Chairman’s Statement Corporate Information Corporate Structure Notice of Annual General Meeting Profile of Directors Corporate Governance Statement on Internal Control Audit Committee Financial Statements Properties Held by The Group Shareholders’ Information
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On behalf of the Board of Directors of Bina Goodyear Berhad, I am delighted to present to you the Annual Report and Financial Statements of your Company and the Group for the financial year ended 30th June 2010. En. Md Azar bin Ismail / Chairman
Operating Background The financial year ended 2010 saw much improvement in the property and construction industries. In particular, construction material prices stabilized although still higher than pre-crisis prices. With the improvements in the property market, many new projects including residential and commercial projects were launched. In this regard, the Group benefited by securing two new construction contracts valued at over RM160 million during the past six months. Review of Results For the financial year ended 30 June 2010, revenue increased marginally by 1.5% to RM338.684 million from RM333.764 million in the previous year. The Group recorded pre-tax losses of RM8.95 million for the year against a pre-tax loss of RM24.03 million in 2009. These pre-tax losses are due to the disposal of a piece of land by a wholly owned subsidiary company amounting to RM7.1 million and provision for doubtful debts and costs of construction written off on completed projects where recoverability is deemed uncertain. As of 30 June 2010, the Group’s outstanding construction contracts stood at over RM257 million, not including the two new construction contracts secured recently valued at over RM160 million.
BINA GOODYEAR BERHAD
Ministry of Art/Culture & Tourism & Proposed Ministry of Higher Education (5G2), Putrajaya (perspective).
Palace of Justice, Putrajaya
Subang Perdana Township, Subang Jaya
Prospects The Group has maintained its good track record, reputation, confidence of its clients and financiers to ensure continued business growth. It will continue to actively tender for local construction projects and seek property development investment opportunities, focusing on medium cost buildings and landed properties. The Group is confident it will be able to secure new construction contracts and resume its property development activities in the coming year. Dividends The Directors have not recommended any payment of dividend for the financial year ended 30 June 2010. Acknowledgement I take this opportunity to extend my sincere gratitude to my fellow Directors and management team for their dedication and commitment in their work. Similarly, to our valued customers and shareholders, thank you for your support and confidence in the Group.
MD AZAR BIN ISMAIL Chairman
Annual Report 2010
BOARD OF DIRECTORS
Encik Md Azar Bin Ismail Mr. Wong Chick Wai Mr. Eric Lai Dato’ Edmond Hoyt Yung Dato’ Abdul Hamid Bin Hj Md. Zainuddin Mr. Tan Su Tiam @ Tan Hooi Thean (Non-Executive Chairman) (Managing Director) (Executive Director) (Non-Executive Director) (Independent Non-Executive Director) (Independent Non-Executive Director)
AUDIT COMMITTEE Dato’ Abdul Hamid Bin Hj Md. Zainuddin (Chairman, Independent Non-Executive Director) Mr. Tan Su Tiam @ Tan Hooi Thean (Independent Non-Executive Director) Encik Md Azar Bin Ismail (Non-Executive Director) COMPANY SECRETARY Annie Yap Yin Hoon (LS 6644) REGISTERED OFFICE Wisma Goodyear, Tingkat 11, Blok B Kelana Centre Point 3 Jalan SS 7/19, Kelana Jaya 47301 Petaling Jaya Selangor Darul Ehsan, Malaysia Telephone : 03-78800388 Facsimile : 03-78800302 AUDITORS S. F. Yap & Co. 17 & 19 Jalan Brunei Barat, Pudu 55100 Kuala Lumpur
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