EMBRACING the CHALLENGE
1 PAGE As quoted by Sir Winston Churchill The Pessimist sees the difficulty in every opportunity and the Optimist sees the opportunity in every difficulty. PRINSIPTEK will take the challenges as defining opportunity to reaffirm our commitment to our and organization. While at the same time we will be innovating for our future and strengthening our capacity to deliver our mission and to achieve our vision. We will emphasize on effective management practices, timely delivery of the profit generated projects and coupled with the strategic realignment of resources in order to sustain our core businesses and activities of the. Like the sky-diver, PRINSIPTEK is prepared to embrace the challenges by practicing the Team Operating Principles core values such as communicate with purpose, appreciate and recognize the contributions, respect and care for each other, collaborate with the team members and create a spirited work environment in order to face the future equipped with confidence and solution.
2 PAGE CONTENTS 4 7 8 9 10 13 21 23 28 94 95 96 97 99 CHAIAN S STATEMENT FIVE-YEAR FINANCIAL HIGHLIGHTS CORPORATE STRUCTURE AND PRINCIPAL ACTIVITIES CORPORATE INFOATION PROFILE OF BOARD OF DIRECTORS STATEMENT ON CORPORATE GOVERNANCE STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL AUDIT COMMITTEE REPORT FINANCIAL STATEMENTS STATEMENT OF DIRECTORS RESPONSIBILITY OTHER COMPLIANCE INFOATION LIST OF PROPERTIES ANALYSIS OF SHAREHOLDINGS NOTICE OF ANNUAL GENERAL MEETING PROXY FO
3 PAGE Our Vision TOP 10 CONSTRUCTION COMPANY BY 2017 Key Challenges To achieve a fully Integrated ICT Environment by 2014 To be awarded the Employee of Choice in the construction industry by 2015 Excellence Award by 2016 To achieve a Total Order Book of 1.5 Billion by 2017 Our Mission Our mission is to deliver high quality, cost effective projects on schedule through innovation and excellence project management Team Operating Principles (CARES) COMMUNICATE WITH PURPOSE We will create a result-oriented environment which will encourage openness, honest opinions, creativity and innovation through effective communication. APPRECIATE AND RECOGNIZE contribution and commitment towards achieving the desired and positive outcomes. individuals and teams for their achievements. RESPECT AND CARE through encouragement, support, cooperation and mutual respect amongst all team members. individual, care for one another, promote good mannerism and politeness throughout the organization. EFFECTIVE COLLABORATION WITH SHARED RESPONSIBILITY participation irrespective of what are the situations. one another, take full responsible for action taken, comply to policies, and be fully committed to achieve the current and future goals of the organization. SPIRITED WORK ENVIRONMENT times. be in and an organization to work for, by developing positive attitudes and great understanding amongst all team members.
4 PAGE CHAIAN S STATEMENT On behalf of the Board of Directors of Prinsiptek Corporation Berhad ( PCB ), it is my pleasure and privilege to present the Annual Report and Audited Financial Statements of PCB and its group of companies ( the ) for the financial year ended 31st December 2013 ( FY2013 ). PRINSIPTEK CORPORATION BERHAD (595000-H) Y Bhg Tan Sri Dato Seri Mohamad Noor Abdul Rahim Chairman
CHAIAN S STATEMENT 5 PAGE FINANCIAL PERFOANCE I am pleased to report that the registered a total progress of the work carried out and the commencement of million for the FY2013 as compared to 4.07 million in recognized and the increase of construction costs during OUTLOOK AND PROSPECT The Malaysia economy outlook for year 2013 has been consistently resilient although with the challenges derived from the weak demand in the world trade. The year 2013 Gross Domestic Product growth moderated at the rate of demand in private investment and public consumption as a As at 31st December 2013, the recorded a total of 337.41 million unbilled construction order book. The remains committed and focused in its core business. in the coming future. The construction sector is expected to grow at a strong pace although there is a lower allocation of expenditure by Government of 44.5 billion under the year 2014 Budget for the development programmes and projects. The continuing effort by the government to implement the affordable housing scheme nationwide under the 10th Malaysia Plan and the Economic Transformation Programme, we strongly believe that the construction sector will be remained as the key driver. ANNUAL REPORT 2013 5
6 PAGE CHAIAN S STATEMENT The is also optimistic that the property development sector will continue to be robust as the demand of properties The is placing more emphasis towards the current demand for the Gated and Guarded concept, sustainable design, eco friendly building materials and harmony living environment. rooftop view, has created the right aspiration and interest of property connoisseurs. Besides, the demand of the properties developed by our subsidiary in Ayutthaya, Thailand has been very encouraging too. market worth approximately 540 million. APPRECIATION On behalf of the Board of Directors, I would like to record our appreciation to all management and staff for their customers and suppliers for their unwavering support to the. Last, but not least, my sincere appreciation goes to my fellow board members for their invaluable contributions, advice and guidance throughout the year. Y Bhg Tan Sri Dato Seri Mohamad ad Noor Abdul Rahim Chairman an PRINSIPTEK IPTE CORPORATION ORA ON BERHAD (595000-H) 500 00H 0-H)
FIVE-YEAR FINANCIAL HIGHLIGHTS 7 PAGE REVENUE ( 000) PROFIT/(LOSS) BEFORE TAXATION ( 000) PROFIT/(LOSS) FOR THE YEAR ( 000) 500000 400000 300000 200000 422,603 266,591 181,849 191,926 181,959 7500 5000 2500 0-2500 5,797 5,764 3,888 4,653 2013 2012 2011 2010 2009 6000 4000 2000 0-2000 3,983 4,068 2,556 2,270 2013 2012 2011 2010 2009 100000-5000 -4000 0 2013 2012 2011 2010 2009-7500 -6000-10000 (8,405) -8000-10000 -12500-12000 (10,435) PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS ( 000) GROSS EARNINGS/(LOSS) PER SHARE (sen) NET EARNINGS/(LOSS) PER SHARE (sen) 7500 Basic Basic 5000 2500 4,545 3,802 3,353 2,268 6 4 Diluted 4.57 4.55 3.07 3.67 6 4 Diluted 3.59 3.00 2.64 0 2013 2012 2011 2010 2009 2 2 1.79-2500 0 2013 2012 2011 2010 2009 0 2013 2012 2011 2010 2009-5000 -2-2 -7500-4 -4-10000 (9,039) -6-8 (6.63) -6-8 (7.04) ANNUAL REPORT 2013
8 PAGE CORPORATE STRUCTURE AND PRINCIPAL ACTIVITIES (595000-H) 100% MAGNIFICIENT 91% DEGREE PRINSIPTEK SDN BHD INTERNATIONAL LIMITED 100% TANAH PERANGSANG SDN BHD 70% ANTARA MURNI DEVELOPMENT SDN BHD 100% PRINSIPTEK (M) SDN BHD 100% PRINSIPTEK PROPERTIES SDN BHD 100% GABUNGAN SANJUNG SDN BHD 100% SEKINCHAN JAYA SDN BHD * 70% PRINSIPTEK BINA SDN BHD * 60% PRINSIPTEK THAI LIMITED 100% JERAM PERWIRA SDN BHD 100% PENTALAND SDN BHD 67% PAN REKAJAYA SDN BHD * 100% NBL LAND DEVELOPMENT SDN BHD 100% SOLIDVEST PROPERTIES SDN BHD 100% LKD TRADING SDN BHD 100% PST CONCRETE SDN BHD * 100% ESA PILE SDN BHD PRINCIPAL ACTIVITY INVESTMENT HOLDING CONSTRUCTION PROPERTY DEVELOPMENT TRADING PROVISION OF PROJECT MANAGEMENT & SECRETARIAL SERVICES * DOANT IN THE PROCESS OF STRIKING-OFF PRINSIPTEK CORPORATION BERHAD (595000-H)
CORPORATE INFOATION 9 PAGE BOARD OF DIRECTORS Independent Non-Executive Chairman Managing Director Executive Director Foo Chu Pak Independent Non-Executive Director Y Bhg Datin Paduka Low Siew Moi (Appointed on 11 July 2013) SHARE REGISTRARS Mega Corporate Services Sdn Bhd Level 15-2, Bangunan Faber Imperial Court 50250 Kuala Lumpur, Malaysia AUDITORS Morison Anuarul Azizan Chew 51200 Kuala Lumpur, Malaysia AUDIT COMMITTEE Chairman Members Y Bhg Datin Paduka Low Siew Moi (Appointed on 11 July 2013) NOMINATION COMMITTEE Chairman Y Bhg Datin Paduka Low Siew Moi (Appointed on 11 July 2013) Members REGISTERED OFFICE Selangor Darul Ehsan, Malaysia PRINCIPAL BANKERS Malayan Banking Berhad Public Bank Berhad Bank Kerjasama Rakyat Malaysia Berhad STOCK EXCHANGE LISTING Main Market of Bursa Malaysia Securities Berhad Stock Name : PSIPTEK Stock Code : 7145 Sector : Construction REMUNERATION COMMITTEE Chairman Members COMPANY SECRETARIES WEBSITE www.prinsiptek.com EMAIL ADDRESS prinsiptek@prinsiptek.com ANNUAL REPORT 2013
10 PAGE PROFILE OF BOARD OF DIRECTORS Y BHG TAN SRI DATO SERI MOHAMAD NOOR ABDUL RAHIM Independent Non-Executive Chairman Y BHG DATO FOO CHU JONG Managing Director PRINSIPTEK CORPORATION BERHAD (595000-H)
PROFILE OF BOARD OF DIRECTORS 11 PAGE FOO CHU PAK Executive Director Y BHG DATIN PADUKA LOW SIEW MOI Independent Non-Executive Director (Appointed on 11 July 2013) ANNUAL REPORT 2013
12 PAGE PROFILE OF BOARD OF DIRECTORS Y BHG TO PUAN SERI HAJJAH NUR RAHMAH BINTI HJ MOHD ZAIN Independent Non-Executive Director PRINSIPTEK CORPORATION BERHAD (595000-H)
STATEMENT ON CORPORATE GOVERNANCE 13 PAGE A. ROLES AND RESPONSIBILITIES OF THE BOARD COMPOSITION OF THE BOARD AND BOARD BALANCE ANNUAL REPORT 2013
14 PAGE STATEMENT ON CORPORATE GOVERNANCE APPOINTMENT TO THE BOARD RE-ELECTION OF DIRECTORS BOARD MEETINGS Directors Number of Meetings Percentage of Attended Attendance (Appointed on 11 July 2013) PRINSIPTEK CORPORATION BERHAD (595000-H)
STATEMENT ON CORPORATE GOVERNANCE 15 PAGE COMPANY SECRETARY DIRECTORS TRAINING Name of Directors Training programme attended Date attended (Appointed on 11 July 2013) SUPPLY OF INFOATION ANNUAL REPORT 2013
16 PAGE STATEMENT ON CORPORATE GOVERNANCE COMMITTEES OF THE BOARD (Appointed on 11 July 2013) PRINSIPTEK CORPORATION BERHAD (595000-H)
STATEMENT ON CORPORATE GOVERNANCE 17 PAGE B. DIRECTORS REMUNERATION Total 1,700,056 111,632 1,811,688 Range of Remuneration Number of Executive Directors Number of Non-Executive Directors C. SHAREHOLDERS DIALOGUE BETWEEN COMPANY AND INVESTORS ANNUAL REPORT 2013
18 PAGE STATEMENT ON CORPORATE GOVERNANCE ANNUAL GENERAL MEETING D. ACCOUNTABILITY AND AUDIT FINANCIAL REPORTING INTERNAL CONTROL RELATIONSHIP WITH THE AUDITORS E. CORPORATE SOCIAL RESPONSIBILITY PRINSIPTEK CORPORATION BERHAD (595000-H)
STATEMENT ON CORPORATE GOVERNANCE 19 PAGE BUSINESS GOVERNANCE ETHICS ENVIRONMENTAL, OCCUPATIONAL HEALTH AND SAFETY OBJECTIVES, PROGRAMS AND TARGETS ANNUAL REPORT 2013
20 PAGE STATEMENT ON CORPORATE GOVERNANCE COMMUNITY COMPLIANCE STATEMENT PRINSIPTEK CORPORATION BERHAD (595000-H)
STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL 21 PAGE INTRODUCTION THE RISK MANAGEMENT PROCESS ANNUAL REPORT 2013
22 PAGE STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL INTERNAL AUDIT FUNCTIONS AND EFFECTIVENESS OF INTERNAL CONTROL PRINSIPTEK CORPORATION BERHAD (595000-H)
AUDIT COMMITTEE REPORT 23 PAGE FOATION MEMBERS (Appointed on 11 July 2013) MEETINGS AND ATTENDANCE AC Members Number of Percentage of Meetings Attended Attendance (Appointed on 11 July 2013) TES OF REFERENCE 1. OBJECTIVES ANNUAL REPORT 2013
24 PAGE AUDIT COMMITTEE REPORT 4. KEY FUNCTIONS AND RESPONSIBILITIES PRINSIPTEK CORPORATION BERHAD (595000-H)
AUDIT COMMITTEE REPORT 25 PAGE 5. MEETINGS ANNUAL REPORT 2013
26 PAGE AUDIT COMMITTEE REPORT 6. COMPLIANCE SUMMARY OF ACTIVITIES EMPLOYEES SHARE ISSUANCE SCHEME PRINSIPTEK CORPORATION BERHAD (595000-H)
AUDIT COMMITTEE REPORT 27 PAGE Grant Date/ No. of No. of No. of Year End Granted Exercised Out-standing TOTAL : Maximum Grant Date/ options for the granted for the INTERNAL AUDIT FUNCTION AND SUMMARY OF ACTIVITIES ANNUAL REPORT 2013
DIRECTORS REPORT PRINCIPAL ACTIVITIES FINANCIAL RESULTS Company DIVIDEND RESERVES AND PROVISIONS ISSUE OF SHARES AND DEBENTURES OPTIONS GRANTED OVER UNISSUED SHARES
DIRECTORS REPORT EMPLOYEES SHARE OPTION SCHEME DIRECTORS DIRECTORS INTERESTS Number of ordinary shares of 0.50 each At At 1.1.2013 Acquired Disposed 31.12.2013 Prinsiptek Corporation Berhad Direct interest Indirect interest (1) Number of options over ordinary shares of 0.50 each ( ESOS ) At At 1.1.2013 Granted Exercised 31.12.2013 Prinsiptek Corporation Berhad
DIRECTORS REPORT DIRECTORS BENEFITS OTHER STATUTORY INFOATION
DIRECTORS REPORT AUDITORS DATO FOO CHU JONG FOO CHU PAK
STATEMENT BY DIRECTORS DATO FOO CHU JONG FOO CHU PAK STATUTORY DECLARATION
INDEPENDENT AUDITORS REPORT REPORT ON THE FINANCIAL STATEMENTS DIRECTORS RESPONSIBILITY FOR THE FINANCIAL STATEMENTS AUDITORS RESPONSIBILITY OPINION
INDEPENDENT AUDITORS REPORT REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS OTHER MATTERS MORISON ANUARUL AZIZAN CHEW TAN POH LING
STATEMENTS OF FINANCIAL POSITION Company 2013 2012 2013 2012 Note Non-Current Assets Current Assets Current Liabilities
STATEMENTS OF FINANCIAL POSITION Company 2013 2012 2013 2012 Note Financed By: Non-Current Liabilities
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Company 2013 2012 2013 2012 Note Net profit for the financial year Other comprehensive income: Items to be reclassified to profit or loss in subsequent periods Total comprehensive income for the financial year 2013 2012 Note
STATEMENTS OF CHANGES IN EQUITY Attributable to Equity Holders of the Company Non-Distributable Distributable Non- Share Share Exchange Capital Retained Controlling Total Capital Premium Reserve Reserve Profits Total Interests Equity
STATEMENTS OF CHANGES IN EQUITY Attributable to Equity Holders of the Company Non-Distributable Distributable Non- Share Share Exchange Capital Retained Controlling Total Capital Premium Reserve Reserve Profits Total Interests Equity
STATEMENTS OF CHANGES IN EQUITY Non- Distributable Share Share Accumulated Capital Premium Losses Total Company
STATEMENTS OF CASH FLOWS Company 2013 2012 2013 2012 Note Cash Flows From Operating Activities
STATEMENTS OF CASH FLOWS Company 2013 2012 2013 2012 Note Cash Flows From Investing Activities Cash Flows From Financing Activities
STATEMENTS OF CASH FLOWS Company 2013 2012 2013 2012 Note Net increase/(decrease) in cash and cash equivalents Effects of foreign exchange rate changes Cash and cash equivalents at beginning of the financial year Cash and cash equivalents at end of the financial year
NOTES TO THE FINANCIAL STATEMENTS 1. CORPORATE INFOATION 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (a) Basis of accounting Effective date for financial periods beginning on or after
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (a) Basis of accounting (cont d) Effective date for financial periods beginning on or after FRSs MFRSs (b) Functional and presentation currency (c) Significant accounting estimates and judgements
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (c) Significant accounting estimates and judgements (cont d) (i) (ii) Depreciation of property, plant and equipment Estimation of fair value of properties (iii) (iv) (v) Property development costs Impairment of goodwill on consolidation Construction contracts
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (c) Significant accounting estimates and judgements (cont d) (vi) Income taxes (vii) Classification of financial assets (d) Basis of consolidation (i) Subsidiary companies
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (d) Basis of consolidation (cont d) (ii) (iii) (iv) Transactions eliminated on consolidation Changes in composition Non-controlling interest (e) Property, plant and equipment (i) Recognition and measurement
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (e) Property, plant and equipment (cont d) (i) (ii) (iii) Recognition and measurement (cont d) Subsequent costs Depreciation (f) Goodwill or reserve arising on consolidation
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (f) (g) (h) Goodwill or reserve arising on consolidation (cont d) Impairment of non-financial assets Land held for property development
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (i) (j) (k) Property development costs Construction contracts Inventories
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (l) Cash and cash equivalents (m) Lease and hire purchase (n) (o) Borrowings Borrowing costs
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (p) (q) (r) Provisions for liabilities Equity instruments Foreign currencies (i) (ii) Foreign currency transactions and balances Foreign operations
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (r) Foreign currencies (cont d) (ii) Foreign operations (cont d) 2013 2012 (s) Financial assets (i) (ii) (iii) Financial assets at fair value through profit or loss Loans and receivables Held-to-maturity investments
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (s) Financial assets (cont d) (iv) Available-for-sale financial assets (t) (u) Impairment of financial assets Financial liabilities
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (u) Financial liabilities (cont d) (v) Revenue recognition (i) (ii) (iii) (iv) (v) Property development Construction contracts Goods sold and services rendered Interest income Dividend income (w) Employee benefits (i) Short term employee benefits
NOTES TO THE FINANCIAL STATEMENTS 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (cont d) (w) Employee benefits (cont d) (ii) (iii) Defined contribution plans Employees Share Option Scheme ( ESOS ) (x) (y) Income taxes Segment reporting
NOTES TO THE FINANCIAL STATEMENTS 3. PROPERTY, PLANT AND EQUIPMENT Freehold and Office and leasehold Furniture Tools and Motor electrical Plant and land Buildings Computers and fittings instruments vehicles equipment machinery Renovation Total Cost Accumulated depreciation Carrying amount
NOTES TO THE FINANCIAL STATEMENTS 3. PROPERTY, PLANT AND EQUIPMENT (cont d) Freehold and Office and leasehold Furniture Tools and Motor electrical Plant and land Buildings Computers and fittings instruments vehicles equipment machinery Renovation Total Cost Accumulated depreciation Carrying amount
NOTES TO THE FINANCIAL STATEMENTS 3. PROPERTY, PLANT AND EQUIPMENT (Cont d) Company Computers Total Cost Accumulated depreciation Carrying amount Cost Accumulated depreciation Carrying amount 4. LAND AND PROPERTY DEVELOPMENT COSTS 2013 2012 Non-Current
NOTES TO THE FINANCIAL STATEMENTS 4. LAND AND PROPERTY DEVELOPMENT COSTS (Cont d) 2013 2012 Current 2013 2012 Note
NOTES TO THE FINANCIAL STATEMENTS 5. INVESTMENT IN SUBSIDIARY COMPANIES Company 2013 2012 2013 2012 Name of company Country of Effective Principal activities incorporation interest 2013 2012 % % Direct holding: Indirect holding:
NOTES TO THE FINANCIAL STATEMENTS 5. INVESTMENT IN SUBSIDIARY COMPANIES (cont d) Name of company Country of Effective Principal activities incorporation interest 2013 2012 % % Indirect holding:
NOTES TO THE FINANCIAL STATEMENTS 5. INVESTMENT IN SUBSIDIARY COMPANIES (cont d) 2013 2013 6. INTANGIBLE ASSETS 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 7. TRADE RECEIVABLES 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 8. OTHER INVESTMENTS Company 2013 2012 2013 2012 Current 9. INVENTORIES 2013 2012 At cost 10. OTHER RECEIVABLES Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 11. AMOUNT OWING BY/(TO) CUSTOMERS ON CONTRACTS 2013 2012 2013 2012 Note 12. AMOUNT OWING BY/(TO) SUBSIDIARY COMPANIES 13. CASH HELD UNDER HOUSING DEVELOPMENT ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS 14. FIXED DEPOSITS WITH LICENSED BANKS 15. TRADE PAYABLES 2013 2012 16. OTHER PAYABLES Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 17. HIRE PURCHASE PAYABLES 2013 2012 18. BANK BORROWINGS Company 2013 2012 2013 2012 Secured Total bank borrowings
NOTES TO THE FINANCIAL STATEMENTS 18. BANK BORROWINGS (cont d) Company 2013 2012 2013 2012 Repayable within twelve months Secured Repayable after twelve months Secured
NOTES TO THE FINANCIAL STATEMENTS 18. BANK BORROWINGS (cont d) Company 2013 2012 2013 2012 Company 2013 2012 2013 2012 % % % % 19. SHARE CAPITAL /Company 2013 2012 2013 2012 Number of Ordinary Shares Authorised Issued and fully paid
NOTES TO THE FINANCIAL STATEMENTS 20. RESERVES 2013 2012 21. DEFERRED TAX LIABILITIES 2013 2012 Accelerated capital allowances
NOTES TO THE FINANCIAL STATEMENTS 21. DEFERRED TAX LIABILITIES (cont d) Accelerated capital allowances 2013 2012 22. REVENUE Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 23. FINANCE COSTS Company 2013 2012 2013 2012 Note 24. PROFIT BEFORE TAXATION Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 24. PROFIT BEFORE TAXATION (cont d) Company 2013 2012 2013 2012 25. TAXATION Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 25. TAXATION (cont d) Company 2013 2012 2013 2012 26. EARNINGS PER SHARE 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 27. PURCHASE OF PROPERTY, PLANT AND EQUIPMENT 2013 2012 28. STAFF COSTS 2013 2012 Note 29. EMPLOYEES SHARE OPTION SCHEME
NOTES TO THE FINANCIAL STATEMENTS 29. EMPLOYEES SHARE OPTION SCHEME (cont d) Number of share options At At Exercisable at 1 January Granted Exercised Lapsed 31 December 31 December 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 29. EMPLOYEES SHARE OPTION SCHEME (cont d) Share Options Exercise price Exercise Period 2013 2012 30. FINANCIAL INSTRUMENTS
NOTES TO THE FINANCIAL STATEMENTS 30. FINANCIAL INSTRUMENTS (cont d) Financial Assets/(Liabilities) Held in Non-Functional Currency Functional Currency Ringgit United States Malaysia Dollar Total 2013 Bank borrowing 2012 Bank borrowing Company 2013 Amount owing by subsidiary company 2012 Amount owing by/(to) subsidiary company 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 30. FINANCIAL INSTRUMENTS (cont d) Company 2013 2012 2013 2012 Fixed rate instruments Floating rate instruments 2013 2012 Profit net of tax
NOTES TO THE FINANCIAL STATEMENTS 30. FINANCIAL INSTRUMENTS (cont d) 2013 2012 By country: By industry sectors: On demand or within One to Over one year five years five years Total 2013
NOTES TO THE FINANCIAL STATEMENTS 30. FINANCIAL INSTRUMENTS (cont d) On demand or within One to Over one year five years five years Total 2012 On demand or within One to one year five years Total Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 30. FINANCIAL INSTRUMENTS (cont d) Gross amount of recognised Net amount financial of financial assets liabilities set off presented Gross amount in the in the of recognised statements of statements of financial financial financial liabilities position position 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 31. CONTINGENT LIABILITIES Company 2013 2012 2013 2012 32. CAPITAL COMMITMENTS 2013 2012 33. NON-CANCELLABLE OPERATING LEASE COMMITMENTS 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 34. SEGMENT INFOATION - GROUP Property Trading Construction Development and others Elimination Total 2013 Revenue Results Assets Liabilities Other information
NOTES TO THE FINANCIAL STATEMENTS 34. SEGMENT INFOATION - GROUP (cont d) Property Trading Construction Development and others Elimination Total 2012 Revenue Results Assets Liabilities Other information 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 34. SEGMENT INFOATION - GROUP (cont d) 2013 2012 2013 2012 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 34. SEGMENT INFOATION - GROUP (cont d) 35. RELATED PARTY DISCLOSURES 2013 2012 Company Company 2013 2012 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 35. RELATED PARTY DISCLOSURES Number of share options Movement during the financial year Outstanding Outstanding Exercisable at at at 1 January Granted Exercised Lapsed 31 December 31 December 2013 2012
NOTES TO THE FINANCIAL STATEMENTS 36. CAPITAL MANAGEMENT Company 2013 2012 2013 2012 37. MFRSs AND IC INTERPRETATION NOT YET ADOPTED
NOTES TO THE FINANCIAL STATEMENTS 38. RETAINED PROFITS/(ACCUMULATED LOSSES) 2013 2012 Company 2013 2012 39. DATE OF AUTHORISATION FOR ISSUE
STATEMENT OF DIRECTORS RESPONSIBILITY IN RESPECT OF THE AUDITED FINANCIAL STATEMENTS
OTHER COMPLIANCE INFOATION 1. Utilisation of Proceeds 2. Share Buy-backs 3. Options, Warrants or Convertible Securities 4. Depository Receipt ( DR ) Programme 5. Imposition of Sanctions and/or Penalties 6. Non-audit Fees 7. Variation in Results 8. Profit Guarantee 9. Material Contracts 10. Recurrent Related Party Transactions of Revenue or Trading Nature ( RRPT )
LIST OF PROPERTIES
ANALYSIS OF SHAREHOLDINGS DISTRIBUTION OF SHAREHOLDINGS No. of Total Category of Shareholders Shareholders % Shareholdings % Total 3,322 100.00 126,782,744 100.00 SUBSTANTIAL SHAREHOLDERS (as per the Company s Register of Substantial Shareholders) No. of Shares Held Name Direct % Indirect % DIRECTORS SHAREHOLDINGS (as per the Company s Register of Directors Shareholdings) No. of Shares Held Name Direct % Indirect %
ANALYSIS OF SHAREHOLDINGS THIRTY (30) LARGEST SHAREHOLDERS No. of Name Shares Held % Total 85,632,200 67.54
NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT Ordinary Business Resolution 1 Resolution 2 Resolution 3 Resolution 4 Special Business To consider, and if thought fit, to pass with or without modifications, the following ordinary resolutions: Resolution 5 6. Authority to Issue Shares THAT AND THAT Resolution 6 Any Other Business PRINSIPTEK CORPORATION BERHAD LIM SECK WAH (MAICSA 0799845) TEOH YEE SHIEN (MIA 9662)
NOTICE OF ANNUAL GENERAL MEETING Notes:- Appointment of Proxy Explanatory Notes to Special Business 1. Resolution 5 2. Resolution 6 General Meeting Record of Depositors
(595000-H) No. 83 & 85, Jalan SS15/4C, 47500 Subang Jaya, Selangor Darul Ehsan, Malaysia. Tel : 603-5629 2600 Fax : 603-5635 1802 Email : prinsiptek@prinsiptek.com Website : www.prinsiptek.com Facebook : www.facebook.com/prinsiptek