42 EXCEL FORCE MSC BERHAD 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 2021. PRINCIPAL ACTIVITIES The principal activities of the Company are development, provision and maintenance of software application solutions for the financial services industry. The principal activities of its subsidiary companies are disclosed in Note 8 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, attributable to owners of the parent 12,179,755 12,467,055 RESERVES AND PROVISIONS Therewere nomaterial transfers to or fromreserves 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 Final single-tier dividend of 0.50 sen per ordinary share in respect of the financial year ended 31 December 2020 on 8 July 2021 2,796,892 First interim single-tier dividend of 0.50 sen per ordinary share in respect of the financial year ended 31 December 2021 on 30 September 2021 2,796,892 Second interim single-tier dividend of 0.50 sen per ordinary share in respect of the financial year ended 31 December 2021 on 23 December 2021 2,796,892 8,390,676 At the forthcoming Annual General Meeting, a final single-tier dividend of 0.50 sen per ordinary share in respect of the current financial year will be proposed for the approval of the shareholders. The financial statements for the current financial year do not reflect this proposed dividend. This dividend will be accounted for in equity as an appropriation of retained earnings in the period when it is approved by the shareholders. ISSUE OF SHARES AND DEBENTURES There was no issuance of shares or debentures during the financial year. OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up unissued shares of the Company during the financial year. Directors’ Report
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