| | |
GROUP |
COMPANY |
| | | 1998 | 1997 | 1998 | 1997 |
3. | |
Profit {2 (e) ( i ) } above as a percentage of turnover {1 (a) } above | 5.9% | 28.5% | 21.2% | 23.6% |
4. | |
Profit { 2(f) } above as a percentage of issued capital and reserves at end of year | 4.2% | 24.7% | 14.5% | 17.8% |
5. | |
Earnings in sen per ordinary share of 50 sen each based on { 2(f) above } | 13.6
sen | 79.4
sen | | |
6. | |
Net tangible assets backing per
ordinary share of 50 sen each |
RM3.22 |
RM3.21 | | |
7. |
(a) |
The results of the Group and of the Company include the following exceptional items :- |
| |
|
GROUP
|
COMPANY |
| | | 1998 | 1997 | 1998 | 1997 |
| | | RM mil | RM mil | RM mil | RM mil |
|
| Write off of
goodwill arising on acquisition of associated company/subsidiary companies | (373.2) | (24.2) | - | - |
| |
Profit arising from the sale of investments | 38.0 | 329.3 | - | - |
| |
|
|
|
|
| | (335.2) | 305.1 | - | - |
| |
|
|
|
|
| | Apart
from the above, the results of the Group and of the Company for the financial year ended
31 st December 1998 have not been affected by any material factors or items of
an extraordinary nature. |
| | |
| (b) s | In the
opinion of the Directors, no significant trend or event has occurred between 31st
December 1998 and the date of this report which would affect substantially the results of
the Group and of the Company. |
| |
GROUP |
COMPANY |
| | 1998 | 1997 | 1998 | 1997 |
| | RM mil | RM mil | RM mil | RM mil |
| 8. | (a) | Profit { 2(f)
above } reported for first half year | 183.5 | 282.2 | 246.8 | 253.6 |
| (b) | Profit/(loss) {2(f)
above } reported for second half year |
(34.5) |
585.1 |
232.7 |
275.6 |
| 9. | Taxation
for the year includes deferred tax charge of RM 6.9 million (1997 : RM 9.9 million ) for
the Group and RM 7.2 million (1997 : RM 10.6 million ) for the Company. There is no
material adjustment for under / over provision for taxation relating to prior years for
the Group and for the Company. |
| |
| 10. | The
results do not include any pre-acquisition profits. |
| |
| 11.s | Since the
payment of interim dividend for the year ended 31st December 1998 to the date
of this report, the Company did not make any rights, bonus, and / or other issues of
equity shares. |
| |
| 12. | The
Directors are of the opinion that the results for the current year will remain dependent
on economic conditions in the region and in particular will continue to be affected by the
uncompetitive casino tax structure. |
| |
| 13. | As
previously announced, the Group has set up a task-force committee to address the Y2K
issues. The Group is currently in the testing, validation and remediation phases of the
project. The Group has also commenced the development of contingency plans. The total cost incurred to-date is
approximately RM 0.4 million for the Group ( RM 0.3 million for the Company). The total
cost of the Y2K project is estimated to be approximately RM 4.0 million for the Group (RM
3.2 million for the Company) |
| |
| 14. | (a) | A final
dividend of 9.0 sen less 28% tax per ordinary share of 50 sen each in respect of the
financial year ended 31st December 1998 has been recommended by the Directors
for approval by the shareholders. The entitlement date and the date of payment of the said
final dividend will be determined by the Directors and announced at a later date. |
| | |
| (b) | Interim
dividend was 8.0 sen less 28 % tax per ordinary share. |
| | |
| (c) | Annual
dividend per ordinary share of 50 sen each :- |
|
|
1998 |
1997 |
| | Interim | 8.0
sen less 28 % tax | 8.5
sen less 30 % tax
(now deemed as 28%) |
| | Final | 9.0 sen less 28 %
tax | 12.0 sen less 28% tax |
| (d) | Total annual net dividend :- | | | | |
| | | 1998 | | 1997 | |
| | | ( RM mil ) | | ( RM mil ) | |
| | Interim | 62.9 | | 65.0 | |
| |
Final |
70.7 | |
94.3 | |
| |
| |
| |
| | 133.6
| | 159.3 | |
| |
| |
| |
| BY ORDER OF THE BOARD TAN SRI LIM GOH TONG
Chairman and Managing Director
RESORTS WORLD BHD
24th February 1999 |