30
A
N N U A L
R
E P O R T
2 0 1 5
D
i re c to r s ’
R
epo r t
T
he directors submit their report and the audited
nancial statements of the Group and the Company
for the nancial year ended 30 June 2015.
Principal activities
The principal activities of the Company are that of
investment holding and the provision of management
services. e principal activities of the subsidiaries are
disclosed in Note 10 to the nancial statements.
ere have been no signicant changes in the nature of
these activities during the nancial year.
Financial results
Group
Company
RM
RM
Net prot/(loss) for the year
attributable to owners
of the Company
2,786,864
(162,076)
In the opinion of the directors, the results of the
operations of the Group and the Company during the
nancial year have not been substantially aected by
any item, transaction or event of a material and unusual
nature.
Dividends
Since the end of the previous financial year, the
Company:
(a) paid a nal tax exempt dividend of 6%per ordinary
share of RM0.50 each totalling RM2,399,741 in
respect of the nancial year ended 30 June 2014
on 8 January 2015; and
(b) distributed 3,400,626 treasury shares of RM0.50
each as share dividends to the shareholders of the
Company on the basis of two (2) treasury shares
for every forty ve (45) ordinary shares of RM0.50
each held in the Company on 20 November 2014.
Reserves and provisions
ere were no material transfers to or from reserves or
provisions during the nancial year other than those
disclosed in the nancial statements.
Issue of shares and debentures
During the nancial year, the number of authorised
ordinary shares of the Company was increased from
200,000,000 to 400,000,000 through a share split
exercise involving the subdivision of every one (1)
existing ordinary share of RM0.50 each into two (2)
ordinary shares of RM0.25 each.
e issued and paid up share capital of the Company was
increased fromRM40,000,000 to RM80,000,000 by way
of the issuance of 80,000,000 new ordinary shares of
RM0.50 each pursuant to a bonus issue on the basis of
one (1) bonus share for every one (1) existing share held
as at 24 February 2015. A subsequent share split exercise
involving the subdivision of every one (1) existing
ordinary share of RM0.50 each into two (2) ordinary
shares of RM0.25 each was undertaken to enlarge the
number of ordinary shares in issue from160,000,000 of
RM0.50 each to 320,000,000 of RM0.25 each.
e new ordinary shares issued rank pari passu with the
then existing ordinary shares of the Company.
e Company has not issued any debentures during the
nancial year.
Treasury shares
During the nancial year, the Company:
(a) disposed of 4,499,374 of its treasury shares of
RM0.50 each for a total cash consideration of
RM13,767,380 in the open market;
(b) distributed 3,400,626 treasury shares of RM0.50
each as share dividends to the shareholders of the
Company on the basis of two (2) treasury shares
for every forty ve (45) ordinary shares of RM0.50
each held in the Company; and
(c) repurchased 7,351,000 treasury shares of RM0.25
each for a total cash consideration of RM4,256,378
from the open market.
As at 30 June 2015, the Company held a total of
7,315,000 treasury shares of its 320,000,000 issued
ordinary shares.e treasury shares are held at a carrying
amount of RM4,256,378. e shares repurchased are
being held as treasury shares in accordance with Section
67A(3A)(b) of the Companies Act 1965. Further relevant
details on treasury shares are disclosed in Note 27 to the
nancial statements.
