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Laporan Tahunan Annual Report 2001

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produced byGroup Public Affairs Division Gamuda Berhad 29579 - T

diterbitkan oleh No. 55-61 Jalan SS22/23Bahagian Hal-Ehwal Awam Kumpulan Damansara Jaya

47400 Petaling JayaSelangor Darul EhsanMalaysiaTel 603 7729 8094Fax 603 7728 9811E-mail [email protected] www.gamuda.com.my

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VOTED

Our People , Our Strength

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BEST MANAGED ASIAN CONSTRUCTION COMPANY

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Our People, Our Strength

Few deeds are accomplished alone. We have our engineering & construction team, design &technical, tender & budget and we make every team search for opportunity for the company.This is the power of the team we have. As we celebrate our 25th Anniversary this year,we salute our people for taking our business to where it is today.

from left to right

1st row Elisna Ismail Senior IT Executive Lillian Chan Sales Executive

Manjit Singh HR & Admin Executive Eddie Chan Architect & Planning Manager

Tee Seng Poh Section Head

2nd row Linda Lim Senior Sales Manager Paul Ong Construction Manager

Sharon Kuah Assistant Quantity Surveyor Zilfalela Mohd Kamal Secretary

Hasmafikri Harun Senior Contracts Executive

3rd row Liew Sheong Perk IT Executive Shahriza Swayonoh Receptionist

Pua Boon Hin Chief Surveyor Krishnamoorthy Naidu Training Executive

Susheela Ramasamy Senior HR Executive

4th row Denise Chong Assistant Manager, Insurance Elaine Koh Design Engineer

Mujiati Siono General Assistant Mohd Amjad Faruq Site Engineer

Hasnah Mohammed Senior Training Manager

GamudaTeamwork Principles1 Solve the problem Concentrate on resolving problems and meeting objectives

2 Lead by setting the right example Displaying the right behaviour shows commitment andwill motivate others to follow

3 Maintain constructive relationships Cultivate positive attitudes and interpersonalrelationships

4 Communicate openly Open and honest communication provides the flow of information tomake the right decisions

5 Demonstrate mutual trust and respect Trust is what makes teamwork possible

Sumber Manusia, Kekuatan Kami

Sebesar manakah kejayaan yang boleh dicapai jika dilakukan bersendirian? Kami mempunyaipasukan kejuruteraan & pembinaan, reka bentuk & teknikal, tender & budget dan kamimendorong setiap pasukan meninjau berbagai peluang yang boleh memanfaatkan syarikat. Inilahkelebihan yang ada pada pasukan kami. Sempena ulang tahun ke 25, kami mengambilkesempatan ini untuk memberi sanjungan kepada sumber manusia yang membolehkan kamimencapai kejayaan sehingga kini.

dari kiri ke kanan

barisan 1 Elisna Ismail Eksekutif IT Kanan Lillian Chan Eksekutif Jualan

Manjit Singh Eksekutif Sumber Manusia & Pentadbiran Eddie Chan

Pengurus Arkitek & Perancangan Tee Seng Poh Ketua Seksyen

barisan 2 Linda Lim Pengurus Jualan Kanan Paul Ong Pengurus Pembinaan

Sharon Kuah Penolong Juruukur Bahan Zilfalela Mohd Kamal Setiausaha

Hasmafikri Harun Eksekutif Kontrak Kanan

barisan 3 Liew Sheong Perk Eksekutif IT Shahriza Swayonoh Penyambut Tetamu

Pua Boon Hin Ketua Juruukur Krishnamoorthy Naidu Eksekutif Latihan

Susheela Ramasamy Eksekutif Kanan, Sumber Manusia

barisan 4 Denise Chong Penolong Pengurus, Insurans Elaine Koh Jurutera Reka

Bentuk Mujiati Siono Pembantu Am Mohd Amjad Faruq Jurutera Tapak

Hasnah Mohammed Pengurus Latihan Kanan

GamudaPrinsip-prinsip Semangat Berpasukan 1 Menyelesaikan masalah Tumpukan perhatian menyelesai masalah dan memenuhi objektif

2 Kepimpinan melalui teladan Pamerkan kelakuan baik sebagai bukti komitmen yang akanmenjadi pendorong kepada orang lain

3 Mengekalkan hubungan membina Pupuk sikap positif dan hubungan antara insan

4 Komunikasi terbuka Komunikasi yang terbuka dan jujur menyediakan aliran maklumat untukmembuat keputusan yang tepat

5 Tampilkan semangat saling mempercayai dan menghormati Kepercayaan adalahintisari keberkesanan semangat berpasukan

FINANCIAL STATEMENTS

62 Directors’ Report

69 Statement by Directors/Statutory Declaration

70 Auditors’ Report

71 Consolidated Balance Sheet

72 Consolidated Income Statement

73 Consolidated Statement of Changes In Equity

74 Consolidated Cash Flow Statement

76 Balance Sheet

77 Income Statement

78 Statement of Changes In Equity

79 Cash Flow Statement

81 Notes to the Financial Statements

DIRECTORS’ REPORT

62

The directors hereby submit their report together with the audited financial statements of the Group and the Company for thefinancial year ended 31 July 2001.

PRINCIPAL ACTIVITIESThe principal activities of the Company are that of investment holding and civil engineering construction.

The principal activities of the subsidiaries are described in Note 13 to the financial statements.

There were no significant changes in these activities during the financial year except for the activities of the new subsidiaries.

RESULTSGroup Company

RM’000 RM’000

Profit after taxation 196,185 72,399Minority interests (4,477) –

Net profit attributable to shareholders 191,708 72,399

DIVIDENDSThe amount of dividends paid or declared by the Company since 31 July 2000 were as follows:

RM’000

In respect of the financial year ended 31 July 2000

Final dividend of 4% tax exempted paid on 5 February 2001 26,608

In respect of the financial year ended 31 July 2001

Interim dividend of 4% tax exempted paid on 19 April 2001 26,611

The directors recommend a final dividend of 4% less 28% taxation amounting to RM19,163,000 in respect of the currentfinancial year.

RESERVES AND PROVISIONSThere were no material transfers to or from reserves or provisions during the financial year other than those disclosed in thestatements of changes in equity.

BAD AND DOUBTFUL DEBTSBefore the income statements and balance sheets were made out, the directors took reasonable steps to ascertain that actionhad been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and satisfiedthemselves that there were no known bad debts and that adequate provision had been made for doubtful debts.

At the date of this report, the directors are not aware of any circumstances that would require any amounts to be written offas bad debts or render the amount of provision for doubtful debts in the financial statements of the Group and the Companyinadequate to any substantial extent.

DIRECTORS’ REPORT

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WARRANTSThe Warrants 1996/2001 are constituted by a Deed Poll dated 23 December 1996 executed by the Company for the holders ofthe Warrants 1996/2001. In 1999, the subscription period was extended for a further period of five years from 29 December2001 to 29 December 2006.

The Warrants 1996/2006 may be exercised at any time on and after 30 December 1996 up to 29 December 2006. EachWarrant 1996/2006 carries the entitlement to subscribe for one new ordinary share of RM1.00 in the Company at anexercise price of RM4.21 each, which are subject to adjustment in accordance with the provisions in the Deed Poll. AnyWarrants 1996/2006 which have not been exercised at the date of maturity will lapse and cease to be valid for any purpose.

The shares arising from the exercise of Warrants 1996/2006 shall rank pari passu in all respects with the ordinary shares of theCompany except that they shall not be entitled to any rights, dividends or other distributions unless the exercise of Warrants1996/2006 was effected before the book closure of the share registers for the determination of the entitlement to such rightsor distributions.

As at the balance sheet date, the total number of Warrants 1996/2006 which remain unexercised amounted to 76,650,642units.

The Warrants 2001/2007 are executed pursuant to the issuance of renounceable rights issue of up to 166,297,668 newwarrants during the financial year.

The Warrants 2001/2007 are constituted by a Deed Poll dated 27 November 2000 executed by the Company for the holdersof the Warrants 2001/2007.

The Warrants 2001/2007 may be exercised at any time on and after 22 February 2001 up to 21 August 2007. Each Warrant2001/2007 carries the entitlement to subscribe for one new ordinary share of RM1.00 in the Company at an exercise price ofRM3.75 each, which is subject to adjustment in accordance with the provisions in the Deed Poll.Any Warrants 2001/2007 whichhave not been exercised at the date of maturity will lapse and cease to be valid for any purpose.

The shares arising from the exercise of Warrants 2001/2007 shall rank pari passu in all respects with the ordinary shares of theCompany except that they shall not be entitled to any rights, dividends or other distributions unless the exercise of Warrants2001/2007 was effected before the book closure of the share registers for the determination of the entitlement to such rightsor distributions.

As at the balance sheet date, the total number of Warrants 2001/2007 which remain unexercised amounted to 166,297,668units.

At the date of this report, none of the Warrants 1996/2006 and Warrants 2001/2007 were converted into ordinary sharessubsequent to the end of the financial year.

EMPLOYEES’ SHARE OPTION SCHEMEThe Gamuda Berhad Second Employees’ Share Option Scheme (“ESOS”) was approved by shareholders at the ExtraordinaryGeneral Meeting held on 31 October 2000 and became effective on 26 December 2000 upon final approval by the SecuritiesCommission. Pursuant to the ESOS, options to subscribe for 28,205,000 new ordinary shares of RM1.00 each were granted toeligible employees.

The principal features of the ESOS are as disclosed in Note 18 (b) to the financial statements.

DIRECTORS’ REPORT

63

CURRENT ASSETSBefore the income statements and balance sheets were made out, the directors took reasonable steps to ensure that anycurrent assets which were unlikely to be realised in the ordinary course of business including their values as shown in theaccounting records of the Group and the Company have been written down to an amount which they might be expected so torealise.

At the date of this report, the directors are not aware of any circumstances which would render the values attributed to thecurrent assets in the financial statements of the Group and the Company misleading.

VALUATION METHODSAt the date of this report, the directors are not aware of any circumstances which have arisen which render adherence to theexisting methods of valuation of assets or liabilities of the Group and the Company misleading or inappropriate.

CONTINGENT AND OTHER LIABILITIESAt the date of this report, there does not exist:

(a) any charge on the assets of the Group and the Company which has arisen since the end of the financial year which securesthe liabilities of any other person; or

(b) any contingent liability of the Group and the Company which has arisen since the end of the financial year.

No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve monthsafter the end of the financial year which, in the opinion of the directors, will or may substantially affect the ability of the Groupand the Company to meet their obligations when they fall due.

CHANGE OF CIRCUMSTANCESAt the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or thefinancial statements of the Group and the Company which would render any amount stated in the financial statementsmisleading.

ITEMS OF AN UNUSUAL NATUREThe results of the operations of the Group and the Company during 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 orevent of a material and unusual nature likely, in the opinion of the directors, to affect substantially the results of the operationsof the Group or the Company for the financial year in which this report is made.

SIGNIFICANT EVENTSThe significant events during the financial year are as disclosed in Note 31 to the financial statements.

SUBSEQUENT EVENTSThe subsequent events are as disclosed in Note 32 to the financial statements.

DIRECTORS’ REPORT

65

EMPLOYEES’ SHARE OPTION SCHEME (cont’d)The movement in the options and the option price were as follows:

Balance Exercised from

unissued 1 August 2001

as at to the date

Option Price Granted Retracted* Accepted Exercised 31 July 2001 of this report

RM3.25 20,532,000 658,000 19,874,000 154,000 19,720,000 351,000RM3.45 7,673,000 – 7,673,000 10,000 7,663,000 94,000

* due to resignations or offer not taken-up

SHARE CAPITALDuring the financial year, the Company increased its

(a) authorised share capital from RM1 billion to RM2 billion through the creation of 1 billion ordinary shares of RM1.00 each;and

(b) issued and paid-up share capital from RM665,191,000 to RM665,355,000 via issuance of 164,000 new ordinary shares ofRM1.00 each pursuant to the exercise of ESOS.

DIRECTORSThe directors who served since the date of the last report are:

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd HashimY Bhg Dato’ Lin Yun LingY A M Raja Dato’ Seri Eleena Azlan ShahNg Kee LeenGoon Heng WahY Bhg Dato’ Kamarul Zaman bin Mohd AliHa Tiing TaiWong Chin YenSaw Wah Theng Azmi Mat Nor (appointed as alternate to Heng Teng Kuang on 22 December 2000, ceased as

alternate to Heng Teng Kuang on 1 August 2001 and appointed as director on24 September 2001)

Chow Chee Wah (appointed as alternate to Chan Kuan Nam @ Chan Yong Foo on 22 December2000, ceased as alternate to Chan Kuan Nam @ Chan Yong Foo on 1 August2001 and appointed as alternate to Y Bhg Dato’ Lin Yun Ling on 24 September2001)

Y Bhg Datuk Ab Rahman bin Omar (appointed on 22 October 2001)Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi (appointed on 22 October 2001)Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim (appointed on 22 October 2001)Chan Kuan Nam @ Chan Yong Foo (resigned on 1 August 2001)Heng Teng Kuang (resigned on 1 August 2001)

In accordance with the Company’s Articles of Association,Y A M Raja Dato’ Seri Eleena Azlan Shah, Ng Kee Leen, Saw WahTheng, Azmi Mat Nor, Y Bhg Datuk Ab Rahman bin Omar, Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi and Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim retire at the forthcoming Annual General Meeting and, being eligible, offerthemselves for re-election.

DIRECTORS’ REPORT

66

DIRECTORS (cont’d)Y Bhg Dato’ Lin Yun Ling retires at the forthcoming Annual General Meeting in compliance with the Listing Requirements of theKuala Lumpur Stock Exchange and being eligible, offers himself for re-election.

The Composition of the Audit Committee, Nomination Committee and Remuneration Committee are as follows:

Audit CommitteeY M Raja Dato’ Seri Abdul Aziz bin Raja Salim (Chairman)Y Bhg Tan Sri Dato’ Mohd Ramli bin KushairiNg Kee LeenWong Chin Yen

Nomination CommitteeY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim (Chairman)Y Bhg Tan Sri Dato’ Mohd Ramli bin KushairiWong Chin Yen

Remuneration CommitteeY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim (Chairman)Y Bhg Dato’ Lin Yun LingY M Raja Dato’ Seri Abdul Aziz bin Raja Salim

DIRECTORS’ BENEFITSDuring and at the end of the financial year, no arrangements subsisted to which the Company is a party with the object ofenabling directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Companyor any other body corporate, other than the share options granted pursuant to the Company’s ESOS.

Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than abenefit included in the aggregate amount of emoluments received or due and receivable by the directors as shown in Note 22to the financial statements or the fixed salary of a full time employee of the Company) by reason of a contract made by theCompany or a related corporation with the director or with a firm of which he is a member, or with a company in which hehas a substantial financial interest.

DIRECTORS’ INTERESTSAccording to the register of directors’ shareholdings, the interests of directors in office at the end of the financial year inshares, warrants and options in the Company and its related corporations during the financial year were as follows:

Number of Ordinary Shares of RM1 Each

1 August 2000/

date of 31 July

appointment Sold 2001

Gamuda Berhad

Direct HoldingY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim 825,828 – 825,828Y Bhg Dato’ Lin Yun Ling 56,848,818 – 56,848,818Ng Kee Leen 14,516,114 – 14,516,114Goon Heng Wah 11,471,158 – 11,471,158Y Bhg Dato’ Kamarul Zaman bin Mohd Ali 1,498,000 280,000 1,218,000Ha Tiing Tai 13,447,938 240,000 13,207,938Saw Wah Theng 540,000 440,000 100,000Azmi Mat Nor 10,000 – 10,000

DIRECTORS’ REPORT

67

DIRECTORS’ INTERESTS (cont’d)Number of Ordinary Shares of RM1 Each

1 August 2000/date of 31 July


Gamuda Berhad

Direct Holding (cont’d)Chow Chee Wah 149,000 147,000 2,000Chan Kuan Nam @ Chan Yong Foo 18,178,462 2,620,000 15,558,462Heng Teng Kuang 14,674,794 – 14,674,794

Indirect HoldingY A M Raja Dato’ Seri Eleena Azlan Shah* 92,486,928 – 92,486,928

* Deemed interest through Generasi Setia (M) Sdn Bhd

Employees’ Share Option Scheme

Number of Options1 August 2000/ Allotted on

date of 26 December 31 Julyappointment 2000 Exercised 2001

Y Bhg Dato’ Lin Yun Ling – 500,000 – 500,000Ng Kee Leen – 500,000 – 500,000Goon Heng Wah – 500,000 – 500,000Y Bhg Dato’ Kamarul Zaman bin Mohd Ali – 500,000 – 500,000Ha Tiing Tai – 500,000 – 500,000Saw Wah Theng – 500,000 – 500,000Chow Chee Wah – 450,000 – 450,000Chan Kuan Nam @ Chan Yong Foo – 500,000 – 500,000Heng Teng Kuang – 500,000 – 500,000

Warrants 1996/2006Number of Warrants

1 August 2000/date of 31 July


Direct HoldingY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim 110,110 – 110,110Y Bhg Dato’ Lin Yun Ling 8,053,442 – 8,053,442Ng Kee Leen 2,288,000 – 2,288,000Goon Heng Wah 1,788,158 – 1,788,158Y Bhg Dato’ Kamarul Zaman bin Mohd Ali 172,000 – 172,000Ha Tiing Tai 1,704,000 – 1,704,000Chan Kuan Nam @ Chan Yong Foo 3,957,332 – 3,957,332Heng Teng Kuang 3,553,076 – 3,553,076

Indirect HoldingY A M Raja Dato’ Seri Eleena Azlan Shah* 13,724,000 – 13,724,000


Each warrant entitles the registered holder to subscribe for one new share in the Company at any time within ten yearsfollowing the date of issue on 30 December 1996.

DIRECTORS’ REPORT

68

DIRECTORS’ INTERESTS (cont’d)Warrants 2001/2007

Number of Warrants

1 August 2000/ Allotted on

date of 22 February 31 July

appointment 2001 Sold 2001

Direct HoldingY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim – 206,457 – 206,457Y Bhg Dato’ Lin Yun Ling – 12,240,551 – 12,240,551Ng Kee Leen – 4,308,335 – 4,308,335Goon Heng Wah – 2,996,000 – 2,996,000Ha Tiing Tai – 3,477,000 – 3,477,000Y Bhg Dato’ Kamarul Zaman bin Mohd Ali – 351,500 20,000 331,500Saw Wah Theng – 96,000 – 96,000Chan Kuan Nam @ Chan Yong Foo – 4,433,000 – 4,433,000Heng Teng Kuang – 3,670,000 – 3,670,000

Indirect HoldingY A M Raja Dato’ Seri Eleena Azlan Shah* – 23,122,000 – 23,122,000


Each warrant entitles the registered holder to subscribe for one new share in the Company at any time within six and a halfyears following the date of issue on 22 February 2001.

At the end of the financial year,Wong Chin Yen did not have any interest in shares, warrants and options in the Company or itsrelated corporations during the financial year.

NUMBER OF EMPLOYEES AND REGISTERED OFFICEThe number of employees in the Group and the Company at the end of the year were 1,232 (2000: 1,289) and 121 (2000: 482)respectively. During the year, the Company transferred 307 staff to a subsidiary company in the Group.

The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Board of theKuala Lumpur Stock Exchange.The registered office of the Company is located at 55-61, Jalan SS22/23, Damansara Jaya, 47400Petaling Jaya.

AUDITORSArthur Andersen & Co. retire and have indicated their willingness to accept re-appointment.

Signed on behalf of the Board in accordance with a resolution of the directors

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd HashimChairman

Saw Wah ThengFinance Director

Petaling JayaDated: 8 November 2001

STATEMENT BY DIRECTORS

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We, Y BHG TAN SRI DATO’ IR TALHA BIN HAJI MOHD HASHIM and SAW WAH THENG, being two of the directors ofGAMUDA BERHAD, do hereby state that, in the opinion of the directors, the financial statements set out on pages 71 to 110give a true and fair view of the state of affairs of the Group and the Company as at 31 July 2001 and of their results and theircash flows for the year then ended, and have been properly drawn up in accordance with the provisions of the Companies Act,1965 and applicable approved accounting standards in Malaysia.

Signed on behalf of the Board in accordance with a resolution of the directors

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim

Saw Wah Theng

Petaling Jaya8 November 2001

I, SAW WAH THENG, the director primarily responsible for the financial management of GAMUDA BERHAD, do solemnly andsincerely declare that the financial statements set out on pages 71 to 110 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 theStatutory Declarations Act, 1960.

Subscribed and solemnly declared by the )abovenamed SAW WAH THENG )at Kuala Lumpur in Wilayah Persekutuan )on 8 November 2001 ) Saw Wah Theng

Before me:

Mohd Radzi bin Yasin (W327)Commissioner for Oaths

STATUTORY DECLARATION

AUDITORS’ REPORT

70

To the Shareholders of GAMUDA BERHAD

We have audited the financial statements set out on pages 71 to 110. These financial statements are the responsibility of theCompany’s directors. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with approved Standards on Auditing in Malaysia.Those standards require that we planand 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. Anaudit also includes assessing the accounting principles used and significant estimates made by the directors, as well as evaluatingthe overall financial statement presentation.We believe that our audit provides a reasonable basis for our opinion.

In our opinion:

(a) the financial statements have been prepared in accordance with the provisions of the Companies Act, 1965 and applicableapproved accounting standards in Malaysia and give a true and fair view of:

(i) the state of affairs of the Group and the Company as at 31 July 2001 and of their results and their cash flows for theyear then ended; and

(ii) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements; and

(b) the accounting and other records and the registers required by the Act to be kept by the Company have been properlykept in accordance with the provisions of the Act.

We are satisfied that the financial statements of the subsidiaries that have been consolidated with the financial statements of theCompany are in form and content appropriate and proper for the purposes of the preparation of the consolidated financialstatements and we have received satisfactory information and explanations required by us for those purposes.

The auditors’ reports on the financial statements of the subsidiaries were not subject to any qualification and, in respect ofsubsidiaries incorporated in Malaysia, did not include any comment made under subsection (3) of Section 174 of the Act.

Arthur Andersen & Co. Abraham Verghese a/l T V AbrahamNo.AF 0103 No. 1664/10/02(J)Public Accountants Partner of the Firm

Dated: 8 November 2001

CONSOLIDATED BALANCE SHEET 31 July 2001

71

2001 2000

Note RM’000 RM’000

Current Assets

Cash and bank balances 7,747 3,874Deposits 3 352,117 167,204Receivables 4 550,229 188,235Inventories 6 15,611 15,347Development properties 7 362,316 99,967Amount due from customers for construction contracts 8 73,530 35,336

1,361,550 509,963

Current Liabilities

Bank borrowings 9 8,915 10,691Bonds 19 (a) 115,000 –Payables 10 476,008 93,208Amount due to customers for construction contracts 8 82,077 30,243Taxation 8,853 25,901Proposed dividend 19,281 26,727

710,134 186,770

Net Current Assets 651,416 323,193Other Investments 12 3,440 3,975Associated Companies 14 879,244 761,484Property, Plant and Equipment 15 120,956 125,005Net Goodwill Arising on Consolidation 16 3,033 5,211Concession Rights 17 70,000 –

1,728,089 1,218,868Financed by:Share Capital 18 665,389 665,191Reserves 550,626 407,424

1,216,015 1,072,615Minority Interests 3,351 18,490Long Term Liabilities 19 508,723 127,763

1,728,089 1,218,868

The accompanying notes are an integral part of this balance sheet.

CONSOLIDATED INCOME STATEMENT for the year ended 31 July 2001

72

2001 2000


Revenue 20 831,283 637,488Other operating income 21 8,134 8,527Changes in stock of finished goods and work in progress 1,170 (13,627)Purchases – raw material and consumables (20,184) (29,530)

– trading material (14,805) (79)Construction contract costs recognised as contract expenses 8 (604,544) (419,098)Production overheads (2,216) (2,346)Land and development cost (4,420) –Staff costs 22 (25,015) (24,864)Depreciation (9,171) (10,410)Other operating expenses 23 (15,340) (24,697)

Profit from operations 144,892 121,364Finance costs 24 (15,125) (6,045)Interest income 14,276 11,363Share of profit of associated companies 131,992 79,380

Profit before taxation 276,035 206,062Taxation 25 (44,505) (34,706)Share of taxation of associated companies (35,345) (22,615)

Profit after taxation 196,185 148,741Minority interests (4,477) (1,926)

Net profit for the year 191,708 146,815

Earnings per share 27

Basic earnings per share 29 sen 23 senFully diluted earnings per share 28 sen 22 sen

The accompanying notes are an integral part of this statement.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the year ended 31 July 2001

73

Share Share Retained

capital premium * profits ** Total

RM’000 RM’000 RM’000 RM’000

At 1 August 1999 295,804 189,833 326,142 811,779Conversion of warrants 19,023 47,625 – 66,648Exercise of ESOS 28,150 72,573 – 100,723Allotment of bonus shares 322,214 – – 322,214Conversion for bonus issue – (270,992) (51,222) (322,214)Net profit for the year – – 146,815 146,815Dividends (Note 26) – – (53,350) (53,350)

At 31 July 2000 665,191 39,039 368,385 1,072,615Exercise of ESOS 164 371 – 535Capital raising related expenses – (3,182) – (3,182)Share application monies 34 79 – 113Net profit for the year – – 191,708 191,708Dividends (Note 26) – – (45,774) (45,774)

At 31 July 2001 665,389 36,307 514,319 1,216,015

* Non-distributable** Distributable


CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July 2001

74

2001 2000

RM’000 RM’000

Cash Flows from Operating Activities

Profit before taxation 276,035 206,062Adjustments for:

Attributable profits on development properties (1,396) –Attributable profits on construction contracts (146,912) (159,311)Depreciation 9,171 10,410Property, plant and equipment written off 680 747Unrealised loss/(gain) on foreign exchange 20 (17)Net provision for retirement benefits 288 94Provision for diminution in value of investment 535 –Provision for doubtful debts 138 263Writeback of provision for diminution in value of investment – (57)Gain on disposal of property, plant and equipment (799) (875)Inventories written off 172 37Share of associated companies’ profits (131,992) (79,380)Net goodwill on consolidation amortised 182 248Amortisation of goodwill on an associated company 2,313 –Interest income (14,276) (11,363)Interest expense 15,125 6,045

Operating profit/(loss)before working capital changes 9,284 (27,097)Decrease/(increase) in working capital:

Inventories (436) (10,196)Receivables (369,672) 92,160Development properties (119,457) (99,967)Net amount due from customers for construction contracts 165,786 140,541Payables 332,231 24,298Short term borrowings 1,403 895

Cash generated from operations 19,139 120,634Dividend received from associated companies 12,968 3,031Income taxes paid (59,964) (18,382)Interest paid (18,084) (13,081)Retirement benefits paid – (144)

Net cash (used in)/generated from operating activities (45,941) 92,058

CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July 2001

75

2001 2000

RM’000 RM’000

Cash Flows from Investing Activities

Proceeds from disposal of investments – 35Purchases of property, plant and equipment (14,475) (24,979)Proceeds from sale of property, plant and equipment 1,732 1,682Investment in associated companies (19,465) (175,129)Acquisition of subsidiary net of cash acquired (Note 13) (69,816) –Payment to minority shareholders for the acquisition of subsidiary (18,400) –Interest received 14,276 11,363

Net cash used in investing activities (106,148) (187,028)

Cash Flows from Financing Activities

Proceeds from conversion of warrants – 66,550Proceeds from ESOS and share application monies 648 100,721Proceeds from issuance of bonds and warrants 400,000 –Repayment of bonds – (75,000)Capital raising related expenses (3,182) –Dividend paid to shareholders (53,219) (44,450)Dividend paid to minority shareholders (193) (66)

Net cash generated from financing activities 344,054 47,755

Net increase/(decrease) in cash and cash equivalents 191,965 (47,215)Cash and cash equivalents at 1 August 2000/1999 167,591 214,806

Cash and cash equivalents at 31 July 359,556 167,591

Cash and cash equivalents comprise:

Cash and bank balances 7,747 3,874Fixed deposits 352,117 167,204Bank overdrafts (308) (3,487)

359,556 167,591


BALANCE SHEET 31 July 2001

76

2001 2000


Current Assets

Cash and bank balances 556 1,738Deposits 3 58,286 100,190Receivables 4 362,535 162,405Due from subsidiaries 5 313,871 187,110Inventories 6 1,099 1,012Amount due from customers for construction contracts 8 2,376 3,009

738,723 455,464Current Liabilities

Bonds 19 (a) 115,000 –Payables 10 45,398 59,139Due to subsidiaries 11 57,750 22,840Amount due to customers for construction contracts 8 34,497 26,985Taxation 2,889 21,038Proposed dividend 19,281 26,727

274,815 156,729

Net Current Assets 463,908 298,735Other Investments 12 718 718Subsidiaries 13 181,140 69,540Associated Companies 14 608,130 573,965Property, Plant and Equipment 15 59,492 61,344

1,313,388 1,004,302Financed by:

Share Capital 18 665,389 665,191Reserves 237,736 213,843

903,125 879,034Long Term Liabilities 19 410,263 125,268

1,313,388 1,004,302

The accompanying notes are an integral part of this balance sheet.

INCOME STATEMENT for the year ended 31 July 2001

77

2001 2000


Revenue 20 344,776 577,397Other operating income 21 20,853 10,788Changes in stock of finished goods 87 1,012Construction contract costs recognised as contract expenses 8 (241,921) (456,632)Staff costs 22 (13,309) (13,232)Depreciation (4,338) (2,527)Other operating expenses 23 (2,150) (5,516)

Profit from operations 103,998 111,290Finance costs 24 (14,628) (5,645)Interest income 7,568 9,226

Profit before taxation 96,938 114,871Taxation 25 (24,539) (29,539)

Net profit for the year 72,399 85,332


STATEMENT OF CHANGES IN EQUITY for the year ended 31 July 2001

78

Share Share Retained

capital premium * profits ** Total

RM’000 RM’000 RM’000 RM’000

At 1 August 1999 295,804 189,833 194,044 679,681Conversion of warrants 19,023 47,625 – 66,648Exercise of ESOS 28,150 72,573 – 100,723Allotment of bonus shares 322,214 – – 322,214Conversion for bonus issue – (270,992) (51,222) (322,214)Net profit for the year – – 85,332 85,332Dividends (Note 26) – – (53,350) (53,350)

At 31 July 2000 665,191 39,039 174,804 879,034Exercise of ESOS 164 371 – 535Capital raising related expenses – (3,182) – (3,182)Share application monies 34 79 – 113Net profit for the year – – 72,399 72,399Dividends (Note 26) – – (45,774) (45,774)

At 31 July 2001 665,389 36,307 201,429 903,125

* Non-distributable** Distributable


CASH FLOW STATEMENT for the year ended 31 July 2001

79

2001 2000

RM’000 RM’000

Cash Flows from Operating Activities

Profit before taxation 96,938 114,871Adjustments for:

Attributable profits on construction contracts (102,942) (121,777)Depreciation 4,338 2,527Property, plant and equipment written off 45 150Net write back of provision for retirement benefits (5) –Gain on disposal of property, plant and equipment (690) (508)Interest income (7,568) (9,226)Dividend income (14,218) (4,573)Interest expense 14,628 5,645

Operating loss before working capital changes (9,474) (12,891)Inventories (87) (1,012)Receivables (213,507) 93,741Due from subsidiaries (126,761) (131,944)Net amount due from/(to) customers for construction contracts 118,337 132,012Payables (17,818) 4,929Due to subsidiaries 34,910 617

Cash (used in)/generated from operations (214,400) 85,452Income taxes paid (42,688) (11,986)Interest paid (17,587) (11,290)Retirement benefits paid – (144)

Net cash (used in)/generated from operating activities (274,675) 62,032

Cash Flows from Investing Activities

Purchase of other investments – (35)Purchases of property, plant and equipment (3,011) (7,166)Proceeds from sale of property, plant and equipment 956 1,464Investment in subsidiaries (111,600) (4,040)Investment in associated companies (19,465) (175,129)Interest received 7,284 9,197Dividend received 13,178 3,293

Net cash used in investing activities (112,658) (172,416)

CASH FLOW STATEMENT for the year ended 31 July 2001

80

2001 2000

RM’000 RM’000

Cash Flows from Financing Activities

Proceeds from conversion of warrants – 66,550Proceeds from ESOS and share application monies 648 100,721Dividend paid to shareholders (53,219) (44,450)Proceeds from issuance of bonds and warrants 400,000 –Capital raising related expenses (3,182) –Repayment of bonds – (75,000)

Net cash generated from financing activities 344,247 47,821

Net decrease in cash and cash equivalents (43,086) (62,563)Cash and cash equivalents at 1 August 2000/1999 101,928 164,491

Cash and cash equivalents at 31 July 58,842 101,928

Cash and cash equivalents comprise:

Cash and bank balances 556 1,738Fixed deposits 58,286 100,190

58,842 101,928


NOTES TO THE FINANCIAL STATEMENTS 31 July 2001

81

1 PRINCIPAL ACTIVITIES

The principal activities of the Company are that of investment holding and civil engineering construction.

The principal activities of the subsidiaries are described in Note 13.

There were no significant changes in these activities during the financial year except for the activities of the newsubsidiaries.

2 SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Accounting

The financial statements of the Group and the Company are prepared under the historical cost convention unlessotherwise indicated in the accounting policies below and comply with the provisions of the Companies Act, 1965 andapplicable approved accounting standards in Malaysia.

(b) Basis of Consolidation

The consolidated financial statements include the financial statements of the Company and all its subsidiaries made upto the end of the financial year. Subsidiaries are those companies which the Group has power to exercise control overthe financial and operating policies so as to obtain benefits therefrom. A joint venture is deemed to be a subsidiarywhen the Group has power to exercise control over the financial and operating policies so as to obtain benefitstherefrom. Companies acquired or disposed during the year are included in the consolidated financial statements fromthe date of acquisition to the date of disposal. Intragroup transactions are eliminated on consolidation and theconsolidated financial statements reflect external transactions only. Unrealised losses are eliminated on consolidationunless cost cannot be recovered.

The difference of the purchase price over the fair value of the net assets of subsidiaries at the date of acquisition isincluded in the consolidated balance sheet as goodwill or reserve arising on consolidation. Goodwill arising onconsolidation is amortised over its estimated useful economic life. Goodwill on consolidation is reviewed at eachbalance sheet date and will be written down for impairment where it is considered necessary.

(c) Currency Conversion and Translation

Transactions in foreign currencies are converted into Ringgit Malaysia at rates of exchange ruling at the transactiondates. Monetary assets and liabilities in foreign currencies at the balance sheet date are translated into Ringgit Malaysiaat rates of exchange ruling at that date.All exchange differences are taken to the income statements.

Financial statements of foreign consolidated subsidiaries are translated at year-end exchange rates with respect to thebalance sheet, and at exchange rates at the dates of the transactions with respect to income statement. All resultingtranslation differences are taken to reserves.

The principal exchange rates for every unit of foreign currency ruling at balance sheet date used are as follows:

2001 2000

RM RM

United States Dollar 3.80 3.80Singapore Dollar 2.08 2.19


82

2 SIGNIFICANT ACCOUNTING POLICIES (cont’d)(d) Property, Plant and Equipment and Depreciation

Property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulatedimpairment loss.

The carrying amounts of property, plant and equipment are reviewed at each balance sheet date to determinewhether there is any indication of impairment. If such an indication exists, the property, plant and equipment’srecoverable amount is estimated. An impairment loss is recognised whenever the carrying amount of an item ofproperty, plant and equipment exceeds its recoverable amount. The impairment loss is charged to the incomestatement unless it reverses a previous revaluation in which case it will be charged to equity.Any subsequent increasein recoverable amount is reduced by the amount that would have been recognised as depreciation had the write-offnot occurred.

Freehold land and construction in progress are not depreciated. Leasehold land is depreciated over the period of thelease.

Depreciation of other property, plant and equipment is provided on a straight line basis to write off the cost orvaluation of each property, plant and equipment to their residual value over their estimated useful lives at thefollowing annual rates:

Long term leasehold land Over a period of 60 yearsShort term leasehold land and buildings thereon Over periods of 30 to 50 yearsBuildings and improvements 2%Plant, machinery and office equipment 12% – 33%Furniture and fittings 10% – 15%Motor vehicles 12% – 25%

Freehold land, long term and short term leasehold land and buildings of the Group and the Company have not beenrevalued since they were first revalued in 1991.The directors have not adopted a policy of regular revaluation of suchassets. As permitted under the transitional provisions of Malaysian Accounting Standards Board (MASB) No 15:Property, Plant and Equipment, these assets continue to be stated at their 1991 valuation less accumulateddepreciation.

(e) Inventories

Inventories are stated at the lower of cost (determined on weighted average cost basis) and net realisable value. Costof finished goods and work-in-progress includes direct materials, direct labour and appropriate production overheads.

(f) Retirement Benefits

Contributions are made to the Company’s Retirement Benefit Scheme, a defined benefit plan.The cost of retirementbenefits under this Scheme is determined based on accrued benefit valuation method. Current service costs, pastservice costs and experience adjustments in respect of the Company’s Retirement Benefit Scheme are dealt withthrough the income statement systematically over the expected remaining service lives of members.

The Company has done its own computation to determine the provision needed in respect of the scheme and anactuarial valuation has not been carried out.The directors of the Company are of the opinion that the effect of suchprovision in the financial statements is not material and as such does not justify the cost of the engagement of anactuary.


83

2 SIGNIFICANT ACCOUNTING POLICIES (cont’d)(g) Revenue Recognition

(i) Revenue from construction contracts and sale of development properties are accounted for based on the“percentage of completion” method. The percentage of completion is determined by reference to the costsincurred to date to the total estimated costs where the outcome of the projects can be reliably estimated. Fullprovision is made for foreseeable losses.The percentage of completion is measured by reference to the certifiedwork done to date.

(ii) Revenue relating to sale of goods and services is recognised net of sales taxes and discounts when delivery hastaken place and transfer of risks and rewards have been completed.

(h) Receivables

Receivables are carried at anticipated realisable value. Bad debts are written off when identified. An estimate is madefor doubtful debts based on a review of all outstanding amounts at the financial year end.

(i) Amount Due From / To Customers For Construction Contract

Amount due from customers for construction contract is the net amount of costs incurred plus recognised profitsless the sum of recognised losses and progress billing for all contracts in progress which costs incurred plusrecognised profits (less recognised losses) exceeds progress billings.

Amount due to customers for construction contract is the net amount of costs incurred plus recognised profits lessthe sum of recognised losses and progress billings for all contracts in progress for which progress billings exceedscosts incurred plus recognised profits (less recognised losses).

Cost includes direct materials, labour, sub-contract sum and attributable overheads paid or payable to date.

(j) Deferred Taxation

Deferred taxation is provided under the liability method for all material timing differences except where there isreasonable evidence that these timing differences will not reverse in the foreseeable future.

(k) Investments

Investments in subsidiaries and other investments are stated at cost less provision for any permanent diminution invalue. On disposal of investment, the difference between net disposal proceeds and its carrying amount is charged orcredited to income statement.

(l) Development Properties

Land and development expenditure whereby significant development work has been undertaken and is expected to becompleted within the normal operating cycle are classified as development properties. Development properties arestated at cost plus profits less losses and applicable progress billings. Cost includes cost of land, all direct building costand other related development expenditure, including interest expenses incurred during the period of activedevelopment.

(m) Cash and Cash Equivalents

Cash and cash equivalents include cash in hand and at banks and deposits at call net of outstanding bank overdrafts.


84

2 SIGNIFICANT ACCOUNTING POLICIES (cont’d)(n) Investments in Associated Companies

The Group treats as associated companies those companies in which a long term equity interest of between 20 to 50percent is held and where it exercises significant influence over the financial and operating policies.

Investments in associated companies are accounted for in consolidated financial statements by the equity method ofaccounting based on management financial statements of the associated companies. Investments in redeemablepreferences shares in associated companies are stated at cost less provision for any permanent diminution in value.Unrealised gains on transactions between the Group and the associated companies are eliminated to the extent of theGroup’s interest in the associated companies; unrealised losses are eliminated unless cost cannot be recovered.

The Group’s share of post acquisition profits less losses of associated companies is included in the consolidatedincome statement and the Group’s interest in associated companies is stated at cost plus the Group’s share of post-acquisition retained profits and reserves. Goodwill arising from acquisition of associated companies is amortised overits estimated useful economic life, subject to annual reviews for permanent diminution in the carrying value.

(o) Concession Rights

Concession rights are attributable costs incurred which are related to arrangement whereby the Group is able toobtain economical benefits over future years.The concession rights is amortised over its estimated useful economiclife, subject to annual reviews for permanent diminution in the carrying value.

(p) Joint Ventures

This includes all joint ventures entered into by the Company that are treated as jointly controlled operations withpercentage of share of profits or losses of 70%.

The share of profits or losses of the joint ventures are incorporated in the Company financial statements based onthe percentage share of profit or losses of each joint venture.

3 DEPOSITSGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Deposits with licensed banks 335,767 131,384 57,136 64,370Deposits with discount houses 16,350 35,820 1,150 35,820

352,117 167,204 58,286 100,190


85

4 RECEIVABLESGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Trade receivables 380,276 109,645 313,961 86,419Retention sums 13,881 20,786 13,881 20,786Trade receivables due from associated companies 98,414 – – –Other receivables 43,819 44,693 19,860 40,367Dividends receivable 16,833 16,833 16,833 16,833

553,223 191,957 364,535 164,405Provision for doubtful debts (2,994) (3,722) (2,000) (2,000)

550,229 188,235 362,535 162,405

Included in trade receivables of the Group and the Company are amount due from joint ventures of RM349,788,000(2000: RM74,537,000) and RM312,235,000 (2000: RM74,537,000) respectively.

Included in other receivables of the Group and Company are amount due from an associated company of RM15,000,000(2000: RM14,700,000) in respect of subscription for redeemable preference shares.

5 DUE FROM SUBSIDIARIESIncluded in amount due from subsidiaries is amount due from an unincorporated joint venture subsidiary of RM38,945,000.The Company’s share in the unincorporated subsidiary’s assets and liabilities is as follows:

2001 2000

RM’000 RM’000

Current assets 262,360 –Non-current assets 231 –Current liabilities (231,137) –Non-current liabilities (24,500) –

Net assets 6,954 –Working capital injection 31,991 –

38,945 –

Included in the amount due from subsidiaries are advances given to a subsidiary together with accrued interest ofRM18,398,000 (2000: RM17,522,000) which are unsecured, bear interest at rate of 2.5% (2000: 2.5%) per annum and haveno fixed terms of repayment.

The remaining amounts due from subsidiaries are unsecured, interest free and have no fixed terms of repayment.


86

6 INVENTORIESGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

At cost:

Raw materials 273 1,486 – –Work-in-progress 1,601 336 – –Finished goods 845 4,335 –Crusher run and aggregates 805 – – –Consumable stores and spares 1,099 1,012 1,099 1,012

4,623 7,169 1,099 1,012

At net realisable value:

Raw materials 6,873 7,123 – –Work-in-progress – 1,055 – –Finished goods 4,115 – – –

10,988 8,178 – –

15,611 15,347 1,099 1,012

7 DEVELOPMENT PROPERTIESGroup

2001 2000

RM’000 RM’000

Freehold land, at cost 294,981 38,688Leasehold land, at cost 60,656 60,656Development expenditure 11,098 623Attributable profits 1,396 –

368,131 99,967Less:Progress billings received and receivable (5,815) –

362,316 99,967

Included in development expenditure incurred during the year are:

Depreciation 372 –Staff costs 944 –

The freehold land with carrying value of RM255,839,000 are pledged to a licensed bank for bank guarantee granted to asubsidiary in respect of remaining purchase consideration for the land acquired by the subsidiary as referred to in Note19(c).


87

8 AMOUNT DUE FROM/(TO) CUSTOMERS FOR CONSTRUCTION CONTRACTSGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Construction costs 2,966,698 2,669,226 2,310,277 2,412,056Recognised profits less recognised losses 252,827 222,040 199,834 214,472Progress billings received and receivable (3,228,072) (2,886,173) (2,542,232) (2,650,504)

(8,547) 5,093 (32,121) (23,976)Represented by:

Due from customers for construction contracts 73,530 35,336 2,376 3,009Due to customers for construction contracts (82,077) (30,243) (34,497) (26,985)

(8,547) 5,093 (32,121) (23,976)

Included in the amount due from/(to) customersfor construction contracts are:

Construction contract costs incurred during the year 1,147,406 560,348 544,619 513,997Construction contract costs recognised ascontract expenses during the year 604,544 419,098 241,921 456,632

Included in construction contract costs incurredduring the year are:

Depreciation 7,368 5,729 214 2,180Interest expense 7,036 7,036 7,036 5,645Staff costs 19,184 15,032 5,443 11,210Rental of equipment 19,954 14,610 1,250 8,205Rental of premises 66 – – –

9 BANK BORROWINGSGroup

2001 2000

RM’000 RM’000

Bank overdrafts 308 3,487Bankers acceptance 8,607 7,204

8,915 10,691

The bank borrowings are secured against certain assets of the Group and bear interest of between 3.90% to 8.30% (2000:3.95% to 8.50%) per annum.


88

10 PAYABLESGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Trade payables 227,946 47,814 15,547 24,371Other payables 86,833 45,394 29,851 34,768Due to an associated company 161,229 – – –

476,008 93,208 45,398 59,139

Included in trade payables of the Group and the Company are retention sums of RM40,285,000 (2000: RM7,612,000) andRM8,881,000 (2000: RM7,612,000) respectively.

Included in other payables of the Group is an amount due within twelve months of RM47,041,000 as referred to in Note19(c) in respect of remaining purchase considerations for the land acquired by its subsidiary.

The amount due to an associated company is in respect of advances for construction contract and the amount isunsecured, interest free and repayable through progress billings by the Group.

11 DUE TO SUBSIDIARIESThe amounts due to subsidiaries are unsecured, interest free and have no fixed terms of repayment.

12 OTHER INVESTMENTSGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

At costQuoted shares, in Malaysia 3,703 3,703 3 3Unquoted shares, in Malaysia 50 50 50 50Investment in transferable club memberships 665 665 665 665

4,418 4,418 718 718Provision for diminution in value of

investment in quoted shares, in Malaysia (978) (443) – –

3,440 3,975 718 718Market value

Quoted shares, in Malaysia 2,972 3,643 21 17


89

13 SUBSIDIARIESCompany

2001 2000

RM’000 RM’000

Unquoted shares, at cost 181,140 69,540

Details of the subsidiaries are as follows:

Effective Interests

Paid-up 2001 2000 Principal

Name of Company Capital % % Activities

Gammau Construction Sdn Bhd RM6,000,000 100 100 Civil engineering andearthwork construction

Gamuda Engineering Sdn Bhd RM770,000 100 100 Civil engineering andbuilding construction

Gamuda Paper Industries Sdn Bhd RM18,000,000 95 95 Manufacture and sale ofpaper and paper relatedproducts

Gamuda Trading Sdn Bhd RM109,000 100 100 Trading of constructionmaterial

Gamuda Overseas Investment Ltd US$100,000 100 100 Investment holding

Gamuda (India) Pte Ltd Rps.100,000 100 – Dormant

G.B. Kuari Sdn Bhd* RM750,000 100 70 Operation of quarry and road laying andmanufacture of premix

GPI Trading Sdn Bhd** RM2 95 95 Trading of paper and paperrelated products

GKTJV*** – 70 – Civil engineeringconstruction

Ganaz Bina Sdn Bhd RM3,000,000 100 100 Civil engineeringconstruction

GIT Services Sdn Bhd RM100,000 100 100 Information technologyservices and trading

Harum Intisari Sdn Bhd RM5,350,000 100 – Property development

Masterpave Sdn Bhd RM2,500,000 100 100 Manufacture, supply andlaying of road surfacingmaterials


90

13 SUBSIDIARIES (cont’d)Effective Interests

Paid-up 2001 2000 Principal

Name of Company Capital % % Activities

Megah Sewa Sdn Bhd RM100,002 100 100 Hire and rental of plant andmachinery

Megah Capital Sdn Bhd RM2 100 100 Investment holding andtrading

Megah Management Services Sdn Bhd RM50,000 100 100 Insurance agent

Reka Strategi Sdn Bhd RM2 100 100 Dormant

Gamuda Water Sdn Bhd RM2,000,000 80 – Operation and maintenance(formerly known as The Sweet Water of water treatment plantsManagement Sdn Bhd)****

Valencia Development Sdn Bhd RM300,000 80 80 Property development

* 100% held by Ganaz Bina Sdn Bhd

** 100% held by Gamuda Paper Industries Sdn Bhd

*** GKTJV is an unincorporated joint venture formed by Gamuda Berhad, Kumpulan Darul Ehsan Berhad and The SweetWater Alliance Sdn Bhd under a contractual agreement. Pursuant to the Malaysian Accounting Standards Board,Standard No. 16, Financial Reporting of Interests in Joint Ventures, GKTJV is deemed to be the subsidiary of GamudaBerhad by virtue of its power to govern the financial and operating policies of the economic activity of GKTJV.

**** Gamuda Water Sdn Bhd (“GWSB”) is deemed to be a subsidiary of Gamuda Berhad by virtue of the substance thatthe Sale and Purchase Agreement between Gamuda Berhad and the vendor was concluded as at 31 July 2001.

All the subsidiaries are incorporated in Malaysia except for the following:

Name of Company Country of incorporation

Gamuda Overseas Investment Ltd British Virgin IslandsGamuda (India) Pte Ltd India

Acquisition of subsidiary:

The effective date of acquisition for the 80% equity interest in GWSB was on 31 July 2001 for a cash consideration ofRM71,600,000. Hence, there is no effect of the acquisition on the financial results of the Group for the year ended 31 July2001.


91

13 SUBSIDIARIES (cont’d)The fair value of the assets acquired and liabilities assumed from the acquisition of the subsidiary was as follows:

31 July 2001

RM’000

Net assets acquired:Trade and other receivables 220Cash and bank balances 1,784Trade and other payables (4)

2,000Minority interests (400)

1,600Concession rights 70,000

Purchase consideration 71,600Less: Cash and cash equivalents of subsidiary acquired (1,784)

Net cash used for acquisition of subsidiary 69,816

14 ASSOCIATED COMPANIESGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Unquoted shares, at cost 122,685 89,685 122,685 89,685Redeemable Preference Shares 306,425 306,425 306,425 306,425Group’s share of profits, net of dividends receivable 185,601 134,925 – –

614,711 531,035 429,110 396,110

Represented by:

Share of net assets 570,769 484,780Goodwill net of amortisation 43,942 46,255

614,711 531,035

Quoted shares, at cost 179,020 177,855 179,020 177,855

Group’s share of profits, net of dividends receivable 85,513 52,594 – –

264,533 230,449 179,020 177,855

Represented by:

Share of net assets 264,533 230,449

879,244 761,484 608,130 573,965

Market value:Quoted shares, in Malaysia 726,821 578,803 726,821 578,803


92

14 ASSOCIATED COMPANIES (cont’d)Kesas Holdings Bhd and Lingkaran Trans Kota Holdings Berhad adopted the accounting policy to capitalise interestincurred on borrowings for the construction of the Expressway already in use. The continued capitalisation of interestincurred for the construction of the Expressway already in use and deferral of post-construction interest represents adeparture from the provisions of International Accounting Standard (IAS) 23, Capitalisation of Borrowing Costs. Had theprovisions of IAS23 been complied with, the income statements and retained profits of the Group will be as follows:

2001 2000

Group RM’000 RM’000

Income Statements:

Net profit for the year as reported 191,708 146,815Share of net interest capitalised during the year written off (35,054) (38,404)

Net profit for the year as adjusted 156,654 108,411

Retained profits:

Retained profits carried forward as reported 514,319 368,385Share of interest equalisation account written off (140,477) (103,795)

Retained profits carried forward as adjusted 373,842 264,590

The associated companies, all of which are incorporated in Malaysia, are as follows:

Effective Interests

Paid-up Capital 2001 2000 Principal

Name of Company RM % % Activities

Dyna Plastics Sdn Bhd 44,907,552 44 44 Manufacturing and sale ofPolymer Lithium ionbatteries and relatedaccessories

Gabungan Cekap Sdn Bhd 160,000,000 30 30 Investment holding

Hicom-Gamuda Development Sdn Bhd 6,053,004 50 50 Property development

Kesas Holdings Bhd 470,914,840 30 30 Investment holding

Lingkaran Trans Kota Holdings Berhad* 452,731,000 41 41 Investment holding andprovision of managementservices

Madang Permai Sdn Bhd 5,000,000 36 36 Concession holder of anExpressway

Sistem Penyuraian Trafik KL Barat 9,055,000 42 30 Investment holdingHoldings Sdn Bhd

Sussen (Malaysia) Sdn Bhd 600,000 50 50 Manufacturing and trading ofbitumen emulsion products

* Quoted shares in Malaysia


93

15 PROPERTY, PLANT AND EQUIPMENTOther

property

Land and Construction- plant and

buildings * in-progress equipment ** Total

Group RM’000 RM’000 RM’000 RM’000

Valuation/Cost

At 1 August 2000 44,349 26,066 157,749 228,164Additions – 341 14,134 14,475Disposals – – (7,658) (7,658)Write off – – (839) (839)

At 31 July 2001 44,349 26,407 163,386 234,142

Accumulated Depreciation

At 1 August 2000 5,866 – 97,293 103,159Charge for the year 745 – 16,166 16,911Disposals – – (6,725) (6,725)Write off – – (159) (159)

At 31 July 2001 6,611 – 106,575 113,186

Net Book Value

At 31 July 2001 37,738 26,407 56,811 120,956

At 31 July 2000 38,483 26,066 60,456 125,005

Depreciation charge for 2000 687 – 15,452 16,139

* Land and buildings

At Valuation Cost

Freehold Long term Short term Short term Freehold

land and leasehold land leasehold leasehold land and

buildings and buildings land buildings buildings Total

Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Valuation/Cost

At 1 August 2000 1,192 3,171 14,313 187 25,486 44,349Additions – – – – – –Reclassifications 448 (1,148) – – 700 –

At 31 July 2001 1,640 2,023 14,313 187 26,186 44,349


94

15 PROPERTY, PLANT AND EQUIPMENT (cont’d)At Valuation Cost

Freehold Long term Short term Short term Freehold

land and leasehold land leasehold leasehold land and

buildings and buildings land buildings buildings Total

Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000


At 1 August 2000 – 522 4,256 58 1,030 5,866Reclassifications 172 (232) – – 60 –Charge for the year – 51 472 6 216 745

At 31 July 2001 172 341 4,728 64 1,306 6,611

Net Book Value

At 31 July 2001 1,468 1,682 9,585 123 24,880 37,738

At 31 July 2000 1,192 2,649 10,057 129 24,456 38,483

Depreciation charge for 2000 – 60 469 10 148 687

** Other property, plant and equipment

At Cost

Office, Plant,

equipment, machinery

Motor furniture and

vehicles and fittings equipment Total

Group RM’000 RM’000 RM’000 RM’000

At Cost

At 1 August 2000 36,072 13,479 108,198 157,749Additions 2,569 2,891 8,674 14,134Disposals (2,319) (112) (5,227) (7,658)Write off (49) (85) (705) (839)

At 31 July 2001 36,273 16,173 110,940 163,386


At 1 August 2000 19,270 9,816 68,207 97,293Charge for the year 4,137 2,237 9,792 16,166Disposals (1,755) (92) (4,878) (6,725)Write off (25) (73) (61) (159)

At 31 July 2001 21,627 11,888 73,060 106,575


95

15 PROPERTY, PLANT AND EQUIPMENT (cont’d)** Other property, plant and equipment

At Cost

Office, Plant,


Motor furniture and

vehicles and fittings equipment Total

Group RM’000 RM’000 RM’000 RM’000

Net Book Value

At 31 July 2001 14,646 4,285 37,880 56,811

At 31 July 2000 16,802 3,663 39,991 60,456

Depreciation charge for 2000 4,083 1,715 9,654 15,452

At Valuation Cost

Other

property,

Land and Construction- plant and

buildings ^ in-progress equipment ^^ Total

Company RM’000 RM’000 RM’000 RM’000

Valuation/Cost

At 1 August 2000 20,970 26,066 36,106 83,142Additions – 341 2,604 2,945Transfer in – – 66 66Reclassifications 4,335 (4,505) 170 –Transfer out – – (157) (157)Disposals – – (1,741) (1,741)Write off – – (156) (156)

At 31 July 2001 25,305 21,902 36,892 84,099


At 1 August 2000 872 – 20,926 21,798Charge for the year 167 – 4,385 4,552Transfer out – – (112) (112)Disposals – – (1,520) (1,520)Write off – – (111) (111)

At 31 July 2001 1,039 – 23,568 24,607

Net Book Value

At 31 July 2001 24,266 21,902 13,324 59,492

At 31 July 2000 20,098 26,066 15,180 61,344

Depreciation charge for 2000 108 – 4,599 4,707


96

15 PROPERTY, PLANT AND EQUIPMENT (cont’d)^ Land and buildings

At Valuation Cost

Freehold Long term Freeholdland and leasehold land land andbuildings and buildings building Total

Company RM’000 RM’000 RM’000 RM’000

Valuation/Cost

At 1 August 2000 780 2,623 17,567 20,970Reclassifications 860 (860) 4,335 4,335

At 31 July 2001 1,640 1,763 21,902 25,305


At 1 August 2000 – 424 448 872Reclassifications 172 (172) – –Charge for the year – 49 118 167

At 31 July 2001 172 301 566 1,039

Net Book Value

At 31 July 2001 1,468 1,462 21,336 24,266

At 31 July 2000 780 2,199 17,119 20,098

Depreciation charge for 2000 – 49 59 108

^^ Other property, plant and equipmentOffice Plant,

equipment, machineryMotor furniture and and

vehicles fittings equipment TotalCompany RM’000 RM’000 RM’000 RM’000

Cost

At 1 August 2000 22,714 9,599 3,793 36,106Additions 1,644 960 – 2,604Transfer in 66 – – 66Reclassification – 170 – 170Transfer out (103) (19) (35) (157)Disposals (1,694) (47) – (1,741)Write off (49) (82) (25) (156)

At 31 July 2001 22,578 10,581 3,733 36,892


At 1 August 2000 10,634 7,357 2,935 20,926Charge for the year 3,127 1,009 249 4,385Transfer out (67) (15) (30) (112)Disposals (1,478) (42) – (1,520)Write off (25) (73) (13) (111)

At 31 July 2001 12,191 8,236 3,141 23,568


97

15 PROPERTY, PLANT AND EQUIPMENT (cont’d)^^ Other property, plant and equipment

Office Plant,


Motor furniture and and

vehicles fittings equipment Total

Cost RM’000 RM’000 RM’000 RM’000

Net Book Value

At 31 July 2001 10,387 2,345 592 13,324

At 31 July 2000 12,080 2,242 858 15,180

Depreciation charge for 2000 2,980 1,285 334 4,599

(a) Details of independent professional valuation of land and buildings owned by the Group at 31 July 2001 are as follows:

Long term and short term leasehold land and buildings

Year of Description of Amount Basis of Leasesvaluation property RM’000 valuation expiring in

1991 Long term leasehold land and building at 260 Open 2078Jalan Gopeng, Ipoh market value

1991 Long term leasehold land and building at 753 Open 2050Jelapang, Ipoh market value

1991 Long term leasehold land and building at 462 Open 2043Jelapang, Ipoh market value

1991 Short term leasehold land and building at 14,500 Open 2022Kampar, District of Kinta market value

Freehold land and buildings

Year of Description of Amount Basis ofvaluation property RM’000 valuation

1991 Freehold land and building at 1,240 OpenPetaling Jaya market value

1991 Freehold land and building at 400 OpenPetaling Jaya market value

(b) Certain property, plant and equipment of the Group with net book value of RM7,183,000 (2000: RM7,260,000) havebeen pledged to a financial institution for credit facilities granted to the Group.

(c) Included in property, plant and equipment of the Group and the Company are fully depreciated property, plant andequipment which are still in use costing RM39,300,000 (2000: RM36,728,000) and RM10,639,000 (2000:RM13,925,000) respectively.


98

15 PROPERTY, PLANT AND EQUIPMENT (cont’d)(d) Had the revalued property, plant and equipment been carried at historical cost less accumulated depreciation, the net

book value of each class of property, plant and equipment that would have been included in the financial statements ofthe Group and the Company are as follows:

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Freehold land 15,009 15,020 14,572 14,572Long term leasehold land 353 365 – –Buildings 2,487 2,547 2,487 2,547

16 NET GOODWILL ARISING ON CONSOLIDATIONGroup

2001 2000

RM’000 RM’000

Goodwill arising on consolidation (a) 5,448 7,444Reserve arising on consolidation (b) (1,787) (1,787)

3,661 5,657Cumulative amortisation of goodwill (2,415) (2,233)Cumulative recognition of reserve 1,787 1,787

3,033 5,211

(a) The goodwill arising on consolidation is attributable to the acquisition of Ganaz Bina Sdn Bhd Group which comprisedGanaz Bina Sdn Bhd and its subsidiary, G.B. Kuari Sdn Bhd.The goodwill is amortised over a period of 30 years in linewith the lease period of the quarry which is the principal asset of the Ganaz Bina Sdn Bhd Group. Acquisition ofadditional interest in G.B. Kuari Sdn Bhd during the year resulted in a reserve on consolidation of RM1,996,000 whichis netted off with the existing goodwill.

(b) The reserve arising on consolidation is attributable to the acquisition of Gammau Construction Sdn Bhd.The reserveis amortised to the income statements over a period of 8 years based on the approximate average economic usefullife of major fixed assets acquired.

17 CONCESSION RIGHTSGroup

2001 2000

RM’000 RM’000

Concession rights 70,000 –

The concession rights is attributable to the acquisition of a subsidiary, Gamuda Water Sdn Bhd (formerly known as TheSweet Water Management Sdn Bhd).The subsidiary was granted the rights to operate and maintain the water treatmentplants of Sungai Selangor Water Supply Scheme Phase 3 for a period of 30 years.The concession rights will be amortisedon a systematic basis on commencement of related operations on each phase over the remaining concession period.


99

18 SHARE CAPITALGroup and Company

Number of Ordinary

Shares of RM1 each Amount

2001 2000 2001 2000

’000 ’000 RM’000 RM’000

Authorised:At 1 August 2000/1999 1,000,000 1,000,000 1,000,000 1,000,000Created during the year 1,000,000 – 1,000,000 –

At 31 July 2,000,000 1,000,000 2,000,000 1,000,000

Issued and fully paid:At 1 August 2000/1999 665,191 295,804 665,191 295,804Conversion of warrants – 19,023 – 19,023Exercise of ESOS 164 28,150 164 28,150One for one bonus – 322,214 – 322,214

665,355 665,191 665,355 665,191

Share application monies 34 –

At 31 July 665,389 665,191

(a) The issued and paid-up share capital was increased via issuance of 164,000 new ordinary shares of RM1.00 eachpursuant to the exercise of Employees’ Share Option Scheme.

The new shares issued rank pari passu in all respects with the existing ordinary shares of the Company.

(b) The principal features of the ESOS are as follows:

(i) Eligible persons are full-time monthly paid employees and Executive Directors of the Group (including contractand non-Malaysian employees with a minimum three years of contract of service) whose employment has beenconfirmed and have been in the employment of the Group for a continuous period of at least one year as at thedate of offer.The selection of eligible person for participation in the ESOS shall be at the discretion of the OptionCommittee.

(ii) The ESOS shall be in force for a period of 5 years from 26 December 2000 subject however to any extension orrenewal for a further period of not exceeding 5 years commencing from the day after the date of expiration ofthe original 5 years period as may be approved by all relevant parties.

(iii) The total number of shares to be offered shall not exceed 10% of the issued and paid-up share capital of theCompany at any point of time during the duration of the ESOS.

(iv) The subscription price under the ESOS shall be the weighted average market price of the shares as shown in theDaily Official List issued by the Kuala Lumpur Stock Exchange for the 5 market days immediately preceding thedate of offer of the options subject to a discount of not more than ten per cent (10%), or at par value of theshare, whichever is higher.

(v) The aggregate number of shares to be offered to an eligible employee in accordance with the ESOS shall bedetermined at the discretion of the Option Committee after taking into consideration, amongst other factors, theposition, performance, seniority and the length of service that the eligible employee has rendered and subject tothe maximum allowable allotment of shares for each eligible employee.


100

18 SHARE CAPITAL (cont’d)(vi) The number of shares under the ESOS remaining unexercised or the option price or both may be adjusted

following any alteration in the capital structure of the Company during the option period, whether such alterationis by way of capitalisation of profits or reserves, right issues, consolidation of shares, sub-division of shares orreduction of capital or otherwise howsoever taking place, made by the Company.

(vii) The options shall not carry any right to vote at any general meeting of the Company and a grantee shall not beentitled to any dividends, right or other entitlements on his unexercised options.

(viii) The options granted under the ESOS are not assignable.

(ix) The new shares allotted upon any exercise of the option shall rank pari passu in all respects with the thenexisting issued and paid-up ordinary shares of the Company except that the new shares so issued will not rankfor any dividends, rights, allotments and/or other distributions, the entitlement date (namely the date as at theclose of business on which shareholders must be registered in order to be entitled to any dividends, rights,allotments or other distributions) of which is prior to the date of allotment of the new shares.

(c) In the financial year ended 31 July 1997, the Company issued 38,351,903 Warrants 1996/2006 as described in Note19(a)(i) to the financial statements. As at the balance sheet date, the total number of Warrants 1996/2006 whichremain unexercised amounted to 76,650,642 (2000: 76,650,642) units after adjustment for the one for one bonusissue in the previous financial year.

(d) During the financial year, the Company issued 166,297,668 Warrants 2001/2007 as described in Note 19(a)(ii) to thefinancial statements.As at the balance sheet date, the total number of Warrants 2001/2007 which remain unexercisedamounted to 166,297,668 (2000: Nil) units.

19 LONG TERM LIABILITIESGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Bonds (a) 400,000 115,000 400,000 115,000Deferred taxation (b) 9,575 7,986 6,272 6,272Long term payable (c) 94,083 – – –Provision for retirement benefits (d) 5,065 4,777 3,991 3,996

508,723 127,763 410,263 125,268

Group and Company

2001 2000

RM’000 RM’000

(a) Bonds

Nominal amount of 4% Redeemable Unsecured Bonds 1996/2001 115,000 115,000Nominal amount of 3% Redeemable Unsecured Bonds 2000/2007 400,000 –

515,000 115,000Amount due within 12 months (115,000) –

400,000 115,000


101

19 LONG TERM LIABILITIES (cont’d)The principal features of the bonds are as follows:

(i) The RM115,000,000 nominal amount of 4% Redeemable Unsecured Bonds 1996/2001 were issued with 38,351,903detachable warrants to a primary subscriber and subsequently resold to the shareholders on the basis of one warrantfor every three existing ordinary shares held at an offer price of 58.4 sen per warrant. Each warrant entitles theregistered holder to subscribe for one new share in the Company at any time on or before the expiry date at the endof five years following the date of issue on 30 December 1996. In 1999, the subscription period was extended for afurther period of five years from 29 December 2001 to 29 December 2006. Each warrant 1996/2006 carries theentitlement to subscribe for one new ordinary share of RM1.00 each in the Company at an exercise price of RM4.21,which are subject to adjustment in accordance with the provision in the Deed Poll.

The bonds were issued at 100% of the nominal amount and carry a fixed coupon rate of 4% per annum payableannually in arrears.At the end of its tenure, the bonds will be redeemed at 100% nominal value together with interestaccrued to the date of maturity on 29 December 2001.

(ii) The RM400,000,000 nominal amount of 3% Redeemable Unsecured Bonds 2000/2007 were issued with 166,297,668detachable warrants to a primary subscriber and subsequently resold to the shareholders on the basis of one warrantfor every four existing ordinary shares held at an offer price of 61.0 sen per warrant. Each warrant entitles theregistered holder to subscribe for one new share in the Company at any time on or before the expiry date at the endof six and half years following the date of issue on 22 February 2001 at an exercise price of RM3.75 per share.Theexercise price is subject to adjustments from time to time in accordance with the conditions set out in the Deed Pollcreated on 22 February 2001.

The bonds were issued at 100% of the nominal amount and carry a fixed coupon rate of 3% per annum payable semiannually in arrears.At the end of its tenure, the bonds will be redeemed at 100% nominal value together with interestaccrued to the date of maturity on 28 September 2007.

(b) Deferred taxationGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

At 1 August 2000/1999 7,986 8,136 6,272 6,272Transfer from/(to) income statement (Note 25) 1,589 (150) – –

At 31 July 9,575 7,986 6,272 6,272

Deferred taxation amounting to RM3,965,000 on the revaluation of certain land and buildings is not provided for inthe financial statements as it is not the intention of the directors to dispose the properties.


102

19 LONG TERM LIABILITIES (cont’d)(c) Long term payable is in respect of obligation due to a third party for the acquisition of land held for development,

referred to in Note 7.The obligation is payable in accordance with the terms and conditions of the sale and purchaseagreement as follows:

Group and Company

RM’000 RM’000

Long term payable 141,124 –Due within 12 months (Note 10) (47,041) –

Due after 12 months 94,083 –

Repayable:

Within one year 47,041 –Between one and two years 47,041 –Between two and five years 47,042 –

141,124 –

(d) The provision for retirement benefits is non-funded and is determined based on the schedule of benefits stipulated inthe Group’s policies and agreements.

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

At 1 August 2000/1999 4,777 4,683 3,996 3,996Net provision/(charge for the year) (Note 23) 288 94 (5) –

At 31 July 5,065 4,777 3,991 3,996

20 REVENUERevenue of the Group and the Company consist of the following:

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Engineering and construction 751,369 577,397 344,776 577,397Quarry sales 29,815 32,740 – –Property development 5,924 – – –Paper sales 25,442 24,132 – –Trading of construction materials 18,339 1,531 – –Others 394 1,688 – –

831,283 637,488 344,776 577,397


103

21 OTHER OPERATING INCOMEIncluded in other operating income are:

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Management fees received from a subsidiary – – 450 475Dividends received/receivable from

– subsidiaries – – 1,250 2,225– investment in an associated company (quoted) – – 12,968 2,348

Gain on sale of property, plant and equipment 799 875 690 508Bad debts recovered 300 347 – –Unrealised gain on foreign exchange – 17 – –Rental income

– subsidiary – – 289 271– others 117 72 96 24

22 STAFF COSTSIncluded in staff costs are:

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Directors’ remuneration* 4,176 3,437 3,934 3,198Net provision/(write back) for retirement benefits 288 94 (5) –

* Directors’ remuneration

Directors of the Company:

Executive:

Salaries and other emoluments 4,065 3,332 3,823 3,093Benefits-in-kind 363 238 342 234

4,428 3,570 4,165 3,327

Non-Executive:

Fees 111 105 111 105Benefits-in-kind 31 17 31 17

142 122 142 122

Total 4,570 3,692 4,307 3,449

Total excluding benefits-in-kind 4,176 3,437 3,934 3,198


104

22 STAFF COSTS (cont’d)The number of directors of the Company whose total remuneration during the year fall within the following bands are:

No. of directors

2001 2000

Executive directors:

RM200,001 – RM250,000 – 1RM250,001 – RM300,000 1 –RM300,001 – RM350,000 – –RM350,001 – RM400,000 – –RM400,001 – RM450,000 – 4RM450,001 – RM500,000 4 –RM500,001 – RM550,000 4 1RM550,001 – RM600,000 – 2RM650,001 – RM700,000 1 –

10 8Non-Executive directors:

RM1 – RM50,000 2 2RM50,001 – RM100,000 – –RM100,001 – RM150,000 1 1

3 3

Total 13 11


105

23 OTHER OPERATING EXPENSESIncluded in other operating expenses are:

Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Auditors’ remuneration 190 170 55 53Amortisation of goodwill on consolidation:

– Subsidiaries 182 248 – –– Associated company 2,313 – – –

Provision for doubtful debts 138 263 – –Inventories written off 172 37 – –Unrealised loss on foreign exchange 20 – – –Hire of plant and equipment 5,962 13,109 1,250 8,205Rental expense of premises 1,496 1,401 530 816Net provision/(write back) for retirement benefits 288 94 (5) –Provision/(write back) for diminution in value ofinvestment in quoted shares in Malaysia 535 (57) – –

Fixed assets written off 680 747 45 150

24 FINANCE COSTSFinance costs comprise interest expense.

25 TAXATIONGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Current year’s provision 41,626 35,179 23,107 30,095Transfer to/(from) deferred taxation (Note 19(b)) 1,589 (150) – –Taxation under/(over) provided in previous years 1,290 (323) 1,432 (556)

44,505 34,706 24,539 29,539

The effective tax rate of the Group is higher than the statutory tax rate principally due to losses of certain subsidiarieswhich cannot be set off against profits made by other companies in the Group as there is no tax relief for the Group.

The effective tax rate of the Company is lower than the statutory tax rate principally due to tax exempt dividendsreceived from its subsidiaries. As at 31 July 2001, the Company has tax exempt profit available for distribution ofapproximately RM9,000 (2000: RM53,228,000) subject to agreement with the Inland Revenue Board.

The Company has sufficient tax credit under Section 108 of the Income Tax Act, 1967 to frank the payment of dividend outof its entire retained profits as at 31 July 2001.


106

26 DIVIDENDSGroup and Company

Amount Dividend per share

2001 2000 2001 2000

RM’000 RM’000 Sen Sen

Interim dividend paid of 4% tax exempted(2000: 4% tax exempted) 26,611 26,012 4 4

Proposed final dividend of 4% less taxation(2000: 4% tax exempted) 19,163 26,608 3 4

Underprovision of prior year’s proposed final dividend – 730 – –

45,774 53,350

27 EARNINGS PER SHAREThe basic earnings per share is calculated by dividing the Group’s profit after taxation and minority interests ofRM191,708,000 (2000: RM146,815,000) by the weighted average number of shares in issue during the year of 665,240,000(2000: 639,494,000).

The fully diluted earnings per share has been calculated based on the adjusted Group’s profit after taxation and minorityinterests of RM191,708,000 (2000: RM146,815,000) and on the shares of 679,413,000 (2000: 665,567,000) that are in issueor issuable during the financial year.

Weighted Average

Net profit Number of Shares Earnings Per Share

(RM’000) (in thousands) (sen)

2001 2000 2001 2000 2001 2000

Net profit for the year 191,708 146,815 665,240 639,494

Basic earnings per share 29 23

Assumed exercise of ESOS – – 4,628 –Assumed exercise of warrants – – 9,545 26,073

191,708 146,815 679,413 665,567

Diluted earnings per share 28 22

For the financial year ended 31 July 2001, Warrants 2001/2007 had been excluded from the computation of fully dilutedearnings as the effect of such conversion in the earnings would be anti dilutive.

The comparative fully diluted earnings per share has been restated to reflect the method of computation used in currentfinancial year which is in accordance with Malaysian Accounting Standards Board Standard 13: Earnings Per Share.


107

28 CAPITAL COMMITMENTSGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Approved and contracted for 151,160 1,044 93 515

Included in the capital commitments is an amount of RM150,499,000 relating to the purchase of land by the Company’ssubsidiary, Harum Intisari Sdn Bhd.

29 CONTINGENT LIABILITIES (UNSECURED)Group Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Indemnities and guarantees given to trade suppliers forcredit facilities granted to a subsidiary company – – 1,037 –

Performance and retention sum guarantees 266,157 302,899 268,113 302,899

266,157 302,899 269,150 302,899

30 SIGNIFICANT RELATED PARTY TRANSACTIONSGroup Company

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Contract services rendered to Lingkaran Trans KotaHoldings Berhad, an associated company (1,587) (32,100) (1,587) (32,100)

Contract services rendered to Sistem PenyuraianTrafik KL Barat Holdings Sdn Bhd,an associated company (163,064) (479,371) (163,064) (479,371)

Contract services rendered to Syarikat PengeluarAir Sungai Selangor Sdn Bhd, an associated company (133,560) – – –

Contract services rendered by Sepakat Setia PerundingSdn Bhd, a company in which a director,Tan Sri Dato’ Ir Talha bin Haji Mohd Hashimhas interest 1,764 560 – –

Contract services rendered by subsidiaries – – 302,807 76,955Gross dividends receivable from subsidiaries – – (1,550) (2,435)Interest payable to subsidiaries – – 67 82Management fees receivable from subsidiaries – – (450) (475)Rental received from subsidiary – – (337) (22)Interest receivable from subsidiaries – – (439) (459)Transfer of fixed assets from subsidiaries – – 66 84Transfer of fixed assets to subsidiaries – – 45 221

The directors are of the opinion that the transactions have been entered into in the normal course of business and havebeen established on a negotiated basis which are not materially different from that obtainable in transactions withunrelated parties.


108

31 SIGNIFICANT EVENSDuring the financial year,

(a) the Company subscribed for the followings in Harum Intisari Sdn Bhd:

(i) 5,000,000 ordinary shares of RM1 each representing 100% of the issued and paid-up share capital for a total cashconsideration of RM5,000,000; and

(ii) 350,000 Redeemable Preference Shares at a premium of RM99 each for a total cash consideration ofRM35,000,000 for part of the consideration to acquire the pieces of land as disclosed in (c) below.

(b) the Company acquired additional 33,000,000 ordinary shares of RM1 each in Gabungan Cekap Sdn Bhd (“GCSB”) fora total cash consideration of RM33,000,000 for the purpose of maintaining its effective interest of 30% in GCSB.

(c) the Company’s subsidiary, Harum Intisari Sdn Bhd had entered into a conditional contract to acquire the followingpieces of land for a total consideration of RM388,830,453:

(i) Three parcels of freehold land measuring approximately 572 acres, together with buildings constructed thereonand structures affixed thereto, held under Geran 41193 Lot No. 72084, Geran 33009 Lot No. 122 and Geran6631 Lot No. 3377 in the Mukim and District of Klang, Selangor Darul Ehsan; and

(ii) Two parcels of freehold land measuring approximately 669 acres, together with buildings constructed thereon andstructures affixed thereto, held under Geran 24138 Lot No. 31, Geran 43531 Lot No. 72086 in the Mukim andDistrict of Klang, Selangor Darul Ehsan.

(d) the Company’s subsidiary, Ganaz Bina Sdn Bhd acquired additional 30% interest in G.B. Kuari Sdn Bhd for a totalconsideration of RM18,400,000 resulting in G.B. Kuari Sdn Bhd becoming a wholly owned subsidiary of Ganaz BinaSdn Bhd

(e) the Company has issued renounceable rights issue of up to 166,297,668 new warrants at an issue price of RM0.61 pernew warrant on the basis of one new warrant for every four existing ordinary shares. The exercise price of thewarrants has been fixed at RM3.75.

(f) the Company issued a seven year 3% Redeemable Unsecured Bonds at a nominal value of RM400,000,000.

(g) the Company entered into supplementary agreement dated 15 January 2001 with the intention to subscribe foradditional 135,000 preference shares of RM1.00 each for RM100 per share amounting to RM13.5 million in SistemPenyuraian Trafik KL Barat Holdings Sdn Bhd in preparation for commencement of Western Kuala Lumpur TrafficDispersal Scheme Package C.

(h) the Company acquired 1,600,000 ordinary shares of RM1 each representing 80% of the issued and paid-up sharecapital of Gamuda Water Sdn Bhd (formerly known as The Sweet Water Management Sdn Bhd) for a total cashconsideration of RM71,600,000.

(i) the Company increased its authorised share capital from RM1,000,000,000 comprising 1,000,000,000 ordinary sharesof RM1.00 each to RM2,000,000,000 comprising 2,000,000,000 ordinary shares of RM1.00 each.

(j) the issued and paid-up share capital of the Company was increased from RM665,190,672 to RM665,354,672 via theissuance of 164,000 new ordinary shares of RM1.00 each pursuant to the exercise of Employees’ Share OptionScheme. (154,000 and 10,000 new ordinary shares at prices of RM3.25 and RM3.45 respectively). The new sharesissued rank pari passu in all respect with the existing ordinary shares of the Company.


109

32 SUBSEQUENT EVENT(a) On 6 August 2001, the Sales and Purchase Agreement between the Company and the vendor for the acquisition of

80% equity interest in Gamuda Water Sdn Bhd (formerly known as The Sweet Water Management Sdn Bhd) wascompleted.

(b) On 26 September 2001, the National Highways Authority of India has accepted the joint bid by the Company andWCT Engineering Berhad to design, finance, construct, operate and maintain a highway project at KM 517 to KM581.457, Panagarh-Palsit Section in the State of West Bengal. The project is estimated to cost Rps. 5.0 Billion(approximately RM420 million).

33 SEGMENTAL ANALYSISProfit

before Total assets

Revenue taxation employed

RM’000 RM’000 RM’000

Analysis by activity:

2001

The Company and its subsidiaries:

Engineering and construction 751,369 125,646 946,323Manufacturing, quarrying and others 73,990 18,712 167,373Property development 5,924 (96) 370,199Water supply – (219) 75,084

831,283 144,043 1,558,979

Associated companies:

Expressways 64,688 559,025Water supply 41,708 83,339Property development 26,955 168,127Manufacturing and others (1,359) 68,753

131,992 879,244

Total 831,283 276,035 2,438,223


110

33 SEGMENTAL ANALYSIS (cont’d)Profit

before Total assets

Revenue taxation employed

RM’000 RM’000 RM’000

Analysis by activity:

2000

The Company and its subsidiaries:

Engineering and construction 577,397 109,898 372,387Manufacturing, quarrying and others 60,091 16,783 168,411Property development – – 103,356

637,488 126,681 644,154

Associated companies:

Expressways 53,963 514,486Water supply 8,476 21,044Property development 17,247 155,844Manufacturing and others (305) 70,110

79,381 761,484

Total 637,488 206,062 1,405,638

The activities of the Group are principally carried out in Malaysia.

The directors are of the opinion that all inter-segment transactions have been entered into in the normal course ofbusiness and have been established on terms and conditions that are not materially different from that obtainable intransactions with unrelated parties.

34 COMPARATIVE FIGURESCertain comparative figures have been reclassified to conform with the current year’s presentation.

35 CURRENCYAll amounts are stated in Ringgit Malaysia unless otherwise stated.

LIST OF MAJOR PROPERTIES HELD as at 31 July 2001

111

Approximate

Year of Net book age of

Location Tenure Area Description expiry value building

No. 36/38, Jalan SS21/62 Freehold 1,078 sq m 2 blocks, 4 storey – 1,110,000 1347400 Petaling Jaya, shoplot/officeSelangor

No. 30, Jalan SS2/44 Freehold 501 sq m Bungalow/staff quarters – 358,000 2147300 Petaling Jaya,Selangor

No. 39, Jalan SS22/23 Freehold 499 sq m 4 storey shoplot/ – 613,400 1347400 Petaling Jaya, officeSelangor

No. 55-61, Jalan SS22/23 Freehold 1,996 sq m 4 blocks, 4 storey – 904,908 1647400 Petaling Jaya, shoplot/office 904,908Selangor 1,272,703

1,053,472

Lot 6, Jalan U1/17, Freehold 3.527 acres Industrial estate/ – 7,183,034 11Seksyen U1 factory/office40000 Shah Alam,Selangor

No. 152, Jalan Gopeng Leasehold 164 sq m 3 storey shoplot/ 2078 212,350 2131350 Ipoh, Perak office

No. 158, Jalan Gopeng Leasehold 163 sq m 3 storey shoplot/ 2078 237,000 2131350 Ipoh, Perak office

PT 51683, Jalan Jelapang Leasehold 4,353 sq m Industrial estate/ 2043 487,855 1730020 Ipoh, Perak workshop

PT 183485 Leasehold 12,144 sq m Industrial estate/ 2050 762,261 11Meru Industrial Estate storeJelapang, 30020 Ipoh,Perak

Lot 195821, 195822, Leasehold 45 hectares Granite hill, limestone 2022 10,187,175 –195823, 195824, 195825, hill and industrial195826, 195827, 46482, land/quarry57417 all in theMukim KamparDistrict of Kinta,31350, Ipoh, Perak

HS (D) 54871, Freehold 16,898 sq ft Industrial estate/ – 8,097,391 –PT No. 56274 workshopMukim & District of KelangSelangor

HS (D) 52621, Freehold 42,217 sq ft Commercial land – 9,104,000 –PT No. 53932Mukim & District of KelangSelangor

OTHER INFORMATION

112

NON-AUDIT FEE PAID TO EXTERNAL AUDITORSThe Company and its subsidiaries did not pay any non-audit fee to Arthur Andersen & Co (external auditors), for the financialyear ended 31 July 2001.

REVALUATION POLICY ON LANDED PROPERTIESThe Group does not adopt a policy of regular revaluation.

SHARE BUY-BACKThe Company did not purchase any of its own shares during the financial year ended 31 July 2001.

EMPLOYEES' SHARE OPTIONS AND WARRANTSSave for the exercise of options pursuant to the Employees' Share Option Scheme, the amount of which is disclosed in Note 18of the Financial Statements, there were no other exercises of options or any exercise of warrants during the financial yearended 31 July 2001.

MATERIAL CONTRACTS INVOLVING DIRECTORS AND MAJOR SHAREHOLDERSOther than as disclosed in Note 30 of the Financial Statements, there were no material contracts entered into by the Companyand its subsidiaries, involving Directors and major shareholders.

SANCTIONS AND/OR PENALTIES IMPOSEDSince the end of the previous financial year, there is no sanction and/or penalty imposed on the Company and its subsidiaries,Directors or management by the relevant regulatory bodies.

AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL DEPOSITORY RECEIPT (GDR) PROGRAMMEThe Company does not sponsor any ADR or GDR programme.

STATUS OF BOND UTILISATIONThe following is the utilisation of the 3% Redeemable Unsecured Bonds 2000/2007 bond proceeds as at 31 July 2001:

AmountDetail activities Approved Utilised

RM'000 RM'000

Repayment of borrowings 115,000 –Land acquisition 60,000 60,000Working capital 70,700 70,700Expenses of Bond Issue 4,300 4,300Investment in Gabungan Cekap Sdn Bhd 150,000 48,000(Holding company of Splash)

Total 400,000 183,000

ANALYSIS OF SHAREHOLDINGS as at 26 November 2001

113

Authorised Capital : RM2,000,000,000.00Issued and Fully Paid : RM665,928,672.00Class of Shares : Ordinary shares of RM1.00 eachVoting Rights : 1 vote per shareholder on a show of hands

1 vote per ordinary share on a pollNo. of Shareholders : 12,624

No. of No. of

Size of shareholdings shareholders ordinary shares %

1 – 999 330 53,989 0.011,000 – 10,000 10,428 28,397,870 4.2610,001 – 100,000 1,341 44,402,610 6.67100,001 – 33,296,433 522 417,115,819 62.6433,296,434 and above 3 175,958,384 26.42

Total 12,624 665,928,672 100.00

SUBSTANTIAL SHAREHOLDERSAs shown in the Register of Substantial Shareholders

No. of shares in which No. of shares in which

substantial substantial shareholders

shareholders have are deemed to have

Name of substantial shareholder direct interest an interest %

Generasi Setia (M) Sdn Bhd 92,486,928 (a) – 13.89Raja Dato’ Seri Eleena Azlan Shah – 92,486,928 (b) 13.89Dato’ Lin Yun Ling 56,848,818 (c) – 8.54Employees Provident Fund Board 55,189,250 (d) – 8.29

(a) Include shares held through a nominee company.(b) Deemed interested through Generasi Setia (M) Sdn Bhd.(c) Include shares held through a nominee company.(d) Include shares held through nominee companies.

ANALYSIS OF SHARE/WARRANT HOLDINGS as at 26 November 2001

114

DIRECTORS’ INTERESTSAs shown in the Register of Directors’ Shareholdings

Other than disclosed below, there is no other Director of the Company who has interest, direct or deemed, in the Companyand its related corporations.

In the CompanyName of Director Direct % Deemed %

No. of ordinary sharesTan Sri Dato’ Ir Talha bin Haji Mohd Hashim 525,828 0.08 – –Dato’ Lin Yun Ling 56,848,818^ 8.54 – –Raja Dato’ Seri Eleena Azlan Shah – – 92,486,928* 13.89Dato’ Ir Kamarul Zaman bin Mohd Ali 1,188,000 0.18 – –Ng Kee Leen 14,516,114# 2.18 – –Goon Heng Wah 11,471,158@ 1.72 – –Ha Tiing Tai 13,207,938 1.98 – –Saw Wah Theng 100,000∞ 0.02 – –Azmi Mat Nor 10,000 0.00 – –Chow Chee Wah 2,000 0.00 – –

^ Include ordinary shares held through a nominee company.* Deemed interested through Generasi Setia (M) Sdn Bhd.

Include ordinary shares held by Generasi Setia (M) Sdn Bhd through a nominee company.# Include ordinary shares held through a nominee company.@ Include ordinary shares held through nominee companies.∞ Held through a nominee company.

No. of Warrant 1996/2006Dato’ Lin Yun Ling 8,053,442^^ 10.51 – –Raja Dato’ Seri Eleena Azlan Shah – – 13,724,000** 17.90Dato’ Ir Kamarul Zaman bin Mohd Ali 172,000 0.22 – –Ng Kee Leen 2,288,000 2.98 – –Goon Heng Wah 1,788,158 2.33 – –Ha Tiing Tai 1,704,000 2.22 – –

^^ Include Warrant 1996/2006 held through a nominee company.** Deemed interested through Generasi Setia (M) Sdn Bhd.

No. of Warrant 2001/2007Dato’ Lin Yun Ling 12,240,551 7.36 – –Raja Dato’ Seri Eleena Azlan Shah – – 23,122,000*** 13.90Dato’ Ir Kamarul Zaman bin Mohd Ali 331,500 0.20 – –Ng Kee Leen 4,308,335 2.59 – –Goon Heng Wah 2,996,000 1.80 – –Ha Tiing Tai 3,477,000 2.09 – –Saw Wah Theng 96,000 0.06 – –

*** Deemed interested through Generasi Setia (M) Sdn Bhd.Include Warrant 2001/2007 held by Generasi Setia (M) Sdn Bhd through a nominee company.


115

DIRECTORS’ INTERESTS (cont’d)As shown in the Register of Directors’ Shareholdings

Employees’ Share Option Scheme

No. of option

Option price shares

Name of Director RM ‘000

Dato’ Lin Yun Ling 3.25 500Dato’ Ir Kamarul Zaman bin Mohd Ali 3.25 500Ng Kee Leen 3.25 500Goon Heng Wah 3.25 500Ha Tiing Tai 3.25 500Saw Wah Theng 3.25 500Chow Chee Wah 3.25 450

TOP 30 SHAREHOLDERSAccording to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. Shareholder’s name Shareholding %

1 Generasi Setia (M) Sdn Bhd 82,986,928 12.462 Dato’ Lin Yun Ling 48,962,206 7.353 Employees Provident Fund Board 44,009,250 6.614 Ha Tiing Tai 12,707,938 1.915 Ng Kee Leen 11,136,114 1.676 Malaysia Nominees (Tempatan) Sendirian Berhad 10,609,000 1.59

– Great Eastern Life Assurance (Malaysia) Berhad (MLF)7 Sukma Sinaran Sdn Bhd 10,102,000 1.528 PAB Nominee (Tempatan) Sdn Bhd 9,500,000 1.43

– Pledged Securities Account for Generasi Setia (M) Sdn Bhd9 EB Nominees (Tempatan) Sendirian Berhad 8,138,300 1.22

– Pledged Securities Account for Heng Teng Kuang10 Citicorp Nominees (Asing) Sdn Bhd 7,811,250 1.17

– CBHK PBGSGP for Keyport Limited11 EB Nominees (Tempatan) Sendirian Berhad 7,402,052 1.11

– Pledged Securities Account for Shang Yong @ Chung Koon Yee12 Goon Heng Wah 7,071,158 1.0613 Amanah Raya Nominees (Tempatan) Sdn Bhd 6,264,000 0.94

– Amanah Saham Malaysia14 EB Nominees (Tempatan) Sendirian Berhad 6,000,000 0.90

– Pledged Securities Account for Chan Yong Foo @ Chan Kuan Nam15 Amanah Raya Nominees (Tempatan) Sdn Bhd 5,777,000 0.87

– Kuala Lumpur Growth Fund16 Raja Nazrin Shah 5,300,000 0.8017 Khazanah Nasional Berhad 4,840,000 0.7318 Nik Anida Binti Nik Manshor 4,671,000 0.7019 HLG Nominee (Tempatan) Sdn Bhd 4,586,000 0.69

– PB Trustee Services Berhad for HLB Growth Fund


116

TOP 30 SHAREHOLDERS (cont’d)According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. Shareholder’s name Shareholding %

20 Cartaban Nominees (Asing) Sdn Bhd 4,006,000 0.60– SSBT Fund P001 for Morgan Stanley Dean Witter Investment

Management Emerging Markets Trust21 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 3,704,000 0.56

– Arab-Malaysian Trustee Bhd for BHLB Pacific Dana Al-Ihsan22 Chan Yong Foo @ Chan Kuan Nam 3,484,462 0.5223 Lembaga Tabung Haji 3,400,000 0.5124 Mayban Nominees (Tempatan) Sdn Bhd 3,344,850 0.50

– Pledged Securities Account for Shang Yong @ Chung Koon Yee25 Amanah Raya Nominees (Tempatan) Sdn Bhd 3,298,000 0.50

– Kuala Lumpur Savings Fund26 Mayban Nominees (Tempatan) Sdn Bhd 3,240,000 0.49

– Pledged Securities Account for Heng Teng Kuang27 HSBC Nominees (Asing) Sdn Bhd 3,209,000 0.48

– Stichting Pensioenfonds ABP28 DB (Malaysia) Nominee (Asing) Sdn Bhd 3,200,000 0.48

– DBSPN for Prudential Assurance Company Singapore (Pte) Limited (Prulink Fund)29 Malaysia Nominees (Tempatan) Sendirian Berhad 3,175,000 0.48

– Great Eastern Life Assurance (Malaysia) Berhad (MLF2)30 Mayban Nominees (Tempatan) Sdn Bhd 3,127,000 0.47

– Mayban Trustees Berhad for Kuala Lumpur Regular Savings Fund

Total 335,062,508 50.32

ANALYSIS OF WARRANT HOLDINGS as at 26 November 2001

117

WARRANT 1996/2006 HOLDINGSNo. of Warrants Unexercised : 76,650,642Exercise Period : 30/12/1996 – 29/12/2006Exercise Rights : Each Warrant entitles the holder to subscribe for one (1) new ordinary share

of RM1.00 in the Company at any time during the Exercise Period.

No. of Warrant No. of Warrant

1996/2006 1996/2006

Size of holdings holders held %

1 – 999 107 25,948 0.031,000 – 10,000 2,483 7,727,958 10.0810,001 – 100,000 345 9,405,626 12.27100,001 – 3,832,532 51 30,368,368 39.633,832,533 and above 4 29,122,742 37.99

Total 2,990 76,650,642 100.00

TOP 30 WARRANT 1996/2006 HOLDERSAccording to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. of Warrant

No. Warrant 1996/2006 holder’s name 1996/2006 held %

1 Generasi Setia (M) Sdn Bhd 13,724,000 17.902 Dato’ Lin Yun Ling 6,453,410 8.423 Malaysia National Insurance Berhad 4,988,000 6.514 Chan Yong Foo @ Chan Kuan Nam 3,957,332 5.165 Heng Teng Kuang 3,553,076 4.646 Shang Yong @ Chung Koon Yee 2,500,320 3.267 Ng Kee Leen 2,288,000 2.988 Universal Trustee (Malaysia) Berhad 1,975,000 2.58

– SBB Premium Capital Fund9 Goon Heng Wah 1,788,158 2.3310 Ha Tiing Tai 1,704,000 2.2211 Citicorp Nominees (Asing) Sdn Bhd 1,574,832 2.05

– CBHK PBGSGP for Keyport Limited12 Takaful Nasional Sdn Berhad 1,244,000 1.6213 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,148,000 1.50

– Arab Malaysian Trustee Bhd for HLB Penny Stock Fund (5/4-3)14 HDM Nominees (Tempatan) Sdn Bhd 1,110,000 1.45

– HDM Venture Capital Sdn Bhd for Tiang Ming Sing15 RHB Nominees (Tempatan) Sdn Bhd 963,056 1.26

– Pledged Securities Account for Chan Kok Wah16 Leong Mun Meng 833,000 1.0917 Southern Nominees (Tempatan) Sdn Bhd 602,000 0.79

– Southern Bank Berhad18 Lee Muk Siong 580,000 0.7619 Universal Trustee (Malaysia) Berhad 487,388 0.64

– BHLB Pacific Emerging Companies Growth Fund20 Citicorp Nominees (Asing) Sdn Bhd 457,666 0.60

– CBHK PBGSGP for Su Zhou Investments Ltd21 Omega Nominees (Tempatan) Sdn Bhd

– Pledged Securities Account for Tan Kai Ann @ T Teck Chuan 420,000 0.55


118

TOP 30 WARRANT 1996/2006 HOLDERS (cont’d)According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. of Warrant


22 Wong Kok Hou 416,000 0.5423 BHLB Trustee Berhad 400,000 0.52

– TA Comet Fund24 BHLB Trustee Berhad 373,000 0.49

– TA Balanced Fund25 Amanah Raya Berhad 342,000 0.45

– Dana Al-Aiman26 Hong Chin Chai 300,000 0.3927 Lim Thin Peng 294,000 0.3828 Lim Thin Peng 282,000 0.3729 Ong Boon Kheng 281,998 0.3730 Mayban Nominees (Tempatan) Sdn Bhd 250,000 0.33

– Mayban Trustees Berhad for Amanah Saham PAB

Total 55,290,236 72.15

WARRANT 2001/2007 HOLDINGSNo. of Warrants Issued : 166,297,668Exercise Period : 22/2/2001 – 21/8/2007Exercise Rights : Each Warrant entitles the holder to subscribe for one (1) new ordinary share

of RM1.00 in the Company at any time during the Exercise Period.

No. of Warrant No. of Warrant

2001/2007 2001/2007

Size of holdings holders held %

1 – 999 475 200,629 0.121,000 – 10,000 5,391 13,973,949 8.4010,001 – 100,000 735 23,545,253 14.16100,001 – 8,314,883 150 82,201,224 49.438,314,884 and above 3 46,376,613 27.89

Total 6,754 166,297,668 100.00

TOP 30 WARRANT 2001/2007 HOLDERSAccording to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. of Warrant


1 Generasi Setia (M) Sdn Bhd 20,747,000 12.482 Employees Provident Fund Board 13,389,062 8.053 Dato’ Lin Yun Ling 12,240,551 7.364 Malaysia Nominees (Tempatan) Sendirian Berhad 3,637,000 2.19

– Great Eastern Life Assurance (Malaysia) Berhad (MLF)5 Chan Yong Foo @ Chan Kuan Nam 3,564,000 2.146 Ha Tiing Tai 3,177,000 1.91


119

TOP 30 WARRANT 2001/2007 HOLDERS (cont’d)According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person)

No. of Warrant


7 Citicorp Nominees (Asing) Sdn Bhd 2,952,812 1.78– CBHK PBGSGP for Keyport Limited

8 Ng Kee Leen 2,835,000 1.709 Sukma Sinaran Sdn Bhd 2,661,000 1.6010 EB Nominees (Tempatan) Sendirian Berhad 2,535,000 1.52

– Pledged Securities Account for Heng Teng Kuang11 PAB Nominee (Tempatan) Sdn Bhd 2,375,000 1.43

– Pledged Securities Account for Generasi Setia (M) Sdn Bhd12 EB Nominees (Tempatan) Sendirian Berhad 1,852,000 1.11

– Pledged Securities Account for Shang Yong @ Chung Koon Yee13 Goon Heng Wah 1,703,000 1.0214 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,637,000 0.98


– Mayban Trustees Berhad for Phileo Equityextra Fund16 Arab-Malaysian Finance Berhad 1,400,000 0.84

– Pledged Securities Account for Ng Leong Huat17 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,396,000 0.84

– Kuala Lumpur Equity Fund18 Mayban Nominees (Tempatan) Sdn Bhd 1,377,000 0.83

– Mayban Trustees Berhad for Kuala Lumpur Aggressive Growth Fund19 Goon Heng Wah 1,293,000 0.7820 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,288,000 0.77

– Kuala Lumpur Growth Fund21 EB Nominees (Tempatan) Sendirian Berhad 1,250,000 0.75

– Pledged Securities Account for Chan Kok Wah22 Ng Kee Leen 1,238,335 0.7423 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,159,999 0.70

– Arab-Malaysian Trustee Bhd for HLB Penny Stock Fund (5/4-3)24 HDM Nominees (Asing) Sdn Bhd 1,156,000 0.70

– DBS Vickers Secs (S) Pte Ltd for Mak Wai Nam25 CIMB Securities Sdn Bhd 1,060,000 0.64

– IVT for Company 626 Malaysia Nominees (Tempatan) Sendirian Berhad 1,049,000 0.63

– Great Eastern Life Assurance (Malaysia) Berhad (MLF2)27 HSBC Nominees (Asing) Sdn Bhd 864,000 0.52

– HSBCIT HK for JF Malaysia Fund28 HSBC Nominees (Asing) Sdn Bhd 864,000 0.52

– BNY Brussels for JF Asean Fund29 Mayban Nominees (Tempatan) Sdn Bhd 837,000 0.50

– Pledged Securities Account for Shang Yong @ Chung Koon Yee30 Mayban Nominees (Tempatan) Sdn Bhd 816,000 0.49

– Mayban Trustees Berhad for Kuala Lumpur Regular Savings Fund

Total 93,820,259 56.40

121PENYATA KEWANGAN

122 Laporan Para Pengarah

129 Penyata Para Pengarah/Akuan Berkanun

130 Laporan Juruaudit

131 Lembaran Imbangan Disatukan

132 Penyata Pendapatan Disatukan

133 Penyata Perubahan dalam Ekuiti Disatukan

134 Penyata Aliran Tunai Disatukan

136 Lembaran Imbangan

137 Penyata Pendapatan

138 Penyata Perubahan dalam Ekuiti

139 Penyata Aliran Tunai

141 Nota-Nota kepada Penyata Kewangan

LAPORAN PARA PENGARAH

122

Para Pengarah dengan ini membentangkan laporan mereka dan penyata kewangan Kumpulan dan Syarikat yang telah diaudit bagitahun kewangan berakhir 31 Julai 2001.

KEGIATAN UTAMAKegiatan utama Syarikat adalah pegangan pelaburan dan pembinaan kejuruteraan awam.

Kegiatan-kegiatan utama syarikat-syarikat subsidiari telah dihuraikan dalam Nota 13 kepada penyata kewangan.

Tiada sebarang perubahan penting dalam kegiatan-kegiatan utama ini di sepanjang tahun kewangan selain daripada kegiatan-kegiatan syarikat-syarikat subsidiari baru.

KEPUTUSANKumpulan Syarikat

RM’000 RM’000

Keuntungan selepas cukai 196,185 72,399Kepentingan minoriti (4,477) –

Keuntungan bersih milik para pemegang syer 191,708 72,399

DIVIDENJumlah dividen yang telah dibayar atau disyorkan oleh Syarikat sejak 31 Julai 2000 adalah seperti berikut:

RM’000

Bagi tahun kewangan berakhir 31 Julai 2000

Dividen akhir sebanyak 4% dikecualikan cukai dibayar pada 5 Februari 2001 26,608

Bagi tahun kewangan berakhir 31 Julai 2001

Dividen interim sebanyak 4% dikecualikan cukai dibayar pada 19 April 2001 26,611

Para pengarah mengisytiharkan dividen akhir sebanyak 4% selepas cukai 28% berjumlah RM19,163,000 bagi tahun kewangansemasa.

RIZAB DAN PERUNTUKANTiada pindahan yang penting kepada atau daripada rizab atau peruntukan di sepanjang tahun kewangan ini selain dari yangdinyatakan di dalam penyata perubahan dalam ekuiti.

HUTANG LAPUK DAN HUTANG RAGUSebelum penyata pendapatan dan lembaran imbangan disediakan, para pengarah telah mengambil langkah-langkah yangsewajarnya untuk memastikan bahawa tindakan telah diambil berkaitan dengan menghapuskirakan hutang lapuk dan dalammembuat peruntukan bagi hutang ragu dan berpuashati bahawa kesemua hutang yang diketahui lapuk telah dihapuskira danperuntukan yang mencukupi telah dibuat bagi hutang ragu.

Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang kejadian yang memerlukan hutang lapukdihapuskirakan atau jumlah yang diperuntukkan bagi hutang ragu Kumpulan dan Syarikat tidak mencukupi hingga ke peringkatyang menjejaskan.


123

ASET SEMASASebelum penyata pendapatan dan lembaran imbangan disediakan, para pengarah telah mengambil langkah-langkah yangsewajarnya untuk memastikan bahawa aset semasa yang mungkin tidak dapat dijual dalam urusniaga biasa pada nilai yangditunjukkan di dalam rekod-rekod perakaunan Kumpulan dan Syarikat, telah dikurangkan kepada nilai yang dianggap bolehdiperolehi.

Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang mungkin menyebabkan nilai aset semasadi dalam penyata kewangan Kumpulan dan Syarikat mengelirukan.

KAEDAH PENILAIANPada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang timbul yang boleh menjadikan kepatuhankepada kaedah penilaian yang sedia ada bagi penilaian aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak sesuai.

LIABILITI LUARJANGKA DAN LAIN-LAIN LIABILITIPada tarikh laporan ini, tidak wujud:(a) sebarang tindihmilik ke atas aset Kumpulan atau Syarikat yang timbul sejak akhir tahun kewangan yang menjamin liabiliti

pihak lain; atau

(b) sebarang liabiliti luarjangka Kumpulan atau Syarikat yang timbul sejak akhir tahun kewangan.

Tiada liabiliti luarjangka atau lain-lain liabiliti yang telah berkuatkuasa atau berkemungkinan dikuatkuasakan dalam tempoh duabelas bulan dari akhir tahun kewangan ini yang pada pendapat para pengarah, akan atau mungkin menjejaskan secara berkesankeupayaan Kumpulan atau Syarikat untuk menunaikan kewajipan mereka apabila tiba masanya kelak.

PERUBAHAN KEADAANPada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang tidak dinyatakan di dalam laporan iniatau penyata kewangan Kumpulan atau Syarikat yang akan menyebabkan mana-mana jumlah yang dinyatakan di dalam penyatakewangan mengelirukan.

BUTIRAN YANG BERSIFAT LUARBIASAPara pengarah berpendapat bahawa keputusan Kumpulan dan Syarikat di sepanjang tahun kewangan tidak dipengaruhi secaraberkesan oleh sebarang butiran, urusniaga atau kejadian yang bersifat penting dan luarbiasa.

Di dalam jangkamasa di antara akhir tahun kewangan dan tarikh laporan ini, tidak timbul sebarang butiran, urusniaga ataukejadian yang bersifat penting dan luarbiasa yang, pada pendapat para pengarah, akan mempengaruhi secara berkesan ke ataskeputusan Kumpulan atau Syarikat bagi tahun kewangan di mana laporan ini disediakan.

PERISTIWA-PERISTIWA PENTINGPeristiwa-peristiwa penting di sepanjang tahun kewangan ini adalah dinyatakan dalam Nota 31 kepada penyata kewangan.

PERISTIWA SUSULANPeristiwa-peristiwa susulan di sepanjang tahun kewangan ini adalah dinyatakan dalam Nota 32 kepada penyata kewangan.

124

WARANWaran 1996/2001 adalah dibentuk oleh Surat Ikatan Cabutan bertarikh 23 Disember 1996 yang dilaksanakan oleh Syarikatuntuk pemegang-pemegang Waran 1996/2001. Pada tahun 1999, jangkamasa langganan telah dilanjutkan selama lima tahunbermula 29 Disember 2001 ke 29 Disember 2006.

Waran 1996/2006 boleh dilaksanakan pada bila-bila masa pada dan selepas 30 Disember1996 sehingga 29 Disember 2006. SetiapWaran 1996/2006 membolehkan pemegang waran untuk melanggan satu syer biasa baru Syarikat bernilai RM1.00 setiap satupada harga perlaksanaan RM4.21 setiap satu tertakluk kepada perubahan mengikut syarat yang terkandung di dalam Surat IkatanCabutan. Waran-waran 1996/2006 yang tidak dilaksanakan pada tarikh matang, akan kehilangan haknya dan menjadi tidak sahuntuk apa-apa kegunaan.

Syer-syer yang diterbitkan daripada perlaksanaan Waran 1996/2006 mempunyai taraf yang sama dalam semua hal dengan syerbiasa Syarikat kecuali pemegang-pemegang syer tersebut tidak akan layak untuk sebarang hak, dividen atau pengagihan yang lainmelainkan perlaksanaan Waran 1996/2006 tersebut telah dijalankan sebelum tarikh tutup buku daftar-daftar syer untukpenentuan kelayakan pada hak-hak dan pengagihan tersebut.

Pada tarikh lembaran imbangan,Waran 1996/2006 yang masih belum dilaksanakan berjumlah 76,650,642 unit.

Waran 2001/2007 adalah dilaksanakan menurut penerbitan terbitan hak yang boleh dilepaskan sebanyak 166,297,668 waranbaru di sepanjang tahun kewangan.

Waran 2001/2007 adalah dibentuk oleh Surat Ikatan Cabutan bertarikh 27 November 2000 yang dilaksanakan oleh Syarikatuntuk pemegang-pemegang Waran 2001/2007.

Waran 2001/2007 boleh dilaksanakan pada bila-bila masa pada dan selepas 22 Februari 2001 hingga 21 Ogos 2007. Setiap Waran2001/2007 membolehkan pemegang waran untuk melanggan satu syer biasa baru Syarikat bernilai RM1.00 setiap satu pada hargaperlaksanaan RM3.75 setiap satu tertakluk kepada perubahan mengikut syarat yang terkandung di dalam Surat Ikatan Cabutan.Waran 2001/2007 yang tidak dilaksanakan pada tarikh matang, akan kehilangan haknya dan menjadi tidak sah untuk apa-apakegunaan.

Syer-syer yang diterbitkan daripada perlaksanaan Waran 2001/2007 mempunyai taraf yang sama dalam semua hal dengan syerbiasa Syarikat kecuali pemegang-pemegang hak tersebut tidak akan layak untuk sebarang hak, dividen atau pengagihan yang lainmelainkan perlaksanaan Waran 2001/2007 tersebut telah dijalankan sebelum tarikh tutup buku daftar-daftar syer untukpenentuan kelayakan pada hak-hak dan pengagihan tersebut.

Pada tarikh lembaran imbangan,Waran 2001/2007 yang masih belum dilaksanakan berjumlah 166,297,668 unit.

Pada tarikh laporan ini, tiada Waran 1996/2006 dan Waran 2001/2007 telah ditukar ke syer-syer biasa selepas akhir tahunkewangan.

SKIM OPSYEN SYER PEKERJA (“SOSP”)Skim Opsyen Syer Pekerja (“SOSP”) Kedua bagi Gamuda Berhad telah diluluskan oleh para pemegang syer semasa MesyuaratAgung Luarbiasa pada 31 Oktober 2000 dan berkuatkuasa pada 26 Disember 2000 selepas pengesahan muktamad diperolehidaripada Suruhanjaya Sekuriti. Menurut SOSP itu, opysen untuk melanggan sebanyak 28,205,000 syer biasa baru Syarikat bernilaiRM1.00 setiap satu telah diberikan kepada pekerja-pekerja yang layak.

Ciri-ciri utama SOSP ini adalah dinyatakan dalam Nota 18(b) kepada penyata kewangan.



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SKIM OPSYEN SYER PEKERJA (“SOSP”) (samb)Perubahan dalam opsyen dan harga perlaksanaan opsyen adalah seperti berikut:

Dilaksanakan

Baki belum mula

diterbitkan 1 Ogos 2001

pada hingga tarikh

Harga opsyen Diberikan Ditarik balik* Diterima Dilaksanakan 31 Julai 2001 laporan ini

RM3.25 20,532,000 658,000 19,874,000 154,000 19,720,000 351,000RM3.45 7,673,000 – 7,673,000 10,000 7,663,000 94,000

* Disebabkan oleh perletakan jawatan dan tawaran tidak diterima.

MODAL SYERDi sepanjang tahun kewangan Syarikat telah menambahkan

(a) modal syer dibenarkan daripada RM1 bilion ke RM2 bilion menerusi terbitan 1 bilion syer bias bernilai RM2 bilion menerusiterbitan 1 bilion syer bias bernilai RM1.00 setiap satu; dan

(b) modal syer diterbitkan dan dibayar daripada RM665,191,000 ke RM665,355,000 menerusi terbitan 164,000 syer biasa barubernilai RM1.00 setiap satu berkaitan perlaksanaan SOSP.

PARA PENGARAH Para pengarah yang bertugas sejak tarikh laporan terakhir ialah:

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd HashimY Bhg Dato’ Lin Yun LingY A M Raja Dato’ Seri Eleena Azlan ShahNg Kee LeenGoon Heng WahY Bhg Dato’ Kamarul Zaman bin Mohd AliHa Tiing TaiWong Chin YenSaw Wah Theng Azmi Mat Nor (dilantik sebagai pengarah silih ganti kepada Heng Teng Kuang pada 22 Disember

2000, berhenti sebagai pengarah silih ganti kepada Heng Teng Kuang pada 1 Ogos2001 dan dilantik sebagai pengarah pada 24 September 2001)

Chow Chee Wah (dilantik sebagai pengarah silih ganti kepada Chan Kuan Nam @ Chan Yong Foopada 22 Disember 2000 berhenti sebagai pengarah silih ganti kepada Chan KuanNam @ Chan Yong Foo pada 1 Ogos 2001 dan dilantik sebagai pengarah silih gantikepada Y Bhg Dato’ Lin Yun Ling pada 24 September 2001)

Y Bhg Datuk Ab Rahman bin Omar (dilantik pada 22 Oktober 2001)Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi (dilantik pada 22 Oktober 2001)Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim (dilantik pada 22 Oktober 2001)Chan Kuan Nam @ Chan Yong Foo (meletak jawatan pada 1 Ogos 2001)Heng Teng Kuang (meletak jawatan pada 1 Ogos 2001)

Menurut Tataurusan Pertubuhan Syarikat,Y A M Raja Dato’ Seri Eleena Azlan Shah, Ng Kee Leen, Saw Wah Theng,Azmi Mat Nor,Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim,Tan Sri Dato’ Mohd Ramli bin Kushairi dan Y Bhg Datuk Ab Rahman bin Omarbersara menurut giliran pada Mesyuarat Agung Tahunan yang akan datang dan, oleh kerana layak, menawarkan diri mereka untukdilantik semula.


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PARA PENGARAH (samb)Y Bhg Dato’ Lin Yun Ling bersara pada Mesyuarat Agung Tahunan yang akan datang menurut Kehendak Penyenaraian BursaSaham Kuala Lumpur dan, oleh kerana layak, menawarkan dirinya untuk dilantik semula.

Ahli Jawatankuasa Audit, Penamaan dan Ganjaran adalah seperti berikut:

Ahli Jawatankuasa AuditY M Raja Dato’ Seri Abdul Aziz bin Raja Salim (Pengerusi)Y Bhg Tan Sri Dato’ Mohd Ramli bin KushairiNg Kee LeenWong Chin Yen

Ahli Jawatankuasa PenamaanY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim (Pengerusi)Y Bhg Tan Sri Dato’ Mohd Ramli bin KushairiWong Chin Yen

Ahli Jawatankuasa GanjaranY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim (Pengerusi)Y Bhg Dato’ Lin Yun LingY M Raja Dato’ Seri Abdul Aziz bin Raja Salim

MANFAAT PARA PENGARAHDi sepanjang dan pada akhir tahun kewangan, Syarikat tidak menjadi pihak kepada sebarang persetujuan yang matlamatnya adalahuntuk membolehkan para pengarah Syarikat mendapat manfaat melalui perolehan syer atau debentur Syarikat atau sebarangbadan korporat, selain daripada opsyen syer yang diberikan menurut SOSP Syarikat.

Sejak akhir tahun kewangan yang lepas, tiada pengarah telah menerima atau berhak menerima manfaat (selain daripada manfaatyang termasuk dalam jumlah ganjaran diterima atau akan diterima oleh para pengarah yang dinyatakan dalam Nota 22 kepadapenyata kewangan atau gaji tetap bagi pekerja sepenuh masa Syarikat) akibat dari sebarang kontrak yang dibuat oleh Syarikatatau syarikat berkaitan dengan pengarah atau dengan firma di mana ia adalah ahli, atau dengan syarikat di mana ia mempunyaikepentingan kewangan yang besar.

KEPENTINGAN PARA PENGARAHMenurut daftar pegangan syer para pengarah, kepentingan para pengarah yang memegang jawatan pada akhir tahun kewangan didalam syer-syer waran dan opsyen Syarikat dan syarikat-syarikat berkaitan sepanjang tahun kewangan adalah seperti berikut:

Bilangan Syer Biasa RM1 Setiap Satu

1 Ogos 2000/ 31 Julai

tarikh perlantikan Jual 2001

Gamuda Berhad

Pegangan Langsung Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim 825,828 – 825,828Y Bhg Dato’ Lin Yun Ling 56,848,818 – 56,848,818Ng Kee Leen 14,516,114 – 14,516,114Goon Heng Wah 11,471,158 – 11,471,158Y Bhg Dato’ Kamarul Zaman bin Mohd Ali 1,498,000 280,000 1,218,000Ha Tiing Tai 13,447,938 240,000 13,207,938Saw Wah Theng 540,000 440,000 100,000Azmi Mat Nor 10,000 – 10,000Chow Chee Wah 149,000 147,000 2,000Chan Kuan Nam @ Chan Yong Foo 18,178,462 2,620,000 15,558,462Heng Teng Kuang 14,674,794 – 14,674,794


127

KEPENTINGAN PARA PENGARAH (samb)Bilangan Syer Biasa RM1 Setiap Satu


tarikh perlantikan Jual 2001

Gamuda Berhad

Pegangan Tidak Langsung Y A M Raja Dato’ Seri Eleena Azlan Shah* 92,486,928 – 92,486,928

* Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd

Skim Opsyen Syer Pekerja

Jumlah Opsyen

1 Ogos 2000/ Diperuntukkan

tarikh pada 26 31 Julai

perlantikan Disember 2000 Dilaksanakan 2001

Y Bhg Dato’ Lin Yun Ling – 500,000 – 500,000Ng Kee Leen – 500,000 – 500,000Goon Heng Wah – 500,000 – 500,000Y Bhg Dato’ Kamarul Zaman bin Mohd Ali – 500,000 – 500,000Ha Tiing Tai – 500,000 – 500,000Saw Wah Theng – 500,000 – 500,000Chow Chee Wah – 450,000 – 450,000Chan Kuan Nam @ Chan Yong Foo – 500,000 – 500,000Heng Teng Kuang – 500,000 – 500,000

Waran 1996/2006Jumlah Waran


tarikh perlantikan Dilaksanakan 2001

Pegangan Langsung Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim 110,110 – 110,110Y Bhg Dato’ Lin Yun Ling 8,053,442 – 8,053,442Ng Kee Leen 2,288,000 – 2,288,000Goon Heng Wah 1,788,158 – 1,788,158Y Bhg Dato’ Kamarul Zaman bin Mohd Ali 172,000 – 172,000Ha Tiing Tai 1,704,000 – 1,704,000Chan Kuan Nam @ Chan Yong Foo 3,957,332 – 3,957,332Heng Teng Kuang 3,553,076 – 3,553,076

Pegangan Tidak Langsung Y A M Raja Dato’ Seri Eleena Azlan Shah* 13,724,000 – 13,724,000

* Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd

Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa dalam tempohsepuluh tahun selepas tarikh terbitan iaitu 30 Disember 1996.


128

KEPENTINGAN PARA PENGARAH (samb)Waran 2001/2007

Jumlah Waran

1 Ogos 2000/ Diperuntukkan

tarikh pada 22 31 Julai

perlantikan Februari 2001 Jual 2001

Pegangan LangsungY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim – 206,457 – 206,457Y Bhg Dato’ Lin Yun Ling – 12,240,551 – 12,240,551Ng Kee Leen – 4,308,335 – 4,308,335Goon Heng Wah – 2,996,000 – 2,996,000Ha Tiing Tai – 3,477,000 – 3,477,000Y Bhg Dato’ Kamarul Zaman bin Mohd Ali – 351,500 20,000 331,500Saw Wah Theng – 96,000 – 96,000Chan Kuan Nam @ Chan Yong Foo – 4,433,000 – 4,433,000Heng Teng Kuang – 3,670,000 – 3,670,000

Pegangan Tidak Langsung Y A M Raja Dato’ Seri Eleena Azlan Shah* – 23,122,000 – 23,122,000

* Dianggap mempunyai kepentingan menerusi Generasi Setia (M) Sdn Bhd

Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa dalam tempohenam setengah tahun selepas tarikh terbitan iaitu 22 Februari 2001.

Wong Chin Yen pada akhir tahun kewangan tidak mempunyai sebarang kepentingan di dalam syer-syer, waran dan opsyenSyarikat atau syarikat-syarikat berkaitan dengannya sepanjang tahun kewangan.

BILANGAN PEKERJA DAN PEJABAT BERDAFTAR Bilangan pekerja di dalam Kumpulan dan Syarikat pada akhir tahun kewangan masing-masing adalah seramai 1,232 (2000: 1,289)dan 121 (2000: 482) orang. Di sepanjang tahun kewangan, Syarikat telah memindah seramai 307 orang ke sebuah syarikatsubsidiari di dalam Kumpulan.

Syarikat ini adalah sebuah syarikat awam dengan liabiliti terhad, diperbadankan dan berdomisil di Malaysia, dan disenaraikan diPapan Utama Bursa Saham Kuala Lumpur. Pejabat berdaftar Syarikat terletak di 55-61, Jalan SS22/23, Damansara Jaya, 47400Petaling Jaya.

JURUAUDITArthur Andersen & Co. bersara dan telah menyatakan kesanggupan mereka untuk dilantik semula.

Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd HashimPengerusi

Saw Wah ThengPengarah Kewangan

Petaling JayaTarikh: 8 November 2001

PENYATA PARA PENGARAH

129

Kami, Y BHG TAN SRI DATO’ IR TALHA BIN HAJI MOHD HASHIM dan SAW WAH THENG, dua daripada para pengarahGAMUDA BERHAD, dengan ini menyatakan bahawa, pada pendapat para pengarah, penyata kewangan yang dibentangkan dimuka surat 131 hingga 170, memberi gambaran yang benar dan saksama mengenai keadaan urusan Kumpulan dan Syarikat pada31 Julai 2001 dan keputusan serta aliran tunai Kumpulan dan Syarikat bagi tahun berakhir pada tarikh tersebut, dan telahdisediakan dengan wajarnya menurut peruntukan Akta Syarikat, 1965 dan piawaian perakaunan berkenaan yang diluluskan diMalaysia.

Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah


Saw Wah Theng

Petaling Jaya8 November 2001

Saya, SAW WAH THENG, pengarah yang terutamanya bertanggungjawab terhadap pengurusan kewangan GAMUDA BERHAD,dengan sesungguh dan seikhlasnya mengaku bahawa penyata kewangan yang dibentangkan di muka surat 131 hingga 170, adalahsebaik-baik pengetahuan dan kepercayaan saya betul, dan saya membuat pengakuan ini dengan sesungguhnya mempercayaibahawa ianya benar dan menurut peruntukan Akta Akuan Berkanun, 1960.

Ditandatangani dan diakui sesungguhnya )oleh penama di atas SAW WAH THENG )di Kuala Lumpur dalam Wilayah Persekutuan )pada 8 November 2001 ) Saw Wah Theng

Di hadapan saya:

Mohd Radzi bin Yasin (W327)Pesuruhjaya Sumpah

AKUAN BERKANUN

LAPORAN JURUAUDIT

130

Kepada Pemegang-Pemegang Syer GAMUDA BERHAD

Kami telah mengaudit penyata kewangan yang dibentangkan di muka surat 131 hingga 170. Penyata kewangan tersebut adalahtanggungjawab para pengarah Syarikat. Tanggungjawab kami adalah untuk menyatakan pendapat mengenai penyata kewangantersebut berdasarkan audit kami.

Kami melaksanakan audit mengikut Piawaian Pengauditan yang diluluskan di Malaysia. Piawaian tersebut memerlukan kamimerancang dan melaksanakan audit untuk mencapai kepastian munasabah mengenai samada penyata kewangan tersebut bebasdaripada salah nyata yang ketara. Sesuatu audit merangkumi pemeriksaan, berdasarkan ujian, bukti yang menyokong amaun danpenyataan dalam penyata kewangan. Sesuatu audit juga merangkumi penilaian prinsip perakaunan yang digunakan dan anggaranpenting yang dibuat oleh para pengarah, serta penilaian pembentangan penyata kewangan secara keseluruhannya. Kami percayabahawa audit kami telah memberi asas munasabah untuk menyatakan pendapat kami.

Pada pendapat kami,

(a) penyata kewangan telah disediakan dengan wajarnya menurut peruntukan Akta Syarikat, 1965 dan piawaian perakaunanberkenaan yang diluluskan di Malaysia dan memberi gambaran yang benar dan saksama mengenai:

(i) keadaan urusan Kumpulan dan Syarikat pada 31 Julai 2001 dan hasil serta aliran tunai Kumpulan dan Syarikat bagi tahunberakhir pada tarikh tersebut; dan

(ii) perkara-perkara yang diperlukan oleh Seksyen 169 dalam Akta Syarikat, 1965 yang perlu dituruti di dalam penyatakewangan;

(b) rekod perakaunan dan lain-lain rekod dan daftar-daftar yang dikehendaki oleh Akta untuk disimpan oleh Syarikat telahdisimpan dengan sempurna menurut peruntukan Akta.

Kami berpuashati bahawa penyata kewangan subsidiari-subsidiari yang telah disatukan dengan penyata kewangan Syarikat adalahdalam bentuk dan kandungan yang sesuai dan wajar bagi tujuan penyediaan penyata kewangan disatukan dan kami telahmenerima maklumat dan penjelasan yang memuaskan sebagaimana dikehendaki oleh kami bagi tujuan tersebut.

Laporan juruaudit bagi penyata kewangan subsidiari-subsidiari tidak tertakluk kepada sebarang syarat, dan bagi subsidiari-subsidiari yang diperbadankan di Malaysia tidak termasuk sebarang teguran di bawah seksyen kecil (3) Seksyen 174 Aktatersebut.

Arthur Andersen & Co. Abraham Verghese a/l T V AbrahamNo.AF 0103 No. 1664/10/02(J)Public Accountants Rakan Kongsi Firma

Tarikh: 8 November 2001

LEMBARAN IMBANGAN DISATUKAN 31 Julai 2001

131

2001 2000

Nota RM’000 RM’000

Aset Semasa

Tunai dan baki bank 7,747 3,874Deposit 3 352,117 167,204Penerimaan 4 550,229 188,235Inventori 6 15,611 15,347Pembangunan hartanah 7 362,316 99,967Hutang daripada pelanggan untuk kontrak pembinaan 8 73,530 35,336

1,361,550 509,963

Liabiliti Semasa

Pinjaman bank 9 8,915 10,691Bon 19 (a) 115,000 –Pembayaran 10 476,008 93,208Hutang kepada pelanggan untuk kontrak pembinaan 8 82,077 30,243Cukai 8,853 25,901Dividen dicadangkan 19,281 26,727

710,134 186,770

Aset Semasa Bersih 651,416 323,193Lain-lain Pelaburan 12 3,440 3,975Syarikat-syarikat Bersekutu 14 879,244 761,484Hartanah, Loji dan Peralatan 15 120,956 125,005Muhibah Dari Penyatuan 16 3,033 5,211Hak-hak Konsesi 17 70,000 –

1,728,089 1,218,868Dibiayai oleh:Modal Syer 18 665,389 665,191Rizab 550,626 407,424

1,216,015 1,072,615Kepentingan Minoriti 3,351 18,490Liabiliti Jangka Panjang 19 508,723 127,763

1,728,089 1,218,868

Nota-nota yang disertakan merupakan sebahagian asasi lembaran imbangan ini.

PENYATA PENDAPATAN DISATUKAN bagi tahun berakhir 31 Julai 2001

132

2001 2000


Perolehan 20 831,283 637,488Lain-lain pendapatan operasi 21 8,134 8,527Perubahan dalam stok barangan siap dan kerja dalam proses 1,170 (13,627)Pembelian – bahan mentah dan bahan penggunaan (20,184) (29,530)

– bahan perdagangan (14,805) (79)Kos kontrak pembinaan dicaj sebagai perbelanjaan kontrak 8 (604,544) (419,098)Kos pasti pengeluaran (2,216) (2,346)Kos tanah dan pembangunan (4,420) –Kos kakitangan 22 (25,015) (24,864)Susutnilai (9,171) (10,410)Lain-lain kos operasi 23 (15,340) (24,697)

Keuntungan dari operasi 144,892 121,364Kos kewangan 24 (15,125) (6,045)Pendapatan faedah 14,276 11,363Perkongsian keuntungan syarikat-syarikat bersekutu 131,992 79,380

Keuntungan sebelum cukai 276,035 206,062Cukai 25 (44,505) (34,706)Perkongsian cukai syarikat-syarikat bersekutu (35,345) (22,615)

Keuntungan selepas cukai 196,185 148,741Kepentingan minoriti (4,477) (1,926)

Keuntungan bersih bagi tahun semasa 191,708 146,815

Pendapatan sesyer 27

Pendapatan asas sesyer 29 sen 23 senPendapatan cair penuh sesyer 28 sen 22 sen

Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

PENYATA PERUBAHAN DALAM EKUITI DISATUKAN bagi tahun berakhir 31 Julai 2001

133

Modal Premium Keuntungan

syer syer * tertahan ** Jumlah

RM’000 RM’000 RM’000 RM’000

Pada 1 Ogos 1999 295,804 189,833 326,142 811,779Perlaksanaan waran-waran 19,023 47,625 – 66,648Perlaksanaan SOSP 28,150 72,573 – 100,723Penerbitan syer bonus 322,214 – – 322,214Penukaran untuk terbitan bonus – (270,992) (51,222) (322,214)Keuntungan bersih bagi tahun semasa – – 146,815 146,815Dividen (Nota 26) – – (53,350) (53,350)

Pada 31 Julai 2000 665,191 39,039 368,385 1,072,615Perlaksanaan SOSP 164 371 – 535Belanja berhubung dengan pengumpulan modal – (3,182) – (3,182)Wang permohonan syer 34 79 – 113Keuntungan bersih bagi tahun semasa – – 191,708 191,708Dividen (Nota 26) – – (45,774) (45,774)

Pada 31 Julai 2001 665,389 36,307 514,319 1,216,015

* Tidak boleh diagihkan** Boleh diagihkan


PENYATA ALIRAN TUNAI DISATUKAN bagi tahun berakhir 31 Julai 2001

134

2001 2000

RM’000 RM’000

Aliran Tunai dari Aktiviti Operasi

Keuntungan sebelum cukai 276,035 206,062Pelarasan untuk:

Keuntungan berpunca daripada pembangunan hartanah (1,396) –Keuntungan berpunca daripada kontrak pembinaan (146,912) (159,311)Susutnilai 9,171 10,410Hartanah, loji dan peralatan dihapuskira 680 747Kerugian/(keuntungan) tidak direalisasikan atas tukaran asing 20 (17)Peruntukan bersih untuk ganjaran persaraan pekerja 288 94Peruntukan untuk penyusutan nilai pelaburan 535 –Peruntukan untuk hutang ragu 138 263Pemulihan peruntukan untuk penyusutan nilai pelaburan – (57)Keuntungan dari jualan hartanah, loji dan peralatan (799) (875)Inventori dihapuskira 172 37Perkongsian keuntungan syarikat-syarikat bersekutu (131,992) (79,380)Pelunasan muhibah dari penyatuan 182 248Pelunasan muhibah dari sebuah syarikat bersekutu 2,313 –Pendapatan faedah (14,276) (11,363)Perbelanjaan faedah 15,125 6,045

Keuntungan/(kerugian) operasi sebelum perubahan modal kerja 9,284 (27,097)Pengurangan/(penambahan) modal kerja:

Inventori (436) (10,196)Penerimaan (369,672) 92,160Pembangunan hartanah (119,457) (99,967)Hutang bersih daripada/(kepada) pelanggan untuk kontrak pembinaan 165,786 140,541Pembayaran 332,231 24,298Pinjaman jangka pendek 1,403 895

Tunai dihasilkan daripada operasi 19,139 120,634Dividen diterima dari syarikat-syarikat bersekutu 12,968 3,031Cukai dibayar (59,964) (18,382)Perbelanjaan faedah dibayar (18,084) (13,081)Ganjaran persaraan pekerja dibayar – (144)

Tunai bersih (digunakan dalam)/dihasilkan daripada aktiviti operasi (45,941) 92,058

PENYATA ALIRAN TUNAI DISATUKAN bagi tahun berakhir 31 Julai 2001

135

2001 2000

RM’000 RM’000

Aliran Tunai dari Aktiviti Pelaburan

Perolehan daripada jualan pelaburan – 35Pembelian hartanah, loji dan peralatan (14,475) (24,979)Perolehan daripada jualan hartanah, loji dan peralatan 1,732 1,682Pelaburan dalam syarikat-syarikat bersekutu (19,465) (175,129)Aliran tunai bersih daripada pengambilalihan subsidiari (Nota 13) (69,816) –Pembayaran kepada pemegang syer minoriti untuk pengambilalihan subsidiari (18,400) –Pendapatan faedah diterima 14,276 11,363

Tunai bersih digunakan dalam aktiviti pelaburan (106,148) (187,028)

Aliran Tunai dari Aktiviti Pembiayaan

Perolehan daripada penukaran waran – 66,550Perolehan daripada SOSP dan wang permohonan syer 648 100,721Perolehan daripada terbitan bon dan waran 400,000 –Pembayaran balik bon – (75,000)Belanja berhubung dengan pengumpulan modal (3,182) –Dividen dibayar kepada pemegang syer (53,219) (44,450)Dividen dibayar kepada pemegang syer minoriti (193) (66)

Tunai bersih dihasilkan daripada aktiviti pembiayaan 344,054 47,755

Penambahan/(pengurangan) bersih tunai dan tunai setara 191,965 (47,215)Tunai dan tunai setara pada 1 Ogos 2000/1999 167,591 214,806

Tunai dan tunai setara pada 31 Julai 359,556 167,591Tunai dan tunai setara terdiri daripada:

Tunai dan baki bank 7,747 3,874Deposit tetap 352,117 167,204Overdraft bank (308) (3,487)

359,556 167,591


LEMBARAN IMBANGAN 31 Julai 2001

136

2001 2000


Aset Semasa

Tunai dan baki bank 556 1,738Deposit 3 58,286 100,190Penerimaan 4 362,535 162,405Hutang daripada subsidiari 5 313,871 187,110Inventori 6 1,099 1,012Hutang daripada pelanggan untuk kontrak pembinaan 8 2,376 3,009

738,723 455,464Liabiliti Semasa

Bon 19 (a) 115,000 –Pembayaran 10 45,398 59,139Hutang kepada subsidiari 11 57,750 22,840Hutang kepada pelanggan untuk kontrak pembinaan 8 34,497 26,985Cukai 2,889 21,038Dividen dicadangkan 19,281 26,727

274,815 156,729

Aset Semasa Bersih 463,908 298,735Lain-lain Pelabuhan 12 718 718Subsidiari-subsidiari 13 181,140 69,540Syarikat-syarikat Bersekutu 14 608,130 573,965Hartanah, Loji dan Peralatan 15 59,492 61,344

1,313,388 1,004,302Dibiayai oleh:

Modal Syer 18 665,389 665,191Rizab 237,736 213,843

903,125 879,034Liabiliti Jangka Panjang 19 410,263 125,268

1,313,388 1,004,302

Nota-nota yang disertakan merupakan sebahagian asasi lembaran imbangan ini.

PENYATA PENDAPATAN bagi tahun berakhir 31 Julai 2001

137

2001 2000


Perolehan 20 344,776 577,397Lain-lain pendapatan operasi 21 20,853 10,788Perubahan dalam stok barangan siap 87 1,012Kos kontrak pembinaan dicaj sebagai perbelanjaan kontrak 8 (241,921) (456,632)Kos kakitangan 22 (13,309) (13,232)Susutnilai (4,338) (2,527)Lain-lain kos operasi 23 (2,150) (5,516)

Keuntungan dari operasi 103,998 111,290Kos kewangan 24 (14,628) (5,645)Pendapatan faedah 7,568 9,226

Keuntungan sebelum cukai 96,938 114,871Cukai 25 (24,539) (29,539)

Keuntungan bersih bagi tahun semasa 72,399 85,332


PENYATA PERUBAHAN DALAM EKUITI bagi tahun berakhir 31 Julai 2001

138

Modal Premium * Keuntungan **

syer syer tertahan Jumlah

RM’000 RM’000 RM’000 RM’000

Pada 1 Ogos 1999 295,804 189,833 194,044 679,681Perlaksanaan waran 19,023 47,625 – 66,648Perlaksanaan SOSP 28,150 72,573 – 100,723Penerbitan syer bonus 322,214 – – 322,214Penukaran untuk terbitan bonus – (270,992) (51,222) (322,214)Keuntungan bersih bagi tahun semasa – – 85,332 85,332Dividen (Nota 26) – – (53,350) (53,350)

Pada 31 Julai 2000 665,191 39,039 174,804 879,034Perlaksanaan SOSP 164 371 – 535Belanja berhubung dengan pengumpulan modal – (3,182) – (3,182)Wang permohonan syer 34 79 – 113Keuntungan bersih bagi tahun semasa – – 72,399 72,399Dividen (Nota 26) – – (45,774) (45,774)

Pada 31 Julai 2001 665,389 36,307 201,429 903,125

* Tidak boleh diagihkan** Boleh diagihkan


PENYATA ALIRAN TUNAI bagi tahun berakhir 31 Julai 2001

139

2001 2000

RM’000 RM’000

Aliran Tunai dari Aktiviti Operasi

Keuntungan sebelum cukai 96,938 114,871Pelarasan untuk:

Keuntungan berpunca daripada kontrak pembinaan (102,942) (121,777)Susutnilai 4,338 2,527Hartanah, loji dan peralatan dihapuskira 45 150Peruntukan bersih untuk ganjaran persaraan pekerja (5) –Keuntungan daripada jualan hartanah, loji dan peralatan (690) (508)Pendapatan faedah (7,568) (9,226)Pendapatan dividen (14,218) (4,573)Perbelanjaan faedah 14,628 5,645

(Kerugian)/keuntungan operasi sebelum perubahan modal kerja (9,474) (12,891)Inventori (87) (1,012)Penerimaan (213,507) 93,741Hutang daripada subsidiari (126,761) (131,944)Hutang bersih daripada/(kepada) pelanggan untuk kontrak pembinaan 118,337 132,012Pembayaran (17,818) 4,929Hutang kepada subsidiari 34,910 617

Tunai (digunakan dalam)/dihasilkan daripada operasi (214,400) 85,452Cukai dibayar (42,688) (11,986)Perbelanjaan faedah dibayar (17,587) (11,290)Ganjaran persaraan pekerja dibayar – (144)

Tunai bersih (digunakan dalam)/dihasilkan daripada aktiviti operasi (274,675) 62,032

Aliran Tunai dari Aktiviti Pelaburan

Perolehan daripada jualan lain-lain pelaburan – (35)Pembelian hartanah, loji dan peralatan (3,011) (7,166)Perolehan daripada jualan hartanah, loji dan peralatan 956 1,464Pelaburan dalam syarikat-syarikat subsidiari (111,600) (4,040)Pelaburan dalam syarikat-syarikat bersekutu (19,465) (175,129)Pendapatan faedah diterima 7,284 9,197Pendapatan dividen diterima 13,178 3,293

Tunai bersih digunakan dalam aktiviti pelaburan (112,658) (172,416)

PENYATA ALIRAN TUNAI bagi tahun berakhir 31 Julai 2001

140

2001 2000

RM’000 RM’000

Aliran Tunai dari Aktiviti Pembiayaan

Perolehan daripada penukaran waran – 66,550Perolehan daripada SOSP dan wang permohonan syer 648 100,721Pembayaran dividen kepada pemegang syer (53,219) (44,450)Perolehan daripada terbitan bon dan waran 400,000 –Belanja berhubung dengan pengumpulan modal (3,182) –Pembayaran balik bon – (75,000)

Tunai bersih dihasilkan daripada aktiviti pembiayaan 344,247 47,821

Pengurangan bersih tunai dan tunai setara (43,086) (62,563)Tunai dan tunai setara pada 1 Ogos 101,928 164,491

Tunai dan tunai setara pada 31 Julai 58,842 101,928

Tunai dan tunai setara terdiri daripada:

Tunai dan baki di bank 556 1,738Deposit tetap 58,286 100,190

58,842 101,928


NOTA-NOTA KEPADA KEWANGAN 31 Julai 2001

141

1 KEGIATAN UTAMA

Kegiatan utama Syarikat adalah pegangan pelaburan dan pembinaan kejuruteraan awam.

Kegiatan-kegiatan utama syarikat-syarikat subsidiari dihuraikan dalam Nota 13.

Tiada sebarang perubahan penting dalam kegiatan-kegiatan utama ini di sepanjang tahun kewangan selain daripada kegiatan-kegiatan syarikat-syarikat subsidiari baru.

2 DASAR-DASAR PERAKAUNAN PENTING

(a) Asas Perakaunan

Penyata kewangan Kumpulan dan Syarikat telah disediakan menurut kelaziman kos sejarah selain daripada yangdinyatakan oleh dasar-dasar perakaunan di bawah dan mematuhi peruntukan Akta Syarikat, 1965 dan piawaianperakaunan berkenaan yang diluluskan di Malaysia.

(b) Asas Penyatuan

Penyata kewangan disatukan termasuk penyata kewangan Syarikat dan kesemua subsidiarinya yang disediakan hinggaakhir tahun kewangan. Subsidiari adalah syarikat-syarikat di mana Kumpulan memiliki kuasa untuk mengawal dasar-dasar kewangan dan operasinya untuk memperoleh manfaat daripada aktiviti-aktivitinya. Sesebuah usahasama adalahdianggap sebagai sebuah subsidiari apabila Kumpulan memiliki kuasa untuk mengawal dasar-dasar kewangan danoperasinya untuk memperolehi manfaat daripada aktiviti-aktivitinya. Syarikat-syarikat subsidiari yang diambil alih dandilupuskan sepanjang tahun telah diambilkira dalam penyata kewangan disatukan dari tarikh pengambilalihan sehinggatarikh pelupusan. Urusniaga di antara Syarikat telah dimansuhkan semasa penyatuan dan penyata kewangan disatukanhanya mencerminkan urusniaga dengan pihak ketiga sahaja. Kerugian yang belum direalisasikan telah dimansuhkansemasa penyatuan kecuali apabila kosnya tidak boleh dipulihkan.

Perbezaan harga belian atas nilai saksama aset-aset bersih subsidiari-subsidiari pada tarikh pengambilalihan diambilkiradalam lembaran imbangan disatukan sebagai muhibah atau rizab dari penyatuan. Muhibah dari penyatuan dilunaskansepanjang anggaran hayat kegunaannya. Muhibah dari penyatuan akan dinilai pada setiap tarikh lembaran imbangan danakan disusutkan nilai untuk penyusutan nilai yang dianggap perlu.

(c) Pertukaran dan Terjemahan Matawang

Urusniaga matawang asing telah ditukar kepada matawang Ringgit Malaysia pada kadar pertukaran yang berkuatkuasapada tarikh urusniaga. Aset dan liabiliti matawang asing yang bersifat kewangan pada tarikh lembaran imbangan telahditerjemahkan ke matawang Ringgit Malaysia pada kadar yang berkuatkuasa pada tarikh lembaran imbangan. Semuaperbezaan pertukaran telah diambilkira di dalam penyata pendapatan.

Penyata kewangan subsidiari-subsidiari asing yang telah disatukan telah diterjemahkan pada kadar pertukaran yangberkuatkuasa pada akhir tahun kewangan untuk lembaran imbangan dan pada kadar pertukaran yang berkuatkuasa padatarikh urusniaga untuk penyata pendapatan. Semua perbezaan terjemahan telah diambilkira di dalam rizab.

Kadar pertukaran untuk setiap unit matawang asing yang berkuatkuasa pada tarikh lembaran imbangan adalah sepertiberikut:

2001 2000

RM RM

Dollar Amerika Syarikat 3.80 3.80Dollar Singapura 2.08 2.19


142

2 DASAR-DASAR PERAKAUNAN PENTING (samb)(d) Hartanah, Loji dan Peralatan dan Susutnilai

Hartanah, loji dan peralatan dinyatakan pada kos atau penilaian setelah ditolak susutnilai terkumpul dan kerugiankerosakan terkumpul.

Nilai bawa hartanah, loji dan peralatan akan dinilai pada setiap tarikh lembaran imbangan samada terdapat tanda-tandapengurangan nilai. Jika terdapat tanda-tanda tersebut, nilai aset boleh pulih bagi hartanah, loji dan peralatan akandianggarkan. Kerugian kerosakan akan diambilkira apabila nilai bawa untuk satu-satu item hartanah, loji dan peralatanmelebihi nilai boleh dipulihnya. Kerugian kerosakan ini akan diambilkira di dalam penyata pendapatan melainkan iamengurangkan penilaian terdahulu, kerugian ini akan diambilkira di dalam ekuiti. Peningkatan dalam nilai boleh pulihyang berikutnya akan dikurangkan dengan jumlah yang akan diiktiraf sebagai susutnilai sekiranya tiada penghapuskiraanberlaku.

Susutnilai tidak diperuntukkan bagi tanah milikbebas dan pembinaan sedang dijalankan. Susutnilai diperuntukkan bagitanah pegangpajak di sepanjang tempoh pajakan.

Susutnilai hartanah, loji dan peralatan yang lain diperuntukkan mengikut kaedah garis lurus untuk menghapuskirakankos atau penilaian setiap aset ke nilai baki masing-masing di sepanjang anggaran hayat kegunaannya berdasarkan kadartahunan berikut:

Tanah pegangpajak jangkapanjang Sepanjang 60 tahunTanah pegangpajak jangkapendek dan bangunan di atasnya Sepanjang 30 hingga 50 tahunBangunan dan pembaikan 2%Loji, mesin dan peralatan pejabat 12% – 33%Perabot dan kelengkapan 10% – 15%Kenderaan bermotor 12% – 25%

Tanah milik bebas, tanah pegang pajak jangka panjang dan pendek dan bangunan di dalam Kumpulan dan Syarikat belumdinilaikan semula semenjak penilaian semula yang pertama pada tahun 1991. Para pengarah belum lagi mengamalkanpolisi penilaian semula secara teratur untuk aset-aset tersebut. Sepertimana yang dibenarkan di bawah peruntukanperalihan dalam Lembaga Piawaian Perakaunan Malaysia No. 15: Hartabenda, Loji Mesin dan Peralatan, aset berkaitanterus dinyatakan pada nilaian tahun 1991 ditolak susutnilai terkumpul.

(e) Inventori

Inventori dinyatakan pada harga terendah di antara kos (ditentukan pada asas kos purata wajaran) dan nilai pasaranbersih. Kos barangan siap dan kerja dalam proses adalah terdiri daripada kos bahan mentah, kos buruh langsung dankos pasti pengeluaran yang berkenaan.

(f) Manfaat Persaraan

Sumbangan adalah dibuat kepada Skim Dana Persaraan Syarikat, satu pelan manfaat tertakrif. Kos faedah persaraan dibawah Skim ini adalah ditentukan pada kaedah akruan penilaian faedah. Kesemua kos perkhidmatan semasa, kosperkhidmatan lepas dan pelarasan pengalaman yang berhubung kait dengan Skim Dana Persaraan Syarikat adalahdiambilkira menerusi penyata pendapatan secara sistematik sepanjang baki tempoh perkhidmatan ahli yang bolehdijangka.

Syarikat telah menyediakan pengiraan untuk menentukan peruntukan bagi skim dan tiada penilaian aktuari dilaksanakan.Para pengarah berpendapat bahawa kesan peruntukan tersebut ke atas penyata kewangan adalah tidak material untukmenyokong perlantikan penilai aktuari.


143

2 DASAR-DASAR PERAKAUNAN PENTING (samb)(g) Pengiktirafan Perolehan

(i) Perolehan dari kontrak pembinaan dan pembangunan hartanah adalah diiktiraf berasaskan “kaedah peratusan siap”.Peratusan siap diukur berasaskan kepada nisbah kos yang dibelanjakan sehingga sekarang dibandingkan denganjumlah kos jangkaan di mana hasil projek-projek tersebut boleh dianggarkan dengan pasti. Semua kerugian yangdijangka telah diperuntukkan sepenuhnya. Peratusan siap diukur berasaskan kepada pengesahan kerja pembinaanyang terkini.

(ii) Perolehan berkaitan dengan jualan barangan adalah diiktiraf selepas cukai jualan dan diskaun apabila penghantarantelah berlaku dan pemindahan risiko dan ganjaran telah siap.

(h) Penerimaan

Penerimaan adalah dibawa pada jangkaan nilai yang boleh direalisasikan. Semua hutang lapuk yang diketahuidihapuskirakan. Peruntukan dibuat bagi hutang ragu berdasarkan kepada semakan semula tertentu baki tertunggak padaakhir tahun kewangan.

(i) Hutang daripada/kepada Pelanggan Untuk Kontrak Pembinaan

Hutang daripada pelanggan untuk kontrak pembinaan adalah hutang bersih daripada kos yang dibelanjakan bersamadengan keuntungan yang diiktiraf selepas ditolak jumlah kerugian yang diiktirafkan dan tuntutan ansuran untuk semuakontrak dalam proses, di mana kos dibelanjakan bersama dengan keuntungan diiktiraf (ditolak kerugian diiktiraf)melebihi tuntutan ansuran.

Hutang kepada pelanggan untuk kontrak pembinaan adalah hutang bersih daripada kos yang dibelanjakan bersamadengan keuntungan yang diiktiraf selepas ditolak jumlah kerugian yang diiktirafkan dan tuntutan ansuran untuk semuakontrak dalam proses, di mana tuntutan ansuran melebihi kos dibelanjakan bersama dengan keuntungan diiktiraf(ditolak kerugian diiktiraf).

Kos terdiri daripada kos bahan mentah, buruh langsung, jumlah sub-kontrak dan kos pasti dibayar atau terakru terkiniyang berkaitan.

(j) Cukai Tertunda

Cukai tertunda diperuntukkan di bawah kaedah liabiliti bagi semua perbezaan masa yang penting kecuali di manaterdapat bukti munasabah bahawa perbezaan masa ini akan berterusan pada masa hadapan.

(k) Pelaburan

Pelaburan di dalam subsidiari-subsidiari, dan lain-lain pelaburan adalah dinyatakan pada kos ditolak sebarang peruntukanuntuk penyusutan nilai kekal. Apabila pelaburan dijual, perbezaan di antara perolehan bersih daripada jualan dan nilaibawa pelaburan adalah dicaj atau dikredit ke penyata pendapatan.

(l) Pembangunan Hartanah

Kos tanah dan pembangunan di mana sebahagian besar kerja pembangunan telah dijalankan dan dijangka akan siapdalam pusingan operasi biasa adalah dikelaskan sebagai pembangunan hartanah. Pembangunan hartanah dinyatakan padakos campur keuntungan ditolak kerugian dan tuntutan ansuran yang berkaitan. Kos merangkumi kos tanah, segala kospembangunan langsung dan lain-lain kos pembangunan yang berkaitan, termasuk faedah yang timbul sepanjang tempohpembangunan yang aktif.


144

2 DASAR-DASAR PERAKAUNAN PENTING (samb)(m) Tunai dan Tunai Setara

Tunai dan tunai setara termasuk tunai dalam tangan dan di bank serta deposit panggilan, selepas mengambilkiraoverdraf bank yang terhutang.

(n) Pelaburan dalam Syarikat-syarikat Bersekutu

Kumpulan menganggap syarikat-syarikat bersekutu adalah syarikat-syarikat di mana ia mempunyai kepentingan ekuitijangka panjang di antara 20 hingga 50 peratus dan di mana ia mempunyai pengaruh penting atas polisi-polisi kewangandan operasi syarikat-syarikat bersekutu.

Pelaburan dalam syarikat-syarikat bersekutu adalah dinyatakan dalam penyata kewangan disatukan melalui kaedah ekuitiberdasarkan penyata kewangan syarikat-syarikat bersekutu. Pelaburan di dalam syer keutamaan boleh tebus dalamsyarikat-syarikat bersekutu adalah dinyatakan pada kos ditolak sebarang peruntukan untuk penyusutan nilai kekal.Keuntungan yang belum direalisasikan hasil daripada urusniaga antara Kumpulan dengan syarikat-syarikat bersekututelah dimansuhkan sebahagiannya setakat kepentingan Kumpulan dalam syarikat-syarikat bersekutu tersebut; kerugianyang belum direalisasikan telah dimansuhkan kecuali apabila kosnya tidak boleh dipulihkan.

Perkongsian Kumpulan dalam keuntungan selepas pengambilalihan setelah ditolak kerugian syarikat-syarikat bersekututelah diambilkira dalam penyata pendapatan disatukan dan kepentingan Kumpulan dalam syarikat-syarikat bersekutuadalah dinyatakan pada kos dicampur perkongsian Kumpulan dalam keuntungan terkumpul dan rizab selepaspengambilalihan. Muhibah dari perolehan syarikat-syarikat bersekutu telah dilunaskan sepanjang anggaran hayatkegunaannya, tertakluk kepada penilaian tahunan untuk mengenalpasti sebarang penyusutan nilai kekal pada nilai bawa.

(o) Hak-hak Konsesi

Hak-hak konsesi adalah kos-kos berkaitan yang dibelanjakan, yang berhubung dengan pengaturan di mana Kumpulandapat memperoleh manfaat ekonomi di sepanjang tahun-tahun yang akan datang. Hak-hak konsesi akan dilunaskan disepanjang anggaran hayat kegunaannya, tertakluk kepada penilaian tahunan untuk mengenalpasti sebarang penyusutannilai kekal pada nilai bawa.

(p) Usahasama

Penyata kewangan Kumpulan termasuk semua usahasama yang telah dimeterai oleh Syarikat di mana Syarikatmengambilkira usahasama sebagai usahasama operasi yang berdasarkan kepada pembahagian keuntungan menurutkepentingan ekuiti sebanyak 70%.

Perkongsian keuntungan atau kerugian dalam usahasama telah diambilkira di dalam penyata kewangan Syarikatberdasarkan peratusan perkongsian keuntungan atau kerugian di dalam setiap usahasama.

3 DEPOSITKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Deposit di bank berlesen 335,767 131,384 57,136 64,370Deposit di syarikat diskaun 16,350 35,820 1,150 35,820

352,117 167,204 58,286 100,190


145

4 PENERIMAANKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Penerimaan perdagangan 380,276 109,645 313,961 86,419Wang tertahan 13,881 20,786 13,881 20,786Hutang daripada sebuah syarikat bersekutu

(perdagangan) 98,414 – – –Lain-lain penerimaan 43,819 44,693 19,860 40,367Dividen yang akan diterima 16,833 16,833 16,833 16,833

553,223 191,957 364,535 164,405Peruntukan bagi hutang ragu (2,994) (3,722) (2,000) (2,000)

550,229 188,235 362,535 162,405

Termasuk dalam penerimaan perdagangan Kumpulan dan Syarikat adalah hutang daripada usahasama sebanyakRM349,788,000 (2000: RM74,537,000) dan RM312,235,000 (2000: RM74,537,000) masing-masing.

Termasuk dalam lain-lain penerimaan Kumpulan dan Syarikat adalah hutang daripada sebuah syarikat bersekutu sebanyakRM15,000,000 (2000: RM14,700,000) berhutang dengan pelangganan syer keutamaan boleh tebus.

5 HUTANG DARIPADA SUBSIDIARITermasuk dalam hutang daripada subsidiari-subsidiari adalah hutang daripada sebuah subsidiari usahasama yang tidakdiperbadankan sebanyak RM38,945,000. Perkongsian Syarikat dalam aset-aset dan liabiliti-liabiliti subsidiari usahasama yangtidak diperbadankan adalah seperti berikut:

2001 2000

RM’000 RM’000

Aset semasa 262,360 –Aset bukan semasa 231 –Liabiliti semasa (231,137) –Liabiliti bukan semasa (24,500) –

Aset bersih 6,954 –Modal kerja tambahan 31,991 –

38,945 –

Termasuk dalam hutang daripada subsidiari-subsidiari adalah pendahuluan kepada sebuah subsidiari bersama faedah terakrusebanyak RM18,398,000 (2000: RM17,522,000) di mana hutang tersebut adalah tidak bercagar, dikenakan faedah pada kadar2.5% (2000: 2.5%) setahun dan tidak mempunyai tempoh pembayaran balik yang tetap.

Baki amaun terhutang daripada subsidiari-subsidiari adalah tidak bercagar, tanpa faedah dan tidak mempunyai tempohpembayaran balik yang tetap.


146

6 INVENTORIKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Pada kos:

Bahan-bahan mentah 273 1,486 – –Kerja dalam proses 1,601 336 – –Barangan siap 845 4,335 – –“Crusher run” dan kelompok-kelompok 805 – – –Barangan penggunaan setor dan bekalan 1,099 1,012 1,099 1,012

4,623 7,169 1,099 1,012

Pada nilai pasaran bersih:

Bahan-bahan mentah 6,873 7,123 – –Kerja dalam proses – 1,055 – –Barangan siap 4,115 – – –

10,988 8,178 – –

15,611 15,347 1,099 1,012

7 PEMBANGUNAN HARTANAH Kumpulan

2001 2000

RM’000 RM’000

Tanah pegangan bebas, pada kos 294,981 38,688Tanah pegangpajak, pada kos 60,656 60,656Perbelanjaan pembangunan 11,098 623Keuntungan diiktiraf 1,396 –

368,131 99,967Tolak:Tuntutan ansuran diterima dan akan diterima (5,815) –

362,316 99,967

Termasuk di dalam perbelanjaan pembangunan yang dibelanjakan sepanjang tahunadalah:

Susutnilai 372 –Kos kakitangan 944 –

Tanah pegangan bebas dengan jumlah yang dibawa sebanyak RM255,839,000 telah dicagarkan kepada sebuah bank berlesenuntuk jaminan bank yang diberikan kepada sebuah subsidiari, berhubung baki pertimbangan belian bagi tanah yang diperolehioleh subsidiarinya seperti yang dinyatakan dalam Nota 19(c).


147

8 HUTANG DARIPADA/(KEPADA) PELANGGAN UNTUK KONTRAK PEMBINAANKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Kos pembinaan 2,966,698 2,669,226 2,310,277 2,412,056Keuntungan diiktiraf selepas ditolak kerugian 252,827 222,040 199,834 214,472Tuntutan ansuran diterima dan akan diterima (3,228,072) (2,886,173) (2,542,232) (2,650,504)

(8,547) 5,093 (32,121) (23,976)Diwakili oleh:

Hutang daripada pelanggan untuk kontrak pembinaan 73,530 35,336 2,376 3,009Hutang kepada pelanggan untuk kontrak pembinaan (82,077) (30,243) (34,497) (26,985)

(8,547) 5,093 (32,121) (23,976)

Termasuk di dalam hutang daripada/(kepada)pelanggan untuk kontrak pembinaan adalah:

Kos kontrak pembinaan yang dibelanjakan sepanjang tahun 1,147,406 560,348 544,619 513,997

Kos kontrak pembinaan yang diiktirafkan sebagai perbelanjaan kontrak sepanjang tahun 604,544 419,098 241,921 456,632

Termasuk di dalam kos kontrak pembinaan yangdibelanjakan sepanjang tahun adalah:

Susutnilai 7,368 5,729 214 2,180Perbelanjaan faedah 7,036 7,036 7,036 5,645Kos kakitangan 19,184 15,032 5,443 11,210Sewa peralatan 19,954 14,610 1,250 8,205Sewa premis 66 – – –

9 PINJAMAN BANK Kumpulan

2001 2000

RM’000 RM’000

Overdraf bank 308 3,487Resit amanah penerimaan bank 8,607 7,204

8,915 10,691

Pinjaman bank telah dicagarkan ke atas aset-aset tertentu Kumpulan dan kadar faedah yang dikenakan adalah di antara3.90% hingga 8.30% (2000: 3.95% hingga 8.50%) setahun.


148

10 PEMBAYARAN Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Pembayaran perdagangan 227,946 47,814 15,547 24,371Lain-lain pembayaran 86,833 45,394 29,851 34,768Hutang kepada sebuah syarikat bersekutu 161,229 – – –

476,008 93,208 45,398 59,139

Termasuk dalam pembayaran perdagangan Kumpulan dan Syarikat adalah wang tertahan masing-masing sebanyakRM40,285,000 (2000: RM7,612,000) dan RM8,881,000 (2000: RM7,612,000).

Termasuk dalam lain-lain pembayaran Kumpulan adalah jumlah hutang sebanyak RM47,041,000 yang perlu dibayar balikdalam tempoh 12 bulan berhubung baki pertimbangan belian bagi tanah yang diperolehi oleh subsidiarinya seperti yangdinyatakan dalam Nota 19(c).

Hutang kepada sebuah syarikat bersekutu adalah pendahuluan berhubung kontrak pembinaan yang tidak bercagar, tanpafaedah dan dibayar balik secara ansuran yang dituntut oleh Kumpulan.

11 HUTANG KEPADA SUBSIDIARIHutang kepada syarikat-syarikat subsidiari adalah tidak bercagar, tanpa faedah dan tidak mempunyai tempoh pembayaranbalik yang tetap.

12 LAIN-LAIN PELABURANKumpulan Syarikat

2001 2000 2001 2000RM’000 RM’000 RM’000 RM’000

Pada kosSyer tersiarharga, di Malaysia 3,703 3,703 3 3Syer tak tersiarharga, di Malaysia 50 50 50 50Pelaburan dalam keanggotaan kelab yang boleh

dipindahmilik 665 665 665 665

4,418 4,418 718 718Peruntukan untuk penyusutan nilai pelaburan nilai

pelaburan dalam syer tersiarharga, di Malaysia (978) (443) – –

3,440 3,975 718 718

Harga pasaran Syer tersiarharga, di Malaysia 2,972 3,643 21 17


149

13 SUBSIDIARI-SUBSIDIARISyarikat

2001 2000

RM’000 RM’000

Syer tidak tersiarharga, pada kos 181,140 69,540

Subsidiari-subsidiari Syarikat adalah seperti berikut:

Kepentingan Berkesan

Modal 2001 2000 Kegiatan

Nama Syarikat Berbayar % % Utama

Gammau Construction Sdn Bhd RM6,000,000 100 100 Kejuruteraan awam danpembinaan kerja tanah

Gamuda Engineering Sdn Bhd RM770,000 100 100 Pembinaan insfrastrukturdan kejuruteraan awam

Gamuda Paper Industries Sdn Bhd RM18,000,000 95 95 Perkilangan dan penjualanbarangan kertas dan barangan yang berkaitan

Gamuda Trading Sdn Bhd RM109,000 100 100 Perdagangan bahan pembinaan

Gamuda Overseas Investment Ltd US$100,000 100 100 Pegangan pelaburan

Gamuda (India) Pte Ltd Rps100,000 100 – Tidak aktif

G.B. Kuari Sdn Bhd* RM750,000 100 70 Pengendalian kuari danperataan jalanraya danperkilangan “premix”

GPI Trading Sdn Bhd** RM2 95 95 Perdagangan kertas danbarangan yang berkaitan

GKTJV*** – 70 – Pembinaan instrastrukturdan kejuruteraan awam

Ganaz Bina Sdn Bhd RM3,000,000 100 100 Pembinaan kejuruteraan awam

GIT Services Sdn Bhd RM100,000 100 100 Perdagangan dan perkhidmatan teknolojimaklumat

Harum Intisari Sdn Bhd RM5,350,000 100 – Pembangunan hartanah

Masterpave Sdn Bhd RM2,500,000 100 100 Perkilangan, penyediaan danperletakan barangan perataan jalanraya

Megah Sewa Sdn Bhd RM100,002 100 100 Penyewaan loji dan mesin

Megah Capital Sdn Bhd RM2 100 100 Perdagangan dan peganganpelaburan


150

13 SUBSIDIARI-SUBSIDIARI (samb)Kepentingan Berkesan

Modal 2001 2000 Kegiatan

Nama Syarikat Berbayar % % Utama

Megah Management Services Sdn Bhd RM50,000 100 100 Ejen insurans

Reka Strategi Sdn Bhd RM2 100 100 Tidak aktif

Gamuda Water Sdn Bhd RM2,000,000 80 – Pengendalian dan(dahului dikenali sebagai The Sweet Water penyelenggaraan loji-lojiManagement Sdn Bhd)**** penapisan air

Valencia Development Sdn Bhd RM300,000 80 80 Pembangunan hartanah

* Pegangan 100% menerusi Ganaz Bina Sdn Bhd

** Pegangan 100% menerusi Gamuda Paper Industries Sdn Bhd

*** GKTJV adalah sebuah usahasama tidak diperbadankan yang ditubuhkan oleh Gamuda Berhad, Kumpulan Darul EhsanBerhad dan The Sweet Water Alliance Sdn Bhd di bawah satu perjanjian kontrak. Menurut Lembaga PiawaianPerakaunan Malaysia, Piawaian No. 16, Pelaporan Kewangan berhubung Kepentingan di Usahasama, GKTJV telahdianggap sebagai subsidiari Gamuda Berhad memandangkan Kumpulan memiliki kuasa untuk mengawal dasar-dasarkewangan dan operasi atas aktiviti ekonomi GKTJV.

**** Gamuda Water Sdn Bhd, (“GWSB”) telah dianggap sebagai subsidiari Gamuda Berhad berdasarkan kandungan dalamPerjanjian Jualbeli di antara Gamuda Berhad dan penjual yang telah dimeterai pada 31 Julai 2001.

Subsidiari-subsidiari kesemuanya diperbadankan di Malaysia kecuali yang berikut:

Nama Syarikat Negara diperbadankan

Gamuda Overseas Investment Ltd British Virgin IslandsGamuda (India) Pte Ltd India

Perolehan subsidiari:

Tarikh efektif untuk perolehan kepentingan ekuiti sebanyak 80% pada jumlah pertimbangan sebanyak RM71,600,000 adalah31 Julai 2001 maka perolehan tersebut tidak memberi kesan kepada keputusan kewangan Kumpulan bagi tahun berakhir 31Julai 2001.


151

13 SUBSIDIARI-SUBSIDIARI (samb)Nilai saksama aset yang diperoleh dan liabiliti yang ditanggung daripada perolehan subsidiari adalah seperti berikut:

31 July 2001RM’000

Aset bersih diperolehi:Penerimaan perdagangan dan lain-lain 220Tunai dan baki bank 1,784Pembayaran perdagangan dan lain-lain (4)

2,000Kepentingan minoriti (400)

1,600Hak-hak konsesi 70,000

Pertimbangan belian 71,600Tolak:Tunai dan tunai setara subsidiari diperoleh (1,784)

Tunai bersih digunakan untuk perolehan subsidiari 69,816

14 SYARIKAT-SYARIKAT BERSEKUTUKumpulan Syarikat

2001 2000 2001 2000RM’000 RM’000 RM’000 RM’000

Syer tidak tersiarharga, pada kos 122,685 89,685 122,685 89,685Syer Keutamaan Bolehtebus 306,425 306,425 306,425 306,425Hak Kumpulan pada keuntungan, ditolak dividen

yang akan diterima 185,601 134,925 – –

614,711 531,035 429,110 396,110

Diwakili oleh:

Perkongsian Kumpulan terhadap aset bersih 570,769 484,780Muhibah ditolak pelunasan 43,942 46,255

614,711 531,035

Syer tersiarharga, pada kos 179,020 177,855 179,020 177,855Hak Kumpulan pada keuntungan, ditolak dividen

yang akan diterima 85,513 52,594 – –

264,533 230,449 179,020 177,855

Diwakili oleh:

Perkongsian Kumpulan terhadap aset bersih 264,533 230,449

879,244 761,484 608,130 573,965

Harga pasaran:Syer tersiarharga, di Malaysia 726,821 578,803 726,821 578,803


152

14 SYARIKAT-SYARIKAT BERSEKUTU (samb)Kesas Holdings Bhd dan Lingkaran Trans Kota Holdings Berhad telah mengamalkan polisi perakaunan untukmempermodalkan faedah yang dikenakan ke atas pinjaman yang digunakan untuk pembinaan Lebuhraya yang telahdigunakan.Permodalan faedah yang dikenakan secara berterusan ke atas kos pembinaan Lebuhraya yang sedang digunakandan tundaan kos faedah selepas pembinaan mewakili satu penyelewangan dari peruntukan dalam Piawaian PerakaunanAntarabangsa (PPA) 23, Kos Pinjaman Dipermodalkan. Sekiranya peruntukan PPA23 dipatuhi, penyata pendapatan dankeuntungan tertahan Kumpulan adalah seperti berikut:

2001 2000

Kumpulan RM’000 RM’000

Penyata Pendapatan:

Keuntungan bersih bagi tahun semasa seperti dilaporkan 191,708 146,815Perkongsian penghapuskiraan faedah bersih yang dipermodalkan di sepanjang tahun (35,054) (38,404)

Keuntungan bersih bagi tahun semasa seperti diselaraskan 156,654 108,411

Keuntungan Tertahan:

Keuntungan tertahan dibawa ke hadapan seperti dilaporkan 514,319 368,385Perkongsian penghapuskiraan akaun penyamaan faedah bersih (140,477) (103,795)

Keuntungan tertahan dibawa ke hadapan seperti diselaraskan 373,842 264,590

Syarikat-syarikat bersekutu, yang kesemuanya diperbadankan di Malaysia, adalah seperti berikut:

Kepentingan Berkesan

Modal Berbayar 2001 2000 Kegiatan

Nama Syarikat RM % % Utama

Dyna Plastics Sdn Bhd 44,907,552 44 44 Pengilangan dan penjualanbateri ion Lithium Polimerdan aksesori berkaitan

Gabungan Cekap Sdn Bhd 160,000,000 30 30 Pegangan pelaburan

Hicom-Gamuda Development Sdn Bhd 6,053,004 50 50 Pembangunan hartanah

Kesas Holdings Bhd 470,914,840 30 30 Pegangan pelaburan

Lingkaran Trans Kota Holdings Berhad* 452,731,000 41 41 Pegangan pelaburan danperuntukan perkhidmatanpengurusan

Madang Permai Sdn Bhd 5,000,000 36 36 Pegangan konsesi sebuahLebuhraya

Sistem Penyuraian Trafik KL Barat 9,055,000 42 30 Pegangan pelaburanHoldings Sdn Bhd

Sussen (Malaysia) Sdn Bhd 600,000 50 50 Perkilangan dan perniagaanbarangan emulsi bitumen

* Syer tersiarharga di Malaysia


153

15 HARTANAH, LOJI DAN PERALATAN Lain-lain

Pembinaan hartanah,

Tanah dan sedang loji dan

bangunan * dijalankan peralatan ** Jumlah

Kumpulan RM’000 RM’000 RM’000 RM’000

Pada Nilaian/Kos

Pada 1 Ogos 2000 44,349 26,066 157,749 228,164Penambahan – 341 14,134 14,475Jualan – – (7,658) (7,658)Pelupusan – – (839) (839)

Pada 31 Julai 2001 44,349 26,407 163,386 234,142

Susutnilai Terkumpul

Pada 1 Ogos 2000 5,866 – 97,293 103,159Caj 745 – 16,166 16,911Jualan – – (6,725) (6,725)Pelupusan – – (159) (159)

Pada 31 Julai 2001 6,611 – 106,575 113,186

Nilai Buku Bersih

Pada 31 Julai 2001 37,738 26,407 56,811 120,956

Pada 31 Julai 2001 38,483 26,066 60,456 125,005

Susutnilai untuk 2000 687 – 15,452 16,139

* Tanah dan Bangunan

Pada Nilai Pada Kos

Tanah

Tanah dan bangunan Tanah Bangunan Tanah dan

dan bangunan peganganpajak peganganpajak peganganpajak bangunan

milik bebas jangkapanjang jangkapendek jangkapendek milik bebas Jumlah

Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Pada Nilaian/Kos

Pada 1 Ogos 2000 1,192 3,171 14,313 187 25,486 44,349Penambahan – – – – – –Klasifikasi semula 448 (1,148) – – 700 –

Pada 31 Julai 2001 1,640 2,023 14,313 187 26,186 44,349


154

15 HARTANAH, LOJI DAN PERALATAN (samb)Pada Nilai Pada Kos

Tanah dan

Tanah dan bangunan Tanah Bangunan Tanah dan

bangunan peganganpajak peganganpajak peganganpajak bangunan

milik bebas jangkapanjang jangkapendek jangkapendek milik bebas Jumlah

Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’000


Pada 1 Ogos 2000 – 522 4,256 58 1,030 5,866Klasifikasi semula 172 (232) – – 60 –Caj – 51 472 6 216 745

Pada 31 Julai 2001 172 341 4,728 64 1,306 6,611

Nilai Buku Bersih

Pada 31 Julai 2001 1,468 1,682 9,585 123 24,880 37,738

Pada 31 Julai 2000 1,192 2,649 10,057 129 24,456 38,483

Susutnilai untuk 2000 – 60 469 10 148 687

** Lain-lain hartanah, loji dan peralatan

Pada Kos

Peralatan,

pejabat, Loji,

Kenderaan perabot dan mesin dan

bermotor kelengkapan peralatan Jumlah


Pada Kos

Pada 1 Ogos 2000 36,072 13,479 108,198 157,749Penambahan 2,569 2,891 8,674 14,134Jualan (2,319) (112) (5,227) (7,658)Pelupusan (49) (85) (705) (839)

Pada 31 Julai 2001 36,273 16,173 110,940 163,386


Pada 1 Ogos 2000 19,270 9,816 68,207 97,293Caj 4,137 2,237 9,792 16,166Jualan (1,755) (92) (4,878) (6,725)Pelupusan (25) (73) (61) (159)

Pada 31 Julai 2001 21,627 11,888 73,060 106,575


155

15 HARTANAH, LOJI DAN PERALATAN (samb)** Lain-lain hartanah, loji dan peralatan

Pada Kos

Peralatan,pejabat, Loji,

Kenderaan perabot dan mesin danbermotor kelengkapan peralatan Jumlah


Nilai Buku Bersih

Pada 31 Julai 2001 14,646 4,285 37,880 56,811

Pada 31 Julai 2000 16,802 3,663 39,991 60,456

Susutnilai untuk 2000 4,083 1,715 9,654 15,452

Pada Nilai Pada Kos

Lain-lain Pembinaan hartanah

Tanah dan sedang loji danbangunan ^ dijalankan peralatan ^^ Jumlah

Syarikat RM’000 RM’000 RM’000 RM’000

Pada Nilaian/Kos

Pada 1 Ogos 2000 20,970 26,066 36,106 83,142Penambahan – 341 2,604 2,945Pindahan masuk – – 66 66Klasifikasi semula 4,335 (4,505) 170 –Pindahan keluar – – (157) (157)Jualan – – (1,741) (1,741)Pelupusan – – (156) (156)

Pada 31 Julai 2001 25,305 21,902 36,892 84,099


Pada 1 Ogos 2000 872 – 20,926 21,798Caj 167 – 4,385 4,552Pindahan keluar – – (112) (112)Jualan – – (1,520) (1,520)Pelupusan – – (111) (111)

Pada 31 Julai 2001 1,039 – 23,568 24,607

Nilai Buku Bersih

Pada 31 Julai 2001 24,266 21,902 13,324 59,492

Pada 31 Julai 2000 20,098 26,066 15,180 61,344

Susutnilai untuk 2000 108 – 4,599 4,707


156

15 HARTANAH, LOJI DAN PERALATAN (samb)^ Tanah dan bangunan

Pada Nilai Pada Kos

Tanah danTanah dan bangunan Tanah danbangunan peganganpajak bangunan

milik bebas jangkapanjang milik bebas JumlahSyarikat RM’000 RM’000 RM’000 RM’000

Pada Nilaian/Kos

Pada 1 Ogos 2000 780 2,623 17,567 20,970Klasifikasi semula 860 (860) 4,335 4,335

Pada 31 Julai 2001 1,640 1,763 21,902 25,305


Pada 1 Ogos 2000 – 424 448 872Klasifikasi semula 172 (172) – –Caj – 49 118 167

Pada 31 Julai 2001 172 301 566 1,039

Nilai Buku Bersih

Pada 31 Julai 2001 1,468 1,462 21,336 24,266

Pada 31 Julai 2000 780 2,199 17,119 20,098

Susutnilai untuk 2000 – 49 59 108

^^ Lain-lain hartanah, loji dan peralatan


Kenderaan perabot dan mesin danbermotor kelengkapan peralatan Jumlah

Syarikat RM’000 RM’000 RM’000 RM’000

Pada Kos

Pada 1 Ogos 2000 22,714 9,599 3,793 36,106Penambahan 1,644 960 – 2,604Pindahan masuk 66 – – 66Klasifikasi semula – 170 – 170Pindahan keluar (103) (19) (35) (157)Jualan (1,694) (47) – (1,741)Pelupusan (49) (82) (25) (156)

Pada 31 Julai 2001 22,578 10,581 3,733 36,892


Pada 1 Ogos 2000 10,634 7,357 2,935 20,926Caj 3,127 1,009 249 4,385Pindahan keluar (67) (15) (30) (112)Jualan (1,478) (42) – (1,520)Pelupusan (25) (73) (13) (111)

Pada 31 Julai 2001 12,191 8,236 3,141 23,568


157

15 HARTANAH, LOJI DAN PERALATAN (samb)^^ Lain-lain hartanah, loji dan peralatan


Kenderaan perabot dan mesin danSyarikat bermotor kelengkapan peralatan JumlahPada Kos RM’000 RM’000 RM’000 RM’000

Nilai Buku Bersih

Pada 31 Julai 2001 10,387 2,345 592 13,324

Pada 31 Julai 2000 12,080 2,242 858 15,180

Susutnilai untuk 2000 2,980 1,285 334 4,599

(a) Tanah dan bangunan Kumpulan mengikut penilaian jurunilai profesional bebas pada 31 Julai 2001 adalah seperti berikut:

Tanah dan bangunan pegangpajak jangkapanjang dan jangka pendek

TahunTahun Butir-butir Jumlah Asas pajakanpenilaian hartanah RM’000 penilaian tamat

1991 Tanah dan bangunan pegangpajak jangkapanjang di 260 Harga pasaran 2078Jalan Gopeng, Ipoh bebas

1991 Tanah dan bangunan pegangpajak jangkapanjang di 753 Harga pasaran 2050Jelapang, Ipoh bebas

1991 Tanah dan bangunan pegangpajak jangkapanjang di 462 Harga pasaran 2043Jelapang, Ipoh bebas

1991 Tanah dan bangunan pegangpajak jangkapendek di 14,500 Harga pasaran 2022Kampar, Daerah Kinta bebas

Tanah dan bangunan milik bebas

Tahun Butir-butir Jumlah Asaspenilaian hartanah RM’000 penilaian

1991 Tanah dan bangunan milik bebas 1,240 Harga pasarandi Petaling Jaya bebas

1991 Tanah dan bangunan milik bebas 400 Harga pasarandi Petaling Jaya bebas

(b) Hartanah, loji dan peralatan Kumpulan dengan nilai buku RM7,183,000 (2000: RM7,260,000) telah dicagarkan kepadasebuah institusi kewangan untuk kemudahan kredit yang diberikan kepada Kumpulan.

(c) Termasuk di dalam hartanah, loji dan peralatan Kumpulan dan Syarikat ialah hartanah, loji dan peralatan yang telahdisusutnilaikan penuh, masih digunakan pada kos masing-masing berjumlah RM39,300,000 (2000: RM36,728,000) danRM10,639,000 (2000: RM13,925,000).


158

15 HARTANAH, LOJI DAN PERALATAN (samb)(d) Sekiranya hartanah, loji dan peralatan pada nilaian dinyatakan pada kos sejarah ditolak susutnilai terkumpul, nilai buku

bersih untuk setiap kelas hartanah, loji dan peralatan yang sepatutnya direkodkan dalam penyata kewangan Kumpulandan Syarikat adalah seperti berikut:

Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Tanah milik bebas 15,009 15,020 14,572 14,572Tanah pegangpajak jangkapanjang 353 365 – –Bangunan 2,487 2,547 2,487 2,547

16 MUHIBAH DARI PENYATUANKumpulan

2001 2000

RM’000 RM’000

Muhibah dari penyatuan (a) 5,448 7,444Rizab dari penyatuan (b) (1,787) (1,787)

3,661 5,657Pelunasan muhibah terkumpul (2,415) (2,233)Jumlah rizab terkumpul dikredit 1,787 1,787

3,033 5,211

(a) Muhibah dari penyatuan timbul daripada pembelian Kumpulan Ganaz Bina Sdn Bhd yang terdiri daripada Ganaz BinaSdn Bhd dan subsidiarinya, G.B. Kuari Sdn Bhd Muhibah tersebut akan dilunaskan sepanjang tempoh 30 tahun selarasdengan tempoh pajakan kuari, yang merupakan aset utama Kumpulan Ganaz Bina Sdn Bhd Perolehan kepentingantambahan dalam G.B. Kuari Sdn Bhd sepanjang tahun telah menghasilkan rizab dari penyatuan sebanyak RM1,996,000yang telah diimbangi oleh muhibah yang sedia ada.

(b) Rizab dari penyatuan timbul daripada pembelian Gammau Construction Sdn Bhd. Rizab tersebut akan dilunaskan kepenyata pendapatan sepanjang tempoh 8 tahun berdasarkan purata anggaran hayat aset-aset tetap utama tetap yangdibeli.

17 HAK-HAK KONSESIKumpulan

2001 2000

RM’000 RM’000

Hak-hak konsesi 70,000 –

Hak-hak konsesi adalah berhubung perolehan sebuah subsidiari, Gamuda Water Sdn Bhd (dahulu dikenali The Sweet WaterManagement Sdn Bhd) Gamuda Water Sdn Bhd telah dikurniakan hak-hak untuk mengendali dan menyelenggarakan loji-lojipenapisan air Skim Bekalan Air Sungai Selangor Fasa 3 untuk tempoh 30 tahun. Hak-hak konsesi ini akan dilunaskanmengikut kaedah sistematik pada permulaan operasi-operasi berkenaan setiap fasa sepanjang baki tempoh konsesi.


159

18 MODAL SYERKumpulan dan Syarikat

Bilangan Syer Biasa

bernilai RM1 setiap satu Jumlah

2001 2000 2001 2000

’000 ’000 RM’000 RM’000

Dibenarkan:Pada 1 Ogos 2000/1999 1,000,000 1,000,000 1,000,000 1,000,000Terbitan di sepanjang tahun 1,000,000 – 1,000,000 –

Pada 31 Julai 2,000,000 1,000,000 2,000,000 1,000,000

Diterbitkan dan dibayar penuh:Pada 1 Ogos 2000/1999 665,191 295,804 665,191 295,804Perlaksanaan waran – 19,023 – 19,023Perlaksanaan SOSP 164 28,150 164 28,150Terbitan bonus satu untuk satu – 322,214 – 322,214

665,355 665,191 665,355 665,191

Wang permohonan syer 34 –

Pada 31 Julai 665,389 665,191

(a) Modal syer Syarikat yang diterbitkan dan dibayar telah ditambah menerusi terbitan 164,000 syer biasa baru bernilaiRM1.00 setiap satu berkaitan perlaksanaan Skim Opsyen Syer Pekerja.

Kesemua syer baru yang diterbitkan mempunyai taraf yang sama dalam semua hal dengan syer biasa Syarikat yang sediaada.

(b) Ciri-ciri utama SOSP adalah seperti berikut:

(i) Mereka yang layak adalah pekerja-pekerja dan Pengarah Eksekutif sepenuh masa Kumpulan (termasuk pekerjakontrak dan warganegara asing dengan kontrak perkhidmatan sekurang-kurangnya tiga tahun) yang telah disahkanjawatan dan telah bekerja dengan Kumpulan untuk tempoh yang berterusan selama sekurang-kurangnya satutahun pada tarikh tawaran. Kelayakan untuk mengambil bahagian dalam SOSP adalah tertakluk kepadapertimbangan Ahli Jawatankuasa Opsyen.

(ii) SOSP akan berkuatkuasa bagi tempoh 5 tahun bermula dari 26 Disember 2000 tertakluk kepada sebarangpelanjutan atau pembaharuan untuk tempoh selanjutnya yang tidak melebihi 5 tahun bermula dari hari berikutantarikh tamatnya tempoh 5 tahun yang asal, yang boleh diluluskan oleh semua pihak berkenaan.

(iii) Jumlah bilangan syer yang akan ditawarkan tidak boleh melebihi 10% daripada modal syer Syarikat yang diterbitkandan dibayar penuh pada bila-bila masa sepanjang tempoh SOSP.

(iv) Harga langganan di bawah SOSP ini adalah harga purata wajaran bagi harga pasaran syer-syer Syarikat sebagaimanadinyatakan dalam Senarai Rasmi Harian yang diterbitkan oleh Bursa Saham Kuala Lumpur bagi 5 hari pasaransebelum tarikh tawaran opsyen tersebut tertakluk kepada diskaun tidak melebihi sepuluh peratus (10%), atau padanilai tara syer tersebut, yang mana lebih tinggi.

(v) Bilangan syer yang akan ditawarkan kepada seseorang pekerja yang layak mengikut SOSP akan ditentukanberdasarkan pertimbangan Ahli Jawatankuasa Opsyen selepas mengambilkira faktor-faktor seperti jawatan,prestasi, senioriti dan tempoh perkhidmatan pekerja yang layak tersebut dan tertakluk kepada peruntukanmaksima yang dibenarkan untuk seseorang pekerja yang layak.


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18 MODAL SYER (samb)(vi) Bilangan syer di bawah SOSP yang tidak diterbitkan atau harga opsyen atau kedua-duanya boleh diselaraskan jika

berlaku sebarang perubahan dalam struktur modal Syarikat di sepanjang tempoh opsyen, sama ada secarapermodalan keuntungan atau rizab, terbitan hak, penyatuan syer-syer, pembahagian kecil atau pengurangan modaldan sebagainya, yang dilakukan oleh Syarikat.

(vii) Opsyen tersebut tidak akan layak untuk sebarang hak untuk mengundi di sebarang mesyuarat agung Syarikat danseseorang penerima tidak akan layak untuk sebarang dividen, hak atau kelayakan-kelayakan lain atas opsyen yangbelum dilaksanakan.

(viii) Opsyen yang diberi di bawah SOSP tidak boleh ditukar hakmilik.

(ix) Syer-syer baru Syarikat yang akan diperuntukkan dengan perlaksanaan opsyen tersebut akan mempunyai taraf yangsama dalam semua hal dengan syer-syer biasa Syarikat yang diterbitkan dan dibayar penuh yang sedia adamelainkan syer-syer baru yang diterbitkan tidak akan layak untuk sebarang dividen, hak, peruntukan dan/ataupengagihan lain, sebelum tarikh kelayakan (iaitu tarikh tutup perniagaan di mana para pemegang syer mestiberdaftar agar melayakkan diri mereka untuk sebarang dividen, hak, peruntukan atau pengagihan lain), yang manasebelum tarikh peruntukan syer-syer baru.

(c) Dalam tahun kewangan berakhir 31 Julai 1997, Syarikat telah menerbitkan 38,351,903 Waran 1996/2006 seperti yangdinyatakan dalam Nota 19(a)(i) kepada penyata kewangan. Pada tarikh lembaran imbangan, jumlah Waran 1996/2006yang belum dilaksanakan adalah sebanyak 76,650,642 (2000: 76,650,642) unit selepas perlarasan untuk terbitan bonussatu untuk satu pada tahun kewangan yang lepas.

(d) Di sepanjang tahun kewangan, Syarikat telah menerbitkan 166,297,668 Waran 2001/2007 seperti yang dinyatakan dalamNota 19(a)(ii) kepada penyata kewangan. Pada tarikh lembaran imbangan, jumlah Waran 2001/2007 yang belumdilaksanakan adalah sebanyak 166,297,668 (2000:Tiada) unit.

19 LIABILITI JANGKA PANJANGKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Bon (a) 400,000 115,000 400,000 115,000Cukai tertunda (b) 9,575 7,986 6,272 6,272Pembayaran jangkapanjang (c) 94,083 – – –Peruntukan untuk ganjaran persaraan (d) 5,065 4,777 3,991 3,996

508,723 127,763 410,263 125,268

Kumpulan dan Syarikat

2001 2000

RM’000 RM’000

(a) Bon

Jumlah nominal 4% Bon Bolehtebus Tidak Bercagar 1996/2001 115,000 115,000Jumlah nominal 3% Bon Bolehtebus Tidak Bercagar 2000/2007 400,000 –

515,000 115,000Jumlah perlu dibayar balik dalam 12 bulan (115,000) –

400,000 115,000


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19 LIABILITI JANGKA PANJANG (samb)Sifat-sifat utama Bon Bolehtebus Tidak Bercagar adalah seperti berikut:

(i) 4% Bon Bolehtebus Tidak Bercagar 1996/2001 yang berjumlah nominal RM115,000,000 telah diterbitkan bersama38,351,903 waran ceraian kepada pembeli utama dan kemudiannya dijual kepada pemegang syer dengan nisbah satuwaran untuk setiap tiga syer biasa sedia ada yang telah dimiliki pada harga tawaran 58.4 sen setiap waran. Setiap waranmemberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa pada atau sebelumtarikh akhir iaitu lima tahun selepas tarikh penerbitan iaitu 30 Disember 1996. Pada tahun 1999, tempoh langganantelah dilanjutkan untuk tempoh selanjutnya selama lima tahun bermula dari 29 Disember 2001 hingga 29 Disember2006. Setiap Waran 1996/2006 memberikan hak untuk melanggan satu syer Syarikat bernilai RM1.00 setiap satu padaharga perlaksanaan RM4.21, tertakluk kepada perubahan selaras dengan peruntukan yang dinyatakan di dalam SuratIkatan Cabutan.

Bon-bon yang telah diterbitkan pada 100% nilai nominalnya dan mempunyai kadar kupon tetap sebanyak 4% setahundibayar tertunggak secara tahunan. Apabila tamat tempohnya, bon-bon akan ditebus pada 100% nilai nominal bersertadengan faedah terakru sehingga tarikh matangnya iaitu 29 Disember 2001.

(ii) 3% Bon Bolehtebus Tidak Bercagar 2000/2007 yang berjumlah nominal RM400,000,000 telah diterbitkan bersama166,297,668 waran ceraian kepada pembeli utama dan kemudiannya dijual kepada pemegang syer dengan nisbah satuwaran untuk setiap empat syer biasa sedia ada yang telah dimiliki pada harga tawaran 61.0 sen setiap waran. Setiapwaran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa pada atausebelum tarikh akhir iaitu enam setengah tahun selepas tarikh penerbitan iaitu 22 Februari 2001, pada hargaperlaksanaan RM3.75 setiap syer. Harga perlaksanaan tertakluk kepada perubahan dari semasa ke semasa selarasdengan syarat-syarat yang dinyatakan di dalam Surat Ikatan Cabutan yang diwujudkan pada 22 Februari 2001.

Bon-bon yang telah diterbitkan pada 100% nilai nominalnya dan mempunyai kadar kupon tetap sebanyak 3% setahundibayar tertunggak tiap-tiap setengah tahun. Apabila tamat tempohnya, bon-bon akan ditebus pada 100% nilai nominalberserta dengan faedah terakru sehingga tarikh matangnya iaitu 28 September 2007.

(b) Cukai tertundaKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Pada 1 Ogos 2000/1999 7,986 8,136 6,272 6,272Pindahan dari/(kepada) penyata pendapatan

(Nota 25) 1,589 (150) – –

Pada 31 Julai 9,575 7,986 6,272 6,272

Cukai tertunda sebanyak RM3,965,000 bagi penilaian semula sesetengah tanah dan bangunan tidak diperuntukkandalam penyata kewangan kerana para pengarah tidak mempunyai niat untuk menjual hartanah tersebut.


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19 LIABILITI JANGKA PANJANG (samb)(c) Pembayaran jangkapanjang adalah berhubung dengan hutang kepada pihak ketiga bagi baki pertimbangan belian tanah

untuk pembangunan seperti yang dinyatakan dalam Nota 7. Pembayaran hutang jangkapanjang mengikut syarat-syaratperjanjian belian dan jualan tanah adalah seperti berikut:

Kumpulan dan Syarikat

2001 2000

RM’000 RM’000

Pembayaraan jangkapanjang 141,124 –Jumlah perlu dibayar balik dalam 12 bulan (Nota 10) (47,041) –

Jumlah perlu dibayar balik selepas 12 bulan 94,083 –

Jumlah perlu dibayar:

Dalam satu tahun 47,041 –Di antara satu dan dua tahun 47,041 –Di antara dua dan lima tahun 47,042 –

141,124 –

(d) Peruntukan untuk ganjaran pesaraan pekerja adalah tidak berdana dan ditentukan berdasarkan jadual faedah sepertiyang dinyatakan di dalam polisi dan perjanjian Kumpulan.

Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Pada 1 Ogos 2000/1999 4,777 4,683 3,996 3,996Peruntukan bersih/(caj bagi tahun) (Nota 23) 288 94 (5) –

Pada 31 Julai 5,065 4,777 3,991 3,996

20 PEROLEHANPerolehan Kumpulan dan Syarikat terdiri daripada:

Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Kejuruteraan dan pembinaan 751,369 577,397 344,776 577,397Jualan hasil kuari 29,815 32,740 – –Pembangunan hartanah 5,924 – – –Jualan kertas 25,442 24,132 – –Jualan barang pembinaan 18,339 1,531 – –Lain-lain 394 1,688 – –

831,283 637,488 344,776 577,397


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21 LAIN-LAIN PENDAPATAN OPERASI Termasuk di dalam lain-lain pendapatan operasi adalah:

Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Yuran pengurusan diterima daripada sebuah syarikat subsidiari – – 450 475

Dividen diterima/akan diterima daripada – syarikat-syarikat subsidiari – – 1,250 2,225– pelaburan dalam sebuah syarikat bersekutu

(disenaraikan) – – 12,968 2,348Keuntungan dari jualan hartanah, loji dan peralatan 799 875 690 508Pemulihan hutang lapuk 300 347 – –Keuntungan tidak direalisasikan atas tukaran asing – 17 – –Pendapatan sewa

– subsidiari – – 289 271– lain-lain 117 72 96 24

22 KOS KAKITANGAN Termasuk di dalam kos kakitangan adalah:

Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Ganjaran pengarah* 4,176 3,437 3,934 3,198Peruntukan bersih/(pemulihan) untuk ganjaran

persaraan kakitangan 288 94 (5) –

* Ganjaran pengarah

Para pengarah Syarikat:

Eksekutif:

Gaji dan emolumen lain 4,065 3,332 3,823 3,093Lain-lain manfaat 363 238 342 234

4,428 3,570 4,165 3,327

Bukan Eksekutif:

Yuran 111 105 111 105Lain-lain manfaat 31 17 31 17

142 122 142 122

Jumlah 4,570 3,692 4,307 3,449

Jumlah tanpa lain-lain manfaat 4,176 3,437 3,934 3,198


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22 KOS KAKITANGAN (samb)Bilangan pengarah-pengarah Syarikat di mana jumlah ganjaran disepanjang tahun terangkum dalam lingkungan berikutadalah:

Bilangan Pengarah

2001 2000

Pengarah Eksekutif:

RM200,001 – RM250,000 – 1RM250,001 – RM300,000 1 –RM300,001 – RM350,000 – –RM350,001 – RM400,000 – –RM400,001 – RM450,000 – 4RM450,001 – RM500,000 4 –RM500,001 – RM550,000 4 1RM550,001 – RM600,000 – 2RM650,001 – RM700,000 1 –

10 8Pengarah bukan eksekutif:

RM1 – RM50,000 2 2RM50,001 – RM100,000 – –RM100,001 – RM150,000 1 1

3 3

Total 13 11


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23 LAIN-LAIN KOS OPERASITermasuk di dalam lain-lain kos operasi adalah:

Kumpulan Syarikat2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Ganjaran juruaudit 190 170 55 53Perlunasan muhibah dari penyatuan:

– Subsidiari 182 248 – –– Syarikat bersekutu 2,313 – – –

Peruntuan hutang ragu 138 263 – –Inventori dihapuskira 172 37 – –Kerugian tidak direalisasikan atas tukaran asing 20 – – –Sewa loji dan peralatan 5,962 13,109 1,250 8,205Sewa premis 1,496 1,401 530 816Peruntukan bersih/(pemulihan) untuk ganjaran

persaraan kakitangan 288 94 (5) –Peruntukan/(pemulihan) untuk penyusutan nilai

pelaburan dalam syer tersiarharga di Malaysia 535 (57) – –Aset tetap dihapuskira 680 747 45 150

24 KOS KEWANGANKos kewangan terdiri daripada perbelanjaan faedah.

25 CUKAIKumpulan Syarikat

2001 2000 2001 2000RM’000 RM’000 RM’000 RM’000

Peruntukan bagi tahun semasa 41,626 35,179 23,107 30,095Pindahan dari/(kepada) cukai tertunda (Nota 19(b)) 1,589 (150) – –Kekurangan/(lebihan) peruntukan bagi

tahun-tahun lepas 1,290 (323) 1,432 (556)

44,505 34,706 24,539 29,539

Kadar cukai berkesan Kumpulan adalah lebih tinggi daripada kadar cukai berkanun disebabkan terutamanya oleh kerugiansesetengah subsidiari yang tidak boleh diimbangi oleh keuntungan syarikat-syarikat lain di dalam Kumpulan memandangkanKumpulan tidak mempunyai pelepasan cukai.

Kadar cukai berkesan ke atas keuntungan Syarikat adalah lebih rendah daripada kadar cukai berkanun disebabkanterutamanya oleh dividen dikecualikan cukai yang diterima daripada subsidiari-subsidiari Syarikat. Pada 31 Julai 2001,Syarikat mempunyai keuntungan pengecualian cukai yang boleh diagihkan berjumlah kira-kira RM9,000 (2000:RM53,228,000) tertakluk kepada persetujuan dengan Lembaga Hasil Dalam Negeri.

Syarikat mempunyai kredit cukai yang mencukupi di bawah Seksyen 108,Akta Cukai Pendapatan, 1967 untuk membolehkanpembayaran dividen dibuat daripada keseluruhan keuntungan tertahannya pada 31 Julai 2001.


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26 DIVIDENKumpulan dan Syarikat

Jumlah Dividen sesyer

2001 2000 2001 2000

RM’000 RM’000 Sen Sen

Dividen interim dibayar sebanyak 4% dikecualikan cukai (2000: 4% dikecualikan cukai) 26,611 26,012 4 4

Dividen akhir dicadangkan sebanyak 4% selepas cukai (2000: 4% dikecualikan cukai) 19,163 26,608 3 4

Kekurangan peruntukan bagi dividen akhir dicadangkan pada tahun lepas – 730 – –

45,774 53,350

27 PENDAPATAN SESYERPendapatan asas setiap syer telah dikira dengan membahagikan keuntungan Kumpulan selepas cukai dan kepentinganminoriti sebanyak RM191,708,000 (2000: RM146,815,000) dengan bilangan purata wajaran syer dalam terbitan di sepanjangtahun sebanyak 665,240,000 (2000: 639,494,000).

Pendapatan sesyer yang dicairkan sepenuhnya telah dikira berdasarkan keuntungan Kumpulan selepas cukai dan kepentinganminoriti yang telah diselaraskan sebanyak RM191,708,000 (2000: RM146,815,000) dan berdasarkan bilangan syer sebanyak679,413,000 (2000: 665,567,000) yang telah atau akan diterbitkan pada akhir tahun.

Bilangan Purata

Keuntungan Bersih Wajaran Syer Pendapatan Sesyer

(RM’000) (dalam ribu) (sen)

2001 2000 2001 2000 2001 2000

Keuntungan bersih bagi tahun semasa 191,708 146,815 665,240 639,494

Pendapatan asas sesyer 29 23

Perlaksanaan “SOSP” diandaikan – – 4,628 –Perlaksanaan waran diandaikan – – 9,545 26,073

191,708 146,815 679,413 665,567

Pendapatan sesyer yang dicairkan 28 22

Bagi tahun kewangan berakhir 31 Julai 2000, Waran 2001/2007 telah dikecualikan daripada pengiraan pendapatan sesyeryang dicairkan sepenuhnya untuk syer biasa RM1 disebabkan penukaran waran tersebut ke syer-syer biasa adalahbertentangan dengan sifat pencairan.

Angka bandingan bagi pendapatan sesyer yang dicairkan sepenuhnya telah diselaraskan untuk mencerminkan bahawa kaedahpengiraan yang digunakan dalam tahun kewangan semasa adalah menurut Lembaga Piawaian Perakaunan Malaysia Piawaian13: Pendapatan Sesyer.


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28 PENGLIBATAN MODALKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Dilulus dan dikontrakkan 151,160 1,044 93 515

Termasuk dalam penglibatan modal adalah jumlah sebanyak RM150,499,000 yang berkaitan dengan pembelian tanah olehsebuah subsidiari Syarikat, Harum Intisari Sdn Bhd.

29 LIABILITI LUARJANGKA (TIDAK BERCAGAR)Kumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Jaminan yang diberi kepada pemiutang perdaganganuntuk kemudahan kredit yang diberikan kepadasebuah syarikat subsidiari – – 1,037 –

Jaminan “performance” dan jaminan wang tertahan 266,157 302,899 268,113 302,899

266,157 302,899 269,150 302,899

30 URUSNIAGA PENTING DENGAN PIHAK BERKAITANKumpulan Syarikat

2001 2000 2001 2000

RM’000 RM’000 RM’000 RM’000

Perkhidmatan kontrak untuk LingkaranTrans Kota Holdings Berhad, sebuah syarikat bersekutu (1,587) (32,100) (1,587) (32,100)

Perkhidmatan kontrak untuk Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd, sebuah syarikat bersekutu (163,064) (479,371) (163,064) (479,371)

Perkhidmatan kontrak untuk Syarikat PengeluarAir Sungai Selangor Sdn Bhd, sebuah syarikatbersekutu (133,560) – – –

Perkhidmatan kontrak oleh Sepakat Setia PerundingSdn Bhd, sebuah syarikat di mana salah seorangpengarah,Tan Sri Dato’ Ir Talha bin Haji MohdHashim mempunyai kepentingan 1,764 560 – –

Perkhidmatan kontrak oleh subsidiari – – 302,807 76,955Dividen kasar akan diterima daripada subsidiari – – (1,550) (2,435)Faedah akan dibayar kepada subsidiari – – 67 82Yuran pengurusan akan diterima daripada subsidiari – – (450) (475)Sewa diterima daripada subsidiari – – (337) (22)Faedah akan diterima daripada subsidiari – – (439) (459)Pindahan aset tetap daripada subsidiari – – 66 84Pindahan aset tetap kepada subsidiari – – 45 221

Para pengarah berpendapat bahawa urusniaga di atas telah dijalankan menurut pengurusan perniagaan yang normal danberdasarkan asas yang telah diperundingkan yang tidak banyak berbeza daripada yang diuruskan dengan pihak yang tidakberkaitan.


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31 PERISTIWA PENTINGDi sepanjang tahun kewangan,

(a) Syarikat telah memperolehi yang berikut di dalam Harum Intisari Sdn Bhd:

(i) 5,000,000 syer biasa bernilai RM1 setiap satu mewakili 100% modal syer diterbitkan dan dibayar penuh padajumlah pertimbangan sebanyak RM5,000,000 dan

(ii) 350,000 Syer Keutamaan Bolehtebus dengan premium RM99 setiap satu pada jumlah pertimbangan sebanyakRM35,000,000 mewakili sebahagian jumlah pertimbangan untuk memperoleh beberapa bidang tanah sepertidinyatakan dalam (c) di bawah.

(b) Syarikat telah menambah 33,000,000 syer biasa bernilai RM1 setiap satu di dalam Gabungan Cekap Sdn Bhd (“GCSB”)pada jumlah pertimbangan sebanyak RM33,000,000 untuk mengekalkan kepentingan berkesan sebanyak 30% di dalamGCSB.

(c) Subsidiari Syarikat, Harum Intisari Sdn Bhd telah menandatangani satu perjanjian untuk membeli beberapa bidang tanahseperti yang berikut pada jumlah pertimbangan sebanyak RM388,830,453:

(i) Tiga (3) bidang tanah milik bebas dengan ukuran kira-kira 572 ekar, berserta dengan bangunan yang dibina diatasnya dan struktur yang terdapat padanya, dipegang di bawah Geran 41193 Lot No. 72084, Geran 33009 Lot No.122 dan Geran 6631 Lot No. 3377 di dalam Mukim dan Daerah Klang, Selangor Darul Ehsan; dan

(ii) Dua (2) bidang tanah milik bebas dengan ukuran kira-kira 669 ekar, berserta dengan bangunan yang dibina diatasnya dan struktur yang terdapat padanya, dipegang di bawah Geran 24138 Lot No. 31, Geran 43531 Lot No.72086 di dalam Mukim dan Daerah Klang, Selangor Darul Ehsan.

(d) Subsidiari Syarikat, Ganaz Bina Sdn Bhd telah memperolehi kepentingan ekuiti tambahan sebanyak 30% di dalam G.B.Kuari Sdn Bhd pada jumlah pertimbangan sebanyak RM18,400,000. Berikutan dengan peningkatan dalam kepentinganekuiti tersebut, G.B. Kuari Sdn Bhd telah menjadi subsidiari yang dimiliki sepenuhnya oleh Ganaz Bina Sdn Bhd.

(e) Syarikat telah menerbitkan terbitan hak yang boleh dilepaskan sebanyak 166,297,668 waran baru pada harga terbitanRM0.61 untuk setiap waran baru dengan nisbah satu waran baru untuk setiap empat syer biasa yang sedia ada. Hargaperlaksanaan waran telah ditetapkan pada RM3.75.

(f) Syarikat telah menerbitkan RM400,000,000 nilai nominal 7 tahun, 3% Bon Bolehtebus Tidak Bercagar.

(g) Syarikat telah menandatangani satu perjanjian tambahan bertarikh 15 Januari 2001 untuk melanggan 135,000 syerkeutamaan tambahan bernilai RM1.00 setiap satu pada RM100 sesyer yang berjumlah RM13.5 juta di dalam SistemPenyuraian Trafik KL Barat Holdings Sdn Bhd dalam penyediaan untuk permulaan “Western Kuala Lumpur TrafficDispersal Scheme Package C”.

(h) Syarikat telah memperolehi 1,600,000 syer biasa bernilai RM1 setiap satu, mewakili 80% modal diterbitkan dan dibayarpenuh di Gamuda Water Sdn Bhd (dahulunya dikenali sebagai The Sweet Water Management Sdn Bhd) pada jumlahpertimbangan sebanyak RM71,600,000.

(i) Syarikat telah meningkatkan modal syer dibenarkan daripada RM1,000,000,000 terdiri daripada 1,000,000,000 syerbiasa bernilai RM1.00 setiap satu ke RM2,000,000,000 terdiri daripada 2,000,000,000 syer biasa bernilai RM1.00 setiapsatu.

(j) Modal syer diterbitkan dan dibayar penuh Syarikat telah meningkat daripada RM665,190,672 ke RM665,354,672menerusi terbitan 164,000 syer biasa baru bernilai RM1.00 setiap satu berikutan perlaksanaan Skim Opsyen SyerPekerja (154,000 dan 10,000 syer biasa baru masing-masing pada harga RM3.25 dan RM3.45). Syer-syer baru yangditerbitkan mempunyai taraf yang sama dalam semua hal dengan syer Syarikat yang sedia ada.


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32 PERISTIWA SUSULAN(a) Pada 6 Ogos 2001, Perjanjian Jualbeli di antara Syarikat dengan penjual untuk mengambilalih kepentingan ekuiti

sebanyak 80% dalam Gamuda Water Sdn Bhd telah diselesaikan sepenuhnya.

(b) Pada 26 September 2001, National Highway Authority dari India telah menerima tawaran bersama Syarikat dan WCTEngineering untuk mereka bentuk, membiayai, membina, mengendali dan menyelenggarakan satu projek lebuhraya diRM517 ke RM581.457, Seksyen Panagarh-Plasit di negeri Bengal Barat. Projek tersebut telah dianggarkan berjumlahRps. 5.0 billion (kira-kira RM420 juta).

33 ANALISA BERSEGMEN Keuntungan

sebelum Jumlah aset

Perolehan cukai digunakan

RM’000 RM’000 RM’000

Analisa menurut aktiviti:

2001

Syarikat dan subsidiari-subsidiarinya:

Kejuruteraan dan pembinaan 751,369 125,646 946,323Perkilangan, kuari dan lain-lain 73,990 18,712 167,373Pembangunan hartanah 5,924 (96) 370,199Bekalan air – (219) 75,084

831,283 144,043 1,558,979

Syarikat-syarikat bersekutu:

Lebuhraya 64,688 559,025Bekalan air 41,708 83,339Pembangunan hartanah 26,955 168,127Perkilangan, kuari dan lain-lain (1,359) 68,753

131,992 879,244

Jumlah 831,283 276,035 2,438,223

2000

Syarikat dan subsidiari-subsidiarinya:

Kejuruteraan dan pembinaan 577,397 109,898 372,387Perkilangan, kuari dan lain-lain 60,091 16,783 168,411Pembangunan hartanah – – 103,356

637,488 126,681 644,154

33 ANALISA BERSEGMEN (samb)Keuntungan

sebelum Jumlah aset

Perolehan cukai digunakan

RM’000 RM’000 RM’000

Analisa menurut aktiviti:

2000

Syarikat-syarikat bersekutu:

Lebuhraya 53,963 514,486Bekalan air 8,476 21,044Pembangunan hartanah 17,247 155,844Perkilangan, kuari dan lain-lain (305) 70,110

79,381 761,484

Jumlah 637,488 206,062 1,405,638

Kesemua aktiviti-aktiviti Kumpulan adalah dijalankan di dalam Malaysia.

Para pengarah berpendapat bahawa segala urusniaga di antara segmen di atas telah dijalankan menurut pengurusanperniagaan yang normal dan berdasarkan syarat-syarat yang tidak banyak berbeza daripada yang diuruskan dengan pihakyang tidak berkaitan.

34 ANGKA BANDINGANAngka bandingan tertentu telah dikelaskan semula supaya menurut pembentangan tahun semasa.

35 MATAWANG Semua jumlah adalah dinyatakan di dalam Ringgit Malaysia kecuali jika dinyatakan sebaliknya.


170

SENARAI HARTANAH UTAMA YANG DIMILIKI pada 31 Julai 2001

171

Anggaran

Tempoh Nilai buku usia

Lokasi Pegangan Kawasan Keterangan tamat bersih bangunan

No. 36/38, Jalan SS21/62 Bebas 1,078 m per 2 blok rumah kedai/ – 1,110,000 1347400 Petaling Jaya, pejabat 4 tingkatSelangor

No. 30, Jalan SS2/44 Bebas 501 m per Banglo/kuarters – 358,000 2147300 Petaling Jaya, kakitanganSelangor

No. 39, Jalan SS22/23 Bebas 499 m per Rumah kedai/pejabat – 613,400 1347400 Petaling Jaya, 4 tingkatSelangor

No. 55-61, Jalan SS22/23 Bebas 1,996 m per 4 blok rumah kedai/ – 904,908 1647400 Petaling Jaya, pejabat 4 tingkat 904,908Selangor 1,272,703

1,053,472

Lot 6, Jalan U1/17, Bebas 3.527 ekar Estet perindustrian/ – 7,183,034 11Seksyen U1 kilang/pejabat40000 Shah Alam,Selangor

No. 152, Jalan Gopeng Berpajak 164 m per Rumah kedai/pejabat 2078 212,350 2131350 Ipoh, Perak 3 tingkat

No. 158, Jalan Gopeng Berpajak 163 m per Rumah kedai/pejabat 2078 237,000 2131350 Ipoh, Perak 3 tingkat

PT 51683, Jalan Jelapang Berpajak 4,353 m per Estet perindustrian/ 2043 487,855 1730020 Ipoh, Perak bengkel

PT 183485 Berpajak 12,144 m per Estet perindustrian/stor 2050 762,261 11Meru Industrial EstateJelapang, 30020 IpohPerak

PT 195821, 195822, Berpajak 45 hektar Bukit granit, bukit 2022 10,187,175 –195823, 195824, 195825, batu kapur dan tanah195826,195827, 46482, perindustrian/kuari57417, kesemuanya di Mukim KamparDaerah Kinta31350 Ipoh, Perak

HS (D) 54871, Bebas 16,898 kaki per Estet perindustrian/ – 8,097,391 –PT No. 56274 bengkelMukim & Daerah KelangSelangor

HS (D) 52621, Bebas 42,217 kaki per Tanah komersial – 9,104,000 –PT No. 53932Mukim & Daerah KelangSelangor

MAKLUMAT LAIN

172

YURAN BUKAN AUDIT DIBAYAR KEPADA JURUAUDIT LUARSyarikat dan syarikat-syarikat subsidiarinya tidak membayar sebarang yuran bukan audit kepada Arthur Andersen & Co.(juruaudit luar), pada tahun kewangan berakhir 31 Julai 2001.

DASAR PENILAIAN SEMULA KE ATAS HARTANAHKumpulan tidak mengamalkan suatu dasar penilaian semula yang kerap.

BELIAN BALIK SAHAM Pada tahun kewangan berakhir 31 Julai 2001, Syarikat tidak membeli balik mana-mana saham sendiri.

OPSYEN SAHAM KAKITANGAN DAN WARAN Selain daripada pelaksanaan opsyen menurut Skim Opsyen Saham Kakitangan, yang mana jumlah dinyatakan dalam Nota 18kepada Penyata Kewangan, tiada sebarang pelaksanaan opsyen lain atau sebarang pelaksanaan waran pada tahun kewanganberakhir 31 Julai 2001.

KONTRAK PENTING MELIBATKAN PARA PENGARAH DAN PARA PEMEGANG SAHAM UTAMASelain daripada yang dinyatakan dalam Nota 30 kepada Penyata Kewangan, tiada sebarang kontrak penting yang dimeterai olehSyarikat dan syarikat-syarikat subsidiarinya yang melibatkan para Pengarah dan para pemegang saham utama.

SEKATAN DAN/ATAU PENALTI YANG DIKENAKANSejak akhir tahun kewangan lepas, tiada sebarang sekatan dan/atau penalti telah dikenakan ke atas Syarikat dan syarikat-syarikatsubsidiarinya, para Pengarah atau pengurusan oleh pihak berkuasa berkaitan.

PROGRAM AMERICAN DEPOSITORY RECEIPT (ADR) ATAU GLOBAL DEPOSITORY RECEIPT (GDR)Syarikat tidak menaja sebarang program ADR atau GDR.

STATUS PENGGUNAAN BONBerikut adalah penggunaan kutipan daripada Bon Tidak Bercagar Boleh Tebus 3% 2000/2007 pada 31 Julai 2001:

JumlahButir-butir aktiviti Diluluskan Digunakan

RM'000 RM'000

Pembayaran balik pinjaman 115,000 –Pembelian tanah 60,000 60,000Modal kerja 70,700 70,700Perbelanjaan Terbitan Bon 4,300 4,300Pelaburan dalam Gabungan Cekap Sdn Bhd 150,000 48,000(Syarikat induk SPLASH)

Jumlah 400,000 183,000

ANALISIS PEGANGAN SAHAM pada 26 November 2001

173

Modal Dibenarkan : RM2,000,000,000.00Diterbitan dan Dibayar Penuh : RM665,928,672.00Kelas Saham : Saham Biasa bernilai RM1.00 sesahamHak Mengundi : 1 undi bagi setiap pemegang saham dengan cara mengangkat tangan

1 undi bagi setiap saham biasa dengan cara polBil. Pemegang Saham : 12,624

Bil. Bil.

Saiz pegangan saham pemegang saham saham biasa %

1 – 999 330 53,989 0.011,000 – 10,000 10,428 28,397,870 4.2610,001 – 100,000 1,341 44,402,610 6.67100,001 – 33,296,433 522 417,115,819 62.6433,296,434 dan ke atas 3 175,958,384 26.42

Jumlah 12,624 665,928,672 100.00

PARA PEMEGANG SAHAM UTAMA Seperti yang ditunjukkan di dalam Daftar Pemegang-Pemegang Saham Utama

Bil. saham di mana Bil. saham di mana

para pemegang saham para pemegang saham

utama mempunyai utama dianggap

Nama pemegang saham utama kepentingan langsung mempunyai kepentingan %

Generasi Setia (M) Sdn Bhd 92,486,928 (a) – 13.89Raja Dato’ Seri Eleena Azlan Shah – 92,486,928 (b) 13.89Dato’ Lin Yun Ling 56,848,818 (c) – 8.54Employees Provident Fund Board 55,189,250 (d) – 8.29

(a) Termasuk saham yang dipegang melalui syarikat nomini.(b) Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd.(c) Termasuk saham yang dipegang melalui syarikat nomini.(d) Termasuk saham yang dipegang melalui syarikat-syarikat nomini.

ANALISIS PEGANGAN SAHAM/WARAN pada 26 November 2001

174

KEPENTINGAN PARA PENGARAHSeperti yang ditunjukkan di dalam Daftar Pegangan Saham Pengarah-pengarah

Selain daripada yang dibentangkan di bawah, tiada Pengarah lain Syarikat yang mempunyai kepentingan secara langsung ataudianggap mempunyai kepentingan dalam Syarikat dan syarikat berkaitannya:

Kepentingan dalam SyarikatDianggap

mempunyai

Nama Pengarah Langsung % kepentingan %

Bilangan Saham Biasa Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim 525,828 0.08 – –Dato’ Lin Yun Ling 56,848,818^ 8.54 – –Raja Dato’ Seri Eleena Azlan Shah – – 92,486,928* 13.89Dato’ Ir Kamarul Zaman bin Mohd Ali 1,188,000 0.18 – –Ng Kee Leen 14,516,114# 2.18 – –Goon Heng Wah 11,471,158@ 1.72 – –Ha Tiing Tai 13,207,938 1.98 – –Saw Wah Theng 100,000∞ 0.02 – –Azmi Mat Nor 10,000 0.00 – –Chow Chee Wah 2,000 0.00 – –

^ Termasuk saham biasa yang dipegang melalui syarikat nomini.* Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd.

Termasuk saham biasa yang dipegang oleh Generasi Setia (M) Sdn Bhd melalui syarikat nomini.# Termasuk saham biasa yang dipegang melalui syarikat nomini.@ Termasuk saham biasa yang dipegang melalui syarikat-syarikat nomini.∞ Dipegang melalui syarikat nomini.

Bilangan Waran 1996/2006Dato’ Lin Yun Ling 8,053,442^^ 10.51 – –Raja Dato’ Seri Eleena Azlan Shah – – 13,724,000** 17.90Dato’ Ir Kamarul Zaman bin Mohd Ali 172,000 0.22 – –Ng Kee Leen 2,288,000 2.98 – –Goon Heng Wah 1,788,158 2.33 – –Ha Tiing Tai 1,704,000 2.22 – -

^^ Termasuk Waran 1996/2006 yang dipegang melalui syarikat nomini.** Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd.

Bilangan Waran 2001/2007Dato’ Lin Yun Ling 12,240,551 7.36 – –Raja Dato’ Seri Eleena Azlan Shah – – 23,122,000*** 13.90Dato’ Ir Kamarul Zaman bin Mohd Ali 331,500 0.20 – –Ng Kee Leen 4,308,335 2.59 – –Goon Heng Wah 2,996,000 1.80 – –Ha Tiing Tai 3,477,000 2.09 – –Saw Wah Theng 96,000 0.06 – -

*** Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd.Termasuk Waran 2001/2007 yang dipegang oleh Generasi Setia (M) Sdn Bhd melalui syarikat nomini.


175

KEPENTINGAN PARA PENGARAH (samb)Seperti yang ditunjukkan di dalam Daftar Pegangan Saham Pengarah-pengarah

Skim Opsyen Saham Kakitangan

Bil. saham

Harga opsyen opsyen

Nama Pengarah RM ‘000

Dato’ Lin Yun Ling 3.25 500Dato’ Ir Kamarul Zaman bin Mohd Ali 3.25 500Ng Kee Leen 3.25 500Goon Heng Wah 3.25 500Ha Tiing Tai 3.25 500Saw Wah Theng 3.25 500Chow Chee Wah 3.25 450

30 PEMEGANG SAHAM TERBESARMengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama)

Bil. Nama pemegang saham Pegangan saham %

1 Generasi Setia (M) Sdn Bhd 82,986,928 12.462 Dato’ Lin Yun Ling 48,962,206 7.353 Employees Provident Fund Board 44,009,250 6.614 Ha Tiing Tai 12,707,938 1.915 Ng Kee Leen 11,136,114 1.676 Malaysia Nominees (Tempatan) Sendirian Berhad 10,609,000 1.59

– Great Eastern Life Assurance (Malaysia) Berhad (MLF)7 Sukma Sinaran Sdn Bhd 10,102,000 1.528 PAB Nominee (Tempatan) Sdn Bhd 9,500,000 1.43

– Akaun Sekuriti Dicagarkan bagi Generasi Setia (M) Sdn Bhd9 EB Nominees (Tempatan) Sendirian Berhad 8,138,300 1.22

– Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang10 Citicorp Nominees (Asing) Sdn Bhd 7,811,250 1.17

– CBHK PBGSGP bagi Keyport Limited11 EB Nominees (Tempatan) Sendirian Berhad 7,402,052 1.11

– Akaun Sekuriti Dicagarkan bagi Shang Yong @ Chung Koon Yee12 Goon Heng Wah 7,071,158 1.0613 Amanah Raya Nominees (Tempatan) Sdn Bhd 6,264,000 0.94

– Amanah Saham Malaysia14 EB Nominees (Tempatan) Sendirian Berhad 6,000,000 0.90

– Akaun Sekuriti Dicagarkan bagi Chan Yong Foo @ Chan Kuan Nam15 Amanah Raya Nominees (Tempatan) Sdn Bhd 5,777,000 0.87

– Kuala Lumpur Growth Fund16 Raja Nazrin Shah 5,300,000 0.8017 Khazanah Nasional Berhad 4,840,000 0.7318 Nik Anida Binti Nik Manshor 4,671,000 0.7019 HLG Nominee (Tempatan) Sdn Bhd 4,586,000 0.69

– PB Trustee Services Berhad bagi HLB Growth Fund


176

30 PEMEGANG SAHAM TERBESAR (samb)Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama)

Bil. Nama pemegang saham Pegangan saham %

20 Cartaban Nominees (Asing) Sdn Bhd 4,006,000 0.60– SSBT Fund P001 bagi Morgan Stanley Dean Witter InvestmentManagement Emerging Markets Trust

21 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 3,704,000 0.56– Arab-Malaysian Trustee Bhd bagi BHLB Pacific Dana Al-Ihsan

22 Chan Yong Foo @ Chan Kuan Nam 3,484,462 0.5223 Lembaga Tabung Haji 3,400,000 0.5124 Mayban Nominees (Tempatan) Sdn Bhd 3,344,850 0.50

– Akaun Sekuriti Dicagarkan bagi Shang Yong @ Chung Koon Yee25 Amanah Raya Nominees (Tempatan) Sdn Bhd 3,298,000 0.50


– Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang27 HSBC Nominees (Asing) Sdn Bhd 3,209,000 0.48

– Stichting Pensioenfonds ABP28 DB (Malaysia) Nominee (Asing) Sdn Bhd 3,200,000 0.48

– DBSPN bagi Prudential Assurance Company Singapore (Pte) Limited (Prulink Fund)29 Malaysia Nominees (Tempatan) Sendirian Berhad 3,175,000 0.48

– Great Eastern Life Assurance (Malaysia) Berhad (MLF2)30 Mayban Nominees (Tempatan) Sdn Bhd 3,127,000 0.47

– Mayban Trustees Berhad bagi Kuala Lumpur Regular Savings Fund

Jumlah 335,062,508 50.32

ANALISIS PEGANGAN WARAN pada 26 November 2001

177

PEGANGAN WARAN 1996/2006Bil.Waran Yang Belum Dilaksanakan : 76,650,642Tempoh Pelaksanaan : 30/12/1996 – 29/12/2006Hak Pelaksanaan : Setiap Waran memberi hak kepada pemegangnya untuk melanggan satu (1)

saham biasa baru bernilai RM1.00 dalam Syarikat pada bila-bila masa sepanjangTempoh Pelaksanaan.

Bil. pemegang Bil.Waran

Waran 1996/2006

Saiz pegangan 1996/2006 dipegang %

1 – 999 107 25,948 0.031,000 – 10,000 2,483 7,727,958 10.0810,001 – 100,000 345 9,405,626 12.27100,001 – 3,832,532 51 30,368,368 39.633,832,533 dan ke atas 4 29,122,742 37.99

Jumlah 2,990 76,650,642 100.00

30 PEMEGANG WARAN 1996/2006 TERBESARMengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama)

Bil.Waran

1996/2006

Bil. Nama pemegang Waran 1996/2006 dipegang %

1 Generasi Setia (M) Sdn Bhd 13,724,000 17.902 Dato’ Lin Yun Ling 6,453,410 8.423 Malaysia National Insurance Berhad 4,988,000 6.514 Chan Yong Foo @ Chan Kuan Nam 3,957,332 5.165 Heng Teng Kuang 3,553,076 4.646 Shang Yong @ Chung Koon Yee 2,500,320 3.267 Ng Kee Leen 2,288,000 2.988 Universal Trustee (Malaysia) Berhad 1,975,000 2.58

– SBB Premium Capital Fund9 Goon Heng Wah 1,788,158 2.3310 Ha Tiing Tai 1,704,000 2.2211 Citicorp Nominees (Asing) Sdn Bhd 1,574,832 2.05

– CBHK PBGSGP bagi Keyport Limited12 Takaful Nasional Sdn Berhad 1,244,000 1.6213 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,148,000 1.50

– Arab-Malaysian Trustee Bhd bagi HLB Penny Stock Fund (5/4-3)14 HDM Nominees (Tempatan) Sdn Bhd 1,110,000 1.45

– HDM Venture Capital Sdn Bhd bagi Tiang Ming Sing15 RHB Nominees (Tempatan) Sdn Bhd 963,056 1.26

– Akaun Sekuriti Dicagarkan bagi Chan Kok Wah16 Leong Mun Meng 833,000 1.0917 Southern Nominees (Tempatan) Sdn Bhd 602,000 0.79

– Southern Bank Berhad18 Lee Muk Siong 580,000 0.7619 Universal Trustee (Malaysia) Berhad 487,388 0.64

– BHLB Pacific Emerging Companies Growth Fund20 Citicorp Nominees (Asing) Sdn Bhd 457,666 0.60

– CBHK PBGSGP bagi Su Zhou Investments Ltd


178

30 PEMEGANG WARAN 1996/2006 TERBESAR (samb)Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama).

Bil.Waran

1996/2006


21 Omega Nominees (Tempatan) Sdn Bhd– Akaun Sekuriti Dicagarkan bagi Tan Kai Ann @ T Teck Chuan 420,000 0.55

22 Wong Kok Hou 416,000 0.5423 BHLB Trustee Berhad 400,000 0.52

– TA Comet Fund24 BHLB Trustee Berhad 373,000 0.49

– TA Balanced Fund25 Amanah Raya Berhad 342,000 0.45

– Dana Al-Aiman26 Hong Chin Chai 300,000 0.3927 Lim Thin Peng 294,000 0.3828 Lim Thin Peng 282,000 0.3729 Ong Boon Kheng 281,998 0.3730 Mayban Nominees (Tempatan) Sdn Bhd 250,000 0.33

– Mayban Trustees Berhad bagi Amanah Saham PAB

Jumlah 55,290,236 72.15

PEGANGAN WARAN 2001/2007Bil. Waran Yang Diterbitkan : 166,297,668Tempoh Pelaksanaan : 22/2/2001 – 21/8/2007 Hak Pelaksanaan : Setiap Waran memberi hak kepada pemegangnya untuk melanggan satu (1)

saham biasa baru bernilai RM1.00 dalam Syarikat pada bila-bila masa sepanjangTempoh Pelaksanaan.

Bil. pemegang Bil.Waran

Waran 2001/2007

Saiz pegangan 2001/2007 dipegang %

1 – 999 475 200,629 0.121,000 – 10,000 5,391 13,973,949 8.4010,001 – 100,000 735 23,545,253 14.16100,001 – 8,314,883 150 82,201,224 49.438,314,884 dan ke atas 3 46,376,613 27.89

Jumlah 6,754 166,297,668 100.00

30 PEMEGANG WARAN 2001/2007 TERBESARMengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama).

Bil.Waran

2001/2007


1 Generasi Setia (M) Sdn Bhd 20,747,000 12.482 Employees Provident Fund Board 13,389,062 8.053 Dato’ Lin Yun Ling 12,240,551 7.36


179

30 PEMEGANG WARAN 2001/2007 TERBESAR (samb)Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama).

Bil.Waran

2001/2007


4 Malaysia Nominees (Tempatan) Sendirian Berhad 3,637,000 2.19– Great Eastern Life Assurance (Malaysia) Berhad (MLF)

5 Chan Yong Foo @ Chan Kuan Nam 3,564,000 2.146 Ha Tiing Tai 3,177,000 1.917 Citicorp Nominees (Asing) Sdn Bhd 2,952,812 1.78

– CBHK PBGSGP bagi Keyport Limited8 Ng Kee Leen 2,835,000 1.709 Sukma Sinaran Sdn Bhd 2,661,000 1.6010 EB Nominees (Tempatan) Sendirian Berhad 2,535,000 1.52

– Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang11 PAB Nominee (Tempatan) Sdn Bhd 2,375,000 1.43

– Akaun Sekuriti Dicagarkan bagi Generasi Setia (M) Sdn Bhd12 EB Nominees (Tempatan) Sendirian Berhad 1,852,000 1.11

– Akaun Sekuriti Dicagarkan bagi Shang Yong @ Chung Koon Yee13 Goon Heng Wah 1,703,000 1.0214 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,637,000 0.98


– Mayban Trustees Berhad bagi Phileo Equityextra Fund16 Arab-Malaysian Finance Berhad 1,400,000 0.84

– Akaun Sekuriti Dicagarkan bagi Ng Leong Huat17 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,396,000 0.84

– Kuala Lumpur Equity Fund18 Mayban Nominees (Tempatan) Sdn Bhd 1,377,000 0.83

– Mayban Trustees Berhad bagi Kuala Lumpur Aggressive Growth Fund19 Goon Heng Wah 1,293,000 0.7820 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,288,000 0.77

– Kuala Lumpur Growth Fund21 EB Nominees (Tempatan) Sendirian Berhad 1,250,000 0.75

– Akaun Sekuriti Dicagarkan bagi Chan Kok Wah22 Ng Kee Leen 1,238,335 0.7423 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,159,999 0.70

– Arab-Malaysian Trustee Bhd bagi HLB Penny Stock Fund (5/4-3)24 HDM Nominees (Asing) Sdn Bhd 1,156,000 0.70

– DBS Vickers Secs (S) Pte Ltd bagi Mak Wai Nam25 CIMB Securities Sdn Bhd 1,060,000 0.64

– IVT bagi Company 626 Malaysia Nominees (Tempatan) Sendirian Berhad 1,049,000 0.63

– Great Eastern Life Assurance (Malaysia) Berhad (MLF2)27 HSBC Nominees (Asing) Sdn Bhd 864,000 0.52

– HSBCIT HK bagi JF Malaysia Fund28 HSBC Nominees (Asing) Sdn Bhd 864,000 0.52

– BNY Brussels bagi JF Asean Fund29 Mayban Nominees (Tempatan) Sdn Bhd 837,000 0.50

– Akaun Sekuriti Dicagarkan bagi Shang Yong @ Chung Koon Yee30 Mayban Nominees (Tempatan) Sdn Bhd 816,000 0.49

– Mayban Trustees Berhad bagi Kuala Lumpur Regular Savings Fund

Jumlah 93,820,259 56.40

PROXY FORM

I/We

of

being a member of Gamuda Berhad, hereby appoint

of

or failing him/her, the Chairman of the Meeting* as my/our proxy to vote for me/us on my/our behalf at theTwenty-Fifth Annual General Meeting of the Company to be held at the Ballroom of Kota Permai Golf &Country Club, No. 1, Jalan 31/100A, Section 31, Kota Kemuning, 40460 Shah Alam, Selangor Darul Ehsan onMonday, 14 January 2002 at 10.00 am and at any adjournment thereof.

Resolution For Against

1 Adoption of Financial Statements and Reports for the year ended 31 July 2001

2 Declaration of final dividend

3 Approval of Directors’ fees

4 Re-election of Y Bhg Dato’ Lin Yun Ling as Director

5 Re-election of Y A M Raja Dato’ Seri Eleena Azlan Shah as Director

6 Re-election of Mr Ng Kee Leen as Director

7 Re-election of Mr Saw Wah Theng as Director

8 Re-election of Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi as Director

9 Re-election of Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim as Director

10 Re-election of Y Bhg Datuk Ab Rahman bin Omar as Director

11 Re-election of Tuan Haji Azmi Mat Nor as Director

12 Re-appointment of Messrs Arthur Andersen & Co as Auditors

13 Authority to Directors to issue shares pursuant to Section 132D of the Companies Act, 1965

Please indicate with an "X" or “√” in the boxes provided above how you wish your vote to be cast. If this formis returned without any indication as to how the proxy shall vote, the proxy shall vote or abstain as he/shethinks fit.

Signed this day of 2001/2002

No. of ordinary shares held Signature/Common seal of Shareholder

* Delete the words “or failing him/her, the Chairman of the Meeting” if you wish to appoint some other person(s) to be your proxy.

Notes

1 A member of the Company entitled to attend and vote at the Meeting is entitled to appoint a proxy or not more than two proxies to attend and vote

in his/her stead. A proxy need not be a member of the Company.

2 Where a member appoints two proxies, the appointments shall be invalid unless he/she specifies the proportions of his/her holdings to be represented

by each proxy.

3 The Proxy Form must be signed by the appointer or his attorney duly authorised in writing or in the case of a corporation, executed under its common

seal or attorney duly authorised in that behalf.

4 If no name is inserted in the space provided for the name of your proxy, the Chairman of the Meeting will act as your proxy.

5 The Proxy Form must be deposited at the Registered Office of the Company situated at No. 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya,

Selangor Darul Ehsan not less than forty-eight (48) hours before the time fixed for holding the Meeting or any adjournment thereof.

Registered OfficeGamuda Berhad

55-61, Jalan SS22/23, Damansara Jaya 47400 Petaling Jaya, Selangor Darul EhsanMalaysia

stamp

fold here

fold here

BORANG PROKSI

Saya/Kami

beralamat

sebagai ahli Gamuda Berhad dengan ini melantik

beralamat

atau jika beliau tidak hadir, Pengerusi Mesyuarat* sebagai proksi saya/kami untuk mengundi bagi pihak saya/kami diMesyuarat Agung Tahunan Kedua Puluh Lima yang akan diadakan di Ballroom, Kota Permai Golf & Country Club, No.1, Jalan 31/100A, Sekysen 31, Kota Kemuning, 40460 Shah Alam, Selangor Darul Ehsan pada hari Isnin, 14 Januari2002, jam 10.00 pagi dan pada sebarang penangguhannya.

Resolusi Menyokong Menentang

1 Penerimaan Penyata Kewangan dan Laporan bagi tahun berakhir 31 Julai 2001

2 Pengisytiharan dividen akhir

3 Meluluskan yuran para Pengarah

4 Pemilihan semula Y Bhg Dato’ Lin Yun Ling sebagai Pengarah

5 Pemilihan semula Y A M Raja Dato’ Seri Eleena Azlan Shah sebagai Pengarah

6 Pemilihan semula Encik Ng Kee Leen sebagai Pengarah

7 Pemilihan semula Encik Saw Wah Teng sebagai Pengarah

8 Pemilihan semula Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi sebagai Pengarah

9 Pemilihan semula Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim sebagai Pengarah

10 Pemilihan semula Y Bhg Datuk Ab Rahman bin Omar sebagai Pengarah

11 Pemilihan semula Tuan Haji Azmi Mat Nor sebagai Pengarah

12 Perlantikan semula Tetuan Arthur Andersen & Co sebagai Juruaudit

13 Kuasa kepada para Pengarah untuk menerbitkan saham selaras dengan Seksyen 132D Akta Syarikat, 1965

Sila tandakan “X” atau “√” dalam kotak-kotak yang disediakan di atas mengenai cara bagaimana undian anda ingindilakukan. Sekiranya borang ini dikembalikan tanpa apa-apa penentuan mengenai cara pengundian, proksi tersebutakan mengundi atau mengecualikan diri daripada mengundi mengikut pertimbangan beliau.

Bertarikh pada haribulan 2001/2002

Bilangan saham biasa dipegang Tandatangan/Meterai rasmi Pemegang Saham

* Sila potong perkataan “atau jika beliau tidak hadir, Pengerusi Mesyuarat” jika anda ingin melantik sesiapa sebagai proksi anda.

Nota-nota

1 Seseorang ahli Syarikat yang layak untuk hadir dan mengundi pada Mesyuarat adalah layak untuk melantik seorang proksi atau tidak melebihi dua proksi

untuk hadir dan mengundi bagi pihaknya. Proksi tidak semestinya ahli Syarikat.

2 Apabila seseorang ahli melantik dua proksi, perlantikan tersebut akan menjadi tidak sah kecuali nisbah pemegangan beliau yang akan diwakili oleh setiap

proksi dinyatakan.

3 Borang Proksi perlu ditandatangani oleh pelantik atau peguamnya yang telah diberi kuasa secara bertulis atau jika perbadanan, disempurnakan di bawah

meterai rasminya atau peguamnya yang telah diberi kuasa bagi pihaknya.

4 Jika tiada nama dimasukkan di dalam ruang yang disediakan untuk nama proksi anda, Pengerusi Mesyuarat akan menjadi proksi anda.

5 Borang Proksi perlu dihantar ke Pejabat Berdaftar Syarikat yang terletak di No 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor Darul

Ehsan tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang telah ditetapkan untuk mengadakan Mesyuarat atau pada sebarang

penangguhannya.

Pejabat BerdaftarGamuda Berhad

55-61, Jalan SS22/23, Damansara Jaya 47400 Petaling Jaya, Selangor Darul EhsanMalaysia

setem

lipat sini

lipat sini

CONTENTS KANDUNGAN

2 Corporate Milestones Mercutanda Korporat

4 Group Awards & AchievementsAnugerah & Pencapaian Kumpulan

8 Notice of Annual General MeetingNotis Mesyuarat Agung Tahunan

11 Statement Accompanying Notice of AnnualGeneral MeetingPenyata Berserta Notis Mesyuarat Agung Tahunan

12 5 Years’ Financial HighlightsMaklumat Penting Kewangan 5 Tahun

13 Corporate Structure Struktur Korporat

14 Corporate Directory Panduan Korporat

16 Corporate Information Maklumat Korporat

17 Board of Directors Lembaga Pengarah

19 Profile of Directors Profil Para Pengarah

30 Audit Committee Report Laporan Jawatankuasa Audit

33 Directors’ Statement on Corporate GovernancePenyata Para Pengarah Mengenai Tadbir Urus Korporat

42 Chairman’s Statement Penyata Pengerusi

44 Review of Operations Tinjauan Operasi

56 Gamuda Corporate Events 2001Acara Korporat Gamuda 2001

58 Group Community Events 2001Acara Kemasyarakatan Kumpulan 2001

60 Statement of Directors’ Responsibility forPreparing the Financial StatementsPenyata Tanggungjawab Para Pengarah untukMenyediakan Penyata Kewangan

61 Financial Statements121 Penyata Kewangan

111 List of Major Properties Held171 Senarai Hartanah Utama yang Dimiliki

112 Other Information172 Maklumat Lain

113 Analysis of Share/Warrant Holdings173 Analisis Pegangan Saham/Waran

Form of Proxy Borang Proksi

SPRINT Highway’s Kerinchi Link Kerinchi Link di Lebuhraya SPRINT

2 CORPORATE MILESTONES MERCUTANDA KORPORAT

6 October 1976

1981

1982

1985

1991

1992

1993

1993

1994

1995

1995

Gamuda Sdn Bhd founded in Ipoh, PerakGamuda Sdn Bhd diasaskan di Ipoh, Perak

Present Directors of Gamuda take over operations of the companyPara Pengarah Gamuda sekarang mengambil alih operasi syarikat

Present Directors of Gamuda take control of the company in a management buyout and moveoperations to the Klang ValleyPara Pengarah Gamuda sekarang mengambil alih kawalan syarikat dalam satu langkahpengambilalihan pengurusan dan memindahkan operasinya ke Lembah Klang

Gamuda obtains Class “A” Contractor License Gamuda memperolehi Lesen Kontrakor Kelas “A”

Gamuda Sdn Bhd changes name to Gamuda Berhad (Gamuda)Gamuda Sdn Bhd menukar namanya kepada Gamuda Berhad (Gamuda)

Gamuda listed on the main board of the Kuala Lumpur Stock Exchange (KLSE)Gamuda disenaraikan di papan utama Bursa Saham Kuala Lumpur (BSKL)

Gamuda goes into manufacturing of non-carbon required (NCR) paper and establishes GamudaPaper Industries (GPI)Gamuda menceburi ke dalam pengilangan kertas tidak memerlukan karbon (NCR) danGamuda Paper Industries (GPI) ditubuhkan

Gamuda, a partner in the consortium company KESAS Sdn Bhd, signs concession agreement with TheGovernment of Malaysia to construct, operate, maintain and manage the Shah Alam Expressway for28 years and nine monthsGamuda, salah satu rakan kongsi dalam syarikat konsortium KESAS Sdn Bhd, menandatangaiperjanjian konsesi dengan Kerajaan Malaysia untuk membina, mengendali, menyenggara dan mengurusLebuhraya Shah Alam untuk tempoh 28 tahun dan sembilan bulan

Gamuda acquires first landbank and ventures into property development with purchase of LadangBukit Kemuning at Shah Alam, SelangorGamuda membeli simpanan tanahnya yang pertama dan menerokai ke dalampembangunan hartanah dengan pembelian Ladang Bukit Kemuning di Shah Alam, Selangor

Kota Kemuning township launched to the public Perbandaran Kota Kemuning dilancarkan kepada orang ramai

Employees Share Option Scheme (ESOS) introduced to employeesSkim Opsyen Saham Kakitangan (ESOS) diperkenalkan kepada kakitangan

CORPORATE MILESTONES MERCUTANDA KORPORAT 3

1996

1996

1997

1997

1998

1999

2000

2000

October 2001

November 2001

LITRAK signs a 33-year concession for the privatisation of the LDP with The Government of MalaysiaLITRAK menandatangani konsesi 33 tahun bagi projek penswastaan LDP dengan Kerajaan Malaysia

A Scholarship Awards programme for outstanding students pursuing undergraduate studies at localand foreign institutions implementedProgram Anugerah Biasiswa untuk penuntut yang melanjutkan pelajaran di peringkat ijazah pertama diinstitusi pengajian tinggi tempatan dan luar negeri

Gamuda obtains MS ISO 9002 accreditation from SIRIM for Building & Civil Engineering systemsGamuda memperolehi akreditasi MS ISO 9002 daripada SIRIM bagi sistem Bangunan & KejuruteraanAwam

SPRINT signs concession agreement with The Government of Malaysia to improve, upgrade, design,construct, maintain, operate and manage SPRINT HighwaySPRINT menandatangani perjanjian konsesi dengan Kerajaan Malaysia untuk mempertingkat, menaiktaraf, merekabentuk, membina, menyenggara, mengendali dan mengurus Lebuhraya SPRINT

Kota Permai Golf & Country Club at Kota Kemuning, Shah Alam opensKota Permai Golf & Country Club di Kota Kemuning, Shah Alam dibuka

Gamuda signs MOU with the Association of Builders Malaysia (ABM) to upgrade constructionindustry practicesGamuda menandatangani MOU dengan Persatuan Syarikat Pembinaan Malaysia (ABM) untukmemperbaiki amalan dalam industri pembinaan

Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) signs concession agreement with theSelangor State Government for the Sungai Selangor Phase 3 (SSP3) projectSyarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) menandatangani perjanjian konsesi denganKerajaan Negeri Selangor untuk projek Sungai Selangor Fasa 3 (SSP3)

Gamuda takes stake in Dyna Plastics Sdn Bhd, a manufacturer of polymer lithium ion (PLi) batteries inIpoh, PerakGamuda menguasai kepentingan dalam Dyna Plastics Sdn Bhd, sebuah pengilang bateri polimer lithiumion (PLi) di Ipoh, Perak

Gamuda launches e-Project, a portal developed jointly by GIT Services and IBM MalaysiaGamuda melancarkan e-Projek, sebuah portal yang dibangunkan secara usahasama oleh GIT Servicesdan IBM Malaysia

Gamuda signs concession agreement with the National Highways Authority of India to undertake thePanagarh-Palsit Highway project in West Bengal, IndiaGamuda menandatangani perjanjian konsesi dengan Lembaga Lebuhraya Nasional India untukmelaksanakan projek Lebuhraya Panagarh-Palsit di Bengal Barat, India

4 GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN

29 June 2001

15 June 2001

16 March 2001

1 February 2000

Megah Sewa Sdn Bhd• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Provision of Rental and Maintenance Services for Construction Plant and

Equipment• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam Pengeluaran,

Pemasangan dan Servis• Skop Pendaftaran: Penyediaan Perkhidmatan Sewa dan Penyelenggaraan bagi Loji dan Peralatan

Pembinaan

Lingkaran Trans Kota Holdings Berhad• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Provision of Highway Operations and Maintenance Services• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam

Pengeluaran, Pemasangan dan Servis• Skop Pendaftaran: Penyediaan Operasi Lebuhraya dan Perkhidmatan Penyelenggaraan

G B Kuari Sdn Bhd • MS ISO 14001:1997 Environmental Management Systems – Specification with Guidance

or Use• Scope of Registration: Operation of a Plant for Manufacturing of Premix and Aggregates including

Quarrying• Sistem Pengurusan Alam Sekitar MS ISO 14001:1997 – Spesifikasi dengan Panduan atau Kegunaan • Skop Pendaftaran: Operasi Loji bagi Pengilangan Simen Sedia Bancuh dan Agregat termasuk

Perkuarian

Kesas Sdn Bhd• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Management and Operations of Lebuhraya Shah Alam• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam

Pengeluaran, Pemasangan dan Servis• Skop Pendaftaran: Pengurusan dan Operasi Lebuhraya Shah Alam

GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN 5

9 August 2000

15 January 1998

3 December 1997

6 February 1997

Dyna Plastics Sdn BhdLloyd’s Register Quality Assurance:• ISO 9001:1994 EN ISO 9001:1994• BS EN ISO 9001:1994 MS ISO 9001:1994• Design and Manufacture of Rechargeable Polymer Lithium Ion BatteryLloyd’s Register Quality Assurance:• ISO 9001:1994 EN ISO 9001:1994• BS EN ISO 9001:1994 MS ISO 9001:1994• Rekabentuk dan Pengilangan Bateri Ion Lithium Polimer Boleh Cas Semula

G B Kuari Sdn Bhd• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Manufacture of Aggregates and Premix• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan

dan Perkhidmatan Servis• Skop Pendaftaran: Pengilangan Agregat dan Simen Sedia Bancuh

Gamuda Paper Industries Sdn Bhd• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Manufacture of Non-Carbon Required (NCR) Paper• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan

Perkhidmatan Servis• Skop Pendaftaran: Pengilangan Kertas Tidak Memerlukan Karbon (NCR)

Gamuda Berhad• MS ISO 9002:1994 Quality Systems – Model for Quality Assurance in Production, Installation and

Servicing• Scope of Registration: Provision of Construction Services in Civil and Building Engineering Works• Sistem Kualiti MS ISO 9002:1994 – Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan

Perkhidmatan Servis • Skop Pendaftaran: Penyediaan Perkhidmatan Pembinaan dalam Kerja-kerja Kejuruteraan Awam

dan Bangunan

Gamuda

Hicom-GamudaDevelopment Sdn Bhd

Gamuda Berhad

Gamuda Berhad

Gamuda Berhad

G B Kuari Sdn Bhd

Planning Innovation and Concept Award 2000 by the Malaysian Institute of PlannersAnugerah Inovasi dan Konsep Perancangan 2000 oleh Institut Perancang Malaysia

Euromoney’s Best-Managed Companies in Asia 2000 – ConstructionSyarikat Pengurusan Terbaik Euromoney di Asia 2000 – Pembinaan

The 2000 Reuters Survey of Global Emerging Markets – • Ranked first in terms of quality of information provided via one-to-one meetings and quality of

“on-going” relationship• Rated second for quality of information provided via one-to-one telephone calls as well as quality

of information via e-mail• Third for speed of response and preparation of one-to-one meetings Kaji Selidik Reuters 2000 bagi Pasaran Baru Global – • Pertama dari segi kualiti maklumat yang diberi melalui pertemuan bersemuka dan kualiti bagi

hubungan “berterusan” • Kedua bagi kualiti maklumat yang diberi melalui panggilan telefon serta kualiti maklumat melalui

e-mel• Ketiga bagi kepantasan tindak balas dan persediaan daripada pertemuan secara bersemuka

Construction Industry Development Board• The Malaysian Construction Industry Awards 2001• Large Scale Project Award for the Western KL Dispersal Scheme (SPRINT Highway)Lembaga Pembangunan Industri Pembinaan • Anugerah Industri Pembinaan Malaysia 2001 • Anugerah Projek Berskala Besar bagi Skim Penyuraian KL Barat (Lebuhraya SPRINT)

Enterprise 50 Awards 2001 for Small & Medium Industries (SMIs) – 25th placingAnugerah Perniagaan 50 2001 untuk Industri Kecil & Sederhana (IKS) – tempat ke 25

6 GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN

the future membinauntukmasa hadapan

building for

8 NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN

NOTICE IS HEREBY GIVEN that the Twenty-Fifth Annual General Meeting of the Company will

be held at the Ballroom of Kota Permai Golf & Country Club, No. 1, Jalan 31/100A, Section 31,

Kota Kemuning, 40460 Shah Alam, Selangor Darul Ehsan on Monday, 14 January 2002 at 10.00 am

for the purpose of transacting the following businesses:

ADALAH DENGAN INI DIMAKLUMKAN bahawa Mesyuarat Agung Tahunan Syarikat Kedua Puluh Lima akan diadakan di Ballroom, Kota

Permai Golf & Country Club, No. 1, Jalan 31/100A, Seksyen 31, Kota Kemuning, 40460 Shah Alam, Selangor Darul Ehsan pada hari Isnin,

14 Januari 2002 jam 10.00 pagi untuk tujuan melaksanakan urusan-urusan berikut:

AGENDA1 To receive and adopt the Audited Financial Statements for the year ended 31 July 2001 together

with the Reports of the Directors and Auditors thereon.

2 To declare a final dividend of 4% per share less 28% income tax for the year ended 31 July 2001.

3 To approve the payment of Directors’ fees for the year ended 31 July 2001.

4 To re-elect Y Bhg Dato’ Lin Yun Ling who retires pursuant to Paragraph 7.28 of the ListingRequirements of the Kuala Lumpur Stock Exchange.

5 To re-elect the following Directors who retire pursuant to Article 64 of the Company’s Articles ofAssociation:a Y A M Raja Dato’ Seri Eleena Azlan Shahb Mr Ng Kee Leenc Mr Saw Wah Theng

6 To re-elect the following Directors who retire pursuant to Article 69 of the Company’s Articles ofAssociation:a Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairib Y M Raja Dato’ Seri Abdul Aziz bin Raja Salimc Y Bhg Datuk Ab Rahman bin Omard Tuan Haji Azmi Mat Nor

7 To re-appoint Messrs Arthur Andersen & Co as Auditors of the Company and to authorise theDirectors to fix their remuneration.

8 As Special Business, to consider and if thought fit, to pass the following resolution with or withoutmodifications, as an Ordinary Resolution:

Ordinary Resolution– Authority To Allot And Issue Shares Pursuant To Section 132D Of The Companies

Act, 1965

“THAT pursuant to Section 132D of the Companies Act, 1965, the Directors be and are herebyempowered to allot and issue shares in the Company at any time and upon such terms and conditions and for such purposes as the Directors may, in their absolute discretion deem fit including but not limited to such shares as may be issued pursuant to the Employees’ ShareOption Scheme of the Company, provided that the aggregate number of shares issued pursuant tothis resolution does not exceed 10% of the issued share capital of the Company for the time beingand that the Directors be and are also empowered to obtain the approval for the listing of and quotation for the additional shares so issued on the Kuala Lumpur Stock Exchange and thatsuch authority shall continue in force until the conclusion of the next Annual General Meeting of the Company.”

9 To transact any other business for which due notice shall have been given.

Resolution 1

Resolution 2

Resolution 3

Resolution 4

Resolution 5Resolution 6Resolution 7

Resolution 8Resolution 9Resolution 10Resolution 11

Resolution 12

Resolution 13

AGENDA1 Untuk menerima dan meluluskan Penyata Kewangan Yang Telah Diaudit bagi tahun berakhir 31 Julai

2001 berserta Laporan para Pengarah dan Juruaudit mengenainya.

2 Untuk mengisytiharkan dividen akhir sebanyak 4% sesaham ditolak 28% cukai pendapatan bagi tahunberakhir 31 Julai 2001.

3 Untuk meluluskan bayaran yuran para Pengarah bagi tahun berakhir 31 Julai 2001.

4 Untuk memilih semula Y Bhg Dato’ Lin Yun Ling yang bersara selaras dengan Perenggan 7.28Keperluan Penyenaraian Bursa Saham Kuala Lumpur.

5 Untuk memilih semula para Pengarah berikut yang bersara selaras dengan Artikel 64 TataurusanPertubuhan Syarikat:a Y A M Raja Dato’ Seri Eleena Azlan Shahb Encik Ng Kee Leenc Encik Saw Wah Theng

6 Untuk memilih semula para Pengarah berikut yang bersara selaras dengan Artikel 69 TataurusanPertubuhan Syarikat:a Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairib Y M Raja Dato’ Seri Abdul Aziz bin Raja Salimc Y Bhg Datuk Ab Rahman bin Omard Tuan Haji Azmi Mat Nor

7 Untuk melantik semula Tetuan Arthur Andersen & Co sebagai Juruaudit Syarikat dan memberi kuasakepada para Pengarah untuk menetapkan bayaran mereka.

8 Sebagai Urusan Khas, untuk mempertimbangkan dan jika difikirkan wajar, meluluskan resolusi berikutdengan atau tanpa pengubahsuaian, sebagai Resolusi Biasa:

Resolusi Biasa– Kuasa untuk Memperuntuk dan Menerbitkan Saham Selaras Dengan Seksyen 132D

Akta Syarikat, 1965

“BAHAWA selaras dengan Seksyen 132D Akta Syarikat, 1965, para Pengarah adalah dan dengan inidiberi kuasa untuk memperuntuk dan menerbitkan saham dalam Syarikat pada bila-bila masa danmenurut terma-terma dan syarat-syarat tertentu dan untuk tujuan-tujuan yang mungkin menurutpertimbangan muktamad para Pengarah sesuai termasuk tetapi tidak terhad kepada saham yangmungkin diterbitkan menurut Skim Opsyen Saham Kakitangan Syarikat, dengan syarat bilanganagregat saham yang diterbitkan menurut resolusi ini tidak melebihi 10% daripada modal sahamterbitan Syarikat pada masa itu dan bahawa para Pengarah adalah dan dengan ini juga diberi kuasauntuk mendapatkan kelulusan bagi penyenaraian dan sebutharga saham tambahan yang diterbitkan diBursa Saham Kuala Lumpur dan bahawa kuasa tersebut akan terus berkuatkuasa sehingga penamatanMesyuarat Agung Tahunan Syarikat yang berikutnya.”

9 Untuk melaksanakan sebarang urusan lain yang mana notis sewajarnya telah diberikan.

Resolusi 1

Resolusi 2

Resolusi 3

Resolusi 4

Resolusi 5Resolusi 6Resolusi 7

Resolusi 8Resolusi 9Resolusi 10Resolusi 11

Resolusi 12

Resolusi 13

NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN 9

A Depositor shall qualify for entitlement only in respect of:

a Shares transferred into the Depositor’s SecuritiesAccount before 12.30 pm on 23 January 2002, inrespect of ordinary transfers; and

b Shares bought on the Kuala Lumpur Stock Exchange ona cum entitlement basis according to the Rules of theKuala Lumpur Stock Exchange.

By Order of the Board

LIM SOO LYECompany Secretary

Petaling Jaya, Selangor Darul Ehsan15 December 2001

Notes

1 A member of the Company entitled to attend and vote at the Meeting is entitled to appoint a proxy or not more than two proxies to attend and vote in his/her stead. Aproxy need not be a member of the Company.

2 Where a member appoints two proxies, the appointments shall be invalid unless he/she specifies the proportions of his/her holdings to be represented by each proxy.3 The Proxy Form must be signed by the appointer or his attorney duly authorised in writing or in the case of a corporation, executed under its common seal or attorney

duly authorised in that behalf.4 If no name is inserted in the space provided for the name of your proxy, the Chairman of the Meeting will act as your proxy.5 The Proxy Form must be deposited at the Registered Office of the Company situated at No. 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor Darul

Ehsan not less than forty-eight (48) hours before the time fixed for holding the Meeting or any adjournment thereof.

Explanatory Notes on Special BusinessResolution 13 - Authority To Allot And Issue Shares Pursuant To Section 132D Of The Companies Act, 1965The proposed Resolution 13 if passed, will empower the Directors to issue shares of the Company up to a maximum of 10% of the issued share capital of the Company for thetime being for such purposes as the Directors consider would be in the interest of the Company.This authority, unless revoked or varied by the Company at a general meetingwill expire at the conclusion of the next Annual General Meeting of the Company.The rationale for this resolution is to save cost and time for convening a general meeting.

Nota-nota

1 Seseorang ahli Syarikat yang layak untuk hadir dan mengundi pada Mesyuarat adalah layak untuk melantik seorang proksi atau tidak melebihi dua proksi untuk hadir danmengundi bagi pihaknya. Proksi tidak semestinya ahli Syarikat.

2 Apabila seseorang ahli melantik dua proksi, perlantikan tersebut akan menjadi tidak sah kecuali nisbah pemegangan beliau yang akan diwakili oleh setiap proksi dinyatakan.3 Borang Proksi perlu ditandatangani oleh pelantik atau peguamnya yang telah diberi kuasa secara bertulis atau jika perbadanan, disempurnakan di bawah meterai rasminya

atau peguamnya yang telah diberi kuasa bagi pihaknya.4 Jika tiada nama dimasukkan di dalam ruang yang disediakan untuk nama proksi anda, Pengerusi Mesyuarat akan menjadi proksi anda.5 Borang Proksi perlu dihantar ke Pejabat Berdaftar Syarikat yang terletak di No 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor Darul Ehsan tidak lewat

dari empat puluh lapan (48) jam sebelum waktu yang telah ditetapkan untuk mengadakan Mesyuarat atau pada sebarang penangguhannya.

Nota-nota Keterangan mengenai Urusan KhasResolusi 13 – Kuasa Untuk Memperuntuk dan Menerbitkan Saham Selaras Dengan Seksyen 132D Akta Syarikat, 1965Resolusi 13 yang dicadangkan, jika diluluskan akan memberi kuasa kepada para Pengarah untuk menerbitkan saham Syarikat sehingga maksimum 10% daripada modal sahamterbitan Syarikat pada masa itu bagi tujuan-tujuan yang menurut pertimbangan para Pengarah adalah untuk kepentingan Syarikat. Kuasa ini, kecuali dibatalkan ataudipelbagaikan oleh Syarikat di mesyuarat agung akan tamat pada penutup Mesyuarat Agung Tahunan Syarikat yang berikutnya. Rasional bagi resolusi ini adalah untukmenjimatkan kos dan masa untuk mengadakan mesyuarat agung.

Notice of Entitlement Date and Dividend Payment

NOTICE IS ALSO HEREBY GIVEN that a final dividend of 4% less income tax at 28% per

RM1.00 ordinary share for the year ended 31 July 2001, if approved at the Twenty-Fifth Annual

General Meeting will be paid on 5 February 2002 to depositors registered in the Record of

Depositors on 23 January 2002.

Notis Tarikh Kelayakan dan Pembayaran Dividen

ADALAH DENGAN INI JUGA DIMAKLUMKAN bahawa dividen akhir sebanyak 4% ditolak 28% cukai pendapatan untuk setiap saham

biasa bernilai RM1.00 bagi tahun berakhir 31 Julai 2001, jika diluluskan pada Mesyuarat Agung Tahunan Kedua Puluh Lima akan dibayar

pada 5 Februari 2002 kepada para pendeposit yang berdaftar di dalam Rekod Pendeposit pada 23 Januari 2002.

Seseorang Pendeposit akan berhak untuk kelayakan hanyaberkenaan:

a Saham yang dipindahmilik ke dalam Akaun SekuritiPendeposit sebelum jam 12.30 tengahari pada 23Januari 2002, bagi pindahmilik biasa; dan

b Saham yang dibeli di Bursa Saham Kuala Lumpurberdasarkan kelayakan serta menurut Peraturan BursaSaham Kuala Lumpur.

Dengan Perintah Lembaga Pengarah

LIM SOO LYESetiausaha Syarikat

Petaling Jaya, Selangor Darul Ehsan15 Disember 2001

10 NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN

PENYATA BERSERTA NOTIS MESYUARAT AGUNG TAHUNAN 11

STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING

(pursuant to Paragraph 8.28(8) of the Listing Requirements of the Kuala Lumpur Stock Exchange)(selaras dengan Perenggan 8.28(8) Keperluan Penyenaraian Bursa Saham Kuala Lumpur)

The Board met five (5) times during the financial year and all the meetings were held at the Board Room, No. 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor.

The date and time of the Board Meetings are as follows:

Lembaga Pengarah telah bermesyuarat sebanyak lima (5) kali pada tahun kewangan ini dan semua mesyuarat diadakan di BilikLembaga, No. 55-61, Jalan SS22/23, Damansara Jaya, 47400 Petaling Jaya, Selangor.

Tarikh dan masa Mesyuarat Lembaga Pengarah tersebut adalah seperti berikut:

Meeting Mesyuarat Date Tarikh Time Masa

Fourth Board of Directors’ Meeting for 2000 27.09.2000 10.00 amMesyuarat Lembaga Pengarah Keempat bagi tahun 2000 (Wednesday) (Rabu) 10.00 pagi

Fifth Board of Directors’ Meeting for 2000 20.12.2000 10.00 amMesyuarat Lembaga Pengarah Kelima bagi tahun 2000 (Wednesday) (Rabu) 10.00 pagi

First Board of Directors’ Meeting for 2001 21.03.2001 2.30 pmMesyuarat Lembaga Pengarah Pertama bagi tahun 2001 (Wednesday) (Rabu) 2.30 petang

Second Board of Directors’ Meeting for 2001 23.04.2001 10.00 amMesyuarat Lembaga Pengarah Kedua bagi tahun 2001 (Monday) (Isnin) 10.00 pagi

Third Board of Directors’ Meeting for 2001 21.06.2001 3.00 pmMesyuarat Lembaga Pengarah Ketiga bagi tahun 2001 (Thursday) (Khamis) 3.00 petang

The profile of the Directors who are standing for re-election and the attendance of each at the Board Meetings held during thefinancial year are set out in pages 19 to 29 of the Annual Report.

Profil para Pengarah yang menawarkan diri untuk pemilihan semula dan kehadiran setiap ahli Lembaga Pengarah tersebut diMesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan dibentangkan di muka surat 19 hingga 29 Laporan Tahunan.

12 5 YEARS’ FINANCIAL HIGHLIGHTS MAKLUMAT PENTING KEWANGAN 5 TAHUN

1997 1998 1999 2000 2001

RM’000 RM’000 RM’000 RM’000 RM’000

RevenuePerolehan 640,319 492,987 315,514 637,488 831,283

Profit Before TaxationKeuntungan Sebelum Cukai 131,033 110,033 143,033 206,062 276,035

Total AssetsJumlah Aset 988,376 1,022,170 1,164,486 1,405,638 2,438,223

Net Tangible AssetsAset Ketara Bersih 618,682 672,609 806,420 1,067,404 1,212,982

Net Tangible Assets Per Share (sen)Aset Ketara Bersih Sesaham (sen) 214 232 273 160 182

Group Earnings Per Share (sen)Pendapatan Sesaham Kumpulan (sen) 17 13 24 23 29

Total Number of SharesJumlah Saham 289,083 289,696 295,904 665,191 665,389

Net ProfitKeuntungan Bersih 89,189 77,562 138,328 146,815 191,708

Shareholders' FundDana Pemegang Saham 624,190 678,093 811,879 1,072,615 1,216,015

Revenue (RM ‘000)

Perolehan (RM ‘000)

Profit Before Taxation(RM ‘000)

Keuntungan Sebelum Cukai (RM ‘000)

Shareholder’s Fund (RM ‘000)

Dana Pemegang Saham (RM ‘000)

Group Earnings Per Share (sen)

Pendapatan Sesaham Kumpulan(sen)

97 98 99 00 01 97 98 99 00 01 97 98 99 00 01 97 98 99 00 01

640,

319

492,

987

315,

514

637,

488 83

1,28

3

131,

033

110,

033

143,

033

206,

062

276,

035

624,

190

678,

093

811,

879 1,07

2,61

5

1,21

6,01

5

17

13

24 23

29

STRUKTUR KORPORAT pada 21 November 2001 13

Expressway Tolling &ManagementKutipan Tol &Pengurusan Lebuhraya

- Lingkaran Trans Kota HoldingsBerhad 41%

- Sistem PenyuraianTrafik KL BaratHoldings Sdn Bhd42%

- Kesas HoldingsBerhad 30%

- Madang Permai Sdn Bhd 36%

- Mapex InfrastructurePrivate Limited[through Gamuda-WCT (Offshore)Private Limited] 50%

TradingPerdagangan

- Gamuda Trading Sdn Bhd 100%

- GPI Trading Sdn Bhd [throughGamuda PaperIndustries Sdn Bhd]95%

ConstructionPembinaan

- Gammau Construction Sdn Bhd 100%

- Gamuda EngineeringSdn Bhd 100%

- Masterpave Sdn Bhd100%

- Ganaz Bina Sdn Bhd100%

- Gamuda (India)Private Limited100%

- Gamuda-WCT(India) PrivateLimited 70%

Water Supply &TreatmentBekalan & Rawatan Air

- Syarikat Pengeluar Air Sungai SelangorSdn Bhd (SPLASH)[through GabunganCekap Sdn Bhd]30%

- Gamuda Water SdnBhd [formerly knownas The Sweet WaterManagement SdnBhd] 80%

Property DevelopmentPembangunanHartanah

- Hicom-GamudaDevelopment Sdn Bhd 50%

- Danau Permai ResortBerhad [through Hicom-GamudaDevelopment Sdn Bhd] 50%

- ValenciaDevelopment Sdn Bhd 80%

- Harum Intisari Sdn Bhd 100%

InvestmentPelaburan

- Gamuda OverseasInvestment Ltd100%

- Megah Capital Sdn Bhd 100%

- Gabungan Cekap SdnBhd 30%

- Gamuda (Offshore)Private Limited100%

- Gamuda-WCT(Offshore) PrivateLimited [throughGamuda (Offshore)Private Limited] 50%

Manufacturing,Quarrying,Plant Hire & OthersPerkilangan,Perkuarian, PenyewaanLoji & Lain-lain

- Gamuda PaperIndustries Sdn Bhd95%

- G B Kuari Sdn Bhd[through Ganaz BinaSdn Bhd] 100%

- Dyna Plastics Sdn Bhd 44%

- Megah ManagementServices Sdn Bhd100%

- Megah Sewa Sdn Bhd 100%

- Sussen (Malaysia)Sdn Bhd 50%

- Reka Strategi SdnBhd 100%

InformationTechnologyTeknologi Maklumat

- GIT Services Sdn Bhd 100%

CORPORATE STRUCTURE as at 21 November 2001

14 CORPORATE DIRECTORY PANDUAN KORPORAT

Gamuda Berhad

Gamuda EngineeringSdn Bhd

Lingkaran TransKota HoldingsBerhad

Kesas HoldingsBerhad

Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd

Syarikat PengeluarAir Sungai SelangorSdn Bhd

Hicom-Gamuda Development Sdn Bhd

Kota Permai Golf & Country Club

ValenciaDevelopment Sdn Bhd

Harum Intisari Sdn Bhd

55-61, Jalan SS 22/23, Damansara Jaya, 47400 Petaling Jaya, SelangorTel 603 7729 8094 Fax 603 7727 1112 Website http://www.gamuda.com.my

55-61, Jalan SS 22/23, Damansara Jaya, 47400 Petaling Jaya, SelangorTel 603 7729 8094 Fax 603 7728 9811

Kompleks Operasi LITRAK, KM19, Lebuhraya Damansara-Puchong, Bandar Sunway PJS947500 Petaling Jaya, SelangorTel 603 5633 3929 Fax 603 5637 2099 Website http://www.litrak.com.my

1,Wisma Kesas, Lebuhraya Shah Alam, 47500 Subang Jaya, SelangorTel 603 5632 7088 Fax 603 5632 6088 Website http://www.kesas.com.my

Pejabat Operasi, KM 3, Hubungan Damansara, Lebuhraya SPRINT, Seksyen 1746400 Petaling Jaya, SelangorTel 603 7960 1050 Fax 603 7960 1051 Website http://www.sprint.com.my

Lot 28, Jalan SS 22/21, Damansara Jaya,47400 Petaling Jaya, SelangorTel 603 7729 2928 Fax 603 7726 1557 Website http://www.splash.com.my

No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 522 1055 Fax 603 522 3040 Website http://www.kkev.net

1, Jalan 31/100A, Seksyen 31, Kota Kemuning, 40460 Shah Alam, SelangorTel 603 522 3700 Fax 603 522 3701 Website http://www.kotapermai.com.my

No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 521 9299 Fax 603 521 6599 Website http://www.valencia.com.my

No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 521 9299 Fax 603 522 2945

CORPORATE DIRECTORY PANDUAN KORPORAT 15

Gamuda TradingSdn Bhd

Megah LandscapeSdn Bhd

Gamuda-Mujur Minat JV

Megah Sewa SdnBhd

Gamuda Plant Operator School

G B Kuari Sdn Bhd

GIT Services SdnBhd

Masterpave SdnBhd

Ganaz Bina SdnBhd

Gamuda PaperIndustries Sdn BhdGPI Trading SdnBhd

Dyna Plastics SdnBhd


2A, Persiaran Anggerik Vanilla, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 522 6330 Fax 603 522 6293

26-32, Jalan 6/62A, Bandar Menjalara, 52200 Kuala LumpurTel 603 6277 0506 Fax 603 6277 0495

16, Jalan Anggerik Mukara, Seksyen 31/48, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 522 2213 Fax 603 522 2331

16, Jalan Anggerik Mukara, Seksyen 31/48, Kota Kemuning, Seksyen 31, 40460 Shah Alam, SelangorTel 603 522 2213 Fax 603 522 5580

160, Jalan Gopeng, 31350 Ipoh, Perak Tel 605 312 5010 Fax 605 312 5026

70B, Jalan SS 22/21, Damansara Jaya, 47400 Petaling Jaya, SelangorTel 603 7726 9210 Fax 603 7729 4323 Website http://www.git.com.my


158, Jalan Gopeng, 31350 Ipoh, PerakTel 605 312 8818 Fax 605 312 0822

6, Jalan Jurutera U1/23, Hicom Glenmarie Industrial Park, 40150 Shah Alam, SelangorTel 603 7804 1410 Fax 603 7804 1348 Website http://www.gpi.com.my

169, Hala Perusahaan Menglembu 13, Kawasan Perindustrian Menglembu, 31450 Ipoh, PerakTel 605 281 2020 Fax 605 281 5555 E-mail [email protected]

right kanan:1 Y Bhg Dato’ Lin Yun Ling2 Y Bhg Tan Sri Dato' Mohd Ramli

bin Kushairi3 Y M Raja Dato’ Seri Abdul Aziz

bin Raja Salim4 Mr Ng Kee Leen5 Y A M Raja Dato’ Seri Eleena Azlan Shah6 Y Bhg Dato’ Ir Kamarul Zaman

bin Mohd Ali

7 Ms Wong Chin Yen8 Y Bhg Datuk Ab Rahman

bin Omar9 Mr Goon Heng Wah10 Mr Ha Tiing Tai11 Mr Saw Wah Theng12 Tuan Haji Azmi Mat Nor13 Mr Chow Chee Wah

left kiri:

Chairman Pengerusi


BOARD OF DIRECTORSLEMBAGA PENGARAHNon-Independent Non-Executive ChairmanPengerusi Bukan EksekutifBukan BebasY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim

Managing DirectorPengarah UrusanY Bhg Dato’ Lin Yun Ling

Non-Independent Non-Executive DirectorPengarah Bukan EksekutifBukan BebasY A M Raja Dato’ Seri Eleena Azlan Shah

Independent Non-Executive DirectorsPengarah Bukan Eksekutif Bebas Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi

Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim

Y Bhg Datuk Ab Rahman bin OmarMs Wong Chin Yen

Executive DirectorsPengarah Eksekutif Y Bhg Dato’ Ir Kamarul Zaman bin Mohd Ali

Mr Ng Kee LeenMr Goon Heng WahMr Ha Tiing TaiMr Saw Wah ThengTuan Haji Azmi Mat NorMr Chow Chee Wah (Alternate to Y Bhg Dato’ Lin Yun Ling)

AUDIT COMMITTEEJAWATANKUASA AUDITChairmanPengerusiY M Raja Dato’ Seri Abdul Aziz bin Raja Salim

MembersAhli-ahliY Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi

Mr Ng Kee LeenMs Wong Chin Yen

NOMINATION COMMITTEEJAWATANKUASA PENCALONANChairmanPengerusiY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim

MembersAhli-ahliY Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi

Ms Wong Chin Yen

REMUNERATION COMMITTEEJAWATANKUASA IMBUHANChairmanPengerusiY Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim

MembersAhli-ahliY Bhg Dato’ Lin Yun LingY M Raja Dato’ Seri Abdul Aziz bin Raja Salim

COMPANY SECRETARYSETIAUSAHA SYARIKATMs Lim Soo Lye (LS 006461)

REGISTERED OFFICEPEJABAT BERDAFTAR55-61, Jalan SS22/23Damansara Jaya 47400 Petaling JayaSelangor Darul EhsanTel 603 7729 8094Fax 603 7728 9811E-mail [email protected]

REGISTRARPENDAFTAR(For Ordinary Share,Warrant 1996/2006& Warrant 2001/2007)(Bagi Saham Biasa,Waran 1996/2006 &Waran 2001/2007)Insurban Corporate Services Sdn Bhd149, Jalan Aminuddin BakiTaman Tun Dr Ismail60000 Kuala LumpurTel 603 7729 5529Fax 603 7728 5948

AUDITORSJURUAUDITArthur Andersen & CoPublic Accountants Akauntan Awam

PRINCIPAL BANKERBANK UTAMAMalayan Banking Berhad

STOCK EXCHANGE LISTINGPENYENARAIAN BURSA SAHAMMain BoardKuala Lumpur Stock ExchangePapan Utama Bursa Saham Kuala Lumpur

WEBSITELAMAN WEBwww.gamuda.com.my

16 CORPORATE INFORMATION MAKLUMAT KORPORAT

BOARD OF DIRECTORS LEMBAGA PENGARAH 17

1 2

8 9 10

4 & 5

11 12 13

3

6 & 7

enhancingvalue for our customersmempertingkatkannilaiuntukpelanggan

PROFILE OF DIRECTORS PROFIL PARA PENGARAH 19

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim, Malaysian, aged 66, is the Non-Independent Non-Executive Chairmanof Gamuda. He was first appointed to the Board on 26 March 1992 and was subsequently appointed Chairman of the AuditCommittee. He relinquished his position as Chairman of the Audit Committee on 16 October 2001. He also serves as theChairman of the Remuneration and Nomination Committees. He holds a Diploma in Civil Engineering from Brighton TechnicalCollege, United Kingdom and a Masters degree in Management from the Asian Institute of Management, Manila, Philippines.Tan Sri Dato’ Ir Talha is a Professional Engineer registered with the Board of Engineers, Malaysia and a Chartered Engineerregistered with the Engineering Council, United Kingdom. He is also a Fellow of the Institution of Engineers Malaysia, a Fellow ofthe Institution of Civil Engineers, United Kingdom and a Fellow of the Institution of Highways and Transportation, United Kingdom.He worked with the Jabatan Kerja RayaMalaysia (JKR) for 31 years where he lastserved as Director-General overseeing theplanning, design, construction andmaintenance of public roads and watersupplies, government buildings, airports andmarine ports. On his retirement from publicservice, he was appointed the Chairman ofSepakat Setia Perunding Sdn Bhd, a consultantengineering firm. Tan Sri Dato’ Ir Talha wasalso the President of the Board of EngineersMalaysia, a member of the Board of Directorsof the Malaysian Highway Authority, Chairmanof the Central Registration Committee ofGovernment Contractors, Council Memberof the Universiti Teknologi Malaysia andCouncil Member of the Scientif ic andResearch Institute of Malaysia.

Currently, he also sits on the Boards of HumeIndustries (Malaysia) Berhad, SapuraTelecommunications Berhad, SHLConsolidated Berhad, Sunway City Berhadand several private limited companies. As at31 July 2001, he held 825,828 ordinary shares,110,110 Warrant 1996/2006 and 206,457Warrant 2001/2007 of Gamuda and did nothave any securities holdings in any subsidiariesof Gamuda.

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim, warganegaraMalaysia, berusia 66 tahun, merupakan Pengerusi Bukan Eksekutif BukanBebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 26Mac 1992 dan seterusnya dilantik sebagai Pengerusi Jawatankuasa Audit.Beliau meletak jawatan sebagai Pengerusi Jawatankuasa Audit pada 16Oktober 2001. Beliau juga berkhidmat sebagai Pengerusi JawatankuasaImbuhan dan Jawatankuasa Pencalonan. Beliau berkelulusan DiplomaKejuruteraan Awam dari Brighton Technical College, United Kingdom danijazah Sarjana Pengurusan dari Asian Institute of Management, Manila, Filipina.Tan Sri Dato’ Ir Talha adalah seorang Jurutera Profesional yang berdaftardengan Lembaga Jurutera, Malaysia dan seorang Jurutera Bertauliah berdaftardengan Engineering Council, United Kingdom. Beliau juga merupakan FellowInstitut Jurutera Malaysia, Fellow Institution of Civil Engineers, UnitedKingdom dan Fellow Institution of Highways and Transportation, UnitedKingdom. Beliau pernah berkhidmat dengan Jabatan Kerja Raya Malaysia (JKR)selama 31 tahun di mana jawatan terakhir beliau adalah sebagai KetuaPengarah yang bertanggungjawab mengawal selia perancangan, rekabentuk,pembinaan dan penyelenggaraan jalan awam dan bekalan air, bangunankerajaan, lapangan terbang dan pelabuhan. Selepas bersara daripadaperkhidmatan awam, beliau telah dilantik sebagai Pengerusi Sepakat SetiaPerunding Sdn Bhd, sebuah firma perunding kejuruteraan. Tan Sri Dato’ IrTalha turut menjadi Presiden Lembaga Jurutera Malaysia, Ahli LembagaPengarah Lembaga Lebuhraya Malaysia. Pengerusi Jawatankuasa PendaftaranPusat Kontraktor Kerajaan, Ahli Majlis Universiti Teknologi Malaysia dan AhliMajlis Institut Saintifik dan Penyelidikan Malaysia.

Kini, beliau juga menganggotai Lembaga Pengarah Hume Industries (Malaysia)Berhad, Sapura Telecommunications Berhad, SHL Consolidated Berhad,Sunway City Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai2001, beliau memegang sebanyak 825,828 saham biasa, 110,110 Waran1996/2006 dan 206,457 Waran 2001/2007 Gamuda dan tidak mempunyaisebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda.

20 PROFILE OF DIRECTORS PROFIL PARA PENGARAH

Except for recurrent related party transaction of revenue nature which is necessary for the day-to-day operations of Gamudaand its subsidiaries in respect of engineering consultancy services rendered by Sepakat Setia Perunding Sdn Bhd, a company inwhich Tan Sri Dato’ Ir Talha is a major shareholder and Director, there are no other business arrangements with Gamuda inwhich he has a personal interest.

He attended four (4) of the five (5) Board Meetings held during the financial year ended 31 July 2001.

Y Bhg Dato’ Lin Yun Ling, Malaysian, aged46, is the Managing Director of Gamuda. Hewas first appointed to the Board as ManagingDirector on 10 February 1981. He is also amember of the Remuneration Committee.Dato’ Lin is a civil engineer by profession. Heholds a Bachelor of Science (Honours) degreein Civil Engineering from the University ofLondon, United Kingdom. He joined Gamudain 1977 as Project Manager. Under hisleadership, Gamuda has been transformedinto a diversified group of companies involvedin construction, infrastructure concessions,property development and manufacturing.

Dato’ Lin also sits on the Board of Directorsof Lingkaran Trans Kota Holdings Berhad,Danau Permai Resort Berhad and severalprivate limited companies. As at 31 July 2001,he held 56,848,818 ordinary shares, 500,000employees’ share options, 8,053,442 Warrant1996/2006 and 12,240,551 Warrant 2001/2007of Gamuda and does not have any securitiesholdings in any subsidiaries of Gamuda.

He attended all five (5) Board Meetings heldduring the financial year ended 31 July 2001.

Kecuali urusniaga pihak berkaitan berulang-ulang yang berbentuk menjanahasil yang perlu untuk operasi harian Gamuda dan subsidiari-subsidiarinyabagi khidmat rundingan kejuruteraan yang diberi oleh Sepakat SetiaPerunding Sdn Bhd, sebuah syarikat di mana Tan Sri Dato’ Ir Talha merupakanseorang pemegang saham utama dan Pengarah, tidak terdapat sebarangpengaturan perniagaan lain dengan Gamuda di mana beliau mempunyaikepentingan peribadi.

Beliau telah menghadiri empat (4) daripada lima (5) Mesyuarat LembagaPengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001.

Y Bhg Dato’ Lin Yun Ling, warganegara Malaysia, berusia 46 tahun, adalahPengarah Urusan Gamuda. Beliau mula dilantik ke Lembaga Pengarah sebagaiPengarah Urusan pada 10 Februari 1981. Beliau juga merupakan ahliJawatankuasa Imbuhan, Dato’ Lin adalah seorang jurutera awam. Beliauberkelulusan ijazah Sarjana Muda Sains (Kepujian) jurusan KejuruteraanAwam dari University of London, United Kingdom. Beliau menyertaiGamuda pada tahun 1977 sebagai Pengurus Projek. Di bawah kepimpinanbeliau, Gamuda telah berubah menjadi sebuah kumpulan syarikat berpelbagaiyang terlibat dalam aktiviti pembinaan, konsesi infrastruktur, pembangunanhartanah dan perkilangan.

Dato’ Lin turut menganggotai Lembaga Pengarah Lingkaran Trans KotaHoldings Berhad, Danau Permai Resort Berhad dan beberapa syarikatsendirian berhad. Pada 31 Julai 2001, beliau memegang 56,848,818 sahambiasa, 500,000 opsyen saham kakitangan, 8,053,442 Waran 1996/2006 dan12,240,551 Waran 2001/2007 Gamuda dan tidak mempunyai sebarangpegangan sekuriti dalam mana-mana subsidiari Gamuda.

Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yangdiadakan pada tahun kewangan berakhir 31 Julai 2001.


Y Bhg Tan Sri Dato' Mohd Ramli bin Kushairi, Malaysian, aged 65, is an Independent Non-Executive Director of Gamuda.He was first appointed to the Board on 22 October 2001. He is also a member of the Audit and Nomination Committees.TanSri Dato’ Mohd Ramli graduated with a Bachelor of Arts (Honours) degree in Social Science from Hull University, England anddid post-graduate work at King's College, London University. He began his career in the public service in 1961 as AssistantSecretary, Bank Negara Malaysia. From 1965 to 1974, he served in senior positions at the Tariff Advisory Board, FederalAgricultural Marketing Authority and the Federation of Malaysian Manufacturers. From 1972 to 1983, he served as a Directorand subsequently the Group ManagingDirector of Kumpulan Fima Berhad. Tan SriDato’ Mohd Ramli was formerly Vice-President of Dewan Perniagaan MelayuMalaysia, Secretary-General of NationalChamber Of Commerce And Industry andSecretary-General of ASEAN-Chambers OfCommerce And Industry. He was alsoformerly the UMNO Liaison SecretaryWilayah Persekutuan from 1980 to 1982 anda member of the Advisory Board, DewanBandaraya Kuala Lumpur. Currently he is amember of the Board of NationalProductivity Corporation and NationalStandards & Accreditation Council andChairman of the Council ’s NationalStandards Committee.

Tan Sri Dato’ Mohd Ramli is also theChairman of South Malaysia IndustriesBerhad, Chairman of Sin Kean Boon GroupBerhad, Director of DMIB Berhad, L&MCorporation (M) Berhad, Masscorp Berhadand several private limited companies. Hedoes not have any securities holdings inGamuda or in any subsidiaries of Gamuda.

He did not attend any of the Board Meetingsheld during the financial year as he wasappointed as Director after the financialyear-end.

Y Bhg Tan Sri Dato' Mohd Ramli bin Kushairi, warganegara Malaysia,berusia 65 tahun. Beliau adalah Pengarah Bukan Eksekutif Bebas Gamuda.Beliau mula dilantik menganggotai Lembaga Pengarah pada 22 Oktober 2001.Beliau juga merupakan ahli Jawatankuasa Audit dan Jawatankuasa Pencalonan.Tan Sri Dato’ Mohd Ramli berkelulusan ijazah Sarjana Muda Sastera(Kepujian) jurusan Sains Sosial dari Hull University, England. Selepas itu, beliaumelanjutkan pengajian ke peringkat sarjana di King's College, LondonUniversity. Beliau memulakan kerjaya beliau dalam perkhidmatan awam padatahun 1961 sebagai Penolong Setiausaha, Bank Negara Malaysia. Dari tahun1965 hingga 1974, beliau berkhidmat dalam beberapa jawatan kanan diLembaga Penasihat Tarif, Lembaga Pemasaran Pertanian Persekutuan danPersekutuan Pekilang-Pekilang Malaysia. Dari tahun 1972 hingga 1983, beliauberkhidmat sebagai Pengarah dan seterusnya sebagai Pengarah UrusanKumpulan Fima Berhad. Tan Sri Dato’ Mohd Ramli adalah bekas NaibPresiden Dewan Perniagaan Melayu Malaysia, Ketua Setiausaha DewanPerdagangan dan Industri Nasional dan Ketua Setiausaha Dewan Perdagangandan Industri-ASEAN. Beliau juga adalah bekas Setiausaha PerhubunganUMNO Wilayah Persekutuan dari tahun 1980 hingga 1982 dan ahli LembagaPenasihat, Dewan Bandaraya Kuala Lumpur. Kini beliau merupakan seorangahli Lembaga Perbadanan Produktiviti Negara dan Majlis Piawaian &Akreditasi Negara dan Pengerusi Jawatankuasa Majlis Piawaian Negara.

Tan Sri Dato’ Mohd Ramli juga merupakan Pengerusi South MalaysiaIndustries Berhad, Pengerusi Sin Kean Boon Group Berhad, Pengarah DMIBBerhad, L&M Corporation (M) Berhad, Masscorp Berhad dan beberapasyarikat sendirian berhad. Beliau tidak mempunyai sebarang pegangan sekuritidalam Gamuda atau mana-mana subsidiari Gamuda.

Beliau tidak menghadiri sebarang Mesyuarat Lembaga Pengarah yang diadakanpada tahun kewangan ini kerana beliau dilantik sebagai Pengarah selepastahun kewangan berakhir.


Y M Raja Dato' Seri Abdul Aziz bin Raja Salim, Malaysian, aged 63, is an Independent Non-Executive Director of Gamuda.He was first appointed to the Board on 22 October 2001. He is also the Chairman of the Audit Committee and a member ofthe Remuneration Committee. Y M Raja Dato’ Seri Abdul Aziz is a Honorary Fellow of The Malaysian Institute of Taxation,Fellow of The Chartered Association of Certified Accountants, United Kingdom, Fellow of The Chartered Institute ofManagement Accountants (CIMA), United Kingdom and a Chartered Accountant (Malaysia). He served as Director-General ofInland Revenue Malaysia from 1980 to 1990and Accountant-General Malaysia from 1990to 1994.Y M Raja Dato’ Seri Abdul Aziz wasthe President of CIMA, Malaysia Division from1976 to 1993, a Council Member of CIMA,United Kingdom from 1990 to 1996 and wasthe only Malaysian then to be awarded theCIMA Gold Medal in recognition of hisoutstanding service to the accountingprofession. He has been a Council Member ofthe Malaysian Institute of Accountants since1998 and is presently the Chairman of itsCommittee on Internal Audit.

Y M Raja Dato’ Seri Abdul Aziz is also the Chairman of the Audit Committees of K&N Kenanga Holdings Berhad, CamerlinGroup Berhad and Jerneh Asia Berhad and a Director of Amanah Saham Mara Berhad,K&N Unit Trust Berhad, Jerneh InsuranceBerhad, Tasek Corporation Berhad, PPB (Oil)Palms Berhad and several private limitedcompanies. He does not have any securitiesholdings in Gamuda or in any subsidiaries of Gamuda.

He did not attend any of the Board Meetingsheld during the financial year as he was appointed a Director after the financialyear-end.

Y M Raja Dato' Seri Abdul Aziz bin Raja Salim, warganegara Malaysia,berusia 63, adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau muladilantik menganggotai Lembaga Pengarah pada 22 Oktober 2001. Beliau jugamerupakan Pengerusi Jawatankuasa Audit dan ahli Jawatankuasa Imbuhan,Y M Raja Dato’ Seri Abdul Aziz adalah seorang Fellow Kehormat InstitutPercukaian Malaysia, Fellow The Chartered Association of CertifiedAccountants, United Kingdom, Fellow The Chartered Institute ofManagement Accountants (CIMA), United Kingdom dan seorang AkauntanBertauliah (Malaysia). Beliau berkhidmat sebagai Ketua Pengarah Jabatan HasilDalam Negeri Malaysia dari tahun 1980 hingga 1990 dan Ketua AkauntanMalaysia dari tahun 1990 hingga 1994.Y M Raja Dato’ Seri Abdul Aziz adalahbekas Presiden CIMA, Bahagian Malaysia dari tahun 1976 hingga 1993,seorang Ahli Majlis CIMA, United Kingdom dari tahun 1990 hingga 1996 danmerupakan satu-satunya rakyat Malaysia ketika itu yang dianugerahkandengan Pingat Emas CIMA sebagai pengiktirafan atas khidmat cemerlangbeliau dalam profesion perakaunan. Beliau adalah Ahli Majlis Institut AkauntanMalaysia sejak tahun 1998 dan kini merupakan Pengerusi Jawatankuasa AuditDalamannya.

Y M Raja Dato’ Seri Abdul Aziz juga merupakan Pengerusi Jawatankuasa AuditK&N Kenanga Holdings Berhad, Camerlin Group Berhad dan Jerneh AsiaBerhad dan Pengarah Amanah Saham Mara Berhad, K&N Unit Trust Berhad,Jerneh Insurance Berhad,Tasek Corporation Berhad, PPB (Oil) Palms Berhaddan beberapa syarikat sendirian berhad. Beliau tidak mempunyai sebarangpegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda.



Mr Ng Kee Leen, Malaysian, aged 45, is an Executive Director of Gamuda. He was first appointed to the Board on 20 September 1986. He also serves as a member of the Audit Committee. Mr Ng has been with Gamuda since 1977 duringwhich time he has held various senior management positions. He has extensive experience in tender, finance andimplementation of infrastructure projects. He currently oversees the business development of new projects.

Mr Ng also sits on the Boards of LingkaranTrans Kota Holdings Berhad, Kesas HoldingsBerhad and several private limited companies.As at 31 July 2001, he held 14,516,114 ordinaryshares, 500,000 employees’ share options,2,288,000 Warrant 1996/2006 and 4,308,335Warrant 2001/2007 of Gamuda and did nothave any securities holdings in any subsidiariesof Gamuda.


Y A M Raja Dato’ Seri Eleena Azlan Shah,Malaysian, aged 41, is a Non-Independent Non-Executive Director of Gamuda. She was firstappointed to the Board on 1 June 1992.Y A MRaja Dato’ Seri Eleena is a Barrister-at-Lawfrom Lincoln’s Inn, London, United Kingdom.She was called to the English Bar in 1985. Uponreturning to Malaysia, she joined Messrs Skrine& Co and was called to the Malaysian Bar in1986. She left Messrs Skrine & Co in 1987 toset up her own practice, Messrs Raja Eleena,Siew Ang & Associates.

Y A M Raja Dato’ Seri Eleena is also a Directorof KAF-Seagroatt & Campbell Berhad. As at 31July 2001, she was deemed interested in92,486,928 ordinary shares, 13,724,000 Warrant1996/2006 and 23,122,000 Warrant 2001/2007of Gamuda held by Generasi Setia (M) Sdn Bhdand did not have any securities holdings in anysubsidiaries of Gamuda. Generasi Setia (M) SdnBhd, a major shareholder of Gamuda, is acompany owned by her.Y A M Raja Dato’ SeriEleena is the niece of Y Bhg Dato’ Ir KamarulZaman bin Mohd Ali.

She attended four (4) of the five (5) BoardMeetings held during the financial year ended31 July 2001.

Encik Ng Kee Leen, warganegara Malaysia, berusia 45 tahun, adalah PengarahEksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada20 September 1986. Beliau juga berkhidmat sebagai ahli Jawatankuasa Audit.Sejak menyertai Gamuda pada tahun 1977, Encik Ng pernah memegangpelbagai jawatan pengurusan kanan. Beliau mempunyai pengalaman luas dalambidang tender, kewangan dan pelaksanaan projek infrastruktur. Kini beliaumenyelia perkembangan perniagaan projek-projek baru.

Encik Ng turut menganggotai Lembaga Pengarah Lingkaran Trans KotaHoldings Berhad, Kesas Holdings Berhad dan beberapa syarikat sendirianberhad. Pada 31 Julai 2001, beliau memegang 14,516,114 saham biasa, 500,000opsyen saham kakitangan, 2,288,000 Waran 1996/2006 dan 4,308,335 Waran2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalammana-mana subsidiari Gamuda.


Y A M Raja Dato’ Seri Eleena Azlan Shah, warganegara Malaysia,berusia 41 tahun, adalah Pengarah Bukan Eksekutif Bukan Bebas Gamuda.Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Jun 1992.Y A MRaja Dato’ Seri Eleena berkelulusan Barrister-at-Law dari Lincoln’s Inn,London, United Kingdom. Beliau ditauliah sebagai peguam di English Bar padatahun 1985. Sekembali ke Malaysia, beliau menyertai Messrs Skrine & Co danditauliah di Majlis Peguam Malaysia pada tahun 1986. Beliau meninggalkanMessrs Skrine & Co pada tahun1987 untuk menubuhkan firma guaman beliausendiri, Messrs Raja Eleena, Siew Ang & Associates.

Y A M Raja Dato’ Seri Eleena juga merupakan Pengarah KAF-Seagroatt &Campbell Berhad. Pada 31 Julai 2001, beliau dianggap mempunyai kepentingandalam 92,486,928 saham biasa, 13,724,000 Waran 1996/2006 dan 23,122,000Waran 2001/2007 Gamuda yang dipegang oleh Generasi Setia (M) Sdn Bhddan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiariGamuda. Generasi Setia (M) Sdn Bhd, salah satu pemegang saham utamaGamuda, adalah syarikat yang dimiliki oleh beliau.Y A M Raja Dato’ Seri Eleenaadalah anak saudara kepada Y Bhg Dato’ Ir Kamarul Zaman bin Mohd Ali.



Y Bhg Dato’ Ir Kamarul Zaman bin Mohd Ali, Malaysian, aged 65, is an Executive Director of Gamuda. He was firstappointed to the Board on 1 June 1992. Dato’ Ir Kamarul Zaman holds a Bachelor of Science degree in Engineering from theInstitute of Technology, Brighton, United Kingdom. He was attached to Jabatan Kerja Raya (JKR) Penang from 1962 to 1974 asQuarry Manager and continued to serve JKR Penang from 1978 to 1981. Prior to joining G B Kuari Sdn Bhd, a subsidiary ofGamuda, on 1 June 1990, he was attached to the Penang Development Corporation as Senior Engineer from 1981 to 1990.

Dato’ Ir Kamarul Zaman also sits on theBoards of Intan Utilities Bhd, Unza HoldingsBerhad and several private limited companies.As at 31 July 2001, he held 1,218,000 ordinaryshares, 500,000 employees’ share options,172,000 Warrant 1996/2006 and 331,500Warrant 2001/2007 of Gamuda and did not have any securities holdings in anysubsidiaries of Gamuda. Dato’ Ir KamarulZaman is the uncle of Y A M Raja Dato’ SeriEleena Azlan Shah.


Ms Wong Chin Yen, Malaysian, aged 41, is anIndependent Non-Executive Director ofGamuda. She was first appointed to the Boardas a Non-Executive Director on 1 June 1992.Ms Wong is also a member of the Audit andNomination Committees.

After graduating with a Bachelor of Arts(Honours) degree in Law from thePolytechnic of North London, UnitedKingdom in 1982, she joined the HonourableSociety of Middle Temple in 1983. In 1984, shewas admitted to the London School ofEconomics and Political Science where sheobtained her Masters of Law degree. From1985 to 1987, she chambered and worked atShearn Delamore & Co, a firm of solicitorsbefore she joined American Express (M) SdnBhd as Legal and Credit Control Supervisorfor the next 3 1/2 years. From 1990 to 1997,she started and managed her own business,providing process service to legal firms.Thereafter, she joined the stock brokerageindustry and is presently a Dealer’sRepresentative with HLG Securities Sdn Bhd.

Y Bhg Dato’ Ir Kamarul Zaman bin Mohd Ali, warganegara Malaysia,berusia 65, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantikmenganggotai Lembaga Pengarah pada 1 Jun 1992. Dato’ Ir Kamarul Zamanberkelulusan ijazah Sarjana Muda Sains dalam jurusan Kejuruteraan dariInstitute of Technology, Brighton, United Kingdom. Beliau pernah berkhidmatdengan Jabatan Kerja Raya (JKR) Pulau Pinang dari tahun 1962 hingga 1974sebagai Pengurus Kuari dan terus berkhidmat dengan JKR Pulau Pinang daritahun 1978 hingga 1981. Sebelum menyertai G B Kuari Sdn Bhd, subsidiariGamuda, pada 1 Jun 1990, beliau berkhidmat dengan Perbadanan KemajuanPulau Pinang sebagai Jurutera Kanan dari tahun 1981 hingga 1990.

Dato’ Ir Kamarul Zaman turut menganggotai Lembaga Pengarah IntanUtilities Bhd, Unza Holdings Berhad dan beberapa syarikat sendirian berhad.Pada 31 Julai 2001, beliau memegang 1,218,000 saham biasa, 500,000 opsyensaham kakitangan, 172,000 Waran 1996/2006 dan 331,500 Waran 2001/2007Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-manasubsidiari Gamuda. Dato’ Ir Kamarul Zaman adalah bapa saudara kepada Y A M Raja Dato’ Seri Eleena Azlan Shah.


Cik Wong Chin Yen, warganegara Malaysia, berusia 41 tahun, adalahPengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantik menganggotaiLembaga Pengarah sebagai Pengarah Bukan Eksekutif pada 1 Jun 1992. CikWong juga merupakan ahli Jawatankuasa Audit dan Jawatankuasa Pencalonan.

Selepas memperolehi ijazah Sarjana Muda Sastera (Kepujian) dalam jurusanUndang-undang dari Polytechnic of North London, United Kingdom padatahun 1982, beliau menyertai Honourable Society of Middle Temple padatahun 1983. Pada tahun 1984, beliau diterima oleh London School ofEconomics and Political Science di mana beliau memperolehi ijazah SarjanaUndang-undang. Dari tahun 1985 hingga 1987, beliau menjalani latihan danbekerja di Shearn Delamore & Co, sebuah firma peguambela sebelummenyertai American Express (M) Sdn Bhd sebagai Penyelia Perundangan danKawalan Kredit untuk 3 1/2 tahun berikutnya. Dari tahun 1990 hingga 1997,beliau memula dan mengurus perniagaan beliau sendiri, yang menyediakankhidmat pemprosesan kepada firma-firma guaman. Selepas itu, beliaumenyertai industri pembrokeran stok dan kini merupakan Wakil Penjualdengan HLG Securities Sdn Bhd.


Ms Wong does not sit on the Boards of any other public companies. She does not have any securities holdings in Gamuda or inany subsidiaries of Gamuda.

She attended all five (5) Board Meetings held during the financial year ended 31 July 2001.

Y Bhg Datuk Ab Rahman bin Omar,Malaysian, aged 55, is an Independent Non-Executive Director of Gamuda. He was firstappointed to the Board on 22 October 2001.Datuk Ab Rahman graduated with a Bachelorof Economics (Honours) degree fromUniversity of Malaya in 1970 and started hiscareer with the prestigious Administrationand Diplomatic Services, serving variousgovernment departments. He joined theprivate sector in 1973.

Currently he is the Chairman of BHP Steel(Malaysia) Sdn Bhd, Managing Director ofPerusahaan Otomobil Kedua Sdn Bhd and aDirector of Perusahaan Sadur Timah MalaysiaBhd. He does not have any securities holdingsin Gamuda or in any subsidiaries of Gamuda.

He did not attend any of the Board Meetingsheld during the financial year as he was appointed a Director after the financialyear-end.

Mr Goon Heng Wah, Malaysian, aged 45, isan Executive Director of Gamuda. He wasfirst appointed to the Board on 11 November1986, resigned on 30 October 1988 and wasre-appointed to the Board on 1 June 1992. MrGoon graduated with a Bachelor ofEngineering (Honours) degree from thePolytechnic of South Bank, United Kingdom.He held several senior management positionssince joining Gamuda in 1978 withresponsibilities including management andsupervision of major projects. Currently, heoversees project management of the Group’smajor infrastructure and propertydevelopment projects and the businessdevelopment of new infrastructure projects.

Cik Wong tidak menganggotai Lembaga Pengarah mana-mana syarikat awamlain. Beliau tidak mempunyai sebarang pegangan sekuriti dalam Gamuda ataumana-mana subsidiari Gamuda.


Y Bhg Datuk Ab Rahman bin Omar, warganegara Malaysia, berusia 55,adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantikmenganggotai Lembaga Pengarah pada 22 Oktober 2001. Datuk Ab Rahmanberkelulusan ijazah Sarjana Muda Ekonomi (Kepujian) dari Universiti Malayapada tahun 1970 dan memulakan kerjaya beliau dalam PerkhidmatanPentadbiran dan Diplomatik di beberapa jabatan kerajaan. Beliau mulamenyertai sektor swasta pada tahun 1973.

Buat masa ini, beliau merupakan Pengerusi BHP Steel (Malaysia) Sdn Bhd,Pengarah Urusan Perusahaan Otomobil Kedua Sdn Bhd dan PengarahPerusahaan Sadur Timah Malaysia Bhd. Beliau tidak mempunyai sebarangpegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda.


Encik Goon Heng Wah, warganegara Malaysia, berusia 45 tahun, adalahPengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai LembagaPengarah pada 11 November 1986, meletak jawatan pada 30 Oktober 1988dan telah dilantik semula ke Lembaga Pengarah pada 1 Jun 1992. Encik Goonberkelulusan ijazah Sarjana Muda Kejuruteraan (Kepujian) dari Polytechnic ofSouth Bank, United Kingdom. Sejak menyertai Gamuda pada tahun 1978,beliau telah menyandang beberapa jawatan pengurusan kanan dengantanggungjawab yang meliputi pengurusan dan penyeliaan projek-projek utama.Kini, beliau menyelia pengurusan projek infrastruktur dan pembangunanhartanah utama Kumpulan dan perkembangan perniagaan projek-projekinfrastruktur baru.


Mr Goon also sits on the Boards of a number of private limited companies. He is not a Director of any other public companies.As at 31 July 2001, he held 11,471,158 ordinary shares, 500,000 employees’ share options, 1,788,158 Warrant 1996/2006 and2,996,000 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda.

He attended four (4) of the five (5) BoardMeetings held during the financial year ended31 July 2001.

Mr Ha Tiing Tai, Malaysian, aged 47, is anExecutive Director of Gamuda. He was firstappointed to the Board on 1 February 1990.He holds a Bachelor of Engineering(Honours) degree from the University ofMalaya. Mr Ha who has responsibility for theGroup’s design & technical functions, is aChartered Engineer with more than 22 yearsexperience in the engineering andconstruction sectors. Prior to joiningGamuda, he was Associate Director ofHashim & Neh, an engineering consulting firmspecialising in turnkey projects.

Mr Ha also sits on the Boards of severalprivate limited companies. He is not aDirector of any other public companies.As at31 July 2001, he held 13,207,938 ordinaryshares, 500,000 employees’ share options,1,704,000 Warrant 1996/2006 and 3,477,000Warrant 2001/2007 of Gamuda and did nothave any securities holdings in any subsidiariesof Gamuda.


Encik Goon turut menganggotai Lembaga Pengarah beberapa syarikatsendirian berhad. Beliau bukan Pengarah mana-mana syarikat awam lain. Pada31 Julai 2001, beliau memegang sebanyak 11,471,158 saham biasa, 500,000opsyen saham kakitangan, 1,788,158 Waran 1996/2006 dan 2,996,000 Waran2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalammana-mana subsidiari Gamuda.


Encik Ha Tiing Tai, warganegara Malaysia, berusia 47 tahun, adalah PengarahEksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Februari 1990. Beliau berkelulusan ijazah Sarjana Muda Kejuruteraan(Kepujian) dari Universiti Malaya. Encik Ha yang bertanggungjawab di atas fungsi rekabentuk & teknikal Kumpulan, adalah seorang JuruteraBertauliah dengan lebih 22 tahun pengalaman dalam sektor kejuruteraan danpembinaan. Sebelum menyertai Gamuda, beliau merupakan Pengarah diHashim & Neh, sebuah firma rundingan kejuruteraan yang mengkhusus dalamprojek “turnkey.”

Encik Ha turut menganggotai Lembaga Pengarah beberapa syarikat sendirianberhad. Beliau bukan merupakan Pengarah mana-mana syarikat awam lain.Pada 31 Julai 2001, beliau memegang sebanyak, 13,207,938 saham biasa,500,000 opsyen saham kakitangan, 1,704,000 Waran 1996/2006 dan3,477,000 Waran 2001/2007 Gamuda dan tidak mempunyai sebarangpegangan sekuriti dalam mana-mana subsidiari Gamuda.



Mr Saw Wah Theng, Malaysian, aged 44, is an Executive Director of Gamuda. He was first appointed to the Board on 1February 1998. He was admitted as an Associate of the Institute of Chartered Accountants in England and Wales in 1985. In1988 he became a member of the Malaysian Institute of Accountants. He has extensive experience in accounting, finance andcorporate finance. He was attached to an accounting firm in the United Kingdom from 1981 to 1985. Prior to joining theGamuda Group, he was the Group Financial Controller of Hong Leong Industries Berhad. Mr Saw is responsible for the Group’sbudgetary control, treasury, tax and corporate finance including mergers and corporate restructuring exercises.

He is also a Director of Lingkaran Trans KotaHoldings Berhad, Kesas Holdings Berhad, anAlternate Director in Danau Permai ResortBerhad and a Director of several privatelimited companies.As at 31 July 2001, he held100,000 ordinary shares, 500,000 employees’share options and 96,000 Warrant 2001/2007of Gamuda and did not have any securitiesholdings in any subsidiaries of Gamuda.


Tuan Haji Azmi Mat Nor, Malaysian, aged43, is an Executive Director of Gamuda. Hewas first appointed as Alternate Director toMr Heng Teng Kuang on 22 December 2000.He ceased to be an Alternate Director to MrHeng Teng Kuang on 1 August 2001 when thelatter resigned on 1 August 2001. He wassubsequently appointed to the Board as aDirector on 24 September 2001.

Encik Saw Wah Theng, warganegara Malaysia, berusia 44 tahun, adalahPengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai LembagaPengarah pada 1 Februari 1998. Beliau diterima sebagai Ahli BersekutuInstitute of Chartered Accountants di England dan Wales pada tahun 1985.Pada tahun 1988 beliau menjadi ahli Institut Akauntan Malaysia. Beliaumempunyai pengalaman yang luas dalam bidang perakaunan, kewangan dankewangan korporat. Beliau pernah berkhidmat dengan sebuah firmaperakaunan di United Kingdom dari tahun 1981 hingga 1985. Sebelummenyertai Kumpulan Gamuda, beliau adalah Pengawal Kewangan KumpulanHong Leong Industries Berhad. Encik Saw bertanggungjawab di ataspengawalan belanjawan, perbendaharaan, cukai dan kewangan korporatKumpulan meliputi latihan pergabungan dan penyusunan semula korporat.

Beliau juga merupakan Pengarah Lingkaran Trans Kota Holdings Berhad,Kesas Holdings Berhad, Pengarah Pengganti di Danau Permai Resort Berhaddan Pengarah beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliaumemegang 100,000 saham biasa, 500,000 opsyen saham kakitangan dan96,000 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangansekuriti dalam mana-mana subsidiari Gamuda.


Tuan Haji Azmi Mat Nor, warganegara Malaysia, berusia 43 tahun, adalahPengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai LembagaPengarah sebagai Pengarah Pengganti kepada Encik Heng Teng Kuang pada 22Disember 2000. Beliau berhenti menjadi Pengarah Pengganti kepada EncikHeng Teng Kuang pada 1 Ogos 2001 apabila Encik Heng meletak jawatanpada 1 Ogos 2001. Beliau kemudiannya dilantik ke Lembaga Pengarah sebagaiseorang Pengarah pada 24 September 2001.


Tuan Haji Azmi graduated with a Bachelor of Science degree in Civil Engineering in 1983 and a Masters of Science degree inHighway Engineering in 1995, both from the University of Strathclyde, Glasgow, Scotland, United Kingdom. He was Site Engineerfor Jabatan Kerja Raya (JKR) Pahang from 1983 to 1984 and Resident Engineer of JKR Selangor from 1984 to 1986.As ResidentEngineer, he was responsible for supervision of the construction of army complex, civil work and air force buildings. He waspromoted to Maintenance Engineer, JKR Selangor in 1986 where he was responsible for the management of maintenance workfor the army complex. From 1987 to 1997 he was the Assistant Director in charge of design and coordination of Central ZoneDesign Unit under JKR Cawangan Jalan.

Tuan Haji Azmi also sits on the Boards ofLingkaran Trans Kota Holdings Berhad, KesasHoldings Berhad and several private limitedcompanies.As at 31 July 2001, he held 10,000ordinary shares of Gamuda and did not haveany securities holdings in any subsidiaries of Gamuda.

He attended three (3) of the five (5) BoardMeetings held during the financial year ended31 July 2001 as an Alternate Director(appointed on 22 December 2000).

Mr Chow Chee Wah, Malaysian, aged 43, isthe Alternate Director to Dato’ Lin Yun Ling.He holds an Executive position in Gamuda.He was first appointed as an AlternateDirector to Mr Chan Kuan Nam @ ChanYong Foo on 22 December 2000. He ceasedto be an Alternate Director to Mr Chan KuanNam @ Chan Yong Foo on 1 August 2001when the latter resigned on 1 August 2001.He was subsequently appointed AlternateDirector to Dato' Lin Yun Ling on 24September 2001. He graduated from theUniversity of London, United Kingdom in1981 with a Bachelor of Science degree inEngineering. He is a member of the Instituteof Engineers, Malaysia and has been aProfessional Engineer registered with theBoard of Engineers since 1986.

Tuan Haji Azmi berkelulusan ijazah Sarjana Muda Sains dalam jurusanKejuruteraan Awam pada tahun 1983 dan berkelulusan ijazah Sarjana Sainsdalam Kejuruteraan Lebuhraya pada tahun 1995, kedua-duanya dariUniversity of Strathclyde, Glasgow, Scotland, United Kingdom. Beliaumerupakan Jurutera Tapak, Jabatan Kerja Raya (JKR) Pahang dari tahun 1983hingga 1984 dan Jurutera Residen JKR Selangor dari tahun 1984 hingga 1986.Sebagai Jurutera Residen, beliau bertanggungjawab terhadap penyeliaanpembinaan kompleks angkatan tentera, kerja awam dan bangunan-bangunantentera udara. Beliau dinaikkan pangkat ke jawatan Jurutera Penyenggaraan,JKR Selangor pada tahun 1986 di mana beliau bertanggungjawab terhadappengurusan kerja penyenggaraan bagi kompleks angkatan tentera. Dari tahun1987 hingga 1997 beliau merupakan Penolong Pengarah yangbertanggungjawab terhadap rekabentuk dan penyelarasan Unit RekabentukZon Tengah di bawah JKR Cawangan Jalan.

Tuan Haji Azmi juga menganggotai Lembaga Pengarah Lingkaran Trans KotaHoldings Berhad, Kesas Holdings Berhad dan beberapa syarikat sendirianberhad. Pada 31 Julai 2001, beliau memegang sebanyak 10,000 saham biasaGamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-manasubsidiari Gamuda.

Beliau telah menghadiri tiga (3) daripada lima (5) Mesyuarat LembagaPengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001 sebagaiPengarah Pengganti (dilantik pada 22 Disember 2000).

Encik Chow Chee Wah, warganegara Malaysia, berusia 43 tahun, adalahPengarah Pengganti kepada Dato’ Lin Yun Ling. Beliau menyandang jawatanEksekutif di Gamuda. Beliau mula dilantik sebagai Pengarah Pengganti kepadaEncik Chan Kuan Nam @ Chan Yong Foo pada 22 Disember 2000. Beliauberhenti menjadi Pengarah Pengganti kepada Encik Chan Kuan Nam @ ChanYong Foo pada 1 Ogos 2001 apabila Encik Chan meletakkan jawatan pada 1 Ogos 2001. Selepas itu, beliau dilantik sebagai Pengarah Pengganti kepadaDato' Lin Yun Ling pada 24 September 2001. Beliau berkelulusan dariUniversity of London, United Kingdom pada tahun 1981 dengan ijazahSarjana Muda Sains dalam jurusan Kejuruteraan. Beliau merupakan ahliInstitut Jurutera Malaysia dan seorang Jurutera Profesional yang berdaftardengan Lembaga Jurutera sejak tahun 1986.


A Chartered Engineer since 1989, he joined Gamuda on 1 April 1995 as Project Coordinator and is currently also the SeniorGeneral Manager for Design & Technical Division. He was formerly an Associate Director of Sepakat Setia Perunding Sdn Bhd, acompany he was with from 1981 to 1995. During this period, he was involved in numerous projects, inter-alia, the design forpiled roadway and sub-structure for buildings in the Johor Bahru Waterfront City Project and the design of the North-SouthExpressway from Pagoh to Ayer Hitam in Johor.

Mr Chow is also a Director of several privatelimited companies. He is not a Director of anyother public companies.As at 31 July 2001, heheld 2,000 ordinary shares and 450,000employees’ share options of Gamuda and didnot have any securities holdings in anysubsidiaries of Gamuda.

He attended three (3) of the five (5) BoardMeetings held during the financial year ended31 July 2001 as an Alternate Director(appointed on 22 December 2000).

Beliau yang merupakan seorang Jurutera Bertauliah sejak tahun 1989,menyertai Gamuda pada 1 April 1995 sebagai Penyelaras Projek dan kinimerupakan Pengurus Besar Kanan bagi Bahagian Rekabentuk & Teknikal.Beliau adalah bekas Pengarah Bersekutu Sepakat Setia Perunding Sdn Bhd,syarikat di mana beliau berkhidmat dari tahun 1981 hingga 1995. Sepanjangtempoh tersebut, beliau terlibat dalam berbagai projek, yang antara lain,rekabentuk jalanraya bercerucuk dan substruktur bagi bangunan di ProjekJohor Bahru Waterfront City dan rekabentuk Lebuhraya Utara-Selatan dariPagoh ke Ayer Hitam di Johor.

Encik Chow juga merupakan Pengarah beberapa syarikat sendirian berhad.Beliau bukan Pengarah mana-mana syarikat awam lain. Pada 31 Julai 2001,beliau memegang sebanyak 2,000 saham biasa dan 450,000 opsyen sahamkakitangan Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalammana-mana subsidiari Gamuda.

Beliau telah menghadiri tiga (3) daripada lima (5) Mesyuarat LembagaPengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001 sebagaiPengarah Pengganti (dilantik pada 22 Disember 2000).

Save as disclosed, none of the Directors have Selain daripada seperti yang dibentangkan, tiada Pengarah mempunyai:

• any family relationship with any Director and/or major shareholder of Gamuda.• sebarang hubungan kekeluargaan dengan mana-mana Pengarah dan/atau pemegang saham utama Gamuda.• any conflict of interest with Gamuda; and• sebarang konflik kepentingan dengan Gamuda: dan• any convictions for offences within the past ten (10) years other than traffic offences.• sebarang pembabitan bagi kesalahan dalam tempoh sepuluh (10) tahun lepas selain daripada kesalahan lalulintas.

Directors standing for re-election are Para Pengarah yang menawarkan diri untuk pemilihan semula adalah:

• Y Bhg Dato’ Lin Yun Ling • Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi• Y A M Raja Dato’ Seri Eleena Azlan Shah • Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim• Y Bhg Datuk Ab Rahman bin Omar • Mr Ng Kee Leen • Mr Saw Wah Theng • Tuan Haji Azmi Mat Nor

30 AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT

COMPOSITION AND DESIGNATION OF THE AUDIT COMMITTEE

Y M Raja Dato’ Seri Abdul Aziz bin Raja Salim (appointed on 22 October 2001)Chairman of Audit Committee (Independent Non-ExecutiveDirector)(dilantik pada 22 Oktober 2001)Pengerusi Jawatankuasa Audit (Pengarah Bukan Eksekutif Bebas)

Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi (appointed on 22 October 2001)Member (Independent Non-Executive Director)(dilantik pada 22 Oktober 2001)Ahli (Pengarah Bukan Eksekutif Bebas)

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim(resigned on 16 October 2001)(Non-Independent Non-Executive Director)(meletak jawatan pada 16 Oktober 2001 )(Pengarah Bukan Eksekutif Bukan Bebas)

Ms Wong Chin Yen Member (Independent Non-Executive Director)Ahli (Pengarah Bukan Eksekutif Bebas)

Mr Ng Kee Leen Member (Executive Director)Ahli (Pengarah Eksekutif)

KOMPOSISI DAN JAWATAN DALAM JAWATANKUASA AUDIT

OBJECTIVESThe principal objectives of the Committee are to protectthe interest of the investing public and to have moreeffective corporate governance.

TERMS OF REFERENCEDutiesThe duties of the Committee shall include the review of the following and report the same to the Board of Directors:

i the effectiveness of management information systemand other systems of internal control within theCompany and the Group;

ii Management’s compliance with laws, regulations,established policies, plans and procedures;

iii evaluate factors relating to the independence of the External Auditors and providing a frameworkwithin which the External Auditors can assert theirindependence;

iv together with the External Auditors assess andevaluate the scope of their audit plan, their evaluationof the system of internal control and the audit reportson the financial statements;

v the quarterly financial results and year end financialstatements with Management prior to deliberation andapproval by the Board, focusing particularly on:

a changes in major accounting policies;b significant and unusual events;c compliance with accounting standards and other

legal requirements.

vi the scope, function and resources of Internal Auditfunction and the necessary authority to carry out its work;

vii the Internal Audit program, processes and results ofthe audit work, process of investigation undertakenand whether or not appropriate action is taken on therecommendations of the Internal Audit function;

viii any related party transaction and conflict of interestsituation that may arise including any transaction,procedure or course of conduct concerningManagement’s integrity; and

ix the selection, remuneration and resignation ordismissal of the External Auditors.

AuthorityIn carrying out their duties and responsibilities, theCommittee shall have the authority to investigate anymatter within its terms of reference with full andunrestricted access to all the Company’s records,properties and personnel. The Committee is entitled toobtain independent professional or other advice to enableit to discharge its duties.

MeetingsThe Committee shall hold at least four meetings per year.Additional meeting may be held if it is requested to do soby any Committee member, the Management, Internal orExternal Auditors.The Committee may invite any person tobe in attendance to assist in its deliberations.

A quorum shall consist of a majority of IndependentDirectors and shall not be less than two. The CompanySecretary shall act as secretary of the Committee.

AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT 31

OBJEKTIFObjektif utama Jawatankuasa ialah untuk melindungikepentingan masyarakat pelaburan serta memastikan tadbirurus korporat yang lebih efektif.

TERMA RUJUKAN Tugas-tugasTugas Jawatankuasa meliputi mengkaji perkara-perkaraberikut dan melaporkannya kepada Lembaga Pengarah:

i keberkesanan sistem maklumat pengurusan dansistem-sistem kawalan dalaman lain di dalam Syarikatdan Kumpulan;

ii pematuhan pengurusan terhadap undang-undang,peraturan, dasar-dasar, rancangan dan prosedur yangtelah digariskan;

iii menilai faktor-faktor yang berkaitan dengan kebebasanJuruaudit Luar dan menyediakan rangka kerja yang membolehkan Juruaudit Luar menegaskanpendirian mereka;

iv bersama-sama dengan Juruaudit Luar menaksir danmenilai skop rancangan audit mereka, penilaian merekamengenai sistem kawalan dalaman dan laporan auditmengenai penyata kewangan;

v keputusan kewangan suku tahunan dan penyatakewangan akhir tahun dengan Pengurusan sebelumperbincangan dan kelulusan Lembaga Pengarah, denganmemfokus khususnya kepada:

a perubahan dalam dasar-dasar perakaunan penting;b peristiwa penting dan luarbiasa;c pematuhan terhadap piawaian perakaunan dan

keperluan perundangan yang lain.

vi skop, fungsi dan sumber fungsi Audit Dalaman danpihak berkuasa berkaitan untuk menjalankan tugasnya;

vii program Audit Dalaman, proses dan keputusan tugasaudit, proses penyiasatan yang dijalankan dan sama adawajar atau tidak tindakan diambil ke atas syor fungsiAudit Dalaman;

viii sebarang urusniaga pihak berkaitan dan pertelingkahankepentingan yang mungkin timbul termasuk sebarangurusniaga, prosedur atau bentuk tindakan berkenaankewibawaan Pengurusan; dan

ix pemilihan, ganjaran dan perletakan jawatan ataupemberhentian Juruaudit Luar.

KuasaDalam melaksanakan tugas dan tanggungjawabnya,Jawatankuasa ini mempunyai kuasa untuk menyiasatsebarang perkara yang tertakluk di dalam bidang kuasanyadengan diberi kuasa penuh dan tanpa halangan untukmeneliti semua rekod, hartanah dan kakitangan Syarikat.Jawatankuasa ini berhak untuk mendapat nasihat profesionalbebas atau nasihat lain untuk membolehkannya menjalankantugasnya.

MesyuaratJawatankuasa akan mengadakan sekurang-kurangnya empatmesyuarat setiap tahun. Mesyuarat tambahan bolehdiadakan jika diminta oleh ahli Jawatankuasa, Pengurusan,Juruaudit Dalaman atau Luar. Jawatankuasa ini bolehmengundang sesiapa untuk hadir bagi membantu dalamperbincangannya.

Kuorum akan mengandungi majoriti para Pengarah Bebasdan tidak boleh kurang daripada dua orang ahli. SetiausahaSyarikat akan bertindak sebagai setiausaha Jawatankuasa.

32 AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT

During the financial year ended 31 July 2001, the Committee met for a total of four times and the attendance of each memberof the Audit Committee are as follows:

Pada tahun kewangan berakhir 31 Julai 2001, Jawatankuasa telah bermesyuarat sebanyak empat kali dan butir-butir kehadiransetiap ahli Jawatankuasa Audit adalah seperti berikut:

Audit Committee Member Designation No. of meetings held during the year No. of meeting attendedAhli Jawatankuasa Audit Jawatan Bil. mesyuarat diadakan pada tahun Bil. mesyuarat dihadiri

Y Bhg Tan Sri Dato’ Ir Talha bin Haji Mohd Hashim Chairman Pengerusi 4 4

Ms Wong Chin Yen Member Ahli 4 4

Mr Ng Kee Leen Member Ahli 4 3

Summary of Audit Committee’s ActivitiesAudit Committee’s activities during financial year ended 31July 2001 include the review of:

i the risk assessment and audit plan proposed byInternal Auditors and recommend the same to theBoard for approval;

ii the audit plan and audit fees proposed by ExternalAuditors and recommend to the Board theappointment and audit fee of External Auditors;

iii the audit reports presented by Internal Auditors onfindings and recommendations with respect to systemand controls weaknesses and ensure implementationof corrective actions;

iv the compliance to accounting standards issued byMalaysian Accounting Standards Board;

v the Group’s quarterly financial results and recommendthe same to the Board for approval and announcementto the Kuala Lumpur Stock Exchange and SecuritiesCommission;

vi the Group’s year end audited accounts and auditreport on the financial statement as presented by theExternal Auditors and recommend the same to theBoard for approval.

Internal Audit FunctionInternal Audit function has been established to assist theCommittee in discharging its duties and responsibilities.Therole of the Internal Audit function is to provide theCommittee with independent and objective reports on thestate of internal control and compliance to policies andprocedures. The Internal Audit function is also involved inrisk assessment, risk evaluation and recommendation ofcontrol activities to manage such identified risk.

Ringkasan Aktiviti Jawatankuasa AuditAktiviti yang dijalankan oleh Jawatankuasa Audit pada tahunkewangan berakhir 31 Julai 2001 termasuk mengkaji:

i penilaian risiko dan rancangan audit yang disyorkanoleh Juruaudit Dalaman dan mencadangkannya kepadaLembaga Pengarah untuk kelulusan;

ii rancangan audit dan yuran audit yang disyorkan olehJuruaudit Luar dan mencadangkan kepada LembagaPengarah berhubung perlantikan dan yuran auditJuruaudit Luar;

iii laporan audit yang dikemukakan oleh JuruauditDalaman mengenai penemuan dan cadangan berhubungdengan kelemahan sistem dan kawalan sertamemastikan pelaksanaan tindakan pembetulan;

iv pematuhan terhadap piawaian perakaunan yangdikeluarkan oleh Lembaga Piawaian Perakaunan Malaysia;

v keputusan kewangan suku tahunan Kumpulan danmencadangkannya kepada Lembaga Pengarah untukkelulusan dan pengumuman kepada Bursa Saham KualaLumpur dan Suruhanjaya Sekuriti; dan

vi akaun akhir tahun Kumpulan dan laporan auditmengenai penyata kewangan seperti yang dikemukakanoleh juruaudit Luar dan mencadangkannya kepadaLembaga Pengarah untuk kelulusan.

Fungsi Audit DalamanFungsi Audit Dalaman diwujudkan untuk membantuJawatankuasa menjalankan tugas dan tanggungjawabnya.Peranan fungsi Audit Dalaman adalah untuk menyediakanlaporan yang berkecuali dan objektif kepada Jawatankuasamengenai hal-ehwal kawalan dalaman dan pematuhanterhadap pelbagai dasar dan prosedur. Fungsi Audit Dalamanjuga terlibat dalam penaksiran dan penilaian risiko danmengemukakan cadangan aktiviti-aktiviti kawalan untukmenguruskan risiko yang telah dikenalpasti.

DIRECTORS’ STATEMENT ON CORPORATE GOVERNANCE

Our Board of Directors welcomes the implementation of a Code of Corporate Governance

issued by the Finance Committee on Corporate Governance in March 2000.The Code defines

the principles and best practices on structures and processes that companies can use in their

operations towards achieving the optimal governance framework.

Lembaga Pengarah kami mengalu-alukan pelaksanaan Kod Tadbir Urus Korporat yang dikeluarkan oleh Jawatankuasa Kewangan

mengenai Tadbir Urus Korporat pada bulan Mac 2000. Kod ini mentakrifkan prinsip-prinsip dan amalan terbaik mengenai

struktur dan proses yang boleh digunakan oleh syarikat-syarikat dalam operasi masing-masing ke arah pencapaian rangka kerja

tadbir urus korporat yang optimum.

PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT 33

The Board is duly committed in implementing high standards of corporate governance and recognises the need for companiesto be more efficient and well-managed in a global economy. Indeed, the role of Directors in upholding the integrity of theCompany, protecting and enhancing shareholder value is crucial. The Code, therefore, provides a fundamental framework andthe yardstick for best practice benchmark.

Board of DirectorsThe Board has always had a balance ofExecutive and Non-Executive Directors. Inthe later part of the year, there was anincrease in the number of Independent Non-Executive Directors in compliance with theKLSE Listing Requirements. Members of theBoard have also been brought together torepresent a blend of legal, financial, technicaland business experiences that has been vitalto the successful direction of the Group.

The Board acknowledges that the principlesof good governance indicate that there shouldbe a clear division of responsibilities betweenthe running of the Board and executiveresponsibil ity for the running of theCompany’s business. The roles of theChairman and the Managing Director areclearly separated. Y Bhg Tan Sri Dato’ MohdRamli bin Kushairi, a Non-Executive Director,is the Senior Independent Director on theBoard to whom all concerns of shareholdersmay be conveyed.

The Board meets ordinarily four times perfinancial year, with additional meetings beingconvened as necessary. For the financial year2001, the Board met five times.The details ofmeetings are disclosed below.All of the Non-Executive Directors regularly attend meetingsof the Board and its committees andparticipate fully in the deliberations ofmatters reserved for the Board.

Lembaga Pengarah turut komited untuk melaksanakan taraf piawaian tadbir urus korporat yang tinggi serta mengakui keperluan bagi syarikat-syarikat supaya lebih cekap dan diurus dengan sempurna selaras denganpersekitaran ekonomi yang berciri global. Malah, peranan para Pengarahdalam menjaga kewibawaan Syarikat, melindungi serta mempertingkatkan nilaipemegang saham adalah amat penting. Justeru itu, Kod ini menyediakan saturangka kerja fundamental serta garis ukuran yang mampu menyediakan ukurrujuk amalan terbaik.

Lembaga Pengarah Lembaga Pengarah sentiasa mempunyai keseimbangan antara PengarahEksekutif dan Bukan Eksekutif. Pada lewat tahun ini, bilangan Pengarah BukanEksekutif Bebas telah bertambah sebagai mematuhi Keperluan PenyenaraianBSKL. Para Ahli Lembaga Pengarah juga telah dipilih supaya mewakilicampuran latar belakang pengalaman yang merangkumi bidang perundangan,kewangan, teknikal dan perniagaan yang begitu penting dalam memastikankejayaan hala tuju Kumpulan.

Lembaga Pengarah mengakui bahawa prinsip-prinsip tadbir urus korporatyang baik menandakan perlunya pembahagian tanggungjawab yang nyataantara pegendalian Lembaga Pengarah dan tanggungjawab eksekutif dalammengendalikan perniagaan Syarikat. Peranan Pengerusi dan Pengarah Urusantelah diasingkan dengan nyata.Y Bhg Tan Sri Dato’ Mohd Ramli bin Kushairi,seorang Pengarah Bukan Eksekutif, adalah seorang Pengarah Bebas Kanandalam Lembaga Pengarah yang dipertanggungjawabkan untuk menanganisemua isu pemegang saham.

Lembaga Pengarah biasanya mengadakan mesyuarat empat kali setiap tahunkewangan dan mesyuarat tambahan diadakan jika perlu. Bagi tahun kewangan2001, Lembaga Pengarah telah bermesyuarat sebanyak lima kali. Butir-butirmengenai mesyuarat tersebut dibentangkan seperti di bawah ini. Lazimnya,semua Pengarah Bukan Eksekutif akan menghadiri mesyuarat LembagaPengarah dan mesyuarat jawatankuasanya dan mengambil bahagiansepenuhnya dalam perbincangan mengenai perkara-perkara yang khususuntuk ditangani oleh Lembaga Pengarah.

The Chairman undertakes primary responsibility for organising information necessary for the Board to deal with the agendaand for providing this information to Directors on a timely basis. Timetables are set well in advance to ensure that adequateinformation can be circulated in a satisfactory form and timely manner. Due notice is given for all scheduled meetings.

Pengerusi memikul tanggungjawab utama menyusun maklumat yang perlu diuruskan oleh Lembaga Pengarah berhubung agendadan mengedarkan maklumat ini kepada para Pengarah pada masa-masa yang tepat. Jadual diatur terlebih dahulu bagi memastikansupaya maklumat yang secukupnya diedarkan dalam cara yang memuaskan dan menepati masa. Notis berkaitan diberi terlebihdahulu bagi semua mesyuarat yang dijadualkan.

Attendance at Board Meetings Kehadiran di Mesyuarat Lembaga Pengarah No. of meetings attended

Bil. mesyuarat dihadiri

Non-Executive Bukan EksekutifTan Sri Dato’ Ir Talha bin Haji Mohd Hashim 4Raja Dato’ Seri Eleena Azlan Shah 4Wong Chin Yen 5Tan Sri Dato’ Mohd Ramli bin Kushairi *** -Raja Dato’ Seri Abdul Aziz bin Raja Salim *** -Datuk Ab Rahman bin Omar *** -

Executive EksekutifDato’ Lin Yun Ling 5Dato’ Ir Kamarul Zaman bin Mohd Ali 5Ng Kee Leen 5Goon Heng Wah 4Ha Tiing Tai 5Saw Wah Theng 5Azmi Mat Nor ** 3Chow Chee Wah ** 3Heng Teng Kuang * 1Chan Kuan Nam @ Chan Yong Foo * 2

Total no. of meetings Jumlah mesyuarat 5

*** Appointed on 22.10.2001 Dilantik pada 22.10.2001** Attended as Alternate Director (appointed on 22.12.2000) Menghadiri sebagai Pengarah Pengganti (dilantik pada 22.12.2000)* Resigned on 01.08.2001 Meletak jawatan pada 01.08.2001

34 PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT



The Board has reserved for itself powers in respect of areas significant to the Group’s business including the approval of thecorporate plans and annual budgets; announcement on the quarterly results; acquisitions and disposals of segments of thebusiness; major investments and financial decisions; appointments to the Board and changes to the management and controlstructure within the Group; and other matters raised in relation to the related business of the Group. Due attention is alsogiven to ensure that significant business risks are identified and appropriately managed and adequate internal controls andmanagement information systems, including systems for compliance with applicable laws, regulations, rules, directives andguidelines are in place. Performance factors such as customer satisfaction, product and service quality, market reaction,environmental issues were also discussed.

To facil itate the smooth transaction ofbusiness within the Company, the Board hasestablished a number of standing committees.The terms of reference of each committeehave been approved by the Board and, whereapplicable, comply with the recommendationsof the Code.

The Board has three standing committees, theAudit Committee, the RemunerationCommittee and Nomination Committee. TheRemuneration and Nomination Committeeswere both established this year.

All Directors, except for the ManagingDirector, are required to submit themselvesfor re-election by the shareholders at the annual general meetings, at least onceevery three years.The Articles of Associationof the Company will be amended at the forthcoming Extraordinary GeneralMeeting to provide for all Directors tosubmit themselves for re-election at theannual general meetings at least once every three years.

Lembaga Pengarah mengkhususkan kuasa untuk Lembaga sahaja, beberapabidang yang penting kepada perniagaan Kumpulan termasuk kelulusanrancangan korporat dan belanjawan tahunan, pengumuman keputusan sukutahunan, pengambilalihan dan pelupusan segmen perniagaan, keputusanpelaburan dan kewangan utama; pelantikan ke Lembaga Pengarah danperubahan pengurusan serta struktur kawalan di dalam Kumpulan; danperkara-perkara lain yang berbangkit mengenai perniagaan berkaitanKumpulan. Perhatian yang sewajarnya juga diberi untuk memastikan risikoperniagaan yang ketara dikenalpasti dan ditangani dengan sewajarnya dansistem kawalan dalaman dan sistem maklumat pengurusan, termasuk sistempematuhan kepada undang-undang yang diterima pakai, peraturan, arahan dangaris panduan adalah mencukupi dan sedia ada. Faktor prestasi sepertikepuasan pelanggan, kualiti produk dan perkhidmatan, tindak balas pasaran,isu-isu alam sekitar juga dibincangkan.

Bagi urusan perniagaan di dalam Syarikat dijalankan dengan lancar, LembagaPengarah telah menubuhkan beberapa jawatankuasa tetap. Bidang tugas setiapjawatankuasa telah diluluskan oleh Lemabaga Pengarah dan, di mana sesuai,mematuhi cadangan yang disarankan oleh Kod.

Lembaga Pengarah mempunyai tiga jawatankuasa tetap iaitu JawatankuasaAudit, Jawatankuasa Imbuhan dan Jawatankuasa Pencalonan. JawatankuasaImbuhan dan Pencalonan telah ditubuhkan pada tahun ini.

Semua Pengarah, kecuali Pengarah Urusan dikehendaki menawarkan diri untukpemilihan semula oleh para pemegang saham di mesyuarat agung tahunan,sekurang-kurangnya tiga tahun sekali. Tataurusan Pertubuhan Syarikat akandipinda di Mesyuarat Agung Luarbiasa yang akan datang untuk membolehkansemua Pengarah menawarkan diri mereka untuk dipilih semula di mesyuaratagung tahunan sekurang-kurangnya sekali dalam masa tiga tahun.



All the Directors have direct access to the advice and services of the Company Secretary and the Group Internal AuditManager. Procedures are in place to facilitate the Directors, whether as a Board or in their individual capacity, to obtainindependent professional advice in furtherance of their duties, where required, at the Company’s expense.

All members of the Board have completed theMandatory Accreditation Programme, atraining prescribed by the KLSE. Additionally,relevant external and internal trainings andcourses are continuously been identified by theCompany's in-house Learning Centre for theDirectors to attend to equip themselves toeffectively discharge their duties as a Director.

A Statement by the Directors of theirresponsibilities for preparing the financialstatements is included in page 60 of theAnnual Report.

Audit CommitteeThe Committee has revised its terms ofreference, which is now consistent with thelatest KLSE Listing Requirements. The termsof reference, which outline the Committee'sfunctions and duties, and a summary of theCommittee’s activities are furnished in theAudit Committee report. The Chairman ofthe Committee is an Independent, Non-Executive Director appointed by the Board.

The Group Internal Audit Department (GIA)of the Company also performs internal auditfunctions of the Company’s subsidiaries. TheGIA provides the support and assistance tothe Committee in discharging theirresponsibilities.

The Committee has absolute authority to direct the GIA to conduct investigation onany matters within its terms of reference.

Semua Pengarah mempunyai akses langsung kepada nasihat dan khidmatSetiausaha Syarikat dan Pengurus Audit Dalaman Kumpulan. Berbagaiprosedur telah dilaksanakan untuk membolehkan para Pengarah, sama adadalam kapasiti mereka sebagai ahli Lembaga atau individu, mendapatkannasihat profesional bebas untuk menjalankan tugas mereka, mengikutkeperluan, di mana kosnya ditanggung oleh Syarikat.

Semua ahli Lembaga Pengarah telah menyelesaikan Program AkreditasiMandatori, satu latihan yang ditetapkan oleh BSKL. Di samping itu, pelbagailatihan dan khusus luaran dan dalaman berkaitan sentiasa dikenalpasti oleh Pusat Pembelajaran dalaman Syarikat untuk dihadiri oleh para Pengarahbagi mempersiapkan diri mereka dalam menjalankan tugas sebagai pengarahdengan berkesan.

Penyata oleh Pengarah-Pengarah berhubung tanggungjawab mereka dalammenyediakan penyata kewangan dibentangkan di muka surat 60 dalamLaporan Tahunan.

Jawatankuasa AuditJawatankuasa ini telah menyemak semula terma rujukannya yang kini selarasdengan Keperluan Penyenaraian BSKL. Bidang-bidang tugas tersebut yangmenggariskan fungsi dan tugas Jawatankuasa ini serta mengandungi saturingkasan aktiviti Jawatankuasa disediakan di dalam Laporan JawatankuasaAudit. Pengerusi Jawatankuasa ini adalah pengarah bebas, bukan eksekutifyang dilantik oleh Lembaga Pengarah.

Jabatan Audit Dalaman Kumpulan (GIA) Syarikat turut menjalankan fungsiaudit dalaman syarikat-syarikat subsidiari. GIA memberi sokongan danbantuan kepada Jawatankuasa ini dalam melaksanakan tanggungjawab mereka.

Jawatankuasa ini mempunyai kuasa mutlak untuk mengarahkan GIA menjalankan penyiasatan berhubung sebarang perkara di bawah bidang tugasnya.



The Committee met four times during the financial year.The attendance of each Committee member is furnished in the AuditCommittee report. Senior members of the Company’s external auditors, the Head of GIA and the Finance Director normallyattend the meetings.

The Committee meets annually with theexternal auditors without the presence ofExecutive Directors and management. It hasfull access to the auditors both internally andexternally who, in turn, have access at alltimes to the Chairman of the Committee.

Remuneration CommitteeThe members of the Committee are detailedin page 66 of the Annual Report.

The Committee has written terms ofreference and will assess all elements of theremuneration and other terms of employmentof Executive Directors.

The Committee recommends to the fullBoard the remuneration, fee and otherremuneration package payable to Executiveand Non-Executive Directors, drawing fromoutside advice where necessary. Theremuneration for all Directors aredetermined so as to ensure that theCompany attracts and retains the Directorsneeded to run the Group successfully.Executive Directors play no part in thedeliberations and decisions on their ownremuneration. The determination ofremuneration packages of Non-ExecutiveDirectors, including Non-Executive Chairmanis a matter for the Board as a whole with theindividuals concerned abstaining fromdiscussions and voting on decisions in respectof their own remuneration.

Jawatankuasa ini telah bermesyuarat empat kali pada tahun kewangan ini.Kehadiran setiap ahli Jawatankuasa ditunjukkan di dalam LaporanJawatankuasa Audit. Ahli-ahli kanan juruaudit luar Syarikat, Ketua GIA danPengarah Kewangan biasanya menghadiri mesyuarat-mesyuarat tersebut.

Jawatankuasa ini bermesyuarat setiap tahun dengan juruaudit luar tanpakehadiran para Pengarah Eksekutif dan pihak pengurusan. Ia mempunyai aksespenuh kepada juruaudit dalaman dan luar yang sebaliknya mempunyai aksessetiap masa kepada Pengerusi Jawatankuasa ini.

Jawatankuasa ImbuhanAhli-ahli Jawatankuasa ini dinyatakan secara terperinci di muka surat 126dalam Laporan Tahunan.

Jawatankuasa ini mempunyai terma rujukan yang tertulis dan akan menilai semula unsur imbuhan dan terma-terma pekerjaan lain bagi paraPengarah Eksekutif.

Jawatankuasa mencadangkan kepada Lembaga Pengarah penuh, imbuhan,yuran dan pakej imbuhan lain yang akan dibayar kepada para PengarahEksekutif dan Bukan Eksekutif, berasaskan nasihat luar mengikut kesesuaian.Imbuhan bagi semua Pengarah ditentu bagi memastikan supaya Syarikatmampu menarik dan mengekalkan para Pengarah yang diperlu untukmengurus Kumpulan dengan berkesan. Para Pengarah Eksekutif tidak terlibatdalam perbincangan dan membuat keputusan berkaitan dengan imbuhanmereka sendiri. Pakej imbuhan para Pengarah Bukan Eksekutif termasukPengerusi Bukan Eksekutif adalah perkara yang diputuskan oleh seluruh ahliLembaga Pengarah dengan individu berkaitan mengecualikan diri daripadaperbincangan dan pengundian bagi menentukan imbuhan mereka sendiri.



Where appropriate, other customary benefits were accorded to Directors. For instance, the Executive Directors were grantedshare options under the Employees’ Share Option Scheme (ESOS).

Details of Directors' remuneration and benefits during the year are as provided in page 104 of the Annual Report.

Nomination CommitteeThe Committee has established its terms of reference. It is responsible for makingrecommendations to the Board on all newBoard and Board Committee appointmentsand provides a formal and transparentprocedure for such appointments. TheCommittee will review the required mix of skills and experience of the Directors of the Board, in determining the appropriateBoard balance and size of non-executiveparticipation.

Internal Control The Board acknowledges its responsibility for the Group’s system of internal controland for reviewing its effectiveness in providingshareholders with a return on theirinvestments that is consistent with a responsible assessment and management of risks.

The Group's internal control system coversnot only financial controls but alsooperational and compliance controls as wellas risk management. The internal controlsystem involves each business and keymanagement from each business, including theBoard, and is designed to meet the Group’sparticular needs and to manage the risks towhich it is exposed.

Manfaat-manfaat lazim yang lain diberi kepada para Pengarah mengikutkesesuaian. Contohnya, para Pengarah Eksekutif diberi opsyen saham dibawah Skim Opsyen Saham Kakitangan (ESOS).

Butir-butir lanjut mengenai imbuhan dan manfaat para Pengarah pada tahunini ditunjukkan di mukasurat 164 dalam Laporan Tahunan.

Jawatankuasa PencalonanJawatankuasa Pencalonan telah membentuk terma rujukannya. Iabertanggungjawab untuk mengemukakan saranan kepada Lembaga Pengarahmengenai semua perlantikan Lembaga Pengarah dan Jawatankuasa LembagaPengarah yang baru serta menyediakan satu prosedur yang formal dan telusbagi perlantikan tersebut. Jawatankuasa ini akan mengkaji campurankemahiran dan pengalaman Lembaga Pengarah yang diperlukan bagimenentukan keseimbangan Lembaga Pengarah serta saiz penyertaan pengarahbukan eksekutif yang sewajarnya.

Kawalan DalamanLembaga Pengarah mengakui tentang tanggungjawabnya terhadap sistemkawalan dalaman Kumpulan dan keperluan untuk mengkaji keberkesanannyadalam menyediakan pulangan daripada pelaburan para pemegang saham,selaras dengan tanggungjawabnya untuk menilai dan mengurus risiko.

Sistem kawalan dalaman Kumpulan tidak merangkumi kawalan kewangansahaja, malah ia turut meliputi kawalan operasi dan pematuhan sertapengurusan risiko. Sistem kawalan dalaman melibatkan setiap perniagaan dan pengurusan utama setiap perniagaan termasuk Lembaga Pengarah dan bertujuan untuk memenuhi keperluan khusus Kumpulan serta mengurus risiko.



Because of the limitations that are inherent in any system of internal control such systems are designed to mitigate loss ratherthan eliminate the likelihood of fraud or error. Accordingly, these systems can provide only reasonable and not absoluteassurance against material misstatement or loss.The concept of reasonable assurance also recognises that the cost of controlprocedures should not exceed the expected benefits.

The Board has continued its ongoing processof identifying, evaluating and managing the keycommercial and financial risks facing thebusiness together with more general risks,such as those relating to compliance withlaws and regulations.The Group has in place aRisk Management Policy which will enhancecurrent risk management practices of theGroup, protect the business and evaluatebusiness strategies based on risk involved;provide a systematic linkage between riskmanagement and performance management;and provide key inputs for strategic value-maximising decision making and performancemanagement. Group Policies are also in placefor key issues including the management ofHealth and Safety, Environmental, Engineeringand Information Technology risks. There isfurthermore a Limits of Authority policy thatclearly delineates authorisation limits toensure proper identif ication ofaccountabilities and segregation of duties.Corporate values, which emphasise teamworking and ethical behaviour, have been fullycommunicated to staff.

Shareholders' Communications andInvestor Relations PolicyThe Board believes in clear and regularcommunications with its shareholders and institutional investors. In addition to the various announcements made duringthe year, the Annual Report and release of financial results on quarterly basis provide shareholders with an overview of the Group’s business activities andperformance.

Oleh kerana sebarang sistem kawalan dalaman mempunyai had keberkesanantertentu, sistem ini disediakan lebih bertujuan untuk mengurangkan kerugianberbanding dengan menghapuskan kemungkinan penipuan atau kesilapan.Sehubungan itu, sistem ini hanya mampu memberikan jaminan berpatutan danbukannya jaminan muktamad daripada salah penyataan atau kerugian ketara.Konsep jaminan berpatutan juga mengakui bahawa kos prosedur kawalantidak harus melebihi manfaat yang dijangkakan.

Lembaga Pengarah telah meneruskan proses mengenalpasti, menilai danmengurus risiko perdagangan dan kewangan utama yang dihadapi olehperniagaan berserta berbagai risiko umum lain, seperti risiko berkaitandengan pematuhan kepada undang-undang dan peraturan. Kumpulanmempunyai Dasar Pengurusan Risiko yang akan mempertingkatkan amalanpengurusan risiko semasa Kumpulan, melindungi perniagaan dan menilaiperniagaan secara strategik berasaskan kepada risiko yang terlibat;menyediakan satu sistem penghubung sistematik antara pengurusan risiko danpengurusan prestasi serta menyediakan input penting dalam pembuatankeputusan strategik yang memaksimumkan nilai serta pengurusan prestasi.Dasar-dasar Kumpulan juga sedia ada untuk menangani risiko berkaitan isu-isu utama termasuk pengurusan Kesihatan dan Keselamatan, Alam Sekitar,Kejuruteraan dan Teknologi Maklumat. Di samping itu, terdapat dasar KuasaTerhad yang membahagikan secara nyata penghadan kuasa bagi memastikanpengenalpastian akauntabiliti dan pengasingan tugas dibuat sewajarnya. Nilaikorporat yang memberi penekanan terhadap semangat berpasukan dankelakuan etika telah disampaikan sepenuhnya kepada kakitangan.

Dasar Komunikasi Pemegang Saham dan Perhubungan PelaburLembaga Pengarah percaya terhadap komunikasi yang nyata dan kerap denganpara pemegang sahamnya dan para pelabur institusi. Di samping berbagaipengumuman yang disiarkan pada tahun ini, Laporan Tahunan danpenyampaian maklumat keputusan kewangan setiap tiga bulan sekalimenyediakan kepada para pemegang saham satu tinjauan menyeluruhmengenai aktiviti dan prestasi perniagaan Kumpulan.



Enquiries by shareholders are dealt with as promptly as practicable. The Company has also for some years nowused the Annual General Meeting (AGM) as a means of communicating with its shareholders. The AGM is held in January each year. The Board encourages participationfrom shareholders by having questions and answers sessionduring the AGM where the Directors are available to discuss aspects of the Group's business activities and performance.

Shareholders can also obtain up-to-date information on theGroup’s various activities by accessing its website athttp://www.gamuda.com.my.

In addition, the Company maintains regular dialogues withinstitutional investors, fund managers and analysts with theaim of fostering the mutual understanding of objectives

Pertanyaan yang dikemukakan oleh para pemegang sahamditangani dengan pantas dan secara praktikal. Sejakbeberapa tahun lalu, Syarikat telah menggunakan MesyuaratAgung Tahunan (AGM) sebagai kaedah untuk berkomunikasidengan para pemegang sahamnya.AGM diadakan pada bulanJanuari setiap tahun. Lembaga Pengarah menggalakkanpenyertaan para pemegang saham dengan mengadakan sesisoal jawab di AGM di mana para Pengarah bersedia untukmembincangkan berbagai aspek berkaitan aktiviti danprestasi perniagaan Kumpulan.

Para pemegang saham juga boleh mendapatkan maklumatterkini mengenai berbagai aktiviti Kumpulan denganmelayari laman webnya di http://www.gamuda.com.my.

Di samping itu, Syarikat mengadakan dialog dengan parapelabur institusi, pengurus dana dan penganalisis dengantujuan untuk memupuk semangat saling memahami antarasatu sama lain mengenai objektifnya.


fast-forwardinginto the future

melangkahpantaskehadapan

42 CHAIRMAN’S STATEMENT PENYATA PENGERUSI

On behalf of the Board of Directors, I am pleased to present the Eleventh Annual Report and Audited Accounts ofGamuda Berhad for the financial year ended 31 July 2001.

BUSINESS ENVIRONMENTAn open, trade-oriented economy likeMalaysia’s will continue to be influenced bythe ebb and flow of the global economy. Butwe believe Malaysia’s economic fundamentalsto be strong and the country will continue tobe on track for sustainable long-term growth.It was the same conditions that allowedMalaysia to recover earlier than ourneighbours from the major economiccontraction of 1998.

For the year just ended, Gamuda chalked up anet profit of RM191.7 million and an earningsper share of 29 sen compared to a net profitof RM146.8 million or 23 sen per share in thesame period for the previous year.

Saya bagi pihak Lembaga Pengarah dengan sukacitanya membentangkanLaporan Tahunan Kesebelas dan Akaun Gamuda Berhad yang telah Diauditbagi tahun kewangan berakhir 31 Julai 2001.

PERSEKITARAN PERNIAGAANSebuah ekonomi terbuka berorientasikan perdagangan seperti ekonomiMalaysia sudah tentu akan dipengaruhi oleh pasang surut dan aliran ekonomiglobal. Walau bagaimanapun, kami percaya bahawa fundamental ekonomiMalaysia adalah teguh dan negara kita akan terus berada di landasan yangtepat bagi mencapai pertumbuhan jangka panjang yang mampan. Keadaanseperti inilah juga yang telah membolehkan Malaysia mencapai pemulihandaripada penguncupan ekonomi yang ketara pada tahun 1998 lebih awalberbanding jiran-jirannya yang lain.

Bagi tahun yang baru sahaja berakhir, Gamuda mencatatkan keuntunganbersih sebanyak RM191.7 juta dan pendapatan sesaham sebanyak 29 senberbanding keuntungan bersih sebanyak RM146.8 juta atau 23 sen sesahamsepanjang tempoh yang sama pada tahun sebelumnya.

Prestasi Kumpulan yang bertambah baik ini bukan sahaja disebabkan oleh keputusan Kumpulan daripada aktiviti perniagaannya yang telahbertambah baik, malah turut disebabkan oleh persekitaran perniagaankeseluruhan yang menggalakkan. Dasar fiskal dan kewangan Kerajaan yangmendorong pertumbuhan pada tahun 2001 telah meresapi ke seluruhekonomi untuk menjana pertumbuhan yang lebih teguh dalam sektorpembinaan dan perkhidmatan.

Walaupun menghadapi persaingan hebat dalam industri pembinaan, Gamudamampu mempertingkatkan pendapatannya dalam sektor pembinaan melaluibuku pesanan yang bernilai RM1.8 bilion. Syarikat terlindung daripada kesanvolatiliti di pasaran kerana memiliki nilai buku pesanan yang tinggi danmenikmati pendapatan berulang daripada konsesi air dan tol.

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LEADKAMI MENERAJUI


Chairman Pengerusi

CHAIRMAN’S STATEMENT PENYATA PENGERUSI 43

Pengalaman luas kami dalam bidang kejuruteraan awam dan perniagaan pembinaan yang digabung dengan falsafah berhemat,pasukan pengurusan yang unggul dan keteguhan kunci kira-kira telah bersama-sama membolehkan Kumpulan mencipta namasebagai sebuah Kumpulan yang berwibawa, inovatif dan efektif dari segi kos.

PRESTASI KEWANGANBagi tahun kewangan berakhir Julai, Gamudaberjaya mencatat pertambahan perolehansebanyak 30 peratus, dengan keuntungansebelum cukai meningkat sebanyak 34 peratusdan keuntungan bersih sebanyak 31 peratus.Selain daripada pendapatan yang diperolehidaripada pembinaan, keputusan kamidiperkukuhkan lagi oleh sumbangan yangsemakin meningkat daripada pendapatankonsesi tol dan air yang menyediakan asaspendapatan mantap kepada Kumpulan.Prestasi keseluruhan yang bertambah baik initelah dipertingkatkan lagi oleh kerja-kerjapembinaan yang dijalankan secara fast-trackbagi projek air SSP3 dan penyiapan Pakej Adan B Lebuhraya SPRINT.

Pembinaan terus menjadi penyumbangterbesar kepada keuntungan sebelum cukai(PBT) Kumpulan dengan kira-kira RM125.6juta atau 46 peratus daripada jumlah PBT.Pendapatan daripada konsesi infrastrukturmenyumbang RM106.4 juta atau 39 peratuskepada keuntungan sebelum cukai, sementarahartanah pula mempertingkatkansumbangannya kepada 9.7 peratus atau RM27juta kepada keuntungan sebelum cukaiberbanding RM17 juta pada tahun lepas.Sementara baki 5 peratus PBT adalah hasilsumbangan bahagian perkilangan dan lain-lain.

The improved performance of the Group is due not only to the Group’sbetter results from its activities, but the overall encouraging businessenvironment. In 2001 the Government’s expansionary fiscal and monetarypolicies filtered through the economy in terms of stronger growth in theconstruction and service sectors.

Despite tough competition in the construction industry, Gamuda hasmanaged to boost its construction earnings through its order book of RM1.8 billion. The Company is shielded from the volatility in the marketbecause of this large order book and the recurring income from water andtoll road concessions.

Our years of experience in the civil engineering and construction business,combined with a philosophy of prudence, a sound management team, and astrong balance sheet, have together enabled the Group to achieve itsreputation for reliability, innovation and cost effectiveness.

FINANCIAL PERFORMANCEFor the financial year ending July, Gamuda’s turnover for the period increasedby 30 percent, with pre-tax and net profit increasing by 34 percent and 31percent respectively. In addition to the income from construction, our resultswere further bolstered by increased contributions from our toll road andwater concessions earnings which provide a steady income base for theGroup.The improved overall performance was also helped by timely progressof fast-tracking construction works on the SSP3 water project and thecompletion of Packages A and B of the SPRINT Highway.

Construction continues as the biggest contributor to the Group’s profit beforetax (PBT), with about RM125.6 million or 46 percent of total PBT. Income frominfrastructure concessions contributed RM106.4 million or 39 percent of pre-tax profit while property increased its contribution to 9.7 percent of pre-taxprofit at RM27 million, compared with RM17 million last year.The balance of 5percent PBT was contributed by manufacturing and others.

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FACILITATE44 REVIEW OF OPERATIONS TINJAUAN OPERASI

KAMI MEMUDAHCARA

Significantly, the Group has succeeded to achieve growth despite the 1997 financial crisis and the ensuing slowdown. Ourstrategy of innovation and making an entry into water-related activities has ensured that our momentum of growth will not beaffected. All major divisions showed strong growth. Overall, associate earnings from toll roads, water treatment and propertygrew by 66 percent.

The major business activities during the year were:• Construction• Infrastructure Concessions• Property Development• Manufacturing and Others

CONSTRUCTIONThis sector, contributing 46 percent of totalpre-tax profit, continues to be the majorprofit driver for the Group with mainearnings from the construction of Packages A and B of the SPRINT Highway. BothPackages; the Damansara Link and theKerinchi Link, were recently completed sixmonths ahead of schedule. Works have nowbegun on the RM420 million Package C (thePenchala Link), and this spine road will give afillip to urban development in the Penchala,Bukit Lanjan and Sungai Buloh area. It includesa 700-metre twin tunnel and will becompleted in 36 months.

Construction of the RM2.1billion SungaiSelangor Water Supply Scheme Phase 3 (SSP3), the last major water resource in thestate of Selangor, commenced in early 2000and is ahead of schedule. As at August 2001,the Rasa water treatment plant has beencompleted and will be fully operational by endof 2001.

Walaupun menempuh detik sukar akibat krisis kewangan pada tahun 1997dan kesan kemelesetan selepasnya, namun Kumpulan berjaya mencapaipertumbuhan ketara. Strategi kami yang berteraskan inovasi dan langkahmemasuki ke dalam aktiviti berkaitan air telah memastikan momentumpertumbuhan kami tidak terjejas. Semua bahagian menampilkan pertumbuhanyang memberangsangkan. Secara keseluruhan, pendapatan syarikat-syarikatbersekutu daripada jalan bertol, loji rawatan air dan hartanah menikmatipertumbuhan sebanyak 66 peratus.

Lidwina Anak Gaong

Site Engineer Jurutera Tapak

REVIEW OF OPERATIONS TINJAUAN OPERASI 45

Aktiviti perniagaan utama pada tahun ini meliputi:• Pembinaan• Konsesi Infrastruktur• Pembangunan Hartanah• Perkilangan dan Lain-lain

PEMBINAANSektor ini yang menyumbang sebanyak 46 peratus kepada jumlah keuntungan sebelum cukai terus menjadi pendorongkeuntungan utama kepada Kumpulan dengan pendapatan utamanya adalah daripada pembinaan Lebuhraya SPRINT Pakej A dan B.Kedua-dua Pakej; Hubungan Damansara dan Hubungan Kerinci telah disiapkan baru-baru ini iaitu enam bulan lebih awal daripadayang dijadualkan. Kini kerja telah dimulakan ke atas Pakej C bernilai RM420 juta (Hubungan Penchala) dan jalan tulang belakangini akan mendorong pembangunan kawasan bandar di Penchala, Bukit Lanjan dan Sungai Buloh. Projek ini meliputi sebuahterowong berkembar sepanjang 700 meter dan akan disiapkan dalam tempoh 36 bulan.

Pembinaan bagi Skim Bekalan Air Sungai Selangor Fasa 3 (SSP3) bernilai RM2.1 bilion, sumber air utama di negeri Selangor, telahdimulakan pada awal tahun 2000 dan mendahului jadual. Menjelang bulan Ogos 2001, loji rawatan air Sungai Rasa telah disiapkandan akan beroperasi sepenuhnya menjelang akhir tahun 2001.

Lebuhraya SPRINTLebuhraya SPRINT, lebuhraya bertol ketiga dalam Kumpulan, adalah sebuah sistem rangkaian jalanraya bandar bertol terbukasejauh 26 km di sebelah barat Kuala Lumpur. Kini, ia mempunyai 11 persimpangan bersilang yang membolehkan pemandumenikmati pemanduan yang lebih mudah, pantas dan selamat melalui Hubungan Damansara dan Hubungan Kerinchi. HubunganKerinchi menampilkan struktur dua tingkat yang menyediakan hubungan paling pendek antara Lebuhraya Persekutuan ke Jalan

Damansara dan NKVE di Jalan Duta.Hubungan Damansara ini menghubungkanPetaling Jaya ke Jalan Semantan. Pembinaankedua-dua hubungan ini bermula pada tahun1999 dan siap pada bulan Jun tahun ini.Hubungan ketiga Lebuhraya SPRINT iaituHubungan Penchala akan mempunyai sebuahterowong berkembar sepanjang 700 meterdan menyediakan hubungan terus antarakoridor Sungai Buloh-Damansara ke MontKiara/Duta. Ia akan disiapkan pada tahun2003.

SPRINT HighwayThe SPRINT Highway, the third toll highway within the Group, is an open toll26km urban road network system in the west of Kuala Lumpur. Currently ithas 11 interchanges allowing for convenient, faster and safer travel formotorists on both the Damansara and Kerinchi Links. The Kerinchi Linkfeatures a double-deck structure providing the shortest connection betweenthe Federal Highway to Jalan Damansara and the NKVE in Jalan Duta. TheDamansara Link connects Petaling Jaya to Jalan Semantan. Construction onthese two links began in 1999 and they were completed in June this year.Thethird link of the SPRINT Highway, the Penchala Link will feature a 700m twintunnel and provides a direct link for Sungai Buloh-Damansara corridor toMont Kiara/Duta. It will be completed in 2003.

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CREATE46 REVIEW OF OPERATIONS TINJAUAN OPERASI

Sungai Selangor Water Supply Scheme Phase 3 (SSP3)Construction of the SSP3, consisting of a regulating dam and reservoir in Kuala Kubu Baru, water intake and treatment plants inRasa and Bukit Badong, and the realignment of the KKB-Bukit Fraser road, began in 2000. Carried out in stages, the RM2.1billion project will be completed in 2004.

The progress achieved to date is about a thirdof the development. The realignment of a section of KKB-Bukit Fraser road has been completed and was opened totraffic in September 2001. The diversiontunnel, which is part of the Sungai SelangorDam has also been completed. As atSeptember 2001, the progress achieved forthe Sungai Selangor dam was 33 percent,while 34 percent of Bukit Badong whichcomprises of a river-intake and treatmentplant has been completed.

India HighwayWe have secured a road up-grading project in India that will generate an estimatedRM300 million worth of construction workfor the Company. The 63km national highwayproject between Panagarh and Palsit in theeastern India state of West Bengal will be builtunder a 15-year concession awarded by theIndian Government.

Skim Bekalan Air Sungai Selangor Fasa 3 (SSP3)Pembinaan SSP3 yang meliputi sebuah empangan kawalan dan tempatsimpanan air di Kuala Kubu Baru, loji pengambilan dan rawatan air di Rasa danBukit Badong serta penjajaran semula Jalan KKB-Bukit Fraser telah dimulakanpada tahun 2000. Projek bernilai RM2.1 bilion yang dijalankan secaraberperingkat ini akan disiapkan pada tahun 2004.

Sehingga kini, ia telah mencapai kira-kira satu pertiga peringkat penyiapan.Penjajaran semula satu bahagian di Jalan KKB-Bukit Fraser telahpun disiapkandan dibuka kepada lalu lintas pada bulan September, 2001.Terowonglencongan yang merupakan sebahagian daripada Empangan Sungai Selangortelahpun disiapkan. Pada bulan September 2001, pembinaan Empangan SungaiSelangor telah mencapai peringkat 33 peratus siap, sementara pembangunanloji pengambilan dan rawatan air sungai di Bukit Badong telah mencapai tahap34 peratus siap.

Lebuhraya IndiaKami telah memperolehi projek peningkatan taraf jalan di India yang akanmenjana kerja pembinaan bernilai kira-kira RM300 juta kepada Syarikat.Projek lebuhraya kebangsaan sejauh 63 km antara Panagarh dan Palsit dinegeri Bengal Barat di timur India ini dibina di bawah sebuah konsesi selama15 tahun yang diberikan oleh Kerajaan India.

KAMI MENCIPTA

Our highways save time

Lebuhraya kami menjimatkan masa


KONSESI INFRASTRUKTURSektor ini dijangka akan menyediakan sumbangan yang lebih besar kepada hasil Kumpulan. Pada tahun yang baru sahaja berakhir,konsesi tol dan rawatan air memberi sumbangan yang lebih tinggi kepada pendapatan. Tol menyumbang 23 peratus kepadakeuntungan sebelum cukai sementara rawatan air pula menyumbang sebanyak 15 peratus. Kedua-dua sumber hasil ini akan tetapmenyediakan asas pendapatan yang stabil dan berulang kepada Kumpulan. Lebuhraya SPRINT merupakan sumber hasil tol yangterbaru bagi Kumpulan. Secara keseluruhan, hasil tol daripada operasi lebuhraya mendapat manfaat daripada pertambahan volumtrafik dan hakikatnya, lebuhraya Kumpulan merupakan hubungan bandar yang penting di koridor barat Kuala Lumpur danPetaling Jaya.

LITRAK, KESAS dan SPRINT merupakansyarikat bersekutu Gamuda. LITRAK,pemegang konsesi LDP, ialah sebuah syarikat40 peratus milik Gamuda dan merupakansyarikat operasi lebuhraya pertama di Malaysiayang disenaraikan di BSKL.

Lebuhraya Damansara-Puchong (LDP)LDP yang dikendalikan oleh Lingkaran TransKota Holdings Berhad (LITRAK) mempunyaivolum trafik yang mencapai 280,000kenderaan sehari. Semakin banyak kenderaanmelalui lebuhrayanya setiap hari berikutanpembangunan beberapa hartanah perdagangandan kediaman yang tumbuh bagai cendawan disepanjang dan berhampiran LDP. Ini sebaliknyadijangka akan mendorong kepadapertumbuhan trafik di LDP.

Satu Pelan Peningkatan Kapasiti Lebuhrayauntuk memenuhi keperluan bi langanpengguna LDP yang semakin bertambahsedang dirangka bagi memudahkan aliran danpenyuraian lalu lintas dan bagi membolehkankelancaran perjalanan di sepanjang LDP. Kamimenjangka akan mencapai kira-kira 10peratus pertumbuhan trafik pada tahun inisejajar dengan kepesatan aktiviti ekonomi diLembah Klang.

INFRASTRUCTURE CONCESSIONSIt is envisaged that this sector will increasingly contribute higher earnings tothe Group’s revenue. In the year just ended, there is higher contribution toearnings from the tolling and water treatment concessions. Tollingcontributed 23 percent of pre-tax profit while water treatment contributed15 percent. These two revenue sources will provide the Group with asteady and recurring income base. SPRINT Highway is the most recentsource of toll revenue for the Group. Overall, toll revenue from expresswayoperations has benefited from the increase in traffic volume, and from thefact that its highways are vital urban linkages in the western corridors ofKuala Lumpur and Petaling Jaya.

LITRAK, KESAS and SPRINT are associated companies of Gamuda. LITRAK,the concessionaire for the LDP, is 41 percent owned by Gamuda and was thefirst highway operator in Malaysia to be listed on the KLSE.

Lebuhraya Damansara-Puchong (LDP)Operated by Lingkaran Trans Kota Holdings Berhad (LITRAK), LDP trafficvolume has reached 280,000 vehicles per day. Daily, more vehicles ply itshighway as a result of the mushrooming growth of commercial andresidential properties along and adjacent to the LDP.This in turn is expectedto lead to greater traffic growth on the LDP.

A Highway Capacity Enhancement Plan to accommodate the increasingnumber of LDP users is being put into place in order to facilitate trafficflow and dispersal, and for smoother travel along the LDP.We expect trafficgrowth to continue in line with the economic activity of the Klang Valley.

48 REVIEW OF OPERATIONS TINJAUAN OPERASI

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EMPOWERKAMI

MENGAMANAH KUASA

Lebuhraya Shah Alam (LSA)KESAS Sdn Bhd is the concessionaire and expressway operator of LSA, a 34.5km east-west link from Sri Petaling Interchange toPandamaran Interchange, the access road to Westport near Port Klang. LSA is now registering toll traffic volume of about220,000 vehicles daily, increasingly becoming a vital route for travel to the south and southwest of the city via the easternalignment of the Middle Ring Road 2. LSA has been the stimulus for township development and other commercial activitiesalong its corridor that shall in turn promote further use of the highway.

Sistem Penyuraian Trafik KL Barat(SPRINT)Completed six months ahead of schedule inJune this year, the SPRINT Highway is theWestern KL Traffic Dispersal Scheme withthree much needed linkages to service trafficthrough the western corridor of KualaLumpur.The Damansara Link and the KerinchiLink began operation in June and started tollingin September 2001.A 3km, 2-lane parallel toll-free road, the only one of its kind in thecountry, was also built as an alternative forcommuters. The Damansara Link and theKerinchi Link have a daily traffic volume ofabout 90,000 vehicles per day.

Construction work has begun on the Penchala Link or Package C of theSPRINT Highway that will provide a fasterand direct link for the newly developed SungaiBuloh-Damansara corridor to Mont Kiara andJalan Duta.

India Highway- Panagarh-Palsit Road ProjectThe concession agreement for the project wassigned 21 November 2001. This projectinvolves the upgrading of a two-lane to four-lane 64km highway between Delhi andCalcutta. Total project cost is RM420 millionand a special purpose vehicle in which Gamudahas a 50 percent stake will finance, build,operate and maintain the highway. Instead ofcollecting toll, the Group will be paid annuityover a concession period of 15 years.

Lebuhraya Shah Alam (LSA)KESAS Sdn Bhd, pemegang konsesi yang mengendalikan lebuhraya LSA,sebuah hubungan timur-barat sepanjang 34.5km dari Persimpangan BersilangSri Petaling ke Persimpangan Bersilang Pandamaran, jalan akses ke Westport berhampiran Pelabuhan Klang. Kini, LSA mencatatkan volumtrafik bertol kira-kira 220,000 kenderaan setiap hari dan semakin menjadilaluan penting bagi perjalanan menuju ke selatan dan barat daya bandarayamelalui penjajaran timur Jalan Lingkaran Tengah 2. LSA menjadi pendorongkepada pembangunan perbandaran di kawasan ini dan pelbagai aktivitikomersial lain di sepanjang koridornya yang sebaliknya akan menggalakkanpenggunaan lebuhraya ini.

We plan for our growth and countinuity

Kami merangcang untuk kemajuan dan kesinambungan


Sistem Penyuraian Trafik KL Barat (SPRINT)Lebuhraya SPRINT yang disiapkan enam bulan lebih awal, adalah Skim Penyuraian Trafik KL yang mempunyai tiga hubungan yangamat diperlukan bagi menyediakan kemudahan kepada trafik melalui koridor barat Kuala Lumpur. Hubungan Damansara danHubungan Kerinchi telah memulakan operasinya pada bulan Jun dan memulakan pengutipan tol pada bulan September 2001.Hubungan sejauh 3km, dengan 2 lorong selari tanpa tol ini yang merupakan satu-satunya jalan seumpamanya di negara ini jugadibina sebagai jalan alternatif untuk para pemandu yang kerap menggunakan jalan ini. Kini, Hubungan Damansara dan HubunganKerinchi mempunyai volum trafik kira-kira 90,000 sehari.

Kerja pembinaan telah dimulakan bagi Hubungan Penchala atau Lebuhraya SPRINT Pakej C yang akan menyediakan hubungan yanglebih pantas dan terus bagi koridor Sungai Buloh-Damansara yang baru dibangunkan ini ke Mont Kiara dan Jalan Duta.

Lebuhraya India - Projek Jalan Panagarh-PalsitPerjanjian konsesi bagi projek ini telah ditandatangani pada 21 November 2001. Projek ini melibatkan peningkatan taraflebuhraya dua lorong kepada empat lorong sejauh 64 km antara Delhi dan Calcutta. Projek ini melibatkan kos berjumlah RM420juta dan merupakan satu projek untuk tujuan khusus di mana Gamuda yang memiliki 50 peratus kepentingan di dalamnya akanmembiayai, membina, mengendali dan menyenggara lebuhraya ini. Oleh kerana ia tidak akan mengutip tol di lebuhraya ini,Kumpulan akan dibayar anuiti sepanjang tempoh konsesi selama 15 tahun.

SPLASHDi samping merupakan pengendali lebuhraya tol terbesar di Lembah Klang, kini Gamuda telah melancarkan beberapa projekbekalan air. Apabila SSP3 disiapkan sepenuhnya menjelang tahun 2005, Syarikat Pengeluar Air Sungai Selangor atau SPLASH, akanmenjadi salah sebuah pengeluar air terbesar di Malaysia dengan SSP1 dan SSP3 mempunyai kapasiti gabungan yang mampumerawat dan membekalkan 2,000 juta liter air sehari. SPLASH ialah sebuah syarikat bersekutu 30 peratus milik Gamuda.

PEMBANGUNAN HARTANAHDengan kepakaran mantap dalamkejuruteraan awam dan pembinaan, Gamudabersama DRB-Hicom telah melancarkansebuah projek pembangunan perbandaranseluas 1,820 ekar di Kota Kemuning, disebelah Lebuhraya Shah Alam pada tahun1994. Dengan kejayaannya menyerahkankediaman berkualiti dan membangunkansebuah suasana kehidupan masyarakat yangtiada tandingannya dalam industri, baru-baruini Gamuda telah melancarkan satu lagipembangunan perbandaran iaitu BandarBotanic di Klang dan sebuah pembangunankediaman eksklusif, Valencia berhampiranPersilangan Bertingkat Sungai Buloh diLebuhraya Utara-Selatan.

SPLASHBesides being the largest operator of toll highways in the Klang Valley,Gamuda has now embarked on water supply projects. When SSP3 is fullycompleted in 2005, Syarikat Pengeluar Air Sungai Selangor Sdn Bhd orSPLASH, will become one of the largest water producers in Malaysia withboth SSP1 and SSP3 having the combined capacity to treat and supply 2,000million litres of water per day. SPLASH is a 30 percent owned associatedcompany of Gamuda.

PROPERTY DEVELOPMENTBuilding on our expertise in civil engineering and construction, Gamuda,together with DRB-Hicom launched a 1,820-acre township developmentproject in Kota Kemuning, adjacent to the Shah Alam Expressway in 1994.Successful in delivering quality homes and developing a community feeling that is unequaled in the industry, Gamuda has recently launchedanother township development, Bandar Botanic in Klang and an exclusiveresidential development, Valencia near the Sungai Buloh Interchange of theNorth-South Expressway.


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LISTENIn residential/township development the focus is on innovative, lifestyle and quality homes to meet the middle class family’severy need, and strategic location in growth corridors of the Klang Valley. Kota Kemuning has sold more than 2,600 units sinceits re-launch in 1999 and it boasts a championship-standard golf course that for the fourth consecutive year has been thechosen venue for the Volvo Masters of Malaysia.

Bandar Botanic, the second township project, is spread over 1,242 acres in Klang and over 600 units have been booked since itssoft launch in July 2001.The high-end 285-acre development of Valencia is in an exclusive neighbourhood near Sungai Buloh withthe country’s first residents’ only golf course.

Gamuda Land, the Group’s property division,is building on our tradition of deliveringexcellence by value-adding and providinginnovative solutions to serve our customersbetter. This financial year, property earningsimproved, contributing 10 percent of theGroup’s total earnings.

Kumpulan memberikan fokus utama terhadap inovasi, gaya hidup dan kualitikediaman dalam aktiviti pembangunan kediaman/perbandarannya bagimemenuhi setiap keperluan keluarga kelas pertengahan dan kedudukan lokasiyang strategik di koridor pertumbuhan Lembah Klang. Sejak dilancarkansemula pada tahun 1999, sebanyak 2,600 unit kediaman Kota Kemuningberjaya dijual dan ia boleh berbangga mempunyai sebuah padang golf bertarafantarabangsa kerana ia telah dipilih sebagai tempat bagi pertandingan VolvoMasters of Malaysia untuk tahun keempat berturut-turut.

Bandar Botanik, projek perbandaran kedua, terbentang di kawasan seluas1,242 ekar di Klang dan lebih 600 unit telah ditempah sejak pelancaranawalnya pada bulan Julai 2001. Pembangunan Valencia seluas 285 ekar untukkelas atasan pula terletak di sebuah kejiranan eksklusif berhampiran SungaiBuloh dan ia mempunyai satu-satunya padang golf khusus untuk pendudukyang pertama di negara ini.

Gamuda Land, bahagian hartanah Kumpulan, membina tradisi Kumpulanmempertingkatkan tahap kecemerlangan dengan menambah nilai danmenyediakan penyelesaian inovatif untuk menyediakan perkhidmatan lebihbaik kepada para pelanggan. Pada tahun kewangan ini, bahagian hartanahmencatat peningkatan dengan menyumbangkan 10 peratus daripada jumlahpendapatan Kumpulan.

KAMI PRIHATIN

Liew Sheong Perk

IT Executive Eksekutif IT


PERKILANGANDalam bidang perkilangan, Gamuda terlibat dalam operasi perkuarian, pengilangan kertas salinan tanpa karbon, pembuatan bateriboleh dicas semula polimer lithium, sewa loji pembinaan dan perkhidmatan maklumat.

Sumbangan Mega Sewa telah meningkat dengan ketara disebabkan oleh permintaan yang lebih tinggi bagi penyewaan loji danperalatan. Kerja-kerja pembinaan yang sedang dilaksanakan di Pakej C dan SSP3 akan memastikan ia mempunyai aliranpendapatan yang kukuh untuk tempoh beberapa tahun akan datang.

G B Kuari merupakan sebuah pembekal premix dan agregat berkualiti untuk pembinaan jalan dan kerja-kerja penyenggaraan dantelah mencapai keputusan yang memuaskan berikutan kecekapan yang semakin baik. Penyambungan projek infrastruktur di negeriPerak seperti Lebuhraya Ipoh-Lumut dan landasan keretapi dua hala Ipoh-Rawang akan melonjakkan permintaan produk kuari.

Walaupun menghadapi keadaan pasaran yanglemah akibat lambakan oleh para pengimport,Gamuda Paper Industries (GPI) berupayamemperbaiki perolehannya dan mengekalkankepimpinannya di dalam pengilangan kertastidak memerlukan karbon (NCR).

Dyna Plastics, pengilang bateri polimerlithium ion sedang memasuki fasa akhirpentauliahan langkah automasi kemudahanpengeluarannya yang dijangka akandilaksanakan menjelang akhir tahun ini.

(GIT Services), yang merupakan sebuahsyarikat subsidiari milik penuh Gamuda, telahditugaskan untuk melaksanakan penyelesaianIT dan beberapa model e-perniagaan bagiKumpulan. Pengalaman yang diperolehi olehGIT daripada pembinaan asas digital untukberbagai aktiviti perniagaan Gamuda –daripada membuat keputusan mengenaiperkara-perkara teknikal, rekabentuk lebihbaik, tindak balas lebih pantas dan masa pusingganti bagi projek-projek pembinaan kami akanmemberi nilai yang amat tinggi kepadaKumpulan secara keseluruhannya. GIT telahmerekebantuk dan membangunkan sistempemprosesan sepusat untuk pembayaransecara elektronik bagi LITRAK, SPRINT danKESAS. Baru-baru ini ia juga telahmelancarkan fasa pertama Portal e-Projekuntuk syarikat subsidiary pembinaan kami,Gamuda Engineering dalam usaha sistematikuntuk menggabungkan teknologi berasaskanweb dengan proses perniagaan kami.

MANUFACTURING & OTHERSGamuda has several businesses involved in quarrying, the manufacture ofcarbonless copy paper, manufacture of polymer lithium ion rechargeablebatteries, construction plant hire, and information services.

Megah Sewa’s contribution increased significantly as a result of higherdemand for construction plant and equipment hire. On-going works at PackageC and SSP3 will ensure its steady stream of earnings for the next few years.

G B Kuari is a supplier of quality premix and aggregates for roadconstruction and maintenance works and has had a satisfactory year onimproved efficiency. The revival of infrastructure projects in the state ofPerak such as the Ipoh-Lumut Expressway and the Ipoh-Rawang railwaydouble-tracking should boost demand for quarry products.

Despite a more volatile market caused by dumping by importers, GamudaPaper Industries (GPI), has managed to improve its turnover and maintain itsmarket leader position in the manufacture of non-carbon required (NCR) paper.

Dyna Plastics, the manufacturer of polymer lithium ion batteries is enteringthe final phases of commissioning its automated production facilities,expected by the end of the year.

GIT Services, which is a wholly-owned subsidiary, has been tasked toimplement IT solutions and e-business models for the Group.The experienceobtained by GIT from constructing a digital foundation for Gamuda’sbusiness activities – from decision-making on technical matters, betterdesigns, faster response and turnaround time for our construction projectswill be invaluable for the Group as a whole. GIT designed and developed thecentral processing system for electronic payment for LITRAK, SPRINT andKESAS. It also recently launched the first phase of the e-Project Portal forour construction subsidiary, Gamuda Engineering to combine web-basedtechnologies with our business processes.


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INSP IREKAMI

MENCETUS ILHAM

HUMAN RESOURCE DEVELOPMENTOur Group has been driven by entrepreneurship but a critical element of our growth has been the competitiveness of ourworkforce. Gamuda invests in and develops its people.We believe that new ideas, knowledge and expertise are the true enginesof growth.To enhance the talent and inventiveness of our employees, the Gamuda Learning Center provides training workshopsand seminars for all levels and categories of staff throughout the year. Our main challenge is to ensure high professionalstandards in the construction industry and in line with this a special training school with an initial investment of RM10 millionwas set up to train crane operators and upgrade the skills and safety practices of construction workers. Gamuda PlantOperator School (GPOS), established in 1997 is recognised and accredited by DOSH (Department of Occupational Safety andHealth) and CIDB (Construction Industry Development Board) and to date has trained 11,000 workers both from within andfrom around the country.

PEMBANGUNAN SUMBER MANUSIASejak sekian lama, semangat keusahawanan telah menjadi pendorong kepadaKumpulan kami, namun unsur penting dalam pertumbuhan kami adalah dayasaingan yang dimiliki oleh warga kerja kami. Gamuda melabur dalam danmemajukan tenaga manusianya. Kami percaya bahawa idea-idea baru, ilmupengetahuan dan kepakaran menjadi penggerak pertumbuhan yang sebenar.Bagi mempertingkatkan bakat dan daya penciptaan kakitangan kami, GamudaLearning Center menyediakan berbagai bengkel latihan dan seminar untuksemua peringkat dan kategori pekerja sepanjang tahun ini. Cabaran utamayang kami hadapi adalah untuk memastikan bahawa standard profesional yangtinggi wujud di dalam industri pembinaan dan selaras dengan matlamattersebut, sebuah sekolah latihan khas dengan pelaburan permulaan berjumlahRM10 juta telah ditubuhkan bagi melatih operator kren danmempertingkatkan kemahiran serta amalan keselamatan di kalangan parapekerja pembinaan. Sejak penubuhannya pada tahun 1997, Gamuda PlantOperator School (GPOS) yang diiktiraf dan diakreditasi oleh DOSH (JabatanKeselamatan dan Kesihatan Pekerjaan) dan CIDB (Lembaga PembangunanIndustri Pembinaan) telah melatih seramai 11,000 pekerja dari seluruh negarasehingga kini.

Koh Chun Yuen

Supervisor Penyelia


Baru-baru ini, Kumpulan telah memulakan inisiatif untuk memberi Anugerah Pengurusan Terbaik kepada kakitangannya dalamenam kategori (perancang terbaik, kualiti terbaik, inovasi terbaik, keusahawanan terbaik, jurulatih terbaik dan pelajar terbaik)sebagai mengiktiraf usaha individu dan pasukan yang telah menampilkan kecemerlangan dalam pekerjaan mereka.

TANGGUNGJAWAB KORPORAT KAMIBerdasarkan rangka kerja peranan ekonomi dan perniagaan, kami juga bertekad untuk memenuhi matlamat sosial demi kebaikanmasyarakat umum. Penubuhan GPOS sebagai sebuah pusat latihan vokasional bukan bermatlamat mencari keuntunganmenggambarkan kesungguhan matlamat kami ini. Kini, ia menyediakan latihan berkaitan piawaian keselamatan dan amalan terbaikkepada para pekerja dalam industri pembinaan.

Kami juga mempunyai wawasan jangkapanjang melalui penganugerahan biasiswakepada pelajar Malaysia yang berprestasicemerlang. Sejak program ini dimulakan padatahun 1996, Gamuda telah menyumbangkanbiasiswa kepada 44 orang pelajar untukmelanjutkan pelajaran di universiti tempatandan luar negeri. Pada tahun ini, Kumpulantelah menyampaikan biasiswa kepada enampelajar cemerlang, tiga daripada merekamelanjutkan pelajaran di univerisiti tempatanmanakala tiga lagi di universiti luar negeri.Mereka dipilih berdasarkan prestasi akademikmasing-masing dan bakat serba boleh yangcemerlang, tetapi tidak mempunyaikemampuan dari segi kewangan.

DIVIDENGamuda telah mengisytiharkan dividen akhir sesaham sebanyak 4 sen ditolak 28peratus cukai. Bersama-sama dengan divideninterim yang terdahulu sebanyak 4 sensesaham dikecualikan cukai, jumlah dividenkasar sesaham bagi tempoh ini adalahsebanyak 8 sen.

The Group recently instituted the practice of giving Best ManagementAwards to its employees for six categories (best planner, best quality, bestinnovation, best entrepreneurship, best trainer and best learner) that givesrecognition to individuals and teams who have made breakthroughaccomplishments in their work.

OUR CORPORATE RESPONSIBILITYWithin the framework of our economic role and business, we alsoendeavour to pursue social objectives in the interest of the larger good.Thesetting up of GPOS as a non-profit vocational training center has thisoverriding aim. It now provides training on safety standards and bestpractices to workers in the construction industry.

We also take the long-term view of awarding scholarship grants tooutstanding Malaysian students. Since the programme started in 1996,Gamuda has given scholarships to 44 students in foreign and localuniversities. This year the Group awarded scholarship grants to six topstudents, three studying in local universities and three abroad. They wereselected by an independent committee for their academic and all roundexcellence but without sufficient financial means.

DIVIDENDGamuda has declared a final dividend per share of 4 sen less tax of 28 percent.Together with an earlier interim dividend per share of 4 sen per share, taxexempt, the total gross dividend per share for the period is 8 sen.


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RESPONDKAMI BERTINDAKBALAS

PROSPECTS FOR 2002The Group expects the construction industry to gain from the Government’s development expenditure in Budget 2002. Itsemphasis on social infrastructure – construction of hospitals, housing, water and electricity supply – and major infrastructureprojects including the construction of new airports, bridges, flood mitigation, upgrading of trunk roads have tremendousmultiplier impact and will stimulate growth.

We anticipate water concession earnings toimprove with increasing contribution fromSSP3 in the next few years. The recentacquisition of 80 percent stake in GamudaWater (formerly known as The Sweet WaterManagement) which will operate and maintainSSP3 – will boost Gamuda’s strength in thewater treatment business.

PROSPEK BAGI 2002Kumpulan menjangka industri pembinaan akan mendapat kelebihan daripadaperbelanjaan pembangunan Kerajaan dalam Belanjawan 2002. Penekanan yangdiberi terhadap infrastruktur sosial – pembinaan hospital, perumahan, bekalanair dan elektrik – dan berbagai projek infrastruktur utama yang merangkumipembinaan lapangan terbang baru, jambatan, pengawalan banjir, peningkatanjalan sampingan mempunyai kesan berganda yang besar dan akan merangsangpertumbuhan.

Linda Lim,

Senior Sales Manager

with a client

Linda Lim,

Pengurus Jualan Kanan

dengan pelanggan


Kami menjangka pendapatan konsesi air akan meningkat dalam tempoh beberapa tahun akan datang berikutan sumbangan yangsemakin baik daripada SSP3. Pengambilalihan 80 peratus kepentingan di dalam Gamuda Water (dahulu dikenali sebagai The SweetWater Management) yang akan mengendali dan menyelenggara SSP3 – akan mengukuhkan lagi penglibatan Gamuda dalamperniagaan rawatan air.

Kami mengakui kepentingan piawaian tadbir urus korporat yang tinggi dan sentiasa berusaha memperbaiki amalan tadbir uruskorporat yang baik. Pada masa hadapan, Kumpulan optimistik akan berjaya mencatat keputusan yang baik pada tahun 2002kerana kami telahpun memulakan beberapa inisiatif untuk mengekalkan pertumbuhan teguh dan mempertingkatkankecekapan operasi kami.

PENGHARGAANSaya bagi pihak Lembaga Pengarah ingin mengucapkan terima kasih kepada pihak pengurusan dan kakitangan yang telah memberisokongan dan komitmen padu. Prestasi membanggakan yang kita capai pada tahun 2001 adalah hasil daripada semangatberpasukan dan ketekunan yang anda sekalian tampilkan. Hakikatnya, sumber manusia kekuatan kami menjadi asas sejak 25 tahunpenglibatan kami dalam perniagaan.

Saya dengan sukacitanya mengalu-alukan paraahli bukan eksekutif baru yang berikut kedalam Lembaga Pengarah:Y Bhg Tan Sri Dato’Mohd Ramli Kushairi, Y M Raja Dato’ SeriAbdul Aziz Raja Salim dan Y Bhg Datuk AbRahman Omar. Sementara itu, Tuan Haji AzmiMat Nor menyertai Lembaga Pengarahsebagai seorang pengarah eksekutif. Merekapernah berkhidmat dalam kerajaan danindustri dan dengan demikian memberikanmanfaat yang luas dan mendalam kepadaLembaga Pengarah Gamuda melaluipengalaman mereka yang amat bernilai itu.

Akhir sekali , Lembaga Pengarah inginmerakamkan ucapan terima kasih kepadasemua pelanggan, pihak-pihak berkuasa danagensi negeri yang telah memberi kerjasamadan sokongan kepada kami. Kepada parapemegang saham sekalian, kami berikrar akanmemenuhi komitmen kami untukmempertingkatkan lagi nilai pemegang saham.

Tan Sri Dato’ Ir Talha Haji Mohd HashimPengerusi

We recognise the importance of high standards of corporate governance andwill continuously endeavour to improve good corporate governancepractices. Looking ahead, we are optimistic that the Group will do well in2002 as we have already embarked on several initiatives to sustain stronggrowth and further improve our operational effectiveness.

ACKNOWLEDGMENTS AND APPRECIATIONOn behalf of the Board I would like to thank the management and staff fortheir relentless support and commitment. Our commendable performance in2001 is the result of teamwork and hard work. Truly, our people are ourstrength in the past 25 years of business.

I would like to welcome the following new non-executive members to theBoard of Directors:Y Bhg Tan Sri Dato’ Mohd Ramli Kushairi,Y M Raja Dato’Seri Abdul Aziz Raja Salim,Y Bhg Datuk Ab Rahman Omar and Tuan Haji AzmiMat Nor join the Board as Executive Director. They have been involved ingovernment and industry, thus they bring breadth and depth to the GamudaBoard with their invaluable experiences.

Lastly, the Board records our gratitude to all customers, government authoritiesand agencies for their assistance, cooperation and support.To our shareholders,we pledge our commitment of further enhancing shareholder value.

Tan Sri Dato’ Ir Talha Haji Mohd HashimChairman

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R EACH56 GAMUDA CORPORATE EVENTS 2001 ACARA KORPORAT GAMUDA 2001

January Januari March Mac June Jun August Ogos

11Gamuda Berhad holds its 24thAGM and EGM at Kota PermaiGolf & Country Club.Gamuda Berhad mengadakan AGMdan EGMnya yang ke 24 di KotaPermai Golf & Country Club.

16G B Kuari, a subsidiary of Gamuda,obtains MS 1S0 14001 certificationfrom SIRIM for its environmentfriendly system.G B Kuari, sebuah syarikatsubsidiari Gamuda memperolehisijil MS ISO 14001 daripada SIRIMbagi sistemnya yang mesra alam.

28Y B Dato’ Seri S Samy Vellu opensnew SPRINT Highway.Y B Dato’ Seri S Samy Vellumerasmikan Lebuhraya SPRINTyang baru.

29Megah Sewa, a subsidiary ofGamuda, achieves MS ISO 9002accreditation for its quality systemin the provision of rental andmaintenance services in plant andequipment hire.Megah Sewa, sebuah syarikatsubsidiari Gamuda, memperolehiakreditasi MS ISO 9002 bagisistem kualitinya dalammenyediakan khidmatpenyenggaraan loji dan sewaperalatan.

1Two Directors retire; Mr ChanKuan Nam who joined the Board in1981 and Mr Heng Teng Kuang whobecame a board member in 1986,resigned in 1988 and reappointedin 1994.Dua orang Pengarah bersara; EnChan Kuan Nam yang menyertaiLembaga Pengarah pada tahun1981 dan En Heng Teng Kuangyang menjadi ahli lembaga pada1986, meletak jawatan pada 1988dan dilantik semula pada 1994.

13Kota Permai Golf & Country Clubhosts the prestigious 2001 VolvoMasters golf championship for theforth consecutive year.Kota Permai Golf & Country Clubmenjadi tuan rumah kepadapertandingan Golf Volvo Masters2001 yang berprestij untuk tahunkeempat berturut-turut.

28LITRAK holds its 6th AGM & EGM at Kota Permai Golf &Country Club.LITRAK mengadakan AGM danEGM yang ke 6 di Kota PermaiGolf & Country Club.

KAMI MENJALIN HUBUNGAN

28 June Jun

29 June Jun

GAMUDA CORPORATE EVENTS 2001 ACARA KORPORAT GAMUDA 2001 57

September September October Oktober November November

9SPRINT begins tolling of its completed highways on Jalan Damansara andKerinchi Link.SPRINT memulakan operasi pengutipan tol di lebuhrayanya yang telah siapdi Jalan Damansara dan Hubungan Kerinchi.

11Minister of Human Resource,Y B Dato’ Dr Fong Chan Onn presentsscholarship awards to top undergraduate students in local and foreignuniversities.The honourable Minister also presented certificates ofcompetency to crane operators trained at Gamuda Plant Operator School(GPOS).The certificates are recognised by Malaysia’s National Institute ofOccupational, Safety and Health.Menteri Sumber Manusia,Y B Datuk Dr Fong Chan Onn menyampaikanbiasiswa kepada penuntut peringkat ijazah di universiti tempatan dan luarnegeri yang cemerlang.Yang Berhormat Menteri turut menyampaikan SijilKekompetenan kepada pengendali kren yang dilatih di Gamuda PlantOperator School (GPOS). Sijil tersebut diiktiraf oleh Institut Keselamatandan Kesihatan Pekerjaan Kebangsaan Malaysia.

20LITRAK obtains MS ISO 9002:1994 certification from SIRIM for its efficientoperations and administrative system.LITRAK memperolehi sijil ISO MS 9002:1994 daripada SIRIM bagi sistemoperasi dan pentadbirannya yang cekap.

24Tuan Haji Azmi Mat Nor is appointed Executive Director to the Board.Mr Chow Chee Wah is appointed Alternate Director to Dato’ Lin Yun Ling.Tuan Haji Azmi Mat Nor dilantik sebagai Pengarah Eksekutif LembagaPengarah. Encik Chow Chee Wah dilantik sebagai Pengarah Penggantikepada Dato’ Lin Yun Ling.

6SPRINT signs agreement with Arab Malaysian Merchant Bank Berhad forRM1.4 billion project financing facilities.SPRINT menandatangani perjanjian dengan Arab Malaysian Merchant BankBerhad untuk kemudahan pembiayaan projek berjumlah RM1.4 bilion.

9Gamuda launches first phase of e-Project portal, a project that hasbeen jointly developed by GITServices with IBM Malaysia.Gamuda melancarkan fasa pertamaportal e-Projek, sebuah projek yangdimajukan secara usahasama olehGIT Services dengan IBM Malaysia.

20Gamuda celebrates its 25thAnniversary.Gamuda menyambut Ulang Tahunke 25.

22Three Independent and Non-Executive Directors are appointed:Y Bhg Tan Sri Dato’ Mohd RamliKushairi,Y M Raja Dato’ Seri AbdulAziz Raja Salim, and Y Bhg DatukAb Rahman Omar.Perlantikan tiga orang PengarahBebas dan Bukan Eksekutif: Y BhgTan Sri Dato’ Mohd RamliKushairi,Y M Raja Dato’ Seri AbdulAziz Raja Salim dan Y Bhg DatukAb Rahman Omar.

21Concession Agreement signed toundertake the Panagarh-PalsitHighway project in the State ofWest Bengal in India.Perjanjian Konsesi ditandatanganibagi pelaksanaan projek LebuhrayaPanagarh-Palsit di Negeri BengalBarat, India.

29G B Kuari ranked 25th andreceives Enterprise 50 2001Award for SMIs.G B Kuari dipilih mendudukitempat ke 25 dan menerimaAnugerah Enterprise 50 2001 bagi IKS.

11 September September

20 October Oktober

21 November November

WE

SUPPORTKAMI

MENYUMBANG

58 GROUP COMMUNITY EVENTS 2001 ACARA KEMASYARAKATAN KUMPULAN 2001

February Februari April April May Mei

4Opening of Le Tour de Langkawi, an annual cycling event with participantsfrom around the globe, where Gamuda Berhad is one of the maincorporate sponsors.Y A B Prime Minister, Dr Mahathir Mohamad officiatedthe Opening.Pelancaran Le Tour de Langkawi, acara lumba basikal tahunan yang disertaioleh para pelumba dari seluruh dunia di mana Gamuda merupakan salahsatu penaja utama.Y A B Perdana Menteri, Dr Mahathir Mohamad telahmerasmikan upacara pelancaran tersebut.

16Menteri Besar Selangor Y A B Dato’ Seri Dr MohamadKhir Toyo officiates the treeplanting ceremony at the OrangAsli new village, Kg Gerachi aspart of their beautification andlandscaping programme prior toshifting in.With Kg Gerachisuccessfully relocated, SPLASH isnow working towards completingthe new Kg Pertak.Menteri Besar Selangor,Y A BDato’ Seri Dr Mohamad Khir Toyomerasmikan acara menanampokok di kampung baru OrangAsli, Kg Gerachi sebagai sebahagiandaripada program pengindahandan lanskap sebelum merekaberpindah ke sana. Dengankejayaan pemindahan ke KgGerachi, kini SPLASH sedangmengusahakan perpindahan kekampung baru Pertak pula.

8Y B Dato’ Seri S Samy Vellu, Minister of Works, launches SPRINTcommunity programme at SMK Sri Hartamas and officiates the opening ofthe pedestrian bridge build for the school. Committed to the safety of theschoolchildren, SPRINT has built a total of nine pedestrian bridges on itshighway, five more than what was required in the concession agreement.Y B Dato’ Seri S Samy Vellu, Menteri Kerja Raya, melancarkan programkomuniti SPRINT di SMK Sri Hartamas dan merasmikan pembukaanjejambat pejalan kaki untuk sekolah tersebut. SPRINT yang komitedterhadap keselamatan kanak-kanak sekolah, telah membina sebanyaksembilan buah jejambat pejalan kaki di Lebuhrayanya, lima lebih daripadayang telah ditetapkan dalam perjanjian konsesi.

30LITRAK together with Y B Chew Mei Fun, Petaling Jaya Utara’s Member of Parliament organise a road safety campaign together with residents’associations at Lebuhraya Damansara-Puchong (LDP).Y B Donald Lim,Parliamentary Secretary to the Transport Ministry was present to officiatethe event.LITRAK bersama-sama dengan Y B Chew Mei Fun,Ahli Parlimen PetalingJaya Utara menganjurkan kempen keselamatan jalanraya bersama persatuanpenduduk di Lebuhraya Damansara-Puchong (LDP).Y B Donald Lim,Setiausaha Parlimen Kementerian Pengangkutan hadir untuk merasmikanacara tersebut.

16 April April

8 May Mei

GROUP COMMUNITY EVENTS 2002 ACARA KEMASYARAKATAN KUMPULAN 2001 59

7 Julai Julai

30 May Mei

July Julai September September

14 Julai Julai

11Minister of Human Resource,Y B Datuk Fong Chan Onn presents the annual GamudaScholarship Awards to six undergraduatestudents at local and foreign universities.Certificates of Competency were alsopresented to 36 crane operators trained atGamuda Plant Operator (GPOS). Gamudahopes to equip local construction workerswith basic construction know-how and toimprove their performance levels.Menteri Sumber Manusia,Y B Datuk Fong Chan Onn menyampaikan AnugerahBiasiswa Gamuda kepada enam pelajarperingkat ijazah di universiti tempatan dan luar negeri.Turut disampaikan ialah Sijil Kekompetenan kepada 36 pengendalikren yang dilatih di Gamuda Plant OperatorSchool (GPOS). Gamuda berharap dapatmemperlengkapkan para pekerja pembinaandengan kemahiran asas sertamempertingkatkan tahap prestasi mereka.

7The then Regent of Selangor Darul Ehsan, D Y T M Tengku Idris Shah whois now D Y M M Sultan Sharafuddin Idris Shah ibni Almarhum SultanSalahuddin Abdul Aziz Shah presents new homes to 41 Orang Asli familiesat Kg Gerachi as part of the resettlement of Kg Gerachi and Kg Pertakresidents in the construction of SSP3.Raja Muda Selangor, D Y TM Tengku Idris Shah yang kini bergelar D Y M MSultan Sharafuddin Idris ibni Almarhum Sultan Salahuddin Abdul Aziz Shahmenyerahkan kediaman baru kepada 41 keluarga Orang Asli di Kg Gerachisebagai sebahagian daripada usaha pemindahan penduduk Kg Gerachi danKg Pertak yang terlibat dalam pembinaan SSP3.

14LITRAK ended its week-long recycling campaign at its rest area at BandarSunway toll plaza with a ceremony officiated by Selangor Housing, Squattersand Environment Committee Chairman, Datuk Mokhtar Ahmad Dahlan.LITRAK menamatkan Kempen Kitar Semulanya yang diadakan selamaseminggu di kawasan rehat di plaza tol Bandar Sunway. Upacara ini telahdirasmikan oleh Datuk Mokhtar Ahmad Dahlan, Pengerusi JawatankuasaPerumahan, Setinggan dan Alam Sekitar negeri Selangor.

60 PENYATA TANGGUNGJAWAB PARA PENGARAH UNTUK MENYEDIAKAN PENYATA KEWANGAN

STATEMENT OF DIRECTORS’ RESPONSIBILITY FOR PREPARING THE FINANCIAL STATEMENTS

The Directors are required by the Companies Act 1965to prepare financial statements for each financial yearwhich have been made out in accordance with theapplicable approved accounting standards and give a trueand fair view of the state of affairs of the Group andCompany at the end of the financial year and of theresults and cash flows of the Group and Company forthe financial year.

In preparing the financial statements, the Directors have :

• selected suitable accounting policies and appliedthem consistently;

• made judgments and estimates that are reasonableand prudent;

• ensured that all applicable accounting standardshave been followed; and

• prepared financial statements on the going concernbasis as the Directors have a reasonableexpectation, having made enquiries, that the Groupand Company have adequate resources to continuein operational existence for the foreseeable future.

The Directors have responsibility for ensuring that the Company keeps accounting records which disclosewith reasonable accuracy the financial position of theGroup and Company and which enable them to ensurethat financial statements comply with the CompaniesAct 1965.

The Directors have overall responsibilities for takingsuch steps as are reasonably open to them to safeguardthe assets of the Group to prevent and detect fraud andother irregularities.

Para Pengarah dikehendaki oleh Akta Syarikat 1965untuk menyediakan penyata kewangan bagi setiap tahunkewangan yang telah disediakan selaras dengan piawaianperakaunan diterimapakai yang diluluskan danmemberikan gambaran yang benar dan saksamamengenai hal ehwal Kumpulan dan Syarikat pada akhirtahun kewangan ini dan keputusan serta aliran tunaiKumpulan dan Syarikat bagi tahun kewangan ini.

Dalam menyediakan penyata kewangan ini, para Pengarah telah:

• memilih dasar-dasar perakaunan yang sesuai danmengamalkannya secara konsisten;

• membuat pertimbangan dan anggaran yangberpatutan dan berhemat;

• memastikan supaya semua piawaian perakaunan yangditerimapakai telah diikuti; dan

• menyediakan penyata kewangan berasaskan usahaperniagaan berterusan kerana para Pengarahmempunyai jangkaan berpatutan, setelah membuatpersoalan yang menentukan bahawa Kumpulan danSyarikat mempunyai sumber yang mencukupi untukmeneruskan kewujudan operasinya pada masa depanyang boleh dijangkakan.

Para Pengarah bertanggungjawab untuk memastikansupaya Syarikat menyimpan rekod perakaunan yangmendedahkan ketepatan kedudukan kewangan Kumpulandan Syarikat dan yang membolehkan mereka memastikansupaya penyata kewangan mematuhi Akta Syarikat 1965.

Para Pengarah mempunyai tanggungjawab keseluruhanuntuk mengambil langkah-langkah sewajarnya yangtersedia kepada mereka bagi melindungi harta Kumpulansupaya ia dapat membantu mencegah dan mengesankesilapan dan pelanggaran peraturan.

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