WTK Holdings Berhad - Bursa Malaysia

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14 Material Contracts There were no material contracts entered into since the end of the previous financial year end involving directors and substantial shareholders except for the Contracts for Log Supply for purchases of raw material which was renewed on 1 January 2002 between W T K Holdings Berhad's subsidiaries namely Cairnfield Sdn Bhd, Gopoint Sdn Bhd, Sarawak Moulding Industries Berhad, Woodbanks Industries (M) Sdn Bhd and Kuching Plywood Bhd with the following related companies:- i) Harbour - View Realty Sdn Bhd; ii) W T K Realty Sdn Bhd; iii) Protection Gloves Sdn Bhd; iv) Simbol Strategik Sdn Bhd; v) Jati Bahagia Sdn Bhd; vi) Southwind Plantation Sdn Bhd; vii) Systematic Logging Sdn Bhd; and viii) Sentiaya Sdn Bhd. These contracts were renewed for another three (3) years based on the same terms and conditions. W T K HOLDINGS BERHAD (10141-M)
Audit Committee Report COMPOSITION AND DESIGNATION OF THE AUDIT COMMITTEE Lt Gen (Rtd) Datuk Seri Abdul Manap bin Ibrahim - Chairman (Independent Non-Executive Director) Datuk Wong Kie Nai (Executive Director/CEO) Loh Siew Choon (Independent Non-Executive Director) TERMS OF REFERENCE OF THE AUDIT COMMITTEE Constitution The Audit Committee was formed pursuant to a resolution passed on 20 September 1993 by the Board of Directors. Objectives It is the objective of the Audit Committee to assure the shareholders of the Company that the Group has complied with applicable Approved Accounting Standards and the Listing Requirements of the Bursa Malaysia Securities Berhad. The Audit Committee will endeavour to adopt certain practices aimed at maintaining appropriate standards of responsibility, integrity and accountability to all shareholders of the Company. With this, the Audit Committee will review, evaluate and satisfy itself that the Management Committee, assisted by the internal audit team, has exercised its role and carried out its function effectively to:- (1) maintain a sound system of internal control to safeguard shareholders' investment and company assets; (2) assist the Board as a whole in setting appropriate policies and procedures to review the adequacy and integrity of the Group's system of internal control and management information systems including system for compliance with applicable laws, rules, directives and guidelines; and (3) identify principal risks and ensure the implementation of appropriate internal control systems to manage these risks affected. Membership The Audit Committee shall be appointed by the Board of Directors from among their numbers and shall be composed of not fewer than 3 members of whom a majority shall be independent nonexecutive directors. A quorum shall be 2 members of which the majority present must be independent non-executive directors. A N N U A L R E P O R T 2 0 0 3 15
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 and 10: Directors’ Profile (Cont’d) Tha
Page 11 and 12: Directors’ Statement on Corporate
Page 13 and 14: Directors’ Statement on Corporate
Page 15: Directors’ Statement on Corporate
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
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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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