LATEST UPDATES : 24 May 2018 | Immediate Announcement on Shares Buy Back
Corporate Information
Chairman Message
 

On behalf of the Board of Inch Kenneth Kajang Rubber Public Limited Company, I present herewith the One Hundred and Seventh Annual Report and Financial Statements of the Company and the Group for the financial year ended 31 December 2016.

 

DIVIDENDS

The Board has proposed an interim dividend payout of 2% (0.2 pence) as part of our commitment to deliver shareholders value, with the total dividends under the single tier system.

PERFORMANCE REVIEW

During the financial year under review, the Group recorded a revenue of RM10.834 million and a loss after tax of RM3.741 million compared to a revenue of RM10.289 million and a pre-tax loss of RM1.941 million for the previous year. The increase in Group’s turnover by RM0.545 million is mainly due to the higher bookings received from the travel agents and online travel agents by the tourism division during the financial year under review.

The plantation division recorded a lower revenue at RM0.266 million (2015: RM0.376 million) due to the decline in production of fresh fruit bunches (“FFB”) by 44% to 481 tonnes (2015: 868 tonnes). Revenue from the Group’s tourism division increased by 24.5% to RM8.395 million from RM6.744 million in 2015 due to higher bookings received.

Included in the above results for the financial year under review was a share of loss after taxation of RM0.171 million versus share of profit after taxation of RM4.598 million in 2015 from the Group’s associate – Concrete Engineering Products Berhad (“Cepco”), a manufacturer and distributor of prestressed spun concrete piles and poles. The decreased sales volume is attributable to the slower offtake in the overseas projects.

Overall, the total performance of the Group was mainly affected by the loss from Cepco.

CORPORATE DEVELOPMENT

The shareholders of the Company had approved an ordinary resolution at the One Hundred and Sixth AGM held on 24 May 2016 for the Company to purchase its own shares up to a maximum of 10% of the issued and paid-up capital of the Company. The Directors of the Company are committed to enhancing the value of the Company and believe that the purchase plan is being implemented in the best interest of the Company and its shareholders.

As at 31 December 2016, the Company has 17,540,800 ordinary shares held as treasury shares and the issued and paid-up share capital of the Company remained at 420,750,000 ordinary shares of £0.10 each.

FUTURE OUTLOOK

The Master Plan to develop the land bank in Kajang, totalling approximately 140 hectares is completed and has been submitted to Jabatan Alam Sekitar (“JAS”), Lembaga Lebuhraya Malaysia (“LLM”) and Jabatan Kerja Raya (“JKR”) for their approval.

We are certain that this township will impact positively to the socio-economic condition of the South Greater Klang Valley region.

On the tourism division, as was expected, revenue increased in 2016. Based on the marketing efforts put in place, we anticipate that 2017 will see even more tourists coming to the resort.

APPRECIATION

On behalf of the Board, I wish to express my appreciation to all our customers, shareholders, business partners, bankers and government authorities for their continued support and encouragement during the year.

Special thanks also goes to the management and staff. Your invaluable efforts and firm dedication to the Group are truly appreciated. We are confident that greater success is in the pipeline.

I would also like to take this opportunity to offer my personal gratitude to my fellow Board members for their diligent commitment and guidance.

DATO' ADNAN BIN MAARUF
Chairman

28 April 2017

 
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