40
FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT 2014
The directors of FRONTKEN CORPORATION BERHAD have pleasure in submitting their report and the audited
financial statements of the Group and of the Company for the financial year ended 31 December 2014.
PRINCIPAL ACTIVITIES
The principal activities of the Company are that of investment holding and provision of management services to
its subsidiaries.
The principal activities of the subsidiaries are disclosed in Note 12 to the financial statements.
There have been no significant changes in the nature of these activities during the financial year.
FINANCIAL RESULTS
The Group The Company
RM
RM
Profit after taxation for the financial year
23,188,120
1,609,481
Attributable to:
Owners of the Company
18,775,293
1,609,481
Non-controlling interests
4,412,827
–
23,188,120
1,609,481
DIVIDEND
No dividend has been paid or declared by the Company since the end of the previous financial year. The directors
do not recommend the payment of any dividends in respect of the current financial year.
RESERVES AND PROVISIONS
All material transfers to or from reserves or provisions during the financial year are disclosed in the financial
statements.
ISSUES OF SHARES AND DEBENTURES
During the financial year,
(a)
there were no changes in the authorised and issued and paid-up share capital of the Company; and
(b)
there were no issues of debentures by the Company.
TREASURY SHARES
During the financial year, the Company repurchased 3,020,000 of its issued ordinary shares from the open market at
an average price of RM0.122 per share. The total consideration paid for the repurchase including transaction costs
amounted to RM369,268. The shares repurchased are being held as treasury shares in accordance with Section
67A of the Companies Act 1965 and are presented as a deduction from total equity.
As at 31 December 2014, the Company held 4,866,600 treasury shares at a carrying amount of RM564,995. Relevant
details on the treasury shares are disclosed in Note 22 to the financial statements.
DIRECTORS’
REPORT
