|
1.
|
|
Accounting policies
|
| |
|
The accounting policies and methods of computation are consistent with those adopted in the most recent annual financial statements.
|
|
2.
|
|
Exceptional items
|
| |
|
|
Exceptional items comprise :-
|
Individual
Quarter
|
Cumulative
Quarter
|
|
|
|
|
Current Year Quarter |
|
Preceding
Year Corresponding Quarter
|
|
Current
Year to date |
|
Preceding
Year Corresponding Period
|
|
|
|
31/12/2000
|
31/12/1999
|
31/12/2000
|
31/12/1999
|
|
|
|
RM'000
|
RM'000
|
RM'000
|
RM'000
|
|
Exchange gain/(loss) on foreign currency borrowings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Realised exchange gain/(loss) |
|
-
|
|
|
35
|
|
|
-
|
|
|
62
|
|
|
-
|
Amortisation of Deferred Exchange Differences |
|
-
|
|
|
(5,590
|
)
|
|
(6,832
|
)
|
|
(11,181
|
)
|
|
|
|
|
-
|
|
|
(5,555
|
)
|
|
(6,832
|
)
|
|
(11,119
|
)
|
|
|
3.
|
|
Extraordinary items
|
|
|
|
There were no extraordinary items included in the accounts.
|
|
4.
|
|
Taxation
|
| |
|
|
Exceptional items comprise :-
|
Individual
Quarter
|
Cumulative
Quarter
|
|
|
|
Current Year Quarter |
Preceding
Year Corresponding Quarter
|
Current
Year to date
|
Preceding
Year Corresponding Period
|
|
|
|
31/12/2000
|
31/12/1999
|
31/12/2000
|
31/12/1999
|
|
|
|
RM'000
|
RM'000
|
RM'000
|
RM'000
|
|
Current taxation
|
|
|
2,038
|
|
|
3,513
|
|
|
4,845
|
|
|
6,561
|
|
|
Deferred taxation
|
|
|
4,203
|
|
|
7,019
|
|
|
8,406
|
|
|
14,037
|
|
|
|
|
|
6,241
|
|
|
10,532
|
|
|
13,251
|
|
|
20,598
|
|
|
|
5.
|
|
Pre-acquisition profits
|
|
|
|
There were no pre-acquisition profits included in the accounts.
|
|
6.
|
|
Sale of investments / properties
|
|
|
|
There were no sale of investments and/or properties for the financial quarter ended
31 December 2000.
|
|
7.
|
|
Quoted securities
|
| |
|
|
(a)
|
There were no purchase and sale of quoted securities for the financial quarter ended
31 December 2000.
|
|
|
|
|
|
(b)
|
Particulars of investments in quoted shares as at
31 December 2000:-
|
|
|
|
|
|
|
|
|
|
RM'000 |
|
|
|
Total investments at cost
|
|
|
61,364
|
|
|
|
Total investments at book value (after provision for diminution in value)
|
|
|
61,364
|
|
|
|
Total investments at market value
|
|
|
43,563
|
|
|
|
|
|
|
|
|
|
8.
|
|
Group structure
|
|
|
|
The Group’s year-to-date results have not been affected by any form of changes in the composition of the Group.
|
|
9.
|
|
Corporate proposals
|
|
|
|
There were no corporate proposals raised during the financial quarter ended
31 December 2000.
|
|
10.
|
|
Seasonal / Cyclical factors
|
|
|
|
The traditional
surge in 2nd quarter revenue did not materialise because of
softerning of US Economy and the semiconductor industry.
|
|
11.
|
|
Debt / Equity securities and Share buy-back
|
| |
|
|
(a)
|
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
31 December 2000 other than as mentioned below.
|
|
(b)
|
The Executive Share Option Scheme (“ESOS”) of the Company was implemented with effect from 28 December 1999. During the
year to date, 32,000 shares were issued and allotted pursuant to the exercise of the ESOS.
|
|
| |
|
|
|
|
|
No. of shares
|
|
RM'000
|
|
|
|
As at 1 July 2000
|
|
|
209,852,419
|
|
104,926
|
|
|
|
Ordinary shares issued pursuant to ESOS
|
|
|
32,000
|
|
16
|
|
|
|
As at 31 December 2000
|
|
|
209,884,419
|
|
104,942
|
|
|
| |
|
|
(c)
|
During the year to
date, the Company bought back a total of 3,369,000 of its issued share capital from the open market. Total number of shares bought back as at
31 December 2000 were 10,866,000. The shares bought back are being held as treasury shares in accordance with the requirement of Section 67A of the Companies Act, 1965.
|
|
|
The details of the shares bought back during the financial quarter ended
31 December 2000 were as follows:-
|
|
|
| Month |
No. of
shares bought back |
Highest
price paid (RM) |
Lowest
price paid (RM) |
|
Average
price paid (RM) |
Total
Consideration (RM) |
|
July 2000
|
|
340,000 |
|
|
36.75 |
|
|
27.50 |
|
|
30.71 |
|
|
10,440,618.15 |
|
August 2000
|
|
502,000 |
|
|
29.50 |
|
|
26.50 |
|
|
27.76 |
|
|
13,934,750.69 |
|
September 2000
|
|
438,000 |
|
|
28.25 |
|
|
24.20 |
|
|
26.22 |
|
|
11,483,235.86 |
|
October 2000
|
|
1,117,000 |
|
|
25.25 |
|
|
18.50 |
|
|
22.16 |
|
|
24,749,073.33 |
|
November 2000
|
|
40,000 |
|
|
21.30 |
|
|
20.90 |
|
|
21.21 |
|
|
848,432.01 |
|
December 2000
|
|
932,000 |
|
|
21.20 |
|
|
15.10 |
|
|
18.23 |
|
|
16,991,343.95 |
|
|
|
12.
|
|
Group borrowings
|
| |
|
|
Particulars of the Group’s borrowings as at
31 December 2000 are as follows :-
|
|
|
|
|
|
RM'000
|
|
|
(a)
|
Unsecured short term borrowings
|
|
|
64,250
|
|
|
(b)
|
Unsecured long term borrowings
|
|
|
356,164
|
|
|
|
|
|
|
420,414
|
|
|
The above Group’s borrowing include foreign currency as follows :-
|
|
|
|
|
|
RM'000
|
|
|
|
USD borrowings
|
|
|
258,414
|
|
| |
|
|
|
|
|
|
|
13.
|
|
Contingent liabilities
|
|
|
|
There are no contingent liabilities to be disclosed as at the date of this report.
|
|
14.
|
|
Off-balance sheet risks
|
|
|
|
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.
|
|
15.
|
|
Material litigation
|
|
|
|
There is no pending material litigation against the Group as at the date of this report.
|
|
16.
|
|
Segmental reporting
|
| |
|
|
|
|
Turnover
|
|
Profit
Before Tax
|
|
Total
Assets Employed
|
|
|
|
RM'000
|
|
RM'000
|
|
RM'000
|
|
|
Semiconductor
|
|
819,296
|
|
|
278,003
|
|
|
1,664,831
|
|
|
Investment holding & others |
|
929 |
|
|
(7,929 |
) |
|
385,251 |
|
|
|
|
820,225 |
|
|
270,074 |
|
|
2,050,082 |
|
|
|
17.
|
|
Quarterly analysis
|
|
|
|
The Group recorded a profit before
tax of RM 133.4 million for the quarter under review as compared to RM 136.7
million for the preceding quarter.
|
|
18.
|
|
Review of results
|
|
|
|
Turnover for the 2nd quarter ended
31 December 2000 was RM406.8 million with an earnings per share of 45.8 sen, representing an increase of
6.7% and 13.4% respectively over the same quarter last year.
|
|
19.
|
|
Prospects
|
|
|
|
The softening of the semiconductor
industry coupled with a possible slowdown in the US economy, suggest that the
next 6 months would be a challenging period. |
|
20. |
|
Profit forecast / profit
guaranteed |
|
|
|
There was neither profit forecast prepared nor profit guaranteed by the Group. |
|
21. |
|
Dividend |
|
|
|
The Board has declared an interim dividend of 30% tax exempt and a further special interim dividend of 30% tax exempt, to make up a total of 60% tax exempt, for the six-months ended 31 December 2000 of the financial year 2000/2001 (1999/2000 : 20% tax exempt and a further special 20% tax exempt) to be paid on 12 March 2001 to holders of ordinary shares whose names appear in the Record of Depositors at the close of business on 27 February 2001.This is to inform that a Depositor shall qualify for the entitlement only in respect
of:- |
|
|
|
(a)
|
shares transferred into the Depositor’s securities account before 12.30 p.m. on 27 February 2001 in respect of ordinary transfers;
and
|
|
|
|
(b)
|
shares bought on the Kuala Lumpur Stock Exchange on a cum entitlement basis according to the Rules of the Kuala Lumpur Stock
Exchange.
|
|
|
|
In respect of the financial year ended 30 June 2000, the proportion of final dividend attributable to shares bought back by the Company from 1 July 2000 to the dividend entitlement date on 25 October 2000, which amounted to RM837,000, has been reversed and adjusted against retained earnings during the current financial period.
|
|
|
|
By Order of the Board |
|
Malaysian Pacific Industries Berhad |
|
Christine Lee Oi Kuan |
|
Joanne Leong Wei Yin |
|
Company Secretaries |
|
Kuala Lumpur |
|
7 February 2001 |