51laporan tahunan2010annual report
risiko-risiko penting berkaitandengan bidang-bidang perniagaanmereka, serta reka bentuk danoperasi kawalan dalaman yangsesuai dalam menguruskan risiko-risiko ini.
• Jawatankuasa Audit, melalui JabatanAudit Dalaman Petra PerdanaBerhad, memeriksa keberkesanansistem kawalan dalaman Kumpulan.Jabatan Audit Dalaman menerimapakai pendekatan berasaskan risikodalam mengenal pasti bidang-bidangkeutamaan bagi perlantikan jaminan.
• Prestasi kewangan Syarikat bagisetiap suku tahunan adalah tertaklukkepada semakan oleh JawatankuasaAudit dan penyata kewangan tahunanoleh kedua-dua juruaudit dalamandan juruaudit luar. JawatankuasaAudit kemudiannya melaporkan danmembentangkan cadangan kepadaLembaga Pengarah.
Lembaga dan pengurusan komited untukmempertingkatkan sistem kawalandalaman Kumpulan secara berterusanuntuk memastikan ia kekal relevan,mencukupi dan berintegriti.
PENGURUSAN RISIKO
Terdapat proses pengurusan risikoberterusan untuk mengenal pasti,menilai, mengawal, memantau danmelaporkan risiko-risiko penting yangboleh mempengaruhi pencapaianobjektif perniagaan Kumpulan.
Proses ini sentiasa disemak semula olehLembaga dan selaras dengan Penyata
TANGGUNGJAWAB
Lembaga menyedari tanggungjawabnyauntuk mengekalkan sistem pengurusankawalan dalaman dan pengurusan risikoyang kukuh yang akan memberikanjaminan munasabah dalam memastikankeberkesanan dan kecekapan operasi,kebolehpercayaan pelaporan kewangandan pematuhan undang-undang danperaturan terpakai, untuk melindungikepentingan pemegang-pemegangsaham dan aset Kumpulan.
Sistem kawalan dalaman dirangka untukmenguruskan risiko Kumpulan dalamprofil risiko yang boleh diterima, danbukannya menghapuskan risikokegagalan untuk mencapai dasar danobjektif perniagaan Kumpulan, dan hanyaboleh memberikan jaminan munasabahtetapi tidak sepenuhnya terhadap salahnyataan material atau kerugian.
RANGKA KERJA SISTEM KE ATASKAWALAN DALAMAN
Elemen-elemen utama sistemkawalan dalaman Kumpulan adalahseperti berikut:
• Struktur organisasi yang jelasdengan bidang-bidangtanggungjawab dan pemberiankuasa yang jelas.
• Memusatkan kawalan fungsi utamaseperti hal-ehwal korporat, kewangan,cukai, undang-undang, sumbermanusia dan pengurusan risiko.
• Penglibatan pengurusan dalampengenalpastian dan penilaian
Kawalan Dalaman - Panduan bagiPengarah Syarikat Awam Tersenarai.
Proses ini melibatkan pelaksanaanbengkel-bengkel pengurusan risiko danpembangunan selanjutnya JadualPengurusan Risiko untuk mencakupi danmengutamakan profil-profil risikopenting, membahagikan tanggung-jawab ke atas risiko, mengenakan garismasa kepada kawalan pengurusan danrancangan tindakan, dan menyediakanpemantauan dan pelaporan risikoberterusan.
Lembaga, dengan kerjasamapengurusan, sentiasa mengambillangkah-langkah untuk mengukuhkansistem pengurusan risiko Kumpulansebagai satu cara untuk mencapaiobjektif perniagaan Kumpulan.
KAJIAN PENYATA OLEHJURUAUDIT LUAR
Juruaudit luar telah mengkaji PenyataKawalan Dalaman ini bagi dimasukkanke dalam Laporan Tahunan Kumpulanbagi tahun kewangan berakhir31 Disember 2010. Juruaudit luar telahmelaporkan kepada Lembaga bahawasepengetahuan mereka tiada apa-apayang menyebabkan mereka curigabahawa Penyata ini tidak konsistendengan kefahaman mereka mengenaiproses yang diterima pakai olehLembaga dalam mengkaji kecukupandan integriti sistem kawalan dalaman.
Penyata ini telah diluluskan olehLembaga Pengarah pada 28 April 2011.
Kenyataan Kawalan Dalaman
Petra Perdana Berhad52
Board of Directors’ Statement
effectively to the scope and complexity ofthe Group’s operations as a leading andpreferred offshore marine operator for theupstream oil and gas industry in theregion. The Malaysian Code onCorporate Governance states that “thereshould be a clearly accepted division ofresponsibilities at the head of thecompany which will ensure a balance ofpower and authority, such that no oneindividual has unfettered powers ofdecision”. The Company has appointedEn. Shamsul Saad as the ManagingDirector and his responsibilities as thechief executive officer (CEO) is to overseethe operations and affairs of the Board,providing leadership, strategic vision andmeeting immediate performance targetswithout neglecting longer-term growthopportunities of the Group. The Boardviews that a chairman who is anindependent non-executive director willprovide a balance to the influence of theCEO and have agreed not to combine theroles. The Board will ensure that thecandidate selected as the IndependentChairman has the experience,temperament and commitment to beeffective in his role.
The Board’s main duties include regularoversight of the Group’s businessoperations and financial performance andensuring that the infrastructure, internalcontrols, and risk management processesare firmly in place to assess and managebusiness risks, inter-alia, operational,credit, market and liquidity risks.
The Directors discharge their duties aseffective Board members with personaldedication of time and ability to bringnew and different perspectivesto the Board.
STATEMENT ON CORPORATEGOVERNANCE
The Board of Directors firmly believesthat good corporate governance is thekey to the improved long-termperformance of the Group and that asound governance structure isfundamental to safeguard the interests ofall its stakeholders.
THE BOARD OF DIRECTORS
Size and Composition
The Board comprises eight (8) Membersof whom four (4) are Executive Directorsand four (4) are Non-Executive Directors.
Three (3) of the Non-Executive Directorsare independent and meet theIndependent Director criteria as set out inthe Bursa Malaysia Securities Berhad(“Bursa Securities”) Listing Requirements.
The Independent Non-Executive Directorsare independent of Management andfree from any business or otherrelationship with the Company whichcould materially affect the exercise oftheir independent judgment. TheCompany had identified and appointedtwo (2) of the Independent Non-Executive Directors from the MinorityShareholders’ Watchdog Group’sIndependent Directors Pool. TheIndependent Non-Executive Directorsfacilitate the Board to exercise objectivejudgment independently in particularfrom the Management.
For the time being, the currentcomposition is well balanced and caters
The Board has identified GanesanSundaraj as the Senior IndependentDirector to whom concerns ofshareholders and other stakeholdersmay be conveyed.
Board Meetings and Supply ofInformation
The Board meets regularly, at least onceevery quarter to review the businessperformance of the Group.
Members of the Board deliberate and inthe process evaluate the potential risksand viability of business propositionsand corporate proposals that havesignificant impact on the Group’sbusiness or on its financial position.
The Chairman of the Audit Committeewill inform the Directors at Boardmeetings, matters and recommendationswhich the Audit Committee view ought tobe highlighted to the Board.
Board meetings are governed by astructured formal agenda and the agendafor each Board meeting and papersrelating to the agenda items areforwarded to all Directors for their perusalin advance of the date of the Boardmeeting. Board meeting papers circulatedto Directors include details of businesspropositions and corporate proposalsincluding where relevant, supportingdocuments such as professional advicefrom solicitors or advisers. The Directorsare thus able to peruse the Board papersand appraise the issues to be deliberatedat the Board meeting well before the dateof the meeting.
53laporan tahunan2010annual report
Director to chair the proceedings. This isto ensure there is a balance to theinfluence of the Executive Directors withno one individual having unfetteredpowers of decision.
The commitment of the Board ofDirectors in ensuring effective dischargeof their duties and responsibilities isreflected by the high number of Boardmeetings held during the financial yearended 31 December 2010.
During the financial year ended31 December 2010, the Board met12 times and the attendance record of thepresent Board members are as follows:
Namesof Directors Attendance
Shamsul Saad 11/12
Dato’ Kho Poh Eng 11/11(Appointed on 4/2/2010)
Koh Pho Wat 11/11(Appointed on 4/2/2010)
Ganesan Sundaraj 11/11(Appointed on 4/2/2010)
Surya Hidayat 10/11Abd Malik(Appointed on 4/2/2010)
Raja Anuar Raja 9/9Abu Hassan(Appointed on 18/3/2010)
Idris Zaidel 8/9(Appointed on 23/4/2010)
Hamdan Rasid 2/4(Appointed on 20/7/2010)
The Board has direct access to SeniorManagement and has complete andunimpeded access to informationrelating to the Company in the dischargeof their duties. The Directors may requireto be provided with further details orclarifications on matters tabled at Boardmeetings. Senior Management Officersare invited to attend the Board meetingsto update the Board on their respectiveportfolios and to brief the Directors onproposals submitted for the Board’sconsideration. Professional advisers,accountants and solicitors appointed bythe Company to advise on corporateproposals to be undertaken by theCompany would be invited to attendBoard meetings to render their adviceand opinion, and also to clarify anyissues raised by the Directors relating tothe corporate proposals tabled for theBoard’s consideration. The Directorshave the liberty to seek externalprofessional advice at the Company’sexpense, if they so require.
The Directors are also regularly updatedand advised by the Company Secretaryon new statutory and regulatoryrequirements relating to the discharge oftheir duties and responsibilities, includingamendments to the Listing Requirementsby Bursa Securities. Every Member of theBoard has ready and unrestricted accessto the advice and services of theCompany Secretary. The CompanySecretary attends all Board meetings andensures that accurate and proper recordsof the proceedings of Board meetingsand resolutions passed are kept.
Even though the Company has notappointed a Chairman of the Board, theDirectors at each Board Meeting willappoint an Independent Non-Executive
Directors’ Training and Education
The Group acknowledges that continuouseducation is vital for the Board membersto gain insight into the state of economy,technological advances and regulatoryupdates. The Directors are encouragedto attend continuous educationprogrammes to further enhance theirskills and knowledge, where relevant. AllDirectors including the newly appointedDirectors have completed the MandatoryAccreditation Programme pursuant to theListing Requirements of Bursa Securitiesand have been briefed by theManagement on the operations andpolicies of the Company to familiarizethemselves with the Company’s business.
Petra Perdana Berhad54
Board of Directors’ Statement (cont’d)
During the financial year ended 31 December 2010, the following Directors attended the trainings as set out below:
Director Mode of Title of Training Duration ofTraining Training
Shamsul Saad Seminar Promoting the Corporate Governance Agenda – Raising the Bar 1 day
Raja Anuar Raja Seminar Malaysian Financial Reporting Standards - Recent Developments and Updates 2 daysAbu Hassan
Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Seminar Managing Assets Under IFRS/FRS 2 days
Idris Zaidel Seminar Malaysian Financial Reporting Standards – Recent Developments and Updates 2 days
Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Dato’ Kho Poh Eng Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Koh Pho Wat Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Surya Hidayat Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ daysAbd Malik
Talk Evening talk on Corporate Governance 2 hours
Hamdan Rasid Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Workshop FRS 139 Workshop - Financial Instrument 1 day
Training Goods and Services Tax (GST) for Malaysia: The Right Approach to Taxation 1 day
Seminar MBA in Asset Allocation by Terappin Financial 2 days
Conference Amundi and Investment Conference 2010 – 1 day“Navigating through Market Turbulence- Investment Forum
Training Making A Difference 2 days
Ganesan Sundaraj Seminar Adoption of FRS 139- Financial Instruments Recognition & Measurement 1 day
55laporan tahunan2010annual report
ii. professionalism;iii. integrity; andiv. in the case of candidates for the
position of independentnon-executive Directors, thenominating committee shouldalso evaluate the candidates’ability to discharge suchresponsibilities/functions asexpected from independentnon-executive Directors.
c) To assess Directors on an on-goingbasis, the effectiveness of the Boardas a whole, the Committees of theBoard and the contribution of eachindividual Director.
d) To recommend to the Board,Directors to fill the seats on BoardCommittees.
e) To review annually the Board’s mix ofskills and experience and otherqualities including core competencieswhich non-executive Directors shouldbring to the Board.
f) To recommend to the Board forcontinuation (or not) in service ofexecutive Director(s) and Directors whoare due for retirement by rotation.
g) To orientate and educate newDirectors as to the nature of thebusiness, current issues within theCompany and the corporatestrategy, the expectations of theCompany concerning input from theDirectors and the generalresponsibilities of Directors.
Appointment of Board Membersand Terms of Reference ofNomination Committee
The proposed appointment of a newmember of the Board other than thosenominated by shareholders forappointment at the Annual GeneralMeeting and the proposed re-election ofexisting Directors who are seekingre-appointment or re-election at theannual general meeting of the Companywill be reviewed and assessed by theNomination Committee. The NominationCommittee will, upon its review andassessment, submit its recommendation onthe proposed appointment or re-electionof Directors to the Board for approval.
The Nomination Committee comprisesentirely of Independent Non-ExecutiveDirectors.
The responsibilities of the NominationCommittee are as follows:
a) To review regularly the Boardstructure, size and composition andmake recommendations to the Boardwith regard to any adjustments thatare deemed necessary.
b) To recommend for appointment to theBoard of Directors, candidates for alldirectorships to be filled by theshareholders or the Board, takinginto consideration the candidates’:
i. skills, knowledge, expertiseand experience;
The Nomination Committee upon itsrecent annual review carried out, issatisfied that the size of the Board issufficient for the Board to effectivelydischarge its roles and responsibilitiesfor the benefit of the Company and itsbusiness and that there is appropriatemix of skills and core competencies inthe composition of the Board.The Nomination Committee is satisfiedthat all the Members of the Board aresuitably qualified to hold their positionsas Directors of the Company in view oftheir respective academic andprofessional qualifications, experienceand qualities.
The Nomination Committee has alsoupon its recent annual review carriedout, concluded that all the Directors havereceived training during the financialyear ended 31 December 2010 that isrelevant and would serve to enhancetheir effectiveness in the Board.
Meetings of the Nomination Committeeare held as and when required.
Directors’ Remuneration andTerm of Reference ofRemuneration Committee
The Remuneration Committee carries outthe review of the overall remunerationpolicy for Executive Directors whereuponrecommendations are submitted to theBoard for approval. The Remuneration
Petra Perdana Berhad56
package for each Executive Director,drawing from outside advice asnecessary.
b) To recommend to the Board anyperformance related pay schemes forExecutive Directors.
c) To review Executive Directors’ scopeof service contracts.
d) To consider the appointment of theservice of such advisers orconsultants as it deems necessary tofulfill its functions.
Meetings of the Remuneration Committeeare held as and when necessary.
Re-appointment and Re-electionof Director
The Articles of Association of theCompany provide that at every annualgeneral meeting, one-third of Directorsfor the time being and those appointedduring the financial year shall retire fromoffice and shall be eligible for re-election.
Committee and the Board ensure that theCompany’s remuneration policy remainssupportive of the Company’s corporateobjectives and is aligned with the interestof shareholders, and further that theremuneration packages of ExecutiveDirectors are sufficiently attractive to drawin and to retain persons of high caliber.
The Board as a whole determines theremuneration of Non-Executive Directors,and each individual Director abstains fromthe Board decision on his ownremuneration. The Non-Executive Directorsare paid annual fees and attendanceallowance for each Board meeting thatthey attend.
The Remuneration Committee comprisesmainly of Independent Non-ExecutiveDirectors.
The responsibilities of the RemunerationCommittee are as follows:
a) To recommend to the Board theframework of Executive Directors’remuneration and the remuneration
The Articles further provide that allDirectors shall retire from office once atleast in each three (3) years but shall beeligible for re-election.
Board Committees
The Board has established BoardCommittees to assist the Board in therunning of the Company. The functionsand terms of reference of BoardCommittees as well as authority delegatedby the Board to these Committees areclearly defined by the Board.
The Board Committees are as follows:
• Audit Committee• Nomination Committee• Remuneration Committee
The composition of the Board Committees are reflected as follows:
Audit Nomination RemunerationCommittee Committee Committee
Ganesan Sundaraj Chairman Member Member
Raja Anuar Raja Abu Hassan Member Chairman Member
Idris Zaidel Member Member Chairman
Dato’ Kho Poh Eng – – Member
Board of Directors’ Statement (cont’d)
57laporan tahunan2010annual report
reporting processes and the quality ofthe financial reporting of the Group. TheAudit Committee reviews and monitorsthe integrity of the Group’s annual andinterim financial statements. It alsoreviews the appropriateness of theGroup’s accounting policies and thechanges to these policies. The Statementof Responsibility by Directors in respectof the preparation of the annual auditedfinancial statements of the Group is setout below.
ACCOUNTABILITY AND AUDIT
Financial Reporting
The Board is committed to providing abalanced, clear and meaningfulassessment of the financial performanceand prospects of the Group in all thedisclosures made to the stakeholders andthe Regulatory Authorities.
The Board is assisted by the AuditCommittee to oversee the financial
Internal Control
The Board has overall responsibility formaintaining a system of internal controlsthat provides reasonable assurance ofeffective and efficient operations, andcompliance with laws and regulations,as well as with internal proceduresand guidelines.
Directors’ Remuneration
The Remuneration Committee has been delegated the responsibility to review and recommend to the Board the remuneration packagesand other terms of employment for the Executive Directors.
The details of the remuneration of the Directors of the Company for the financial year ended 31 December 2010 are as follows:
Other RetirementGroup Fees Emoluments Benefits-in-kind Contribution Total
(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)
Executive Directors 199 4,004 259 23 4,485
Non-Executive Directors 172 20 – – 192
The number of Directors whose total remuneration falls within the respective bands is as follows:
Number of DirectorsExecutive Non-Executive
Below RM50,000 1 6
RM50,001 to RM100,000 – 1
RM100,001 to RM150,000 1 –
RM550,001 to RM600,000 1 –
RM1,000,001 to RM1,050,000 1 –
RM1,050,001 to RM1,100,000 1 –
RM1,650,001 to RM1,700,000 1 –
6 7
Petra Perdana Berhad58
Audit Committee also acts as a forum fordiscussion of internal control and riskmanagement issues and it contributes tothe Board’s review of the effectiveness ofthe internal control and risk managementsystems of the Group.
The minutes of the Audit Committeemeetings are tabled to the Board for notingand for action by the Board whereappropriate.
The activities carried out by the AuditCommittee during the year are set outunder the Audit Committee Report in thisAnnual Report.
Relationship with ExternalAuditors
It is the policy of the Audit Committee tomeet with the external auditors at leasttwice a year to discuss their audit plan,audit findings and the Company’sfinancial statements. These meetings areheld without the presence of theExecutive Directors and theManagement. The Audit Committee alsomeets with the external auditorswhenever it deems necessary.
The services provided by the externalauditors include statutory audits,recurring annual non-statutory audit andnon-audit services. Terms of engagementfor these services are reviewed by theAudit Committee and approved by theBoard. The Audit Committee approves all
The size and complexity of theoperations of the Group involves theacceptance and management of a widevariety of risks. The nature of these risksmeans that events may occur whichwould give rise to unanticipated orunavoidable losses. The Group’s systemof internal controls is designed toprovide reasonable and not absoluteassurance against the risk of materialerrors, fraud or losses occurring. TheManagement meets regularly to ensurethat the accountability for managing thesignificant risks confronting the Groupare being satisfactorily addressed on anongoing basis.
The effectiveness of the system of internalcontrols of the Group is reviewed by theAudit Committee during its quarterlymeetings. The review covers thefinancial, operational and compliancecontrols as well as the risk managementfunctions. The Internal Audit Divisionmonitors compliance with policies andstandards and the effectiveness ofinternal control structures acrossthe Group.
The Statement on Internal Control, whichprovides an overview of the state ofinternal controls within the Group, is setout in this Annual Report.
Audit Committee
In addition to the duties and responsibilitiesset out under its terms of reference, the
other non-audit services on a case bycase basis. In approving such cases, theAudit Committee reviews theindependence and objectivity of theexternal auditors to ensure that these willnot be compromised.
Effective Communications withShareholders
A key element of good corporategovernance is being transparent andaccountable to all stakeholders.Underlying the transparency andaccountability objectives is the provisionof clear, relevant and comprehensiveinformation which is timely and readilyaccessible to all stakeholders.
Taking cognizance of this, the Groupmaintains a high level of disclosure toand communication with its stakeholderswith the provision of clear,comprehensive and timely information,particularly to shareholders andinvestors, for informed investmentdecision making, through a number ofreadily accessible channels.
The annual report of the Company is akey channel of communication withshareholders and investors.
An important forum for communicationand dialogue with shareholders is thegeneral meetings of the Company whereshareholders are given both theopportunity and the time to raise questions
Board of Directors’ Statement (cont’d)
59laporan tahunan2010annual report
comprehensive and accurate, would beof less value to shareholders andinvestors. As such, the Group places ahigh priority on ensuring thatinformation is made available anddisseminated as early as possible.
Investor Relations
Another important channel ofcommunication with shareholders,investors and the investment communitygenerally, both in Malaysia andinternationally, is the Group’s investorrelations activities. The Group has astrong following amongst domestic andinternational institutional investors, fundmanagers and equity analysts, and adirect channel to them exists in theinvestor relations function of the Group.Management personnel responsible forthe Group’s investor relations functionare of very senior levels, therebyproviding views and information on theGroup that is appropriate and substantiveto investors and research analysts.
Statement of Directors’Responsibility in the Preparationof Financial Statements
The Directors are required by theCompanies Act 1965 (“the Act”) toprepare financial statements for eachfinancial year in accordance withapproved accounting standards so as togive a true and fair view of the state of
on the agenda items of the generalmeetings and where Directors of theCompany would provide the answers andappropriate clarification where required.
The Company conducts separate mediaand analyst briefings with the release ofits quarterly and annual resultsannouncements. The media briefings areintended not only to facilitate a widerdissemination of the announcement ofthe financial results of the Group to aswide an audience of investors andshareholders as possible but also to keepthe investing public and shareholdersupdated on the progress anddevelopment of the business of theGroup as well as any strategicdevelopments within the Group.
To promote wider dissemination ofcorporate and financial information thatis made public, the annual reports of theCompany, the quarterly announcementsof the financial results of the Group,announcements and disclosures madepursuant to the disclosure requirementsof the Bursa Securities ListingRequirements and other corporateinformation are also made available on theCompany’s website, www.petra.com.my.
Prompt and timely availability ofinformation is also important forshareholders and investors to makeinformed investments decisions.Information that is out of date, albeit
affairs of the Company and the Group atthe end of the financial year, and of theresults and cash flow of the Companyand the Group for the financial year.
The Directors are responsible forensuring that the Company and itssubsidiaries maintain proper accountingrecords which disclose with reasonableaccuracy the financial positions of theCompany and the Group in compliancewith the provisions of the Act and approvedaccounting standards in Malaysia.
In addition, the Directors have generalresponsibilities for taking such stepsthat are reasonably available to themto safeguard the assets of the Groupand to prevent and detect fraud andother irregularities.
Petra Perdana Berhad60
Kenyataan Lembaga Pengarah
Komposisi semasa Lembaga cukupseimbang dan berkesan dari segipengawasan keseluruhan operasiKumpulan yang kompleks sebagaipengendali marin luar pesisir terkemukadan terpilih bagi industri minyak dangas huluan di rantau ini. Kod UrusTadbir Korporat Malaysia menyatakanbahawa “seharusnya terdapatpembahagian tanggungjawab yangditerima dengan jelas di peringkatatasan syarikat yang akan memastikankeseimbangan kuasa dan autoriti,hinggakan tiada seorang pun individumempunyai kuasa membuat keputusanyang tidak terbatas”. Syarikat telahmelantik En. Shamsul Saad sebagaiPengarah Urusan dan beliaubertanggungjawab sebagai ketuapegawai eksekutif (CEO) untuk menyeliaoperasi dan hal-ehwal Lembaga,menyediakan kepimpinan, wawasanstrategik dan memenuhi sasaran prestasisemasa tanpa mengabaikan peluang-peluang pertumbuhan jangka panjangKumpulan. Lembaga berpendapatbahawa pengerusi yang jugamerupakan pengarah bebas bukaneksekutif akan mengimbangi pengaruhCEO dan telah memutuskanmenggabungkan peranan tersebut.Lembaga akan memastikan agar calon-calon yang dipilih sebagai PengerusiBebas mempunyai pengalaman,pembawaan dan komitmen yangmembolehkan beliau menjalankan tugasdengan berkesan.
Tugas utama Lembaga termasukmenyelia operasi perniagaan danprestasi kewangan Kumpulan danmemastikan agar infrastruktur, kawalan
KENYATAAN URUS TADBIRKORPORAT
Lembaga Pengarah yakin bahawa urustadbir korporat yang baik adalah kuncikepada prestasi jangka panjangKumpulan dan bahawa struktur urustadbir yang mantap adalah asasperlindungan hak semua pihak yangberkepentingan.
LEMBAGA PENGARAH
Saiz dan Komposisi
Lembaga terdiri daripada lapan (8) Ahlidengan empat (4) daripadanyaPengarah Eksekutif dan empat (4) lagiPengarah Bukan Eksekutif.
Tiga (3) Pengarah Bukan Eksekutifadalah pihak yang bebas danmemenuhi kriteria Pengarah Bebassebagaimana dinyatakan dalam SyaratPenyenaraian Bursa Malaysia SecuritiesBerhad (“Bursa Securities”).
Pengarah Bebas Bukan Eksekutif adalahbebas daripada Pengurusan dan bebasdaripada sebarang urusan atauperhubungan lain dengan Syarikat yangboleh menjejaskan secara materialpelaksanaan pertimbangan bebasmereka. Syarikat telah mengenal pastidan melantik dua (2) Pengarah BebasBukan Eksekutif daripada kelompokPengarah Bebas Badan PengawasPemegang Saham Minoriti (MSWG).Pengarah Bebas Bukan Eksekutifmembantu Lembaga untuk membuatpertimbangan objektif secara bebas,khususnya daripada pihak Pengurusan.
dalaman, dan proses-prosespengurusan risiko disediakan dengansecukupnya untuk menilai danmenguruskan risiko perniagaantermasuk, antara lainnya, risiko operasi,kredit, pasaran dan mudah tunai.
Pengarah menjalankan tanggungjawabmereka sebagai ahli Lembagaberkesan dengan sentuhan peribadidari segi sumbangan masa dankeupayaan masing-masing untukmembawa perspektif baru dankelainan kepada Lembaga.
Lembaga telah mengenal pasti GanesanSundaraj sebagai Pengarah BebasKanan untuk bertindak sebagai saluranbagi pemegang saham dan pihak yangkepentingan mengadu hal.
Mesyuarat Lembaga danPenyediaan Maklumat
Lembaga bermesyuarat secara tetap,sekurang-sekurangnya sekali dalamtempoh tiga bulan untuk mengkajiprestasi perniagaan Kumpulan.
Ahli-ahli Lembaga menimbang dandalam proses menilai risiko belumnyata dan daya maju rancanganperniagaan dan cadangan korporatyang mempunyai kesan ketaraterhadap kedudukan perniagaan ataukewangan Kumpulan.
Pengerusi Jawatankuasa Audit akanmemaklumkan pengarah dalammesyuarat Lembaga hal-hal dan syoryang dirasakan oleh jawatankuasa ituperlu diketengahkan kepada Lembaga.
61laporan tahunan2010annual report
dan menjelaskan kemusykilan Lembagaberkaitan cadangan korporat yangdibentangkan untuk pertimbanganLembaga. Jika difikirkan perlu,Pengarah bebas untuk mendapatkankhidmat nasihat profesional luar atastajaan Syarikat.
Para Pengarah juga sentiasa disalurkanoleh Setiausaha Syarikat maklumatyang kemas kini mengenai keperluanberkanun dan peraturan baru,termasuk pindaan kepada SyaratPenyenaraian oleh Bursa Securities,supaya mereka dapat melaksanakantugas dan tanggungjawab. Setiap AhliLembaga mempunyai akses tidakterbatas kepada nasihat dan khidmatSetiausaha Syarikat. SetiausahaSyarikat menghadiri semua mesyuaratLembaga dan memastikanpenyimpanan rekod yang tepat danbetul mengenai prosiding mesyuaratdan resolusi yang diluluskan.
Walaupun Syarikat belum melantikPengerusi Lembaga, Lembaga akanmelantik Pengarah Bebas BukanEksekutif untuk mempengerusikan setiapmesyuaratnya. Ini untuk memastikanwujudnya pengimbang pengaruhPengarah Eksekutif supaya tiadaindividu yang memiliki kuasa mutlakdalam membuat keputusan.
Komitmen Lembaga Pengarah dalammemastikan keberkesanan pelaksanaantugas dan tanggungjawab merekaditunjukkan melalui bilangan mesyuaratLembaga yang dihadiri dalam tahunkewangan berakhir 31 Disember 2010.
Mesyuarat Lembaga berjalan mengikutagenda formal yang teratur dan agendabagi setiap mesyuarat Lembaga dankertas berkaitan butiran agendadikemukakan kepada semua Pengarahuntuk penelitian mereka sebelum tarikhmesyuarat Lembaga. Kertas mesyuaratyang diedarkan kepada para Pengarahmerangkumi perincian rancanganperniagaan dan cadangan korporatserta dokumen sokongan berkaitanseperti nasihat profesional daripadapeguam atau penasihat. Dengan caraini Pengarah boleh meneliti kertasLembaga dan menilai isu-isu yang akandibincangkan dalam mesyuaratLembaga sebelum tarikh mesyuarat.
Lembaga boleh berhubung secaralangsung dengan Pengurusan Kanandan mendapatkan sebarang maklumatberkaitan Syarikat dalam menjalankantanggungjawab mereka. Pengarahboleh meminta mereka dibekalkandengan butir atau penjelasanselanjutnya tentang hal-hal yangdibentangkan dalam mesyuaratLembaga. Pegawai Pengurusan Kanandipanggil menghadiri mesyuaratLembaga untuk memaklumkanperkembangan terkini berkaitanportfolio masing-masing dan untukmenjelaskan cadangan yangdikemukakan untuk pertimbanganLembaga. Penasihat profesional,akauntan dan peguam yang dilantikoleh Syarikat untuk memberi nasihatmengenai cadangan-cadangan korporatyang akan dilaksanakan oleh Syarikatakan dijemput menghadiri mesyuaratLembaga untuk memberi pandangan
Dalam tahun kewangan berakhir 31Disember 2010, Lembagabermesyuarat sebanyak 12 kali danrekod kehadiran ahli-ahli Lembagadibentangkan seperti berikut:
Nama Pengarah Kehadiran
Shamsul Saad 11/12
Dato’ Kho Poh Eng 11/11(Dilantik pada 4/2/2010)
Koh Pho Wat 11/11(Dilantik pada 4/2/2010)
Ganesan Sundaraj 11/11(Dilantik pada 4/2/2010)
Surya Hidayat 10/11Abd Malik(Dilantik pada 4/2/2010)
Raja Anuar Raja 9/9Abu Hassan(dilantik pada 18/3/2010)
Idris Zaidel 8/9(Dilantik pada 23/4/2010)
Hamdan Rasid 2/4(Dilantik pada 20/7/2010)
Pendidikan dan Latihan ParaPengarah
Kumpulan menyedari bahawapendidikan berterusan adalah pentingbagi ahli-ahli Lembaga untuk
Petra Perdana Berhad62
Kenyataan Lembaga Pengarah (samb)
Pengarah Kaedah Tajuk Latihan TempohLatihan Latihan
Shamsul Saad Seminar Menggalakkan Agenda Urus Tadbir Korporat – Meninggikan Pencapaian 1 hari
Raja Anuar Raja Seminar Piawaian Pelaporan Kewangan Malaysia – Perkembangan dan Pengemaskinian 2 hariAbu Hassan
Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Seminar Menguruskan Aset Di Bawah IFRS/FRS 2 hari
Idris Zaidel Seminar Piawaian Pelaporan Kewangan Malaysia – Perkembangan dan Pengemaskinian 2 hari
Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat-syarikat Tersenarai Awam 1½ hari
Dato’ Kho Poh Eng Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Koh Pho Wat Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Surya Hidayat Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hariAbd Malik
Ceramah Ceramah Urus Tadbir Korporat
Hamdan Rasid Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Bengkel Bengkel FRS 139 – Instrumen Kewangan 1 hari
Latihan Cukai Barangan dan Perkhidmatan (GST) bagi Malaysia: 1 hariPendekatan Percukaian yang Betul
Seminar MBA dalam Peruntukan Aset melalui Terappin Financial 2 hari
Persidangan Persidangan Amundi dan Pelaburan 2010 – Forum Pelaburan- 1 hari“Mengharungi Pergolakan Pasaran”
Latihan Membawa Kelainan 2 hari
Ganesan Sundaraj Seminar Penggunaan FRS 139 – Pengiktirafan & Pengukuran Instrumen Kewangan 1 hari
berkenaan. Semua Pengarah termasukPengarah yang baru dilantik telahselesai mengikuti Program AkreditasiMandatori selaras dengan SyaratPenyenaraian Bursa Securities dan telahdiberi taklimat oleh Pengurusanmengenai operasi dan dasar-dasar
meningkatkan wawasan dalam aspekkeadaan ekonomi, kemajuan teknologidan peraturan semasa. Para Pengarahdigalakkan menghadiri programpendidikan secara berterusan untukmeningkatkan kemahiran danpengetahuan mereka, di mana
Syarikat untuk membiasakan merekadengan perniagaan Syarikat.
Dalam tahun kewangan berakhir 31Disember 2010, Pengarah-pengarahberikut telah menghadiri latihansebagaimana dinyatakan di bawah:
63laporan tahunan2010annual report
i. kemahiran, pengetahuan,kepakaran dan pengalaman;
ii. ketokohan profesional;iii. ketulusan; daniv. bagi calon jawatan Pengarah
Bebas Bukan Eksekutif,jawatankuasa pelantikan jugaharus menilai keupayaan calonuntuk menjalankantanggungjawab/ peranansebagaimana yang diharapkandaripada Pengarah BebasBukan Eksekutif.
c) Menilai secara berterusan prestasiPengarah, Lembaga secara amnya,Jawatankuasa Lembaga dansumbangan setiap Pengarah.
d) Mencalonkan Pengarah untukmengisi kerusi JawatankuasaLembaga.
e) Menyemak semula setiap tahungabungan kemahiran danpengalaman Lembaga dan ciri laintermasuk kecekapan teras yangharus disumbang oleh PengarahBukan Eksekutif kepada Lembaga.
f) Mengesyorkan kepada Lembagapenyambungan (atau penamatan)perkhidmatan Pengarah Eksekutifdan Pengarah yang tiba masanyauntuk bersara mengikut giliran.
g) Mensesuaikan dan mendidikPengarah baru tentang sifat
Pelantikan Ahli Lembaga danTerma Rujukan JawatankuasaPelantikan
Cadangan pelantikan ahli Lembagabaru selain daripada yang dicalonkanoleh pemegang saham bagi pelantikanpada Mesyuarat Agung Tahunan (AGM)dan cadangan pemilihan semulaPengarah sedia ada yang ingin dilantiksemula atau dipilih semula dalam AGMSyarikat akan dikaji dan dinilai olehJawatankuasa Pelantikan. Susulan itu,Jawatankuasa Pelantikan mengemukakansyor berhubung cadangan pelantikanatau pemilihan semula Pengarahberkenaan kepada Lembaga untukmendapatkan kelulusan. JawatankuasaPelantikan semuanya terdiri daripadaPengarah Bebas Bukan Eksekutif.
Tanggungjawab JawatankuasaPelantikan adalah seperti berikut:
a) Memberi perhatian secaraberterusan kepada struktur, saiz dankomposisi Lembaga dan membuatcadangan kepada Lembagaberhubung sebarang penyelarasanyang difikirkan perlu.
b) Mencadangkan calon-calon bagisemua jawatan pengarah kepadaLembaga Pengarah bagi lantikanoleh pemegang saham atauLembaga, dengan mengambil kirakelayakan calon dari segi:
perniagaan, isu-isu semasa dalamSyarikat dan strategi korporat,harapan Syarikat berkaitansumbangan Pengarah dantanggungjawab Pengarahsecara amnya.
Selepas menjalankan kajian tahunannyabaru-baru ini, Jawatankuasa Pelantikanberpuas hati bahawa saiz Lembagaadalah memadai bagi membolehkanLembaga menjalankan peranan dantanggungjawabnya dengan berkesanbagi manfaat Syarikat danperniagaannya dan bahawa wujudgabungan kemahiran dan kecekapanteras yang sesuai dalam komposisiLembaga. Jawatankuasa Pelantikanberpuas hati bahawa semua AhliLembaga benar-benar layak untukmemegang jawatan mereka sebagaiPengarah Syarikat dengan mengambilkira kelayakan akademik danprofesional, pengalaman dan kualitimasing-masing.
Selepas menjalankan kajian tahunannyabaru-baru ini juga, JawatankuasaPelantikan memutuskan bahawa dalamtahun kewangan berakhir 31 Disember2010 semua Pengarah telah menerimalatihan yang berkaitan dan bergunakepada Lembaga.
Mesyuarat Jawatankuasa Pelantikandiadakan sekiranya dan apabiladiperlukan.
Petra Perdana Berhad64
Kenyataan Lembaga Pengarah (samb)
bagi setiap Pengarah Eksekutif,dengan mendapatkan nasihat pihakluar jika perlu.
b) Mencadangkan kepada Lembagasebarang skim bayaran yangdikaitkan dengan prestasi, bagipara Pengarah Eksekutif.
c) Mengkaji skop kontrakperkhidmatan Pengarah Eksekutif.
d) Mempertimbangkan pelantikanpenasihat atau perunding tertentubagi menyediakan perkhidmatanyang diperlukan dalampelaksanaan tugasnya.
Mesyuarat Jawatankuasa Imbuhandiadakan sekiranya dan apabiladiperlukan.
Pelantikan Semula danPemilihan Semula Pengarah
Tataurusan Syarikat memperuntukkanbahawa pada setiap mesyuarat agungtahunan, satu pertiga daripada paraPengarah sedia ada dan yang dilantikdalam tahun kewangan berkenaan akanbersara daripada jawatannya dan akanlayak bagi pemilihan semula. Tataurusanini selanjutnya memperuntukkanbahawa semua Pengarah akan bersaradaripada jawatan sekurang-kurangnyasekali dalam setiap tiga (3) tahun tetapimereka layak menyertai pemilihan semula.
Imbuhan Pengarah dan TermaRujukan JawatankuasaImbuhan
Jawatankuasa Imbuhan menjalan kajianke atas keseluruhan dasar imbuhan bagipara Pengarah Eksekutif dan selepas itumengemukakan syor untuk kelulusanLembaga. Jawatankuasa Imbuhan danLembaga memastikan bahawa dasarimbuhan Syarikat kekal menyokongobjektif korporat Syarikat dan selarasdengan kepentingan pemegang sahamdan bahawa pakej imbuhan PengarahEksekutif cukup memuaskan untukmenarik dan mengekalkan individuyang berwibawa.
Lembaga secara keseluruhannyamenentukan imbuhan para PengarahBukan Eksekutif, dengan setiapPengarah tidak mencampuri keputusanLembaga dalam penetapan imbuhanmasing-masing. Pengarah BukanEksekutif dibayar yuran tahunan danelaun kehadiran bagi setiap mesyuaratLembaga yang dihadirinya.
Jawatankuasa Imbuhan besarnya terdiridaripada Pengarah Bebas BukanEksekutif.
Tanggungjawab Jawatankuasa Imbuhanadalah seperti berikut:
a) Mencadangkan kepada Lembagatentang rangka kerja imbuhan danpakej imbuhan Pengarah Eksekutif
Jawatankuasa Lembaga
Lembaga telah menubuhkanJawatankuasa-Jawatankuasa Lembagabagi membantunya dalammengendalikan Syarikat. Fungsi, bidangtugas dan bidang kuasa JawatankuasaLembaga ditentukan dengan jelas olehLembaga.
Jawatankuasa-Jawatankuasa Lembagaadalah seperti berikut:
• Jawatankuasa Audit• Jawatankuasa Pelantikan• Jawatankuasa Imbuhan
65laporan tahunan2010annual report
Komposisi Jawatankuasa Lembaga adalah seperti berikut:
Jawatankuasa Jawatankuasa JawatankuasaAudit Pelantikan Imbuhan
Ganesan Sundaraj Pengerusi Ahli Ahli
Raja Anuar Raja Abu Hassan Ahli Pengerusi Ahli
Idris Zaidel Ahli Ahli Pengerusi
Dato’ Kho Poh Eng – – Ahli
Imbuhan Pengarah
Jawatankuasa Imbuhan telah diberi tanggungjawab mengkaji dan mencadangkan kepada Lembaga pakej imbuhan dan lain-lainterma kerja bagi Pengarah Eksekutif.
Butiran imbuhan Pengarah Syarikat bagi tahun kewangan berakhir 31 Disember 2010 adalah seperti berikut:
Emolumen Manfaat CarumanKumpulan Yuran Lain Seumpamanya Pesaraan Jumlah
(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)
Pengarah Eksekutif 199 4,004 259 23 4,485
Pengarah Bukan Eksekutif 172 20 – – 192
Bilangan Pengarah mengikut kumpulan jumlah imbuhan masing-masing adalah seperti berikut:
Bilangan PengarahEksekutif Bukan Eksekutif
Di bawah RM50,000 1 6
RM50,001 hingga RM100,000 – 1
RM100,001 hingga RM150,000 1 –
RM550,001 hingga RM600,000 1 –
RM1,000,001 hingga RM1,050,000 1 –
RM1,050,001 hingga RM1,100,000 1 –
RM1,650,001 hingga RM1,700,000 1 –
6 7
Petra Perdana Berhad66
Kenyataan Lembaga Pengarah (samb)
pelbagai jenis risiko. Sifat risiko inimenyiratkan kemungkinan berlakunyaperistiwa yang menyebabkan kerugianluar jangka atau tidak dapat dielakkan.Sistem kawalan dalaman Kumpulandirangka untuk memberi jaminanmunasabah, bukan jaminan mutlak,terhadap timbulnya risiko kesilapan,penipuan atau kerugian material. Pihakpengurusan kerap mengadakanmesyuarat bagi tujuan memastikantanggungjawab dalam menguruskanrisiko besar yang dihadapi Kumpulanditangani dengan cara yangmemuaskan dan secara berterusan.
Keberkesanan sistem kawalan dalamanKumpulan dikaji semula olehJawatankuasa Audit dalam mesyuaratsuku tahunannya. Kajian tersebutmeliputi kawalan kewangan, operasidan pematuhan serta fungsi pengurusanrisiko. Bahagian Audit Dalamanmemantau pematuhan dasar-dasar danstandard dan keberkesanan strukturkawalan dalaman seluruh Kumpulan.
Kenyataan Kawalan Dalaman, yangmenyediakan gambaran menyeluruhkeadaan kawalan dalaman Kumpulan,dibentangkan dalam Laporan Tahunan ini.
Jawatankuasa Audit
Selain tugas dan tanggungjawab yangdinyatakan di bawah bidang-bidangtugasnya, Jawatankuasa Audit jugabertindak sebagai satu forum bagiperbincangan mengenai kawalandalaman dan isu-isu pengurusan risikodan ini memanfaatkan kajian Lembagamengenai keberkesanan sistem kawalandalaman dan pengurusan risiko Kumpulan.
AKAUNTABILITI DAN AUDIT
Pelaporan Kewangan
Lembaga komited untuk menyediakanpenilaian prestasi kewangan danprospek Kumpulan yang seimbang,bersih dan bermakna dalam semuakenyataan yang dibuat kepadapemegang kepentingan dan PihakPengawal Selia.
Lembaga dibantu oleh JawatankuasaAudit untuk menyelia proses-prosespelaporan kewangan dan kualitipelaporan kewangan Kumpulan.Jawatankuasa Audit mengkaji danmemantau ketulusan penyata kewangantahunan dan interim Kumpulan. Ia jugamengkaji kewajaran dasar perakaunanKumpulan dan perubahan kepadadasar-dasar ini.
Penyata Tanggungjawab daripada paraPengarah berhubung denganpenyediaan penyata kewangan teraudittahunan Kumpulan dibentangkanseperti berikut.
Kawalan Dalaman
Lembaga bertanggungjawab secarakeseluruhannya dalam pengekalansistem kawalan dalaman yang memberijaminan munasabah terhadapkeberkesanan pelaksanaannya, denganmematuhi undang-undang danperaturan serta prosedur dan garispanduan dalaman.
Saiz Kumpulan dan bentuk operasinyayang kompleks bermakna Kumpulanperlu menerima dan menguruskan
Minit mesyuarat Jawatankuasa Auditdibentangkan kepada Lembaga untukcatatan dan tindakan oleh Lembaga dimana wajar.
Kegiatan yang dijalankan olehJawatankuasa Audit pada tahun kajiandibentangkan di bawah LaporanJawatankuasa Audit di dalam LaporanTahunannya.
Perhubungan dengan JuruauditLuar
Adalah dasar Jawatankuasa Audit untukbermesyuarat dengan juruaudit luarsekurang-kurangnya dua kali setahununtuk membincangkan rancangan auditmereka, penemuan audit dan penyatakewangan Syarikat. Mesyuarat inidiadakan tanpa kehadiran paraPengarah Eksekutif dan Pengurusan.Jawatankuasa Audit juga bermesyuaratdengan juruaudit luar apabila dirasakanperlu berbuat demikian.
Perkhidmatan yang diberikan olehjuruaudit luar termasuk audit berkanun,perkhidmatan audit bukan berkanundan bukan audit tahunan berulang.Terma-terma urusan bagi perkhidmatanini dikaji oleh Jawatankuasa Audit dandiluluskan oleh Lembaga. JawatankuasaAudit meluluskan perkhidmatan bukanaudit lain mengikut kewajaran kes.Dalam meluluskan kes-kes sedemikian,Jawatankuasa Audit mengkajikebebasan dan keobjektifan juruauditluar untuk memastikan ciri itu tidakdikompromi.
67laporan tahunan2010annual report
pemegang saham, bahkan memastikanmereka mendapat maklumat yangkemaskini berkaitan kemajuan danpembangunan perniagaan Kumpulan sertaperkembangan strategik dalam Kumpulan.
Untuk meluaskan penyebaran maklumatkorporat dan kewangan yang sudahdiumumkan, laporan tahunan Syarikat,pengumuman keputusan kewangan sukutahunan Kumpulan, pengumuman danpendedahan yang dituntut oleh SyaratPenyenaraian Bursa Securities semuanyadimuatkan di laman web Syarikat,www.petra.com.my di samping pelbagaimaklumat korporat yang lain.Ketersediaan maklumat yang tepat padamasa ia diperlukan amat penting dalammembuat keputusan pelaburanberhemah. Maklumat yang basi,walaupun menyeluruh dan tepat, kurangnilainya kepada pemegang saham danpelabur. Oleh sebab itu, Kumpulanmeletakkan penyebaran segeramaklumat di antara keutamaannya.
Perhubungan Pelabur
Satu lagi saluran komunikasi pentingdengan pemegang sahamdanmasyarakat pelabur di Malaysiamahupun di luar negara adalahkegiatan perhubungan pelabur yangdijalankan oleh Kumpulan. Kumpulanmempunyai pengikut yang kukuh dikalangan pelabur institusi domestik danantarabangsa, pengurus dana danpenganalisis ekuiti, dan saluranlangsung dengan mereka wujud dalamfungsi perhubungan pelabur Kumpulan.Pegawai yang bertanggungjawab bagifungsi perhubungan pelabur Kumpulanadalah pengurus peringkat palingkanan, yang berupaya memberi
Komunikasi Berkesan denganPemegang Saham
Satu elemen penting urus tadbir yangbaik ialah penampilan ketelusan danakauntabiliti kepada pemegangpelbagai kepentingan. Mendasariobjektif ketelusan dan akauntabiliti iniadalah penyediaan maklumat yangjelas, relevan dan lengkap tepat padamasanya dan mudah dicapai merekayang berhak dan berkepentingan wajar.Memahami hakikat ini, Kumpulanmengekalkan tahap pendedahan dankomunikasi yang tinggi terutamanyadengan pemegang saham dan pelaburmelalui penyediaan maklumat yangjelas, lengkap, tepat pada masanya danmudah diperoleh supaya mereka bolehmembuat keputusan pelaburan yang bijak.
Laporan tahunan Syarikat adalah satusaluran komunikasi penting denganpara pemegang saham dan pelabur.
Wadah penting untuk berkomunikasidan berdialog dengan pemegangsaham adalah mesyuarat agungSyarikat di mana mereka diberi peluangdan masa untuk membangkitkan soalanmengenai perkara-perkara yangterkandung di dalam agenda mesyuaratdengan para Pengarah Syarikatbersedia memberikan jawapan danpenjelasan sewajarnya.
Syarikat mengadakan taklimatberasingan bagi media massa danpenganalisis sekuriti serentak denganpengumuman keputusan suku tahunandan tahunannya. Taklimat media bukansahaja bertujuan memaksimumkanpenyebaran keputusan kewanganKumpulan di kalangan pelabur dan
gambaran dan maklumat bernas danwajar mengenai Kumpulan kepadapelabur dan penyelidik ekuiti.
Kenyataan TanggungjawabPengarah dalam PenyediaanPenyata Kewangan
Menurut Akta Syarikat 1965 (“Akta”),para Pengarah dikehendakimenyediakan penyata kewangan bagisetiap tahun kewangan selaras denganpiawaian perakaunan yang diluluskanuntuk memberi gambaran sebenar dansaksama tentang hal-ehwal Syarikat danKumpulan pada akhir tahun kewangan,dan mengenai keputusan dan alirantunai Syarikat dan Kumpulan bagitahun kewangan.
Para Pengarah bertanggungjawabmemastikan agar Syarikat dan anak-anak syarikat menyimpan rekodperakaunan dengan baik yangmemaparkan kedudukan kewanganSyarikat dan Kumpulan dengan tepatsebagai mematuhi Akta dan piawaianperakaunan yang diluluskan diMalaysia. Selain itu, para Pengarahsecara amnya bertanggungjawabmengambil langkah-langkah tertentuyang munasabah kepada mereka untukmelindungi aset Kumpulan dan untukmengesan dan menghalang penipuandan kepincangan lain.
Petra Perdana Berhad68
Additional Information
UTILISATION OF PROCEEDS RAISED FROM CORPORATE PROPOSAL
a) On 2 July 2010, the Company announced the completion of the placement of 29,760,000 new ordinary shares of RM0.50 each(“PPB Shares”) following the listing of and quotation for the said new PPB Shares on Main Market of Bursa Securities which wereissued and allotted on 30 June 2010 at an issue price of RM1.32 per PPB Share.
The utilisation of proceeds of RM39.28 million from Private Placement as at 29 April 2011 is as follows:
Total IntendedProposed Proposed Actual TimeframeUtilisation Adjustment Utilisation Utilisation for
Purpose RM’000 RM’000 RM’000 RM’000 Utilisation
Payment of charter deposits 19,203 – 19,203 * Refer note
Working capital of Petra 19,780 38 19,818 19,818 12 monthsPerdana Group
Expenses relating to the Placement 300 (38) 262 262 6 months
Total 39,283 – 39,283 20,080
* The utilisation of RM19.2 million is expected to defer as the Company is finalising the financing of the vessel.
b) On 1 November 2010, the Company announced the completion of the renounceable rights issue of 122,760,000 new PPB Shares(“Rights Issue”) following the listing of and quotation for the said new PPB Shares on Main Market of Bursa Securities which wereissued and allotted on 27 October 2010 at an issue price of RM0.59 per PPB Share.
The proceeds of RM72.43 million from Rights Issue have been fully utilised.
69laporan tahunan2010annual report
Sanctions and/or Penalties
There were no sanctions and/orpenalties imposed on the Companyand/or its subsidiaries, directors ormanagement by any regulatory bodies.
Non-Audit Fees
The amount of non-audit fees incurredfor services rendered to the Companyand its subsidiaries for the financial yearended 31 December 2010 by theCompany’s auditors, or a firm orcompany affiliated to the auditors’ firm isRM161,000.
Profit Guarantee
The Company did not receive any profitguarantee during the financial yearended 31 December 2010.
Share Buy-Back
The Company did not undertake anyshare buy-back exercise during thefinancial year under review.
Options, Warrants orConvertible Securities
During the financial year ended31 December 2010, the Companyissued 61,379,785 warrants on thebasis of 1 warrant for every 2 new PPBshares subscribed in the Rights Issue.None of the warrants were exercisedduring the financial year.
American Depository Receipt(ADR) or Global DepositoryReceipt (GDR)
The Company did not sponsor any ADRor GDR programme.
Material Contracts
There were no material contracts enteredinto by the Company or its subsidiariesinvolving the directors’ and/or majorshareholders’ interest for the financialyear ended 31 December 2010.
Revaluation Policy
The Company did not adopt anyrevaluation policy on its landedproperties nor revalued its landedproperties during the financial yearunder review.
Variation in Results
There was no material variancesbetween the audited results for thefinancial year ended 31 December 2010and the unaudited resultspreviously announced.
Petra Perdana Berhad70
Maklumat Tambahan
PENGGUNAAN DANA DARIPADA CADANGAN KORPORAT
a) Pada 2 Julai 2010, Syarikat mengumumkan penyempurnaan penempatan 29,760,000 saham biasa baru bernilai RM0.50sesaham (“saham PPB”) berikutan penyenaraian dan sebut harga di Pasaran Utama Bursa Securities saham-saham baru PPByang diterbitkan dan diperuntukkan pada 30 Jun 2010 pada harga terbitan RM1.32 bagi setiap saham.
Penggunaan perolehan sebanyak RM39.28 juta daripada Penempatan Swasta pada 29 April 2011 adalah seperti berikut:
Jangka MasaJumlah Penggunaan
Cadangan Cadangan Penggunaan yangTujuan Penggunaan Pelarasan Penggunaan Sebenar Dihasratkan
RM’000 RM’000 RM’000 RM’000 RM’000
Bayaran deposit catar 19,203 – 19,203 * Rujuk Nota
Modal Kerja Kumpulan Petra Perdana 19,780 38 19,818 19,818 12 bulan
Perbelanjaan berkaitan dengan 300 (38) 262 262 6 bulanPenempatan
Jumlah 39,283 – 39,283 20,080
* Penggunaan sebanyak RM19.2 juta dijangka akan ditunda kerana Syarikat sedang menyelesaikan urusan pembiayaan kapal.
b) Pada 1 November 2010, Syarikat mengumumkan penyempurnaan terbitan hak boleh tolak sebanyak 122,760,000 Saham PBBbaru (“Terbitan Hak”) berikutan penyenaraian dan sebut harga di Pasaran Utama Bursa Securities Saham PPB baru yangditerbitkan dan diperuntukkan pada 27 Oktober 2010 pada harga terbitan RM0.59 setiap saham.
Perolehan sebanyak RM72.43 juta daripada Terbitan Hak telah digunakan sepenuhnya.
71laporan tahunan2010annual report
Sekatan dan/atau Denda yangdikenakan
Tiada sebarang sekatan dan/ataudenda yang dikenakan oleh badanpengawal selia ke atas Syarikatdan/atau anak-anak syarikat, pengarahatau pengurusannya.
Yuran Bukan Audit
Yuran bukan audit yang ditanggungbagi perkhidmatan yang disediakanoleh juruaudit Syarikat atau firma yangsepakat dengan juruaudit itu kepadaSyarikat dan anak-anak syarikat bagitahun kewangan berakhir 31 Disember2010 berjumlah RM161,000.
Jaminan Keuntungan
Syarikat tidak menerima sebarangjaminan keuntungan pada tahunkewangan berakhir 31 Disember 2010.
Belian Balik Saham
Syarikat tidak melaksanakan sebarangPembelian Balik Saham pada tahunkewangan yang ditinjau.
Opsyen, Waran atau SekuritiBoleh Tukar
Dalam tahun kewangan berakhir31 Disember 2010, Syarikat telahmenerbitkan 61,379,785 waran padanisbah 1 waran bagi setiap 2 sahambaru PPB yang dilanggan susulanTerbitan Hak. Tidak ada waran yangdilaksanakan dalam tahun kewangan itu.
Resit Depositori Amerika (ADR)atau Resit Depositori Global(GDR)
Syarikat tidak menaja sebarangprogram ADR atau GDR.
Kontrak Penting
Tiada sebarang kontrak penting telahdimeterai oleh Syarikat mahupun mana-mana anak syarikatnya yang melibatkankepentingan Pengarah dan/ataupemegang saham utama bagi tahunkewangan berakhir 31 Disember 2010.
Dasar Penilaian Semula
Syarikat tidak menerima pakai sebarangdasar penilaian semula harta tanahnyaatau menilai semula harta tanahnyadalam tahun kewangan yang ditinjau.
Perbezaan Keputusan
Tiada perbezaan penting antarakeputusan beraudit bagi tahunkewangan berakhir 31 Disember 2010dan keputusan belum diaudit yangdiumumkan terdahulu.
Petra Perdana Berhad72
Corporate ResponsibilityTanggungjawab Korporat
the OSV business and a respected brandname in our regional market, we havethe added responsibility of ensuring wemaintain stringent compliance withinternational HSSE standards. This willnot only help strengthen the PetraPerdana brand but also Malaysia’sinternational standing in the oil and gasindustry. All these will remain priorityareas for us as we work towards turningaround and moving up to the next levelof growth.
As part of our contributions to asustainable business environment, PetraPerdana is also a very active participantin the Malaysian Oil & Gas ServicesCouncil (“MOGSC”). MOGSC is thelargest grouping of services companiesin the oil & gas sector in the country. It isa well-recognized, effective groupingwhich even involves participation ofstakeholders such as PETRONAS,MATRADE and various other agencies
In FY2010, our CR efforts were primarilydirected towards Workplace andEnvironment initiatives. We worked tostrengthen the skill set and expertise ofour workforce so that they in turn couldhelp us deliver on our CR commitment toour stakeholders. We continued toprioritise good Health, Safety, Security &Environmental (“HSSE”) practices giventhe high-risk and hazardous workenvironment in which we operate. Beingthe Malaysian leader in our segment of
The Group believes that responsiblecorporate practices and the agenda ofsustainability are essential to our long-term business growth. As such, weremain committed to undertakingexemplary corporate conduct thatcreates sustainable value for all ourstakeholders. Our Framework forSustainability (covering the dimensionsof the Workplace, Environment,Community and Marketplace) spells outsome of the impactful corporateresponsibility (“CR”) initiatives that weare undertaking.
domestic and international in certainactivities at various levels to spur thedevelopment of technology transfer,value creation and commercial growthfor the overall oil & gas services industry.The effectiveness of MOGSC is such thatit is the sole representative of the oil &gas services industry acknowledged byPEMANDU, the Government’s driver ofour nation’s Economic TransformativeProgramme.
73laporan tahunan2010annual report
memulihkan perniagaan Kumpulansebelum mencatat pertumbuhanseterusnya.
Sebagai sebahagian daripadasumbangan kami kepada persekitaranperniagaan yang mapan, Petra Perdanasangat aktif dalam Malaysian Oil & GasServices Council (“MOGSC”), persatuanterbesar syarikat perkhidmatan sektorminyak & gas di negara ini. MOGSCmendapat pengiktirafan tertinggi danmerupakan kelompok pengusahaindustri paling berkesan, yang turutmelibatkan penyertaan pelbagai pihakberkepentingan seperti PETRONAS,MATRADE dan beberapa agensidomestik dan antarabangsa yangmewakili kegiatan tertentu padapelbagai peringkat untuk merangsangpembangunan teknologi, pemindahanteknologi, penghasilan nilai danpertumbuhan perdagangan bagiindustri perkhidmatan minyak & gassecara keseluruhannya. MOGSC adalahwakil tunggal industri perkhidmatanminyak & gas yang diperakui olehPEMANDU, pemacu ProgramTransformasi Ekonomi negara.
membantu menyampaikan komitmen CRkami kepada pelbagai pihakberkepentingan. Kami sentiasamengutamakan amalan Kesihatan,Keselamatan, Jaminan & Alam Sekitar(“HSSE”) dengan mengambil kirapersekitaran kerja yang berisiko tinggidan berbahaya yang menjadi medanoperasi kami. Sebagai peneraju segmenperniagaan OSV di Malaysia dansebagai jenama yang disegani dipasaran serantau, kami mempunyaitanggungjawab tambahan dalammemastikan standard HSSEantarabangsa yang ketat sentiasadipatuhi. Ini bukan sahaja akanmembantu mengukuhkan jenama PetraPerdana tetapi juga kedudukanMalaysia di mata dunia dalam industriminyak dan gas. Semua ini akan kekalmenjadi bidang keutamaan kamimemandangkan kami sedang berusaha
Kumpulan percaya bahawa amalankorporat bertanggungjawab danagenda kemapanan adalah pentingkepada pertumbuhan perniagaanjangka panjang. Oleh yang demikian,kami kekal komited untuk melaksanakantatacara korporat contoh yangmewujudkan nilai mapan bagi semuapemegang kepentingan kami. RangkaKerja Kemapanan kami (meliputidimensi Persekitaran Tempat Kerja,Alam Sekitar, Masyarakat dan Pasaran)menjelaskan beberapa inisiatiftanggungjawab korporat (“CR”) yangkami laksanakan.
Pada FY2010, usaha CR kamidihalakan terutamanya ke arah inisiatifTempat Kerja dan Alam Sekitar. Kamiberusaha untuk mengukuhkankemahiran dan kepakaran tenaga kerjakami, supaya mereka seterusnya dapat
Petra Perdana Berhad74
Directors’ Report 75
Statement by Directors 81
Statutory Declaration 81
Independent Auditors’ Report 82
Statements of Financial Position 84
Statements of Comprehensive Income 86
Statement of Changes in Equity 87
Statements of Cash Flows 89
Notes to the Financial Statements 92
financial statements
752010annual report
The directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial year ended31 December 2010.
PRINCIPAL ACTIVITIES
The Company is principally an investment holding company and is also engaged in the provision of administrative and managementservices to its subsidiaries. The principal activities of the subsidiaries are described in Note 5 to the financial statements. There have beenno significant changes in the nature of these activities during the financial year.
RESULTS
The Group The CompanyRM'000 RM'000
Loss after taxation attributable to ownersof the Company (72,002) (16,995)
DIVIDENDS
Since the end of the previous financial year, the Company paid a first and final dividend of 2.0 sen per ordinary share of RM0.50 each,less tax at 25% on 297,600,000 ordinary shares amounting to RM4,464,000 in respect of the financial year ended 31 December 2009.
The directors do not recommend the payment of any dividend in respect of the financial year ended 31 December 2010.
RESERVES AND PROVISIONS
All material transfers to or from reserves or provisions during the financial year are disclosed in the financial statements.
Directors’ Report
ISSUES OF SHARES AND DEBENTURES
During the financial year,
(a) there was no change in the authorised share capital of the Company;
(b) the Company increased its issued and paid-up share capital from RM148,800,000 to RM225,060,000 by:
(i) an issuance of 29,760,000 new ordinary shares of RM0.50 each for cash for the purpose of payment of charter deposits andworking capital use pursuant to the Company’s private placement at a subscription price of RM1.32 per share on 30 June 2010.The new shares were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 2 July2010; and
(ii) an issuance of 122,760,000 new ordinary shares of RM0.50 each for cash for the purpose of repayment of borrowings andworking capital use pursuant to the Company’s renounceable rights issue with free detachable warrants (“Rights Issue”) on thebasis of three (3) rights shares (“Rights Shares”) for every eight (8) existing ordinary shares of RM0.50 each held in theCompany together with 61,379,785 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every two (2)Rights Shares subscribed at an issue price of RM0.59 per Right Share on 27 October 2010. The new shares were listed andquoted on the Main Market of Bursa Securities on 1 November 2010.
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing ordinary shares of theCompany; and
(c) there were no issues of debentures by the Company.
OPTIONS GRANTED OVER UNISSUED SHARES
During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company exceptfor the issuance of Warrants in conjunction with the Rights Issue above.
Directors’ Report (cont’d)
76 Petra Perdana Berhad
WARRANTS 2010/2015
The Company had on 27 October 2010 issued 61,379,785 free Warrants in conjunction with the Rights Issue. The Warrants areconstituted by a Deed Poll dated 15 September 2010.
The salient terms of the Warrants 2010/2015 are as follows:
(a) Each Warrant entitles the registered holder to subscribe for one (1) new ordinary share of RM0.50 each in the Company at any timeon or before the maturity date, 26 October 2015, falling five (5) years from the date of issue of the Warrants. Unexercised Warrantsafter the exercise period will thereafter lapse and cease to be valid;
(b) The exercise price of the Warrants is fixed at RM1.00 per Warrant;
(c) The new ordinary shares to be issued upon the exercise of the Warrants shall rank pari passu in all respects with the existing ordinaryshares of the Company; and
(d) The Warrants were listed and quoted on the Main Market of Bursa Securities on 1 November 2010.
The movements of the Warrants during the financial year are as follows:
Entitlement For Ordinary Shares Of RM0.50 EachIssued On At27.10.2010 Exercised Cancelled 31.12.2010
Number of unexercised Warrants 61,379,785 – – 61,379,785
BAD AND DOUBTFUL DEBTS
Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain thataction had been taken in relation to the writing off of bad debts and the making of allowance for impairment losses on receivables, andsatisfied themselves that there are no known bad debts and that adequate allowance had been made for impairment losses on receivables.
At the date of this report, the directors are not aware of any circumstances that would require the writing off of bad debts, or the additionalallowance for impairment losses on receivables in the financial statements of the Group and of the Company.
CURRENT ASSETS
Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain that anycurrent assets other than debts, which were unlikely to be realised in the ordinary course of business, including their value as shown in theaccounting records of the Group and of the Company, have been written down to an amount which they might be expected so to realise.
At the date of this report, the directors are not aware of any circumstances which would render the values attributed to the current assetsin the financial statements 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 existingmethods of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate.
Directors’ Report (cont’d)
2010annual report 77
CONTINGENT AND OTHER LIABILITIES
The contingent liabilities are disclosed in Note 41 to the financial statements. At the date of this report, there does not exist:
(a) any charge on the assets of the Group and of the Company that has arisen since the end of the financial year which secures theliabilities of any other person; or
(b) any contingent liability of the Group and of the Company which has arisen since the end of the financial year.
No contingent or other liability of the Group and of the Company has become enforceable or is likely to become enforceable within theperiod of twelve (12) months after the end of the financial year which, in the opinion of the directors, will or may substantially affect theability of the Group and 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 statementsof the Group and of the Company which would render any amount stated in the financial statements misleading.
ITEMS OF AN UNUSUAL NATURE
The results of the operations of the Group and of the Company during the financial year were not, in the opinion of the directors,substantially affected by any item, transaction or event of a material and unusual nature other than the effects arising from the adoptionof FRS 139 Financial Instruments: Recognition and Measurement which had increased the Group and the Company’s net losses byRM5,915,728 and RM192,549 respectively.
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 amaterial and unusual nature likely, in the opinion of the directors, to affect substantially the results of the operations of the Group and ofthe Company for the financial year.
EMPLOYEES' SHARE OPTION SCHEME ("ESOS")
The Group's ESOS was approved by the Securities Commission on 16 August 2001 and shall be in force for a period of ten (10) yearscommencing from 12 March 2002.
The ESOS was approved by the shareholders at an Extraordinary General Meeting held on 31 January 2002.
During the financial year, no options under the ESOS were granted.
DIRECTORS
The directors who served since the date of the last report are as follows:
Shamsul Bin SaadDato’ Kho Poh EngKoh Pho WatSurya Hidayat Bin Abdul MalikGanesan A/L SundarajIdris Bin ZaidelRaja Anuar Bin Raja Abu HassanHamdan Bin Rasid (Appointed on 20.7.2010)
Directors’ Report (cont’d)
78 Petra Perdana Berhad
DIRECTORS’ INTERESTS
According to the register of directors’ shareholdings, the interests of directors holding office at the end of the financial year in shares inthe Company and its related corporations during the financial year are as follows:
Number Of Ordinary Shares Of RM0.50 EachAt At
1.1.2010 Bought Sold 31.12.2010The Company
Direct InterestsShamsul Bin Saad 8,425,000 3,159,375 – 11,584,375Dato’ Kho Poh Eng 14,195,630 5,689,448 – 19,885,078Koh Pho Wat 15,649,330 6,868,401 – 22,517,731
Deemed InterestsShamsul Bin Saad – 9,625 – 9,625#
Dato’ Kho Poh Eng 71,067 28,933 – 100,000#
Koh Pho Wat 226,032 84,968 – 311,000#
Number Of Warrants 2010/2015Issued On At27.10.2010 Bought Exercised 31.12.2010
Direct InterestsShamsul Bin Saad 1,579,687 – – 1,579,687Dato’ Kho Poh Eng 2,844,724 – – 2,844,724Koh Pho Wat 3,434,200 – – 3,434,200
Deemed InterestsShamsul Bin Saad 1,312 – – 1,312#
Dato’ Kho Poh Eng 14,466 – – 14,466#
Koh Pho Wat 42,484 – – 42,484#
# Deemed interest pursuant to Section 134(12)(c) of the Companies Act 1965.
The other directors holding office at the end of the financial year had no interest in shares in the Company and its related corporationsduring the financial year.
DIRECTORS’ BENEFITS
Since the end of the previous financial year, no director has received or become entitled to receive any benefit (other than a benefitincluded in the aggregate amount of emoluments received or due and receivable by directors as shown in the financial statements, or thefixed salary of a full-time employee of the Company) by reason of a contract made by the Company or a related corporation with thedirector or with a firm of which the director is a member, or with a company in which the director has a substantial financial interest.
Neither during nor at the end of the financial year was the Group or the Company a party to any arrangements whose object is to enablethe directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate.
Directors’ Report (cont’d)
2010annual report 79
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
The significant events during the financial year of the Group and of the Company are disclosed in Note 46 to the financial statements.
SIGNIFICANT EVENT OCCURRING AFTER THE REPORTING PERIOD
The significant event occurring after the reporting period of the Group and of the Company is disclosed in Note 47 to the financial statements.
AUDITORS
The auditors, Messrs. Crowe Horwath, have expressed their willingness to continue in office.
Signed in accordance with a resolution of the directors dated 28 April 2011.
Koh Pho Wat
Shamsul Bin Saad
Directors’ Report (cont’d)
80 Petra Perdana Berhad
We, Koh Pho Wat and Shamsul Bin Saad, being two of the directors of Petra Perdana Berhad, state that, in the opinion ofthe directors, the financial statements set out on pages 84 to 162 are drawn up in accordance with Financial Reporting Standardsand the Companies Act 1965 in Malaysia so as to give a true and fair view of the state of affairs of the Group and of the Companyat 31 December 2010 and of their results and cash flows for the financial year ended on that date.
The supplementary information set out in Note 49 on page 163, which is not part of the financial statements, is prepared in all materialrespects, in accordance with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Contextof Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants andthe directive of Bursa Malaysia Securities Berhad.
Signed in accordance with a resolution of the directors dated 28 April 2011.
Koh Pho Wat Shamsul Bin Saad
Statutory DeclarationI, Soon Fook Kian, being the officer primarily responsible for the financial management of Petra Perdana Berhad, do solemnly andsincerely declare that the financial statements set out on pages 84 to 162 are, to the best of my knowledge and belief, correct, and I makethis 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 )Soon Fook Kian, at Kuala Lumpur in )the Federal Territory on this )28 April 2011 ) Soon Fook Kian
Before me
COMMISIONER OF OATHSKuala Lumpur
Statement by Directors
2010annual report 81
Report on the Financial Statements
We have audited the financial statements of Petra Perdana Berhad, which comprise the statements of financial position as at 31 December2010 of the Group and of the Company, and the statements of comprehensive income, statements of changes in equity and statementsof cash flows of the Group and of the Company for the financial year then ended, and a summary of significant accounting policies andother explanatory information, as set out on pages 84 to 162.
Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation of financial statements that give a true and fair view in accordance withFinancial Reporting Standards and the Companies Act 1965 in Malaysia, and for such internal control as the directors determine isnecessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance withapproved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and performthe audit to obtain reasonable assurance about 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. Theprocedures selected depend on our judgement, 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 offinancial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but notfor the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluatingthe 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.
Opinion
In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and theCompanies Act 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company as of 31December 2010 and of their financial performance and cash flows for the financial year then ended.
Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act 1965 in Malaysia, we also report the following:
(a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company and its subsidiariesof which we have acted as auditors have been properly kept in accordance with the provisions of the Act.
(b) We have considered the financial statements and the auditors’ reports of all the subsidiaries of which we have not acted as auditors,which are indicated in Note 5 to the financial statements.
(c) We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Company’s financial statementsare in form and content appropriate and proper for the purposes of the preparation of the financial statements of the Group andwe have received satisfactory information and explanations required by us for those purposes.
(d) The audit reports on the financial statements of the subsidiaries did not contain any qualification or any adverse comment made underSection 174(3) of the Act.
Independent Auditors’ ReportTo the Members of Petra Perdana Berhad
82 Petra Perdana Berhad
Report on Other Legal and Regulatory Requirements (Cont’d)
The supplementary information set out in Note 49 on page 163 is disclosed to meet the requirement of Bursa Malaysia Securities Berhadand is not part of the financial statements. The directors are responsible for the preparation of the supplementary information in accordancewith Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuantto Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants ("MIA Guidance") and thedirective of Bursa Malaysia Securities Berhad. In our opinion, the supplementary information is prepared, in all material respects, inaccordance with the MIA Guidance and the directive of Bursa Malaysia Securities Berhad.
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 inMalaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report.
Crowe Horwath Poon Yew HoeFirm No : AF 1018 Approval No : 956/04/12 (J)Chartered Accountants Chartered Accountant
28 April 2011
Kuala Lumpur
Independent Auditors’ Report (cont’d)To the Members of Petra Perdana Berhad
2010annual report 83
The Group The CompanyRestated Restated Restated Restated
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
ASSETS
NON-CURRENT ASSETS
Investment in subsidiaries 5 – – – 307,461 307,406 346,012Investment in an associate 6 88,420 90,319 – 19,233 19,233 –Property, plant and equipment 7 400,934 460,698 659,068 6,521 8,537 43,041Prepaid lease payments – – 7,275 – – –Amount owing by subsidiaries 8 – – – 400,949 353,576 301,495Amount owing by an associate – – – – – 51,649Refundable deposits 9 90,930 98,221 58,492 – – 21,999Intangible assets 10 27,507 27,507 27,507 – – –Deferred tax assets 11 46 46 62 46 46 46
607,837 676,791 752,404 734,210 688,798 764,242
CURRENT ASSETS
Inventories 12 6,908 5,533 50,299 – – –Receivables 13 99,293 97,827 304,061 1,740 15,104 10,636Amount owing by contract customers – – 6,471 – – –Amount owing by subsidiaries 8 – – – 271 27 8Amount owing by related parties 14 36,614 38,194 – 259 259 –Amount owing by an associate 15 – 51,649 – – 51,649 10,000Tax recoverable 3,758 5,057 7,145 3,102 3,900 4,482Fixed deposits with licensed banks 16 51,188 158,437 337,423 47,360 152,392 215,236Cash and bank balances 18,293 21,288 33,348 3,018 8,270 781
216,054 377,985 738,747 55,750 231,601 241,143Non-current asset classified as
held for sale 17 – 86,361 4,501 – – –
TOTAL ASSETS 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
The annexed notes form an integral part of these financial statements.
Statements of Financial PositionAt 31 December 2010
84 Petra Perdana Berhad
The Group The CompanyRestated Restated Restated Restated
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
EQUITY AND LIABILITIES
EQUITYShare capital 18 225,060 148,800 148,800 225,060 148,800 148,800Reserves 19 278,975 414,869 396,820 232,056 219,754 118,824
TOTAL EQUITY ATTRIBUTABLETO OWNERS OF THE COMPANY 504,035 563,669 545,620 457,116 368,554 267,624
MINORITY INTERESTS 217 580 118,162 – – –
TOTAL EQUITY 504,252 564,249 663,782 457,116 368,554 267,624
NON-CURRENT LIABILITIESDeferred taxation 21 4,048 2,060 30,908 – – –Long-term borrowings 22 146,088 227,063 295,280 105,108 227,000 295,000Derivative liability 25 3,070 – – – – –Payables 26 260 241 511 214 201 231
153,466 229,364 326,699 105,322 227,201 295,231
CURRENT LIABILITIESPayables 26 66,472 125,056 127,811 8,573 8,804 15,336Amount owing to subsidiaries 8 – – – 123,839 95,862 64,194Amount owing to related parties 14 33 236 – 32 3 –Amount owing to an associate 15 – 1,975 – – 1,975 –Amount owing to contract customers – – 9,625 – – –Short-term borrowings 27 98,808 218,019 366,023 95,078 218,000 363,000Provision for taxation 860 2,238 1,712 – – –
166,173 347,524 505,171 227,522 324,644 442,530
TOTAL LIABILITIES 319,639 576,888 831,870 332,844 551,845 737,761
TOTAL EQUITY AND LIABILITIES 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
NET ASSETS PERORDINARY SHARE (RM) 28 1.12 1.89
The annexed notes form an integral part of these financial statements.
Statements of Financial Position (cont’d)At 31 December 2010
2010annual report 85
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
REVENUE 29 254,887 605,684 11,681 48,167
COST OF SALES (280,800) (491,792) – –
GROSS (LOSS)/PROFIT (25,913) 113,892 11,681 48,167
OTHER INCOME 28,262 32,866 4,873 99,823
2,349 146,758 16,554 147,990
SELLING AND DISTRIBUTION COSTS (2,377) (4,373) – –
ADMINISTRATIVE EXPENSES (27,379) (49,756) (12,039) (9,037)
OTHER EXPENSES (22,922) (10,485) (2,092) (425)
FINANCE COSTS (22,955) (32,695) (19,426) (32,903)
SHARE OF RESULTS IN AN ASSOCIATE 387 (748) – –
(LOSS)/PROFIT BEFORE TAXATION 30 (72,897) 48,701 (17,003) 105,625
INCOME TAX EXPENSE 31 491 (12,351) 8 (231)
(LOSS)/PROFIT AFTER TAXATION (72,406) 36,350 (16,995) 105,394
OTHER COMPREHENSIVE INCOME– Foreign currency translation (56,594) (8,927) – –– Cash flow hedge (1,311) – – –
(57,905) (8,927) – –
TOTAL COMPREHENSIVE(EXPENSES)/INCOMEFOR THE FINANCIAL YEAR (130,311) 27,423 (16,995) 105,394
(LOSS)/PROFIT AFTERTAXATION ATTRIBUTABLE TO:
Owners of the Company (72,002) 29,317 (16,995) 105,394Minority interests (404) 7,033 – –
(72,406) 36,350 (16,995) 105,394
TOTAL COMPREHENSIVE(EXPENSES)/INCOMEATTRIBUTABLE TO:
Owners of the Company (129,948) 20,116 (16,995) 105,394Minority interests (363) 7,307 – –
(130,311) 27,423 (16,995) 105,394
(LOSS)/EARNINGS PER SHARE– basic (sen) 32 (21.5) 9.9– diluted (sen) 32 Not Not
applicable applicable
The annexed notes form an integral part of these financial statements.
Statements of Comprehensive IncomeFor the Financial Year Ended 31 December 2010
86 Petra Perdana Berhad
<---------------------------------Non–Distributable---------------------------------> DistributableCapital Cash Flow Other Attributable
Share Share Warrant Redemption Translation Hedge Capital Retained To Owners Of Minority TotalCapital Premium Reserve Reserve Reserve Reserve Reserve Profits The Company Interests Equity
Note RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM'000 RM'000 RM'000The Group
Balance at 1 January 2009 148,800 60,377 – 2,127 6,860 – – 327,456 545,620 118,162 663,782Total comprehensive income
for the financial year – – – – (9,201) – – 29,317 20,116 7,307 27,423Reclassify to profit or loss on
disposal of a vessel – – – – 2,397 – – – 2,397 – 2,397Acquisition of interest
in a subsidiary – – – – – – – – – 562 562Disposal of interest in a
subsidiary 35 – – – – – – – – – (123,880) (123,880)Issuance of shares by a
subsidiary to minority interests – – – – – – – – – 322 322Dividend 33 – – – – – – – (4,464) (4,464) – (4,464)Dividend paid to minority
interests by subsidiaries – – – – – – – – – (1,893) (1,893)
Balance at 31 December 2009 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
Balance at 31 December 2009/1 January 2010– as previously reported 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249– effect of adopting FRS 139 3(a)(iii) – – – – – – – (35,045) (35,045) – (35,045)
– as restated 148,800 60,377 – 2,127 56 – – 317,264 528,624 580 529,204Total comprehensive expenses
for the financial year – – – – (56,635) (1,311) – (72,002) (129,948) (363) (130,311)Amendment of Labuan Companies
Act 1990 on share capital – – – (2,127) – – 2,127 – – – –Issuance of ordinary shares
under a private placement 14,880 24,403 – – – – – – 39,283 – 39,283Issuance of ordinary shares
under rights issue 61,380 – 11,048 – – – – – 72,428 – 72,428Share issue expenses – (1,888) – – – – – – (1,888) – (1,888)Dividend 33 – – – – – – – (4,464) (4,464) – (4,464)
Balance at 31 December 2010 225,060 82,892 11,048 – (56,579) (1,311) 2,127 240,798 504,035 217 504,252
The annexed notes form an integral part of these financial statements.
Statements of Changes in EquityFor the Financial Year Ended 31 December 2010
2010annual report 87
Share Share Warrant RetainedCapital Premium Reserve Profits Total
Note RM'000 RM'000 RM’000 RM'000 RM'000The Company
Balance at 1 January 2009 148,800 60,377 – 58,447 267,624Total comprehensive income for
the financial year – – – 105,394 105,394Dividend 33 – – – (4,464) (4,464)
Balance at 31 December 2009/1 January 2010
– as previously reported 148,800 60,377 – 159,377 368,554– effect of adopting FRS 139 3(a)(iii) – – – 198 198
– as restated 148,800 60,377 – 159,575 368,752Total comprehensive expenses
for the financial year – – – (16,995) (16,995)Issuance of ordinary shares under
a private placement 14,880 24,403 – – 39,283Issuance of ordinary shares under
a rights issue 61,380 – 11,048 – 72,428Share issue expenses – (1,888) – – (1,888)Dividend 33 – – – (4,464) (4,464)
Balance as at 31 December 2010 225,060 82,892 11,048 138,116 457,116
The annexed notes form an integral part of these financial statements.
Statements of Changes in Equity (cont’d)For the Financial Year Ended 31 December 2010
88 Petra Perdana Berhad
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
CASH FLOWS (FOR)/FROMOPERATING ACTIVITIES
(Loss)/Profit before taxation (72,897) 48,701 (17,003) 105,625
Adjustments for:Allowance for impairment loss
on receivables/related parties/subsidiaries 5,020 – 5 –
Amortisation of prepaid lease payments – 118 – –Depreciation of property, plant
and equipment 36,227 48,956 445 425Impairment loss on property,
plant and equipment 2,982 – – –Impairment loss on
refundable deposits 9,380 – – –Interest expense 21,651 25,770 18,667 29,727Inventories written off – 2 – –Provision for retirement contributions – 58 – 9Property, plant and equipment
written off 9 – – –Accretion of refundable deposits (3,657) – – –Dividend from subsidiaries – – (10,946) (46,209)Dividend from an associate – – (577) –Gain on transfer of property, plant
and equipment – – – (554)Gain on disposal of interest
in a subsidiary – (12,677) – (86,351)(Gain)/Loss on disposal of
property, plant and equipment (424) (3,165) 1,509 –Gain on disposal of non-current
asset classified as held for sale (5,855) (1,952) – –Interest income (3,669) (3,845) (4,523) (11,636)Unrealised gain on foreign exchange (9,464) (399) – –Waiver of debts (107) (866) – –Write-back of impairment loss on
receivables – (555) – (944)Share of results in an associate (387) 748 – –Operating (loss)/profit before
working capital changes (21,191) 100,894 (12,423) (9,908)
Increase in inventories (1,524) (13,510) – –Increase in amount
owing by contract customers – (16,905) – –Decrease in amount
owing to contract customers – (1,586) – –(Increase)/Decrease in receivables (6,056) (62,018) 13,365 (6,330)(Decrease)/Increase in payables (57,291) 91,627 (198) (6,571)
The annexed notes form an integral part of these financial statements.
Statements of Cash FlowsFor the Financial Year Ended 31 December 2010
2010annual report 89
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
Decrease/(Increase) in amountowing by related parties 988 (29,887) – –
CASH (FOR)/FROMOPERATIONS (85,074) 68,615 744 (22,809)
Interest paid (21,651) (25,770) (18,667) (29,727)Tax paid (2,210) (16,484) – (1,138)Tax refund 4,682 2,475 3,219 1,489
NET CASH (FOR)/FROMOPERATING ACTIVITIES (104,253) 28,836 (14,704) (52,185)
CASH FLOWS FROM/(FOR)INVESTING ACTIVITIES
Investment in new subsidiaries – – (55) *Investment in an associate – (40) – –Advances (to)/from subsidiaries – – (47,621) 10,227(Advances to)/Repayment from
related parties (4,661) 106,163 – (259)Acquisition of additionalinterest in a subsidiary – – – (394)Net cash outflow from
acquisition of subsidiaries – (2,637) – –Net cash inflow from disposal
of interest in a subsidiary 35 – 60,762 – 106,118Dividend received from subsidiaries – – 8,532 46,209Dividend received from an associate 577 – 577 –Refundable deposits paid (42,535) (34,109) – –Proceeds from disposal of
property, plant and equipment 177,580 326,539 6,900 –Proceeds from disposal of non-current
asset classified asheld for sale 94,501 6,656 – –
Net repayment from an associate 49,674 1,803 49,674 10,000Purchase of property, plant
and equipment 36 (190,955) (529,309) (6,448) (2,889)Interest received 3,669 3,845 4,523 11,636Withdrawal of fixed deposits 112,768 2,216 115,246 610
NET CASH FROM/(FOR)INVESTING ACTIVITIES 200,618 (58,111) 131,328 181,258
BALANCE CARRIED FORWARD 96,365 (29,275) 116,624 129,073
* Less than RM1,000.The annexed notes form an integral part of these financial statements.
Statements of Cash Flows (cont’d)For the Financial Year Ended 31 December 2010
90 Petra Perdana Berhad
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
BALANCE BROUGHT FORWARD 96,365 (29,275) 116,624 129,073
CASH FLOWS FORFINANCING ACTIVITIES
Proceeds from issuance of sharesby a subsidiary to minorityshareholders 45 322 – –
Proceeds from issuance of shares 111,711 – 111,711 –Share issue expenses (1,888) – (1,888) –Drawdown of bank borrowings 71,408 231,368 25,000 170,000Repayment of bank borrowings (270,000) (384,908) (270,000) (383,000)Repayment of hire purchase
obligations (46) (245) (27) –Advances from subsidiaries – – 27,977 31,668Repayment to associate – – – 1,975(Repayment to)/Advances from
related parties (219) 236 29 3Dividend paid to minority
shareholders by subsidiaries – (1,893) – –Dividend paid (4,464) (4,464) (4,464) (4,464)
NET CASH FORFINANCING ACTIVITIES (93,453) (159,584) (111,662) (183,818)
NET INCREASE/(DECREASE)IN CASH AND CASHEQUIVALENTS 2,912 (188,859) 4,962 (54,745)
EFFECTS OF FOREIGNEXCHANGE TRANSLATION (388) 920 – –
CASH AND CASHEQUIVALENTS ATBEGINNING OF THEFINANCIAL YEAR 35,419 223,358 16,356 71,101
CASH AND CASHEQUIVALENTS AT END
OF THE FINANCIAL YEAR 37 37,943 35,419 21,318 16,356
The annexed notes form an integral part of these financial statements.
Statements of Cash Flows (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 91
1. GENERAL INFORMATION
The Company is a public company limited by shares and is incorporated under the Companies Act 1965 in Malaysia. The domicileof the Company is Malaysia. The registered office which is also the principal place of business, is at No. 6-8, Jalan 3/3C, Batu 7,Jalan Ipoh, 68100 Kuala Lumpur.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directorsdated 28 April 2011.
2. PRINCIPAL ACTIVITIES
The Company is principally an investment holding company and is also engaged in the provision of administrative and managementservices to its subsidiaries. The principal activities of the subsidiaries are described in Note 5 to the financial statements. There havebeen no significant changes in the nature of these activities during the financial year.
3. BASIS OF PREPARATION
The financial statements of the Group are prepared under the historical cost convention and modified to include other bases ofvaluation as disclosed in other sections under significant accounting policies, and in compliance with Financial Reporting Standards(“FRS”) and the Companies Act 1965 in Malaysia.
(a) During the current financial year, the Group has adopted the following new accounting standards and interpretations (includingthe consequential amendments):
FRSs and IC Interpretations (Including the Consequential Amendments)
FRS 4 Insurance Contracts
FRS 7 Financial Instruments: Disclosures
FRS 8 Operating Segments
FRS 101 (Revised) Presentation of Financial Statements
FRS 123 (Revised) Borrowing Costs
FRS 139 Financial Instruments: Recognition and Measurement
Amendments to FRS 1 and FRS 127: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate
Amendments to FRS 2: Vesting Conditions and Cancellations
Amendments to FRS 7, FRS 139 and IC Interpretation 9
Amendments to FRS 101 and FRS 132: Puttable Financial Instruments and Obligations Arising on Liquidation
Amendments to FRS 132: Classification of Rights Issues and the Transitional Provision in Relation to Compound Instruments
IC Interpretation 9 Reassessment of Embedded Derivatives
Notes to the Financial StatementsFor the Financial Year Ended 31 December 2010
92 Petra Perdana Berhad
3. BASIS OF PREPARATION (CONT’D)
(a) FRSs and IC Interpretations (Including the Consequential Amendments) (Cont’d)
IC Interpretation 10 Interim Financial Reporting and Impairment
IC Interpretation 11: FRS 2 - Group and Treasury Share Transactions
IC Interpretation 13 Customer Loyalty Programmes
IC Interpretation 14: FRS 119 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
Annual Improvements to FRSs (2009)
(a) The adoption of the above accounting standards and interpretations (including the consequential amendments) did nothave any material impact on the Group’s financial statements, other than the following:
(i) FRS 7 requires additional disclosures about the financial instruments of the Group. Prior to 1 January 2010,information about financial statements was disclosed in accordance with the requirements of FRS 132 – FinancialInstruments: Disclosures and Presentation. FRS 7 requires the disclosure of qualitative and quantitative informationabout exposure to risks arising from financial instruments, including specified minimum disclosures about credit risk,liquidity risk and market risk, including sensitivity analysis to market risk.
The Group has applied FRS 7 prospectively in accordance with the transitional provisions. Accordingly, the newdisclosures have not been applied to the comparatives and are included throughout the financial statements for thecurrent financial year.
(ii) FRS 101 (Revised) introduces the statement of comprehensive income, with all items of income and expenserecognised in profit or loss, together with all other items of recognised income and expense recognised directly inequity, either in one single statement, or in two linked statements. The Group has elected to present this statement asone single statement.
The revised standard also separates owner and non-owner changes in equity. The statement of changes in equityincludes only details of transactions with owners, with all non-owner changes in equity presented in the statement ofcomprehensive income as other comprehensive income.
FRS 101 (Revised) also requires the Group to make new disclosures to enable users of the financial statements toevaluate the Group’s objectives, policies and processes for managing capital. This new disclosure is made in Note45(b) to the financial statements.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 93
3. BASIS OF PREPARATION (CONT’D)
(a) (iii) The adoption of FRS 139 (including the consequential amendments) has resulted in several changes to accountingpolicies relating to recognition and measurements of financial instruments.
The financial impact to the financial statements is summarised as follows:
The GroupAt
1.1.2010Note RM’000
Retained profitsRemeasurement of non-current refundable deposits (aa) (35,728)Remeasurement of borrowings (bb) 198Share of FRS 139 financial effects in an associate 485
(35,045)
The CompanyAt
1.1.2010Note RM’000
Retained profitsRemeasurement of borrowings (bb) 198
(aa) Prior to 1 January 2010, the Group’s refundable deposits that were classified under non-current assets were recordedat cost. With the adoption of FRS 139, these deposits are now recognised initially at their fair values, which areestimated by discounting the expected cash flows using the current market interest rate of a loan with similar risk andtenure. Subsequent to initial recognition, the refundable deposits are measured at amortised cost. Interest income isrecognised in profit or loss using the effective interest method.
(bb) Prior to 1 January 2010, the Group and the Company’s borrowings were recorded at cost. With the adoption ofFRS 139, these borrowings are now recognised initially at their fair values and remeasured at amortised cost at eachsubsequent reporting period.
(cc) Prior to 1 January 2010, inter-company loans or advances were recorded at cost. With the adoption of FRS 139,inter-company loans and advances are now recognised initially at their fair values, which are estimated bydiscounting the expected cash flows using the current market interest rate of a loan with similar risk and tenure.Subsequent to initial recognition, these loans and advances are measured at amortised cost.
Besides, certain loans or advances of which the settlement is neither planned nor likely to occur in the foreseeablefuture are, in substance, a part of the Company’s net investment in the subsidiaries, and are stated at cost less anyimpairment loss in the financial statements of the Company. Accordingly, the adoption of FRS 139 did not have anyfinancial impact on the financial statements in respect of these loans or advances.
(dd) The Company has previously asserted explicitly that it regards financial guarantee contracts of banking facilitiesgranted to its subsidiaries and related parties as insurance contracts and will apply FRS 4 to such financial guaranteecontracts. Accordingly, the adoption of FRS 139 did not have any financial impact on the financial statements inrespect of the financial guarantee contracts issued by the Company to its subsidiaries and related parties. Thesefinancial guarantee contracts issued are disclosed as contingent liabilities under Note 41 to the financial statements.
All these financial impacts are recognised as an adjustment to the opening balance of retained profits as at 1 January2010 upon the adoption of FRS 139. Comparatives are not adjusted/represented by virtue of the exemption given inthis standard.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
94 Petra Perdana Berhad
3. BASIS OF PREPARATION (CONT’D)
(b) The Group has not applied in advance the following accounting standards and interpretations (including the consequentialamendments) that have been issued by the Malaysian Accounting Standards Board (MASB) but are not yet effective for thecurrent financial year:
FRSs and IC Interpretations (Including the Consequential Amendments) Effective Date
FRS 1 (Revised) First-time Adoption of Financial Reporting Standards 1 July 2010
FRS 3 (Revised) Business Combinations 1 July 2010
FRS 124 (Revised) Related Party Disclosures 1 January 2012
FRS 127 (Revised) Consolidated and Separate Financial Statements 1 July 2010
Amendments to FRS 1 (Revised): Limited Exemption from Comparative FRS 7 Disclosures forFirst-time Adopters 1 January 2011
Amendments to FRS 1: Additional Exemptions for First-time Adopters 1 January 2011
Amendments to FRS 2: Scope of FRS 2 and FRS 3 (Revised) 1 July 2010
Amendments to FRS 2: Group Cash-settled Share-based Payment Transactions 1 January 2011
Amendments to FRS 5: Plan to Sell the Controlling Interest in a Subsidiary 1 July 2010
Amendments to FRS 7: Improving Disclosures about Financial Instruments 1 January 2011
Amendments to FRS 138: Consequential Amendments Arising from FRS 3 (Revised) 1 July 2010
Amendments to IC Interpretation 9: Scope of IC Interpretation 9 and FRS 3 (Revised) 1 July 2010
Amendments to IC Interpretation 14: Prepayments of a Minimum Funding Requirement 1 July 2011
IC Interpretation 4 Determining Whether An Arrangement Contains a Lease 1 January 2011
IC Interpretation 12 Service Concession Arrangements 1 July 2010
IC Interpretation 15 Agreements for the Construction of Real Estate 1 January 2012
IC Interpretation 16 Hedges of a Net Investment in a Foreign Operation 1 July 2010
IC Interpretation 17 Distributions of Non-cash Assets to Owners 1 July 2010
IC Interpretation 18 Transfers of Assets from Customers 1 January 2011
IC Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments 1 July 2011
Annual Improvements to FRSs (2010) 1 January 2011
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 95
3. BASIS OF PREPARATION (CONT’D)
(b) The above accounting standards and interpretations (including the consequential amendments) are not relevant to the Group’soperations except as follows:
(i) FRS 3 (Revised) introduces significant changes to the accounting for business combinations, both at the acquisition dateand post acquisition, and requires greater use of fair values. In addition, all transaction costs, other than share and debtissue costs, will be expensed as incurred. This revised standard will be applied prospectively and therefore there will nothave any financial impact on the financial statements of the Group for the current financial year but may impact theaccounting for future transactions or arrangements.
(ii) FRS 127 (Revised) requires accounting for changes in ownership interests by the group in a subsidiary, while maintainingcontrol, to be recognised as an equity transaction. When the group loses control of a subsidiary, any interest retained inthe former subsidiary will be measured at fair value with the gain or loss recognised in profit or loss. The revised standardalso requires all losses attributable to the minority interest to be absorbed by the minority interest instead of by the parent.The Group will apply the major changes of FRS 127 (Revised) prospectively and therefore there will not have any financialimpact on the financial statements of the Group for the current financial year but may impact the accounting of its futuretransactions or arrangements.
4. SIGNIFICANT ACCOUNTING POLICIES
(a) Critical Accounting Estimates and Judgements
Estimates and judgements are continually evaluated by the directors and management and are based on historical experienceand other factors, including expectations of future events that are believed to be reasonable under the circumstances. Theestimates and judgements that affect the application of the Group’s accounting policies and disclosures, and have a significantrisk of causing a material adjustment to the carrying amounts of assets, liabilities, income and expenses are discussed below:
(i) Depreciation of Property, Plant and Equipment
The estimates for the residual values, useful lives and related depreciation charges for the property, plant and equipmentis based on commercial factors which could change significantly as a result of technical innovations and competitors’actions in response to the market conditions.
The Group anticipates that the residual value of its property, plant and equipment will be insignificant. As a result, theresidual values are not being taken into consideration for the computation of the depreciable amount.
Changes in the expected level of usage and technological development could impact the economic useful lives and theresidual values of these assets, therefore future depreciation charges could be revised.
(ii) Income Taxes
There are certain transactions and computations for which the ultimate tax determination may be different from the initialestimate. The Group recognises tax liabilities based on its understanding of the prevailing tax laws and estimates ofwhether such taxes will be due in the ordinary course of business. Where the final outcome of these matters is differentfrom the amounts that were initially recognised, such difference will impact the income tax and deferred tax provisions inthe year in which such determination is made.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
96 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(a) Critical Accounting Estimates and Judgements (Cont’d)
(iii) Impairment of Non-financial Assets
When the recoverable amount of an asset is determined based on the estimate of the value-in-use of the cash-generatingunit to which the asset is allocated, the management is required to make an estimate of the expected future cash flowsfrom the cash-generating unit and also to apply a suitable discount rate in order to determine the present value of thosecash flows.
(iv) Allowance for Inventories
Reviews are made periodically by management on damaged, obsolete and slow-moving inventories. These reviews requirejudgement and estimates. Possible changes in these estimates could result in revisions to the valuation of inventories.
(v) Operating Lease
The Group entered into several conditional Sale and Leaseback Agreements for the sales of the subsidiaries’ vessels withthird parties. Subsequently, these vessels were leased back by other subsidiaries from the third parties for lease periodsranging from five (5) to ten (10) years commencing from the date of delivery of vessels or financing obtained, with theoption to buy back the vessels at the end of the primary lease term period. The directors are of the opinion that the leasearrangements should be treated as an operating lease as presently the management has no intention to buy back thevessels at the end of the primary lease term and the lease term does not constitute the major part of the economic life ofthe vessels.
(vi) Impairment of Trade and Other Receivables
An impairment loss is recognised when there is objective evidence that a financial asset is impaired. Managementspecifically reviews its loans and receivables financial assets and analyses historical bad debts, customer concentrations,customer creditworthiness, current economic trends and changes in the customer payment terms when making ajudgement to evaluate the adequacy of the allowance for impairment losses. Where there is objective evidence ofimpairment, the amount and timing of future cash flows are estimated based on historical loss experience for assets withsimilar credit risk characteristics. If the expectation is different from the estimation, such difference will impact the carryingvalue of receivables.
(vii) Impairment of Goodwill
Goodwill is tested for impairment annually and at other times when such indicators exist. This requires management toestimate the expected future cash flows of the cash-generating unit to which goodwill is allocated and to apply a suitablediscount rate in order to determine the present value of those cash flows. The future cash flows are most sensitive tobudgeted gross margins, growth rates estimated and discount rate used. If the expectation is different from the estimation,such difference will impact the carrying value of goodwill.
(viii) Fair Value Estimates for Certain Financial Assets and Liabilities
The Group carries certain financial assets and liabilities at fair value, which requires extensive use of accountingestimates and judgement. While significant components of fair value measurement were determine using verifiableobjective evidence, the amount of changes in fair value would differ if the Group uses different valuation methodologies.Any changes in fair value of these assets and liabilities would affect the results and/or equity.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 97
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(b) Basis of Consolidation
The consolidated financial statements include the financial statements of the Company and its subsidiaries made up to 31December 2010.
A subsidiary is defined as a company in which the parent company has the power, directly or indirectly, to exercise controlover its financial and operating policies so as to obtain benefits from its activities.
All subsidiaries are consolidated using the purchase method. Under the purchase method, the results of the subsidiaries acquiredor disposed of are included from the date of acquisition or up to the date of disposal. At the date of acquisition, the fair valuesof the subsidiaries’ net assets are determined and these values are reflected in the consolidated financial statements. The costof acquisition is measured at the aggregate of the fair values, at the date of exchange, of assets given, liabilities incurred orassumed, and equity instruments issued by the Group in exchange for control of the acquiree, plus any costs directly attributableto the business combination.
Intragroup transactions, balances and unrealised gains on transactions are eliminated; unrealised losses are also eliminatedunless cost cannot be recovered. Where necessary, adjustments are made to the financial statements of subsidiaries to ensureconsistency of accounting policies with those of the Group.
Minority interests in the consolidated statement of financial position consist of the minorities’ share of fair values of theidentifiable assets and liabilities of the acquiree as at the date of acquisition and the minorities’ share of movements in theacquiree’s equity.
Minority interests are presented within equity in the consolidated statement of financial position, separately from the Company’sshareholders’ equity, and are separately disclosed in the consolidated statement of comprehensive income. Transactions withminority interests are accounted for as transactions with owners. Gain or loss on disposal to minority interests is recogniseddirectly in equity.
(c) Goodwill
Goodwill represents the excess of the fair value of the purchase consideration over the Group’s share of the fair values of theidentifiable assets, liabilities and contingent liabilities of the subsidiaries at the date of acquisition.
Goodwill is measured at cost less impairment losses, if any. The carrying value of goodwill is reviewed for impairment annually.The impairment value of goodwill is recognised immediately in profit or loss. An impairment loss recognised for goodwill isnot reversed in a subsequent period.
If, after reassessment, the Group’s interest in the fair values of the identifiable net assets of the subsidiaries exceeds the cost ofthe business combinations, the excess is recognised as income immediately in profit or loss.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
98 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(d) Functional and Foreign Currencies
(i) Functional and Presentation Currency
The individual financial statements of each entity in the Group are presented in the currency of the primary economicenvironment in which the entity operates, which is the functional currency.
The consolidated financial statements are presented in Ringgit Malaysia, which is the Company’s functional andpresentation currency.
(ii) Transactions and Balances
Transactions in foreign currencies are converted into the respective functional currencies on initial recognition, using theexchange rates approximating those ruling at the transaction dates. Monetary assets and liabilities at the end of thereporting period are translated at the rates ruling as of that date. Non-monetary assets and liabilities are translated usingexchange rates that existed when the values were determined. All exchange differences are recognised in profit or loss.
(iii) Foreign Operations
Assets and liabilities of foreign operations are translated to Ringgit Malaysia at the rates of exchange ruling at the endof the reporting period. Revenues and expenses of foreign operations are translated at exchange rates ruling at thedates of the transactions. All exchange differences arising from translation are taken directly to other comprehensiveincome and accumulated in equity under translation reserve. On disposal of a foreign operation, the cumulative amountrecognised in other comprehensive income relating to that particular foreign operation is reclassified from equity toprofit or loss.
Goodwill and fair value adjustments arising from the acquisition of foreign operations are treated as assets and liabilitiesof the foreign operations and are recorded in the functional currency of the foreign operations and translated at theclosing rate at the end of the reporting period.
(e) Financial Instruments
Financial instruments are recognised in the statements of financial position when the Group has become a party to thecontractual provisions of the instruments.
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 an expense orincome. Distributions to holders of financial instruments classified as equity are charged directly to equity.
Financial instruments are offset when the Group has a legally enforceable right to offset and intends to settle either on a netbasis or to realise the asset and settle the liability simultaneously.
A financial instrument is recognised initially, at its fair value plus, in the case of a financial instrument not at fair value throughprofit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial instrument.
Financial instruments recognised in the statements of financial position are disclosed in the individual policy statement associatedwith each item.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 99
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(e) Financial Instruments (Cont’d)
(i) Financial Assets
On initial recognition, financial assets are classified as either financial assets at fair value through profit or loss, loans andreceivables, held-to-maturity investments, or available-for-sale financial assets, as appropriate.
• Financial Assets at Fair Value Through Profit or Loss
Financial assets are classified as financial assets at fair value through profit or loss when the financial asset is eitherheld for trading or is designated to eliminate or significantly reduce a measurement or recognition inconsistency thatwould otherwise arise. Derivatives are also classified as held for trading (except for a derivative that is a designatedand effective hedging instrument).
Financial assets at fair value through profit or loss are stated at fair value, with any gains or losses arising onremeasurement recognised in profit or loss. Dividend income from this category of financial assets is recognised inprofit or loss when the Group’s right to receive payment is established.
• Held-to-maturity Investments
Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixedmaturities that the management has the positive intention and ability to hold to maturity. Held-to-maturity investmentsare measured at amortised cost using the effective interest method less any impairment loss, with revenue recognisedon an effective yield basis.
• Loans and Receivables Financial Assets
Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an activemarket are classified as loans and receivables financial assets. Loans and receivables financial assets aremeasured at amortised cost using the effective interest method, less any impairment loss. Interest income isrecognised by applying the effective interest rate, except for short-term receivables when the recognition of interestwould be immaterial.
• Available-for-sale Financial Assets
Available-for-sale financial assets are non-derivative financial assets that are designated in this category or are notclassified in any of the other categories.
After initial recognition, available-for-sale financial assets are remeasured to their fair values at the end of eachreporting period. Gains and losses arising from changes in fair value are recognised in other comprehensive incomeand accumulated in the fair value reserve, with the exception of impairment losses. On derecognition, the cumulativegain or loss previously accumulated in the fair value reserve is reclassified from equity into profit or loss.
Dividends on available-for-sale equity instruments are recognised in profit or loss when the Group’s right to receivepayments is established.
Investments in equity instruments whose fair value cannot be reliably measured are measured at cost less impairmentlosses, if any.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
100 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(e) Financial Instruments (Cont’d)
(ii) Financial Liabilities
All financial liabilities are initially recorded at fair value plus directly attributable transaction costs and subsequentlymeasured at amortised cost using the effective interest method other than those categorised as fair value through profitor loss.
Fair value through profit or loss category comprises financial liabilities that are either held for trading or are designatedto eliminate or significantly reduce a measurement or recognition inconsistency that would otherwise arise. Derivatives arealso classified as held for trading unless they are designated as hedges.
(iii) Equity Instruments
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options areshown in equity as a deduction, net of tax, from proceeds.
Dividends on ordinary shares are recognised as liabilities when approved for appropriation.
(iv) Warrants
Proceeds, net of issue costs, from the issuance of warrants or allocated in accordance with FRSIC Consensus 9 - Accountingfor Rights Issue with Free Warrants are credited to the warrant reserve which is non-distributable. The warrant reserve istransferred to the share premium account upon the exercise of the warrants and the warrant reserve in relation to theunexercised warrants at the expiry of the warrants will be transferred to retained earnings.
(v) Hedge Activities
The Group enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreignexchange rate risks, including cross currency swap and interest rate swap.
The Group designates certain derivatives as either hedges of the fair value of recognised assets or liabilities or firmcommitments (fair value hedges), hedges of highly probable forecast transactions or hedges of foreign currency risk offirm commitments (cash flow hedges), or hedges of net investments in foreign operations.
• Hedge accounting
The Group designates certain hedging instruments, which include derivatives, embedded derivatives and non-derivatives in respect of foreign currency risk, as either fair value hedges, cash flow hedges, or hedges of netinvestments in foreign operations. Hedges of foreign exchange risk on firm commitments are accounted for as cashflow hedges.
At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument andthe hedged item, along with its risk management objectives and its strategy for undertaking various hedgetransactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whetherthe hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 101
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(e) Financial Instruments (Cont’d)
(v) Hedge Activities (Cont’d)
• Fair value hedges
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profitor loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributableto the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged itemattributable to the hedged risk are recognised in the statement of comprehensive income relating to the hedged item.
Hedge accounting is discontinued when the Group revokes the hedging relationship, when the hedging instrumentexpires or is sold, terminated, or exercised, or when it no longer qualifies for hedge accounting. The fair valueadjustment to the carrying amount of the hedged item arising from the hedged risk is amortised to profit or loss fromthat date.
• Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedgesis recognised in other comprehensive income. The gain or loss relating to the ineffective portion is recognisedimmediately in profit or loss.
Subsequently, the cumulative gain or loss recognised in other comprehensive income is reclassified from equity intoprofit or loss in the same period or periods during which the hedged forecast cash flows affect profit or loss. If thehedge item is a non-financial asset or liability, the associated gain or loss recognised in other comprehensive incomeis removed from equity and included in the initial amount of the asset or liability. However, loss recognised in othercomprehensive income that will not be recovered in one or more future periods is reclassified from equity into profitor loss.
Hedge accounting is discontinued prospectively when the Group revokes the hedging relationship, when the hedginginstrument expires or is sold, terminated, or exercised, or it no longer qualifies for hedge accounting. Any gain orloss accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimatelyrecognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulatedin equity is recognised immediately in profit or loss.
• Hedges of net instruments in foreign operations
Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or losson the hedging instrument relating to the effective portion of the hedge is recognised in other comprehensive incomeand accumulated in the foreign currency translation reserve. The gain or loss relating to the ineffective portion isrecognised immediately in profit or loss.
The cumulative gain or loss recognised in other comprehensive income is reclassified from equity into profit or losson the disposal of the foreign operation.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
102 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(f) Investment in Subsidiaries
Investment in subsidiaries are stated at cost in the statement of financial position of the Company, and are reviewed forimpairment at the end of the reporting period if events or changes in circumstances indicate that the carrying values may notbe recoverable.
On the disposal of the investment in a subsidiary, the difference between the net disposal proceeds and the carrying amountof the investment is recognised in profit or loss.
(g) Investment in an Associate
An associate is an entity in which the Group has a long-term equity interest and where it exercises significant influence overthe financial and operating policies.
The investment in an associate is accounted for under the equity method, based on the financial statements of the associate madeup to 31 December 2010. The Group's share of the post acquisition profits of the associate is included in the consolidatedstatement of comprehensive income and the Group's interest in the associate is carried in the consolidated statement of financialposition at cost plus the Group's share of the post-acquisition retained profits and other reserves.
Unrealised gains on transactions between the Group and the associate are eliminated to the extent of the Group's interest inthe associate. Unrealised losses are eliminated unless cost cannot be recovered.
(h) Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation or amortisation and impairment losses, if any.
Depreciation or amortisation is calculated under the straight-line method to write off the depreciable amount of the assets overtheir estimated useful lives. Depreciation of an asset does not cease when the asset becomes idle or is retired from active useunless the asset is fully depreciated. The principal annual rates used for this purpose are:
Vessels 4% – 7%Vessel equipment 4% – 10%Dry docking 20%Leasehold buildings 2%Plant and machinery 10%Cabin, field and workshop equipment 10% – 20%Motor vehicles 20%Office equipment, furniture and fittings 10% – 20%Others 10% – 50%
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 103
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(h) Property, Plant and Equipment (Cont’d)
Capital work-in-progress is not depreciated.
Capital work-in-progress represents assets under construction, and which are not ready for commercial use at the end ofreporting period. Capital work-in-progress is stated at cost, and is transferred to the relevant category of assets and depreciatedaccordingly when the assets are completed and ready for commercial use. Cost of capital work-in-progress includes direct costs,related expenditure and interest cost on borrowings taken to finance the construction or acquisition of the assets to the date thatthe assets are completed and put into use.
Dry docking costs are in respect of the cost of major repairs and modifications incurred on the vessels which enhance the usefullives of the vessels.
The depreciation method, useful life and residual values are reviewed, and adjusted if appropriate, at the end of each reportingperiod to ensure that the amount, method and period of depreciation are consistent with previous estimates and the expectedpattern of consumption of the future economic benefits embodied in the items of the property, plant and equipment.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when thecost is incurred and it is probable that the future economic benefits associated with the asset will flow to the Group and the costof the asset can be measured reliably. The carrying amount of parts that are replaced is derecognised. The costs of the day-to-day servicing of equipment are recognised in profit or loss as incurred. Cost also comprises the initial estimate of dismantlingand removing the asset and restoring the site on which it is located for which the Group is obligated to incur when the asset isacquired, if applicable.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expectedfrom its use. Any gain or loss arising from derecognition of the asset is included in the profit or loss in the year the assetis derecognised.
(i) Impairment
(i) Impairment of Financial Assets
All financial assets (other than those categorised at fair value through profit or loss), are assessed at the end of eachreporting period whether there is any objective evidence of impairment as a result of one or more events having an impacton the estimated future cash flows of the asset. For an equity instrument, a significant or prolonged decline in the fair valuebelow its cost is considered to be objective evidence of impairment.
An impairment loss in respect of held-to-maturity investments and loans and receivables financial assets is recognised inprofit or loss and is measured as the difference between the asset’s carrying amount and the present value of estimatedfuture cash flows, discounted at the financial asset’s original effective interest rate.
An impairment loss in respect of available-for-sale financial assets is recognised in profit or loss and is measured as thedifference between its cost (net of any principal payment and amortisation) and its current fair value, less any impairmentloss previously recognised in the fair value reserve. In addition, the cumulative loss recognised in other comprehensiveincome and accumulated in equity under fair value reserve, is reclassified from equity to profit or loss.
With the exception of available-for-sale equity instruments, if, in a subsequent period, the amount of the impairment lossdecreases and the decrease can be related objectively to an event occurring after the impairment was recognised, thepreviously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of theinvestment at the date the impairment is reversed does not exceed what the amortised cost would have been had theimpairment not been recognised. In respect of available-for-sale equity instruments, impairment losses previouslyrecognised in profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairmentloss made is recognised in other comprehensive income.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
104 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(i) Impairment (Cont’d)
(ii) Impairment of Non-Financial Assets
The carrying values of assets, other than those to which FRS 136 – Impairment of Assets does not apply, are reviewed atthe end of each reporting period for impairment when there is an indication that the assets might be impaired. Impairmentis measured by comparing the carrying values of the assets with their recoverable amounts. The recoverable amount ofthe assets is the higher of the assets' fair value less costs to sell and their value-in-use, which is measured by reference todiscounted future cash flow.
An impairment loss is recognised in profit or loss immediately.
In respect of assets other than goodwill, and when there is a change in the estimates used to determine the recoverableamount, a subsequent increase in the recoverable amount of an asset is treated as a reversal of the previousimpairment loss and is recognised to the extent of the carrying amount of the asset that would have been determined(net of amortisation and depreciation) had no impairment loss been recognised. The reversal is recognised in profitor loss immediately.
(j) Operating Leases
Leases of assets where a significant portion of the risks and rewards of ownership are retained by the lessor are classified asoperating leases. Payments made under the operating leases (net of any incentives received from the lessor, if any) arerecognised in profit or loss on the straight-line method over the lease period. When an operating lease is terminated beforethe lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expensein the period in which termination takes place.
(k) Assets under Hire Purchase
Assets acquired under hire purchase are capitalised in the financial statements and are depreciated in accordance with thepolicy set out in Note 4(h) above. Each hire purchase payment is allocated between the liability and finance charges so as toachieve a constant rate on the finance balance outstanding. Finance charges are recognised in profit or loss over the periodof the respective hire purchase agreements.
(l) Inventories
Inventories are stated at the lower of cost and net realisable value. Cost is determined on the first-in-first-out basis, and comprisesthe purchase price and incidentals incurred in bringing the inventories to their present location and condition.
Net realisable value represents the estimated selling price less the estimated costs of completion and the estimated costsnecessary to make the sale.
Where necessary, due allowance is made for all obsolete, damaged and slow-moving items.
(m) Amounts Owing By/To Contract Customers
The amounts owing by/to contract customers are stated at cost plus profits attributable to contracts in progress less progressbillings and allowance for foreseeable losses, if any. Cost includes direct materials, labour and applicable overheads.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 105
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(n) Provisions
Provisions are recognised when the Group has a present obligation as a result of past events, when it is probable that anoutflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of theamount can be made. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current bestestimate. Where the effect of the time value of money is material, the provision is the present value of the estimated expenditurerequired to settle the obligation.
(o) Income Taxes
Income tax for the year comprises current and deferred tax.
Current tax is the expected amount of income taxes payable in respect of the taxable profit for the year and is measured usingthe tax rates that have been enacted or substantively enacted at the end of the reporting period.
Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assetsand liabilities and their carrying amounts in the financial statements.
Deferred tax liabilities are recognised for all taxable temporary differences other than those that arise from goodwill or excessof the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over thebusiness combination costs or from the initial recognition of an asset or liability in a transaction which is not a businesscombination and at the time of the transaction, affects neither accounting profit nor taxable profit.
Deferred tax assets are recognised for all deductible temporary differences, unused tax losses and unused tax credits to theextent that it is probable that future taxable profits will be available against which the deductible temporary differences, unusedtax losses and unused tax credits can be utilised. The carrying amounts of deferred tax assets are reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient future taxable profits will be available toallow all or part of the deferred tax assets to be utilised.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset isrealised or the liability is settled, based on the tax rates that have been enacted or substantively enacted at the end of thereporting period.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against currenttax liabilities and when the deferred income taxes relate to the same taxation authority.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items arerecognised in correlation to the underlying transactions either in other comprehensive income or directly in equity and deferredtax arising from a business combination is included in the resulting goodwill or excess of the acquirer’s interest in the net fairvalue of the acquiree’s identifiable assets, liabilities and contingent liabilities over the business combination costs.
(p) Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand, bank balances, demand deposits, bank overdrafts and short-term,highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificantrisk of changes in value. For the purpose of the statements of cash flows, cash and cash equivalents are presented net ofpledged deposits.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
106 Petra Perdana Berhad
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(q) Employee Benefits
(i) Short-term Benefits
Wages, salaries, paid annual leave and sick leave, bonuses and non-monetary benefits are accrued in the period inwhich the associated services are rendered by employees of the Group.
(ii) Defined Contribution Plans
The Group’s contributions to defined contribution plans are recognised in profit or loss in the period to which they relate.Once the contributions have been paid, the Group has no further liability in respect of the defined contribution plans.
(r) Borrowing Costs
Borrowing costs, directly attributable to the acquisition and construction of property, plant and equipment are capitalised aspart of the cost of those assets, until such time as the assets are ready for their intended use or sale. Capitalisation of borrowingcosts is suspended during extended periods in which active development is interrupted.
All other borrowing costs are recognised in profit or loss as expenses in the period in which they incurred.
(s) Contingent Liabilities
A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by theoccurrence of one or more uncertain future events not wholly within the control of the Group. It can also be a present obligationarising from past events that is not recognised because it is not probable that an outflow of economic resources will be requiredor the amount of obligation cannot be measured reliably.
A contingent liability is not recognised but is disclosed in the notes to the financial statements. When a change in the probabilityof an outflow occurs so that the outflow is probable, it will then be recognised as a liability/provision.
(t) Related Parties
A party is related to an entity if:
(i) directly, or indirectly through one or more intermediaries, the party:• controls, is controlled by, or is under common control with, the entity (this includes parents, subsidiaries and fellow
subsidiaries);• has an interest in the entity that gives it significant influence over the entity; or• has joint control over the entity;
(ii) the party is an associate of the entity;(iii) the party is a joint venture in which the entity is a venturer;(iv) the party is a member of the key management personnel of the entity or its parent;(v) the party is a close member of the family of any individual referred to in (i) or (iv);(vi) the party is an entity that is controlled, jointly controlled or significantly influenced by, or for which significant voting
power in such entity resides with, directly or indirectly, any individual referred to in (iv) or (v); or(vii) the party is a post-employment benefit plan for the benefit of employees of the entity, or of any entity that is a related party
of the entity.
Close members of the family of an individual are those family members who may be expected to influence, or be influencedby, that individual in their dealings with the entity.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 107
4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(u) Operating Segments
An operating segment is a component of the Group that engages in business activities from which it may earn revenues andincur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. Anoperating segment’s operating results are reviewed regularly by the chief operating decision maker to make decisions aboutresources to be allocated to the segment and assess its performance, and for which discrete financial information is available.
(v) Revenue Recognition
(i) Chartered Vessel Income
Chartered vessel income is recognised upon rendering of services and when the outcome of the transaction can beestimated reliably. In the event the outcome of the transaction could not be estimated reliably, revenue is recognised to theextent of the expenses incurred that are recoverable.
(ii) Contract Revenue
Revenue on contracts is recognised on the percentage of completion method unless the outcome of the contract cannot bereliably determined, in which case revenue on contracts is only recognised to the extent of contract costs incurred that arerecoverable. Foreseeable losses, if any, are provided for in full as and when it can be reasonably ascertained that thecontract will result in a loss.
The stage of completion is determined based on the proportion that the contract costs incurred for work performed to datebear to the estimated total contract costs.
(iii) Dividend income
Dividend income from investment is recognised when the right to receive dividend payment is established.
(iv) Management Fee
Management fee is recognised on an accrual basis.
(v) Rental Income
Rental income is recognised on an accrual basis.
(vi) Interest Income
Interest income is recognised on an accrual basis, based on the effective yield on the investment. Interest income on latepayment is recognised on a receipt basis.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
108 Petra Perdana Berhad
5. INVESTMENT IN SUBSIDIARIES
The Company2010 2009RM'000 RM'000
Unquoted shares, at cost:– in Malaysia 285,574 285,519– outside Malaysia 21,897 21,897
307,471 307,416Less: Impairment loss (10) (10)
307,461 307,406
The details of the subsidiaries are as follows:
Country of Effective Equity InterestName of Company incorporation 2010 2009 Principal Activities
% %
Intra Oil Services Berhad Malaysia 100 100 Provision of marine supportservices for the oil andgas industry.
Ampangship Marine Sdn. Bhd. Malaysia 100 100 Provision of marine supportservices for the oil andgas industry.
Perdana Marine The Republic 100 100 Provision of marine supportOffshore Pte. Ltd.* of Singapore services for the oil and
gas industry.
Petra Offshore Limited Federal Territory 100 100 Provision of leasing businessof Labuan activities in Labuan.
Perdana Mercury Limited The Republic of the 100 100 Provision of marine supportMarshall Islands services for the oil and
gas industry.
Perdana Venus Limited The Republic of the 100 100 Provision of marine supportMarshall Islands services for the oil and
gas industry.
Petra Marine Australia The Commonwealth 55 55 Provision of marine supportPty. Ltd. of Australia services for the oil and
gas industry.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 109
5. INVESTMENT IN SUBSIDIARIES (CONT’D)
Country of Effective Equity InterestName of Company incorporation 2010 2009 Principal Activities
% %
Perdana Jupiter Limited Federal Territory of Labuan 100 100 Provision of leasing businessactivities in Labuan.
Odin Explorer The British Virgin Islands 100 100 Dormant.Navigation Limited
Geoseas Technologies The British Virgin Islands 51 51 Dormant.Limited
Petra Teknik Sdn. Bhd. Malaysia 100 100 Dormant.
Petra Asia Limited Federal Territory 100 100 Dormant.of Labuan
Perdana Neptune Limited Federal Territory 100 100 Dormant.of Labuan
Perdana Pluto Limited* Federal Territory 100 100 Dormant.of Labuan
Perdana Saturn Limited* Federal Territory 100 100 Dormant.of Labuan
Perdana Nautika Sdn. Bhd. Malaysia 55 – Dormant.
Interest held through Intra Oil Services Berhad
Osam Marine Sdn. Bhd. Malaysia 100 100 Dormant.
Asiaway Sdn. Bhd. Malaysia 100 100 Dormant.
Interest held through Osam Marine Sdn. Bhd.
Malawi Marine Sdn. Bhd. Malaysia 100 100 Dormant.
Kovan Marine Sdn. Bhd. Malaysia 100 100 Dormant.
* Not audited by Messrs. Crowe Horwath.
During the financial year, the Company incorporated a new subsidiary of which the details are disclosed in Note 34 to thefinancial statements.
In the previous financial year:
(a) the Company acquired four (4) newly incorporated subsidiaries of which the details are disclosed in Note 34 to the financialstatements; and
(b) the Company disposed of its shareholding in Petra Energy Berhad (“PEB”) which resulted the Company’s shareholding beingreduced from 60% to 29.59%. The details of the disposal are disclosed in Note 6 and Note 35 to the financial statements.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
110 Petra Perdana Berhad
6. INVESTMENT IN AN ASSOCIATE
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Quoted shares in Malaysia, at cost 19,233 19,233 19,233 19,233
Share of post acquisition profits 68,702 71,086 – –
Share of associate’s financial effects inadopting FRS 139 485 – – –
88,420 90,319 19,233 19,233
Market value of quoted shares 89,435 95,205 89,435 95,205
Share of results in an associate is based on the unaudited financial statements of the associate.
The details of the associate are as follows:
Country of Effective Equity InterestName of Company incorporation 2010 2009 Principal Activities
% %
Petra Energy Berhad Malaysia 29.59 29.59 Investment holding.
On 10 September 2009, the Company disposed of 10.5 million ordinary shares of RM0.50 each in Petra Energy Berhad (“PEB”)at a price of RM1.53 per share via a private placement for a sale consideration of approximately RM16.1 million, resulting in a losson disposal of approximately RM0.6 million to the Group. After the disposal, the Company’s equity interest in PEB reduced from 60%to 54.62%.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 111
6. INVESTMENT IN AN ASSOCIATE (CONT’D)
On 11 December 2009, the Company further disposed of 48.8 million ordinary shares of RM0.50 each in PEB at a price of RM1.91per share for a sale consideration of approximately RM93.2 million, resulting in a gain on disposal of approximately RM13.3million to the Group. After the disposal, the Company’s equity interest in PEB further reduced from 54.62% to 29.59%. As a result,PEB became an associate of the Group and of the Company.
The summarised unaudited financial information of the associate is as follows:
2010 2009RM'000 RM'000
Assets and liabilitiesNon-current assets 354,225 369,073Current assets 355,581 344,327
Total assets 709,806 713,400
Current liabilities 265,530 271,344Non-current liabilities 137,263 136,423
Total liabilities 402,793 407,767
ResultsRevenue 633,935 504,141Net profit for the financial year 2,681 15,482
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
112 Petra Perdana Berhad
7. PROPERTY, PLANT AND EQUIPMENT
CurrencyAt Written Translation Depreciation Impairment At
1.1.2010 Additions Disposals Off Cancellation Transfers Difference Charge Loss 31.12.2010RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM’000 RM’000 RM’000 RM’000
The Group
Net Book Value
Vessels 220,995 3,151 (138,510) – – 200,785 (13,847) (19,144) – 253,430Vessel equipment 12,230 3,794 – – – 10,795 (1,961) (2,173) – 22,685Dry docking 38,615 6,757 – – – – (3,583) (13,598) (2,982) 25,209Leasehold buildings 1,702 – – – – – – (37) – 1,665Cabin, field and workshop
equipment 112 – – (9) – – – (18) – 85Motor vehicles 113 430 – – – – (2) (76) – 465Office equipment, furniture
and fittings 2,835 306 (5) – – – (3) (733) – 2,400Capital work-in-progress 183,094 176,621 (8,256) – (30,385) (211,580) (15,333) – – 94,161Others 1,002 286 – – – – (6) (448) – 834
460,698 191,345 (146,771) (9) (30,385) – (34,735) (36,227) (2,982) 400,934
Disposal Of ReclassifiedInterest In Acquisition Non-Current Currency
At A Subsidiary Of A Asset Held For Translation Depreciation At1.1.2009 Additions Disposals Transfers (Note 35) Subsidiary Sale (Note 17) Difference Charge 31.12.2009RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
The Group
Net Book Value
Vessels 303,632 124,234 (318,351) 452,921 (228,928) – (86,361) (1,717) (24,435) 220,995Vessel equipment 11,325 4,521 (2,486) – – – – (240) (890) 12,230Dry docking 29,622 38,687 – – (14,598) – – (727) (14,369) 38,615Leasehold buildings 6,362 – – – (4,485) – – – (175) 1,702Plant and machinery 3,495 101 (10) – (2,827) – – – (759) –Cabin, field and workshop
equipment 8,393 3,417 – – (6,212) – – 16 (5,502) 112Motor vehicles 1,650 132 – – (1,124) 31 – 2 (578) 113Office equipment, furniture
and fittings 1,367 2,941 (14) – (964) 300 – 4 (799) 2,835Capital work-in-progress 289,899 354,755 – (452,921) – – – (8,639) – 183,094Others 3,323 617 (116) – (1,591) 214 – 4 (1,449) 1,002
659,068 529,405 (320,977) – (260,729) 545 (86,361) (11,297) (48,956) 460,698
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 113
7. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
At Accumulated Impairment Net BookCost Depreciation Loss Value
The Group RM'000 RM'000 RM’000 RM'000
At 31.12.2010
Vessels 337,729 (84,299) – 253,430Vessel equipment 25,833 (3,148) – 22,685Dry docking 64,416 (36,225) (2,982) 25,209Leasehold buildings 1,860 (195) – 1,665Plant and machinery 10 (10) – –Cabin, field and workshop equipment 148 (63) – 85Motor vehicles 745 (280) – 465Office equipment, furniture and fittings 4,161 (1,761) – 2,400Capital work-in-progress 94,161 – – 94,161Others 3,215 (2,381) – 834
532,278 (128,362) (2,982) 400,934
At 31.12.2009
Vessels 292,299 (71,304) – 220,995Vessel equipment 13,379 (1,149) – 12,230Dry docking 67,625 (29,010) – 38,615Leasehold buildings 1,860 (158) – 1,702Plant and machinery 10 (10) – –Cabin, field and workshop equipment 159 (47) – 112Motor vehicles 318 (205) – 113Office equipment, furniture and fittings 3,872 (1,037) – 2,835Capital work-in-progress 183,094 – – 183,094Others 2,942 (1,940) – 1,002
565,558 (104,860) – 460,698
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
114 Petra Perdana Berhad
7. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
At Depreciation At1.1.2010 Additions Disposal Charge 31.12.2010RM'000 RM'000 RM'000 RM'000 RM'000
The Company
Net Book Value
Leasehold buildings 1,702 – – (37) 1,665Motor vehicle – 430 – (50) 380Office equipment, furniture and fittings 188 76 – (83) 181Capital work-in-progress 6,045 6,228 (8,409) – 3,864Others 602 104 – (275) 431
8,537 6,838 (8,409) (445) 6,521
At Depreciation At1.1.2009 Additions Transfers Charge 31.12.2009RM'000 RM'000 RM'000 RM'000 RM'000
Net Book Value
Leasehold buildings 1,739 – – (37) 1,702Office equipment, furniture and fittings 267 6 – (85) 188Capital work-in-progress 40,141 2,873 (36,969) – 6,045Others 894 10 1 (303) 602
43,041 2,889 (36,968) (425) 8,537
At Accumulated Net BookCost Depreciation Value
RM'000 RM'000 RM'000At 31.12.2010
Leasehold buildings 1,860 (195) 1,665Motor vehicle 430 (50) 380Office equipment, furniture and fittings 554 (373) 181Capital work-in-progress 3,864 – 3,864Others 1,755 (1,324) 431
8,463 (1,942) 6,521
The Company
At 31.12.2009
Leasehold buildings 1,860 (158) 1,702Office equipment, furniture and fittings 478 (290) 188Capital work-in-progress 6,045 – 6,045Others 1,651 (1,049) 602
10,034 (1,497) 8,537
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 115
7. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
Capital work-in-progress are in respect of vessels under construction and cranes not ready for commercial use at the end of thereporting period.
During the financial year, the Group cancelled a vessel under construction amounting to RM30,385,261.
Included in the net book value of property, plant and equipment at the end of the reporting period are the following assets acquiredunder hire purchase terms:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Motor vehicles 465 113 380 –
Included in capital work-in-progress is interest expense capitalised during the financial year of RM658,160 (2009 – RM4,738,997).
The net book value of property, plant and equipment at the end of the reporting period pledged as security for the issuance of bondsand medium term notes by the Group was as follows:
The Group2010 2009RM'000 RM'000
Vessels, including dry docking expenses capitalised 167,423 208,580
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
116 Petra Perdana Berhad
8. AMOUNTS OWING BY/(TO) SUBSIDIARIES
The Company2010 2009
Note RM’000 RM’000Amount owing by:Non-currentQuasi loan (a) 400,949 353,576
CurrentNon-trade (b) 4,333 4,084Allowance for impairment losses:– at 1 January (4,057) (5,001)– addition (5) –– write-back – 944
– at 31 December (4,062) (4,057)
271 27
401,220 353,603
Amount owing to:CurrentNon-trade (b) (123,839) (95,862)
(a) The settlement of the non-current amount owing by subsidiaries is neither planned nor likely to occur in the foreseeable future.As this amount is, in substance, a part of the Company’s net investment in the subsidiaries, it is stated at cost less impairmentlosses, if any.
(b) The amounts owing by/(to) the subsidiaries are non–trade in nature, interest-free, unsecured and repayable on demand. Theamounts are to be settled in cash.
9. REFUNDABLE DEPOSITS
The deposits are placed with vessel owners for the long lease of vessels for periods ranging from five (5) to ten (10) years.
Upon adoption of FRS 139 during the financial year, the Group designated its non-current refundable deposits as loans andreceivables financial assets, measured at amortised cost using the effective interest method. The financial effect on the adoption ofthis new accounting standard is disclosed in Note 3(a)(iii) to the financial statements.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 117
10. INTANGIBLE ASSETS
The Group2010 2009RM'000 RM'000
Goodwill:At 1 January 27,507 27,507Acquisition of additional interest in a subsidiary – 1,434Disposal of interest in a subsidiary (Note 35) – (1,434)
At 31 December 27,507 27,507
Goodwill has been allocated for impairment testing to the Group’s cash-generating unit (“CGU”).
At the end of the reporting period, the Group assessed the recoverable amount of the goodwill and determined that the goodwillwas not impaired.
The recoverable amount of a CGU is determined based on the value-in-use calculations. These calculations use post-tax cash flowprojections based on financial budgets approved by management covering a period of five (5) years.
The key assumptions used for the value-in-use calculations are as follows:
2010 2009
Gross margin 6% – 44% 8% – 50%Growth rate 1% 1% – 5%Discount rate 11% 11%
Management determined the budgeted gross margin based on past performance and its expectations of market development. Thegrowth rate used is based on the past years’ achievement and the expected contracts to be secured. The discount rates used are pre-tax and reflect specific risks relating to the relevant segments.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
118 Petra Perdana Berhad
11. DEFERRED TAX ASSETS
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
At 1 January 46 62 46 46Disposal of interest in a
subsidiary (Note 35) – (16) – –
At 31 December 46 46 46 46
The deferred tax assets comprise:The Group The Company
2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Excess of depreciation overcapital allowances 46 46 46 46
12. INVENTORIES
The Group2010 2009RM'000 RM'000
Consumables, at cost 6,908 5,533
Inventories represent fuel, various oils, spare parts and calling cards. None of the inventories is carried at net realisable value.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 119
13. RECEIVABLES
The Group The Company2010 2009 2010 2009
Note RM’000 RM’000 RM’000 RM’000
Trade receivables 46,316 247,010 – –Allowance for
impairment losses:– at 1 January (297) (9,770) – –– write-back – 555 – –– disposal of interest in
a subsidiary 35 – 8,918 – –
– at 31 December (297) (297) – –
46,019 246,713 – –Disposal of interest in
a subsidiary 35 – (200,444) – –
Net trade receivables 46,019 46,269 – –
Other receivables,deposits andprepayments 55,166 129,066 1,740 15,104
Allowance forimpairment losses:– at 1 January (1,572) (1,826) – –– addition (320) – – –– disposal of interest in
a subsidiary 35 – 254 – –
– at 31 December (1,892) (1,572) – –
53,274 127,494 – –Disposal of interest in
a subsidiary 35 – (75,936) – –
Net other receivables,deposits and prepayments 53,274 51,558 1,740 15,104
99,293 97,827 1,740 15,104
The Group’s normal trade credit terms range from 30 to 90 days. Other credit terms are assessed and approved on a case-by-case basis.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
120 Petra Perdana Berhad
14. AMOUNTS OWING BY/(TO) RELATED PARTIES
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Amount owing by:Trade balance 30,798 29,887 – –Allowance for impairment losses:
– at 1 January – – – –– addition (1,899) – – –
– at 31 December (1,899) – – –
28,899 29,887 – –
Non-trade balance 10,516 8,307 259 259Allowance for impairment losses:
– at 1 January – – – –– addition (2,801) – – –
– at 31 December (2,801) – – –
7,715 8,307 259 259
36,614 38,194 259 259
Amount owing to:Non-trade balance (33) (236) (32) (3)
The normal credit terms for trade amounts range from 60 to 90 days.
The non-trade amounts are unsecured, interest-free and repayable on demand. The amounts owing are to be settled in cash.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 121
15. AMOUNTS OWING BY/(TO) AN ASSOCIATE
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Amount owing by:Current – 51,649 – 51,649
Amount owing to:Current – (1,975) – (1,975)
In the previous financial year, the amount owing by the associate was non-trade in nature, unsecured and subject to an interest rateof 7.5% (2009 - 7.5%) per annum. The amount owing has been fully settled during the financial year.
In the previous financial year, the amount owing to the associate was non-trade in nature, unsecured and interest-free. The amounthas been fully settled during the financial year.
16. FIXED DEPOSITS WITH LICENSED BANKS
The fixed deposits pledged to banks for banking facilities granted to the Group are as follows:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Fixed deposits pledged as security (Note 37) 31,538 144,306 29,060 144,306
The effective interest rates of the fixed deposits at the end of the reporting period were as follows:
The Group The Company2010 2009 2010 2009% % % %
Fixed deposits with licensed banks 0.02 to 2.75 0.47 to 2.25 1.35 to 2.75 1.35 to 2.25
The fixed deposits have maturity periods ranging from 1 day to 182 days (2009 – 1 day to 182 days).
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
122 Petra Perdana Berhad
17. NON-CURRENT ASSET CLASSIFIED AS HELD FOR SALE
The Group2010 2009RM'000 RM'000
Reclassified from property, plant and equipment:A vessel, at cost – 86,361
The sale of the vessel was completed during the financial year.
Included in vessel cost in the previous financial year was interest expense capitalised amounting to RM425,286.
18. SHARE CAPITAL
The Group/The Company2010 2009 2010 2009
Number Of Shares (‘000) RM'000 RM'000Ordinary Shares OfRM0.50 Each:
Authorised 1,000,000 1,000,000 500,000 500,000
Issued And Fully Paid-UpAt 1 January 297,600 297,600 148,800 148,800Private placement 29,760 – 14,880 –Rights issue 122,760 – 61,380 –
At 31 December 450,120 297,600 225,060 148,800
During the financial year, the Company increased its issued and paid–up share capital from RM148,800,000 toRM225,060,000 by:
(i) an issuance of 29,760,000 new ordinary shares of RM0.50 each for cash for the purpose of payment of charter deposits andworking capital use pursuant to the Company’s private placement at a subscription price of RM1.32 per share on 30 June 2010.The new shares were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 2 July2010; and
(ii) an issuance of 122,760,000 new ordinary shares of RM0.50 each for cash for the purpose of repayment of borrowings andworking capital use pursuant to the Company’s renounceable rights issue with free detachable warrants (“Rights Issue”) on thebasis of three (3) rights shares (“Rights Shares”) for every eight (8) existing ordinary shares of RM0.50 each held in theCompany together with 61,379,785 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every two (2)Rights Shares subscribed at an issue price of RM0.59 per Right Share on 27 October 2010. The new shares were listed andquoted on the Main Market of Bursa Securities on 1 November 2010.
The new ordinary shares issued during the financial year ranked pari passu in all respect with the existing ordinary shares ofthe Company.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 123
19. RESERVES
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Non-distributable:Share premium 82,892 60,377 82,892 60,377Warrant reserve (Note 20) 11,048 – 11,048 –Capital redemption reserve – 2,127 – –Translation reserve (56,579) 56 – –Cash flow hedge reserve (1,311) – – –Other capital reserve 2,127 – – –
38,177 62,560 93,940 60,377
Distributable:Retained profits 240,798 352,309 138,116 159,377
278,975 414,869 232,056 219,754
(a) Share Premium
The share premium is not distributable by way of cash dividends and may be utilised in the manner set out in Section 60(3) ofthe Companies Act 1965.
(b) Cash Flow Hedge Reserve
This reserve comprises the effective portion of the cumulative gains and losses on the hedging instrument deemed effective ina cash flow hedge.
The Group2010 2009RM'000 RM'000
At 1 January – –Loss on cash flow hedge (3,070) –Reclassify to profit or loss-other expenses 1,759 –
At 31 December (1,311) –
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
124 Petra Perdana Berhad
19. RESERVES (CONT’D)
(c) Retained Profits
Subject to the agreement of the tax authorities, at the end of the reporting period, the Company has:
(a) tax-exempt income of approximately RM88,260,517 (2009 – RM48,063,055) available for the purpose of paying tax-exempt dividends; and
(b) tax credits under Section 108 of the Income Tax Act 1967 to frank the payment of dividends of approximatelyRM27,096,000 (2009 – RM31,560,000) out of its retained profits.
At the end of the reporting period, the Company has not elected for the single tier tax system. When the tax credit balanceis fully utilised, or by 31 December 2013 at the latest, the Company will automatically move to the single tier tax system.Under the single tier tax system, tax on the Company’s profits is a final tax, and dividends distributed to the shareholderswill be exempted from tax.
(d) Capital Redemption Reserve
This reserve represents the redemption of the redeemable non-cumulative non-voting preference shares by a subsidiaryincorporated in the Federal Territory of Labuan.
Following the amendment to the Labuan Companies Act 1990 of not having par value shares and no minimum share capitalrequirements during the financial year, this reserve has been reclassified to other capital reserve.
20. WARRANT RESERVE
During the financial year, the Company issued 61,379,785 free Warrants pursuant to the Rights Issue as disclosed in Note 18(ii) tothe financial statements. Pursuant to FRSIC Consensus 9 - Accounting for Rights Issue with Free Warrants, the proceeds from the RightsIssues (net of issue costs) have been allocated between the new ordinary shares issued and the Warrants based on their fair valuesat the date of issue.
The salient terms of the Warrants 2010/2015 are as follows:
(a) Each Warrant entitles the registered holder to subscribe for one (1) new ordinary share of RM0.50 each in the Company atany time on or before the maturity date, 26 October 2015, falling five (5) years from the date of issue of the Warrants.Unexercised Warrants after the exercise period will thereafter lapse and cease to be valid;
(b) The exercise price of the Warrants is fixed at RM1.00 per Warrant;
(c) The new ordinary shares to be issued upon the exercise of the Warrants shall rank pari passu in all respects with the existingordinary shares of the Company; and
(d) The Warrants were listed and quoted on the Main Market of Bursa Securities on 1 November 2010.
The movements of the Warrants during the financial year are as follows:
Entitlement For Ordinary Shares Of RM0.50 EachIssued On At27.10.2010 Exercised Cancelled 31.12.2010
Number of unexercised Warrants 61,379,785 – – 61,379,785
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 125
21. DEFERRED TAXATION
The Group2010 2009RM'000 RM'000
At 1 January 2,060 30,908Translation differences (2) 14Recognised in profit or loss (Note 31) 1,990 (1,017)Acquisition of additional interest in a subsidiary – 40Disposal of interest in a subsidiary (Note 35) – (27,885)
At 31 December 4,048 2,060
The deferred tax liability is attributable to the following:
The Group2010 2009RM'000 RM'000
Excess of capital allowances over depreciation 4,048 2,060
22. LONG–TERM BORROWINGS
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Hire purchase payables (Note 23) 348 63 305 –Term loans (Note 24) 145,740 227,000 104,803 227,000
146,088 227,063 105,108 227,000
23. HIRE PURCHASE PAYABLES
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Minimum hire purchase payments:– not later than one year 98 22 77 –– later than one year and
not later than five years 357 73 307 –– later than five years 38 – 38 –
493 95 422 –Less: Future finance charges (69) (13) (59) –
Present value of hire purchase payables 424 82 363 –
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
126 Petra Perdana Berhad
23. HIRE PURCHASE PAYABLES (CONT’D)
The net hire purchase payables are repayable as follows:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Current:– not later than one year (Note 27) 76 19 58 –
Non-current:– later than one year and
not later than five years 311 63 268 –– later than five years 37 – 37 –
Total non-current portion (Note 22) 348 63 305 –
424 82 363 –
The hire purchase payables at the end of the reporting date bore effective interest rates ranging from 3.99% to 5.64% (2009 – 2.42%)per annum.
24. TERM LOANS
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Current portion:– repayable within one year (Note 27) 98,732 218,000 95,020 218,000
Non-current portion:– repayable between one to two years 79,800 177,000 69,933 177,000– repayable between two to five years 65,940 50,000 34,870 50,000
Total non-current portion (Note 22) 145,740 227,000 104,803 227,000
244,472 445,000 199,823 445,000
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 127
24. TERM LOANS (CONT’D)
(a) Secured Serial Bonds
On 30 March 2006, the Company issued RM400,000,000 nominal value secured serial bonds ("Bonds"). The Bonds wereissued in nine (9) series, as follows:
Coupon RateSeries Nominal Value Maturity Date Per Annum
RM'000
A 120,000 30 March 2009 6.24%B 35,000 30 September 2009 5.75%C 35,000 30 March 2010 5.90%D 35,000 30 September 2010 6.10%E 35,000 30 March 2011 6.30%F 35,000 30 September 2011 6.55%G 35,000 30 March 2012 6.65%H 35,000 28 September 2012 6.75%I 35,000 29 March 2013 6.85%
The coupon payment is due semi-annually in arrears.
(b) Medium Term Notes
On 3 November 2006, the Company issued RM50,000,000 nominal value medium term notes ("MTN"). The issuance of MTNwas made in four (4) series, as follows:
Coupon RateSeries Nominal Value Maturity Date Per Annum
RM’000
A 15,000 3 May 2010 5.75%B 10,000 3 November 2010 5.90%C 15,000 3 May 2011 6.10%D 10,000 3 November 2011 6.30%
The coupon payment is due semi-annually in arrears.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
128 Petra Perdana Berhad
24. TERM LOANS (CONT’D)
Both the Bonds and MTN are secured by:
(i) a fixed charge over the shares of certain subsidiaries and an associate;
(ii) an assignment and charge over the revenue generated by certain vessels of the Group;
(iii) an assignment and charge over the insurance proceeds of certain vessels of the Group;
(iv) a fixed charge over certain vessels of the Group; and
(v) various undertakings by the Company.
(c) Syndicated Transferable Term Loan
On 27 February 2009 and 3 March 2009, the Company accepted a syndicated transferable term loan facilities of up toRM150 million. The said loan is repayable as follows:
Coupon RateFacility Tranche Nominal Value Maturity Date Per Annum
RM’000
B 1 15,000 12 March 2010 ECOF+1.50%B 2 15,000 12 March 2011 ECOF+1.75%B 3 45,000 12 March 2012 ECOF+2.00%B 4 60,000 12 March 2013 ECOF+2.25%A 15,000 12 March 2013 ECOF+2.25%
Where ECOF is the respective Lenders’ prevailing one (1) month Effective Cost of Funds. The coupon payment is due monthlyin arrears.
The syndicated transferable term loans are secured by:
(i) an assignment of inter-company loans due to the Company by the associate;
(ii) a legal assignment of the Company’s rights over the net deposit refund under the charterer deposit agreement andmemorandum of agreement in relation to certain vessels;
(iii) a charge over the shares of the associate; and
(iv) a charge over an escrow account created for the purpose of setting aside an amount equivalent to at least one (1) monthinterest and any amount received under the security.
The syndicated transferable term loans have been fully prepaid during the financial year.
(d) Commodity Murabahah Term Financing-i
On 18 March 2010, a subsidiary accepted a Commodity Murabahah Term Financing facility denominated in United StatesDollar (USD) with a nominal value of USD14,480,000 (equivalent to RM46,408,400).
This foreign currency term loan is being hedged by a cross-currency interest rate swap as disclosed in Note 25 to the financialstatements and is repayable by eighteen (18) quarterly installments ranging from RM961,500 to RM10,191,900, commencingJanuary 2011.
The effective interest rate of the foreign currency term loan at the end of the reporting period was 5.58% (2009 - nil) per annum.
The foreign currency term loan is secured by a corporate guarantee provided by the Company.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 129
25. DERIVATIVE LIABILITY
During the financial year, the Group entered into a USD-MYR cross-currency interest rate swap to hedge the cash flow and interestrate risks of its foreign currency floating rate term loan as mentioned in Note 24(d) to the financial statements. The cross-currencyinterest rate swap has been designated as a cash flow hedge and was assessed to be highly effective.
The cross-currency interest rate swap is used to hedge the Group’s exposure to changes in the functional currency equivalent cashflows and interest rate of the foreign currency term loan. This swap entitles the Group to receive USD LIBOR and USD equivalent ofthe principal whereby the repayments are made in Ringgit Malaysia based on an agreed exchange rate of 3.205. The swap alsoentitles the Group to receive a floating interest equal to a 3-month USD LIBOR+2.00% per annum and pays a 3-month KLIBOR+2.00%per annum.
The swap has the same maturity terms as that of the foreign currency term loan.
26. PAYABLES
The Group The Company2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000
Trade payables 36,186 30,025 – –Other payables and accruals:– other payables 13,167 79,960 1,847 3,381– accruals 17,372 15,299 6,933 5,611– dividend payable 7 13 7 13
30,546 95,272 8,787 9,005
66,732 125,297 8,787 9,005
The payables are repayable as follows:– non-current 260 241 214 201– current 66,472 125,056 8,573 8,804
66,732 125,297 8,787 9,005
The normal trade credit terms granted to the Group range from 30 to 90 days.
27. SHORT-TERM BORROWINGS
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Hire purchase payables (Note 23) 76 19 58 –Term loans (Note 24) 98,732 218,000 95,020 218,000
98,808 218,019 95,078 218,000
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
130 Petra Perdana Berhad
28. NET ASSETS PER ORDINARY SHARE
The net assets per ordinary share is calculated based on the net assets value of RM504,035,000 (2009 – RM563,669,000) dividedby the number of ordinary shares in issue at the end of the reporting period of 450,120,000 (2009 – 297,600,000) shares.
29. REVENUE
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Chartered vessel income 254,887 540,148 – –Contract revenue – 65,536 – –Dividend income – – 11,523 46,209Management fee – – – 1,620Rental income – – 158 338
254,887 605,684 11,681 48,167
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 131
30. (LOSS)/PROFIT BEFORE TAXATION
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
(Loss)/Profit beforetaxation is arrived at aftercharging/(crediting):
Audit fee:– current financial year 239 338 116 56– underprovision in the
previous financial year 6 13 – –Allowance for impairment
loss on receivables/relatedparties/subsidiaries 5,020 – 5 –
Amortisation of prepaidlease payments – 118 – –
Depreciation ofproperty, plant andequipment 7 36,227 48,956 445 425
Directors' remuneration:– fees 38 371 216 371 177– other emoluments 38 4,024 1,412 2,109 622– retirement contributions 38 23 39 17 20– benefits-in-kind 38 259 132 193 82
Hire of equipment 478 25,757 – –Impairment loss on property,
plant and equipment 2,982 – – –Impairment loss on refundable
deposits 9,380 – – –Interest expense:– bond and MTN 16,218 18,416 16,218 22,404– hire purchase 15 34 11 –– syndicated transferable term loan 2,894 6,688 1,751 6,691– foreign currency term loan 1,837 – – –– revolving credit 687 632 687 632Inventories written off – 2 – –Lease rental of vessels 102,247 61,986 – –Loss/(Gain) on foreign exchange:– realised 5,507 3,184 138 (309)– unrealised (9,464) (399) – –
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
132 Petra Perdana Berhad
30. (LOSS)/PROFIT BEFORE TAXATION (CONT’D)
The Group The Company2010 2009 2010 2009
Note RM’000 RM’000 RM’000 RM’000
Preliminary expenses – 25 – –Property, plant and
equipment written off 7 9 – – –Provision for
retirement contributions – 58 – 9Rental of premises 795 1,792 366 366Staff costs 40,862 142,187 4,471 5,315Accretion of refundable deposits
at amortised cost (3,657) – – –Bad debts recovered – (56) – –Dividend income:– associate – – (577) –– subsidiaries – – (10,946) (46,209)Gain on transfer of property,
plant and equipment – – – (554)Gain on disposal
of interest in a subsidiary 35 – (12,677) – (86,351)(Gain)/Loss on disposal of
property, plant and equipment (424) (3,165) 1,509 –Gain on disposal of
non-current assetclassified as held for sale (5,855) (1,952) – –
Interest income from:– associate (2,301) (326) (2,301) (326)– fixed deposits (1,368) (3,519) (1,298) (2,058)– subsidiaries – – (924) (9,252)Management fee:– associate – (135) – (135)– subsidiaries – – – (1,485)Rental income:– associate – (15) – (15)– subsidiaries – – (158) (323)– third party (8) – – –Waiver of debts (107) (866) – –Write-back of impairment
loss on receivables – (555) – (944)
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 133
31. INCOME TAX EXPENSE
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Current tax expense:– Malaysian tax (2,392) 8,654 – 364– foreign tax 652 4,663 – 173
(1,740) 13,317 – 537– (over)/underprovision in the previous
financial years (741) 51 (8) (306)
(2,481) 13,368 (8) 231
Deferred taxation (Note 21):– relating to origination and
recognition of temporary differences 475 (1,017) – –– underprovision in the
previous financial year 1,515 – – –
1,990 (1,017) – –
(491) 12,351 (8) 231
A reconciliation of the income tax expense applicable to the (loss)/ profit before taxation at the statutory tax rates to the income taxexpense at the effective tax rate of the Group and of the Company is as follows:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
(Loss)/Profit before taxation (72,897) 48,701 (17,003) 105,625
Tax at the statutory tax rates of 25% (18,224) 12,175 (4,251) 26,406
Tax effects of:Non-taxable gains (3,128) (27,486) (2,920) (32,626)Non-deductible expenses 23,396 31,565 7,171 6,757Utilisation of previously unrecognised
deferred tax assets (3,175) (3,702) – –(Over)/Underprovision of current tax in
the previous financial year (741) 51 (8) (306)Underprovision of deferred tax in the
previous financial year 1,515 – – –Differential in tax rates (134) (252) – –
Tax for the financial year (491) 12,351 (8) 231
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
134 Petra Perdana Berhad
32. (LOSS)/EARNINGS PER SHARE
The basic (loss)/ earnings per share (“EPS”) is arrived at by dividing the Group’s (loss)/ profit attributable to the equity holders ofthe Company of RM72,002,000 (2009 – RM29,317,000) by the weighted average number of ordinary shares in issue during thefinancial year of 334,463,671 (2009 – 297,600,000 ordinary shares).
Diluted loss per share was not presented for the current financial year as there is an anti-dilutive effect arising from the assumedconversion of the Warrants.
In the previous financial year, the diluted earnings per share was not applicable as there were no dilutive potential ordinary sharesoutstanding at the end of the previous reporting period.
33. DIVIDENDS
The Group/The Company2010 2009RM'000 RM'000
In respect of financial year ended 31 December 2008First and final dividend of 2.0 sen per ordinary share ofRM0.50 each less tax of 25% – 4,464
In respect of financial year ended 31 December 2009First and final dividend of 2.0 sen per ordinary share ofRM0.50 each less tax of 25% 4,464 –
The directors do not recommend the payment of any dividend in respect of the financial year ended 31 December 2010.
34. INVESTMENT IN NEW SUBSIDIARIES
(a) During the current financial year, the following subsidiary was incorporated:
Group’s Effective IncorporationName of Subsidiary Interest (%) Date
Perdana Nautika Sdn. Bhd. 55 19 November 2010
(b) In the previous financial year, the following subsidiaries were incorporated:
Group’s Effective IncorporationName of Subsidiaries Interest (%) Date
Perdana Jupiter Limited 100 12 May 2009Perdana Neptune Limited 100 23 June 2009Perdana Pluto Limited 100 12 August 2009Perdana Saturn Limited 100 12 August 2009
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 135
35. SUMMARY OF EFFECTS ON DISPOSAL OF A SUBSIDIARY
Group’sNet Effective Effective
Incidental Sales Interest DisposalSubsidiary Consideration Costs Proceeds Disposed Date
RM’000 RM’000 RM’000 (%)
PEB 16,065 (218) 15,847 5.38 10 September 2009PEB 93,208 (2,937) 90,271 25.03 11 December 2010
109,273 (3,155) 106,118 30.41
The details of the assets, liabilities and net cash inflows arising from the disposal of interest in the subsidiary were as follows:
The Group/The Company
2009Note RM’000
Property, plant and equipment 7 260,729Prepaid lease payments 7,157Investment in associate 40Intangible assets 10 1,434Deferred tax assets 11 16Cash and cash equivalents 45,356Trade receivables 13 191,526Other receivables, deposits and prepayments 13 75,682Other net current liabilities (245,133)Deferred taxation 21 (27,885)Other non-current liabilities (534)
Total equity 308,388Less: Minority interests (123,880)Less: Interest retained in the subsidiary disposed of (91,067)
Net assets disposed 93,441Gain on disposal of interest in a subsidiary 30 12,677
Net sales proceeds received 106,118Less: Cash and cash equivalents of the subsidiary disposed of (45,356)
Net cash inflow on disposal of interest in a subsidiary 60,762
There was no disposal of subsidiary during the financial year.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
136 Petra Perdana Berhad
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
36. PURCHASE OF PROPERTY, PLANT AND EQUIPMENT
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Property, plant and equipment purchased 191,345 529,405 6,838 2,889Less: Amount financed through hire purchase (390) (96) (390) –
Cash disbursed for the purchase of property,plant and equipment 190,955 529,309 6,448 2,889
37. CASH AND CASH EQUIVALENTS
For the purpose of the statements of cash flows, cash and cash equivalents comprise the following:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Fixed deposits with licensed banks 51,188 158,437 47,360 152,392Cash and bank balances 18,293 21,288 3,018 8,270
69,481 179,725 50,378 160,662Less: Fixed deposits pledged as security
(Note 16) (31,538) (144,306) (29,060) (144,306)
37,943 35,419 21,318 16,356
2010annual report 137
38. DIRECTORS’ REMUNERATION
The aggregate amount of remuneration received and receivable from the Group by directors of the Company during the financialyear are as follows:
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Executive Directors:
– fee 199 126 199 87– non-fee emoluments 4,027 1,451 2,106 642
4,226 1,577 2,305 729
Independent Non-Executive Directors:
– fee 172 90 172 90– non-fee emoluments 20 – 20 –
192 90 192 90
Total directors’ remuneration 4,418 1,667 2,497 819Estimated money value of benefits-in-kind 259 132 193 82
Total directors’ remuneration, includingbenefits-in-kind 4,677 1,799 2,690 901
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
138 Petra Perdana Berhad
38. DIRECTORS’ REMUNERATION (CONT’D)
The number of directors of the Company whose total remuneration received/receivable from the Group during the financial yearfell within the following bands is analysed below:
Number Of DirectorsThe Group The Company
2010 2009 2010 2009
Executive Directors
Below RM50,000 1 – 1 1RM50,001 – RM100,000 – – 1 –RM100,001 – RM150,000 1 – 1 –RM250,001 – RM300,000 – 1 – 1RM500,001 – RM550,000 – 1 – 1RM550,001 – RM600,000 1 – 1 –RM750,001 – RM800,000 – – 1 –RM900,001 – RM950,000 – 1 – –RM950,001 – RM1,000,000 – – 1 –RM1,000,001 – RM1,050,000 1 – – –RM1,050,001 – RM1,100,000 1 – – –RM1,650,001 – RM1,700,000 1 – – –
6 3 6 3IndependentNon-Executive Directors
Below RM50,000 6 3 6 3RM50,001 – RM100,000 1 – 1 –
7 3 7 3
13 6 13 6
During the financial year, four (4) directors were removed from the Board and one (1) director had resigned.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 139
39. RELATED PARTY DISCLOSURES
The Group has related party relationships with:
(a) its subsidiaries, associate and related parties as disclosed in Note 5, Note 6 and Note 14 to the financial statements; and
(b) key management personnel of the Group.
In addition to the information detailed elsewhere in the financial statements, the Group carried out the following transactions withthe related parties during the financial year:
The Group The Company2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000Associate:– dividend income – – 577 –– interest and finance income 2,301 326 2,301 326– management fee income – 135 – 135– rental income – 15 – 15
Subsidiaries:– dividend income – – 10,946 46,209– handling fee paid/payable – – 522 596– Interest and finance income – – 924 9,252– management fee income – – – 1,485– rental income – – 158 323
Related parties: (i)– chartered vessel income 94,070 6,084 – –– retainer fee paid/payable – 39 – 39– sales of property, plantand equipment 96,600 – – –
Key management personnelcompensation:– short-term employee benefits 5,752 6,412 2,673 1,957– post employment benefits 23 58 17 9
Note:
(i) A company in which a director of a subsidiary has a substantial financial interest.
The details of the outstanding amounts with the subsidiaries, the related parties and the associate are disclosed in Note 8, Note 14and Note 15 to the financial statements.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
140 Petra Perdana Berhad
40. CAPITAL COMMITMENT
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Approved and Contracted For
Purchase of property, plant and equipment 198,276 448,660 4,547 10,747
41. CONTINGENT LIABILITIES
The Group The Company2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
UnsecuredCorporate guarantee
given to licensed banksand financial institutionsfor credit facilitiesgranted to related parties 9,508 32,233 9,508 32,233
Bank guarantee grantedto third parties forbenefit of a subsidiary 2,320 2,591 2,320 2,591
Performance guaranteeextended by subsidiariesto third parties 5 5 – –
11,833 34,829 11,828 34,824
42. LEASE COMMITMENTS
The Group2010 2009RM'000 RM'000
Lease rentals payable:– within one year 105,137 97,958– within two to five years 373,316 365,329– within six to ten years 232,191 342,955
710,644 806,242
The lease rentals payable are in respect of lease agreements entered into by subsidiaries for lease of vessels for periods ranging fromfive (5) to ten (10) years and for the office and warehouse.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 141
43. FOREIGN EXCHANGE RATES
The applicable closing foreign exchange rates used (expressed on the basis of one unit of foreign currency to Ringgit Malaysiaequivalent) for the translation of material foreign currency balances at the end of the reporting period are as follows:
The Group/The Company2010 2009RM RM
Australian Dollar 3.1515 3.0700Singapore Dollar 2.3908 2.4408United States Dollar 3.0905 3.4295
44. OPERATING SEGMENTS
Operating segments are prepared in a manner consistent with the internal reporting provided to the Group Executive Committee asits chief operating decision maker in order to allocate resources to segments and to assess their performance. For managementpurposes, the Group is organised into business units based on their products and services provided.
The Group is organised into three (3) main business segments as follows:
(i) Marine offshore support services segment - provision of vessels for the upstream oil and gas industry, ranging from towing,mooring and anchoring of non-self propelled marine vessels; transportation of drilling equipment, production chemicals andproject materials to engineering and workshop facilities onboard.
(ii) Integrated brownfield, engineering and maintenance services segment - provision of services includes top-side majormaintenance hook-up commissioning and construction; engineering, operations and maintenance; equipment packaging andmanufacturing; oil field optimisation, design and fabrication of processed equipment and boiler for the oil and gas,petrochemical and general industries.
(iii) Investment holding segment - provide group-level corporate services and treasury functions and investments in equities.
The Group Executive Committee assesses the performance of the operating segments based on operating results which are measureddifferently from those disclosed in the consolidated financial statements.
Assets, liabilities and expenses which are common and cannot be meaningfully allocated to the operating segments are presentedunder unallocated items. Unallocated item comprises mainly investment in associate.
Transfer prices between operating segments are at arm’s length basis in a manner similar to transactions with third parties.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
142 Petra Perdana Berhad
44. OPERATING SEGMENTS (CONT’D)
BUSINESS SEGMENTS
IntegratedBrownfield,
Marine EngineeringOffshore AndSupport Maintenance Investment
2010 Services Services Holding Elimination GroupRM’000 RM’000 RM’000 RM’000 RM’000
RevenueExternal revenue 254,887 – – – 254,887Inter-segment revenue 168,410 – 11,681 (180,091) –
423,297 – 11,681 (180,091) 254,887
ResultsSegment results (73,120) – 2,222 20,569 (50,329)Finance costs (4,641) – (19,426) 1,112 (22,955)
(77,761) – (17,204) 21,681 (73,284)
Share of results inan associate 387
Income tax expense 491
Consolidated lossafter taxation (72,406)
AssetsSegment assets 603,023 – 662,980 (445,916) 820,087
Deferred tax assets 46Tax recoverable 3,758
Consolidated total assets 823,891
LiabilitiesSegment liabilities 355,748 – 210,968 (251,985) 314,731
Deferred taxation 4,048Provision for taxation 860
Consolidated total liabilities 319,639
Other segment itemsAdditions to non-current assets other than financial instruments:– investment in subsidiary – – 55 (55) –– property, plant
and equipment 184,507 – 6,838 – 191,345
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 143
44. OPERATING SEGMENTS (CONT’D)
BUSINESS SEGMENTS (CONT’D)
IntegratedBrownfield,
Marine EngineeringOffshore AndSupport Maintenance Investment
2009 Services Services Holding Elimination GroupRM’000 RM’000 RM’000 RM’000 RM’000
RevenueExternal revenue 227,618 377,916 150 – 605,684Inter-segment revenue 177,689 159 48,017 (225,865) –
405,307 378,075 48,167 (225,865) 605,684
ResultsSegment results 36,112 37,126 134,874 (125,968) 82,144Finance costs (1,244) (7,739) (32,964) 9,252 (32,695)
Profit before taxation 34,868 29,387 101,910 (116,716) 49,449
Share of results inan associate (748)
Income tax expense (12,351)
Consolidated profitafter taxation 36,350
AssetsSegment assets 730,827 – 820,598 (415,391) 1,136,034
Deferred tax assets 46Tax recoverable 5,057
Consolidated total assets 1,141,137
LiabilitiesSegment liabilities 339,003 – 457,939 (224,352) 572,590
Deferred taxation 2,060Provision for taxation 2,238
Consolidated total liabilities 576,888
Other segment itemsAdditions to non-current assets other than financial instruments:– investment in subsidiary – – 394 (394) –– property, plant
and equipment 383,090 143,415 2,900 – 529,405
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
144 Petra Perdana Berhad
44. OPERATING SEGMENTS (CONT’D)
BUSINESS SEGMENTS (CONT’D)
The following items are added to/ (deducted from) segment profit to arrive at the consolidated (loss)/ profits after taxation:
The Group2010 2009RM’000 RM’000
Accretion of refundable deposits at amortised cost 3,657 –Gain on disposal of interest in a subsidiary – 12,677Gain on disposal of property, plant and equipment 424 3,165Gain on disposal of non-current asset classified as held for sale 5,855 1,952Allowance for impairment loss on receivables/ related parties (5,020) –Impairment loss on property, plant and equipment (2,982) –Impairment loss on refundable deposits (9,380) –
GEOGRAPHICAL SEGMENTS
The Group The GroupRevenue Non-Current Assets
2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Malaysia 169,877 495,403 463,080 388,724Singapore 51,898 43,091 399 488Marshall Islands 33,079 59,766 144,307 287,500Australia 33 7,424 51 79
254,887 605,684 607,837 676,791
MAJOR CUSTOMERS
Revenue from four (4) major customers, with revenue equal to or more than 10% of Group revenue, amounts to RM221,990,000(2009 – RM205,504,000).
45. FINANCIAL INSTRUMENTS
(a) Financial Risk Management Policies
The Group’s financial risk management policy seeks to ensure that adequate financial resources are available for thedevelopment of the Group’s businesses whilst managing its market risk (including foreign currency risk, interest rate risk andequity risk), credit risk and liquidity risk. The Group’s policies in respect of the major areas of treasury activity are as follows:
(i) Market Risk
(i) Foreign Currency Risk
The Group is exposed to foreign exchange risk arising mainly from normal trading transactions that are denominatedin foreign currencies. It manages its foreign exchange exposure by a policy of matching as far as possible receiptsand payments in each individual currency. The Group’s foreign currency transactions and balances are substantiallydenominated in United States Dollar (USD). Foreign currency risk is managed to an acceptable level.
On occasion, the Group enters into a variety of derivative financial instruments to manage its exposure to the foreigncurrency risk.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 145
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
United States Singapore Australian RinggitDollar Dollar Dollar Others Malaysia Total
The Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2010
Financial assetsRefundable deposits 90,930 – – – – 90,930Trade and other receivables 36,164 2,167 9 – 15,626 53,966Amount owing byrelated parties 4,189 758 451 – 31,216 36,614
Fixed deposits withlicensed banks – 2,478 – – 48,710 51,188
Cash and bank balances 13,845 1,278 650 9 2,511 18,293
145,128 6,681 1,110 9 98,063 250,991
Financial liabilitiesDerivative liability – – – – 3,070 3,070Payables 27,239 9,001 944 1,916 27,632 66,732Amount owing to related parties 1 – – – 32 33Borrowings – 61 – – 244,835 244,896
27,240 9,062 944 1,916 275,569 314,731
Net financial assets/ (liabilities) 117,888 (2,381) 166 (1,907) (177,506) (63,740)Less: Net financial(assets)/ liabilitiesdenominated in the respectiveentities functional currencies 95,478 2,846 166 – (177,114) (78,624)
Currency exposure 22,410 (5,227) – (1,907) (392) 14,884
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
146 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
United States Singapore Australian RinggitDollar Dollar Dollar Others Malaysia Total
The Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2009
Financial assetsRefundable deposits 98,221 – – – – 98,221Trade and other receivables 45,776 4,504 79 – 12,507 62,866Amount owing by
related parties 6,438 779 616 – 30,361 38,194Amount owing by an associate – – – – 51,649 51,649Fixed deposits with
licensed banks – 1,455 – – 156,982 158,437Cash and bank balances 17,857 780 1,145 10 1,496 21,288
168,292 7,518 1,840 10 252,995 430,655
Financial liabilitiesPayables 84,376 10,560 1,069 537 28,755 125,297Amount owing to related parties 1 – – – 235 236Amount owing to an associate – – – – 1,975 1,975Borrowings – 82 – – 445,000 445,082
84,377 10,642 1,069 537 475,965 572,590
Net financial assets/ (liabilities) 83,915 (3,124) 771 (527) (222,970) (141,935)Less: Net financial
(assets)/ liabilitiesdenominated in the respectiveentities functional currencies 46,586 2,781 771 – (205,782) (155,644)
Currency exposure 37,329 (5,905) – (527) (17,188) 13,709
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 147
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
United States RinggitDollar Malaysia Total
The Company RM’000 RM’000 RM’000
2010
Financial assetsReceivables – 1,416 1,416Amount owing by subsidiaries – 271 271Amount owing by related parties – 259 259Fixed deposits with licensed banks – 47,360 47,360Cash and bank balances 1,585 1,433 3,018
1,585 50,739 52,324
Financial liabilitiesPayables – 8,787 8,787Amount owing to subsidiaries – 123,839 123,839Amount owing to related parties – 32 32Borrowings – 200,186 200,186
– 332,844 332,844
Net financial assets/ (liabilities) 1,585 (282,105) (280,520)Less: Net financial (assets)/
liabilities denominated in theentity’s functional currency – (282,105) (282,105)
Currency exposure 1,585 – 1,585
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
148 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
United States RinggitDollar Malaysia Total
The Company RM’000 RM’000 RM’000
2009
Financial assetsReceivables – 217 217Amount owing by subsidiaries – 27 27Amount owing by related parties – 259 259Amount owing by an associate – 51,649 51,649Fixed deposits with licensed banks – 152,392 152,392Cash and bank balances 6,947 1,323 8,270
6,947 205,867 212,814
Financial liabilitiesPayables – 9,005 9,005Amount owing to subsidiaries – 95,862 95,862Amount owing to related parties – 3 3Amount owing to an associate – 1,975 1,975Borrowings – 445,000 445,000
– 551,845 551,845
Net financial assets/ (liabilities) 6,947 (345,978) (339,031)Less: Net financial (assets)/
liabilities denominated in theentity’s functional currency – (345,978) (345,978)
Currency exposure 6,947 – 6,947
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 149
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
Foreign currency risk sensitivity analysis
The following table details the sensitivity analysis to a reasonably possible change in the foreign currencies as at theend of the reporting period, with all other variables held constant:
The Group The Company2010 2010
Increase/ Increase/(Decrease) (Decrease)RM’000 RM’000
Effects on profit after taxation
United States Dollar:– strengthened by 10% 2,241 159– weakened by 10% (2,241) (159)
Singapore Dollar:– strengthened by 10% (523) –– weakened by 10% 523 –
Effects on equity
There is no material impact to the Group’s equity.
(ii) Interest Rate Risk
The Group’s exposure to interest rate risk arises mainly from its short-term deposits with licensed banks and theinterest-bearing borrowings. On occasion, the Group enters into a variety of derivative financial instruments tomanage its exposure to the interest rate risk.
Surplus funds are placed with licensed financial institutions at the most favourable interest rates.
Interest rate risk sensitivity analysis
The following table details the sensitivity analysis to a reasonably possible change in the interest rates of the floatingrate borrowings as at the end of the reporting period, with all other variables held constant:
The Group The Company2010 2010
Increase/ Increase/(Decrease) (Decrease)RM’000 RM’000
Effects on profit after taxation
Increase of 50 basis points (“bp”) (165) –Decrease of 50 bp 165 –
Effects on equity
There is no material impact to the Group’s equity.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
150 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(iii) Equity Price Risk
The Group’s principal exposure to equity price risk arises mainly from changes in quoted securities prices. Equity pricerisk is monitored closely and managed to an acceptable level.
As the Group’s quoted investment is accounted for under the cost method, the sensitivity analysis is not presented.
(ii) Credit Risk
The Group’s exposure to credit risk, or the risk of counterparties defaulting, arises mainly from receivables (includingtrade receivables, other receivables and related parties). The Group manages its exposure to credit risk by the applicationof credit approvals, credit limits and monitoring procedures on an ongoing basis.
The Group establishes an allowance for impairment that represents its estimate of incurred losses in respect of thereceivables as appropriate. The main components of this allowance are a specific loss component that relates toindividually significant exposures, and a collective loss component established for groups of similar assets in respect oflosses that have been incurred but not yet identified. Impairment is estimated by management based on prior experienceand the current economic environment.
Credit risk concentration profile
The Group’s concentration of credit risk relates to the amounts owing by four (4) customers which constituted approximately81% of its net trade receivables at the end of the reporting period.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 151
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(ii) Credit Risk (Cont’d)
Exposure to credit risk
As the Group does not hold any collateral, the maximum exposure to credit risk is represented by the carrying amountof the financial assets as at the end of the reporting period.
Ageing analysis
The ageing analysis of the Group’s trade receivables as at 31 December 2010 is as follows:
Gross Individual Collective CarryingAmount Impairment Impairment Value
The Group RM’000 RM’000 RM’000 RM’000
2010
Not past due 27,113 – – 27,113
Past due:– less than 3 months 11,193 – – 11,193– 3 to 6 months 4,839 – – 4,839– over 6 months 3,171 (297) – 2,874
46,316 (297) – 46,019
Trade receivables that are past due but not impaired
The Group believes that no impairment allowance is necessary in respect of these receivables. They are substantiallycompanies with good collection track record and no recent history of default.
Trade receivables that are neither past due nor impaired
A significant portion of trade receivables that are neither past due nor impaired are regular customers that have beentransacting with the Group. The Groups uses ageing analysis to monitor the credit quality of the trade receivables.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
152 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(ii) Credit Risk (Cont’d)
Ageing analysis (Cont’d)
The ageing analysis of the Group’s other trade balances (amount owing by related parties) as at 31 December 2010 isas follow:
Gross Individual Collective CarryingAmount Impairment Impairment Value
The Group RM’000 RM’000 RM’000 RM’000
2010
Not past due 15,078 – – 15,078
Past due:– less than 3 months 9,515 – – 9,515– 3 to 6 months 5,037 (1,899) – 3,138– over 6 months 1,168 – – 1,168
30,798 (1,899) – 28,899
Trade receivables that are past due but not impaired
The Group believes that no impairment allowance is necessary as they are mainly related parties.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 153
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(iii) Liquidity Risk
The Group's exposure to liquidity risk arises mainly from general funding and business activities.
The Group practises prudent liquidity risk management by maintaining sufficient cash balances and funding throughadequate amounts of committed credit facilities/ credit lines for working capital requirements.
The following table sets out the maturity profile of the financial liabilities as at the end of the reporting period based oncontractual undiscounted cash flows (including interest payments computed using contractual rates or, if floating, basedon the rates at the end of the reporting period):
Contractual < ------------- Maturity ------------- >Carrying Undiscounted Within 1 – 5 OverAmount Cash Flows 1 Year Years 5 Years
The Group RM’000 RM’000 RM’000 RM’000 RM’000
2010
Payables 66,732 66,732 66,472 260 –Amount owing to
related parties 33 33 33 – –Hire purchase payables 424 493 98 357 38Term loans 244,472 261,947 109,194 152,753 –
311,661 329,205 175,797 153,370 38
2009
Payables 125,297 125,297 125,056 241 –Amount owing to
related parties 236 236 236 – –Amount owing to
an associate 1,975 1,975 1,975 – –Hire purchase payables 82 95 22 73 –Term loans 445,000 478,423 262,884 215,539 –
572,590 606,026 390,173 215,853 –
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
154 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(iii) Liquidity Risk (Cont’d)
Contractual < ------------- Maturity -------------->Carrying Undiscounted Within 1 – 5 OverAmount Cash Flows 1 Year Years 5 Years
The Company RM’000 RM’000 RM’000 RM’000 RM’000
2010
Payables 8,787 8,787 8,573 214 –Amount owing to
subsidiaries 123,839 123,839 123,839 – –Amount owing to
related parties 32 32 32 – –Hire purchase payables 363 422 77 307 38Term loans 199,823 215,539 105,188 110,351 –
332,844 348,619 237,709 110,872 38
2009
Payables 9,005 9,005 8,804 201 –Amount owing to
subsidiaries 95,862 95,862 95,862 – –Amount owing to an
associate 1,975 1,975 1,975 – –Amount owing to
related parties 3 3 3 – –Term loans 445,000 478,423 262,884 215,539 –
551,845 585,268 369,528 215,740 –
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 155
45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(iii) Liquidity Risk (Cont’d)
Cash Flow Hedge
The Group enters into a USD-MYR cross-currency interest rate swap to hedge the cash flow and the interest rate risks ofits foreign currency floating rate term loan as disclosed in Note 24(d) to the financial statements. The cross-currencyinterest rate swap has the same nominal value of the term loan of USD14,480,000 (equivalent to RM46,408,400) andis settled quarterly, consistent with the repayment schedule of the said term loan.
The cross-currency interest rate swap has been designated as a cash flow hedge and was assessed to behighly effective.
(b) Capital Risk Management
The Group manages its capital to ensure that entities within the Group will be able to maintain an optimal capital structure soas to support their businesses and maximise shareholder(s) value. To achieve this objective, the Group may make adjustmentsto the capital structure in view of changes in economic conditions, such as adjusting the amount of dividend payment, returningof capital to shareholders or issuing new shares.
The Group manages its capital based on debt-to-equity ratio. The Group’s strategies were unchanged from the previous financialyear. The debt-to-equity ratio is calculated as net debt divided by total equity. Net debt is calculated as borrowings plus tradeand other payables less cash and cash equivalents.
The debt-to-equity ratio of the Group as at the end of the reporting period was as follows:
The Group2010 2009RM RM
Net debt 242,180 392,865
Total equity 504,252 564,249
Debt-to-equity ratio 0.48 0.70
The Group did not breach any gearing requirement during the financial years ended 31 December 2009 and 31 December 2010.
Under the requirement of Bursa Malaysia Practice Note No. 17/ 2005, the Company is required to maintain a consolidatedshareholders’ equity (total equity attributable to owners of the Company) equal to or not less than the 25% of the issued andpaid-up share capital (excluding treasury shares) and such shareholders’ equity is not less than RM40 million. The Companyhas complied with this requirement.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
156 Petra Perdana Berhad
45. FINANCIAL INSTRUMENTS (CONT’D)
(c) Classification Of Financial Instruments
The TheGroup Company2010 2010RM’000 RM’000
Financial assets
Loans and receivables financial assetsRefundable deposits 90,930 –Receivables 53,966 1,416Amount owing by subsidiaries – 271Amount owing by related parties 36,614 259Fixed deposits with licensed banks 51,188 47,360Cash and bank balances 18,293 3,018
250,991 52,324
Financial liabilities
Fair value through profit or lossDerivative liability 3,070 –
Other financial liabilitiesPayables 66,732 8,787Amount owing to subsidiaries – 123,839Amount owing to related parties 33 32Borrowings 244,896 200,186
314,731 332,844
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 157
45. FINANCIAL INSTRUMENTS (CONT’D)
(d) Fair Values Of Financial Instruments
The carrying amounts of the financial assets and financial liabilities reported in the financial statements approximated their fairvalues except for the following:
2010 2009Carrying Fair Carrying FairAmount Value Amount ValueRM RM RM RM
The Group
Refundable deposits 90,930 90,222 98,221 65,681Borrowings 244,472 223,940 445,000 419,739
The Company
Borrowings 199,823 185,993 445,000 419,739
The following summarises the methods used to determine the fair values of the financial instruments:
(i) The financial assets and financial liabilities maturing within the next twelve (12) months approximated their fair values dueto the relatively short-term maturity of the financial instruments.
(ii) The fair value of the refundable deposits and borrowings is determined by the discounting the relevant cash flows usingcurrent interest rates for similar instruments as at the end of the reporting period.
(iii) The fair value of the derivative instrument is based on broker quotes.
The interest rates used to discount estimated cash flows, where applicable, are as follows:
Group Company2010 2009 2010 2009% % % %
Refundable deposits 5.03 4.46 – –Borrowings 6.15 5.55 6.30 5.55
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
158 Petra Perdana Berhad
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
The details of the significant events during the financial year are as follows:
(i) On 23 December 2009, the Company received an Interim Ex-Parte Order by the Kuala Lumpur High Court (“High Court”)(Commercial Division) vide Suit No. 22NCC 735-2009 (“Derivative Suit”), fixing an inter parties hearing on 11 January 2010to restrain the Company, Y.M. Tengku Dato’ Ibrahim Petra Bin Tengku Indra Petra (“TIP”) and other three (3) directors of theCompany (collectively referred to as “Former Directors”) and TA Securities Holdings Berhad (“TA Securities”) from divesting theremaining 29.59% shares held by the Company in Petra Energy Berhad (“PEB”) until Encik Shamsul Bin Saad (“Encik Shamsul”)requisitions for an Extraordinary General Meeting of the Company’s shareholders and/or until the final disposal of theDerivative Suit whenever is earlier.
The Derivative Suit was a derivative action taken by Encik Shamsul in Encik Shamsul’s capacity as a minority shareholder ofthe Company, for the benefit of the Company. The allegations in the Derivative Suit were, inter alia, breach of fiduciary duties,duty of care in common law and equity as well as statutory duties by the abovenamed Former Directors. Any damagesrecovered would go solely to the Company and none to Encik Shamsul.
The High Court Judge on 16 August 2010 allowed an application by the Former Directors against Encik Shamsul with costson the grounds, inter alia, that the Derivative Suit is no longer sustainable given the change in circumstances, namely on theissue of control of the Company.
(ii) On 6 January 2010, the Company received a special notice for the removal of TIP, Datin Nariza Hajjar Hashim, Wong FookHeng and Tiong Young Kong as directors of the Company, together with the calling of an Extraordinary General Meetingpursuant to Section 145 of the Companies Act 1965 cum notice of candidates namely, Dato’ Kho Poh Eng, Koh Pho Wat, SuryaHidayat Bin Abdul Malik and Ganesan A/L Sundaraj, as directors pursuant to Article 102(a) of the Company's Articles ofAssociation (the “EGM”), from some shareholders of the Company.
On 4 February 2010, the EGM was convened and ordinary resolutions tabled as resolution 1 to resolution 8 were approvedresulting in the removal of TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng and Tiong Young Kong as directors of theCompany and the appointment of Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat Bin Abdul Malik and Ganesan A/LSundaraj, as directors.
(iii) On 2 February 2010, Intra Oil Services Berhad (“IOS”) took legal action against Encik Shamsul and Asia Marine Pte. Ltd.(“AMPL”) in the Kuala Lumpur High Court via Suit No. D-27NCC-2-2010 (“Suit”) in relation to the entry of the Broker’s(Commission) Agreement dated 9 March 2009 (“BCA”). In the suit, IOS contended, amongst others, that Encik Shamsul hadbreached his fiduciary duties and/or obligations owed to IOS as payments were made to AMPL prior to the BCA being signed.
On 23 February 2010, the Board of Directors of IOS, save for Encik Shamsul who had abstained from deliberation and votingon the matter, reviewed the legal suit and found the legal suit to be completely baseless. IOS has subsequently withdrawn thelegal suit. A ‘Notis Pemberhentian’ was filed with the Kuala Lumpur High Court on the same day.
(iv) On 9 February 2010, the Company announced that the disposal of Petra Endeavour to Petra Innotech Sdn. Bhd. was completedon 27 January 2010.
(v) On 12 February 2010, the Company prepaid Tranche 3 and Tranche 4 of Facility B and partial of Tranche 2 of Facility B(RM150 million syndicated transferable term loan) amounting to RM108 million.
(vi) On 18 March 2010, IOS accepted a Commodity Murabahah Term Financing-i facility of USD14.48 million to finance theacquisition of one (1) unit workboat namely, Petra Sovereign for a period of five (5) years.
(vii) On 19 March 2010, the Company requested its associate, PEB to repay the entire amount outstanding immediately.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 159
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D)
(viii) On 31 March 2010, Perdana Mercury Limited (“PML”) took delivery of an anchor handling tug and supply vessel (“AHTS”),namely Petra Admiral and entered into a Bareboat Charter with Mount Tahan LLC to leaseback the said vessel for a period of120 months.
(ix) The acquisition of Petra Sovereign was completed upon delivery of the vessel to IOS as the nominee for Perdana Venus Limited(“PVL”) on 3 May 2010.
(x) On 20 May 2010, PVL entered into Memoranda of Agreement (“MOA”) with Mount Bintang LLC to dispose of its Petra Libertyand Petra Excelsior for a consideration of USD18 million and USD25 million respectively.
Upon the disposals, PML entered into a Bareboat Charter with Mount Bintang LLC to leaseback the said vessels for a period ofsixty (60) months commencing from the respective dates of delivery of the two (2) vessels with an option to purchase therespective vessels at the end of the charter period upon the terms and conditions as stipulated in the Option Agreement enteredinto between PML and Mount Bintang LLC.
(xi) On 21 May 2010, IOS filed an action in the High Court vide a Writ Summons (Suit No. D-22NCC-1005-2010) (“IOS Suit”)against the former directors of IOS, namely TIP, Tiong Young Kong and Wong Fook Heng for breach of fiduciary duties and/orcommon law duties owed to IOS.
On 20 December 2010, IOS decided to discontinue the IOS Suit with no order as to costs and without liberty to file afresh.
(xii) On 26 May 2010, the Company announced that the Company has, together with Encik Shamsul, as beneficial shareholdersof PEB, given a special notice to PEB of their joint intention to propose resolutions to remove TIP, Lee Mee Jiong, Suhaimi BadrulJamil as directors of PEB and to appoint Koh Pho Wat and Surya Hidayat Bin Abdul Malik as directors of PEB. A circular toshareholders of PEB dated 31 May 2010 was dispatched to convene an extraordinary general meeting on 24 June 2010(“PEB EGM”).
On 17 June 2010, Encik Suhaimi Badrul Jamil resigned as a director of PEB and on 18 June 2010, TIP and Lee Mee Jiongresigned as directors of PEB.
On 24 June 2010, the Company together with Encik Shamsul, withdrew the proposed resolutions on the appointment of MessrsKoh Pho Wat and Encik Surya Hidayat Bin Abdul Malik at the PEB EGM as the Company had received a letter from PEB dated22 June 2010 inviting the Company to nominate representative(s) to the PEB's board of directors.
On 13 July 2010, Surya Hidayat Bin Abdul Malik was appointed to the board of directors of PEB as a non-independent andnon-executive director.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
160 Petra Perdana Berhad
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D)
(xiii) On 22 June 2010, the Company announced that it had received letters from certain shareholders of the Company, namely ChowLean Keat, Datin Che Nariza Hajjar Hashim, Ramilah Joannah Sulaiman and Nik Ismail Bin Tengku Besar Indra Rajanominating their respective candidates, John Pang Yun Nian, Dato’ Syed Norulzaman Bin Syed Kamarulzaman, Suhaimi BinBadrul Jamil and Dato’ Shaik Sulaiman Bin S. Mohamed Ismail for election to the office of director of the Company.
On 24 June 2010, the Company was served by the solicitors of Datin Che Nariza Hajjar Hashim and the solicitor of Nik IsmailBin Tengku Besar Indra Raja and Ramilah Joannah Sulaiman, sealed copies of the Summons in Chambers dated 23 June 2010and Originating Summons dated 23 June 2010 together with copies of the Affidavit in Support in relation to the adjournmentof the forthcoming Annual General Meeting (“AGM”) of the Company to be held on 28 June 2010 to such date after thedisposal of the Originating Summons.
On 28 June 2010, the Company announced that the High Court has granted an order for the 14th AGM to proceed with theresolutions number 1, 2, 7, 8, 9 and 10 whereas the tabling and voting for the resolutions number 3, 4, 5, and 6 as detailedin the notice of additional resolution dated 21 June 2010 would be done at the adjourned AGM. The adjourned AGM washeld on 20 July 2010 at One World Hotel, Kuala Lumpur.
On 1 July 2010, the Company announced that on 30 June 2010, its solicitors had filed in the Notices of Appeal to the Courtof Appeal in respect of the decision of the High Court given on 28 June 2010 (the “Appeals”). On the same day, the Companyinformed that they received a letter dated 30 June 2010 from John Pang Yun Nian, withdrawing his consent to the nominationby a shareholder, Chow Lean Keat, nominating him for the election as director of the Company.
On 15 July 2010, the Company further announced that they had received three (3) letters, all dated 14 July 2010 respectively,from Ramilah Joannah Sulaiman, Datin Che Nariza Hajjar Hashim and Nik Ismail Bin Tengku Besar Indra Raja withdrawingtheir nomination of Suhaimi Bin Badrul Jamil, Dato’ Syed Norulzaman Bin Syed Kamarulzaman and Dato’ Shaik Sulaiman BinS. Mohamed Ismail as directors of the Company. In addition, these nominees have also withdrawn their respective notice ofcandidate as director of the Company dated 8 June 2010 on even date via the letter all dated 14 July 2010.
On 8 September 2010, the Company announced that the hearing of the Appeals was heard by the Court of Appeal on 7September 2010 and the Court of Appeal held that the Appeals have been rendered academic by reason of the withdrawalsof the respective nominations in question. The Court of Appeal dismissed both the Appeals with no orders as to costs andfurther ordered that the deposits of the Appeals be refunded to the Company. The merits of the substantive Appeals were notheard nor ventilated.
(xiv) On 2 July 2010, the Company announced the completion of a private placement of 29,760,000 new ordinary shares ofRM0.50 each in the Company following the listing of and quotation for the said new shares on the Main Market of BursaMalaysia Securities Berhad (“Bursa Securities”) which were issued and allotted on 30 June 2010 at an issue price of RM1.32per share.
(xv) On 11 August 2010, PVL gave a notice of cancellation of the MOA in respect of the SK 202 Vessel to Nam Cheong DockyardSdn. Bhd. (“NCD”) and NCD has agreed to refund fully all the deposit paid earlier of USD8.85 million.
As a result of the cancellation, part of the proceeds from the private placement amounting to RM19.78 million which waspreviously intended to be utilised towards the payments of SK 202 Vessel has been earmarked for working capital purposes.
(xvi) On 1 November 2010, the Company announced the completion of a renounceable rights issue of 122,760,000 new ordinaryshares of RM0.50 each in the Company following the listing of and quotation for the said new shares on Main Market of BursaSecurities which was issued and allotted on 27 October 2010 at an issue price of RM0.59 per share.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 161
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D)
(xvii) On 19 November 2010, Perdana Nautika Sdn. Bhd. (“PNSB”) was incorporated with an issued and paid-up capital of RM2.00each divided into 2 ordinary shares of RM1.00. The main activity of PNSB was to provide offshore marine support servicesfor the upstream oil and gas industry in the domestic market.
On 28 December 2010, the Company announced that it has further subscribed for an additional 54,998 new ordinary sharesof RM1.00 each at par in the share capital of PNSB representing 55% of the enlarged share capital of PNSB. The balance ofthe 45% equity stake of the enlarged share capital of PNSB has been subscribed for by Kelana Teroka Sdn. Bhd., a 100%bumiputra Malaysian incorporated company with experience in offshore marine support services. Amongst others, PNSB in itsstructure is to undertake the Petronas Licence requirements for domestic offshore marine support services.
47. SIGNIFICANT EVENT OCCURRING AFTER THE REPORTING PERIOD
Ampangship Marine Sdn. Bhd. (“AMS”) entered into a MOA dated 23 March 2011 to dispose of its accommodation workbargenamely, Emerald to PT PANN (Persero), a company incorporated in Indonesia for a total cash consideration of USD8.2 million. Thedisposal was completed upon delivery of the accommodation workbarge to PT PANN (Persero) on 8 April 2011.
48. COMPARATIVE FIGURES
The following comparative figures have been reclassified to conform with the presentation of the current financial year:
The Group The CompanyAs As
As Previously As PreviouslyRestated Reported Restated ReportedRM’000 RM’000 RM’000 RM’000
Statement of FinancialPosition (Extract):
Non-Current AssetsAmount owing by subsidiaries – – 353,576 329,715Refundable deposits 98,221 75,106 – –
Current AssetsReceivables 97,827 120,942 15,104 38,965
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
162 Petra Perdana Berhad
49. SUPPLEMENTARY INFORMATION - DISCLOSURE OF REALISED AND UNREALISED PROFITS
On 25 March 2010, Bursa Securities issued a directive to all listed issuers pursuant to Paragraph 2.06 and 2.23 of the BursaSecurities Main Market Listing Requirements. The directive requires all listed issuers to disclose the breakdown of the unappropriatedprofits or accumulated losses as at the end of the reporting period, into realised and unrealised profits or losses.
On 20 December 2010, Bursa Securities further issued guidance on the disclosure and the format required.
The breakdown of the retained profits of the Group and the Company as at 31 December 2010, into realised and unrealised profits,pursuant to the directive, is as follows:
The Group The Company2010 2010RM’000 RM’000
Total retained profits– realised 189,677 138,071– unrealised (29,406) 45
160,271 138,116Total share of retained profits from associate:– realised 60,508 –– unrealised (7,935) –
212,844 138,116Less: Consolidation adjustments 27,954 –
At 31 December 240,798 138,116
The determination of realised and unrealised profits is compiled based on Guidance of Special Matter No. 1, Determination ofRealised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Securities Listing Requirements, issued bythe Malaysian Institute of Accountants on 20 December 2010.
The disclosure of realised and unrealised profits above is solely for complying with the disclosure requirements stipulated in thedirective of Bursa Securities and should not be applied for any other purposes.
Notes to the Financial Statements (cont’d)For the Financial Year Ended 31 December 2010
2010annual report 163
Laporan Para Pengarah 165
Kenyataan oleh Para Pengarah 171
Perakuan Berkanun 171
Laporan Juruaudit Bebas 172
Penyata Kedudukan Kewangan 174
Penyata Pendapatan Komprehensif 176
Penyata Perubahan Ekuiti 177
Penyata Aliran Tunai 179
Nota-Nota kepadaPenyata Kewangan 182
penyata kewangan
Para pengarah dengan ini membentangkan laporan mereka dan penyata kewangan teraudit Kumpulan dan Syarikat bagi tahunkewangan berakhir 31 Disember 2010.
KEGIATAN UTAMA
Syarikat pada dasarnya merupakan sebuah syarikat pemegangan pelaburan dan juga terlibat dalam penyediaan perkhidmatanpentadbiran dan pengurusan kepada anak-anak syarikatnya. Kegiatan utama anak-anak syarikat dinyatakan dalam Nota 5 kepadapenyata kewangan. Tidak ada perubahan ketara dalam sifat kegiatan ini dalam tahun kewangan.
KEPUTUSAN-KEPUTUSAN
Kumpulan SyarikatRM'000 RM'000
Kerugian selepas cukai boleh dikaitkan kepada pemilik-pemilik Syarikat (72,002) (16,995)
DIVIDEN
Sejak akhir tahun kewangan yang lepas, Syarikat membayar dividen pertama dan akhir sebanyak 2.0 sen setiap saham biasa bernilaiRM0.50 sesaham, tolak cukai pada 25% ke atas 297,600,000 saham biasa berjumlah RM4,464,000 berhubung dengan tahunkewangan berakhir 31 Disember 2009.
Para pengarah tidak mengesyorkan bayaran sebarang dividen berhubung dengan tahun kewangan berakhir 31 Disember 2010.
RIZAB DAN PERUNTUKAN
Semua pemindahan material kepada atau daripada rizab atau peruntukan dalam tahun kewangan dinyatakan dalampenyata kewangan.
Laporan Pengarah
laporan tahunan2010 165
TERBITAN SAHAM DAN DEBENTUR
Dalam tahun kewangan,
(a) tidak ada perubahan dalam modal saham Syarikat yang dibenarkan; dan
(b) Syarikat menambah modal sahamnya yang diterbitkan dan berbayar daripada RM148,800,000 kepada RM225,060,000 melalui:
(i) penerbitan sebanyak 29,760,000 saham biasa baru bernilai RM0.50 sesaham untuk tunai bagi tujuan bayaran deposit carterdan kegunaan modal kerja selaras dengan penempatan persendirian Syarikat pada harga langganan sebanyak RM1.32-setiap saham pada 30 Jun 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama BursaMalaysia Securities Berhad (“Bursa Securities”) pada 2 Julai 2010; dan
(ii) penerbitan sebanyak 122,760,000 saham biasa baru bernilai RM0.50 sesaham untuk tunai bagi tujuan bayaran balikpinjaman dan kegunaan modal kerja selaras dengan terbitan hak boleh lepas Syarikat dengan waran boleh lepas percuma(“Terbitan Hak”) berasaskan tiga (3) saham hak (“Saham-saham Hak”) bagi setiap lapan (8) saham biasa sedia ada bernilaiRM0.50 sesaham dipegang dalam Syarikat bersama dengan 61,379,785 waran boleh lepas percuma (“Waran”)berasaskan satu (1) Waran bagi setiap dua (2) Saham Hak dilanggan pada harga terbitan RM0.59 setiap Saham Hak pada27 Oktober 2010. Saham-saham baru ini telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securitiespada 1 November 2010.
Saham-saham biasa baru yang diterbitkan dalam tahun kewangan bertaraf pari passu dalam semua hubungan dengansaham-saham biasa sedia ada Syarikat; dan
(c) tidak ada terbitan debentur oleh Syarikat.
OPSYEN DIBERIKAN KE ATAS SAHAM TIDAK DITERBITKAN
Dalam tahun kewangan, tiada opsyen telah diberikan oleh Syarikat kepada mana-mana orang untuk mengambil mana-mana sahamtidak diterbitkan dalam Syarikat kecuali bagi penerbitan Waran selaras dengan Terbitan Hak di atas.
Laporan Pengarah (samb)
166 Petra Perdana Berhad
WARAN 2010/2015
Pada 27 Oktober 2010, Syarikat telah menerbitkan 61,379,785 Waran percuma selaras dengan Terbitan Hak. Waran dibentuk melaluiSurat Ikatan Pol bertarikh 15 September 2010 (“Surat Ikatan Pol”).
Terma-terma penting Waran 2010/2015 adalah seperti berikut:
(a) Setiap Waran memberhakkan pemegang berdaftar untuk melanggan bagi satu (1) saham biasa baru bernilai RM0.50 sesahamdalam Syarikat pada bila-bila masa pada atau sebelum tarikh matang, 26 Oktober 2015, terjatuh lima (5) tahun dari tarikh terbitanWaran. Waran tidak dilaksanakan selepas tempoh pelaksanaan akan selepas itu luput dan berhenti untuk menjadi sah;
(b) Harga pelaksanaan Waran ditetapkan pada RM1.00 setiap Waran;
(c) Saham-saham biasa baru yang akan diterbitkan selepas pelaksanaan Waran akan bertaraf pari passu dalam semua hubungandengan saham-saham biasa sedia ada Syarikat; dan
(d) Waran telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities pada 1 November 2010.
Pergerakan Waran dalam tahun kewangan adalah seperti berikut:
Keberhakan Bagi Saham Biasa Bernilai RM0.50 SesahamDiterbitkan
Pada Pada27.10.2010 Dilaksanakan Dibatalkan 31.12.2010
Bilangan Waran tidak dilaksanakan 61,379,785 – – 61,379,785
HUTANG LAPUK DAN RAGU
Sebelum penyata kewangan Kumpulan dan Syarikat dibuat, para pengarah mengambil langkah-langkah munasabah untuk memastikanbahawa tindakan telah diambil berhubung dengan penghapusan kira hutang lapuk dan membuat peruntukan bagi hutang ragu, danmereka berpuas hati bahawa tidak ada hutang lapuk diketahui dan bahawa peruntukan mencukupi telah dibuat bagi kerugian rosot nilaike atas penghutang.
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang mungkin memerlukan penghapusan kirahutang ragu, atau peruntukan tambahan bagi kerugian rosot nilai ke atas penghutang dalam penyata kewangan Kumpulan dan Syarikat.
ASET SEMASA
Sebelum penyata kewangan Kumpulan dan Syarikat dibuat, para pengarah telah mengambil langkah-langkah munasabah untukmemastikan bahawa sebarang aset semasa selain daripada hutang, yang tidak mungkin dapat direalisasikan dalam perjalanan biasaperniagaan, termasuk nilainya sebagaimana ditunjukkan dalam rekod-rekod perakaunan Kumpulan dan Syarikat, telah dikurangkan nilaikepada jumlah yang ia dijangka dapat direalisasikan.
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang mungkin menjadikan nilai boleh dikaitkankepada aset semasa dalam penyata kewangan mengelirukan.
Laporan Pengarah (samb)
laporan tahunan2010 167
KAEDAH PENILAIAN
Pada tarikh laporan ini, para pengarah tidak menyedari mengenai sebarang keadaan yang telah timbul yang membawa kepadapematuhan kepada kaedah penilaian sedia ada aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak munasabah.
LIABILITI LUAR JANGKAAN DAN LAIN-LAIN LIABILITI
Liabiliti luar jangkaan dinyatakan dalam Nota 41 kepada penyata kewangan. Pada tarikh laporan ini, tidak wujud:
(a) sebarang perubahan ke atas aset Kumpulan dan Syarikat yang timbul sejak akhir tahun kewangan yang menjamin liabiliti mana-mana orang lain; atau
(b) sebarang liabiliti luar jangkaan Kumpulan dan Syarikat yang timbul sejak akhir tahun kewangan.
Tiada liabiliti luar jangkaan atau lain-lain liabiliti Kumpulan dan Syarikat telah menjadi boleh dikuatkuasakan atau berkemungkinan akanmenjadi boleh dikuatkuasakan dalam tempoh dua belas (12) bulan selepas akhir tempoh kewangan yang, pada pendapat parapengarah, akan atau mungkin menjejaskan dengan ketara keupayaan Kumpulan dan Syarikat untuk memenuhi tanggungannya apabilatiba masanya.
PERUBAHAN KEADAAN
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang jika tidak diambil kira dalam laporan ini ataupenyata kewangan Kumpulan dan Syarikat yang akan menjadikan sebarang jumlah dinyatakan dalam penyata kewangan mengelirukan.
PERKARA-PERKARA BERSIFAT LUAR BIASA
Keputusan operasi Kumpulan dan Syarikat dalam tahun kewangan, pada pendapat para pengarah, tidak terjejas secara ketaranyaoleh mana-mana perkara, urus niaga atau peristiwa yang bersifat material dan luar biasa selain daripada kesan-kesan timbul daripadapenerimaan pakai FRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran yang telah meningkatkan kerugian bersih Kumpulandan Syarikat masing-masing sebanyak RM5,915,728 dan RM192,549.
Tidak timbul dalam selang masa antara akhir tahun kewangan dan tarikh laporan ini mana-mana perkara, urus niaga atau peristiwayang bersifat material dan luar biasa, pada pendapat para pengarah, menjejaskan dengan ketara keputusan operasi Kumpulan danSyarikat bagi tahun kewangan.
SKIM OPSYEN SAHAM KAKITANGAN ("ESOS")
ESOS Kumpulan telah diluluskan oleh Suruhanjaya Sekuriti pada 16 Ogos 2001 dan akan berkuat kuasa untuk tempoh selama 10 tahunbermula dari 12 Mac 2002.
ESOS telah diluluskan oleh pemegang-pemegang saham pada Mesyuarat Agung Luar Biasa yang diadakan pada 31 Januari 2002.
Dalam tahun kewangan, tiada opsyen di bawah ESOS telah diberikan.
Laporan Pengarah (samb)
168 Petra Perdana Berhad
PARA PENGARAH
Para pengarah yang menyandang jawatan sejak tarikh laporan terakhir adalah seperti berikut:
Shamsul Bin SaadDato’ Kho Poh EngKoh Pho WatSurya Hidayat Bin Abdul MalikGanesan A/L SundarajIdris Bin ZaidelRaja Anuar Bin Raja Abu HassanHamdan Bin Rasid (Dilantik Pada 20.7.2010)
KEPENTINGAN PARA PENGARAH
Menurut daftar pemegangan saham para pengarah, kepentingan para pengarah yang memegang jawatan pada akhir tahun kewangandalam saham-saham dalam Syarikat dan syarikat-syarikat berkaitannya dalam tahun kewangan adalah seperti berikut:
Bilangan Saham Biasa Bernilai RM0.50 SesahamPada Pada
1.1.2010 Dibeli Dijual 31.12.2010Syarikat
Kepentingan LangsungShamsul Bin Saad 8,425,000 3,159,375 – 11,584,375Dato’ Kho Poh Eng 14,195,630 5,689,448 – 19,885,078Koh Pho Wat 15,649,330 6,868,401 – 22,517,731
Dianggap BerkepentinganShamsul Bin Saad – 9,625 – 9,625#
Dato’ Kho Poh Eng 71,067 28,933 – 100,000#
Koh Pho Wat 226,032 84,968 – 311,000#
Bilangan Waran 2010/2015Diterbitkan Pada Pada27.10.2010 Dibeli Dilaksanakan 31.12.2010
Kepentingan LangsungShamsul Bin Saad 1,579,687 – – 1,579,687Dato’ Kho Poh Eng 2,844,724 – – 2,844,724Koh Pho Wat 3,434,200 – – 3,434,200
Dianggap BerkepentinganShamsul Bin Saad 1,312 – – 1,312#
Dato’ Kho Poh Eng 14,466 – – 14,466#
Koh Pho Wat 42,484 – – 42,484#
# Dianggap berkepentingan selaras dengan Seksyen 134(12)(c) Akta Syarikat 1965.
Lain-lain pengarah yang memegang jawatan pada akhir tahun kewangan tidak mempunyai kepentingan dalam saham-saham dalamSyarikat dan syarikat-syarikat berkaitannya dalam tahun-tahun kewangan.
Laporan Pengarah (samb)
laporan tahunan2010 169
MANFAAT PENGARAH
Sejak akhir tahun kewangan yang lepas, tiada pengarah telah menerima atau layak untuk menerima sebarang manfaat (selain daripadamanfaat yang termasuk dalam agregat jumlah emolumen yang diterima atau terhutang dan boleh diterima oleh para pengarahsebagaimana ditunjukkan dalam penyata kewangan, atau gaji tetap kakitangan sepenuh masa Syarikat) atas alasan kontrak yangdibuat oleh Syarikat atau syarikat berkaitan dengan pengarah atau dengan firma yang mana pengarah merupakan seorang ahli, ataudengan syarikat dalam mana pengarah mempunyai kepentingan kewangan yang besar.
Sama ada dalam tahun kewangan mahupun pada akhir tahun kewangan, Kumpulan atau Syarikat tidak menjadi pihak kepada mana-mana pengaturan yang objeknya adalah untuk membolehkan para pengarah mendapat manfaat melalui cara pengambilalihan saham-saham dalam atau debentur Syarikat atau mana-mana badan korporat yang lain.
PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN
Peristiwa-peristiwa penting sepanjang tahun kewangan Kumpulan dan Syarikat dikemukakan dalam Nota 46 kepada penyata kewangan.
PERISTIWA-PERISTIWA PENTING BERLAKU SELEPAS TEMPOH PELAPORAN
Peristiwa-peristiwa penting berlaku selepas tempoh pelaporan Kumpulan dan Syarikat dikemukakan dalam Nota 47 kepadapenyata kewangan.
JURUAUDIT
Juruaudit, Tetuan. Crowe Horwath, telah menyatakan kesanggupan mereka untuk meneruskan tugas mereka.
Ditandatangani selaras dengan resolusi para pengarah bertarikh 28 April 2011.
Koh Pho Wat
Shamsul Bin Saad
Laporan Pengarah (samb)
170 Petra Perdana Berhad
Kami, Koh Pho Wat dan Shamsul Bin Saad, merupakan dua orang pengarah Petra Perdana Berhad, menyatakan bahawa, padapendapat para pengarah, penyata kewangan yang dikemukakan pada muka surat 174 hingga 255 disediakan selaras denganPiawaian Pelaporan Kewangan dan Akta Syarikat 1965 di Malaysia untuk memberikan gambaran sebenar dan saksama mengenaihal-ehwal Kumpulan dan Syarikat pada 31 Disember 2010 serta keputusan dan aliran tunainya bagi tahun kewangan berakhir padatarikh tersebut.
Maklumat tambahan dinyatakan dalam Nota 49 pada muka surat 256, yang bukan merupakan sebahagian daripada penyatakewangan, disediakan dalam semua hubungan material, selaras dengan Panduan mengenai Perkara Khas No. 1, Penentuan mengenaiKeuntungan atau Kerugian Direalis dan Tidak Direalis dalam Konteks Pendedahan Selaras Dengan Syarat–syarat Penyenaraian BursaMalaysia Securities Berhad, sebagaimana dikeluarkan oleh Institut Akauntan Malaysia dan arahan Bursa Malaysia Securities Berhad.
Ditandatangani selaras dengan resolusi para pengarah bertarikh 28 April 2011.
Koh Pho Wat Shamsul Bin Saad
Perakuan BerkanunSaya, Soon Fook Kian, sebagai pegawai yang secara utama bertanggungjawab bagi pengurusan kewangan Petra Perdana Berhad,dengan sesungguhnya dan seikhlasnya mengaku bahawa penyata kewangan yang disertakan pada muka surat 174 hingga 255, adalahsetakat pengetahuan dan kepercayaan terbaik saya betul, dan saya membuat perakuan ini dengan secara sedar mempercayai yang samasebagai benar dan selaras dengan peruntukan Akta Perakuan Berkanun, 1960.
Ditandatangani dan sesungguhnya diperakui oleh )Soon Fook Kian, di Kuala Lumpur di )Wilayah Persekutuan pada hari ini )28 April 2011 ) Soon Fook Kian
Di hadapan saya,
PESURUHJAYA SUMPAHKuala Lumpur
Kenyataan oleh Para Pengarah
laporan tahunan2010 171
Laporan mengenai Penyata Kewangan
Kami telah mengaudit penyata kewangan Petra Perdana Berhad, yang terdiri daripada penyata kedudukan kewangan pada 31 Disember2010 Kumpulan dan Syarikat, dan penyata pendapatan komprehensif, penyata perubahan dalam ekuiti dan penyata aliran tunaiKumpulan dan Syarikat bagi tahun kewangan berakhir pada ketika itu, dan ringkasan polisi-polisi perakaunan penting dan lain-lainmaklumat penjelasan, sebagaimana dikemukakan pada muka surat 174 hingga 255.
Tanggungjawab para Pengarah bagi Penyata Kewangan
Para pengarah Syarikat bertanggungjawab bagi penyediaan dan pembentangan saksama penyata kewangan ini selaras denganPiawaian Pelaporan Kewangan dan Akta Syarikat 1965 di Malaysia, dan bagi kawalan dalaman tertentu sebagaimana para pengarahtentukan sebagai perlu untuk membolehkan penyediaan penyata kewangan yang bebas daripada salahnyataan, sama ada disebabkanoleh fraud atau kesilapan.
Tanggungjawab Juruaudit
Tanggungjawab kami adalah untuk menyatakan pendapat mengenai penyata kewangan ini berdasarkan audit kami. Kami melaksanakanaudit kami selaras dengan piawaian-piawaian diluluskan mengenai pengauditan di Malaysia. Piawaian–piawaian ini memerlukan agarkami mematuhi syarat-syarat etika dan merancang dan melaksanakan audit untuk mendapatkan jaminan munasabah mengenai samaada penyata kewangan adalah bebas daripada salah nyataan material.
Sesuatu audit melibatkan prosedur-prosedur untuk mendapatkan bukti audit mengenai jumlah dan pendedahan dalam penyatakewangan. Prosedur-prosedur dipilih bergantung pada pertimbangan kami, termasuk penilaian risiko salah nyataan material mengenaipenyata kewangan, sama ada disebabkan oleh fraud atau kesilapan. Dalam membuat penilaian risiko tersebut, kami menimbangkankawalan dalaman yang relevan kepada penyediaan dan pembentangan saksama penyata kewangan Syarikat untuk mereka prosedur-prosedur audit yang sesuai dalam keadaan-keadaan, tetapi untuk tujuan menyatakan pendapat mengenai keberkesanan kawalandalaman Syarikat. Sesuatu audit juga termasuk menilai kesesuaian polisi-polisi perakaunan yang digunakan dan kemunasabahananggaran-anggaran perakaunan yang dibuat oleh para pengarah, serta juga menilai pembentangan keseluruhan penyata kewangan.Kami percaya bahawa bukti audit kami yang telah kami perolehi adalah mencukupi dan sesuai untuk menyediakan asas bagi pendapataudit kami.
Pendapat
Pada pendapat kami, penyata kewangan telah disediakan sewajarnya selaras dengan Piawaian pelaporan Kewangan dan Akta Syarikat1965 di Malaysia untuk memberi gambaran sebenar dan saksama mengenai kedudukan kewangan Kumpulan dan Syarikat pada 31Disember 2010 dan prestasi kewangan dan aliran tunai mereka bagi tahun kewangan berakhir pada ketika itu.
Laporan Juruaudit BebasKepada Ahli-ahli Petra Perdana Berhad
172 Petra Perdana Berhad
Laporan Mengenai Keperluan Undang-Undang Dan Berperaturan Lain
Selaras dengan keperluan Akta Syarikat 1965 di Malaysia, kami juga melaporkan yang berikut:
(a) Pada pendapat kami, rekod perakaunan dan lain-lain rekod dan daftar yang diperlukan oleh Akta untuk disimpan olehSyarikat dan anak-anak syarikatnya yang kami telah bertindak sebagai juruaudit telah disimpan sewajarnya selaras denganperuntukan Akta.
(b) Kami telah menimbangkan penyata kewangan dan laporan juruaudit mengenai semua anak syarikat yang mana kami tidakbertindak sebagai juruaudit, yang dinyatakan dalam Nota 5 kepada penyata kewangan.
(c) Kami berpuas hati bahawa penyata kewangan anak-anak syarikat yang telah disatukan dengan penyata kewangan Syarikatadalah dalam bentuk dan kandungan sesuai dan teratur untuk tujuan penyediaan penyata kewangan Kumpulan dan kami telahmenerima maklumat dan penjelasan yang memuaskan yang diperlukan oleh kami untuk tujuan tersebut.
(d) Laporan audit mengenai penyata kewangan anak-anak syarikat tidak mengandungi sebarang syarat atau sebarang ulasan kurangbaik yang dibuat di bawah Akta Seksyen 174(3).
Maklumat tambahan dikemukakan dalam Nota 49 pada muka surat 256 dinyatakan untuk memenuhi keperluan Bursa Malaysia SecuritiesBerhad dan bukan merupakan sebahagian daripada penyata kewangan. Para pengarah bertanggungjawab bagi penyediaan maklumattambahan selaras dengan Garis Panduan mengenai Perkara Khas No. 1, Penentuan Keuntungan atau Kerugian Direalisasikan danTidak Direalisasikan dalam Konteks Pendedahan Selaras Dengan Syarat-syarat Penyenaraian Bursa Malaysia Securities Berhad,sebagaimana dikeluarkan oleh Institut Akauntan Malaysia ("Garis Panduan MIA ") dan arahan Bursa Malaysia Securities Berhad. Padapendapat kami, maklumat tambahan disediakan, dalam semua hubungan material, selaras dengan Panduan MIA dan arahan BursaMalaysia Securities Berhad.
PERKARA-PERKARA LAIN
Laporan ini dibuat semata-mata kepada ahli-ahli Syarikat, sebagai sebuah badan, selaras dengan Seksyen 174 Akta Syarikat 1965 di Malaysiadan bukan untuk sebarang tujuan lain. Kami tidak bertanggungjawab kepada mana-mana orang lain bagi kandungan laporan ini.
Crowe Horwath Poon Yew HoeNo Firma : AF 1018 No Kelulusan : 956/04/12 (J)Akauntan Bertauliah Rakan Firma
28 April 2011
Kuala Lumpur
Laporan Juruaudit Bebas (samb)Kepada Ahli-ahli Petra Perdana Berhad
laporan tahunan2010 173
Kumpulan SyarikatDinyatakan Dinyatakan Dinyatakan DinyatakanSemula Semula Semula Semula
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
ASET
ASET BUKAN SEMASA
Pelaburan dalam anak-anak syarikat 5 – – – 307,461 307,406 346,012Pelaburan dalam syarikat bersekutu 6 88,420 90,319 – 19,233 19,233 –Hartanah, loji dan peralatan 7 400,934 460,698 659,068 6,521 8,537 43,041Bayaran pajakan prabayar – – 7,275 – – –Jumlah terhutang oleh anak-anak
syarikat 8 – – – 400,949 353,576 301,495Jumlah terhutang oleh syarikat
bersekutu – – – – – 51,649Deposit boleh dikembalikan 9 90,930 98,221 58,492 – – 21,999Aset tidak ketara 10 27,507 27,507 27,507 – – –Aset cukai tertunda 11 46 46 62 46 46 46
607,837 676,791 752,404 734,210 688,798 764,242
ASET SEMASA
Inventori 12 6,908 5,533 50,299 – – –Penghutang 13 99,293 97,827 304,061 1,740 15,104 10,636Jumlah terhutang oleh pelanggan
kontrak – – 6,471 – – –Jumlah terhutang oleh anak-anak
syarikat 8 – – – 271 27 8Jumlah terhutang oleh pihak
berkaitan 14 36,614 38,194 – 259 259 –Jumlah terhutang oleh syarikat
bersekutu 15 – 51,649 – – 51,649 10,000Cukai boleh didapati semula 3,758 5,057 7,145 3,102 3,900 4,482Deposit tetap dengan bank berlesen 16 51,188 158,437 337,423 47,360 152,392 215,236Tunai dan baki bank 18,293 21,288 33,348 3,018 8,270 781
216,054 377,985 738,747 55,750 231,601 241,143Aset bukan semasa dikelaskan
sebagai dipegang untuk jualan 17 – 86,361 4,501 – – –
JUMLAH ASET 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
Nota-nota mengiringi membentuk bahagian penting penyata kewangan ini.
Penyata Kedudukan KewanganPada 31 Disember 2010
174 Petra Perdana Berhad
Kumpulan SyarikatDinyatakan Dinyatakan Dinyatakan DinyatakanSemula Semula Semula Semula
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
EKUITI DAN LIABILITI
EKUITIModal saham 18 225,060 148,800 148,800 225,060 148,800 148,800Rizab 19 278,975 414,869 396,820 232,056 219,754 118,824
JUMLAH EKUITI BOLEH DIKAITKANKEPADA PEMILIK-PEMILIK SYARIKAT 504,035 563,669 545,620 457,116 368,554 267,624
KEPENTINGAN MINORITI 217 580 118,162 – – –
JUMLAH EKUITI 504,252 564,249 663,782 457,116 368,554 267,624
LIABILITI BUKAN SEMASA
Cukai tertunda 21 4,048 2,060 30,908 – – –Pinjaman jangka panjang 22 146,088 227,063 295,280 105,108 227,000 295,000Liabiliti derivatif 25 3,070 – – – – –Pemiutang 26 260 241 511 214 201 231
153,466 229,364 326,699 105,322 227,201 295,231
LIABILITI SEMASAPemiutang 26 66,472 125,056 127,811 8,573 8,804 15,336Jumlah terhutang kepada
anak-anak syarikat 8 – – – 123,839 95,862 64,194Jumlah terhutang kepada
pihak-pihak berkaitan 14 33 236 – 32 3 –Jumlah terhutang kepada syarikat
bersekutu 15 – 1,975 – – 1,975 –Jumlah terhutang kepada pelanggan
kontrak – – 9,625 – – –Pinjaman jangka pendek 27 98,808 218,019 366,023 95,078 218,000 363,000Peruntukan bagi cukai 860 2,238 1,712 – – –
166,173 347,524 505,171 227,522 324,644 442,530
JUMLAH LIABILITI 319,639 576,888 831,870 332,844 551,845 737,761
JUMLAH EKUTII DAN LIABILITI 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
ASET BERSIH SETIAP SAHAM BIASA (RM) 28 1.12 1.89
Nota-nota mengiringi membentuk bahagian penting penyata kewangan ini.
Penyata Kedudukan Kewangan (samb)Pada 31Disember 2010
laporan tahunan2010 175
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
HASIL 29 254,887 605,684 11,681 48,167
KOS JUALAN (280,800) (491,792) – –
(KERUGIAN)/ KEUNTUNGAN KASAR (25,913) 113,892 11,681 48,167
LAIN-LAIN PENDAPATAN 28,262 32,866 4,873 99,823
2,349 146,758 16,554 147,990
KOS PENJUALAN DAN PENGEDARAN (2,377) (4,373) – –
PERBELANJAAN PENTADBIRAN (27,379) (49,756) (12,039) (9,037)
LAIN-LAIN PERBELANJAAN (22,922) (10,485) (2,092) (425)
KOS KEWANGAN (22,955) (32,695) (19,426) (32,903)
BAHAGIAN KEPUTUSAN DALAMSYARIKAT BERSEKUTU 387 (748) – –
(KERUGIAN)/ KEUNTUNGANSEBELUM CUKAI 30 (72,897) 48,701 (17,003) 105,625
PERBELANJAAN CUKAI PENDAPATAN 31 491 (12,351) 8 (231)
(KERUGIAN)/ KEUNTUNGANSELEPAS CUKAI (72,406) 36,350 (16,995) 105,394
LAIN-LAIN PENDAPATAN KOMPREHENSIF– Terjemahan mata wang asing (56,594) (8,927) – –– Lindungan nilai aliran tunai (1,311) – – –
(57,905) (8,927) – –
JUMLAH (PERBELANJAAN)/ PENDAPATANKOMPREHENSIF BAGI TAHUN KEWANGAN (130,311) 27,423 (16,995) 105,394
(KERUGIAN)/ KEUNTUNGAN SELEPASCUKAI BOLEH DIKAITKAN KEPADA:Pemilik-pemilik Syarikat (72,002) 29,317 (16,995) 105,394
Kepentingan minoriti (404) 7,033 – –
(72,406) 36,350 (16,995) 105,394JUMLAH (PERBELANJAAN)/
PENDAPATAN KOMPREHENSIF BOLEHDIKAITKAN KEPADA:Pemilik-pemilik Syarikat (129,948) 20,116 (16,995) 105,394
Kepentingan minoriti (363) 7,307 – –
(130,311) 27,423 (16,995) 105,394(KERUGIAN)/ PEROLEHAN SETIAP SAHAM– asas (sen) 32 (21.5) 9.9– dicairkan (sen) 32 Tidak Tidak
berkenaan berkenaan
Nota-nota mengiringi membentuk bahagian penting penyata kewangan ini.
Penyata Pendapatan KomprehensifBagi Tahun Kewangan Berakhir 31 Disember 2010
176 Petra Perdana Berhad
<-----------------------------------Tidak Boleh Diagih-----------------------------------> Boleh DiagihRizab Boleh
Lindungan DikaitkanRizab Nilai Lain–Lain Kepada
Modal Premium Rizab Penebusan Rizab Aliran Rizab Keuntungan Pemilik Kepentingan JumlahSaham Saham Waran Modal Terjemahan Tunai Modal Tertahan Syarikat Minoriti Ekuiti
Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM'000 RM'000 RM'000KumpulanBaki pada 1 Januari 2009 148,800 60,377 – 2,127 6,860 – – 327,456 545,620 118,162 663,782Jumlah pendapatan komprehensif
bagi tahun kewangan – – – – (9,201) – – 29,317 20,116 7,307 27,423Pengkelasan semula kepada
keutungan atau kerugianatas pelupusan kapal – – – – 2,397 – – – 2,397 – 2,397
Pengambilalihan kepentingandalam anak syarikat – – – – – – – – – 562 562
Pelupusan kepentingan dalamanak syarikat 35 – – – – – – – – – (123,880) (123,880)
Terbitan saham oleh anak syarikatkepada kepentingan minoriti – – – – – – – – – 322 322
Dividen 33 – – – – – – – (4,464) (4,464) – (4,464)Dividen dibayar kepada kepentingan
minoriti oleh anak-anak syarikat – – – – – – – – – (1,893) (1,893)
Baki pada 31 Disember 2009 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
Baki pada 31 Disember 2009/1 Januari 2010– sebagaimana dilaporkan
sebelum ini 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249– kesan menerima pakai FRS 139 3(a)(iii) – – – – – – – (35,045) (35,045) – (35,045)
– sebagaimana dinyatakan semula 148,800 60,377 – 2,127 56 – – 317,264 528,624 580 529,204Jumlah perbelanjaan komprehensif
bagi tahun kewangan – – – – (56,635) (1,311) – (72,002) (129,948) (363) (130,311)Perubahan Akta SyarikatLabuan 1990 – – – (2,127) – – 2,127 – – – –Penerbitan saham biasa di
bawah penempatan persendirian 14,880 24,403 – – – – – – 39,283 – 39,283Penerbitan saham biasa di
bawah terbitan hak 61,380 – 11,048 – – – – – 72,428 – 72,428Perbelanjaan terbitan saham – (1,888) – – – – – – (1,888) – (1,888)Dividen 33 – – – – – – – (4,464) (4,464) – (4,464)
Baki pada 31 Disember 2010 225,060 82,892 11,048 – (56,579) (1,311) 2,127 240,798 504,035 217 504,252
Nota-nota mengiringi membentuk bahagian penting penyata kewangan ini.
Penyata Perubahan EkuitiBagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 177
Modal Premium Rizab KeuntunganSaham Saham Waran Tertahan Jumlah
Nota RM'000 RM'000 RM’000 RM'000 RM'000Syarikat
Baki pada 1 Januari 2009 148,800 60,377 – 58,447 267,624Jumlah pendapatan komprehensif
bagi tahun kewangan – – – 105,394 105,394Dividen 33 – – – (4,464) (4,464)
Baki pada 31 Disember 2009/1 Januari 2010
– sebagaimana dilaporkan sebelum ini 148,800 60,377 – 159,377 368,554– kesan menerima pakai FRS 139 3(a)(iii) – – – 198 198
– sebagaimana dinyatakan semula 148,800 60,377 – 159,575 368,752Jumlah perbelanjaan komprehensif
bagi tahun kewangan – – – (16,995) (16,995)Penerbitan saham biasa di bawah
penempatan persendirian 14,880 24,403 – – 39,283Penerbitan saham biasa di bawah
terbitan hak 61,380 – 11,048 – 72,428Perbelanjaan terbitan saham – (1,888) – – (1,888)Dividen 33 – – – (4,464) (4,464)
Baki pada 31 Disember 2010 225,060 82,892 11,048 138,116 457,116
Nota-nota mengiringi membentuk bahagian penting penyata kewangan
Penyata Perubahan Ekuiti (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
178 Petra Perdana Berhad
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
ALIRAN TUNAI (BAGI)/ DARIPADAKEGIATAN KENDALIAN
(Kerugian)/ Keuntungan sebelum cukai (72,897) 48,701 (17,003) 105,625
Pelarasan bagi:Peruntukan bagi kerugian rosot nilai
ke atas penghutang pihak berkaitan/anak-anak syarikat 5,020 – 5 –
Pelunasan bayaran pajakan prabayar – 118 – –Susut nilai hartanah, loji dan peralatan 36,227 48,956 445 425Kerugian rosot nilai ke atas
hartanah, loji dan peralatan 2,982 – – –Kerugian rosot nilai ke atas deposit
boleh dikembalikan 9,380 – – –Perbelanjaan faedah 21,651 25,770 18,667 29,727Inventori dihapus kira – 2 – –Peruntukan bagi caruman persaraan – 58 – 9Hartanah, loji dan peralatan dihapus kira 9 – – –Penambahan deposit boleh dikembalikan (3,657) – – –Dividen daripada anak-anak syarikat – – (10,946) (46,209)Dividen daripada syarikat bersekutu – – (577) –Keuntungan atas pemindahan
hartanah, loji dan peralatan – – – (554)Keuntungan atas pelupusan
kepentingan dalam anak syarikat – (12,677) – (86,351)(Keuntungan)/ Kerugian atas pelupusan
hartanah, loji dan peralatan (424) (3,165) 1,509 –Keuntungan atas pelupusan aset
bukan semasa dikelaskansebagai dipegang untuk jualan (5,855) (1,952) – –
Pendapatan faedah (3,669) (3,845) (4,523) (11,636)Keuntungan tidak direalis ke atas
pertukaran asing (9,464) (399) – –Penepian hutang (107) (866) – –Kemasukan kira semua kerugian
rosot nilai ke atas penghutang – (555) – (944)Bahagian keputusan dalam
syarikat bersekutu (387) 748 –(Kerugian)/ keuntungan kendalian
sebelum perubahan modal kerja (21,191) 100,894 (12,423) (9,908)
Peningkatan dalam inventori (1,524) (13,510) – –Peningkatan dalam jumlah
terhutang oleh pelanggan kontrak – (16,905) – –Pengurangan dalam jumlah
terhutang kepada pelanggan kontrak – (1,586) – –(Peningkatan)/ Pengurangan dalam
penghutang (6,056) (62,018) 13,365 (6,330)(Pengurangan)/ Peningkatan
dalam pemiutang (57,291) 91,627 (198) (6,571)Pengurangan/ (Peningkatan)
dalam jumlah terhutang olehpihak berkaitan 988 (29,887) – –
Nota-nota mengiringi membentuk bahagian penting penyata kewangan
Penyata Aliran TunaiBagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 179
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
TUNAI (BAGI)/DARIPADA OPERASI (85,074) 68,615 744 (22,809)
Faedah dibayar (21,651) (25,770) (18,667) (29,727)Cukai dibayar (2,210) (16,484) – (1,138)Pengembalian cukai 4,682 2,475 3,219 1,489
TUNAI BERSIH (BAGI)/DARIPADAKEGIATAN KENDALIAN (104,253) 28,836 (14,704) (52,185)
ALIRAN TUNAI DARIPADA/(BAGI)KEGIATAN PELABURAN
Pelaburan dalam anak-anak syarikat baru – – (55) *Pelaburan dalam syarikat bersekutu – (40) – –Pendahuluan (kepada)/
daripada anak-anak syarikat – – (47,621) 10,227(Pendahuluan kepada)/ Bayaran balik
daripada pihak berkaitan (4,661) 106,163 – (259)Pengambilalihan kepentingan
tambahan dalam anak syarikat – – – (394)Aliran keluar tunai bersih daripada
pengambilalihan anak-anak syarikat – (2,637) – –Aliran masuk tunai bersih daripada
pelupusan kepentingan dalamanak syarikat 35 – 60,762 – 106,118
Dividen diterima daripadaanak-anak syarikat – – 8,532 46,209
Dividen diterima daripadasyarikat bersekutu 577 – 577 –
Deposit boleh dikembalikan dibayar (42,535) (34,109) – –Perolehan daripada pelupusan
hartanah, loji dan peralatan 177,580 326,539 6,900 –Perolehan daripada pelupusan aset
bukan semasa dikelaskan sebagaidipegang untuk jualan 94,501 6,656 – –
Bayaran balik bersih daripadasyarikat bersekutu 49,674 1,803 49,674 10,000
Pembelian hartanah, loji dan peralatan 36 (190,955) (529,309) (6,448) (2,889)Faedah diterima 3,669 3,845 4,523 11,636Pengeluaran deposit tetap 112,768 2,216 115,246 610
TUNAI BERSIH DARIPADA/ (BAGI)KEGIATAN PELABURAN 200,618 (58,111) 131,328 181,258
BAKI DIHANTAR KE HADAPAN 96,365 (29,275) 116,624 129,073
* Kurang daripada RM1,000.
Nota-nota mengiringi membentuk bahagian penting penyata kewangan
Penyata Aliran Tunai (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
180 Petra Perdana Berhad
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
BAKI DIBAWA KEHADAPAN 96,365 (29,275) 116,624 129,073
ALIRAN TUNAI BAGIKEGIATAN PEMBIAYAAN
Perolehan daripada terbitan sahamoleh anak syarikat kepadapemegang-pemegang saham minoriti 45 322 – –
Perolehan daripada terbitan saham 111,711 – 111,711 –Perbelanjaan terbitan saham (1,888) – (1,888) –Pengeluaran pinjaman bank 71,408 231,368 25,000 170,000Bayaran balik pinjaman bank (270,000) (384,908) (270,000) (383,000)Bayaran balik obligasi sewa beli (46) (245) (27) –Pendahuluan daripada anak-anak syarikat – – 27,977 31,668Bayaran balik kepada syarikat bersekutu – – – 1,975(Bayaran balik kepada)/ Pendahuluan
daripada pihak berkaitan (219) 236 29 3Dividen dibayar kepada
pemegang-pemegang saham minoritioleh anak-anak syarikat – (1,893) – –
Dividen dibayar (4,464) (4,464) (4,464) (4,464)
TUNAI BERSIH BAGIKEGIATAN PEMBIAYAAN (93,453) (159,584) (111,662) (183,818)
PENINGKATAN/ (PENGURANGAN)BERSIH DALAM TUNAI DANSETARA TUNAI 2,912 (188,859) 4,962 (54,745)
KESAN TERJEMAHANPERTUKARAN ASING (388) 920 – –
TUNAI DAN SETARA TUNAI PADAPERMULAAN TAHUN KEWANGAN 35,419 223,358 16,356 71,101
TUNAI DAN SETARA TUNAI PADAAKHIR TAHUN KEWANGAN 37 37,943 35,419 21,318 16,356
Nota-nota mengiringi membentuk bahagian penting penyata kewangan
Penyata Aliran Tunai (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 181
1. MAKLUMAT AM
Syarikat adalah sebuah syarikat awam berhad melalui saham dan diperbadankan di bawah Akta Syarikat 1965 di Malaysia.Domisil Syarikat adalah di Malaysia. Pejabat berdaftar yang juga merupakan tempat perniagaan utama, ialah di No. 6-8, Jalan3/3C, Batu 7, Jalan Ipoh, 68100 Kuala Lumpur.
Penyata kewangan telah dibenarkan untuk pengeluaran oleh Lembaga Pengarah selaras dengan resolusi para pengarah bertarikh28 April 2011.
2. KEGIATAN UTAMA
Syarikat pada dasarnya adalah sebuah syarikat pemegangan pelaburan dan juga terlibat dalam penyediaan perkhidmatanpentadbiran dan pengurusan kepada anak-anak syarikatnya. Kegiatan utama anak-anak syarikat dinyatakan dalam Nota 5 kepadapenyata kewangan. Tidak ada perubahan ketara dalam kegiatan ini dalam tahun kewangan.
3. ASAS PENYEDIAAN
Penyata kewangan Kumpulan disediakan di bawah konvensyen kos sejarah dan diubahsuai untuk memasukkan lain-lain asaspenilaian sebagaimana dinyatakan dalam lain-lain seksyen di bawah polisi-polisi perakaunan penting, dan mematuhi PiawaianPelaporan Kewangan (“FRS”) dan Akta Syarikat 1965 di Malaysia.
(a) Dalam tahun kewangan semasa, Kumpulan telah menerima pakai piawaian-piawaian perakaunan dan tafsiran-tafsiran baruberikut (termasuk pindaan-pindaan berbangkit):
FRS dan Tafsiran IC (Termasuk Pindaan-pindaan berbangkit)
FRS 4 Kontrak Insurans
FRS 7 Instrumen Kewangan: Pendedahan
FRS 8 Segmen Kendalian
FRS 101 (Disemak) Pembentangan Penyata Kewangan
FRS 123 (Disemak) Kos Pinjaman
FRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran
Pindaan kepada FRS 1 dan FRS 127: Kos Pelaburan dalam Anak Syarikat, Entiti Kawalan Bersama atau Syarikat Bersekutu
Pindaan kepada FRS 2: Syarat-syarat Perletahakan dan Pembatalan
Pindaan kepada FRS 7, FRS 139 dan Tafsiran IC 9
Pindaan kepada FRS 101 dan FRS 132: Instrumen Kewangan Boleh Letak dan Obligasi Timbul atas Pembubaran
Nota-nota Kepada Penyata KewanganBagi Tahun Kewangan Berakhir 31 Disember 2010
182 Petra Perdana Berhad
3. ASAS PENYEDIAAN (SAMB)
(a) FRS dan Tafsiran IC (Termasuk Pindaan-pindaan Berbangkit) (Samb)
Pindaan kepada FRS 132: Pengkelasan Terbitan Hak dan Peruntukan Peralihan berhubung dengan Instrumen Kompoun
Tafsiran IC 9 Penilaian Semula Derivatif Terbenam
Tafsiran IC 10 Pelaporan Kewangan dan Rosot Nilai Interim
Tafsiran IC 11: FRS 2 – Urus Niaga Saham Kumpulan dan Perbendaharaan
Tafsiran IC 13 Program Kesetiaan Pelanggan
Tafsiran IC 14: FRS 119 – Had ke atas Aset Manfaat Dinyatakan, Keperluan Pendanaan Minimum dan Interaksinya
Penambahbaikan Tahunan kepada FRS (2009)
Penerimaan pakai piawaian-piawaian perakaunan dan tafsiran-tafsiran di atas (termasuk pindaan-pindaan berbangkit) tidakmempunyai sebarang kesan material ke atas penyata kewangan Kumpulan, selain daripada yang berikut:
(i) FRS 7 memerlukan pendedahan tambahan mengenai instrumen kewangan Kumpulan. Sebelum 1 Januari 2010,maklumat mengenai penyata kewangan didedahkan selaras dengan keperluan FRS 132 – Instrumen Kewangan:Pendedahan dan Pembentangan. FRS 7 memerlukan pendedahan maklumat kualitatif dan kuantitatif mengenaipendedahan kepada risiko-risiko timbul daripada instrumen kewangan, termasuk pendedahan minimum khusus mengenairisiko kredit, risiko mudah tunai dan risiko pasaran, termasuk analisis kesensitifan kepada risiko pasaran.
Kumpulan telah menggunakan FRS 7 secara prospektif selaras dengan peruntukan peralihan. Selaras dengan itu,pendedahan baru belum terpakai kepada angka-angka perbandingan dan dimasukkan di seluruh penyata kewanganbagi tahun kewangan semasa.
(ii) FRS 101 (Disemak) memperkenalkan penyata pendapatan komprehensif, dengan semua perkara pendapatan danperbelanjaan diiktiraf dalam keuntungan atau kerugian, bersama dengan semua perkara lain daripada pendapatandiiktiraf dan perbelanjaan diiktiraf secara langsung dalam ekuiti, sama ada dalam satu penyata tunggal, atau dalam duapenyata berhubung kait. Kumpulan telah memilih untuk membentangkan penyata ini sebagai satu penyata tunggal.
Piawaian disemak juga mengasingkan perubahan pemilik dan bukan pemilik dalam ekuiti. Penyata perubahan dalamekuiti termasuk hanya butir-butir urus niaga dengan pemilik, dengan semua perubahan bukan pemilik dalam ekuitidibentangkan dalam penyata pendapatan komprehensif sebagai lain-lain pendapatan komprehensif.
FRS 101 (Disemak) juga memerlukan Kumpulan untuk membuat pendedahan baru bagi membolehkan pengguna penyatakewangan untuk menilai objektif, polisi dan proses Kumpulan bagi menguruskan modal. Pendedahan baru ini dibuatdalam Nota 45(b) kepada penyata kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 183
3. ASAS PENYEDIAAN (SAMB)
(a) (iii) Penerimaan pakai FRS 139 (termasuk pindaan-pindaan berbangkit) telah menyebabkan beberapa perubahan kepadapolisi-polisi perakaunan berkaitan dengan pengiktirafan dan pengukuran instrumen kewangan.
Kesan kewangan kepada penyata kewangan diringkaskan seperti berikut:
Kumpulan Pada1.1.2010
Nota RM’000
Keuntungan tertahanPengukuran semula deposit boleh dikembalikan bukan semasa (aa) (35,728)Pengukuran semula pinjaman (bb) 198Bahagian daripada FRS 139 kesan kewangan dalam syarikat bersekutu 485
(35,045)
Syarikat Pada1.1.2010RM’000
Keuntungan tertahanPengukuran semula pinjaman (bb) 198
(aa) Sebelum 1 Januari 2010, deposit boleh dikembalikan Kumpulan yang dikelaskan di bawah aset bukan semasatelah dicatat pada kos. Dengan penerimaan pakai FRS 139, deposit ini diiktiraf sekarang pada awalnya pada nilaisaksamanya, yang dianggarkan dengan mendiskaunkan aliran tunai dijangka dengan menggunakan kadar faedahpasaran semasa pinjaman dengan risiko dan tempoh yang sama. Selepas pengiktirafan awal, deposit bolehdikembalikan diukur pada kos dilunaskan. Pendapatan faedah diiktiraf dalam keuntungan atau kerugian denganmenggunakan kaedah faedah berkesan.
(bb) Sebelum 1 Januari 2010, pinjaman Kumpulan dan Syarikat telah dicatat pada kos. Dengan penerimaan pakai FRS139, pinjaman ini sekarang diiktiraf pada awalnya pada nilai saksamanya dan diukur semula pada kos dilunaspada setiap tempoh pelaporan berikutnya.
(cc) Sebelum 1 Januari 2010, pinjaman atau pendahuluan antara syarikat telah dicatat pada kos. Dengan penerimaanpakai FRS 139, pinjaman dan pendahuluan antara syarikat diiktiraf sekarang pada awalnya pada nilai saksamanya,yang dianggarkan melalui pendiskaunan jangkaan aliran tunai dengan menggunakan kadar faedah pasaran semasapinjaman dengan risiko dan tempoh serupa. Selepas pengiktirafan awal, pinjaman dan pendahuluan ini diukurpada kos dilunaskan.
Di samping itu, pinjaman dan pendahuluan tertentu yang mana penyelesaian tidak dirancang tidak jugaberkemungkinan akan berlaku pada masa hadapan boleh diramal adalah, pada amnya, sebahagian daripadapelaburan bersih Syarikat dalam anak-anak syarikat, dinyatakan pada kos tolak sebarang kerugian rosot nilaidalam penyata kewangan Syarikat. Selaras dengan itu, penerimaan pakai FRS 139 tidak mempunyai sebarangkesan kewangan ke atas penyata kewangan berhubung dengan pinjaman atau pendahuluan ini.
(dd) Syarikat sebelum ini telah menyatakan secara jelas bahawa ia mengambil kira kontrak jaminan kewangankemudahan perbankan diberikan kepada anak–anak syarikat dan pihak-pihak berkaitan sebagai kontrak insuransdan akan menggunakan FRS 4 kepada kontrak jaminan kewangan sedemikian. Selaras dengan itu, penerimaanpakai FRS 139 tidak mempunyai sebarang kesan kewangan ke atas penyata kewangan berhubung dengan kontrakjaminan kewangan yang dikeluarkan oleh Syarikat kepada anak-anak syarikat dan pihak-pihak berkaitannya.Kontrak jaminan kewangan dikeluarkan dinyatakan sebagai liabiliti luar jangka di bawah Nota 41 kepadapenyata kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
184 Petra Perdana Berhad
3. ASAS PENYEDIAAN (SAMB)
(a) (iii) Semua kesan kewangan ini diiktiraf sebagai pelarasan kepada baki pembukaan keuntungan tertahan pada 1 Januari 2010atas penerimaan pakai FRS 139. Angka-angka Perbandingan tidak diselaraskan/ diwakili selaras denganpengecualian diberikan dalam piawaian ini.
(b) Kumpulan tidak menggunakan secara terdahulu piawaian-piawaian perakaunan dan tafsiran-tafsiran (termasuk pindaan-pindaan berbangkit) yang telah dikeluarkan oleh Lembaga Piawaian Perakaunan Malaysia (MASB) tetapi masih belum berkuatkuasa bagi tahun kewangan semasa:
FRS dan Tafsiran IC (Termasuk Pindaan-pindaan Berbangkit) Tarikh BerkuatKuasa
FRS 1 (Disemak) Penerimaan Pakai Kali Pertama Piawaian Pelaporan Kewangan 1 Julai 2010
FRS 3 (Disemak) Kombinasi Perniagaan 1 Julai 2010
FRS 124 (Disemak) Pendedahan Pihak Berkaitan 1 Januari 2012
FRS 127 (Disemak) Penyata Kewangan Disatukan dan Berasingan 1 Julai 2010
Pindaan kepada FRS 1 (Disemak): Pengecualian Terhad daripada Perbandingan FRS 7Pendedahan bagi Penerima Pakai Kali Pertama 1 Januari 2011
Pindaan kepada FRS 1: Pengecualian Tambahan bagi Penerima Pakai Kali Pertama 1 Januari 2011
Pindaan kepada FRS 2: Skop FRS 2 dan FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada FRS 2: Urus Niaga Bayaran berdasarkan Saham diselesaikan secara Tunai Kumpulan 1 Januari 2011
Pindaan kepada FRS 5: Rancangan untuk Menjual Kepentingan Mengawal dalam Anak Syarikat 1 Julai 2010
Pindaan kepada FRS 7: Menambah Baik Pendedahan mengenai Instrumen Kewangan 1 Januari 2011
Pindaan kepada FRS 138: Pindaan-pindaan Berbangkit Timbul daripada FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada Tafsiran IC 9: Skop Tafsiran IC9 dan FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada Tafsiran IC 14: Prabayaran Keperluan Pendanaan Minimum 1 Julai 2011
Tafsiran IC 4 Menentukan Sama Ada Pengaturan Mengandungi Pajakan 1 Januari 2011
Tafsiran IC 12 Pengaturan Konsesi Perkhidmatan 1 Julai 2010
Tafsiran IC 15 Perjanjian bagi Pembinaan Harta Tanah 1 Januari 2012
Tafsiran IC 16 Lindungan Nilai Pelaburan Bersih dalam Operasi Asing 1 Julai 2010
Tafsiran IC 17 Pengagihan Aset Bukan Tunai kepada Pemilik 1 Julai 2010
Tafsiran IC 18 Pemindahan Aset daripada Pelanggan 1 Januari 2011
Tafsiran IC 19 Membezakan Liabiliti Kewangan dengan Instrumen Ekuiti 1 Julai 2011
Penambahbaikan Tahunan kepada FRS (2010) 1 Januari 2011
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 185
3. ASAS PENYEDIAAN (SAMB)
(b) Piawaian-piawaian perakaunan dan tafsiran-tafsiran (termasuk pindaan-pindaan berbangkit) di atas adalah tidak berkenaandengan operasi Kumpulan kecuali seperti berikut:
(i) FRS 3 (Disemak) memperkenalkan perubahan ketara kepada perakaunan bagi kombinasi perniagaan, kedua-dua padatarikh pengambilalihan dan selepas pengambilalihan, dan memerlukan penggunaan lebih besar nilai saksama. Selaindaripada itu, semua kos urus niaga, selain daripada kos terbitan saham dan hutang, akan dijadikan belanjasebagaimana ditanggung. Piawaian disemak ini akan dipakai secara prospektif dan dengan yang demikian tidak akanmempunyai sebarang kesan kewangan ke atas penyata kewangan Kumpulan bagi tahun kewangan semasa tetapimungkin memberi kesan ke atas perakaunan bagi urus niaga atau pengaturan masa hadapan.
(ii) FRS 127 (Disemak) memerlukan perakaunan bagi perubahan dalam kepentingan pemilikan oleh kumpulan dalam anaksyarikat, manakala mengekalkan kawalan, untuk diiktiraf sebagai urus niaga ekuiti. Apabila kumpulan kehilangankawalan anak syarikat, mana-mana kepentingan dikekalkan dalam bekas anak syarikat akan diukur pada nilai saksamadengan keuntungan atau kerugian diiktiraf dalam keuntungan atau kerugian. Piawaian disemak juga memerlukan semuakerugian boleh dikaitkan dengan kepentingan minoriti untuk diserap oleh kepentingan minoriti dan bukannya olehsyarikat induk. Kumpulan akan menggunakan perubahan ketara FRS 127 (Disemak) secara prospektif dan dengan yangdemikian tidak akan mempunyai sebarang kesan kewangan ke atas penyata kewangan Kumpulan bagi tahun kewangansemasa tetapi mungkin memberi kesan ke atas perakaunan urus niaga atau pengaturan masa hadapannya.
4. POLISI-POLISI PERAKAUNAN PENTING
(a) Anggaran dan Pertimbangan Perakaunan Penting
Anggaran dan penghakiman dinilai secara berterusan oleh para pengarah dan pengurusan dan adalah berdasarkan sejarahpengalaman dan faktor-faktor yang lain, termasuk jangkaan mengenai peristiwa masa hadapan yang dipercayai sebagaimunasabah di bawah keadaan. Anggaran dan penghakiman yang melibatkan penggunaan polisi perakaunan danpendedahan Kumpulan, dan mempunyai risiko ketara dalam menyebabkan pelarasan material kepada jumlah penyimpananaset, liabiliti, pendapatan dan perbelanjaan dibincangkan di bawah:
(i) Susut Nilai Hartanah, Loji dan Peralatan
Anggaran bagi nilai baki, hayat berguna dan caj susut nilai bagi hartanah, loji dan peralatan adalah berdasarkanfaktor-faktor komersial yang mungkin berubah dengan ketara berpunca daripada inovasi teknikal dan tindakan pesaingsebagai tindak balas kepada keadaan pasaran.
Kumpulan menjangkakan bahawa nilai baki hartanah, loji dan peralatannya adalah tidak ketara. Akibat daripada itu,nilai baki tidak boleh diambil kira bagi pengiraan jumlah boleh disusutnilaikan.
Perubahan dalam tahap penggunaan dijangka dan perkembangan teknologi mungkin memberi kesan ke atas hayatberguna ekonomi dan nilai baki aset ini, dengan yang demikian caj susut nilai pada masa hadapan mungkin disemak.
(ii) Cukai Pendapatan
Terdapat urus niaga dan pengiraan tertentu untuk yang mana penentuan cukai muktamad mungkin berbeza daripadaanggaran awal. Kumpulan mengiktiraf liabiliti cukai berdasarkan pemahamannya mengenai undang-undang cukai dananggaran-anggaran sedia ada mengenai sama ada cukai sedemikian akan menjadi kena dibayar dalam urusan biasaperniagaan. Di mana keputusan akhir mengenai perkara-perkara ini berbeza daripada yang diiktiraf pada awalnya,perbezaan sedemikian akan memberi kesan ke atas cukai pendapatan dan peruntukan cukai tertunda dalam tempohdalam mana penentuan sedemikian dibuat.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
186 Petra Perdana Berhad
4. POLISI-POLISI PERAKAUNAN PENTING (SAMB)
(a) Anggaran dan Pertimbangan Perakaunan Penting (Samb)
(iii) Rosot Nilai Aset Bukan Kewangan
Di mana jumlah boleh diperolehi semula aset ditentukan berdasarkan nilai dalam penggunaan daripada unit penghasilantunai untuk yang mana aset diperuntukkan, Kumpulan diperlukan untuk membuat anggaran daripada aliran tunai masahadapan dijangka daripada unit penghasilan tunai dan juga untuk menggunakan kadar diskaun yang bersesuaian untukmenentukan nilai semasa aliran tunai tersebut.
(iv) Peruntukan bagi Inventori
Semakan dibuat secara berkala oleh pengurusan ke atas inventori yang rosak, lapuk dan bergerak perlahan. Semakanini memerlukan penghakiman dan anggaran. Perubahan yang mungkin dalam anggaran ini mungkin menyebabkansemakan kepada penilaian inventori.
(v) Pajakan Kendalian
Kumpulan menandatangani Perjanjian Jualan dan Pajakan Balik bagi jualan kapal anak–anak syarikat dengan pihakketiga. Selepas itu, kapal telah dipajak semula oleh anak syarikat daripada pihak ketiga bagi tempoh pajakan berkisardari lima (5) hingga sepuluh (10) tahun bermula dari tarikh penghantaran kapal atau pembiayaan diperolehi, denganopsyen untuk membeli balik kapal pada akhir tempoh pajakan utama sekiranya pihak ketiga memutuskan untuk menjualkapal dalam tempoh pajakan. Para pengarah berpendapat bahawa pengaturan pajakan hendaklah dianggap sebagaipajakan kendalian memandangkan pada masa ini pihak pengurusan tidak berhasrat untuk membeli balik kapal padaakhir tempoh pajakan utama dan tempoh pajakan tidak membentuk bahagian utama hayat ekonomi kapal.
(vi) Rosot Nilai Penghutang Perdagangan dan Lain-lain Penghutang
Kerugian rosot nilai diiktiraf apabila terdapat bukti objektif bahawa aset kewangan merosot. Pengurusan secara khususmenyemak aset kewangan pinjaman dan penghutangnya dan menganalisis sejarah hutang lapuk, penumpuanpelanggan, kepercayaan kredit pelanggan, trend ekonomi semasa dan perubahan dalam terma-terma bayaranpelanggan apabila membuat pertimbangan untuk menilai kecukupan peruntukan bagi kerugian kemerosotan nilai. Dimana terdapat bukti objektif kemerosotan, jumlah dan pemasaan aliran tunai masa hadapan dianggarkan berdasarkansejarah pengalaman kerugian bagi aset dengan ciri-ciri risiko kredit yang serupa. Sekiranya jangkaan adalah berbezadaripada anggaran, perbezaan sedemikian akan memberi kesan ke atas ke nilai penyimpanan penghutang.
(vii) Rosot Nilai Muhibah
Muhibah diuji terhadap rosot nilai secara tahunan dan pada lain-lain masa apabila petunjuk sedemikian wujud. Inimemerlukan pengurusan untuk menganggarkan jangkaan aliran tunai masa hadapan daripada unit penghasilan tunaikepada mana muhibah diperuntukkan dan untuk menggunakan kadar diskaun yang sesuai untuk menentukan nilaisemasa aliran tunai tersebut. Aliran tunai masa hadapan adalah amat sensitive kepada margin kasar yang dibajet,anggaran kadar pertumbuhan dan kadar diskaun yang digunakan. Sekiranya jangkaan adalah berbeza daripadaanggaran, perbezaan sedemikian akan memberi kesan kepada nilai penyimpanan muhibah.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 187
4. POLISI-POLISI PERAKAUNAN PENTING (SAMB)
(a) Anggaran dan Pertimbangan Perakaunan Penting (Samb)
(viii) Anggaran Nilai Saksama bagi Aset dan Liabiliti Kewangan Tertentu
Kumpulan membawa aset dan liabiliti kewangan tertentu pada nilai saksama, yang memerlukan penggunaan ekstensifanggaran perakaunan dan pertimbangan. Manakala komponen-komponen penting pengukuran nilai saksama telahditentukan dengan menggunakan bukti objektif boleh ditentusahkan, jumlah perubahan dalam nilai saksama akanberbeza sekiranya Kumpulan menggunakan metadologi penilaian berbeza. Sebarang perubahan dalam nilai saksamaaset dan liabiliti ini akan menjejaskan keputusan dan/atau ekuiti.
(b) Asas Penyatuan
Penyata kewangan disatukan termasuk penyata kewangan Syarikat dan anak-anak syarikatnya bagi tahun kewangansehingga 31 Disember 2010.
Anak syarikat ditakrifkan sebagai sebuah syarikat dalam mana syarikat induk mempunyai kuasa, secara langsung atautidak langsung, untuk melaksanakan kawalan ke atas polisi kewangan dan kendaliannya untuk mendapat manfaatdaripada kegiatannya.
Semua anak syarikat disatukan dengan menggunakan kaedah pembelian. Di bawah kaedah pembelian, keputusan anak-anaksyarikat diambil alih atau dilupuskan dimasukkan dari tarikh pengambilalihan atau sehingga tarikh pelupusan. Pada tarikhpengambilalihan, nilai saksama aset bersih anak-anak syarikat ditentukan dan nilai ini ditunjukkan dalam penyata kewangandisatukan. Kos pengambilalihan diukur pada agregat nilai saksama, pada tarikh pertukaran, aset-aset yang diberikan, liabilitiditanggung atau diandaikan, dan instrumen ekuiti diterbitkan oleh Kumpulan sebagai pertukaran bagi kawalan syarikatdiambil alih, campur sebarang kos secara langsung boleh dikaitkan kepada kombinasi perniagaan.
Urus niaga, baki dan laba tidak direalisasikan dalam kumpulan akan dihapus kira; kerugian tidak direalisasikan juga dihapuskira melainkan kos tidak boleh diperolehi semula. Di mana perlu, pelarasan dibuat kepada penyata kewangan anak-anaksyarikat untuk memastikan keseragaman polisi-polisi perakaunan Kumpulan.
Kepentingan minoriti dalam penyata kedudukan kewangan disatukan terdiri daripada bahagian minoriti daripada nilaisaksama aset dan liabiliti syarikat diambil alih pada tarikh pengambilalihan dan bahagian minoriti daripada pergerakandalam ekuiti syarikat diambil alih.
Kepentingan minoriti dibentangkan dalam ekuiti dalam penyata kedudukan kewangan, secara berasingan daripada ekuitipemegang-pemegang saham Syarikat, dan didedahkan secara berasingan dalam penyata pendapatan komprehensif. Urusniaga dengan kepentingan minoriti diakaunkan sebagai urus niaga dengan pemilik-pemilik. Laba atau kerugian ataspelupusan kepada kepentingan minoriti diiktiraf secara langsung dalam ekuiti.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
188 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(c) Muhibah
Muhibah mewakili lebihan nilai saksama balasan pembelian ke atas bahagian Kumpulan daripada nilai saksama aset, liabilitidan liabiliti kontigen boleh dikenal pasti anak-anak syarikat pada tarikh pengambilalihan.
Muhibah diukur pada kos tolak kerugian rosot nilai, sekiranya ada. Nilai dibawa muhibah disemak bagi kemerosotan secaratahunan. Nilai kemerosotan muhibah diiktiraf dengan serta-merta dalam keuntungan atau kerugian. Kerugian rosot nilaidiiktiraf bagi muhibah tidak diterbalikkan dalam tempoh berikutnya.
Sekiranya, selepas penilaian semula, kepentingan Kumpulan dalam nilai saksama aset bersih boleh dikenal pasti anak-anaksyarikat melebihi kos kombinasi perniagaan, lebihan diiktiraf sebagai pendapatan dengan serta-merta dalam keuntunganatau kerugian.
(d) Mata Wang Kefungsian dan Asing
(i) Mata Wang Kefungsian dan Pembentangan
Penyata kewangan individu setiap entiti dalam Kumpulan dibentangkan dalam mata wang daripada persekitaranekonomi utama dalam mana entiti beroperasi, yang merupakan mata wang kefungsian.
Penyata kewangan disatukan dibentangkan dalam Ringgit Malaysia yang merupakan mata wang kefungsian danpembentangan Syarikat.
(ii) Urus Niaga dan Baki
Urus niaga dalam mata wang asing ditukar kepada mata wang kefungsian masing-masing atas pengiktirafan awal,dengan menggunakan kadar pertukaran yang menyamai dengan yang terdapat pada tarikh urus niaga. Aset dan liabilitimonetari pada akhir tempoh pelaporan diterjemahkan pada kadar yang terdapat pada tarikh tersebut. Aset dan liabilitibukan monetari diterjemahkan dengan menggunakan kadar pertukaran yang wujud apabila nilai-nilai telah ditentukan.Semua perbezaan pertukaran diiktiraf dalam keuntungan atau kerugian.
(iii) Operasi Asing
Aset dan liabiliti operasi asing diterjemahkan kepada Ringgit Malaysia pada kadar pertukaran yang terdapat padaakhir tempoh pelaporan. Hasil dan perbelanjaan operasi asing diterjemahkan pada kadar pertukaran yang terdapatpada tarikh urus niaga. Semua perbezaan pertukaran timbul daripada terjemahan dimasukkan secara langsung kepadalain-lain pendapatan komprehensif dan dikumpulkan dalam ekuiti di bawah rizab terjemahan. Atas pelupusan operasiasing, jumlah terkumpul diiktiraf dalam lain-lain pendapatan komprehensif berkaitan dengan operasi asing tertentudikelaskan semula daripada ekuiti kepada keuntungan atau kerugian.
Pelarasan muhibah dan nilai saksama timbul daripada pengambilalihan operasi asing dianggap sebagai aset dan liabilitioperasi asing dan direkodkan dalam mata wang kefungsian operasi asing dan diterjemahkan pada kadar penutupanpada akhir tempoh pelaporan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 189
4. POLISI PERAKAUNAN PENTING (SAMB)
(e) Instrumen Kewangan
Instrumen kewangan diiktiraf dalam penyata kedudukan kewangan apabila Kumpulan telah menjadi pihak kepada peruntukankontrak instrumen.
Instrumen kewangan dikelaskan sebagai liabiliti atau ekuiti selaras dengan isi pengaturan kontrak. Faedah, dividen, laba dankerugian berkaitan dengan instrumen kewangan dikelaskan sebagai liabiliti, dilaporkan sebagai perbelanjaan ataupendapatan. Pengagihan kepada pemegang-pemegang instrumen kewangan dikelaskan sebagai ekuiti dicaj secara langsungkepada ekuiti.
Instrumen kewangan diseimbangkan apabila Kumpulan mempunyai hak boleh dikuatkuasakan secara sah untukmengimbangkan dan berhasrat untuk menyelesaikan sama ada atas dasar bersih atau untuk merealiskan aset danmenyelesaikan liabiliti secara serentak.
Instrumen kewangan diiktiraf pada awalnya, pada nilai saksamanya campur, dalam hal instrumen kewangan bukan pada nilaisaksama melalui keuntungan atau kerugian, kos urus niaga yang secara langsung boleh dikaitkan kepada pemerolehan atauterbitan instrumen kewangan.
Instrumen kewangan diiktiraf dalam penyata kedudukan kewangan dinyatakan dalam penyata polisi individu berkaitan dengansetiap perkara.
(i) Aset Kewangan
Atas pengiktirafan awal, aset kewangan dikelaskan sama ada sebagai aset kewangan pada nilai saksama melaluikeuntungan atau kerugian, pinjaman dan penghutang, pelaburan dipegang sehingga matang, atau aset kewangantersedia untuk jualan, sebagaimana sesuai.
• Aset Kewangan pada Nilai Saksama Melalui Keuntungan atau Kerugian
Aset kewangan dikelaskan sebagai aset kewangan pada nilai saksama melalui keuntungan atau kerugian apabilaaset kewangan sama ada dipegang untuk perdagangan atau ditetapkan untuk menghapus kira atau secara ketaramengurangkan ketidakselarasan pengukuran atau pengiktirafan yang mungkin timbul sebaliknya. Derivatif jugadikelaskan sebagai dipegang untuk perdagangan (kecuali bagi derivatif yang ditetapkan dan instrumen lindungannilai berkesan).
Aset kewangan pada nilai saksama melalui keuntungan atau kerugian dinyatakan pada nilai saksama, dengansebarang laba atau kerugian timbul atas pengukuran semula diiktiraf dalam keuntungan atau kerugian. Pendapatandividen daripada kategori aset kewangan ini diiktiraf dalam keuntungan atau kerugian apabila hak Kumpulan untukmenerima bayaran dibuktikan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
190 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(e) Instrumen Kewangan (Samb)
(i) Aset Kewangan (Samb)
• Pelaburan dipegang sehingga matang
Pelaburan dipegang sehingga matang adalah aset kewangan bukan derivatif dengan bayaran tetap atau bolehditentukan dan kematangan tetap yang pengurusan mempunyai hasrat dan keupayaan positif untuk pegangsehingga matang. Pelaburan dipegang sehingga matang diukur pada kos dilunaskan dengan menggunakan kaedahfaedah berkesan tolak sebarang kerugian rosot nilai, dengan hasil diiktiraf atas dasar kadar hasil berkesan.
• Aset Kewangan Pinjaman dan Penghutang
Penghutang perdagangan dan lain-lain penghutang yang mempunyai bayaran tetap atau boleh ditentukan yangtidak disebut harga dalam pasaran aktif dikelaskan sebagai aset kewangan pinjaman dan penghutang. Asetkewangan pinjaman dan penghutang diukur pada kos dilunas dengan menggunakan kaedah faedah berkesan,tolak sebarang kerugian rosot nilai. Pendapatan faedah diiktiraf dengan menggunakan kadar faedah berkesan,kecuali bagi penghutang jangka pendek dengan pengiktirafan faedah akan menjadi tidak material.
• Aset Kewangan Tersedia Untuk Jualan
Aset kewangan tersedia untuk jualan adalah aset kewangan bukan derivatif yang ditetapkan dalam kategori ini atautidak dikelaskan dalam sebarang kategori lain.
Selepas pengiktirafan awal, aset kewangan tersedia untuk jualan diukur semula pada akhir tempoh pelaporan.Laba dan kerugian timbul daripada perubahan dalam nilai saksama diiktiraf dalam lain-lain pendapatankomprehensif dan dikumpulkan dalam rizab nilai saksama, kecuali bagi kerugian rosot nilai. Atas penyahiktirafan,laba atau kerugian terkumpul sebelum ini dalam rizab nilaisaksama dikelaskan semula daripada ekuiti ke dalamkeuntungan atau kerugian.
Dividen ke atas instrumen ekuiti tersedia untuk jualan diiktiraf dalam keuntungan atau kerugian apabila hakKumpulan untuk menerima bayaran dibuktikan.
Pelaburan dalam instrumen ekuiti yang nilai saksama tidak boleh diukur dengan betul diukur pada kos tolakkerugian rosot nilai, sekiranya ada.
(ii) Liabiliti Kewangan
Semua liabiliti kewangan pada awalnya direkodkan pada nilai saksama campur kos urus niaga boleh dikaitkan secaralangsung dan kemudiannya diukur pada kos dilunaskan dengan menggunakan kaedah faedah berkesan selain daripadayang dikategorikan sebagai nilai saksama melalui keuntungan atau kerugian.
Nilai saksama melalui kategori keuntungan atau kerugian terdiri daripada liabiliti kewangan yang sama ada dipeganguntuk perdagangan atau ditetapkan untuk menghapus kira atau mengurangkan dengan ketara ketidakselarasanpengukuran atau pengiktirafan yang akan sebaliknya timbul. Derivatif juga dikelaskan sebagai dipegang untukperdagangan melainkan ia ditetapkan sebagai lindungan nilai.
(iii) Instrumen Ekuiti
Saham-saham biasa dikelaskan sebagai ekuiti. Kos pertambahan boleh dikaitkan secara langsung dengan terbitansaham atau opsyen baru ditunjukkan dalam ekuiti sebagai penolakan, tolak cukai, daripada perolehan.
Dividen ke atas saham-saham biasa diiktiraf sebagai liabiliti apabila diluluskan untuk pengasingan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 191
4. POLISI PERAKAUNAN PENTING (SAMB)
(e) Instrumen Kewangan (Samb)
(iv) Waran
Perolehan, jumlah kos terbitan, daripada penerbitan waran atau diperuntukkan selaras dengan FRSIC Konsensus 9 -Perakaunan bagi Terbitan Hak dengan Waran Percuma dikreditkan kepada rizab waran yang tidak boleh diagih. Rizabwaran dipindahkan kepada akaun premium saham atas pelaksanaan waran dan rizab waran berhubung dengan warantidak dilaksanakan pada penamatan waran akan dipindahkan kepada perolehan tertahan.
(v) Kegiatan Lindung Nilai
Kumpulan menandatangani pelbagai instrumen kewangan derivatif bagi menguruskan pendedahannya kepada risikokadar faedah dan kadar pertukaran asing, termasuk swap mata wang bersilang dan swap kadar faedah.
Kumpulan menetapkan derivatif tertentu sama ada sebagai lindungan nilai bagi nilai saksama aset dan liabiliti diiktirafatau komitmen kukuh (lindungan nilai bagi nilai saksama), lindungan nilai urus niaga ramalan amat berkemungkinanatau lindungan nilai risiko mata wang asing komitmen kukuh (lindungan nilai aliran tunai), atau lindungan nilai pelaburanbersih dalam operasi asing.
• Perakaunan lindungan nilai
Kumpulan menetapkan instrumen lindungan nilai tertentu, yang termasuk derivatif, derivatif dan bukan derivatifterbenam berhubung dengan risiko mata wang asing, sama ada lindungan nilai bagi nilai saksama, lindungan nilaialiran tunai, atau lindungan nilai pelaburan bersih dalam operasi asing. Lindungan nilai risiko pertukaran asing keatas komitmen kukuh diakaunkan sebagai lindungan nilai aliran tunai.
Pada permulaan perhubungan lindungan nilai, entiti mendokumenkan perhubungan di antara instrumen lindungannilai dan perkara dilindung nilai, bersama dengan objektif pengurusan risikonya dan strateginya bagimelaksanakan pelbagai urus niaga lindung nilai. Selanjutnya, pada permulaan lindungan nilai dan atas dasarberterusan, Kumpulan mendokumenkan sama ada instrumen lindungan nilai adalah amat berkesan dalammengimbangkan perubahan dalam nilai saksama atau aliran tunai perkara dilindung nilai.
• Lindungan nilai bagi nilai saksama
Perubahan dalam nilai saksama derivatif yang ditetapkan dan layak sebagai lindungan nilai bagi nilai saksamadiiktiraf dalam keuntungan atau kerugian dengan serta-merta, bersama dengan sebarang perubahan dalam nilaisaksama aset atau liabiliti dilindung nilai yang boleh dikaitkan dengan risiko dilindung nilai. Perubahan dalamnilai saksama instrumen melindung nilai dan perubahan dalam perkara dilindung nilai boleh dikaitkan denganrisiko dilindung nilai diiktiraf dalam penyata pendapatan komprehensif berkaitan dengan perkara dilindung nilai.
Perakaunan lindungan nilai dihentikan apabila Kumpulan membatalkan perkaitan lindungan nilai, apabila instrumenmelindung nilai tamat atau dijual, ditamatkan, atau dilaksanakan, atau apabila ia tidak lagi layak bagi perakaunanlindungan nilai. Pelarasan nilai saksama kepada jumlah penyimpanan perkara dilindung nilai timbul daripadarisiko dilindung nilai dilupuskan kepada keuntungan atau kerugian dari tarikh tersebut.
• Lindungan nilai aliran tunai
Bahagian berkesan daripada perubahan dalam nilai saksama derivatif yang ditetapkan dan layak sebagailindungan nilai aliran tunai diiktiraf dalam lain-lain pendapatan komprehensif. Laba atau keuntungan atau kerugianberkaitan dengan bahagian tidak berkesan diiktiraf dengan serta-merta dalam keuntungan atau kerugian.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
192 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(e) Instrumen Kewangan (Samb)
(v) Kegiatan Lindung Nilai (Samb)
• Lindungan nilai aliran tunai (Samb)
Selepas itu, keuntungan atau kerugian terkumpul diiktiraf dalam lain-lain pendapatan komprehensif dikelaskansemula daripada ekuiti kepada keuntungan atau kerugian dalam tempoh atau tempoh-tempoh yang sama dalamyang mana aliran tunai ramalan dilindung nilai melibatkan keuntungan atau kerugian. Sekiranya perkaradilindung nilai bukan merupakan aset atau liabiliti kewangan, laba atau kerugian berkaitan diiktiraf dalam lain-lain pendapatan komprehensif dikeluarkan daripada ekuiti dan dimasukkan dalam jumlah asal aset atau liabiliti.Walau bagaimanapun, kerugian diiktiraf dalam lain-lain pendapatan komprehensif yang tidak boleh diperolehisemula dalam satu atau lebih tempoh pada masa hadapan dikelaskan semula daripada ekuiti ke dalamkeuntungan atau kerugian.
Perakaunan lindungan nilai tidak didiskaunkan secara prospektif apabila Kumpulan membatalkan perkaitanlindungan nilai, apabila instrumen melindung nilai tamat atau dijual, ditamatkan, atau dilaksanakan, atau ia tidaklagi layak bagi perakaunan lindungan nilai. Sebarang laba atau kerugian terkumpul dalam ekuiti pada masatersebut kekal dalam ekuiti dan diiktiraf apabila urus niaga ramalan pada akhirnya diiktiraf dalam keuntunganatau kerugian. Apabila urus niaga ramalan tidak lagi dijangka akan berlaku, laba atau kerugian terkumpul dalamekuiti diiktiraf dengan serta-merta dalam keuntungan atau kerugian.
• Lindungan nilai instrumen bersih dalam operasi asing
Lindungan nilai pelaburan bersih dalam operasi asing diakaunkan sama dengan lindungan nilai aliran tunai.Sebarang laba atau kerugian ke atas instrumen dilindung nilai berkaitan dengan bahagian berkesan daripadalindungan nilai diiktiraf dalam lain-lain pendapatan komprehensif dan dikumpulkan dalam rizab terjemahan matawang asing. Laba atau kerugian berkaitan dengan bahagian tidak berkesan diiktiraf dengan serta-merta dalamkeuntungan atau kerugian.
Laba atau kerugian terkumpul dalam lain-lain pendapatan komprehensif dikelaskan semula daripada ekuiti kedalam keuntungan atau kerugian atas pelupusan operasi asing.
(f) Pelaburan dalam Anak-anak Syarikat
Pelaburan dalam anak-anak syarikat dinyatakan pada kos dalam penyata kedudukan kewangan Syarikat, dan disemak bagirosot nilai pada akhir tempoh pelaporan sekiranya peristiwa atau perubahan dalam keadaan menunjukkan bahawa nilaipenyimpanannya mungkin tidak boleh diperolehi semula.
Atas pelupusan pelaburan dalam sebuah anak syarikat, perbezaan antara perolehan pelupusan bersih dan jumlahpenyimpanan pelaburan diiktiraf dalam keuntungan atau kerugian.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 193
4. POLISI PERAKAUNAN PENTING (SAMB)
(g) Pelaburan dalam Syarikat Bersekutu
Syarikat bersekutu adalah entiti dalam mana Kumpulan mempunyai kepentingan ekuiti jangka panjang dan di mana iamelaksanakan pengaruh penting ke atas polisi kewangan dan operasi.
Pelaburan dalam syarikat bersekutu diakaunkan di bawah kaedah ekuiti, berdasarkan penyata kewangan syarikat bersekutudisediakan sehingga 31 Disember 2010. Bahagian Kumpulan daripada keuntungan selepas pengambilalihan dimasukkandalam penyata pendapatan komprehensif disatukan dan kepentingan Kumpulan dalam syarikat bersekutu dinyatakan dalampenyata kedudukan kewangan disatukan pada kos campur bahagian Kumpulan daripada keuntungan tertahan dan lain-lainrizab selepas pengambilalihan Kumpulan.
Laba tidak direalis atas urus niaga di antara Kumpulan dan syarikat berkaitan dihapus kira sehingga tahap kepentinganKumpulan dalam syarikat bersekutu. Kerugian tidak direalis dihapus kira melainkan kos tidak boleh diperolehi semula.
(h) Hartanah, Loji dan Peralatan
Hartanah, loji dan peralatan dinyatakan pada kos tolak susut nilai terkumpul atau pelunasan dan kerugian rosot nilai,sekiranya ada.
Susut nilai atau pelunasan dikira di bawah kaedah garisan lurus untuk menghapus kira jumlah boleh disusutnilaikan asetsepanjang anggaran hayat bergunanya. Susut nilai aset tidak berhenti apabila aset menjadi terbiar atau tidak lagi digunakansecara aktif melainkan aset disusutnilai sepenuhnya. Kadar tahunan utama digunakan untuk tujuan ini adalah:
Kapal 4% - 7%Peralatan kapal 4% - 10%Limbungan kering 20%Bangunan pegangan pajak 2%Loji dan mesin 10%Peralatan kabin, medan dan bengkel kerja 10% - 20%Kenderaan bermotor 20%
Peralatan, perabot dan kelengkapan pejabat 10% - 20%Lain-lain 10% - 50%
Modal kerja dalam pelaksanaan tidak disusutnilaikan.
Modal kerja dalam pelaksanaan mewakili aset sedang dalam pembinaan, dan yang belum sedia untuk kegunaan komersialpada akhir tempoh pelaporan. Modal kerja dalam pelaksanaan dinyatakan pada kos, dan dipindahkan kepada kategoriaset berkenaan dan disusutnilaikan selaras dengannya apabila aset siap dibina dan sedia untuk kegunaan komersial. Kosmodal kerja dalam pelaksanaan termasuk kos langsung, perbelanjaan berkaitan dan kos faedah ke atas pinjaman dimasukkanuntuk membiayai pembinaan atau pembelian aset sehingga tarikh yang aset siap dibina dan sedia untuk digunakan.
Kos limbungan kering berhubung dengan kos pembaikan dan ubahsuaian utama ditanggung ke atas kapal yang meningkatkanhayat berguna kapal.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
194 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(h) Hartanah, Loji dan Peralatan (Samb)
Kaedah susut nilai, hayat berguna dan nilai baki disemak, dan diselaraskan sekiranya sesuai, pada akhir setiap tempohpelaporan untuk memastikan agar jumlah, kaedah dan tempoh susut nilai adalah konsisten dengan anggaran sebelumnyadan corak penggunaan dijangka ke atas manfaat ekonomi masa hadapan yang terbentuk dalam perkara hartanah, lojidan peralatan.
Kos berikutnya dimasukkan dalam jumlah penyimpanan aset atau diiktiraf sebagai aset berasingan, sebagaimana sesuai,hanya apabila kos ditanggung dan ia berkemungkinan bahawa manfaat ekonomi masa hadapan berkaitan dengan asetakan mengalir ke dalam Kumpulan dan kos aset boleh diukur dengan betul. Jumlah penyimpanan alat-alat ganti tidak lagidiiktiraf. Kos penservisan harian peralatan diiktiraf dalam keuntungan atau kerugian sebagaimana ditanggung. Kos jugaterdiri daripada anggaran awal pelesapan dan pemindahan aset dan pemulihan tapak di atas mana aset terletak bila manaKumpulan bertanggungjawab untuk tanggung apabila aset dibeli, sekiranya terpakai.
Perkara hartanah, loji dan peralatan dinyahiktiraf atas pelupusan atau apabila tiada manfaat ekonomi masa hadapandijangka daripada penggunaannya. Sebarang laba atau kerugian timbul daripada penyahiktirafan aset dimasukkan dalamkeuntungan atau kerugian dalam tahun aset dinyahiktiraf.
(i) Rosot Nilai
(i) Kemerosotan Aset Kewangan
Semua aset kewangan (selain daripada yang dikategorikan pada nilai saksama melalui keuntungan atau kerugian),dinilai pada akhir setiap tempoh pelaporan sama ada terdapat sebarang bukti objektif rosot nilai berpunca daripadasatu atau lebih peristiwa yang mempunyai kesan ke atas anggaran aliran tunai masa hadapan aset. Bagi instrumenekuiti, rosot nilai ketara atau berpanjangan dalam nilai saksama di bawah kosnya dianggap sebagai bukti objektifrosot nilai.
Kerugian rosot nilai berhubung dengan pelaburan dipegang sehingga matang dan aset kewangan pinjaman danpenghutang diiktiraf dalam keuntungan atau kerugian dan diukur sebagai perbezaan di antara amaunpenyimpanan aset dan nilai semasa anggaran aliran tunai masa hadapan, didiskaunkan pada kadar faedahberkesan asal aset kewangan.
Kerugian rosot nilai berhubung dengan aset kewangan tersedia untuk jualan diiktiraf dalam keuntungan atau kerugiandan diukur sebagai perbezaan di antara kosnya (tolak sebarang bayaran pokok dan pelunasan) dan nilai saksamasemasanya, tolak sebarang kerugian rosot nilai diiktiraf sebelum ini dalam rizab nilai saksama. Selain daripada itu,kerugian terkumpul diiktiraf dalam lain-lain pendapatan komprehensif dan dikumpulkan dalam ekuiti di bawah rizab nilaisaksama, dikelaskan semula daripada ekuiti kepada keuntungan atau kerugian.
Kecuali bagi instrumen ekuiti tersedia untuk jualan, sekiranya, dalam tempoh berikutnya, jumlah kerugian rosot nilaiberkurangan dan pengurangan boleh dikaitkan secara objektif dengan peristiwa yang berlaku selepas kemerosotandiiktiraf, kerugian rosot nilai diiktiraf sebelum ini diterbalikkan melalui keuntungan atau kerugian sehingga tahap bahawajumlah penyimpanan pelaburan pada tarikh rosot nilai diterbalikkan tidak melebihi kos yang wujud jika rosot nilai tidakdiiktiraf. Berhubung dengan instrumen ekuiti tersedia untuk jualan, kerugian rosot nilai diiktiraf sebelum ini dalamkeuntungan atau kerugian tidak diterbalikkan melalui keuntungan atau kerugian. Sebarang peningkatan nilai saksamaberikutan kerugian rosot nilai diiktiraf dalam lain-lain pendapatan komprehensif.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 195
4. POLISI PERAKAUNAN PENTING (SAMB)
(i) Rosot Nilai (Samb)
(ii) Rosot Nilai Aset Bukan Kewangan
Nilai dibawa aset, selain daripada yang mana FRS 136 – Rosot nilai Aset tidak terpakai, disemak pada akhir tempohpelaporan bagi rosot nilai apabila terdapat petunjuk bahawa aset mungkin merosot. Kemerosotan diukur denganmembandingkan nilai dibawa aset dengan jumlah boleh diperolehi semulanya. Jumlah boleh diperolehi semula asetadalah nilai saksama tolak kos jual dan nilai dalam penggunaannya yang mana lebih tinggi, yang diukur denganmerujuk kepada aliran tunai masa hadapan didiskaunkan.
Kerugian rosot nilai diiktiraf dalam keuntungan atau kerugian dengan serta-merta.
Berhubung dengan aset selain daripada muhibah, dan apabila terdapat perubahan dalam anggaran digunakan untukmenentukan jumlah boleh diperolehi semula, peningkatan ketara dalam jumlah boleh diperolehi semula aset dianggapsebagai keterbalikan daripada kerugian rosot nilai sebelum ini dan diiktiraf sehingga tahap jumlah dibawa aset yangmungkin telah ditentukan (tolak pelunasan dan susut nilai) sekiranya tiada kerugian rosot nilai telah diiktiraf. Keterbalikandiiktiraf dalam keuntungan atau kerugian dengan serta-merta.
(j) Pajakan Kendalian
Pajakan aset di mana bahagian ketara daripada risiko dan ganjaran pemilikan dikekalkan oleh pemajak dikelaskan sebagaipajakan kendalian. Bayaran dibuat di bawah pajakan kendalian (tolak sebarang insentif diterima daripada pemajak) diiktirafdalam keuntungan atau kerugian atas dasar garisan lurus sepanjang tempoh pajakan. Apabila pajakan kendalian ditamatkansebelum tempoh pajakan telah luput, sebarang bayaran diperlukan untuk dibuat kepada pemajak melalui penalti diiktirafsebagai perbelanjaan dalam tempoh dalam mana penamatan berlaku.
(k) Aset di bawah Sewa Beli
Aset dibeli di bawah sewa beli dipermodalkan dalam penyata kewangan dan disusutnilaikan selaras dengan polisi yangdikemukakan dalam Nota 4(h) di atas. Setiap bayaran sewa beli diperuntukkan antara liabiliti dan caj kewangan untukmencapai kadar berkala yang tetap ke atas baki kewangan yang belum dijelas. Caj kewangan diiktiraf dalam keuntunganatau kerugian sepanjang tempoh-tempoh perjanjian sewa beli masing-masing.
(l) Inventori
Inventori dinyatakan pada kos dan nilai boleh direalis bersih yang mana lebih rendah. Kos ditentukan atas dasar masukdahulu, keluar dahulu, dan terdiri daripada harga pembelian dan perbelanjaan sampingan yang ditanggung dalam membawamasuk inventori ke kawasan dan keadaan semasanya.
Nilai boleh direalis bersih mewakili anggaran harga jualan tolak anggaran kos penyiapan dan anggaran kos diperlukanuntuk membuat jualan.
Di mana perlu, peruntukan sewajarnya dibuat bagi semua perkara lapuk, rosak dan bergerak perlahan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
196 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(m) Jumlah Terhutang Oleh/Kepada Pelanggan Kontrak
Jumlah terhutang oleh/ kepada pelanggan kontrak dinyatakan pada kos campur keuntungan boleh diagih kepada kontrakdalam pelaksanaan tolak bil progres dan peruntukan bagi kerugian boleh diramal, sekiranya ada. Kos termasuk bahanlangsung, buruh dan overhed berkenaan.
(n) Peruntukan
Peruntukan diiktiraf apabila Kumpulan mempunyai obligasi semasa akibat daripada peristiwa lepas, apabila iaberkemungkinan bahawa aliran keluar sumber yang membentuk manfaat ekonomi akan diperlukan untuk menyelesaikanobligasi, dan apabila anggaran boleh dipercayai mengenai jumlah boleh dibuat. Peruntukan disemak pada akhir setiaptempoh pelaporan dan diselaraskan untuk menunjukkan anggaran terbaik. Di mana nilai kesan masa wang adalah material,peruntukan adalah nilai semasa anggaran perbelanjaan yang diperlukan untuk menyelesaikan obligasi.
(o) Cukai Pendapatan
Cukai pendapatan bagi tahun terdiri daripada cukai semasa dan cukai tertunda.
Cukai semasa adalah jumlah dijangka cukai pendapatan perlu dibayar berhubung dengan keuntungan boleh dicukai bagitahun dan diukur dengan menggunakan kadar cukai yang telah digubal atau sebahagian besarnya digubal pada akhirtempoh pelaporan.
Cukai tertunda diperuntukkan sepenuhnya, dengan menggunakan kaedah liabiliti, ke atas semua perbezaan sementara timbulantara asas cukai aset dan liabiliti dan jumlah penyimpanannya dalam penyata kewangan.
Liabiliti cukai tertunda diiktiraf bagi semua perbezaan sementara boleh dicukai selain daripada yang timbul daripada muhibahatau lebihan kepentingan syarikat mengambil alih dalam nilai saksama bersih aset, liabiliti dan liabiliti luar jangkaan syarikatdiambil alih yang boleh dikenal pasti ke atas kos kombinasi perniagaan atau daripada pengiktirafan awal aset atau liabilitidalam urus niaga yang bukan merupakan kombinasi perniagaan dan pada masa urus niaga, tidak menjejaskan keuntunganperakaunan mahupun keuntungan boleh dicukai.
Aset cukai tertunda diiktiraf bagi semua perbezaan sementara boleh ditolak, kerugian cukai tidak diguna dan kredit cukai tidakdiguna sehingga tahap yang ia berkemungkinan bahawa keuntungan boleh dicukai masa hadapan akan tersedia terhadapmana perbezaan sementara boleh ditolak, kerugian cukai tidak diguna dan kredit cukai tidak diguna boleh digunakan. Jumlahpenyimpanan aset cukai tertunda disemak pada akhir setiap tempoh pelaporan dan dikurangkan sehingga tahap yang ia tidaklagi berkemungkinan bahawa keuntungan boleh dicukai masa hadapan yang mencukupi akan tersedia untuk membolehkansemua atau sebahagian aset cukai tertunda akan digunakan.
Aset dan liabiliti cukai tertunda diukur pada kadar cukai yang dijangka akan terpakai dalam tempoh apabila aset direalisatau liabiliti diselesaikan, berdasarkan kadar cukai yang telah digubal atau sebahagian besarnya digubal pada akhirtempoh pelaporan.
Aset dan liabiliti cukai tertunda diseimbangkan apabila terdapat hak boleh dikuatkuasakan secara sah untuk menolak asetcukai semasa terhadap liabiliti cukai tertunda dan apabila cukai pendapatan tertunda berkait dengan pihak berkuasa cukaiyang sama.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 197
4. POLISI PERAKAUNAN PENTING (SAMB)
(o) Cukai Pendapatan (Samb)
Cukai tertunda berkaitan dengan perkara diiktiraf di luar keuntungan atau kerugian diiktiraf di luar keuntungan atau kerugian.Perkara cukai tertunda diiktiraf berhubung kait dengan urus niaga mendasari sama ada dalam lain-lain pendapatankomprehensif atau secara langsung dalam ekuiti dan cukai tertunda timbul daripada kombinasi perniagaan dimasukkandalam muhibah terhasil atau lebihan daripada kepentingan syarikat mengambil alih dalam nilai saksama bersih aset, liabilitidan liabiliti luar jangka dikenal pasti syarikat diambil alih ke atas kos kombinasi perniagaan.
(p) Tunai dan Setara Tunai
Tunai dan setara tunai terdiri daripada tunai dalam tangan, baki bank, deposit tuntutan, deposit disandarkan kepada institusikewangan, overdraf bank dan pelaburan jangka pendek, amat mudah tunai yang sedia boleh ditukar kepada jumlah tunaidiketahui dan yang tertakluk kepada risiko tidak ketara perubahan dalam nilai. Untuk tujuan penyata aliran tunai, tunai dansetara tunai dibentangkan tolak deposit disandarkan.
(q) Manfaat Kakitangan
(i) Manfaat Jangka Pendek
Upah, gaji, cuti tahunan berbayar, cuti sakit, bonus dan manfaat bukan monetari adalah diakrukan dalam tempoh dalammana perkhidmatan berkaitan diberikan oleh kakitangan Kumpulan.
(ii) Pelan Caruman Dinyatakan
Caruman Kumpulan kepada pelan caruman dinyatakan diiktiraf dalam keuntungan atau kerugian dalam tempoh dalammana ia berkait. Sebaik sahaja caruman telah dibayar, Kumpulan tidak mempunyai liabiliti selanjutnya berhubungdengan pelan caruman dinyatakan.
(r) Kos Pinjaman
Kos pinjaman, secara langsung boleh dikaitkan kepada pembelian dan pembinaan hartanah, loji dan peralatandipermodalkan sebagai sebahagian daripada kos aset-aset tersebut, sehingga masa tertentu apabila aset sedia untukkegunaan atau jualannya yang dihasratkan. Permodalan kos pinjaman digantung dalam tempoh-tempoh dilanjutkan dalammana pembangunan aktif terganggu.
Semua kos pinjaman lain diiktiraf dalam keuntungan atau kerugian sebagai perbelanjaan dalam tempoh di mana ia ditanggung.
(s) Liabiliti Luar Jangka
Liabiliti luar jangka adalah obligasi yang mungkin timbul daripada peristiwa-peristiwa lepas dan yang kewujudannya hanyaboleh disahkan apabila berlakunya satu atau lebih peristiwa masa hadapan tidak pasti yang bukan secara keseluruhannyadalam kawalan Kumpulan. Ia juga merupakan obligasi semasa timbul daripada peristiwa lepas yang tidak diiktiraf disebabkania tidak berkemungkinan bahawa aliran keluar sumber ekonomi akan diperlukan atau jumlah obligasi tidak boleh diukurdengan betul.
Liabiliti luar jangka tidak diiktiraf tetapi dinyatakan dalam nota-nota kepada penyata kewangan. Apabila perubahan dalamkemungkinan aliran keluar berlaku menjadikan aliran keluar sebagai mungkin berlaku, ia kemudiannya akan diiktiraf sebagailiabiliti/peruntukan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
198 Petra Perdana Berhad
4. POLISI PERAKAUNAN PENTING (SAMB)
(t) Pihak Berkaitan
Pihak berkaitan adalah berkait kepada entiti:
(i) secara langsung, atau tidak langsung melalui satu atau lebih perantara, pihak yang:• mengawal, dikawal oleh, atau di bawah kawalan bersama dengan, entiti (ini termasuk syarikat induk, anak-anak
syarikat dan anak-anak syarikat bersama);• mempunyai kepentingan dalam entiti yang memberikannya pengaruh penting ke atas entiti; atau• mempunyai kawalan bersama ke atas entiti;
(ii) pihak adalah syarikat bersekutu entiti;(iii) pihak adalah sebuah usaha sama dalam mana entiti adalah pengusaha;(iv) pihak adalah ahli personel pengurusan penting entiti atau syarikat induknya;(v) pihak adalah ahli keluarga terdekat mana-mana individu yang dirujuk dalam (i) atau (iv);(vi) pihak adalah entiti yang dikawal, secara bersama dikawal atau secara ketara dipengaruhi oleh, atau untuk yang mana
kuasa mengundi ketara dalam entiti sedemikian terletak, secara langsung atau tidak langsung, dengan mana-manaindividu yang dirujuk dalam (iv) atau (v); atau
(vii) pihak adalah ahli pelan manfaat selepas pekerjaan bagi manfaat kakitangan entiti, atau mana-mana entiti yangmerupakan pihak berkaitan entiti.
Ahli-ahli keluarga terdekat individu yang merupakan ahli keluarga yang mungkin dijangka akan mempengaruhi, atau akandipengaruhi oleh, individu tersebut dalam urus niaga mereka dengan entiti.
(u) Segmen Beroperasi
Segmen beroperasi adalah komponen Kumpulan yang terlibat dalam kegiatan perniagaan daripada yang mana ia mungkinperolehi hasil dan menanggung perbelanjaan, termasuk hasil dan perbelanjaan yang berkait dengan urus niaga denganmana-mana komponen Kumpulan yang lain. Keputusan kendalian segmen beroperasi disemak secara kerap oleh ketuapembuat keputusan untuk membuat keputusan mengenai sumber-sumber yang akan diperuntukkan kepada segmen danmenilai prestasinya, dan untuk yang mana maklumat kewangan berasingan tersedia.
(v) Pengiktirafan Hasil
(i) Pendapatan Kapal Dicarter
Pendapatan kapal dicarter diiktiraf selepas memberikan perkhidmatan dan apabila keputusan urus niaga bolehdianggarkan dengan betul. Jika sekiranya keputusan urus niaga tidak boleh dianggarkan dengan betul, hasil diiktirafsehingga tahap perbelanjaan ditanggung boleh diperolehi semula.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 199
4. POLISI PERAKAUNAN PENTING (SAMB)
(v) Pengiktirafan Hasil (Samb)
(ii) Hasil Kontrak
Hasil ke atas kontrak diiktiraf atas peratusan daripada kaedah penyiapan melainkan keputusan kontrak tidak bolehditentukan dengan betul, dalam hal mana hasil ke atas kontrak hanya diiktiraf sehingga tahap kos kontrak ditanggungyang boleh diperolehi semula. Kerugian boleh diramal, sekiranya ada, diperuntukkan sepenuhnya bila dan apabila iaboleh dipastikan secara munasabah bahawa kontrak akan berakhir dengan kerugian.
Tahap penyiapan ditentukan berdasarkan perkadaran yang kos kontrak tanggung bagi kerja dilaksanakan sehingga kiniberbanding jumlah kos kontrak yang dianggarkan.
(iii) Pendapatan dividen
Pendapatan dividen daripada pelaburan diiktiraf apabila hak untuk menerima bayaran dividen dibuktikan.
(iv) Yuran Pengurusan
Yuran pengurusan diiktiraf atas dasar akruan.
(v) Pendapatan Sewa
Pendapatan sewa diiktiraf atas dasar akruan.
(vi) Pendapatan faedah
Pendapatan faedah diiktiraf atas dasar akruan, berdasarkan kadar hasil berkesan ke atas pelaburan. Pendapatan faedahke atas pembayaran lewat diiktiraf berasaskan penerimaan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
200 Petra Perdana Berhad
5. PELABURAN DALAM ANAK-ANAK SYARIKATSyarikat
2010 2009RM'000 RM'000
Saham tidak disebut harga, pada kos:– dalam Malaysia 285,574 285,519– luar Malaysia 21,897 21,897
307,471 307,416Tolak: Kerugian rosot nilai (10) (10)
307,461 307,406
Butir-butir mengenai anak-anak syarikat adalah seperti berikut:Kepentingan Ekuiti
Negara BerkesanNama Syarikat Pemerbadanan 2010 2009 Kegiatan Utama
% %
Intra Oil Services Berhad Malaysia 100 100 Penyediaan perkhidmatansokongan marin bagiindustri minyak dan gas.
Ampangship Marine Sdn Bhd Malaysia 100 100 Penyediaan perkhidmatansokongan marin bagiindustri minyak dan gas.
Perdana Marine * Republik Singapura 100 100 Penyediaan perkhidmatanOffshore Pte Ltd sokongan marin bagi
industri minyak dan gas.
Petra Offshore Limited Wilayah 100 100 Penyediaan perniagaanPersekutuan Labuan pemajakan di Labuan.
Perdana Mercury Limited Republik Marshall Islands 100 100 Penyediaan perkhidmatansokongan marin bagiindustri minyak dan gas.
Perdana Venus Limited Republik Marshall Islands 100 100 Penyediaan perkhidmatansokongan marin bagiindustri minyak dan gas.
Petra Marine Australia Komanwel Australia 55 55 Penyediaan perkhidmatanPty Ltd sokongan marin bagi
industri minyak dan gas.
Perdana Jupiter Limited Wilayah 100 100 Penyediaan perkhidmatanPersekutuan Labuan sokongan marin bagi
industri minyak dan gas.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 201
5. PELABURAN DALAM ANAK-ANAK SYARIKAT (SAMB)
Kepentingan EkuitiNegara Berkesan
Nama Syarikat Pemerbadanan 2010 2009 Kegiatan Utama% %
Odin Explorer The British 100 100 Lengai.Navigation Limited Virgin Islands
Geoseas Technologies The British 51 51 Lengai.Limited Virgin Islands
Petra Teknik Sdn Bhd Malaysia 100 100 Lengai.
Petra Asia Limited Wilayah 100 100 Lengai.Persekutuan Labuan
Perdana Neptune Wilayah 100 100 Lengai.Limited Persekutuan Labuan
Perdana Pluto Limited* Wilayah 100 100 Lengai.Persekutuan Labuan
Perdana Saturn Limited* Wilayah 100 100 Lengai.Persekutuan Labuan
Perdana Nautika Malaysia 55 – Lengai.Sdn. Bhd.
Kepentingan dipegang melalui Intra Oil Services Berhad
Osam Marine Sdn Bhd Malaysia 100 100 Lengai.
Asiaway Sdn Bhd Malaysia 100 100 Lengai.
Kepentingan dipegang melalui Osam Marine Sdn Bhd
Malawi Marine Sdn Bhd Malaysia 100 100 Lengai.
Kovan Marine Sdn Bhd Malaysia 100 100 Lengai.
* Tidak diaudit oleh Tetuan. Crowe Horwath.
Dalam tahun kewangan, Syarikat telah menggabungkan anak syarikat baru yang mana butir-butir dinyatakan dalam Nota 34kepada penyata kewangan.
Dalam tahun kewangan sebelumnya:
(a) Syarikat mengambil alih empat (4) anak syarikat yang baru diperbadankan yang mana butir-butir dinyatakan dalam Nota34 kepada penyata kewangan; dan
(b) Syarikat melupuskan pemegangan sahamnya dalam Petra Energy Berhad (“PEB”) yang menyebabkan pemegangan sahamSyarikat berkurangan daripada 60% kepada 29.59%. Butir-butir mengenai pelupusan dinyatakan dalam Nota 6 dan Nota35 kepada penyata kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
202 Petra Perdana Berhad
6. PELABURAN DALAM SYARIKAT BERSEKUTU
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Saham disebut harga di Malaysia, pada kos 19,233 19,233 19,233 19,233
Bahagian keuntungan selepas pengambilalihan 68,702 71,086 – –
Bahagian kesan kewangan syarikat bersekutudalam menerima pakai FRS 139 485 – – –
88,420 90,319 19,233 19,233
Nilai pasaran saham disebut harga 89,435 95,205 89,435 95,205
Bahagian keputusan dalam syarikat bersekutu adalah berdasarkan penyata kewangan tidak diaudit syarikat bersekutu.
Butir-butir mengenai syarikat bersekutu adalah seperti berikut:
Kepentingan EkuitiNegara Berkesan
Nama Syarikat Pemerbadanan 2010 2009 Kegiatan Utama% %
Petra Energy Berhad Malaysia 29.59 29.59 Pemegangan pelaburan.
Pada 10 September 2009, Syarikat melupuskan 10.5 juta saham biasa bernilai RM0.50 sesaham dalam Petra Energy Berhad(“PEB”) pada harga RM1.53 setiap saham melalui penempatan persendirian. Agregat balasan jualan berjumlah lebih kurangRM16.1 juta, mengakibatkan kerugian atas pelupusan sebanyak lebih kurang RM0.6 juta kepada Kumpulan. Selepas pelupusan,kepentingan ekuiti Syarikat dalam PEB berkurangan daripada 60% kepada 54.62%.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 203
6. PELABURAN DALAM SYARIKAT BERSEKUTU (SAMB)
Pada 11 Disember 2009, Syarikat melupuskan tambahan 48.8 juta saham biasa bernilai RM0.50 sesaham dalam PEB pada hargaRM1.91 setiap saham bagi balasan jualan sebanyak lebih kurang RM93.2 juta, mengakibatkan keuntungan atas pelupusansebanyak lebih kurang RM13.3 juta kepada Kumpulan. Akibat daripada pelupusan, kepentingan ekuiti Syarikat dalam PEBberkurangan selanjutnya daripada 54.62% kepada 29.59%. Akibat daripada itu, PEB menjadi syarikat bersekutu Syarikat.
Ringkasan maklumat kewangan tidak diaudit syarikat bersekutu adalah seperti berikut:
2010 2009RM'000 RM'000
Aset dan liabilitiAset bukan semasa 354,225 369,073Aset semasa 355,581 344,327
Jumlah aset 709,806 713,400
Liabiliti semasa 265,530 271,344Liabiliti bukan semasa 137,263 136,423
Jumlah liabiliti 402,793 407,767
KeputusanHasil 633,935 504,141Keuntungan bersih bagi tahun kewangan 2,681 15,482
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
204 Petra Perdana Berhad
7. HARTANAH, LOJI DAN PERALATAN
Perbezaan KerugianPada Dihapus Terjemahan Caj Rosot Pada
1.1.2010 Tambahan Pelupusan Kira Pembatalan Pemindahan Mata Wang Susut Nilai Nilai 31.12.2010RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM’000 RM’000 RM’000 RM’000
Kumpulan
Nilai Buku Bersih
Kapal 220,995 3,151 (138,510) – – 200,785 (13,847) (19,144) – 253,430Peralatan kapal 12,230 3,794 – – – 10,795 (1,961) (2,173) – 22,685Limbungan kering 38,615 6,757 – – – – (3,583) (13,598) (2,982) 25,209Bangunan pegangan pajak 1,702 – – – – – – (37) – 1,665Peralatan kabin, medan dan
bengkel kerja 112 – – (9) – – – (18) – 85Kenderaan bermotor 113 430 – – – – (2) (76) – 465Peralatan, perabot dan
kelengkapan pejabat 2,835 306 (5) – – – (3) (733) – 2,400Modal kerja dalam
pelaksanaan 183,094 176,621 (8,256) – (30,385) (211,580) (15,333) – – 94,161Lain-lain 1,002 286 – – – – (6) (448) – 834
460,698 191,345 (146,771) (9) (30,385) – (34,735) (36,227) (2,982) 400,934
DikelaskanPelupusan SemulaKepentingan Kepada Aset
Dalam Bukan SemasaAnak Pengambilalihan Dipegang Untuk Perbezaan
Pada Syarikat Anak Jualan Terjemahan Caj Pada1.1.2009 Tambahan Pelupusan Pemindahan (Nota 35) Syarikat (Nota 17) Mata Wang Susut Nilai 31.12.2009RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM’000 RM’000 RM’000 RM’000
Kumpulan
Nilai Buku Bersih
Kapal 303,632 124,234 (318,351) 452,921 (228,928) – (86,361) (1,717) (24,435) 220,995Peralatan kapal 11,325 4,521 (2,486) – – – – (240) (890) 12,230Limbungan kering 29,622 38,687 – – (14,598) – – (727) (14,369) 38,615Bangunan pegangan pajak 6,362 – – – (4,485) – – – (175) 1,702Loji dan mesin 3,495 101 (10) – (2,827) – – – (759) –Peralatan kabin, medan dan
bengkel kerja 8,393 3,417 – – (6,212) – – 16 (5,502) 112Kenderaan bermotor 1,650 132 – – (1,124) 31 – 2 (578) 113Peralatan, perabot dan
kelengkapan pejabat 1,367 2,941 (14) – (964) 300 – 4 (799) 2,835Modal kerja dalam
pelaksanaan 289,899 354,755 – (452,921) – – – (8,639) – 183,094Lain-lain 3,323 617 (116) – (1,591) 214 – 4 (1,449) 1,002
659,068 529,405 (320,977) – (260,729) 545 (86,361) (11,297) (48,956) 460,698
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 205
7. HARTANAH, LOJI DAN PERALATAN (SAMB)
KerugianPada Susut Nilai Rosot Nilai BukuKos Terkumpul Nilai Bersih
Kumpulan RM'000 RM'000 RM’000 RM'000
Pada 31.12.2010
Kapal 337,729 (84,299) – 253,430Peralatan Kapal 25,833 (3,148) – 22,685Limbungan Kering 64,416 (36,225) (2,982) 25,209Bangunan Pegangan Pajak 1,860 (195) – 1,665Loji Dan Mesin 10 (10) – –Peralatan Kabin, Medan Dan Bengkel Kerja 148 (63) – 85Kenderaan Bermotor 745 (280) – 465Peralatan, Perabot Dan Kelengkapan Pejabat 4,161 (1,761) – 2,400Modal Kerja Dalam Pelaksanaan 94,161 – – 94,161Lain-Lain 3,215 (2,381) – 834
532,278 (128,362) (2,982) 400,934
Pada 31.12.2009
Kapal 292,299 (71,304) – 220,995Peralatan kapal 13,379 (1,149) – 12,230Limbungan kering 67,625 (29,010) – 38,615Bangunan pegangan pajak 1,860 (158) – 1,702Loji dan mesin 10 (10) – –Peralatan kabin, medan dan bengkel kerja 159 (47) – 112Kenderaan bermotor 318 (205) – 113Peralatan, perabot dan kelengkapan pejabat 3,872 (1,037) – 2,835Modal kerja dalam pelaksanaan 183,094 – – 183,094Lain-lain 2,942 (1,940) – 1,002
565,558 (104,860) – 460,698
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
206 Petra Perdana Berhad
7. HARTANAH, LOJI DAN PERALATAN (SAMB)
Pada Caj Pada1.1.2010 Tambahan Pelupusan Susut Nilai 31.12.2010RM'000 RM'000 RM'000 RM'000 RM'000
Syarikat
Nilai Buku Bersih
Bangunan pegangan pajak 1,702 – – (37) 1,665Kenderaan bermotor – 430 – (50) 380Peralatan, perabot dan
kelengkapan pejabat 188 76 – (83) 181Modal kerja dalam pelaksanaan 6,045 6,228 (8,409) – 3,864Lain-lain 602 104 – (275) 431
8,537 6,838 (8,409) (445) 6,521
Pada Caj Pada1.1.2009 Tambahan Pemindahan Susut Nilai 31.12.2009RM'000 RM'000 RM'000 RM'000 RM'000
Nilai Buku Bersih
Bangunan pegangan pajak 1,739 – – (37) 1,702Peralatan, perabot dan
kelengkapan pejabat 267 6 – (85) 188Modal kerja dalam pelaksanaan 40,141 2,873 (36,969) – 6,045Lain-lain 894 10 1 (303) 602
43,041 2,889 (36,968) (425) 8,537
Pada Susut Nilai Nilai BukuKos Terkumpul Bersih
RM'000 RM'000 RM'000Pada 31.12.2010
Bangunan pegangan pajak 1,860 (195) 1,665Kenderaan bermotor 430 (50) 380Peralatan, perabot dan kelengkapan pejabat 554 (373) 181Modal kerja dalam pelaksanaan 3,864 – 3,864Lain-lain 1,755 (1,324) 431
8,463 (1,942) 6,521Syarikat
Pada 31.12.2009
Bangunan Pegangan Pajak 1,860 (158) 1,702Peralatan, Perabot Dan Kelengkapan Pejabat 478 (290) 188Modal Kerja Dalam Pelaksanaan 6,045 – 6,045Lain-lain 1,651 (1,049) 602
10,034 (1,497) 8,537
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 207
7. HARTANAH, LOJI DAN PERALATAN (SAMB)
Modal kerja dalam pelaksanaan adalah berhubung dengan kapal dalam pembinaan dan kren belum bersedia untuk kegunaankomersial pada akhir tempoh pelaporan.
Dalam tahun kewangan sebelumnya, Syarikat memindahkan kren yang belum bersedia untuk kegunaan komersial kepada anak-anak syarikatnya pada nilai buku saksamanya.
Dalam tahun kewangan, Kumpulan telah membatalkan kapal dalam pembinaan berjumlah RM30,385,261.
Termasuk dalam nilai buku bersih hartanah, loji dan peralatan pada akhir tempoh pelaporan adalah aset-aset berikut yang dibelidi bawah terma-terma sewa beli:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Kenderaan bermotor 465 113 380 –
Termasuk dalam modal kerja dalam pelaksanaan adalah perbelanjaan faedah dipermodalkan dalam tahun kewangan sebanyakRM658,160 (2009 – RM4,738,997).
Nilai buku bersih hartanah, loji dan peralatan pada akhir tempoh pelaporan yang disandarkan sebagai cagaran bagi penerbitanbon dan nota berjangka sederhana adalah seperti berikut:
Syarikat2010 2009RM'000 RM'000
Kapal, termasuk perbelanjaan limbungan kering dipermodalkan 167,423 208,580
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
208 Petra Perdana Berhad
8. JUMLAH TERHUTANG OLEH/(KEPADA) ANAK-ANAK SYARIKAT
Syarikat2010 2009RM'000 RM'000
Jumlah terhutang oleh:Bukan semasaKuasa Pinjaman (a) 400,949 353,576
SemasaBukan perdagangan (b) 4,333 4,084Peruntukan bagi kerugian rosot nilai:– pada 1 Januari (4,057) (5,001)– Tambahan (5) –– kemasukan kira semula – 944
– pada 31 Disember (4,062) (4,057)
271 27
401,220 353,603
Jumlah terhutang kepada:SemasaBukan perdagangan (b) (123,839) (95,862)
(a) Penyelesaian jumlah bukan semasa terhutang oleh anak-anak syarikat adalah tidak dirancang tidak juga berkemungkinanakan berlaku pada masa hadapan boleh dijangka. Memandangkan jumlah ini, pada dasarnya, merupakan sebahagiandaripada pelaburan bersih Syarikat dalam anak syarikat, ianya dinyatakan pada kos tolak kerugian rosot nilai terkumpul.
(b) Jumlah terhutang oleh/ (kepada) anak-anak syarikat bersifat bukan dagangan, tanpa faedah, tidak bercagar dan perludibayar balik atas tuntutan. Jumlah akan diselesaikan secara tunai.
9. DEPOSIT BOLEH DIKEMBALIKAN
Deposit ditempatkan dengan pemilik-pemilik kapal bagi pajakan kapal jangka panjang bagi tempoh-tempoh berkisar dari lima (5)hingga sepuluh (10) tahun.
Selepas penerimaan pakai FRS 139 dalam tahun kewangan, Kumpulan menetapkan deposit boleh dikembalikan bukansemasanya sebagai aset kewangan pinjaman dan penghutang, diukur pada kos dilunaskan dengan menggunakan kaedahfaedah berkesan. Kesan kewangan ke atas penerimaan pakai piawaian perakaunan baru ini dinyatakan dalam Nota 3(a)(iii)kepada penyata kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 209
10. ASET TIDAK KETARA
Kumpulan2010 2009RM'000 RM'000
Muhibah:Pada 1 Januari 27,507 27,507Pengambilalihan kepentingan tambahan dalam anak syarikat – 1,434Pelupusan kepentingan dalam anak syarikat (Nota 35) – (1,434)
Pada 31 Disember 27,507 27,507
Muhibah telah diperuntukkan bagi pengujian rosot nilai kepada unit penghasilan tunai Kumpulan (“CGU”).
Pada akhir tempoh pelaporan, Kumpulan menilai amaun muhibah yang boleh diperoleh semula, dan menentukan bahawa tiadarosot nilai muhibah.
Jumlah yang boleh diperolehi semula CGU ditentukan berdasarkan pengiraan nilai dalam penggunaan. Pengiraan ini menggunakanunjuran aliran tunai selepas cukai berdasarkan bajet kewangan yang diluluskan oleh pengurusan meliputi tempoh lima (5) tahun.
Andaian-andaian utama yang digunakan bagi pengiraan nilai dalam penggunaan adalah seperti berikut:
2010 2009
Margin kasar 6% – 44% 8% – 50%Kadar pertumbuhan 1% 1% – 5%Kadar diskaun 11% 11%
Pengurusan menentukan margin kasar dibajet berdasarkan prestasi lepas dan jangkaannya ke atas pembangunan pasaran. Kadarpertumbuhan digunakan adalah berdasarkan pencapaian tahun-tahun lepas dan kontrak-kontrak yang dijangka akan diperolehi.Kadar diskaun digunakan adalah pracukai dan menunjukkan risiko-risiko khusus berkaitan dengan segmen-segmen berkenaan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
210 Petra Perdana Berhad
11. ASET CUKAI TERTUNDA
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Pada 1 Januari 46 62 46 46Pelupusan kepentingan dalam anak
syarikat (Nota 35) – (16) – –
Pada 31 Disember 46 46 46 46
Aset cukai tertunda terdiri daripada:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Lebihan susut nilai ke atas elaun modal 46 46 46 46
12. INVENTORI
Kumpulan2010 2009RM'000 RM'000
Barangan pakai habis, pada kos 6,908 5,533
Inventori mewakili bahan api, pelbagai minyak, alat ganti dan kad panggilan. Tidak ada inventori dinyatakan pada nilai bolehdirealis bersih.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 211
13. PENGHUTANG
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Penghutang perdagangan 46,316 247,010 – –Peruntukan bagi
kerugian rosot nilai:– pada 1 Januari (297) (9,770) – –– kemasukan kira semula – 555 – –– pelupusan kepentingan
dalam anak syarikat 35 – 8,918 – –
– pada 31 Disember (297) (297) – –
46,019 246,713 – –Pelupusan kepentingan dalam
anak syarikat 35 – (200,444) – –
Penghutang perdagangan bersih 46,019 46,269 – –
Lain-lain penghutang,deposit dan prabayaran 55,166 129,066 1,740 15,104
Peruntukan bagi kerugiankerugian rosot nilai:– Pada 1 Januari (1,572) (1,826) – –– tambahan (320) – – –– pelupusan kepentingan
dalam anak syarikat 35 – 254 – –
– pada 31 Disember (1,892) (1,572) – –
53,274 127,494 – –Pelupusan kepentingan dalam
anak syarikat 35 – (75,936) – –
Lain-lain penghutang depositdan prabayaran bersih 53,274 51,558 1,740 15,104
99,293 97,827 1,740 15,104
Tempoh kredit perdagangan biasa Kumpulan berkisar dari 30 hingga 90 hari. Lain-lain tempoh kredit dinilai dan diluluskan atasdasar kes demi kes.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
212 Petra Perdana Berhad
14. JUMLAH TERHUTANG OLEH/(KEPADA) PIHAK-PIHAK BERKAITAN
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Jumlah terhutang oleh:Baki perdagangan 30,798 29,887 – –Peruntukan bagi kerugian rosot nilai:– pada 1 Januari – – – –– tambahan (1,899) – – –
– pada 31 Disember (1,899) – – –
28,899 29,887 – –
Baki bukan perdagangan 10,516 8,307 259 259Peruntukan bagi kerugian rosot nilai:– pada 1 Januari – – – –– tambahan (2,801) – – –
– pada 31 Disember (2,801) – – –
7,715 8,307 259 259
36,614 38,194 259 259
Jumlah terhutang kepada:Baki bukan perdagangan (33) (236) (32) (3)
Tempoh kredit biasa bagi jumlah dagangan berkisar di antara 60 hingga 90 hari.
Jumlah bukan dagangan adalah tidak bercagar, tanpa faedah dan perlu dibayar balik atas tuntutan. Jumlah terhutang akandiselesaikan secara tunai.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 213
15. JUMLAH TERHUTANG OLEH/(KEPADA) SYARIKAT BERSEKUTU
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Jumlah terhutang oleh:Semasa – 51,649 – 51,649
Jumlah terhutang kepada:Semasa – (1,975) – (1,975)
Dalam tahun kewangan lepas, jumlah terhutang oleh syarikat bersekutu bersifat bukan perdagangan, tidak bercagar dan tertaklukkepada kadar faedah sebanyak 7.5% (2009 – 7.5%) setahun. Jumlah terhutang telah dijelaskan sepenuhnya dalam tahun kewangan.
Dalam tahun kewangan lepas, jumlah terhutang kepada syarikat berkaitan bersifat bukan perdagangan, tidak bercagar dan tanpafaedah. Jumlah telah dijelaskan sepenuhnya dalam tahun kewangan.
16. DEPOSIT TETAP DENGAN BANK BERLESEN
Deposit tetap disandarkan kepada bank bagi kemudahan perbankan diberikan kepada Kumpulan adalah seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Deposit tetap disandarkansebagai cagaran (Nota 37) 31,538 144,306 29,060 144,306
Kadar faedah berkesan deposit tetap pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009% % % %
0.02 0.47 1.35 1.35hingga hingga hingga hingga
Deposit tetap dengan bank berlesen 2.75 2.25 2.75 2.25
Deposit tetap mempunyai tempoh kematangan berkisar antara 1 hari hingga 182 hari (2009 – 1 hari hingga 182 hari).
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
214 Petra Perdana Berhad
17. ASET BUKAN SEMASA DIKELASKAN SEMULA BAGAI DIPEGANG UNTUK JUALAN
Syarikat2010 2009RM'000 RM'000
Dikelaskan semula daripada hartanah, loji dan peralatan:Kapal, pada kos – 86,361
Jualan kapal selesai dilaksanakan dalam tahun kewangan.
Termasuk dalam kos kapal dalam tahun kewangan lepas adalah pengeluaran bunga dikapitalisasikan berjumlah RM425,286.
18. MODAL SAHAM
Kumpulan/Syarikat2010 2009 2010 2009
Bilangan Saham (‘000) RM'000 RM'000Saham Biasa Bernilai
RM0.50 Sesaham:
Dibenarkan 1,000,000 1,000,000 500,000 500,000
Diterbitkan Dan Berbayar PenuhPada 1 Januari 297,600 297,600 148,800 148,800Penempatan persendirian 29,760 – 14,880 –Terbitan hak 122,760 – 61,380 –
Pada 31 Disember 450,120 297,600 225,060 148,800
Dalam tahun kewangan, Syarikat menambah modal sahamnya yang diterbitkan dan berbayar daripada RM148,800,000 kepadaRM225,060,000 melalui:
(i) penerbitan 29,760,000 saham biasa baru bernilai RM0.50 sesaham secara tunai untuk tujuan bayaran deposit carter dankegunaan modal kerja selaras dengan penempatan persendirian Syarikat pada harga langganan RM1.32 setiap saham pada30 Jun 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Malaysia SecuritiesBerhad (“Bursa Securities”) pada 2 Julai 2010; dan
(ii) penerbitan 122,760,000 saham biasa baru bernilai RM0.50 sesaham secara tunai untuk tujuan bayaran balik pinjamandan kegunaan modal kerja selaras dengan terbitan hak boleh lepas Syarikat bersama dengan waran boleh lepas percuma(“Terbitan Hak”) berasaskan tiga (3) saham hak (“Saham-saham Hak”) bagi setiap lapan (8) saham biasa sedia ada bernilaiRM0.50 sesaham dipegang dalam Syarikat bersama dengan 61,379,785 waran boleh lepas percuma (“Waran”)berasaskan satu (1) Waran bagi setiap dua (2) Saham hak yang dilanggan pada harga terbitan RM0.59 setiap Saham Hakpada 27 Oktober 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securitiespada 1 November 2010.
Saham-saham biasa baru diterbitkan dalam tahun kewangan bertaraf pari passu dalam semua hubungan dengan saham-sahambiasa sedia ada Syarikat.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 215
19. RIZAB
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Tidak boleh diagih:Premium saham 82,892 60,377 82,892 60,377Rizab waran (Nota 20) 11,048 – 11,048 –Rizab penebusan modal – 2,127 – –Rizab terjemahan (56,579) 56 – –Rizab lindungan nilai aliran tunai (1,311) – – –Lain-lain rizab modal 2,127 – – –
38,177 62,560 93,940 60,377
Boleh diagih:Keuntungan tertahan 240,798 352,309 138,116 159,377
278,975 414,869 232,056 219,754
(a) Premium Saham
Premium saham tidak boleh diagih melalui dividen tunai dan boleh digunakan mengikut cara yang dikemukakan dalamSeksyen 60(3) Akta Syarikat 1965.
(b) Rizab Lindungan Nilai Aliran Tunai
Rizab ini terdiri daripada bahagian berkesan laba dan kerugian terkumpul dan kerugian atas instrumen lindungan nilaidianggap berkesan dalam lindungan nilai aliran tunai.
Kumpulan2010 2009RM'000 RM'000
Pada 1 Januari – –Kerugian atas lindungan nilai aliran tunai (3,070) –Dikelaskan semula kepada keuntungan atau kerugian – lain-lain perbelanjaan 1,759 –
Pada 31 Disember (1,311) –
(c) Keuntungan Tertahan
Tertakluk kepada persetujuan pihak berkuasa cukai, pada akhir tempoh pelaporan, Syarikat mempunyai:
(a) pendapatan dikecualikan cukai sebanyak lebih kurang RM88,260,517 (2009 – RM48,063,055) tersedia untuk tujuanmembayar dividen dikecualikan cukai; dan
(b) kredit cukai di bawah Seksyen 108 Akta Cukai Pendapatan 1967 untuk membuat bayaran dividen sebanyak lebih kurangRM27,096,000 (2009 – RM31,560,000) daripada keuntungan tertahannya.
Pada akhir tempoh pelaporan, Syarikat tidak memilih bagi sistem cukai satu tier. Apabila baki kredit cukai digunakansepenuhnya, atau sebelum 31 Disember 2013 paling lewat, Syarikat secara automatik berpindah kepada sistem cukaisatu tier. Di bawah sistem cukai satu tier, cukai ke atas keuntungan Syarikat adalah cukai akhir, dan dividen diagihkankepada pemegang-pemegang saham akan dikecualikan cukai.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
216 Petra Perdana Berhad
19. RIZAB (SAMB)
(d) Rizab Penebusan Modal
Rizab ini mewakili penebusan saham keutamaan tidak mengundi bukan terkumpul boleh tebus oleh anak syarikat yangdiperbadankan di Wilayah Persekutuan Labuan.
Berikutan dengan perubahan kepada Akta Syarikat-Syarikat Labuan 1990 dengan tidak ada nilai tara saham dan tidak adakeperluan modal saham minimum dalam tahun kewangan, rizab ini telah dikelaskan semula kepada lain-lain rizab modal.
20. RIZAB WARAN
Dalam tahun kewangan, Syarikat telah menerbitkan 61,379,785 Waran percuma selaras dengan Terbitan Hak sebagaimanadinyatakan dalam Nota 18(ii) kepada penyata kewangan. Selaras dengan FRSIC Konsensus 9 – Perakaunan bagi Terbitan Hakdengan Waran Percuma, perolehan daripada Terbitan Hak (tolak kos terbitan) telah diperuntukkan di antara saham-saham biasabaru yang diterbitkan dan Waran berdasarkan nilai saksamanya pada tarikh terbitan.
Terma-terma penting Waran 2010/ 2015 adalah seperti berikut:
(a) Setiap Waran memberikan hak kepada pemilik berdaftar untuk melanggan satu (1) saham biasa baru bernilai RM0.50sesaham dalam Syarikat pada bila-bila masa pada atau sebelum tarikh kematangan, 26 Oktober 2015, termasuk lima (5)tahun dari tarikh terbitan Waran. Waran tidak dilaksanakan selepas tempoh pelaksanaan akan luput selepas itu dan berhentimenjadi sah;
(b) Harga pelaksanaan Waran ditetapkan pada RM1.00 setiap Waran;
(c) Saham-saham biasa baru yang akan diterbitkan atas pelaksanaan Waran akan bertaraf pari passu dalam semua hubungandengan saham-saham biasa sedia ada Syarikat; dan
(d) Waran telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities pada 1 November 2010.
Pergerakan Waran dalam tahun kewangan adalah seperti berikut:
Hak Atas Saham Biasa Bernilai RM0.50 Sesaham
DiterbitkanPada Pada
27.10.2010 Dilaksanakan Dibatalkan 31.12.2010
Bilangan Waran tidak dilaksanakan 61,379,785 – – 61,379,785
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 217
21. CUKAI TERTUNDA
Kumpulan2010 2009RM'000 RM'000
Pada 1 Januari 2,060 30,908Perbezaan terjemahan (2) 14Diiktiraf dalam keuntungan atau kerugian (Nota 31) 1,990 (1,017)Pengambilalihan kepentingan tambahan dalam anak syarikat – 40Pelupusan kepentingan dalam anak syarikat (Nota 35) – (27,885)
Pada 31 Disember 4,048 2,060
Liabiliti cukai tertunda boleh dikaitkan kepada yang berikut:
Kumpulan2010 2009RM'000 RM'000
Lebihan elaun modal ke atas susut nilai 4,048 2,060
22. PINJAMAN JANGKA PANJANG
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Pemiutang sewa beli (Nota 23) 348 63 305 –Pinjaman berjangka (Nota 24) 145,740 227,000 104,803 227,000
146,088 227,063 105,108 227,000
23. PEMIUTANG SEWA BELI
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Bayaran sewa beli minimum:– tidak lewat daripada satu tahun 98 22 77 –– lewat daripada satu tahun
dan tidak lewat daripada lima tahun 357 73 307 –– lewat daripada lima tahun 38 – 38 –
493 95 422 –
Tolak: Caj kewangan masa hadapan (69) (13) (59) –
Nilai semasa pemiutang sewa beli 424 82 363 –
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
218 Petra Perdana Berhad
23. PEMIUTANG SEWA BELI (SAMB)
Pemiutang sewa beli bersih adalah perlu dibayar balik seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Semasa:– tidak lewat daripada satu tahun (Nota 27) 76 19 58 –
Bukan semasa:– lewat daripada satu tahun dan tidak lewat
daripada lima tahun 311 63 268 –– lewat daripada lima tahun 37 – 37 –
Jumlah bahagian bukan semasa (Nota 22) 348 63 305 –
424 82 363 –
Pemiutang sewa beli pada akhir tempoh pelaporan menanggung kadar faedah berkesan berkisar antara 3.99% hingga 5.64%(2009 – 2.42%) setahun.
24. PINJAMAN BERJANGKA
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Bahagian semasa:– perlu dibayar balik dalam masa
satu tahun (Nota 27) 98,732 218,000 95,020 218,000
Bahagian bukan semasa:– perlu dibayar balik antara satu hingga
dua tahun 79,800 177,000 69,933 177,000– perlu dibayar balik antara dua hingga
lima tahun 65,940 50,000 34,870 50,000
Jumlah bahagian bukan semasa (Nota 22) 145,740 227,000 104,803 227,000
244,472 445,000 199,823 445,000
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 219
24. PINJAMAN BERJANGKA (SAMB)
(a) Bon Bersiri Bercagar
Pada 30 Mac 2006, Syarikat menerbitkan RM400,000,000 bon bersiri bercagar bernilai nominal ("Bon"). Bon telahditerbitkan dalam 9 siri, seperti berikut:
Kadar KuponSiri Nilai Nominal Tarikh Kematangan Setahun
RM'000
A 120,000 30 Mac 2009 6.24%B 35,000 30 September 2009 5.75%C 35,000 30 Mac 2010 5.90%D 35,000 30 September 2010 6.10%E 35,000 30 Mac 2011 6.30%F 35,000 30 September 2011 6.55%G 35,000 30 Mac 2012 6.65%H 35,000 28 September 2012 6.75%I 35,000 29 Mac 2013 6.85%
Bayaran kupon kena dibayar dua kali setahun dalam tunggakan.
(b) Nota Berjangka Sederhana
Pada 3 November 2006, Syarikat menerbitkan RM50,000,000 nota berjangka sederhana nilai nominal ("MTN"). PenerbitanMTN telah dibuat dalam empat (4) siri, seperti berikut:
Kadar KuponSiri Nilai Nominal Tarikh Kematangan Setahun
RM’000
A 15,000 3 Mei 2010 5.75%B 10,000 3 November 2010 5.90%C 15,000 3 Mei 2011 6.10%D 10,000 3 November 2011 6.30%
Bayaran kupon kena dibayar dua kali setahun dalam tunggakan..
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
220 Petra Perdana Berhad
24. PINJAMAN BERJANGKA (SAMB)
Kedua-dua Bon dan MTN dicagar oleh:
(i) gadaian tetap ke atas saham anak-anak syarikat dan syarikat bersekutu tertentu;
(ii) penyerahan hak dan gadaian ke atas hasil dijana oleh kapal tertentu Kumpulan;
(iii) penyerahan hak dan gadaian ke atas perolehan insurans kapal tertentu Kumpulan;
(iv) gadaian tetap ke atas kapal tertentu Kumpulan; dan
(v) pelbagai usaha niaga oleh Syarikat.
(c) Pinjaman Berjangka Boleh Pindah Bersindiket
Pada 27 Februari 2009 dan 3 Mac 2009, Syarikat menerima kemudahan pinjaman berjangka boleh pindah bersindiketsehingga RM150 juta. Pinjaman tersebut perlu dibayar balik seperti berikut:
Kadar KuponKemudahan Tranche Nilai Nominal Tarikh Kematangan Setahun
RM’000
B 1 15,000 12 Mac 2010 ECOF+1.50%B 2 15,000 12 Mac 2011 ECOF+1.75%B 3 45,000 12 Mac 2012 ECOF+2.00%B 4 60,000 12 Mac 2013 ECOF+2.25%A 15,000 12 Mac 2013 ECOF+2.25%
Di mana ECOF adalah Kos Dana Berkesan satu (1) bulan sedia ada Pemberi Pinjaman masing-masing. Bayaran kupon kenadibayar secara bulanan dalam tunggakan.
Pinjaman berjangka boleh pindah bersindiket dicagar oleh:
(i) penyerahan hak pinjaman antara syarikat yang terhutang kepada Syarikat oleh syarikat bersekutu;
(ii) penyerahan hak undang-undang akan hak-hak Syarikat ke atas pulangan deposit bersih di bawah perjanjian depositpencarter dan memorandum perjanjian berhubung dengan vesel-vesel tertentu;
(iii) gadaian ke atas saham syarikat bersekutu; dan
(iv) gadaian ke atas akaun eskrow yang diwujudkan bagi tujuan mengenepikan jumlah bersamaan dengan sekurang-kurangnya faedah satu (1) bulan dan mana-mana jumlah diterima di bawah cagaran.
Pinjaman berjangka boleh pindah bersindiket telah diprabayar sepenuhnya dalam tahun kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 221
24. PINJAMAN BERJANGKA (SAMB)
(d) Pembiayaani Berjangka Murabahah Komoditi
Pada 18 Mac 2010, anak syarikat menerima kemudahan Pembiayaan Berjangka Murabahah Komoditi didenominasikandalam Dolar Amerika Syarikat (USD) dengan nilai nominal sebanyak USD14,480,000 (bersamaan dengan RM46,408,400).
Pinjaman berjangka mata wang asing telah dilindung nilai mengikut swap kadar faedah mata wang bersilang sebagaimanadinyatakan dalam Nota 25 kepada penyata kewangan dan perlu dibayar balik melalui lapan belas (18) ansuran suku tahunanberkisar antara RM961,500 hingga RM10,191,900, bermula pada Januari 2011.
Kadar faedah berkesan pinjaman berjangka mata wang asing pada akhir tempoh pelaporan adalah 5.58% (2009 –sifar) setahun.
Pinjaman berjangka mata wang asing dicagar oleh jaminan korporat disediakan oleh Syarikat.
25. LIABILITI DERIVATIF
Dalam tahun kewangan, Kumpulan menandatangani swap kadar faedah mata wang bersilang USD-MYR untuk melindung nilairisiko aliran tunai dan kadar faedah daripada pinjaman berjangka kadar terapung mata wang asingnya sebagaimana dinyatakandalam Nota 24(d) kepada penyata kewangan. Swap kadar faedah mata wang bersilang telah ditetapkan sebagai lindungan nilaialiran tunai dan telah dinilai sebagai amat berkesan.
Swap kadar faedah mata wang bersilang digunakan untuk melindung nilai pendedahan Kumpulan kepada perubahan dalammata wang kefungsian bersamaan aliran tunai dan kadar faedah pinjaman berjangka mata wang asing. Swap ini memberikanhak kepada Kumpulan untuk menerima USD LIBOR dan USD bersamaan dengan jumlah pokok di mana bayaran balik dibuatdalam Ringgit Malaysia berdasarkan kadar pertukarn dipersetujui sebanyak 3.205. Swap juga memberikan hak kepadaKumpulan untuk menerima faedha terapung bersamaan dengan 3-bulan USD LIBOR+2.00% setahun dan membayar 3-bulanKLIBOR+2.00% setahun.
Swap mempunyai tempoh kematangan yang sama dengan pinjaman berjangka mata wang asing.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
222 Petra Perdana Berhad
26. PEMIUTANG
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Pemiutang perdagangan 36,186 30,025 – –Lain-lain pemiutang dan akruan:– lain-lain pemiutang 13,167 79,960 1,847 3,381– akruan 17,372 15,299 6,933 5,611– dividen perlu dibayar 7 13 7 13
30,546 95,272 8,787 9,005
66,732 125,297 8,787 9,005
Pemiutang perlu dibayar seperti berikut:– bukan semasa 260 241 214 201– semasa 66,472 125,056 8,573 8,804
66,732 125,297 8,787 9,005
Tempoh kredit perdagangan biasa diberikan kepada Kumpulan berkisar antara 30 hingga 90 hari.
27. PINJAMAN JANGKA PENDEK
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Pemiutang sewa beli (Nota 23) 76 19 58 –Pinjaman berjangka (Nota 24) 98,732 218,000 95,020 218,000
98,808 218,019 95,078 218,000
28. ASET BERSIH SETIAP SAHAM BIASA
Aset bersih setiap saham biasa dikira berdasarkan nilai aset bersih sebanyak RM504,035,000 (2009 – RM563,669,000) dibahagikandengan bilangan saham biasa dalam terbitan pada akhir tempoh pelaporan sebanyak 450,120,000 (2009 – 297,600,000) saham.
29. HASIL
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Pendapatan kapal dicarter 254,887 540,148 – –Hasil kontrak – 65,536 – –Pendapatan dividen – – 11,523 46,209Yuran pengurusan – – – 1,620Pendapatan sewa – – 158 338
254,887 605,684 11,681 48,167
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 223
30. (KERUGIAN)/KEUNTUNGAN SEBELUM CUKAI
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
(Kerugian)/ Keuntungan sebelumcukai diperolehi selepas dicaj/(dikreditkan):
Yuran audit:– tahun kewangan semasa 239 338 116 56– terkurang peruntukan
dalam tahun kewangansebelumnya 6 13 – –
Peruntukan bagi kerugianrosot nilai ke ataspenghutang/ pihak berkaitan/anak-anak syarikat 5,020 – 5 –
Pelunasan bayaranpajakan prabayar – 118 – –
Susut nilai hartanah,loji dan peralatan 7 36,227 48,956 445 425
Imbuhan para Pengarah:– yuran 38 371 216 371 177– lain-lain emolumen 38 4,024 1,412 2,109 622– caruman persaraan 38 23 39 17 20– manfaat bukan berupa wang 38 259 132 193 82Sewa peralatan 478 25,757 – –Kerugian rosot nilai hartanah,
loji dan peralatan 2,982 – – –Kerugian rosot nilai atas deposit
boleh dikembalikan 9,380 – – –Perbelanjaan faedah:– bon dan MTN 16,218 18,416 16,218 22,404– sewa beli 15 34 11 –– pinjaman berjangka boleh
pindah bersindiket 2,894 6,688 1,751 6,691– pinjaman berjangka
mata wang asing 1,837 – – –– kredit pusingan 687 632 687 632Inventori dihapus kira – 2 – –Sewa pajakan kapal 102,247 61,986 – –Kerugian/(Laba) ke atas
pertukaran asing:– direalis 5,507 3,184 138 (309)– tidak direalis (9,464) (399) – –
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
224 Petra Perdana Berhad
30. (KERUGIAN)/KEUNTUNGAN SEBELUM CUKAI (Samb)
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
Perbelanjaan awal – 25 – –Hartanah, loji dan
peralatan dihapus kira 7 9 – – –Peruntukan bagi
caruman persaraan – 58 – 9Sewa premis 795 1,792 366 366Kos kakitangan 40,862 142,187 4,471 5,315Peningkatan deposit boleh
dikembalikan padakos dilunaskan (3,657) – – –
Hutang lapuk diperolehi semula – (56) – –Pendapatan dividen:– syarikat bersekutu – – (577) –– anak-anak syarikat – – (10,946) (46,209)Laba atas pemindahan hartanah,
loji dan peralatan – – – (554)Laba atas pelupusan kepentingan
dalam anak syarikat 35 – (12,677) – (86,351)(Laba)/ Kerugian atas pelupusan
hartanah, loji dan peralatan (424) (3,165) 1,509 –Laba atas pelupusan aset bukan
semasa dikelaskan sebagaidipegang untuk jualan (5,855) (1,952) – –
Pendapatan faedah daripada:– syarikat bersekutu (2,301) (326) (2,301) (326)– deposit tetap (1,368) (3,519) (1,298) (2,058)– anak-anak syarikat – – (924) (9,252)Yuran pengurusan:– syarikat bersekutu – (135) – (135)– anak-anak syarikat – – – (1,485)Pendapatan sewa:– syarikat bersekutu – (15) – (15)– anak-anak syarikat – – (158) (323)– pihak ketiga (8) – – –Penepian hutang (107) (866) – –Kemasukan kira semula kerugian
rosot nilai ke atas penghutang – (555) – (944)
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 225
31. PERBELANJAAN CUKAI PENDAPATAN
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Perbelanjaan cukai semasa:– cukai Malaysia (2,392) 8,654 – 364– cukai asing 652 4,663 – 173
(1,740) 13,317 537– (terlebih)/ terkurang peruntukan
dalam tahun kewangan sebelumnya (741) 51 (8) (306)
(2,481) 13,368 (8) 231
Cukai tertunda (Nota 21):– berkaitan dengan pengasalan dan
pengiktirafan perbezaan sementara 475 (1,017) – –– terkurang peruntukan dalam tahun
kewangan sebelumnya 1,515 – – –
1,990 (1,017) – –
(491) 12,351 (8) 231
Penyelarasan perbelanjaan cukai pendapatan terpakai kepada keuntungan sebelum cukai pada kadar cukai berkanun kepadaperbelanjaan cukai pendapatan pada kadar cukai berkesan Kumpulan dan Syarikat adalah seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
(Kerugian)/ Keuntungan sebelum cukai (72,897) 48,701 (17,003) 105,625
Cukai pada kadar cukaiberkanun sebanyak 25% (18,224) 12,175 (4,251) 26,406
Kesan cukai ke atas:Laba tidak boleh dicukai (3,128) (27,486) (2,920) (32,626)Perbelanjaan tidak boleh ditolak 23,396 31,565 7,171 6,757Penggunaan aset cukai tertunda tidak
diiktiraf sebelum ini (3,175) (3,702) – –(Terlebih)/ Terkurang peruntukan cukai semasa
dalam tahun kewangan sebelumnya (741) 51 (8) (306)Terkurang peruntukan cukai tertunda dalam
tahun kewangan sebelumnya 1,515 – – –Perbezaan kadar cukai (134) (252) – –
Cukai bagi tahun kewangan (491) 12,351 (8) 231
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
226 Petra Perdana Berhad
32. (KERUGIAN)/PEROLEHAN SETIAP SAHAM
(Kerugian)/ perolehan asas setiap saham (“EPS”) diperolehi dengan membahagikan (kerugian)/ keuntungan Kumpulan bolehdikaitkan dengan pemegang-pemegang ekuiti Syarikat sebanyak RM72,002,000 (2009 – RM29,317,000) dengan purata wajaranbilangan saham biasa dalam terbitan dalam tahun kewangan sebanyak 334,463,671 (2009 – 297,600,000 saham biasa).
Kerugian setiap saham dicairkan tidak dibentangkan bagi tahun kewangan semasa memandangkan terdapat kesan anti-pencairantimbul daripada andaian penukaran Waran.
Dalam tahun kewangan sebelumnya, perolehan setiap saham dicairkan tidak terpakai memandangkan tidak ada potensi sahambiasa dicairkan belum dijelas pada akhir tempoh pelaporan sebelumnya.
33. DIVIDEN
Kumpulan/Syarikat2010 2009RM'000 RM'000
Berhubung dengan tahun kewangan berakhir 31 Disember 2008Dividen pertama dan akhir sebanyak 2.0 sen setiapsaham biasa bernilai RM0.50 sesaham tolak cukai sebanyak 25% – 4,464
Berhubung dengan tahun kewangan berakhir 31 Disember 2009Dividen pertama dan akhir sebanyak 2.0 sen setiapsaham biasa bernilai RM0.50 sesaham tolak cukai sebanyak 25% 4,464 –
Para pengarah tidak mengesyorkan bayaran sebarang dividen berhubung dengan tahun kewangan berakhir 31 Disember 2010.
34. PELABURAN DALAM ANAK-ANAK SYARIKAT BARU
(a) Dalam tahun kewangan semasa, anak syarikat berikut telah diperbadankan:
KepentinganBerkesan Tarikh
Nama Anak Syarikat Kumpulan (%) Pemerbadanan
Perdana Nautika Sdn. Bhd. 55 19 November 2010
(b) Dalam tahun kewangan sebelumnya, anak-anak syarikat berikut telah diperbadankan:
KepentinganBerkesan Tarikh
Nama Anak Syarikat Kumpulan (%) Pemerbadanan
Perdana Jupiter Limited 100 12 Mei 2009Perdana Neptune Limited 100 23 Jun 2009Perdana Pluto Limited 100 12 Ogos 2009Perdana Saturn Limited 100 12 Ogos 2009
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 227
35. RINGKASAN KESAN-KESAN ATAS PELUPUSAN ANAK SYARIKAT
KepentinganPerolehan Berkesan TarikhJualan Kumpulan Pelupusan
Anak Syarikat Balasan Kos Sampingan Bersih Dilupuskan BerkesanRM’000 RM’000 RM’000 (%)
PEB 16,065 (218) 15,847 5.38 10 September 2009PEB 93,208 (2,937) 90,271 25.03 11 Disember 2009
109,273 (3,155) 106,118 30.41
Butir-butir mengenai aset, liabiliti dan aliran masuk tunai bersih timbul daripada pelupusan kepentingan dalam anak syarikatadalah seperti berikut:
Kumpulan/Syarikat2009
Nota RM’000
Hartanah, loji dan peralatan 7 260,729Bayaran pajakan prabayar 7,157Pelaburan dalam syarikat bersekutu 40Aset tidak ketara 10 1,434Aset cukai tertunda 11 16Tunai dan setara tunai 45,356Penghutang perdagangan 13 191,526Lain-lain penghutang, deposit dan prabayaran 13 75,682Lai-lain liabiliti semasa bersih (245,133)Cukai tertunda 21 (27,885)Lain-lain liabiliti bukan semasa (534)
Jumlah ekuiti 308,388Tolak: Kepentingan minoriti (123,880)Tolak: Faedah dikekalkan dalam anak syarikat dilupuskan (91,067)
Aset bersih dilupuskan 93,441Laba atas pelupusan kepentingan dalam anak syarikat 30 12,677
Perolehan jualan bersih diterima 106,118Tolak: Tunai dan setara tunai anak syarikat dilupuskan (45,356)
Aliran masuk tunai bersih atas pelupusan kepentingan dalam anak syarikat 60,762
Tidak ada pelupusan anak syarikat dalam tahun kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
228 Petra Perdana Berhad
36. PEMBELIAN HARTANAH, LOJI DAN PERALATAN
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Hartanah, loji dan peralatan dibeli 191,345 529,405 6,838 2,889Tolak: Jumlah dibiayai melalui sewa beli (390) (96) (390) –
Tunai dibayar bagi pembelian hartanah,loji dan peralatan 190,955 529,309 6,448 2,889
37. TUNAI DAN SETARA TUNAI
Untuk tujuan penyata aliran tunai, tunai dan setara tunai terdiri daripada yang berikut:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Deposit tetap dengan bank berlesen 51,188 158,437 47,360 152,392Tunai dan baki bank 18,293 21,288 3,018 8,270
69,481 179,725 50,378 160,662Tolak: Deposit tetap disandarkan sebagai
cagaran (Nota 16) (31,538) (144,306) (29,060) (144,306)
37,943 35,419 21,318 16,356
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 229
38. IMBUHAN PARA PENGARAH
Agregat jumlah imbuhan diterima dan boleh diterima daripada Kumpulan oleh para pengarah Syarikat dalam tahun kewanganadalah seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Para Pengarah Eksekutif:– yuran 199 126 199 87– emolumen bukan yuran 4,027 1,451 2,106 642
4,226 1,577 2,305 729
Para Pengarah Bukan Eksekutif Bebas:– yuran 172 90 172 90– emolumen bukan yuran 20 – 20 –
192 90 192 90
Jumlah imbuhan para pengarah 4,418 1,667 2,497 819Anggaran nilai wang manfaat
bukan berupa wang 259 132 193 82
Jumlah imbuhan para pengarah, termasukmanfaat bukan berupa wang 4,677 1,799 2,690 901
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
230 Petra Perdana Berhad
38. IMBUHAN PARA PENGARAH (SAMB)
Bilangan pengarah Syarikat yang jumlah imbuhan diterima/ boleh diterima daripada Kumpulan dalam tahun kewangan yangjatuh dalam kumpulan berikut dianalisis di bawah:
Bilangan PengarahKumpulan Syarikat
2010 2009 2010 2009
Pengarah Eksekutif
Di bawah RM50,000 1 – 1 1RM50,001 – RM100,000 – – 1 –RM100,001 – RM150,000 1 – 1 –RM250,001 – RM300,000 – 1 – 1RM500,001 – RM550,000 – 1 – 1RM550,001 – RM600,000 1 – 1 –RM750,001 – RM800,000 – – 1 –RM900,001 – RM950,000 – 1 – –RM950,001 – RM1,000,000 – – 1 –RM1,000,001 – RM1,050,000 1 – – –RM1,050,001 – RM1,100,000 1 – – –RM1,650,001 – RM1,700,000 1 – – –
6 3 6 3
Pengarah Bukan Eksekutif Bebas
Di bawah RM50,000 6 3 6 3RM50,001 – RM100,000 1 – 1 –
7 3 7 3
13 6 13 6
Dalam tahun kewangan, empat (4) pengarah telah dipecat daripada Lembaga dan seorang (1) pengarah telah meletak jawatan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 231
39. PENDEDAHAN PIHAK BERKAITAN
Kumpulan mempunyai perhubungan pihak berkaitan dengan:
(a) anak-anak syarikatnya, sebagaimana dinyatakan dalam Nota 5, Nota 6 dan Nota 14 kepada penyata kewangan; dan
(b) personel pengurusan penting Kumpulan.
Selain daripada maklumat diperincikan di bahagian-bahagian lain dalam penyata kewangan, Kumpulan menjalankan urus niagaberikut dengan pihak berkaitan dalam tahun kewangan:
Kumpulan Syarikat2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
Syarikat bersekutu:– pendapatan dividen – – 577 –– pendapatan faedah
dan kewangan 2,301 326 2,301 326– pendapatan yuran pengurusan – 135 – 135– pendapatan sewa – 15 – 15
Anak–anak syarikat:– pendapatan dividen – – 10,946 46,209– yuran pengendalian dibayar/
perlu dibayar – – 522 596– Pendapatan faedah dan kewangan – – 924 9,252– pendapatan yuran pengurusan – – – 1,485– pendapatan sewa – – 158 323
Pihak berkaitan: (i)– pendapatan kapal dicarter 94,070 6,084 – –– yuranretainer dibayar/
perlu dibayar – 39 – 39– jualan hartanah, loji
dan peralatan 96,600 – – –
Pampasan personelpengurusan penting:
– manfaat kakitangan jangka pendek 5,752 6,412 2,673 1,957– manfaat selepas perkhidmatan 23 58 17 9
Nota:
(i) Syarikat dalam mana pengarah anak syarikat mempunyai kepentingan kewangan besar.
Butir-butir mengenai jumlah belum dijelas dengan anak-anak syarikat, pihak berkaitan dan syarikat berkaitan dinyatakan dalamNota 8, Nota 14 dan Nota 15 kepada penyata kewangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
232 Petra Perdana Berhad
40. KOMITMEN MODAL
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Diluluskan dan Dikontrakkan
Pembelian hartanah, loji dan peralatan 198,276 448,660 4,547 10,747
41. LIABILITI KONTIGEN
Kumpulan Syarikat2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Tidak bercagar
Jaminan korporat diberikan kepada bank daninstitusi kewangan berlesen bagi kemudahankredit diberikan kepada pihak berkaitan 9,508 32,233 9,508 32,233
Jaminan bank diberikan kepada pihak ketigabagi manfaat anak syarikat 2,320 2,591 2,320 2,591
Jaminan prestasi diberikan oleh anak-anaksyarikat kepada pihak ketiga 5 5 – –
11,833 34,829 11,828 34,824
42. KOMITMEN PAJAKAN
Kumpulan2010 2009RM'000 RM'000
Sewa pajakan perlu dibayar:– dalam masa satu tahun 105,137 97,958– dalam masa dua hingga lima tahun 373,316 365,329– dalam masa enam hingga sepuluh tahun 232,191 342,955
710,644 806,242
Sewa-sewa pajakan yang perlu dibayar berhubung dengan perjanjian pajakan yang ditandatangani oleh anak syarikat bagipajakan kapal-kapal bagi tempoh berkisar antara lima (5) hingga sepuluh (10) tahun dan bagi pejabat dan gudang.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 233
43. KADAR PERTUKARAN ASING
Kadar pertukaran asing penutup terpakai digunakan (dinyatakan atas dasar satu unit mata wang asing kepada bersamaan RinggitMalaysia) bagi urus niaga material baki mata wang asing pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan/Syarikat2010 2009RM'000 RM'000
Dolar Australia 3.1515 3.0700Dolar Singapura 2.3908 2.4408Dolar Amerika Syarikat 3.0905 3.4295
44. SEGMEN KENDALIAN
Segmen kendalian disediakan dalam cara yang konsisten dengan pelaporan dalaman disediakan kepada Jawatankuasa EksekutifKumpulan sebagai ketua pembuat keputusan kendaliannya untuk memperuntukkan sumber kepada segmen dan untuk menilaiprestasinya. Untuk tujuan pengurusan, Kumpulan disusun mengikut unit-unit perniagaan berdasarkan produk dan perkhidmatanyang mereka disediakan.
Kumpulan disusun mengikut tiga (3) segmen perniagaan utama seperti berikut:
(i) Segmen perkhidmatan sokongan luar pesisir marin – penyediaan kapal-kapal bagi industri minyak dan gas huluan,berkisar daripada penundaan, tambatan dan penggunaan sauh kapal marin bukan penggerak sendiri; pengangkutanperalatan penggerudian, bahan kimia pengeluaran dan bahan projek sehinggalah kemudahan kejuruteraan dan bengkelkerja di atas kapal.
(ii) Segmen perkhidmatan Brownfield, kejuruteraan dan penyelenggaraan bersepadu – penyediaan perkhidmatan termasukpengaktifan dan pembinaan penyambungan penyelenggqaraan utama bahagian atas; kejuruteraan, operasi danpenyelenggaraan; pembungkusan dan pengilangan peralatan; pengoptimuman medan minyak, rekaan dan pembikinanperalatan dan dandang diproses bagi industri minyak dan gas, petrokimia dan am.
(iii) Segmen pemegangan pelaburan – menyediakan perkhidmatan korporat tahap kumpulan dan tugas-tugas perbendaharaandan pelaburan dalam ekuiti.
Jawatankuasa Eksekutif Kumpulan menilai prestasi segmen kendalian berdasarkan keputusan kendalian yang diukur secara berbezadaripada yang dinyatakan dalam penyata kewangan disatukan.
Aset, liabiliti dan perbelanjaan yang biasa dan tidak mempunyai kegunaan diperuntukkan kepada segmen kendaliandibentangkan di bawah perkara tidak diperuntukkan. Perkara tidak diperuntukkan terdiri terutamanya daripada pelaburan dalamsyarikat bersekutu.
Harga pemindahan di antara segmen kendalian adalah atas terma-terma biasa dalam cara yang serupa dengan urus niagadengan pihak ketiga.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
234 Petra Perdana Berhad
44. SEGMEN KENDALIAN (SAMB)
SEGMEN PERNIAGAAN
PerkhidmatanBrownfield,
Perkhidmatan Kejuruteraan2010 Sokongan Dan
Luar Pesisir Penyelenggaraan Pemegangan PenghapusanMarin Bersepadu Pelaburan Kira KumpulanRM’000 RM’000 RM’000 RM’000 RM’000
HASILHasil luaran 254,887 – – – 254,887Hasil antara segmen 168,410 – 11,681 (180,091) –
423,297 – 11,681 (180,091) 254,887
KEPUTUSANKeputusan segmen (73,120) – 2,222 20,569 (50,329)Kos kewangan (4,641) – (19,426) 1,112 (22,955)
(77,761) – (17,204) 21,681 (73,284)
Bahagian keputusan dalamsyarikat bersekutu 387
Perbelanjaan cukai pendapatan 491
Kerugian selepas cukaidisatukan (72,406)
ASETAset segmen 603,023 – 662,980 (445,916) 820,087
Aset cukai tertunda 46Cukai boleh diperolehi semula 3,758
Jumlah aset disatukan 823,891
LIABILITILiabiliti segmen 355,748 – 210,968 (251,985) 314,731
Cukai tertunda 4,048Peruntukan bagi cukai 860
Jumlah liabiliti disatukan 319,639
LAIN-LAIN PERKARA SEGMENTambahan kepada aset bukan semasa selain daripada instrumen kewangan:– pelaburan dalam anak syarikat – – 55 (55) –– hartanah, loji dan peralatan 184,507 – 6,838 – 191,345
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 235
44. SEGMEN KENDALIAN (SAMB)
SEGMEN PERNIAGAAN (SAMB)
PerkhidmatanBrownfield,
Perkhidmatan Kejuruteraan2009 Sokongan Dan
Luar Pesisir Penyelenggaraan Pemegangan PenghapusanMarin Bersepadu Pelaburan Kira KumpulanRM’000 RM’000 RM’000 RM’000 RM’000
HASILHasil luaran 227,618 377,916 150 – 605,684Hasil antara segmen 177,689 159 48,017 (225,865) –
405,307 378,075 48,167 (225,865) 605,684
KEPUTUSANKeputusan segmen 36,112 37,126 134,874 (125,968) 82,144Kos kewangan (1,244) (7,739) (32,964) 9,252 (32,695)
Keuntungan sebelum cukai 34,868 29,387 101,910 (116,716) 49,449
Bahagian keputusan syarikatbersekutu (748)
Perbelanjaan cukai pendapatan (12,351)
Keuntungan selepas cukaidisatukan 36,350
ASETAset segmen 730,827 – 820,598 (415,391) 1,136,034
Aset cukai tertunda 46Cukai boleh didapati semula 5,057
Jumlah aset disatukan 1,141,137
LIABILITILiabiliti segmen 339,003 – 457,939 (224,352) 572,590
Cukai tertunda 2,060Peruntukan bagi cukai 2,238
Jumlah liabiliti disatukan 576,888
LAIN-LAIN PERKARA SEGMENTambahan kepada aset bukan semasa selain daripada instrumen kewangan:– pelaburan dalam anak syarikat – – 394 (394) –– hartanah, loji dan peralatan 383,090 143,415 2,900 – 529,405
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
236 Petra Perdana Berhad
44. SEGMEN KENDALIAN (SAMB)
SEGMEN PERNIAGAAN (SAMB)
Perkara berikut ditambah kepada/ (ditolak daripada) keuntungan segmen untuk diperolehi pada (kerugian)/ keuntungan selepascukai disatukan:
Kumpulan2010 2009RM'000 RM'000
Peningkatan deposit boleh dikembalikan pada kos dilunaskan 3,657 –Laba atas pelupusan kepentingan dalam anak syarikat – 12,677Laba atas pelupusan hartanah, loji dan peralatan 424 3,165Laba atas pelupusan aset bukan semasa dikelaskan sebagai dipegang untuk jualan 5,855 1,952Peruntukan bagi kerugian rosot nilai ke atas penghutang/ pihak berkaitan (5,020) –Kerugian rosot nilai ke atas hartanah, loji dan peralatan (2,982) –Kerugian rosot nilai ke atas deposit boleh dikembalikan (9,380) –
SEGMEN GEOGRAFI
Kumpulan KumpulanHasil Aset Bukan Semasa
2010 2009 2010 2009RM'000 RM'000 RM'000 RM'000
Malaysia 169,877 495,403 463,080 388,724Singapura 51,898 43,091 399 488Marshall Islands 33,079 59,766 144,307 287,500Australia 33 7,424 51 79
254,887 605,684 607,837 676,791
PELANGGAN-PELANGGAN UTAMA
Hasil daripada empat (4) pelanggan, dengan hasil bersamaan atau lebih 10% daripada hasil Kumpulan, berjumlahRM221,990,000 (2009 – RM205,504,000).
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 237
45. INSTRUMEN KEWANGAN
(a) Polisi Pengurusan Risiko Kewangan
Polisi pengurusan risiko kewangan Kumpulan cuba untuk memastikan agar sumber kewangan mencukupi tersedia untukpembangunan perniagaan Kumpulan manakala menguruskan risiko pasarannya (termasuk risiko mata wang asing, risikokadar faedah dan risiko ekuiti), risiko kredit dan risiko mudah tunai. Polisi Kumpulan berhubung dengan bidang utamakegiatan perbendaharaan adalah seperti berikut:
(i) Risiko Pasaran
(i) Risiko Mata Wang Asing
Kumpulan terdedah kepada risiko pertukaran asing timbul terutamanya daripada urus niaga perdagangan biasayang didenominasikan dalam mata wang asing. Ia menguruskan pendedahan pertukaran asingnya melalui polisimemadankan setakat mana yang boleh penerimaan dan bayaran dalam setiap mata wang individu. Urus niagadan baki mata wang asing Kumpulan sebahagian besarnya didenominasikan dalam Dolar Amerika Syarikat (USD).Risiko mata wang asing diuruskan pada tahap boleh diterima.
Ada kalanya, Kumpulan memasuki pelbagai instrumen kewangan derivatif untuk menguruskan pendedahannyakepada risiko mata wang asing.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
238 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
DolarAmerika Dolar Dolar RinggitSyarikat Singapura Australia Lain-Lain Malaysia Jumlah
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’0002010
Aset kewanganDeposit boleh dikembalikan 90,930 – – – – 90,930Penghutang perdagangandan lain-lain penghutang 36,164 2,167 9 – 15,626 53,966
Jumlah terhutang oleh pihakberkaitan 4,189 758 451 – 31,216 36,614
Deposit tetap dengan bankberlesen – 2,478 – – 48,710 51,188
Tunai dan baki bank 13,845 1,278 650 9 2,511 18,293
145,128 6,681 1,110 9 98,063 250,991
Liabiliti kewanganLiabiliti derivatif – – – – 3,070 3,070Pemiutang 27,239 9,001 944 1,916 27,632 66,732Jumlah terhutang kepadapihak berkaitan 1 – – – 32 33
Pinjaman – 61 – – 244,835 244,896
27,240 9,062 944 1,916 275,569 314,731
Aset/ (liabiliti) kewangan bersih 117,888 (2,381) 166 (1,907) (177,506) (63,740)
Tolak: (Aset)/ liabiliti kewanganbersih didenominasikandalam mata wangkefungsian entitimasing-masing 95,478 2,846 166 – (177,114) (78,624)
Pendedahan mata wang 22,410 (5,227) – (1,907) (392) 14,884
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 239
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
DolarAmerika Dolar Dolar RinggitSyarikat Singapura Australia Lain-Lain Malaysia Jumlah
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2009
Aset kewanganDeposit boleh dikembalikan 98,221 – – – – 98,221Penghutang perdagangandan lain-lain penghutang 45,776 4,504 79 – 12,507 62,866Jumlah terhutang olehpihak berkaitan 6,438 779 616 – 30,361 38,194
Jumlah terhutang oleh syarikatbersekutu – – – – 51,649 51,649
Deposit tetap denganbank berlesen – 1,455 – – 156,982 158,437
Tunai dan baki bank 17,857 780 1,145 10 1,496 21,288
168,292 7,518 1,840 10 252,995 430,655
Liabiliti kewanganPemiutang 84,376 10,560 1,069 537 28,755 125,297Jumlah terhutang kepadapihak berkaitan 1 – – – 235 236Jumlah terhutang kepadasyarikat bersekutu – – – – 1,975 1,975Pinjaman – 82 – – 445,000 445,082
84,377 10,642 1,069 537 475,965 572,590
Aset/ (liabiliti) kewangan bersih 83,915 (3,124) 771 (527) (222,970) (141,935)
Tolak: (Aset)/ liabiliti kewanganbersih didenominasikandalam mata wangkefungsian entitimasing-masing 46,586 2,781 771 – (205,782) (155,644)
Pendedahan mata wang 37,329 (5,905) – (527) (17,188) 13,709
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
240 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
DolarAmerika RinggitSyarikat Malaysia Jumlah
Syarikat RM’000 RM’000 RM’000
2010
Aset kewanganPenghutang – 1,416 1,416Jumlah terhutang oleh anak–anak syarikat – 271 271Jumlah terhutang oleh pihak berkaitan – 259 259Deposit tetap dengan bank berlesen – 47,360 47,360Tunai dan baki bank 1,585 1,433 3,018
1,585 50,739 52,324
Liabiliti kewanganPemiutang – 8,787 8,787Jumlah terhutang kepada anak-anak syarikat – 123,839 123,839Jumlah terhutang kepada pihak berkaitan – 32 32Pinjaman – 200,186 200,186
– 332,844 332,844
Aset/ (liabiliti) kewangan bersih 1,585 (282,105) (280,520)Tolak: (Aset)/ liabiliti kewangan bersih didenominasikan
dalam mata wang kefungsian entiti masing-masing – (282,105) (282,105)
Pendedahan mata wang 1,585 – 1,585
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 241
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
DolarAmerika RinggitSyarikat Malaysia Jumlah
Syarikat RM’000 RM’000 RM’000
2009
Aset kewanganPenghutang – 217 217Jumlah terhutang oleh anak-anak syarikat – 27 27Jumlah terhutang oleh pihak berkaitan – 259 259Jumlah terhutang oleh syarikat bersekutu – 51,649 51,649Deposit tetap dengan bank berlesen – 152,392 152,392Tunai dan baki bank 6,947 1,323 8,270
6,947 205,867 212,814
Liabiliti KewanganPemiutang – 9,005 9,005Jumlah terhutang kepada anak-anak syarikat – 95,862 95,862Jumlah terhutang kepada pihak berkaitan – 3 3Jumlah terhutang kepada syarikat bersekutu – 1,975 1,975Pinjaman – 445,000 445,000
– 551,845 551,845
Aset/ (liabiliti) kewangan bersih) 6,947 (345,978) (339,031)Tolak: (Aset)/ liabiliti kewangan bersih didenominasikan
dalam mata wang kefungsian entiti masing-masing – (345,978) (345,978)
Pendedahan mata wang 6,947 – 6,947
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
242 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
Analisis kesensitifan risiko mata wang asing
Jadual berikut memperincikan analisis kesensitifan kepada kemungkinan perubahan munasabah dalam mata wangasing pada akhir tempoh pelaporan, dengan semua angka boleh ubah lain kekal konstans:
Kumpulan Syarikat2010 2010
Peningkatan/ Peningkatan/(Pengurangan) (Pengurangan)
RM’000 RM’000Kesan ke atas keuntungan selepas cukai
Dolar Amerika Syarikat:– mengukuh sebanyak 10% 2,241 159– susut sebanyak 10% (2,241) (159)
Dolar Singapura:– mengukuh sebanyak 10% (523) –– susut sebanyak 10% 523 –
Kesan ke atas ekuiti
Tidak ada kesan material kepada ekuiti Kumpulan.
(ii) Risiko Kadar Faedah
Pendedahan Kumpulan kepada risiko kadar faedah timbul terutamanya daripada deposit jangka pendeknya denganbank berlesen dan pinjaman menanggung faedah. Ada kalanya, Kumpulan memasuki pelbagai instrumenkewangan derivatif bagi menguruskan pendedahannya kepada risiko kadar faedah.
Dana lebihan ditempatkan dengan institusi kewangan berlesen pada kadar faedah yang paling menguntungkan.
Analisis kesensitifan risiko kadar faedah
Jadual berikut memperincikan analisis kesensitifan kepada perubahan munasabah yang mungkin dalam kadarfaedah pinjaman kadar tetap pada akhir tempoh pelaporan, dengan semua angka boleh ubah lain kekal konstan:
Kumpulan Syarikat2010 2010
Peningkatan/ Peningkatan/(Pengurangan) (Pengurangan)
RM’000 RM’000Kesan ke atas keuntungan selepas cukai
Meningkat sebanyak 50 mata asas (“bp”) (165) –Merosot sebanyak 50 bp 165 –
Kesan ke atas ekuiti
Tidak ada kesan material kepada ekuiti Kumpulan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 243
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(iii) Risiko Harga Ekuiti
Pendedahan ketara Kumpulan kepada risiko harga ekuiti timbul terutamanya daripada perubahan dalam hargasekuriti disebut harga. Risiko harga ekuiti diawasi dengan teliti dan diuruskan pada tahap yang boleh diterima.
Memandangkan pelaburan disebut harga Kumpulan diakaunkan di bawah kaedah kos, analisis kesensitifantidak dibentangkan.
(ii) Risiko Kredit
Pendedahan Kumpulan kepada risiko kredit, atau risiko pihak satu lagi yang memungkiri, timbul terutamanya daripadapenghutang (termasuk penghutang perdagangan, lain-lain penghutang dan pihak berkaitan). Kumpulan menguruskanpendedahannya kepada risiko kredit melalui penggunaan kelulusan kredit, had kredit dan prosedur mengawasi atasdasar berterusan.
Kumpulan mewujudkan peruntukan bagi rosot nilai yang mewakili anggaran daripada kerugian ditanggungnyaberhubung dengan penghutang sebagaimana sesuai. Komponen utama peruntukan ini adalah komponen kerugiankhusus yang berkait dengan pendedahan ketara secara individu, dan komponen kerugian terkumpul diwujudkan bagikumpulan aset yang sama berhubung dengan kerugian yang telah ditanggung tetapi masih belum dikenal pasti. Rosotnilai dianggarkan oleh pengurusan berdasarkan pengalaman dan persekitaran ekonomi semasa.
Profil penumpuan risiko kredit
Penumpuan risiko kredit Kumpulan berkait dengan jumlah terhutang oleh empat (4) pelanggan yang membentuk lebihkurang 81% daripada penghutang perdagangan bersihnya pada akhir tempoh pelaporan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
244 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(ii) Risiko Kredit (Samb)
Pendedahan kepada risiko kredit
Memandangkan Kumpulan tidak memegang sebarang kolateral, pendedahan maksimum kepada risiko kredit diwakilioleh jumlah penyimpanan aset kewangan pada akhir tempoh pelaporan.
Analisis pengusiaan
Analisis pengusiaan penghutang perdagangan Kumpulan pada 31 Disember 2010 adalah seperti berikut:
Jumlah Rosot Nilai Rosot Nilai NilaiKasar Tunggal Terkumpul Hantar
Kumpulan RM’000 RM’000 RM’000 RM’000
2010
Tidak melepasi tempoh kena dibayar 27,113 – – 27,113
Melepasi tempoh kena dibayar:– kurang daripada 3 bulan 11,193 – – 11,193– 3 hingga 6 bulan 4,839 – – 4,839– melebihi 6 bulan 3,171 (297) – 2,874
46,316 (297) – 46,019
Penghutang perdagangan yang melepasi tempoh kena bayar tetapi tidak merosot nilainya
Kumpulan percaya bahawa tidak ada peruntukan rosot nilai yang diperlukan berhubung dengan penghutang ini.Penghutang ini sebahagian besarnya adalah syarikat-syarikat dengan rekod pengutipan yang memuaskan dan tidakada sejarah pemungkiran.
Penghutang perdagangan yang tidak melepasi tempoh kena bayar dan tidak merosot nilainya
Bahagian ketara penghutang perdagangan yang tidak melepasi tempoh kena bayar dan tidak merosot nilai adalahpelanggan-pelanggan tetap yang telah lama berurus niaga dengan Kumpulan. Kumpulan menggunakan analisispengusiaan untuk mengawasi kualiti kredit penghutang perdagangan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 245
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(ii) Risiko Kredit (Samb)
Analisis pengusiaan (Samb)
Analisis pengusiaan lain-lain baki perdagangan Kumpulan (jumlah terhutang oleh pihak berkaitan) pada 31 Disember 2010adalah seperti berikut:
Jumlah Rosot Nilai Rosot Nilai NilaiKasar Tunggal Terkumpul Hantar
Kumpulan RM’000 RM’000 RM’000 RM’000
2010
Tidak melepasi tempoh kena dibayar 15,078 – – 15,078
Melepasi tempoh kena dibayar:– kurang daripada 3 bulan 9,515 – – 9,515– 3 hingga 6 bulan 5,037 (1,899) – 3,138– melebihi 6 bulan 1,168 – – 1,168
30,798 (1,899) – 28,899
Penghutang perdagangan yang melepasi tempoh kena bayar tetapi tidak merosot nilainya
Kumpulan percaya bahawa peruntukan rosot nilai tidak diperlukan memandangkan kebanyakan mereka pihak berkaitan.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
246 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(iii) Risiko Mudah Tunai
Pendedahan Kumpulan kepada risiko mudah tunai timbul terutamanya daripada kegiatan pendanaan danperniagaan am.
Kumpulan mengamalkan pengurusan risiko mudah tunai berhemah dengan mengekalkan baki tunai dan pendanaanyang mencukupi melalui jumlah kemudahan kredit/ talian kredit yang komited untuk keperluan modal kerja.
Jadual berikut menunjukkan profil kematangan liabiliti kewangan pada akhir tempoh pelaporan berdasarkan alirantunai tidak didiskaunkan kontrak (termasuk bayaran faedah dikira dengan menggunakan kadar kontrak atau, sekiranyaterapung, berdasarkan kadar pada akhir tempoh pelaporan):
Aliran Tunai <--------------- Kematangan ---------------->Tidak Dalam
Jumlah Didiskaunkan Masa 1–5 MelebihiPenyimpanan Kontrak 1 Tahun Tahun 5 Tahun
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000
2010
Pemiutang 66,732 66,732 66,472 260 –Jumlah terhutang kepada
pihak berkaitan 33 33 33 – –Pemiutang sewa beli 424 493 98 357 38Pinjaman berjangka 244,472 261,947 109,194 152,753 –
311,661 329,205 175,797 153,370 38
2009
Pemiutang 125,297 125,297 125,056 241 –Jumlah terhutang kepada
pihak berkaitan 236 236 236 – –Jumlah terhutang kepada
syarikat bersekutu 1,975 1,975 1,975 – –Pemiutang sewa beli 82 95 22 73 –Pinjaman berjangka 445,000 478,423 262,884 215,539 –
572,590 606,026 390,173 215,853 –
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 247
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(iii) Risiko Mudah Tunai (Samb)
Aliran Tunai <--------------- Kematangan ---------------->Tidak Dalam
Jumlah Didiskaunkan Masa 1–5 MelebihiPenyimpanan Kontrak 1 Tahun Tahun 5 Tahun
Syarikat RM’000 RM’000 RM’000 RM’000 RM’000
2010
Pemiutang 8,787 8,787 8,573 214 –Jumlah terhutang kepada
anak-anak syarikat 123,839 123,839 123,839 – –Jumlah terhutang kepada
pihak berkaitan 32 32 32 – –Pemiutang sewa beli 363 422 77 307 38Pinjaman berjangka 199,823 215,539 105,188 110,351 –
332,844 348,619 237,709 110,872 38
2009
Pemiutang 9,005 9,005 8,804 201 –Jumlah terhutang kepada
anak-anak syarikat 95,862 95,862 95,862 – –Jumlah terhutang kepada
syarikat bersekutu 1,975 1,975 1,975 – –Jumlah terhutang kepada
pihak berkaitan 3 3 3 – –Pinjaman berjangka 445,000 478,423 262,884 215,539 –
551,845 585,268 369,528 215,740 –
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
248 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(iii) Risiko Mudah Tunai (Samb)
Lindungan Nilai Aliran Tunai
Kumpulan memasuki swap kadar faedah mata wang bersilang USD-MYR untuk melindung nilai risiko aliran tunai dankadar faedah pinjaman berjangka kadar tetap mata wang asingnya sebagaimana dinyatakan dalam Nota 24(d) kepadapenyata kewangan. Swap kadar faedah mata wang bersilang mempunyai nilai nominal yang sama dengan pinjamanberjangka sebanyak USD14,480,000 (bersamaan dengan RM46,408,400) dan diselesaikan secara suku tahunan,konsisten dengan jadual pembayaran balik pinjaman berjangka tersebut.
Swap kadar faedah mata wang bersilang telah ditetapkan sebagai lindungan aliran tunai dan telah dinilai sebagaiamat berkesan.
(b) Pengurusan Risiko Modal
Kumpulan menguruskan modalnya untuk memastikan agar entiti dalam Kumpulan akan dapat mengekalkan struktur modaloptimum untuk menyokong perniagaan dan memaksimumkan nilai pemegang (pemegang-pemegang) saham mereka. Untukmencapai objektif ini, Kumpulan boleh membuat pelarasan kepada struktur modal memandangkan perubahan dalam keadaanekonomi, seperti menyelaraskan jumlah bayaran dividen, mengembalikan modal kepada pemegang-pemegang saham ataumenerbitkan saham-saham baru.
Kumpulan menguruskan modalnya berdasarkan nisbah hutang kepada ekuiti. Strategi Kumpulan tidak berubah dari tahunkewangan sebelumnya. Nisbah hutang kepada ekuiti dikira sebagai hutang bersih dibahagikan dengan jumlah ekuiti. Hutangbersih dikira sebagai pinjaman campur pemiutang perdagangan dan lain-lain pemiutang tolak tunai dan setara tunai.
Nisbah hutang kepada ekuiti Kumpulan pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan2010 2009RM'000 RM'000
Hutang bersih 242,180 392,865
Jumlah ekuiti 504,252 564,249
Nisbah hutang kepada ekuiti 0.48 0.70
Kumpulan tidak melanggar sebarang keperluan penggearan dalam tahun-tahun kewangan berakhir 31 Disember 2009 dan31 Disember 2010.
Di bawah keperluan No. Nota Amalan 17/2005 Bursa Malaysia, Syarikat diperlukan untuk mengekalkan ekuiti pemegang-pemegang saham disatukan (jumlah ekuiti boleh dikaitkan dengan pemilik-pemilik Syarikat) bersamaan atau tidak kurang 25%daripada modal saham yang diterbitkan dan berbayar (tidak termasuk saham perbendaharaan) dan ekuiti pemegang-pemegang saham tersebut tidak kurang daripada RM40 juta. Syarikat telah mematuhi dengan keperluan ini.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 249
45. INSTRUMEN KEWANGAN (SAMB)
(c) Pengkelasan Instrumen Kewangan
Kumpulan Syarikat2010 2010RM'000 RM'000
Aset kewangan
Aset kewangan pinjaman dan penghutangDeposit boleh dikembalikan 90,930 –Penghutang 53,966 1,416Jumlah terhutang oleh anak-anak syarikat – 271Jumlah terhutang oleh pihak berkaitan 36,614 259Deposit tetap dengan bank berlesen 51,188 47,360Tunai dan baki bank 18,293 3,018
250,991 52,324
Liabiliti kewangan
Nilai saksama melalui keuntungan atau kerugianLiabiliti derivatif 3,070 –
Lain-lain liabiliti kewanganPemiutang 66,732 8,787Jumlah terhutang kepada anak-anak syarikat – 123,839Jumlah terhutang kepada pihak berkaitan 33 32Pinjaman 244,896 200,186
314,731 332,844
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
250 Petra Perdana Berhad
45. INSTRUMEN KEWANGAN (SAMB)
(d) Nilai Saksama Instrumen Kewangan
Jumlah penyimpanan aset kewangan dan liabiliti kewangan dilaporkan dalam penyata kewangan menyamai dengan nilaisaksamanya kecuali bagi yang berikut:
2010 2009Jumlah Nilai Jumlah Nilai
Penyimpanan Saksama Penyimpanan SaksamaRM RM RM RM
Kumpulan
Deposit boleh dikembalikan 90,930 90,222 98,221 65,681Pinjaman 244,472 223,940 445,000 419,739
Syarikat
Pinjaman 199,823 185,993 445,000 419,739
Yang berikut meringkaskan kaedah-kaedah digunakan dalam menentukan nilai saksama instrumen kewangan:
(i) Aset kewangan dan liabiliti kewangan yang matang dalam masa dua belas (12) bulan berikutnya menyamai nilaisaksamanya disebabkan oleh kematangan jangka pendek instrumen kewangan.
(ii) Nilai saksama deposit boleh dikembalikan dan pinjaman ditentukan dengan mendiskaunkan aliran tunai berkenaandengan menggunakan kadar faedah bagi instrumen serupa pada akhir tempoh pelaporan.
(iii) Nilai saksama instrumen derivatif adalah berdasarkan sebut harga broker.
Kadar faedah digunakan untuk mendiskaunkan anggaran aliran tunai, di mana terpakai, adalah seperti berikut:
Kumpulan Syarikat2010 2009 2010 2009% % % %
Deposit boleh dikembalikan 5.03 4.46 – –Pinjaman 6.15 5.55 6.30 5.55
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 251
46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN
Butir-butir mengenai peristiwa-peristiwa penting dalam tahun kewangan adalah seperti berikut:
(i) Pada 23 Disember 2009, Syarikat menerima Perintah Ex-Parte Interim oleh Mahkamah Tinggi Kuala Lumpur (“MahkamahTinggi”) (Bahagian Dagang) melalui Guaman No. 22NCC 735-2009 (“Guaman Derivatif”), menetapkan perbicaraan antarapihak pada 11 Januari 2010 untuk menyekat Syarikat, Y.M. Tengku Dato’ Ibrahim Petra Bin Tengku Indra Petra (“TIP”) dantiga (3) pengarah Syarikat yang lain (secara kolektif dirujuk sebagai “Bekas Pengarah”) dan TA Securities Holdings Berhad(“TA Securities”) daripada melupus pelaburan 29.59% saham selebihnya yang dipegang oleh Syarikat dalam Petra EnergyBerhad (“PEB”) sehingga rekuisisi Encik Shamsul Bin Saad (“Encik Shamsul”) bagi Mesyuarat Agung Luar Biasa pemegang-pemegang saham Syarikat dan/atau sehingga pelupusan akhir Guaman Derivatif yang mana lebih awal.
Guaman Derivatif adalah tindakan derivatif diambil oleh Encik Shamsul dalam keupayaan Encik Shamsul sebagai pemegangsaham minoriti Syarikat, bagi manfaat Syarikat. Pengataan dalam Guaman Deriviatif adalah, antara lainnya, pelanggarankewajipan fidusiari, kewajipan berjaga-jaga di sisi common law dan ekuiti serta juga kewajipan statutori oleh Bekas Pengarahtersebut di atas. Sebarang ganti rugi diperolehi akan diberikan semata-mata kepada Syarikat dan bukannya Encik Shamsul.
Hakim Mahkamah Tinggi pada 16 Ogos 2010 membebarkan permohonan oleh Bekas Pengarah terhadap Encik Shamsuldengan kos atas alasan, antara lainnya, bahawa Guaman Derivatif tidak lagi boleh dipertahankan mengambil kira perubahandalam keadaan, iaitu isu kawalan Syarikat.
(ii) Pada 6 Januari 2010, Syarikat menerima notis khas bagi pemecatan TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng danTiong Young Kong sebagai pengarah Syarikat, bersama dengan pemanggilan Mesyuarat Agung Luar Biasa selaras denganSeksyen 145 Akta Syarikat 1965 merangkap notis calon-calon iaitu, Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat BinAbdul Malik dan Ganesan A/L Sundaraj, sebagai pengarah selaras dengan Tataurusan 102(a) Tataurusan Pertubuhan Syarikat(“EGM”), daripada beberapa pemegang saham Syarikat.
Pada 4 Februari 2010, EGM telah diadakan dan resolusi biasa yang dijadualkan sebagai resolusi 1 hingga resolusi 8 telahdiluluskan berakhir dengan pemecatan TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng and Tiong Young Kong sebagaipengarah Syarikat dan pelantikan Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat Bin Abdul Malik dan Ganesan A/LSundaraj, sebagai pengarah.
(iii) Pada 2 Februari 2010, Intra Oil Services Berhad (“IOS”) mengambil tindakan undang-undang terhadap Encik Shamsul andAsia Marine Pte. Ltd. (“AMPL”) dalam Mahkamah Tinggi Kuala Lumpur melalui No. Guaman D-27NCC-2-2010 (“Guaman”)berhubung dengan penandatanganan Perjanjian Broker (Komisen) bertarikh 9 Mac 2009 (“BCA”). Dalam guaman, IOSmendakwa, antara lainnya, bahawa Encik Shamsul telah melanggar kewajipan fidusiari dan/ atau obligasi beliau terhadapIOS memandangkan bayaran telah dibuat kepada AMPL sebelum BCA ditandatangani.
Pada 23 Februari 2010, Lembaga Pengarah IOS, kecuali bagi Encik Shamsul yang telah berkecuali daripada perbincangandan pengundian mengenai perkara, mengkaji guaman undang-undang dan mendapati bahawa guaman undang-undangsebagai tidak berasas sama sekali. IOS kemudiannya telah menarik balik guaman undang-undang. ‘Notis Pemberhentian’ telahdifailkan dengan Mahkamah Tinggi Kuala Lumpur pada hari yang sama.
(iv) Pada 9 Februari 2010, Syarikat mengumumkan bahawa pelupusan Petra Endeavour kepada Petra Innotech Sdn. Bhd. selesaidilaksanakan pada 27 Januari 2010.
(v) Pada 12 Februari 2010, Syarikat membuat prabayaran Tranche 3 dan Tranche 4 Kemudahan B dan sebahagian daripadaTranche 2 Kemudahan B (RM150 juta pinjaman berjangka boleh pindah bersindiket) berjumlah RM108 juta.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
252 Petra Perdana Berhad
46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN (SAMB)
(vi) Pada 18 Mac 2010, IOS menerima kemudahan Pembiayana-i Berjangka Murabahah Komoditi sebanyak USD14.48 jutauntuk membiayai pembelian satu (1) unit bot kerja iaitu, Petra Sovereign untuk tempoh selama lima (5) tahun.
(vii) Pada 19 Mac 2010, Syarikat meminta syarikat bersekutunya, PEB untuk membayar balik keseluruhan jumlah belum dijelasdengan serta-merta.
(viii) Pada 31 Mac 2010, Perdana Mercury Limited (“PML”) membuat penghantaran bot tunda kendalian sauh dan kapal bekalan(“AHTS”), iaitu Petra Admiral dan menandatangani Carter Bareboat dengan Mount Tahan LLC untuk memajak balik kapaltersebut untuk tempoh selama 120 bulan.
(ix) Pembelian Petra Sovereign selesai dilaksanakan selepas penghantaran kapal kepada IOS sebagai nomini bagi Perdana VenusLimited (“PVL”) pada 3 Mei 2010.
(x) Pada 20 Mei 2010, PVL menandatangani Memorandum Perjanjian (“MOA”) dengan Mount Bintang LLC untuk melupuskanPetra Liberty dan Petra Excelsiornya masing-masing bagi balasan sebanyak USD18 juta dan USD25 juta.
Selepas pelupusan, PML menandatangani Carter Bareboat dengan Mount Bintang LLC untuk memajak balik kapal tersebutuntuk tempoh selama enam puluh (60) bulan bermula dari tarikh penyerahan masing-masing ke atas dua (2) kapal denganopsyen untuk membeli kapal masing-masing pada akhir tempoh carter atas terma-terma dan syarat-syarat sebagaimanaditetapkan dalam Perjanjian Opsyen ditandatangani di antara PML dan Mount Bintang LLC.
(xi) Pada 21 Mei 2010, IOS memfailkan tindakan dalam Mahkamah Tinggi melalui Writ Saman (No. Guaman D-22NCC-1005-2010)(“Guaman IOS”) terhadap bekas pengarah IOS, iaitu TIP, Tiong Young Kong dan Wong Fook Heng bagi pelanggaran kewajipanfidusiari dan/ atau kewajipan di sisi common law terhadap IOS.
Pada 20 Disember 2010, IOS memutuskan untuk menamatkan Guaman IOS dengan tidak ada perintah mengenai kos dantanpa kebebasan untuk memfailkan guaman baru.
(xii) Pada 26 Mei 2010, Syarikat mengumumkan bahawa Syarikat, bersama dengan Encik Shamsul, sebagai pemegang-pemegangsaham benefisial PEB, memberikan notis khas kepada PEB mengenai hasrat bersama mereka untuk mencadangkan resolusibagi memecat TIP, Lee Mee Jiong, Suhaimi Badrul Jamil sebagai pengarah PEB dan untuk melantik Koh Pho Wat dan SuryaHidayat Bin Abdul Malik sebagai pengarah PEB. Pekeliling kepada pemegang-pemegang saham PEB bertarikh 31 Mei 2010telah dihantar untuk mengadakan mesyuarat agung luar biasa pada 24 Jun 2010 (“PEB EGM”).
Pada 17 Jun 2010, Encik Suhaimi Badrul Jamil meletak jawatan sebagai pengarah PEB dan pada 18 Jun 2010, TIP dan LeeMee Jiong meletak jawatan sebagai pengarah PEB.
Pada 24 Jun 2010, Syarikat bersama dengan Encik Shamsul, menarik balik cadangan resolusi mengenai pelantikan Tetuan KohPho Wat dan Encik Surya Hidayat Bin Abdul Malik pada EGM PEB memandangkan Syarikat telah menerima surat daripadaPEB bertarikh 22 Jun 2010 mempelawa Syarikat untuk mencalonkan wakil(wakil-wakil) kepada lembaga pengarah PEB.
Pada 13 Julai 2010, Surya Hidayat Bin Abdul Malik telah dilantik kepada lembaga pengarah PEB sebagai pengarah bukanbebas dan bukan eksekutif.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 253
46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN (SAMB)
(xiii) Pada 22 Jun 2010, Syarikat mengumumkan bahawa ia telah menerima surat daripada pemegang-pemegang saham tertentuSyarikat, iaitu Chow Lean Keat, Datin Che Nariza Hajjar Hashim, Ramilah Joannah Sulaiman dan Nik Ismail Bin Tengku BesarIndra Raja yang mencalonkan calon mereka masing-masing, John Pang Yun Nian, Dato’ Syed Norulzaman Bin SyedKamarulzaman, Suhaimi Bin Badrul Jamil dan Dato’ Shaik Sulaiman Bin S. Mohamed Ismail bagi pemilihan ke jawatanpengarah Syarikat.
Pada 24 Jun 2010, Syarikat telah disampaikan oleh peguam cara Datin Che Nariza Hajjar Hashim dan peguam cara NikIsmail Bin Tengku Besar Indra Raja and Ramilah Joannah Sulaiman, salinan bersetem Saman Dalam Kamar bertarikh 23 Jun2010 dan Saman Pemula bertarikh 23 Jun 2010 bersama dengan salinan Afidavit Sokongan berhubung dengan penundaanMesyuarat Agung Tahunan (“AGM”) Syarikat yang akan datang untuk diadakan pada 28 Jun 2010 sehingga tarikh tertentuselepas pelupusan Saman Pemula.
Pada 28 Jun 2010, Syarikat mengumumkan bahawa Mahkamah Tinggi telah memberikan perintah bagi AGM Keempat Belasuntuk memulakan dengan resolusi nombor 1, 2, 7, 8, 9 dan 10 manakala penjadualan dan pengundian bagi resolusi nombor3, 4, 5, dan 6 sebagaimana diperincikan dalam notis resolusi tambahan bertarikh 21 Jun 2010 akan dilakukan pada AGMyang ditunda. AGM ditunda telah diadakan pada 20 Julai 2010 di One World Hotel, Kuala Lumpur.
Pada 1 Julai 2010, Syarikat mengumumkan bahawa pada 30 Jun 2010, peguam caranya telah memfailkan dalam NotisRayuan kepada Mahkamah Rayuan berhubung dengan keputusan Mahkamah Tinggi diberikan pada 28 Jun 2010 (“Rayuan”).Pada hari yang sama, Syairkat memaklumkan bahawa mereka telah menerima surat bertarikh 30 Jun 2010 daripada JohnPang Yun Nian, menarik balik kebenaran beliau kepada pencalonan oleh pemegang saham, Chow Lean Keat, yangmencalonkan beliau bagi pemilihan sebagai pengarah Syarikat.
Pada 15 Julai 2010, Syarikat selanjutnya mengumumkan bahawa mereka telah menerima tiga (3) surat, kesemuanya masing-masing bertarikh 14 Julai 2010, daripada Ramilah Joannah Sulaiman, Datin Che Nariza Hajjar Hashim dan Nik Ismail BinTengku Besar Indra Raja menarik balik pencalonan mereka ke atas Suhaimi Bin Badrul Jamil, Dato’ Syed Norulzaman Bin SyedKamarulzaman dan Dato’ Shaik Sulaiman Bin S. Mohamed Ismail sebagai pengarah Syarikat. Selain daripada itu, nomini-nomini ini juga telah menarik balik notis pencalonan mereka masing-masing sebagai pengarah Syarikat bertarikh 8 Jun 2010pada tarikh yang sama melalui surat kesemuanya bertarikh 14 Julai 2010.
Pada 8 September 2010, Syarikat mengumumkan bahawa perbicaraan Rayuan telah didengar oleh Mahkamah Rayuan pada7 September 2010 dan Mahkamah Rayuan memutuskan bahawa Rayuan telah dianggap akademik atas alasan penarikanbalik pencalonan masing-masing dalam persoalan. Mahkamah Rayuan membuang kedua-dua Rayuan dengan tidak adaperintah mengenai kos dan selanjutnya diperintahkan bahawa deposit Rayuan untuk dikembalikan kepada Syarikat. Merit-merit Rayuan substantif tidak didengar tidak juga disuarakan.
(xiv) Pada 2 Julai 2010, Syarikat mengumumkan penyelesaian penempatan persendirian sebanyak 29,760,000 saham biasa barubernilai RM0.50 sesaham dalam Syarikat berikutan dengan penyenaraian dan sebut harga bagi saham-saham baru tersebutpada Pasaran Utama Bursa Malaysia Securities Berhad (“Bursa Securities”) yang telah diterbitkan dan diperuntukkan pada30 Jun 2010 pada harga terbitan RM1.32 setiap saham.
(xv) Pada 11 Ogos 2010, PVL memberikan notis pembatalan MOA berhubung dengan SK 202 Vessel kepada Nam CheongDockyard Sdn. Bhd. (“NCD”) dan NCD telah bersetuju untuk mengembalikan sepenuhnya semua deposit dibayar lebih awalsebanyak USD8.85 juta.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
254 Petra Perdana Berhad
46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN (SAMB)
Akibat daripada pembatalan, sebahagian daripada perolehan daripada penempatan persendirian berjumlah RM19.78juta yang sebelum ini dihasratkan untuk digunakan terhadap bayaran SK 202 Vessel yang telah ditandakan untuk tujuanmodal kerja.
(xvi) Pada 1 November 2010, Syarikat mengumumkan penyelesaian terbitan hak boleh lepas sebanyak RM0.50 sesaham dalamSyarikat berikutan dengan penyenaraian dan sebut harga bagi saham-saham baru pada Pasaran Utama Bursa Securities yangtelah diterbitkan dan diperuntukkan pada 27 Oktober 2010 pada harga terbitan RM0.59 setiap saham.
(xvii) Pada 19 November 2010, Perdana Nautika Sdn. Bhd. (“PNSB”) telah diperbadankan dengan modal saham yang diterbitkandan berbayar bernilai RM2.00 sesaham dibahagikan dengan 2 saham biasa bernilai RM1.00. Kegiatan utama PNSB adalahuntuk menyediakan perkhidmatan sokongan marin luar pesisir bagi industri minyak dan gas huluan dalam pasaran domestik.
Pada 28 Disember 2010, Syarikat mengumumkan bahawa ia selanjutnya telah melanggan bagi 54,998 saham biasa barutambahan bernilai RM1.00 sesaham pada tara dalam modal saham PNSB mewakili 55% daripada modal saham PNSB yangdiperbesarkan. Baki sebanyak 45% pegagan ekuiti dalam modal saham PNSB yang diperbesarkan telah dilanggan olehKelana Teroka Sdn. Bhd., 100% syarikat bumiputra diperbadankan di Malaysia dengan pengalaman dalam perkhidmatansokongan marin luar pesisir. Antara lain, PNSB dalam strukturnya untuk melaksanakan syarat-syarat Lesen Petronas bagiperkhidmatan sokongan marin luar pesisir domestik.
47. PERISTIWA PENTING BERLAKU SELEPAS TEMPOH PELAPORAN
Ampangship Marine Sdn. Bhd. (“AMS”) menandatangani MOA bertarikh 23 Mac 2011 untuk melupuskan kapal tunda kerjakemudahannya iaitu, Emerald kepada PT PANN (Persero), sebuah syarikat yang diperbadankan di Indonesia bagi jumlah balasantunai sebanyak USD8.2 juta. Pelupusan selesai dilaksanakan selepas penghantaran kapal tunda kerja kemudahann kepada PTPANN (Persero) pada 8 April 2011.
48. ANGKA-ANGKA PERBANDINGAN
Angka-angka perbandingan berikut telah dikelaskan semula untuk menyamai dengan pembentangan tahun kewangan semasa:
Kumpulan SyarikatSebagaimana Sebagaimana Sebagaimana SebagaimanaDinyatakan Dilaporkan Dinyatakan DilaporkanSemula Sebelum Ini Semula Sebelum IniRM’000 RM’000 RM’000 RM’000
Penyata Kedudukan Kewangan (Petikan):
Aset Bukan SemasaJumlah terhutang oleh anak-anak syarikat – – 353,576 329,715Deposit boleh dikembalikan 98,221 75,106 – –
Aset SemasaPenghutang 97,827 120,942 15,104 38,965
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
laporan tahunan2010 255
49. MAKLUMAT TAMBAHAN - PENDEDAHAN MENGENAI KEUNTUNGAN DINYATAKAN DAN TIDAK DINYATAKAN
Pada 25 Mac 2010, Bursa Securities menerbitkan arahan kepada semua pembuat terbitan tersenarai selaras dengan Perenggan2.06 dan 2.23 Syarat-syarat Penyenaraian Pasaran Utama Bursa Securities. Arahan memerlukan agar semua pembuat terbitantersenarai untuk mendedahkan pecahan daripada keuntungan tidak diasingkan atau kerugian terkumpul pada akhir tempohpelaporan, kepada keuntungan atau kerugian direalis dan tidak direalis.
Pada 20 Disember 2010, Bursa Securities selanjutnya mengeluarkan panduan mengenai pendedahan dan format yang diperlukan.
Pecahan daripada keuntungan tertahan Kumpulan pada 31 Disember 2010, kepada keuntungan direalis dan tidak direalis, selarasdengan arahan, adalah seperti berikut:
Kumpulan Syarikat2010 2010RM'000 RM'000
Jumlah keuntungan tertahan:– direalis 189,677 138,071– tidak direalis (29,406) 45
160,271 138,116Jumlah bahagian keuntungan tertahan daripada syarikat bersekutu:– direalis 60,508 –– tidak direalis (7,935) –
212,844 138,116
Tolak: Pelarasan penyatuan 27,954 –
Pada 31 Disember 240,798 138,116
Penentuan keuntungan direalis dan tidak direalis dikumpulkan berdasarkan Panduan mengenai Perkara Khas No. 1, PenentuanKeuntungan atau Kerugian Direalis dan Tidak Direalis dalam Konteks Pendedahan Selaras dengan Syarat-syarat PenyenaraianBursa Securities, dikeluarkan oleh Institut Akauntan Malaysia pada 20 Disember 2010.
Pendedahan keuntungan direalis dan tidak direalis di atas adalah semata-mata untuk mematuhi dengan syarat-syarat pendedahanditetapkan dalam arahan Bursa Securities dan tidak boleh digunakan untuk sebarang tujuan lain.
Nota-nota Kepada Penyata Kewangan (samb)Bagi Tahun Kewangan Berakhir 31 Disember 2010
256 Petra Perdana Berhad
List of Properties as at 31 December 2010
Senarai Hartanah pada 31 Disember 2010
REMAINING AGE OFLEASE PERIOD/ PROPERTY/
STATUS/ TEMPOH PAJAKAN USIA NBV/ADDRESS/ALAMAT DESCRIPTION/JENIS KEDUDUKAN YANG TINGGAL HARTANAH NBB
Petra Perdana Berhad Shop Office/ Leasehold/ 65 12 1,664No. 4, Jalan 3/3C, Batu 7, Kedai Pejabat Pegangan PajakOff Jalan Ipoh,68100 Kuala Lumpur
laporan tahunan2010annual report 257
Statistical Report as at 29 April 2011
Laporan Statistik pada 29 April 2011
ANALYSIS BY SIZE OF WARRANT HOLDINGS/ ANALISIS SAIZ PEGANGAN WARAN
No. of Warrants in issue/Bil. Waran yang diterbitkan : 61,379,785Exercise Price of Warrants/Harga Pelaksanaan Waran : RM1.00Expiry Date of Warrants/Tarikh Luput Waran : 26 October 2015Voting Rights at Warrant Holders’ Meeting /Hak Mengundi di Mesyuarat Pemegang Waran : One vote per warrant held/ Satu undian bagi setiap pegangan waran
NO. OF % OF NO. OF % OFWARRANT WARRANT WARRANT WARRANTHOLDERS/ HOLDERS/ HOLDING/ ISSUED/
BIL. PERATUS BIL. PERATUSSIZE OF HOLDINGS/ PEMEGANG PEGANGAN PEGANGAN WARANSAIZ PEGANGAN WARAN WARAN WARAN DITERBITKAN
Less than/ kurang daripada 100 207 6.50 9,884 0.02100 – 1,000 1,070 33.57 607,564 0.991,001 – 10,000 1,258 39.47 5,783,459 9.4210,001 – 100,000 579 18.17 19,042,409 31.02100,001 – less than 5% of issued Warrants 71 2.23 24,776,469 40.37
tidak sampai 5% saham terbitan5% and above of issued Warrants 2 0.06 11,160,000 18.18
atau lebih saham terbitan
Total/Jumlah 3,187 100.00 61,379,785 100.00
LIST OF DIRECTORS’ WARRANT HOLDINGS AS AT 29 APRIL 2011/SENARAI PEGANGAN WARAN PARA PENGARAH PADA 29 APRIL 2011
NO. OF WARRANTS/BILANGAN WARAN
DIRECT INTEREST/ % INDIRECT INTEREST/ %NAME OF DIRECTORS/ KEPENTINGAN PERATUS KEPENTINGAN PERATUSNAMA PENGARAH LANGSUNG TIDAK LANGSUNG
Dato' Kho Poh Eng 2,844,724 4.63 14,466# 0.02
Koh Pho Wat 2,934,200 4.78 42,484# 0.07
Shamsul Saad 673,687 1.26 1,312# –
Surya Hidayat Abdul Malik – – – –
Ganesan Sundaraj – – – –
Raja Anuar Raja Abu Hassan – – – –
Idris Zaidel – – – –
Hamdan Rasid – – – –
Note:# Deemed interest pursuant to Section 134(12)(c) of the Companies Act, 1965./
Dianggap sebagai kepentingan selaras dengan Seksyen 134(12)(c) Akta Syarikat, 1965.
258 Petra Perdana Berhad
THIRTY LARGEST WARRANT HOLDERS AS AT 29 APRIL 2011/TIGA PULUH (30) PEMEGANG WARAN TERBESAR PADA 29 APRIL 2011
% OF WARRANTSNO. OF ISSUED/
WARRANTS/ PERATUS MODALNO./ NAME OF WARRANT HOLDERS/ BILANGAN WARANBIL. NAMA PEMEGANG WARAN WARAN DITERBITKAN
1. Lembaga Tabung Haji 5,580,000 9.09
2. Nam Cheong Dockyard Sdn Bhd 5,580,000 9.09
3. Alliancegroup Nominees (Tempatan) Sdn Bhd 2,924,201 4.76Pledged securities account for Koh Pho Wat
4. Kho Poh Eng 1,957,224 3.19
5. Lee Kek Ming 1,950,000 3.18
6. Upstream Downstream Process & Services Sdn Bhd 833,400 1.36
7. Alliancegroup Nominees (Tempatan) Sdn Bhd 793,750 1.29Pledged securities account for Kho Poh Eng
8. Kong Yoke Chan 700,000 1.14
9. CIMSEC Nominees (Tempatan) Sdn Bhd 650,250 1.06CIMB Bank for Shamsul Saad
10. Citigroup Nominees (Asing) Sdn Bhd 637,562 1.04Exempt An for OCBC Securities Private Limited
11. HSBC Nominees (Asing) Sdn Bhd 587,499 0.96Exempt An for The Bank of New York Mellon SA/NV
12. Ang Eng Huat 500,000 0.81
13. TA Nominees (Tempatan) Sdn Bhd 500,000 0.81Pledged securities account for Loh Tai Cheong @ Chin Tai Cheong
14. Tan Geng Sing 490,000 0.80
15. RHB Nominees (Asing) Sdn Bhd 455,000 0.74Pledged securities account for Tan Geng Sing
laporan tahunan2010annual report 259
Statistical Report as at 29 April 2011 (cont’d)Laporan Statistik pada 29 April 2011 (samb)
THIRTY LARGEST WARRANT HOLDERS AS AT 29 APRIL 2011 (CONT’D)/TIGA PULUH (30) PEMEGANG WARAN TERBESAR PADA 29 APRIL 2011 (SAMB)
% OF WARRANTSNO. OF ISSUED/
WARRANTS/ PERATUS MODALNO./ NAME OF WARRANT HOLDERS/ BILANGAN WARANBIL. NAMA PEMEGANG WARAN WARAN DITERBITKAN
16. Chan Choon Ngai 400,000 0.65
17. AMSEC Nominees (Tempatan) Sdn Bhd 350,437 0.57AmTrustee Berhad for Pacific Pearl Fund
18. Ng Saw Thong 340,000 0.55
19. AMSEC Nominees (Tempatan) Sdn Bhd 330,000 0.54Pledged securities account for Tan Lee Seng
20. CIMSEC Nominees (Tempatan) Sdn Bhd 309,600 0.50CIMB Bank for Hooi Hing Lee
21. RHB Capital Nominees (Tempatan) Sdn Bhd 300,075 0.49Pledged securities account for Chi Kain Sang
22. Kuasatek (M) Sdn Bhd 300,000 0.49
23. Mayban Securities Nominees (Tempatan) Sdn Bhd 300,000 0.49Pledged securities account for Lourds Easurajan A/L Arulanandam
24. RHB Nominees (Tempatan) Sdn Bhd 300,000 0.49RHB Investment Management Sdn Bhd for Yoong Kah Yin
25. Soon Fook Kian 294,000 0.48
26. JF Apex Nominees (Tempatan) Sdn Bhd 290,000 0.47Pledged securities account for Chow Heng Lan
27. Loh Yet Kong 290,000 0.47
28. Tan Hock Leong 277,300 0.45
29. Kwan Yok Fun 271,933 0.44
30. Mayban Nominees (Tempatan) Sdn Bhd 269,000 0.44Lo Mui Yun @ Jill Lo
260 Petra Perdana Berhad
ANALYSIS BY SIZE OF SHAREHOLDINGS/ ANALISIS OLEH SAIZ PEGANGAN SAHAM
Authorised Share Capital/Modal Saham Dibenarkan : RM500,000,000Issued and Paid-up Share Capital/ : RM225,060,000 divided into/membahagikan 450,120,000 ordinaryModal yang Diterbitkan dan Berbayar shares of/Saham biasa bernilai RM0.50 each/sesahamClass of Shares/Kelas Saham : Ordinary shares of/Saham biasa bernilai RM0.50 each/sesahamVoting Rights/Hak Mengundi : One vote per ordinary share held/
Satu undi bagi setiap saham biasa yang dipegang
% OF ISSUEDAND PAID-UP
NO. OF % OF SHARE CAPITAL/SHAREHOLDERS/ SHAREHOLDERS/ NO. OF PERATUS MODAL
BILANGAN PERATUS SHARES/ SAHAMSIZE OF SHAREHOLDINGS/ PEMEGANG PEMEGANG BILANGAN DITERBITKAN DANSAIZ PEGANGAN SAHAM SAHAM SAHAM SAHAM DIBAYAR
Less than/kurang daripada 100 180 1.86 7,479 0.00100 – 1,000 886 9.23 685,957 0.151,001 – 10,000 5,691 59.30 30,310,038 6.7310,001 – 100,000 2,500 26.05 76,202,589 16.93100,001 – less than 5% of issued shares 338 3.52 261,073,937 58.00
tidak sampai 5% saham terbitan5% and above of issued shares 2 0.02 81,840,000 18.18
atau lebih saham terbitan
Total/Jumlah 9,597 100.00 450,120,000 100.00
LIST OF DIRECTORS’ SHAREHOLDING AS AT 29 APRIL 2011/SENARAI PEGANGAN SAHAM PARA PENGARAH PADA 29 APRIL 2011
NO. OF SHARES/BILANGAN SAHAM
DIRECT INTEREST/ % INDIRECT INTEREST/ %NAME OF DIRECTORS/ KEPENTINGAN PERATUS KEPENTINGAN PERATUSNAMA PENGARAH LANGSUNG TIDAK LANGSUNG
Dato' Kho Poh Eng 19,885,078 4.42 100,000# 0.02
Koh Pho Wat 22,517,731 4.78 311,000# 0.07
Shamsul Saad 11,584,375 2.57 9,625# –
Surya Hidayat Abdul Malik – – – –
Ganesan Sundaraj – – – –
Raja Anuar Raja Abu Hassan – – – –
Idris Zaidel – – – –
Hamdan Rasid – – – –
Note:
# Deemed interest pursuant to Section 134(12)(c) of the Companies Act, 1965./Kepentingan anggapan selaras dengan Seksyen 134 (12)(c) Akta Syarikat, 1965.
laporan tahunan2010annual report 261
Statistical Report as at 29 April 2011 (cont’d)Laporan Statistik pada 29 April 2011 (samb)
SHARES IN RELATED CORPORATION
None of the above Directors has any direct interest in shares in the related corporation as at 29 April 2011./Tiada Pengarah yang dinamakan di atas mempunyai kepentingan langsung dalam saham-saham syarikat berkaitan pada 29 April 2011
SUBSTANTIAL SHAREHOLDERS AS AT 29 APRIL 2011/PEMEGANG SAHAM UTAMA PADA 29 APRIL 2011
NO. OF SHARES/BILANGAN SAHAM
DIRECT INTEREST/ INDIRECT INTEREST/NAME/ KEPENTINGAN % KEPENTINGAN %NAMA LANGSUNG PERATUS TIDAK LANGSUNG PERATUS
Lembaga Tabung Haji 40,920,000 9.09 1,207,475@ 0.27
Nam Cheong Dockyard Sdn Bhd 40,920,000 9.09 – –
S.K. Tiong Enterprise Sdn Bhd – – 40,920,000@ 9.09
Hung Yung Enterprise Sdn Bhd – – 40,920,000@ 9.09
Datuk Tiong Su Kuok – – 40,920,000@ 9.09
Unione Enterprise (S) Sdn Bhd – – 40,920,000@ 9.09
Lau Pek Kii – – 40,920,000@ 9.09
Chen Sien Ngo – – 40,920,000@ 9.09
Lau Liong Kii 72,500 0.02 40,920,000@ 9.09
Ting Yong Ding 41,250 0.01 40,920,000@ 9.09
Note:
@ Deemed interest pursuant to Section 6A of the Companies Act, 1965./Dianggap sebagai kepentingan selaras dengan Seksyen 6A Akta Syarikat 1965.
262 Petra Perdana Berhad
THIRTY LARGEST SHAREHOLDERS AS AT 29 APRIL 2011/TIGA PULUH (30) PEMEGANG SAHAM TERBESAR PADA 29 APRIL 2011
% OF ISSUEDAND PAID-UP
SHARE CAPITAL/NO. OF PERATUS MODALSHARES/ SAHAM
NO./ NAME OF SHAREHOLDERS/ BILANGAN DITERBITKAN DANBIL. NAMA PEMEGANG SAHAM SAHAM DIBAYAR
1. Lembaga Tabung Haji 40,920,000 9.09
2. Nam Cheong Dockyard Sdn Bhd 40,920,000 9.09
3. Alliancegroup Nominees (Tempatan) Sdn Bhd 21,444,400 4.76Pledged securities account for Koh Pho Wat
4. Amanahraya Trustees Berhad 15,591,300 3.46Amanah Saham Wawasan 2020
5. SBB Nominees (Tempatan) Sdn Bhd 12,496,320 2.78Kumpulan Wang Persaraan (Diperbadankan)
6. Kho Poh Eng 11,914,448 2.65
7. CIMSEC Nominees (Tempatan) Sdn Bhd 11,412,500 2.54CIMB Bank for Shamsul Bin Saad
8. Cosmos Time Sdn Bhd 10,463,496 2.32
9. Yap Ah Fatt 6,400,000 1.42
10. HSBC Nominees (Asing) Sdn Bhd 6,200,000 1.38Exempt An for JPMorgan Chase Bank, National Association
11. Citigroup Nominees (Asing) Sdn Bhd 5,919,500 1.32Exempt An for Merrill Lynch Pierce Fenner & Smith Incorporated
12. Alliancegroup Nominees (Tempatan) Sdn Bhd 4,844,600 1.08Pledged securities account for Kho Poh Eng
13. RHB Nominees (Tempatan) Sdn Bhd 4,833,800 1.07RHB Investment Management Sdn Bhd for KumpulanWang Persaraan (Diperbadankan)
14. HSBC Nominees (Asing) Sdn Bhd 4,308,332 0.96Exempt An for The Bank of New York Mellon SA/NV
15. Cartaban Nominees (Asing) Sdn Bhd 3,966,400 0.88Exempt An for Caceis Bank Luxembourg
laporan tahunan2010annual report 263
THIRTY LARGEST SHAREHOLDERS AS AT 29 APRIL 2011(CONT’D)/TIGA PULUH (30) PEMEGANG SAHAM TERBESAR PADA 29 APRIL 2011(SAMB)
% OF ISSUEDAND PAID-UP
SHARE CAPITAL/NO. OF PERATUS MODALSHARES/ SAHAM
NO./ NAME OF SHAREHOLDERS/ BILANGAN DITERBITKAN DANBIL. NAMA PEMEGANG SAHAM SAHAM DIBAYAR
16. Universal Trustee (Malaysia) Berhad 2,900,000 0.64CIMB Islamic Small Cap Fund
17. HSBC Nominees (Asing) Sdn Bhd 2,797,700 0.62Exempt An for The Hong Kong AndShanghai Banking Corporation Limited
18. HSBC Nominees (Tempatan) Sdn Bhd 2,776,600 0.62HSBC (M) Trustee Bhd for Pertubuhan Keselamatan Sosial
19. AmBank (M) Berhad 2,438,530 0.54Pledged securities account for Kho Poh Eng
20. CIMB Group Nominees (Tempatan) Sdn Bhd 2,436,800 0.54AmTrustee Berhad for CIMB Islamic Dali Equity Theme Fund
21. Amsec Nominees (Tempatan) Sdn Bhd 2,300,275 0.51AmTrustee Berhad for Pacific Pearl Fund
22. Kam Loong Credit Sdn Bhd 2,300,000 0.51
23. Mayban Nominees (Tempatan) Sdn Bhd 2,268,000 0.53Mayban Trustees Berhad for RHB Capital Fund
24. Foo Khen Ling 2,200,000 0.49
25. HSBC Nominees (Tempatan) Sdn Bhd 2,129,300 0.47HSBC (M) Trustee Bhd for OSK-UOB Growth and Income Focus Trust
26. Mayban Nominees (Tempatan) Sdn Bhd 2,062,800 0.46Malaysian Trustees Berhad for AMB Smallcap Trust
27. HSBC Nominees (Tempatan) Sdn Bhd 1,989,600 0.44HSBC (M) Trustee Bhd for OSK-UOB Small Cap Opportunity Unit Trust
28. Kam Loong Mining Sdn Bhd 1,800,000 0.40
29. Soon Fook Kian 1,799,000 0.40
30. Mayban Nominees (Tempatan) Sdn Bhd 1,793,750 0.40Mayban Trustees Berhad for CIMB-Principal Small Cap Fund
264 Petra Perdana Berhad
Statistical Report as at 29 April 2011 (cont’d)Laporan Statistik pada 29 April 2011 (samb)
Notice of Annual General Meeting
NOTICE IS HEREBY GIVEN THAT the Fifteenth Annual General Meeting of the Company will be held at No. 6-8, Jalan 3/3C, Batu 7,Jalan Ipoh, 68100 Kuala Lumpur on Wednesday, 29 June 2011 at 11.00 a.m. for the following purposes:
AGENDA
1. To receive the Audited Financial Statements for the financial year ended 31 December 2010 and the Reports of the Directors andAuditors thereon.
2. To approve the payment of Directors’ fees. Resolution 1
3. To re-elect the following Directors retiring pursuant to the Articles of Association of the Company:
3.1 Koh Pho Wat (Article 103) Resolution 23.2 Ganesan Sundaraj (Article 103) Resolution 33.3 Hamdan Rasid (Article 109) Resolution 4
4. To re-appoint Auditors and to authorise the Board of Directors to fix their remuneration. Resolution 5
5. As Special BusinessTo consider and if thought fit, pass the following Resolutions:
ORDINARY RESOLUTION Resolution 6Authority to issue shares pursuant to Section 132D of the Companies Act, 1965
"THAT pursuant to Section 132D of the Companies Act, 1965 and subject always to the approval of the relevant authorities, theDirectors be and are hereby empowered to issue shares in the Company from time to time and upon such terms and conditions andfor such purposes as the Directors may deem fit provided that the aggregate number of shares issued pursuant to this resolution doesnot exceed 10% of the issued share capital of the Company for the time being and that the Directors be and are also empoweredto obtain the approval for the listing of and quotation for the additional shares so issued on the Bursa Malaysia Securities Berhadand that such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company."
SPECIAL RESOLUTION Resolution 7Change of Company’s Name
"THAT the name of the Company be changed from Petra Perdana Berhad to Perdana Petroleum Berhad with effect from the date ofthe issuance of the Certificate of Incorporation on Change of Name of the Company by the Companies Commission of MalaysiaAND THAT the Directors and the Secretary of the Company be and are hereby authorised to carry out all the necessary formalitiesin effecting the change of name."
By Order of the Board
LEONG OI WAH (MAICSA 7023802)Company Secretary
7 June 2011
2010annual report 265
Notes:
A member of the Company entitled to attend and vote at the above mentioned meeting is entitled to appoint a proxy to attend and votehis stead. Such proxy may but need not be a member of the Company and Section 149(1)(a) and (b) of the Companies Act, 1965 shallnot apply. Where there are two (2) or more proxies, the member shall specify the proportion of his shareholdings to be represented byeach proxy.
Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991,it may appoint at least one (1) proxy in respect of each securities account it holds with ordinary shares of the Company standing to thecredit of the said securities account.
The instrument appointing a proxy shall be in writing (in the common or usual form) under the hand of the appointor or of his attorneyduly authorized in writing or, if the appointor is a corporation, either under the seal or under the hand of an officer or attorney dulyauthorised.
The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certifiedcopy of that power or authority must be deposited at Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200Kuala Lumpur not less than forty-eight (48) hours before the time set for holding the meeting or adjourn meeting.
Explanatory notes on Special Business:
Ordinary Resolution
The proposed Ordinary Resolution will give powers to the Directors to issue up to a maximum ten per centum (10%) of the issued sharecapital of the Company for the time being for such purposes as the Directors would consider in the best interest of the Company. Thisauthority, unless revoked or varied by the Company at a general meeting, will expire at the next Annual General Meeting of the Company.
The general mandate sought for issue of securities is a renewal of the mandate that was approved by the shareholders on 28 June 2010(“Previous Mandate”). The Company had used the Previous Mandate for the Private Placement exercise as announced on 11 May 2010and raised proceeds of RM39.28 million through the issuance of 29,760,000 ordinary shares of RM0.50 each at an issue price ofRM1.32 each on 30 June 2010 for working capital purposes. The renewal of the general mandate is to provide flexibility to the Companyto issue new securities without the need to convene separate general meeting to obtain its shareholders’ approval so as to avoid incurringadditional cost and time. The purpose of this general mandate is for possible fund raising exercises including but not limited to furtherplacement of shares for purpose of funding of working capital, repayment of borrowings, payment of refundable deposits in respect ofsale and leaseback of vessels and/or investments.
Special Resolution
The proposed Special Resolution is to change the name of the Company to better reflect the activities of the Company and its subsidiariesin the oil and gas industry.
266 Petra Perdana Berhad
Notice of Annual General Meeting (cont’d)
Notis Mesyuarat Agung Tahunan
DENGAN INI NOTIS DIBERI BAHAWA Mesyuarat Agung Tahunan Kelima Belas Petra Perdana Berhad (“Syarikat”) akan diadakandi No. 6-8, Jalan 3/3C, Batu 7, Jalan Ipoh, 68100 Kuala Lumpur pada hari Isnin, 29 Jun 2011 jam 11.00 pagi untuk melaksanakanurusan-urusan berikut:
AGENDA
1. Untuk menerima Penyata Kewangan Beraudit bagi tahun kewangan berakhir 31 Disember 2010 dan Laporan-Laporan Pengarahdan Juruaudit mengenainya.
2. Untuk meluluskan bayaran yuran para Pengarah. Resolusi 1
3. Untuk melantik semula para Pengarah berikut yang bersara menurut Tataurusan Pertubuhan Syarikat:
3.1 Koh Pho Wat (Article 103) Resolusi 23.2 Ganesan Sundaraj (Article 103) Resolusi 33.3 Hamdan Rasid (Article 109) Resolusi 4
4. Untuk melantik semula Juruaudit dan untuk memberi kuasa kepada Lembaga Pengarah untuk Resolusi 5menetapkan imbuhan mereka.
5. Sebagai Urusan KhasUntuk menimbang dan jika difikirkan sesuai, meluluskan Resolusi berikut:
RESOLUSI BIASA Resolusi 6Kuasa untuk menerbitkan saham mengikut Seksyen 132D Akta Syarikat, 1965
"BAHAWA sentiasa tertakluk kepada kelulusan pihak berkuasa berkaitan dan menurut Seksyen 132D Akta Syarikat, 1965, paraPengarah adalah dan dengan ini diberi kuasa untuk menerbitkan saham Syarikat pada bila-bila masa dan atas terma dan syarattertentu dan untuk sebarang tujuan yang para Pengarah, menurut budi bicara mereka, fikirkan sesuai dengan syarat bahawabilangan agregat saham biasa yang akan diterbitkan tidak melebihi sepuluh peratus (10%) daripada jumlah modal sahamditerbitkan Syarikat pada masa penerbitan tersebut dan bahawa para Pengarah turut diberikan kuasa untuk mendapatkankelulusan penyenaraian dan sebut harga untuk saham tambahan yang diterbitkan di Bursa Malaysia Securities Berhad dan bahawakuasa berkenaan hendaklah terus berkuat kuasa sehingga tamat Mesyuarat Agung Tahunan Syarikat akan datang.”
RESOLUSI KHAS Resolusi 7Pertukaran Nama Syarikat
“BAHAWA nama Syarikat ditukar daripada Petra Perdana Berhad kepada Perdana Petroleum Berhad berkuat kuasa dari tarikhterbitan Perakuan Pemerbadanan Pertukaran Nama Syarikat oleh Suruhanjaya Syarikat Malaysia DAN BAHAWA para Pengarahdan Setiausaha Syarikat dengan ini dibenarkan menjalankan segala urusan yang perlu untuk melaksanakan pertukaran nama.”
Atas Perintah Lembaga
LEONG OI WAH (MAICSA 7023802)Setiausaha Syarikat
7 Jun 2010
laporan tahunan2010 267
Nota:
Seorang ahli Syarikat yang layak hadir dan mengundi di mesyuarat yang dinyatakan di atas, berhak untuk melantik seorang proksiuntuk menghadiri dan mengundi bagi pihaknya. Proksi tersebut boleh tetapi tidak semestinya seorang ahli Syarikat dan Seksyen149(1)(a) dan (b) Akta Syarikat, 1965 tidak digunapakai. Jika dua (2) orang atau lebih proksi dilantik, ahli yang melantik merekahendaklah menyatakan bahagian pegangan sahamnya yang akan diwakili oleh setiap proksi.
Jika seorang ahli Syarikat merupakan nomini yang diberi kuasa sebagaimana ditakrif di bawah Akta Industri Sekuriti (Depositori Pusat),1991, beliau boleh melantik sekurang-kurangnya satu (1) orang proksi bagi setiap akaun sekuriti yang dipegangnya dengan sahambiasa Syarikat yang berada dalam kedudukan kredit bagi akaun sekuriti tersebut.
Surat cara pelantikan seorang proksi hendaklah dalam bentuk tulisan (dalam bentuk am atau biasa) dengan ditandatangani olehpelantik atau peguam beliau yang telah diberi kuasa sewajarnya dalam tulisan atau, jika pelantik adalah sebuah perbadanan, samaada di bawah meterai atau di bawah tandatangan pegawai atau peguam yang telah diberi kuasa sewajarnya.
Surat cara pelantikan seorang proksi dan kuasa peguam atau kuasa lain, jika ada, yang telah ditandatangani atau satu salinankuasa atau autoriti yang disahkan hendaklah dihantar di Level 17, The Gardens North Tower, Mid Valley City, Lingkaran SyedPutra, 59200 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum masa ditetapkan untuk mesyuarat diadakan atausebarang penangguhannya.
Nota penjelasan mengenai Urusan-urusan Khas:
Resolusi Biasa
Cadangan Resolusi Biasa akan memberi kuasa kepada para Pengarah Syarikat, untuk menerbitkan sehingga maksimum sepuluh peratus(10%) jumlah saham modal diterbitkan Syarikat buat masa sekarang bagi tujuan yang dianggap kepentingan terbaik Syarikat. Kuasaini akan luput, melainkan dibatalkan atau diubah oleh Syarikat dalam mesyuarat agung, pada Mesyuarat Agung Tahunan Syarikat yangakan datang.
Mandat am yang diperlukan bagi terbitan sekuriti ialah pembaharuan kepada mandat am yang dluluskan oleh para pemegang sahampada 28 Jun 2010 (“Mandat Terdahulu”). Syarikat telah menggunakan Mandat Terdahulu dalam Peletakan Persendirian seperti yangdiumumkan pada 11 Mei 2010 dan menjana hasil RM39.28 juta melalui penerbitan 29,760,000 saham biasa RM0.50 setiap satudengan harga terbitan RM1.32 setiap satu pada 30 Jun 2010 bagi tujuan modal kerja.Pembaharuan semula mandat am ialah untukmemberikan fleksibiliti kepada Syarikat untuk menerbitkan sekuriti baru tanpa perlu memanggil mesyuarat agung yang lain bagimendapatkan kelulusan pemegang saham bertujuan mengelakkan pengeluaran kos dan masa tambahan. Tujuan mandat am ialahuntuk cadangan pelaksanaan pengumpulan dana yang termasuk tetapi tidak terhad kepada peletakan saham tambahan bagi tujuanpendanaan modal kerja, membayar balik pinjaman, membayar deposit boleh dikembalikan berhubung penjualan dan pemajakanbalik kapal dan/atau pelaburan.
Resolusi Khas
Cadangan Resolusi Khas ialah untuk menukar nama Syarikat supaya ia lebih mencerminkan aktiviti Syarikat dan anak-anak syarikatdi dalam industri minyak dan gas.
268 Petra Perdana Berhad
Notis Mesyuarat Agung Tahunan (samb)
PPEETTRRAA PPEERRDDAANNAA BBEERRHHAADD (Company No. 372113-A)(Incorporated in Malaysia)
Proxy Form
*I/*We
of
being a member/members of PETRA PERDANA BERHAD hereby appoint
of
or failing whom
of or *the Chairman of the Meeting as *my/*our proxy to vote for *me/*us and on *my/*our behalf at the Fifteenth Annual General Meetingof the Company to be held on Wednesday, 29 June 2011 at 11.00 a.m. and at any adjournment thereof.
*My/*Our proxy(ies) is/are to vote as indicated below:
Agenda Resolution For AgainstTo approve payment of Directors’ fees. 1
To re-elect Koh Pho Wat 2
To re-elect Ganesan Sundaraj 3
To re-elect Hamdan Rasid 4
To re-appoint Auditors of the Company for the ensuing year. 5
To authorize the issuance of shares pursuant to Section 132D of the 6Companies Act, 1965.
To approve the change of Company’s name. 7
[Please indicate with (X) how you wish your vote to be cast. If no specific direction as to voting is given, the proxy will vote or abstain athis discretion].
Dated this...................... day of .................................. 2011
[Signature/Common Seal of Shareholder(s)][*Delete if not applicable]
Notes:
A member of the Company entitled to attend and vote at the above mentioned meeting is entitled to appoint a proxy to attend and vote his stead. Such proxy may but neednot be a member of the Company and Section 149(1)(a) and (b) of the Companies Act, 1965 shall not apply. Where there are two (2) or more proxies, the member shallspecify the proportion of his shareholdings to be represented by each proxy.
Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991, it may appoint at least one (1) proxyin respect of each securities account it holds with ordinary shares of the Company standing to the credit of the said securities account.
The instrument appointing a proxy shall be in writing (in the common or usual form) under the hand of the appointor or of his attorney duly authorized in writing or, if theappointor is a corporation, either under the seal or under the hand of an officer or attorney duly authorised.
The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority mustbe deposited at Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur not less than forty-eight (48) hours before the time set forholding the meeting or adjourn meeting.
Number of Shares Held
PETRA PERDANA BERHAD c/o Tricor Investors Services Sdn Bhd Level 17 The Gardens North TowerMid Valley CityLingkaran Syed Putra59200 Kuala Lumpur
Fold Here
Fold Here
STAMP
PPEETTRRAA PPEERRDDAANNAA BBEERRHHAADD (No. Syarikat 372113-A)
(Diperbadankan di Malaysia)
Borang Proksi
Saya*/Kami*
beralamat di
sebagai ahli PETRA PERDANA BERHAD dengan ini melantik
beralamat di
atau jika beliau gagal hadir
atau Pengerusi Mesyuarat* sebagai proksi saya*/kami* untuk mengundi bagi pihak saya*/kami* di Mesyuarat Agung Tahunan KelimaBelas Syarikat yang akan diadakan pada hari Rabu, 29 Jun 2011, pukul 11.00 pagi dan pada sebarang penangguhannya.
Proksi saya*/kami* mengundi seperti yang ditunjukkan di bawah:
Agenda Resolusi Sokong TolakUntuk meluluskan pembayaran yuran para Pengarah 1
Untuk memilih semula Koh Pho Wat 2
Untuk memilih semula Ganesan Sundaraj 3
Untuk memilih semula Hamdan Rasid 4
Untuk melantik semula Juruaudit Syarikat bagi tahun akan datang 5
Untuk memberi kuasa menerbitkan saham mengikut 6Seksyen 132D Akta Syarikat, 1965
Untuk meluluskan penukaran nama Syarikat 7
[Sila tandakan “X” dalam ruang yang disediakan di atas bagaimana anda mahu undian anda dibuat. Jika tiada arahan khusus diberi,proksi anda akan mengundi atau menarik diri menurut budi bicara beliau].
Bertarikh pada...................... hari ini .................................. 2011
[Tandatangan/Meterai Am Ahli[*Potong jika tidak berkenaan]
Nota:
Seorang ahli Syarikat yang layak hadir dan mengundi di mesyuarat yang dinyatakan di atas, berhak untuk melantik seorang proksi untuk menghadiri dan mengundi bagipihaknya. Proksi tersebut boleh tetapi tidak semestinya seorang ahli Syarikat dan Seksyen 149(1)(a) dan (b) Akta Syarikat, 1965 tidak digunapakai. Jika dua (2) orang ataulebih proksi dilantik, ahli yang melantik mereka hendaklah menyatakan bahagian pegangan sahamnya yang akan diwakili oleh setiap proksi.
Jika seorang ahli Syarikat merupakan nomini yang diberi kuasa sebagaimana ditakrif di bawah Akta Industri Sekuriti (Depositori Pusat), 1991, beliau boleh melantik sekurang-kurangnya satu (1) orang proksi bagi setiap akaun sekuriti yang dipegangnya dengan saham biasa Syarikat yang berada dalam kedudukan kredit bagi akaun sekuriti tersebut.
Surat cara pelantikan seorang proksi hendaklah dalam bentuk tulisan (dalam bentuk am atau biasa) dengan ditandatangani oleh pelantik atau peguam beliau yang telah diberikuasa sewajarnya dalam tulisan atau, jika pelantik adalah sebuah perbadanan, sama ada di bawah meterai atau di bawah tandatangan pegawai atau peguam yang telahdiberi kuasa sewajarnya.
Surat cara pelantikan seorang proksi dan kuasa peguam atau kuasa lain, jika ada, yang telah ditandatangani atau satu salinan kuasa atau autoriti yang disahkan hendaklahdihantar di Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum masaditetapkan untuk mesyuarat diadakan atau sebarang penangguhannya.
Jumlah Pegangan Saham
Fold Here
PETRA PERDANA BERHAD d/a Tricor Investors Services Sdn Bhd Aras 17 The Gardens North TowerMid Valley CityLingkaran Syed Putra59200 Kuala Lumpur
Lipat Di Sini
Lipat Di Sini
SETEM
Dolphins are intelligent and social mammals.They sleep by resting one half of the brain at a
time such that one eye is always alert.Lumba-lumba adalah mamalia yangcerdas, jinak dan gemar bergaul.Haiwan ini tidur dengan merehatkansebelah otaknya supaya sebelahmatanya sentiasa berjaga.
PETRA PERDANA BERHAD 372113-A
6-8, Jalan 3/3C, Batu 7, Jalan Ipoh68100 Kuala Lumpur.
Tel : + 603 6257 1111Fax : + 603 6257 7708E-mail : [email protected]
www.petra.com.my
Top Related