Sample Disclosure – Different Financial Year End Of Subsidiary In Directors’ Report (1 September 2009)

SUBSIDIARY WITH DIFFERENT FINANCIAL YEAR END

The statutory financial year end of XYZ Subsidiary Trading Ltd., an indirect subsidiary of the Company, does not coincide with the financial year of the Group. However, the Company has consolidated the financial position and results of XYZ Subsidiary Trading Ltd. based on the audited financial statements made up to the financial year of the Group in accordance with the requirements of FRS 127. The Company was granted approval from the Companies Commission of Malaysia pursuant to Section 168(3) of the Companies Act, 1965 for this subsidiary company to continue to adopt the financial year end that does not coincide with the financial year end of the Group.

Sample Disclosure – Change Of Name (27 August 2009)

Change Of Name

Pursuant to the Extraordinary General Meeting of the shareholders held on 3 January 2009, the name of the Company was changed from ABC Sdn. Bhd. to DEF Sdn. Bhd..

Note: This is disclosed in Directors’ Report and Notes to the financial statements. Throughout the Directors’ Report, Statement By Directors, Statutory Declaration by director/officer, Auditors’ Report and Financial Statements including notes, the name of the Company would be presented as “DEF Sdn. Bhd. (formerly known as ABC Sdn. Bhd.)

Sample Disclosure – Significant Event Subsequent To Balance Sheet Date (26 August 2009)

Significant Event Subsequent To The Balance Sheet Date

On 1 January 2009, ABC Sdn. Bhd.  (a wholly owned subsidiary of the Company), increased its issued and fully paid up share capital from RM2 to RM1,000,000 by way of the issuance of 999,998 new ordinary shares of RM1.00 each for a total consideration of RM999,998 for the purpose of increasing the working capital of the subsidiary.

The newly issued shares rank pari passu in all respects with the existing ordinary shares of the subsidiary company.

Sample Disclosure – Financial Results in Directors’ Report (21 August 2009)

FINANCIAL RESULTS

    Group   Company
  RM RM 
Loss for the year:-    
Loss for the year from continuing operations (1,200,000) (1,000,000)
Loss for the year from discontinued operations    (700,000)    –  
  (1,900,000) (1,000,000)

There were no material transfer to or from reserves during the financial year.

In the opinion of the directors, the results and operations of the Group and of the Company during the financial year were not substantially affected by any item, event or transaction of material and unusual in nature except the following:-

(i) the effect arising from review of impairment of property, plant and equipment resulting in an imparment loss of RM800,000 recognised during the financial year.

(ii) the effect arising from the remeasurement of the carrying value of assets of disposal group resulting in remeasurement loss of RM900,000 as disclosed in Note X to the financial statements.

(iii) the effect arising from the review of impairment of investment in subsidiaries of the Company resulting in an imparment loss of RM500,000 recognised during the financial year.

Sample Disclosure – Dividend Declaration in Directors’ Report (18 August 2009)

DIVIDENDS RM
The amounts of dividends paid or declared by the Company since 31 December 2007 were as follows:
In respect of the financial year ended 31 December 2007 as reported in the directors’ report of that year:
Final dividend of 45% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 March 2008 and paid on 1 April 2008 33,750,000
In respect of the financial year ended 31 December 2008:
Interim dividend of 10% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 June 2008 and paid on 10 June 2008 7,500,000

At the forthcoming Annual General Meeting, a final dividend in respect of the financial year ended 31 December 2008, of 30% less 25% taxation on 100,000,000 ordinary shares, amounting to a dividend payable of RM22,500,000 (22.50 cents net per ordinary share) will be proposed for members’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the members of the Company, will be accounted for in equity as an appropriation of accumulated profits in the financial year ending 31 December 2009.