Laporan Pengarah

LAPORAN PENGARAH

Para pengarah dengan sukacitanya mengemukakan laporan mereka berserta penyata kewangan teraudit Kumpulan dan Syarikat bagi tahun kewangan berakhir 31 Disember 2000.

AKTIVITI UTAMA

Aktiviti utama Syarikat adalah pemegangan pelaburan. Aktiviti utama syarikat-syarikat subsidiari dan syarikat bersekutunya adalah seperti yang dinyatakan masing-masing dalam Nota 8 dan 9 kepada penyata kewangan. Aktiviti-aktiviti tersebut tidak mengalami sebarang perubahan ketara di sepanjang tahun kewangan ini.

KEPUTUSAN KEWANGAN Kumpulan Syarikat RM’000 RM’000

(Kerugian)/keuntungan bersih untuk tahun kewangan sebelum kepentingan minoriti (122,467) 5,263 Kepentingan minoriti 21,659 –

(Kerugian)/keuntungan bersih untuk tahun kewangan selepas kepentingan minoriti (100,808) 5,263 Pindahan dari rizab berkanun 18,421 – Keuntungan terkumpul dibawa ke hadapan 461,643 27,945

Keuntungan sedia untuk diagihkan 379,256 33,208 Dividen untuk 2000 (6,643) (6,643) Peruntukan dividen terkurang untuk 1999 (29) (29)

Keuntungan terkumpul dihantar ke hadapan 372,584 26,536

DIVIDEN

Jumlah dividen dibayar atau disyorkan oleh Syarikat sejak 31 Disember 1999 adalah seperti berikut:-

RM’000 Bagi tahun kewangan berakhir 31 Disember 1999 seperti yang dinyatakan dalam laporan para pengarah tahun kewangan berkenaan:

Dividen akhir 1 sen kasar sesaham, ditolak 28% cukai pendapatan, dibayar pada 12 Jun 2000 4,168

Para pengarah kini mengesyorkan pembayaran dividen terakhir 1 sen kasar sesaham, ditolak 28% cukai pendapatan, berjumlah RM6,643,116 bagi tahun kewangan berakhir 31 Disember 2000.

RIZAB DAN PERUNTUKAN

Tiada pindahan ketara kepada atau daripada rizab atau peruntukan ketara di sepanjang tahun kewangan selain daripada yang dinyatakan dalam penyata kewangan dan nota-nota kepada penyata kewangan.

24 LAPORAN PENGARAH (SAMBUNGAN)

TERBITAN SAHAM

Dalam tahun kewangan ini, berikut adalah saham-saham biasa berharga RM1 yang telah diterbitkan oleh Syarikat secara tunai dan pertukaran saham.

Terma-terma Kelas Bilangan Tarikh terbitan saham Tujuan saham ‘000

Sepanjang Pada RM3.57 sesaham Biasa Perlaksanaan Skim 3,992 tahun Opsyen Saham Kakitangan-I

Sepanjang tahun Pada RM3.75 sesaham Biasa Perlaksanaan Waran 1

20 Januari 2000 Pada RM2.10 sesaham Biasa Tawaran awam 36,224 mandatori untuk baki saham ACF Holdings Berhad yang tidak dimiliki oleh Syarikat

8 Julai 2000 Pada RM2.10 sesaham Biasa Terbitan hak 307,552

347,769

Saham biasa baru yang diterbitkan bertaraf pari passu dengan saham sedia ada.

PARA PENGARAH

Para pengarah yang memegang jawatan sejak tarikh laporan terakhir adalah:

Jen. (B) Tan Sri Dato’ Seri Ismail bin Omar Dato’ Lodin bin Wok Kamaruddin Raja Dato’ Aman bin Raja Haji Ahmad Mej. Jen. (B) Dato’ Mohamed Isa bin Che Kak En. Azzat bin Kamaludin Lt. Jen. (B) Dato’ Seri Abdul Ghani bin Abdul Aziz (dilantik pada 1.3.2001)

Mengikut Artikel 101 Tataurusan Syarikat, Mej. Jen. (B) Dato’ Mohamed Isa bin Che Kak bersara pada Mesyuarat Agong Tahunan yang akan datang dan kerana layak, menawarkan dirinya untuk dilantik semula.

Mengikut Artikel 108 Tataurusan Syarikat, Lt. Jen. (B) Dato’ Seri Abdul Ghani bin Abdul Aziz bersara pada Mesyuarat Agung Tahunan yang akan datang dan kerana layak, menawarkan dirinya untuk dilantik semula.

MANFAAT PARA PENGARAH

Sepanjang dan pada akhir tahun kewangan ini, Syarikat atau subsidiarinya tidak menjadi pihak kepada sebarang perjanjian yang matlamatnya adalah untuk membolehkan para pengarah Syarikat menerima manfaat menerusi perolehan saham atau debentur Syarikat atau sebarang badan korporat lain kecuali bagi opsyen saham yang diberi kepada Pengarah Syarikat mengikut Skim Opsyen Saham Kakitangan dan opsyen yang diberi oleh Boustead Holdings Berhad dan Lembaga Tabung Angkatan Tentera.

Sejak akhir tahun kewangan lepas, tiada pengarah Syarikat yang menerima atau layak menerima sebarang manfaat (selain daripada imbuhan pengarah seperti yang dinyatakan dalam nota 27 kepada penyata kewangan) disebabkan oleh kontrak yang dibuat oleh Syarikat atau badan korporat yang berkaitan dengan pengarah atau dengan firma di mana pengarah menjadi ahli atau dengan firma di mana pengarah memiliki kepentingan kewangan nyata.

25 LAPORAN PENGARAH (SAMBUNGAN)

KEPENTINGAN PARA PENGARAH

Mengikut daftar pemegangan saham pengarah, kepentingan para pengarah yang memegang jawatan pada akhir tahun kewangan ini dalam saham-saham, waran-waran dan opsyen ke atas saham-saham di dalam Syarikat dan syarikat berkaitan adalah seperti berikut:

Bilangan biasa saham bernilai RM1 sesaham Penukaran Pada (kepada)/ Pada 1.1.2000 Dibeli daripada Dijual 31.12.2000 Syarikat

Raja Dato’ Aman bin Raja Haji Ahmad 37,000 18,500 – – 55,500 Azzat bin Kamaludin 65,000 45,000 – – 110,000 Dato’ Lodin bin Wok Kamaruddin – – 5,714+ – 5,714 – 3,000 – – 3,000

Syarikat-syarikat subsidiari

ACF Holdings Berhad

Dato’ Lodin bin Wok Kamaruddin 10,000 – (10,000)+ – –

+ Penukaran saham ACF Holdings Berhad kepada saham Syarikat, ekoran daripada tawaran awam mandatori untuk baki saham ACF Holdings Berhad yang tidak dimiliki oleh Syarikat.

Bilangan saham biasa bernilai RM10 sesaham, RM5 belum dipanggil Pada Pada 1.1.2000 Dibeli Dijual 31.12.2000 PAB Trustee Berhad

Raja Dato’ Aman bin Raja Haji Ahmad 20,000 – – 20,000*

* Saham-saham ini dipegang atas amanah untuk Affin Bank Berhad (dahulunya dikenali sebagai Perwira Affin Bank Berhad)

Bilangan waran Pada Pada Syarikat 1.1.2000 Dibeli Dijual 31.12.2000

Raja Dato’ Aman bin Raja Haji Ahmad 3,000 9,628 – 12,628 Azzat bin Kamaludin – 22,500 – 22,500 Mej. Jen. (B) Dato’ Mohamed Isa bin Che Kak 3,000 378 – 3,378 Dato’ Lodin bin Wok Kamaruddin – 1,500 – 1,500

Opsyen untuk saham biasa bernilai RM1 sesaham Pada Pada Syarikat 1.1.2000 Diberi Dilanggan 31.12.2000

Raja Dato’ Aman bin Raja Haji Ahmad 9,500,000 – – 9,500,000**

** Opsyen selama lima tahun ini diberikan oleh Lembaga Tabung Angkatan Tentera (‘LTAT’) untuk membeli 10,000,000 saham Syarikat dari LTAT pada harga RM2.50 sesaham. Opsyen ini akan tamat pada 22 November 2003.

26 LAPORAN PENGARAH (SAMBUNGAN)

KEPENTINGAN PARA PENGARAH (SAMBUNGAN)

Opsyen untuk saham biasa bernilai 50 sen sesaham Pada Pada Syarikat berkaitan 1.1.2000 Diberi Dilanggan 31.12.2000

Boustead Holdings Berhad

Dato’ Lodin bin Wok Kamaruddin 500,000 – – 500,000# 9,500,000 – – 9,500,000##

# Opsyen ini telah diberikan oleh Boustead Holdings Berhad dibawah Skim Opsyen Saham Kakitangannya pada harga opsyen dalam lingkungan RM5.19 ke RM5.55 dan akan tamat pada 13 Jun 2001.

## Opsyen selama lima tahun ini diberikan oleh LTAT untuk membeli 9,500,000 saham Boustead Holdings Berhad dari LTAT pada harga RM3.50 sesaham. Opsyen ini akan tamat pada 22 November 2003.

Selain daripada yang dinyatakan di atas, para pengarah yang memegang jawatan pada akhir tahun kewangan ini tidak mempunyai sebarang kepentingan dalam saham, waran dan opsyen ke atas saham-saham di dalam Syarikat atau syarikat-syarikat berkaitan di sepanjang tahun kewangan ini.

SKIM OPSYEN SAHAM KAKITANGAN

Skim Opsyen Saham Kakitangan 1 (‘ESOS 1’) Affin Holdings Berhad telah diluluskan oleh pemegang-pemegang saham di Mesyuarat Luar Biasa pada 25 Januari 1995. Skim Opsyen Saham Kakitangan 2 (‘ESOS 2’) telah diluluskan oleh Lembaga Pengarah pada 28 Oktober 1996. ESOS 1 dan ESOS 2 telah tamat pada 9 Mac 2000.

Ciri-ciri utama ESOS 1 dan ESOS 2 adalah seperti berikut:

(a) Mereka yang berkelayakan adalah kakitangan yang telah mendapat pengesahan dan telah berkhidmat secara terus menerus dengan Kumpulan sekurang-kurangnya dua belas bulan, atau adalah Pengarah Eksekutif Syarikat sepenuh masa yang telah disahkan sebagai layak untuk mengambil bahagian dalam Skim ini.

(b) Jumlah bilangan saham yang ditawarkan di bawah skim ESOS 1 dan ESOS 2 (termasuk saham yang diterbitkan untuk kakitangan semasa Syarikat disenaraikan di Bursa Saham Kuala Lumpur pada 1991) tidak boleh melebihi 10% dari modal saham terbitan Syarikat pada bila-bila masa ESOS 1 dan ESOS 2 diwujudkan yang masing- masing akan berkuatkuasa selama lima tahun dari 10 Mac 1995 dan tiga tahun dan empat bulan dari 28 Oktober 1996.

(c) Harga opsyen bagi setiap saham biasa akan berdasarkan purata sebutharga pasaran saham Syarikat seperti yang disenaraikan di dalam senarai harian Bursa Saham Kuala Lumpur bagi lima hari pasaran sebelum tarikh tawaran atau pada nilai nominal saham, yang mana lebih tinggi.

(d) Tiada opsyen akan diberi untuk saham yang berjumlah kurang dari 7,000 atau lebih dari 200,000 kepada kakitangan yang layak.

(e) Bilangan saham di bawah opsyen dan harga opsyen, selagi ianya belum dilaksanakan, mestilah diubahsuai sekiranya berlaku sebarang pindaan kepada modal saham Syarikat yang diterbitkan melalui permodalan keuntungan atau rizab atau sebarang pembahagian dan penyatuan saham.

27 LAPORAN PENGARAH (SAMBUNGAN)

SKIM OPSYEN SAHAM KAKITANGAN (SAMBUNGAN)

(f) Opsyen yang diberi di bawah ESOS 1 dan ESOS 2 boleh dilaksanakan oleh pemegang opsyen dengan memberi notis bertulis kepada Syarikat sepanjang jangkamasa bermula dari tarikh tawaran dan berakhir pada 9 Mac 2000. Opsyen boleh dilaksanakan secara penuh atau sebahagiannya asalkan bilangannya berada di dalam angkali 1,000 saham.

(g) Saham-saham di bawah opsyen tidak akan diterbitkan sehingga ianya dilaksanakan dan apabila diterbitkan, bertaraf pari passu di dalam segala hal dengan saham-saham Syarikat yang sedia ada kecuali saham-saham tersebut tidak bertaraf untuk dividen atau pengagihan lain yang disyorkan, dibayar kepada pemegang- pemegang saham sebelum opsyen dilaksanakan dan akan dihadkan kepada peruntukan yang disebut di dalam Tataurusan Syarikat berkenaan dengan pertukaran, penyerahan dan sebagainya.

Kakitangan yang diberi opsyen di bawah skim ini tidak berhak menyertai sebarang terbitan saham syarikat lain oleh kerana opsyen tersebut. Pada tarikh tamat tempoh opsyen, kakitangan telah melaksanakan opsyen sebanyak 3,992,000 saham pada harga RM3.57 sesaham.

Pergerakan opsyen untuk tawaran saham biasa baru yang belum diterbitkan pada RM1 sesaham dan harga opsyen di mana kakitangan berhak untuk melaksanakan opsyen mereka dalam tahun kewangan ini sehingga tamat tempoh opsyen pada 9 Mac 2000 adalah seperti berikut:

- Opsyen ke atas saham biasa bernilai RM1 sesaham Pada harga Pada harga RM3.57 RM6.26 Jumlah

Pada 1 Januari 2000 8,955,000 8,290,000 17,245,000 Dilaksanakan dalam masa kewangan 3,992,000 - 3,992,000

Pada 9 Mac 2000 12,947,000 8,290,000 21,237,000

MAKLUMAT BERKANUN MENGENAI PENYATA KEWANGAN

Sebelum penyata-penyata kewangan Kumpulan dan Syarikat disediakan, para pengarah telah mengambil langkah- langkah yang sewajarnya:

(a) untuk memastikan bahawa tindakan telah diambil berkaitan dengan pemansuhan hutang lapuk dan pembiayaan tidak berbayar dan membuat peruntukan hutang ragu dan pembiayaan tidak berbayar dan berpuas hati bahawa kesemua hutang dan pembiayaan lapuk yang diketahui telah dihapuskira dan peruntukan secukupnya telah dibuat bagi hutang dan pembiayaan tidak berbayar; dan

(b) untuk memastikan bahawa aset semasa, selain dari hutang-hutang yang tidak mungkin dipasti perolehannya dalam urusniaga biasa jumlah nilainya seperti dinyatakan didalam rekod-rekod perakaunan Kumpulan dan Syarikat, telah dikurangkan nilainya kepada nilai dianggap boleh diperolehi.

Pada tarikh laporan ini, para pengarah tidak mengetahui kewujudan sebarang keadaan yang boleh menyebabkan:

(a) jumlah yang dimansuhkan bagi hutang lapuk dan pembiayaan tidak berbayar atau peruntukan bagi hutang ragu, tidak mencukupi had sewajarnya bagi Kumpulan dan Syarikat;

(b) nilai-nilai aset semasa di dalam penyata kewangan Kumpulan dan Syarikat mengelirukan; atau

(c) pematuhan kepada kaedah penilaian aset atau tanggungan di dalam penyata kewangan Kumpulan dan Syarikat, mengelirukan atau tidak sesuai.

28 LAPORAN PENGARAH (SAMBUNGAN)

MAKLUMAT BERKANUN MENGENAI PENYATA KEWANGAN (SAMBUNGAN)

Pada tarikh laporan ini, tidak terdapat:

(a) sebarang tuntutan ke atas aset-aset Kumpulan dan Syarikat yang telah wujud sejak akhir tahun kewangan ini dan yang menjaminkan liabiliti pihak lain; atau

(b) sebarang liabiliti luar jangka Kumpulan dan Syarikat yang telah wujud sejak akhir tahun kewangan ini.

Tiada liabiliti luarjangkaan atau liabiliti-liabiliti lain Kumpulan atau Syarikat yang telah berkuatkuasa, atau mungkin berkuatkuasa dalam tempoh dua belas bulan selepas akhir tahun kewangan yang, pada pendapat para pengarah, akan menjejas, dengan ketara, kemampuan Kumpulan atau Syarikat untuk memenuhi tanggungannya apabila tiba masanya.

Pada tarikh laporan ini, para pengarah tidak mengetahui sebarang keadaan selain daripada yang telah dibentangkan dalam laporan atau penyata kewangan ini yang mungkin menyebabkan sebarang amaun yang dinyatakan dalam penyata kewangan ini mengelirukan.

Pada pendapat para pengarah,

(a) keputusan operasi Kumpulan dan Syarikat pada tahun kewangan ini tidak terjejas dengan ketara disebabkan oleh sebarang urusniaga atau peristiwa yang penting dan luar biasa; dan

(b) tidak timbul dalam tempoh di antara akhir tahun kewangan dan tarikh laporan ini sebarang perkara, urusniaga atau peristiwa yang penting dan luar biasa yang berkemungkinan akan menjejaskan dengan ketara keputusan operasi Kumpulan dan Syarikat untuk tahun kewangan yang dilaporkan.

PERISTIWA-PERISTIWA PENTING SEPANJANG TAHUN KEWANGAN INI

Peristiwa-peristiwa penting sepanjang tahun kewangan ini dinyatakan dalam nota 41 pada penyata kewangan.

BADAN KORPORAT PEMEGANG MUKTAMAD

Para pengarah menganggap Lembaga Tabung Angkatan Tentera, sebuah badan korporat yang ditubuhkan di bawah Akta Tabung Angkatan Tentera, 1973, sebagai badan korporat pemegang muktamad Syarikat.

JURUAUDIT

Juruaudit, PricewaterhouseCoopers, telah menyatakan kesediaan mereka untuk meneruskan perkhidmatan mereka.

Bagi pihak Lembaga Pengarah bersamaan dengan resolusi Lembaga Pengarah bertarikh 23 April 2001

DATO’ LODIN BIN WOK KAMARUDDIN AZZAT BIN KAMALUDIN Pengarah Pengarah

Kuala Lumpur

29 LEMBARAN IMBANGAN 31 DISEMBER 2000

KUMPULAN SYARIKAT Nota 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 ASET

Tunai dan dana jangka pendek 2 2,091,160 2,137,118 330,499 16,968 Sekuriti yang dibeli di bawah perjanjian jual balik – 41,880 – – Deposit dan penempatan dengan institusi–institusi kewangan 3 891,043 700,712 30,249 3,272 Sekuriti dagangan 4 63,066 365,097 – – Sekuriti pelaburan 5 6,013,609 4,759,143 – 4,000 Pinjaman, pendahuluan dan pembiayaan 6 13,657,993 14,406,078 – – Deposit berkanun dengan Bank Negara Malaysia 7 606,679 626,226 – – Syarikat–syarikat subsidiari 8 – – 2,141,600 2,055,042 Syarikat bersekutu 9 37,563 43,077 6,597 10,197 Penghutang dagangan 10 45,299 34,495 – – Aset lain 11 284,660 400,458 2,364 1,486 Cukai akan perolehi semula 20,934 47,772 18,575 47,772 Faedah cukai tertunda 12 – 1,460 – – Perbelanjaan tertunggak 368 9,050 368 629 Muhibah daripada penyatuan 607,915 602,991 – – Aset tetap 13 336,076 323,527 3 5

JUMLAH ASET 24,656,365 24,499,084 2,530,255 2,139,371

LIABILITI, DANA PEMEGANG SAHAM DAN KEPENTINGAN MINORITI

Deposit daripada pelanggan 14 15,904,826 16,057,790 – – Deposit dan penempatan daripada bank–bank dan institusi–institusi kewangan lain 15 3,658,503 3,566,303 – – Tanggungan bagi sekuriti yang dijual di bawah perjanjian beli balik 166,425 182,878 – – Bil dan penerimaan jurubank 717,657 783,216 – – Pemiutang dagangan 16 37,989 32,241 – – Liabiliti–liabiliti lain 17 568,121 501,851 11,235 16,921 Cukai 47,233 42,345 17,858 29,906 Cukai tertunda 18 12,421 12,421 – – Pinjaman jangka pendek 19 50,651 550,090 – 500,090 Liabiliti jangka panjang 20 685,075 497,250 670,000 495,000

JUMLAH LIABILITI 21,848,901 22,226,385 699,093 1,041,917

30 LEMBARAN IMBANGAN (SAMBUNGAN) 31 DISEMBER 2000

KUMPULAN SYARIKAT Nota 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

LIABILITI, DANA PEMEGANG SAHAM DAN KEPENTINGAN MINORITI (SAMBUNGAN)

Modal saham 21 922,656 574,887 922,656 574,887 Premium saham 880,970 493,622 880,970 493,622 Rizab 22 772,809 880,341 27,536 28,945

DANA PEMEGANG SAHAM 2,576,435 1,948,850 1,831,162 1,097,454

KEPENTINGAN MINORITI 231,029 323,849 – –

JUMLAH LIABILITI, DANA PEMEGANG SAHAM DAN KEPENTINGAN MINORITI 24,656,365 24,499,084 2,530,255 2,139,371

ILTIZAM DAN LUARJANGKAAN 38(c) 16,239,358 10,594,176 – –

Dasar-dasar perakaunan di mukasurat 41 hingga 46 dan nota-nota di mukasurat 47 hingga 82 adalah sebahagian daripada penyata kewangan ini.

31 PENYATA PENDAPATAN BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

KUMPULAN SYARIKAT Nota 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Pendapatan faedah 23 1,368,942 1,283,030 22,007 15,449 Perbelanjaan faedah 24 (615,509) (772,381) – –

Pendapatan faedah bersih 753,433 510,649 22,007 15,449 Pendapatan Skim Perbankan Islam 25 32,143 32,577 – –

785,576 543,226 22,007 15,449 Pendapatan bukan faedah 26 226,835 225,275 28,626 66,765

1,012,411 768,501 50,633 82,214 Perbelanjaan overhed 27 (449,909) (328,373) (5,832) (8,639)

Keuntungan operasi sebelum kerugian pinjaman, peruntukan pinjaman dan pembiayaan 562,502 440,128 44,801 73,575 Kerugian pinjaman, peruntukan pinjaman dan pembiayaan 28 (604,796) (254,429) – –

(Kerugian)/keuntungan operasi (42,294) 185,699 44,801 73,575 Kos kewangan 29 (53,607) (55,018) (48,912) (50,290) Bahagian (kerugian)/keuntungan syarikat bersekutu (462) 13,640 – –

(Kerugian)/keuntungan sebelum butiran terkecuali (96,363) 144,321 (4,111) 23,285 Butiran terkecuali 30 – – – 2,260

(Kerugian)/keuntungan sebelum cukai dan zakat (96,363) 144,321 (4,111) 25,545 Zakat (642) (501) – – Cukai 31 (24,062) (2,387) 9,374 (15,644) Bahagian cukai syarikat bersekutu (1,400) 2,084 – –

(Kerugian)/keuntungan bersih untuk tahun kewangan sebelum kepentingan minoriti (122,467) 143,517 5,263 9,901 Kepentingan minoriti 21,659 (8,604) – –

(Kerugian)/keuntungan bersih untuk tahun kewangan selepas kepenting minoriti (100,808) 134,913 5,263 9,901

(Kerugian)/pendapatan sesaham (sen) 33 - Asas (14.2) 22.4 - Dicairkan sepenuhnya – –

Dividen sesaham biasa, 1 sen (1999: 1 sen) kasar sesaham, ditolak 28% cukai pendapatan 32 0.7 0.7

Dasar-dasar perakaunan di mukasurat 41 hingga 46 dan nota-nota di mukasurat 47 hingga 82 adalah sebahagian daripada penyata kewangan ini.

32 PENYATA PERUBAHAN DALAM EKUITI KUMPULAN BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

33 PENYATA PERUBAHAN DALAM EKUITI KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

34 PENYATA PERUBAHAN DALAM EKUITI SYARIKAT BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

35 PENYATA PERUBAHAN DALAM EKUITI SYARIKAT (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

36 PENYATA ALIRAN TUNAI KUMPULAN BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

2000 1999 RM’000 RM’000 ALIRAN TUNAI DARIPADA AKTIVITI OPERASI

(Kerugian)/keuntungan sebelum cukai dan zakat (96,363) 144,321

Pelarasan untuk perkara-perkara yang tidak melibatkan pergerakan wang tunai dan setara tunai:

Keuntungan dari jualan sekuriti dagangan (11,019) (940) Keuntungan dari jualan sekuriti pelaburan (11,769) (23,758) Penambahan diskaun ke atas sekuriti dan bon tolak pelunasan premium (61,494) (50,303) Perolehan dari peruntukan bagi penyusutan nilai sekuriti dagangan – (477) Peruntukan bagi penyusutan nilai sekuriti pelaburan 62,820 8,200 Peruntukan bagi hutang ragu, pembiayaan dan faedah tergantung 493,109 195,891 Peruntukan bagi hutang ragu - penghutang lain 12,639 – Peruntukan bagi jumlah akan diterima semula dari Danaharta 31,196 29,701 Peruntukan bagi faedah persaraan kakitangan 3,756 2,040 Hutang lapuk dilupuskan 24,560 27,695 Keuntungan dari jualan aset tetap (337) (146) Pelunasan perbelanjaan tertunggak 261 2,887 Aset tetap dilupuskan 77 13 Susutnilai aset tetap 56,967 33,583 Bahagian kerugian/(keuntungan) syarikat bersekutu 462 (13,640)

KEUNTUNGAN OPERASI SEBELUM PERUBAHAN MODAL KERJA 504,865 355,067

PENAMBAHAN/PENGURANGAN DARIPADA AKTIVITI OPERASI

Pengurangan pinjaman, pendahuluan dan pembiayaan 230,416 225,808 Pengurangan/(penambahan)aset lain 100,261 (89,403) Pengurangan deposit berkanun dengan Bank Negara Malaysia 19,547 13,533 Pengurangan/(penambahan) sekuriti dagangan 313,050 (291,756) Penambahan deposit dan penempatan dengan institusi-institusi kewangan (202,145) (222,377)

37 PENYATA ALIRAN TUNAI KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

Nota 2000 1999 RM’000 RM’000 PENAMBAHAN/PENGURANGAN DARIPADA AKTIVITI OPERASI (SAMBUNGAN)

Pengurangan perbelanjaan tertunggak 8,421 – Pengurangan deposit pelanggan (152,964) (32,268) Penambahan/(pengurangan) pemiutang lain 72,972 (50,510) Penambahan/(pengurangan) deposit dan penempatan daripada bank-bank dan institusi-institusi kewangan lain 92,200 (422,344) Pengurangan tanggungan untuk sekuriti dijual di bawah perjanjian beli balik (16,453) (63,042) (Pengurangan)/penambahan bil dan penerimaan jurubank (65,559) 158,628 Pengurangan sekuriti dibeli di bawah perjanjian jual balik 41,880 23,120 Penambahan penghutang dagangan (10,804) (34,495) Penambahan pemiutang dagangan 5,748 32,241

Wang tunai dijana daripada/(digunakan dalam) kegiatan operasi 941,435 (397,798)

Bayaran cukai pendapatan dan zakat (19,816) (55,135)

TUNAI BERSIH DIJANA DARIPADA/ (DIGUNAKAN DALAM) AKTIVITI OPERASI 921,619 (452,933)

ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN

(Pemerolehan)/pelupusan bersih sekuriti pelaburan (1,244,023) 735,415 Perolehan dari jualan aset tetap 718 415 Pembelian aset tetap (69,974) (109,463) Dividen diterima daripada syarikat bersekutu 3,600 720 Aliran tunai bersih daripada pemerolehan syarikat subsidiari 34 – 284,614 Aliran tunai bersih daripada pelupusan syarikat subsidiari 35 – (5,903) Pembayaran untuk saham dalam syarikat subsidiari berkenaan dengan tawaran awam mandatori (14) –

ALIRAN TUNAI (DIGUNAKAN DALAM)/ DIJANA DARIPADA AKTIVITI PELABURAN (1,309,693) 905,798

ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN

Penambahan liabiliti jangkamasa panjang 187,825 – Pengurangan pinjaman bank (499,439) (975) Dividen dibayar (4,168) (4,134) Perolehan daripada terbitan saham 660,114 407 Perbelanjaan terbitan saham (1,067) –

ALIRAN TUNAI BERSIH DIJANA DARIPADA/ (DIGUNAKAN DALAM) AKTIVITI PEMBIAYAAN 343,265 (4,702)

(PENGURANGAN)/TAMBAHAN BERSIH DALAM TUNAI DAN SETARA TUNAI (44,809) 448,163

TUNAI DAN SETARA TUNAI PADA AWAL TAHUN KEWANGAN 2,134,981 1,686,818

TUNAI DAN SETARA TUNAI PADA AKHIR TAHUN KEWANGAN 37 2,090,172 2,134,981

Dasar-dasar perakaunan di mukasurat 41 hingga 46 dan nota-nota di mukasurat 47 hingga 82 adalah sebahagian daripada penyata kewangan ini. 38 PENYATA ALIRAN TUNAI SYARIKAT BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

Nota 2000 1999 RM’000 RM’000

ALIRAN TUNAI DARIPADA AKTIVITI OPERASI

(Kerugian)/keuntungan sebelum cukai dan zakat (4,111) 25,545

Pelarasan untuk perkara-perkara yang tidak melibatkan pergerakan wang tunai dan setara tunai:

Pelunasan perbelanjaan tertunggak 261 698 Susutnilai aset tetap 2 1 Keuntungan dari pelupusan syarikat subsidiari – (2,260)

(KERUGIAN)/KEUNTUNGAN OPERASI SEBELUM PERUBAHAN MODAL KERJA (3,848) 23,984

PENAMBAHAN/PENGURANGAN DARIPADA AKTIVITI OPERASI

Penambahan aset lain (877) (3,520) Pengurangan pemiutang lain (8,191) (1,430) (Penambahan)/pengurangan deposit dan penempatan dengan institusi-institusi kewangan (26,977) 859

Tunai (digunakan dalam)/dijana daripada operasi (39,893) 19,893

Pembayaran balik cukai/(cukai dibayar) 26,523 (18,551)

TUNAI BERSIH (DIGUNAKAN DALAM )/DIJANA DARIPADA AKTIVITI OPERASI (13,370) 1,342

ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN

Pelupusan/(pemerolehan) bersih sekuriti pelaburan 4,000 (4,000) Belian aset tetap – (2) Dividen diterima dari syarikat bersekutu 3,600 720 Pembayaran untuk saham dalam syarikat subsidiari berkenaan dengan tawaran awam mandatori (14) – Pergerakan bersih atas jumlah dijangka terima dari syarikat subsidiari (1,474) (17,230) Pelaburan dalam syarikat subsidiari (9,000) (1,000)

TUNAI BERSIH DIGUNAKAN DALAM AKTIVITI PELABURAN (2,888) (21,512)

39 PENYATA ALIRAN TUNAI SYARIKAT (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

Nota 2000 1999 RM’000 RM’000

ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN

Pengurangan liabiliti jangkamasa panjang (255,000) – Pengurangan pinjaman bank (70,090) – Dividen dibayar (4,168) (4,134) Perolehan daripada terbitan saham 660,114 407 Perbelanjaan terbitan saham (1,067) –

TUNAI BERSIH DIJANA DARIPADA/(DIGUNAKAN DALAM) AKTIVITI PEMBIAYAAN 329,789 (3,727)

TAMBAHAN/(PENGURANGAN) BERSIH DALAM TUNAI DAN SETARA TUNAI 313,531 (23,897)

TUNAI DAN SETARA TUNAI PADA AWAL TAHUN KEWANGAN 16,968 40,865

TUNAI DAN SETARA TUNAI PADA AKHIR TAHUN KEWANGAN 37 330,499 16,968

Dasar-dasar perakaunan di mukasurat 41 hingga 46 dan nota-nota di mukasurat 47 hingga 82 adalah sebahagian daripada penyata kewangan ini. 40 RUMUSAN DASAR-DASAR PERAKAUNAN PENTING KUMPULAN BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

Dasar-dasar perakaunan yang berikut telah digunakan dengan konsisten dalam pengurusan perkara-perkara yang dianggap penting berkenaan dengan penyata kewangan.

A PENYEDIAAN PENYATA KEWANGAN

Penyata-penyata kewangan disediakan berdasarkan konvensyen kos sejarah dan mematuhi Piawaian Perakaunan yang diluluskan dan yang berkenaan di Malaysia serta mengikut Garis Panduan Bank Negara Malaysia dan peruntukan-peruntukan Akta Syarikat, 1965.

Penyata kewangan ini meliputi kegiatan Skim Perbankan Islam yang dikendalikan oleh Kumpulan. Skim Perbankan Islam merujuk kepada penerimaan deposit dan kelulusan pembiayaan mengikut prinsip-prinsip Syariah.

B ASAS PENYATUAN

Penyata kewangan yang disatukan termasuk penyata-penyata kewangan Syarikat dan syarikat-syarikat subsidiari yang disediakan sehingga akhir tahun kewangan. Urusniaga antara syarikat dihapuskan pada penyatuan dan penyata kewangan yang disatukan menunjukkan urusniaga luar sahaja. Kepentingan minoriti adalah dinyatakan berasingan. Syarikat-syarikat subsidiari disatukan mengikut kaedah perakaunan pemerolehan atau kaedah perakaunan penggabungan.

Di bawah kaedah perakaunan pemerolehan, keputusan syarikat-syarikat subsidiari yang diperolehi atau dilupuskan dalam tahun semasa diambil kira dari tarikh pemerolehan sehingga ke tarikh pelupusan. Pada tarikh pemerolehan, nilai saksama aset-aset bersih syarikat-syarikat subsidiari ditentukan dan nilai ini ditunjukkan di dalam penyata kewangan yang disatukan. Perbezaan antara kos pemerolehan dan nilai saksama aset-aset bersih syarikat-syarikat subsidiari ditunjukkan sebagai muhibah yang timbul berikutan penyatuan.

Di bawah kaedah perakaunan penggabungan, keputusan syarikat-syarikat subsidiari dikemukakan seolah- olah penggabungan telah berlaku di sepanjang tahun semasa dan tahun-tahun lepas. Dalam penyatuan, perbezaan antara nilai penyimpanan pelaburan dan nilai nominal saham diperolehi dipindahkan ke rizab penggabungan.

C MUHIBAH/RIZAB MODAL YANG TIMBUL BERIKUTAN PENYATUAN

Muhibah yang timbul berikutan penyatuan mewakili lebihan daripada harga belian berbanding nilai saksama aset bersih syarikat-syarikat pada tarikh pengambilalihan. Jumlah itu dikekalkan dalam lembaran imbangan yang disatukan dan penurunan nilainya dicatat hanya apabila para Pengarah berpendapat wujudnya pengurangan kekal dalam nilainya.

Rizab modal berikutan penyatuan mewakili lebihan daripada harga saksama aset bersih syarikat-syarikat subsidiari berbanding harga belian. Jumlah itu dikekalkan dalam lembaran imbangan yang disatukan dan tidak boleh diagihkan sehingga syarikat-syarikat subsidiari itu dijual.

D SYARIKAT-SYARIKAT SUBSIDIARI

Syarikat-syarikat subsidiari adalah syarikat di mana Syarikat menguasai ahli Lembaga Pengarahnya atau mempunyai lebih daripada setengah kuasa mengundi, atau memegang lebih daripada setengah terbitan modal saham biasanya.

Pelaburan dalam syarikat-syarikat subsidiari adalah dinyatakan pada kos atau pernilaian para pengarah, ditolak peruntukan penyusutan nilai kekal.

41 RUMUSAN DASAR-DASAR PERAKAUNAN PENTING KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

E SYARIKAT-SYARIKAT BERSEKUTU

Pelaburan di dalam syarikat-syarikat bersekutu adalah dinyatakan pada kos atau penilaian para pengarah, ditolak peruntukan penyusutan nilai berkekalan.

Kumpulan menganggap syarikat bersekutu sebagai syarikat di mana Kumpulan memiliki kepentingan ekuiti jangka panjang di antara 20% hingga 50% dan Kumpulan mempunyai kedudukan yang membolehkannya melaksanakan pengaruhnya menerusi penyertaan pengurusan.

Kumpulan mengambilkira bahagian keputusan selepas pengambilalihan dan rizab syarikat-syarikat bersekutu berdasarkan akaun pengurusan atau akaun diaudit yang terakhir syarikat-syarikat berkenaan.

F PENGIKTIRAFAN PENDAPATAN

(i) Pendapatan faedah diiktirafkan atas dasar akruan. Pendapatan atas urusniaga sewa-beli, diskaun blok dan pemajakan telah dikira mengikut kaedah jumlah digit. Faedah atas pinjaman rumah dan pinjaman- pinjaman lain telah dikira mengikut kaedah baki tahunan atau bulanan sepanjang tempoh pinjaman. Pengiktirafan pendapatan faedah daripada pinjaman-pinjaman yang dikelaskan tidak berbayar, digantung sehingga diperolehi secara tunai. Akaun pelanggan dikelaskan sebagai pinjaman tidak berbayar apabila tunggakan bayaran balik selama enam bulan atau lebih untuk pinjaman dan overdraf, dan selepas tiga bulan selepas tarikh kematangan bagi bil-bil perdagangan, penerimaan jurubank dan penerimaan amanah.

Polisi Kumpulan untuk peruntukan pinjaman dan pembiayaan yang dikelaskan sebagai tidak berbayar adalah menurut Garis Panduan Bank Negara Malaysia ‘Garis Panduan untuk Pengkelasan Bagi Pinjaman Tidak Berbayar dan Peruntukan untuk Hutang Sub-standard, Hutang Lapuk dan Hutang Ragu’.

(ii) Pendapatan dari Skim Perbankan Islam diiktirafkan atas dasar akruan dan mengikut hukum-hukum Syariah.

(iii) Yuran untuk menguruskan pinjaman dan komisyen diiktiraf sebagai pendapatan selepas syarat-syarat perkhidmatan itu dipenuhi.

(iv) Pengurusan portfolio, yuran komitmen, yuran jaminan dan yuran agensi dan komisyen diiktiraf sebagai pendapatan berdasarkan asas pembahagian waktu.

(v) Pendapatan pembrokeran diiktiraf selepas perlaksanaan kontrak. Pendapatan faedah, bayaran penanggungan dan pendapatan bayaran lain diiktiraf atas dasar akruan. Bagi siberhutang yang dikelaskan sebagai ragu atau lapuk, pendapatan faedah ini digantung mengikut Peraturan Bursa Saham Kuala Lumpur.

(vi) Dividen-dividen dari sekuriti dagangan diiktiraf apabila diterima sementara dividen-dividen daripada sekuriti pelaburan diiktiraf apabila diumumkan.

(vii) Dividen-dividen dari syarikat-syarikat subsidiari dan syarikat bersekutu diambilkira dalam penyata pendapatan apabila hak penerimaan dividen oleh pemegang saham dikenalpasti.

G PERUNTUKAN BAGI HUTANG LAPUK DAN RAGU DAN PEMBIAYAAN

Peruntukan khas dibuat bagi hutang ragu yang sudah disemak satu persatu dan dikenalpasti sebagai hutang lapuk, ragu atau substandard. Peruntukan am berdasarkan peratusan portfolio pinjaman dan pembiayaan juga dibuat untuk meliputi kemungkinan kerugian-kerugian yang tidak dikenalpasti.

42 RUMUSAN DASAR-DASAR PERAKAUNAN PENTING KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

G PERUNTUKAN BAGI HUTANG LAPUK DAN RAGU DAN PEMBIAYAAN (SAMBUNGAN)

Pinjaman dan pembiayaan yang tidak berjaya dikutip atau sebahagian pinjaman dan pembiayaan yang dikelaskan sebagai lapuk akan dilupuskan setelah mempertimbangkan nilai perolehan cagaran, jika ada, dimana menurut pertimbangan pihak pengurusan, tiada harapan lagi untuk dituntut semula.

Peruntukan hutang dan pembiayaan tidak berbayar Kumpulan adalah mematuhi keperluan minimum Garis Panduan Bank Negara Malaysia ‘Garis Panduan untuk Pengkelasan Bagi Pinjaman Tidak Berbayar dan Peruntukan untuk Hutang Sub-standard, Hutang Lapuk dan Hutang Ragu’ dan juga keperluan peruntukan hutang di dalam Peraturan Bursa Saham Kuala Lumpur.

H PERJANJIAN BELI BALIK

Sekuriti yang dibeli melalui perjanjian beli-balik adalah sekuriti yang dibeli dengan komitmen untuk dijual balik pada tarikh hadapan. Komitmen untuk menjual balik sekuriti tersebut dinyatakan sebagai aset dalam lembaran imbangan.

Sebaliknya, tanggungan untuk sekuriti yang dijual di bawah perjanjian beli balik adalah sekuriti yang dijual dengan komitmen untuk membeli balik sekuriti tersebut pada tarikh hadapan. Urus niaga pembiayaan sedemikian dan tanggungan berkaitan untuk membeli balik sekuriti tersebut dinyatakan sebagai liabiliti dalam lembaran imbangan.

I SEKURITI NIAGA

Sekuriti niaga adalah sekuriti pasaran yang dibeli dengan tujuan untuk dijual semula dalam jangka masa yang pendek dan dinyatakan pada kos atau nilai pasaran mengikut yang mana lebih rendah.

Pemindahan, jika ada, di antara sekuriti dagangan dan sekuriti pelaburan akan dilakukan pada kos atau nilai pasaran, mengikut yang mana lebih rendah.

J SEKURITI PELABURAN

Sekuriti pelaburan adalah sekuriti yang dibeli dan disimpan untuk hasilnya atau pertumbuhan modal atau untuk memenuhi aset mudah cair minimum yang diwajibkan di bawah seksyen 38 Akta Bank dan Institusi Kewangan, 1989, dan sekuriti ini disimpan sehingga tarikh matang.

Sekuriti Kerajaan Malaysia, Sijil Pelaburan Kerajaan Malaysia, Bon Cagamas, Sekuriti Kerajaan yang lain, sekuriti hutang swasta yang dijamin oleh Bank dan sekuriti hutang swasta yang dikecualikan oleh Bank Negara Malaysia yang disimpan untuk pelaburan adalah dinyatakan pada kos dan dilaraskan untuk pelunasan premium dan pertambahan diskaun sehingga tarikh matang. Sekuriti hutang swasta yang lain dinyatakan pada kos atau nilai pasaran mengikut yang mana lebih rendah. Sekuriti pelaburan yang lain dinyatakan pada kos dan peruntukan dibuat untuk penyusutan kekal nilainya jika diperlukan.

Pemindahan, jika ada, di antara sekuriti pelaburan dan sekuriti dagangan akan dilakukan pada kos atau nilai pasaran, mengikut yang mana lebih rendah.

43 RUMUSAN DASAR-DASAR PERAKAUNAN PENTING KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

K ASET TETAP DAN SUSUTNILAI

Aset tetap dinyatakan pada kos ditolak susutnilai terkumpul.

Tanah milik bebas dan pembinaan dalam perlaksanaan tidak dilunaskan. Tanah milik pajak dilunaskan berasaskan tempoh pajakan. Semua aset tetap yang lain disusutnilaikan berasaskan kaedah garis lurus dihitung untuk menghapuskira kos setiap aset tersebut dalam tempoh anggaran jangka hayat kegunaannya berdasarkan kadar-kadar tahunan seperti berikut:

Bangunan atas tanah milik bebas 2% Tanah dan bangunan milik pajakan Pelunasan dalam sepanjang tempoh pajakan Pengubahsuaian 10% - 20% atau sepanjang tempoh pajakan yang mana lebih tinggi Perabot dan peralatan 10% - 20% Peralatan dan perisian komputer 10% - 25% Kenderaan bermotor 20%

L ASET DIBELI DI BAWAH PAJAKAN

Pajakan kewangan

Aset di bawah pajakan yang memindah risiko-risiko dan manfaat-manfaat aset-aset tersebut kepada Kumpulan adalah diambil kira sebagai aset tetap. Aset-aset dan tanggungan- tanggungan pajakan adalah direkodkan pada nilai semasa bayaran minimum pajak atau nilai saksama aset pajakan pada permulaan pajakan yang mana lebih rendah. Aset-aset pajakan ini adalah disusutnilaikan sama seperti aset-aset lain yang dimiliki yang susutnilaikan.

Pajakan operasi

Pajakan yang mana risiko-risiko dan manfaat-manfaat aset-aset terus dimiliki oleh sipemajak adalah dikelaskan sebagai pajakan operasi. Bayaran bagi sewa pajakan dicajkan ke penyata pendapatan.

Apabila pajakan operasi dibatalkan sebelum tamat tempoh pajakan, sebarang bayaran yang harus dibuat kepada sipemajak sebagai penalti adalah diambilkira di dalam penyata pendapatan sebagai perbelanjaan di dalam tempoh di mana pembatalan berlaku.

M ASET DIJUAL DI BAWAH PAJAKAN

Pajakan kewangan

Apabila aset dijual di bawah pajakan kewangan, nilai semasa pembayaran pajakan dianggap sebagai penghutang. Perbezaan di antara nilai penghutang kasar dan nilai semasa penghutang akan dianggap sebagai pendapatan belum diperolehi. Pendapatan pajakan akan diambilkira dalam penyata pendapatan di sepanjang tempoh pajakan dengan menggunakan kaedah ‘sum of digits’.

N CUKAI TERTUNDA

Peruntukan untuk cukai tertunda dibuat mengikut kaedah ‘liabiliti’ bagi semua perbezaan masa ketara antara keuntungan perakaunan dan keuntungan boleh dicukai, kecuali bagi perbezaan yang dianggap akan berterusan pada masa hadapan.

44 RUMUSAN DASAR-DASAR PERAKAUNAN PENTING KUMPULAN (SAMBUNGAN) BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2000

O PERTUKARAN MATAWANG

Aset dan liabiliti dalam matawang asing telah dinyatakan dalam lembaran imbangan mengikut kadar yang hampir dengan kadar pertukaran pada tarikh lembaran imbangan. Urusniaga matawang asing sepanjang tahun telah ditukarkan kepada Ringgit Malaysia pada kadar pertukaran yang berkuatkuasa pada tarikh terlaksananya urusniaga itu. Keuntungan dan kerugian pertukaran akan diiktiraf dalam tahun ia muncul.

Kadar purata penukaran matawang yang digunakan dihujung tahun adalah seperti berikut:-

Matawang asing 2000 1999 RM RM

1 US Dollar 3.80 3.80 1 Great Britain Pound 5.70 6.20

P KONTRAK PERTUKARAN HADAPAN

Kontrak pertukaran hadapan yang belum matang pada tarikh lembaran imbangan akan dinilai berdasarkan kadar pertukaran hadapan mengikut tarikh kematangan masing-masing. Keuntungan dan kerugian belum terhasil akan diiktiraf di dalam penyata pendapatan tahun kewangan ia muncul.

Q FAEDAH PERSARAAN KAKITANGAN

Bank komersial dan subsidiari-subsidiarinya menyumbang kepada sebuah skim faedah persaraan bagi eksekutif kanan, eksekutif dan setiausaha sulit berdasarkan pelan takrif faedah. Aset-aset skim dipegang secara berasingan di dalam sebuah tabung yang ditadbir secara bebas. Sumbangan kepada skim tersebut adalah dicajkan kepada penyata pendapatan untuk menyebarkan kos skim sepanjang jangkamasa perkhidmatan kakitangan dalam kumpulan Bank komersial itu. Sumbangan-sumbangan adalah ditentukan oleh aktuari luar berdasarkan penilaian tiga (3) tahun sekali menggunakan kaedah faedah terakru.

Peruntukan untuk faedah persaraan telah dibuat oleh sebuah syarikat kewangan dalam kumpulan ini untuk kakitangannya yang berkelayakan dan telah berkhidmat dengan kumpulan sekurang-kurangnya sepuluh (10) tahun berasaskan ganjaran dan tempoh perkhidmatan mereka.

R BIL DAN PENERIMAAN JURUBANK

Bil dan penerimaan jurubank merupakan bil dan penerimaan jurubank yang telah dijual dalam pasaran pada harga diskaun dan masih belum matang lagi.

S PERBELANJAAN TERTUNGGAK

Perbelanjaan tertunggak terdiri daripada perbelanjaan terbitan bon yang akan dilunaskan setiap tahun kepada penyata pendapatan di sepanjang hayat bon tersebut. Pada tahun-tahun sebelumnya, perbelanjaan tertunggak mempunyai perbelanjaan permulaan dan perbelanjaan pre-operasi yang dilunaskan sepanjang tempoh lima tahun. Perbelanjaan tertunggak ini telah dihapuskira dalam tahun semasa.

T AMAUN BERPULANGAN DARIPADA DANAHARTA

Jumlah penerimaan daripada pinjaman yang dijual kepada Pengurusan Danaharta Nasional Berhad (‘Danaharta’) diterima dalam dua bahagian, iaitu pada masa jualan pinjaman (‘penerimaan awal’) dan pada masa pinjaman dibayar semula (‘penerimaan akhir’). Penerimaan akhir adalah merupakan agihan kepada Bank yang telah ditetapkan dan bergantung pada lebihan antara penerimaan awal dan bayaran semula pinjaman.

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T AMAUN BERPULANGAN DARIPADA DANAHARTA (SAMBUNGAN)

Perbezaan di antara nilai pinjaman dan penerimaan awal dikenali sebagai ‘Jumlah Berpulangan daripada Danaharta’ dalam komponen ‘Aset lain’. Peruntukan untuk jumlah ini adalah mengikut Garis Panduan Bank Negara Malaysia untuk ‘Jualan Pinjaman Tidak Berbayar kepada Danaharta’ yang dikeluarkan pada 30 April 1999 dan mencerminkan penilaian para pengarah pada tarikh lembaran imbangan bagi nilai penerimaan akhir itu.

U ALATAN KEWANGAN DERIVATIF

Transaksi untuk alatan kewangan derivatif yang dikendalikan termasuk pertukaran kadar faedah, pasaran hadapan dan lain-lain alatan seperti itu bagi tujuan urusniaga dan bukan urusniaga. Derivatif yang diklasifikasikan sebagai bukan urusniaga dipegang untuk tujuan membentengi pendedahan yang melibatkan aset-aset dan liabiliti-liabiliti bank komersial sebuah syarikat subsidiari.

Perolehan dan kerugian akibat transaksi-transaksi pembentengan khusus dilepaskan ke penyata pendapatan dalam tempoh di mana pendapatan dan perbelanjaan dijana oleh transaksi-transaksi yang berkaitan. Transaksi yang pada mulanya dimasuki sebagai pembentengan tetapi tidak lagi menggambarkan pembentengan, nilainya dinyatakan semula dan perubahan dalam nilainya akan diambil kira ke dalam penyata pendapatan.

Perolehan dan kerugian dari alatan yang dibeli atau dijual untuk tujuan urusniaga dibawa ke penyata pendapatan. Transaksi-transaksi yang masih berada pada tarikh lembaran imbangan akan dinyatakan pada nilai pasaran.

V TUNAI DAN SETARA TUNAI

Tunai dan setara tunai terdiri daripada tunai dan deposit jangka pendek yang sedia ditukar ke amaun tunai yang pasti dan tidak terdedah kepada risiko penukaran nilai yang ketara.

46 NOTA-NOTA KEPADA PENYATA KEWANGAN 31 DISEMBER 2000

1 MAKLUMAT AM

Jumlah pekerja pada akhir tahun adalah 4,935 (1999: 4,591) pekerja di dalam Kumpulan dan 3 (1999: 3) pekerja di dalam Syarikat.

Para Pengarah menganggap Lembaga Tabung Angkatan Tentera, sebuah badan korporat yang ditubuhkan di bawah Akta Tabung Angkatan Tentera, 1973, sebagai badan korporat pemegang induk dan pemegang muktamad Syarikat.

Syarikat adalah sebuah syarikat awam liabiliti terhad yang ditubuhkan dan bermastautin di Malaysia, dan disenarai di Papan Utama Bursa Saham Kuala Lumpur.

2 TUNAI DAN DANA JANGKA PENDEK

KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Tunai dan baki di bank-bank dan institusi-institusi kewangan 281,503 615,459 90 64 Wang panggilan dan penempatan deposit matang dalam tempoh sebulan 1,809,657 1,521,659 330,409 16,904

2,091,160 2,137,118 330,499 16,968

Terkandung dalam tunai dan baki bank-bank Kumpulan adalah akaun-akaun amanah yang ditanggung oleh sebuah syarikat subsidiari untuk pelanggan dan remiser berjumlah RM987,859 (1999: RM2,137,321).

3 DEPOSIT DAN PENEMPATAN DENGAN INSTITUSI-INSTITUSI KEWANGAN

KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Deposit dengan bank berlesen 246,948 172,859 – – Deposit dengan institusi kewangan berlesen 342,998 140,807 30,249 – Institusi-institusi kewangan yang lain 301,097 387,046 – 3,272

891,043 700,712 30,249 3,272

Terkandung dalam deposit dan penempatan dengan institusi-institusi kewangan Kumpulan adalah amaun amanah yang ditanggung oleh sebuah syarikat subsidiari untuk pelanggan dan remiser berjumlah RM9,714,891 (1999: RM21,529,052).

47 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

4 SEKURITI DAGANGAN KUMPULAN 2000 1999 RM’000 RM’000 Instrumen pasaran wang:

Disebutharga

Sekuriti Kerajaan Malaysia 38,960 196,361 Sekuriti hutang swasta 3,775 3,775

Tidak disebutharga

Bon Danamodal 17,391 131,541 Penerimaan jurubank – 32,180

60,126 363,857 Sekuriti disebutharga:

Di Malaysia

Saham 701 295 Amanah Saham 1,294 –

Sekuriti tidak disebutharga:

Di Malaysia

Sekuriti hutang swasta 945 945

Jumlah sekuriti dagangan 63,066 365,097

Nilai pasaran instrumen pasaran wang disebutharga dan sekuriti disebutharga:

Sekuriti Kerajaan Malaysia 39,127 198,732 Sekuriti hutang swasta 4,475 4,400 Saham disebutharga di Malaysia 730 305 Amanah saham 1,225 –

48 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

5 SEKURITI PELABURAN KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Instrumen pasaran wang:

Disebutharga

Sekuriti Kerajaan Malaysia 482,086 778,456 – – Sijil Pelaburan Kerajaan Malaysia 885,687 213,700 – – Bon Cagamas 444,903 326,423 – – Bon Cagamas Mudharabah – 2,000 – –

Tidak disebutharga

Bil Bendahari Kerajaan Malaysia 49,654 – – – Bil–bil Bank Negara Malaysia 299,335 – – – Nota–nota Cagamas – 84,417 – – Sijil deposit boleh niaga 377,000 420,000 – – Sekuriti hutang swasta 113,547 69,561 – – Penerimaan jurubank 34,408 139,298 – – Bon Khazanah – 7,837 – – Sekuriti skim perbankan tanpa faedah - Sijil hutang boleh niaga Islam 97,515 19,850 – – - Penerimaan jurubank 670,505 652,801 – – - Dana modal – 14,907 – – - Sekuriti hutang swasta 226,655 163,245 – – - Bon Khazanah – 15,395 – – - Nota–nota Korporat Islam 50,000 12,259 – – Bon Danamodal 251,298 – – – Bon Danaharta 320,916 288,577 – –

4,303,509 3,208,726 – – Sekuriti disebutharga:

Di Malaysia:

Saham 42,758 10,355 – – Sekuriti hutang swasta 62,263 34,738 – – Stok pinjaman 90,861 – – –

Sekuriti tidak disebutharga:

Di Malaysia:

Saham 55,460 53,272 – – Sekuriti hutang swasta 1,491,036 1,428,027 – 3,995

Di luar Malaysia:

Sekuriti hutang swasta 41,800 11,400 – –

6,087,687 4,746,518 – 3,995

49 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

5 SEKURITI PELABURAN (SAMBUNGAN) KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Penambahan diskaun (tolak pelunasan premium) ke atas sekuriti dan bon 75,185 45,972 – 5 Penambahan diskaun (tolak pelunasan premium) ke atas sekuriti Islam 4,969 1,690 – –

Jumlah kecil 6,167,841 4,794,180 – 4,000

Ditolak:

Peruntukan bagi penyusutan nilai sekuriti hutang swasta (144,363) (32,465) – – Peruntukan bagi pengurangan nilai sekuriti tidak disebutharga (9,869) (2,572) – –

Jumlah sekuriti pelaburan 6,013,609 4,759,143 – 4,000

Nilai pasaran instrumen pasaran wang disebutharga dan sekuriti disebutharga:

Sekuriti Kerajaan Malaysia 489,441 784,085 – – Sijil Pelaburan Kerajaan Malaysia 893,135 218,914 – – Bon Cagamas 448,376 329,320 – – Bon Cagamas Mudharabah – 2,000 – – Saham disebutharga di Malaysia 30,621 7,252 – – Sekuriti hutang swasta di Malaysia 121,620 28,867 – – Stok pinjaman 90,861 – – –

KUMPULAN 2000 1999 RM’000 RM’000 Struktur kematangan instrumen pasaran wang dipegang bagi tujuan pelaburan adalah seperti berikut:

Matang dalam tempoh setahun 2,935,190 1,489,060 Satu hingga tiga tahun 734,287 683,151 Tiga hingga lima tahun 553,617 697,230 Melebihi lima tahun 80,415 339,285

4,303,509 3,208,726

50 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

6 PINJAMAN, PENDAHULUAN AND PEMBIAYAAN KUMPULAN 2000 1999 RM’000 RM’000

Overdraf 2,220,687 2,093,697 Pinjaman berjangka 6,798,007 6,478,952 Kredit pusingan 1,414,666 1,455,725 Bil boleh diterima 104,167 507,574 Penerimaan amanah 366,203 321,267 Sewa beli 3,398,661 2,908,277 Sewapajak akan diterima 20,319 28,629 Blok diskaun 21,720 43,798 Pinjaman perumahan 116,344 1,310,808 Pinjaman kakitangan (yang mana tiada kepada Pengarah) 137,562 136,315 Tuntutan ke atas pelanggan di bawah kredit penerimaan 969,849 925,173 Sistem perbankan tanpa faedah 138,022 119,798

15,706,207 16,330,013 Faedah belum diperolehi (671,566) (502,097)

Pinjaman, pendahuluan dan pembiayaan kasar 15,034,641 15,827,916

Peruntukan untuk hutang tidak berbayar dan pembiayaan: - Khas (610,354) (698,775) - Am (306,761) (240,536) Faedah/pendapatan tergantung (459,533) (482,527)

(1,376,648) (1,421,838)

Jumlah bersih pinjaman, pendahuluan dan pembiayaan 13,657,993 14,406,078

(i) Struktur kematangan pinjaman, pendahuluan dan pembiayaan adalah seperti berikut:

Matang dalam tempoh satu tahun 5,380,324 5,354,960 Satu hingga tiga tahun 6,511,516 6,637,434 Tiga hingga lima tahun 1,215,121 1,683,031 Melebihi lima tahun 1,927,680 2,152,491

15,034,641 15,827,916

51 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

6 PINJAMAN, PENDAHULUAN AND PEMBIAYAAN (SAMBUNGAN)

(ii) Pinjaman, pendahuluan dan pembiayaan dianalisa mengikut sektor ekonomi adalah seperti berikut:

KUMPULAN 2000 1999 RM’000 RM’000

Pertanian 222,843 374,511 Perlombongan dan kuari 88,373 26,054 Pengilangan 1,990,898 2,479,342 Elektrik, gas dan air 176,222 340,242 Pembinaan 2,066,868 1,847,741 Hartanah 725,173 537,133 Pembelian harta bertanah: - Perumahan 956,803 995,802 - Bukan perumahan 1,083,857 1,407,771 Perniagaan am 1,413,406 1,221,993 Pengangkutan, pergudangan dan komunikasi 985,919 1,118,465 Pembiayaan, insurans dan perkhidmatan perniagaan 836,688 1,240,373 Pembelian sekuriti 908,950 1,153,157 Pembelian kenderaan pengangkutan 2,173,358 1,683,961 Kredit penggunaan 574,205 477,160 Lain-lain 831,078 924,211

15,034,641 15,827,916

(iii) Perubahan dalam pinjaman dan pembiayaan tidak berbayar (termasuk faedah dan pendapatan yang akan diterima) adalah seperti berikut: KUMPULAN 2000 1999 RM’000 RM’000

Baki pada 1 Januari 3,202,341 2,455,380 Terhasil daripada pemerolehan syarikat subsidiari – 447,622 Pelupusan syarikat subsidiari – (9,226) Pinjaman tidak berbayar pada tahun kewangan (kasar) 1,872,712 1,988,620 Jumlah dijual kepada Danaharta (55,044) (458,060) Hutang lapuk terpulih (514,180) (778,261) Jumlah dihapuskira (650,921) (443,734) Pengkelasan semula sebagai pinjaman berbayar (1,042,914) – Pindahan berkenaan penukaran hutang (231,939) –

Pinjaman tidak berbayar kasar 2,580,055 3,202,341 Peruntukan khas dan faedah tergantung (1,034,747) (1,181,302)

Pinjaman tidak berbayar bersih pada 31 Disember 1,545,308 2,021,039

(% di atas jumlah pinjaman, pendahuluan dan pembiayaan bersih) 10.66 13.32

52 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

6 PINJAMAN, PENDAHULUAN AND PEMBIAYAAN (SAMBUNGAN)

(iv) Perubahan dalam peruntukan bagi hutang lapuk dan ragu dan faedah/pendapatan tergantung adalah seperti berikut: KUMPULAN 2000 1999 RM’000 RM’000

Peruntukan khas

Baki pada 1 Januari 698,775 764,030 Terhasil daripada pemerolehan syarikat subsidiari – 173,842 Pelupusan syarikat subsidiari – (4,480) Peruntukan pada tahun kewangan 506,859 414,556 Jumlah dijual kepada Danaharta (76) (122,975) Peruntukan terpulih (79,975) (207,228) Jumlah dihapuskira (489,609) (318,970) Jumlah dihapuskira berkenaan penukaran hutang (25,620) –

Baki pada 31 Disember 610,354 698,775

Peruntukan am

Baki pada 1 Januari 240,536 218,469 Terhasil daripada pemerolehan syarikat subsidiari – 34,145 Pelupusan syarikat subsidiari – (641) Peruntukan pada tahun kewangan 72,772 – Peruntukan terpulih pada tahun kewangan (6,547) (11,437)

Baki pada 31 Disember 306,761 240,536

(% di atas jumlah pinjaman ditolak peruntukan khas dan faedah/pendapatan tergantung) 2.12 1.59

Faedah/pendapatan tergantung

Baki pada 1 Januari 482,527 274,293 Terhasil daripada pemerolehan syarikat subsidiari – 77,807 Pelupusan syarikat subsidiari – (1,461) Peruntukan pada tahun kewangan 389,062 394,687 Jumlah dijual kepada Danaharta (5,124) (51,062) Peruntukan terpulih (188,360) (111,909) Jumlah dihapuskira (158,653) (99,828) Pindahan berkenaan penukaran hutang (59,919) –

Baki pada 31 Disember 459,533 482,527

53 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

7 DEPOSIT BERKANUN DENGAN BANK NEGARA MALAYSIA

Deposit berkanun tanpa faedah adalah berkaitan dengan syarikat subsidiari perbankan dan syarikat subsidiari kewangan dan disimpan di Bank Negara Malaysia bagi mematuhi Seksyen 37(1)(c) Akta Bank Pusat Malaysia 1958 (disemak - 1994), yang jumlahnya ditetapkan sebagai suatu peratusan tertentu daripada liabiliti berkelayakan.

8 SYARIKAT-SYARIKAT SUBSIDIARI SYARIKAT 2000 1999 RM’000 RM’000

Saham-saham tidak disebutharga di Malaysia pada kos 1,889,434 1,804,351 Jumlah terhutang daripada syarikat-syarikat subsidiari: - Stok Pinjaman Tidak Boleh Ditebus, Boleh Ditukar dan Tidak Bercagar 200,000 200,000 - Dividen akan diterima 28,600 47,661 - Pendahuluan kepada syarikat subsidiari 18,425 2,750 - Lain-lain amaun yang akan diterima 5,141 280

2,141,600 2,055,042

Pendahuluan kepada syarikat subsidiari adalah tanpa cagaran, tanpa faedah dan tiada tempoh pembayaran yang tetap.

Termasuk dalam amaun terhutang daripada syarikat-syarikat subsidiari adalah ‘Stok Pinjaman Tidak Boleh Ditebus, Boleh Ditukar dan Tidak Bercagar’ (‘ICULS’) berjumlah RM200 juta berdasarkan RM25.00 harga nominal bagi dua belas saham biasa RM1.00 sesaham yang dipegang dalam satu syarikat subsidiari. ICULS ini menanggung faedah pada kadar 7% mesti dibayar tahunan yang ditunggakkan pada 21 September setiap tahun. ICULS ini akan matang dalam lima tahun dari tarikh terbitan dan boleh ditukar kepada saham biasa RM1.00 sesaham pada sebarang masa selepas tarikh terbitan, pada harga tukaran RM1.20. Saham biasa baru yang diterbitkan di atas penukaran ICULS akan bertaraf pari passu bersamaan dengan saham biasa syarikat subsidiari yang telah ada.

Syarikat-syarikat subsidiari yang diperbadankan di Malaysia ialah:

Saham yang diterbitkan dan dibayar Peratusan ekuiti Nama Kegiatan utama sepenuhnya dipegang RM’000 2000 1999 %%

Affin Bank Berhad Perkhidmatan bank komersial 650,000 100 100 (dahulunya dikenali sebagai Perwira Affin Bank Berhad)

PAB Properties Sdn Bhd Perkhidmatan pengurusan 8,000 100 100 hartanah

PAB Nominee (Tempatan) Perkhidmatan nominee, penjagaan 40 100 100 Sdn Bhd dan pendaftaran saham

PAB Property Development Syarikat dorman 250 100 100 Sdn Bhd 54 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

8 SYARIKAT-SYARIKAT SUBSIDIARI (SAMBUNGAN) Saham yang diterbitkan dan dibayar Peratusan ekuiti Nama Kegiatan utama sepenuhnya dipegang RM’000 2000 1999 %%

PAB Property Management Syarikat dorman 30 100 100 Services Sdn Bhd

PAB Trustee Berhad Perkhidmatan pengurusan 500 100 100 amanah

PAB Venture Capital Sdn Bhd Syarikat dorman – 100 100

Affin Futures Sdn Bhd Broker pasaran hadapan dan 10,000 100 100 opsyen

PAB Property Trust Syarikat dorman – 100 100 Management Berhad

PAB Nominee (Asing) Syarikat dorman – 100 100 Sdn Bhd

Affin Corporate Services Syarikat dorman – 100 100 Sdn Bhd

Affin Discount Berhad* Rumah diskaun 70,000 100 100

Affin Moneybrokers Sdn Bhd* Broker kewangan 200 100 100

Affin - UOB Holdings Pegangan pelaburan 100,000 55 55 Sdn Bhd

Affin - UOB Securities Pembrokeran saham 100,000 55 55 Sdn Bhd

Affin - UOB Nominees Perkhidmatan nominee, penjagaan – 55 55 (Tempatan) Sdn Bhd dan pendaftaran saham bagi pelabur tempatan

Affin - UOB Nominees Perkhidmatan nominee, penjagaan – 55 55 (Asing) Sdn Bhd dan pendaftaran saham bagi pelabur asing

Indolight Sdn Bhd Syarikat dorman – 100 100

Affin Fund Management Pengendalian aset 12,000 100 100 Sdn Bhd

55 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

8 SYARIKAT-SYARIKAT SUBSIDIARI (SAMBUNGAN) Saham yang diterbitkan dan dibayar Peratusan ekuiti Nama Kegiatan utama sepenuhnya dipegang RM’000 2000 1999 %%

PAB Unit Trust Pengurusan unit amanah 5,000 100 100 Management Berhad

Affin Merchant Bank saudagar 187,500 63.16 63.16 Bank Berhad (dahulu dikenali sebagai Perwira Affin Merchant Bank Berhad)

Merchant Nominees Syarikat dorman – 63.16 63.16 (Asing) Sdn Bhd

Merchant Nominees Perkhidmatan nominee, 10 63.16 63.16 (Tempatan) Sdn Bhd penjagaan dan pendaftaran saham

ACF Holdings Berhad* Pegangan pelaburan 269,308 78.05 54.5

Affin-ACF Finance Berhad Syarikat kewangan berlesen 285,154 78.05 54.5 (dahulu dikenali sebagai Asia Commercial Finance (M) Berhad)*

Lion Nominees (Tempatan) Perkhidmatan nominee, 25 78.05 54.5 Sdn Bhd* penjagaan dan pendaftaran saham

LCB Insurance Brokers Broker insuran 1,000 78.05 54.5 Sdn Bhd*

Lion Leasing Sdn Bhd* Pajakan dan sewa beli 6,000 78.05 54.5 pembiayaan dan perkhidmatan pemfaktoran

Affin.com Sdn Bhd* Syarikat dorman 96,000 78.05 54.5 (dahulu dikenali sebagai Affin Finance Berhad)

* Syarikat-syarikat subsidiari yang tidak diaudit oleh PricewaterhouseCoopers.

56 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

9 SYARIKAT BERSEKUTU KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Saham-saham tidak disebutharga pada kos 6,597 6,597 6,597 6,597 Bahagian keuntungan bersih selepas pengambilalihan syarikat bersekutu 30,966 32,880 – –

37,563 39,477 6,597 6,597 Jumlah terhutang oleh syarikat bersekutu – 3,600 – 3,600

37,563 43,077 6,597 10,197

KUMPULAN 2000 1999 RM’000 RM’000

Bahagian nilai aset ketara bersih terkumpul Kumpulan 38,089 40,003 Diskaun atas pengambilalihan (526) (526)

37,563 39,477

Kepentingan ekuiti di dalam syarikat bersekutu AXA Affin Assurance Berhad (dahulunya dikenali sebagai Guardian Royal Exchange Assurance (M) Berhad), sebuah syarikat yang diperbadankan di Malaysia ialah 40% (1999: 40%). Kegiatan utama syarikat bersekutu ini ialah perniagaan penanggungan semua kelas insurans am.

10 PENGHUTANG DAGANGAN

Sejumlah besar penghutang dagangan berpunca daripada syarikat subsidiari pembrokeran saham dan terdiri daripada jumlah yang belum dibayar untuk kontrak pembelian ditolak peruntukan untuk hutang ragu sebanyak RM900,000 (1999: RM77,000) dan faedah tergantung sebanyak RM40,000 (1999: RM5,000).

11 ASET LAIN KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Faedah akan diterima 40,286 45,374 911 23 Penghutang lain, deposit dan bayaran terdahulu 165,698 252,759 1,453 1,463 Amaun berpulangan daripada Danaharta 78,676 102,325 – –

284,660 400,458 2,364 1,486

57 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

11 ASET LAIN (SAMBUNGAN) KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Amaun berpulangan daripada Danaharta:

Baki pada 1 Januari 102,325 65,929 – – Jumlah yang timbul dalam tahun kewangan 7,547 66,097 – – Peruntukan dibuat dalam tahun kewangan (31,196) (29,701) – –

Baki pada 31 Disember 78,676 102,325 – –

12 FAEDAH CUKAI TERTUNDA KUMPULAN 2000 1999 RM’000 RM’000

Baki pada 1 Januari 1,460 9,800 Terhasil daripada pemerolehan syarikat subsidiari – 1,460 Dihapuskira ke penyata pendapatan (Nota 31) (1,460) (9,800)

Baki pada 31 Disember – 1,460

58 13 ASET TETAP Tanah dan bangunan milik pajakan Peralatan Bangunan Kurang dan Pembinaan Tanah milik atas tanah daripada 50 tahun Pengubah- Perabot dan perisian Kenderaan dalam bebas milik bebas 50 tahun atau lebih suaian peralatan komputer bermotor perlaksanaan Jumlah KUMPULAN RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

2000

Kos

Pada 1 Januari 25,197 70,131 7,585 46,484 42,482 61,759 129,514 20,621 67,309 471,082

- Pembelian – – – – 11,428 17,151 16,684 3,937 20,774 69,974 - Jualan – – – – (109) (48) (375) (847) – (1,379) - Dilupuskan – – – – (1,368) (336) (8) (63) – (1,775) - Pengelasan semula (2,715) (7,825) (14) (8,290) 32,958 (4,390) 51 4 (9,779) –

Pada 31 Disember 22,482 62,306 7,571 38,194 85,391 74,136 145,866 23,652 78,304 537,902

Susutnilai

Pada 1 Januari – 6,118 2,173 3,309 32,655 35,904 53,117 14,279 – 147,555

- Susutnilai untuk tahun kewangan – 1,301 61 776 17,259 4,834 28,616 4,120 – 56,967 - Jualan – – – – (46) (43) (95) (814) – (998) - Dilupuskan – – – – (1,363) (277) (8) (50) – (1,698) - Pengelasan semula – (899) – (600) 4,074 (2,622) 47 – – –

Pada 31 Disember – 6,520 2,234 3,485 52,579 37,796 81,677 17,535 – 201,826

Nilai buku bersih

Pada 31 Disember 2000 22,482 55,786 5,337 34,709 32,812 36,340 64,189 6,117 78,304 336,076

page 59 13 ASET TETAP (SAMBUNGAN) Tanah dan bangunan milik pajakan Peralatan Bangunan Kurang dan Pembinaan Tanah milik atas tanah daripada 50 tahun Pengubah- Perabot dan perisian Kenderaan dalam bebas milik bebas 50 tahun atau lebih suaian peralatan komputer bermotor perlaksanaan Jumlah KUMPULAN RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

1999

Kos

Pada 1 Januari 21,137 64,643 5,758 39,973 30,334 45,061 57,371 14,541 26,948 305,766

- Syarikat-syarikat subsidiari baru 1,345 1,680 970 2,848 11,664 12,661 18,123 5,955 2,249 57,495 - Pembelian 2,715 5,103 – 3,225 484 4,860 54,399 565 38,112 109,463 - Jualan – – – – – (316) (374) (430) – (1,120) - Dilupuskan – – – – – (512) – (10) – (522) - Pengelasan semula – (1,295) 857 438 – 5 (5) – – –

Pada 31 Disember 25,197 70,131 7,585 46,484 42,482 61,759 129,514 20,621 67,309 471,082

page 60 13 ASET TETAP (SAMBUNGAN) Tanah dan bangunan milik pajakan Peralatan Bangunan Kurang dan Pembinaan Tanah milik atas tanah daripada 50 tahun Pengubah- Perabot dan perisian Kenderaan dalam bebas milik bebas 50 tahun atau lebih suaian peralatan komputer bermotor perlaksanaan Jumlah KUMPULAN RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

1999

Susutnilai

Pada 1 Januari – 4,767 947 2,549 21,636 23,407 26,612 7,958 – 87,876

- Syarikat-syarikat – 351 196 443 7,911 8,239 6,488 3,828 – 27,456 subsidiari baru - Susutnilai untuk tahun kewangan – 1,378 897 72 3,108 5,029 20,344 2,755 – 33,583 - Jualan – – – – – (269) (326) (256) – (851) - Dilupuskan – – – – – (503) – (6) – (509) - Pengelasan semula – (378) 133 245 – 1 (1) – – –

Pada 31 Disember – 6,118 2,173 3,309 32,655 35,904 53,117 14,279 – 147,555

Nilai buku bersih

Pada 31 Disember 1999 25,197 64,013 5,412 43,175 9,827 25,855 76,397 6,342 67,309 323,527

page 61 13 ASET TETAP (SAMBUNGAN) Tanah dan bangunan milik pajakan Peralatan Bangunan Kurang dan Pembinaan Tanah milik atas tanah daripada 50 tahun Pengubah- Perabot dan perisian Kenderaan dalam bebas milik bebas 50 tahun atau lebih suaian peralatan komputer bermotor perlaksanaan Jumlah SYARIKAT RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

2000

Kos

Pada 1 Januari – – – – – – 7 – – 7 - Pembelian – – – – – – – – – –

Pada 31 Disember – – – – – – 7 – – 7

Susutnilai

Pada 1 Januari – – – – – – 2 – – 2 - Susutnilai untuk tahun kewangan – – – – – – 2 – – 2

Pada 31 Disember – – – – – – 4 – – 4

Nilai buku bersih

Pada 31 Disember 2000 – – – – – – 3 – – 3

page 62 13 ASET TETAP (SAMBUNGAN) Tanah dan bangunan milik pajakan Peralatan Bangunan Kurang dan Pembinaan Tanah milik atas tanah daripada 50 tahun Pengubah- Perabot dan perisian Kenderaan dalam bebas milik bebas 50 tahun atau lebih suaian peralatan komputer bermotor perlaksanaan Jumlah SYARIKAT RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

1999

Kos

Pada 1 Januari – – – – – – 4 – – 4 - Pembelian – – – – – – 3 – – 3

Pada 31 Disember – – – – – – 7 – – 7

Susutnilai

Pada 1 Januari – – – – – – 1 – – 1 - Susutnilai untuk tahun kewangan – – – – – – 1 – – 1

Pada 31 Disember – – – – – – 2 – – 2

Nilai buku bersih

Pada 31 Disember 1999 – – – – – – 5 – – 5

page 63 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

14 DEPOSIT DARIPADA PELANGGAN KUMPULAN 2000 1999 RM’000 RM’000

Deposit semasa 1,845,439 1,438,221 Deposit simpanan 1,517,888 1,296,311 Deposit tetap 11,960,222 12,096,001 Sijil deposit bolehniaga 427,899 1,070,000 Skim Perbankan Islam - Al-Mudharabah - deposit tetap 153,341 157,167 - Al-Wadiah - deposit simpanan 37 90

15,904,826 16,057,790

Struktur kematangan deposit tetap dan sijil deposit bolehniaga adalah seperti berikut:

Matang dalam tempoh enam bulan 11,526,745 12,295,161 Enam bulan hingga satu tahun 409,799 697,002 Satu hingga tiga tahun 601,098 317,924 Tiga hingga lima tahun 3,820 13,081

12,541,462 13,323,168

Deposit diperoleh daripada pelanggan-pelanggan berikut:

Perusahaan perniagaan 5,757,525 7,165,983 Individu 6,241,175 4,155,946 Lain-lain 3,906,126 4,735,861

15,904,826 16,057,790

15 DEPOSIT DAN PENEMPATAN DARIPADA BANK-BANK DAN INSTITUSI-INSTITUSI KEWANGAN LAIN

KUMPULAN 2000 1999 RM’000 RM’000

Bank berlesen 1,167,783 816,518 Syarikat kewangan berlesen 158,986 440,111 Institusi-institusi kewangan lain 2,331,734 2,309,674

3,658,503 3,566,303

16 PEMIUTANG DAGANGAN

Sejumlah besar pemiutang dagangan berpunca daripada syarikat subsidiari pembrokeran saham dan terdiri daripada jumlah yang perlu dibayar untuk kontrak penjualan.

64 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

17 LIABILITI-LIABILITI LAIN KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Dividen disyorkan 6,643 4,139 6,643 4,139 Zakat 636 501 – – Faedah boleh dibayar 143,383 144,716 – – Pemiutang-pemiutang lain dan akruan 417,459 352,495 4,592 12,782

568,121 501,851 11,235 16,921

Termasuk dalam pemiutang-pemiutang lain dan akruan bagi Kumpulan adalah akaun amanah yang diselanggarakan oleh syarikat subsidiari untuk pelanggan-pelanggan dan remiser berjumlah RM4,423,859 (1999: RM20,690,393) dan RM6,278,891 (1999: RM2,975,979) masing-masing.

18 CUKAI TERTUNDA KUMPULAN 2000 1999 RM’000 RM’000

Baki pada 1 Januari 12,421 4,051 Dipindah dari penyata pendapatan (Nota 31) – 8,370

Baki pada 31 Disember 12,421 12,421

Tiada perbezaan masa yang ketara, yang mana cukai tertunda belum diperuntukkan dalam penyata kewangan.

19 PINJAMAN JANGKA PENDEK KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Kredit pusingan 50,000 476,900 – 426,900 Pendahuluan jangka pendek – 73,190 – 73,190 Overdraf bank 651 – – –

50,651 550,090 – 500,090

Pinjaman jangka pendek tanpa cagaran bagi Kumpulan dan Syarikat adalah pada kadar faedah dalam lingkungan 7.1% ke 7.7% (1999: 4.7% ke 11.4%) setahun.

65 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

20 LIABILITI JANGKA PANJANG KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Pembiayaan bon:

2% bon pinjaman dijamin oleh bank dan boleh ditebus 178,526 178,526 178,526 178,526 Waran yang boleh cerai 61,474 61,474 61,474 61,474 4% bon pinjaman dijamin oleh bank dan boleh ditebus – 206,727 – 206,727 Waran yang boleh cerai – 48,273 – 48,273 Pendahuluan daripada pemegang saham syarikat subsidiari 15,075 2,250 – – Pinjaman jangka panjang 430,000 – 430,000 –

685,075 497,250 670,000 495,000

Pembiayaan bon

Pada tahun kewangan berakhir 31 Disember 1995, Syarikat telah menerbitkan RM255,000,000 jumlah nominal 4% 5-tahun bon pinjaman terjamin oleh bank yang boleh ditebus berserta 102,056,445 unit waran boleh cerai kepada pemegang utama berasaskan urusan belian. Pada tahun kewangan berakhir 31 Disember 1997, Syarikat telah menerbitkan RM240,000,000 jumlah nominal 2% 5-tahun bon pinjaman terjamin oleh bank yang boleh ditebus berserta 54,403,401 unit waran boleh cerai kepada pemegang utama berasaskan urusan belian.

Bon 2% 5-tahun tersebut ditadbirkan melalui Surat Ikatan Amanah bertarikh 17 Oktober 1997 dan akan ditebus sepenuhnya oleh Syarikat pada nilai nominal pada 19 September 2002. Kadar faedah Bon sebanyak 2% setahun akan dibayar secara tertunggak setiap tahun. Bon ini dijamin oleh Maybank Berhad.

Bon 4% 5-tahun yang ditadbirkan melalui Surat Ikatan Amanah bertarikh 25 Januari 1995 telah ditebus sepenuhnya oleh Syarikat pada nilai nominal pada 22 Februari 2000.

Pelanggan utama telah menawar untuk menjual hak pengagihan ke atas 102,056,445 dan 54,403,401 waran masing-masing pada harga tawaran 47.3 sen setiap waran dan RM1.13 setiap waran berasaskan satu waran bagi setiap lima saham biasa dan satu waran bagi setiap sepuluh saham biasa yang dipegang. Setiap waran boleh ditukar kepada saham biasa Syarikat pada harga RM3.75 dan RM4.15 sesaham biasa masing-masing. Langganan boleh dibuat sepanjang tempoh perlaksanaan iaitu lima tahun bermula dari tarikh waran diterbitkan, bergantung kepada pembaharuan seperti yang diperuntukkan dalam Surat Ikatan.

Tempoh langganan waran 1995/2000 dan waran 1997/2002 telah dilanjutkan ke tahun 2005 dan 2007 masing- masing dan tempoh perlaksanaan waran-waran ini telah diluluskan oleh pihak-pihak berkuasa yang berkenaan dan pemegang-pemegang saham Syarikat.

Syarikat telah membuat terbitan saham biasa baru dalam tahun kewangan ini dengan perlaksanaan terbitan hak. Dengan itu, harga langganan waran 1995/2005 dan 1997/2007 telah diubah kepada RM3.38 dan RM3.74 masing-masing, seperti yang dituntut oleh Surat Ikatan kedua-dua waran.

66 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

20 LIABILITI JANGKA PANJANG (SAMBUNGAN)

Pendahuluan daripada pemegang saham syarikat subsidiari

Pendahuluan daripada pemegang saham syarikat subsidiari adalah tanpa cagaran, tanpa faedah dan tiada tempoh pembayaran yang tetap.

Pinjaman jangka panjang

Pinjaman jangka panjang tanpa cagaran adalah daripada institusi kewangan pada kadar faedah dalam lingkungan 7.5% ke 8.0% setahun dan perlu dibayar semula dalam tempoh tiga hingga tujuh tahun dari tahun kewangan berakhir 31 December 2000.

21 MODAL SAHAM KUMPULAN DAN SYARIKAT 2000 1999 RM’000 RM’000

Dibenarkan:

Saham biasa RM1 sesaham Baki pada 1 Januari 5,000,000 1,000,000 Diwujudkan dalam tahun kewangan – 4,000,000

Baki pada 31 Disember 5,000,000 5,000,000

Diterbitkan dan dibayar sepenuhnya:

Saham biasa RM1 sesaham 922,656 574,887

Skim Opsyen Saham Kakitangan

Ciri-ciri utama ESOS 1 dan ESOS 2 adalah seperti berikut:

(b) Jumlah bilangan saham yang ditawarkan di bawah skim ESOS 1 dan ESOS 2 (termasuk saham yang diterbitkan untuk kakitangan semasa Syarikat disenaraikan di Bursa Saham Kuala Lumpur pada 1991) tidak boleh melebihi 10% dari modal saham terbitan Syarikat pada bila-bila masa ESOS 1 dan ESOS 2 diwujudkan yang masing-masing akan berkuatkuasa selama lima tahun dari 10 Mac 1995 dan tiga tahun dan empat bulan dari 28 Oktober 1996.

67 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

21 MODAL SAHAM (SAMBUNGAN)

(d) Tiada opsyen akan diberi untuk saham yang berjumlah kurang dari 7,000 atau lebih dari 200,000 kepada kakitangan yang layak.

(g) Saham-saham di bawah opsyen tidak akan diterbitkan sehingga ianya dilaksanakan dan apabila diterbitkan, bertaraf pari passu di dalam segala hal dengan saham-saham Syarikat yang sedia ada kecuali saham-saham tersebut tidak bertaraf untuk dividen atau pengagihan lain yang disyorkan, dibayar kepada pemegang-pemegang saham sebelum opsyen dilaksanakan dan akan dihadkan kepada peruntukan yang disebut di dalam Tataurusan Syarikat berkenaan dengan pertukaran, penyerahan dan sebagainya.

Opsyen ke atas saham biasa bernilai RM1 sesaham Pada harga Pada harga RM3.57 RM6.26 Jumlah

Pada 1 Januari 2000 8,955,000 8,290,000 17,245,000 Dilaksanakan dalam masa kewangan 3,992,000 – 3,992,000

Pada 9 Mac 2000 12,947,000 8,290,000 21,237,000

22 RIZAB KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Rizab boleh diagihkan: Keuntungan terkumpul 372,584 461,643 26,536 27,945 Rizab penggabungan terealisasi atas pelupusan syarikat subsidiari – – 1,000 1,000

68 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

22 RIZAB (SAMBUNGAN) KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Rizab tidak boleh diagihkan: Rizab berkanun 397,518 415,939 – – Rizab pertukaran matawang 2,707 2,759 – –

772,809 880,341 27,536 28,945

(a) Rizab berkanun Kumpulan dikekalkan mengikut peruntukan Akta Bank dan Institusi Kewangan, 1989 dan ia tidak boleh diagihkan sebagai dividen tunai.

(b) Pada 31 Disember 2000, Syarikat mempunyai kredit cukai yang mencukupi di bawah Seksyen 108 Akta Cukai Pendapatan, 1967 dan pendapatan terkecuali cukai di bawah Seksyen 12 Akta Cukai Pendapatan (Dipinda), 1999 (tertakluk kepada persetujuan pihak berkuasa cukai) untuk membiayai sepenuhnya daripada keuntungan terkumpul jika dibayar sebagai dividen, tanpa bayaran tambahan cukai.

23 PENDAPATAN FAEDAH KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Pinjaman, pendahuluan dan pembiayaan 1,269,106 1,181,713 – – Wang panggilan, deposit dan penempatan dengan institusi–institusi kewangan 69,301 79,607 8,007 1,449 Sekuriti dagangan 3,297 3,160 – – Sekuriti pelaburan 157,583 204,523 14,000 14,000

1,499,287 1,469,003 22,007 15,449 Pertambahan nilai diskaun ditolak pelunasan premium 61,494 50,303 – – Faedah tergantung bersih (191,839) (236,276) – –

1,368,942 1,283,030 22,007 15,449

24 PERBELANJAAN FAEDAH KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Deposit dan penempatan daripada bank–bank dan institusi–institusi kewangan lain 56,364 100,360 – – Deposit daripada pelanggan–pelanggan lain 512,200 628,228 – – Lain–lain 46,945 43,793 – –

615,509 772,381 – –

69 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

25 PENDAPATAN SKIM PERBANKAN ISLAM KUMPULAN 2000 1999 RM’000 RM’000

Pendapatan pembiayaan dari Skim Perbankan Islam 89,792 72,321 Yuran dan pendapatan 7,112 30,255 Perbelanjaan pembiayaan (59,705) (64,576)

37,199 38,000 Tolak: Keuntungan tergantung (5,056) (5,423)

32,143 32,577

26 PENDAPATAN BUKAN FAEDAH KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Yuran perkhidmatan dan komisyen

- yuran untuk pinjaman, pendahuluan dan pembiayaan 4,445 13,073 – – - yuran untuk pengurusan portfolio – 371 – – - yuran untuk nasihat korporat 6,816 6,608 – – - komisyen 89,672 50,399 – – - yuran perkhidmatan 23,533 22,366 – – - yuran untuk jaminan 21,045 40,318 – – - yuran lain 10,440 7,047 – –

155,951 140,182 – –

Pendapatan daripada pelaburan

- keuntungan daripada jualan sekuriti pelaburan 11,769 23,758 – – - pendapatan bersih daripada perniagaan instrumen kewangan pasaran 18,299 24,136 – – - Keuntungan daripada jualan sekuriti niaga 11,019 940 – –

Pendapatan dividen kasar

- Sekuriti dagangan 123 136 – – - Sekuriti pelaburan 551 1,065 – 757 - Syarikat–syarikat subsidiari – – 28,600 61,000 - Syarikat bersekutu – – – 5,000

41,761 50,035 28,600 66,757

70 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

26 PENDAPATAN BUKAN FAEDAH (SAMBUNGAN)

KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Pendapatan lain

- keuntungan/(kerugian) daripada urusan pertukaran mata wang asing - direalisasi 21,111 45,046 - - - tidak realisasi (5,089) (21,549) - - - pendapatan sewa 7,587 2,633 - - - keuntungan daripada jualan aset tetap 337 146 - - - pendapatan bukan operasi 5,177 8,782 26 8

29,123 35,058 26 8

226,835 225,275 28,626 66,765

27 PERBELANJAAN OVERHED KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Kos personel 200,823 146,313 306 265 Kos penubuhan 125,924 94,947 115 172 Perbelanjaan pemasaran 37,361 21,063 – – Perbelanjaan pentadbiran dan am 85,801 66,050 5,411 8,202

449,909 328,373 5,832 8,639

Perbelanjaan diatas merangkumi penyata berkanun seperti berikut:

Imbuhan pengarah - yuran 185 155 80 80 - ganjaran lain 751 646 – – Sewa bangunan 29,300 27,406 – – Sewa peralatan 1,655 (2,304) – – Sewa beli peralatan 19 19 – – Caj faedah persaraan kakitangan 3,756 2,040 – – Imbuhan juruaudit - audit berkanun 608 492 30 27 - lain-lain 7 355 – – Susutnilai aset tetap 56,967 33,583 2 1 Komisyen peniaga 14,092 12,391 – – Aset tetap dilupuskan 77 13 – – Pelunasan perbelanjaan tertunggak 261 2,887 261 698 Perbelanjaan tertunggak dihapuskira 8,421 – – –

Anggaran nilai wang bagi lain-lain manafaat yang diterima oleh para pengarah syarikat-syarikat subsidiari sepanjang tahun kewangan adalah dianggarkan sebanyak RM161,398 (1999: RM158,746). 71 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

28 KERUGIAN PINJAMAN, PERUNTUKAN PINJAMAN DAN PEMBIAYAAN

KUMPULAN 2000 1999 RM’000 RM’000 Peruntukan/(peruntukan terpulih) bagi hutang lapuk dan hutang ragu dan pembiayaan

- peruntukan khas (bersih) 426,884 207,328 - peruntukan am 66,225 (11,437)

Hutang lapuk

- dihapuskira 24,560 27,695 - diperolehi semula (19,528) (7,058)

Peruntukan untuk amaun berpulangan daripada Danaharta 31,196 29,701 Peruntukan bagi penyusutan nilai sekuriti pelaburan 62,820 8,200 Peruntukan bagi hutang ragu - penghutang lain 12,639 –

604,796 254,429

29 KOS KEWANGAN

Kos kewangan terdiri daripada perbelanjaan faedah ke atas bon pembiayaan, pinjaman jangkamasa pendek dan pinjaman jangkamasa panjang Kumpulan dan Syarikat.

30 BUTIRAN TERKECUALI KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Laba atas pelupusan syarikat subsidiari – – – 2,260

31 CUKAI KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Cukai pendapatan di Malaysia bagi tahun kewangan terdiri daripada:

Cukai semasa 36,458 (9,390) 3,215 19,644 Pindahan kepada cukai tertunda (Nota 18) – 8,370 – – Faedah cukai tertunda yang dihapuskira (Nota 12) 1,460 9,800 – –

37,918 8,780 3,215 19,644 Lebihan peruntukan di tahun-tahun lepas (13,856) (6,393) (12,589) (4,000)

24,062 2,387 (9,374) 15,644

72 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

31 CUKAI (SAMBUNGAN)

Kadar cukai efektif bagi subsidiari-subsidiari tertentu Kumpulan yang mempunyai cukai pendapatan pada tahun kewangan ini adalah lebih dari kadar berkanun yang lazim kerana sesetengah perbelanjaan yang tidak dibenarkan untuk tujuan cukai.

Pada 31 Disember 2000, Kumpulan mempunyai kerugian yang belum terserap berjumlah RM139,893,000 (1999: RM84,005,000) dan elaun modal yang belum digunakan berjumlah kira-kira RM21,016,000 (1999: RM22,180,000) yang boleh digunakan untuk membayar keuntungan yang boleh dikenakan cukai pada masa hadapan tertakluk kepada persetujuan pihak berkuasa cukai. Walaubagaimanapun, berkenaan dengan penggabungan perniagaan Affin Finance Berhad (‘AFB’) dengan Affin-ACF Finance Berhad (‘Affin-ACF’) (dahulu dikenali sebagai Asia Commercial Finance (M) Berhad) berkuatkuasa pada 3 Januari 2000, 50% daripada kerugian yang belum terserap AFB berjumlah kira-kira RM14,041,000 boleh dibawa ke hadapan kepada entiti tergabung, Affin-ACF dan boleh digunakan untuk membayar cukai Affin-ACF pada masa hadapan berjumlah kira-kira RM3,931,000, tertakluk kepada persetujuan pihak berkuasa cukai.

Menurut Akta Cukai Pendapatan (Dipinda) 1999, taksiran untuk cukai pendapatan yang berdasarkan pendapatan diterima pada tahun sebelumnya telah diubah kepada cukai atas pendapatan diterima pada tahun semasa bermula dari tahun taksiran 2000 dan cukai atas pendapatan (kecuali pendapatan dividen) yang telah diterima pada 1999 adalah dikecualikan. Selaras dengan ini, tiada peruntukan untuk cukai dibuat atas pendapatan yang diterima oleh Kumpulan dan Syarikat bagi tahun kewangan berakhir 31 Disember 1999, kecuali pendapatan dividen.

32 DIVIDEN KUMPULAN DAN SYARIKAT 2000 1999 RM’000 RM’000 Dividen akhir yang disyorkan:

1 sen (1999: 1 sen) kasar sesaham, ditolak cukai pendapatan pada 28% (1999: 28%) 6,643 4,139

33 (KERUGIAN)/PENDAPATAN SESAHAM

(Kerugian)/pendapatan asas bersih sesaham biasa dikira berdasarkan (kerugian)/pendapatan sebanyak (RM100,808,000) (1999: RM134,913,000) dan bilangan purata wajaran saham biasa dalam terbitan sebanyak 709,021,869 (1999: 603,038,100). Purata wajaran saham biasa untuk tahun kewangan ini dan tahun lepas telah diubahkan untuk mengambil kira saham terbitan hak berjumlah 307,551,668, yang telah diterbitkan dalam tahun kewangan ini.

Syarikat mempunyai waran yang boleh ditukar ke saham biasa yang mempunyai potensi pencairan. Saham biasa berpotensi ini tidak memberi kesan pencairan untuk tahun kewangan semasa dan tahun kewangan lepas dan tidak diambil kira dalam kiraan (kerugian)/pendapatan sesaham dicairkan Kumpulan.

Pengiraan (kerugian)/pendapatan sesaham kumpulan dan nota-nota penyataan menurut keperluan Lembaga Piawaian Perakaunan Malaysia 13 (‘MASB 13’).

73 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

34 PEMEROLEHAN SYARIKAT SUBSIDIARI KUMPULAN 2000 1999 RM’000 RM’000

Tunai dan tunai setara – 248,455 Sekuriti yang dibeli di bawah perjanjian beli–balik – 50,000 Deposit dan penempatan dengan institusi–institusi kewangan – 109,506 Penghutang – – Sekuriti pelaburan – 443,172 Pinjaman dan pendahuluan – 2,052,044 Deposit berkanun dengan Bank Negara Malaysia – 99,050 Aset tetap – 30,039 Aset–aset lain – 34,166 Deposit pelanggan – (1,948,444) Deposit bank–bank dan institusi–institusi kewangan – (807,624) Liabiliti–liabiliti lain – (74,772) Pinjaman bank – (50,994) Kepentingan minoriti – (133,620) Muhibah daripada penyatuan – 23,576

Jumlah imbalan belian – 74,554

Tolak: Imbalan di bayar dengan terbitan saham Affin Holdings Bhd – (1,207)

Imbalan dibayar dengan wang tunai – 73,347

Tolak: Wang tunai, dana jangka pendek dan deposit syarikat subsidiari yang diperolehi – (357,961)

Aliran tunai bersih daripada pemerolehan syarikat subsidiari – (284,614)

35 PELUPUSAN SYARIKAT SUBSIDIARI

Wang tunai dan dana jangka pendek – 11,984 Pinjaman dan pendahuluan – 525 Aset–aset lain – 73 Liabiliti–liabiliti lain – (104) Rizab penyatuan – (292) Pinjaman bank – (19) Kepentingan minoriti – (6,105)

Aset–aset bersih dijual terkumpul – 6,062

Jumlah imbalan pelupusan – (6,062) Tambah: Wang tunai dan dana jangka pendek syarikat subsidiari yang dilupuskan – 11,965

Aliran tunai bersih daripada pelupusan syarikat subsidiari – 5,903

74 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

36 FAEDAH PERSARAAN KAKITANGAN

Penilaian aktuari yang terkini pada 31 Disember 1999 untuk bank komersial dan syarikat-syarikat subsidiarinya mempunyai prinsip-prinsip andaian yang berikut:

(a) pulangan pelaburan adalah 7.0% setahun (b) kenaikan gaji adalah pada purata 7.0% setahun (c) kadar inflasi pada 4.0% setahun

Caj untuk faedah persaraan bank komersial dan syarikat-syarikat subsidiarinya tahun kewangan ini berjumlah RM3,033,412 (1999: RM1,380,000).

Penilaian aktuari bagi 31 Disember 1999 menunjukkan nilai realisasi bersih dari dana aset berjumlah RM7,150,736 dan terdapat kekurangan sebanyak RM6,942,966 bila dibandingkan dengan nilai andaian liabiliti perkhidmatan lepas. Kekurangan ini telah diperuntukkan sepenuhnya di dalam akaun tahun kewangan ini.

Caj untuk faedah persaraan syarikat kewangan tahun kewangan ini berjumlah RM723,000 (1999: RM660,000).

37 TUNAI DAN SETARA TUNAI PADA AKHIR TAHUN KEWANGAN

KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Tunai dan dana jangka pendek 2,091,160 2,137,118 330,499 16,968 Pelarasan untuk wang dipegang atas amanah untuk pelanggan dan remiser (988) (2,137) – –

2,090,172 2,134,981 330,499 16,968

38 ILTIZAM DAN LUARJANGKAAN KUMPULAN 2000 1999 RM’000 RM’000 (a) Iltizam Modal:

Perbelanjaan modal dibenarkan terkontrak tetapi tidak diperuntukkan 58,768 165,184

Perbelanjaan modal diluluskan tetapi tidak dikontrakkan 8,398 11,688

67,166 176,872

75 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

38 ILTIZAM DAN LUARJANGKAAN (SAMBUNGAN)

(b) Iltizam pajakan:

Bank komersial dan syarikat-syarikat subsidiari mempunyai iltizam pajakan berkaitan dengan sewa bangunan dan peralatan, kesemuanya boleh dikelaskan sebagai pajak kendalian. Ringkasan iltizam jangka panjang yang tidak boleh dibatalkan, baki selepas ditolak sewa luaran adalah seperti berikut:-

Tahun RM’000

2001 79,190 2002 58,542 2003 38,461 2004 17,720

Angka-angka pajakan tersebut merupakan sewa minimum yang belum diselaraskan dengan perbelanjaan kendalian yang wajib dibayar. Jumlah ini adalah tidak penting berhubung dengan sewa minimum wajib. Dalam urusan perniagaan biasa, pajakan yang matang akan diperbaharui atau digantikan dengan pajakan atas harta-harta lain. Oleh itu, adalah dijangkakan bahawa iltizam pajakan minimum pada masa hadapan tidak akan kurang daripada perbelanjaan sewa bagi 2000.

Dalam urusan perniagaan biasa perbankan dan kewangan, syarikat-syarikat subsidiari tersebut membuat beberapa iltizam dan tanggungan luarjangka tertentu dengan hak tuntut di bawah undang-undang ke atas pelanggan mereka. Tiada kerugian besar dijangka akan timbul dari urusniaga tersebut.

KUMPULAN 2000 2000 1999 1999 Jumlah Jumlah Jumlah setara Jumlah setara prinsipal kredit* prinsipal kredit* RM’000 RM’000 RM’000 RM’000

Kontrak berkaitan dengan kadar faedah - kurang dari satu tahun 139,000 7,133 37,000 3,710 - satu tahun hingga kurang lima tahun 621,400 10,694 40,000 540 - lima tahun ke atas 36,400 684 11,400 1,788 Kontrak pertukaran mata wang asing - kurang dari satu tahun 3,833,516 65,287 2,172,621 36,039 Komitmen penanggungan 1,508,500 754,250 561,651 280,826 Pinjaman perumahan dijual kepada Cagamas Berhad 384,709 384,709 356,618 356,618 Sewa beli yang dijual kepada Cagamas Berhad secara langsung dan tidak langsung dengan perlindungan 150,487 150,487 167,232 167,232 Gantian kredit terus 1,070,536 1,070,536 1,009,421 1,009,421 Tanggungan luarjangkaan 1,594,143 797,072 1,635,585 817,793

76 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

38 ILTIZAM DAN LUARJANGKAAN (SAMBUNGAN)

KUMPULAN 2000 2000 1999 1999 Jumlah Jumlah Jumlah setara Jumlah setara prinsipal kredit* prinsipal kredit* RM’000 RM’000 RM’000 RM’000

Tanggungan luarjangkaan jangka pendek yang cair sendiri 2,012,718 402,504 479,747 95,949 Komitmen kredit yang tidak boleh dibatalkan - matang selepas satu tahun 1,416,531 708,266 1,690,572 845,287 - matang sebelum satu tahun 3,079,870 – 1,915,907 – Jaminan 374,650 374,650 402,238 402,238 Al-Kafalah 16,898 16,898 49 49 Aset-aset lain dijual dengan hak tuntut dan iltizam pinjaman – – 101,654 50,827 Pengesahan penerimaan jurubank – – 12,481 –

16,239,358 4,743,170 10,594,176 4,068,317

* Amaun setara kredit dicapai dengan menggunakan faktor setara kredit yang terdapat dalam Garis Panduan Bank Negara Malaysia.

Iltizam dan luarjangkaan lain berpunca daripada perniagaan biasa subsidiari-subsidiari perbankan. Justeru itu, tanggungan luarjangka Kumpulan adalah tanpa cagaran.

Kumpulan ini mempunyai tanggungan luarjangka berhubung dengan pinjaman perumahan yang dijual kepada Cagamas Berhad, dengan syarat bahawa Kumpulan ini mentadbirkan pinjaman bagi pihak Cagamas Berhad dan membeli semula pinjaman yang dianggap tidak sempurna berdasarkan kriteria yang terdapat di dalam perjanjian.

Kontrak pertukaran matawang asing dan kontrak berkaitan dengan kadar faedah adalah seperti berikut:

KUMPULAN 2000 2000 1999 1999 Jumlah Jumlah Jumlah setara Jumlah setara prinsipal kredit* prinsipal kredit* RM’000 RM’000 RM’000 RM’000 Kontrak pertukaran matawang asing - kontrak hadapan dan kontrak niagaan hadapan 3,833,516 65,287 2,172,621 36,039

Kontrak kadar faedah - kontrak hadapan dan kontrak niagaan hadapan 445,000 – 37,000 3,710 - pertukaran 351,800 18,511 51,400 2,328

Kontrak pertukaran matawang asing dan kontrak berkaitan dengan kadar faedah adalah terdedah kepada risiko pasaran dan risiko kredit. 77 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

38 ILTIZAM DAN LUARJANGKAAN (SAMBUNGAN)

Risiko pasaran

Risiko pasaran adalah kemungkinan perubahan niai disebabkan oleh pergerakan kadar pasaran atau harga. Jumlah kontrak yang dinyatakan di atas memberi pengukuran penglibatan terhadap urusniaga- urusniaga ini dan tidak menunjukkan jumlah yang tertakluk kepada risiko pasaran. Pendedahan kepada risiko pasaran boleh dikurangkan melalui penolakan dalam dan luar kedudukan lembaran imbangan. Pada 31 Disember 2000 jumlah bayangan kontrak yang tidak terlindung nilai dan dengan itu terdedah kepada risiko pasaran adalah sebanyak RM5.0 juta (1999: RM2.1 juta), manakala jumlah bayangan kadar faedah yang tidak terlindung nilai di Klibor hadapan dalam asas persamaan adalah RM11.0 juta (1999: RM82.0 juta).

Risiko kredit

Risiko kredit berpunca dari kemungkinan pihak berkaitan tidak memenuhi syarat-syarat kontrak di mana subsidiari berada dalam kedudukan yang menguntungkan. Pada 31 Disember 2000, jumlah risiko kredit dari pertukaran matawang asing dan kadar faedah, diambil kira secara kos untuk menggantikan kontrak yang mengguntungkan adalah sebanyak RM60.0 juta (1999: RM36.0 juta) dan RM17.8 juta (1999: RM2.3 juta) masing-masing. Jumlah ini mungkin naik ataupun turun sepanjangan umur kontrak, terutama sebagai fungsi tempoh kematangan dan kadar pasaran ataupun harga.

39 TUNTUTAN TERHADAP KUMPULAN

Terdapat kes-kes dakwaan terhadap syarikat subsidiari, bank komersial berjumlah kira-kira RM22.1 juta (1999: RM52.6 juta). Berdasarkan nasihat perundangan, para pengarah bank tersebut berpendapat bahawa peruntukan tidak perlu dibuat kerana kemungkinan keputusan mahkamah yang merugikan adalah tipis.

40 BAKI DAN URUSNIAGA PENTING ANTARA SYARIKAT BERKAITAN

Syarikat berkaitan dan hubungan mereka dengan Syarikat adalah seperti berikut:

Syarikat berkaitan Hubungan

Lembaga Tabung Angkatan Tentera Badan pemegangan korporat utama dan badan korporat pemegang muktamad

Syarikat-syarikat subsidiari adalah Syarikat-syarikat subsidiari seperti yang dinyatakan di Nota 8

Boustead Holdings Berhad Syarikat subsidiari kepada badan korporat pemegang muktamad

Dalam urusan biasa perniagaan, Kumpulan dan Syarikat menjalankan pelbagai urusan perniagaan dengan badan korporat pemegang muktamad dan syarikat-syarikat berkaitan, iaitu syarikat-syarikat subsidiari Lembaga Tabung Angkatan Tentera (‘kumpulan LTAT’).

78 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

40 BAKI DAN URUSNIAGA PENTING ANTARA SYARIKAT BERKAITAN (SAMBUNGAN)

Selain daripada penyataan syarikat berkaitan yang telah dinyatakan di penyata kewangan ini, baki dan urusniaga penting yang lain antara syarikat berkaitan adalah seperti berikut. Urusniaga penting antara syarikat berkaitan yang penting yang dinyatakan seperti berikut diuruskan mengikut terma-terma dan syarat-syarat yang terdapat pada urusniaga dengan syarikat yang tidak berkaitan kecuali dinyatakan sebaliknya. Kadar faedah ke atas simpanan tetap dan jangka pendek adalah pada kadar komersial biasa.

KUMPULAN SYARIKAT 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 PENDAPATAN

Pendapatan pembayaran pembrokeran daripada kumpulan LTAT 4,638 4,337 – –

Pendapatan pembayaran lain–lain daripada kumpulan LTAT 40 – – –

PERBELANJAAN

Perbelanjaan faedah dibayar kepada badan korporat pemegang muktamad 13,164 29,636 – –

Sewaan bangunan dibayar kepada badan korporat pemegang muktamad 1,448 1,484 – –

Pendapatan Skim Perbankan Islam dibayar kepada badan korporat pemegang muktamad 3,158 – – –

JUMLAH TERHUTANG DARIPADA

Deposit sewaan dengan badan korporat pemegang muktamad 350 302 – –

JUMLAH TERHUTANG KEPADA

Jangka pendek:

Kumpulan LTAT - Simpanan jangka pendek 270,130 700,515 – – - Akaun semasa 6,317 13,542 – – - Faedah akan diterima 1,025 3,782 – –

Lain–lain jumlah akan diterima daripada badan korporat pemegang muktamad – 33 – 33

79 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

41 PERISTIWA-PERISTIWA PENTING SEPANJANG TAHUN KEWANGAN SEMASA

Pemerolehan ACF Holdings Berhad - Tawaran Mandatori Tak Bersyarat

Pada 10 Disember 1999, Syarikat telah menyerahkan Tawaran Mandatori Tak Bersyarat kepada pemegang- pemegang saham ACF Holdings Berhad (‘ACFHB’), untuk memperolehi baki saham ACFHB berjumlah 122,511,000 yang mewakili 45.5% daripada modal saham ACFHB yang diterbitkan dan telah dibayar yang belum dimiliki oleh Syarikat pada harga tawaran RM1.20 sesaham.

Pada 20 Januari 2000, Syarikat telah menerbitkan 36,223,785 saham baru sebagai pertukaran untuk 63,395,229 saham ACFHB daripada pemegang-pemegang saham ACFHB yang menerima tawaran saham berikutan Tawaran Mandatori Tak Bersyarat. Syarikat juga telah membayar RM13,813 secara tunai untuk memperolehi 11,511 saham ACFHB daripada pemegang-pemegang saham ACFHB yang menerima tawaran secara tunai.

Terbitan hak

Pada 13 Jun 2000, Syarikat telah menerbitkan 307,551,668 saham hak baru pada harga terbitan RM2.10 sesaham berasaskan dua (2) saham hak dengan satu (1) waran baru untuk setiap empat (4) saham Affin Holdings Berhad (‘AHB’) yang dipegang.

Pemerolehan BSN Commercial Bank (M) Berhad (‘BSNC’) dan BSN Merchant Bank Berhad (‘BSNMB’)

Pada 30 Ogos 2000, Syarikat dan Affin Bank Berhad (dahulu dikenali sebagai Perwira Affin Bank Berhad) (‘ABB’) telah menandatangani Perjanjian Pemerolehan Perniagaan dengan pemegang-pemegang saham utama BSNC dan BSNMB untuk cadangan pemerolehan aset-aset dan liabiliti-liabiliti tertentu BSNC oleh ABB dan Perjanjian Penjualan Saham untuk cadangan pemerolehan keseluruhan modal saham diterbitkan dan dibayar BSNMB oleh Affin Merchant Bank Berhad (dahulunya dikenali sebagai Perwira Affin Merchant Bank Berhad) (‘AMB’).

Pada 13 Oktober 2000, Syarikat telah menandatangani perjanjian novasi dengan pemegang-pemegang saham utama BSNMB, untuk melepaskan segala tanggungjawab dan kewajipan AMB dan memberi ABB pemegangan ke atas kesemua hak, tanggungjawab dan obligasi yang dipegang oleh AMB seperti yang terkandung di dalam Perjanjian Penjualan Saham.

Cadangan pemerolehan disyorkan aset-aset dan liabiliti-liabiliti tertentu BSNC untuk imbalan jualan yang berjumlah RM338,980,000 akan diselanggarakan dengan 96,851,428 terbitan saham biasa baru Syarikat pada harga terbitan RM2.80 sesaham dan baki dengan tunai berjumlah RM67,796,000.

Cadangan pemerolehan keseluruhan modal saham diterbitkan dan dibayar BSNMB untuk imbalan jualan yang berjumlah RM32,924,000 akan diselanggarakan dengan terbitan 11,758,571 saham biasa baru Syarikat pada harga terbitan RM2.80 sesaham.

Pemerolehan BSNC dan BSNMB yang disebutkan ini telah diluluskan oleh pemegang-pemegang saham Syarikat dan pihak-pihak berkuasa yang berkenaan.

80 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

41 PERISTIWA-PERISTIWA PENTING SEPANJANG TAHUN KEWANGAN INI (SAMBUNGAN)

Pemerolehan BSN Finance Berhad (‘BSNF’)

Pada 30 Ogos 2000, ACFHB dan Affin-ACF Finance Berhad (dahulu dikenali sebagai Asia Commercial Finance (M) Berhad) (‘Affin-ACF’) telah menandatangani Perjanjian Penjualan Saham dengan pemegang-pemegang saham utama BSNF untuk cadangan pemerolehan BSNF oleh Affin-ACF.

Cadangan pemerolehan disyorkan untuk keseluruhan modal saham terbitan dan dibayar BSNF untuk imbalan jualan berjumlah RM85,652,000 akan diselenggarakan dengan terbitan 69,074,194 saham biasa baru ACFHB pada harga terbitan RM1.24 sesaham.

Pemerolehan BSNF telah diluluskan oleh pemegang-pemegang saham ACFHB dan pihak-pihak berkuasa yang berkenaan.

Pemerolehan disyorkan Amsteel Securities (M) Sdn Bhd (‘AmsteelSec’)

Pada 14 Disember 2000, Affin-UOB Holdings Sdn Bhd (‘AUOBH’), iaitu syarikat subsidiari yang dimiliki 55% oleh Syarikat, telah menandatangani Perjanjian Penjualan Bersyarat (‘Perjanjian’) dengan pemegang-pemegang saham AmsteelSec untuk cadangan pemerolehan disyorkan keseluruhan modal saham terbitan dan dibayar AmsteelSec yang terdiri daripada 185,000,0000 saham biasa bernilai RM1.00 sesaham untuk imbalan jualan berjumlah RM285,000,000 yang akan dipenuhi dengan tunai.

Dengan perlaksanaan Perjanjian ini, AUOBH dikehendaki meletakkan deposit yang boleh dikembalikan berjumlah RM28,500,000 kepada pemegang amanah harta yang dikenal pasti di dalam Perjanjian.

42 PERISTIWA-PERISTIWA BERIKUTAN TARIKH LEMBARAN IMBANGAN

Dengan perlaksanaan Perintah Letak Hak Mahkamah Tinggi Malaya bertarikh 18 Disember 2000 dan 8 Januari 2001, aset-aset dan liabiliti-liabiliti yang diperolehi daripada BSNC dan kesemua aset dan liabiliti BSNMB seperti yang dinyatakan di Nota 41 telah diletak hak kepada ABB pada 1 Januari 2001 dan 8 Januari 2001 masing-masing.

Dengan perlaksanaan Perintah Letak Hak Mahkamah Tinggi Malaya, perniagaan syarikat kewangan, aset- aset dan liabiliti-liabiliti BSNF seperti yang dinyatakan di Nota 41 telah diletak hak kepada Affin-ACF pada 4 Januari 2001.

81 NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMBUNGAN) 31 DISEMBER 2000

43 ANALISA SEGMEN

Analisa segmen Kumpulan mengikut kegiatan dalam tahun 2000 dan 1999 adalah seperti berikut:

Keuntungan/ Hasil (kerugian) Aset kendalian sebelum cukai digunakan RM’000 RM’000 RM’000 2000

Pemegangan pelaburan 74,115 14,694 3,123,161 Perbankan komersial dan saudagar 1,028,288 (207,517) 17,704,255 Kewangan dan pajakan 420,352 76,235 4,556,083 Rumah diskaun dan broker kewangan 120,713 68,745 1,760,308 Sekuriti dan pengurusan aset 57,234 9,207 173,005 Insurans 4,932 2,781 24,926

1,705,634 (35,855) 27,341,738 Pelarasan penyatuan (77,714) (60,508) (2,685,373)

1,627,920 (96,363) 24,656,365

1999

Pemegangan pelaburan 84,702 23,069 2,613,020 Perbankan komersial dan saudagar 1,187,586 96,744 17,538,694 Kewangan dan pajakan 295,071 18,545 2,982,816 Rumah diskaun dan broker kewangan 136,557 65,858 1,670,493 Sekuriti dan pengurusan aset 29,817 50 167,479 Insurans 5,001 3,397 5,939

1,738,734 207,663 24,978,441 Pelarasan penyatuan (197,852) (63,342) (479,357)

1,540,882 144,321 24,499,084

Pada asasnya, kegiatan Kumpulan dikendalikan di Malaysia. Oleh itu tiada maklumat mengenai kegiatan Kumpulan mengikut segmen kedudukan geografi dinyatakan.

82 PENYATA PARA PENGARAH SELARAS DENGAN SEKSYEN 169(15) AKTA SYARIKAT, 1965

Kami, Dato’ Lodin bin Wok Kamaruddin dan Azzat bin Kamaludin, dua daripada para pengarah Affin Holdings Berhad, dengan ini menyatakan bahawa pada pendapat para pengarah, penyata-penyata kewangan yang di bentangkan di muka surat 30 hingga 82 telah disediakan supaya memberi gambaran yang benar dan saksama mengenai kedudukan Kumpulan dan Syarikat pada 31 Disember 2000 dan mengenai keputusan kewangan dan aliran tunai Kumpulan dan Syarikat bagi tahun berakhir pada tarikh tersebut mengikut piawaian perakaunan yang diluluskan dan yang berkenaan di Malaysia serta mengikut Garis Panduan Bank Negara Malaysia dan peruntukan Akta Syarikat, 1965.

Bagi pihak Lembaga Pengarah bersamaan dengan resolusi Lembaga Pengarah bertarikh 23 April 2001

DATO’ LODIN BIN WOK KAMARUDDIN AZZAT BIN KAMALUDIN Pengarah Pengarah

Kuala Lumpur 23 April 2001

PERAKUAN BERKANUN SELARAS DENGAN SEKSYEN 169(16) AKTA SYARIKAT, 1965

Saya, Yu Choong Cheong, pegawai yang bertanggungjawab ke atas pengurusan kewangan Affin Holdings Berhad, dengan sesungguhnya dan ikhlas berikrar bahawa penyata kewangan yang dibentangkan di muka surat 30 hingga 82 setakat yang saya ketahui dan percaya adalah betul dan saya membuat pengakuan ini dengan sesungguhnya mempercayai bahawa ia adalah benar dan menurut Akta Perisytiharan Berkanun, 1960.

YU CHOONG CHEONG

Ditandatangani dan diakui oleh penama di atas Yu Choong Cheong di Kuala Lumpur, Malaysia pada 23 April 2001 di hadapan saya.

LT. KOL (B) HJ. ABDULLAH BIN MOHD YUNUS No.: W118 PESURUHJAYA SUMPAH

83 LAPORAN JURUAUDIT KEPADA AHLI-AHLI AFFIN HOLDINGS BERHAD (No Syarikat 23218 W)

Kami telah mengaudit penyata-penyata kewangan yang dibentangkan di mukasurat 30 hingga 82. Penyata- penyata kewangan tersebut adalah tanggungjawab para pengarah Syarikat. Tanggungjawab kami adalah untuk menyatakan pendapat ke atas penyata-penyata kewangan tersebut berdasarkan audit kami.

Kami telah menjalankan audit kami mengikut piawaian-piawaian audit berkenaan yang diluluskan di Malaysia. Piawaian-piawaian tersebut memerlukan kami merancang dan melaksanakan audit untuk memperolehi keyakinan yang munasabah samada penyata-penyata kewangan adalah bebas dari kenyataan-kenyataan penting yang salahnyata. Sesuatu audit merangkumi pemeriksaan, secara ujian, bukti yang menyokong jumlah-jumlah dan penyataan di dalam akaun. Audit juga merangkumi penaksiran terhadap penggunaan prinsip-prinsip perakaunan dan anggaran-anggaran penting yang dibuat oleh para pengarah dan juga penilaian ke atas pembentangan penyata kewangan keseluruhannya. Kami percaya audit kami memberi asas yang munasabah untuk pendapat kami.

Pada pendapat kami:

(a) penyata-penyata kewangan telah disediakan berdasarkan Piawaian-piawaian Perakaunan yang diluluskan dan berkenaan di Malaysia, Garis Panduan Bank Negara Malaysia dan peruntukan Akta Syarikat, 1965 untuk memberikan gambaran yang benar dan saksama tentang:

(i) perkara-perkara yang dikehendaki oleh Seksyen 169 Akta Syarikat, 1965 untuk dinyatakan di dalam penyata kewangan; dan

(ii) kedudukan Kumpulan dan Bank pada 31 Disember 2000 dan keputusan serta aliran tunai Kumpulan dan Bank bagi tahun kewangan berakhir pada tarikh tersebut. dan

(b) rekod-rekod perakaunan dan rekod-rekod lain serta daftar-daftar yang dikehendaki oleh Akta disimpan oleh Bank dan syarikat subsidiari yang diaudit oleh kami telah disimpan dengan sempurna menurut peruntukan- peruntukan Akta tersebut.

Nama syarikat-syarikat subsidiari yang tidak diaudit oleh kami dinyatakan dalam nota 8 kepada penyata kewangan. Kami telah mengambilkira penyata-penyata kewangan syarikat-syarikat subsidiari ini dan laporan juruaudit yang berkenaan.

Kami berpuas hati bahawa syarikat-syarikat subsidiari yang telah disatukan dengan akaun Syarikat adalah dalam bentuk dan kandungan yang bersesuaian dan teratur untuk tujuan penyediaan akaun yang disatukan, dan kami telah menerima maklumat yang memuaskan dan keterangan-keterangan yang diperlukan untuk tujuan tersebut.

Laporan juruaudit ke atas penyata kewangan syarikat-syarikat subsidiari tidak dikenakan sebarang pengecualian dan tidak mengandungi sebarang teguran mengikut Subseksyen (3), Seksyen 174 Akta tersebut.

PRICEWATERHOUSECOOPERS (No. AF: 1146) Akauntan Awam

DATO’ AHMAD JOHAN BIN MOHAMMAD RASLAN (No. 1867/09/02 (J)) Rakan dalam firma

Kuala Lumpur 23 April 2001

84 BUTIR-BUTIR HARTANAH

Butir-butir hartanah kumpulan pada 31 Disember 2000 adalah seperti berikut:- Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

HS (D) 4504 & 4502 No 100 & 101 2 unit rumah kedai Pajakan Tanah - 4,030 18 300,579.81 Lot 3 & 4 Melaka Taman Melaka Raya 3 tingkat/ (99 tahun) Binaan 12,000 Daerah Melaka Tengah Jalan Parameswara Pejabat cawangan Tamat: 2075 75000 Melaka

HS (D) 12930 & No 5 & 7, 2 unit rumah kedai Milik bebas Tanah - 3,520 13 888,480.80 12931 MLO 7278 & Jalan Perisai 2 tingkat/ Binaan 6,776 7279 Mukim Plentong Taman Sri Tebrau Pejabat cawangan 80050 Johor Bahru Johor

HS (D) 5217 No 1, Jalan Berangan 1 unit rumah kedai Milik bebas Tanah - 3,000 19 620,061.00 PT 90 (Sec 1) 42008 Port Klang 4 tingkat/ Binaan 12,768 Port Klang Selangor Darul Ehsan Pejabat cawangan Daerah Klang

HS (D) 1075/80 & No 1, Jalan SMIC/5 2 unit rumah kedai Pajakan Tanah - 4,688 18 151,767.31 1076/80 PT 3965 & Bandar Baru Sri Manjung 2 tingkat (99 tahun) Binaan 6,160 3966 Mukim Setiawan Sitiawan, Perak Tamat: 2079 Daerah Dinding

HS (D) 3304 & 9274 No. 11 & 13, 2 unit rumah kedai Milik bebas Tanah - 3,480 12 364,180.56 Lot 1856 & 1857 Jalan Kampar 3 tingkat/ Binaan 10,320 Daerah Kinta 30250 Ipoh Pejabat cawangan Perak Darul Ridzuan

HS (D) 892 No. 1, 1 unit rumah kedai Milik bebas Tanah - 3,367 9 1,224,696.42 PT 6727/24 Jalan Tun Dr.Ismail 3 tingkat/ Binaan 12,800 Mukim Kuala Kuantan P.O. Box 354 Pejabat cawangan Daerah Kuantan 24740 Kuantan Pahang Darul Makmur

HS (D) 12930 & No. 41, Jalan Bakawali 35 1 unit rumah kedai Milik bebas Tanah - 2,607 10 286,110.20 12931 MLO 7278 & Taman Johor Jaya 2 tingkat/ Binaan 5,614 7279 Mukim Plentong 81100 Johor Bahru, Pejabat cawangan Daerah Johor Bahru Johor Darul Takzim

HS (M) 6367, PT 7485 Nadi Kota, Bangunan detach Pajakan Tanah - 20,056 10 583,533.16 Mukim Chenor Daerah Bandar Pusat Jengka setingkat/ (99 tahun) Binaan 2,500 Maran 26400 Jengka, Pejabat cawangan Tamat: 2091 Pahang Darul Makmur

Lot 223, Sec 11 223/224, 2 unit rumah kedai Milik bebas Tanah - 4,659 9 1,035,670.08 Lot 224, Sec 11 Jalan Satok, KLTD, 4 tingkat/ Binaan 11,858 Bandaraya Kuching 93400 Kuching Sarawak Pejabat cawangan

85 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

Title 12000 PT 7804 No. 72 Jalan Kebun Teh Bungalow setingkat/ Milik bebas Tanah - 8,140 10 161,825.65 Daerah Johor Bahru Johor Bahru Kediaman pengurus Binaan 4,757 Johor Darul Takzim cawangan

Title 2624 Lot 97 No. 5132 Jalan Dato’ Bungalow setingkat/ Pajakan Tanah - 9,311 13 134,355.76 Sek 11 Bandar Pelambang Bukit Baru, Kediaman pengurus (60 tahun) Binaan 1,712 Bukit Baru Daerah Melaka cawangan Tamat: 2055 Melaka Tengah

HS (D) 10842 & No. 211 & 213 2 unit rumah kedai Pajakan Tanah - 3,968 12 12,918.95 10843 PT 266 & 267 Jalan Perkasa 1 4 tingkat/ (99 tahun) Binaan 15,872 Mukim Ampang Taman Maluri, Cheras Pejabat cawangan/ Tamat: 2076 Daerah Kuala Lumpur 55100 Kuala Lumpur Sekulah perbankan

TL 107526054 Lot 3A & 3B Bungalow Milik bebas Tanah - 6,670 8 311,513.56 Lot 3A TL 107526053 Taman Emas 2, dua tingkat/ Binaan 2,007 Lot 3B Daerah Tawau Batu 2 Jalan Sin Onn Kediaman pengurus Tawau, Sabah cawangan

HS (M) 12950 PT 16732 No. A715B Bungalow Milik bebas Tanah - 6,996 8 201,414.12 Mukim Kuala Kuantan Lorong Tok Sira 13 dua tingkat/ Binaan 2,868 Daerah Kuantan Taman Datin Mahanum Kediaman pengurus Kuantan, cawangan Pahang Darul Makmur

Title 12236 Lot 1676 Lot 1676 Bungalow Milik bebas Tanah - 6,996 18 122,400.00 Mukim & Jalan Koh Kee Kah satu tingkat/ Binaan 2,868 Daerah Port Dickson Taman Koh Kee Kah Kediaman pengurus 71000 Port Dickson cawangan Negeri Sembilan Darul Khusus

HS (D) 39216 K1, No. 1A, B & C Rumah kedai Pajakan Tanah - 3, 900 6 1,804,141.35 PT 2068 Mukim & Jalan TK 1/11A 3 tingkat (99 tahun) Binaan 15,600 Daerah Petaling Taman Kinrara, Seksyen 1 berbasement/ Tamat: 2091 47100 Puchong Pejabat cawangan Selangor Darul Ehsan

P.M. No.389 No.52 Perumahan Bungalow Pajakan Tanah - 3, 843 6 120,486.00 Lot No. 6834 Lot 144 Gong Limau, dua tingkat/ (99 tahun) Binaan 2,200 Mukim Chukai Kemaman, Kediaman pengurus Tamat: 2082 Daerah Kemaman Terengganu cawangan

HS (D) 11547/ 11548 No. 11 & 11A Rumah kedai Milik bebas Tanah - 3,261 4 1,487,615.04 PT 15727/15728 Jalan Memanda 7/1 5 tingkat Binaan 5,658 Mukim of Ampang Off Jalan Ampang berbasement/ 68000 Ampang Pejabat cawangan Selangor Darul Ehsan

86 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

HS (D) 7570 & 7571 Plot 65 & 66 2 unit rumah kedai Milik bebas Tanah - 3,080 8 1,432,806.68 Lot 8552 & 8553 Taman Sri Tunas Muda 3 tingkat/ Binaan 8,360 Mukim 12 11950 Bayan Baru, Pejabat cawangan Daerah Barat Daya Pulau Pinang

HS (D) 169672 PTD 85558 Rumah semi Milik bebas Tanah - 3,200 8 190,402.75 PTD 85558 Jalan Molek 2/17 detached Binaan 2,090 Mukim Plentong Taman Molek, Fasa 2 Kediaman pengurus Daerah Johor 81100 Johor Bahru cawangan Johor Darul Takzim

HS (D) 2874 & PTD 4161 No. 503, Jalan Mersing 2 unit rumah kedai Milik bebas Tanah - 6,000 7 1,296,833.94 Township of Kluang 86000 Kluang 3 tingkat/ Binaan 9,944 Daerah Kluang Johor Darul Takzim Pejabat cawangan

HS (D) 9406 Lot 8226 & No. 7 & 9 2 unit rumah kedai Milik bebas Tanah - 3,520 7 1,264,201.00 PT 4045 HS (D) 9407 Jalan SS 15/8A 4 tingkat/ Binaan 9,944 Lot 8227 & PT 4046 Subang Jaya Pejabat cawangan Mukim Damansara 47500 Petaling Jaya Daerah Petaling Selangor Darul Ehsan

HS (D) 67041 & 67042 No. 4 & 6, Jalan Telawi 3 2 unit rumah kedai Milik bebas Tanah - 4,659 9 4,361,185.90 PT 3479& 3480 59100 Bangsar Baru, 3 tingkat/ Binaan 11,858 Mukim Kuala Lumpur Kuala Lumpur Pejabat cawangan Daerah Wilayah Persekutuan dan lokasi DRP

HS (M) 4961 No. 2 & 3 2 unit rumah kedai Milik bebas Tanah - 3,510 5 1.00 PT 457 HS (M) 4962 Jalan Saga Taman Saga, 3 tingkat/ Binaan 11,136 PT 458 Mukim Sungai Chua, Pejabat cawangan Kajang Daerah 43000 Kajang Ulu Langat, Selangor Selangor Darul Ehsan

HS (M) 195/ 89 Plot 0195, Persiaran Bungalow Milik bebas Tanah - 16,620 7 148,698.35 PT 10107 HS (M) 4962 Cinta Sayang Taman Ria, satu tingkat/ Binaan 1,221 PT 458 Mukim Sungai Petani Kediaman pengurus Sg. Petani Kedah Darul Aman cawangan Daerah Kuala Muda

GM 2251 & 2252 No. 1317 & 1318 2 unit rumah kedai Milik bebas Tanah - 2,390 5 673,081.57 Lots 3991 & 3992 Taman Sepakat 3 tingkat/ Binaan 6,920 Mukim & Daerah 13200 Kepala Batas Pejabat cawangan Seberang Perai Utara Pulau Pinang

Town Lease Lot 19 & 20 Blok K, 2 unit rumah kedai Pajakan Tanah - 2,780 7 2,436,723.70 No.017541374 & Sadong Jaya Complex 3 tingkat/ (60 Years) Binaan 10,144 01741383 Jalan Juara Ikan 3 Pejabat cawangan Tamat: 2046 Lots 82 & 83 Block K 88300 Kota Kinabalu Mukim Karamunsing Daerah Kota Kinabalu

87 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

HS (D) 73618 & 73619 Lot 5733 & 5734 2 unit rumah kedai Milik bebas Tanah - 3,600 6 949,335.98 PT 5733 & 5734 Jalan TS 2/1, 3 tingkat/ Binaan 10,800 Mukim Labu, Taman Semarak, Pejabat cawangan Mukim Seremban Fasa 11 71800, Nilai Negeri Sembilan Darul Khusus

PTD 112746 & 112747 No. 40 & 41 2 unit rumah kedai Milik bebas Tanah - 2,800 5 1,132,210.54 Mukim Plentong Pusat Perdagangan 2 tingkat/ Binaan 4,327 Daerah Johor Bahru, 81700 Pasir Gudang Pejabat cawangan Johor Johor Darul Takzim

HS (D) 71565 PT 338 No. 2 (26/25B) 1 unit rumah kedai Milik bebas Tanah - 3,488 6 807,939.92 Daerah Petaling Jln Hujung Permatang 2 tingkat/ Binaan 6,976 Mukim Damansara Section 26 Pejabat cawangan 40400 Shah Alam Selangor Darul Ehsan

PT 3636 HS (D)5167 No. 10 Jalan Todak 1 1 unit rumah kedai Pajakan Tanah - 3,681 4 2,693,706.48 PT 3637 HS (D)5168 Pusat Bandar Seberang 4 tingkat/ (99 Years) Binaan 13,716 Mukim 1, Seberang Jaya Pejabat cawangan Tamat: 2092 District Seberang 13700 Perai Perai Tengah, Penang Pulau Pinang

Lots 2387 & 2388 Lots 2387 & 2388 2 unit rumah kedai Pajakan Tanah - 3,190 4 1,685,454.03 Block 5 Daerah Miri Block A4 Boulevard 3 tingkat/ (60 Years) Binaan 8,371 Centre Off Jalan Miri, Pejabat cawangan Tamat: 2050 98000 Pujut Sarawak

Precint 3.4, Precint 3.4, Bangunan Milik bebas Tanah - 32,561 – 1,891,476.55 Pusat Bandar Shah Alam Pusat Bandar Shah Alam Affin Bank, Seksyen 14 40450 Seksyen 14 cawangan Selangor Darul Ehsan Shah Alam

PT 48474 HS (D) 86046 No. 130 & 132 2 unit rumah kedai Milik bebas Tanah - 5,138 6 2,598,584.58 PT 48475 HS (D) 86047 Jalan Rosmerah 2/17 3 tingkat/ Binaan 11,250 Mukim Plentong District Taman Johor Jaya Pejabat cawangan of Johor Bahru Phase VI, 81100 Johor Bahru Johor Darul Takzim

HS(D) 67774 & 67773 No. 47 & 49 2 unit rumah kedai Milik bebas Tanah - 5,138 9 5,132,953.92 Lot 29427 & 29428 Jalan Tun Mohd Fuad 3 3 tingkat/ Binaan 11,250 Mukim Kuala Lumpur Taman Tun Dr. Ismail Pejabat cawangan District of State of 60000 Kuala Lumpur Wilayah Persekutuan

88 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

S03 & S04 PT 72 No. 3 & 4 2 unit rumah kedai Milik bebas Tanah - 3,532 4 1,454,267.46 HS (D) 7295 Mukim Jalan Penambakan Laut 3 tingkat/ Binaan 9,900 Port Dickson Bandar Port Dickson Pejabat cawangan 71009 Negeri Sembilan Darul Khusus

PT 100479 & PT 100480 No. 23 & 25 2 unit rumah kedai Milik bebas Tanah - 3,840 7 3,005,568.20 Mukim Plentong District Jalan Permas 10/1 4 tingkat/ Binaan 16,227 of Johor Bahru 81750 Permas Jaya Pejabat cawangan Johor Darul Takzim

Lot 2631, Lots 2631 Pujut 7, Rumah detached Pajakan Tanah - 6,548 5 331,200.00 Block No.2 Pujut Lutong Road 2 tingkat (60 Years) Binaan 2,276 Miri Concession Miri, Sarawak Kediaman pengurus Tamat: 2055 Tanah Sarawak cawangan

PT 20871 & 20872 No. 1 & 3 2 unit rumah kedai Pajakan Tanah - 4,843 7 5,118,494.65 HS(D) 16878 & 16879 Jalan Pandan Indah 4/2 3 1/2 tingkat/ (99 Years) Binaan 16,227 Mukim Ampang District Pandah Indah Pejabat cawangan Tamat: 2087 Ulu Langat 55100 Kuala Lumpur

Lot 1825, Block 10 Lot 1825, Block 10 Bungalow Pajakan Tanah - 7,606 4 257,599.97 Kuching Central Lorong Green 1 dua tingkat/ (60 Years) Binaan 2,500 Kuching Central Kediaman pengurus Tamat: 2038 cawangan

HS (D) 807& 808 No. 55 & 57, 2 unit rumah kedai Milik bebas Tanah - 4,779.2 14 1,786,975.20 PT 2592 & 2593 Taman Selat 4 tingkat/ Binaan 13,760 Daerah Seberang Jalan Bagan Luar Pejabat cawangan Perai Utara 12000 Butterworth Pulau Pinang

HS(D)624 & 625/1986 No. 1515, 1 unit rumah kedai Pajakan Tanah - 2,600 14 945,966.80 Lot 66 & 67, Sec. 5 Lorong Padi 4 tingkat/ (30 Years) Binaan 7,800 Daerah Kota Setar 85000 Alor Setar Pejabat cawangan Tamat: 2025 Kedah Kedah Darul Aman

HS(M)2926 & 2925 No. 10 & 12 2 unit rumah kedai Pajakan Tanah - 3,840 17 713,012.00 PT 21346 & 21345 Jalan Radin Tengah 3 tingkat/ (99 Years) Binaan 11,520 Lot 66 & 67, Sec. 5 Bandar Baru Seri Petaling Pejabat cawangan Tamat: 2078 Mukim Petaling Daerah 50770 Kuala Lumpur Wilayah Persekutuan

HS(D) 16521 & 16496 No. 20 & 22 2 unit rumah kedai Milik bebas Tanah - 3,230 16 1,564,955.50 PT8192/1367 & Jln 21/22, Sea Park 3 tingkat/ Binaan 9,750 PT 8912/1366 46730 Petaling Jaya Pejabat cawangan Mukim Kuala Lumpur Selangor Darul Ehsan Daerah Petaling

89 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

Town Lease: 107515432 No. TB 281, 282 & 283 3 unit rumah kedai Pajakan Tanah - 6,720 16 1,643,237.09 Town Lease: 107515441 Jalan Haji Karim 4 tingkat/ (999 Years) Binaan 13,440 Town Lease: 107515430 Town Extension 11 Pejabat cawangan Tamat: 2895 Mukim Tawau 91008 Tawau, Sabah

HS(D) 3659 & 3662 No. 93A & 93B 2 unit rumah kedai Milik bebas Tanah - 4,107 16 718,944.80 PT3227 & 3228 Jalan Rasah 3 tingkat/ Binaan 8,400 Daerah Seremban 70470 Seremban Pejabat cawangan Negeri Sembilan Darul Khusus

Lot 42262 Lot PT 42262 1 unit rumah kedai Milik bebas Tanah - 2,780 4 2,342,960.91 Mukim Klang Taman Bayu Perdana 4 tingkat/ Binaan 11,116 Daerah Klang Jalan Kem Chuan Klang Pejabat cawangan

HS(D) 51461 & 51462 Bandar Sri Majalara 2 unit rumah kedai Pajakan Tanah - 3,855 4 1,563,436.06 PT44519 & 44510 52100 Kepong Selangor 4 tingkat/ (49 Years) Binaan 12,435 Daerah W.P Pejabat cawangan Tamat: 2077 Mukim Batu

HS(D)4954 & 41955 Unit No.8 & 9 2 unit rumah kedai Milik bebas Tanah - 5,965 3 3,543,642.28 PT24178 & 24179 Taming Permai 3 tingkat/ Binaan 16,227 Mukim Cheras Business Park Pejabat cawangan Daerah Ulu Langat Jalan Balakong 43300 Selangor

Lots 175 & 176 Lots 175 & 176, 2 lot adjacent Milik bebas Tanah - 3,304 3 2,105,366.28 Grant 6787 Phase 2, Langkawi Mall Rumah kedai Binaan-9,912 Mukim Kuah Daerah 07000 Kuah Langkawi, 3 tingkat / Langkawi State of Kedah Kedah Pejabat cawangan

HS(D)193890 & No. 59 & 61 2 unit rumah kedai Milik bebas Tanah - 3,080 4 1,306,418.38 193891 PTD 55897 & Jalan Kebudayaan 4, 2 tingkat/ Binaan-6,160 55898 Mukim Kulai Taman Universiti Pejabat cawangan Daerah Johor Bahru 81300 Skudai Johor Darul Takzim

HS(D)25507 PTD 39218 No.27, Jalan Perwira 1 Rumah bunglow Milik bebas Tanah - 6,000 6 176,194.04 Mukim & Daerah Kluang Taman Titiwangsa 2 tingkat Kediaman Binaan 3,544 86000 Kluang pengurus cawangan Johor Darul Takzim

HS(D) 14862 & 14863 29 & 31, Jalan Tiara 3 2 unit rumah kedai Pajakan Tanah - 36,300 3 3,699,291.02 PT 21530 & 21351 Bandar Baru Kelang 4 tingkat/ (99 Years) Binaan-13,200 Tempat Bukit Raja Mukim 41150 Kelang Pejabat cawangan Tamat: 2093 Kampar Daerah Klang Selangor Darul Ehsan

90 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

Sub-Lot 13, Lot 13, Phase 1 1 unit rumah kedai Pajakan Tanah - 3,240 1 1,534,694.25 Lot3060 Daerah Bintulu Commerce Square 3 tingkat/ (60 Years) Binaan 9,720 Bintulu ParkCity, Pejabat cawangan 97000 Bintulu, Sarawak

PTD 62642 & 62643 No. 49 & 51 2 unit rumah kedai Pajakan Tanah - 5,468 3 2,070,024.74 HS(D)227069 & Jalan Sri Perkasa 2/1 3 tingkat/ (99 Years) Binaan-10,710 227070 Mukim Kulai Taman Tampoi Utama Pejabat cawangan Tamat: 2094 Daerah Johor Bahru 81200 Tampoi Johor Darul Takzim

PTD 17855 & 17856 No. 18 & 20 2 unit rumah kedai Milik bebas Tanah - 3,840 18 2,570,760.16 HS(D) 39845 & 39846 Jalan Serampang 3 tingkat/ Binaan 11,520 Mukim Plentong Daerah Taman Pelangi Pejabat cawangan Johor Bahru 80050 Johor Bahru

HS(D) 16728, PTD9887 No. 3 & 4 Jalan Merah 2 unit rumah kedai Milik bebas Tanah - 3,080 10 1,500,739.96 HS(D) 16729, PTD9888 Off Jalan Bukit Pasir 3 tingkat/ Binaan 16,227 Mukim Simpang Kanan Taman Bukit Pasir Pejabat cawangan Daerah Batu Pahat PH1 83000 Batu Pahat Johor Darul Takzim

Lots 436 & 437, Sec.13 No. 3788H & 3788I 2 unit rumah kedai Milik bebas Tanah - 3,200 15 1,826,722.71 Grant 12256 & 12257 Sec.13 3 tingkat/ Binaan 9,152 Daerah Kota Bahru Jalan Sultan Ibrahim Pejabat cawangan 15050 Kota Bahru Kelantan Darul Naim

PT 288 & 289 No.A2 Bangunan berdiri Milik bebas Tanah - 2,445 4 1,279,528.09 Mukim Seriap Daerah Taman Pangkalan Asam 4 tingkat/ Binaan 9,677 Pangkalan Asam 01000 Kangar Perlis Bakal pejabat cawangan

GM 92 & 96, GM 92 & 96, Tanah kosong Milik bebas 12.59 ekar – 16,600,000.00 Lot 1555 & 290 Lot 1555 & 290 Mukim 13, Mukim 13, Daerah Timur Laut, Daerah Timur Laut, Pulau Pinang Pulau Pinang (Lum Choon Realty Sdn Bhd)

HS(M) 5797/ 5798 No.840 & 842, Bangunan Pajakan Tanah - 6,670 2 3,097,008.20 PT 6/7 Sek, BT 4, Jalan Ipoh 4 1/2 tingkat (60 Years) Binaan 9,243 Mukim Batu 51200 Kuala Lumpur berbasement

Parcel No.C7/50/86-2 , No. 2 Jalan 1/27F Rumah 4 tingkat/ Pajakan Tanah - 4,480 2 4,097,521.51 C7/50/86-1, C7/50/86-4 KLSC Wangsa Maju unit tepi Binaan 14,920 & C7/50/86-3 53300 Kuala Lumpur Mukim Setapak Darerah & Wilayah Persekutuan

91 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

HS(D) 7156, 7157, No. 7 & 8 Jalan DR 1 2 unit rumah kedai Milik bebas Tanah - 3,509 4 2,231,110.39 7187 & 7188 Delima Point 5 tingkat/ Binaan 17,160 PT 34, 35, 65 & 66 Taman Delima Raya Pejabat cawangan Bandar Bt Baru, Sek.11, 75150 Melaka District Melaka Tengah

PT 141 & PT 142 No. 2/4, Rumah kedai Milik bebas Tanah - 3,930 2 2,255,776.41 Mukim 6 & Mukim 7 Jalan Perda Barat 4 tingkat Binaan 12,181 Seberang Perai 14000 Bukit Mertajam Tengah Penang Pulau Pinang

Lot 4/10, Phase 1c, No. 81, 83 & 85, 3 unit rumah kedai Pajakan Tanah - 4,950 5 1,522,654.01 Lot 4/9, lot 4/8, Jln 2/3A, 4 tingkat/ (99 tahun) Binaan 16,733 HS (D) 52850/PT 3 Sek, Pusat Pasar Borong KM, Pejabat cawangan Tamat: 2086 HS (D) 52989 & 5249, Jalan Ipoh PT 6621 & 2 Sek 1, 68100 Batu Caves, HS (D) 52988 PT 6620, Kuala Lumpur Mukim Batu District W.P

Lot 14127 & 14128 No. 159 & 161, 2 unit rumah kedai Pajakan Tanah - 4,306 12 3,083,758.56 Grants 7792 & 7793 Jalan Genting Kelang 3 tingkat/ (99 tahun) Binaan 17,224 Mukim Setapak 53300 Setapak Pejabat cawangan Tamat: 2086 Daerah Kuala Lumpur Kuala Lumpur

Geran 9836, Lot 607 No. 34, Jalan Lumut Rumah kedai Milik bebas Tanah - 1,539 20 1,440,000.04 Bandar Kuala Lumpur Kompleks Damai 4 1/2 tingkat Binaan 4,000 53000 Kuala Lumpur

Geran 26883 (CT 14640) No.27 & 29, 2 unit kembar Milik bebas Tanah - 3,507 20 1,166,400.00 26903 (ct 14641), Jalan Tun Razak rumah kedai Binaan-11,000 Lot 334 & 335, Sek 47, 53000 Kuala Lumpur 4 tingkat Kuala Lumpur

HS(D) 4004 PT 1851P, Ground & Pejabat 9 tingkat/ Milik bebas Tanah - 6,400 4 2,259,679.82 Bandar Kuala Terengganu Mezzanine Floor Bahagian kompleks Binaan 5,758 Lot 4146, Tingkat mezzanine Jalan Sultan Ismail Kuala Terengganu

Lot 1, Mukim Suite B.4, 5 unit lot pejabat Milik bebas Tanah- 9,064.36 2 3,081,513.10 Padang Cina, KHTP Business Centre, Bahagian kompleks Binaan 9,064 Daerah Kulim Kulim Hi-Tech Park, Tingkat bawah 09000 Kulim, Kedah

PTD 50679 & 50680 No. 93 & 94 2 unit rumah kedai Milik bebas Tanah - 4,607 1 1,465,213.70 Lot 840 & 842 Jalan Kenanga 4 tingkat/ Binaan 17,749 PT 6 & 7 Mukim Batu 29/7 Indahpura Pejabat cawangan Daerah Johor Baharu 81000 Johor Baharu Johor

92 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

HS(S) 36840 84 Jalan SS2/60 Bangunan Milik bebas Tanah - 1,680 19 449,386.00 Lot 25696 47300 Petaling Jaya 3 tingkat/ Binaan 5,040 Mukim Kuala Lumpur Selangor Darul Ehsan Pejabat cawangan

HS (D) 810, Lot 002595 61, Jalan Selat Bangunan Milik bebas Tanah - 1,841 16 595,662.00 Bandar Butterworth Taman Selat 4 tingkat/ Binaan 4,698 Daerah Seberang Perai 12000 Butterworth Pejabat cawangan Pulau Pinang

HS (D) 23625 PBT 8A, Jalan Tun Bangunan Milik bebas Tanah - 1,350 17 342,167.00 No. 8367 Abdul Razak, Susur 3 3 tingkat/ Binaan 4,698 Bandar Johor Bahru 80200 Johor Bahru Pejabat cawangan Johor Darul Takzim

Town Lease Lot. No.72, Block J Bangunan Pajakan Tanah - 1,150 12 678,476.00 No.017541276 Sadong Jaya Karamunsing 4 tingkat/ (999 Years) Binaan 4,726 Daerah Kota Kinabalu 80200 Kota Kinabalu Pejabat cawangan Tamat: 2902 Sabah

Town Lease Lot. No.1, Block B Bangunan Pajakan Tanah - 1,200 23 355,394.00 No.077527176 Bandar Ramai-Ramai 4 tingkat/ (999 Years) Binaan 4,608 Daerah Sandakan Mile 1, Jalan Leila Pejabat cawangan Tamat: 2885 90000 Sandakan, Sabah

Town Lease Lot. No.2, Block M Bangunan Pajakan Tanah - 1,200 23 494,746.02 No.107522485 Bandar Sabindo Mile 1, 4 tingkat/ (99 Years) Binaan 4,680 Daerah Tawau Jalan Leila Pejabat cawangan Tamat: 2071 91000 Tawau, Sabah

L14608/83 Lot 117, Section 12 Bangunan Pajakan Tanah - 1,400 18 382,014.00 Bandar Kuching Bangunan Ejawaris 4 tingkat/ (99 Years) Binaan 5,600 Jalan Haji Taha Pejabat cawangan Tamat: 2037 93400 Kuching, Sarawak

TL No.492 (1) Lot 516, Block 9 Bangunan Pajakan Tanah - 1,181 12 447,531.00 Daerah Miri Jalan Merbau 3 tingkat/ (60 Years) Binaan 3,540 98000 Miri, Sarawak Pejabat cawangan Tamat: 2048

TL No.1147 Lot 2307, 21, Bintulu Town Bangunan Pajakan Tanah - 1,300 12 509,633.00 Daerah Bandar Bintulu Extension Centre 4 tingkat/ (60 Years) Binaan 5,048 97000 Bintulu, Sarawak Pejabat cawangan Tamat: 2044

HS (D) 4519 Lot No. 118, Taman Melaka Raya Bangunan Pajakan Tanah - 1,600 18 260,781.38 PT 21 Daerah Melaka Jalan Taman 3 tingkat/ (99 Years) Binaan 4,500 Tengah Bandar Melaka 75000 Melaka Pejabat cawangan Tamat: 2076

93 BUTIR-BUTIR HARTANAH (SAMBUNGAN)

Nilai Keterangan/ Usia Bersih Kegunaan Tempoh Keluasan Bangunan Buku Hakmilik/ No. Lot Lokasi Semasa Pegangan (Kaki Persegi) (tahun) (RM)

ACF 200 & 201 200 & 201 2 unit rumah kedai Pajakan Tanah - 4,430 20 637,668.71 Taman Melaka Raya Taman Melaka Raya 3 tingkat/ Tamat: 2075 Binaan 10,031 Off Jalan Parameswara Off Jalan Parameswara Pejabat cawangan 75000 Melaka 75000 Melaka

21-B, Jalan Ibrahim 21-B, Jalan Ibrahim Bangunan Pajakan Tanah - 2,000 14 382,506.33 08000 Sungai Petani 08000 Sungai Petani 4 tingkat/ Tamat: 2080 Binaan 6,540 Kedah Kedah Pejabat cawangan

161 Jalan SS2/2 161 Jalan SS2/2 Bangunan Milik bebas Tanah - 2,268 20 958,227.35 447300 Petaling Jaya 447300 Petaling Jaya 3 tingkat/ Binaan 8,622 Selangor Selangor Pejabat cawangan

92 Jalan Banggol 92 Jalan Banggol Bangunan Milik bebas Tanah - 1,400 19 397,827.07 20100 Kuala Terengganu, 20100 Kuala Terengganu, 4 tingkat/ Binaan 5,480 Terengganu Terengganu Pejabat cawangan

21-21A Jalan Raja Jalil 21-21A Jalan Raja Jalil Rumah kedai Milik bebas Tanah - 1,999 14 166,416.72 45000 Kuala Selangor 45000 Kuala Selangor 2 tingkat/ Binaan 3,855 Pejabat cawangan

31 Jalan Tun Ismail 31 Jalan Tun Ismail Rumah kedai Milik bebas Tanah - 1,600 20 336,500.00 25000 Kuantan, Pahang 25000 Kuantan, Pahang 3 tingkat/ Binaan 6,120 Pejabat cawangan

157 Jalan Kota 157 Jalan Kota Rumah kedai Milik bebas Tanah - 1,700 24 317,666.71 34000 Taiping Perak 34000 Taiping Perak 3 tingkat/ Binaan 4,960 Pejabat cawangan

12 Jalan Kong Sang 12 Jalan Kong Sang Rumah kedai Milik bebas Tanah - 1,875 20 458,333.36 70000 Seremban 70000 Seremban 3 tingkat/ Binaan 4,703 Negeri Sembilan Negeri Sembilan Pejabat cawangan

100 Jalan Othman (1/14) 100 Jalan Othman (1/14) Rumah kedai Pajakan Tanah - 1,650 7 738,240.55 46000 Petaling Jaya 46000 Petaling Jaya 3 tingkat/ Tamat: 2089 Binaan 4,620 Selangor Selangor Pejabat cawangan

Lot 247 & 248 Lot 247 & 248 2 unit rumah kedai Pajakan Tanah - 2,500 12 753,357.43 Sec.49 KTLD Sec.49 KTLD Pejabat cawangan Tamat: 2044 Binaan 4,620 Jalan Tunku Jalan Tunku Abdul Rahman Abdul Rahman 93100 Kuching Sarawak 93100 Kuching Sarawak

Lot 14, Block B Lot 14, Block B Rumah kedai Pajakan Tanah - 1,200 5 592,965.38 Mdid 3679 Mdid 3679 3 tingkat/ Tamat: 2085 Binaan 3,600 Kompleks Komersial Kompleks Komersial Pejabat cawangan Metro Metro 91110 Lahad Datu Sabah 91110 Lahad Datu Sabah

94 PERANGKAAN PEGANGAN SAHAM Pada 30 April 2001

PEMEGANG SAHAM SAHAM BIASA BIASA DIPEGANG Saiz Pegangan Bilangan % Bilangan %

1 – 499 257 2.08 11,874 0.00 500 – 5,000 8,134 65.88 19,416,178 2.10 5,001 – 10,000 1,961 15.88 14,843,822 1.61 10,001 – 100,000 1,821 14.75 46,624,151 5.05 100,001 – 1,000,000 137 1.11 36,318,522 3.94 Lebih daripada 1,000,001 37 0.30 805,440,456 87.30

12,347 100.00 922,655,003 100.00

Setiap saham biasa layak untuk satu undi.

DUA PULUH PEMEGANG SAHAM TERBESAR Bil. Saham %

1. Lembaga Tabung Angkatan Tentera 378,948,995 41.07 2. Boustead Holdings Berhad 261,785,502 28.37 3. Employees Provident Fund Board 74,538,000 8.08 4. Permodalan Nasional Berhad 13,977,000 1.51 5. Lion Corporation Berhad 12,811,097 1.39 6. HSBC Nominees (Asing) Sdn Bhd BBH and Co Boston for GMO Emerging Markets Fund 4,491,500 0.49 7. HSBC Nominees (Tempatan) Sdn Bhd BOA (M) Bhd for Umatrac Enterprises Sdn Bhd 4,432,000 0.48 8. Universiti Malaya 4,188,000 0.45 9. AM Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board 3,856,000 0.42 10. Malaysia Nominees (Asing) Sendirian Berhad Straits Lion Asset Management Pte Ltd for the Great Eastern Life Assurance Co. Ltd 3,569,500 0.39 11. Amsteel Equity Nominees (Tempatan) Sdn Bhd Pacific Credit Leading Sdn Bhd for Umatrac Enterprises Sdn Bhd 3,241,000 0.35 12. RHB Nominees (Tempatan) Sdn Bhd Rashid Hussain Asset Management Sdn Bhd for Kumpulan Wang Simpanan Pekerja 3,000,000 0.33 13. Amsteel Corporation Berhad 2,959,280 0.32 14. Universal Trustee (Malaysia) Berhad BHLB Pacific Emerging Companies Growth Fund 2,886,000 0.31 15. Lion Land Berhad 2,291,885 0.25 16. AM Nominees (Tempatan) Sdn Bhd Pertubuhan Keselamatan Sosial 2,002,000 0.22 17. Citicorp Nominees (Asing) Sdn Bhd American International Assurance Company Limited (P Trading) 1,714,397 0.19 18. Perbadanan Nasional Berhad 1,641,500 0.18 19. Multi-Purpose Bank Nominees (Tempatan) Sdn Bhd Pheim Asset Management Sdn Bhd for Employees Provident Fund 1,630,000 0.18 20. Citicorp Nominees (Asing) Sdn Bhd CB LDN for Stitching Shell Pensioenfonds 1,578,000 0.17

JUMLAH 785,541,656 85.15

PEMEGANG SAHAM UTAMA

1. Lembaga Tabung Angkatan Tentera 378,948,995 41.07 2. Boustead Holdings Berhad 261,785,502 28.37 3. Employees Provident Fund Board 74,538,000 8.08

95 DIRECTORS’ REPORT

DIRECTORS’ REPORT

The directors have pleasure in submitting their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2000.

PRINCIPAL ACTIVITIES

The principal activity of the Company is investment holding. The principal activities of the Company’s subsidiary companies and associated company are set out in Notes 8 and 9 to the financial statements respectively. There have been no significant changes in the nature of these activities during the financial year.

FINANCIAL RESULTS Group Company RM’000 RM’000

Net (loss)/profit for the financial year before minority interests (122,467) 5,263 Minority interests 21,659 –

Net (loss)/profit for the financial year after minority interests (100,808) 5,263 Transfer from statutory reserve 18,421 – Retained profit brought forward 461,643 27,945

Profit available for appropriation 379,256 33,208 Dividends for 2000 (6,643) (6,643) Underprovision of dividends for 1999 (29) (29)

Retained profit carried forward 372,584 26,536

DIVIDENDS

The dividends paid or declared by the Company since 31 December 1999 were as follows:-

RM’000 In respect of the financial year ended 31 December 1999 as shown in the directors’ report for that financial year:

Final dividend of 1 sen gross per share, less 28% income tax, paid on 12 June 2000 4,168

The Directors now recommend the payment of a final dividend of 1 sen gross per share, less 28% income tax, amounting to RM6,643,116 in respect of the financial year ended 31 December 2000.

RESERVES AND PROVISIONS

There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements and notes to the financial statements.

96 DIRECTORS’ REPORT (CONTINUED)

ISSUE OF SHARES

During the financial year, the following ordinary shares of RM1 each were issued by the Company for cash and exchange of shares. Class Number of Date Terms of issue of shares Purpose shares ’000

Throughout At RM3.57 Ordinary Exercise of 3,992 the year per share Employees’ Share Option-Scheme 1

Throughout At RM3.75 Ordinary Exercise of warrants 1 the year per share

20 January 2000 At RM2.10 Ordinary Mandatory general 36,224 per share offer for the remaining ACF Holdings Berhad shares not held by the Company

8 July 2000 At RM2.10 Ordinary Rights issue 307,552 per share

347,769

The new ordinary shares rank pari passu in all respect with the existing ordinary shares.

DIRECTORS

The directors who have held office during the period since the date of the last report are:

Gen. (R) Tan Sri Dato’ Seri Ismail bin Omar Dato’ Lodin bin Wok Kamaruddin Raja Dato’ Aman bin Raja Haji Ahmad Maj. Gen. (R) Dato’ Mohamed Isa bin Che Kak En. Azzat bin Kamaludin Lt. Gen. (R) Dato' Seri Abdul Ghani bin Abdul Aziz (appointed on 1.3.2001)

In accordance with Article 101 of the Company’s Articles of Association, Maj. Gen. (R) Dato’ Mohamed Isa bin Che Kak retires at the forthcoming Annual General Meeting and being eligible, offers himself for re-election.

In accordance with Article 108 of the Company’s Articles of Association, Lt. Gen. (R) Dato' Seri Abdul Ghani bin Abdul Aziz retires at the forthcoming Annual General Meeting and being eligible, offers himself for re-election.

DIRECTORS’ BENEFITS

During and at the end of the financial year, no arrangements subsisted to which the Company or its subsidiary companies is a party, with the object or objects of enabling directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate except for the share options granted to Directors of the Company by Boustead Holdings Berhad and Lembaga Tabung Angkatan Tentera.

Since the end of the previous financial year, no director has received or become entitled to receive any benefit (other than directors’ remuneration as disclosed in note 27 to the financial statements) by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member, or with a company in which he has a substantial financial interest. 97 DIRECTORS’ REPORT (CONTINUED)

DIRECTORS’ INTERESTS

According to the register of directors’ shareholdings, the interest of directors in office at the end of the financial year in shares, warrants and options over shares in the Company and its related corporations are as follows:

Number of ordinary shares of RM1 each At Conversion At 1.1.2000 Bought (to)/from Sold 31.12.2000 The Company

Raja Dato’ Aman bin Raja Haji Ahmad 37,000 18,500 – – 55,500 Azzat bin Kamaludin 65,000 45,000 – – 110,000 Dato’ Lodin bin Wok Kamaruddin – – 5,714+ – 5,714 – 3,000 – – 3,000

Subsidiary companies

ACF Holdings Berhad

Dato’ Lodin bin Wok Kamaruddin 10,000 – (10,000)+ – –

+ Conversion of ACF Holdings Berhad shares into the Company’s shares arising from the mandatory general offer for the remaining ACF Holdings Berhad shares not held by the Company.

Number of ordinary shares of RM10 each; RM5 uncalled At At 1.1.2000 Bought Sold 31.12.2000 PAB Trustee Berhad

Raja Dato’ Aman bin Raja Haji Ahmad 20,000 – – 20,000*

* Shares held in trust for Affin Bank Berhad (formerly known as Perwira Affin Bank Berhad)

Number of warrants At At The Company 1.1.2000 Bought Sold 31.12.2000

Raja Dato’ Aman bin Raja Haji Ahmad 3,000 9,628 – 12,628 Azzat bin Kamaludin – 22,500 – 22,500 Maj. Gen. (R) Dato’ Mohamed Isa bin Che Kak 3,000 378 – 3,378 Dato’ Lodin bin Wok Kamaruddin – 1,500 – 1,500

Options over ordinary shares of RM1 each At At The Company 1.1.2000 Granted Exercised 31.12.2000

Raja Dato’ Aman bin Raja Haji Ahmad 9,500,000 – – 9,500,000**

** This is a five-year option granted by Lembaga Tabung Angkatan Tentera (‘LTAT’) to acquire 10,000,000 of the Company’s shares from LTAT at RM2.50 per share. This option will expire on 22 November 2003.

98 DIRECTORS’ REPORT (CONTINUED)

DIRECTORS’ INTERESTS (CONTINUED) Options over ordinary shares of 50 sen each At At Related company 1.1.2000 Granted Exercised 31.12.2000

Boustead Holdings Berhad

Dato’ Lodin bin Wok Kamaruddin 500,000 – – 500,000 # 9,500,000 – – 9,500,000##

# This option was granted by Boustead Holdings Berhad under its Employees’ Share Option Scheme at the option prices ranging from RM5.19 to RM5.55 per share and will expire on 13 June 2001.

## This is a five-year option granted by LTAT to acquire 9,500,000 Boustead Holdings Berhad shares from LTAT at RM3.50 per share. This option will expire on 22 November 2003.

Other than the above, the directors in office at the end of the financial year did not have any other interest in the shares, warrants and options over shares in the Company or its related companies during the financial year.

EMPLOYEES’ SHARE OPTION SCHEME

The Affin Holdings Berhad Employees’ Share Option Scheme 1 (‘ESOS 1’) was approved by the shareholders at the Extraordinary General Meeting held on 25 January 1995. The Employees’ Share Option Scheme 2 (‘ESOS 2’) was approved by the Board of Directors on 28 October 1996. The ESOS 1 and ESOS 2 had expired on 9 March 2000.

The main features of the ESOS 1 and ESOS 2 are as follows:

(a) Eligible employees are those who have been confirmed with at least twelve months of continuous service in the Group; or are full-time Executive Directors of the Company who are approved as eligible to participate in the Scheme.

(b) The total number of shares to be offered under the ESOS 1 and ESOS 2 (including the shares which had been issued to employees of the Company when the Company was listed on The Kuala Lumpur Stock Exchange in 1991) shall not exceed 10% of the issued and paid-up share capital of the Company at any time during the existence of the ESOS 1 and ESOS 2 which shall be in force for a period of five years from 10 March 1995 and three years and four months from 28 October 1996 respectively.

(c) The option price of each share shall be the average market quotation of the shares of the Company as stated in the Daily Official Listing issued by The Kuala Lumpur Stock Exchange for the five market days preceding the date of offer or the nominal value of the share, whichever is higher.

(d) No option shall be granted for less than 7,000 shares or more than 200,000 shares to any eligible employee.

(e) The number of shares under options and the option price so far as the options remain unexercised shall be adjusted in the event of any alteration in the issued share capital of the Company by way of capitalisation of profits or reserves or any sub-division and consolidation of shares made or otherwise.

(f) An option granted under the ESOS 1 and ESOS 2 shall be capable of being exercised by the grantee by notice in writing to the Company during the period commencing on the dates of offer and expiring on 9 March 2000. The option may be exercised in full or such lesser number of ordinary shares provided the number shall be in multiples of 1,000 shares. 99 DIRECTORS’ REPORT (CONTINUED)

EMPLOYEES’ SHARE OPTION SCHEME (CONTINUED)

(g) The shares under option shall remain unissued until the option is exercised and shall on issue and allotment rank pari passu in all respects with the then existing issued shares of the Company except that the shares so issued will not rank for any dividends or other distribution declared, made or paid to shareholders prior to the exercise of the option and will be subject to all the provisions of the Articles of Association relating to transfer, transmission and otherwise.

The employees to whom the options have been granted have no right to participate, by virtue of these options, in any share issue of any other company. As at the expiry date, the employees had exercised the options for 3,992,000 shares at RM3.57 per share.

The movements in the options to take up unissued new ordinary shares of RM1 each and the option prices at which the employees were entitled to exercise their options during the financial year until the options expired on 9 March 2000 were as follows:

Options over ordinary share of RM1 each At a At a price of price of RM 3.57 RM6.26 Total

At 1 January 2000 8,955,000 8,290,000 17,245,000 Exercised during the financial period 3,992,000 – 3,992,000

At 9 March 2000 12,947,000 8,290,000 21,237,000

STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS

Before the income statement and balance sheets of the Group and the Company were made out, the directors took reasonable steps:

(a) to ascertain that action had been taken in relation to the writing off of bad debts and financing and the making of provisions for doubtful debts and financing and satisfied themselves that all known bad debts had been written off and that adequate provision had been made for doubtful debts and financing; and

(b) to ensure that any current assets, other than debts, which were unlikely to realise in the ordinary course of business, their value as shown in the accounting records of the Group and the Company, have been written down to an amount which they might be expected so to realise.

At the date of this report, the directors are not aware of any circumstances:

(a) which would render the amounts written off for bad debts and financing or the amount of the provision for doubtful debts in the financial statements of the Group and the Company inadequate to any substantial extent; or

(b) which would render the values attributed to current assets in the financial statements of the Group and the Company misleading; or

(c) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and the Company misleading or inappropriate.

100 DIRECTORS’ REPORT (CONTINUED)

STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS (CONTINUED)

At the date of this report, there does not exist:

(a) any charge on the assets of the Group and the Company which has arisen since the end of the financial year which secures the liability of any other person; or

(b) any contingent liability of the Group and the Company which has arisen since the end of the financial year.

No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which, in the opinion of the directors, will or may substantially affect the ability of the Group or the Company to meet their obligations when they fall due.

At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or the financial statements which would render any amount stated in the financial statements misleading.

In the opinion of the directors,

(a) the results of the Group’s and the Company’s operations during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature; and

(b) there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely to substantially affect the results of the operations of the Group or the Company for the financial year in which this report is made.

SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR

Significant events during the financial year are disclosed in Note 41 to the financial statements.

ULTIMATE HOLDING CORPORATE BODY

The directors regard Lembaga Tabung Angkatan Tentera, a corporate body established under the Tabung Angkatan Tentera Act, 1973, as the ultimate holding corporate body of the Company.

AUDITORS

The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in office.

In accordance with a resolution of the Board of Directors dated 23 April 2001

DATO’ LODIN BIN WOK KAMARUDDIN AZZAT BIN KAMALUDIN Director Director

Kuala Lumpur

101 BALANCE SHEETS 31 DECEMBER 2000

GROUP COMPANY Note 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

ASSETS

Cash and short term funds 2 2,091,160 2,137,118 330,499 16,968 Securities purchased under resale agreements – 41,880 – – Deposits and placements with financial institutions 3 891,043 700,712 30,249 3,272 Dealing securities 4 63,066 365,097 – – Investment securities 5 6,013,609 4,759,143 – 4,000 Loans, advances and financing 6 13,657,993 14,406,078 – – Statutory deposits with Bank Negara Malaysia 7 606,679 626,226 – – Subsidiary companies 8 – – 2,141,600 2,055,042 Associated company 9 37,563 43,077 6,597 10,197 Trade debtors 10 45,299 34,495 – – Other assets 11 284,660 400,458 2,364 1,486 Taxation recoverable 20,934 47,772 18,575 47,772 Deferred taxation benefit 12 – 1,460 – – Deferred expenses 368 9,050 368 629 Goodwill on consolidation 607,915 602,991 – – Fixed assets 13 336,076 323,527 3 5

TOTAL ASSETS 24,656,365 24,499,084 2,530,255 2,139,371

LIABILITIES, SHAREHOLDERS’ EQUITY AND MINORITY INTERESTS

Deposits from customers 14 15,904,826 16,057,790 – – Deposits and placements of banks and other financial institutions 15 3,658,503 3,566,303 – – Obligation on securities sold under repurchase agreements 166,425 182,878 – – Bills and acceptances payable 717,657 783,216 – – Trade creditors 16 37,989 32,241 – – Other liabilities 17 568,121 501,851 11,235 16,921 Taxation 47,233 42,345 17,858 29,906 Deferred taxation 18 12,421 12,421 – – Short term borrowing 19 50,651 550,090 – 500,090 Long term liabilities 20 685,075 497,250 670,000 495,000

TOTAL LIABILITIES 21,848,901 22,226,385 699,093 1,041,917

102 BALANCE SHEETS (CONTINUED) 31 DECEMBER 2000

GROUP COMPANY Note 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

LIABILITIES, SHAREHOLDERS’ EQUITY AND MINORITY INTERESTS (CONTINUED)

Share capital 21 922,656 574,887 922,656 574,887 Share premium 880,970 493,622 880,970 493,622 Reserves 22 772,809 880,341 27,536 28,945

SHAREHOLDERS’ EQUITY 2,576,435 1,948,850 1,831,162 1,097,454

MINORITY INTERESTS 231,029 323,849 – –

TOTAL LIABILITIES, SHAREHOLDERS’ EQUITY AND MINORITY INTERESTS 24,656,365 24,499,084 2,530,255 2,139,371

COMMITMENTS AND CONTINGENCIES 38(c) 16,239,358 10,594,176 – –

The accounting policies on pages 113 to 117 and the notes on pages 118 to 151 form an integral part of these financial statements.

103 INCOME STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Interest Income 23 1,368,942 1,283,030 22,007 15,449 Interest expenses 24 (615,509) (772,381) – –

Net interest income 753,433 510,649 22,007 15,449 Islamic Banking income 25 32,143 32,577 – –

785,576 543,226 22,007 15,449 Non–interest income 26 226,835 225,275 28,626 66,765

1,012,411 768,501 50,633 82,214 Overhead expenses 27 (449,909) (328,373) (5,832) (8,639)

Operating profit before loan and financing loss and provision 562,502 440,128 44,801 73,575 Loan and financing loss and provision 28 (604,796) (254,429) – –

Operating (loss)/profit (42,294) 185,699 44,801 73,575 Finance cost 29 (53,607) (55,018) (48,912) (50,290) Share in (loss)/profit of an associated company (462) 13,640 – –

(Loss)/profit before exceptional item (96,363) 144,321 (4,111) 23,285 Exceptional item 30 – – – 2,260

(Loss)/profit before taxation and zakat (96,363) 144,321 (4,111) 25,545 Zakat (642) (501) – – Taxation 31 (24,062) (2,387) 9,374 (15,644) Share of tax of associated company (1,400) 2,084 – –

Net (loss)/profit for the financial year before minority interests (122,467) 143,517 5,263 9,901 Minority interests 21,659 (8,604) – –

Net (loss)/profit for the financial year after minority interests (100,808) 134,913 5,263 9,901

(Loss)/Earnings per share (sen) 33 - Basic (14.2) 22.4 - Fully diluted – –

Dividends per ordinary share 1 sen (1999: 1 sen) gross per share, less tax of 28% 32 0.7 0.7

The accounting policies on pages 113 to 117 and the notes on pages 118 to 151 form an integral part of these financial statements.

104 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

105 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

106 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

107 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

108 CASH FLOW STATEMENT OF THE GROUP FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

2000 1999 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES

(Loss)/profit before taxation and zakat (96,363) 144,321

Adjustments for items not involving the movement of cash and cash equivalents:

Gain on disposal of dealing securities (11,019 ) (940) Gain on disposal of investment securities (11,769) (23,758) Accretion of discount less amortisation of premium (61,494) (50,303) Write-back of provision for diminution in value of dealing securities – (477) Provision for diminution in value of investment securities 62,820 8,200 Provision for bad and doubtful debts and financing and interest-in-suspense 493,109 195,891 Provision for bad and doubtful debt - other debtors 12,639 – Provision on amounts recoverable from Danaharta 31,196 29,701 Provision for retirement benefits 3,756 2,040 Bad debts written-off 24,560 27,695 Gain on disposal of fixed assets (337) (146) Amortisation of deferred expenses 261 2,887 Fixed assets written-off 77 13 Depreciation on fixed assets 56,967 33,583 Share of associated company loss/(profit) 462 (13,640)

OPERATING PROFIT BEFORE CHANGES IN WORKING CAPITAL 504,865 355,067

INCREASE/DECREASE IN OPERATING ACTIVITIES Decrease in loans, advances and financing 230,416 225,808 Decrease/(increase) in other assets 100,261 (89,403) Decrease in statutory deposits with Bank Negara Malaysia 19,547 13,533 Decrease/(increase)in dealing securities 313,050 (291,756) Increase in deposits and placements with financial institutions (202,145) (222,377) Decrease in deferred expenses 8,421 – Decrease in deposits from customers (152,964) (32,268) Increase/(decrease) in other creditors 72,972 (50,510) Increase/(decrease) in deposits and placements of banks and other financial institutions 92,200 (422,344) Decrease in obligation on securities sold under repurchase agreements (16,453) (63,042) (Decrease)/increase in bills and acceptances payable (65,559) 158,628 Decrease in securities purchased under resale agreements 41,880 23,120 Increase in trade debtors (10,804) (34,495) Increase in trade creditors 5,748 32,241

Cash generated from/(utilised in) operations 941,435 (397,798) Taxation and zakat paid (19,816) (55,135)

NET CASH GENERATED FROM/(UTILISED IN) OPERATING ACITIVITES 921,619 (452,933)

109 CASH FLOW STATEMENT OF THE GROUP (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

Note 2000 1999 RM’000 RM’000 CASH FLOWS FROM INVESTING ACTIVITIES

Net (acquisition)/disposal of investment securities (1,244,023) 735,415 Proceeds from disposal of fixed assets 718 415 Purchase of fixed assets (69,974) (109,463) Dividend received from associated company 3,600 720 Net cashflow on acquisition of subsidiary company 34 – 284,614 Net cashflow on disposal of subsidiary company 35 – (5,903) Payment for shares in a subsidiary company in respect of mandatory general offer (14) –

NET CASH (UTILISED IN)/GENERATED FROM INVESTING ACTIVITIES (1,309,693) 905,798

CASH FLOWS FROM FINANCING ACTIVITIES

Increase in long term liabilities 187,825 – Decrease in bank loans (499,439) (975) Dividend paid (4,168) (4,134) Proceeds from issue of share capital 660,114 407 Share issue expenses (1,067) –

NET CASH GENERATED FROM/(UTILISED IN) FINANCING ACTIVITIES 343,265 (4,702)

NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (44,809) 448,163

CASH AND CASH EQUIVALENTS AT BEGINNING OF FINANCIAL YEAR 2,134,981 1,686,818

CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR 37 2,090,172 2,134,981

The accounting policies on pages 113 to 117 and the notes on pages 118 to 151 form an integral part of these financial statements.

110 CASH FLOW STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

Note 2000 1999 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES

(Loss)/profit before taxation and zakat (4,111) 25,545

Adjustments for items not involving the movement of cash and cash equivalents:

Amortisation of deferred expenses 261 698 Depreciation of fixed assets 2 1 Gain on disposal of a subsidiary company – (2,260)

OPERATING (LOSS)/PROFIT BEFORE CHANGES IN WORKING CAPITAL (3,848) 23,984

INCREASE/DECREASE IN OPERATING ACTIVITIES

Increase in other assets (877) (3,520) Decrease in other creditors (8,191) (1,430) (Increase)/decrease in deposits and placements with financial institutions (26,977) 859

Cash (utilised in)/generated from operations (39,893) 19,893

Taxation recovered/(paid) 26,523 (18,551)

NET CASH (UTILISED IN)/GENERATED FROM OPERATING ACTIVITIES (13,370) 1,342

CASH FLOWS FROM INVESTING ACTIVITIES

Net disposal/(acquisition) of investment securities 4,000 (4,000) Purchase of fixed assets – (2) Dividend received from associated company 3,600 720 Payment for shares in a subsidiary company in respect of mandatory general offer (14) – Net movement in amount due from subsidiary company (1,474) (17,230) Investment in subsidiary companies (9,000) (1,000)

NET CASH UTILISED IN INVESTING ACTIVITIES (2,888) (21,512)

111 CASH FLOW STATEMENT OF THE COMPANY (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

Note 2000 1999 RM’000 RM’000

CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in long term liabilities (255,000) – Decrease in bank loans (70,090) – Dividend paid (4,168) (4,134) Proceeds from issue of share capital 660,114 407 Share issue expenses (1,067) –

NET CASH GENERATED FROM/(UTILISED IN) FINANCING ACTIVITIES 329,789 (3,727)

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 313,531 (23,897)

CASH AND CASH EQUIVALENTS AT BEGINNING OF FINANCIAL YEAR 16,968 40,865

CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR 37 330,499 16,968

The accounting policies on pages 113 to 117 and the notes on pages 118 to 151 form an integral part of these financial statements.

112 SUMMARY OF SIGNIFICANT GROUP ACCOUNTING POLICIES FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements.

A BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS

The financial statements of the Group and of the Company have been prepared under the historical cost convention in accordance with the applicable approved accounting standards in Malaysia, Bank Negara Malaysia Guidelines and the provisions of the Companies Act, 1965.

The financial statements incorporate those activities relating to Islamic Banking which have been undertaken by the Group. Islamic Banking refers generally to the acceptance of deposits and granting of financing under the Syariah principles.

B BASIS OF CONSOLIDATION

The consolidated financial statements include the financial statements of the Company and its subsidiary companies made up to the end of the financial year. Intercompany transactions are eliminated on consolidation and the consolidated financial statements reflect external transactions only. Separate disclosure is made of minority interests. Subsidiary companies are consolidated using the acquisition method of accounting or the merger method of accounting.

Under the acquisition method of accounting, the results of the subsidiary companies acquired or disposed of during the year are included from the date of acquisition up to the date of disposal. At the date of acquisition, the fair values of the subsidiary companies’ net assets are determined and these values are reflected in the consolidated financial statements. The difference between the acquisition cost and the fair values of the subsidiary companies’ net assets is reflected as goodwill on consolidation.

Under the merger method of accounting, the results of the subsidiary companies are presented as if the merger had been effected throughout the current and previous financial years. On consolidation, the difference between the carrying value of the investment over the nominal value of shares acquired is taken to merger reserve.

C GOODWILL/CAPITAL RESERVE ARISING ON CONSOLIDATION

Goodwill arising on consolidation represents the excess of the purchase price over the fair value of the net assets of subsidiaries at the date of acquisition. The amount is retained in the consolidated balance sheet and write-downs are made only when the directors are of the opinion that there is a permanent diminution in value.

Capital reserve on consolidation represents the excess of the fair value of the net assets of subsidiaries over the purchase price. The amount is retained in the consolidated balance sheet and is not distributable until the disposal of the subsidiaries.

D SUBSIDIARY COMPANIES

The Company treats as subsidiary companies, those companies in which the Company controls the composition of its Board of Directors or more than half of its voting power, or holds more than half of its issued ordinary share capital.

Investment in subsidiary companies are stated at cost or directors’ valuation, less provision for permanent diminution in value.

113 SUMMARY OF SIGNIFICANT GROUP ACCOUNTING POLICIES (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

E ASSOCIATED COMPANIES

Investment in associated companies are stated at cost or directors’ valuation, less provision for permanent diminution in value.

The Group treats as associated companies those companies in which a long term equity interest between 20% and 50% is held and where the Group is in a position to exercise significant influence through management participation.

The Group equity accounts for its share of the post-acquisition results and reserves of associated companies based on the latest audited or management financial statements of the companies concerned.

F INCOME RECOGNITION

(i) Interest income is recognised on an accrual basis. Income on hire-purchase, block discounting and leasing transactions are recognised on the sum of digits method. Interest on housing and other loans are calculated on an annual or monthly rest basis over the period of the loan. Where an account is classified as non-performing, recognition of interest income is suspended until it is realised on a cash basis. Customers’ financial statements are generally classified as non-performing where repayments are in arrears for six months or more from the first day of default for loans and overdrafts, and after three months from the first day of default for trade bills, banker’s acceptances and trust receipts.

The Group’s policy on suspension of interest is in confirmity with Bank Negara Malaysia’s ‘Guidelines on the Classification of Non-Performing Loans and Provision for Sub-standard, Bad and Doubtful Debts’.

(ii) Income from Islamic Banking business is recognised on an accruals basis in accordance with the principles of Syariah.

(iii) Loan arrangement fees and commissions are recognised as income when all conditions precedent are fulfilled.

(iv) Portfolio management, commitment fees, guarantee fees, agency fees and commissions are recognised as income on a time apportionment basis.

(v) Brokerage income is recognised on execution of contract. Interest income, underwriting fee and other fee income are recognised on accrual basis. Where debtors are classified as doubtful or bad, interest income is suspended as laid down in the Rules of the Kuala Lumpur Stock Exchange.

(vi) Dividends from dealing securities are recognised when received. Dividends from investment securities are recognised when declared.

(vii) Dividends from subsidiary and associated companies are included in the income statement when the shareholders’s right to receive payment is established.

G PROVISION FOR BAD AND DOUBTFUL DEBTS AND FINANCING

Specific provisions are made for doubtful debts and financing which have been individually reviewed and specifically identified as bad, doubtful or substandard. A general provision based on a percentage of the loan and financing portfolio is also made to cover possible losses which are not specifically identified.

An uncollectible loan and financing or portion of a loan and financing classified as bad is written off after taking into consideration the realisable value of collateral, if any, when in the judgement of the management, there is no prospect of recovery. 114 SUMMARY OF SIGNIFICANT GROUP ACCOUNTING POLICIES (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

G PROVISION FOR BAD AND DOUBTFUL DEBTS AND FINANCING (CONTINUED)

The Group’s provision for bad and doubtful debts and financing is in conformity with the minimum requirements of Bank Negara Malaysia’s ‘Guidelines on the Classification of Non-Performing Loans and Provision for Sub- standard, Bad and Doubtful Debts’ as well as the requirements for provision for bad and doubtful debts as laid down in the Rules of the Kuala Lumpur Stock Exchange.

H REPURCHASE AGREEMENTS

Securities purchased under resale agreements are securities which was purchased with a commitment to resell at future dates. The commitment to resell the securities is reflected as an asset on the balance sheet.

Conversely, obligation on securities sold under repurchase agreements are securities which have been sold from its portfolio, with a commitment to repurchase at future dates. Such financing transactions and the obligation to re-purchase the securities are reflected as a liability on the balance sheet.

I DEALING SECURITIES

Dealing securities are marketable securities that are acquired and held with the intention of resale in the short term, and are stated at the lower of cost and market value.

Transfer, if any, between dealing and investment securities are made at the lower of cost and market value.

J INVESTMENT SECURITIES

Investment securities are securities that are acquired and held for yield or capital growth or to meet minimum liquid assets requirement pursuant to Section 38 of the Banking and Financial Institutions Act, 1989, and are usually held to maturity.

Malaysian Government Securities, Malaysian Government Investment Certificates, Cagamas bonds, other Government securities, Bank Guaranteed and Bank Negara Malaysia exempted Private Debt Securities held for investment are stated at cost adjusted for amortisation of premium or accretion of discount to maturity date. Other private debt securities are valued at lower of cost and market value. Other investment securities are stated at cost and provision is made in the event of any permanent diminution in value.

Transfers, if any, between investment and dealing securities are made at the lower of cost and market value.

K FIXED ASSETS AND DEPRECIATION

Fixed assets are stated at cost less accumulated depreciation.

Freehold land and capital work-in-progress are not amortised. Leasehold land is amortised over the respective periods of the leases. All other fixed assets are depreciated on a straight line basis calculated to write off each asset over the term of its estimated useful life at the following annual rates:

Buildings on freehold land 2% Leasehold land and buildings Amortised over the period of the lease Renovations 10% - 20% or over the period of the lease whichever is greater Furniture and equipment 10% - 20% Computer equipment and software 10% - 25% Motor vehicles 20% 115 SUMMARY OF SIGNIFICANT GROUP ACCOUNTING POLICIES (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

L ASSETS PURCHASED UNDER LEASE

Finance lease

Assets under lease which in substance transfer the risks and benefits of ownership of the assets to the Group are capitalised under fixed assets. The asset and corresponding lease obligations are recorded at the lower of present value of the minimum lease payments or the fair value of the leased assets at the beginning of the lease terms. Such leased assets are subject to depreciation consistent with that for depreciable assets which are owned.

Operating leases

Leases of assets under which all the risks and benefits of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement.

When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expense in the period in which termination takes place.

M ASSETS SOLD UNDER LEASE

Finance leases

When assets are sold under a finance lease, the present value of the lease payment is recognised as a debtor. The difference between the gross debtor and the present value of the debtor is recognised as unearned finance income. Lease income is recognised over the term of the lease using the sum of digits method.

N DEFERRED TAXATION

Provision is made using the liability method for taxation deferred in respect of all material timing differences between accounting and taxable profits, except that where such differences are not expected to reverse in the foreseeable future.

O CURRENCY TRANSLATION

Foreign currency assets and liabilities are stated in the balance sheet at spot rates of exchange which closely approximate to those ruling at the balance sheet date. Income statement items are converted at rates prevailing on transaction dates. Exchange gains and losses are recognised in the income statement in the year they arise.

The principal average closing rates used in translation of foreign currency amounts were as follows:

Foreign currency 2000 1999 RM RM

1 US Dollar 3.80 3.80 1 Great Britain Pound 5.70 6.20

P FORWARD EXCHANGE CONTRACTS

Unmatured forward exchange contracts are valued at forward rates as at the balance sheet date, applicable to their respective dates of maturity and unrealised losses and gains are recognised in the income statement for the financial year.

116 SUMMARY OF SIGNIFICANT GROUP ACCOUNTING POLICIES (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000

Q STAFF RETIREMENT BENEFITS

The commercial bank sub-group operates a retirement benefits scheme for senior executives, executives and confidential secretaries based on defined benefit plan. The assets of the scheme are held separately from the sub-group in an independently administered fund. Contributions to the scheme are charged to the income statement so as to spread the cost of the scheme over the employee’s working lives in the sub- group. The contributions are determined by external actuaries on the basis of triennial valuations using the accrued benefit method.

Provision for retirement benefits is made for eligible employees of the finance company sub-group who have completed at least ten (10) years of service based on their emoluments and the length of their service.

R BILLS AND ACCEPTANCES PAYABLE

Bills and acceptances payable represent bills and acceptances rediscounted and outstanding in the market.

S DEFERRED EXPENSES

Deferred expenses of the Company comprises bond issue expenses which are amortised annually to the income statement over the life of the bond. In prior years, included in deferred expenses of the Group were preliminary and pre-operating expenses which were amortised over five years. These have been fully written- off during the current year.

T AMOUNTS RECOVERABLE FROM DANAHARTA

The total consideration from loans sold to Pengurusan Danaharta Nasional Berhad (‘Danaharta’) is received in two portions; upon the sale of the loans (‘initial consideration’) and upon the recovery of the loans (‘final consideration’). The final consideration amount represents the banking subsidiaries’ predetermined share of the surplus over the initial consideration upon recovery of the loans.

The difference between the carrying value of the loans and the initial consideration is recognised as ‘Amounts Recoverable from Danaharta’ within the ‘Other Assets’ component of the balance sheet. Provisions against these amounts are made in accordance with Bank Negara Malaysia’s ‘Guidelines in the Sale of Non-performing Loans to Pengurusan Danaharta Nasional Berhad’ issued on 30 April 2000 to reflect the assessment of the directors of the banking subsidiaries of the realisable value of the final consideration as at the balance sheet date.

U DERIVATIVE FINANCIAL INSTRUMENTS

Transactions are undertaken in derivative financial instruments (‘derivatives’) which include interest rate swaps, futures and similar instruments for trading and non-trading purposes. Derivatives that are classified as non- trading are held for purpose of hedging exposures relating to the commercial bank subsidiary company’s Asset and Liability Management.

Gains and losses arising from specific hedging transactions are released to the income statement over the same year as the income or expense generated by the underlying transactions. Where a transaction originally entered into as a hedge no longer represents a hedge, its value is restated and any change in value is taken to the income statement.

Gains and losses on instruments purchased or sold for trading purposes are taken to the income statement. Any such transactions outstanding as at the balance sheet date are stated at market value.

V CASH AND CASH EQUIVALENTS

Cash and cash equivalents consist of cash and bank balances and short term deposits, that are readily convertible to known amount of cash and which are subject to an insignificant risk of changes in value.

117 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2000

1 GENERAL INFORMATION

The number of employees in the Group and the Company as at 31 December 2000 amounted to 4,935 (1999: 4,591) and 3 (1999: 3) employees respectively.

The directors regard Lembaga Tabung Angkatan Tentera, a corporate body established under the Tabung Angkatan Tentera Act, 1973, as the holding and ultimate holding corporate body of the Company.

The Company is a public limited liability company, incorporated and domiciled in Malaysia, and listed in the Main Board of the Kuala Lumpur Stock Exchange.

2 CASH AND SHORT TERM FUNDS GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Cash and bank balances with banks and other financial institutions 281,503 615,459 90 64 Money at call and deposits placements maturing within one month 1,809,657 1,521,659 330,409 16,904

2,091,160 2,137,118 330,499 16,968

Included in cash and bank balances of the Group are trust accounts maintained by a subsidiary company for clients and remisiers totalling RM987,859 (1999: RM2,137,321).

3 DEPOSITS AND PLACEMENTS WITH FINANCIAL INSTITUTIONS

GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Licensed banks 246,948 172,859 – – Licensed finance companies 342,998 140,807 30,249 – Other financial institutions 301,097 387,046 – 3,272

891,043 700,712 30,249 3,272

Included in deposits and placements with financial institutions of the Group are trust accounts maintained by a subsidiary company for clients and remisiers totalling RM9,714,891 (1999: RM21,529,052).

118 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

4 DEALING SECURITIES GROUP 2000 1999 RM’000 RM’000 Money market instruments:

Quoted

Malaysian Government Securities 38,960 196,361 Private debt securities 3,775 3,775

Unquoted

Danamodal bonds 17,391 131,541 Bankers’ acceptances – 32,180

60,126 363,857 Quoted securities:

In Malaysia

Shares 701 295 Unit Trusts 1,294 –

Unquoted securities:

In Malaysia

Private debt securities 945 945

Total dealing securities 63,066 365,097

Market value of quoted money market instruments and quoted securities:

Malaysian Government Securities 39,127 198,732 Private debt securities 4,475 4,400 Quoted shares in Malaysia 730 305 Unit Trusts 1,225 –

119 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

5 INVESTMENT SECURITIES GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Money market instruments:

Quoted

Malaysian Government Securities 482,086 778,456 – – Malaysian Government Investment Certificate 885,687 213,700 – – Cagamas bonds 444,903 326,423 – – Cagamas Mudharabah bonds – 2,000 – –

Unquoted

Malaysian Government Treasury Bills 49,654 – – – Bank Negara Malaysia Bills 299,335 – – – Cagamas notes – 84,417 – – Negotiable certificates of deposits 377,000 420,000 – – Private debt securities 113,547 69,561 – – Bankers’ acceptances 34,408 139,298 – – Khazanah bonds – 7,837 – – Interest free banking scheme securities - Negotiable Islamic Debt Certificate 97,515 19,850 – – - Bankers’ acceptances 670,505 652,801 – – - Capital fund – 14,907 – – - Private debt securities 226,655 163,245 – – - Khazanah bonds – 15,395 – – - Islamic Corporate Notes 50,000 12,259 – – Danamodal bonds 251,298 – Danaharta bonds 320,916 288,577 – –

4,303,509 3,208,726 – – Quoted securities:

In Malaysia

Shares 42,758 10,355 – – Private debt securities 62,263 34,738 – – Loan stocks 90,861 – – –

Unquoted securities:

In Malaysia

Shares 55,460 53,272 – – Private debt securities 1,491,036 1,428,027 – 3,995

120 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

5 INVESTMENT SECURITIES (CONTINUED) GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Unquoted securities (continued):

Outside Malaysia

Private debt securities 41,800 11,400 – –

6,087,687 4,746,518 – 3,995

Accretion of discount less amortisation of premium on securities and bonds 75,185 45,972 – 5 Accretion of discount less amortisation of premium on Islamic securities 4,969 1,690 – –

Sub total 6,167,841 4,794,180 – 4,000

Less: Provision for diminution in value of private debt securities (144,363) (32,465) – – Provision for diminution in value of unquoted securities (9,869) (2,572) – –

Total investment securities 6,013,609 4,759,143 – 4,000

Market value of quoted money market instruments and quoted securities:

Malaysian Government Securities 489,441 784,085 – – Malaysian Government Investment Certificate 893,135 218,914 – – Cagamas bonds 448,376 329,320 – – Cagamas Mudharabah bonds – 2,000 – – Shares 30,621 7,252 – – Private debt securities 121,620 28,867 – – Loan stocks 90,861 – – –

121 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

5 INVESTMENT SECURITIES (CONTINUED) GROUP 2000 1999 RM’000 RM’000

The maturity structure of money market instruments held for investment:

Maturing within one year 2,935,190 1,489,060 One year to three years 734,287 683,151 Three years to five years 553,617 697,230 Over five years 80,415 339,285

4,303,509 3,208,726

6 LOANS, ADVANCES AND FINANCING GROUP 2000 1999 RM’000 RM’000

Overdrafts 2,220,687 2,093,697 Term loans 6,798,007 6,478,952 Revolving credit 1,414,666 1,455,725 Bills receivables 104,167 507,574 Trust receipts 366,203 321,267 Hire purchases 3,398,661 2,908,277 Lease receivables 20,319 28,629 Block discounting 21,720 43,798 Housing loans 116,344 1,310,808 Staff loans (none to directors) 137,562 136,315 Claims on customers under acceptance credits 969,849 925,173 Islamic banking scheme 138,022 119,798

15,706,207 16,330,013 Unearned interest (671,566) (502,097)

Gross loans, advances and financing 15,034,641 15,827,916

Provision for doubtful debts and financing: - Specific (610,354) (698,775) - General (306,761) (240,536) Interest/income-in-suspense (459,533) (482,527)

(1,376,648) (1,421,838)

Total net loans, advances and financing 13,657,993 14,406,078

122 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

6 LOANS, ADVANCES AND FINANCING (CONTINUED)

(i) The maturity structure of loans, advances and financing are as follows:

GROUP 2000 1999 RM’000 RM’000

Maturing within one year 5,380,324 5,354,960 One year to three years 6,511,516 6,637,434 Three years to five years 1,215,121 1,683,031 Over five years 1,927,680 2,152,491

15,034,641 15,827,916

(ii) Loans, advances and financing analysed by their economic purposes are as follows:

GROUP 2000 1999 RM’000 RM’000

Agriculture 222,843 374,511 Mining and quarrying 88,373 26,054 Manufacturing 1,990,898 2,479,342 Electricity, gas and water 176,222 340,242 Construction 2,066,868 1,847,741 Real estate 725,173 537,133 Purchase of landed property of which: - Residential 956,803 995,802 - Non-residential 1,083,857 1,407,771 General commerce 1,413,406 1,221,993 Transport, storage and communication 985,919 1,118,465 Finance, insurance and business services 836,688 1,240,373 Purchase of securities 908,950 1,153,157 Purchase of transport vehicles 2,173,358 1,683,961 Consumption credit 574,205 477,160 Others 831,078 924,211

15,034,641 15,827,916

123 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

6 LOANS, ADVANCES AND FINANCING (CONTINUED)

(iii) Movements in the non-performing loans and financing (including interest and income receivable) are as follows: GROUP 2000 1999 RM’000 RM’000

Balance at 1 January 3,202,341 2,455,380 Arising from acquisition of a subsidiary company – 447,622 Disposal of a subsidiary company – (9,226) Non performing during the financial year (gross) 1,872,712 1,988,620 Amount sold to Danaharta (55,044) (458,060) Recoveries (514,180) (778,261) Amount written off (650,921) (443,734) Reclassified as performing (1,042,914) – Transfer in respect of debt conversion (231,939) –

Gross non-performing loans 2,580,055 3,202,341 Specific provision and interest-in-suspense (1,034,747) (1,181,302)

Net non-performing loans at 31 December 1,545,308 2,021,039

(as % of total net loans, advances and financing) 10.66 13.32

(iv) Movement in the provision for bad and doubtful debts and financing and interest/income-in-suspense are as follows: GROUP 2000 1999 RM’000 RM’000 Specific provision

Balance at 1 January 698,775 764,030 Arising from acquisition of a subsidiary company – 173,842 Disposal of a subsidiary company – (4,480) Provisions made during the financial year 506,859 414,556 Amount sold to Danaharta (76) (122,975) Amount written back in respect of recoveries (79,975) (207,228) Amount written off (489,609) (318,970) Amount written off in respect of debt conversion (25,620) –

Balance at 31 December 610,354 698,775

General provision

Balance at 1 January 240,536 218,469 Arising from acquisition of a subsidiary company – 34,145 Disposal of a subsidiary company – (641) Provision made during the financial year 72,772 – Reversed during the financial year (6,547) (11,437)

Balance at 31 December 306,761 240,536

(as % of total loans less specific provision and interest/income-in-suspense) 2.12 1.59 124 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

6 LOANS, ADVANCES AND FINANCING (CONTINUED) GROUP 2000 1999 RM’000 RM’000 Interest/income-in-suspense

Balance at 1 January 482,527 274,293 Arising from acquisition of a subsidiary company – 77,807 Disposal of a subsidiary company – (1,461) Provisions made during the financial year 389,062 394,687 Amount sold to Danaharta (5,124) (51,062) Amount written back in respect of recoveries (188,360) (111,909) Amount written off (158,653) (99,828) Transfer in respect of debt conversion (59,919) –

Balance at 31 December 459,533 482,527

7 STATUTORY DEPOSITS WITH BANK NEGARA MALAYSIA

The non-interest bearing statutory deposits relate to the commercial and merchant banking and finance company subsidiaries and are maintained with Bank Negara Malaysia in compliance with Section 37(1)(c) of the Central Bank of Malaysia Act 1958 (Revised - 1994), the amounts of which are determined as a set percentage of total eligible liabilities.

8 SUBSIDIARY COMPANIES COMPANY 2000 1999 RM’000 RM’000

Unquoted shares in Malaysia at cost 1,889,434 1,804,351 Amounts due from subsidiary companies: - Irredeemable Convertible Unsecured Loan Stocks 200,000 200,000 - Dividends receivable 28,600 47,661 - Advances to a subsidiary company 18,425 2,750 - Other receivables 5,141 280

2,141,600 2,055,042

The advances to a subsidiary company is unsecured, interest free and have no fixed terms for repayment.

The Irredeemable Convertible Unsecured Loan Stocks (‘ICULS’) of RM200 million were issued by a subsidiary company on the basis of RM25.00 of the nominal value for twelve existing ordinary shares of RM1.00 each. The ICULS bear interest at the rate of 7% payable annually in arrears on 21 September each year. The ICULS will mature in five years from date of issuance and can be converted to ordinary shares of RM1.00 each at any time immediately after the issuance date at the conversion price of RM1.20. All new ordinary shares issued upon conversion of the ICULS will rank pari passu in all respects with the existing ordinary shares of the subsidiary company.

125 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

8 SUBSIDIARY COMPANIES (CONTINUED)

The subsidiary companies, all of which are incorporated in Malaysia, are as follows:

Issued and Percentage of paid up equity held Name Principal activities share capital 2000 1999 RM’000 %%

Affin Bank Berhad Provision of commercial 650,000 100 100 (formerly known as Perwira banking services Affin Bank Berhad)

PAB Properties Sdn Bhd Property management 8,000 100 100 services

PAB Nominee (Tempatan) Share nominee services Sdn Bhd 40 100 100

PAB Property Development Dormant Sdn Bhd 250 100 100

PAB Property Management Dormant 30 100 100 Services Sdn Bhd

PAB Trustee Berhad Trustee management services services 500 100 100

PAB Venture Capital Sdn Bhd Dormant – 100 100

Affin Futures Sdn Bhd Financial futures 10,000 100 100

PAB Property Trust Dormant – 100 100 Management Berhad

PAB Nominee (Asing) Sdn Bhd Dormant – 100 100

Affin Corporate Dormant – 100 100 Services Sdn Bhd

Affin Discount Berhad* Discount house 70,000 100 100

Affin Moneybrokers Sdn Bhd* Money-broking 200 100 100

Affin - UOB Holdings Sdn Bhd Investment holdings 100,000 55 55

Affin - UOB Securities Sdn Bhd Stock-broking 100,000 55 55

Affin - UOB Nominees Nominees services for (Tempatan) Sdn Bhd local investors – 55 55

Affin - UOB Nominees Nominees services for (Asing) Sdn Bhd foreign investors – 55 55

Indolight Sdn Bhd Dormant – 100 100

126 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

8 SUBSIDIARY COMPANIES (CONTINUED) Issued and Percentage of paid up equity held Name Principal activities share capital 2000 1999 RM’000 %%

Affin Fund Management Asset management 12,000 100 100 Sdn Bhd

PAB Unit Trust Management Management of unit trust 5,000 100 100 Berhad

Affin Merchant Bank Berhad Provision of merchant 187,500 63.16 63.16 (formerly known as Perwira banking services Affin Merchant Bank Berhad)

Merchant Nominees (Asing) Dormant – 63.16 63.16 Sdn Bhd

Merchant Nominees Nominee services 10 63.16 63.16 (Tempatan) Sendirian Berhad

ACF Holdings Berhad* Investment holdings 269,308 78.05 54.5

Affin- ACF Finance Berhad (formerly known as Asia Commercial Finance (M) Berhad)* Licensed finance company 285,154 78.05 54.5

Lion Nominees (Tempatan) Nominee services 25 78.05 54.5 Sdn Bhd*

LCB Insurance Brokers Sdn Bhd* Insurance broking 1,000 78.05 54.5

Lion Leasing Sdn Bhd* Lease and hire purchase 6,000 78.05 54.5 financing and factoring services

Affin.com Sdn Bhd* Dormant 96,000 78.05 54.5 (formerly known as Affin Finance Berhad)

* Subsidiary companies audited by firms other than PricewaterhouseCoopers.

127 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

9 ASSOCIATED COMPANY GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000` RM’000

Unquoted shares at cost 6,597 6,597 6,597 6,597 Group’s share of post acquisition retained earnings 30,966 32,880 – –

37,563 39,477 6,597 6,597 Amount due from associated company – 3,600 – 3,600

37,563 43,077 6,597 10,197

GROUP 2000 1999 RM’000 RM’000

Group’s share of net tangible assets 38,089 40,003 Discount on acquisition (526 ) (526)

37,563 39,477

The interest in associated company represents a 40% (1999 : 40%) equity interest in AXA Affin Assurance Berhad (formerly known as Guardian Royal Exchange Assurance (M) Berhad), a company incorporated in Malaysia. The associated company is principally engaged in the underwriting of all classes of general insurance business.

10 TRADE DEBTORS

Trade debtors mainly arose from the stockbroking subsidiary company and represents amount outstanding in purchase contracts net of provisions for doubtful debts and interest-in-suspense of RM900,000 (1999: RM77,000) and RM40,000 (1999:RM5,000) respectively.

128 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

11 OTHER ASSETS GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000` RM’000

Interest receivable 40,286 45,374 911 23 Other debtors, deposits and prepayments 165,698 252,759 1,453 1,463 Amounts recoverable from Danaharta 78,676 102,325 – –

284,660 400,458 2,364 1,486

Amounts recoverable from Danaharta:

At 1 January 102,325 65,929 – – Amount arising during the financial year 7,547 66,097 – – Provision made during the financial year (31,196) (29,701) – –

At 31 December 78,676 102,325 – –

12 DEFERRED TAXATION BENEFIT GROUP 2000 1999 RM’000 RM’000

At 1 January 1,460 9,800 Arising from acquisition of a subsidiary company – 1,460 Write-off to income statement (Note 31) (1,460) (9,800)

At 31 December – 1,460

129 13 FIXED ASSETS Leasehold Computer Buildings land and buildings Furniture equipment Capital Freehold on freehold Less than 50 years and and Motor Work-in- land land 50 years or more Renovations equipment software vehicles progress Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 GROUP

2000

Cost

At 1 January 25,197 70,131 7,585 46,484 42,482 61,759 129,514 20,621 67,309 471,082

- Additions – – – – 11,428 17,151 16,684 3,937 20,774 69,974 - Disposals – – – – (109) (48) (375) (847) – (1,379) - Write–off – – – – (1,368) (336) (8) (63) – (1,775) - Reclassification (2,715) (7,825) (14) (8,290) 32,958 (4,390) 51 4 (9,779) –

At 31 December 22,482 62,306 7,571 38,194 85,391 74,136 145,866 23,652 78,304 537,902

Depreciation

At 1 January – 6,118 2,173 3,309 32,655 35,904 53,117 14,279 – 147,555

- Charge for the financial year – 1,301 61 776 17,259 4,834 28,616 4,120 – 56,967 - Disposals – – – – (46) (43) (95) (814) – (998) - Write–off – – – – (1,363) (277) (8) (50) – (1,698) - Reclassification – (899) – (600) 4,074 (2,622) 47 – – –

At 31 December – 6,520 2,234 3,485 52,579 37,796 81,677 17,535 – 201,826

Net book value

At 31 December 2000 22,482 55,786 5,337 34,709 32,812 36,340 64,189 6,117 78,304 336,076

page 130 13 FIXED ASSETS (CONTINUED) Leasehold Computer Buildings land and buildings Furniture equipment Capital Freehold on freehold Less than 50 years and and Motor Work-in- land land 50 years or more Renovations equipment software vehicles progress Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 GROUP

1999

Cost

At 1 January 21,137 64,643 5,758 39,973 30,334 45,061 57,371 14,541 26,948 305,766

- New subsidiaries 1,345 1,680 970 2,848 11,664 12,661 18,123 5,955 2,249 57,495 - Additions 2,715 5,103 – 3,225 484 4,860 54,399 565 38,112 109,463 - Disposals – – – – – (316) (374) (430) – (1,120) - Write–off – – – – – (512) – (10) – (522) - Reclassification – (1,295) 857 438 – 5 (5) – – –

At 31 December 25,197 70,131 7,585 46,484 42,482 61,759 129,514 20,621 67,309 471,082

Depreciation

At 1 January – 4,767 947 2,549 21,636 23,407 26,612 7,958 – 87,876

- New subsidiaries – 351 196 443 7,911 8,239 6,488 3,828 – 27,456 - Charge for the financial year – 1,378 897 72 3,108 5,029 20,344 2,755 – 33,583 - Disposals – – – – – (269) (326) (256) – (851) - Write–off – – – – – (503) – (6) – (509) - Reclassification – (378) 133 245 – 1 (1) – – –

At 31 December – 6,118 2,173 3,309 32,655 35,904 53,117 14,279 – 147,555

Net book value

At 31 December 1999 25,197 64,013 5,412 43,175 9,827 25,855 76,397 6,342 67,309 323,527

page 131 13 FIXED ASSETS (CONTINUED) Leasehold Computer Buildings land and buildings Furniture equipment Capital Freehold on freehold Less than 50 years and and Motor Work-in- land land 50 years or more Renovations equipment software vehicles progress Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

COMPANY

2000

Cost

At 1 January – – – – – – 7 – – 7 - Additions – – – – – – – – – –

At 31 December – – – – – – 7 – – 7

Depreciation

At 1 January – – – – – – 2 – – 2 - Charge for the financial year – – – – – – 2 – – 2

At 31 December – – – – – – 4 – – 4

Net book value

At 31 December 2000 – – – – – – 3 – – 3

page 132 13 FIXED ASSETS (CONTINUED) Leasehold Computer Buildings land and buildings Furniture equipment Capital Freehold on freehold Less than 50 years and and Motor Work-in- land land 50 years or more Renovations equipment software vehicles progress Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

COMPANY

1999

Cost

At 1 January ------4 - - 4 - Additions ------3 - - 3

At 31 December ------7 - - 7

Depreciation

At 1 January ------1 - - 1 - Charge for the financial year ------1 - - 1

At 31 December ------2 - - 2

Net book value

At 31 December 1999 ------5 - - 5

page 133 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

14 DEPOSITS FROM CUSTOMERS GROUP 2000 1999 RM’000 RM’000

Current account deposits 1,845,439 1,438,221 Savings deposits 1,517,888 1,296,311 Fixed deposits 11,960,222 12,096,001 Negotiable certificates of deposits 427,899 1,070,000 Islamic Banking scheme: - Al-Mudharabah-fixed deposits 153,341 157,167 - Al-Wadiah-savings deposits 37 90

15,904,826 16,057,790

Maturity structure of fixed deposits and negotiable certificates of deposits are as follows:

Due within six months 11,526,745 12,295,161 Six months to one year 409,799 697,002 One to three years 601,098 317,924 Three to five years 3,820 13,081

12,541,462 13,323,168

The deposits are sourced from the following type of customers:

Business enterprises 5,757,525 7,165,983 Individuals 6,241,175 4,155,946 Others 3,906,126 4,735,861

15,904,826 16,057,790

15 DEPOSITS AND PLACEMENTS OF BANKS AND OTHER FINANCIAL INSTITUTIONS

GROUP 2000 1999 RM’000 RM’000

Licensed banks 1,167,783 816,518 Licensed finance companies 158,986 440,111 Other financial institutions 2,331,734 2,309,674

3,658,503 3,566,303

134 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

16 TRADE CREDITORS

Trade creditors mainly arose from the stockbroking subsidiary company and represents amount payable under outstanding sales contract.

17 OTHER LIABILITIES GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Proposed dividend 6,643 4,139 6,643 4,139 Zakat 636 501 – – Interest payable 143,383 144,716 – – Other creditors and accruals 417,459 352,495 4,592 12,782

568,121 501,851 11,235 16,921

Included in other creditors and accruals of the Group are trust accounts maintained by a subsidiary company for clients and remisiers amounting to RM4,423,859 (1999: RM20,690,393) and RM6,278,891 (1999: RM2,975,979) respectively.

18 DEFERRED TAXATION GROUP 2000 1999 RM’000 RM’000

At 1 January 12,421 4,051 Transfer from income statement (Note 31) – 8,370

At 31 December 12,421 12,421

There is no material timing differences of which deferred taxation has not been provided for in the financial statements.

19 SHORT TERM BORROWING GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Revolving credit 50,000 476,900 – 426,900 Short term advances – 73,190 – 73,190 Bank overdraft 651 – – –

50,651 550,090 – 500,090

The unsecured short term bank borrowings of the Group and Company bear interest at the rate ranging from 7.1% to 7.7% (1999: 4.7% to 11.4%) per annum.

135 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

20 LONG TERM LIABILITIES GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Bonds payable:

2% redeemable bank guaranteed bonds 178,526 178,526 178,526 178,526 Detachable Warrants 61,474 61,474 61,474 61,474 4% redeemable bank guaranteed bonds – 206,727 – 206,727 Detachable Warrants – 48,273 – 48,273

Advances from shareholders of a subsidiary company 15,075 2,250 – – Term loan 430,000 – 430,000 –

685,075 497,250 670,000 495,000

Bonds payable

During the financial year ended 31 December 1995, RM255,000,000 nominal amount of 4% 5-year redeemable bank guaranteed bonds with 102,056,445 detachable warrants were issued to the primary subscriber on a bought deal basis. During the financial year ended 31 December 1997, RM240,000,000 nominal amount of 2% 5-year redeemable bank guaranteed bonds with 54,403,401 detachable warrants were issued to the primary subscriber on a bought deal basis.

The 2% 5-year redeemable bank guaranteed bonds are constituted under Trust Deed dated 17 October 1997 and will be redeemed in full by the Company at their nominal value on 19 September 2002. The interest on the bonds of 2% per annum is payable annually in arrears. The 2% 5-year bonds are guaranteed by Maybank Berhad.

The 4% 5-year redeemable bank guaranteed bonds constituted under Trust Deed dated 25 January 1995 have been redeemed in full by the Company at their nominal value on 22 February 2000.

The rights to allotment of 102,056,445 and 54,403,401 warrants were offered for sale by the primary subscriber at an offer price of 47.3 sen per warrant and RM1.13 per warrant, respectively, on the basis of one warrant for every five ordinary shares and one warrant for every ten ordinary shares in the Company held. Each warrant entitles its holder to the option to subscribe for one ordinary share of RM1.00 each in the Company at any time during the exercise period of five years commencing on the date of issue of warrants at a price of RM3.75 and RM4.15 per ordinary share, respectively, subject to adjustment in accordance with the provisions of the Deed Poll.

The exercise period of the warrants 1995/2000 and warrants 1997/2002 were extended to 2005 and 2007 respectively upon approval by the relevant authorities and the shareholders of the Company.

The Company issued new ordinary shares by way of rights during the financial year. Accordingly, the exercise price of the warrants 1995/2005 and 1997/2007 were revised to RM3.38 and RM3.74 respectively, as required by the Deed Poll of both warrants.

136 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

20 LONG TERM LIABILITIES (CONTINUED)

Advances from shareholders of a subsidiary company

The advances from shareholders of a subsidiary company is unsecured, interest free and have no fixed terms for repayment.

Term loan

The unsecured term loan of the Company is from a financial institution which carries interest rates ranging from 7.5% to 8.0% per annum and is repayable within three to seven years from the end of the financial year ended 31 December 2000.

21 SHARE CAPITAL GROUP AND COMPANY 2000 1999 RM’000 RM’000 Authorised:

Ordinary shares of RM1 each Balance at 1 January 5,000,000 1,000,000 Created during the financial year – 4,000,000

Balance at 31 December 5,000,000 5,000,000

Issued and fully paid:

Ordinary shares of RM1 each 922,656 574,887

Employees’ Share Option Scheme

The main features of the ESOS 1 and ESOS 2 are as follows:

137 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

21 SHARE CAPITAL (CONTINUED)

(d) No option shall be granted for less than 7,000 shares or more than 200,000 shares to any eligible employee.

Options over ordinary share of RM1 each At a At a price of price of RM 3.57 RM6.26 Total

At 1 January 2000 8,955,000 8,290,000 17,245,000 Exercised during the financial period 3,992,000 - 3,992,000

At 9 March 2000 12,947,000 8,290,000 21,237,000

138 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

22 RESERVES GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Distributable: Retained profits 372,584 461,643 26,536 27,945 Merger reserve realised upon disposal of subsidiary company – – 1,000 1,000

Non–distributable: Statutory reserve 397,518 415,939 – – Currency translation reserve 2,707 2,759 – –

772,809 880,341 27,536 28,945

(a) The statutory reserve of the Group are maintained in compliance with the provisions of the Banking and Financial Institutions Act, 1989 and is not distributable as cash dividends.

(b) As at 31 December 2000, the Company has sufficient tax credit under Section 108 of the Income Tax Act, 1967 and tax exempt income under Section 12 of the Income Tax (Amendment) Act, 1999 (subject to agreement with the tax authorities) to frank the payment of dividends out of its entire retained profits without incurring additional taxation.

23 INTEREST INCOME GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Loans, advances and financing 1,269,106 1,181,713 – – Money at call and deposits with financial institutions 69,301 79,607 8,007 1,449 Dealing securities 3,297 3,160 – – Investment securities 157,583 204,523 14,000 14,000

1,499,287 1,469,003 22,007 15,449 Accretion of discount less amortisation of premium 61,494 50,303 – – Net interest suspended (191,839) (236,276) – –

1,368,942 1,283,030 22,007 15,449

139 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

24 INTEREST EXPENSES GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Deposits and placements of banks and other financial institutions 56,364 100,360 – – Deposits from other customers 512,200 628,228 – – Others 46,945 43,793 – –

615,509 772,381 – –

25 ISLAMIC BANKING INCOME GROUP 2000 1999 RM’000 RM’000

Financing income from Islamic Banking 89,792 72,321 Other fee and income 7,112 30,255 Financing expenses (59,705) (64,576)

37,199 38,000

Less: Profit suspended (5,056) (5,423)

32,143 32,577

26 NON-INTEREST INCOME GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Fee income

- Fees on loans, advances and financing 4,445 13,073 – – - Portfolio management fees – 371 – – - Corporate advisory fees 6,816 6,608 – – - Commission 89,672 50,399 – – - Service charges and fees 23,533 22,366 – – - Guarantee fees 21,045 40,318 – – - Other fee income 10,440 7,047 – –

155,951 140,182 – –

140 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

26 NON-INTEREST INCOME (CONTINUED) GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 Investment income

- Gain on disposal of investment securities 11,769 23,758 – – - Net trading income from money market instruments 18,299 24,136 – – - Gain on disposal of dealing securities 11,019 940 – –

Gross dividends from

- Dealing securities 123 136 – – - Investment securities 551 1,065 – 757 - Subsidiaries – – 28,600 61,000 - Associated company – – – 5,000

41,761 50,035 28,600 66,757

Other income

- Foreign exchange gain/(loss) - realised 21,111 45,046 – – - unrealised (5,089) (21,549) – – - Rental income 7,587 2,633 – – - Gain on disposal of fixed assets 337 146 – – - Other non-operating income 5,177 8,782 26 8

29,123 35,058 26 8

226,835 225,275 28,626 66,765

27 OVERHEAD EXPENSES

Personnel costs 200,823 146,313 306 265 Establishment costs 125,924 94,947 115 172 Marketing expenses 37,361 21,063 – – Administration and general expenses 85,801 66,050 5,411 8,202

449,909 328,373 5,832 8,639

141 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

27 OVERHEAD EXPENSES (CONTINUED) GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 The above expenditure includes the following statutory disclosures:

Directors’ remuneration - Fees 185 155 80 80 - Emoluments 751 646 – – Rental of premises 29,300 27,406 – – Hire of equipment 1,655 (2,304) – – Lease rental 19 19 – – Retirement benefits charge 3,756 2,040 – – Auditors’ remuneration - statutory audit 608 492 30 27 - others 7 355 – – Depreciation of fixed assets 56,967 33,583 2 1 Dealers’ commission 14,092 12,391 – – Fixed assets written off 77 13 – – Amortisation of deferred expenses 261 2,887 261 698 Deferred expenses written off 8,421 – – –

The Directors of subsidiary companies received benefits-in-kind estimated at a cash value of RM161,398 (1999: RM158,746) during the financial year.

28 LOAN AND FINANCING LOSS AND PROVISION GROUP 2000 1999 RM’000 RM’000

Provision for/(write-back of) bad and doubtful debts and financing: - specific provision (net) 426,884 207,328 - general provision 66,225 (11,437)

Bad debts: - written off 24,560 27,695 - recovered (19,528) (7,058)

Provision on amounts recoverable from Danaharta 31,196 29,701

Provision for diminution in value of investment securities 62,820 8,200 Provision for doubtful debts - other debtors 12,639 –

604,796 254,429

142 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

29 FINANCE COST

Finance cost relates to interest expense on bonds payable, short term and long term borrowings of the Group and of the Company.

30 EXCEPTIONAL ITEM GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Gain on disposal of subsidiary company – – – 2,260

31 TAXATION

The taxation charge arising in Malaysia for the financial year: Current taxation 36,458 (9,390) 3,215 19,644 Transfer to deferred taxation (Note 18) – 8,370 – – Write-off from deferred taxation benefit (Note 12) 1,460 9,800 – –

37,918 8,780 3,215 19,644 Over provision in prior years (13,856) (6,393) (12,589) (4,000)

24,062 2,387 (9,374) 15,644

The effective tax rate of certain subsidiaries of the Group with tax charge during the financial year is higher than the statutory tax rate as certain expenses are not deductible for tax purposes.

As at 31 December 2000, subject to agreement with the tax authorities, the Group has unabsorbed losses of RM139,893,000 (1999: RM84,005,000) and unutilised capital allowances of approximately RM21,016,000 (1999: RM22,180,000) which can be used to offset future taxable profit. However, in connection with the merger of Affin Finance Berhad (‘AFB’) business with Affin-ACF Finance Berhad (‘Affin-ACF’) (formerly known as Asia Commercial Finance (M) Berhad) effective from 3 January 2000, 50% of the unabsorbed losses of AFB amounting to approximately RM14,041,000 can be carried forward into the merged entity, Affin-ACF and can be used to off-set future tax payable of approximately RM3,931,000 of Affin-ACF, subject to agreement with the tax authorities.

In accordance with Income Tax (Amendment) Act 1999, assessment of income tax based on income received in the preceding year has been changed to income received in the current year, beginning from the Year of Assessment 2000 and that tax on income (except dividend income) earned in 1999 has been waived. In view of this, no provision for tax is required in respect of the Group’s and the Company’s earnings for the financial year ended 31 December 1999 other than tax incurred on dividend income.

143 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

32 DIVIDENDS GROUP AND COMPANY 2000 1999 RM’000 RM’000 Proposed final:

1 sen (1999: 1 sen) gross per share, less income tax at 28% (1999: 28%) 6,643 4,139

33 (LOSS)/EARNINGS PER SHARE

The basic (loss)/earnings per share of the Group has been calculated based on (loss)/earnings of (RM100,808,000) (1999: RM134,913,000) on the weighted average of 709,021,869 (1999: 603,038,100) ordinary shares in issue during the financial year. The weighted average of ordinary shares for the current and previous financial year have been adjusted for the issue of 307,551,668 rights shares, which was issued during the financial year.

The Company has warrants convertible to ordinary shares which are dilutive potential ordinary shares. These potential ordinary shares are anti-dilutive for the current financial year and the preceeding financial year and are ignored in the calculation for dilutive (loss)/earnings per share of the Group.

The calculation of (loss)/earnings per share of the Group and the disclosure notes are in accordance with the requirements of the Malaysian Accounting Standards Board 13 (‘MASB 13’)

34 ACQUISITION OF SUBSIDIARY COMPANY GROUP 2000 1999 RM’000 RM’000

Cash and short term funds – 248,455 Securities purchased under repurchase agreements – 50,000 Deposits and placements with financial institutions – 109,506 Debtors – – Investment securities – 443,172 Loans and advances – 2,052,044 Statutory deposits with Bank Negara Malaysia – 99,050 Fixed assets – 30,039 Other assets – 34,166 Deposits from customers – (1,948,444) Deposits of banks and other financial institutions – (807,624) Other liabilities – (74,772) Bank loans – (50,994) Minority interest – (133,620) Goodwill on acquisition – 23,576

Total purchase consideration – 74,554

Less: Consideration discharged by the issue of Affin Holdings Berhad’s shares – (1,207)

Consideration discharged by cash – 73,347 Less: Cash, short term funds and deposits of subsidiary company acquired – (357,961)

Net cashflow on acquisition of subsidiary company – (284,614)

144 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

35 DISPOSAL OF SUBSIDIARY COMPANY GROUP 2000 1999 RM’000 RM’000

Cash and short term funds – 11,984 Loans and advances – 525 Other assets – 73 Other liabilities – (104) Reserve on consolidation – (292) Bank loans – (19) Minority interest – (6,105)

Attributable net assets sold – 6,062

Total disposal consideration – (6,062) Add: Cash and short term funds of subsidiary company disposed – 11,965

Net cashflow on disposal of subsidiary company – 5,903

36 STAFF RETIREMENT BENEFITS

The most recent actuarial valuation of the commercial bank sub-groups’ retirement benefits scheme on 31 December 1999 had the following principal assumptions:

(a) investment returns would be 7.0% per annum (b) salary increases would average 7.0% per annum (c) inflation rate of 4.0% per annum

The charge for retirement benefits of the commercial bank sub-group for the current financial year was RM3,033,412 (1999: RM1,380,000).

The 31 December 1999 actuarial valuation showed that the net realisable value of the fund assets was RM7,150,736 and that there was a shortfall of RM6,942,966 when compared to the actuarially determined value of projected past service liability. The shortfall has been fully recognised in the financial statements.

The charge for retirement benefits of the finance company sub-group for the current financial year was RM723,000 (1999: RM660,000).

37 CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR

GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000

Cash and short term funds 2,091,160 2,137,118 330,499 16,968 Adjustment for money held in trust on behalf of clients and remisiers (988) (2,137) – –

2,090,172 2,134,981 330,499 16,968

145 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

38 COMMITMENTS AND CONTINGENCIES GROUP 2000 1999 RM’000 RM’000 (a) Capital commitments:

Authorised capital expenditure contracted but not provided for 58,768 165,184 Capital expenditure approved by the Board but not contracted for 8,398 11,688

67,166 176,872

(b) Lease commitments:

The commercial bank sub-group has lease commitments in respect of rented premises and hired equipment, all of which are classified as operating leases. A summary of the non-cancellable long-term commitments, net of sub-leases is as follows:-

Year RM’000

2001 79,190 2002 58,542 2003 38,461 2004 17,720

The lease figures represent minimum rentals not adjusted for operating expenses which the sub-group is obligated to pay. These amounts are insignificant in relation to the minimum lease obligations. In the normal course of business, leases that expire will be renewed or replaced by leases on other properties, thus it is anticipated that future minimum lease commitments will not be less than rental expenses for 2000.

146 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

38 COMMITMENTS AND CONTINGENCIES (CONTINUED)

In the normal course of the commercial, finance and merchant banking businesses, the subsidiary companies make various commitments and incur certain contingent liabilities with legal recourse to their customers. No material losses are anticipated as a result of these transactions.

GROUP 2000 2000 1999 1999 Credit Credit Principal equivalent Principal equivalent amount amount* amount amount* RM’000 RM’000 RM’000 RM’000

Interest rate related contracts - less than one year 139,000 7,133 37,000 3,710 - one year to less than five years 621,400 10,694 40,000 540 - five years and above 36,400 684 11,400 1,788 Foreign exchange related contracts - less than one year 3,833,516 65,287 2,172,621 36,039 Underwriting commitments 1,508,500 754,250 561,651 280,826 Housing loans sold to Cagamas Berhad 384,709 384,709 356,618 356,618 Hire purchase sold directly and indirectly to Cagamas Berhad with recourse 150,487 150,487 167,232 167,232 Direct credit substitutes 1,070,536 1,070,536 1,009,421 1,009,421 Certain transaction-related contingent items 1,594,143 797,072 1,635,585 817,793 Short term self-liquidating trade related contingencies 2,012,718 402,504 479,747 95,949 Irrevocable commitments to extend credit: - maturity more than one year 1,416,531 708,266 1,690,572 845,287 - maturity less than one year 3,079,870 – 1,915,907 – Guarantees 374,650 374,650 402,238 402,238 Al-Kafalah 16,898 16,898 49 49 Other assets sold with recourse and commitment with certain drawdown – – 101,654 50,827 Endorsement of Bankers’ Acceptance – – 12,481 –

16,239,358 4,743,170 10,594,176 4,068,317

* The credit equivalent amount is arrived at using the credit equivalent factor as per Bank Negara Malaysia guidelines.

147 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

38 COMMITMENTS & CONTINGENCIES (CONTINUED)

Other commitments and contingencies arose from the ordinary business of the banking subsidiaries. Hence, the contingent liabilities of the Group are unsecured.

The Group is contingently liable in respect of housing loans and hire-purchase loans sold to Cagamas Berhad, where there is a condition that the Group undertakes to administer the loans on behalf of Cagamas Berhad and to buy back as and when the loans are regarded as defective, based on criteria set out in the agreement.

The foreign exchange and interest rate related contracts are made up as follows:

GROUP 2000 2000 1999 1999 Credit Credit Principal equivalent Principal equivalent amount amount* amount amount* RM’000 RM’000 RM’000 RM’000 Foreign exchange contracts - forward and futures contracts 3,833,516 65,287 2,172,621 36,039 Interest rate contracts - forward and futures contracts 445,000 – 37,000 3,710 - swaps 351,800 18,511 51,400 2,328

Foreign exchange and interest rate related contracts are subject to market risk and credit risk.

Market risk

Market risk is the potential change in value caused by movement in market rates or prices. The contractual amounts stated above provide only a measure of involvement in these types of transactions and do not represent the amounts subject to market risk. Exposure to market risk may be reduced through offsetting on and off-balance sheet positions. As at end of 2000, the notional amount of foreign exchange exposure which were not hedged and hence, exposed to market risks was RM5.0 million (1999: RM2.1 million), while the notional amount of interest rate exposures in Klibor futures equivalent terms was RM11.0 million (1999: RM82.0 million).

Credit risk

Credit risk arises from the possibility that a counterparty may be unable to meet the terms of a contract in which the commercial bank subsidiary has a gain position. As at end of 2000, the amounts of foreign exchange and interest rate credit risk, measured in terms of the cost to replace the profitable contracts, were RM60.0 million (1999: RM36.0 million) and RM17.8 million (1999: RM2.3 million) respectively. This amount will increase or decrease over the life of the contracts, mainly as a function of maturity dates and market rates or prices.

39 LITIGATION AGAINST THE GROUP

There are legal suits against the commercial bank subsidiary company in respect of counter claims of approximately RM22.1 million (1999: RM52.6 million). Based on legal advice, the directors of the commercial bank subsidiary company are of the opinion that no provisions for damages need to be made in the financial statements as the probability of adverse adjudication against the commercial bank subsidiary company is remote.

148 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 31 DECEMBER 2000

40 SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES

The related parties of and their relationship with the Group and Company are as follows:

Related parties Relationship Lembaga Tabung Angkatan Tentera Holding and ultimate holding corporate body Subsidiaries of the Company as disclosed in Note 8 Subsidiary companies Boustead Holdings Berhad Subsidiary of ultimate holding corporate body

In the normal course of business, the Group and the Company undertakes various transactions with its ultimate holding company and related companies, being subsidiaries of Lembaga Tabung Angkatan Tentera (‘LTAT group’).

In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions and balances. The related party transactions described below were carried out on terms and conditions obtainable in transactions with unrelated parties unless otherwise stated. Interest rates on fixed and short term deposits were at normal commercial rates.

GROUP COMPANY 2000 1999 2000 1999 RM’000 RM’000 RM’000 RM’000 INCOME

Brokerage fee income from LTAT group 4,638 4,337 – – Other fee income from LTAT group 40 – – –

EXPENDITURE

Interest expense paid to ultimate holding corporate body 13,164 29,636 – –

Rental of premises paid to ultimate holding corporate body 1,448 1,484 – –

Islamic Banking income paid to ultimate holding corporate body 3,158 – – –

AMOUNT DUE FROM

Rental deposits with ultimate holding corporate body 350 302 – –

AMOUNT DUE TO

Short term:

LTAT group - Short term deposits 270,130 700,515 – – - Current account 6,317 13,542 – – - Interest payable 1,025 3,782 – –

Other payables to ultimate holding corporate body – 33 – 33

149 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

41 SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR

Acquisition of ACF Holdings Berhad - Unconditional Mandatory Offer

On 10 December 1999, the Company served a Notice of Unconditional Mandatory Offer to the shareholders of ACF Holdings Berhad (‘ACFHB’), to acquire the remaining 122,511,000 ACFHB shares representing 45.5% of ACFHB issued and paid-up share capital not already held by the Company at an offer price of RM1.20 per share.

On 20 January 2000, the Company issued 36,223,785 new shares in return for 63,395,229 ACFHB shares from the shareholders of ACFHB who accepted the share offer arising from the Unconditional Mandatory Offer. The Company also paid RM13,813 in cash in return for 11,511 ACFHB shares from the shareholders of ACFHB who accepted the cash offer.

Rights issue

On 13 June 2000, the Company issued 307,551,668 new rights shares at an issue price of RM2.10 per share on the basis of two (2) rights shares with one (1) new warrant for every four (4) Affin Holdings Berhad (‘AHB’) shares held.

Acquisition of BSN Commercial Bank (M) Berhad (‘BSNC’) and BSN Merchant Bank Berhad (‘BSNMB’)

On 30 August 2000, the Company and Affin Bank Berhad (formerly known as Perwira Affin Bank Berhad) (‘ABB’) entered into the Acquisition of Business Agreement with the major shareholders of BSNC and BSNMB for the proposed acquisition of certain assets and liabilities of BSNC by ABB and the Shares Sale Agreement for the proposed acquisition of the entire issued and paid-up share capital of BSNMB by Affin Merchant Bank Berhad (formerly known as Perwira Affin Merchant Bank Berhad) (‘AMB’).

On 13 October 2000, the Company entered into a novation agreement with the major shareholders of BSNMB, to discharge AMB from all responsibilities and obligations for ABB to assume all rights, responsibilities and obligations of AMB in respect of the Shares Sale Agreement.

The proposed acquisition of certain assets and liabilities of BSNC for a total purchase consideration of RM338,980,000 is to be satisfied by an issue of 96,851,428 new ordinary shares of the Company at an issue price of RM2.80 per share and the balance RM67,796,000 in cash.

The proposed acquisition of the entire issued and paid-up share capital in BSNMB for a total purchase consideration of RM32,924,000 is to be satisfied by an issue of 11,758,571 new ordinary shares of AHB at an issue price of RM2.80 per share.

The acquisition of BSNC and BSNMB above have been approved by the shareholders of the Company and the relevant authorities.

Acquisition of BSN Finance Berhad (‘BSNF’)

On 30 August 2000, ACFHB and Affin-ACF Finance Berhad (formaly known as Asia Commercial Finance (M) Berhad) (‘Affin-ACF’) entered into the Shares Sale Agreement with the major shareholders of BSNF for the proposed acquisition of BSNF by Affin-ACF.

The proposed acquisition of the entire issued and paid-up share capital of BSNF for a total purchase consideration of RM85,652,000 is to be satisfied by an issue of 69,074,194 new ordinary shares of ACFHB at an issue price of RM1.24 per share.

The acquisition of BSNF has been approved by the shareholders of ACFHB and the relevant authorities.

150 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

41 SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONTINUED)

Proposed acquisition of Amsteel Securities (M) Sdn Bhd (‘AmsteelSec’)

On 14 December 2000, Affin-UOB Holdings Sdn Bhd (‘AUOBH’), a 55% owned subsidiary of the Company had entered into a conditional Sale Agreement (‘Agreement’) with the shareholders of AmsteelSec for the proposed acquisition of the entire issued and paid-up share capital of AmsteelSec comprising 185,000,000 ordinary shares of RM1.00 for a purchase consideration of RM285,000,000 to be satisfied in cash.

Pursuant to the Agreement, AUOBH is required to place a refundable deposit amounting to RM28,500,000 with the stakeholder identified in the Agreement.

42 SUBSEQUENT EVENTS

Pursuant to the Vesting Order of the High Court of Malaya dated 18 December 2000 and 8 January 2001, the assets and liabilities acquired from BSNC and all the assets and liabilities of BSNMB as stated in Note 41 were vested with ABB on 1 January 2001 and 8 January 2001 respectively.

Pursuant to the Vesting Order of the High Court of Malaya, the finance company business, assets and liabilities of BSNF as stated in Note 41 were vested with Affin-ACF on 4 January 2001.

43 SEGMENT ANALYSIS

The segment analysis of the Group by activity in 2000 and 1999 are as follows:

Profit/(Loss) Operating before Assets revenue taxation employed 2000 RM’000 RM’000 RM’000

Investment holding 74,115 14,694 3,123,161 Commercial and merchant banking 1,028,288 (207,517) 17,704,255 Finance and leasing 420,352 76,235 4,556,083 Discount house and money-broking 120,713 68,745 1,760,308 Securities and asset management 57,234 9,207 173,005 Insurance 4,932 2,781 24,926

1,705,634 (35,855) 27,341,738 Consolidation adjustments (77,714) (60,508) (2,685,373)

1,627,920 (96,363) 24,656,365

1999

Investment holding 84,702 23,069 2,613,020 Commercial and merchant banking 1,187,586 96,744 17,538,694 Finance and leasing 295,071 18,545 2,982,816 Discount house and money-broking 136,557 65,858 1,670,493 Securities and asset management 29,817 50 167,479 Insurance 5,001 3,397 5,939

1,738,734 207,663 24,978,441 Consolidation adjustments (197,852) (63,342) (479,357)

1,540,882 144,321 24,499,084

The Group’s activities are principally conducted in Malaysia and accordingly, no information on the Group’s operations by geographical segments has been provided. 151 STATEMENT BY DIRECTORS PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965

We, Dato’ Lodin bin Wok Kamaruddin and Azzat bin Kamaludin, two of the directors of Affin Holdings Berhad, state that, in the opinion of the directors, the financial statements set out on pages 102 to 151 are drawn up so as to give a true and fair view of the state of affairs of the Group and of the Company as at 31 December 2000 and of the results and cash flows of the Group and of the Company for the financial year ended on that date in accordance with the applicable approved accounting standards in Malaysia, Bank Negara Malaysia Guidelines and the provisions of the Companies Act, 1965.

In accordance with a resolution of the Board of Directors dated 23 April 2001.

DATO’ LODIN BIN WOK KAMARUDDIN AZZAT BIN KAMALUDIN Director Director

Kuala Lumpur 23 April 2001

STATUTORY DECLARATION PURSUANT TO SECTION 169(16) OF THE COMPANIES ACT, 1965

I, Yu Choong Cheong, the person primarily responsible for the financial management of Affin Holdings Berhad, do solemnly and sincerely declare that the financial statements set out on pages 102 to 151 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.

YU CHOONG CHEONG

Subscribed and solemnly declared by the abovenamed Yu Choong Cheong at Kuala Lumpur in Malaysia on 23 April 2001

before me.

LT. KOL (B) HJ. ABDULLAH BIN MOHD YUNUS No.: W118 COMMISSIONER FOR OATHS

152 REPORT OF THE AUDITORS TO THE MEMBERS OF AFFIN HOLDINGS BERHAD (Company No. 23218 W)

We have audited the financial statements set out on pages 102 to 151. These financial statements are the responsibility of the Company’s directors. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with approved auditing standards in Malaysia. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by directors, as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion:

(a) the financial statements have been prepared in accordance with the provisions of the Companies Act, 1965, applicable approved accounting standards in Malaysia and Bank Negara Malaysia guidelines so as to give a true and fair view of:

(i) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements; and

(ii) the state of affairs of the Group and of the Company as at 31 December 2000 and of the results and cash flows of the Group and Company for the financial year ended on that date; and

(b) the accounting and other records and the registers required by the Act to be kept by the Company and by the subsidiary companies of which we have acted as auditors have been properly kept in accordance with the provisions of the Act.

The names of the subsidiary companies of which we have not acted as auditors are indicated in Note 8 to the financial statements. We have considered the financial statements of these subsidiary companies and the auditors’ reports thereon.

We are satisfied that the financial statements of the subsidiary companies that have been consolidated with the Company’s financial statements are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial statements and we have received satisfactory information and explanations required by us for those purposes.

The auditors’ reports on the financial statements of the subsidiary companies were not subject to any qualification and did not include any comment made under subsection (3) of Section 174 of the Act.

PRICEWATERHOUSECOOPERS (No. AF: 1146) Public Accountants

DATO’ AHMAD JOHAN BIN MOHAMMAD RASLAN (No. 1867/9/02 (J)) Partner of the firm

Kuala Lumpur 23 April 2001

153 PARTICULARS OF PROPERTIES

Details or the Group’s main properties as at 31 December 2000 are as follows:-

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

HS (D) 4504 & 4502 No 100 & 101 2 units 3 storey Leasehold Land - 4,030 18 300,579.81 Lot 3 & 4 Town of Taman Melaka Raya shopoffice/ (99 years) Built-up 12,000 Melaka District of Jalan Parameswara Branch Premises Exp: 2075 Melaka Tengah 75000 Melaka

HS (D) 12930 & 12931 No 5 & 7, 2 units 2 storey Freehold Land - 3,520 13 888,480.80 MLO 7278 & 7279 Jalan Perisai shopoffice/ Built-up 6,776 Mukim of Plentong Taman Sri Tebrau Branch Premises 80050 Johor Bahru Johor Darul Takzim

HS (D) 5217 No 1, Jalan Berangan 4 storey Freehold Land - 3,000 19 620,061.00 PT 90 (Sec 1) 42008 Port Klang shopoffice/ Built-up 12,768 Port Klang Selangor Darul Ehsan Branch Premises District of Klang

HS (D) 1075/80 & No 1, Jalan SMIC/5 2 units 2 storey Leasehold Land - 4,688 18 151,767.31 1076/80 PT 3965 & Bandar Baru Sri shopoffice/ (99 years) Built-up 6,160 3966, Mukim of Manjung Sitiawan, Branch Premises Exp: 2079 Setiawan District of Perak Darul Ridzuan Dinding

HS (D) 3304 & 9274 No. 11 & 13, 2 units 3 storey Freehold Land - 3,480 12 364,180.56 Lot 1856 & 1857 Jalan Kampar shopoffice/ Built-up 10,320 District of Kinta 30250 Ipoh Branch Premises Perak Darul Ridzuan

HS (D) 892 No. 1, 3 1/2 storey Freehold Land - 3,367 9 1,224,696.42 PT 6727/24 Jalan Tun Dr. Ismail shopoffice/ Built-up 12,800 Mukim of P.O. Box 354 Branch Premises Kuala Kuantan 24740 Kuantan District of Pahang Darul Makmur Kuantan

HS (D) 12930 & No. 41, Jalan 2 storey Freehold Land - 2,607 10 286,110.20 12931 MLO 7278 & Bakawali 35 shopoffice/ Built-up 5,614 7279 Mukim of Taman Johor Jaya Branch Premises Plentong District of 81100 Johor Bahru, Johor Bahru Johor Darul Takzim

HS (M) 6367, Nadi Kota, Single storey/ Leasehold Land - 20,056 10 583,533.16 PT 7485 Mukim of Bandar Pusat Jengka detached building/ (99 years) Built-up 2,500 Chenor District of 26400 Jengka, Branch premises Exp: 2091 Maran Pahang Darul Makmur

Lot 223, Sec 11 223/224, Jalan Satok 2 units 4 storey Freehold Land - 4,659 9 1,035,670.08 Lot 224, Sec 11 KLTD, 93400 Kuching shopoffice/ Built-up 11,858 Kuching Town Land Sarawak Branch Premises 154 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

Title 12000 PT 7804 No. 72 Jalan Kebun Single storey/ Freehold Land - 8,140 10 161,825.65 District of Johor Bahru Teh, Johor Bahru Bungalow/ Built-up 4,757 Johor Darul Takzim Branch Manager’s residence

Title 2624 Lot 97 No. 5132 Jalan Single storey Leasehold Land - 9,311 13 134,355.76 Sek 11 Town of Dato’ Pelambang Bungalow/ (60 years) Built-up 1,712 Bukit Baru District of Bukit Baru, Melaka Branch Manager’s Exp: 2055 Melaka Tengah residence

HS (D) 10842 & No. 211 & 213 2 units 4 storey Leasehold Land - 3,968 12 12,918.95 10843 PT 266 & 267 Jalan Perkasa 1 shopoffice/ (99 years) Built- up 15,872 Mukim Ampang Taman Maluri, Bank Premises Exp: 2076 District of Cheras (Banking School) Kuala Lumpur 55100 Kuala Lumpur

TL 107526054 Lot 3A Lot 3A & 3B 2 storey/ Freehold Land - 6,670 8 311,513.56 TL 107526053 Lot 3B Taman Emas 2, bungalow house Built-up 2,007 District of Tawau Batu 2 Jalan Sin Branch Manager’s Onn Tawau, Sabah Residence

HS (M) 12950 No. A715B 2 storey/ Freehold Land - 6,996 8 201,414.12 PT 16732 Mukim of Lorong Tok Sira 13 bungalow house Built-up 2,868 Kuala Kuantan Taman Datin Branch Manager’s District of Kuantan Mahanum, Kuantan Residence Pahang Darul Makmur

Title 12236 Lot 1676 Lot 176 Single storey/ Freehold Land - 6,996 18 122,400.00 Mukim & District of Jalan Koh Kee Kah bungalow house Built-up 2,868 Port Dickson Taman Koh Kee Kah Branch Manager’s 71000 Port Dickson Residence Negeri Sembilan Darul Khusus

HS (D) 39216 K1, Nos. 1A, B & C 3 storey + Leasehold Land - 3, 900 6 1,804,141.35 PT 2068 Mukim & Jalan TK 1/11A Basement (99 years) Built-up 15,600 District of Petaling Taman Kinrara, shopoffice/ Exp: 2091 Seksyen 1 Puchong Bank Premises Selangor Darul Ehsan

P.M. No. 389 No. 52 Perumahan 2 storey/ Leasehold Land - 3, 843 6 120,486.00 Lot No. 6834 Mukim Lot 144 Gong Limau, bungalow house (99 years) Built-up 2,200 of Chukai District Kemaman, Branch Manager’s Exp: 2082 of Kemaman Terengganu Residence

HS (D) 11547/ Nos. 11 & 11A 5 storey Freehold Land - 3,261 4 1,487,615.04 11548 PT 15727/ Jalan Memanda 7/1 shopoffice/ Built-up 5,658 15728 Mukim of Off Jalan Ampang Bank Premises Ampang 68000 Ampang Selangor Darul Ehsan 155 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

HS (D) 7570 & 7571 Plot 65 & 66 2 units 3 storey Freehold Land - 3,080 8 1,432,806.68 Lot 8552 & 8553 Taman Sri Tunas shopoffice/ Built-up 8,360 Mukim 12 District of Muda Bayan Baru, Bank Premises Barat Daya Pulau Pinang

HS (D) 169672 PTD PTD 85558 2 storey/ Freehold Land - 3,200 8 190,402.75 85558 Mukim of Jalan Molek 2/17 Semi detached Built-up 2,090 Plentong District of Taman Molek, Fasa 2 house Branch Johor 81100 Johor Bahru Manager’s Johor Darul Takzim Residence

HS (D) 2874 & No. 503, Jalan Mersing 3 storey Freehold Land - 6,000 7 1,296,833.94 PTD 4161 Township 86000 Kluang shopoffice/ Built-up 9,944 of Kluang District Johor Darul Takzim Bank Premises of Kluang

HS (D) 9406 Nos. 7 & 9 Jalan 2 Units 4 storey Freehold Land - 3,520 7 1,264,201.00 Lot 8226 & PT 4045 SS 15/8A Subang Jaya shopoffice/ Built-up 9,944 HS (D) 9407 Lot 8227 47500 Petaling Jaya Bank Premises & PT 4046 Mukim of Selangor Darul Ehsan Damansara District of Petaling

HS (D) 67041 & 67042 Lot 111 & 112 2 Units 3 storey Freehold Land - 4,659 9 4,361,185.90 PT 3479& 3480 Bangsar Baru, shopoffice/ Built-up 11,858 Mukim of Kuala Lumpur Kuala Lumpur Bank Premises & District of Wilayah DRP Site Persekutuan

HS (M) 4961 PT 457 Nos. 2 & 3 Jalan Saga 2 Units 3 storey Freehold Land - 3,510 5 1.00 HS (M) 4962 PT 458 Taman Saga, shopoffice/ Built-up 11,136 Mukim of Kajang Sungai Chua, Bank Premises District of Ulu Langat Kajang Selangor Selangor Darul Ehsan

HS (M) 195/ 89 Plot 0195 Single storey/ Freehold Land - 16,620 7 148,698.35 PT 10107 HS (M) 4962 Persiaran Cinta Sayang bunglow/ Built-up 1,221 PT 458 Mukim of Taman Ria, Branch Manager’s Sg. Petani District of Sungai Petani Residence Kuala Muda Kedah Darul Aman

GM 2251 & 2252 No. 1317 & 1318 2 Units 3 storey Freehold Land - 2,390 5 673,081.57 Lots 3991 & 3992 Taman Sepakat shopoffice/ Built-up 6,920 Mukim & Daerah Kepala Batas Branch Premises Seberang Perai Utara Pulau Pinang

156 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

Town Lease Lot 19 & 20 Blok K, 2 Units 3 storey Leasehold Land - 2,780 7 2,436,723.70 No. 017541374 & Sadong Jaya Complex shopoffice/ (60 Years) Built-up 10,144 01741383 Jalan Juara Ikan 3 Branch Premises Exp: 2046 Lots 82 & 83 Block K 88300 Kota Kinabalu Mukim of Karamunsing District of Kota Kinabalu

HS (D) 73618 & 73619 Lot 5733 & 5734 2 Units 3 storey Freehold Land - 3,600 6 949,335.98 PT 5733 & 5734 Jalan TS 2/1, shopoffice/ Built-up 10,800 Mukim of Labu, Taman Semarak, Branch Premises Mukim of Seremban Fasa 11, 71800 Nilai Negeri Sembilan Darul Khusus

PTD 112746 & Nos. 40 & 41 Pusat 2 Units 2 storey Freehold Land - 2,800 5 1,132,210.54 112747 Mukim of Perdagangan Pasir shopoffice/ Built-up 4,327 Plentong District of Gudang Johor Branch Premises Johor Bahru, Johor Johor Darul Takzim

HS (D) 71565 PT 338 No. 2 (26/25B) 2 storey Freehold Land - 3,488 6 807,939.92 District of Petaling Jln Hujung Permatang shopoffice/ Built-up 6,976 Mukim of Damansara Section 26 Shah Alam Branch Premises Selangor Darul Ehsan

PT 3636 HS (D) 5167 No. 10 Jalan Todak 1 4 storey Leasehold Land - 3,681 4 2,693,706.48 PT 3637 HS (D) 5168 Pusat Bandar Seberang shopoffice/ (99 Years) Built-up 13,716 Mukim 1, District Seberang Jaya Branch Premises Exp: 2092 Seberang Perai 13700 Perai Tengah, Penang Pulau Pinang

Lots 2387 & 2388 Lots 2387 & 2388 2 Units 3 storey Leasehold Land - 3,190 4 1,685,454.03 Block 5 District of Miri Block A4 Boulevard shopoffice/ (60 Years) Built-up 8,371 Centre, Off Jalan Miri, Branch Premises Exp: 2050 Pujut Sarawak

Precint 3.4, Precint 3.4, Pusat Vacant commercial Freehold Land - 32,561 – 1,891,476.55 Pusat Bandar Shah Alam Bandar Shah Alam Land/ Proposed Seksyen 14 Seksyen 14 Head Quaters Selangor Darul Ehsan

PT 48474 HS (D) 86046 No. 130 & 132 2 Units 3 storey Freehold Land - 5,138 6 2,598,584.58 PT 48475 HS (D) 86047 Jalan Rosmerah 2/17 shopoffice/For Built-up 11,250 Mukim Plentong District Taman Johor Jaya branch relocation of Johor Bahru Phase VI, Johor Bahru Johor Darul Takzim

HS(D) 67774 & 67773 Nos. 47 & 49 2 Units 3 storey Freehold Land - 5,138 9 5,132,953.92 Lot 29427 & 29428 Jalan Tun Mohd Fuad 3 shopoffice/For Built-up 11,250 Mukim Kuala Lumpur Taman Tun Dr. Ismail branch relocation District of State of 60000 Kuala Lumpur Wilayah Persekutuan 157 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

S03 & S04 PT 72 Nos. 3 & 4, Jalan 2 Units 3 storey Freehold Land - 3,532 4 1,454,267.46 HS (D) 7295 Mukim of Penambakan Laut shopoffice/For Built-up 9,900 Port Dickson Bandar Port Dickson branch relocation 71009 Negeri Sembilan Darul Khusus

PT 100479 & PT 100480 Nos. 23 & 25 2 Units 4 storey Freehold Land - 3,840 7 3,005,568.20 Mukim Plentong District Jalan Permas 10/1 shopoffice/ Built-up 16,227 of Johor Bahru Permas Jaya Branch premises Johor Darul Takzim

Lot 2631, Block No.2 Lots 2631 Pujut 7, Double storey Leasehold Land - 6,548 5 331,200.00 Miri Concession Land Pujut Lutong Road Miri, detached house/ (60 Years) Built-up 2,276 Sarawak Sarawak Branch Manager’s Exp: 2055 Residence

PT 20871 & 20872 Nos. 1 & 3, Jalan 2 Units 3 storey Leasehold Land - 4,843 7 5,118,494.65 HS(D) 16878 & 16879 Pandan Indah 4/2 shopoffice/ (99 Years) Built-up 16,227 Mukim of Ampang Pandan Indah Branch premises Exp: 2087 District Ulu Langat 55100 Kuala Lumpur

Lot 1825, Block 10 Lot 1825, Block 10 Double storey Leasehold Land - 7,606 4 257,599.97 Kuching Central Lorong Green 1 bunglow/Branch (60 Years) Built-up 2,500 Kuching Central Manager’s Exp: 2038 Residence

HS (D) 807& 808 No. 55 & 57, 2 Units 4 storey Freehold Land - 4,779.2 14 1,786,975.20 PT 2592 & 2593 Taman Selat shopoffice/ Built-up 13,760 District of Seberang Jalan Bagan Luar Branch premises Perai Utara 12000 Butterworth Pulau Pinang

HS(D) 624 & 625/1986 No. 1515, Lorong Padi 4 storey Leasehold Land - 2,600 14 945,966.80 Lot 66 & 67, Sec. 5 85000 Alor Setar shopoffice/ (30 Years) Built-up 7,800 District of Kota Setar Kedah Darul Aman Branch premises Exp: 2025 Kedah

HS(M) 2926 & 2925 No. 10 & 12 Jalan Radin 2 Units 3 storey Leasehold Land - 3,840 17 713,012.00 PT 21346 & 21345 Tengah Bandar Baru shopoffice/ (99 Years) Built-up 11,520 Lot 66 & 67, Sec. 5 Seri Petaling Branch premises Exp: 2078 Mukim of Petaling 50770 Kuala Lumpur District of W.P.

HS(D) 16521 & 16496 No. 20 & 22 2 Units 3 storey Freehold Land - 3,230 16 1,564,955.50 PT 8192/1367 & Jln 21/22, Sea Park shopoffice/ Built-up 9,750 PT 8912/1366 Mukim of 46730 Petaling Jaya Branch premises Kuala Lumpur District Selangor Darul Ehsan of Petaling

158 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

Town Lease: 107515432 No. TB 281, 282 & 283 3 Units 4 storey Leasehold Land - 6,720 16 1,643,237.09 Town Lease: 107515441 Jalan Haji Karim shopoffice/ (999 Years) Built-up 13,440 Town Lease: 107515430 Town Extension 11 Branch premises Exp: 2895 Mukim of Tawau 91008 Tawau, Sabah

HS(D) 3659 & 3662 Nos. 93A & 93B 2 Units 3 storey Freehold Land - 4,107 16 718,944.80 PT 3227 & 3228 Jalan Rasah shopoffice/ Built-up 8,400 District of Seremban 70470 Seremban Branch premises Negeri Sembilan Darul Khusus

Lot 42262 Mukim of Lot PT 42262 1 Units 4 storey Freehold Land - 2,780 4 2,342,960.91 Klang District of Klang Taman Bayu Perdana shopoffice/ Built-up 11,116 Jalan Kem Chuan Klang Branch premises

HS(D) 51461 & 51462 Bandar Sri Manjalara 2 Units 4 storey Leasehold Land - 3,855 4 1,563,436.06 PT44519 & 44510 52100 Kepong shopoffice/ (49 Years) Built-up 12,435 District of W.P Selangor Branch premises Exp: 2077 Mukim of Batu

HS(D) 4954 & 41955 Unit Nos. 8 & 9 Taming 2 Units 3 storey Freehold Land - 5,965 3 3,543,642.28 PT 24178 & 24179 Permai Business Park shopoffice/ Built-up 16,227 Mukim of Cheras Jalan Balakong Branch premises District of Ulu Langat 43300 Selangor

Lots 175 & 176 Lots 175 & 176 2 adjacent lots Freehold Land - 3,304 3 2,105,366.28 Grant 6787 Mukim of Phase 2, Langkawi Mall 3 storey shopoffice/ Built-up 9,912 Kuah, District of 07000 Kuah, Langkawi Branch premises Langkawi, State of Kedah Kedah

HS(D) 193890 & 193891 Nos. 59 & 61 2 Units 2 storey Freehold Land - 3,080 4 1,306,418.38 PTD 55897 & 55898 Jalan Kebudayaan 4 shopoffice/ Built-up 6,160 Mukim of Kulai, District Taman Universiti Branch premises of Johor Bahru 81300 Skudai, Johor Darul Takzim

HS(D) 25507 PTD 39218 No.27, Jalan Perwira 1 Double storey Freehold Land - 6,000 6 176,194.04 Mukim & District of Taman Titiwangsa bunglow/ Branch Built-up 3,544 Kluang 86000 Kluang Manager’s Residence Johor Darul Takzim

HS(D) 14862 & 14863 29 & 31, Jalan Tiara 3 2 Units 4 storey Leasehold Land - 36,300 3 3,699,291.02 PT 21530 & 21351 Bandar Baru Kelang shopoffice/ (99 Years) Built-up 13,200 Tempat Bukit Raja 41150 Kelang Branch premises Exp: 2093 Mukim of Kampar Selangor Darul Ehsan District of Klang

159 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

Sub-Lot 13, Lot 3060 Lot 13, Phase 1 1 Units 3 storey Leasehold Land - 3,240 1 1,534,694.25 District of Bintulu Commerce Square shopoffice/ (60 Years) Built-up 9,720 Bintulu ParkCity Branch premises Bintulu, Sarawak

PTD 62642 & 62643 Nos. 49 & 51 2 Units 3 storey Leasehold Land - 5,468 3 2,070,024.74 HS(D) 227069 & 227070 Jalan Sri Perkasa 2/1 shophouse/Future (99 Years) Built-up 10,710 Mukim of Kulai District Taman Tampoi Utama branch premises Exp: 2094 of Johor Bahru 81200 Tampoi Johor Darul Takzim

PTD 17855 & 17856 Nos. 18 & 20 2 Units 3 storey Freehold Land - 3,840 18 2,570,760.16 HS(D) 39845 & 39846 Jalan Serampang shopoffice/Branch Built-up 11,520 Mukim of Plentong Taman Pelangi premises relocation District of Johor Bahru Johor Bahru

HS(D) 16728, PTD9887 Nos. 3 & 4 Jalan Merah 2 Units 3 storey Freehold Land - 3,080 10 1,500,739.96 HS(D) 16729, PTD9888 Off Jalan Bukit Pasir shopoffice/Branch Built-up 16,227 Mukim Simpang Kanan Taman Bukit Pasir premises District of Batu Pahat PH1 83000 Batu Pahat Johor Darul Takzim

Lots 436 & 437, Nos. 3788H & 3788I 2 Units 3 storey Freehold Land - 3,200 15 1,826,722.71 Sec.13 Grant 12256 & Sec.13 Jalan Sultan shopoffice/ Built-up 9,152 12257 District of Ibrahim Branch premises Kota Bahru 15050 Kota Bahru Kelantan Darul Naim

PT 288 & 289 Mukim of No. A2 Taman Pangkalan 4 storey Standing Freehold Land - 2,445 4 1,279,528.09 Seriap, District of Asam, 01000 Kangar Building/ Future Built-up 9,677 Pangkalan Asam Perlis Branch premises

GM 92 & 96, Lot 1555 & GM 92 & 96, – Freehold Vacant Land – 16,600,000.00 290 Mukim 13 Lot 1555 & 290 District Timur Laut Mukim 13 Pulau Pinang (Lum Choon District Timur Laut Realty Sdn Bhd) Pulau Pinang

HS(M) 5797/ 5798 Nos. 840 & 842, BT 4 4 storey Building Leasehold Land - 6,670 2 3,097,008.20 PT 6/7 Sek, Mukim of Jalan Ipoh with basement (60 Years) Built-up 9,243 Batu 51200 Kuala Lumpur

Parcel Nos.C7/50/86-2 No. 2 Jalan 1/27F 4 storey Leasehold Land - 4,480 2 4,097,521.51 C7/50/86-1, C7/50/86-4 KLSC Wangsa Maju shopoffice/ Built-up 14,920 & C7/50/86-3 Mukim of 53300 Kuala Lumpur Corner Unit Setapak, District & State of Wilayah Persekutuan

160 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

HS(D) 7156, 7157, No. 7 & 8 Jalan DR 1 2 Units 5 storey Freehold Land - 3,509 4 2,231,110.39 7187 & 7188 Delima Point shopoffice/ Built-up - 17,160 PT 34, 35, 65 & 66 Taman Delima Raya Branch premises Bandar Bt Baru, Sek.11 75150 Melaka District Melaka Tengah

PT 141 & PT 142 Plot 141 & 142 Phase 1 4 storey Freehold Land - 3,930 2 2,255,776.41 Mukim 6 & Mukim 7 Pembangunan Perda shopoffice Built-up 12,181 Seberang Perai Bukit Mertajam Tengah Penang Seberang Perai Tengah

Lot 4/10, Phase 1C, No. 81, 83 & 85, 3 Units 4 storey Leasehold Land - 4,950 5 1,522,654.01 Lot 4/9, Lot 4/8, Jalan 2/3A, shopoffice/ (99 years) Built-up 16,733 HS (D) 52850/PT 3 Sek, Pusat Pasar Borong KM, Branch premises Exp: 2086 HS (D) 52989 & 5249, Jalan Ipoh PT 6621 & 2 Sek 1, 68100 Batu Caves, HS (D) 52988 PT 6620, Kuala Lumpur Mukim of Batu, District Wilayah Persekutuan

Lot 14127 & 14128 Nos. 159 & 161 2 Units 3 storey Leasehold Land - 4,306 12 3,083,758.56 Grants 7792 & 7793 Jalan Genting Kelang shopoffice/ (99 years) Built-up 17,224 Mukim of Setapak 53300 Setapak Branch premises Exp: 2086 District of Kuala Lumpur Kuala Lumpur

Geran 9836, Lot 607 No. 34, Jalan Lumut 4 storey Freehold Land - 1,539 20 1,440,000.04 Town of Kuala Lumpur Kompleks Damai shophouse Built-up 4,000 53000 Kuala Lumpur

Geran 26883 (CT 14640) No. 27 & 29, 2 adjoining Freehold Land - 3,507 20 1,166,400.00 26903 (CT 14641), Jalan Tun Razak intermediate units Built-up 11,000 Lot 334 & 335, Sek 47, 53000 Kuala Lumpur of 4 storey terrace Kuala Lumpur shophouses

HS(D) 4004 PT 1851P, Ground & 9 Storey office/ Freehold Land - 6,400 4 2,259,679.82 Bandar Kuala Terengganu Mezzanine Floor Complex ground Built-up 5,758 Lot 4146, Mezzanine floor Jalan Sultan Ismail Kuala Terengganu

Lot 1, Mukim of Suite B.4, KHTP 5 Shopoffices/ Freehold Land - 9,064.36 2 3,081,513.10 Padang Cina, Business Centre, Commercial Built-up 9,064 District of Kulim Kulim Hi-Tech Park complex/ 09000 Kulim, Kedah (Ground floor)

PTD 50679 & 50680 No. 93 & 94 2 Units 4 storey Freehold Land - 4,607 1 1,465,213.70 Lot 840 & 842 Jalan Kenanga 29/7 shopoffice/ Built-up 17,749 PT 6 & 7 Mukim of Indahpura Branch premises Batu District of 81000 Johor Baharu Johor Baharu Johor 161 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

HS(S) 36840 84 Jalan SS2/60 3 storey building/ Freehold Land - 1,680 19 449,386.000 Lot 25696 Mukim of 47300 Petaling Jaya Branch Premises Built-up 5,040 Kuala Lumpur Selangor Darul Ehsan

HS (D) 810, 61, Jalan Selat 4 storey building/ Freehold Land - 1,841 16 595,662.00 Lot 002595 Taman Selat Branch Premises Built-up 4,698 Bandar Butterworth 12000 Butterworth District of Pulau Pinang Seberang Perai

HS (D) 23625 8A, Jalan Tun Abdul 3 storey building/ Freehold Land - 1,350 17 342,167.00 PBT No. 8367 Razak, Susur 3 Branch Premises Built-up 4,698 Bandar Johor Bahru 80200 Johor Bahru Johor Darul Takzim

Town Lease Lot No. 72, Block J 4 storey building/ Leasehold Land - 1,150 12 678,476.00 No. 017541276 Sadong Jaya Branch Premises (999 Years) Built-up 4,726 District of Karamunsing Exp: 2902 Kota Kinabalu 80200 Kota Kinabalu Sabah

Town Lease Lot No. 1, Block B 4 storey building/ Leasehold Land - 1,200 23 355,394.00 No. 077527176 Bandar Ramai-Ramai Branch Premises (999 Years) Built-up 4,608 District of Sandakan Mile 1, Jalan Leila Exp: 2885 90000 Sandakan Sabah

Town Lease Lot. No.2, Block M 4 storey building/ Leasehold Land - 1,200 23 494,746.02 No. 107522485 Bandar Sabindo Branch Premises (99 Years) Built-up 4,680 District of Tawau Mile 1, Jalan Leila Exp: 2071 91000 Tawau Sabah

L14608/83 Lot 117, Section 12 4 storey building/ Leasehold Land - 1,400 18 382,014.00 Bandar Kuching Bangunan Ejawaris Branch Premises (99 Years) Built-up 5,600 Jalan Haji Taha Exp: 2037 93400 Kuching, Sarawak

TL No. 492 (1) Lot 516, Block 9 3 storey building/ Leasehold Land - 1,181 12 447,531.00 District of Miri Jalan Merbau Branch Premises (60 Years) Built-up 3,540 98000 Miri, Sarawak Exp: 2048

TL No. 1147 21, Bintulu Town 4 storey building/ Leasehold Land - 1,300 12 509,633.00 Lot 2307, Extension Centre Branch Premises (60 Years) Built-up 5,048 District of 97000 Bintulu, Exp: 2044 Bandar Bintulu Sarawak

HS (D) 4519 118, Taman Melaka Raya 3 storey building/ Leasehold Land - 1,600 18 260,781.38 Lot No. PT 21 Jalan Taman Branch Premises (99 Years) Built-up 4,500 District of Melaka 75000 Melaka Exp: 2076 Tengah, Bandar Melaka 162 PARTICULARS OF PROPERTIES (CONTINUED)

Approx. Net Description/ Age of Book Existing Site Area Buildings Value Title/Lot No. Location Use Tenure (Sq. ft) (Years) (RM)

ACF 200 & 201 200 & 201 2 unit 3 storey Leasehold Land - 4,430 20 637,668.71 Taman Melaka Raya Taman Melaka Raya shopoffice/ Exp: 2075 Built-up 10,031 Off Jalan Parameswara Off Jalan Parameswara Branch Premises 75000 Melaka 75000 Melaka

21-B, Jalan Ibrahim 21-B, Jalan Ibrahim 4 storey Leasehold Land - 2,000 14 382,506.33 08000 Sungai Petani 08000 Sungai Petani shophouse/ Exp: 2080 Built-up 6,540 Kedah Kedah Branch Premises

161 Jalan SS2/2 161 Jalan SS2/2 3 storey Freehold Land - 2,268 20 958,227.35 47300 Petaling Jaya 47300 Petaling Jaya shophouse/ Built-up 8,622 Selangor Selangor Branch Premises

92 Jalan Banggol 92 Jalan Banggol 4 storey Freehold Land - 1,400 19 397,827.07 20100 Kuala Terengganu 20100 Kuala Terengganu shophouse/ Built-up 5,480 Terengganu Terengganu Branch Premises

21-21A 21-21A Jalan Raja Jalil 2 storey Freehold Land - 1,999 14 166,416.72 Jalan Raja Jalil 45000 Kuala Selangor shophouse/ Built-up 3,855 45000 Kuala Selangor Branch Premises

31 Jalan Tun Ismail 31 Jalan Tun Ismail 3 storey Freehold Land - 1,600 20 336,500.00 25000 Kuantan, Pahang 25000 Kuantan shophouse/ Built-up 6,120 Pahang Branch Premises

157 Jalan Kota 157 Jalan Kota 3 storey Freehold Land - 1,700 24 317,666.71 34000 Taiping Perak 34000 Taiping Perak shophouse/ Built-up 4,960 Branch Premises

12 Jalan Kong Sang 12 Jalan Kong Sang 3 storey Freehold Land - 1,875 20 458,333.36 70000 Seremban 70000 Seremban shophouse/ Built-up 4,703 Negeri Sembilan Negeri Sembilan Branch Premises

100 Jalan Othman (1/14) 100 Jalan Othman (1/14) 3 storey Leasehold Land - 1,650 7 738,240.55 46000 Petaling Jaya 46000 Petaling Jaya shophouse/ Exp: 2089 Built-up 4,620 Selangor Selangor Branch Premises

Lots 247 & 248 Lots 247 & 248 2 unit shophouse/ Leasehold Land - 2,500 12 753,357.43 Sec. 49 KTLD Sec. 49 KTLD Branch Premises Exp: 2044 Built-up 4,620 Jalan Tunku Abdul Jalan Tunku Abdul Rahman Rahman 93100 Kuching Sarawak 93100 Kuching Sarawak

Lot 14, Block B Mdid Lot 14, Block B Mdid 3 storey shophouse/ Leasehold Land - 1,200 5 592,965.38 3679 Metro 3679 Metro Branch Premises Exp: 2085 Built-up 3,600 Commercial Complex Commercial Complex 91110 Lahad Datu Sabah 91110 Lahad Datu Sabah

163 SHAREHOLDING STATISTICS AS AT 30 April 2001

ORDINARY ORDINARY SHAREHOLDERS SHARE HELD Size of Holdings Number % Number %

12,347 100.00 922,655,003 100.00

Each ordinary share is entitled to one vote.

TWENTY LARGEST SHAREHOLDERS No. of Shares %

TOTAL 785,541,656 85.15

SUBSTANTIAL SHAREHOLDERS

1. Lembaga Tabung Angkatan Tentera 378,948,995 41.07 2. Boustead Holdings Berhad 261,785,502 28.37 3. Employees Provident Fund Board 74,538,000 8.08

164 BORANG PROKSI AFFIN HOLDINGS BERHAD (Diperbadankan di Malaysia) No. Syarikat: 23218W

Saya/Kami ...... (Nama Penuh dalam Huruf Besar) sebagai ahli/ahli-ahli AFFIN HOLDINGS BERHAD dengan ini melantik ......

...... dari ...... atau jika beliau tidak dapat hadir, ...... dari ...... atau jika beliau tidak dapat hadir, PENGERUSI MESYUARAT sebagai proksi saya/kami untuk mengundi bagi pihak saya/kami di Mesyuarat Agung Tahunan Syarikat yang akan diadakan pada hari Rabu bersamaan 6 Jun 2001 pukul 10.00 pagi di Tingkat 13, Bangunan LTAT, Jalan Bukit Bintang, 55100 Kuala Lumpur dan pada sebarang penangguhannya.

Proksi saya/kami hendaklah mengundi seperti ditunjukkan di bawah:

Resolusi Menyokong Menentang

1. Untuk menerima dan meluluskan Laporan Tahunan dan Akaun-Akaun

2. Untuk meluluskan Pembayaran Dividen Terakhir sebanyak 1% ditolak 28% cukai pendapatan

Untuk memilih semula Pengarah berikut: 3. YBhg. Mej. Jen (B) Dato’ Mohamed Isa bin Che Kak

Untuk memilih Pengarah berikut: 4. YBhg. Lt Jen (B) Dato’ Seri Abdul Ghani bin Abdul Aziz

5. Untuk meluluskan Yuran Para Pengarah

6. Perlantikan Semula Juruaudit

7. Meluluskan Pengarah untuk mengumpuk dan menerbitkan Saham

JUMLAH SAHAM DIMILIKI

Tandatangan/Cop Mohor ......

Ditandatangani pada ...... 2001

NOTA: 1. Proksi tidak semestinya pemegang saham Syarikat. 2. Suratcara melantik seorang individu sebagai proksi hendaklah ditandatangani oleh orang yang melantiknya atau peguamnya dan bagi perlantikan sebuah perbadanan, suratcara perlantikannya hendaklah dimeterai dengan cop mohor bagi pihaknya oleh peguamnya atau pegawai perbadanan yang diberi kuasa berbuat demikian. 3. Untuk menjadikan proksi itu sah, borang hendaklah dihantar kepada pejabat berdaftar syarikat tidak kurang daripada empat puluh lapan jam sebelum bermulanya mesyuarat. 165 PROXY FORM AFFIN HOLDINGS BERHAD (Incorporated in Malaysia) Company No.: 23218W

I/We ...... (Full Name in Block Capitals)

being a member/members AFFIN HOLDINGS BERHAD hereby appoint ......

......

of ......

or failing him, ......

of ...... or failing him the CHAIRMAN OF THE MEETING as my/our proxy to vote for me/us on my/our behalf at the Annual General Meeting of the Company to be held on Wednesday, 6 June 2001 at 10.00 a.m. at 13th Floor, Bangunan LTAT, Jalan Bukit Bintang, 55100 Kuala Lumpur and at any adjournment thereof.

My/our proxy is to vote as indicated below:

Resolution For Against

1. To receive and adopt the Annual Report and Accounts

2. To approve a final Dividend of 1% less 28% income tax

To re-elect the following Director: 3. YBhg. Maj. Gen (R) Dato’ Mohamed Isa bin Che Kak

To elect the following Director: 4. YBhg. Lt Gen (R) Dato’ Seri Abdul Ghani bin Abdul Aziz

5. To approve Directors' Fee

6. Reappointment of Auditors

7. Approval for Directors to allot and issues shares

NUMBER OF SHARES HELD

Signature/Seal ......

Signed this ...... day of ...... 2001

NOTE: 1. A proxy need not be a member of the Company. 2. An instrument appointing a proxy in the case of an individual shall be signed by the appointer or his attorney and in the case of a corporation, shall be either under its common seal or signed on its behalf by an attorney or officer of the corporation so authorised. 3. In order for this proxy to be valid, it must be lodged at the registered office of the Company not less than forty-eight hours before the time of the meeting.

166