Documenti di Didattica
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LAPORAN TAHUNAN
www.cima.com.my
CONCRETEPartnership
UsahasamaKONKRIT
2004
L A P O R A N TA H U NA N
2 0 0 4 A N N U A L R E P O RT
ANNUAL REPORT
CONTENTS/KANDUNGAN
Corporate Profile
Profil Korporat
Corporate Information
Maklumat Korporat
Corporate Structure
Struktur Korporat
Board of Directors
Lembaga Pengarah
Profile of Directors
Profil Para Pengarah
16
30
32
34
40
Chairmans Statement
Penyata Pengerusi
48
Financial Statements
Penyata Kewangan
Proxy Form
Borang Proksi
CORPORATE PROFILE
PROFIL KORPORAT
ement Industries of Malaysia Berhad Group of Companies (CIMA Group or the Group) has been involved in the
manufacturing and distribution of cement and related activities since 1975. CIMA Group effectively combines people skills and
technological capabilities to become the third largest cement manufacturer in Malaysia, enjoying approximately 18% of the
countrys cement market share. The Group also ventures into international markets, especially in Singapore, being one of the most
resilient markets in Asia.
CIMA was listed on the Main Board of Bursa Malaysia Securities Berhad (formerly known as Malaysia Securities Exchange Berhad)
in June 1984. It became a part of the largest construction conglomerate in Malaysia when United Engineers (Malaysia) Berhad
acquired a majority stake of 53.9% in 1990. At present, the Group has staff strength of approximately 1,000 employees. Its
subsidiaries, associates and a joint venture company are involved in the manufacturing of cement, limestone quarrying, distribution
and sale of cement, production and sale of readymixed concrete, investment holding, and the manufacture and sale of cement
bags.
The Group is divided into three main divisions of Manufacturing, Quarrying and Readymixed Concrete, and Trading.
Sembilan Cement Industries Sdn Bhd leads the Manufacturing Division with its cement plants in Bukit Ketri, Perlis and
Negeri Sembilan. The above two plants combined, make up a total clinker production capacity of 2.8 million tonnes per
and a total cement production capacity of 3.4 million tonnes per annum, comprising ordinary portland cement (OPC),
OPC and masonry cement.
Negeri
Bahau,
annum
Type II
In the Quarrying and Readymixed Concrete Division, Cimaco Quarry Sdn Bhd provides the required limestone for the Manufacturing
Division, whilst Unipati Concrete Sdn Bhd manufactures the readymixed concrete for sale in the Peninsular Malaysia. In the
meantime, Pemasaran Simen Negara Sdn Bhd as the Trading Division of the Group, co-ordinates customer-oriented services such
as the marketing, selling and distribution of the Groups cement, under the brand names of Blue Lion and NS Cement.
The Group commands a strong market presence with two strategically located plants in the north and south of Peninsular Malaysia.
Moreover, its extensively developed distribution networks of marketing offices and packing depots nationwide, further strengthens
the Groups standings, given the more efficient means in reaching its consumers.
CORPORATE INFORMATION
MAKLUMAT KORPORAT
BOARD OF DIRECTORS
LEMBAGA PENGARAH
Datuk Abu Hassan Kendut
Chairman/Pengerusi
Dato Rosli Sharif
Managing Director/Pengarah Urusan
REGISTRAR/PENDAFTAR
Mega Corporate Services Sdn Bhd
Level 15-1, Faber Imperial Court
(Office Block of Sheraton Imperial Hotel)
Jalan Sultan Ismail, 50250 Kuala Lumpur
Tel / Tel No
: 03-2692 4271
Fax / Faks No : 03-2732 5388
AUDITORS/JURUAUDIT
Ir. Abdullah Yusof
KPMG
PRINCIPAL BANKERS
BANK-BANK UTAMA
Bumiputra-Commerce Bank Berhad
Bank Muamalat Berhad
AmBank Berhad
Standard Chartered Bank Malaysia
Berhad
AUDIT COMMITTEE
JAWATANKUASA AUDIT
Ir. Abdullah Yusof
Chairman/Pengerusi
Independent Non-Executive Director
Pengarah Bebas Bukan Eksekutif
Zainal Abidin Jamal
Independent Non-Executive Director
Pengarah Bebas Bukan Eksekutif
Dato Cheong Keap Tai
Non-Independent Non-Executive Director
Member of the Malaysian Institute of
Accountants
Pengarah Bukan Bebas Bukan Eksekutif
Ahli Institut Akauntan Malaysia
REGISTERED OFFICE
PEJABAT BERDAFTAR
Bukit Ketri, Mukim of Chuping
02450 Kangar, Perlis
Tel / Tel No
: 04-938 2006
Fax / Faks No : 04-938 2722
PRINCIPAL SOLICITORS
PEGUAMCARA-PEGUAMCARA
UTAMA
SENIOR MANAGEMENT
PENGURUSAN KANAN
Dato Rosli Sharif
Managing Director/Pengarah Urusan
Cement Industries of Malaysia Berhad
Dato Redzuan Tan Sri Sheikh Ahmad
Advisor/Penasihat
Cement Industries of Malaysia Berhad
Mohd Zaki Hamdan
Chief Financial Officer
Ketua Pegawai Kewangan
Cement Industries of Malaysia Berhad
Lee Mow Ting
Executive Director
Pengarah Eksekutif
Cimaco Edar Sdn Bhd
Liew Saik Wai
Executive Director
Pengarah Eksekutif
Cimaco Quarry Sdn Bhd
Mt Nanyan Ismail
General Manager, Plant Bukit Ketri
Pengurus Besar, Loji Bukit Ketri
Negeri Sembilan Cement Industries
Sdn Bhd
George Decruz
General Manager, Plant Bahau
Pengurus Besar, Loji Bahau
Negeri Sembilan Cement Industries
Sdn Bhd
CORPORATE STRUCTURE
STRUKTUR KORPORAT
HOLDING COMPANY
SYARIKAT PEGANGAN
SUBSIDIARY COMPANIES
ANAK-ANAK SYARIKAT
Manufacturing Division
Divisyen Pengilangan
100%
Trading Division
Divisyen Perdagangan
100%
37.31%
100%
60%
51%
100%
12.24%
Investment holding
Pegangan pelaburan
100%
100%
Investment in properties
Pelaburan dalam hartanah
Dormant
Tidak beroperasi
ASSOCIATED COMPANIES
SYARIKAT-SYARIKAT
BERSEKUTU
Buildcon Cimaco Concrete Sdn Bhd* ("BCC")
Manufacture of ready mixed concrete
Pembuatan konkrit siap campur
20%
30%
GROUPS 2004
FINANCIAL
HIGHLIGHTS
MAKLUMAT PENTING KEWANGAN
KUMPULAN 2004
2004
RM000
2003
RM000
CHANGE IN %
PERUBAHAN
DALAM %
566,004
564,099
0.3
31,170
55,649
(44)
(15,591)
(28,877)
(46)
872
(962)
(191)
17,024
25,810
(34)
Taxation/Cukai
(2,275)
(5,081)
(55)
(1,153)
(1,749)
(34)
13,596
18,980
(28)
66,838
66,996
(0.2)
15,591
28,877
(46)
Revenue/Hasil
RM '000
RM '000
RM '000
2004
89,444
2004
(31,604)
2004
90,451
2003
204,190
2003
(31,163)
2003
86,460
30
60
30
60
2003
2002
2001
2000
566
564
519
471
355
17
26
15
23
1,137
88
183
1,142
81
164
1,191
83
143
1,232
87
109
1,262
68
136
132
549
681
291
132
542
674
331
132
529
661
195
132
531
663
379
132
513
645
390
12.0
10.3
463
6.5
18.2
14.4
455
6
11.4
5.5
443
5
18.9
16.5
442
5
5.3
2.8
456
3
2.5
3.8
2.3
3.4
1.5
1.5
2.3
1.3
1.8
0.7
RM '000
-60
-30
RM '000
2004
(53,849)
2004
86,460
2003
(118,797)
2003
32,230
-0
30
60
90
120
150
180
210
BOARD OF DIRECTORS
LEMBAGA PENGARAH
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
DATUK ABU HASSAN KENDUT
Chairman and Non-Independent Non-Executive Director
Pengerusi dan Pengarah Bukan Bebas Bukan Eksekutif
Datuk Abu Hassan Kendut, aged 63, has been the Chairman
of Cement Industries of Malaysia Berhad (CIMA) since
16 October 2001. He is a member of the Malaysian Institute
of Certified Public Accountants (MICPA) and the Malaysian
Institute of Accountants (MIA). He was a past President of
MICPA and Asean Federation of Accountants, and was
formerly the Senior Partner of Coopers & Lybrand. Also, he
was a member of the Corporate Debt Restructuring
Committee of Bank Negara Malaysia and Employees Provident
Fund Board, as well as a member of Capital Issues
Committee and Audit License Committee of the Ministry
of Finance.
Currently, he serves as the Chairman of United Engineers of
(Malaysia) Berhad (UEM) and UEM Builders Berhad (formerly
known as Intria Berhad), and also as Director of Manulife
Insurance (Malaysia) Berhad (formerly known as John
Hancock Life Insurance (Malaysia) Berhad), Rating Agency
Malaysia Berhad, Metrod (Malaysia) Berhad, Khazanah
Nasional Berhad, and several other private limited firms.
Datuk Abu Hassan does not have any family relationship with any
director and/or major shareholder of CIMA, nor any personal
interest in any business arrangement involving the Company. He
has had no convictions for any offences within the past 10 years.
10
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
11
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
12
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
Dato Jimin Idris, aged 63, has been a Director of CIMA since
16 October 2001. He holds a Bachelor of Arts (Honours) in
Sociology from the University of Western Australia and a
Masters of Philosophy (Development Economics) from the
University of Cambridge, United Kingdom.
He was formerly an officer with the Administrative and
Diplomatic Service of Malaysia. He has served in various
capacities in several Ministries in the Government. He was
also formerly the Director of the National Zoo of Malaysia.
Dato Jimin does not have any family relationship with any
director and/or major shareholder of CIMA, nor any personal
interest in any business arrangement involving the Company.
He has had no convictions for any offences within the past
10 years.
13
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
Malaysian
Plantations
Berhad
daripada tahun 1983 hingga tahun
1986. Pada tahun 1987, beliau telah
mengasaskan Tetuan Zainal Abidin &
Co. Peguambela dan Peguamcara di
mana pada masa ini beliau merupakan
Rakan Kongsi Kanan.
Kini, beliau juga berkhidmat sebagai
Pengarah di Mentakab Rubber
Company (Malaya) Berhad, Park May
Berhad, Island & Peninsular Berhad,
Lam Soon (M) Berhad, Malaysia
National Insurance Berhad, KESAS
14
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
15
PROFILE OF DIRECTORS
PROFIL PARA PENGARAH
16
STATEMENT
ON CORPORATE
GOVERNANCE
PENYATA TADBIR URUS KORPORAT
INTRODUCTION
The Board of Directors of Cement Industries of Malaysia Berhad (CIMA) is committed
towards ensuring that the highest standards of corporate governance are practised in
the Company.
The Companys commitment towards compliance to the Malaysian Code on Corporate Governance (the
Code) and the Bursa Malaysia Securities Berhad (BMSB) Listing Requirements is embedded in CIMAs
Board Policy Manual. Good corporate governance is a fundamental part of the Boards responsibility to
protect and enhance long term shareholders value and the financial performance of the Company, whilst
taking into account the interests of other stakeholders.
This section of the Annual Report details how the Company has applied the principles and complied with
the recommended Best Practices for its financial year ended 31 December 2004. Any areas in which the
Company has not complied with the Code, are explained in this report.
DIRECTORS
THE BOARD
The Company is spearheaded by an experienced Board of Directors with a wide and varied range of
experience. The Board of Directors plays a key role of determining the strategic direction of the Company
while the Management carries out its implementation and adheres to set policies.
There is also a clear division of responsibilities between the Chairman and Managing Director to ensure that
there is a balance of power and authority in managing the Company. The Managing Director reports to the
Board and seeks approval from the Board on major matters when required.
BOARD BALANCE
The Board currently has eight (8) Directors consisting of one (1) executive member and seven (7) nonexecutive members of whom, three (3) are Independent Directors. This complies with BMSBs requirement
in terms of the number of independent non-executive directors in the composition of the Board. A brief
profile of each Director is presented on pages 8 to 15 of the Annual Report.
The Company has fully complied with the Codes requirements on board composition through the
appointment of Ir. Abdullah Yusof as the Senior Independent Non-Executive Director, to whom any concerns
with regards to the Company may be conveyed.
Although the Company has a holding company, UEM World Berhad, as its majority stakeholder, the
investment of minority shareholders is reflected through the independent Board representation.
17
PENGENALAN
Lembaga Pengarah Cement Industries of Malaysia Berhad (CIMA) adalah komited dalam
memastikan tahap piawaian tadbir urus korporat yang paling tinggi diamalkan dalam Syarikat.
Komitmen Syarikat terhadap pematuhan kepada Kod Tadbir Urus Korporat Malaysia (Kod) dan KeperluanKeperluan Penyenaraian Bursa Malaysia Securities Berhad (BMSB) termaktub dalam Buku Panduan Dasar
Lembaga CIMA. Tadbir urus korporat yang baik adalah sebahagian penting daripada tanggungjawab
Lembaga untuk memelihara dan merangsang nilai pemegang saham untuk jangka masa panjang dan juga
prestasi kewangan Syarikat, di samping mengambil kira kepentingan-kepentingan para pemegang
kepentingan yang lain.
Bahagian Laporan Tahunan ini membutirkan bagaimana Syarikat telah mengaplikasikan prinsip-prinsip dan
seterusnya mematuhi Amalan-amalan Terbaik yang telah disyorkan bagi tahun kewangannya yang berakhir 31
Disember 2004. Mana-mana bahagian Kod yang tidak dipatuhi oleh Syarikat dijelaskan dalam laporan ini.
PARA PENGARAH
LEMBAGA
Syarikat ini diterajui oleh sebuah Lembaga Pengarah yang berpengalaman luas dan mempunyai pelbagai
pengalaman. Lembaga Pengarah memainkan peranan utama dalam menentukan hala tuju strategik Syarikat
sementara pihak Pengurusan pula membuat pelaksanaan dan mematuhi polisi-polisi yang telah ditetapkan.
Di samping itu, terdapat juga pembahagian tanggungjawab yang nyata antara Pengerusi dan Pengarah Urusan
untuk memastikan bahawa terdapat keseimbangan kuasa dan pengaruh dalam menguruskan Syarikat. Pengarah
Urusan melapor dan mendapatkan kelulusan daripada Lembaga mengenai perkara-perkara yang penting
sekiranya perlu.
KESEIMBANGAN LEMBAGA
Lembaga kini mengandungi lapan (8) orang Pengarah yang dianggotai oleh seorang (1) ahli eksekutif dan tujuh
(7) orang ahli bukan eksekutif yang mana, tiga (3) orang adalah Pengarah Bebas. Ini mematuhi keperluan BMSB
mengenai terma bilangan keahlian pengarah bebas bukan eksekutif dalam komposisi Lembaga. Profil ringkas
setiap Pengarah dibentangkan pada muka surat 8 hingga 15 dalam Laporan Tahunan ini.
Syarikat telah mematuhi keperluan-keperluan Kod mengenai komposisi Lembaga dengan sepenuhnya
melalui perlantikan Ir. Abdullah Yusof sebagai Pengarah Kanan Bebas Bukan Eksekutif. Sebarang masalah
mengenai Syarikat boleh dikemukakan kepada beliau.
Walaupun Syarikat mempunyai Syarikat induk, UEM World Berhad, sebagai pemegang kepentingan majoriti,
pelaburan pemegang-pemegang saham minoriti dicerminkan melalui perwakilan bebas dalam Lembaga.
18
BOARD RESPONSIBILITIES
The Board retains effective control of the Company. This includes responsibility for determining the Companys overall strategic
direction as well as, development and control of the Company as a whole. Key matters, such as approval of annual and interim
results, acquisitions and disposals, as well as material agreements, major capital expenditures, budgets, long term plans and
succession planning for top management are reserved for the Board. These reserved matters are set out in the Companys
Discretionary Authority Limits (DAL) and the Board Policy Manual as approved by the Board. The DAL also specifies the level of
authority delegated to the Management by the Board. Copies of the Board Policy Manual are made available to all Directors while
the DAL is distributed to all senior management staff and managers involved in the day-to-day management of the operations.
At each regularly scheduled meeting, the Board will review financial and operational performance of the Group against the annual
budget previously approved by the Board for that year. At least one of the Board meetings will include visit by Directors to key
operational locations and interaction with senior management staff.
The Board has also delegated certain responsibilities to other Board committees, which operate within clearly defined terms of
reference. The committees of the Board include the Audit Committee, the Nomination Committee and the Remuneration
Committee. These committees deliberate on issues pertaining to their terms of reference, and present recommendations to the
Board for decisions.
The Board reviewed the term of office and performance of the Audit Committee and each of its members every 3 years to
determine whether the Audit Committee has carried out their duties in accordance with their terms of reference.
DIRECTORS TRAINING
All Directors of the Company have successfully attended the Mandatory Accreditation Programme conducted by the Bursatra Sdn
Bhd (formerly known as Bursa Malaysia Training Sdn Bhd), the training arm and an affiliate company of BMSB. The Directors will
continue to attend Continuing Education Programmes (CEP) to obtain the minimum 72 CEP points by 31 December 2005.
BOARD MEETINGS
Board meetings are scheduled every quarter to review the Groups operations, quarterly announcements and annual financial
statements. Additional meetings are held as and when issues arise and are necessary to be dealt with in between the scheduled
meetings. The minutes of the Board of Directors meetings are maintained by the Company Secretaries, and the Board minutes
recorded all the necessary resolutions of the Board in discharging its duties and responsibilities.
Throughout the financial year ended 31 December 2004, seven (7) Board meetings were conducted. Details of each Directors
attendance of the Board meetings are disclosed as follows:-
DIRECTOR
Datuk Abu Hassan Kendut
Dato Rosli Sharif
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Dato Jimin Idris
Zainal Abidin Jamal
Azmanuddin Haq Ahmad
Sundra Rajoo Nadarajah
STATUS
NO. OF MEETINGS
HELD DURING
TENURE
NO. OF
MEETINGS
ATTENDED
Non-Executive
Executive
Non-Executive
Non-Executive
Non-Executive
Non-Executive
Non-Executive
Non-Executive
7
7
7
7
7
7
7
5
7
7
7
7
7
6
5
4
100
100
100
100
100
86
71
80
19
TANGGUNGJAWAB-TANGGUNGJAWAB LEMBAGA
Lembaga mengekalkan kawalan yang berkesan ke atas Syarikat. Ini meliputi tanggungjawab untuk menentukan hala tuju strategik
Syarikat secara umum dan juga pembangunan dan kawalan Syarikat secara keseluruhan. Perkara-perkara utama seperti kelulusan
keputusan tahunan dan interim, pengambilalihan dan penjualan, perjanjian-perjanjian penting, perbelanjaan modal yang utama,
bajet, rancangan jangka panjang dan pelan penggantian untuk pengurusan atasan adalah dikhaskan kepada Lembaga. Perkaraperkara yang dikhaskan ini adalah ditetapkan dalam Had Kuasa Budi Bicara Syarikat (HKBB) dan Buku Panduan Dasar Lembaga
sebagaimana yang telah diluluskan oleh Lembaga. HKBB juga menghuraikan tahap kuasa yang telah diagihkan kepada pihak
Pengurusan oleh Lembaga. Salinan Buku Panduan Dasar Lembaga ada disediakan untuk semua Pengarah, sementara HKBB telah
diedarkan kepada semua kakitangan pengurusan kanan dan para pengurus yang terlibat dalam pengurusan operasi harian.
Pada setiap mesyuarat yang telah dijadualkan, Lembaga akan meneliti prestasi kewangan dan operasi Kumpulan serta
membandingkannya dengan bajet yang sebelum ini telah diluluskan oleh Lembaga bagi tahun tersebut. Sekurang-kurangnya, satu
daripada mesyuarat-mesyuarat Lembaga akan turut memuatkan lawatan para Pengarah ke tempat-tempat operasi utama dan
peluang untuk berinteraksi dengan pihak kakitangan pengurusan kanan.
Lembaga juga telah mengagihkan tanggungjawab-tanggungjawab tertentu kepada jawatankuasa-jawatankuasa Lembaga yang lain, yang
beroperasi berpandukan terma-terma rujukan yang ditakrifkan dengan jelas. Jawatankuasa-jawatankuasa Lembaga tersebut termasuklah
Jawatankuasa Audit, Jawatankuasa Pencalonan dan Jawatankuasa Ganjaran. Jawatankuasa-jawatankuasa ini mempertimbangkan isuisu yang berkaitan dengan terma-terma rujukan mereka, dan membuat pengesyoran kepada Lembaga untuk keputusan.
Lembaga mengkaji tempoh bertugas dan prestasi Jawatankuasa Audit serta setiap ahlinya pada setiap tiga tahun untuk
menentukan sama ada Jawatan Kuasa Audit telah menjalankan tugas mereka selaras dengan bidang kuasanya.
MESYUARAT-MESYUARAT LEMBAGA
Mesyuarat-mesyuarat lembaga dijadualkan setiap suku tahun untuk meneliti operasi, pengumuman suku tahunan dan penyatapenyata kewangan tahunan Kumpulan. Mesyuarat tambahan diadakan apabila terdapat isu-isu yang timbul dan perlu diselesaikan
antara mesyuarat-mesyuarat yang telah dijadualkan. Minit-minit mesyuarat Lembaga Pengarah disimpan oleh Setiausaha-setiausaha
Syarikat, dan minit-minit tersebut merekod semua resolusi-resolusi Lembaga yang perlu dalam melaksanakan tugas-tugas dan
tanggungjawab-tanggungjawabnya.
Sepanjang tahun kewangan berakhir 31 Disember 2004, sebanyak tujuh (7) mesyuarat Lembaga telah diadakan. Butir-butir
kehadiran setiap Pengarah ke mesyuarat-mesyuarat tersebut adalah seperti berikut:-
PENGARAH
Datuk Abu Hassan Kendut
Dato Rosli Sharif
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Dato Jimin Idris
Zainal Abidin Jamal
Azmanuddin Haq Ahmad
Sundra Rajoo Nadarajah
STATUS
BILANGAN MESYUARAT
YANG DIADAKAN DALAM
TEMPOH PELANTIKAN
BILANGAN
MESYUARAT
YANG DIHADIRI
Bukan Eksekutif
Eksekutif
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
7
7
7
7
7
7
7
5
7
7
7
7
7
6
5
4
100
100
100
100
100
86
71
80
20
NOMINATION COMMITTEE
CHAIRMAN
MEMBERS
Non-Independent Non-Executive
Director
Recommend to the Board, candidates for all directorships to be filled by the Board.
Consider, in making its recommendations, candidates for directorships proposed by the Managing Director and, within the
bounds of practicability, by any other senior executive or any director or shareholder.
Examine the size of the Board with a view to determine the number of directors on the Board in relation to its effectiveness.
Ensure that at every annual general meeting, one-third (1/3) of the Directors for the time being shall retire from the office.
Review annually its required mix of skills and experience and other qualities, including core competencies which nonexecutive directors should bring to the Board and disclose the same in the annual report.
Recommend suitable orientation, educational and training programmes to continuously train and equip the existing and new
directors.
Assess annually the effectiveness of the Board as a whole, the committees of the Board and the contribution of each
individual director based on the process implemented by the Board.
To date, the Nomination Committee has established a process, to which it refers, in discharging its duties to annually assess the
effectiveness of the Board as a whole, the Committees of the Board and contribution of each individual Director.
21
JAWATANKUASA PENCALONAN
PENGERUSI
AHLI-AHLI
Mengesyorkan kepada Lembaga, calon-calon bagi semua jawatan Pengarah untuk diisi oleh Lembaga.
Mempertimbangkan, dalam membuat pengesyorannya, calon-calon untuk jawatan Pengarah yang telah dicadangkan
oleh Pengarah Urusan dan, dalam batas-batas yang boleh dipraktikkan, mana-mana eksekutif kanan, pengarah atau
pemegang saham.
Mengesyorkan kepada Lembaga, para Pengarah untuk memenuhi keahlian jawatankuasa-jawatankuasa Lembaga.
Memeriksa saiz Lembaga dengan tujuan untuk menentukan bilangan pengarah dalam Lembaga bagi memastikan
keberkesanannya.
Memastikan supaya pada setiap mesyuarat agung tahunan, satu pertiga (1/3) daripada para Pengarah yang sedia ada bersara
daripada memegang jawatan.
Meneliti pada setiap tahun keperluan Lembaga dari segi campuran kemahiran, pengalaman serta pelbagai kualiti lain,
termasuk kecekapan teras para pengarah bukan eksekutif yang perlu dibawa ke dalam Lembaga, dan mendedahkan perkara
ini dalam Laporan Tahunan.
Mengesyorkan program-program orientasi, pendidikan dan latihan yang bersesuaian untuk melatih dan melengkapkan para
Pengarah yang sedia ada dan pengarah baru secara berterusan.
Menilai pada setiap tahun, keberkesanan Lembaga secara keseluruhan, jawatankuasa-jawatankuasa Lembaga serta
sumbangan pengarah secara individu berasaskan proses yang telah dilaksanakan oleh Lembaga.
Setakat ini, Jawatankuasa Pencalonan telah menetapkan satu proses, sebagai rujukan dalam melaksanakan tanggungjawabtanggungjawabnya untuk menilai pada setiap tahun, keberkesanan Lembaga secara keseluruhan, Jawatankuasa-jawatankuasa
Lembaga dan sumbangan individu daripada setiap Pengarah.
22
RE-ELECTION OF DIRECTORS
In accordance with the Companys Articles of Association (Articles), all Directors who are appointed by the Board are subject to
election by shareholders at the earliest opportunity after their appointment. The Articles also provide that at least one-third (1/3)
of the Board including the Managing Director is subject to re-election at regular intervals and at least once every three (3) years.
The Directors retiring at the forthcoming Annual General Meeting and are eligible for re-election are as follows:-
DATOROSLI SHARIF
REMUNERATION COMMITTEE
CHAIRMAN
MEMBERS
Non-Independent Non-Executive
Director
Set, review, recommend and advise the policy framework on all elements of the remuneration of the Managing Director and
Executive Director, if any.
Advise the Board on the performance of the Managing Director and Executive Director and assessment of their entitlement
to performance-related remuneration.
During the year ended 31 December 2004, one (1) meeting was held.
DIRECTOR
Dato Cheong Keap Tai
Ir. Abdullah Yusof
Zainal Abidin Jamal
STATUS
NO. OF MEETINGS
HELD DURING
TENURE
NO. OF
MEETINGS
ATTENDED
Non-Executive
Non-Executive
Non-Executive
1
1
1
1
1
1
100
100
100
23
JAWATANKUASA GANJARAN
PENGERUSI
AHLI-AHLI
Menasihati Lembaga mengenai prestasi Pengarah Urusan dan Pengarah Eksekutif serta penilaian tentang kelayakan mereka
berkenaan penerimaan ganjaran yang berkaitan dengan prestasi.
Dalam tahun berakhir 31 Disember 2004, satu (1) mesyuarat telah diadakan.
PENGARAH
Dato Cheong Keap Tai
Ir. Abdullah Yusof
Zainal Abidin Jamal
STATUS
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
BILANGAN
MESYUARAT
YANG DIADAKAN
BILANGAN
DALAM TEMPOH
MESYUARAT
PELANTIKAN
YANG DIHADIRI
1
1
1
1
1
1
%
100
100
100
24
DIRECTORS REMUNERATION
The remuneration package of the Directors includes the following:(i)
BASIC SALARY
In setting the basic salary for the Managing Director, the Remuneration Committee takes into account the compensation
practices of other companies and the Managing Directors performance.
(ii)
FEES
Fees payable to Non-Executive Directors are determined by the Board with the approval from the shareholders at the
Companys annual general meetings.
(iii)
BONUS SCHEME
The Company operates a bonus scheme for all employees. The criteria for the scheme is dependent on the level of profit
achieved from the Companys business activities together with the assessment of each individuals performance. Bonus
payable to the Managing Director is reviewed by the Remuneration Committee and approved by the Board.
(iv)
BENEFITS IN KIND
Other benefits such as car and driver or car allowances, medical and dental cover and leave passage are provided for the
Managing Director and immediate family.
(v)
RETIREMENT PLAN
Mandatory contributions are required to be made to the Employees Provident Fund (EPF) through a defined contribution
plan for the Managing Director.
(vi)
CONTRACT OF SERVICE
The Managing Director has a contract of service with the Company. The notice period for termination of his contract is three
(3) months.
Following is the aggregate of Directors remuneration categorised into appropriate components for the financial year ended
31 December 2004:-
Executive Director
Non-Executive Directors
SALARIES
(RM)
FEES
(RM)
BONUS
(RM)
BENEFITS IN KIND
(RM)
TOTAL
(RM)
386,200
329,800
65,000
69,000
520,200
329,800
The number of directors of the Company whose total remuneration falls within the following bands found in the table below for
the financial year ended 31 December 2004 are as follows:-
EXECUTIVE
NO. OF DIRECTORS
NON-EXECUTIVE
6
1
25
GAJI POKOK
Dalam menetapkan gaji pokok untuk Pengarah Urusan, Jawatankuasa Ganjaran mengambil kira amalan-amalan pampasan
oleh syarikat-syarikat lain dan prestasi Pengarah Urusan tersebut.
(ii)
YURAN-YURAN
Yuran-yuran yang perlu dibayar kepada para Pengarah Bukan Eksekutif ditentukan oleh Lembaga dengan mendapat kelulusan
daripada para pemegang saham pada mesyuarat-mesyuarat agung tahunan.
(iii)
SKIM BONUS
Syarikat mengendalikan satu skim bonus untuk semua kakitangan. Kriteria bagi skim tersebut bergantung kepada tahap
keuntungan yang telah berjaya dicapai daripada aktiviti-aktiviti perniagaan Syarikat beserta dengan penilaian prestasi setiap
individu. Bonus yang akan dibayar kepada Pengarah Urusan disemak oleh Jawatankuasa Ganjaran dan diluluskan
oleh Lembaga.
(iv)
(v)
PELAN PERSARAAN
Sumbangan-sumbangan mandatori hendaklah dibuat kepada Kumpulan Wang Simpanan Pekerja (KWSP) melalui satu pelan
sumbangan tertakrif untuk Pengarah Urusan.
(vi)
KONTRAK PERKHIDMATAN
Pengarah Urusan mempunyai kontrak untuk berkhidmat dengan Syarikat. Tempoh notis bagi penamatan kontrak beliau adalah
tiga (3) bulan.
Berikut adalah agregat ganjaran-ganjaran para Pengarah yang telah dikategorikan ke dalam komponen-komponen yang
bersesuaian bagi tahun kewangan berakhir 31 Disember 2004:-
Pengarah Eksekutif
Para Pengarah Bukan Eksekutif
GAJI
(RM)
YURAN
(RM)
BONUS
(RM)
MANFAAT
BARANGAN ATAU
SEUMPAMANYA
(RM)
386,200
329,800
65,000
69,000
JUMLAH
(RM)
520,200
329,800
Bilangan pengarah Syarikat yang mana jumlah ganjaran mereka termasuk dalam kumpulan-kumpulan yang tertera dalam jadual di
bawah bagi tahun kewangan berakhir 31 Disember 2004 adalah seperti berikut:-
EKSEKUTIF
BILANGAN PENGARAH
BUKAN EKSEKUTIF
6
1
26
SHAREHOLDERS
COMMUNICATION BETWEEN THE COMPANY AND INVESTORS
The Company recognises the importance of dialogues with its shareholders and does this through the annual reports, general
meetings, circulars, disclosures and announcements to BMSB and the Companys website. The policy of the Company is to
maintain an active communication with its shareholders with the intention of giving shareholders clear and necessary information
on the Companys performance and position.
The key element of the Companys communication with its shareholders is the opportunity to gather views of, and answer
questions from, both private and institutional shareholders on all issues relevant to the Company and the Group.
The Companys website, www.cima.com.my, provides up-to-date information of the Company.
GENERAL MEETINGS
The general meetings are the principal forums for communication with shareholders. The Board encourages shareholders
participation and questions pertaining to issues in the annual reports, audited financial statements, corporate developments in the
Group, the resolutions being proposed and on the business matters of the Group in general. The external auditors are also present
at the Companys general meetings.
27
PEMEGANG-PEMEGANG SAHAM
KOMUNIKASI ANTARA SYARIKAT DAN PARA PELABUR
Syarikat mengiktiraf akan kepentingan berdialog dengan para pemegang sahamnya dan melaksanakannya melalui laporan-laporan
tahunan, mesyuarat-mesyuarat agung tahunan, mesyuarat-mesyuarat agung luar biasa, pekeliling-pekeliling, pendedahan dan
pengumuman kepada BMSB dan laman web Syarikat. Polisi Syarikat adalah untuk mengekalkan komunikasi yang aktif dengan
para pemegang sahamnya dengan tujuan untuk memberi maklumat yang jelas dan penting kepada mereka tentang prestasi serta
kedudukan Syarikat.
Elemen utama dalam komunikasi Syarikat dengan para pemegang sahamnya ialah peluang untuk mendapatkan pandangan dan
menjawab soalan-soalan daripada para pemegang saham persendirian dan institusi, mengenai semua isu yang relevan dengan
Syarikat dan Kumpulan.
Laman web Syarikat, www.cima.com.my menyediakan maklumat terkini mengenai Syarikat.
MESYUARAT-MESYUARAT AGUNG
Mesyuarat-mesyuarat agung adalah merupakan forum-forum utama untuk berkomunikasi dengan para pemegang saham. Lembaga
menggalakkan penyertaan para pemegang saham dan soalan-soalan yang berkaitan dengan isu-isu dalam laporan-laporan tahunan,
penyata-penyata kewangan yang telah diaudit, pembangunan-pembangunan korporat dalam Kumpulan, resolusi-resolusi yang
dicadangkan dan perkara-perkara yang berkaitan dengan perniagaan Kumpulan secara umum. Juruaudit luaran juga hadir pada
mesyuarat-mesyuarat agung Syarikat.
28
OTHER INFORMATION
In conformance with BMSB Listing Requirements, the following information is provided:(a)
NON-AUDIT FEES
The amount of non-audit fees paid and payable to external audit firms by the Company and its subsidiaries for the financial
year ended 31 December 2004 is RM145,000.00.
(b)
CONFLICT OF INTEREST
None of the Directors have any family relationship with other Directors and/or major shareholders of CIMA, nor any personal
interest in any business arrangement involving the Company. All Directors had no convictions for any offences within the past
ten (10) years.
(c)
(d)
MATERIAL CONTRACTS
There were no material contracts other than in the ordinary course of business entered into by the Company or its
subsidiaries involving Directors and major shareholders interests.
(e)
SHARE BUY-BACKS
During the financial year, there was no share buy-back by the Company.
(f)
(g)
PROFIT GUARANTEES
The Company did not give any profit guarantee during the financial year.
(h)
(i)
29
MAKLUMAT LAIN
Selaras dengan Keperluan-keperluan Penyenaraian BMSB, maklumat berikut dibentangkan:(a)
(b)
KONFLIK KEPENTINGAN
Tiada Pengarah yang mempunyai hubungan kekeluargaan dengan Pengarah-pengarah lain dan/atau para pemegang saham
utama CIMA, dan mempunyai kepentingan peribadi dalam apa jua urusan perniagaan yang melibatkan Syarikat. Semua
Pengarah tidak pernah disabitkan dengan sebarang kesalahan dalam tempoh sepuluh (10) tahun lepas.
(c)
(d)
KONTRAK-KONTRAK PENTING
Tiada kontrak penting selain daripada dalam urusan perniagaan yang biasa telah dijalinkan oleh Syarikat atau anak-anak
syarikatnya yang membabitkan kepentingan para Pengarah dan para pemegang saham.
(e)
(f)
(g)
JAMINAN KEUNTUNGAN
Syarikat tidak memberi sebarang jaminan keuntungan sepanjang tahun kewangan.
(h)
(i)
STATEMENT ON
INTERNAL CONTROL
PENYATA KAWALAN DALAMAN
INTRODUCTION
BOARD RESPONSIBILITIES
The Board recognises the importance of internal controls and
the risk management practices to achieve good corporate
governance. The Board also acknowledges its overall
responsibility for the Groups system of internal control and
risk management, and for reviewing the adequacy and
integrity of those systems.
The system covers not only financial control but also controls
relating to operations, risk management and compliance with
applicable laws, regulations, rules, directives and guidelines.
It should be noted, however, that such systems are designed
to manage rather than eliminate the risk of failure to achieve
business objectives. In addition, any system can provide only
reasonable, and not absolute assurance against material
misstatement or loss.
31
PENGENALAN
TANGGUNGJAWAB LEMBAGA
Lembaga menyedari akan kepentingan kawalan dalaman dan
amalan pengurusan risiko untuk mencapai tadbir urus korporat
yang baik. Lembaga turut mengiktiraf tanggungjawabnya ke
atas sistem kawalan dalaman dan pengurusan risiko
Kumpulan secara keseluruhan, dan untuk mengkaji
kesempurnaan dan kesepaduan sistem-sistem tersebut.
32
CONCLUSION
Some internal control weaknesses were identified during the period, all of which have been, or are being addressed. None of the
weaknesses have resulted in material losses, contingencies or uncertainties that would require disclosure in the Groups Annual
Report.
The Board and Management continue to undertake measures to strengthen the control environment.
The external auditor has reviewed this Statement on Internal Control and nothing has come to its attention that causes it to believe
that this Statement is inconsistent with its understanding of the process the Board of Directors has adopted in the review of the
adequacy and integrity of internal control of the Group.
This statement is made in accordance with the resolution of the Board of Directors dated 29 April 2005.
Ensured applicable accounting standards have been followed, subject to any material departures being disclosed
and explained in the financial statements; and
Prepared the financial statement on the going concern basis unless it is inappropriate to presume that the Group
and the Company will continue in business.
The Directors are responsible for ensuring that the Group keeps proper accounting records which disclose with reasonable
accuracy at any time, the financial position of the Group and of the Company, and to enable them to ensure that the
financial statements comply with the Companies Act, 1965 and applicable approved accounting standards. The Directors are
also responsible for the assets of the Group and of the Company and, hence, for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
33
KESIMPULAN
Beberapa kelemahan kawalan dalaman telah dikenal pasti dalam tempoh yang dilaporkan telah atau sedang diambil tindakan
sewajarnya. Tiada kelemahan yang dikenal pasti telah mengakibatkan kerugian yang nyata, keadaan luar jangka atau
ketidaktentuan yang memerlukan pendedahan dalam Laporan Tahunan Kumpulan.
Lembaga dan Pengurusan akan terus mengambil langkah-langkah yang perlu untuk menguatkan persekitaran kawalan.
Juruaudit luaran telah meneliti Penyata Kawalan Dalaman ini dan pada pemerhatiannya, tidak ada perkara yang boleh
menyebabkannya percaya bahawa Penyata ini tidak konsisten dengan kefahamannya terhadap proses yang telah diterima pakai
oleh Lembaga Pengarah dalam meneliti kecukupan dan kesepaduan kawalan dalaman Kumpulan.
Penyata ini disediakan berdasarkan resolusi Lembaga Pengarah bertarikh 29 April 2005.
Dalam menyediakan penyata-penyata kewangan, para Pengarah Cement Industries of Malaysia Berhad telah:
Menerima pakai dasar-dasar perakaunan yang sesuai dan kemudian menggunakannya secara konsisten;
Memastikan kesesuaian piawaian perakaunan yang diikuti, tertakluk kepada penyimpangan penting yang didedah
dan diterangkan dalam penyata kewangan; dan
Menyediakan penyata kewangan berasaskan andaian bahawa Kumpulan dan Syarikat akan meneruskan
perniagaannya kecuali jika ia tidak sesuai.
Para Pengarah bertanggungjawab untuk memastikan bahawa Kumpulan menyimpan dengan sempurna rekod perakaunan
yang menyatakan dengan tepat dan munasabah pada sebarang masa tentang kedudukan kewangan Kumpulan dan Syarikat
dan membolehkan mereka memastikan bahawa penyata kewangan tersebut mematuhi Akta Syarikat, 1965 dan piawaian
perakaunan yang diluluskan. Para Pengarah juga bertanggungjawab ke atas aset-aset Kumpulan dan Syarikat dan dengan
itu, bertanggungjawab untuk mengambil langkah yang munasabah bagi mencegah dan mengesan penipuan serta perkara
lain yang berlawanan dengan peraturan.
REPORT OF THE
AUDIT COMMITTEE
LAPORAN JAWATANKUASA AUDIT
The audit committee must be composed of no fewer than three (3) members;
b.
c.
ii.
If he/she is not a member of the MIA, he/she must have at least 3 years working experience; and
he/she must have passed the examinations specified in Part I of the First Schedule of the Accountants Acts, 1967;
and
he/she must be a member of the association of accountants specified in Part II of the First Schedule of the
Accountants Acts, 1967.
The members of the audit committee shall elect a Chairman from among themselves who shall be an independent director. All
members of the audit committee, including the Chairman, will hold office only so long as they serve as directors of the company.
The board of directors must review the term of office and performance of the audit committee and each of its members every
three years to determine whether the audit committee has carried out their duties in accordance with their terms of reference.
Members of the audit committee may relinquish their membership in the committee with prior written notice to the Company
Secretary and may continue to serve as director of the company. In the event of any vacancy in the audit committee resulting in
non-compliance with BMSB Listing Requirements, the company must fill the vacancy within 3 months. The nomination committee
will review and recommend, to the board for approval, another director to fill up such vacancies.
BMSB further stipulates that no alternate director shall be appointed as a member of the audit committee.
35
Jawatankuasa audit mesti dianggotai oleh tidak kurang daripada tiga (3) orang ahli;
b.
c.
ii.
Sekiranya beliau bukan anggota MIA, beliau mesti mempunyai pengalaman kerja sekurang-kurangnya 3 tahun; dan
beliau mesti lulus peperiksaan yang ditentukan dalam Bahagian I Jadual Pertama Akta Akauntan, 1967; dan
beliau mesti merupakan ahli persatuan perakaunan yang ditentukan dalam Bahagian II Jadual Pertama Akta
Akauntan, 1967.
Ahli-ahli jawatankuasa audit hendaklah melantik seorang Pengerusi di kalangan mereka, yang merupakan seorang pengarah bebas.
Semua ahli jawatankuasa audit, termasuk Pengerusi, akan memegang jawatan selagi mereka berkhidmat sebagai pengarah
syarikat.
Lembaga pengarah harus mengkaji tempoh bertugas dan prestasi jawatankuasa audit serta setiap ahlinya pada setiap tiga tahun
untuk menentukan sama ada jawatankuasa audit telah menjalankan tugas mereka selaras dengan bidang rujukannya.
Ahli-ahli jawatankuasa audit boleh melepaskan keahlian mereka dalam jawatankuasa dengan terlebih dahulu memberikan notis
bertulis kepada Setiausaha Syarikat dan boleh meneruskan perkhidmatannya sebagai pengarah syarikat. Sekiranya terdapat
sebarang kekosongan dalam jawatankuasa audit yang menyebabkan Keperluan-keperluan Penyenaraian BMSB tidak dipatuhi,
syarikat perlu mengisi kekosongan tersebut dalam tempoh 3 bulan. Jawatankuasa pencalonan akan mengkaji dan mencadangkan
seorang lagi pengarah kepada lembaga untuk diluluskan bagi mengisi kekosongan tersebut.
BMSB selanjutnya telah menetapkan bahawa tiada pengarah gantian boleh dilantik sebagai ahli jawatankuasa audit.
36
Consider the appointment of a suitable accounting firm to act as the external auditor. Amongst the factors considered for
the appointment are the adequacy of the experience and resources of the firm, the individuals assigned to the audit and the
recommended audit fees payable.
b.
Discuss with the external auditor before the audit commences the nature and scope of the audit and ensure co-ordination
where more than one audit firm is involved.
c.
Review the interim results, and annual financial statements of the Company, prior to approval by the Board of Directors,
focusing particularly on:
Any changes in accounting policies and practices.
d.
Discuss problems and reservations arising from the interim and final audits, and any other matters the external auditor may
wish to discuss in the absence of Management, if necessary.
e.
f.
Review the assistance and co-operation given by the Company, its business units and its officers to both external and internal
auditors.
g.
Review and ensure the Companys Internal Audit function is adequately resourced and has appropriate standing within the
Company to evaluate the standard of internal controls and financial reporting.
h.
i.
Review any related party transactions that may arise within the Company or the Group.
j.
b.
c.
Power to obtain full, free and unrestricted access to any information, records, properties and personnel of the Company and
of any other companies within the Group.
d.
e.
Power to obtain independent professional advice and to invite outsiders with relevant experience to attend the Audit
Committees meetings and to brief the Committee.
f.
Discretion to invite other Directors and employees of the Company to attend any Audit Committee meeting to discuss specific
issues.
g.
Power to convene meetings with external and internal auditors, without the Management of the Company.
h.
Discretion to request for additional procedures to be followed in the event that current procedures on the Companys
Recurrent Related Party Transactions are insufficient.
37
Mempertimbangkan pelantikan firma perakaunan yang sesuai untuk berkhidmat sebagai juruaudit luaran. Antara faktor-faktor
yang dipertimbangkan untuk pelantikan tersebut adalah kecukupan pengalaman dan sumber-sumber firma serta individuindividu yang ditugaskan untuk menjalankan audit dan yuran audit yang telah dicadangkan.
b.
Berbincang dengan juruaudit luaran tentang jenis dan skop audit sebelum audit dimulakan dan memastikan terdapat
koordinasi sekiranya mempunyai penglibatan lebih daripada satu firma audit.
c.
Mengkaji keputusan interim dan penyata kewangan tahunan Syarikat, sebelum mendapat kelulusan daripada Lembaga
Pengarah, dengan memberi tumpuan kepada:
Sebarang perubahan dalam dasar-dasar dan amalan-amalan perakaunan.
d.
Membincangkan masalah dan keraguan yang timbul daripada audit interim dan akhir, dan juga sebarang perkara lain yang
ingin dibincangkan oleh juruaudit luaran, tanpa kehadiran pihak Pengurusan, sekiranya perlu.
e.
Meneliti surat pengurusan daripada juruaudit luaran dan maklum balas daripada pihak Pengurusan.
f.
Mengkaji bantuan dan kerjasama yang diberikan oleh Syarikat, unit-unit perniagaan dan para pegawainya kepada juruaudit
luaran dan dalaman.
g.
Mengkaji dan memastikan fungsi Audit Dalaman Syarikat mempunyai sumber yang mencukupi, dan mempunyai kedudukan
yang sewajarnya dalam Syarikat untuk menilai tahap kawalan-kawalan dalaman dan laporan kewangan.
h.
Mempertimbangkan penemuan-penemuan penting daripada penyiasatan dalaman dan maklum balas Pengurusan
mengenainya.
i.
Meneliti sebarang urus niaga pihak yang berkaitan yang mungkin timbul di dalam Syarikat atau Kumpulan.
j.
b.
c.
Kuasa untuk mendapatkan akses yang penuh, bebas dan tidak terhad kepada sebarang maklumat, rekod, harta benda dan
kakitangan Syarikat dan mana-mana syarikat lain dalam Kumpulan.
d.
e.
Kuasa untuk mendapatkan nasihat profesional yang bebas dan menjemput pihak luar yang mempunyai pengalaman yang
relevan untuk menghadiri mesyuarat Jawatankuasa Audit dan memberi taklimat kepada Jawatankuasa.
f.
Budi bicara untuk menjemput para Pengarah yang lain dan kakitangan Syarikat untuk menghadiri mana-mana mesyuarat
Jawatankuasa Audit bagi membincangkan isu-isu khusus.
g.
Kuasa untuk mengadakan mesyuarat dengan juruaudit luaran dan dalaman, tanpa kehadiran pihak Pengurusan Syarikat.
h.
Budi bicara untuk meminta prosedur-prosedur tambahan untuk diikuti sekiranya prosedur-prosedur semasa mengenai Urus
Niaga-Urus Niaga Berulangan Dengan Pihak Yang Berhubung Kait Syarikat tidak mencukupi.
38
MEETINGS
During the year under review, the Audit Committee held six (6) meetings where all of its members have recorded full attendance.
The details of the meetings held are as follows:-
Director
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Zainal Abidin Jamal
Status
No. of Meetings
Held During
Tenure
No. of
Meetings
Attended
Non-Executive
Non-Executive
Non-Executive
6
6
6
6
6
6
100
100
100
Notice of meetings are distributed to the Audit Committee members and other relevant representatives prior to the meetings.
Normally, the meetings are also attended by Secreteries of the Company who records the minutes of the proceedings, the Head
of Finance and the Head of the Internal Audit Department.
The external auditors are also invited to meetings when matters relating to audits of the statutory accounts need to be discussed. Quorum
for the meeting is met when a majority of members present are Independent Directors (Independent Members).
Decisions of the Audit Committee shall be made on the basis of majority agreement by the Independent Members. Minutes of the
meetings are distributed to each member of the Audit Committee and also to members of the Board. The Chairman of the Audit
Committee, who is also a Board member, shall report matters discussed at each meeting to the Board.
ACTIVITIES
In line with the terms of reference of the Audit Committee, the following activities were carried out by the Committee for the year
ended 31 December 2004 in discharging its responsibilities to review:
The external and internal auditors scope of work and their audit plan.
With the external and the internal auditors on the results of their audits, the audit report and internal control recommendations
in respect of control weaknesses noted in the course of their audit. The Audit Committee met with the external auditors
without the Management of the Company.
The quarterly unaudited financial results and recommended the same to the Board of Directors for approval prior to
announcement to BMSB.
The audited financial statements before recommending for the Board of Directors approval.
The Companys compliance with BMSB Listing Requirements and the applicable approved accounting standards issued by
the Malaysian Accounting Standards Board and the Companies Act, 1965.
EXTERNAL AUDIT
The Audit Committee continuously engages with and monitors the services of the external auditors to ensure independence,
objectivity and effectiveness of the existing auditors.
In line with the Companys corporate governance practices, the Audit Committee had reviewed and evaluated the engagement of
the incumbent auditors. This exercise will be carried out periodically.
39
MESYUARAT-MESYUARAT
Dalam tahun yang dilaporkan, Jawatankuasa Audit telah mengadakan enam (6) mesyuarat yang mana kesemua ahlinya telah
merekodkan kehadiran yang penuh. Butir-butir mesyuarat adalah seperti berikut:-
Pengarah
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Zainal Abidin Jamal
Status
Bilangan
Mesyuarat yang
Diadakan Dalam
Tempoh Pelantikan
Bilangan
Mesyuarat
yang Dihadiri
Bukan Eksekutif
Bukan Eksekutif
Bukan Eksekutif
6
6
6
6
6
6
100
100
100
Notis-notis mesyuarat diedarkan kepada ahli Jawatankuasa Audit dan perwakilan lain yang relevan sebelum mesyuarat. Lazimnya,
mesyuarat juga dihadiri oleh Setiausaha-setiausaha Syarikat yang mencatatkan minit-minit mesyuarat, Ketua Jabatan Kewangan
dan Ketua Jabatan Audit Dalaman.
Juruaudit luaran juga dijemput untuk menghadiri mesyuarat apabila perkara-perkara berkaitan dengan pengauditan akaun-akaun
berkanun perlu dibincangkan. Korum mesyuarat mencukupi apabila majoriti ahli yang hadir adalah Pengarah-pengarah Bebas
(Ahli-ahli Bebas).
Keputusan Jawatankuasa Audit dibuat berdasarkan persetujuan majoriti oleh Ahli-ahli Bebas. Minit-minit mesyuarat diedarkan
kepada setiap ahli Jawatankuasa Audit dan juga ahli-ahli Lembaga. Pengerusi Jawatankuasa Audit, yang juga merupakan ahli
Lembaga, hendaklah melaporkan perkara-perkara yang dibincangkan dalam setiap mesyuarat kepada Lembaga.
AKTIVITI-AKTIVITI
Berdasarkan terma-terma rujukan Jawatankuasa Audit, berikut adalah aktiviti-aktiviti yang dijalankan oleh Jawatankuasa tersebut
untuk melaksanakan tanggungjawabnya bagi tahun berakhir 31 Disember 2004 untuk meneliti:
Skop kerja juruaudit dalaman dan luaran serta perancangan audit mereka.
Bersama-sama juruaudit dalaman dan luaran akan keputusan audit, laporan audit dan pengesyoran kawalan dalaman
terhadap kelemahan-kelemahan kawalan yang dikenal pasti semasa pengauditan mereka. Jawatankuasa Audit mengadakan
mesyuarat dengan juruaudit luaran tanpa pihak Pengurusan Syarikat.
Pengumuman keputusan kewangan untuk setiap suku tahunan yang belum diaudit dan mengesyorkan kelulusan kepada ahli
Lembaga Pengarah untuk diluluskan.
Penyata kewangan yang telah diaudit sebelum mengesyorkan kelulusan kepada ahli Lembaga Pengarah untuk diluluskan.
Pekeliling Syarikat kepada Para Pemegang Saham mengenai Urus Niaga-Urus Niaga Berulangan Dengan Pihak Yang
Berhubung kait.
Pematuhan Syarikat terhadap Keperluan-keperluan Penyenaraian BMSB dan piawaian perakaunan yang boleh diaplikasi dan
diluluskan yang dikeluarkan oleh Lembaga Piawaian Perakaunan Malaysia dan Akta Syarikat, 1965.
AUDIT LUARAN
Jawatankuasa Audit melantik juruaudit luaran dan memantau perkhidmatan mereka secara berterusan untuk memastikan
kebebasan, objektiviti dan keberkesanan juruaudit yang sedia ada.
Selaras dengan amalan tadbir urus korporat Syarikat, Jawatankuasa Audit telah mengkaji dan menilai pelantikan juruaudit yang
sedia ada. Gerak kerja ini akan dijalankan secara berkala.
40
CHAIRMANS STATEMENT
PENYATA PENGERUSI
DEAR SHAREHOLDERS,
We are pleased to present the Annual Report and the audited financial results
for the financial year ended 31 December 2004.
Kami berasa sukacita membentangkan Laporan Tahunan ini dan juga keputusan
kewangan yang telah diaudit untuk tahun kewangan berakhir 31 Disember 2004.
ECONOMY AT A GLANCE
IMBASAN EKONOMI
42
INDUSTRY OVERVIEW
Although Malaysian economy recorded a growing trend,
the construction sector registered a contraction by 1.9%
mainly due to lower civil engineering activities. The
construction sector was further slowed down by the
constraint of supply in steel products during the second
half of 2004, subsequently dampening cement demand
and affecting the cement industry.
As a result, CIMA continued to operate in a very
challenging environment with the cement industry still
plagued by over-capacity. Nevertheless, the NSCIs
Negeri Sembilan Plant successfully recorded an
output level equalling its rated capacity of 1.2 million
tonnes of clinker.
FINANCIAL RESULTS
Despite intense competition experienced in the market,
the Group managed to achieve RM566 million revenue
in 2004 compared to RM564 million achieved in 2003.
The Groups profit before tax decreased from RM26
million in 2003 to RM17 million in 2004. The 34%
decrease was due to the escalation of production
cost as well as selling and distribution expenses.
Production cost had increased as a result of the hike
in energy cost, namely coal and fuel. The higher cost
of selling was incurred mainly to maintain the Groups
market share in Peninsular Malaysia.
TINJAUAN INDUSTRI
KEPUTUSAN KEWANGAN
43
Namun begitu, kesan daripada koskos yang lebih tinggi ini ke atas
keuntungan Kumpulan telah dapat
dikurangkan dengan pengurangan kos
kewangan
dan
sumbangan
keuntungan yang lebih tinggi daripada
syarikat-syarikat bersekutu. Kos
kewangan mencatatkan penurunan
sebanyak 46% jika dibandingkan
dengan tahun 2003, iaitu hasil
daripada kejayaan penerbitan Sekuriti
Hutang Persendirian NSCI berjumlah
RM330 juta pada 18 Mac 2004.
CHAIRMANS STATEMENT
PENYATA PENGERUSI
The Group launched the Logistics Winning Edge Solution, a web-based portal aimed
at improving the Groups customer service level.
ENHANCING
SERVICE LEVEL
CUSTOMER
MOVING FORWARD
To support the strategic drive for the
achievement of world-class cement
manufacturing performance, the Total
Quality
Organisation
(TQO)
programme was implemented at all
levels in the Group. The programme
targets to address strategic issues
such as change management, team
building & communication and
process management.
45
CHAIRMANS STATEMENT
PENYATA PENGERUSI
MENINGKATKAN TAHAP
PERKHIDMATAN PELANGGAN
CIMA percaya bahawa tahap
kepuasan pelanggan yang tinggi
adalah
amat
penting
untuk
mengekalkan kelebihan daya saing
dalam industri. Berikutan daripada
penilaian ke atas pengurusan rantaian
bekalannya,
Kumpulan
telah
melancarkan Logistics Winning Edge
Solution, sebuah portal berasaskan
laman web yang bertujuan untuk
memperbaiki tahap perkhidmatan
pelanggan Kumpulan.
Penyelesaian ini telah membolehkan
ketelusan yang lebih bagi para
pelanggan untuk mengesan pesanan
mereka di samping mengurangkan
kerja-kerja pentadbiran berasaskan
kertas. Kini, portal ini telah menjadi
perantaraan utama unit pemasaran
CIMA, yang mana pada masa ini lebih
daripada 85% pesanan dihantar
secara
dalam
talian,
lantas
membolehkan CIMA memenuhi
komitmen kepada para pelanggan
untuk Penghantaran Menepati Masa,
Setiap Masa.
MENGORAK LANGKAH KE
HADAPAN
Untuk menyokong usaha strategik
demi mencapai prestasi pengilangan
simen bertaraf dunia, program
Organisasi Kualiti Total (OKT) telah
dilaksanakan di semua peringkat
dalam Kumpulan. Program ini
46
CHAIRMANS STATEMENT
PENYATA PENGERUSI
The Directors recommended a first and final dividend of 6.5 sen per share less 28% tax amounting to
RM6.174 million in respect of the financial year ended 31 December 2004.
WORDS OF APPRECIATION
The Board of Directors, Management
and employees of the Group have
continued to strive for better
performance and higher achievements
despite the challenging business
environment in 2004. On that note, the
promising performance of the Group
in 2004 would not have been possible
without the support of so many
people to whom I would like to extend
our appreciation.
Much of our success to date is a
result of the collective efforts of our
employees. We are indeed very
fortunate to have fine working
professionals and managers in the
industry coming from diverse cultural
background, working together in the
true spirit of teamwork. On behalf of
the Board of Directors, I would like to
thank them for their commitment, hard
work and dedication.
Our valued shareholders, clients and
business partners have also been very
supportive of our efforts. To all of you,
we extend our sincere gratitude
and appreciation for your confidence
and support.
Thank you.
DIVIDEND
The Directors recommended a first
and final dividend of 6.5 sen per share
less 28% tax amounting to RM6.174
million in respect of the financial year
ended 31 December 2004, subject to
the approval of shareholders at the
forthcoming Annual General Meeting
of the Company.
47
Lembaga telah mencadangkan dividen yang pertama dan terakhir sebanyak 6.5 sen sesaham ditolak
28% cukai yang berjumlah RM6.174 juta dalam tahun kewangan berakhir pada 31 Disember 2004.
KATA-KATA PENGHARGAAN
Lembaga Pengarah, Pengurusan dan
kakitangan Kumpulan telah terus
berusaha untuk prestasi yang lebih baik
dan pencapaian yang lebih tinggi
meskipun persekitaran perniagaan amat
mencabar dalam tahun 2004.
Sehubungan dengan itu, saya ingin
merakamkan ucapan penghargaan
kepada pihak-pihak berikut kerana
tanpa sokongan mereka, pencapaian
Kumpulan yang menggalakkan untuk
tahun 2004 tidak mungkin akan
menjadi kenyataan.
Sebahagian besar kejayaan kami
pada hari ini adalah hasil usaha
bersama para pekerja kami. Kami
sesungguhnya amat bertuah memiliki
para pekerja dan pengurus profesional
yang baik dalam industri, yang berasal
daripada latarbelakang budaya
yang berbeza dan berganding
bahu dengan semangat sebagai
sebuah pasukan. Bagi pihak Lembaga
Pengarah, saya ingin mengucapkan
terima
kasih
atas
komitmen,
kesungguhan dan dedikasi mereka.
Para pemegang saham, pelanggan dan
rakan perniagaan kami yang dihargai
juga telah turut memberi sokongan
terhadap usaha-usaha kami. Kepada
anda semua, kami mengucapkan
terima kasih dan penghargaan
yang ikhlas atas keyakinan dan
sokongan anda.
Terima kasih.
DIVIDEN
Lembaga telah mencadangkan dividen
yang pertama dan terakhir sebanyak
6.5 sen sesaham ditolak 28% cukai
yang berjumlah RM6.174 juta dalam
tahun kewangan berakhir pada
31 Disember 2004, tertakluk kepada
persetujuan pemegang-pemegang
saham pada Mesyuarat Agung
Tahunan Syarikat yang akan datang.
48
Financial Statements
Penyata Kewangan
49
Directors Report
54
Statement by Directors
54
Statutory Declaration
55
56
Balance Sheets
57
Income Statements
58
59
60
62
93
98
98
Perisytiharan Berkanun
99
Laporan Juruaudit
100
Kunci Kira-kira
101
Penyata Pendapatan
102
103
104
106
49
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2004
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for
the year ended 31 December 2004.
PRINCIPAL ACTIVITIES
The Company is principally engaged in the provision of management services and that of an investment holding, whilst the
principal activities of the subsidiaries are as disclosed in Note 3 to the financial statements.
There has been no significant change in the nature of these activities during the financial year.
RESULTS
Group
RM000
Company
RM000
13,596
4,354
DIVIDENDS
Since the end of the previous financial year, the Company paid a first and final dividend of 6 sen per share, comprising a 2 sen
per share tax exempt and a 4 sen per share less 28% tax, amounting to RM6,437,734 in respect of the financial year ended
31 December 2003 on 30 June 2004.
The Directors recommended a first and final dividend of 6.5 sen per share less 28% tax amounting to RM6,173,893 in respect of
the financial year ended 31 December 2004 which is subject to the approval of members at the forthcoming Annual General
Meeting of the Company.
The total number of shares to be offered under the Scheme shall not exceed 10% of the issued and paid-up share capital
of the Company or such maximum percentage as allowable by the relevant authorities at any point in time during the
existence of the Scheme;
ii)
The Scheme shall be in force for a duration of up to five (5) years commencing from 12 April 2004, subject however to any
extension to the Scheme as may be effected by the Company as provided in the By-Law;
iii)
Eligible persons are employees and executive Directors, who are involved in the day-to-day management and on the payroll
of the Group who have been confirmed in the employment of the Group and have been in the employment of the Group for
a continuous period of at least one full year immediately preceding the date of offer, the date when an offer is made in writing
to an employee to participate in the Scheme. Eligible non-Malaysian employees are those who serve the Group under an
employment contract for a duration of at least two (2) years, and for which the contract is subsisting;
50
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2004
v)
vi)
The number of shares offered under the scheme shall be allocated as follows:
(a)
not more than fifty percent (50%) of the option shares which are available to be allocated under the scheme, shall be
allocated in aggregate to eligible employees who are Executive Directors and senior management of the Group; and
(b)
not more than ten percent (10%) of the option shares available under the scheme shall be allocated to any selected
individual eligible employee of the Group who either singly or collectively through his associates holds twenty percent
(20%) or more in the issued and paid-up share capital of the Company.
at a discount of not more than ten percent (10%) from the weighted average market price of the shares as shown in
the daily official list issued by BMSB for the five (5) market days preceding the date of offer; and
(b)
The options granted do not confer any dividend or other distribution declared to the shareholders as at a date which
precedes the date of exercise of the option and will be subject to all the provisions of the Articles of Association of the
Company.
The options granted to take up unissued ordinary shares of RM1 each and the option price are as follows:Options Over Number of Ordinary Shares of RM1 each
Offered
Date of
Option
Balance at
and
Offer
Price
1.1.2004
Accepted
Lapsed
Exercised
Balance at
31.12.2004
12 Apr 2004
RM1.88
10,158,000
(159,000)
9,999,000
The persons to whom the options have been granted have no right to participate in any share issue of any other company within
the Group.
The Company has been granted exemption by the Companies Commission of Malaysia from having to disclose in this report the
name of employees who have been granted options to subscribe for less than 100,000 ordinary shares of RM1 each. The list of
employees granted options to subscribe for 100,000 or more ordinary shares of RM1 each during the financial year is as follows:Number of share options
Grant
Expiry
Exercise
Date
Date
Price
Granted
Exercised
31.12.2004
12 Apr 2004
11 Apr 2009
RM1.88
613,000
613,000
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
Mt Nanyan Ismail
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
Hamidun Hassan
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
Hakimi Mohamad
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
12 Apr 2004
11 Apr 2009
RM1.88
188,000
188,000
Name
Balance at
The ESOS Committee has verified the allocation of options granted during the financial year.
DIRECTORS OF THE COMPANY
Directors who served since the date of the last report are:Datuk Abu Hassan Kendut Chairman
Dato Rosli Sharif Managing Director
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Dato Jimin Idris
Zainal Abidin Jamal
Azmanuddin Haq Ahmad
Sundra Rajoo Nadarajah (Appointed on 4 March 2004)
51
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2004
Balance at
Granted
(Sold)
31.12.2004
700,000
640,000
36,000
^54,000
736,000
694,000
50,000
20,000
15,000
15,000
20,000
50,000
20,000
15,000
15,000
20,000
40,000
40,000
Indirect Interest
Dato Cheong Keap Tai*
5,000
5,000
100,000
100,000
**70,000
70,000
None of the other Directors holding office at 31 December 2004 had any interest in the ordinary shares of the Company, its holding
company and its related corporations during the financial year.
of spouse
52
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2004
DIRECTORS BENEFITS
Neither at the end of the financial year, nor at any time during the year, did there subsist any arrangement to which the Company
was a party, whereby the Directors might acquire benefits by means of the acquisition of shares in, or debenture of, the Company
or any other body corporate, other than those pursuant to or in furtherance of the Employee Share Option Scheme (ESOS) of
the Company to a Director of the Company, Dato Rosli Sharif, details of which are as follows:-
Date of
Offer
Option
Price
Balance at
1.1.2004
12 Apr 2004
RM1.88
613,000
53
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2004
AUDITORS
The auditors, Messrs KPMG have indicated their willingness to accept re-appointment.
Signed in accordance with a resolution of the Directors:-
54
STATEMENT BY DIRECTORS
PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965
In the opinion of the Directors, the financial statements set out on pages 56 to 92, are drawn up 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 the
state of affairs of the Group and of the Company at 31 December 2004 and of the results of their operations and cash flows for
the year ended on that date.
STATUTORY DECLARATION
PURSUANT TO SECTION 169(16) OF THE COMPANIES ACT, 1965
I, MOHD ZAKI HAMDAN, the officer primarily responsible for the financial management of CEMENT INDUSTRIES OF MALAYSIA
BERHAD, do solemnly and sincerely declare that the financial statements set out on pages 56 to 92 are, to the best of my
knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of
the provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the above named Mohd Zaki Hamdan at Kangar in the State of Perlis on 24 February 2005.
BEFORE ME:
55
We have audited the financial statements set out on pages 56 to 92. The preparation of the financial statements is the
responsibility of the Companys Directors. Our responsibility is to express an opinion on the financial statements based on our
audit.
We conducted our audit in accordance with approved Standards on Auditing in Malaysia. These standards require that we plan
and perform the audit to obtain all the information and explanations which we consider necessary to provide us with evidence to
give reasonable assurance that the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence relevant to the amounts and disclosures in the financial statements. An audit also includes an assessment of the
accounting principles used and significant estimates made by the Directors as well as evaluating the overall adequacy of the
presentation of information in the financial statements. We believe our audit provides a reasonable basis for our opinion.
In our opinion:
a)
the financial statements are properly drawn up 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 state of affairs of the Group and of the Company at 31 December 2004 and the results of their operations and cash
flows for the year ended on that date; and
ii)
the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements of the
Group and of the Company;
and
b)
the accounting and other records and the registers required by the Companies Act, 1965 to be kept by the Company and
the subsidiaries have been properly kept in accordance with the provisions of the said Act.
We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Companys 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 audit 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.
KPMG
Firm No: AF 0758
Chartered Accountants
NG SWEE WENG
Partner
Approval No: 1414/03/06 (J/PH)
Penang,
Date: 24 February 2005
56
BALANCE SHEETS
AS AT 31 DECEMBER 2004
Group
Current liabilities
Trade and other payables
Borrowings
Provisions
Retirement benefits
Taxation
Company
Note
2004
RM000
2003
RM000
2004
RM000
2003
RM000
2
3
4
5
6
7
9
736,941
1,202
1,173
5,615
69,961
783,511
330
600
7,109
73,228
21,701
624,568
872
600
1,650
22,777
624,568
600
1,675
8
9
89,980
103,687
4,062
124,080
83,284
92,771
3,348
97,376
5,326
2,066
5,002
17,508
3,063
9,859
321,809
276,779
12,394
30,430
75,567
41,199
20,839
407
641
64,918
30,755
13,896
1,152
2,008
1,868
27,556
427
138,653
112,729
1,871
27,985
183,156
164,050
10,523
2,445
998,048
1,028,828
659,914
652,065
131,921
219,868
328,980
131,921
219,868
321,822
131,921
219,868
285,464
131,921
219,868
287,548
680,769
673,611
637,253
639,337
10
11
12
13
14
15
16
Shareholders funds
Minority shareholders interests
17
15,151
14,430
11
12
14
18
291,467
7,543
3,118
330,799
6,890
3,098
20,307
52
2,302
10,821
26
1,881
998,048
1,028,828
659,914
652,065
The financial statements were approved and authorised for issue by the Board of Directors on 24 February 2005.
The notes set out on pages 62 to 92 form an integral part of, and should be read in conjunction with, these financial statements.
57
INCOME STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2004
Group
Note
Revenue
Other operating income
19
20
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
566,004
4,275
564,099
7,525
22,184
8
33,597
325
570,279
571,624
22,192
33,922
(4,969)
(197,372)
(43,551)
(70,105)
(223,112)
(6,994)
(177,031)
(42,093)
(70,263)
(219,594)
(3,805)
(2,356)
(6,911)
(3,522)
(2,331)
(9,169)
(539,109)
(515,975)
(13,072)
(15,022)
Operating profit
21
31,170
55,649
9,120
18,900
Financing costs
Share of profit/(losses) in associates
Share of profit in a jointly controlled entity
23
(15,591)
872
573
(28,877)
(962)
(132)
(12,512)
17,024
25,810
8,988
6,388
(2,275)
(5,081)
(4,634)
(4,533)
14,749
(1,153)
20,729
(1,749)
4,354
1,855
13,596
18,980
4,354
1,855
6.5 sen
6.0 sen
24
25
10.3 sen
14.4 sen
26
6.5 sen
6.0 sen
The notes set out on pages 62 to 92 form an integral part of, and should be read in conjunction with, these financial statements.
58
Note
At 1 January 2003
Share
Capital
RM000
Nondistributable Distributable
Share
Retained
Premium
Profits
RM000
RM000
Total
RM000
131,921
219,868
309,438
661,227
18,980
18,980
(6,596)
(6,596)
131,921
219,868
321,822
673,611
13,596
13,596
(6,438)
(6,438)
131,921
219,868
328,980
680,769
At 31 December 2003
Net profit for the year
Final 2 sen per share tax exempt and
4 sen per share less 28% tax for the
year ended 31 December 2003
At 31 December 2004
26
The notes set out on pages 62 to 92 form an integral part of, and should be read in conjunction with, these financial statements.
59
Note
At 1 January 2003
Share
Capital
RM000
Nondistributable Distributable
Share
Retained
Premium
Profits
RM000
RM000
Total
RM000
131,921
219,868
292,289
644,078
1,855
1,855
(6,596)
(6,596)
131,921
219,868
287,548
639,337
4,354
4,354
(6,438)
(6,438)
131,921
219,868
285,464
637,253
At 31 December 2003
Net profit for the year
Final 2 sen per share tax exempt and
4 sen per share less 28% tax for the
year ended 31 December 2003
At 31 December 2004
26
The notes set out on pages 62 to 92 form an integral part of, and should be read in conjunction with, these financial statements.
60
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
463,736
(328,470)
(42,310)
477,016
74,904
(307,100)
(40,712)
13,300
(12,083)
(3,763)
9,920
74,904
(8,598)
(3,426)
92,956
824
(4,336)
204,108
3,422
(3,340)
(2,546)
6,228
174
(794)
72,800
6,768
14,077
(1,286)
89,444
204,190
3,062
92,359
(10,949)
481
1,577
(29,302)
21
2,031
529
(1,280)
(1,131)
15,032
(22,713)
(4,442)
(31,604)
(31,163)
(1,280)
13,901
(1,388)
(6,438)
(432)
(15,591)
(1,182)
(6,596)
(432)
(21,880)
(427)
(6,438)
(132)
(876)
(6,596)
(5,515)
166,000
(30,000)
(172,997)
360,000
(257,710)
(18,000)
358
(172,997)
(20,560)
(45,393)
(18,000)
(53,849)
(118,797)
(6,639)
(103,937)
3,991
54,230
(4,857)
2,323
86,460
32,230
9,859
7,536
90,451
86,460
5,002
9,859
61
i)
ii)
(a)
(b)
an amount of RM6,943,000 represents the provision for land conversion premium capitalised under the long term
leasehold land; and
(c)
iii)
(a)
the issuance of PDS which encompasses the issuance of the Murabahah Notes Issuance Facility (MUNIF) of RM130
million and Bai Bithaman Ajil Islamic Debt Securities (BAIDS) of RM200 million totaling RM330 million; and
(b)
iv)
(b)
Company
During the last financial year, the Company disposed of the plant and equipment totalling RM286,366,000 and inventories of
RM44,795,000 to one of its wholly-owned subsidiary, Negeri Sembilan Cement Industries Sdn Bhd (NSCI), in exchange for
331,161,000 shares issued by NSCI. The balance of plant and equipment totaling RM14,774,000 were transferred to another
wholly-owned subsidiary, Pemasaran Simen Negara Sdn Bhd (PSN), for cash of RM15,032,000.
v)
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
61,685
28,766
60,753
25,707
4,214
788
9,253
606
90,451
86,460
5,002
9,859
The notes set out on pages 62 to 92 form an integral part of, and should be read in conjunction with, these financial statements.
62
1.
Basis of accounting
The financial statements of the Group and of the Company are prepared on the historical cost basis except as disclosed
in the notes to the financial statements and in compliance with the provisions of the Companies Act, 1965 and
applicable approved accounting standards in Malaysia.
(b)
Basis of consolidation
Subsidiaries are those enterprises controlled by the Company. Control exists when the Company has the power, directly
or indirectly, to govern the financial and operating policies of an enterprise so as to obtain benefits from its activities.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that control
effectively commences until the date that control effectively ceases. Subsidiaries are consolidated using the acquisition
method of accounting.
A subsidiary is excluded from consolidation when either control is intended to be temporary if the subsidiary is acquired
and held exclusively with a view of its subsequent disposal in the near future and it has not previously been
consolidated or it operates under severe long term restrictions which significantly impair its ability to transfer funds to
the Company. Subsidiaries excluded on these grounds are accounted for as investments.
Under the acquisition method of accounting, the results of subsidiaries acquired or disposed of during the year are
included from the date of acquisition or 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 Group financial statements. The difference
between the acquisition cost and the fair values of the subsidiaries net assets is reflected as goodwill or negative
goodwill as appropriate.
Intragroup transactions and balances and the resulting unrealised profits are eliminated on consolidation. Unrealised
losses resulting from intragroup transactions are also eliminated unless cost cannot be recovered.
(c)
Associates
Associates are those enterprises in which the Group has significant influence, but not control, over the financial and
operating policies.
The consolidated financial statements include the total recognised gains and losses of associates on an equity
accounted basis from the date that significant influence effectively commences until the date that significant influence
effectively ceases.
Unrealised profits arising on transactions between the Group and its associates which are included in the carrying
amount of the related assets and liabilities are eliminated partially to the extent of the Groups interests in the
associates. Unrealised losses on such transactions are also eliminated partially unless cost cannot be recovered.
Goodwill on acquisition is calculated based on the fair value of net assets acquired.
(d)
Joint venture
A joint venture is a contractual agreement whereby the Group and other parties have joint control over an economic
activity.
In respect of its interest in jointly controlled entities, the Group uses the equity method to account for its interest.
Unrealised profits or losses arising from transactions between the Group and its joint venturers are recognised only to
the extent of that portion of the gain or loss which is attributable to the interests of the other venturers. Unrealised
losses are recognised in full when the transaction provides evidence of a reduction in the net realisable value of current
assets or an impairment loss.
63
1.
(f)
2%
4%
1.75%
10%
331/3%
10%
Goodwill
Goodwill represents the excess of the cost of acquisition over the fair values of the net identifiable assets acquired and
is stated at cost less accumulated amortisation and accumulated impairment losses, if any.
Goodwill is amortised from the date of initial recognition over its estimated useful life of 25 years.
In respect of associates and jointly controlled entities, the carrying amount of goodwill is included in the carrying amount
of the investment in the associate or jointly controlled entity.
Negative goodwill represents the excess of the fair values of the net identifiable assets acquired over the cost of
acquisition.
(g)
Finance leases
Leases in which the Group and the Company assume substantially all the risks and rewards of ownership are classified
as finance leases. Assets acquired by way of finance leases are stated at an amount equal to the lower of their fair
values and the present value of the minimum lease payments at the inception of the leases, less accumulated
depreciation and impairment losses.
In calculating the present value of the minimum lease payments, the discount rate is the interest rate implicit in the
lease, if this is practicable to determine; if not, the Groups incremental borrowing rate is used.
(h)
Investments
Long term investments other than in subsidiaries, associates and joint ventures, are stated at cost. An allowance is
made when the Directors are of the view that there is a diminution in their value which is other than temporary.
Long term investments in subsidiaries, associates and joint ventures are stated at cost in the Company less impairment
losses, where applicable.
(i)
64
1.
Liabilities
Trade and other payables and amount due to a subsidiary are stated at cost.
(k)
Provisions
A provision is recognised when it is probable that an outflow of resources embodying economic benefits will be required
to settle a present obligation (legal or constructive) as a result of a past event and a reliable estimate can be made of
the amount.
(l)
Employee benefits
(i)
(ii)
(iii)
(iv)
(v)
Termination benefits
The Group pays termination benefits in cases of termination of employment within the framework of a restructuring.
Termination benefits are recognised as a liability and an expense when the Group has a detailed formal plan for
the termination and is without realistic possibility of withdrawal.
65
1.
Inventories
Raw materials, work-in-progress and manufactured inventories are stated at the lower of cost and net realisable value
with weighted average cost being the main basis for cost. For work-in-progress and manufactured inventories, cost
consists of materials, direct labour and an appropriate proportion of fixed and variable production overheads.
Consumables are stated at cost.
(o)
(p)
Impairment
The carrying amount of assets, other than inventories, and financial assets (other than investments in subsidiaries,
associates and joint ventures), are reviewed at each balance sheet date to determine whether there is any indication of
impairment. If any such indication exists, the assets recoverable amount is estimated. An impairment loss is recognised
whenever the carrying amount of an asset or the cash-generating unit to which it belongs exceeds its recoverable
amount. Impairment losses are recognised in the income statement, unless the asset is carried at a revalued amount,
in which case the impairment loss is charged to equity.
The recoverable amount is the greater of the assets net selling price and its value in use. In assessing value in use,
estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate
largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the
asset belongs.
An impairment loss in respect of goodwill is not reversed unless the loss was caused by a specific external event of
an exceptional nature that is not expected to recur and subsequent external events have occurred that reverse the effect
of that event.
In respect of other assets, an impairment loss is reversed if there has been a change in the estimates used to determine
the recoverable amount.
An impairment loss is reversed only to the extent that the assets carrying amount does not exceed the carrying amount
that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. The
reversal is recognised in the income statement, unless it reverses an impairment loss on a revalued asset, in which case
it is taken to equity.
(q)
Borrowing
Borrowings are initially recognised based on the proceeds received. The ancillary costs arising from the issuance of the
Private Debt Securities and the Kafalah guarantee commission prepaid are capitalised and amortised on a straight-line
basis over the period of the borrowings of seven (7) years and one (1) year, as appropriate.
(r)
Income tax
Tax on the profit or loss for the year comprises current and deferred tax. Income tax is recognised in the
income statement except to the extent that it relates to items recognised directly in equity, in which case it is
recognised in equity.
66
1.
(s)
US Dollar
Singapore Dollar
Euro
(t)
(u)
2004
2003
3.80
2.35
5.13
3.80
2.19
4.55
Income recognition
(i)
Sale of goods
Revenue from sale of goods is measured at the fair value of the consideration receivable and is recognised in the
income statement when the significant risks and rewards of ownership have been transferred to the buyer.
(ii)
(iii)
Expenses
(i)
Operating lease payments
Payments made under operating leases are recognised in the income statement on a straight-line basis over the
terms of the leases. Lease incentives received are recognised in the income statement as an integral part of the
total lease payments made.
(ii)
Financing costs
All interest and other costs incurred in connection with borrowings are expensed as incurred. The interest
component of finance lease payments is recognised in the income statement so as to give a constant periodic
rate of interest on the outstanding liability at the end of each accounting period.
67
2.
Long term
leasehold
land
RM000
Short term
leasehold
land
RM000
2,153
1,158
21,889
2,034
9,619
21,146
5,626
1,277,594
25,387
9,190
1,359,393
16,403
6,943
523
654
1,724
(1,694)
25,003
(543)
11,202
(25,657)
20,392
(1,694)
(543)
At 31 December 2004
at cost
2,153
at valuation
1,158
28,832
2,034
9,619
22,323
5,626
1,302,084
10,932
9,190
1,377,548
16,403
3,311
28,832
11,653
27,949
1,302,084
10,932
9,190
1,393,951
1,843
536
3,661
9,449
3,669
571,350
1,777
584,955
7,330
Cost/Valuation
At 1 January 2004
at cost
at valuation
Additions
Disposals
Reclassification
Write-off
Accumulated Depreciation
At 1 January 2004
at cost
at valuation
Plant,
Capital
equipment expenditureQuarry
Buildings and vehicles in-progress development
RM000
RM000
RM000
RM000
Total
RM000
256
213
1,490
(5)
63,547
(1,673)
(435)
1,332
66,838
(1,678)
(435)
At 31 December 2004
at cost
at valuation
2,099
573
3,837
10,807
3,796
632,789
3,109
649,377
7,633
2,099
4,410
14,603
632,789
3,109
657,010
At 31 December 2004
at cost
2,153
at valuation
1,158
26,733
1,461
5,782
11,516
1,830
669,295
10,932
6,081
728,171
8,770
3,311
26,733
7,243
13,346
669,295
10,932
6,081
736,941
At 31 December 2003
at cost
2,153
at valuation
1,158
20,046
1,498
5,958
11,697
1,957
706,244
25,387
7,413
774,438
9,073
3,311
20,046
7,456
13,654
706,244
25,387
7,413
783,511
224
213
1,454
63,517
1,588
66,996
Depreciation charge
for the year ended
31 December 2003
68
2.
Long term
leasehold
land
RM000
Short term
leasehold
land
RM000
Plant,
equipment
Buildings and vehicles
RM000
RM000
Capital
expenditurein-progress
RM000
Total
RM000
Cost/Valuation
At 1 January 2004
at cost
at valuation
Additions
Reclassification
2,003
797
889
2,034
9,619
10,950
2,986
219
186
11,680
86
995
206
975
(1,181)
27,762
13,402
1,280
At 31 December 2004
at cost
at valuation
2,003
797
889
2,034
9,619
11,355
2,986
12,761
29,042
13,402
2,800
889
11,653
14,341
12,761
42,444
Accumulated Depreciation
At 1 January 2004
at cost
at valuation
Charge for the year
157
14
536
3,661
213
6,521
2,349
448
5,163
1,681
12,377
6,010
2,356
At 31 December 2004
at cost
at valuation
171
573
3,837
6,842
2,476
6,844
14,430
6,313
171
4,410
9,318
6,844
20,743
2,003
797
718
1,461
5,782
4,513
510
5,917
14,612
7,089
2,800
718
7,243
5,023
5,917
21,701
2,003
797
732
1,498
5,958
4,429
637
6,517
206
15,385
7,392
2,800
732
7,456
5,066
6,517
206
22,777
14
213
595
1,509
2,331
At 31 December 2003
at cost
at valuation
Depreciation charge
for the year ended
31 December 2003
69
2.
Freehold land
Short term leasehold land
Buildings
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
277
1,059
964
277
1,109
998
242
1,059
242
1,109
2,300
2,384
1,301
1,351
Security
The Companys land with net book value of RM11 million and the land and assets of a subsidiary with net book value of
RM689 million was charged to the bank as security for borrowings. Details of which are as disclosed in Note 12 to the
financial statements.
Leased Plant and equipment
Included in plant and equipment of the Group are plant and equipment financed through lease agreements with net book
value of RM3.4 million (2003 : RM3.9 million).
The Group leased certain plant and equipment under a number of finance lease agreements. At the end of each of the leases,
the Group has the option to purchase the plant and equipment at a pre-determined amount as stated in the lease
agreements. Lease payments do not include contingent rent. No restrictions on dividends, additional debt and further leasing
were imposed by the lease arrangements.
3.
2004
RM000
2003
RM000
625,368
(800)
625,368
(800)
624,568
624,568
70
3.
Name of Subsidiary
4.
Place of
Incorporation
Percentage of
Equity
Held
2004
2003
%
%
Principal Activities
Negeri Sembilan
Cement Industries
Sdn Bhd
Malaysia
100
100
Pemasaran Simen
Negara Sdn Bhd
Malaysia
100
100
Malaysia
51
51
Malaysia
100
100
Investment holding
Malaysia
60
60
Malaysia
100
100
Investment in properties
Malaysia
100
100
Investment holding
Malaysia
100
100
Dormant
INVESTMENTS IN ASSOCIATES
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
23,320
(22,118)
23,320
(22,990)
20,000
(19,128)
20,000
(20,000)
1,202
330
872
1,202
330
71
4.
5.
Name of Associates
Place of
Incorporation
Groups Effective
Interest
2004
2003
%
%
Principal
Activities
Buildcon Cimaco
Concrete Sdn Bhd
Financial
Year End
Malaysia
20.0
20.0
Investment dealing
and holding
31 Dec
Malaysia
49.5
49.5
Manufacture of
readymixed concrete
30 Jun
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
600
573
600
600
600
1,173
600
600
600
Group
2004
RM000
2003
RM000
4,174
(3,601)
573
Current assets
Non-current assets
Current liabilities
1,214
451
(492)
600
Net assets
1,173
600
72
5.
Name of Associates
Prestige Packages
(Perlis) Sdn Bhd
6.
Place of
Incorporation
Malaysia
Groups Effective
Interest
2004
2003
%
%
Principal
Activities
30.0
Manufacture and
sale of cement bags
30.0
Financial
Year End
31 Mar
OTHER INVESTMENTS
Group
Quoted shares
Market value of quoted shares
2004
RM000
2003
RM000
5,615
7,109
11,743
14,331
The quoted shares of RM5.2 million (2003 : RM5.2 million) were subject to a moratorium period of three (3) years from
13 December 2001 and the moratorium period was over as at balance sheet date.
7.
2003
RM000
83,883
83,883
(10,655)
(3,267)
(7,388)
(3,267)
(13,922)
(10,655)
69,961
73,228
Cost
Balance at beginning and end of year
Accumulated Amortisation
73
8.
INVENTORIES
Group
Raw materials
Work-in-progress
Manufactured inventories
2004
RM000
2003
RM000
6,618
13,200
7,365
5,439
16,884
8,650
27,183
30,973
14,480
48,317
9,223
43,088
62,797
52,311
89,980
83,284
General stores of RM5.5 million (2003 : RM5.5 million) are carried at net realisable value.
9.
Trade receivables
Other receivables
- Holding company
- Subsidiaries
- Associates
- Jointly controlled entity
- Other receivables, deposits and prepayments
Non-current
Subsidiary
Included in other receivables, deposits and prepayments are:Ancillary cost of the issuance of
Private Debt Securities (PDS)
Kafalah guarantee commission prepaid
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
87,914
81,127
134
537
15,102
134
537
2,367
8,606
4,691
635
16,665
843
15,773
11,644
5,326
17,508
103,687
92,771
5,326
17,508
1,650
1,675
2,999
1,576
4,575
The ancillary cost arising from the issuance of PDS and the Kafalah guarantee commission prepaid in relation to the PDS
are capitalised and amortised over the period of the borrowings of 7 years and 1 year, as appropriate.
74
9.
10.
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
95,314
28,766
71,669
25,707
4,214
788
9,253
606
124,080
97,376
5,002
9,859
Included in short term fixed deposits with licensed banks of the Group is RM33.629 million (2003 : RM10.916 million) pledged
for bank facilities granted to certain subsidiaries.
11.
Trade payables
Other payables and accrued expenses
Subsidiaries
Jointly controlled entity
Deferred income
Others
Non-current
Subsidiary
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
25,055
15,095
1,735
442
48,335
560
442
48,821
1,868
21,127
6,429
75,567
64,918
1,868
27,556
20,307
10,821
The current amounts due to subsidiaries were interest-free, unsecured and had no fixed terms of repayment. The non-current
amount due to a subsidiary is interest-free, unsecured and not payable within a year.
75
12.
BORROWINGS
Group
Current:
Bridging Loan
- unsecured
Bai Bithaman Ajil Islamic Debt
Securities (BAIDS), secured
Lease and hire purchase obligations
Non-current:
Bridging Loan
- unsecured
Murabahah Commercial Papers/Medium
Term Notes (MUNIF), secured
BAIDS, secured
Lease and hire purchase obligations
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
30,000
40,000
1,199
755
427
41,199
30,755
427
330,000
130,000
160,000
1,467
799
291,467
330,799
Profit portion
MUNIF, BAIDS and Kafalah
MUNIF are subject to profit portion ranging from 3.5% to 4.0% per annum whilst the BAIDS are subject to profit portion
ranging from 4.2% to 6.0% per annum. The Kafalah Facility (Bank Guarantee) is subject to a guarantee commission of 1.25%
per annum on the amount of the guarantee issued.
Interest rates
Lease/hire purchase
Lease and hire purchase were subject to a fixed interest rate of 3.85% to 5.10% (2003 : 5% to 6%) per annum.
Repayment terms
MUNIF and BAIDS
The issuance of PDS by Negeri Sembilan Cement Industries Sdn Bhd (NSCI) encompasses the issuance of MUNIF of
RM130 million and BAIDS of RM200 million issued during the financial year end.
The MUNIF facilitates the issuance of Commercial Papers (CPs) with maturity ranging between one (1) to twelve (12) months
and Medium Term Notes (MTNs) with maturity ranging between one (1) to seven (7) years. Within the availability period of
up to seven (7) years, the Issuer may issue CPs or MTNs at its option via a mutually agreed tender or private placement
mechanism.
The BAIDS is an Islamic Debt Securities programme which applies the underlying Islamic principle of Bai Bithaman Ajil or
Deferred Payment Sale. To facilitate the financing under the principle of Bai Bithaman Ajil, the Primary Subscriber(s)
(AmMerchant) shall first purchase from the Issuer (NSCI) the Identified Asset(s) at the Purchase Price. The said asset(s)
shall subsequently be resold to the Issuer at the Sale Price which comprises the Purchase Price and profit margin
agreed between the Issuer and the Primary Subscriber(s). The Sale Price is payable over an agreed period by the Issuer in
deferred instalments.
76
12.
BORROWINGS (CONTD.)
The debt arising from the subsequent sale shall be evidenced by way of issuance of negotiable and non-interest bearing
promissory notes (the BBA Notes). The BBA Notes are called Syahadah Al-Dayn which means Certificate of Debt and may
be traded in the secondary market under the Syariah principle of Bai Al-Dayn.
Repayment terms
MUNIF and BAIDS
The MUNIF Programme availability period is up to seven (7) years from the date of the first issuance and is subject to the
Facility Limit Reduction Schedule as follows:From the date of
first issuance
First year
Second year
Third year
Fourth year
Fifth year
Sixth year
Seventh year
Limit
(RM million)
Cumulative Limit
(RM million)
10.0
10.0
40.0
40.0
30.0
130.0
130.0
120.0
110.0
70.0
30.0
Nil
Tranche
Tranche
Tranche
Tranche
Tranche
Tranche
1
2
3
4
5
Tenor
(Year)
Principal Portion
(Primary BBA Notes)
(RM million)
1
2
3
4
5
40.0
40.0
50.0
50.0
20.0
77
12.
BORROWINGS (CONTD.)
Repayment analysis
Lease and hire purchase obligations
Finance lease/hire purchase obligations are payable as follows:-
Payments
RM000
2004
Interest
RM000
Principal
RM000
Payments
RM000
2003
Interest
RM000
Principal
RM000
1,343
1,606
144
139
1,199
1,467
973
859
218
60
755
799
2,949
283
2,666
1,832
278
1,554
559
132
427
559
132
427
Group
Less than 1 year
Between 1 and 5 years
Company
Less than 1 year
Between 1 and 5 years
13.
PROVISIONS
Group
2004
RM000
2003
RM000
13,896
13,896
13,896
13,896
6,943
6,943
20,839
13,896
78
14.
RETIREMENT BENEFITS
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
8,395
8,636
102
91
(445)
(594)
(47)
(63)
7,950
8,042
55
28
Analysed as:
Current
Non-current
407
7,543
1,152
6,890
3
52
2
26
7,950
8,042
55
28
The Group maintains a book reserve in respect of the liabilities based on the actuarial valuation conducted by the actuary
in January 2004. The retirement plan is currently not funded and there are no physical assets set aside for the cost of
the benefits.
The liabilities and costs relate to the benefit are provided as stipulated in the Collective Agreement between certain
companies in the Group and Cement Industry Employees Union. Under the scheme, eligible employees are entitled to
retirement benefits varying between two-third to one month of the last drawn salary for each completed year of service upon
the retirement age of 50 or 55, as appropriate.
The
(a)
(b)
(c)
(d)
retirement benefit is only payable to unionised employees who:Retire on attainment of age 50 or 55, as appropriate; or
Are medically boarded out; or
Die in service; or
Resign voluntarily after 10 years of Company service.
Perlis Paper Products Sdn Bhd has paid off all the retirement benefits accruing to the eligible employees during the financial
year following the disposal of its business operations to Prestige Packages (Perlis) Sdn Bhd last year.
Movements in the net liability recognised in the balance sheets
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
8,042
(1,284)
7,558
(430)
(28)
6,167
(6,167)
1,192
914
27
28
7,950
8,042
55
28
79
14.
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
532
511
642
503
6
5
7
5
(13)
149
(218)
16
16
1,192
914
27
28
2004
%
2003
%
6.5
6.5
5.0 11.0
5.0 11.0
Discount rate
Expected rate of salary increases
15.
SHARE CAPITAL
Group/Company
2004
2003
RM000
RM000
Ordinary shares of RM1.00 each:Authorised
Issued and fully paid
1,000,000
1,000,000
131,921
131,921
The Companys Employees Share Option Scheme (ESOS or the Scheme) was approved by the shareholders at an
Extraordinary General Meeting (EGM) held on 4 March 2004 and the approval by Bursa Malaysia Securities Berhad
(BMSB) was obtained on 9 April 2004 for the listing of and quotation for such new shares that may be issued pursuant to
the Scheme.
The main features of the Scheme are as follows:i)
The total number of shares to be offered under the Scheme shall not exceed 10% of the issued and paid-up share
capital of the Company or such maximum percentage as allowable by the relevant authorities at any point in time during
the existence of the Scheme;
ii)
The Scheme shall be in force for a duration of up to five (5) years commencing from 12 April 2004, subject however
to any extension to the Scheme as may be effected by the Company as provided in the By-Law;
iii)
Eligible persons are employees and executive Directors, who are involved in the day-to-day management and on the
payroll of the Group who have been confirmed in the employment of the Group and have been in the employment of
the Group for a continuous period of at least one (1) full year immediately preceding the date of offer, the date when
an offer is made in writing to an employee to participate in the Scheme. Eligible non-Malaysian employees are those
who serve the Group under an employment contract for a duration of at least two (2) years, and for which the contract
is subsisting;
80
15.
v)
vi)
The number of shares offered under the scheme shall be allocated as follows:(a) not more than fifty percent (50%) of the option shares which are available to be allocated under the scheme, shall
be allocated in aggregate to eligible employees who are Executive Directors and senior management of the Group;
and
(b) not more than ten percent (10%) of the option shares available under the scheme shall be allocated to any
selected individual eligible employee of the Group who either singly or collectively through his associates holds
twenty percent (20%) or more in the issued and paid-up share capital of the Company.
The option price shall be the higher of the following:(a) at a discount of not more than ten percent (10%) from the weighted average market price of the shares as shown
in the daily official list issued by BMSB for the five (5) market days preceding the date of offer; and
(b) the par value of the shares.
The options granted do not confer any dividend or other distribution declared to the shareholders as at a date which
precedes the date of exercise of the option and will be subject to all the provisions of the Articles of Association of
the Company.
The options granted to take up unissued ordinary shares of RM1.00 each and the option price are as follows:Options Over Number of Ordinary Shares of RM1.00 each
Offered
16.
Date of
Expiry
Exercise
Balance at
and
Offer
Date
Price
1.1.2004
Accepted
Lapsed
Exercised
Balance at
31.12.2004
12 Apr 2004
11 Apr 2009
RM1.88
10,158,000
(159,000)
9,999,000
17.
18.
DEFERRED TAX
The recognised deferred tax liabilities are as follows:Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
156,892
1,977
(80,326)
(8,140)
(60,026)
(3,353)
(3,906)
151,102
1,977
(86,237)
(59,769)
(3,629)
(346)
1,196
1,881
(737)
(38)
1,881
3,118
3,098
2,302
1,881
81
18.
2004
RM000
2003
RM000
(46)
36,048
665
3,319
268
42,026
39,986
42,294
The unabsorbed capital allowances, unutilised tax losses and unutilised investment tax allowances as well as the deductible
temporary differences do not expire under current tax legislation. Deferred tax assets have not been recognised in respect
of these items as they have arisen in subsidiaries that have a recent history of losses and hence, it is not probable that
future taxable profit will be available against which the Group can utilise the benefits.
The comparative figures have been restated to reflect the revised capital allowances available to the Company.
19.
REVENUE
Group
Cement
Readymixed concrete
Management fees receivable
Interest income
Dividend income
Rental income
20.
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
484,788
80,911
174
131
482,829
78,516
2,696
58
9,860
174
8,650
3,500
9,120
14,077
9,400
1,000
566,004
564,099
22,184
33,597
STAFF COSTS
Included in staff costs of the Group and of the Company is an amount of RM4,158,000 (2003 : RM3,542,000) and RM459,000
(2003 : RM412,000) respectively representing contributions made to the defined contribution plan, the Employees Provident
Fund.
The number of employees of the Group and of the Company (excluding non-executive Directors) at the end of the year was
981 (2003 : 1,024) and 42 (2003 : 31) respectively.
82
21.
OPERATING PROFIT
Operating profit is arrived at:Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
140
66,838
146
66,996
20
2,356
50
2,331
241
30
174
42
30
241
30
174
42
30
540
5
917
297
432
10
1
908
122
540
432
10
1
889
1,192
108
295
670
3,267
87
690
914
91
499
1,638
3,267
610
13,896
15
27
28
571
20
3,500
1,000
824
2,282
1,140
174
2,282
11,381
414
21
8,650
9,400
418
83
794
184
5,062
478
872
12
258
83
21.
22.
34
30
34
21
34
34
64
55
34
34
2004
RM000
2003
RM000
2004
RM000
2003
RM000
1,870
3,718
986
336
8,681
7
352
10,883
413
338
5,177
326
4,384
6,997
132
243
413
149
326
4,384
6,997
15,591
28,877
132
12,512
EXCEPTIONAL ITEM
This represents the provision for amount payable imposed on overselling of cement.
23.
FINANCING COSTS
Group
MUNIF
BAIDS
Kafalah
Bank overdrafts
Lease/hire purchase
Term loan
Revolving credit
Bankers acceptances
Bridging loan
Notes payable
Convertible Secured Loan Stocks (CSLS)
Penalty on early redemption of CSLS
Company
84
24.
TAX EXPENSE
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
1,156
1,098
4,789
630
3,099
1,114
3,721
812
2,254
5,419
4,213
4,533
37
(16)
66
(404)
(17)
438
21
(338)
421
2,275
5,081
4,634
4,533
2003
RM000
Group
Profit before taxation
17,024
25,810
4,767
2,727
(284)
(3,690)
(6,049)
3,741
(19)
7,227
4,057
(1,577)
(3,903)
271
(1,072)
(7)
(141)
1,193
4,855
1,082
226
Tax expense
2,275
5,081
Company
Profit before taxation
8,988
6,388
2,517
822
(254)
(3)
1,789
1,932
3,082
1,552
3,721
812
Tax expense
4,634
4,533
85
24.
25.
26.
DIVIDEND
Group/Company
2004
2003
RM000
RM000
Ordinary
Final paid:
2003 2 sen per share tax exempt and 4 sen
per share less 28% tax (2002 5 sen per share tax exempt)
6,438
6,596
The first and final dividend of 6.5 sen per share less 28% tax, amounting to RM6.174 million (2003 : RM6.438 million) in
respect of the financial year ended 31 December 2004 will be proposed for members approval at the forthcoming Annual
General Meeting.
The dividend per ordinary share as disclosed in the Income Statement takes into account the final proposed dividend for the
financial year. However, these financial statements do not reflect this final dividend which, when approved by members, will
be accounted for as an appropriation of retained profits from the shareholders equity in the financial year ending
31 December 2005.
27.
COMPARATIVE FIGURES
The cash flow statement was previously prepared using the indirect method. As permitted under MASB 5, Cash Flow
Statement, the Group changed its method of presentation to the direct method in the preparation of Cash Flow Statements.
The comparatives have been restated to conform with the current method.
28.
CAPITAL COMMITMENTS
Group
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
28,253
16,442
717
1,246
28,970
17,688
86
29.
Material litigation
NSCI is seeking inter-alia, a declaration that the Collective Agreement dated 19 May 2003 and the Supplemental
Agreement dated 27 June 2003 (the Agreements) signed between NSCI and certain members of the Cement and
Concrete Association and its legal advisors/stakeholders are void and unenforceable.
The amount imposed under the Agreements against NSCI for overselling of cement between January 2003 to June 2003
of RM13.9 million (the said Amount) which is secured against Bank Guarantees have been duly provided for in the
financial statements of NSCI.
The Court of Appeal had on 15 June 2004, unanimously allowed NSCIs appeal with costs thereby granting an
Interlocutory Injunction restraining the Respondents/Defendants from calling in the Bank Guarantees as prayed in the
Summons in Chambers dated 3 October 2003 subject to NSCI providing an undertaking as to damages and the renewal
of the Bank Guarantees before their expiry.
The High Court of Malaya at Kangar had on 13 January 2005 struck out the Defendants application to stay the High
Court proceedings pending reference of the dispute to arbitration with no order as to costs and further adjourned sine
die the application of the Defendants to set aside the Ex-parte Injunction Order dated 23 September 2003 granted to
NSCI by the High Court. The Defendants were ordered to file their respective Defence on or by 18 February 2005. This
date has since been extended to 25 February 2005 by consent.
The solicitors of NSCI are of the opinion that NSCI is not liable to pay the said Amount as the Agreements are void
for contravention of the Control of Supplies Act, 1961 and the Control of Supplies Regulation, 1974.
In accordance with the solicitors advice, NSCI is pursuing the hearing of the High Court case for the aforesaid
declaration.
(b)
87
30.
RELATED PARTIES
Identity of related parties
The Group has a controlling related party relationship with its holding company and ultimate holding company.
The Group also has a related party relationship with subsidiaries, associates, jointly controlled entity and substantial
shareholders.
Key management personnel of the Group are:
There are no transactions with the key management personnel other than the remuneration package paid to them in
accordance with the terms and conditions of their appointment.
Related party transactions
Significant related party transactions other than those disclosed elsewhere in the financial statements are as follows:Company
2004
RM000
2003
RM000
166,000
60
9,800
3,500
60
60
9,000
6,167
1,000
11,381
900
4,000
3,750
900
1,000
7,500
88
30.
Company
2004
RM000
2003
RM000
2004
RM000
2003
RM000
3,474
3,560
3,474
3,560
2,282
74,604
2,282
74,604
435
472
435
472
3,439
827
1,152
368
2,175
6
449
776
12,090
10,233
10,559
The above transactions were entered in the normal course of business and have been established under negotiated terms.
Non-trade balances with holding company and subsidiaries are in respect of advances to or from the Company and are
disclosed in Notes 9 and 11 respectively.
89
31.
32.
90
32.
Group
Effective
interest rate
%
Total
RM000
Within 1
year
RM000
Exceeding
1-5 years
RM000
5 years
RM000
2.53
95,314
95,314
2.60
71,669
71,669
4.20
360,000
30,000
310,000
20,000
Effective
interest rate
%
Total
RM000
Within 1
year
RM000
1-5 years
RM000
2.64
4,214
4,214
2.40
9,253
9,253
2004
Financial Assets
Short term deposits
2003
Financial Assets
Short term deposits
Financial Liabilities
Bridging loan
Company
2004
Financial Assets
Short term deposits
2003
Financial Assets
Short term deposits
91
32.
Group
Carrying
Amount
RM000
2003
Fair Value
RM000
Carrying
Amount
RM000
Fair Value
RM000
5,615
11,743
7,109
14,331
360,000
360,000
Financial assets
Quoted shares
Financial liabilities
Bridging loan
There is no disclosure of fair value for long term MUNIF and BAIDS procured under Islamic banking principles as MASB 24,
Financial Instruments : Disclosure and Presentation does not apply to the recognition, measurement and disclosure of
transactions and events conducted on the basis of Islamic banking principles.
2004
Company
Carrying
Amount
RM000
2003
Fair Value
RM000
Carrying
Amount
RM000
Fair Value
RM000
1,650
1,675
20,307
10,821
Financial assets
Amount due from a subsidiary
Financial liabilities
Amount due to a subsidiary
The fair value of quoted shares is their quoted bid price at the balance sheet date including put option for certain quoted
shares. For other financial instruments listed above other than unquoted shares, fair value has been determined by
discounting the relevant cash flows using current interest rates for similar instruments at the balance sheet date.
*
It is not practical to estimate the fair values of amounts due to/from subsidiaries due principally to a lack of fixed
repayment term entered by the parties involved and without incurring excessive costs.
92
33.
NSCI to have a written agreement with the SC to work at its full capacity to apply and obtain approval to change
the land title in Mukim Jelai, Daerah Jempol, Negeri Sembilan.
b)
AmMerchant Bank Berhad as the lead arranger of the PDS and NSCI to make a quarterly announcement to the
trust holders and parties involved in the PDS and the SC with regards to the approval status of the application.
NSCI has on 13 August 2004 issued the Murabahah Commercial Papers with total nominal value of RM130 million under
the MUNIF and BAIDS with nominal value of RM200 million.
NSCI has been given a time frame of 18 months to fulfil the conditions precedent to the waiver and is in the process
of satisfying the conditions with the Land Office.
33.2Full settlement of Bridging Loan
NSCI has settled its Bridging Loan of RM360 million drawn down on 29 August 2003 in full during the year. NSCI has
repaid a total of RM30 million on 27 March 2004 and the balance of RM330 million settled in full following the issuance
of the Private Debt Securities comprising RM130 million Murabahah Commercial Papers/Medium Term Notes and
RM200 million Bai Bithaman Ajil Islamic Debt Securities on 13 August 2004.
33.3Employee Share Option Scheme (ESOS)
The Securities Commission and the Companys shareholder have, on 25 February 2004 and 4 March 2004 respectively,
approved the ESOS by the Company. Bursa Malaysia Securities Berhad (BMSB) approved the Companys application
for the additional listing of its shares on 9 April 2004. The ESOS was granted on 11 June 2004 at an exercise price of
RM1.88 each.
93
Para Pengarah dengan sukacitanya membentangkan laporan mereka dan penyata kewangan Kumpulan dan Syarikat yang telah
diaudit bagi tahun berakhir 31 Disember 2004.
KEGIATAN UTAMA
Kegiatan utama Syarikat adalah pembekalan khidmat pengurusan dan pegangan pelaburan, manakala kegiatan utama anak-anak
syarikat adalah seperti yang dinyatakan dalam Nota 3 penyata kewangan.
Pada tahun kewangan yang dilaporkan, tidak ada sebarang perubahan ketara dalam kegiatan-kegiatan tersebut.
KEPUTUSAN
Kumpulan
RM000
Syarikat
RM000
13,596
4,354
DIVIDEN
Sejak akhir tahun kewangan yang lepas, Syarikat telah membayar dividen pertama dan terakhir sebanyak 6 sen sesaham yang
mengandungi 2 sen sesaham dikecualikan cukai dan 4 sen sesaham ditolak 28% cukai yang kesemuanya berjumlah RM6,437,734
bagi tahun kewangan berakhir 31 Disember 2003 pada 30 Jun 2004.
Para Pengarah mengesyorkan dividen pertama dan terakhir sebanyak 6.5 sen sesaham ditolak 28% cukai yang kesemuanya
berjumlah RM6,173,893 bagi tahun kewangan berakhir 31 Disember 2004 di mana ia adalah tertakluk kepada kelulusan ahli-ahli
pada Mesyuarat Agung Tahunan Syarikat yang akan datang.
Jumlah keseluruhan saham yang ditawarkan di bawah Skim ini mestilah tidak melebihi 10% daripada saham terbitan dan
berbayar Syarikat atau peratusan maksimum yang dibenarkan oleh pihak berkuasa yang berkenaan pada bila-bila masa
semasa kewujudan Skim ini;
ii)
Skim ini berkuatkuasa sehingga lima (5) tahun bermula dari 12 April 2004, bagaimanapun tertakluk kepada sebarang tempoh
lanjutan Skim yang mungkin dikuatkuasakan oleh Syarikat seperti yang tertera dalam Undang-undang Kecil;
iii)
Mereka yang layak adalah kakitangan dan para Pengarah Eksekutif, yang terlibat dalam pengurusan harian dan penggajian
Kumpulan yang mana mereka telah disahkan sebagai pekerja tetap Kumpulan dan telah berkerja di dalam Kumpulan untuk
jangkamasa yang berterusan sekurang-kurangnya satu (1) tahun penuh dari tarikh tawaran, yang mana tawaran dibuat secara
bertulis kepada pekerja untuk menyertai Skim ini. Para pekerja bukan rakyat Malaysia yang layak adalah mereka yang telah
berkhidmat secara kontrak sekurang-kurangnya dua (2) tahun di dalam Kumpulan, dan kontrak itu masih berterusan;
94
Tarikh
Tawaran
Opsyen-opsyen ke atas bilangan Saham-saham Biasa biasa bernilai RM1 setiap satu
Ditawarkan
Telah
Harga
Baki pada
dan
Dilaksanakan
Baki pada
Opsyen
1.1.2004
Diterima
Luput Penggunaan
31.12.2004
12 Apr 2004
RM1.88
10,158,000
(159,000)
9,999,000
Mereka yang telah diberikan opsyen-opsyen tidak layak untuk menyertai mana-mana penerbitan saham oleh mana-mana syarikat
dalam kumpulan.
Pihak syarikat telah diberikan pengecualian oleh Suruhanjaya Syarikat Malaysia daripada membuat pendedahan di dalam laporan
ini nama-nama pekerja yang telah ditawarkan opsyen-opsyen untuk melanggan kurang daripada 100,000 saham biasa bernilai RM1
setiap satu. Senarai pekerja-pekerja yang ditawarkan opsyen-opsyen untuk melanggan 100,000 atau lebih saham biasa yang
bernilai RM1 setiap satu untuk tahun kewangan adalah seperti berikut:-
Nama
Dato Rosli Sharif
Dato Redzuan Sheikh Ahmad
Mohd Yusof A Rahman
Lee Mow Ting
Mt Nanyan Ismail
Hamidun Hassan
Hakimi Mohamad
Liew Saik Wai
Tarikh
Pemberian
12
12
12
12
12
12
12
12
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
2004
2004
2004
2004
2004
2004
2004
2004
Tarikh
Harga
Luput Perlaksanaan
11
11
11
11
11
11
11
11
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
2009
2009
2009
2009
2009
2009
2009
2009
RM1.88
RM1.88
RM1.88
RM1.88
RM1.88
RM1.88
RM1.88
RM1.88
Jawatankuasa SOSP telah mengesahkan pengagihan opsyen yang telah diberikan sepanjang tahun kewangan.
PENGARAH-PENGARAH SYARIKAT
Para Pengarah yang berkhidmat sejak tarikh laporan yang terakhir ialah:Datuk Abu Hassan Kendut Pengerusi
Dato Rosli Sharif Pengarah Urusan
Ir. Abdullah Yusof
Dato Cheong Keap Tai
Dato Jimin Idris
Zainal Abidin Jamal
Azmanuddin Haq Ahmad
Sundra Rajoo Nadarajah (Dilantik pada 4 Mac 2004)
613,000
188,000
188,000
188,000
188,000
188,000
188,000
188,000
95
Telah
diberikan
(Telah
dijual)
Baki pada
31.12.2004
700,000
640,000
36,000
^54,000
736,000
694,000
50,000
20,000
15,000
15,000
20,000
50,000
20,000
15,000
15,000
20,000
40,000
40,000
5,000
5,000
Kepentingan Langsung
Azmanuddin Haq Ahmad
100,000
100,000
**70,000
70,000
Tiada Pengarah yang memegang jawatan pada 31 Disember 2004 mempunyai sebarang kepentingan dalam saham-saham biasa
Syarikat, syarikat induknya dan syarikat-syarikat yang berhubung kait sepanjang tahun kewangan.
^ berdasarkan peruntukan Skim Equiti Pekerja di bawah skim pencapaian
* saham-saham yang dipegang atas nama pasangan
** pada tarikh pelantikan
96
MANFAAT PENGARAH
Sama ada penghujung tahun kewangan atau pada bila-bila masa dalam tahun tersebut, tidak wujud sebarang persetujuan yang mana
Syarikat adalah satu pihak, yang kerananya para Pengarah mungkin memperoleh manfaat melalui pemerolehan saham-saham, atau
debentur dalam Syarikat tersebut atau badan korporat yang lain, selain daripada yang termaktub dalam Skim Opsyen Saham Pekerja
("SOSP") Syarikat kepada seorang Pengarah Syarikat, Dato Rosli Sharif, yang mana butir-butir adalah seperti berikut:-
Tarikh
Tawaran
12 Apr 2004
RM1.88
613,000
613,000
97
98
Pada pendapat para Pengarah, penyata-penyata kewangan yang dibentangkan pada muka surat 100 hingga 136, telah dibuat
mengikut peruntukan Akta Syarikat, 1965 dan piawaian perakaunan di Malaysia yang diluluskan dan yang boleh diaplikasikan untuk
memberikan gambaran yang benar dan saksama mengenai keadaan urusan Kumpulan dan Syarikat pada 31 Disember 2004 dan
keputusan operasi dan aliran tunai mereka bagi tahun berakhir pada tarikh tersebut.
Ditandatangani menurut satu resolusi para Pengarah:-
PERISYTIHARAN BERKANUN
MENURUT SEKSYEN 169(16) AKTA SYARIKAT, 1965
Saya, MOHD ZAKI HAMDAN, pegawai yang terutamanya bertanggungjawab bagi pengurusan kewangan CEMENT INDUSTRIES OF
MALAYSIA BERHAD, sesungguhnya dan dengan ikhlas mengisytiharkan bahawa penyata-penyata kewangan yang dibentangkan
pada muka surat 100 hingga 136, setakat yang saya maklum dan percaya, adalah betul, dan saya membuat pengisytiharan ini
sesungguhnya dengan mempercayai bahawa ia benar dan menurut peruntukan Akta Perisytiharan Berkanun, 1960.
Ditandatangani dan diisytiharkan dengan sesungguhnya oleh Mohd Zaki Hamdan seperti yang telah dinamakan di atas di Kangar,
Perlis pada 24 Februari 2005.
DI HADAPAN SAYA:
99
LAPORAN JURUAUDIT
KEPADA AHLI-AHLI CEMENT INDUSTRIES OF MALAYSIA BERHAD
(NO. SYARIKAT 11986-T) (DIPERBADANKAN DI MALAYSIA)
Kami telah mengaudit penyata-penyata kewangan yang dibentangkan pada muka surat 100 hingga 136. Penyediaan penyatapenyata kewangan tersebut adalah tanggungjawab para Pengarah Syarikat. Tanggungjawab kami adalah untuk menyatakan
pendapat tentang penyata kewangan tersebut berdasarkan audit yang kami jalankan.
Kami telah menjalankan audit kami mengikut Piawaian Pengauditan di Malaysia yang diluluskan. Piawaian ini memerlukan kami
merancang dan menjalankan audit untuk mendapatkan segala maklumat dan penjelasan yang kami anggap perlu untuk
memberikan kami bukti bagi memberi jaminan yang wajar bahawa penyata-penyata kewangan tersebut adalah bebas daripada
sebarang salah nyata yang ketara. Sesuatu audit yang berasaskan ujian, merangkumi pemeriksaan bukti yang relevan kepada
amaun dan pendedahan di dalam penyata-penyata kewangan. Sesuatu audit juga meliputi penilaian prinsip-prinsip perakaunan
yang digunakan dan anggaran-anggaran penting yang dibuat oleh para Pengarah, serta penilaian kecukupan secara keseluruhan
terhadap pembentangan maklumat dalam penyata-penyata kewangan. Kami percaya bahawa audit kami menyediakan asas yang
wajar untuk pendapat kami.
Pada pendapat kami:a)
penyata-penyata kewangan telah disediakan dengan betul mengikut peruntukan Akta Syarikat, 1965 dan piawaian perakaunan
di Malaysia yang diluluskan dan yang boleh diaplikasikan untuk memberikan gambaran yang benar dan saksama tentang:i)
kedudukan Kumpulan dan Syarikat pada 31 Disember 2004 dan keputusan operasi dan aliran tunai mereka bagi tahun
kewangan berakhir pada tarikh tersebut; dan
ii)
perkara-perkara yang dituntut oleh Seksyen 169 Akta Syarikat, 1965 yang perlu ditangani dalam penyata-penyata
kewangan Kumpulan dan Syarikat;
dan
b)
rekod perakaunan dan rekod lain serta daftar yang dituntut oleh Akta Syarikat, 1965 yang yang perlu disimpan oleh Syarikat
dan anak-anak syarikat telah disediakan dengan betul selaras dengan peruntukan Akta tersebut.
Kami berpuas hati bahawa penyata-penyata kewangan anak-anak syarikat yang telah disatukan dengan penyata-penyata kewangan
Syarikat adalah dalam bentuk dan kandungan yang sesuai dan betul untuk tujuan penyediaan penyata-penyata kewangan yang
disatukan dan kami telah menerima maklumat serta penjelasan yang dikehendaki oleh kami dengan sewajarnya untuk tujuan
tersebut.
Laporan-laporan audit mengenai penyata-penyata kewangan anak-anak syarikat tidak tertakluk kepada sebarang kelayakan dan
tidak mengandungi sebarang ulasan yang dibuat di bawah Seksyen 174, seksyen kecil (3) Akta tersebut.
KPMG
No Firma: AF 0758
Akauntan Bertauliah
NG SWEE WENG
Rakan Kongsi
No Kelulusan: 1414/03/06 (J/PH)
Pulau Pinang,
Tarikh: 24 Februari 2005
100
KUNCI KIRA-KIRA
PADA 31 DISEMBER 2004
Liabiliti Semasa
Pemiutang perdagangan dan pemiutang lain
Pinjaman
Peruntukan
Manfaat persaraan
Pencukaian
Nota
2004
RM000
Kumpulan
2003
RM000
2004
RM000
2003
RM000
2
3
4
5
6
7
9
736,941
1,202
1,173
5,615
69,961
783,511
330
600
7,109
73,228
21,701
624,568
872
600
1,650
22,777
624,568
600
1,675
8
9
89,980
103,687
4,062
124,080
83,284
92,771
3,348
97,376
5,326
2,066
5,002
17,508
3,063
9,859
321,809
276,779
12,394
30,430
75,567
41,199
20,839
407
641
64,918
30,755
13,896
1,152
2,008
1,868
27,556
427
138,653
112,729
1,871
27,985
183,156
164,050
10,523
2,445
998,048
1,028,828
659,914
652,065
131,921
219,868
328,980
131,921
219,868
321,822
131,921
219,868
285,464
131,921
219,868
287,548
680,769
673,611
637,253
639,337
10
11
12
13
14
Syarikat
15
16
17
15,151
14,430
11
12
14
18
291,467
7,543
3,118
330,799
6,890
3,098
20,307
52
2,302
10,821
26
1,881
998,048
1,028,828
659,914
652,065
Penyata-penyata kewangan telah pun dilulus dan dibenarkan oleh Lembaga Pengarah pada 24 Februari 2005 untuk diterbitkan.
Nota yang dibentangkan pada muka surat 106 hingga 136 membentuk sebahagian penting daripada penyata kewangan ini, dan
seharusnya dibaca bersama.
101
PENYATA PENDAPATAN
BAGI TAHUN BERAKHIR 31 DISEMBER 2004
Nota
Hasil
Pendapatan operasi lain
19
20
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
566,004
4,275
564,099
7,525
22,184
8
33,597
325
570,279
571,624
22,192
33,922
(4,969)
(197,372)
(43,551)
(70,105)
(223,112)
(6,994)
(177,031)
(42,093)
(70,263)
(219,594)
(3,805)
(2,356)
(6,911)
(3,522)
(2,331)
(9,169)
(539,109)
(515,975)
(13,072)
(15,022)
Keuntungan operasi
21
31,170
55,649
9,120
18,900
Kos pembiayaan
Bahagian keuntungan/(kerugian) dalam syarikat bersekutu
Bahagian keuntungan dalam entiti yang dikawal bersama
23
(15,591)
872
573
(28,877)
(962)
(132)
(12,512)
17,024
25,810
8,988
6,388
(2,275)
(5,081)
(4,634)
(4,533)
14,749
(1,153)
20,729
(1,749)
4,354
1,855
13,596
18,980
4,354
1,855
6.5 sen
6.0 sen
24
25
10.3 sen
14.4 sen
26
6.5 sen
6.0 sen
Nota yang dibentangkan pada muka surat 106 hingga 136 membentuk sebahagian penting daripada penyata kewangan ini, dan
seharusnya dibaca bersama.
102
Modal
Saham
RM000
Premium
Saham yang
Tidak Boleh
Diagihkan
RM000
Keuntungan
Tersimpan
yang Boleh
Diagihkan
RM000
Jumlah
RM000
131,921
219,868
309,438
661,227
18,980
18,980
(6,596)
(6,596)
131,921
219,868
321,822
673,611
13,596
13,596
(6,438)
(6,438)
131,921
219,868
328,980
680,769
Nota
Pada 1 Januari 2003
26
Nota yang dibentangkan pada muka surat 106 hingga 136 membentuk sebahagian penting daripada penyata kewangan ini, dan
seharusnya dibaca bersama.
103
Modal
Saham
RM000
Premium
Saham yang
Tidak Boleh
Diagihkan
RM000
Keuntungan
Tersimpan
yang Boleh
Diagihkan
RM000
Jumlah
RM000
131,921
219,868
292,289
644,078
1,855
1,855
(6,596)
(6,596)
131,921
219,868
287,548
639,337
4,354
4,354
(6,438)
(6,438)
131,921
219,868
285,464
637,253
Nota
Pada 1 Januari 2003
26
Nota yang dibentangkan pada muka surat 106 hingga 136 membentuk sebahagian penting daripada penyata kewangan ini, dan
seharusnya dibaca bersama.
104
2004
RM000
Kumpulan
2003
RM000
Syarikat
2004
RM000
2003
RM000
463,736
(328,470)
(42,310)
477,016
74,904
(307,100)
(40,712)
13,300
(12,083)
(3,763)
9,920
74,904
(8,598)
(3,426)
92,956
824
(4,336)
204,108
3,422
(3,340)
(2,546)
6,228
174
(794)
72,800
6,768
14,077
(1,286)
89,444
204,190
3,062
92,359
(10,949)
481
1,577
(29,302)
21
2,031
529
(1,280)
(1,131)
15,032
(22,713)
(4,442)
(31,604)
(31,163)
(1,280)
13,901
(1,388)
(6,438)
(432)
(15,591)
(30,000)
(1,182)
(6,596)
(432)
(21,880)
(172,997)
360,000
(257,710)
(18,000)
(427)
(6,438)
(132)
358
(876)
(6,596)
(5,515)
166,000
(172,997)
(20,560)
(45,393)
(18,000)
(53,849)
(118,797)
(6,639)
(103,937)
3,991
54,230
(4,857)
2,323
86,460
32,230
9,859
7,536
90,451
86,460
5,002
9,859
Peningkatan/(Pengurangan) bersih
dalam tunai dan setara tunai
105
(i)
(ii)
(a)
(b)
sejumlah RM6,943,000 mewakili peruntukan bagi premium penukaran tanah yang dijadikan modal di bawah penggunaan
pegangan pajakan jangka panjang; dan
(c)
(iii)
(a)
penerbitan SHP yang merangkumi penerbitan Kemudahan Penerbitan Nota Murabahah (KPNM) sebanyak RM130 juta
dan Sekuriti Hutang Secara Islam Bai Bithaman Ajil (SHIBBA) sebanyak RM200 juta yang menjadikan jumlah RM330
juta; dan
(b)
(iv)
(b)
Syarikat
Sepanjang tahun yang dilaporkan, Syarikat telah menjual loji dan peralatan berjumlah RM286,366,000 dan inventori-inventori
sebanyak RM44,795,000 kepada salah satu anak syarikat penuhnya, Negeri Sembilan Cement Industries Sdn Bhd (NSCI),
untuk penukaran dengan 331,161,000 saham-saham yang diterbitkan oleh NSCI. Baki loji dan peralatan yang berjumlah
RM14,774,000 telah dipindahkan kepada sebuah lagi anak syarikat, Pemasaran Simen Negara Sdn Bhd (PSN), untuk tunai
berjumlah RM15,032,000.
(v)
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
61,685
28,766
60,753
25,707
4,214
788
9,253
606
90,451
86,460
5,002
9,859
Nota yang dibentangkan pada muka surat 106 hingga 136 membentuk sebahagian penting daripada penyata kewangan ini, dan
seharusnya dibaca bersama.
106
1.
Asas perakaunan
Penyata kewangan Kumpulan dan Syarikat disediakan atas dasar kos sejarah kecuali seperti yang didedahkan dalam
nota-nota kepada penyata kewangan dan dengan mematuhi peruntukan Akta Syarikat, 1965 serta piawaian perakaunan
yang telah diluluskan bagi kegunaan di Malaysia.
(b)
Asas penyatuan
Anak-anak syarikat adalah syarikat-syarikat perusahaan yang dikawal oleh Syarikat. Kawalan dianggap wujud apabila
Syarikat mempunyai kuasa, sama ada secara langsung atau tidak langsung, untuk mentadbir dasar-dasar kewangan dan
operasi syarikat perusahaan tersebut demi mendapatkan manfaat daripada kegiatannya. Penyata-penyata kewangan
anak-anak syarikat dimasukkan ke dalam penyata-penyata kewangan yang disatukan dari tarikh kawalan bermula secara
efektif, sehingga tarikh kawalan tamat secara efektif. Anak-anak syarikat adalah disatukan menggunakan kaedah
perakaunan pengambilalihan.
Sesebuah anak syarikat dikecualikan daripada penyatuan samada sekiranya kawalan dianggap sebagai sementara
jika/kerana anak syarikat dibeli dan dipegang dengan tujuan khusus untuk dijual semula dalam tempoh terdekat dan ia
belum pernah disatukan sebelum ini, atau sekiranya ia beroperasi di bawah sekatan jangka panjang yang ketat, yang
menjejaskan keupayaannya untuk memindahkan dana kepada Syarikat dengan nyata. Anak-anak syarikat yang
dikecualikan atas dasar ini diperakaunkan sebagai pelaburan.
Menurut kaedah perakaunan pengambilalihan, keputusan anak syarikat yang dibeli atau dijual dalam tahun yang
dilaporkan dimasukkan dan para tarikh pengambilalihan atau sehingga tarikh jualan. Pada tarikh pengambilalihan, nilai
saksama aset bersih anak-anak syarikat akan ditentukan dan nilai-nilai tersebut dipaparkan dalam penyata-penyata
kewangan Kumpulan. Perbezaan antara kos pengambilalihan dan nilai saksama aset bersih anak-anak syarikat
dicatatkan sebagai muhibah atau muhibah negatif, yang mana bersesuaian.
Urus niaga dan baki antara kumpulan dan keuntungan belum direalisasikan daripada urusniaga tersebut disingkirkan
semasa penyatuan. Kerugian belum direalisasikan yang ditanggung akibat urusniaga antara kumpulan juga disingkirkan
melainkan kos tidak dapat diperolehi semula.
(c)
Syarikat-syarikat bersekutu
Syarikat-syarikat bersekutu adalah perusahaan-perusahaan yang mana Kumpulan mempunyai pengaruh penting, tetapi
tiada kawalan ke atas dasar-dasar kewangan dan operasinya.
Penyata-penyata kewangan yang telah disatukan termasuk jumlah keuntungan dan kerugian syarikat bersekutu yang
diperakaunkan berasaskan ekuiti dari tarikh pengaruh penting bermula secara efektif sehingga tarikh pengaruh penting
tersebut tamat secara efektif.
Keuntungan belum direalisasikan yang timbul daripada urus niaga-urus niaga antara Kumpulan dan syarikat-syarikat
bersekutunya, yang dimasukkan dalam amaun dibawa bagi aset-aset dan liabiliti-liabiliti yang berkaitan, akan
disingkirkan sebahagiannya, sehingga ke takat kepentingan Kumpulan dalam syarikat-syarikat bersekutu. Kerugiankerugian belum direalisasikan atas urus niaga-urus niaga tersebut juga disingkirkan sebahagiannya, melainkan kos tidak
dapat diperolehi semula.
Muhibah atas pengambilalihan adalah dikira berdasarkan nilai saksama aset bersih yang diambil alih.
(d)
107
1.
(f)
2%
4%
1.75%
10%
33 1/3%
10%
Muhibah
Muhibah ialah lebihan daripada antara kos pengambilalihan ke atas nilai saksama aset bersih yang diperolehi yang telah
diambil alih dan ianya dinyatakan pada kos ditolak pelunasan terkumpul dan kerugian akibat kemerosotan nilai
terkumpul, jika ada.
Muhibah dilunaskan daripada tarikh ia diiktiraf ke atas hayat guna anggarannya selama 25 tahun.
Berkenaan syarikat-syarikat bersekutu dan entiti-entiti yang dikawal bersama, amaun dibawa bagi muhibah adalah
dimasukkan dalam amaun dibawa untuk pelaburan dalam syarikat bersekutu atau entiti yang dikawal bersama.
Muhibah negatif mewakili lebihan daripada nilai saksama bagi aset-aset bersih yang boleh dikenalpasti yang telah dibeli
ke atas kos pembelian tersebut.
(g)
Pajakan kewangan
Sebarang pajakan yang mana Kumpulan dan Syarikat menanggung sebahagian besar daripada risiko dan manfaat
pemilikan diklasifikasikan sebagai pajakan kewangan. Aset yang diperolehi menerusi pajakan kewangan dinyatakan pada
amaun yang bersamaan dengan nilai saksama atau nilai semasa, pembayaran minimum pajakan pada permulaan
pajakan, yang mana lebih rendah, ditolak susut nilai terkumpul dan kerugian-kerugian akibat kemerosotan nilai.
Apabila mengira nilai semasa pembayaran minimum pajakan, kadar diskaun ialah kadar faedah yang tersirat dalam
pajakan tersebut, sekiranya pengiraan dapat dibuat secara praktikal. Jika tidak, kadar pinjaman pertambahan Kumpulan
akan digunakan.
(h)
Pelaburan
Selain daripada pelaburan dalam anak syarikat, syarikat bersekutu dan syarikat usahasama, pelaburan jangka panjang
dinyatakan pada kos. Peruntukan dibuat apabila para Pengarah berpendapat bahawa terdapat penyusutan nilai yang
bukan bersifat sementara.
Pelaburan jangka panjang dalam anak syarikat, syarikat bersekutu dan syarikat usahasama dinyatakan pada kos dalam
Syarikat ditolak kerugian-kerugian akibat kemerosotan nilai, di mana ianya boleh diaplikasikan.
(i)
108
1.
Liabiliti
Pemiutang perdagangan serta pemiutang lain dan amaun yang patut dibayar kepada anak syarikat adalah dinyatakan
pada kos.
(k)
Peruntukan
Peruntukan diiktiraf apabila terdapat aliran keluar sumber membentuk ganjaran ekonomi yang akan diperlukan untuk
menyelesaikan tanggungan semasa (perundangan atau konstruktif) disebabkan oleh peristiwa yang lepas dan sebuah
anggaran yang boleh dipercayai boleh dibuat terhadap amaun tersebut.
(l)
Manfaat pekerja
(i)
Manfaat jangka pendek
Upah, gaji, bonus dan sumbangan keselamatan sosial diiktiraf sebagai perbelanjaan dalam tahun yang mana
perkhidmatan-perkhidmatan berkaitan tersebut telah dibekalkan oleh para pekerja Kumpulan. Ketidakhadiran
berganti rugi terkumpul jangka pendek seperti cuti tahunan berbayar diiktiraf apabila perkhidmatan yang dibekalkan
oleh para pekerja meningkatkan kelayakan mereka untuk ketidakhadiran berganti rugi di masa hadapan, dan
ketidakhadiran berganti rugi tidak terkumpul jangka pendek seperti cuti sakit diiktiraf apabila ketidakhadiran
berlaku.
(ii)
(iii)
(iv)
(v)
Manfaat penamatan
Kumpulan membayar manfaat penamatan untuk kes-kes penamatan pekerjaan dalam lingkungan rangka kerja
penstrukturan semula. Manfaat perkhidmatan diiktiraf sebagai liabiliti dan perbelanjaan apabila Kumpulan
mempunyai sebuah pelan formal dan terperinci untuk penamatan, dan tidak mempunyai kemungkinan yang realistik
untuk ditarik balik.
109
1.
Inventori
Bahan mentah, kerja dalam perlaksanaan dan inventori pengeluaran siap dinyatakan pada kos atau nilai bersih yang
boleh direalisasikan, yang mana lebih rendah dengan kos purata berwajaran sebagai asas bagi kos. Bagi kerja dalam
pelaksanaan dan inventori pengeluaran siap, kos terdiri daripada bahan-bahan, buruh langsung dan overhed
pengeluaran tetap dan berubah dalam nisbah yang berpatutan. Bahan-bahan gunaan dinyatakan pada kos.
(o)
(p)
Kemerosotan nilai
Amaun dibawa bagi aset, selain daripada inventori dan aset kewangan (selain daripada pelaburan dalam anak syarikat,
syarikat bersekutu dan syarikat usaha sama), adalah diteliti pada setiap tarikh kunci kira-kira untuk menentukan sama
ada terdapat sebarang tanda-tanda kemerosotan nilai. Sekiranya terdapat tanda-tanda kemerosotan nilai, jumlah yang
boleh dikutip bagi aset tersebut akan dianggarkan. Kerugian akibat kerosakan akan diiktiraf apabila amaun dibawa oleh
aset atau unit penghasilan tunai daripada mana ianya berasal melebihi amaun yang boleh diperolehi semula. Kerugian
akibat kemerosotan nilai diiktiraf dalam penyata pendapatan, kecuali jika aset tersebut dibawa pada amaun penilaian
semula. Dalam kes ini, kerugian akibat kemerosotan nilai akan dicajkan kepada ekuiti.
Amaun yang boleh diperolehi semula adalah harga jualan bersih aset atau nilai yang digunakan bagi aset tersebut yang
mana lebih besar. Dalam menentukan nilai yang digunakan, jangkaan aliran tunai masa hadapan didiskaunkan kepada
nilai semasanya dengan menggunakan kadar diskaun pra-cukai yang mencerminkan penilaian pasaran semasa bagi nilai
masa wang dan risiko yang khusus terhadap aset tersebut. Bagi aset yang tidak menghasilkan aliran tunai yang
sebahagian besarnya mandiri, nilai yang boleh diperolehi adalah ditentukan untuk unit penghasilan tunai daripada mana
aset itu berasal.
Kerugian akibat kemerosotan nilai dalam perihal muhibah tidak akan dibatalkan kecuali kerugian tersebut telah
diakibatkan oleh peristiwa luaran yang khusus yang bersifat luar biasa yang tidak dijangkakan untuk berulang dan
peristiwa luaran yang berikutnya telah berlaku lalu membatalkan kesan peristiwa tersebut.
Dalam perihal aset-aset lain, kerugian akibat kemerosotan nilai dibatalkan sekiranya terdapat perubahan dalam anggaran
yang telah digunakan bagi menentukan amaun yang boleh diperolehi semula
Kerugian akibat kemerosotan nilai dibatalkan hanya setakat amaun dibawa oleh aset tidak melebihi amaun dibawa yang
sepatutnya telah pun ditentukan, ditolak susut nilai atau pelunasan, sekiranya tiada kerugian akibat kemerosotan nilai
telah diiktiraf. Pembatalan tersebut diiktiraf dalam penyata pendapatan, kecuali ianya telah membatalkan kerugian akibat
kemerosotan nilai ke atas aset yang telah dinilai semula. Dalam kes ini, kerugian akibat kemerosotan nilai akan dicajkan
kepada ekuiti.
(q)
Pinjaman
Pinjaman pada awalnya diiktiraf berdasarkan pendapatan yang diterima. Kos sampingan yang terhasil daripada penerbitan
Sekuriti Hutang Persendirian dan komisyen jaminan Kafalah yang dibayar dahulu dijadikan modal dan dilunaskan secara
kaedah garis lurus ke atas tempoh pinjaman selama tujuh (7) tahun dan satu (1) tahun, yang mana sesuai.
(r)
Cukai pendapatan
Cukai ke atas keuntungan atau kerugian bagi tahun yang dilaporkan merangkumi cukai semasa dan tertunda. Cukai
pendapatan diiktiraf dalam penyata kewangan kecuali sehingga ianya berhubung kait dengan perkara-perkara yang telah
diiktiraf secara langsung dalam ekuiti, yang mana ianya diktiraf dalam ekuiti.
110
1.
(s)
Dollar AS
Dollar Singapura
Euro
(t)
(u)
2004
2003
3.80
2.35
5.13
3.80
2.19
4.55
Pengiktirafan pendapatan
i)
Jualan barangan
Hasil daripada jualan barangan diukur pada nilai saksama bayaran yang akan diterima dan diiktiraf dalam penyata
pendapatan apabila risiko dan manfaat penting pemilikan telah dipindahkan kepada pembeli.
ii)
iii)
Perbelanjaan
(i)
Pembayaran pajakan operasi
Pembayaran yang dibuat untuk pajakan operasi diiktiraf dalam penyata pendapatan mengikut kaedah garis lurus
sepanjang tempoh pajakan. Insentif pajakan yang diterima diiktiraf dalam penyata pendapatan sebagai sebahagian
daripada jumlah keseluruhan pembayaran pajakan yang dibuat.
(ii)
Kos pembiayaan
Semua kos faedah dan kos lain yang ditanggung berhubung dengan pinjaman dicatatkan sebagai belanja apabila
ditanggung. Komponen faedah bagi pembayaran pajakan kewangan diiktiraf dalam penyata pendapatan supaya
ianya memberikan kadar faedah berkala tetap ke atas liabiliti yang belum dijelaskan pada akhir setiap
tempoh perakaunan.
111
2.
Tanah
pegangan
Bebas
RM000
Tanah
pegangan
pajak
jangka
panjang
RM000
Tanah
pegangan
pajak
jangka
pendek
RM000
Bangunan
RM000
21,889
2,034
9,619
21,146
5,626
1,277,594
25,387
9,190
1,359,393
16,403
Penambahan
Jualan
Pengklasifikasian semula
Pelupusan
6,943
523
654
1,724
(1,694)
25,003
(543)
11,202
(25,657)
20,392
(1,694)
(543)
28,832
2,034
9,619
22,323
5,626
1,302,084
10,932
9,190
1,377,548
16,403
3,311
28,832
11,653
27,949
1,302,084
10,932
9,190
1,393,951
pada penilaian
1,843
536
3,661
9,449
3,669
571,350
1,777
584,955
7,330
256
213
1,490
(5)
63,547
(1,673)
(435)
1,332
66,838
(1,678)
(435)
pada penilaian
2,099
573
3,837
10,807
3,796
632,789
3,109
649,377
7,633
2,099
14,603
4,410
632,789
3,109
657,010
26,733
1,461
5,782
11,516
1,830
669,295
10,932
6,081
728,171
8,770
3,311
26,733
7,243
13,346
669,295
10,932
6,081
736,941
20,046
1,498
5,958
11,697
1,957
706,244
25,387
7,413
774,438
9,073
3,311
20,046
7,456
13,654
706,244
25,387
7,413
783,511
224
213
1,454
63,517
1,588
66,996
Loji Perbelanjaan
peralatan
modal
dan
dalam Pembangunan
kenderaan pelaksanaan
Kuari
RM000
RM000
RM000
Jumlah
RM000
Kos/Penilaian
112
2.
Tanah
pegangan
bebas
RM000
Tanah
pegangan
pajak
jangka
panjang
RM000
Tanah
pegangan
pajak
jangka
pendek
RM000
Bangunan
RM000
Loji Perbelanjaan
peralatan
modal
dan
dalam
kenderaan pelaksanaan
RM000
RM000
Jumlah
RM000
Kos/Penilaian
Pada 1 Januari 2004
pada kos
pada penilaian
Penambahan
Pengklasifikasian semula
2,003
797
889
2,034
9,619
10,950
2,986
219
186
11,680
86
995
206
975
(1,181)
27,762
13,402
1,280
2,003
797
889
2,034
9,619
11,355
2,986
12,761
29,042
13,402
2,800
889
11,653
14,341
12,761
42,444
157
536
3,661
6,521
2,349
5,163
12,377
6,010
14
213
448
1,681
2,356
171
573
3,837
6,842
2,476
6,844
14,430
6,313
171
4,410
9,318
6,844
20,743
2,003
797
718
1,461
5,782
4,513
510
5,917
14,612
7,089
2,800
718
7,243
5,023
5,917
21,701
2,003
797
732
1,498
5,958
4,429
637
6,517
206
15,385
7,392
2,800
732
7,456
5,066
6,517
206
22,777
213
595
1,509
2,331
113
2.
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
277
1,059
964
277
1,109
998
242
1,059
242
1,109
2,300
2,384
1,301
1,351
Cagaran
Tanah milik Syarikat dengan nilai buku bersih berjumlah RM11 juta dan tanah serta aset anak syarikat dengan nilai buku
bersih berjumlah RM689 juta telah dicajkan kepada bank sebagai cagaran bagi tujuan pinjaman. Maklumat terperinci
dijelaskan dalam Nota 12 penyata kewangan.
Loji dan peralatan yang telah dipajak
Termasuk dalam loji dan peralatan Kumpulan ialah loji dan peralatan yang dibiayai menerusi perjanjian pajakan dengan nilai
buku bersih RM3.4 juta (2003: RM3.9 juta).
Kumpulan memajak loji dan peralatan tertentu di bawah beberapa perjanjian pajakan kewangan. Pada akhir setiap pajakan,
Kumpulan mempunyai pilihan untuk membeli loji dan peralatan pada harga yang telah ditetapkan seperti yang dinyatakan
dalam perjanjian pajakan. Pembayaran pajakan tidak termasuk sewa luar jangka. Tiada sekatan atas dividen, penambahan
hutang, dan pajakan yang selanjutnya dikenakan oleh perjanjian pajakan.
3.
2004
RM000
2003
RM000
625,368
(800)
625,368
(800)
624,568
624,568
114
3.
4.
Tempat
Penubuhan
Peratus Ekuiti
Yang Dipegang
2004
2003
%
%
Kegiatan Utama
Negeri Sembilan
Cement Industries
Sdn Bhd
Malaysia
100
100
Pemasaran Simen
Negara Sdn Bhd
Malaysia
100
100
Malaysia
51
51
Malaysia
100
100
Pegangan pelaburan
Malaysia
60
60
Malaysia
100
100
Malaysia
100
100
Pegangan pelaburan
Malaysia
100
100
Tidak beroperasi
Kumpulan
2003
RM000
Syarikat
2004
RM000
2003
RM000
23,320
(22,118)
23,320
(22,990)
20,000
(19,128)
20,000
(20,000)
1,202
330
872
1,202
330
115
4.
5.
Kegiatan
Utama
Tahun Kewangan
Berakhir
Malaysia
20.0
20.0
Pengendalian dan
pegangan pelaburan
31 Dis
Buildcon Cimaco
Concrete Sdn Bhd
Malaysia
49.5
49.5
Pengilangan konkrit
siap campur
30 Jun
Kumpulan
2003
RM000
2004
RM000
2003
RM000
600
573
600
600
600
1,173
600
600
600
2004
RM000
Kumpulan
2003
RM000
Syarikat
4,174
(3,601)
573
Aset semasa
Aset jangka panjang
Liabiliti semasa
1,214
451
(492)
600
Aset bersih
1,173
600
116
5.
Prestige Packages
(Perlis) Sdn Bhd
6.
Tempat
Penubuhan
Malaysia
Kepentingan Efektif
Kumpulan
2004
2003
%
%
Kegiatan
Utama
30.0
Pengilangan dan
penjualan beg simen
30.0
Tahun Kewangan
Berakhir
31 Mac
PELABURAN LAIN
2004
RM000
Kumpulan
2003
RM000
5,615
7,109
11,743
14,331
Saham yang disebut harga bernilai RM5.2 juta (2003 : RM5.2 juta) adalah tertakluk kepada tempoh moratorium selama tiga (3)
tahun bermula daripada 13 Disember 2001 dan tempoh moratorium tersebut telah tamat pada tarikh kunci kira-kira.
7.
Kumpulan
2003
RM000
83,883
83,883
(10,655)
(3,267)
(7,388)
(3,267)
(13,922)
(10,655)
69,961
73,228
Kos
Baki pada awal dan akhir tahun
Perlunasan Terkumpul
117
8.
INVENTORI
Bahan-bahan mentah
Kerja dalam pelaksanaan
Inventori pengeluaran siap
2004
RM000
Kumpulan
2003
RM000
6,618
13,200
7,365
5,439
16,884
8,650
27,183
30,973
14,480
48,317
9,223
43,088
62,797
52,311
89,980
83,284
Storan-storan am sebanyak RM5.5 juta (2003 : RM5.5 juta) dibawa pada nilai bersih yang boleh direalisasikan.
9.
Kumpulan
2003
RM000
2004
RM000
2003
RM000
87,914
81,127
134
537
15,102
134
537
2,367
8,606
4,691
635
16,665
843
15,773
11,644
5,326
17,508
103,687
92,771
5,326
17,508
1,650
1,675
Termasuk dalam penghutang, deposit dan bayaran terdahulu lain ialah:Kos sampingan daripada penerbitan
Sekuriti Hutang Persendirian ("SHP")
2,999
Pembayaran terdahulu komisen jaminan Kafalah
1,576
4,575
Penghutang perdagangan
Penghutang lain
- Syarikat induk
- Anak-anak syarikat
- Syarikat bersekutu
- Entiti yang dikawal bersama
- Penghutang, deposit dan bayaran terdahulu lain
Bukan semasa
Anak syarikat
Syarikat
Kos sampingan daripada penerbitan SHP dan pembayaran terdahulu komisen jaminan Kafalah yang berkaitan dengan SHP
dijadikan modal dan dilunaskan ke atas tempoh pinjaman 7 tahun dan 1 tahun, yang mana bersesuaian.
118
9.
10.
Kumpulan
2003
RM000
2004
RM000
2003
RM000
95,314
28,766
71,669
25,707
4,214
788
9,253
606
124,080
97,376
5,002
9,859
Syarikat
Termasuk dalam deposit jangka pendek dengan bank-bank berlesen Kumpulan ialah RM33.629 juta (2003 : RM10.916 juta)
dicagarkan untuk kemudahan bank yang diberikan kepada anak syarikat tertentu.
11.
Pemiutang Perdagangan
Pemiutang dan perbelanjaan terakru lain
Anak-anak syarikat
Entiti yang dikawal bersama
Pendapatan tertunda
Lain-lain
Bukan semasa
Anak syarikat
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
25,055
15,095
1,735
442
48,335
560
442
48,821
1,868
21,127
6,429
75,567
64,918
1,868
27,556
20,307
10,821
Amaun-amaun semasa yang perlu dibayar kepada anak-anak syarikat tidak dikenakan faedah, tidak bercagar dan tiada syarat
tetap bagi pembayaran balik. Amaun bukan semasa yang perlu dibayar kepada anak-anak syarikat tidak dikenakan faedah,
tidak bercagar dan tidak perlu dibayar dalam tempoh setahun.
119
12.
PINJAMAN
Semasa:
Pinjaman Sementara
tidak bercagar
Sekuriti Hutang Islam Bai Bithaman Ajil
(SHIBBA), bercagar
Tanggungan pajakan dan sewa beli
Bukan Semasa:
Pinjaman Sementara
tidak bercagar
Kertas Komersial Murabahah/Nota Jangka Sederhana
(KPNM), bercagar
SHIBBA, bercagar
Tanggungan pajakan dan sewa beli
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
30,000
40,000
1,199
755
427
41,199
30,755
427
330,000
130,000
160,000
1,467
799
291,467
330,799
Bahagian keuntungan
KPNM, SHIBBA dan Kafalah
KPNM tertakluk kepada julat bahagian keuntungan dari 3.5% hingga 4.0% setahun manakala SHIBBA tertakluk kepada julat
bahagian keuntungan dari 4.2% hingga 6.0% setahun. Kemudahan Kafalah (Jaminan Bank) tertakluk kepada jaminan
komisyen sebanyak 1.25% setahun ke atas amaun jaminan yang telah dikeluarkan.
Kadar faedah
Pajakan/sewa beli
Pajakan dan sewa beli adalah berdasarkan kepada kadar faedah tetap antara 3.85% hingga 5.10% (2003: 5% hingga 6%)
setahun.
Terma-terma pembayaran balik
Murabahah dan SHIBBA
Penerbitan SHP oleh Negeri Sembilan Cement Industries Sdn Bhd (NSCI) merangkumi penerbitan KPNM sebanyak RM130
juta dan SHIBBA sebanyak RM200 juta yang telah diterbitkan pada penghujung tahun kewangan.
KPNM menyelia penerbitan Kertas Komersil (KK) dengan julat tempoh matang antara satu (1) hingga dua belas (12) bulan
dan Nota Jangka Sederhana (NJS) dengan julat tempoh matang antara satu (1) hingga tujuh (7) tahun. Semasa dalam
tempoh sedia ada hingga tujuh (7) tahun, Penerbit boleh menerbitkan KK atau NJS mengikut pilihannya melalui mekanisma
tender atau penerbitan persendirian yang dipersetujui bersama.
SHIBBA adalah sebuah program Sekuriti Hutang Islam yang mengaplikasikan prinsip Bai Bithaman Ajil atau Jualan
Pembayaran Tertangguh. Untuk menyelia pembiayaan di bawah prinsip Bai Bithaman Ajil, Pelanggan Utama ("AmMerchant")
harus pada mulanya membeli daripada Penerbit ("NSCI") Aset Yang Dikenalpasti pada Harga Belian. Aset-aset tersebut
kemudiannya harus dijual semula kepada Penerbit pada Harga Jualan yang merangkumi Harga Belian dan julat keuntungan
yang dipersetujui antara Penerbit dan Pelanggan Utama. Harga Jualan perlu dibayar oleh Penerbit dalam tempoh yang telah
dipersetujui secara ansuran tertangguh.
120
12.
PINJAMAN (SAMB.)
Hutang yang timbul daripada jualan yang berikutnya harus dibuktikan dengan cara penerbitan nota perjanjian boleh runding
dan tanpa faedah (Nota BBA). Nota BBA ini dikenali sebagai Syahadah Al-Dayn yang bermaksud Sijil Hutang dan boleh
didagangkan dalam pasaran sekunder di bawah prinsip Syariah Bai Al-Dayn.
Terma-terma pembayaran balik
KPNM dan SHIBBA
Tempoh sedia ada program KPNM adalah sehingga tujuh (7) tahun daripada tarikh penerbitan pertama dan adalah
berdasarkan kepada Jadual Pengurangan Had Kemudahan seperti berikut:Dari tarikh
penerbitan pertama
Tahun
Tahun
Tahun
Tahun
Tahun
Tahun
Tahun
pertama
kedua
ketiga
keempat
kelima
keenam
ketujuh
Tahap
(RM juta)
Tahap Terkumpul
(RMjuta)
10.0
10.0
40.0
40.0
30.0
130.0
130.0
120.0
110.0
70.0
30.0
Sifar
Takat
Takat
Takat
Takat
Takat
Takat
1
2
3
4
5
Tempoh
(Tahun)
Bahagian Pokok
(Nota BBA Utama)
(RMjuta)
1
2
3
4
5
40.0
40.0
50.0
50.0
20.0
121
12.
PINJAMAN (SAMB.)
Analisis pembayaran balik
Tanggungan pajakan dan sewa beli
Tanggungan pajakan kewangan/sewa beli adalah perlu dibayar seperti berikut:-
Kumpulan
Kurang daripada 1 tahun
Antara 1 dan 5 tahun
Bayaran
RM000
2004
Faedah
RM000
Pokok
RM000
Bayaran
RM000
2003
Faedah
RM000
Pokok
RM000
1,343
1,606
144
139
1,199
1,467
973
859
218
60
755
799
2,949
283
2,666
1,832
278
1,554
559
132
427
559
132
427
Syarikat
Kurang daripada 1 tahun
Antara 1 dan 5 tahun
13.
PERUNTUKAN
2004
RM000
Kumpulan
2003
RM000
13,896
13,896
13,896
13,896
6,943
6,943
20,839
13,896
122
14.
MANFAAT PERSARAAN
2004
RM000
Kumpulan
2003
RM000
2004
RM000
2003
RM000
8,395
8,636
102
91
(445)
(594)
(47)
(63)
7,950
8,042
55
28
Dianalisa sebagai:
Semasa
Bukan semasa
407
7,543
1,152
6,890
3
52
2
26
7,950
8,042
55
28
Syarikat
Kumpulan menyimpan rizab buku untuk liabiliti berdasarkan penilaian aktuari yang telah dijalankan oleh ahli aktuari pada
Januari 2004. Pelan persaraan pada masa ini adalah tidak dibiayai dan tiada aset fizikal telah diperuntukkan untuk kos
manfaat tersebut.
Liabiliti dan kos yang berkaitan dengan manfaat adalah diperuntukkan seperti yang tertera dalam Perjanjian Kolektif antara
syarikat-syarikat tertentu dalam Kumpulan dan Persatuan Pekerja Industri Simen. Di bawah skim tersebut, para pekerja yang
layak adalah berhak terhadap manfaat persaraan yang berbeza-beza antara dua pertiga hingga ke satu bulan daripada gaji
terakhir untuk setiap tahun perkhidmatan yang juga telah dipenuhi sehingga menjelang umur persaraan iaitu 50 atau 55, yang
mana bersesuaian.
Manfaat persaraan hanya perlu dibayar kepada pekerja yang merupakan ahli persatuan yang mana:(a) bersara apabila mencapai umur 50 atau 55, yang mana bersesuaian; atau
(b) keadaan kesihatan yang tidak mengizinkan; atau
(c) mati ketika dalam perkhidmatan; atau
(d) berhenti secara sukarela selepas 10 tahun berkhidmat dalam Syarikat.
Perlis Paper Products Sdn Bhd telah membayar kesemua manfaat persaraan yang terakru kepada para pekerja yang layak
pada akhir tahun kewangan berikutan dengan penjualan operasi perniagaannya kepada Prestige Packages (Perlis) Sdn Bhd
pada tahun lepas.
Perubahan dalam liabiliti bersih yang telah diiktiraf dalam kunci kira-kira
Kumpulan
2004
2003
RM000
RM000
Liabiliti bersih pada awal tahun
Liabiliti yang telah dipindahkan kepada
sebuah anak syarikat
Manfaat yang telah dibayar
Perbelanjaan yang telah diiktiraf dalam
penyata pendapatan (Nota 21)
Syarikat
2004
RM000
2003
RM000
8,042
7,558
28
6,167
(1,284)
(430)
(6,167)
1,192
914
27
28
7,950
8,042
55
28
123
14.
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
532
511
149
642
503
(13)
(218)
6
5
16
7
5
16
1,192
914
27
28
2004
%
2003
%
6.5
6.5
5.0 11.0
5.0 11.0
Kadar diskaun
Kenaikan gaji yang telah diduga
15.
MODAL SAHAM
Kumpulan/Syarikat
2004
2003
RM000
RM000
Saham biasa bernilai RM1.00 sesaham:Dibenarkan
Diterbitkan dan berbayar penuh
1,000,000
1,000,000
131,921
131,921
Skim Opsyen Saham Pekerja (SOSP atau Skim) Syarikat telah diluluskan oleh para pemegang saham pada Mesyuarat
Agung Luar Biasa (MAL) yang telah diadakan pada 4 Mac 2004 dan kelulusan daripada Bursa Malaysia Securities Berhad
(BMSB) telah diperolehi pada 9 April 2004 bagi penyenaraian dan sebutharga untuk saham-saham baru tersebut yang telah
diterbitkan sejajar dengan Skim itu.
Ciri-ciri utama Skim tersebut adalah seperti berikut:(i)
Jumlah keseluruhan saham yang ditawarkan di bawah Skim ini tidak boleh melebihi 10% daripada modal diterbitkan
dan berbayar Syarikat atau peratusan maksimum yang dibenarkan oleh pihak berkuasa yang berkenaan pada bila-bila
masa semasa kewujudan Skim ini;
(ii)
Skim ini berkuatkuasa sehingga lima (5) tahun bermula daripada 12 April 2004, tertakluk kepada sebarang tempoh
lanjutan kepada Skim yang boleh dikuatkuasakan oleh Syarikat seperti yang tertera dalam Undang-undang Kecil;
(iii) Mereka yang layak adalah para pekerja dan para Pengarah Eksekutif, yang terlibat dalam pengurusan harian dan berada
di dalam senarai gaji Kumpulan di mana mereka telah disahkan bekerja tetap dalam Kumpulan dan telah bekerja tetap
dalam Kumpulan untuk jangka masa berterusan sekurang-kurangnya satu (1) tahun penuh sebelum tarikh tawaran, iaitu
pada tarikh tawaran dibuat secara bertulis kepada pekerja untuk menyertai Skim ini. Para pekerja bukan rakyat Malaysia
yang layak adalah mereka yang berkhidmat dalam Kumpulan secara kontrak untuk tempoh sekurang-kurangnya dua (2)
tahun, dan kontrak itu masih berterusan;
124
15.
(v)
(vi)
Jumlah saham yang ditawarkan di bawah Skim ini adalah seperti berikut:(a) tidak melebihi lima puluh peratus (50%) daripada saham-saham opsyen yang sedia ada untuk diagihkan di bawah
Skim ini, akan diagihkan mengikut agregat kepada para pekerja yang layak, yang merupakan para Pengarah
Eksekutif dan pengurusan kanan Kumpulan; dan
(b) tidak melebihi sepuluh peratus (10%) daripada saham-saham opsyen yang sedia ada di bawah Skim ini akan
diagihkan kepada mana-mana pekerja individu terpilih yang layak di dalam Kumpulan yang mana sama ada secara
perseorangan atau melalui sekutunya memegang dua puluh peratus (20%) atau lebih modal diterbitkan dan
berbayar Syarikat.
Harga opsyen mestilah yang lebih tinggi antara berikut:(a) pada diskaun yang tidak melebihi sepuluh peratus (10%) daripada harga pasaran purata berwajaran saham-saham
seperti yang tertera di dalam senarai rasmi harian yang dikeluarkan oleh BMSB untuk tempoh lima (5) hari sebelum
tarikh tawaran; dan
(b) nilai muka saham-saham.
Opsyen-opsyen yang diberikan tidak dianugerahkan sebarang dividen atau sebarang pengagihan yang diisytiharkan
kepada para pemegang saham sebelum tarikh perlaksanaan opsyen dan adalah tertakluk kepada semua peruntukan
Artikel Penubuhan Syarikat.
Opsyen-opsyen yang diberikan untuk mengambilalih saham-saham biasa yang belum diterbitkan pada RM1.00 sesaham dan
harga opsyen adalah seperti berikut:Opsyen-opsyen ke atas Bilangan Saham-Saham Biasa yang bernilai RM1.00 sesaham
Ditawarkan
Tarikh
Tarikh
Tawaran
12 Apr 2004
16.
Harga
Baki pada
dan
Luput Perlaksanaan
1.1.2004
Diterima
10,158,000
11 Apr 2009
RM1.88
Telah
Telah
Baki pada
Luput Dilaksanakan
31.12.2004
(159,000)
9,999,000
17.
18.
CUKAI TERTUNDA
Liabiliti cukai tertunda yang telah diiktiraf adalah seperti berikut:2004
RM000
Hartanah, loji dan peralatan
lebihan elaun modal ke atas susut nilai
penilaian semula
Elaun modal yang tidak diserapkan
Elaun pelaburan semula yang tidak diserapkan
Elaun cukai pelaburan yang tidak digunakan
Kerugian cukai yang tidak digunakan
Peruntukan
Kumpulan
2003
RM000
Syarikat
2004
RM000
2003
RM000
156,892
1,977
(80,326)
(8,140)
(60,026)
(3,353)
(3,906)
151,102
1,977
(86,237)
(59,769)
(3,629)
(346)
1,196
1,881
(737)
(38)
1,881
3,118
3,098
2,302
1,881
125
18.
Kumpulan
2003
RM000
(46)
36,048
665
3,319
268
42,026
39,986
42,294
Elaun modal yang tidak diserapkan, kerugian cukai yang tidak digunakan dan elaun cukai pelaburan yang tidak digunakan
serta perbezaan sementara yang boleh dipotong tidak luput di bawah perundangan cukai semasa. Aset-aset cukai tertunda
adalah tidak diiktiraf untuk perkara-perkara ini disebabkan mereka telah timbul dalam anak-anak syarikat yang mempunyai
sejarah kerugian yang baru dan oleh itu, ianya tidak berkemungkinan bahawa terdapat keuntungan yang boleh dikenakan
cukai pada masa hadapan yang mana manfaatnya boleh digunakan oleh Kumpulan.
Angka-angka perbandingan telah dinyatakan semula untuk menunjukkan semakan elaun modal yang terdapat untuk Syarikat.
19.
HASIL
Simen
Konkrit siap campur
Yuran pengurusan yang patut diterima
Pendapatan faedah
Pendapatan dividen
Pendapatan sewa
20.
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
484,788
80,911
174
131
482,829
78,516
2,696
58
9,860
174
8,650
3,500
9,120
14,077
9,400
1,000
566,004
564,099
22,184
33,597
KOS PEKERJA
Termasuk dalam kos-kos pekerja Kumpulan dan Syarikat adalah RM4,158,000 (2003 : RM3,542,000) dan RM459,000
(2003 : RM412,000) masing-masing mewakili peruntukan yang dibuat untuk pelan sumbangan tertakrif, Kumpulan Wang
Simpanan Pekerja.
Bilangan pekerja Kumpulan dan Syarikat (tidak termasuk para Pengarah Bukan Eksekutif) masing-masing pada akhir tahun
ialah 981 (2003 : 1,024) dan 42 (2003 : 31).
126
21.
KEUNTUNGAN OPERASI
Keuntungan operasi diperolehi:2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
140
66,838
146
66,996
20
2,356
50
2,331
241
30
174
42
30
241
30
174
42
30
540
5
917
297
432
10
1
908
122
540
432
10
1
889
1,192
108
295
670
3,267
690
914
91
499
1,638
3,267
15
27
28
87
610
13,896
571
20
3,500
1,000
824
2,282
1,140
174
2,282
11,381
414
21
8,650
9,400
418
83
794
184
5,062
478
872
12
258
127
21.
22.
34
30
34
21
34
34
64
55
34
34
23.
KOS PEMBIAYAAN
KPNM
SHIBBA
Kafalah
Overdraf bank
Pajakan/sewa beli
Pinjaman berjangka
Kredit pusingan
Penerimaan jurubank
Pinjaman sementara
Nota yang perlu dibayar
Stok Pinjaman Boleh Tukar Bercagar (SPBTB)
Penalti atas penebusan awal SPBTB
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
1,870
3,718
986
336
8,681
7
352
10,883
413
338
5,177
326
4,384
6,997
132
243
413
149
326
4,384
6,997
15,591
28,877
132
12,512
128
24.
PERBELANJAAN CUKAI
2004
RM000
Kumpulan
2003
RM000
2004
RM000
2003
RM000
1,156
1,098
4,789
630
3,099
1,114
3,721
812
2,254
5,419
4,213
4,533
37
(16)
66
(404)
(17)
438
21
(338)
421
2,275
5,081
4,634
4,533
2004
RM000
Kumpulan
2003
RM000
Kumpulan
Keuntungan sebelum cukai
17,024
25,810
4,767
2,727
(284)
(3,690)
(6,049)
3,741
(19)
7,227
4,057
(1,577)
(3,903)
271
(1,072)
(7)
(141)
1,193
4,855
1,082
226
Perbelanjaan cukai
2,275
5,081
Syarikat
Keuntungan sebelum cukai
8,988
6,388
2,517
822
(254)
(3)
1,789
1,932
3,082
1,552
3,721
812
Perbelanjaan cukai
4,634
4,533
Syarikat
129
24.
25.
26.
DIVIDEN
Kumpulan/Syarikat
2004
2003
RM000
RM000
Biasa
Akhir dibayar:
2003 2 sen sesaham dikecualikan cukai dan 4 sen
sesaham tolak 28% cukai (2002 5 sen sesaham dikecualikan cukai)
6,438
6,596
Dividen pertama dan terakhir sebanyak 6.5 sen sesaham, tolak 28% cukai, berjumlah RM6.174 juta (2003 : RM6.438 juta)
bagi tahun kewangan berakhir 31 Disember 2004 akan dicadangkan di Mesyuarat Agung Tahunan yang akan datang, untuk
mendapat kelulusan ahli-ahli.
Dividen bagi setiap satu saham biasa seperti yang dinyatakan dalam Penyata Pendapatan mengambil kira dividen akhir bagi
tahun kewangan yang dicadangkan. Walau bagaimanapun, penyata kewangan ini tidak menunjukkan dividen akhir, yang mana
apabila diluluskan oleh para ahli, akan diperakaunkan sebagai pengagihan keuntungan terkumpul daripada ekuiti pemegang
saham pada tahun kewangan berakhir 31 Disember 2005.
27.
ANGKA-ANGKA PERBANDINGAN
Penyata aliran tunai sebelum ini disediakan menggunakan kaedah tidak langsung. Seperti yang ditetapkan di bawah MASB
5, Penyata Aliran Tunai, Kumpulan telah menukar kaedah penyampaian kepada kaedah secara langsung dalam penyediaan
Penyata Aliran Tunai. Perbandingan-perbandingan ini telah dinyatakan semula bagi mematuhi kaedah semasa.
28.
KOMITMEN MODAL
2004
RM000
Kumpulan
2003
RM000
2004
RM000
Syarikat
2003
RM000
28,253
16,442
717
1,246
28,970
17,688
130
29.
(b)
131
30.
Tiada sebarang urusniaga dibuat dengan kakitangan pengurusan utama selain daripada pakej imbuhan yang dibayar kepada
mereka mengikut terma-terma dan syarat-syarat perlantikan mereka.
Urus niaga pihak yang berhubung kait
Berikut adalah urus niaga penting dengan pihak yang berhubung kait, selain daripada yang dibentangkan di bahagian lain
penyata kewangan ini:Syarikat
2004
RM000
2003
RM000
166,000
60
9,800
3,500
60
60
9,000
6,167
1,000
11,381
900
4,000
3,750
900
1,000
7,500
132
30.
Kumpulan
2003
RM000
2004
RM000
2003
RM000
3,474
3,560
3,474
3,560
2,282
2,282
74,604
74,604
435
472
435
472
3,439
827
1,152
368
2,175
6
449
776
12,090
10,233
10,559
Syarikat
Urus niaga di atas dilaksanakan dalam urusan biasa perniagaan dan telah dilaksanakan mengikut syarat-syarat yang
dirundingkan.
Baki bukan perdagangan dengan syarikat induk dan anak-anak syarikat adalah terdiri daripada pendahuluan kepada atau
daripada Syarikat dan perkara-perkara tersebut dibentangkan masing-masing dalam Nota 9 dan 11.
133
31.
32.
134
32.
Kumpulan
Jumlah
RM000
Dalam
tempoh
1 tahun
RM000
1-5 tahun
RM000
Melebihi
1-5 tahun
RM000
2.53
95,314
95,314
2.60
71,669
71,669
4.20
360,000
30,000
310,000
20,000
Kadar
Faedah Efektif
%
Jumlah
RM000
Dalam
tempoh
1 tahun
RM000
1-5 tahun
RM000
2.64
4,214
4,214
2.40
9,253
9,253
Kadar Faedah
Efektif
%
2004
Aset Kewangan
Deposit jangka pendek
2003
Aset Kewangan
Deposit jangka pendek
Liabiliti Kewangan
Pinjaman sementara
Syarikat
2004
Aset Kewangan
Deposit jangka pendek
2003
Aset Kewangan
Deposit jangka pendek
135
32.
Kumpulan
2003
Amaun
Bawaan
RM000
Nilai
Saksama
RM000
Amaun
Bawaan
RM000
Nilai
Saksama
RM000
5,615
11,743
7,109
14,331
360,000
360,000
Aset Kewangan
Saham yang disebut harga
Liabiliti Kewangan
Pinjaman sementara
Tiada pendedahan terhadap nilai saksama untuk jangka masa panjang bagi Murabahah dan SHIBBA yang diperolehi di bawah
prinsip perbankan Islam di mana MASB 24, Alat Kewangan: Pendedahan dan Penyampaian tidak dapat diaplikasikan
terhadap pengiktirafan, sukatan dan pendedahan urus niaga-urus niaga dan peristiwa-peristiwa yang dilakukan berdasarkan
prinsip perbankan Islam.
2004
Syarikat
2003
Amaun
Bawaan
RM000
Nilai
Saksama
RM000
Amaun
Bawaan
RM000
Saksama
RM000
Nilai
1,650
1,675
20,307
10,821
Aset Kewangan
Jumlah perlu dibayar oleh anak syarikat
Liabiliti Kewangan
Jumlah perlu dibayar kepada anak syarikat
Nilai saksama bagi saham yang disebut harga ialah sebut harga yang dibida pada tarikh kunci kira-kira termasuk opsyen
belian untuk saham-saham tertentu yang disebut harga. Bagi instrumen kewangan lain yang disenaraikan di atas selain
daripada saham yang tidak disebut harga, nilai saksama telah pun ditentukan dengan mendiskaunkan aliran tunai yang
berkaitan dengan menggunakan kadar faedah semasa untuk instrumen yang serupa pada tarikh kunci kira-kira.
Ianya tidak praktikal untuk menganggarkan nilai saksama jumlah-jumlah perlu dibayar kepada/oleh anak syarikat
disebabkan terutamanya oleh ketiadaan terma pembayaran balik tetap yang dimeterai di antara pihak-pihak yang terlibat
dan tanpa bebanan kos yang berlebihan.
136
33.
NSCI mesti mempunyai perjanjian bertulis dengan SS untuk beroperasi pada kapasiti penuh untuk memohon dan
menerima kelulusan untuk menukar hak milik tanah di Mukim Jelai, Daerah Jempol, Negeri Sembilan.
(b)
AmMerchant Bank Berhad sebagai pengatur utama SHP dan NSCI mesti membuat pengumuman suku tahunan
kepada pemegang-pemegang amanah dan pihak-pihak yang terlibat dengan SHP dan SS berkenaan dengan status
kelulusan permohonan tersebut.
Pada 13 Ogos 2004 NSCI telah mengeluarkan Kertas Komersil Murabahah dengan jumlah nilai nominal sebanyak RM130
juta untuk Murabahah dan nilai nominal RM200 juta untuk SHIBBA.
NSCI telah diberi jangka masa 18 bulan untuk memenuhi syarat-syarat yang harus dipenuhi sebelum pelepasan dan kini
sedang dalam proses untuk memenuhi syarat-syarat Pejabat Tanah.
33.2Pembayaran penuh Pinjaman Sementara
NSCI telah membayar pinjaman sementaranya yang berjumlah RM360 juta yang telah dikeluarkan pada 29 Ogos 2003
secara penuh dalam tahun yang dilaporkan, NSCI telah membayar sejumlah RM30 juta pada 27 Mac 2004 dan bakinya
sebanyak RM330 juta dijelaskan sepenuhnya dengan penerbitan Sekuriti Hutang Persendirian yang terdiri daripada
RM130 juta Kertas Komersil Nota Jangka Sederhana Murabahah dan RM200 juta Sekuriti Hutang Islam Bai Bithaman
Ajil pada 13 Ogos 2004.
33.3Skim Opsyen Saham Perkerja (SOSP)
Suruhanjaya Sekuriti dan para pemegang saham Syarikat telah pada 25 Februari 2004 dan 4 Mac 2004 masing-masing
meluluskan SOSP oleh Syarikat. Bursa Malaysia Securities Malaysia Berhad (BMSB) telah meluluskan permohonan
Syarikat untuk penyenaraian tambahan saham-sahamnya pada 9 April 2004. SOSP telah diberikan pada 11 Jun 2004
pada harga perlaksanaan RM1.88 sesaham.
137
FINANCIAL CALENDAR
KALENDAR KEWANGAN
2004
2003
31 December 2004
31 December 2003
31 Disember 2004
31 Disember 2003
Announcement of Results
Pengumuman Pencapaian
Half year
27 August 2004
27 August 2003
Setengah tahun
27 Ogos 2004
27 Ogos 2003
Full year
24 February 2005
27 February 2004
Tahun Sepenuhnya
24 Februari 2005
27 Februari 2004
Interim
Nil
Nil
Interim
Tiada
Tiada
Final
30 June 2005
30 June 2004
Akhir
30 Jun 2005
30 Jun 2004
2 May 2005
13 April 2004
2 Mei 2005
13 April 2004
Dividend Payable
Dividen Berbayar
24 May 2005
6 May 2004
24 Mei 2005
6 Mei 2004
LIST OF PROPERTIES
SENARAI HARTANAH
Description
Title Deed
Approximate
Area
as at 31 December 2004
Tenure and
Year of
Expiry
Location
Existing Use
Approximate
Age of
Date
Property
of
(Years)
Acquisition
Net Book
Value as at
31 Dec 2004
(RM000)
G.M. 1537
G.M. 1536
0.8852 hec.
0.8549 hec.
Freehold
Freehold
Factory Site
Factory Site
25
25
10 Dec 1979
10 Dec 1979
P.T. 124
H.S.(D) 4335
19.768 hec.
Leasehold
(60 years)
20.1.2030
Factory Site,
Office Premises
18
18 Feb 1987
P.T. 251
H.S.(M) 756
1.9109 hec.
Leasehold
(60 years)
29.12.2030
Factory Site,
Office Premises
18
17 Feb 1987
P.T. 1642
H.S.(M) 792
1.5460 hec.
Leasehold
(60 years)
27.2.2048
Factory Site
17
28 Feb 1988
94
P.T. 1031
H.S.(M) 762
0.35 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
13
Lot 819
H.S.(M) 765
0.349 hec.
Factory Site
17
12 Jul 1987
P.T. 1046
H.S.(M) 749
1.2671 hec.
Leasehold
(60 years)
11.7.2047
Leasehold
(90 years)
1.12.2076
Factory Site
18
2 Dec 1986
Lot 823
H.S.(M) 791
0.7385 hec.
Leasehold
(60 years)
27.2.2048
Factory Site
17
28 Feb 1988
16
Lot 836
H.S.(M) 732
0.3566 hec.
Leasehold
(60 years)
25.1.2046
Factory Site
19
26 Jan 1986
Lot 824
H.S.(M) 768
0.28 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
Lot 825
H.S.(M) 767
0.29 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
Lot 826
H.S.(M) 766
0.32 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
Lot 827
H.S.(M) 764
0.71 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
16
313
6,366
139
LIST OF PROPERTIES
as at 31 December 2004
Description
Title Deed
Approximate
Area
Tenure and
Year of
Expiry
Location
Existing Use
Approximate
Age of
Date
Property
of
(Years)
Acquisition
Net Book
Value as at
31 Dec 2004
(RM000)
H.S.(M) 763
0.55 hec.
Leasehold
(60 years)
11.7.2047
Factory Site
17
12 Jul 1987
12
Lot 835
H.S.(M) 770
0.69 hec.
Factory Site
17
12 Jul 1987
15
Lot 829
H.S.(M) 769
0.82 hec.
Factory Site
17
12 Jul 1987
18
P.T. 830
H.S.(M) 723
0.3592 hec.
Factory Site
20
20 Mar 1985
P.T. 681
H.S.(M) 660
0.4452 hec.
Factory Site
22
11 Jul 1982
15
P.T. 1001
H.S.(M) 708
1.1269 hec.
Factory Site
20
18 Jul 1984
19
Lot
Lot
Lot
Lot
P.T.
G.M. 1533
G.M. 1535
G.M. 1534
G.M. 1532
H.S.(D) 4334
1.171 hec.
0.9636 hec.
3.0857 hec.
1.8363 hec.
4.0931 hec.
Bt.
Bt.
Bt.
Bt.
Bt.
Limestone
Limestone
Limestone
Limestone
Limestone
Quarry
Quarry
Quarry
Quarry
Quarry
32
32
32
32
23
18
21
11
29
18
Lot 838
P.T. 1644
G.M. 935
H.S.(M) 787
2.0765 hec.
0.2750 hec.
Factory Site
Limestone Quarry
12
17
10 Feb 1993
28 Feb 1988
419
12
P.T. 1645
H.S.(M) 790
0.644 hec.
Limestone Quarry
17
28 Feb 1988
23
P.T. 1646
H.S.(M) 786
0.2256 hec.
Leasehold
(60 years)
11.7.2047
Leasehold
(60 years)
11.7.2047
Leasehold
(99 years)
19.3.2084
Leasehold
(49 years)
20.1.2030
Leasehold
(60 years)
17.7.2044
Freehold
Freehold
Freehold
Freehold
Leasehold
(60 years)
26.12.2033
Freehold
Leasehold
(60 years)
27.2.2048
Leasehold
(60 years)
27.2.2048
Leasehold
(60 years)
27.2.2048
Limestone Quarry
17
28 Feb 1988
19
1871
848
841
873
437
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Perlis
Perlis
Perlis
Perlis
Perlis
Feb
Jan
Dec
Apr
Feb
1973
1973
1972
1973
1982
402
67
194
140
LIST OF PROPERTIES
as at 31 December 2004
Description
Title Deed
Approximate
Area
Tenure and
Year of
Expiry
Location
Existing Use
Approximate
Age of
Date
Property
of
(Years)
Acquisition
Net Book
Value as at
31 Dec 2004
(RM000)
H.S.(M) 785
P.T. 1648
H.S.(M) 784
P.T. 1649
H.S.(M) 788
P.T. 1650
H.S.(M) 789
Lot 696
H.S.(M) 1093
Lot 697
H.S.(M) 1364
Lot
Lot
Lot
Lot
G.M. 1549
G.M. 491
G.M. 492
H.S.(D) 2965
698
699
700
1887
Lot 860
P.T. 886
G.M. 1531
H.S.(M) 706
P.T. 887
H.S.(M) 709
P.T. 1004
H.S.(M) 1135
P.T. 1005
H.S.(M) 1136
P.T. 1006
H.S.(M) 724
P.T. 1007
H.S.(M) 753
Lot 1062
H.S.(M) 1169
0.3160 hec.
Leasehold
(60 years)
27.2.2048
2.18 hec.
Leasehold
(60 years)
27.2.2048
2.2450 hec. Leasehold
(60 years)
27.2.2048
2.6460 hec. Leasehold
(60 years)
27.2.2048
2.6178 hec. Leasehold
(60 years)
14.5.2050
1.5404 hec. Leasehold
(60 years)
2.1.2053
0.4749 hec. Freehold
0.6779 hec. Freehold
1.061 hec.
Freehold
77.4467 hec. Leasehold
(60 years)
15.5.2044
1.315 hec.
Freehold
5.580 hec.
Leasehold
(60 years)
15.5.2044
0.9870 hec. Leasehold
(60 years)
17.7.2044
0.3479 hec. Leasehold
(60 years)
5.8.2050
0.8792 hec. Leasehold
(60 years)
5.8.2050
2.949 hec.
Leasehold
(99 years)
19.3.2084
2.5182 hec. Lesehold
(99 years)
1.9.2084
0.344 hec.
Leasehold
(60 years)
5.5.2051
Limestone Quarry
17
28 Feb 1988
12
Limestone Quarry
17
28 Feb 1988
85
Limestone Quarry
17
28 Feb 1988
110
Limestone Quarry
17
28 Feb 1988
127
Limestone Quarry
15
15 May 1990
156
Limestone Quarry
12
3 Jan 1993
121
Bt.
Bt.
Bt.
Bt.
Limestone
Limestone
Limestone
Limestone
Quarry
Quarry
Quarry
Quarry
10
10
10
21
18 Jan 1995
21 Dec 1994
21 Dec 1994
16 May 1984
52
90
114
4,914
Limestone Quarry
Limestone Quarry
27
21
6 Sept 1977
16 May 1984
65
Limestone Quarry
20
18 Jul 1984
Limestone Quarry
14
6 Aug 1990
Limestone Quarry
14
6 Aug 1990
Limestone Quarry
20
20 Mar 1985
Limestone Quarry
18
24 Jan 1987
104
Limestone Quarry
14
6 May 1991
92
Ketri,
Ketri,
Ketri,
Ketri,
Perlis
Perlis
Perlis
Perlis
28
102
141
LIST OF PROPERTIES
as at 31 December 2004
Description
Title Deed
Approximate
Area
Tenure and
Year of
Expiry
Location
Existing Use
Approximate
Net Book
Age of
Date
Value as at
Property
of
31 Dec 2004
(Years)
Acquisition
(RM000)
H.S.(M) 1170
1.3228 hec.
Leasehold
(60 years)
5.5.2051
Lot 1064
H.S.(M) 1171
2.7974 hec. Leasehold
(60 years)
5.5.2051
Lot 1095
G.M. 1488
1.5862 hec. Freehold
Lot 1065
G.M. 82
1.1230 hec. Freehold
Lot 1066
G.M. 88
0.4957 hec. Freehold
Lot 1068
G.M. 89
0.7915 hec. Freehold
Lot 1069
G.M. 90
1.3279 hec. Freehold
Lot 1071
G.M. 94
0.2453 hec. Freehold
Lot 1073
G.M. 95
0.4376 hec. Freehold
Lot 1074
G.M. 96
0.5134 hec. Freehold
Lot 1639
H.S.(M) 795
0.055 hec.
Freehold
Lot 1075
G.M. 80
0.2691 hec. Freehold
Lot 1121
G.M. 408
0.4150 hec. Freehold
Lot 1124
M.G. 410
0.8524 hec. Freehold
P.T. 1296
H.S.(D) 3377
88.30 hec.
Leasehold
(30 years)
19.3.2015
Lot 1138
G.M. 421
4a.0r.15p.
Freehold
Lot 1122
G.M. 409
0a.3r.22p.
Freehold
Lot 1072
G.M. 74
0a.3r.34p.
Freehold
Lot 1059
G.M. 79
1a.3r.37p.
Freehold
P.T. 2727
H.S.(M) 1708
0.4920 hec. Freehold
P.T. 2970
H.S.(M) 1718
1.4325 hec. Freehold
Lot 1128
G.M. 413
1a.1r.31p.
Freehold
Lot 1129
G.M. 388
1a.1r.29p.
Freehold
Lot 1130
G.M. 389
1a.3r.24p.
Freehold
P.T. 2366
H.S.(M) 1212
2.96 acre
Leasehold
(60 years)
7.10.2051
B. Owned by Perlis Paper Products Sdn Bhd
Lot 1831
G.M. 1410
3r.26p.
Freehold
Lot 840
G.M. 1408
3a.2r.32p.
Freehold
C. Owned by Pemasaran Simen Negara Sdn Bhd
Lot 17677
P.T. 4097
1,650 sq.ft. Freehold
Lot 4150
Grant 59059
Condominium
Unit
700 sq.ft.
Freehold
Limestone Quarry
14
6 May 1991
92
Limestone Quarry
14
6 May 1991
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Titi
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Tinggi, Perlis
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Limestone Quarry
Shale Quarry
10
11
11
11
11
11
11
11
11
11
11
11
20
21 Sept 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
13 May 1994
13 May 1994
13 May 1994
13 May 1994
20 Mar 1985
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Limestone
Limestone
Limestone
Limestone
Limestone
Limestone
Limestone
Limestone
Limestone
Office
9
9
9
9
8
7
7
7
7
13
8 May 1996
21 May 1996
29 Dec 1995
29 Dec 1995
19 Dec 1996
29 Oct 1997
9 Jan 1998
21 Oct 1997
21 Oct 1997
8 Oct 1991
289
74
32
64
46
69
45
44
59
1,117
30
30
10 Nov 1974
10 Nov 1974
905
14
20 Nov 1990
410
29 Apr 1998
124
Perlis
Perlis
Perlis
Perlis
Perlis
Perlis
Perlis
Perlis
Perlis
Perlis
Quarry
Quarry
Quarry
Quarry
Quarry
Quarry
Quarry
Quarry
Quarry
Factory Site
Factory Site
Office
Batu 93/4
Damansara Lama
Mukim of Sungai
Buloh
Unit No. 2-10-6
Vacant
Azuria Condominium
Tanjung Ngah
Penang
603
79
142
LIST OF PROPERTIES
as at 31 December 2004
Description
Title Deed
Approximate
Area
Tenure and
Year of
Expiry
Location
Existing Use
Approximate
Age of
Date
Property
of
(Years)
Acquisition
Net Book
Value as at
31 Dec 2004
(RM000)
1,325 sq.ft.
Freehold
Vacant
7 June 2001
301
7,390 sq.ft.
Freehold
Rented out
22
10 June 1983
1,288
Freehold
4 Feb 1997
5,927 sq.ft.
Freehold
4 Feb 1997
976 sq.ft.
Leasehold
(99 Years)
3.2.2098
Shop Office
(Rented out)
4 Feb 1999
Cement Plant
30 Jan 1996
Magazine House
30 Jan 1996
Quarry
30 Jan 1996
Quarry/Cement
Plant
30 Jan 1996
Vacant
16 Oct 1998
2,124
Lot 65
Grant 4399
Section 85A
Kuala Lumpur
H.S.(D) 91639
P.T. No.32217
Mukim of
Petaling
Selangor
Mukim of Kepis
Kuala Pilah
Negeri Sembilan
Mukim of Jelai
Jempol
Negeri Sembilan
Mukim of Jelai
Jempol
Negeri Sembilan
Mukim of Jelai
Jempol
Negeri Sembilan
No.11, Jalan PS
1/5
Taman Pinggiran
Senawang
Sungai Gadut
71450 Seremban
Negeri Sembilan
121
28,461
161
143
LIST OF PROPERTIES
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Penggunaan
Semasa
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
G.M. 1537
G.M. 1536
0.8852 hek.
0.8549 hek.
Milik bebas
Milik bebas
Tapak Kilang
Tapak Kilang
25
25
10 Dis 1979
10 Dis 1979
P.T. 124
H.S.(D) 4335
19.768 hek.
Milik pajak
(60 tahun)
20.1.2030
Tapak Kilang,
Premis Pejabat
18
18 Feb 1987
P.T. 251
H.S.(M) 756
1.9109 hek.
Milik pajak
(60 tahun)
29.12.2030
Tapak Kilang,
Premis Pejabat
18
17 Feb 1987
P.T. 1642
H.S.(M) 792
1.5460 hek.
Milik pajak
(60 tahun)
27.2.2048
Tapak Kilang
17
28 Feb 1988
94
P.T. 1031
H.S.(M) 762
0.35 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
13
Lot 819
H.S.(M) 765
0.349 hek.
Tapak Kilang
17
12 Jul 1987
P.T. 1046
H.S.(M) 749
1.2671 hek.
Milik pajak
(60 tahun)
11.7.2047
Milik pajak
(90 tahun)
1.12.2076
Tapak Kilang
18
2 Dis 1986
Lot 823
H.S.(M) 791
0.7385 hek.
Milik pajak
(60 tahun)
27.2.2048
Tapak Kilang
17
28 Feb 1988
16
Lot 836
H.S.(M) 732
0.3566 hek.
Milik pajak
(60 tahun)
25.1.2046
Tapak Kilang
19
26 Jan 1986
Lot 824
H.S.(M) 768
0.28 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
Lot 825
H.S.(M) 767
0.29 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
Lot 826
H.S.(M) 766
0.32 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
Lot 827
H.S.(M) 764
0.71 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
16
313
6,366
144
LIST OF PROPERTIES
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Penggunaan
Semasa
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
H.S.(M) 763
0.55 hek.
Milik pajak
(60 tahun)
11.7.2047
Tapak Kilang
17
12 Jul 1987
12
Lot 835
H.S.(M) 770
0.69 hek.
Tapak Kilang
17
12 Jul 1987
15
Lot 829
H.S.(M) 769
0.82 hek.
Tapak Kilang
17
12 Jul 1987
18
P.T. 830
H.S.(M) 723
0.3592 hek.
Tapak Kilang
20
20 Mac 1985
P.T. 681
H.S.(M) 660
0.4452 hek.
Tapak Kilang
22
11 Jul 1982
15
P.T. 1001
H.S.(M) 708
1.1269 hek.
Tapak Kilang
20
18 Jul 1984
19
Lot
Lot
Lot
Lot
P.T.
G.M. 1533
G.M. 1535
G.M. 1534
G.M. 1532
H.S.(D) 4334
1.171 hek.
0.9636 hek.
3.0857 hek.
1.8363 hek.
4.0931 hek.
Bt.
Bt.
Bt.
Bt.
Bt.
Kuari
Kuari
Kuari
Kuari
Kuari
Kapur
Kapur
Kapur
Kapur
Kapur
32
32
32
32
23
18 Feb 1973
21 Jan 1973
11 Dis 1972
29 Apr 1973
18 Feb 1982
Lot 838
P.T. 1644
G.M. 935
H.S.(M) 787
2.0765 hek.
0.2750 hek.
Tapak Kilang
Kuari Batu Kapur
12
17
10 Feb 1993
28 Feb 1988
419
12
P.T. 1645
H.S.(M) 790
0.644 hek.
17
28 Feb 1988
23
P.T. 1646
H.S.(M) 786
0.2256 hek.
Milik pajak
(60 tahun)
11.7.2047
Milik pajak
(60 tahun)
11.7.2047
Milik pajak
(99 tahun)
19.3.2084
Milik pajak
(49 tahun)
20.1.2030
Milik pajak
(60 tahun)
17.7.2044
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik pajak
(60 tahun)
26.12.2033
Milik bebas
Milik pajak
(60 tahun)
27.2.2048
Milik pajak
(60 tahun)
27.2.2048
Milik pajak
(60 tahun)
27.2.2048
17
28 Feb 1988
19
1871
848
841
873
437
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Perlis
Perlis
Perlis
Perlis
Perlis
Batu
Batu
Batu
Batu
Batu
402
67
194
145
LIST OF PROPERTIES
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Penggunaan
Semasa
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
H.S.(M) 785
P.T. 1648
H.S.(M) 784
P.T. 1649
H.S.(M) 788
P.T. 1650
H.S.(M) 789
Lot 696
H.S.(M) 1093
Lot 697
H.S.(M) 1364
Lot
Lot
Lot
Lot
G.M. 1549
G.M. 491
G.M. 492
H.S.(D) 2965
698
699
700
1887
Lot 860
P.T. 886
G.M. 1531
H.S.(M) 706
P.T. 887
H.S.(M) 709
0.3160 hek.
Milik pajak
(60 tahun)
27.2.2048
2.18 hek.
Milik pajak
(60 tahun)
27.2.2048
2.2450 hek. Milik pajak
(60 tahun)
27.2.2048
2.6460 hek. Milik pajak
(60 tahun)
27.2.2048
2.6178 hek. Milik pajak
(60 tahun)
14.5.2050
1.5404 hek. Milik pajak
(60 tahun)
2.1.2053
0.4749 hek. Milik bebas
0.6779 hek. Milik bebas
1.061 hek.
Milik bebas
77.4467 hek. Milik pajak
(60 tahun)
15.5.2044
1.315 hek.
Milik bebas
5.580 hek.
Milik pajak
(60 tahun)
15.5.2044
0.9870 hek. Milik pajak
(60 tahun)
17.7.2044
17
28 Feb 1988
12
17
28 Feb 1988
85
17
28 Feb 1988
110
17
28 Feb 1988
127
15
15 Mei 1990
156
12
3 Jan 1993
121
Bt.
Bt.
Bt.
Bt.
Kuari
Kuari
Kuari
Kuari
Kapur
Kapur
Kapur
Kapur
10
10
10
21
18
21
21
16
27
21
6 Sept 1977
16 Mei 1984
20
18 Jul 1984
Ketri,
Ketri,
Ketri,
Ketri,
Perlis
Perlis
Perlis
Perlis
Batu
Batu
Batu
Batu
Jan
Dis
Dis
Mei
1995
1994
1994
1984
52
90
114
4,914
65
28
146
LIST OF PROPERTIES
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Penggunaan
Semasa
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
H.S.(M) 1135
0.3479 hek.
P.T. 1005
H.S.(M) 1136
0.8792 hek.
P.T. 1006
H.S.(M) 724
2.949 hek.
P.T. 1007
H.S.(M) 753
2.5182 hek.
Lot 1062
H.S.(M) 1169
0.344 hek.
Lot 1063
H.S.(M) 1170
1.3228 hek.
Lot 1064
H.S.(M) 1171
2.7974 hek.
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
P.T.
1095
1065
1066
1068
1069
1071
1073
1074
1639
1075
1121
1124
1296
G.M. 1488
G.M. 82
G.M. 88
G.M. 89
G.M. 90
G.M. 94
G.M. 95
G.M. 96
H.S.(M) 795
G.M. 80
G.M. 408
M.G. 410
H.S.(D) 3377
1.5862 hek.
1.1230 hek.
0.4957 hek.
0.7915 hek.
1.3279 hek.
0.2453 hek.
0.4376 hek.
0.5134 hek.
0.055 hek.
0.2691 hek.
0.4150 hek.
0.8524 hek.
88.30 hek.
Lot
Lot
Lot
Lot
P.T.
1138
1122
1072
1059
2727
G.M. 421
G.M. 409
G.M. 74
G.M. 79
H.S.(M) 1708
4a.0r.15p.
0a.3r.22p.
0a.3r.34p.
1a.3r.37p.
0.4920 hek.
Milik pajak
(60 tahun)
5.8.2050
Milik pajak
(60 tahun)
5.8.2050
Milik pajak
(99 tahun)
19.3.2084
Milik pajak
(99 tahun)
1.9.2084
Milik pajak
(60 tahun)
5.5.2051
Milik pajak
(60 tahun)
5.5.2051
Milik pajak
(60 tahun)
5.5.2051
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik pajak
(30 tahun)
19.3.2015
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik bebas
14
6 Ogos 1990
14
6 Ogos 1990
20
20 Mac 1985
18
24 Jan 1987
14
6 Mei 1991
14
6 Mei 1991
102
104
92
Bt. Ketri, Perlis
14
6 Mei 1991
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Bt.
Titi
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Ketri, Perlis
Tinggi, Perlis
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Kuari
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Batu
Syal
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
Kapur
10
11
11
11
11
11
11
11
11
11
11
11
20
21 Sept 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
8 Apr 1994
13 Mei 1994
13 Mei 1994
13 Mei 1994
13 Mei 1994
20 Mac 1985
Bt.
Bt.
Bt.
Bt.
Bt.
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Kuari
Kuari
Kuari
Kuari
Kuari
Batu
Batu
Batu
Batu
Batu
Kapur
Kapur
Kapur
Kapur
Kapur
9
9
9
9
8
8 Mei 1996
21 Mei 1996
29 Dis 1995
29 Dis 1995
19 Dis 1996
Perlis
Perlis
Perlis
Perlis
Perlis
603
79
289
74
32
64
46
147
LIST OF PROPERTIES
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Penggunaan
Semasa
Ketri,
Ketri,
Ketri,
Ketri,
Ketri,
Kuari Batu
Kuari Batu
Kuari Batu
Kuari Batu
Pejabat
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
2970
1128
1129
1130
2366
H.S.(M) 1718
G.M. 413
G.M. 388
G.M. 389
H.S.(M) 1212
1.4325 hek.
1a.1r.31p.
1a.1r.29p.
1a.3r.24p.
2.96 ekar
Milik bebas
Milik bebas
Milik bebas
Milik bebas
Milik pajak
(60 tahun)
7.10.2051
Bt.
Bt.
Bt.
Bt.
Bt.
Perlis
Perlis
Perlis
Perlis
Perlis
Kapur
Kapur
Kapur
Kapur
7
7
7
7
13
29 Okt 1997
9 Jan 1998
21 Okt 1997
21 Okt 1997
8 Okt 1991
69
45
44
59
1117
Tapak Kilang
Tapak Kilang
30
30
10 Nov 1974
10 Nov 1974
905
Batu 93/4
Damansara Lama
Mukim Sg. Buloh
Pejabat
14
20 Nov 1990
410
Lot 4150
Geran 59059
Unit
Kondominium
700 kp.
Milik bebas
29 Apr 1998
124
Lot 544
Geran 56701
Unit
Kondominium
1,325 kp.
Milik bebas
Kosong
7 Jun 2001
301
Milik bebas
Tingkat 6, Wisma
Sewaan
Penang Garden
42 Jalan Sultan
Ahmad Shah
10050 Pulau Pinang
22
10 Jun 1983
1,288
Milik bebas
Pejabat (Kegunaan
sendiri)
4 Feb 1997
7,390 kp.
Pejabat
2,124
Lot 65
Geran 4399
Seksyen 85A
Kuala Lumpur
5,927 kp.
Milik bebas
Pejabat (Kegunaan
sendiri
4 Feb 1997
H.S.(D) 91639
P.T. No.32217
Mukim Petaling
Selangor
976 kp.
Milik pajak
(99 tahun)
3.2.2098
B.02.02
Sri Kembangan
South City
Kuala Lumpur
Kedai Pejabat
(Sewaan)
4 Feb 1999
121
LIST OF PROPERTIES
148
as at 31 December 2004
Perihal
Tanah
Surat Ikatan
Hak Milik
Anggaran
Kawasan
Status
Pegangan
dan Tarikh
Luput
Lokasi
Mukim Kepis
Kuala Pilah
Negeri Sembilan
Mukim Jelai
Jempol
Negeri Sembilan
Mukim Jelai
Jempol
Negeri Sembilan
Mukim Jelai
Jempol
Negeri Sembilan
No.11, Jalan PS
1/5
Taman Pinggiran
Senawang
Sungai Gadut
71450 Seremban
Negeri Sembilan
Penggunaan
Semasa
Anggaran
Usia
Hartanah
(Tahun)
Nilai Buku
Tarikh
Bersih pada
Pemerolehan 31 Dis 2004
(RM000)
Kilang Simen
30 Jan 1996
Rumah Magazin
30 Jan 1996
Kuari
30 Jan 1996
Kuari/Kilang
Simen
30 Jan 1996
Kosong
16 Okt 1998
28,461
161
149
SHAREHOLDINGS STRUCTURE
as at 31 March 2005
: RM1,000,000,000
: RM131,920,785
Category
Kategori
No. of Shareholders
Bil. Pemegang Saham
Malaysian
Foreign
Tempatan
Asing
Number of Shares
Bil. Saham
Malaysian
Foreign
Tempatan
Asing
Percentage
Peratus
Malaysian
Foreign
Tempatan
Asing
15
1,114
1,612
274
19
42
22
632
1,062,546
6,416,332
8,124,650
17,400
196,500
781,300
0.00479
0.805442
4.863776
6.158734
0.013190
0.148953
0.592249
49
29,257,600
2,520,500
22.178158
1.910616
83,543,325
63.328402
Total / Jumlah
3,066
88
128,405,085
3,515,700
97.334992
2.665008
No. of Shares
Bil. Saham
Percentage
Peratus
71,194,325
12,349,000
4,505,000
4,494,000
53.967481
9.360921
3.414928
3.406590
2,394,200
1,725,000
1,600,000
1,331,500
1,277,000
1,151,000
1,068,000
1.814877
1.307603
1.212849
1.009318
0.968005
0.872493
0.809577
920,000
789,300
666,500
603,000
530,000
0.697388
0.598341
0.505227
0.457093
0.401756
500,000
500,000
0.379015
0.379015
150
30 LARGEST SHAREHOLDERS
30 PEMEGANG SAHAM TERBESAR
No. of Shares
Bil. Saham
Percentage
Peratus
459,000
387,100
350,000
346,800
300,000
0.347936
0.293434
0.265311
0.262885
0.227409
295,000
291,000
280,900
0.223619
0.220587
0.212931
260,000
0.197088
258,200
256,000
0.195724
0.194056
250,000
0.189508
111,331,825
84.392937
No. of Shares
Bil. Saham
Percentage
Peratus
71,194,325
*57,28,900
53.9675
12.7675
Note /Nota:
* 4,494,000 ordinary shares held by AM Nominees (Tempatan) Sdn Bhd.
4,494,000 saham-saham biasa dipegang oleh AM Nominees (Tempatan) Sdn Bhd.
151
OTHER INFORMATION
MAKLUMAT-MAKLUMAT LAIN
2001
2002
2003
2004
2005
Highest/Harga tertinggi
RM1.85
RM3.85
RM2.79
RM2.78
RM2.25
Lowest/Harga terendah
RM0.84
RM2.04
RM1.95
RM1.99
RM1.60
Share Prices and Volume Traded for the period 1 April 2004 to 28 April 2005
Harga-harga Saham dan Jumlah yang diniagakan bagi tempoh 1 April 2004 hingga 28 April 2005
6,500
3.0
5,200
2.4
3,900
1.8
2,600
1.2
1,300
0.6
0
APRIL
APRIL
MAY
MEI
JUNE
JUN
JULY
JUL
AUG
OGOS
Volume / Jumlah
SEPT
SEPT
OCT
OKT
Highest / Tertinggi
NOV
NOV
DEC
DIS
JAN
JAN
Lowest / Terendah
FEB
FEB
MAR
MAC
APRIL
APRIL
CIMA remains instrumental in building the nation through the supply of its cement and
cement related products. Its committed and excellent services are essential in achieving the
nations vision towards the total infrastructure development into the 21st century.
CIMA kekal memainkan peranan penting dalam membina negara melalui pembekalan simen
dan produk-produk yang berkaitan dengan simen. Perkhidmatannya yang komited dan
cemerlang adalah penting dalam menjayakan visi negara untuk mencapai pembangunan
prasarana secara menyeluruh dalam menuju ke abad 21.
Quarrying of limestone
Pengkuarian batu kapur
Crushing of limestone
Penghancuran batu kapur
Prehomogenization
Prahomogenisasi
Calcination
Pengoksidaan
Raw milling
Pengisaran bahan mentah
Cement milling
Pengisaran simen
Packaging
Pembungkusan
Distribution
Pengedaran
154
Bukit
Ketri
HQ P
Peninsular Malaysia
Bukit Tengah
O
George
Town
Kuang
HQ
Head Office
Ibu Pejabat
Cement Plant
Loji Simen
Marketing Office
Pejabat Pemasaran
Cement Depot
Depot Simen
Training Centre
Pusat Latihan
Hostel
Asrama
Wakaf Baru
Petaling Jaya
Bahau
P O D
Johor Bahru
North-South Expressway
Lebuhraya Utara-Selatan
Railway
Landasan Keretapi
Bukit
Ketri
Bukit
Tengah
George
Town
Kuang
155
CORPORATE DIRECTORY
PANDUAN KORPORAT
CEMENT INDUSTRIES OF
MALAYSIA BERHAD
Bukit Ketri, Mukim of Chuping
02450 Kangar
Perlis Indera Kayangan
Tel : 04-938 2006
Fax : 04-938 2722
NEGERI SEMBILAN CEMENT
INDUSTRIES SDN BHD
Lot 3323, Mukim of Kepis
Jalan Tampin-Bahau
72200 Kuala Pilah
Negeri Sembilan Darul Khusus
Tel : 06-454 9112
Fax : 06-454 3869
Bukit Ketri
c/o CIMA Bukit Ketri
Mukim of Chuping
02450 Kangar
Perlis Indera Kayangan
Tel : 04-938 1196/938 2487/938 2481/
938 2478/938 2486
Fax : 04-938 2166
Pulau Pinang
6th Floor, Wisma Penang Garden
No. 42, Jalan Sultan Ahmad Shah
10050 Pulau Pinang
Tel : 04-226 3811/226 3716/227 6595
Fax : 04-226 3364
Bukit Tengah
Lot 1082, Mukim 6
Seberang Prai Tengah
14000 Bukit Tengah
Pulau Pinang
Tel : 04-390 7249/390 4657
Fax : 04-390 7250
Kuang
Lot 1, Seksyen 5
Mukim of Kuang
48050 Kuang
Selangor Darul Ehsan
Tel : 03-6037 2292
Fax : 03-6037 2737
Bahau
Lot 3323, Mukim of Kepis
Kuala Jelai
72100 Bahau
Negeri Sembilan Darul Khusus
Tel : 06-454 9443
Fax : 06-454 9854
Petaling
Jaya
Bahau
Wakaf Baru
Lot 1900, Gudang Keretapi
Jalan Hulu Stesen
16250 Wakaf Baru
Kelantan Darul Naim
Tel : 09-719 0063/719 7466
Fax : 09-719 0109
UNIPATI CONCRETE SDN BHD
Head Office / Ibu Pejabat
4th Floor, Menara 2 Faber Towers
Jalan Desa Bahagia
Off Jalan Klang Lama
58100 Kuala Lumpur
Tel : 03-7623 0888/7623 0555
Seremban 2 Plant / Loji Seremban 2
PT 5579, Jalan S2/C1
Ports Complex Square, Seremban 2
70200 Seremban
Negeri Sembilan Darul Khusus
Tel : 06-634 1185
Fax : 06-634 1185
Johor
Bahru
Wakaf
Baru
NOTICE OF ANNUAL
GENERAL MEETING
NOTIS MESYUARAT AGUNG TAHUNAN
Tuesday
24 May 2005
Beseri Room
CIMA, Perlis
12.00 noon
1.
To receive the Audited Financial Statements of the Company for the year ended
31 December 2004 together with the Reports of the Directors and Auditors thereon.
(Resolution 1)
2.
To declare a first and final dividend of 6.5 sen per share less 28% tax for the year
ended 31 December 2004 as recommended by the Directors.
(Resolution 2)
3.
4.
To re-elect the following Directors retiring in accordance with Article 107 of the
Companys Articles of Association, and who, being eligible, offer themselves for
re-election:(i)
Zainal Abidin Jamal
(Resolution 4)
(ii)
Azmanuddin Haq Ahmad
(Resolution 5)
(iii) Dato Rosli Sharif
(Resolution 6)
5.
To re-appoint KPMG as auditor of the Company to hold office until the conclusion
of the next annual general meeting, and to authorise the Directors to fix its
remuneration.
(Resolution 7)
(Resolution 3)
157
Selasa
24 Mei 2005
Bilik Beseri
CIMA, Perlis
12.00 tengahari
1.
Untuk menerima Penyata Kewangan Syarikat yang telah Diaudit bagi tahun berakhir
31 Disember 2004 berserta dengan Laporan-laporan para Pengarah dan Juruaudit
yang berkaitan dengannya.
(Resolusi 1)
2.
Untuk mengisytiharkan dividen yang pertama dan terakhir sebanyak 6.5 sen
sesaham ditolak 28% cukai bagi tahun berakhir 31 Disember 2004 seperti yang
telah dicadangkan oleh para Pengarah.
(Resolusi 2)
3.
4.
Untuk memilih semula para Pengarah berikut yang akan bersara selaras dengan
Artikel 107 Tataurusan Penubuhan Syarikat, dan yang mana, oleh kerana layak,
menawarkan diri mereka untuk pemilihan semula:(i)
Zainal Abidin Jamal
(Resolusi 4)
(ii)
Azmanuddin Haq Ahmad
(Resolusi 5)
(iii) Dato Rosli Sharif
(Resolusi 6)
5.
Untuk melantik semula KPMG sebagai juruaudit Syarikat dan memegang jawatan
sehingga berakhirnya mesyuarat agung tahunan yang berikutnya, serta memberi
kuasa kepada para Pengarah untuk menetapkan ganjarannya.
(Resolusi 7)
(Resolusi 3)
158
Special Business
To consider and, if thought fit, to pass the following resolutions, with or without modifications as
Ordinary Resolutions:6.
Proposed authority to allot shares pursuant to Section 132D of the Companies Act, 1965.
THAT pursuant to Section 132D of the Companies Act, 1965 (the Companies Act) and
subject always to the approvals of the relevant governmental/regulatory authorities, the
Directors of the Company be and are hereby authorised to allot and issue new shares in the
Company at any time, at such price, upon such terms and conditions and for such purposes
and to such person or persons whomsoever as the Directors may, in their absolute discretion
deem fit, provided that the aggregate number of new shares to be issued pursuant to this
Ordinary Resolution does not exceed ten percent (10%) of the total issued share capital of the
Company for the time being AND THAT the Directors be and are hereby empowered to obtain
the approval from Bursa Malaysia Securities Berhad (BMSB) for the listing of and quotation
for the new shares so issued AND FURTHER THAT such authority shall continue in force until
the conclusion of the next annual general meeting of the Company or the expiry of the period
within which the next annual general meeting of the Company is required by law to be held
(whichever is earlier).
(Resolution 8)
7.
Proposed renewal of shareholders mandate and proposed new shareholders mandate for
recurrent related party transactions of a revenue or trading nature.
THAT authority be and is hereby given pursuant to Chapter 10.09 of the BMSB Listing
Requirements, for the Company, its subsidiaries or any of them to enter into any of the
transactions falling within the types of the Recurrent Related Party Transactions, particulars of
which are set out in Section 2.3.1 and 2.3.2 of the Circular to Shareholders dated 2 May 2005
(Circular) with the Related Parties as described in the Circular, provided that such
transactions are of a revenue or trading nature, which are necessary for its day-to-day
operations, made on an arms length basis and on normal commercial terms which are not
more favourable to the Related Parties than those generally available to the public and are not
detrimental to the minority shareholders of the Company;
AND THAT such authority shall commence immediately upon the passing of this Ordinary
Resolution until:(i)
the conclusion of the next annual general meeting of the Company at which time the
authority shall lapse unless by a resolution passed at such general meeting, the authority
is renewed; or
(ii)
the expiration of the period within which the next annual general meeting after the date
that is required by law to be held pursuant to Section 143(1) of the Companies Act (but
shall not extend to such extensions as may be allowed pursuant to Section 143(2) of the
Companies Act); or
(iii) revoked or varied by a resolution passed by the shareholders of the Company at a
general meeting,
whichever is earlier.
8.
(Resolution 9)
To transact any other ordinary business of the Company for which due notice has been given.
159
Urusan Khas
Untuk menimbangkan dan sekiranya difikirkan wajar, meluluskan resolusi-resolusi berikut, dengan
atau tanpa pindaan sebagai Resolusi-resolusi Biasa:6.
Cadangan kuasa bagi memperuntukkan saham selaras dengan Seksyen 132D Akta Syarikat, 1965.
BAHAWA selaras dengan Seksyen 132D Akta Syarikat, 1965 (Akta Syarikat) dan tertakluk
sentiasa kepada kelulusan kerajaan/pihak-pihak berkuasa yang berkaitan, para Pengarah
Syarikat adalah dan dengan ini diberi kuasa untuk memperuntukkan dan menerbitkan sahamsaham baru dalam Syarikat pada bila-bila masa, pada harga tertentu, menurut terma-terma
dan syarat-syarat tertentu dan bagi tujuan-tujuan tertentu dan untuk sesiapa sahaja atau orang
tertentu sebagai mana yang para Pengarah, mengikut budi bicara mutlak mereka fikirkan wajar,
dengan syarat bahawa bilangan agregat saham-saham baru yang akan diterbitkan selaras
dengan Resolusi Biasa ini tidak melebihi sepuluh peratus (10%) daripada jumlah modal saham
Syarikat yang diterbitkan buat masa ini DAN BAHAWA para Pengarah adalah dan dengan ini
diberi kuasa untuk memperolehi kelulusan Bursa Malaysia Securities Berhad (BMSB) bagi
penyenaraian dan sebut harga saham-saham baru yang akan diterbitkan DAN BERIKUTAN
DARIPADA ITU kuasa tersebut akan terus berkuatkuasa sehingga berakhirnya mesyuarat agung
tahunan Syarikat yang berikutnya atau pada penamatan tempoh yang mana mesyuarat agung
tahunan Syarikat yang berikutnya mengikut undang-undang perlu diadakan (yang mana
terdahulu).
(Resolusi 8)
7.
Cadangan pembaharuan mandat para pemegang saham dan cadangan mandat baru para
pemegang saham untuk urus niaga-urus niaga bersifat hasil atau dagangan yang berulangan
dengan pihak yang berhubung kait.
BAHAWA kuasa adalah dan dengan ini diberi selaras dengan Bab 10.09 Keperluan-keperluan
Penyenaraian BMSB, untuk Syarikat, anak-anak syarikatnya atau mana-mana antaranya untuk
menyertai sebarang urus niaga yang termasuk dalam jenis Urus Niaga Berulangan Dengan Yang
Berhubung Kait butirannya seperti yang tertera dalam Seksyen 2.3.1 dan 2.3.2 Pekeliling kepada
para Pemegang Saham bertarikh 2 Mei 2005 (Pekeliling) dengan Pihak-pihak yang berkaitan
seperti yang dinyatakan dalam Pekeliling, dengan syarat bahawa urus niaga-urus niaga tersebut
adalah dalam bentuk hasil atau dagangan, yang mana adalah perlu untuk kegiatan sehariannya,
yang dibuat secara berpatutan dan mengikut syarat-syarat perdagangan biasa yang mana ianya
tidak lebih memihak kepada Pihak-pihak Yang Berhubung Kait daripada apa yang biasanya
wujud kepada awam dan tidak menjejaskan para pemegang saham minoriti Syarikat;
DAN BAHAWA kuasa tersebut akan berkuat kuasa serta-merta sebaik sahaja Resolusi Biasa
ini telah diluluskan sehingga:(i)
berakhirnya mesyuarat agung tahunan Syarikat yang berikutnya yang mana kuasa itu
akan tamat, kecuali kuasa itu diperbaharui melalui resolusi yang telah diluluskan dalam
mesyuarat agung yang berkenaan; atau
(ii)
pada tamatnya tempoh yang mana mesyuarat agung tahunan Syarikat yang berikutnya
perlu diadakan mengikut undang-undang selaras dengan Seksyen 143(1) Akta Syarikat
(tetapi hendaklah tidak berlanjutan seperti lanjutan yang telah diperuntukkan selaras
dengan Seksyen 143(2) Akta Syarikat); atau
(iii) dibatalkan atau diubah melalui resolusi yang telah diluluskan oleh para pemegang saham
Syarikat dalam mesyuarat agung,
yang mana terdahulu.
8.
(Resolusi 9)
Untuk melaksanakan sebarang urusan biasa lain bagi Syarikat yang mana notis yang
mencukupi telah diberikan.
160
Any member of the Company entitled to attend and vote at the Annual General Meeting is entitled
to appoint a proxy to attend and vote at his stead. A proxy needs not be a member of the Company.
(b)
The instrument appointing a proxy shall be in writing under the hand of the appointor or his attorney
duly authorised in writing or, if the appointor is a corporation, either under seal or signed by an officer
or attorney duly authorised.
(c)
The instrument appointing a proxy must be deposited at the Companys Registered Office at Bukit
Ketri, Mukim of Chuping, 02450 Kangar, Perlis at least forty-eight (48) hours before the time
appointed to hold the meeting.
(d)
Explanatory notes on Special Business:(1) Resolution 8 Authority to allot shares pursuant to Section 132D of the Companies Act, 1965.
The proposed Resolution 8, if passed, will enable the Directors to issue up to a maximum of ten
percent (10%) of the total issued share capital of the Company for the time being for such
purposes as the Directors consider would be in the best interests of the Company. This authority,
unless revoked or varied at a general meeting, will expire at the next annual general meeting of
the company.
(2) Resolution 9 Proposed renewal of shareholders mandate and proposed new shareholders
mandate for recurrent related party transactions of a revenue or trading nature.
The proposed Resolution 9, if passed, will empower the Company, its subsidiaries or any of them
to enter into recurrent transactions of a revenue or trading nature which are necessary for its
day-to-day operations and transacted in the ordinary course of business with the Related Parties
(Proposed Mandate for Recurrent Related Party Transactions).
Further information on the Proposed Mandate for Recurrent Related Party Transactions are set out in
the Circular to Shareholders of the Company which is despatched together with the Companys 2004
Annual Report.
161
Ahli Syarikat yang berhak hadir dan mengundi di Mesyuarat Agung Tahunan adalah berhak untuk
melantik seorang proksi untuk hadir dan mengundi bagi pihaknya. Proksi tersebut tidak semestinya
ahli Syarikat.
(b)
Pelantikan proksi haruslah dibuat secara bertulis oleh pihak yang melantik atau peguamnya yang telah
diberi hak secara bertulis atau, sekiranya pihak yang melantik adalah sebuah perbadanan, sama ada di
bawah cap rasminya atau ditandatangani oleh seorang pegawai atau peguam yang telah diberi kuasa.
(c)
Surat pelantikan proksi haruslah dihantar ke Pejabat Berdaftar Syarikat di Bukit Ketri, Mukim Chuping,
02450 Kangar, Perlis sekurang-kurangnya empat puluh lapan (48) jam sebelum waktu bermulanya
mesyuarat.
(d)
Nota penjelasan berkenaan Urusan Khas:(1) Resolusi 8 Kuasa bagi memperuntukkan saham selaras dengan Seksyen 132D Akta Syarikat, 1965.
Cadangan Resolusi 8, sekiranya diluluskan, akan membolehkan para Pengarah menerbitkan
sehingga ke tahap maksimum sepuluh peratus (10%) daripada jumlah modal saham Syarikat yang
diterbitkan buat masa ini bagi tujuan tertentu yang difikirkan para Pengarah adalah demi kebaikan
Syarikat. Kuasa ini, kecuali dibatalkan atau diubah di mesyuarat agung, akan tamat tempohnya di
mesyuarat agung tahunan Syarikat yang berikutnya.
(2) Resolusi 9 Cadangan pembaharuan mandat para pemegang saham dan cadangan mandat baru
para pemegang saham untuk urus niaga-urus niaga bersifat hasil atau dagangan yang berulangan
dengan pihak yang berhubung kait.
Cadangan Resolusi 9, sekiranya diluluskan akan memberi kuasa kepada Syarikat, anak-anak
Syarikatnya atau mana-mana antaranya untuk menyertai, urus niaga yang berulangan dalam
bentuk hasil atau dagangan yang mana adalah perlu untuk kegiatan sehariannya dan dilaksanakan
dalam urusan biasa perniagaan dengan Pihak-pihak Yang Berhubung Kait (Cadangan Mandat
untuk Urus niaga-urus niaga Berulangan Dengan Pihak Yang Berhubung Kait).
Maklumat tambahan berkenaan Cadangan Mandat untuk Urus niaga-urus niaga Berulangan Dengan
Pihak Yang Berhubung Kait telah dibentangkan dalam Pekeliling kepada para Pemegang Saham
Syarikat yang dihantar bersama dengan Laporan Tahunan 2004 Syarikat.
162
1.
The Directors standing for re-election at the Thirty-Third Annual General Meeting are as follow / Para Pengarah yang
menawarkan diri untuk dilantik semula di Mesyuarat Agung Tahunan yang Ketiga Puluh Tiga adalah seperti berikut:No.
Name / Nama
(i)
(ii)
(iii)
12 November/November 2001
7 December/Disember 2001
1 March/Mac 2002
Age / Umur
51
35
50
Please refer to pages 9 to 14 for their respective profiles / Sila rujuk muka surat 9 hingga 14 untuk profil masing-masing.
2.
A total of seven (7) Board Meetings were held during the twelve months ended 31 December 2004, details of which are as
follows / Sebanyak tujuh (7) Mesyuarat Lembaga Pengarah telah diadakan sepanjang tempoh dua belas bulan berakhir 31
Disember 2004, yang mana butir-butirnya adalah seperti berikut:Date, Day & Time
Tarikh, Hari & Masa
Venue
Tempat
Attended by
Dihadiri oleh
i.
ii.
iii.
iv.
163
3.
Venue
Tempat
Attended by
Dihadiri oleh
v.
vi.
vii.
Dewan Chenang
Pelangi Beach & Spa Resort
Jalan Pantai Chenang
07000 Langkawi, Kedah
No director resigned during the financial year under review / Tiada pengarah yang meletak jawatan dalam tahun kewangan yang
ditinjau.
PROXY FORM
I/We
(CAPITAL LETTERS)
of
being a member/members of CEMENT INDUSTRIES OF MALAYSIA BERHAD hereby appoint the Chairman of the meeting or (see
note 2)
as my/our proxy to vote for me/us on my/our behalf at the Annual General Meeting of the Company to be held at Beseri Room,
Cement Industries of Malaysia Berhad on Tuesday, 24 May 2005 at 12.00 noon and at any adjournment thereof. The proxy is to
vote the resolutions referred to in the Notice of Annual General Meeting according to the instruction indicated below with affix x.
FOR
AGAINST
Resolution 1
Resolution 2
Resolution 3
Resolution 4
Resolution 5
Resolution 6
Resolution 7
Resolution 8
Resolution 9
Signature __________________________________
Notes:
1. A proxy may be any person selected at the absolute discretion of the appointor or his attorney.
2. If you wish to appoint as a Proxy some person other than the Chairman of the meeting, please insert in capital letters the full
name and address of the person of your choice. At the same time, please delete the words the Chairman of the meeting or.
3. In the absence of any specific direction, the proxy will vote or abstain from voting as he thinks fit.
4. In the case of a corporation, this form should be executed under its common seal or under the hand of an officer or attorney
duly authorised in writing on its behalf.
5. In the case of joint holders the signature of any one of them will suffice.
6. The instrument appointing a proxy must be deposited at the Registered Office of the Company not less than 48 hours before
the time for holding the meeting.
BORANG PROKSI
Saya/Kami
(HURUF BESAR)
dari
sebagai seorang Ahli/Ahli-ahli dari CEMENT INDUSTRIES OF MALAYSIA BERHAD dengan ini melantik Pengerusi mesyuarat ini atau
(lihat nota 2)
sebagai wakil saya/kami untuk mengundi bagi pihak saya/kami dalam Mesyuarat Agung Tahunan Syarikat ini yang akan diadakan di
Bilik Beseri, Cement Industries of Malaysia Berhad pada hari Selasa, 24 Mei 2005 jam 12.00 tengahari dan pada sebarang
penangguhannya. Wakil tersebut, hendaklah mengundi resolusi-resolusi seperti yang tertera pada Notis Mesyuarat Agung Tahunan
menurut arahan-arahan yang diberikan di bawah ini dengan tanda x.
MENYOKONG
MENENTANG
Resolusi 1
Resolusi 2
Resolusi 3
Resolusi 4
Resolusi 5
Resolusi 6
Resolusi 7
Resolusi 8
Resolusi 9
Sebagai yang disaksi saya melalui tandatangan pada _____________ haribulan _____________ 2005.
Tandatangan __________________________________
Nota:
1. Sesiapa sahaja berkemungkinan dilantik menjadi wakil mengikut budi bicara mutlak pelantik atau peguamnya.
2. Kalau anda ingin melantik seseorang selain daripada Pengerusi mesyuarat sebagai wakil, sila masukkan dengan huruf besar
nama penuh dan alamat orang yang dipilih serta memotong perkataan Pengerusi mesyuarat ini atau.
3. Dengan ketiadaan apa-apa arahan tertentu, wakil ini akan ataupun tidak akan mengundi apa yang difikirkan sesuai.
4. Sekiranya wakil itu sebuah perbadanan, borang ini mestilah dipenuhi di bawah cap mohor perbadanan itu atau oleh seorang
pegawai atau peguam yang diberi kuasa secara bertulis oleh pihaknya.
5. Bagi pemegang saham bersama, tandatangan oleh salah seorang daripada mereka adalah mencukupi.
6. Borang wakil yang diisi ini mestilah sampai di Pejabat Berdaftar Syarikat ini tidak kurang dari 48 jam sebelum masa mesyuarat.