SCC Holdings Berhad Annual Report 2017

SCC Holdings Berhad (511477-A) | Annual Report 2017 23 DIRECTORS’ REPORT The Directors have pleasure in submitting their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2017. Principal Activities The principal activity of the Company is investment holding. The principal activities of its subsidiary companies are disclosed in Note 5 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. Financial Results Group Company RM’000 RM’000 Net profit for the financial year attributable to owners of the Company 6,050 4,942 Reserves and Provisions There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial statements. Dividends Since the end of the last financial year, the Company paid: RM’000 An interim single-tier dividend of RM0.05 per ordinary share in respect of the financial year ended 31 December 2016 on 20 January 2017 2,139 An interim single-tier dividend of RM0.05 per ordinary share in respect of the financial year ended 31 December 2017 on 21 June 2017 2,139 4,278 The Directors do not recommend a final dividend to be paid in respect of the financial year ended 31 December 2017. Issue of Shares and Debentures During the financial year, the number of issued and paid-up ordinary share capital of the Company was increased as follows: (i) Bonus issue of 4,277,580 new ordinary shares on the basis of one (1) bonus share for every ten (10) existing ordinary shares held; and (ii) Share split involving subdivision of every one (1) ordinary share held after the bonus issue into three (3) ordinary shares. The new ordinary shares issued during the financial year rank pari passu in all aspects with the existing ordinary shares of the Company. The Company did not issue any debentures during the financial year.