Page 161 - S P Setia Annual Report 2013
P. 161

Annual Report 2013 S P SETIA BERHAD GROUP Financial Statements | 159





NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






38. DiViDenDS

2013 2012
Rm’000 Rm’000

In respect of the year ended 31 October 2011
Final dividend of 9 sen per ordinary share of RM0.75 each less 25% income tax - 129,599

In respect of the year ended 31 October 2012
Interim dividend of 5 sen per ordinary share of RM0.75 each less 25% income tax - 75,032
Final dividend of 9 sen per ordinary share of RM0.75 each less 25% income tax 165,963 -

In respect of the year ended 31 October 2013
Interim dividend of 4 sen which consist of 1.6 sen per ordinary shares less 25%
income tax and single tier dividend of 2.4 sen per ordinary shares 88,514 -
254,477 204,631

Subsequent to 31 October 2013, the directors recommended a single tier fnal dividend of 7 sen per ordinary shares amounting to
RM172,109,858 in respect of the fnancial year ended 31 October 2013.


39. acqUiSitiOn OF SHaReS in cOmPanieS

(i) On 20 March 2013, the Group acquired the remaining 30% equity interest in Aeropod Sdn Bhd (“Aeropod”) it did not already owned for
a cash consideration of RM15,000,000. The carrying amount of Aeropod net liabilities in the Group’s fnancial statements on the date
of the acquisition was RM9,886,000. The Group recognised a decrease in retained earnings of RM17,489,000 and an increase in non-
controlling interest of RM2,489,000.

The following summarises the effect of changes in the equity interest in Aeropod that is attributable to owners of the Company:
2013
Rm’000

Equity interest at the beginning of the year (8,021)
Effect of increase in Company’s ownership interest (2,489)
Share of comprehensive loss (646)
Equity interest at 31 October 2013 (11,156)

(ii) On 21 February 2013, the Group purchased the remaining 30% equity interest in Exceljade Sdn Bhd (“Exceljade”) for a total cash
consideration of RM23,500,000, which resulted in Exceljade becoming a wholly owned subsidiary. On 20 March 2013, the Group
purchased the remaining 30% equity interest in Sendiman Sdn Bhd (“Sendiman”) for a total cash consideration of RM5,300,000, which
resulted in Sendiman becoming a wholly owned subsidiary.
In previous years, both Exceljade and Sendiman (“the Companies”) were accounted for as jointly controlled entities. During the year,
based on re-assessment of the respective shareholders’ agreement, the directors are of the opinion that the Company has control over
the Companies. Accordingly, they have been reclassifed from jointly controlled entity to subsidiary during the fnancial year.
Retrospective restatement has not been made to the fnancial statements of the Group as the reclassifcation and change in accounting
treatment is immaterial.
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