I-Berhad (7029-H) - Bursa Malaysia

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Young Executive Team “In a highly competitive world, a young executive team with ingenuity, creativity and dedication will be able to stay ahead of the competitors. This young energetic and vibrant team with its IT knowledge and capabilities will enable the Company to make the quantum leap and cut short the lengthy learning curve.” The young executive team is headed by Ricky Lim, 23, who is a graduate in Accounting from University of Melbourne, Australia and assisted by Charles Tan, 29, who holds a Bachelor of Science in Business Administration (Finance) from University of Kansas, USA, and also a Masters in Business Administration (Finance and Investment) from Washburn University, USA. The members of the team are: (front, from left) Jessica Lee, 25, a graduate in Social Science fro m University Science Malaysia; Tam Wai Yee, 24, a Business Administration graduate from University Malaya; Jane Ng, 24, a Science graduate from University Putra Malaysia: (back, from left) Charles Tan, Ricky Lim, Ian Looi, 27, an Arts graduate from California State University of Sacramento, USA; and Kim Ling Yew, 24, a graduate in Management Studies from University of Waikato, New Zealand. 11
12 Dear Shareholders, On behalf of the Board of Directors, I am pleased to present the Annual Report and Accounts of I-Berhad for the year ended 31 December 1999. When the new management took over I-Berhad on 4 August 1999, we charted a new business direction for the Company. In the past, the Company was mainly an Original Equipment Manufacturer (OEM). Although the products manufactured by the Company met the stringent quality standards set by the Japanese OEM buyers, there was hardly any sales under the Company’s own brand. We thus took the decision to introduce our own ‘i’ brand of products into the market. But more importantly, we positioned the ‘i’ brand as intelligent, innovative, interactive and international and competed with the leading brands in the country. We felt that this positioning is justified given the Company’s manufacturing track record as well as the current product technology. The Board recognises that the Company is operating in a highly competitive industry. The home appliances industry has a number of established players in the local market. However, the Company has been able to establish a “beachhead” in this industry because of our innovative and imaginative approach to create new demand for our products. Our performance in the past six months has shown that the domestic demand is still growing and that the momentum of growth will be sustained as the country’s economy is gaining strength. More importantly, the new management has managed to arrest the declining sales trend. The Company’s turnover peaked at RM139.6 million in the early 90s and since then, the turnover had been decreasing year by year. For the financial year ended 31 December 1999, the Company’s sales increased when compared to the previous year. This sales turnaround is even more impressive when the economic climate is taken into consideration. Over the past six months, we have transformed the Company from a purely domestic manufacturing concern into an aggressive marketing cum manufacturing concern. The transformation has yet to be completed. When completed in two to three years’ time, the Company will have home-grown technology, an internationally recognised brand and be a market leader. To support the expansion programme, the Company had on 20 January 2000 announced the following: 1. Proposed bonus issue of 20,196,000 new ordinary shares of RM1.00 each; 2. Proposed rights issue of: Chairman’s Statement a. 40,392,000 new ordinary shares of RM1.00 each and b. RM40,392,000 nominal value of 5-year 5% Irredeemable Convertible Unsecured Loan Stock (“ICULS”) with 40,392,000 free detachable warrants.
Page 1: I-Berhad (7029-H) innovative intell
Page 5 and 6: 02 I-Berhad was established on 2 Fe
Page 7 and 8: 04 Directors Mr Lim Kim Hong - Chai
Page 9 and 10: 06 I-Berhad (7029-H) (formerly know
Page 11 and 12: 08 Lim Kim Hong, 49, appointed Chai
Page 13: 10 From left to right 1. Chan Yit H
Page 17 and 18: 14 Chairman’s Statement ... cont
Page 19 and 20: 16 CEO’s Review I am pleased to i
Page 21 and 22: 18 The new Management has also unde
Page 23 and 24: 20 April 1999 Sumurwang Group was o
Page 25 and 26: 22 5 November 1999 Tied-up with Gut
Page 27 and 28: 24 The directors hereby submit thei
Page 29 and 30: 26 Significant Event The significan
Page 31 and 32: 28 We, EU HONG CHEW and TEY SIEW TH
Page 33 and 34: 30 1999 1998 Current Assets Note RM
Page 35 and 36: 32 1999 1998 Cash Flows from Operat
Page 37 and 38: 34 B. Segment Information Cash flow
Page 39 and 40: 36 1999 1998 Note RM RM Turnover 18
Page 41 and 42: 38 3. Significant Accounting Polici
Page 43 and 44: 40 8. Bank Borrowings (Secured) Gro
Page 45 and 46: 42 11.Quoted Investment, at Cost Gr
Page 47 and 48: 44 12.Fixed Assets (cont’d) Net B
Page 49 and 50: 46 12.Fixed Assets (cont’d) Accum
Page 51 and 52: 48 12.Fixed Assets (cont’d) Compa
Page 53 and 54: 50 12.Fixed Assets (cont’d) Accum
Page 55 and 56: 52 14.Intangible Assets Group 1999
Page 57 and 58: 54 19.Loss Before Taxation Loss bef
Page 59 and 60: 56 22.Significant Event During the
Page 61 and 62: 58 Authorised Share Capital The aut
Page 63 and 64: 60 Location Description Tenure Size
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I/We of Form of Proxy being a membe
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I-Berhad (7029-H) - Bursa Malaysia

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