| |
2011
RM |
|
2010
RM |
|
| |
| Revenue |
499,849,332 |
|
460,078,516 |
|
| |
| Cost of sales |
(453,566,094) |
|
(418,009,456) |
|
|
| Gross profit |
46,283,238 |
|
42,069,060 |
|
| |
| Other operating income |
22,583,088 |
|
1,846,933 |
|
|
| |
68,866,326 |
|
43,915,993 |
|
| |
| Administrative expenses |
(17,488,049) |
|
(13,441,060) |
|
|
| Profit from operations |
51,378,277 |
|
30,474,933 |
|
| |
| Finance costs |
(14,027,954) |
|
(10,354,210) |
|
|
| Profit before taxation |
37,350,323 |
|
20,120,723 |
|
| |
| Tax expense |
(7,935,362) |
|
(6,206,808) |
|
|
Profit for the year, representing total
comprehensive income for the year |
29,414,961 |
|
13,913,915 |
|
|
| |
Profit for the year / total comprehensive income
attributable to:- |
|
|
|
|
| Owners of the parent |
30,423,570 |
|
13,938,701 |
|
| Non-controlling interest |
(1,008,609) |
|
(24,786) |
|
|
| |
29,414,961 |
|
13,913,915 |
|
|
| |
Earnings per share attributable to owners
of the parent (sen):- |
|
|
|
|
| |
| - Basic |
24-56 |
|
11-25 |
|
|
| |
| - Diluted |
N/A |
|
N/A |
|
|
| |
| Dividends per ordinary share (sen) |
4-00 |
|
4-00 |
|
|
| |
| |
2011
RM |
|
2010
RM |
|
| |
| ASSETS |
| |
| Non-current assets |
| Property, plant and equipment |
17,987,367 |
|
57,697,861 |
|
| Investment properties |
118,479,395 |
|
107,339,377 |
|
| Other investments |
54,000 |
|
4,054,000 |
|
| Goodwill |
33,604,364 |
|
33,604,364 |
|
| Land held for property development |
10,977,481 |
|
12,917,357 |
|
| Deferred tax assets |
464,638 |
|
– |
|
|
| |
181,567,245 |
|
215,612,959 |
|
|
| |
| Current assets |
| Property development costs |
38,778,384 |
|
33,328,348 |
|
| Inventories |
2,015,000 |
|
2,015,000 |
|
| Trade receivables |
146,156,114 |
|
137,147,306 |
|
| Amounts due from contract customers |
228,787,455 |
|
167,262,909 |
|
| Other receivables, deposits and prepayments |
15,416,174 |
|
20,016,881 |
|
| Tax assets |
1,385,857 |
|
2,166,630 |
|
Fixed deposits with licensed banks and short
term investment with financial institution |
13,121,810 |
|
2,846,173 |
|
| Cash and bank balances |
3,595,597 |
|
2,632,022 |
|
|
| |
449,256,391 |
|
367,415,269 |
|
|
| TOTAL ASSETS |
630,823,636 |
|
583,028,228 |
|
|
| |
| EQUITY AND LIABILITIES |
| |
Equity attributable to equity holders
of the Company |
|
|
|
|
| Share capital |
124,089,450 |
|
124,089,450 |
|
| Treasury shares |
(181,069) |
|
(181,069) |
|
| Reserves |
143,622,736 |
|
116,914,730 |
|
|
| Equity attributable to owners of the parent |
267,531,117 |
|
240,823,111 |
|
| Non-controlling interest |
(556,332) |
|
452,277 |
|
|
| Total equity |
266,974,785 |
|
241,275,388 |
|
|
| |
| Non-current liabilities |
| Term loans |
154,834,188 |
|
112,785,552 |
|
| Hire purchase payables |
2,060,873 |
|
4,107,574 |
|
| Deferred tax liabilities |
633,742 |
|
361,486 |
|
|
| |
157,528,803 |
|
117,254,612 |
|
|
| |
| Current liabilities |
| Trade payables |
109,825,380 |
|
132,467,231 |
|
| Amounts due to contract customers |
13,413,850 |
|
16,259,151 |
|
| Other payables, deposits received and accruals |
20,152,299 |
|
16,998,009 |
|
| Hire purchase payables |
3,271,679 |
|
4,209,370 |
|
| Bank overdraft |
21,511,518 |
|
19,057,212 |
|
| Other bank borrowings |
24,473,282 |
|
31,644,573 |
|
| Term loans |
12,356,000 |
|
3,796,151 |
|
| Provision for taxation |
1,316,040 |
|
66,531 |
|
|
| |
206,320,048 |
|
224,498,228 |
|
|
| Total liabilities |
363,848,851 |
|
341,752,840 |
|
|
| TOTAL EQUITY AND LIABILITIES |
630,823,636 |
|
583,028,228 |
|
|
| |
| |
2011
RM |
|
2010
RM |
|
| |
| CASH FLOWS FROM OPERATING ACTIVITIES |
| |
| Profit before taxation |
37,350,323 |
|
20,120,723 |
|
| |
| Adjustments for:- |
| Depreciation of property, plant and equipment |
4,670,771 |
|
4,840,584 |
|
| Gain on disposal of inventories |
(220,200) |
|
– |
|
Gain on disposal of property, plant and
equipment |
(18,970,901) |
|
(324,015) |
|
| Excess in net fair value of Subsidiaries acquired |
- |
|
47,734 |
|
| Interest expenses |
14,027,954 |
|
10,354,210 |
|
| Interest income |
(335,105) |
|
(156,795) |
|
| Allowance for impairment on other investment |
4,000,000 |
|
– |
|
| Property development cost written off |
274,806 |
|
– |
|
| Short-term accumulating compensated absences |
(40,123) |
|
168,256 |
|
|
| Operating profit before working capital changes |
40,757,525 |
|
35,050,697 |
|
| |
| Increase in property development costs |
(5,724,842) |
|
(12,975,222) |
|
| Increase in receivables |
(4,408,101) |
|
(9,933,308) |
|
Increase in amounts due from contract
customers |
(61,524,546) |
|
(4,132,689) |
|
| Decrease in payables |
(19,447,438) |
|
(11,728,568) |
|
(Decrease) / Increase in amounts due to
contract customers |
(2,845,301) |
|
906,923 |
|
| |
(93,950,228) |
|
(37,862,864) |
|
|
| Cash used in operations |
(53,192,703) |
|
(2,812,167) |
|
| |
| Income tax paid |
(6,267,727) |
|
(8,159,964) |
|
| Income tax refunded |
170,265 |
|
4,094,620 |
|
|
| Net cash used in operating activities |
(59,290,165) |
|
(6,877,511) |
|
| |
| CASH FLOWS FROM INVESTING ACTIVITIES |
| |
| Decrease in development expenditure |
1,939,876 |
|
2,704,425 |
|
Proceeds from disposal of property, plant and
equipment |
56,705,594 |
|
481,901 |
|
| Proceeds from disposal of inventories |
220,200 |
|
– |
|
| Purchase of investment properties |
(11,140,018) |
|
(11,693,213) |
|
| Purchase of property, plant and equipment |
(1,360,970) |
|
(1,829,515) |
|
| Purchase of treasury shares |
– |
|
(181,069) |
|
| Interest received |
335,105 |
|
156,795 |
|
Net cash generated from / (used in) investing
activities |
46,699,787 |
|
(10,360,676) |
|
|
| Balance carried forward |
(12,590,378) |
|
(17,238,187) |
|
| |
| Balance brought forward |
(12,590,378) |
|
(17,238,187) |
|
| |
| CASH FLOWS FROM FINANCING ACTIVITIES |
| |
| Withdrawal of fixed deposits |
– |
|
3,107,008 |
|
| Fixed deposit pledged |
(493) |
|
– |
|
| Loan raised |
89,662,918 |
|
20,717,271 |
|
| Repayments of term loans |
(46,225,724) |
|
(11,821,775) |
|
| Repayments of hire purchase payables |
(4,318,392) |
|
(3,826,930) |
|
| Interest paid |
(14,027,954) |
|
(10,354,210) |
|
| Dividends paid |
(3,715,564) |
|
(3,715,564) |
|
Net cash generated from / (used in) financing
activities |
21,374,791 |
|
(5,894,200) |
|
|
Net increase / (decrease) in cash and cash
equivalents |
8,784,413 |
|
(23,132,387) |
|
| Cash and cash equivalents brought forward |
(13,601,172) |
|
9,531,215 |
|
|
| Cash and cash equivalents carried forward |
(4,816,759) |
|
(13,601,172) |
|
|
| |
|
