FINANCIAL STATEMENTS fileY028-15/9246(14)/SURIATI Company No: 257004-W No director has, since the...

ONEKINABALU HOLDINGS SDN BHD (257004-W)

(Incorporated In Malaysia)

FINANCIAL STATEMENTS

31ST

DECEMBER 2014

----------------------------------------------------------

YONG NG & CO PLT (LLP0001093-LCA)

CHARTERED ACCOUNTANTS AF 0368

P. O. BOX 16640, 88871 KOTA KINABALU SABAH

TEL : 088-242091, 241091

FAX : 088-233795

e-mail : [email protected]

Y028-15/9246(14)/SURIATI

Company No:

257004-W



REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST

DECEMBER 2014

CONTENTS PAGES

Corporate Information 1

Directors’ Report 2-5

Statement by Directors 6

Statutory Declaration 6

Auditors’ Report 7-8

Balance Sheet 9

Income Statement 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Financial Statements 13-19

Y028-15/9246(14)/SURIATI

Company No:

257004-W



CORPORATE INFORMATION

Board of Directors : Buvil Bin Angkui

Mat Salleh @ Awang Sapong Bin Sapong

Sulaiman Bin Awang

Saat Bin Ag Damit

Company Secretary : Chan Man Kit

(MIA 5212)

Registered Office : 1st Floor, Lot 13, Block J,

Phase 2, Inanam Commercial Centre,.

88450 Inanam, Sabah

Auditors : Yong Ng & Co PLT

(LLP0001093-LCA)

Chartered Accountants

AF 0368

Lot 62, 2nd

Floor,

Block G, Asia City,

P. O. Box 16640, 88871

Kota Kinabalu, Sabah.

Date of Incorporation : 2nd

April 1998

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Company No:

257004-W



DIRECTORS’ REPORT

The directors hereby submit their report together with the audited financial statements of the

Company for the financial year ended 31st December 2014.

PRINCIPAL ACTIVITY

The Company ceased business operation in 2009.

FINANCIAL RESULTS

RM

Net loss for the year before taxation (6)

Taxation -

---------------

Net loss for the year after taxation

Adjustment (Note 14)

(6)

(60,000)

Accumulated loss brought forward (5,151,264)

---------------

Accumulated loss carried forward (5,211,270)

=========

DIRECTORS

The directors who held office during the year since the date of the last report are : -

Buvil Bin Angkui

Mat Salleh @ Awang Sapong Bin Sapong

Sulaiman Bin Awang

Saat Bin Ag Damit

In accordance with Article No. 63 & 64 of the Articles of Association, Buvil Bin Angkui shall retire

from the board at the forthcoming annual general meeting, and, being eligible offer himself for

re-election.

DIRECTORS’ BENEFITS

During and at the end of the financial year, no arrangements subsisted to which the Company is a

party, with the object or objects of enabling directors of the Company to acquire benefits by means

of the acquisition of shares or debentures of the company or any other body corporate.

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Company No:

257004-W

No director has, since the end of the previous financial year, received or become entitled to receive a

benefit by reason of a contract made by the Company or a related corporation with the director or

with a firm of which the director is a member, or with a company in which the director has a

substantial financial interest required to be disclosed by Section 169(8) of the Companies Act, 1965.

DIRECTORS’ INTERESTS

According to the register of directors’ shareholding, the interests of directors in office at the end of

the financial year in the ordinary shares of the Company are as follows : -

Number of ordinary shares of RM1 each in the Company

As At As At

01.01.2014 31.12.2014

Shares Shares

Buvil Bin Angkui - -

Mat Salleh @ Awang Sapong Bin Sapong - -

Sulaiman Bin Awang - -

Saat Bin Ag Damit - -

--------------- ---------------

- -

========= =========

RESERVES AND PROVISIONS

All material transfers to and from reserves and provisions during the year are shown in the financial

statements.

ISSUE OF SHARES

The Company had not issued any share during the financial year.

BAD AND DOUBTFUL DEBTS

Before the income statement and the balance sheet were made out, the directors took reasonable

steps to ascertain that action had been taken in relation to the writing off of bad debts and the making

of provision for doubtful debts, and had satisfied themselves that all the debts were good and hence

neither bad debt was written off, nor provision for doubtful debts was made.

At the date of this report, the directors of the Company are not aware of any circumstances which

would require the writing off of bad debts or the making of provision for doubtful debts to any

extent.

CURRENT ASSETS

Before the income statement and the balance sheet were made out, the directors took reasonable

steps to ensure that any current assets, which were unlikely to realize, in the ordinary course of

business, their value as shown in the accounting records of the Company had been written down to

an amount which might be expected to realize.

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Company No:

257004-W

At the date of this report, the directors are not aware of any circumstances, which would render the

values attributed to current assets in the financial statement of the Company misleading.

VALUATION METHODS

At the date of this report, the directors are not aware of any circumstances which have arisen which

render adherence to the existing methods of valuation of assets or liabilities of the Company

misleading or inappropriate.

CONTINGENT AND OTHER LIABILITIES

At the date of this report, there does not exist :-

(i) any charge on the assets of the Company which has arisen since the end of the financial year

which secures the liabilities of any other person, or

(ii) any contingent liability of the Company which has arisen since the end of the financial year.

No contingent liability or other liability has become enforceable or is likely to become enforceable

within the period of twelve months after the end of the financial year which, in the opinion of the

directors, will or may affect the ability of the Company to meet their obligations when they fall due.

CHANGE OF CIRCUMSTANCES

At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in

this report or the financial statements which would render any amount stated in the financial

statements misleading.

ITEMS OF AN UNUSUAL NATURE

The results of the operations of the Company for the year ended 31st December 2014 were not, in the

opinion of the directors, substantially affected by any item, transaction or event of a material and

unusual nature.

EVENTS SUBSEQUENT TO BALANCE SHEET DATE

There has not arisen in the interval between the end of the financial year and the date of this report

any item, transaction or event of a material and unusual nature likely, in the opinion of the directors,

to affect substantially the result of the operations of the Company for the financial year in which this

report is made.

HOLDING COMPANY

The holding company of the Company is Koperasi Pekerja-Pekerja Kerajaan Sabah Bhd, a

cooperative society registered in Malaysia, which owns 100% of the issued shares of the Company.

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Company No:

257004-W

AUDITORS

The retiring auditors, Messrs. Yong Ng & Co PLT, have indicated their willingness to be

reappointed in accordance with Section 172(2) of the Companies Act, 1965.

Signed on behalf of the Board of directors in accordance with a resolution of the directors

Buvil Bin Angkui Mat Salleh @ Awang Sapong Bin Sapong

Director Director

Kota Kinabalu

Dated :

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Company No:

257004-W



STATEMENT BY DIRECTORS Pursuant to section 169(15) of the Companies Act, 1965

We, Buvil Bin Angkui and Mat Salleh @ Awang Sapong Bin Sapong being two of the directors

of Onekinabalu Holdings Sdn Bhd, do hereby state on behalf of the directors that in our opinion,

the financial statements as set out on pages 9 to 19 are drawn up in accordance with the provisions of

the Companies Act, 1965 and applicable Approved Financial Reporting Standards in Malaysia so as

to give a true and fair view of the state of affairs of the Company as at 31st December 2014 and of the

results and the cash flows of the Company for the year ended on that date.

Signed on behalf of the Board in accordance with a resolution of the directors

Buvil Bin Angkui Mat Salleh @ Awang Sapong Bin Sapong

Director Director

Kota Kinabalu

Dated :

STATUTORY DECLARATION Pursuant to section 169(16) of the Companies Act, 1965

I, Buvil Bin Angkui, being the director responsible for the accounting records and financial

management of Onekinabalu Holdings Sdn Bhd, do solemnly and sincerely declare that the

financial statements as set out on pages 9 to 19 are to the best of my knowledge and belief, correct

and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the

provisions of the Statutory Declarations Act, 1960.

Subscribed and solemnly declared by

the abovenamed Buvil Bin Angkui

at Kota Kinabalu Sabah on

Before me

Commissioner for Oaths Buvil Bin Angkui

Director

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Company No:

257004-W

YONG NG & CO PLT (LLP0001093-LCA)

CHARTERED ACCOUNTANTS AF 0368

P O BOX 16640, 88871 KOTA KINABALU, SABAH TEL : 088-241091, 242091 FAX : 088-233795

e-mail : [email protected]

INDEPENDENT AUDITORS’ REPORT

TO THE MEMBERS OF ONEKINABALU HOLDINGS SDN BHD

Report on the Financial Statements

We have audited the financial statements of Onekinabalu Holdings Sdn Bhd, which comprise the

balance sheet as at 31st December 2014 of the Company, and the income statements, statements of

changes in equity and cash flow statements of the Company for the year then ended, and a summary

of significant accounting policies and other explanatory notes, as set out on pages 9 to 19.

Directors’ Responsibility for the Financial Statements

The directors of the Company are responsible for the preparation and fair presentation of these

financial statements in accordance with applicable Approved Financial Reporting Standards and the

Companies Act 1965 in Malaysia. This Responsibility includes : designing, implementing and

maintaining internal control relevant to the preparation and fair presentation of financial statements

that are free from material misstatement, whether due to fraud or error, selecting and applying

appropriate accounting policies; and making accounting estimates that are reasonable in the

circumstances.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We

conducted our audit in accordance with approved standards on auditing in Malaysia. Those

standards require that we comply with ethical requirements and plan and perform the audit to obtain

reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures

in the financial statements. The procedures selected depend on our judgment, including the

assessment of risks of material misstatement of the financial statements, whether due to fraud or

error. In making those risk assessments, we consider internal control relevant to the Company’s

preparation and fair presentation of the financial statements in order to design audit procedures that

are appropriate in the circumstances, but not for the purpose of expressing an opinion on the

effectiveness of the Company’s internal control. An audit also includes evaluating the

appropriateness of accounting policies used and the reasonableness of accounting estimates made by

the directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

for our audit opinion.

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Company No:

257004-W

Opinion

In our opinion, the financial statements have been properly drawn up in accordance with the

Companies Act 1965 and Applicable Approved Financial Reporting Standards in Malaysia so as to

give a true and fair view of the financial position of the Company as of 31st December 2014 and of

their financial performance and cash flows of the year then ended.

Emphasis of Matter

Without qualifying our opinion, we draw attention to Note 3(a) in the financial statements which

discloses the premise upon which the Company has prepared its financial statements by applying the

going concern assumption, notwithstanding that the Company incurred accumulated losses

amounting to RM5,211,270 which included current year loss of RM6 as at 31st December 2014, and

as of that date, the Company’s current liabilities exceeded its current assets by RM3,461,271 and the

shareholders’ equity deficit was RM3,211,270 thereby indicating the existence of a material

uncertainty which may cast significant doubt about the Company’s ability to continue as a going

concern.

Report on Other Legal and Regulatory Requirements

In accordance with the requirements of the Companies Act 1965 in Malaysia, we also report that in

our opinion, the accounting and other records and the registers required by the Act to be kept by the

Company have been properly kept in accordance with the provisions of the Act.

Other Matters

This report is made solely to the members of the Company, as a body, in accordance with Section

174 of the Companies Act 1965 in Malaysia and for no other purpose. We do not assume

responsibility to any other person for the content of this report.

Yong Ng & Co PLT (LLP0001093-LCA) Chartered Accountants

AF 0368

Ng Chee Min 797/04/16 (J/PH)

Chartered Accountant

Kota Kinabalu

Dated :

Lot 62, 2nd

Floor, Block G, Asia City, 88000 Kota Kinabalu, Sabah.

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Company No:

257004-W



NOTES TO THE FINANCIAL STATEMENTS

31ST

DECEMBER 2014

1. PRINCIPAL ACTIVITY

The Company ceased business operation in 2009.

2. DATE OF AUTHORISATION OF ISSUE

The financial statements were authorized to issue by the Board of Directors on

3. SIGNIFICANT ACCOUNTING POLICIES

a) Basis of preparation

The financial statements of the Company have been prepared under the historical cost

convention and comply with the provisions of the Companies Act, 1965 and applicable

Approved Financial Reporting Standards in Malaysia.

The preparation of financial statements in conformity with the provisions of the Companies

Act, 1965 and the applicable Approved Financial Reporting Standards in Malaysia requires

the use of estimates and assumptions that affect the reported amounts of assets and liabilities

at the date of the financial statements, and the reported amounts of revenues and expenses

during the reported financial year. Although these estimates are based on the Directors’ best

knowledge of current events and actions, actual results may differ from those estimates.

The Company incurred accumulated losses amounted to RM5,211,270 which included

current year loss of RM6 as 31st

December 2014 and as of that date, the current liabilities

exceeded it current assets by RM3,461,271 and the shareholders’ equity deficit was

RM3,211,270. The abilities of the Company to continue as a going concern is dependent on

its achieving profitable future operations and the continuous support of the creditors.

The financial statements of the Company do not include any adjustments relating to

amounts and classifications of assets and liabilities that might be necessary should the

Company be unable to continue as a going concern.

b) Property, plant & equipment

Property, plant & equipment are initially stated at cost. Land and building are subsequently

shown at market value, based on valuations, less subsequent accumulated depreciation and

subsequent accumulated losses. All other property, plant & equipment are stated at

historical cost less accumulated depreciation and impairment losses.

Surpluses arising on revaluation are credited to revaluation reserve. Any deficit arising from

revaluation is charged against the revaluation reserve to the extent of a previous surplus held

in the revaluation reserve for the same asset. In all other cases, a decrease in carrying

amount is recognized as an expense in the income statement.

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Company No:

257004-W

Depreciation is provided on the straight-line method in order to write off the cost of each

asset to its residual value over its estimated useful life. The principal rate used is as follow: -

Equipment & fixture 15% - 20% per annum

Property, plant and equipment are written down to recoverable amounts if, the recoverable

amounts are less than their carrying values. Recoverable amount is the higher of an asset’s

net selling price and its value in use.

c) Provisions for Liabilities

Provisions for liabilities are recognized when the Company has a present obligation as a

result of a past event and it is probable that an outflow of resources embodying economic

benefits will be required to settle the obligation, and a reliable estimate of the amount can be

made. Provisions are reviewed at each balance sheet date and adjusted to reflect the current

best estimate. Where the effect of the time value of money is material, the amount of a

provision is the present value of the expenditure expected to be required to settle the

obligation.

d) Cash flow statements

The Company adopts the indirect method in the preparation of cash flow statements.

Cash and cash equivalents comprise cash at bank and in hand, bank overdraft, deposits and

investments maturing within three months from the date of acquisition and which are readily

convertible to known amount of cash which are subject to an insignificant risk of changes in

value.

e) Impairment of assets

The carrying amounts of assets, other than inventories, assets arising from construction

contracts, deferred tax assets and financial assets are reviewed for impairment when there is

an indication that the assets might be impaired. Impairment is measured by comparing the

carrying values of the assets with their recoverable amounts. The recoverable amount is the

higher of an asset’s net selling price and its value in use, which is measured by reference to

discounted future cash flows. Recoverable amounts are estimated for individual asset, or if it

is not possible, for the cash-generating unit.

An impairment loss is recognized as an expense in the income statement immediately,

unless it reverses a previous revaluation, in which case it is treated as a revaluation decrease.

Any subsequent increase in the recoverable amount of an asset is treated as reversal of the

previous impairment loss and is recognized to the extent of the carrying amount of the asset

that would have been determined (net of amortization or depreciation) had no impairment

loss been recognized. The reversal is recognized in the income statement immediately,

unless the asset is carried at revalued amount. A reversal of an impairment loss on a

revalued asset is credited directly to revaluation surplus. To the extent that an impairment

loss on the same revalued asset was previously recognized as an expense in the income

statement, a reversal of that impairment loss is recognized as income in the income

statement.

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Company No:

257004-W

f) Income tax

Income tax on the profit or loss for the year comprise current and deferred tax. Current tax is

the expected amount of income tax payable in respect of the taxable profit for the year. It is

measured using the tax rates that have been enacted at the balance sheet date.

Deferred tax is recognized using the liability method for all temporary differences between

the carrying amounts of assets and liabilities and their tax bases at the balance sheet date.

Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax

assets are recognized for all deductible temporary differences, unused tax losses and unused

tax credits to the extent that it is probable that future taxable profit will be available against

which the deductible temporary differences, unused tax losses and unused tax credits can be

utilized. Deferred tax assets and liabilities are not recognized on temporary differences

arising from goodwill or negative goodwill or from the initial recognition of an asset or

liability in a transaction which is not a business combination and at the time of the

transaction, affects neither accounting profit nor taxable profit.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to

the period when the assets are realized or the liabilities are settled. The carrying amount of a

deferred tax asset is reviewed at each balance sheet date and is reduced to the extent that it

becomes probable that sufficient future taxable profit will be available.

Deferred tax is recognized in the income statement, except when it arises from a transaction

which is recognized directly in equity. In this case the deferred tax is charged or credited

directly in equity. When the deferred tax arises from a business combination that is an

acquisition, it is included in the resulting goodwill or negative goodwill.

g) Revenue recognition

Revenue from sales relating to long term contracts are accounted for using the percentage of

completion method ; the stage of completion is measured by reference to actual costs

incurred to date as a proportion of the estimated total costs for each contract.

Other revenues earned by the Company are recognized on the following bases :

i) Interest income is recognized on an accrual basis (taking into account the effective yield

on the asset) unless its collectibility is in doubt.

ii) Rental income is recognized on an accrual basis in accordance with the substance of the

relevant agreement.

iii) Commission income is recognized on receipt basis.

h) Financial Instruments

Financial instruments are recognized in the balance sheet when the Company has become a

party to the contractual provisions of the instruments.

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Company No:

257004-W

Financial instruments are classified as liabilities or equity in accordance with the substance

of the contractual arrangement. Interest, dividends, gains and losses relating to a financial

instrument classified as a liability are reported as expense or income. Distributions to

holders of financial instruments classified as equity are charged directly to equity. Financial

instruments are offset when the Company has a legally enforceable right to offset and

intends to settle either on a net basis or to realize the asset and settle the liability

simultaneously.

i) Investments

Investments are stated at cost less impairment losses. On disposal of an investment, the

difference between net disposal proceeds and its carrying amount is recognized in

income statement.

ii) Payables

Payables are stated at cost which is the fair value of the consideration to be paid in future

for goods and services received.

iii) Equity instruments

Ordinary shares are classified as equity. Dividend on ordinary shares are recognized in

equity in the period in which they are declared.

4. PROPERTY, PLANT AND EQUIPMENT

Equipment

& Fixtures Total

RM RM

Net book value as at 01.01.2014 1 1

Depreciation charges - -

------------ ------------

Net book value as at 31.12.2014 1 1

======= =======

As at 31.12.2014

Cost 120 120

Accumulated depreciation (119) (119)

------------ ------------

Net book value 1 1

======= =======

As at 31.12.2013

Cost 120 120

Accumulated depreciation (119) (119)

------------ ------------

Net book value 1 1

======= =======

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Company No:

257004-W

5. INVESTMENT IN ASSOCIATED COMPANY

5,000 ordinary shares of RM1 each in Inna Kinabalu Sdn Bhd have been written off.

1,114,415 ordinary shares of RM1 each in Sabah Times Sdn Bhd have been written off.

6. INVESTMENT IN SUBSIDIARY COMPANY

2014 2013

RM RM

250,000 ordinary shares of RM1 each in Kopeks Housing S/B 250,000 250,000

======= =======

No consolidated financial statements is prepared as Onekinabalu Holdings Sdn Bhd is a wholly

owned subsidiary of a co-operative society.

7. OTHER RECEIVABLES

2014 2013

RM RM

Amount due from associated company 525,248 585,248

======= =======

Amount due from associated company is unsecured, interest free and with no fixed term of

repayment.

8. OTHER PAYABLES

2014 2013

RM RM

Amount due to related companies 3,981,478 3,981,478

Sundry payables 6,710 6,710

------------- -------------

3,988,188 3,988,188

======== =======

Amount due to related companies is unsecured, interest free and with no fixed term of

repayment.

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Company No:

257004-W

9. SHARE CAPITAL

2014 2013

No. of No. of

Shares RM Shares RM

Authorised ordinary shares of RM 1 each

As at beginning of the year 2,000,000 2,000,000 2,000,000 2,000,000

Created during the year - - - -

------------ -------------- -------------- --------------

As at end of the year 2,000,000 2,000,000 2,000,000 2,000,000

======= ======== ======== ========

Issued and fully paid ordinary shares of

RM 1 each

As at beginning of the year 2,000,000 2,000,000 2,000,000 2,000,000

Issued during the year - - - -

------------ -------------- ------------- --------------

As at end of the year 2,000,000 2,000,000 2,000,000 2,000,000

======= ======== ======== ========

During the financial year, no new ordinary share was issued by the Company.

10. PROFIT/(LOSS) FROM OPERATIONS

2014 2013

RM RM

Profit from operations is stated :-

After charging

Auditors’ remuneration 1,270 1270

After crediting

Interest income 1 68

The Company had no employee other than the four directors at the end of the financial year.

(2013: 4).

11. TAXATION

2014 2013

RM RM

The major components of the income tax expense/(income) are :

Current tax expense based on profit of the year - 13

Tax expense under/(over) provided in the prior year - -

Real Property Gain Tax under/(over) provided in the prior year - -

Deferred tax expense/(income) relating to the origination and

Reversal of temporary differences - -

------------ ------------

- 13

======= =======

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Company No:

257004-W

12. FINANCIAL RISK MANAGEMENT POLICIES

The Company’s financial risk management policy seeks to ensure that adequate financial

resources are available for the development of the Company’s businesses whilst managing its

risks through risk reviews, internal control system, insurance program and adherence to

financial risk management policies.

The main areas of financial risks faced by the Company and the policy in respect of the major areas

of treasury activity are set out as follows : -

a) Foreign currency exchange risk

The Company is exposed to foreign currency risk as a result of its normal trading activities,

where the currency denomination differs, from the local currency, Ringgit Malaysia (RM). The

company primarily operates in the domestic sector is minimally exposed to foreign currencies to

limit their exposure on foreign currency receivables and payables.

b) Interest rate risk

The Company is exposed to interest rate risk as a result of borrowings and deposits. This risk is

minimized as the exposure of the company to these items is limited.

c) Liquidity and Cash Flow risks

The Company actively manages its operating cash flows and the availability of funding to ensure

all financing, repayment and funding needs are met.

d) Fair Values

The carrying amounts of the Company’s financial instruments, including financial assets and

liabilities approximate their fair values due to their short term maturities.

The following methods and assumptions are used to estimate the fair values of these

instruments :

i) Cash and Cash Equivalents, and Trade and Other Receivables and Payables

The carrying amounts approximate fair values due to the relatively short term maturity of

these financial instruments.

13. CAPITAL COMMITMENTS

As at year end, the Company has no outstanding capital expenditures commitments.

14. ADJUSTMENTS

2014 2013

RM RM

Debts recovered from associated company but surrendered

to the holding company (60,000) (60,000)

Other creditors and accrual written off - 408,085

------------ ------------

(60,000) 348,085

======= =======

19

Share Accumulated

Capital Loss Total

RM RM RM

BALANCE AS AT 1ST JANUARY 2012 2,000,000 (5,696,817) (3,696,817)

Adjustment (Note 14) - 348,085 348,085

Net profit for the year - 197,468 197,468

BALANCE AS AT 31ST DECEMBER 2013 2,000,000 (5,151,264) (3,151,264)

Adjustment (Note 14) - (60,000) (60,000)

Net loss for the year - (6) (6)

BALANCE AS AT 31ST DECEMBER 2014 2,000,000 (5,211,270) (3,211,270)

The accompanying notes form an integral part of the financial statements.

11

STATEMENT OF CHANGES IN EQUITY

FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2014

ONEKINABALU HOLDINGS SDN BHD(257004-W)


Company No.

Y028-15/9246(14)/SURIATI

-

Y028-15/9246(14)/SURIATI

(257004-W)


2014 2013

Note RM RM

REVENUE - -

OPERATING COST - -

OPERATING PROFIT - -

Other operating income 3,219 255,711

General & administrative expenses (3,225) (58,230)

Other operating expenses - -

PROFIT/(LOSS) FROM OPERATIONS 10 (6) 197,481

Finance costs - -

NET PROFIT/(LOSS) BEFORE TAXATION (6) 197,481

Taxation 11 - (13)

NET PROFIT/(LOSS) FOR THE YEAR (6) 197,468



10

ONEKINABALU HOLDINGS SDN BHD

INCOME STATEMENT

Company No.

Y028-15/9246(14)/SURIATI

2014 2013

RM RM

CASH FLOWS FROM OPERATING ACTIVITIES

Net profit/(loss) before taxation (6) 197,481

Adjustments for :

Scrapped of property, plant and equipment - -

Prior adjustment (60,000) 348,085

Operating profit/(loss) before working capital changes (60,006) 545,566

Decrease/(Increase) in other receivables 60,000 60,000

Increase/(Decrease) in other payables - (750,428)

Cash generated used in operations (6) (144,862)

Income tax paid (13) (32)

Net cash used in operating activities (19) (144,894)

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash from/(used in) investing activities - -

CASH FLOWS FROM FINANCING ACTIVITIES

Net cash from/(used in) financing activities - -

NET INCREASE/(DECREASE) IN CASH

AND CASH EQUIVALENTS (19) (144,894)

OPENING CASH AND CASH EQUIVALENTS 1,688 146,582

CLOSING CASH AND CASH EQUIVALENTS 1,669 1,688

ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash in hand 2 2

Cash at bank 1,667 1,686

1,669 1,688


CASH FLOW STATEMENT




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Company No.

Y028-15/9246(14)/SURIATI

CASH FLOW STATEMENT




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Y028-15/9246(14)/SURIATI

Note 2014 2013

RM RM

NON-CURRENT ASSETS

Property, plant & equipment 3(b) & 4 1 1

Investment in associated company 5 - -

Investment in subsidiary company 6 250,000 250,000

250,001 250,001

CURRENT ASSETS

Other receivables 7 525,248 585,248

Cash at bank 1,667 1,686

Cash in hand 2 2

526,917 586,936

CURRENT LIABILITIES

Other payables 8 3,988,188 3,988,188

Tax payable - 13

3,988,188 3,988,201

NET CURRENT LIABILITIES (3,461,271) (3,401,265)

(3,211,270) (3,151,264)

FINANCED BY

Share capital 9 2,000,000 2,000,000

Reserves (5,211,270) (5,151,264)

SHAREHOLDERS' EQUITY (3,211,270) (3,151,264)




9

BALANCE SHEET

AS AT 31ST DECEMBER 2014

Company No.

Y028-15/9246(14)/SURIATI

-

Y028-15/9246(14)/SURIATI

FINANCIAL STATEMENTS fileY028-15/9246(14)/SURIATI Company No: 257004-W No director has, since the...

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Transcript of FINANCIAL STATEMENTS fileY028-15/9246(14)/SURIATI Company No: 257004-W No director has, since the...