2008laporan tahunan - berjaya tahunan. 1 corporate profile 2 corporate information 3 profile of...

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  • ANNUAL REPORTLAPORAN TAHUNAN2008

  • 1 CorporateProfile

    2 CorporateInformation

    3 ProfileofDirectors

    10 ChairmansStatementand ReviewofOperations

    36 CorporateStructure

    38 GroupFinancialSummary

    39 GroupFinancialHighlights

    40 AuditCommitteeReport

    43 Statementon CorporateGovernance

    47 StatementonInternalControl

    49 FinancialStatements

    151 ListofProperties

    Contents

    ThecorporatelogocomprisesthewordBERJAYAingoldandasymbolmadeupof

    closelyinterwovenBsinrichcobaltbluewithgoldliningaroundthecircumferenceand

    agolddotinthecentre.

    BERJAYAmeanssuccessinBahasaMalaysiaandreflectsthesuccessandMalaysian

    character of the Berjaya Corporations core businesses. The intertwining Bs of the

    symbolrepresentourstrongfoundationsandtheconstantsynergytakingplacewithin

    theBerjayaCorporationgroupofcompanies.EachBfacesadifferentdirection,depicting

    thevariedstrengthsofthecompaniesthatmakeuptheBerjayaCorporationgroupof

    companies.

    166 MaterialContracts

    166 AdditionalInformation

    167 GroupAddresses

    171 RecurrentRelatedParty Transactionsof RevenueNature

    178 StatementofDirectors Shareholdings

    180 StatisticsonSharesand ConvertibleSecurities

    182 NoticeofAnnual GeneralMeeting

    184 StatementAccompanying NoticeofAnnual GeneralMeeting

    FormofProxy

  • Berjaya Corporation Berhad (554790-X) Annual Report 2008

    Corporate Profile

    In October 1988, following a major restructuring, Berjaya Group Berhad

    (then known as Inter-Pacific Industrial Group Berhad) became the holding

    company of Berjaya Industrial Berhad.

    Inter-Pacific Industrial Group Berhad (formerly known as Raleigh Berhad)

    was incorporated in 1967 as a bicycle manufacturer. In 1969, the Company

    gained official listing on Bursa Malaysia Securities Berhad (Bursa

    Securities).

    Berjaya Corporation Berhad assumed the listing status of Berjaya Group

    Berhad on the Main Board of Bursa Securities upon the completion of the

    group restructuring exercise in October 2005 and the listing of the new

    shares on 3 January 2006.

    With a total employee strength of 16,000, the Group is a diversified entity

    engaged in the following core businesses:

    Consumer Marketing and Direct Selling;

    Financial Services;

    Vacation Timeshare, Hotels, Resorts & Recreation Development;

    Property Investment and Development;

    Gaming and Lottery Management;

    Food & Beverage; and

    Investment Holding and others.

    The Berjaya Corporation group of companies history dates back to 1984 when the Chairman/

    Chief Executive Officer, Tan Sri Dato Seri Vincent Tan Chee Yioun acquired a major controlling

    stake in the shares capital of Berjaya Industrial Berhad (originally known as Berjaya Kawat

    Berhad) from the founders, Broken Hill Proprietary Ltd, Australia and National Iron & Steel Mills,

    Singapore. The shareholding change also resulted in a major change in the business, direction

    and the dynamic growth of a diversified conglomerate under the flagship of Berjaya Corporation

    Berhad.

    Berjaya Corporation Berhad (554790-X) Annual Report 2008

    Berjaya Tioman Beach, Golf & Spa Resort, Pahang.

    Property development projects in Bukit Jalil, Kuala Lumpur.

  • Berjaya Corporation Berhad (554790-X) Annual Report 2008

    Corporate Information

    BOARD OF DIRECTORS

    Tan Sri Dato Seri Vincent Tan Chee YiounChairman/Chief Executive Officer

    Tan Sri Dato Tan Chee SingDeputy Chairman

    Executive DirectorsDato Robin Tan Yeong ChingChan Kien SingFreddie Pang Hock ChengRayvin Tan Yeong SheikVivienne Cheng Chi FanDato Azlan Meah Bin Hj Ahmed Meah

    Non-Independent Non-Executive DirectorDatuk Robert Yong Kuen Loke

    Independent Non-Executive DirectorTan Sri Datuk Abdul Rahim Bin Haji DinDato Suleiman Bin Mohd NoorDato Hj Md Yusoff @ Mohd Yusoff Bin JaafarMohd Zain Bin AhmadDatuk Seri Panglima Mohd Annuar Bin Zaini

    AUDIT COMMITTEE

    Chairman/Independent Non-Executive DirectorDato Suleiman Bin Mohd Noor

    Independent Non-Executive DirectorsTan Sri Datuk Abdul Rahim Bin Haji DinDato Hj Md Yusoff @ Mohd Yusoff Bin Jaafar

    Non-Independent Non-Executive DirectorDatuk Robert Yong Kuen Loke

    SECRETARIES

    Su Swee Hong (MAICSA No. 0776729)Gan Swee Peng (MAICSA No. 7001222)

    SHARE REGISTRAR

    Berjaya Registration Services Sdn BhdLot 06-03 Level 6, East WingBerjaya Times SquareNo. 1, Jalan Imbi55100 Kuala LumpurTel : 03 - 2145 0533Fax : 03 - 2145 9702

    AUDITORS

    Ernst & YoungChartered AccountantsLevel 23A, Menara MileniumJalan DamanlelaPusat Bandar Damansara50490 Kuala Lumpur

    REGISTERED OFFICE

    Lot 13-01A, Level 13 (East Wing)Berjaya Times SquareNo. 1, Jalan Imbi55100 Kuala LumpurTel : 03 - 2149 1999Fax : 03 - 2143 1685

    PRINCIPAL BANKERS

    CIMB Bank BerhadAmBank (M) BerhadRHB Bank BerhadOCBC Bank (M) BerhadMalayan Banking BerhadAffin Bank BerhadEON Bank BerhadThe Bank of Nova Scotia Berhad

    STOCK EXCHANGE LISTING

    Main Board of Bursa Malaysia Securities Berhad

    STOCK SHORT NAME

    BJCORP (3395)

    PLACE OF INCORPORATION AND DOMICILE

    Malaysia

    Berjaya Redang Beach & Spa Resort, Terengganu. Berjaya Langkawi Beach & Spa Resort, Kedah.

  • Berjaya Corporation Berhad (554790-X) Annual Report 2008

    Profile of Directors

    TAN SRI DATO SERI VINCENT TAN CHEE YIOUN

    56 years of age, MalaysianChairman/Chief Executive Officer

    TAN SRI DATO TAN CHEE SING

    53 years of age, MalaysianDeputy ChairmanNon-Independent Non-Executive

    He was appointed to the Board of the Company on 15 September 2005 as Chairman/Chief Executive Office (CEO).

    He is a businessman and entrepreneur with varied interests in property development and investment, gaming, stockbroking, manufacturing, trading, hospitality, Internet-related businesses, utilities, media, telecommunications, insurance and education through various public and private companies namely, Berjaya Corporation group of companies, Berjaya Media Berhad (formerly known as Nexnews Berhad), Matrix International Berhad, MOL.com Berhad, MOL AccessPortal Berhad, Informatics Education Ltd, Intan Utilities Berhad and U Television Sdn Bhd (formerly known as U Telecom Media Holdings Sdn Bhd and MiTV Corporation Sdn Bhd).

    He is also the Chairman of Berjaya Media Berhad, Berjaya Times Square Sdn Bhd, 7-Eleven Malaysia Sdn Bhd (formerly known as Convenience Shopping Sdn Bhd), the owner of the 7-Eleven franchise in Malaysia and U Mobile Sdn Bhd, a new 3G mobile phone operator in Malaysia and the Managing Director/CEO of Sports Toto Malaysia Sdn Bhd.

    He also holds directorships in Berjaya Hills Berhad, Berjaya Vacation Club Berhad, Berjaya Golf Resort Berhad, Bukit Kiara Resort Berhad as well as several other private limited companies including Sun Media Corporation Sdn Bhd.

    His brother, Tan Sri Dato Tan Chee Sing, and his sons, Dato Robin Tan Yeong Ching and Rayvin Tan Yeong Sheik, are also members of the Board.

    Tan Sri Dato Seri Vincent Tan Chee Yioun is a member of the Remuneration Committee of the Company.

    He was appointed to the Board of the Company as Deputy Chairman on 15 September 2005.

    He is a businessman and entrepreneur with extensive experience in property development, restaurant/resort management, insurance, trading, gaming and stockbroking through his interests in various public and private companies.

    Currently, he is also the Deputy Chairman of Berjaya Land Berhad, Executive Vice-Chairman of TT Resources Berhad, Group Chief Executive Officer of Dijaya Corporation Berhad and Chief Executive Officer of Tropicana Golf & Country Resort Berhad. He also holds directorships in Berjaya Capital Berhad, Cosway Corporation Berhad, Bukit Kiara Resort Berhad, Tioman Island Resort Berhad, KDE Recreation Berhad and Berjaya Golf Resort Berhad.

    His brother, Tan Sri Dato Seri Vincent Tan Chee Yioun, and his nephews, Dato Robin Tan Yeong Ching and Rayvin Tan Yeong Sheik, are also members of the Board.

    Tan Sri Dato Tan Chee Sing is a member of the Nomination Committee of the Company.

  • Berjaya Corporation Berhad (554790-X) Annual Report 20084

    CHAN KIEN SING

    52 years of age, MalaysianExecutive Director

    Profile of Directors

    DATO ROBIN TAN YEONG CHING

    34 years of age, MalaysianExecutive Director

    He was appointed to the Board of the Company as an Executive Director on 21 December 2006. He graduated with a Bachelor of Social Science degree in Accounting/Law from the University of Southampton, United Kingdom, in 1995.

    He joined Berjaya Group Berhad in 1995 as an Executive and subsequently became the General Manager, Corporate Affairs in 1997.

    Currently, he is the Chief Executive Officer of Berjaya Sports Toto Berhad and an Executive Director of Sports Toto Malaysia Sdn Bhd. He is also a Director of Qinetics Solutions Berhad, Berjaya Sompo Insurance Berhad, TMC Life Sciences Berhad and the Chairman of MOL.com Berhad. He also holds directorships in several other private limited companies in the Berjaya Corporation group of companies.

    His father, Tan Sri Dato Seri Vincent Tan Chee Yioun, his uncle, Tan Sri Dato Tan Chee Sing, and his brother, Rayvin Tan Yeong Sheik, are also members of the Board.

    He was appointed to the Board of the Company as an Executive Director on 15 September 2005.

    He is a member of The Malaysian Institute of Certified Public Accountants and Malaysian Institute of Accountants. Having articled with Messrs Peat Marwick Mitchell from 1975 to 1981, he subsequently joined Arab-Malaysian Merchant Bank