I-Berhad (7029-H) - Bursa Malaysia
I-Berhad (7029-H) - Bursa Malaysia
I-Berhad (7029-H) - Bursa Malaysia
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
24 The directors hereby submit their report together with the audited accounts of the Company and of the Group<br />
for the financial year ended 31 December, 1999.<br />
Principal Activities<br />
The principal activities of the Company are the manufacture of household electrical appliances and<br />
investment holding.<br />
The principal activities of the subsidiaries are described in Note 10 to the accounts.<br />
There have been no significant changes in these principal activities during the financial year.<br />
Change of Name<br />
The Company changed its name from Neico Industries (M) <strong>Berhad</strong> to I-<strong>Berhad</strong> on 12 August, 1999.<br />
Results<br />
Group Company<br />
RM RM<br />
Loss after taxation (5,491,616) (6,628,760)<br />
Retained profits brought forward and available for appropriation 3,496,872 3,825,365<br />
Less: Proposed first and final tax exempt dividend of 1% (201,960) (201,960)<br />
3,294,912 3,623,405<br />
Accumulated loss carried forward (2,196,704) (3,005,355)<br />
Dividends<br />
Since the end of the previous financial year, the Company paid a first and final tax exempt dividend of 6%<br />
amounting to RM1,211,760 on 27 September, 1999 in respect of the previous financial year.<br />
The directors now recommend a first and final tax exempt dividend of 1% amounting to RM201,960 in respect<br />
of the current financial year, subject to the approval from the Ministry of Finance.<br />
Reserves and Provisions<br />
There were no material transfers to or from reserves or provisions during the financial year, other than those<br />
disclosed in the accounts.<br />
Bad and Doubtful Debts<br />
Directors’ Report<br />
...for the year ended 31 Jan 1999<br />
Before the profit and loss accounts and balance sheets were made out, the directors took reasonable steps to<br />
ascertain that action had been taken in relation to the writing off of bad debts and the making of provision<br />
for doubtful debts and satisfied themselves that there were no known bad debts that need to be written off<br />
and that adequate provision had been made for doubtful debts.