Rising to Meet the Challenge

Transcription

Rising to Meet the Challenge
Bangkit Menyahut Cabaran
Laporan Tahunan 2007 Annual Report
Rasional Kulit Cover Rationale
Kegunaan pohon kurma dikatakan sama banyaknya dengan
bilangan hari dalam setahun.
It is said that the date palm has as many uses as there are
days in a year.
Pohon kurma, yang sering dikaitkan dengan khasiat dan
ketulenan, mempunyai akar yang terbenam kukuh di dalam
tanah. Pohon ini mampu hidup dalam iklim gurun yang panas
dan kering, dan dahannya yang tumbuh melangit memberikan
hasil dan pulangan yang berlanjutan. Buah Kurma yang manis
dan lazat memainkan peranan yang amat penting semasa
umat Islam berbuka puasa pada bulan Ramadan yang mulia.
Seperti yang telah dimanfaatkan oleh Nabi Muhammad
S.A.W., buah Kurma memberikan khasiat pemakanan dan
daya tahan anggota tubuh.
The date palm, often associated with wholesomeness and
purity, has its roots firmly embedded and entrenched. Able
to grow in the harsh desert climate, its branches reaches
skywards bringing about perpetual yields and returns. The
fruit of the date palm, the sweet and succulent Date, plays a
significant role in the breaking of fast during the holy month
of Ramadhan. As it did for Prophet Muhammad (pbuh), the
Date provided nutrition and sustenance.
Begitu juga BHB, syarikat pemegangan pelaburan bagi
beberapa institusi pelopor kewangan Islam di Malaysia dan
di Asia Tenggara, mempunyai sejarah yang telah berakar
umbi dalam dunia kewangan Malaysia. BHB telah menempuh
pelbagai cabaran pada tahun-tahun kebelakangan ini, namun
setelah memberikan nafas baru kepada warga kerjanya, dan
merangka rancangan strategik yang lebih bertenaga, BHB
akan mengembangkan perniagaannya untuk memberikan
nilai dan pulangan kepada pemegang-pemegang saham.
Kulit laporan tahunan kali ini merakamkan kualiti, kekuatan
dan simbol sejagat yang dilambangkan oleh pohon kurma,
seterusnya menggunakan imej Kurma sebagai simbol
ketahanan dan semangat yang tidak mudah luntur. Susunan
buah kurma yang menyerupai matahari terbit melambangkan
masa hadapan yang optimistik buat BHB yang memacu ke
hadapan untuk menyahut cabaran yang akan datang.
Similarly BHB, an investment holding company of several
pioneer Islamic financial institutions in Malaysia and
Southeast Asia, has its history firmly entrenched in the
Malaysian financial sphere. BHB has weathered challenges
in recent years, but with a revitalised team and invigorated
strategic plans, BHB will grow its businesses to bring about
shareholder value and returns.
This year’s cover captures the universal quality, power and
symbolism of the date palm and uses the imagery of the Date
as a symbol of sustainability and resilience. The deliberate
arrangement of the dates in the form of a rising sun signifies
an optimistic future as BHB propels itself forward to meet the
challenges ahead.
Profil Korporat Corporate Profile
BIMB Holdings Berhad (BHB) merupakan sebuah syarikat
pemegangan pelaburan yang beroperasi berlandaskan
prinsip Islam. Reputasi BHB yang berdasarkan amalan
perniagaan yang beretika menarik pelabur dan pelanggan
untuk berurusan dengannya. BHB diperbadankan di
Malaysia pada 20 Mac 1997 dan disenaraikan di Papan
Utama Bursa Saham Kuala Lumpur (kini Bursa Malaysia)
pada 16 September tahun yang sama. Modal dibenarkan
bagi BHB ialah RM2 bilion sementara modal berbayarnya
pula ialah RM891,389,896.
BIMB Holdings Berhad (BHB) is an investment holding
company which operates along Islamic principles. It holds
broad appeal for investors and customers because of its
reputation for ethical practices. BHB was incorporated
in Malaysia on 20 March 1997, and was listed on the
Main Board of the Kuala Lumpur Stock Exchange (now
Bursa Malaysia) on 16 September in the same year. The
authorised capital of BHB is RM2 billion while its paid-up
capital is RM891,389,896.
Anak-anak syarikat teras Kumpulan BHB merupakan
peneraju dalam pelbagai aktiviti perkhidmatan kewangan
Islam termasuk perbankan, takaful, broker saham dan
perkhidmatan berkaitan yang lain.
The core subsidiaries of the BHB Group are leaders in
various Islamic financial service activities including
banking, takaful, stockbroking, and other related
services.
Kandungan Contents
29 Profil Pengarah
Directors’ Profile
73 Penyata Kewangan
Financial Statements
14
39 Ketua-ketua Pegawai Eksekutif
dalam Kumpulan
CEOs in the Group
147 Harta Tanah Milik Kumpulan BHB
Properties Owned by BHB Group
Paparan Kewangan
5 Tahun Kumpulan
5-Year Financial Highlights
of the Group
16 Kalendar Kewangan
Financial Calendar
40 Majlis Pengawasan Syariah
Shariah Supervisory Council
16 Harga Saham di Bursa Malaysia
Share Prices on Bursa Malaysia
42 Penyata Tadbir Urus Korporat
Statement of Corporate
Governance
17 Struktur Korporat Kumpulan
Group Corporate Structure
58 Penyata Kawalan Dalaman
Statement on Internal Control
18 Sorotan Operasi Kumpulan
Group Operational Highlights
60 Maklumat Pematuhan Tambahan
Additional Compliance
Information
22 Tanggungjawab Sosial Korporat
Corporate Social Responsibility
28 Maklumat Korporat
Corporate Information
68 Sorotan 2007
2007 Highlights
157 Statistik Pemegangan Saham
Shareholdings Statistics
160 Rangkaian Kumpulan Serantau
Regional Group Network
162 Notis Mesyuarat Agung
Tahunan Kesepuluh
Notice of the Tenth Annual
General Meeting
168 Penyata Mengiringi Notis
Mesyuarat Agung Tahunan
Statement Accompanying Notice
of Annual General Meeting
Borang Proksi
Proxy Form
BIMB Holdings Berhad | Laporan Tahunan 2007 Annual Report
02 Perutusan Pengerusi
Chairman’s Statement
“ Saya, bagi pihak Lembaga Pengarah BIMB
Holdings Berhad (BHB atau Kumpulan),
dengan
sukacitanya
mengemukakan
Laporan Tahunan dan Penyata Kewangan
syarikat bagi tahun kewangan yang
berakhir pada 30 Jun 2007.
On behalf of the Board of Directors of
BIMB Holdings Berhad (BHB or the Group),
I am pleased to present the Annual Report
and Financial Statements for the financial
year ended 30 June 2007. ”
Tan Sri Samsudin bin Osman
Pengerusi | Chairman
Perutusan Pengerusi
Pemegang Saham yang dikasihi,
Dear Shareholders,
Meskipun tahun kewangan yang berakhir pada 30 Jun 2007
(TK2007) merupakan tempoh konsolidasi, namun Kumpulan
terus mempamerkan pertumbuhan. BHB mencatat pemulihan
yang ketara dalam pertumbuhan hasil dan keuntungan. Pada
tempoh yang sama, BHB meneruskan pelaksanaan program
transformasinya seperti mempertingkatkan kecekapan
Lembaga, memperkukuh keupayaan pengarah, menyemai
budaya yang didorong oleh prestasi dan pelaksanaan rangka
kerja pengurusan risikonya. Ini merupakan tambahan kepada
usaha memperkukuh kedudukan kewangan anak-anak syarikat
perbankan Islam dan Takaful dari segi rekayasa semula (reengineering) perniagaan dan penstrukturan semula syarikat.
The financial year ended 30 June 2007 (FY2007) was a
period of consolidation and yet continued growth for the
Group. BHB recorded a major turnaround in both revenue
and profit growth. During the same period, BHB continued
to implement its transformation programs such as enhancing
Board effectiveness, strengthening directors’ capabilities,
inculcating performance-driven culture and implementing its
risk management framework. This is in addition to the efforts
to strengthen the financial position of its Islamic banking and
Takaful subsidiaries in the form of business re-engineering and
corporate restructuring.
Sesungguhnya, Kumpulan berada pada kedudukan yang
baik untuk mengambil kesempatan atas pelbagai insentif dan
pelepasan cukai yang ditawarkan untuk menjadikan Malaysia
hab kewangan Islam global. Ini dapat dilakukan menerusi
pelbagai anak syarikatnya.
Pusat Kewangan Islam Antarabangsa Malaysia (MIFC) yang
dilancarkan Kerajaan pada bulan Ogos 2006 telah mengorak
langkah demi pembangunan industri perkhidmatan kewangan
Islam (IFSI) yang komprehensif. MIFC diberikan insentif untuk
menjadi pusat pengasalan, pengagihan dan perdagangan
pasaran modal Islam serta instrumen perbendaharaan, dan
menjadi pusat bagi dana Islam dan perkhidmatan pengurusan
kekayaan. Di samping itu MIFC juga menjadi pusat bagi
perkhidmatan kewangan mata wang antarabangsa Islam
termasuk deposit dan pembiayaan; sebagai pusat bagi Takaful
dan Takaful Semula; dan juga pusat bagi pendidikan, latihan,
pakar runding dan penyelidikan kewangan Islam.
Moving forward, with Malaysia aggressively strengthening its
leadership position in Islamic finance, the Group hopes to be at
the forefront to capitalise on the country’s initiatives. Thus, the
challenge for us at the Group level is to become a global leader
in particular as the point of reference or source of guidance
among customers, other banks and supervisory authorities.
Indeed, the Group, through its various subsidiaries, is well
positioned to take advantage of the many incentives and tax
breaks that Malaysia offers in order to develop the country into
a global Islamic financial hub.
The Malaysian International Islamic Financial Centre (MIFC),
launched in August 2006 by the Government, has paved the
way for the development of a comprehensive Islamic financial
services industry (IFSI), with incentives given in order to become
the centre for origination, distribution and trading of Islamic
capital market and treasury instruments; for Islamic fund
and wealth management services; for international currency
Islamic financial services including deposits and financing; for
Takaful and re-Takaful as well as for Islamic finance education,
training, consultancy and research.
Efforts to promote the IFSI in Malaysia were further enhanced
in the Budget 2007 where any Islamic banks or Takaful
operators which conduct foreign currency business, as well
as local and foreign fund managers who manage Islamic funds
for foreign portfolio investors were granted a 10-year full tax
exemption. In addition, there is a 20% stamp duty exemption
on instruments related to Islamic financing.
Melangkah ke hadapan, Kumpulan berhasrat untuk berada di
barisan hadapan dalam kewangan Islam dengan mengambil
kesempatan atas inisiatif Malaysia yang gigih berusaha
memperkukuh kedudukannya sebagai peneraju kewangan
Islam. Dengan demikian, cabaran kita di peringkat Kumpulan
adalah untuk menjadi pemimpin global terutamanya sebagai
titik rujukan atau sumber bimbingan dalam kalangan pelanggan,
bank-bank lain dan pihak berkuasa pengawalseliaan.
Perutusan Pengerusi
Di Malaysia, usaha untuk menggalakkan IFSI terus
dipertingkatkan dalam Bajet 2007 dengan pemberian
pengecualian cukai sepenuhnya selama 10 tahun kepada manamana bank Islam atau pengendali Takaful yang mengendalikan
perniagaan mata wang asing, dan juga pengurus dana
tempatan dan asing yang mengurus dana Islam bagi pelabur
portfolio asing. Selain itu, tambahan pengecualian duti setem
sebanyak 20% atas instrumen berkaitan dengan pembiayaan
Islam juga diberikan.
Berlatarbelakangkan ini, kami yakin dengan pertumbuhan
masa depan Kumpulan pada tahun-tahun yang mendatang.
Prestasi Kewangan
Prestasi Kumpulan kembali pulih pada TK2007 dengan
mencatat keuntungan sebelum zakat dan cukai (USZC)
sebanyak RM928.87 juta, termasuk keuntungan luar biasa
sebanyak RM631.50 juta, selepas mencatat kerugian sebelum
zakat dan cukai (RSZC) sebanyak RM1.18 bilion setahun yang
lalu. Keuntungan luar biasa ini timbul daripada pencairan
pemegangan saham Kumpulan dalam Bank Islam Malaysia
Berhad (Bank Islam atau Bank). Peningkatan ini terhasil
daripada strategi yang diambil oleh Kumpulan, terutamanya
pemulihan dalam prestasi kewangan Bank Islam.
Sorotan Operasi
Perbankan
Bagi TK2007, Bank Islam dan anak-anak syarikatnya kembali
mencatat keuntungan dengan USZC tertinggi sebanyak
RM255.50 juta di peringkat bank (berbanding dengan kerugian
sebanyak RM1.28 bilion pada tahun kewangan sebelumnya)
dan RM230.80 juta di peringkat yang disatukan. Ini merupakan
jumlah tertinggi yang diperoleh semenjak penubuhannya.
Bank Islam juga mencatat peningkatan jumlah pendapatan
sebanyak 9% daripada pelaburan dana pendeposit dan
pemegang saham, iaitu daripada RM948.90 juta pada TK2006
kepada RM1.03 bilion pada TK2007. Pada tempoh yang sama,
jumlah aset Bank Islam meningkat 30.9% daripada RM14.60
bilion pada TK2006 kepada RM19.09 bilion pada TK2007.
Penyempurnaan usaha permodalan semula pada 16 Oktober
2006 telah mengubah dengan ketara struktur pemegangan
saham di Bank Islam. Pascasuntikan modal baru oleh DIG dan
LTH berjumlah RM1.01 bilion mengakibatkan BHB memegang
hanya 51% saham dalam Bank Islam, sementara DIG dan LTH
telah muncul sebagai pemegang saham lain dengan pegangan
masing-masing sebanyak 40% dan 9%.
Prestasi yang memberangsangkan ini mungkin disebabkan
oleh pelaksanaan yang agresif lima komponen Pelan Pemulihan
yang diperkenalkan pada bulan September 2006, iaitu:
Kemasukan dua (2) pelabur strategik, iaitu Dubai Investment
Group (DIG) dan Lembaga Tabung Haji (LTH) ke dalam Bank
Islam pada bulan Oktober 2006 merupakan faktor yang
paling ketara. Ini berikutan suntikan modal tambahan baru
sebanyak RM1.14 bilion ke dalam Bank Islam. Hubungan
strategik dengan kedua-dua pihak ini merupakan pendorong
kepada pemulihan Bank Islam, yang menyumbang kepada
peningkatan yang ketara dalam struktur modal Bank Islam dan
seterusnya kepada kedudukan kewangan Kumpulan.
•
•
Dengan suntikan modal baru ini, kepentingan Kumpulan
dalam Bank Islam mengecil daripada 100% kepada 51%,
Kumpulan masih mencatat keuntungan sebanyak RM631.50
juta. Ini mencakup 68% daripada USZC Kumpulan sebanyak
RM928.87 juta. Selain daripada Bank Islam yang menyumbang
28% atau kira-kira RM255.50 juta kepada USZC Kumpulan,
2% lagi datangnya daripada Syarikat Takaful Malaysia Berhad
(STMB), 1% daripada BIMB Securities Sdn Bhd (BIMBSEC)
dan 2% daripada perniagaan pemajakan Kumpulan.
Sebagai sebahagian daripada Program Transformasinya,
Bank Islam mempamerkan imej korporatnya yang baru pada
21 Ogos 2007. Selain harus memberi respons atas cabaran
industri perbankan Islam yang pesat berkembang di dalam dan
di luar negara, usaha penjenamaan semula ini juga bertujuan
mengubah cara berfikir dan budaya kerja kakitangan. Skop
usaha penjenamaan semula Bank Islam melangkaui perubahan
fizikal, kerana penjenamaan semula merangkumi penyediaan
perkhidmatan nilai ditambah kepada pelanggannya.
•
•
•
Penstrukturan Semula Permodalan dan Kunci Kira-Kira
Pembaharuan Infrastruktur Teknologi Maklumat (IT)
Program Transformasi, iaitu Penyusunan Semula
Lembaga, Penjenamaan Semula Korporat, Perasionalan
dan Pemodelan Semula Cawangan
Usaha Perasionalan Kos
Pembangunan Modal Insan
Against this backdrop, we are optimistic about the future
growth of the Group in the years ahead.
Financial performance
The Group returned to the black in FY2007 with a PBZT of
RM928.87 million, inclusive of an exceptional gain of RM631.50
million, against a loss before zakat and taxation (LBZT) of
RM1.18 billion a year ago. The exceptional gain arose from
the the dilution of the Group’s shareholding in Bank Islam
Malaysia Berhad (Bank Islam or the Bank). The improvement
was the result of strategies adopted by the Group, especially
the turnaround in Bank Islam’s financial performance.
As a result of the fresh capital injection, the Group’s interest
in Bank Islam was diluted to 51% from 100%, of which a gain
of RM631.50 million was recognized at the Group level, which
accounted for 68% of the Group’s PBZT of RM928.87 million.
While Bank Islam contributed 28% or about RM255.50 million
to the Group’s PBZT, 2% came from Syarikat Takaful Malaysia
Berhad (STMB), 1% from BIMB Securities Sdn Bhd (BIMBSEC)
and 2% from the Group’s leasing business.
This remarkable performance can be attributed to the
aggressive implementation of the five components of the
Turnaround Plan, introduced in September 2006, namely:
•
•
•
•
•
Recapitalisation and Balance Sheet Restructuring
Information Technology (IT) Infrastructure Revamp
Transformation Program i.e. Board Reorganisation,
Corporate Re-branding, Branch Rationalisation and
Remodeling
Cost Rationalisation Exercise
Human Capital Development
As part of the Transformation Program, Bank Islam unveiled
its new corporate image on 21 August 2007. Apart from
responding to the increasing challenges of a fast expanding
Islamic banking industry domestically and abroad, the rebranding exercise also aims to change the mindset and working
culture of the staff. The scope of Bank Islam’s re-branding
exercise goes beyond the physical change, as it encompasses
providing value-added services to its customers.
The Bank has also invested heavily in technology in order
to support its service efficiency and delivery system while
enhancing its products and services. This involves changes
in the core banking and branch delivery systems, which are
aimed at reducing the turnaround time and enabling hasslefree transactions.
Operational Highlights
Banking
For FY2007, Bank Islam and its subsidiaries returned to
profitability with a record profit before zakat and taxation (PBZT)
of RM255.50 million at the bank level (against a loss of RM1.28
billion in the previous financial year) and RM230.80 million at
the consolidated level in the FY2007, the highest since its
inception. Bank Islam also registered a 9% increase in total
income from investments of depositors’ and shareholders’
funds to RM1.03 billion from RM948.90 million in FY2006.
During the same period, total assets of Bank Islam increased
by 30.9% to RM19.09 billion from RM14.60 billion.
Apart from technology, the investment in human capital has
been instrumental in increasing productivity and developing
a pool of talents (between June-October 2007, Bank Islam’s
staff were sent to a total of more than 130 training programs
locally and abroad).
Bank Islam has also embarked on strategic partnerships such
as with European Islamic Investment Bank (EIIB), primarily for
product development and innovation as well as to expand
market reach by capitalizing on each others’ strengths. This
is in line with Bank Islam’s target to diversify its sources of
income in particular through fee-based products and services,
mainly in treasury and capital market-related activities.
The most significant was the introduction of two (2) strategic
investors namely Dubai Investment Group (DIG) and Lembaga
Tabung Haji (LTH) to Bank Islam in October 2006, with
injection of fresh additional capital of RM1.14 billion in Bank
Islam. This strategic tie-up with both parties was instrumental
in turning around Bank Islam, contributing to the considerable
improvement in Bank Islam’s capital structure and hence, the
Group’s financial standing.
The completion of the recapitalisation exercise on 16 October
2006 has significantly changed the shareholding structure
at Bank Islam. Post-injection of fresh capital amounting to
RM1.01 billion by DIG and LTH, BHB now holds only a 51%
stake in Bank Islam as DIG and LTH emerged as the other
shareholders with a 40% and 9% stake respectively.
Perutusan Pengerusi
Bank juga telah membuat pelaburan yang besar dalam
teknologi bagi meningkatkan kecekapan perkhidmatan dan
sistem penghantaran, selain menambah baik perkhidmatan
dan produk. Ini melibatkan perubahan dalam sistem perbankan
teras dan sistem penghantaran cawangan yang bertujuan
mengurangkan masa pusing balik dan membolehkan urus
niaga dijalankan tanpa gangguan.
Selain daripada teknologi, pelaburan dalam modal insan menjadi
pendorong kepada peningkatan produktiviti dan pembangunan
sekumpulan bakat (antara Jun-Oktober 2007, lebih daripada
130 program latihan telah dihadiri oleh kakitangan Bank Islam
sama ada di dalam atau di luar negara).
Bank Islam juga telah memulakan perkongsian strategik
dengan European Islamic Investment Bank (EIIB), khusus
untuk pembangunan produk dan inovasi, dan juga untuk
meningkatkan jangkauan pasaran dengan memanfaatkan
kekuatan masing-masing. Ini selaras dengan sasaran Bank
Islam untuk mempelbagaikan sumber pendapatan, khususnya
melalui perkhidmatan dan produk berasaskan fi, terutamanya
dalam aktiviti yang berkaitan dengan perbendaharaan dan
pasaran modal.
Melangkah ke hadapan, Bank Islam harus menempuh cabaran
yang berkaitan dengan persekitaran operasi yang benarbenar bersaing untuk menghasilkan momentum pertumbuhan
keuntungan kukuh yang mampan. Ini dapat menarik dan
mengekalkan bakat, di samping memastikan khidmat
pelanggan yang memuaskan, dan seterusnya membawa Bank
Islam ke tahap yang lebih tinggi.
Takaful dan Takaful Semula
Sepanjang TK2007, cabang Takaful kami, yang sahamnya
sebanyak 67.9% dipegang oleh Kumpulan, telah mengharungi
proses transformasi dari segi sistem, kakitangan dan
operasi; dengan tumpuan pada penyusunan semula ahli
Lembaga Pengarah dan merombak pengurusannya. Lebih
khusus lagi, STMB cuba membentuk pasukan pengurusan
pertengahan dalam pelbagai bidang seperti operasi, teknologi
maklumat, kewangan dan aktuari bagi mendapatkan semula
kedudukannya dalam pasaran Takaful tempatan.
STMB juga telah mengambil langkah-langkah yang konstruktif
dalam menangani isu kritikal yang berkaitan dengan IT bagi
memperkukuh operasinya. Bagi tujuan ini, STMB telah melabur
dalam satu sistem baru untuk meningkatkan kecekapan
operasi perniagaannya dan memudahkan pelaksanaan rangka
kerja modal berdasarkan risiko.
Bagi mengatasi kelemahan operasi yang terdahulu, ahli
Lembaga Pengarah, pengurusan dan kakitangan STMB
menjalankan usaha bersepadu untuk menyelesaikan isu
kritikal lain yang berkaitan dengan perkara-perkara yang
masih tertangguh.
Selaras dengan komitmen untuk meningkatkan kemahiran
dan pengetahuan teknikal kakitangannya, STMB telah
memperuntukkan lebih RM1 juta untuk tujuan latihan.
Pencarian bagi mendapatkan bakat-bakat baru terus menjadi
salah satu objektif pembangunan modal insan STMB yang
utama. Ini bertujuan untuk menaikkan taraf inovasi produk dan
meningkatkan keupayaan perkhidmatannya.
Moving forward, Bank Islam has to deal with challenges
associated with the highly competitive operating environment
such as to deliver a sustainable momentum of strong profit
growth, to attract and retain talents and to ensure good
customer service in order to take Bank Islam to a higher level.
In line with its commitment to upgrade the skills and technical
knowledge of its staff, STMB has allocated over RM1 million
for training purposes. Securing new talents has remained
one of its major human capital development objectives in
order to step up product innovation and enhance its service
capabilities.
Takaful and Retakaful
During the FY2007, our Takaful arm, in which the Group holds
a 67.9% stake, went through a transformation process in terms
of systems, people and operations, focusing on reorganizing
its Board membership and the revamp of its management. In
particular, STMB sought to build up its middle management
team in various areas such as operations, information
technology, finance and actuary in order to regain its pole
position in the domestic Takaful market.
STMB has also taken constructive steps in addressing the
critical IT-related issue in order to strengthen its operations.
For this purpose, STMB invested in a new system to enhance
the efficiency of its business operations and to facilitate the
implementation of its risk-based capital framework.
Moving forward, STMB is set to diversify its stable of products
with the introduction of a hybrid Mudharabah-Wakalah
concept. For the next two years, STMB hopes to strengthen
the contribution from the Malaysian market especially the
retail business by optimising its existing 122 branches and
by tapping opportunities from the Group’s synergies through
cross-selling activities such as bancaTakaful. STMB is also
considering business tie-ups with major foreign insurers.
To overcome the legacy operational weaknesses, members of
the Board, the management and staff of STMB took concerted
efforts to resolve another critical issue related to un-reconciled
items.
STMB recorded a growth in its balance sheet size with a 10%
increase in total assets to RM3.481 billion from RM3.165
billion in the preceding year. At the company level, total
assets improved by 10.3% while its subsidiary PT Syarikat
Takaful Indonesia recorded 28% growth in total assets and a
net profit of RM2.4 million. Asean Retakaful International (L)
Ltd, another subsidiary of STMB, recorded a lower net profit
of RM5.8 million, compared to RM6.9 million in the previous
year. Total equity of STMB as a whole increased by 6% to
RM335.3 million as at 30 June 2007 from RM315.6 million
the previous year.
Perutusan Pengerusi
STMB mencatatkan pertumbuhan dalam saiz kunci kirakiranya dengan peningkatan sebanyak 10% dalam jumlah
aset kepada RM3.481 bilion dari RM3.165 bilion pada tahun
sebelumnya. Di peringkat syarikat, jumlah asset meningkat
sebanyak 10.3% manakala bagi PT Syarikat Takaful Indonesia,
sebuah subsidiari syarikat mencatatkan pertumbuhan aset
sebanyak 28% dan keuntungan bersih berjumlah RM2.4 juta.
Asean Retakaful International (L) Ltd, sebuah lagi subsidiari
STMB, mencatatkan keuntungan bersih yang lebih rendah
berjumlah RM5.8 juta berbanding RM6.9 juta pada tahun
sebelumnya. Jumlah keseluruhan ekuiti STMB meningkat
sebanyak 6% kepada RM335.3 juta setakat 30 Jun 2007 dari
RM315.6 juta pada tahun sebelumnya.
Melangkah ke hadapan, STMB kini bersedia untuk
mempelbagaikan kumpulan produknya dengan pengenalan
konsep gabungan Mudharabah-Wakalah. Untuk dua tahun
yang akan datang, STMB berhasrat memperkukuh sumbangan
daripada pasaran Malaysia terutamanya perniagaan secara
runcit dengan mengoptimumkan keupayaan 122 cawangan
yang sedia ada dan mencari peluang daripada sinergi
Kumpulan melalui aktiviti jualan silang seperti bancaTakaful.
STMB juga sedang mempertimbangkan kerjasama perniagaan
dengan penanggung insurans asing yang utama.
STMB mendapat penghormatan dengan menjadi pengendali
Takaful pertama dianugerahkan “Penarafan Kualiti Syariah AA”
oleh Bahrain-based Islamic International Rating Agency (IIRA)
pada bulan Mei 2007. Penarafan ini memberikan pengiktirafan
ke atas semua usaha STMB yang akan membantu
meningkatkan kredibilitinya sebagai peneraju pengendali
perkhidmatan insurans yang patuh Syariah.
Unit Operasi Lain
Kumpulan BIMBSEC mencatat USZC sebanyak RM5.46
juta pada TK2007, menunjukkan peningkatan sebanyak
56% berbanding dengan USZC sebanyak RM3.51 juta pada
tahun kewangan sebelumnya. Peningkatan ini disebabkan
terutamanya oleh masuk kira semula elaun yang lebih tinggi
bagi penyusutan nilai pelaburan.
Pada perspektif persekitaran operasi yang sihat, kemasukan
broker saham asing dan pengoperasian bank pelaburan terus
meningkatkan persaingan di kalangan syarikat perniagaan
broker saham yang sedia ada.
Meskipun terdapat persekitaran yang kompetitif, cabang
broker saham kami yakin dengan pengukuhan perniagaan
runcit dan institusi. Pengembangan pasukan urus niaga dan
usaha pemasaran yang agresif di kalangan pelanggan runcit
dan institusi akan membantu meningkatkan bahagian pasaran
BIMBSEC dari segi jumlah dan nilai urus niaga.
Bagi TK2007, Syarikat Al-Ijarah Sdn Bhd mencatat USZC
sebanyak RM17.91 juta. Sementara itu, anak syarikat modal
teroka kami iaitu, BIMB Venture Capital Sdn Bhd mencatat
USZC yang kecil. Walaupun sumbangan kedua-dua syarikat
STMB earned a feather in its cap by becoming the first Takaful
operator to be conferred the “AA Syariah Quality Rating” by
the Bahrain-based Islamic International Rating Agency (IIRA)
in May 2007. This rating marks the recognition of all STMB’s
efforts, which should help enhance its credibility as a leading
operator of Shari’ah compliant insurance services.
Other Operating Units
The BIMBSEC Group recorded a PBZT of RM5.46 million for
FY2007, reflecting an increase of 56% as compared to the
PBZT of RM3.51 million in the previous financial year. This
increase was mainly due to the higher write back of allowance
for diminution in value of investments.
Operating environment-wise, the entry of foreign stockbrokers
and the operationalisation of investment banks have further
intensified competition amongst existing players in the
stockbroking business.
Notwithstanding the competitive environment, our stockbroking
arm is optimistic about strengthening its retail and institutional
businesses. The continued expansion of the dealing team and
aggressive marketing efforts among both retail and institutional
clients should help increase the market share of BIMBSEC in
terms of trading volumes and values.
For the FY2007, Syarikat Al-Ijarah Sdn Bhd chalked up a PBZT
of RM17.91 million while our venture capital subsidiary, BIMB
Venture Capital Sdn Bhd posted a marginal PBZT. Although
both are not yet significant contributors, the Board is of the view
that these two units have considerable potential to grow given
the Government’s new emphasis to accelerate development
of non-banking segments of the IFSI in particular Islamic fund
management, Islamic stockbroking and Takaful.
Perutusan Pengerusi
10
ini masih kecil, Lembaga Pengarah berpendapat bahawa
kedua-dua unit ini mempunyai potensi yang besar untuk
berkembang, memandangkan tumpuan baru Kerajaan untuk
mempercepat pembangunan segmen IFSI bukan bank,
khususnya pengurusan dana Islam, broker saham Islam dan
Takaful.
Dividen
Kumpulan amat menghargai sokongan dan kesetiaan yang
ditunjukkan oleh pemegang saham kita. Bagi menghargai
mereka, Lembaga Pengarah mencadangkan dividen yang
pertama dan akhir sebanyak 2% ditolak cukai 26%. Ini
melibatkan keseluruhan pembayaran sebanyak RM13.19 juta.
Prospek dan Perancangan Masa Depan
Ekonomi Malaysia dijangka mencatat pertumbuhan yang
memberangsangkan pada tahun 2007, iaitu dalam lingkungan
6% untuk tahun ketiga berturut-turut. Permintaan domestik akan
terus menjadi pemacu pertumbuhan yang utama, khususnya
berikutan kepesatan projek dan pelaburan swasta di bawah
Rancangan Malaysia Kesembilan (RMK-9), perbelanjaan isi
rumah yang mantap dan sokongan daripada sektor awam.
Permintaan domestik yang pesat sedikit sebanyak membantu
mengurangkan kesan kelembapan eksport. Ini disebabkan
terutamanya oleh kemerosotan ekonomi Amerika Syarikat (AS)
dan kelembapan permintaan global terhadap produk elektronik
dan elektrik. Walau bagaimanapun, sistem kewangan Malaysia
yang semakin kukuh, mudah tunai yang tinggi dan hutang
luar negeri yang secara relatifnya rendah akan membantu
meningkatkan daya tahan Malaysia dalam menghadapi kesan
kontagion daripada kesan sampingan subprima AS. Meskipun
Bank Negara Malaysia dijangka mengekalkan kadar dasar
semalamannya pada 3.5% sepanjang tahun 2007, perubahan
kadar itu pada masa depan cenderung untuk meningkat kerana
tekanan inflasi yang bertambah berpunca daripada kenaikan
harga komoditi dan makanan global.
Berlatarbelakangkan
ini,
sektor
kewangan
secara
keseluruhannya dan IFSI secara khususnya akan mendapat
manfaat daripada jangkaan peningkatan dalam aktiviti
ekonomi. Insentif yang ditawarkan dan bidang khusus yang
dikenal pasti di bawah MIFC akan melengkapi insentif yang
sedia ada dan usaha yang diambil untuk menjadikan Malaysia
sebagai pusat kewangan Islam antarabangsa.
Natijahnya, Bank Islam yang semakin kukuh berikutan
kejayaannya
melaksanakan
Pelan
Pemulihan
yang
diperkenalkan pada awal TK2007, telah mengatur pelbagai
strategi perniagaan dan operasi untuk terus memantapkan
kedudukannya bagi mengekalkan pertumbuhan yang mampan
pada tahun-tahun yang mendatang. Dengan beroperasi
dalam rejim pemantauan risiko yang teliti dan kawalan kredit
yang lebih ketat, portfolio aset Bank Islam beransur-ansur
meningkat. Pada masa yang sama, Bank Islam berpegang
teguh pada keperluan yang ketat bagi memperoleh aset
pembiayaan yang berkualiti.
Dividends
The Group is deeply appreciative of the support and loyalty
shown to us by our shareholders. In acknowledgement of
this, the Board of Directors is recommending a first and
final dividend of 2% less 26% taxation. This involves a total
payment of RM13.19 million.
Prospects and Future Plans
Against this backdrop, the financial sector as a whole and the
IFSI in particular stand to benefit from the expected increase
in economic activities. Incentives offered and focus areas
identified under the MIFC should complement the existing
incentives and efforts undertaken to develop Malaysia into an
international centre for Islamic finance.
Consequently, Bank Islam, being on a firmer footing
following the successful implementation of its Turnaround
Plan introduced in the earlier part of the FY2007, has lined
up a range of business and operational strategies to further
strengthen its position for a sustainable growth in years to
come. Operating on a regime of closer risk monitoring and
tighter credit controls, Bank Islam is gradually improving its
assets portfolio while at the same time adhering to stringent
requirements in securing quality financing assets.
11
For the third year in a row, the Malaysian economy is
anticipated to register a healthy growth in the vicinity of 6%
in 2007. Domestic demand will continue to serve as the main
growth driver in particular on the back of the acceleration of
projects and private investments under the Ninth Malaysian
Plan (9MP), robust household spending and supportive public
sector. Vigorous domestic demand should help cushion to a
certain extent, sluggish exports due largely to a US slowdown
and subdued global demand for electronics and electrical
products. Nonetheless, Malaysia’s stronger financial system,
high liquidity and relatively low external debt should help
enhance its resilience in the face of the contagion effects from
the US sub-prime fallout. Although BNM is expected to keep
its overnight policy rate at 3.5% throughout 2007, the next
rate move could be up in view of the increasing inflationary
pressures stemming from the rising global commodity and
food prices.
Perutusan Pengerusi
12
Pendekatan STMB yang berorientasikan pelanggan dan
pasaran juga sejajar dengan penerimaan dan permintaan yang
meningkat terhadap produk kewangan Islam dalam segmen
Takaful yang berkembang pesat. Etika, perkongsian untung,
instrumen kewangan Islam yang bersifat selamat dan berisiko
rendah, menawarkan peluang yang luas kepada STMB yang
merupakan perintis pasaran Takaful Malaysia untuk bersiap
sedia melebarkan sayapnya ke luar negara.
STMB’s customer-and-market-oriented approach is also
aligned seamlessly with the increasing acceptance of and
demand for Islamic financial products in the rapidly expanding
Takaful segment. Owing also to the ethical, profit sharing,
safe and low-risk nature of Islamic financial instruments,
there is tremendous opportunity for STMB, a pioneer in the
Malaysian Takaful market, to set its sights on expanding
beyond Malaysian shores.
Kumpulan begitu yakin bahawa Bank Islam dan STMB mampu
memanfaatkan namanya yang tersohor dan pelanggan
setianya yang ramai.
The Group strongly believes that both Bank Islam and STMB
can capitalize on the premium that their brand carries and their
wide base of loyal customers.
Sekalung Penghargaan
Word of Thanks
Bagi pihak Lembaga, saya ingin mengambil kesempatan ini
untuk merakamkan ucapan terima kasih kepada pemegangpemegang saham kita. Izinkan saya meluahkan setinggi-tinggi
penghargaan dan melahirkan rasa terhutang budi dengan
kesabaran, timbang rasa dan sokongan anda yang tidak
berbelah bagi pada tahun-tahun kewangan yang lalu. Saya
juga ingin berterima kasih kepada pengawal selia khususnya
Bank Negara Malaysia, Suruhanjaya Sekuriti dan Bursa
Malaysia Securities Berhad atas bimbingan dan sokongan
mereka yang berterusan.
On behalf of the Board, I would like to take this opportunity
to thank our shareholders. Allow me to express my deepest
appreciation and gratitude for your patience, understanding
and undivided support in the past financial year. I would also
like to thank the regulators in particular Bank Negara Malaysia,
Securities Commission and Bursa Malaysia Securities Berhad
for their continuing guidance and support.
Saya juga patut berterima kasih kepada ahli Lembaga,
pengurusan dan kakitangan di semua peringkat, atas
kesetiaan, dedikasi dan komitmen mereka kepada Kumpulan,
dan kepada pelanggan serta rakan perniagaan atas kesetiaan
dan sokongan padu mereka.
Penghargaan dan ucapan terima kasih yang tidak terhingga
juga ditujukan kepada ahli Majlis Penasihat Syariah atas
bimbingan dan nasihat mereka yang sangat bernilai.
Saya juga ingin merakamkan ucapan terima kasih khususnya
kepada YBhg Dato’ Noorazman bin A. Aziz atas sumbangan
beliau semasa berada dalam pucuk pimpinan Kumpulan,
walaupun hanya seketika. Dalam kesempatan ini, saya
mendoakan agar beliau sentiasa sukses dalam apa jua bidang
yang beliau ceburi pada tahun-tahun yang mendatang.
Akhir sekali, semakin kita menuju ke arah merealisasikan
matlamat dan aspirasi kita, keyakinan kita semakin menebal
betapa usaha yang dilakukan sekarang ini akan membuahkan
hasil yang diharapkan pada tahun kewangan yang akan
datang. Kita harus terus fokus dan komited untuk membawa
Kumpulan ke puncak yang lebih tinggi, Insya-Allah.
I must also thank fellow members of the Board, management
and staff at all levels for their loyalty, dedication and commitment
to the Group, and to our customers and business associates
for their loyalty and strong support.
My deepest appreciation and gratitude to the Shari’ah
Supervisory Council members for their valuable guidance and
advice.
I would like to put on record our special thanks to YBhg Dato’
Noorazman bin A. Aziz for his contribution during his short
stint at the helm of the Group. On this note, I wish him well in
his future endeavours.
Last but not least, as we move towards realising our goals and
aspirations, we are optimistic that our current efforts will yield
positive results in the coming financial year. We must remain
focused and committed to take the Group to greater heights,
Insya-Allah.
TAN SRI SAMSUDIN OSMAN
Pertumbuhan Mampan
Sustainable Growth
13
Paparan Kewangan 5 Tahun Kumpulan
5-Year Financial Highlights of the Group
30 Jun | 30 June
2003
RM’000
2004
RM’000
2005
RM’000
2006
RM’000
2007
RM’000
Modal Saham
Share Capital
562,965
562,965
562,965
562,965
891,390
1,533,014
1,581,922
1,086,537
(145,890)
1,013,681
12,422,128
11,809,842
13,238,227
14,148,593
17,388,633
Dana Takaful
Takaful Funds
1,577,795
1,941,564
2,172,424
2,445,551
2,611,779
Pembiayaan Pelanggan
Financing of Customers
7,868,682
8,778,174
9,096,791
8,601,387
8,433,287
Pelaburan Investments
5,412,571
4,872,749
4,742,913
2,622,481
4,002,831
Jumlah Aset
Total Assets
17,096,600
16,891,527
18,507,972
17,742,000
22,627,226
Perolehan
Revenue
808,506
866,639
1,087,432
1,115,953
1,882,985
(Kerugian)/Keuntungan Sebelum Zakat dan Cukai
(Loss)/Profit before Zakat and Taxation
155,521
118,476
(400,489)
(1,177,939)
928,866
(Kerugian)/Keuntungan Bersih
Net (Loss)/Profit
92,187
85,748
(456,851)
(1,230,008)
799,322
Dividen tolak Cukai
Dividend less Taxation
34,453
34,453
10,133
–
13,192
63.34
74.32
68.72
60.79
48.50
Pembiayaan Tak Berbayar Bersih (%)
Net Non-Performing Financing (%)
9.55
10.30
12.53
9.35
11.18
(Kerugian)/Perolehan sesaham (sen)
(Loss)/Earnings per share (sen)
16.38
15.23
(81.15)
(218.49)
99.29
Aset Ketara Bersih sesaham (RM)
Net Tangible Assets per share (RM)
2.72
2.81
1.93
(0.26)
1.14
Dividen Kasar sesaham (%)
Gross Dividend per share (%)
8.50
8.50
2.50
–
2.00
Dividen Bersih sesaham (%)
Net Dividend per share (%)
6.12
6.12
1.80
–
1.48
Dana Pemegang Saham
Shareholders’ Fund
Deposit daripada Pelanggan
Deposits from Customers
14
Nisbah Pembiayaan kepada Deposit (%)
Financing to Deposit Ratio (%)
12.0
17.39
14.15
13.24
9.0
07
06
05
3.0
04
6.0
03
07 1.01
06
15.0
22.63
07
17.74
06
18.51
928.87
07
Aset Ketara Bersih sesaham (RM)
Net Tangible Assets per share (RM)
1.14
06
05
1.0
07
2.81
04
1.93
2.72
2.0
(0.26)
(218.49)
RM | RM
3.0
03
07
06
05
4.0
(81.15)
04 15.23
60
03 16.38
Sen | Sen
80
20
(400.49)
99.29
100
06
200
(1,177.94)
400
05
600
(Kerugian)/Pendapatan sesaham (sen)
(Loss)/Earnings per share (sen)
40
05
16.90
800
04 118.48
07
06
05
0.5
04
1.0
1000
03 155.52
2.61
2.45
2.17
1.5
RM juta | RM Million
2.0
1.58
2.5
1.94
3.0
03
RM Bilion | RM Billion
(Kerugian)/Keuntungan Sebelum Zakat dan Cukai
(Loss)/Profit before Zakat and Taxation
15
Dana Takaful
Takaful Funds
04
07
06
05
04
2.0
03
4.0
03
6.0
21.0
18.0
15.0
12.0
9.0
6.0
3.0
17.10
8.60
8.43
8.0
9.10
10.0
8.78
Jumlah Aset
Total Assets
7.87
Pembiayaan Pelanggan
Financing of Customers
(0.15)
04
1.0
03
1.2
05
1.09
1.4
18.0
11.80
1.6
1.53
1.8
12.42
Deposit daripada Pelanggan
Deposits from Customers
1.58
Dana Pemegang Saham
Shareholders’ Fund
Paparan Kewangan 5 Tahun Kumpulan
5-Year Financial Highlights of the Group
Kalendar Kewangan
Financial Calendar
23 | 12 | 2006
02 | 06 | 2007
Suku pertama berakhir 30 September 2006
First quarter ended 30 September 2006
Suku ketiga berakhir 31 Mac 2007
Third quarter ended 31 March 2007
13 | 03 | 2007
31 | 10 | 2007
Suku kedua berakhir 31 Disember 2006
Second quarter ended 31 December 2006
Suku keempat berakhir 30 Jun 2007
Fourth quarter ended 30 June 2007
Harga saham di bursa malaysia | Share prices on bursa malaysia
2.0
16
1.93
1.9
1.88
1.8
1.7
1.6
1.73
1.76
1.72
1.72
1.72
1.62
1.5
1.49
1.4
1.3
1.29
1.34
1.2
1.1
1.08
1.0
1.08
1.01
2005
2006
2003
2004
1.08
2007
Pada 31 Oktober 2007 | As at 31 October 2007
Tertinggi (RM) | Highest (RM) 1.93
Terendah (RM) | Lowest (RM) 1.08
Penutup (RM) | Closing (RM) 1.49
Struktur Korporat Kumpulan pada 30 Jun 2007
Group Corporate Structure as at 30 June 2007
Perbankan
Banking
Pengurusan Harta
Property Management
51%
100%
Bank Islam Malaysia Berhad
Syarikat Al-Ijarah Sdn Bhd
100% Al-Wakalah Nominees (Tempatan) Sdn Bhd
100% BIMB Unit Trust Management Berhad
100% BIMB Foreign Currency Clearing
Agency Sdn Bhd
Pegangan Pelaburan – Modal Teroka
Investment Holdings – Venture Capital
100%
BIMB Venture Capital Sdn Bhd
100%
BIMB Musyarakah Satu Sdn Bhd
100% BIMB Trust Ltd
100% BIMB Offshore Company
Management Services Sdn Bhd
Lain-lain
Others
Takaful
Takaful
51%
Pembiayaan Perumahan Nasional Sdn Bhd
(Dorman | Dormant)
67.93% Syarikat Takaful Malaysia Berhad
48%
Islamic Banking & Finance Institute
Malaysia Sdn Bhd *
63.09% ASEAN Retakaful International (L) Ltd
56.00% P.T. Syarikat Takaful Indonesia
Pembrokeran Stok & Saham
Stock & Share Broking
100%
BIMB Securities (Holdings) Sdn Bhd
51% BIMB Securities Sdn Bhd
100% BIMSEC Nominees (Asing) Sdn Bhd
100% BIMSEC Nominees (Tempatan) Sdn Bhd
100% BIMSEC Asset Management Sdn Bhd
* Syarikat Bersekutu / Associate Company
100% Bank Islam (L) Ltd (Dorman | Dormant)
17
Sorotan Operasi Kumpulan
18
Tinjauan Keseluruhan Kumpulan
Sepanjang tahun kewangan dalam tempoh antara separuh
kedua 2006 dengan separuh pertama 2007, ekonomi
Malaysia meningkat 5.7%. Ini disokong oleh permintaan
domestik yang berdaya tahan dan prestasi pertumbuhan yang
memberangsangkan di Asia termasuk Jepun dan Eropah.
Pelaksanaan segera projek-projek di bawah RMK-9 dan
peningkatan ketibaan pelancong yang ketara bersempena
Tahun Melawat Malaysia 2007 telah membantu memperteguh
permintaan domestik.
Kumpulan yang mencatat RSZC sebanyak RM1.18 bilion
setahun yang lalu berjaya pulih dengan mencatat USZC
sebanyak RM928.87 juta pada TK2007. Ini berpunca daripada
pelaksanaan beberapa strategi pemulihan yang penting,
terutamanya penstrukturan semula cabang perbankannya,
iaitu Bank Islam. Sepanjang tempoh yang sama, jumlah aset
Kumpulan meningkat 27.6% daripada RM17.74 bilion pada
TK2006 kepada RM22.63 bilion pada TK2007.
Perbankan
Bagi TK2007, Bank Islam mencatat USZC sebanyak RM255.50
juta disebabkan oleh hasil tertinggi yang diperoleh sebanyak
RM1.03 bilion, selepas mencatat RSZC sebanyak RM1.28
bilion pada tahun sebelum ini. Ini merupakan keuntungan
tertinggi yang pernah dicatat sepanjang kewujudannya sejak
24 tahun yang lalu . Hasilnya, Bank Islam mencapai pulangan
ekuiti (ROE) sebanyak 24.5% dan pulangan aset (ROA)
sebanyak 1.5%. Sementara itu, perolehan sesaham (EPS)
kembali positif pada 17.41 berbanding dengan EPS yang
negatif sebanyak 175.24 sen setahun yang lalu.
Penunjuk prestasi lain bagi Bank Islam juga meningkat.
Jumlah aset melonjak 30.9% daripada RM14.60 bilion
kepada RM19.09 bilion, sementara nisbah modal wajaran
risiko (RWCR) kembali pulih daripada -2.84 setahun yang lalu
kepada 12.69% pada TK2007.
Pemulihan yang ketara ini menandakan kejayaan
pelaksanaan yang agresif lima komponen Pelan Pemulihan
sejak bulan September 2006. Pelan ini meliputi perubahan
untuk menjana perniagaan baru yang strategik dan program
pemulihan pinjaman yang intensif untuk memacu pemulihan
Bank. Cabaran pada tahun-tahun yang mendatang adalah
untuk memastikan perolehan yang mampan dan lebih
kukuh dalam persekitaran persaingan yang semakin sengit.
Usaha penjenamaan semula Bank Islam memuncak dengan
pelancaran imej korporatnya yang baru. Ini akan meletakkan
semula kedudukan Bank Islam sebagai peneraju global dalam
kewangan Islam, dengan memanfaatkan daya saingnya
dan dengan mengambil kelebihan atas peluang yang sedia
ada dan peluang baru berikutan usaha yang pesat untuk
membangunkan Malaysia sebagai pusat kewangan Islam
antarabangsa.
Group Overview
During the financial year under review i.e. between the second
half of 2006 and the first half of 2007, the Malaysian economy
grew by 5.7%, supported by resilient domestic demand and
commendable growth performance in Asia including Japan and
Europe. Faster implementation of projects under the 9MP and
the significant increase in tourist arrivals in conjunction with
the Visit Malaysia Year 2007 have helped reinforce domestic
demand.
The Group reversed the LBZT of RM1.18 billion a year ago to
register a PBZT of RM928.87 million in FY2007 on the back
of the implementation of several key turnaround strategies,
primarily the restructuring of its banking arm, Bank Islam.
During the same period, the Group’s total assets rose 27.6%
to RM22.63 billion from RM17.74 billion in FY2006.
Banking
Bank Islam’s other performance indicators also improved in
tandem. Total assets surged 30.9% to RM19.09 billion from
RM14.60 billion while its risk weighted capital ratio (RWCR)
rose to 12.69% from -2.84% a year ago.
Takaful and Retakaful
STMB is Malaysia’s pioneer Takaful operator, with over 122
branches in Malaysia alone at present. For FY2007, STMB
Group’s net profit stood at RM24.81 million, a 32.0% decline
from RM36.49 million a year ago.
Despite the 10.4% rise in revenue to RM1.07 billion from
RM969.14 million in the preceding financial year, STMB Group’s
PBZT decreased by 40.4% to RM26.38 million for FY2007 at
the consolidated level arising from lower surplus transfer from
the General Fund and increases in total costs. The trend was
similar at the company level as the 11.1% increase in revenue
to RM926.11 million was not sufficient to prevent a 50.7%
drop in STMB’s PBZT to RM17.49 million.
19
For FY2007, Bank Islam recorded the highest profit ever over
its 24 years of existence with a PBZT of RM255.50 million on
account of an all-time high revenue of RM1.03 billion following
a LBZT of RM1.28 billion a year ago. As a result, Bank Islam
delivered a return on equity (ROE) of 24.5% and a return on
asset (ROA) of 1.5% while its earnings per share (EPS) returned
to the positive territory at 17.41 compared to a negative EPS of
175.24 sen a year ago.
The remarkable recovery marks the success of the aggressive
implementation of the five-component Turnaround Plan since
September 2006. The Plan included the execution of strategic
changes to grow new businesses and an intensive loan recovery
programme to drive the Bank’s recovery. The challenge in the
years to come will be to ensure stronger yet sustainable earnings
in an environment of intensifying competition. The re-branding
exercise of Bank Islam, which culminated in the launch of a
new corporate image, will reposition Bank Islam in its quest to
become a global leader, by harnessing its competitive edges
and by taking advantage of existing and new opportunities
arising from the accelerated efforts to develop Malaysia into
an international Islamic financial centre.
Sorotan Operasi Kumpulan
Takaful dan Takaful Semula
20
STMB ialah pengendali Takaful sulung di Malaysia. Di Malaysia
sahaja, STMB sudah mempunyai lebih 120 cawangan. Bagi
TK2007, keuntungan bersih Kumpulan STMB berada pada
RM24.81 juta, iaitu penurunan sebanyak 32.0% daripada
RM36.49 juta setahun yang lalu.
Meskipun hasil meningkat 10.4% daripada RM969.14 juta
pada TK2006 kepada RM1.07 bilion pada TK2007, USZC
Kumpulan STMB merosot 40.4% kepada RM26.38 juta untuk
TK2007 pada tahap yang disatukan berikutan pindahan
lebihan yang lebih rendah daripada Dana Am dan peningkatan
dalam jumlah kos. Trend yang serupa ditunjukkan di peringkat
syarikat memandangkan peningkatan sebanyak 11.1%
dalam hasil kepada RM926.11 juta tidak mencukupi bagi
menghalang kemerosotan USZC sebanyak 50.7% kepada
RM17.49 juta.
Pindahan yang lebih rendah daripada Dana Am disebabkan
oleh tuntutan kena dibayar yang lebih tinggi, peningkatan
peruntukan hutang lapuk dan ragu dan juga kos yang
meningkat. Peningkatan kos disebabkan oleh caj susut nilai
dan hapus kira aset serta fi profesional kena dibayar yang
bertambah bagi melicinkan pelaksanaan sistem IT yang baru.
USZC Kumpulan daripada P.T. Syarikat Takaful Indonesia
(STI), iaitu anak syarikat Takaful Malaysia meningkat empat
kali ganda kepada RM1.65 juta pada TK2007, berbanding
sebanyak RM0.40 juta pada TK2006. USZC Asean Retakaful
International (L) Ltd. (ARIL) sebanyak RM6.45 juta pada
TK2007 turun 11.8% daripada RM7.31 juta setahun yang lalu
disebabkan terutamanya oleh pindahan lebihan yang lebih
rendah daripada Dana Takaful Semula Am.
STMB terus menjadi penyumbang utama kepada segmen
Takaful Malaysia khususnya dan industri insurans amnya.
Di bawah Pelan Induk Sektor Kewangan, segmen Takaful
disasarkan untuk menguasai 20% bahagian pasaran industri
insurans menjelang 2020. Pelaksanaan sistem IT yang baru
dan komprehensif bagi menampung keperluan keseluruhan
produk dan perkhidmatan akan mempercepat pembangunan
dan inovasi produk Takaful yang baru. Di samping itu,
pelaksanaan strategi baru bagi mendapatkan bakat
penting mengikut kepentingan berdasarkan kemahiran dan
kompetensi yang diperlukan, diharap dapat meningkatkan
keseluruhan kecekapan dan produktiviti STMB.
Broker Saham
Perolehan utama BIMB Securities Sdn Bhd (BIMBSEC)
adalah dalam bentuk pendapatan fi pembrokeran daripada
pasaran ekuiti. Kumpulan BIMBSEC mencatat USZC
sebanyak RM5.46 juta bagi TK2007, iaitu peningkatan
sebanyak 56% daripada RM3.51 juta pada TK2006. Di
peringkat syarikat, USZC BIMBSEC sebanyak RM5.03 juta
bagi TK2007 meningkat 37.4% berbanding dengan RM3.66
juta setahun yang lalu disebabkan oleh masuk kira semula
elaun yang lebih tinggi bagi penyusutan nilai pelaburan.
Meskipun landskap operasi semakin mencabar, BIMBSEC
kekal optimistik dan bersemangat untuk memperkukuh
sumbangan daripada perniagaan secara runcit atau
keinstitusian. Cabang pembrokeran terus mengukuhkan
barisan peniaganya dari segi jualan dan penyelidikan
sementara mengatur langkah-langkah untuk memantau
keberkesanan usaha pemasarannya dan menganjurkan
strategi pembangunan perniagaan.
The lower surplus transfer from the General Fund led by
higher claims incurred, increased provisions for bad and
doubtful debts as well as higher costs. The cost increases
were due to higher depreciation charges and asset write-offs
as well as increased professional fees incurred to facilitate the
implementation of in the new IT systems.
Besides, the implementation of the new strategy of mapping
key talents according to the required skills and competencies
is hoped will improve the overall efficiency and productivity of
STMB.
The Group PBZT of P.T. Syarikat Takaful Indonesia (STI), a
subsidiary of Takaful Malaysia quadrupled to RM1.65 million
in the year under review as opposed to RM0.40 million in
FY 2006. The PBZT of Asean Retakaful International (L) Ltd.
(ARIL) to the tune of RM6.45 million in FY2007 fell 11.8% from
RM7.31 million a year ago largely due to the lower surplus
transfer from the General Retakaful Fund.
BIMB Securities Sdn Bhd (BIMBSEC) derives its earnings
mainly in the form of brokerage fee income from the equity
market. The BIMBSEC Group recorded a PBZT of RM5.46
million for FY2007, a 56% increase from RM3.51 million in
the previous financial year. At the company level, BIMBSEC’s
PBZT of RM5.03 million for FY2007 rose 37.4% compared
to RM3.66 million a year ago due to the higher write back
of allowance for diminution in value of investments. Despite
the increasingly challenging operating landscape, BIMBSEC
remains optimistic and looks forward to bolstering contribution
from its retail and institutional businesses. The stockbroking
arm continues to further bolster its dealing team in terms of
sales and research whilst establishing measures to monitor
the effectiveness of its marketing efforts and promote
business development strategies.
21
STMB continues to be a major contributor to the Malaysian
Takaful segment in particular and insurance industry in
general. Under the Financial Sector Master Plan, the Takaful
segment is targeted to control 20% of the market share of the
insurance industry by 2010. The implementation of a new and
comprehensive IT system which caters to the needs of STMB’s
entire range of products and services should enable a fasttracked development and innovation of new Takaful products.
Stockbroking
Tanggungjawab Sosial Korporat
22
Misi kumpulan syarikat BHB adalah untuk menyediakan
pelanggan pelbagai fahaman agama dengan produk
kewangan yang berdaya maju dan patuh Syariah sebagai
alternatif kepada produk kewangan konvensional. Produk
BHB ini adalah bebas daripada riba. Dalam pengendalian
perniagaan kumpulan syarikatnya, BHB menjalankan usaha
yang berhemat untuk mendukung nilai-nilai murni ini sambil
melaksanakan tanggungjawab dan kewajipan sosialnya.
Kumpulan syarikat BHB menaruh penuh kepercayaan
terhadap amalan meyumbang kepada masyarakat, dan
telah meletakkan tanggungjawab sosial korporat (TSK)
sebagai antara kegiatan yang diberi keutamaan paling tinggi
sejak BHB ditubuhkan pada tahun 1983. Sebagai syarikat
pemegang pelaburan yang beroperasi berlandaskan
prinsip Islam, BHB tetap komited dan akan meneruskan
usaha untuk menunaikan tanggungjawab sosialnya ke
arah memperkaya dan membangunkan masyarakat secara
umumnya, insyaAllah.
Bank Islam
Sepanjang tahun kewangan 2007 ini, kira-kira RM1 juta
zakat telah dikeluarkan dan diagihkan kepada golongan yang
miskin dan serba kekurangan, seperti anak yatim, ibu tunggal,
pelajar Malaysia di institusi pengajian tinggi awam dan swasta
(universiti tempatan dan antarabangsa), pertubuhan bukan
berasaskan keuntungan dan pertubuhan amal.
Dana zakat juga disalurkan kepada program yang menyokong
rawatan perubatan, pendidikan dan pembinaan masjid dan
sekolah agama di seluruh negara.
Komitmen TSK Bank Islam juga merangkumi usaha
merangsang
pembangunan
sosioekonomi
dengan
menggalakkan
dan
mempromosi
pendidikan
dan
pengetahuan dalam kalangan remaja Malaysia. Sehubungan
itu, sumbangan telah diberikan kepada peraduan “Reka
Cipta, Reka Bentuk Inovasi UiTM”, dan juga kepada
Anugerah Pelajar Terbaik di universiti-universiti tempatan.
Sebagai organisasi yang menyokong inisiatif Bank Negara
Malaysia (BNM) dalam mendidik kanak-kanak mengenai
perancangan kewangan, Bank Islam mengambil bahagian
dalam “duit.saku.com” dan “Program Sekolah Angkat”.
Kedua-dua program ini telah direka untuk membantu kanakkanak sekolah memahami kepentingan merancang dan
mengurus kewangan peribadi.
Sebagai sebahagian daripada inisiatif pendidikannya,
Bank juga mengedarkan “Buku Wang Saku” dan “Buku
Perancangan dan Penyata Kewangan Keluarga”, yang
The mission of the BHB group of companies is to present to
consumers of all faiths viable Shariah-based alternatives to
conventional financial products. These products are free from
usury (riba) and through the conduct and business operations
of its group of companies, BHB makes a conscientious
effort to uphold these ideals whilst implementing its social
responsibility and obligations.
The BHB group of companies strongly believes in giving back
to society, and it has placed corporate social responsibility
(CSR) activities among its top priorities since its establishment
in 1983. As an investment holding company operating along
Islamic principles, it remains committed and will continue in its
effort to fulfill its social responsibility towards the enrichment
and development of the community at large, God willing.
Bank Islam
The zakat fund is also chanelled towards programmes that
support medical treatments, education and building of
mosques and religious schools throughout the country.
Being an organisation in support of Bank Negara Malaysia’s
(BNM) initiative towards educating children on financial
planning, Bank Islam participated in “duit.saku.com” and a
school adoption program called “Program Sekolah Angkat”.
Both programs are designed to assist school children in
understanding the importance of planning and managing
personal finances.
As part of its education initiative, the Bank also distributed
“Buku Wang Saku” and “Buku Perancangan dan Penyata
Kewangan Keluarga”, published by BNM to students and
parents of the adopted schools. Walk-in customers at the
branches were also given this special book.
In support of Khazanah Nasional Berhad under the GLC
(Government Linked Companies) PINTAR programme, Bank
Islam adopted four primary schools respectively in Pahang,
Kelantan, Terengganu and Pulau Pinang. PINTAR is an
education programme that encourages all GLCs to adopt a
rural school to promote and increase the use of the English
Language amongst its students. This program runs for three
years and its adoption is in view of improving the educational
achievements of school children.
23
During the financial year under review, approximately RM1
million has been contributed to Zakat (tithes) and this
have been widely distributed to the needy, which include
orphanages, single mothers, Malaysian students in public
and private institutions of higher learning (both local and
international universities), non-profitable organizations and
charitable organizations.
Bank Islam’s CSR commitment also extends to the
promotion of social economic development, by encouraging
and promoting education and knowledge among Malaysian
youths. In view of this, contributions have been made to
the “Invention, Innovation Design UiTM” competition, as
well as the Universities’ Best Student Awards at the local
universities.
diterbitkan oleh BNM untuk para pelajar sekolah angkat
yang berkenaan dan ibu bapa mereka. Pelanggan yang
mengunjungi cawangan bank juga diberi buku khas ini.
Sebagai menyokong Khazanah Nasional Berhad di bawah
program PINTAR GLC (syarikat berkaitan kerajaan),
Bank Islam telah mengambil empat (4) sekolah rendah di
Pahang, Kelantan, Terengganu dan Pulau Pinang sebagai
sekolah angkatnya. PINTAR ialah program pendidikan yang
menggalakkan semua GLC mengambil sebuah sekolah di luar
bandar sebagai sekolah angkat bagi tujuan mempromosi dan
meningkatkan penggunaan Bahasa Inggeris dalam kalangan
para pelajar di sekolah itu. Program ini telah dijalankan selama
tiga tahun dan pengambilan sekolah angkat bertujuan untuk
meningkatkan pencapaian pendidikan kanak-kanak sekolah.
24
Melalui program ini, siswazah menganggur yang mengambil
jurusan pengajian Islam diberi peluang menceburi bidang
kerja profesional melalui latihan yang diberikan oleh IBFIM.
Siswazah yang dipilih akan menjalani latihan sebelum
ditempatkan dalam persekitaran amali di institusi perbankan
Islam yang tertentu, termasuklah Bank Islam.
Selain itu, selaku perintis dalam bidang perbankan Islam,
Bank Islam juga telah menyumbang ke arah pembangunan
Pusat Pendidikan Kewangan Islam Antarabangsa (INCEIF).
Khususnya, ini bertujuan untuk membangunkan kandungan
sukatan pelajaran program dan menyediakan khidmat
perundingan oleh kakitangan kanan Bank seterusnya
berkongsi pengetahuan dan kepakaran mereka ke arah
membangunkan industri ini.
Selain itu, Bank Islam juga bekerjasama dengan LTH,
menjalankan program tahunan yang dikenali sebagai
“Sahabat Korporat Tabung Haji”. Melalui kerjasama ini, Bank
Islam menyumbang bantuan kewangan bagi memudahkan
LTH semasa musim Haji.
STMB
Sebagai bank Islam yang pertama di negara ini, Bank
Islam komited terhadap penyelidikan dan penyebaran
pengetahuan dan maklumat mengenai perbankan Islam.
Bank Islam terus menyebarkan pengetahuan tentang
Perbankan Islam dengan menyokong program untuk
siswazah yang menganggur, dengan kerjasama Dewan Amal
Islam Hadhari dan Institut Perbankan dan Kewangan Islam
Malaysia (IBFIM).
Bencana banjir yang melanda negeri Johor pada penghujung
tahun 2006 telah menyaksikan seramai 120 sukarelawan dari
STMB memberikan khidmat bakti mereka bagi membantu
Kerajaan menjayakan kempen “Kampung Angkat”. STMB
menyumbangkan tenaga dan khidmat lain kepada sebilangan
besar keluarga di Kampung Parit Terus, Sri Medan dan
kepada Masjid Parit Kasman.
Cabang takaful Kumpulan BHB, iaitu STMB, berdedikasi
ke arah menunaikan tanggungjawab sosialnya sebagai
warga korporat.
In addition, Bank Islam, in collaboration with LTH, undertakes
a yearly program, called “Sahabat Korporat Tabung Haji”.
Through this collaboration, Bank Islam contributes financial
aid to facilitate LTH during the Hajj seasons.
As the nation’s first Islamic bank, Bank Islam is committed
towards research and the dissemination of knowledge
and information on Islamic banking. The bank continues
to spread knowledge in Islamic Banking by supporting
programs for unemployed graduates, collaborating with
Dewan Amal Islam Hadhari and Islamic Banking and Finance
Institute Malaysia (IBFIM).
Apart from this, Bank Islam being the pioneer in Islamic
banking has also contributed towards the development of
the International Centre for Education in Islamic Finance
(INCEIF), particularly in developing with the content of the
programme syllabus and providing consultancy services by
its senior staff, hence sharing its knowledge and expertise
towards the development of the industry.
STMB
The takaful arm of the BHB Group, STMB, is dedicated
towards discharging its social responsibility as a corporate
citizen.
The flood disaster that hit Johor towards the end of 2006
witnessed a total number of 120 volunteers from STMB
gear up in support of the Government’s “Adopt A Village”
campaign. STMB pledged assistance in labour and kind to
numerous families of Kampung Parit Terus, Sri Medan and to
the Parit Kasman Mosque.
25
Through this program, unemployed graduates majoring
in Islamic studies are given the opportunity to venture into
professional working environments via training provided by
IBFIM. The selected graduates will undergo training prior to
their placements in practical environments at selected Islamic
banking institutions, including Bank Islam.
26
STMB juga menyokong program PINTAR GLC dan telah
memilih Sekolah Permatang Binjai, Kepala Batas sebagai
sekolah angkatnya. Antara projek utama yang telah dirancang
adalah untuk membekalkan buku kerja kepada pelajar
Tahun 4, 5 dan 6 dan berjanji untuk menghulurkan bantuan
kewangan dalam meningkatkan taraf pendidikan mereka.
STMB also supports the GLC PINTAR programme and
has chosen Sekolah Permatang Binjai, Kepala Batas as
its surrogate school. Among the major projects planned
are to supply workbooks to students from Years 4, 5 and
6 and a pledge to financially assist them in increasing their
education levels.
Melangkah ke Hadapan
Moving Forward
Komitmen Kumpulan BHB kepada masyarakat merupakan
komponen penting inisiatif korporat kami. Kami akan terus
mengenal pasti kaedah baru yang berkesan bagi menyumbang
usaha dengan kegiatan yang melibatkan masyarakat demi
pembangunan Ummah. Kami berhasrat memberikan tumpuan
terhadap penambahbaikan keadaan struktur, pendidikan dan
kerohanian masyarakat. Kami juga ingin memastikan bahawa
kami dapat membuat perubahan yang bermakna agar dapat
membangun bersama-sama masyarakat dan membantu
mencapai potensi mereka masing-masing.
BHB Group’s commitment to society is a vital part of our
corporate initiative. We will continue to look for new and
effective ways to contribute to community related activities in
our efforts to participate in the development of the Ummah.
We aim to focus on improving structural, educational and
spiritual circumstances of the community and ensure that
we make a meaningful difference whilst growing with the
community and helping them realise their potential.
27
Defining the Future
Penentuan Masa Depan
Maklumat Korporat
Corporate Information
Lembaga Pengarah
Board of Directors
Jawatankuasa Ganjaran
Remuneration Committee
(Dilantik pada 1 Februari 2007
Appointed on 1 February 2007)
Dato’ Mohd Bakke bin Salleh
Pengarah Bukan Eksekutif Bebas
Independent Non-Executive Director
Dato’ Noorazman bin A. Aziz
(Meletak jawatan pada 31 Oktober 2007
Resigned w.e.f 31 October 2007)
Dato’ Dr Abdul Halim bin Ismail
Encik Zahari @ Mohd Zin bin Idris
Datuk Burhanuddin bin Ahmad Tajudin
Encik Salih Amaran bin Jamiaan
Puan Zaiton binti Mohd Hassan
Datuk Ismee bin Ismail
Dato’ Hairuddin bin Mohamed
Majlis Pengawasan Syariah
28
Ustaz Mohd Bakir bin Haji Mansor
Dr Ahmad Shahbari @ Sobri bin
Salamon
Dr Abdullah bin Haji Ibrahim
Dato’ Daud bin Muhammad
Dr Yusof bin Ramli
Dr Asmak binti Ab Rahman
Ustaz Nasrudin bin Yaakub
(Setiausaha | Secretary)
Jawatankuasa Penamaan dan
Penilaian
Nomination and Assessment
Committee
Ahli-ahli | Members
Ahli-ahli | Members
JAWATANKUASA KHAS LEMBAGA
PENGARAH
SPECIAL BOARD COMMITTEE
Ahli-ahli | Members
Pengarah Bukan Eksekutif Tidak Bebas
Non-Independent Non-Executive Director
Pengarah Eksekutif Tidak Bebas
Non-Independent Executive Director
Dato’ Zukri bin Samat
Pengarah Urusan | Managing Director
Jawatankuasa Audit dan
Pemeriksaan
Audit and Examination
Committee
Ahli-ahli | Members
Ketua-Ketua eksekutiF Dalam
Kumpulan
CEOs IN THE GROUP
Pengarah Urusan Kumpulan
Group Managing Director
Dato’ Mohamed Hassan bin Md Kamil
Dato’ Idris bin Md Tahir
Encik Nor Idzam bin Ya’akub
Setiausaha Syarikat
Company Secretaries
Encik Saiful Nizam bin Yasin
(LS 08955)
YM Tengku Maizura binti Tengku Ishak
(LS 09202)
Juruaudit
Auditors
KPMG Desa Megat & Co (AF 0759)
Wisma KPMG
Jalan Dungun
Damansara Heights
50490 Kuala Lumpur
Pejabat Berdaftar
Registered Office
Level 18,
Menara Yayasan Tun Razak
200 Jalan Bukit Bintang
55100 Kuala Lumpur
Tel: +603 2781 2999
Fax: +603 2781 2998
Pendaftar Saham
Share Registrar
Symphony Share Registrars Sdn Bhd
Level 26
Menara Multi-Purpose
Capital Square
No 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Penyenaraian Bursa Saham
Stock Exchange Listing
Papan Utama Bursa Malaysia
Securities Berhad |
Main Board of Bursa Malaysia
Securities Berhad
16 September 1997
Profil Pengarah
Pengerusi Bukan Eksekutif Tidak Bebas
Non-Independent Non-Executive Chairman
Sarjana Pentadbiran Awam, Pennsylvania State University (USA)
Master in Public Administration, Pennsylvania State University (USA)
Tan Sri Samsudin, a Malaysian, aged 60 was appointed Chairman
of BHB on 1 February 2007.
Tan Sri Samsudin telah menjawat pelbagai jawatan penting
dalam perkhidmatan awam Malaysia sejak tahun 1969
sebagai Penolong Setiausaha dalam Jabatan Perkhidmatan
Awam. Beliau pernah memegang beberapa jawatan utama
antaranya Setiausaha Persekutuan Negeri Sabah dari tahun
1990 hingga 1994 dan Ketua Setiausaha, Kementerian
Perdagangan Dalam Negeri dan Hal Ehwal Pengguna dari
tahun 1994 hingga 1996. Beliau merupakan Ketua Setiausaha,
Kementerian Dalam Negeri dari tahun 1996 hingga 1998 dan
seterusnya menjawat jawatan Ketua Setiausaha Jabatan
Perkhidmatan Awam dari tahun 1998 hingga 2001. Beliau
dilantik menjadi Ketua Setiausaha Negara sehingga beliau
bersara pada tahun 2006.
Tan Sri Samsudin has had an illustrious career with the
Malaysian civil service having joined in 1969 as an Assistant
Secretary in the Public Service Department. He rose through
the ranks and held key positions amongst others as the Federal
Secretary of Sabah from 1990 to 1994 and as the Secretary
General, Ministry of Domestic Trade and Consumer Affairs
from 1994 to 1996. He was the Secretary General, Ministry
of Home Affairs from 1996 to 1998 and became the Director
General of Public Service Department from 1998 to 2001.
He was appointed the Chief Secretary to the Government of
Malaysia until his retirement in 2006.
Pada masa ini, Tan Sri Samsudin memegang jawatan Presiden
Perbadanan Putrajaya. Beliau juga merupakan Pengerusi bagi
Lembaga Kumpulan Wang Simpanan Pekerja (KWSP), Panel
Pelaburan KWSP dan Universiti Utara Malaysia (UUM).
Tan Sri Samsudin is presently the President of Perbadanan
Putrajaya. He is also the Chairman of the Employees Provident
Fund (EPF) Board, EPF Investment Panel and University Utara
Malaysia.
Beliau tidak mempunyai sebarang pertalian kekeluargaan
dengan mana-mana pengarah dan/atau pemegang saham
utama BHB dan tidak mempunyai sebarang konflik
kepentingan dengan BHB kecuali sebagai pengarah nomini
LTH. Beliau tidak pernah dikenakan sebarang tindakan
undang-undang dalam tempoh 10 tahun yang lalu.
He does not have any family relationship with any director and/
or major shareholder of BHB nor does he have any conflict of
interest with BHB except by virtue of being a nominee director
of LTH. He has not been convicted of any offence within the past
ten (10) years.
Beliau telah menghadiri (3) daripada (3) Mesyuarat Lembaga
Pengarah yang diadakan pada tahun kewangan semenjak
pelantikan beliau.
He attended (3) out of (3) Board Meetings held in the financial year
since his appointment.
29
Tan Sri Samsudin, warganegara Malaysia, berusia 60 tahun,
dilantik sebagai Pengerusi BHB pada 1 Februari 2007.
Profil Pengarah
Pengarah Eksekutif Tidak Bebas
(Meletak jawatan pada 31 Oktober 2007)
(Resigned w.e.f 31 October 2007)
Sarjana Muda (Kewangan), Louisiana State University (USA)
BSc (Finance), Louisiana State University (USA)
30
Dato’ Noorazman, warganegara Malaysia, berusia 51
tahun, dilantik sebagai Pengarah pada 1 April 2005. Beliau
melepaskan jawatan sebagai Pengarah Urusan Kumpulan
BHB berkuatkuasa 31 Oktober 2007. Sebelum ini, beliau
ialah Pengarah Urusan Bank Islam dari April 2005 hingga
Jun 2006.
Dato’ Noorazman, a Malaysian, aged 51, was appointed to
the Board on 1 April 2005. He resigned as Group Managing
Director of BHB with effect from 31 October 2007. Prior to this
he was the Managing Director of Bank Islam from April 2005
until June 2006.
Beliau kini merupakan ahli Lembaga Pengarah STMB.
He is currently a member of the STMB Board.
Dato’ Noorazman mempunyai pengalaman lebih 20 tahun
dalam sektor kewangan antarabangsa, perbankan dan
pasaran kewangan terutama dalam khazanah, pelaburan,
perbankan korporat dan kewangan serta pembiayaan luar
pesisir dan pasaran modal.
Dato’ Noorazman has over twenty (20) years experience in
the international finance sector, banking and financial markets
especially in treasury, investment, corporate banking and
finance as well as offshore financing and capital markets.
Dari Mei 2001 hingga April 2003, Dato’ Noorazman telah
dipinjamkan kepada Kementerian Kewangan sebagai Ketua
Pengarah Lembaga Perkhidmatan Kewangan Luar Pesisir
Labuan. Dari Julai 2003 hingga Mei 2004, Dato’ Noorazman
berkhidmat sebagai Ketua Pegawai Operasi di Bursa Malaysia.
Kemudian beliau menyertai Citigroup sebagai Pengarah
Urusan dan Ketua Perbankan Korporat Citibank Malaysia
Berhad.
From May 2001 until April 2003, Dato’ Noorazman was seconded
to the Ministry of Finance as the Director General of Labuan
Offshore Financial Services Authority. From July 2003 until May
2004, Dato’ Noorazman served tenure as the Chief Operating
Officer of Bursa Malaysia. Thereafter, he joined Citigroup as the
Managing Director and Head of Corporate Banking of Citibank
Malaysia Berhad.
utama BHB. Beliau juga tidak mempunyai konflik kepentingan
dengan BHB. Beliau tidak pernah dikenakan sebarang
tindakan undang-undang dalam tempoh 10 tahun yang lalu.
interest with BHB. He has not been convicted of any offence
within the past ten (10) years.
yang diadakan pada tahun kewangan.
He attended (11) out of (12) Board Meetings held in the financial
year.
Profil Pengarah
Doktor Falsafah (Ekonomi), University of Oxford (England)
PhD (Economics), University of Oxford (England)
Dato’ Dr. Abdul Halim, a Malaysian, aged 68, was appointed a
Director of BHB on 21 August 1998.
Dato’ Dr Abdul Halim kini merupakan Pengarah Eksekutif
BIMBSEC. Sebelum itu, beliau Pengarah Urusan Bank Islam
sehingga 1994.
Dato’ Dr. Abdul Halim is presently the Executive Director of
BIMBSEC Sdn. Bhd. Prior to this, he was the Managing Director
of Bank Islam until 1994.
Dato’ Dr Abdul Halim merupakan Pengerusi BIMB Unit
Trust Management Berhad dan Mentakab Rubber Company
(Malaya) Berhad. Beliau juga ialah Pengarah Golden Hope
Plantations Berhad, Institut Kefahaman Islam Malaysia (IKIM),
Synergy Drive Berhad dan ahli Badan Penasihat Syariah di
Suruhanjaya Sekuriti dan Bank Negara Malaysia.
Dato’ Dr. Abdul Halim is currently the Chairman of BIMB Unit
Trust Management Berhad and Mentakab Rubber Company
(Malaya) Berhad. He is also a Director of Golden Hope Plantations
Berhad, Institut Kefahaman Islam Malaysia (IKIM), Synergy Drive
Berhad and is a member of the Shariah Advisory Council(s) of the
Securities Commission and Bank Negara Malaysia.
dengan BHB kecuali sebagai pengarah nomini PNB. Beliau
tidak pernah dikenakan sebarang tindakan undang-undang
dalam tempoh 10 tahun yang lalu.
of PNB. He has not been convicted of any offence within the
past ten (10) years.
Pengarah yang diadakan pada tahun kewangan.
year.
31
Dato’ Dr Abdul Halim, warganegara Malaysia, berusia 68
tahun, dilantik sebagai Pengarah BHB pada 21 Ogos 1998.
Profil Pengarah
Sarjana Muda (Ekonomi) London School of Economics and
Political Science, Felo ICA (England dan Wales), Ahli MIA
BSc (Econs) London School of Economics and Political
Science, Fellow of ICA (England and Wales), Member of MIA
32
Dato’ Mohd Bakke, warganegara Malaysia, berusia 53 tahun,
dilantik sebagai Pengarah BHB pada 3 Jun 2002. Beliau
merupakan Pengerusi Jawatankuasa Penamaan dan Penilaian
dan Jawatankuasa Saraan.
Dato’ Mohd Bakke, a Malaysian, aged 53, was appointed
a Director of BHB on 3 June 2002. He is the Chairman of the
Nomination and Assessment Committee and Remuneration
Committee.
Pada masa ini Dato’ Mohd Bakke ialah Pengarah Urusan
Kumpulan dan Ketua Pegawai Eksekutif FELDA Holdings
Berhad. Sebelum ini beliau ialah Pengarah Urusan Kumpulan
dan Ketua Pegawai Eksekutif LTH.
Dato’ Mohd Bakke is presently the Group Managing Director
and Chief Executive Director of Felda Holdings Berhad. Before
assuming this position, he was the Group Managing Director
and Chief Executive Officer of LTH.
Beliau juga merupakan Pengarah Bank Islam, Amanah Raya
Berhad dan juga Ahli Suruhanjaya Sekuriti Malaysia.
He is also a Director of Bank Islam, Amanah Raya Berhad and a
Commission Member of the Securities Commission.
utama BHB dan beliau juga tidak mempunyai sebarang
konflik kepentingan dengan BHB. Beliau tidak pernah
dikenakan sebarang tindakan undang-undang dalam tempoh
10 tahun lalu.
year.
Profil Pengarah
Sijil Senior Cambridge
Senior Cambridge Certificate
Encik Zahari, a Malaysian, aged 64, was appointed a Director
of BHB on 20 September 2002. He is the Chairman of the Audit
and Examination Committee and a member of the Nomination
and Assessment Committee and Remuneration Committee.
Beliau ialah bekas Pengurus Besar Bahagian Perbankan
Komersial di Malayan Banking Berhad sebelum bersara pada
1996.
He was the former General Manager, Commercial Banking
Division of Malayan Banking Berhad before retiring in 1996.
Beliau juga merupakan Pengarah Bank Islam dan Putrajaya
Perdana Berhad.
He is also a director of Bank Islam and Putrajaya Perdana
Berhad.
utama BHB dan beliau juga tidak mempunyai konflik
kepentingan dengan BHB. Beliau tidak pernah dikenakan
sebarang tindakan undang-undang dalam tempoh 10 tahun
yang lalu.
Beliau telah menghadiri kesemua (12) Mesyuarat Lembaga
He attended all (12) Board Meetings held in the financial year.
33
Encik Zahari, warganegara Malaysia, berusia 64 tahun, dilantik
sebagai Pengarah BHB pada 20 September 2002. Beliau
merupakan Pengerusi Jawatankuasa Audit dan Pemeriksaan
dan ahli Jawatankuasa Penamaan dan Penilaian serta
Jawatankuasa Saraan.
Profil Pengarah
Barrister at Law (Middle Temple)
Barrister at Law (Middle Temple)
34
Datuk Burhanuddin, warganegara Malaysia, berusia 74
tahun, dilantik sebagai Pengarah BHB pada 26 April 2004.
Beliau ialah seorang peguam yang telah berkhidmat selama
28 tahun.
Datuk Burhanuddin, a Malaysian, aged 74, was appointed a
Director of BHB on 26 April 2004. He is a lawyer by profession
having practised for over 28 years.
Beliau juga merupakan Pengarah Permodalan Nasional
Berhad, Amanah Saham Nasional Berhad dan Ireka
Corporation Berhad.
He is a Director of Permodalan Nasional Berhad, Amanah Saham
Nasional Berhad and Ireka Corporation Berhad.
dengan BHB kecuali sebagai pengarah nomini PNB. Beliau
tidak pernah dikenakan sebarang tindakan undang-undang
dalam tempoh 10 tahun yang lalu.
year.
Profil Pengarah
Non Independent Non-Executive Director
Sarjana Pentadbiran Perniagaan,
Wharton University of Pennsylvania (USA)
MBA, Wharton University of Pennsylvania (USA)
Encik Salih Amaran, warganegara Malaysia, berusia 67
tahun, dilantik sebagai Pengarah BHB pada 18 Februari
2005. Beliau juga merupakan ahli Jawatankuasa Audit dan
Pemeriksaan.
Encik Salih Amaran, a Malaysian, aged 67, was appointed a
Director of BHB on 18 February 2005. He is also a member of the
Audit and Examination Committee.
Beliau ialah bekas Timbalan Setiausaha, Bahagian Kewangan
di Kementerian Kewangan Malaysia, Pengurus Besar,
Bahagian Perbankan Antarabangsa Malayan Banking Berhad,
Penasihat Khas (Ekonomi) di Pejabat Sekretariat Komanwel,
London dan Timbalan Pengarah, Jabatan Pembiayaan dan
Penggalakkan Perdagangan, Islamic Development Bank (IDB)
di Jeddah. Dari tahun 2000 ke 2002, beliau bertugas sebagai
Wakil Serantau IDB bagi Brunei, Indonesia dan Malaysia,
berpusat di Kuala Lumpur.
He was the former Deputy Secretary, Finance Division at the
Malaysian Ministry of Finance; General Manager, International
Banking Division of Malayan Banking Berhad; Special Adviser
(Economics) of the Commonwealth Secretariat, London; and
Deputy Director, Trade Finance and Promotion Department, of
the Islamic Development Bank (IDB) in Jeddah. From 2000 to
2002, he was the Regional Representative of IDB for Brunei,
Indonesia and Malaysia, based in Kuala Lumpur.
utama BHB dan tidak mempunyai sebarang konflik
kepentingan dengan BHB kecuali sebagai pengarah nomini
PNB. Beliau tidak pernah dikenakan sebarang tindakan
He attended all (12) Board Meetings held in the financial year.
35
Profil Pengarah
Ahli Malaysian Institute of Certified Public
Accountants (MICPA); Fellow Association of
Chartered Certified Accountants (UK)
Member of Malaysian Institute of Certified Public
Accountants (MICPA); Fellow of Association of
Chartered Certified Accountants (UK)
36
Puan Zaiton, warganegara Malaysia, berusia 50 tahun,
dilantik sebagai Pengarah BHB pada 2 Februari 2006. Beliau
merupakan ahli Jawatankuasa Audit dan Pemeriksaan,
Jawatankuasa Penamaan dan Penilaian dan Jawatankuasa
Saraan.
Puan Zaiton, a Malaysian, aged 50, was appointed a Director of
BHB on 2 February 2006. She is also a member of the Audit and
Examination Committee, Nomination and Assessment Committee
and Remuneration Committee.
Puan Zaiton ialah Pengarah Urusan di Capital Intelligence
Advisors Sdn Bhd. Beliau merupakan bekas Presiden/Ketua
Pegawai Eksekutif di Malaysian Rating Corporation Berhad
(MARC). Sebelum menyertai MARC, Puan Zaiton berkhidmat
selama 12 tahun di Maybank dengan menyandang pelbagai
jawatan kanan, termasuk Pengurus Besar, Perancangan
Strategik Kumpulan, iaitu jawatan yang disandang sehingga
beliau meletakkan jawatan pada tahun 1996.
Puan Zaiton is presently the Managing Director of Capital
Intelligence Advisors Sdn Bhd. She was formerly the President/
Executive Director of Malaysian Rating Corporation Berhad
(MARC). Prior to joining MARC, Puan Zaiton served 12 years
with Maybank, in various senior positions, including General
Manager, Group Strategic Planning, a post she held until her
resignation in 1996.
Beliau juga merupakan Ahli Suruhanjaya Syarikat Malaysia
dan ahli Lembaga Bank Islam, Malaysia Industrial
Development Finance Berhad dan Credit Guarantee
Corporation Malaysia Berhad.
She is also a Commission Member of the Companies Commission
of Malaysia and a Board member of Bank Islam, Malaysian
Industrial Development Finance Berhad and Credit Guarantee
Corporation Malaysia Berhad.
utama BHB dan tidak mempunyai konflik kepentingan dengan
BHB. Beliau tidak pernah dikenakan sebarang tindakan
She does not have any family relationship with any director
and/or major shareholder of BHB nor does she have any
conflict of interest with BHB. She has not been convicted of
any offence within the past ten (10) years.
She attended all the (12) Board Meetings held in the financial
year.
Profil Pengarah
Chartered Institute of Management Accountants (UK)
Chartered Institute of Management Accountants (UK)
Datuk Ismee, a Malaysian, aged 42, was appointed Director of
BHB on 9 October 2006. He is also a Board member of Bank
Islam and TH Plantation Berhad.
Datuk Ismee ialah Pengarah Urusan Kumpulan dan Ketua
Pegawai Eksekutif LTH. Sebelum itu, beliau merupakan Ketua
Pegawai Eksekutif ECM Libra Securities dan Pengarah ECM
Libra Capital Sdn Bhd. Beliau juga pernah berkhidmat dengan
beberapa organisasi antaranya selaku Pengurus Besar Kanan
Kewangan, LTH; Ketua Akauntan di Pengurusan Danaharta
Nasional Berhad; Pengurus Besar Pembangunan Perniagaan
di Arab Malaysian Development Berhad dan beberapa jawatan
kewangan di Shell Malaysia.
Datuk Ismee is presently the Group Managing Director and Chief
Executive Officer of LTH. Prior to that, he was the Chief Executive
Officer of ECM Libra Securities and Director of ECM Libra Capital
Sdn. Bhd. He has also served several organizations namely as
Senior General Manager of Finance, LTH; Chief Accountant at
Pengurusan Danaharta Nasional Berhad; General Manager of
Business Development at Arab Malaysian Development Berhad
and several finance positions in Shell Malaysia.
utama dan tidak mempunyai konflik kepentingan dengan
BHB kecuali sebagai pengarah nomini LTH. Beliau juga tidak
pernah dikenakan sebarang tindakan undang-undang dalam
tempoh 10 tahun yang lalu.
He does not have any family relationship with any director and/or
major shareholder of BHB nor does he have any conflict of interest
with BHB except by virtue of being a nominee director of LTH.
He has not been convicted of any offence within the past ten (10)
years.
year.
37
Datuk Ismee, warganegara Malaysia, berusia 42 tahun, dilantik
sebagai Pengarah BHB pada 9 Oktober 2006. Beliau juga
merupakan Pengarah Bank Islam dan TH Plantation Berhad.
Profil Pengarah
Sarjana Muda Sains Sosial, Universiti Sains Malaysia
Bachelor of Social Science, Universiti Sains Malaysia
38
Dato’ Hairuddin, warganegara Malaysia, berusia 57 tahun,
dilantik sebagai pengarah BHB pada 9 Oktober 2006.
Beliau juga merupakan Pengerusi Jawatankuasa Khas
Lembaga BHB.
Dato’ Hairuddin, a Malaysian, aged 57, was appointed Director
of BHB on 9 October 2006. He is also the Chairman of BHB’s
Special Board Committee.
Dato’ Hairuddin merupakan bekas Pesuruhjaya Polis
di Jabatan Siasatan Jenayah Komersial. Beliau pernah
menyandang beberapa jawatan kanan sepanjang tempoh
36 tahun perkhidmatannya dalam pasukan Polis, antaranya,
Timbalan Pesuruhjaya Polis (Ketua Pegawai Polis Kedah),
Penolong Kanan Pesuruhjaya l (Timbalan Pengarah
Pentadbiran (Latihan)) dan Penolong Kanan Pesuruhjaya ll
(Jabatan Siasatan Jenayah, Sarawak).
Datuk Hairuddin was formerly the Commissioner of Police at
the Commercial Crimes Investigation Department. During his
36 years of tenure, he held several senior positions in the
Force, amongst which are Deputy Commissioner of Police
(Chief, Police Officer of Kedah), Senior Assistant Commissioner I
(Deputy Director of Administration (Training) and Senior Assistant
Commissioner II (Crime Investigation Department, Sarawak).
utama BHB dan tidak mempunyai konflik kepentingan dengan
BHB. Beliau tidak pernah dikenakan sebarang tindakan
year.
Ketua-ketua Pegawai Eksekutif dalam Kumpulan
CEOs in the Group
BIMB Holdings Berhad
BIMB Holdings Berhad
Pengarah Urusan
Managing Director
Dato’ Mohamed Hassan
bin Md. Kamil
Syarikat Takaful Malaysia Berhad
Syarikat Takaful Malaysia Berhad
39
Pengarah Eksekutif (Operasi)
BIMB Securities Sdn Bhd
Executive Director (Operations)
BIMB Securities Sdn Bhd
Encik Nor Idzam bin Ya’akub
Ketua Pegawai Eksekutif
Chief Executive Officer
Setiausaha Syarikat
Company Secretaries
Encik Saiful Nizam bin Yasin
YM Tengku Maizura binti Tengku Ishak
Dato’ Idris bin Md Tahir
Majlis Pengawasan Syariah
Ustaz Mohd Bakir bin
Haji Mansor
Dr Ahmad Shahbari @
Sobri bin Salamon
Dato’ Daud bin Muhammad
Ahli | Member
Fellow Penyelidikan Institut Perbankan
dan Kewangan Islam
Research Fellow, Islamic Banking and
Finance Institute Malaysia
Pengerusi Eksekutif
PUSRAWI Corporation Sdn Bhd
Executive Chairman
PUSRAWI Corporation Sdn Bhd
Ketua Hakim Syarie Negeri Kelantan
Sharie’s Chief of Justice, Kelantan
Dr Abdullah bin Haji Ibrahim
Dr Yusof bin Ramli
Dr Asmak binti Ab Rahman
Ahli | Member
Ahli | Member
Ahli | Member
Fellow Penyelidikan Institut Perbankan
dan Kewangan Islam
Research Fellow, Islamic Banking and
Finance Institute Malaysia
Pensyarah Pusat Pemikiran dan
Kefahaman Islam (CITU), Universiti
Teknologi Mara
Lecturer, Centre of Islamic Thought and
Understanding, Universiti Teknologi
Mara
Pensyarah, Jabatan Syariah dan
Ekonomi, Akademi Pengajian Islam
Universiti Malaya
Lecturer, Shariah and Economic
Department, Islamic Studies Academy,
University of Malaya
Ahli | Member
40
Ustaz Nasrudin bin Yaakub
Setiausaha | Secretary
Ketua Jabatan Syariah
Head of Shariah Department
41
Enriching Talents
Memperkaya Bakat
Penyata Tadbir Urus Korporat
BHB (Syarikat) sedar akan kepentingan tadbir urus korporat dan benar-benar komited serta menyokong cadangan yang
dikemukakan oleh Kod Tadbir Urus Korporat Malaysia (Kod). Berdasarkan kesedaran ini, Lembaga Pengarah BHB (Lembaga
Pengarah) sentiasa berusaha memastikan tahap tadbir urus korporat yang tinggi diamalkan oleh semua syarikat dalam
kumpulan BHB (Kumpulan). Kumpulan percaya bahawa integriti dalam proses perniagaan yang disokong oleh sistem dasar
dan kawalan dalaman yang mantap akan membantu mewujudkan nilai jangka panjang Pemegang Saham.
Selain daripada kod itu, Lembaga Pengarah juga mengambil kira kesesuaian untuk mengguna pakai cadangan dan garis panduan
tentang tadbir urus korporat sebagaimana yang digariskan oleh badan pengawal selia seperti Keperluan Penyenaraian Bursa
Malaysia Securities Berhad (Bursa Malaysia), serta Garis Panduan Tadbir Urus Korporat Bank Negara Malaysia (BNM GP1-i).
I.LEMBAGA PENGARAH
1)KOMPOSISI LEMBAGA PENGARAH
Pada masa ini, Lembaga Pengarah dianggotai sembilan (9) Pengarah Bukan Eksekutif dengan empat (4) daripadanya
merupakan Pengarah Bebas. Komposisi Lembaga Pengarah pada masa ini mematuhi syarat yang ditetapkan pada
perenggan 15.02 Keperluan Penyenaraian Bursa Malaysia. Profil ringkas setiap ahli Lembaga Pengarah dinyatakan
pada muka surat 29 hingga 38 dalam Laporan Tahunan ini.
Ahli Lembaga Pengarah terdiri daripada mereka yang mempunyai pelbagai latar belakang dan pengalaman
profesional seperti perbankan dan kewangan, perakaunan, ekonomi dan undang-undang yang dapat menyumbang
pengetahuan, kepakaran serta pandangan mereka yang amat berharga demi mencapai objektif dan wawasan BHB.
Dengan pengetahuan dan pengalaman mereka secara kumpulan, Lembaga Pengarah mempunyai kepakaran yang
diperlukan untuk memantau aktiviti dan prestasi perniagaan mereka yang berkaitan, menilai dan meluluskan pelan
perniagaan strategik bagi Kumpulan dan mengkaji kecukupan dan integriti kawalan dalaman dan sistem maklumat
pengurusan. Komposisi Lembaga Pengarah pada tempoh tahun kewangan ini juga agak sesuai mewakili stuktur
pemilikan syarikat dengan wakil yang mencukupi untuk menjaga kepentingan minoriti melalui pengarah bebas.
Terdapat pembahagian tugas dan tanggungjawab yang jelas antara Lembaga Pengarah dan pihak Pengurusan.
Lembaga Pengarah bertanggungjawab menggubal rangka kerja dasar cara BHB dan Kumpulan patut beroperasi
manakala pihak Pengurusan bertanggungjawab dalam melaksanakan dasar-dasar yang sesuai serta objektif
dan pencapaian sasaran korporat Kumpulan. Di samping itu, terdapat juga perbezaan yang jelas antara peranan
Pengerusi dan Pengarah Urusan. Pengerusi menyediakan kepimpinan berkesan kepada Lembaga Pengarah
manakala Pengarah Urusan mengetuai Pengurusan untuk mempertingkat sumbangan kepada keseluruhan
Kumpulan dan menambah nilai terhadap pemegang saham.
Lembaga Pengarah percaya bahawa keberkesanan dalam tadbir urus korporat ini adalah berlandaskan pada
tiga asas utama, iaitu kebebasan, kebertanggungjawapan dan ketelusan. Bagi tujuan ini, Lembaga Pengarah
mempunyai pengarah yang mampu bertindak serta menyuarakan pandangan dan pendapat mereka secara bebas
tanpa sebarang pengaruh. Lebih penting lagi, Lembaga Pengarah mempunyai ahli yang antaranya ialah Pengarah
Bukan Eksekutif Bebas yang tidak terikat dengan pihak pengurusan dan pemegang saham utama Syarikat. Mereka
juga bebas daripada sebarang kaitan perniagaan atau hubungan lain yang mungkin menjejaskan pertimbangan dan
tugas mereka.
42
2) MESYUARAT LEMBAGA
Kesemua mesyuarat Lembaga Pengarah dijadualkan lebih awal pada permulaan setiap tahun baru kalendar bagi
membolehkan para Pengarah merancang lebih awal dan menyelaraskan jadual mesyuarat itu dengan jadual mereka
masing-masing. Lembaga Pengarah mengadakan mesyuarat sekurang-kurangnya empat (4) mesyuarat biasa yang
terancang setiap tahun dengan mesyuarat tambahan bagi membincangkan hal-hal tertentu, mengikut keperluan.
Pada tahun kewangan berakhir 30 Jun 2007, Lembaga Pengarah telah bermesyuarat sebanyak 12 kali. Kesemua
Pengarah telah mematuhi keperluan kehadiran minimum ke Mesyuarat Lembaga Pengarah sebagaimana yang
ditetapkan oleh Bank Negara Malaysia dan Bursa Malaysia.
Statement of Corporate Governance
BHB (the Company) recognises the importance of corporate governance and is fully committed and supports the recommendations
of the Malaysian Code on Corporate Governance (the Code). Based on this premise, the Board of Directors of BHB (the Board)
constantly strives to ensure that high standards of corporate governance are being practiced throughout BHB group of companies
(the Group). The Group believes that integrity in business processes supported by a sound system of policies and internal
controls will help create long-term value for our Shareholders.
In addition to the Code, the Board also considers where appropriate the adoption of recommendations and guidelines on
corporate governance outlined by regulatory bodies such as Bursa Malaysia Securities Berhad’s Listing Requirements and Bank
Negara Malaysia’s Guidelines on Corporate Governance (BNM GP1-i).
I. BOARD OF DIRECTORS
1) COMPOSITION AND DIVISION OF RESPONSIBILITIES
The Board currently has nine (9) non-executive directors, of whom four (4) are independent. The current composition of
the Board is in compliance with paragraph 15.02 of the Listing Requirements of Bursa Malaysia Securities Berhad (Bursa
Malaysia). A brief profile of each member of the Board is presented on page 29 to 38 of this Annual Report.
There is a clear division of duties and responsibilities between the Board and Management. The Board is responsible for
setting the policy framework within which the Company and the Group should be operating whilst the Management is
accountable for the execution of enabling policies and attainments of the Group’s corporate goals and objectives. There
is also a clear distinction between the role of Chairman and the Managing Director. The Chairman provides effective
leadership to the Board while the Managing Director provides stewardship to the Management to improve contribution
to overall earnings of the Group and to enhance value for shareholders.
The Board believes that effective corporate governance is premised on three important cornerstones, namely
independence, accountability and transparency. For this reason, the Board has directors who are able to act independently
and express their views and opinions unencumbered and free from any influence. More importantly, the Board has as
members, independent non-executive directors who are independent from management and major shareholders of the
Company. The independent directors are also free from any business or other relationships that could materially interfere
with the exercise of their objective and independent judgment.
2) BOARD MEETINGS
Board meetings are scheduled in advance at the beginning of a new calendar year to enable directors to plan ahead and
fit the year’s meeting into their own schedules. The Board has at least four (4) regularly scheduled meetings annually with
additional meetings for particular matters, convened as and when required.
For the financial year ended 30 June 2007, the Board met (12) times. All Directors had complied with the minimum
number of attendances for Board Meetings as stipulated by BNM and Bursa Malaysia.
43
The Board has within it, members from diverse professional backgrounds and experiences such as banking and
finance, accounting, economics and law, bringing with them invaluable knowledge, expertise and perspective to
achieve the Group’s objectives and vision. Cumulatively, with their knowledge and experience, the Board has the
expertise required for the task of overseeing the conduct and performance of its respective businesses, reviewing and
approving the strategic business plans for the Group and reviewing the adequacy and integrity of internal controls and
management information systems. The composition of the Board during the financial year under review had also fairly
represented the ownership structure of the company with appropriate representations of minority interest through the
independent directors.
Butiran kehadiran setiap Pengarah ke mesyuarat sepanjang tempoh mereka memegang jawatan bagi tahun
kewangan berakhir 30 Jun 2007 adalah seperti yang berikut:
PengarahKehadiran/ Bil Mesyuarat
(dilantik pada 1 Februari 2007)
Dato’ Noorazman bin A.Aziz
(meletak jawatan pada 31 Oktober 2007)
Dato’ Dr. Abdul Halim bin Ismail
Zahari @ Mohd Zin bin Idris
Salih Amaran bin Jamiaan
Zaiton binti Mohd Hassan
(dilantik pada 9 Oktober 2006)
(dilantik pada 9 Oktober 2006)
44
3/3*
11/12
9/12
11/12
12/12
11/12
12/12
12/12
5/9*
9/9*
*Menunjukkan bilangan mesyuarat yang diadakan sepanjang Pengarah berkenaan memegang jawatan.
3) BEKALAN MAKLUMAT
Lembaga Pengarah mempunyai akses penuh dan tidak terbatas pada semua maklumat yang berkaitan dengan urus
niaga dan urusan BHB bagi membolehkan mereka menjalankan tugas dengan berkesan. Semua Pengarah mempunyai
akses mendapatkan nasihat dan khidmat Setiausaha Syarikat dan jika perlu, mereka boleh mendapatkan khidmat
nasihat profesional bebas.
Laporan Lembaga Pengarah menyediakan perkembangan terkini berkenaan operasi, kewangan dan korporat yang
diedarkan sebelum mesyuarat Lembaga Pengarah bagi membolehkan mereka mendapat penjelasan atau huraian lanjut
sebagai persediaan sebelum menghadiri mesyuarat.
4) PELANTIKAN MENGANGGOTAI LEMBAGA
Lembaga Pengarah telah menetapkan prosedur rasmi dan telus dalam pelantikan ahli baru menganggotai Lembaga
Pengarah. Jawatankuasa Penamaan dan Penilaian diberi tanggungjawab untuk mengenal pasti serta membuat
cadangan tentang pelantikan pengarah baru menganggotai Lembaga Pengarah Syarikat selepas mengambil kira
keperluan pelbagai kemahiran, pengalaman dan kualiti lain yang dimiliki oleh calon.
5) PEMILIHAN SEMULA
Berdasarkan Tataurusan Pertubuhan Syarikat, sekurang-kurangnya sepertiga (1/3) daripada pengarah dikehendaki
bersara secara giliran setiap tahun kewangan dan mereka boleh menawarkan diri untuk dipilih semula pada Mesyuarat
Agung Tahunan (AGM). Pengarah yang dilantik oleh Lembaga untuk mengisi kekosongan biasa tertakluk pada pemilihan
oleh pemegang saham pada AGM pertama selepas pelantikan mereka.
Pelantikan semua Pengarah tertakluk pada kelulusan Bank Negara Malaysia.
Details of attendance of each Director who was in office during the financial year ended 30 June 2007 are as follow:-
Directors
(appointed on 1 February 2007)
Dato’ Noorazman bin A.Aziz
(resigned w.e.f 31 October 2007)
(appointed on 9 October 2006)
(appointed on 9 October 2006)
* Reflects the number of meetings held during the time the Directors held office.
No. of meetings and attendances
3/3*
11/12
9/12
11/12
12/12
11/12
12/12
12/12
5/9*
9/9*
3) SUPPLY OF INFORMATION
The Board of Directors has full and unrestricted access to all information pertaining to the Group’s businesses and affairs
to enable them to discharge their duties effectively. All Directors have access to the advice and services of the Company
Secretary and they may also seek independent professional advice where necessary.
Board reports providing updates on operational, financial and corporate developments are circulated on a timely basis
prior to board meetings to enable them to obtain further clarification or explanation where necessary in order to be
adequately apprised before meetings.
4) APPOINTMENT TO THE BOARD
The Board has put in place formal and transparent procedures for the appointments of new members to the Board. The
Nomination and Assessment Committee is entrusted with the specific tasks of identifying and making recommendations
on the appointments of new directors to the Board of the Company after taking into account the required mix of skills,
experience and other qualities of the appointee.
5) RE-ELECTION
In accordance with the Company’s Articles of Association, at least one-third (1/3) of the directors are required to retire
by rotation each financial year and can offer themselves for re-election at the Annual General Meeting (AGM). Directors,
who are appointed by the Board to fill a casual vacancy are subject to election by shareholders at the first AGM following
their appointment.
All appointments of Directors are subject to the approval of BNM.
45
6)KEAHLIAN DALAM LEMBAGA PENGARAH SYARIKAT LAIN
Menurut Keperluan Penyenaraian Bursa Malaysia, setiap ahli Lembaga Pengarah dibolehkan menjadi ahli lembaga
pengarah tidak melebihi sepuluh (10) syarikat awam dan tidak melebihi lima belas (15) keahlian dalam lembaga pengarah
syarikat bukan awam yang tersenarai.
7)LATIHAN PENGARAH
Semua Pengarah telah mengikuti dan tamat dengan jayanya Program Akreditasi Mandatori sebagaimana yang ditetapkan
oleh Bursa Malaysia.
Di samping itu, semua Pengarah dimaklumkan tentang seminar dan persidangan yang berkaitan dengan isu perbankan
dan kewangan, tanggungjawab Pengarah serta tadbir urus korporat anjuran pihak berkuasa yang berkaitan untuk
mereka hadiri. Pengarah digalakkan menghadiri program pembelajaran dan seminar yang berterusan supaya mereka
dapat mengikuti perkembangan dunia perniagaan.
Program Latihan Terpilih Yang Dihadiri oleh Para Pengarah:
Tajuk Kursus/Jurulatih
Memperbaiki Prestasi Lembaga Pengarah, Kepimpinan dan Tataurus/James Crown Knowledge
Group Consulting Sdn Bhd
46
8) Ganjaran PENGARAH
Pengarah Bukan Eksekutif diberi bayaran dalam bentuk yuran pengarah yang diluluskan oleh pemegang saham di AGM.
Butiran mengenai saraan kepada Pengarah bagi tahun kewangan berakhir 30 Jun 2007 dinyatakan pada muka surat 128
hingga 129 dalam Laporan Tahunan ini.
II. JAWATANKUASA LEMBAGA Pengarah
Lembaga Pengarah telah menugaskan tanggungjawab tertentu kepada Jawatankuasa Lembaga Pengarah, yang
berurusan mengikut bidang tugas yang jelas terutamanya bagi membantu Lembaga Pengarah menjalankan tugas dan
tanggungjawabnya.
LEMBAGA PENGARAH
Jawatankuasa Audit
dan Pemeriksaan
Jawatankuasa
Penamaan dan Penilaian
Jawatankuasa
Ganjaran
Jawatankuasa Khas
Lembaga Pengarah
6) DIRECTORSHIP IN OTHER COMPANIES
Pursuant to the Listing Requirements of Bursa Malaysia, each member of the Board holds not more than ten (10)
directorships in public companies and not more than fifteen (15) directorships in non-public listed companies.
7) DIRECTORS’ TRAINING
All Directors have attended and successfully completed the Mandatory Accreditation Programme in the manner
prescribed by Bursa Malaysia.
In addition, seminars and conferences organised by the relevant regulatory authorities on areas relevant to banking
and finance, Directors’ responsibilities and corporate governance issues are made known to the Directors for their
participation in such seminars and conferences. Directors are encouraged to attend continuous education programmes
and seminars to keep them abreast with developments in the market place.
Selected Training Programmes Attended By Directors:
Course Title/Trainer
Improving Board Directors’ Performance, Leadership and Governance/James Crown of Knowledge
Group Consulting Sdn Bhd
Non-executive Directors are paid directors’ fees and these are approved by shareholders at the AGM. Details of the
remuneration of Directors for the year ended 30 June 2007 are set out on page 128 to 129 of this Annual Report.
II. BOARD COMMITTEES
The Board has delegated certain responsibilities to Board committees, which operate within clearly defined terms of reference
primarily to assist the Board in the execution of its duties and responsibilities.
BOARD OF DIRECTORS
Audit and
Examination Committee
Nomination and
Assessment Committee
Remuneration
Committee
Special Board
Committee
8) DIRECTORS’ REMUNERATION
47
1) JAWATANKUASA PENAMAAN DAN PENILAIAN
Jawatankuasa ini bertanggungjawab menilai, mempertimbangkan dan mencadangkan kepada Lembaga calon
untuk memegang jawatan Pengarah dalam Kumpulan. Tanggungjawab lain bagi Jawatankuasa ini adalah seperti
yang berikut:
•
•
•
•
48
mengesyorkan kepada Lembaga Pengarah hal-hal yang berkaitan dengan pembaharuan atau lanjutan pelantikan
dan pemilihan semula pengarah yang bersara.
mencadangkan kepada Lembaga Pengarah, para pengarah yang layak menduduki Jawatankuasa Lembaga.
mengesyorkan kepada Lembaga Pengarah hal-hal yang berkaitan dengan pelantikan pengarah eksekutif serta
pelantikan pengurusan kanan.
mengkaji dan menilai prestasi Lembaga Pengarah secara keseluruhan dan pelbagai jawatankuasanya serta
sumbangan tahunan setiap pengarah.
Jawatankuasa ini terdiri daripada pengarah bukan eksekutif yang kesemuanya bebas. Mesyuarat diadakan apabila
perlu bagi membincangkan hal-hal yang berkaitan. Keahlian Jawatankuasa dalam tahun kewangan adalah seperti
yang berikut:
Nama ahliKehadiran/Bil Mesyuarat
Pengerusi, Pengarah Bukan Eksekutif Bebas
9/9
9/9
9/9
2) JAWATANKUASA SARAAN
Jawatankuasa ini berperanan membantu dan menyokong tanggungjawab Lembaga dari segi pakej saraan kepada para
pengarah dalam segala bentuk. Jawatankuasa ini juga bertanggungjawab menilai dan mengesyorkan kepada Lembaga:
•
•
pakej ganjaran Pengarah Eksekutif dalam segala bentuk, dengan nasihat profesional bebas yang lain jika perlu.
pakej ganjaran bukan eksekutif ditentukan oleh Lembaga secara keseluruhan kecuali saraan bagi mana-mana ahli
Jawatankuasa ini.
Jawatankuasa ini dianggotai oleh pengarah bukan eksekutif dan kesemuanya adalah bebas. Mesyuarat diadakan
apabila perlu bagi membolehkan Jawatankuasa membincangkan hal-hal yang berkaitan. Keahlian Jawatankuasa dalam
tahun kewangan adalah seperti yang berikut:
Nama ahliKehadiran/Bil Mesyuarat
10/10
10/10
10/10
1) NOMINATION AND ASSESSMENT COMMITTEE
The Committee is responsible to assess, consider and recommend to the Board, candidates for directorships to be filled
in the Group. The other responsibilities of the Committee are as follow:•
•
•
•
to recommend to the Board on matters of renewal or extension of directors appointment and reappointment of
retiring directors.
to recommend to the Board, directors to fill the seats on Board Committees.
to recommend to the Board on matters of appointment of executive director as well as appointment of senior
management.
to review and assess performance of the Board as a whole and its various standing committees as well as the
contribution of each individual directors annually.
The Committee comprises non-executive directors, all of whom are independent. Meetings are held as and when is
necessary for the Committee to deliberate on related matters. The members of the Committee comprised of the following
members during the financial year:-
Name of members
Chairman, Independent Non-Executive Director
No. of meeting and attendances
9/9
9/9
2) REMUNERATION COMMITTEE
The Committee’s role is to assist and support the Board’s responsibility in respect of remuneration package of directors
in all forms. The Committee is also responsible to assess and recommend to the Board:•
•
the remuneration package of executive directors in all its form, using other independent professional advice, if
necessary.
the remuneration of non-executive directors which shall be a decision of the Board as a whole, save and except
where the remuneration is in respect of any member or members of this Committee.
The Committee comprises non-executive directors, all of whom are independent. Meetings are held as and when is
necessary for the Committee to deliberate on related matters. The Committee comprised of the following members
during the financial year:-
Name of members
No. of meeting and attendances
10/10
10/10
10/10
9/9
49
3) JAWATANKUASA KHAS LEMBAGA PENGARAH
Jawatankuasa ini ditubuhkan khusus untuk mempertimbangkan dan menyiasat, menilai, menasihati jika difikirkan
perlu dan mencadangkan kepada Lembaga BHB akan bentuk tindakan yang patut diambil pada mana-mana pegawai,
penasihat atau pakar runding syarikat dalam Kumpulan BHB apabila terdapat bukti kukuh yang boleh dipercayai bahawa
pegawai, penasihat atau pakar runding berkenaan telah membuat tindakan yang boleh memudaratkan kepentingan
entiti tersebut. Tanggungjawab lain Jawatankuasa adalah seperti yang berikut:
•
•
•
•
50
untuk mendapatkan khidmat nasihat guaman atau pegawai yang berkaitan dalam Kumpulan BHB tentang sebarang
laporan, penemuan, pemerhatian dan cadangan atas perilaku pegawai, penasihat atau pakar runding berkenaan isu
yang diputuskan oleh Lembaga BHB;
untuk menggunakan khidmat penasihat undang-undang bebas, sekiranya perlu, bagi mendapatkan nasihat undangundang yang bebas mengenai sebarang isu kontroversi yang dianggap kompleks;
untuk meminta penjelasan daripada pegawai yang berkaitan tentang pengendalian, pengurusan, keputusan,
tindakan atau pengabaian tentang isu berkaitan; dan
untuk menubuhkan jawatankuasa kecil yang terdiri daripada pegawai syarikat berkenaan dalam Kumpulan BHB
bagi membantu melaksanakan tanggungjawab mereka termasuk menjalankan penyiasatan lanjut bagi mengenal
pasti fakta tertentu atau mengumpulkan maklumat lanjut.
Ahli Jawatankuasa ini adalah seperti yang berikut:-
Nama ahli
Pengarah Urusan, Bank Islam Malaysia Berhad
Kehadiran/Bil Mesyuarat
6/6
6/6
6/6
6/6
6/6
4) JAWATANKUASA AUDIT DAN PEMERIKSAAN
Sehingga tarikh Laporan Tahunan ini, Jawatankuasa Audit dan Pemeriksaan terdiri daripada tiga (3) Pengarah Bukan
Eksekutif (dua (2) daripadanya ialah Pengarah Bukan Eksekutif Bebas, termasuk Pengerusi). Keahlian dan kehadiran
Jawatankuasa ke mesyuarat Jawatankuasa adalah seperti yang berikut:
Nama ahli
Kehadiran/Bil Mesyuarat
Pengerusi/ Pengarah Bukan Eksekutif Bebas
10/10
10/10
10/10
3) SPECIAL BOARD COMMITTEE
The Committee is specifically established to consider and appropriate to inquire into, evaluate, advise and recommend
to BHB’s Board on actions to be taken against any officer, adviser or consultants of companies within BHB Group where
there are sufficient grounds to believe that such officer, adviser or consultant has acted in such manner, detrimental to
the interests of such entities. The other responsibilities of the Committee are as follow:•
•
•
•
to consult solicitors or the relevant officers of the companies within BHB Group in relation to any reports, findings,
observations and recommendations on the conduct of officers, advisers or consultants in relation to the issue
determined by BHB’s Board;
to engage independent legal advisor, where necessary to provide independent legal advice on any contentious
issues that are viewed to be complex in nature;
to request for explanation or clarification by such relevant officers in relation to the handling, management, decisions,
actions or omission relating to the issue; and
to establish a sub-committee(s) comprising of such officers of companies within BHB Group to assist it in carrying out
its function including carrying out further investigation to establish certain facts or to collate further information.
The members of the Committee comprised of the following members:-
Name of members
Managing Director, Bank Islam Malaysia Berhad
6/6
6/6
6/6
6/6
6/6
4) AUDIT AND EXAMINATION COMMITTEE
The Committee comprises as at the date of this Annual Report, three (3) non-executive directors two (2) of whom,
including the Chairman, are independent directors). The composition of the Committee and details of attendance of
each member at Committee meetings during the period under review are as follows:-
Name of members
Chairman/Independent Non-Executive Director
10/10
10/10
10/10
51
Bidang Tugas
Bidang tugas Jawatankuasa ini adalah seperti yang berikut:
•KOMPOSISI
Jawatankuasa ini terdiri daripada sekurang-kurangnya tiga (3) pengarah bukan eksekutif yang majoritinya merupakan
pengarah bukan eksekutif bebas. Pengerusinya ialah pengarah bukan eksekutif bebas.
Sekurang-kurangnya seorang (1) ahli Jawatankuasa terdiri daripada ahli Institut Akauntan Malaysia atau mempunyai
kelayakan yang serupa sebagaimana yang termaktub dalam Bahagian I dan Bahagian II Jadual Pertama Akta Perakaunan
1967, dengan pengalaman kerja selama tiga (3) tahun.
Jawatankuasa ini tidak boleh mempunyai pengarah giliran sebagai ahli.
•KEKERAPAN MESYUARAT
52
Mesyuarat perlu diadakan tidak kurang daripada empat (4) kali setahun. Juruaudit luar boleh memohon untuk mengadakan
mesyuarat sekiranya difikirkan perlu.
•KORUM
Korum perlu dua (2) orang, dengan kedua-dua terdiri daripada pengarah bukan eksekutif bebas. Setiausaha Syarikat (SS)
BHB patut bertindak sebagai Setiausaha kepada Jawatankuasa ini.
•KEHADIRAN SEMASA MESYUARAT
Pengarah Urusan Kumpulan, Ketua Pengawai Kewangan dan Ketua Audit Dalaman bagi anak-anak syarikat perlu menghadiri
mesyuarat melalui jemputan Jawatankuasa ini. Ahli Lembaga lain berhak untuk menghadiri mesyuarat.
•KUASA
Jawatankuasa ini diberi kuasa oleh Lembaga Pengarah untuk mengkaji dan menyelidik sebarang aktiviti yang terkandung
di bawah bidang tugasnya. Jawatankuasa ini juga diberi kuasa oleh Lembaga Pengarah untuk mendapatkan sebarang
maklumat yang diperlukan daripada mana-mana kakitangan dan semua kakitangan diarah bekerjasama memenuhi semua
permintaan Jawatankuasa ini.
Jawatankuasa ini diberi kuasa oleh Lembaga Pengarah untuk mendapatkan nasihat guaman luar atau nasihat profesional
lain jika difikirkan perlu.
• TUGAS DAN TANGGUNGJAWAB
Berikut disenaraikan tugas dan tanggungjawab utama Jawatankuasa
a) mengkaji skop pelan audit juruaudit dalaman serta juruaudit luar.
b) mengkaji pengumuman suku tahunan yang dihantar kepada Bursa Malaysia dan penyata kewangan akhir tahun untuk
dicadangkan kepada Lembaga Pengarah;
Terms of Reference
The terms of reference of the Committee are as follows:
COMPOSITION
The Committee shall comprise at least three (3) non-executive directors, a majority of whom shall be independent nonexecutive directors. The Chairman shall be an independent non-executive director.
At least one (1) member shall be a member of the Malaysian Institute of Accountants or possess similar qualifications
as prescribed in Part I or Part II of the First Schedule of the Accountants Act 1967, with at least three (3) years of work
experience.
The Committee shall not consist of any alternate director of the Company.
•
FREQUENCY OF MEETINGS
Meetings shall be held not less than four (4) times a year. The external auditors may request a meeting if they consider
it necessary.
•
QUORUM
The quorum shall be two (2), both of which shall be independent non-executive directors. The Company Secretary of
BHB shall act as Secretary to the Committee.
•
ATTENDANCE AT MEETINGS
The Group Managing Director, Chief Financial Officer and Chief Internal Auditor of subsidiaries shall attend meetings by
invitation of the Committee. Other Board members shall have the right of attendance.
•
AUTHORITY
The Committee is authorised by the Board to review and investigate any activity within its terms of reference. It is also
authorised by the Board to seek any information it requires from any employees and all employees are directed to
co-operate with any request made by the Committee.
The Committee is authorised by the Board to obtain external legal or other professional advice as and when is necessary.
•
DUTIES AND RESPONSIBILITIES
The following are the main duties and responsibilities of the Committee:
a) to review the scope of audit plans of both the internal and external auditors;
b) to review the quarterly announcement made to Bursa Malaysia and year end financial statements for recommendation
to the Board;
53
•
c) mengkaji dan melaporkan kepada Lembaga Pengarah sebarang transaksi penting yang bukan dalam bidang
perniagaan biasa, terutamanya bagi transaksi pihak yang berkaitan dan potensi konflik kepentingan dalam Syarikat
atau Kumpulan;
d) mengesyorkan kepada Lembaga Pengarah pelantikan juruaudit luar dan yuran audit yang perlu dibayar;
e) membuat cadangan yang sesuai kepada Lembaga perihal peletakan jawatan atau pemberhentian juruaudit Iuar;
f)
mengkaji laporan juruaudit luar kepada pihak Pengurusan dan respons pihak Pengurusan tentang kelemahan prosedur
dan kawalan perakaunan dalaman dan membuat cadangan kepada Lembaga Pengarah; dan
g) mengkaji laporan audit anak-anak syarikat di bawah bidang kuasa Jawatankuasa dan peranan tersebut perlu dilaksanakan
oleh Jawatankuasa bersama-sama dengan Lembaga Pengarah anak-anak syarikat berkenaan.
•
FUNGSI AUDIT DALAM
Fungsi audit dalaman beroperasi di peringkat anak-anak syarikat utama. Juruaudit Dalaman Bank Islam dan STMB
melaksanakan kerja-kerja audit bagi Kumpulan Bank Islam dan Kumpulan STMB.
Juruaudit Dalaman Bank Islam dan STMB melaksanakan pengauditan atas amalan kawalan dalaman dan melaporkan
penemuan kepada Jawatankuasa Audit masing-masing.
Fungsi teras yang jelas Jabatan Audit Dalaman yang berkenaan adalah untuk melaksanakan penilaian bebas atas aktiviti
kumpulan Bank Islam dan STMB, memberi jaminan bersabit dengan pematuhan kepada kawalan dalaman dan proses
pengurusan risiko, dan pematuhan pada undang-undang, peraturan dan dasar.
Pihak pengurusan Bank Islam dan STMB bertanggungjawab memastikan tindakan pembetulan atas laporan kelemahan
yang dilaksanakan dalam tempoh masa yang munasabah.
•
AKTIVITI SEPANJANG TAHUN
Berikut ialah ringkasan aktiviti yang telah dijalankan oleh Jawatankuasa sepanjang tempoh tahun kewangan ini:
54
a) mengkaji pelan audit juruaudit luar, skop kerja dan keputusan audit tahunan bagi Kumpulan;
b) mengkaji penyata kewangan suku tahunan Kumpulan dan draf pengumuman kepada Bursa Malaysia sebelum
memberikan cadangan untuk diluluskan oleh Lembaga Pengarah;
c) mengkaji penyata kewangan tahunan teraudit Syarikat dan Kumpulan bersama juruaudit luar sebelum dikemukakan
kepada Lembaga Pengarah untuk kelulusan mereka;
d) mengkaji keputusan dan laporan juruaudit luar serta respons pihak Pengurusan mengenai penemuan juruaudit luar;
dan
e) memberikan pertimbangan dan mencadangkan kepada Lembaga Pengarah akan pelantikan semula juruaudit luar dan
yuran audit mereka.
c) to review and report to the Board any significant transactions which are not within the normal course of business,
particularly on related party transactions and potential conflicts of interest that may arise within the Company
or Group;
d) to recommend to the Board the appointment of external auditors and audit fees payable thereof;
e) to make appropriate recommendations to the Board on matters of resignation or dismissal of external auditors;
f)
to review external auditors’ letter to the Management and the Management’s response on the weaknesses of internal
accounting procedures and controls and make recommendations to the Board; and
g) to review audit reports of the Company’s subsidiaries which fall under the jurisdiction of the Committee and that
function shall be performed by the Committee in co-ordination with the Board of Directors of the subsidiaries.
•
INTERNAL AUDIT FUNCTION
The internal audit function operates at major subsidiaries level. The Internal Auditors of Bank Islam and STMB conducts
an audit for the Bank Islam Group and STMB Group respectively.
The respective Internal Auditor regularly audits the internal control practices and report significant findings to their
respective Audit Committee with proposed recommendations.
The respective Internal Auditor’s core function is to perform an independent appraisal of the Bank Islam Group and
STMB Group activities, to provide assurance on compliance to internal controls and risk management processes, and
compliance with laws, regulations and policies.
The management of Bank Islam and STMB are responsible to ensure that corrective actions on reported weaknesses
are undertaken within an appropriate time frame.
•
ACTIVITIES DURING THE YEAR
The following is a summary of the activities carried out by the Committee during the financial year:a) reviewed the external auditors’ audit plan, scope of work and results of the annual audit for the Group;
b) reviewed the financial statements of the Group on a quarterly basis and the draft announcement to Bursa Malaysia
before recommending them for approval to the Board;
c) reviewed the annual audited financial statements of the Company and the Group with external auditors prior to the
submission to the Board for their approval;
d) reviewed the external auditor’s results and report as well as the Management’s consequent responses to the findings
of the external auditors; and
e) considered and recommended to the Board the re-appointment of the external auditors and their audit fees.
55
III. AKAUNTABILITI DAN AUDIT
1) PELAPORAN KEWANGAN
Lembaga Pengarah bertanggungjawab membentangkan penilaian yang seimbang dan komprehensif atas operasi dan
prospek Syarikat dan Kumpulan pada setiap hujung tahun kewangan terutamanya melalui penyata kewangan tahunan,
pengumuman keputusan suku tahunan dan setiap setengah tahun dan juga pernyataan Pengerusi serta tinjauan operasi
dalam laporan tahunan.
Penyata kewangan BHB disediakan mengikut keperluan Lembaga Piawaian Perakaunan Malaysia bagi memastikan
laporan yang dikemukakan mengenai prestasi Kumpulan adalah betul dan adil.
Pernyataan oleh Pengarah menurut Seksyen169 Akta Syarikat, 1965 dinyatakan pada muka surat 78 dalam Laporan
Tahunan ini.
2)KAWALAN DALAMAN
56
Lembaga Pengarah sedar akan kepentingan sistem kawalan dalaman yang mantap bagi memelihara kepentingan
pelaburan pemegang saham dan aset Syarikat. Penyata Kawalan Dalaman dipaparkan pada muka surat 58 dalam
Laporan Tahunan ini.
3) HUBUNGAN DENGAN JURUAUDIT
Lembaga Pengarah telah mewujudkan hubungan yang telus dan wajar dengan juruauditnya melalui Jawatankuasa
Audit. Juruaudit Luar mempunyai tanggungjawab untuk mengetengahkan sebarang kepincangan dalam sistem kawalan
dalaman dan pematuhan Kumpulan untuk perhatian pihak Pengurusan, Jawatankuasa Audit serta Lembaga.
Peranan Jawatankuasa Audit berhubung dengan Juruaudit Luar dinyatakan dalam Laporan Jawatankuasa Audit pada
muka surat 50 hingga 55 dalam Laporan Tahunan ini.
IV. PEMEGANG SAHAM
HUBUNGAN PEMEGANG SAHAM DAN PELABUR
Lembaga Pengarah sedar akan kepentingan para pemegang saham, pelabur dan masyarakat umum untuk mendapatkan
maklumat yang saksama dan tepat pada masanya jika dikaitkan dengan prestasi Kumpulan dan hal-hal lain yang menjejaskan
kepentingan pemegang saham.
Satu cara terpenting penyampaian maklumat kepada pemegang saham adalah melalui laporan tahunan yang mengandungi
butiran maklumat yang komprehensif mengenai keputusan dan prestasi Syarikat dan Kumpulan.
AGM dianggap forum utama bagi pemegang saham dan pelabur mendapatkan maklumat tentang perkembangan terkini
dalam Syarikat dan Kumpulan. Pemegang saham dipelawa mengemukakan soalan sewaktu sesi soal jawab sebelum
tindakan mendapatkan kelulusan bagi sesuatu resolusi.
Selain itu, Syarikat dari semasa ke semasa membuat pelbagai pengumuman dan penzahiran usul penting korporat kepada
Bursa Malaysia (termasuk penzahiran wajib di bawah Keperluan Penyenaraian) supaya pelabur awam dapat mengakses
maklumat penting yang mempengaruhi Kumpulan. Anak-anak syarikat utama, Bank Islam dan STMB (tersenarai di Papan
Utama) dari semasa ke semasa juga membuat penzahiran kepada media tentang pelbagai aktiviti yang berkaitan dengan
syarikat yang melibatkan kepentingan awam.
III. ACCOUNTABILITY AND AUDIT
1) FINANCIAL REPORTING
The Board takes responsibility for presenting a balanced and comprehensive assessment of the Company’s and the
Group’s operations and prospects at the end of each financial year primarily through annual financial statements,
quarterly and half-yearly announcement of results to shareholders as well as the Chairman’s Statement and review of
operations in the Annual Report.
The financial statements of BHB are prepared in accordance with the Malaysian Accounting Standards Board’s
requirements to ensure that the reports present a true and fair view of the Group performance.
The Statement by Directors pursuant to Section 169 of the Companies Act, 1965 is set out on page 78 of this
Annual Report.
2) INTERNAL CONTROL
The Board recognises the importance of a sound system of internal controls to safeguard shareholders’ investments and
the Company’s assets. The Statement on Internal Control is set out in page 59 of this Annual Report.
3) RELATIONSHIP WITH AUDITORS
The Board has established transparent and appropriate relationship with its auditors through the Audit Committee. The
external auditors have an obligation to highlight any significant defects in the Group’s system of internal controls and
compliance to the attention of Management, Audit Committee and the Board.
The role of the Audit Committee in relation to the external auditors is described under the Audit Committee Report on
page 50 to 55 of this Annual Report.
IV. SHAREHOLDERS
RELATIONSHIP WITH SHAREHOLDERS AND INVESTORS
The Board recognises the importance of timely and equal access of information with regard to the Company’s and the
Group’s performance and other matters affecting shareholders interest to shareholders, investors and the general public.
One of most important means of communication to shareholders is through the Annual Report which contains comprehensive
details about the financial results and performance of the Company and the Group.
The AGM is regarded as the principal forum during which shareholders and investors are informed of the current developments
of the Company and the Group. Shareholders are invited to ask questions during the question and answer session prior to
the motion moving for approval of a particular resolution.
In addition, the Company from time to time makes various announcements and disclosures on material corporate proposals to
Bursa Malaysia (including mandatory disclosures under the Listing Requirements) so that the investing public has reasonable
access to material information affecting the Group. The Company’s major subsidiaries, Bank Islam and STMB (listed on the
Main Board) also make disclosures to the media from time to time on various matters pertaining to their activities that are of
public interest.
57
Penyata Kawalan Dalaman
Lembaga Pengarah sedar akan kepentingan untuk memantapkan sistem kawalan dalaman dan amalan pengurusan risiko yang
baik bagi memastikan tadbir urus korporat yang berkesan. Lembaga juga sedar akan tanggungjawab mereka untuk mengkaji
kecukupan dan integriti sistem kawalan dalaman Kumpulan, termasuk mengkaji keberkesanannya.
Seperti mana sistem kawalan dalaman yang lain, sistem kawalan dalaman Kumpulan direka untuk mengurus dan bukannya
untuk menghapuskan risiko kegagalan bagi mencapai objektif perniagaan. Oleh itu, sistem ini hanya boleh menyediakan jaminan
munasabah, bukannya jaminan mutlak terhadap salah nyata penting atau kerugian.
Proses mengenal pasti, menilai dan mengurus risiko utama yang dihadapi oleh Kumpulan ialah satu proses yang berterusan dan
ini termasuk mengkaji dan mengemas kini sistem kawalan dalaman apabila terdapat perubahan pada persekitaran perniagaan,
operasi atau garis panduan pengawalseliaan.
Penyata kawalan dalaman anak-anak syarikat perbankan dan takaful diluluskan oleh Jawatankuasa Audit dan Lembaga Pengarah
masing-masing.
Proses kawalan dalaman utama
• Pengurusan Risiko
58
BHB
menyemak
rangka
kerja
pengurusan
risiko
perusahaan
Kumpulan dan menggunakan khidmat
profesional bagi membantu kerja
penyemakan dengan tujuan untuk
memformalkan proses pengenalpastian,
penilaian, pengurusan dan pemantauan
risiko utama yang dihadapi pada
peringkat Kumpulan.
Meskipun demikian, anak-anak syarikat
perbankannya mempunyai rangka kerja
pengurusan risiko yang kukuh yang
menyediakan asas untuk menguruskan
risiko
yang
berkaitan
dengan
perniagaan perbankan. Ini termasuklah
pengurusan risiko kredit, risiko pasaran,
risiko operasi, risiko syariah dan risiko
kecairan.
• Audit Dalaman
Bagi anak syarikat takaful, pihak
pengurusan sedang mengambil langkah
untuk memperbaik proses pengurusan
risikonya dalam bidang operasi,
kewangan dan bidang yang lain.
• Jawatankuasa Audit
dijemput
menghadiri
mesyuarat
Jawatankuasa
Audit
BHB
untuk
berbincang dan membuat pertimbangan
Jawatankuasa
Audit
BHB
dan
anak-anak syarikatnya yang utama
mengkaji isu kawalan dalaman yang
dikenal pasti oleh juruaudit dalaman,
juruaudit luar, badan pengawalseliaan
dan pihak pengurusan sendiri, dan
mempertimbangkan tindakan yang
telah/akan diambil, dan sekiranya
perlu,
menyarankan
tindakan
selanjutnya untuk menangani isu
kawalan dalaman ini.
Jika terdapat isu yang khusus pihak
pengurusan anak-anak syarikat akan
Fungsi audit dalaman BHB dan anak
syarikat milik penuhnya sebelum ini
dilakukan oleh Jabatan audit dalaman
anak syarikat perbankan BHB. Dengan
struktur pemegang saham yang baru
di peringkat anak syarikat perbankan,
BHB
mewujudkan
fungsi
Audit
Dalaman yang merangkumi BHB dan
anak syarikat milik penuhnya.
Audit Dalaman anak syarikatnya
yang utama melaporkan kepada
Jawatankuasa
Audit
anak-anak
syarikat masing-masing. Pelan audit
disemak semula dan diluluskan oleh
Jawatankuasa Audit anak-anak syarikat
masing¬masing dan penemuan audit
diserahkan kepada Jawatankuasa Audit
untuk semakan semasa mesyuarat
berkala.
Jabatan audit dalaman telah melakukan
penilaian kendiri terhadap fungsi¬fungsinya bagi meningkatkan lagi
keberkesanan dan kecekapan mereka.
• BHB dan anak-anak syarikatnya
mempunyai struktur organisasi dengan
tanggungjawab yang jelas. Pelbagai
jawatankuasa pengurusan ditubuhkan
oleh anak-anak syarikatnya yang
utama bagi membantu Lembaga
masing¬masing
dalam
amalan
perniagaan syarikat.
• BHB mempunyai wakil Lembaga dalam
setiap anak syarikat.
• Had kuasa, dasar
didokumenkan.
dan
prosedur
• Pelan perniagaan dan belanjawan
anak-anak syarikat utama diluluskan
oleh Lembaga masing-masing. Prestasi
dinilai berdasarkan belanjawan dan
penerangan diberikan secara berkala
kepada
Lembaga
masing-masing
dan Lembaga BHB jika terdapat
pertentangan yang ketara.
• Anak-anak syarikat mempunyai garis
panduan dalam melaksanakan sistem
pengambilan pekerja, pemberhentian,
penilaian prestasi dan latihan. Anakanak syarikat juga mempunyai
kod perilaku/ etika yang menerangkan
perlakuan yang diharapkan daripada
pekerja.
• Anak syarikat telah mengenalpasti
teknologi maklumat adalah kunci
kepada kejayaan perniagaan dan
telah mengambil keputusan untuk
mengganti sistem untuk memenuhi
keperluan perniagaan semasa dan
masa hadapan.
• Kumpulan
sedang
melaksanakan
penstrukturan semula operasi dan
sedang menyusun inisiatif yang strategik
untuk memperkemas perniagaan dan
operasi serta memanfaatkan sinergi
yang dijangkakan dalam Kumpulan.
• Pengurusan anak syarikat Takaful juga
mengambil langkah yang perlu untuk
menangani isu kawalan kewangan atau
risiko, yang mencakup pengukuhan
proses penutupan kewangan dan
proses penyesuaian dan mewujudkan
pasukan
yang
berdedikasi
bagi
menangani bidang perakaunan yang
khusus.
Statement on Internal Control
The Board of Directors (“Board”) recognises the importance of maintaining a sound system of internal control and risk management
practices to ensure good corporate governance. The Board affirms its responsibilities for reviewing the adequacy and integrity of the
Group’s system of internal control, including the review of its effectiveness.
As with any internal control system, the Group’s system of internal control is designed to manage rather than eliminate the risk of
failure to achieve business objectives. As such, the system can only provide reasonable but not absolute assurance against material
misstatement or loss.
The process of identifying, evaluating and managing the significant risks faced by the Group is an on-going process and includes reviewing
and updating the internal controls system when there are changes to business environment, operations or regulatory guidelines.
The banking and takaful subsidiaries’ statement on internal control are approved by their respective Audit Committee and Board.
Key internal control processes
• Risk Management
Notwithstanding the above, its banking
subsidiary has an established risk
management framework which provides
the foundation to manage the risks
associated with its banking business.
This includes the management of
credit risk, market risk, operational risk,
syariah risk and liquidity risk.
For the takaful subsidiary, the
management is taking steps to improve
its risk management process in the
areas ofoperational, financial and other
areas.
• Audit Committee
The Audit Committees of BHB and
its major subsidiaries review internal
control issues identified by the
respective internal auditors, external
auditors, regulatory authorities and
the management themselves, and
deliberate on the actions taken/
to be taken, and when necessary,
recommend further actions to address
the internal control issues. Where there
are specific issues, management of the
subsidiaries are invited to BHB Audit
Committee meeting for discussion and
deliberation.
The Internal Audit of its major
subsidiaries reports to the respective
subsidiaries’ Audit Committee. The
audit plans are reviewed and approved
by the respective subsidiaries’ Audit
Committees and the audit findings are
submitted to the Audit Committees for
review at their periodic meetings.
The internal audit departments conducts
self-assessment of their functions and
continuously improves themselves to
further enhance their effectiveness and
efficiency.
• BHB and its subsidiaries have
organisational structures with clear lines
of responsibility. Various management
committees are established by the
major subsidiaries to assist their
respective Boards in the conduct of the
companies’ business.
• BHB has Board representations in all
the subsidiaries.
• Limits of authority, policies
procedures are documented.
and
• The major subsidiaries’ business plans
and budgets are approved at their
respective Boards. The performance
is assessed against the budgets and
explanations are provided for significant
variances on a regular basis to the
respective Boards and BHB Board.
• There are guidelines within the
subsidiaries for hiring, termination,
performance appraisals and training.
Subsidiaries also have code of conduct/
ethics which express the conduct
expected of their employees.
• Subsidiaries within the Group recognise
that IT is key to their businesses
and have decided to replace various
systems to accommodate current and
future business requirements.
• The Group is undergoing operational
restructuring.
It is putting in place
strategic initiatives to streamline
businesses and operations and to take
advantage of anticipated synergies
within the Group.
• The takaful subsidiary’s management
is also taking measures to address the
financial control issues or risks, which
include strengthening the financial
closing process and reconciliation
process and setting dedicated team to
address specific accounting areas.
59
BHB is reviewing its group enterprise
risk management framework and
has engaged a professional service
provider to assist the review with the
objective of formalising the process of
identifying, evaluating, managing and
monitoring the significant risks faced
at the Group level.
• Internal Audit
The internal audit function for BHB
and its wholly-owned subsidiaries was
formerly carried out by the internal
audit department of BHB’s banking
subsidiary. With the new shareholding
structure at the banking subsidiary,
BHB is establishing an IA function
which will cover BHB and its whollyowned subsidiaries.
Maklumat Pematuhan Tambahan
1. Pembelian Balik Saham
BHB tidak membeli sebarang sahamnya sendiri pada tahun kewangan berakhir 30 Jun 2007.
2 Pelaksanaan Opsyen, Waran atau Urusan Sekuriti Boleh Tukar
Sepanjang tahun kewangan ini, tiada sebarang Skim Opsyen Syer Kakitangan (ESOS) BHB yang dilaksanakan. Setakat 30
Jun 2007, ESOS yang berikut tidak terpakai:
(i) 45,868,500 ESOS 1997/2007 dengan harga guna hak RM2.13; dan
(ii) 5,044,000 ESOS 1997/2007 dengan harga guna hak RM2.43.
ESOS di atas telah luput pada 21 Ogos 2007.
BHB tidak menerbitkan sebarang sekuriti boleh tukar pada tahun kewangan berakhir 30 Jun 2007.
3. American Depository Receipt (ADR) atau Global Depository Receipt (GDR)
BHB tidak menaja sebarang program ADR atau GDR pada tahun kewangan berakhir 30 Jun 2007.
60
4 Fi Bukan Audit
Jumlah fi bukan audit yang dibayar/perlu dibayar oleh BHB kepada juruaudit luar serta syarikat bersekutunya bagi tahun
kewangan berakhir 30 Jun 2007 tertera pada nota 29 pada muka surat 128 dalam Laporan Tahunan ini.
5 Jaminan Keuntungan
BHB tidak memberi sebarang jaminan keuntungan pada tahun kewangan.
6 Senarai Harta Tanah
Senarai harta tanah dinyatakan pada muka surat 147 hingga 156 dalam Laporan Tahunan ini.
7 Kontrak Penting
BHB dan kesemua anak syarikatnya tidak memeterai sebarang kontrak penting sepanjang tahun kewangan berakhir 30 Jun
2007 selain daripada yang tertera di bawah dan yang berkaitan dengan urusan perniagaan mereka yang lazim:
i) Perjanjian Jualan Saham (SSA) bertarikh 22 Disember 2005 antara BHB dan Permodalan Nasional Berhad (PNB) bagi
pembelian oleh BHB daripada PNB sebanyak 49 juta saham BIMBSEC yang mencakupi 49% kepentingan ekuiti dalam
BIMBSEC, dengan pertimbangan belian sebanyak RM54,453,202.65 melalui terbitan 46,942,416 saham BHB baru pada
harga terbitan RM1.16 bagi setiap saham BHB. Pada 21 April 2006, BHB dan PNB telah sepakat untuk menangguhkan
tarikh kepada empat (4) bulan lagi sehingga tarikh luput pada 22 Oktober 2006 bagi memenuhi syarat-syarat terdahulu
berkaitan SSA tersebut pada 22 April 2006. pada 20 Oktober 2006, BHB dan PNB sepakat untuk menangguhkan tarikh
penyempurnaan SSA yang asalnya berakhir pada atau sebelum 12 November 2006 hingga 1 Mac 2007.
ii) Perjanjian Utama Berarah (HOA) bertarikh 7 Januari 2006 antara BHB, Bank Islam dan Dubai Financial LLC (DF) bagi
membolehkan DF melanggan saham biasa baru dalam Bank Islam setara dengan 49% daripada jumlah keseluruhan
modal saham terbitan dan berbayar Bank Islam setelah selesai urusan langganan tersebut. HOA ini mencerminkan
persefahaman bersama antara DF, BHB dan Bank Islam apabila Bank Islam dan BHB bersetuju untuk memberikan DF
tempoh eksklusif untuk menelitinya selama 30 hari bermula dari tarikh penerimaan kelulusan dari BNM. HOA ini akan
tamat selepas 90 hari dari tarikh termeterainya perjanjian atau mana-mana tarikh sebagaimana dipersetujui secara
bertulis oleh kesemua pihak yang terlibat. HOA telah diambil alih oleh para pemegang saham dan Perjanjian Langganan
bertarikh 30 Jun 2006.
Additional Compliance Information
1 Share Buybacks
BHB did not purchase any of its own shares during the financial year ended 30 June 2007.
2 Options, Warrants or Convertible Securities Exercised
During the financial year under review, none of BHB’s Employees’ Share Option Scheme (ESOS) outstanding were exercised.
As at 30 June 2007, the following ESOS were outstanding:
i) 45,868,500 ESOS 1997/2007 with an exercise price of RM2.13; and
ii) 5,044,000 ESOS 1997/2007 with an exercise price of RM2.43.
The above ESOS expired on 21 August 2007.
BHB has not issued any convertible securities in respect of the financial year ended 30 June 2007.
3 American Depository Receipt (ADR) or Global Depository Receipt (GDR)
BHB has not sponsored any ADR or GDR programme in the financial year ended 30 June 2007.
4 Non-Audit Fees
The amount of non-audit fees paid/payable to external auditors and their affiliated companies by BHB for the financial year
ended 30 June 2007 is set out in note 29 on page 128 of this Annual Report.
6 List of Properties
The list of properties is set out on page 147 to 156 of the Annual Report.
7 Material Contracts
Save as disclosed below, neither BHB nor its subsidiaries have entered into any contracts which are material, during the
financial year ended 30 June 2007, other than contracts entered into in their ordinary course of business:
(i) Share Sale Agreement (SSA) dated 22 December 2005 between BHB and Permodalan Nasional Berhad (PNB) for the
acquisition by BHB from PNB of 49 million BIMBSEC Shares, representing 49% equity interest in BIMBSEC, for a
purchase consideration of RM54,453,202.65 to be satisfied via the issuance of 46,942,416 new BHB Shares at an issue
price of RM1.16 per BHB Share. On 21 April 2006, both BHB and PNB have mutually agreed to extend the date for
fulfilling the conditions precedent of the SSA which was due on 22 April 2006 for a further two (2) months to expire on
22 June 2006. On 21 June 2006, both BHB and PNB have mutually agreed to extend the date for fulfilling the conditions
precedent of the SSA which was due on 22 June 2006 for a further four (4) months to expire on 22 October 2006. On 20
October 2006, both BHB and PNB have mutually agreed to extend the completion date of the SSA which was originally
due on or before 12 November 2006 to 1 March 2007.
(ii) Indicative Heads of Agreement (HOA) dated 7 January 2006 between BHB, Bank Islam and Dubai Financial LLC (DF) for
DF to subscribe for new ordinary shares in Bank Islam equivalent to 49% in the total issued and paid-up share capital
of Bank Islam after the said subscription. The HOA reflects the mutual understanding between DF, BHB and Bank Islam
where Bank Islam and BHB agree to grant DF a 30-day exclusivity period for due diligence commencing from the date of
receipt of approval from BNM and the HOA will expire after 90 days from the date of signing or such other later or earlier
date as mutually agreed between the parties in writing. The HOA have now been superceded by the Shareholders and
Subscription Agreement dated 30 June 2006.
5 Profit Guarantee
There was no profit guarantees given by BHB during the financial year under review.
61
iii) Satu perjanjian bertarikh 2 Disember 2005 antara BHB dengan LTH memberikan pendahuluan pemegang sahamkepada
BHB sebanyak RM280 juta, yang telah digunakan sepenuhnya oleh BHB bagi melanggan saham biasa baru Bank
Islam bernilai RM1.00 setiap satu. Bank Islam merupakan anak syarikat milik penuh BHB. BHB harus membayar balik
pendahuluan tersebut dalam jangkamasa tidak melebihi satu dari tarikh penjualan dengan cara agihan dan terbitan saham
BHB selaras dengan cadangan terbitan hak boleh ditarik-balik sehingga 306,938,750 saham baru BHB pada harga terbitan
RM1.00 setiap satu saham terbitan hak, pada asas satu saham terbitan hak bagi setiap dua saham BHB sedia ada;
iv) Perjanjian Pemegang Saham bertarikh 30 Jun 2006 antara BHB, Bank Islam, LTH dan DF untuk melanggan 845,490,000
saham Bank Islam pada harga terbitan RM1.20 sesaham untuk pertimbangan jumlah tunai sebanyak RM1,014,588,000
merupakan anggaran sebanyak 49.0% daripada modal saham terbitan dan berbayar Bank Islam yang diperbesar selepas
penyempurnaan Cadangan Terbitan terhad oleh Bank Islam.
v) Perjanjian Langganan kepada DF bertarikh 30 Jun 2006 antara BHB, Bank Islam dan DF berhubung dengan cadangan
terbitan terhad sebanyak 690,196,000 saham baru Bank Islam kepada DF pada harga terbitan RM1.20 sesaham
pertimbangan jumlah tunai sebanyak RM828,235,200.00 yang mewakili 40% daripada modal saham dan berbayar Bank
Islam yang diperbesar selepas Cadangan Terbitan Terhad oleh Bank Islam selesai.
vi) Perjanjian Langganan kepada LTH bertarikh 30 Jun 2006 antara BHB, Bank Islam dan LTH berhubung dengan cadangan
terbitan terhad sebanyak 155,294,000 saham baru Bank Islam kepada LTH pada harga terbitan RM1.20 setiap saham
Bank Islam dengan pertimbangan tunai berjumlah RM186,352,800.00 mewakili 9% daripada modal saham terbitan dan
berbayar Bank Islam yang diperbesar setelah Cadangan Terbitan Terhad oleh Bank Islam selesai.
62
8
Penggunaan Sekatan dan/atau Penalti
Sepanjang tahun kewangan ini BHB atau semua anak syarikatnya, Pengarah atau pihak Pengurusan tidak dikenakan
sebarang sekatan dan/atau penalty hasil daripada sebarang pelanggaran peraturan/garis panduan/perundangan oleh manamana pihak berkuasa.
9
Variasi dalam keputusan
Tidak terdapat variasi dalam keputusan (perbezaan sebanyak 10% atau lebih) daripada sebarang keputusan ramalan/
anggaran/jangkaan keuntungan tidak teraudit yang diumumkan. Tiada sebarang pengumuman mengenai ramalan, jangkaan
atau keuntungan tidak teraudit bagi tahun kewangan berakhir 30 Jun 2007.
10 Penggunaan Hasil yang diperoleh semasa usaha korporat dijalankan
Sepanjang tempoh tahun kewangan ini usaha pengumpulan dana yang dilakukan oleh BHB adalah seperti berikut:
i)
Hasil yang berjumlah RM281,482,480 daripada terbitan hak yang boleh ditarik balik melibatkan, antara lain, terbitan
281,482,480 saham biasa baru pada harga RM1.00 sesaham biada digunakan seperti berikut:-
Keterangan
Penggunaan yang Diluluskan
RM(‘juta)
Penggunaan Sebenar
RM(‘juta)
Bayaran semula bagi pendahuluan pemegang saham
Bayaran bagi anggaran perbelanjaan Cadangan
280.00
1.48
280.00
1.48
Jumlah hasil
281.48
281.48
ii) Pada 9 April 2007, BHB menerbitkan saham biasa baru dengan nilai RM1.00 setiap satu dalam BHB dengan harga
terbitan RM1.16 sesaham BHB bagi penyelesaian bagi cadangan perolehan oleh BHB sebanyak 49 juta saham biasa
dengan harga RM1.00 setiap satu dalam BIMBSEC yang mewakili 49% kepentingan ekuiti dalam BIMBSEC, daripada
PNB bagi pertimbangan pembelian kira-kira RM54.45 juta.
Pelaksanaan usaha korporat di atas (i) & (ii) sudah diluluskan oleh Para Pemegang Saham BHB pada 14 Jun 2006.
(iii) An agreement dated 2 December 2005 between BHB and LTH, for LTH to extend a shareholder’s advance to BHB
amounting to RM280 million, which was fully drawndown by BHB to subscribe for new ordinary shares of RM1.00 each
in our wholly-owned subsidiary, Bank Islam. The advance is to be repaid by BHB no later than one year from the date of
draw down through allotment and issuance of BHB shares in accordance with the proposed renounceable rights issue
of up to 306,938,750 new BHB shares at an issue price of RM1.00 per Rights share, on the basis of one Rights share for
every two existing BHB shares.
(iv) Shareholders’ Agreement dated 30 June 2006 between BHB, Bank Islam, LTH and DF to subscribe for 845,490,000 new
Bank Islam Shares at an issue price of RM1.20 per Bank Islam Share for a total cash consideration of RM1,014,588,000
representing approximately 49.0% of the enlarged issued and paid-up share capital of Bank Islam after the completion
of the Proposed Restricted Issue by Bank Islam;
(v) Subscription Agreement to DF dated 30 June 2006 between BHB, Bank Islam and DF in relation to the proposed
restricted issue of 690,196,000 new Bank Islam shares to DF at an issue price of RM1.20 per Bank Islam share for a total
cash consideration of RM828,235,200.00 representing 40.0% of the enlarged issued and paid-up share capital of Bank
Islam after the completion of the Proposed Restricted Issue by Bank Islam.
(vi) Subscription Agreement to LTH dated 30 June 2006 between BHB, Bank Islam and LTH in relation to the proposed
restricted issue of 155,294,000 new Bank Islam shares to LTH, at an issue price of RM1.20 per Bank Islam Share for a
cash consideration of RM186,352,800.00 representing approximately 9.0% of the enlarged issued and paid up capital
of Bank Islam after the completion of the Proposed Restricted Issue by Bank Islam.
9 Variation in Results
There was no variation in results (differing by 10% or more) from any profit estimation forecast/projection unaudited
results announced. There was no profit forecast, projection or unaudited results made or announced for financial year
ended 30 June 2007.
10 Utilisation Proceeds Raised during Corporate Exercise
During the financial year, the fund raising exercise undertaken by BHB are as follows:i)
The proceeds totaling RM281,482,480 from the renounceable rights issue involving, inter alia, the issue of 281,482,480
new ordinary shares at the price of RM1.00 per ordinary share were utilised as follows:-
Description
Approved Utilisation
RM (‘million)
Actual Utilisation
RM (‘million)
Repayment of shareholder’s advance
Payment of estimated expenses of the Proposals
280.00
1.48
280.00
1.48
Total proceeds
281.48
281.48
ii) On 9 April 2007, BHB issued 49,942,416 new ordinary shares of RM1.00 each in BHB at an issue price of RM1.16
per BHB share as settlement for the proposed acquisition by BHB of 49 million ordinary shares of RM1.00 each in
BIMBSEC representing 49% equity interest in BIMBSEC, from PNB for a purchase consideration of approximately
RM54.45 million.
The above corporate exercise (i) & (ii) was approved by the Shareholders of BHB on 14 June 2006.
8 Imposition of Sanctions and/or Penalties
There were no sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or Management arising
from any significant breach of rules/guidelines/legislations by the relevant regulatory bodies during the financial year
under review.
63
11 Mandat Am
Pada AGM yang lepas, BHB telah memperoleh mandate am daripada para pemegang sahamnya untuk membenarkan
BHB dan/ atau anak-anak syarikat menjalankan urusan perniagaan biasa mereka dengan memasuki urusniaga berulang
dalam bentuk hasil atau perniagaan yang mana perlu bagi operasi hariannya, dengan mana-mana pihak berkaitan. Mandat
ini terpakai selagi termanya tidak memihak kepad pihak berkaitan berbanding yang tersedia kepada masyarakat umum
dan tidak memudaratkan para pemegang saham minority (RRPT). Mandat RRPT sah sehingga tamatnya AGM BHB yang
akan datang Lembaga Pengarah bercadang memperbaharui mandate RRPT pada AGM BHB akan datang. Mandat ini, jika
diluluskan oleh para pemegang saham, akan sah sehingga AGM BHB tahun beikutnya.
12 Urusniaga Berulang Pihak Berkaitan
Bentuk urus niaga**
Pihak Berkaitan/
Pengarah dan/ atau pemegang saham
Aktiviti ASAS
utama yang berminat#
• Fi pembrokeran kena
dibayar kepada BHB
64
LTH
LTH terlibat terutamanya dalam BHB
menggalakkan ahli menunaikan
ibadah haji ke Mekah selain
pengurusan deposit dan pelaburan
mereka.
LTH merupakan pemegang saham utama
383.5 BHB dengan pemegang saham
sebanyak 41.92%.
Nilai
urusniaga
sebenar
(RM’000)*
383.5
Tan Sri Samsudin bin Osman ialah Pengarah
Nomini LTH dalam BHB.
Datuk Ismee bin Ismail adalah Pengarah
Urusan Kumpulan dan Ketua Pegawai
Eksekutif LTH dan juga Pengarah BHB
(tidak mempunyai pegangan saham secara
terus/tidak terus dalam LTH).
• Sewa premis pejabat kena
dibayar oleh BHB
dibayar kepada BHB
2,259.6
PNB
PNB terlibat terutamanya dalam
pegangan pelaburan dan perkhidmatan
rundingan pengurusan.
PNB merupakan pemegang saham utama
191.7 BHB dengan pegangan saham
sebanyak 14.69%.
191.7
Dato’ Dr Abdul Halim bin Ismail, Encik Salih
Amaran bin Jamian dan Datuk Burhanuddin
bin Ahmad Tajuddin ialah Pengarah Nomini
PNB dalam BHB.
dibayar kepada BHB
Amanah saham Bumiputra (ASB)
ASB ialah skim dana amanah saham
yang diasaskan oleh PNB..
ASB merupakan pemegang saham utama
BHB dengan pegangan saham 9.54%
dicagar dengan Amanah Raya Nominees
(Tempatan) Sdn Bhd.
644.0
dibayar kepada BHB
Kumpulan Wang Simpanan Pekerja
(KWSP)
KWSP merupakan badan berkanun
ditubuhkan
di
bawah
Akta
KWSPBHB 1991 terutamanya untuk
pengurusan dana wang simpanan.
ASB ialah anak syarikat milik penuh PNB
546.2
• Sewa premis pejabat
oleh BHB ±
KWSP merupakan pemegang saham utama
BHB dengan pegangan saham sebanyak
5.57%
276.0
11 General Mandate
BHB had, at the last AGM obtained a general mandate from its shareholders to allow BHB and/or its subsidiaries in their
normal course of business, to enter into recurrent transactions of a revenue or trading nature with related parties which
are necessary for its day to day operations, on terms not more favourable to the related party than those available to
the general public and not to the detriment of the minority shareholders (RRPT). The RRPT Mandate is valid until the
conclusion of the forthcoming AGM of BHB. The Board proposes to seek renewal of the RRPT Mandate at the forthcoming
AGM of the Company. This Mandate, if approved by shareholders, would be valid until the conclusion of the next AGM of
the Company.
12 Recurrent Related Party Transaction
Nature of Transactions**
Related Party/
Interested Director and/
Principal Activities
or Major Shareholder#
• Brokerage fees payable to
BHB
LTH
LTH is principally involved in
promoting members’ pilgrimage to
Makkah, as well as managing their
deposits and investment.
LTH is a major shareholder of BHB with
41.92% shareholding.
Actual
Transactions
Value
(RM’000)*
383.5
Tan Sri Samsudin bin Osman is a nominee
director of LTH in BHB.
65
• Rental of office premises
payable by BHB
2,259.6
PNB
PNB is principally involved in
investment holding and provision of
management consultancy services.
PNB is a major shareholder of BHB with
14.69% shareholding.
BHB
Amanah Saham Bumiputra (ASB)
ASB is a fund scheme initiated under
PNB.
ASB is a major shareholder of BHB with
9.54%, registered under Amanah Raya
Nominees (Tempatan) Sdn Bhd.
644.0
BHB
Employee’s Provident Fund Board
(EPF)
EPF is a statutory body formed under
EPF ACT 1991 principally involved in
provident fund.
ASB is a wholly-owned subsidiary of PNB.
546.2
BHB
payable by BHB ±
191.7
Dato’ Dr Abdul Halim bin Ismail, Encik
Salih Amaran bin Jamiaan and Datuk
Burharuddin bin Ahmad Tajuddin are
nominee directors of PNB in BHB.
EPF is a major shareholder of BHB with
5.57% shareholding.
276.0
Datuk Ismee bin Ismail is the Group
Managing Director and Chief Executive
Officer of LTH and also a Director of BHB
(has no direct/indirect shareholdings in LTH).
Bentuk urus niaga**
Pihak Berkaitan/
Pengarah dan/ atau pemegang saham
Aktiviti ASAS
utama yang berkepentingan#
• Fi pengurusan portfolio
STMB kepada BHB
STMB
STMB terlibat secara khusus dalam
perniagaan takaful keluarga dan
takaful am.
Dato’ Noorazman bin A. Aziz merupakan
seorang Pengarah BHB dan juga Pengarah
STMB.
dibayar oleh BHB
dibayar kepada BHB
BIMBSEC
BIMB Securities terlibat secra
khusus dalam aktiviti pembrokeran
saham dan berkaitan berdasarkan
prinsip Syariah.
66
550.0
8,139.0
• Fi pengurusan portfolio
kena dibayar kepada BHB
• Sewa sistem komputer
kepada BHB±
Nilai
urusniaga
sebenar
(RM’000)*
Bank Islam
terlibat secara khusus dalam
perbankan Islam dan aktiviti
berdasarkan prinsip Syariah.
Dato’ Dr Abdul Halim bin Ismail merupakan
seorang Pengarah BHB juga Pengarah
Eksekutif BSSB.
252.6
Datuk Burhanuddin bin Ahmad Tajuddin
merupkan seorang Pengarah BHB dan juga
Pengarah BSSB.
3.4
Dato’ Noorazman bin A. Aziz, Dato’ Mohd
Bakke bin Salleh, Datuk Ismee bin Ismail,
Zaiton Binti Mohd Hassan dan Zahari @
Mohd Zin bin Idris merupakan Pengarah
BHB dan mereka juga ialah Pengarah
BIMB.
28,145.0
• Sewa kenderaan kena
dibayar kepada BHB±
88.0
12.0
399.0
• Fi pengurusan kena
dibayar oleh BHB±
325.0
* Nilai transaksi sebenar diperoleh daripada Laporan Tahunan tahun kewangan berakhir 30 Jun 2007
# Fi pihak pengurusan merupakan fi dibayar kepada BIMBSEC Aset Management Sdn Bhd bagi dana yang ditempatkan/ dilaburkan dengan
mereka oleh syarikat dalam Kumpulan terutamanya BHB dan Bank islam.
+ Jenis transaksi – transaksi baru
**Jenis transaksi – transaksi sedia ada
Nature of Transactions**
Related Party/
Interested Director and/
Principal Activities
or Major Shareholder#
• Portfolio management fees
payable to BHB
STMB
STMB is principally involved in family
and general takaful business.
Dato’ Noorazman A. Aziz is a Director of
BHB and also a Director of STMB.
payable by BHB
BHB
550.0
8,139.0
BIMBSEC
BSSB is principally involved in the
provision of stock broking and
related activities based on the
principles of Shariah.
• Portfolio management fees
payable to BHB
• Rental of computer system
payable to BHB±
Actual
Transactions
Value
(RM’000)*
252.6
Datuk Burhanuddin Ahmad bin Tajuddin
is Director of BHB and also a Director of
BIMBSEC.
3.4
Dato’ Noorazman bin A. Aziz, Dato’ Mohd
Bakke bin Salleh, Datuk Ismee Ismail, Zaiton
binti Mohd Hassan and Zahari @ Mohd Zin
bin Idris are Directors of BHB and they are
also Directors of Bank Islam.
28,145.0
• Rental of motor vehicle
payable to BHB±
88.0
payable to BHB±
12.0
payable by BHB±
399.0
• Management fees payable
by BHB±
325.0
* The actual transaction value is extracted from the Annual Report for the financial year ended 30 June 2007.
# Management fees are fees payable to BIMSEC Asset Management Sdn Bhd for the fund placed/invested with them by our Group
Companies especially BHB and Bank Islam
± Nature of transaction – new transactions
**Nature of transactions – existing transaction
67
Bank Islam
BIMB is principally involved in
the provision of Islamic banking
and related activies based on the
principles of Shariah.
Dato’ Dr Abdul Halim bin Ismail is a Director
of BHB and also an Executive Director of
BIMBSEC.
Sorotan 2007
2007 Highlights
68
08 | 06 | 2007
PELANCARAN TANAH WAKAF BAGI PEMBINAAN
MENARA MAIWP
LAUNCH OF WAKAF LAND FOR CONSTRUCTION OF
MENARA MAIWP
Perdana Menteri, Yang Amat Berhormat Dato’ Seri
Abdullah Ahmad Badawi dengan rasminya telah
melancarkan projek bagi memajukan Tanah Wakaf di
Lot 168/169 yang terletak di sepanjang segi tiga emas
di Jalan Perak, Kuala Lumpur. Upacara pecah tanah
itu menandakan bermulanya fasa pembinaan Menara
Majlis Agama Islam Wilayah Persekutuan (MAIWP) yang
bernilai RM151 juta. Bangunan pejabat 34-tingkat ini
dijadualkan siap pada tahun 2010, dengan Bank Islam
sebagai penyewa utama. Tanah Wakaf seluas 0.48
hektar ini merupakan harta pemberian yang diwakafkan
oleh seorang hartawan India Muslim, iaitu Allahyarham
Ahmad Dawjee Dadabhoy. Sehingga kini, tanah ini
bernilai RM34 juta dan dimajukan oleh TH Technologies
Sdn Bhd, anak syarikat milik penuh LTH.
Prime Minister, YAB Dato’ Seri Abdullah Ahmad Badawi
officially launched a project for the development of Wakaf
Land at Lot 168/169 located along the golden triangle in
Jalan Perak, Kuala Lumpur. The ground-breaking ceremony
marks the beginning of the construction phase of a RM151
million Menara Majlis Agama Islam Wilayah Persekutuan
(MAIWP). The 34-storey office building is scheduled for
completion in 2010, with Bank Islam as the anchor tenant.
The 0.48 hectar Wakaf Land is a dedicated property willed
by an Indian Muslim merchant, Allahyarham Ahmad Dawjee
Dadabhoy. To date, the land is valued at RM34 million and
being developed by TH Technologies Sdn Bhd, a whollyowned subsidiary of LTH.
Sorotan 2007
2007 Highlights
69
07 | 09 | 2007
LAWATAN IMAM DARI NEGARA CHINA
BANK ISLAM MEncatat KEUNTUNGAN TERTINGGI
DALAM TEMPOH 24 TAHUN
Satu kumpulan Imam Muda dari Negara China melawat
STMB untuk menimba pengetahuan, mempelajari dan
mendalami ilmu mengenai kewangan Islam terutamanya
tentang takaful. Penerangan mengenai konsep dan
sistem Takaful di Malaysia telah dikendalikan oleh
Jabatan Syariah STMB.
Visit by Young Imams from China
A group of Young Imams from China visited STMB to
gain knowledge, learn and explore more about Islamic
finance especially takaful. The presentation on concept
and system of Takaful in Malaysia was conducted by
STMB’s Syariah Department.
Bank Islam mengumumkan keuntungan sebelum zakat
dan cukai tertingginya sebanyak RM255.50 juta daripada
hasil sebanyak RM1.03 bilion, berbanding dengan
kerugian sebelum zakat dan cukai sebanyak RM1.28
billion daripada hasil sebanyak RM948.9 juta pada tahun
kewangan 2006. Prestasi cemerlang ini disebabkan
pemulihan operasi dan program pemulihan pinjaman
Bank yang intensif.
BANK ISLAM RECORDS HIGHEST PROFIT IN 24
YEARS
Bank Islam announced its highest profit before zakat
and tax of RM255.50 million on revenue of RM1.03
billion compared with a loss before zakat and tax of
RM1.28 billion on revenue of RM948.9 million in financial
year 2006. The strong performance was attributable to
operational turnaround and the Bank’s intensive loanrecovery programme.
28 | 06 | 2007
Sorotan 2007
2007 Highlights
70
21 | 08 | 2007
PELANCARAN IDENTITI KORPORAT BARU
LAUNCH OF NEW CORPORATE IDENTITY
Menteri di Jabatan Perdana Menteri, iaitu Yang Berhormat
Dato’ Dr. Abdullah Md Zin memperkenalkan identiti baru
korporat Bank Islam pada majlis rasmi pelancaran yang
diadakan di cawangan Bank Islam Shah Alam yang telah
diubah suai. Upacara yang bersejarah ini juga menyaksikan
menteri berkenaan melancarkan cawangan Bank Islam
Shah Alam yang telah dibentuk semula dan laman web
korporat Bank yang baru. Identiti baru ini adalah hasil
daripada usaha Penjenamaan Semula Bank Islam, iaitu
sebahagian daripada Pelan Pemulihan Bank.
Minister at the Prime Minister’s Office Yang Berhormat Dato’
Dr. Abdullah Md Zin unveiled Bank Islam’s new corporate
identity at an official launch ceremony held at the Bank’s
remodeled branch in Shah Alam. The historical event also saw
the minister launching the Shah Alam branch and Bank Islam’s
revamped corporate website. The new identity is a result of
Bank Islam’s Rebranding Exercise, which is part of the Bank’s
Turnaround Plan.
Sorotan 2007
2007 Highlights
71
KERJASAMA STRATEGIK BERSAMA EUROPEAN
ISLAMIC INVESTMENT BANK
STRATEGIC COLLABORATION
ISLAMIC INVESTMENT BANK
WITH
EUROPEAN
Bank Islam menjalin kerjasama strategik dengan
European Islamic Investment Bank PLC (EIIB) pada
17 September 2007. Perkongsian ini adalah bukti
penglibatan terus bank yang jelas dalam pasaran
Eropah. Perkongsian ini menyaksikan Bank Islam
mendapat akses ke UK dan Eropah melalui EIIB, yang
berpusat di London, sementara EIIB akan mendapat
“tapak” bagi pengembangannya di Asia. Memorandum
Persefahaman bagi kerjasama strategik ini dilakukan
secara rasmi pada majlis menandatangani perjanjian di
Kuala Lumpur. Pengarah Urusan Bank Islam, Dato’ Zukri
Samat menandatangani perjanjian bagi pihak Bank,
sementara EIIB diwakili oleh Pengarah Urusan mereka,
Mr Jon Weguelin.
Bank Islam entered into a strategic collaboration with
the European Islamic Investment Bank PLC (EIIB) on 17
September 2007. The partnership is a testimony of the
bank’s immediate and significant presence in the European
market. The partnership sees Bank Islam gaining access
to the UK and Europe through EIIB, which is based in
London, while EIIB will gain a “foothold” for its expansion in
Asia. The Memorandum of Understanding for the strategic
collaboration was formalised at a signing ceremony in Kuala
Lumpur. Bank Islam’s Managing Director Dato’ Zukri Samat
signed for the Bank, while EIIB was represented by its
Managing Director, Mr John Weguelin.
17 | 09 | 2007
Penyata Kewangan
Financial Statements
73 Director’s Report
78 Statement by Directors
79 Report of the Shariah Supervisory Council
80 Statutory Declaration
81 Report of the Auditors
83 Balance Sheets
84 Income Statements
85 Consolidated Statements of Changes in Equity
88 Statements of Changes in Equity
89 Cash Flow Statements
91 Notes to the Financial Statements
Director’s Report
for the financial year ended 30 June 2007
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company
for the year ended 30 June 2007.
Principal activities
The Company is principally engaged as an investment holding company with business transacted in accordance with Islamic
principles, whilst the principal activities of the subsidiaries are as stated in Note 13 to the financial statements.
There has been no significant change in the nature of these activities during the financial year.
Results
GroupCompany
RM’000RM’000
Profit for the year attributable to:
Shareholders of the Company
Minority interest
799,322
112,924
18,353
-
912,246
18,353
There were no material transfers to or from reserves and provisions during the year under review.
Dividends
There was no dividend paid during the year. The final ordinary dividend recommended by the Directors in respect of the year
ended 30 June 2007 is 2.0 sen per share less tax at 26% totalling to RM13,192,571 (1.5 sen net per share).
Bad and doubtful financing
Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to
ascertain that actions had been taken in relation to the writing off of bad financing and the making of provisions for doubtful
financing, and have satisfied themselves that all known bad financing have been written off and adequate provisions had been
made for bad and doubtful financing.
At the date of this report, the Directors are not aware of any circumstances that would render the amount written off for bad
financing, or amount of the provision for doubtful financing in the financial statements of the Group and of the Company,
inadequate to any substantial extent.
Reserves and provisions
73
Director’s Report
Current assets
Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to
ascertain that any current assets, other than financing, which were unlikely to be realised in the ordinary course of business at
their values as shown in the accounting records of the Group and of the Company have been written down to their estimated
realisable value.
At the date of this report, the Directors are not aware of any circumstances that would render the values attributed to the
current assets in the financial statements of the Group and of the Company to be misleading.
Valuation methods
At the date of this report, the Directors are not aware of any circumstances which have arisen which render adherence to the
existing methods of valuation of assets or liabilities of the Group and of the Company to be misleading or inappropriate.
Contingent and other liabilities
At the date of this report, there does not exist:
74
(a) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year and which
secures the liabilities of any other person, or
(b) any contingent liabilities in respect of the Group and of the Company that has arisen since the end of the financial year
other than those incurred in the ordinary course of the banking business.
No contingent or other liability of any company in the Group has become enforceable, or is likely to become enforceable within
the period of twelve months after the end of the financial year which, in the opinion of the Directors, will or may substantially
affect the ability of the Group and of the Company to meet its obligations as and when they fall due.
Change of circumstances
At the date of this report, the Directors are not aware of any circumstances, not otherwise dealt with in this report or the
financial statements that would render any amount stated in the financial statements of the Group and of the Company
misleading.
Items of an unusual nature
Other than as disclosed in the financial statements, the results of the operations of the Group and of the Company for the
financial year were not, in the opinion of the Directors, substantially affected by any item, transaction or event of a material
and unusual nature.
There has not arisen in the interval between the end of the financial year and the date of this report any item, transaction
or event of a material and unusual nature, likely to affect substantially the results of the operations of the Group and of the
Company for the current financial year in which this report is made.
Director’s Report
Employee Share Option Scheme
The Company’s Employee Share Option Scheme (“ESOS”) is governed by the by-laws which were approved by the shareholders
of the Court-convened Extraordinary General Meeting held on 31 May 1997 and became effective on 21 August 1997 for a
period of five years. At an Extraordinary General Meeting held on 20 August 2002, the shareholders of the Company approved
the extension of the ESOS for a further period of five years to 21 August 2007.
The main features of the ESOS are:
(a) Eligible person are employees of the Company who have been confirmed in writing and are in the employment of the
Company including full-time Executive Directors.
(b) The total number of shares to be offered shall not exceed 10% of the issued and paid up share capital of the Company at
any point of time during the tenure of ESOS.
(c) The option price for each share shall be the average of the mean market quotation of the shares of the Company in the
daily official list issued by Bursa Malaysia for the five trading days preceding the date of the offer, or the par value of the
share of the Company of RM1, whichever is higher.
(e) The movement in the options to take up unissued new ordinary shares of RM1 each and the option price are as follows:
Option priceAtAt
RM
1.7.2006
Granted Exercised
30.6.2007
2.13
2.43
45,868,500
5,044,000
Directors
Directors who served since the date of the last report are:
Tan Sri Samsudin bin Osman (appointed on 1.2.2007)
Dato’ Noorazman bin Abd. Aziz
Datuk Hairuddin bin Mohamed
-
-
-
-
45,868,500
5,044,000
75
(d) The number of shares under the option, the option price and the method of exercise of the options may be adjusted as a
result of any alteration of the capital structure of the Company by way of capitalisation of profits or reserve, right issues
or reduction of capital, if any, made by the Company while an option remains unexercised.
Director’s Report
The holdings and deemed holdings in the ordinary shares of the Company and of its related corporations (other than whollyowned subsidiaries) of those who were Directors at year end as recorded in the Register of Directors’ Shareholdings are as
follows:Number of ordinary shares of RM1 each
AtAt
1.7.2006AcquiredSold 30.6.2007
Company
1,400
-
-
1,400
Number of options over ordinary shares
of RM1 each
Exercise priceAtAt
RM
1.7.2006
Granted Exercised 30.6.2007
Dato’ Dr. Abdul Halim Ismail
2.13 250,000
-
-
250,000
None of the other Directors holding office at 30 June 2007 had any interest in the ordinary shares of the Company and of its
related corporations during the financial year.
76
Directors’ benefits
Since the end of the previous financial year, no Director of the Company has received nor become entitled to receive any
benefit (other than benefits included in the aggregate amount of emoluments received or due and receivable by the Directors
as shown in the financial statements or the fixed salary of a full time employee of the Company) by reason of a contract made
by the Company or a related corporation with the Director or with a firm of which the Director is a member, or with a company
in which the Director has a substantial financial interest.
There was no arrangement during and at the end of the financial year which had the object of enabling Directors of the
Company to acquire benefits by means of the acquisition of share in or debentures of the Company or any other body
corporate, other than share options granted pursuant to the ESOS.
Issue of shares and debentures
During the financial year, the Company issued a total of 328,424,896 new ordinary shares of RM1 each which comprised as
follows:
(a) pursuant to the Company’s rights issue, 281,482,480 new ordinary shares were issued at par for a cash consideration of
approximately RM281.5 million for working capital purposes; and
(b) pursuant to the Company’s acquisition of 49% interest in BIMB Securities Sdn Bhd, 46,942,416 new ordinary shares of
RM1 each were issued at a price of RM1.16 per share for a total consideration of approximately RM54.4 million.
There were no other changes in the issued and paid-up capital of the Company during the financial year.
Options granted over unissued shares
No options were granted to any person to take up unissued shares of the Company during the year.
Director’s Report
Auditors
The auditors, Messrs KPMG Desa Megat & Co., have indicated their willingness to accept re-appointment.
Signed on behalf of the Board of Directors in accordance with a resolution of the Directors:
…………………………………………………………
…………………………………………………………
Date: 29 October 2007
Kuala Lumpur,
77
Statement by Directors
pursuant to Section 169(15) of the Companies Act, 1965
In the opinion of the Directors, the financial statements set out on pages 83 to 146 are drawn up in accordance with the
provisions of the Companies Act, 1965 and applicable approved accounting standards for entities other than private entities
issued by the Malaysian Accounting Standards Board as modified by Bank Negara Malaysia Guidelines so as to give a true
and fair view of the state of affairs of the Group and of the Company as at 30 June 2007 and of the results of their operations
and cash flows for the year ended on that date.
Signed in accordance with a resolution of the Directors:
…………………………………………………………
78
…………………………………………………………
Kuala Lumpur,
Report of the Shariah Supervisory Council
The Shariah Supervisory Council (“SSC”) was established under the provision of Section 3(5)(b) of the Islamic Banking Act
1983 to advise the Group particularly on the operation of its banking business in order to ensure that they do not involve any
element which is not approved by Islam.
The SSC takes the views of Shariah Committees of relevant authorities such as Bank Negara Malaysia and Securities
Commission from time to time on issues relating to the industry.
The duties and responsibilities of SSC are to review, appraise and advise the Directors on the operations of the Group and of
the Company’s business in order to ensure that they do not involve any element which is not approved by Islam.
The roles of SSC in monitoring the Group’s activities are as follows: a) Review the products and services to ensure conformity with the Shariah requirements.
b) Deliberate on Shariah issues pertaining to the day to day operations of the Group and of the Company and provide advice
accordingly.
c) Form opinions on the operations of the Group and of the Company on whether they are Shariah compliant.
d) Educate on muamalat or Islamic transactions based on Shariah principles.
79
The roles of SSC with respect to zakat are as follows: -
a) Review and approve the computation of zakat payable for the year.
b) Advise on the distribution of zakat to the appropriate ‘asnaf’.
We, Mohd. Bakir Mansor and Dr. Ahmad Shahbari @ Sobri Salamon, being two of the members of Shariah Supervisory
Council of BIMB Holdings Berhad, do hereby confirm on behalf of the Council, that in our opinion, the operations of the Group
and of the Company for the year ended 30 June 2007 have been conducted in conformity with the Shariah principles.
On behalf of the Council:
…………………………………………………………
Mohd. Bakir Mansor
…………………………………………………………
Dr. Ahmad Shahbari @ Sobri Salamon
Kuala Lumpur,
Statutory Declaration
pursuant to Section 169(16) of the Companies Act, 1965
I, Rusman Amir Zaihan, the officer primarily responsible for the financial management of BIMB Holdings Berhad, do solemnly
and sincerely declare that the financial statements set out on pages 83 to 146 are, to the best of my knowledge and belief,
correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of
the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the above named in Kuala Lumpur on 29 October 2007
…………………………………………….
Rusman Amir Zaihan
Before me:
80
Report of the Auditors
to the members of BIMB Holdings Berhad
We have audited the financial statements set out on pages 83 to 146. The preparation of the financial statements is the
responsibility of the Company’s Directors.
It is our responsibility to form an independent opinion, based on our audit, on the financial statements and to report our opinion
to you, as a body, in accordance with Section 174 of the Companies Act, 1965 and for no other purpose. We do not assume
responsibility to any other person for the content of this report.
We conducted our audit in accordance with approved Standards on Auditing in Malaysia. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by the Directors, as well as
evaluating the overall financial statements presentation. We believe our audit provides a reasonable basis for our opinion.
In our opinion:
ii) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements of the Group
and of the Company; and
(b) the accounting and other records and the registers required by the Companies Act, 1965 to be kept by the Company have
been properly kept in accordance with the provisions of the said Act.
The subsidiaries in respect of which we have not acted as auditors are identified in Note 13 to the financial statements and we
have considered their financial statements and the auditors’ reports thereon.
We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Company’s financial
statements are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial
statements and we have received satisfactory information and explanations required by us for those purposes.
The audit report on the financial statements of the subsidiaries were not subject to any qualification and did not include any
comment made under subsection (3) of Section 174 of the Act.
81
(a) the financial statements are properly drawn up in accordance with the provisions of the Companies Act, 1965 with such
modifications and exceptions as have been determined by Bank Negara Malaysia pursuant to subsection 19 of Section 169
of the said Act and applicable approved accounting standards for entities other than private entities issued by the Malaysian
Accounting Standards Board so as to give a true and fair view of:
i) the state of affairs of the Group and of the Company at 30 June 2007 and the results of their operations and cash flows
for the year ended on that date; and
Report of the Auditors
to the members of BIMB Holdings Berhad
Without qualifying our opinion, we wish to highlight on the following matter:There were numerous un-reconciled differences in the accounting records of a subsidiary, Syarikat Takaful Malaysia Berhad
(“STMB”), in the previous financial year which resulted in the issuance of a qualified audit opinion on the consolidated financial
statements for the year ended 30 June 2006. Since then, STMB has made great efforts which included engaging third party
consultants, to identify and clear the numerous reconciling items in the accounting records and made adjustments to the
financial statements. As explained in Note 44 to the financial statements, given the continued growth of the STMB’s business
operations over the years which resulted in the significant volume of transactions that had to be manually processed, it was
impracticable within the time constraint for financial statements issuance to determine the period-specific effects that some of
these adjustments might have on the previous years’ financial statements.
Given the impracticality, the Group has incorporated the necessary adjustments against the opening accumulated losses,
minority interests and General Takaful and Family Takaful participants’ funds as at 1 July 2006. RM2.9 million, RM1.3 million and
RM2.8 million have been credited to the opening accumulated losses, minority interests and General Takaful participants’ fund,
respectively. An amount of RM41.4 million has been charged to the opening Family Takaful participants’ fund.
82
KPMG Desa Megat & Co.Adrian Lee Lye Wang
Firm Number: AF 0759
Partner
Chartered Accountants
Approval Number: 2679/11/07(J)
Kuala Lumpur,
Balance Sheets
as at 30 June 2007
GroupCompany
2007
2006
2007
2006
NoteRM’000RM’000RM’000RM’000
Restated
6,011,713
287,459
2,882,378
59,476
361,550
3,460,097
181,184
8,433,287
12,902
156,426
43,847
396,639
149
171,146
3,110,827
279,176
2,199,477
143,828
8,601,387
8,020
93,360
18,254
459,856
149
184,011
2,812,628
20,968
11,812
100,000
242
214
1
,301,686
149
399
-
Total Assets
22,627,226
17,742,000
1,460,616
17,388,633
14,148,593
-
Liabilities
Deposits from customers
17
Deposits and placements of banks
and other financial institutions
18
Bills and acceptances payable
Other liabilities
19
Amount due to a corporate shareholder 21
Provision for zakat
Deferred tax liabilities
10
General Takaful and Family
Takaful liabilities
16
General Takaful and Family
Takaful participants’ funds
16
33,991
109,189
317,939
7,285
-
63,028
100,919
305,125
280,000 3,564
- 25,146
- 12,605
15,527
12,319
100,000
37
563
1,247,233
149
666
-
83
1,389,099
-
- -
9,867
- - 1,435
13,528
280,000
-
499,048
367,078
-
-
2,611,779
2,445,551
-
-
Total liabilities
20,967,864
17,713,858
11,302
293,528
Equity
Share capital
22
Reserves
891,390
122,291
562,965
(708,855)
891,390
557,924
562,965
532,606
Total equity attributable to shareholders of the Company
Minority interests
1,013,681
645,681
(145,890)
174,032
Total equity
1,659,362
28,142
1,449,314
1,095,571
Total equity and liabilities
22,627,226
17,742,000
1,460,616
1,389,099
Commitments and contingencies
36
4,937,223
The notes on pages 91 to 146 are an integral part of these financial statements.
4,026,381
-
1,449,314
1,095,571
- -
-
Assets
Cash and short term funds
3
Deposits and placements with financial institutions
4
Securities:
Held-for-trading 5
Available-for-sale
6
Held-to-maturity
7
Financing, advances and others
8
Deferred tax assets
10
Other assets
11
Current tax assets
Statutory deposit with Bank Negara Malaysia
12
Investments in subsidiaries
13
Investments in associates
14
Property, plant and equipment
15
General Takaful and Family Takaful assets
16
Income Statements
for the year ended 30 June 2007
GroupCompany
2007
2006
2007
2006
84
Income derived from investment of depositors’ funds 23
Income derived from investment of shareholders’ funds
24
Allowance for losses on financing 25
Reversal/(Impairment) losses
26
Profit equalisation reserve Direct expenses
853,534
788,656
1,029,451
327,297
(24,739) (1,300,478)
75,002
(164,461)
(47,921)
(9,308)
(3,810)
(13,660)
30,188
-
Total distributable income
Income attributable to depositors
27
1,881,517
(402,415)
(371,954)
(364,105)
30,188
(131,771)
- -
Total net income/(loss)
Personnel expenses
28
Depreciation
Impairment loss from property, plant & equipment
Other overhead expenses
29
1,479,102
(270,168)
(46,661)
(11,424)
(208,613)
(736,059)
(233,507)
(33,756)
- (167,999)
30,188
(131,771)
(3,511)
(124)
- - (1,802)
(2,257)
29,126
(160,897)
-
Operating profit/(loss)
Finance cost
31
Share of losses in associated companies
942,236 (1,171,321)
(13,370)
(6,000)
(618)
24,875
(134,152)
- (6,000)
- -
Profit/(Loss) before zakat and taxation
Zakat
Tax expense
32
928,866 (1,177,939)
(8,094)
(7,065)
(8,526)
(30,454)
24,875
(140,152)
- 398
(6,522)
(8,892)
Profit/(Loss) for the year
912,246
(1,215,458)
18,353
Attributable to:
Shareholders of the Company
Minority interests
799,322
112,924
(1,230,008)
14,550
18,353
(148,646)
- -
912,246
(1,215,458)
18,353
Profit/(Loss) for the year
(148,646)
(148,646)
Group
Note
2007
2006
Earnings/(Loss) per share (sen)
33
99.29
(218.49)
Dividend per ordinary share – net (sen) 34
-
1.8
No separate disclosure of fully diluted earnings per share has been made for reasons described in Note 33.
capital premium
reserve
reserve
reserve
reserve
lossesTotal
Minority
interestsTotal
-
-
562,965
At 30 June 2006
595,505
-
-
-
-
-
-
-
595,505
200,533
-
-
-
-
-
-
-
200,533
15,535
-
-
13,824
-
13,824 -
13,824
1,711
(6,110)
-
-
(65,172)
-
(65,172)
(65,172)
-
59,062
-
shareholders Dividends to minority
-
Dividend – 2005 final 34
and expense for the year
Total recognised income
-
Loss for the year
-
-
562,965
directly in equity
Net gain/(loss) recognised
available-for-sale
revaluation of securities
Unrealised net loss on
translation differences
Foreign exchange
At 1 July 2005
(10,133)
-
(1,521,181)
-
-
6,863
(145,890)
-
(10,133) (1,230,008) (1,281,356) (51,348)
-
-
-
(65,172)
(1,230,008) (1,230,008)
-
-
13,824
-
-
(281,040) 1,145,599
-
6,863
(51,844)
(65,172)
13,328
174,032
(4,978)
-
28,142
(4,978)
(10,133)
14,054 (1,267,302)
14,550 (1,215,458)
(496)
-
(496)
164,956 1,310,555
GroupNoteRM’000RM’000RM’000RM’000RM ‘000RM’000RM’000RM’000RM’000RM’000
ShareShareStatutoryTranslation Fair valueCapitalAccumulated ____________Attributable to shareholder of the Company________________
__________________________Non-distributable___________________________
Consolidated Statements of Changes in Equity
85
86
reserve
reserve
lossesTotal
-
-
-
-
-
-
-
595,505
-
595,505
-
-
-
-
-
-
200,533
-
200,533
(230)
-
(230)
-
(21,990)
21,760
15,535
-
15,535
and expense for the year
Total recognised income
-
directly in equity
-
- Net profit for the year
Net (loss)/gain recognised
available-for-sale
revaluation of securities
Unrealised net loss on
operation
investment in foreign
Net loss on hedge of net
translation differences
-
562,965
As restated
Foreign exchange
-
562,965
44
Prior year adjustments
At 1 July 2006
21,717
-
21,717
21,717
-
-
(6,110)
-
(6,110)
-
-
-
-
-
-
6,863
-
6,863
799,322
799,322
-
-
-
-
(1,518,317)
2,864
(1,521,181)
820,809
799,322
21,487
21,717
(21,990)
21,760
(143,026)
2,864
(145,890)
140,773
112,924
27,849
11,020
-
16,829
175,383
1,351
174,032
961,582
912,246
49,336
32,737
(21,990)
38,589
32,357
4,215
28,142
reserve
Minority
reserve
interestsTotal
capital premium
capital premium
reserve
reserve
reserve
reserve
lossesTotal
Minority
interestsTotal
328,425
891,390
Shares issued
At 30 June 2007
7,473
- - -
-
-
602,978
326,177
-
-
-
-
-
125,644
15,305
-
-
-
-
-
-
15,607
-
-
-
-
-
-
-
-
-
638,370
-
631,507
-
-
(3,728)
-
335,898
(53,766)
387,019
(3,728)
-
-
645,681 1,659,362
-
(53,766)
387,019
- 335,898
-
-
(1,476,146) 1,013,681
-
-
-
-
(631,507)
(125,644)
RM631,507,000 and is not distributable as cash dividends.
The Capital reserve arose out of the issuance of bonus issue in a subsidiary of RM6,863,000 and gain arising from the dilution of interest in a subsidiary of
The Statutory reserve is maintained in compliance with the provisions of the Islamic Banking Act, 1983 and is not distributable as cash dividends.
-
-
a subsidiary
by minority interests of
Acquisition of shares held
of a subsidiary company
subscription of shares
Minority interests’
interests
-
-
Dividends to minority
-
Transfer to capital reserve
Transfer to statutory reserve
87
Statements of Changes in Equity
Non-distributable
Retained profits/
ShareShareFair value
(Accumulated
capital
premium
reserve
losses)Total
CompanyNoteRM’000RM’000RM’000RM’000RM’000
At 1 July 2005
Unrealised net gain on revaluation
of securities available-for-sale Net loss for the year
Total recognised income and expense
for the year
Dividend - 2005 final
34
88
562,965
596,157
(83)
94,938 1,253,977
-
-
373
- - 373
(148,646) (148,646)
-
-
373
- (148,646)
(10,133)
At 30 June 2006
562,965
Unrealised net loss on revaluation
of securities available-for-sale
- Net profit for the year
- Total recognised income and expense
for the year
- Shares issued
22
328,425
596,157
At 30 June 2007
603,630
891,390
(148,273)
(10,133)
290
(63,841) 1,095,571
(507)
- - 18,353
- 7,473
(507)
- 18,353
17,846
- 335,898
(217)
(45,488) 1,449,315
-
(507)
18,353
Cash Flow Statements
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
928,866
(1,177,939)
24,875
(140,152)
46,661
11,424
(75,002)
-
-
-
10
24,739
(1,242)
(172,308)
-
(20)
(950)
(631,507)
(10,900)
(2,730)
-
(71,882)
(48,037)
(352)
(15,857)
2,450
11,613
-
(26,885)
(75,002)
33,756
-
104,254
55,887
-
3,340
7,313
1,300,478
-
(5,333)
-
-
-
-
(7,709)
(4,183)
(334)
-
(101,518)
(22,703)
-
-
-
618
-
-
-
-
-
-
-
-
-
-
-
(10,525)
(1,725)
-
-
-
-
-
-
-
(466)
(907)
-
-
-
-
-
-
-
156,027
4,870
(20,126)
1,344
-
-
-
-
Operating (loss)/profit before working capital changes
Changes in working capital:
Deposits and placements of banks and other financial institutions
Financing of customers
Statutory deposits with Bank Negara Malaysia
Bills receivable
Other receivables
Other payables
Bills payable
(106,911)
185,927
11,252
1,963
(29,037)
143,361
63,217
-
(58,085)
3,240,040
12,814
8,270
(1,289,891)
(805,074)
(31,388)
3,532 198,269
910,366
(84,115)
14,448
-
-
-
-
(205)
-
(3,803)
-
-
(21)
(6,168)
-
Cash generated from/(used in) operations
Zakat paid
Income taxes paid
3,273,669
(4,373)
(39,001)
(897,926)
(11,228)
(40,495)
7,244
-
(4,738)
(4,226)
(9,616)
Net cash generated from/(used in) operating activities
3,230,295
(949,649)
2,506
(13,842)
89
Cash flows from operating activities
Profit/(Loss) before zakat and taxation
Adjustments for:
Depreciation of property, plant and equipment
Impairment losses of property, plant and equipment
Impairment loss on securities available-for-sale
Impairment loss on securities held-to-maturity
Impairment loss on investment in a subsidiary
Impairment loss on investment in associates
Allowance for doubtful debts Allowance for losses on financing
Allowance for diminution in value of investments
Dividend income
Net (gain)/loss on disposal of investments
Gain on disposal of property, plant and equipment
Gain on disposal of associate
Gain on dilution of interest in a subsidiary
Net gain on sale of securities held-for-trading
Net gain on sale of securities available-for-sale
Fair value gain on securities held-for-trading
Accretion of discount less amortisation of premium
Dividend received from securities available-for-sale
Dividend received from securities held- for-trading
Dividend received from securities held-to-maturity
Goodwill written off
Property, plant and equipment written off
Share of losses in associated companies
Unrealised foreign exchange gain
Reversal of impairment losses
Cash Flow Statements
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
Cash flows from investing activities
Acquisition of shares in a subsidiary company
Purchase of property, plant and equipment
Proceeds from disposal of property, plant and equipment
Proceeds from disposal of associate
Dividend received
Dividend received from securities available-for-sale
Dividend received from securities held-for-trading
Dividend received from securities held-to-maturity
Net (purchase)/disposal of securities
-
(56,784)
187
950
172,308
48,037
352
15,857
(1,087,708)
-
(46,667)
878
-
5,333
101,518
22,703
-
774,125
(46,942) (399)
667
-
10,525
466 907
-
(3,716)
(280,000)
20,126
12,031
(906,801)
857,890
(38,492)
(247,843)
Cash flows from financing activities
Dividend paid
Proceeds from issuance of new ordinary shares
Acquisition of minority shareholders
Issuance of shares of a subsidiary to minority shareholders
Advances from subsidiaries
(Repayment)/Advance from a corporate shareholder
(3,728)
335,898
(56,992)
1,018,526
-
(280,000)
(10,133)
-
-
9,076
-
280,000
-
328,385
-
-
142
(280,000)
(10,133)
280,000
Net cash generated from financing activities
1,013,704
278,943
48,527
269,867
Net increase in cash and cash equivalents
3,337,198
187,184
12,541
8,182
Cash and cash equivalents at the beginning of year
Foreign exchange differences
2,941,854
2,755,611
12,605
4,423
20,120
(941)
-
-
Cash and cash equivalents at the end of year
6,299,172
2,941,854
25,146
12,605
6,011,713
287,459
2,882,378
59,476
92
25,054
12,605
-
6,299,172
2,941,854
25,146
12,605
Net cash (used in)/generated from investing activities
90
Cash and cash equivalents comprise:
Notes to the Financial Statements
BIMB Holdings Berhad is a public limited liability company, incorporated and domiciled in Malaysia and listed on the Main Board
of Malaysia Securities Exchange Berhad. The address of its registered office and principal place of business are as follows:
Registered office and principal place of business
Level 18, Menara Yayasan Tun Razak,
200 Jalan Bukit Bintang,
55100 Kuala Lumpur.
The consolidated financial statements as at and for the year ended 30 June 2007 comprise the Company and its subsidiaries
(together referred to as the Group) and the Group’s interest in associates. The financial statements of the Company as at and for
the year ended 30 June 2007 do not include other entities.
The Company is principally engaged in investment holding activities while the other Group entities are primarily involved in
Islamic banking business, provision of stockbroking and managing family and general takaful businesses.
1. Basis of preparation
(a)Statement of compliance
The financial statements of the Group and of the Company have been prepared in accordance with applicable approved
accounting standards for entities other than private entities issued by the Malaysian Accounting Standards Board
(MASB) as modified by Bank Negara Malaysia Guidelines, accounting principles generally accepted in Malaysia, the
provisions of the Companies Act, 1965 and Shariah requirements.
The MASB has issued the following Financial Reporting Standards (FRSs) and Interpretations that are effective for annual
periods beginning after 1 January 2006, and that have not been applied in preparing these financial statements:
Standard / InterpretationEffective date
FRS 117, Leases
FRS 124, Related Party Disclosures
Amendment to FRS 1192004, Employee Benefits – Actuarial Gains and Losses, Group Plans
and Disclosures
FRS 6, Exploration for and Evaluation of Mineral Resources
Amendment to FRS 121, The Effects of Changes in Foreign Exchange Rates –
Net Investment in a Foreign Operation
IC Interpretation 1, Changes in Existing Decommissioning, Restoration and Similar Liabilities
IC Interpretation 2, Members’ Shares in Co-operative Entities and Similar Instruments
IC Interpretation 5, Rights to Interests arising from Decommissioning, Restoration and
Environmental Rehabilitation Funds
1 October 2006
1 October 2006
1 January 2007
1 January 2007
1 July 2007
1 July 2007
1 July 2007
1 July 2007
91
1. Basis of preparation (cont’d)
(a)Statement of compliance (cont’d)
Standard / InterpretationEffective date
IC Interpretation 6, Liabilities arising from Participating in a Specific Market – Waste Electrical
and Electronic Equipment
IC Interpretation 7, Applying the Restatement Approach under FRS 1292004 Financial
Reporting in Hyperinflationary Economies
IC Interpretation 8, Scope of FRS 2
1 July 2007
1 July 2007
1 July 2007
FRS 107, Cash Flow Statements
1 July 2007
FRS 111, Construction Contracts
1 July 2007
FRS 112, Income Taxes
1 July 2007
FRS 118, Revenue 1 July 2007
FRS 120, Accounting for Government Grants and Disclosure of Government Assistance 1 July 2007
FRS 134, Interim Financial Reporting 1 July 2007
FRS 137, Provisions, Contingent Liabilities and Contingent Assets
1 July 2007
The Group and the Company plan to apply the above-mentioned FRSs (except for FRS 139 which its effective date has
yet to be announced) initially for the annual period beginning 1 July 2007.
The impact of applying FRS 117, FRS 124 and FRS 139 on the financial statements upon first adoption of these
standards as required by paragraph 30(b) of FRS 108, Accounting Policies, Changes in Accounting Estimates and Errors
is not disclosed by virtue of the exemptions given in the respective standards.
The initial application of the other standards and interpretations are not expected to have any material impact on the
financial statements of the Group and the Company.
There were no significant financial impact of adopting the new/revised FRSs in 2007.
The financial statements were approved by the Board of Directors on 29 October 2007.
92
1. Basis of preparation (cont’d)
(b) Basis of measurement
The financial statements have been prepared on the historical cost basis except for the following assets as explained in
their respective accounting policy notes:
•
•
•
Securities held-for-trading
Securities available-for-sale
Derivatives financial instruments
(c)Functional and presentation currency
These financial statements are presented in Ringgit Malaysia (RM), which is the Company’s functional currency. All
financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated.
(d)Use of estimates and judgements
The preparation of financial statements requires management to make judgements, estimates and assumptions that
affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual
results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and in any future periods affected.
In particular, information about significant areas of estimation uncertainty and critical judgements in applying accounting
policies that have the most significant effect on the amount recognised in the financial statements are described in the
following note:
•
Note 10 – unrecognised deferred tax assets/liabilities
2.Significant accounting policies
The accounting policies set out below have been applied consistently to all periods presented in these financial statements,
and have been applied consistently by Group entities, unless otherwise stated.
(a) Basis of consolidation
(i) Subsidiaries
Subsidiaries are entities controlled by the Group. Control exists when the Group has the power to govern the
financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential
voting rights that presently are exercisable are taken into account.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that
control commences until the date that control ceases.
Investments in subsidiaries are stated in the Company’s balance sheet at cost less impairment losses.
93
2.Significant accounting policies (cont’d)
(a) Basis of consolidation (cont’d)
(ii) Associates
Associate is an entity in which the Group has significant influence, but not control, over the financial and operating
policies.
Associate is accounted for in the consolidated financial statements using the equity method. The consolidated
financial statements include the Group’s share of the income and expenses of the equity accounted associate,
after adjustments to align the accounting policies with those of the Group, from the date that significant influence
commences until the date that significant influence ceases.
When the Group’s share of losses exceeds its interest in an equity accounted associate, the carrying amount of that
interest (including any long-term investments) is reduced to nil and the recognition of further losses is discontinued
except to the extent that the Group has an obligation or has made payments on behalf of the investee.
Investment in an associate is stated in the Company’s balance sheet at cost less impairment losses.
94
(iii) Changes in Group composition
Where a subsidiary issues new equity shares to minority interests for cash consideration and the issue price has
been established at fair value, the reduction in the Group’s interests in the subsidiary is accounted for as a disposal
of equity interest with the corresponding gain or loss recognised in the income statement.
When a group purchases a subsidiary’s equity shares from minority interests for cash consideration and the purchase
price has been established at fair value, the accretion of the Group’s interests in the subsidiary is accounted for as
a purchase of equity interest for which the acquisition accounting method of accounting is applied.
The Group treats all other changes in group composition as equity transactions between the Group and its minority
shareholders. Any difference between the Group’s share of net assets before and after the change, and any
consideration received or paid, is adjusted to or against Group reserves.
(iv) Minority interest
Minority interest at the balance sheet date, being the portion of the net identifiable assets of subsidiaries attributable
to equity interests that are not owned by the Company, whether directly or indirectly through subsidiaries, are
presented in the consolidated balance sheet and statement of changes in equity within equity, separately from
equity attributable to the equity shareholders of the Company. Minority interest in the results of the Group are
presented on the face of the consolidated income statement as an allocation of the total profit or loss for the year
between minority interest and the equity shareholders of the Company.
Where losses applicable to the minority exceed the minority’s interest in the equity of a subsidiary, the excess, and
any further losses applicable to the minority, are charged against the Group’s interest except to the extent that the
minority has a binding obligation to, and is able to, make additional investment to cover the losses. If the subsidiary
subsequently reports profits, the Group’s interest is allocated with all such profits until the minority’s share of losses
previously absorbed by the Group has been recovered.
(a) Basis of consolidation (cont’d)
(v) Transactions eliminated on consolidation
Intra-group balances, and any unrealised income and expenses arising from intra-group transactions, are eliminated
in preparing the consolidated financial statements.
Unrealised gains arising from transactions with equity accounted investees are eliminated against the investment
to the extent of the Group’s interest in the investee. Unrealised losses are eliminated in the same way as unrealised
gains, but only to the extent that there is no evidence of impairment.
(b)Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated to the respective functional currencies of Group entities at exchange
rates at the dates of the transaction.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the
functional currency at the exchange rate at that date. Non-monetary assets and liabilities denominated in foreign
currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the
date that the fair value was determined. Foreign currency differences arising on retranslation are recognised in the
income statement.
95
(ii) Operations denominated in functional currencies other than Ringgit Malaysia
The assets and liabilities of operations in functional currencies other than RM, including goodwill and fair value
adjustments arising on acquisition, are translated to RM at exchange rates at the balance sheet date. The income
and expenses of foreign operations, are translated to RM at exchange rates at the dates of the transactions.
On disposal, accumulated translation differences are recognised in the consolidated income statement as part of
the gain or loss on sale.
(iii) Net investment in foreign operations
Exchange differences arising from monetary items that in substance form part of the Group’s net investment in foreign
operations, are recognised in equity in the Group’s financial statements only when the financing is denominated in
either the functional currency of the Company or the foreign operation. Deferred exchange differences are released
to the income statement upon disposal of the investment.
(c)Intangible assets
(i) Goodwill
Goodwill arises on the acquisition of subsidiaries and associates.
Goodwill represents the excess of the cost of the acquisition over the Group’s interest in the net fair value of the
identifiable assets, liabilities and contingent liabilities of the acquiree.
Goodwill is measured at cost and tested for impairment at least annually or more frequently when there is objective
evidence of impairment.
Goodwill is allocated to cash-generating units and is tested annually for impairment or more frequently if events or
changes in circumstances indicate that it might be impaired.
In respect of equity accounted investees, the carrying amount of goodwill is included in the carrying amount of the
investment. The entire carrying amount of the investment is tested for impairment when there is objective evidence
of impairment.
96
(ii) Acquisition of minority interest
Goodwill arising on the acquisition of a minority interest in a subsidiary represents the excess of the cost of the
additional investment over the carrying amount of the net assets acquired at the date of exchange.
(d)Derivative financial instruments
The Group holds derivative financial instruments to hedge its foreign currency exposure.
Foreign exchange trading positions, including spot and forward contracts, are revalued at prevailing market rates at
balance sheet date and the resultant gains and losses for the financial year are recognised in the income statement.
(e)Financing
Financing is stated after deducting the allowance for losses on financing.
Allowance for bad and doubtful financing
Specific allowances are made for bad and doubtful financing, which have been individually reviewed and specifically
identified as bad and doubtful.
A general allowance based on a percentage of the financing portfolio (net of specific allowance for bad and doubtful
financing) is also made. These percentages are reviewed annually in the light of past experiences and prevailing
circumstances and an adjustment is made to the overall general allowance, if necessary.
(e)Financing (cont’d)
An uncollectible financing or portion of a financing classified as bad is written off after taking into consideration the
realisable value of collateral, if any, when in the judgement of the management, there is no prospect of recovery.
During the financial year, specific allowance for bad and doubtful financing has been made in full compliance with the
revised BNM GP3 (September 1998). Allowances of 20% on shortfall of carrying value against the collateral value is
made where repayment is in arrears for six to less than nine months from the first date of default; allowances of 50% for
repayment in arrears for nine to twelve months; whilst full allowance is made for arrears exceeding twelve months. Any
allowance during the year is charged to the income statement.
In the previous year, the Group had adopted a more stringent basis for specific allowance on those doubtful financing
where repayment is in arrears for more than three (3) months by providing full allowance on the shortfall of carrying value
against the collateral value. The Directors were of the view that such treatment reflected a more prudent provision policy
and was necessary to address the deteriorating financing portfolio.
The holdings of the securities portfolio of the Group and the Company are recognised based on the following categories
and consequently their valuation methods:
(i) Securities held-for-trading
Securities are classified as held-for-trading if it is acquired or incurred principally for the purpose of selling or
repurchasing it in the near term or it is part of a portfolio of identified securities that are managed together and for
which there is evidence of a recent actual pattern of short-term profit-taking. Securities classified as held-for-trading
will be stated at fair value and any gain or loss arising from a change in the fair value will be recognised in income
statement.
(ii) Securities available-for-sale
Available-for-sale securities are securities that are not classified as held-for- trading or held-to-maturity and are
measured at fair value. Securities in equity instruments that do not have a quoted market price in an active market
and whose fair value cannot be reliably measured are stated at cost. Any gain or loss arising from a change in the fair
value is recognised directly in equity through the statement of changes in equity until the securities are sold, disposed
off or impaired, at which time the cumulative gains or losses previously recognised in equity will be transferred to
income statement. Profit from the available-for-sale securities is recognised in the income statement.
(iii) Securities held-to-maturity
Held-to-maturity securities are securities with fixed or determinable payments and fixed maturity that the Company
has the positive intention and ability to hold to maturity. These securities are measured at amortised cost using the
effective profit method. A gain or loss is recognised in the income statement when the securities are derecognised
or impaired, as well as amortisation of premium and accretion of discounts.
97
(f)Securities
(i) Recognition and measurement
Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
Property, plant and equipment retired from active use and held for disposal are stated at the carrying amount at the
date when the asset is retired from active use, less impairment losses, if any.
Cost includes expenditures that are directly attributable to the acquisition of the asset and any other costs directly
attributable to bringing the asset to working condition for its intended use, and the costs of dismantling and removing
the items and restoring the site on which they are located. The cost of self-constructed assets also includes the
cost of materials and direct labour. Purchased software that is integral to the functionality of the related equipment
is capitalised as part of that equipment.
The cost of property, plant and equipment recognised as a result of a business combination is based on fair value
at acquisition date. The fair value of property is the estimated amount for which a property could be exchanged
between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties
had each acted knowledgeably, prudently and without compulsion. The fair value of other items of plant and
equipment is based on the quoted market prices for similar items.
When significant parts of an item of property, plant and equipment have different useful lives, they are accounted for
as separate items (major components) of property, plant and equipment.
98
(g) Property, plant and equipment
(ii) Subsequent costs
The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of the
item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost
can be measured reliably. The carrying amount of those parts that are replaced is derecognised. The costs of the
day-to-day servicing of property, plant and equipment are recognised in the income statement as incurred.
(iii) Depreciation
Depreciation is recognised in the income statement on a straight-line basis over the estimated useful lives of each
part of an item of property, plant and equipment. Leasehold land is amortised in equal instalments over the period
of the lease.
The estimated useful lives for the current and comparative periods are as follows:
•
•
•
•
•
•
The depreciable amount is determined after deducting the residual value.
Depreciation methods, useful lives and residual values are reassessed at the reporting date.
Buildings
Building improvement and renovations Furniture, fixtures and fittings
Office equipment
Motor vehicles
Computer equipment and software
99 years
6 years
2 – 6 years
2 – 6 years
4 years
2 – 6 years
(h)Impairment
The carrying amounts of assets except for financial assets (other than securities held-to-maturity and available-for-sale)
are reviewed at each reporting date to determine whether there is any indication of impairment.
If any such indication exists, then the asset’s recoverable amount is estimated. For goodwill that has indefinite useful
lives or that is not yet available for use, recoverable amount is estimated at each reporting date.
An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its recoverable
amount. A cash-generating unit is the smallest identifiable asset group that generates cash flows that largely are
independent from other assets and groups. Impairment losses are recognised in the income statement. Impairment
losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill
allocated to the units and then to reduce the carrying amount of the other assets in the unit (groups of units) on a pro
rata basis.
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs
to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in
prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An
impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that
would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. Reversals
of impairment losses are credited to the income statement in the year in which the reversals are recognised.
(i) Bills and other receivables
Bills and other receivables are stated at cost less allowance for doubtful debts.
(j)Cash and cash equivalents
Cash and cash equivalents include cash and short-term funds, and deposits and placements with banks and other
financial institutions.
(k) Bills and acceptances payable
Bills and acceptances payable represent the Group’s own bills and acceptances rediscounted and outstanding in the
market.
(l)Liabilities
Deposits from customers and deposits and placements of banks and financial institutions are stated at placement
values.
99
(l)Liabilities (cont’d)
Other payables are measured initially and subsequently at cost. Other payables are recognised when there is a contractual
obligation to deliver cash or another financial asset to another entity.
(m)Leases
The Group accounts for its Ijarah leasing contracts as operating leases and Ijarah Muntahia Bittamlik as finance
leases.
(n) Family Takaful Fund
Included in Family Takaful Fund is fund arising from:i) Family Takaful;
ii) Group Family Takaful; and
iii) Family Retakaful Funds.
100
The profit attributable to cedants represents the cedants’ share in the family retakaful surpluses and is distributable in
accordance with the terms and conditions prescribed by the Group.
The Family Takaful Fund is maintained in accordance with the requirements of the Takaful (Amendment) Act, 1984
and includes the amounts attributable to participants which represents the participants’ share of the return on the
investments and are distributable in accordance with the terms and conditions prescribed by the Group.
The surplus transferable from the Family Takaful Fund to the income statement is based on the surplus determined by
an annual actuarial valuation of the long term liabilities to the participants.
Contributions income
Contribution is recognised as soon as the amount of the contribution can be reliably measured. Initial contribution is
recognised from inception date and subsequent contribution is recognised when it is due.
At the end of the financial period, all due contributions are accounted for to the extent that they can be reliably
measured.
Investment-linked business
Investments of investment-linked business are stated at closing market prices. Any increase or decrease in value of
these investments is taken into the investment-linked business revenue account.
Actuarial reserve
Actuarial reserves comprises the unearned contribution reserves and the reserve computed under the net contribution
valuation as explained below :
(n) Family Takaful Fund (cont’d)
(i) Unearned contribution reserve
The Unearned Contributions Reserve (UCR) of group family fund (except for Mortgage Reducing Term Takaful
(“MRTT”) products) and family retakaful fund represents the portion of the net contributions of takaful certificates
written that relate to the unexpired periods of the certificates at the end of the financial period.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned
contributions is used, as follows:
(a) 1/365th method for all group family takaful business within Malaysia.
(b) A pro-rata basis based on a time apportionment method for family retakaful business.
(ii) Net contribution valuation
The valuation basis for MRTT products has been changed in the current financial year from UCR to NCV in compliance
to the Bank Negara Malaysia’s Guidelines on “Valuation of Liabilities for Mortgage Reducing Term Takaful” issued on
11 April 2007.
Provision for outstanding claims
Claims and provisions for claims arising on family and group family Takaful certificates, including settlement costs,
are accounted for using the case basis method and for this purpose; the benefits payable under a family Takaful
certificates are recognised as follows:
(i) maturity or other policy benefit payments due on specified dates are
dates; and
(ii) death, surrender and other benefits without due dates are treated as claims payable, on the date of receipt of
intimation of death of the participant or occurrence of contingency covered.
Claims and settlement costs that are incurred during the financial period are recognised when a claimable event
occurs and/or the Takaful operator is notified.
treated as claims payable on the due
(o) General Takaful Fund
The General Takaful Fund is maintained in accordance with the Takaful Act, 1984 (amendment). Included in General
Takaful fund is fund arising from:
i) General Takaful;
ii) Asean Takaful Group (“ATG”) retakaful pool; and
iii) General retakaful funds.
101
The actuarial liability for MRTT products managed under group family fund is calculated using net contribution
method of valuation (“NCV”). The liability is ascertained by deducting the present value of future net contribution
from the present value of the future amount-at-risk.
102
(o) General Takaful Fund (cont’d)
The General Takaful underwriting results are determined for each class of Takaful business after taking into account
retakaful, commissions, unearned contributions, claims incurred and management expenses.
The net surplus for general retakaful is determined after deducting retakaful, reserve for unearned retakaful contributions,
net claims incurred and acquisition costs.
The profit attributable to cedants represents the cedants’ share in the general retakaful surpluses and is distributable in
accordance with the terms and conditions prescribed by the Group.
Contributions income
Contributions are recognised in a financial period in respect of risks assumed during that particular financial period
based on the inception date. Inward treaty retakaful contributions are recognised on the basis of periodic advices
received from ceding takaful operators.
Unearned contributions reserve (“UCR”)
The UCR represents the portion of the net contributions of Takaful certificates written that relate to the unexpired periods
of the certificates at the end of the financial period.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned contributions
is used, as follows:
(i) 1/365th method for all General Takaful business within Malaysia.
(ii) 1/8th method for all classes of General Inward Takaful business.
A liability for outstanding claims is recognised in respect of direct Takaful business. The amount of outstanding claims is
the best estimate of the expenditure required together with related expenses less recoveries, if any, to settle the present
obligation at the balance sheet date. Any difference between the current estimated cost and subsequent settlement is
dealt with in the Takaful revenue account for the Group in the year in which the settlement takes place.
Provision is also made for the cost of claims, together with related expenses, incurred but not reported (“IBNR”) at
balance sheet date, using a mathematical method of estimation by a qualified independent actuary.
(p) Profit equalisation reserve (“PER”)
PER is a mechanism to reduce the fluctuations in the profit rates payable to the depositors. It is provided based on the
Framework of the Rate of Return or BNM/GP2-i issued by Bank Negara Malaysia. The amount of PER is appropriated
from and written back to the total gross income. PER is reflected under other liabilities of the Group.
(q)Share capital
Ordinary shares are classified as equity in the balance sheet. Cost directly attributable to the issuance of new equity
shares are taken to equity as a deduction from the proceeds.
(r)Income recognition
Finance income
Finance income is recognised on an accrual basis.
Income on cash line, house and term financing is accounted for on a constant rate of return basis by reference to the
rest periods as stipulated in the financing agreement.
Where a financing account becomes non-performing, profit accrued and recognised as income prior to the date the
account is classified as non-performing is reversed out of income. Thereafter, profit on the non-performing financing shall
only be recognised as income on a cash basis. Income is not recognised on customers’ accounts where repayments are
in arrears for more than six months from the first day of default for financing, cash line and advances; and three months
from the first day of default for trade bills, credit cards, bankers acceptances, trust receipts and other instruments of
similar nature.
Fee and other income recognition
Financing arrangement, management and participation fees, underwriting commissions and brokerage fees are
recognised as income based on contractual arrangements. Guarantee fee is recognised as income upon issuance of
the guarantee. Fees from advisory and corporate finance activities are recognised net of service taxes and discounts on
completion of each stage of the assignment.
Dividend income from subsidiary and associated companies and other investments are recognised when the Company’s
rights to receive payment is established.
(s)Income tax
Tax expense comprises current and deferred tax. Tax expense is recognised in the income statement except to the
extent that it relates to items recognised directly in equity, in which case it is recognised in equity.
Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively
enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Deferred tax is recognised using the balance sheet method, providing for temporary differences between the carrying
amounts of assets and liabilities for reporting purposes and the amounts used for taxation purposes. Deferred tax is not
recognised for the following temporary differences: the initial recognition of goodwill, the initial recognition of assets or
liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit (tax
loss). Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they
reverse, based on the laws that have been enacted or substantively enacted by the balance sheet date.
103
Deferred tax liability is recognised for all taxable temporary differences.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against
which temporary difference can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to
the extent that it is no longer probable that the related tax benefit will be realised.
Additional taxes that arise from the distribution of dividends are recognised at the same time as the liability to pay the
related dividend is recognised.
104
(s)Income tax (cont’d)
(t) Zakat
This represents business zakat. It is an obligatory amount payable by the Group to comply with the principles of
Shariah.
(u)Employee benefits
Short term employee benefits
Short-term employee benefit obligations in respect of salaries, annual bonuses, paid annual leave and sick leave are
measured on an undiscounted basis and are expensed as the related service is provided.
A provision is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans if
the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the
employee and the obligation can be estimated reliably.
The Group’s contribution to the Employees Provident Fund is charged to the income statements in the year to which
they relate. Once the contributions have been paid, the Group has no further payment obligations.
Share-based payment transactions
The share options programme allows employees to acquire shares of the Company. In the previous years, share options
granted to employees is not recognized as an employee cost. Following the adoption of FRS 2, Share-based Payment, the
grant date fair value of share options granted to employees is recognized as an employee expense, with a corresponding
increase in equity, over the period in which the employees become unconditionally entitled to the options. The change
in accounting policy is applied retrospectively only for those options granted after 31 December 2004 and have not
vested as of 1 January 2006 as provided in the transitional provision of FRS 2. No expense is recognized as there were
no options that remained unvested as of 1 January 2006.
3.Cash and short term funds
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
Cash and balances with banks and other financial institutions
Money at call and interbank placements with remaining
maturity not exceeding one month
400,700
406,151
25,146
12,605
5,611,013
2,476,227
-
-
6,011,713
2,882,378
25,146
12,605
4.Deposits and placements with bank and other financial institutions
Group
2007
2006
RM’000RM’000 Restated
105
Licensed banks
287,459
59,476
5.Securities held-for-trading
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
At fair value:
Quoted securities in Malaysia
Shares
63,390
40,347
20,968
15,527
Unquoted securities in Malaysia
Malaysian Government Investment Issues
Bank Negara Negotiable Notes
Negotiable Islamic Debt Certificates
Islamic Commercial Papers
Islamic Debt Securities
Accepted Bills
15,231
99,744
-
-
16,909
166,276
4,971
-
49,950
4,356
-
179,552
-
-
-
-
-
-
-
298,160
238,829
-
-
361,550
279,176
20,968
15,527
6.Securities available-for-sale
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
106
At fair value:
Quoted securities in Malaysia Unit trust
Shares
25,955
5,448
29,418
156,228
11,812
-
12,319
-
31,403
185,646
11,812
12,319
At fair value:
Quoted securities outside Malaysia
Bond
17,263
18,363
-
-
At fair value:
Malaysian Government Investment Issues
Bank Negara Negotiable Notes
Negotiable Islamic Debt Certificates
Islamic Commercial Papers
Accepted Bills
Promissory notes 791,304
-
1,385,542
113,715
792,580
233,166
6,022
250,131
41,950
333,763
173,301
626,828
534,007
6,022
-
-
-
-
-
-
-
-
3,322,329
1,966,002
-
-
At fair value:
Unquoted securities outside Malaysia
Islamic Development Bank Unit Trust
1,928
69,199
2,039
-
-
-
-
-
71,127
2,039
-
-
6.Securities available-for-sale (cont’d)
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
At cost:
Unquoted shares
Less: Accumulated impairment losses
30,516
38,846
-
-
(24,168)
(22,484)
-
-
6,348
16,362
-
-
At cost:
Unquoted shares
Less: Accumulated impairment losses
27,163
42,712
-
-
(15,536)
(31,647)
-
-
11,627
11,065
-
-
3,460,097
2,199,477
11,812
12,319
At amortised cost:
Quoted securities in Malaysia
5,560
7,634
-
-
878
205,342
-
206,796
-
-
-
(30,648)
(70,602)
-
-
175,572
136,194
-
-
Shares
52
-
-
-
181,184
143,828
-
-
Shares
Less:
Accumulated impairment loss
7.Securities held-to-maturity
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
107
8.Financing, advances and others
Group
2007
2006
RM’000RM’000
Restated
i) By type
Cash line
Term financing
House financing
Syndicated financing
Leasing receivables
Bridging financing
Personal financing
Other term financing
Staff financing Credit cards
Revolving credit
108
Less: Unearned income
135,221
16,686
5,694,890
180,182
398,807
658,083
1,960,359
4,115,797
310,488
253,498
1,018,506
5,727,134
230,117
364,067
483,275
1,794,872
4,890,499
284,619
177,052
1,270,854
14,725,831 15,239,175
(4,906,263) (5,004,732)
Less: Allowance for bad and doubtful financing:
- General
- Specific
9,819,568
10,234,443
(170,461)
(1,215,820)
(168,462)
(1,464,594)
Total net financing, advances and others
8,433,287
8,601,387
ii)
By contract
Bai’ Bithaman Ajil (deferred payment sale)
Ijarah (operating lease)
Ijarah Muntahia Bittamlik/AITAB (finance lease)
Mudharabah (profit sharing)
Murabahah(cost-plus)
Bai’-Al-Inah Cash Note
Bai Al-Inah
Istisna’
Others
5,836,269
157,855
184,379
18,150
1,248,975
1,267,727
415,328
638,984
51,901
6,522,248
104,372
216,602
21,316
1,422,832
1,069,766
184,532
642,964
49,811
9,819,568
10,234,443
8.Financing, advances and others (cont’d)
Group
2007
2006
RM’000RM’000
Restated
iii)
46,035
2,132,518
1,051,169
68,214
6,490,367
29,575
1,690
149,494
1,572,367
1,092,140
74,786
6,527,505
25,022
793,129
9,819,568
10,234,443
iv)
By profit rate sensitivity
Fixed rate
House financing
Others
2,464,941
7,354,627
2,600,168
7,634,275
9,819,568
10,234,443
226,185
3,633
1,125,203
87,387
700,883
109,903
140,751
5,464
1,206,281
93,604
781,612
125,324
2,891,457
480,508
268,740
77,162
46,038
221,905
1,764,858
1,451,771
59,135
304,800
2,743,033
538,259
470,866
84,711
116,035
487,421
1,958,573
1,241,543
49,907
191,059
9,819,568
10,234,443
v)
By economic purposes
Agriculture, hunting, forestry and fishing
Mining and quarrying
Manufacturing
Electricity, gas and water
Construction
Real estate
Purchase of landed property:
- Residential
- Non-residential
Wholesale, retail trade, restaurants and hotels
Transport, storage and communication
Finance, insurance and business services
Purchase of securities
Purchase of transport vehicles
Consumption credit
Community, social and personnel
Others
109
By type of customer
Domestic non-bank financial institutions
Domestic business enterprise
Small medium industries
Government
Individuals
Other domestic entities
Foreign entities
8.Financing, advances and others (cont’d)
Company
2007
2006
RM’000RM’000
Subordinated Mudharabah financing
100,000
100,000
The amount refers to a subordinated Mudharabah financing facility granted to a subsidiary, Bank Islam Malaysia Berhad
which is subordinated to all other liabilities, of the subsidiary and matures in year 2010.
9.Non-performing financing, advances and others
110
(i) Movement in the non-performing financing, advances and others
Group
2007
2006
RM’000RM’000
Restated
At 1 July
2,269,107
1,967,185
Classified as non-performing during the year
712,278
1,147,756
Reclassified as performing during the year
(81,375)
(189,763)
Amount recovered
(392,880)
(127,873)
Amount written off
(307,245)
(502,861)
Exchange differences
(40,845)
(25,337)
At 30 June
Less: Specific allowance
2,159,040
(1,215,820)
2,269,107
(1,464,594)
Net non-performing financing, advances and others
943,220
804,513
Ratio of net non-performing financing, advances
and others to total net financing, advances and others
10.94%
9.15%
9.Non-performing financing, advances and others (con’t)
(ii) Movement in allowance for bad and doubtful financing
Group
2007
2006
RM’000RM’000
Restated
General allowance
At 1 July
168,462
160,533
Allowance made during the year 3,074
29,437
Amount transferred to specific allowance
-
(11,342)
Amount transferred to PER
-
(3,150)
Write-back made during the year
-
(6,298)
(1,075)
(718)
At 30 June
170,461
168,462
Ratio of net non-performing financing, advances and others to total net financing,
advances and others
1.97%
1.91%
111
1,464,594
275,389
-
-
(228,208)
(264,230) (31,725)
833,645
1,189,196
11,342
11,089
(83,273)
(484,404)
(13,001)
1,215,820
1,464,594
84,758
3,135
412,419
83,510
461,369
4,431
71,833
4,926
393,907
88,200
445,769
4,487
360,829
158,501
144,260
19,200
636
184,581
60,608
140,793
23,591
16,419
317,471
150,453
243,613
19,468
5,007
297,506
40,067
110,173
17,054
59,173
2,159,040
2,269,107
At 30 June
(iii)Non-performing financing by sector
Agriculture, hunting, forestry and fishing Mining and quarrying
Manufacturing
Electricity, gas and water
Construction
Real estate
Purchase of landed property:
-Residential
-Non-residential
Wholesale and retail trade and restaurants and hotel
Transport, storage and communication
Finance, insurance and business services
Purchase of transport vehicles
Consumption credit
Community, social and personal
Others
At 30 June
Specific allowance
At 1 July
Allowance made during the year Amount transferred from general allowance
Amount transferred from allowance for doubtful debts
Amount recovered
Amount written off
10.Deferred tax assets and liabilities
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following:
AssetsLiabilitiesNet
2007
2006
2007
2006
2007
2006
RM’000RM’000RM’000RM’000RM’000RM’000
112
Group
Financing receivable
Other items
Tax loss carry-forwards
Unabsorbed capital allowance
Tax assets
Company
Other items
In recognising the deferred tax assets attributable to unutilised tax loss carry-forwards and unutilised capital allowance
carry-forwards (included in deductible temporary differences of property, plant and equipment) the Directors made an assumption that there will not be any substantial change (more than 50%) in the shareholders before these assets are utilised. If
there is substantial change in the shareholders, unutilised tax loss carry-forwards amounting to approximately RM1.3 million
will not be available to the Group, resulting in an increase in net deferred tax liabilities.
6,092
2,996
6,174
1,308
-
6,419
3,231
434
730
1,263
(2,248)
-
(1,420)
-
-
(4,057)
-
-
-
-
3,844
2,996
4,754
1,308
-
2,362
3,231
434
730
1,263
16,570
12,077
(3,668)
(4,057)
12,902
8,020
-
-
(1,435)
-
(1,435)
-
Unrecognised deferred tax assets
Deferred tax assets have not been recognised in respect of the following items:
Group
2007
2006
RM’000RM’000
Allowances for losses on financing
Impairment losses
Unutilised tax losses
Unabsorbed capital allowances
Other temporary differences
170,461
74,654
144,028
49,926
7,403
171,936
136,693
560,041
63,831
7,311
446,472
939,812
The deductible temporary differences do not expire under current tax legislation unless there is a substantial change in
shareholders (more than 50%). If there is substantial change in shareholders, unutilised tax loss carry-forwards of the Group
amounting to approximately RM144.0 million and unutilised capital allowance carry-forwards amounting to approximately
RM49.9 million will not be available. Deferred tax assets have not been recognised in respect of these items because it is
uncertain whether the Group is able to utilise the benefits in the future.
11.Other assets
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Restated
Bill receivables Clients’ and dealers’ debit balances
Due from Takaful funds
Amount due from subsidiaries
Amount due from associates
Deposits and prepayments Statutory deposits with LOFSA
Other receivables
10,668
6,858
36,411
-
-
16,281
100
171,979
12,601
1,218
14,413
-
138
14,048
97
136,986
-
-
-
22
-
220
-
-
-
37
-
Allowance for doubtful debts
242,297
(85,871)
179,501
(86,141)
242 -
37
-
156,426
93,360
242
37
113
12.Statutory deposit with Bank Negara Malaysia
The non-interest bearing statutory deposits are maintained with Bank Negara Malaysia in compliance with Section
37(1)(c) of the Central Bank of Malaysia Act, 1958 (revised 1994), the amount of which are determined as set percentages of total eligible liabilities.
13.Investments in subsidiaries
Company
2007
2006
RM’000RM’000
At cost
Quoted shares in Malaysia
Unquoted shares in Malaysia
106,986
1,351,237
106,986
1,296,784
Less: Accumulated impairment loss 1,458,223
(156,537)
1,403,770
(156,537)
1,301,686
1,247,233
Market value:
Quoted shares in Malaysia
144,431
129,453
13.Investments in subsidiaries (cont’d)
Details of the subsidiaries are as follows:
Effective
ownership
Name of Company
interest
2007
2006
%
%
114
Subsidiary of Bank Islam Malaysia Berhad
Bank Islam (L) Ltd
BIMB Unit Trust Management Berhad
BIMB Foreign Currency Clearing Agency Sdn. Bhd.
Al-Wakalah Nominees (Tempatan) Sdn. Bhd.
BIMB Trust Ltd.
Subsidiary of BIMB Trust Ltd.
BIMB Offshore Company
Management Services Sdn. Bhd.
Syarikat Takaful Malaysia Berhad+
Subsidiary of Syarikat Takaful Malaysia Berhad
ASEAN Retakaful International (L) Ltd^
P.T. Syarikat Takaful Indonesia* #
Subsidiary of P.T. Syarikat Takaful Indonesia
P.T. Asuransi Takaful Umum* #
P.T. Asuransi Takaful Keluarga* #
Islamic banking
51
100
Dormant
100
100
Manager of Amanah Saham
Bank Islam
100
100
Foreign currency clearing house
100
75.50
Provides nominee services
100
100
Provides trust and related services
100
100
Dormant
100
100
Family and general Takaful business
67.93
69.56
Offshore retakaful business
42.85
43.89
Holding company
38.04
38.95
General Takaful business
38.04
38.95
Family Takaful business
38.04
38.95
13.Investments in subsidiaries (cont’d)
Effective
ownership
Name of Company
interest
2007
2006
%
%
In addition, the Group had also acquired the remaining 49% interest in BIMB Securities Sdn Bhd for a total consideration
of approximately RM54.4 million resulting in BIMB Securities Sdn Bhd being a wholly owned subsidiary of the Group.
115
BIMB Securities (Holdings) Sdn. Bhd.
Investment holding company
100
100
Subsidiary of BIMB Securities (Holdings) Sdn. Bhd.
BIMB Securities Sdn. Bhd.
Stockbroking company
100
51
Subsidiary of BIMB Securities Sdn. Bhd
BIMSEC Asset Management Sdn. Bhd.
Provides investment management services
100
51
BIMSEC Nominees (Tempatan) Sdn. Bhd
100
51
BIMSEC Nominees (Asing) Sdn. Bhd.
100
51
Syarikat Al-Ijarah Sdn. Bhd.
Leasing of assets
100
100
Pembiayaan Perumahan Nasional Sdn. Bhd.
Dormant
51
51
BIMB Venture Capital Sdn. Bhd.
Provides advisory, consultancy
100
100
and related services in investment
BIMB Musyarakah Satu Sdn. Bhd.
Venture capital company and
100
100
investment company
+The auditors’ report on the financial statements of Syarikat Takaful Malaysia Berhad (“STMB”) included an emphasis of
matter on the adjustments made to the opening balances as at 1 July 2006 arising from the subsequent clearance of the
numerous unrecorded differences identified in the previous year.
* Incorporated in Indonesia.
^Audited by a firm of auditors affiliated with KPMG Desa Megat & Co.
# Audited by a firm of auditors other than KPMG Desa Megat & Co.
During the financial year, Bank Islam Malaysia Berhad (“BIMB”) issued a total of 845,490,000 new ordinary shares of RM1
each to Dubai Financial LLC and Lembaga Tabung Haji at a total cash consideration (net of expenses) of RM1,014.1
million. Arising from this, the Group’s interest in BIMB was diluted from 100% to 51% and a gain of RM631.5 million arising
from this dilution of interest was recognised.
14.Investments in associates
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
At cost
Unquoted shares in Malaysia
7,492
5,962
5,019
5,019
Less : Share of post-acquisition losses (2,473)
(2,473)
-
: Accumulated impairment losses (4,870)
(3,340) (4,870)
(4,870)
149
149
149
149
The principal activities of the associates, incorporated in Malaysia (unless otherwise stated), and the interest of the Group
are as follows:
Effective
ownership
Group
interest
2007
2006
%
%
116
MySPEED.com Sdn Bhd
e-business activities
-
20.54
Islamic Banking and
Finance Institute Malaysia Sdn. Bhd.
Provides training and consultancy services
48.00
48.00
Arabian Malaysian Takaful Company #
Health and family Takaful business
17.04 17.04
#
Incorporated in Bahrain
On 14 March 2007, the investment in an associated company, MySPEED.com Sdn Bhd has been fully disposed for a purchase consideration of RM950,000.
15. Property, plant and equipment
Furniture,Computer
Group
**Land
fixtures, equipment
and
andOffice
Motor
and
building
fittings equipment
vehicles
softwareTotal
CostRM’000RM’000RM’000RM’000RM’000RM’000
At 1 July 2005
Additions
Reclassifications
Disposals
Exchange difference
At 30 June 2006/1 July 2006
Additions
Reclassifications
Disposals Written off Exchange difference
75,692
20,341
(18,936)
(559)
-
108,560
7,375
10,576
(150)
(135)
5,868
967
(421)
(2,337)
(9)
134,588
16,982
4,555
-
-
422,874
46,667
(27)
(3,046)
(197)
103,314
14,666
(5,346)
(49)
-
(2,444)
76,538
9,346
8,916
(94)
-
(181)
126,226
21,747
(1,350)
(59)
(3,969)
1,075
4,068
573
-
(881)
-
104
156,125
10,452
(2,220)
-
(7,644)
-
466,271
56,784
5,366
(1,083)
(11,613)
(1,446)
110,141
94,525
143,670
3,864
156,713
508,913
19,921
-
19,921
2,075
-
(46)
(43)
38,359
-
38,359
7,843
-
(331)
-
87,331
-
87,331
13,813
(128)
(50)
(128)
4,193
-
4,193
553
(2,262)
(338)
(7)
102,033
-
102,033
9,472 -
-
-
251,837
251,837
33,756
(2,390)
(765)
(178)
At 30 June 2006/1 July 2006
Accumulated depreciation
Depreciation of the year
Impairment loss Disposals Exchange difference
21,907
-
21,907
5,799
11,424
(169)
(2,145)
45,871
-
45,871
28,498
-
(5)
(429)
100,838
-
100,838
11,467
-
(44)
922
2,139
-
2,139
837
-
(698)
(10)
111,505
-
111,505
60
-
-
-
282,260
282,260
46,661
11,424
(916)
(1,662)
At 30 June 2007
25,392
11,424
36,816
73,935
-
73,935
113,183
-
113,183
2,268
-
2,268
111,565
-
111,565
326,343
11,424
337,767
Carrying amounts
At 1 July 2005
78,245
37,333
21,229
1,675
32,555
171,037
At 30 June 2006/1 July 2006
81,407
30,667
25,388
1,929
44,620
184,011
At 30 June 2007
73,325
20,590
30,487
1,596
45,148
171,146
117
At 30 June 2007
Depreciation and impairment loss
At 1 July 2005
Disposals Reclassifications
Exchange difference
98,166
1,002
4,199 -
(53)
15. Property, plant and equipment (cont’d)
** Land and building
Buildings
Building improvements
FreeholdLeaseholdFreeholdLeasehold
in
and
land
land
building
building progress
renovationsTotal
CostRM’000RM’000RM’000RM’000RM’000RM’000RM’000
At 1 July 2005
11,282
15,211
31,549
4,474
16,109
19,541
98,166
Additions
490
-
28
-
261
223
1,002
Reclassifications
-
-
-
-
-
4,199
4,199
Exchange difference
-
-
-
-
-
(53)
(53)
118
At 30 June 2006/1 July 2006
Additions
Reclassifications
Disposals
Exchange difference
11,772
454
-
(49)
(743)
15,211
-
-
-
(29)
31,577
-
-
-
-
4,474
-
-
-
-
16,370
-
12
-
-
23,910 103,314
14,212
14,666
(5,358)
(5,346)
-
(49)
(1,672)
(2,444)
At 30 June 2007
11,434
15,182
31,577
4,474
16,382
31,092
110,141
Depreciation and impairment loss
At 1 July 2005
Reclassifications
Exchange difference
-
-
-
-
-
-
49
-
49
4
-
-
7,284
-
7,284
774
(6)
-
900
-
900
90
6
-
1,184 -
1,184 105
-
-
10,504
-
10,504
1,102
(46)
(43)
19,921
-
19,921
2,075
(46)
(43)
At 30 June 2006/1 July 2006
Impairment loss
Disposals Exchange difference
-
-
-
-
-
-
-
53
-
53
31
-
-
-
8,052
-
8,052
719
-
(169)
(20)
996
-
996
(122)
-
-
-
1,289
-
1,289 -
11,424
-
-
11,517
-
11,517
5,171
-
-
(2,125)
21,907
-
21,907
5,799
11,424
(169)
(2,145)
At 30 June 2007
-
-
-
Carrying amounts
At 1 July 2005 11,282
84
-
84
8,582
-
8,582
874
-
874
1,289
11,424
12,713
14,563
-
14,563
25,392
11,424
36,816
15,162
24,265
3,574
14,925
9,037
78,245
At 30 June 2006/1 July 2006
11,772
15,158
23,525
3,478
15,081
12,393
81,407
At 30 June 2006
11,434
15,098
22,995
3,600
3,669
16,529
73,325
15. Property, plant and equipment (cont’d)
Long termOfficeRenovation
leasehold equipment
work-in
Company
land* and computer
progressTotal
RM’000RM’000RM’000RM’000
Cost
At 1 July 2005/30 June 2006/1 July 2006
666 -
-
666
Additions
-
47
352
399
Disposal
(666)
-
-
(666)
At 30 June 2007
-
47
352
399
Carrying amount
At 1 July 2005/30 June 2006
666
-
-
666
-
47
352
399
At 30 June 2007
*The land was registered under the name of a subsidiary, Bank Islam Malaysia Berhad.
119
552,864
2,557,963
3,110,827
537,684
2,274,944
2,812,628
16. General Takaful and Family Takaful funds’ balance sheet as at 30 June 2007
2007
2006
General
Family
General
Family
TakafulTakafulTakafulTakaful
fund
fundTotal
fund
fundTotal
RM’000RM’000RM’000RM’000RM’000RM’000
Assets
Property, plant and Equipment
7
7,977
7,984
41,817
183,494
225,311
Investment properties
40,376
200,053
240,429
- - Investments
414,809 2,160,969 2,575,778
382,686 1,967,868 2,350,554
Investments-linked business
- 37,682
37,682
- 25,747
25,747
Financing receivables
2,700
6,053
8,753
4,616
13,445
18,061
Receivables
70,234
91,352
161,586
103,484
76,896
180,380
Cash and bank balances
24,738
53,877
78,615
5,081
7,494
12,575
16. General Takaful and Family Takaful funds’ balance sheet as at 30 June 2007 (cont’d)
2007
2006
General
Family
General
Family
TakafulTakafulTakafulTakaful
fund
fundTotal
fund
fundTotal
RM’000RM’000RM’000RM’000RM’000RM’000
Liabilities
Payables
128,202
116,793
244,995
155,113
71,322
226,435
164,294
85,190
249,484
94,074
45,498
139,572
Investment-linked business liabilities
- 4,569
4,569
- 1,071
1,071
292,496
206,552
499,048
249,187
117,891
367,078
General Takaful and Family Takaful
participants’ funds
260,368
2,351,411
2,611,779
288,497
2,157,054
2,445,551
552,864
2,557,963
3,110,827
537,684
2,274,945
2,812,628
120
17.Deposits from customers
(i) By type of deposit
Group
2007
2006
RM’000RM’000
Non-mudharabah fund
Demand deposits 4,555,125 3,555,146
Savings deposits 1,589,308 1,422,174
Negotiable Islamic Debt Certificates (NIDC) 4,596,717 2,480,933
Others
35,222
24,897
10,776,372
Mudharabah fund
Savings deposits
467,390
General investment deposits 2,015,116
Specific investment deposits 4,129,132
Others
623
7,483,150
6,665,443
6,612,261
454,387
2,417,239
3,784,717
9,100
17,388,633 14,148,593
17.Deposits from customers (cont’d)
(ii) By type of customer
Group
2007
2006
RM’000RM’000
Government and statutory bodies 3,309,885 2,876,855
Business enterprises 6,097,683 5,433,895
Individuals 2,549,629 2,292,431
Others 5,431,436 3,545,412
17,388,633 14,148,593
18.Deposits and placements of banks and other financial institutions
Group
2007
2006
RM’000RM’000
33,991
63,028
19.Other liabilities
GroupCompany
2007
2006
2007
2006
Restated
Clients’ and dealers’ credit balances
18,306
3,987
- Sundry payables
242,231
291,648
2,556
6,359
Profit equalisation reserve
20
57,402
9,490
- Amount due to subsidiaries
a
-
- 7,311
7,169
317,939
305,125
9,867
13,528
Note a
The amount due to subsidiaries is unsecured, not subject to financing charge and has no fixed terms of repayment.
Mudharabah Fund:
Licensed banks
121
20. Profit equalisation reserve (“PER”)
Group
2007
2006
RM’000RM’000
At 1 July
9,490
Recognised in the income statement
47,921
9,308
Transferred from general allowance
-
3,150
Transferred to profit payable to depositor
-
(2,968)
Exchange difference
(9)
122
At 30 June
57,402
9,490
21.Amount due to a corporate shareholder
The Company had entered into an agreement dated 2 December 2005 with its substantial shareholder Lembaga Tabung
Haji (“LTH”), for LTH to advance RM280 million as Shareholder’s Advance (“SA”) under a Qardul Hassan agreement. The
SA was fully drawn down in December 2005 and was subsequently utilised by the Company to subscribe for new ordinary
shares of RM1 each in Bank Islam Malaysia Berhad. RM206.5 million of the SA was repaid through allotment and issuance
of the Company’s shares to LTH pursuant to the rights issue exercise by the Company during the year. The remaining
RM73.5 million was repaid on 30 April 2007.
22.Capital and reserve
Share capital
Group and Company
2007
2006
RM’000RM’000
Authorised:
Ordinary shares of RM1 each
One Special Rights Redeemable Preference Share of RM1
2,000,000
*
2,000,000
*
2,000,000
2,000,000
Issued and fully paid:
Ordinary shares of RM1 each on issue at 1 July
Issued during the year
562,965
328,425
562,965
-
On issue at 30 June
891,390
562,965
* Represents RM1
22.Capital and reserve (cont’d)
During the financial year, the Company issued a total of 328,424,896 new ordinary shares of RM1 each which comprised
as follows:
(a) pursuant to the Company’s rights issue, 281,482,480 new ordinary shares were issued at a cash consideration of
approximately RM281.5 million for working capital purposes; and
(b) pursuant to the Company’s acquisition of 49% interest in BIMB Securities Sdn Bhd, 46,942,416 new ordinary shares
of RM1 each were issued for a total consideration of approximately RM54.4 million.
Section 108 tax credit
Subject to agreement by the Inland Revenue Board, the Company has sufficient Section 108 tax credit and tax exempt
income to frank approximately RM79,002,000 if paid out as dividends.
Income derived from investment of:
(i) general investment deposits
(ii) other deposits
144,812
708,722
193,116
595,540
853,534
788,656
(i)Income derived from investment of general investment deposits
Group
2007
2006
RM’000RM’000
Financing income and hibah
Securities:
- Held-for-trading
- Available-for-sale
- Held-to-maturity
Money at call and deposit with financial institutions
111,014
147,656
46
8,874
138
15,951
3,726
18,055
13,255
Amortisation of premium less accretion of discounts
136,023
8,995
182,692
2,371
145,018
185,063
123
23.Income derived from investment of depositors’ funds
Group
2007
2006
RM’000RM’000
23.Income derived from investment of depositors’ funds (cont’d)
(i)Income derived from investment of general investment deposits (cont’d)
Group
2007
2006
RM’000RM’000
Other dealing income
Net gain from foreign exchange transactions
Net (loss)/gain from sale of securities held-for-trading
Net gain on revaluation of securities held-for-trading
-
(404)
50
3,116
3,507
82
Other operating income
Net gain from sale of securities available-for-sale
Gross dividend income from securities:
quoted in Malaysia
144,664
191,768
74
1,348
74
-
144,812
193,116
124
(ii)Income derived from investment of other deposits
Group
2007
2006
RM’000RM’000
Securities:
- Held-for-trading
- Held-to-maturity
536,864
479,998
306
854
14,313
97,929
15,592
16,368
53,890
650,266
57,880
565,848
11,917
Net gain from foreign exchange transactions
Net (loss)/gain from sale of securities held-for-trading
708,146
577,765
-
(268)
348
7,598
4,202
252
Net gain from sale of securities available-for-sale
708,226
496
589,817
5,723
708,722
595,540
24.Income derived from investment of shareholders’ funds
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
5,281
3,632
4,605
9,462
-
24,850
14,865
55,946
3,385
67,095
-
24,435
-
-
-
566
38
288
100,942
5,007
98,547
7,530
5,171
-
9,788
-
Net gain/(loss) from foreign exchange transactions
Net gain from sale of securities held-for-trading
105,949
106,077
5,171
9,788
15,572
11,572
7,407
(10,648)
10,925
-
-
-
-
-
140,500
106,354
5,171
9,788
140,500
106,354
5,171
9,788
2,160
2,835
1,725
(1,344)
3,508
1,242
751
1,318
-
-
-
-
170,837
133,023
-
-
1,422
286
643
57
-
950
809
1,981
2,543
-
1,690 -
907
466
-
-
-
-
809
1,690
-
1,654
65,762
20
-
631,507
8,903
-
63,486
-
-
-
12,507
10,525
-
-
6,070
-
5,324
17,589
-
594
1,029,451
327,297
30,188
29,126
Balance brought forward
Balance carried forward
Other operating income
Net gain/(loss) from sale of securities available-for-sale
Unrealised foreign exchange gain on foreign
currency cash balances
Reversal of allowance for diminution in value of investments
Profits from General Takaful and Family Takaful funds
attributable to the Group
Gross dividend income from securities:
Quoted in Malaysia
Unit trust
Unquoted in Malaysia
Unquoted outside Malaysia
Gain on disposal of unquoted investments in Malaysia
Gain on disposal of associate
Gross dividend income
- subsidiary companies
Fees and commission
Net gain on disposal of property, plant and equipment
Hibah Gain from dilution of interest in a subsidiary
Others
125
Securities:
- Held-for-trading
- Held-to-maturity
25.Allowance for losses on financing
Group
2007
2006
RM’000RM’000
Allowance for bad and doubtful financing:
- Specific allowance
- Made in the financial year
- Written back
- General allowance
- Made in the financial year
- Written back
- Transfer
- Deferred allowance for bad and doubtful financing expensed off
Bad debts and financing:
- Recovered
Recoverable from Danaharta
Exchange difference
126
275,389
(228,208)
1,212,296
(83,273)
3,074
-
-
-
29,437
(6,298)
(11,342)
167,498
(21,831)
(1,616)
(2,069)
(18,799)
10,959
24,739
1,300,478
26.Impairment losses
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Securities:
Held-to-maturity
Available-for-sale
Exchange difference
-
(75,002)
-
55,887
104,254
980
-
-
-
Investment in associates
Investment in a subsidiary (“BIMB”)
(75,002)
-
-
161,121
3,340
-
-
-
-
4,870
156,027
(75,002)
164,461
-
160,897
- -
27.Income attributable to depositors
Group
2007
2006
RM’000RM’000
- Mudharabah Fund
- Non-Mudharabah Fund
- Mudharabah Fund
233,238
163,557
209,361
132,116
5,620
22,628
402,415
364,105
28. Personnel expenses
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Salaries and wages
Allowance and bonuses
Employees’ Provident Fund
Directors’ remuneration
Others
177,676
58,168
25,345
2,344
6,635
159,914
27,112
21,734
1,988 22,759
450
33
71
1,717
1,240
124
-
270,168
233,507
3,511
124
Share option plan
The Company offers vested share options over ordinary shares to Executive Directors and all employees of the Group who
have been confirmed in writing and are in the employment of the Group. The balance in the number of share options held
by employees are as follows:
Company
2007
2006
RM’000RM’000
Outstanding at 30 June
Terms of the options outstanding at 30 June 2007:
50,913
50,913
Expiry dateExercise priceNumber
21 August 2007
21 August 2007
RM2.13 45,868,500
RM2.43 5,044,000
50,912,500
No share options were granted by the Company or exercised by the option holders during the financial year.
127
29.Other overhead expenses
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Promotion
Establishment
General expenses
13,767
64,216
130,630
13,299
38,402
116,298
18
228
1,556
10
229
2,018
208,613
167,999
1,802
2,257
(10)
7,313
-
-
808
320
2,450
30,518
7,644
4,741
319
11
-
23,296
-
3,145
13
-
-
-
-
-
13
-
128
Included in other overhead expenses are:
Allowance for doubtful debts
Auditors’ remuneration
- Auditors of the Company - Other auditors
Goodwill written off
Rental of properties
Property, plant and equipment written off
Rental of equipment
30.Directors’ and Shariah Supervisory Council members’ remuneration
(a) (i)Aggregate remuneration of Directors of the Company categorised into appropriate components are as follows:
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Executive Director:
Allowances
Salaries, bonuses and EPF contributions
Other remuneration – Gratuity
Benefits-in-kind
62
1,113
160
218
284
1,087
70
198
-
1,113
160
218
14
51
-
1,553
1,639
1,491
65
30.Directors’ and Shariah Supervisory Council members’ Remuneration (cont’d)
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Non-Executive Directors:
Fees and allowances
791
349
226
162
Total
2,344
1,988
1,717
227
Total (excluding benefits-in-kind)
2,126
1,790
1,499
227
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
(ii) Shariah Supervisory Council
142
130
-
-
Number of Executive Directors
Below RM100,000
More than RM1,000,000
Number of Non-Executive Directors
Below RM100,000
RM100,001 and RM400,000
Group
2007
2006
-
1
1*
-
8
1
7
1
Total
10
9
(ii) Number of Shariah Supervisory Council Members
6
6
* Re-designated as an Executive Director of the Company on 9 June 2007.
31.Finance cost
Group
2007
2006
RM’000RM’000
Hibah 13,370
6,000
Payment made to LTH for Hibah charges in relation to the RM280 million advance made to the Company.
129
(b) (i) The number of Directors of the Company, whose remuneration are paid/payable for their services, fall within the following bands:
32.Tax expense
(i) Major components of tax expense
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Current tax expense:
Malaysia
- current year
- prior years
130
8,668
2,648
4,036
22,065
6,522
-
6,500
2,392
Deferred tax expense:
Origination and reversal of temporary differences
11,316
26,101
6,522
8,892
(2,790)
4,353
-
-
8,526
30,454
6,522
8,892
(ii)Reconciliation of effective tax expense
GroupCompany
2007
2006
2007
2006
RM’000RM’000RM’000RM’000
Profit/(Loss) before tax
928,866 (1,177,939)
250,794
(134,683)
(193,191)
69,676
13,886
(604)
Income tax using Malaysia tax rate of 27% (2006: 28%)
Deferred tax assets (recognised)/not recognised
Non-taxable income
Non-deductible expenses
Effect of current year tax loss not recognised
Other items
24,875
(140,152)
(329,823)
216,177
(1,163) 123,563
-
(365)
6,716
-
(511)
308
-
9
(39,243)
(60)
45,797
6
Under provision in prior years
5,878
2,648
8,389
22,065
6,522
-
6,500
2,392
Tax expense
8,526
30,454
6,522
8,892
With effect from year of assessment 2007, corporate tax rate is at 27%. The Malaysian Budget 2007 also announced
the reduction of corporate tax rate to 26% in 2008.
33.Earnings per share
Basic earnings per share
Basic earnings per share of the Company is calculated by dividing the net profit for the year by the number of ordinary
shares in issue during the year.
2007
2006
RM’000RM’000 Net profit/(loss) for the year
799,322
(1,230,008)
Weighted average number of ordinary shares
805,004
562,965
Basic earnings/(loss) per share (sen)
99.29
(218.49)
Diluted earnings per share
The assumed conversion of ESOS in the current year has an anti-dilutive effect on the loss per share of the Group and is
therefore not disclosed.
Issued ordinary shares at 1 July
Effect of shares issued in 31 March 2007
562,965
242,039
562,965
-
Weighted average number of ordinary shares at 30 June
805,004
562,965
34.Dividends
Dividends recognised by the Company are:
SenTotal
per share
amountDate of payment
2006RM’000
Final 2005 ordinary
2.5
10,133
30 December 2005
After the balance sheet date, the following dividends were proposed by the Directors. These dividends will be recognised
in subsequent financial reports upon approval by the shareholders.
Weighted average number of ordinary shares
Group
2007
2006
RM’000RM’000
131
34.Dividends (cont’d)
SenTotal
per share
amount
2007 (net of tax)RM’000
Final ordinary
1.5
13,192
35.Related party transactions
(i)Identity of related parties
132
For the purposes of these financial statements, parties are considered to be related to the Group if the Group has
the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial
and operating decisions, or vice versa, or where the Group and the party are subject to common control or common
significant influence. Related parties may be individuals or other entities.
The Group has a related party relationship with its subsidiaries (see note 13) and associate company (see note 14).
Company
2007
2006
RM’000RM’000
Expenditure
Income attributable on deposits placed
Finance cost
Hibah
446
4,255
13,370
297
10,157
-
Amounts due from
Others
511
363
25,146
100,000
19 3,561
100,000
-
Amounts due to
Current account and investment deposits
Subordinated financing
Others
(ii)Related party transactions
Significant transactions and balances with other related parties other than those disclosed elsewhere in the financial
statements are as follows:
Group
2007
2006
RM’000RM’000
Rental of premises paid to institutional shareholders:
- Lembaga Tabung Haji
Brokerage fees paid by institutional shareholders:
- Lembaga Tabung Haji
2,260
3,064
383
287
35. Related party transactions (cont’d)
A Director is authorised to trade, under his own discretion, though a trading account co-owned by the Director and a
subsidiary. Under the arrangement, any trading loss is borne by the Director, whereas any gain is equally shared by the
Director and the subsidiary. Transactions entered into through this trading account are as follows:-
Group
2007
2006
RM’000RM’000
Sales of securities
1,967
2,211
1,390
1,186
36.Commitments and contingencies
In the normal course of business, Bank Islam Malaysia Berhad and its subsidiaries make various commitments and incur
certain contingent liabilities with legal recourse to their customers. No material losses are anticipated as a result of these
transactions.
Risk Weighted Exposure arising from the commitments and contingencies of this subsidiary as at 30 June are as
follows:
133
Direct credit substitutes
Transaction-related contingent items
Short term self-liquidating trade related contingencies
Assets sold with recourse and commitments with certain drawdown
Obligation under underwriting agreement
Foreign exchange related contracts
Miscellaneous
347,830
411,564
708,495
119
99,000
1,965,760
1,404,455
347,830
205,782
141,699
119
49,500
39,315
497,218
334,526
203,861
20,648
119
49,500
7,863
468,775
4,937,223
1,281,463
1,085,292
Credit Risk
Principal equivalent weighted
amount amount amount
2007 RM’000RM’000RM’000
36.Commitments and contingencies (cont’d)
Credit Risk
Principal equivalent weighted
amount amount amount
2006 RM’000RM’000RM’000
Direct credit substitutes
Transaction-related contingent items
Short term self-liquidating trade related contingencies
Assets sold with recourse and commitments with certain drawdown
Obligation under underwriting agreement
Foreign exchange related contracts
Miscellaneous
251,029
323,360
851,528
60,925
89,000
1,361,105
1,089,434
251,029
161,680
170,306
60,925
44,500
27,222
468,037
238,060
160,078
14,389
60,925
44,500
5,444
-
4,026,381
1,183,699
523,396
134
* The credit equivalent amount is arrived at using the credit conversion factor as per Bank Negara Malaysia guidelines.
2007
2006
CreditCredit
Principal equivalent
Principal equivalent
amount
amount*
amount
amount*
RM’000 RM’000 RM’000 RM’000
Foreign exchange contracts
- Forward contracts
- Others
1,522,889
442,871
30,458
8,857
1,155,980
205,125
23,120
4,102
Total
1,965,760
39,315
1,361,105
27,222
Foreign exchange related contracts are subject to market risk and credit risk.
Market risk
Market risk is the potential change in value caused by movement in market rates or prices. The contractual amounts
stated above provide only a measure of involvement in these types of transactions and do not represent the amounts
subject to market risk. Exposure to market risk may be reduced through offsetting on and off-balance sheet positions.
Credit risk
Credit risk is a risk that a counterparty will be unable to meet the terms of a contract in which the Group has a gain
position.
37.Financial risk management policies
Operational risk
This risk is defined as the risk of loss arising from inadequate or failed internal processes, people and systems and
external events. In managing this risk a dedicated team has been established. The team is responsible for identification,
assessment and measurement, control framework, monitoring and reporting of operational risks.
Credit risk
Credit risk is the potential loss of revenue and principal in the form of specific allowances as a result of defaults by the
customers or counter parties through the financing, dealing and investing activities.
The primary exposure to credit risk arises from financing activities. Credit policy to govern the activities is rigorously being
enhanced with the objectives of improving and preserving the quality of assets originated. This is in line with the on-going
organisation transformation.
Under the credit process flow, credit administration, credit control, review and analysis are performed independently of
individuals involved in business origination. In addition, an independent evaluation of credit proposal before approval has
been established for all proposal involving corporate and commercial. This function is performed by the risk management
division.
Credit risk arising from dealing and investing activities are managed by the establishment of limits which includes counter
parties limits and permissible acquisition of not less than A-rated private entities’ instruments. Furthermore, the dealing
and investing activities are monitored by an independent middle office unit.
Underwriting risk
Underwriting risk includes the risk of incurring higher claims costs than expected owing to the random nature of claims
and their frequency and severity and the risk of change in legal or economic conditions or behavioural patterns affecting
takaful pricing and conditions of takaful or retakaful cover. This may result in the situation of having either received too
little contribution for the risk it has agreed to underwrite and hence has not enough funds to invest and pay claims, or
claims are in excess of those expected.
The Group seeks to minimise underwriting risks with a balance mix and spread of business between classes of business
and by observing underwriting guidelines and limits, conservative estimation of the claims provisions and high standards
applied to security at retakaful.
135
37.Financial risk management policies (cont’d)
Market risk
Market risk is the risk of loss arising from the adverse movement in the level of market prices or rates. The market risk
components are foreign exchange risk, profit rate risk and equity risk.
i) Foreign exchange risk
This risk refers to the adverse exchange rate movements on foreign currency positions taken by the Group. Foreign
currency open position is monitored against predetermined position limits and cut-loss limits.
ii) Profit rate risk
This risk refers to volatility in the net profit income as a result of changes in the levels of profit rate and shift in the
composition of the assets and liabilities. The profit rate risk, however, is self-mitigated when most of the financing
assets are based on fixed rate while profit paid to depositors are not contractual.
136
Profit paid to depositors/investors depends on the profit generated from the Bank’s activities and the profit sharing
distribution.
The Group is not exposed directly to interest rate risk because interest is prohibited under Islamic banking. The
indirect interest rate risk exists arising from competition with other banks. This is managed by regularly reviewing
the Bank profit rates.
iii) Equity risk
Equity risk refers to the adverse movements in the price of equities on equity positions. Equity position is marked to
market and monitored by the Risk Management Division and reported to the Risk Management Committee.
Liquidity risk
Liquidity risk is related to the risk arising mainly from withdrawals of deposits. In managing this, the Group is adopting
the liquidity framework introduced by Bank Negara Malaysia which ascertain liquidity based on the contractual and
behavioural cash flow of assets, liabilities and off-balance sheet commitments.
The Group is exposed to various risks associated with the effects of fluctuations in the prevailing levels of market profit rates on its financial position
and cash flows. The assets and liabilities at carrying amount are categorised by the earlier contractual repricing or maturity dates.
5,064,861
1,113,759
- 22,627,226
-
-
(377,670) (3,155,192) 1,180,977 2,899,099
-
33,991
109,189
3,436,051
1,003,724 11,579,500
-
-
-
- 17,388,633
- 20,967,864
- 1,659,362
-
-
-
-
- 3,436,051
6,484,087
1,003,724
386,170 22,627,226
1,113,759 1,003,724 9,920,138
-
- 1,659,362
-
-
-
5,240,160
3,920,043
(377,670) (3,155,192) 1,180,977 2,899,099
4,129,285
4,129,285
-
-
-
-
1,113,759
2,376,447
Net maturity mismatch
-
5,064,861
2,857,859 1,943,099
Total liabilities and shareholders’
equity
On-balance sheet profit
sensitivity gap
Off-balance sheet profit
sensitivity gap
2,857,859 1,943,099
-
-
-
-
-
4,129,285
2,714,679 1,943,099
33,991
109,189
-
974,580
8,075,897 1,653,929
Total liabilities
Shareholders’ equity
Liabilities
Bills and acceptance payable
Other liabilities
2.70
2.56
Effective
Up to 1
> 1-3
> 3-12
1-5Over 5Non profitTrading
profit
As at 30 June 2007
month
months
months
years
years sensitive
bookTotal
rate
RM’000RM’000RM’000RM’000RM’000RM’000RM’000RM’000
%
Assets
Cash and short-term funds and
deposits and placements with banks
5,645,044
237,979
-
-
-
367,529
48,620 6,299,172
3.12
Securities
- Held-for-trading
-
-
-
-
-
24,000 337,550
361,550
6.44
- Held-to-maturity
-
11,650
-
78,832
90,702
-
-
181,184
0.78
973,340
672,274
368,408
772,215
660,385
13,475
- 3,460,097
4.14
- Performing
1,457,513
732,026
606,172 1,525,400 3,168,956
-
- 7,490,067
8.86
- Non-performing
-
-
-
-
-
943,220
-
943,220
Other assets
-
-
-
-
- 3,891,936
- 3,891,936
38. Profit rate risk
137
138
915,943
Total liabilities
Shareholders’ equity
Net maturity mismatch
On-balance sheet profit
sensitivity gap
Off-balance sheet profit
sensitivity gap
Total liabilities and
shareholders’ equity
Liabilities
Other liabilities
981,101
-
-
167,822
-
-
-
-
-
(770,996)
-
-
614,876
(770,996)
614,876
2,934,123 1,686,939
2,934,123 1,686,939
-
-
63,028
100,919
-
2,770,176 1,686,939
(976,171)
-
(976,171)
2,275,344
2,275,344
-
-
-
-
2,275,344
1,299,173
-
-
318,072
-
-
491,533
3,904,664
-
256,588
Assets
Cash and short-term funds and
deposits and placements with banks
2,283,519
Securities
- Held-for-trading
-
- Held-to-maturity
-
559,530
- Performing
1,061,615
- Non-performing
-
Other assets
-
-
102,466
348,545
-
-
-
-
-
173,047
-
173,047
1,436,829
1,436,829
-
-
-
-
1,436,829
1,731,517
4,357,527
-
4,357,527
498,612
498,612
-
-
-
-
498,612
4,828,989
8,910,153
8,882,011
28,142
-
-
3,401,318
5,480,693
4,380,791
1,208,358 4,377,978
-
-
-
804,513
-
- 3,576,278
-
41,362
481,797
-
7,796,874
804,513
3,576,278
279,176
143,828
2,199,477
2,941,854
63,028
100,919
3,401,318
- 17,742,000
- 17,713,858
-
28,142
-
-
-
- 14,148,593
680,923 17,742,000
-
-
-
279,176
-
-
401,747
2.67
-
2.49
8.33
5.64
6.81
3.10
Effective
Up to 1
> 1-3
> 3-12
1-5Over 5Non profitTrading
profit
As at 30 June 2006
month
months
months
years
years sensitive
bookTotal
rate
RM’000RM’000RM’000RM’000RM’000RM’000RM’000RM’000
%
38. Profit rate risk (cont’d)
39.Fair value of financial assets and liabilities
Financial instruments comprise financial assets, financial liabilities and off-balance sheet instruments. Fair value is the
amount at which the financial assets could be exchanged or a financial liability settled, between knowledgeable and
willing parties in an arm’s length transaction. The information presented herein represents the estimates of fair values as
at the balance sheet date.
Where available, quoted and observable market prices are used as the measure of fair values. Where such quoted and
observable market prices are not available, fair values are estimated based on a range of methodologies and assumptions
regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows and other
factors. Changes in assumptions could materially affect these estimates and resulting fair value estimates.
Fair value information for non-financial assets and liabilities are excluded as they do not fall within the scope of FRS
1322004, Financial Instruments: Disclosure and Presentation which requires the fair value information to be disclosed.
The following table summarises the carrying and fair values of the financial assets and liabilities on the balance sheet
date:
Carrying valueFair value
2007
2006
2007
2006
GroupRM’000RM’000RM’000RM’000
Financial liabilities
Deposits and placements of banks and other financial
institutions
6,011,713
2,871,812
6,011,713
2,871,812
287,459
59,476
287,459
59,476
361,550
181,184
3,460,097
8,433,287
279,176
143,828
2,199,477
8,601,387
361,550
172,376
3,460,097
8,603,748
279,176
143,828
2,199,477
8,769,849
17,388,633 14,148,593 17,388,633 14,148,593
33,991
109,189
63,028
100,919
33,991
109,189
63,028
100,919
Financial assets
Cash and short-term funds
Deposits and placements with banks and other financial
institutions
Securities
Held-for-trading
Held-to-maturity
Available-for-sale
139
39.Fair value of financial assets and liabilities (cont’d)
Carrying valueFair value
2007
2006
2007
2006
CompanyRM’000RM’000RM’000RM’000
Financial assets
Cash and short-term funds
Securities
Held-for-trading
Available-for-sale
25,146
12,605
25,146
12,605
20,968
11,812
100,000
15,527
12,319
100,000
20,968
11,812
100,000
15,527
12,319
100,000
The fair value of the Group’s financial instruments which include cash and short-term funds, deposits and placements with
banks and other financial institutions and short-term borrowings are not materially sensitive to shifts in market profit rate
because of the limited term to maturity of these instruments.
As such, the carrying value of these financial assets and liabilities at balance sheet date approximate their fair values.
The fair values are based on the following methodologies and assumptions:
140
Deposits and placements with banks and other financial institutions
For deposits and placements with financial instruments with maturities of less than six months, the carrying value is a
reasonable estimate of fair values. For deposits and placements with maturities six months and above, the estimated
fair values are based on discounted cash flows using prevailing money market profit rates at which similar deposits and
placements would be made with financial instruments of similar credit risk and remaining period to maturity.
Securities held-for-trading and securities available-for-sale
The estimated fair values are generally based on quoted and observable market prices. Where there is no ready market in
certain securities, fair values have been estimated by reference to market indicative yields or net tangible asset backing
of the investee.
Their fair value is estimated by discounting the estimated future cash flows using the prevailing market rates of financings
with similar credit risks and maturities. The fair values are represented by their carrying value, net of specific allowance
and income-in-suspense, being the recoverable amount.
39.Fair value of financial assets and liabilities (cont’d)
For deposits from customers with maturities of less than six months, the carrying amounts are a reasonable estimate for
their fair values. For deposits with maturities of six months or more, the fair values are estimated using discounted cash
flows based on prevailing market rates for similar deposits from customers.
The estimated fair values of deposits and placements of banks and other financial institutions with maturities of less
than six months approximate the carrying values. For deposits and placements with maturities of six months or more,
the fair values are estimated based on discounted cash flows using prevailing money market profit rates for deposits and
placements with similar remaining period to maturities.
The estimated fair values of bills and acceptance payables with maturity of less than six months approximate their
carrying values. For bills and acceptance payable with maturities of six months or more, the fair values are estimated
based on discounted cash flows using prevailing market rates for borrowings with similar risks profile.
Contracted but not provided for in the financial statements
9,845
16,335
41.Contingent liability
The 2008 Budget has proposed to expand Section 60AA of the Income Tax Act 1967 that include the provision that share
of profits distributed from the Family Takaful Fund and the General Takaful Fund are allowed as a tax deduction with effect
only from the year of assessment 2008. The Group’s Takaful subsidiary, Syarikat Takaful Malaysia Berhad (“STMB”), had
in previous years computed its income tax provision on the basis that the share of profits distributed from the respective
Takaful Funds are allowed as tax deduction.
Based on advice of STMB’s external tax advisors, STMB’s directors has represented that the Malaysian Takaful Association
(“MTA”) has made an appeal to the Ministry of Finance (“MOF”) for the above proposal to be applicable on a retrospective
basis. No provision has been made by the Group for the potential tax liabilities of the previous years pending the outcome
of the said appeal. The potential tax exposure to the Group assuming that the retrospective basis is rejected by the MOF is
approximately RM109,700,000.
40.Capital commitments
Group
2007
2006
RM’000RM’000
141
42.Capital adequacy
Bank Negara Malaysia’s guideline on capital adequacy requires banking institutions to maintain adequate level of capital to
withstand losses which may result from credit and risk associated with financing operations.
The risk-weighted capital adequacy ratio of a subsidiary, Bank Islam Malaysia Berhad and its subsidiaries is analysed as
follows:
2007
2006
RM’000RM’000
142
Tier-I capital
Paid-up share capital
Share premium
(Accumulated losses)
Other reserves
1,725,490
500,020
(1,567,889)
364,645
880,000
331,375
(1,668,690)
215,923
Total Tier-1 capital
1,022,266
(241,392)
Tier-II capital
Redeemable Subordinated Mudharabah financing
General allowance for bad and doubtful financing
60,000
170,461
100,000
168,462
Total tier-II capital
230,461
268,462
Total capital
Less: Investment in Subsidiaries
1,252,727
- (241,392)
-
1,252,727
(241,392)
Capital base
Core capital ratio
Risk-weighted capital ratio
Core capital ratio after proposed dividends
Risk-weighted capital ratio after proposed dividends
Group
2007
2006
10.42%
12.77%
10.42%
12.77%
-2.47%
-2.47%
-2.47%
-2.47%
42.Capital adequacy (cont’d)
Breakdown of risk weighted assets in the various categories of risk weights:
2007
2006
Risk
Risk
Principal
weighted
Principal
weighted
RM’000 RM’000 RM’000 RM’000
0%
7,622,791
- 3,556,085 10%
13,734
1,373
13,640
1,364
20%
555,881
111,176
773,735
154,747
50%
2,443,545
1,221,772
2,435,386
1,217,693
100%
8,291,455
8,291,455
7,918,276
7,918,277
Total risk-weighted assets for credit risk
Total risk-weighted assets for market risk
18,927,406
-
9,625,776
184,730
14,697,122
-
9,292,081
471,239
Total risk-weighted assets for credit and market risk
18,927,406
9,810,506
14,697,122
9,763,320
43.Segmental information
The inter-segment transactions have been entered into in the normal course of business and have been established under
negotiated terms.
Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated
on a reasonable basis. Unallocated items mainly comprise corporate assets and expenses.
The Group operates predominantly in Malaysia and accordingly, information by geographical location on the Group’s
operation is not presented.
Segment information is presented in respect of the Group’s main business segments.
Business segments
The Group comprises of the following main business segments:
Banking
Islamic banking and provision of related services.
Takaful
Underwriting of family and general Islamic insurance (“Takaful”).
Others
Investment holding, currency trading, ijarah financing, stockbroking.
143
43.Segmental information (cont’d)
2007
Banking
OffshoreDomesticTakafulOthersElimination Consolidated
RM’000RM’000RM’000RM’000RM’000RM’000
144
Business segments
Revenue from external customers
Inter-segment revenue
30,295
-
999,193
8,287
193,460
8,884
28,530
36,058
-
(53,229)
1,251,478
-
Total revenue 30,295
1,007,480
202,344
64,588
(53,229)
1,251,478
Segment result
Operating profit
Finance costs
Zakat
Tax expense
52,764
195,660
26,377
54,641
612,794
942,236
(13,370)
(8,094)
(8,526)
Profit for the year
912,246
Segment assets Investment in associates
544,485 18,543,818
-
-
3,527,565
-
1,704,639
149
(1,693,430) 22,627,077
-
149
Total assets
544,485
18,543,818
3,527,565
1,704,788
(1,693,430) 22,627,226
Segment liabilities
1,204,065
16,835,127
3,192,232
65,138
(328,698) 20,967,864
Capital expenditure
Depreciation
7
139
39,742
20,588
18,842
7,092
Business segments
-
46,661
43.Segmental information (cont’d)
2006
Banking
OffshoreDomesticTakafulOthersElimination Consolidated
RM’000RM’000RM’000RM’000RM’000RM’000
Revenue from external customers
Inter-segment revenue
60,754 -
892,803 7,076 164,521 11,971 16,924
58,968
-
(78,015)
1,135,002
-
Total revenue 60,754
899,879
176,492 75,892 (78,015)
1,135,002
(921,701)
45,739 (104,651)
154,595 (1,171,321)
(6,000)
(618)
(7,065)
(30,454)
Net loss for the year
(1,215,458)
Segment result
Operating loss
Finance costs
Share of profit of associates Zakat
Tax expense
(345,303)
Business segments
Segment assets Investment in associates
721,505 13,877,062 -
-
3,200,533 -
1,678,746
149
(1,733,217) 17,744,629
-
149
Total assets
721,505
13,877,062
3,200,533 1,678,895
(1,733,217) 17,744,778
Segment liabilities
502,968
14,343,641
2,884,403
324,313 (338,689) 17,716,636
-
222 20,604
17,491
30,303
12,526
57
7,047
-
167,498
-
Capital expenditure
Depreciation
Expensed off deferred
allowance for bad
and doubtful financing
that was previously
amortised over 7 years
- -
-
50,964
37,286
-
167,498
44. Prior year adjustments
There were numerous un-reconciled differences in the accounting records of a subsidiary, Syarikat Takaful Malaysia Berhad
(“STMB”), in the previous financial year which resulted in the issuance of a qualified audit opinion on the consolidated
financial statements for the year ended 30 June 2006. Since then, STMB has made great efforts which included engaging
third party consultants to identify and clear the numerous reconciling items in the accounting records and made adjustments
to the financial statements. Given the continued growth of the STMB’s business operations over the years which resulted
in the significant volume of transactions that had to be manually processed, it was impracticable within the time constraint
for financial statements issuance to determine the period-specific effects that some of these adjustments might have on the
previous years’ financial statements.
Given the impracticality and pursuant to paragraph 44 of FRS108: Accounting Policies, Changes in Accounting Estimates
and Errors, the Group has incorporated the necessary adjustments against the opening accumulated losses, minority
interests and General Takaful and Family Takaful participants’ funds as at 1 July 2006. RM2.9 million, RM1.3 million and
RM2.8 million have been credited to the opening accumulated losses, minority interests and General Takaful participants’
fund, respectively. An amount of RM41.4 million has been charged to the opening Family Takaful participants’ fund.
145
45.Comparative figures
The presentation and classification of items for the following comparative figures have been restated to conform with current
year’s presentation:
Group
As
As previously
restated
stated
RM’000RM’000
146
Balance sheet as at 30 June 2006
Assets
Securities:
Held-for-trading
Available-for-sale
Held-to-maturity
Financing, advances and other loans
Other assets
General Takaful and Family Takaful assets
Liabilities
Other liabilities
General Takaful and Family Takaful liabilities
General Takaful and Family Takaful participants’ funds
Takaful funds
General Takaful fund
Family Takaful fund
Income statement for the year ended 30 June 2006
Income derived from investment of shareholders’ funds
Impairment losses
Direct expenses
Depreciation
Other overhead expenses
2,882,378
59,476
2,884,387
796,548
279,176
2,199,477
143,828
8,601,387
93,360
184,011
2,812,628
303,219
2,424,115
1,534,374
8,467,274
436,382
409,323
-
305,125
367,078
2,445,551
672,202
-
-
-
2,157,054
288,497
327,297
(164,461)
(13,660)
(33,756)
(167,999)
346,346
(183,511)
(37,286)
(178,129)
Harta Tanah Milik Kumpulan BHB
Harta tanah Milik Bank Islam
Properties Owned by Bank Islam
Lokasi
Keterangan KegunaanTempoh Hak Milik
Keluasan TanahNilai BukuTarikh Pembelian
Location
Description ofTenure
Kawasan Binaan
Bersih pada
Date of Existing Use
(meter persegi)
30.06.2007
Acquisition
Land Built-up Area Net Book
(square metre)Value as at
30.06.2007
(RM)
H.S. (D) 80625
Tanah tapak bangunan
Pajakan 99 tahun
P.T. 45 Seksyen 87
Building site
berakhir 29.12.2093
Jalan Tun Razak
Leasehold for 99 years
Bandar Kuala Lumpur
expiring on 29.12.2093
No P.T. 1708 & 1709
Tanah tidak digunakan
Pajakan 99 tahun
H.S. (M) 2660 & 2661
Vacant land
berakhir 02.04.2085
Batu 5½ Jalan Cheras
Kuala Lumpur
Tanah tidak digunakan
Pajakan 99 tahun
- HSD 1323
Vacant land
berakhir 03.02.2101
Mukim Nakhoda Omar
Sabak Bernam
14,076,345
30.12.1994
4,443
70,560
03.04.1986
147
405,000
637,103
04.02.2002
Selangor Darul Ehsan
Harta tanah Syarikat Al-Ijarah Sdn Bhd
Properties Owned by Syarikat Al-Ijarah Sdn Bhd
Lokasi
Keterangan KegunaanTempoh Hak MilikUsia BangunanNilai BukuTarikh Pembelian
Location
Description of
Existing Use
Tenure
Age of Buildings
Bersih pada
(tahun/year)
30.06.2007Acquisition
Net Book
Value as at
30.06.2007
No. P.T. Lot 002600 &
Rumah kedai 4 tingkat
Pegangan bebas
H.S. (D) 815 & 816
171 & 273 meter persegi
Freehold
Lot 002601. No 71 & 73
untuk operasi
Jalan Taman Selat Off
Bank Islam
Jalan Bagan Luar
4-storey shophouse
171 & 273 square metres
for Bank Islam operation
Date of
(RM)
22
1,116,411
30.09.1985
Lot No P.T. 805
6,597
Harta tanah Milik syarikat takaful Malaysia Berhad
Properties Owned by syarikat takaful Malaysia Berhad
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Kawasan Binaan/ Net Book
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
1
2
148
Lot 11 & 12
Dua unit Rumah kedai/
Pegangan Bebas
Plaza Melaka
Pejabat 4 1/2 tingkat
Freehold
Jalan Hang Tuah
Two units of 4 1/2 storey
75300 Melaka
Shophouse/Office
Lot 1 & 2
Tiga unit Kompleks
Pajakan bandar
Kompleks Perniagaan
Perniagaan/
999 tahun
Fajar
Pejabat 4 tingkat
berakhir pada
91000 Tawau
Three units of 4 storey
31.12.2895
Sabah
Commercial Complex/
999 years town
Office
lease expiring
24
3,485/
Agreement
1,060,255.06
03.05.1985
1,123,824.17
12.07.1991
411,969.94
30.09.1991
442,448.82
20.09.1995
772,896.44
22.12.1995
325,046.25
07.07.1995
14,434
16
4,025/
6,037
on 31.12.2895
3
No. 64 & 65
Pegangan Bebas
Kompleks Jitra
Pejabat 2 tingkat
Freehold
Jalan Sungai Korok
Two units of 2 storey
06000 Jitra
Shophouse/Office
21
3,095/
6,935
Kedah Darul Aman
4
No. 23
Satu unit Rumah kedai/
Pajakan 99 tahun
Medan Istana 3
Pejabat 3 tingkat
berakhir pada
Bandar Ipoh Raya
One unit of 3 storey
30.03.2081
30450 Ipoh
Shophouse/Office
99 years lease
Perak Darul Ridzuan
12
1,539/
4,255
expiring on
30.03.2081
5
No. 84
Pegangan Bebas
Batu 3 1/4
Pejabat 5 tingkat
Freehold
Jalan Gombak
53000
Shophouse/Office
21
1,883/
8,700
Kuala Lumpur
6
Lot 6966, Blok 59
Pajakan 60 tahun
Muara Tuang
Pejabat 3 tingkat
berakhir pada
Jalan Datok Mohd
31.12.2053
Musa
Shophouse/Office
60 years lease
94300 Kota Samarahan
expiring on
Sarawak
31.12.2053
12
1,312/
3,750
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
7
Lot 54 & 55
Pajakan bandar
Bandar Wilayah Jasa
Pejabat 3 tingkat
99 ahun berakhir
Jalan Bunga Raya
pada 31.12.2090
91112 Lahad Datu
Shophouse/Office
99 years town
Sabah
12
2,400/
Agreement
944,589.22
27.12.1995
3,614,616.67
08.06.1996
634,260.10
17.07.1993
968,045.14
04.10.1996
2,590,537.50
02.01.1996
975,639.92
07.02.1996
7,200
lease expiring on
31.12.2090
8
No. 24
Pegangan Bebas
Jalan USJ 10/1B
Pejabat 3 tingkat
Freehold
47500 Subang Jaya
Shophouse/Office
No. 15 & 17
Pegangan Bebas
Jalan Kelibang
Pejabat 2 tingkat
Freehold
Langkawi Mall
07000 Kuah,
Shophouse/Office
13
3,200/
9,600
149
9
14
1,440/
Langkawi
Kedah Darul Aman
10
No. 26 & 28
Pegangan bebas
Jalan Perda Barat
Pejabat 3 tingkat
Freehold
Bukit Mertajam
Seberang Prai
Shophouse/Office
9
3,293/
8,840
14000 Penang
11
12
Lot 2, 3 & 4
Tiga unit Rumah kedai/
Pegangan Bebas
Jalan Kulas
Pejabat 3 tingkat
Freehold
93400 Kuching
Sarawak
Shophouse/Office
No. 14 & 16
Pajakan 99 tahun
Jalan Ibrahim
Pejabat 3 tingkat
Lot 14 berakhir
81900 Kota Tinggi
pada 08.05.2082
Johor Darul Ta’zim
Shophouse/Office
Lot 16 berakhir
pada 04.12.2078
99 years lease
Lot 14 expiring
on 08.05.2082
Lot 16 expiring
on 04.12.2078
12
4,817/
18,892
21
3,360/
8,544
7,720
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
13
14
15
150
No. 312
Pegangan Bebas
Jalan Bandar 13
Pejabat 4 tingkat
Freehold
Taman Melawati
53100 Kuala Lumpur
Shophouse/Office
Lot 9046, Fasa 1A
Pajakan 99 tahun
Jalan Haji Manan
Pejabat 4 tingkat
99 years lease
86000 Kluang
Shophouse/Office
No. 64 - D
Satu unit bangunan
Pegangan Bebas
Leboh Bishop
Pejabat 6 tingkat (9 level)
Freehold
10200 Pulau Pinang
13
1,920/
Agreement
810,844.17
30.06.1994
1,129,989.53
27.03.1992
5,917,723.63
24.04.1996
57,949,368.33
14.05.1997
1,660,751.40
14.01.1997
332,070.25
09.04.1996
7,070
11
2,658/
9,930
30
3,972/
19,630
Office building (9 level)
16
Darul Takaful
Satu unit bangunan
Pegangan Bebas
Jalan Sultan Ismail
Pejabat 20 tingkat
Freehold
50250 Kuala Lumpur
19
35,192/
232,182
Office building
17
Lot 13 & 14
Dua unit bangunan
Pajakan 999
Lazenda Commercial
Pejabat 3 tingkat
tahun berakhir
Centre
pada 30.06.2902
Jalan Okk Abdullah
Office building
999 years lease
87007 Labuan
13
2,504/
7,200
expiring on
30.06.2902
18
19
Lot 6967, Blok 59
Pajakan 60 tahun
Muara Tuang
Pejabat 3 tingkat
berakhir pada
Jalan Datok Mohd
31.12.2053
Musa 94300 Kota
Shophouse/Office
60 years lease
Samarahan
expiring on
Sarawak
31.12.2053
Lot 28, 30 & 32
Pajakan 99 tahun
Jalan 2/3A,
Pejabat 4 tingkat
berakhir pada
Pasar Borong
11.03.2086
68100 Selayang
Shophouse/Office
99 years lease
12
1,312/
3,750
20
4,447/
16,800
3,231,943.80
Lot No.
28 & 30
17.02.1997
expiring on
Lot No. 32
11.03.2086
12.05.1997
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
20
Lot 12680
Dua tingkat bangunan
Pajakan 99 tahun
Level 1 & Mezzanine
Pejabat 13 tingkat
berakhir pada
Jalan Bukit Timbalan
Two floors of 13 storey
26.07.2080
80000 Johor Bharu
Office building
99 years lease
Agreement
9
8,354*
5,080,818.00
09.03.1998
9
6,594*
3,202,441.08
06.01.1999
expiring on
26.07.2080
21
Lot 12680
Satu tingkat bangunan
Pajakan 99 tahun
Level 3,
Pejabat 13 tingkat
berakhir pada
Jalan Bukit Timbalan
One floor of 13 storey
26.07.2080
80000 Johor Bharu
Office building
99 years lease
expiring on
151
26.07.2080
23
Lot 14(S1) & 15(S1)
Pajakan 99 tahun
Indah Point, Section 12
Pejabat 4 tingkat
berakhir pada
Pulau Indah
(kosong)
24.02.2097
Industrial Park
99 years lease
42000 Klang, West Port Shophouse/Office
expiring on
(vacant)
24.02.2097
No. 1 & 2
Pajakan 99 tahun
Jalan Kelicap
Pejabat 2 tingkat
berakhir pada
Taman Pekan Baru
05.09.2078
34200 Parit Buntar
Shophouse/Office
99 years lease
Perak Darul Ridzuan
8
3,300/
1,369,771.17
19.12.1996
516,436.82
18.09.1999
1,259,954.57
18.09.1999
972,736.33
18.09.1999
10,560
20
3,956/
7,044
expiring on
05.09.2078
24
No. 46 & 47,
Pegangan Bebas
Darul Takaful
Pejabat 4 tingkat
Freehold
Jalan Rahmat
Two units of 4 Storey
83000 Batu Pahat
Shophouse/Office
18
3,220/
12,092
25
No. 180 & 181
Pegangan Bebas
Jalan Tuan Hitam
Pejabat 4 tingkat
Freehold
22000 Jerteh
Terengganu Darul Iman
Shophouse/Office
17
3,200/
12,250
22
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
26
Lot 82, 84 & 86
Pegangan Bebas
Jalan Rugbi 13/30
Pejabat 2 tingkat
Freehold
Seksyen 13
40100 Shah Alam
Shophouse/Office
8
6,339/
Agreement
1,666,521.72
07.05.1997
266,396.63
15.07.1999
578,425.58
01.07.1997
1,918,528.34
15.09.2000
1,002,311.17
02.10.2000
1,138,059.72
08.09.1999
11,309
27
No. 229, Jalan
Pegangan Bebas
Shahab 2
Freehold
Shahab Perdana
One unit of 2 1/2 storey
Jalan Sultanah
Shophouse/Office
11
1,400/
3,570
Sambungan
05350 Alor Star
152
Kedah Darul Aman
28
Lot No. 3803
Pajakan 99 tahun
Jalan Dato’ Ulu Muar
Pejabat 3 tingkat
berakhir pada
72000 Kuala Pilah
06.10.2079
Negeri Sembilan
Shophouse/Office
99 years lease
Darul Khusus
8
2,001/
3,120
expiring on
06.10.2079
29
No. 45
Pajakan 99 tahun
Jalan Teluk Sisek
Pejabat 4 tingkat
berakhir pada
25000 Kuantan
18.09.2068
Pahang Darul Makmur
Shophouse/Office
99 years lease
7
3,200/
8,019
expiring on
18.09.2068
30
Lot. 21, 22, & 23
Pajakan 99 tahun
Pusat Komersil
berakhir pada
Temerloh
Three units of 2 1/2
01.04.2095
28000 Temerloh
storey Shophouse/Offie
99 years lease
Pahang Darul Makmur
7
4,195/
15,050
expiring on
01.04.2095
31
No. 2 & 4
Pajakan 99 tahun
Jalan 6C/7
Pejabat 2 tingkat
berakhir pada
43650 Bandar
08.07.2086
Baru Bangi
Shophouse/Office
99 years lease
expiring on
08.07.2086
20
6,383/
8,032
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
32
Lot 14
Pegangan Bebas
Arab Malaysian
Pejabat 6 tingkat
Freehold
Business Centre
Jalan Pasar
Shophouse/ Office
11
1,500/
Agreement
2,964,978.94
19.05.2000
2,955,855.50
08.07.1998
14,589
70000 Seremban
Negeri Sembilan
Darul Khusus
33
Tingkat Bawah &
Pegangan Bebas
Mezzanine
Pejabat 81/2 tingkat
Freehold
Wisma Abrar
One floor of 81/2 storey
International
Office building
10
7,925*
153
Lot 54, Seksyen 8
Kelantan Darul Naim
34
No. 29, Jalan Delima
Pajakan 99 tahun
Pusat Perdagangan
Pejabat 3 Tingkat
berakhir pada
Pontian
25.09.2097
80000 Pontian
Shophouse/Office
99 years lease
6
3,899/
1,263,690.08
23.03.2002
998,041.51
08.09.1999
6,361,442.56
29.12.1997
10,248
expiring on
26.09.2097
35
Lot 11 & 12
Pajakan 99 tahun
Kompleks Seri Temin
Pejabat 4 tingkat
berakhir pada
Jalan Ibrahim
03.10.2080
08000 Sungai Petani
Shophouse/Office
99 years lease
Kedah Darul Aman
22
2,800/
11,020
expiring on
03.10.2080
36
Lot 1129 & 1130
Satu unit bangunan
Pajakan kecil 45
Bangunan Darul Takaful Pejabat 12 tingkat
tahun berakhir
Jalan Sultan Ismail
pada 28.02.2047
20100 Kuala
Office building
45 years sub
Terengganu
lease expiring on
Terengganu Darul Iman
28.02.2047
5
3,600/
23,637
15350 Kota Bharu
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
37
No. 616 & 617
Dua unit bangunan
Pajakan 99 tahun
Jalan Besar
Pejabat 2 tingkat
berakhir pada
Bandar Tampin 73000
05.10.2088
Negeri Sembilan
Office building
99 year lease
Darul Khusus
15
4,498/
Agreement
640,057.51
17.09.1999
462,055.53
09.08.2002
8,685
expiring on
05.10.2088
38
No. 6, Jalan 6C/7
Pajakan 99 tahun
43650 Bandar Baru
Pejabat 2 tingkat
berakhir pada
Bangi
08.07.2086
Shophouse/Office
99 year lease
20
1,905/
3,508
expiring on
154
08.07.2086
39
Unit 3B/G
Pegangan bebas
Tingkat Bawah
Pejabat 22 tingkat
Freehold
Blok 3B, Plaza Sentral
One floor of 22 storey
6
6,409*
3,929,486.30
26.06.2001
26
1,600/
488,330.03
17.09.1999
1,222,469.11
03.07.2002
Jalan Stesen Sentral 5 Office building
50470 Kuala Lumpur
40
No. 26 & 27
Dua unit bangunan
Pajakan 99 tahun
Jalan Tanjung
Pejabat 2 tingkat
berakhir pada
Pasar Baru
13.11.2080
18500 Machang
Office building
99 years lease
Kelantan Darul Naim
4,000
expiring on
13.11.2080
41
No. 330 & 331
Dua unit bangunan
Pajakan 99 tahun
Jalan Sultan
berakhir pada
Yahya Petra
Two units of 4 1/2 storey
09.12.2069
15720 Kota Bharu
Office building
99 years lease
Kelantan Darul Naim
expiring on
09.12.2069
25
3,200/
15,200
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
42
Dataran Kewangan
Dua unit bangunan
Pegangan Bebas Blok Utama/
90,427/
Darul Takaful
Pejabat
Freehold
393,508
Jalan Sultan Sulaiman
Blok Utama -26 tingkat
Blok Annex/
50000 Kuala Lumpur
Blok Annex -29 tingkat
Annex Block - 27
Main Block - 34
Agreement
116,770,677.11 08.10.2004
Two units of
Office building
Main Block -26 storey
Annex Block-29 storey
43
No. 2408
Pajakan 99 tahun
Taman Samudera
Pejabat 2 tingkat
berakhir pada
32040 Sri Manjung
19.05.2091
Perak Darul Ridzuan
Shophouse/Office
99 years lease
11
2,800/
807,526.48
10.08.2004
5,300
155
19.05.2091
44
No. 76A & 76
Dua unit bangunan
Pegangan Bebas
Pusat Perniagaan
Pejabat 3 tingkat
Freehold
Jalan Tupai
34000 Taiping
Office building
4
3,134/
1,319,708.52
18.08.2003
1,397,153.25
03.07.2002
3,553,440.00
27.07.2002
1,491,004.84
30.11.2004
18,304
Perak Darul Ridzuan
45
No. 10 & 11
Dua unit bangunan
Pajakan 33 tahun
Jalan Sultan Yahya
Pejabat 3 tingkat
berakhir pada
Petra
08.09.2037
15200 Kota Bharu
Office building
33 years lease
Kelantan Darul Naim
5
3,852/
9,120
expiring on
08.09.2037
46
47
No. 4197
Satu unit bangunan
Pegangan Bebas
Jalan Teluk Wanjah
Pejabat 4 tingkat
Freehold
05200 Alor Star
Kedah Darul Aman
Office building
No. 10 & 8, Jalan Padi
Dua unit bangunan
Pajakan selama
Emas 5/2, Bandar
Pejabat 3 tingkat
99 tahun berakhir
Baru UDA 81200
Two unit of 3 storey
pada 16.02.2099
Johor Bharu, Johor
Office building
99 years lease
Darul Ta’zim
expiring on
16.02.2099
5
8,716/
18,440
2
3,080/
8,024
expiring on
No.
Lokasi/
Penerangan
Hakmilik/
Usia
Keluasan
Nilai Buku
Tarikh
Location
Kegunaan/
Tenure
Bangunan/
Tanah,
Bersih pada/
Perjanjian
Description of
Age of
Jual Beli/
Existing Use
Building
Land, Built-up
Value as at
Date of
(tahun/
Area
30.06.2007
Sale and
years)
(kaki persegi/
(RM)
Purchase
square feet)
48
No. 4, Kompleks Seri
Satu unit bangunan
Pajakan 99 tahun
Temin Jalan Ibrahim
Pejabat 4 tingkat
berakhir pada
08000 Sungai Petani,
03.10.2080
Kedah Darul Aman
Office building
99 years lease
22
1,400/
Agreement
757,565.08
11.09.2005
384,729.58
29.11.2005
909,877.99
20.01.2006
743,628.07
14.02.2006
868,892.00
21.03.2006
5,510
expiring on
03.10.2080
49
Satu unit bangunan
Pegangan Bebas
Jalan Cenderawasih
Pejabat 3 tingkat
Freehold
Jalan Kilang Lama
09000 Kulim
Office building
8
1,600/
4,172
Kedah Darul Aman
156
No. 16,
50
Lot 1340, Miri
Satu unit bangunan
Pajakan selama
Waterfront
Pejabat 4 tingkat
60 tahun berakhir
Commercial Centre,
pada 30.09.2052
98000 Miri, Sarawak
Office building
60 years lease
3
1,400/
5,500
expiring on
30.09.2052
51
No. 6, Jalan Padi
Satu unit bangunan
Pajakan selama
Emas 5/2, Bandar
Pejabat 3 tingkat
99 tahun berakhir
Baru UDA, 81200
pada 16.02.2099
Johor Bharu
Office building
99 years lease
2
1,540/
4,012
expiring on
16.02.2099
52
No. 148, Kompleks
Satu unit bangunan
Pajakan selama
Munshi Abdullah
Pejabat 4 ½ tingkat
99 tahun
75200 Melaka
One unit of 4 ½ storey
99 years lease
Office building
* Kawasan Binaan / Build-up Area
14
1,470/
6,117
Statistik Pemegangan Saham
Analisis Pemegangan Saham / Analysis of Shareholdings
Modal Saham Dibenarkan / Authorised Share Capital
:
RM2,000,000,000
Modal Saham Berbayar / Paid-Up Capital
:
RM891,389,896
Jenis Saham / Class of Share
:
Hak Mengundi / Voting rights
:
Saham Biasa Bernilai RM 1.00 Setiap Satu
Ordinary Share of RM 1.00 each
Satu (1) Undi Setiap Saham Biasa
One (1) Vote Per Ordinary Share
Analisis Berdasarkan Saiz Pegangan Saham / Analysis by Size of Shareholdings
Pada 13 November 2007 / As at 13 November 2007
Jumlah / Total
6,648
100.00
891,389,896
100.00
Senarai Pegangan Saham Para Pengarah / List of Directors’ Shareholdings
NoNama-nama Pemegangan Saham
NoNamesShareholdings
1.
-
2.
-
3.
1,400
4.
-
5.
-
6.
-
7.
-
8.
-
9.
-
10. Dato’ Hairuddin bin Mohamed
-
%
%
0.00
-
157
Saiz Pegangan Saham
Bilangan
% Pemegang
Bilangan % Pemegangan
Size of Shareholdings
Pemegang Saham /
Saham
Saham /
Saham /
% of
Dipegang /
% of
No ofShareholdersNo ofShareholdings
ShareholdersShares Held
Kurang Daripada 100 / Less Than 100
70 1.05 1,361 0.00
100 – 1,000
1,142 17.18 1,004,097 0.11
1,001 – 10,000
4,299 64.67 19,233,541 2.16
10,001 - 100,000
1,018 15.31 28,461,424 3.19
100,001 Ke Atas / 100,001 And Above
115 1.73 201,719,468 22.63
5% Ke Atas / 5% And Above
4
0.06
640,970,005
71.91
Senarai Pegangan Saham Utama (5% dan ke atas) / List of Substantial Shareholdings (5% above)
NoNama-nama Saham
1.
Lembaga Tabung Haji
373,667,360
2.
Permodalan Nasional Berhad
130,931,445
3.
Amanah Raya Nominees (Tempatan) Sdn Bhd
85,000,000
A/C Skim Amanah Saham Bumiputera
4.
Employees Provident Fund Board
51,371,200
%
%
41.92
14.69
9.54
5.76
Pecahan Pemegangan Saham Bumiputera / Bumiputera Shareholdings Breakdown
No
Jenis Hak Milik
Bilangan Pemegang Saham
NoTypes of OwnershipNo of Shareholders
158
1
2
3
4
Agensi Kerajaan /
Government Agency
%
Bilangan Saham
%No of Shares
%
%
38
0.57
753,482,957 84.53
Bumiputera / Bumiputra :
a) Individu / Individuals
b) Syarikat / Companies
c) Syarikat Nomini / Nominees Company
1,381 43 499 20.77
0.65
7.51
8,890,467 46,857,035 27,754,804 1.00
5.26
3.11
Bukan Bumiputera / Non-Bumiputra :
4,205 49 293 63.25
0.74
4.41
36,817,558 2,272,250 6,142,900 4.13
0.25
0.69
Jumlah di Malaysia / Malaysian Total
6,508
97.90
882,217,971
98.97
90 2
48
1.35
0.03
0.72
4,510,400 95,000 4,566,525
0.51
0.01
0.51
140
2.10
9,171,925
1.03
6,648
100.00
891,389,896
100.0
Asing / Foreign
Jumlah Asing / Foreign Total
Jumlah Keseluruhan / Total
Senarai Tiga Puluh (30) Pegangan Saham Utama / List of Top Thirty (30) Shareholders
%
%
41.92
14.69
9.54
5.76
4.66
2.80
1.76
1.17
1.03
0.93
0.66
0.62
0.62
0.62
0.57
0.51
0.50
0.34
0.34
0.32
0.28
0.27
0.25
0.25
0.24
0.22
0.21
0.17
0.17
0.16
159
NoNama-nama Pemegangan Saham
1.
Lembaga Tabung Haji
373,667,360
2.
Permodalan Nasional Berhad
130,931,445
3.
Amanah Raya Nominees (Tempatan) Sdn Bhd
85,000,000
A/C Skim Amanah Saham Bumiputera
4.
Employees Provident Fund Board
51,371,200
5.
Lembaga Tabung Angkatan Tentera
41,579,998
6.
Felda Holdings Bhd
24,947,998
7.
Mayban Nominees (Tempatan) Sdn Bhd
15,675,999
A/C for Majlis Ugama Islam Sabah
8.
Majlis Agama Islam dan Adat Melayu Terengganu
10,405,000
9.
Majlis Ugama Islam Sabah
9,178,000
10. Amin Baitulmal Johor
8,316,000
11. Majlis Agama Islam Selangor
5,873,488
12. Majlis Agama Islam Negeri Pulau Pinang
5,544,000
13. Majlis Amanah Rakyat
5,544,000
14. Affin Nominees (Tempatan) Sdn Bhd
5,544,000
A/C Majlis Ugama Islam dan Adat Resam Melayu Pahang
15. Majlis Agama Islam Negeri Sembilan
5,100,479
16. Majlis Agama Islam dan Adat Istidat Melayu Kelantan
4,532,799
17. Tabung Warisan Negeri Selangor
4,500,000
18. Harakah Islamiah (HIKMAH)
3,056,000
19. Lembaga Pemegang-pemegang Amanah Yayasan Negeri Sembilan
3,000,019
20. Warisan Harta Sabah Sdn Bhd
2,865,000
21. Saleem Abdul Latif Mustafa
2,500,000
22. Yayasan Kelantan Darulnaim
2,414,540
23. Pertubuhan Kebajikan Islam Malaysia (PERKIM)
2,242,294
24. CIMB Trustee Berhad
2,239,750
A/C Amanah Saham Darul Iman
25. Perbadanan Kemajuan Ekonomi Islam Negeri Perak
2,141,863
26. Pertubuhan Kebajikan Islam Malaysia (PERKIM)
1,979,292
27. Majlis Agama Islam dan Adat Melayu Perak Darul Ridzuan
1,848,000
28. Citigroup Nominees (Asing) Sdn Bhd
1,544,700
CBNY for DFA emerging Markets Fund
29. Majlis Agama Islam Wilayah Persekutuan
1,506,210
30. Yayasan Islam Kelantan
1,385,999
Rangkaian Kumpulan Serantau
Anak-anak syarikat | Subsidiaries
Bank Islam Malaysia Berhad (98127-X)
Tingkat 14, Darul Takaful
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel | Tel
: 03 2616 8000
Faks | Fax : 03 2694 7392, 2694 9077
BIMB Holdings Berhad (423858-X)
Aras 18, Menara Yayasan Tun Razak,
200, Jalan Bukit Bintang,
55100 Kuala Lumpur
Tel | Tel
: 03 2781 2999
Faks | Fax : 03 2781 2998
160
Al-Wakalah Nominees (Tempatan) Sdn Bhd (122372-P)
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel | Tel
: 03 2616 8000
Faks | Fax : 03 2693 7062
BIMB Unit Trust Management Berhad (276246-X)
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel | Tel
: 03 2694 6617, 2694 6619, 2616 8000
Faks | Fax : 03 2694 3516
BIMB Foreign Currency Clearing Agency Sdn Bhd (507913-V)
Tingkat 9, Menara Tun Razak
Jalan Raja Laut, Peti Surat 11080
50734 Kuala Lumpur
Tel | Tel
: 03 2693 4287, 2693 4297, 2693 4327
Faks | Fax : 03 2693 4115
Syarikat Takaful Malaysia Berhad (131646-K)
26th Floor, Annex Block
Dataran Kewangan Darul Takaful
No 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel | Tel
: 03 2711 1984
Faks | Fax : 03 2274 1464
Asean Retakaful International (L) Limited (IS 9700061)
Aras 14, Blok 4
Financial Park Office
Jalan Merdeka
87000 Labuan I.O.F.C
Tel | Tel
: 087 451 301, 451 302
Faks | Fax : 087 451 300
Rangkaian Kumpulan Serantau
Syarikat Al-Ijarah Sdn Bhd (112330-P)
Aras 18, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel | Tel
: 03 2781 2999
Faks | Fax : 03 2781 2998
BIMB Securities (Holdings) Sdn Bhd (290167-P)
Aras 18, Menara Yayasan Tun Razak
55100 Kuala Lumpur
Tel | Tel
: 03 2781 2999
Faks | Fax : 03 2781 2998
Pembiayaan Perumahan Nasional Sdn Bhd (457596-A)
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel | Tel
: 03 2616 8000
Faks | Fax : 03 2694 9077
BIMB Securities Sdn Bhd (290163-X)
Tingkat 1 & 2, Blok Podium
Bangunan AMDB
No 1, Jalan Lumut
50400 Kuala Lumpur
Tel | Tel
: 03 4043 3533
Faks | Fax : 03 4041 4159
BIMB Venture Capital Sdn Bhd (53866-H)
Lantai 17, Bangunan Ibu Pejabat
Lembaga Tabung Haji
No 201, Jalan Tun Razak
50732 Kuala Lumpur
Tel | Tel
: 03 2161 8990
Faks | Fax : 03 2164 6155
BIMSEC Nominees (Asing) Sdn Bhd (319820-P)
Bangunan AMDB
No 1, Jalan Lumut
50400 Kuala Lumpur
Tel | Tel
: 03 4043 3533
Faks | Fax : 03 4041 4159
BIMB Musyarakah Satu Sdn Bhd (538579-A)
Lantai 17, Bangunan Ibu Pejabat
Lembaga Tabung Haji
No 201, Jalan Tun Razak
50732 Kuala Lumpur
Tel | Tel
: 03 2161 8990
Faks | Fax : 03 2164 6155
BIMSEC Nominees (Tempatan) Sdn Bhd (319821-M)
Tingkat 2, Blok Podium
Bangunan AMDB
No 1, Jalan Lumut
50400 Kuala Lumpur
Tel | Tel
: 03 4043 3533
Faks | Fax : 03 4041 4159
Islamic Banking & Finance Institute Malaysia
Sdn Bhd (340040-M)
Tingkat 3, Dataran Kewangan Darul Takaful
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel | Tel
: 03 2031 1010
Faks | Fax : 03 2078 5250
BIMSEC Asset Management Sdn Bhd (419248-V)
Bangunan AMDB
No 1, Jalan Lumut
50400 Kuala Lumpur
Tel | Tel
: 03 4043 3533
Faks | Fax : 03 4041 8332
161
P.T. Syarikat Takaful Indonesia
Gedung Arthaloka, Lantai 14
Jalan Jenderal Sudirman Kav 2
Jakarta, 10220 Indonesia
Tel | Tel
: 021 251 2345
Faks | Fax : 021 251 1521
Notis Mesyuarat Agung Tahunan yang Kesepuluh
DENGAN INI DIMAKLUMKAN BAHAWA Mesyuarat Agung Tahunan BIMB Holdings Berhad yang
Kesepuluh akan diadakan di Tun Rahah 1 & 2, Aras 1, Menara Yayasan Tun Razak, 200 Jalan
Bukit Bintang, 55100 Kuala Lumpur pada hari Khamis, 13 Disember 2007, jam 9.30 pagi untuk
tujuan-tujuan yang berikut:SEBAGAI URUSAN BIASA
1. Untuk menerima Akaun yang telah diaudit bagi tahun kewangan berakhir 30 Jun 2007 berserta Laporan
Pengarah dan Juruaudit mengenainya.
Resolusi 1
2. Untuk mengisytiharkan dividen pertama dan akhir sebanyak 2% ditolak cukai sebanyak 26% bagi
tahun kewangan berakhir 30 Jun 2007.
Resolusi 2
3. Untuk memilih semula Pengarah-pengarah berikut yang bersara di bawah Artikel 61 Tataurusan
Persatuan Syarikat:
i. Encik Salih Amaran bin Jamiaan
ii. Encik Zahari @ Mohd Zin bin Idris
162
Resolusi 3
Resolusi 4
4. Untuk memilih semula Tan Sri Samsudin bin Osman yang bersara mengikut Artikel 66 Tataurusan
Persatuan Syarikat.
Resolusi 5
5. Untuk meluluskan fi para Pengarah bagi tahun kewangan berakhir 30 Jun 2007.
Resolusi 6
6. Untuk melantik semula Tetuan KPMG Desa Megat & Co sebagai Juruaudit Luar Syarikat sehingga
Mesyuarat Agung Tahunan yang akan datang pada tahun 2008 dan juga untuk memberi kuasa kepada
Pengarah untuk menetapkan imbuhan kepada mereka.
Resolusi 7
SEBAGAI URUSAN KHAS
7.Resolusi Khas
Cadangan Pindaan kepada Tataurusan Persatuan Syarikat.
“Bahawa pembatalan, pengubahan, modifikasi atau penambahan kepada Tataurusan Persatuan Syarikat
seperti yang terdapat dalam Pekeliling kepada Pemegang saham bertarikh 22 November 2007 dengan
ini diluluskan.”
Resolusi 8
Notice of the Tenth Annual General Meeting
NOTICE IS HEREBY GIVEN that the tenth ANNUAL GENERAL MEETING of BIMB Holdings
Berhad will be held at Tun Rahah 1 & 2, Level 1, Menara Yayasan Tun Razak, 200 Jalan Bukit
Bintang, 55100 Kuala Lumpur on Thursday, 13 December 2007 at 9.30 a.m for the following
purposes:AS ORDINARY BUSINESS
1. To receive the Audited Accounts for the financial year ended 30 June 2007 together with the Reports
of the Directors and Auditors thereon.
Resolution 1
2. To declare a first and final dividend of 2% less 26% tax in respect of the financial year ended 30 June
2007.
Resolution 2
3. To re-elect the following Directors retiring pursuant to Article 61 of the Company’s Articles of
Association:
Resolution 3
Resolution 4
5. To approve the Directors’ fees for the financial year ended 30 June 2007.
Resolution 6
6. To re-appoint Messrs. KPMG Desa Megat & Co. as External Auditors of the Company until the
conclusion of the next Annual General Meeting in year 2008 and to authorise the Directors to fix their
remuneration.
Resolution 7
Resolution 5
AS SPECIAL BUSINESS
7. Special Resolution
Proposed Amendments to the Articles of Association of the Company.
“That deletion, alteration, modification or addition to the Articles of Association of the Company as set
out in the Circular to Shareholders dated 22 November 2007 be and is hereby approved”.
Resolution 8
163
i. Encik Salih Amaran bin Jamiaan
ii. Encik Zahari @ Mohd Zin bin Idris
4. To re-elect Tan Sri Samsudin bin Osman who is retiring pursuant to Article 66 of the Company’s Articles
of Association.
8.Resolusi Biasa
Cadangan Mandat Pemegang Saham untuk Urusniaga Berulang Pihak Berkaitan yang Berbentuk
Hasil atau Perdagangan.
“Bahawa tertakluk pada Akta Syarikat, 1965, Memorandum dan Tataurusan Persatuan Syarikat dan
juga Keperluan Penyenaraian oleh Bursa Malaysia Securities Berhad, kelulusan adalah dan dengan
ini diberi kepada BIMB Holdings Berhad dan anak syarikatnya untuk memeterai urusniaga berulang
pihak berkaitan yang berbentuk hasil atau perdagangan dengan pihak berkaitan berkenaan seperti
yang dinyatakan dalam Seksyen 2.1 Pekeliling kepada Pemegang Saham bertarikh 22 November 2007
yang perlu bagi operasi harian Kumpulan tertakluk kepada perkara yang berikut:
i.
urusniaga yang dijalankan adalah dalam operasi perniagaan dan berdasarkan terma komersial
biasa yang tidak memihak lebih kepada pihak berkaitan daripada masyarakat umum;
ii. tidak memudaratkan pemegang saham minoriti Syarikat, dan
iii. akan diumumkan dalam laporan tahunan bersamaan dengan butir-butir terperinci nilai agregat
urusniaga menurut mandat pemegang saham sepanjang tahun kewangan (Mandat).
Dan bahawa Mandat yang diberikan melalui resolusi ini akan berkuatkuasa serta merta selepas resolusi
ini diluluskan;
164
Dan bahawa Mandat ini akan terus berkuatkuasa sehingga;
a. tamatnya Mesyuarat Agung Tahunan akan datang, pada waktu itu ia akan luput melainkan apabila
diperbaharui pada mesyuarat tersebut melalui resolusi yang diluluskan;
b. tamat tempoh bila mana Mesyuarat Agung Tahunan yang akan datang, selepas tarikh tersebut ia
perlu diadakan mengikut Seksyen 143(1) Akta Syarikat 1965 (tetapi tidak sehingga tarikh lanjutan
yang dibenarkan mengikut Seksyen 143(2) Akta Syarikat 1965); atau
c. ia ditarik balik atau diubah melalui satu resolusi yang diluluskan oleh pemegang saham dalam
mesyuarat agung;
mana-mana yang terdahulu.”
9. Untuk menjalankan urusan biasa lain yang mana notis sewajarnya telah diberikan selaras dengan Akta
Syarikat, 1965.
Resolusi 9
8. Ordinary Resolution
Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading
Nature.
Resolution 9
“That subject to the Companies Act, 1965, Memorandum and Articles of Association of the Company
and the Listing Requirements of Bursa Malaysia Securities Berhad approval be and is hereby given
to BIMB Holdings Berhad and its subsidiaries to enter into the category of recurrent related party
transactions of a revenue or trading nature with those related parties as specified in Section 2.1 of the
Circular to the Shareholders dated 22 November 2007 which are necessary for the Group’s day to day
operations subject to the following:i.
the transactions carried out are in the ordinary course of business and on normal commercial
terms that do not favour the related parties more than the general public;
ii. are not detrimental to the minority shareholders of the Company; and
iii. will be disclosed in the annual report with the breakdown of the aggregate value of transaction
conducted pursuant to the shareholders’ mandate during the financial year. (Mandate)
And that the Mandate conferred by this resolution shall commence immediately upon the passing of
this Resolution;
And that such Mandate shall continue to be in force until:a. the conclusion of the next annual general meeting of the Company, at which time it will lapse,
unless by a resolution passed at the meeting, the authority is renewed;
b. the expiration of the period within which the next Annual General Meeting after the date is required
to be held pursuant to section 143(1) of the Companies Act, 1965 (but shall not extend to such
extension as may be allowed pursuant to section 143(2) of Companies Act, 1965; or
c. it is revoked or varied by a resolution passed by the shareholders in a general meeting.
whichever is the earlier.”
9. To transact any other ordinary business of which due notice shall have been given in accordance with
the Companies Act, 1965.
165
NOTIS PENUTUPAN BUKU
DENGAN INI DIMAKLUMKAN BAHAWA buku daftar ahli Syarikat akan ditutup mulai 19 Disember 2007 hingga 20 Disember 2007
(termasuk kedua-dua tarikh) bagi tujuan menentukan kelayakan pembayaran dividen kepada pemegang saham.
Dividen berkenaan, sekiranya diluluskan oleh pemegang saham semasa Mesyuarat Agung Tahunan Kesepuluh, akan dibayar
pada 4 Januari 2008 kepada pemegang saham yang mana nama mereka tersenarai dalam pendaftaran ahli atau rekod pendeposit
pada 18 Disember 2007.
DENGAN INI DIMAKLUMKAN SELANJUTNYA BAHAWA seorang pendeposit adalah layak untuk menerima dividen bagi:
a. Saham yang dipindahkan kepada Akaun Sekuriti Pendeposit sebelum 4.00 petang pada 18 Disember 2007 berkenaan
dengan pindah milik biasa; dan
b. Saham yang dibeli di Bursa Malaysia Securities Berhad berasaskan kelayakan menurut peraturan Bursa Malaysia Securities
Berhad.
Dengan Perintah Lembaga Pengarah
166
SAIFUL NIZAM YASIN (LS 08955)
TENGKU MAIZURA TENGKU ISHAK (LS 09202 )
Setiausaha-setiausaha Syarikat
Kuala Lumpur
22 November 2007
Nota:
1. Ahli Syarikat yang berhak menghadiri dan mengundi di dalam mesyuarat berhak melantik seorang atau lebih proksi untuk
hadir dan mengundi bagi pihaknya.
2. Suratcara pelantikan seorang proksi hendaklah:i dalam hal seorang individu, ditandatangani oleh pelantik atau oleh wakilnya; dan
ii dalam hal sebuah syarikat, sama ada di bawah meterai rasmi atau ditandatangani oleh wakilnya atau oleh seorang
pegawai bagi pihak syarikat tersebut.
3. Di mana ahli Syarikat melantik lebih daripada satu (1) proksi, pelantikan tersebut hendaklah menyatakan bahagian pegangan
sahamnya yang diwakili oleh setiap proksi.
4. Semua borang proksi hendaklah didepositkan di Pejabat Berdaftar Syarikat, Aras 18, Menara Yayasan Tun Razak, 200
Jalan Bukit Bintang, 55100 Kuala Lumpur tidak kurang dari 48 jam sebelum waktu mesyuarat ditetapkan atau sebarang
penangguhan berikutnya.
5. Nota penerangan mengenai Urusan Khas:i Resolusi Khas 8, sila rujuk kepada Pekeliling kepada Pemegang Saham bertarikh 22 November 2007.
ii Resolusi Biasa 9, sila rujuk kepada Pekeliling kepada Pemegang Saham bertarikh 22 November 2007.
NOTICE OF BOOK CLOSURE
NOTICE IS HEREBY GIVEN THAT the register of members will be closed from 19 December 2007 to 20 December 2007 (both
dates inclusive) to determine shareholders entitlement to the dividend payment.
The dividend, if approved, by the shareholders at the Tenth Annual General Meeting, will be paid on 4 January 2008 to shareholders
whose names appear in the register of members or record of depositors on 18 December 2007.
FURTHER NOTICE IS HEREBY GIVEN that a depositor shall qualify for dividend entitlement only in respect of:
a. Shares transferred to the depositor’s securities account before 4.00 p.m. on 18 December 2007 in respect of ordinary
transfer.
b. Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the rules of Bursa Malaysia
Securities Berhad.
By Order of the Board
Kuala Lumpur
22 November 2007
Notes :
1. A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote
instead of him.
2. The instrument appointing a proxy shall:i in case of individual, be signed by the appointer or by his attorney; and
ii in case of a corporation be either under its common seal or signed by its attorney or by an officer on behalf of the
corporation.
3. Where a member appoints more than one (1) proxy the appointment shall specify the proportions of his holdings to be
represented by each proxy.
4. All proxy forms should be deposited at the Company’s Registered Office, Level 18, Menara Yayasan Tun Razak, 200 Jalan
Bukit Bintang, 55100 Kuala Lumpur not less than forty-eight (48) hours before the time fixed for holding of the meeting or
any adjournment thereof.
5. Explanatory Notes to the Special Business:-
i The Special Resolution 8, please refer to the Circular to Shareholders dated 22 November 2007.
ii The Ordinary Resolution 9, please refer to the Circular to Shareholders dated 22 November 2007.
167
SAIFUL NIZAM YASIN (LS 08955)
TENGKU MAIZURA TENGKU ISHAK (LS 09202 )
Company Secretaries
Penyata Mengiringi Notis Mesyuarat Agung Tahunan
Menurut Perenggan 8.28 (2) Keperluan Penyenaraian Bursa Malaysia Securities Berhad.
1. Para pengarah yang dicalonkan untuk pemilihan semula pada Mesyuarat Agung Tahunan Kesepuluh Syarikat.
168
•
Bahawa Encik Salih Amaran bin Jamiaan dan Encik Zahari @ Mohd Zin bin Idris, Pengarah yang bersara menurut Artikel
61 Tataurusan Persatuan Syarikat dan dicalonkan untuk pemilihan semula.
•
Bahawa Tan Sri Samsudin bin Osman, Pengarah yang dilantik pada tahun kewangan akan bersara menurut Artikel 66
Tataurusan Persatuan Syarikat dan oleh sebab layak, telah menawarkan diri untuk pemilihan semula.
Butiran Pengarah-pengarah tersebut di atas dinyatakan pada profil Pengarah di muka surat 29 hingga 38 Laporan Tahunan ini.
Statement Accompanying Notice of Annual General Meeting
Statement Pursuant to Paragraph 8.28(2) of the Listing Requirements of Bursa Malaysia Securities Berhad.
1. Directors who are standing for re-election at the Tenth Annual General Meeting of the Company.
•
That Encik Salih Amaran bin Jamiaan and Encik Zahari @ Mohd Zin bin Idris who retires by rotation pursuant to Article
61 of the Company’s Articles of Association and seeking re-election.
•
That Tan Sri Samsudin bin Osman, who was appointed during the financial year, retiring pursuant to Article 66 of the
Company’s Articles of Association and being eligible, has offered himself for re-election.
The details of the above Directors are set out on the Directors’ Profile which appear on page 29 to 38 of this Annual Report.
169
170
Muka surat ini sengaja dikosongkan | This page has been intentionally left blank
Saya/ Kami
No KP/ No Paspot/ No Syarikat
beralamat
no telefon
(Diperbadankan di Malaysia)
selaku Ahli/ Ahli-ahli BIMB Holdings
Berhad (“Syarikat”), dengan ini melantik
Borang Proksi
bagi
jumlah saham
dan/ atau
bagi
jumlah saham
sebagai proksi saya/ proksi kami untuk mengundi bagi pihak saya/kami dalam Mesyuarat Agung
Tahunan Syarikat yang Kesepuluh yang akan diadakan pada hari Khamis, 13 Disember 2007,
jam 9.30 pagi atau pada mana-mana tarikh penangguhannya. Saya/kami menandakan dengan
tanda “x” dalam ruang yang bersesuaian di bawah tentang bagaimana saya/kami ingin undian
saya/kami dibuat:
Resolusi Biasa 1
Untuk menerima Akaun teraudit bagi tahun kewangan berakhir 30 Jun 2007 berserta dengan Laporan Pengarah
dan Juruaudit mengenainya.
Resolusi Biasa 2
Untuk mengisytiharkan dividen pertama dan akhir sebanyak 2% tolak cukai sebanyak 26% bagi tahun kewangan
berakhir 30 Jun 2007.
Resolusi Biasa 3
Untuk memilih semula sebagai Pengarah, Encik Salih Amaran bin Jamiaan, yang bersara mengikut giliran
menurut Artikel 61 Tataurusan Persatuan Syarikat dan oleh sebab layak telah menawarkan diri untuk dipilih
semula.
Resolusi Biasa 4
Untuk memilih semula sebagai Pengarah, Encik Zahari @ Mohd Zin bin Idris, yang bersara mengikut giliran
menurut Artikel 61 Tataurusan Persatuan Syarikat dan oleh sebab layak telah menawarkan diri untuk dipilih
semula.
Resolusi Biasa 5
Untuk memilih semula Tan Sri Samsudin bin Osman yang bersara menurut Artikel 66 Tataurusan Persatuan
Syarikat.
Resolusi Biasa 6
Untuk meluluskan fi para Pengarah bagi tahun kewangan berakhir 30 Jun 2007.
Resolusi Biasa 7
Untuk melantik semula Tetuan KPMG Desa Megat & Co sebagai Juruaudit Luar Syarikat sehingga Mesyuarat
Agung Tahunan yang akan datang pada tahun 2008 dan juga untuk memberikan kuasa kepada para Pengarah
untuk menetapkan imbuhan mereka.
Resolusi Khas 8
Cadangan Pindaan kepada Tataurusan Persatuan Syarikat.
Resolusi Biasa 9
Cadangan Mandat Pemegang Saham untuk Transaksi Berulang Pihak Berkaitan yang Berbentuk Hasil atau
Perdagangan.
Menyokong
Menentang
Tertakluk pada arahan pengundian yang dinyatakan di atas, proksi saya/ kami boleh mengundi atau mengecualikan diri daripada mengundi mana-mana
resolusi sebagaimana yang beliau/ mereka fikirkan sesuai.
Jika pelantikan proksi di bawah kuasa
Bilangan saham yang dipegang :
No Akaun Sekuriti :
Ditandatangani oleh ahli individu/ pegawai atau wakil kepada ahli/ penama yang diberi kuasa
Tarikh :
(pemilik benefisial)
Meterai
Jika pelantikan proksi di bawah meterai
Meterai Rasmi
Adalah
diturunkan
di
sini
menurut
Tataurusan
Pertubuhan Syarikat di hadapan:
Bilangan saham yang dipegang :
No Akaun Sekuriti :
Tarikh :
Pengarah
Pengarah/ Setiausaha
dalam kapasitinya sebagai ahli/ wakil kepada ahli/ penama yang diberi kuasa oleh
(pemilik benefisial)
Nota-nota :
1. Ahli Syarikat yang berhak menghadiri dan mengundi di dalam mesyurat, berhak melantik seorang atau lebih proksi untuk hadir dan mengundi bagi pihaknya.
2. Suratcara pelantikan proksi hendaklah:i
dalam hal seorang individu, ditandatangani oleh pelantik atau oleh wakilnya; dan
ii dalam hal sebuah syarikat, sama ada di bawah meterai rasmi atau ditandatangani oleh wakil atau oleh seorang pegawai bagi pihak syarikat tersebut.
3. Di mana ahli syarikat melantik lebih daripada satu (1) proksi, pelantikan tersebut dikira tidak sah melainkan jika ahli syarikat tersebut menyatakan bahagian pegangan
sahamnya yang diwakili oleh setiap proksi.
4. Surat cara pelantikan proksi hendaklah didepositkan di Pejabat Berdaftar Syarikat, Aras 18, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100 Kuala Lumpur
tidak kurang dari 48 jam sebelum waktu yang telah ditetapkan untuk permulaan pengundian;
5. Seorang proksi boleh mengundi dengan secara mengangkat tangan atau pungutan suara. Sekiranya borang proksi dikembalikan tanpa dinyatakan sebarang kaedah
bagaimana proksi tersebut perlu mengundi untuk sebarang hal khusus, proksi berkenaan bolehlah menggunakan budi bicara beliau untuk mengundi.
6. Penyerahan borang proksi tidak menghalang seorang ahli untuk hadir sendiri pada mesyuarat sekiranya ahli berkenaan mengambil keputusan untuk hadir.
*Potong jika tidak berkenaan.
I/We
NRIC No./Passport No./Company No
of
telephone no
(Incorporated in Malaysia)
being a member/members of BIMB Holdings
Berhad (“the Company”), hereby appoint
FORM OF PROXY
in respect of
shares of
and/or
in respect of
shares
of
as my/our proxy/proxies to vote for me/us and on my/our behalf at the Extraordinary General
Meeting of the Company to be held on Thursday, 13 December 2007, at 9.30 a.m or at any
adjournment thereof. I/We indicate with an “x” in the appropriate spaces below as to how I/we
wish my/our vote to be cast:
Ordinary Resolution 1
To receive the Audited Accounts for the financial year ended 30 June 2007 together with the Reports of the
Directors and Auditors thereon.
To declare a first and final dividend of 2% less 26% tax in respect of the financial year ended 30 June
2007.
To re-elect Encik Salih Amaran bin Jamiaan, a Director who is retiring by rotation pursuant to Article 61 of the
Company’s Articles of Association and being eligible has offered himself for re-election.
To re-elect Encik Zahari @ Mohd Zin bin Idris , a Director who is retiring by rotation pursuant to Article 61 of
the Company’s Articles of Association and being eligible has offered himself for re-election.
To re-elect Tan Sri Samsudin Osman who is retiring pursuant to Article 66 of the Company’s Articles of
Association.
To approve the Directors’ fees for the financial year ended 30 June 2007.
To re-appoint Messrs. KPMG Desa Megat & Co. as External Auditors of the Company until the conclusion of
the next Annual General Meeting in year 2008 and to authorise the Directors to fix their remuneration.
Special Resolution 8
Proposed Amendment to the Articles of Association of the Company.
Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading
Nature.
For
Against
Subject to the abovestated voting instructions, my/our proxy may vote or abstain from voting on any resolution as *he/*she/*they may think fit.
If appointment of proxy is under hand
No. of shares held :
Securities Account No :
Signed by *individual member/*officer or attorney of member/*authorised nominee of
Date :
(beneficial owner)
If appointment of proxy is under seal
The Common Seal of
Seal
was hereto affixed in accordance with its
Articles of Association in the presence of :-
No. of shares held :
Securities Account No :
Date :
Director
Director/Secretary
In its capacity as *member/*attorney of member/*authorised nominee of
(beneficial owner)
Notes :
1. A member of the Company entitled to attend and vote at this meeting is entitled to appoint one or more proxies to attend and vote for him.
2. The instrument appointing a proxy shall :
i in case of an individual, be signed by the appointor or by his attorney; and
ii in case of a corporation, be either under its common seal or signed by its attorney or by an officer on behalf of the corporation.
3. Where a member appoints more than one (1) proxy the appointment shall specify the proportions of his holdings to be represented by each proxy.
4. The instrument appointing a proxy must be deposited at the registered Office of the Company at Level 18, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100
Kuala Lumpur, Malaysia not less than 48 hours before the time appointed for the taking of the poll; of the duly executed form of proxy are not acceptable.
5. A proxy may vote on a show of hands and on a poll. If the form of proxy is returned without an indication as to how the proxy shall vote on any particular matter, the proxy
may exercise his discretion as to whether to vote on such matter.
6. The lodging of a form of proxy does not preclude a member from attending and voting in person at the meeting should the member subsequently decides to do so.
*Delete if inappropriate
BIMB HOLDINGS BERHAD (423858-X)
Level 18, Menara Yayasan Tun Razak
55100 Kuala Lumpur
Tel: +603 2781 2999
Fax: +603 2781 2998

Rising to Meet the Challenge

Transcription

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