2004 - Hiap Teck Venture Berhad

25. TAXATION (CONT’D)
Company
2004 2003
RM'000 RM'000
Profit/(loss) before taxation 10,853 (54)
Taxation at Malaysian statutory tax rate of 28% (2003: 28%) 3,039 (15)
Effect of expenses not deductible for tax purposes 138 7
Underprovision of deferred tax in prior years 60 -
Underprovision of tax expense in prior years 79 -
Tax expense for the year 3,316 (8)
26. EARNINGS PER SHARE
Basic
Basic earnings per share is calculated by dividing the net profit for the year by the weighted average number of
ordinary shares in issue during the financial year:
2004 2003
Net profit for the year (RM'000) 41,346 20,622
Weighted average number of ordinary shares in issue ('000) 319,800 65,025
Basic earnings per share (sen) 12.93 31.71
27. DIVIDENDS
Net Dividends
Amount
per Ordinary Share
2004 2003 2004 2003
RM'000 RM'000 Sen Sen
Final
5% less 28% taxation, in respect
of the year ended 31 July 2002 - 918 - 1.80
3% less 28% taxation, in respect
of the year ended 31 July 2003 (Note) 3,536 - 1.08 -
Interim
2% less 28% taxation, in respect
of the year ended 31 July 2004 2,357 - 0.72 -
5,893 918 1.80 1.80
Note:-
The additional dividends of RM 985,000 paid during the financial year is in respect of new ordinary shares issued
subsequent to previous financial year but before book closure for dividend entitlement.
At the forthcoming Annual General Meeting, a final 3% tax-exempt dividend in respect of the current financial year
amounting to RM4,911,000 will be proposed for shareholders’ approval. The financial statements for the current
financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be
accounted for in equity as an appropriation of retained profits in the financial year ending 31 July 2005.
48 HIAP TECK VENTURE BERHAD