REDTONE-AnnualReport2010 (2MB)

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Text of REDTONE-AnnualReport2010 (2MB)

  • C O N T E N T S NOTiCE Of ANNuAl GENErAl MEETiNG ............................................................................................................... 2

    COrpOrATE iNfOrMATiON ...................................................................................................................................... 4

    COrpOrATE STruCTurE ........................................................................................................................................... 5

    BOArd Of dirECTOrS ............................................................................................................................................... 6

    BOArd Of dirECTOrS prOfilE .............................................................................................................................. 7

    lETTEr TO ShArEhOldErS frOM ThE ChAirMAN, MANAGiNG dirECTOr ANd GrOup CEO ................. 10

    COrpOrATE GOvErNANCE STATEMENT ............................................................................................................... 12

    AddiTiONAl COMpliANCE iNfOrMATiON .......................................................................................................... 19

    AudiT COMMiTTEE rEpOrT .................................................................................................................................... 21

    STATEMENT Of iNTErNAl CONTrOl ..................................................................................................................... 27

    STATEMENT Of dirECTOrS' iNTErESTS ............................................................................................................... 30

    dirECTOrS rESpONSiBiliTy STATEMENT ........................................................................................................... 31

    dirECTOrS rEpOrT ................................................................................................................................................. 32

    STATEMENT By dirECTOrS ..................................................................................................................................... 37

    STATuTOry dEClArATiON ...................................................................................................................................... 37

    iNdEpENdENT AudiTOrS rEpOrT ........................................................................................................................ 38

    iNCOME STATEMENTS ............................................................................................................................................. 40

    BAlANCE ShEETS ..................................................................................................................................................... 42

    STATEMENT Of ChANGES iN EquiTy ................................................................................................................... 44

    CASh flOw STATEMENTS ....................................................................................................................................... 47

    NOTES TO ThE fiNANCiAl STATEMENTS .............................................................................................................. 50

    liST Of prOpErTiES ............................................................................................................................................... 114

    ANAlySiS Of ShArEhOldiNGS ........................................................................................................................... 116

    ANAlySiS Of 2.75% 10-yEAr irrEdEEMABlE CONvErTiBlE uNSECurEd lOAN STOCkS 2010/2020 (iCulS) hOldiNGS ...................................................119

    ANAlySiS Of wArrANT hOldiNGS .................................................................................................................... 121

    prOxy fOrM

  • Notice of Annual General Meeting

    NOTICE IS HEREBY GIVEN THAT the Eighth Annual General Meeting of the Company will be held at The Ballroom, Mezzanine Floor, Hotel Equatorial, Jalan Sultan Ismail, 50250 Kuala Lumpur on Tuesday, 30 November 2010 at 9:30 a.m. for the following purposes:

    AGENDA

    1. To receive the Statutory Financial Statements for the financial year ended 31 May 2010 together with the Reports of the Directors and Auditors thereon.

    Resolution 1

    2. To approve the payment of Directors fees amounting to RM244,500 in respect of the financial year ended 31 May 2010 (2009: RM154,500.00)

    Resolution 2

    3. To re-elect the following Directors pursuant to Article 85 of the Companys Articles of Association and, being eligible, offered themselves for re-election:-(i) Encik Zainal Amanshah Bin Zainal Arshad(ii) Mr. Mathew Thomas A/L Vargis Mathews

    Resolution 3Resolution 4

    4. To re-elect the following Directors pursuant to Article 92 of the Companys Articles of Association and, being eligible, offered themselves for re-election:-(i) Dato Ibrahim Bin Che Mat(ii) Mr. Jagdish Singh Dhaliwal

    Resolution 5Resolution 6

    5. To re-appoint Messrs Crowe Horwath as Auditors of the Company and to authorise the Directors to fix their remuneration.

    Resolution 7

    AS SPECIAL BUSINESS:

    To consider and if thought fit, to pass the following resolution as Ordinary Resolution:

    6. Authority to Issue Shares Pursuant to Section 132D of the Companies Act, 1965 (the Act)

    THAT subject always to the Act and the approvals of the regulatory authorities, the Directors be and are hereby empowered pursuant to Section 132D of the Act to issue shares in the Company, at any time and upon such terms and conditions and for such purposes as the Directors may, in their absolute discretion, deem fit, provided that the aggregate number of shares issued pursuant to this resolution does not exceed 10% of the issued capital of the Company for the time being and that the Directors be and are also empowered to obtain the approval for the listing of and quotation for the additional shares so issued on the Bursa Malaysia Securities Berhad and that such authority shall continue in force until the conclusion of the next AGM of the Company.

    Resolution 8

    BY ORDER OF THE BOARDREDTONE INTERNATIONAL BERHAD

    Yeap Kok Leong (MAICSA No. 0862549)Wong Wai Foong (MAICSA No. 7001358)Company Secretaries

    Kuala Lumpur

    Dated: 8 November 2010

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  • Notice of Annual General Meeting

    Notes:

    I) A member of the Company entitled to attend and vote at the above meeting is entitled to appoint not more than two (2) proxies to attend and vote at the same meeting and the appointment shall be invalid unless he specifies the proportions of his holdings to be represented by each proxy.

    II) A proxy may but need not be a Member or a qualified legal practitioner or an approved company auditor or a person approved by the Registrar.

    III) The instrument appointing a proxy shall be in writing under the hand of the appointer or of his attorney authorised in writing or, if the appointer is a corporation, either under the corporations common seal or under the hand of an officer or attorney duly authorised.

    IV) Where a member is an authorised nominee as defined under the Securities Industry (Central Depositories) Act 1991, it may appoint one (1) proxy in respect of each Securities Account which it holds with ordinary shares of the Company standing to the credit of the said Securities Account.

    V) The instrument appointing a proxy and the power of attorney or other authority (if any), under which it is signed or a duly notarised certified copy of that power or authority, shall be deposited at the Registered Office of the Company at Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur not less than forty-eight (48) hours before the time for holding the meeting or any adjourned meeting at which the person named in the instrument proposes to vote, and in the case of a poll, not less than forty-eight (48) hours before the time appointed for the taking of the poll, and in default, the instrument of proxy shall not be treated as valid.

    Explanatory Notes on Special Business:-

    VI) Ordinary Resolution 8 - Section 132D of the Act Proposed Resolution 8 is a renewal of the Section 132D mandate obtained from the Shareholders of the Company

    at the previous Annual General Meeting and, if passed, will give the Directors of the Company, from the date of the above Meeting, authority to allot and issue ordinary shares in the Company up to an amount not exceeding in total 10% of the issued share capital of the Company for purpose of acquiring assets which may be through joint-venture or in partnership with third parties and/or for such other purposes as the Directors consider would be in the interest of the Company. This authority will, unless revoked or varied by the Company in General Meeting, expire at the next Annual General Meeting.

    Since the previous Annual General Meeting, there was no issuance of new ordinary shares by the Company pursuant to the Section 132D mandate and the Directors do not intend to utilise the Section 132D mandate from the date of issuance of this Annual Report up to the expiry date of the existing mandate.

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  • Corporate Information

    BOARD OF DIRECTORS

    Dato Ibrahim Bin Che Mat(Chairman/Independent Non-Executive Director)

    Wei Chuan Beng(Managing Director)

    Zainal Amanshah Bin Zainal Arshad(Group Chief Executive Officer)

    Lau Bik Soon(Executive Director)

    Mathew Thomas A/L Vargis Mathews(Independent Non-Executive Director)

    Dato Suriah Abd Rahman(Independent Non-Executive D