Annual Report (Complete) - MYCRON Steel Berhad

Directors’ Report
for the financial year ended 30 June 2010
The Directors hereby submit their report together with the audited financial statements of the Group and Company for the financial
year ended 30 June 2010.
PRINCIPAL ACTIVITIES
The principal activities of the Company are investment holding and the provision of management services to its subsidiaries. The principal
activities of the Group are manufacturing and trading of cold rolled steel sheets in coils. There have been no significant changes in the
nature of these activities during the financial year.
FINANCIAL RESULTS
Profit/(loss) for the financial year
Group
RM
25,494,830
Company
RM
(4,839,741)
DIVIDENDS
There were no dividends declared or paid by the Company since 30 June 2009.
The Directors now recommend the payment of final single tier dividend of 3.5 sen per share on 179,000,000 ordinary shares amounting
to RM6,228,590 in respect of financial year ended 30 June 2010 which is subject to the approval of the shareholders at the forthcoming
Annual General Meeting of the Company. The dividend amount payable is computed based on the Company’s issued and paid up
capital as at 30 June 2010, excluding treasury shares held by the Company.
RESERVES AND PROVISIONS
All material transfers to or from reserves or provisions during the financial year are shown in the financial statements.
DIRECTORS
The Directors who have held office during the period since the date of the last report are:
Tunku Dato’ Ya’acob bin Tunku Tan Sri Abdullah
Tunku Dato’ Kamil Ikram bin Tunku Tan Sri Abdullah
Dato’ Zulkifly @ Sofi bin Haji Mustapha
Datuk Lim Kim Chuan
Dato’ Abu Talib bin Mohamed
Dato’ Narendrakumar Jasani a/l Chunilal Rugnath
Azlan bin Abdullah
Paul Chan Wan Siew
Suhaimi bin Kamaralzaman (appointed on 23 Feb 2010)
In accordance with Article 77 of the Company’s Article of Association, Tunku Dato’ Ya’acob bin Tunku Tan Sri Abdullah, Tunku Dato’
Kamil Ikram bin Tunku Tan Sri Abdullah and Dato’ Narendrakumar Jasani a/l Chunilal Rugnath retire at the forthcoming Annual General
Meeting and, being eligible, offer themselves for re-election.
In accordance with Article 83 of the Company’s Article of Association, Suhaimi bin Kamaralzaman, who was appointed to the Board
subsequent to the date of the last Annual General Meeting, retires at the forthcoming Annual General Meeting and, being eligible,
offers himself for election.
pg 41 | Mycron Steel Berhad