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KPJ Healthcare Berhad
Section 06 Financial Statements
FINANCIAL STATEMENTS
- DIRECTORS' RESPONSIBILITY STATEMENT
- DIRECTORS' REPORT
- STATEMENT BY DIRECTORS
- STATUTORY DECLARATION
- INDEPENDENT AUDITORS' REPORT
- STATEMENTS OF COMPREHENSIVE INCOME
- STATEMENTS OF FINANCIAL POSITION
- CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
- COMPANY STATEMENT OF CHANGES IN EQUITY
- STATEMENTS OF CASH FLOWS
- NOTES TO THE FINANCIAL STATEMENTS
Integrated Annual Report 2022
www.kpjhealth.com.my
DIRECTORS' RESPONSIBILITY STATEMENT
FOR THE AUDITED FINANCIAL STATEMENTS
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The Directors are required by the Companies Act 2016 (CA) to prepare the financial statements for each financial year which have been made out in accordance with applicable Malaysian Financial Reporting Standards (MFRSs), the International Financial Reporting Standards (IFRSs), and the requirements of the CA in Malaysia.
The Directors are responsible to ensure that the financial statements give a true and fair view of the state of affairs of the Group and of the Company at the end of the financial year, and of the results and cash flows of the Group and of the Company for the financial year.
In preparing the financial statements, the Directors ensured that the Management has:
- adopted appropriate accounting policies and applied them consistently;
- made judgements and estimates that are reasonable and prudent; and
- prepared the financial statements on a going concern basis.
The Directors are responsible to ensure that the Group and the Company keep accounting records which disclose the financial position of the Group and of the Company with reasonable accuracy, enabling them to ensure that the financial statements comply with the CA.
The Directors are responsible for taking such steps as are reasonably open to them to safeguard the assets of the Group and of the Company, and to detect and prevent fraud and other irregularities.
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KPJ Healthcare Berhad
Section 06 Financial Statements
DIRECTORS' REPORT
The Directors are pleased to submit their report and the audited financial statements of the Group and of the Company for the financial year ended 31 December 2022.
PRINCIPAL ACTIVITIES
The principal activities of the Company are investment holding and provision of management services to subsidiaries. The principal activities of the subsidiaries are mainly the operation of specialist hospitals.
Details of the principal activities of the subsidiaries are set out in Note 22 to the financial statements.
There have been no significant changes in the nature of these activities during the financial year.
ULTIMATE HOLDING CORPORATION
The Directors regard Johor Corporation, a body corporate established under the Johor Corporation Enactment No. 4, 1968 (as amended by the Enactment No. 5, 1995), as the ultimate holding corporation.
FINANCIAL RESULTS | |||
Group | Company | ||
RM'000 | RM'000 | ||
Profit before tax | 263,532 | 99,596 | |
Tax | (73,208) | 254 | |
Profit for the financial year from continuing operations | 190,324 | 99,850 | |
Loss for the financial year from discontinued operations | (7,671) | - | |
Net profit for the financial year | 182,653 | 99,850 | |
Profit for the financial year attributable to: | |||
Owners of the Company | |||
- | continuing operations | 171,992 | 99,850 |
- | discontinued operations | (5,011) | - |
Non-controlling interest | |||
- | continuing operations | 18,332 | - |
- | discontinued operations | (2,660) | - |
Profit for the financial year | 182,653 | 99,850 |
Integrated Annual Report 2022
www.kpjhealth.com.my
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DIRECTORS' REPORT (CONTINUED)
RESERVES AND PROVISIONS
All material transfers to or from reserves and provisions during the financial year are shown in the financial statements.
DIVIDENDS
The dividends paid or declared by the Company since 31 December 2021 are as follows:
RM | |
In respect of the financial year ended 31 December 2022: | |
First interim single tier dividend of 0.20 sen per share on 4,342,734,981 ordinary shares, declared on 18 | |
February 2022 and paid on 22 April 2022. | 8,685,470 |
Second interim single tier dividend of 0.25 sen per share on 4,343,203,561 ordinary shares, declared on 26 | |
May 2022 and paid on 29 July 2022. | 10,858,009 |
Third interim single tier dividend of 0.55 sen per share on 4,343,221,161 ordinary shares, declared on 29 | |
August 2022 and paid on 21 October 2022. | 23,887,716 |
Fourth interim single tier dividend of 1.00 sen per share on 4,343,221,161 ordinary shares, declared on 23 | |
November 2022 and paid on 28 December 2022. | 43,432,212 |
86,863,407 | |
The Directors did not recommend the payment of a final dividend in respect of the financial year ended 31 December 2022.
TREASURY SHARES
On 9 July 2020, at the Annual General Meeting, the shareholders of the Company renewed their approval for the Company to buy-back its own shares of up to ten percent (10%) of the issued and paid-up share capital of the Company.
The Company did not purchase any ordinary shares from the open market on Bursa Malaysia Securities Berhad ("Bursa Malaysia") during the financial year.
As at 31 December 2022, the Company held a total of 162,306,700 of its 4,505,527,861 issued ordinary shares as treasury shares. Such treasury shares are held at a carrying amount of RM155,310,152 at an average price of RM0.96 per share. The repurchase transactions were financed by internally generated funds. The shares repurchased are held as treasury shares and accounted for in accordance with the requirement of Section 127 of the Companies Act 2016.
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KPJ Healthcare Berhad
Section 06 Financial Statements
DIRECTORS' REPORT (CONTINUED)
ISSUE OF SHARES AND DEBENTURES
During the financial year, the Company's issued share capital was increased by RM16,808,088 through the issuance of 16,368,760 ordinary shares pursuant to the exercise of the Employees' Share Option Scheme ("ESOS") at an exercise price of RM0.91 per ordinary share.
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing issued ordinary shares of the Company.
During the financial year, the Group made an issuance of RM650.0 million from its Sukuk Wakalah Programme. The Group also made payments amounting RM400.0 million for its Sukuk Murabahah Programme.
EMPLOYEES' SHARE OPTION SCHEME
The Company implemented ESOS in 2015 for a period of 5 years for eligible employees and Directors of the Group. In 2019, the Board of Directors gave its approval for the ESOS period to be extended to another 3 years and expiring on 27 February 2023. Details of ESOS are set out in Note 37 to the financial statements.
DIRECTORS
The Directors in office during the financial year and during the period from the end of the financial year to the date of the report are:
Datuk Md Arif Bin Mahmood | (Chairman, appointed on 1 April 2022) |
Dato' Mohd Shukrie Bin Mohd Salleh | (Managing Director, appointed on 1 April 2022, resigned on 7 September 2022) |
Dato' Mohd Redza Shah Bin Abdul Wahid# | |
Prof Dato' Dr. Azizi Bin Haji Omar# | |
Mohamed Ridza Bin Mohamed Abdulla | |
Khairuddin Bin Jaflus# | |
Rozaini Bin Mohd Sani | |
Shamsul Anuar Bin Abdul Majid | |
Annie Binti Rosle | |
Hisham Bin Zainal Mokhtar | |
Lee Lai Fan | (Appointed on 7 July 2022) |
Dato' Yusli Bin Mohamed Yusoff | (Deceased on 10 March 2022) |
Tan Sri Dr Ali Bin Hamsa | (Resigned on 31 March 2022) |
Ahmad Shahizam Bin Mohd Shariff# | (Resigned on 31 March 2022) |
Lydia Anne Abraham | (Retired on 28 June 2022) |
- Directors who are also Directors of the subsidiaries
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KPJ Healthcare Bhd published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 11:32:37 UTC.