi kek hari lahir kepada setiap
kakitangan yang menyambut hari kelahiran mereka.
6. Perhimpunan Kakitangan
Perhimpunan kakitangan dianjurkan setiap bulan di mana
mereka berpeluang beriadah dan beramah mesra dengan
ahli-ahli Pengurusan dan rakan-rakan sekerja.
Ucapan Presiden merupakan Agenda utama dan senamrobik
juga dimuatkan di dalam aturcara ini.
1. Staff Meetings
Staff meetings with Executive Chairman and Managing
Director of Kumpulan Perangsang Selangor Berhad
(“KPS”) form an integral part of the Employee
Communications programme. These meetings not only
provide an opportunity for staff to communicate directly
with top management but serve as a platform to keep
employees abreast with Company’s activities and new
business developments.
2. Staff Consultative Committee
Staff Consultative Committee Meetings are held every
four months and are aimed to give employees a sense of
personal involvement and to provide adequate opportunities
for them to discuss matters affecting their job and work
environment.
3. Academic Achie vement A war d
The Company places great emphasis on children’s education
and accords cash rewards to employees whose children
excel in the UPSR, PMR, SPM and STPM Examinations.
The rewards are given as an incentive for the children to
strive harder and are presented personally by the
Executive Chairman and Managing Director to the parents
of those eligible.
4. Sports and Recreation
Kelab Sukan dan Rekreasi Perangsang Selangor organised
various sports and social activities at inter-Company and
Departmental levels. Whilst staff got to exhibit their
sporting skills, the Club activities also helped to bring
staff together in the true spirit of corporate unity and
teamwork.
5. Staff Birthdays
Staff gets together for birthday celebrations every three
months and on every employee’s birthday, the Company
presents them with a cake.
6. Staff Assemb ly
Staff Assemblies are held every month and serve as an
important avenue for staff to get together with Management
and fellow colleagues.
The President’s Address forms the main Agenda and an
aerobics session is also incorporated into the programme .
7. Anugerah Perkhidmatan Lama
Syarikat sentiasa memberi penghargaan kepada kakitangan
yang telah berkhidmat lama dan setia kepada syarikat.
Anugerah Khidmat Lama diberi kepada kakitangan yang
telah berkhidmat selama 10,15,20 dan 25 tahun.
PROGRAM LATIHAN
22 Februari 2003
Ceramah Kecemerlangan Diri
Kakitangan Kumpulan Perangsang Selangor Berhad
(“KPS”) telah menghadiri ceramah motivasi bertajuk
“Kecemerlangan Diri” yang dikendalikan oleh Dr Mohd
Amir Syarifuddin. Program ini merupakan siri ceramah
motivasi yang dianjurkan oleh KPS untuk memberi
penekanan kepada kakitangan supaya sentiasa muhasabah
dan mempertingkatkan diri.
8 Mac 2003
Imej dan Persiapan Diri
KPS telah menganjurkan program berhubung “Imej dan
Persiapan Diri” yang bertujuan mempersiapkan kakitangan
ke arah Imej dan Profesionalisme. Program yang dikendalikan
oleh Urbane Consulting ini turut memberi pendedahan
berhubung budi bahasa sosial dan perniagaan.
26 – 28 Mei 2003
“The 7 Habits of Highly Effective People”
Program “The 7 Habits of Highly Effective People” telah
dianjurkan dengan kerjasama Leadership Resources
(Malaysia) Sdn Bhd. Program ini yang dihadiri oleh
Pengurus-pengurus dan kakitangan Eksekutif ini memberi
fokus kepada peningkatan diri melalui prinsip-prinsip
“7 Habits”.
4 September 2003
Pr ogram Latihan Syarikat “Corporate Disclosur
e
Rules and Regulations in Malaysia” Untuk
Pengarah-pengarah
Berikutan daripada penyenaraian syarikat-syarikat KPS dan
Kumpulan Hartanah Selangor Berhad (“KHSB”), Pengurusan
KPS telah menganjurkan program latihan untuk Pengarahpengarah dan Pengurusan KPS dan KHSB bertajuk
“Corporate Disclosure Rules and Regulations in Malaysia”.
Objektif program adalah untuk membantu Pengarah-pengarah
mengumpul mata ‘CEP’ yang diperlukan melalui kursuskursus yang telah diakreditasikan oleh Bursa Malaysia
(sebelum ini dikenali sebagai Bursa Saham Kuala Lumpur).
7. Long Service
Awar d
The Company always takes pride in rewarding employees
for their loyalty and unwavering dedication to the Company.
Long Service Awards are accorded to staff who have
attained 10,15,20 and 25 years’ service, respectively.
TRAINING ACTIVITIES
22 February 2003
Talk on Personal Excellence
Employees of Kumpulan Perangsang Selangor Berhad
(“KPS”) attended a talk on “Personal Excellence” conducted
by Dr Mohd Amir Syarifuddin.The talk formed part of a
series of motivational programmes organised by KPS to
promote change and self-improvement amongst employees.
8 March 2003
Professional Ima ge and Grooming
KPS organised a talk on “Professional Image and
Grooming”, which was aimed at enhancing employees’
image and professionalism at work. The programme,
which was conducted by Urbane Consulting,also educated
participants on the art of social and business etiquette.
26 – 28 May 2003
The 7 Habits of Highly Effective People
KPS in cooperation with Leadership Resources (Malaysia)
Sdn Bhd organised an in-house programme on “The 7
Habits of Highly Effective People”.The programme was
attended by Managers and Executives and was aimed at
empowering participants to promote change and selfimprovement by applying the “7 Habits” principles.
4 September 2003
Directors’ Training Pr ogramme on “Corporate
Disclosure Rules and Regulations in Malaysia
“
Pursuant to the public listing of KPS and Kumpulan
Hartanah Selangor Berhad (“KHSB”), KPS organised a
training programme on “Corporate Disclosure Rules and
Regulations in Malaysia” for the Directors and
Management staff of KPS and KHSB.
The objective of the programme was to assist Directors
to comply with and to accumulate Continuing Education
Programmes (“CEP”) Points by attending CEP accredited
by the Bursa Malaysia (formerly known as Kuala Lumpur
Stock Exchange).
71
Ianya juga bertujuan memberi penerangan dan panduan
berhubung maklumat korporat yang perlu diberitahu oleh
Syarikat mengikut garis panduan dan Kod Tadbir Urus
Korporat.
Program telah dikendalikan oleh Research Institute of
Investment Analysts Malaysia, sebuah institusi yang
diakreditasikan oleh Suruhanjaya Sekuriti untuk mengendalikan
program latihan untuk Pengarah-pengarah.
It was also aimed at assisting participants in understanding
the various regulatory requirements in maintaining good
Corporate Governance and Disclosure, appropriate
standards of corporate responsibility and accountability.
Seramai empat puluh tiga (43) peserta telah menghadiri
kursus tersebut, termasuk Pengarah-pengarah dan
Pengurusan Atasan Syarikat.
The programme was conducted by Research Institute
of Investment Analysts Malaysia,an accredited Continuing
Professional Education provider for Licensed Representatives
with the Securities Commission.
15 & 16 September 2003
“Finance for Non-Finance Mana
g ers”
Bengkel “Finance for Non-Finance Managers” telah diadakan
pada 15 & 16 September 2003, dihadiri oleh Pengurus
dan Eksekutif Kanan Syarikat.
Bengkel ini bertujuan memberi pendekatan dan kefahaman
berhubung Penyata-penyata Kewangan serta aplikasinya
di tempat kerja. Bengkel ini telah dikendalikan secara
praktikal di mana peserta diberi peluang mengaplikasikan
konsep dan penggunaan Akaun Untung-Rugi, Kunci KiraKira dan Aliran Wang Tunai.
Bengkel telah dikendalikan oleh The Learning Coach dengan
kerjasama Tetuan PricewaterhouseCoopers.
Forty-three (43) participants attended the programme,
comprising Company Directors and Senior Management.
15 & 16 September 2003
Finance for Non-Finance Mana
g ers
An intensive workshop on Finance for Non-Finance
Managers was held on 15 & 16 September 2003,attended
by Managers and Senior Executives.
The objective of the workshop was to help participants
understand Financial Statements and its application at the
workplace. Through practical simulation and board
games, participants learned how to apply fundamental
accounting concepts and gained practical insight into the
Profit and Loss,Balance Sheet and Cash Flow.
The workshop was conducted by The Learning Coach in
association with Messrs.PricewaterhouseCoopers.
PENYATA KEWANGAN
FINANCIAL STATEMENTS
KUMPULAN PERANGSANG SELANGOR BERHAD
(Incorporated in Malaysia)
DIRECTORS’ REPORT
The Directors have pleasure in submitting their report together with the audited financial statements of the Group and the Company for
the financial year ended 31 December 2003.
PRINCIPAL ACTIVITIES
The principal activity of the Company is that of investment holding.The principal activities of the subsidiaries are set out in Note 40 to the
financial statements.
There have been no significant changes in the nature of these activities during the financial year.
FINANCIAL RESULTS
Group
RM'000
Profit after taxation
Minority interest
Net profit for the financial year
Company
RM'000
69,769
(12,805)
237,901
0
56,964
237,901
DIVIDENDS
The dividends paid or declared by the Company since 31 December 2002, were as follows:
RM’000
In respect of the financial year ended 31 December 2002:
- as shown in the Directors’ report of that year
Interim gross dividend of 7 sen per share, less income tax,paid on 17 June 2003.
5,082
The Directors now recommend the payment of a final gross dividend of 2 sen per share on 431,403,960 ordinary shares, less income tax
of 28%,amounting to RM6,212,217 which,subject to the approval of members at the forthcoming Annual General Meeting of the Company,
will be paid on 13 August 2004 to shareholders registered on the Company’s Register of Members at the close of business on 21 July 2004.
RESERVES AND PROVISIONS
All material transfers to or from reser ves and provisions during the financial year are shown in the financial statements.
ISSUE OF SHARES
During the financial year, 42,974,662 new ordinary shares of RM1.00 each were issued at an issue price of RM10.10 per ordinary share to
satisfy the purchase consideration for the acquisition of subsidiaries pursuant to the Composite Scheme of Reconstruction.
The new ordinary shares issued during the financial year ranked pari passu in all respect with the existing shares of the Company.
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
On 28 September 2001, SAP Holdings Berhad (“SAP”), Brisdale Holdings Berhad (“Brisdale”), Kumpulan Darul Ehsan Berhad (“KDEB”),
Kumpulan Hartanah Selangor Berhad (“KHSB”),the Company and Perbadanan Kemajuan Negeri Selangor (“PKNS”) had on that day entered
into an agreement to merge and rationalise the property related businesses of SAP, Brisdale, KDEB and PKNS (in respect of its
shareholding in Central Spectrum (M) Sdn.Bhd.(“CSSB”)) and the property related business and infrastructure businesses of the Company
by implementation of,inter-alia the following:
(i)
Acquisition of 100% equity interest in SAP comprising 85,000,002 SAP Shares by KHSB from all the shareholders of SAP for a total
purchase consideration of RM228,826,536;
(ii)
Acquisition of 100% equity interest in Brisdale comprising 120,000,002 Brisdale Shares by KHSB from all the shareholders of Brisdale
for a total purchase consideration of RM181,715,189;
DIRECTORS’ REPORT (continued)
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONTINUED)
(iii)
Acquisition of approximately 76.67% equity interest in CSSB comprising 4,030,507 CSSB Shares by KHSB from KDEB,the Company
and PKNS for a total purchase consideration of RM235,678,149;
(iv)
Acquisition of 100% equity interest in Perangsang Hotel and Properties Sdn.Bhd.(‘PHP’) comprising 24,074,258 PHP Shares by KHSB
from the Company for a total purchase consideration of RM75,220,000;
(v)
Acquisition of 49% equity interest in KDE Recreation Berhad (‘KDERB’) comprising 4,900,000 KDERB Shares by KHSB from the
Company for a total purchase consideration of RM21,881,930;
(vi)
Acquisition of the Land by KHSB from the Company for a total purchase consideration of RM19,020,000;
(the acquisitions as stated in paragraphs (i) to (vi) above are collectively referred to as the “Original Merger”)
(vii)
Capital repayment and distribution by the Company to all its shareholders after the Original Merger of up to 215,701,980 new KHSB
Shares on the basis of three (3) new KHSB Shares for every two (2) Shares in the Company held after the Original Merger;
collectively referred as the Company’s distribution;
(viii)
Bonus issue of up to 287,602,640 new Shares in the Company to be credited as fully paid-up on the basis of two (2) new Shares in
the Company for every one (1) Share in the Company held after the Original Merger; collectively referred as the Company’s bonus
issue;
(ix)
Transfer of the existing listing status of Brisdale and SAP to the Company and KHSB after the Merger, distribution and bonus issue
by the Company;
(x)
Offer for sale or placement by KDEB of KHSB Shares and Shares in the Company at a price to be determined at a later stage for
the purpose of meeting the public shareholding spread of KHSB and the Company;and
(xi)
The Company’s Employee Share Option Scheme (‘ESOS’) for the eligible employees of the enlarged Group.
The above Composite Scheme of Reconstruction was completed during the financial year and the Company was listed on the Main Board
of the Bursa Malaysia (formerly known as the Kuala Lumpur Stock Exchange),on 22 July 2003.
EMPLOYEE SHARE OPTION SCHEME
The Company implemented an ESOS on 11 June 2003 for a period of 10 years. The ESOS is governed by the by-laws which were approved
by the shareholders on 10 February 2003.
Details of the ESOS are set out in Note 30(c) to the financial statements.
The Company has been granted exemption by the Companies Commission of Malaysia pursuant to Section 169(11) of the Companies Act,
1965 from having to disclose the list over option holders and their holdings under the ESOS other than option holders who hold options
over ordinary shares of 200,000 and above.
The movements during the financial year in the number of options over ordinary shares of the Company granted to the option holders who
hold options over ordinary shares of 200,000 and above are as follows:
Number of options over ordinary shares of RM1.00 each in the Company
Name of employee
Rosni binti Rahmat
Wong Yien Kim
Mohd Noor bin Ismail
Revi A/L Krishnan
Chellappan Pillai
Tan It Beng
Exercise
price
RM/share
At
1.1.2003
Granted
Terminated
Exercised
At
31.12.2003
1.62
1.62
1.62
0
0
0
1,080,000
510,000
450,000
0
0
0
0
0
0
1,080,000
510,000
450,000
1.62
1.62
0
0
450,000
225,000
0
0
0
0
450,000
225,000
75
DIRECTORS
The Directors who have held office during the period since the date of the last report are as follows:
YBhg Dato' Haji Zabir bin Bajuri,DPMS,SSA,KMN,PPT
YBhg Dato' Haji Azlan bin Hashim,DSSA,DSNS
YBhg Dato' Haji Ab. Halim bin Mohyiddin,DPMS
YBhg Datin Paduka Juma’ah binti Moktar, DSSA,ASA,PJK
YBhg Dato’ Haji Sumadi bin Haji Ismail,DPTJ,JP
YB Senator Dato’ Ikhwan Salim bin Dato’ Sujak,DSIS, PJK
YBhg Dato’ Dr. Haji Karim bin Haji Mansor, DPMS,ASA,PJK
YB Dato’ Ahmad Bhari bin Abd.Rahman,DSSA, PPT, JP
YBhg Dato’ Yip Kam Chong,DSSA,AMS
YBhg Dato’ Mohd Karim bin Haji Abdullah Omar, DSSA,DPMT, SMS,SMT
(resigned on 12.6.2003)
In accordance with Article 84 of the Company's Articles of Association, YBhg Dato' Haji Ab. Halim bin Mohyiddin, DPMS and YBhg Dato’
Haji Sumadi bin Haji Ismail,DPTJ,JP and YB Senator Dato’ Ikhwan Salim bin Dato’ Sujak,DSIS,PJK retire at the forthcoming Annual General
Meeting and,being eligible, offer themselves for re-election.
DIRECTORS’ BENEFITS
During and at the end of the financial year, no arrangements subsisted to which the Company is a party, being arrangements with the object
or objects 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 other than the Company’s Employee Share Option Scheme (see Note 6 to the financial statements).
Since the end of the previous financial year, no Director has received or become entitled to receive any benefit (other than Directors’
remuneration as disclosed in Note 5 in the financial statements) by reason of a contract made by the Company or a related corporation
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 except that certain Directors received remuneration from the Company’s holding company.
DIRECTORS' INTEREST
According to the register of Directors’ shareholdings,particulars of interests of Directors who held office at the end of the financial year in
shares and options over shares in the Company and its related corporations are as follows:
At
1.1.2003
Number of ordinary shares of RM1.00 each
At
Acquired*
Disposed*
31.12.2003
0
0
0
84,801
29,600
15,999
0
(9,000 )
0
84,801
20,600
15,999
0
0
0
42,401
15,301
7,999
0
0
0
42,401
15,301
7,999
106,000
27,000
20,000
0
0
0
106,000
27,000
20,000
0
0
0
20,000
0
20,000
0
Kumpulan Hartanah Selangor Berhad (Subsidiar y company)
SAP Holdings Berhad (Subsidiar y company)
Brisdale Holdings Berhad (Subsidiar y company)
*
The Directors’ interest in shares of SAP Holdings Berhad and Brisdale Holdings Berhad was exchanged for shares in Kumpulan
Perangsang Selangor Berhad and Kumpulan Hartanah Selangor Berhad pursuant to the ratio stipulated in the Composite Scheme of Reconstruction.
DIRECTORS' INTEREST (CONTINUED)
Name of employees
YBhg Dato’ Haji Zabir
bin Bajuri
YBhg Datin Paduka
Juma'ah binti Moktar
Exercise
price
RM/share
As at
1.1.2003
Granted
Terminated
Exercised
As at
31.12.2003
1.62
0
1,275,000
0
0
1,275,000
1.62
0
1,260,000
0
0
1,260,000
Other than disclosed above, according to the register of Directors’ shareholdings,the Directors in office at the end of the financial year did
not hold any interest in shares,options over shares and debentures in the Company and its related corporations during the financial year.
STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS
Before the income statements and balance sheets were made out,the Directors took reasonable steps:
(a)
to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful
debts and satisfied themselves that all known bad debts had been written off and that adequate allowance had been made for doubtful debts;
and
(b)
to ensure that any current assets,other than debts,which were unlikely to realise in the ordinary course of business their values as
shown in the accounting records of the Group and the Company had been written down to an amount which they might be expected
so to realise.
At the date of this report,the Directors are not aware of any circumstances:
(a)
which would render the amounts written off for bad debts or the amount of the allowance for doubtful debts in the financial
statements of the Group and the Company inadequate to any substantial extent;or
(b)
which would render the values attributed to current assets in the financial statements of the Group and the Company misleading;
or
(c)
which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and the Company
misleading or inappropriate.
No contingent or other liability 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 or the Company to
meet their obligations when they fall due.
At the date of this report,there does not exist:
(a)
any charge on the assets of the Group or the Company which has arisen since the end of the financial year which secures the
liability of any other person;or
(b)
any contingent liability of the Group or the Company which has arisen since the end of the financial year.
At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or the financial
statements,which would render any amount stated in the financial statements misleading.
In the opinion of the Directors,
(a)
the results of the Group's and the Company's operations during the financial year were not substantially affected by any item,
transaction or event of a material and unusual nature;and except as disclosed in Note 35 and Note 39 to the financial statements;
and
(b)
there has not arisen in the interval between the end of the financial year and the date of this report any item,transaction or event
of a material and unusual nature likely to affect substantially the results of the operations of the Group or the Company for the
financial year in which this report is made.
77
HOLDING COMPANY AND ULTIMATE HOLDING CORPORATION
The Directors regard Kumpulan Darul Ehsan Berhad, a company incorporated in Malaysia as the Company’s holding company and Menteri
Besar Selangor (Pemerbadanan),a corporate body formed under Enactment No. 3 of the Menteri Besar Selangor (Incorporation),Enactment
1994 as the Company’s ultimate holding corporation.
AUDITORS
The auditors,PricewaterhouseCoopers,have expressed their willingness to continue in office.
Signed on behalf of the Board of Directors in accordance with their resolution dated 26 April 2004.
DATO' HAJI ZABIR BIN BAJURI,
DPMS,SSA,KMN,PPT
EXECUTIVE CHAIRMAN
DATIN PADUKA JUMA’AH BINTI MOKTAR,
DSSA,ASA,PJK
MANAGING DIRECTOR
STATEMENT BY DIRECTORS
PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965
We, Zabir bin Bajuri and Juma’ah binti Moktar, two of the Directors of Kumpulan Perangsang Selangor Berhad,state that,in the opinion of
the Directors,the financial statements set out on pages 81 to 128 are drawn up so as to give a true and fair view of the state of affairs of
the Group and the Company as at 31 December 2003 and of the results and cash flows of the Group and the Company for the financial
year ended on that date in accordance with the applicable approved accounting standards in Malaysia and the provisions of the Companies
Act,1965.
Signed on behalf of the Board of Directors in accordance with their resolution dated 26 April 2004.
DATO’ HAJI ZABIR BIN BAJURI,
DPMS,SSA,KMN,PPT
EXECUTIVE CHAIRMAN
DATIN PADUKA JUMA’AH BINTI MOKTAR,
DSSA,ASA,PJK
MANAGING DIRECTOR
Shah Alam
STATUTORY DECLARATION
PURSUANT TO SECTION 169(16) OF THE COMPANIES ACT, 1965
I, Wong Yien Kim,the officer primarily responsible for the financial management of Kumpulan Perangsang Selangor Berhad,do solemnly and
sincerely declare that the financial statements set out on pages 81 to 128 are, in my opinion, 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.
WONG YIEN KIM,SIS,PPT
Subscribed and solemnly declared by the abovenamed Wong Yien Kim at Kuala Lumpur in Malaysia on 26 April 2004,before me.
COMMISSIONER FOR OATHS
79
REPORT OF THE AUDITORS TO
THE MEMBERS OF
KUMPULAN PERANGSANG SELANGOR BERHAD (Company No. 23737 K)
We have audited the financial statements set out on pages 81 to 128.These financial statements are the responsibility of the Company’s
Directors.Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with approved auditing standards in Malaysia.Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining,on a test basis, evidence supporting the amounts and disclosures in the financial statements.An audit also includes assessing the
accounting principles used and significant estimates made by the Directors,as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
In our opinion:
(a)
the financial statements have been prepared in accordance with the provisions of the Companies Act,1965 and applicable approved
accounting standards in Malaysia so as to give a true and fair view of:
(i)
the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements;and
(ii)
the state of affairs of the Group and the Company as at 31 December 2003 and of the results and cash flows of the Group
and the Company for the financial year ended on that date;
and
(b)
the accounting and other records and the registers required by the Act to be kept by the Company and by the subsidiaries of which
we have acted as auditors have been properly kept in accordance with the provisions of the Act.
The name of the subsidiary company of which we have not acted as auditors is indicated in Note 40 to the financial statements. We have
considered the financial statements of this subsidiary company and the auditors’ report thereon.
We are satisfied that the financial statements 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 consolidated financial statements and we have received
satisfactory information and explanations required by us for those purposes.
The auditors’ reports on the financial statements of the subsidiaries were not subject to any qualification and did not include any comment
made under subsection (3) of Section 174 of the Act.
PRICEWATERHOUSECOOPERS
(No.AF:1146)
Chartered Accountants
THAYAPARAN A/L S.SANGARAPILLAI
(No. 2085/09/04 (J))
Partner of the firm
26 April 2004
INCOME STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2003
Group
Company
Note
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
REVENUE
3
237,634
175,822
12,374
19,324
COST OF SALES
4
(149,740 )
(119,784 )
GROSS PROFIT
87,894
56,038
12,374
15,251
OTHER OPERATING INCOME
20,921
21,651
267,322
43,092
SELLING AND DISTRIBUTION COSTS
(4,086 )
(3,222 )
ADMINISTRATIVE EXPENSES
(52,006 )
(43,720 )
(16,491 )
(15,764 )
OTHER OPERATING EXPENSES
(14,316 )
(14,559)
(2,222 )
(4,938 )
0
0
(399 )
PROFIT FROM OPERATIONS
5
38,407
16,188
FINANCE COST
7
(23,765 )
(21,602 )
SHARE OF RESULTS OF
JOINTLY CONTROLLED ENTITIES
25,000
16,062
0
0
SHARE OF RESULTS OF ASSOCIATES
67,316
72,307
0
0
PROFIT FROM ORDINARY ACTIVITIES
BEFORE TAXATION
106,958
82,955
245,650
25,187
(17,288 )
(19,901)
(9,495 )
(24,140 )
69,769
49,320
TAXATION
- Company and subsidiaries
- associates
260,983
(4,073)
(15,333 )
37,242
(12,055 )
8
PROFIT FROM ORDINARY ACTIVITIES
AFTER TAXATION
MINORITY INTEREST
(12,805 )
NET PROFIT FOR THE FINANCIAL YEAR
(4,654 )
56,964
44,666
EARNINGS PER SHARE (sen):
- basic
- diluted
9
9
14
N/A
13
N/A
DIVIDENDS PER SHARE (sen)
10
2
7
(7,749 )
0
(9,926)
0
237,901
15,261
0
0
237,901
15,261
2
7
81
BALANCE SHEETS
AS AT 31 DECEMBER 2003
Group
Company
Note
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
11
12
13
14
15
16
17
18
19
314,655
591,110
753
0
44,092
16,500
0
436,341
57,309
234,532
133,487
2,948
0
16,358
0
0
387,153
59,256
94,776
0
753
0
0
0
410,617
261,562
37,242
95,556
0
2,948
0
0
0
105,506
233,556
40,255
1,460,760
833,734
804,950
477,821
66,657
272,959
360,924
764
31,999
56,389
81,259
341,313
4,009
9,639
0
0
173,753
0
18
110
0
172,933
0
968
733,303
492,609
173,771
174,011
23
513,567
339,773
36,002
59,515
24
24
93,755
68,772
39,074
80,710
34,499
11,607
23,162
231
2,317
15,975
16,877
755
715,168
466,589
61,712
93,122
18,135
26,020
112,059
80,889
1,478,895
859,754
917,009
558,710
208,795
74,614
4,667
332
18,227
51,232
156,997
0
3,677
463
20,161
0
178,291
0
4,667
0
0
0
124,472
0
3,677
0
0
0
357,867
181,298
182,958
128,149
1,121,028
678,456
734,051
430,561
431,404
371,993
100,827
525,339
431,404
302,647
100,827
329,734
Shareholders’ equity
803,397
626,166
734,051
430,561
MINORITY INTEREST
317,631
52,290
0
0
1,121,028
678,456
734,051
430,561
NON CURRENT ASSETS
Property, plant and equipment
Land held for development
Deferred expenditure
Club development expenditure
Goodwill
Amount due from holding company
Subsidiaries
Associates
Other investments
CURRENT ASSETS
Inventories
Development properties
Receivables
Tax recoverable
Deposits,bank and cash balances
20
12
21
22
LESS:CURRENT LIABILITIES
Payables
Borrowings (interest bearing):
- bank overdrafts
- others
Taxation
NET CURRENT ASSETS
LESS:NON CURRENT LIABILITIES
Borrowings (interest bearing)
Long term payables
Provision for retirement benefits
Sinking fund for maintenance of golf course
Advance membership fees
Deferred taxation
24
25
26
27
28
29
CAPITAL AND RESERVES
Share capital
Reserves
30
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Issued and fully paid
ordinary shares
of RM1 each
Non-distributable
Revaluation
and other
reserves
(Note 31 )
RM'000
Number
of shares
(Note 30 )
'000
Nominal
value
(Note 30 )
RM'000
Share
premium
(Note 32 )
RM'000
100,827
0
100,827
0
12,621
0
9,198
0
100,827
100,827
12,621
0
0
0
0
At 31 December 2002
At 1 January 2003
- as previously reported
39
- prior year adjustment
Retained
earnings
RM'000
Total
RM'000
8,000
0
465,514
(4,496)
596,160
(4,496)
9,198
8,000
461,018
591,664
0
0
0
44,666
44,666
0
0
0
0
0
0
0
0
(5,082)
(5,082)
(5,082)
(5,082)
100,827
100,827
12,621
9,198
8,000
495,520
626,166
100,827
0
100,827
0
12,621
0
9,198
0
8,000
0
500,513
(4,993)
631,159
(4,993)
100,827
100,827
12,621
9,198
8,000
495,520
626,166
0
0
0
0
0
56,964
56,964
42,974
287,603
0
0
42,974
287,603
0
0
0
0
0
0
0
0
0
0
0
(255,790)
0
0
433,841
0
(365,419)
(2,833)
Revaluation surplus net of tax
- fair value adjustment on
earlier piecemeal acquisition
0
0
25,287
0
0
0
25,287
Capital reserve on previously
held subsidiaries
0
0
29,391
0
0
0
29,391
431,404
431,404
67,299
0
8,000
296,694
803,397
Note
At 1 January 2002:
- as previously reported
- prior year adjustment
-
39
as restated
Dividend for the financial
year ended:
- 31 December 2001
- 31 December 2002
-
10
as restated
Issue of shares
- Acquisition of subsidiaries
- Bonus issue
- Capital distribution
- Share issue expenses
At 31 December 2003
390,867
(31,813 )
(365,419 )
(2,833 )
General
reserves
RM'000
83
COMPANY STATEMENT OF CHANGES IN EQUITY
Issued and fully paid
ordinary shares
of RM1 each
Non-distributable
Number
of shares
(Note 30 )
'000
Nominal
value
(Note 30 )
RM'000
Retained
earnings
(Note 33 )
RM'000
Total
RM'000
100,827
100,827
9,198
8,000
307,439
425,464
0
0
0
0
15,261
15,261
0
0
0
0
0
0
0
0
(5,082)
(5,082)
(5,082 )
(5,082 )
At 31 December 2002
100,827
100,827
9,198
8,000
312,536
430,561
At 1 January 2003
100,827
100,827
9,198
8,000
312,536
430,561
0
0
0
0
237,901
237,901
Issue of shares
- Bonus issue
- Capital distribution
- Share issue expenses
42,974
287,603
0
0
42,974
287,603
0
0
0
0
0
0
0
(255,790)
0
0
433,841
0
(365,419 )
(2,833 )
At 31 December 2003
431,404
431,404
294,647
734,051
Note
At 1 January 2002
Dividend for the financial year ended
- 31 December 2001
- 31 December 2002
10
Share
premium
(Note 32 )
RM'000
Distributable
390,867
(31,813 )
(365,419 )
(2,833 )
0
General
reserves
RM'000
8,000
CONSOLIDATED CASH FLOW STATEMENT
Group
Note
2003
RM'000
2002
RM'000
56,964
44,666
23,765
(1,526)
9,671
1,075
1,352
1,755
6,612
(3,458)
11
(389)
(2,605)
(107)
1,742
57
(1,451)
0
(67,316)
(25,000)
12,805
37,189
21,602
(2,557 )
8,844
307
4,517
635
5,522
(2,782 )
0
(273 )
(1,165 )
9
0
0
0
(4,790 )
(72,307)
(16,062 )
4,654
33,635
51,146
24,455
(6,335 )
22,253
101,719
(177,719)
(19,587 )
4,030
(9,850 )
5,804
CASH FLOWS FROM OPERATING ACTIVITIES
Adjustments for:
Interest expense
Interest income
Depreciation on property, plant and equipment
Property, plant and equipment written off
Allowance for diminution in value of other investments
Amortisation of goodwill
Amortisation of advance membership fees
Club development expenditure written off
Dividend income from other investments
Gain on disposal of other investments
Gain/(loss) on disposal of property, plant and equipment
Liquidated ascertained damages
Loss on disposal of other investments
Writeback of allowance for diminution in value of other investments
Writeback of provision for a liability
Share of profits in associates
Share of profits in jointly controlled entities
Minority interest
Taxation
Changes in working capital:
Inventories
Receivables
Payables
Cash flow from operating activities
(8,936)
4,852
Tax paid
Proceeds from deferred expenditure
Retirement benefits paid
(6,179)
0
(765)
(7,248 )
(164 )
(435 )
(15,880 )
(2,995 )
Net cash flow from operating activities
85
CONSOLIDATED CASH FLOW STATEMENT
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2003 (continued)
Group
Note
2003
RM'000
2002
RM'000
(979)
389
3,642
1,526
(6,148)
(34,133)
(4,274)
25,000
9,618
306
50
218
4,114
2,557
(1,673 )
(42,000)
(12,624 )
31,050
8,603
2,320
(5,053)
(7,385 )
(5,082)
2,440
(23,765)
69,313
(20,487)
(5,082 )
0
(21,602 )
49,041
(1,532 )
22,419
20,825
1,486
10,445
(71,876)
(82,321 )
(70,390)
(71,876)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of subsidiaries
Dividends received from other investments
Dividends received from associates
Interest received
Purchase of property, plant and equipment
Investment in associates
Purchase of other investments
Income received from jointly controlled entities
Proceeds from disposal of other investments
Proceeds from disposal of property, plant and equipment
35
Net cash flow from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid
Proceeds from share issue to minority interest
Interest paid
Draw down of borrowings
Repayment of borrowings
Net cash flow from financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR
CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR
22
COMPANY CASH FLOW STATEMENT
Company
Note
2003
RM'000
2002
RM'000
CASH FLOWS FROM OPERATING ACTIVITIES
Adjustments for:
Interest expense
Interest income
Depreciation on property, plant and equipment
Property, plant and equipment written off
Writeback of allowance for diminution in value of other investments
Impairment of investment in a subsidiary company
Gain from disposal of subsidiaries
Gain from disposal of other investments
Gain from disposal of deferred expenditure
Gain on disposal of associates
Taxation
Operating profit before working capital changes
Changes in working capital:
Inventories
Receivables
Payables
Cash flow from operating activities
Tax paid
Tax refund
Deferred expenditure paid
Retirement benefits paid
Net cash flow from operating activities
237,901
15,261
15,333
(6,962)
2,852
91
1,352
(1,451)
891
1,755
(300)
(5,059)
(119,539)
(2,605)
(16,583)
(87,483)
26
7,749
12,055
(3,190)
2,883
2
3,767
0
0
635
(203 )
(5,713)
0
(1,196)
0
0
0
9,926
27,968
34,227
110
6,140
(26,343)
(2 )
(12,030)
5,054
7,875
27,249
(5,911)
1,141
(243)
(765)
(5,459)
0
(164 )
(435 )
2,097
21,191
87
COMPANY CASH FLOW STATEMENT
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2003 (continued)
Company
Note
2003
RM'000
2002
RM'000
Dividends received from subsidiaries
Interest income
Purchase of property, plant and equipment
Investment in a subsidiary company
Purchase of other investments
Proceeds from disposal of other investments
Payments of share listing expenses
300
0
3,642
0
(2,163)
(5,410)
(34,133 )
(4,274)
9,964
0
147
0
4,114
3,190
(453)
0
(42,000)
(502 )
2,498
0
Net cash flow from investing activities
(32,074)
(33,006)
Interest paid
Dividend paid
Draw down of borrowings
Repayment of borrowings
Repayment of hire purchase payables
(15,333 )
0
54,050
(16,667)
(210 )
(12,055)
(5,082)
42,000
0
(188)
Net cash flow from financing activities
21,840
24,675
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS
(8,137 )
12,860
(15,007)
(27,867)
(23,144 )
(15,007)
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR
CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR
22
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
31 DECEMBER 2003
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the
A BASIS OF PREPARATION
The financial statements of the Group and the Company have been prepared under the historical cost convention except as disclosed
in this summary of significant accounting policies.The financial statements comply with the applicable approved accounting standards in
Malaysia and the provisions of the Companies Act,1965. The new applicable accounting standards adopted in these financial statements
are as follows:
•
•
•
MASB 25 “Income Taxes”
MASB 27 “Borrowing Costs”
MASB 29 “Employee Benefits”
There are no changes in accounting policy that affect net profit or shareholders’ equity as the Group was already following the
recognition and measurement principles in those standards.
Comparatives have been adjusted to take into account the requirements of the new accounting standards which the Group has
implemented during the financial year.
The preparation of financial statements in conformity with the applicable approved accounting standards in Malaysia and the provisions
of the Companies Act, 1965 requires the Directors to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reported financial year. Actual results could differ from those estimates.
B
GROUP ACCOUNTING
(i)
Subsidiaries
Subsidiaries are those companies in which the Group has power to exercise control over the financial and operating policies so
as to obtain benefits from their activities.
Subsidiaries are consolidated from the date on which control is transferred to the Group and are no longer consolidated from the
date that control ceases.Subsidiaries are consolidated using the acquisition method of accounting.
Under the acquisition method of accounting, the results of subsidiaries acquired or disposed off are included from the date of
acquisition up to the date of disposal.At the date of acquisition,the fair values of the subsidiaries’ net assets are determined and
these values are reflected in the consolidated financial statements.The excess of the cost of acquisition over the fair value of the
Group’s share of subsidiaries’ identifiable net assets at the date of acquisition is reflected as goodwill on consolidation. See
accounting policy Note C on goodwill.
Intragroup transactions,balances and unrealised gains on transactions are eliminated;unrealised losses are also eliminated unless
these losses cannot be recovered. Where necessary, adjustments are made to the financial statements of subsidiaries to ensure
consistency of accounting policies with those of the Group.
Minority interest is measured at the minorities’ share of the post acquisition fair values of the identifiable assets and liabilities of
the acquiree. Separate disclosure is made of minority interest.
The gain or loss on disposal of a subsidiary is the difference between net disposal proceeds and the Group’s share of its net assets
together with any unamortised balance of goodwill and exchange differences that were not previously recognised in the
consolidated income statement.
(ii)
Associates
Investments in associates are accounted for in the consolidated financial statements by the equity method of accounting. Associates
are enterprises in which the Group exercises significant influence, but which it does not control.Significant influence is the power
to participate in the financial and operating policy decisions of the associates but not power to exercise control over those policies.
89
31 DECEMBER 2003 (continued)
B
GROUP ACCOUNTING (CONTINUED)
(ii)
Associates (continued)
Equity accounting involves recognising the Group’s share of the results of associates in the income statement and its share of
movements within reserves in reserves. The cumulative post acquisition movements are adjusted against the cost of the
investment and includes goodwill on acquisition (net of accumulated amortisation). Equity accounting is discontinued when the
carrying amount of the investment in an associate reaches zero, unless the Group has incurred obligations or made payments on
behalf of the associate.
Unrealised gains on transactions between the Group and the associates are eliminated to the extent of the Group’s interest in the
associates. Where necessary, in applying the equity method,adjustments are made to the financial statements of the associates to
ensure consistency of accounting policies with those of the Group.
(iii)
Jointly controlled entities
Jointly controlled entities are unincorporated entities over which there is contractually agreed sharing of control by the Group
with one or more parties. The Group’s interests in jointly controlled entities are accounted for in the consolidated financial
statements by the equity method of accounting.
Equity accounting involves recognising the Group’s share of the post acquisition results of jointly controlled entities in the income
statement and its share of post acquisition movements within reserves in reserves.The cumulative post acquisition movements are
adjusted against the cost of the investment and include goodwill on acquisition (net of accumulated amortisation). Equity
accounting is discontinued when the carrying amount of the investment in jointly controlled entities reaches zero, unless the
Group, has incurred obligation or made payments on behalf of the jointly controlled entities.
C GOODWILL
Goodwill or capital reserve arising on consolidation (negative goodwill) represents the excess or deficit respective of the cost of
acquisition of subsidiaries acquired over the fair value of the Group’s share of their identifiable net assets at the date of acquisition.
Goodwill (positive or negative) is amortised or credited to income statement over a period of ten years.At each balance sheet date,
the Group assesses whether there is any indication of impairment.If such indications exist,an analysis is performed to assess whether
the carrying amount of the asset is fully recoverable. A write down is made if the carrying amount exceeds the recoverable amount.
See accounting policy Note K on impairment of assets.
The gain or loss on disposal of an entity includes the carrying amount of goodwill relating to the entity disposed of.
D INVENTORIES
(i)
Completed properties
Completed properties for sale are stated at the lower of cost and net realisable value. Historical cost includes, where relevant,
costs of acquisition of land including all related costs incurred subsequent to the acquisition necessary to prepare the land for its
intended use, related development costs to project, direct building costs and other costs of bringing the inventories to their
present location and condition.
(ii)
Food and beverages
Inventories are stated at the lower of cost and net realisable value. Cost of food and beverages is determined on a weighted
average basis.
(iii)
Trading inventories
Trading inventories are stated at the lower of cost and net realisable value. Cost is determined on a weighted average basis or on
a first-in,first-out method,and comprises cost of purchase and other costs incurred in bringing the inventories to their present
location and condition.
Net realisable value is the estimated selling price in the ordinary course of business, less all costs to completion and selling expenses.
E
INVESTMENTS
Investments in subsidiaries,associated companies and jointly controlled entities are shown at cost. Where an indication of impairment
exists, the carrying amount of the investment is assessed and written down immediately to its recoverable amount. See accounting
policy Note K on impairment of assets.
Investments in other non-current investments are shown at cost and an allowance for diminution in value is made where, in the
opinion of the Directors, there is a decline other than temporary in the value of such investments. Where there has been a decline
other than temporary in the value of an investment,such a decline is recognised as an expense in the financial year in which the decline
is identified.
On disposal of an investment,the difference between net disposal proceeds and its carrying amount is charged or credited to the income
statement.
F
LAND HELD FOR DEVELOPMENT AND DEVELOPMENT PROPERTIES
Land and development expenditure are classified as development properties when significant development work has been undertaken
and is expected to be completed within the normal operating cycle. Development properties are stated at cost plus attributable profits
less foreseeable losses and progress billings. Cost includes cost of land, all direct building cost, and other related development
expenditure, including interest expenses incurred during the period of active development.
Land held for development consists of land held for future development where no significant development has been undertaken and is
stated at cost. Cost includes cost of land and attributable development expenditure. Such assets are classified as development
properties when significant development work has been undertaken and the development is expected to be completed within the
normal operating cycle.
G CONSTRUCTION CONTRACTS
When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are recognised by using
the stage of completion method.The stage of completion is measured by reference to the proportion that contract costs incurred for
work performed to date bear to the estimated total costs for the contract.
When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of
contract costs incurred that it is probable will be recoverable;contract costs are recognised when incurred.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense
immediately.
When costs incurred on construction contracts plus recognised profits (less recognised losses),exceeds progress billings,the balance is
shown as amounts due from customers on contracts. When progress billings exceed costs incurred plus recognised profits (less
recognised losses),the balance is shown as amounts due to customers on contracts.
H BORROWINGS
Borrowing costs incur red to finance the construction of property, plant and equipment are capitalised as part of the cost of the asset
during the period of time that is required to complete and prepare the asset for its intended use. Borrowing costs incurred to finance
property development activities and construction contracts are accounted for in a similar manner. All other borrowing costs are
expensed.
I
REVENUE RECOGNITION
(i)
Profits from property development consists of profit from the sale of properties both completed and uncompleted. Profit on
uncompleted properties contracted for is accrued appropriate to the stage of completion. The stage of completion of the property
development activity is measured by the proportion of costs incurred to date bear to the total estimated costs of that property
development.
91
I
REVENUE RECOGNITION (CONTINUED)
Development properties (continued)
(ii)
Profit from the sale of bungalow lots is recognised based on progress billings made in accordance with the terms of the sale and
purchase agreement.
(iii)
Profit from sale of land is recognised in full upon transfer of risk and rewards.
Construction contracts
(i)
Revenue from construction contracts is recognised based on the percentage of completion method.
(ii)
Revenue from landscaping contracts is recognised based on the percentage of completion method. All anticipated losses are fully
provided for.
Licence and membership fees
A fixed quantum of the golfing licence fees and the non-golfing membership fees which approximates 11% of the total fees is recognised
as initial annual fee in the year the golf course and club recreational facilities are ready for use or in the year the membership is
accepted in cases where the membership is accepted after the golf course and club recreational facilities are ready for use. The balance
is recognised on a fixed annualised amount on a straight line basis over the term of the membership.
Trading
Revenue represents the sale of industrial and building products and is recognised upon delivery of products and customer acceptance.
Hotel revenue
Revenue from food,beverages,sports and recreation are recognised upon the services being rendered.
Other revenues
Other revenues/income earned by the Group are recognised on the following bases:
J
(i)
Dividend income is recognised when the Group’s right to receive payment is established.
(ii)
Rental and interest income are recognised on an accrual basis.
(iii)
Income arising from the joint de velopment of land with a third party pursuant to an agreement is recognised on an accrual basis.
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
Freehold land is not depreciated as it has an infinite life.
Leasehold land and golf course are amortised in equal instalments over the period of the lease of 99 years.
Other property, plant and equipment are depreciated on a straight line basis to write off the cost of each asset over its estimated
useful life at the following annual rates:
%
Buildings
Golf course
Motor vehicles
Furniture, fittings and equipment and hotel renovations
2 to 4
1
20
10 to 50
J
PROPERTY, PLANT AND EQUIPMENT (CONTINUED)
Hotel operating equipment,which comprises glassware, chinaware, silverware, linen, crockery and uniforms are stated at cost and are
capitalised at the optimum level for normal operations. Any subsequent replacement of such equipment are written off to the income
statement in the year in which it is incurred.
At each balance sheet date, the Group assesses whether there is any indication of impairment. If such indications exist, an analysis is
performed to assess whether the carrying amount of the asset is fully recoverable.A write down is made if the carrying amount exceeds
the recoverable amount.See accounting policy Note K on impairment of assets.
Gains and losses on disposals are determined by comparing proceeds with carrying amount and are included in profit/(loss) from
operations.
Repairs and maintenance are charged to the income statement during the period in which they are incurred. The cost of major
renovations is included in the carrying amount of the asset when it is probable that future economic benefits in excess of the
originally assessed standard of performance of the existing asset will flow to the Group. Major renovations are depreciated over the
remaining useful life of the related asset.
K IMPAIRMENT OF ASSETS
Property, plant and equipment and other non-current assets,including intangible assets, are reviewed for impairment losses whenever
events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment loss is recognised for the
amount by which the carrying amount of the asset exceeds its recoverable amount.The recoverable amount is the higher of an asset’s
net selling price and value in use. For the purpose of assessing impairment, assets are grouped at the lowest level for which there is
separately identifiable cash flows.
The impairment loss is charged to the income statement and any subsequent increase in recoverable amount is recognised in the income
statement.
L
TRADE RECEIVABLES
Trade receivables are carried at anticipated realisable value. An estimate is made for doubtful debts based on a review of all
outstanding amounts at the financial year end.Known bad debts are written off and specific allowance is made for any debts considered
to be doubtful of collection.
M DEFERRED EXPENDITURE
Deferred expenditure consists of land premium and other land related costs.These expenditure would be expensed off upon disposal
of land.
N INCOME TAXES
Current tax expense is determined according to the tax laws in which the Group operates and include all taxes based upon the taxable
profits,and real property gains taxes payable on disposal of properties.
Deferred tax is recognised in full,using the liability method,on temporary differences arising between the amounts attributed to assets
and liabilities for tax purposes and their carrying amounts in the financial statements.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible
temporary differences or unused tax losses can be utilised.
Deferred tax is recognised on temporary differences arising on investments in subsidiaries,associates and joint ventures except where
the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse
in the foreseeable future.
Tax rates enacted or substantively enacted by the balance sheet date are used to determine deferred tax.
93
O EMPLOYEE BENEFITS
Short term employee benefits
Wages,salaries,paid annual leave, bonuses and non-monetary benefits are accrued in the financial year in which the associated services
are rendered by employees of the Group.
Post employment benefits
The Company established a defined benefit retirement scheme, the "Kumpulan Perangsang Selangor Berhad Retirement Scheme",which
is an approved defined benefits scheme under Section 150 of the Income Tax Act, 1967.A defined benefit retirement scheme is a
pension plan that defines an amount of pension benefit to be provided,usually as a function of one or more factors such as age, years
of service or compensation.
(i)
Defined contribution plans
The Group’s contributions to defined contribution plans are charged to the income statement in the period to which they relate .
Once the contributions have been paid,the Group has no further payment obligations.
(ii)
Defined benefit plans
The liability in respect of a defined benefit plan is the present value of the defined benefit obligation at the balance sheet date minus
the fair value of plan assets,together with adjustments for actuarial gains/losses and past service cost.The Group determines the
present value of the defined benefit obligation and the fair value of any plan assets with sufficient regularity such that the amounts
recognised in the financial statements do not differ materially from the amounts that would be determined at the balance sheet
date.
The defined benefit obligation, calculated using the projected unit credit method, is determined by independent actuaries,
considering estimated future cash outflows using market yields at balance sheet date of government securities which have currency
and terms to maturity approximating the terms of the related liability.
Plan assets in excess of the defined benefit obligation are subject to the asset limitation specified in MASB 29.
Actuarial gains and losses arise from experience adjustments and changes in actuarial assumptions.The amount of net actuarial
gains and losses recognised in the income statement is determined by the corridor method in accordance with MASB 29 and is
charged or credited to income when recognised.
P
LEASES
(i)
Finance leases – Hire purchase
Leases of property, plant and equipment where the Group assumes substantially all the benefits and risks of ownership are
classified as finance leases.
Finance leases are capitalised at the inception of the lease at the lower of the fair value of the leased property or the present value
of the minimum lease payments. Each lease payment is allocated between the liability and finance charges so as to achieve a
constant rate of interest on the balance outstanding.The corresponding rental obligations,net of finance charges,are included in
borrowings.The interest element of the finance charge is charged to income statement over the lease period.
Property, plant and equipment acquired under finance leases are depreciated over the estimated useful life of the asset and the lease
term.
(ii)
Operating leases
Leases of assets where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as
operating leases.Payments made under operating leases (net of any incentives received from the lessor) are charged to the income
statement on the straight line basis over the lease period.
Q SINKING FUND
In accordance to a trust deed executed by a subsidiary company, a sinking fund trust account is established and a minimum of 10% of
the monthly subscription payable by the members of Perangsang Templer Golf Club is remitted to the trust account on the last day of
each month.
The funds can only be utilised to cover the cost of periodic major repairs,maintenance, refurbishment and/or replacement of Perangsang
Templer Golf Club which cost more than RM25,000. Repairs, maintenance, refurbishment and/or replacement which cost less than
RM25,000 shall be borne by the subsidiary company unless otherwise agreed upon between the Trustee and the subsidiary company.
R ADVANCE MEMBERSHIP FEES
Advance membership fees which represents the non-refundable entrance fees received from the club members,are amortised in equal
instalments over a period of 10 to 15 years.
S
CASH AND CASH EQUIVALENTS
For the purpose of the cash flow statements,cash and cash equivalents comprise cash in hand, demand deposits, bank overdrafts and
short term,highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk
of changes in value .
T FINANCIAL INSTRUMENTS
(i)
Financial instruments recognised on the balance sheet
The particular recognition methods adopted for financial instruments recognised on the balance sheet are disclosed in individual
policy statements associated with each item.
(ii)
Fair value estimation for disclosure purposes
In assessing the fair value of financial instruments,the Group uses a variety of methods and makes assumptions that are based on
market conditions existing at each balance sheet date.The fair value of publicly traded securities is based on quoted market prices
at the balance sheet date. Quoted market prices of specific or similar instruments are used for long term debt.The fair value of
financial liabilities is estimated by discounting the future contractual cash flows at the current market interest rate available to the
Group for similar financial instruments.
The face values of financial assets and liabilities with a maturity period of less than one year are assumed to reflect their fair values.
U DIVIDENDS
Interim dividends on ordinary shares are recognised as liabilities when declared by the Directors and final dividends when approved by
shareholders.
V SEGMENT REPORTING
Segment reporting is presented for enhanced assessment of the Group’s risk and returns. Business segments provide products or
services that are subject to risk and returns that are different from those of other business segments.
Segment revenue, expense, assets and liabilities are those amounts resulting from the operating activities of a segment that are directly
attributable to the segment and the relevant portion that can be allocated on a reasonable basis to the segment. Segment r evenue,
expense, assets and liabilities are determined before intragroup balances and intragroup transactions are eliminated as part of the consolidation
process,except to the extent that such intragroup balances and transactions are between group enterprises,within a single segment.
95
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2003
1
GENERAL INFORMATION
The principal activity of the Company is investment holding.The principal activities of the subsidiaries are set out in Note 40 to the
The number of employees at the end of the financial year amounted to 964 (2002: 608) employees in the Group and 54 (2002: 197)
employees in the Company.
The immediate holding company of the Group is Kumpulan Darul Ehsan Berhad, a company incorporated in Malaysia, and the ultimate
holding corporation is Menteri Besar Selangor (Pemerbadanan),a corporate body formed under Enactment No.3 of the Menteri Besar
Selangor (Incorporation),Enactment 1994.
The Company is a limited liability compan y, incorporated and domiciled in Malaysia.
The address of the registered office and principal place of business of the Company is as follows:
16th Floor, Plaza Perangsang
Persiaran Perbandaran
40000 Shah Alam
Selangor Darul Ehsan
2
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Group financial risk management policy seeks to ensure that adequate financial resources are available for the development of the
Group’s businesses whilst managing its interest rate, foreign exchange, credit,liquidity and cash flow risks.The Group operates within
clearly defined guidelines that are approved by the Board and the Group’s policy is not to engage in speculative transactions.
(a)
Interest rate risk
The Group is exposed to interest rate risk in respect of its fixed deposits placed with financial institutions, rate changes on
interest bearing bank borrowings,long term loans and intercompany indebtedness.
The Group actively reviews its debt portfolio, taking into account the investment holding period and nature of its assets and strives
to obtain cheaper funding whenever possible.
(b)
Foreign exchange risk
The Group operates predominantly in Ringgit Malaysia and as such,is not exposed to foreign exchange risk.
(c)
Liquidity and cash flow risks
The Group practices prudent liquidity risk management to minimise the mismatch of financial assets and liabilities and to maintain
sufficient credit facilities for contingent funding requirement of working capital.
In addition, the Group strives to maintain available banking facilities at a reasonable level to its overall debt position.As far as
possible, the Group raises committed funding from both capital markets and financial institutions and prudently balances its
portfolio with some short term funding so as to achieve overall cost effectiveness.
(d)
Credit risk
Credit risks, or the risk of counter-parties defaulting, are controlled by the application of credit approvals,limits and monitoring
procedures. Credit risks are minimised and monitored via strictly limiting the Group’s associations to business partners with an
appropriate credit history.Trade receivables are monitored on an on-going basis via Group management reporting procedures.
3
REVENUE
Group
Rental income
Dividend income (gross)
- associates
- other quoted investment
Sales of development properties and land
Sale of goods
Hotel services rendered
Licence and membership fees of golf club
and recreational facilities income
Contract revenue
Fees from property management
Others
4
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
5,855
6,239
6,920
6,239
0
0
131,659
56,154
22,310
0
0
72,734
30,559
18,982
5,059
300
0
0
0
5,713
203
0
0
7,073
9,328
9,862
1,651
815
9,373
36,276
906
753
0
0
0
95
0
0
0
96
237,634
175,822
12,374
19,324
76,232
49,597
14,753
8,291
867
46,089
27,441
13,422
32,708
124
0
0
0
0
0
0
0
4,073
0
0
149,740
119,784
0
4,073
6,612
418
19
11
5,522
281
23
0
0
71
10
0
0
55
0
0
296
761
292
0
285
731
205
0
9,671
0
1,075
57
55
1,755
519
0
1,352
1,742
8,844
9
307
0
107
635
75
0
4,517
0
2,852
0
91
26
23
1,755
0
891
1,352
0
2,883
0
2
0
18
635
0
0
3,767
0
COST OF SALES
Development costs
Costs of inventories sold
Food,beverage and room services
Contract costs
Others
5
Company
PROFIT FROM OPERATIONS
Profit from operations is arrived at:
After charging:
Auditors' remuneration
Other non-audit fees
Club development expenditure written off
Directors’ remuneration:
- fees
- other emoluments
Property, plant and equipment:
- depreciation
- loss on disposal
- written off
Hire of plant and machiner y
Rent of land and buildings
Impairment of investment in a subsidiary company
97
5
PROFIT FROM OPERATIONS (CONTINUED)
Group
And crediting:
Dividend income (gross) from other investments
Interest income
Gain from disposal of property, plant and equipment
Gain on disposal:
- Other investments
- Investment in subsidiaries
- Investment in associates
- Deferred expenditure
Rental income
Write back of allowance for diminution in value of other investments
Amortisation of advance membership fees
Writeback of provision for a liability
Income arising from the joint de velopment of land
Income from jointly controlled entities
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
389
1,526
107
273
2,557
0
0
6,962
0
0
3,190
0
2,605
0
0
0
1,876
1,451
3,458
0
1,500
25,000
1,165
0
0
0
1,475
0
2,782
4,790
2,932
16,062
2,605
119,539
87,483
16,583
0
1,451
0
0
1,500
25,000
1,196
0
0
0
0
0
0
0
2,932
31,050
Included in share issue expenses charged against the share premium reserve of the Group and the Company is other non-audit fee
amounting to RM607,285 (2002:Nil).
Group
Company
Included in staff cost (including remuneration of executive directors)
recognised as an expense during the financial year is as follows:
- wages,salaries and bonus
- defined contribution retirement plan
- defined benefit retirement plan
6
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
24,276
2,699
1,755
21,959
2,483
635
5,138
632
1,755
6,506
758
635
DIRECTORS’ REMUNERATION
The Directors of the Company in office during the financial year were as follows:
YBhg Dato' Haji Zabir bin Bajuri,DPMS,SSA, KMN,PPT
YBhg Dato' Haji Azlan bin Hashim,DSSA,DSNS
YBhg Dato' Haji Ab. Halim bin Mohyiddin,DPMS
YBhg Datin Paduka Juma’ah binti Moktar, DSSA,ASA,PJK
YBhg Dato’ Mohd Karim bin Haji Abdullah Omar, DSSA,DPMT, SMS,SMT
YBhg Dato’ Haji Sumadi bin Haji Ismail,DPTJ,JP
YB Senator Dato’ Ikhwan Salim bin Dato’ Sujak,DSIS,PJK
YBhg Dato’ Dr. Haji Karim bin Haji Mansor, DPMS,ASA,PJK
YB Dato’ Ahmad Bhari bin Abd.Rahman,DSSA,PPT, JP
YBhg Dato’ Yip Kam Chong,DSSA,AMS
The aggregate amount of emoluments receivable by Directors of the Company during the financial year is disclosed in Note 5.
Directors options
Executive Directors of the Company have been granted options under the Employee Share Option Scheme on the same terms and
conditions as those offered to other employees of the Group (see Note 30(c)) as follows:
Grant
date
Expiry
date
12.8.2003
29.7.2008
Execise
price
RM/share
1.62
At
At
1.1.2003
Granted
Terminated
Exercised
31.12.2003
0
2,535,000
0
0
2,535,000
7
FINANCE COST
Group
Interest expense:
- holding company
- term loan
- bank overdraft and short term borrowings
- hire purchase
- others
8
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
0
15,598
6,629
109
1,429
1,612
10,024
9,801
87
78
0
13,471
1,752
51
59
0
9,716
2,267
72
0
23,765
21,602
15,333
12,055
TAXATION
Taxation charge for the financial year
In respect of the current financial year
Malaysian income tax
Deferred taxation (Note 29)
19,234
(182)
9,599
(149)
7,775
0
9,926
0
19,052
9,450
7,775
9,926
In respect of (over)/under accruals in prior
financial years
Malaysian income tax
(1,789)
45
(26)
0
Real property gains tax
17,263
25
9,495
0
7,749
0
9,926
0
Share of tax of associates
17,288
19,901
9,495
24,140
7,749
0
9,926
0
37,189
33,635
7,749
9,926
The explanation of the relationship between tax expense and profit from ordinary activities before tax is as follows:
Group
Company
2003
%
2002
%
2003
%
2002
%
Malaysian tax rate
28
28
28
28
Tax effects of:
- expenses not deductible for tax purposes
- income not subject to tax
- previously unrecognised tax losses
- movement in deferred tax assets not provided
- current year tax loss not recognised
Over accrual in prior years
14
(2)
(1)
(3)
1
(2)
20
(1 )
(8 )
1
1
0
1
(26)
0
0
0
0
10
(2)
3
0
0
0
Tax expense
35
41
3
39
Numerical reconciliation between the average
effective tax rate and the Malaysian tax rate .
Included in income tax expense of the Group and Company are tax savings amounting to RM5,075,176 (2002: 5,574,772) and
RM5,075,176 (2002:RM5,574,772) respectively from utilisation of current year tax losses.
Tax savings during the financial year due to the recognition of previously unrecognised tax losses amounted to RM799,000 (2002:RM6,201,000).
99
9
EARNINGS PER SHARE
Basic earnings per share of the Group is calculated by dividing the net profit for the financial year by the weighted average number of
ordinary shares in issue during the financial year.
Group
2003
2002
Net profit for the financial year (RM'000)
Weighted average number of ordinary shares in issue ('000)
Basic earnings per share (sen)
56,964
409,917
14
44,666
356,617
13
As mentioned in Note 30(c), the Company has outstanding options granted during the financial year pursuant to the Kumpulan
Perangsang Selangor Berhad Employee Share Option Scheme, to subscribe for 8,198,300 ordinary shares at RM1.62 each.In accordance
with the provisions laid down by Malaysian Accounting Standards Board No. 13,Earnings Per Share, share options are dilutive when they
are issued for no consideration or where a portion of the outstanding share options are deemed dilutive in situations where the
exercisable price of the options is below its fair value.
Since the exercisable price of the options is above the fair value of the Company’s shares for the current financial year, the option is
deemed non-dilutive. As such,the options have no dilution effect on the earnings per share of the Group for the current financial year.
10 DIVIDENDS
Dividends paid or declared for the financial year ended 31 December 2003 are as follows:
Gross
dividend
per share
sen
2003
Amount of
dividend net
of 28% tax
RM'000
Gross
dividend
per share
sen
2002
Amount of
dividend net
of 28% tax
RM'000
0
2
0
6,212
7
0
5,082
0
2
6,212
7
5,082
Interim dividends paid
Final dividends proposed
At the forthcoming Annual General Meeting,final gross dividends in respect of the financial year ended 31 December 2003 of 2 sen per
share (31.12.2002:Nil),less income tax of 28%,amounting to RM6,212,217 will be proposed for shareholders’ approval.
11 PROPERTY, PLANT AND EQUIPMENT
Furniture,
fittings and
equipment
and hotel
renovations
RM’000
Freehold
land
RM’000
Long
leasehold
land
RM’000
Net book value
At 1 January 2003
Acquisition of subsidiaries (Note 35)
Additions
Written off
Disposal
Depreciation charge for the year
At 31 December 2003
1,820
4,794
0
0
0
0
6,614
45,484
394
1,360
(143)
0
(642)
46,453
159,085
74,731
517
(404)
(199)
(3,933)
229,797
13,341
0
0
0
0
(157)
13,184
1,110
958
111
0
0
(617)
1,562
13,692
4,043
4,160
(528)
0
(4,322)
17,045
234,532
84,920
6,148
(1,075)
(199)
(9,671)
314,655
At 31 December 2003
Cost
Accumulated depreciation
Net book value
6,614
0
6,614
50,704
(4,251)
46,453
253,416
(23,619)
229,797
15,547
(2,363)
13,184
7,459
(5,897 )
1,562
58,919
(41,874)
17,045
392,659
(78,004 )
314,655
At 31 December 2002
Cost
Net book value
1,820
0
1,820
49,089
(3,605 )
45,484
173,132
(14,047 )
159,085
15,547
(2,206)
13,341
4,510
(3,400 )
1,110
45,611
(31,919)
13,692
289,709
(55,177)
234,532
Group
Buildings
RM’000
Golf course
RM’000
Motor
vehicles
RM’000
Total
RM’000
11 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)
Company
Long
leasehold
land
RM’000
Buildings
RM’000
Office
equipment,
furniture
and fittings
RM’000
Motor
vehicles
RM’000
Total
RM’000
Net book value
At 1 January 2003
Additions
Written off
Depreciation charge for the year
14,787
0
0
(175 )
75,585
238
0
(1,615 )
4,677
1,925
(91)
(797 )
507
0
0
(265 )
95,556
2,163
(91)
(2,852)
At 31 December 2003
14,612
74,208
5,714
242
94,776
At 31 December 2003
Cost
15,640
(1,028 )
80,762
(6,554)
12,212
(6,498 )
Net book value
14,612
74,208
5,714
At 31 December 2002
Cost
15,640
(853)
80,524
(4,939)
11,108
(6,431 )
Net book value
14,787
75,585
4,677
1,796
(1,554)
242
1,796
(1,289)
507
110,410
(15,634)
94,776
109,068
(13,512)
95,556
Included in the net book value is an amount of RM1,615,778 (2002:RM1,056,061) in respect of assets held under finance lease and hire
purchase agreements.
Certain long leasehold land and buildings of the Group and the Company with carrying value amounting to RM163,002,865 (2002:
RM158,382,722) and RM83,134,958 (2002:RM84,824,884) respectively, are pledged for credit facilities (Note 24).
12 LAND HELD FOR DEVELOPMENT AND DEVELOPMENT PROPERTIES
Current:
At cost:
Freehold land
Leasehold land
Development expenditure
Add:Attributable profits
Less:Progress billings
2003
RM'000
Group
2002
RM'000
23,735
312,561
1,424,208
0
33,789
349,211
1,760,504
311,036
(1,798,581)
383,000
43,608
(345,349)
272,959
81,259
60,000
247,622
283,488
0
118,410
15,077
591,110
133,487
Non current:
At cost:
Freehold land
Leasehold land
Development expenditure
Certain titles to the leasehold land of the Group will be transferred to a subsidiary company by the State Secretary Selangor
(Incorporated) and Yayasan Selangor, upon full settlement of the purchase consideration.
Certain development properties of the Group have been pledged for banking facilities granted to its subsidiaries (Note 24).
101
13 DEFERRED EXPENDITURE
Group
Land premium
Other land related costs
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
753
0
2,064
884
753
0
2,064
884
753
2,948
753
2,948
Deferred expenditure consists of land premium and other land related costs paid for four parcels of land.These deferred expenditure
would be charged to the income statement to determine the gain and loss upon disposal of the land.
14 CLUB DEVELOPMENT EXPENDITURE
Group
2003
RM'000
At 1 January
Write off during the year
2002
RM'000
0
11
(11)
0
0
0
0
0
At 31 December
15 GOODWILL
Goodwill on consolidation:
At 1 January
Transfer to capital reserve
16,358
35,213
(6,612)
(867)
21,922
(42 )
(5,522 )
0
At 31 December
44,092
16,358
81,651
(37,559)
47,305
(30,947 )
44,092
16,358
At 31 December
Cost
Less:Accumulated amortisation
16 AMOUNT DUE FROM HOLDING COMPANY
Amount due from holding company is as follows:
Group
Non current
Current
2003
RM'000
2002
RM'000
16,500
2,920
0
0
19,420
0
The amount is unsecured,interest free and fully repayable by 31 December 2008 in five instalments commenced in financial year 2003.
The fair value of the amount due from holding company at the balance sheet is approximately RM14,679,890.
17 SUBSIDIARIES
Company
2003
RM'000
2002
RM'000
Quoted shares in Malaysia
396,923
73,394
Unquoted shares at cost
Less:Accumulated impairment losses
78,576
(64,882 )
96,103
(63,991)
13,694
32,112
410,617
105,506
173,393
44,932
Market value
The Group's equity interests in the subsidiaries and their respective principal activities are shown in Note 40 to the financial statements.
18 ASSOCIATES
Group
Cost of investment:
Quoted shares
Unquoted shares
Less:Accumulated impairment losses
Share of post acquisition reser ves
Market value
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
47,886
47,886
47,886
47,886
232,763
(7,310 )
196,700
(9,710 )
220,986
(7,310 )
192,980
(7,310)
225,453
186,990
213,676
185,670
273,339
163,002
234,876
152,277
261,562
0
233,556
0
436,341
387,153
261,562
233,556
98,674
84,482
98,674
84,482
443,837
(7,496)
396,904
(9,751)
436,341
387,153
Represented by:
Share of net tangible assets
Negative goodwill,net
The Group's equity interests in the associates and their respective principal activities are shown in Note 41 to the financial statements.
103
19 OTHER INVESTMENTS
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
At cost:
Quoted shares:
Shares in corporations,in Malaysia
Unit trusts,in Malaysia
42,243
300
43,415
250
40,886
100
43,412
100
Less:Allowance for diminution in value
42,543
(4,957)
43,665
(3,760)
40,986
(4,244)
43,512
(3,757 )
37,586
39,905
36,742
39,755
17,484
(1,510)
40,738
(25,136)
10
(10)
15,974
15,602
0
0
Unquoted shares
Club memberships
Market values:
Quoted shares
Unit trusts
596
(596 )
3,869
(120)
3,869
(120)
500
0
500
0
3,749
3,749
500
500
57,309
59,256
37,242
40,255
33,645
375
26,049
260
32,423
125
26,048
104
34,020
26,309
32,548
26,152
Certain other investments of the Group and the Company have been pledged for credit facilities (Note 24).
The carrying value at the balance sheet date of these investments approximated their fair value .
It was not practicable within the constraints of timeliness and cost to estimate reliably the fair values of investments in unquoted
companies.
20 INVENTORIES
Group
At cost:
Trading inventories
Consumables
Food and beverages
At net realisable value:
Trading inventories
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
47,636
2,274
213
100
38,440
1,162
326
49
0
0
0
0
0
0
110
0
50,223
39,977
0
110
16,412
22
16,412
0
0
0
0
0
66,657
56,389
0
110
Certain inventories of the Group amounting to RM25,757,515 (2002: RM15,084,850) are pledged for credit facilities granted to its
subsidiaries (Note 24).
21 RECEIVABLES
Group
Company
2003
RM'000
2002
RM'000
307,099
(44,109)
211,897
(43,496)
29,545
(465)
34,521
(707)
262,990
168,401
29,080
33,814
Amounts due from customers on contract (Note 34)
Advances
Prepayments
Deposits
Other receivables
844
2,118
212
5,817
79,155
823
91
160
12,854
46,724
0
1,160
0
414
26,569
0
88
0
453
30,436
Less:Allowance for doubtful debts
88,146
(1,922)
60,652
(1,843)
28,143
(83)
30,977
(83)
86,224
58,809
28,060
30,894
0
0
0
0
142,393
(26,132)
67,507
(26,059)
0
0
116,261
41,448
Amount due from holding company
Amounts due from associates
Amounts due from other related companies
3,340
10,644
2,456
4,371
851
108,881
0
248
104
4,368
851
61,558
16,440
(4,730)
114,103
0
352
0
66,777
0
11,710
114,103
352
66,777
360,924
341,313
173,753
172,933
Trade receivables
Amounts due from subsidiaries
(i)
(ii)
2003
RM'000
2002
RM'000
Included under trade receivables of the Group is:
(a)
An amount of RM5.04 million, representing long outstanding receivables due from certain directors of an indirect
subsidiary company in respect of their purchases of certain completed units. No allowance for non-collection of the
outstanding receivables has been made in the financial statements of the Group as the Directors of the Group are
confident that the receivables are collectible .
(b)
An amount receivable from debtors amounting to RM54.8 million of a subsidiary company in relation to joint venture
development projects.
Included under other receivables of the Group is:
(a)
An amount of RM22,546,000 representing the balance of deposits of RM25,468,000 paid by an indirect subsidiary
company to a third party for the purchase of a piece of land.As a result of non-fulfilment of the conditions precedent,
the Sale and Purchase Agreement was rendered null and void. The subsidiary company then filed a legal suit against the
said third party, pursuant to the terms of the Sale and Purchase Agreement, to recover the full amount of RM25,468,000 paid.
In 2001, the High Court dismissed the subsidiary company’s claim and ordered an amount of RM7,546,800 to be forfeited
to the said third party, together with interest payment of RM415,147. However, the said third party disputed the said
judgement and appealed for the full amount of RM25,468,000 to be forfeited.The subsidiary company cross-appealed to
the Court of Appeal for the reversal of the said judgement and seeked full recovery of the amount paid of RM25,468,000.
105
21 RECEIVABLES (CONTINUED)
The subsidiary company subsequently applied and obtained an order from the High Court for the release of the sum of
RM19,320,673 previously paid into court.An amount of the principal portion of RM2,922,000 has been released to the
subsidiary company to date.
No allowance for the doubtful recovery of the deposit has been made in the financial statements of the Group in respect
of the amount forfeited of RM7,546,800 as the Directors of the Company, as advised by the subsidiary company’s
solicitors,are confident that the subsidiary company will succeed in its appeal.
The Group’s normal trade credit term ranges from 30 to 120 days (2002: 30 to 120 days). Other credit terms are assessed and
approved on a case by case basis.
Other than the above, the Group has no significant concentration of credit risk that may arise from exposures to a single debtor or
to groups of debtors and management believes that no additional credit risk beyond amounts provided for collection losses is
inherent in the Group’s receivables.
The amount due from holding company is unsecured, bears interest of Nil% (2002: 8.3%) per annum and has no fixed terms of
repayments.
The amounts due from other related companies and associates are unsecured,interest free and has no fixed terms of repayments
The amounts due from subsidiaries are unsecured,bear interest of 8% (2002:8%) per annum and have no fixed terms of repayment.
Receivables are all denominated in Ringgit Malaysia.
22 CASH AND CASH EQUIVALENTS
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
9,809
652
1,296
150
0
0
23
0
Cash and bank balances
10,461
17,015
1,446
7,650
0
18
23
945
Housing Development Accounts
Sinking Fund Account
27,476
4,459
64
9,096
543
0
18
0
0
968
0
0
Deposits,bank and cash balances
31,999
9,639
18
968
(93,755)
(8,634)
(80,710)
(805)
(23,162)
0
(15,975)
0
(70,390)
(71,876)
(23,144)
(15,007 )
Deposits with licensed banks
Deposits with licensed finance companies
Less:
Bank overdrafts (Note 24)
Fixed deposits pledged
Certain deposits with licensed banks of the Group amounting to RM8,634,000 (2002: RM805,000) have been pledged for bank
guarantee facilities taken by certain subsidiaries.
The carrying amounts of deposits,bank and cash balances of the Group and Company at the balance sheet date approximated their
fair values.
22 CASH AND CASH EQUIVALENTS (CONTINUED)
The currency exposure profile of deposits,bank and cash balances is as follows:
Group
- Ringgit Malaysia
- Others
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
31,999
0
9,587
52
18
0
968
0
31,999
9,639
18
968
The weighted average interest rates per annum of deposits that were effective at the end of financial year were as follows:
Group
Deposit with licensed banks
Deposit with licensed finance companies
Company
2003
%
2002
%
2003
%
2002
%
3.21
3.14
2.86
3.20
0
0
4.00
0
Deposits of the Group and Company have an average maturity of 36 days (2002:30 days).
The Housing Development Account held under Housing Development Account (opened and maintained under Section 7A of the
Housing Development (Control and Licensing) Act 1966).
23 PAYABLES
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
Trade payables
321,877
263,412
22,222
47,639
Amounts due to customers on contract (Note 34)
Accruals
Advances received
Other payables
4,267
23,075
14,892
29,344
109,080
4,003
19,453
853
0
47,656
0
2,209
0
0
21
0
1,638
41
0
1,719
180,658
71,965
2,230
3,398
7,828
0
1,928
1,276
4,175
0
0
221
3,784
5,581
2,176
9
4,165
3,635
0
678
11,032
4,396
11,550
8,478
513,567
339,773
36,002
59,515
Amount due to holding company
Amounts due to subsidiaries
Amounts due to associates
Amounts due to other related companies
Payables are all denominated in Ringgit Malaysia.
Amounts due to holding company, associates and other related companies are unsecured, interest free and have no fixed terms of
repayment.
Amounts due to subsidiaries are unsecured and bears interest at 5% (2002:Nil) per annum and have no fixed terms of repayment.
The normal trade credit terms granted to the Group ranges from 30 to 90 days (2002:30 to 90 days).
107
24 BORROWINGS (INTEREST BEARING)
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
Bank overdrafts (Note 22)
93,755
80,710
23,162
15,975
Bankers acceptance
Term loans
Revolving credit
Al-Bai Bithaman Ajil financing
Hire purchase payables
7,211
32,791
21,730
6,434
606
5,409
14,466
10,220
4,041
363
0
0
0
0
231
0
16,667
0
0
210
68,772
34,499
231
16,877
162,527
115,209
23,393
32,852
207,990
805
156,243
754
178,083
208
124,033
439
208,795
156,997
178,291
124,472
Total
371,322
272,206
201,684
157,324
Secured:
Bank overdrafts
Term loans
Revolving credits
Al-Bai Bithaman Ajil financing
31,665
240,781
21,730
6,434
1,411
19,971
170,709
0
4,041
1,117
23,162
178,083
0
0
439
15,475
140,700
0
0
649
302,021
195,838
201,684
156,824
62,090
0
7,211
60,739
10,220
5,409
0
0
0
500
0
0
69,301
76,368
0
500
371,322
272,206
201,684
157,324
Current:
Non-current:
Term loans
Unsecured:
Bank overdrafts
Revolving credits
Bankers acceptance
Total
24 BORROWINGS (INTEREST BEARING) (CONTINUED)
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
748
927
445
850
260
216
260
477
Future finance charges
1,675
(264)
1,295
(178)
476
(37)
737
(88)
Less:Current
1,411
(606)
1,117
(363)
439
(231)
649
(210)
Non current
805
754
208
439
Hire purchase payables:
Payable within one year
Payable between one to five years
Weighted average effective interest rates per annum were as follows:
Group
Bank overdrafts
Bankers acceptance
Term loans
Revolving credits
Company
2003
%
2002
%
2003
%
2002
%
7.58
6.43
7.63
5.35
5.72
7.27
6.42
7.91
6.80
6.10
6.84
0
7.50
0
5.25
7.22
0
7.90
0
5.25
Estimated fair values
The carrying amounts of bank overdrafts,bankers acceptance, term loans and revolving credits,at the balance sheet date approximated
their fair values.The fair values of other borrowings at the balance sheet date are as follows:
Group
Company
Carrying
amount
RM'000
Fair
value
RM'000
Carrying
amount
RM'000
Fair
value
RM'000
805
758
208
198
754
699
439
405
2003
2002
109
24 BORROWINGS (INTEREST BEARING) (CONTINUED)
(i)
The bank overdraft facilities are secured by way of:
(a)
(b)
(c)
(d)
(e)
(ii)
certain quoted shares of the Group and the Company (Note 19),
certain buildings (Note 11) and development properties (Note 12) of the Group ,
certain inventories of the Group (Note 20),
corporate guarantees from the Group and the Company;and
a negative pledge over a subsidiary company’s present and future fixed and floating assets.
Short term financing obtained by a subsidiary company under the Islamic principle of Al-Bai Bithaman Ajil amounted to
RM6,434,100 (2002:RM4,041,000).
The short term financing is secured by the following:
(a)
(b)
First fixed legal charge over certain development properties of the Group (Note 12).
Corporate guarantee by a subsidiary company.
(iii)
Revolving credits are secured by way of first legal charge over certain portion of the development properties of the Group
(Note 12).
(iv)
Included in term loans are the following:
(a)
A private debt securities raised by a subsidiary company consisting of RM46 million (2002: RMNil) in Murabahah Notes
Issuance Facility ("MUNIF") from a licensed financial institution.The MUNIF was drawn down in 5 tranches and was issued
at a discounted value of RM54.2 million based on a three-monthly maturity period.The difference between the nominal value
and the discounted value of the Notes are taken up in the financial statements as interest expense over the period of the
facility of three months.The MUNIF facility is available for a period of 36 months.
The MUNIF is secured by the following:
(i) Memorandum of charges over all operating bank accounts of the immediate holding company of the subsidiary in which
proceeds of sales are deposited,
(ii) Deed of assignment of all sales and end-financing proceeds from the residential development project of the Group,
(iii) Debenture creating a fixed and floating charge over certain assets of the said subsidiary;and
(iv) Third party Al-Kafalah corporate guarantee by the subsidiary company.
(b)
The other term loans are secured over certain long leasehold land and buildings (Note 11) and inventories (Note 20) of
the Group.
25 LONG TERM PAYABLES
Group
Trade payables
Amount due to holding company
2003
RM'000
2002
RM'000
9,084
65,530
0
0
74,614
0
The amount due to holding company is unsecured,interest free and is not repayable within 12 months.
The fair values of the amount due to holding company and trade payables are not disclosed as it is not practicable within the constraint
of costs and timeliness to determine its fair value with sufficient reliability.
26 PROVISION FOR RETIREMENT BENEFITS
Group and Company
2003
RM'000
2002
RM'000
At 1 January
Charged to income statement
Payments made during the year
3,677
1,755
(765)
3,477
635
(435 )
At 31 December
4,667
3,677
(a)
Defined contribution plans
Group companies incorporated in Malaysia contribute to the Employees Provident Fund, the national defined contribution plan.
Once the contributions have been paid,the Group has no further payment obligations.
(b)
Defined benefit plans of the Group
The Group operates final salary defined benefit plans for its employees, the assets of which are held in a separate trustee administered funds.The latest actuarial valuations of the plan were carried out on 15 March 2004.
The amount recognised in the Company’s balance sheet may be analysed as follows:
Group and Company
2003
RM'000
2002
RM'000
Present value of funded obligations
Fair value of plan assets
5,301
(624)
3,960
(283 )
Liability in the balance sheet
4,677
3,677
The expense recognised in the company’s income statement may be analysed as follows:
Group and Company
2003
RM'000
2002
RM'000
Current service cost
Interest cost
Expected return on plan assets
Actuarial losses recognised
Transitional liability recognised
Curtailment or settlement loss recognised
197
216
(8)
1,375
(57)
32
635
0
0
0
0
0
Total,included in staff costs (Note 5)
1,755
635
The actual return on plan assets was RM8,253 (2002:RM8,678).
111
26 PROVISION FOR RETIREMENT BENEFITS (CONTINUED)
The principal actuarial assumptions used in respect of the Company’s defined benefit plan were as follows:
Group and Company
Discount rate
Expected return on plan assets
Expected rate of salary increases
2003
%
2002
%
7.00
3.00
5.00
7.00
3.50
5.00
27 SINKING FUND FOR MAINTENANCE OF GOLF COURSE
Group
2003
RM'000
2002
RM'000
Sinking fund for maintenance of golf course:
At 1 January
Transfer to income statement
At 31 December
463
(131)
569
(106 )
332
463
28 ADVANCE MEMBERSHIP FEES
At 1 January
New memberships
Net termination of memberships
Amortisation
20,161
1,857
58
(391)
(3,458)
24,501
0
246
(1,804 )
(2,782 )
At 31 December
18,227
20,161
Advance membership fees received are in respect of golfing licence fees and non-golfing membership fees.
29 DEFERRED TAXATION
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax
liabilities and when the deferred taxes relate to the same tax authority.The following amounts,determined after appropriate offsetting,
are shown in the balance sheet:
Group
Company
2003
RM'000
Deferred tax liabilities:
- subject to income tax
(51,232)
2003
RM'000
2002
RM'000
0
0
0
(149)
0
0
At start of financial year
Credited to income statement (Note 8):
- property, plant and equipment
182
(51,414)
149
0
0
0
0
0
At end of financial year
(51,232)
0
0
0
0
2002
RM'000
29 DEFERRED TAXATION (CONTINUED)
Group
2003
RM'000
2002
RM'000
Company
2003
RM'000
2002
RM'000
Subject to income tax
Deferred tax assets (before offsetting)
Others
Offsetting
730
(730)
0
505
(505)
0
403
(403)
0
261
(261 )
0
Deferred tax liabilities (before offsetting)
Others
(9,371)
(41,590)
(1,001)
(505)
0
0
(403)
0
0
(261)
0
0
Offsetting
(51,962)
730
(505)
505
(403)
403
(261 )
261
(51,232)
0
0
0
The amount of deductible temporary differences,unused tax losses and unrecognised capital allowances (both of which have no expiry
date) for which no deferred tax asset is recognised in the balance sheet are as follows:
Group
Deductible temporary differences
Unused tax losses
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
112,094
211,013
61,853
85,206
20,774
0
19,522
0
30 SHARE CAPITAL
Group and Company
Authorised:
Ordinary shares of RM1.00 each
Created during the financial year
Issued and fully paid:
Ordinary shares of RM1.00 each
Issued during the financial year
- Bonus issue
2003
RM'000
2002
RM'000
150,000
850,000
150,000
0
1,000,000
150,000
100,827
100,827
42,974
287,603
0
0
431,404
100,827
113
30 SHARE CAPITAL (CONTINUED)
(a)
Shares issued for acquisition of subsidiaries
Pursuant to the Composite Scheme of Reconstruction, a total of 42,974,662 ordinary shares of RM1.00 each was issued at
RM10.10 per share during the financial year for the acquisition of the following subsidiaries:
(i)
Acquisition of SAP Holdings Berhad (“SAP”)
The Company allotted and issued 8,734,402 new ordinary shares of RM1.00 each at an issue price of RM10.10 per share
amounting to RM88,176,290 as partial discharge of purchase consideration for acquisition of SAP. These shares ranked
pari passu in all respects with the existing ordinary shares of the Company.
(ii)
Acquisition of Brisdale Holdings Berhad (“Brisdale”)
The Company allotted and issued 18,000,002 new ordinary shares of RM1.00 each at an issue price of RM10.10 per share
amounting to RM181,715,189 as partial discharge of purchase consideration for acquisition of Brisdale. These shares ranked
pari passu in all respects with the existing ordinary shares of the Company.
(iii)
Acquisition of Central Spectrum (M) Sdn.Bhd.(“CSSB”)
The Company allotted and issued 7,105,110 and 9,135,148 new ordinary shares of RM1.00 each to Kumpulan Darul Ehsan
Berhad and Perbadanan Kemajuan Negeri Selangor respectively at an issue price of RM10.10 per share amounting to
RM163,950,078 as partial discharge of purchase consideration for acquisition of CSSB. These shares ranked pari passu in all
respects with the existing ordinary shares of the Company.
(b)
Bonus issue
Pursuant to the Composite Scheme of Reconstruction, a total of 287,602,640 new ordinary shares of RM1.00 each was issued
as bonus issue on the basis of two (2) new KPS shares for every one (1) share held after the Merger Scheme during the financial year.
(c)
Employee Share Option Scheme
The Company implemented an Employee Share Option Scheme (“ESOS”) which came into effect for a period of 10 years. The
ESOS is governed by the by-laws which were approved by the shareholders on 10 February 2003.
The main features of the ESOS are as follows:
•
The total number of ordinary shares to be issued by the Company under the ESOS shall not exceed 10% of the total
issued and paid-up ordinary shares of the Company, such that not more than 50% of the shares available under the ESOS
is allocated,in aggregate, to Directors and senior management.
•
Not more than 10% of the shares available under the ESOS is allocated to any individual Director or employee who,
either singly or collectively through his/her associates, holds 20% or more in the issued and paid-up capital of the
Company.
•
Only staff and executive directors of the Company, Hydrovest Sdn. Bhd. and Perangsang Dagang Sdn. Bhd. are eligible to
participate in the scheme . Executive directors are those involved in the day-to-day management and on the payroll of
the Company.
•
The option price under the ESOS is the average of the mean market quotation of the shares of the Company as
quoted in the Daily Official List issued by Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange), for the five
market days preceding the offer date, or the par value of the shares of the Company of RM1,whichever is the higher.
•
The options granted are exercisable from the date of grant and have a contractual option term of five years.
•
Options granted under the ESOS carry no dividend or voting rights. Upon exercise of the options, shares issued rank
pari passu in all respects with existing ordinary shares of the Company.
30 SHARE CAPITAL (CONTINUED)
(c)
Employee Share Option Scheme (continued)
Set out below are details of options over the ordinary shares of the Company granted under the ESOS:
Grant date
Expiry
date
12.8.2003
29.7.2008
Exercise
price
RM/share
At
At
1.1.2003
Granted
Terminated
Exercised
31.12.2003
1.62
0
8,198,300
0
0
8,198,300
No option was exercised during the financial year.
31 REVALUATION AND OTHER RESERVES
Revaluation
reserve
Fair value
adjustment
on earlier
piecemeal
acquisition
RM’000
Capital
reserve
Fair value
adjustment on
previously held
subsidiaries
RM’000
Total
RM’000
0
12,621
12,621
At 1 January
Arising from the Composite Scheme of Reconstruction
0
25,287
12,621
29,391
12,621
54,678
At 31 December
25,287
42,012
67,299
Group
2002
At 1 January/31 December
2003
32 SHARE PREMIUM
Share premium relates to issue of ordinary shares above par value:
Group
2003
RM'000
At 1 January
- issue of 42,974,662 new ordinary shares of RM1.00 each at an issue price of RM10.10
- share issue expenses
- bonus issue
- capital distribution
At 31 December
9,198
390,867
(2,833)
(31,813)
(365,419)
0
2002
RM'000
9,198
0
0
0
0
9,198
Capital repayment and distribution by the Company to all its shareholders after the Original Merger of up to 215,701,980 new KHSB
Shares on the basis of three (3) new KHSB Shares for every two (2) Shares in the Company held after the Original Merger; collectively
referred as the Company’s distribution pursuant to the Composite Scheme of Reconstruction.
115
33 RETAINED EARNINGS
There are sufficient tax credits under Section 108(6) of the Income Tax Act, 1967 to frank approximately RM124,350,000 (2002:
RM106,141,000) of the retained earnings of the Company if paid out as dividends.
In addition the Company has tax exempt accounts available to frank tax exempt dividends amounting to approximately RM68,189,000
(2002:RM68,187,000).
The extent of the retained earnings not covered at 31 December amounted to RM102,108,000 (2002:RM138,208,000).
34 AMOUNTS DUE FROM /(TO) CUSTOMERS ON CONTRACTS
Group
Construction costs incurred to date
Add:Attributable profits
Less: Foreseeable losses
Less:Progress billings
Represented by:
Amounts due from customers on contracts (Note 21)
Amounts due to customers on contracts (Note 23)
2003
RM'000
2002
RM'000
1,156,328
45,389
(43,688)
746,722
27,204
(35,740)
1,158,029
(1,161,452)
738,186
(741,366)
(3,423)
(3,180)
844
(4,267)
823
(4,003)
(3,423)
(3,180)
Advances received on contracts,included in payables of the Group
812
0
Retentions on contracts,included in receivables of the Group
262
262
35 SIGNIFICANT EVENTS/SUMMARY OF EFFECTS ON ACQUISITION OF SUBSIDIARIES
Following the implementation of the Composite Scheme of Reconstruction taking effect on 11 June 2003, the Company through its
subsidiary, KHSB,acquired the following:
(i)
100% equity interest in Brisdale comprising 120,000,002 Brisdale Shares by KHSB from all the shareholders of Brisdale for a total
purchase consideration of RM181,715,189;
(ii)
76.67% equity interest in CSSB comprising 4,030,507 CSSB Shares by KHSB from KDEB, PKNS and the Company for a total
purchase consideration of RM235,678,149.
On 1 January 2003,the Company acquired through its subsidiary, Hydrovest Sdn. Bhd.(formerly known as PWM (M) Sdn. Bhd.), 60%
interest in Aqua-Flo Sdn.Bhd. for a total purchase consideration of RM3,141,000 discharged by cash.
On 1 May 2003, the Company acquired 70% interest in Darul Ehsan Bina Sdn. Bhd. (formerly known as BDR Sdn. Bhd.) for a total
purchase consideration of RM1,750,000 discharged by cash.
35 SIGNIFICANT EVENTS/SUMMARY OF EFFECTS ON ACQUISITION OF SUBSIDIARIES (CONTINUED)
The effect of the acquisition of the subsidiaries on the financial results of the Group for the financial year is shown below:
2003
RM’000
Revenue
Expenses excluding finance cost and tax (including amortisation of goodwill on acquisition)
65,726
(60,233)
Profit from operations
Finance cost
5,493
(1,859)
Profit before taxation
Taxation
3,634
(2,609)
Profit after tax
Minority interest
1,025
(585)
Net profit attributable to shareholders
440
The effect of the acquisition of subsidiaries on the Group’s financial position at the financial year end was as follows:
2003
RM’000
Non-current assets (including goodwill on acquisition of subsidiaries)
Current assets
Current liabilities
Non-current liabilities
614,000
321,300
(445,999)
(72,089)
Net assets
Minority interest
417,212
(210,888)
Group’s share of net assets
206,324
117
Details of the net assets acquired, goodwill and cash flow arising from the acquisition of the subsidiaries were as follows:
Particulars
At date of
acquisition
RM’000
Property, plant and equipment (Note 11)
Land held for development
Club development expenditure (Note 14)
Other investments
Inventories
Receivables
Deposits,cash and bank balances
Payables
Borrowings (interest bearing)
Taxation
Advance membership fees (Note 28)
Deferred taxation (Note 29)
84,920
491,012
11
3,435
3,933
178,360
137,830
14,650
(419,947 )
(40,355 )
(19,604 )
(1,857)
(51,414)
Fair value of total assets
Revaluation reserve on interest previously held in associated company
Reserve recognised in previously held associated company
Minority interests
380,974
(25,287)
(30,094)
(210,303)
Fair value of net assets acquired
Goodwill (Note 15)
115,290
35,213
Cost of acquisition
Discharged by issuance of shares of RM1.00 each by the Company
at an issue price of RM10.10
150,503
Discharged by cash
Less:Cash and cash equivalents of subsidiaries acquired
Cash outflow of the Group on acquisition
(145,612)
4,891
(3,912)
979
In the previous financial year, the Company acquired 60% equity interest in Hydrovest Sdn.Bhd.(formerly known as PWM (M) Sdn.Bhd.)
from the holding company, Kumpulan Darul Ehsan Berhad (‘KDEB’) for a purchase consideration of RM175,000,settled by contra against
amount owing by KDEB.
The effect of this on the financial results of the Group from 1 August 2002 to 31 December 2002 was as follows:
2002
RM’000
Revenue
Expenses excluding finance cost and tax (including amortisation of goodwill on acquisition)
265
(182 )
Profit from operations
Finance cost
83
(7 )
Profit before taxation
Taxation
76
(26 )
Net profit attributable to shareholders
50
The effect of the acquisition on the financial position of the Group at 31 December 2002 was as follows:
Non current asset (including negative goodwill on acquisition)
Current assets
Current liabilities
129
609
(367 )
Net assets
Minority interest
371
(165)
Group’s share of net assets
206
Details of net assets acquired,negative goodwill and cash flow arising from the acquisition were as follows:
At date of
acquisition
RM’000
Receivables
Cash and bank balances
Hire purchase liabilities
Payables
Taxation
Minority interest
194
486
50
(127 )
(176 )
(65 )
(145)
Net assets acquired
Negative goodwill (Note 15)
217
(42 )
Purchase consideration
175
Purchase consideration paid
Add:Cash and cash equivalents of subsidiary acquired
0
50
Cash inflow on acquisition
50
119
36 SIGNIFICANT RELATED PARTY DISCLOSURES
In addition to related party disclosures mentioned elsewhere in the financial statements,set out below are other significant related party
transactions. The significant related party transactions were undertaken in the normal course of business and are on terms and
conditions agreed with the respective related parties.
The related parties and their relationship with the Group are as follows:
Related companies
Relationship
Kumpulan Darul Ehsan Berhad
Global Systems Integration Sdn.Bhd.
Application Service Provider Enterprise Sdn.Bhd.
Tabung Amanah Saham Selangor Berhad
Taliworks Corporation Berhad
Konsortium ABASS Sdn.Bhd.
Holding company
Related company
Related company
Related company
Associated company
Associated company
The significant related party transactions during the financial year are as follows:
Group
Interest on loan received from the holding company
Interest on loan paid by a subsidiary company to holding company
Sale of goods to an associated company
Rental received from an associated company
Rental received from related companies
Management fees received from the holding company
Computer application services aid to a related company
2003
RM'000
2002
RM'000
0
0
5,485
160
261
24
96
2,341
1,612
0
165
137
24
96
37 CAPITAL COMMITMENTS
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
1,828
5,616
0
2,215
0
857
0
0
Capital expenditure in respect of property,
plant and equipment:
Approved but not contracted for
Approved and contracted for
38 CONTINGENT LIABILITIES
Group
Company
2003
RM'000
2002
RM'000
2003
RM'000
2002
RM'000
Guarantees to secure banking and other credit
facilities of associated company amounting to
RM31,400,000 (2002:RM31,400,000) of which
the amounts drawn down are
5,860
5,860
5,860
5,860
Credit facilities granted to third party secured
by land belonging to a subsidiary
18,731
17,000
0
0
37,600
1,150
0
1,150
0
1,150
0
1,150
250
2,951
250
774
0
2,951
0
774
5,447
5,447
0
0
76,200
60,913
0
0
27,038
85,894
0
79,579
0
0
0
0
Secured:
Unsecured:
Corporate guarantee in respect of credit
facilities on behalf of subsidiaries
Claim on outstanding tax
Letter of guarantee given to a supplier from
a licensed financial institution
Performance guarantees to third parties
Guarantees to banks for end financing loans
given to house buyers
Liquidated ascertained damages in respect
of delays encountered on delivery of projects (a)
Liquidated ascertained damages claims
made by house buyers
Other claims filed against the Group (b)
(a)
The liquidated ascertained damages are in respect of interruption in the delivery of certain projects. However, the Directors of
the subsidiary company are entering into active negotiations with the respective parties to mitigate the possibility of realisation of the
damages.
Based on the progress of current negotiations,the Directors are of the opinion that it is not probable that an outflow of resources
embodying economic benefits will be required to settle the obligations.
(b)
In respect of the claims,the subsidiary companies of the Company have not provided for the above claims as the Directors of the
subsidiary companies are of the opinion,after consultation with their legal advisers,that no loss will arise from the claims and that
the possibility of crystallisation of the liabilities is remote.
39 PRIOR YEAR ADJUSTMENT
During the financial year, the Directors of an associated company of the Group have revised their basis for determining the stages of
completion for development properties. In previous years, the stage of completion was recognised by sub-phases. The associated
company has now changed the basis for determining the stages of completion for development properties to a total phase basis.The
effects of the change have been adjusted retrospectively, as follows:
Effect of
As previously
change in profit
reported
recognition
As restated
RM’000
RM’000
RM’000
At 1 January 2002
Retained earnings
465,514
(4,496)
461,018
Year ended 31 December 2002
Share of results of associated companies
Taxation
72,997
(24,333)
At 31 December 2002
Retained earnings
392,146
500,513
(690)
193
72,307
(24,140)
(4,993)
(4,993)
387,153
495,520
121
40 SUBSIDIARIES
Details of the subsidiaries which are incorporated in Malaysia are as follows:
Effective equity interest
Name of company
Principal activity
2003
%
2002
%
Property development
52
66.7
Trading and consultancy services
100
100
Dormant
100
100
Ceased operations in 1995
100
100
Aluminium fabrication
100
100
In liquidation
70
70
Ceased operations in 1991
58
58
Construction works and granite
quarrying (under official assignee)
100
100
Under official assignee
86
86
Perangsang Segemal Sdn.Bhd.
In liquidation
51
51
Perangsang Alphasoft Sdn.Bhd.
In liquidation
100
100
Selangor Frits & Glazes Sdn.Bhd.
In liquidation
51
51
Trading in industrial and building products
55
55
Management and consultancy services
60
60
Construction and general
civil engineering work
70
0
Dormant
100
100
Tin mining (ceased operation in 1993)
65
65
Hotelier
52
100
Central Spectrum Sdn.Bhd.
40
0
SAP Holdings Berhad
52
61.5
Brisdale Holdings Berhad
and investment holding
52
0
Investment holding,building
materials trading,general
contracting and waterworks
52
61.5
Kumpulan Hartanah Selangor Berhad
Perangsang Consultancy & Engineering Sdn.Bhd.
Selangor Win Container Corporation (M) Sdn.Bhd.
Perangsang Sports Industries Sdn.Bhd.
Perangsang Aluminium Sdn.Bhd.
Perangsang Metal Selangor Sdn.Bhd.
Permatech Industries Sdn.Bhd.
Selangor Construction Sdn.Bhd.
Selangor Tiles Sdn.Bhd.
Perangsang Dagang Sdn.Bhd.
Hydrovest Sdn.Bhd.(formerly known
as PWM (M) Sdn.Bhd.)
Darul Ehsan Bina Sdn.Bhd.(formerly
known as BDR Sdn.Bhd.)
+
Selangor Amal Holdings Sdn.Bhd.
Kuala Langat Mining Sdn.Bhd.
Held by Kumpulan Hartanah Selangor Berhad:
Perangsang Hotel and Properties Sdn.Bhd.
Perangsang International Sdn.Bhd.
40 SUBSIDIARIES (CONTINUED)
Name of company
Principal activity
2003
%
2002
%
Property management
52
61.5
Project management and
consultancy services
36
43.1
Property development and
property management
52
61.5
Development of tourist
resort and property
52
61.5
Development and management
of golf club and tourist resorts
49
58.4
Property development,landscaping
and golf maintenance work
49
58.4
property management
32
61.5
Provision of equestrian facility
52
61.5
of a holiday resort
52
61.5
52
61.5
Property development and construction
52
61.5
Property and hotel development
52
61.5
SAP (Johor) Development Sdn.Bhd.
52
61.5
SAP Rawang Development Sdn.Bhd.
52
61.5
SAP Air Hitam Properties Sdn.Bhd.
52
61.5
SAP Sepang Development Sdn.Bhd.
52
61.5
Air Terentang Corporation Sdn.Bhd.
52
61.5
Megatown Corporation Sdn.Bhd.
52
61.5
Quarry operator
52
61.5
52
61.5
Plantation operator
52
61.5
52
61.5
Provision of hospitality
services and management
52
61.5
SAP Urus Harta Sdn.Bhd.
SAP Project Consultant Sdn.Bhd.
SAP Ulu Yam Sdn.Bhd.
SAP Leisure and Resort Sdn. Bhd.
Templer Park Golf & Resort Berhad
Perangsang Templer Landscape Sdn.Bhd.
Templer Park Development Sdn.Bhd.
Templer Park Equestrian Centre Sdn.Bhd.
SAP Langkawi Development Sdn.Bhd.
Sungai Lang Development Sdn.Bhd.
SPC Brisdale Sdn.Bhd.
SAP Heritage Hotels & Properties Sdn.Bhd.
Nusantara Irama Sdn.Bhd.
SAP Sungai Pusu Development Sdn.Bhd.
SAP Bengkulen Plantation Sdn.Bhd.
Alamshahcorp Sdn.Bhd.
Central Holdings Management Services Sdn.Bhd.
123
40 SUBSIDIARIES (CONTINUED)
Name of company
Principal activity
2003
%
2002
%
Provision of educational
and training services
42
49.2
Provision of parking services
27
31.4
52
61.5
Provision of educational services
52
61.5
Trading of building materials
52
61.5
General trading
52
61.5
project management
52
0
52
0
Dormant
52
0
Hotel management services
52
0
52
0
Investment holding
52
0
Property investment and
hotel operator
52
0
Club operator
52
0
34
0
Property investment and
development
52
0
Project management
52
0
Brisdale Property Management Sdn.Bhd.
Property management
52
0
Brisdale Rasa Development Sdn.Bhd.
52
0
Dormant
52
0
Trading in chemical products
36
0
Akademi Kecemerlangan SAP Sdn.Bhd.
SUH-Imej Parking Sdn.Bhd.
Motif Azim Sdn.Bhd.
SAP Education Sdn.Bhd.
PISB Trading Sdn.Bhd.
P. I.Land Sdn.Bhd.
Pembangunan Brisdale Sdn.Bhd.
Brisdale Resources Sdn.Bhd.
Konsortium Lebuhraya Beruntung
Genting Sdn.Bhd.
Brisdale Assets Sdn.Bhd.
Brisdale Housing Sdn.Bhd.
Brisdale Technology Sdn.Bhd.
Brisdale International Hotel Sdn.Bhd.
Kelab Rekreasi Brisdale Berhad
Brisdale Development Sdn.Bhd.
Brisdale Brooklands Development Sdn.Bhd.
Brisdale Project Management Sdn.Bhd.
Lindung Malam Sdn.Bhd.
Held under Hydrovest Sdn.Bhd.
(formerly known as PWM (M) Sdn. Bhd.)
Aqua-Flo Sdn.Bhd.
+
Malaysian incorporated subsidiary audited by another firm of auditors.
41 ASSOCIATES
Details of associates which are incorporated in Malaysia are as follows:
Name of company
Principal activity
2003
%
2002
%
Developer of marine industrial park
30
30
Investment holding
20
20
Granite quarrying
50
50
Dormant
30
30
Manager and operator of
water treatment plants
40
40
Manufacture and distribution
of tiles (in liquidation)
25
25
Taliworks Corporation Berhad
Investment holding,provision of
project and management services
20
20
Sistem Penyuraian Trafik KL Barat
Holdings Sdn.Bhd.(SPRINT)
Investment holding and provision
of management services
20
20
Tin Mining (ceased operation in 1995)
0
30
Investment holding
30
30
Operating,maintenance, construction and
commissioning of water treatment plant
and facilities and undertake contract works
relating to the water industry activities
30
30
0
23
Club management
26
49
of a golf and country club
21
25
Development of logistic park
10
12
Consultancy services and construction
works for water supply, reticulation
and central coverage system
10
12
Selangor Marine Industrial Park Sdn.Bhd.
Hua Joo Seng Enterprise Berhad
Perkuat Kuari Sdn.Bhd.
Intan Perangsang Sdn.Bhd.
Perangsang Water Management Sdn.Bhd.
MRCB Ceramics Sdn.Bhd.
Perangsang Pasifik Sdn.Bhd.
Syarikat Pengeluar Air Selangor
Holdings Berhad
Konsortium ABASS Sdn.Bhd.
Central Spectrum Sdn.Bhd.
Held by Kumpulan Hartanah Selangor Berhad
KDE Recreation Berhad
Held by SAP Holdings Berhad
Ulu Yam Golf and Country Club Sdn.Bhd.
Beruntung Transport City Sdn.Bhd.
Waste Water Management Sdn.Bhd.
125
41 ASSOCIATES (CONTINUED)
Name of company
Principal activity
2003
%
2002
%
Gemapantas Sdn.Bhd.
Investment holding
26
0
Kelina Sdn.Bhd.
Investment holding
21
0
Dormant
13
0
16
0
Provision of common waste
water treatment plant facilities and
other development projects
16
0
Held by Brisdale Holdings Berhad
Awan Putih Sdn.Bhd.
Teamcoat Brisdale JV Sdn.Bhd.
Held by Central Spectrum Sdn. Bhd.
PMB Spectrum Sdn.Bhd.
42 SEGMENTAL INFORMATION
The Group adopts business segment analysis as its primary reporting format. The Group does not have a secondary reporting format
as the Group operates only in Malaysia.
Segment revenues and expenses are those directly attributable to the segments and include any joint revenue and expenses where a
reasonable basis of allocation exists. Segment assets include all assets used by a segment and consist principally of property, plant and
equipment,net of accumulated depreciation,development properties, real property assets, receivables,inventories and deposits,cash and
bank balances.
Segment assets and liabilities do not include income tax assets and liabilities.
The Group is organised on into seven main business segments:
•
Investment holding
Investment holding
•
Property development and management
Property development and property management
•
Infrastructure and utilities
Water treatment and related water industry activities and
highway operator
•
General contract work
Contract work
•
Hospitality
Hotel services
•
Golf club and recreation facilities
Golf resort services and club operator
•
Trading
Trading in industrial building and chemical products
Other operations of the Group mainly comprise management and consultancy services which are not a sufficient size to be reported
separately.
42 SEGMENTAL INFORMATION (CONTINUED)
2003
Investment
holding
RM’000
Property
development
and
management
RM’000
General
contract
work
RM’000
5,855
133,310
9,862
REVENUE
External sales
RESULTS
Profit/(loss) from operations
Finance cost
Share of results of associates
Share of results of jointly
control entities
Profit/(loss) before taxation
6,292
(15,289 )
0
38,097
(7,092)
2,069
25,000
0
16,003
33,074
(469)
(161)
0
0
(630)
Golf club
and
Infrarecreation structure
Trading Hospitality
facilities and utilities
RM’000
RM’000
RM’000
RM’000
56,154
1,795
(674)
7,220
0
8,341
22,310
9,328
(1,309)
(22)
0
(4,447)
(508)
(989)
0
(1,331)
0
(5,944)
0
0
0
59,016
0
59,016
Others
RM’000
Consolidated
RM’000
815
237,634
(1,552)
(19)
0
0
(1,571)
38,407
(23,765)
67,316
25,000
106,958
Taxation
(37,189)
Minority interest
69,769
(12,805)
Profit for the financial year
OTHER INFORMATION
Segment assets
Unallocated assets
56,964
186,480
409,437
1,335,643
25,480
9,098
0
46,273
0
85,459
0
90,332
1,424
0
0
3,673
0
Total assets
Segment liabilities
Unallocated liabilities
2,194,063
233,743
552,230
22,427
26,472
59,603
84,325
0
3,929
Total liabilities
Capital expenditure
Depreciation and amortisation
1,756,958
436,341
764
982,729
90,306
1,073,035
2,161
5,542
61,574
4,884
25
5
1,904
432
25,404
4,290
0
1,130
0
0
0
0
91,068
16,283
127
42 SEGMENTAL INFORMATION (CONTINUED)
2002
Investment
holding
RM’000
Property
development
and
management
RM’000
General
contract
w ork
RM’000
6,239
73,640
36,276
(2,544)
(12,055)
0
21,027
(8,779 )
636
REVENUE
External sales
RESULTS
(Loss)/profit from operations
Finance cost
Share of results of associates
Share of results of jointly
control entities
Profit/(loss) before taxation
670
(159 )
0
Golf club
and
Infrarecreation structure
Trading Hospitality
facilities and utilities
RM’000
RM’000
RM’000
RM’000
30,559
782
(592 )
9,214
16,062
0
0
0
1,463
12,884
511
9,404
18,982
9,373
(2,359)
(9 )
0
863
0
(1,200)
0
(2,368)
0
(337 )
0
0
0
63,657
0
63,657
Others
RM’000
Consolidated
RM’000
753
175,822
(2,251)
(8)
0
0
(2,259)
16,188
(21,602)
72,307
16,062
82,955
(33,635)
Taxation
Minority interest
49,320
(4,654)
Profit for the financial year
44,666
OTHER INFORMATION
Segment assets
Unallocated assets
261,091
385,729
444,431
1,424
34,260
0
21,712
0
87,651
0
76,639
0
0
0
9,397
0
Total assets
Segment liabilities
Unallocated liabilities
1,326,343
(213,990 )
(278,802 )
(39,180 )
(16,926 )
(8,606)
(71,905 )
0
(6,871)
(636,280)
(11,607 )
(647,887)
Total liabilities
Capital expenditure
Depreciation and amortisation
935,181
387,153
4,009
220
4,730
221
4,508
3
153
75
233
778
4,319
376
395
0
0
0
28
1,673
14,366
43 APPROVAL OF FINANCIAL STATEMENTS
The financial statements have been approved for issue in accordance with a resolution of the Board of Directors on 26 April 2004.
ANALISA PEGANGAN SAHAM PADA 13 APRIL 2004
ANALYSIS OF SHAREHOLDINGS AS AT 13 APRIL 2004
A.
Modal saham dibenar
Authorised share capital
Modal saham diba yar dan diterbitkan
Issued and paid-up share capital
Kelas Saham
Class of shares
B.
: RM1,000,000,000.00
: RM431,403,960
: Saham Biasa RM1.00 Sesaham
Ordinary Shares of RM1.00 Each
ANALISA MENURUT SAIZ PEGANGAN
ANAL Y SIS BY SIZE OF SHAREHOLDINGS
SAIZ
PEGANGAN
SIZE OF
SHAREHOLDINGS
BILANGAN
PEMEGANG SAHAM
NO. OF
SHAREHOLDERS
Kurang dari 100 / Less than 100
100-1,000
1,001-10,000
10,001-100,000
100,001 ke kurang dari 5%
100,001 to less than 5%
5% dan ke atas / 5% and above
JUMLAH / TOTAL
C.
% PEMEGANG
SAHAM
% OF
SHAREHOLDERS
BILANGAN SAHAM
YANG DIPEGANG
NO. OF
SHARES HELD
% PEGANGAN
% OF
SHAREHOLDINGS
187
2.69
12,479
0.00
3,903
2,316
416
56.17
33.33
5.99
2,429,603
8,123,636
13,105,930
0.56
1.88
3.04
122
1.76
136,898,774
31.74
4
0.06
270,833,538
62.78
6,948.00
100.00
431,403,960
100.00
SENARAI PEMEGANG SAHAM UTAMA (5% DAN KE
ATAS)
LIST OF SUBSTANTIAL SHAREHOLDERS (5% AND ABOVE)
NO
NO
NAMA
NAME
PEGANGAN SAHAM
SHAREHOLDING
1
2
Amanah Raya Nominees (Tempatan) Sdn Bhd
A/C for Skim Amanah Saham Bumiputera
Employees Provident Fund Board
Perbadanan Kemajuan Negeri Selangor
228,314,194
52.92
48,606,000
31,669,345
27,559,794
11.27
7.34
6.39
3
4
%
%
D.
SENARAI TIGA PULUH (30) PEMEGANG SAHAM TERBESAR
LIST OF THIRTY (30) LARGEST SHAREHOLDERS
NO NAMA
NO NAME
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A/C for Skim Amanah Saham Bumiputera
Alliance Group Nominees (Tempatan) Sdn Bhd
A/C for Kumpulan Darul Ehsan Berhad
Perbadanan Kemajuan Negeri Selangor
Bank Kerjasama Rakyat Malaysia Berhad
Employees Provident Fund Board
Bumiputra-Commerce Nominees (Tempatan) Sdn Bhd
Tahan Insurance Malaysia Berhad
Cartaban Nominees (Tempatan) Sdn Bhd
A/C for Employees Provident Fund Board - JF404
Tabung Warisan Negeri Selangor
Malaysia Nominees (Tempatan) Sdn Bhd
A/C for Great Eastern Life Assurance (Malaysia) Berhad ( Par 1)
A/C for Amanah Smallcap Fund Berhad
RHB Nominees (Tempatan) Sdn.Bhd
A/C for Kumpulan Wang Simpanan Pekerja
Mayban Nominees (Tempatan) Sdn Bhd
A/C for Kumpulan Wang Simpanan Pekerja
Noor Azman @ Noor Hizam b. Mohd Nurdin
Permodalan Nasional Berhad
Cartaban Nominees (Tempatan) Sdn Bhd
A/C for Employees Provident Fund Board - JF458
CIMB Nominees (Tempatan) Sdn Bhd
LGB Holdings Sdn Bhd
HSBC Nominees (Tempatan) Sdn Bhd
A/C for Amanah Saham Sarawak
PRB Nominees(Tempatan) Sdn Bhd
A/C for Ruber Industry Smallholders Development Authority
Kenanga Nominees (Tempatan) Sdn Bhd
A/C for Rampai Baiduri-Jaya Sdn.Bhd (Vibrant Omega)
AMMB Nominees (Tempatan) Sdn Bhd
A/C for HLG Penny Stock Fund (5/4-3)
RHB Nominees (Tempatan) Sdn Bhd
A/C for Kumpulan Wang Simpanan Pekerja (2)
A/C for AUTB Progress Fund
Mayban Nominees (Tempatan) Sdn Bhd
A/C for Mayban Life Assurance Berhad (PAR Fund)
HLG Nominee (Tempatan) Sdn Bhd
A/C for Pertubuhan Keselamatan Sosial (2050)
A/C for AUTB Dana Bakti
Mal Monte Sdn Bhd
A/C for Great Eastern Life Assurance (Malaysia) Berhad (LGF)
PEGANGAN SAHAM
SHAREHOLDINGS
%
%
149,354,144
34.62
48,606,000
11.27
45,400,000
27,559,794
10.52
6.39
17,751,550
15,427,945
4.11
3.58
13,507,200
6,500,000
3.13
1.51
4,494,900
4,412,000
1.04
1.02
4,254,100
0.99
4,144,600
0.96
4,130,000
0.96
3,870,700
3,652,000
3,308,933
0.90
0.85
0.77
2,313,800
0.54
2,301,300
2,250,000
0.53
0.52
1,955,001
0.45
1,900,000
0.44
1,734,237
0.40
1,434,800
0.33
1,432,000
0.33
1,427,300
0.33
1,221,100
0.28
1,200,000
0.28
1,041,100
1,010,000
0.24
0.23
1,000,000
0.23
131
E.
SENARAI PEGANGAN SAHAM PARA PENGARAH
LIST OF DIRECTOR'S SHAREHOLDINGS
NO
NO
NAMA
NAME
PEGANGAN SAHAM
SHAREHOLDINGS
1
2
3
4
5
6
7
8
9
Dato' Haji Zabir bin Bajuri
Dato' Haji Azlan bin Hashim
Datin Paduka Juma'ah binti Moktar
Dato' Haji Ab. Halim bin Mohyiddin
Dato' Haji Sumadi bin Haji Ismail
Dato' Ikhwan Salim bin Dato' Sujak
Dato' Dr. Haji Karim bin Haji Mansor
Dato' Ahmad Bhari bin Abd Rahman
Dato' Yip Kam Chong
84,801
20,600
-
0.02
0.00
-
%
%
SENARAI HARTANAH KUMPULAN
LIST OF GROUP PROPERTIES
Lokasi
Location
Hakmilik
Title
Keluasan Tanah
Land Area
Tempoh Pegangan/
Tamat Pegangan
Tenure/Lease expiry
Kegunaan
Semasa
Existing Use
Nilai Buku Bersih /
Kos Tanah pada
31/12/03 (RM’000)
Net Book Value /
Land Cost as at
31/12/03 (RM’000)
Usia Bangunan
Approximate
Age of Building
(Tahun/Years)
1.KUMPULAN PERANGSANG SELANGOR BERHAD
Bandar Banting
Tambahan,
Kuala Langat
H.S (D) 8187/
PT 7890
2.6 ekar
2.6 acres
99 tahun/ 2099
99 years/ 2099
Kilang disewakan
Factory being
rented out
3,355
15
Hulu Kelang,
Gombak
H.S (M) 2615/
PT 7680
40,530 kp
40,530 sq ft
99 tahun/2086
99 years/2086
Kilang disewakan
Factory being
rented out
1,901
20
Batang Kali,
Hulu Selangor
Lot 3277
Under Grant
24222
PH 22/B6
1,763 kp
1,763 sq ft
Pegangan Bebas
Freehold
Apartmen
Apartment
197
19
Shah Alam,
Selangor
H.S (D) 92260/
PT 0006
108,360 kp
108,360 sq ft
99 tahun/ 2086
99 years/ 2086
Pejabat & Hotel
Office & Hotel
83,135
16
Tanjong Tuan
Port Dickson
Lot 5627
1,099 kp
1,099 sq ft
99 tahun/2081
99 years/2081
Apartmen
Apartment
232
18
2.PERANGSANG D
AGANG SDN BHD
Taman Sri Muda,
Shah Alam
Plot 33
41,818 kp
41,818 sq ft
Pegangan Bebas
Freehold
Disewakan
Pejabat 2 tingkat
dengan kilang setingkat
Rented out
2 storey office
with single storey factory
RM3,857
7
Petaling Jaya
Lot 407
QT ( R ) 6948
42,903 kp
42,903 sq ft
99 tahun/ 2072
99 years/ 2072
Gudang dengan
pejabat 3 tingkat
Warehouse with
3 storey office
RM5,997
31
133
DIREKTORI KORPORAT
CORPORATE DIRECTORY
ALAMAT BERDAFTAR DANALAMAT PERNIAGAAN KPSSERTA ANAK-ANAKSYARIKAT
REGISTEREDANDBUSINESSADDRESSESOFKPSANDSUBSIDIARY
COMPANIES
Nama Syarikat
Name of Company
Alamat Berdaftar
Registered Address
Alamat Perniagaan
Business Address
(Company No. 23737-K)
40000 Shah Alam
Tel:03-5510 3999
Fax:03-5510 9977
40000 Shah Alam
Tel:03-5510 3999
Fax:03-5510 9977
Kumpulan Hartanah Selangor Berhad
(Company No. 559747-W)
Lot 1A,Level 1A,Plaza Perangsang
40000 Shah Alam
Tel:03-5522 3888
Fax:03-5510 5188
Lot 1A,Level 1A,Plaza Perangsang
40000 Shah Alam
Tel:03-5522 3888
Fax:03-5510 5188
Perangsang Dagang Sdn Bhd
(Company No. 212449-W)
40000 Shah Alam
Tel:03-5510 3999
Fax:03-5510 9977
Lot 4,Jalan 241,Section 51A
46100 Petaling Jaya
Tel:03-7875 1488
Fax:03-7873 6370
Hydrovest Sdn Bhd
(Company No. 482724-D)
(formerly known as PWM
(Malaysia) Sdn Bhd
40000 Shah Alam
Tel:03-5510 3999
Fax:03-5510 9977
40000 Shah Alam
Tel:03-5510 3999
Fax:03-5512 2973
Darul Ehsan Bina Sdn Bhd
(Company No. 220465-H)
(formerly known as BDR Sdn Bhd)
40000 Shah Alam
Tel: 03-5510 3999
Fax:03-5510 9977
No. 13-3,Pusat Perdagangan
UMNO Shah Alam
Persiaran Damai,Seksyen 11
40100 Shah Alam
Tel: 03-5511 0513
Fax:03-5511 0514
BORANG PROKSI
(23737-K) (Diperbadankan di Malaysia)
Borang Proksi untuk Mesyuarat Agung Tahunan ke 27
Jumlah Saham Biasa Dipegang
Saya/Kami
NAME PENUH DENGAN HURUF BESAR
yang beralamat di
ALAMAT
sebagai ahli/ahli-ahli Kumpulan Perangsang Selangor Berhad,dengan ini melantik Pengerusi
Mesyuarat atau
NAMA PENUH
yang beralamat di
ALAMAT
atau sebagai penggantinya
NAMA PENUH
yang beralamat di
ALAMAT
sebagai proksi saya/kami untuk menghadiri dan mengundi bagi pihak saya/kami di Mesyuarat Agung Tahunan Ke Dua
Puluh Tujuh yang akan diadakan pada hari Selasa,15 Jun 2004,jam 3.00 petang dan pada sebarang penangguhannya.
Proksi saya/Kami akan mengundi sepertimana yang ditandakan di bawah:
Resolusi
1
2
3
4
5
6
7
8
Menyokong
Menentang
(Sila tanda dengan "X" pada tempat yang disediakan cara tuan ingin mengundi,jika tidak,proksi akan mengundi atau
tidak mengundi mengikut budicaranya)
Tandatangan
Tarikh
Haribulan
2004
NOTA-NOTA:
1. Setiap pemegang saham berhak melantik seorang proksi atau jika sebuah syarikat, berhak melantik wakil untuk
menghadiri dan mengundi bagi pihaknya. Proksi tersebut tidak semestinya pemegang saham syarikat.
2. Borang Proksi mesti ditandatangani oleh pelantik atau peguam yang telah diberi kuasa secara bertulis atau
sekiranya pelantik adalah sebuah syarikat, mestilah dengan memeterai atau ditandatangani oleh pegawai atau
peguam yang diberi kuasa. Di dalam hal pegangan bersama,tandatangan pemegang pertama adalah mencukupi.
3. Sekiranya Borang Proksi dikembalikan tanpa menjelaskan bagaimana proksi harus mengundi, Proksi akan
mengundi menurut cara yang difikirkan sesuai.
4. Jika tiada nama terdapat di dalam ruang pada borang proksi anda, Pengerusi Mesyuarat akan bertindak sebagai
proksi anda.
5. Borang Proksi mestilah dihantar ke Kumpulan Perangsang Selangor Berhad,Tingkat 16,Plaza Perangsang,Persiaran
Perbandaran,40000 Shah Alam,tidak kurang dari 48 jam sebelum Mesyuarat ditetapkan untuk atau pada sebarang
penangguhannya, atau dalam hal pengundian, tidak kurang dari 24 jam sebelum masa yang ditetapkan untuk
mengundi.
135
PR OXY FORM
(23737-K) (Incorporated in Malaysia)
Proxy Form for the 27th Annual General Meeting
No of Ordinary Shares Held
I/We
FULL NAME IN CAPITAL LETTERS
of
ADDRESS
being a member/members of Kumpulan Perangsang Selangor Berhad,hereby appoint the Chairman of the meeting
or
FULL NAME
of
ADDRESS
or failing whom
FULL NAME
of
ADDRESS
as my/our proxy to attend and vote for me/us and on my/our behalf at the Twenty Seventh Annual General Meeting
of the Company to be held on Tuesday, 15 June 2004 at 3.00 p.m.and at any adjournment thereof:
My/Our proxy is to vote as indicated below:
Resolution
1
2
3
4
5
6
7
8
For
Against
(Please indicate with an "X" in the spaces provided how you wish your vote to be casted.If you do not do so, the
proxy will vote or abstain voting at his discretion)
Signature
Dated this
day of
2004
NOTES:
1. Every member is entitled to appoint a proxy or in the case of a corporation,to appoint a representative to attend
and vote in his place . A proxy need not be a member of the Company.
2. The Proxy Form must be signed by 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. In the case of joint
holdings,the signature of the first named holder is sufficient.
3. If the Proxy Form is returned without indication as to how the proxy shall vote, the proxy will vote or abstain as
he thinks fit.
4. If the name is not inserted in the space for the name of your proxy, the Chairman of the Meeting will act as your proxy.
5. The Proxy Form must be deposited at Kumpulan Perangsang Selangor Berhad, 16th Floor, Plaza Perangsang,
Persiaran Perbandaran,40000 Shah Alam,not less than 48 hours before the time of holding of the Meeting or any
adjournment thereof,or in the case of a poll,not less than 24 hours before the time appointed for the taking of
the poll.

c over r at ionalerasionalmukade pa n

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