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1.
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Accounting policies
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| |
|
The accounting policies and methods of computation are consistent with those adopted in the most recent annual financial statements.
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2.
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Exceptional items
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| |
|
|
Exceptional items comprise :-
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Individual
Quarter
|
Cumulative
Quarter
|
|
|
|
|
Current Year Quarter |
|
Preceding
Year Corresponding Quarter
|
|
Current
Year to date |
|
Preceding
Year Corresponding Period
|
|
|
|
30/09/2000
|
30/09/99
|
30/09/2000
|
30/09/99
|
|
|
|
RM'000
|
RM'000
|
RM'000
|
RM'000
|
|
Exchange gain/(loss) on foreign currency borrowings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Realised exchange gain/(loss) |
|
100
|
|
|
27
|
|
|
100
|
|
|
27
|
|
|
-
|
Amortisation of Deferred Exchange Differences |
|
(6,832
|
)
|
|
(5,591
|
)
|
|
(6,832
|
)
|
|
(5,591
|
)
|
|
|
|
|
(6,732
|
)
|
|
(5,564
|
)
|
|
(6,732
|
)
|
|
(5,564
|
)
|
|
|
3.
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Extraordinary items
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|
|
|
There were no extraordinary items included in the accounts.
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4.
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Taxation
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| |
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Exceptional items comprise :-
|
Individual
Quarter
|
Cumulative
Quarter
|
|
|
|
Current Year Quarter |
Preceding
Year Corresponding Quarter
|
Current
Year to date
|
Preceding
Year Corresponding Period
|
|
|
|
30/09/2000
|
30/09/99
|
30/09/2000
|
30/09/99
|
|
|
|
RM'000
|
RM'000
|
RM'000
|
RM'000
|
|
Current taxation
|
|
|
2,807
|
|
|
3,048
|
|
|
2,807
|
|
|
3,048
|
|
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Deferred taxation
|
|
|
4,203
|
|
|
7,019
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|
|
4,203
|
|
|
7,019
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|
|
|
|
|
7,010
|
|
|
10,067
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|
|
7,010
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|
|
10,067
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|
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5.
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Pre-acquisition profits
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There were no pre-acquisition profits included in the accounts.
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6.
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Sale of investments / properties
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There were no sale of investments and/or properties for the financial quarter ended 30 September 2000.
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7.
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Quoted securities
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(a)
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There were no purchase and sale of quoted securities for the financial quarter ended 30 September 2000.
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(b)
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Particulars of investments in quoted shares as at 30 September 2000:-
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RM'000 |
|
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Total investments at cost
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61,364
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|
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Total investments at book value (after provision for diminution in value)
|
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61,364
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|
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Total investments at market value
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46,680
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|
|
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8.
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Group structure
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The Group’s year-to-date results have not been affected by any form of changes in the composition of the Group.
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9.
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Corporate proposals
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There were no corporate proposals raised during the financial quarter ended 30 September 2000.
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10.
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Seasonal / Cyclical factors
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This quarter coincides with the summer holidays when lower levels of activities from Europe are normally seen. Apart from this, there were no material changes to the factors affecting the sources of income and performance of the Group during the financial quarter ended 30 September 2000.
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11.
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Debt / Equity securities and Share buy-back
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(a)
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There were no issuance or repayment of debts or equity securities, share buy-back, share cancellation, shares held as treasury shares and resale of treasury shares for the financial quarter ended 30 September 2000 other than as mentioned below.
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(b)
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The Executive Share Option Scheme (“ESOS”) of the Company was implemented with effect from 28 December 1999. During the quarter review ended 30 September 2000, 32,000 shares were issued and allotted pursuant to the exercise of the ESOS.
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No. of shares
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RM'000
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As at 30 June 2000
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209,852,419
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|
104,926
|
|
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Ordinary shares issued pursuant to ESOS
|
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32,000
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16
|
|
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As at 30 September 2000
|
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209,884,419
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104,942
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(c)
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During the quarter under review, the Company bought back a total of 1,280,000 of its issued share capital from the open market. Total number of shares bought back as at 30 September 2000 were 8,777,000. The shares bought back are being held as treasury shares in accordance with the requirement of Section 67A of the Companies Act, 1965.
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The details of the shares bought back during the financial quarter ended 30 September 2000 were as follows:-
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|
| Month |
No. of
shares bought back |
Highest
price paid (RM) |
Lowest
price paid (RM) |
|
Average
price paid (RM) |
Total
Consideration (RM) |
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July 2000
|
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340,000 |
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36.75 |
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|
27.50 |
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30.71 |
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10,440,618.15 |
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August 2000
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502,000 |
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29.50 |
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26.50 |
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27.76 |
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13,934,750.69 |
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September 2000
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438,000 |
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|
28.25 |
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24.20 |
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|
26.22 |
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11,483,235.86 |
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12.
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Group borrowings
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| |
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Particulars of the Group’s borrowings as at 30 September 2000 are as follows :-
|
|
|
|
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|
RM'000
|
|
|
(a)
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Unsecured short term borrowings
|
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|
47,700
|
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(b)
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Unsecured long term borrowings
|
|
|
354,410
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|
|
|
|
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402,110
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The above Group’s borrowing include foreign currency as follows :-
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RM'000
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USD borrowings
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235,610
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| |
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13.
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Contingent liabilities
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There are no contingent liabilities to be disclosed as at the date of this report.
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14.
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Off-balance sheet risks
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There are no off-balance sheet risks envisaged as at the date of this report that might materially affect the position or business of the Group.
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15.
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Material litigation
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There is no pending material litigation against the Group as at the date of this report.
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16.
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Segmental reporting
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Turnover
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Profit
Before Tax
|
|
Total
Assets Employed
|
|
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|
RM'000
|
|
RM'000
|
|
RM'000
|
|
|
Semiconductor
|
|
413,406
|
|
|
143,436
|
|
|
1,645,212
|
|
|
Investment holding & others |
|
- |
|
|
(6,745 |
) |
|
399,910 |
|
|
|
|
413,406 |
|
|
136,691 |
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|
2,045,122 |
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17.
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Quarterly analysis
|
|
|
|
For the 1st quarter ended 30 September 2000, the Group registered a profit after tax of RM129.7 million, an increase of approximately 35% over the same period last year.
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|
18.
|
|
Review of results
|
|
|
|
Turnover for the 1st quarter ended 30 September 2000 was RM413.4 million with an earnings per share of 45.6 sen, representing an increase of 22% and 38% respectively over the same period last year, thus reflecting the continued buoyancy of the semiconductor industry.
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|
19.
|
|
Prospects
|
|
|
|
Barring any unforeseen circumstances, the Board expects the Group to perform satisfactorily in the current financial year. |
|
20. |
|
Profit forecast / profit
guaranteed |
|
|
|
There was neither profit forecast prepared nor profit guaranteed by the Group. |
|
21. |
|
Dividend |
|
|
|
The Board does not recommend any interim dividend for the financial quarter ended 30 September 2000. |
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|
|
By Order of the Board |
|
Malaysian Pacific Industries Berhad |
|
Christine Lee Oi Kuan |
|
Joanne Leong Wei Yin |
|
Company Secretaries |
|
Kuala Lumpur |
|
16 October 2000 |