Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 72 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 2023. 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 13 to the financial statements. FINANCIAL RESULTS The Group The Company RM RM Profit after taxation for the financial year 124,339,100 51,144,154 Attributable to: Owners of the Company 111,950,507 51,144,154 Non-controlling interests 12,388,593 - 124,339,100 51,144,154 DIVIDENDS The dividends on ordinary shares paid or declared by the Company are as follows: RM In respect of the financial year ended 31 December 2022 - Second interim single-tier dividend of 2.6 sen per ordinary share on 1,570,951,425 ordinary shares, paid on 13 July 2023 40,844,736 On 22 February 2024, the Company announced a first interim single-tier dividend of 2.2 sen per ordinary share in respect of the financial year ended 31 December 2023. The financial statements for the current financial year do not reflect this interim dividend. Such dividend will be accounted for in the shareholders’ equity as an appropriation of retained earnings in the financial year ending 31 December 2024. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements.
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