At 31 March/1 April 2007/31 March 2008
35. Acquisition of subsidiaries and minority interest (continued) 2 Acquisition of minority interest
During the financial year, the Group completed the acquisitions of the following minority interest:
35.2.1 In April 2007, the Group acquired the remaining 30% equity interest in QL Feed Sdn. Bhd. (“QL Feed”) for RM270,000 in cash, increasing its ownership from 70% interest to 100%.
35.2.2 In April 2007, the Group acquired an additional 39% equity interest in Pacific Vet Group (M) Sdn. Bhd.
(“PVG”) for RM2,046,000 in cash, increasing its ownership from 51% interest to 90%.
35.2.3 In January 2008, the Group acquired the remaining 21.81% equity interest in NFood Industry Pte. Ltd.
(“NFood”) in January 2008 for SGD45,000 (approximately RM103,000), increasing its ownership from 50.91% interest to 72.73%.
The carrying amount of QL Feed net liabilities and PVG and NFood net assets in the consolidated financial statements on the date of the acquisition was RM18,252,000, RM5,246,000 and RM853,000 respectively. The Group recognised a goodwill of RM269,000, decrease in minority interest of RM2,070,000 and negative goodwill of RM335,000.
Owner Company Particulars of property Date of revaluation or (date of acquisition)
QL Marine Products Sdn Bhd CL045081687 (27.12.2002)
CL045076042 (19.09.2003)
Kampung Bolong, District of Tuaran, Sabah
QL Plantation Sdn. Bhd. CL 245321037 (11.07.2000)
(Formerly: Tong Len PL 246291092
Plantation Sdn Bhd). PL 246291083
CL 245354170
Tingkayu, Lahad Datu-Kunak Highway, District of Kunak, Sabah
QL Plantation Sdn. Bhd. Lot 13B, POIC Phase 1, Lahad Datu (18.09.2007)
(Formerly: Tong Len Plantation Sdn. Bhd.)
QL BioEnergy Sdn. Bhd. Lot 13 &13A POIC Phase 1, Lahad Datu (28.08.2006)
QL Plantation Sdn. Bhd. CL105355977 Dec 1998
(Formerly: Tong Len
Plantation Sdn Bhd) Mile 42, alongside Tawau-Kunak Highway, District of Tawau, Sabah
QL Plantation Sdn. Bhd. CL 105336034 (20.02.2000)
(Formerly: Tong Len CL 105336025
Plantation Sdn Bhd) CL 105339633
CL 105452033
Kalumpang, District of Tawau, Tawau, Sabah
QL Fishmeal Sdn. Bhd. Lot 164, 2647,&3314, GM1653, GM1416 &GM2415 (Nov 2003) (Formerly: Sin Chip Huat Mukim of Hutan Melintang, District of Hilir Perak, Perak
Fishmeal Sdn Bhd)
Lot 2647, Jalan Tepi Sungai 36400 Hutan Melintang, Perak
QL Feedingstuffs Sdn Bhd PT 17697, HSD 142752 &PT 17698, HSD 142753, (3.12.2002) Mukim Damansara, Selangor
No. 16 &16A, Jalan Astaka U8/83, Bukit Jelutong, 40150 Shah Alam, Selangor
QL Endau Marine Products Sdn. Bhd. Lot 275, Geran Mukim 237, Mukim of Padang Endau & Dec 1998 (Formerly: Sin Hong Heng TLO 117, HS(D) 506, Township of Endau,
Fishmeal Sdn Bhd) District of Mersing Johor
11, Jalan Merlimau, 86900 Endau, Johor
QL Feedingstuffs Sdn. Bhd. Parcel 3 &5, Geran 24082, Lot 48, Mukim Kapar, (Nov 2006) Daerah Klang, Selangor
List of Properties
as at 31 March 2008
Tenure Existing use Land & Net Book Value Age of building
Build-up area (RM’000) (years)
Leasehold to: 27.4.2929 Surimi &Fishmeal Factory 26 acres 11,318 4
Leasehold to: 20.11.2928 3 acres
Leasehold to: 31.12.2072 Oil Palm Estate together with 76.53 ha 9,886 8
Leasehold to: 31.12.2073 palm oil mill &building thereon Leasehold to: 31.12.2073
Leasehold to: 31.12.2078
Leasehold to: 31.12.2104 Industrial land 20 acres 9,410 N/A
Leasehold to: 31.12.2104 Industrial land 20 acres 9,410 N/A
Leasehold to: 31.12.2076 Agricultural land planted 81.06 ha 8,785 10
with oil palm together with palm oil mill &building thereon
Leasehold to: 31.12.2071 Oil palm estate with 799.11 acres 7,100 8
Leasehold to: 31.12.2072 farm buildings Leasehold to: 31.12.2071
Leasehold to: 31.12.2078
Freehold Fishmeal factory, Gross build-up 6,869 4
warehouse cum office area of 7,544 square metre 4.365 ha
Freehold 2 units of semi-detached 6,611.26 5,735 2
factories of 3 storey use as square metres corporate head office
Lot 275:Freehold Fishmeal factory Lot 275: 1.6212 ha 5,246 15
Surimi factory, 7
TLO 117: Leasehold Warehouse, TLO 117: 0.1626 ha 6
expiring 28.2.2036 Office 1
Freehold Vacant industrial land 11.26 acres 4,806 N/A
Authorised share capital : RM200,000,000 Issued and paid-up capital : RM165,000,000
Type of shares : Ordinary shares of RM0.50 each Voting Rights : One vote per ordinary share
SHAREHOLDERS BY SIZE OF HOLDINGS
No. of Holders Holdings Total Holdings %
65 less than 100 2,458 0.00
176 100 to 1,000 74,948 0.02
1,484 1,001 to 10,000 6,861,104 2.08
714 10,001 to 100,000 21,223,866 6.44
176 10,001 to less than 5% 102,402,991 31.05
of issued shares
2 5% and above of issued shares 199,191,433 60.41
2,617 329,756,800 100.00
Note:-
Based on adjusted issued share capital of 329,756,800 ordinary shares of RM0.50 each after deducting 243,200 treasury shares retained by the Company as per Record of Depositors.
DIRECTORS' SHAREHOLDINGS
The direct and deemed interests of the Company's Directors are stated in Page 33 of the Annual Report.
SUBSTANTIAL SHAREHOLDERS
Name of Shareholders Shareholdings %
1 CBG Holdings Sdn. Bhd. 154,717,458 46.92
2 Farsathy Holdings Sdn. Bhd. 44,473,975 13.48
Shareholders’ Analysis Report
as at 30 June 2008
LIST OF 30 LARGEST SHAREHOLDERS
NAME OF SHAREHOLDERS SHAREHOLDINGS %
1 CBG HOLDINGS SDN BHD 154,692,458 46.91
2 FARSATHY HOLDINGS SDN BHD 44,448,300 13.48
3 LEMBAGA TABUNG HAJI 14,833,000 4.50
4 AMANAH RAYA NOMINEES (TEMPATAN) SDN BHD 5,014,200 1.52
BENEFICIARY : AMANAH SAHAM WAWASAN 2020
5 CITIGROUP NOMINEES (TEMPATAN) SDN BHD 3,778,950 1.15
BENEFICIARY : EXEMPT AN FOR PRUDENTIAL FUND MANAGEMENT BERHAD
6 AMANAH RAYA NOMINEES (TEMPATAN) SDN BHD 2,406,150 0.73
BENEFICIARY : SEKIM AMANAH SAHAM NASIONAL
7 HSBC NOMINEES (ASING) SDN BHD 2,324,550 0.70
BENEFICIARY : EXEMPT AN FOR MORGAN STANLEY & CO. INTERNATIONAL PLC (IPB CLIENT ACCT)
8 TAN SWEE KWONG 2,312,700 0.70
9 LIU SIN 2,003,400 0.61
10 CHEAH YAW SONG 1,895,700 0.57
11 UNIVERSAL TRUSTEE (MALAYSIA) BERHAD 1,749,750 0.53
BENEFICIARY : CIMB-PRINCIPAL SMALL CAP FUND 2
12 CHIA SIANG ENG 1,656,796 0.50
13 TAN HON @ TAN HO HOON 1,586,650 0.48
14 CHIA TEOW GUAN 1,527,000 0.46
15 UNIVERSAL TRUSTEE (MALAYSIA) BERHAD 1,500,000 0.45
BENEFICIARY : ALLIANCE FIRST FUND
16 MAYBAN NOMINEES (TEMPATAN) SDN BHD 1,386,450 0.42
BENEFICIARY : MAYBAN LIFE ASSURANCE BERHAD (NON-PAR FUND)
17 MAYBAN NOMINEES (TEMPATAN) SDN BHD 1,380,000 0.42
BENEFICIARY : MAYBAN LIFE ASSURANCE BERHAD (PAR FUND)
18 CHIA SONG PHUAN 1,370,050 0.42
19 CHIA BAK LANG 1,350,000 0.41
20 KHOO NG HIONG 1,225,000 0.37
21 JF APEX NOMINEES (TEMPATAN) SDN BHD 1,176,501 0.36
BENEFICIARY : PLEDGED SECURITIES ACCOUNT FOR NG SAI BEE @ NG SAU BEE (STA 2)
22 TAN THEAN HOCK 1,151,050 0.35
23 KEE SIOK HIN 1,108,500 0.34
24 UNIVERSAL TRUSTEE (MALAYSIA) BERHAD 1,088,800 0.33
BENEFICIARY : CIMB ISLAMIC SMALL CAP FUND
25 LOW LEH KIAN 1,080,000 0.33
26 HLB NOMINEES (TEMPATAN) SDN BHD 1,000,000 0.30
BENEFICIARY : PLEDGED SECURITIES ACCOUNT FOR WONG YEE HUI
27 MALAYSIAN TRUSTEES BERHAD 921,000 0.28
BENEFICIARY : PACIFICMAS ASSET MANAGEMENT SDN BHD FOR
GREAT EASTERN LIFE ASSURANCE (MALAYSIA) BERHAD (PAR 1)
28 NGEAM CHONG KWAI 888,000 0.27
29 LIU FUI MOY 884,500 0.27
30 SJ SEC NOMINEES (TEMPATAN) SDN BHD 830,601 0.25
BENEFICIARY : PLEDGED SECURITIES ACCOUNT FOR ARIFF FIRDAUS BIN ZABIR (SJ8)
NOTICE IS HEREBY GIVEN that the 11th Annual General Meeting has been scheduled on Wednesday, 27 August 2008 at 10.00 a.m. to be held at Topas Room, Saujana Resort, Jalan Lapangan Terbang SAAS, 40150 Shah Alam, Selangor Darul Ehsan.
AGENDA
(1) To receive and adopt the Financial Statements for the financial year ended 31 March 2008 together with the
Directors’ and Auditors’ Report thereon. Resolution 1
(2) To declare a final dividend of 6.5 sen per ordinary share of RM0.50 each single tier exempt dividend in respect of the
financial year ended 31 March 2008. Resolution 2
(3) To re-elect the following Directors who retire in accordance with Article No. 98 of the Company’s Articles of Association:
YM Tengku Dato Zainal Rashid Bin Tengku Mahmood Resolution 3
Mr. Chieng Ing Huong, Eddy Resolution 4
Mr. Chia Song Swa Resolution 5
(4) To approve the Directors’ fees for the financial year ended 31 March 2008. Resolution 6 (5) To re-appoint Messrs. KPMG as the auditors of the Company and to authorise the Directors to fix their remuneration.
Resolution 7