Utusan Melayu (Malaysia) Bhd - Announcements

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Chairman’s S TATEMENT Dear Shareholders, The Utusan Melayu Group of Companies can look back on 1999 with satisfaction and a sense of achievement. A two-prong strategy adopted earlier to reduce costs and a steady shift towards the increasing use of technology in our operations have paid off during the year. Against the backdrop of a reviving economy, this has helped in no small measure in bringing our financial performance back into positive territory. The Group is also fortunate to have emerged from the economic recession relatively unscathed. Even at the worst of times, we did not encounter any cash-flow problems affecting our operations, which continued at optimum levels. If anything, the economic downturn has demonstrated our resilience and indeed, we have come out of it a leaner, more efficient and intensely focused Group. Nor has it derailed our growth process. Some years ago we set our sights to be a leading multiple media communications company in the country. Today we are well on our way towards achieving this vision. The world-wide Internet revolution bears out the conviction that we are moving in the right direction. On behalf of the Board of Directors, I am pleased to present this Annual Report and Audited Accounts of the Utusan Melayu Group of Companies for the financial year ended 31 December 1999. FINANCIAL PERFORMANCE For 1999, Gross Domestic Product growth has been conservatively projected at 1% against a contraction of 6.7% in 1998. This has had a positive impact on the Group’s respective businesses, with almost all our subsidiaries returning to the black. At the same time, the turnaround in the Group’s financial performance was also achieved on the back of earlier investments in new machinery and technology which began to bear fruit only recently. During the year under review, the Group turnover was recorded at RM297.3 million, up 13.3% from RM262.3 million recorded for the previous corresponding period. From a loss of RM18.5 million incurred in 1998, the Group is back on to more familiar grounds, achieving a profit before tax of RM13.0 million. 18 Utusan Melayu (Malaysia) Berhad Left: Sri Utusan, the printing plant, is the heart and soul of perpetual activity, day and night. Right: Our warehouse has the capacity for storing massive supplies of newsprint, delivered for our printing operations.
THE STAFF ARE ON PAR LEVEL TO COMPETENTLY HANDLE THE TECHNOLOGICALLY SOPHISTICATED WOHLENBERG PERFECT BINDING LINE.
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Page 8 and 9: Corporate I NFORMATION BOARD OF DIR
Page 10 and 11: Senior M ANAGEMENT Tan Sri Kamarul
Page 13 and 14: Royal Code Of Conduct The Taj al-Sa
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Page 17: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 22 and 23: Chairman’s S TATEMENT Our Adverti
Page 24 and 25: Chairman’s S TATEMENT A new chapt
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Page 41 and 42: Consolidated C ASH F LOW S TATEMENT
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Page 69 and 70: List O F P ROPERTIES as at 31 Decem
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List O F P ROPERTIES as at 31 Decem
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I/We of being a member/members of U
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Azizi Meor Ngah 36, Jalan Jelutong
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Utusan Melayu (Malaysia) Bhd - Announcements

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