Hup Seng Annual Report

Topics: Board of directors, Non-executive director, Corporate governance Pages: 126 (35492 words) Published: November 10, 2012
02 03 04 06 07 13 18 19 20 25 27 29 80 84 87 89

Corporate Information Corporate Structure Chairman’s Statement Financial Highlights Directors’ Profile Statement on Corporate Governance Statement of Directors’ Responsibilities in Relation to Financial Statement Other Compliance Information Audit Committee Board Committee Statement on Internal Control Financial Statements List of Group Properties Statement of Shareholdings Notice of Annual General Meeting Appendix A Form of Proxy

Corporate Information
Dato’ Keh (Kerk) Chu Koh (Chairman) Kerk Chiew Siong (Vice Chairman) Kuo Choo Song (Managing Director) Kerk Chian Tung (Executive Director) Teo Lee Teck (Non-Executive Director) Kerk Kar Han (Non-Executive Director) Woon Chin Chan (Independent Non-Executive Director) Norita Binti Ja’afar (Independent Non-Executive Director) Mazrina Binti Arifin (Independent Non-Executive Director) Raja Khairul Anuar Bin Raja Mokhtar (Independent Non-Executive Director) Dato’ Wee Hoe Soon @ Gooi Hoe Soon (Alternate Director to Woon Chin Chan)

Registered Office
Suite 6.1A, Level 6 Menara Pelangi Jalan Kuning, Taman Pelangi 80400 Johor Bahru Johor Darul Ta’zim Tel: (07) 332 3536 Fax: (07) 332 4536

Principal Place of Business
14 Jalan Kilang Kawasan Perindustrian Tongkang Pecah 83010 Batu Pahat Johor Darul Ta’zim

Share Registrar
Symphony Share Registrars Sdn. Bhd. (378993-D) Level 6, Symphony House Pusat Dagangan Dana 1 Jalan PJU 1A/46 47301 Petaling Jaya Selangor Darul Ehsan Tel: (03) 7841 8000 Fax: (03) 7841 8151

Principal Bankers
RHB Bank Berhad Malayan Banking Berhad Public Bank Berhad United Overseas Bank (Malaysia) Berhad HSBC Bank Malaysia Berhad

Ernst & Young Chartered Accountants

Leong Siew Foong

Stock Exchange Listing
Main Market of Bursa Malaysia Securities Berhad Stock Code: 5024


Annual Report 2011 I Hup Seng Industries Berhad (226098-P)

Corporate Structure




Chairman’s Statement

On behalf of the Board of Directors of Hup Seng Industries Berhad (“HSIB” or “the Company”), I have pleasure in presenting the Annual Report and Audited Financial Statements of the Company and its subsidiaries (the “Group”) for the financial year ended 31 December, 2011.


Annual Report 2011 I Hup Seng Industries Berhad (226098-P)

Chairman’s Statement
REVIEW OF THE FINANCIAL PERFORMANCE I am pleased to report that the Group achieved an encouraging growth in our group revenues which increased 9.6% to RM240 million in the financial year ended 31 December, 2011 from RM219 million in the preceding year. The higher revenues were attributable to buoyant demand in both export and domestic markets. Profit before tax, however, decreased to RM27.6 million from RM32.7 million a year ago. The decrease in current year’s profit was mainly due to the impairment of goodwill which amounted to RM8,909,000 after an impairment testing on the recoverable amount of goodwill in accordance with the relevant Financial Reporting Standards. In addition to that, escalating input costs also slowed down margin growth of the Group despite an improvement in turnover. Net asset per share stood at RM1.23. Earnings per share (EPS) decreased from 19.45 sen in 2010 to 15.52 sen based on 120,000,000 shares.


OUTLOOK AND PROSPECTS Despite the reassuring economic data from U.S., the economic headwinds remain with less optimistic numbers from China and Europe threatening to derail the still fragile recovery in the U.S. As such, the operating environment is expected to remain highly competitive for 2012 and much will depend on how global events pan out over the coming months. After registering a slower 5.1% gross domestic product growth in 2011, the Malaysian economy faces a real test on whether it can continue to sustain economic growth at above 5% as dark clouds hover over the global economy. With the uncertainties emanating from the US and Europe and while Japan...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Hup Seng Annual Report 2008 Essay
  • Essay about Annual Report
  • Annual Report Essay
  • Essay about Annual Report
  • Hup Seng Essay
  • Google Annual Report Analysis Essay
  • The Annual Report Research Paper
  • Annual Report Essay

Become a StudyMode Member

Sign Up - It's Free
Dragon Ball – Bảy Viên Ngọc Rồng chap 135 | Chaussures bateau | Jacques Kerchache, Jean-Louis Paudrat et Lucien Stephan : L'art africain