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PANTAI HOLDINGS BERHAD (“PHB”)
(Company No: 11832-K)
NOTES TO THE INTERIM FINANCIAL REPORT
1. Basis of preparation
The interim financial report is unaudited and has been prepared in compliance with MASB
26, Interim Financial Reporting and Chapter 9 part K of the Bursa Malaysia Securities
Listing Requirements (“Bursa Securities LR”) of the Kuala Lumpur Stock Exchange.
The interim financial report should be read in conjunction with the annual audited financial
statements of the Group for the yearyear ended 30 June 20024.
The accounting policies and methods of computation adopted by the Group in this interim
financial report are consistent with those adopted in the financial statements for the yearyear
ended 30 June 20042, except for the amortisation of goodwill.
During the current financial yearperiod, the Group has revised and standardised the Formatted: Not Highlight
amortisation rate of its goodwill to 25 years to more realistically reflect the estimated useful
lives of the goodwill. The effect on the financial statements of this change in estimate is to
decrease current amortisation charge and correspondingly increase profit before taxation for
the current yearperiod by approximately RM4.63.5 million. Formatted: Not Highlight
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2. Audit Report of the pPreceding aAnnual Ffinancial Sstatements
The auditors’ report of the preceding annual financial statements for year ended 30 June
2004 was not subject to any qualification.was subject to qualification.
In the Auditors’ Report, the auditors have expressed an opinion that the Group’s carrying
value of the investment in an associated company is impaired.
The Board of Directors of PHB is of the opinion that there is no impairment in the carrying
value of the investment as it is supported by its recoverable amounts.
3. Seasonal or cyclical factors
As the Group’s activities are predominantly in the health care industry, which is wholly
carried out in Malaysia, the exposure to seasonal and cyclical factors is minimal or of no
influence at all.
4. Unusual items affecting assets, liabilities, equity, net income or cash flows
In accordance to the Group’s accounting policy on impairment of assets, where an indication
of impairment exists, the carrying amount of assets is assessed and written down
immediately to its recoverable amount. Following the demutualization of Bursa Malaysia
Securities Berhad (formerly known as Malaysia Securities Exchange Berhad) (“Bursa
Securities”), the Directors are of the opinion that the carrying amount of the investments in
an associated company has been impaired. The impairment of the investments in an
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5
associated company has resulted in the Group’s retained profits to decrease by
approximately RM88.7 million.There were no unusual items affecting the Group for the
financial period ended 31 December 2004.
5. Changes in estimates
There were no material changes in estimates for the financial periodyearperiodyear ended
31 March 200330 June 200331 December0 June 2004.
Formatted: Indent: Hanging: 0.25"
6. Debt and equity securities
(i) On 18 October 2004 the Company issuedFor the current financial year up to30 June Formatted: Indent: Left: 0.25", Hanging:
200417,182,415RM18,922,520 32,264,151 new ordinary shares of RM1.00 each, 0.25"
pursuant to the following proposals:-
Formatted: Indent: Hanging: 0.25"
a. Acquisition by Pantai Hospitals Sdn Bhd (“PHSB”) of the remaining 49% equity Formatted: Indent: Left: 0.5", Hanging:
interest in Cheras Medical Centre Sdn Bhd (“CMC”) comprising 2,940,001 ordinary 0.25"
shares of RM1.00 each not already owned by PHB from CRSC Property Sdn Bhd
(“CRSC”) for a purchase consideration of RM8,800,000 satisfied by the issuance of
8,301,887 new434 Pantai Holdings Berhad (“PHB”) shares at an issue price of
RM1.06 per share. (Hereafter called “CMC Acquisition”)
Formatted: Indent: Hanging: 0.25"
b. Acquisition by CMC of a piece of freehold land held under title no. HS(D) 98726, Formatted: Indent: Left: 0.6", Hanging:
PT4820, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah 0.25"
Persekutuan, measuring approximately 4,607 square metres, together with a 5-
storey hospital building with one basement level erected thereon (“Property”) from
Chase Crest Sdn Bhd (“CCSB”) for a purchase consideration of RM25,400,000
satisfied by the issuance of 23,962,264 new PHB shares at an issue price of
RM1.06 per share. (Hereafter called “Property Acquisition”)
Formatted: Indent: Hanging: 0.25"
(ii) Formatted: Indent: Left: 0.25", Hanging:
0.25"
For the current financial periodyear On 1 August 2002, RM66,991,467 nominal value of 5- Formatted: Indent: Left: 0.25"
year 5% irredeemable convertible unsecured loan stocks 2002/2007 (“ICULS Formatted: Font color: Auto
2002/2007”) at 100% of its nominal value together with 66,991,467 free detachable
warrants were issued by PHB pursuant to a rights
issue on the basis of one (1) ICULS with one (1) free warrant for every one (1) existing Formatted: Indent: Left: 0.25", Hanging:
ordinary share of RM1 held. 0.25"
As at 31 March 200330 June 2003, 6,631,346 ordinary shares of RM1 each were issued
pursuant to the conversion of RM7,427,111 nominal value of ICULS 2002/2007 at the
rate of RM1.12 for every one (1) ordinary share.
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6
up to 22 February 200531 March 200330 June 200330 June 2004, the Company purchased Formatted: Font color: Auto
a total of 7,483,90021,139017,400 units of its own shares through open market at the Formatted: Font color: Auto
minimum price of RM0.7750.660 and the maximum price of RM101.0300.835. The said Formatted: Font color: Auto
shares are retained as treasury shares.
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7. Dividend paid Formatted: Font color: Auto
The Board of Directors have declared an interim dividend on the ordinary shares of the Formatted: Font color: Auto
Company of 1% less income tax of 28% per share (31.12.2003: NIL) amounting to
Formatted: Not Highlight
RM2,810,155 for the financial period ended 31 December 2004 (31.12.2003: NIL). The
book closure and payment dates in respect of the dividend will be determined by the Board Formatted: Font color: Auto
of Directors at a later date. Formatted: Indent: Hanging: 0.25"
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The directors do not recommend any interim dividend for the financial periodyear ended 31 Formatted: Indent: Hanging: 0.25"
March 200330 June 2003. Formatted: Font: Not Bold
Formatted: Indent: Hanging: 0.25"
A final dividend amounting to RM4,466,678 in respect of the previous financial year ended 30
June 2002 was paid on 20 January, 2003. Formatted: Left, Indent: First line: 0"
A final dividend amounting to RM4,514,569 in respect of the previous financial year ended 30 Formatted: Indent: Hanging: 0.25"
June 2003 was paid on 6 February 2004. Formatted Table
Formatted: Centered
The Board of Directors have recommended a first and final dividend of 2% less income tax of
Formatted: Indent: Hanging: 0.25"
28% (2003: 1% less income tax of 28%, 0.5% tax exempt) amounting to RM5,263,473 for
the financial year ended 30 June 2004, subject to Shareholders’ approval at the forthcoming Formatted ...
Annual General Meeting. The book closure and payment date in respect of the proposed Formatted: Right: 0.13"
dividend will be determined by the Board of Directors at a later date. Formatted: Indent: Left: 0.13"
Formatted ...
8. Segment information
Formatted: Right: 0.13"
Formatted: Indent: Left: 0.13"
Current quarter Current year to-date
By Activity ended ended Formatted: Right: 0.13"
31/12/2004 31/12/2004Turnover Formatted ...
By Activity PBT Formatted: Indent: Left: 0.13"
Turnover PBT Turnover PBT
Formatted ...
RM’000 RM’000 RM’000 RM’000
Formatted: Indent: Left: 0.13"
170,100299,1
Hospital services 86,177 6,283 3210,2276,728 Formatted: Right: 0.13"
170,227324,031,61352,19 Formatted: Right: 0.13"
Healthcare supportsupport services 81,688 15,415 30 6 Formatted ...
(8,755)(14,4
Formatted: Indent: Left: 0.13"
Investments holding & others - (5,178) -- 72)
Formatted ...
340,327623,133,08544,45
167,865 16,520 62 2 Formatted: Indent: Left: 0.13"
1,718(39,10 Formatted: Right: 0.13"
Associated companies - 851 -- 7) Formatted: Right: 0.13"
340,327623,1 Formatted ...
167,865 17,371 6234,8035,345
Formatted: Indent: Left: 0.13"
(3,387)(98,3
Consolidation adjustments - (1,707) -- 99) Formatted ...
340,327623,131,416(93,0 Formatted: Right: 0.13"
Total 167,865 15,664 62 54) Formatted: Indent: Left: 0.13"
Formatted: Indent: Hanging: 0.25"
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9. Valuation of property, plant and equipment
The Group does not state any assets based on valuation of its property, plant and Formatted: Indent: First line: 0"
equipment.
10. Subsequent material events
There are no material events subsequent to current financial period and up to the date of Formatted: Indent: Left: 0.3", First line: 0"
this report which have not been reflected in the financial statement except as disclosed in
paragraph 6 and 11.Between 1 April 20023 to 237 May 2003, the Company purchased Formatted: Not Highlight
6,714,000 units of its own shares at the minimum price of RM0.625 and maximum price of Formatted: Not Highlight
RM0.670 through open market. The shares so purchased were retained as treasury Formatted: Not Highlight
shares.July 27 August 2004 3,159,000 RM0.775RM0.960
Comment [LY1]:
11. Changes in composition of the Group
(i) On 18 October 2004, PHSB acquired an additional 49% equity interest in CMC Formatted: Indent: Left: 0.25", Hanging:
comprising 2,940,001 ordinary shares of RM1.00 each for a total cash consideration of 0.35", Tab stops: 0", Left
RM8,800,000 from CRSC. The aforesaid acquisition has increased PHSB’s
shareholding in CMC from its present 3,060,001 ordinary shares or 51% equity
interest, to 6,000,002 or 100%.
Formatted: Tab stops: 0.25", Left
(ii) On 17 January 2005, Pantai Support Services Sdn Bhd (“PSS”), a wholly owned
subsidiary of PHB, subscribed for additional 225,000 ordinary shares of RM1 each in
PM Care Sdn Bhd (“PM Care”) by capitalizing of advances given to PM Care
amounting to RM5,058,000. The said subscription has increased PSS’s shareholdings
in PM Care from its present 510,000 ordinary shares or 51% equity interest to 735,000
or 60%
December the member’s voluntary liquidation ofcompleted.
Formatted: Font: Not Bold
a. On 3 September 2002, Pantai Support Services Sdn Bhd, (“PSS”), a wholly-owned
subsidiary, subscribed for an additional 799,998 ordinary shares of RM1 each in ePantai
Sdn Bhd (“ePantai”) for a consideration of RM799,998. The said subscription has increased
PSS’s shareholding in ePantai from its present 2 ordinary shares to 800,000, representing
80% equity interest thereon.
Formatted: Font: (Default) Arial, 11 pt
8
Formatted: Indent: Left: 0", Hanging: 0.25"
OOn the same date, Pantai Medicare Sdn Bhd (“PMCare”), a 51% owned subsidiary,
subscribed for 200,000 ordinary shares of RM1 each, representing 20% equity interest in
ePantai for a consideration of RM200,000.
b.On 27 December 2002, Pantai Hospitals Sdn Bhd (“PHSB”), a wholly-owned subsidiary, Formatted: Bullets and Numbering
subscribed for an additional 2,999,998 ordinary shares of RM1 each in Hospital Pantai
Indah Sdn Bhd (“HPI”) (formerly known as Carta Ambang Sdn Bhd) for a consideration of
RM2,999,998, thereby increasing PHSB’s shareholding in HPI to 3,000,000 ordinary shares,
representing the entire issued and paid-up capital in HPI.
c.On 2 January 2003, PHSB subscribed for an additional 5,475,000 ordinary shares of RM1 Formatted: Bullets and Numbering
each in Syarikat Tunas Pantai Sdn Bhd (“STPSB”) for a consideration of RM5,475,000. The
said subscription has increased PHSB’s shareholding in STPSB from its present 13,893,750
ordinary shares or 75% equity interest to 19,368,750 or 80.7%.
d.On 8 April 2003, Hospital Pantai Ayer Keroh Sdn Bhd (“HPAK”), a 70% owned subsidiary, Formatted: Bullets and Numbering
subscribed for an additional 256,667 ordinary shares of RM1 each in Kemilau Kurnia Sdn
Bhd (“KKSB”) for a cash consideration of RM256,667. The said subscription has increased
HPAK’s shareholding in KKSB from its present 2 ordinary shares to 256,669, representing
70% equity interest thereon.
12. Contingent liabilities/Ccontingent assets
There are no material contingent liabilities or assets for the Group as at 31 March 200330
June 200330 June 200431 December 2004.
13. Taxation Formatted: Indent: First line: 0"
Formatted: Indent: Left: 0.13", First line: 0"
The taxation for the current quarter and yearyear to-date are as follows:- Formatted: Indent: First line: 0"
Formatted: Indent: Left: 0.13", First line: 0"
Current Current
quarter yearyear to-date Formatted: Indent: First line: 0"
ended ended Formatted: Indent: Left: 0.13", First line: 0"
31001/36612/200 31010/636612//20 Formatted: Indent: Left: 0.13", First line: 0"
4 04
Formatted: Indent: First line: 0"
RM'000 RM'000
Formatted: Indent: First line: 0"
Current period / year provisionProvision for the (4,280)(4,68 (8,989)(11,7
year 7) 29) Formatted: Indent: Left: 0.13", First line: 0"
Over/(under) provision in Formatted: Indent: First line: 0"
prior period/year Formatted: Indent: Left: 0.13", First line: 0"
Deferred taxation (2,107) (2,107) Formatted: Indent: Left: 0.13", First line: 0"
Share of tax in associated companies (77)(89) (177)(1,214)
Formatted: Indent: Left: 0.13", First line: 0"
Deferred taxation
(4,357)(6,88 (9,166)(15,0 Formatted: Indent: First line: 0"
3) 50) Formatted: Indent: Left: 0.13", First line: 0"
Formatted: Indent: First line: 0"
Formatted: Indent: First line: 0"
The tax charge for the current quarter and cumulative current periodyearyear quarter areis Formatted: Indent: First line: 0"
in relation to profit making subsidiaries as there is no tax relief available for losses made by
Formatted: Font: (Default) Arial, 11 pt
9
other loss making subsidiaries in the Group as there is no tax relief available for losses
made by other loss making subsidiaries in the Group. Formatted: Not Highlight
Formatted: Indent: Hanging: 0.25"
14. Sales of unquoted investments and properties
There were no sale of unquoted investments and properties for the quarter ended 31 Formatted: Indent: Left: 0.25", First line: 0"
December 2004 other than in the ordinary course of business.
Formatted: Font: Not Bold
145.Quoted Securitiessecurities
(a.) Formatted: Indent: Left: 0.25"
The movements in quoted securities during the financial periodyearyearyearperiod ended 30
June 200131 March 200330 June 200330 June 200431 December 2004 are as follows:-
Current Current
quarter yearyear to-date
ended ended
3100/36631/12/2 1030/31/12636/2
004 004
RM'000 RM'000
Total purchases - 95,606- Formatted Table
Total disposals - 595-6-
Total gain on disposal -- -647-
(b) Investments in quoted securities as at the end of the periodyearyear:-
RM’000 Formatted: Indent: Left: 0.13", First line: 0"
At cost 4198,858495
Formatted: Indent: Left: 0.13", First line: 0"
Formatted: Font: (Default) Arial, 11 pt
10
At carrying value/book value 113,083 Formatted: Indent: Left: 0.13", First line: 0"
Formatted: Indent: Left: 0.13", First line: 0"
At market value 73,33276,223 Formatted Table
At market value 53109,838,685
Formatted: Indent: Left: 0.13", First line: 0"
165.Corporate proposals
(i) The proceeds from the issuance of RM150,000,000 nominal value of 5-yearyear 5% Formatted: Indent: Left: 0", Hanging: 0.6"
redeemable secured bonds (“Bonds issue”) have been utilised in the following manner
as at 31 March 200330 June 200330 June 200431 December 2004:-
Proposed Utilised Formatted Table
RM’000 RM,’000
Repayment of bank borrowings 65,000 65,000
Purchase of medical equipment for Pantai Medical
Centre, Bangsar 23,000 23,000
Construction of new hospital in Klang 12,000 2,000132
Subscription of shares in Avenue Capital Resources
Berhad ((“ACRB”), formerly known as Avenue
Asset Berhad) t to be issued pursuant to ACRB’s 18,200 18,200
proposed rights issue
Estimated expenses for the proposals 3,800 3,800
Working capital 840 840
TOTAL 122,840 1120,840
972
Formatted: Indent: Left: 0.25", Hanging:
(ii) On 16 January 2004, CMC entered into a sale & purchase agreement in respect of the 0.38"
Property Acquisition (“Agreement”), which has become unconditional with the issuance
and quotation of the consideration shares on 18 October 2004 and 28 October 2004
respectively, as disclosed in paragraph 6(i)(b) above. The memorandum of transfer of
the Property in favour of CMC (“Transfer”) has been presented at the Pejabat Tanah &
Galian Wilayah Persekutuan, Kuala Lumpur (“Land Registry”) on 10 January 2005.
Pursuant to the terms of the Agreement, upon presentation of the Transfer at the Land Formatted: Indent: Left: 0.6", Hanging:
Registry, the Agreement is deemed completed. The aforesaid presentation is currently 0.03"
pending registration by the Land Registry.
Formatted: Indent: Left: 0.25", Hanging:
0.38"
Formatted: Font: (Default) Arial, 11 pt
11
Formatted: Indent: Left: 0.25", Hanging:
0.38"
s
On 16 January 2004, the Company announced the following:-
A. (“PHB Shares”)B. (“CCSB”)ti (Collectively referred as the “Proposals”)
The Proposals are conditional upon the following approvals being obtained:
(i) the Securities Commission (“SC”), of which approval was obtained on 12 May 2004;
(ii) the SC (on behalf of the Foreign Investment Committee), of which approval was
obtained on 12 May 2004;
(iii) the shareholders of PHB, at an Extraordinary General Meeting (“EGM”) to be
convened on 14 September 2004;
(iv) the shareholders of CCSB and CMC, of which approval were both obtained on 16
January 2004;
(v) Bursa Securities, for the listing of and quotation for the new PHB Shares to be issued
pursuant to the Proposed Property Acquisition; and
(vi) the holders of RM150,000,000 nominal value of 5% Redeemable Secured Bonds
2002/2007 (“Bondholders”), at the Bondholders meeting to be convened on 14
September 2004.
vOn 2 July 2004, the Company announced its proposals to vary certain Bye-Laws of its
existing Employees’ Share Option Scheme (“Proposed Bye-Laws Amendments’) and
certain clauses of the Company’s Article of Association (“Proposed AA Amendments”)
after taking into consideration of the recent amendments to the Bursa Securities LR in
relation to share schemes for employees, which was effective on 10 February 2004.
The Proposed Bye-Laws Amendments and Proposed AA Amendments are conditional
upon approvals being obtained from the following:-
(i) the shareholders of PHB at an EGM to be convened on 14 September 2004 for the
Proposed Bye-Laws Amendments and Proposed AA Amendments; and
(iii) the Bondholders of PHB, at the Bondholders meeting to be convened on 14
September 2004 for the Proposed AA Amendments.
The Proposed Bye-Laws Amendments is inter-conditional upon the Proposed AA
Amendments.
Formatted: Indent: Hanging: 0.25"
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12
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
167.Group borrowings Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Total Group’s borrowings as at 31 March 200330 June 20033031 December 2004 June Formatted: Indent: Hanging: 0.25"
2004 were as follows:- Formatted: Indent: Left: 0.13"
Formatted: Indent: Left: 0.13"
Total Loans
RM'000 Formatted Table
Long Term Borrowings Formatted: Indent: Hanging: 0.25"
- 5-yearsyears 5% redeemable secured bonds 2002/2007 1373,778062272 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
- Long term loans – Secured
Formatted: Indent: Hanging: 0.25"
48,9894163189,8
Total outstanding balances 88 Formatted: Indent: Left: 0.13"
Repayable within next 12 months (18,13418,251) Formatted: Indent: Left: 0.13"
130,855391371,6 Formatted Table
37 Formatted: Indent: Hanging: 0.25"
1668,633975
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Short Term Borrowings
19,35323,54125,7 Formatted: Indent: Left: 0.13"
- Secured 08 Formatted: Indent: Hanging: 0.25"
- Unsecured 8665452,943 Formatted: Indent: Left: 0.13"
- Current portion of long term loans – secured 18,13418,251
Formatted: Indent: Hanging: 0.25"
40,14842,54146,9
Formatted: Indent: Hanging: 0.25"
02
Grand total 211,174071232 Formatted: Indent: Left: 0.13"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Formatted: Indent: Hanging: 0.25"
Formatted: Font: (Default) Arial, 11 pt
13
187. Off balance sheet financial instruments
During the financial yearperiod-to-date, the Group did not enter into any contracts involving Formatted: Indent: Left: 0.3"
off balance sheet financial instruments.
Formatted: Indent: Hanging: 0.25"
189. Material litigation
Neither the Company nor its subsidiary companies are engaged in any material litigation Formatted: Indent: Left: 0.3", First line: 0"
either as plaintiff or defendant and the Directors of the Company are not aware of any other
proceedings pending or threatened against the Company and its subsidiary companies or
any facts likely to give rise to any proceedings which might material affect the position and
business of the Company and its subsidiaries companies.
Save as disclosed below, neither the Company nor its subsidiary companies are engaged in any Formatted: Indent: Hanging: 0.25"
material litigation either as plaintiff or defendant and the Directors of the Company are not
aware of any other proceedings pending or threatened against the Company and its
subsidiary companies or any facts likely to give rise to any proceedings which might
materially affect the position and business of the Company and its subsidiary companies.
On 22 February 2002, PHB and Pantai Support Services Sdn Bhd (“PSS”) (its wholly owned
subsidiary) were served with a petition (“Pantai Petition”) under section 181 of the
Companies Act, 1965 by Balakrishnan a/l Vairavapillai (“the Petitioner”) a minority
shareholder of PHB and was also put on notice that the Petitioner had on 21 February 2002,
obtained an ex-parte interlocutory injunction restraining PHB from issuing or causing to be
issued 92,966,361 ordinary shares of RM1.00 each in PHB, to the vendors of Anjur Dinamik
Sdn Bhd, Pengkalan Usaha (M) Sdn Bhd and Healthpac Industries Sdn Bhd (collectively,
“Acquiree Companies”).
On 6 March 2002, on the application of PHB and PSS, the ex-parte interlocutory injunction
obtained by the Petitioner was set aside by the High Court of Kuala Lumpur.
On 29 May 2004, on the application of PHB and PSS, the Pantai Petition was struck out by
the High Court of Kuala Lumpur with cost against the Petitioner. The Petitioner has filed a
notice of appeal on 25 June 2004.
1920. Quarterly analysis
Formatted: Indent: Hanging: 0.25"
Preceding Formatted Table
Current quarter quarter
Formatted: Indent: Hanging: 0.25"
31010/36612/2004 30111/093123/20 Variance
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14
022004
RM'000 RM'000 RM'000 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.13"
Profit / (Loss) before taxation 15,66411,9385,903 15,752(121,384) (88)133,3221,474 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Not Highlight
Formatted: Indent: Left: 0.13"
The Group has achieved a profit before taxation of RM11.9 million for the current quarter as
compared to a loss before taxation of RM121.4 million in the preceding quarter.
Comparison for both quarters is affected by the share of losses and impairment loss in an
associated company, Avenue Capital Resources Berhad (“ACRB”), amounting to
approximately RM41.3 million and RM88.7 million respectively. This was recorded in the
preceding quarter.
As such, the Group recorded a profit before taxation of RM11.9 million in the current quarter, as Formatted: Indent: Hanging: 0.25"
compared to RM8.6 million in the preceding quarter, an improvement in the performance of
the Group’s core activities.
20. 21. Review of performance
The Group recorded a turnover and profit before taxation of RM340.3623.2374.2 million Formatted: Indent: Left: 0.3"
and RM31.4 million respectively for the 612 months period twelvenine months ended 31
March 200330 June 200330 31 DecemberJune 2004. Turnover of RM623.2 milliThe
turnover and profit before taxation areon is mainly contributed by the Group’s core activities
which have generated approximately RM58.9 million profit before taxation for the current
financial year. which are the provision of hospital and healthcare support services.
Formatted: Indent: Left: 0.05", Hanging:
In the opinion of the Directors, the results of the operations for the current financial period 0.25"
have not been affected by any item, transaction or event of a material and unusual nature
which has arisen between 31 December 2004 and the date of this announcement.
The profit from operations continued to improve from RM84.9 million for the preceding financial
year ended 30 June 2003 to RM94.6 million for the current financial year ended 30 June
2004.
As a result of the share of losses and impairment loss in ACRB of RM130.0 million in the
preceding quarter, the Group reported a loss before taxation RM93.1 million for 12 months
period ended 30 June 2004.
Formatted: Indent: Left: 0.05"
Formatted: Indent: Hanging: 0.25"
221. Prospects
Barring any unforeseen circumstances, The performance of the core activities of the Group, Formatted: Not Highlight
i.e. the hospitals and healthcare support services, which are the core activities of the Formatted: Indent: Left: 0.3"
Group, will continue is expected to perform reasonably well and continue to improveperform
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15
well for the remaining period of the financial yearnextthe next financial year. Necessary Formatted: Not Highlight
actions have been taken to address other operating risks to ensure that the budgeted
results can be achieved.
Formatted: Indent: Hanging: 0.25"
Barring any unforeseen circumstances, the Board of Directors is optimistic that the overall
performance for the current financial remainder of the financial year ending 30 June 2003 to
be favourable. Necessary actions have been taken to address other operating risks to
ensure that the budgeted results can be achieved.
223. Profit forecast or profit guarantee
Not applicable. Formatted: Indent: Hanging: 0.2"
Formatted: Indent: Left: 0"
24. Earnings per share Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted Table
Formatted: Indent: First line: 0"
Formatted: Indent: Left: 0.05", First line: 0"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.05"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.05", First line: 0"
23.
Formatted: Indent: Hanging: 0.25"
Earnings per share Formatted: Indent: Left: 0.05", First line: 0"
Formatted Table
Current Current
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Quarter YearYear To
Formatted: Indent: Left: 0.05", First line: 0"
Date
31001.12636. 31001.36612.2 Formatted Table
2004 004 Formatted: Indent: Hanging: 0.25"
RM’000 RM’000 Formatted: Indent: Left: 0.05", First line: 0"
A. BASIC
Formatted: Indent: Hanging: 0.25"
Net Profit / (Loss) for the period period 10,0084,477 19,508(112,118)
Formatted: Indent: Left: 0.05", First line: 0"
Number of ordinary shares in issue as of 1 Oct / April41 Jan 385,390 Formatted Table
2003 /11 July 20024 361,76473339 360,932 Formatted: Indent: Hanging: 0.25"
366,271 Formatted: Indent: Left: 0.05", First line: 0"
Issuance of ordinary shares 32,264 32,264 Formatted: Indent: Hanging: 0.25"
Conversion of ICULS 2002/2007 -203 -17,182
Formatted: Not Highlight
Exercise of ESOSConversion of ICULS 2002/2007 -36 -6436,632
Number of ordinary shares in issue as of 31 Dec 31 March 367,564394,02 417,6545,38936 Formatted: Not Highlight
200330 June 200330 June 22004 83,578 7,564 Formatted: Not Highlight
Less : Treasury Shares (1,0838,0591,0(24,709)9,870(1, Formatted: Indent: Left: 0.05"
17)) 017) Formatted: Indent: Hanging: 0.25"
Formatted: Not Highlight
Adjusted number of ordinary shares 366,547392,94 392,94565,519
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16
565,519 366,547 Formatted: Not Highlight
Formatted: Indent: Left: 0.05", First line: 0"
Basic earnings / (loss) per share (sen) 0.391.222.55 4.96(30.67)0.82 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Left: 0.05"
B. DILUTED
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The fully diluted earnings per ordinary share for current quarter and current year to date are not
presented as the conversion of all outstanding loan stocks of the Company into ordinary Formatted: Indent: Left: 0.05", First line: 0"
shares of RM1 each would result in an anti dilution situation. Formatted: Indent: Hanging: 0.25"
Formatted: Font: Not Bold
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25", Right:
-0.13"
Current Current Year Formatted: Right: -0.13"
Quarter To Formatted: Centered, Right: -0.13"
DateCurrent
Quarter
31.12.2004 31.12.200430.6 Formatted: Right: -0.13"
.2004 Formatted: Centered, Right: -0.13"
RM’000 RM’000RM’000 Formatted: Right: -0.13"
B. DILUTED
Formatted: Centered, Right: -0.13"
Net profit for the period 10,008 4,47719,508
Adjustment for after tax effect of interest income arising from Formatted: Indent: Hanging: 0.25"
the proceed from exercise of ESOS 135 152270 Formatted: Indent: Hanging: 0.25"
Adjustment for after tax effect of interest saving from the Formatted Table
exercise of ICULS 2002/2007 326 Formatted: Indent: Hanging: 0.25"
383653
Formatted: Indent: Hanging: 0.25"
Adjusted net profit for the period 10,469 5,01220,431 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Number of ordinary shares in issue as of 31 Dec31 Dec 20034 392,945 365,392,945519 Formatted: Indent: Hanging: 0.25"
Assumed conversion of ICULS 2002/2007 36,287 36,28736,287 Formatted Table
Assumed conversion of ESOS 25,037 25,03728,057
Formatted: Indent: Hanging: 0.25"
Adjusted weighted average number of diluted ordinary shares 454,269 454,269429,863 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Diluted earnings per share (sen) 2.30 4.501.17 Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
The fully diluted earnings per ordinary share for current year to-date are not presented as the
Formatted: Indent: Hanging: 0.25"
conversion of all outstanding loan stocks and warrants as well as the exercise of ESOS of
the Company into ordinary shares of RM1 each would result in an anti dilution situation. Formatted: Indent: Hanging: 0.25"
Formatted: Indent: Hanging: 0.25"
Formatted: Font: (Default) Arial, 11 pt
17
