Asia Media Annual Report 2018

40 | P a g e 13. FINANCIAL STATEMENTS DIRECTORS' REPORT The Directors hereby submit their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2018. PRINCIPAL ACTIVITIES The principal activity of the Company is investment holding. The principal activities of the subsidiary companies are as stated in Note 6 to the financial statements. RESULTS DIVIDENDS There were no dividends paid or declared by the Company since the end of the previous financial year. The Directors do not recommend the payment of any dividends in respect of the financial year ended 31 December 2018. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements. 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 that action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful debts, and had satisfied themselves that all known bad debts had been written off and that no allowance for doubtful debts is required. At the date of this report, the Directors are not aware of any circumstances that would require the further writing off of bad debts, or allowance for doubtful debts in the financial statements of the Group and of the Company inadequate to any substantial extent. Group Company RM RM Net loss for the financial year (26,554,566) (17,565,828) Other comprehensive income, net of tax - - Total comprehensive deficit for the financial year (26,554,566) (17,565,828) Attributable to:- Owners of the parent (26,509,633) (17,565,828) Non-controlling interests (44,933) - Total comprehensive deficit for the financial year (26,554,566) (17,565,828)