Annual Report (Complete) - MYCRON Steel Berhad

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Notes to the Financial Statements 30 June 2010 (continued) 31. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (continued) (b) Significant outstanding balances arising from the above are as follows: Group Company 2010 RM 2009 RM 2010 RM 2009 RM Amount owing by subsidiaries Mycron Steel CRC Sdn Bhd - - 35,730,568 35,844,742 Amount owing by other related companies Melewar Steel Mills Sdn Bhd Melewar Steel Tube Sdn Bhd Melewar Integrated Engineering Sdn Bhd 7,015,904 26,737,004 1,414,278 7,449,777 8,216,908 - - - - - 1,152 - Amount owing to other related companies Melewar Steel Tube Sdn Bhd Melewar Integrated Engineering Sdn Bhd (45,170) - (23,093) (340,577) - - - - (c) Key management personnel are those persons, having the authority and responsibility for planning, directing and controlling the activities of the Company either directly or indirectly and thus are considered related parties of the Company. Key management personnel of the Company comprise only of Directors of the Company and the key management compensation is disclosed in Note 10 to the financial statements. 32. SEGMENT ANALYSIS No segment analysis is presented as the Group is involved in a single industry segment relating to the manufacturing of steel products. The business of the Group is entirely carried out in Malaysia. 33. FINANCIAL GUARANTEE CONTRACT As at 30 June 2010, the Company had given guarantees to banks amounting to RM138,544,049 (2009: RM112,293,749) for banking facilities extended to its subsidiaries of which, all (2009: all) have been drawn down. The fair value of the financial guarantee contract is immaterial to the financial statements. 34. AUTHORISATION FOR ISSUE OF FINANCIAL STATEMENTS The financial statements were authorised for issue by the Board of Directors on 5 October 2010. pg 79 | Mycron Steel Berhad
Properties Owned by Mycron Steel Berhad & Its Subsidiaries Address of Property Lease Brief description Land/built-up Approximate Net book expiry date and existing use area age of building value (RM) (years) Lot 717, Jalan Sungai Rasau, Freehold Factory cum 861,407 sq.ft. 21 88,393,100 Seksyen 16, 40200 office building (17.94 acres) Shah Alam, Selangor. Flat 10, 19-23 Palace Court, 30.9.2995 Apartment for Approximately 14 5,455,541 London W2 4LP. corporate use 1,456 sq.ft. Note: The above properties were revalued in 2006. pg 80 | Mycron Steel Berhad
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Contents Notice of Seventh (7th) An
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Notice of Seventh Annual General Me
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Chairman’s Statement On behalf of
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Chairman’s Statement (continued)
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Corporate Information Domicile : Ma
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Mycron Steel Berhad pg 11 | Mycron
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Quality Recognition pg 13 | Mycron
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Profile of Directors Tunku Dato’
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Profile of Directors (continued) Da
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Profile of Directors (continued) En
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Analysis of Shareholdings As at 15
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Analysis of Shareholdings As at 15
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Statement on Corporate Governance (
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Statement on Corporate Governance (
Page 30 and 31: 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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Page 84 and 85: FORM OF PROXY (please refer to the
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Annual Report (Complete) - MYCRON Steel Berhad

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