2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
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Directors’ Report<br />
The directors have pleasure in presenting their report together with the audited financial statements of the Group and of<br />
the Company for the financial year ended 31 July <strong>2004</strong>.<br />
PRINCIPAL ACTIVITIES<br />
The principal activities of the Company are investment and property holdings and the provision of management services.<br />
The principal activities of the subsidiaries are disclosed in Note 4 to the financial statements.<br />
There were no significant changes in the nature of these principal activities during the financial year.<br />
RESULTS<br />
GROUP<br />
RM’000<br />
COMPANY<br />
RM’000<br />
Profit for the year 41,346 7,537<br />
There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the<br />
statements of changes in equity.<br />
In the opinion of the directors, the results of the operations of the Group and of the Company during the financial year<br />
were not substantially affected by any item, transaction or event of a material and unusual nature.<br />
DIVIDENDS<br />
Dividends paid by the Company since 31 July 2003 were as follows:<br />
RM’000<br />
Final dividend of 3% less 28% taxation in respect of the financial year<br />
ended 31 July 2003 as dealt with in the directors' report for that year 3,536<br />
Interim dividend of 2% less 28% taxation in respect of the<br />
current financial year 2,357<br />
At the forthcoming Annual General Meeting, a final 3% tax-exempt dividend in respect of the current financial year<br />
amounting to RM4,911,000 will be proposed for shareholders’ approval. The financial statements for the current<br />
financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted<br />
for in equity as an appropriation of retained profits in the financial year ending 31 July 2005.<br />
DIRECTORS<br />
The directors of the Company in office since the date of the last report and at the date of this report are:<br />
Tan Sri Dato' Alwi bin Jantan<br />
Kua Hock Lai<br />
Mohamed Nizam bin Abdul Razak<br />
Ong Eng Choon<br />
Yeoh Chong Keat<br />
Cheah Shu Boon<br />
Law Sook Teng (f)<br />
Tee Tuang Siong<br />
Kua Swee Leong (Appointed on 12 November 2003)<br />
Yoong Kah Yin (Appointed on 9 June <strong>2004</strong>)<br />
Toh Su Lin (f)<br />
(Alternate director to Cheah Shu Boon)<br />
Lu Kang Eing (Resigned on 12 November 2003)<br />
18 HIAP TECK VENTURE BERHAD