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125
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
12. DEFERRED TAX (continued)
Unrecognised deferred tax assets
Deferred tax assets of RM2,301,000 (31.3.2012: RM1,841,000; 1.4.2011: RM4,409,000) and RM1,416,000
(31.3.2012: RM320,500; 1.4.2011: RM412,000) of the Group and of the Company respectively have not been
recognised in respect of the following temporary differences because it is not certain if future taxable prots of
sufcient quantum will be available against which the affected group entities can utilise the benets therefrom:
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Property, plant and equipment (1,268,000) (5,395,000) (13,631,000) (1,605,000) (1,696,000) (1,059,000)
Biological assets - - (20,425,000) - - -
Capital allowances carried
forward 3,508,000 8,664,000 31,310,000 3,473,000 2,965,000 2,695,000
Tax losses carried forward 7,269,000 3,674,000 20,380,000 3,796,000 13,000 13,000
Other provisions (307,000) 419,000 - - - -
9,202,000 7,362,000 17,634,000 5,664,000 1,282,000 1,649,000
The unabsorbed capital allowances carried forward and unutilised tax losses carried forward of group entities
incorporated in Malaysia amounting to RM8,685,000 (31.3.2012: RM8,681,000; 1.4.2011: RM47,326,000) do not
expire under the current Malaysian tax legislation except that in the case of a dormant company, such allowances
and losses will not be available to the company if there is a substantial change of 50% or more in the shareholdings
thereof. During the nancial year, unabsorbed capital allowances brought forward of RM2,188,000 have been
forfeited due to the cessation of a production line in the manufacturing division.
Unutilised tax losses carried forward of a foreign subsidiary amounting to RM2,092,000 (31.3.2012: RM3,535,000;
1.4.2011: RM4,344,000) can be claimed as a deduction against future taxable income within three years of incurrence
of such losses. During the current nancial year, tax losses brought forward of RM1,759,000 have expired.
13. INVENTORIES - GROUP
31.3.2013 31.3.2012 1.4.2011
RM RM RM
At cost:
Raw materials and consumables 22,163,585 16,310,526 24,624,455
Manufactured/Trading inventories 22,552,081 21,024,264 18,464,953
Oil palm nursery inventories - 711,667 963,219
Construction materials 1,172,479 1,097,574 553,812
45,888,145 39,144,031 44,606,439
At net realisable value:
Manufactured/Trading inventories - 658,298 700,700
Construction materials 180,351 180,351 1,926,041
180,351 838,649 2,626,741
Total 46,068,496 39,982,680 47,233,180
126
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
14. PROPERTY DEVELOPMENT COSTS - GROUP
RM
Property development costs incurred during 2013 nancial year and balance at 31 March 2013 1,649,353
Property development costs incurred during the nancial year include:
RM
Personnel expenses
- contributions to state plans 44,361
- wages, salaries and others 384,789
The Group via its subsidiary, Loyal Paragon Sdn. Bhd. entered into a joint venture agreement with a third party to
develop a parcel of leasehold land belonging to the third party on 20 December 2011 [see Note 10.2 (b)].
Property development costs are project management costs and consist of administrative and technical expenses
incurred during the pre-development stage, including preparation of design and development plans, for the above
land.
15. DEPOSITS AND PREPAYMENTS
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Deposits 2,654,459 10,273,416 10,128,444 427,621 460,698 176,146
Prepayments 4,078,921 2,595,885 5,446,324 13,581 28,041 88,618
6,733,380 12,869,301 15,574,768 441,202 488,739 264,764
15.1 Included in the deposits of the Group is an amount of RM1,115,108 (31.3.2012: RM8,764,518; 1.4.2011:
RM8,742,476) paid for the purchases of construction materials, machinery and equipment respectively. The
amount will be progressively deducted against physical goods delivered.
15.2 Included in prepayments of the Group is an advance of RM2,784,449 (31.3.2012: RM1,740,300 and 1.4.2011:
RM3,630,883) paid for the purchases of construction materials, machinery and equipment and made to sub-
contractors respectively. The amount will be progressively deducted against physical goods delivered and
related works performed.
16. DERIVATIVE FINANCIAL ASSETS/LIABILITIES - GROUP
31.3.2013 31.3.2012 1.4.2011
Assets Liabilities Assets Liabilities Assets Liabilities
RM RM RM RM RM RM
Derivatives held for trading
at fair value through prot
or loss
- Forward foreign
exchange contracts 136,415 (15,083) 6,680 (7,617) 12,378 (139,408)
Nominal value of the outstanding forward foreign exchange contracts as at 31 March 2013 is RM7,126,048 (31.3.2012:
RM1,190,282; 1.4.2011: RM3,623,563).
127
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
16. DERIVATIVE FINANCIAL ASSETS/LIABILITIES - GROUP (continued)
Forward foreign exchange contracts are used to manage the foreign currency exposures arising from the Groups
receivables and payables denominated in currencies other than the functional currencies of group entities. Most of
the forward foreign exchange contracts have maturities of less than one year after the end of the reporting period.
Where necessary, the forward foreign exchange contracts are rolled over at maturity.
17. CASH AND BANK BALANCES
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Deposits placed with
licensed banks with
maturities less than
three months 243,600,515 40,388,879 18,635,762 210,329,392 33,841,459 9,215,762
Cash in hand and at banks 21,387,935 11,805,295 9,658,313 3,336,442 581,927 263,098
Total cash and cash
equivalents 264,988,450 52,194,174 28,294,075 213,665,834 34,423,386 9,478,860
Deposits pledged with
licensed banks 1,281,708 2,788,061 9,646,075 - - -
Total cash and bank balances 266,270,158 54,982,235 37,940,150 213,665,834 34,423,386 9,478,860
Deposits of RM1,281,708 (31.3.2012: RM2,788,061; 1.4.2011: RM9,646,075) are charged to licensed banks as
security for banking facilities granted to certain subsidiaries (see Note 20.2).
18. ASSETS CLASSIFIED AS HELD FOR SALE - GROUP
During the nancial year, the Group has ceased its tyre recycling operation. The Group is committed to a plan to
sell and has entered into sale and purchase agreement with a third party to dispose of certain property, plant and
equipment relating to this division. The sale is expected to be completed by 31 March 2014. As a consequence, these
property, plant and equipment have been classied as assets held for sale as at 31 March 2013. They comprise:
RM
Cost 5,483,612
Accumulated depreciation (384,638)
Carrying amount 5,098,974
Included in the assets classied as held for sale is a parcel of long-term leasehold land with a carrying amount of
RM1,740,889 (31.3.2012: RM1,761,191; 1.4.2011: RM1,781,493), the title to which has yet been issued by the
relevant authority.
128
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
19. CAPITAL AND RESERVES
19.1 Share capital
<-------------------------------------- Group and Company -------------------------------------->
31.3.2013 31.3.2012 1.4.2011
Amount Number of Amount Number of Amount Number of
RM shares RM shares RM shares
Ordinary shares
of RM0.50 each
Authorised:
Opening and
closing
balances 100,000,000 200,000,000 100,000,000 200,000,000 100,000,000 200,000,000
Issued and fully
paid:
Opening and
closing
balances 66,666,666 133,333,332 66,666,666 133,333,332 66,666,666 133,333,332
19.2 Reserves
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Foreign exchange
translation reserve (1,125,945) (473,621) - - - -
Treasury shares (4,599,294) (4,598,967) (4,598,684) (4,599,294) (4,598,967) (4,598,684)
Fair value reserve (228,264) (125,772) - (228,264) (125,772) -
Retained earnings 283,792,450 236,777,236 201,242,848 142,141,926 14,357,664 5,198,032
277,838,947 231,578,876 196,644,164 137,314,368 9,632,925 599,348
Movements in each category of reserves are disclosed in the statements of changes in equity.
Foreign exchange translation reserve - Group
The translation reserve comprises all foreign currency differences arising from the translation of the nancial
statements of the group entities with functional currencies other than RM.
Treasury shares
Shareholders of the Company, at the Annual General Meeting held on 27 September 2012, renewed the
mandate for the Company to repurchase its own shares to be retained as treasury shares. The Directors of
the Company are committed to enhancing the value of the Company to its shareholders and believe that the
repurchase plan can be applied in the best interests of the Company and its shareholders.
129
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
19. CAPITAL AND RESERVES (continued)
19.2 Reserves (continued)
Treasury shares (continued)
During the current nancial year, the Company purchased 200 units (2012: 200 units) using internal generated
funds of its issued share capital from the open market. The average price paid for the shares repurchased
was RM1.64 (2012: RM1.42) per share. The total consideration paid was RM327 (2012: RM283) including
transaction costs of RM82 (2012: RM82).
The total number of shares repurchased as at 31 March 2013 is 6,438,300 (31.3.2012: 6,438,100; 1.4.2011:
6,437,900).
Fair value reserve
The fair value reserve comprises the cumulative net change in the fair value of nancial assets categorised as
available-for-sale until the assets are derecognised or impaired.
Retained earnings - Section 108 tax credit
Subject to agreement with the Inland Revenue Board, the Company has sufcient Section 108 tax credit and
exempt income to distribute out of its retained earnings at 31 March 2013 approximately RM19,870,000 as
franked dividends and RM42,000 as normal exempt dividends respectively. The remaining retained earnings
are distributable as single-tier exempt dividends under the single-tier company income tax system enacted
via the Finance Act 2007.
The single-tier system, which is effective from 1 January 2008, allows for a transitional period of six years.
Unless the Company elects for early migration to the system, the Section 108 tax credit will be available
to the Company until such time the credit is fully utilised or upon the expiry of the transitional period on 31
December 2013, whichever is earlier.
The tax exempt income will be available to the Company until it is fully distributed as dividends.
130
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
20. LOANS AND BORROWINGS
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Non-current
Finance lease liabilities 2,585,874 4,986,166 4,977,692 716,094 455,118 514,648
Term loans
- Unsecured 73,382,897 28,612,635 22,578,948 55,382,897 28,612,635 22,578,948
- Secured - 48,750,000 20,300,000 - - -
Unsecured Islamic bonds - - 30,000,000 - - 30,000,000
Non-current total 75,968,771 82,348,801 77,856,640 56,098,991 29,067,753 53,093,596
Current
Finance lease liabilities 1,381,430 2,537,536 1,935,284 143,823 59,530 55,862
Unsecured bankers
acceptances 39,896,729 57,974,000 37,738,000 - - -
Unsecured term loan 17,872,595 24,695,461 6,157,895 17,872,595 10,729,738 6,157,895
Unsecured Islamic bonds - 25,000,000 - - 25,000,000 -
Unsecured revolving credits - 5,000,000 - - - -
Bank overdrafts
- Secured - 524,250 - - - -
- Unsecured - 595,662 - - - -
Current total 59,150,754 116,326,909 45,831,179 18,016,418 35,789,268 6,213,757
Total 135,119,525 198,675,710 123,687,819 74,115,409 64,857,021 59,307,353
131
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
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132
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
20. LOANS AND BORROWINGS (continued)
20.2 Security
Company
Unsecured term loan
The unsecured term loan of the Company is covered by way of:
a) corporate guarantees from four subsidiaries for RM200,000,000;
b) negative pledges from the Company and the four subsidiaries;
c) assignment of dividend proceeds from all subsidiaries to its escrow account;
d) placement in General Investment Account; and
e) charge over the escrow accounts of the Company and a subsidiary.
Subsidiaries
Unsecured term loan
An unsecured term loan of a subsidiary, which is part of the credit facilities obtained thereby during the
nancial year is covered by way of:
a) corporate guarantee from the Company;
b) third party rst legal charge over the Project Land [see Note 10.2(b)];
c) deed of subordination of advances from the Company/shareholders/ directors;
d) Power of Attorney in favour of the bank to appoint a contractor at the banks discretion to proceed and
complete the entire development in the event of repayment default and/or inability to complete the
project; and
e) letter of undertaking from the Company to ensure the completion of the project and meet any cost
overrun on any cash ow decits during the tenure.
Other banking facilities
The banking facilities comprising letters of credit, bankers acceptances and bank guarantees granted to a
subsidiary are secured by way of:
a) corporate guarantee from the Company;
b) charge over term deposits by way of sinking fund (see Note 17);
c) deed of assignment of contract proceeds; and
d) negative pledge over its present and future assets.
Other banking facilities granted to other subsidiaries are principally guaranteed by the Company and negative
pledge over their present and future assets.
Finance lease liabilities
The nance lease liabilities are secured on the respective nance lease assets of the Group and of the
Company. Outstanding nance lease liabilities of RM2,284,870 (31.3.2012: RM5,960,964; 1.4.2011:
RM5,710,626) granted to certain subsidiaries are guaranteed by the Company.
133
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
20. LOANS AND BORROWINGS (continued)
20.3 Signicant covenants for borrowings
The Group is required to maintain the following nancial ratios throughout the tenure of the facilities:
Unsecured term loan - gearing ratio not exceeding 1.50 times; and
- nance service cover ratio of not less than 1.50 times.
21. TRADE AND OTHER PAYABLES
<------------------- Group -------------------> <----------------- Company ---------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Trade
Trade payables (Note 21.1) 36,387,840 45,790,647 37,326,502 - - -
Amount due to contract
customers (Note 10.3) 16,669,348 13,438,307 26,953,524 - - -
Accrued expenses 13,956,557 11,079,163 10,407,574 - - -
67,013,745 70,308,117 74,687,600 - - -
Non trade
Subsidiaries (Note 21.2) - - - 31,180,119 61,012,060 36,552,304
Associate (Note 21.3) 299,766 - - 299,766 - -
Advance payments from
contract customers
(Note 21.4) 4,015,934 8,032,851 13,827,154 - - -
Accrued expenses 28,748,632 27,818,222 16,174,737 12,039,386 3,449,653 3,179,104
Other payables 5,453,288 2,057,141 2,091,113 609,374 1,301,559 134,977
A corporate shareholder
(Note 21.5) 4,000,000 - - - - -
42,517,620 37,908,214 32,093,004 44,128,645 65,763,272 39,866,385
Total 109,531,365 108,216,331 106,780,604 44,128,645 65,763,272 39,866,385
134
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
21. TRADE AND OTHER PAYABLES (continued)
21.1 Trade payables of the Group include retention sums of RM5,696,699 (31.3.2012: RM4,422,594; 1.4.2011:
RM2,434,477).
21.2 Amount due to subsidiaries is unsecured and bears interest at 5.50% (31.3.2012 and 1.4.2011: 5.00%) per
annum.
21.3 Amount due to an associate is unsecured, interest free and repayable on demand.
21.4 Advance payments from contract customers of RM4,015,434 (31.3.2012: RM4,533,143; 1.4.2011:
RM6,951,259) is received from the Government of Syrian Arab Republic in respect of construction works of
sewerage and water treatment plants by a subsidiary (see Note 10.4).
21.5 Advance from a corporate shareholder of a subsidiary is unsecured, interest free and repayable on demand.
22. REVENUE
Group Company
2013 2012 2013 2012
RM RM RM RM
Continuing operations
Contract revenue 146,684,757 131,538,231 - -
Sale of goods 196,820,945 140,285,847 - -
Services rendered 27,922,068 27,393,318 - -
Share of rental proceeds of telecommunication
towers 9,131,568 10,290,845 - -
Dividend income from:
- subsidiaries (unquoted in Malaysia) - - 19,850,700 8,089,000
- quoted investments - - 43,584 42,065
Management fee income - - 10,701,286 12,733,200
380,559,338 309,508,241 30,595,570 20,864,265
135
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
23. PROFIT FOR THE FINANCIAL YEAR
Group Company
2013 2012 2013 2012
RM RM RM RM
Prot for the nancial year is arrived at
after charging:
Auditors remuneration:
- Audit fees
- KPMG Malaysia 394,000 348,000 80,000 63,000
- Overseas afliates of KPMG Malaysia 33,780 31,988 - -
- Non-audit fees
- KPMG Malaysia 119,333 42,000 119,333 42,000
- Local afliates of KPMG Malaysia 238,500 129,700 144,200 45,000
Allowance for impairment loss on:
- receivables 2,190,270 5,320,933 - 610,000
- property, plant and equipment 452,663 - - -
- goodwill (Note 8) - 1,349,953 - -
Amortisation of:
- other intangible assets (Note 9.2) 4,024,026 3,936,615 - -
- goodwill (Note 8) 82,410 430,338 - -
- prepaid lease payments (Note 4) 107,569 107,569 - -
Bad debts written off - - - 6,146
Depreciation of property, plant and equipment
(Note 3.4) 8,992,401 8,882,310 1,030,697 804,345
Interest expense
- continuing operations 4,386,930 4,188,785 6,018,082 5,236,376
- discontinued operation 885,531 854,442 - -
Loss on disposal of property, plant and
equipment - - 53,182 -
Loss from changes in fair value of biological
assets (Note 5) 57,022,402 - - -
Property, plant and equipment written off 485,995 76,249 4,405 -
Rental of premises and equipment 1,742,858 1,490,359 1,541,382 966,384
Rental of land 642,665 849,040 - -
Foreign exchange loss
- realised - - 52 6,397
- unrealised 1,061,197 - - -
136
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
23. PROFIT FOR THE FINANCIAL YEAR (continued)
Group Company
2013 2012 2013 2012
RM RM RM RM
Prot for the nancial year is arrived at
after crediting:
Derivative gain on forward foreign exchange
contracts 114,651 27,212 - -
Dividend income from:
- subsidiaries (unquoted in Malaysia) - - 19,850,700 8,089,000
- quoted investments 43,584 47,465 43,584 42,065
Gain from changes in fair value of biological
assets (Note 5) - 36,270,839 - -
Gain on disposal of:
- property, plant and equipment 1,143,120 3,198,649 - 2,584,137
- other investments 627 144,532 627 110,515
- subsidiaries 59,876,305 - 127,177,929 -
Foreign exchange gain
- realised 41,954 406,708 35 -
- unrealised - 139,989 - -
Hire of equipment - - 44,625 37,950
Income from rental of furnished premises 117,800 85,800 1,814,192 1,471,892
Interest income
- continuing operations 3,053,197 2,441,573 5,630,591 4,519,508
- discontinued operation 8,152 6,535 - -
Reversal of:
- allowance for impairment loss on
receivables 4,126,434 550,464 - -
- allowance for impairment loss on
investment in subsidiaries - - - 5,222,402
Employee benets disclosed in prot or loss include:
Group Company
2013 2012 2013 2012
RM RM RM RM
Contributions to state plans 3,513,534 3,077,154 1,000,431 836,279
137
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
24. INTEREST INCOME AND INTEREST EXPENSE
Recognised in prot or loss
Continuing operations
Group Company
2013 2012 2013 2012
RM RM RM RM
Interest income
- interest income from term deposits 2,051,629 840,426 1,189,113 448,972
- interest income from debentures 763,769 934,999 - -
- interest income from other nancial assets 237,799 666,148 747,682 395,510
- interest income from subsidiaries - - 3,693,796 3,675,026
3,053,197 2,441,573 5,630,591 4,519,508
Interest expense
- interest expense from loans and borrowings 4,379,815 4,171,722 3,893,644 3,281,796
- interest expense from other nancial liabilities 7,115 17,063 - -
- interest charged by subsidiaries - - 2,124,438 1,954,580
4,386,930 4,188,785 6,018,082 5,236,376
25. COMPENSATIONS TO KEY MANAGEMENT PERSONNEL
Compensations paid/payable to key management personnel are as follows:
Group Company
2013 2012 2013 2012
RM RM RM RM
Directors of the Company
- Fees 354,000 345,933 324,000 309,933
- Other short-term employee benets 4,493,870 4,788,740 2,158,249 2,977,020
4,847,870 5,134,673 2,482,249 3,286,953
138
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
25. COMPENSATIONS TO KEY MANAGEMENT PERSONNEL (continued)
Compensations paid/payable to key management personnel are as follows: (continued)
Group Company
2013 2012 2013 2012
RM RM RM RM
Other key management personnel
- Fees 184,489 246,782 - -
- Other short-term employee benets 7,197,429 7,828,237 2,091,650 2,014,138
- Benets-in-kind - 680 - -
7,381,918 8,075,699 2,091,650 2,014,138
Total 12,229,788 13,210,372 4,573,899 5,301,091
Other key management personnel comprise persons, other than the Directors, having authority and responsibility for
planning, directing and controlling the activities of the Group either directly or indirectly.
26. TAX EXPENSE
Recognised in prot or loss
Group Company
2013 2012 2013 2012
RM RM RM RM
Income tax expense on continuing operations 13,210,768 6,388,339 3,396,874 970,087
Income tax on discontinued operation
(excluding gain on sale) (Note 29) (16,163,694) 5,382,600 - -
Real property gain tax on sale of discontinued
operation (Note 29) 4,158,606 - 4,158,606 -
Total tax expense 1,205,680 11,770,939 7,555,480 970,087
Current tax expense
Continuing operations
Malaysian
- current year 14,655,016 11,503,590 3,274,000 1,230,000
- prior years 663,731 (1,172,203) 122,874 (259,913)
Subtotal 15,318,747 10,331,387 3,396,874 970,087
Discontinued operation
- current year 63,000 84,000 - -
Total current tax 15,381,747 10,415,387 3,396,874 970,087
139
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
26. TAX EXPENSE (continued)
Recognised in prot or loss (continued)
Group Company
2013 2012 2013 2012
RM RM RM RM
Deferred tax (income)/expense (Note 12)
Continuing operations
- current year (2,020,951) (3,291,589) - -
- prior years (87,028) (651,459) - -
(2,107,979) (3,943,048) - -
Discontinued operation
- current year (16,367,694) 5,298,600 - -
- prior years 141,000 - - -
(16,226,694) 5,298,600 - -
Total deferred tax (18,334,673) 1,355,552 - -
Real property gain tax on sale of
discontinued operation 4,158,606 - 4,158,606 -
Total tax expense 1,205,680 11,770,939 7,555,480 970,087
Reconciliation of tax expense
Group Company
2013 2012 2013 2012
RM RM RM RM
Prot for the nancial year 26,472,731 54,760,113 131,591,116 12,966,492
Total tax expense
- continuing operations 13,210,768 6,388,339 7,555,480 970,087
- discontinued operation (Note 29) (12,005,088) 5,382,600 - -
1,205,680 11,770,939 7,555,480 970,087
Prot excluding tax 27,678,411 66,531,052 139,146,596 13,936,579
Income tax calculated using Malaysian tax rate
of 25% (2012: 25%) 6,920,000 16,633,000 34,787,000 3,484,000
Effect of different tax rates in foreign
jurisdictions (10,000) (41,000) - -
Income of foreign source not subject to
Malaysian tax 1,333,000 (262,800) - -
Gain on disposal of discontinued operation/
investment in subsidiaries not subject
to income tax (14,969,000) - (31,794,000) -
Subtotal (6,726,000) 16,329,200 2,993,000 3,484,000
140
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
26. TAX EXPENSE (continued)
Reconciliation of tax expense (continued)
Group Company
2013 2012 2013 2012
RM RM RM RM
Subtotal (continued) (6,726,000) 16,329,200 2,993,000 3,484,000
Non-deductible expenses/(Non-taxable income) 2,241,971 1,406,401 (814,500) (2,093,500)
Depreciation and amortisation expenses
capitalised into biological assets (547,600) (651,000) - -
Utilisation of reinvestment allowance - (745,000) - -
Reversal of deferred tax liability on realisation
of previous revaluation of assets (86,000) (177,000) - (69,000)
Expired tax losses brought forward 440,000 - - -
Forfeited capital allowances brought forward 547,000 - - -
Movements in unrecognised deferred tax assets 460,000 (2,568,000) 1,095,500 (91,500)
(3,670,629) 13,594,601 3,274,000 1,230,000
Under/(Over)-provision in prior years 717,703 (1,823,662) 122,874 (259,913)
Real property gain tax on the sale of
discontinued operation 4,158,606 - 4,158,606 -
Total tax expense 1,205,680 11,770,939 7,555,480 970,087
27. EARNINGS PER ORDINARY SHARE - GROUP
Basic/Diluted earnings per ordinary share
The calculation of basic/diluted earnings per ordinary share was based on the prot attributable to ordinary
shareholders and the weighted average number of ordinary shares outstanding calculated as follows:
Prot attributable to ordinary shareholders
2013 2012
RM RM
Prot for the nancial year attributable to owners of the Company
- continuing operations 18,144,373 24,326,914
- discontinued operation 32,627,982 15,014,334
50,772,355 39,341,248
141
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
27. EARNINGS PER ORDINARY SHARE - GROUP (continued)
Weighted average number of ordinary shares
2013 2012
Issued ordinary shares at beginning of nancial year (Note 19) 133,333,332 133,333,332
Less: Cumulative effect of treasury shares bought back in previous
nancial years (6,438,100) (6,437,900)
126,895,232 126,895,432
Effect of ordinary shares repurchased during the nancial year (133) (133)
Weighted average number of ordinary shares outstanding at the end of
the nancial year 126,895,099 126,895,299
Basic earnings per ordinary share (sen)
- continuing operations 14.30 19.17
- discontinued operation 25.71 11.83
28. DIVIDENDS
28.1 Dividends per ordinary share
Dividends per ordinary share as disclosed below relates to the total dividends declared or proposed for the
nancial year.
Company
2013 2012
Gross dividend per share (sen) 5.50 4.00
28.2 Dividends expense
Total dividends recognised in the statements of changes in equity comprise:
Sen per share
(net of tax)
Total
amount Date of payment
RM
2013
Final 2012 ordinary 3.00 3,806,854 22 November 2012
2012
Final 2011 ordinary 3.00 3,806,860 22 November 2011
142
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
28. DIVIDENDS (continued)
28.2 Dividends expense (continued)
After the end of the reporting period, the Directors have proposed the following dividends in respect of the
nancial year ended 31 March 2013, to be paid once approved by shareholders at the forthcoming Annual
General Meeting and which will be recognised in subsequent nancial reports:
a) a rst and nal dividend of 4.00 sen per ordinary share of RM0.50 each less tax at 25% totalling
RM3,806,848 (equivalent to 3.00 sen net per ordinary share); and
b) a special dividend of 1.50 sen per ordinary share of RM0.50 each less tax at 25% totalling RM1,427,568
(equivalent to 1.13 sen net per ordinary share).
29. DISPOSAL OF A DISCONTINUED OPERATION - OIL PALM PLANTATION DIVISION - GROUP
The Group completed the disposal of its oil palm plantation division on 27 February 2013 following the fulllment
of the conditions precedent set out in the Share Sale Agreements entered into with the acquirer [see Note 33(iv)].
The segment was not a discontinued operation or classied as held for sale as at 31 March 2012. However, for
comparability purposes, the comparative consolidated statement of prot or loss and other comprehensive income
has been re-presented to show the discontinued operation separately from continuing operations, as if the oil palm
plantation division was a discontinued operation in the nancial year ended 31 March 2012.
Prot/(Loss) attributable to the discontinued operation was as follows:
Results from discontinued operation
1.4.2012 -
27.2.2013
1.4.2011 -
31.3.2012
RM RM
Revenue 2,622,725 173,633
Other income 737,875 87,582
(Loss)/Gain from changes in fair value of biological assets (Note 23) (57,022,402) 36,270,839
Expenses (7,835,537) (1,851,110)
Results from operating activities (61,497,339) 34,680,944
Interest income 8,152 6,535
Interest expense (885,531) (854,442)
Net interest expense (877,379) (847,907)
(Loss)/Prot before tax carried down (62,374,718) 33,833,037
143
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
29. DISPOSAL OF A DISCONTINUED OPERATION - OIL PALM PLANTATION DIVISION - GROUP (continued)
Results from discontinued operation (continued)
1.4.2012 -
27.2.2013
1.4.2011 -
31.3.2012
RM RM
(Loss)/Prot before tax brought down (62,374,718) 33,833,037
Current tax
Malaysian - current year (63,000) (84,000)
Deferred tax
- current year 16,367,694 (5,298,600)
- prior years (141,000) -
16,226,694 (5,298,600)
Real property gain tax on sale of discontinued operation (4,158,606) -
Total tax income/(expense) (Note 26) 12,005,088 (5,382,600)
(Loss)/Prot after tax (50,369,630) 28,450,437
Gain on sale of discontinued operation (Note 23) 59,876,305 -
Prot for the nancial period/year 9,506,675 28,450,437
Results from discontinued operation were arrived at after charging:
1.4.2012 -
27.2.2013
1.4.2011 -
31.3.2012
RM RM
Auditors remuneration:
- Audit fees
- KPMG Malaysia - 20,000
- Non-audit fees
- KPMG Malaysia - 6,900
Depreciation of property, plant and equipment 646,933 403,250
Interest expense:
- loans and borrowings 748,232 551,150
- other nancial liabilities 137,299 303,292
Loss from changes in fair value of biological assets 57,022,402 -
Property, plant and equipment written off 35,964 1,480
and after crediting:
Income from rental of land - 22,800
Interest income
- term deposits 8,152 6,535
Gain from changes in fair value of biological assets - 36,270,839
Employee benets disclosed in prot or loss included contributions to state plans of RM89,729 (2012: RM49,117).
144
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
29. DISPOSAL OF A DISCONTINUED OPERATION - OIL PALM PLANTATION DIVISION - GROUP (continued)
Cash ow from/(used in) discontinued operation
2013 2012
RM RM
Net cash used in operating activities (8,548,773) (749,913)
Net cash from/(used in) investing activities 140,650,125 (19,366,286)
Net cash from nancing activities 16,980,854 26,529,930
Effect on cash ows 149,082,206 6,413,731
Effect of disposal on the nancial position of the Group
2013
Note RM
Property, plant and equipment 3 76,848,450
Biological assets 5 248,085,716
Inventories 837,779
Trade and other receivables 783,219
Current tax recoverable 14
Deposits and prepayments 342,703
Deferred tax liabilities 12 (50,721,039)
Loans and borrowings (52,696,071)
Trade and other payables (54,260,216)
Current tax payables (6,132)
Non-controlling interests 33 (78,865,626)
Net assets 90,348,797
Gain on sale of discontinued operation 23 59,876,305
Consideration received, satised in cash 150,225,102
Cash and cash equivalents disposed of 1,826,442
Net cash in ows 152,051,544
30. CAPITAL EXPENDITURE COMMITMENTS
<--------------------- Group ----------------------> <-------------------- Company ------------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Property, plant and
equipment and
biological assets
Within one year
- Authorised
but not
contracted
for 21,891,000 46,424,000 50,523,000 1,209,000 648,000 35,000
- Contracted but
not provided
for 1,395,000 490,000 2,054,000 - - -
23,286,000 46,914,000 52,577,000 1,209,000 648,000 35,000
145
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
31. OPERATING SEGMENTS
The Group has four reporting segments, which are the Groups strategic business units. For each of the strategic
business units, the Group Managing Director, being the Chief Operating Decision Maker, reviews internal management
reports for resource allocation and decision making at least on a quarterly basis.
The following summary describes the operations in each of the Groups existing reporting segments:
(a) Manufacturing
- Manufacture and sale of polyethylene engineering (HDPE) products, reclaimed rubber and trading of
other specialised and technical engineering products
(b) Works
i) Telecommunication towers
- Construction of telecommunication towers and share of rental proceeds of telecommunication
towers
ii) Water, wastewater treatment and other infrastructure
- Design, construction and installation of water supply, storage infrastructure and treatment systems,
wastewater treatment specialised systems, hydro systems and other infrastructure
(c) Services
- Sewerage treatment services, treatment and disposal of sludge services as well as underground mapping
of buried utilities, closed circuit television survey and investigation and rehabilitation of underground sewer
and pipeline networks and storm water culverts
(d) Plantations
- Cultivation of oil palms and sale of fresh fruit bunches. This segment has been disposed of during the
nancial year and the disposal was completed on 27 February 2013 (see Note 29).
There are varying levels of integration between the reportable segments. Inter-segment pricing is determined on
negotiated terms.
Performance is measured based on segment prot before tax as included in the internal management reports.
Segment prot is used to measure performance as management believes that such information is the most relevant
in evaluating the results of certain segments relative to other entities that operate within these industries.
Segment assets and liabilities
The Group Managing Director reviews the statements of nancial position of subsidiaries for decision making
and resources allocation, instead of a summary of total consolidated assets and liabilities by segments. As such,
information on segment assets and segment liabilities is not presented.
Geographical segments and major customers
Group sales were mostly to customers in Malaysia and there were very limited export sales.
Prospective segment Property development
The Group expects to launch its maiden property development project in the third quarter of the nancial year ending
31 March 2014.
146
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
31. OPERATING SEGMENTS (continued)
<-------------------------- Continuing operations -------------------------->
<-------------- Works -------------->
Manufacturing
Telecom-
munication
towers
Water,
wastewater
treatment
and other
infrastructure Services Consolidated
2013 RM RM RM RM RM
Segment results
Revenue from external customers 196,820,945 32,027,929 123,788,396 27,922,068 380,559,338
Segment prot before tax 22,398,961 6,785,418 1,940,769 1,140,897 32,266,045
Unallocated corporate expenses (2,084,903)
Share of results of equity
accounted associate (4,318)
Prot before tax 30,176,824
Tax expense (13,210,768)
Prot for the nancial year 16,966,056
Prot from discontinued operation 9,506,675
Other comprehensive losses (1,020,129)
Total comprehensive income
for the nancial year 25,452,602
Non-controlling interests 24,564,937
Total comprehensive income
for the nancial year attributable
to owners of the Company 50,017,539
Included in the measure of
segment prot are:
Depreciation and amortisation 7,420,384 3,910,850 166,074 1,062,165 12,559,473
Interest expense 2,945,247 316,531 1,050,117 75,035 4,386,930
Interest income (2,322,095) (116,879) (460,978) (153,245) (3,053,197)
Net allowance/(reversal) for
impairment loss on:
- property, plant and
equipment 452,663 - - - 452,663
- receivables 2,051,556 - (3,988,620) 900 (1,936,164)
147
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
31. OPERATING SEGMENTS (continued)
<-------------------------- Continuing operations -------------------------->
<-------------- Works -------------->
Manufacturing
Telecom-
munication
towers
Water,
wastewater
treatment
and other
infrastructure Services Consolidated
2012 RM RM RM RM RM
Segment results
Revenue from external customers 140,285,847 66,434,464 75,394,612 27,393,318 309,508,241
Segment prot/(loss) before tax 12,671,729 16,505,159 5,742,282 (529,013) 34,390,157
Unallocated corporate expenses (1,692,102)
Share of results of equity
accounted associate (40)
Prot before tax 32,698,015
Tax expense (6,388,339)
Prot for the nancial year 26,309,676
Prot from discontinued operation 28,450,437
Other comprehensive losses (985,346)
Total comprehensive income
for the nancial year 53,774,767
Non-controlling interests (15,032,912)
Total comprehensive income
for the nancial year attributable
to owners of the Company 38,741,855
Included in the measure of
segment prot/(loss) are:
Depreciation and amortisation 7,985,821 4,108,022 90,502 769,237 12,953,582
Interest expense 2,764,355 349,463 971,070 103,897 4,188,785
Interest income (1,546,423) (37,811) (694,628) (162,711) (2,441,573)
Net allowance/(reversal) for
impairment loss on:
- goodwill - - - 1,349,953 1,349,953
- receivables 1,128,018 - 3,697,044 (54,593) 4,770,469
148
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
31. OPERATING SEGMENTS (continued)
Geographical segments
In presenting information on the basis of geographical segments, segment revenue is based on the geographical
location of customers.
Malaysia Middle East
Other
countries Consolidated
2013 2012 2013 2012 2013 2012 2013 2012
RM RM RM RM RM RM RM RM
Revenue from
external
customers
(see Note 22)
- continuing
operations 373,283,051 293,273,248 2,157,535 11,318,207 5,118,752 4,916,786 380,559,338 309,508,241
Major customers
The following are major customers with revenue equal to or more than 10 percent of the Group revenue:
Revenue
2013 2012 Segment
RM RM
A contract customer in Malaysia - 56,139,632 Works - Telecommunication towers
A contract customer in Malaysia 59,454,998 -
Works - Water, wastewater treatment and other
infrastructure
Save as disclosed, no counterparties individually contributed to 10% or more of the Group revenue.
149
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS
32.1 Categories of nancial instruments
The table below provides an analysis of nancial instruments categorised as follows:
(i) Loans and receivables (L&R);
(ii) Fair value through prot or loss (FVTPL) - designated upon initial recognition (DUIR);
(iii) Available-for-sale nancial assets (AFS); and
(iv) Other nancial liabilities measured at amortised cost (FL).
Carrying
amount L&R/(FL) AFS FVTPL
Group RM RM RM RM
Financial assets/(liabilities)
31.3.2013
Other investments 1,375,120 - 1,375,120 -
Trade and other receivables 160,236,702 160,236,702 - -
Derivative nancial assets 136,415 - - 136,415
Cash and bank balances 266,270,158 266,270,158 - -
Loans and borrowings (135,119,525) (135,119,525) - -
Trade and other payables (88,846,083) (88,846,083) - -
Derivative nancial liabilities (15,083) - - (15,083)
31.3.2012
Other investments 1,452,473 - 1,452,473 -
Trade and other receivables 183,673,270 183,673,270 - -
Derivative nancial assets 6,680 - - 6,680
Cash and bank balances 54,982,235 54,982,235 - -
Loans and borrowings (198,675,710) (198,675,710) - -
Trade and other payables (86,745,173) (86,745,173) - -
Derivative nancial liabilities (7,617) - - (7,617)
1.4.2011
Other investments 438,621 - 438,621 -
Trade and other receivables 114,668,211 114,668,211 - -
Derivative nancial assets 12,738 - - 12,738
Cash and bank balances 37,940,150 37,940,150 - -
Loans and borrowings (123,687,819) (123,687,819) - -
Trade and other payables (65,999,926) (65,999,926) - -
Derivative nancial liabilities (139,408) - - (139,408)
150
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.1 Categories of nancial instruments (continued)
Carrying
amount L&R/(FL) AFS
Company RM RM RM
Financial assets/(liabilities)
31.3.2013
Other investments 1,053,120 - 1,053,120
Trade and other receivables 28,614,493 28,614,493 -
Cash and bank balances 213,665,834 213,665,834 -
Loans and borrowings (77,115,409) (77,115,409) -
Trade and other payables (44,128,645) (44,128,645) -
31.3.2012
Other investments 1,130,473 - 1,130,473
Trade and other receivables 54,346,745 54,346,745 -
Cash and bank balances 34,423,386 34,423,386 -
Loans and borrowings (64,857,021) (64,857,021) -
Trade and other payables (65,763,272) (65,763,272) -
1.4.2011
Other investments 15,821 - 15,821
Trade and other receivables 106,513,982 106,513,982 -
Cash and bank balances 9,478,860 9,478,860 -
Loans and borrowings (59,307,353) (59,307,353) -
Trade and other payables (39,866,385) (39,866,385) -
151
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.2 Net gains and losses arising from nancial instruments
The table below summarises the net gains and losses arising from nancial instruments:
Group Company
2013 2012 2013 2012
RM RM RM RM
Continuing operations
Net gains/(losses) on:
Financial instruments at FVTPL 114,651 27,212 - -
AFS nancial assets (102,492) (125,772) (102,492) (125,772)
L&R (1,025,487) (1,789,238) 5,630,574 3,900,941
FL (3,366,933) (4,556,045) (6,018,080) (5,236,376)
(4,380,261) (6,443,843) (489,998) (1,461,207)
Discontinued operation
Net gains/(losses) on:
L&R 8,152 6,535 - -
FL (885,531) (854,442) - -
(877,379) (847,907) - -
32.3 Financial risk management
The Group is exposed to credit risk, liquidity risk and market risk from its use of nancial instruments.
(a) Credit risk
Credit risk is the risk of a nancial loss to the Group if a customer or counterparty to a nancial instrument
fails to meet its contractual obligations.
The Groups exposure to credit risk arises principally from its receivables from customers. A signicant
portion of these receivables are regular customers of the Group. In addition, the Company is also
exposed to credit risk arising from loans and advances to subsidiaries and nancial guarantees given to
banks for credit facilities granted to subsidiaries.
Receivables
Risk management objectives, policies and processes for managing the risk
Receivables from external parties
The Group has a formal credit policy in place mandating the credit worthiness of customers requiring
credit on sales of goods and services rendered to be reviewed to ensure the exposure to credit
risk is controlled and monitored on an on-going basis by setting appropriate credit limits and terms.
For construction projects, credit evaluation on potential customers or clients is carried out prior to
tendering. These include assessment of customers past payment records, sales level and nancial
standing.
Inter-company balances
The Company sometimes provides unsecured loans and advances to its subsidiaries, the ageing
which is not specically monitored by the Company.
152
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(a) Credit risk (continued)
Receivables (continued)
Exposure to credit risk, credit quality and collateral
As at the end of the reporting period, the maximum exposure to credit risk arising from receivables is
represented by their carrying amounts in the statements of nancial position. Cash and bank balances
are only placed with licensed banks.
Management has taken reasonable steps to ensure that receivables that are neither past due nor
impaired are stated at their realisable values. The Group monitors individually, using ageing analysis,
all receivables having signicant balances past due for more than 120 days, which are deemed to have
higher credit risk.
At the end of the reporting period, there are no signicant concentrations of credit risk other than the
following:
<------------------- Group ------------------> <----------------- Company --------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Non-current
Trade and other receivables
due from:
- a former associate of the
Group [Note 10.2(a)] - 18,036,029 16,686,833 - - -
- a joint venture party
[Note 10.2(b)] 24,405,482 - - - - -
- a contract customer in
Malaysia 16,923,393 - - - - -
Current
Amount due from four
(31.3.2012 and 1.4.2011:
three) subsidiaries - - - 23,375,016 47,708,094 103,467,157
Trade receivables from:
- a contract customer in
foreign operation (net of
impairment losses)
[Note 10.4] - 28,741,229 33,691,305 - - -
- two (31.3.2012: one)
contract customers in
Malaysia 33,650,759 55,540,806 - - - -
74,979,634 102,318,064 50,378,138 23,375,016 47,708,094 103,467,157
153
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(a) Credit risk (continued)
Receivables (continued)
Exposure to credit risk, credit quality and collateral (continued)
The exposure of credit risk for receivables as at the end of the reporting period by geographic region
was:
<------------------- Group ------------------> <----------------- Company --------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Malaysia 156,740,406 154,117,563 80,218,760 28,614,493 54,346,745 106,513,982
The Philippines 799,683 789,126 661,743 - - -
Syrian Arab Republic (net
of impairment loss) 2,696,613 28,750,881 33,784,889 - - -
Brunei Darussalam - 15,700 2,819 - - -
160,236,702 183,673,270 114,668,211 28,614,493 54,346,745 106,513,982
Details of the Groups exposure to credit risk on the receivables from Syrian Arab Republic are disclosed
in Note 10.4 to the nancial statements.
Impairment losses
The ageing of receivables (excluding inter-company non-trade balances) as at the end of the reporting
period was:
<------------------- Group ------------------> <----------------- Company --------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Age of debts
Not past due 109,007,269 146,806,604 82,843,767 4,092 5,863,821 30,000
Past due 0-30 days 13,401,359 14,214,173 7,417,174 - - -
Past due 31-60 days 9,183,500 9,577,728 6,319,776 - - -
Past due 61-90 days 4,626,947 7,720,242 2,065,025 - - -
Past due 91-120 days 3,977,592 4,326,279 2,918,966 - - -
Past due more than
120 days 26,385,519 9,386,619 17,488,890 - 1,759 5,359
166,582,186 192,031,645 119,053,598 4,092 5,865,580 35,359
Less: Allowance for
impairment loss (6,345,484) (8,358,375) (4,385,387) - - -
Total 160,236,702 183,673,270 114,668,211 4,092 5,865,580 35,359
154
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(a) Credit risk (continued)
Receivables (continued)
Impairment losses (continued)
The movements in the allowance for impairment loss of receivables during the nancial year were:
Group
RM
At 1 April 2011 4,385,387
Recognised 5,320,933
Reversals (550,464)
Write-offs (797,481)
At 31 March 2012/1 April 2012 8,358,375
Recognised 2,190,270
Reversals (4,126,434)
Write-offs (86,268)
Effect of movements in exchange rates 9,541
At 31 March 2013 6,345,484
An allowance account in respect of receivables is used to record impairment losses. Unless the Group
is satised that recovery is possible, the amount considered irrecoverable is written off against the
allowance directly.
Although the Company does not specically monitor the ageing of the loans and receivables due
from subsidiaries, there is no indication the loans and advances are not recoverable as at the end of
the reporting period other than that against which an allowance for impairment loss of RM2,710,962
(31.3.2012: RM2,710,962; 1.4.2011: RM3,088,398) has been made (see Note 10). An amount of
RM987,436 (1.4.2011: Nil) subsisting at 31 March 2012 had been written off against the allowance for
impairment loss made previously.
Financial guarantees
Risk management objectives, policies and processes for managing the risk
The Company provides unsecured nancial guarantees to banks in respect of certain banking facilities
granted to some of its subsidiaries. The Company monitors on an on-going basis the results of the
subsidiaries and repayments made thereby to ensure that they are able to meet their obligations when
due.
155
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(a) Credit risk (continued)
Financial guarantees (continued)
Exposure to credit risk, credit quality and collateral
The nancial guarantees utilised by the subsidiaries as at the end of the reporting period are summarised
as follows:
<--------------------- Company --------------------->
31.3.2013 31.3.2012 1.4.2011
RM RM RM
Loans and borrowings outstanding and recognised
in nancial statements 60,325,000 132,771,000 63,749,000
Other banking facilities not recognised in nancial
statements 29,605,000 44,764,000 42,003,000
Total (see Note 36) 89,930,000 177,535,000 105,752,000
As at end of the reporting period, there is no indication that any subsidiaries would default on repayments
of its borrowings. The nancial guarantees have not been recognised as their fair value on initial recognition
was not material and probability of the subsidiaries defaulting on the credit lines is remote.
(b) Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its nancial obligations as they fall due.
The Groups exposure to liquidity risk arises principally from its various payables, loans and borrowings.
Risk management objectives, policies and processes for managing the risk
The Group monitors and maintains a level of cash and cash equivalents/balances and banking facilities
deemed adequate by the management to nance its operations and to mitigate the effects of uctuation
in cash ows.
156
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
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3
3
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3
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9
7
5
3
,
1
1
4
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1
3
9
2
7
,
5
1
9
,
1
3
6
157
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
3
2
.
F
I
N
A
N
C
I
A
L
I
N
S
T
R
U
M
E
N
T
S
(
c
o
n
t
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n
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e
d
)
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2
.
3
F
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n
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n
c
i
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l
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k
m
a
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a
g
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m
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(
c
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t
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e
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)
(
b
)
L
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q
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d
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t
y
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s
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(
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t
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n
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)
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a
t
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t
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a
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(
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1
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2
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5
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p
(
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M
%
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.
4
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T
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6
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0
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3
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6
1
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1
7
7
,
5
4
7
2
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6
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3
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9
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5
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6
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6
6
7
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1
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8
L
o
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d
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5
1
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4
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1
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2
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3
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0
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2
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2
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4
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2
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1
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d
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3
1
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1
8
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.
5
0
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1
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1
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0
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1
1
9
3
1
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1
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0
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1
1
9
-
-
-
L
o
a
n
s
a
n
d
b
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r
r
o
w
i
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g
s
-
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i
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a
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c
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a
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s
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5
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,
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1
7
4
.
5
5
-
5
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0
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6
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6
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6
1
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1
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1
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1
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1
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n
s
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c
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r
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d
t
e
r
m
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o
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n
7
3
,
2
5
5
,
4
9
2
5
.
0
3
-
5
.
1
3
8
2
,
4
8
6
,
6
4
3
2
1
,
1
8
6
,
6
7
7
2
0
,
2
8
0
,
5
4
4
3
1
,
7
8
5
,
4
9
6
9
,
2
3
3
,
9
2
6
1
1
8
,
2
4
4
,
0
5
4
1
2
7
,
5
9
1
,
9
7
4
6
5
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4
9
7
,
3
1
3
2
0
,
4
6
2
,
5
3
5
3
2
,
2
9
2
,
6
7
1
9
,
3
3
9
,
4
5
5
158
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
3
2
.
F
I
N
A
N
C
I
A
L
I
N
S
T
R
U
M
E
N
T
S
(
c
o
n
t
i
n
u
e
d
)
3
2
.
3
F
i
n
a
n
c
i
a
l
r
i
s
k
m
a
n
a
g
e
m
e
n
t
(
c
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n
t
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n
u
e
d
)
(
b
)
L
i
q
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i
d
i
t
y
r
i
s
k
(
c
o
n
t
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n
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d
)
M
a
t
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r
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t
y
a
n
a
l
y
s
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s
(
c
o
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t
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)
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5
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t
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a
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5
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a
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s
C
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m
p
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n
y
(
c
o
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t
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n
u
e
d
)
R
M
%
R
M
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M
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M
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M
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M
3
1
.
3
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2
0
1
2
O
t
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r
p
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b
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4
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7
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1
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2
1
2
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5
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1
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1
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1
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0
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1
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0
6
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1
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0
6
0
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d
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5
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0
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3
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-
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L
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a
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5
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159
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(c) Market risk
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and
other prices risks that will affect the Groups nancial position or cash ows.
(i) Currency risk
The Group is exposed to foreign currency risk arising mainly from sales and purchases denominated
in a currency other than the respective functional currencies of group entities. The major currencies
giving rise to this risk are mostly United States Dollar (USD), Euro (EURO), Syrian Pounds (SYP),
Australian Dollar (AUD) and Great Britain Pound (GBP).
Risk management objectives, policies and processes for managing the risk
As it is not possible to predict with any certainty the movements of foreign exchange rates, this
risk is managed on an on-going and case by case basis and the Group occasionally uses forward
foreign exchange contracts to hedge its foreign currency risk. Most of the forward foreign exchange
contracts have maturities of less than one year after the end of the reporting period. Where
necessary, the forward foreign exchange contracts (see Note 16) are rolled over at maturity.
160
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
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161
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(c) Market risk (continued)
(i) Currency risk (continued)
Currency risk sensitivity analysis
The functional currencies of the foreign operations of the Group are Euro, Brunei Dollar and
Philippines Peso. The exposure to currency risk of group entities which do not have Euro, Brunei
Dollar and Philippines Peso as functional currencies is not material and hence, sensitivity analysis
is not presented.
A 10% (2012: 10%) strengthening of the RM against the following currencies at the end of the
reporting period would have increased/(decreased) pre-tax prot or loss by the amounts shown
below. This analysis is based on foreign currency exchange rate variances that the Group considered
to be reasonably possible at the end of the reporting period. This analysis assumes that all other
variables, in particular interest rates, remain constant.
Prot or loss
2013 2012
Group RM RM
USD 553,000 392,000
SYP (60,000) 138,000
A 10% (2012: 10%) weakening of RM against the above currencies at the end of the reporting
period would have had equal but opposite effect on the above currencies to the amounts shown
above, on the basis that all other variables remained constant.
(ii) Interest rate risk
The Groups investments in xed rate debt securities and its xed rate loans and borrowings are
exposed to a risk of change in their fair value due to changes in interest rates. The Groups variable
rate loans and borrowings are exposed to a risk of change in cash ows due to changes in interest
rates. Investments in equity securities and short-term receivables and payables are not signicantly
exposed to interest rate risk.
Risk management objectives, policies and processes for managing the risk
The Group nances its daily operations through a mixture of internally generated funds and
bank borrowings. Loans and borrowings with oating interest rates expose the Group to certain
elements of risk when there are unexpected adverse interest rate movements. The Groups policy
is to manage its interest rate risk, working within an agreed framework, to ensure that there are no
undue exposures thereto. Management monitors this on an on-going basis and exercises a certain
element of discretion on whether to borrow at xed or oating interest rates, depending on the
market situation and the outlook of the nancial market prevailing then.
The investments in interest-earning assets are mainly short-term in nature and they are not held for
speculative purpose but have been mostly placed as term deposits and cash funds.
162
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(c) Market risk (continued)
(ii) Interest rate risk (continued)
Exposure to interest rate risk
The interest rate prole of the Group and of the Companys signicant interest-bearing nancial
instruments, based on the carrying amounts at the end of the reporting period was:
<------------------- Group ------------------> <----------------- Company --------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Fixed rate
instruments
Financial assets 250,949,399 61,212,969 44,968,670 210,329,392 33,841,459 9,215,762
Financial liabilities (43,864,033) (95,497,702) (74,650,976) (859,917) (25,514,648) (30,570,510)
Floating rate
instruments
Financial assets - - - 25,839,624 45,705,099 103,092,020
Financial liabilities (91,255,492) (103,178,008) (49,036,843) (104,435,611) (100,354,433) (65,289,147)
Interest rate risk sensitivity analysis
(a) Fair value sensitivity analysis for xed rate instruments
The Group does not account for any xed rate nancial assets and liabilities at fair value
through prot or loss, and the Group does not designate derivatives as hedging instruments
under a fair value hedge accounting model. Therefore, a change in interest rates at the end of
the reporting period would not affect prot or loss.
(b) Cash ow sensitivity analysis for variable rate instruments
A change of 100 basis points (bp) in interest rates at the end of the reporting period would
have increased (decreased) pre-tax prot by the amounts shown below. This analysis assumes
that all other variables, in particular foreign currency rates, remain constant.
Prot or loss
100 bp
increase
100 bp
decrease
Group RM RM
Floating rate instruments
- 2013 (913,000) 913,000
- 2012 (1,032,000) 1,032,000
163
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.3 Financial risk management (continued)
(c) Market risk (continued)
(ii) Interest rate risk (continued)
Interest rate risk sensitivity analysis (continued)
(b) Cash ow sensitivity analysis for variable rate instruments (continued)
Prot or loss
100 bp
increase
100 bp
decrease
Company RM RM
Floating rate instruments
- 2013 (731,000) 731,000
- 2012 (546,000) 546,000
(iii) Other price risk
Equity price risk arises from the Groups investments in equity securities.
Risk management objectives, policies and processes for managing the risk
Management of the Group monitors the equity investments on a portfolio basis. Material
investments within the portfolio are managed on individual basis and all buy and sell decisions are
approved by management.
Equity price risk sensitivity analysis
The exposure to equity price risk is not material and hence, sensitivity analysis is not presented.
32.4 Fair value of nancial instruments
The carrying amounts of cash and bank balances, short-term receivables and payables and short-term loans and
borrowings approximate fair values due to the relatively short-term nature of these nancial instruments.
The carrying amount of non-current receivables as well as non-current loans and borrowings, which bear
interest at rates approximating the prevailing market rates, also approximates fair value are disclosed in the
ensuing pages.
164
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.4 Fair value of nancial instruments (continued)
The fair values of other nancial assets and nancial liabilities, together with the carrying amounts shown in
the statements of nancial position, are as follows:
<------ 31.3.2013 -------> <------ 31.3.2012 -------> <------- 1.4.2011 -------->
Carrying
amount
Fair
value
Carrying
amount
Fair
value
Carrying
amount
Fair
value
Group RM RM RM RM RM RM
Other investments
- Quoted shares in Malaysia 1,053,120 1,053,120 1,130,473 1,130,473 116,621 116,621
Forward foreign exchange
contracts
- Assets 136,415 136,415 6,680 6,680 12,378 12,378
- Liabilities (15,083) (15,083) (7,617) (7,617) (139,408) (139,408)
Trade and other receivables
- Non-current 50,442,212 50,442,212 18,036,029 18,036,029 16,686,833 16,686,833
Finance lease liabilities (2,585,874) (2,585,874) (4,986,166) (4,986,166) (4,977,692) (4,977,692)
Unsecured Islamic Bonds - - - - (30,000,000) (30,000,000)
Secured term loans - - (48,750,000) (48,750,000) (20,300,000) (20,300,000)
Unsecured term loans (73,382,897) (73,382,897) (28,612,635) (28,612,635) (22,578,948) (22,578,948)
Company
Other investments
- Quoted shares in Malaysia 1,053,120 1,053,120 1,130,473 1,130,473 15,821 15,821
Finance lease liabilities (716,094) (716,094) (455,118) (455,118) (514,648) (514,648)
Unsecured Islamic Bonds - - - - (30,000,000) (30,000,000)
Unsecured term loans (55,382,897) (55,382,897) (28,612,635) (28,612,635) (22,578,948) (22,578,948)
The following summarises the method used in determining the fair value of nancial instruments.
Investment in equity securities
Fair values of nancial assets that are quoted in an active market are determined by reference to their
quoted closing bid price at the end of the reporting period.
It is not practicable to estimate the fair value of the Groups investment in unquoted shares of RM322,000
(31.3.2012 and 1.4.2011: RM322,000) [see Note 11] due to lack of comparable quoted market prices.
As a result, this available-for-sale nancial asset is measured at cost in accordance with accounting
policy Note 2(c)(ii)(d). Based on the latest audited nancial statements of the investee companies for the
nancial year ended 31 December 2012, the Groups share of their net assets is RM499,000 (31.3.2012:
RM476,000; 1.4.2011: RM506,000).
165
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
32. FINANCIAL INSTRUMENTS (continued)
32.4 Fair value of nancial instruments (continued)
Derivatives
The fair value of forward foreign exchange contracts is based on their quoted price, if available. If a
quoted market price is not available, then fair value is estimated by discounting the difference between
the contractual forward price and the current forward price for the residual maturity of the contract using
a risk-free interest rate (based on government bonds).
Non-derivative nancial liabilities
Fair value, which is determined for disclosure purposes, is calculated based on the present value of
future principal and interest cash ows, discounted at the market rate of interest at the end of the
reporting period. For nance leases, the market rate of interest is determined by reference to similar
lease agreements. For Islamic Bonds, the market rate of interest is based on similar bonds with similar
ratings and periods.
Interest rates used to determine fair value
The interest rates used to discount estimated cash ows, when applicable, are as follows:
31.3.2013 31.3.2012 1.4.2011
% % %
Finance lease liabilities 3.81 - 7.31 3.81 - 7.51 3.81 - 7.51
Secured term loans - 5.96 - 7.85 6.30
Unsecured term loans 5.03 - 5.29 4.00 - 5.29 4.73
Unsecured Islamic Bonds - 4.70 4.00
32.5 Fair value hierarchy
The table below analyses nancial instruments carried at fair value, by valuation method. The different levels
have been dened as follows:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable
inputs).
The Group and the Company have applied Level 1 of the fair value hierarchy to measure its nancial assets
categorised as available-for-sale as disclosed in Note 11 and Level 2 of the fair value hierarchy to measure the
derivative nancial assets and liabilities as disclosed in Note 16.
166
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
33. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES
(i) Acquisition of new subsidiaries
On 20 September 2012, the Group through its 56.00% owned subsidiary, Weida Environmental Technology
Sdn. Bhd. (WET) acquired the entire issued and paid-up capital of Weida Bioenergy Sdn. Bhd. (WBSB)
[formerly known as Nicoplex Sdn. Bhd.], comprising 100,000 ordinary shares of RM1.00 each, for a cash
consideration of RM100,000. On 7 November 2012, WBSB issued an additional 900,000 new ordinary shares
of RM1.00 each entirely to WET for cash to raise working capital.
During the last nancial year, the Group acquired the following subsidiaries for a total consideration of RM6,
satised in cash.
Subsidiary Date of acquisition
% of equity
interest
acquired
Total
consideration
RM
31.3.2012
Weida Properties Sdn. Bhd. (WPSB) 9 November 2011 100 2
Loyal Paragon Sdn. Bhd.^ 8 December 2011 100 2
Good Axis Sdn. Bhd.^ 9 March 2012 100 2
6
^ The companies were acquired by WPSB during the nancial year ended 31 March 2012.
The effects of the acquisitions of the above subsidiaries on the Groups assets and liabilities on the date of
acquisition are/were as follows:
Pre-acquisition
carrying amounts
2013 2012
RM RM
Net identiable assets acquired, satised by cash 100,000 6
Less: Cash acquired (100,000) (6)
Net cash out ow on acquisition - -
The acquisition of the above subsidiaries has no material impact on the results of the Group for the nancial
years ended 31 March 2013 and 31 March 2012 as the said subsidiaries were acquired at their respective
dates of incorporation.
167
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
33. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES (continued)
(ii) Changes in investment in existing subsidiaries
Additional investments arising from new shares issued by existing subsidiaries
On 27 December 2012 and 26 February 2013, Loyal Paragon Sdn. Bhd. (LPSB) issued 249,998 and 2,000,000
new ordinary shares of RM1.00 each respectively to Weida Properties Sdn. Bhd. (WPSB). On 26 February
2013, LPSB also issued 250,000 new ordinary shares of RM1.00 each to a third party at par for cash. As a
consequence, LPSB became a 90.00% indirectly owned subsidiary of the Group.
The new ordinary shares subscribed by the third party are accounted for as an equity transaction between the
Group and its non-controlling interests. The change in the Groups share of net assets of RM49,713 was adjusted
against the Groups reserves at the date of completion of the transaction. The Group has also recognised a
decrease in non-controlling interests of RM49,713.
During the nancial year ended 31 March 2012, a wholly-owned subsidiary, Weida Integrated Industries Sdn.
Bhd. (WII), issued 300,000 redeemable preference shares (RPS) of RM1.00 each for a total consideration
of RM63,000,000, which were fully subscribed by the Company. The purchase consideration was settled by
way of set off against the amount due from the said subsidiary.
Decrease in investment
On 28 March 2013, WII partially redeemed 63,000 RPS of RM1.00 each for a total consideration of RM13,230,000
by way of set off against the amount due from the Company, resulting in a decrease in the Companys cost of
investment in WII.
Increase in investment
During the last nancial year, a wholly-owned subsidiary WPSB issued an additional 99,998 new ordinary shares
of RM1.00 each to the Company for cash to raise working capital.
The increase/decrease in investments during the nancial year do not have any impact to the Group as there
are no changes in the Groups equity interest in these subsidiaries.
(iii) De-registration of a subsidiary
Weida Water (ADRA) Sdn. Bhd. (WWASB) led an application to the Companies Commission of Malaysia for
de-registration pursuant to Section 308 of the Companies Act, 1965 in the last nancial year. The strike off of
WWASB does not have any material effect to the Group.
(iv) Disposal of subsidiaries
During the nancial year, the Company disposed of:-
a) 7,500,0000 Class B ordinary shares of RM1.00 each in Bumi Suria Ventures Sdn. Bhd. (BSV) representing
51.43% of the equity interest of BSV for a cash consideration of RM107,730,829 and
b) 1,151,998 ordinary shares of RM1.00 each in Maju Warisanmas Sdn. Bhd. (MWM) representing
100.00% of the equity interest of MWM for a cash consideration of RM42,494,273.
168
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
33. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES (continued)
(iv) Disposal of subsidiaries (continued)
On 20 February 2013, the Board of Directors of the Company announced that the two inter-conditional Share Sale
Agreements (SSAs) with the acquirer had become unconditional following the fulllment of the conditions
precedent set out in the SSAs. The disposals were completed for a net cash consideration of RM150,225,102
on 27 February 2013 and thereafter both BSV and MWM had ceased to be subsidiaries of the Company. As
a consequence, the oil palm plantation division is presented in the nancial statements for the nancial year
ended 31 March 2013 as a discontinued operation and the comparative consolidated statement of prot or loss
and other comprehensive income is restated to show the discontinued operation separately from continuing
operations (see Note 29 to the nancial statements).
The Group and the Company recognised gains on disposals of the oil palm plantation division of RM59,876,305
and RM127,177,929 respectively. The Group also recognised a decrease in non-controlling interests of
RM78,865,626 during the nancial year.
(v) Voluntary winding-up of a subsidiary
Weida Oil & Gas Sdn. Bhd. (WOGSB), a wholly-owned subsidiary of the Company, held its nal meeting for
members voluntary winding-up on 17 June 2013.
The Return by Liquidator Relating to Final Meeting was lodged on 18 June 2013 with the Companies Commission
of Malaysia and Ofcial Receiver, and on the expiration of three months after the said lodgement date, WOGSB
will be fully dissolved.
The voluntary winding-up of WOGSB does not have any material effect to the Group.
(vi) Internal restructuring
During the current nancial year, the Company disposed of all of its equity interest in Weida Eco Rubber Sdn.
Bhd. (WERSB) to Weida Green Industries Sdn. Bhd. for a total consideration of RM100,000 satised in cash.
The internal restructuring of WERSB has no material impact on the results of the Group as both subsidiaries are
wholly-owned by the Group.
34. EXPLANATION OF TRANSITION TO MFRSS
As stated in Note 1(a), these are the rst nancial statements of the Group and of the Company prepared in
accordance with MFRSs.
The accounting policies set out in Note 2 have been applied in preparing the nancial statements of the Group and of
the Company for the nancial year ended 31 March 2013, the comparative information presented in these nancial
statements for the nancial year ended 31 March 2012 and in the preparation of the opening MFRS statement of
nancial position at 1 April 2011 (being the Groups date of transition to MFRSs).
In preparing the opening consolidated statement of nancial position at 1 April 2011, the Group has adjusted certain
amounts reported previously in the nancial statements prepared in accordance with FRSs. An explanation of how
the transition from FRSs to MFRSs has affected the Groups nancial position, nancial performance and cash ows
is set out in the ensuing pages.
169
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.1 Reconciliation of nancial position
<-------------------- 1.4.2011 --------------------> <------------------- 31.3.2012 ------------------->
Group
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
Assets
Property, plant
and equipment (a) 159,410,964 - 159,410,964 162,688,051 - 162,688,051
Prepaid lease
payments (b) 3,646,738 (354,091) 3,292,647 3,527,602 (342,524) 3,185,078
Biological
assets (c) 33,195,753 210,940,977 244,136,730 46,130,281 247,327,355 293,457,636
Goodwill 2,519,735 - 2,519,735 739,444 - 739,444
Other intangible
assets 45,978,980 - 45,978,980 42,855,830 - 42,855,830
Trade and other
receivables 16,686,833 - 16,686,833 18,036,029 - 18,036,029
Other
investments 438,621 - 438,621 1,452,473 - 1,452,473
Deferred tax
assets 133,000 - 133,000 544,768 - 544,768
Total non-
current
assets 262,010,624 210,586,886 472,597,510 275,974,478 246,984,831 522,959,309
Inventories 47,233,180 - 47,233,180 39,982,680 - 39,982,680
Trade and other
receivables 97,981,378 - 97,981,378 165,637,241 - 165,637,241
Deposits and
prepayments 15,574,768 - 15,574,768 12,869,301 - 12,869,301
Current tax
recoverable 1,487,314 - 1,487,314 3,720,889 - 3,720,889
Derivatives
nancial
assets 12,378 - 12,378 6,680 - 6,680
Cash and bank
balances 37,940,150 - 37,940,150 54,982,235 - 54,982,235
Total current
assets 200,229,168 - 200,229,168 277,199,026 - 277,199,026
Total assets 462,239,792 210,586,886 672,826,678 553,173,504 246,984,831 800,158,335
170
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.1 Reconciliation of nancial position (continued)
<--------------------- 1.4.2011 ---------------------> <------------------- 31.3.2012 ------------------->
Group
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
Equity
Share capital 66,666,666 - 66,666,666 66,666,666 - 66,666,666
Foreign currency
translation
reserve (e) (395,432) 395,432 - (869,053) 395,432 (473,621)
Fair value reserve - - - (125,772) - (125,772)
Revaluation
reserves (a),(b) 10,690,250 (10,690,250) - 10,232,979 (10,232,979) -
Merger decit (d) (16,833,045) 16,833,045 - (16,833,045) 16,833,045 -
Treasury shares (4,598,684) - (4,598,684) (4,598,967) - (4,598,967)
Retained earnings (g) 127,142,691 74,100,157 201,242,848 149,001,441 87,775,795 236,777,236
Total equity
attributable to
owners of the
Company 182,672,446 80,638,384 263,310,830 203,474,249 94,771,293 298,245,542
Non-controlling
interests 26,164,198 77,114,297 103,278,495 27,973,806 90,337,601 118,311,407
Total equity 208,836,644 157,752,681 366,589,325 231,448,055 185,108,894 416,556,949
Liabilities
Loans and
borrowings 77,856,640 - 77,856,640 82,348,801 - 82,348,801
Deferred tax
liabilities (f) 19,802,712 52,834,205 72,636,917 12,635,300 61,875,937 74,511,237
Total non-
current
liabilities 97,659,352 52,834,205 150,493,557 94,984,101 61,875,937 156,860,038
Trade and other
payables 106,780,604 - 106,780,604 108,216,331 - 108,216,331
Derivatives
nancial
liabilities 139,408 - 139,408 7,617 - 7,617
Loans and
borrowings 45,831,179 - 45,831,179 116,326,909 - 116,326,909
Current tax
payable 2,992,605 - 2,992,605 2,190,491 - 2,190,491
Total current
liabilities 155,743,796 - 155,743,796 226,741,348 - 226,741,348
Total liabilities 253,403,148 52,834,205 306,237,353 321,725,449 61,875,937 383,601,386
Total equity and
liabilities 462,239,792 210,586,886 672,826,678 553,173,504 246,984,831 800,158,335
171
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.1 Reconciliation of nancial position (continued)
<--------------------- 1.4.2011 ---------------------> <------------------- 31.3.2012 ------------------->
Company
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
Assets
Property, plant
and equipment (a) 5,888,321 - 5,888,321 3,553,639 - 3,553,639
Investment in
subsidiaries 43,665,797 - 43,665,797 111,988,199 - 111,988,199
Investment in an
associate - - - 40 - 40
Trade and other
receivables 104,243,623 - 104,243,623 36,081,273 - 36,081,273
Other
investments 15,821 - 15,821 1,130,473 - 1,130,473
Total non-
current assets 153,813,562 - 153,813,562 152,753,624 - 152,753,624
Trade and other
receivables 2,270,359 - 2,270,359 18,265,472 - 18,265,472
Deposits and
prepayments 264,764 - 264,764 488,739 - 488,739
Current tax
recoverable 612,207 - 612,207 988,663 - 988,663
Cash and bank
balances 9,478,860 - 9,478,860 34,423,386 - 34,423,386
Total current
assets 12,626,190 - 12,626,190 54,166,260 - 54,166,260
Total assets 166,439,752 - 166,439,752 206,919,884 - 206,919,884
Equity
Share capital 66,666,666 - 66,666,666 66,666,666 - 66,666,666
Retained
earnings (g) 392,013 207,335 599,348 9,632,925 - 9,632,925
Revaluation
reserve (a) 207,335 (207,335) - - - -
Total equity 67,266,014 - 67,266,014 76,299,591 - 76,299,591
172
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.1 Reconciliation of nancial position (continued)
<------------------ 1.4.2011 ------------------> <---------------- 31.3.2012 ---------------->
Company
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition
to MFRSs
RM
MFRSs
RM
FRSs
RM
Effect of
transition
to MFRSs
RM
MFRSs
RM
Non-current
liabilities
Loans and borrowings 53,093,596 - 53,093,596 29,067,753 - 29,067,753
Trade and other
payables 39,866,385 - 39,866,385 65,763,272 - 65,763,272
Loans and borrowings 6,213,757 - 6,213,757 35,789,268 - 35,789,268
Total current
liabilities 46,080,142 - 46,080,142 101,552,540 - 101,552,540
Total liabilities 99,173,738 - 99,173,738 130,620,293 - 130,620,293
Total equity and
liabilities 166,439,752 - 166,439,752 206,919,884 - 206,919,884
34.2 Reconciliation of prot or loss and other comprehensive income for the nancial year ended 31 March
2012
Group
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
Continuing operations
Revenue 309,508,241 - 309,508,241
Other income 13,854,996 - 13,854,996
Contract costs (101,642,548) - (101,642,548)
Raw materials and consumables used (62,321,512) - (62,321,512)
Purchase of nished goods (16,656,574) - (16,656,574)
Changes in inventories (51,089) - (51,089)
Employee benets (42,270,350) - (42,270,350)
Depreciation and amortisation expenses (b) (12,965,149) 11,567 (12,953,582)
Plant and production overheads (17,543,711) - (17,543,711)
Transportation charges (7,958,942) - (7,958,942)
Other expenses (27,519,662) - (27,519,662)
Results from operating activities 34,433,700 11,567 34,445,267
173
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.2 Reconciliation of prot or loss and other comprehensive income for the nancial year ended 31 March
2012 (continued)
Group
Sub-note
to Note
34.4
FRSs
RM
Effect of
transition to
MFRSs
RM
MFRSs
RM
Continuing operations (continued)
Results from operating activities
(continued)
34,433,700 11,567 34,445,267
Interest income 2,441,573 - 2,441,573
Interest expense (4,188,785) - (4,188,785)
Net interest expense (1,747,212) - (1,747,212)
Share of results of equity accounted associate (40) - (40)
Prot before tax 32,686,448 11,567 32,698,015
Tax expense (f) (6,385,207) (3,132) (6,388,339)
Prot from continuing operations 26,301,241 8,435 26,309,676
Discontinued operation
Prot from discontinued operation,net of tax (c),(f) 1,102,659 27,347,778 28,450,437
Prot for the nancial year 27,403,900 27,356,213 54,760,113
Other comprehensive loss, net of tax
Items that may be reclassied to prot or
loss
Foreign exchange translation differences for
foreign operations (859,574) - (859,574)
Fair value changes of available-for-sale
nancial assets (125,772) - (125,772)
Total other comprehensive loss for the
nancial year (985,346) - (985,346)
Total comprehensive income for the
nancial year 26,418,554 27,356,213 53,774,767
There are no material differences between the Companys statements of prot or loss and other comprehensive
income presented under MFRSs and FRSs. Hence, no reconciliation is presented for the nancial year ended
31 March 2012 for the Company.
The FRS gures for the nancial year ended 31 March 2012 have been restated arising from the discontinued
operation as mentioned in Note 29.
174
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.3 Material adjustments to the statements of cash ows for nancial year ended 31 March 2012
There are no material differences in the net cash used in or/and from operating, investing and nancing
activities between the Groups and the Companys statements of cash ows presented under MFRSs and
the statements of cash ows presented under FRSs.
34.4 Notes to reconciliations
(a) Property, plant and equipment - Deemed cost exemption - previous revaluation
Under FRSs, the Group and the Company revalued its freehold land, leasehold land (other than prepaid
lease payments) and buildings every 5 years and at shorter intervals whenever the fair value of the
revalued assets is expected to differ materially from their carrying amount. The last valuation was carried
out in the nancial year ended 31 March 2010.
Surplus arising from revaluation is dealt with in the revaluation reserve account. Any decit arising is
offset against the revaluation reserve to the extent of a previous increase for the same property. In
other cases, a decrease in carrying amount is charged to prot or loss.
Upon transition to MFRSs, the Group and the Company elected to apply the optional exemption to use
that previous revaluation as deemed cost under MFRSs. The revaluation reserve of RM9,638,693 and
RM9,247,038 as at 1 April 2011 and 31 March 2012 respectively was reclassied to retained earnings.
The aggregate fair value of the land and buildings of the Group and the Company at 1 April 2011 was
determined to be RM92,877,310 compared to the then carrying amount of RM88,043,096 under FRSs.
The impact arising from the change is summarised as follows:
Group Company
1.4.2011 31.3.2012 1.4.2011 31.3.2012
RM RM RM RM
Consolidated statement of
nancial position
Revaluation reserve 9,638,693 9,247,038 207,335 -
Adjustment to retained earnings
[Sub-note (g)] 9,638,693 9,247,038 207,335 -
(b) Prepaid lease payments - Group
Under FRSs, the Group measured prepaid lease payments on leasehold land in accordance with the
transitional provision in FRS 117, Leases. The transitional provision allowed the Group to carry the
previously revalued leasehold land at the unamortised revalued amount when the Group rst applied
FRS 117 in 2006. This transitional provision is not available under MFRS 117.
175
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.4 Notes to reconciliations (continued)
(b) Prepaid lease payments - Group (continued)
The prepaid lease payments were revalued in 2000 for the purpose of the listing of the Group. There
was a further a valuation performed in 2005. Upon transition to MFRSs, the revalued prepaid lease
payments were restated to the unamortised revalued amount of the leasehold land during the listing
of the Group as the surrogate carrying amount of the prepaid lease payments. Since the valuation in
2005 was not event triggered, the revaluation surplus arising in 2005 was retrospectively adjusted and
reversed out.
The impact arising from the change is summarised as follows:
31.3.2012
RM
Consolidated statement of prot or loss and other comprehensive income
Depreciation and amortisation
- Amortisation of prepaid lease payments 11,567
Adjustment before tax 11,567
1.4.2011 31.3.2012
RM RM
Consolidated statement of nancial position
Prepaid lease payments (354,091) (342,524)
Revaluation reserve 1,051,557 985,941
Deferred tax liabilities [Sub-note (f)] 88,928 85,796
Adjustment to retained earnings [Sub-note (g)] 786,394 729,213
(c) Biological assets - Group
Under FRSs, the Group measured oil palm plantation development expenditure at amortised cost in
accordance with commonly used accounting practices. New planting expenditure including land clearing,
planting, upkeep of immature oil palms and borrowing costs net of sale proceeds from scout harvesting
incurred during the pre-maturity period (pre-cropping costs) were capitalised as oil palm plantation
development expenditure. Upon maturity all subsequent maintenance expenditure was charged to
prot or loss. The capitalised pre-cropping costs of matured plantations were amortised on a straight-
line basis over 25 years, the expected useful life of the oil palms, commencing from the year when the
plantations were declared mature.
Following the migration to MFRS after the disposal of its oil palm plantation segment, the Group has to
retrospectively apply MFRS 141, Agriculture as no specic exemption is provided in MFRS 1 for the rst-
time adopter of MFRS 141. MFRS 141 requires biological assets to be measured on initial recognition
and at subsequent measurement at fair value less estimated costs to sell, unless the fair value cannot
be reliably measured.
176
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.4 Notes to reconciliations (continued)
(c) Biological assets - Group (continued)
MFRS 141 has been applied to account for biological assets in the nancial statements of the Group
for the nancial year ended 31 March 2013, the comparative information presented on those nancial
statements for the nancial year ended 31 March 2012 and the preparation of the opening MFRS
statement of nancial position of the Group at 1 April 2011 (being the Groups transition date to MFRS
frameworks).
The impact arising from the change is summarised as follows:
31.3.2012
RM
Consolidated statement of prot or loss and other comprehensive income
Discontinued operation, net of tax
- Gain from changes in fair value of biological assets 36,270,839
- Amortisation of oil palm plantation development expenditure 115,539
Adjustment before tax 36,386,378
1.4.2011 31.3.2012
RM RM
Consolidated statement of nancial position
Biological assets 210,940,977 247,211,816
Accumulated amortisation of oil palm plantation development
expenditure - 115,539
Deferred tax liabilities [Sub-note (f)] (52,923,133) (61,961,733)
158,017,844 185,365,622
Share of non-controlling interests (77,114,297) (90,337,601)
Adjustment to retained earnings [Sub-note (g)] 80,903,547 95,028,021
(d) Merger decit (arising from business combinations involving common control transactions) -
Group
The Group had previously accounted for the acquisitions of certain entities under common controls as
if the acquisitions had occurred at the beginning of the earliest comparative period presented or, if later,
at the date that common control was established. The assets and liabilities acquired are recognised in
the consolidated nancial statements at their respective carrying amounts without restatement. The
difference between the cost of acquisition and the nominal value of the shares acquired together with
any share premium are taken to merger decit or adjusted against any suitable reserve (in the case
of debit differences). The other components of equity of the acquired entities are added to the same
components within group equity.
177
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.4 Notes to reconciliations (continued)
(d) Merger decit (arising from business combinations involving common control transactions) -
Group (continued)
Upon transition to MFRSs, merger decit was reclassied to retained earnings at the date of transition.
1.4.2011 31.3.2012
RM RM
Consolidated statement of nancial position
Merger decit (16,833,045) (16,833,045)
Adjustment to retained earnings [Sub-note (g)] (16,833,045) (16,833,045)
(e) Foreign currency translation differences - Group
Under FRSs, the Group recognised foreign currency translation differences in other comprehensive
income and accumulated the amount in the foreign currency translation reserve in equity.
Upon transition to MFRSs, the Group has elected to deem all foreign currency translation differences
that arose prior to the date of transition in respect of all foreign operations to be nil at the date of
transition.
1.4.2011 31.3.2012
RM RM
Consolidated statement of nancial position
Foreign currency translation reserve (395,432) (395,432)
Adjustment to retained earnings [Sub-note (g)] (395,432) (395,432)
(f) Income tax
The changes that affected the deferred tax liabilities are as follows:
1.4.2011 31.3.2012
RM RM
Continuing operations
Prepaid lease payments [Sub-note (b)] (88,928) (85,796)
Discontinued operation
Biological assets [Sub-note (c)] 52,923,133 61,961,733
Increase in deferred tax liabilities 52,834,205 61,875,937
178
WEIDA (M) BHD (504747-W)
a n n u a l r e p o r t 2 0 1 3
NOTES TO THE
FINANCIAL STATEMENTS
34. EXPLANATION OF TRANSITION TO MFRSS (continued)
34.4 Notes to reconciliations (continued)
(f) Income tax (continued)
The effect on the statement of prot or loss and other comprehensive income for the nancial year
ended 31 March 2012 was to increase the previously reported tax charge for the nancial year by
RM9,041,732.
(g) Retained earnings
The changes that affected the retained earnings are as follows:
Group Company
1.4.2011 31.3.2012 1.4.2011 31.3.2012
Sub-note RM RM RM RM
Property, plant and equipment (a) 9,638,693 9,247,038 207,335 -
Prepaid lease payments (b) 786,394 729,213 - -
Biological assets (c) 80,903,547 95,028,021 - -
Merger decit (d) (16,833,045) (16,833,045) - -
Foreign currency translation reserve (e) (395,432) (395,432) - -
Increase in retained earnings 74,100,157 87,775,795 207,335 -
35. CAPITAL MANAGEMENT
As in previous nancial year, the Groups objectives when managing capital is to maintain a strong capital base and
safeguard the Groups ability to continue as a going concern, so as to maintain the condence of investors, creditors
and other stakeholders in the Group and to sustain the future development of its business. The Directors determine,
monitor and maintain an optimal debt-to-equity ratio for the Group that complies with debt covenants and regulatory
requirements.
One of its capital management strategies is to maintain a maximum debt-to-equity ratio of 1.5 times and nance
service cover ratio of at least 1.5 times, to comply with the covenants of its unsecured term loans, failing which the
affected facilities and borrowings are subject to recall (see Note 20.3). The nance service cover ratio of the Group
for the current and previous years being not less than 1.5 times and the debt-to-equity ratio at the nancial year end
being 0.39 (31.3.2012: 0.67; 1.4.2011: 0.47), the said covenants have been fullled.
Under the requirement of Bursa Malaysia Practice Note No. 17/2005, the Company is required to maintain a
consolidated shareholders equity equal to or not less than 25 percent of the issued and paid-up capitals (excluding
treasury shares) and such shareholders equity is not less than RM40,000,000. The Company has complied with this
requirement.
179
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NOTES TO THE
FINANCIAL STATEMENTS
36. CONTINGENCIES - UNSECURED
The Directors are of the opinion that provisions are not required in respect of the following corporate guarantees, as
it is not probable that a future sacrice of economic benets will be required or the amount is not capable of reliable
measurement:
<------------------- Group ------------------> <----------------- Company --------------->
31.3.2013 31.3.2012 1.4.2011 31.3.2013 31.3.2012 1.4.2011
RM RM RM RM RM RM
Corporate guarantee utilised:
- for banking facilities of certain
subsidiaries (Note 32.3) - - - 89,930,000 177,535,000 105,752,000
Bank guarantee utilised:
- to third parties for performance
of projects and/or banking facilities
13,013,000 19,830,000 25,308,000 - - -
13,013,000 19,830,000 25,308,000 89,930,000 177,535,000 105,752,000
37. RELATED PARTIES
Identity of related parties
For the purposes of the nancial statements, parties are considered to be related to the Group or the Company if
the Group or the Company has the ability, directly or indirectly, to control or jointly control the parties or exercise
signicant in uence over the parties in making nancial and operating decisions, or vice versa, or where the Group
or the Company and the parties are subject to common control. Related party may be individuals or other entities.
Related parties also include key management personnel dened as those persons having authority and responsibility
for planning, directing and controlling the activities of the Group either directly or indirectly. Key management
personnel include all the Directors of the Group, and certain members of senior management of the Group.
The Group has related party relationships with its signicant investors, subsidiaries, associate and key management
personnel.
Signicant related party transactions, other than compensations paid to key management personnel (see Note 25)
and those disclosed elsewhere in the nancial statements, are as follows:
180
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NOTES TO THE
FINANCIAL STATEMENTS
37. RELATED PARTIES (continued)
Transactions with subsidiaries
Company
2013 2012
RM RM
Nature of transaction
Dividends received, net of tax (16,271,250) (6,954,250)
Management fees receivable (10,701,286) (12,733,200)
Rental income for furnished premises, inclusive of maintenance (1,814,191) (1,471,892)
Acquisition of property, plant and equipment - 60,000
Interest income (3,693,796) (3,675,026)
Interest expense 2,124,438 1,954,580
Transaction with a director and companies in which certain Directors of the Company have interests
Group Company
2013 2012 2013 2012
RM RM RM RM
Nature of transaction
Rental of premises 295,200 292,200 199,200 199,200
Transaction with the spouse of a Director who is a major shareholder of the Company
Group Company
2013 2012 2013 2012
RM RM RM RM
Nature of transaction
Acquisition of property, plant and equipment - 160,000 - 160,000
Transaction with a company in which a director of a subsidiary has interests
Group Company
2013 2012 2013 2012
RM RM RM RM
Nature of transaction
Consultancy fee paid 235,820 - - -
The balance between the subsidiary and the related party is as follows:
Group Company
2013 2012 2013 2012
RM RM RM RM
Amount due to 21,020 - - -
The amounts due from/(to) subsidiaries are disclosed in Notes 10 and and Note 21 to the nancial statements.
The above transactions are based on negotiated terms. All the amounts outstanding are unsecured and expected to
be settled in cash.
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NOTES TO THE
FINANCIAL STATEMENTS
38. SUPPLEMENTARY FINANCIAL INFORMATION ON THE BREAKDOWN OF REALISED AND UNREALISED
PROFITS OR LOSSES
The breakdown of the retained earnings of the Group and of the Company as at 31 March into realised and unrealised
prots or losses, pursuant to Paragraphs 2.06 and 2.23 of Bursa Malaysia Securities Berhad Main Market Listing
Requirement, is as follows:
Group Company
2013 2012 2013 2012
RM RM RM RM
Total retained earnings of the Company and its
subsidiaries
- Realised 304,369,987 398,963,506 142,141,926 14,357,664
- Unrealised 5,819,442 (53,819,051) - -
310,189,429 345,144,455 142,141,926 14,357,664
Share of accumulated losses from associate
- Realised (4,358) (40) - -
310,185,071 345,144,415 142,141,926 14,357,664
Less:
Consolidation adjustments (26,392,621) (108,367,179) - -
Total retained earnings as per statement of
changes in equity (see Note 19) 283,792,450 236,777,236 142,141,926 14,357,664
The determination of realised and unrealised prots or losses is based on Guidance on Special Matter No.1,
Determination of Realised and Unrealised Prots or Losses in the Context of Disclosures Pursuant to Bursa Malaysia
Securities Berhad Listing Requirements, issued by the Malaysian Institute of Accountants on 20 December 2010,
and presented based on the format prescribed by Bursa Malaysia Securities Berhad.
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LIST OF PROPERTIES
AS AT 31 MARCH 2013
Location Usage Tenure
Date of
Expiry
Land
Area
(acres)
Approximate
Age of
Building
(year)
Carrying
Amount
as at
31.03.2013
(RM)
Date of
Acquisition/
Last
Revaluation
Lot 472, Block 8,
Muara Tebas Land District,
Jalan Bako,
93050 Kuching, Sarawak
Ofce and
manufacturing
buildings and
storage yard
Leasehold 7/7/2058 17.39 15 24,386,212 06/11/2009
Lot 48, SEDCO-Lok Kawi
Industrial Estate, Papar,
88801 Kota Kinabalu,
Sabah
Storage yard Leasehold 31/12/2042 0.82 N/A 488,280 03/11/2009
Lot 56, SEDCO-Lok Kawi
Industrial Estate, Papar,
88801 Kota Kinabalu,
Sabah
Storage yard Leasehold 31/12/2042 0.93 N/A 517,914 03/11/2009
Lot 57, SEDCO-Lok Kawi
Industrial Estate, Papar,
88801 Kota Kinabalu,
Sabah
Ofce and
manufacturing
building
Leasehold 31/12/2042 2.15 17 4,225,397 03//11/2009
Lot 58, SEDCO-Lok Kawi
Industrial Estate, Papar,
88801 Kota Kinabalu,
Sabah
Manufacturing
building and
storage yard
Leasehold 31/12/2042 1.03 11 2,072,308 03/11/2009
Lot 59, SEDCO-Lok Kawi
Industrial Estate, Papar,
88801 Kota Kinabalu,
Sabah
Manufacturing
building and
storage yard
Leasehold 31/12/2042 1.03 3 821,877 03/11/2009
Lot 8, Kota Kinabalu
Industrial Park,
88460 Kota Kinabalu,
Sabah
Manufacturing
building and
storage yard
Leasehold 31/12/2098 2.11 3 5,064,573 03/11/2009
Lot 1969, Block 5,
Kuala Baram Land District,
Taman Senadin, Miri,
Sarawak
Ofce and
manufacturing
building and
storage yard
Leasehold 14/8/2056 0.64 8 2,076,525 05/11/2009
Lot 1970, Block 5,
Kuala Baram Land District,
Taman Senadin, Miri,
Sarawak
Storage yard Leasehold 14/8/2056 0.64 N/A 430,499 05/11/2009
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LIST OF PROPERTIES
Location Usage Tenure
Date of
Expiry
Land
Area
(acres)
Approximate
Age of
Building
(year)
Carrying
Amount
as at
31.03.2013
(RM)
Date of
Acquisition/
Last
Revaluation
Lot 108, Jalan Permata 1,
Arab-Malaysian Industrial
Park, 71800 Nilai,
Seremban, Negeri Sembilan
Darul Khusus
Storage yard Freehold N/A 3.68 N/A 3,285,375 06/11/2009
Lot 109, Jalan Permata 1,
Arab-Malaysian Industrial
Park, 71800 Nilai,
Seremban, Negeri Sembilan
Darul Khusus
Ofce and
manufacturing
building and
storage yard
Freehold N/A 3.04 16 7,093,444 06/11/2009
Lot 8039, Jalan Permata 1,
Arab-Malaysian Industrial
Park, 71800 Nilai,
Seremban, Negeri Sembilan
Darul Khusus
Storage yard Freehold N/A 1.00 N/A 1,159,191 1/7/2010
AS AT 31 MARCH 2013
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ANALYSIS OF SHAREHOLDINGS
AS AT 25 JULY 2013
Authorised Share Capital : RM100,000,000.00
Issued and Paid-up Share Capital : RM66,666,666.00
Class of Shares : Ordinary Shares of RM0.50 each
Voting Rights : One vote per ordinary share
DISTRIBUTION SCHEDULE OF ORDINARY SHARES
Holdings No. of Holders Total Holdings %*
Less than 100 shares 119 4,340 0.00
#
100 to 1,000 shares 389 199,870 0.16
1,001 to 10,000 shares 1,188 6,648,016 5.24
10,001 to 100,000 shares 584 19,157,676 15.10
100,001 to less than 5% of issued shares 97 56,428,482 48.47
5% and above of issued shares 3 44,456,548 35.03
TOTAL 2,380 126,894,932 100.00
#
Less than 0.01%
* Excluding 6,438,400 ordinary shares of RM0.50 each bought back and retained as treasury shares as at 25 July 2013.
LIST OF THIRTY LARGEST SECURITIES ACCOUNTS HOLDERS
No. Name No. of Shares Held %*
1. Weida Management Sdn. Bhd. 26,048,974 20.53
2. HLIB Nominees (Tempatan) Sdn. Bhd.
- Assar Asset Management Sdn. Bhd. for Assar Industri Sdn. Bhd. 11,333,332 8.93
3. YBhg. Dato Lee Choon Chin 7,074,242 5.57
4. Lembaga Tabung Haji 6,296,666 4.96
5. Sim Hong Swee 4,103,600 3.23
6. Lim Wei Wui 3,299,500 2.60
7. Citigroup Nominees (Asing) Sdn. Bhd.
- Exempt An for Citibank NA, Singapore (Julius Baer) 3,181,600 2.51
8. Maybank Nominees (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Siaw Teck Siong 2,720,000 2.14
9. Goo Moi 2,188,000 1.72
10. AMSEC Nominees (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Bong Lee Min 1,917,700 1.51
11. Jee Hon Chong 1,749,550 1.38
12. Teh Guat Hong 1,637,000 1.29
13. Yip Yuen Kuan 1,573,600 1.24
14. Loo Geok Lee 1,332,700 1.05
15. Lim Heng Loong 1,274,000 1.00
16. Tiara Wealth Sdn. Bhd. 1,221,000 0.96
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No. Name No. of Shares Held %*
17. Ng Sea Yong 1,084,000 0.85
18. Liew Yoon Yee 1,056,800 0.83
19. Public Nominees (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Siaw Teck Siong (E-PDG)
1,035,600 0.82
20. Liew Yoon Yee 913,000 0.72
21. Singam A/L Kumarasamy 911,000 0.72
22. Kenanga Nominees (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Too Boon Siong 841,200 0.66
23. Teoh Kian Fuh 795,000 0.63
24. CIMSEC Nominees (Tempatan) Sdn. Bhd.
- CIMB Bank for Yeong Sing Ong (MY0427) 782,800 0.62
25. Public Nominees (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Lim Boon Tiang (BMM/UOB) 702,300 0.55
26. Lim Jit Haw 544,000 0.43
27. Loo Geok Lee 508,300 0.40
28. Seah Mok Khoon 500,000 0.39
29. HSBC Nominees (Tempatan) Sdn. Bhd.
- HSBC (M) Trustee Bhd for OSK-UOB Growth and Income Focus Trust (4892) 472,200 0.37
30. Maybank Nominee (Tempatan) Sdn. Bhd.
- Pledged Securities Account for Tan Boon Huat
463,000 0.36
* Excluding 6,438,400 ordinary shares of RM0.50 each bought back and retained as treasury shares as at 25 July 2013.
LIST OF SUBSTANTIAL SHAREHOLDERS
No. of Shares Held
No. Name Direct %
(a)
Indirect %
(a)
1. YBhg. Dato Lee Choon Chin 7,074,242 5.57 26,048,974
(b)
20.53
2. YBhg. Datin Liew Kee Moi - - 26,048,974
(c)
20.53
3. Weida Management Sdn. Bhd. 26,048,974 20.53 - -
4. Assar Industri Sdn. Bhd. 11,400,656
(d)
8.98 - -
Notes:
(a) Excluding 6,438,400 ordinary shares of RM0.50 each bought back and retained as treasury shares as at 25 July 2013.
(b) Deemed interested by virtue of his substantial shareholding in Weida Management Sdn. Bhd.
(c) Deemed interested by virtue of her spouses, YBhg. Dato Lee Choon Chin and her substantial shareholdings in
Weida Management Sdn. Bhd.
(d) 11,333,332 shares are held through Assar Asset Management Sdn. Bhd.
LIST OF THIRTY LARGEST SECURITIES ACCOUNTS HOLDERS (continued)
ANALYSIS OF SHAREHOLDINGS
AS AT 25 JULY 2013
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ANALYSIS OF SHAREHOLDINGS
DIRECTORS INTERESTS
No. of Shares Held
No. Name Direct %
(a)
Indirect %
(a)
1. YBhg. Dato Lee Choon Chin 7,074,242 5.57 26,048,974
(b)
20.53
2. YBhg. Datuk Dr Stalin Hardin 33,334 0.03 - -
3. Jee Hon Chong 1,764,776 1.39 - -
4. Chew Chin Choong - - - -
5. Yeoh Chin Hoe - - - -
The Directors by virtue of their interests in shares in the Company are also deemed to have interests in shares in all of its
related corporations to the extent the Company has an interest, pursuant to Section 6A of the Companies Act, 1965.
Notes:
(a) Excluding 6,438,400 ordinary shares of RM0.50 each bought back and retained as treasury shares as at 25 July 2013.
(b) Deemed interested by virtue of his substantial shareholding in Weida Management Sdn. Bhd.
AS AT 25 JULY 2013
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NOTICE OF FOURTEENTH
ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN that the Fourteenth Annual General Meeting of Weida (M) Bhd. (WEIDA or the Company)
will be held at Four Points by Sheraton Hotel, 3186-3187, Block 16, KCLD, Jalan Lapangan Terbang Baru, 93350 Kuching,
Sarawak on Thursday, 26 September 2013 at 2.30 pm to transact the following businesses:
AGENDA
Ordinary Business
1. To receive the audited nancial statements for the nancial year ended 31 March 2013 together
with the Reports of the Directors and Auditors thereon.
2. To declare and approve payment of a rst and nal dividend of 4.0 sen per ordinary share less tax
and a special dividend of 1.5 sen per ordinary share less tax, in respect of the nancial year ended
31 March 2013 as recommended by the Directors.
Resolution 1
3. To approve the payment of directors fees amounting to RM450,000.00 for the nancial year ending
31 March 2014 (2013: RM450,000.00).
Resolution 2
4. To re-elect the following Directors who retire in accordance with Article 81 of the Companys
Articles of Association and being eligible, offer themselves for re-election:
(i) YBhg. Dato Lee Choon Chin Resolution 3
(ii) Mr. Yeoh Chin Hoe Resolution 4
5. To consider and if thought t, to pass the following resolution:
THAT pursuant to Section 129(6) of the Companies Act, 1965, YBhg. Datuk Dr Stalin Hardin be
hereby re-appointed as a director of the Company to hold ofce until the conclusion of the next
annual general meeting.
Resolution 5
6. To re-appoint Messrs. KPMG as the Companys auditors and to authorise the Directors to x their
remuneration for the ensuing year.
Resolution 6
Special Business
7. To consider and, if thought t, pass the following ordinary resolution:
Continuation in ofce as Independent Non-Executive Director pursuant to Recommendation
3.3 of the Malaysian Code on Corporate Governance 2012
Resolution 7
THAT, subject to passing of Resolution 5, approval be and is hereby given to YBhg. Datuk Dr Stalin
Hardin who has served as an Independent Non-Executive Director of the Company for a consecutive
term of more than nine (9) years, to continue in ofce as an Independent Non-Executive Director
of the Company.
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NOTICE OF FOURTEENTH
ANNUAL GENERAL MEETING
8. To consider and, if thought t, pass the following ordinary resolution:
Proposed renewal of authority for purchase of own shares by the Company Resolution 8
THAT, subject always to the Companies Act, 1965 (the Act), rules, regulations and orders made
pursuant to the Act, provisions of the Companys Memorandum and Articles of Association and the
Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Bursa Securities) and
any other relevant authority, the Company be hereby unconditionally and generally authorised to
purchase and hold on the market of Bursa Securities such number of ordinary shares of RM0.50 each
(Shares) in the Company (Proposed Share Buy-Back) as may be determined by the Directors
from time to time through Bursa Securities upon such terms and conditions as the Directors may
deem t, necessary and expedient in the interest of the Company provided that the total aggregate
number of Shares purchased and/or held or to be purchased and/or held pursuant to this resolution
shall not exceed ten percent (10%) of the total issued and paid-up share capital of the Company
for the time being and an amount not exceeding the Companys retained earnings reserve at the
time of purchase be allocated by the Company for the Proposed Share Buy-Back AND THAT, such
Shares purchased are to be retained as treasury shares and distributed as dividends and/or resold
on the market of Bursa Securities, or subsequently may be cancelled AND THAT the Directors be
hereby authorised and empowered to do all acts and things and to take all such steps and to enter
into and execute all commitments, transactions, deeds, agreements, arrangements, undertakings,
indemnities, transfers, assignments and/or guarantees as they may deem t, necessary, expedient
and/or appropriate in order to implement, nalise and give full effect to the Proposed Share Buy-
Back with full powers to assent to any conditions, modications, revaluations, variations and/
or amendments, as may be required or imposed by any relevant authority or authorities AND
FURTHER THAT the authority hereby given will commence immediately upon passing of this
ordinary resolution and will continue to be in force until:
(a) the conclusion of the next annual general meeting of the Company (AGM), at which time
it will lapse, unless by ordinary resolution passed at that meeting, the authority is renewed,
either unconditionally or subject to conditions;
(b) the expiration of the period within which the next AGM after that date is required by law to be
held; or
(c) revoked or varied by ordinary resolution passed by the shareholders in general meeting,
whichever occurs rst, in accordance with the provisions of the guidelines issued by Bursa
Securities or any other relevant authorities.
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9. To consider and, if thought t, pass the following special resolution:
Proposed amendment to the Companys Articles of Association Resolution 9
THAT the existing Article 145(a) of the Companys Article of Association be deleted in its entirety
and replaced with the following new Article 145(a):
Cash distributions payable by cheque or warrant or through Bank
Any cash distributions (as prescribed by the Exchange from time to time) or other money payable
in cash in respect of securities may be paid by cheque or warrant, sent through the post directed
to the registered address of the Members or persons entitled thereto, or if several persons are
entitled in consequence of the death or bankruptcy of the holder, to any one (1) of such persons
and to such address as such person may in writing direct or through directly crediting of funds
into a nominated bank account as provided to the Depository from time to time of such Members
or persons entitled thereto or through such other mode of electronic means. Every such cheque
or warrant or funds crediting into bank account of the Members or persons entitled thereto or
through such other mode of electronic mean shall be made payable to the order of the Members or
persons entitled thereto and such payment shall be a good and full discharge to the Company for all
payments made in respect of such securities, notwithstanding that it may subsequently appear that
the cheque or warrant has been stolen or that the endorsement thereon has been forged or that
there is discrepancy in the details of the bank account(s) given by the Members or persons entitled
to the payment. Every such cheque and warrant or funds crediting shall be sent or credited at the
risk of the Members or person entitled to the money thereby represented. Where the Members or
persons entitled thereto have provided to the Depository the relevant contact details for purposes
of electronic notications, the Company shall notify them electronically once the Company has paid
the cash distributions out of its account.
10. To transact any other business which may properly be transacted at an annual general meeting, due
notice of which shall have previously given in accordance with the Companies Act, 1965 and the
Companys Articles of Association.
NOTICE OF FOURTEENTH
ANNUAL GENERAL MEETING
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NOTICE OF DIVIDEND
ENTITLEMENT AND PAYMENT
NOTICE IS ALSO HEREBY GIVEN that the rst and nal dividend of 4.0 sen per ordinary share less tax and a special
dividend of 1.5 sen per ordinary share less tax, in respect of the nancial year ended 31 March 2013, if approved at the
Fourteenth Annual General Meeting, will be payable on 22 November 2013 to depositors whose names appear in the
Record of Depositors on 6 November 2013.
A depositor shall qualify for entitlement only in respect of:
(a) shares transferred into the depositors securities account before 4:00 pm on 6 November 2013 in respect of transfer; and
(b) shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa
Malaysia Securities Berhad.
By order of the Board of Directors
Voon Jan Moi (MAICSA 7021367)
Wang Tin Ngee (MIA 11670)
Joint Company Secretaries
Dated: 4 September 2013
Kuching, Sarawak
Explanatory notes on special business
(a) Ordinary resolution in relation to continuation in ofce as Independent Non-Executive Director pursuant to
Recommendation 3.3 of the Malaysian Code on Corporate Governance 2012
The Nominating Committee and the Board of Directors had assessed the independence of YBhg. Datuk Dr Stalin Hardin
who has served as an Independent Non-Executive Director of the Company for a consecutive term of more than nine (9)
years, and recommended him to continue to act as an Independent Non-Executive Director of the Company based on the
following justications:
YBhg. Datuk Dr Stalin Hardin continue to provide independent judgement in carrying out his duties as an Independent
Non-Executive Director and he provides guidance, unbiased, fully balance and independent views, advice and judgement
to many aspects of the Company and the Groups strategy so as to safeguard the interests of minority shareholders and
to ensure that the highest standard of conduct and integrity were maintained by the Company and the Group.
(b) Ordinary resolution in relation to proposed renewal of authority for purchase of own shares by the Company
The proposed Resolution No. 8, if passed, will renew the authority for the Company to purchase and/or hold up to ten per
cent (10%) of the issued and paid-up ordinary share capital of the Company through Bursa Securities. This authority will
expire at the conclusion of the next annual general meeting, unless revoked or varied by ordinary resolution passed by
shareholders at general meeting.
Please refer to the Statement to Shareholders dated 4 September 2013 for further information.
(c) Special resolution in relation to proposed amendments to the Companys Articles of Association
The proposed Resolution No. 9 is to amend the Companys Articles of Association in line with the amendments made to
the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Notes:
1. A proxy may but need not be a member of the Company and the provisions of Section 149(1)(b) of the Companies Act, 1965 shall
not apply to the Company.
2. To be valid, the duly completed proxy form must be deposited at the registered ofce of the Company at Wisma Hock Peng, Ground
Floor to 2nd Floor, 123, Green Heights, Jalan Lapangan Terbang, 93250 Kuching, Sarawak not less than 48 hours before the time set
for holding the meeting or any adjournment thereof.
3. A member shall be entitled to appoint more than one (1) proxy to attend and vote at the same meeting provided that the provisions
of Section 149(1)(c) of the Companies Act, 1965 are complied with.
4. Where a member appoints more than one (1) proxy, the appointment shall be invalid unless he species the proportions of his
shareholdings to be represented by each proxy.
5. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the Company for multiple
benecial owners in one (1) securities account (omnibus account), there is no limit to the number of proxies which the exempt
authorised nominee may appoint in respect of each omnibus account it holds. An exempt authorised nominee refers to an authorised
nominee dened under the Securities Industry (Central Depositories) act 1991 (SICDA) which is exempted from compliance with
the provisions of subsection 25A(1) of SICDA.
6. If the appointor is a corporation, the proxy form must be executed under its common seal or under the hand of an ofcer or attorney
duly authorised.
7. A depositor whose name appears in the Record of Depositors as at 20 September 2013 shall be regarded as a member of the
Company entitled to attend this Annual General Meeting or appoint a proxy to attend and vote on his behalf.
I/We (Name in full)
(IC/Passport/Company No.) of
(Address)
being a member/members of the abovenamed Company hereby appoint
(Name in full)
(IC/Passport No.) of
(Address)
or failing him/her, the Chairman of the meeting as my/our proxy to vote for me/us and on my/our
behalf at the Fourteenth Annual General Meeting of the Company to be held at Four Points by Sheraton Hotel,
3186-3187, Block 16, KCLD, Jalan Lapangan Terbang Baru, 93350 Kuching, Sarawak on Thursday,
26 September 2013 at 2.30 p.m. and any adjournment thereof.
Please indicate with an X in the appropriate box against each resolution how you wish your vote to be cast. If you do
not indicate how you wish your proxy to vote on any resolution, the proxy shall vote as he thinks t, or at his discretion,
abstain from voting.
My/our proxy is to vote as indicated below:
No. Resolutions For Against
1. To declare and approve the payment of a rst and nal dividend and a special dividend in
respect of the nancial year ended 31 March 2013.
2. To approve the payment of directors fees for the nancial year ending 31 March 2014.
3. To re-elect YBhg. Dato Lee Choon Chin as director.
4. To re-elect Mr. Yeoh Chin Hoe as director.
5. To re-appoint YBhg. Datuk Dr Stalin Hardin as director.
6. To re-appoint Messrs. KPMG as auditors.
7. Continuation in ofce as Independent Non-Executive Director.
8. Renewal of authority for purchase of own shares by the Company.
9. Proposed amendments to the Companys Articles of Association
Shareholding Represented by Proxy 1
Shareholding Represented by Proxy 2
Dated this day of 2013
Signature of shareholder(s)/common seal
Notes:
1. A proxy may but need not be a member of the Company and the provisions of Section 149(1)(b) of the Companies Act, 1965 shall
not apply to the Company.
2. To be valid, the duly completed proxy form must be deposited at the registered ofce of the Company at Wisma Hock Peng, Ground
Floor to 2nd Floor, 123, Green Heights, Jalan Lapangan Terbang, 93250 Kuching, Sarawak not less than 48 hours before the time set
for holding the meeting or any adjournment thereof.
3. A member shall be entitled to appoint more than one (1) proxy to attend and vote at the same meeting provided that the provisions
of Section 149(1)(c) of the Companies Act, 1965 are complied with.
4. Where a member appoints more than one (1) proxy, the appointment shall be invalid unless he species the proportions of his
shareholdings to be represented by each proxy.
5. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the Company for multiple
benecial owners in one (1) securities account (omnibus account), there is no limit to the number of proxies which the exempt
authorised nominee may appoint in respect of each omnibus account it holds. An exempt authorised nominee refers to an authorised
nominee dened under the Securities Industry (Central Depositories) Act 1991 (SICDA) which is exempted from compliance with
the provisions of subsection 25A(1) of SICDA.
6. If the appointor is a corporation, the proxy form must be executed under its common seal or under the hand of an ofcer or attorney
duly authorised.
7. A depositor whose name appears in the Record of Depositors as at 20 September 2013 shall be regarded as a member of the
Company entitled to attend this Annual General Meeting or appoint a proxy to attend and vote on his behalf.
WEIDA (M) BHD
(Company No. 504747-W)
(Incorporated in Malaysia) FORM OF PROXY
The Company Secretary
WEIDA (M) BHD
(Company No. 504747-W)
Wisma Hock Peng
Ground Floor to 2nd Floor
123, Green Heights, Jalan Lapangan Terbang
P.O. Box 2424, 93748 Kuching, Sarawak
fold here
fold here
AFFIX
STAMP
PENINSULAR MALAYSIA
Ofce:
Lot 3.05, Level 3,
1 First Avenue, Bandar Utama,
47800 Petaling Jaya,
Selangor Darul Ehsan.
Tel : +603 7950 9688
Fax : +603 7950 9788
Email : weidakl@weida.com.my
Manufacturing plant:
Lot 109, Jalan Permata,
Arab-Malaysian Industrial Park,
71800 Nilai,
Negeri Sembilan Darul Khusus.
Tel : +606 799 0990
Fax : +606 799 0949
Email : wiin@weida.com.my
SABAH
Ofce:
2-9-1 & 2-9-2, 8
th
Floor,
Wawasan Plaza,
88000 Kota Kinabalu, Sabah.
P. O. Box 21276, 88770 Luyang,
Kota Kinabalu, Sabah.
Tel : +6088 264 555
Fax : +6088 262 525
Email : weidakk@weida.com.my
Manufacturing plant:
Lot 57, SEDCO Light Industrial Estate,
Lok Kawi, 88801 Kota Kinabalu, Sabah.
Tel : +6088 752 996
Fax : +6088 752 998
Email : wiikk@weida.com.my
TB12882 & 12883,
SEDCO Light Industrial Estate,
Mile 3, Jalan Apas, 91000 Tawau,
Sabah.
Tel : +6089 913 678
Fax : +6089 913 679
Email : wiitawau@weida.com.my
MALAYSIA
www.weida.com.my
SARAWAK
Headquarters:
Wisma Hock Peng,
Ground Floor to 2
nd
Floor,
123, Green Heights,
Jalan Lapangan Terbang,
P. O. Box 2424, 93748 Kuching,
Sarawak.
Tel : +6082 456 456
Fax : +6082 459 000
Email : weida@weida.com.my
Manufacturing plant:
Lot 472, Block 8, MTLD,
Sejingkat Industrial Park,
Jalan Bako, Petra Jaya,
P. O. Box 1807,
93736 Kuching, Sarawak.
Tel : +6082 435 435
Fax : +6082 433 933
Email : wiikch@weida.com.my
Jalan Maigold,
Taman Desa Senadin Phase 1,
98100 Miri, Sarawak.
Tel : +6016 879 3322
REPUBLIC OF THE PHILIPPINES
www.weida.com.ph
MANILA
Ofce:
3/F, BT & T Center,
20E. Rodriguez Jr. Avenue (C-5)
Brgy. Bagumbayan, Libis,
Quezon City 1110, Philippines.
Tel : +632 706 2002
Fax : +632 706 4966
Email : weida.ph@weida.com.my
Manufacturing plant:
Lot 11 & 13, Block 3,
Dasmarinas Technopark,
Governors Drive,
Dasmarinas Cavite 4114, Philippines.
Tel : +632 529 6193, 529 6195
Fax : +0346 852 2846, +632 529 6194
THE SYRIAN ARAB REPUBLIC
DAMASCUS
Ofce:
Mazzeh, Eastern Villas,
Al Farabi Street,
Building 55 (Ground Floor),
Damascus Countryside Governorate,
Syrian Arab Republic.
P. O. Box 3407 D
Tel : +963 11 611 7449
Fax : +963 11 613 1562
PENINSULAR MALAYSIA
Ofce:
Lot 3.05, Level 3,
1 First Avenue, Bandar Utama,
47800 Petaling Jaya,
Selangor Darul Ehsan.
Tel : +603 7950 9688
Fax : +603 7950 9788
Email : weidakl@weida.com.my
Manufacturing plant:
Lot 109, Jalan Permata,
Arab-Malaysian Industrial Park,
71800 Nilai,
Negeri Sembilan Darul Khusus.
Tel : +606 799 0990
Fax : +606 799 0949
Email : wiin@weida.com.my
SABAH
Ofce:
2-9-1 & 2-9-2, 8
th
Floor,
Wawasan Plaza,
88000 Kota Kinabalu, Sabah.
P. O. Box 21276, 88770 Luyang,
Kota Kinabalu, Sabah.
Tel : +6088 264 555
Fax : +6088 262 525
Email : weidakk@weida.com.my
Manufacturing plant:
Lot 57, SEDCO Light Industrial Estate,
Lok Kawi, 88801 Kota Kinabalu, Sabah.
Tel : +6088 752 996
Fax : +6088 752 998
Email : wiikk@weida.com.my
TB12882 & 12883,
SEDCO Light Industrial Estate,
Mile 3, Jalan Apas, 91000 Tawau,
Sabah.
Tel : +6089 913 678
Fax : +6089 913 679
Email : wiitawau@weida.com.my
MALAYSIA
www.weida.com.my
SARAWAK
Headquarters:
Wisma Hock Peng,
Ground Floor to 2
nd
Floor,
123, Green Heights,
Jalan Lapangan Terbang,
P. O. Box 2424, 93748 Kuching,
Sarawak.
Tel : +6082 456 456
Fax : +6082 459 000
Email : weida@weida.com.my
Manufacturing plant:
Lot 472, Block 8, MTLD,
Sejingkat Industrial Park,
Jalan Bako, Petra Jaya,
P. O. Box 1807,
93736 Kuching, Sarawak.
Tel : +6082 435 435
Fax : +6082 433 933
Email : wiikch@weida.com.my
Jalan Maigold,
Taman Desa Senadin Phase 1,
98100 Miri, Sarawak.
Tel : +6016 879 3322
REPUBLIC OF THE PHILIPPINES
www.weida.com.ph
MANILA
Ofce:
3/F, BT & T Center,
20E. Rodriguez Jr. Avenue (C-5)
Brgy. Bagumbayan, Libis,
Quezon City 1110, Philippines.
Tel : +632 706 2002
Fax : +632 706 4966
Email : weida.ph@weida.com.my
Manufacturing plant:
Lot 11 & 13, Block 3,
Dasmarinas Technopark,
Governors Drive,
Dasmarinas Cavite 4114, Philippines.
Tel : +632 529 6193, 529 6195
Fax : +0346 852 2846, +632 529 6194
THE SYRIAN ARAB REPUBLIC
DAMASCUS
Ofce:
Mazzeh, Eastern Villas,
Al Farabi Street,
Building 55 (Ground Floor),
Damascus Countryside Governorate,
Syrian Arab Republic.
P. O. Box 3407 D
Tel : +963 11 611 7449
Fax : +963 11 613 1562
A Balanced
Sustainable
Growth
Annual Report
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