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4. FINANCIAL REPORTING In presenting the annual financial statements and quarterly announcement to shareholders, the Directors aim to present a balanced and understandable assessment of the Group’s position and prospects. This also applies to other price-sensitive public reports and reports to regulators. 5. DIRECTORS’ RESPONSIBILITY STATEMENT FOR PREPARING THE FINANCIAL STATEMENTS The Board is responsible for the preparation of the financial statements of the Company. The Board has ensured that the financial statements have been prepared based on accounting policies which have been consistently and properly applied, supported by reasonable and prudent judgements and estimates, in adherence to all applicable accounting standards. It is also the Board’s responsibility to ensure that accounting records are accurate, within margins of reasonableness, which discloses the financial position of the Group in a true and fair manner. The statements by directors pursuant to Section 169(15) of the Companies Act, 1965 in relation to the preparation of the financial statements is set out on page 87 of this Annual Report under Statement by Directors. 6. RELATIONSHIP WITH THE AUDITORS The Company has established transparent and appropriate relationships with the Company’s auditors through the Audit Committee. The role of the Audit Committee in relation to the external auditors is described on page 46 to 55 of the Annual Report. 7. INTERNAL CONTROL Introduction The Code requires listed companies to maintain a sound system of internal control to safeguard shareholders’ investments and the Group’s assets. The Kuala Lumpur Stock Exchange’s (`KLSE’) Revamped Listing Requirements require directors of listed companies to include a statement in annual reports on the state of their internal controls. The KLSE’s Statement on Internal Control: Guidance for Directors of Public Listed Companies (`Guidance’) provides guidance for compliance with these requirements. Set out below is the Board’s Internal Control Statement, which has been prepared in accordance with the Guidance. Responsibility The Board recognizes the importance of sound controls and risk management practices to good corporate governance. The Board affirms its overall responsibility for the Group’s system of internal controls and risk management, and for reviewing the adequacy and integrity of the system. Such a system, however, can only be designed to manage rather than eliminate the risk of failure to achieve business objectives. This system, by its nature, can only provide reasonable but not absolute assurance against material misstatement or loss. Laporan Tahunan 2002 Annual Report STATEMENT OF CORPORATE GOVERNANCE (CONTINUED) 37
PENYATA TADBIR URUS KORPORAT (SAMBUNGAN) 38 Tanggungjawab Lembaga Pengarah mengakui kepentingan amalan kawalan dan pengurusan risiko yang baik bagi mencapai matlamat tadbir urus korporat yang baik. Lembaga Pengarah mengakui tanggungjawab keseluruhannya terhadap sistem kawalan dalaman dan pengurusan risiko Kumpulan dan untuk menyemak kecukupan serta kewibawaan sistem tersebut. Walau bagaimanapun, sistem ini hanya boleh dirangka untuk menangani dan bukannya menghapuskan risiko kegagalan mencapai objektif perniagaan. Sistem ini secara semulajadi hanya boleh menyediakan jaminan yang berpatutan dan bukannya jaminan muktamad daripada sebarang salahnyata atau kerugian ketara. Rangka Kerja Pengurusan Risiko Kumpulan sedia mempunyai proses untuk mengenalpasti, menilai, memantau dan menangani risiko utama yang menjejaskan pencapaian objektif perniagaannya. Lembaga Pengarah telah mewujudkan satu struktur organisasi dengan tahap tanggungjawab dan pengagihan kuasa yang ditakrif dengan jelas. Ia telah meluaskan tanggungjawab Jawatankuasa Audit supaya meliputi tugas memantau semua kawalan dalaman bagi pihaknya. Sebagai langkah menuju ke arah pendekatan pengurusan risiko yang lebih bersepadu, Lembaga Pengarah sedang dalam proses menubuhkan sebuah Jawatankuasa Pengurusan Risiko. Jawatankuasa Pengurusan Risiko akan dipengerusikan oleh Ketua Pegawai Eksekutif dan terdiri daripada Pengarah Eksekutif, Ketua Operasi Kewangan Kumpulan, Ketua Projek dan Perancangan Korporat, Ketua Sumber Manusia dan Ketua Tadbir Urus Korporat serta kehadiran wakil-wakil dari setiap unit operasi, mengikut keperluan. Jawatankuasa Pengurusan Risiko akan bermesyuarat secara kerap untuk menyemak dan mempertimbangkan apa yang mengubah proses pengurusan dan kawalan risiko yang perlu disyorkan. Tinjauannya akan meliputi perkaraperkara seperti tindak balas terhadap risiko penting yang dikenalpasti, hasil daripada proses pemantauan serta perubahan yang dibuat ke atas sistem kawalan dalaman. Ia akan mengemukakan laporan kepada Jawatankuasa Audit yang turut mengawalselia fungsi Jawatankuasa Pengurusan Risiko. Selepas itu Jawatankuasa Audit akan membuat laporan kepada Lembaga Pengarah tentang perubahan penting yang berlaku dalam persekitaran perniagaan dan luaran yang memberi kesan kepada risiko utama. Sebagai sebahagian daripada proses pengurusan risiko, beberapa jawatankuasa ad-hoc ditubuhkan untuk menangani isu-isu penting apabila perlu. Unsur-unsur Utama Lain Lembaga Pengarah juga telah menubuhkan Jawatankuasa Tender untuk memastikan ketelusan dan kewibawaan proses pemberian kontrak. Unsur-unsur utama lain dalam sistem kawalan dalaman Kumpulan adalah seperti yang ditunjukkan di bawah: • Had kuasa dan struktur organisasi yang dibahagikan mengikut bahagian, ditakrif dengan jelas bagi memantau tatalaku dan operasi unit-unit perniagaan individu • Pembahagian tanggungjawab secara jelas kepada jawatankuasa Lembaga Pengarah penuh dan kepada unit-unit operasi, termasuk tahap kuasa bagi semua aspek perniagaan seperti yang dibentangkan dalam manual kuasa • Dasar dan prosedur dalaman yang didokumenkan secara jelas dibentangkan dalam satu siri Manual Operasi Piawai yang kini sedang disemak untuk dipertingkatkan supaya menggambarkan perubahan dalam struktur dan proses perniagaan. MALAYSIAN RESOURCES CORPORATION BERHAD
Page 2 and 3: 2 NOTIS MESYUARAT AGUNG TAHUNAN 10
Page 4 and 5: NOTICE IS HEREBY GIVEN THAT the Thi
Page 6 and 7: (ii) disclosure is made in the annu
Page 8 and 9: (i) the transactions are in the ord
Page 10 and 11: NOTES : 1. A member of the Company
Page 12 and 13: 1. Directors who are standing for r
Page 14 and 15: DATO’ SERI SYED ANWAR JAMALULLAIL
Page 16 and 17: SHAHRIL RIDZA RIDZUAN Shahril Ridza
Page 18 and 19: DATO’ AHMAD IBNIHAJAR Dato’ Ahm
Page 20 and 21: DATO’ DR. MOHD SHAHARI AHMAD JABA
Page 22 and 23: 1,500 1,200 900 600 300 0 3,000 2,5
Page 24 and 25: BOARD OF DIRECTORS/ LEMBAGA PENGARA
Page 26 and 27: 55% Transmission Technology Sdn Bhd
Page 28 and 29: The Board of Directors is committed
Page 30 and 31: Supply of Information to the Board
Page 32 and 33: 2. BOARD COMMITTEES The following B
Page 34 and 35: Remuneration Committee (RC) In line
Page 36 and 37: Remuneration Committee (RC) (CONTIN
Page 40 and 41: Risk Management Framework The Group
Page 42 and 43: Other Key Elements (CONTINUED) •
Page 44 and 45: MATERIAL CONTRACTS - MRCB (DECEMBER
Page 46 and 47: MATERIAL CONTRACTS - MRCB (CONTINUE
Page 48 and 49: AUDIT COMMITTEE REPORT Composition
Page 50 and 51: Terms of Reference 1. The Audit Com
Page 52 and 53: Duties and Responsibilities 1. To r
Page 54 and 55: Meetings 1. The Committee shall mee
Page 56 and 57: Summary of Activities of The Audit
Page 58 and 59: DEAR SHAREHOLDERS, The operating an
Page 60 and 61: The full financial year’s results
Page 62 and 63: Meanwhile, NSTP returned to the bla
Page 64 and 65: In the coming financial year, we ai
Page 66 and 67: OPERATIONS REVIEW ULASAN OPERASI
Page 68 and 69: ENGINEERING, CONSTRUCTION AND OVERS
Page 70 and 71: for electricity and the revival of
Page 72 and 73: uildings and suites, international
Page 74 and 75: Following the completion of first p
Page 76 and 77: The development of Seri Iskandar is
Page 78 and 79: At company level, TV3 recorded a pr
Page 80 and 81: The product changes have had an imm
Page 82 and 83: FINANCIAL REPORT 82 DIRECTORS’ RE
Page 84 and 85: EMPLOYEES' SHARE OPTION SCHEME The
Page 86 and 87: DIRECTORS' INTERESTS According to t
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STATEMENT BY DIRECTORS PURSUANT TO
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REPORT OF THE AUDITORS TO THE MEMBE
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Group Company Note 2002 2001 2002 2
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Share Non- Capital Distributable No
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Group Company Note 2002 2001 2002 2
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(A) SUMMARY OF EFFECTS ON DISPOSAL
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1 GENERAL INFORMATION The Company i
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3 SUMMARY OF SIGNIFICANT ACCOUNTING
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6 PROFIT/(LOSS) FROM OPERATIONS (CO
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10 PROPERTY, PLANT AND EQUIPMENT Gr
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10a OPERATIONAL PROPERTY, PLANT AND
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10a OPERATIONAL PROPERTY, PLANT AND
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10b INVESTMENT PROPERTIES (CONTINUE
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13 SUBSIDIARIES Company 2002 2001 R
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15 JOINTLY CONTROLLED ENTITIES (CON
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19 TRADE AND OTHER RECEIVABLES (CON
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24 PROVISIONS FOR LIABILITIES AND C
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25 TRADE AND OTHER PAYABLES Group C
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27 SHORT TERM BORROWINGS (CONTINUED
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30 LONG TERM LIABILITIES Group Comp
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33 STATUTORY AND OTHER RESERVES Non
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36 CONTINGENT LIABILITIES Group Com
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38 ENTERPRISES IN THE GROUP (CONTIN
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40 SIGNIFICANT EVENTS DURING THE FI
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42 COMPARATIVES (a) Certain compara
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Percentage No. of of Share Name of
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Date/ Net book year Approvalue as a
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PENYATA KEWANGAN 152 LAPORAN PENGAR
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SKIM PILIHAN SAHAM KAKITANGAN Skim
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KEPENTINGAN PARA PENGARAH Menurut D
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PENYATA OLEH PARA PENGARAH MENURUT
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LAPORAN JURUAUDIT KEPADA AHLI-AHLI
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ASET BUKAN SEMASA Kumpulan Syarikat
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Tidak Modal Boleh Saham Diagihkan N
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Perubahan dalam modal kerja: Kumpul
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(A) RINGKASAN KESAN PELUPUSAN SEBUA
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1 MAKLUMAT AM Syarikat pada dasarny
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3 RINGKASAN DASAR-DASAR PERAKAUNAN
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6 (KERUGIAN)/KEUNTUNGAN DARIPADA OP
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10 HARTANAH, LOJI DAN PERALATAN Nil
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10a HARTANAH, LOJI DAN PERALATAN OP
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10a HARTANAH, LOJI DAN PERALATAN OP
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10b HARTANAH PELABURAN (SAMBUNGAN)
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13 SYARIKAT-SYARIKAT SUBSIDIARI Sya
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15 ENTITI-ENTITI DIKAWAL BERSAMA (S
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20 INVENTORI Kumpulan 2002 2001 RM'
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24 PERUNTUKAN BAGI TANGGUNGAN DAN C
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25 PEMIUTANG DAGANGAN DAN LAIN-LAIN
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27 PINJAMAN JANGKA PENDEK (SAMBUNGA
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30 TANGGUNGAN JANGKA PANJANG Kumpul
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33 RIZAB BERKANUN DAN LAIN-LAIN Tid
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36 TANGGUNGAN LUAR JANGKA Kumpulan
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38 SYARIKAT-SYARIKAT DALAM KUMPULAN
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39 MAKLUMAT SEGMEN Analisis keputus
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40 PERISTIWA PENTING SEPANJANG TAHU
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Modal Saham Dibenarkan : 2,000,000,
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Peratusan Bil Saham Modal Nama Peme
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Tarikh/ Nilai Buku tahun bagi bersi
Page 224 and 225:
I/We of (Before completing this for
Page 226 and 227:
Saya/Kami yang beralamat di (Sila l
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