EXCEL FORCE MSC BERHAD Annual Report 2017

38 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 activities of the Company are the development, provision and maintenance of software application solutions for the financial services industry. The principal activities of its subsidiary companies are disclosed in Note 7 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 RM Profit for the financial year 6,323,258 6,223,872 Attributable to: Owners of the parent 6,323,258 6,223,872 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 First interim single tier dividend of 1.0 sen per ordinary share in respect of the financial year ended 31 December 2017 on 28 March 2017 2,068,660 Second interim single tier dividend of 1.5 sen per ordinary share in respect of the financial year ended 31 December 2017 on 16 June 2017 3,102,990 5,171,650 The Directors do not recommend the payment of any final dividend in respect of the current financial year.