Colour, Fun & Inspiration!
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Pelikan International Corporation Berhad Corporation International Pelikan Pelikan International Corporation Berhad (Company No. 63611-U) ANNUAL REPORT 2013 (63611-U) COLOUR, FUN COLOUR, COLOUR, FUN & INSPIRATION! & INSPIRATION! Pelikan International Corporation Berhad (Company No. 63611-U) REPORT ANNUAL No. 9, Jalan Pemaju U1/15 Seksyen U1 Hicom Glenmarie Industrial Park 40150 Shah Alam Selangor Darul Ehsan 2013 Malaysia T (+603) 5569 5511 F (+603) 5569 5500 www.pelikan.com Revenue by Product Group in 2013 office school printer 28.01% 16.26% 34.46% consumables VISION To be globally recognised as a market-leading brand offering a range of products that reflects the highest standards of quality, innovation and timeless German heritage. OuR GuIding PrincipleS 9.15% 3.24% 4.39% 4.49% others papeterie hobby, art & craft hobby, fine writing instruments fine writing MISSION We create products that inspire brand awareness since young Selecting and developing a creativity and imagination, fulfil from children to adults network of effective distribution customers’ satisfaction and channels Accumulating in-depth knowledge confidence by offering the highest of our customers’ needs and Recruiting, training, developing, quality products and services. provide the expected solutions retaining and rewarding talented We accomplish our mission by: and motivated people Applying proven technology and Establishing a strong brand tools for developing and executing Ensuring the environment in which presence worldwide by building innovative ideas we operate is safe, healthy and secured Quality • Innovation • Commitment • Integrity • Teamwork 175 years of colour, Fun & Inspiration! In the last 175 years, the Pelikan brand has roosted in several continents and what was originally a German heritage is now a celebration of many cultures, communities and lifestyle. Today, Pelikan products cater to all age groups and diverse creative uses – from school to work, moments of creativity, and for a defining touch of luxury. There is always a Pelikan that will inspire you. cONTeNTS 001 001 Vision & Mission 002 Financial Highlights 003 Corporate Information 004 175 Years of Colour, Fun & Inspiration! 006 Group Corporate Structure 008 Chairman & CEO’s Statement 2013 016 Board of Directors’ Profile 022 Group Management Team 024 Group Operations Review 2013 044 Diary of Events 050 Statement on Corporate Governance 060 Statement on Risk Management and Internal Control 063 Statement on Internal Audit Function 066 Audit Committee Report 070 Statement on Corporate Social Responsibility 074 Financial Calendar 075 Financial Statements 163 Additional Compliance Information 165 Analysis of Shareholdings 169 List of Group Properties 170 Pelikan Group of Companies Directory 174 Notice of Annual General Meeting Form of Proxy 002 ANNUAL REPORT 2013 Financial Highlights for the financial year ended 31 December 2013 2013 2012 2011 2010 2009 ReSTATed ReSTATed ReSTATed ReSTATed Revenue RM’000 1,442,136 1,601,203 1,923,368 1,786,848 1,202,494 Profit/(Loss) before tax RM’000 2,619 (48,743) (63,292) 147,986 41,566 (Loss)/Profit for the financial year RM’000 (13,660) (65,116) (101,302) 130,791 31,057 (Loss)/Profit for the financial year attributable to owners of the parent RM’000 (5,602) (58,044) (88,423) 127,808 27,814 Equity attributable to owner of the parent RM’000 545,244 537,607 656,863 768,763 532,672 Basic (loss)/earning per share sen (1.10) (11.46) (17.44) 24.90 7.52 Fully diluted (loss)/earning per share sen (1.10) (11.46) (17.44) 24.90 7.52 Net asset per share attributable to owner of the parent sen 1.06 1.05 1.28 1.50 1.55 Dividend per share – proposed sen – – 3.00 2.00 2.00 Revenue Profit/(loss) before Tax equity Attributable (RM’000) (RM’000) (RM’000) 147,986 768,763 1,923,368 1,786,848 41,566 656,863 1,601,203 545,244 1,442,136 537,607 2,619 532,672 1,202,494 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 (63,292) (48,743) Basic (loss)/earning Per Share Net Assets (sen) (sen) 1.55 24.90 1.50 1.28 7.52 1.06 1.05 (1.10) 2009 2010 2011 2012 2013 (17.44) (11.46) 2009 2010 2011 2012 2013 Pelikan International Corporation Berhad 003 corporate Information BOARd OF dIRecTORS Tan Sri Abi Musa Asa’ari bin Mohamed Nor Dato’ Lua Choon Hann Chairman & Independent Non-Executive Director Independent Non-Executive Director Loo Hooi Keat Yap Kim Swee President/Chief Executive Officer Independent Non-Executive Director Dato’ Afifuddin bin Abdul Kadir Datuk Rozaida binti Omar Independent Non-Executive Director Non-Independent Non-Executive Director Dato’ Mohamad Norza bin Zakaria Normimy binti Mohamed Noor Independent Non-Executive Director Non-Independent Non-Executive Director cOMMITTee AUDIT NOMINATION ReMuNeRATION eXecuTIVeS’ SHARe OPTION ScHeMe Yap Kim Swee Yap Kim Swee Tan Sri Abi Musa Asa’ari Tan Sri Abi Musa Asa’ari Chairman Chairman bin Mohamed Nor bin Mohamed Nor Chairman Chairman Dato’ Afifuddin Dato’ Afifuddin bin Abdul Kadir bin Abdul Kadir Yap Kim Swee Loo Hooi Keat Datuk Rozaida binti Omar Dato’ Lua Choon Hann Dato’ Mohamad Norza Yap Kim Swee bin Zakaria cOMPANY SecReTARIeS SHARe ReGISTRAR PRINcIPAl BANKeRS Ho Ming Hon Tricor Investor Services Sdn Bhd AmBank (M) Berhad (MICPA 3814) Level 17, The Gardens North Tower CIMB Bank Berhad Mid Valley City HSBC Bank Malaysia Berhad Chua Siew Chuan Lingkaran Syed Putra (MAICSA 0777689) 59200 Kuala Lumpur, Malaysia Malayan Banking Berhad Tel: (+603) 2264 3883 AUDITORS Fax: (+603) 2282 1886 STOcK eXcHANGe lISTING BDO (AF 0206) Main Market of ReGISTeRed OFFICE Chartered Accountants Bursa Malaysia Securities Berhad, th 12 Floor Menara Uni. Asia No. 9 Jalan Pemaju U1/15 Malaysia 1008 Jalan Sultan Ismail Seksyen U1 Stock Name: PELIKAN 50250 Kuala Lumpur, Malaysia Hicom Glenmarie Industrial Park Stock Code: 5231 Tel: (+603) 2616 2888 40150 Shah Alam Fax: (+603) 2616 3190 Selangor Darul Ehsan, Malaysia WeBSITe Tel: (+603) 5569 5511 Fax: (+603) 5569 5522 www.pelikan.com 004 ANNUAL REPORT 2013 of colour, Fun & Inspiration! Pelikan has been making history for 175 years now, since 28 April 1838, when chemist Carl Hornemann released the first price list for his paint factory. This was the foundation laid for the success of this world renowned stationery and writing instruments company from Hanover, Germany. Pelikan International Corporation Berhad 005 Under the motto “175 Years of Pelikan”, the 2013 Jubilee looked back at Pelikan’s rich heritage of progress from a one-man company to a multinational corporation. From paint and ink to a high quality array of stationery solutions for diverse age groups. From a distinct German tradition to an integrated global business. Through the changes and evolution, one thing has remained constant – and that is a time tested commitment to unwavering quality. To commemorate Pelikan’s 175th anniversary, a special highlight for 2013 was the unveiling of the Limited Edition M101N Jubilee Pen called the “Lizard”, modeled after a vintage Pelikan FWI edition, which became a favourite amongst pen connoisseurs. Only 238 of these noble fountain pens were available worldwide and have now been sold out. 006 ANNUAL REPORT 2013 Group corporate Structure 2.60% Pelikan International corporation Berhad (Company No. 63611-U) ôîóô ìëë ìëë òëôí ìëë ôïôë +}y #| " +}y +|{ +}y #y|{ #| " #} "y }| !y}}} (y .2$/5 -') (yyy .| | .2$/5 -') }}}{y~ "|ä{}y 1} }}}{y~ ('4.$ " -()4 " z# z# *z} ìëë " -()4 !y}}} &" ìëë +}y #y|{ } '| " -()4 ìëë ìëë ìëë ìëë +}y (||} y !5 .*/') +}y )}|}y| 1 +}y $yy +}y ${ +}y y .| | 0)$/ - ($-/ . /# ) /# -'). 0. 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'"$0( ìëë +}y !y{} .. !-) ìëë '}y " z# " -()4 ìëë +}y )|{ +{y {} .2 ) +|{ z $} }+} #| ìëë -}(}{ " z# y$y{} z " -()4 +|{ .}{} ìëë +}y #y|{ z " z# &" " -()4 ìëë +}y z 1}y " z# " -()4 Pelikan International Corporation Berhad 007 AMeRIcAS Sales & marketing organisations in • Mexico • colombia • Argentina Percentage of Group’s revenue % (2012: 12.3%) 13.7 Manufacturing plants facilities 2 Pelikan International corporation Berhad (Company No. 63611-U) employees (2012: 618) 597 ôîóô ìëë ìëë òëôí ìëë ôïôë +}y #| " +}y +|{ +}y #y|{ #| " #} "y }| !y}}} (y .2$/5 -') (yyy .| | .2$/5 -') }}}{y~ "|ä{}y 1} }}}{y~ ('4.$ " -()4 " z# z# *z} ìëë " -()4 !y}}} &" euROPe ìëë +}y #y|{ } '| " -()4 ìëë ìëë ìëë ìëë +}y (||} y !5 .*/') +}y )}|}y| 1 +}y $yy +}y ${ +}y y .| | 0)$/ - ($-/ . Sales & marketing organisations in /# ) /# -'). 0. 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