2004 - Hiap Teck Venture Berhad

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DIRECTORS' BENEFITS Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Company was a party, whereby the directors might acquire benefits by means of acquisition of shares in or debentures of the Company or any other body corporate. Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than benefits included in the aggregate amount of emoluments received or due and receivable by the directors as shown in Note 23 to the financial statements or the fixed salary of a full-time employee of the Company) by reason of a contract made by the Company or a related corporation with any 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 disclosed in Note 30 to the financial statements. DIRECTORS' INTERESTS According to the register of directors' shareholdings, the interests of directors in office at the end of the financial year in shares in the Company and its related corporations during the financial year were as follows: The Company Number of Ordinary Shares of RM0.50 Each As at As at 1 August 2003 Acquired Sold 31 July <strong>2004</strong> Direct interest: Tan Sri Dato' Alwi bin Jantan 26,788,464 80,000 (25,473,464) 1,395,000 Kua Hock Lai 13,904,566 80,004 - 13,984,570 Mohamed Nizam bin Abdul Razak 11,256,247 80,000 (1,810,000) 9,526,247 Ong Eng Choon - 80,000 (40,000) 40,000 Yeoh Chong Keat - 80,000 (18,000) 62,000 Cheah Shu Boon - 80,000 - 80,000 Law Sook Teng (f) 1,587,615 685,000 (768,000) 1,504,615 Tee Tuang Siong 2,674,609 80,000 (70,000) 2,684,609 Kua Swee Leong 545,757 80,000 - 625,757 Toh Su Lin (f) - 80,000 - 80,000 Indirect interest: Kua Hock Lai 135,017,485 82,000 - 135,099,485 By virtue of his shareholdings in the Company, Mr. Kua Hock Lai is deemed to be interested in shares in all the Company's subsidiaries. None of the other directors in office at the end of the financial year had any interest in shares in the Company or its subsidiaries during the financial year. HIAP TECK VENTURE BERHAD 19
ISSUE OF SHARES AND INITIAL PUBLIC OFFERING In conjunction with the listing of the Company's shares on the Main Board of Bursa Malaysia Securities <strong>Berhad</strong> (the "Exchange"), the Company increased its issued and paid-up ordinary share capital from RM118,100,000 to RM163,700,000 by way of the issuance of: (i) (ii) (iii) 10,000,000 ordinary shares of RM0.50 each through a public issue at an issue price of RM0.55 per ordinary share; 66,400,000 ordinary shares of RM0.50 each through a private placement at an issue price of RM0.55 per ordinary share; and 14,800,000 ordinary shares of RM0.50 each through a restricted issue at an issue price of RM0.55 per ordinary share. The share premium arising of RM4,560,000 has been credited to the share premium account. The new ordinary shares rank pari passu in all respects with the then existing ordinary shares of the Company. The entire issued and paid-up share capital of the Company comprising 327,400,000 ordinary shares of RM0.50 each were admitted to the Official List of the Exchange on 2 September 2003. The shares were granted quotation on the Main Board of the Exchange on the same date. OTHER STATUTORY INFORMATION (a) Before the balance sheets and income statements of the Group and of the Company were made out, the directors took reasonable steps: (i) (ii) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate provision had been made for doubtful debts; and to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had been written down to an amount which they might be expected so to realise. (b) At the date of this report, the directors are not aware of any circumstances which would render: (i) (ii) the amount written off for bad debts or the amount of the provision for doubtful debts in the financial statements of the Group and of the Company inadequate to any substantial extent; and the values attributed to current assets in the financial statements of the Group and of the Company misleading. (c) (d) (e) At the date of this report, the directors are not aware of any circumstances which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or financial statements of the Group and of the Company which would render any amount stated in the financial statements misleading. As at the date of this report, there does not exist: (i) (ii) any charge on the assets of the Group or of the Company which has arisen since the end of the financial year which secures the liabilities of any other person; or any contingent liability of the Group or of the Company which has arisen since the end of the financial year. 20 HIAP TECK VENTURE BERHAD
Page 1 and 2: 2004 annual report C R E A T I N G
Page 3 and 4: CORPORATE STRUCTURE 100% 100% 100%
Page 5 and 6: PROFILE OF THE BOARD OF DIRECTORS T
Page 7 and 8: CHAIRMAN’S STATEMENT On behalf of
Page 9 and 10: FINANCIAL HIGHLIGHTS Revenue (RM’
Page 11 and 12: The Company’s Articles of Associa
Page 13 and 14: STATEMENT ON INTERNAL CONTROL The B
Page 15 and 16: AUDIT COMMITTEE REPORT The Audit Co
Page 17 and 18: 6. Audit Committee Report The Commi
Page 19: Directors’ Report The directors h
Page 23 and 24: Statement by Directors Pursuant to
Page 25 and 26: Balance Sheets as at 31 July 2004 N
Page 27 and 28: Consolidated Statement of Changes i
Page 29 and 30: Cash Flow Statements for the year e
Page 31 and 32: Notes to the Financial Statements 3
Page 33 and 34: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 35 and 36: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 37 and 38: 3. PROPERTY, PLANT AND EQUIPMENT (C
Page 39 and 40: 5. OTHER INVESTMENTS GROUP COMPANY
Page 41 and 42: 11. CASH AND CASH EQUIVALENTS GROUP
Page 43 and 44: 14. TRADE PAYABLES The normal trade
Page 45 and 46: 18. DEFERRED TAX (CONT’D) Deferre
Page 47 and 48: 23. DIRECTORS' REMUNERATION Directo
Page 49 and 50: 25. TAXATION (CONT’D) Company 200
Page 51 and 52: 30. SIGNIFICANT RELATED PARTY TRANS
Page 53 and 54: 33. SIGNIFICANT EVENTS In conjuncti
Page 55 and 56: 34. SEGMENTAL INFORMATION (CONT’D
Page 57 and 58: Analysis of Shareholdings as at 15
Page 59 and 60: DIRECTORS’ SHAREHOLDING as at 15
Page 61 and 62: financial year, amongst others, on
Page 63 and 64: Statement Accompanying Notice of An
Page 65 and 66: Company Secretaries HIAP TECK VENTU

2004 - Hiap Teck Venture Berhad

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