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FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT
2015
DIRECTORS’ REPORT
DIRECTORS’ REPORT
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 2015.
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 11 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
9,508,123
178,853
Attributable to:
Owners of the Company
4,007,044
178,853
Non-controlling interests
5,501,079
-
9,508,123
178,853
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, the Company increased its issued and paid-up share capital fromRM101,140,816 to RM105,343,513
by the issuance of 42,026,970 new ordinary shares of RM0.10 each pursuant to the exercise of 42,026,970 warrants at an
exercise price of RM0.18 per warrant.
The new ordinary shares issued rank pari passu in all respects with the existing issued ordinary shares of the Company.
There were no issues of debentures during the financial year.
TREASURY SHARES
During the financial year, the Company repurchased 200,000 of its issued ordinary shares from the open market at an
average price of RM0.168 per share. The total consideration paid for the repurchase including transaction costs amounted
to RM33,751. 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.