Annual 2008 Financial Statement Malaysia - Excel

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					                                                  SYARIKAT TAKAFUL MALAYSIA BERHAD

                                         UNAUDITED CONDENSED CONSOLIDATED INCOME STATEMENT
Company No. 131646-K
                                            FOR THE SECOND QUARTER ENDED 31 DECEMBER 2008

                                                                               Current     Corresponding              Current     Corresponding
                                                                               Quarter            Quarter                Year               Year
                                                                                Ended              Ended              To Date            To Date
                                                                            31.12.2008         31.12.2007          31.12.2008         31.12.2007
                                                                               RM'000             RM'000              RM'000             RM'000

  Operating revenue                                                           253,757            199,621             491,772            481,311

  Transfer from Revenue Accounts
  - Family Takaful                                                               9,720             25,841             28,583              53,683
  - General Takaful                                                             30,573              4,360             43,187              26,102
  Investment income                                                              2,379              4,984              3,686               8,993
                                                                                42,672             35,185             75,456              88,778
  Other operating income                                                         6,598              4,317             19,740               6,144
  Management expenses                                                          (35,698)           (32,829)           (75,267)            (71,639)
  Other operating expenses                                                      (4,864)            (1,789)             (8,666)            (2,442)
  Qard Hasan written off                                                           -              (10,001)                -              (10,001)
  Zakat                                                                           (980)              (323)             (1,994)            (1,148)
  Profit before taxation                                                         7,728             (5,440)             9,269               9,692
  Taxation                                                                         430               (684)               150              (2,630)
  Profit for the year                                                            8,158             (6,124)             9,419               7,062
  Attributable to:
  Shareholders of the Company                                                    6,002             (3,631)             7,568               7,998
  Minority Interest                                                              2,073             (2,493)             1,851                (936)


  Net profit for the year                                                        8,158             (6,124)             9,419               7,062



  Earnings per share (sen) ( Note 24 )
   Basic                                                                          3.69              (2.32)              4.66                5.10
   Diluted                                                                        3.69              (2.31)              4.65                5.10




  The Unaudited Condensed Consolidated Income Statement should be read in conjunction with the Annual Financial Statements for the financial year
  ended 30 June 2008.
                          SYARIKAT TAKAFUL MALAYSIA BERHAD

               UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
Company No. 131646-K        AS AT 31 DECEMBER 2008
Company No. 131646-K
                                                                    As at           As at
                                                                   End of      Preceding
                                                                  Current       Financial
                                                                  Quarter     Year Ended
                                                               31.12.2008      30.06.2008
                                                               Unaudited         Audited
                                                                 RM'000           RM'000

ASSETS
Shareholders' Assets
Property and equipment                                            39,894          42,237
Prepaid lease payment                                              3,614           3,618
Investment properties                                             26,091          26,369
Investments                                                      171,742         137,305
Financing receivables                                             14,631          12,702
Deferred tax assets                                               14,385          16,640
Qardh Hasan - receivables                                         80,861          80,861
Assets held for sale                                              44,043          39,364
Receivables                                                        1,667          16,945
Cash and bank balances                                            12,660           9,743
Total Shareholders' Assets                                       409,588         385,784
Total Family Takaful Assets                                    3,245,171       3,100,760
Total General Takaful Assets                                     624,145         592,282
Less Interfund balances                                          (50,411)        (31,527)
TOTAL ASSETS                                                   4,228,493       4,047,299

LIABILITIES
Shareholders' Liabilities
Liabilities held for sale                                          1,128           3,233
Payables                                                          52,656          44,391
Provision for taxation                                               822           2,125
Total Shareholders' Liabilities                                   54,606          49,749
Total Family Takaful Liabilities                                 215,337         189,494
Total General Takaful Liabilities                                344,629         315,105
Less Interfund balances                                          (50,411)        (31,527)
                                                                 564,161         522,821
Family Takaful Fund                                            3,029,834       2,911,266
General Takaful Fund                                             279,516         277,177
TOTAL LIABILITIES                                              3,873,511       3,711,264

SHAREHOLDERS' EQUITY
Share capital                                                    162,817         161,576
Reserves                                                         157,073         142,789
                                                                 319,890         304,365
Minority interests                                                35,092          31,670
                                                                 354,982         336,035

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                     4,228,493       4,047,299

 Net assets per share (RM)                                          1.96            1.88

The Unaudited Condensed Consolidated Balance Sheet should be read in conjunction with the
Annual Financial Statements for the financial year ended 30 June 2008.
Company No. 131646-K
                                                             SYARIKAT TAKAFUL MALAYSIA BERHAD

                                           UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Company No. 131646-K                                FOR THE SECOND QUARTER ENDED 31 DECEMBER 2008


                                                    Share          Share   Translation   Retained                        Total
                                                                                                   Minority Interest
                                                   Capital      Premium      Reserves      Profits                      Equity
                                                  RM '000        RM '000      RM '000     RM '000          RM '000     RM '000




   AT 1 JULY 2007 - as previously stated          156,302         2,795        (3,984)   142,515            37,704     335,332
   Prior year adjustment                                                                 (23,433)                      (23,433)
   As restated                                    156,302         2,795        (3,984)   119,082            37,704     311,899


   Exchange differences on
    translation of the financial
    statements of foreign entities                    -             -          (1,700)        -               (967)     (2,667)
   Net loss not recognised
    in the income statements                          -             -          (1,700)        -               (967)     (2,667)
   Net profit for the year                            -             -             -       29,705             (5,067)    24,638
   Dividend 2008 - Interim                            -             -             -        (4,163)              -       (4,163)
   AS AT 30 JUNE 2008                             161,576         3,849        (5,684)   144,624            31,670     336,035


   AS AT 1 JULY 2008                              161,576         3,849        (5,684)   144,624            31,670     336,035


   Exchange differences on
    translation of the financial
    statements of foreign entities                    -             -           6,550         -              1,571       8,121
   Net loss not recognised                                                                                                 -
    in the income statements                          -             -           6,550         -              1,571       8,121
   Issue of shares:                                                                                                        -
     - cash                                         1,241           249           -           -                 -        1,490
   Net profit for the year                            -             -             -        7,485             1,851       9,336
   Dividend                                           -             -             -           -                 -          -
   AS AT 31 DECEMBER 2008                         162,817         4,098          866     152,109            35,092     354,982
Company No. 131646-K

                       SYARIKAT TAKAFUL MALAYSIA BERHAD

                       UNAUDITED CONDENSED CONSOLIDATED
Company No. 131646-K
                         FAMILY TAKAFUL BALANCE SHEET
                             AS AT 31 DECEMBER 2008
                                                                     As at           As at
                                                                    End of      Preceding
                                                                   Current       Financial
                                                                   Quarter     Year Ended
                                                                31.12.2008      30.06.2008
                                                                Unaudited         Audited
                                                                  RM'000           RM'000

ASSETS

Property and equipment                                                237              261
Investment properties                                             219,446          219,552
Investment-linked Takaful assets                                  199,621          175,459
Investments                                                     2,604,589        2,466,908
Financing receivables                                               9,421           19,695
Receivables                                                       205,330          111,969
Cash and bank balances                                              6,527          106,916
TOTAL FAMILY TAKAFUL ASSETS                                     3,245,171        3,100,760

LIABILITIES

Payables                                                          163,320          129,538
Provision for outstanding claims                                   39,389           49,547
Investment-linked Takaful liabilities                              12,628           10,409
TOTAL FAMILY TAKAFUL LIABILITIES                                  215,337          189,494



PARTICIPANTS' FUND

Family Takaful Fund                                             3,029,834        2,911,266

TOTAL FAMILY TAKAFUL LIABILITIES AND
  PARTICIPANTS' FUND                                            3,245,171        3,100,760
                                                                      -


The Unaudited Condensed Consolidated Family Takaful Balance Sheet should be read in
conjunction with the Annual Financial Statements for the financial year ended 30 June 2008.

Company No. 131646-K
                                                          SYARIKAT TAKAFUL MALAYSIA BERHAD

                                     UNAUDITED CONDENSED CONSOLIDATED FAMILY TAKAFUL REVENUE ACCOUNT
Company No. 131646-K                           FOR THE SECOND QUARTER ENDED 31 DECEMBER 2008

                                                                                            Current     Corresponding              Current       Corresponding
                                                                                            Quarter            Quarter                Year                 Year
                                                                                             Ended              Ended              To Date              To Date
                                                                                         31.12.2008         31.12.2007          31.12.2008           31.12.2007
                                                                                            RM'000             RM'000              RM'000               RM'000

 Gross contribution                                                                        102,473             126,905            243,117              284,176
 Retakaful                                                                                   (4,313)            (3,020)             (4,608)             (5,416)
 Increase in actuarial reserves                                                              (3,472)               619             (12,936)             (7,734)
 Net contribution                                                                            94,688            124,504            225,573              271,026


 Benefits paid and payables                                                                 (50,630)           (52,343)          (123,078)            (123,167)
                                                                                             44,058             72,161            102,495              147,859


 Underwriting profit - Individual Family                                                     54,014             21,555             90,321               53,497
 Underwriting profit - Group Family                                                           1,349             50,462             23,301               93,957
 Underwriting profit - Group Family ILB                                                      (1,187)               142              (1,009)                403
                                                                                             54,176             72,159            112,613              147,857


 Underwriting profit -Group Family and others & ILB                                             162             50,604             22,292               94,360
 Investment income                                                                           37,095             38,410             71,798               76,452
 Other operating income                                                                           6                 30                190                  141
 Other operating expenses                                                                   (18,085)            (4,657)            (33,807)            (15,272)
 Total profit/(loss) for the period                                                          19,178             84,387             60,473              155,681
 Less: Allocation to special reserves                                                          (630)             1,213               (862)                   -
 Profit attributable to the Company
    and participants for the period                                                          18,548              85,600             59,611              155,681
 Profit attributable to education plan
    transferred to payables                                                                       -                (13)                      -             (29)
 Profit attributable to the Company
    transferred to income statement                                                          (9,721)           (25,840)            (28,583)            (53,682)
                                                                                              8,827             59,747             31,028              101,970
 Profit payable to participants                                                                   -                   -                  -                   -
 Profit attributable to the participants for the period                                       8,827             59,747             31,028              101,970




 Family Takaful Fund at beginning of the period                                           2,980,298          2,432,600          2,911,266            2,351,411
 Retained fund for the period - individual                                                   54,014             21,555             90,321               53,497
 Profit attributable to the participants for the period                                       8,827             59,747             31,028              101,970
 Movement for the period
   - Actuarial reserves                                                                       3,472               (619)            12,936                7,734
   - Excess pay-in                                                                           16,766                   -            16,766                    -
   - Unrealised gain in investment                                                          (12,870)             1,079             (12,870)              1,134
   - Qardhul Hassan                                                                         (11,232)            41,632             (11,232)             41,632
 Special Reserve                                                                                  -             (1,213)               232                    -
 Miscellaneous balances                                                                      (9,441)            (6,515)             (8,613)             (9,112)
 Family Takaful Fund at end of the period                                                 3,029,834          2,548,266          3,029,834            2,548,266
                                                                                             77,900                             2,354,700
                                                                                                                                   77,900

 The Unaudited Condensed Consolidated Family Takaful Revenue Account should be read in conjunction with the Annual Financial Statements for the financial year
 ended 30 June 2008.
Company No. 131646-K

                         SYARIKAT TAKAFUL MALAYSIA BERHAD

                        UNAUDITED CONDENSED CONSOLIDATED
Company No. 131646-K
                          GENERAL TAKAFUL BALANCE SHEET
                              AS AT 31 DECEMBER 2008
                                                                     As at           As at
                                                                    End of      Preceding
                                                                   Current       Financial
                                                                   Quarter     Year Ended
                                                                31.12.2008      30.06.2008
                                                                Unaudited         Audited
                                                                  RM'000           RM'000

ASSETS

Property and equipment                                                -                  6
Investment properties                                              43,052           43,052
Investments                                                       461,562          425,104
Financing receivables                                               3,614            2,024
Receivables                                                        99,947           81,819
Cash and bank balances                                             15,970           40,277
TOTAL GENERAL TAKAFUL ASSETS                                      624,145          592,282

LIABILITIES

Payables                                                          186,895          129,507
Provision for outstanding claims                                  157,734          185,598

TOTAL GENERAL TAKAFUL LIABILITIES                                 344,629          315,105



PARTICIPANTS' FUND

General Takaful Fund                                              279,516          277,177

TOTAL GENERAL TAKAFUL LIABILITIES AND
  PARTICIPANTS' FUND                                              624,145          592,282
                                                                      -


The Unaudited Condensed Consolidated General Takaful Balance Sheet should be read in
conjunction with the Annual Financial Statements for the financial year ended 30 June 2008.
                                                     SYARIKAT TAKAFUL MALAYSIA BERHAD

                        UNAUDITED CONDENSED CONSOLIDATED GENERAL TAKAFUL REVENUE ACCOUNT
Company No. 131646-K               FOR THE SECOND QUARTER ENDED 31 DECEMBER 2008

                                                                       Current    Corresponding       Current      Corresponding
                                                                       Quarter           Quarter         Year                Year
                                                                        Ended             Ended       To Date             To Date
                                                                    31.12.2008        31.12.2007   31.12.2008          31.12.2007
                                                                       RM'000            RM'000       RM'000              RM'000

  Gross contribution                                                  107,361            20,209      162,020              95,943
  Retakaful                                                           (47,422)          (31,962)     (60,077)            (28,756)
  Net contribution                                                     59,939           (11,753)     101,943              67,187
  Decrease/(increase) in
     unearned contribution reserve                                       (637)           27,135       10,310              21,816
  Earned contribution                                                  59,302            15,382      112,253              89,003
  Net claims incurred                                                  (8,394)          (43,599)     (32,413)            (80,947)
  Other expenses                                                       (5,029)           (1,080)      (5,029)             (4,511)
  Underwriting surplus                                                 45,879           (29,297)      74,811               3,545
  Investment Income                                                     4,450             9,105       11,151              15,747
  Other operating income                                                7,163                71        7,290                  79
  Other operating expenses                                             (5,604)           33,975      (19,812)              7,225
  Total (loss)/profit for the period                                   51,888            13,854       73,440              26,596
  Less : Allowance for diminution in value of investment                  -                 -                  -             -
  (Loss)/profit from operations                                        51,888            13,854       73,440              26,596
  Transfer to Income Statement                                        (30,573)           (4,360)     (43,187)            (26,102)
  Participants' share of (loss)/profit                                 21,315             9,494       30,253                 494
  (Loss)/profit payable to participants                                (4,801)              (70)     (13,915)               (304)
  (Loss)/profit attributable to participants for the period            16,514             9,424       16,338                 190
  Profit attributable to participants at beginning of the period:
   As previously reported                                              40,463            18,288       40,639              27,522
   Effect on adoption of FRS 140                                              -             -              -                 -
   Prior year adjustment                                                                    -                                -
  Profit attributable to participants at beginning of the period       40,463            18,288       40,639              27,522
  Transfer to Income Statement - Previous years surplus                                  (2,443)               -          (2,443)
  As at end of the period                                              56,977            25,269       56,977              25,269


  Reserve for unearned takaful contribution                           182,180           187,757      182,180             187,757
  Special Reserve                                                      21,830            23,061       21,830              23,061
  Statutory liabilities - Qardh Hasan                                  15,492            17,562       15,492              17,562
  Miscellaneous balance                                                 3,037              (606)       3,037                (606)
  General Takaful fund at end of the period                           279,516           253,043      279,516             253,043


  The Unaudited Condensed Consolidated General Takaful Revenue Account should be read in conjunction with the Annual Financial
  Statements for the financial year ended 30 June 2008.
                                   SYARIKAT TAKAFUL MALAYSIA BERHAD
                    GROUP CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 DECEMBER 2008
                        UNAUDITED CONDENSED CONSOLIDATED CASH FLOW STATEMENT

                                                                              Current    Corresponding
                                                                               Period            Period
                                                                               Ended             Ended
                                                                           31.12.2008        31.12.2007
                                                                              RM'000            RM'000

Cash flows from operating activities
 Profit before zakat and taxation                                             11,263             10,840
 Adjustments for :
     Depreciation :-
    - Shareholders' Fund                                                        3,547             5,948
    - Family Takaful Fund                                                          24                27
    - General Takaful Fund                                                          6                 1
   Income from financing receivables                                           (1,344)           (1,375)
   Income from Investment Accounts, Islamic Accepted Bills & Bonds            (62,452)          (75,483)
   Dividend income                                                             (6,900)           (6,019)
  Accretion                                                                    (2,202)           (1,284)
  Unrealised loss/(gain) of Investment                                         12,870            (1,134)
  Loss/(gain) on foreign exchange                                               5,961            (4,840)
  (Reversal of)/Allowance for diminution in value of quoted shares,
    unquoted shares and unit trusts :-
    - Shareholders' Fund                                                       5,353             (1,173)
    - Family Takaful Fund                                                     38,012             (8,814)
    - General Takaful Fund                                                    10,342                (15)
   Profit from Malaysian Government Investment Certificate                    (9,003)            (2,199)
   Reversal to non-performing financing receivable :-
    - Shareholders' Fund                                                       (2,742)              (72)
    - Family Takaful Fund                                                      (3,197)             (820)
    - General Takaful Fund                                                     (1,886)             (742)
 Operating loss before working capital changes                                 (2,348)          (87,154)

  Increase in Family Takaful Fund                                             118,569          196,857
  Increase in Group Family Takaful Fund                                           -
  Decrease in General Takaful Fund                                             (7,017)           (7,324)
  Purchase of investments                                                    (298,045)         (246,812)
  Profit from Malaysia Govt. Investment Certificates                            9,003             2,199
  Income from Investment Accounts, Islamic Accepted Bills & Bonds              62,452            75,483
  Dividend income                                                               6,900             6,019
  Income from financing receivables                                             1,344             1,375
  Loss on disposal of property and equipment                                      100               -
  Increase in payables (including claim admitted but not paid)                 74,081           103,024
  Increase in other receivables                                               (87,617)          (41,178)
                                                                             (122,578)            2,489
 Zakat paid                                                                       -                (103)
 Income taxes paid                                                             (1,194)              704
Net cash generated from operating activities                                 (123,772)            3,090

Cash flows from investing activities
 Purchase of property and equipment                                            (2,761)           (8,762)
 Purchase of investment properties                                                -              (1,819)

Net cash used in investing activities                                          (2,761)          (10,581)

Cash flows from financing activities
 Proceeds from the issuance of new share capital                                1,490             3,616
 Net cash used in financing activities                                          1,490             3,616

Net decrease in cash and cash equivalents                                    (125,043)           (3,875)
Cash and cash equivalents at the beginning of period                          167,321            96,362
Cash and cash equivalents at the end of period                                 42,278            92,487

Cash and cash equivalents comprise :
 Cash and bank balances
 - Shareholders' Fund                                                         12,660             11,985
 - Family Takaful Fund                                                         6,527             47,642
 - Investment Link Takaful Fund                                                6,908              1,493
 - General Takaful Fund                                                       15,970             31,367
 - Assets held for sale                                                          213                -
                                                                              42,278             92,487

				
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