L a p o r a n T a h u n a n 2 0 0 0 A n n u a l R e p o r t - ChartNexus

Notes to the Financial Statements (continued)For the financial period of seventeen months ended 31 December 20007 TAXATION (continued)The effective tax rate of the Company for the financial period was higher than the statutory tax rate mainly dueto certain expenses which were not deductible for tax purposes. The effective tax rate of the Group was highermainly due to losses of certain subsidiary companies that are not available for set-off against taxable profits ofother subsidiary companies.Subject to the approval by the Inland Revenue Board, the unabsorbed capital allowances available to be carriedforward to set off against future taxable profits for the Group and the Company are approximately RM2,284,000(31.7.1999: RM1,165,000) and RM1,337,000 (31.7.1999: RM1,166,000) respectively for which the related taxbenefits have not been recognised in the financial statements.Subject to the approval by the Inland Revenue Board, the unutilised tax losses available to be carried forward toset off against future taxable profits for the Group is approximately RM11,047,000 (31.7.1999: RM5,387,000) forwhich the related tax benefits have not been recognised in the financial statements.8 EARNINGS AND NET TANGIBLE ASSETS PER SHAREThe earnings per share is calculated by dividing the Gro u p ’s net profit attributable to shareholders ofRM5,421,466 (31.7.1999: RM31,927,898) by the weighted average number of ord i n a ry shares in issue of231,532,486 (31.7.1999: 231,480,882) shares during the financial period.The net tangible assets per share is calculated by dividing the net tangible assets of RM731,229,109 (31.7.1999:RM737,929,074) by the issued share capital of 231,589,033 shares, net of 45,000 tre a s u ry shares (31.7.1999:231,446,033 shares, net of 45,000 treasury shares), of the Company at the end of the financial period.In accordance with Malaysian Accounting Standards No. 1, the fully diluted earnings per share, on theassumption that options over shares outstanding as at the balance sheet date were fully exercised at thebeginning of the financial period, and the monies received were placed in short term deposits to earn interestincome at 3.15% per annum, less tax of 28%, is not shown as the effect is anti-dilutive. As at the end of thefinancial period, there were options on 7,718,000 ordinary shares granted but not exercised pursuant to theEmployees’ Share Option Scheme of the Company.Comparative earnings and net tangible assets per share information has been restated to take into account thee ffect on net profit attributable to shareholders due to the change in accounting policy with respect torecognition of deferred expenditure as an expense in the financial period in which they arise (Note 25).9 DIVIDENDSGroup and Company17 months Financialended year ended31.12.2000 31.7.1999RMRMInterim dividend of 2.5 sen (31.7.1999: 2.5 sen) gross per share,less tax of 28% 4,168,603 4,166,209Special dividend of Nil sen (31.7.1999: 2.5 sen, gross per share,tax exempt) – 5,786,151Proposed final dividend of 5.0 sen gross per share, less tax of 28%(31.7.1999: 2.5 sen gross per share, tax exempt) 8,337,205 5,786,151Overprovision of net final dividend for financial year ended 31 July 1998due to share buyback – (324)Underprovision of net final dividend for financial year ended 31 July 1999due to issuance of ordinary shares on exercise of ESOS 148 –12,505,956 15,738,187At the forthcoming Annual General Meeting on 25 June 2001 and in respect of the financial period of seventeenmonths ended 31 December 2000, a final dividend of 5.0 sen gross per share, less tax of 28% (31.7.1999: 2.5 sengross per share, tax exempt) amounting to RM8,337,205 (31.7.1999: RM5,786,151) will be proposed for approvalby the shareholders.50