128 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 DIRECTORS’ REPORT DIRECTORS' REPORT The Directors have pleasure in presenting their report together with the audited financial statements of Kenanga Investment Bank Berhad (“the Bank” or “KIBB”) and its subsidiaries (“the Group” or “Kenanga Group”) for the financial year ended 31 December 2023. PRINCIPAL ACTIVITIES The Bank is principally engaged in the investment banking business, provision of stockbroking and related financial services. The principal activities of the subsidiaries and associates are as described in Note 13 and Note 14 to the financial statements, respectively. There were no significant changes to the nature of the principal activities except for Kenanga Trustees Berhad (formerly known as Kenanga Funds Berhad) during the financial year. RESULTS Group RM'000 Bank RM'000 Profit before taxation and zakat 88,110 58,696 Taxation and zakat (15,359) (3,784) Profit for the financial year 72,751 54,912 Attributable to: Equity holders of the Bank 72,641 54,912 Non-controlling interests 110 - 72,751 54,912 There were no material transfers to or from reserves or provisions during the financial year other than those that have been disclosed in the statements of profit or loss and other comprehensive income and the statements of changes in equity. In the opinion of the Directors, the results of the operations of the Group and of the Bank during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature. DIVIDENDS During the financial year, an interim single tier dividend of 6.0 sen per ordinary shares on 726,454,299 ordinary shares in respect of the financial year ended 31 December 2022, which amounted to RM43,587,258 was paid on 14 April 2023.
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