Company No:

669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2010
The Directors have pleasure in submitting their report together with the audited
financial statements of the Company for the year ended 31 December 2010.
PRINCIPAL ACTIVITIES
The Company was incorporated on 22 June 2005 and has yet to commence
operation as at 31 December 2010.
FINANCIAL RESULTS
RM
Net loss for the year
Accumulated losses brought forward
Accumulated losses carried forward

(4,508)
(10,730)
(15,238)

RESERVES AND PROVISIONS

There were no material transfers to or from reserves and provisions during the
financial year.
DIVIDENDS
No dividend has been paid or declared since the end of previous financial year.
The directors do not recommend any dividend in respect of the current financial
year.
SHARE CAPITAL
There was no movement in the shares of the Company during the financial year.

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
DIRECTORS OF THE COMPANY
Directors who served since the date of last report until the date of this report
made are: LEE HOO SON
UMAR BIN ALUS
The holdings in the ordinary shares of the Company of those who were directors
at year end are as follows:Number of ordinary shares of
RM 1 each

LEE HOO SON

UMAR BIN ALUS

As at
1.1.20
10
1
1

Bough
t
-

Sold
-

As at
31.12.2
010
1
1

DIRECTORS BENEFITS
Since the end of 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 emoluments received 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.
There were no arrangements during and at the end of the financial year, which
had the object of enabling directors of the Company to acquire benefits by
means of the acquisition of shares in, or debentures of the Company or any
other body corporate.
STATUTORY INFORMATION ON FINANCIAL STATEMENT
Before the financial statements of the Company were made out, the Directors
took reasonable steps:
i)

to ascertain that action had been taken in relation to the writing-off of

bad debts and the making of allowances for doubtful debts and
satisfied themselves that all known bad debts had been written off and
that adequate allowances has been made for doubtful debts.

ii)

to ensure that any current assets which were unlikely to realise their
book value in the ordinary course of business were written down to an
amount which they might be expected so to realise.
2

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
STATUTORY INFORMATION ON FINANCIAL STATEMENT (CONTD)
At the date of this report, the Directors are not aware of any circumstances
which would render:i)

the amount written off for bad debts or the amount of allowances for
doubtful debts in the financial statements of the Company inadequate
to any substantial extent;

ii)

the values attributed to current assets in the financial statements of

the Company misleading;

iii)

the adherence to the existing method of valuation of assets or

liabilities of the Company misleading or inappropriate.

No contingent liability or other liability has become enforceable or are likely to

become enforceable within the period of twelve months after the end of the
financial year which, in the opinion of the Directors, will or may affect the ability
of the Company to meet its obligations as and when they fall due.
At the date of this report:
i)

there are no charges on the assets of the Company that have arisen
since the end of the financial year to secure the liabilities of any other
person, and

ii)

there are no contingent liabilities in respect of the Company which

have arisen since the end of the financial year.

OTHER STATUTORY INFORMATION

The Directors state that:

At the date of this report, they are not aware of any circumstances not otherwise
dealt with in this report or the financial statements, which would render any
amount stated in the financial statements misleading.
In the opinion of the Directors:
a) the results of the Companys operations during the financial year were not
substantially affected by any item, transaction or event of a material and
unusual nature; and
b) there has not arisen in the interval between the end of the financial year and
the date of this report any item, transaction or event of a material and
unusual nature likely to affect substantially the results of the operations of
the Company for the current financial3 year in which this report is made.

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
AUDITORS
The retiring Messrs. ARIFIN AHMAD & CO, have indicated their willingness to be
re-appointed in accordance with Section 172(2) of the Companies Act, 1965.
Signed in accordance with a resolution of the directors:

LEE HOO SON

Director

UMAR BIN ALUS

Director

Sitiawan
Date :

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
STATEMENT BY DIRECTORS PURSUANT TO
SECTION 169(15) OF THE COMPANIES ACT, 1965
We, LEE HOO SON and UMAR BIN ALUS, being the directors of ANTARA
BIJAK SDN BHD., state that, in our opinion, the financial statements set out on
pages 9 to 16 are drawn up in accordance with Private Entity Reporting
Standards in Malaysia and the provisions of the Companies Act, 1965 so as to
give a true and fair view of the state of affairs of the Company as at 31
December 2010 and of its results and cash flows for the financial year ended on
that date.

Signed in accordance with a resolution of the directors:

LEE HOO SON

Director

UMAR BIN ALUS

Director

Sitiawan
Date :
5

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
DECLARATION PURSUANT TO
SECTION 169(16) OF THE COMPANIES ACT, 1965

I, LEE HOO SON, being the director primarily responsible for the financial
management of ANTARA BIJAK SDN. BHD., do solemnly and sincerely declare
that the financial statements set out on pages 9 to 16 are, in my opinion, 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

LEE HOO SON

I/C:520717-08-5611 at Sitiawan

in the state of Perak Darul Ridzuan

) LEE HOO SON

Before me:

Commissioner for Oaths

Sitiawan
Date :

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
BALANCE SHEET AS AT 31 DECEMBER 2010
2010
RM

Note

2009
RM

ASSETS
Current Assets
Cash and bank balances

2
2

2
2

2
(15,238)
(15,236)

2
(10,730)
(10,728)

2,988
12,250
15,238

5,300
5,430
10,730

TOTAL ASSETS
EQUITY AND LIABILITIES
Equity attributable to the shareholders of the Company
Share capital
6
Accumulated losses
LIABILITIES
Current Liabilities
Other payables and accruals
Amount due to director

7
8

TOTAL EQUITY AND LIABILITIES

The notes on pages 13 to 16 forms part of these financial statements.

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
INCOME STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010
2010
RM

NOTE

2009
RM

Revenue

Cost of sales

Other operating income

Total income

Administration expenses

(4,508)

(1,930)

Loss fromoperation

(4,508)

(1,930)

Fnance cost
Loss before taxation

(4,508)

(1,930)

Taxation

10

(4,508)

(1,930)

Loss after taxation

The notes on pages 13 to 16 forms part of these financial statements.

10

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2010
Share
Capital
RM

Accumulated
Losses
RM

Total

(8,800)

(8,798)

(1,930)

(1,930)

(10,730)

(10,728)

(4,508)

(4,508)

(15,238)

(15,236)

At 31 December 2008
Net loss for the year

At 31 December 2009

Net loss for the year

At 31 December 2010

The notes on pages 13 to 16 forms part of these financial statements.

11

RM

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2010

12

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
NOTES TO THE FINANCIAL STATEMENTS
1. PRINCIPAL ACTIVITY
The Company was incorporated on 22 June 2005 and has yet to commence
operation as at 31 December 2010.

2. GENERAL INFORMATION
The financial statements have been approved for issue in accordance with a
resolution of the Board of Directors on
The Company is a limited liability Company, incorporated and domiciled in
Malaysia.
The registered office of the Company is located at No.3, 1 st Floor, Taman
Pegawai, Jalan Lumut, 32000 Sitiawan, Perak Darul Ridzuan.
3. GOING CONCERN
As at 31 December 2010, the Company has net liabilities of RM15,236 (2009:RM10,728) and
net loss of RM4,508 (2009:RM1,930). The financial statements of the Company have been
prepared in accordance with the accounting policies applicable to a going concern. This basis
presumes that the Company will continue to receive financial support from its shareholders, the
director or creditor, and that future operating results of the Company will improve. Should any
of the above underlying assumption be negated or substantially altered, the accompanying
financial statements may be affected materially.
4. FINANCIAL RISK MANAGEMENT POLICIES
The Companys financial risk policy seeks to ensure that adequate financial
resources are available for the development of the Companys business
whilst managing its risks. The Company operates within clearly defined
guidelines that are approved by the Board and the Companys policy is not
engaged in speculative transactions.
The main area of financial risks faced by the Company and the policy in
respect of the major area of treasury activity are set out as follows :
a) Liquidity and cash flow risk
The Company seeks to achieve a balance between certainty of funding
and flexible, cost-effective borrowing structure. This is to ensure that at
13 borrowing needs are covered by
the minimum, all projected net

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
committed facilities. Also, the objective for debts maturity is to ensure
that the amount of debts maturity in any one year is not beyond the
Company means to repay and refinance.

NOTES TO THE FINANCIAL STATEMENTS (CONTD)

5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a)

Basis of preparation
The financial statements of the Company have been prepared in
accordance with the Private Entity Reporting Standards and the
Companies Act, 1965 in Malaysia.
The financial statements have been prepared on the historical cost basis unless otherwise
disclosed in the accounting policies below.

b) Cash and cash equivalents

For the purpose of the cash flow statement, cash and cash equivalents
comprise cash in hand.
c)

Payables
Payables are stated at cost, which is the fair value of the consideration to
be paid in the future of goods and services received.

d) Provisions
Provisions are recognized when there is a present obligation, legal or
constructive, as a result of a past event, when it is probable that an
outflow of resources embodying economic benefits will be required to
settle the obligation and reliable estimate can be made of the amount of
the obligation.
e) Financial instruments
Financial instruments are recognized when a contractual relationship has
been established.
14

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
Financial instruments are classified as liabilities or equity in accordance
with the substance of the contractual agreement. Interest, dividends,
gains and losses relating to the financial instruments classified as liability
are reported as expenses or income and distributions in respect of
financial instruments classified as equity charged to equity.
Financial instruments are offset when the Company has a legally
enforceable right to offset and intends to settle on a net basis or to
realize the asset and settle the liability simultaneously.
The Companys accounting policies and the method adopted in respect
of each class of financial; instruments and further information thereof are
disclosed in the individual accounting policy statements or notes to the
financial statements associated with those financial instruments.

15

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
NOTES TO THE FINANCIAL STATEMENTS (CONTD)
6. SHARE CAPITAL

Authorised :
100,000 units of ordinary shares of RM 1 each
Issued and paid-up:
2 units of ordinary shares of RM 1 each

2010
RM

2009
RM

100,000

100,000

2010
RM

2009
RM

2,988

5,300

7. OTHER PAYABLES AND ACCRUALS

Accruals
8. AMOUNT DUE TO DIRECTOR

The amount due to the director is unsecured, interest free and has no fixed
terms of repayment.
9. LOSS BEFORE TAXATION

Loss before taxation is derived after charging:

Audit fees

2010
RM

2009
RM

800

800

10. TAXATION
There is no provision for taxation provided in the financial statement at the
end financial year as the Company has no chargeable income during the
financial year.

16

Company No:
669691 P

ANTARA BIJAK SDN. BHD.

(Incorporated in Malaysia)
NOTES TO THE FINANCIAL STATEMENTS (CONTD)
11 FINANCIAL INSTRUMENTS
a)

Credit risk
The maximum credit risk associated with recognised financial assets is the carrying amount
shown in the balance sheet.

b)

Fair value
The carrying amounts of financial assets and liabilities of the Company at the balance sheet
date approximate their fair values.

17