Annual Report (Complete) - MYCRON Steel Berhad

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Contents Notice of Seventh (7th) Annual General Meeting Chairman’s Statement Corporate Social Responsibility Corporate Information Quality Recognition Profile of Directors Group Financial Highlights Analysis of Shareholdings Statement on Corporate Governance Statement on Internal Control Audit Committee Report Directors’ Report Statement by Directors Statutory Declaration Independent Auditors’ Report Income Statements Balance Sheets Consolidated Statement of Changes in Equity Company Statement of Changes in Equity Cash Flow Statements Notes to the Financial Statements Properties Owned by Mycron Steel Berhad & Its Subsidiaries 2 5 8 9 13 15 20 21 24 35 38 41 45 45 46 47 48 49 50 51 53 80 Form of Proxy pg 1 | Mycron Steel Berhad
Notice of Seventh Annual General Meeting NOTICE IS HEREBY GIVEN that the Seventh (7th) Annual General Meeting of the Company will be held at The Auditorium, Podium 1, Menara MAA, No. 12 Jalan Dewan Bahasa, 50460 Kuala Lumpur on Tuesday, 30 November 2010 at 10.00 a.m. for the following purposes: AS ORDINARY BUSINESS 1. To receive the Audited Financial Statements for the year ended 30 June 2010 together with the Reports of the Directors and the Auditors thereon. 2. To approve the payment of a first and final single tier dividend of 3.5 sen per share in respect of the financial year ended 30 June 2010. 3. To approve the increase in Directors’ fees for Non-Executive Directors from RM324,000 to RM374,400 in respect of the financial year ending 30 June 2011 to be payable quarterly in arrears. (Resolution 1) (Resolution 2) 4. To re-elect the following Directors of the Company who are retiring pursuant to Article 77 of the Company’s Articles of Association and who, being eligible, offer themselves for re-election: (i) Tunku Dato’ Ya’acob bin Tunku Tan Sri Abdullah (ii) Tunku Dato’ Kamil Ikram bin Tunku Tan Sri Abdullah (iii) Dato’ Narendrakumar Jasani a/l Chunilal Rugnath 5. To re-elect En Suhaimi bin Kamaralzaman who is retiring pursuant to Article 83 of the Company’s Articles of Association and who, being eligible, offers himself for re-election. 6. To re-appoint Messrs PricewaterhouseCoopers as Auditors of the Company and to authorise the Directors to fix their remuneration. (Resolution 3) (Resolution 4) (Resolution 5) (Resolution 6) (Resolution 7) AS SPECIAL BUSINESS 7. To consider and if thought fit, to pass the following resolutions as Ordinary Resolutions: (a) Proposed Renewal of Authority for the Company to purchase its own shares “THAT subject to compliance with Section 67A of the Companies’ Act, 1965, the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and any prevailing laws, rules, regulations, orders, guidelines and requirements issued by any relevant authority, the Company be and is hereby unconditionally and generally authorised to purchase and hold such number of ordinary shares of RM1 each in the Company (“Proposed Renewal of Share Buy-Back Authority”) as may be determined by the Directors of the Company from time to time through Bursa Securities upon such terms and conditions as the Directors may deem fit in the interest of the Company provided that the aggregate number of shares to be purchased pursuant to this Resolution does not exceed ten percent (10%) of the issued and paid-up share capital of the Company and that an amount not exceeding the Company’s total audited retained profits of RM34,523,585 and share premium account of RM14,918,638 as at 30 June 2010 would be allocated by the Company for the Proposed Renewal of Share Buy-Back Authority. AND THAT such authority shall commence immediately upon passing of this ordinary resolution and will expire at the conclusion of the next Annual General Meeting of the Company unless earlier revoked or varied by ordinary resolution of shareholders of the Company in a general meeting or upon the expiration of the period within which the next Annual General Meeting is required by law to be held whichever is earlier but not so as to prejudice the completion of purchase(s) made by the Company before the aforesaid expiry date. AND THAT the Directors be and are hereby authorised to take all steps necessary to implement, finalise and to give full effect to the Proposed Renewal of Share Buy-Back Authority and further that authority be and is hereby given to the Directors to decide in their absolute discretion to either retain the shares so purchased as treasury shares or cancel them or both”. (Resolution 8) pg 2 | Mycron Steel Berhad
Page 4 and 5: Notice of Seventh Annual General Me
Page 6 and 7: Chairman’s Statement On behalf of
Page 8 and 9: Chairman’s Statement (continued)
Page 10 and 11: Corporate Information Domicile : Ma
Page 12 and 13: Mycron Steel Berhad pg 11 | Mycron
Page 14 and 15: Quality Recognition pg 13 | Mycron
Page 16 and 17: Profile of Directors Tunku Dato’
Page 18 and 19: Profile of Directors (continued) Da
Page 20 and 21: Profile of Directors (continued) En
Page 22 and 23: Analysis of Shareholdings As at 15
Page 24 and 25: Analysis of Shareholdings As at 15
Page 26 and 27: Statement on Corporate Governance (
Page 36 and 37: Statement on Internal Control 1. In
Page 38 and 39: Statement on Internal Control (cont
Page 40 and 41: Audit Committee Report (continued)
Page 42 and 43: Directors’ Report for the financi
Page 44 and 45: Directors’ Report for the financi
Page 46 and 47: Statement by Directors Pursuant to
Page 48 and 49: Income Statements for the financial
Page 50 and 51: Consolidated Statement of Changes i
Page 52 and 53:
Cash Flow Statements for the financ
Page 54 and 55:
Notes to the Financial Statements 3
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THIS PAGE HAS BEEN INTENTIONALLY LE
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FORM OF PROXY (please refer to the
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Annual Report (Complete) - MYCRON Steel Berhad

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