KUB Malaysia Berhad Annual Report 2021

The Directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial period from 1 January 2020 to 30 June 2021. CHANGE OF FINANCIAL YEAR END During the financial period, the Group and the Company have changed their financial year end from 31 December to 30 June. Accordingly, the financial statements of the Group and the Company for current financial period are drawn up for a period of eighteen (18) months from 1 January 2020 to 30 June 2021 and that the subsequent financial year shall end on 30 June annually. PRINCIPAL ACTIVITIES The principal activities of the Company are that of investment holding and provision of management services to its subsidiaries. The subsidiaries are principally engaged in the business of liquefied petroleum gas (‘LPG’), agricultural businesses, information and communications technology (‘ICT’), and others as stated in Note 42 to the financial statements. RESULTS OF OPERATIONS The results of operations of the Group and of the Company for the financial period are as follows: Group Company RM’000 RM’000 Profit before zakat and taxation 167,791 154,996 Zakat 96 - Taxation (9,312) - Profit for the period 158,575 154,996 Profit attributable to: Owners of the parent 155,562 154,996 Non-controlling interests 3,013 - 158,575 154,996 DIVIDENDS The Directors have recommended the first and final single tier dividend of 1.5 sen on 556,464,690 ordinary shares amounting to RM8,346,970 in respect of the financial period ended 30 June 2021. The proposed dividend is subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company. The dividend will be accounted for in equity as an appropriation of retained earnings in the financial year ending 30 June 2022. RESERVES AND PROVISIONS All material transfers to or from reserves and provisions during the financial period are shown in the financial statements. ISSUE OF SHARES AND DEBENTURES The Company has not issued any new shares or debentures during the financial period. DIRECTORS’ REPORT 44 KUB MALAYSIA BERHAD