ENGTEX GROUP Reports 2013.pdf• Engtex Marketing Sdn Bhd • Eng...

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  • ENGTEX GROUP BERHAD(Company No. : 536693-X)

    ENGTEX GROUP BERHAD(Company No. : 536693-X)

    Lot 36, Jalan BRP 9/2B, Putra Industrial Park,Bukit Rahman Putra,47000 Sungai Buloh, Selangor Darul Ehsan.

    Tel : 603-6140 1111Fax : 603-6157 0348Email : enquiry@engtex.com.myWebsite : www.engtex.com.my

    EN

    GTE

    X G

    RO

    UP

    BE

    RH

    AD

    (Co

    mp

    any No

    . : 5366

    93-X

    )A

    nnual Rep

    ort 20

    13

    annual report

    2013

  • CONTENTS

    Overview of Group Principal Activities

    Corporate Structure

    Financial Highlights

    Corporate Information

    Chairmans Statement

    Directors Profile

    Audit Committee Report

    Statement on Corporate Governance

    Statement on Risk Management and Internal Control

    Financial Statements

    List of Properties

    Analysis of Shareholdings

    Analysis of Warrantholdings

    Notice of Annual General Meeting

    Proxy Form

    2

    3

    4

    5

    6

    9

    11

    15

    29

    31

    107

    115

    117

    119

  • ENGTEX GROUP BERHAD

    WHOLESALE AND DISTRIBUTION

    MANUFACTURING PROPERTY DEVELOPMENT

    OTHERS

    Domino Technology Sdn Bhd Engtex Project Management Sdn Bhd Swiss Mission Sdn Bhd Engtex Leisure Sdn Bhd Ivory Benefi t Sdn Bhd Majestic Genius Sdn Bhd Engtex (Sarawak) Sdn Bhd Gurney Streams Sdn Bhd Tiara Mission Sdn Bhd

    Ductile Iron Pipes

    Engtex Ductile Iron Pipe Industry Sdn Bhd

    Mild Steel Cement-Lined Pipes & Fittings

    Allpipes Technology Sdn Bhd Engtex Pipe Industry Sdn Bhd Canova Manufacturing Sdn Bhd

    Valves, Hydrants, Fittings & Manhole Covers

    LYE Manufacturing Sdn Bhd

    Wire Mesh & Hard Drawn Wire

    Engtex Metals Sdn Bhd East Coast Manufacturing Sdn Bhd Apsonic Sdn Bhd EngLen Manufacturing Sdn Bhd

    Steel & Hardware Products

    Hachita Enterprise Sdn Bhd Engtex Industries Sdn Bhd Engtex Water Solutions Sdn Bhd

    Pipes, Valves, Fittings, Plumbing Materials, Construction Materials, General Hardware Products and Bitumen Materials

    Engtex Sdn Berhad Benton Corporation Sdn Bhd Mega Alliance Builder Supplies Sdn Bhd Engtex Marketing Sdn Bhd Eng Lian Hup Trading Sdn Bhd LYE Marketing Sdn Bhd Engtex Ductile Iron Marketing Sdn Bhd Engtex (S) Pte. Ltd. Nagasari Bitumen Products Sdn Bhd

    Steel Products

    ELH Hardware Sdn Bhd East Coast Metals Sdn Bhd EngLen Metals Sdn Bhd Engtex Metal Products Sdn Bhd Engtex Wire Industries Sdn Bhd

    Engineering Tools and Machinery, Food Processing Machinery and Kitchen Equipment

    Wiki Pratama Sdn Bhd

    Engtex Properties Sdn Bhd Alimach Holdings Sdn Bhd Engtex Emerald Sdn Bhd Engtex Platinum Sdn Bhd Ivory Progression Sdn Bhd Blue Legacy Sdn Bhd

    ENGTEX GROUP BERHAD I ANNUAL REPORT 20132

    OVERVIEW OF GROUP PRINCIPAL ACTIVITIES

  • ENGTEX GROUP BERHAD

    WHOLESALE & DISTRIBUTION

    MANUFACTURING

    PROPERTY DEVELOPMENT

    OTHERS

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    100%

    94%

    100%

    71%

    100%

    100%

    100%

    88.54%

    100%

    100%

    100%

    100%

    100%

    100%

    91%

    100%

    60%

    60%

    60%

    100%

    100%

    60%

    Engtex Sdn Berhad

    Engtex MetalsSdn Bhd

    Eng Lian Hup Trading Sdn Bhd

    Apsonic Sdn Bhd

    Engtex Metal Products Sdn Bhd

    Engtex Marketing Sdn Bhd

    ELH Hardware Sdn Bhd

    Engtex Industries Sdn Bhd

    LYE Marketing Sdn Bhd

    Engtex Project Management Sdn Bhd

    Benton CorporationSdn Bhd

    LYE ManufacturingSdn Bhd

    Engtex (S) Pte. Ltd.

    Mega Alliance Builder Supplies Sdn Bhd

    Canova Manufacturing Sdn Bhd

    Wiki Pratama Sdn Bhd

    Domino TechnologySdn Bhd

    Hachita Enterprise Sdn Bhd

    Engtex Pipe Industry Sdn Bhd

    Allpipes TechnologySdn Bhd

    Nagasari Bitumen Products Sdn Bhd

    Engtex Emerald Sdn Bhd

    Alimach Holdings Sdn Bhd

    Engtex Properties Sdn Bhd

    Engtex Ductile Iron Marketing Sdn Bhd

    Engtex Platinum Sdn Bhd

    Engtex Ductile Iron Pipe Industry Sdn Bhd

    Engtex Water SolutionsSdn Bhd

    East Coast Metals Sdn Bhd

    East Coast Manufacturing Sdn Bhd

    EngLen Metals Sdn Bhd

    Engtex Wire Industries Sdn Bhd

    Ivory Progression Sdn Bhd

    Blue Legacy Sdn Bhd 40%

    100%

    100%

    100%

    100%

    60%

    100%

    100%

    100%

    Engtex Leisure Sdn Bhd

    Gurney Streams Sdn Bhd

    Engtex (Sarawak) Sdn Bhd

    Tiara Mission Sdn Bhd

    EngLen ManufacturingSdn Bhd

    Majestic Genius Sdn Bhd

    Ivory Benefit Sdn Bhd

    Swiss Mission Sdn Bhd

    ENGTEX GROUP BERHAD I ANNUAL REPORT 2013 3

    CORPORATE STRUCTUREas at 31 March 2014

  • 2009 2010 2011 2012 2013

    2009 2010 2011 2012 2013

    2009 2010 2011 2012 2013

    2009 2010 2011 2012 2013

    599.8

    227.6

    22.8

    480.5

    680.1

    257.1

    34.2

    547.9

    793.6

    286.3

    34.8

    712.1

    920.5

    1,090.4

    312.5

    359.6

    29.2

    51.2

    774.0

    935.5

    1100.0

    1000.0

    900.0

    800.0

    700.0

    600.0

    500.0

    400.0

    300.0

    200.0

    100.0

    0

    400

    350

    300

    250

    200

    150

    100

    50

    0

    1,000

    900

    800

    700

    600

    500

    400

    300

    200

    100

    0

    60.0

    50.0

    40.0

    30.0

    20.0

    10.0

    0.0

    REVENUERM Million

    SHAREHOLDERS FUNDS(attributable to owners of the Company)RM Million

    PROFIT AFTER TAXATION(attributable to owners of the Company)RM Million

    TOTAL ASSETSRM Million

    5-YEAR FINANCIAL HIGHLIGHTS 2009 2010 2011 2012 2013KEY FINANCIAL DATA RM'000 RM'000 RM'000 RM'000 RM'000

    Revenue 599,769 680,090 793,591 920,458 1,090,375 Profi t before taxation 30,291 44,981 48,214 42,023 71,318 Profi t for the year attributable to owners of the Company 22,771 34,178 34,831 29,170 51,220 Total assets 480,536 547,939 712,059 773,958 935,530 Share capital 99,000 99,000 99,000 99,000 99,005 Retained earnings 115,524 148,939 181,637 207,983 256,404 Total equity attributable to owners of the Company 227,574 257,105 286,334 312,504 359,627

    SHARE INFORMATION

    Basic earnings per share (sen) 11.66 17.56 18.36 15.49 27.39 Gross dividends per share (sen) 0.75 1.00 1.50 2.00 1.50 *Dividends pay-out (RM000) 1,104 1,472 2,133 2,824 2,799 Net assets per share (RM) 1.19 1.35 1.51 1.65 1.90

    * denotes single tier

    ENGTEX GROUP BERHAD I ANNUAL REPORT 20134

    FINANCIAL HIGHLIGHTS

  • Dato Ismail Bin HamzahChairman - IndependentNon-Executive Director

    Dato Ng HookGroup Managing Director - Non-Independent Executive Director

    AUDIT COMMITTEE

    Dato Ismail Bin HamzahChairman - Independent Non-Executive Director

    Dr. Teh Chee GheeMember - Independent Non-Executive Director

    Chin Mee FoonMember - Independent Non-Executive Director

    NOMINATIONCOMMITTEE

    Dato Ismail Bin HamzahChairman - Independent Non-Executive Director

    Dr. Teh Chee GheeMember - Independent Non-Executive Director

    Chin Mee FoonMember - Independent Non-Executive Director

    BOARD OF DIRECTORS

    STOCK EXCHANGE LISTING

    Main Market Of Bursa MalaysiaSecurities Berhad

    Stock Name : ENGTEX / ENGTEX-WAStock Code : 5056 / 5056 WASector : Trading / Services

    COMPANY SECRETARIES

    Khoo Chong Keong(MICPA 2940)

    Lim Seck Wah(MAICSA 0799845)

    Tang Chi Hoe (Kevin)(MAICSA 7045754)

    AUDITOR

    KPMGLevel 10, KPMG Tower8, First Avenue, Bandar Utama47800 Petaling Jaya, SelangorTel : 603-7721 3388Fax : 603-7721 3399

    PRINCIPAL BANKERS

    Hong Leong Bank BerhadPublic Bank BerhadAmBank (M) BerhadMalayan Banking BerhadRHB Bank Berhad

    Ng Chooi GuanNon-Independent Executive Director

    Datin Yap Seng KuanNon-Independent Executive Director

    Ng Yik SoonNon-Independent Executive Director

    Chin Mee FoonIndependent Non-Executive Director

    Dr. Teh Chee GheeIndependent Non-Executive Director

    REMUNERATIONCOMMITTEE

    Dato Ismail Bin HamzahChairman - Independent Non-Executive Director

    Dato Ng HookMember - Group Managing DirectorNon-Independent Executive Director

    Chin Mee FoonMember - Independent Non-Executive Director

    REGISTERED OFFICE

    Lot 36, Jalan BRP 9/2BPutra Industrial ParkBukit Rahman Putra47000 Sungai BulohSelangor Darul EhsanTel : 603-6140 1111Fax : 603-6157 0348E-mail : enquiry@engtex.com.my

    SHARE REGISTRARS

    Mega Corporate ServicesSdn Bhd

    Level 15-2Bangunan Faber Imperial CourtJalan Sultan Ismail50250 Kuala LumpurTel : 603-2692 4271Fax : 603-2732 5388

    ENGTEX GROUP BERHAD I ANNUAL REPORT 2013 5

    CORPORATE INFORMATION

  • Dear Shareholders,On behalf of the Board of Directors of Engtex Group Berhad, I have pleasure in presenting the Annual Report and Financial Statements of Engtex Group Berhad and its subsidiaries (Group) for the financial year ended 31 December 2013.

    FINANCIAL PERFORMANCE

    The Group achieved a new historical milestone with a net revenue of RM1,090.4 million for the fiscal year 2013. This represented an increase of 18.5% over the net revenue of RM920.5 million recorded in 2012. The pre-tax profit of RM71.3 million in 2013 was 69.7% higher than RM42.0 million recorded in 2012. The increase in net revenue and pre-tax profit was mainly due to the sustainable market demand of certain metal-related trading products and manufactured steel products.

    EARNINGS PER SHARE AND DIVIDEND