Annual Report

21470 Words86 Pages
CONTENTS Corporate Information... 2 Corporate Structure... 3 Chairman’s Statement... 4 - 5 Directors’ Profiles... 6 - 7 Financial Statements... 8 - 62 Analysis of Shareholdings... 63 - 64 Notice of Annual General Meeting... 65 Proxy Form... Enclosed Transmile Group Berhad corporate information Board of Directors Liu Tai Shin Chairman/Managing Director Auditors KPMG (AF 0758) (Chartered Accountants) Level 10, KPMG Tower 8, First Avenue Bandar Utama 47800 Petaling Jaya Selangor Darul Ehsan Mohd Lutfi bin Mat Lazim Krishnasamy A/L Rengasamy Kam Wai Peng Tan Teong Boon Registered Office Company Secretaries Chua Siew Chuan (MAICSA 0777689) Transmile Centre, Cargo Complex Sultan Abdul Aziz Shah Airport 47200 Subang…show more content…
The higher loss in the preceding year was mainly attributed to the impairment of assets held for sale of RM 167.0 million and a forced write-down of RM 103.1 million on property, plant and equipment. Accordingly, the loss per share has decreased to 18.1 sen per share from 104.9 sen per share in the preceding year. The Group’s shareholders funds now stand at negative RM 309.4 million. On operations, one of our overseas customers did not extend their wet lease contract with us when the contract expired in September 2011. Regrettably, we have also ceased to indirectly serve our major shareholder, Pos Malaysia, when all our contracts were terminated in December 2011. The Group will continue to develop new businesses while being mindful of the financial condition of the Group, especially the depleting cash flow. LITIGATION The Company’s lawsuit against former management has been stayed until conclusion of the Securities Commission’s criminal proceedings against TGB’s former Chief Executive Officer. The Company’s appeal against the stay order was dismissed on 26 March 2012 and the lawsuit is still pending. 4 cHairman’s statement (cont’d) Annual Report 2011 DIRECTORATE During the year, Tan Sri A. Razak bin Ramli, Dato’ Mohamad Idris bin Mansor, Mr Martin Giles Manen and Mr Robert John Hyslop left the Board and we would like to thank them for their past services and contributions. Mr Martin
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