2019 UEM Edgenta Annual Report

131 UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP STRATEGIC FOCUS OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION UEM Edgenta Berhad Annual Report 2019 Directors’ Report The directors have pleasure in presenting their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2019. PRINCIPAL ACTIVITIES The principal activities of the Company are investment holding and provision of management services to its subsidiaries. The principal activities and other information of the subsidiaries, joint ventures and associates are described in Note 45 to the financial statements. RESULTS Group RM’000 Company RM’000 Profit after tax 188,040 103,360 Attributable to: Owners of the parent 181,782 103,360 Non-controlling interests 6,258 - 188,040 103,360 There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial statements. In the opinion of the directors, the results of the operations of the Group and of the Company during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature other than the impairment loss on investment in subsidiaries amounting to RM81.4 million, as further disclosed in Notes 7 and 17(a) to the financial statements. DIVIDENDS The amounts of dividends paid by the Company since 31 December 2018 were as follows: RM’000 In respect of the financial year ended 31 December 2018 as reported in the directors’ report of that year: Single tier second interim dividend of 8.00 sen on 831,624,030 ordinary shares declared on 25 February 2019 and paid on 9 May 2019 66,530 In respect of the financial year ended 31 December 2019: Single tier interim dividend of 6.00 sen on 831,624,030 ordinary shares declared on 27 August 2019 and paid on 31 October 2019 49,897 116,427 On 26 February 2020, the Board of Directors has declared a single tier second interim dividend of 8.00 sen per ordinary share, on 831,624,030 ordinary shares, amounting to RM66,529,922, to be paid on 14 May 2020. The entitlement date is 23 April 2020. The financial statements for the current financial year do not reflect this dividend. The dividend will be accounted for in equity as an appropriation of retained earnings in the financial year ending 31 December 2020. The directors do not recommend the payment of any final dividend in respect of the current financial year. 131 Directors’ Report 136 Statement by Directors 136 Statutory Declaration 137 Independent Auditors’ Report 142 Income Statements 143 Statements of Comprehensive Income 144 Statements of Financial Position 148 Statements of Changes In Equity 151 Statements of Cash Flows 153 Notes to the Financial Statements FINANCIAL STATEMENTS