Dagang NeXchange Berhad Annual Report 2019

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2019 DAGANG NeXCHANGE BERHAD 98 The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for the financial year ended 31 December 2019. PRINCIPAL ACTIVITIES The Company is principally engaged in investment holding whilst the principal activities of the subsidiaries are as stated in Note 7 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. SUBSIDIARIES The details of the Company’s subsidiaries are disclosed in Note 7 to the financial statements. RESULTS Group Company RM’000 RM’000 Profit for the year attributable to: Owners of the Company 30,037 5,878 Non-controlling interests 5,460 - 35,497 5,878 RESERVES AND PROVISIONS All material transfers to or from reserves and provisions during the financial year under review are disclosed in the financial statements. DIVIDENDS Since the end of the previous financial year, the Company paid a final dividend of 0.5 sen per ordinary share totalling RM8,790,177 in respect of the financial year ended 31 December 2018 on 31 July 2019. The Directors do not recommend the payment of any dividend for the financial year ended 31 December 2019.