Our Vision - INSAGE -AR31-12-2000.pdf · Our Vision KUB aspires to be a ... • Koperasi bought a 60 per cent stake in Tele Dynamics Sdn Bhd and 55 per cent stake in ... Sarawak such

KUB Malaysia Berhad

Our VisionKUB aspires to be a leading knowledge corporationcatering for the Information Age

Our MissionTo provide world classproducts and servicesusing information andcommunicationstechnology pervasively

10-Year Milestone

KUB Malaysia Berhad (KUB) is a leading home-grownconglomerate with ventures and investments in severalkey growth sectors.

From a diversified business, KUB now focuses on foursynergistic core areas: Information and CommunicationsTechnology (ICT), Properties and Construction, ConsumerProducts and Plantation.

In line with the aspiration to be a leading knowledgecorporation catering for the Information Age, KUBplaces much emphasis on ICT business. KUB stakesits claims with the establishment of Universiti Tun AbdulRazak (UNITAR) and the moving of fifteen KUB Group’scorporate headquarters into KUB.com. UNITAR is the first Asian virtual university delivering tertiaryeducation online and KUB.com is a business hub that intensively deploy ICT to empower its peopleand business partners all over the world.

1991• Datuk Hassan Harun was appointed Chairman

of Koperasi Usaha Bersatu Malaysia Berhad(Koperasi).

• Koperasi bought a 60 per cent stake in TeleDynamics Sdn Bhd and 55 per cent stake inBina Alam Bersatu Sdn Bhd to strengthen itsviable businesses. These companies continueto contribute significantly to the earnings ofKUB Malaysia Berhad (KUB).

1992• KUB Holdings Bhd, a wholly owned subsidiary

of Koperasi, signed an agreement with FujitsuLimited, Japan (25 per cent) and MarubeniCorporation, Japan (5 per cent) to formKUB-Fujitsu Telecommunications (Malaysia)Sdn Bhd.

1993• Koperasi engineered the rescue of Damansara

Realty Berhad (DRB), whereby members ofKoperasi were offered DRB shares at par.

• Koperasi recorded a net profit of RM36.9million on a turnover of RM188.5 million.

1994• Koperasi recorded a profit of RM74.2 million

on a turnover of RM300.7 million. Shareholdersfunds stood at RM174 million.

1996• Koperasi bought a 30 per cent stake in Sime

Bank Berhad.

• Koperasi engineered the reverse takeover ofPermodalan Perak Berhad (PPB), a companylisted on the Bumiputera Stock Exchange.

• Change of name to KUB Malaysia Berhad on19 October.

• Securities Commission approved KUB’s listingscheme.

1997• Koperasi members agreed to dissolve the

cooperative to pave way for its listing.

• Launch of KUB’s new name and logo.

• RM504.63 million KUB shares were quoted onthe Main Board of the Kuala Lumpur StockExchange (KLSE), creating history as the firstMalaysian cooperative to be transformed intoa listed company.

1998• KUB entered into a Sale and Purchase

Agreement to dispose its 30 per cent stake inSime Bank Berhad to RHB Berhad, for aconsideration sum of RM670 million.

• The successful launch of Universiti Tun AbdulRazak (UNITAR), marking KUB’s major thrustinto the knowledge-economy empowered withICT.

• KUB Telekomunikasi Sdn Bhd (KUBTelekomunikasi) successful ly instal led andtested Wireless in Local Loop (WiLL).

• KUB Sistem Sdn Bhd (KUB Sistem) accordedthe MSC status.

1999• Oracle, a database software giant, entered

into a strategic alliance with UNITAR, andcommitted RM30 million worth of computerhardware, educational products and trainingservices to strengthen UNITAR’s IT capabilities.

• KUB acquired 32 per cent stake in ComputerForms (Malaysia) Berhad, a company listed onthe Second Board of the KLSE.

• KUB disposed 30 per cent stake in Sime BankBerhad for RM461.5 million cash and 99.3million units of RHB Capital Berhad shares.

• KUB sold RHB Capital Berhad shares resultingin a gain of RM153.8 million.

• KUB Telekomunikasi’s WiLL system was thesystem of choice for the new TelekomMalaysia WiLL service launched in Jel i,Kelantan.

• Formula Malaysia, a Malaysian nationhoodconsciousness campaign initiated by KUB,was launched by YAB Dato’ Seri Dr MahathirMohamad. Besides KUB, the campaign’s mainsponsors were Tenaga Nasional Berhad,Edaran Otomobil Nasional Berhad, MalaysianResources Corporation Berhad, YTLCorporation Berhad, Southern Bank Berhad,Sapura Holdings Sdn Bhd and Sunway GroupBerhad.

• KUB posted a net profit of RM123.9 millionand recorded a turnover of RM327.2 million.

2000• KUB Telekomunikasi entered into an

agreement with Barwaqo TelecommunicationsServices Co. to form Somatel (Malaysia) SdnBhd, to venture into telecommunicationservices business in Somalia.

• KUB Telekomunikasi received a letter of intentfrom Telekom Malaysia Berhad for a two-yearWiLL project estimated at RM320 million.

• KUB Teknologi Sdn Bhd entered into anagreement with Octobot-APT (Malaysia) SdnBhd to form VisionScape Sdn Bhd(VisionScape), whose core business is innetworked electronic displays i.e. i-Board, thefirst of its kind in Malaysia. VisionScape waslater accorded the MSC status.

• United Multimedia Sdn Bhd, a wholly ownedsubsidiary of UNITAR, successfully completedthe production of the Malaysian UniversityEngl ish Test (MUET) CDs for marketcirculation.

• YAB Dato’ Seri Dr Mahathir Mohamad officiallyopened KUB.com, KUB’s new headquarters.

• KUB Telekomunikasi successful ly instal ledTeletronics wireless broadband connectionbetween KUB.com and other sites, using atechnology capable of delivering more than2Mbps over 50 km.

• KUB Sistem received endorsement toestabl ish the ASEAN e-Tourism Portal(www.easeantravel.com), a comprehensiveinformation hub to promote tourism in theASEAN region that also provide an integratedplatform for e-Business.

• KUB Tekstil Sdn Bhd’s Canggih established asa brand of choice for school uniforms withdistr ibution at 240 outlets, includingprominent departmental stores andhypermarkets such as Sogo DepartmentalStore, Jusco, Globe Silk Store, Carrefour,Giant Hypermarket and Fajar Group, OceanGroup and The Store Group in peninsularMalaysia, andmajor retail chainsin Sabah andSarawak such asNgiu KeeDepartmental Storeand Mil imewaSuperstore.

• ITTAR Sdn Bhd( Inst i tut TeknologiTun Abdul Razak),a whol ly ownedsubsidiary of KUB,gained prestigiousrecognit ion fromthe NationalA c c r e d i t a t i o nBoard (LAN) fortheir in-housed e v e l o p e dprogrammes.

• The Ministry of Education Malaysia grantedUNITAR the right to offer LAN courses to otherprivate educational institutions through theUniversity On Air programme.

• UNITAR successfully penetrated the overseasmarket, with the enrolment of the first batch ofstudents from Jiangsu Changzou HealthSchool, China, for a special programme forthe Certificate of Completion in English and IT.

• KUB Gas Sdn Bhd commenced operationswith market entry in Kedah, Pulau Pinang, andNorthern Perak, marking KUB’s debut inliquefied petroleum gas (LPG) bottling andtrading.

6 Notice of Annual General Meeting

8 Corporate Information

9 Board of Directors

10 Profile of Board of Directors

14 Board Audit Committee

16 Executive Committee

18 Corporate Structure

Contents

20 Chairman’s Statement

2628 Subsidiary Company

60 Corporate Diary Year 2000

62 Employees and Community Diary Year 2000

64 Analysis of Shareholding

65 Financial Report

109 Properties Held

Proxy Form

Corporate Headquarters’ Senior Management

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Notice of Annual General Meeting

Notice is hereby given that the 36th Annual GeneralMeeting of KUB Malaysia Berhad will be held at theGrand Seasons Ballroom, Level 2, Grand SeasonsHotel, 72 Jalan Pahang, 53000 Kuala Lumpur onFriday, 15 June 2001 at 10.00 am to conduct thefollowing business:-

AGENDA

ORDINARY BUSINESS

1. To receive and adopt the Audited Accounts of the Company and the Group for the year ended31 December 2000 and the Reports of the Directors and Auditors thereon. (Resolution 1)

2. To re-elect the following Directors retiring pursuant to Article 102 of the Company’s Articles ofAssociation and being eligible offer themselves for re-election:

(i) Datuk Hassan Harun (Resolution 2)(ii) Dato’ Syed Amin Aljeffri (Resolution 3)(ii i) Dato’ Ir. Haji Harun Ahmad Saruji (Resolution 4)

3. To approve the Directors’ fees for the year 2000. (Resolution 5)

4. To re-appoint KPMG Desa Megat & Co. as Auditors of the Company and to authorise theDirectors to fix their remuneration. (Resolution 6)

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NOTE:-

1. A member of the Company entitled to attend and vote atthe abovementioned Meeting is entitled to appoint oneother person or persons, whether a member or not ashis/her proxy/proxies to attend and vote in his/her stead.Where a member appoints two or more proxies, themember shall specify the proportion of the member’sshareholding to be represented by each proxy.

2. The instrument appointing a proxy shall be in writingunder the hand of the appointer or his/her attorney dulyauthorised or if the appointer is a corporation, eitherunder its common seal or the hand of its attorney.

3. The Proxy Form must be deposited at the office of theCompany’s Share Registrar, Malaysian Share RegistrationServices Sdn Bhd, 7th Floor, Exchange Square, BukitKewangan, 50200 Kuala Lumpur by hand or fax to 03-2063736 not less than twenty-four (24) hours beforethe time for holding the Meeting or any adjournmentthereof.

4. Explanatory Notes on Special Business:

Ordinary Resolution (7), if passed, will give the Directorsof the Company, from the date of the above GeneralMeeting, authority to issue and allot ordinary shares fromthe unissued capital of the Company being for suchpurposes as the Directors consider would be in theinterest of the Company. This authority will, unlessrevoked or varied by the Company in the generalmeeting, expire at the next Annual General Meeting.

SPECIAL BUSINESS

5. To consider and if thought fit to pass the following Ordinary Resolution:-

“THAT subject always to the Companies Act, 1965, Articles of Association of the Company andapprovals from the Kuala Lumpur Stock Exchange and other government/regulatory bodies wheresuch approvals shall be necessary, full authority be and is hereby given to the Directors pursuantto Section 132D of the Companies Act, 1965 to issue shares in the capital of the Company fromtime to time at such price upon such terms and conditions for such purposes and to suchpersons whomsoever as the Directors may in their absolute discretion deem fit provided that theaggregate number of shares to be issued pursuant to this Resolution does not exceed 10 per cent of the issued share capital of the Company for the time being AND THAT such authority shallcontinue in force until the conclusion of the next Annual General Meeting.” (Resolution 7)

ANY OTHER ORDINARY BUSINESS

6. To transact any other ordinary business of which due notice shall have been given in accordancewith the Companies Act, 1965.

By Order of the Board

AIDA HANIZA ADNAN (LS006623)ROSNAH MAHAT (LS006735)Secretaries

Kuala Lumpur 24 May 2001

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Corporate Information

COMPANY SECRETARIESAida Haniza Adnan (LS006623)Rosnah Mahat (LS006735)

REGISTERED OFFICELevel 21, KUB.com,12, Jalan Yap Kwan Seng,50450 Kuala Lumpur.Tel: 03-27189666 Fax: 03-27189055e-mail: [email protected]

SHARE REGISTRARMalaysian Share Registration Services Sdn Bhd(378993-D)7th Floor, Exchange Square,Bukit Kewangan,50200 Kuala Lumpur.Tel: 03-2317668 Fax: 03-2063736

AUDITORSMessrs KPMG Desa Megat & Co. (Firm No. AF0759)Wisma KPMG,Jalan Dungun, Damansara Heights,50490 Kuala Lumpur.Tel: 03-2553388 Fax: 03-2550971

PRINCIPAL BANKERBumiputra Commerce Bank BerhadLevel 1, Menara Olympia, Jalan Raja Chulan,50100 Kuala Lumpur.Tel: 03-2015555 Fax: 03-2019077

SOLICITORSMessrs Kadir Andri Aidham & Partners8th Floor, Menara Safuan,80, Jalan Ampang,50450 Kuala Lumpur.Tel: 03-2382888 Fax: 03-2388431

Messrs Tengku Mohamed & Alan Lim19th Floor, Wisma Cyclecarri,288, Jalan Raja Laut,50350 Kuala Lumpur.Tel: 03-26930770 Fax: 03-26915434

STOCK EXCHANGE LISTINGKuala Lumpur Stock Exchange (Main Board)

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Board of Directors

Sitting from left:-Kamilia Ibrahim

Dato’ Mohd Noor Yusof

Datuk Hassan Harun - Chairman and Chief Executive Officer

Datuk Ruhanie Haji Ahmad - Deputy Chairman

Standing from left:-Datuk Haji Mohamed Al Amin Haji Abdul Majid JP

Dato’ Ir. Haji Harun Ahmad Saruji

Dato’ Syed Amin Aljeffri

Datuk Haji Ahmad Shahibuddin Haji Mohd Nor

Tengku Mohamed Fauzi Hamid

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Profile of Board of Directors

Datuk Hassan HarunHon. DBA (I.M.C., UK); Hon. D.Mgmt. (UTM);M.Mgmt. (AIM, Manila); B.A Hons (UM)

Chairman and Chief Executive Officer

Datuk Hassan Harun was Chairman of Koperasi

Usaha Bersatu Malaysia Berhad (1991-1997) and

subsequently as Chairman and Chief Executive Officer

of KUB Malaysia Berhad, after transforming the former

from an ailing cooperative to a public-listed company

on 18 August 1997.

Datuk Hassan is also chairman and director of

two other public-listed companies respectively in the

KUB Malaysia Group namely Computer Forms

(Malaysia) Berhad and United Chemical Industries

Berhad. In addition, he also chairs several other

companies in the Group, including KUB Ekuiti Sdn

Bhd, Universiti Tun Abdul Razak Sdn Bhd (UNITAR),

ITTAR Sdn Bhd (ITTAR), KUB Teknologi Sdn Bhd, KUB

Telekomunikasi Sdn Bhd, United Multimedia Sdn Bhd

(UMM), Peraharta Sdn Bhd, Bina Alam Bersatu Sdn

Bhd and KUB Agrotech Sdn Bhd.

Datuk Hassan used to be a director of other

public companies, including Permodalan Kelantan

Berhad (1982-1990), Damansara Realty Berhad (1994-95), and PCCS Group Berhad (1995-98).

Beginning as a temporary teacher in a private school, namely Kelantan English School in 1964, Datuk Hassan has

made education his life-long commitment. Being entrepreneurial, he helped found a private secondary school known as

Institut Pendidikan in 1968, and followed in 1970 by himself pioneering the establishment of Kumpulan Maktab-maktab

Adabi, and subsequently, in 1973 Akademi Kenali. Realising the inevitable advent of private tertiary education in Malaysia,

Datuk Hassan founded Institut Pengajian Tinggi Adabi in 1986, which metamorphosised into Institut Teknologi Tun Abdul

Razak (ITTAR) in 1991 and Universiti Tun Abdul Razak (UNITAR) in 1998, the first virtual university in Malaysia and Asia that

delivers tertiary education on-line.

He has been an active member of United Malays National Organisation (UMNO) since 1964, and has held various

positions in the party. Presently he is a member of the UMNO Supreme Council as well as from 1991-1996. Other key

positions include Kelantan UMNO Youth Chief (1981-82); Kelantan UMNO Information Chief (1991-93); and a member of

several UMNO national bureaux. Currently, he is Chief Executive of Institut Kajian Pembangunan Bangsa (Institute for

Nation Building Studies), an UMNO think-tank.

He was a Senator, Parliament of Malaysia from 1988-1991. His other government assignments include as a

councillor of Kota Bharu Municipality Council (1979-89), and a member of the State of Kelantan Forestry Committee

(1979-80); Malaysia Timber Industry Board (1980-1985); and Second National Economic Consultative Council

(1999-2000). Presently he is a member of the Board of National Higher Education Fund Corporation (since 1998), and a

Malaysian representative to Asia-Europe Vision Group (since 1998).

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Datuk Ruhanie Haji Ahmad Dip. in Public Administration (ITM[currently known as UniversitiTeknologi MARA]), Dip. in Journalism (Harlow Technical College, UK)

Deputy Chairman

Datuk Ruhanie Haji Ahmad started his career in

journalism with the New Straits Times (NST) in 1972 as a

Cadet Reporter. He left NST in 1978 to work as a Marketing

Executive with a real estate company in Segamat, Johore.

Between 1982-1984, he was the Press and Political

Secretary to the Minister of Home Affairs, Malaysia.

Datuk Ruhanie has been the Deputy Chairman of KUB

Malaysia since 1997. He is also a Board Member of several

KUB subsidiaries namely KUB Teknologi Sdn Bhd, Universiti

Tun Abdul Razak Sdn Bhd, and Cybertrek (Malaysia) Sdn

Bhd, as Chairman. His directorship experience includes

other public-listed companies such as Utusan Melayu (M)

Berhad and Concrete Engineering Berhad. He is also

Chairman of Petani Sepadu Sdn Bhd, a plantation-based

company.

He is an active politician serving as a Member of

Parliament for Parit Sulong, Johore since 1990.

Dato’ Syed Amin Aljeffi B.Econs Hons (UM), Chartered Accountant (Canadian Institute ofChartered Accountants), Assoc. Member (Malaysian Institute ofTaxation), CPA (MACPA), CPA (Institute of Certified PublicAccountant of Singapore), Public Accountant (Malaysian Instituteof Accountants)

Director

Dato’ Syed Amin Aljeffri began his career as a financial

analyst at ESSO Malaysia Bhd in 1971. He left ESSO in

1973 to serve Touche Ross & Co as a Chartered

Accountant. He later rejoined ESSO as a Senior

Accountant (1977-79), Staff Financial Analyst of ESSO

Eastern Inc., Houston, U.S.A (1979-81) and Operation

Accounting Manager of ESSO Production, Malaysia

(1981).

In 1981, Dato’ Syed Amin began his public

accounting practice through the firm Aljeffri & Co. which he

registered in 1979. Besides running his own firm, Dato’

Syed Amin also served as the Corporate and Financial

Advisor for the Shapadu Group (1983-1987) and a Board

Member of the Employee Provident Fund (EPF) (1991-

1992). He is presently the Vice President of the Malay

Chamber of Commerce of Malaysia.

Dato’ Syed Amin is also presently a Director of EPE

Power Corporation Bhd (1994-present), United Engineers

(M) Bhd, Kinta Kellas, Crest Petroleum Bhd and several

private limited companies.

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Dato’ Mohd Noor YusofB.S.S. (Universiti Indonesia), Cert. in Language (Teaching Language Institute), Dip. in Teaching(Sultan Idris Training College), Economic Writing course (Institute of Journalism, Berlin)

Director

Dato’ Mohd Noor Yusof, better known as Noor Azam, is acolumnist and has written articles for various national magazines andnewspapers. Dato’ Mohd Noor was a teacher (1948-60) before joiningDewan Bahasa & Pustaka or DBP where he served for over 20 years(1960-81). At DBP, he rose progressively from Assistant Editor (1960-68); Editor (1968-75); Chief Editor (1975-80); and Acting Director General(1980-81).

Dato’ Mohd Noor Yusof also sits on the Board of several othercompanies, including as Chairman of Amona Group of Companies, aprivate limited investment holding company. He is Chairman of KUB-Fujitsu Telecommunications (Malaysia) Sdn Bhd and a director of KUBTelekomunikasi Sdn Bhd. He was Chairman of Datuk Keramat HoldingsBhd (1993-99), UMBC Bhd (1993-96) and Sistem Television MalaysiaBerhad (TV3) (1991-2001).

In politics, Dato’ Mohd Noor was a Special Officer (1982-1984)and Political Secretary (1984-1991) to Prime Minister of Malaysia.

Datuk Haji Ahmad Shahibuddin Haji Mohd Nor B.A. (UM), Dip. Ed. (UM)

Director

Datuk Haji Ahmad Shahibuddin Haji Mohd Nor started his career as ateacher in 1966 and became a headmaster from 1977 to 1982. In 1982, hewas promoted as the Kelantan Deputy Director of Education. In 1986, heresigned and contested in the 1986 general elections as a State Assemblymanand won. He served the Kelantan State Government as an Executive Councillorfrom 1986 to 1990.

Datuk Haji Ahmad Shahibuddin was the Chairman for South KelantanDevelopment Authority (KESEDAR) (1991-1992) and FELCRA Malaysia Berhad(1993-2000). He has been a Member of the National Tobacco Board ofMalaysia since 1976.

Besides being a Board member of KUB Malaysia Berhad, he is also adirector of Permodalan Bersatu Berhad, KUB Ekuiti Sdn Bhd and KUBTelekomunikasi Sdn Bhd.

In politics, he was Kelantan UMNO Liaison Committee Secretary (1984-2000) and an UMNO Supreme Council Member (1987-1996). He has beenchief of UMNO Bachok Division since 1980.

Tengku Mohamed Fauzi HamidLLB Hons (University of Buckingham, UK), Barrister-at-Law (Gray’s Inn, UK); Dip. in IslamicStudies (IIU, Malaysia)

Director

Tengku Mohamed Fauzi Hamid has been a practicing corporate andcommercial lawyer since 1985. He is the founding partner of Messrs TengkuMohamed & Alan Lim, Kuala Lumpur.

Besides KUB Malaysia, he also serves on the Board of Directors of KUBTelekomunikasi Sdn Bhd and KUB Ekuiti Sdn Bhd. He was also a director of LarutTin Fields Bhd (1987-88) and Worldwide Holdings Bhd (1990-93).

Tengku Mohamed Fauzi was appointed as a member of the LegalProfession Disciplinary Investigatory Tribunal from 1998-2000.

Outside the legal and corporate world, Tengku Mohamed Fauzi, since1995, has been the Vice President of the Malaysian Branch of the Royal AsiaticSociety (MBRAS), a historical research organization established in 1877. He wasalso the President of the Diploma in Islamic Studies Alumni Association of IIU from1994-1998.

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Kamilia IbrahimLLB (UM), LLM (UM)

Director

Kamilia Ibrahim began her legal career at Universiti Teknologi Malaysiawhere she lectured law for thirteen years. She is presently the principal partnerin her law firm, which specializes in property, commercial, banking and shippinglaws.

She sits on the Board of KUB Malaysia, and some of its subsidiariesincluding KUBTrus Sdn Bhd, Universiti Tun Abdul Razak Sdn Bhd, ITTAR SdnBhd, Adil Perdana Sdn Bhd and KUB Ekuiti Sdn Bhd.

She has been an elected member of the Wanita UMNO National ExecutiveCouncil since 1987 and heads its Legal Affairs Bureau. She was a Senator ofthe Parliament of Malaysia from 1995 to 2000. She is also a member of theNational Islamic Council Malaysia since 2000.

Dato’ Ir. Haji Harun Ahmad SarujiB.Sc. in Civil Engineering (University of Brighton, UK), Member of Institution of Engineers,Malaysia (MIEM), Professional Engineer (P.E.), registered with the Board of Engineers, Malaysia

Director

Dato’ Ir. Haji Harun Ahmad Saruji served the Malaysian government for 35years. His last position was as the Chief Executive Officer of PerbadananKemajuan Negeri Perak (Perak State Development Corporation), the leading stateagency in the development and promotion of industries, new townships, housingestates and commercial centres.

He is also the Chairman of Perak Corporation Berhad (PCB), a SecondBoard company of the Kuala Lumpur Stock Exchange and PCB’s subsidiariessuch as PCB Development Sdn Bhd and Lumut Maritime Terminal Sdn Bhd.

Being a Board member of KUB Malaysia, he is also a Director for KUB’ssubsidiaries such as KUB Teknologi Sdn Bhd, KUB Telekomunikasi Sdn Bhd,KUB Realty (PJ) Sdn Bhd and Adil Perdana Sdn Bhd.

He is a member of UMNO Pasir Salak Division, Perak, and was a DivisionalCommittee Member from 1980-1987, holding the post of Chairman of itsEconomic Bureau.

Outside the corporate and political world, he is also an active member ofseveral welfare bodies.

Datuk Haji Mohamed Al Amin Haji Abdul Majid JPB.Sc. in Civil Engineering (University of Aston, Birmingham, England)

Director

Datuk Haji Mohamed Al Amin is an active businessman and currently sits on the Board of Directors of two other public listed companies, Ancom Berhadand I Berhad. At Zurich Insurance (M) Berhad, he is the Chairman. He is theExecutive Chairman of Gabongan Pemborong Bumiputera Berhad. He is also the Executive Chairman of several private limited companies such as CountryView Realty Sdn Bhd, Ancom Kimia Sdn Bhd and Panzana Enterprise Sdn Bhd and a member of the Board of Directors for many other private limited companies, notably WorldSOL.com Sdn Bhd, a B2B Internet portal for trading of chemical-related products and services.

Datuk Haji Mohamed Al Amin is presently a Member of The Council ofJustices of Peace, Perak and has served the Government as a Member of theIpoh City Council from 1989 to 1997.

In politics, he was the National UMNO Youth’s Exco Member, the PerakUMNO Youth’s Chief and the Pasir Pinji Division UMNO Youth’s Chief.

Datuk Haji Mohamed Al Amin is active in the development of sports. Hewas responsible for the development of badminton in the country and has served as the Honorary Secretary, Nationalbadminton men’s team manager as well as Chairman of Coaching and Training for the Badminton Association of Malaysia.He is currently the President of Perak Badminton Association.

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Board Audit Committee

1. CONSTITUTIONThe Board of Directors of KUB Malaysia Berhad resolved on 7 May 1997 to establish a BoardAudit Committee.

2. APPOINTMENT The members of the Committee shall be appointed by the Board and their period of appointmentshall be concurrent with their tenure on the Board.

3. COMPOSITIONi) The Committee shall comprise not more than five members, the majority of whom are

independent directors.ii) One of the independent directors shall be the Chairman to be appointed by the

Committee.

4. AUTHORITYi) To initiate efficiency reviews and special project audits.ii) To be allowed unrestricted access to all the Group’s records, properties and personnel

to enable it to discharge its duties.iii) To make recommendations to the Board.

5. RESPONSIBILITYi) Responsible to the Board of Directors.ii) Not responsible for day-to-day operating decisions, except to the limited extent of

establishing an effective control environment.

6. DUTIESi) To review:

• the annual financial statements and annual reports prior to submission to the Board;• the Group’s quarterly results prior to submission to the Board and the Kuala Lumpur

Stock Exchange;• any related transactions that may arise within the Group; and• the plan, scope and areas of internal audit and external audit consideration and

their respective audit findings.ii) To review and evaluate the quality of service provided by the external auditors and to

make recommendations concerning their appointment /replacement and remuneration.iii) To assess the adequacy of management reporting.iv) To report to the Board on the significant activities and development of the Group as

highlighted in the external/internal audit reports.v) To make suitable recommendations to the Board.

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Datuk Haji Mohamed Al Amin Haji Abdul Majid JPChairman

Not in pictureDato’ Ir. Haji Harun Ahmad Saruji

Dato’ Syed Amin Aljeffri

7. ATTENDANCEi) Meetings will be attended by members of the Committee, Internal Auditors and the Company

Secretary who will act as the Secretary.ii) Participants may be invited to attend the meeting depending on the nature of the

subject matter under review.

8. MEETINGSMeetings are to be held as and when it is deemed necessary by the Chairman of theCommittee.

9. QUORUMAny two members of the Committee present at the meeting shall constitute a quorum.

10. MINUTESThe Secretary shall:i) keep minutes of the proceedings of the meetings.ii) issue notices of meetings.iii) circulate minutes among members of the Committee.

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Executive Committee

Shabaruddin IbrahimDeputy Chief Executive Officer

Rahim Kamil SulaimanGroup Chief Operating Officer

Datuk Hassan HarunChairman and Chief Executive Officer

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Corporate Structure

ON-LINE EDUCATION & TRAINING

INFORMATION &COMMUNICATIONS

TECHNOLOGY

Universiti Tun Abdul Razak Sdn Bhd (100%)

ITTAR Sdn Bhd (100%)

United Multimedia Sdn Bhd (100%)

INFORMATION TECHNOLOGY

KUB Teknologi Sdn Bhd (100%)

KUB Sistem Sdn Bhd (60%)

Tele Dynamics Sdn Bhd (60%)

VisionScape Sdn Bhd (51%)

Muslimsconnect.com Pte Ltd (60%)

TELECOMMUNICATIONS

KUB Telekomunikasi Sdn Bhd (100%)

KUB-Fujitsu Telecommunications (Malaysia) Sdn Bhd (70%)

Somatel (Malaysia) Sdn Bhd (51%)

Cybertrek (Malaysia) Sdn Bhd (51%)

PROPERTIES & CONSTRUCTION

PLANTATIONS

CONSUMER PRODUCTS

PROPERTY DEVELOPMENT

KUB Development Berhad (100%)

Adil Perdana Sdn Bhd (70%)

Pembinaan Efektif (M) Sdn Bhd (100%)

PROPERTY MANAGEMENT

KUB Realty Sdn Bhd (100%)

KUB Realty (PJ) Sdn Bhd (100%)

Peraharta Sdn Bhd (100%)Perbiba Sdn Bhd (100%)

ENGINEERING & CONSTRUCTION

Bina Alam Bersatu Sdn Bhd (55%)

KUB Power Sdn Bhd (100%)

KUB Agrotech Sdn Bhd (100%)

KUB Sepadu Sdn Bhd (60%)

KUB Prasarana Sdn Bhd (100%)

Utama Steel Works Sdn Berhad (51%)

Kesina Sdn Bhd (100%)

GARMENTS

KUB Tekstil Sdn Bhd (100%)

Maga Textile (M) Sdn Bhd (100%)

DIRECT SELLING & TRADING

KUBTrus Sdn Bhd (74%)

LPG BOTTLING & TRADING

KUB Gas Sdn Bhd (100%)

Pernida Berhad (86%)

FOOD & BEVERAGES

KUB Singgahsana (PJ) Sdn Bhd (100%)

DATUK HASSAN HARUNChairman and Chief Executive Officer

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Chairman’s Statement

BISMILLAHIRRAHMANIRRAHIM

To all our stakeholders,

In May 2000, the Group moved into our new headquarters in the heart of the capital’s centralbusiness district, 5 minutes walk from the world’s latest landmark and tallest building - the PetronasTwin Towers. It was named ‘KUB.com’, appropriate for an intelligent building and a new address in cyberworld, in a ceremony officiated by YAB Dato’ Seri Dr Mahathir Mohamad on 9 September2000.

‘KUB.com’ symbolises our entry into the knowledge economy empowered with Information and (ICT).In this business hub, located on the perimeters of Malaysia’s Multimedia Supercorridor (MSC), ourcompanies are deploying the Internet and broadband technologies to integrate with the globalmarketplace. We believe that in becoming a knowledge corporation, we must develop ourselvesinto a learning organisation. The establishment of Universiti Tun Abdul Razak (UNITAR) using onlinedelivery systems to support lifelong learning “anytime, anywhere”, underlines our determination and practical strategy to respond to the challenges of globalisation. This sets us apart from thedotcoms, the majority of which do not produce goods or services mediated in the Internet.

KUB will continue to sell cooking gas, computers, garments, build houses, install telecommunicationsystems, develop business solutions, educate students and train business professionals. We will bedoing the same thing differently, creating digital market and exchange for our suppliers andcustomers to transact with us.

Our entire workforce, suppliers, customers, services, providers and stakeholders are now joined intoa connected community with a common address @kub.com that can be accessed from KualaLumpur, Penang, Kota Bharu, New York, Dubai or anywhere in the world. With our vast experiencein different sectors of the economy and understanding of the business processes, we are able todevelop solutions that will make Internet pervasive and ubiquitous.

The cutting edge of the knowledge economy is pervasive connectivity for the entire country,supported by best business practices of learning organisations. On 8 May 1998, we installed thecountry’s first Wireless in Local Loop (WiLL) in Jeli, a remote town in Kelantan. In November 2000,we had the first roll out of RM318 million contract for WiLL, awarded by Telekom Malaysia Berhad.In January 2001, we installed the first wireless broadband (2 Mbps) connection between KUB.comand various sites in Kuala Lumpur, some 20 km away. In KUB.com we experimented with digitalbroadcasting, upgraded our multimedia production and delivery capabilities and created variousbusiness portals. As soon as the Government permits we wil l rol l out an extensiveinfocommunication infrastructure that will provide affordable high speed Internet services forstudents and lecturers, restaurants, clinics, retail shops, factories, bank and big businesses.

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Wireless connectivity to personal computers and otherdevices will elevate the country’s e-business capability as itoffers connectivity “anytime, anywhere”. Of course, ourcompanies will be the first to deploy these technologies.

2000 Financial Review

At KUB Malaysia Berhad, we strive to produce better goodsand services year after year. In our core businesses of ICT,Properties and Construction, Plantations and ConsumerProducts, we constantly try to deliver a diverse range ofproducts that pleases our customers.

Judging by turnover growth, we think that our customers’ level of satisfaction is increasing year afteryear, and our marketing effort is definitely reaching new customers. Group turnover hit RM480.1million for the year ended 31 December 2000, up by 46.7 per cent from 1999’s RM327.2 million.Our focus in ICT is well founded. The turnover for the ICT sector is high, constituting almost 59 percent of overall Group’s turnover. The ICT sector’s turnover grew almost 25 per cent in 2000.

UNITAR, the Group’s flagship virtual university, recorded a total number of 3,800 active students in2000. Apart from increasing UNITAR’s turnover from RM7.1 million in 1999 to RM17.95 million in2000, this increase in student enrolment numbers also signals the growing acceptance of onlineeducation amongst Malaysians.

Tele Dynamics Sdn Bhd (Tele Dynamics) registered a turnover of RM131.4 million, an increase of27.6 per cent over previous year’s RM103 million.

The Telecommunications Division posted RM26.2 million or 31.8 per cent jump in turnover toRM108.6 million from 1999’s RM82.4 million, thanks to the commencement of the RM318 millionWireless in Local Loop (WiLL) project in November 2000. The WiLL project helps to provide thewireless communication facilities to rural and suburban Malaysia, and is another building block in the country’s push towards becoming a connected knowledge economy. Wireless technology will be the answer in solving much of the under-utilised telecommunication highways in the country.It would make possible the connectivity from the highways to the ultimate subscribers. In KUB weterm this as the “First Mile”.

Elsewhere, sizeable increases in turnover were also recorded in the Properties and Construction and Consumer Products sectors. The turnover for Properties and Construction grew almost two-fold, bringing in RM101 million compared to 1999’s RM36.2 million. Consumer Products sectorregistered an increased turnover by 57 per cent to RM87.6 million from 1999’s RM55.8 million.

Plantations was the only disappointing sector due to low crude palm oil prices for most of 2000,resulting in the Plantations sector’s reduced turnover from 1999’s RM7.6 million to RM5.2 million in 2000.

Of course, it took substantial investment to produce such turnover growth. During the year underreview, the Group has spent RM211.9 million on capital and development expenditure, an increaseof 127 per cent from 1999 of RM93.2 million. 78 per cent of those expenditure was put into ICTinfrastructure and tools, specifically our headquarters KUB.com which is a landmark showcase forICT fully equipped with state-of-the-art ICT capabilities and integrated network; SUN E10k serverwhich will be the main data centre for UNITAR and is capable to serve more than 10,000 users; i-Boards which have unique capability to change display content as often as necessary; andacquisition of computer softwares/hardwares across the Group including coursewares for our online education. With these substantial investments including refurbishment works on education

........................................................600,000

1997

........................................................500,000

........................................................400,000

........................................................300,000

........................................................200,000

........................................................100,000

........................................................-1998

RM

'000

1999 2000

TURNOVER

Turnover

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and other business premises, coupled with productdevelopment of new ICT ventures, the Group’s depreciationand amortization charges escalated by 18 per cent toRM26.8 million from RM22.8 million in 1999.

The Company’s investment value in an associate companywhich the then Permodalan Perak Berhad (now KUB MalaysiaBerhad) invested in 1993, since the past years hasdeteriorated against its book cost. The Group’s prudentaccounting treatment and the need to reflect a more realisticvaluation of its investment in associated company and otherunquoted shares, has resulted in the Group providing fordiminution in value of these investment by RM10.8 million.

The depreciation and amortization charges and provision for diminution of investment, both totallingRM 37.6 million, were the main factor behind overall Group losses before tax of RM38 million foryear 2000.

For the year 2000, almost all companies recorded positive earnings before interest, tax,depreciation and amortization (EBITDA). This signifies the companies intrinsic strength in theirbusiness activities that will generate positive returns in the coming years.

The positive companies’ EBITDA can be pinned down to several factors. First, the implementation ofcost cutting measures by reducing staff costs in the form of restricted increment and bonuspayment. Another, by housing all KUB subsidiaries in KUB.com, cash out flow for third party rentalreduced by almost half from 1999.

Second, we have been using ICT tools as much as possible. By shifting some operations onto theInternet and Intranet, we slashed costs and increased productivity. Productivity of our humanresources has increased markedly. Group headcount for 2000 did not grow much beyond 1999’s2546 staff. But this number of people managed to produce a 46.7 per cent jump in Group turnover.This is what we mean when we tag KUB as “A Leading Knowledge Corporation Catering For TheInformation Age”. We at KUB are successfully using knowledge management skills and deployingICT tools to create stakeholder value.

Third, we expand existing businesses. For instance, Tele Dynamics used to deal exclusively in officeautomation equipment. However, it revamped itself into a total business solutions provider in 2000,offering complete system integration solutions. This means that Tele Dynamics now earns extrarevenue from services instead of just goods.

Arising from the disposal of 30 per cent interest in Sime Bank Berhad shares and the subsequentsale of shares in RHB Capital Berhad, I wish to report the status of the utilization of the proceedsreceived from the corporate exercise. As at 31 March 2001,a total of RM649.2 million or 78.6 per cent has been utilised.RM424 mil l ion were used to sett le the Group ’s bankborrowings and RM83.6 mil l ion were uti l ised for theacquisition and fitting out of KUB.com, our new corporateheadquarters. 20.9 per cent or equivalent to RM136 millionwere used to develop the Group’s existing core businessesand RM5.6 million were for working capital purposes, livingRM176 million cash in our coffers.

For 2000, the Group posted a loss of 9.89 sen per sharecompared to earnings per share of 24.56 sen in 1999. Otherfinancial indicators were strong. Fixed assets totalled RM330million as at 31 December 2000, an increase of 90 per cent

........................................................150,000

1997

........................................................100,00

........................................................50,000

........................................................-

........................................................-50,000

........................................................-100,000

........................................................-150,001998

RM

'000

1999 2000

(LOSS)/PROFIT

Loss before tax andexceptional items

(Loss)/profit before tax

........................................................30.0

1997

........................................................20.0

........................................................10.0

........................................................-

........................................................-10.0

........................................................-20.0

........................................................-30.0

........................................................-40.01998

Sen

1999 2000

EARNINGS PER SHARE

EPS

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over assets of RM174 million as at 31 December 1999. The Group has ample reserves of RM214.9million as at 31 December 2000 compared to 1999’s reserves of RM264.9 million. Gearing remainslow at 22 per cent compared to 1999’s 14 per cent.

Last but not least, the Group has also been working on improving corporate governance andinvestor relations. We are pleased to report that we came in second in the Institute of InternalAuditors Malaysia Inaugural Corporate Awards 2000 (category 1 for Organization that hasdemonstrated strong commitment to Continuous Professional Development), losing out only to theKuala Lumpur Stock Exchange. Our corporate governance measures adhere to the Malaysian Codeof Corporate Governance.

We are also keenly aware of minority interest rights, and will take necessary measures to keepminority shareholders informed of material events at KUB. As a first step, in this annual report, weare including profiles on all directors and senior management and individual in KUB companies. Bydoing so, we hope that shareholders will gain a better understanding of KUB businesses, as well assome knowledge of the people who run the daily operations and their qualifications.

Outlook for 2001

The Group is confident that 2001 will turn out to be a better year in terms of turnover and profit. For2001, we will continue to consolidate our businesses and concentrate on building up our reservesin order to weather the economic slowdown forecast for 2001. Cost-cutting measures, the use ofICT tools and the development of new markets will continue to feature strongly in Group activitiesfor this new year.

Once again, the bulk of turnover or an estimated 70 per cent will come from the ICT businesses,with the remainder from Properties and Construction, Consumer Products and Plantation.

Group turnover will be well supported by KUB Telekomunikasi Sdn Bhd and KUB-FujitsuTelecommunication Sdn Bhd, which will continue to implement the ongoing RM318 million WiLLcontract for Telekom Malaysia Berhad.

Computer and office automation equipment distributor Tele Dynamics has forecasted better sales for2001. First quarter sales forecasts have already been met. The nation’s leading distributor ofToshiba laptops will also be aided by the government’s desire to increase consumption and promotecomputer ownership.

........................................................1.55

1997

........................................................1.50

........................................................1.45

........................................................1.40

........................................................1.35

........................................................1.30

........................................................1.25

........................................................1.20

........................................................1.15

........................................................1.101998

RM

1999 2000

NET TANGIBLE ASSETS

NTA/Share

........................................................1,400

1997

........................................................1,200

........................................................1,000

........................................................800

........................................................600

........................................................400

........................................................200

........................................................-1998

RM

'mill

ion

1999 2000

TOTAL ASSETS

Total Assets

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Progress is also evident in other areas of the core ICT sector for the first quarter of 2001. Plans areafoot to turn UNITAR into a worldwide franchise, starting with countries in the Asian region.Franchise rights will be sold to interested foreign parties, and the Group will collect franchise andconsulting fees.

Its wholly owned subsidiary, United Multimedia Sdn Bhd (UMM) has inked a partnership agreementwith SAP AG, the third largest software company in the world that provides e-business solutions forall types of industries. Under the first pilot project, UMM has digitized SAP20, a classroom courseinto an e-learning course materials for SAP AG.

Beginning in the first quarter 2001, UMM is digitising medical courses for practitioners across theUnited States into e-learning course material via a contract with the prestigious John HopkinsMedical University, a world renowned medical school. UMM is becoming the e-learning coursematerials developer for MedBiquitous Consortium LLC, a consortium formed by John HopkinsMedical University and major medical schools in the world, medical societies and publishers.

Elsewhere, the Properties and Construction arm has a full order book for 2001 and beyond. Via BinaAlam Bersatu Berhad, we have been appointed by TPPT Sdn Bhd as a Turnkey Developer toimplement the development of a housing development project in Rawang, Selangor, under theTabung Pusingan Perumahan Kos Rendah (Low Cost Housing Revolving Fund) project, estimatedlyworth RM1.8 billion, and housing projects in Kuala Lumpur and Kelantan worth RM72 million by KUBDevelopment Berhad.

In the Consumer Products sector, “Canggih” has become a widely accepted brand for schooluniforms and an item that must be purchased regardless of the macro economic environment. Wehope to double its sales this year.

ICT and knowledge management will continue to be our major tools in increasing efficiency andproductivity and enhancing returns for 2001 and beyond. We are integrating ICT into all of the Groupbusinesses; and this will be an ongoing process. We are banking on the use of knowledgemanagement to create new applications (such as our e-learning solutions), and to enhanceefficiency, productivity and value (by deploying customised applications such as HRiX and iXVO).Our knowledge workers have developed the necessary skills to perform at optimum level.Knowledge management made the difference. We created value by making full use of our intellectual capital.

We hope that all our stakeholders - directors, shareholders, management, staff and customers - willcontinue to give us their support. Thank you for believing in us all this while. Together, we hope todeliver even better results for 2001.

Datuk Hassan HarunChairman and Chief Executive Officer

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Corporate Headquarters’ Senior Management

From left:

1. Nik Fazila Shihabuddin

2. Hiruddin Hashim

3. Chin Kwong Keong

4. Shabaruddin Ibrahim

5. Datuk Hassan Harun

6. Mohd Noor Omar

7. Rahim Kamil Sulaiman

8. Aida Haniza Adnan

9. Md Fauzi Said

10. Rozliham Ali

Not in picture

Prof. Dr. Nik Rahimah Nik Yacob

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Datuk Hassan HarunChairman and Chief ExecutiveOfficer

Shabaruddin Ibrahim Deputy Chief Executive Officer• BComm, University of Tasmania,

Australia.• Fellow, Institute of Chartered

Accountants in Australia.• Member, MIA.• Member, MACPA• Member, IIA Malaysia.• Served KPMG Peat Marwick

Melbourne for 4 years and KualaLumpur for 1 1/2 year.

• Served Petronas Group ofCompanies for 11 years.

• Joined KUB as Chief FinancialOfficer before his appointmentas Deputy CEO.

Rahim Kamil Sulaiman Group Chief Operating Officer• BE, University of Melbourne,

Australia. • Started career in 1978 as

Assistant Plant Manager atNylex (M) Sdn Bhd beforejoining Petronas Dagangan asHead of LPG Marketing.

• Served Harom LPG as GeneralManager before taking theposit ion of Deputy GroupGeneral Manager of Gas PantaiTimur Group.

• Joined KUB as Deputy Presidentof ITTAR. Before becomingGCOO, he was the Group ChiefCorporate Planning Officer.

• Consultant External Examinerand Visiting Associate Professorat UTM from 1993 to 2000.

Md Fauzi Said Group General Manager, Corporate Communications• MSc (Economics), University of

London, UK.• BA (History), Universiti Malaya.• More than 25 years experience

in companies involved inmanufacturing, banking andtransportation.

• Before joining KUB, Md Fauziworked in KTMB as Director ofHuman Resource.

Mohd Noor Omar Group General Manager,Corporate Planning• MBA (Finance and Marketing),

University of Wales, Cardiff.• BAcctg, Universit i Teknologi

MARA.• Member, MIA.• More than 20 years experience

in f inance and internationalbusiness having servedoverseas as Finance Director forPT Guthrie Peconnina inIndonesia.

• Joined KUB as GeneralManager International Businessbefore assuming currentposition.

Prof. Dr. Nik Rahimah Nik Yacob Group General Manager,Corporate Marketing

Nik Fazila ShihabuddinGroup General Manager, Finance• BEcons (Accounting), Flinders

University of South Australia.• Member, MACPA.• Member, MIA.• Associate member, Austral ian

Society of CPA.• 10 years experience at senior

level in Audit and BusinessAdvisory with PriceWaterhouseand prior to joining KUB was atSapura TelecommunicationsBerhad as General Manager ofCorporate Audit.

Rozliham AliGroup General Manager,Corporate Governance andInternal Controls• MAcctg, Washington State

University, USA.• BAcctg/MIS, St. Mart in ’s

College Washington State, USA.• Prior to joining KUB served for 6

years at Baxter Healthcare (S.A)in various positions of accountingand manufacturing operations.

Hiruddin HashimGroup General Manager, Human Resource Management• BSS, Universiti Sains Malaysia.• Dip. (Personnel Management),

Malaysian Institute of PersonnelManagement.

• 20 years experience in HumanResource Management andDevelopment in companiesinvolved in banking and insurance.

Chin Kwong Keong Group Senior Manager, Corporate Systems• ACCA UK.• Dip. (Commerce - Finance),

Tunku Abdul Rahman College.• 14 years experience in internal

audit with Pertronas.

Aida Haniza AdnanGroup Senior Manager,Legal & Secretarial Division• LLB (Business Law), University

of Huddersfield, UK.• Member, ICSM. • Has served as the Manager,

Legal & Secretarial Division ofTechnology Resources IndustriesBerhad and Joint CompanySecretary of CELCOM.

• Appointed Company Secretaryof KUB Malaysia Berhad Groupof Companies beginning 2000.

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Subsidiary Company - Universiti Tun Abdul Razak Sdn Bhd

Datuk Hassan Harun Chairman

Datuk Ruhanie Haji Ahmad

Tan Sri Datuk Dr. Wan Mohd Zahid Mohd Noordin

Kamilia Ibrahim

Datuk Dr. Syed Othman Syed Hussin Alhabshi

Shabaruddin Ibrahim

Rahim Kamil Sulaiman

Universiti Tun Abdul Razak Sdn Bhd (UNITAR) was established in 1997 and commencedoperations in September 1998 as the first virtual university of its kind in the world. Its establishmentis in tandem with the government’s aspirations to mould the nation into a knowledge-based society,fully prepared for impending knowledge economy and a centre for education excellence in theregion. It is to this end that UNITAR heavily leverages information, communications and multimediatechnologies in order to develop the teaching and learning environment that enables customized andlifelong education. The delivery mechanism is pervasive, enabling it to cater for a wider reach ofstudents across the world with tremendous economies of scale.

UNITAR offers academic programmes from bachelor to doctorate levels in business, informationtechnology, humanities and social sciences. These programmes are approved by the NationalAccreditation Board and the Ministry of Education. With this approval, all the undergraduatestudents are eligible for study loans offered by the National Higher Education Fund Board.

In line with the Government’s vision of promoting Malaysia as the Centre of Education Excellence,UNITAR is actively seeking the opportunities to export its products and services overseas. UNITARwill eventually be turned into a worldwide franchise, starting with countries in Asia. In year 2000,UNITAR enrolled its first batch of students from Jiangsu Changzou Health School, China toundertake a nine-month programme that awards the Certificate of Completion in English andInformation Technology. Besides China, UNITAR is also forging a collaboration and a partnership withUniversity Technology, Sydney and some very reputable schools in Indonesia.

Board of Directors Datuk Dr. Syed Othman Syed Hussin AlhabshiPresident and Chief Executive Officer• PhD (Econometrics), University of Birmingham, UK.• MSc (Statistics), University of Wisconsin, USA.• BEcons (Statistics), Universiti Malaya.• Cert. (Education), Malayan Teachers’ College.• Datuk Dr. Syed Othman has served in 4 universities,

namely UM, UKM, IIUM and UUM, where he was theDeputy Vice Chancellor (Academics). Before taking onhis current position as the founding President and CEOof Universiti Tun Abdul Razak (UNITAR) he was theDeputy Director General of Institute Kefahaman IslamMalaysia (IKIM). He has been engaged as advisers andconsultants for the government and private sectorlocally and abroad.

Prof. Dr. Syed Abdul Hamid Syed Ahmad Al-JunidDeputy President, Academic and Student Affairs• PhD (Economics), University of Wisconsin, Madison,USA.• MA (Economics), State University of New York, USA.• BEcons, Universiti Malaya.• Over 20 years experience as academician in public and

private universities, teaching economics and managementcourses with special interest in values, leadership and ethicstudies.

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89

SeniorManagement1. Assoc. Prof. Dr. Sheikh

Ghazali Sheikh Abod

2. Datuk Dr. Syed Othman Syed Hussin Alhabshi

3. Prof. Dr. Mohamad Salmi Mohd Sohod

4. Abdul Razak Mohamed

5. Prof. Dr. Khairuddin Hashim

6. Prof. Dr. Nik Rahimah Nik Yaacob

7. Assoc. Prof. Dr. Ahmad Zohdi Abdul Hamid

8. Prof. Dato’ Dr. Ibrahim Ahmad Bajunid

9. Prof. Dr. Syed Abdul Hamid Syed Ahmad Al-Junid

Not in pictureProf. Dr. Abu Daud Silong

Dr. Mohamad Salmi Mohd SohodDeputy President, Technology andDevelopment• PhD (Management), University of

Bradford, UK.• MSc (Manufacturing and Industrial

Management), Western MichiganUniversity, USA.

• BSc (Manufacturing), WesternMichigan University, USA.

• Over 16 years experience as anacademician at Universiti UtaraMalaysia in the areas ofentrepreneurship and best practicemanagement, e-learning and qualitymanagement.

Prof. Dr. Nik Rahimah Nik YacobVice-President, Corporate Planningand Business Development• PhD (Business Administration),

University of Colorado, USA.• MBA, University of Idaho, USA.• BSc (Business Administration),

California State University, USA.• More than 17 years experience as

an academician at tertiary level. • Received prizes and awards in

recognition of her contribution inMarketing such as A ConsortiumFellow at the 23rd AmericanMarketing Association and the UKMPublication Award for BestResearch Article.

Prof. Dr. Khairuddin HashimDean, Faculty of Information Technology• PhD (Computer Science), University

of Bath, England,UK.• MSc (Computer Science), University

of Dundee, Scotland, UK.• BSc, Universiti Malaya.• More than 10 years experience as

an academician in IT, specializing insoftware engineering with expertise

in process modelling, software quality,risk and project management.

• A keen researcher and author. Hehas written and presented hisresearch in numerous computerscience conferences locally andinternationally.

Prof. Dato’ Dr. Ibrahim AhmadBajunidDean, Faculty of Humanities and Social-Science• ED.D, Harvard University, USA.• ED.M, Harvard University, USA.• MEd, Universiti Malaya.• BA,Universiti Malaya.• Dip. (Education),Universiti Malaya.• Dip. (Teaching of English Overseas),

Leeds University, UK.• More than 30 years experience

in education management anddevelopment. Among hisachievements are the establishmentof Institut Aminudin Baki andMalaysian Executive PrincipalAssessment and DevelopmentCentre.

Prof. Dr. Abu Daud Silong Head, Centre of Graduate Studies• PhD (Training and Development),

University of Maryland, College Park,USA.

• MSc (Adult and ContinuingEducation), University of Wisconsin,Madison, USA.

• BSc (Agriculture), Universiti Malaya.• More than 20 years experience as

an academician in public institutionof higher learning, specializing intraining and development withexpertise in distant education andadult learning.

Assoc. Prof. Dr. Ahmad ZohdiAbdul HamidDean, Faculty of Business Administration • PhD (Business Administration),

Mississippi State University, USA. • MBA, Washington State University, USA.• BSc (Agriculture Economics),

University of Wisconsin-Madison, USA.• Dip. (Agriculture), Universiti Putra

Malaysia.• More than 22 years experience as

an academician and consultant onmanagement and human resourceissues. His expertise is in humanresource management anddevelopment, organisational cultureand change management.

Assoc. Prof. Dr. Sheikh GhazaliSheikh AbodGeneral Manager, Finance and Accounts• PhD (Finance), University of Durham,

UK.• MBA, Catholic University of Leuven,

Belgium.• Dip. (Computer Science), Universiti

Teknologi MARA.• More than 20 years experience as

an academician and consultant oncorporate finance.

• Has been a consultant to the PrebonYamane (UK) Ltd, an internationalwholesale financial intermediary andhe currently sits in the technicalboard of ASNITA.

Abdul Razak MohamedSenior Manager, Corporate Services• BEcons (Public Administration),

Universiti Malaya.• 13 years of experience in academic

administration including five years inHuman Resource Administration.

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Tan Sri Datuk Dr. Wan Mohd Zahid Wan Noordin


Shabaruddin Ibrahim


United Multimedia Sdn Bhd (UMM) was incorporated in 1998 as a wholly owned subsidiary ofUniversiti Tun Abdul Razak Sdn Bhd (UNITAR) with courseware development as its core business.Initially UMM developed courseware exclusively for UNITAR. As its competency in other related areasare acquired, it provides supplementary services in virtual education technology solutions such as theVirtual Online Information Support System (VOISS), Sistem Pembelajaran Interaktif (SIBER) and theStudent Administration System (SAS).

UMM had successfully developed various titles on CDs, Web and E-learning content for UNITAR andexternal clients. One of the most successful commercial CD produced and widely circulated is theMalaysian University English Test (MUET).

UMM also manages an extensive Network backbone for online education infrastructure and integratessystems to support data centres. The data centres that are equipped with SUN E10K platforms thatenable and ensure availability of an uninterrupted 7x24x365 data centre.

UMM has developed a joint collaborative agreement with SAP AG in the areas of E-learning initiatives,under which UMM has converted existing SAP 20 classroom course into Web-Based material. UMMis currently digitizing medical courses for medical practitioners across the United States incollaboration with the prestigious John Hopkins University - host and innovator of John HopkinsMedical Online.

To provide virtual learning, UMM’s Customer Relationship Management Service Centre provideshelpdesk services to UNITAR students through a state-of-the-art telecommunication system androuting facility.

UMM has rolled out the e-Planet. The e-Planet model operates under the franchise business conceptconsisting of three separate products - Virtual Resource Café, Virtual Learning Club and IT Shoppe.These products complement the E-learning mode, with outlets throughout the country that function asUNITAR’s mini learning centres.

Board of Directors

Subsidiary Company - United Multimedia Sdn Bhd

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Dr. Mohamad Salmi Mohd SohodChief Executive Officer

Omar MusaSenior Manager, Technical • MBA, Ohio University Athens,

USA.• BTech (Electronics Engineering

Technology), State University ofNew York at Buffalo , USA.

• Over 10 years experience inteaching and academic andstudent affairs administrat ionand IT facilities management.

Megat Iskandar Megat AhmadSupianSenior Manager, Business Operationsand Development• MPA, Eastern Michigan University,

USA.• BBA, Ohio University, USA.• Over 10 years experience in

sales and marketing.

Halinah AtanSenior Manager, Training andResearch and Development• MSc (Compute r I n fo rma t ion

Sys tem) , Un ive rs i t y o f NewHaven, USA.

• BSc (Computer Science), WesternMichigan University, USA.

• 15 years experience in teachingat tertiary level with 5 years inprofessional training management.

Roslan RamliSenior Manager, CoursewareDevelopment• M S c ( C o m p u t e r S c i e n c e ) ,

Universiti Teknologi Malaysia.• P o s t G r a d . D i p . ( C o m p u t e r

Science), Universit i TeknologiMalaysia.

• BA (Mathematics), University ofWestern Florida, USA.

• Dip. (Science - Applied Science),Universiti Teknologi MARA.

• Over 17 years experience in ITeducation.

Reduan SamadSenior Manager, Software Department• MSc (Compu te r Sc i ence ) ,

Central Michigan University, USA.• B S c ( C o m p u t e r S c i e n c e ) ,

Western Michigan University,USA.

• Over 11 years experience in ITimplementation in education.

Muhammad Dimyati AbdullahSenior Manager, Network and Systems • MTech (Information Technology),

University of Tasmania, Australia. • BSc (Mechanical Engineering),

University of Sunderland, UK.• Over 12 years experience in

Engineering and IT.

Aznin Nur AmeranManager, Corporate Planning• ACCA, UK.• BSc (Accounting and Finance

Analysis), University of Warwick, UK.• Registered consultant with the

Ministry of Entrepreneur Development. • Over 10 years experience in

business and financial consulting.

Fong Chin TauManager, Finance• MAcctg, University of Hawaii,

Honolulu.• BSc (Business Administration),

Hawaii Pacific University, Honolulu.• Member, MACPA and MIA.• Over 8 years experience in

finance and accounting.

Raihan Haji HassanManager, Customer RelationshipManagement• BSc ( International Business),

University of Bridgeport, USA.• Over 12 years experience in

marketing and customer serviceoperations and call centre set ups.

Abdullah Faizal Muhamad DrusFacilities Manager• BA (Architecture) (CNAA) Leeds,

UK.• Over 15 years experience in

interior renovation and buildingconstruction.

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2. Aznin Nur Ameran

3. Fong Chin Tau

4. Raihan Haji Hassan

5. Reduan Samad

6. Megat Iskandar Megat Ahmad Supian

7. Muhammad Dimyati Abdullah

8. Omar Musa

9. Halinah Atan

10. Abdullah Faizal Muhamad Drus

11. Roslan Ramli

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Kamilia Ibrahim


Shabaruddin Ibrahim


ITTAR Sdn Bhd (ITTAR) was incorporated on 8 September 1984 under its original name, InstitutPendidikan Tinggi Adabi. It changed to its current name upon the acquisition and restructuring of itsbusiness by KUB in October 1991.

ITTAR, also known as Institut Teknologi Tun Abdul Razak, offers academic programmes at diplomaand certificate level. The diploma level programmes are accredited by the National AccreditationBoard (LAN) of Ministry of Education Malaysia. With this accreditation, students undergoing studiesat ITTAR are eligible for financial assistance from the National Higher Education Fund. Skilled basedtraining and short courses students are eligible for financial assistance from the Skill DevelopmentFund of the Ministry of Human Resources.

ITTAR has four schools of studies which offer various programmes, namely the School ofManagement, School of Hotel and Tourism, School of Information Technology and School ofEngineering. The various courses conducted by the School of Management and the School ofInformation Technology are available from four centres situated in Kuala Lumpur, Kota Bharu, JohorBharu and Alor Setar. To cater for the requirements of the k-economy, ITTAR introduced new courses- the Diploma in IT (Multimedia), Diploma in IT (Network) and Diploma in IT (System Development).ITTAR Langkawi on the other hand, manages a full-board Centre by running Matriculation Programsfor the Ministry of Education.

ITTAR also offers preparatory courses and short courses in Entrepreneurship, Information andCommunications Technology and Languages through its Entrepreneurship Studies and DevelopmentCentre (ESDEC).

The School of Engineering located in Prai, Penang, conducts skill-based trainings such as the skillprogrames at Skill Certificate level 1, 2, and 3 (MLVK Certificates) in Engineering. Through thecollaboration with Universiti Sains Malaysia, the School of Engineering offers Diploma in MechanicalEngineering and Diploma in Electrical & Electronics Engineering.

The School of Hotel and Tourism in Petaling Jaya, conducts courses that prepare students for thehospitality and tourism industry. The diploma level courses offered include Diploma in HospitalityManagement, Diploma in Culinary Arts and the Diploma in Tourism Management. These programmesare also offered at certificate level. The School of Hotel and Tourism is a recognized training providerunder the Human Resources Development Council Scheme. An agreement entered into with theSwiss School of Hotel & Tourism (SSH) of Chur, Switzerland, a renowned institution in hospitalitytraining, recognizes ITTAR diplomas as equivalent to the Switzerland’s Diploma in Hotel & RestaurantManagement. With this recognition, ITTAR graduates are given the opportunity to do a one yearcourse leading to a Bachelor of Administration in Hospitality and Tourism Management inSwitzerland.

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Dr. Yahya Mat HassanPresident• PhD (M ic rowave E l ec t r one )

University of Durham, UK.• BSc, Universiti Malaya.• Dr. Yahya taught at Universiti

Putra Malaysia before joiningRenong, where he set upRenong ’s Faculty of BusinessManagement in University ofUzbekistan. He has served onthe Technical Committee of theMalaysian Rubber ProductsCouncil as Vice-Chairman.

Dr. Hussein MahmoodVice President, Academic• PhD (Education), University of

Michigan Ann Arbor USA.• MEd, Universiti Malaya. • BA, Universiti Malaya.• More than 30 years experience

in educa t ion and teachers ’training.

Haji Zaharuddin Haji MahmudVice President, Corporate Services• MBA, University of Morehead

State Kentucky, USA.• Post Grad. Dip. (Marketing), UK.• High. Nat. Dip. (Business Studies),

N e w c a s t l e - U p o n - T y n ePolytechnic, UK.

• Dip. (Marke t ing ) , Newcast le-Upon-Tyne Polytechnic, UK.

• Over 30 years experience inmanagement and marketing.

Haji Ismett Azyze Haji A. AzyzeAdvisor, President’s Office• MEd, Brighton Polytechnic, UK.• Adv. Dip. (Education), Brighton

Polytechnic, UK.• Over 30 years experience in

education management.

Hashim AliGeneral Manager, Finance andAccounts • CIMA, UK.• More than 20 years experience

in f inance and accounting inindustr ies involved in projectdevelopment and manufacturing.

Rohizan ZainalGeneral Manager, Hotel & TourismAcademy PJ• MBA, Universiti Putra Malaysia.• BBA, ITM-Ohio University.• Dip. (Microbiology), Universit i

Teknologi MARA.• D.P.I.M, University Teknologi MARA.• More than 20 years experience

in management and banking.

Azman AhmadGeneral Manager (Acting), Schoolof Engineering, Prai• MA (Design - Computing Design),

University of Staffordshire, UK.• BA (Architecture), University of

Manchester, UK.• Adv. Dip. (Education), Universiti

Putra Malaysia.• More than 15 years experience

in teaching of technical andvocational subjects.

Haji Othman Md SallehHead of Students Development • MEd, University College Cardiff,

UK.• BA, Universiti Malaya.• More than 30 years experience

in education.

Nik Mohd Zailani Haji Nik SallehSenior Manager, Kota Bharu Branch• MBA, University of Eastern New

Mexico, USA.• BBA, University of Eastern New

Mexico, USA.• More than 15 years experience

in teaching at tert iary level,specializing in management andmarketing.

Abu Hassan Abd. RahmanManager, KL Branch• MEd, University of Northern

Arizona, USA.• BSc (Maths Computing), University

of Southern Colorado, USA.• Over 15 years experience in

teaching at tert iary level,specializing in management andmarketing.

Haji Wan Mohd Khair Wan ChikManager, Matriculation CentreLangkawi• BEd (Guidance and Counselling),

Universiti Putra Malaysia.• More than 30 years experience

in education.

Zulkifli YaacobManager, Alor Setar Branch • BA, Un i ve r s i t i Kebangsaan

Malaysia.• Over 20 years experience in

training and human resourcedevelopment.

Haji Ibrahim Tahir Manager, Johor Bahru Branch • BEd (TESL), Universit i Putra

Malaysia.• Dip. (ESL), Universiti Malaya.• Over 20 years experience in

training.

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SeniorManagement1. Dr. Yahya Mat Hassan

2. Haji Zaharuddin Haji Mahmud

3. Dr. Hussein Mahmood

4. Haji Ismett Azyze Haji A. Azyze

5. Haji Othman Md Salleh

6. Haji Ibrahim Tahir

7. Abu Hassan Abd. Rahman

8. Azman Ahmad

9. Haji Wan Mohd Khair Wan Chik

10. Hashim Ali

Not in pictureRohizan ZainalNik Mohd Zailani Haji Nik SallehZulkifli Yaacob

KUB Teknologi Sdn Bhd (KUBTek) incorporated on 21 February 1992, was established as theflagship IT company, spearheading the ICT thrust of the KUB Group. KUBTek is in the business ofproviding ICT solutions and services to the public and private sectors. To capture a fair share of theenterprise solutions software market, KUBTek has developed a suite of customized applicationsoftware and professional services.

KUBTek’s range of customized application software available are HRiX (Human Resource InformationExchange), iXVO (Information Exchange for Virtual Office) and CHRD Corporate Human ResourceDevelopment).

HRiX is a web-based Human Resource and Payroll System for the enhancement and empowermentof human resource, the intangible asset of any corporation. This software package consists of tenmodules and its advantage lies in its flexible and easily customized interfaces. iXVO is a catalyst forthe digital age, in maximizing the pervasiveness of ICT towards ensuring knowledge management.Designed exclusively for corporate Intranets, iXVO enables 100 per cent interconnectivity within agroup irrespective of geographical boundaries and time zones. CHRD is an enabler for Life LongLearning, empowering the individual with the core competencies to manage change. As an agentof change, it is a core component for the corporate e-Learning strategies for the transition into k-economy.

KUBTek’s customised professional services available for its clients include Mail Messaging Services,Multimedia Services, Web-based Application Development, System Integration, Network Servicesand Security Services.

Mail Messaging Services enables corporate wide communication and the sharing of knowledge in aborderless environment. It encompasses the designing, planning deployment and monitoringservices for the client. Multimedia Services ensures the clarity of communication and knowledge viathe convergence of technologies. It incorporates business and community portals integration to e-Commerce. Web-based Application Development customizes business processes to enhanceproductivity and profitability to meet customers’ needs. System Integration creates a one-stopcentre for the integration of solutions. It encompasses the total solution approach. NetworkServices provides the infrastructure and platform for a digital society. It encompasses the Internet,Intranet and Extranet services to support the e-Enterprise. Security Services is the enabler towardsa secure and knowledge sharing environment, offering online security for a company’s survival in thefrenetic world of e-Business.

KUBTek’s list of clients include Syarikat Air Johor, FELCRA Berhad, Malaysia Prisons Department,Survey and Mapping Department, Sistem Televisyen Malaysia Berhad (TV3) and Ministry of Land andRegional Development. KUBTek had successfully integrate the clients’ requirements in the area ofhuman resource management, asset management, ECS and Y2K compliance.

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Subsidiary Company - KUB Teknologi Sdn Bhd

Datuk Hassan HarunChairman


Dato’ Haji Ahmad Bhari Abd Rahman

Datuk Paduka Hajjah Rahmah Osman


Shabaruddin Ibrahim


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Senior Management1. Mohamed Zulkhornain Ab Ranee

2. Raduan Shariff

3. Norhalizah Mohd Nordin

Mohamed Zulkhornain Ab RaneeChief Executive Officer (Acting)• BSc (Electrical and Electronics)

Un i ve r s i t y o f S t r a t hc l yde ,Scotland.

• Mohamed Zulkhornain hasworked in the IT industry sincejoining Pernas in 1986. He hasalso worked for 2 multinationalcompanies that are activelyi n vo l ved i n t he Sys t emIntegration of ICT in the publicadministration and health careservices.

Raduan ShariffSenior Manager, BusinessDevelopment • MSc (Communication), Universiti

Putra Malaysia.• BSc (Communication), Universiti

Teknologi MARA. • Over 10 years experience in

product development, channel managemen t and s ys t em integration.

Norhalizah Mohd NordinFinance Manager• BA (Management in Finance and

Account ing ) , Un ive rs i t i Sa ins Malaysia.

• Over 11 years experience in finance and accounting.

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Subsidiary Company - Tele Dynamics Sdn Bhd

Shabaruddin Ibrahim

Tan See Tee


Chong Chok KuanExecutive Director

Tele Dynamics Sdn Bhd (TDM) was incorporated on 21 January 1981 with its principal businessactivity having evolved from product distribution to providing total business systems and solutions in ICT.

TDM is the sole distributor for Toshiba Information and Communication Systems that have integrationand connectivity capabilities to any systems or solutions in today’s business environment. TDM hasachieved the No. 1 position in market share for TOSHIBA notebook computers in Malaysia. TheToshiba Business Telephone System has proven itself to be cost effective with its upgradabilityfeature to suit the ever-changing business needs. In the area of electronic imaging systems, TDMmarkets Toshiba Full Colour Copier/Printer Systems with digital multifunction systems. In facsimiletechnology, Toshiba machines integrate the features of fax, copier, printer and scanner withworkstation connectivity and Internet faxing capability.

TDM’s business also diversified after its partnership with other renowned manufacturers such asToshiba TEC, Motorola and Siemens. Toshiba TEC provides a complete range of TEC RetailInformation Systems that support the growing needs of the retail industry. Motorola has madecommunication flexible with the wireless communication products and solutions that cater to many different industries. Siemens offers the highly flexible PBX system which meet thetelecommunication high-tech requirements of any corporation.

TDM’s success has been mostly contributed by their strong belief in Total Customer Satisfaction.This is further supported by their nationwide network of Sales & Service Centres. TDM havegroomed a pool of well trained and competent staff force that are recognised by both principals andcustomers for their world class services. These testimonies are supported by numerous serviceawards received by TDM from Toshiba Corporation, Japan.

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SeniorManagement1. Patrick Tan Chuek Hooi

2. Takashi Watanabe

3. Lee Eng Hock

4. Paul Ting Tiew Po

5. Samuel Prabhakaran s/o V. Damodara

6. Isaac Yap Ching Choi

Not in pictureSee Hut Meng

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Takashi WatanabeChief Executive Officer• Grad. (Commerce), Yokohama

Municipal Senior High School,Japan.

• Grad. (Foreign Language - Spanish),Keio Foreign Language School,Japan.

• Exchange Program, GuanayuatoState University, Mexico.

• Watanabe has 30 yea r sexperience working with ToshibaCorporation, Japan, with severalyears at senior managementposit ions in Information andCommunications Systems inMexico, Brazi l and the AsiaPacific.

Lee Eng Hock General Manager,Telecommunications and Network• Over 20 years experience in OA,

t e l ecommun i ca t i on and I Tproducts.

Paul Ting Tiew PoGeneral Manager, ElectronicImaging and Retail InformationSystems• BE (Electr ical and Electronic

Eng i nee r i ng ) , Un i ve r s i t y o fAdelaide, Australia.

• Over 14 years experience inboth sales and service of OA,telecommunication and ITproducts.

Patrick Tan Chuek HooiFinancial Controller• BComm (Business Administration),

University of Windsor, Ontario,Canada.

• Over 17 years experiences infinancial accounting management.

See Hut MengGeneral Manager, Tele DynamicsAtec Sdn Bhd• Over 20 years experience in

sales and branch management.

Isaac Yap Ching ChoiSenior Manager, Administration• Cert. (Personnel Management),

MIPM. • Over 20 years experience in

human resource managementand administration.

Samuel Prabhakaran s/o V. DamodaranSenior Manager, ElectronicImaging Systems Service• Dip. (Electr ical Engineering),

Federal Institute of Technology,Kuala Lumpur.

• Over 16 years experience intechnical services management.

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Subsidiary Company - VisionScape Sdn Bhd

Senior Management1. Shaharuman Shahadan

2. Micheal Wesley Blas

3. Muneerah Yusuf Khan

4. Norshila Idris

5. Ainalida Mohamad Jamil

6. Gogulan Dorai Rajoo

Michael Wesley BlasChief Executive Officer• MBA, Golden Gate University,

USA.• BSc, University of Southern

California, USA.• CPA, State of California. • Member, American Institute of

Certified Public Accountant. • Member, California Society of

Certified Public Accountant.• Has over 25 years senior level

management, consulting andfinance and tax experience in hightechnology, manufacturing, salesand real estate industry in USA.

Shaharuman ShahadanGeneral Manager, Operations• Adv. Dip. (Management), GTE

“U”, (GTE Inc. ManagementTraining School), Connecticut,USA.

• D i p . ( P l a n t a t i o n I n d u s t r yM a n a g e m e n t ) , U n i v e r s i t iTe k n o l o g i M A R A .

• More than 27 years experiencein integrated media publishing,and media advert ising salesmarketing operations including 7years experience in local andinternational outdoor mediaadvertising operations.

Ainalida Mohamad JamilMarketing Manager• BA (Mass Communications -

Advertising), Universiti TeknologiMARA.

• More than 10 years experiencei n m a r k e t i n g , s p e c i a l i z i n g i n i n t e g r a t e d m a r k e t i n gcommunications.

Muneerah Yusuf KhanBusiness Development Manager• BBus. (Finance), Edith Cowan

University, Western Australia.• Over 9 years experience in

business development in variousindustries.

Norshila IdrisFinance Manager• BAcctg, International Islamic

University Malaysia.• 8 years experience in audit,

finance and accounting.

Gogulan Dorai RajooSales Manager• CIM, UK• Over 8 years experience in

advert ising and media salesmanagement .

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VisionScape Sdn Bhd (VS) was first established in 1995 under the name of KUB KomunikasiKreatif Sdn Bhd (KKK). In February 2000, KKK became the vehicle of a new joint venture betweenKUB Teknologi Sdn Bhd and Octobot-APT (M) Sdn Bhd. This joint venture entity was renamedVisionScape Sdn Bhd to reflect its new core business of marketing airtime of a networked ofelectronic displays called i-Boards. VS was accorded the MSC status in December 2000.

VS offers the advertising industry a complete one-stop package, from content preparation and mediaplanning up to broadcasting on the i-Board. The i-Board technology has the unique capability to changethe display content as often as necessary. Thus, giving advertisers the option of a cost-effective medium.

To date, VS had successfully put four i-Boards in operation , two each in Kuala Lumpur and JohorBahru. VS will expand its network of displays in major town centres in Malaysia. To be a regional player,VS will also expand into other ASEAN countries, by December 2001, starting with the Philippines.

Board of DirectorsShabaruddin IbrahimChairman

James R. Schuler

Moritz Gubler

Abdullah S Abu Al Saud

Dr Mohamad Zahran Sheikh Abdul Halim


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Christopher Chew Kai ThongManaging Director• MBA, University of Strathclyde

Business School, UK.• BSc (Engineering), University of

Surrey, UK.• CDipAf.• Member, IEEE/Computer Society

USA.• Christopher Chew has 25 years

consulting, project management,and contracting work experiencein engineering, construction, oil& gas, petrochemicals, educationand ICT.

Azim HusseinSenior Manager• Adv. Dip. (Digital Electronics), Dayton

Technology University, Ohio, USA. • Over 18 years working experience with

management responsibilities in marketing, business development,sales and operations in various ICT-based corporations.

Wong Wai ChoongResearch & Development Manager• BSc (Computer Science), University

of New South Wales, Australia.• BE (Electrical Engineering), University

of New South Wales, Australia. • Over 15 years experience in software

development and R&D work.

Emmanuel BensonContent Manager• FCEA, UK • MTMA, Australia • MBA, University of Ireland• BBA, University of Ireland• 6 years experience in Internet

consultancy, specializing in contentdevelopment, material managementand documentation.

Hasnol Hassan AriffWeb Media Manager• Dip. (Graphic Foundation), Saito

Academy of Graphics Design, KL• Over 10 years experience in web

designing, web development, CADand multiMedia.

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Subsidiary Company - KUB Sistem Sdn Bhd

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Nadzru Azhari


Christopher Chew Kai Thong Managing Director

KUB Sistem Sdn Bhd (KUB Sistem) was incorporated on 14 July 1994. Its business is in theoperation of an e-Commerce Community portal, consultancy services of e-Commerce applicationsand turnkey contractors for e-Commerce projects.

KUB Sistem was accorded the MSC status in 1998. At the 1999 Anugerah Perdana Menteri, KUBSistem was a finalist in the “ Excellence in e-Commerce” category. It was chosen as the Catcha.comEditor ’s pick as the hottest site of the month for September 2000. KUB Sistem’s portal is also thepreferred e-Business Hosting Portal under the Small and Medium Industry DevelopmentCorporation‘s e-Commerce Grant programme .

In November 2000, KUB Sistem received endorsement to establish the ASEAN e-Tourism Portal(www.easeantravel.com). It will be a comprehensive information hub to promote tourism in theASEAN region and will support an integrated platform for e-Business.

In February 2001, KUB Sistem launched an e-Commerce Community portal (www.niagaone.com)focused on providing content, community and commerce. It is a gateway to two other portals (NiagaBizand NiagaHome), that serve as centres to provide a trading platform for business and personal services.

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2. Christopher Chew Kai Thong

3. Wong Wai Choong

4. Emmanuel Benson

5. Hasnol Hassan Ariff

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Subsidiary Company - KUB Telekomunikasi Sdn Bhd

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Shabaruddin Ibrahim


Ab Aziz Mohamed

KUB Telekomunikasi Sdn Bhd (KUBTel) was incorporated on 30 December 1997. The company’score business is in providing integrated solutions for telecommunications, electronics andmultimedia related business.

KUBTel’s principal business includes telecommunications network service and provider, networkmanagement, consultancy services, research and also systems engineering services. The majorproducts include Wireless Local Loop (WiLL), structured cabl ing, telecommunications /broadcasting tower and Asymmetrical Digital Subscriber Lines (ADSL).

The company has an impressive track record since its incorporation with business deals with majorcompanies in the country. Major clients include Telekom Malaysia Berhad (TMB), Putrajaya Holdingsand parent company, KUB Malaysia Berhad. KUBTel created history in year 2000 by erecting thetallest steel aesthetic monopole telecommunication tower in Putrajaya for TM Touch. It emerged asMalaysia’s largest structured cabling contractor when it secured prestigious projects with PutrajayaHoldings to provide structured cabling system for the Prime Minister ’s Department and GovernmentOffice Complexes in Putrajaya. In addition, KUBTel also provided an integrated data and voicestructured cabling, PABX and network equipment for KUB.com, KUB Malaysia Berhad’s newheadquarters.

In recognition of the company’s high sales result in 1999, KUBTel was awarded the KRONE Top 5Sales Achievement Award 2000. With its proven track record and existing capabilities, KUBTelaspires to become a premier System Integrator.

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SeniorManagement1. Ab Aziz Mohamed

2. Sazali Abd Aziz

3. Amirnuddin Kamaruddin

4. Amir Najib Ibrahim

5. Samad Baisun

6. Hashim Yaacob

7. Amran Abdul Rahman

8. Abdul Rashid Abdul Rahman

9. Mohd Razz Rozzfaisal Mohd Razali

Ab Aziz MohamedPresident• BSc (Mechanical Engineering),

University of Southampton, UK.• OND (Mechanical Engineering),

Brighton Technical College, UK.• Ab Aziz has 25 years experience

in engineering in companiesinvolved in transport, hightechnology, research anddevelopment faci l i t ies, f ixed l ine and broadband wirelesstelecommunication digital systems,oil and gas industry.

Amirnuddin KamaruddinVice-President, Fixed Telephony• BSc (Business Administration

Accounting), Drake University, USA.• Dip. (Account ing ) , Un ive rs i t i

Teknologi MARA.• More than 7 years experience in

digital telecommunications industryand 3 years experience in the oil andgas industry plus another 3 years in construction and engineeringindustry.

Samad BaisunVice-President, System Engineeringand Special Projects• BE (Civil Engineering), Universiti

Teknologi Malaysia.• More than 8 years experience in

digital telecommunications industryand over 5 years experience in theoil and gas industry.

Sazali Abd AzizVice-President, Wireless• BE (Mechanical Engineering),

George Washington University, USA.• More than 10 years experience in

telecommunications industry.

Mohd Razz Rozzfaisal MohdRazaliManager, System Engineering andSpecial Projects• BE, University of Liverpool, UK.• More than 7 years experience in

digital telecommunications industry.

Abdul Rashid Abdul RahmanManager, Finance• MBA, Un ive rs i t i Kebangsaan

Malaysia.• Adv. Dip. (Accountancy), Universiti

Teknologi MARA.• Member, MIA.• More than 15 years experience in

banking and over 5 years experiencein digi ta l te lecommunicat ionsindustry.

Amran Abdul RahmanManager, Business Development• Adv. D ip . (Bus iness Stud ies -

Marketing), Universiti TeknologiMARA.

• Dip. (Business Studies),UniversitiTeknologi MARA.

• More than 10 years experience inthe telecommunications industry.

Amir Najib IbrahimManager, Human Resource andAdministration• BA (Social Policy and Administration),

Leeds Metropolitan University, UK.• More than 7 years experience in

digital telecommunications industryand 3 years experience in standbypower industry.

Hashim YaacobChief Engineer• MSc (Electronics), University of

Wales, UK.• BSc, Un ive rs i t i Kebangsaan

Malaysia.• More than 10 years experience in

telecommunications specializing inresearch and development.

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Dato’ Mohd Noor YusofChairman

Takemichi Matsuno

Katsuro Hashimoto

Dr. Engku Mohd Anuar Engku Wook Abdul Rahman

Mohamed Othman

Shabaruddin Ibrahim


Shoichi KutsukakeManaging Director

Ab Aziz MohamedExecutive Director

Amirnuddin Kamaruddin

KUB-Fujitsu Telecommunications (Malaysia) Sdn Bhd (KUB-Fujitsu) was incorporated on 28 July 1992. The company is jointly owned by KUB Malaysia Berhad, Fujitsu Limited and MarubeniCorporation. KUB-Fujitsu’s business focus is in manufacturing of telecommunications and electronicproducts and provision of engineering and support services.

KUB-Fujitsu’s principal business is the installation, operation and maintenance of Fetex 150Switching System. Most of the company’s large scale projects are in the supply of the digitaltelephone switching equipment and related engineering maintenance services. Other businesscapability is in contract manufacturing of PCB assembly, cable termination, electronic equipmentand wire harness. The equipment used for assembly and testing are calibrated in line with thecompany’s ISO 9002 standards. KUB-Fujitsu’s history of PCB contract manufacturing started since 1995 with Fujitsu Switching Division in China being one of the company’s biggest customersin PCB assembly.

KUB-Fujitsu introduced a web based customer support for operation and maintenance oftelecommunication exchanges in an effort to upgrade quality in customer service. It is alsoembarking in the management and maintenance of the Fetex 150 Switching System on initiatives toenhance its efficiency . In 1996, KUB-Fujitsu started its PCB Repair Centre which has the capabilityof repairing telecommunication cards and electronic PCB.

On 2 October 2000, KUB-Fujitsu closed a deal worth RM29.7 million with Telekom Malaysia Berhadto supply and provide engineering services for the digital telephone switching equipment. Since itsinception in 1992, KUB-Fujitsu also designed and built both fixed and mobile telecommunicationnetworks for Somatel in Mogadishu, Somalia.

KUB-Fujitsu aims to be the premier manufacturer of leading-edge telecommunication systems.

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Subsidiary Company - KUB Fujitsu Telecommunications (Malaysia) Sdn Bhd

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SeniorManagement1. Shoichi Kutsukake

2. Ab Aziz Mohamed

3. Amirnuddin Kamaruddin

4. Alias Ismail

5. Marzuki Ariffin

6. Abdul Rashid Abdul Rahman

7. Amir Najib Ibrahim

Shoichi KutsukakeManaging Director• BE, (Electrical), Chiba University,

Japan.• Ku tsukake has ex t ens i ve

experience in the areas ofsoftware for digital switchingsystems and has served atsenior level positions in FujitsuLimited in Japan, Singapore andLatin America. He has 5 patentsto his credit in the area of datacontrol systems.

Ab Aziz MohamedExecutive Director

Amirnuddin KamaruddinGeneral Manager

Abdul Rashid Abdul Rahman Manager, Finance

Amir Najib IbrahimManager, Human Resource andAdministration

Alias IsmailManager, Operations• Dip. (Mechanical Engineering),

Ibaraki National Col lege ofTechnology, Japan.

• D ip . ( J apanese Language ) ,International Student Institute, Tokyo, Japan.

• More than 8 years experience in digital telecommunicationsindustry and 4 years experience in semi-conductor manufacturingindustry.

Marzuki AriffinManager, Marketing• BSc (Business Administration),

Drake University, USA.• D ip . (Ho te l Ca te r i ng and

Management), Universiti TeknologiMARA.

• More than 5 years experience incontract manufacturing work andover 4 years experience in theconstruction industry.

Naharudin AliChief Executive Officer• FCCA, UK.• Member, MIA.• Naharuddin has worked in MNCs and local conglomerates

that are involved in telecommunications, chemicaland property development at senior level positions infinance and business development.

Annas BahariFinance Manager• BComm, University of New South Wales, Australia.• CPA Australia.• Member, MIA.• Over 7 years experience in finance, accounts management

and audit.

Nelson Suah Wai MungManager, Sales & Marketing • HSC, Tunku Abdul Rahman College.• 20 year experience in sales and marketing of Honda

automobiles and car accessories.

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Subsidiary Company - Cybertrek (Malaysia) Sdn Bhd

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Senior Management1. Naharudin Ali

2. Nelson Suah Wai Mung

3. Annas Bahari

Datuk Ruhanie Haji AhmadChairman

Dato’ Ishak Abdul Hamid

Tuan Haji Rosdi Saad


Ab Aziz Mohamed

Cybertrek (Malaysia) Sdn Bhd (Cybertrek) was established in 1995. On 24 August 2000, KUBTelekomunikasi Sdn Bhd acquired a controlling stake in Cybertrek. The business focus has been inthe provision of technology-based solution to the transport and automotive industry. The productintroduced by Cybertrek in 1996 was the electronic ticketing system for stage buses. The companynow has the rights to the technology to locate and immobilize stolen vehicles using a combinationof wireless communication signals.

Cybertrek’s product, under the brand name CHECKMATE, has the unique capability to immobilizeand locating, thus making the process of recovering the stolen vehicles more effective and speedily.Unlike the conventional satellite GPS, the CHECKMATE system does not require line of sight and iscapable of locating vehicle even if it is in a building, under bridges or trees. Through the use of hand-held tracking devices, the recovery team is able to zoom-in and locate the stolen vehicle evenafter the vehicle has been repainted or swap with false number plates. The recovery processcommences as the CHECKMATE’s Control Centre located on the 15th floor of KUB.com is linked topolice stations nationwide, via the Police Command Centre at Bukit Aman.

CHECKMATE’s other features and options include the capability to lock and unlock car doors,activate alarm mode and a panic button that will automatically alert the Control Centre in the eventof a hijacking or distress situation. Once activated the tracking process will commence immediately.

CHECKMATE is available at more than 300 car accessory outlets throughout the Klang Valley. AnInstallation Centre at the Highway Centre located on the Federal Highway has begun operations.

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Subsidiary Company - Utama Steel Works Sdn Berhad

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Utama Steel Works Sdn Berhad (USW) was incorporated on 14 December 1982. KUB owns 51per cent stake in the company. USW started operations in November 1985 to manufacture andsupply of steel pipes for industrial use. The company's core products include welded steel pipes,related fittings and fabricated metal.

USW operates from its plant located in Kampung Bercham Industrial Estate, Ipoh. It is able toproduce 42 pieces of 1000mm N/D (nominal diameter) pipes per day and 38 pieces of 1200mmN/D per day based on 10 hours of production.

USW has a list of several successfully completed projects. The projects undertaken by thecompany involved the supply of mild steel pipes and special metal fabrication for water supplyprojects for Jabatan Kerja Raya Malaysia, Lembaga Air Perak and Lembaga Wilayah Jengka. InDecember 1992, USW supplied mild steel air duct to Perbadanan Kemajuan Negeri Selangor for theShah Alam Sports Complex. Among the bigger projects that USW has completed was supplyingsteel pipes to Konbina Enterprise Sdn Bhd for the Kuala Lumpur International Airport (KLIA) Phase Iand II Projects.

USW has also manufactured pipes for the Cheras-Kajang-Beranang Water Distribution Project forJabatan Bekalan Air Selangor and Paip Utama Hilir Perak Project for Lembaga Air Perak.


Ruslan Hassan

Ibrahim IsmailAlternate to Ruslan Hassan

Mohd Noor Omar

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Ahmad Johari KassimGeneral Manager• BSc (Biology), Universiti Sains Malaysia.• Ahmad Johari started his career as a

teacher before switching to Goodyearwhich manufactures tyres. He later joinedALCOM, a manufacturer of aluminiumproducts. His experience includes bothstaff and line functions.

Wan Mohd Azeelan Haji AdnanSenior Manager, Finance & Administration• BAcctg., Universiti Kebangsaan Malaysia.• Registered Accountant, MIA.• Wan has more than 10 years experience in

f inance and business development ininvestment holding and manufacturingcompanies.

Senior Management1. Ahmad Johari Kassim

2. Wan Mohd Azeelan Haji Adnan

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Subsidiary Company - Bina Alam Bersatu Sdn Bhd

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Dato’ Siah Teong BoonManaging Director

Hajjah Khatijah Md Som


Hanim LahamExecutive Director

Tye Yoon Hay @ Tai Yoon Hee

Incorporated on 19 March 1980, Bina Alam Bersatu Sdn Bhd (Bina Alam) is a subsidiary of KUBMalaysia Berhad through a 55 per cent equity held by KUB Ekuiti Sdn Bhd. Bina Alam is theconstruction arm of KUB Malaysia Berhad.

From its humble beginning, Bina Alam has now grown to become a major player in the constructionindustry. It is a registered Class A Contractor with Pusat Khidmat Kontraktor (PKK) and has a G7 gradewith Construction Industry Development Board of Malaysia (CIDB).

To date, Bina Alam has completed many projects worth approximately RM 840 million in the building(highrise, residential, hotels resorts, industrial factories, schools and training institutions), civilengineering works in infrastructure sectors. A prominent building built by Bina Alam is the KualaLumpur Stock Exchange (KLSE), which was completed in 1997. Befitting the occasion, KUB MalaysiaBerhad’s debut as a listed entity was the first company to be listed on KLSE’s Main Board from thenew building that was completed by its own subsidiary. The most recent accomplishment was theKomplek Institut Latihan Perindustrian (ILP) in Kota Samarahan in Kuching, Sarawak for the Ministry ofHuman Resource of Malaysia on a Design and Build Concept.

In synergy with its construction activity, Bina Alam has also ventured to become a property developer.Among the major development projects in the company’s pipeline now are the proposed mixeddevelopments in Kg. Sungai Serai, Rawang, Selangor and also in Tronoh, Perak. Bina Alam, throughits subsidiaries, has a total of approximately 1,700 acres of landbank in Perak and Johor.

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SeniorManagement1. Zulkifli Mohd Tahir

2. Hanim Laham

3. Dato’ Siah Teong Boon

4. Lam Siew Leong

5. Lim Kean Ghee

6. Nazran Haji Abdullah

7. Datin Teoh Bee Woon

8. Tina Tan

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Dato’ Siah Teong BoonManaging Director• BE (Civi l), Monash University,

Australia.• Da to ’ S i ah has ex t ens i ve

experience in managing propertydevelopment and constructionof integrated housing estates,high rise buildings, hotels andresorts.

Hanim LahamExecutive Director• BSc (Engineering), New Mexico

State University, New Mexico,USA.

• She has vast experience inadministration of projects worthin excess of RM300 million.

Datin Teoh Bee WoonLegal Matters & Banking• BA (Ecology), Universiti Malaya.• Dip. (Education), Universiti Malaya.• Actively involved in development and

investment holdings for the past 20years.

Zulkifli Mohd TahirGeneral Manager, Public Relations &Site Management• BSc (Building Economics - Quantity

Surveying), South Bank Polytechnic,UK.

• Dip. (Building Economics - QuantitySurveying), Universiti TeknologiMARA.

• Over 20 years experience as aprofessional Quantity Surveyor.

Lim Kean GheeFinance Controller, Accounts &Finance• Dip. (Accounting), MAP/Western

Australian Institute of Technology,Australia.

• Affiliate Member, Association ofInternational Accountants.

• Over 20 years of work experience inCost and Management accounting,finance and budget.

Tina TanInternal Auditor• Fellow Member, ACCA UK.• Fellow Member, MIA.• Over 17 years extensive experience

in accounting, auditing, secretarialpractice and corporate advisory.

Lam Siew LeongManager, Business Development• BA (Public Administration), De

Monfort University, Leicester, UK.• Dip. (Business Studies), Sunderland

College of Further Education, UK.• 18 years diverse experience in the

civil service (in United Kingdom),marketing, manufacturing, propertydevelopment and construction andproject management.

Nazran Haji AbdullahManager, Business Development• Dip. (Planting Industry Management),

Universiti Teknologi MARA.• Associate of the Incorporated

Society of Planters.• Certificate in Natural Rubber Planting

Management and Processing,Rubber Research Inst i tute ofMalaysia.

• Over 17 years experience inEstate/Plantation Management.

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Subsidiary Company - KUB Prasarana Sdn Bhd

Azman AhmadChief Executive Officer• BSc (Electrical and Electronics Engineering),

California State University, USA• Registered Professional Engineer, Board of

Engineers, Malaysia• Corporate Member, Institution of Engineers,

Malaysia. • Azman was previously in Sarawak Shell Berhad

as the lead instrumentation/project engineer forthe onshore Bintulu MLNG-Dua gas supplyproject.

• Joined as General Manager, KUB-Tis ControlsSdn Bhd before being appointed to presentposition.

Mohd Habali ShahidanManager• Dip. (Business Studies), Universiti Teknologi

MARA• Fellowship - Economic Development Institute of

the World Bank• He was project evaluation officer of MIDF for 10

years where he was involved in projects fundedby World Bank in power transmission andproduction of bio-gas.

Rahim Kamil Sulaiman Dato’ Khalid Abdul Rahim

KUB Prasarana Sdn Bhd (KUB Prasarana) was incorporated on 4 November 1996. KUBPrasarana’s core business is in the construction and management of infrastructure developmentprojects, such as road and highway construction, industrial plants and utility facilities.

KUB Prasarana’s primary competency is in the area of project and contract management, projectstructuring and funding. Since its inception, KUB Prasarana has built strategic alliances with variouspartners which include contractors, engineering consultants, procurement and logistics experts toundertake the infrastructure and engineering projects.

In 1999, KUB Prasarana was appointed by KMAK JV as project managers, to undertake a contractto up-grade the Kuala Kangsar-Sauk Road, awarded by Jabatan Kerja Raya worth RM179.2 million.KUB Prasarana commenced work on its portion of the project, worth RM17.9 million (10 per cent ofproject value) in November 1999, and this is expected to be completed by 2002.

KUB Prasarana was the project manager for Phase II of the Hotel Singgahsana PJ’s refurbishmentworks. KUB Prasarana will continue to manage the re-development project of Phase III of HotelSinggahsana. It is also undertaking the refurbishment project for Insitut Perhotelan dan Pelancongan(IPP), ITTAR, Petaling Jaya.

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2. Mohd Habali Shahidan

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Subsidiary Company - KUB Power Sdn Bhd

KUB Power Sdn Bhd (KUB Power) was incorporated on 17 March 1992 under the name BinaWilayah Sdn Bhd, which was later changed to its current name on 30 January 1996. The company'score business is in the local power utility industry, covering activities such as substation andtransmission line construction, supply and installation of electrical infrastructure and maintenance ofelectrical plants.

The company's main client is Tenaga Nasional Berhad (TNB). KUB Power is TNB’s HV/LV electricalinstallation contractor. In December 2000, KUB Power was awarded two contracts by TNB, namelythe TNB Janamanjung Power Plant package 005 and TNB contract 802700. The Janamanjungproject involved the erection, testing and commissioning of the 500kV switchyard; and the Contract802700 project involved the installation and commissioning of 33 kV XLPE cables for power supplyto Muda Paper Mills, Penang.

With an established record with TNB, KUB Power is looking at a long-term relationship and securingmore contracts with TNB. Upon successful completion of the Janamanjung project, KUB Power isone of only two contractors having completed a 500 kV erection project in Malaysia.

KUB Power has also completed several projects for the KUB Group of Companies that includesupplying and installing power wiring for UNITAR Study Centre in Kelana Jaya. KUB Power iscurrently undertaking electrical infrastructure works for ITTAR and Singgahsana PJ.

Datuk Paduka Hajjah Rahmah Osman Rahim Kamil Sulaiman

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Hasbullah Haji Abd Jalil Deputy General Manager• Post Grad. Dip.(Business Administration), Swansea Higher

Institute of Education UK.• Adv. Dip (Business Management), Swansea Higher Institute of

Education, UK.• Dip.(Business Management), Swansea Higher Institute of

Education, UK.• Dip.(Civil Engineering), Politeknik Kuantan.• Hasbullah has 15 years experience in the power industry

especially in maintenance and installation of electricalinfrastructure.

Senior ManagementHasbullah Haji Abd Jalil

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Subsidiary Company - KUB Development Berhad

Dato’ Ahmad Bhari Abd Rahman

Datuk Paduka Hajjah Rahmah Osman


Dato’ Khalid Abdul RahimExecutive Director

KUB Development Berhad (KUBD) incorporated on 15 February 1984 is principally involved inproperty development and related businesses such as contracts and project management.

KUBD has successfully completed several projects. Among them are Phase 1,2,3,4 and 5A ofTaman Bersatu Rawang, which involved the construction of 265 units of double storey low costhouses, 241 units of single storey terrace houses, 64 units of single storey medium cost houses,81 units of double storey medium cost houses and 47 units of double storey shophouses valued atRM61 million.

KUBD has also successfully undertaken the project management for the construction of a 70-roomSinggahsana Hotel and the adjoining School of Hotel and Tourism Management in Langkawi, Kedah.KUBD recently launched the Taman Kasih Project, Cheras in Kuala Lumpur valued at RM23 millionand Taman Bersatu Rawang Phase 5B valued at RM14 million.

Future business development includes projects in Bukit Jalil Integrated Development valued at RM 670 million, Kuala Ketil, Kedah Mixed Development valued at RM87 million and projectmanagement of Mixed Development Project in Sungai Petani, Kedah valued at RM135 million,Housing Development Project in Kota Bharu valued at RM10 million and the Mixed DevelopmentProject in Negeri Sembilan valued at RM260 million.

The company is also at the planning stage of various developments in Sungai Buloh, Selangor; Ulu Serting, Negeri Sembilan; Sungai Petani, Langkawi and Baling, Kedah.

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2. Ms Chong Ching Wai

3. Mohd Dom Abdullah

4. Hassan Osman

5. Dato’ Khalid Abdul Rahim

Not in pictureJaafar Sedek

Dato’ Khalid Abdul RahimExecutive Director• Cert. (Production Planning and

Costing).• Dato’ Khalid started his career as a

Chemist in a manufacturing companyand later switched to trading andconsultancy. Has has also served asa Town Councillor in MPKB and was the Chairman of the BuildingCommittee.

Mohd Dom Arang Bilong AbdullahGeneral Manager• Adv. Dip. (Civil Engineering),

Universiti Teknologi MARA.• More than 23 years experience

in property development andconstruction.

Choo Tak MinHead of Finance & Accounts• CIMA UK.• Registered Accountant, MIA.• 20 years experience in property

development and construction.

Hassan OsmanSenior Manager, Corporate Services• LLB, University of East London, UK.• Barrister at Law, Lincoln’s Inn.• 7 years experience as a practicing

lawyer and 3 years experience inproperty development.

Jaafar SedekProject Manager• BE (Civil Engineering), Middlesex

Polytechnic London, UK.• Dip. (Civil Engineering), Universiti

Teknologi Malaysia.• 19 years experience in construction

and consultancy and 5 yearsexperience in property development.

Chong Ching WaiManager, Sales & Marketing• Dip. (Building Technology), Tuanku

Abdul Rahman College.• Cert. CIM UK.• 3 years experience in construction

and 10 years experience in propertydevelopment.

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Subsidiary Company - KUB Realty Sdn Bhd

Datuk Rizuan Ab HamidChairman

Dato’ Khalid Abdul Rahim


KUB Realty Sdn Bhd (KUB Realty), incorporated in August 1996, is primarily engaged in themanagement and maintenance of real estate and properties of the KUB Group and property managementconsultancy services.

The company completed the renovation and fitting-out works for KUB.com, the new headquartersfor KUB Malaysia Berhad, which is equipped with state-of-the-art ICT infrastructure. This forms thebackbone that connects KUB.com to other information networks world wide via high-speed fibreoptics with broadband capabilities. KUB Realty was also the Project Manager for the refurbishmentworks of Hotel Singgahsana PJ and Langkawi, Matriculation Centre ILP in Prai, Penang and UNITARStudy Centre in Kelana Jaya, Selangor. KUB Realty has a proven track record as project managersfor fitting-out works for buildings requiring ICT infrastructure.

In line with it’s aim of becoming a leading real estate and property management consultant, KUBRealty is implementing suitable corporate governance programmes and hopes to complete theISO 9000 certification in 2001.

Board of Directors

Subsidiary Company - Peraharta Sdn Bhd


Dato’ Khalid Abdul Rahim


Haslina Jalaluddin

Haji Jaafar Mohd Wazir

Peraharta Sdn Bhd (Peraharta) was incorporated in October 1974. The company is primarilyengaged in the property management and building maintenance of all KUB’s assets in Perak.Peraharta owns approximately RM 30 million worth of completed buildings in Perak, including the 13storey Bangunan Sri Kinta in Ipoh and the 4 storey Wisma Gerik in Gerik. Peraharta manages andmaintains over 400,000 sq feet of commercial and office spaces in Perak.

The property management and building maintenance carried out by the company includes:• Internal and external cleaning services • Mechanical, electrical and plumbing maintenance works • Termite and pest control • Internal and external landscaping• Car park management• Leasing and tenancy negotiation

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KUB Realty Sdn Bhd

2. Mior Azhar Haji Mior Mohd JunidPeraharta Sdn Bhd

Haslina JalaluddinGeneral Manager• Post Grad. Cer t . (Marke t ing ) ,

Un i ve r s i t y o f Wes tm ins t e r,London, UK.

• Dip. (Quantity Surveying),Universiti Teknologi MARA.

• Haslina has 18 years experiencei n t he f i e l d o f p rope r t ymanagement and developmentas well as construction.

Mior Azhar Haji Mior Mohd JunidManager• BBA (Finance), Universiti Teknologi

MARA.• Dip. (Accountancy), Universit i

Teknologi MARA.• Mior Azhar has 12 years experience

in housing development, propertyma i n t enance and bu i l d i ngmanagement.

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Subsidiary Company - KUB Tekstil Sdn Bhd

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KUB Tekstil Sdn Bhd (KUB Tekstil) was incorporated on 15 November 1995. KUB Tekstil's corebusiness is in the manufacturing of high quality garments. The company operates from its plant, builtin 1996 and is situated on 3.3 acres of land in Pengkalan Chepa Industrial Estate Phase II, KotaBharu, Kelantan.

KUB Tekstil started as a contract manufacturer of sportswear, tracksuits, outerwear and wind jacketfor world renowned names such as Adidas, Nike, Timberland, GAP, Umbro, JC Penney andOarsman proving the company's capabilities to deliver high quality products for the export market.

The expertise gained from manufacturing garments for world famous brand names, proved to bebeneficial to the company when KUB Tekstil introduced Canggih, the company's own brand namefor a full range of school uniforms and sportswear. Through modern technology, Canggih hasbrought quality and style to school uniforms. KUB Tekstil later ventured into manufacturing its ownsportswear for the young generation, under the brand name Canggih Arena. The company is now atthe final stage of releasing its own Canggih kidswear and casual wear.

KUB Tekstil's vision for the future is to position Canggih as a premier brand name and to establishthe company's image as a leading garment manufacturer.

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SeniorManagement1. Abdullah Haji Mahmood

2. Baharuddin Harun

Not in pictureHashim Isa

Abdullah Haji MahmoodGeneral Manager• Dip. (Institutional Management), Universiti Teknologi

MARA.• Abdullah started his career in marketing of educational

materials. Later he worked at Gas Pantai Timur which isinvolved in manufacturing and distribution of gas forindustry and hospitals.

Baharuddin HarunSenior Manager, Operations • Dip. (Mechanical Engineering), Universiti Teknologi

MARA.• Over 20 years experience in garment manufacturing

including overseas stints in Korea and Japan.

Hashim Isa Marketing Manager • LLB, Universiti Kebangsaan Malaysia.• MBA, Stirling University, Scotland.• More than 8 years working experience in marketing,

business development, corporate planning and legal.

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Subsidiary Company - KUBTrus Sdn Bhd

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Datin Teoh Bee Woon



Md Fauzi Said

KUBTrus Sdn Bhd (KUBTrus) is 73.5 per cent owned by KUB Ekuiti Sdn Bhd, a subsidiary of KUBMalaysia Berhad. It was incorporated on 17 August 1992 and was formerly known as Shopped’KUB Sdn Bhd. The principal activity of KUBTrus is in the distribution of consumer products by wayof selling direct through a network of distributors. With an elaborate network of distributors andstockists spread throughout the country, KUBTrus is able to provide access of point of sales.

KUBTrus is currently marketing various product range, with special emphasis on health supplement,beauty and skincare, personal care and household products, under various brand names such asGamatrus, Trus Health, Seri Nita, Miraclear, Harumi, Brite and Trusware. New product range will beintroduced continuously in the coming years. With the collaboration of researchers from local andoverseas institutions of higher learning, KUBTrus offers a wide range of food supplement derivedfrom the extracts of sea cucumber (gamat) and herbal concoction from locally sourced plants andherbs. Gamat-based products continue to be the best selling range.

KUBTrus will intensify efforts towards customer service excellence and continuous improvement ofsupply chain management and distribution of products to facilitate and enhance services to and forthe network of stockists and distributors. In tandem with the development of e-Commerce, KUBTrushas also established a website for easy access by distributors and stockists, which will enhanceexcellent customer support services. The company will be making significant investment in ICT asan enabler to facilitate the business processes.

Rahim Kamil SulaimanInterim Chief Executive Officer

Aminuddin AhmadGeneral Manager, Corporate Affairs• BSc (Business Administration - Accounting), University of

Southwestern Louisiana, USA.• Over 11 years of experience in various positions in financial

and managerial accounting, operations review, corporateplanning and corporate finance.

Roslan Ab Hamid General Manager, Marketing & Distribution• BSc, Universiti Kebangsaan Malaysia.• Over 10 years experience in network and channel marketing

of household and healthcare products.

Senior Management1. Rahim Kamil Sulaiman

2. Roslan Ab Hamid

Not in pictureAminuddin Ahmad

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Subsidiary Company - KUB Gas Sdn Bhd

Idris Abd. RahmanGeneral Manager• BA (Mathematics and Economics),

Drew University, New Jersey,USA.

• Idris started his career in ESSOmainly in marketing of oil andgas. He was briefly posted toEurope where he was involved inthe redesigning of retai lbusiness operation for Beneluxaffil iates.

Zahari MajidManager, Logistic & Administration• Adv. Dip. (Business Administration),

Universiti Teknologi MARA.• 18 years experience in retai l

marketing and sales of oil and gas.

Roslan Abdul RahmanManager, Finance• Adv. Dip. (Accountancy), Universiti

Teknologi MARA.• Member, MIA.• More than 15 years experience with

various companies involved inbanking, investment holding andtransportation.

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Board of Directors

KUB Gas Sdn Bhd (KUB Gas) was incorporated on 10 March 1992. The company's core businessis in the marketing and distribution of bottled LPG (liquefied petroleum gas), to both domestic andindustrial users. The distribution of the product is mainly carried out via a network of dealers, mainlyBumiputera entrepreneurs.

KUB Gas commenced operations in the Northern Region with market entry into Kedah, Penang andNorthern Perak, starting with 10 dealers. This was followed by market entry into the Central Region(Kuala Lumpur and Selangor) and Southern Region (Johor) in July 2000 with 5 and 6 dealersrespectively. To date, KUB Gas has a total of 41 dealers.

KUB Gas plans to double the number of dealers in more areas, concentrating mainly in the westcoast of Peninsular Malaysia, which represents more than 60 per cent of the total Malaysian market.KUB Gas also plans to operate its own plant at Pulau Indah in Kelang, Selangor by year 2002.

Shabaruddin Ibrahim Rahim Kamil Sulaiman

Senior Management1. Idris Abd Rahman

2. Zahari Majid

3. Roslan Abdul Rahman

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57

Subsidiary Company - KUB Singgahsana (PJ) Sdn Bhd

KUB Singgahsana (PJ) Sdn Bhd (Hotel Singgahsana) was incorporated on 7 August 1996. Itsprincipal business is to operate and manage two boutique hotels. One is located in Petaling Jaya,Selangor, the heart of Malaysia's vibrant industrial district. The other hotel is in Pulau Langkawi, thecountry's premier tourism island-city and haven. Besides operating as a hotel, it also providespractical training to students in the finer points of the hospitality business. Adjoining to this hotel isa Training Academy for the same purpose.

Hotel Singgahsana, PJ carried out extensive renovation to its Food and Beverage outlets andkitchen facilities. The hotel can now accommodate 800 people for a sit down dinner. The hotel alsocarried out renovations to the function rooms and installed state-of-the art convention facilities.Phase III of the hotel's upgrading work will involve renovation of the guests rooms.

Hotel Singgahsana, Langkawi, a new KUB property completed in 1996, is located very near to theLangkawi International Airport. It had played host to many guests and visitors to the island. It hadextended its services to visiting dignitaries and businessman during special events held in Langkawilike the Langkawi International Maritime and Air Show (LIMA), the world class cycling event - Le'Tourde’Langkawi, Langkawi International Dialogue (LID) and other major events.

In 1998, the company was also awarded the contract to provide housekeeping services to theCommonwealth Games Village during SUKOM '98.

Rahim Kamil Sulaiman Md Fauzi Said

Board of Directors

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Wan Mohd Tahiruddin Wan Mohd ZainExecutive Assistant Manager• MSc (Hospitality Administration), Johnson and

Wales University, USA.• BSc (Hotel and Restaurant Administration),

Oklahoma State University, USA.• Dip. (Chef Training), Universiti Teknologi MARA.• Dip. (Hotel Management), SHATEC, Singapore.• Cert. (Hotel and Restaurant Services), Universiti

Teknologi MARA.• Cert. (Food Service), National Productivity Centre• 20 years experience in hotel management

including a few years overseas experience inJapan and United States.

Mazlan Omar Food & Beverage Manager • More than 10 years experience in hotel food and

beverage administration and operations.

Mohd Adnan Mohd YusofResident Manager, (Langkawi)• 30 years experience in hotel administration and

catering operations.Senior Management1. Wan Mohd Tahiruddin Wan Mohd Zain

2. Mohd Adnan Mohd Yusof

3. Mazlan Omar

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Board of Directors

KUB Agrotech Sdn Bhd (KUB Agrotech) was initially incorporated on 5 May 1979 underthe name Ladang KUB-KEB Sdn Bhd. On 7 September 1994, the name was changed to KUBAgrotech Sdn Bhd. The company’s core business is in plantation management and developmentof oil palm plantations.

KUB Agrotech owns and manages two oi l palm plantat ions in Johor with a combinedtotal area of 2,660 hectares. These estates produced 24,000 metric tonnes of oil palm freshfruit bunches (FBB) in year 2000.

Besides the plantat ions in Johor, KUB Agrotech also manages 4,640 hectares of oi lpalm plantation in Mukah, Sarawak through a joint venture company, KUB Sepadu SdnBhd (KUB Sepadu). KUB Agrotech holds a 60 per cent stake in KUB Sepadu. To date, 2,500hectares of the land in Mukah has been ful ly planted, of which 500 hectares arematured and producing approximately 10,000 metric tonnes of FBB annually. KUB Sepadu’sestate in Mukah will be fully planted by mid-year 2002.

KUB Agrotech is planning to construct its own mill in Mukah, Sarawak to process FBB for theproduction of crude palm oil.




Ali Hassan Che Mat

Subsidiary Company - KUB Agrotech Sdn Bhd

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Ali Hassan Che MatGeneral Manager• MMgt, AIM, Manila.• BAgribusiness, Universiti Putra

Malaysia.• Dip. (Agr icu l tu re ) , Un ive rs i t i

Putra Malaysia.• Ali served RISDA at senior level

between 1974 to 1983. In 1993he joined KUB to spearhead theplantation sector.

Tong Kim SengSenior Manager, Plantation• BAgric, Universiti Putra Malaysia.• Over 20 years exper ience in

plantation management with 5 yearsexperience as an Estate Managerwith Kumpulan Emas Berhad.

Jaafar MadonManager, Corporate Services• BAgric, Universiti Putra Malaysia.• Member, ISP.• 13 years related experience in

plantation industry with 4 yearsestate management experience withIsland and Peninsular Bhd and 2years with FELDA Corporation SdnBhd.

Zaini Mohd TambahEstate Manager, Plantation• Dip. (Agriculture), Universiti Putra

Malaysia.• 16 years related experience in

plantation management.

Mimi Aisyah Chye AbdullahManager, Finance• MBA (Finance), Charles Sturt

University, Australia.• BComm, Melbourne University,

Australia.• Member, MIA.• Australian Society of CPA.

• Over 10 years experience in auditing,corporate finance and managementconsultancy.

Mohd Rohim RamliEstate Manager• Dip . (P lan t i ng I ndus t r y and

Management)., Universiti TeknologiMARA.

• Member, ISP.• 18 years experience in plantation

industry with several years workingexperience with Socfin Bhd, SawiraSdn Bhd and PORIM.

Azman HarunEstate Manager, Plantation• BAgric.Sc, Universiti Putra Malaysia.• Member, ISP.• 15 years experience in plantation

industry with 4 years experience atPlantation Agencies Sdn Bhd and 8years experience at Youk CahoPlantation.

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SeniorManagement

1. Ali Hassan Che Mat

2. Tong Kim Seng

3. Jaafar Madon

4. Mimi Aisyah Chye Abdullah

5. Zaini Mohd Tambah

6. Azman Harun

7. Mohd Rohim Ramli

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Corporate Diary Year 2000

Datuk Hassan Harun presenting the Piagam FormulaMalaysia to the Prime Minister, YAB Dato’ Seri DrMahathir Mohamad during the Formula MalaysiaAwards Ceremony on 1 November.

Datuk Hassan Harun and the Board of Directors duringKUB Malaysia Berhad’s 35th Annual General Meeting.

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Minister of Energy, Communications and Multimedia,YB Dato ’ Amar Leo Moggie, being briefed oncourseware development at United Multimedia duringhis visit to KUB.com on 10 November.

Minister of Education, YB Tan Sri Musa Mohamedlaunching UNITAR’s MUET Courseware on CD formaton 21 July.

Deputy Minister of Finance, YB Dato’ Chan KongChoy, visit ing the KUB Group of Companies ’Exhibition Booth during the Multimedia Asia 2000 atPWTC.

Trade visitors at KUB Group of Companies’ ExhibitionBooth during the Multimedia Asia 2000 at PWTC.

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12161

Prime Minister, YAB Dato’ Seri Dr Mahathir Mohamadis taken on a tour of Cybertrek (Malaysia) Sdn Bhd onthe 15th floor of KUB.com on 9 September.

Prime Minister, YAB Dato’ Seri Dr Mahathir Mohamadwitnessing the signing ceremony for a Memorandum ofUnderstanding between UMM and Sun Microsystem(M) Sdn Bhd and between UNITAR and SAP.

UNITAR ’s part icipation during the International Seminar on e-Education & e-Training in the NewCentury (ISET 2000).

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Minister of Education, YB Tan Sri Musa Mohamedalong with Tan Sri Ghazali Shafie during the officiallaunching of Seminar Formula Malaysia.

Prime Minister, YAB Dato’ Seri Dr Mahathir Mohamadvisiting VisionScape Sdn Bhd’s i-Board Control Roomon the 15th. floor of KUB .com after the officialopening of KUB.com on 9 September.

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Employee and Community Relations Year 2000

Staff and students of ITTAR Prai doing their part during aBlood Donation Campaign.

A Silat demonstration during ITTAR Prai Carnival.

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3 Delegates attending the Commonwealth of Learning (COL)meeting visiting UNITAR’s Study Centre at Kelana Jaya on 6March.

A dikir barat performance during KUB Group of CompaniesHari Raya Open House in Hotel Singgahsana, Petaling Jaya.

Datuk Hassan Harun presenting ITTAR Langkawi’s EmployeeExcellence Award.

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12163

UNITAR students and United Multimedia’s staff taking a rareopportunity to be photographed with the Prime Minister, YABDato’ Seri Dr Mahathir Mohamad and Datuk Hassan Harunafter the official opening of KUB.com on 9 September.

Datuk Hassan Harun giving duit raya to orphans at KUBGroup of Companies Hari Raya Open House.

The contest winners of Kempen Formula Malaysia having arare opportunity of being photographed with the PrimeMinister, YAB Dato’ Seri Dr Mahathir Mohamad after the prizegiving presentation during the Formula Malaysia AwardsCeremony on 1 November. Congratulations to allwinners.

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The patriotic and elegant ITTAR Langkawi’s contingent at theNational Day Parade.

Datuk Hassan Harun and visitors to KUB.com.

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Analysis of Shareholding

1 - 499

500 - 5,000

5,001 - 10,000

10,001 - 100,000

100,001 - 1,000,000

1,000,001 and above

Total

Size of Shareholdings Number

80,596

57,8533,282

2,086

77

7

143,901

%

56.01

40.20

2.28

1.45

0.06

0.00

100.00

Number

12,371,064

89,395,083

26,810,379

51,296,906

15,515,867

309,231,092

504,620,391

2.45

17.72

5.31

10.17

3.07

61.28

100.00

%

1. Sumber Serata Sdn BhdDirect 735,630 0.15Indirect {Registered in the name of Cimsec 146,844,520 29.10Nominees (Tempatan) Sdn Bhd}Total 147,580,150 29.25

2. Koperasi Usaha Bersatu Malaysia Berhad (in liquidation)Indirect {Registered in the name of Cimsec 79,500,000 15.75Nominees (Tempatan) Sdn Bhd}

3. Mohamed Raslan Abdul Rahman 35,684,458 7.07

4. Sasaran Era Sdn Bhd Indirect {Registered in the name of Cimsec 20,000,000 3.96Nominees (Tempatan) Sdn Bhd}

5. Puncak Kinta Sdn BhdIndirect {Registered in the name of OSK 14,202,114 2.81Nominees (Tempatan) Sdn Bhd}

6. Perbadanan Kemajuan Negeri PerakIndirect {Registered in the name of Oriental 13,000,000 2.58Nominee (Tempatan) Sdn Bhd and RC Nominees (Tempatan) Sdn Bhd}

SUBSTANTIAL SHAREHOLDERS

Name of Shareholders No of Shares held %

1. Cimsec Nominees (Tempatan) Sdn Bhd 146,844,520 29.10A/C Sumber Serata Sdn Bhd

2. Cimsec Nominees (Tempatan) Sdn Bhd 79,500,000 15.75A/C Koperasi Usaha Bersatu Malaysia Berhad (in liquidation)

3. Mohamed Raslan Abdul Rahman 35,684,458 7.074. Cimsec Nominees (Tempatan) Sdn Bhd 20,000,000 3.96

A/C Sasaran Era Sdn Bhd 5. OSK Nominees (Tempatan) Sdn Bhd 14,202,114 2.81

A/C Puncak Kinta Sdn Bhd6. Oriental Nominee (Tempatan) Sdn Bhd 11,000,000 2.18

A/C Perbadanan Kemajuan Negeri Perak7. RC Nominees (Tempatan) Sdn Bhd 2,000,000 0.40

A/C Perbadanan Kemajuan Negeri Perak8. UMNO Negeri Perak 908,964 0.189. Sumber Serata Sdn Bhd 735,630 0.1510. YAB Tan Sri Dato’ Haji Muhammad Haji Muhd Taib 509,107 0.1011. Lim Shiu Ho 500,018 0.1012. Chong Ah Him @ Chong Kum Kwan 479,000 0.0913. Berjasa Corporation Sdn Bhd 427,875 0.0814. Faudah @ Faridah Abu Hassan 420,000 0.0815. Syed Mohd Yusof Tun Syed Nasir 418,160 0.0816. Teoh Ewe Jin 363,500 0.0717. Hong Leong Finance Berhad 358,000 0.07

A/C Tan Siew Giap18. Syarikat Nominee Bumiputra (Tempatan) Sdn Bhd 350,205 0.07

A/C Dato’ Abdullah Ahmad19. Amanah Raya Nominees (Tempatan) Sdn Bhd 306,000 0.06

A/C Kuala Lumpur Growth Fund20. Kenanga Nominees (Tempatan) Sdn Bhd 264,629 0.05

A/C Datuk Hassan Harun

TWENTY LARGEST SHAREHOLDERSName of Shareholders No of Shares held %

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as at 27 April 2001

ShareholdingShareholdersDISTRIBUTION OF SHAREHOLDING

66 Directors’ Report

70 Statement by Directors

71 Statutory Declaration

72 Report of the Auditors to the Members

74 Balance Sheet

75 Income Statements

76 Statement of Changes in Equity

77 Cash Flow Statements

80 Notes to the Financial Statements

Financial Report 2000

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Directors’ Report for the year ended 31 December 2000

KUB Malaysia Berhad(Company No. 6022-D)(Incorporated in Malaysia)

and its subsidiaries

The Directors have pleasure in submitting their report and the audited financial statements of the Groupand of the Company for the year ended 31 December 2000.

Principal activities

The principal activities of the Company are that of investment holding and the provision of management services to companies in the Group.

The principal activities of the subsidiaries are set out in Notes 24 and 26 to the financial statements.

There has been no significant change in the nature of these activities during the financial year.

ResultsGroup CompanyRM’000 RM’000

Net loss for the year (49,927) (8,024)

Reserves

There were no material transfers to or from reserves and provisions during the year except as disclosedin the financial statements.

Dividends

No dividend was paid during the year and the Directors do not recommend any dividend to be paidfor the year under review.

Directors of the Company

Directors who served since the date of the last report are:

Datuk Hassan Harun Datuk Ruhanie Haji Ahmad Dato’ Syed Amin Aljeffri Dato’ Mohd Noor Yusof Datuk Haji Ahmad Shahibuddin Haji Mohd Nor Tengku Mohamed Fauzi Hamid Kamilia Ibrahim Dato’ Ir. Haji Harun Ahmad SarujiDatuk Haji Mohamed Al Amin Haji Abdul Majid JP

In accordance with Article 102 of the Company’s Articles of Association, Datuk Hassan Harun, Dato’Syed Amin Aljeffri and Dato’ Ir. Haji Harun Ahmad Saruji retire by rotation from the Board at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.

for the year ended 31 December 2000 (continued)

Company No. 6022-D

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67

Directors’ Report

The holdings and deemed holdings in the ordinary shares of the Company and of its related corporations of those who were Directors at year end as recorded in the Register of Directors’ Shareholdings are as follows:-

Number of ordinary sharesBalance at Balance at

1.1.2000 Bought Sold 31.12.2000

Shareholdings in which Director has direct interest

Datuk Hassan Harun 123,629 141,000 - 264,629

Datuk Ruhanie Haji Ahmad 10,000 - - 10,000

Dato’ Syed Amin Aljeffri 1,102 - - 1,102

Dato’ Mohd Noor Yusof 47,000 - (25,000) 22,000

Datuk Haji Ahmad Shahibuddin Haji Mohd Nor 12,000 - - 12,000

Tengku Mohamed Fauzi Hamid - 2,000 - 2,000

Kamilia Ibrahim 3,000 - - 3,000

Dato’ Ir. Haji Harun Ahmad Saruji 10,105 5,000 - 15,105

Datuk Haji Mohamed Al Amin Haji Abdul Majid JP 1,115 - - 1,115

Shareholdings in which Director has indirect interest

Datuk Hassan Harun* 147,580,150 - - 147,580,150

* Deemed interest held through his substantial shareholdings in Daya Profil Sdn Bhd, a major shareholder of Sumber Serata Sdn Bhd, which is a substantial shareholder in KUB Malaysia Berhad.

Directors’ benefits

Since the end of the previous financial year, no Director of the Company has received or become entitled to receive a benefit (other than a benefit included in the aggregate amount of emolumentsreceived or due and receivable by Directors as shown in the financial statements) by reason of a contract made by the Company or a related company with the Director or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest,except for professional fees paid in the ordinary course of business to firms in which certain Directorsare members.

There were no arrangement during and at the end of the financial year which had the object of enablingDirectors of the Company to acquire benefits by means of the acquisition of shares in or debentures ofthe Company or any other body corporate.

Issue of shares

There were no changes in the issued and paid-up share capital of the Company during the year.

Company No. 6022-D


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68

Directors’ Report

Options granted over unissued shares

No options were granted to any person to take up unissued shares of the Company during the year.

Other statutory information

Before the financial statements of the Group and of the Company were made out, the Directors tookreasonable steps to ascertain that:

i) all known bad debts have been written off and adequate provision made for doubtful debts, and

ii) all current assets have been stated at the lower of cost and net realisable value.

At the date of this Report, the Directors are not aware of any circumstances:

i) that would render the amount written off for bad debts, or the amount of the provision for doubtful debts, in the Group and in the Company inadequate to any substantial extent, or

ii) that would render the value attributed to the current assets in the Group and in the Company financial statements misleading, or

iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate, or

iv) not otherwise dealt with in this report or the accounts, that would render any amount stated in the financial statements of the Group and of the Company misleading.

At the date of this Report there does not exist:

i) any charge on the assets of the Group or of the Company that has arisen since the end of the financial year and which secures the liabilities of any other person or

ii) any contingent liability in respect of the Group or of the Company that has arisen since the end of the financial year.


Company No. 6022-D

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69

Directors’ Report

No contingent liability or other liability of any company in the Group has become enforceable, or is likely to become enforceable within the period of twelve months after the end of the financial yearwhich, in the opinion of the Directors, will or may substantially affect the ability of the Group and of theCompany to meet their obligations as and when they fall due.

In the opinion of the Directors, except as disclosed in Note 17, the results of the operations of theGroup and of the Company for the financial year ended 31 December 2000 have not been substantiallyaffected by any item, transaction or event of a material and unusual nature nor has any such item,transaction or event occurred in the interval between the end of that financial year and the date of thisreport.

Auditors

The auditors, Messrs KPMG Desa Megat & Co., have indicated their willingness to accept re-appointment.

Signed on behalf of the Board in accordance with a resolution of the Directors:

Datuk Hassan Harun


Kuala Lumpur,

24 April 2001

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70

In the opinion of the Directors, the financial statements set out on pages 74 to 108, are drawn up inaccordance with applicable approved accounting standards in Malaysia so as to give a true and fairview of the state of affairs of the Group and of the Company at 31 December 2000 and of the resultsof their operations and of their cash flows for the year ended on that date.

Signed in accordance with a resolution of the Directors:

Datuk Hassan Harun


Kuala Lumpur,

24 April 2001

Statement By Directors pursuant to Section 169 (15) of the Companies Act, 1965



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I, Shabaruddin Ibrahim, being the Deputy Chief Executive Officer primarily responsible for the financial management of KUB Malaysia Berhad, do solemnly and sincerely declare that the financial statements set out on pages 74 to 108 are, to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the Statutory Declarations Act, 1960.

Subscribed and solemnly declared by the abovenamed )at Kuala Lumpur on 24th day of April 2001. )

Before me:

Shabaruddin Ibrahim

Declaration pursuant to Section 169 (16) of the Companies Act, 1965

KUB Malaysia Berhad(Company No. 6022-D)

(Incorporated in Malaysia)


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We have audited the financial statements set out on pages 74 to 108. The preparation of the financial statements is the responsibility of the Company’s Directors. Our responsibility is to express anopinion on the financial statements based on our audit.

We conducted our audit in accordance with approved Standards on Auditing in Malaysia. Thesestandards require that we plan and perform the audit to obtain all the information and explanationswhich we consider necessary to provide us with evidence to give reasonable assurance that thefinancial statements are free of material misstatement. An audit includes examining, on a test basis,evidence relevant to the amounts and disclosures in the financial statements. An audit also includes anassessment of the accounting principles used and significant estimates made by the Directors as wellas evaluating the overall adequacy of the presentation of information in the financial statements. Webelieve our audit provides a reasonable basis for our opinion.

In our opinion:

(a ) the f inancial statements are properly drawn up in accordance with the provisions of theCompanies Act, 1965 and applicable approved accounting standards in Malaysia so as to give atrue and fair view of:

i) the state of affairs of the Group and of the Company at 31 December 2000 and the results oftheir operations and cash flows for the year ended on that date; and

ii) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in thefinancial statements of the Group and of the Company;

and

(b) the accounting and other records and the registers required by the Companies Act, 1965 to bekept by the Company and the subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the said Act.

A subsidiary in respect of which we have not acted as auditor is identified in Note 26 to the financialstatements and we have considered its financial statements and the auditors’ report thereon.

Report of the Auditors to the Members



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We are satisfied that the financial statements of the subsidiaries that have been consolidated with theCompany’s financial statements are in form and content appropriate and proper for the purposes of thepreparation of the consolidated financial statements and we have received satisfactory information andexplanations required by us for those purposes.

The audit reports on the financial statements of the subsidiaries were not subject to any qualificationand did not include any comment made under subsection (3) of Section 174 of the Act.

KPMG Desa Megat & Co.Firm Number: AF 0759Public Accountants

Abdullah Abu SamahPartnerApproval Number: 2013/6/02(J)

Kuala Lumpur,

24 April 2001

Company No. 6022-D

(continued)

Report of the Auditors to the Members

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74

Note Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Property, plant and equipment 2 329,994 173,928 5,653 4,814Interests in subsidiaries 3 - - 525,428 370,979Interests in associates 4 32,467 42,436 30,443 40,443Other investments 5 30,981 9,340 29,701 8,969Development expenditure 6 187,319 159,968 4,876 4,740Intangible asset 7 1,775 1,862 - -

582,536 387,534 596,101 429,945Current assets

Inventories 8 73,298 60,434 - -Development expenditure 6 6,276 4,270 - -Trade and other receivables 9 190,958 183,708 20,065 21,023Other investments 5 - 22,463 - 21,532Cash and cash equivalents 10 275,793 402,646 204,529 350,105

546,325 673,521 224,594 392,660Current liabilities

Trade and other payables 11 206,360 148,359 18,205 14,604Borrowings 12 72,326 57,757 54 -Taxation 6,003 6,150 2,257 -

284,689 212,266 20,516 14,604

Net current assets 261,636 461,255 204,078 378,056

844,172 848,789 800,179 808,001

Financed by:Capital and reserves

Share capital 13 504,620 504,620 504,620 504,620Reserves 214,980 264,907 295,357 303,381

719,600 769,527 799,977 808,001Minority shareholders’ interests 14 31,690 28,645 - - Long term and deferred liabilities

Deferred taxation 3,421 3,421 - -Borrowings 12 89,461 47,196 202 -

92,882 50,617 - -

844,172 848,789 800,179 808,001

Balance Sheet at 31 December 2000



The notes set out on pages 80 to 108 form an integral part of, and, should be read in conjunction with, these financial statements.

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Note Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Revenue 480,087 327,192 8,287 3,120

Operating loss 15 (30,296) (17,189) (5,023) (17,756)Interest expense (6,691) (13,729) - (7,458)Interest income 9,940 10,384 9,256 9,048Exceptional items 17 (10,000) 153,802 (10,000) 153,802Share of (loss)/profit of associates 4 (919) 265 - -

(Loss)/Profit before tax (37,966) 133,533 (5,767) 137,636Tax expense 18 (8,579) (288) (2,257) (1,997)

(Loss)/Profit after taxation (46,545) 133,245 (8,024) 135,639Less: Minority Interests (3,382) (9,298) - -

Net (loss)/profit for the year (49,927) 123,947 (8,024) 135,639

Basic (loss)/earnings per ordinary share (sen) 19 (9.89) 24.56

Diluted (loss)/earnings per ordinary share (sen) 19 (9.40) 23.33


Income Statements for the year ended 31 December 2000




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Non distributableShare Share Capital Accumulatedcapital premium reserves losses TotalRM’000 RM’000 RM’000 RM’000 RM’000

Group

At 1 January 1999 504,620 295,862 13,430 (168,332) 645,580

Net profit for the year - - - 123,947 123,947

At 31 December 1999 504,620 295,862 13,430 (44,385) 769,527

Capitalised for bonus issue - - 2,285 (2,285) -

Net loss for the year - - - (49,927) (49,927)

At 31 December 2000 504,620 295,862 15,715 (96,597) 719,600

Note 13

Company

At 1 January 1999 504,620 295,862 4,613 (132,733) 672,362

Net profit for the year - - - 135,639 135,639

At 31 December 1999 504,620 295,862 4,613 2,906 808,001

Net loss for the year - - - (8,024) (8,024)

At 31 December 2000 504,620 295,862 4,613 (5,118) 799,977

Note 13


Statement of changes in equity for the year ended 31 December 2000



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Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000Cash flows from operating activities

(Loss)/Profit before taxation (37,966) 133,533 (5,767) 137,636

Adjustments for:Depreciation and amortisation 26,823 22,803 906 480Development costs written off 481 2,617 235 2,617Property, plant and equipment written off - 62 - -Property development costs written off 700 - - -Goodwill written off 1,000 - - -Interest expense 6,691 13,729 - 7,458Interest income (9,940) (10,384) (11,874) (9,459)Provision for diminution in value of associates 10,000 - 10,000 -Provision for diminution in value of investments 800 2,000 800 2,863Provision for foreseeable loss - 1,322 - -Provision for cessation of business - 500 - -Gain on disposal of an investment - (153,802) - (153,802)Unrealised gain on foreign exchange - (142) - -Share of (loss)/profit of associates 919 (265) - -

Operating (loss)/profit before working capital changes (492) 11,973 (5,700) (12,207)

(Increase)/Decrease in working capital:Inventories (12,864) 16,538 - -Trade and other receivables (7,250) (31,495) 3,576 4,539Trade and other payables 45,726 (3,316) 3,601 (1,344)

Cash generated by/(used in) operations 25,120 (6,300) 1,477 (9,012)Income taxes paid (8,726) (6,931) - (2,010)Interest paid - - - (7,458)

Net cash generated by/(used in)operating activities 16,394 (13,231) 1,477 (18,480)


Cash Flow Statements for the year ended 31 December 2000




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Company No. 6022-D

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000Cash flows from investing activities

Purchase of property, plant and equipment (ii) (177,109) (59,361) (1,179) (812)Acquisition of an associate (980) (24,321) - (24,171)Purchase of investments - (3,283) - (2,900)Development expenditure (iii) (18,141) (41,106) (624) (1,368)Acquisition of subsidiary companies,

net of cash acquired (i) (4,210) - - -Proceeds from disposal of property, plant

and equipment 573 - 32 -Proceeds from disposal of an associate - 823,802 - 461,500Proceeds from disposal of an investment - 5,000 - 367,302Advances from associates 30 764 - -Advances to subsidiaries - - (154,449) (134,702)Interest received 9,940 9,279 9,256 8,243Uplift/(placement) of fixed deposits (iv) 127 (3,635) - -

Net cash (used in)/generated byinvesting activities (189,770) 707,139 (146,964) 673,092

Cash flows from financing activities

Interest paid (6,691) (13,729) - -Payment of finance lease/hire purchase

liabilities (2,121) (4,976) (89) -Repayment of short term borrowings (7,132) (326,835) - (341,921)Proceeds from loans and other borrowings 57,739 2,194 - -Dividends paid to minority shareholders (1,925) - - -

Net cash generated by/(used in)financing activities 39,870 (343,346) (89) (341,921)

Net (decrease)/increase in cash and cash equivalents (133,506) 350,562 (145,576) 312,691

Cash and cash equivalents at beginning of year (iv) 377,437 26,875 350,105 37,414

Cash and cash equivalents at end of year (iv) 243,931 377,437 204,529 350,105

Cash Flow Statementsfor the year ended 31 December 2000 (continued)


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Company No. 6022-D


Cash Flow Statements

i) Acquisition of subsidiaries

During the year, the Group acquired two subsidiaries (refers to Note 27). The fair values of assetsand liabilities assumed were as follows:

2000RM’000

AssetsProperties under development 4,469

Long term liabilities (1,259)

Net assets 3,210Goodwill on acquisition 1,000

Purchase price paid 4,210Less: Cash and cash equivalents of the subsidiaries -

Cash flow on acquisition net of cash acquired 4,210

ii) Purchase of property, plant and equipment

During the year, the Group and the Company acquired property, plant and equipment with an aggregate cost RM178,677,000 and RM1,524,000 respectively, of which RM1,568,000 andRM345,000 respectively was acquired by means of hire purchases.

iii) Development expenditure

During the year, the Group acquired two pieces of land with an aggregate cost of RM12,626,000which is payable to the vendors.

iv) Cash and cash equivalents

Cash and cash equivalents included in the cash flow statement comprise the following balancesheet amounts:

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Cash and bank balances 57,545 30,677 11,390 3,603Deposits 210,885 364,479 193,139 346,502Bank overdrafts (24,499) (17,719) - -

243,931 377,437 204,529 350,105

Deposits with l icensed banks is exclusive of the deposits amounting to RM7,363,000 (1999 - RM7,490,000) which have been pledged as security for banking facilities of the Group.


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Company No. 6022-D

1. Summary of significant accounting policies

The following accounting policies are adopted by the Group and the Company and are consistentwith those adopted in previous years.

(a) Basis of accounting

The financial statements of the Group and of the Company are prepared under the historicalcost convention, modified to include revaluation of certain property, plant and equipment andin compliance with applicable approved accounting standards in Malaysia.

(b) Basis of consolidation

Subsidiaries are those enterprises controlled by the Company. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies ofan enterprise so as to obtain benefits from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that controleffectively commences until the date that control effectively ceases. Subsidiaries are consolidated using the acquisition method of accounting except for certain subsidiaries whichare consolidated using the merger method of accounting.

A subsidiary is excluded from consolidation when control is intended to be temporary if the subsidiary is acquired and held exclusively with a view of its subsequent disposal in the nearfuture and it has not previously been consolidated or it operates under severe long term restrictions which significantly impair its ability to transfer funds to the Company. Subsidiariesexcluded on these grounds are accounted for as investments.

Under the acquisition method of accounting, the results of subsidiaries acquired or disposed during the year are included from the date of acquisition or up to the date of disposal. At thedate of acquisition, the fair values of the subsidiaries’ net assets are determined and these values are reflected in the Group financial statements. The difference between the acquisitioncost and the fair values of the subsidiaries’ net assets is reflected as goodwill or reserve on consolidation as appropriate.

Under the merger method of accounting, the difference between the cost of acquisition andthe nomina l va lue o f the share cap i ta l and reser ves o f the subs id ia r ies is taken tomerger reser ve.

Intragroup transactions and balances and the resulting unrealised profits are eliminated onconsolidation. Unrealised losses resulting from intragroup transactions are also eliminatedunless cost cannot be recovered.

(c) Goodwill

Goodwill arising on an acquisition of subsidiaries or associates represents the excess of thecost of the acquisition over the fair values of the net identifiable assets acquired. Goodwill ischarged to income statement in the year the goodwill arises. In respect of associates, the carrying amount of goodwill is included in the carrying amount of the investment in the associates.

Notes To The Financial Statements for the year ended 31 December 2000



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Company No. 6022-D


Notes To The Financial Statements

1. Summary of significant accounting policies (continued)

(d) Associates

Associates are those enterprises in which the Group has significant influence, but not control,over the financial and operating policies.

The consolidated financial statements include the total recognised gains and losses of associates on an equity accounted basis from the date that significant influence effectivelycommences until the date that significant influence effectively ceases.

Unrealised profits arising on transactions between the Group and its associates which areincluded in the carrying amount of the related assets and liabilities are eliminated partially tothe extent of the Group’s interests in the associates. Unrealised losses on such transactionsare also eliminated partially unless cost cannot be recovered.

Goodwill on acquisition is calculated based on the fair value of net assets acquired.

(e) Property, plant and equipment

Property, plant and equipment except for freehold land are stated at cost/valuation less accumulated depreciation and accumulated impairment losses.

The revaluation of long term leasehold land and building of the Group and Company in 1980by the Directors was based on an independent professional valuation. The revaluation was notintended to effect a change in accounting policy and they are continued to be stated at theirexisting carrying amounts less accumulated depreciation.

Property, plant and equipment retired from active use and held for disposal are stated at thelower of net book value and net realisable value.

The carrying amounts of property, plant and equipment are reviewed at each balance sheetdate to determine whether there is any indication of impairment. If such an indication exists,the asset’s recoverable amount is estimated. An impairment loss is recognised whenever the carrying amount of an item of property, plant and equipment exceeds its recoverable amount.In determining the recoverable amount of property, plant and equipment, expected future cashflows have not been discounted to their present values. The impairment loss is charged to theincome statement unless it reverses a previous revaluation in which case it will be charged toequity. Any subsequent increase in recoverable amount is reduced by the amount that wouldhave been recognised as depreciation had the write-down or write-off not occurred. Such subsequent increase in recoverable amount is recognised in the income statement unless itreverses an impairment losses on a revalued asset in which case it is taken to equity.

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(f) Depreciation

Freehold land is not amortised. Leasehold land is amortised in equal installments over the period of the respective leases which ranges from 50 to 99 years. The straight-line method isused to write off the cost of the assets over the term of their estimated useful lives at the following principal annual rates:

Factory and buildings 2% - 10%Plant, equipment and vehicles 10 - 33 1/3%Courseware 12.5%

(g) Finance lease

Leases in which the Group assumes substantially all the risks and rewards of ownership areclassified as finance leases. Assets acquired by way of finance leases are stated at an amountequal to the lower of their fair values and the present value of the minimum lease payments atthe inception of the leases, less accumulated depreciation and impairment losses.

In calculating the present value of the minimum lease payments, the discount rate is the interest rate implicit in the lease, if this is practicable to determine; if not, the Group’s incrementalborrowing rate is used.

(h) Hire purchase

Plant and equipment acquired under hire purchase arrangements are capitalised in the financial statements and the corresponding obligation recorded as a liability. Finance chargesare allocated to the income statement over the hire purchase periods on the sum-of-digitsmethod.

(i) Investments

Long term investments are stated at cost. A provision is made when the Directors are of theview that there is a permanent diminution in their value.

Short term quoted investments are stated at the lower of cost and market value on a portfolio basis with a specific write down for shares where a permanent diminution hasoccurred.

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(j) Development expenditure

i) Development costs

These are in respect of development cost incurred for information and communicationtechnologies and for the bottling and trading of liquified petroleum gas.

Development cost comprises expenditure incurred on a plan or design for the productionof new products or services prior to the commencement of commercial production or use.The expenditures are capitalised if the products or services are technically and commercially feasible and the Group has sufficient resources to complete the development. It includescost of materials, direct labour and appropriate proportion of overheads. Capitalised development expenditure is amortised over a period of 5 to 10 years on a straight-linebasis so as to reflect the pattern of which the related future economic benefits is expected toflow from the development activities. The amortisation commences when the product or services is available for sale.

ii) Plantation development expenditure

Plantation development expenditure includes the costs incurred on the land, plantation infrastructure and development and capitalisation of interest expense on loans andadvances utilised to finance the on-going development. The capitalisation of interest willcease when the plantation is ready for its intended use.

Plantation expenditure incurred for the land development, planting and trees maintenanceis capitalised until maturity in the plantation development accounts. Upon maturity, theexpenditure incurred is amortised based on estimated annual yield over 25 years.

iii) Property under development

Properties under development comprising land and development expenditure are stated atcost plus attributable profit less foreseeable losses, net of progress billings. Developmentexpenditure includes capitalisation of interest expense on loans and advances utilised tofinance on-going development.

(k) Intangible asset

Concession costs

Concession costs is in respect of the rights to operate Institute Latihan Perindustrian Prai.Concession costs is stated at cost less accumulated amortisation.

The concession costs is amortised through the income statement over 25 years.

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(l) Inventories

Raw materials, work-in-progress and manufactured inventories are stated at the lower of cost and net realisable value with weighted average cost being the main basis for cost. Forwork-in-progress and manufactured stocks, cost consists of materials, direct labour and anappropriate proportion of fixed and variable production overheads.

(m) Capitalisation of borrowing costs

Borrowing costs incurred on development expenditure are capitalised. Capitalisation of borrowing costs will cease when the assets are ready for their intended use.

(n) Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, balances and deposits with banks andhighly liquid investments which have an insignificant risk of changes in value. For the purposeof the cash flow statement, cash and cash equivalents are presented net of bank overdrafts.

(o) Taxation

The tax expense in the income statement represents taxation at current tax rates based on profit earned during the year.

Deferred taxation is provided on the liability method for all timing differences except where noliability is expected to arise in the foreseeable future and there are no indications the timing differences will reverse thereafter. Deferred tax benefits are only recognised where there is areasonable expectation of realisation in the near future.

(p) Foreign currency

Transactions in foreign currencies are translated to Ringgit Malaysia at rates of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated to Ringgit Malaysia at the foreignexchange rates ruling at that date. Foreign exchange differences arising on translation arerecognised in the income statement.

The closing rates used in the translation of foreign currency monetary assets and liabilities areas follows:

USD RM3.80JPY100 RM3.31DEM RM1.81SGD RM2.19

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(q) Revenue

i) Goods sold and services rendered

Revenue from sale of goods is measured at the fair value of the consideration receivableand is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the buyer.

Revenue from services rendered is recognised in the income statement in proportion to thestage of completion of the transaction at the balance sheet date. The stage of completion is assessed by reference to services performed to date as a percentage of totalservices to be performed/the proportion that costs incurred to date that reflect servicesperformed bear to the total estimated costs of the transaction. Where the outcome of thetransaction cannot be estimated reliably, revenue is recognised only to the extent of theexpenses recognised that are recoverable.

ii) Construction contracts

Revenue from long term fixed price construction contracts is recognised on the percentage of completion method, measured by reference to surveys of work performed/the proportion that contract costs incurred for contract work performed to datethat reflect work performed bear to the total estimated contract costs.

When the outcome of a construction contract cannot be estimated reliably, revenue is recognised only to the extent of contract costs incurred that is probable will be recoverable and contract costs are recognised as an expense in the period in which theyare incurred.

An expected loss on a contract is recognised immediately in the income statement.

iii) Property development

Profit from property development is recognised using the percentage of completionmethod. Where foreseeable losses are anticipated, full provision for these losses is madein the financial statements.

iv) Dividend income

Dividend income is recognised when the rights to receive payment is established.

v) Interest income

Interest income is recognised in the income statement as it accrues, taking into accountthe effective yeild on the asset.

(r) Expenses

All interest and other costs incurred in connection with borrowings ( except in Note 1 (m) )are expensed as incurred. The interest component of finance lease payments is recognised in the income statement so as to give a constant periodic rate of interest on the outstandingliability at the end of each accounting period.

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2. Property, plant and equipment

Group Long Plant,term Factory equipment

Freehold leasehold and andland land Buildings vehicles Courseware Total

Cost/Valuation RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Opening balance 580 7,062 105,353 111,811 14,001 238,807Additions 4,246 - 74,792 92,609 7,030 178,677Disposals - - (332) (2,439) - (2,771)

Closing balance 4,826 7,062 179,813 201,981 21,031 414,713

Representing items at:Cost 4,826 7,062 175,556 201,981 21,031 410,456Directors’ valuation - - 4,257 - - 4,257

Closing balance 4,826 7,062 179,813 201,981 21,031 414,713

Depreciation

Opening balance - 1,263 13,508 48,614 1,494 64,879Charge for the year - 10 4,540 16,456 1,032 22,038Disposals - - (312) (1,886) - (2,198)

Closing balance - 1,273 17,736 63,184 2,526 84,719

Net book value

At 31 December 2000 4,826 5,789 162,077 138,797 18,505 329,994

At 31 December 1999 580 5,799 91,845 63,197 12,507 173,928

Depreciation charge for the year ended 31 December 1999 - 17 2,146 15,038 1,494 18,695

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2. Property, plant and equipment (continued)

Company Factory Equipmentand and

Buildings vehicles TotalCost/Valuation RM’000 RM’000 RM’000

Opening balance 5,261 1,843 7,104Additions - 1,524 1,524Disposals - (85) (85)

Closing balance 5,261 3,282 8,543

Representing items at:Cost 1,004 3,282 4,286Directors’ valuation 4,257 - 4,257

At 31 December 2000 5,261 3,282 8,543

Depreciation

Opening balance 1,462 828 2,290Charge for the year 88 565 653Write off - (53) (53)

Closing balance 1,550 1,340 2,890

Net book value

At 31 December 2000 3,711 1,942 5,653

At 31 December 1999 3,799 1,015 4,814

Depreciation charge for the yearended 31 December 1999 88 225 313

Depreciation charge for the year is allocated as follows:Group

2000 1999RM’000 RM’000

Income statements (Note 15) 22,038 18,444Development costs (Note 6) - 251

22,038 18,695

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2. Property, plant and equipment (continued)

Revaluation

The long term leasehold land and building of the Group and Company are stated at Directors’ valuation based on independent professional valuation in 1980. In accordance with the transitionalprovisions issued by the Malaysian Accounting Standards Board (“MASB”) upon adoption of International Accounting Standards Board No. 16 (Revised) Property, Plant & Equipment, the valuation of these assets has not been updated, and they continue to be stated at their existingcarrying amounts less accumulated depreciation.

The tax effect in respect of the surplus arising on revaluation of land is not provided for as theintention is to hold for long term purposes.

Security

The following property, plant and equipment are pledged to banks as security for borrowings purposes:-

Group2000 1999

RM’000 RM’000Net Book Value

Freehold land 280 280Long term leasehold land 482 490Factory and buildings 107,524 48,391Plant, equipment and vehicles 31,073 4,061

139,359 53,222

Assets under hire purchase and finance lease

Included in the property, plant and equipment of the Group are plant, equipment and motor vehicles with net book value amounting to RM6,808,000 (1999 - RM6,634,000) acquired underhire purchase and lease agreements.

3. Interest in subsidiariesCompany

2000 1999RM’000 RM’000

Unquoted shares-at cost 161,749 161,749Less: Provision for diminution in value of investments (10,177) (10,177)

151,572 151,572

Amount due from subsidiaries 398,929 245,390Less: Provision for doubtful debts (13,272) (13,272)

385,657 232,118

Amount due to subsidiaries (11,801) (12,711)

525,428 370,979

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3. Interest in subsidiaries (continued)

The amounts due (to)/from subsidiaries are interest free, unsecured and not expected to berepayable in next twelve months except for the following amount due from subsidiaries:

Company2000 1999

RM’000 RM’000

Secured by equipment with a net book value of RM25,815,000 (1999 - Nil),bear interest of 1.5% and 2.5% above BLR (1999 - Nil) and repayable by four equal annual installment commencing 31 January 2002 28,953 -

Unsecured, bear interest at 12% per annum (1999 - 12% per annum) 13,500 4,000

Convertible shareholder’s loan, bear interest at 2% above BLR per annum (1999 - Nil) 5,445 -

Detail of the subsidiaries are shown in Notes 24 and 26.

4. Interests in associates

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Quoted shares 24,175 24,175 24,175 24,175Unquoted shares 17,490 16,510 16,268 16,268Shares of post acquisition reserves 1,123 2,042 - -Less: Provision for diminution in

value - unquoted shares (10,000) - (10,000) -

32,788 42,727 30,443 40,443Amount due to associates (321) (291) - -

32,467 42,436 30,443 40,443

Represented by:Group’s share of net assets other than goodwill 33,200 33,139Goodwill on acquisition 9,588 9,588Less: Provision for diminution

in value - unquoted shares (10,000) -

32,788 42,727

Market value of quoted associates 9,184 21,832 9,184 21,832

Amount due to associates is trade related, unsecured, interest free, and has no fixed terms of repayment.

Details of the associates are shown in Note 25.

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5. Other investments

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Long termOther investments:

Quoted shares 808 808 - -Unquoted shares 30,173 8,532 29,701 8,969

30,981 9,340 29,701 8,969

Short termOther investments:

Unquoted shares - 22,463 - 21,532

Market value of quoted investments:Long term

Other investments:Quoted shares 993 1,308

6. Development expenditure

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Development costs (Note 6.1) 30,960 26,936 1,808 1,419Plantation development expenditure (Note 6.2) 52,360 35,398 3,068 3,321Properties under development (Note 6.3) 110,275 101,904 - -

193,595 164,238 4,876 4,740Less: Properties under development

- current portion (Notes 6.3) 6,276 4,270 - -

187,319 159,968 4,876 4,740

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6. Development expenditure (continued)

6.1 Development costs

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

At 1 January 30,502 30,523 1,419 2,668Additions during the year 8,370 2,596 4,212 1,368Transfer - - (3,588) -

38,872 33,119 2,043 4,036Accumulated amortisation (7,431) (3,566) - -Write off of development costs (481) (2,617) (235) (2,617)

At 31 December 30,960 26,936 1,808 1,419

Amortisation during the year 3,865 3,566 - -

Group2000 1999

RM’000 RM’000

Additions to development costs during the year include:

Depreciation (Note 2) - 251Interest expense - 75Rental - 15

6.2 Plantation development expenditure

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000At 1 January

Leasehold land - at cost 10,875 9,606 2,312 2,312Plantation infrastructure 5,578 4,979 - -Plantation development 21,010 15,483 1,883 1,883

37,463 30,068 4,195 4,195Additions during the year 17,795 7,395 - -

55,258 37,463 4,195 4,195Accumulated amortisation (2,898) (2,065) (1,127) (874)

At 31 December 52,360 35,398 3,068 3,321

Amortisation during the year 833 709 253 167

Group2000 1999

RM’000 RM’000

Addition to plantation development during the year include:

Interest expense 371 677

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6. Development expenditure (continued)

6.3 Properties under development

Group2000 1999

RM’000 RM’000

At costLeasehold land - at cost 85,024 80,453Development expenditure 29,898 23,825Attributable profits 514 -Provision for foreseeable loss (2,000) (2,084)Write-off of development expenditure costs (700) -

112,736 102,194Less: Progress billings (2,461) (290)

110,275 101,904Less: Non-current portion (103,999) (97,634)

6,276 4,270

Group2000 1999

RM’000 RM’000

Additions to development expenditure during the year include:

Interest expense 34 1,423

7. Intangible asset

Group2000 1999

RM’000 RM’000

Concession costsAt 1 January 1,946 1,946Accumulated amortisation (171) (84)

At 31 December 1,775 1,862

Amortisation during the year 87 84

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8. Inventories

Group2000 1999

RM’000 RM’000

Raw materials 12,996 14,957Work-in-progress 12,858 12,712Finished goods 47,444 30,451Parts and components - 2,314

73,298 60,434

Inventories amounting to RM23,494,000 (1999 - RM26,791,000) are pledged to banks for bankingfacilities of the Group.

9. Trade and other receivables

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Trade receivables 146,006 136,233 - -Less: Provision for doubtful debts (9,712) (6,816) - -

136,294 129,417 - -

Other receivables, deposits and prepayments 56,905 56,532 20,065 21,023Less: Provision for doubtful debts (2,241) (2,241) - -

54,664 54,291 20,065 21,023

190,958 183,708 20,065 21,023

Group

Trade and other receivables amounting to RM15,773,000 ( 1999 - RM10,006,000 ) are pledged tobanks as security for banking facilities of the Group.

10. Cash and cash equivalents

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Cash and bank balances 57,545 30,677 11,390 3,603Deposits 218,248 371,969 193,139 346,502

275,793 402,646 204,529 350,105

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10. Cash and cash equivalents (continued)

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Deposits are placed with:Licensed banks 158,221 168,020 153,139 146,053Finance companies 60,027 203,949 40,000 200,449

218,248 371,969 193,139 346,502

Group

Deposits with licensed banks amounting to RM7,363,000 (1999 - RM7,490,000) have beenpledged as security for banking facilities of the Group.

11. Trade and other payables

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Trade payables 58,725 39,346 - -Other payables and accrued expenses 130,743 102,874 18,205 14,604Amount due to contract customers (Note 11.1) 16,892 6,139 - -

206,360 148,359 18,205 14,604

11.1 Amount due to contract customersGroup

2000 1999RM’000 RM’000

Aggregate cost incurred to date 68,010 56,704Add: Attributable profit 8,805 2,170

76,815 58,874Less: Progress billings (93,707) (65,013)

Amount due to contract customers (16,892) (6,139)

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12. Borrowings

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

CurrentTerm loans - secured 17,898 5,269 - -Overdrafts - secured 24,499 17,719 - -Banker’s acceptances - secured 27,511 33,184 - -

- unsecured - 116 - -Finance lease and hire purchase liabilities 2,418 1,469 54 -

72,326 57,757 54 -

Non-currentLong term loans - secured 86,807 43,040 - -Finance lease and hire purchase liabilities 2,654 4,156 202 -

89,461 47,196 202 -

Terms and debt repayment schedule

The overdraft and term loans of the Group are subject to interest between 4% to 10.8% per annum(1999 - 6% to 10%). Hire purchase/finance leases are subject to a fixed interest rate of between5.3% to 12.5% (1999 - 5.7% to 12.5%). Bankers’ acceptances are subject to interest between0.85% and 2% (1999 - ranging from 0.85% and 2%) above the cost of funds and the lenders’ baselending rates respectively.

Overdrafts and term loans of certain subsidiaries are secured by way of fixed and floating chargesover the subsidiaries’ property, plant and equipment, inventories, trade and other receivables.

Finance lease and hire purchase liabilities

Finance lease and hire purchase liabilities are payable as follows:

Payments Interest Principal Payments Interest Principal2000 2000 2000 1999 1999 1999

RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

GroupLess than one year 3,097 679 2,418 1,836 367 1,469Between one and five years 3,162 508 2,654 5,144 988 4,156

6,259 1,187 5,072 6,980 1,355 5,625

CompanyLess than one year 68 14 54 - - -Between one and five years 251 49 202 - - -

319 63 256 - - -

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13. Share capitalGroup and Company2000 1999

RM’000 RM’000

Ordinary shares of RM1 each

Authorised 1,000,000 1,000,000

Issued and fully paid 504,620 504,620

On 25 April 1997, KUB entered into a supplemental Sale and Purchase Agreement with KoperasiUsaha Bersatu Malaysia Berhad (in liquidation) to amend the Sale and Purchase Agreement dated21 August 1996 whereby part of the Koperasi’s assets to be acquired under the KUB Ekuiti SdnBhd’s acquisition were the Malay Reserve Lands and Restriction-in-Title lands.

The acquisition value of the non-transferred lands is RM48.08 million and this value will be satisfiedby the issuance of 26,711,111 new ordinary shares of RM1 each in KUB at an issue price ofRM1.80 per share. Upon the approvals being obtained for the transfer of the non-transferredlands, the issued and paid-up share capital of KUB would increase from 504,620,391 shares to531,331,502 shares. Since the end of the previous financial year, certain land titles with purchase considerations of RM10.64 million have been transferred but the related number of shares of5,911,111 have yet to be issued. The remaining land will be transferred to the Company uponobtaining the approvals of the relevant state land offices.

14. Minority shareholders’ interests

This consists of minority shareholders’ proportion of share capital and reserves of subsidiaries.

15. Operating lossGroup Company

2000 1999 2000 1999RM’000 RM’000 RM’000 RM’000

Revenue- contract revenue 207,182 124,783 - -- sale of goods 223,447 164,764 - -- services 45,285 37,560 5,669 2,709- sale of properties 4,173 85 - -- interest - - 2,618 411

480,087 327,192 8,287 3,120

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15. Operating loss (continued)

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Contract costs recognised as an expense (180,545) (99,469) - -Cost of sales (179,274) (133,342) - -Cost of services (35,698) (26,273) - -Cost of properties sold (3,488) (1,228) - -

(399,005) (260,312) - -

Gross profit 81,082 66,880 8,287 3,120

Distribution costs (20,267) (10,217) - -Administration expenses (76,823) (72,968) (12,192) (15,606)Other operating expenses (27,718) (23,039) (2,077) (7,257)Other operating income 13,430 22,155 959 1,987

(111,378) (84,069) (13,310) (20,876)

Operating loss (30,296) (17,189) (5,023) (17,756)

Operating loss is arrived at after crediting:-Rental income on land and building - 137 142 137Write-back of over accuals 5,869 16,727 - -

and after charging:-Amortisation of development costs 3,865 3,566 - -Amortisation of plantation development

expenditure 833 709 253 167Amortisation of intangible asset 87 84 - -Auditors’ remuneration 304 282 22 22Company’s Directors

Remuneration 464 418 464 418Fee 108 108 108 108

Depreciation 22,038 18,444 653 313Goodwill written off 1,000 - - -Legal fees paid to firm in which a Director

is a partner 168 586 55 37Tax fees paid to firm in which a Director

is a partner 36 331 18 18Provision for diminution in value of other

investment 800 2,000 800 2,863Provision for doubtful debts 2,896 3,204 - 784Provision for cessation of business - 500 - 500Provision for foreseeable losses - 1,322 - -Rental expense on land and buildings 4,739 8,804 858 638Software license and technical agreement

rights 528 577 - -Development costs written off 481 2,617 235 2,617Property development costs written off 700 - - -Inventories written off - 115 - -

The estimated monetary value of Directors’ benefits-in-kind is RM25,000 (1999 - RM25,000).

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16. Employee information

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Staff costs 51,361 43,510 4,316 6,515

The number of employees of the Group and of the Company (including Directors) at the end of the year was 2,867 (1999 - 2,546) and 85 (1999 - 72) respectively.

17. Exceptional items

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Provision for diminution in value of associates (10,000) - (10,000) -Gain on disposal of investment - 153,802 - 153,802

(10,000) 153,802 (10,000) 153,802

18. Tax expense

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Current tax expenseMalaysian - current 8,579 - 2,257 -

- prior year - (2,624) - 1,997

8,579 (2,624) 2,257 1,997Deferred tax expense

Malaysian - current - 2,912 - -

8,579 288 2,257 1,997

The Group’s effective tax rate is higher than the prima facie tax rate as the tax charge relates to taxon profits of certain subsidiaries which cannot be set-off against losses of other subsidiaries for taxpurposes as group relief is not available.

The Company’s effective tax rate is also higher than the prima facie tax rate as certain expensesare not deductible for tax purposes.

Subject to agreement by the Inland Revenue Board, the Company has potential deferred tax benefitsnot taken up in the financial statements under the liability method in respect of the following items:

2000 1999RM’000 RM’000

Unutilised tax losses 3,698 3,698Other timing differences 2,074 1,671

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19. Earnings per ordinary share - group

Basic earnings per share

The calculation of basic earnings per share is based on the net loss attributable to ordinary shareholders of RM49,927,000 ( 1999 - net profit ofRM123,947,000 ) and the number of ordinaryshares outstanding during the year of 504,620,000 ( 1999 - 504,620,000 ).

Diluted earnings per share

The calculation of diluted earnings per share is based on the net loss attributable to ordinary shareholdersof RM49,927,000 (1999 - net profit of RM123,947,000) and the weighted average number of ordinaryshares outstanding during the of 531,331,111 ( 1999 - 531,331,111 ) calculated as follows:

Weighted average number of ordinary shares (diluted)

2000 1999RM’000 RM’000

Issued ordinary shares at begining of the year 504,620 504,620Effect of new issue of ordinary shares as consideration for

acquisition of certain Malay-Reserve and Restriction-in-Title land (Note 13) 26,711 26,711

Weighted average number of ordinary shares (diluted) 531,331 531,331

20. Segmental Information

Segment information is presented in respect of the Group’s business segment. All of the Group’sbusinesses are in Malaysia.

Inter-segment pricing is determined based on the normal course of business and the terms havebeen established on a negotiated basis.

Segment results, assets and liabilities include items directly attributable to a segment as well asthose that can be allocated on a reasonable basis.

Business segments:

The Group comprises the following main business segments:

Information and On-line education, information technologies andcommunication technologies telecommunication services and their related

infrastructures.

Properties and construction Property development, property management and engineering and construction.

Plantation Plantation of oil palm

Consumer products Manufacturing, trading and hotelier.

Investments Investment holdings

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20. Segmental information (continued)

Revenue Gross assets (Loss)/Profitbefore tax

2000 1999 2000 1999 2000 1999RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Analysis by activity

Information and communication

technologies (“ICT”) 282,482 226,778 407,443 279,053 (13,565) 3,787Properties and

construction 101,028 36,281 265,577 246,682 4,056 2,116Plantation 5,226 7,558 55,682 36,400 (1,955) 1,285Consumer products 87,604 55,838 101,121 70,358 (19,992) (10,932)Investments 3,747 737 299,038 428,562 (6,510) 137,277

480,087 327,192 1,128,861 1,061,055 (37,966) 133,533

21. Contingent liabilities - unsecured

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Guarantees and contingencies relating to borrowings of subsidiaries 70,239 62,700 70,239 62,700

Litigation claims by certain third parties against subsidiaries 4,000 4,400 - -

22. Commitments

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Capital commitments:

Property, plant and equipmentAuthorised but not contracted for 102,900 182,100 900 -Contracted but not provided for in

the financial statements 112,440 124,100 37,440 40,810

215,340 306,200 38,340 40,810Investments

Authorised but not contracted for 11,217 - 10,557 -

226,557 306,200 48,897 40,810

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23. Related parties

Identity of related parties

The Group has a controlling related party relationship with its substantial shareholders.

The Group also has a related party relationship with its associates and with its Directors.

Other related party transactions

Significant related party transactions other than those disclosed elsewhere in the financial statements are as follows:

Group Company2000 1999 2000 1999

RM’000 RM’000 RM’000 RM’000

Subsidiaries

Rental payable - - 858 638Services and maintenance fees payable - - 303 301

Subsidiaries

Administration and support fees receivables - - 1,922 1,987Interest receivables - - 2,618 411

Associate

Purchases and services 24,501 - - -

The Directors are of the opinion that the above transactions have been entered into in the normal course of business and the terms have been established on a negotiated basis.

24. Companies in the Group

The principal activities of the companies in the Group, their places of incorporation and the interest of KUB Malaysia Berhad are shown below:-

Equity InterestName of Company Principal Activities 2000 1999

24.1 Direct Subsidiaries of the Company

KUB Ekuiti Sdn Bhd Investment holding. 100% 100%

KUB Prasarana Sdn Bhd Building and construction of infrastructure works. 100% 100%

Peraharta Sdn Bhd Property development. 100% 100%

Perbiba Sdn Bhd Property development. 100% 100%

Pernida Berhad Distributor of cigarettes. 86% 86%

Peramining Sdn Bhd Investment trading. 100% 100%

Utama Steel Works Sdn Bhd Manufacturing and installation of steel pipes and fittings. 51% 51%

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24. Companies in the Group (continued)Equity Interest

Name of Company Principal Activities 2000 1999

24.2 Subsidiaries of KUB Ekuiti Sdn Bhd

Bina Alam Bersatu Sdn Bhd Civil engineering works, building 55% 55%works and housing development.

ITTAR Sdn Bhd Education and training. 100% 100%

KUB Agrotech Sdn Bhd Plantation and estate management. 100% 100%

KUB Development Berhad Property development and project 100% 100%management.

KUB-Fujitsu Telecommunications Assembling and commissioning 70% 70%(Malaysia) Sdn Bhd of telecommunication equipment.

KUB Gas Sdn Bhd Bottling and trading of liquified 100% 100%petroleum gas.

KUB Power Sdn Bhd Construction of power substations. 100% 100%

KUB Realty Sdn Bhd Property management and 100% 100%investment holding.

KUB Research Sdn Bhd Technical research. 100% 100%

KUB Teknologi Sdn Bhd Trading of computer equipment andprovision of related services. 100% 100%

KUB Telekomunikasi Sdn Bhd Assembling and commissioning oftelecommunication equipment. 100% 100%

KUB Sistem Sdn Bhd Electronic commerce (“EC”) services 60% 60%and solutions and supplying

computer hardware, software and

related services.

KUB Tekstil Sdn Bhd Garment manufacturing and trading. 100% 100%

KUBTrus Sdn Bhd Direct selling. 73.5% 73.5%

Maga Textile (M) Sdn Bhd Garment manufacturing. 100% 100%

Pembinaan Efektif (M) Sdn Bhd Property development. 60% 60%

Tele Dynamics Sdn Bhd Distributor of Toshiba office automation 60% 60%and telecommunications products.

Universiti Tun Abdul Higher education and training. 100% 100%Razak Sdn Bhd

VisionScape Sdn Bhd Electronic billboard advertising. - 100%

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24. Companies in the Group (continued)Equity Interest


24.3 Subsidiaries of Bina Alam Bersatu Sdn Bhd

Cocoa Valley Sdn Bhd Property development. 70% 70%

Apsley Sdn Bhd Investment holding. 100% 100%

Lembayung Sukma Sdn Bhd Property development. 80% 80%

24.4 Subsidiaries of ITTAR Sdn Bhd

ITTAR-IPP (PJ) Sdn Bhd Hospitality education and training. 100% 100%

ITTAR-ILP (Prai) Sdn Bhd Technical and vocational training. 100% 100%

24.5 Subsidiary of KUB Agrotech Sdn Bhd

KUB Sepadu Sdn Bhd Oil palm plantation. 60% 100%

24.6 Subsidiary of KUB Hotel and Resort Management Sdn Bhd

KUB Singgahsana (PJ) Sdn Bhd Hotel management. 100% 100%

24.7 Subsidiary of KUB Telekomunikasi Sdn Bhd

Cybertek (M) Sdn Bhd # Development and trading ofcommunication equipment. 51% -

24.8 Subsidiary of KUB Teknologi Sdn Bhd

VisionScape Sdn Bhd Electronic billboard advertising. 51% -

24.9 Subsidiaries of Tele Dynamics Sdn Bhd

Tele Dynamics Metro Sdn Bhd Distribution of office automationproducts 100% 100%

Tele Portable Sdn Bhd Office equipment exchange 100% 100%

Tele Dynamics Atec Sdn Bhd Distribution of office automationproducts 65% 65%

24.10 Subsidiary of Universiti Tun Abdul Razak Sdn Bhd

United Multimedia Sdn Bhd Trading of multimedia learningand provision of IT related services 100% 100%

24.11 Subsidiary of KUB Realty Sdn Bhd

KUB Realty (PJ) Sdn Bhd Property management 100% 100%

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25. Associates and principal activitiesEquity Interest


25.1 Direct associates of the Company

Mambang Di Awan Sdn Bhd Extraction of tin ore. 37.5% 37.5%

Polyolefins Pipe Bhd Manufacture, marketing and installation 30% 30%of polyethylene and polypropylene

pipes.

Rimba Raya Sdn Bhd Agriculture, tourism and recreational services. 20% 20%

Computer Forms Printing and distributing of computer(Malaysia) Berhad * forms, stock forms and specialised

forms. 32% 32%

25.2 Associates of United Multimedia Sdn Bhd

UMM Nadi Sdn Bhd Development of multimedia learning materials. 30% 30%

UMM Hijau Sdn Bhd Development of multimedia learning materials. 30% 30%

UMM Synergy Corporation Development of multimedia Sdn Bhd learning materials. 30% 30%

UMM BT Media Sdn Bhd Development of multimedia learning materials. 30% 30%

UMM Avex Sdn Bhd Development of multimedia learning materials. 30% 30%

25.3 Associates of KUB Telekomunikasi Sdn Bhd

Q-Telecell (Malaysia) Sdn Bhd # Manufacturing and distribution ofwireless local loop system. 49% -

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26. Dormant companies

Equity InterestName of Company 2000 1999

26.1 Direct subsidiaries of the Company

Gerik Timber Industries Sdn Bhd 100% 100%

KUB Network Sdn Bhd 100% 100%

Pelita Espipi Sdn Bhd 100% 100%

Perdaris Development Sdn Bhd 70% 70%

Perinding Plantations Sdn Bhd 100% 100%

26.2 Subsidiaries of KUB Ekuiti Sdn Bhd

Affluent Vision Sdn Bhd 100% 100%

Hanidel Sdn Bhd 100% 100%

KUBAKI Pte Ltd ** 60% 60%

KUB Drill ing Sdn Bhd 78.4% 78.4%

KUB Hotel and Resort Management Sdn Bhd 100% 100%

KUB Microelectronics Sdn Bhd 78.5% 78.5%

KUB-TIS Controls Sdn Bhd 100% 88.6%Perumahan KUB Sdn Bhd 100% 100%Verein Sdn Bhd 100% 100%

26.3 Subsidiaries of Bina Alam Bersatu Sdn Bhd

Bina Alam Management Sdn Bhd 100% 100%Apsley Sdn Bhd 100% 100%

26.4 Subsidiary of KUB Agrotech Sdn Bhd

Radiant Orchards Sdn Bhd 100% 100%

26.5 Subsidiaries of KUB Development Berhad

Kesina Development Sdn Bhd # 100% -

KUB-Astana Development Sdn Bhd 51% 51%

Adil Perdana Sdn Bhd 70% 70%

26.6 Subsidiaries of KUB Hotel and Resort Management Sdn Bhd

KUB Sajilera Sdn Bhd 100% 100%

KUB Singgahsana (Langkawi) Sdn Bhd 100% 100%

26. Dormant companies (continued)Equity Interest

Name of Company 2000 1999

26.7 Subsidiary of KUB Microelectronics Sdn Bhd

KUB Microelectronics Sales and Service Sdn Bhd 100% 100%

26.8 Subsidiary of KUB Realty Sdn Bhd

KUB Realty (Prai) Sdn Bhd 100% 100%

26.9 Subsidiary of Perbiba Sdn Bhd

Principal Properties Sdn Bhd 100% 100%

26.10 Subsidiary of Peraharta Sdn Bhd

Villa-Annexe Sdn Bhd 100% 100%

26.11 Subsidiaries of Apsley Sdn Bhd

Lembayung Sukma Sdn Bhd 80% 80%

Lembaian Indah Sdn Bhd 50% 50%

26.12 Subsidiary of Lembayung Sukma Sdn Bhd

Lembayung Greens Sdn Bhd 40% 40%

26.13 Direct associates of the Company

Editry Sdn Bhd 41% 41%

Penang Ferries Sdn Bhd 50% 50%

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* The Group’s share of results in Computer Forms (M) Berhad, a company listed on the Kuala LumpurStock Exchange, which has non-coterminous year end has been equity accounted for based on theannouncement of its results.

** The subsidiary is incorporated in Singapore. The financial statements are audited by another firm ofaccountants.

# Acquired during the year.



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27. Acquisition of subsidiaries

Acquisition

i) On 22 May 2000, KUB Development Berhad acquired 100% equity in a subsidiary, KesinaDevelopment Sdn Bhd, for RM3,200,000 satisfied by cash consideration. The acquisition wasaccounted for using the acquisition method of accounting. The subsidiary does not contributeto the consolidated net loss after taxation for the year as it yet to commence operation.

ii) On 21 August 2000, KUB Telekomunikasi Sdn Bhd acquired 51 % equity in a subsidiary,Cybertrek (Malaysia) Sdn Bhd, for RM1,010,000 satisfied by cash consideration. The acquisitionwas accounted for using the acquisition method of accounting. From the date of acquisitionto 31 December 2000, the subsidiary contributed a net loss after taxation of RM374,000 tothe consolidated net loss for the year.

28. Significant events

Since the end of the previous financial year, the Group entered into the following transactions:

i) On 17 February 2000, a wholly owned subsidiary, KUB Telekomunikasi Sdn Bhd (“KUBTel”)entered into a Joint Venture Agreement with Barwaqo Telecommunication Services Co.(“BTS”), a company incorporated in United Kingdom, to resume telecommunication operationsin Somalia via Somatel (Malaysia) Sdn Bhd (“Somatel”). Pursuant to the agreement, KUBTeland BTS will acquire shareholding in Somatel on the basis of 51% and 49% respectively.

ii) On 21 February 2000, a wholly owned subsidiary, KUB Teknologi Sdn Bhd, (“KUBTek”)entered into Shareholders’ Agreement with Octobot-APT (Malaysia) Sdn Bhd (“Octobot”). Pursuant to the agreement, KUB Komunikasi Kreatif Sdn Bhd (“KKK”), a wholly owned subsidiary of KUBTek will be a joint venture company owned by KUBTek and Octobot on thebasis of 51% and 49% respectively.

Subsequent to the agreement, on 9 March 2000, KKK has entered into three other agreements as follows:

a) A debenture agreement with KUB, whereby KUB shall advance a sum of RM38.0 million to finance KKK’s initial start-up working capital requirement;

b) An agreement with Octobot to purchase and install the equipment worth RM36.1 million for KKK’s initial showcase programme; and

c) A sub-license agreement with Octobot whereby Octobot grants a sub-license rights of the use of the technology to develop the showcase programme.

On 11 March 2000, KKK assumed the name of VisionScape Sdn Bhd.

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28. Significant events (continued)

i i i) On 21 August 2000, a wholly owned subsidiary, KUB Telekomunikasi Sdn Bhd,(“KUBTel”)entered into Subscription Agreement (“Agreement”) to subscribe 51% equity in Cybertrek(Malaysia) Sdn Bhd (“Cybertrek”) (formerly known as Mejati Spektrum Sdn Bhd. Cybertrek is acompany which owns the technology that tracks, immobil ises and recovers stolen vehicles through the use of communication networks and global satellite positioning system inMalaysia. The equity participation pursuant to the Agreement is 51% KUBTel and 49% MejatiServices Sdn Bhd.

iv) On 25 April 1997, KUB Malaysia Berhad (“KUB”) entered into a supplemental Sale and Purchase Agreement with Koperasi Usaha Bersatu Malaysia Berhad (in liquidation) (“Koperasi”)whereby part of Koperasi’s assets to be acquired were Malay Reserve and restriction-in-titleland (“the Land”). The acquisition value of the land is RM48.08 million and this value will besatisfied by the issue of 26,711,111 new ordinary shares of RM1 each in KUB at an issueprice of RM1.80 per share. Securities Commission in its letter dated 24 August 2000 hasgranted KUB a further extension to 30 April 2001 to complete the transfer of the land.

v) On 23 January 2001, KUB Teknologi Sdn Bhd entered into a Joint Venture Agreement to subscribe 60% equity for S$300,000 (RM660,000) in Muslimconnect.com Pte Ltd., a companyincorporated in Singapore, with the objective of setting up Muslim internet portals to developa global interconnected community for the advancement of Muslims through commerce,trade and communication over the internet. The proposed subscription of shares in Muslimconnect.com Pte Ltd is currently under finalisation stage.

vi) On 15 February 2001, KUB entered into a Share Sale Agreement (“SSA”) with PengurusanDanaharta Nasional Berhad (”Danaharta”) for the acquisition of a total of 4,590,000 ordinaryshares of RM1.00 each in United Chemicals Industries Berhad (“UCI”) shares representing24.8% of the issued and paid-up share capital of UCI for a cash consideration ofRM10,557,000 satisfied through internally generated funds. The proposed acquisition ispending approval from Foreign Investment Committee (“FIC”) and other relevant authorities.

vii) On 16 February 2001, KUB Ekuiti Sdn Bhd, a wholly-owned subsidiary of KUB MalaysiaBerhad (“KUB”) has disposed 3,378,384 ordinary shares of RM1.00 each representing 100%of the total issued and paid-up capital of Hanidel Sdn Bhd, for a total cash consideration ofRM4 million. The disposal is currently under finalisation stage.

29. Comparative figures

Following the adoption of MASB Standards in the preparation of this set of financial statements, thepresentation and classification of certain items in the financial statements have been amended.Accordingly, comparative amounts for those items have been reclassified and/or expanded toensure comparability with the current financial year.

110 Properties Held

115 Proxy Form

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as at 31 December 2000

110

Properties Held

Net Book Age ofLocation/ Value BuildingAddress Description Usage Area Tenure (RM’000) (years)

KUB MALAYSIA BERHAD

Lot 06268 & 10027, Oil Palm Agricultural 853.9 and Leasehold 1,596 -Mukim of Setiawan, Plantation 305.7 acres (50 yearsDistrict of Dinding, respectively expiring 2021)Perak

Lot 310-315, Shoplots Commercial 9,638 Leasehold 393 19Kuala Kangsar, sq. feet (60 yearsPerak expiring 2021)

Lot 2729 Shoplot Commercial 4,200 Leasehold 209 19Taiping, Perak sq. feet (60 years

expiring 2031)

PTG GK Sawmill Commercial 40 acres Leasehold 1,379 284A/067/73 Factory and (60 yearsGerik, Perak Office expiring 2036)

Lot 8982, 8983, Shopoffice Commercial 5,187 Leasehold 1,640 38984, 461 & 480 sq. feet (99 yearsTown of Tanjung Malim, expiring 2083)Perak

Lot 8978, 8979, Vacant Land Commercial 6,757 Leasehold 8 -8980, 8981 & 441 sq. feet (99 yearsTown of Tanjung Malim, expiring 2083)Perak

KUB REALTY SDN BHD

Lot Nos. 1617, Development Commercial 6,680 Freehold 34,822 -2225 and 1749, sq. metresSection 41, Kuala Lumpur

Lot E-5,E-6,F-17, Terrace Commercial 1,242 Freehold 16,241 5F-18,H-25,H-26, Shoplots sq. metresH-27, H-28 & H-30Pekeliling Business Centre, Kuala Lumpur

PT No. 51, Section 16, Shoplot Commercial 915 Leasehold 1,767 10Town and District of sq. metres (66 yearsKota Bharu, Kelantan expiring 2061)

Lot No. 736, Shoplot Commercial 1,708 Leasehold 450 3Mukim Bandaran sq. feet (99 yearsKota Tinggi, Johor expiring 2093)

PT No. TLO 184 Shoplot Commercial 1,470 Leasehold 282 5Town of Mersing, sq. feet (99 yearsJohor expiring 2088)

PT No. 3722 to 3728, Office Building Commercial 16,065 Freehold 21,772 6Mukim of Damansara, sq. feet District of Petaling,Selangor

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Properties Heldas at 31 December 2000 (continued)


KUB REALTY PJ SDN BHD

KUB.com, Block D, Office Commercial 18,363 Freehold 71,387 2Level Ground, Level 1, Building sq. metresLevel 6 to Level 23, Megan Phileo Avenue,Jalan Yap Kwan Seng,Kuala Lumpur

KUB.com, Block D, Car Park Commercial 12,490 Freehold 5,900 24 Levels of Car Park Podium sq. metresPodium, Megan Phileo Avenue,Jalan Yap Kwan Seng,Kuala Lumpur

KUB GAS SDN BHD

Pulau Indah Industrial Commercial 8.06 Pending 5,270 -Industrial Park, Land acres issuanceWest Port, Port Klang, of titleSelangor

KUB DEVELOPMENT BERHAD

HS(M) 2079 Lot No. 3617, Agricultural Agricultural 6 acres Leasehold 2,298 -Mukim of Sungai Buloh, Land (expiring 2071)District of Petaling, Selangor

No. 16, Batu 16, Development Residential 11.4 acres Leasehold 2,404 -Phase 5B, Rawang, and (99 years Selangor Commercial expiring 2093)

EMR 2784, Lot 994, Mixed Residential 10.8 acres Freehold 4,224 -Mukim of Cheras, DevelopmentDistrict of Hulu Langat, Selangor

Geran 36338, Lot No 55, Agricultural Agricultural 145.23 acres Freehold 5,064 -Mukim of Tawar, LandDistrict of Baling, Kedah

H.S.(D) 4280, P.T. 606, Development Industrial 16.82 acres Leasehold 198 -Mukim of Serting Ulu (99 yearsDistrict of Jempol expiring 2083)Negeri Sembilan

MAGA TEXTILE (M) SDN BHD

Bayan Lepas Free Factory Industrial 46,941 Leasehold 597 20Industrial Zone, sq. feet (60 yearsPhase 3, Pulau Pinang expiring 2040)

Lot Nos. 876, Factory Industrial 71,095 Freehold 1,442 105773 and 5774, sq. feetMukim 15,District of Seberang,Prai Tengah, Pulau Pinang

Nos. 10 & 12, Terrace Residential 333 Freehold 94 8Lorong Sejahtera 29, House sq. metresTaman IndustriCeruk To' Kun, Alma,14000 Bukit Mertajam, Pulau Pinang

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as at 31 December 2000 (continued)Properties Held


KUB TEKSTIL SDN BHD

Lot E2(6), Factory Commercial 3.8 acres Leasehold 2,993 4Kawasan Perindustrian (for 66Pengkalan Chepa II, years)Mukim of Panchor, District of Kemumim,16100 Kota Bharu, Kelantan

BINA ALAM BERSATU SDN BHD

Lot Nos. 30960 2 terrace Industrial 251 Leasehold 570 14and 30961, factory lots sq. metres (99 yearsMukim and rectangular in per lot expiring 2086)District of Petaling, shape with Selangor building erected

PT Nos. 1101-1121, 19 plots of Commercial 1,171 acres Leasehold 2,786 6Mukim of Belanja, development and (1,158.3 acres (99 years District of Kinta, land and 2 Residential agriculture expiring 2095) Perak plots of status and

commercial land 12.7 acrescommercial status)

PT No. 9139, End terrace Commercial 1,920 Freehold 274 17Mukim of Setapak, shoplot sq. feetDistrict of Gombak, rectangular in Selangor shape with,

3-storey shopoffice

Lot 806, Development Commercial 354,246 Freehold 46 -Mukim of Batu Berendam, sq. feet Melaka

Lot 8713U, Title A parcel of Commercial 2,149 Leasehold 192 -No. H.S.(D) KA, limited sq. metres (99 years 30729 Ipoh, commercial expiring 2092) District of Kinta, Perak (free-standing)

development land

Lot 30713, 30701, 4 apartments Residential 266.36 Leasehold 172 930803, 30908, sq. metres (95 yearsTaman Batu Permai, expiring 2086) Kuala Lumpur

Lot 6036 and 9934, Double-storey Residential 111 Leasehold 101 9Taman Batu Permai, terraced sq. metres (95 yearsKuala Lumpur house expiring 2086)

PT No. 19355, Agricultural Agricultural 1,654 Freehold 347 -Mukim of Batu Selangor, Land acresGombak, Selangor

2-8-5 Menara, Condominium Residential 1,410 Strata 348 2Bukit Ceylon, Jalan Ceylon sq. feet titleKuala Lumpur

C-4-5, Condominium Residential 120.10 Strata 181 2Idaman Putera Condo, sq. metres Title7, Jalan 6/21D,Medan Idaman,Kuala Lumpur

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Properties Heldas at 31 December 2000 (continued)


PERAHARTA SDN BHD

Bangunan Sri Kinta, 4-storey podium Commercial 15,667.4 Grant in 13,671 16Jalan Sultan Idris Shah, block and 9 sq. metres perpetuityIpoh, Perak storey tower block

Wisma Gerik, 4 1/2-Storey Commercial 2,050.0 Leasehold 1,044 25Jalan Sultan Iskandar, Building sq. meters (60 yearsGerik, Perak expiring 2035)

APM factory, Factory Commercial 3,523 Leasehold 853 24Jelapang Industrial Estate, sq. metres (60 yearsIpoh, Perak expiring 2036)

Nos. 26, 28 and 39, 3 Units of Commercial 5,120 Leasehold 421 9Persiaran Orkid 1, Double-Storey & Residential sq. feet (99 yearsTaman Orkid, Shoplots expiring 2090)Batu Gajah, Perak

Nos. 24, 26, 28, 30, 4 Units of Commercial 6,337 Leasehold 587 7Laluan Rokan 15, Shophouses & Residential sq. feet (99 yearsPekan Razaki, expiring 2090)31350 Ipoh, Perak

Industrial Estate Industrial Land Industrial 21,780 Pending 54 -Seri Manjung, sq. feet issuance ofPerak title

Wisma Espipi, Commercial Commercial 1,712.4 Malay 2,649 7Kg. Baru, Kuala Lumpur Building sq. metres Reserve

KUB SEPADU SDN BHD

Lot 1, Oya/Sibu, Oil Palm Agricultural 6,741 Leasehold 6,052 -Land District, Plantation acres (60 yearsSibu Division, expiring 2050)Sarawak

Lot 5, Oya/Sibu Oil Palm Agricultural 2,570 Leasehold 1,560 -Land District, Plantation acres (60 yearsSibu Division, expiring 2050)Sarawak

Lot 6, Oya/Sibu Oil Palm Agricultural 1,388 Leasehold 1,388 -Land District, Plantation acres (60 yearsSibu Division, Sarawak expiring 2050)

Lot 221, Block 7 Oil Palm Agricultural 1.053 Leasehold 81 -Oya Dalat Land District, Plantation ha (27 years

expiring 2024)


expiring 2024)


expiring 2030)

KUB AGROTECH SDN BHD

PTD No. 3545, Oil Palm Agricultural 2,363 Leasehold 1,932 -Mukim of Paloh, Plantation acres (99 yearsPTD No. 3796, expiring 2086)Mukim of Kahang,District of Kluang, Johor

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KUB AGROTECH SDN BHD (continued)

Ladang Sg Yong, Oil Palm Agricultural 4,200 Leasehold 5,000 -PT No 4901, Plantation acres (99 yearsMukim of Kahang expiring 2093)PT No 26005 & 26006,District of Kluang, Johor

TELE DYNAMICS SDN BHD

44, Jalan Molek 2/1, 2 Storey Commercial 1,920 Freehold 317 9Taman Molek, Shophouses sq. feet81100 Johor Bahru, Johor

Lot 188, Industrial Commercial 67,404 Freehold 4,246 -Hicom Glenmarie Land sq. feetIndustrial Park,Shah Alam, Selangor

PERNIDA BERHAD

Lot Nos. 2891, 2894, Mining Land Mining 79.32 acres Freehold 1,103 -2983, 2984, 2992, 2993, 2995, 2996, 3001, 3002, 3005, 3008, 3011, 3039, 3040, to 3042, 3044, 3054, 3055, 3057, 3058, 3277,3794 to 3796, 3812, Mukim of Bidor, District of Batang Padang, Perak

PEMBINAAN EFEKTIF (M) SDN BHD

PT No. 5283 and 5284, Development Commercial 151,191 Leasehold 9,140 -Mukim of Petaling, & 39,255 (99 yearsDistrict of Kuala Lumpur, sq. metres expiring 2094)Federal Territory

UTAMA STEEL WORKS SDN BHD

H.S. (D) ka 1337/85 Factory and Industrial 9.6 Leasehold 2,699 15Lot 134905, Office Building acres (60 yearsMukim of Hulu Kinta, expiring 2045)Perak

ADIL PERDANA SDN BHD

Geran 32390, Development Residential 209.85 Freehold 13,503 -Lot No 272, 273 & 274, acresMukim of Telui Kiri,District of Kuala Muda, Kedah

KESINA DEVELOPMENT SDN BHD

Lot No 364-473, Development Residential 10 Freehold 4,025 -Mukim of Cicha, acres Malay ReserveDistrict of Kota Bharu, LandKelantan

as at 31 December 2000 (continued)Properties Held

Number of Shares Held

PROXY FORM

I/We NRIC No

of(Fu l l Address )

be ing a member/members of KUB MALAYSIA BERHAD hereby appoint CHAIRMAN OF THE MEETING* ,

o r NR IC No

of(Fu l l Address )

o r fa i l i ng h im NRIC No

of(Fu l l Address )

as my/our proxy to attend and vote for me/us on my/our behalf at the 36th Annual General Meeting of the Companyto be held on Friday, 15 June 2001 and at any adjournment thereof.

* I f you wish to appoint other person(s) as your proxy/proxies, kindly delete the words “CHAIRMAN OF THE MEETING” and inser t the name(s ) o f the des i red person(s ) .

To adopt the Audited Accounts of the Company and Group and the

Reports of the Directors and Auditors thereon

To re-elect the Directors retiring under Article 102, Articles of Association

of the Company

i) Datuk Hassan Harun

ii) Dato’ Syed Amin Aljeffri

i i i) Dato’ Ir. Haji Harun Ahmad Saruji

To approve the Directors’ fees for the year 2000

To re-appoint Messrs KPMG Desa Megat & Co as Auditors of the

Company and to authorise the Directors to fix their remuneration

To give authority to the Directors to issue shares under Section 132D of

the Companies Act, 1965.

With refence to the Agenda set out in the Notice of the

Meeting, please indicate an “X” in the spaces provided

above on how you wish your vote to be cast.

Signed this.............day of...............2001.

Signature/Seal

Annual General Meeting(Please see the notes below before completing this form)36th

(B lock Le t te rs )



KUB MALAYSIA BERHAD(COMPANY NO. 6022-D)

NOTE:-

1. A member of the Company entitled to attend and vote at the abovementioned Meeting is entitled to appoint one other person or persons,whether a member or not as his/her proxy/proxies to attend and vote inhis/her stead. Where a member appoints two or more proxies, the membershall specify the proportion of the member’s shareholding to be representedby each proxy.

2. The instrument appointing a proxy shall be in writing under the hand of theappointer or his/her attorney duly authorised or if the appointer is a corporation, either under its common seal or the hand of its attorney.

3. The Proxy Form must be deposited at the office of the Company’s ShareRegistrar, Malaysian Share Registration Services Sdn Bhd, 7th Floor,Exchange Square, Bukit Kewangan, 50200 Kuala Lumpur by hand or fax to 03-2063736 not less than twenty-four (24) hours before the time for holding the Meeting or any adjournment thereof.

Resolution 1

Resolution 2

Resolution 3

Resolution 4

Resolution 5

Resolution 6

Resolution 7

RESOLUTIONS

My/our proxy is to vote as indicated below:

FOR AGAINST

Fold this flap for sealing

Then fold here

First fold here

KUB Malaysia Berhad (6022-D)Pendaftar SahamMalaysian Share Registration Services Sdn Bhd (378993-D)Tingkat 7, Exchange SquareBukit Kewangan50200 Kuala Lumpur

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Documents

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