KLSE Annual Report PARTNERING TALENT with TECHNOLOGY
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Annual Report 19 99 KLSE annual report PARTNERING TALENT WITH TECHNOLOGY Entering a new millennium driven by technology, KLSE continues its successful partnership of people with technology. Our investment in technology is matched by our 19 human resource development. Our competitive edge is in the hands of talented people, developing and managing innovative technology, in the quest to make the KLSE a modern and efficient bourse of the new millennium. 99 Corporate Information 2 Executive Chairman’s Statement 4 Market Report 18 Issues In Focus 21 • Year 2000 Compliance • Capital Adequacy Requirements • Revamp of Listing Requirements • Informed Investing • Challenges for the Stockmarket Committee Members 32 Management Team 34 Contents Subsidiary And Related Companies 38 Calendar Of Events 52 Financial Statements 54 KLSE Sub-Committees 88 Monthly High, Low And Closing Indices 90 Volume, Value And Indices 92 New Listings 98 Membership Report 99 KLSE Members 104 Notice Of Annual General Meeting 116 Form Of Proxy /Certificate Of Representation • Kuala Lumpur Stock Exchange Corporate Information Kuala Lumpur Stock Exchange (KLSE) (30632-P) • Committee Members – Dato’ Mohammed Azlan Hashim • President – Dato’ Mohd Salleh Abdul Majid (Executive Chairman) • Deputy Presidents – Md Nor Ahmad Chan Guan Seng Ungku A Razak Ungku A Rahman (Deputy Chairman) • Company Secretary – Izlan Izhab Koh Kee Tee • Auditors – Messrs Hanafiah Raslan & Mohamad Dato’ Hwang Sing Lue • Tax Consultants – HRM (Tax Services) Sdn Bhd Mohaiyani Shamsudin • Bankers – Bumiputra-Commerce Bank Berhad Benny Ng Wu Hong Hongkong Bank Malaysia Berhad Dato’ Ranita Mohd Hussein Malayan Banking Berhad Tan Kim Leong • Registered Office – Kuala Lumpur Stock Exchange Abdul Kadir Hj Md Kassim 14th Floor, Exchange Square Bukit Kewangan 50200 Kuala Lumpur Tel: 03-206 7099 Fax: 03-206 3684 Securities Clearing Automated Network Services Sdn Bhd (SCANS) (109716-D) • Board of Directors – Dato’ Mohammed Azlan Hashim • General Manager – Ungku A Razak Ungku A Rahman (Executive Chairman) • Company Secretaries – Izlan Izhab Chan Guan Seng Abdul Raihan Mohd Yusof Koh Kee Tee • Auditors – Messrs Hanafiah Raslan & Mohamad Dato’ Hwang Sing Lue • Tax Consultants – HRM (Tax Services) Sdn Bhd Mohaiyani Shamsudin • Bankers – Malayan Banking Berhad Benny Ng Wu Hong Multi-Purpose Bank Berhad Dato’ Ranita Mohd Hussein Southern Bank Berhad Tan Kim Leong • Registered Office – Securities Clearing Automated Abdul Kadir Hj Md Kassim Network Services Sdn Bhd Dato’ Mohd Salleh Abdul Majid 8th Floor, Exchange Square Dato’ Hj Megat Najmuddin Khas Bukit Kewangan Dato’ Sri Dr Hj Megat Khas 50200 Kuala Lumpur Md Nor Ahmad Tel: 03-206 8099 Fax: 03-206 3720 (Alternate director to Dato’ Mohd Salleh Abdul Majid) Malaysian Central Depository Sdn Bhd (MCD) (165570-W) • Board of Directors – Dato’ Mohammed Azlan Hashim • General Manager – Ungku A Razak Ungku A Rahman (Executive Chairman) • Company Secretaries – Izlan Izhab Datuk Amirsham A Aziz Ahmad Aznan Nawawi Chan Guan Seng • Auditors – Messrs Hanafiah Raslan & Mohamad Tan Kim Leong • Tax Consultants – HRM (Tax Services) Sdn Bhd Dato’ Seri Syed Zainol Anwar • Bankers – Bumiputra-Commerce Bank Berhad Jamalullail ibni Tuanku Syed Malayan Banking Berhad Putra Jamalullail Multi-Purpose Bank Berhad • Registered Office – Malaysian Central Depository Sdn Bhd 6th Floor, Exchange Square Bukit Kewangan 50200 Kuala Lumpur Tel: 03-206 2099 Fax: 03-206 3719 KLSE-Bernama Real-Time Information Services Sdn Bhd (KULBER) (152961-H) • Board of Directors – Dato’ Mohammed Azlan Hashim • Company Secretaries – Izlan Izhab (Chairman) Abdul Raihan Mohd Yusof Prof Datuk Abu Bakar Abdul Hamid • Auditors – Messrs Hanafiah Raslan & Mohamad (Deputy Chairman) • Tax Consultants – HRM (Tax Services) Sdn Bhd Datuk Teh Ghee Kok • Bankers – Malayan Banking Berhad Dato’ Mohd Salleh Abdul Majid • Registered Office – KLSE-Bernama Real-Time Syed Jamil Syed Jaafar Information Services Sdn Bhd Shahzalan Adam 8th Floor, Exchange Square Md Nor Ahmad Bukit Kewangan (Alternate director to 50200 Kuala Lumpur Dato’ Mohd Salleh Abdul Majid) Tel: 03-206 8099 Fax: 03-206 3720 2 Annual Report 1999 Malaysian Share Registration Services Sdn Bhd (MSRS) (378993-D) • Board of Directors – Dato’ Mohammed Azlan Hashim • General Manager – Abdul Nasir Ahmad Daud (Chairman) • Company Secretaries – Izlan Izhab Tan Sri Zulkifli Mahmood Abdul Raihan Mohd Yusof Mohamad Shuib Abdul Ghani • Auditors – Messrs Hanafiah Raslan & Mohamad Dato’ Hj Megat Najmuddin Khas • Tax Consultants – HRM (Tax Services) Sdn Bhd Dato’ Sri Dr Hj Megat Khas • Bankers – Malayan Banking Berhad Shanaz Radhiah Zulkifli • Registered Office – Malaysian Share Registration (Alternate director to Services Sdn Bhd Tan Sri Zulkifli Mahmood) 8th Floor, Exchange Square Haji Mustapha Hashim Bukit Kewangan (Alternate director to 50200 Kuala Lumpur Mohamad Shuib Abdul Ghani) Tel: 03-206 8099 Fax: 03-206 3720 The Kuala Lumpur Options & Financial Futures Exchange Bhd (KLOFFE) (261937-H) • Board of Directors – Ramli Ibrahim • General Manager – S Loganathan (Executive Chairman/ • Company Secretaries – Izlan Izhab Acting Chief Operating Officer) Linda Song Mohamad Ariff Md Yusof • Auditors – Arthur Andersen & Co SA Vanar • Tax Consultants – Arthur Andersen HRM Tax Services & Co Dato’ Mohammed Azlan Hashim • Bankers – Malayan Banking Berhad Dato’ Mohd Salleh Abdul Majid Bumiputra-Commerce Bank Berhad Dato’ Ranita Mohd Hussein RHB Bank Berhad Dato’ Hwang Sing Lue Hong Leong Bank Berhad Mohd Ridzal Mohd Sheriff • Registered Office – The Kuala Lumpur Options & Omar Merican Financial Futures Exchange Berhad Chan Guan Seng 10th Floor, Wisma Chase Perdana (Alternate director to Off Jalan Semantan Dato’ Mohammed Azlan Hashim) Damansara Heights Md Nor Ahmad 50490 Kuala Lumpur (Alternate director to Tel: 03-253 8199 Fax: 03-253 5911 Dato’ Mohd Salleh Abdul Majid) Research Institute of Investment Analysts Malaysia (RIIAM) (139281-V) • Board of Governors – Dato’ Mohammed Azlan Hashim • Director – Haji Wan Fauzi Wan Mahmood (Chairman) • Deputy Director – Abdullah Naib Chan Guan Seng • Company Secretaries – Izlan Izhab Dato’ Ranita Mohd Hussein Abdul Raihan Mohd Yusof Tan Kim Leong • Auditors – Messrs Hanafiah Raslan & Mohamad Benny Ng Wu Hong • Tax Consultants – HRM (Tax Services) Sdn Bhd Dato’ Mohd Salleh Abdul Majid • Bankers – Bumiputra-Commerce Bank Berhad Prof Tan Sri Dato’ Dr Syed Jalaluddin • Registered Office – Research Institute of Investment Syed Salim Analysts Malaysia 6th Floor, Exchange Square Bukit Kewangan 50200 Kuala Lumpur Tel: 03-206 7099 Fax: 03-206 3701 Yayasan BSKL (464552-M) • Board of Governors – Dato’ Mohammed Azlan Hashim • Company Secretaries – Izlan Izhab (Chairman) Abdul Raihan Mohd Yusof Chan Guan Seng • Auditors – Messrs Hanafiah Raslan & Mohamad Abdul Kadir Hj Md Kassim • Tax Consultants – HRM (Tax Services) Sdn Bhd Haji Abdul Karim Harun • Bankers – Malayan Banking Berhad Dato’ N Sadasivan a/l NN Pillay • Registered Office – Yayasan BSKL Dato’ Che Mohd Annuar 14th Floor, Exchange Square Che Mohd Senawi Bukit Kewangan Dato’ Syed Danial Syed Ahmad 50200 Kuala Lumpur Tel: 03-206 7099 Fax: 03-206 3684 3 Dato’ Mohammed Azlan Hashim Executive Chairman Annual Report 1999 Executive Chairman’s Statement THE LAST YEAR OF THIS MILLENNIUM SAW THE KUALA LUMPUR STOCK EXCHANGE TAKING FIRM STEPS ON STILL SHAKY GROUND. IF IT TAKES PLAIN SPEAKING TO DESCRIBE THE MAGNITUDE OF THE EXPERIENCE, THEN PLAIN SPEAKING MUST BE EXCUSED. THERE WERE SO MANY NEEDS TO ADDRESS AT ONCE. THERE WAS THE NEED TO PROTECT, THE NEED TO REBUILD, THE NEED TO EXPAND AND GROW. AND ALL THESE TO DO, AGAINST A BACKDROP OF CHALLENGES THAT NEVER SEEMED TO TIRE IN TESTING THE COLLECTIVE WILL AND RESOLVE OF THIS ECONOMY, AND THIS NATION. IF INDEED IT WAS A PERIOD OF ANTICIPATING THE WORST TO COME, IT WAS ALSO A PERIOD OF PREPARING FOR THE BEST THAT HAS YET TO ARRIVE. This was certainly the belief shared by the 17 new companies being listed on the Kuala Lumpur Stock Exchange (KLSE) for the period under review, raising RM474 million. As at the end of the financial year, the total number of companies listed on the KLSE was 745, with 458 companies listed on the Main Board and 287 companies on the Second Board. As efforts to rebuild the economy, financial system and capital markets continued to be strengthened, the confidence which once ebbed from the economy, and the stockmarket, flowed to return. The result was a series of record highs in the market, experienced to date. The highest ever daily volume of 1.6 billion shares was recorded on 12 July 1999. The highest ever daily trade transactions of over 450,000 trades, was also recorded on the same day. The highest ever daily order transactions of over 860,000 orders was recorded on 15 July 1999. The overall investment environment we were operating in, however, was still characterised by recovery and growth. Fortunately, the effort did not stop short of just looking to rebuild and recover in the aftermath of past challenges. As we stand together at the cusp of a new Millennium, allow me to ask: Are we truly mindful of the enormity of new challenges we may yet face in the coming age? Will we be standing on a strong foundation built from tested experience and knowledge, or are there shifting sands of fear and insecurity beneath our feet, as we usher in the new era? 5 Kuala Lumpur Stock Exchange Executive Chairman’s Statement Thus, in offering the following report, it is as much a testament of examining our efforts in an eventful time as it is an agenda for