Cover Poh Kong 2012 OP

Transcription

Headquarters : No. 16-20 Jalan 52/4, 46200 Petaling Jaya, Selangor Darul Ehsan
Tel : 603-7958 8999, 7956 3450
Fax : 603-7957 2404, 7958 8398
www.pohkong.com.my
ANNUAL REPORT 2012
PENINSULAR MALAYSIA
RETAIL CONCEPT STORES
ALOR SETAR
DIAMOND BOUTIQUE
SUNGAI PETANI
PRAI
HEADQUARTERS:
16-20, Jalan 52/4,
46200 Petaling Jaya,
Selangor Darul Ehsan,
Malaysia.
PENANG
Kedai
edai Rakyat
Raky
TAIPING
IPOH
SRI MANJUNG
Tel: 603-7958 8999, 7956 3450
Fax: 603- 7957 2404, 7958 8398
www.pohkong.com.my
r 19-23, Jalan SS2/55
Tel: 603-7874 7863
r Subang Parade
Tel: 603-5635 1087
r 1 Utama Shopping Centre
Tel: 603-7726 3868
r Sunway Pyramid Shopping Mall Tel: 603-7492 0972
Core Business Philosophy
&5$)760(16+,3
:257+
5(785121
,19(670(17
&200,70(17
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352),7
5(387$7,21
T rust
6(59,&(
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V alue
Q uality
352'8&7
&219(1,(1&(
Tel: 603-8024 7350
r Giant Hypermarket,
Bandar Kinrara
r Alam Sentral Plaza
Tel: 603-8075 5349
Kota Damansara
Tel: 603-6142 2898
r Tropicana City Mall
r Paradigm Mall
Tel: 603-7728 2191
Tel: 603-7886 7475
r AEON, Bukit Raja
r AEON Alpha Angle,
Wangsa Maju
Tel: 603-4142 1688
r AEON, Metro Prima
Shopping Centre
Tel: 603-6258 6088
r AEON, Tmn Equine
Shopping Centre
Tel: 603-8941 6204
r AEON, Cheras Selatan
Tel: 603-9076 9781
r AEON, AU2 Shopping Centre
r Kompleks Pernas Sogo
r The Mall
r Ampang Point Shopping Centre
Tel: 603-4257 4282
Tel: 603-2698 5275
Tel: 603-4041 0542
Tel: 603-4252 7375
r Pearl Point Shopping Mall
Tel: 603-7981 3798
r Leisure Mall
Tel: 603-9132 2417
r Spectrum Shopping Mall
Tel: 603-4270 1039
r Parkson Grand, Selayang Mall
Tel: 603-6136 7813
r Bangsar Shopping Centre
Tel: 603-2093 3161
r The Mines Shopping Fair
Tel: 603-8943 0759
r Mid Valley Megamall
Tel: 603-2284 9636
Tel: 603-7981 7819
r5IF4UPSF4SJ1FUBMJOH
Tel: 603-9058 7693
r Pavilion, Lot 1.40.00
r Axis Atrium
Tel: 603-3343 8863
SEREMBAN
MALACCA
MUAR
BATU PAHAT
Tel: 603-3344 2488
r G05, Klang Parade
Tel: 603-3344 1488
NILAI
SUNGAI BULOH
r Giant Superstore
Tel: 606-799 1650
Tel: 603-6157 6598
Tel: 603-8210 0500
KAJANG
r Plaza Metro Kajang
Tel: 603-8734 5233
r The Store, Semenyih Sentral
Tel: 603-8723 6571
r AEON Mahkota Cheras
Shopping Centre
Tel: 603-9074 9377
r The Store Seremban
Tel: 606-762 4315
r East Coast Mall
Tel: 609-560 9988
r Terminal One
Tel: 606-762 7933
r Kuantan Parade Shopping Mall
Tel: 609-513 6299
r The Store Centre Point
Tel: 606-761 9366
r AEON, Seremban 2
Tel: 606-601 5505
PRAI
r AEON, Seberang Prai City
Shopping Centre
r AEON, Bukit Indah Shopping
Centre, Lot G36, JB
r AEON, Tebrau City
Shopping Centre,
Ground Floor, JB
Tel: 607-236 9499
Tel: 607-353 6497
RAWANG
Tel: 603-6093 3098
IPOH
Tel: 605-253 6717
r AEON Kinta City
Shopping Centre
Tel: 605-547 0013
SRI MANJUNG
r AEON Sri Manjung
r Queensbay Mall
Lot GF119 & GF120
Tel: 604-641 1560
r Queensbay Mall
Lot GF43-A, GF45 & GF 46
Tel: 604-641 1572
r Mydin, Kompleks Bukit Jambul
Tel: 606-641 3976
r Kompleks Bukit Jambul
r The Store
Tel: 605-687 0866
Tel: 606-642 4973
ALOR SETAR
r Star Parade
Tel: 604-734 8021
r Alor Star Mall
Tel: 604-772 5351
r Souq Al-Bukhary
Commercial Centre
Tel: 604-733 1363
Tel: 605-621 6024
r Aman Jaya Mall
Tel: 609-741 2166
Tel: 603-7710 7260
r Mahkota Parade,
G14, Malacca
Tel: 606-283 2470
Tel: 603-2282 8850
r AEON, Bukit Tinggi, Klang
r AEON Station 18, Ipoh
Tel: 603-3326 2821
Tel: 605-322 3618
r AEON, Bandaraya Melaka
Shopping Centre, Malacca
Tel: 606-286 3120
r Tesco Station 18, Ipoh
Tel: 605-322 8655
r Tesco Taiping
Tel: 605-808 1333
r Tesco Seri Alam, JB
Tel: 607-388 8796
r Tesco Melaka Cheng
Tel: 606-334 3857
r Tesco Seremban Jaya
Tel: 606-678 0298
r Tesco Putra Nilai
Tel: 606-799 9626
r Tesco Ampang, KL
Tel: 603-9282 5857
r Tesco Shah Alam
Tel: 603-5519 3588
r Tesco Klang
r Tesco Melaka
Tel: 603-3323 9021
Tel: 606-288 2848
r Tesco Puchong
Tel: 603-8076 5952
r Tesco Extra Cheras, KL
Tel: 603-9132 4684
r Tesco Extra, Shah Alam
Tel: 603-5510 4203
r Tesco Extra Seremban 2
Tel: 606-613 6068
TRANZ
r AEON Shopping Centre
Tel: 606-232 5188
r Mahkota Parade
Tel: 606-282 1922
r Sunway Pyramid Shopping
Mall, PJ
MUAR
Tel: 606-951 7718
r Giant Hypermarket
Tel: 606-952 9916
r AEON Bukit Raja
Tel: 603-3342 4120
Shopping Centre
JOHOR BAHRU
ORO BIANCO
r AEON, Taman Universiti
Tel: 607-521 3482
r AEON, Permas Jaya
Tel: 607-388 9958
r AEON, Tebrau City
Tel: 607-354 7691
Shopping Centre
r AEON, Bukit Indah
Shopping Centre, Lot G37
r AEON, Bukit Indah
Lot G35, JB
Tel: 607-236 9033
BATU PAHAT
r Summit Parade
Tel: 607-236 9484
Shopping Centre,
POH KONG GALLERY
r 16-20, Jalan 52/4
Tel: 604-440 0073
Tel: 603-7492 0973
JADE GALLERY
r Wetex Parade
SUNGAI PETANI
TELUK INTAN
r The Store
(Oval), PJ
r Mid Valley Mega Mall, KL
MALACCA
Tel: 604-538 9726
PENANG
Tel: 603-3187 0543
r AEON Anggun Rawang
Shopping Centre
KELANTAN
r KB Mall, Kota Bharu
r,JQNBSU4FOBXBOH
BANTING
r The Store
KUANTAN
SEREMBAN
BANGI
r Bangi Utama
Shopping Complex
Tel: 603-2141 9090
Tel: 603-9200 7311
JOHOR BAHRU
r$BSSFGPVS)ZQFSNBSLFU5FM
r Carrefour Hypermarket, Kepong Tel: 603-6259 3809
r Plaza OUG, Old Klang Road
Tel: 603-7734 1286
Tel: 603-7492 0973
r Tang's Genting First World, Pahang Tel: 603-6101 2485
NILAI
r Shaw Centre Point
KUALA LUMPUR
Tel: 603-9285 8566
KUANTAN
Tel: 603-5518 6116
KLANG
r The Store
r AEON, Taman Maluri
RAWANG
SUNGAI BULOH
KUALA LUMPUR
PETALING JAYA
KLANG
SHAH ALAM
KAJANG
BANGI
BANTING
Shopping Centre
r Giant Hypermarket,
35,&(
/2&$7,21
SHAH ALAM
Tel: 603-7958 6030
r Summit City, Subang Jaya
r Sunway Pyramid
Shopping Mall, PJ
DIAMOND & GOLD
TELUK INTAN
PETALING JAYA
r Amcorp Mall
KOTA BHARU
Tel: 603-7958 8999
46200 Petaling Jaya
Tel: 607-433 1918
r Pavilion, Kuala Lumpur
Tel: 603-2141 7919
PRODUCT
SERVICE
EXCELLENCE
CRAFTSMENSHIP
Quality
Annual Report
Contents
3
corporate information
5
corporate structure
6
5-year group financial highlights
7
corporate milestones
9
significant highlights 2012
16
board of directors
17
profile of board of directors
22
chairman’s statement
26
chairman’s statement (malay)
30
chairman’s statement (chinese)
33
statement on corporate governance statement
38
corporate social responsibility
43
report of the audit committee
47
statement on internal control
49
other compliance information
50
statement on directors’ responsibilities
ties
52
financial statements
127
analysis of shareholdings
131
list of properties
137
notice of annual general meeting
140
statement accompanying notice
of agm
141
appendix I notice of nomination of auditors
142
appendix II proposed amendments to the
company’s articles of association
proxy form
2
2012
Corporate Information
BOARD OF DIRECTORS
REGISTERED OFFICE
PRINCIPAL BANKERS
Yg Bhg Dato’ Choon Yee Seiong
Mr Cheong Teck Chong
Madam Choon Nee Siew
Mr Siow Der Ming
Mr Chang Kwong Him
Mr Choon Yee Bin
Dr Choong Tuck Yew
Encik Fazrin Azwar Bin Md Nor
Datin Shirley Yue Shou How
Unit 07-02, Level 7, Persoft Tower
6B Persiaran Tropicana
47410 Petaling Jaya
Selangor Darul Ehsan
Tel: 03-7804 5929 Fax: 03-7805 2559
Malayan Banking Berhad (3813-K)
Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur
Tel: 03-2776 5716 Fax: 03-2026 5267
CORPORATE OFFICE
RHB Bank Berhad (6171-M)
Level 7, Tower Three, RHB Centre,
Jalan Tun Razak,
50400 Kuala Lumpur
Tel: 03-9280 6322 Fax: 03-9280 6167
No. 16-20, Jalan 52/4
46200 Petaling Jaya
Tel: 03-7958 8999 Fax: 03-7957 2404
AUDIT COMMITTEE
Dr Choong Tuck Yew, Chairman
Encik Fazrin Azwar Bin Md Nor, Member
Datin Shirley Yue Shou How, Member
NOMINATION COMMITTEE
Encik Fazrin Azwar Bin Md Nor, Chairman
Dr Choong Tuck Yew, Member
Datin Shirley Yue Shou How, Member
AUDITORS
GEP Associates/ Chartered Accountants
(Firm No. AF-1030)
Block F2 Dataran Prima
25-3 Jalan PJU 1/42A
47301 Petaling Jaya
Tel: 03-7803 3390 Fax: 03-7803 3603
REMUNERATION COMMITTEE
Datin Shirley Yue Shou How, Chairperson
Dr Choong Tuck Yew, Member
Encik Fazrin Azwar Bin Md Nor, Member
Dato’ Choon Yee Seiong, Member
COMPANY SECRETARY
SOLICITORS
Soo Thien Ming & Nashrah
1st Floor, No. 1 Jalan SS2/55
47300 Petaling Jaya
Tel: 03-7874 8763 Fax: 03-7874 4314
Ng Yim Kong (LS 0009297)
United Overseas Bank (Malaysia) Bhd
(271809-K)
Level 11, Menara UOB
Jalan Raja Laut
50738 Kuala Lumpur
Tel: 03-2692 7722 Fax: 03-2691 8418
SHARE REGISTRAR
Symphony Share Registrars Sdn Bhd
(378993-D)
Level 6, Symphony House
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Tel: 03-7841 8000 Fax: 03-7841 8151
STOCK EXCHANGE LISTING
Main Market of Bursa Malaysia
Securities Berhad (Bursa Securities)
POH KONG
Website: www.pohkong.com.my
Web Portal: www.pohkong.listedcompany.com
Facebook: www.facebook.com/pohkongjewellers
3
REPUTATION
COMMITMENT
HONESTY
TRANSPARENCY
Trust
4
Poh Kong Holdings Berhad
100%
Poh Kong Jewellers (Ampang Point) S/B
Poh Kong Jewellers (Puchong) S/B
Poh Kong Jewellers (Bandar Utama) S/B
Poh Kong Jewellers (Selayang) S/B
Poh Kong Jewellers (Bangsar) S/B
Poh Kong Jewellers (Seremban) S/B
Poh Kong Jewellers (Banting) S/B
Poh Kong Jewellers (Shah Alam) S/B
Poh Kong Jewellers (Batu Pahat) S/B
Poh Kong Jewellers (SS 2) S/B
Poh Kong Jewellers (Gold Seremban) S/B
Poh Kong Jewellers (Subang Parade) S/B
Poh Kong Jewellers (Ipoh) S/B
Poh Kong Jewellers (Summit) S/B
Poh Kong Jewellers (Jaya) S/B
Poh Kong Jewellers (The Mall) S/B
Poh Kong Jewellers (Jln Taman Malacca) S/B
Poh Kong Jewellers (The Mines) S/B
Poh Kong Jewellers (Kajang) S/B
Poh Kong Jewellers (Tmn Universiti, JB) S/B
Poh Kong Jewellers (Kinta City) S/B
Poh Kong Jewellers (Wangsamaju) S/B
Poh Kong Jewellers (Klang) S/B
Poh Kong Jewellers S/B
Poh Kong Jewellers (Kuantan) S/B
Poh Kong Jewellery Manufacturer S/B
Poh Kong Jewellers (M) S/B
Poh Kong Properties S/B
Poh Kong Jewellers (Malacca) S/B
Poh Kong Wholesale S/B
(formerly known as Precious Jewellery S/B)
Poh Kong Jewellers (Maluri) S/B
Poh Kong International S/B
Poh Kong Jewellers (Meru) S/B
Poh Kong Jewellers (Franchise) S/B
Poh Kong Jewellers (Muar) S/B
In Vogue S/B*
Poh Kong Jewellers (MV) S/B
Jungmax Property S/B
Poh Kong Jewellers (Old Klang Road) S/B
Kedai Emas Likwong S/B
Poh Kong Jewellers (Peringgit) S/B
Pajak Gadai Anda S/B*
Poh Kong Jewellers (Permas Jaya) S/B
PK Design S/B*
Poh Kong Jewellers (PHT) S/B
PK Jewellery Export S/B
* under member voluntary winding up
2012
ANNUAL REPORT
Corporate Structure
5
5 Year Group Financial Highlights
FYE 31 July - RM’000
2008
2009
2010
2011
2012
Revenue
3URéWEHIRUHWD[DWLRQ
Taxation
509,354
(11,190)
541,636
(10,138)
561,244
(12,282)
692,419
(16,467)
830,118
70,949
(19,383)
3URéWDIWHUWD[DWLRQ
51,566
3URéWDWWULEXWDEOHWR
Equity holders of the Company
Non-Controlling Interests
28,686
80
28,444
(24)
32,517
-
41,205
-
51,566
-
28,766
28,420
32,517
41,205
51,566
6
PROFIT BEFORE TAXATION (RM Million)
75
70.949
70
REVENUE (RM Million)
900
830.118
65
800
60
700
55
50
600
45
500
40
35
400
30
25
300
20
200
15
10
100
5
0
2008
2009
2010
2011
2012
0
2008
2009
2010
2011
2012
2012
1976
à Poh Kong Jewellers (PJK) was established on 26 March 1976 by one of the founders Dato’ Eddie Choon, now Poh Kong
+ROGLQJV%HUKDGÙV([HFXWLYH&KDLUPDQ*URXS0DQDJLQJ'LUHFWRUZLWKLWVéUVWRXWOHWDW-DODQ3HWDOLQJ-D\D7KLV
business address has been the Poh Kong Headquarters until today.
ANNUAL REPORT
Corporate Milestones
1982-1992
à 3.- RSHQHG LWV éUVW EUDQFK LQ 66 3HWDOLQJ -D\D WDNLQJ XS UHWDLO VSDFH RI VT IW DQG KDYLQJ D ZRUNIRUFH RI employees.
7
à
PKJ opened another 13 branches.
1993-2003
à PKJ upgraded all outlets with fully computerised point-of-sales and inventory systems.
à
PKJ was made the exclusive distributor of Disney characters in gold in Malaysia.
à
PKJ designer team won a gold medal for the “Golden Design Awards 1996” organized by the World Gold Council Europe
in Italy.
à
PKJ listed in The Malaysia Book of Records as the Largest Jewellery Retail Chain Store.
à
PKJ raised RM100,000 for the Nanyang Press Foundation for education and training of underprivileged youths, through a
charity campaign launched in its 50 retail outlets nation-wide.
à
PKJ invested RM12 million to establish a 60,000 sq ft manufacturing facility in Shah Alam.
à
3RK.RQJODXQFKHGLWVéUVWLQKRXVHEUDQG7UDQ]LQFROODERUDWLRQZLWK:RUOG*ROG&RXQFLO
à
PKJ celebrated its 25th Anniversary with the “Drive Home a Lotus Elise” Contest and a grand anniversary company dinner.
à
Poh Kong was one of the sponsors in the Miss Tourism International Pageant under the auspicies of the Ministry of Culture
and Tourism.
2004
à 3RK.RQJZDVOLVWHGRQWKHPDLQERDUGRI%XUVD0DOD\VLD6HFXULWLHV%HUKDGRQ0DUFK
à
3RK .RQJ RSHQHG LWV éUVW 3RK .RQJ *DOOHU\ D VW\OLVK ,WDOLDQ &ODVVLF 9,3 ORXQJH ZLWK VT IW RQ WKH st êRRU RI LWV
headquarters in Petaling Jaya.
à
3RK.RQJUHDFKHGLWVth outlet in Peninsular Malaysia.
2005
à Poh Kong established a franchise division.
à
Poh Kong launched its 30th Anniversary “Million Ringgit Reward” with diamonds and gems for consumers.
Corporate Milestones
2006
à Poh Kong ventured into the diamond cutting and polishing, sales, import and export of precious stones in collaboration
with Hong Kong companies.
à
8
3RK .RQJ RSHQHG LWV éUVW IUDQFKLVH RXWOHW LQ &RPSOH[ .DUDPXQVLQJ .RWD .LQDEDOX LQ 6HSWHPEHU DV SDUW RI LWV UHWDLO
expansion into East Malaysia.
2007
à Poh Kong was appointed as sole distributor for Schoeffel in Southeast Asia.
à
Poh Kong Group participated in the International Trade Malaysia (INTRADE MALAYSIA 2007) exhibition organized by
Matrade and supported by the Ministry of International Trade and Industry.
2009
à Poh Kong and Luca Carati, one of Italy’s oldest and most prestigious jewellers launched the brand in Malaysia. Poh Kong
is commemorated as the sole distributor in Malaysia.
2010
à Poh Kong showcased in-house brands, Tranz and Anggun in the Malaysian Pavilion at the Shanghai World Expo 2010.
à
Poh Kong launched its 35th Anniversary “Shining Years” Customers Rewards Campaign.
2011
à Poh Kong reached its 100th outlet in Peninsula Malaysia.
2012
à 3RK.RQJDQQRXQFHGLWVSDUWQHUVKLSZLWK0RUDJOLRQHRI,WDO\RQHRI(XURSHÙVéQHVWDQGQRWDEOHMHZHOOHUV
EVENTS / NEW PRODUCTS / CAMPAIGNS …
9th ANNUAL GENERAL MEETING
Poh Kong Holdings Berhad held at its 9th Annual General
Meeting for shareholders at the Dewan Berjaya, Bukit Kiara
Equestrian & Country Resort, Kuala Lumpur.
2012
ANNUAL REPORT
Significant Highlights 2012
9
TRANZ BACK TO NATURE LAUNCH
Poh Kong unveiled a brand new image and tagline “Inspired. By
Design” for Tranz at the Tranz – Unveiling the Marque of the
Future launch event in the Actor’s Studio, KL signifying a new
phase for the established gold jewellery brand.
Appealing to the new kind of beauty based on intelligence, real
accomplishment and a strong sense of individuality, Tranz
inspires the wearer with a renewed determination of optimism,
FRQéGHQFH DQG YLWDOLW\ 7UDQ] FRPHV LQ IRXU FROOHFWLRQV
featuring design themes of Classic, Nature, Love, and Duet and
is available exclusively at Poh Kong, Diamond & Gold outlets
nationwide, Poh Kong Gallery and Tranz Boutique at Sunway
Pyramid.
ART OF BEAUTY INSPIRES ‘MELUR COLLECTION’ IN POH KONG’S ANGGUN SERIES
Poh Kong continues the seasonal tradition of gold jewellery
ZLWKêRUDOPRWLIVZLWKWKHODXQFKRIWKH0HOXU&ROOHFWLRQ
GHVLJQHG LQ WKH VKDSH DQG IRUP RI WKH -DVPLQH êRZHU
ZKLFK SHUVRQLéHV WKH DWWUDFWLYH SRLVH DQG UDGLDQFH RI D
woman, at the Mines Wellness Hotel, Kuala Lumpur.
7KH0HOXU&ROOHFWLRQWKHODWHVWOLQHLQWKHêRUDOPRWLI
(22K) gold Anggun series, is targeted at fashionable and
trendy Malaysian women who also appreciate traditional
values. The new collections are the Melur Collection and
the Karya Anggun Collection, which combines several
$QJJXQ êRUDO PRWLIV 1HZ GHVLJQV KDYH DOVR EHHQ DGGHG
to the Manja Collection, a petite set designed for children,
and the Bunga Raya Collection. Anggun is available
exclusively at Poh Kong, Poh Kong Gallery, and Diamond
& Gold nationwide.
MORAGLIONE 1922 IS POH KONG’S
SHINING PARTNER
10
Poh Kong latest partnership with worldrenowed international jeweller Moraglione
1922 from Italy was highlighted in a six-day,
European-themed roadshow to showcase
some of its most stunning collections of
royalty-inspired jewellery at the Pavilion
Kuala Lumpur.
The show also featured Schoeffel luxury
pearls from Germany, Luca Carati from Italy,
Angel Diamond from Belgium and Poh Kong
Gallery’s luxury collection. Adding glitz and
glamour to the event were local celebrities
5HVKPRQX6\DéQD]6HODPDW'DQLHO/HHDQG
designers, such as Keith Kee, Carven Ong,
and DL Fashion Design.
Dato’ Eddie Choon, Poh Kong’s Executive
Chairman & Group Managing Director,
and Ms Emiliana Caprioglio (third from
left), Moraglione 1922 International Sales
Director, with a bevy of models.
THE ART OF AUSPICIOUS JEWELLERY
COLLECTION LAUNCH
The precious pearl which adorn the dragon depicted
in pictures of legends have become the inspiration for
Poh Kong’s anchor collection of its 2012 Auspicious
Collections in welcoming the Year of the Dragon.
The Art of Auspicious
Jewellery by Poh Kong
comprises a variety of
collections, which include
the Dragon’s Pearl, Jade and
Gourd, Abacus, the Special
collection, Fortunes from
Heaven, the Rising Dragon
Gold Coin and Smooth
Endeavours Silver Coin set
and Soaring Pixiu.
Models (from left to right) showcasing
(XURSHÙV éQHVW MHZHOOHU\ WKH ,VDEHOOD
&ROOHFWLRQWKH6RéD&ROOHFWLRQWKH*UDFH
Collection and the Anastasia Collection
respectively.
THE SCHOEFFEL SHOW, SPRING 2012
6FKRHIIHOSUHYLHZHGLWVéQHOX[XU\SHDUOVZLWKWKHWKHPH
Ø)OHXUV GHV 3DSLOORQVÙ ZKLFK LV LQVSLUHG E\ EXWWHUêLHV
DQGêRZHUEORVVRPVIRUWKHODWHVW6SULQJMHZHOOHU\
collection, hosted by Poh Kong, the sole distributor in
Malaysia, for patrons and supporters at the Kuala Lumpur
Hilton.
The pieces are shaped in an 18 carat gold setting,
integrating both diamonds and handcrafted mother-ofSHDUO LQ D GLPHQVLRQDO êRZHU DQG EXWWHUê\ PRWLYH $
pearl is selected to be featured as the centrepiece.
Six international models paraded twelve distinct pearl
jewellery sets, capturing the eyes of discerning guests
with every movement in a well cheoreographed show
UHêHFWLQJWKHWKHPH
Poh Kong’s
2012 Art
of
Auspicious
Jewellery
Collection which was launched
at its manufacturing facility in
Shah Alam is available at Poh
Kong outlets nationwide.
Ms Christine Choon, Poh
Kong’s Director, poses with
some of the Art of Auspicious
Jewellery Collection.
Models posing the new Schoeffel
Collection with Ms Alice Choon,
Poh
Kong’s
Merchandising
Director, and Mr Joseph Lim,
Schoeffel Manager for Asia3DFLéF
POH KONG UNVEILS “FAMILY TIMES” CAMPAIGN
A Celebration of Parents’ Day & Leap Month
In conjunction with the Parents’ Day and the Leap Month of the Dragon Year, Poh Kong endorsed
celebrity Aunty Lai Meng to launch the “Family Times” campaign ‘A Celebration of Leap Month &
3DUHQWVÙ'D\ÙWRSURPRWHWKHLPSRUWDQFHRIIDPLO\ERQGLQJDQGWRUDLVHWKHDZDUHQHVVRIéOLDOSLHW\
Malaysian veteran actress Aunt Lai Meng, 85, who has been active since late 1950s, was appointed
as the “Joy Ambassador” for this campaign due to her kind, loving, motherly role on and off
VFUHHQRYHUWKHGHFDGHVZKHUHKHUDSSHDUDQFHVDQGSRVLWLYHHQHUJ\KDYHKDGJUHDWLQêXHQFHV
on her audiences of different generations. She made her appearances at selected venues in the
campaign to share her experiences and thoughts in playing different roles.
Poh Kong organized exciting contests and attractive prizes
during the campaign for the public at the venues in conjunction
with the leap month and parents’ day celebration where
traditionally gifting gold jewellery to elder family members
will bring good fortune, enhanced longevity and good health.
MAKE LOVE MEMOIRS – THE LOVE STORY FACEBOOK CONTEST
It was a grand affair at the Mid Valley Centre Court, as Poh
Kong held its “Make Love Memoirs – The Love Story Facebook
Contest” where nine couples in this contest got their shot at
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their spouse in the most touching, creative and original way.
The contest offered prizes worth up to a total of RM80,000 and
received an overwhelming response, with many heartwarming
and often amusing stories that spoke of unconditional love.
Celebrities Peggy Lai, Wong Chui Ling, and Mr Siow Der Ming,
PKHB Executive Director, were judges for the Love Story Contest.
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the opportunity to propose again to their partners on the
stage to win the Grand Prize in each category of more
than RM10,000, including an Angel Diamond ring worth
RM8,000, a 2-day 1-night all inclusive package for two from
Golden Palm Tree Iconic Resort & Spa, and professional
photography package from Touch & Tom Wedding Group.
The nominee of the Grand Prize winner also won Poh Kong
jewellery worth RM5,000.
2012
ANNUAL REPORT
11
EVENTS / NEW PRODUCTS /
CAMPAIGNS …
POH KONG PRESENTS PRESTIGIOUS
JEWELLERY SHOWS IN PENANG
12
Poh Kong hosted its largest prestigious jewellery
event showcasing more than 1,000 pieces of the latest
diamonds and gemsets comprising of four main brands
from Europe with a total value of more than RM10
million in Penang’s G-Hotel recently.
The exquisite and iconic jewellery brands were from
Poh Kong’s international partners, such as Schoeffel
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Moraglione 1922 from Italy, and Angel Diamond from
Belgium.
AWARDS…
POH KONG RECEIVES `MRCA ELITE AWARD’
Dato’ Eddie Choon, PKHB’s Executive Chairman & Group
Managing Director, receiving the Malaysian RetailerChains Association (MRCA) Elite Awards at MRCA’s 20th
Anniversary & Awards Banquet 2012 at Sunway Resort
Hotel & Spa, Bandar Sunway recently.
The award to Poh Kong Holdings Berhad was in recognition
of the Company’s growth and contributions towards the
development of the retail chain industry in the country.
Dato’ Choon was MRCA Founder President in 1972.
The six-day event was divided into a private viewing by
invitation, public viewing at the hotel and at Poh Kong’s
outlet in Queensbay Mall.
Ms Alice Choo, Poh Kong Group’s Merchandising Director, with
some of the jewellery from Moraglione 1922.
TRANZ, INSPIRED BY DESIGN: UNVEILING
THE MARQUE OF THE FUTURE
Poh Kong Holdings Berhad won the bronze for the Best
Event for Press/Media category for its `Tranz, Inspired by
Design: Unveiling the Marque of the Future’ launch in the
Marketing Event Awards 2012.
2012
ANNUAL REPORT
AWARDS…
1 MALAYSIA PEOPLE’S CHOICE SHOP AWARDS
Poh Kong subsidiaries in the Poh Kong Group received the 1Malaysia People’s Choice
Shop Awards in the jewellery and accessories category from the Ministry of Domestic
Trade, Cooperatives & Consumerism in recognition of the Company’s product quality,
reasonable prices of goods and improvement in service.
Formerly known as the Fair Price Shop Awards, assessment of the 1 Malaysia People’s
Choice Shop Awards is based on a voting system by the public and selection by the
Ministry’s committee.
13
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Star Parade.
Mr Albert Gan, Branch Manager, Poh Kong Jewellers Sdn
Bhd received the 1Malaysia People’s Choice Shop Awards
from Datuk Saripuddin Bin Kasin, Secretary General, Ministry
of Domestic Trade, Cooperatives & Consumerism.
Ms
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Jewellers Sdn Bhd.
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ON-THE-ROAD …
Poh Kong conducted various road shows nationwide in conjunction with celebrations of the opening of the 100th Poh Kong
outlet in Malaysia and on the occasion of a variety of festive seasons and public holidays.
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ON-THE-ROAD …
VALENTINE’S DAY – 1 UTAMA, PJ
14
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Local recording artiste Pete
Teo performing love songs.
MOTHER’S DAY - MID-VALLEY MEGAMALL, KL
Mid-Valley “Family Times” Road Show.
Bridal Fair Roadshow at Mid-Valley Megamall.
“Family Times” campaign and joy
ambassador - Malaysian veteran artiste,
Aunty Lai Meng’s `Meet & Greet’ session.
Mailbox of Love for
“dedication” activity by
contestants.
HARI RAYA FESTIVE - ALOR SETAR & 1 UTAMA, PJ
Alor Setar Mall
Roadshow.
1 Utama Fashion show
showcasing latest
Anggun Collection for
Raya Celebrations.
ANNUAL REPORT
2012
POH KONG GALLERY - PAVILION KL
15
Various special performances including a fashion show were held to enhance the branding and launch of
Moraglione 1922, a renowned colored stones brand from Italy.
Supermodel
Amber Chia.
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R&B artiste Reshmonu.
Singer
Daniel Lee.
DIAMOND BOUTIQUE – TEBRAU, JOHORE
Crowd witnessing “Love of Magic” at Diamond Boutique road
show in Tebrau.
A couple had fun playing “Flick the Ring“ game.
Board Of Directors
YANG BHG DATO’ CHOON YEE SEIONG
Executive Chairman and Group Managing Director
16
MR CHEONG TECK CHONG
Executive Director
MR CHOON YEE BIN
Executive Director
MADAM CHOON NEE SIEW
Executive Director
DR CHOONG TUCK YEW
Senior Independent Non-Executive Director
MR CHANG KWONG HIM
Executive director
ENCIK FAZRIN AZWAR BIN MD NOR
Independent Non-Executive Director
MR SIOW DER MING
Executive Director
DATIN SHIRLEY YUE SHOU HOW
YANG BHG DATO’ CHOON YEE SEIONG
Executive Chairman & Group Managing Director
Yg Bhg Dato’ Choon Yee Seiong, age 58 years, a Malaysian, was appointed to the Board of Directors of Poh Kong Holdings
Berhad (PKHB) as Executive Chairman & Group Managing Director on 13 January 2004. A leader and visionary in the industry,
Dato’ Choon was one the founders of Poh Kong Jewellers Sdn Bhd (PKJ) in 1976 at the age of 22. He has since headed the
Poh Kong Group making it the largest jewellery retail chain store in Malaysia with 104 outlets nationwide. He holds numerous
directorships in the companies within the Group. He also serves as a member of the Remuneration Committee of PKHB.
Dato’ Choon is responsible for the overall strategy and marketing, management policies, expansion and operations. His ability
to direct and manage his teams has seen Poh Kong’s successful expansion in setting up retail stores in almost all major
shopping malls in the country to better serve their customers. Under his leadership, a manufacturing facility in Shah Alam
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the business with discipline, sincerity, loyalty, prudence and intelligence has been demonstrated to his managers and staff
persistently over the years. He has proven that jewellery retailing is a serious hands-on business which requires resilience,
focus, hard work, observation and perseverance to succeed.
He has been instrumental in the acquisition of companies, the successful development of a portfolio of international and
speciality brands, and pioneering retail concept stores. In the past, he was the prime mover in developing sole distributorship
for world-renowned international jewellery brands, such as Disney, Schoeffel luxury pearls from Germany, Angel Diamond
from Belgium, Luca Carati and Verdi Gioielli from Italy. In 2012, he sealed a partnership with one of Europe’s notable jewellers
Moraglione 1922 to carry their iconic collections which are inspired by the Royal houses of Spain, Monaco and Russia.
He has won several domestic acclaim for his outstanding achievements as a leading jeweller. These include the “19 Years At
The Top Award” given by Malaysia Tatler in 2008, “Super Star Of The Year 2008” by the Malaysian Retailer-Chains Association
(MRCA), and recognition in the “MRCA Achievers Book 2010” for being one of the outstanding and leading entrepreneurs in the
development of the retail chains industry over the past years.
Dato’ Choon was Founder President of the MRCA in 1992, that has provided an avenue for retail businesses networking among
members to promote the healthy expansion of the retail industry, both locally and internationally. He was also former president
of various goldsmith and jewellers associations in the country.
He is the spouse of Datin Hon Wee Fong. His sibilings Madam Choon Nee Siew, Madam Choon Yoke Ying, Encik Mohd Annuar
Choon Bin Abdullah, Madam Choon Wan Joo, Mr Choon Yee Bin and Madam Choon Ching Yih are shareholders of the Company.
His brothers-in-law Mr Siow Der Ming and Mr Chang Kwong Him are also shareholders of the Company. Mr Choon King Han is
the son of Dato’ Choon and is a shareholder of the Company.
2012
ANNUAL REPORT
Profile Of Board Of Directors
17
MR CHEONG TECK CHONG
Executive Director
Mr Cheong Teck Chong, age 63 years, a Malaysian, was appointed to the Board of Directors of PKHB as Executive Director on
13 January 2004.
18
A veteran in the jewellery industry, he was a co-founder of PKJ in 1976. Mr Cheong began his career in the gold jewellery
industry in 1967 and rose to the rank of General Manager in Lian Sin Pawnshop. He became a Partner of Lian Yik Goldsmith in
1972 until 1980. In 1982, he was appointed Managing Director of PKJ (SS2) Sdn Bhd, Petaling Jaya. Mr Cheong assists in the
growth, development and expansion of the Group.
He also sits as a director of other companies within the Group and is a director and shareholder of Lian Sin Tang Sdn Bhd, Heng
Seng Sdn Bhd and a director of Pajak Gadai Rakyat Sdn Bhd.
Mr Cheong is the spouse of Madam Pang Cheow Moi. Mr Cheong’s sibiling Madam Cheong Siew Loi @ Chong Kim Looi is also
a shareholder of the Company. His children Ms Cheong Poh See and Mr Cheong Chee Kong are shareholders of the Company.
MADAM CHOON NEE SIEW
Executive Director
Madam Choon Nee Siew, age 57 years, a Malaysian, was appointed to the Board of Directors of PKHB as Executive Director on
13 January 2004.
She brings with her more than 30 years of experience in the jewellery industry having held several portfolios over the years.
She started her career in 1972 as a Sales Representative in Lian Yik Jewellery. In 1980, she left the company to join PKJ as
a Sales Manager. Two years later, she was appointed Director of PKJ (SS2) Sdn Bhd and in 1991 was promoted to Managing
Director of PKJ (Subang Parade) Sdn Bhd.
Her main responsibilities are in overseeing the daily retail operations and development of the Group. She also holds
directorships of several other companies within the Group and with her vast experience in the jewellery retail trade has
contributed invaluably to the Group’s growth and development.
Madam Choon Nee Siew’s sibilings Dato’ Choon Yee Seiong, Madam Choon Yoke Ying, Encik Mohd Annuar Choon Bin Abdullah,
Madam Choon Wan Joo, Mr Choon Yee Bin and Madam Choon Ching Yih are shareholders of the Company. His brothers-in-law
Mr Siow Der Ming and Mr Chang Kwong Him are also shareholders of the Company. Her children Ms Cheong Poh See and Mr
Cheong Chee Kong are shareholders of the Company.
MR CHANG KWONG HIM
Executive Director
Mr Chang Kwong Him, age 62 years, a Malaysian was re-appointed to the Board of Directors of PKHB as Executive Director on
15 March 2012. He last served as Executive Director of PKHB from 2004 to 2007.
He joined Chang Kam Yee Sawmill in 1969 as Factory Manager. In 1982, he became a Director of PKJ (SS2) Sdn Bhd and in 1985,
he returned as a Factory Manager at Chang Kam Yee Sawmill. He was appointed Managing Director of PKJ (The Mall) Sdn Bhd
in 1987. Besides the Mall, his main responsibility is managing the daily operations of Sogo, and AEON Cheras Selatan. He holds
directorships of other companies within the Group.
In addition, he is also a Director of Chang Kam Yee & Sons Sdn Bhd which is involved in sawmilling, a Director of Ketyoh Sdn Bhd,
a wood moulding works company, a Director of Rancang Duta Sdn Bhd, and a Director of Superior Valve Development Sdn Bhd.
Mr Chang is the spouse of Madam Yoke Ying whose siblings Dato’ Choon Yee Seiong, Madam Choon Nee Siew, Encik Mohd
Annuar Choon Bin Abdullah, Madam Choon Wan Joo, Mr Choon Yee Bin and Madam Choon Ching Yih are shareholders of the
Company. He is also the brother-in-law of Mr Siow Der Ming who is a shareholder of the Company.
MR SIOW DER MING
Executive Director
Mr Siow Der Ming, age 55 years, a Malaysian was re-appointed to the Board of Directors of PKHB as Executive Director on 15
March 2012. He last served as Executive Director of PKHB from 2004 to 2007.
Mr Siow graduated with a Bachelor of Science (Hons) degree majoring in chemistry from the University of Malaya in 1981. Soon
after, he worked as a Chemist and Quality Control Executive with Kee Huat Industry Sdn Bhd in Shah Alam, a manufacturer of
gas cookers and washing machines. In 1983, he left to join Metatrade Sdn Bhd as a Sales Marketing Executive in charge of the
marketing of speciality and industrial chemicals. In 1986, he was promoted to Technical Manager at Metachem Sdn Bhd and
was responsible for quality control, research and development in rubber chemicals.
He is a veteran in the jewellery industry with over 20 years experience. He joined Poh Kong in 1989 and was appointed Managing
Director of Poh Kong Jewellers (Maluri) Sdn Bhd. In 2002, he was appointed Director of Poh Kong Jewellers (Franchise) Sdn
Bhd in charge of the overall strategic management and operation of the Franchise Division. His main responsibility is managing
daily operations at several retails, such as Jusco Maluri, Leisure Mall, Axis Atrium, Tesco Extra Cheras and Giant Kinrara. He
also holds directorships of other companies within the Poh Kong Group.
He is the Deputy President of the Federation of Goldsmiths and Jewellers Associations of Malaysia (FGJAM) and President of
the Goldsmith and Jewellers Association of Wilayah Persekutuan, Selangor, Negri Sembilan and Pahang.
Mr Siow is the spouse of Madam Choon Wan Joo whose siblings Dato’ Choon Yee Seiong, Madam Choon Nee Siew, Madam
Choon Yoke Ying, Encik Mohd Annuar Choon Bin Abdullah, Mr Choon Yee Bin and Madam Choon Ching Yih are shareholders of the
Company. He is also the brother-in-law of Mr Chang Kwong Him who is a shareholder of the Company.
2012
ANNUAL REPORT
19
MR CHOON YEE BIN
Executive Director
Mr Choon Yee Bin, age 44 years, was appointed to the Board of Directors of PKHB as Executive Director on 15 March 2012.
20
He started his career as a goldsmith with Precious Jewellery Sdn Bhd in 1984 and a year later, was promoted to Production
Supervisor. In 1991, Mr Choon was appointed Assistant Managing Director of Poh Kong Jewellery Manufacturer Sdn Bhd
(PKJM). In 1994, he set up the wholesale division that sources a wide range of products for all the retail outlets under the Poh
Kong Group.
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precious and semi-precious stones. He oversees the marketing, wholesale, production and human resources departments of
PKJM. He also holds directorships of other companies within the Group.
Mr Choon Yee Bin’s sibilings Dato’ Choon Yee Seiong, Madam Choon New Siew, Madam Choon Yoke Ying, Encik Mohd Annuar
Choon Bin Abdullah, Madam Choon Wan Joo and Madam Choon Ching Yih are shareholders of the Company. His brothers-inlaw Mr Siow Der Ming and Mr Chang Kwong Him are also shareholders of the Company.
DR CHOONG TUCK YEW
Dr Choong Tuck Yew, age 74 years, a Malaysian, was appointed to the Board of Directors of PKHB as an Independent NonExecutive Director on 13 January 2004. He was promoted to Senior Independent Non-Executive Director in 2005.
He possesses a DComSc, a MBA and is a Chartered Member of the Malaysian Institute of Accountants (MIA), and a member
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Association of the Institute of Chartered Secretaries and Administrators, a Fellow of the Chartered Taxation Institute of Malaysia,
and a Chartered Fellow, as well as, a Chartered Audit Committee Director of the Institute of Internal Auditors, Malaysia.
In the early years of his career, Dr Choong worked as an accountant in several companies. In 1968, he joined Bank Negara
Malaysia (Central Bank of Malaysia) and, in 1987, he was appointed as the Chief Manager of the Central Bank of Malaysia. In
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the Deputy Chairman of C & C Investigation Services Sdn Bhd, a licensed private investigation company.
His other business interests include directorships at OSK-UOB Investment Management Berhad, OSK-UOB Islamic Fund
Management Berhad and SCC Holdings Bhd.
Presently, Dr Choong is the Council Member of the World Association of Detectives. He has been a guest speaker at various
conferences in Malaysia as well as abroad.
Dr Choong is the Chairman of the Audit Committee and a member of the Remuneration and Nomination Committees of PKHB.
ENCIK FAZRIN AZWAR BIN MD NOR
Encik Fazrin Azwar Bin Md Nor, age 46 years, a Malaysian, was appointed to the Board of Directors of PKHB as a Non-Independent
Non-Executive Director on 13 January 2004. He was later re-designated as an Independent Non- Executive Director in 2005.
An advocate and solicitor, Encik Fazrin was called to the Malaysian BAR in 1991 following his graduation with a Bachelor of
Laws (LLB) Honours from University of Malaya in 1990. He is currently the Managing Partner of Messrs Azwar & Associates.
In listed companies, he holds the following positions: as an Independent Non-Executive Chairman of Mercury Industries Berhad
and an Independent Non-Executive Director of Tong Herr Resources Berhad, Ire-Tex Corporation Berhad and Daya Materials
Berhad. He was also previously an Independent Non- Executive Director of Englotechs Holding Berhad, Tek Seng Holdings
Berhad and DPS Resources Berhad.
In non-listed companies, he holds the position as an Independent Non- Executive Director of Times Offset (M) Sdn Bhd. He is
also a Non-Independent Non-Executive Director of Kuchinta Tenaga Hijau Sdn Bhd, Agni Power Sdn Bhd, Nirzaf Holdings Sdn
Bhd and the Kuchinta Group of Companies.
He is also a member of the Malaysian Institute of Directors and the Internal Auditors Institute of Malaysia.
Encik Fazrin is the Chairman of the Nomination Committee, a member of the Remuneration Committee and a member of the
Audit Committee of PKHB.
DATIN SHIRLEY YUE SHOU HOW
Datin Shirley Yue Shou How, age 64 years, a Malaysian, was appointed to the Board of Directors of PKHB as an Independent
Non-Executive Director on 23 January 2009.
Datin Yue has 24 years experience in the local and foreign luxury fashion retail, business development and consulting, and
investment banking industry.
She was Managing Director/General Manager of Fine Lines, a company dealing with imported lady apparels and high-end
bespoke orders from 1985 to 1993. Subsequently, she served as Investment Advisor of Credit Lynonnaise Securities (Asia) Ltd
from 1993 to 1998 and was an Investment Banker of Soloman Smith Barney, Citibank Singapore from 2000 to 2003. She has
been a Director of Oilvest Engineering (M) Sdn Bhd & Elbex Holdings Sdn Bhd since 2004. She served as Boutique Manager of
Chopard, Pavilion, Kuala Lumpur from 2007 to 2008.
Datin Yue holds a Graduate Diploma in Business Administration (post graduate degree) from the University of Western Sydney,
Australia, a member of the Malaysian Institute of Management and a Chartered Audit Committee Director (CACD) of the
Institute of Internal Auditors, Malaysia.
She is also the Chairperson of the Remuneration Committee, and a Member of the Nomination Committee and the Audit
Committee of PKHB.
Save as disclosed above, none of the Directors has :
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2012
ANNUAL REPORT
21
Chairman’s Statement
Dear Valued Shareholders,
On behalf of the Board of
Directors (“Board”) of Poh
Kong Holdings Berhad (“the
Company” or “PKHB”), I am
pleased to present the Annual
Report and Audited Financial
Statements of the Company and
its subsidiaries (“the Group”) for
the financial year ended 31July
2012 (“FYE 2012”).
22
ECONOMIC AND RETAIL OUTLOOK
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debt issue continue to escalate. In addition, the high unemployment rates in the advanced economies together with the heavy debt
burden also weighed down the global economic outlook.
In Malaysia, the underlying strength of the domestic economy remained intact as domestic demand continued to support growth.
The country is not as vulnerable as developed countries as 69% of the gross domestic product (GDP) comprises domestic
consumption while 22% is investment, about 7% is net trade, and the rest is inventory.* Going forward, the recently announced
Budget 2013 forecasts the local economy to strengthen further and achieve a GDP growth at 4.5% to 5% in 2012 and at 4.5% to
5.5% in 2013.**
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by the Government under its Economic Transformation Programme. Retail Group Malaysia (RGM), an independent retail research
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In view of RGM’s optimistic forecasts and various measures by the Government aimed at increasing per capita income and
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of jewellery products. However, consumer sentiment can change with steady economic growth and as a result, lead to more
FRQVXPHUFRQéGHQFHDQGGRPHVWLFFRQVXPSWLRQLQFOXGLQJVSHQGLQJRQOX[XU\SURGXFWVVXFKDVMHZHOOHU\3RK.RQJLVFRQéGHQW
of higher levels of consumer spending due to Kuala Lumpur’s ranking as the world’s 4th best shopping destination by CNN
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Switzerland.****
Sources:
*
Reported in StarBiz, 22 October 2012 “Transformation Blues” by Dato’ Sri Idris Jala, Deputy Minister in Prime Minister’s Department
**
Reported in StarSpecial (Economic Report), 29 September 2012
*** Reported in StarBiz, 8 October 2012
**** Reported in The Star, 23 November 2012 and New Straits Times, 27 November 2012
REVIEW OF FINANCIAL PERFORMANCE
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Group’s total revenue was higher at RM830.1 million as
compared to the revenue of RM692.4 million in the previous
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was RM137.7 million or an increment of 20% over FYE2011
was attributed to an upsurge in domestic prices of gold, sales
contribution by new outlets and existing stores registering
higher sales nationwide.
The demand for gold-based jewellery and gold investment
products comprising gold bullions, gold bars, gold coins
and wafers increased in FYE2012 under review. Retailing of
gold-related jewellery and gold investment products are the
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enhanced by its gold inventories.
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last year’s corresponding period of FYE2011; an increase of
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mainly due to higher sales revenue, and an improvement in
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As at 31 July 2012, the Group’s net assets recorded an
increase of RM45.8 million at RM391.8 million over the
previous year of RM346.0 million.
REVIEW OF OPERATIONS
PKHB is an investment holding company that provides
management services while the core activities of its
subsidiaries are manufacturers, dealers, suppliers,
retailers and exporter of jewellery, precious stones and gold
ornaments.
The Group’s revenue is largely derived from retail segment
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gold-based jewellery and gemstones to the retail outlets
nationwide. The Poh Kong Group, the country’s largest
jeweller by revenue and size, is Malaysia’s leading retail
chain store specializing in jewellery retailing nationwide and
manufacturing.
Although the Company has the largest retail network
nationwide, it will actively look for opportunities to expand
and build its market share. It will also continue to look for
strategic locations overseas for manufacturing and retail
operations to further grow its business.
It has embarked on a group-wide internal reorganization
exercise that would consolidate the Group’s existing
businesses into six core activities, namely Retail, Wholesale &
Distribution, Manufacturing, Property Investment, Franchise,
and Overseas Investment.
The internal reorganization will result in the winding up of
non-key or dormant subsidiaries, and the acquisition of all
the retail businesses by Poh Kong Jewellers Sdn Bhd which
will be the sole entity managing the retail outlets.
In line with this internal reorganisation, the Group will
consolidate all its existing banking facilities amongst the
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structure that comprises primarily of Bankers’ Acceptance
and the Islamic Commercial Papers/Islamic Medium Term
Notes (ICP/IMTN) Programme.
The Group is an integrated one-stop jeweller, from
manufacturer to retailer of gold, diamonds and precious
stones. In addition to retailing gold jewellery, the Group offers
a range of non-gold jewellery to meet the needs of different
customers via retail concept stores. It has various strategic
partnerships with international brand names to strengthen
its position in the market besides its traditional gold-based
jewellery and gold ornamental products.
7KH*URXSIDFHVVLJQLéFDQWFRPSHWLWLRQIURPDODUJHQXPEHU
of local jewellery retailers, as well as imported jewellery,
making the competitive environment more intense. It
mitigates this competitive pressure by reinforcing its
established track record, instilling consumer awareness
of the Poh Kong brand and implementing brand building
campaigns to emphasise the quality of its products and
creating strong customer loyalty.
2012
ANNUAL REPORT
23
0RYLQJ DKHDG WKH *URXS ZLOO VWULYH WR LPSURYH LWV SURéW
margins via internal reorganization, consolidation of all its
existing banking facilities via the Group’s funding and capital
expenditure requirement, coupled with more strategic
alliances and partnerships with business associates and
principals.
24
,Q DGGLWLRQ WR D ZLGH DUUD\ RI éQH DQG H[TXLVLWH MHZHOOHU\
gold-related jewellery, and gold investment products in Poh
Kong, patrons can visit other retail outlets or the concept
stores, such as Poh Kong Gallery, Diamond & Gold, Diamond
Boutique, Jade Gallery, Tranz and Oro Bianco.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
RETAILING AND BRANDING
The Group is recognized as Malaysia’s largest jewellery
retail chain store with 104 outlets nationwide and has its
own manufacturing facility situated in Shah Alam. The plant
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VWULQJHQW TXDOLW\ PHDVXUHV DQG VSHFLéFDWLRQV IRU H[FOXVLYH
distribution to only Poh Kong outlets throughout the country.
The Poh Kong brand name is synonymous with design
excellence, superior quality and meticulous craftsmanship.
7KLV LV UHêHFWHG LQ VHYHUDO RI LWV LQKRXVH EUDQGV VXFK
as Tranz, Happy Love, Anggun, and The Art of Auspicious
Jewellery.
Tranz is an Italian-inspired brand that offers contemporary
gold jewellery for bold and daring men and women. It evokes
DVHQVHRIVHOIFRQéGHQFHDQGSHUVHYHUDQFHZLWKDQRKROGV
barred attitude, thus further accentuating the individuality of
the wearer. Tranz comes in four themed collections – Nature,
Classic, Love, and Duet. Happy Love boasts a collection of
distinctive oriental gold jewellery, while Anggun features
$VLDQLQVSLUHGGHVLJQVRIêRUDOPRWLIVWKDWUHêHFWWKHEHDXW\
RIQDWXUHÙVêRUD7KHYDULRXVFROOHFWLRQVXQGHUWKH$QJJXQ
brand are Alamanda, Bunga Raya, Manja, Okid, and Melur.
The Art of Auspicious Jewellery is a showcase of well-crafted
masterpieces designed with fengshui elements in mind,
denoting blessings of good fortune and longevity.
Poh Kong is the licensee for Disney Jewellery, timeless brands
adored by adults and children alike. It is sole distributor for
international luxury pearls Schoeffel from Germany. Angel
'LDPRQG WKH ZRUOGÙV éUVW ,GHDO 6TXDUH &XW +HDUWV DQG
Arrows Diamond from Belgium is exclusive to Poh Kong. Also
in the stable are Luca Carati and Verdi Gioielli, two of Italy’s
most prestigious luxury jewellers with expert craftsmanship
DQGLQYDOXDEOHH[SHULHQFHLQéQHVWPDWHULDODFTXLVLWLRQ3RK
Kong’s latest partner is Moraglione 1922, a company in Italy
reputed for its craftsmanship and passion, has collections
that draw inspiration from the Houses of European royalty in
Spain, Monaco and Russia.
The Group initiated several CSR activities during the year,
including visits to children’s and old folks homes. The children
from orphanages and the destitute and elderly from welfare
homes were presented gifts of clothing, food, drinks and cash
contributed by Poh Kong staff.
The principles and practices of CSR in doing volunteer
charity work has become a tradition of the staff and Company
LQ IXOéOOLQJ LWV VRFLDO UHVSRQVLELOLWLHV LQ KHOSLQJ WKH OHVV
privileged in society.
The Group’s CSR’s activities are set out on pages 38 to 42 of
this Annual Report.
FUTURE PROSPECTS
Whist the prospects for the Malaysian economy remains
positive in 2013, the unfavourable conditions and uncertainties
RIWKH(XUR]RQHVRYHUHLJQGHEWVLVVXHWKH86éVFDOFOLIIDQG
the resulting volatility and high unemployment rates have
been a damper to the world economy.
The Group operates in a very competitive environment in the
jewellery industry. It plans to continue in its drive to build a
larger share of the market by enhancing and differentiating
its product offerings to its targeted segments.
Poh Kong’s management actively evaluates various initiatives
and opportunities to attract new customers through the
introduction of new jewellery designs and collections, and
offers excellent customer and personalized service at various
WRXFKSRLQWVDWLWVRXWOHWVWRHQKDQFHDQGIXOéOOFXVWRPHUVÙ
shopping experience.
DIVIDEND
Although gold-based jewellery and investment products,
such as gold bars, gold coins and gold wafers, will continue to
contribute to the total revenue, the Group also faces routine
business risks, such as future economic downturn, consumer
SHVVLPLVP PRQWKO\ VDOHV êXFWXDWLRQV GXH WR QRQIHVWLYH
VHDVRQVêXFWXDWLQJUDZPDWHULDOVSULFHVIRUHLJQH[FKDQJH
rates, and strong competition from industry players. Gold is
universally regarded as a store of value and investment, a
KHGJHDJDLQVWLQêDWLRQDQGJOREDOFXUUHQF\ULVNV
The proposed dividend is subject to shareholders’ approval
at the 10th Annual General Meeting to be held on 31 January
2013.
Given the intense competition from industry players and
changing business landscape, the Group envisions a
challenging year ahead. Poh Kong is cautiously optimistic of
WKH*URXSÙVJURZWKSURVSHFWVDQGLVDJDLQFRQéGHQWRIIDFLQJ
the global economic turbulence and various business risks.
To meet the Group’s objective in maintaining sustainable
growth in the coming year, the growth strategy will be to
PD[LPL]HWKHXWLOL]DWLRQRIUHVRXUFHVéQHWXQHLWVRSHUDWLRQV
HIéFLHQF\DQGFRVWFRQWUROWRLPSURYHLWVSHUIRUPDQFHIRUWKH
éQDQFLDO\HDUHQGLQJ)<(
7KH %RDUG RI 'LUHFWRUV UHFRPPHQG D éUVW DQG éQDO VLQJOH
tier dividend of 1.50 sen per ordinary share of RM0.50 each in
UHVSHFWRIWKHéQDQFLDO\HDUHQGHG-XO\
sen single tier dividend per ordinary share of RM0.50 each).
ACKNOWLEDGEMENTS
I take this opportunity to thank my fellow Board members
for their guidance and valuable service and on behalf of the
Board of Directors, I would also like to thank the Management
and Staff for their commitment , dedication and contributions
towards the Group during the year.
Our appreciation also goes to our valued shareholders,
customers, consultants, business associates, Government
DJHQFLHV EDQNHUV éQDQFLHUV VXSSOLHUV DQG SDUWQHUV IRU
WKHLUFRQWLQXHGVXSSRUWWUXVWDQGFRQéGHQFHLQWKH*URXS
DATO’ CHOON YEE SEIONG
EXECUTIVE CHAIRMAN & GROUP MANAGING DIRECTOR
24 December 2012
Barring unforeseen circumstances, the Board forecasts
positive performance of the Group in FYE 2013.
EARNINGS PER SHARE
7KHEDVLFHDUQLQJVSHUVKDUHIRUWKHéQDQFLDO\HDUHQGHG
HEDVLFHDUQLQJVSHU
HUVK
VKD
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WKH
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éQDQF
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LDO\H
\ DUHQG
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H Julyy 2012 stands att 12.57
12.5
12
57 sen
sen (2011:
se
(20
2011
11:: 10.04
11
10.04
04 sen).
sen)
n).
).
2012
ANNUAL REPORT
25
Penyata Pengerusi
Pemegang-pemegang Saham
yang Dihargai,
26
Bagi
pihak
Lembaga
Pengarah
(“Lembaga”) Poh Kong Holdings Berhad
(“Syarikat” atau “PKHB”), saya dengan
sukacitanya membentangkan Laporan
Tahunan dan Penyata Kewangan Teraudit
Syarikat dan anak-anak syarikatnya
(“Kumpulan”) bagi tahun kewangan
berakhir 31 Julai 2012 (“FYE 2012”).
TINJAUAN EKONOMI DAN SEKTOR RUNCIT
Jangkaan pemulihan kewangan dalam ekonomi US masih agak perlahan manakala ekonomi di negara-negara zon Euro
terjejas oleh masalah hutang kerajaan yang terus meningkat. Selain itu, kadar pengangguran yang tinggi di beberapa ekonomi
maju berserta dengan beban hutang yang tinggi juga turut mempengaruhi tinjauan ekonomi global.
Di Malaysia, asas kekuatan ekonomi domestik kekal utuh apabila permintaan domestik terus menyokong pertumbuhan.
Negara ini tidak terdedah sepertimana negara-negara maju memandangkan 69% daripada Keluaran Dalam Negeri Kasar
(KDNK) terdiri daripada penggunaan domestik manakala 22% adalah pelaburan, lebih kurang 7% adalah perdagangan bersih,
dan selebihnya adalah inventori.* Maju ke hadapan, Bajet 2013 yang diumumkan baru-baru ini meramalkan bahawa ekonomi
tempatan akan bertambah kukuh dan mencapai pertumbuhan KDNK sebanyak 4.5% hingga 5% pada tahun 2012 dan sebanyak
4.5% hingga 5.5% pada tahun 2013.**
Industri runcit Malaysia mencatat pertumbuhan jualan sebanyak 6.9% pada suku pertama tahun ini, dirangsang oleh pelbagai
inisiatif yang diperkenalkan oleh Kerajaan di bawah Program Transformasi Ekonomi. Retail Group Malaysia (RGM), sebuah
éUPD SHQ\HOLGLNDQ UXQFLW EHEDV PHQJXQMXUNDQ LQGXVWUL UXQFLW DNDQ EHUNHPEDQJ VHEDQ\DN SDGD VXNX NHHPSDW GDQ
mencapai pertumbuhan setahun penuh sebanyak 6% tahun ini.***
Mengambil kira ramalan optimis RGM dan pelbagai langkah yang diambil oleh Kerajaan yang bertujuan untuk meningkatkan
pendapatan per kapita dan menggalakkan perbelanjaan, Poh Kong akan terus berusaha untuk melipat gandakan lagi asas
perolehannya dan kedudukan kewangannya.
Di sebalik kelemahan ekonomi di US dan zon Euro, naik turun harga emas telah mempengaruhi sentimen pengguna dalam
pembelian produk barang kemas. Walau bagaimanapun, sentimen pengguna boleh berubah dengan pertumbuhan ekonomi
yang teguh dan akibatnya, membawa kepada keyakinan pengguna dan penggunaan domestik yang lebih tinggi, termasuk
perbelanjaan ke atas produk mewah seperti barang kemas. Poh Kong yakin terhadap tahap perbelanjaan pengguna yang lebih
tinggi kerana kedudukan Kuala Lumpur sebagai destinasi membeli-belah keempat terbaik dunia oleh CNN Travel dan bandar
UD\DPHPEHOLEHODKNHGXDWHUEDLNGL$VLD3DVLéNROHK*OREH6KRSSHU,QGH[VDWXWLQMDXDQGDULSDGD8QLW3HQ\HOLGLNDQ3DNDU
Ekonomi di Switzerland.****
Sumber:
*
Dilaporkan dalam StarBiz, 22 Oktober 2012 “Transformation Blues” oleh Dato’ Sri Idris Jala, Timbalan Menteri di Jabatan
Perdana Menteri
**
Dilaporkan dalam StarSpecial (Laporan Ekonomi), 29 September 2012
*** Dilaporkan dalam StarBiz, 8 Oktober 2012
**** Dilaporkan dalam The Star, 23 November 2012 dan New Straits Times, 27 November 2012
ULASAN MENGENAI PRESTASI KEWANGAN
Bagi tahun kewangan berakhir 31 Julai 2012 (FYE 2012), hasil
keseluruhan Kumpulan adalah lebih tinggi sebanyak RM830.1
juta berbanding dengan hasil sebanyak RM692.4 juta pada
tahun kewangan sebelumnya (FYE2011). Peningkatan hasil
bagi FYE 2012 adalah sebanyak RM137.7 juta atau kenaikan
20% berbanding FYE2011 adalah disebabkan oleh kenaikan
harga emas domestik, sumbangan jualan oleh saluransaluran baru dan gedung-gedung sedia ada mencatat jualan
yang lebih tinggi di seluruh negara.
Permintaan bagi barang kemas berasaskan emas dan produk
pelaburan emas yang terdiri daripada bulion emas, jongkong
emas, syiling dan wafer emas telah meningkat pada FYE2012
di bawah kajian. Peruncitan barang kemas berkaitan emas
dan produk pelaburan emas adalah penyumbang hasil
XWDPD3URéOPXGDKWXQDL.XPSXODQWHODKGLWLQJNDWNDQROHK
inventori emasnya.
Keuntungan sebelum cukai sebanyak RM70.9 juta bagi
FYE2012 adalah lebih tinggi berbanding dengan keuntungan
sebelum cukai sebanyak RM57.7 juta dalam tempoh FYE2011
yang sama tahun lepas; meningkat sebanyak RM13.2 juta
atau 23%. Sebahagian besar daripada peningkatan dalam
keuntungan sebelum cukai adalah berpunca daripada hasil
jualan yang lebih tinggi dan peningkatan dalam kecekapan
operasi.
Pada 31 Julai 2012, aset bersih Kumpulan mencatat
peningkatan sebanyak RM45.8 juta kepada RM391.8 juta
berbanding tahun sebelumnya sebanyak RM346.0 juta.
27
Walaupun Syarikat mempunyai rangkaian runcit terbesar di
seluruh negara, ia akan secara aktif mencari peluang untuk
mengembangkan dan membangunkan bahagian pasarannya.
Ia juga akan terus mencari lokasi-lokasi strategik di luar negeri
bagi operasi pengilangan dan runcit untuk mengembangkan lagi
perniagaannya.
Ia telah memulakan langkah penyusunan semula dalaman
kumpulan secara menyeluruh yang akan menyatukan perniagaan
sedia ada Kumpulan ke dalam enam kegiatan teras, iaitu Runcit,
Jualan Borong & Pengedaran, Perkilangan, Pelaburan Hartanah,
Francais, dan Pelaburan Luar Negeri.
Penyusunan
semula
dalaman
akan
mengakibatkan
penggulungan anak-anak syarikat yang tidak penting atau
dorman, dan pengambilalihan kesemua perniagaan runcit oleh
Poh Kong Jewellers Sdn Bhd yang akan menjadi satu-satunya
entiti yang menguruskan saluran runcit.
ULASAN OPERASI
PKHB adalah syarikat pemegangan pelaburan yang
menyediakan khidmat pengurusan manakala kegiatan teras
anak-anak syarikatnya adalah pengilang, wakil penjual,
pembekal, peruncit dan pengeksport barang kemas, batu
permata berharga dan perhiasan emas.
Sebahagian besar daripada hasil Kumpulan diperoleh
daripada segmen runcit manakala segmen pengilangan
membekalkan barang kemas berasaskan emas siap dan
batu permata ke saluran-saluran runcit seluruh negara.
Kumpulan Poh Kong, penjual barang kemas terbesar negara
dari segi hasil dan saiz, adalah gedung rantaian runcit
terkemuka di Malaysia mengkhusus dalam peruncitan
barang kemas seluruh negara dan pengilangan.
2012
ANNUAL REPORT
Penyata Pengerusi
Selaras dengan penyusunan semula dalaman ini, Kumpulan
akan menyatukan kesemua kemudahan perbankan sedia adanya
di kalangan beberapa institusi kewangan dengan struktur
pinjaman baru yang terdiri terutamanya daripada Penerimaan
Jurubank dan Program Surat Niaga Perdagangan Islam/Nota
Berjangka Sederhana Islam (ICP/IMTN).
Kumpulan adalah peniaga barang kemas sehenti bersepadu,
daripada pengilang hinggalah peruncit emas, berlian dan batu
permata berharga. Selain daripada peruncitan barang kemas
emas, Kumpulan menawarkan rangkaian barang kemas bukan
emas untuk memenuhi keperluan pelbagai jenis pelanggan
melalui gedung konsep runcit. Ia mempunyai beberapa
perkongsian strategik dengan nama-nama jenama antarabangsa
untuk mengukuhkan kedudukannya dalam pasaran selain
produk berasaskan emas dan perhiasan emasnya.
Penyata Pengerusi
28
Kumpulan menghadapi persaingan yang ketara daripada
sebilangan besar peruncit barang kemas tempatan, serta barang
kemas import, menjadikan persekitaran persaingan lebih sengit.
Ia mengurangkan tekanan persaingan ini dengan mengukuhkan
rekod prestasinya, memupuk kesedaran pengguna jenama
Poh Kong dan melaksanakan kempen-kempen pembangunan
jenama dengan menitikberatkan kualiti produknya dan
mewujudkan kesetiaan pelanggan yang kukuh.
Maju ke hadapan, Kumpulan akan berusaha untuk
meningkatkan margin keuntungannya melalui penyusunan
semula dalaman, penyatuan semua kemudahan perbankan
sedia adanya melalui keperluan pembiayaan dan
perbelanjaan modal Kumpulan, berserta dengan perikatan
dan perhubungan yang lebih strategik dengan sekutu dan
prinsipal perniagaan.
PERUNCITAN DAN PENJENAMAAN
Kumpulan diiktiraf sebagai gedung rantaian runcit barang
kemas terbesar Malaysia dengan 104 saluran seluruh negara
dan mempunyai kemudahan pengilangannya sendiri yang
terletak di Shah Alam. Loji tersebut berbangga mengeluarkan
jenama-jenama barang kemas berkualiti terbaik di bawah
ODQJNDKODQJNDK GDQ VSHVLéNDVL NXDOLWL XQWXN SHQJHGDUDQ
eksklusif ke saluran-saluran Poh Kong sahaja di seluruh
negara.
Nama jenama Poh Kong sinonim dengan reka bentuk
cemerlang, kualiti terunggul dan ketukangan yang teliti.
Ini dapat dilihat dalam beberapa jenama miliknya sendiri,
seperti Tranz, Happy Love, Anggun, dan The Art of Auspicious
Jewellery.
Tranz adalah jenama inspirasi dari Itali yang menawarkan
barang kemas emas kontemporari untuk jejaka dan wanita
yang bersemangat dan berani. Ia membangkitkan rasa yakin
diri dan ketabahan tanpa mengikut gaya, lantas menyerlahkan
keperibadian si pemakai. Tranz didatangkan dalam empat
koleksi bertemakan – Alam, Klasik, Cinta, dan Berpasangan.
Happy Love menawarkan koleksi barang kemas emas
oriental yang tersendiri, manakala Anggun menampilkan
reka bentuk inspirasi orang Asia bermotifkan bunga-bungaan
\DQJPHQFHUPLQNDQNHLQGDKDQDODPêRUD$QWDUDEHEHUDSD
koleksi di bawah jenama Anggun adalah Alamanda, Bunga
Raya, Manja, Okid, dan Melur. The Art of Auspicious Jewellery
pula mempamerkan karya-karya ukiran halusnya yang direka
dengan elemen-elemen fengshui, melambangkan tuah dan
panjang usia.
Poh Kong adalah pemegang lesen bagi jenama sepanjang
zaman, Disney Jewellery yang menjadi pujaan golongan
dewasa dan juga kanak-kanak. Ia adalah pengedar tunggal
bagi mutiara mewah antarabangsa, Schoeffel dari Jerman.
Angel Diamond, berlian Ideal Square Cut Hearts dan Arrows
Diamond pertama di dunia dari Belgium adalah eksklusif
untuk Poh Kong. Tidak kurang juga hebatnya dengan Luca
Carati dan Verdi Gioielli, dua penjual barang kemas paling
berprestij dari Itali dengan pakar ketukangannya dan
pengalaman yang tidak ternilai dalam pemerolehan bahan
terbaik. Rakan niaga terkini Poh Kong adalah Moraglione
1922, sebuah syarikat dari Itali yang terkenal dengan
ketukangan dan keghairahannya, mempunyai koleksi yang
mendapat inspirasi dari Kediaman-kediaman Diraja Eropah
di Sepanyol, Monaco dan Rusia.
Selain daripada pelbagai barang kemas yang halus dan indah,
barang kemas berkaitan emas, dan produk-produk pelaburan
emas di Poh Kong, pengunjung boleh mengunjungi saluransaluran runcit lain atau gedung-gedung konsep lain, seperti
Poh Kong Gallery, Diamond & Gold, Diamond Boutique, Jade
Gallery, Tranz dan Oro Bianco.
TANGGUNGJAWAB SOSIAL KORPORAT (CSR)
Kumpulan telah memulakan beberapa kegiatan CSR
sepanjang tahun ini, termasuk lawatan ke rumah kanakkanak dan rumah orang-orang tua. Kanak-kanak dari rumah
anak yatim dan hidup melarat serta warga tua dari rumahrumah kebajikan telah diberi sumbangan berbentuk pakaian,
makanan, minuman dan wang tunai oleh kakitangan Poh Kong.
Prinsip-prinsip dan amalan-amalan CSR dalam melakukan
kerja-kerja amal secara sukarela telah menjadi tradisi
kakitangan dan Syarikat dalam memenuhi tanggungjawab
sosialnya demi membantu golongan yang kurang bernasib
baik dalam masyarakat.
Aktiviti-aktiviti CSR Kumpulan dikemukakan pada muka
surat 38 hingga 42 Laporan Tahunan ini.
PROSPEK MASA HADAPAN
Manakala prospek bagi ekonomi Malaysia kekal positif
pada tahun 2013, keadaan yang kurang menggalakkan
dan ketidakpastian masalah hutang kerajaan zon Euro,
NHFRQGRQJDQéVNDO86GDQDNLEDWNHWLGDNWHQWXDQVHUWDNDGDU
pengangguran yang tinggi telah melembapkan ekonomi
dunia.
Kumpulan beroperasi dalam persekitaran yang sangat
bersaingan dalam industri barang kemas. Ia merancang
untuk meneruskan usahanya membangunkan bahagian
pasaran yang lebih besar dengan meningkatkan dan
mempelbagaikan penawaran produknya kepada segmensegmen yang disasarkannya.
Pengurusan Poh Kong secara aktif menilai pelbagai inisiatif
dan peluang-peluang untuk menarik pelanggan-pelanggan
baru melalui pengenalan reka bentuk dan koleksi barang
kemas baru, dan menawarkan perkhidmatan terbaik dan
diperibadi kepada pelanggan dalam pelbagai aspek di
saluran-salurannya untuk meningkatkan dan memenuhi
pengalaman membeli-belah pelanggan.
Walaupun barang kemas dan produk pelaburan berasaskan
emas, seperti jongkong emas, syiling emas dan wafer emas,
akan terus menyumbang kepada hasil keseluruhan, Kumpulan
juga menghadapi risiko-risiko perniagaan rutin, seperti
kemelesetan ekonomi masa hadapan, pesimisme pengguna,
naik turun jualan bulanan disebabkan musim-musim bukan
perayaan, naik turun harga bahan mentah, kadar pertukaran
asing, dan persaingan kukuh daripada pengusaha-pengusaha
industri. Emas secara universal dianggap sebagai simpanan
nilai dan pelaburan, satu bentuk pelindungan nilai terhadap
LQêDVLGDQULVLNRPDWDZDQJJOREDO
Memandangkan persaingan sengit diterima daripada
pengusaha-pengusaha industri dan suasana perniagaan
yang berubah-ubah, Kumpulan membayangkan tahun
mendatang sebagai mencabar. Poh Kong bersikap optimis
terhadap prospek pertumbuhan Kumpulan dan sekali lagi
yakin berdepan dengan pergolakan ekonomi global dan
pelbagai risiko perniagaan.
DIVIDEN
Lembaga Pengarah mengesyorkan dividen satu tier pertama
dan akhir sebanyak 1.50 sen setiap saham biasa bernilai
RM0.50 sesaham berhubung dengan tahun kewangan
berakhir 31 Julai 2012 (2011: 1.40 sen dividen satu tier setiap
saham biasa bernilai RM0.50 sesaham).
Cadangan dividen adalah tertakluk kepada kelulusan
pemegang-pemegang saham pada Mesyuarat Agung
Tahunan Ke-10 yang akan diadakan pada 31 Januari 2013.
PENGHARGAAN
Saya ingin mengambil peluang ini untuk mengucapkan
terima kasih kepada ahli-ahli Lembaga sejawat saya atas
bimbingan dan khidmat bakti tidak ternilai mereka dan bagi
pihak Lembaga Pengarah, saya juga ingin mengucapkan
terima kasih kepada Pengurusan dan Kakitangan atas
komitmen, dedikasi dan sumbangan mereka kepada
Kumpulan sepanjang tahun ini.
Penghargaan ini juga kami tujukan kepada pemegangpemegang saham, pelanggan-pelanggan, perundingperunding, sekutu-sekutu perniagaan, agensi-agensi
Kerajaan,
jurubank-jurubank,
pembiaya-pembiaya,
pembekal-pembekal dan rakan-rakan kongsi atas sokongan,
kepercayaan dan keyakinan berterusan mereka kepada
Kumpulan.
DATO’ CHOON YEE SEIONG
PENGERUSI EKSEKUTIF & PENGARAH URUSAN KUMPULAN
24 Disember 2012
Untuk memenuhi objektif Kumpulan dalam mengekalkan
pertumbuhan yang mapan pada tahun mendatang, strategi
pertumbuhan akan ditingkatkan untuk memaksimumkan
penggunaan sumber, memperhalus kecekapan operasinya
dan kawalan kos untuk meningkatkan prestasinya bagi tahun
kewangan berakhir 2013 (FYE 2013).
Dalam ketiadaan keadaan di luar jangkaan, Lembaga
meramalkan prestasi Kumpulan kekal positif bagi FYE2013.
PEROLEHAN SETIAP SAHAM
Perolehan asas setiap saham bagi tahun kewangan berakhir
31 Julai 2012 adalah sebanyak 12.57 sen (2011: 10.04 sen).
2012
ANNUAL REPORT
Penyata Pengerusi
29
主席报告
30
致尊敬的股东，
我谨代表宝光控股有限公司(“本公司” 或”PKHB”)董事会(“董事会”)欣然提呈本公司及各
子公司(“本集团”)截至 2012 年 7 月 31 日之财政年(“2012 财政年”)的年度报告和已审计
财务报告。
经济和零售业务展望
美国经济预料中的金融领域复苏依然不冷不热，欧元区国家的经济则受主权债务问题继续升级影响。此外，先进经济体
的高失业率加上沉重的债务负担也牵制了全球经济展望。
在马来西亚，由于国内需求继续支持经济增长，国内经济的潜在实力仍然完好。我国并不像发达国家那样脆弱，这是因
为我国的国内生产总值(GDP)有 69% 是国内消费，22% 是投资，大约 7% 是净贸易，其余则是库存*。展望未来，最近公
布的 2013 年预算案预测国内经济将进一步趋稳和在 2012 年取得 4.5% 至 5% 的国内生产总值成长率，2013 年则介于
4.5% 至 5.5%。**
马来西亚零售业在政府通过经济转型计划(ETP)推介的几项激励鼓舞奖励下于今年第一季度取得 6.9% 的销售成长。Retail
Group Malaysia (RGM)，即一家独立零售调查机构，预测零售业将于第四季度扩展 5.5%，并于今年取得 6% 的全年成长
率。***
基于 RGM 的乐观预测和政府为了提高人均收入和鼓励消费而所推行的多项措施，宝光将继续努力进一步改善其收益基
础和财务状况。
尽管美国和欧元区的经济疲弱，金价波动已影响了消费人购买珠宝产品的兴致。然而，消费人兴致可能随着稳健的经济
成长而改变，因此导致消费人信心和国内消费增强，包括消费奢侈产品如珠宝。宝光相信消费人的消费将提升至更高水
平，这是因为吉隆坡获得 CNN Travel 评级为全球第四佳购物目的地，并获得 Globe Shopper Index，即 The Economist
在瑞士之研究单位展开的调查评级为亚洲太平洋第二佳购物城市。****
资料来源:
*
2012 年 10 月 22 日 StarBiz 报道的文章 “Transformation Blues”，由首相署副部长拿督斯里 Idris Jala 撰稿
** 2012 年 9 月 29 日的 StarSpecial (Economic Report)报道
*** 2012 年 10 月 8 日的 StarBiz 报道
**** 2012 年 11 月 23 日的 The Star和 2012 年 11 月 27 日的 New Straits Times报道
财务表现检讨
在截至 2012 年 7 月 31 日的财政年(“2012 财政年”)，宝光集团取得更高的 RM8 亿 3 千零 10 万营业额，相比之下，
前一年(“2011 财政年”)的营业额为 RM6 亿 9 千 2 百 40 万。2012 财政年的营业额比 2011 财政年增长RM1 亿 3 千
7 百 70 万或 20% 可归功于国内金价高涨，全国各地的新分店及和现有分店取得更高销售额。
在受检讨的 2012 财政年，金饰珠宝和黄金投资产品，包
括金锭，金条，金币和金片的需求增加。零售黄金相关珠
宝和黄金投资产品乃是主要的收入来源。本集团的资金流
动状况也因为金饰的库存而改善。
2012 财政年的 RM7 千零 90 万扣税前盈利比去年 2011
财政年同时期的 RM5 千 7 百 70 万扣税前盈利为高；即增
加 RM1 千 3 百 20 万或 23%。扣税前盈利增加主要是因为
销售营业额增加和营运效率改善。
31
截至 2012 年 7 月 31 日，本集团的净资产增加 RM4 千 5
百 80 万而达到 RM3 亿 9 千 1 百 80 万，前一年为 RM3
亿 4 千 6 百万。
营运检讨
宝光控股有限公司是一家提供管理服务的投资控股公司，
其各子公司的核心业务则是珠宝，宝石和金饰的制造商，
代理商，供应商，零售商及出口商。
本集团的收入大多数是来自零售领域，制造领域则供应制
成的金饰珠宝和宝石给全国各地的零售店。以收入和规模
为准，宝光集团是马来西亚领先的零售连锁店，在全国各
地专营珠宝零售和制造业务。
尽管本公司拥有全国最具规模的零售网络，它仍然积极寻
觅机会扩大和建立市场份额。它也将继续在海外为其制造
和零售营运物色策略性地点以进一步扩展业务。
它已展开一项跨集团的内部重组计划，已整合本集团的现
有业务为六种核心活动，即零售，批发和经销，制造，产
业投资，特许经营，以及海外投资。
该内部重组将导致一些非关键或不活跃子公司被清盘，以
及由 Poh Kong Jewellers 私人有限公司收购所有零售业
务，它也将成为各零售分店的唯一个体。
配合这项内部重组，本集团将整合现有向各金融机构的银
行融资于新的借贷结构，主要包括Bankers’Acceptance
和回教式商业票据/回教式中期票据(ICP/IMTN)计划。
本集团是一家综合一站式珠宝商，从事黄金，钻石和宝石
的制造至零售业务。除了零售金饰之外，本集团通过零售
概念店售卖一系列非金饰以迎合不同顾客的需求。它与各
国际品牌进行多项策略性合作以巩固在传统金饰珠宝和金饰
产品以外市场的地位。
本集团面对大量本地珠宝零售商，以及入口珠宝的强烈竞
争，这使到竞争环境更加激烈。它通过改善卓越的纪录，
灌输消费人对宝光品牌的意识和落实品牌建立运动以化解
竞争压力，并专注于产品素质和创造坚定的顾客忠诚度。
展望未来，本集团将致力改善利润，即通过内部重组，根据
本集团的资金和资本开销要求以整合现有的银行借贷，加上
与来往商家和制造商缔造更多策略性联盟和伙伴关系。
2012
ANNUAL REPORT
主席报告
零售和品牌建立
本集团受认同为马来西亚最具规模的珠宝零售连锁店，在
全国各地拥有104家分店和在莎亚南拥有本身的制造厂。
该厂以在严格品质措施和规格下生产高素质珠宝产品为
荣，并且仅分销至全国各地的宝光分店而已。
宝光品牌乃是设计卓越，品质优越和技艺精湛的代名词。这
一点可由其内部品牌，例如Tranz，Happy Love，Anggun，
以及 The Art of Auspicious Jewellery 反映出来。
Tranz是一个灵感来自意大利的品牌，它为勇于标新立
异的男性和女性敬献现代金饰。它通过百无禁忌的心
态以重振人们的自信和毅力感，从而进一步突显佩戴
者的个性。Tranz备有四种主题系列-自然，经典，爱
情，和Duet。HappyLove呈献独特的东方金饰珠宝系
列，Anggun 则别具亚洲风格的花卉图案设计，以反映美
丽的大自然植物。
Anggun 品牌的各种系列为 Alamanda, Bunga Raya, Manja,
Okid, 以及Melur。The Art of Auspicious Jewellery 展现技
艺精湛的杰作，其设计融入风水元素，寓意吉祥和长寿。
宝光持有 Disney 珠宝的执照，即一个老少咸宜的隽永品
牌。它也是来自德国之 Schoeffel国际豪华珍珠的独家经
销商。Angel Diamond，即来自比利时的世界首创 Ideal
Square Cut Hearts 与 Arrows 钻石，也是由宝光独家经
销。它旗下经销也包括 Luca Carati 和 Verdi Gioielli，皆
为意大利最显赫的豪华珠宝商，并以匠心独运和在高级
材料的采购方面拥有宝贵经验著称。宝光的最新伙伴是
Moraglione 1922，它是一家在意大利以技艺和诚意著称
的公司，其系列产品的灵感来自西班牙，摩纳哥和俄罗斯
等的欧洲皇室世家。
除了宝光应有尽有的精致和高级珠宝，金饰珠宝，以及黄
金投资产品之外，贵宾们亦可光顾其他的零售店或概念
店，例如 Poh Kong Gallery, Diamond & Gold, Diamond
Boutique, Jade Gallery, Tranz 和 Oro Bianco。
主席报告
企业社会责任(CSR)
宝光集团在本年度启动多项企业社会责任(CSR)活动，包括
拜访孤儿院和安老院。许多来自孤儿院的儿童和福利所的贫
老都获赠由宝光员工捐助的礼物如衣物，饮食品和捐款。
32
为了实现本集团在来年维持持续成长的目标，其成长策略
为优化资源的运用，细调其营运效率和成本控制，以改善
截至 2013 财政年(2013 财政年)的表现。
若无出现不可预见的情况，董事会预测本集团可在 2013
财政年取得正面表现。
秉承企业社会责任的原则和做法以行善已成为员工和本公司
履行取之社会，用之社会的传统，以协助社会上的弱势者。
每股收益
本集团的各项企业社会责任活动已列于本年度报告的第38
至 42 页。
截至 2012 年 7 月 31 日之财政年的基本每股收益是
12.57 分(2011 年: 10.04 分)。
未来展望
股息
尽管 2013 年的马来西亚经济展望保持乐观，欧元区主权
债务问题，美国财政悬崖等不利状况和不明朗因素，以及
所造成的波动性和高失业率，已牵制了全球经济展望。
董事会建议在截至 2012 年 7 月 31 日之财政年派发每一
RM0.50 普通股 1.50 分的首期和终期单层次股息 (2011 年:
每一 RM0.50 普通股1.40 分的首期和终期单层次股息)。
本集团处在珠宝业的非常竞争营运环境。它有意继续推高市
场份额，即通过提升和多样化献予各顾客群的产品系列。
此建议股息须在 2013 年 1 月 31 日举行的第 10 届年度大
会上获得股东通过。
宝光的管理层积极评估多项倡议和机会，以通过推介新的珠
宝设计和系列以吸引新顾客，以及在其分店各接触点呈献卓
越的顾客和个性化服务，并提升和履行顾客购物体验。
鸣谢
尽管金饰珠宝和投资产品，例如金条，金币和金片将继续
为收入总额作出贡献，本集团也面对经常的商业风险，例
如未来经济不景气，消费人的悲观情绪，非佳节造成的每
月销量波动，原料价格波动，汇率，以及同业的激烈竞争
等。黄金广泛被认为可保值和投资，并且可对冲通货膨胀
和全球货币风险。
鉴于同业的激烈竞争和瞬息万变的营运状况，本集团预测
来年是具挑战性的。宝光对本集团的成长展望持谨慎乐观
态度，但有信心面对全球经济动荡和各项商业风险。
我谨代表董事会感激诸位董事会成员不吝赐教和给予支
持。对于管理层和员工们，谢谢诸位在本年内对本集团的
投入，献身精神和贡献。
我也藉此机会感谢本公司尊贵的股东，顾客，咨询顾问，
来往商家，政府当局，银行，融资机构，供应商和伙伴一
直以来对本集团的支持，信赖和信心。
拿督钟义翔
执行主席兼集团董事经理
2012 年 12 月 24 日
INTRODUCTION
The presence of Independent Non-Executive
'LUHFWRUV IXOéOOV D SLYRWDO UROH LQ FRUSRUDWH
accountability. The role of the Independent NonExecutive Directors is particularly important as
they provide unbiased and independent views,
advice and judgement.
The Board of Poh Kong Holdings Berhad (“the Company”) is
committed to instill a corporate culture of good corporate
governance which is practised throughout the Company and its
subsidiary companies (“the Group”). The Group acknowledges
the importance of corporate governance in enhancing its
business prosperity and corporate accountability with the
absolute objective of realising long-term shareholders’ and
stakeholders’ value.
The Executive Chairman & Group Managing
Director is Dato’ Choon Yee Seiong. There is a
clear division of responsibilities. As the Chairman,
he is responsible for the orderly conduct and
performance of the Board. As the Group Managing
Director, he is responsible for ensuring the Board’s
decisions are implemented, and that the day-to-day
running of the business is in tandem with the goals
and policies sanctioned by the Board. The Managing
Director is subjected to the control of the Board of
Directors.
The Group will continue to endeavor to comply with all the
key principles of the Malaysian Code of Corporate Governance
(“the Code”) in an effort to observe high standards of
transparency, accountability and integrity. This is to sustain
optimal governance with conscientious accountability for
FRQWLQXRXV HIIHFWLYHQHVV HIéFLHQF\ DQG FRPSHWLWLYHQHVV RI
the Group.
Set out below are descriptions of how the Group applied the
Principles of the Code and how the Board has complied with
the Best Practices set out in the Code.
1.
In furtherance of this, Dr Choong Tuck Yew as the
Senior Independent Non-Executive Director assists
with concerns regarding the Company where it
could be inappropriate for those to be dealt with by
the Executive Directors.
DIRECTORS
1.1 The Board Balance
The control environment set the tone for the
Group and is driven by an effective Board (“the
Board”) consisting of competent individuals with
appropriate specialised skills and knowledge to
ensure capable management of the Group. The
Board is responsible for overseeing the conduct
and performance of the Group’s businesses
and oversees the Group’s internal controls. The
composition of Independent and Non-Independent
Directors is carefully considered to ensure that the
Board is well balanced.
The Board comprises nine (9) members, of whom
six (6) are Executive Directors and three (3) are
Independent Non-Executive Directors. It is a
balanced Board and comprises professionals
from various backgrounds and with the relevant
experience and expertise that would add value to
the Group. The mix of experience is vital for the
strategic success of the Group.
,Q GLVFKDUJLQJ LWV éGXFLDU\ GXWLHV WKH %RDUG
is assisted by the following three (3) Board
&RPPLWWHHV HDFK HQWUXVWHG ZLWK VSHFLéF WDVNV
All the three (3) Committees do not have executive
powers but report to the Board on all matters
considered and their recommendations thereon.
The Terms of Reference of each Committee have
been approved by the Board in compliance with the
recommendation of the Code :
a)
b)
c)
Audit Committee;
Nomination Committee; and
Remuneration Committee.
2012
ANNUAL REPORT
Statement On Corporate Governance
33
1.2 Board Meetings
34
The Board of Directors of the Company subscribes
to the Code. The Board has the overall responsibility
for Corporate Governance, strategic direction,
formulation of policies and overseeing the
investment and performance of the Company. The
%RDUG PHW éYH WLPHV GXULQJ WKH éQDQFLDO \HDU
ended 31 July 2012 and details of attendance are as
below:
Total
number of
Meetings
held
Meetings
attended
by
Director
5
5
5
5
2
4
5
1
2
2
2
1
5
5
5
5
5
4
Executive Directors
Dato’ Choon Yee Seiong
(Executive Chairman &
Group Managing Director)
Mr Cheong Teck Chong
Madam Choon Nee Siew
Mr Chang Kwong Him
(appointed 15 March 2012)
Mr Siow Der Ming
Mr Choon Yee Bin
Independent
Non-Executive Directors
Dr Choong Tuck Yew
1.3 Supply of Information
All Directors are provided with an agenda and
Board papers containing information relevant to
the business of the Board Meetings. This is issued
LQVXIéFLHQWWLPHWRHQDEOHWKH'LUHFWRUVWRREWDLQ
further explanation where necessary, in order to
be properly briefed before the meeting. Minutes of
the Board Committees are also tabled at the Board
Meetings for information and deliberation.
The Audit Committee of the Board ensures
compliance with disclosure requirements and
accounting and audit policies overseeing all issues
SHUWDLQLQJWRéQDQFLDODQGRSHUDWLRQDOULVNV
All the Directors have direct access to the advice and
services of Senior Management and the Company
Secretary in carrying out their duties. The Directors
may obtain independent professional advice in
furtherance of their duties, with the consent of the
Board.
1.4 Directors’ Training
Directors are encouraged to attend continuous
education programmes and seminars to keep
abreast of relevant changes in laws and regulations
and the development in the industry.
During the year, the external training programmes
and seminars attended by the Directors are as
follows:
Mr Siow Der Ming
à )HEUXDU\ Û3DNLVWDQ0DOD\VLD
Business And Investment Forum,” organized
by Malaysian Institute of Accountants (MIA) at
Renaissance Hotel, KL.
à 0D\ Ö -XQH 7UDGH GHOHJDWLRQ
with Federation of Goldsmiths and Jewellers
Associations Malaysia (FGJAM) to JCK, Las
Vegas, USA.
à -XO\ Û*ROG ,QGXVWU\ )RUXPÜ
organized by Malaysia International Jewellery
Fair at KLCC, KL.
à Ö$XJXVW7UDGHGHOHJDWHPHPEHURI
“Lawatan Kerja Timbalan Menteri Kewangan
Ke-Hong Kong.”
à Ö $XJXVW 7UDGH GHOHJDWLRQ WR
India International Jewellery Show (IIJS) 2012
organised with FGJAM in Mumbai, India.
à Ö 6HSWHPEHU Û6HPLQDU 2Q 0RQH\
Laundering,” organized by Attorney General’s
Chamber in Putrajaya, KL.
à Ö6HSWHPEHUÛ$VHDQ*HPV$QG
Jewellery Presidents’ Summit,” in Bangkok,
Thailand.
à 6HSWHPEHUÖÛ+RQJ.RQJ-HZHOOHU\
And Gems Fair,” in Hong Kong.
Dr Choong Tuck Yew
à Ö -XO\ ÛQG &(2 &RQIHUHQFHÜ
organized by OSK Investment Bank Berhad.
à Ö -XO\ Ö ,QVWLWXWH 2I ,QWHUQDO
Auditors International Conference, ” hosted by
IAA Malaysia.
à Ö -XO\ Û%RDUG 5LVN 0DQDJHPHQW
Committee Programme,” conducted by Financial
Institutions Directors’ Education Programme
(FIDE).
à
à
à
à
à
à
à
à
à
à
à
2FWREHUÛWK$QQXDO&RQIHUHQFH
Of The World Association Of Detectives,” in Hong
Kong.
2FWREHUÛ,7*RYHUQDQFH$QG5LVN
Management Programme,” conducted by FIDE.
-DQXDU\ Ö ÛQG &(2 &RQIHUHQFHÜ
organized by OSK Investment Bank Berhad.
0DUFKÖÛ7KH&DVH)RU'LYHUVLW\,Q7KH
Boardroom,” round table panel talk organised by
CSR Asia and Bursa Malaysia.
Ö$SULOÖÛ7RDVWPDVWHUV,QWHUQDWLRQDO
District 51 Annual Convention,” held in Sunway
Pyramid Convention Centre, Bandar Sunway,
Selangor.
Ö 0D\ Ö Û0LG7HUP %RDUG 0HHWLQJ 2I
The World Association Of Detectives,” in Cannes,
France.
-XQHÖÛ2VWHRDUWKULWLVÖ&DXVH7UHDWPHQW
And Prevention,” organized by Damansara Jaya
Senior Citizens Association.
-XO\ Ö Û1DWLRQDO (QWUHSUHQHXUV
Convention,” held in Grand Dorsett Subang Hotel,
Subang Jaya, Selangor.
Ö6HSWHPEHUÛ,QWHUQDWLRQDO,QYHVWLJDWLRQ
And Security Professionals Symposium,” jointly
organized by World Association of Detectives
and National Council of International Security
Services.
1RYHPEHUÖÛ6XFFHVVIXO(QWU\7R7DLZDQ
Capital Market,” organized by Cheng & Company.
1RYHPEHU Ö 0,$ ,QWHUQDWLRQDO
Accountants Conference organized by Malaysian
Institute of Accountants.
à 7-10 September 2011 – “The 2nd International
Greentech & Eco Products Exhibition &
Conference Malaysia,” at Kuala Lumpur
Convention Centre (KLCC), organised by
Malaysian Green Technology Corporation.
à 1 December 2011 – Securities CommissionBursa Malaysia Corporate Governance Week –
“Independent Directors Are A Myth,” An Oxford
Union CG Style Debate.
à 1 December 2011 – 25th Sultan Azlan Shah
Lecture – “Would It Have Made Any Difference
– Cause and Effect In Commercial Law.”
à 2 December 2011 – Securities CommissionBursa Malaysia Corporate Governance Week –
“Risk Management And Internal Controls – Are
The Boards Aware What They Are Up Against?”
à 10 December 2011 – “MIDF Investment
Seminar 2011,” organised by The Malaysian
Industrial Development Finance Berhad.
à
à
à
à
à
à
à
14 March 2012 – “The Case For Diversity In The
Boardroom,” round table panel talk organised
by CSR Asia and Bursa Malaysia.
5 April 2012 – “Latest Developments In
Technologies On Biomass Utilisation,” talk
by Prof Dr Ing Volker Thole, organised by
Malaysian Palm Oil Board.
5 April 2012 – “Potential Threat To The Oil
Palm Industry In South East Asia,” talk by
Prof Dr Richard Martin Cooper, organised by
Malaysian Palm Oil Board.
5 April 2012 – “Biomedical Applications Of
Fatty Acid,” talk by Prof Dr Chong-Su Cho,
organised by Malaysian Palm Oil Board.
22 May 2012 – “Role Of The Audit Committee
In Assuring Audit Quality,” talk organised by
Malaysian Institute of Accountants and Bursa
Malaysia.
18 June 2012 – “Corporate Governance
Blueprint And Malaysian Code Of Corporate
Governance 2012,” talk organised by Institute
of Internal Auditors Malaysia and Bursa
Malaysia.
4 July 2012 – “Making The Most of The
&KLHI )LQDQFLDO 2IéFH 5ROH (YHU\RQHÙV
Responsibility?” talk organised by ICAEW and
Bursa Malaysia.
à 22 Aug 2011 - “Assessing The Risks And
Control Environment,” talk conducted by
Bursa Malaysia.
à 22 May 2012 - “Role Of The Audit Committee
In Assuring Audit Quality,” talk organised by
Malaysian Institute of Accountants and Bursa
Malaysia.
The Directors will continue to undergo other
relevant training programmes, conferences and
seminars that may further enhance their skills and
knowledge.
2012
ANNUAL REPORT
35
1.5 Appointments to the Board
The Nomination Committee ensures adequate training and
orientation for new Directors with respect to the business
structure and management of the Group, as well as the
expectation of the Board with regard to their contributions
to the Board and the Group. Regular continuing education
programmes and seminars would be organised for the
Directors to keep them abreast of the latest developments
and advances in Corporate Governance.
In compliance with the Code, a Nomination
Committee was established on 8 March 2004 and is
entrusted with the following responsibilities:
36
a)
b)
Recommend to the Board, candidates for all
GLUHFWRUVKLSVWREHéOOHGE\WKHVKDUHKROGHUVRU
the Board.
Consider in making its recommendations,
candidates for directorship proposed by the
Group Managing Director and, within the
bounds of practicability, by any other senior
executive or any Director or Shareholder.
F
5HFRPPHQG WR WKH %RDUG 'LUHFWRUV WR éOO
seats on Board Committees.
d)
Assist the Board in assessing the responsibility
and commitment undertaken by the Board
membership.
e)
Assess the effectiveness of the Board as a whole.
f)
Assess the effectiveness of the committees of
the Board.
g)
Assess the contributions of each individual
Director.
h)
The Nomination Committee met two (2) times during the
éQDQFLDO\HDUWRGHOLEHUDWHRQWKHDERYHPDWWHUV
Review and recommend to the Board the
required mix of skills and experience and
other qualities the Board requires in order to
IXQFWLRQFRPSOHWHO\DQGHIéFLHQWO\
The Board through the Nomination Committee will
review annually its required mix of skill and experience
and other qualities including core competencies which
Non-Executive Directors should bring to the Board.
The Nomination Committee comprises three (3) NonExecutive Directors, who are Independent Directors. The
members of Nomination Committee are as follows:
Chairman, Independent Non-Executive Director
Dr Choong Tuck Yew
1.6 Re-election of Directors
In accordance with the Articles of Association of the
Company, one-third (1/3) of the Directors are required
by rotation to submit themselves for re-election by
Shareholders at every Annual General Meeting (“AGM”).
All Directors are required to submit themselves for
re-election by the Shareholders at the AGM, at least
once for every three years to comply with the Code.
Dr Choong Tuck Yew who will retire pursuant to
Section 129(2) of the Companies Act, 1965 and being
eligible, has offered himself for re-appointment at
the forthcoming Annual General Meeting.
2.
DIRECTORS’ REMUNERATION
In compliance with the Code, a Remuneration Committee
was established on 8 March 2004 and is entrusted with
the following responsibilities:
a)
Recommend to the Board the remuneration of the
Executive and Non-Executive Directors.
b)
Assist the Board in ensuring the remuneration
RI WKH 'LUHFWRUV UHêHFWV WKH UHVSRQVLELOLW\ DQG
commitment of the Director concerned.
The Remuneration Committee comprises four (4)
Directors, the majority of whom are Independent NonExecutive Directors. The members of the Remuneration
Committee are as follows:
Chairperson, Independent Non-Executive Director
Dr Choong Tuck Yew
Dato’ Choon Yee Seiong
Executive Chairman & Group Managing Director
Shareholders and members of the public can also
obtain information on the annual and quarterly
reports and the announcements made by accessing
Bursa Securities’ and the Company’s website.
Poh Kong is a member of the Malaysian Investor
Relations Association.
The Remuneration Committee met once during the
éQDQFLDO\HDUHQGHG-XO\
The details of the remuneration for Directors of the
&RPSDQ\ GXULQJ WKH éQDQFLDO \HDU HQGHG -XO\ are as follows:
Aggregate
Remuneration
Categorization
Executive Non-Executive
Directors
Directors
(RM’000)
(RM’000)
Fees
Non-Fees
Salaries
Bonuses
%HQHéWVLQNLQG
246
34
6,506
1,074
180
78
Total
8,055
258
The number of Directors of the Company whose total
remuneration falls within the following bands:
Number of Directors
Range of
Remuneration
RM50,001 to RM100,000
RM700,001 to RM750,000
RM750,001 to RM800,000
RM1,050,001 to RM1,100,000
RM1,200,001 to RM1,250,000
RM1,350,001 to RM1,400,000
RM2,900,001 to RM2,950,000
3.
1
1
1
1
1
1
3
-
SHAREHOLDERS
3.1 Investor Relations and Shareholders’ Communication
The Board recognises the importance of timely and
equal dissemination of information to Shareholders
and Stakeholders.
The annual reports and quarterly announcements
are the primary modes of communication
providing the Shareholders with an overview of
the Group’s activities and performance. Enquiries
by Shareholders are dealt with as promptly as
practicable. The Board of Directors encourages full
participation by the Shareholders at every General
Meeting and every opportunity is given to the
6KDUHKROGHUVWRDVNTXHVWLRQVDQGVHHNFODULéFDWLRQ
on the business and performance of the Group.
2012
37
4.
ACCOUNTABILITY AND AUDIT
4.1 Financial Reporting
In reviewing all the published annual and quarterly
éQDQFLDOVWDWHPHQWVGXULQJWKHéQDQFLDO\HDUHQGHG
July 2012, the Directors took due care and reasonable
steps to ensure compliance with the applicable
accounting standards in all material aspects. A
statement by the Directors of their responsibilities for
SUHSDULQJ WKH éQDQFLDO VWDWHPHQWV LV VHW RXW XQGHU
the Statement on Directors’ Responsibility on page 50
of this Annual Report.
4.2 Internal Control
Executive Non-Executive
Directors
Directors
ANNUAL REPORT
The Statement on Internal Control furnished on pages
47-48 of this Annual Report provides an overview of
the state of internal control within the Group.
4.3 Relationship with the Auditors
The Company has established transparent and
appropriate relationships with the Company’s
Auditors through the Audit Committee. The External
Auditors, Messrs GEP Associates has continued to
UHSRUWWRPHPEHUVRIWKH&RPSDQ\RQWKHLUéQGLQJV
which are included as part of the Company’s Annual
Report with respect to each year’s audit on the
Financial Statements.
The amount of non-audit fees paid to the External
$XGLWRUV GXULQJ WKH éQDQFLDO \HDU ZDV
RM26,100 for acting as Reporting Accountant in
relation to Islamic Commercial Papers/Islamic
Medium Term Notes Programme, meeting
DWWHQGDQFH DOORZDQFHV DQG DXGLW FRQéUPDWLRQ WR
landlords.
The role of the Audit Committee in relation to the
External Auditors is set out on pages 43-45 of this
Annual Report.
This statement was made in accordance with a
resolution of the Board dated 22 November 2012.
Corporate Social Responsibility
The Poh Kong Group continues its commitment to the principle of Corporate Social Responsibility (CSR) with various CSR
initiatives undertaken in the workplace, marketplace, community and environment. As a socially responsible company, the
Group is no stranger to corporate charity in giving back to society by way of charitable causes, supporting local arts, culture,
entertainment, education and tourism.
38
In addition to building trust with the communities, acting responsibly towards employees, customers, and protecting the
environment, is in the long term interest and sustainability of the Group and its shareholders.
THE WORKPLACE
Volunteers’ Day : Caring For The Elders
This year, employees again volunteered
their time and effort to visit to an old folk’s
home “Rumah Victory for the Elderly” in
Jalan Klang Lama, KL to coincide with the
worldwide Parents’ Day celebration.
The brigade of employees cheerfully
helped in the house cleaning with mops
and brooms, fed some senior citizens
and made personal donations, besides
Poh Kong’s monetary contributions to the
home to meet the elders’ living expenses.
Festive Celebrations
Various activities, like a Christmas Gift Exchange and Chinese New Year Lucky Draw were organized to foster better ties
and social interaction amongst the employees.
Christmas Gift Exchange during this joyful festival.
Chinese New Year Lucky Draw winners with exclusive
hampers.
Professional Product Training
Two employee sessions on “Coloured Gemstones Grading” conducted by an
overseas professional trainer from the International Gemological Institute
(I.G.I.) were organized for retail sales and service consultants this year.
7KLUW\ IRXU HPSOR\HHV EHQHéWHG IURP WKH FRXUVH ZKLFK FRYHUHG WKH
fundamentals and characteristics of rubies, sapphire, emerald and tourmaline,
WKHPDLQIDFWRUVZKLFKLQêXHQFHGLWVYDOXHVFDUHDQGPDLQWHQDQFHRIWKHVH
coloured gemstones. The course also included practical work and sales of
the gems.
THE MARKETPLACE
Poh Kong has embedded CSR into its business model to meet the expectations of its stakeholders which includes its
shareholders, suppliers and customers. The Group is committed to ethical business practices through a compliance with the
law, honouring business obligations and ensuring integrity in its business dealings.
The majority of Poh Kong’s outlets, speciality brands and retail concept stores are located in shopping malls to provide
customers a conducive environment and enhance their shopping experience by offering the highest premium quality products.
The Group’s professional retail sales consultants have built valued and trusted business partnership with its customers
EDVHGRQSURIHVVLRQDODGYLFHFRXUWHRXVHIéFLHQWVHUYLFHDQGRIIHULQJLQQRYDWLYHVROXWLRQVLQHYHU\DVSHFWRIWKHEXVLQHVV
Initiatives such as customer service programmes which effectively monitor complaints and compliments provide continuous
improvements.
THE COMMUNITY
Poh Kong is committed to good corporate citizenship and in improving opportunities and quality of life of the community it
serves. It makes donations to many charitable bodies and contribute to deserving organisations, and impoverished welfare
homes.
7KH*URXSÙV&65FKDQQHOHGéQDQFLDODLGDQGVXSSRUWHLWKHULQFDVKRUNLQGWRYDULRXVFRPPXQLWLHVVXFKDVROGIRONVFKLOGUHQÙV
homes, stroke rehabilitation centre, societies, associations, education institutions, NGO’s and foundations this year.
Towards Welfare, Health, Children’s Home & Women’s Day
à
'RQDWLRQWRWKH3HQDQJ3URYLQFH:HOOHVOH\6LOYHU-XELOHH)XQG
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'RQDWLRQLQVXSSRUWRI6DX6HQJ/XP66/'LDO\VLV6WURNH5HKDELOLWDWLRQ&HQWUH3HPHJDQJ$PDQDK<D\DVDQ.HEDMLNDQ
SSL Strok dan Pembangunan Masyarakat Berdaftar);
à
'RQDWLRQWR-DGH/HDYHV:HOIDUHDQG&XOWXUDO$VVRFLDWLRQ6HODQJRUDQG.XDOD/XPSXU
à
'RQDWLRQ WR (0& *OREDO 6GQ %KGÙV Û(PSRZHULQJ /DGLHV WRZDUGV 1DWLRQDO 7UDQVIRUPDWLRQÜ LQ FRQMXQFWLRQ ZLWK International Woman’s Day Celebration;
à
'RQDWLRQRIPHGLFDOHTXLSPHQWWR<D\DVDQ/DWLKDQ,QVDQ,VWLPHZDKRPHIRUKDQGLFDSSHGLQ,SRK
à
'RQDWLRQWR+RXVHRI9LFWRU\IRUWKH(OGHUO\2OGIRONV+RPHLQ-DODQ.ODQJ/DPD./
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'RQDWLRQWR<D\DVDQ$QDN$QDN<DWLP6XOWDQDK+DPLQDK
2012
ANNUAL REPORT
39
Towards Arts, Culture, Entertainment/Fashion Show
40
à
'RQDWLRQWR3HUVDWXDQ.HEDMLNDQGDQ.HEXGD\DDQ7HOHJX6HODQJRU.XDOD/XPSXU&XOWXUDO6KRZDW3-&LYLF&HQWUH
à
'RQDWLRQWR9DULD0XVLF3URGXFWLRQ6GQ%KG.XDOD/XPSXU
à
'RQDWLRQWR5./3URGXFWLRQ+RXVH6GQ%KGVSRQVRUVKLSRIÛ7+,77$0ÜWKHPRYLH
à
'RQDWLRQWR2QDP&XOWXUH1LWH
à
'RQDWLRQWR&RQFHUW,QJLQ%HUVXDÖ'-'DYH-RXUQH\WKURXJK6RQJDW,VWDQD%XGD\D.XDOD/XPSXU
à
6SRQVRUVKLSRIQWY*ROGHQ$ZDUGVHQWHUWDLQPHQWLQ3XWUDMD\D,QWHUQDWLRQDO&RQYHQWLRQ&HQWUH
à
6SRQVRUVKLSRI6DUXQJ4XHHQ3DJHDQWDW4XHHQVED\0DOO3HQDQJ
à
6SRQVRUVKLSRI9RJXHIRU9LUWXH&KDULW\)DVKLRQ6KRZDW4XHHQVED\0DOO3HQDQJ
Vogue for Virtue Charity Fashion Show 2012
Model displaying a pair of earrings,
bracelets and ring in diamonds.
Celebrity broadcaster Hansen Lee.
Celebrity Steve Yap
Towards Local & International Tourism
à
6SRQVRUVKLSRI0LVV7RXULVP0DOD\VLDDW*UDQG
Dorsett Subang Hotel, Subang Jaya;
à
6SRQVRUVKLS RI 0LVV 7RXULVP ,QWHUQDWLRQDO 3DJHDQW
Grand Finals/ Miss Poh Kong Glamour 2011/2012 beauty
competition at 1 Utama Shopping Centre, Petaling Jaya;
à
6SRQVRUVKLS RI 0LVV 7RXULVP ,QWHUQDWLRQDO 3DJHDQW
Grand Finale 2011/2012 at Sunway Resort Hotel &
Spa, Bandar Sunway;
Supporting Miss Tourism
International Pageant/ Miss Poh
Kong Glamour.
Performance by an orphanage
at the tourism cum festive
Christmas event.
Promoting Miss Tourism Malaysia
2012.
Malaysian Aileen Gabriella
Robinson (centre) won the Miss
Tourism International Pageant
2011/2012.
All winners …
Ms Carolina Del Carmen Brid
Cerrud from Panama was
crowned Miss Poh Kong Glamour
2011 by Dato’ Eddie Choon, PKHB
Executive Chairman & Group
Managing Director.
ANNUAL REPORT
2012
41
Contestant in the Sarung Queen 2012
decked with Poh Kong jewellery.
Search for the Sarung Queen (Adults) and Sarung Princess (Kids)
winners.
Poh Kong ntv7 Golden Awards 2012.
Ms Cheryl Lee, Best Variety
and Entertainment Host.
Ms Debbie Goh, Most
Popular Actress.
Ms Remon Lim, Best
Actress.
Towards Charity Golf Sponsorship
à
+ROHLQRQH MHZHOOHU\ VSRQVRUVKLS WR WKH 0$/*$ 0DOD\VLDQ /DGLHV *ROI $VVRFLDWLRQ *ROG &XS 0DOD\VLD JROI
tournament worth RM30,000;
à
+ROHLQRQHMHZHOOHU\VSRQVRUVKLSWRWKH0$/*$&KDULW\*ROI&KDPSLRQVKLSZRUWK50
à
+ROHLQRQHMHZHOOHU\VSRQVRUVKLSWRWKH0$/*$3LDOD5DMD3HUPDLVXUL$JRQJ&KDULW\*ROI7RXUQDPHQWZRUWK50
à
'RQDWLRQWR/LRQV&OXERI6XEDQJ-D\DWK$QQXDO&KDULW\*ROI7RXUQDPHQW
Towards Education/ Association/ Club Fund Raising
à
&RQWULEXWLRQWR6HNRODK-HQLV.HEDQJVDDQ2Q3RQJ
à
&RQWULEXWLRQWR6HNRODK-HQLV.HEDQJVDDQ+XDQ/LDQ7DLSLQJ
à
&RQWULEXWLRQWR&DWKROLF+LJK6FKRRO3HWDOLQJ-D\D
à
&RQWULEXWLRQWR./,QWHUQDWLRQDO6FKRRO
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Contribution to UTAR Graduation and Alumni Homecoming dinner;
Towards Community Funds Raising
à
&RQWULEXWLRQ WR 5RWDU\ &OXE RI %DQGDU 8WDPD
installation dinner;
à
&RQWULEXWLRQ WR .LZDQLV .LGQH\ 'LDO\VLV DQG 6WURNH
Foundation;
à
&RQWULEXWLRQWR*UDFH&RYHQDQW&RPPXQLW\&DUH%KG
for “Harmonious Charity Day” event;
42
“Harmonious Charity Day” for Grace Covenant Community Care.
Towards Humanitarian and Charity Causes
à
'RQDWLRQWR0DOD\VLD$(21)RXQGDWLRQÛ:LWK$OO2XU+HDUWVÜSURMHFW
à
'RQDWLRQWR6LQ&KHZ)RXQGDWLRQÛ+DUPRQ\+RPH%XLOGLQJÜIXQG
à
'RQDWLRQWR0DK6LQJ)RXQGDWLRQ
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THE ENVIRONMENT
The Group is mindful of its responsibility towards preserving the environment and conserving resources wisely. It is committed
to protect the environment through its green awareness and eco-friendly activities that reduces the carbon footprint and waste
generated by the organization’s infrastructure.
In its daily operations, environment friendly practices are observed, such as recycling of paper, increased electronic
communication, energy saving bulbs for lighting and equipment are utilized. This include using light-emitting diode (LEDs)
lighting for energy saving, the automatic shutdown of desktop computers while not in use, maintaining air-conditioning at
comfortable, but lower temperatures, switching off non-essential lights and equipment, and the recycling of materials have all
reduced costs savings.
Poh Kong is committed to the proper management of wastage to help minimise the impact on the environment by restricting
the use of hazardous substances, undertaking the safe disposal of waste discharge and the monitoring of pollution levels for
a clean environment.
THE AUDIT COMMITTEE
The Audit Committee comprises three (3) Directors, namely,
a Senior Independent Non-Executive Director and two
Independent Non-Executive Directors. The members of the
Audit Committee are as follows:
Dr Choong Tuck Yew
Chairman, Senior Independent Non-Executive Director
Member of the Malaysian Institute of Accountants
1.
TERMS OF REFERENCE
1.1 Membership
The Audit Committee shall be appointed by the
Board from amongst the Directors and shall consist
of not less than three (3) members, all of whom
shall be Non-Executive Directors, the majority
being independent.
The members of the Audit Committee shall elect a
Chairman from among their members who shall be
an Independent Director. No Alternate Director shall
be appointed as a member of the Audit Committee.
4XDOLêFDWLRQ
At least one (1) member of the Audit Committee:
(a)
(b)
must be a member of the Malaysian Institute
of Accountants or
(b) if he/she is not a member of the Malaysian
Institute of Accountants, he/she must have at
least three (3) years’ working experience and
à
he/she must have passed the examinations
VSHFLéHGLQ3DUW,RIWKH)LUVW6FKHGXOHRI
the Accountants Act, 1967 or
à
he/she must be a member of one (1) of
WKH DVVRFLDWLRQ RI DFFRXQWDQWV VSHFLéHG
in Part II of the First Schedule of the
Accountants Act, 1967 or
à
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prescribed by the Bursa Securities.
1.3 Meeting and Minutes
Meetings shall be held not less than four (4) times
a year. The presence of External and/or Internal
Auditors will be requested, if required, but without
the presence of any Executive Directors. Other
members of the Board and senior management
may attend meetings upon the invitation of the
Audit Committee. Both the Internal and/or External
Auditors may request a meeting if they consider it
to be necessary. The Audit Committee shall meet
with the External Auditors without Executive Board
members present at least twice a year.
The Secretary to the Audit Committee shall be the
Company Secretary. The Chairman of the Audit
Committee shall report on each meeting to the Board.
1.4 Authority
The Audit Committee is authorised by the Board to
investigate any activity within its terms of reference.
It shall have unrestricted access to any information
pertaining to the Group, both the Internal and
External Auditors and to all employees of the
Group. The Committee is also authorised by the
Board to obtain external legal or other independent
professional advice as necessary in the discharge of
its duties.
1.5 Responsibilities and Duties
The Audit Committee undertakes, amongst others,
the following responsibilities and duties:
a)
To discuss with the External Auditors, prior
to the commencement of audit, the audit plan
which states the nature and scope of audit;
E
7R UHYLHZ PDMRU DXGLW éQGLQJV DULVLQJ IURP
WKHLQWHULPDQGéQDOH[WHUQDODXGLWVWKHDXGLW
report and the assistance given by the Group’s
RIéFHUVWRWKHH[WHUQDODXGLWRUV
c)
To review with the External Auditors, their
evaluation of the system of internal controls,
their management letter and management’s
responses;
2012
ANNUAL REPORT
Report Of The Audit Committee
43
d)
To review the following in respect of Internal
Audit:
à
44
à
à
e)
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UHVRXUFHVRIWKHéUPRI,QWHUQDO$XGLWRUV
(that was engaged to undertake the
Internal Audit function) and that it has the
necessary authority to carry out its work;
WKH ,QWHUQDO $XGLW SURJUDPPH DQG
results of the Internal Audit process
and, where necessary, ensure that
appropriate actions are taken on the
recommendations of the Internal Audit
function;
UHYLHZ DQ\ DSSUDLVDO RU DVVHVVPHQW
of the performance of members of the
Internal Audit function;
à
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termination of senior staff members of
the Internal Audit function; and
à
WDNH FRJQLVDQFH RI UHVLJQDWLRQV RI
Internal Audit staff members and
provide the resigning staff member an
opportunity to submit his reasons for
resigning.
To review the quarterly reporting to the Bursa
6HFXULWLHV DQG \HDU HQG DQQXDO éQDQFLDO
statements of the Group before submission to
the Board, focusing on:
à FRPSOLDQFH ZLWK DFFRXQWLQJ VWDQGDUGV
and regulatory requirements;
à DQ\PDMRUFKDQJHVLQDFFRXQWLQJSROLFLHV
à VLJQLéFDQWDQGXQXVXDOLWHPVDQGHYHQWV
f)
To review any related party transaction and
FRQêLFW RI LQWHUHVWV VLWXDWLRQ WKDW PD\ DULVH
within the Group including any transactions,
procedure or course of conduct that raises
questions of management integrity;
To consider the appointment of the
External Auditors, the terms of reference
of its appointment and any question of
resignation and dismissal before making a
recommendation to the Board;
h)
To promptly report to Bursa Securities if
it is of the view that a matter reported by
it to the Board has not been satisfactorily
resolved resulting in a breach of the Listing
Requirements.
2. INTERNAL AUDIT FUNCTION
The Internal Audit function is performed in-house by
the Group Internal Audit Department and is outsourced
to two internal auditors. The Internal Audit function is
independent of the activities audited.
WKH PDMRU éQGLQJV RI ,QWHUQDO $XGLW
investigations
and
management’s
responses, and ensure that appropriate
actions are taken on the recommendations
of the Internal Audit function;
à
g)
The total cost incurred for the Internal Audit function
LQ UHVSHFW RI WKH éQDQFLDO \HDU HQGHG -XO\ amounted to RM616,782. The function is performed with
LPSDUWLDOLW\SURéFLHQF\DQGGXHSURIHVVLRQDOFDUH
The Internal Audit Department reports directly to the
Audit Committee Chairman, and regularly reviews and
appraises the Group’s key operations to ensure that key
risk and control concerns are being effectively managed.
3.
SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE
FOR THE FINANCIAL YEAR
'XULQJWKHéQDQFLDO\HDUWKHDFWLYLWLHVRIWKHFRPPLWWHH
included:
5HYLHZLQJ WKH TXDUWHUO\ éQDQFLDO UHVXOW
announcements of the Group prior to seeking the
Board of Directors’ approval and releasing the
results to the Bursa Securities.
3.2 Reviewing the audit strategy and plan of the
External Auditors.
3.3 Reviewing External Auditors’ reports in relation to
audit and accounting issues arising from the audit,
and updates of new developments on accounting
standards issued by the Malaysian Accounting
Standards Board.
ANNUAL REPORT
2012
5HYLHZLQJWKHDQQXDOéQDQFLDOVWDWHPHQWVRIWKH*URXSDQGWKH&RPSDQ\
5HYLHZLQJWKH,QWHUQDO$XGLWIXQFWLRQVDQGWKHUHFRPPHQGDWLRQVRQWKHLUéQGLQJV
3.6 The Audit Committee reviewed and approved the Internal Audit Plan for the year 2012/2013.
3.7
The Audit Committee met with the External Auditors twice (2) without the presence of the Executive Directors and
the Management.
'XULQJWKHéQDQFLDO\HDUHQGHG-XO\WKH$XGLW&RPPLWWHHPHWVL[WLPHVDQGWKHGHWDLOVRIWKHDWWHQGDQFHDUH
as follows:
Attendance
Dr Choong Tuck Yew
This Report was made in accordance with a resolution of the Board dated 22 November 2012.
6/6
6/6
6/6
45
PREFERENCE
PROFIT
WORTH
RETURN-ON-INVESTMENT
Value
46
1.
2012
ANNUAL REPORT
Statement On Internal Control
INTRODUCTION
The Board of Directors (“Board”) is pleased to comment
on the Statement of Internal Control of the Group for
the year ended 31 July 2012 in line with the Listing
Requirements of Bursa Securities.
47
2.
RESPONSIBILITY
The Board recognises the importance of sound systems
of Internal Control and effective risk management
practices to good corporate governance. The Board
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systems of Internal Control within the Group covering
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issues, and for reviewing regularly the adequacy and
effectiveness of such systems within the Group. Sound
systems of Internal Control will help to safeguard the
Group’s assets and shareholders’ investment.
The Board, in discharging its stewardship responsibilities,
is committed to identify key risks to which Companies
within the Group are exposed and will introduce
appropriate systems to monitor and to manage such
risks.
Notwithstanding that, there are, however, limitations
inherent in any system of Internal Control, and such
system is designed to manage rather than eliminate
the risk that may impede the achievement of business
objectives. It should be appreciated that it could therefore
only provide reasonable and not absolute assurance
against material misstatement. It should be further
noted that the cost of control procedures should not
H[FHHGWKHEHQHéWVWREHGHULYHGIURPVXFKSURFHGXUHV
3.
KEY ELEMENTS OF INTERNAL CONTROL
Some of the key control procedures have been embedded
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assurance mechanism to safeguard the assets of the
Group and to preserve shareholders’ investment. The
following key elements ensure that the proper control
regime is maintained:
3.1 Audit Committee
The Audit Committee reviews the Group’s
accounting and reporting policies and practices,
and the adequacy and effectiveness of the systems
of Internal Control with the External Auditors.
The Audit Committee also ensures that there is
continuous effort by management to address and
resolve areas where control weaknesses exist.
The Audit Committee reviews the quarterly results
of the Group and recommends adoption of such
results to the Board before announcement to
Bursa Securities is made.
3.2 Internal Audit
In line with good corporate governance practices,
the Internal Audit function was formally set up
with the assistance of an External Consultant
towards the end of 2004. The Audit Committee
formally approved the Internal Audit Plan for the
year 2012/2013. The Internal Auditors carried
out independent reviews of systems of Internal
Control in the key activities within the Group. The
scope and coverage of Internal Audit assignments
were prioritised based on criterias, such as its
assessment of risks and control procedures.
Statement On Internal Control
In addition to the Group’s Internal Audit function, the
Group also outsourced some aspects of the Internal
Audit work to external parties to complement
the Internal Audit work and to further enhance
compliance with the Company’s internal policies
and best practices.
48
The Internal Auditors aim to advise management on
areas for improvement and subsequently performed
follow-up reviews to determine the extent to which
the recommendations have been implemented.
The Internal Auditors report directly to the Audit
Committee.
3.3 Risk Management
The Board is committed to identify business
and other risks that are inherent in the sector
in which the Group operates and to ensure the
implementation of appropriate control mechanism
to manage these risks. In assisting it to discharge
its duties and responsibilities, the Board, through
the Audit Committee, senior management and the
Internal Audit function, will carry out periodical
reviews of the adequacy and the integrity of the
Group’s Internal Control systems and Management
Information Systems, including systems for
compliance with applicable laws, regulations, rules,
directives and guidelines.
3.4 Reporting and Review
The Group has in place a management reporting
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generated for management review in a timely
manner. The Executive Chairman & Group
Managing Director meets regularly with the
Executive Directors and Senior Management to
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corporate and business issues.
3.5 Other Risks and Control Processes
In addition to the above, the Group also has in place
the following key elements:
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authority limits and reporting mechanism
to higher levels of management and to the
Board, which supports the maintenance of a
strong control environment.
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to the relevant Board committees, all of which
have formalised terms of reference. These
committees have the authority to examine all
matters within their scope and report to the
Board with their recommendations.
à 5HJXODU YLVLWV WR WKH RSHUDWLQJ XQLWV E\ VRPH
members of the Board and Senior Management.
4. CONCLUSION
There were no material losses, uncertainties or
FRQWLQJHQFLHVUHSRUWHGGXULQJWKHFXUUHQWéQDQFLDO\HDU
as a result of weaknesses in Internal Control that would
require mention in the Annual Report of the Group.
The Board and Management will continue to take
measures to strengthen the Internal Control environment.
This statement was made in accordance with a resolution
of the Board dated 22 November 2012.
IN COMPLIANCE WITH THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
1)
UTILIZATION OF PROCEEDS
No proceeds were raised by the Company.
2)
SHARE BUY-BACK
7KHUHZDVQRVKDUHEX\EDFNRIWKH&RPSDQ\ÙVVKDUHVGXULQJWKHéQDQFLDO\HDU
3)
OPTIONS, WARRANT OR CONVERTIBLE SECURITIES
There were no options, warrant or convertible securities issued to any parties
GXULQJWKHéQDQFLDO\HDU
4)
AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL DEPOSITORY RECEIPT (GDR)
PROGRAMME
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5)
IMPOSITION OF SANCTIONS AND/OR PENALTIES
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Company and its subsidiaries, Directors or management by the relevant regulatory
authorities.
6)
NON-AUDIT FEES
1RQDXGLWIHHVSDLGWR*(3$VVRFLDWHVIRUWKHéQDQFLDO\HDUZDV50IRUDFWLQJ
as Reporting Accountant in relation to Islamic Commercial Papers/Islamic Medium
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landlords.
7)
VARIATION IN RESULTS
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unaudited results previously announced.
8)
PROFIT GUARANTEE
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9)
MATERIAL CONTRACTS
There were no material contracts entered into by the Company and its subsidiaries
involving Directors and/or major shareholders and/or related parties.
10)
RECURRENT RELATED-PARTY TRANSACTIONS
Details of transactions with related parties undertaken by the Group during the
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2012
ANNUAL REPORT
Other Compliance Information
49
Statement On Directors’ Responsibility
7KH0DOD\VLDQ&RPSDQ\/DZUHTXLUHVWKH'LUHFWRUVWRSUHSDUHéQDQFLDOVWDWHPHQWVIRUHDFKéQDQFLDO\HDUZKLFKJLYHVDWUXH
DQGIDLUYLHZRIWKHVWDWHRIDIIDLUVRIWKH&RPSDQ\DQGWKH*URXSDVDWWKHHQGRIWKHéQDQFLDO\HDUDQGRIWKHUHVXOWVRIWKHLU
RSHUDWLRQVFKDQJHVLQHTXLW\DQGRIWKHFDVKêRZVRIWKH&RPSDQ\DQGWKH*URXSIRUWKHSHULRGWKHQHQGHG$VUHTXLUHGE\WKH
&RPSDQLHV$FWÛWKH$FWÜDQGWKH/LVWLQJ5HTXLUHPHQWVRI%XUVD6HFXULWLHVWKHéQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHG
in accordance with the applicable Financial Reporting Standards in Malaysia and the provisions of the Act.
50
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The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at all times the
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the Act. The Directors are also responsible for safeguarding the assets of the Group and the Company and, hence, for taking
reasonable steps in the prevention and detection of fraud and other irregularities.
This Statement was made in accordance with a resolution of the Board dated 22 November 2012.
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1.
A member of the Company entitled to attend and vote at the Meeting may appoint a proxy or proxies (or being a corporate member, a corporate
representative) to attend and vote in his stead. A proxy may but need not be a member of the Company.
2.
Where a member appoints two (2) or more proxies, the appointments shall be invalid unless he specifies the proportion of his shareholdings to
be represented by each proxy.
3.
The instrument appointing a proxy in the case of an individual shall be signed by the appointer or his attorney or in the case of a corporation
executed under its common seal or signed on behalf of the corporation by its attorney or by an officer duly authorised.
4.
The instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed or executed must be deposited
at the Company Secretary’s Office at Strategy Corporate Secretariat Sdn Bhd, Unit 07-02, Level 7, Persoft Tower, 6B Persiaran Tropicana, 47410
Petaling Jaya, Selangor Darul Ehsan not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof.
5.
Explanatory Note on Ordinary Business
Re-appointment of Director over 70 years of age
The proposed Ordinary Resolution No. 8 under item 6 of the Agenda is in accordance with Section 129(6) of the Companies Act, 1965 which
requires that a separate resolution be passed to re-appoint Dr Choong Tuck Yew who is over 70 years of age as Director of the Company and
to hold office until the conclusion of the next Annual General Meeting of the Company. This resolution must be passed by a majority of not less
than three-fourth of such Members of the Company as being entitled to vote in person or where proxies are allowed, by proxy at the Annual
General Meeting of the Company.
6.
Explanatory Notes on Special Business
(a)
Authority to Directors to Allot and Issue Shares pursuant to Section 132D of the Companies Act, 1965
The proposed Ordinary Resolution No. 10 under item 8 of the Agenda, if passed will give the Directors of the Company from the date of the
above Meeting, authority to allot and issue ordinary shares for the unissued capital of the Company for such purposes as the Directors
consider would be in the interest of the Company. This authority will, unless revoked or varied by the Company in General Meeting, expire
at the next Annual General Meeting.
The general mandate sought to grant authority to Directors to allot and issue shares is a renewal of the mandate that was approved
by the shareholders at the Ninth Annual General Meeting held on 10 January 2012. The renewal of the general mandate is to provide
flexibility to the Company to issue new shares without the need to convene a separate general meeting to obtain shareholders’ approval
so as to avoid incurring additional cost and time. The purpose of this general mandate is for possible fund raising exercises including
but not limited to further placement of shares for purpose of funding current and/or future investment projects, working capital and/or
acquisitions.
Up to the date of this Notice, the Company did not issue any shares pursuant to the mandate granted to the Directors at the Ninth Annual
General Meeting because there was no need for any fund raising activity for the purpose of investment, acquisition or working capital.
(b)
Proposed Amendments to the Company’s Articles of Association
The proposed Special Resolution under item 8.2 is to amend the Company’s Articles of Association to be in line with the recent
amendments to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. The details of the Proposed Amendments
are as set out in Appendix II on pages 142 - 144 of this Annual Report.
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dŽƌĞͲĞůĞĐƚĂƚŽ͛ŚŽŽŶzĞĞ^ĞŝŽŶŐƌĞƟƌŝŶŐƵŶĚĞƌƌƟĐůĞϴϬŽĨƚŚĞƌƟĐůĞƐŽĨƐƐŽĐŝĂƟŽŶ͘
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dŽƌĞͲĞůĞĐƚDƌ͘^ŝŽǁĞƌDŝŶŐƌĞƟƌŝŶŐƵŶĚĞƌƌƟĐůĞϴϱŽĨƚŚĞƌƟĐůĞƐŽĨƐƐŽĐŝĂƟŽŶ͘
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ŽŵƉĂŶŝĞƐĐƚ͕ϭϵϲϱ͘
ϵ͘
dŽĂƉƉŽŝŶƚDĞƐƐƌƐĂŬĞƌdŝůůǇDŽŶƚĞŝƌŽ,ĞŶŐĂƐƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶǇĨŽƌƚŚĞĞŶƐƵŝŶŐǇĞĂƌ
ĂŶĚƚŽĂƵƚŚŽƌŝƐĞƚŚĞŝƌĞĐƚŽƌƐƚŽĮǆƚŚĞŝƌƌĞŵƵŶĞƌĂƟŽŶ͘
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ŐĂŝŶƐƚ
dŽƌĞͲĞůĞĐƚDƌ͘ŚŽŽŶzĞĞŝŶƌĞƟƌŝŶŐƵŶĚĞƌƌƟĐůĞϴϱŽĨƚŚĞƌƟĐůĞƐŽĨƐƐŽĐŝĂƟŽŶ͘
dŽĂƵƚŚŽƌŝǌĞƚŚĞŝƌĞĐƚŽƌƐƚŽŝƐƐƵĞƐŚĂƌĞƐƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϭϯϮŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϭϵϲϱ͘
^ƉĞĐŝĂůZĞƐŽůƵƟŽŶ
dŽĂƉƉƌŽǀĞƚŚĞƉƌŽƉŽƐĞĚŵĞŶĚŵĞŶƚƐƚŽƚŚĞŽŵƉĂŶǇΖƐƌƟĐůĞƐŽĨƐƐŽĐŝĂƟŽŶ͘
΀WůĞĂƐĞŝŶĚŝĐĂƚĞǁŝƚŚ;yͿŝŶƚŚĞƐƉĂĐĞƐƉƌŽǀŝĚĞĚŚŽǁǇŽƵǁŝƐŚǇŽƵƌǀŽƚĞƚŽďĞĐĂƐƚ͘/ĨŶŽƐƉĞĐŝĮĐĚŝƌĞĐƟŽŶĂƐƚŽǀŽƟŶŐŝƐŐŝǀĞŶ͕ƚŚĞWƌŽǆǇ
ǁŝůůǀŽƚĞŽƌĂďƐƚĂŝŶĂƚŚŝƐ;ŚĞƌͿĚŝƐĐƌĞƟŽŶ΁
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ŵĂǇ ĂƉƉŽŝŶƚ Ă ƉƌŽǆǇ Žƌ ƉƌŽǆŝĞƐ ;Žƌ ďĞŝŶŐ Ă ĐŽƌƉŽƌĂƚĞ ŵĞŵďĞƌ͕ Ă
ĐŽƌƉŽƌĂƚĞƌĞƉƌĞƐĞŶƚĂƟǀĞͿƚŽĂƩĞŶĚĂŶĚǀŽƚĞŝŶŚŝƐƐƚĞĂĚ͘ƉƌŽǆǇŵĂǇ
ďƵƚŶĞĞĚŶŽƚďĞĂŵĞŵďĞƌŽĨƚŚĞŽŵƉĂŶǇ͘
tŚĞƌĞĂŵĞŵďĞƌĂƉƉŽŝŶƚƐƚǁŽ;ϮͿŽƌŵŽƌĞƉƌŽǆŝĞƐ͕ƚŚĞĂƉƉŽŝŶƚŵĞŶƚƐ
ƐŚĂůůďĞŝŶǀĂůŝĚƵŶůĞƐƐŚĞƐƉĞĐŝĮĞƐƚŚĞƉƌŽƉŽƌƟŽŶŽĨŚŝƐƐŚĂƌĞŚŽůĚŝŶŐƐ
ƚŽďĞƌĞƉƌĞƐĞŶƚĞĚďǇĞĂĐŚƉƌŽǆǇ͘
EƵŵďĞƌŽĨƐŚĂƌĞƐŚĞůĚ͗
͘
͘
dŚĞŝŶƐƚƌƵŵĞŶƚĂƉƉŽŝŶƟŶŐĂƉƌŽǆǇŝŶƚŚĞĐĂƐĞŽĨĂŶŝŶĚŝǀŝĚƵĂůƐŚĂůůďĞ
ƐŝŐŶĞĚďǇƚŚĞĂƉƉŽŝŶƚĞƌŽƌŚŝƐĂƩŽƌŶĞǇŽƌŝŶƚŚĞĐĂƐĞŽĨĂĐŽƌƉŽƌĂƟŽŶ
ĞǆĞĐƵƚĞĚƵŶĚĞƌŝƚƐĐŽŵŵŽŶƐĞĂůŽƌƐŝŐŶĞĚŽŶďĞŚĂůĨŽĨƚŚĞĐŽƌƉŽƌĂͲ
ƟŽŶďǇŝƚƐĂƩŽƌŶĞǇŽƌďǇĂŶŽĸĐĞƌĚƵůǇĂƵƚŚŽƌŝƐĞĚ͘
dŚĞŝŶƐƚƌƵŵĞŶƚĂƉƉŽŝŶƟŶŐĂƉƌŽǆǇĂŶĚƚŚĞƉŽǁĞƌŽĨĂƩŽƌŶĞǇŽƌŽƚŚĞƌ
ĂƵƚŚŽƌŝƚǇ ;ŝĨ ĂŶǇͿ ƵŶĚĞƌ ǁŚŝĐŚ ŝƚ ŝƐ ƐŝŐŶĞĚ Žƌ ĞǆĞĐƵƚĞĚ ŵƵƐƚ ďĞ
ĚĞƉŽƐŝƚĞĚ Ăƚ ƚŚĞ ŽŵƉĂŶǇ ^ĞĐƌĞƚĂƌǇ͛Ɛ KĸĐĞ Ăƚ ^ƚƌĂƚĞŐǇ ŽƌƉŽƌĂƚĞ
^ĞĐƌĞƚĂƌŝĂƚ^ĚŶŚĚ͕hŶŝƚϬϳͲϬϮ͕>ĞǀĞůϳ͕WĞƌƐŽŌdŽǁĞƌ͕ϲWĞƌƐŝĂƌĂŶ
dƌŽƉŝĐĂŶĂ͕ϰϳϰϭϬWĞƚĂůŝŶŐ:ĂǇĂ͕^ĞůĂŶŐŽƌĂƌƵůŚƐĂŶŶŽƚůĞƐƐƚŚĂŶϰϴ
ŚŽƵƌƐ ďĞĨŽƌĞ ƚŚĞ ƟŵĞ ĂƉƉŽŝŶƚĞĚ ĨŽƌ ŚŽůĚŝŶŐ ƚŚĞ ŵĞĞƟŶŐ Žƌ ĂŶǇ
ĂĚũŽƵƌŶŵĞŶƚƚŚĞƌĞŽĨ͘
&ŽůĚ,ĞƌĞ
^ƚĂŵƉ
dŚĞŽŵƉĂŶǇ^ĞĐƌĞƚĂƌǇ
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ϲWĞƌƐŝĂƌĂŶdƌŽƉŝĐĂŶĂ
ϰϳϰϭϬWĞƚĂůŝŶŐ:ĂǇĂ͕^ĞůĂŶŐŽƌĂƌƵůŚƐĂŶ
&ŽůĚ,ĞƌĞ

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