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Financial Statements




   
Group Group
2007 2006
RM RM
Continuing Operation    
Revenue 83,079,137 65,743,858
Other operating income 480,903 78,446
Advertising expenses (1,240,618) (1,460,738)
(Allowance)/Writeback for doubtful debts 524,024 (348,897)
Contract and outsourcing cost (14,671,196) (13,804,935)
Depreciation (1,455,794) (1,161,524)
Rental of office (904,649) (819,012)
Staff costs (23,399,452) (18,949,917)
Telecommunication expenses (464,094) (563,097)
Traveling expenses (851,096) (820,742)
Other operating expenses (9,673,241) (7,028,855)
Results from operating activities 31,423,924 20,864,587
Interest income 1,094,852 801,182
Finance costs (7,802) -
Gain on deemed disposal of equity interest in
- a subsidiary - 3,294,567
- an associate - 24,832
Operating profit 32,510,974 24,985,168
Share of profit/(loss) after tax and minority interest of equity accounted associates and a jointly-controlled entity 1,151,759 (88,934)
Profit before tax 33,662,733 24,896,234
Tax expense (3,379,481) (2,267,789)
Profit for the year 30,283,252 22,628,445
Attributable to:
Shareholders of the Company 28,886,030 21,709,231
Minority interest 1,397,222 919,214
Profit for the year 30,283,252 22,628,445
 
Basic earnings per ordinary share (sen) 9.44 7.15
 
Diluted earnings per ordinary share (sen) 9.08 6.89
     
   
Group Group
2007 2006
RM RM
Assets
Property and equipment 13,690,082 13,833,791
Intangible assets 2,978,047 2,808,856
Investments in subsidiaries - -
Investments in associates and a jointly-controlled entity 10,906,896 4,198,910
Other investments - -
Deferred tax assets 206,720 693,328
Total non-current assets 27,781,745 21,534,885
     
Other investments 21,921,243 10,021,285
Receivables, deposits and prepayments 10,277,180 10,188,886
Current tax assets 177,457 177,946
Cash and cash equivalents 54,480,359 36,325,147
Total current assets 86,856,239 56,713,264
Total assets 114,637,984 78,248,149
 
Equity
Share capital 61,441,920 20,306,500
Reserves 676,124 8,051,539
Retained earnings 23,053,142 31,894,290
Total equity attributable to shareholders of the Company 85,171,186 60,252,329
Minority interest 1,248,173 1,123,690
Total equity 86,419,359 61,376,019
 
Liabilities
Deferred tax liabilities 68,867 8,925
Total non-current liabilities 68,867 8,925
     
Deferred income 12,128,628 7,750,996
Payables and accruals 14,145,529 8,294,651
Taxation 1,875,601 817,558
Total current liabilities 28,149,758 16,863,205
Total liabilities 28,218,625 16,872,130
   
Total equity and liabilities 114,637,984 78,248,149
     
   
Group Group
2007 2006
RM RM
Cash flows from operating activities
Profit before tax 33,662,733 24,896,234
Adjustments for:
Depreciation 1,455,794 1,161,524
Impairment of goodwill 160,366
Property and equipment written off 1,139 361
(Gain)/Loss on disposal of property and equipment (1,868) 476
Share-based payments 412,700 392,020
Share of (profit)/loss after tax and minority interest of equity accounted associates and a jointly-control entity (1,151,759) 88,934
Dividend income - -
Gain on deemed disposal of equity interest of
- a subsidiary - (3,294,567)
- an associate - (24,832)
Interest income (1,094,852) (801,182)
Gain on disposal of investments in unit trusts (236,228) -
Investment distribution income (709,259) (230,480)
Impairment loss for other investments 226,122 -
Impairment loss for investment in a jointly-controlled entity 438,012 -
Unrealised foreign exchange loss 84,658 98,910
Operating profit before working capital changes 33,247,558 22,287,398
Changes in working capital:
Receivables, deposits and prepayments 408,336 (577,623)
Deferred income 4,288,889 1,849,442
Payables and accruals 3,681,017 2,427,523
Cash generated from/(used in) operations 41,625,800 25,986,740
Income tax paid (2,047,338) (1,046,349)
Interest received 1,094,852 801,182
Net cash from/(used in) operating activities 40,673,314 25,741,573
 
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired 491,740 (54,327)
Acquisition of an associate (6,885,260) (336,155)
Acquisition of intellectual property (330,000) -
Disposal of equity interest of a subsidiary, net cash outflow - (66,675)
Increase in investment in a subsidiary - -
Investment distribution income received 709,259 230,480
Acquisition of other investments (18,889,852) (10,021,285)
Issuance of shares to minority interest - 437,640
Purchase of property and equipment (1,337,287) (2,978,981)
Proceeds from disposal of property and equipment 6,312 15,712
Proceeds from redemption of investments in quoted unit trusts 7,000,000 -
Dividends received - -
Net cash (used in) /from investing activities (19,235,088) (12,773,591)
 
Cash flows from financing activities
Dividends paid to shareholders of the Company (3,045,977) (2,538,311)
Dividends paid to minority shareholders (1,485,538) (1,884,957)
Proceeds from issuance of shares pursuant to ESOS 1,196,640 1,115,100
Payment of corporate restructuring expenses (684,269) -
Net cash used in financing activities (4,019,144) (3,308,168)
     
Net increase/(decrease) in cash and cash equivalents 17,419,082 9,659,814
 
Cash and cash equivalents at beginning of the year 36,325,147 26,558,381
 
Effects of exchange rate changes on cash and cash equivalents 736,130 106,952
 
Cash and cash equivalents at end of year 54,480,359 36,325,147
 
Cash and cash equivalents comprise:
Deposits with licensed banks 50,246,652 32,872,385
Cash and bank balances 4,233,707 3,452,762
54,480,359 36,325,147