Page 85 - S P Setia Annual Report 2013
P. 85

Annual Report 2013 S P SETIA BERHAD GROUP Financial Statements | 83





DiRectORS’

RePORt

FOR THE YEAR ENDED 31 OCTOBER 2013



The directors have pleasure in submitting their report and the audited fnancial statements of the Group and of the Company for the fnancial
year ended 31 October 2013.


PRinciPal actiVitieS

The Company is engaged in business as building contractors. It is also an investment holding company. The principal activities of the subsidiary
companies and jointly controlled entities are indicated in notes 6 and 8 respectively to the fnancial statements.

There have been no signifcant changes in the nature of these activities during the fnancial year.


ReSUltS
Group company
Rm’000 Rm’000
Net proft for the fnancial year 419,287 286,392


Attributable to:
Owners of the Company 417,858 286,392
Non-controlling interests 1,429 -
419,287 286,392



DiViDenDS

During the fnancial year, the Company paid the following dividends:

(a) A fnal dividend of 9 sen per ordinary share of RM0.75 each less 25% income tax amounting to RM165,963,073 in respect of the fnancial
year ended 31 October 2012, as proposed in the directors’ report for that fnancial year; and

(b) Interim dividends of 4 sen consist of 1.6 sen per ordinary share of RM0.75 each less 25% income tax and single tier dividend of 2.4 sen per
ordinary share amounting to RM88,513,635 in respect of the fnancial year ended 31 October 2013.

The directors now recommend a single tier fnal dividend of 7 sen per ordinary share of RM0.75 each amounting to RM172,109,858 in respect of
the fnancial year ended 31 October 2013. The fnancial statements for the current fnancial year do not refect this proposed dividend, which if
approved by the shareholders, will be accounted for in equity as an appropriation of retained earnings for the fnancial year ending 31 October
2014.


ReSeRVeS anD PROViSiOnS

There were no material transfers to or from reserves or provisions during the fnancial year except as disclosed in the statements of changes in
equity set out on pages 93 to 94.
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