I-Berhad (7029-H) - Bursa Malaysia

24 The directors hereby submit their report together with the audited accounts of the Company and of the Group
for the financial year ended 31 December, 1999.
Principal Activities
The principal activities of the Company are the manufacture of household electrical appliances and
investment holding.
The principal activities of the subsidiaries are described in Note 10 to the accounts.
There have been no significant changes in these principal activities during the financial year.
Change of Name
The Company changed its name from Neico Industries (M) Berhad to I-Berhad on 12 August, 1999.
Results
Group Company
RM RM
Loss after taxation (5,491,616) (6,628,760)
Retained profits brought forward and available for appropriation 3,496,872 3,825,365
Less: Proposed first and final tax exempt dividend of 1% (201,960) (201,960)
3,294,912 3,623,405
Accumulated loss carried forward (2,196,704) (3,005,355)
Dividends
Since the end of the previous financial year, the Company paid a first and final tax exempt dividend of 6%
amounting to RM1,211,760 on 27 September, 1999 in respect of the previous financial year.
The directors now recommend a first and final tax exempt dividend of 1% amounting to RM201,960 in respect
of the current financial year, subject to the approval from the Ministry of Finance.
Reserves and Provisions
There were no material transfers to or from reserves or provisions during the financial year, other than those
disclosed in the accounts.
Bad and Doubtful Debts
Directors’ Report
...for the year ended 31 Jan 1999
Before the profit and loss accounts and balance sheets were made out, the directors took reasonable steps to
ascertain that action had been taken in relation to the writing off of bad debts and the making of provision
for doubtful debts and satisfied themselves that there were no known bad debts that need to be written off
and that adequate provision had been made for doubtful debts.