Satang Jaya Holdings Berhad (633265-K) 31
review of operations Ulasan operasi Satang Jaya Holdings Berhad (633265-K) 32
review of operations Ulasan operasi
SATANG ENVIRONMENTAL SDN BHD Satang Environmental Sdn Bhd (SESB) complements the Satang Environmental Sdn Bhd (SESB) melengkapkan existing business nature of Satang Jaya Group and continued perniagaan Kumpulan Satang Jaya yang sedia ada dan terus to expand as an environmental integrated solutions provider, berkembang sebagai juruperunding alam sekitar yang offering products and services for diversified environmental bersepadu dan menawarkan produk dan perkhidmatan untuk related applications. pelbagai aplikasi berkaitan alam sekitar.
SESB provides consultation and training for Environmental SESB menyediakan perkhidmatan juruperunding dan Management Systems and other related services. During latihan untuk Sistem Pengurusan Alam Sekitar dan lain-lain the period under review, SESB is also actively promoting perkhidmatan yang berkaitan. Semasa tempoh penilaian Bio-Technology Applications, Renewable Energy Applications tahun kewangan dilakukan, SESB juga aktif mempromosi (REA), Remote Telemetry Applications (RTA), Environmental Aplikasi Bio-Teknologi, Aplikasi Tenaga Diperbaharui, Database Management Applications and Integrated Aplikasi Telemetri Terpencil, Aplikasi Pengurusan Pangkalan Environmental Services. Data untuk Alam Sekitar and Perkhidmatan Alam Sekitar yang bersepadu. With the increasing focus on “green” technologies and a need to operate in an environmentally responsible manner Dengan memberikan fokus terhadap teknologi “hijau” dan globally, there has also been a steady growth in Malaysia keperluan untuk beroperasi secara bertanggungjawab di for related studies required by both the private and public dalam persekitaran alam sekitar global, di Malaysia terdapat sector which Satang Environmental has performed such as pertumbuhan yang berterusan untuk kajian-kajian berkaitan Environmental Impact Assessments (EIA) for river, marine yang diperlukan oleh kedua-dua sektor awam dan swasta and costal areas and waste management analysis. di mana SESB telah melaksanakan Penilaian Impak Alam Sekitar untuk sungai, marin dan kawasan pantai dan Analisis SESB went through a re-structuring exercise during the Pengurusan Sampah. financial year to prepare for further growth and exciting new activities such as plans to have its own laboratory to provide SESB telah melakukan pengstrukturan semula semasa tahun independent analytical services tailored for either routine kewangan untuk pertumbuhan dan aktiviti-aktiviti baru yang analysis or prompt attendance to client’s analytical needs. memberangsangkan seperti perancangan untuk mengadakan The facility will also provide services which will cater to the makmal untuk memberi khidmat analisis bebas mengikut specific requirements of the clients who come from various keperluan samada untuk analisis rutin atau perhatian segera industries such as manufacturing, construction, shipbuilding terhadap keperluan analisis pelanggan. Fasiliti ini juga akan and the petrochemical industry. menyediakan perkhidmatan yang memenuhi keperluan spesifik pelanggan yang datang dari pelbagai industri seperti perkilangan, pembinaan, pembinaan kapal dan industri petrokimia. Satang Jaya Holdings Berhad (633265-K) 33
review of operations Ulasan operasi Satang Jaya Holdings Berhad (633265-K) 34
review of operations Ulasan operasi
SATANG – ICS GLOBAL SDN BHD Satang-ICS Global Sdn Bhd (SIGSB) was incorporated during Satang-ICS Global Sdn Bhd (SIGSB) telah diperbadankan the period under review. SIGSB offers an exciting new area semasa penilaian tahun kewangan. SIGSB menawarkan of diversification for the Group by supplying and servicing bidang baru yang memberansangkan dan kepelbagaian untuk the pipe line products. Kumpulan dengan membekal dan memberi perkhidmatan untuk produk paip. It offers a revolutionary range of air tools for the cleaning of hoses, tubes and pipes for a wide range of industries Ia menawarkan pelbagai ‘revolutionary range of air tools’ which uses a pneumatic pellet, as well as a chemical closed untuk membersihkan hos, tiub dan paip yang digunakan system internal pipe and tube cleaning system. Through oleh pelbagai industri dengan menggunakan palet pneumatik, its appointed distributors, SIGSB has introduced its pellet juga sistem tertutup kimia untuk paip dalaman dan sistem launching pipe cleaning equipments to the Malaysia’s food pembersihan tiub. Melalui pengedar yang dilantik, SIGSB & beverages, chemicals, palm oils, palm oleo, pharmaceutical, telah memperkenalkan pelancar palet pneumatik pembersih packaging, textile and automotive industry. perkakasan untuk industri makanan dan minuman, kimia, minyak kelapa sawit, palma “oleo”, farmasi, pembungkusan, Satang-ICS Global offers the Group excellent prospects tekstil dan otomotif Malaysia. both locally and abroad market with its revolutionary and environment friendly products. SIGSB menawarkan kepada Kumpulan prospek yang amat baik untuk pasaran tempatan dan luar negara dengan produk yang revolusioner dan mesra alam. Satang Jaya Holdings Berhad (633265-K) 35
review of operations Ulasan operasi Satang Jaya Holdings Berhad (633265-K) 36
Calendar of Significant Events Kalendar Peristiwa-peristiwa Penting
Corporate Activities
Aktiviti-aktiviti Korporat A B C
A A Product Launch – Satang Jaya ARTHUR’S Safety Apparels, at Crown Princess Hotel, Kuala Lumpur on 4th October 2005. Pelancaran Produk – Pakaian Keselamatan ARTHUR Satang Jaya di Hotel Crown Princess, Kuala Lumpur pada 4 Oktober 2005.
B Briefing and handover of final report on the Development of Decision Support System (DSS) for an Integrated Environmental Management Program (EMP) Phase I for Pulau
Payar Marine Park by Satang Environmental Sdn Bhd to YAB Dato’ Seri Mahdzir bin Khalid, D Menteri Besar of Kedah and the members of Kedah Darul Aman’s Executive Council on 19th October 2005. Majlis taklimat dan penyerahan laporan kajian ‘Development of Decision Support System (DSS) for an Integrated Environmental Management Program (EMP) Phase I’ untuk Taman Laut Pulau Payar oleh Satang Environmental Sdn Bhd kepada YAB Dato’ Seri Mahdzir bin Khalid, Menteri Besar Kedah dan Exco-exco kerajaan negeri pada 19 Oktober 2005.
C Satang Jaya Holdings Berhad 2nd Annual General Meeting was held on 27th December 2005 at Kuala Lumpur Golf and Country Club. E Mesyuarat Agung Tahunan Kedua Satang Jaya Holdings Berhad telah diadakan pada 27 Disember 2005 di Kuala Lumpur Golf and Country Club.
D New Year Message by Satang Jaya Holdings Berhad Executive Chairman on 19th January 2006. Majlis Perutusan Tahun Baru oleh Pengerusi Eksekutif Satang Jaya Holdings Berhad pada 19 Januari 2006.
E Management’s Retreat 2006 “The Way Forward” from 17th to 19th February 2006 at Strawberry Park Resort, Cameron Highlands. Program ‘Management Retreat 2006’ dengan tajuk ‘The Way Forward’ dari 17 hingga 19 F Februari 2006 di Strawberry Park Resort, Cameron Highlands.
F A Memorandum of Understanding Signing Ceremony between Satang Environmental Sdn Bhd and IIUM Envirotech Sdn Bhd on 16th March 2006 at Marriot Hotel, Putrajaya. Upacara Menandatangani Memorandum Persefahaman di antara Satang Environmental Sdn Bhd dan IIUM Envirotech Sdn Bhd pada 16 Mac 2006 di Hotel Marriot, Putrajaya.
G Management Talk and the Launch of Satang Jaya New Website and Intranet on 3rd July 2006 at Intekma Resort and Convention Centre, Shah Alam. Program Wacana Pengurusan dan Pelancaran Laman Web dan Intranet Satang Jaya pada G 3 Julai 2006 di Intekma Resort and Convention Centre.
H JV Agreement Signing Ceremony between Satang Jaya Sdn Bhd and ICS Global Holdings Sdn Bhd to establish Satang-ICS Global Sdn Bhd was held on 7th September 2006 at Bukit Jelutong Technology Park, Shah Alam. Upacara Menandatangani Perjanjian Usaha Sama di antara Satang Jaya Sdn Bhd dan ICS Global Holdings Sdn Bhd untuk menubuhkan Satang-ICS Global Sdn Bhd telah diadakan pada 7 September 2006 di Bukit Jelutong Technology Park, Shah Alam. H Satang Jaya Holdings Berhad (633265-K) 37
Calendar of significant events Kalendar peristiwa-peristiwa penting
Exhibitions/ Demonstrations
Pameran/ Demonstrasi A B
A Satang Jaya Holdings Berhad participated and displayed Fire protection products and equipments during Petronas Group HSE Forum and Exhibition 2005 on 18th and 19th July 2005. Satang Jaya Holdings Berhad menyertai pameran peralatan dan produk perlindungan kebakaran semasa ‘Petronas Group HSE Forum and Exhibition 2005’ pada 18 dan 19 Julai 2005.
B A LUKAS Rescue Tools Demonstration was held at Civil Defence Department, Jalan Padang Tembak on 20th September 2006 and Jabatan Bomba & Penyelamat Malaysia, Putrajaya on 21st September 2005. Demonstrasi Peralatan Penyelamat LUKAS telah diadakan di Jabatan Pertahanan Awam, Jalan Padang Tembak pada 20 September 2006 dan di Jabatan Bomba & Penyelamat C Malaysia, Putrajaya pada 21 September 2005.
C Satang Jaya Holdings Berhad participated in the Langkawi Airshow 2005 from 6th to 11th December 2005. SJHB received visits from many local and overseas dignitaries. Penyertaan Satang Jaya Holdings Berhad di Pameran Antarabangsa Aero-angkasa dan Maritim Langkawi 2005 dari 6 hingga 11 Disember 2005. SJHB menerima kunjungan orang kenamaan dari luar dan dalam negara.
D Satang Jaya Holdings Berhad participated in the recent 10th Defence Services Asia (DSA 2006) from 24th to 27th April 2006 at the APAC Exhibition Centre, Subang. SJHB won the D Best Booth for Category “C”. Penyertaan Satang Jaya Holdings Berhad di ‘10th Defence Services Asia (DSA 2006)’ dari 24 hingga 27 April 2006 di APAC Exhibition Centre, Subang. SJHB memenangi Ruang Pameran Terbaik bagi Kategori C.
E Satang Jaya Holdings Berhad participated in the Malaysian Official Fire Protection & Rescue Expo and Conference from 27th to 30th June 2006 at the Kuala Lumpur Convention Centre. Satang Jaya won the Best New Product Award for Stabfast,
Algebra products. E Penyertaan Satang Jaya Holdings Berhad semasa ‘Malaysian Official Fire Protection & Rescue Expo and Conference’ dari 27 hingga 30 Jun 2006 di Kuala Lumpur Convention Centre. SJHB memenangi Anugerah Produk Baru Terbaik untuk produk Stabfast, Algebra.
F Satang Jaya Holdings Berhad sponsored LUKAS Rescue Tools and Stabfast Shoring Equipments at the Ministry of Internal Affairs, Putrajaya during the closing ceremony of SMART Team New Recruit Training on 2nd July 2006. Satang Jaya Holdings Berhad telah menaja ‘LUKAS Rescue Tools and Stabfast Shoring Equipments’ di Kementerian Hal-Ehwal Dalam Negeri, Putrajaya semasa upacara penutup F Latihan Pasukan Rekrut Baru SMART pada 2 Julai 2006. Satang Jaya Holdings Berhad (633265-K) 38
Calendar of significant events Kalendar peristiwa-peristiwa penting
Visits
Lawatan
A B C
A A visit from YBhg Major General Dato’ Bashir bin Hj Abu Bakar RMAF, Commander No. 1, Air Division, Royal Malaysian Air Force on 23rd December 2005. Lawatan daripada YBhg Mejar Jeneral Dato’ Bashir bin Hj Abu Bakar TUDM, Panglima 1, Divisyen Udara, Tentera Udara DiRaja Malaysia pada 23 Disember 2006.
B A visit from YBhg Col. Salih bin Abdul Rahim, Head of EME Corp and YBhg Col. Haji Abdul Malik bin Haji Amid, Head of Services Corp Group from HQ Army Logistics Command on
23rd March 2006. D Lawatan YBhg Kol. Salih bin Abdul Rahim, Ketua Kumpulan JLJ dan YBhg Kol. Haji Abdul Malik bin Haji Amid, Ketua Kumpulan Kor Perkhidmatan daripada Markas Logistik Tentera Darat pada 23 Mac 2006.
C A visit from YBhg Tuan Haji Roslend bin Mansor, the Deputy Under Secretary Procurement “B”, Procurement Division, Ministry of Defence on 20th March 2006. Lawatan daripada YBhg Tuan Haji Roslend bin Mansor, Timbalan Setiausaha Perolehan B, Bahagian Perolehan, Kementerian Pertahanan pada 20 Mac 2006.
D A visit from representative from Zodiac Aerazur, France on 21st June 2006. E Lawatan daripada wakil Zodiac Aerazur, France pada 21 Jun 2006.
E A visit from Mr. Roberto Pierdominici, Regional Sales Director, Mr. Eurico Fussati, Head of Industries Cooperation and Life Cycle Cost and Mr. Gianluca Sperotto, Head of Customer Services of Aermacchi S.P.A Italy to discuss possible transfer of technology on 21st June 2006. Lawatan daripada Mr. Roberto Pierdominici, Pengarah Jualan Kawasan, Mr. Eurica Fussati, Ketua Industries Cooperation and Life Cycle Cost dan Mr. Gianluca Sperotto, Ketua Khidmat Pelanggan Aermacchi S.P.A Italy bagi membincangkan potensi pemindahan teknologi pada 21 Jun 2006. F
F A visit from Mr. Mark Brooks, Customer Support Manager MOOG Aircraft Group, United Kingdom and Mr. Shashi Nadesu, Regional Manager, MOOG Customer Supports, Singapore on 14th September 2006. Lawatan daripada Mr. Mark Brooks, Pengurus Bantuan Pelanggan, MOOG Aircraft Group, United Kingdom dan Mr. Shashi Nadesu, Pengurus Kawasan, Bantuan Pelanggan MOOG, Singapura pada 14 September 2006. Satang Jaya Holdings Berhad (633265-K) 39
Calendar of significant events Kalendar peristiwa-peristiwa penting
Sports Activities
Aktiviti-aktiviti Sukan A B C
A An Annual Bowling Tournament 2006 between “Kelab Kakitangan Awam KEMENTAH” and Satang Jaya Holdings Berhad was held on 19th March 2006 at Shah Alam Bowling Centre. Pertandingan Boling Tahunan 2006 di antara Kelab Kakitangan Awam KEMENTAH dan Satang Jaya Holdings Berhad telah diadakan pada 19 Mac 2006 di Shah Alam Bowling Centre. D
B Annual Golf Tournament between Royal Malaysian Air Force and Satang Jaya was held on 12th November 2005 at Glenmarie Golf and Country Club, Subang. The Chief of Air Force, YBhg Dato’ Sri Nik Ismail bin Nik Mohamed RMAF attended. Pertandingan Golf Tahunan di antara Tentera Udara DiRaja Malaysia dan Satang Jaya telah diadakan pada 12 November 2005 di Glenmarie Golf and Country Club, Subang. Turut hadir ialah Panglima Tentera Udara, YBhg Dato’ Sri Nik Ismail bin Nik Mohamed TUDM.
C Satang Jaya Holdings Berhad was the main sponsor for Subang Air Base Satang Jaya Tens E Rugby Tournament 2006 held at Rugby Arena, Subang Air Base on 6th and 7th May 2006. Team from Kor JLJ DiRaja (Army) was the champion. Satang Jaya Holdings Berhad adalah penaja utama bagi Kejohanan Ragbi Terbuka 2006 yang berlangsung di Arena Ragbi Pangkalan Udara Subang pada 6 hingga 7 Mei 2006. Pasukan Kor JLJ DiRaja (Darat) telah menjuarai kejohanan.
D Satang Jaya Holdings Berhad was the main sponsor for the 14th Satang Jaya SMSS Rugby Tens held at Sekolah Menengah Sains Selangor on 27th June 2006. A press conference was held at Sekolah Menengah Sains Selangor. F Satang Jaya Holdings Berhad adalah penaja utama untuk ‘14th Satang Jaya SMSS Rugby Tens’ yang diadakan di Sekolah Menengah Sains Selangor pada 27 Jun 2006. Sidang akhbar telah diadakan di sekolah yang sama.
E Satang Jaya Holdings Berhad was the main sponsor for the 14th Satang Jaya SMSS Rugby Tens held at Sekolah Menengah Sains Selangor on 27th June 2006. Satang Jaya Cup was won by Sekolah Sukan Bandar Penawar, Johor Darul Takzim. Satang Jaya Holdings Berhad adalah penaja utama bagi ‘14th Satang Jaya SMSS Rugby Tens’ yang telah diadakan di Sekolah Menengah Sains Selangor pada 27 Jun 2006. Piala Satang Jaya telah dimenangi oleh Sekolah Sukan Bandar Penawar, Johor Darul Takzim.
F Friendly Football Match between Procurement Division, Ministry of Defence and Satang Jaya was held on 19th August 2006 at MINDEF Stadium, Jalan Padang Tembak, Kuala Lumpur. Satang Jaya 7 and PERO 1. Perlawanan Bola Sepak Persahabatan di antara Bahagian Perolehan, Kementerian Pertahanan dan Satang Jaya telah diadakan pada 19 Ogos 2006 di Stadium KEMENTAH, Jalan Padang Tembak, Kuala Lumpur. Keputusannya, Satang Jaya 7 dan PERO 1. Satang Jaya Holdings Berhad (633265-K) 40
Calendar of significant events Kalendar peristiwa-peristiwa penting
Social Activities
Aktiviti-aktiviti Sosial A B C
A Colonel (Honorary) Jamaluddin bin Hassan RMAF, Executive Chairman, Satang Jaya Holdings Berhad had an audience with KDYMM Sultan Kedah, Sultan Abdul Halim Mu’adzam Shah ibni Al-Marhum Sultan Badlishah on 20th September 2005 at Istana Anak Bukit, Alor Setar to present a cheque to the poor and deprived in Kedah Darul Aman to assist with their Hari Raya preparations. Kolonel (Kehormat) Jamaluddin bin Hassan TUDM, Pengerusi Eksekutif Satang Jaya Holdings Berhad telah mengadap KDYMM Sultan Kedah, Sultan Abdul Halim Mu’adzam Shah ibni Al-Marhum Sultan Badlishah pada 20 September 2005 di Istana Anak Bukit, Alor D Setar untuk menyerahkan cek sumbangan kepada golongan miskin di Kedah Darul Aman bagi membantu persediaan Hari Raya.
B Satang Jaya Holdings Berhad held the annual “Majlis Berbuka Puasa” at Kuala Lumpur Air Base, Sungai Besi on 27th October 2005. Satang Jaya Holdings Berhad telah mengadakan Majlis Berbuka Puasa tahunan di Pangkalan Udara Kuala Lumpur, Sungai Besi pada 27 Oktober 2005.
C Satang Jaya Aidil Fitri Open House was held on 26th November 2005. E Rumah Terbuka Aidilfitri Satang Jaya telah diadakan pada 26 November 2005.
D Allahyarham Saiful Hairi bin Seman passed away on 30th January 2006. He was the administration clerk at Satang Jaya Subang Branch. Satang Jaya presented a cheque amounting to RM130,000.00 to the late Saiful’s parents on 11th July 2006. Allahyarham Saiful Hairi bin Seman yang meninggal dunia pada 30 Januari 2006 adalah seorang kerani pentadbiran di Satang Jaya Cawangan Subang. Pada 11 Julai 2006 berlangsung upacara penyerahan cek berjumlah RM130,000.00 kepada keluarga allahyarham.
E The late Jues anak Jonus passed away on 9th June 2006. He was a Technician at Satang Jaya Kuching Branch. Satang Jaya presented a cheque amounting to RM100,000.00 to the late Jues’ family on 14th August 2006. Mendiang Jues anak Jonus, seorang juruteknik di Satang Jaya Cawangan Kuching, telah meninggal dunia pada 9 Jun 2006. Upacara penyerahan cek berjumlah RM100,000.00 kepada keluarga mendiang telah diadakan pada 14 Ogos 2006. Satang Jaya Holdings Berhad (633265-K) 41
Calendar of significant events Kalendar peristiwa-peristiwa penting
Internal Training/ Courses
Latihan Dalaman/ Kursus A B C
A Training on the Maintenance of Benthos Remote Operated Vehicle Type MiniRover MKII from 28th to 30th November 2005. Course conducted by Mr. Chan Kwong Chuen from Sea and Land Technologies Pte Ltd Singapore. Kursus Penyelenggaraan ‘Benthos Remote Operated Vehicle Type MiniRover MKII’ dari 28 hingga 30 November 2005. Kursus dikendalikan oleh En. Chan Kwong Chuen daripada Sea and Land Technologies Pte Ltd Singapore.
B Working towards Excellence in Corporate Culture course for all staff of Satang Jaya D Group was held in stages for all Satang Jaya branches from 13th January to 12th February 2006. Kursus Kecemerlangan Kerja dalam Budaya Korporat untuk semua kakitangan Kumpulan Satang Jaya telah diadakan secara berperingkat untuk semua cawangan Satang Jaya dari 13 Januari hingga 12 Februari 2006.
C Wet Dinghy Drill Training was conducted by Satang Jaya Alor Setar Branch for 10 trainers and 69 training pilots from Royal Malaysian Air Force at UUM Swimming Centre, Sintok, Kedah Darul Aman on 24th February and 15th March 2006. Kursus ‘Wet Dinghy Drill’ telah dikendalikan oleh Satang Jaya Cawangan Alor Setar untuk E 10 pelatih dan 69 juruterbang pelatih daripada Tentera Udara DiRaja Malaysia di UUM Swimming Centre, Sintok, Kedah Darul Aman pada 24 Februari dan 15 Mac 2006.
D The MI-171 Emergency Floatation System Maintenance Training was conducted by Mr. A A Smolin, the Chief of Warranty Maintenance Team from Ulan Ude Aviation Plant, Russia (manufacturer of the floatation system) from 2nd to 5th March 2006. Latihan ‘MI-171 Emergency Floatation System Maintenance’ telah dikendalikan oleh Mr. A A Smolin, Ketua ‘Warranty Maintenance Team’ daripada Ulan Ude Aviation Plant, Rusia (pengilang sistem pengapungan) dari 2 hingga 5 Mac 2006. F E RFD-Beaufort Refresher Course and SAR Life Raft Servicing Course conducted by Mr. Colin McFarlaine from Marinair Holdings Sdn Bhd from 17th to 21st April 2006 at Satang Jaya Subang Branch. Kursus Ulang Kaji RFD-Beaufort dan Perkhidmatan Rakit Keselamatan SAR dikendalikan oleh Mr. Colin McFarlaine daripada Marinair Holdings Sdn Bhd dari 17 hingga 21 April 2006 di Satang Jaya Cawangan Subang.
F Tree Escape Training for PC-7 MK1 Flight Trainer conducted by Satang Jaya Alor Setar
Branch on 22nd August 2006. G Latihan ‘Tree Escape’ untuk Pelatih Penerbangan PC-7 MK1 dikendalikan oleh Satang Jaya Cawangan Alor Setar pada 22 Ogos 2006.
G Wet Dinghy Drill Sea Survival Course for Pulautibang Series 37/2006 for 5 Pulautibang Dua trainer and 36 Flight Quarter Master trainee from 7th to 10th September 2006 at Pantai Chenang, Langkawi. Kursus Ikhtiar Hidup Laut ‘Wet Dinghy Drill’ untuk Siri 37/2006 Pulautibang untuk 5 pelatih Pulautibang Dua dan 36 pelatih ‘Flight Quarter Master’ dari 7 hingga 10 September 2006 di Pantai Chenang, Langkawi. Satang Jaya Holdings Berhad (633265-K) 42
Corporate Governance Statement
The Board acknowledges that the practice of good corporate Supply of Information governance is an essential part in the Group’s continued growth An agenda of Board items and the Board papers were provided and success. Hence, the Board remains committed to attaining high to all Board members ahead of the scheduled meetings, thus standards of corporate governance within the Group through its allowing sufficient time for detailed review and consideration support and application of the Principles of good governance set of the documents beforehand. The Board has the right to make out in Part 1 and Best Practices good governance set out in Part 2 further enquiries where necessary. All Directors have unrestricted of the Malaysian Code on Corporate Governance (the Code). access to all information within the Company necessary for the discharge of their responsibilities. The Board also has access to Set out below is a statement which outlines the application of the the advice and services of the Company Secretary and may seek various Principles and complied with the Best Practices in the Code, independent advice, in furtherance of their duties if so required. by the Group throughout the year ended 30 September 2006. The Board held six (6) meetings during the financial year ended 30 September 2006. BOARD OF DIRECTORS Appointments to the Board Board Balance A formal procedure is in place for appointments to the Board. The Board consists of eight (8) members, who comprise of one The Nomination Committee is empowered the responsibility (1) Executive Chairman/Managing Director, four (4) Executive of identifying and recommending candidates to the Board Directors and three (3) Independent Non-Executive Directors. for directorship, which comprises of three (3) Independent The profiles of these Board members are in pages 16 to 21. Non-Executive Directors.
The Executive Chairman/Managing Director is responsible in The Board, through the Nomination Committee, reviews annually overseeing the day to day operations of the Group and implementing its required mix of skills, expertise, attributes and core competencies the policies and strategies adopted by the Board. The Executive from its Directors. In addition, this Committee also assesses Chairman/Managing Director’s knowledge of the Group’s affairs the effectiveness of the Board as a whole and the contribution of contributes significantly towards the accomplishment of the Group’s each Director. goals and objectives. Directors’ Training The Executive Directors contributing to the formulation of policy All the Directors of the Company have attended the Mandatory and decision-making through their own knowledge and experience Accreditation Programme and will continue to attend other relevant of other businesses and sectors. The Independent Non-Executive training programmes on a continuous basis to keep abreast with Directors bring independent judgement to the decision-making developments in the business and regulatory environment, as well process to safeguard the interests of the shareholders and other as to comply with the Listing Requirements of Bursa Malaysia stakeholders. Securities Berhad.
The details of Directors’ attendances are set out below: Re-election of Directors Name of Directors No. of In accordance with the Company’s Articles of Association, all meetings attended Directors who are appointed by the Board are subject to election by shareholders at the first Annual General Meeting after their Colonel (Honorary) Jamaluddin 6/6 appointment. The Articles also provide that at least one third of bin Hassan RMAF the remaining Directors are subject to re-election by rotation at Abdul Aziz bin Jamal 4/6 least once every three years at each Annual General Meeting. Gan Chin Sam 6/6 DIRECTORS’ REMUNERATION Hakim bin Sukirman 6/6 The Remuneration Committee is responsible for reviewing the Khir Anuar bin Mohamad 6/6 performance of Executive Directors and recommending to the Board the remuneration package in line with the contributions Dato’ Khairuddin bin Mohd Sari 1/2 made by them for the year. Determination of the remuneration of Ahmad Shakir bin Ismail 4/4 Non-Executive Directors is a matter to be decided by the Board as a whole. No Director shall take part in decisions pertaining to Lt. Col. (R) Mohd Johari bin Mohd Rais 6/6 his own remuneration. Prof. Dr. Mohd Isa bin Mohd Samat 6/6 Satang Jaya Holdings Berhad (633265-K) 43
Corporate Governance Statement
The aggregate remuneration paid or payable to all Directors of the A press conference is held after each AGM whereat the Board Company is further categorised into the following components:- would advise the media of the resolutions passed, brief them on the operations and performance of the Group during the year under Salaries review and answer questions posed. and other Each item of special business included in the notice of meeting is emoluments Bonuses Fees Total accompanied by a full explanation of the effects of the proposed (rm) (RM) (RM) (RM) resolution to facilitate full understanding and evaluation of the issues involved. Executive
Directors 3,215,838 371,000 178,136 3,764,974 ACCOUNTABILITY AND AUDIT Non- Executive The Board aims to present a balanced and understandable Directors – – 58,452 58,452 assessment of the Group’s operations and prospects, in presenting the annual financial statements and quarterly announcement to Total 3,215,838 371,000 236,588 3,823,426 shareholders. The Board is assisted by the Audit Committee in scrutinising these reports.
The number of Directors of the Company whose income falls Directors’ Responsibilities for the Financial Statements within the following bands is set out as follows:- The directors are required to, under Companies Act, 1965 prepare financial statements for each financial year which give a true and Remuneration band Number of directors fair view of the Group’s state of affairs. In preparing the financial executive non-executive statements, the directors have ensured suitable accounting policies are being adopted and applied consistently, judgments and estimates Less than RM100,000 – 4 are prudent and reasonable and that applicable accounting standards RM100,001 - RM350,000 1 – are being followed. RM350,001 - RM700,000 1 – The directors have responsibility for keeping proper accounting RM700,001 - RM1 Million 3 – records which disclose with reasonable accuracy the financial position of the Group and to ensure that the financial statements comply with the requirements of the Companies Act, 1965. The directors have overall responsibilities for taking such steps as are SHAREHOLDERS reasonably open to them to safeguard the assets of the Group to Dialogue between the Group and Investors prevent and detect fraud and other irregularities. The Group values dialogue and recognizes the need to communicate with its investors, thus encouraging constructive Internal Control two-way communication. The Group uses several channels The Board acknowledges its responsibility for the Group’s system to appropriately inform its investors of major developments of internal controls and for reviewing the effectiveness of these and of the operations of the Company through disclosures and systems. Such systems can only provide reasonable but not absolute announcements made to Bursa Malaysia Securities Berhad (BSMB), assurance against material misstatement or loss. It includes formal press releases, annual reports and the Board also has the option policies and operating procedures in relation to the safeguarding to arrange meetings with analysts or investors, if necessary. of assets, maintenance of proper accounting records, reliability of financial information, compliance with applicable legislation, In addition, shareholders can access for information from the regulation and best practices. The Board is continuously looking Group’s website at www.satangjaya.com. into the adequacy and integrity of its system of internal controls. The Group has operated under an established internal control Annual General Meeting framework which is described, and supported by the external The notice of the AGM and the annual report are sent to investors auditors, in the Statement on Internal Control on page 52. at least 21 days before the date of the meeting. The AGM is the principal form for dialogue with the shareholders. The shareholders Internal Audit have direct access to the Board and are encouraged to participate The internal auditors monitor and report on the system of internal in the open question and answer session. controls. They work on a plan agreed with the Audit Committee and support the Audit Committee in discharging its duties and responsibilities, giving assurance that adequate, efficient and effective internal control systems are in place. Satang Jaya Holdings Berhad (633265-K) 44
Penyata Tadbir Urus Korporat
Lembaga Pengarah mengakui bahawa amalan tadbir urus korporat Bekalan Maklumat yang baik merupakan bahagian yang penting dalam pertumbuhan Agenda Lembaga Pengarah dan kertas kerja Lembaga Pengarah dan kejayaan Kumpulan secara berterusan. Justeru itu, Lembaga dibekalkan kepada semua ahli Lembaga Pengarah sebelum tarikh Pengarah tetap komited untuk mencapai piawaian tadbir urus yang dijadualkan bagi setiap mesyuarat, lantas memberikan masa korporat yang tinggi dalam Kumpulan dengan menyokong dan yang secukupnya untuk mengkaji dan mempertimbangkan secara mengamalkan Prinsip-prinsip tadbir urus yang baik yang diterangkan terperinci dokumen-dokumen sebelum mesyuarat. Lembaga Pengarah dalam Bahagian 1, dan Amalan Terbaik untuk tadbir urus yang baik mempunyai hak untuk membuat pertanyaan lanjut, sekiranya perlu. yang diterangkan dalam Bahagian 2, Kod Tadbir Urus Korporat Para Pengarah tiada had dalam mendapatkan maklumat di dalam Malaysia (Kod). Syarikat untuk membolehkan mereka menjalankan tanggungjawab. Lembaga Pengarah juga mempunyai hak untuk mendapatkan nasihat Di bawah adalah penyata yang membentangkan penggunaan pelbagai dan khidmat Setiausaha Syarikat dan mendapatkan nasihat bebas, Prinsip-prinsip dan pematuhan Amalan Terbaik di dalam Kod, oleh lanjutan dari menjalankan tugas mereka, jika perlu. Lembaga Pengarah Kumpulan sepanjang tahun kewangan berakhir 30 September 2006. mengadakan enam (6) mesyuarat di dalam tahun kewangan berakhir 30 September 2006. LEMBAGA PENGARAH Perlantikan Lembaga Pengarah Keseimbangan Lembaga Pengarah Satu prosidur yang formal telah dibentuk untuk perlantikan ke Lembaga Pengarah terdiri daripada lapan (8) orang ahli, yang terdiri Lembaga Pengarah. Jawatankuasa Pencalonan terdiri daripada tiga (3) daripada Pengerusi Eksekutif/Pengarah Urusan, empat (4) Pengarah Pengarah Bebas Bukan Eksekutif. Jawatankuasa Pencalonan diberi Eksekutif dan tiga (3) Pengarah Bebas Bukan Eksekutif. Profil ringkas kuasa untuk mengenal pasti dan mengesyorkan calon-calon untuk ahli-ahli Lembaga dikemukakan di muka surat 16 hingga 21. menyandang jawatan Pengarah di Lembaga Pengarah.
Pengerusi Eksekutif/Pengarah Urusan bertanggungjawab menyelia Melalui Jawatankuasa Pencalonan, Lembaga akan membuat kajian operasi harian Kumpulan dan melaksanakan dasar-dasar dan strategi tahunan tentang keperluan gabungan kemahiran, kepakaran, kualiti yang diamalkan oleh Lembaga Pengarah. Pengetahuan Pengerusi dan kecekapan teras para Pengarahnya. Selain itu, Jawatankuasa Eksekutif/Pengarah Urusan mengenai hal-ehwal Kumpulan memberi ini juga menilai keberkesanan Lembaga secara keseluruhan dan sumbangan yang ketara ke arah pencapaian matlamat dan objektif sumbangan daripada setiap ahli Lembaga Pengarah. Kumpulan. Latihan Pengarah Para Pengarah Eksekutif menyumbang kepada perumusan dasar dan Semua Pengarah Syarikat telah menghadiri Program “Mandatory pembuatan keputusan melalui pengetahuan dan pengalaman mereka Accreditation” dan akan terus menghadiri program latihan berkaitan dalam bidang perniagaan dan sektor-sektor lain. Para Pengarah yang lain untuk mengikuti perkembangan pembangunan perniagaan Bebas Bukan Eksekutif membawa pertimbangan yang tersendiri dan perundangan semasa serta untuk mematuhi Keperluan dalam proses membuat keputusan untuk melindungi kepentingan Penyenaraian Bursa Malaysia Securities Berhad. pemegang saham dan pemegang taruh yang lain. Perlantikan semula Pengarah Butir-butir kedatangan para Pengarah dibentangkan di bawah: Menurut Tataurusan Syarikat, semua Pengarah yang dilantik oleh Nama Pengarah Jumlah Mesyuarat Lembaga adalah tertakluk kepada pemilihan para pemegang yang dihadiri saham di Mesyuarat Agung Tahunan pertama selepas perlantikan mereka. Tataurusan tersebut juga menyatakan bahawa sekurang- Kolonel (Kehormat) Jamaluddin 6/6 kurangnya satu pertiga daripada Pengarah selebihnya adalah bin Hassan TUDM tertakluk kepada perlantikan semula mengikut giliran masing-masing Abdul Aziz bin Jamal 4/6 sekurang-kurangnya sekali dalam tiga tahun di setiap Mesyuarat Agung Tahunan. Gan Chin Sam 6/6 Hakim bin Sukirman 6/6 imbuhan pengarah Khir Anuar bin Mohamad 6/6 Jawatankuasa Imbuhan bertanggungjawab menilai prestasi kerja Pengarah-pengarah Eksekutif dan mencadangkan pakej imbuhan Dato’ Khairuddin bin Mohd Sari 1/2 kepada Lembaga Pengarah selaras dengan sumbangan para Pengarah Ahmad Shakir bin Ismail 4/4 tersebut pada tahun berkenaan. Imbuhan Pengarah Bukan Eksekutif akan diputuskan oleh Lembaga Pengarah secara keseluruhan. Tiada Lt. Kol. (B) Mohd Johari bin Mohd Rais 6/6 pengarah yang perlu melibatkan diri di dalam proses membuat Prof. Dr. Mohd Isa bin Mohd Samat 6/6 keputusan imbuhan mereka sendiri. Satang Jaya Holdings Berhad (633265-K) 45
Penyata Tadbir urus korporat
Imbuhan agregat yang dibayar atau akan dibayar kepada semua Pengarah Satu persidangan akhbar diadakan selepas setiap Mesyuarat Syarikat dikategorikan mengikut komponen-komponen berikut:- Agung Tahunan, di mana Lembaga Pengarah akan mengumumkan keputusan resolusi, memberikan ringkasan mengenai operasi dan Gaji prestasi pencapaian Kumpulan sepanjang tahun kewangan serta emolumen menjawab soalan-soalan yang dikemukakan. yang lain Bonus Yuran Jumlah Setiap urusan khas yang disenaraikan di dalam notis mesyuarat diiringi dengan penjelasan penuh tentang kesan resolusi yang dicadangkan (rm) (RM) (RM) (RM) untuk memberi kefahaman yang menyeluruh dan penilaian Pengarah isu-isu yang terlibat. Eksekutif 3,215,838 371,000 178,136 3,764,974 Pengarah AUDIT dan kebertanggungjawaban Bukan Lembaga Pengarah beriltizam untuk menyampaikan penilaian yang Eksekutif – – 58,452 58,452 seimbang dan boleh difahami tentang operasi dan prospek Kumpulan, dalam membentangkan penyata kewangan tahunan dan pengumuman Jumlah 3,215,838 371,000 236,588 3,823,426 suku tahunan kepada pelabur. Lembaga Pengarah dibantu oleh Jawatankuasa Audit dalam mengkaji laporan tersebut. Bilangan Pengarah Syarikat di mana imbuhan mereka berada di dalam julat seperti yang dinyatakan dibawah adalah seperti berikut:- Tanggungjawab Pengarah terhadap Penyata Kewangan Menurut Akta Syarikat, 1965, Para pengarah dikehendaki supaya Julat imbuhan Bilangan para pengarah menyediakan penyata kewangan bagi setiap tahun kewangan, yang benar dan saksama tentang hal ehwal Kumpulan. Dalam menyediakan Eksekutif Bukan Eksekutif penyata kewangan, Para pengarah telah memastikan polisi perakaunan RM50,000 dan ke bawah – 4 yang sesuai digunakan dan diaplikasikan dengan konsisten, keputusan dan anggaran dibuat dengan teliti dan munasabah, dan piawaian RM100,001 - RM150,000 1 – perakaunan yang berkenaan telah dipatuhi. RM350,001 - RM400,000 1 – Para pengarah bertanggungjawab untuk menyimpan rekod-rekod RM400,001 - RM700,000 3 – perakaunan dengan baik yang mendedahkan dengan setepat yang munasabah tentang kedudukan kewangan Kumpulan dan memastikan bahawa penyata kewangan mematuhi keperluan Akta Syarikat, 1965. Pemegang Saham Para pengarah juga bertanggungjawab sepenuhnya untuk mengambil Dialog di antara Kumpulan dan Para Pelabur langkah-langkah yang terbuka kepada mereka seberapa munasabah Pihak Kumpulan menghargai dialog dan sedar tentang keperluan bagi melindungi aset Kumpulan bagi mengelakkan dan mengesan komunikasi dengan pelabur, lantas menggalakkan komunikasi dua penyelewengan dan lain-lain salah laku. hala yang membina. Pihak Kumpulan menggunakan beberapa saluran yang sewajarnya untuk memberitahu para pelabur tentang Kawalan Dalaman perkembangan utama dan operasi Syarikat melalui pendedahan Lembaga Pengarah bertanggungjawab terhadap sistem kawalan dan pengumuman yang dibuat di Bursa Malaysia Securities Berhad dalaman dan juga mengkaji keberkesanan sistem-sistem ini. Sistem (BMSB), sidang akhbar, Laporan Tahunan dan Lembaga Pengarah juga tersebut hanya boleh memberikan jaminan munasabah tetapi bukan mempunyai pilihan untuk mengatur mesyuarat bersama penganalisa jaminan mutlak terhadap sebarang salah nyata atau kerugian ketara. atau pelabur, jika perlu. Ia merangkumi polisi formal dan prosidur operasi berhubung dengan perlindungan aset, penyelenggaraan rekod-rekod perakaunan yang Selain itu, para pemegang saham juga boleh mendapatkan maklumat baik, kebolehpercayaan kepada maklumat kewangan, mematuhi daripada laman web Kumpulan di www.satangjaya.com. undang-undang dan peraturan yang berkenaan, dan amalan yang baik. Lembaga Pengarah memerhati secara berterusan di dalam Mesyuarat Agung Tahunan kelengkapan dan integriti sistem kawalan dalaman. Juruaudit luaran Notis Mesyuarat Agung Tahunan dan laporan tahunan dihantar menerangkan dan menyokong bahawa pihak Kumpulan beroperasi kepada pelabur sekurang-kurangnya 21 hari sebelum tarikh di bawah rangka kawalan dalaman yang kukuh, di dalam Penyata mesyuarat. Mesyuarat Agung Tahunan merupakan tatacara utama Kewangan Dalaman di muka surat 53. untuk berdialog dengan para pemegang saham. Para pemegang saham mempunyai akses secara langsung kepada para Pengarah dan Audit Dalaman digalakkan untuk mengambil bahagian di dalam sesi soal jawab. Juruaudit dalaman memantau dan melaporkan sistem kawalan dalaman. Mereka menjalankan pelan kerja yang telah dipersetujui Jawatankuasa Audit dalam menjalankan tugas dan tanggungjawab untuk memberi jaminan bahawa sistem kawalan dalaman adalah mencukupi, cekap dan berkesan. Satang Jaya Holdings Berhad (633265-K) 46
Audit Committee Report
The Board of Directors of Satang Jaya Holdings Berhad is pleased The Head of Internal Audit, the Accountant and the Company to present the report of the Audit Committee for the financial year Secretary were also invited to attend the Audit Committee ended 30 September 2006. meetings.
AUDIT COMMITTEE MEMBERS AND MEETING SUMMARY OF ACTIVITIES OF THE AUDIT ATTENDANCES COMMITTEE The Audit Committee comprises the following members:- The activities undertaken by the Audit Committee during the financial year ended 30 September 2006 included the following:- Lt. Col. (R) Mohd Johari bin Mohd Rais (Chairman) (Appointed on 3 January 2005) - Independent Non-Executive Director 1. Reviewed the quarterly and year-to-date unaudited financial results before submission to the Board for consideration and Dato’ Khairuddin bin Mohd Sari (Member) approval; (Appointed on 17 May 2006) - Independent Non-Executive Director 2. Reviewed and discussed the external auditors’ audit report and management’s response thereof; Ahmad Shakir bin Ismail (Member) (Resigned on 17 May 2006) - Independent Non-Executive Director 3. Reviewed the external auditors’ scope of work and audit plan for the year; Prof. Dr. Mohd Isa bin Mohd Samat (Member) 4. Reviewed the internal audit reports presented and considered (Appointed on 3 January 2005) - Independent Non-Executive Director the major findings of internal audit in the Group’s operating subsidiaries through the review of the internal audit reports Khir Anuar bin Mohamad (Member) tabled and management responses thereof and ensuring (Appointed on 3 January 2005) - Executive Director significant findings are adequately addressed by Management;
The Audit Committee held six (6) meetings during the financial 5. Reported to the Board on its activities and significant findings year ended 30 September 2006. The details of attendance of the and results; Audit Committee members are as follows:- 6. Reviewed the shareholders’ circular in relation to the recurrent related party transactions. Name Attendance Lt. Col. (R) Mohd Johari bin Mohd Rais 6/6* SUMMARY OF ACTIVITIES OF THE INTERNAL Dato’ Khairuddin bin Mohd Sari 0/2* AUDIT FUNCTION The service of the Internal Audit Department of Satang Jaya Holdings Ahmad Shakir bin Ismail 6/6* Berhad was engaged to undertake the internal audit function that Prof. Dr. Mohd Isa bin Mohd Samat 6/6* would enable the Audit Committee to discharge its function. The activities undertaken by the Internal Audit Department Khir Anuar bin Mohamad 6/6* of Satang Jaya Holdings Berhad during the financial year ended 30 September 2006 included the following:- * Reflects the attendance and the number of meetings held during the period the Director held office. 1. Reviewed the existing systems, controls and procedures of various operating units within the Group; 2. Provided recommendations to assist the various operating units and the Group in accomplishing its internal control requirements by suggesting improvements to the effectiveness of such control processes; Satang Jaya Holdings Berhad (633265-K) 47
audit committee report
3. Carried out audit assignments on its Branch Operations; 3. Secretary The Company Secretary shall be the Secretary of the Committee 4. Issued internal audit reports incorporating audit recommendations and shall be responsible, in conjunction with the Chairman, and management’s responses in relation to any audit findings for drawing up the agenda and circulating it, supported by on the weaknesses in the systems and controls to the Audit explanatory documentation to the Committee members prior Committee and the respective operations management; to each meeting. 5. Followed up with management on the implementation of the agreed audit recommendations; and The Secretary shall also be responsible for keeping the minutes 6. Internal audit plan for the year was reviewed and evaluated by of meetings of the audit committee and circulating them to the the Audit Committee. Committee members and to the other members of the Board of Directors.
TERMS OF REFERENCE OF THE AUDIT 4. Frequency of meetings COMMITTEE Meetings shall be held not less than four (4) times a year and 1. Membership will normally be attended by the Director charged with the The Committee shall be appointed by the Board from amongst responsibilities of the Group’s finance and Head of Internal the Directors and shall consist of not less than three members, Audit. The presence of external auditors will be requested if a majority of whom shall be Independent Directors and at required and the external auditors may also request a meeting least one member of the Committee must be a member of if they consider it necessary. the Malaysian Institute of Accountants or possess such other qualifications and/or experience as approved by Bursa Malaysia 5. Quorum Securities Berhad (“Bursa Securities”). A quorum shall consist of a majority of Independent Directors and shall not be less than two (2). A quorum shall consist of two members and a majority of the members present must be Independent Directors. 6. Authority The Committee is authorised by the Board to investigate any No Alternate Director can be appointed as a member of the activity within its terms of reference and shall have unrestricted Audit Committee. access to both the internal and external auditors and to all employees of the Group. The Committee is also authorised If a member of the audit committee resigns, dies or for any by the Board to obtain external legal or other independent other reason ceases to be a member with the result that the professional advice as necessary. number of members is reduced to below three, the board of directors shall, within three months of that event, appoint such The Committee is also authorised to convene meetings with number of new members as may be required to make up the the external auditors excluding the attendance of the executive minimum number of three members. member of the Committee, wherever deemed necessary.
2. Chairman The Chairman of the Committee shall be an Independent Director appointed by the Board. He shall report on each meeting of the Committee to the Board. Satang Jaya Holdings Berhad (633265-K) 48
audit committee report
7. Duties (h) To do the following in relation to the internal audit The duties of the Committee shall be:- function:- - review the adequacy of scope, functions and resources (a) To review and recommend the appointment of external of the internal audit department and that it has the auditors, the audit fee and any questions of resignation or necessary authority to carry out its work; dismissal including the nomination of person or persons as external auditors; - review internal audit programme; - ensure coordination of external audit with internal (b) To discuss with the external auditors where necessary, on audit; the nature and scope of audit and to ensure coordination of audit where more than one audit firm is involved; - consider the major findings of internal audit investigations and management’s response, and ensure that appropriate (c) To review the quarterly results and year-end financial actions are taken on the recommendations of the internal statements prior to the approval by the Board, focusing on:- audit function; - going concern assumption - review any appraisal or assessment of the performance - compliance with accounting standards and regulatory of the staff of the internal audit function; requirements - approve any appointment or termination of senior staff - any changes in accounting policies and practices member of the internal audit function; - significant issues arising from the audit - keep itself informed of resignations of internal audit staff - major judgmental areas members and provide the resigning staff member an opportunity to submit his/her reason for resignation; (d) To prepare Audit Committee Report at the end of each - to monitor related party transactions entered into by financial year; the Company and its subsidiaries, and (e) To discuss problems and reservations arising from the to ensure that the Directors report such transactions interim and final external audits, and any matters the annually to shareholders via the annual report; external auditors may wish to discuss (in the absence of - to review and monitor the effectiveness of internal management, where necessary); control systems and to evaluate the systems with the external auditors; (f) To review the external auditors’ management letter and management’s response; (i) To carry out such other responsibilities, functions or assignments, as may be defined jointly by the Audit Committee and the Board (g) To review any related party transaction and conflict of of Directors from time to time; interest situation that may arise within the Company or Group including any transaction, procedure or course of (j) In compliance with Paragraph 15.17 of the Listing Requirements conduct that raises questions of management integrity; of Bursa Securities, where the Committee is of the view that a matter reported by it to the Board has not been satisfactorily resolved resulting in a breach of the Listing Requirements, the Committee must promptly report such matter to Bursa Securities. Satang Jaya Holdings Berhad (633265-K) 49
Laporan Jawatankuasa Audit
Lembaga Pengarah Satang Jaya Holdings Berhad dengan sukacitanya Ketua Audit Dalaman, Akauntan dan Setiausaha Syarikat turut membentangkan laporan Jawatankuasa Audit bagi tahun kewangan diundang untuk menghadiri mesyuarat jawatankuasa audit. berakhir 30 September 2006. ringkasan aktiviti jawatankuasa audit ahli jawatankuasa audit dan Aktiviti yang dijalankan oleh Jawatankuasa Audit pada tahun kehadiran mesyuarat kewangan berakhir 30 September 2006 meliputi yang berikut:- Jawatankuasa Audit terdiri daripada ahli-ahli berikut:- 1. Menyemak keputusan kewangan suku tahunan dan tahunan Lt. Kol. (B) Mohd Johari bin Mohd Rais (Pengerusi) mutakhir yang belum diaudit sebelum dibentangkan kepada (Dilantik pada 3 Januari 2005) - Pengarah Bebas Bukan Eksekutif Lembaga Pengarah untuk pertimbangan dan kelulusan; 2. Menyemak dan berbincang dengan juruaudit luar tentang laporan Dato’ Khairuddin bin Mohd Sari (Ahli) audit juruaudit luar dan tindakbalas pengurusan terhadapnya; (Dilantik pada 17 Mei 2006) - Pengarah Bebas Bukan Eksekutif 3. Menyemak skop kerja juruaudit luar dan rancangan audit bagi Ahmad Shakir bin Ismail (Ahli) tahun tersebut; (Letak Jawatan pada 17 Mei 2006) - Pengarah Bebas Bukan Eksekutif 4. Menyemak laporan juruaudit dalaman yang dibentangkan dan mempertimbangkan penemuan penting audit dalaman dalam Prof. Dr. Mohd Isa bin Mohd Samat (Ahli) anak-anak syarikat Kumpulan yang beroperasi melalui kajian (Dilantik pada 3 Januari 2005) - Pengarah Bebas Bukan Eksekutif laporan audit dalaman yang dibentangkan dan tindakbalas pengurusan mengenainya serta memastikan penemuan penting Khir Anuar bin Mohamad (Ahli) tersebut ditangani sewajarnya oleh pihak Pengurusan; (Dilantik pada 3 Januari 2005) - Pengarah Eksekutif 5. Melaporkan kepada Lembaga mengenai aktivitinya dan penemuan Jawatankuasa Audit mengadakan enam (6) mesyuarat pada tahun dan keputusan penting; kewangan berakhir 30 September 2006. Maklumat kehadiran ahli 6. Menyemak pekeliling pemegang saham berhubung urusniaga Jawatankuasa Audit adalah seperti berikut:- pihak berkaitan berulangan.
Nama Kehadiran ringkasan aktiviti fungsi audit dalaman * Lt. Kol. (B) Mohd Johari bin Mohd Rais 6/6 Jabatan Audit Dalaman Satang Jaya Holdings Berhad ditugaskan untuk Dato’ Khairuddin bin Mohd Sari 0/2* melaksanakan fungsi audit dalaman yang membolehkan Jawatankuasa Audit menjalankan fungsinya. Aktiviti yang dilaksanakan oleh Jabatan Ahmad Shakir bin Ismail 6/6* Audit Dalaman Satang Jaya Holdings Berhad pada tahun kewangan Prof. Dr. Mohd Isa bin Mohd Samat 6/6* berakhir 30 September 2006 meliputi yang berikut:- Khir Anuar bin Mohamad 6/6* 1. Mengkaji sistem, kawalan dan prosedur yang sedia ada bagi pelbagai unit operasi dalam Kumpulan; * Menunjukkan kehadiran dan bilangan mesyuarat yang diadakan dalam tempoh Pengarah 2. Menyediakan syor untuk membantu pelbagai unit operasi dan tersebut memegang jawatan. Kumpulan dalam memenuhi keperluan kawalan dalamannya dengan mencadangkan peningkatan kepada keberkesanan proses kawalan tersebut; Satang Jaya Holdings Berhad (633265-K) 50
Laporan Jawatankuasa Audit
3. Melaksanakan tugas audit di Operasi Cawangannya; 3. Setiausaha Setiausaha Syarikat juga adalah Setiausaha Jawatankuasa 4. Mengeluarkan laporan audit dalaman yang menggabungkan Audit dan bergabung dengan Pengerusi untuk menghasilkan syor audit dan tindakbalas pengurusan berhubung sebarang agenda dan mengedarkannya, bersama-sama dengan lampiran penemuan audit mengenai kelemahan sistem dan kawalan kepada penjelasan kepada ahli-ahli Jawatankuasa sebelum setiap Jawatankuasa Audit dan pengurusan operasi berkenaan; mesyuarat diadakan. 5. Mengadakan tindakan susulan dengan pihak pengurusan berhubung pelaksanaan syor audit yang dipersetujui; dan Setiausaha juga bertanggungjawab untuk menyimpan minit 6. Rancangan audit dalaman bagi tahun tersebut dikaji dan dinilai mesyuarat bagi setiap mesyuarat Jawatankuasa Audit dan oleh Jawatankuasa Audit. mengedarkannya kepada ahli-ahli Jawatankuasa dan kepada ahli-ahli Lembaga Pengarah yang lain. terma rujukan jawatankuasa audit 4. Kekerapan Mesyuarat 1. Keahlian Jawatankuasa Audit akan mengadakan mesyuarat tidak kurang Jawatankuasa Audit hendaklah dilantik oleh Lembaga Pengarah dari empat (4) kali dalam setahun dan lazimnya akan dihadiri oleh dari kalangan para Pengarah yang terdiri tidak kurang dari tiga (3) Ketua Audit Dalaman dan Pengarah yang bertanggungjawab di ahli, di mana majoriti dikalangan mereka adalah Pengarah Bebas atas Kewangan Kumpulan. Kehadiran juruaudit luar akan diminta Bukan Eksekutif dan sekurang-kurangnya satu daripada ahli sekiranya perlu dan juruaudit luar juga boleh memohon untuk Jawatankuasa merupakan ahli Malaysian Institute of Accountants mengadakan mesyuarat sekiranya perlu. atau memiliki kelayakan dan/atau pengalaman yang diluluskan oleh Bursa Malaysia Securities Berhad (“Bursa Securities”). 5. Korum Korum terdiri daripada majoriti Pengarah Bebas dan tidak Korum terdiri daripada dua ahli di mana majoriti ahli yang hadir kurang daripada dua (2) ahli bagi setiap mesyuarat. haruslah Pengarah Bebas. 6. Bilang Kuasa Tiada Pengarah Pengganti akan dilantik sebagai ahli Jawatankuasa Jawatankuasa Audit adalah diberi kuasa oleh Lembaga Pengarah Audit. untuk menyiasat sebarang aktiviti dalam bidang rujukannya dan diberi kuasa untuk mendapatkan sebarang maklumat Sekiranya salah seorang ahli jawatankuasa audit meletak jawatan, yang diperlukan daripada juruaudit dalaman dan luaran serta meninggal dunia atau dengan apa jua sebab keanggotaannya mana-mana kakitangan syarikat. Jawatankuasa Audit juga diberi dimansuhkan yang mengakibatkan bilangan ahli kurang dari tiga, kuasa oleh Lembaga Pengarah untuk mendapatkan khidmat Lembaga Pengarah perlu, dalam masa tiga (3) bulan dari waktu nasihat guaman luaran atau mana-mana ahli profesional bebas tersebut, melantik ahli baru mengikut bilangan yang diperlukan sekiranya perlu. bagi memenuhi keperluan minima keanggotaan iaitu tiga (3) ahli. Jawatankuasa Audit juga diberi kuasa untuk mengadakan 2. Pengerusi mesyuarat dengan juruaudit luaran tanpa kehadiran ahli eksekutif Pengerusi Jawatankuasa Audit adalah Pengarah Bebas yang Jawatankuasa, sekiranya perlu. dilantik oleh Lembaga Pengarah. Beliau akan mengemukakan laporan di dalam setiap Mesyuarat Lembaga Pengarah. Satang Jaya Holdings Berhad (633265-K) 51
Laporan Jawatankuasa Audit
7. Tugas-tugas (h) Untuk melaksanakan perkara-perkara berikut berkenaan Tugas-tugas Jawatankuasa Audit adalah sepertimana berikut:- dengan fungsi audit dalaman:- - mengkaji kemampuan fungsi, skop dan sumber-sumber (a) Untuk mengkaji dan mengesyorkan perlantikan Juruaudit jabatan audit dalaman dan memastikan ia mempunyai Luar, Yuran Juruaudit dan menangani sebarang permasalahan kuasa-kuasa tertentu untuk menjalankan kerja; tentang perletakkan jawatan atau pemecatan termasuk pencalonan ahli atau ahli-ahli Juruaudit Luar; - menilai program audit dalaman; - memastikan penyelarasan audit dalaman dan luaran; (b) Untuk mengadakan perbincangan dengan Juruaudit Luar mengenai bentuk dan skop audit sebelum sesuatu kerja audit - mempertimbangkan penemuan-penemuan penting dilaksanakan dan seterusnya memastikan keselarasan audit daripada penyiasatan audit dalaman dan tindak balas apabila lebih dari satu firma Juruaudit terlibat; pengurusan, serta tindakan-tindakan yang sesuai telah diambil ke atas fungsi audit dalaman yang dicadangkan; (c) Untuk mengkaji laporan suku tahunan dan penyata kewangan - mengkaji sebarang penilaian prestasi kerja kakitangan tahunan sebelum dimajukan untuk pertimbangan dan kelulusan dalam fungsi audit dalaman; Lembaga Pengarah dengan memfokuskan kepada:- - meluluskan sebarang perlantikan dan pemecatan - andaian perniagaan berterusan kakitangan kanan di dalam fungsi audit dalaman; - pematuhan terhadap piawaian perakaunan dan keperluan perundangan - memastikan maklumat mengenai perletakan jawatan kakitangan audit dalaman dimaklumkan dan memberi - sebarang perubahan dalam polisi/dasar dan amalan peluang kepada kakitangan tersebut untuk menyatakan perakaunan sebab-sebab perletakan jawatannya; - isu-isu penting yang timbul daripada perlaksanaan kerja audit - untuk memantau urusniaga pihak berkaitan yang ditandatangani oleh Syarikat dan anak-anak syarikatnya, - perkara yang melibatkan keputusan penting dan (d) Untuk menyediakan Laporan Jawatankuasa Audit pada setiap - untuk memastikan bahawa para Pengarah melaporkan akhir tahun kewangan; urusniaga tersebut kepada para pemegang saham melalui laporan tahunan setiap tahun; (e) Untuk membincangkan permasalahan serta keraguan yang - untuk mengkaji semula dan memantau keberkesanan timbul daripada audit luar interim dan akhir, dan sebarang sistem kawalan dalaman dan menilai sistem tersebut perkara yang ingin dibincangkan oleh Juruaudit Luar (tanpa dengan Juruaudit Luar; kehadiran pengurusan, bilamana perlu); (i) Untuk melaksanakan tanggungjawab, fungsi atau tugasan lain yang (f) Untuk mengkaji surat pengurusan Juruaudit Luar dan ditakrifkan bersama dengan Jawatankuasa Audit dan Lembaga tindakbalas pengurusan; Pengarah dari masa ke semasa;
(g) Untuk mengkaji sebarang urusniaga pihak berkaitan dan (j) Menurut kepatuhan Perenggan 15.17 Keperluan Penyenaraian situasi konflik kepentingan yang mungkin timbul di dalam Bursa Securities, di mana Jawatankuasa Audit beranggapan Kumpulan atau Syarikat termasuk sebarang urusniaga, bahawa isu-isu yang dilaporkan kepada Lembaga Pengarah prosedur atau pelakuan yang menimbulkan persoalan belum sempurna diselesaikan yang mengakibatkan kemungkiran kejujuran pengurusan; Keperluan Penyenaraian, Jawatankuasa harus melaporkan isu tersebut kepada Bursa Securities dengan segera. Satang Jaya Holdings Berhad (633265-K) 52
Statement on Internal Control
Paragraph 15.27 of the Bursa Malaysia Securities Berhad’s Listing Other Key Elements of Internal Control Requirements specified that the Board of Directors is to provide a The other key elements of the Group’s internal control systems Statement on Internal Control for the Group. The Malaysian Code are as follows: of Corporate Governance stipulates that the Board of Directors of • Clearly defined terms of reference, authorities and responsibilities listed companies should maintain a sound system of internal control of the various committees, which include Audit Committee, to safeguard shareholders’ investment and the Group’s assets. Nomination Committee and Remuneration Committee;
Board Responsibility • Systematically documented internal policies and procedures The Board is responsible to maintain a sound system of internal set out in a series of Standard Practice Manuals. Manuals are controls and for reviewing its adequacy and integrity. It includes subject to regular review and improvement; not only financial controls but operational and compliance controls and risk management. Due to the limitations inherent in an internal • Regular and comprehensive information provided to management control system, management has affected an internal control system and the Board, covering financial performance and key business designed to manage rather than eliminate the risk that may impede indicators; the achievement of the Group’s business objectives. • A detailed budgeting process where operating units prepare Risk Management budgets for the coming year which are approved both at the Risk assessment and evaluation is an integral part of the annual operating unit level and by the Board; business planning and budgeting process. The Group has in place a risk management unit comprising heads of department who develop • Quarterly monitoring of results by the management and the risk management framework, undertake preliminary assessment appropriate action taken, when necessary; of the key business risks within the Group’s core business divisions and implement mitigating strategies to assist the Board in the • Regular visits to operating units by the management team and, discharge of its risk management responsibilities. where deemed appropriate, the Board; and
Under this process, the risk map and risk assessment report • An ISO 9001 Quality Management System, which is subject to summarize the identified risks, the risk impact, the controls and regular review and improvement, continuously manages and processes for managing them. controls the quality requirement of the Company’s products and services. Satang Jaya Holdings Berhad (633265-K) 53
Penyata Kawalan Dalaman
Perenggan 15.27 Keperluan Penyenaraian Bursa Malaysia Securities Unsur-unsur Kawalan Dalaman Utama yang Lain Berhad menyatakan bahawa Lembaga Pengarah perlu mengeluarkan Unsur-unsur kawalan dalaman utama Kumpulan yang lain adalah Penyata Kawalan Dalaman untuk Kumpulan. Kod Urus Tadbir seperti berikut: Korporat Malaysia mensyaratkan bahawa Lembaga Pengarah • Bidang rujukan, agihan kuasa dan tanggungjawab yang ditakrifkan syarikatsyarikat tersenarai harus mengekalkan sistem kawalan dengan jelas bagi pelbagai jawatankuasa, termasuk Jawatankuasa yang betul untuk melindungi pelaburan pemegang saham dan aset Audit, Jawatankuasa Pencalonan dan Jawatankuasa Imbuhan; Kumpulan. • Polisi dalaman dan prosidur yang didokumen secara sistematik Tanggungjawab Lembaga Pengarah dibentangkan di dalam Manual Amalan Piawai. Manual perlu dikaji Lembaga Pengarah bertanggungjawab untuk mengekalkan sistem dan ditingkatkan dari masa ke semasa; kawalan dalaman yang betul dan mengkaji kelengkapan dan integritinya. Sistem kawalan kewangan bukan sahaja merangkumi • Maklumat lazim dan teratur diberi kepada pengurusan dan kawalan kewangan tetapi juga kawalan operasi, pematuhan dan Lembaga Pengarah, meliputi prestasi kewangan dan petunjuk pengurusan risiko. Oleh kerana pembatasan yang terkandung di perniagaan utama; dalam sistem kawalan dalaman, pihak pengurusan telah mengesan sistem kawalan dalaman yang direka untuk mengurus, daripada • Proses belanjawan terperinci yang memerlukan unit-unit menghapuskan risiko yang mungkin menghalang pencapaian objektif operasi menyiapkan belanjawan untuk tahun berikutnya yang perniagaan Kumpulan. diluluskan di peringkat operasi dan Lembaga Pengarah;
Pengurusan Risiko • Pemantauan keputusan berkala oleh pengurusan dan membuat Kajian dan penilaian risiko adalah sebahagian daripada proses tindakan yang sesuai, bila perlu; perancangan perniagaan dan belanjawan tahunan. Kumpulan telah menyediakan unit pengurusan risiko yang terdiri daripada ketua- • Lawatan lazim ke unit-unit operasi oleh kumpulan pengurusan ketua bahagian, yang membina rangka pengurusan risiko, menanggung dan Lembaga Pengarah, jika perlu; dan penilaian awal risiko perniagaan utama di dalam bahagian-bahagian teras perniagaan Kumpulan dan melaksanakan strategi pengurangan • Sistem Pengurusan Kualiti ISO 9001, yang perlu dikaji dan risiko untuk membantu Lembaga Pengarah dalam menjalankan dipertingkatkan dari masa ke semasa, untuk menguruskan dan tanggungjawab pengurusan risiko. mengawal keperluan kualiti produk dan perkhidmatan Syarikat secara berterusan. Di bawah proses ini, peta risiko dan laporan penilaian risiko merumuskan risiko yang dikenal pasti, kesan risiko tersebut, kawalan dan proses untuk menguruskannya. Satang Jaya Holdings Berhad (633265-K) 54
Additional Compliance Information Maklumat Pematuhan Tambahan
Non-audit Fees There were no non-audit fees paid to the external auditors by the Group and the Company during the financial year ended 30 September 2006.
Share Buy-Back, Options, Warrants or Convertible Securities No Share Buy-Back, Options, Warrants or Convertible Securities were implemented and/or exercised during the financial year ended 30 September 2006.
Material Contracts There were no material contracts entered into by the Company and/or its subsidiaries involving directors’ and major shareholders’ interests.
Revaluation Policy on Landed Properties There was no revaluation policy on landed properties in place during the financial year ended 30 September 2006.
Recurrent Related Party Transactions The recurrent related party transactions for the financial year ended 30 September 2006 are set out in the financial statements.
Yuran Bukan Audit Tiada bayaran yuran bukan audit kepada juruaudit luaran oleh Kumpulan dan Syarikat sepanjang tahun kewangan berakhir 30 September 2006.
Pembelian Balik Saham, Opsyen, Waran atau Sekuriti Boleh Tukar Tiada Pembelian Balik Saham, Opsyen, Waran atau Sekuriti Boleh Tukar dilakukan dan/atau dilaksanakan sepanjang tahun kewangan berakhir 30 September 2006.
Kontrak Penting Tiada kontrak penting dimetrai oleh Syarikat dan/atau anak-anak syarikatnya yang melibatkan kepentingan pengarah dan pemegang saham utama.
Dasar Penilaian Semula Harta Bertanah Tiada dasar penilaian semula harta bertanah direkod sepanjang tahun kewangan berakhir 30 September 2006.
Urusniaga Pihak Berkaitan Yang Berulangan Urusniaga pihak berkaitan yang berulangan bagi tahun kewangan berakhir 30 September 2006 dinyatakan di dalam penyata kewangan. Satang Jaya Holdings Berhad (633265-K) 55 financial statements
Directors’ Report 56 Statement by Directors 60 Statutory Declaration 60 Auditors’ Report 61 Balance Sheets 62 Income Statements 63 Statements of Changes in Equity 64 Consolidated Cash Flow Statement 65 Cash Flow Statement 66 Notes to the Financial Statements 67 Satang Jaya Holdings Berhad (633265-K) 56
Directors’ Report
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for the fifteen-month period ended 30 September 2006.
Principal activities The Company is principally engaged as an investment holding company.
The principal activities of its subsidiary companies are disclosed in Note 4 to the financial statements.
There have been no significant changes in the nature of these activities during the fifteen-month period ended 30 September 2006.
FINANCIAL RESULTS Group company RM rM
Profit after taxation 13,333,041 3,976,901 Minority interest (49,134) – Net profit for the period 13,283,907 3,976,901
DIVIDENDS A first and final dividend of 6.0% less 28% tax amounting to RM1,728,000 proposed in respect of the previous financial year and dealt with in the previous directors’ report was paid by the Company during the current financial period.
The Directors do not recommend any dividend payment for the fifteen-month period ended 30 September 2006.
ISSUE OF SHARES AND DEBENTURES No shares or debentures were issued during the period.
RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the period other than those disclosed in the financial statements.
SHARE OPTIONS No options have been granted by the Company to any parties during the period to take up unissued shares of the Company.
No shares have been issued during the period by virtue of the exercise of any option to take up unissued shares in the Company. As at the end of the financial period, there were no unissued shares of the Company under options. Satang Jaya Holdings Berhad (633265-K) 57
directors’ REPORT
INFORMATION ON THE FINANCIAL STATEMENTS Before the income statements and balance sheets of the Group and of the Company were made out, the Directors took reasonable steps: (a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful debts and have satisfied themselves that all known bad debts have been written off and that adequate allowance had been made for doubtful debts; and (b) to ensure that any current assets which were unlikely to be realised in the ordinary course of business including their values as shown in the accounting records of the Group and of 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 amount written off for bad debts or the amount of the allowance for doubtful debts in the financial statements of the Group and of 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 of 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 of the Company misleading or inappropriate.
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 fifteen-month period ended 30 September 2006 which, in the opinion of the Directors, will or may substantially affect the ability of the Group or of the Company to meet their obligations as and when they fall due.
At the date of this report, there does not exist: (a) any charge on the assets of the Group or of the Company which has arisen since the end of the period which secures the liability of any other person: or (b) any contingent liability of the Group or of the Company which has arisen since the end of the period.
DIRECTORS OF THE COMPANY Directors who served on the Board of the Company since the date of the last report are as follows:
COLONEL (HONORARY) JAMALUDDIN BIN HASSAN RMAF GAN CHIN SAM HAKIM BIN SUKIRMAN KHIR ANUAR BIN MOHAMAD LT. COL. (R) MOHD JOHARI BIN MOHD RAIS PROF. DR. MOHD ISA BIN MOHD SAMAT DATO’ KHAIRUDDIN BIN MOHD SARI (APPOINTED ON 17.05.2006) AHMAD SHAKIR BIN ISMAIL (RESIGNED ON 17.05.2006) ABDUL AZIZ BIN JAMAL (RESIGNED ON 02.10.2006)
In accordance with Article 93 of the Company’s Articles of Association, Khir Anuar Bin Mohamad, Lt. Col. (R) Mohd Johari Bin Mohd Rais and Dato’ Khairuddin Bin Mohd Sari retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election. Satang Jaya Holdings Berhad (633265-K) 58
DIRECTORS’ report
DIRECTORS’ INTERESTS The shareholdings in the Company of those who were Directors at the end of the period, as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 134 of the Companies Act, 1965, are as follows: Ordinary shares of RM0.50 each Balance at Balance 01.07.2005 Bought sold 30.09.2006
COLONEL (HONORARY) JAMALUDDIN 16,145,400 – – 16,145,400 BIN HASSAN RMAF GAN CHIN SAM 16,145,400 295,100 (10,000,000) 6,440,500 HAKIM BIN SUKIRMAN 2,279,800 – – 2,279,800 KHIR ANUAR BIN MOHAMAD 130,000 – – 130,000 LT. COL. (R) MOHD JOHARI BIN MOHD RAIS 50,000 – – 50,000 PROF. DR. MOHD ISA BIN MOHD SAMAT 50,000 – – 50,000
None of the other Directors in office at the end of the period had any interest in the ordinary shares of the Company or its related corporations during the period.
DIRECTORS’ BENEFITS Since the end of the previous financial year, no Director has received or become entitled to receive any benefit (other than benefits included in the aggregate amount of emoluments received or due and receivable by Directors as shown in 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 the Director is a member, or with a company in which the Director has a substantial financial interest except as recorded and disclosed in the notes to the financial statements.
During and at the end the period, no arrangement subsisted to which the Company or its related Company was a party, whereby Directors might acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.
OTHER STATUTORY INFORMATION 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 of the Group and of the Company misleading.
In the opinion of the Directors: (a) the results of the operations of the Group and of the Company for the financial period 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 fifteen-month period ended 30 September 2006 and the date of this report, any such item, transaction or event of a material and unusual nature likely to affect substantially the results of the operations of the Group and of the Company for the period in which this report is made. Satang Jaya Holdings Berhad (633265-K) 59
directors’ report
SIGNIFICANT EVENTS DURING THE PERIOD The significant events during the period are disclosed in Note 26 to the financial statements.
EVENTS AFTER THE BALANCE SHEET DATE The events after the balance sheet date are disclosed in Note 33 to the financial statements.
AUDITORS Messrs. Leou & Associates have indicated their willingness to continue in office.
Signed on behalf of the Board in accordance with a resolution of the Directors,
COLONEL (HONORARY) JAMALUDDIN HAKIM BIN SUKIRMAN BIN HASSAN RMAF
KUALA LUMPUR 23 January 2007 Satang Jaya Holdings Berhad (633265-K) 60
Statement by Directors Pursuant to Section 169(15) of the Companies Act, 1965
We, COLONEL (HONORARY) JAMALUDDIN BIN HASSAN RMAF and HAKIM BIN SUKIRMAN, two of the Directors of SATANG JAYA HOLDINGS BERHAD, state that, in the opinion of the Directors, the accompanying Balance Sheets, Statements of Income, Changes in Equity and the Cash Flows of the Group and the Company, together with the notes thereto, are drawn up in accordance with the provisions of the Companies Act, 1965 and the applicable approved accounting standards in Malaysia so as to give a true and fair view of the state of affairs of the Group and of the Company as at 30 September 2006 and of the results and the cash flows of the Group and of the Company for the fifteen-month period ended 30 September 2006.
Signed on behalf of the Board in accordance with a resolution of the Directors,
COLONEL (HONORARY) JAMALUDDIN HAKIM BIN SUKIRMAN BIN HASSAN RMAF
KUALA LUMPUR 23 January 2007
Statutory Declaration Pursuant to Section 169(16) of the Companies Act, 1965
I, KHIR ANUAR BIN MOHAMAD, the Director primarily responsible for the financial management of SATANG JAYA HOLDINGS BERHAD, do solemnly and sincerely declare that, to the best of my knowledge and belief, the accompanying Balance Sheets, Statements of Income, Changes in Equity and the Cash Flows of the Group and the Company, together with the notes thereto, are, in my opinion, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the } abovenamed KHIR ANUAR BIN MOHAMAD } KHIR ANUAR BIN MOHAMAD at Kuala Lumpur in the Federal Territory } Executive Director this day of 23 January 2007 }
Before me:
ShaFie bin Daud (No. W350) Commissioner for Oaths Satang Jaya Holdings Berhad (633265-K) 61
Auditors’ Report to the members of Satang Jaya Holdings Berhad
We have audited the accompanying financial statements of SATANG JAYA HOLDINGS BERHAD. These financial statements are the responsibility of the Company’s Directors.
It is our responsibility to form an independent opinion, based on our audit, on the financial statements and to report our opinion to you, as a body, in accordance with Section 174 of the Companies Act, 1965 and for no other purpose. We do not assume responsibility to any other person for the content of this report.
We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require that we plan and perform the audit to obtain all the information and explanations which we consider necessary to provide us with evidence to give reasonable assurance that the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the 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 above financial statements are properly drawn up in accordance with the provisions of the Companies Act, 1965 and the applicable approved accounting standards in Malaysia so as to give a true and fair view of: (i) the state of affairs of the Group and of the Company as at 30 September 2006 and of the results and cash flows of the Group and of the Company for the fifteen-month period then ended; and (ii) the matters required by Section 169 of the Act to be dealt with in the financial statements; and
(b) the accounting and other records and registers required by the Act to be kept by the Company and its subsidiaries have been properly kept in accordance with the provisions of the Act.
We are satisfied that the financial statements of the subsidiary companies that have been consolidated with the financial statements of the Company are in form and content appropriate and proper for the purpose of the preparation of the consolidated financial statements, and we have received satisfactory information and explanations as required by us for those purposes.
The auditor’ reports on the financial statements of the subsidiary companies were not subject to any qualification and did not include any comment required to be made under Section 174 (3) of the Act.
LEOU & ASSOCIATES LEOU THIAM LAI CHARTERED ACCOUNTANTS APPROVED COMPANY AUDITOR FIRM NO: AF – 0659 TREASURY APPROVAL NO.1269/6/08 (J)
KUALA LUMPUR 23 January 2007 Satang Jaya Holdings Berhad (633265-K) 62
Balance Sheets as at 30 September 2006
Group Company note 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
PROPERTY, PLANT AND EQUIPMENT 3 5,410,403 3,810,960 – – INVESTMENT IN SUBSIDIARY COMPANIES 4 – – 20,575,000 20,575,000 INVESTMENT IN ASSOCIATED COMPANY 5 159,600 159,600 – – OTHER INVESTMENT 6 23,000 23,000 – – AMOUNT DUE FROM SUBSIDIARY COMPANIES 7 – – 19,013,666 11,775,742 AMOUNT DUE FROM ASSOCIATED COMPANY 8 11,002 11,002 – – GOODWILL ON CONSOLIDATION 9 210,289 249,231 – – PRE-CONTRACT EXPENDITURE 10 687 183,401 – – PRE-OPERATING EXPENDITURE 12,234 – – –
CURRENT ASSETS Inventories 11 159,582 348,686 – – Trade receivables 12 62,734,822 42,476,878 – – Other receivables and deposits 10,726,807 3,016,065 243,979 – Deposits with licensed banks 13 9,587,721 10,672,486 8,084,684 10,666,880 Tax recoverable 463,745 159,221 19,404 24,000 Cash and bank balances 2,002,878 4,350,915 103,031 2,788,183 85,675,555 61,024,251 8,451,098 13,479,063
CURRENT LIABILITIES Trade payables 14 2,733,150 1,864,017 – – Other payables and accruals 1,736,890 3,137,681 42,038 17,235 Hire purchase payables 15 199,203 19,323 – – Bills payable 16 11,721,299 5,277,671 – – Amount due to related parties 17 – 6,000 – – Provision for taxation 2,200,064 4,502,081 – – Bank overdrafts 16 9,628,240 – – – 28,218,846 14,806,773 42,038 17,235 NET CURRENT ASSETS 57,456,710 46,217,478 8,409,060 13,461,828 63,283,925 50,654,672 47,997,726 45,812,570
FINANCED BY: SHAREHOLDERS’ EQUITY Share capital 18 40,000,000 40,000,000 40,000,000 40,000,000 Reserves 19 22,068,291 10,576,129 7,997,726 5,812,570 TOTAL SHAREHOLDERS’ EQUITY 62,068,291 50,576,129 47,997,726 45,812,570 Minority interest 149,450 51,317 – – Hire purchase payables 15 1,009,584 8,226 – – Deferred tax liabilities 20 56,600 19,000 – – 63,283,925 50,654,672 47,997,726 45,812,570
The accompanying Notes form an integral part of the Financial Statements. Satang Jaya Holdings Berhad (633265-K) 63
Income Statements for the fifteen-month period ended 30 September 2006
Group Company note 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Revenue 21 85,855,733 67,950,443 6,000,000 3,800,000 Cost of sales (43,089,076) (37,254,814) – – Gross profit 42,766,657 30,695,629 6,000,000 3,800,000 Other income 1,319,385 226,450 603,820 14,102 Administrative expenses (22,595,277) (17,486,055) (942,323) (99,633) Finance costs (1,047,267) (729,610) – – Profit before zakat and taxation 22 20,443,498 12,706,414 5,661,497 3,714,469 Zakat 23 (255,104) – – – Taxation 24 (6,855,353) (3,681,626) (1,684,596) (1,040,000) Profit after zakat and taxation 13,333,041 9,024,788 3,976,901 2,674,469 Minority interest (49,134) (12,205) – – Pre-acquisition profit – (4,522,879) – – Net profit for the period/year 13,283,907 4,489,704 3,976,901 2,674,469
Earnings per share (sen) – Basic 25 16.60 12.68
Dividend per share (%) – Proposed – 6.0
The accompanying Notes form an integral part of the Financial Statements. Satang Jaya Holdings Berhad (633265-K) 64
Statements of Changes in Equity for the fifteen-month period ended 30 September 2006
(Accumulated L loss) share Share reserve on Unappropriated capital Premium consolidation Profit Total rM RM RM RM RM
GROUP Balance at 1 July 2004 2,000 – – (1,840) 160 Acquisition of subsidiary 20,575,000 – – – 20,575,000 Issuance of shares 14,423,000 – – – 14,423,000 Public issue 5,000,000 3,139,941 – – 8,139,941 Reserve arising on acquisition of subsidiary company – – 2,948,324 – 2,948,324 Profit for the year – – – 4,489,704 4,489,704 Balance at 30 June 2005 40,000,000 3,139,941 2,948,324 4,487,864 50,576,129 Dividends (Note 28) – – – (1,728,000) (1,728,000) Share listing expenses incurred – (63,745) – – (63,745) Profit for the period – – – 13,283,907 13,283,907 Balance at 30 September 2006 40,000,000 3,076,196 2,948,324 16,043,771 62,068,291
Non-distributable Distributable
(Accumulated L loss)/ share Share reserve on Unappropriated capital Premium consolidation Profit Total rM RM RM RM RM
COMPANY Balance at 1 July 2004 2,000 – – (1,840) 160 Acquisition of subsidiary 20,575,000 – – – 20,575,000 Issuance of shares 14,423,000 – – – 14,423,000 Public issue 5,000,000 3,139,941 – – 8,139,941 Profit for the year – – – 2,674,469 2,674,469 Balance at 30 June 2005 40,000,000 3,139,941 – 2,672,629 45,812,570 Dividends (Note 28) – – – (1,728,000) (1,728,000) Share issue expenses incurred – (63,745) – – (63,745) Profit for the period – – – 3,976,901 3,976,901 Balance at 30 September 2006 40,000,000 3,076,196 – 4,921,530 47,997,726
The accompanying Notes form an integral part of the Financial Statements. Satang Jaya Holdings Berhad (633265-K) 65
Consolidated Cash Flow Statement for the fifteen-month period ended 30 September 2006
01.07.2005 01.07.2004 to to 30.09.2006 30.06.2005 N note RM rM
CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 20,443,498 12,706,414 Adjustments for: Pre-acquisition profit – (6,369,794) Amortisation of goodwill on consolidation 38,942 15,577 Depreciation of property, plant and equipment 1,577,406 510,458 Gain on disposal of property, plant and equipment (164,547) (77,855) Property, plant and equipment written off 132,377 – interest expense 1,030,050 214,318 interest income (603,876) (24,488) Operating profit before working capital changes 22,453,850 6,974,630 inventories 189,104 (12,868) Receivables (27,354,756) (17,629,206) Payables 5,911,970 225,264 Directors – (75,102) Related parties (6,000) 6,000 Cash generated from/(used in) operations 1,194,168 (10,511,282) interest paid (1,030,050) (214,318) Tax paid (9,449,826) (1,312,609) Tax refund 25,531 – Zakat paid (255,104) – Pre-listing expenditure – 874,015 Pre-contract expenditure 182,714 75,233 Pre-operating expenditure (12,234) – Net cash used in operating activities (9,344,801) (11,088,961)
CASH FLOWS FROM INVESTING ACTIVITIES Deposit with licensed financial institutions (1,502,163) – Interest received 603,876 24,488 Proceeds from disposal of property, plant and equipment 359,097 101,326 Purchase of property, plant and equipment (2,761,906) (414,801) Acquisition of subsidiary (net) 4 – 4,282,653 Net cash (used in)/from investing activities (3,301,096) 3,993,666
CASH FLOWS FROM FINANCING ACTIVITIES Dividend paid (1,728,000) – Proceeds from issuance of share capital net of listing expenses – 22,562,941 Proceeds from issuance of shares to minority interest in subsidiary company 49,000 – Repayment of bank borrowings – (205,964) Repayment of hire purchase payables (174,563) (238,283) Listing expenses paid (63,745) – Net cash (used in)/from financing activities (1,917,308) 22,118,694
NET (DECREASE)/INCREASE IN CASH AND CASH EQUivalents (14,563,205) 15,023,399 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD/Year 15,023,401 2 CASH AND CASH EQUIVALENTS AT END OF PERIOD/YEAR 27 460,196 15,023,401
The accompanying Notes form an integral part of the Financial Statements. Satang Jaya Holdings Berhad (633265-K) 66
Cash Flow Statement for the fifteen-month period ended 30 September 2006
01.07.2005 01.07.2004 to to 30.09.2006 30.06.2005 N note RM rM
CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 5,661,497 3,714,469 Adjustments for: Dividend income (6,000,000) (3,800,000) interest income (171,996) (14,102) Operating loss before working capital changes (510,499) (99,633) Receivables (243,979) – Payables 24,803 15,395 Directors’ account – (75,102) Subsidiary companies (7,237,924) (11,775,742) Cash used in operations (7,967,599) (11,935,082) Pre-listing expenditure – 77,100 Net cash used in operating activities (7,967,599) (11,857,982)
CASH FLOWS FROM INVESTING ACTIVITIES Dividend received 4,320,000 2,736,000 Interest received 171,996 14,102 Net cash from investing activities 4,491,996 2,750,102
CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of share capital net of listing expenses – 22,562,941 Listing expenses paid (63,745) – Dividend paid (1,728,000) – Net cash (used in)/from financing activities (1,791,745) 22,562,941
NET (DECREASE)/INCREASE IN CASH AND CASH EQUivalents (5,267,348) 13,455,061 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD/Year 13,455,063 2 CASH AND CASH EQUIVALENTS AT END OF PERIOD/YEAR 27 8,187,715 13,455,063
The accompanying Notes form an integral part of the Financial Statements. Satang Jaya Holdings Berhad (633265-K) 67
Notes to the Financial Statements 30 September 2006
1. PRINCIPAL ACTIVITIES AND GENERAL INFORMATION The Company is principally engaged as an investment holding company.
The principal activities of its subsidiary companies are disclosed in Note 4 to the financial statements.
There have been no significant changes in the nature of the activities of the Company and its subsidiary companies during the period.
The registered office is located at 149-A, Jalan Aminuddin Baki, Taman Tun Dr. Ismail, 60000 Kuala Lumpur.
The principal place of business is located at No. 29 & 31, Jalan Tiara, Bandar Baru Klang, 41150 Klang, Selangor Darul Ehsan.
The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Second Board of the Bursa Malaysia Securities Berhad.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the Directors on 23 January 2007.
2. siGNIFICANT ACCOUNTING POLICIES (a) Basis of accounting The financial statements of the Group and of the Company are prepared under the historical cost convention and comply with the provisions of the Companies Act, 1965 and the applicable approved accounting standards in Malaysia.
(b) Basis of consolidation (i) subsidiaries The consolidated financial statements include the financial statements of the Company and all its subsidiary companies made up to the end of the financial period.
The financial statements of subsidiaries companies acquired and disposed off during the financial period are included in the consolidated financial statements based on the acquisition method from the effective date of acquisition or up to the effective date of disposal respectively.
intragroup transactions, balances and resulting unrealised gains are eliminated on consolidation and the consolidated financial statements reflect external transactions only. Unrealised losses are eliminated on consolidation unless costs cannot be recovered.
The excess between the cost of an acquisition over the fair value of the Group’s share of the net assets of the acquired subsidiary company at the date of acquisition is included in the consolidated balance sheet as goodwill on consolidation and is amortised using the straight-line method over its estimated useful life or 10 years, whichever is shorter. Goodwill on consolidation is reviewed at each balance sheet date and will be written down for impairment where it is considered necessary. Reserve on consolidation is not amortised.
The deficit between the cost of an acquisition over the fair value of the Group’s share of net assets of the acquired subsidiary company at the date of acquisition is included in the consolidated balance sheet as reverse arising on consolidation.
The gain or loss on disposal of a subsidiary company is the difference between net disposal proceeds and the Group’s share of its net assets together with any unamortised balance of goodwill and exchange differences which were not previously recognised in the consolidated income statement. Satang Jaya Holdings Berhad (633265-K) 68
Notes to the Financial Statements
30 September 2006
2. siGNIFICANT ACCOUNTING POLICIES (CONT’D) (b) Basis of consolidation (Cont’d) (ii) associated companies Associated companies are those companies in which the Group has a long term equity interest and where it exercises significant influence over the financial and operating policies.
investments in associated companies are accounted for in the consolidated financial statements by the equity method of accounting based on the audited or management financial statements of the associated companies. Under the equity method of accounting, the Group’s share of post acquisition profits less losses of the associated companies during the period is included in the consolidated income statement. The Group’s interest in associated companies is carried in the consolidated balance sheet at cost plus the Group’s share of post-acquisition retained profits or accumulated losses and other reserves as well as goodwill on acquisition.
Unrealised gains on transactions between the Group and the associated companies are eliminated to the extent of the Group’s interest in the associated companies. Unrealised losses are eliminated unless cost cannot be recovered.
However, no consolidated financial statements have been prepared for the investment in associated company as the Directors are of the opinion that this has no material effect on the results of the Group.
(c) Property, plant and equipment and depreciation Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. The policy for recognition and measurement of impairment losses is in accordance with Note 2(e).
Gains or losses arising from the disposal of an asset is determined as the difference between the estimated net disposal proceeds and the carrying amount of the asset, and is recognised in the income statements.
Leasehold industrial land and leasehold factory land are amortised over the remaining lease period. Other property, plant and equipment are depreciated on the straight-line method at rates based on their estimated useful lives. The principal annual rates used are as follows: - Rate
Furniture and fittings 10 – 20 % office equipment 10 – 20 % Tools and equipment 10 – 20 % Motor vehicles 20 % Renovation 20 % Computers 20 – 33.33 %
(d) Hire purchase Property, plant and equipment acquired under hire purchase agreements are capitalised at their purchase cost and depreciation provided on the same basis as owned assets. The total amount payable under hire purchase agreements is shown under hire purchase payables. The interest is charged to the income statement over the hire purchase period. Satang Jaya Holdings Berhad (633265-K) 69
Notes to the Financial Statements
30 September 2006
2. siGNIFICANT ACCOUNTING POLICIES (CONT’D) (e) impairment of assets At each balance sheet date, the Group reviews the carrying amounts of its assets, other than inventories, deferred tax assets and financial assets, to determine whether there is any indication of impairment. If any such indication exists, impairment is measured by comparing the carrying values of assets with their recoverable amounts. Recoverable amount is the higher of net selling price and value in use, which is measured by reference to discounted future cash flows. Recoverable amounts are estimated for individual assets or, if it is not possible, for the cash-generating unit to which the assets belong.
An impairment loss is charged to the income statement immediately, unless the asset is carried at revalued amount. Any impairment loss of a revalued asset is treated as a revaluation decrease to the extent of any available previously recognised revaluation surplus for the same asset.
(f) subsidiary companies A subsidiary company is a company in which the Group owns, directly or indirectly, more than 50% of the equity share capital and has control over its financial and operating policies so as to obtain benefits from its activities.
investments in subsidiary companies are stated at cost less impairment losses. The policy for recognition and measurement of impairment losses is in accordance with Note 2(e).
on disposal of such investments, the difference between net disposal proceeds and their carrying amounts is recognised in the income statement.
(g) associated companies Associated companies refer to those companies in which the Group has a long term effective interest between 20% to 50% of the equity capital and the Group is in a position to exercise significant influence on the management.
investments in associated companies are stated at cost less impairment losses. The policy for recognition and measurement of impairment losses is in accordance with Note 2(e).
on disposal of such investments, the difference between net disposal proceeds and their carrying amounts is recognised in the income statement.
(h) inventories inventories are valued at the lower of cost and net realisable value. Cost is determined on a first-in, first-out (FIFO) basis.
(i) related parties Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party, to the extent that it prevents the other party from fully pursuing its own separate interest, in making financial and operating decisions. Satang Jaya Holdings Berhad (633265-K) 70
Notes to the Financial Statements
30 September 2006
2. siGNIFICANT ACCOUNTING POLICIES (CONT’D) (j) Foreign currency transactions Foreign currency transactions are converted into Ringgit Malaysia at the rates of exchange prevailing at transaction dates and, where settlements have not taken place at balance sheet date, at the approximate rates prevailing at that date. All gains and losses on exchange conversion are included in the income statement.
The principal closing rates used in translation of foreign currency amounts are as follows: Foreign currency 30.09.2006 30.06.2005
1 US Dollar RM 3.6860 RM 3.8000 1 Singapore Dollar RM 2.3229 RM 2.2576 1 Sterling Pound RM 6.8871 RM 6.8685
(k) Provisions for liabilities Provisions for liabilities are recognised when the Group has a present obligation as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount can be made. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. Where the effect of the time value of money is material, the amount of a provision is the present value of the expenditure expected to be required to settle the obligation.
(l) income tax Taxation in the income statement represents the aggregate amount of current and deferred tax. Current tax is the expected amount payable in respect of taxable income for the year and any adjustments recognised in the year for current tax of prior years.
Deferred tax is recognised, using the liability method, on all temporary differences except where the temporary differences arises from goodwill or negative goodwill or from the initial recognition of an asset or liability in a transaction, which is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit. Deferred tax is measured at the tax rates that are expected to apply in the period in which the assets are realised or the liabilities are settled.
Deferred tax is recognised in equity when it relates to items recognised directly in equity. When deferred tax arises from business combination that is an acquisition, the deferred tax is included in the resulting goodwill or negative goodwill.
Deferred tax assets are recognised only to the extent that there are sufficient taxable temporary differences relating to the same taxation authority to offset or when it is probable that future taxable income will be available against which the assets can be utilised.
(m) revenue recognition Sales are recognised upon delivery of products and customer acceptance, net of discounts, and after eliminating sales within the Group.
Dividend income – when the right to receive payment has been established.
other revenues earned by the Group are recognised on the following bases:
interest income – as it accrues unless recoverability is in doubt. Satang Jaya Holdings Berhad (633265-K) 71
Notes to the Financial Statements
30 September 2006
2. siGNIFICANT ACCOUNTING POLICIES (CONT’D) (n) Pre-contract expenditure Where the outcome of a construction contract can be reliably estimated, contract revenue and contract costs are recognised as revenue and expenses respectively by using the stage of completion method. The stage of completion is measured by reference to the proportion of contract costs incurred for work performed to date to the estimated total contract costs.
Where the outcome of a construction contract cannot be reliably estimated, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.
When the total of costs incurred on construction contract plus, recognised profit (less recognised losses) exceeds progress billings, the balance is show as amount due from customers on contract. When progress billings exceed costs incurred plus, recognised profits (less recognised losses), the balance is shown as amount due to customers on contracts.
(o) Zakat This represents business zakat, which is an obligatory amount payable by the Company to comply with the principles of Shariah. Zakat provision is calculated based on 2.5% of the shareholders’ funds growth method.
(p) cash and cash equivalents The Group and the Company adopt the indirect method in the preparation of the cash flow statements.
Cash equivalents are short term, highly liquid investments with maturities of three months or less from the date of acquisition and are readily convertible to cash with insignificant risk of change in value.
(q) employee benefits (i) Short term benefits Wages, salaries, bonuses and social security contributions are recognised as an expense in the year in which employees of the Group rendered the associated services. Short term accumulating compensated absences such as paid annual leave are recognised when services are rendered by employees that increase their entitlement to future compensated absences, and short term non-accumulating compensated absences such as sick leave are recognised when the absences occur.
(ii) Defined contribution plans As required by law, companies in Malaysia make contributions to the state pension scheme, the Employees Provident Fund (“EPF”). Such contributions are recognised as an expense in the income statement as incurred. Satang Jaya Holdings Berhad (633265-K) 72
Notes to the Financial Statements
30 September 2006
2. siGNIFICANT ACCOUNTING POLICIES (CONT’D) (r) Financial instruments Financial instruments are recognised in the balance sheet when the Group has become a party to the contractual provisions of the instrument.
Financial instruments are classified as liabilities or equity in accordance with the substance of the contractual agreement. Interest, dividends, gains and losses relating to a financial instrument classified as a liability, are reported as expense or income. Distributions to holders of financial instruments classified as equity are charged directly to equity.
Financial instruments are offset when the Group has a legally enforceable right to offset and intends to settle either on a net basis or to realise the asset and settle the liability simultaneously.
Financial instruments recognised in the Balance Sheet are disclosed in the individual policy statement associated with each item.
(i) Other non-current investments Non-current investments other than investments in subsidiaries, associated companies and joint ventures are stated at cost less impairment losses. The policy for the recognition and measurement of impairment losses is in accordance with Note 2(e).
on disposal of an investment, the difference between net disposal proceeds and its carrying amount is recognised in the income statement.
(ii) Receivables Receivables are carried at anticipated realisable values. Bad debts are written off when identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet date.
(iii) Payables Payables are stated at cost which is the fair value of the consideration to be paid in the future for goods and services received.
(iv) Interest-bearing borrowings interest-bearing overdrafts are recorded at the face value of the loan amount.
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are capitalised as part of the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
All other borrowing costs are recognised as an expense in the income statement in the period in which they are incurred.
(v) Equity instruments ordinary shares are classified as equity. Dividends on ordinary shares are recognised in equity in the period in which they are approved for payment. Satang Jaya Holdings Berhad (633265-K) 73
Notes to the Financial Statements
30 September 2006
3. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: Arising from GROUP acquisition Balance at of subsidiary Balance at cOST 01.07.2005 companies additions Disposals 30.09.2006 rM rM rM rM rM
Leasehold industrial land 1,191,132 – – – 1,191,132 Leasehold factory 598,426 – – – 598,426 Furniture and fittings 393,769 – 82,180 (16,711) 459,238 office equipment 732,303 – 57,487 (34,593) 755,197 Tools and equipment 1,073,955 – 43,514 (452,757) 664,712 Motor vehicles 2,189,192 – 1,959,307 (1,101,506) 3,046,993 Renovation 928,848 – 296,925 (92,731) 1,133,042 Computer 915,940 – 452,939 (5,628) 1,363,251 8,023,565 – 2,892,352 (1,703,926) 9,211,991
Arising from acquisition accUMULATED Balance at of subsidiary charges for Balance at DEPRECIATION 01.07.2005 companies the period Disposals 30.09.2006 rM rM rM rM rM
Leasehold industrial land 24,676 – 17,263 – 41,939 Leasehold factory 14,451 – 7,326 – 21,777 Furniture and fittings 264,638 – 81,703 (63,445) 282,896 office equipment 546,691 – 105,625 (128,394) 523,922 Tools and equipment 758,099 – 145,621 (519,327) 384,393 Motor vehicles 1,656,476 – 544,107 (958,276) 1,242,307 Renovation 442,640 – 284,927 (265,953) 461,614 Computer 504,934 – 390,834 (53,028) 842,740 4,212,605 – 1,577,406 (1,988,423) 3,801,588
Arising from GROUP acquisition Balance at of subsidiary Balance at cOST 01.07.2004 companies additions Disposals 30.06.2005 rM rM rM rM rM
Leasehold industrial land – 1,191,132 – – 1,191,132 Leasehold factory – 598,426 – – 598,426 Furniture and fittings – 375,305 19,594 (1,130) 393,769 office equipment – 695,406 38,477 (1,580) 732,303 Tools and equipment – 1,002,064 71,891 – 1,073,955 Motor vehicles – 2,368,844 63,541 (243,193) 2,189,192 Renovation – 838,205 90,643 – 928,848 Computer – 785,285 130,655 – 915,940 – 7,854,667 414,801 (245,903) 8,023,565 Satang Jaya Holdings Berhad (633265-K) 74
Notes to the Financial Statements
30 September 2006
3. PROPERTY, PLANT AND EQUIPMENT Arising from GROUP acquisition Balance at of subsidiary charges for Balance at accUMULATED DEPRECIATION 01.07.2004 companies the year Disposals 30.06.2005 rM rM rM rM rM
Leasehold industrial land – 18,133 6,543 – 24,676 Leasehold factory – 11,052 3,399 – 14,451 Furniture and fittings – 214,152 51,426 (940) 264,638 office equipment – 469,092 79,069 (1,470) 546,691 Tools and equipment – 702,965 55,134 – 758,099 Motor vehicles – 1,741,941 134,557 (220,022) 1,656,476 Renovation – 368,149 74,491 – 442,640 Computer – 399,095 105,839 – 504,934 – 3,924,579 510,458 (222,432) 4,212,605
net BOOK VALUE 30.09.2006 30.06.2005 R rM rM
Leasehold industrial land 1,149,193 1,166,456 Leasehold factory 576,649 583,975 Furniture and fittings 176,342 129,131 office equipment 231,275 185,612 Tools and equipment 280,319 315,856 Motor vehicles 1,804,686 532,716 Renovation 671,428 486,208 Computer 520,511 411,006 5,410,403 3,810,960
The leasehold industrial land and factory are charged to banks for credit facilities granted to the subsidiary company.
The leasehold industrial land has a remaining lease term of 90 years, which expires on 11 December 2096, whilst the leasehold land of the leasehold factory has a remaining lease term of 87 years, which expires on 8 May 2093.
The Company has no property, plant and equipment as at 30 September 2006.
Included in property, plant and equipment of the Group are the costs of the following fully depreciated assets, which are still in use: Group 30.09.2006 30.06.2005 R rM rM
Furniture and fittings 154,836 57,261 office equipment 338,003 333,272 Tools and equipment 132,772 355,578 Motor vehicles 467,788 – Renovation 106,941 123,772 Computer 290,072 222,414 1,490,412 1,092,297 Satang Jaya Holdings Berhad (633265-K) 75
Notes to the Financial Statements
30 September 2006
3. PROPERTY, PLANT AND EQUIPMENT Included in the above property, plant and equipment of the Group are assets acquired under hire purchase arrangements as follows: Group 30.09.2006 30.06.2005 R rM rM
cOST Motor vehicles 1,834,609 98,072
net BOOK VALUE Motor vehicles 1,406,580 21,313
4. investMENT IN SUBSIDIARY COMPANIES C company 30.09.2006 30.06.2005 R rM rM
Unquoted shares – at cost 20,575,000 20,575,000
Details of the subsidiary companies which are all incorporated in Malaysia, are as follows:
% Equity Held name of Company 30.09.2006 30.06.2005 Principal Activities
Direct Satang Jaya Sdn. Bhd. 100 100 investment holding and distribution and supply of defence and commercial aviation and marine and Consultant to Original equipment Manufacturers (OEMs)
Indirect through Satang Jaya Sdn. Bhd. Triopoint (M) Sdn. Bhd 100 100 Supplying of defence and aviation equipment and accessories MSJ Technical Support Sdn. Bhd. 100 100 Maintenance, repairs and overhaul of aviation electronics and safety equipment and electron-mechanical related accessories
Satang Services Sdn. Bhd. 100 100 Maintenance, repairs and overhaul of aviation ground support safety equipment and related accessories Satang Jaya Holdings Berhad (633265-K) 76
Notes to the Financial Statements
30 September 2006
4. investMENT IN SUBSIDIARY COMPANIES (CONT’D) % Equity Held name of Company 30.09.2006 30.06.2005 Principal Activities Indirect through Satang Jaya Sdn. Bhd. Satang Environmental Sdn. Bhd. 100 100 Supplying and distribution of environmental products, providing training and seminar in respect of Environmental Management System and other related services Satang Cylinder Services Sdn. Bhd. 100 100 Maintenance, repairs and overhaul of aviation related cylinders that include servicing, inspection, recycling and refilling of gas and other related services SAR Services (M) Sdn. Bhd. 100 100 Maintenance, repairs and overhaul of safety and survival equipment Satang Hi-Tech Security Sdn. Bhd. 100 100 Providing consultancy and solution services and implementing of high technology and surveillance security systems and its related services Satang ICS-Global Sdn. Bhd.* 51 – Supplying and servicing of pipe cleaning products and equipments Port Marine Safety Services Sdn. Bhd. 69 69 Supplying and maintenance of marine safety and survival equipment and accessories * Based on unaudited management accounts of the subsidiary company for the period ended 30 September 2006
The effects of the acquisition of subsidiary company (Satang Jaya Sdn. Bhd.) on the financial results of the Group pertaining to the last financial year are as follows: Group 30.09.2006 30.06.2005 R rM rM
Property, plant and equipment – 3,810,960 Goodwill on consolidation – 249,231 investment in associated company – 159,600 other investments – 23,000 Pre-contract expenditure – 183,401 inventories – 348,686 Trade receivables – 42,476,878 other receivables, prepayments and deposits – 3,016,065 Amount due from associated company – 11,002 Deposit with a licensed bank – 5,606 Tax recoverable – 159,221 Cash and bank balances – 1,562,732 Trade payables – (1,864,017) other payables, accruals and deposits – (3,120,446) Amount due to holding company – (11,775,742) Bills payable – (5,277,671) Amount due to related parties – (6,000) Hire purchase payables – (27,549) Provision for taxation – (4,502,081) Deferred taxation – (19,000) Minority interest – (51,317) – 25,362,559 Satang Jaya Holdings Berhad (633265-K) 77
Notes to the Financial Statements
30 September 2006
4. investMENT IN SUBSIDIARY COMPANIES (cont’d) Summary of effects of the acquisition of subsidiary company (Satang Jaya Sdn. Bhd.) on the financial position of the Group pertaining to the last financial year is as follows: Group 01.07.2005 01.07.2004 to to 30.09.2006 30.06.2005 R rM rM Revenue – 67,950,443 Cost of sales – (37,254,814) Gross profit – 30,695,629 other income – 212,348 Administrative expenses – (17,386,422) Finance expenses – (729,610) Profit before taxation – 12,791,945 Taxation – (3,681,626) Profit after taxation – 9,110,319 Minority interest – (12,205) Less: Pre-acquisition profit – (4,522,879) Net profit for the year – 4,575,235 The fair value of the assets acquired and liabilities assumed from the acquisition of the subsidiary company (Satang Jaya Sdn. Bhd.) are as follows: Group 30.09.2006 30.06.2005 R rM rM Property, plant and equipment – 3,930,088 Goodwill on consolidation – 264,808 investment in associated company – 159,600 other investments – 23,000 Pre-listing expenditure – 796,915 Pre-contract expenditure – 258,634 inventories – 335,818 Trade receivables – 20,392,091 other receivables, prepayments and deposits – 7,471,647 Amount due from associated company – 11,002 Deposit with a licensed bank – 6,961,857 Tax recoverable – 172,442 Cash and bank balances – 442,635 Trade payables – (621,851) other payables, accruals and deposits – (3,988,325) Bills payable – (5,442,089) Hire purchase payables – (265,832) Term loan – (205,964) Bank overdraft – (3,121,839) Provision for taxation – (4,009,376) Deferred taxation – (19,000) Minority interest – (22,937) Net assets acquired – 23,523,324 Reserve on consolidation – (2,948,324) Cost of acquisition – 20,575,000 Less: Issue of ordinary share capital – (20,575,000) Cash and cash equivalents acquired – 4,282,653 – 4,282,653 Satang Jaya Holdings Berhad (633265-K) 78
Notes to the Financial Statements
30 September 2006
5. INVESTMENT IN ASSOCIATED COMPANY Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Unquoted shares – at cost 159,600 159,600 – –
Details of the associated company are as follows: Name : The Industrial and Scientific Co. Sdn. Bhd. % equity held : 38% (30.06.2005 – 38%) Country of incorporation : Malaysia Principal activities : importing and distributing of all industrial, scientific and marine products and LPG gas and also maintenance of safety and survival aviation equipments
No consolidated financial statements have been prepared for the investment in associated company as the Directors are of the opinion that this has no material effect on the results of the Group.
6. OTHER INVESTMENT This is stated at cost and represents an investment in a local golf club and resort, which entitles the Company’s management and staff to utilise the facilities.
7. aMOUNT DUE FROM SUBSIDIARY COMPANIES These amounts are interest-free, unsecured and have no fixed term of repayment.
8. aMOUNT DUE FROM ASSOCIATED COMPANY This amount is interest-free, unsecured and has no fixed term of repayment.
9. GOODWILL ON CONSOLIDATION Group 30.09.2006 30.06.2005 R rM rM
Goodwill on consolidation At beginning of period/year 264,808 – Additions during the period/year – 264,808 At end of period/year 264,808 264,808
Cumulative amortisation At beginning of period/year (15,577) – Amortisation for the period/year (38,942) (15,577) At end of period/year (54,519) (15,577)
Net at end of period/year 210,289 249,231 Satang Jaya Holdings Berhad (633265-K) 79
Notes to the Financial Statements
30 September 2006
10. PRE-CONTRACT EXPENDITURE Group 30.09.2006 30.06.2005 R rM rM
Balance at beginning of period/year 183,401 – Acquired during the period/year 687 258,634 Less: Utilised during the period/year (183,401) (75,233) Balance at the end of period/year 687 183,401
11. INVENTORIES Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
At cost: Spare parts and consumables and trading products 249,744 438,848 – – Less: Allowance for slow moving inventories (90,162) (90,162) – – 159,582 348,686 – –
12. TRADE RECEIVABLES Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Trade receivables 62,758,551 42,500,607 – – Less: Allowance for doubtful debts (23,729) (23,729) – – 62,734,822 42,476,878 – –
The Group’s normal trade credit terms ranges from 30 to 90 days (30.06.2005 - 30 to 90 days). Other credit terms are assessed and approved on a case by case basis.
13. DEPOSITS WITH LICENSED BANKS The effective interest rate for deposits with licensed banks at the end of the financial period is 2.6% – 3% (30.06.2005 – 2.6% – 3%).
Included in the deposits with licensed banks of the Group are deposits amounting to RM1,500,000 pledged with licensed financial institutions for banking facilities granted to the subsidiary of the Company and RM2,163 pledged to licensed bank as a guarantee for a contract.
14. traDE PAYABLES The normal trade credit terms granted to the Group range from 30 to 90 days (30.06.2005 – 30 to 90 days). Satang Jaya Holdings Berhad (633265-K) 80
Notes to the Financial Statements
30 September 2006
15. HIRE PURCHASE PAYABLES Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Future minimum hire purchase payments are as follows: Payable within 1 year 253,988 21,228 – – Payable between 2 years and 5 years 960,979 8,560 – – Payable after 5 years 170,785 – – – 1,385,752 29,788 – – Less: Unexpired interest (176,966) (2,239) – – 1,208,786 27,549 – –
Due within 1 year 199,202 19,323 – – Due between 2 years and 5 years 813,698 8,226 – – Due after 5 years 195,886 – – – 1,208,786 27,549 – –
The hire purchase and finance lease payables of the Group bore interest of between 4.60% and 10.34% (30.06.2005 – 10.34%) per annum.
16. BILLS PAYABLE AND BANK OVERDRAFT The bills payable bear interest at prevailing commercial rates whilst the bank overdrafts bear interest of between 7.5% to 8.5% (30.06.2005 – Nil) above the banks’ Base Lending Rate. These banking facilities are secured by the following: (a) A legal charge over the Group’s properties; (b) First debenture covering fixed and floating charges over all present and future assets of a subsidiary company; (c) Corporate guarantee of the Company; and (d) Joint and several guarantees by the Directors of the Company.
17. aMOUNT DUE TO RELATED PARTIES These amounts are interest-free, unsecured and have no fixed terms of repayment.
18. sHARE CAPITAL Group & Company 30.09.2006 30.06.2005 R rM rM
Authorised: 200,000,000 ordinary share of RM0.50 each 100,000,000 100,000,000
issued and fully paid: ordinary shares of RM0.50 each At beginning of period/year 40,000,000 2,000 Allotment during the period/year – 20,575,000 Allotment during the period/year – 14,423,000 Allotment during the period/year – 5,000,000 At end of period/year 40,000,000 40,000,000 Satang Jaya Holdings Berhad (633265-K) 81
Notes to the Financial Statements
30 September 2006
19. reserves Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Non-distributable Share premium account (Note A) 3,076,196 3,139,941 3,076,196 3,139,941 Reserve on consolidation 2,948,324 2,948,324 – –
Distributable Unappropriated profit 16,043,771 4,487,864 4,921,530 2,672,629 Total reserves 22,068,291 10,576,129 7,997,726 5,812,570
note A – Share premium account Group & Company 30.09.2006 30.06.2005 R rM rM
At beginning of period/year 3,139,941 – Public issue – 5,000,000 Finance listing expenses written off – (1,860,059) Share listing expenses incurred (63,745) – At end of period/year 3,076,196 3,139,941
20. DEFERRED TAX LIABILITIES Group 30.09.2006 30.06.2005 R rM rM
At beginning of period/year 19,000 – Acquisition of subsidiary – 82,000 Recognised in the income statement (Note 24) 37,600 (63,000) At end of period/year 56,600 19,000
The deferred taxation is in respect of timing differences arising from capital allowances claimed in advance of depreciation. Satang Jaya Holdings Berhad (633265-K) 82
Notes to the Financial Statements
30 September 2006
21. revenUE Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Sales of goods and performance of services 85,855,733 67,950,443 – – Gross dividends from subsidiary companies – – 6,000,000 3,800,000 85,855,733 67,950,443 6,000,000 3,800,000
Revenue represents gross invoiced values less trade discounts and returns and commission received and receivable.
22. PROFIT BEFORE ZAKAT AND TAXATION This has been determined after charging the following items: Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Allowance for doubtful debts – 23,729 – – Allowance for slow moving inventories – 10,087 – – Amortisation of goodwill on consolidation 38,942 31,154 – – Audit fee – current period/year 70,000 75,000 15,000 11,000 – overprovision in prior year (2,500) (15,170) – – Bad debts written off 23,020 – – – Banker acceptance interest and charges 301,341 157,724 – – Depreciation 1,577,406 510,458 – – Directors’ fees 39,862 – – – Directors’ remuneration 3,456,639 2,548,300 216,726 72,000 Hire purchase interest 60,333 125,125 – – L/C and trust receipts charges 253,703 163,978 – – Loss on foreign exchange 34,419 17,538 – – Management fee – current period/year 36,250 265,250 – – – overprovision in prior year – (80,000) – – overdraft interest 359,999 200,064 – – Property, plant and equipment written off 132,377 – – – Rental of motor vehicles 41,260 28,614 – – Rental of equipment 59,684 30,258 – – Rental of premises 696,840 383,156 – – Term loan interest – 70,848 – – Satang Jaya Holdings Berhad (633265-K) 83
Notes to the Financial Statements
30 September 2006
22. PROFIT BEFORE ZAKAT AND TAXATION (cont’d) Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
and crediting: emolument cost – – 131,824 – Gain on disposal of property, plant and equipment 164,547 72,416 – – Gain on foreign exchange – 1,160 – – interest received 528,660 34,875 171,996 14,102 Management fee received 12,000 – 300,000 – Sales commission received 462,354 – – –
23. ZAKAT Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Provision for zakat based on results for the period: – Current 255,104 – – –
24. taXATION The provision for taxation for the financial period was computed at the prevailing tax rates. Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Provision for current period/year 6,026,234 3,831,000 1,665,300 1,040,000 Under/(Over) provision in prior years 791,519 (86,374) 19,296 – Deferred taxation (Note 20) 37,600 (63,000) – – 6,855,353 3,681,626 1,684,596 1,040,000
Income tax is calculated at the Malaysian statutory tax rate of 28% (30.06.2005 – 28%) of the estimated assessable profit for the period/year. Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. Satang Jaya Holdings Berhad (633265-K) 84
Notes to the Financial Statements
30 September 2006
24. taXATION (cont’d) A reconciliation of income tax expense applicable to profit before taxation at the statutory income tax rate to income tax expense at the effective income tax rate of the Group and of the Company is as follows: 01.07.2005 01.07.2004 to to 30.09.2006 30.06.2005 R rM rM
Group Profit before taxation 20,443,498 12,706,414
Taxation at Malaysian statutory tax rate of 28% 5,724,179 3,557,796 effect of different tax rates on small to medium scale industries 13,205 (53,637) expenses not deductible for tax purposes 1,320,333 164,026 income not subject to tax (1,353,333) (25,899) Utilisation of previously unrecognised tax losses and unabsorbed capital allowance – (21,255) Deferred tax assets not recognised for the period/year 359,450 146,969 Under/(Over) provision of income tax in prior years 791,519 (86,374) Tax expense for the period/year 6,855,353 3,681,626
01.07.2005 01.07.2004 to to 30.09.2006 30.06.2005 R rM rM
company Profit before taxation 5,661,497 3,714,469
Taxation at Malaysian statutory tax rate of 28% 1,585,219 1,040,051 expenses not deductible for tax purposes 80,081 – Underprovision of income tax in prior years 19,296 – others – (51) Tax expenses for the period/year 1,684,596 1,040,000
The Company has a tax credit of approximately RM2,057,300 (30.06.2005 – RM1,064,000) under Section 108 of Income Tax Act, 1967 to frank payment of future dividends. This amount is subject to agreement by the Inland Revenue Board. Satang Jaya Holdings Berhad (633265-K) 85
Notes to the Financial Statements
30 September 2006
25. earninGS PER SHARE Group 30.09.2006 30.06.2005 R rM rM
Basic Earnings Per Share Profit for the period/year (RM) 13,283,907 4,489,704
Weighted average number of ordinary shares in issue for basic earnings per share 80,000,000 35,394,011
Basic earnings per share (sen) 16.60 12.68
26. siGNIFICANT EVENTS DURING THE FINANCIAL PERIOD During the financial period, the following significant events took place for the Company and its subsidiary companies: (a) approval For Increase In Ceiling Value Of Contract Up To RM190 Million From The Ministry Of Defence, Malaysia on 2 August 2005, the Company announced that its wholly owned subsidiary, Satang Jaya Sdn. Bhd. (“SJSB”), has received a letter from the Ministry of Defence (“MINDEF “) dated 27 July 2005 approving the increase of ceiling value of one of its contracts with MINDEF to RM190 million for the duration up to 30 September 2008. The above contract received by SJSB was for the maintenance of aviation safety and survival equipments, aviation ground support safety equipment, aircrew emergency escape system, electro-mechanical safety equipment and the maintenance of aviation compressed gas cylinders. Accordingly, the additional increase of the ceiling value of the contract granted by MINDEF is RM102 million.
(b) Memorandums of Understanding (“MOUs”) (i) on 16 March 2006, the Board of Directors of the Company announced that a Memorandum of Understanding (“MOU”) was signed by a wholly owned subsidiary of SJSB, Satang Environmental Sdn. Bhd. (“SESB”) with IIUM ENVIROTECH SDN BHD (“Envirotech”).
The purpose of this MOU is to confirm the understanding reached between SESB and Envirotech with respect to technical co-operation for carrying out of technical training, research and development and technical services in the field of deep water marine environmental assessment. SESB and Envirotech will work together to identify opportunities for collaboration which are built on the strengths of SESB and Envirotech in the field of marine environmental assessment in Malaysia specifically and the South East Asia region in general.
This MOU shall form the basis for SESB and Envirotech to enter into specific project agreements that will further detail and regulate the relationship between SESB and Envirotech hereto.
(ii) on 27 April 2006, the Board of Directors of the Company announced that a Memorandum of Understanding (“MOU”) was signed on 26 April 2006 between SJSB and Denel (Pty) Ltd-Optronics Division (“DENEL”).
This MOU is for collaborative arrangements towards establishing a maintenance and repair facility at SJSB for LEO II Observation and Surveillance System, ARGOS 410 Targeting Sight and GOSHAWK Observation System. Satang Jaya Holdings Berhad (633265-K) 86
Notes to the Financial Statements
30 September 2006
26. siGNIFICANT EVENTS (cont’d) (c) contract With Ministry of Defence (MINDEF) on 14 June 2006, the Board of Directors of the Company announced that MINDEF in principle has agreed to extend the Contractorisation Agreement with SJSB for an additional five (5) years from 30 September 2008 to 30 September 2013 in conjunction with the award of Long Term Contract to SJSB.
Under the Contractorisation Agreement, SJSB is appointed the exclusive contractor for the service and maintenance of aviation safety and survival equipment, aviation ground support safety equipment, aircrew emergency escape system, electro- mechanical safety equipment and the maintenance of aviation compressed gas cylinders for the Royal Malaysian Air Force.
The present contract ceiling of RM190 million has been almost utilised and the Company has made an application to MINDEF to increase the ceiling value of the contract for the duration up to 30 September 2008. At the last application for the increase in the ceiling value of the contract, SJSB were granted an increase of RM102 million bringing the total ceiling value to RM190 million. The Company has made an application for an increase of the ceiling value of the contract for the duration up to 30 September 2008 by more than 50% of the last increase SJSB received. The Company is confident that the application to MINDEF for the increase in new ceiling value of the contract would be successful.
The Company is also actively pursuing and negotiating with MINDEF to adopt a similar Contractorisation Agreement for the service and maintenance of safety and survival equipment for the Royal Malaysian Navy and Malaysian Army.
With the extension of the Contractorisation Agreement, the Company is confident that it would contribute positively to the earnings of the Group for the financial period/years ending 30 September 2006 to 2013.
(d) incorporation of New Sub-Subsidiary The Company has incorporated a sub-subsidiary company namely, Satang-ICS Global Sdn. Bhd. (“SGSB”) on 21 July 2006 to cater for the Group’s future business expansion needs. The principal activity of SGSB is pipe cleaning services.
(e) Joint-Venture Agreement on 7 September 2006, the Board of Directors of the Company announced that SJSB had, on the even date, entered into a shareholders’ agreement with ICS Global Holdings Sdn Bhd (“ICS Global”), for ICS Global to acquire from SJSB, 49,000 ordinary shares of RM1.00 each (“Share(s)”), equivalent to 49% equity interest in Satang-ICS Global Sdn Bhd (“Satang-ICS”) for a total consideration of RM49,000 (“Shareholders’ Agreement”). Satang-ICS will thereafter be a joint-venture partnership between SJSB and ICS Global.
in addition, on the even date, Satang-ICS had entered into a sole master distribution contract with ICS Global, whereby Satang-ICS will be the sole distributor for ICS Global’s hose, pipes and tube cleaning products, pneumatics air tools and chemical solutions for hose, pipes and tube cleaning industry and providing the maintenance, repair, services and cleaning of pipes and tubes in Malaysia, ASEAN, Asia-Pacific and Middle-East regions for three (3) years.
The duration is expected to commence immediately upon completion of the Shareholders’ Agreement, which is estimated to be within the period of one (1) month. Satang Jaya Holdings Berhad (633265-K) 87
Notes to the Financial Statements
30 September 2006
27. casH AND CASH EQUIVALENTS Cash and cash equivalents included in the cash flow statements comprise the following balance sheet amounts: Group Company 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Deposits with licensed banks 9,587,721 10,672,486 8,084,684 10,666,880 Cash and bank balances 2,002,878 4,350,915 103,031 2,788,183 Bank overdrafts (9,628,240) – – – 1,962,359 15,023,401 8,187,715 13,455,063 Deposits with licensed banks (pledged as security for trade facilities and contract) (1,502,163) – – – Cash and cash equivalents 460,196 15,023,401 8,187,715 13,455,063
28. DIVIDENDS Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Final Dividends declared on 80,000,000 ordinary shares for the financial year ended 30 June 2005 and paid on 23 January 2006 as follows: – 6.0% less 28% taxation 1,728,000 – 1,728,000 –
29. eMPLOYEE INFORMATION Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Salaries and wages 15,818,165 9,407,964 653,525 72,000 e.P.F. and Socso contributions 1,862,327 1,121,512 56,447 – other staff related expenses 999,223 633,514 2,652 – 18,679,715 11,162,990 712,624 72,000
Average number of employees 343 247 8 8
Salaries and wages include Directors’ fees and Directors’ remuneration. Satang Jaya Holdings Berhad (633265-K) 88
Notes to the Financial Statements
30 September 2006
30. relateD PARTY TRANSACTIONS The Group entered into transactions with related parties in the normal course of business on agreed terms and prices. The significant transactions between the Group and these related parties are as follows: Group Company 01.07.2005 01.07.2004 01.07.2005 01.07.2004 to to to to 30.09.2006 30.06.2005 30.09.2006 30.06.2005 rM rM rM rM
Sales to related parties 128,295 12,487 – –
Purchases from related parties – 22,596 – –
Management fee charged by related parties 35,000 23,250 – –
Management fee charged to related parties 12,000 – – –
Purchase of air travel tickets from related parties 496,536 191,151 – –
Management fee charged to subsidiary company – – 300,000 –
Dividend received from subsidiary company – – 6,000,000 3,800,000
31. seGMENTAL REPORTING The Group is primarily engaged in the maintenance, repair and overhaul of aviation and safety equipment and operations and principally in Malaysia. The other segments are not significant and accordingly, the financial information by geographical and industry segments of the Group’s operations are not presented.
32. FINANCIAL INSTRUMENTS Financial Risk Management Policies The Group is exposed to a variety of risk in the normal course of business. The Group’s risk management seeks to minimise the potential adverse effects from these exposures. The management reviews and agrees policies for managing each of these risks as follows: (a) Foreign currency risk The Group undertakes trade transactions with trade receivables and trade payables where the amounts outstanding are exposed to currency translation risks.
in order to minimise foreign exchange risks, the management closely monitor its foreign currency liabilities to ensure that they are closely matched against foreign currency assets.
(b) interest rate risk The Group is exposed to interest risk through the impact of rate changes on interest bearing assets and liabilities.
The Group monitors the interest rate on borrowings closely to ensure that the borrowings are maintained at favourable rates. Satang Jaya Holdings Berhad (633265-K) 89
Notes to the Financial Statements
30 September 2006
32. FINANCIAL INSTRUMENTS (CONT’D) (c) credit risk The Group is exposed to credit risk mainly from trade and other receivables. The Group extends credit to its customers based upon careful evaluation of the customers’ financial condition and credit history.
The Group’s exposure to credit risk in relation to its trade and other receivables, should all its customers fail to perform their obligations as at period end, is the carrying amount of these receivables as disclosed in the balance sheet.
The Group places its fixed deposits with credit worthy institutions. The carrying amount of financial assets in the financial statements, net of any provision of losses, represents the Group’s maximum exposure to credit risk without taking account of the value of any collateral or other security obtained.
(d) cash flow risk The Group reviews its cash flow position regularly to manage its exposure to fluctuations in future cash flow associated with its monetary financial instruments.
Fair Values The carrying amounts of the financial assets and financial liabilities as reflected in the balance sheet approximate their respective net fair values.
(i) Financial assets The Group’s principal financial assets are investment in subsidiary companies, intangible assets, trade and other receivables, cash and bank balances and amounts owing by subsidiary companies.
The accounting policies applicable to the major financial assets are disclosed in Note 2.
(ii) Financial liabilities Debts are classified as liabilities in accordance with the substance of the contractual agreement.
Significant financial liabilities include trade and other payables and accrued expenses.
33. events AFTER THE BALANCE SHEET Subsequent to the financial period, the following events took place for the Company and its subsidiary companies: (i) on 2 October 2006, the entire paid-up share capital of a sub-subsidiary of the Company, Port Marine Safety Services Sdn. Bhd. (“PMSS”), was transferred to the Directors. Thus, Satang Jaya Sdn. Bhd. (“SJSB”) ceased to be the holding company of PMSS.
(ii) on 22 December 2006, a wholly owned subsidiary of the Company, Satang Jaya Sdn. Bhd. (“SJSB”), had entered into a Sale and Purchase Agreement to dispose a piece of leasehold land known as Lot PT 40227, Jalan utarid U5/12, seksyen U5, 40150 Shah Alam, Selangor Darul Ehsan held under PN8415, Lot No. 40227, Mukim Sungai Buloh, district of Petaling, State of Selangor to Bukit Holding Sdn. Bhd. for a total consideration of RM1,700,728 together with other terms and conditions therein.
(iii) on 29 December 2006, the Company had entered into a Sale and Purchase Agreement with The New Straits Times Press (M) Bhd (“NSTP”) whereby NSTP agreed to sell and SJHB agreed to acquire a parcel of freehold industrial land held uner Geran 58802, Lot No. 64216 in the Mukim of Damansara, District of Petaling and State of Selangor measuring approximately 5.0 acres (or approximately 217,800 square metres) (“Land”) bearing postal address Lot No. 64216, Jalan U8/88, Seksyen 8, Bukit Jelutong, Shah Alam Selangor Darul Ehsan, for a total cash consideration of RM12,196,800 together with other terms and conditions therein.
34. FINANCIAL PERIOD The financial period of the Group and of the Company was changed from 30 June to 30 September annually. Accordingly, the comparative figures of the preceding year covered a period of 12 months whist the figures of the current period’s financial statements covered a period of 15 months from 1 July 2005 to 30 September 2006. Satang Jaya Holdings Berhad (633265-K) 90 Satang Jaya Holdings Berhad (633265-K) 91 penyata kewangan
Laporan Pengarah 92 Penyata Pengarah 96 Akuan Berkanun 96 Laporan Juruaudit 97 Kunci Kira-kira 98 Penyata Kewangan 99 Penyata Perubahan Ekuiti 100 Penyata Aliran Tunai Disatukan 101 Penyata Aliran Tunai 102 Nota-nota Penyata Kewangan 103 Satang Jaya Holdings Berhad (633265-K) 92
Laporan Pengarah
Para Pengarah dengan sukacitanya membentangkan laporan mereka bersama penyata kewangan Kumpulan dan Syarikat yang telah diaudit bagi tempoh kewangan lima belas bulan berakhir 30 September 2006.
AKTIVITI UTAMA Syarikat terlibat terutamanya dalam aktiviti pemegangan saham.
Aktiviti-aktiviti utama syarikat subsidiari telah dinyatakan pada Nota 4 dalam penyata kewangan.
Sepanjang tempoh kewangan lima belas bulan berakhir 30 September 2006, tiada perubahan ketara berlaku ke atas aktiviti-aktiviti tersebut.
KEPUTUSAN KEWANGAN Kumpulan Syarikat RM RM
Keuntungan selepas cukai 13,333,041 3,976,901 Kepentingan minoriti (49,134) – Keuntungan bersih untuk tempoh kewangan 13,283,907 3,976,901
DIVIDEN Dividen awal dan akhir sebanyak 6.0%, ditolak cukai 28% sebanyak RM1,728,000 untuk tahun sebelumnya sebagaimana yang dicadangkan di dalam laporan pengarah pada tahun itu sebelumnya dibayar oleh Syarikat pada tempoh kewangan semasa.
Para pengarah tidak mengesyorkan sebarang pembayaran dividen untuk tempoh lima belas bulan berakhir 30 September 2006.
TERBITAN SAHAM DAN DEBENTUR Tiada saham atau debentur diterbitkan sepanjang tempoh kewangan.
RIZAB DAN PERUNTUKAN Tidak terdapat pindahan penting kepada atau daripada rizab atau peruntukan sepanjang tempoh kewangan melainkan yang dinyatakan dalam penyata kewangan.
OPSYEN SAHAM Tiada opsyen diberikan oleh Syarikat kepada mana-mana pihak sepanjang tempoh kewangan untuk mendapatkan saham Syarikat yang belum diterbitkan.
Tiada saham diterbitkan sepanjang tempoh kewangan melalui pelaksanaan sebarang opsyen untuk mendapatkan saham Syarikat yang belum diterbitkan. Pada akhir tempoh kewangan, tidak terdapat saham belum terbit Syarikat di bawah opysen. Satang Jaya Holdings Berhad (633265-K) 93
LAPORAN PENGARAH
MAKLUMAT TENTANG PENYATA KEWANGAN Sebelum penyata pendapatan dan kunci kira-kira Kumpulan dan Syarikat disediakan, para Pengarah telah mengambil langkah yang munasabah: (a) bagi memastikan bahawa tindakan wajar telah diambil berhubung dengan hapus kira hutang lapuk dan peruntukan bagi hutang ragu dan telah berpuas hati bahawa semua hutang lapuk yang diketahui telah dihapus kira dan peruntukan yang mencukupi telah dibuat bagi hutang ragu; dan (b) bagi memastikan bahawa sebarang aset semasa yang tidak mungkin direalisasikan dalam perjalanan urusan biasa termasuk nilai seperti yang dinyatakan di dalam rekod perakaunan Kumpulan dan Syarikat telah dikurangkan kepada jumlah yang ia dijangka boleh direalisasikan.
Pada tarikh laporan ini, para Pengarah tidak mengetahui tentang sebarang keadaan: (a) yang akan menyebabkan jumlah yang mansuhkan kira bagi hutang lapuk atau jumlah peruntukan bagi hutang ragu dalam penyata kewangan Kumpulan dan Syarikat tidak mencukupi pada jumlah yang besar; atau (b) yang akan menyebabkan nilai yang diberikan kepada aset semasa dalam penyata kewangan Kumpulan dan Syarikat mengelirukan; atau (c) yang telah timbul yang menyebabkan pematuhan kepada kaedah semasa bagi penilaian aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak sesuai.
Tiada liabiliti luar jangka atau liabiliti lain yang telah berkuat kuasa atau berkemungkinan berkuat kuasa dalam tempoh dua belas bulan selepas akhir tempoh kewangan lima belas bulan berakhir 30 September 2006, yang, pada pendapat para Pengarah, akan atau boleh menjejaskan keupayaan Kumpulan dan Syarikat untuk menunaikan kewajipannya apabila tiba masanya.
Pada tarikh laporan ini, tidak wujud: (a) sebarang caj ke atas aset Kumpulan dan Syarikat yang timbul sejak akhir tempoh kewangan yang menjamin liabiliti pihak lain: atau (b) sebarang liabiliti luar jangka Kumpulan dan Syarikat yang timbul sejak akhir tempoh kewangan
PARA PENGARAH SYARIKAT Para Pengarah yang berkhidmat dalam Lembaga Syarikat sejak tarikh laporan terakhir adalah seperti berikut:
KOLONEL (KEHORMAT) JAMALUDDIN BIN HASSAN TUDM GAN CHIN SAM HAKIM BIN SUKIRMAN KHIR ANUAR BIN MOHAMAD LT. KOL. (R) MOHD JOHARI BIN MOHD RAIS PROF. DR. MOHD ISA BIN MOHD SAMAT DATO’ KHAIRUDDIN BIN MOHD SARI (DILANTIK PADA 17.05.2006) AHMAD SHAKIR BIN ISMAIL (LETAK JAWATAN PADA17.05.2006) ABDUL AZIZ BIN JAMAL (LETAK JAWATAN PADA 02.10.2006)
Menurut Artikel 93, Tataurusan Pertubuhan Syarikat, Khir Anuar Bin Mohamad, Lt. Kol. (R) Mohd Johari Bin Mohd Rais dan Dato’ Khairuddin Bin Mohd Sari bersara pada Mesyuarat Agung Tahunan akan datang dan, sebab layak, menawarkan diri mereka untuk dilantik semula. Satang Jaya Holdings Berhad (633265-K) 94
LAPORAN PENGARAH
KEPENTINGAN PARA PENGARAH Pemegangan saham dalam Syarikat oleh para Pengarah pada akhir tempoh kewangan, seperti yang direkodkan di dalam Daftar Pemegangan Saham Pengarah yang disimpan oleh Syarikat di bawah Seksyen 134, Akta Syarikat, 1965, adalah seperti berikut: Saham biasa bernilai RM0.50 setiap satu Baki pada Baki pada 01.07.2005 Dibeli Dijual 30.09.2006
KOLONEL (KEHORMAT) JAMALUDDIN 16,145,400 – – 16,145,400 BIN HASSAN TUDM GAN CHIN SAM 16,145,400 295,100 (10,000,000) 6,440,500 HAKIM BIN SUKIRMAN 2,279,800 – – 2,279,800 KHIR ANUAR BIN MOHAMAD 130,000 – – 130,000 LT. KOL. (R) MOHD JOHARI BIN MOHD RAIS 50,000 – – 50,000 PROF. DR. MOHD ISA BIN MOHD SAMAT 50,000 – – 50,000
Sepanjang tempoh kewangan, tiada Pengarah yang berkhidmat pada akhir tempoh kewangan mempunyai sebarang kepentingan di dalam saham biasa Syarikat atau badan-badan korporat yang berkaitan.
MANFAAT PENGARAH Sejak akhir tempoh kewangan yang lalu, tiada Pengarah Syarikat yang menerima atau berhak menerima sebarang manfaat (selain manfaat yang termasuk dalam jumlah agregat emolumen yang diterima atau akan diterima oleh para Pengarah seperti yang ditunjukkan di dalam penyata kewangan) menerusi kontrak yang dibuat oleh Syarikat atau badan korporat yang berkaitan dengan Pengarah atau dengan firma di mana beliau adalah ahli, atau dengan syarikat di mana beliau mempunyai kepentingan kewangan yang besar melainkan seperti yang direkodkan dan dinyatakan dalam nota penyata kewangan.
Sepanjang dan pada akhir tempoh kewangan, Syarikat atau Syarikat berkaitannya tidak menjadi pihak kepada sebarang persetujuan yang membolehkan pada para Pengarah mendapat manfaat melalui pemerolehan saham atau debentur Syarikat atau sebarang badan korporat yang lain.
MAKLUMAT BERKANUN LAIN Pada tarikh laporan ini, para Pengarah tidak mengetahui tentang sebarang keadaan yang tidak diperkatakan di dalam laporan ini atau penyata kewangan yang akan menjadikan mana-mana jumlah yang dinyatakan di dalam penyata kewangan Kumpulan dan Syarikat mengelirukan.
Pada pendapat para Pengarah: (a) keputusan operasi Kumpulan dan Syarikat bagi tempoh kewangan tidak dipengaruhi secara penting dan ketara oleh sebarang butiran, urus niaga atau kejadian yang penting dan luar biasa. (b) dalam jangka masa antara akhir tempoh kewangan lima belas bulan berakhir 30 September 2006 dan tarikh laporan ini, tidak timbul sebarang butiran, urus niaga atau kejadian penting dan luar biasa yang akan memberikan kesan besar atas keputusan operasi Kumpulan dan Syarikat bagi tempoh kewangan laporan ini disediakan. Satang Jaya Holdings Berhad (633265-K) 95
LAPORAN PENGARAH
PERISTIWA PENTING SEPANJANG TAHUN KEWANGAN Peristiwa penting sepanjang tempoh kewangan dinyatakan dalam Nota 26 dalam penyata kewangan.
PERISTIWA SELEPAS TARIKH KUNCI KIRA-KIRA Peristiwa selepas tarikh kunci kira-kira dinyatakan dalam Nota 33 dalam penyata kewangan. juruaudit Tetuan Leou & Associates telah menyatakan kesediaan untuk meneruskan khidmat mereka.
Ditandatangani bagi pihak Lembaga mengikut satu resolusi para Pengarah,
KOLONEL (kehormat) JAMALUDDIN HAKIM BIN SUKIRMAN BIN HASSAN TUDM
KUALA LUMPUR 23 Januari 2007 Satang Jaya Holdings Berhad (633265-K) 96
Penyata Pengarah menurut Seksyen 169(15) Akta Syarikat, 1965
Kami, KOLONEL (KEHORMAT) JAMALUDDIN BIN HASSAN TUDM dan HAKIM BIN SUKIRMAN, dua daripada para Pengarah SATANG JAYA HOLDINGS BERHAD, dengan ini menyatakan bahawa, pada pendapat para Pengarah, Kunci Kira-Kira, Penyata Pendapatan, Penyata Perubahan Ekuiti dan Penyata Aliran Tunai Kumpulan dan Syarikat, bersama dengan nota-notanya, telah disediakan mengikut peruntukan Akta Syarikat, 1965 dan piawai perakaunan berkenaan yang diluluskan di Malaysia untuk memberikan gambaran yang benar dan saksama tentang keadaan urusan Kumpulan dan Syarikat pada 30 September 2006 serta keputusan dan aliran tunai Kumpulan dan Syarikat bagi tempoh kewangan lima belas bulan berakhir 30 September 2006.
Ditandatangani bagi pihak Lembaga mengikut satu resolusi para Pengarah,
KOLONEL (KEHORMAT) JAMALUDDIN HAKIM BIN SUKIRMAN BIN HASSAN TUDM
KUALA LUMPUR 23 Januari 2007
Akuan Berkanun menurut Seksyen 169(16) Akta Syarikat, 1965
Saya, KHIR ANUAR BIN MOHAMAD, Pengarah yang terutamanya bertanggungjawab terhadap pengurusan kewangan SATANG JAYA HOLDINGS BERHAD, dengan sesungguhnya dan seikhlasnya mengaku bahawa, sepanjang pengetahuan dan kepercayaan saya, Kunci Kira-Kira, Penyata Pendapatan, Penyata Perubahan Ekuiti dan Aliran Tunai Kumpulan dan Syarikat, bersama dengan nota-notanya, adalah, mengikut pendapat saya, betul, dan saya membuat pengakuan ini sesungguhnya dengan mempercayai bahawa ia adalah benar dan menurut peruntukan Akta Akuan Berkanun, 1960.
Ditandatangani dan diakui sesungguhnya oleh } KHIR ANUAR BIN MOHAMAD yang tersebut } KHIR ANUAR BIN MOHAMAD di atas di Wilayah Persekutuan Kuala Lumpur } Pengarah Eksekutif pada 23 Januari 2007 }
Di hadapan saya:
ShaFie bin Daud (No. W350) Pesuruhjaya Sumpah Satang Jaya Holdings Berhad (633265-K) 97
Laporan Juruaudit kepada ahli-ahli Satang Jaya Holdings Berhad
Kami telah mengaudit penyata kewangan SATANG JAYA HOLDINGS BERHAD. Penyata kewangan ini adalah tanggungjawab para Pengarah Syarikat.
Kami bertanggungjawab untuk memberikan pendapat yang bebas, berdasarkan audit kami, mengenai penyata kewangan tersebut dan melaporkan pendapat kami kepada anda, sebagai sebuah badan, menurut Seksyen 174, Akta Syarikat, 1965 dan bukan untuk tujuan lain. Kami tidak bertanggungjawab kepada mana-mana orang lain bagi kandungan laporan ini.
Kami telah menjalankan audit menurut piawai pengauditan yang diluluskan di Malaysia. Piawai tersebut memerlukan kami merancang dan melaksanakan audit untuk mendapatkan semua maklumat dan penjelasan yang kami anggap perlu untuk mendapatkan bukti bagi memberikan kepastian yang munasabah bahawa penyata kewangan ini bebas daripada pernyataan silap yang penting. Suatu audit merangkumi pemeriksaan, melalui asas ujian, bukti yang menyokong jumlah dan pendedahan dalam penyata kewangan. Suatu audit juga termasuklah menilai prinsip perakaunan yang digunakan dan anggaran penting yang dilakukan oleh para Pengarah, di samping menilai pembentangan penyata kewangan secara keseluruhan. Kami percaya bahawa audit kami memberikan asas yang munasabah bagi pendapat kami.
Pada pendapat kami: (a) penyata kewangan di atas telah disediakan menurut peruntukan Akta Syarikat, 1965 dan piawai perakaunan berkenaan yang diluluskan di Malaysia untuk memberikan gambaran yang benar dan saksama tentang: (i) keadaan urusan Kumpulan dan Syarikat pada 30 September 2006 dan keputusan serta aliran tunai Kumpulan dan Syarikat bagi tempoh kewangan lima belas bulan berakhir pada tarikh tersebut; dan
(ii) perkara yang dikehendaki oleh Seksyen 169 Akta Syarikat, 1965 untuk diambil kira dalam penyata kewangan; dan
(b) rekod perakaunan dan rekod lain serta daftar yang diperlukan oleh Akta untuk disimpan oleh Syarikat dan syarikat subsidiarinya telah disimpan dengan baik mengikut peruntukan Akta tersebut.
Kami berpuas hati bahawa penyata kewangan syarikat subsidiari yang telah disatukan dengan penyata kewangan Syarikat adalah sesuai dan wajar dalam bentuk dan kandungan bagi tujuan penyediaan penyata kewangan yang disatukan, dan kami telah menerima maklumat dan penjelasan yang memuaskan sebagaimana yang dikehendaki oleh kami bagi tujuan tersebut.
Laporan juruaudit mengenai penyata kewangan syarikat subsidiari tidak tertakluk pada sebarang syarat dan tidak termasuk sebarang ulasan yang dikehendaki untuk dibuat di bawah Seksyen 174 (3) Akta tersebut
LEOU & ASSOCIATES LEOU THIAM LAI AKAUNTAN BERTAULIAH JURUAUDIT SYARIKAT YANG DILULUSKAN NO. FIRMA: AF – 0659 NO. KELULUSAN PERBENDAHARAAN.1269/6/08 (J)
KUALA LUMPUR 23 Januari 2007 Satang Jaya Holdings Berhad (633265-K) 98
Kunci Kira-kira pada 30 September 2006
Kumpulan Syarikat Nota 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
HARTANAH, LOJI DAN PERALATAN 3 5,410,403 3,810,960 – – PELABURAN DALAM SYARIKAT SUBSIDIARI 4 – – 20,575,000 20,575,000 PELABURAN DALAM SYARIKAT BERSEKUTU 5 159,600 159,600 – – LAIN-LAIN PELABURAN 6 23,000 23,000 – – JUMLAH TERHUTANG DARIPADA SYARIKAT SUBSIDIARI 7 – – 19,013,666 11,775,742 JUMLAH TERHUTANG DARIPADA SYARIKAT BERSEKUTU 8 11,002 11,002 – – MUHIBAH PADA PENYATUAN 9 210,289 249,231 – – PERBELANJAAN PRA-KONTRAK 10 687 183,401 – – PERBELANJAAN PRA-OPERASI 12,234 – – –
ASET SEMASA Inventori 11 159,582 348,686 – – Penghutung Perdagangan 12 62,734,822 42,476,878 – – Penghutang lain dan deposit 10,726,807 3,016,065 243,979 – Simpanan dengan bank berlesen 13 9,587,721 10,672,486 8,084,684 10,666,880 Cukai boleh diperolehi semula 463,745 159,221 19,404 24,000 Wang Tunai and baki di bank 2,002,878 4,350,915 103,031 2,788,183 85,675,555 61,024,251 8,451,098 13,479,063
LIABILITI SEMASA Pemiutang Perdagangan 14 2,733,150 1,864,017 – – Pemiutang lain dan akruan 1,736,890 3,137,681 42,038 17,235 Sewa beli belum bayar 15 199,203 19,323 – – Bil belum bayar 16 11,721,299 5,277,671 – – Jumlah terhutang kepada pihak berkaitan 17 – 6,000 – – Peruntukan untuk cukai 2,200,064 4,502,081 – – Overdraf Bank 16 9,628,240 – – – 28,218,846 14,806,773 42,038 17,235 ASET SEMASA BERSIH 57,456,710 46,217,478 8,409,060 13,461,828 63,283,925 50,654,672 47,997,726 45,812,570
DIBIAYAI OLEH: EKUITI PEMEGANG SAHAM Modal Saham 18 40,000,000 40,000,000 40,000,000 40,000,000 Rizab 19 22,068,291 10,576,129 7,997,726 5,812,570 JUMLAH EKUITI PEMEGANG SAHAM 62,068,291 50,576,129 47,997,726 45,812,570 Kepentingan minoriti 149,450 51,317 – – Sewa beli belum bayar 15 1,009,584 8,226 – – Liabiliti cukai tertunda 20 56,600 19,000 – – 63,283,925 50,654,672 47,997,726 45,812,570
Nota yang disertakan adalah bahagian penting Penyata Kewangan. Satang Jaya Holdings Berhad (633265-K) 99
Penyata Kewangan bagi tempoh lima belas bulan berakhir 30 September 2006
Kumpulan Syarikat Nota 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Hasil 21 85,855,733 67,950,443 6,000,000 3,800,000 Kos jualan (43,089,076) (37,254,814) – – Untung kasar 42,766,657 30,695,629 6,000,000 3,800,000 Pendapatan lain 1,319,385 226,450 603,820 14,102 Perbelanjaan pentadbiran (22,595,277) (17,486,055) (942,323) (99,633) Kos kewangan (1,047,267) (729,610) – – Untung sebelum zakat dan cukai 22 20,443,498 12,706,414 5,661,497 3,714,469 Zakat 23 (255,104) – – – Cukai 24 (6,855,353) (3,681,626) (1,684,596) (1,040,000) Untung selepas zakat dan cukai 13,333,041 9,024,788 3,976,901 2,674,469 Kepentingan minoriti (49,134) (12,205) – – Untung pra-pemerolehan – (4,522,879) – – Untung bersih bagi tempoh/tahun 13,283,907 4,489,704 3,976,901 2,674,469
Perolehan sesaham (sen) – Asas 25 16.60 12.68
Dividen sesaham (%) – Cadangan – 6.0
Nota yang disertakan adalah bahagian penting Penyata Kewangan. Satang Jaya Holdings Berhad (633265-K) 100
Penyata Perubahan Ekuiti bagi tempoh lima belas bulan berakhir 30 September 2006
(Rugi terkumpul)/ Modal Premium Rizab atas Untung belum Saham Saham Penyatuan diasingkan Jumlah RM RM RM RM RM
KUMPULAN Baki pada 1 Julai 2004 2,000 – – (1,840) 160 Pemerolehan subsidiari 20,575,000 – – – 20,575,000 Saham diterbitkan 14,423,000 – – – 14,423,000 Terbitan awam 5,000,000 3,139,941 – – 8,139,941 Rizab daripada pemerolehan syarikat subsidiari – – 2,948,324 – 2,948,324 Untung bagi tahun – – – 4,489,704 4,489,704 Baki pada 30 Jun 2005 40,000,000 3,139,941 2,948,324 4,487,864 50,576,129 Dividen (Nota 28) – – – (1,728,000) (1,728,000) Perbelanjaan penyenaraian saham terlibat – (63,745) – – (63,745) Untung bagi tempoh – – – 13,283,907 13,283,907 Baki pada 30 September 2006 40,000,000 3,076,196 2,948,324 16,043,771 62,068,291
Tidak boleh agih Boleh agih
(Rugi terkumpul)/ Modal Premium Rizab atas Untung belum Saham Saham Penyatuan diasingkan Jumlah RM RM RM RM RM
SYARIKAT Baki pada 1 Julai 2004 2,000 – – (1,840) 160 Pemerolehan subsidiari 20,575,000 – – – 20,575,000 Saham diterbitkan 14,423,000 – – – 14,423,000 Terbitan awam 5,000,000 3,139,941 – – 8,139,941 Untung bagi tahun – – – 2,674,469 2,674,469 Baki pada 30 Jun 2005 40,000,000 3,139,941 – 2,672,629 45,812,570 Dividen (Nota 28) – – – (1,728,000) (1,728,000) Perbelanjaan terbitan saham terlibat – (63,745) – – (63,745) Untung bagi tempoh – – – 3,976,901 3,976,901 Baki pada 30 September 2006 40,000,000 3,076,196 – 4,921,530 47,997,726
Nota yang disertakan adalah bahagian penting Penyata Kewangan. Satang Jaya Holdings Berhad (633265-K) 101
Penyata Aliran Tunai Disatukan bagi tempoh lima belas bulan berakhir 30 September 2006
01.07.2005 01.07.2004 hingga hingga 30.09.2006 30.06.2005 Nota RM RM
ALIRAN TUNAI DARIPADA AKTIVITI OPERASI Keuntungan sebelum cukai 20,443,498 12,706,414 Pelarasan untuk: Untung prapemerolehan – (6,369,794) Pelunasan muhibah pada penyatuan 38,942 15,577 Susut nilai hartanah, loji dan peralatan 1,577,406 510,458 Laba daripada pelupusan harta, loji dan peralatan (164,547) (77,855) Hartanah, loji dan peralatan dihapus kira 132,377 – Perbelanjaan faedah 1,030,050 214,318 Pendapatan faedah (603,876) (24,488) Untung operasi sebelum perubahan modal kerja 22,453,850 6,974,630 Inventori 189,104 (12,868) Jumlah belum terima (27,354,756) (17,629,206) Jumlah belum bayar 5,911,970 225,264 Para Pengarah – (75,102) Pihak berkaitan (6,000) 6,000 Tunai dijana daripada/(digunakan dalam) operasi 1,194,168 (10,511,282) Faedah dibayar (1,030,050) (214,318) Cukai dibayar (9,449,826) (1,312,609) Cukai bayar balik 25,531 – Zakat dibayar (255,104) – Perbelanjaan pra-penyenaraian – 874,015 Perbelanjaan pra-kontrak 182,714 75,233 Perbelanjaan pra-operasi (12,234) – Tunai bersih digunakan dalam aktiviti operasi (9,344,801) (11,088,961)
ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN Deposit dengan institusi kewangan berlesen (1,502,163) – Faedah diterima 603,876 24,488 Hasil daripada pelupusan hartanah, loji dan peralatan 359,097 101,326 Pembelian hartanah, loji dan peralatan (2,761,906) (414,801) Pemerolehan subsidiari (bersih) 4 – 4,282,653 Tunai bersih (digunakan dalam)/dijana daripada aktiviti pelaburan (3,301,096) 3,993,666
ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN Dividen dibayar (1,728,000) – Hasil daripada terbitan modal saham selepas ditolak perbelanjaan penyenaraian – 22,562,941 Hasil daripada terbitan modal saham kepada kepentingan minoriti di dalam syarikat subsidiari 49,000 – Bayaran balik pinjaman bank – (205,964) Bayaran balik sewa beli belum bayar (174,563) (238,283) Perbelanjaan penyenaraian dibayar (63,745) – Tunai bersih (digunakan dalam)/dijana daripada aktiviti pembiayaan (1,917,308) 22,118,694
(PENGURANGAN)/PERTAMBAHAN BERSIH TUNAI DAN TUNAI SETARA (14,563,205) 15,023,399 TUNAI DAN TUNAI SETARA PADA PERMULAAN TEMPOH/TAHUN 15,023,401 2 TUNAI DAN TUNAI SETARA PADA AKHIR TEMPOH/TAHUN 27 460,196 15,023,401
Nota yang disertakan adalah bahagian penting Penyata Kewangan. Satang Jaya Holdings Berhad (633265-K) 102
Penyata Aliran Tunai bagi tempoh lima belas bulan berakhir 30 September 2006
01.07.2005 01.07.2004 hingga hingga 30.09.2006 30.06.2005 Nota RM RM
ALIRAN TUNAI DARIPADA AKTIVITI OPERASI Untung sebelum cukai 5,661,497 3,714,469 Pelarasan bagi: Pendapatan dividen (6,000,000) (3,800,000) Pendapatan faedah (171,996) (14,102) Rugi operasi sebelum perubahan modal kerja (510,499) (99,633) Jumlah belum bayar (243,979) – Jumlah perlu dibayar 24,803 15,395 Jumlah terhutang kepada para Pengarah – (75,102) Jumlah terhutang kepada syarikat subsidiari (7,237,924) (11,775,742) Tunai digunakan dalam operasi (7,967,599) (11,935,082) Perbelanjaan pra-penyenaraian – 77,100 Tunai bersih digunakan dalam aktiviti operasi (7,967,599) (11,857,982)
ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN Dividen diterima 4,320,000 2,736,000 Faedah diterima 171,996 14,102 Tunai bersih dijana daripada aktiviti pelaburan 4,491,996 2,750,102
ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN Hasil daripada terbitan modal saham selepas ditolak perbelanjaan penyenaraian – 22,562,941 Perbelanjaan penyenaraian dibayar (63,745) – Dividen dibayar (1,728,000) – Tunai bersih (digunakan dalam)/daripada aktiviti pembiayaan (1,791,745) 22,562,941
(PENGURANGAN)/PERTAMBAHAN BERSIH TUNAI DAN Persamaan tunai (5,267,348) 13,455,061 TUNAI DAN Persamaan tunai PADA PERMULAAN TAHUN/TEMPOH 13,455,063 2 TUNAI DAN Persamaan tunai PADA AKHIR TAHUN/TEMPOH 27 8,187,715 13,455,063
Nota yang disertakan adalah bahagian penting Penyata Kewangan. Satang Jaya Holdings Berhad (633265-K) 103
Nota-nota Penyata Kewangan 30 September 2006
1. AKTIVITI UTAMA DAN MAKLUMAT AM Syarikat terlibat terutamanya dalam aktiviti pegangan pelaburan.
Aktiviti utama syarikat subsidiarinya dinyatakan dalam Nota 4 dalam penyata kewangan.
Tidak terdapat perubahan penting dalam aktiviti Syarikat dan syarikat subsidiarinya sepanjang tempoh kewangan.
Pejabat berdaftarnya terletak di 149-A, Jalan Aminuddin Baki, Taman Tun Dr. Ismail, 60000 Kuala Lumpur.
Tempat perniagaan utamanya terletak di 29 & 31, Jalan Tiara, Bandar Baru Klang, 41150 Klang, Selangor Darul Ehsan.
Syarikat adalah sebuah syarikat liabiliti terhad awam, diperbadankan dan bermastautin di Malaysia dan disenaraikan pada Papan Kedua Bursa Malaysia Securities Berhad.
Penyata kewangan ini diluluskan untuk terbitan oleh Lembaga Pengarah menurut satu resolusi para Pengarah pada 23 Januari 2007.
2. DASAR PERAKAUNAN PENTING (a) Asas Perakaunan Penyata kewangan Kumpulan dan Syarikat telah disediakan menurut konvensyen kos sejarah dan mematuhi peruntukan Akta Syarikat, 1965 dan piawai perakaunan berkenaan yang diluluskan di Malaysia.
(b) Asas Penyatuan (i) Syarikat Subsidiari Penyata kewangan disatukan termasuk penyata kewangan Syarikat dan semua syarikat subsidiarinya yang disediakan sehingga akhir tempoh kewangan.
Penyata kewangan syarikat subsidiari yang diperolehi dan dilupuskan sepanjang tempoh kewangan adalah dimasukkan dalam penyata kewangan disatukan berdasarkan kaedah pemerolehan dari tarikh kuat kuasa pemerolehan atau sehingga tarikh kuat kuasa pelupusan.
Urus niaga, baki dan laba belum terealisasi dalam Kumpulan dihapuskan pada penyatuan dan penyata kewangan disatukan hanya mencerminkan urus niaga luaran. Rugi belum terealisasi dihapuskan pada penyatuan melainkan jika kos tidak boleh diperolehi semula.
Lebihan di antara kos pemerolehan dan nilai saksama bahagian Kumpulan dalam aset bersih syarikat subsidiari yang diperolehi pada tarikh pemerolehan dimasukkan dalam kunci kira-kira disatukan sebagai muhibah pada penyatuan dan dilunaskan mengikut kaedah garis lurus sepanjang anggaran hayat bergunanya atau 10 tahun, yang mana lebih pendek. Muhibah pada penyatuan disemak semula pada setiap tarikh kunci kira-kira dan akan diturun nilai bagi rosot nilai yang dianggap perlu. Rizab pada penyatuan tidak dilunaskan.
Defisit antara kos pemerolehan dan nilai saksama bahagian Kumpulan dalam aset bersih syarikat subsidiari yang diperolehi pada tarikh pemerolehan dimasukkan dalam kunci kira-kira disatukan sebagai rizab yang berbangkit pada penyatuan.
Laba atau rugi daripada pelupusan sebuah syarikat subsidiari adalah perbezaan antara hasil pelupusan bersih dan bahagian Kumpulan dalam aset bersihnya berserta sebarang baki muhibah belum lunas dan perbezaan pertukaran yang tidak diiktiraf sebelum ini dalam penyata kewangan. Satang Jaya Holdings Berhad (633265-K) 104
NotA-NOTA PENYATA KEWANGAN
30 September 2006
2. DASAR PERAKAUNAN PENTING (SAMB.) (b) Asas Penyatuan (Samb.) (ii) Syarikat bersekutu Syarikat bersekutu adalah syarikat di mana Kumpulan mempunyai kepentingan ekuiti jangka panjang dan ia mempunyai pengaruh penting ke atas dasar kewangan dan operasi.
Pelaburan dalam syarikat bersekutu diambil kira dalam penyata kewangan disatukan mengikut kaedah perakaunan ekuiti berdasarkan penyata kewangan pengurusan atau yang telah diaudit. Di bawah kaedah perakaunan ekuiti, bahagian Kumpulan dalam untung selepas pemerolehan selepas ditolak kerugian syarikat bersekutu sepanjang tempoh kajian dimasukkan ke dalam penyata kewangan disatukan. Kepentingan Kumpulan dalam syarikat bersekutu dicatatkan dalam kunci kira-kira disatukan pada kos serta bahagian Kumpulan dalam untung tertahan atau rugi terkumpul selepas pemerolehan dan rizab lain berserta muhibah pada penyatuan.
Laba belum terealisasi daripada urus niaga antara Kumpulan dan syarikat bersekutu dihapuskan setakat kepentingan Kumpulan dalam syarikat bersekutu tersebut. Rugi belum terealisasi dihapuskan melainkan jika kos tidak boleh dipulihkan.
Walau bagaimanapun, tiada penyata kewangan disatukan disediakan bagi pelaburan dalam syarikat bersekutu kerana para Pengarah berpendapat bahawa ia tidak mempunyai kesan penting ke atas keputusan Kumpulan.
(c) Hartanah, loji dan peralatan dan susutnilai Hartanah, loji dan peralatan dinyatakan pada kos selepas ditolak susut nilai terkumpul dan kerugian rosot nilai. Dasar pengiktirafan dan pengukuran kerugian rosot nilai adalah mengikut Nota 2(e).
Laba atau kerugian daripada pelupusan suatu aset ditentukan sebagai perbezaan antara anggaran hasil pelupusan bersih dan jumlah dibawa aset tersebut, dan diiktiraf dalam penyata pendapatan.
Tanah industri pegangan pajakan dan kilang pegangan pajakan dilunaskan sepanjang baki tempoh pajakan. Hartanah, loji dan peralatan lain disusut nilai mengikut kaedah garis lurus berasaskan anggaran hayat berguna mereka. Kadar tahunan utama yang digunakan adalah seperti berikut:- Nilai
Perabot dan kelengkapan 10 – 20 % Peralatan pejabat 10 – 20 % Perkakas dan peralatan 10 – 20 % Kenderaan bermotor 20 % Pengubahsuaian 20 % Komputer 20 – 33.33 %
(d) Sewa beli Hartanah, loji dan peralatan yang diperoleh melalui perjanjian sewa beli adalah dipermodalkan pada kos belian dan susut nilai diperuntukkan mengikut asas yang sama seperti aset yang dimiliki. Jumlah yang perlu dibayar di bawah perjanjian sewa beli ditunjukkan di bawah sewa beli belum bayar. Faedah dicaj kepada penyata pendapatan sepanjang tempoh sewa beli. Satang Jaya Holdings Berhad (633265-K) 105
NotA-NOTA PENYATA KEWANGAN
30 September 2006
2. DASAR PERAKAUNAN PENTING (SAMB.) (e) Rosot nilai aset Pada setiap tarikh kunci kira-kira, Kumpulan menyemak semula jumlah dibawa bagi asetnya, selain daripada inventori, aset cukai tertunda dan aset kewangan, bagi menentukan sama ada terdapat sebarang tanda rosot nilai. Jika terdapat tanda seperti itu, rosot nilai diukur dengan membandingkan nilai dibawa bagi aset itu dengan jumlah boleh pulihnya. Jumlah yang boleh diperolehi semula adalah jumlah tertinggi daripada harga jualan bersih dan nilai dalam penggunaan, yang diukur dengan merujuk aliran tunai masa depan terdiskaun. Jumlah yang boleh diperolehi semula dianggarkan untuk aset individu atau, jika tidak mungkin, untuk unit janaan tunai aset tersebut.
Kerugian rosot nilai dicaj kepada penyata pendapatan dengan segera, melainkan aset itu dibawa pada jumlah dinilai semula. Sebarang kerugian rosot nilai aset yang dinilai semula dianggap sebagai penurunan penilaian semula setakat sebarang lebihan penilaian semula yang diiktiraf sebelum ini bagi aset yang sama.
(f) Syarikat subsidiari Sebuah syarikat subsidiari ialah sebuah syarikat yang lebih 50% daripada modal saham ekuitinya dimiliki oleh Kumpulan, secara langsung atau tidak langsung, dan ia mempunyai kuasa atas dasar kewangan dan operasinya untuk mendapatkan manfaat daripada aktivitinya.
Pelaburan dalam syarikat subsidiari dinyatakan pada kos sejarah selepas ditolak kerugian rosot nilai. Dasar pengiktirafan dan pengukuran kerugian rosot nilai adalah mengikut Nota 2(e).
Apabila pelaburan dilupuskan, perbezaan di antara hasil pelupusan bersih dan jumlah dibawanya diiktiraf dalam penyata pendapatan.
(g) Syarikat bersekutu Syarikat bersekutu adalah syarikat yang Kumpulan mempunyai kepentingan efektif jangka panjang antara 20% hingga 50% daripada modal ekuiti dan Kumpulan berada dalam kedudukan untuk mempengaruhi pihak pengurusan.
Pelaburan dalam syarikat bersekutu dinyatakan pada kos sejarah selepas ditolak kerugian rosot nilai. Dasar pengiktirafan dan pengukuran kerugian rosot nilai adalah mengikut Nota 2(e).
Apabila pelaburan dilupuskan, perbezaan di antara hasil pelupusan bersih dan jumlah dibawanya diiktiraf dalam penyata pendapatan.
(h) Inventori Inventori dinilai pada nilai terendah antara kos dan nilai boleh realis bersih. Kos ditentukan atas asas masuk dahulu, keluar dahulu (FIFO).
(i) Pihak berkaitan Dua pihak dianggap berkaitan jika satu pihak berkeupayaan mengawal pihak lain atau menggunakan pengaruhnya terhadap pihak lain, sehingga ia menghalang pihak lain daripada membuat keputusan kewangan dan operasi demi kepentingannya sendiri. Satang Jaya Holdings Berhad (633265-K) 106
NotA-NOTA KEPADA PENYATA KEWANGAN
30 September 2006
2. DASAR PERAKAUNAN PENTING (SAMB.) (j) Urus niaga pertukaran asing Urus niaga pertukaran asing ditukar kepada Ringgit Malaysia pada kadar pertukaran yang lazim pada tarikh urus niaga dan, sekiranya penjelasan tidak berlaku pada tarikh kunci kira-kira, pada kadar anggaran yang lazim pada tarikh itu. Semua laba dan kerugian daripada pertukaran dimasukkan dalam penyata pendapatan.
Kadar penutup prinsipal yang digunakan dalam pertukaran mata wang asing adalah seperti berikut: Mata wang asing 30.09.2006 30.06.2005
1 Dolar AS RM 3.6860 RM 3.8000 1 Dolar Singapura RM 2.3229 RM 2.2576 1 Paun Sterling RM 6.8871 RM 6.8685
(k) Peruntukan liabiliti Peruntukan liabiliti diiktiraf apabila Kumpulan mempunyai obligasi semasa akibat peristiwa masa lalu dan kemungkinan bahawa aliran keluar sumber yang terdiri daripada manfaat ekonomi akan diperlukan untuk menjelaskan obligasi itu, dan satu anggaran yang boleh dipercayai tentang jumlah tersebut boleh dibuat. Peruntukan disemak semula pada setiap tarikh kunci kira-kira dan dilaraskan bagi mencerminkan anggaran semasa yang terbaik. Jika kesan nilai masa wang adalah penting, jumlah satu peruntukan adalah nilai semasa perbelanjaan yang dijangka diperlukan bagi menjelaskan obligasi tersebut.
(l) Cukai pendapatan Cukai dalam penyata pendapatan mewakili jumlah agregat cukai semasa dan tertunda. Cukai semasa ialah jangkaan jumlah yang perlu dibayar berhubung dengan pendapatan boleh cukai bagi tahun itu dan sebarang pelarasan yang diiktiraf dalam tahun tersebut bagi cukai semasa tahun terdahulu.
Cukai tertunda diiktiraf mengikut kaedah liabiliti atas semua perbezaan sementara kecuali jika perbezaan sementara itu timbul daripada muhibah atau muhibah negatif atau daripada pengiktirafan awal suatu asset atau liabiliti dalam urus niaga yang bukan suatu kombinasi perniagaan dan pada masa urus niaga itu, tidak mempengaruhi sama ada untung perakaunan atau untung boleh cukai. Cukai tertunda diukur pada kadar cukai yang dijangka diguna pakai dalam tempoh aset itu direalisasikan atau liabiliti itu dijelaskan.
Cukai tertunda diiktiraf dalam ekuiti apabila ia berkaitan dengan butiran yang diiktiraf secara langsung dalam ekuiti. Apabila cukai tertunda berbangkit daripada kombinasi perniagaan yang merupakan suatu pemerolehan, cukai tertunda itu dimasukkan dalam muhibah atau muhibah negatif yang terhasil.
Aset cukai tertunda diiktiraf hanya setakat bahawa terdapat perbezaan sementara boleh cukai yang mencukupi berkaitan dengan pihak berkuasa cukai yang sama bagi mengimbangi atau apabila berkemungkinan bahawa pendapatan boleh cukai masa depan akan tersedia terhadap aset itu boleh digunakan.
(m) Pengiktirafan hasil Jualan diiktiraf apabila produk diserahkan dan diterima oleh pelanggan, selepas ditolak diskaun, dan selepas menghapuskan jualan dalam Kumpulan.
Pendapatan dividen – apabila hak untuk menerima bayaran telah ditetapkan.
Hasil lain yang diperoleh oleh Kumpulan diiktiraf mengikut asas berikut: Pendapatan faedah – apabila ia terakru melainkan pemulihan semula diragui. Satang Jaya Holdings Berhad (633265-K) 107
NOTA-NOTA PENYATA KEWANGAN
30 September 2006
2. DASAR PERAKAUNAN PENTING (SAMB.) (n) Perbelanjaan Pra-kontrak Apabila kesudahan kontrak pembinaan boleh dianggarkan dengan pasti, hasil dan kos kontrak masing-masing diiktiraf sebagai hasil dan belanja dengan menggunakan kaedah tahap penyiapan. Tahap penyiapan diukur dengan merujuk kadar kos kontrak yang ditanggung bagi kerja yang dilaksanakan kepada anggaran jumlah kos kontrak.
Apabila kesudahan kontrak pembinaan tidak boleh dianggarkan dengan pasti, hasil kontrak diiktiraf setakat kos kontrak yang mungkin boleh diperolehi semula. Kos kontrak diiktiraf sebagai belanja dalam tempoh ia ditanggung.
Apabila terdapat kemungkinan bahawa jumlah kos kontrak akan melebihi jumlah hasil kontrak, kerugian yang dijangka diiktiraf sebagai belanja dengan segera.
Apabila jumlah kos yang ditanggung daripada kontrak pembinaan berserta untung diiktiraf (tolak kerugian diiktiraf) melebihi pengebilan berperingkat, baki ditunjukkan sebagai jumlah yang terhutang daripada pelanggan. Apabila pengebilan berperingkat melebihi kos yang ditanggung berserta untung diiktiraf (tolak kerugian diiktiraf), baki ditunjukkan sebagai jumlah yang terhutang kepada pelanggan.
(o) Zakat Ini adalah zakat perniagaan, yang merupakan satu jumlah yang wajib dibayar oleh Syarikat untuk mematuhi Hukum Syarak. Peruntukan zakat dikira mengikut kaedah kadar pertumbuhan dana pemegang saham sebanyak 2.5%.
(p) Tunai dan tunai setara Kumpulan dan Syarikat mengguna pakai kaedah tidak langsung dalam penyediaan penyata aliran tunai.
Tunai dan tunai setara adalah pelaburan jangka pendek yang sangat cair dengan kematangan tiga bulan atau kurang dari tarikh pemerolehan dan mudah ditukar kepada tunai dengan risiko perubahan nilai yang kecil.
(q) Faedah pekerja (i) Faedah jangka pendek Gaji, upah, bonus dan caruman keselamatan sosial diiktiraf sebagai belanja dalam tahun Kumpulan pekerja memberikan perkhidmatan berkaitan. Ketidakhadiran berganjaran terkumpul jangka pendek seperti cuti tahunan bergaji diiktiraf apabila perkhidmatan diberikan oleh pekerja yang menambah hak mereka kepada ketidakhadiran berganjaran masa depan, dan ketidakhadiran berganjaran tak terkumpul jangka pendek seperti cuti sakit diiktiraf apabila ketidakhadiran seperti itu berlaku.
(ii) Pelan caruman khusus Seperti yang dikehendaki oleh undang-undang, syarikat di Malaysia membuat caruman kepada skim pencen negara, iaitu Kumpulan Wang Simpanan Pekerja (KWSP). Caruman seperti itu diiktiraf sebagai belanja dalam penyata pendapatan apabila ia dibuat. Satang Jaya Holdings Berhad (633265-K) 108
NotA-NOTA PENYATA KEWANGAN
30 September 2006
2. DASAR PERAKAUNAN PENTING (SAMB.) (r) Instrumen kewangan Instrumen kewangan diiktiraf dalam kunci kira-kira apabila Kumpulan telah menjadi pihak kepada peruntukan berkontrak instrumen tersebut.
Instrumen kewangan dikelaskan sebagai liabiliti atau ekuiti mengikut perjanjian berkontrak. Faedah, dividen, laba dan kerugian berhubung dengan instrumen kewangan yang dikelaskan sebagai liabiliti adalah dilaporkan sebagai perbelanjaan atau pendapatan. Pengagihan kepada pemegang instrumen kewangan yang dikelaskan sebagai ekuiti adalah dicaj secara langsung kepada ekuiti.
Instrumen kewangan diimbangi apabila Kumpulan mempunyai hak yang boleh dikuatkuasakan di sisi undang-undang untuk mengimbangi dan berniat untuk menjelaskan sama ada atas asas bersih atau untuk merealisasikan aset dan menjelaskan liabiliti secara serentak.
Instrumen kewangan yang diiktiraf di dalam Kunci Kira-kira dinyatakan pada penyata polisi individu mengikut setiap perkara yang berkaitan.
(i) Pelaburan bukan semasa lain Pelaburan bukan semasa selain daripada pelaburan dalam subsidiari, syarikat bersekutu dan usaha sama dinyatakan pada kos selepas ditolak kerugian rosot nilai. Dasar pengiktirafan dan pengukuran kerugian rosot nilai adalah mengikut Nota 2(e).
Apabila suatu pelaburan dilupuskan, perbezaan antara hasil pelupusan bersih dan jumlah dibawanya diiktiraf dalam penyata pendapatan.
(ii) Jumlah belum diterima Jumlah belum terima dicatatkan pada nilai boleh realis dijangka. Hutang lapuk dihapus kira apabila dikenal pasti. Anggaran dibuat bagi hutang lapuk berdasarkan penyemakan semula semua jumlah belum jelas pada tarikh kunci kira-kira.
(iii) Jumlah belum dibayar Jumlah belum bayar dinyatakan pada kos, yang merupakan nilai saksama pertimbangan yang akan dibayar pada masa depan bagi barangan dan perkhidmatan yang diterima.
(iv) Pinjaman berfaedah Pinjaman bank berfaedah dicatatkan pada nilai muka jumlah pinjaman.
Kos peminjaman yang berkaitan secara langsung dengan pemerolehan, pembinaan atau pengeluaran aset bersyarat, yang merupakan aset yang perlu mengambil tempoh masa yang lama untuk digunakan atau dijual, adalah dipermodalkan sebagai sebahagian daripada kos aset itu, sehingga aset itu sedia untuk digunakan atau dijual.
Semua kos peminjaman lain diiktiraf sebagai perbelanjaan dalam penyata pendapatan dalam tempoh ia ditanggung.
(v) Instrumen Ekuiti Saham biasa dikelaskan sebagai ekuiti. Dividen daripada saham biasa diiktiraf dalam ekuiti dalam tempoh di mana pembayarannya diluluskan. Satang Jaya Holdings Berhad (633265-K) 109
NotA-NOTA PENYATA KEWANGAN
30 September 2006
3. HARTANAH, loji dan peralatan Hartanah, loji dan peralatan terdiri daripada yang berikut: Berbangkit KUMPULAN dari perolehan Baki pada syarikat Baki pada KOS 01.07.2005 subsidiari Tambahan Pelupusan 30.09.2006 RM RM RM RM RM
Tanah industri pegangan pajakan 1,191,132 – – – 1,191,132 Kilang pegangan pajakan 598,426 – – – 598,426 Perabot dan kelengkapan 393,769 – 82,180 (16,711) 459,238 Peralatan pejabat 732,303 – 57,487 (34,593) 755,197 Perkakas dan peralatan 1,073,955 – 43,514 (452,757) 664,712 Kenderaan bermotor 2,189,192 – 1,959,307 (1,101,506) 3,046,993 Pengubahsuaian 928,848 – 296,925 (92,731) 1,133,042 Komputer 915,940 – 452,939 (5,628) 1,363,251 8,023,565 – 2,892,352 (1,703,926) 9,211,991
Berbangkit dari perolehan Baki pada syarikat Caj bagi Baki pada SUSUTNILAI TERKUMPUL 01.07.2005 subsidiari tempoh Pelupusan 30.09.2006 RM RM RM RM RM
Tanah industri pegangan pajakan 24,676 – 17,263 – 41,939 Kilang pegangan pajakan 14,451 – 7,326 – 21,777 Perabot dan kelengkapan 264,638 – 81,703 (63,445) 282,896 Peralatan pejabat 546,691 – 105,625 (128,394) 523,922 Perkakas dan peralatan 758,099 – 145,621 (519,327) 384,393 Kenderaan bermotor 1,656,476 – 544,107 (958,276) 1,242,307 Pengubahsuaian 442,640 – 284,927 (265,953) 461,614 Komputer 504,934 – 390,834 (53,028) 842,740 4,212,605 – 1,577,406 (1,988,423) 3,801,588
Berbangkit KUMPULAN dari petroleum Baki pada syarikat Baki pada KOS 01.07.2004 subsidiari Tambahan Pelupusan 30.06.2005 RM RM RM RM RM
Tanah industri pegangan pajakan – 1,191,132 – – 1,191,132 Kilang pegangan pajakan – 598,426 – – 598,426 Perabot dan kelengkapan – 375,305 19,594 (1,130) 393,769 Peralatan pejabat – 695,406 38,477 (1,580) 732,303 Perkakas dan peralatan – 1,002,064 71,891 – 1,073,955 Kenderaan bermotor – 2,368,844 63,541 (243,193) 2,189,192 Pengubahsuaian – 838,205 90,643 – 928,848 Komputer – 785,285 130,655 – 915,940 – 7,854,667 414,801 (245,903) 8,023,565 Satang Jaya Holdings Berhad (633265-K) 110
NotA-NOTA PENYATA KEWANGAN
30 September 2006
3. HARTANAH, loji dan peralatan (SAMB.) Berbangkit KUMPULAN dari perolehan Baki pada syarikat Caj bagi Baki pada SUSUTNILAI TERKUMPUL 01.07.2004 subsidiari tempoh Pelupusan 30.06.2005 RM RM RM RM RM
Tanah industri pegangan pajakan – 18,133 6,543 – 24,676 Kilang pegangan pajakan – 11,052 3,399 – 14,451 Perabot dan kelengkapan – 214,152 51,426 (940) 264,638 Peralatan pejabat – 469,092 79,069 (1,470) 546,691 Perkakas dan peralatan – 702,965 55,134 – 758,099 Kenderaan bermotor – 1,741,941 134,557 (220,022) 1,656,476 Pengubahsuaian – 368,149 74,491 – 442,640 Komputer – 399,095 105,839 – 504,934 – 3,924,579 510,458 (222,432) 4,212,605
NILAI BUKU BERSIH 30.09.2006 30.06.2005 RM RM
Tanah industri pegangan pajakan 1,149,193 1,166,456 Kilang pegangan pajakan 576,649 583,975 Perabot dan kelengkapan 176,342 129,131 Peralatan pejabat 231,275 185,612 Perkakas dan peralatan 280,319 315,856 Kenderaan bermotor 1,804,686 532,716 Pengubahsuaian 671,428 486,208 Komputer 520,511 411,006 5,410,403 3,810,960
Tanah industri dan kilang pegangan pajakan dicaj kepada bank bagi kemudahan kredit yang diberikan kepada syarikat subsidiari.
Tanah industri pegangan pajakan mempunyai baki tempoh pajakan selama 90 tahun yang tamat tempoh pada 11 Disember 2096 sementara kilang pegangan pajakan mempunyai baki tempoh pajakan selama 87 tahun yang tamat tempoh pada 8 Mei 2093.
Syarikat tidak mempunyai hartanah, loji dan peralatan setakat 30 Jun 2006.
Termasuk dalam hartanah, loji dan peralatan Kumpulan adalah kos aset tersusut nilai penuh berikut yang masih digunakan: Kumpulan 30.09.2006 30.06.2005 RM RM
Perabot dan Kelengkapan 154,836 57,261 Peralatan pejabat 338,003 333,272 Perkakas dan peralatan 132,772 355,578 Kenderaan bermotor 467,788 – Pengubahsuaian 106,941 123,772 Komputer 290,072 222,414 1,490,412 1,092,297 Satang Jaya Holdings Berhad (633265-K) 111
NotA-NOTA PENYATA KEWANGAN
30 September 2006
3. HARTANAH, loji dan peralatan (SAMB.) Termasuk dalam hartanah, loji dan peralatan di atas adalah aset yang diperoleh di bawah perjanjian sewa beli seperti berikut: Kumpulan 30.09.2006 30.06.2005 RM RM
KOS Kenderaan bermotor 1,834,609 98,072
NILAI BUKU BERSIH Kenderaan bermotor 1,406,580 21,313
4. PELABURAN dalam syarikat subsidiari Syarikat 30.09.2006 30.06.2005 RM RM
Saham tak sebut harga – kos 20,575,000 20,575,000
Butiran syarikat subsidiari yang semuanya diperbadankan di Malaysia adalah seperti berikut:
% Ekuiti Dipegang Nama Syarikat 30.09.2006 30.06.2005 Aktiviti Utama
Langsung Satang Jaya Sdn. Bhd. 100 100 Pemegangan pelaburan dan pengedaran dan pembekalan peralatan dan aksesori pertahanan dan penerbangan dan marin komersil, serta Perunding kepada Pembuat Peralatan Asal (OEM)
Tidak langsung melalui Satang Jaya Sdn. Bhd. Triopoint (M) Sdn. Bhd 100 100 Pembekalan peralatan dan aksesori pertahanan dan penerbangan MSJ Technical Support Sdn. Bhd. 100 100 Penyenggaraan, pembaikan dan baik pulih peralatan keselamatan elektronik penerbangan dan aksesori elektro-mekanikal
Satang Services Sdn. Bhd. 100 100 Penyenggaraan, pembaikan dan baik pulih peralatan keselamatan sokongan darat penerbangan dan aksesori berkaitan Satang Jaya Holdings Berhad (633265-K) 112
NotA-NOTA PENYATA KEWANGAN
30 September 2006
4. PELABURAN DALAM SYARIKAT SUBSIDIARI (SAMB.) % Ekuiti Dipegang Nama Syarikat 30.09.2006 30.06.2005 Aktiviti Utama Tidak langsung melalui Satang Jaya Sdn. Bhd. Satang Environmental Sdn. Bhd. 100 100 Pembekalan dan pengedaran produk alam sekitar, penyediaan latihan dan seminar berkenaan Sistem Pengurusan Alam Sekitar dan khidmat berkaitan yang lain Satang Cylinder Services Sdn. Bhd. 100 100 Penyenggaraan, pembaikan dan baik pulih silinder berkaitan penerbangan yang termasuk servis, pemeriksaan, kitar semula dan isian semula gas dan khidmat berkaitan yang lain SAR Services (M) Sdn. Bhd. 100 100 Penyenggaraan, pembaikan dan baik pulih peralatan keselamatan dan ikhtiar hidup Satang Hi-Tech Security Sdn. Bhd. 100 100 Penyediaan khidmat perundingan dan penyelesaian dan pelaksanaan sistem keselamatan dan pengawasan dan teknologi tinggi dan khidmat berkaitan yang lain Satang ICS-Global Sdn. Bhd.* 51 – Pembekalan dan termasuk servis produk pembersihan paip dan peralatan Port Marine Safety Services Sdn. Bhd. 69 69 Pembekalan dan penyenggaraan peralatan dan aksesori keselamatan dan ikhtiar hidup marin * Berdasarkan akaun pengurusan syarikat subsidiari yang belum diaudit bagi tempoh kewangan berakhir 30 September 2006 Kesan pemerolehan syarikat subsidiari (Satang Jaya Sdn. Bhd.) atas keputusan kewangan Kumpulan untuk tahun kewangan sebelumnya adalah seperti berikut: Kumpulan 30.09.2006 30.06.2005 RM RM
Hartanah, loji dan peralatan – 3,810,960 Muhibah pada penyatuan – 249,231 Pelaburan dalam syarikat bersekutu – 159,600 Pelaburan lain – 23,000 Perbelanjaan pra-kontrak – 183,401 Inventori – 348,686 Perdagangan belum terima – 42,476,878 Penghutang lain, bayaran terdahulu dan deposit – 3,016,065 Jumlah terhutang daripada syarikat bersekutu – 11,002 Deposit tetap dengan bank berlesen – 5,606 Cukai boleh peroleh kembali – 159,221 Tunai dan baki bank – 1,562,732 Perdagangan belum bayar – (1,864,017) Pemiutang lain, akruan dan deposit – (3,120,446) Jumlah terhutang kepada syarikat pemegangan – (11,775,742) Bil belum bayar – (5,277,671) Jumlah terhutang kepada pihak berkaitan – (6,000) Sewa beli belum bayar – (27,549) Peruntukan cukai – (4,502,081) Cukai tertunda – (19,000) Kepentingan minoriti – (51,317) – 25,362,559 Satang Jaya Holdings Berhad (633265-K) 113
Nota-nota penyata kewangan
30 September 2006
4. PELABURAN DALAM SYARIKAT SUBSIDIARI (SAMB.) Ringkasan kesan pemerolehan syarikat subsidiari (Satang Jaya Sdn. Bhd.) ke atas kedudukan kewangan Kumpulan bagi tahun sebelumnya adalah seperti berikut: Kumpulan 01.07.2005 01.07.2004 hingga hingga 30.09.2006 30.06.2005 RM RM Hasil – 67,950,443 Kos jualan – (37,254,814) Untung kasar – 30,695,629 Pendapatan lain – 212,348 Belanja pentadbiran – (17,386,422) Belanja kewangan – (729,610) Untung sebelum cukai – 12,791,945 Cukai – (3,681,626) Untung selepas cukai – 9,110,319 Kepentingan minoriti – (12,205) Tolak: Untung pra-pemerolehan – (4,522,879) Untung bersih bagi tahun – 4,575,235 Nilai saksama aset yang diperoleh dan liabiliti yang ditanggung daripada pemerolehan syarikat subsidiari (Satang Jaya Sdn. Bhd.) adalah seperti berikut: Kumpulan 30.09.2006 30.06.2005 RM RM Hartanah, loji dan peralatan – 3,930,088 Muhibah pada penyatuan – 264,808 Pelaburan dalam syarikat bersekutu – 159,600 Pelaburan lain – 23,000 Perbelanjaan pra-penyenaraian – 796,915 Perbelanjaan pra-kontrak – 258,634 Inventori – 335,818 Perdagangan belum terima – 20,392,091 Penghutang lain, bayaran terdahulu dan deposit – 7,471,647 Jumlah terhutang daripada syarikat bersekutu – 11,002 Deposit tetap dengan bank berlesen – 6,961,857 Cukai boleh peroleh kembali – 172,442 Tunai dan baki bank – 442,635 Perdagangan belum bayar – (621,851) Pemiutang lain, akruan dan deposit – (3,988,325) Bil belum bayar – (5,442,089) Sewa beli belum bayar – (265,832) Pinjaman berjangka – (205,964) Overdraf Bank – (3,121,839) Peruntukan cukai – (4,009,376) Cukai tertunda – (19,000) Kepentingan minoriti – (22,937) Aset bersih diperoleh – 23,523,324 Rizab pada penyatuan – (2,948,324) Kos pemerolehan – 20,575,000 Tolak: Terbitan modal saham biasa – (20,575,000) Tunai dan tunai setara diperoleh – 4,282,653 – 4,282,653 Satang Jaya Holdings Berhad (633265-K) 114
NOTA-NOTA PENYATA KEWANGAN
30 September 2006
5. PELABURAN DALAM SYARIKAT BERSEKUTU Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Saham tak sebut harga – pada kos 159,600 159,600 – –
Butiran syarikat bersekutu adalah seperti berikut: Nama : The Industrial and Scientific Co. Sdn. Bhd. % equiti dipegang : 38% (30.06.2005 – 38%) Negara diperbadankan : Malaysia Aktiviti utama : Mengimport dan mengedar semua produk industri, saintifik dan marin dan gas LPG dan juga menyenggarakan peralatan keselamatan dan ikhtiar hidup penerbangan
Tiada penyata kewangan disatukan disediakan bagi pelaburan dalam syarikat bersekutu kerana para Pengarah berpendapat bahawa ia tidak mempunyai kesan penting ke atas keputusan Kumpulan.
6. PELABURAN LAIN Pelaburan lain dinyatakan pada kos dan mewakili pelaburan dalam kelab dan tempat peranginan golf tempatan yang memberikan hak kepada pihak pengurusan dan kakitangan Syarikat untuk menggunakan kemudahan tersebut.
7. JUMLAH TERHUTANG DARIPADA SYARIKAT SUBSIDIARI Jumlah ini adalah tanpa faedah, tanpa cagaran dan tidak mempunyai syarat pembayaran balik yang tetap.
8. JUMLAH TERHUTANG DARIPADA SYARIKAT BERSEKUTU Jumlah ini adalah tanpa faedah, tanpa cagaran dan tidak mempunyai syarat pembayaran balik yang tetap.
9. MUHIBAH PADA PENYATUAN Kumpulan 30.09.2006 30.06.2005 RM RM
Muhibah pada penyatuan Pada permulaan tempoh/tahun 264,808 – Tambahan semasa tempoh/tahun – 264,808 Pada akhir tempoh/tahun 264,808 264,808
Pelunasan terkumpul Pada permulaan tempoh/tahun (15,577) – Pelunasan bagi tempoh/tahun (38,942) (15,577) Pelunasan terkumpul (54,519) (15,577)
Pada akhir tempoh/tahun 210,289 249,231 Satang Jaya Holdings Berhad (633265-K) 115
NotA-NOTA PENYATA KEWANGAN
30 September 2006
10. PERBELANJAAN PRA-KONTRAK Kumpulan 30.09.2006 30.06.2005 RM RM
Baki pada awal tempoh/tahun 183,401 – Diperoleh sepanjang tempoh/tahun semasa 687 258,634 Tolak: Digunakan sepanjang tempoh/tahun semasa (183,401) (75,233) Baki pada akhir tempoh/tahun 687 183,401
11. INVENTORI Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Pada kos:- Barang ganti dan barang boleh guna 249,744 438,848 – – Tolak: Peruntukan inventori yang bergerak perlahan (90,162) (90,162) – – 159,582 348,686 – –
12. JUMLAH BELUM TERIMA PERDAGANGAN Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Perdagangan belum terima 62,758,551 42,500,607 – – Tolak: Peruntukan hutang ragu (23,729) (23,729) – – 62,734,822 42,476,878 – –
Tempoh kredit lazim Kumpulan adalah dari julat 30 sehingga 90 hari (30.06.2005 – 30 sehingga 90 hari). Tempoh kredit yang berlainan dinilai dan diluluskan mengikut kes.
13. DEPOSIT DENGAN BANK BERLESEN Kadar faedah efektif untuk deposits dengan bank berlesen pada akhir tempoh kewangan adalah 2.6% – 3% (30.06.2005 – 2.6% – 3%).
Termasuk dalam deposit dengan bank berlesen Kumpulan adalah deposit berjumlah RM1,500,000 yang dicagarkan dengan institusi kewangan berlesen untuk kemudahan bank yang diberikan kepada sebuah subsidiari Syarikat dan RM2,163 dicagarkan kepada bank berlesen sebagai satu jaminan untuk satu kontrak.
14. JUMLAH BELUM BAYAR PERDAGANGAN Tempoh credit perdagangan yang lazim yang diberikan kepada Kumpulan adalah dalam julat 30 sehingga 90 hari (30.06.2005 – 30 sehingga 90 hari). Satang Jaya Holdings Berhad (633265-K) 116
NotA-NOTA PENYATA KEWANGAN
30 September 2006
15. SEWA beli belum bayar Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Bayaran sewa beli minumum masa depan adalah seperti berikut: Perlu dibayar dalam tempoh 1 tahun 253,988 21,228 – – Perlu dibayar antara 2 tahun dan 5 tahun 960,979 8,560 – – Perlu dibayar selepas 5 tahun 170,785 – – – 1,385,752 29,788 – – Tolak: Faedah belum luput (176,966) (2,239) – – 1,208,786 27,549 – –
Kena dibayar dalam tempoh 12 bulan 199,202 19,323 – – Kena dibayar antara 2 tahun dan 5 tahun 813,698 8,226 – – Kena dibayar selepas 5 tahun 195,886 – – – 1,208,786 27,549 – –
Sewa beli dan pajakan kewangan belum bayar Kumpulan dikenakan faedah di antara 4.60% dan 10.34% (30.06.2005 – 10.34%) setahun.
16. BIL BELUM BAYAR DAN OVERDRAF BANK Bil belum bayar dikenakan faedah pada kadar komersil semasa manakala overdraf bank dikenakan faedah pada kadar di antara 7.5% hingga 8.5% (30.06.2005 – Tiada) atas kadar pemberian pinjaman asas Bank. Kemudahan-kemudahan Bank ini dijamin melalui: (a) Satu gadaian ke atas hartanah Kumpulan; (b) Debentur pertama yang merangkumi gadaian tetap dan terapung ke atas semua aset Syarikat yang sedia ada kini dan yang akan dimiliki; (c) Jaminan Korporat Syarikat; dan (d) Jaminan seseorang dan semua oleh Pengarah Syarikat.
17. JUMLAH TERHUTANG KEPADA PIHAK BERKAITAN Jumlah ini adalah tanpa faedah, tanpa cagaran dan tidak mempunyai syarat pembayaran balik yang tetap.
18. MODAL SAHAM Kumpulan & Syarikat 30.09.2006 30.06.2005 RM RM
Dibenarkan: 200,000,000 saham biasa pada RM0.50 setiap satu 100,000,000 100,000,000
Diterbitkan dan dibayar penuh: Saham biasa pada RM0.50 setiap satu Pada permulaan tempoh/tahun 40,000,000 2,000 Pengumpukan sepanjang tempoh/tahun – 20,575,000 Pengumpukan sepanjang tempoh/tahun – 14,423,000 Pengumpukan sepanjang tempoh/tahun – 5,000,000 Pada akhir tempoh/tahun 40,000,000 40,000,000 Satang Jaya Holdings Berhad (633265-K) 117
NoTA-NOTA PENYATA KEWANGAN
30 September 2006
19. RIZAB Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Tak boleh agih Akaun premium saham (Nota A) 3,076,196 3,139,941 3,076,196 3,139,941 Rizab pada penyatuan 2,948,324 2,948,324 – –
Boleh agih Untung belum diasingkan 16,043,771 4,487,864 4,921,530 2,672,629 Jumlah rizab 22,068,291 10,576,129 7,997,726 5,812,570
Nota A – Akaun premium saham Kumpulan & Syarikat 30.09.2006 30.06.2005 RM RM
Pada awal tempoh/tahun 3,139,941 – Terbitan awam – 5,000,000 Perbelanjaan penyenaraian kewangan dihapus kira – (1,860,059) Perbelanjaan penyenaraian saham ditanggung (63,745) – Pada akhir tempoh/tahun 3,076,196 3,139,941
20. LIABILITI CUKAI TERTUNDA Kumpulan 30.09.2006 30.06.2005 RM RM
Pada permulaan tempoh/tahun 19,000 – Pemerolehan subsidiari – 82,000 Diiktiraf dalam penyata pendapatan (Nota 24) 37,600 (63,000) Pada akhir tempoh/tahun 56,600 19,000
Cukai tertunda adalah berhubung dengan perbezaan pemasaan yang berbangkit daripada elaun modal yang dituntut lebih dahulu daripada susut nilai. Satang Jaya Holdings Berhad (633265-K) 118
NotA-NOTA PENYATA KEWANGAN
30 September 2006
21. HASIL Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Jualan barangan dan pelaksanaan perkhidmatan 85,855,733 67,950,443 – – Dividen kasar daripada syarikat subsidiari – – 6,000,000 3,800,000 85,855,733 67,950,443 6,000,000 3,800,000
Hasil mewakili nilai invois kasar selepas ditolak diskaun perdagangan dan pulangan dan komisen yang diterima dan belum terima.
22. UNTUNG SEBELUM ZAKAT DAN CUKAI Ini telah ditentukan selepas mengecaj butiran berikut: Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Peruntukan hutang ragu – 23,729 – – Peruntukan inventori bergerak perlahan – 10,087 – – Pelunasan muhibah pada penyatuan 38,942 31,154 – – Yuran audit – tempoh/tahun semasa 70,000 75,000 15,000 11,000 – terlebih peruntukan dalam tahun terdahulu (2,500) (15,170) – – Hutang lapuk dihapuskira 23,020 – – – Faedah dan caj penerimaan jurubank 301,341 157,724 – – Susut nilai 1,577,406 510,458 – – Yuran pengarah 39,862 – – – Imbuhan pengarah 3,456,639 2,548,300 216,726 72,000 Faedah sewa beli 60,333 125,125 – – Caj L/C dan resit amanah 253,703 163,978 – – Rugi daripada pertukaran asing 34,419 17,538 – – Yuran pengurusan – tempoh/tahun semasa 36,250 265,250 – – – terlebih peruntukan dalam tahun terdahulu – (80,000) – – Faedah overdraf 359,999 200,064 – – Hartanah, loji dan peralatan dihapuskira 132,377 – – – Sewa peralatan 59,684 30,258 – – Sewa kenderaan bermotor 41,260 28,614 – – Sewa premis 696,840 383,156 – – Faedah pinjaman berjangka – 70,848 – – Satang Jaya Holdings Berhad (633265-K) 119
NotA-NOTA PENYATA KEWANGAN
30 September 2006
22. UNTUNG SEBELUM ZAKAT DAN CUKAI (SAMB.) Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
dan mengkredit:- Kos emolumen – – 131,824 – Laba daripada pelupusan hartanah, loji dan peralatan 164,547 72,416 – – Laba daripada pertukaran asing – 1,160 – – Faedah diterima 528,660 34,875 171,996 14,102 Yuran pengurusan diterima 12,000 – 300,000 – Komisen jualan diterima 462,354 – – –
23. ZAKAT Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Peruntukan untuk zakat berdasarkan keputusan pada tempoh: – Semasa 255,104 – – –
24. CUKAI Peruntukan cukai bagi tempoh kewangan dikira pada kadar cukai semasa. Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Peruntukan bagi tempoh/tahun semasa 6,026,234 3,831,000 1,665,300 1,040,000 Terkurang/(Terlebih) peruntukan dalam tahun terdahulu 791,519 (86,374) 19,296 – Cukai tertunda (Nota 20) 37,600 (63,000) – – 6,855,353 3,681,626 1,684,596 1,040,000
Cukai pendapatan dikira pada kadar cukai berkanun Malaysia sebanyak 28% (30.06.2005 – 28%) daripada anggaran untung boleh taksir bagi tempoh/tahun kewangan. Cukai bagi bidang kuasa lain dikira pada kadar yang lazim dalam bidang kuasa masing-masing. Satang Jaya Holdings Berhad (633265-K) 120
NotA-NOTA PENYATA KEWANGAN
30 September 2006
24. CUKAI (samb.) Penyesuaian belanja cukai pendapatan bagi untung sebelum cukai pada kadar cukai pendapatan berkanun dengan perbelanjaan cukai pendapatan pada kadar cukai pendapatan efektif Kumpulan dan Syarikat adalah seperti berikut: 01.07.2005 01.07.2004 hingga hingga 30.09.2006 30.06.2005 RM RM
Kumpulan Untung sebelum cukai 20,443,498 12,706,414
Cukai pada kadar cukai berkanun Malaysia sebanyak 28% 5,724,179 3,557,796 Kesan kadar cukai berlainan ke atas industri kecil dan sederhana 13,205 (53,637) Perbelanjaan tidak boleh dipotong bagi tujuan cukai 1,320,333 164,026 Pendapatan tidak tertakluk kepada cukai (1,353,333) (25,899) Penggunaan rugi cukai dan elaun modal tak serap yang tak diiktiraf sebelum ini – (21,255) Aset cukai tertunda yang tidak diiktiraf bagi tempoh/tahun kajian 359,450 146,969 Terkurang/(Terlebih) peruntukan cukai pendapatan dalam tahun terdahulu 791,519 (86,374) Belanja cukai bagi tempoh/tahun 6,855,353 3,681,626
01.07.2005 01.07.2004 hingga hingga 30.09.2006 30.06.2005 RM RM
Syarikat Untung sebelum cukai 5,661,497 3,714,469
Cukai pada kadar cukai berkanun Malaysia sebanyak 28% 1,585,219 1,040,051 Belanja tidak boleh dipotong bagi tujuan cukai 80,081 – Terkurang peruntukan cukai pendapatan dalam tahun terdahulu 19,296 – Lain-lain – (51) Belanja cukai bagi tempoh/tahun 1,684,596 1,040,000
Syarikat mempunyai kredit cukai berjumlah RM2,057,300 (30.06.2005 – RM1,064,000) di bawah Seksyen 108, Akta Cukai Pendapatan, 1967 untuk menampung pembayaran dividen masa depan. Jumlah ini adalah tertakluk kepada persetujuan Lembaga Hasil Dalam Negeri. Satang Jaya Holdings Berhad (633265-K) 121
NotA-NOTA PENYATA KEWANGAN
30 September 2006
25. PEROLEHAN SESAHAM Kumpulan 30.09.2006 30.06.2005 RM RM
Perolehan Asas Sesaham Untung bagi tempoh/tahun (RM) 13,283,907 4,489,704
Bilangan saham biasa purata berwajaran yang diterbitkan bagi perolehan asas sesaham 80,000,000 35,394,011
Perolehan asas sesaham (sen) 16.60 12.68
26. PERISTIWA PENTING SEPANJANG TEMPOH KEWANGAN Sepanjang tempoh kewangan, peristiwa penting berikut telah berlaku untuk Syarikat dan syarikat subsidiarinya: (a) Kelulusan Kenaikan Nilai Bumbung Kontrak Daripada Kementerian Pertahanan, Malaysia sehingga RM190 Juta Pada 2 Ogos 2005, Syarikat mengumumkan bahawa sebuah syarikat subsidiari penuhnya iaitu Satang Jaya Sdn. Bhd. (“SJSB”), telah menerima sepucuk surat kelulusan daripada Kementerian Pertahanan Malaysia (“KEMENTAH “) yang bertarikh 27 Julai 2005, meluluskan kenaikan nilai bumbung untuk salah satu daripada kontrak bersama KEMENTAH hingga RM190 juta untuk jangka masa sehingga 30 September 2008. Kontrak tersebut yang diterima oleh SJSB adalah untuk menyenggarakan peralatan keselamatan dan ikhtiar hidup penerbangan, peralatan keselamatan sokongan darat penerbangan, sistem lepasan kecemasan anak kapal, peralatan keselamatan elektro-mekanikal penyenggaraan silinder gas mampat berkaitan penerbangan. Justeru itu, kenaikan tambahan untuk nilai bumbung bagi kontrak yang diberikan oleh KEMENTAH adalah RM102 juta.
(b) Memorandum Persefahaman (“MOUs”) (i) Pada 16 Mac 2006, Lembaga Pengarah mengumumkan bahawa satu Memorandum Persefahaman (“MOU”) telah ditandatangani oleh sebuah syarikat subsidiari penuh SJSB, Satang Environmental Sdn. Bhd. (“SESB”) dengan IIUM ENVIROTECH SDN BHD (“Envirotech”).
Tujuan MOU ini adalah untuk mengesahkan persefahaman di antara SESB dan Envirotech berhubung dengan kerja sama teknikal untuk melaksanakan latihan teknikal, penyelidikan dan pembangunan serta perkhidmatan teknikal dalam bidang penilaian persekitaran air dalam marin. SESB dan Envirotech akan bekerjasama untuk mengenal pasti peluang-peluang pemuafakatan yang terbina melalui kekuatan SESB dan Envirotech dalam bidang penilaian persekitaran air dalam marin terutamanya di Malaysia dan di rantau Asia Tenggara secara umum.
MOU akan bertindak sebagai dasar untuk SESB dan Envirotech untuk menandatangani perjanjian projek tertentu yang menyatakan secara terperinci hubungan kerjasama di antara SESB dan Envirotech.
(ii) Pada 27 April 2006, Lembaga Pengarah Syarikat mengumumkan bahawa Memorandum Persefahaman (“MOU”) di antara SJSB dan Denel (Pty) Ltd-Optronics Division (“DENEL”) telah ditandatangani pada 26 April 2006.
MOU tersebut merupakan satu persetujuan kerjasama untuk mewujudkan satu kemudahan penyengaraan dan baik pulih di SJSB bagi Sistem Pemerhatian dan Pengawasan Rapi LEO II, Pandangan Sasaran ARGOS 410 dan Sistem Pemerhatian GOSHAWK. Satang Jaya Holdings Berhad (633265-K) 122
NotA-NOTA PENYATA KEWANGAN
30 September 2006
26. PERISTIWA PENTING SEPANJANG TEMPOH KEWANGAN (SAMB.) (c) Kontrak Dengan Kementerian Pertahanan (KEMENTAH) Pada 14 Jun 2006, Lembaga Pengarah Syarikat mengumumkan bahawa KEMENTAH secara prinsipnya telah bersetuju untuk melanjutkan Perjanjian Kontraktorisasi dengan SJSB selama lima (5) tahun bermula daripada 30 September 2008 hingga 30 September 2013 selaras dengan penganugerahan Kontrak Jangka Panjang kepada SJSB.
Di bawah Perjanjian Kontraktorisasi, SJSB dilantik sebagai kontraktor eksklusif untuk perkhidmatan dan peralatan keselamatan dan ikhtiar hidup penerbangan, peralatan keselamatan sokongan darat penerbangan, sistem lepasan kecemasan anak kapal, peralatan keselamatan elektro-mekanikal penyenggaraan silinder gas mampat berkaitan penerbangan untuk Tentera Udara DiRaja Malaysia.
Nilai kontrak sebanyak RM190 juta sudah hampir digunakan dengan sepenuhnya dan Syarikat telah membuat satu permohonan untuk menaikkan lagi nilai bumbung kontrak bagi jangka masa sehingga 30 September 2008. Pada permohonan Syarikat yang lepas, SJSB telah diberi kenaikan sebanyak RM102 juta yang membawa jumlah nilai bumbung kontrak kepada RM190 juta. Syarikat telah membuat satu permohonan untuk kenaikan nilai bumbung kontrak sehingga 30 September 2008 sebanyak lebih daripada 50% daripada kenaikan yang diterima oleh SJSB sebelum ini. Syarikat yakin bahawa permohonan yang dibuat kepada KEMENTAH untuk menaikkan nilai bumbung kontrak akan berjaya.
Syarikat juga terus berunding dengan KEMENTAH secara aktif untuk mengguna pakai Perjanjian Kontraktorisasi yang sama untuk perkhidmatan dan peralatan keselamatan dan ikhtiar hidup untuk Tentera Laut DiRaja Malaysia dan juga Tentera Darat DiRaja Malaysia.
Melalui pelanjutan Perjanjian Kontraktorisasi, Syarikat berkeyakinan bahawa ia akan memberi sumbangan yang positif kepada perolehan Kumpulan bagi tempoh/tahun kewangan berakhir 30 September 2006 sehingga 2013.
(d) Penubuhan Syarikat Sub-Subsidiari Baru Pada 21 Julai 2006, Syarikat telah menubuhkan sebuah syarikat sub-subsidiari baru yang dikenali sebagai, Satang-ICS Global Sdn. Bhd. (“SGSB”) untuk mengendalikan keperluan perkembangan perniagaan masa depan Kumpulan. Aktiviti utama SGSB adalah memberi perkhidmatan pembersihan paip.
(e) Perjanjian Usaha sama Pada 7 September 2006, Lembaga Pengarah Syarikat mengumumkan bahawa SJSB telah, pada tarikh yang sama, menandatangani satu perjanjian pegangan saham dengan ICS Global Holdings Sdn Bhd (“ICS Global”), untuk membolehkan ICS Global memperoleh 49,000 saham biasa bernilai RM1.00 setiap satu (“Saham”) daripada SJSB, bersamaan 49% kepentingan ekuiti di Satang-ICS Global Sdn Bhd (“Satang-ICS”) untuk bayaran sebanyak RM49,000 (“Perjanjian Pegangan Saham”). Justeru itu, Satang-ICS menjadi rakan konsi usaha sama di antara SJSB dan ICS Global.
Tambahan pula, pada tarikh yang sama, Satang-ICS menandatangani satu kontrak pengedaran tunggal utama dengan ICS Global, di mana Satang-ICS akan menjadi pengedar perseorangan untuk ICS Global’s hos, paip dan produk pembersihan tiub, peralatan udara pneumatic serta larutan kimia untuk hos, paip dan industri pembersihan tiuh dan membekalkan penyenggaraan, baik pulih, perkhidmatan dan pembersihan paip dan tiub di rantau Malaysia, ASIA, Asia-Pacifik dan Timur-Tengah untuk tiga (3) tahun.
Kontrak tersebut akan berkuatkuasa sejurus selepas penyelesaian Perjanjian Pegangan Saham, yang dijangkakan dalam tempoh satu (1) bulan. Satang Jaya Holdings Berhad (633265-K) 123
NotA-NOTA PENYATA KEWANGAN
30 September 2006
27. TUNAI DAN TUNAI SETARA Tunai dan tunai setara yang dimasukkan ke dalam penyata aliran tunai terdiri daripada jumlah kunci kira-kira berikut: Kumpulan Syarikat 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Deposit dengan bank berlesen 9,587,721 10,672,486 8,084,684 10,666,880 Tunai dan baki bank 2,002,878 4,350,915 103,031 2,788,183 Overdraf Bank (9,628,240) – – – 1,962,359 15,023,401 8,187,715 13,455,063 Deposit dengan bank berlesen (diberi sebagai cagaran untuk kemudahan perdagangan dan kontrak) (1,502,163) – – – Tunai dan tunai setara 460,196 15,023,401 8,187,715 13,455,063
28. DIVIDEN Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Akhir Dividen yang diisytiharkan ke atas 80,000,000 saham biasa untuk tahun kewangan berakhir 30 Jun 2005 dan dibayar pada 23 Januari 2006 seperti berikut: – 6.0% ditolak 28% cukai 1,728,000 – 1,728,000 –
29. MAKLUMAT PEKERJA Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Imbuhan dan gaji 15,818,165 9,407,964 653,525 72,000 Sumbangan K.W.S.P. dan SOCSO 1,862,327 1,121,512 56,447 – Perbelanjaan kakitangan lain yang berkaitan 999,223 633,514 2,652 – 18,679,715 11,162,990 712,624 72,000
Bilangan purata pekerja 343 247 8 8
Pendapatan dan gaji termasuklah imbuhan dan yuran para Pengarah. Satang Jaya Holdings Berhad (633265-K) 124
NotA-NOTA PENYATA KEWANGAN
30 September 2006
30. URUS NIAGA PIHAK BERKAITAN Kumpulan menjalankan urus niaga dengan pihak berkaitan dalam urusan perniagaan biasa mengikut syarat dan harga yang dipersetujui. Urus niaga penting antara Kumpulan dan pihak berkaitan ini adalah seperti berikut: Kumpulan Syarikat 01.07.2005 01.07.2004 01.07.2005 01.07.2004 hingga hingga hingga hingga 30.09.2006 30.06.2005 30.09.2006 30.06.2005 RM RM RM RM
Jualan kepada pihak berkaitan 128,295 12,487 – –
Belian daripada pihak berkaitan – 22,596 – –
Yuran pengurusan dicaj oleh pihak berkaitan 35,000 23,250 – –
Yuran pengurusan dicaj kepada pihak berkaitan 12,000 – – –
Belian tiket penerbangan daripada pihak berkaitan 496,536 191,151 – –
Yuran pengurusan dicaj kepada syarikat subsidiari – – 300,000 –
Dividen diterima daripada syarikat subsidiari – – 6,000,000 3,800,000
31. LAPORAN SEGMEN Kumpulan terlibat terutamanya dalam penyenggaraan, pembaikan dan baik pulih peralatan dan operasi penerbangan dan keselamatan, terutamanya di Malaysia. Segmen lain tidak penting dan justeru itu, maklumat kewangan mengikut segmen geografi dan industri operasi Kumpulan tidak dibentangkan.
32. INSTRUMEN KEWANGAN Dasar Pengurusan Risiko Kewangan Kumpulan terdedah kepada pelbagai risiko dalam urusan perniagaan biasa. Pengurusan risiko Kumpulan cuba untuk meminimumkan potensi kesan buruk daripada pendedahan tersebut. Pihak pengurusan mengkaji semula dan menentukan dasar bagi menguruskan setiap risiko ini seperti berikut: (a) Risiko mata wang asing Kumpulan menjalankan urus niaga perdagangan dengan jumlah belum terima perdagangan dan jumlah belum bayar perdagangan apabila jumlah belum jelas adalah terdedah kepada risiko pertukaran mata wang.
Bagi meminimumkan risiko pertukaran asing, pihak pengurusan memantau dengan teliti liabiliti mata wang asingnya bagi memastikan bahawa ia betul-betul sepadan dengan aset mata wang asing.
(b) Risiko kadar faedah Kumpulan terdedah kepada risiko faedah melalui kesan perubahan kadar atas aset dan liabiliti berfaedah.
Kumpulan memantau dengan teliti kadar faedah atas pinjaman bagi memastikan bahawa pinjaman itu disenggarakan pada kadar yang memuaskan. Satang Jaya Holdings Berhad (633265-K) 125
NotA-NOTA PENYATA KEWANGAN
30 September 2006
32. INSTRUMEN KEWANGAN (samb.) (c) Risiko kredit Kumpulan terdedah kepada risiko kredit terutamanya daripada perdagangan belum terima dan penghutang lain. Kumpulan memberikan kredit kepada pelanggannya berdasarkan penilaian keadaan kewangan dan sejarah kredit pelanggan tersebut.
Pendedahan Kumpulan kepada risiko kredit berhubung dengan perdagangan belum bayar dan pemiutang lain, sekiranya semua pelanggannya gagal menunaikan obligasi mereka pada akhir tahun, adalah jumlah dibawa bagi jumlah belum terima itu seperti yang dinyatakan dalam kunci kira-kira.
Kumpulan meletakkan deposit tetapnya dengan institusi yang mempunyai kepercayaan kredit. Jumlah dibawa bagi aset kewangan dalam penyata kewangan, selepas ditolak sebarang peruntukan kerugian, mewakili pendedahan maksimum Kumpulan kepada risiko kredit tanpa mengambil kira nilai sebarang sandaran atau cagaran lain yang diperoleh.
(d) Risiko aliran tunai Kumpulan mengkaji semula kedudukan aliran tunainya secara tetap bagi menguruskan pendedahannya kepada turun naik dalam aliran tunai masa depan yang berkaitan dengan instrumen kewangan monetarinya.
Nilai Saksama Jumlah dibawa bagi aset dan liabiliti kewangan seperti yang dicerminkan dalam kunci kira-kira adalah hampir sama dengan nilai saksama bersih masing-masing.
(i) Aset kewangan Aset kewangan utama Kumpulan adalah pelaburan dalam syarikat subsidiari, aset tak ketara, perdagangan belum terima dan penghutang lain, tunai dan baki bank dan jumlah yang terhutang oleh syarikat subsidiari.
Dasar perakaunan yang terpakai bagi aset kewangan utama dinyatakan dalam Nota 2.
(ii) Liabiliti kewangan Hutang dikelaskan sebagai liabiliti mengikut perjanjian berkontrak.
Liabiliti kewangan penting termasuklah perdagangan belum terima dan pemiutang lain serta belanja terakru.
33. PERISTIWA SELEPAS KUNCI KIRA-KIRA Selepas tempoh kewangan, peristiwa berikut telah berlaku bagi Syarikat dan syarikat-syarikat subsidiarinya: (i) Pada 2 Oktober 2006, keseluruhan modal saham berbayar sebuah syarikat subsidiari Port Marine Safety Services Sdn. Bhd. (“PMSS”), telah dipindahkan kepada para Pengarah. Oleh yang demikian, Satang Jaya Sdn. Bhd. (“SJSB”) berhenti menjadi syarikat muktamad PMSS.
(ii) Pada 22 Disember 2006, anak syarikat milik penuh syarikat, Satang Jaya Sdn Bhd (“SJSB”), telah menandatangni satu perjanjian Jual beli untuk menjual sekeping tanah pegangan pajak yang dikenali sebagai Lot PT 40227, Jalan Utarid U5/12, Seksyen U5, 40150 Shah Alam, Selangor Darul Ehsan dibawah pegangan PN8415, Lot No. 40227, Mukim Sungai buloh, Daerah Petaling dan Selangor Darul Ehsan kepada Bukit Ramai Holding Sdn Bhd untuk bayaran sebanyak RM1,700,728 termasuk lain-lain terma dan syarat yang terkandung di dalamnya.
(iii) Pada 29 Disember 2006, Syarikat telah menandatangani satu Perjanjian Jual Beli dengan The New Straits Times Press (M) Bhd (“NSTP”) di mana NSTP bersetuju untuk menjual manakala SJHB bersetuju untuk memperoleh sekeping tanah pegangan bebas atas Geran 58802, No. Lot 64216, di Mukim Damansara, Daerah Petaling, Negeri Selangor yang mempunyai anggaran keluasan sebanyak 5.0 ekar (atau lebih kurang 217,800 meter persegi) (“Tanah) yang beralamat di Lot No. 64216, Jalan U8/8, Seksyen 8, Bukit Jelutong, Shah Alam, Selangor Darul Ehsan, untuk bayaran tunai sebanyak RM12,196,800 termasuk lain-lain terma dan syarat yang terkandung di dalamnya.
34. TEMPOH kewangan Tempoh kewangan Kumpulan dan Syarikat telah ditukar daripada 30 Jun kepada 30 September setiap tahun. Berikutannya, angka- angka perbandingan bagi tahun kewangan sebelumnya meliputi tempoh 12 bulan manakala untuk tempoh kewangan semasa, penyata kewangan meliputi 15 bulan, bermula 1 Julai 2005 sehingga 30 September 2006. Satang Jaya Holdings Berhad (633265-K) 126
List of Properties Senarai Hartanah
Leasehold Land and Buildings / Tenure / Area / Tanah dan Bangunan Pegangan Pajakan Tempoh Luas
1 Klang, Selangor No.29 & 31, Jalan Tiara 5 (86 years to 8th May 2093) / 223 sq. ft. / Bandar Baru Klang (99 tahun hingga 8hb Mei 2093) 223 meter persegi 41150 Klang Selangor Darul Ehsan Office Building /Bangunan Pejabat
2 Shah Alam, Selangor Lot No. 40227, Jalan Utarid U5/12 (99 years to 11th Dec 2096) / 4158 sq. ft. / Section U5, Bandar Pinggiran Subang (99 tahun hingga 11hb Dis 2096) 4158 meter persegi 40150 Shah Alam Selangor Darul Ehsan Land for Factory / Tanah untuk Kilang Satang Jaya Holdings Berhad (633265-K) 127
Analysis of Shareholdings as at 2 February 2007
Analisa Pegangan Saham pada 2 Februari 2007
Share capital / Modal saham Authorised Share Capital / Modal Saham Dibenarkan – RM100,000,000/- Issued and paid-up Capital / Modal berbayar dan diterbitkan – RM40,000,000/- Class of Shares / Kelas Saham – Ordinary shares of RM0.50 each / Saham biasa RM0.50 sesaham Voting Rights / Hak Mengundi – 1 vote per share / 1 undi sesaham
Distribution of shareholdings / Agihan Pegangan Saham Size of Holding / No. of Shareholders / No. of Shares Held / Saiz Pegangan Saham Bil. Pemegang Saham Bil. Pegangan Saham %
Less than / Kurang daripada 100 2 100 0.00 100 - 1,000 587 327,900 0.40 1,001 - 10,000 951 4,759,400 5.95 10,000 - 100,000 366 14,279,600 17.85 100,001 and below / dan kurang daripada 5% 67 29,652,600 37.07 5% and above / ke atas 3 30,980,400 38.73 Total / Jumlah 1976 80,000,000 100
Substantial shareholders as at 2 February 2007 / Pemegang-pemegang saham utama pada 2 februari 2007 Direct Interest / Indirect Interest / Kepentingan Langsung Kepentingan Tidak Langsung No. name / Nama No. of Shares / N no. of Shares / Bil. Saham % Bil. Saham %
1. Jamaluddin bin Hassan 16,145,400 20.18 – – 2. Deutsche Bank AG London (Pb Priam) 7,649,600 9.56 – – 3. Abdul Aziz bin Jamal 7,545,400 9.43 – –
Directors’ Shareholdings as at 2 February 2007 / Saham yang dipegang oleh pengarah pada 2 februari 2007 Direct Interest / Indirect Interest / Kepentingan Langsung Kepentingan Tidak Langsung No. name / Nama No. of Shares / N no. of Shares / Bil. Saham % Bil. Saham %
1. Jamaluddin bin Hassan 16,145,400 20.18 _ _ 2. Gan Chin Sam 6,440,500 8.05 – – 3. Hakim bin Sukiman 2,279,800 2.85 – – 4. Khir Anuar bin Mohamad 130,000 0.16 – – 5. Mohd Isa bin Mohd Samat 70,000 0.09 – – 6. Mohd Jahari bin Mohd Rais 50,000 0.06 – – Satang Jaya Holdings Berhad (633265-K) 128
Analysis of shareholdings analisa pegangan saham
List of Thirty (30) Largest securities account holders as at 2 February 2007 / Senarai tiga puluh (30) pemegang saham terbesar pada 2 februari 2007 No. name of shareholders Shares held Bil. nama pemegang-pemegang saham Pegangan saham % 1. Jamaluddin bin Hassan 15,965,400 19.96 2. DB (malaysia) nominee (asing) sdn bhd 7,649,600 9.56 Beneficiary: Exempt an for Deutsche Bank AG London (PB Priam) 3. ABDUL aziz bin jamal 7,365,400 9.21 4. GAN chin sam 2,965,400 3.71 5. HAKIM bin sukirman 2,099,800 2.62 6. EB nominees (tempatan) sendirian berhad 2,000,000 2.50 Beneficiary: Pledged Securities Account for Gan Chin Sam (sfc) 7. BHLB trustee berhad 1,733,300 2.17 Beneficiary: Exempta n 8. RHB nominees (tempatan) sdn bhd 1,514,100 1.89 Beneficiary: pledged Securities Account for Ngeu Yet Fatt 9. AMBANK (m) berhad 1,295,100 1.62 Beneficiary: Pledged Securities Account for Gan Chin Sam (smart) 10. MAyban securities nominees (tempatan) sdn bhd 1,158,700 1.45 Beneficiary: Pledged Securities Account for Meor Ya’accob bin Meor Ahmad Ariffin (dlr 01c-margin) 11. MAyban securities nominees (tempatan) sdn bhd 1,083,800 1.35 Beneficiary: Pledged Securities Account for Mohd Zain bin Adam (dlr 01c-margin) 12. A.a. anthony nominees (tempatan) sdn bhd 1,000,000 1.25 Beneficiary: Pledged Securities Account for Angkasa Aman Sdn Bhd 13. RHB nominees (tempatan) sdn bhd 953,000 1.19 Beneficiary: Pledged Securities Account for Teh Chean Ben 14. LAU ENG GUANG 874,500 1.09 15. HLG NOMINEE (TEMPATAN) SDN BHD 700,000 0.88 Beneficiary: Pledged Securities Account for Quek Kon Sean ccts( ) 16. ALLIANCEGROUP NOMINEES (TEMPATAN) SDN BHD 600,000 0.75 Beneficiary: Pheim Asset Management Sdn Bhd for Employees Provident Fund 17. DB (MALAYSIA) NOMINEE (ASING) SDN BHD 540,800 0.68 Beneficiary: Deutsche Bankag London 18. PM NOMINEES (TEMPATAN) SDN BHD 516,200 0.65 Beneficiary: Pledged Securities Account for Lau Lai Peng (D) 19. ANG GAIK NGA 500,000 0.63 20. NG SOO TIAN 500,000 0.63 21. WONG HENG KIT 500,000 0.63 22. AMSEC NOMINEES (TEMPATAN) SDN BHD 457,400 0.57 Beneficiary: Pledged Securities Account for Ng Hwah 23. CHAN KOK 430,700 0.54 24. HWANG AI MOR 411,200 0.51 25. LAU LAI PENG 315,000 0.39 26. TAN BOON POCK 250,000 0.31 27. GOH SOCK SIN 249,000 0.31 28. GAN SOO LIAN 235,800 0.29 29. CHAI SHOU HUI 234,000 0.29 30. CHEW SING PIN 233,100 0.29 Total / Jumlah 54,331,300 67.91 Satang Jaya Holdings BERHAD (633265-K) (Incorporated in Malaysia) Proxy Form
No. of shares held
* I/We (BLOCK LETTERS) of being a * Member/Members of SATANG JAYA HOLDINGS BERHAD, do hereby appoint of or failing * him/her of or failing * him/her, the CHAIRMAN of the Meeting, as *my/our proxy to vote for *me/us on *my/our behalf at the Third Annual General Meeting of the Company to be held at the Banquet Hall, Kuala Lumpur Golf & Country Club (KLGCC), No.10, Jalan 1/70D, Off Jalan Bukit Kiara, 60000 Kuala Lumpur on Friday, 23 March 2007 at 3.30 p.m. and at any adjournment thereof, and to vote as indicated below:
Resolutions For Against 1. To receive and adopt the Audited Financial Statements for the fifteen-month period ended 30 September 2006 and the Directors’ and Auditors’ Reports thereon. 2. To declare a First and Final Dividend of 6% (less 28% income tax) in respect of the financial year ended 30 September 2006. 3. To approve payment of Directors’ Fees amounting to RM216,726.00 for the financial year ended 30 September 2006. 4. To re-elect En. Khir Anuar bin Mohamad who shall retire pursuant to Article 86 of the Company’s Articles of Association. 5. To re-elect Lt. Col. (R) Mohd Johari bin Mohd Rais who shall retire pursuant to Article 86 of the Company’s Articles of Association. 6. To re-elect Dato’ Khairuddin Bin Mohd Sari who shall retire pursuant to Article 93 of the Company’s Articles of Association. 7. To re-appoint Messrs. Leou & Associates as Auditors of the Company for the ensuing year and to authorise the Directors to fix their remuneration.
AS SPECIAL BUSINESS 8. To approve the Ordinary Resolution pursuant to Section 132D of the Companies Act, 1965. 9. To approve the Proposed Change of Name. * Strike out whichever not applicable Please indicate with an “X” in the appropriate space how you wish your votes to be cast. If you do not indicate how you wish your proxy to vote on any Resolution, the proxy will vote as he or she thinks fit, or, at his of her discretion, abstain from the voting.
As witness my/our hand this day of 2007 Signature of Member/Common Seal
Notes: 1. A member of the Company entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and vote in his/her stead. A proxy may but need not be a member of the Company and the provisions of Section 149(1)(b) of the Companies Act, 1965 shall not apply to the Company.
2. Where a member appoints more than one (1) proxy, the appointment shall be invalid unless he/she specifies the proportions of his/her shareholdings to be represented by each proxy.
3. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his/her attorney duly authorised in writing, or if the appointor is a corporation, either under the corporation’s common seal or under the hand of an officer or attorney duly authorised.
4. The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority, must be deposited at the Registered Office of the Company at 149A, Jalan Aminuddin Baki, Taman Tun Dr. Ismail, 60000 Kuala Lumpur not less than forty-eight (48) hours before the time appointed for holding the Meeting or any adjourned meeting, as the case may be. Fold Here
STAMP
The Company Secretary
Satang Jaya Holdings Berhad (633265-K) 149A, Jalan Aminuddin Baki Taman Tun Dr. Ismail 60000 Kuala Lumpur
Fold Here Satang Jaya Holdings BERHAD (633265-K) (Diperbadankan di Malaysia) Borang Proksi
Bil. saham dipegang
* Saya/Kami (Huruf Besar) dari sebagai * Ahli/Ahli-ahli SATANG JAYA HOLDINGS BERHAD, dengan ini melantik dari atau jika * beliau gagal hadir dari atau jika *beliau gagal hadir, PENGERUSI Mesyuarat, sebagai *proksi saya/kami akan mengundi untuk *saya/kami bagi pihak *saya/kami di Mesyuarat Agung Tahunan Ketiga Syarikat yang akan diadakan di Dewan Bankuet, Kuala Lumpur Golf & Country Club (KLGCC), No.10, Jalan 1/70D, Off Jalan Bukit Kiara, 60000 Kuala Lumpur pada hari Jumaat, 23 Mac 2007 jam 3.30 petang dan pada sebarang penangguhannya, dan untuk mengundi seperti dinyatakan di bawah:
Resolusi Menyokong Menentang 1. Untuk menerima dan meluluskan Akaun Syarikat Yang Telah Diaudit bagi tahun kewangan berakhir 30 September 2006 Jun bersama dengan Laporan Pengarah dan Laporan Juruaudit mengenainya. 2. Untuk mengumumkan Dividen Pertama dan Akhir sebanyak 6% (ditolak 28% cukai pendapatan) bagi tahun kewangan berakhir 30 September 2006. 3. Untuk meluluskan Yuran Para Pengarah berjumlah RM216,726.00 bagi tahun kewangan berakhir 30 September 2006. 4. Untuk memilih semula En. Khir Anuar bin Mohamad yang akan bersara menurut Artikel 86 Tataurusan Pertubuhan Syarikat. 5. Untuk memilih semula Lt. Col. (B) Mohd Johari bin Mohd Rais yang akan bersara menurut Artikel 86 Tataurusan Pertubuhan Syarikat. 6. Untuk memilih semula Dato’ Khairuddin Bin Mohd Sari yang akan bersara menurut Artikel 93 Tataurusan Pertubuhan Syarikat. 7. Untuk melantik semula Tetuan Leou & Associates sebagai Juruaudit Syarikat bagi tahun berikutnya dan memberi kuasa kepada para Pengarah untuk menetapkan bayaran mereka.
Sebagai urusan khas 8. Untuk meluluskan Resolusi Biasa menurut Seksyen 132D Akta Syarikat, 1965. 9. Untuk meluluskan Cadangan Pertukaran Nama Syarikat. * Potong mana yang tidak berkenaan Sila tanda “X” di dalam ruang yang disediakan bagi menunjukkan bagaimana undi anda ingin dilakukan. Jika anda tidak menunjukkan bagaimana anda ingin proksi anda mengundi pada mana-mana Resolusi, proksi tersebut akan mengundi sebagaimana yang difikirkannya sesuai, atau tidak mangundi mengikut budi bicaranya.
Sebagi saksi tandatangan saya/kami pada haribulan 2007 Tandatangan Ahli/Meterai Biasa
Nota-nota: 1. Seseorang ahli Syarikat yang berhak menghadiri dan mengundi di mesyuarat ini berhak untuk melantik seorang atau lebih proksi-proksi untuk menghadiri dan mengundi bagi pihaknya. Seorang proksi boleh tetapi tidak semestinya ahli Syarikat dan peruntukan Seksyen 149(1)(b) Akta Syarikat, 1965 tidak boleh digunakan kepada Syarikat.
2. Apabila seseorang ahli melantik lebih daripada seorang (1) proksi, pelantikan tersebut tidak sah melainkan beliau menyatakan bahagian pegangan saham beliau yang hendak diwakili oleh setiap proksi.
3. Suratcara pelantikan seseorang proksi hendaklah dibuat secara bertulis dan ditandatangani oleh pelantik atau peguam beliau yang diberi kuasa secara bertulis, atau jika pelantik itu sebuah perbadanan, sama ada di bawah meterai rasmi perbadanan atau ditandatangani seorang pegawai atau peguam yang diberi kuasa secara bertulis.
4. Suratcara pelantikan seorang proksi dan kuasa wakil atau pihak berkuasa lain, jika ada, yang ditandatangani atau merupakan salinan yang disahkan bagi kuasa atau kebenaran tersebut, perlu dihantar ke Pejabat Berdaftar Syarikat di 149A, Jalan Amnuddin Baki, Taman Tun Dr. Ismail, 60000 Kuala Lumpur tidak kurang dari empat puluh lapan (48) jam sebelum waktu yang dijadualkan untuk mengadakan Mesyuarat atau pada sebarang penangguhan mesyuarat, jika ada. Lipat Sini
SETEM
Setiausaha Syarikat
Satang Jaya Holdings Berhad (633265-K) 149A, Jalan Aminuddin Baki Taman Tun Dr. Ismail 60000 Kuala Lumpur
Lipat Sini SATANG JAYA HOLDINGS BERHAD (633265-K) No. 29 & 31, Jalan Tiara 5, Bandar Baru Klang, 41150 Klang, Selangor Darul Ehsan, Malaysia. Tel : 603 3344 8822 Fax : 603 3344 8811 E-mail : [email protected] Website : www.satangjaya.com