Excel Force MSC Berhad Annual Report 2015

E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 32 DIRECTORS’ REPORT 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 2015. PRINCIPAL ACTIVITIES The principal activities of the Company are the development, provision and maintenance of computer software application solutions for the financial services industry. The principal activities of the subsidiaries are set out in Note 11 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. RESULTS Group Company RM RM Profit for the financial year 7,567,805 7,527,088 Attributable to: Owners of the parent 7,552,104 7,527,088 Non-controlling interests 15,701 - 7,567,805 7,527,088 DIVIDENDS Dividends paid, declared or proposed since the end of the previous financial year were as follows: Company RM In respect of the financial year ended 31 December 2015: First interim tax exempt dividend of 1.0 sen per ordinary share, paid on 31 March 2015 2,067,681 Second interim single-tier dividend of 1.0 sen per ordinary share, paid on 30 June 2015 2,067,681 Third interim single-tier dividend of 1.0 sen per ordinary share, paid on 23 December 2015 2,067,681 6,203,043 The Directors do not recommend the payment of any final dividend in respect of the current financial year. On 25 February 2016, the Directors declared a first interim single-tier dividend of 1.0 sen per ordinary share of RM0.10 each in respect of the financial year ending 31 December 2016. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year.