WTK Holdings Berhad - Bursa Malaysia

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8 Corporate Structure Timber Division Foil Division WTK Holdings Berhad Tapes Division Property Division Rubber Product Division General Aluminium Works (M) Sdn Bhd Loytape Industries Sdn Bhd Central Mercantile Corporation (S) Ltd Dusun Nyiur Sdn Bhd Samanda Equities Sdn Bhd Central Elastic Corporation Sdn Bhd Mundet Sales and Technology (M) Sdn Bhd Zapstat Sdn Bhd W T K HOLDINGS BERHAD (10141-M) Samanda Trading Sdn Bhd Central Mercantile Corporation (M) Sdn Bhd Samanda Marketing & Sales Sdn Bhd Samanda Marketing Corporation Sdn Bhd Cairnfield Sdn Bhd Kuching Plywood Bhd Gopoint Sdn Bhd Sarawak Moulding Industries Berhad Woodbanks Industries (M) Sdn Bhd First Count Sdn Bhd Limpah Mewah Sdn Bhd Ninjas Development Sdn Bhd Sanitama Sdn Bhd Song Logging Company Sendirian Berhad Sut Sawmill (3064) Sdn Bhd Piramid Intan Sdn Bhd WTK Heli-Logging Sdn Bhd WTK-YINK Heli Harvesting Sdn Bhd Winning Properties Sdn Bhd Immense Fleet Sdn Bhd
Directors’ Statement on Corporate Governance The Board of Directors ("Board") of W T K Holdings Berhad ("WTK" or "Company") is pleased to report that for the financial year under review, WTK has continued to apply good governance practices in managing and directing the business affairs of the Group, by adopting the substance and spirit of the principles advocated by the Malaysian Code on Corporate Governance ("Code") wherever possible. In this Statement, the Board has considered the manner in which the principles of the Code have been applied, the extent of compliance with the Best Practices and the alternatives for departure from such best practices. The Role of the Board The Board recognises their primary role in the strategic development and control of the Group. The pivotal role of the Board of Directors is to provide an objective judgement to the strategic planning process and, apart from the Executive Director/Chief Executive Officer ("CEO"), is not involved in the day-to-day management of the business. The Board is firmly supported by the Management Committee who has the responsibilities in planning and formulating business strategies, finance, operating policies and in monitoring the achievement of the business strategies of the Group. The Management Committee reports thereon to the Board on these matters. The Management Committee is also entrusted with the responsibility and authority to examine particular issues and report back to the Board with their recommendations. The Board will then independently assess the merits of the Management Committee's proposals and satisfy itself that the Management Committee had considered the appropriate elements of a strategic plan and monitor the Management Committee's success in implementing its strategy. The final decision on all significant matters proposed by the Management Committee lies with the Board as a whole. Board Balance The number of Directors on the Board remains at six (6) and comprised a good balance of one (1) Executive and five (5) Non-Executive Directors with no individual dominating in the Board's decision making process. The Board has two (2) Independent Non-Executive Directors, representing one third (1/3) of the total composition of its members. The Board has a good mix of members with expertise and experience in economics, investments, accounting and finance, technical and corporate management disciplines thereby ensuring a broader perspective and depth in the Board's decision making process. The Independent Directors play a vital role in providing independent views on various issues and ensures a balanced and fair deliberation process to safeguard the interests of the minority shareholders. A N N U A L R E P O R T 2 0 0 3 9
Page 1 and 2: 03 ANNUAL REPORT
Page 3 and 4: CONTENTS 2 Corporate Information 3
Page 5 and 6: Directors’ Profile Yg Bhg Datuk W
Page 7 and 8: Directors’ Profile (Cont’d) Won
Page 9: Directors’ Profile (Cont’d) Tha
Page 13 and 14: Directors’ Statement on Corporate
Page 15 and 16: Directors’ Statement on Corporate
Page 17 and 18: Audit Committee Report COMPOSITION
Page 19 and 20: Audit Committee Report (Cont’d) 5
Page 21 and 22: Directors’ Statement on Internal
Page 23 and 24: Directors’ Statement on Internal
Page 25 and 26: Chairman’s Statement (Cont’d) I
Page 27 and 28: Chairman’s Statement (Cont’d) i
Page 29 and 30: FINANCIAL STATEMENTS 28 Directors
Page 31 and 32: Directors’ Report (Cont’d) DIRE
Page 33 and 34: Directors’ Report (Cont’d) EMPL
Page 35 and 36: Directors’ Report (Cont’d) SIGN
Page 37 and 38: Directors’ Report (Cont’d) (f)
Page 39 and 40: Report of the Auditors to the Membe
Page 41 and 42: Balance Sheets as at 31 December 20
Page 43 and 44: Consolidated Statement of Changes i
Page 45 and 46: Cash Flow Statements for the year e
Page 47 and 48: Notes to the Financial Statements 3
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Notes to the Financial Statements (
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List of Properties (Cont’d) DATE
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List of Properties (Cont’d) DATE
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Statistic on Shareholdings (Cont’
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Notice of Annual General Meeting NO
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Notice of Annual General Meeting (C
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Form of Proxy W T K HOLDINGS BERHAD
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WTK Holdings Berhad - Bursa Malaysia

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