Frontken Berhad Annual Report 2019

42 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 The directors of FRONTKEN CORPORATION BERHAD 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 principal activities of the Company are that of investment holding and provision of management services to its subsidiaries. The principal activities of the subsidiaries are disclosed in Note 13 to the financial statements. FINANCIAL RESULTS The Group The Company RM RM Profit after taxation for the financial year 74,228,348 23,272,268 Attributable to:- Owners of the Company 69,170,350 23,272,268 Non-controlling interests 5,057,998 - 74,228,348 23,272,268 DIVIDENDS The dividends on ordinary shares paid or declared by the Company since the end of the previous financial year in respect of the financial year ended 31 December 2019 were as follows:- RM - First interim single-tier dividend of 1.0 sen per ordinary share on 1,047,968,530 ordinary shares, paid on 27 September 2019 10,479,685 On 21 February 2020, the Company declared and approved a second interim single-tier dividend of 1.5 sen per ordinary share on 1,047,968,530 ordinary shares, payable on 13 April 2020, in respect of the financial year ended 31 December 2019 amounting to RM15,719,528. The financial statements for the current financial year do not reflect this interim dividend. Such dividend will be accounted for in the shareholders’ equity as an appropriation of retained earnings in the financial year ending 31 December 2020. 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. ISSUES OF SHARES AND DEBENTURES During the financial year:- (a) there were no changes in the issued and paid-up share capital of the Company; and (b) there were no issues of debentures by the Company. Directors’ Report