We Aspire To Do More
We have led the way for 25 years...
...and we aspire to do more.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Welcome to Takaful Malaysia.
Selamat datang ke Takaful Malaysia.
For 25 years, Takaful Malaysia has been at the forefront of the Islamic finance industry, helping
Malaysians from all walks of life to achieve financial security and peace of mind. We are
recognised as a global pioneer, playing a key role in nurturing the growth and development
of the fledgling takaful industry all over the world, while establishing Malaysia’s position as a
principal hub in Islamic finance.
Looking ahead over the next 25 years, we are excited by the possibilities that lie before us. In
Malaysia, takaful is gaining broad acceptance amongst Muslims and Non-Muslims, who are
attracted by opportunity to invest ethically. Internationally, as more players enter the Islamic
finance arena, all eyes are on Malaysia as an industry leader.
To our shareholders, thank you for staying the course these 25 years. We look forward to
continuing our journey together with you for the next 25 years and beyond.
Selama 25 tahun Takaful Malaysia telah menjadi peneraju industri kewangan Islam dan
membantu pelbagai lapisan masyarakat negara ini mencapai impian kewangan dan ketenangan
fikiran. Kami diiktiraf sebagai pelopor global yang memainkan peranan utama memantapkan
pertumbuhan dan kemajuan industri Takaful di seluruh dunia dan pada masa yang sama
merealisasikan kedudukan Malaysia sebagai hab kewangan Islam.
Kami kini bersedia menghadapi cabaran untuk 25 tahun akan datang. Di Malaysia, Takaful
semakin diterima ramai baik di kalangan orang Islam mahupun bukan Islam yang tertarik dengan
peluang untuk melabur secara beretika. Di peringkat antarabangsa pula, nama Malaysia menjadi
semakin tersohor sebagai pemimpin industri apabila lebih ramai peserta global memasuki arena
kewangan Islam.
Terima kasih kami yang tidak terhingga kepada para pemegang saham yang telah bersama-sama
kami sejak 25 tahun yang lalu. Kami gembira untuk meneruskan perjalanan ini bersama-sama
anda untuk 25 tahun yang akan datang dan seterusnya.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Isi Kandungan
Contents
4 Visi & Misi
27
Laporan Jawatankuasa Audit
Audit Committee Report
6 Notis Mesyuarat Agung Tahunan
36
Penyata Urus Tadbir Korporat
Corporate Governance Statement
44
Maklumat Pematuhan Tambahan
Additional Compliance Information
49
Penyata Kawalan Dalaman
Statement on Internal Control
54
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
63
Penyata Kewangan
Financial Statements
Vision & Mission
Notice of Annual General Meeting
10 Penyata Mengiringi Notis Mesyuarat Agung
Tahunan Kedua Puluh Empat
Statement Accompanying Notice of Twenty
Fourth Annual General Meeting
11 Struktur Korporat
Corporate Structure
12 Ringkasan Kewangan Lima Tahun
Five Years Financial Highlights
13 Maklumat Korporat
Corporate Information
16 Profil Lembaga Pengarah
Board of Directors’ Profile
22 Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
26 Jawatankuasa Pengurusan
Management Committee
150
Maklumat Hartanah
Particulars of Properties
157
Statistik Pegangan Saham
Shareholdings Statistics
161
Rangkaian Cawangan
Branch Network
Borang Proksi Proxy Form
3
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
VISI & MISI
VISION & MISSION
“Menjadikan kami pilihan utama insurans”
Matlamat kami adalah untuk melangkaui jangkaan/harapan pelanggan melalui:
• Kecemerlangan Operasi
• Kebolehan Dalam Daya Saing Teknologi
• Inovasi Produk
• Budaya Kerja Berorientasikan Prestasi
Dalam usaha meningkatkan nilai pemegang saham
“We want to be the preferred choice for insurance”
We aim to exceed customers’ expectations through:
• Operational Excellence
• Technology Driven Capabilities
• Product Innovation
• Performance Oriented Culture
Whilst delivering superior shareholders’ value
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
We Nurture Your Future
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notis Mesyuarat Agung Tahunan
Notice of Annual General Meeting
DENGAN INI DIMAKLUMKAN bahawa MESYUARAT AGUNG
TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD YANG
KEDUA PULUH EMPAT akan diadakan di Dewan Ahmad
Mohamed Ibrahim, Tingkat 5, Blok Annex, Dataran Kewangan
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala
Lumpur pada hari Khamis, 12 November 2009, jam 9:30 pagi
bagi tujuan-tujuan berikut:
NOTICE IS HEREBY GIVEN that the TWENTY FOURTH
ANNUAL GENERAL MEETING of SYARIKAT TAKAFUL
MALAYSIA BERHAD will be held at Dewan Ahmad Mohamed
Ibrahim, 5th Floor, Annexe Block, Dataran Kewangan Darul
Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur on
Thursday, 12 November 2009, at 9:30 a.m. for the following
purposes:
1. Untuk menerima dan menimbang Penyata-penyata
Kewangan Beraudit bagi tahun kewangan berakhir 30 Jun
2009, berserta laporan Pengarah dan Juruaudit berkaitan
dengannya.
(Resolusi 1)
1. To receive and adopt the Audited Financial Statements for
the financial year ended 30 June 2009, together with the
reports of the Directors and Auditors thereon.
(Resolution 1)
2. Untuk meluluskan dividen akhir sebanyak 7.25% ditolak
25% cukai bagi tahun kewangan berakhir 30 Jun 2009.
(Resolusi 2)
2. To approve a final dividend of 7.25% less 25% tax in
respect of the financial year ended 30 June 2009.
(Resolution 2)
3. Untuk melantik semula Pengarah-pengarah berikut yang
bersara menurut Artikel 62 Tataurusan Persatuan Syarikat:
3. To re-elect the following Directors, each of whom retires
pursuant to Article 62 of the Company’s Articles of
Association:
3.1 Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
(Resolution 3)
3.2 Puan Rozaida bt. Omar
(Resolution 4)
3.1 Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
(Resolusi 3)
3.2 Puan Rozaida bt. Omar
(Resolusi 4)
4. Untuk meluluskan bayaran yuran Pengarah-pengarah bagi
tahun kewangan berakhir 30 Jun 2009.
(Resolusi 5)
5. Untuk meluluskan bayaran yuran Ahli-ahli Badan Penasihat
Syariah bagi tahun kewangan berakhir 30 Jun 2009.
(Resolusi 6)
6. Untuk melantik semula Tetuan KPMG Desa Megat & Co.
sebagai Juruaudit Syarikat dan memberi kuasa kepada
Pengarah-pengarah untuk menetapkan bayaran Juruaudit.
(Resolusi 7)
7. Sebagai Urusan Khas - Resolusi Biasa - Cadangan
Pembaharuan Mandat Pemegang Saham bagi Urusniaga
Pihak Berkaitan yang Berulang Berbentuk Hasil atau
Perdagangan dengan BIMB Holdings Berhad dan subsidiarisubsidiarinya (“Kumpulan BHB”).
4. To approve the payment of the Directors’ fees for the
financial year ended 30 June 2009.
(Resolution 5)
5. To approve the payment of Shariah Advisory Body Members’
fees for the financial year ended 30 June 2009.
(Resolution 6)
6. To re-appoint Messrs KPMG Desa Megat & Co. as the
Auditors of the Company and to authorise the Directors to
fix their remuneration.
(Resolution 7)
7. As Special Business - Ordinary Resolution - Proposed
Renewal of Shareholder’ Mandate for Recurrent
Related Party Transactions of a Revenue or Trading
Nature with BIMB Holdings Berhad and its Subsidiaries
(“BHB Group”).
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notis Mesyuarat Agung Tahunan
Notice of Annual General Meeting
“BAHAWA, tertakluk kepada pematuhan dengan semua
undang-undang, peraturan dan garis panduan yang
berkaitan, mandat yang diberikan oleh para pemegang
saham Syarikat pada 10 Disember 2008 menurut
perenggan 10.09 Keperluan Penyenaraian Pasaran Utama
Bursa Malaysia Securities Berhad, memberi kuasa kepada
Syarikat dan subsidiari-subsidiarinya (“Kumpulan Takaful
Malaysia”) untuk memeterai Urusniaga Pihak Berkaitan
yang Berulang berbentuk hasil atau perdagangan dengan
Kumpulan BHB yang perlu bagi operasi harian Kumpulan
Takaful Malaysia seperti yang dinyatakan dalam Seksyen
2.3 Pekeliling kepada Para Pemegang Saham bertarikh
21 Oktober 2009 (“Pekeliling”), adalah dan dengan ini
diperbaharui, dengan syarat bahawa:
“THAT, subject to compliance with all applicable laws,
regulations and guidelines, the mandate granted by the
shareholders of the Company on 10 December 2008
pursuant to paragraph 10.09 of the Main Market Listing
Requirements of Bursa Malaysia Securities Berhad,
authorizing the Company and its subsidiaries (“Takaful
Malaysia Group”) to enter into the Recurrent Related Party
Transactions of a revenue or trading nature with the BHB
Group which are necessary for the day to day operations
of the Takaful Malaysia Group as set out in Section 2.3
of the Circular to Shareholders dated 21 October 2009
(“Circular”), be and is hereby renewed, provided that:
(a) the transactions are in the ordinary course of business
and are on terms which are not more favourable to
the related parties than those generally available to
the public and on terms not to the detriment of the
minority shareholders of the Company;
(b) the transactions are made at arm’s length and on
normal commercial terms; and
(c) pendedahan akan dibuat dalam laporan tahunan
dengan pecahan nilai agregat urus niaga yang
dijalankan menurut mandat pada tahun kewangan.
(c) the disclosure will be made in the annual report
with the breakdown of the aggregate value of the
transactions conducted pursuant to the mandate
during the financial year.
DAN BAHAWA pembaharuan dan pemberian mandat
akan terus berkuatkuasa sehingga:
AND THAT such renewed and granted mandate shall
continue to be in force until:
(a) urusniaga tersebut adalah dalam perjalanan biasa
perniagaan dan atas terma yang tidak lebih memihak
kepada pihak berkaitan berbanding yang secara
umumnya tersedia kepada orang ramai dan atas terma
yang tidak menjejaskan para pemegang saham minoriti
Syarikat;
(b) urusniaga dilaksanakan pada asas yang saksama dan
atas terma komersial biasa; dan
(a) tamat mesyuarat agung tahunan Syarikat yang akan
datang di mana mandat tersebut diluluskan, di mana
mandat tersebut akan luput, melainkan kuasa tersebut
diperbaharui melalui satu resolusi yang diluluskan
dalam mesyuarat tersebut;
(b) tamat tempoh di mana mesyuarat agung tahunan
berikutnya selepas tarikh ia dikehendaki untuk
diadakan menurut Seksyen 143(1) Akta Syarikat, 1965
(“AS”) (tetapi tidak melebihi penangguhan seperti yang
dibenarkan menurut Seksyen 143(2) AS); atau
(c) dibatalkan atau dipinda melalui resolusi yang
diluluskan oleh pemegang saham dalam mesyuarat
agung;
yang mana lebih awal”.
(a) the conclusion of the next annual general meeting of
the Company following the general meeting at which
such mandate was passed, at which time it will lapse,
unless by a resolution passed at the meeting, the
authority is renewed;
(b) the expiration of the period within which the next
annual general meeting after the date that it is
required to be held pursuant to Section 143(1) of the
Companies Act, 1965 (“CA”) (but shall not extend to
such extension as may be allowed pursuant to Section
143(2) of CA); or
(c) revoked or varied by resolution passed by the
shareholders in a general meeting;
whichever is the earlier”.
(Resolusi 8)
(Resolution 8)
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notis Mesyuarat Agung Tahunan
Notice of Annual General Meeting
8. Untuk melaksanakan sebarang urusan yang mana notis
sewajarnya telah diberi.
8. To transact any other business for which due notice has
been given.
NOTIS DENGAN INI JUGA DIBERI BAHAWA dividen
akhir sebanyak 7.25% ditolak 25% cukai bagi tahun
kewangan berakhir 30 Jun 2009, akan dibayar pada 11
Disember 2009 kepada para Pendeposit yang berdaftar di
dalam Rekod Pendeposit pada penutupan perniagaan pada
16 November 2009.
NOTICE IS ALSO HEREBY GIVEN THAT a final dividend
of 7.25% less 25% tax in respect of the financial year
ended 30 June 2009 will be paid on 11 December 2009
to Depositors registered in the Record of Depositors at the
close of business on 16 November 2009.
FURTHER NOTICE IS HEREBY GIVEN THAT a Depositor
shall qualify for entitlement to the dividend only in respect
of:
NOTIS SETERUSNYA DENGAN INI JUGA DIBERI
BAHAWA seorang Pendeposit adalah layak untuk mendapat
hak menerima dividen hanya dalam keadaan:
(a) Shares transferred into the Depositor’s Securities
Account before 4:00 p.m. on 16 November 2009 in
respect of transfers; and
(b) Shares bought on the Bursa Malaysia Securities Berhad
on a cum entitlement basis according to the Rules of
Bursa Malaysia Securities Berhad.
(a) Saham yang dipindahkan ke dalam Akaun Sekuriti
Pendeposit sebelum 4:00 petang pada 16 November
2009 berhubung pindahan; dan
(b) Saham yang dibeli di Bursa Malaysia Securities Berhad
pada asas kelayakan menurut Peraturan Bursa Malaysia
Securities Berhad.
By Order of the Board
Atas Arahan Lembaga Pengarah
MOHAMAD ASRI HAJI YUSOFF (MIA 14171)
Setiausaha Syarikat
Kuala Lumpur
21 Oktober 2009
MOHAMAD ASRI HAJI YUSOFF (MIA 14171)
Company Secretary
Kuala Lumpur
21 October 2009
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notis Mesyuarat Agung Tahunan
Notice of Annual General Meeting
Nota:
Notes:
1.
Pelantikan Proksi
1.
Appointment of Proxy
(i)
Seorang ahli yang berhak hadir untuk mengundi dalam mesyuarat itu
layak untuk melantik seorang atau beberapa orang proksi untuk hadir
dan mengundi bagi pihaknya dan haruslah menyatakan bahagian
sahamnya yang diwakili oleh setiap proksi dan proksi itu tidak
semestinya seorang ahli Syarikat.
(i) A member entitled to attend and vote at the meeting is entitled to
appoint a proxy or proxies to attend and to vote instead of him and
shall specify the proportions of his holdings to be represented by each
proxy and a proxy need not be a member of the Company.
(ii)
(ii)
Suratcara pelantikan proksi bagi individu hendaklah ditandatangani
oleh pelantik atau peguamnya dan dalam hal perbadanan, ia mestilah
di bawah meterai atau ditandatangani oleh seorang pegawai atau
peguamnya yang telah diberi kuasa sewajarnya.
The instrument appointing a proxy in the case of an individual shall be
signed by the appointer or his attorney and in the case of a corporation,
must be under seal or under the hand of an officer or attorney duly
authorised.
(iii) Suratcara pelantikan seorang proksi mestilah dihantar ke Pejabat
Berdaftar Syarikat di Tingkat 26, Blok Annex, Dataran Kewangan Darul
Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur, tidak
lewat dari empat puluh lapan (48) jam sebelum waktu yang ditetapkan
bagi mengadakan mesyuarat atau sebarang penangguhannya.
(iii) The instrument appointing a proxy must be deposited at the Registered
Office of the Company at Tingkat 26, Blok Annex, Dataran Kewangan
Darul Takaful, No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur not
less than forty-eight (48) hours before the time for holding the meeting
or any adjournment thereof.
2.
Explanatory Notes to Special Business
2.
Nota Penerangan kepada Urusniaga Khas
(i)
(i)
Cadangan Pembaharuan Mandat Pemegang Saham bagi Urusniaga
Pihak Berkaitan yang Berulang Berbentuk Hasil atau Perdagangan.
Cadangan Resolusi No. 8, jika diluluskan, akan memberi kuasa
kepada Syarikat untuk melaksanakan urusniaga pihak berkaitan yang
berulang berbentuk hasil atau perdagangan perlu bagi operasi harian
Kumpulan Takaful Malaysia dan akan menghapuskan keperluan untuk
menjalankan mesyuarat agung yang berasingan dari masa ke semasa
untuk mendapatkan kelulusan para pemegang saham.
Proposed Renewal of Shareholder’ Mandate for Recurrent Related
Party Transaction of a Revenue or Trading Nature
The proposed Resolution No. 8, if passed, will empower the Company
to conduct recurrent related party transactions of a revenue or trading
in nature which are necessary for Takaful Malaysia Group’s day to day
operations and will eliminate the need to convene separate general
meetings from time to time to seek shareholder’ approval.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Mengiringi Notis Mesyuarat
Agung Tahunan Kedua Puluh Empat
mengikut Perenggan 8.27 (2) Keperluan Penyenaraian Pasaran Utama Bursa Malaysia Securities Berhad
Tiada individu yang dilantik sebagai Pengarah (selain daripada pengarah yang bersedia untuk dilantik semula iaitu Y.A.M. Tengku
Azman Ibni Almarhum Sultan Abu Bakar dan Puan Rozaida bt. Omar) dalam Mesyuarat Agung Tahunan Syarikat Takaful Malaysia
Berhad yang Kedua Puluh Empat akan datang.
Statement Accompanying Notice of
Twenty Fourth Annual General Meeting
pursuant to Paragraph 8.27 (2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
There is no individual standing for election as Director (other than directors standing for re-election i.e. Y.A.M. Tengku Azman Ibni
Almarhum Sultan Abu Bakar and Puan Rozaida bt. Omar) at this forthcoming Twenty Fourth Annual General Meeting of Syarikat
Takaful Malaysia Berhad.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Struktur Korporat
Corporate Structure
63.09%
42.73%
Syarikat-Syarikat Subsidiari/
Subsidiary Companies
57.24%
47.08%
52.67%
56.00%
P.T. SYARIKAT
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Ringkasan Kewangan Lima Tahun
Five Years Financial Highlights
Syarikat/Company
Syarikat/Company
Jumlah Kasar Sumbangan Takaful (RM ’000)/
Total Gross Takaful Contributions (RM ’000)
Jumlah Aset (RM ’000)/
Total Assets (RM ’000)
3,796,260
4,118,880
2008
2009
3,291,285
2007
2,983,338
2006
2,661,955
2005
276,294
2009
208,041
2008
306,620
2007
341,874
2006
2005
264,787
433,007
Takaful Am/General Takaful
2009
538,546
2008
470,205
375,074
2006
2007
357,145
Takaful Keluarga/Family Takaful
2005
Keuntungan Sebelum Cukai Selepas Zakat (RM ’000)/
Profit Before Taxation After Zakat (RM ’000)
48,853
2009
33,860
2008
2007
21,626
41,006
2006
2005
2009
2008
2007
2006
14,361
29,054
32,586
45,325
Keuntungan Sebelum Cukai Selepas Zakat (RM ’000)/
Profit Before Taxation After Zakat (RM ’000)
42,659
kumpulan/group
33,993
Syarikat/Company
2005
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Korporat
Corporate Information
LEMBAGA PENGARAH/BOARD OF DIRECTORS
JAWATANKUASA AUDIT/AUDIT COMMITTEE
Pengerusi/Chairman
Encik Mahadzir b. Azizan
Pengerusi/Chairman
(Dilantik pada 15 Januari 2009/Appointed on 15 January 2009)
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
(Meletak jawatan pada 16 Julai 2009/Resigned on 16 July 2009)
Ahli-ahli/Members
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/Group Managing Director
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Puan Rozaida bt. Omar
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
Encik Mahadzir b. Azizan
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Encik Johan b. Abdullah
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
Setiausaha/Secretary
Encik Mohamad Asri b. Hj. Yusoff (MIA 14171)
BADAN PENASIHAT SYARIAH/
SHARIAH ADVISORY BODY
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
(Pengerusi dari 23 Mei 2007 hingga 15 Januari 2009/
Chairman from 23 May 2007 until 15 January 2009)
Puan Rozaida bt. Omar
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
JAWATANKUASA PEMILIHAN/
NOMINATION COMMITTEE
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Pengerusi/Chairman
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Puan Rozaida bt. Omar
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
Encik Johan b. Abdullah
JAWATANKUASA GANJARAN/
REMUNERATION COMMITTEE
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Pengerusi/Chairman
Pengerusi/Chairman
Encik Mahadzir b. Azizan
Y. Bhg. Ustaz Mohd. Bakir b. Hj. Mansor
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Ahli-ahli/Members
Y. Bhg. Dr. Ahmad Shahbari @ Sobri b. Salamon
Y. Bhg. Datuk Abdul Hamid b. Said
Y. Bhg. Dr. Aida bt. Othman
Setiausaha/Secretary
Encik Mohamad Asri b. Hj. Yusoff
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Korporat
Corporate Information
JAWATANKUASA PENGURUSAN RISIKO/
RISK MANAGEMENT COMMITTEE
JURUAUDIT/AUDITORS
Encik Johan b. Abdullah
KPMG Desa Megat & Co. (AF0759)
Chartered Accountants
Level 10, KPMG Tower
8, First Avenue
Bandar Utama
47800 Petaling Jaya
Selangor Darul Ehsan
Tel : 603-7721 3388
Fax : 603-7721 3399
PENGURUSAN/MANAGEMENT
PEJABAT BERDAFTAR/REGISTERED OFFICE
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/Group Managing Director
Tingkat 26, Blok Annex
Dataran Kewangan Darul Takaful
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 603-2268 1984
Fax : 603-2274 2864
Email : csu@takaful-malaysia.com.my
Website : www.takaful-malaysia.com.my
Encik Mahadzir b. Azizan
Pengerusi/Chairman
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Puan Rozaida bt. Omar
Puan Azian bt. Kassim
Ketua Pegawai Pelaburan/Chief Investment Officer
Encik Nazrul Hisham b. Abdul Hamid
Ketua Pegawai Audit Dalaman/Chief Internal Auditor
Encik Abdul Khalid b. Salleh
Pengurus Besar, Jualan & Pemasaran/Bancatakaful/
General Manager, Sales & Marketing/Bancatakaful
Puan Balilah bt. Hassan
Pengurus Besar, Sumber Manusia/General Manager, Human
Resource
Encik Lee Kok Wah
Ketua Pegawai Kewangan/Chief Financial Officer
KETUA PEGAWAI EKSEKUTIF BAGI SYARIKAT
SUBSIDIARI/CHIEF EXECUTIVE OFFICER OF
SUBSIDIARY COMPANIES
Encik Izzuddin b. Tajudin
Ketua Pegawai Eksekutif, Asean Retakaful International (L) Ltd/
Chief Executive Officer, Asean Retakaful International (L) Ltd
PENDAFTAR/REGISTRAR
Symphony Share Registrars Sdn Bhd (378993-D)
Level 26, Menara Multi-Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 603-2721 2222
Fax : 603-2721 2530/31
Website : www.symphony.com.my
TEMPAT DITUBUHKAN DAN DOMISIL/
PLACE OF INCORPORATION AND DOMICILE
Malaysia
PENYENARAIAN BURSA/BURSA LISTING
Pasaran Utama/Main Market
Bursa Malaysia Securities Berhad
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
We Protect the Essentials
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/
Group Managing Director
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil, berusia 46
tahun, adalah warganegara Malaysia dan dilantik ke Lembaga
Pengarah Syarikat Takaful Malaysia Berhad pada 1 September
2006 sebagai Pengarah Bukan Eksekutif Bukan Bebas. Beliau
kini adalah Pengarah Urusan Kumpulan bagi Takaful Malaysia
sejak 1 April 2007. Beliau juga merupakan ahli Jawatankuasa
Ganjaran, Jawatankuasa Pemilihan dan Jawatankuasa
Pengurusan Risiko. Beliau juga merupakan Pengerusi Lembaga
Komisaris P.T. Asuransi Takaful Umum dan P.T. Asuransi Takaful
Keluarga dan ahli Lembaga Komisaris P.T. Syarikat Takaful
Indonesia.
Beliau merupakan graduan Sarjana Muda Sains dalam
bidang Sains Aktuari dan Sarjana Pentadbiran Perniagaan dari
University of Iowa, USA. Beliau juga adalah Fellow of the
Society of Actuaries, USA, ahli American Academy of Actuaries
dan Chartered Life Underwriter.
Beliau telah bekerja di Amerika Syarikat sebagai Aktuari dari
tahun 1987 hingga 1994 sebelum pulang ke Malaysia sebagai
Timbalan Pengurus Besar di Malaysia National Insurance. Pada
tahun 1996, beliau menyertai ING Insurance Berhad (sebelum
ini dikenali sebagai Aetna Universal Insurance) sebagai Naib
Presiden Kanan dan Ketua Aktuari. Pada tahun 2004, beliau
menjadi Timbalan Pengurus Besar bagi P.T. AIA Indonesia.
Beliau merupakan Pengarah Eksekutif BIMB Holdings Berhad
mulai April 2006 hingga Mac 2007.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful Malaysia
dan tidak mempunyai percanggahan kepentingan dengan
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh (10) tahun yang lalu dan
telah menghadiri sembilan (9) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2009.
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil, aged 46, is a
Malaysian citizen and was appointed to the Board of Syarikat
Takaful Malaysia Berhad on 1 September 2006 as a NonIndependent Non-Executive Director. He is currently the Group
Managing Director of Takaful Malaysia since 1 April 2007. He
is a member of the Remuneration Committee, Nomination
Committee and Risk Management Committee. He is also the
Chairman of the Board of Commissioners of P.T. Asuransi Takaful
Umum and P.T. Asuransi Takaful Keluarga and a member of the
Board of Commissioners of P.T. Syarikat Takaful Indonesia.
He graduated with a Bachelor of Science degree in Actuarial
Science and Master in Business Administration from the
University of Iowa, USA. He is a Fellow of the Society of
Actuaries, USA, a member of the American Academy of
Actuaries and a Chartered Life Underwriter.
He worked in the United States as an Actuary from 1987 to 1994
prior to returning to Malaysia as Deputy General Manager at
Malaysia National Insurance. In 1996, he joined ING Insurance
Berhad (previously known as Aetna Universal Insurance) as
Senior Vice President and Chief Actuary. In 2004, he became
the Deputy General Manager for P.T. AIA Indonesia. He was an
Executive Director of BIMB Holdings Berhad from April 2006
until March 2007.
He has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. He has no conviction for offences
within the past ten (10) years and has attended nine (9) Board
of Directors’ meeting during the financial year ended 30 June
2009.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
SSAP, SIMP, DSAP
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
berusia 57 tahun adalah warganegara Malaysia dan telah
dilantik sebagai Pengarah Bukan Eksekutif Bebas Takaful
Malaysia pada 15 Mei 2007. Beliau juga adalah Pengerusi
Jawatankuasa Ganjaran dan Jawatankuasa Pemilihan dan juga
merupakan ahli Jawatankuasa Audit. Beliau juga merupakan
ahli Lembaga Komisaris P.T. Syarikat Takaful Indonesia.
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar, aged
57, is a Malaysian citizen and was appointed as an Independent
Non-Executive Director of Takaful Malaysia on 15 May 2007.
He is also the Chairman of Remuneration Committee and
Nomination Committee and a member of Audit Committee.
He is also a member of the Board of Commissioners of P.T.
Syarikat Takaful Indonesia.
Y. A. M. Tengku Azman mendapat pendidikan awalnya
di United Kingdom dan memulakan kerjayanya dengan
Hongkong & Shanghai Banking Corporation pada tahun 1973
sebagai Pegawai Rantau Pelatih. Selepas menamatkan tempoh
latihannya di Ibu Pejabat di Hong Kong dan di Institute of
Banking (Part I), beliau pulang ke Malaysia dan terus bekerja
dengan Hongkong & Shanghai Banking Corporation sebelum
membuka perniagaannya sendiri, iaitu Jomalina Sdn Bhd,
sebuah syarikat yang terlibat dengan penapisan minyak sawit
pada tahun 1976. Mulai dari situ, Y.A.M. Tengku Azman
meneruskan kerjayanya dengan memegang jawatan pengurusan
dalam beberapa syarikat swasta yang lain. Dalam tempoh dari
tahun 1985 hingga 2001, Y.A.M. Tengku Azman memegang
jawatan Pengarah di Aetna Universal Insurance Berhad (kini
dikenali sebagai ING Insurance Berhad) dan Ralco Corporation
Berhad, masing-masing adalah syarikat yang terbabit dalam
pelbagai jenis insurans dan pengeluaran serta perdagangan
bahan plastik. Kini, Y. A. M. Tengku Azman adalah Pengerusi
Eksekutif sebuah syarikat swasta, Ampmech Industries Sdn
Bhd, syarikat yang dilesenkan oleh Petroliam Nasional Berhad,
yang berkecimpung dalam industri minyak dan gas dan sebagai
Pengarah Urusan A. S. Holdings Sdn Bhd, masing-masing sejak
tahun 1998 dan 1980. Beliau juga merupakan Pengarah di
beberapa syarikat sendirian berhad yang lain.
Y. A. M. Tengku Azman had his early education in the United
Kingdom. He started off his career with Hongkong & Shanghai
Banking Corporation in 1973 as Regional Officer Trainee. After
completing the training period in Hongkong Head Quarters and
the Institute of Banking (Part I), he then returned to Malaysia
and continued working with Hongkong & Shanghai Banking
Corporation before setting up his own business, Jomalina Sdn
Bhd, a company involved in palm oil refining in 1976. From
then onwards, Y.A.M. Tengku Azman continued his career path
by assuming management positions in several other private
limited companies. In the period from 1985 to 2001, Y.A.M.
Tengku Azman held the position of Director of Aetna Universal
Insurance Berhad (now known as ING Insurance Berhad) and
Ralco Corporation Berhad, companies involved in multi-line
insurance and manufacturing and trading of plastic materials
respectively. Currently, Y. A. M. Tengku Azman is the Executive
Chairman of a private company, Ampmech Industries Sdn Bhd,
a licensed company by Petroliam Nasional Berhad, specializing
in the oil and gas industry and Managing Director of A. S.
Holdings Sdn Bhd since 1998 and 1980 respectively. He is also
a Director of several other private limited companies.
Y. A. M. Tengku Azman tidak mempunyai perhubungan
kekeluargaan dengan mana-mana pengarah/pemegang saham
utama Takaful Malaysia dan tidak mempunyai percanggahan
kepentingan dengan Takaful Malaysia. Beliau tidak pernah
disabitkan dengan apa-apa kesalahan dalam tempoh sepuluh
(10) tahun yang lalu dan telah menghadiri sembilan (9)
mesyuarat Lembaga Pengarah semasa tahun kewangan berakhir
30 Jun 2009.
Y. A. M. Tengku Azman has no family relationship with any other
directors/major shareholders of Takaful Malaysia and has no
conflict of interest with Takaful Malaysia. He has no conviction
for offences within the past ten (10) years and has attended nine
(9) Board of Directors’ meeting during the financial year ended
30 June 2009.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Puan Rozaida Bt. Omar
Pengarah Bukan Eksekutif Bukan Bebas/
Non-Independent Non-Executive Director
Puan Rozaida bt. Omar, berusia 46 tahun, adalah warganegara
Malaysia dan telah dilantik sebagai Pengarah Bukan Eksekutif
Bukan Bebas Takaful Malaysia pada 15 Mei 2007. Beliau juga
merupakan ahli Jawatankuasa Audit, Jawatankuasa Pemilihan
dan Jawatankuasa Pengurusan Risiko.
Puan Rozaida bt. Omar, aged 46, is a Malaysian citizen and is a
Non-Independent Non-Executive Director of Takaful Malaysia
and was appointed to the Board on 15 May 2007. She is also a
member of the Audit Committee, Nomination Committee and
Risk Management Committee.
Beliau adalah Akauntan Bertauliah (M) dan merupakan ahli
Association of Chartered Certified Accountants (ACCA) United
Kingdom sejak tahun 1986.
She is a Chartered Accountant (M) and a member of the
Association of Chartered Certified Accountants (ACCA) United
Kingdom since 1986.
Beliau memulakan kerjayanya sebagai Akauntan Kewangan
di FELDA pada tahun 1986. Pada tahun 1990, beliau menjadi
Pengurus Kredit di Citibank Berhad sehingga tahun 1991.
Beliau kemudiannya menyertai Guthrie Trading Sdn Bhd pada
tahun 1992 sebagai Pengurus Kewangan sehingga tahun 1993.
Selepas itu, beliau menjadi Pengarah Kewangan di Glaxo
SmithKline Consumer Healthcare Sdn Bhd dari tahun 1994
sehingga tahun 2003. Kini beliau adalah Pengurus Besar Kanan
(Kewangan) di Lembaga Tabung Haji sejak tahun 2004. Beliau
juga merupakan Pengarah TH Properties Sdn Bhd dan Pelikan
Berhad.
She started her career as a Financial Accountant at FELDA
in 1986. In 1990, she became a Credit Manager at Citibank
Berhad until 1991. She then joined Guthrie Trading Sdn Bhd in
1992 as a Finance Manager until 1993. After that, she became
a Finance Director of Glaxo SmithKline Consumer Healthcare
Sdn Bhd from 1994 until 2003. She is currently the Senior
General Manager (Finance) of Lembaga Tabung Haji since
2004. She is also a Director of TH Properties Sdn Bhd and
Pelikan Berhad.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful Malaysia
dan tidak mempunyai percanggahan kepentingan dengan
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh (10) tahun yang lalu dan
telah menghadiri sembilan (9) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2009.
She has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. She has no conviction for offences
within the past ten (10) years and has attended nine (9) Board
of Directors’ meeting during the financial year ended 30 June
2009.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Encik Mahadzir B. Azizan
Pengarah Bukan Eksekutif Bebas/
Independent Non-Executive Director
Encik Mahadzir b. Azizan, berusia 60 tahun, adalah
warganegara Malaysia dan telah dilantik sebagai Pengarah
Bukan Eksekutif Bebas Takaful Malaysia pada 1 September
2007. Beliau juga merupakan Pengerusi Jawatankuasa
Pengurusan Risiko dan Jawatankuasa Audit dan merupakan ahli
Jawatankuasa Ganjaran.
Beliau memperolehi kelulusan Barrister-At-Law dari Lincoln’s
Inn, London, United Kingdom dan diterima masuk ke English
Bar pada tahun 1978.
Beliau telah memegang pelbagai jawatan penting di dalam
sektor awam dan swasta. Selepas tamat pengajian, beliau telah
menyertai perkhidmatan Perundangan dan Kehakiman Kerajaan
Malaysia sebagai Timbalan Pendakwaraya Awam dan Penasihat
Undang-Undang. Beliau kemudiannya menyertai sektor
swasta dan berkhidmat di Malaysian International Shipping
Corporation (“MISC”) dan Island & Peninsular Berhad, syarikat
hartanah Permodalan Nasional Berhad (“PNB” ) selama 24
tahun. Semasa di sektor swasta, beliau juga telah berkhidmat
sebagai Ahli Majlis MARA, Pengarah TH Properties Sdn Bhd dan
juga sebagai Pengarah di pelbagai syarikat berkaitan Kerajaan.
Kini, beliau merupakan Pengarah ECM Libra Financial Group
Berhad dan beberapa syarikat lain.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful Malaysia
dan tidak mempunyai percanggahan kepentingan dengan
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh (10) tahun yang lalu dan
telah menghadiri sembilan (9) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2009.
Encik Mahadzir b. Azizan, aged 60, is a Malaysian citizen and
is an Independent Non-Executive Director of Takaful Malaysia
and was appointed to the Board on 1 September 2007. He is
also the Chairman of the Risk Management Committee and
Audit Committee and a member of Remuneration Committee.
He is a Barrister-At-Law from Lincoln’s Inn, London, United
Kingdom and was called to the English Bar in 1978.
He has held key positions both in private and public sector.
After graduation, he joined the Judicial and Legal Service of
the Malaysian Government as a Deputy Public Prosecutor and
Federal Counsel and subsequently ventured into the private
sector and served Malaysian International Shipping Corporation
(“MISC”) and Island & Peninsular Berhad, the property arm of
Permodalan Nasional Berhad (“PNB”) for 24 years. Whilst in
the private sector, he also served as Ahli Majlis MARA, Director
of TH Properties Sdn Bhd as well as various other directorships
in government linked companies. Currently, Encik Mahadzir is
also a Director of ECM Libra Financial Group and several other
companies.
He has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. He has no conviction for offences
within the past ten (10) years and has attended nine (9) Board
of Directors’ meeting during the financial year ended 30 June
2009.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Y. Bhg. Dato ’ Sulaiman b. Mohd Yusof
Pengarah Bukan Eksekutif Bebas /
Independent Non-Executive Director
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof, berusia 58 tahun, adalah
warganegara Malaysia dan telah dilantik sebagai Pengarah
Bukan Eksekutif Bebas Takaful Malaysia pada 1 Januari 2008.
Beliau merupakan ahli Jawatankuasa Audit, Jawatankuasa
Pemilihan dan Jawatankuasa Ganjaran. Beliau juga merupakan
Pengerusi Asean Retakaful International (L) Ltd.
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof, aged 58, is a Malaysian
citizen and is an Independent Non-Executive Director of
Takaful Malaysia and was appointed to the Board on 1 January
2008. He is a member of the Audit Committee, Nomination
Committee and Remuneration Committee. He is also the
Chairman of Asean Retakaful International (L) Ltd.
Beliau memperolehi Ijazah Sarjana Muda Undang-undang
(LLB) dari University of Buckingham, United Kingdom pada
tahun 1984 dan diterima masuk ke Malaysian Bar pada tahun
1986.
He graduated with a Bachelor of Law (LLB) degree from the
University of Buckingham, United Kingdom in 1984 and was
called to the Malaysian Bar in 1986.
Beliau memulakan kerjayanya sebagai Pelatih Wartawan Kadet
dengan Agensi Berita Bernama pada tahun 1969. Seterusnya
pada tahun yang sama, beliau menyertai Polis Di Raja Malaysia.
Beliau menjawat pelbagai jawatan dalam Polis Di Raja Malaysia
seperti Timbalan Superitendan Personel, Setiausaha yang
bertanggungjawab kepada Ketua Polis Negara, Tun Haniff Omar,
Pegawai Polis Daerah Sentul, Alor Setar dan Sungai Petani dan
Penolong Pesuruhjaya Penyelidikan dan Perancangan di Bukit
Aman. Pada tahun 2002, beliau menjadi Timbalan Pengarah
Pengurusan (Disiplin), Timbalan Pengarah Jabatan Narkotik
pada tahun 2003, Ketua Polis Negeri Sembilan pada tahun
2004, Timbalan Pengarah, Jabatan Siasatan Jenayah Komersial
pada tahun 2005 dan sebagai Ketua Polis Kuala Lumpur pada
tahun 2006 sehingga persaraan beliau. Pada bulan April 2007,
beliau membuka syarikat guamannya sendiri, Sulaiman &
Saif. Beliau juga merupakan Pengarah AWC Facility Solutions
Berhad dan beberapa syarikat sendirian berhad yang lain.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful Malaysia
dan tidak mempunyai percanggahan kepentingan dengan
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh tahun (10) yang lalu dan
telah menghadiri sembilan (9) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2009.
He started his career as a Cadet Reporter Trainee with Bernama
News Agency in 1969. Later in the same year, he joined Royal
Malaysia Police. He assumed various positions at the Royal
Malaysia Police such as Deputy Superintendent of Personnel,
Secretary responsible for the IGP, Tun Haniff Omar, Officer
of Police District Sentul, Alor Setar and Sungai Petani and
Assistant Commissioner with Research and Planning at Bukit
Aman. In 2002, he became the Deputy Director Management
(Discipline), in 2003 as Deputy Director Narkotics Department,
in 2004 as the Chief Police Officer Negeri Sembilan, in 2005 as
Deputy Director Commercial Crime Investigation Department
and in 2006 as Chief Police Officer of Kuala Lumpur until his
retirement. In April 2007, he started his own legal firm, Sulaiman
& Saif. He is also a Director of AWC Facility Solutions Berhad
and other private limited companies.
He has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. He has no conviction for offences
within the past ten (10) years and has attended nine (9 ) Board
of Director’s meeting during the financial year ended 30 June
2009.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Lembaga Pengarah
Board of Directors’ Profile
Encik Johan b. Abdulah
Pengarah Bukan Eksekutif Bukan Bebas /
Non-Independent Non-Executive Director
Encik Johan b. Abdullah, berusia 53 tahun, adalah warganegara
Malaysia dan merupakan Pengarah Bukan Eksekutif Bukan
Bebas Takaful Malaysia dan telah dilantik pada 15 Ogos 2008.
Beliau juga merupakan ahli Jawatankuasa Pemilihan dan
Jawatankuasa Pengurusan Risiko.
Encik Johan b. Abdullah, aged 53, is a Malaysian citizen and is
a Non-Independent Non-Executive Director of Takaful Malaysia
and was appointed to the Board on 15 August 2008. He is also
a member of the Nomination Committee and Risk Management
Committee.
Beliau memperolehi Diploma Perbankan dari Universiti
Teknologi MARA, Shah Alam pada tahun 1983, Ijazah Sarjana
Muda Pentadbiran Perniagaan (Kewangan) dari Eastern Michigan
University, Michigan, USA pada tahun 1985 dan Ijazah Sarjana
Pentadbiran Perniagaan (Kewangan) dari Morehead State
University, Kentucky, USA pada tahun 1986.
He obtained a Diploma in Banking from University Technology
MARA, Shah Alam in 1983, a Bachelor of Business
Administration (Finance) from Eastern Michigan University,
Michigan, USA in 1985 and a Master in Business Administration
(Finance) from Morehead State University, Kentucky, USA in
1986.
Beliau memulakan kerjaya profesionalnya pada tahun 1987 di
Kuala Lumpur Stock Exchange (sekarang ini dikenali sebagai
Bursa Malaysia Berhad) sebagai Pegawai Penyenaraian. Pada
tahun 1989, beliau menyertai bahagian Kewangan Korporat di
Bumiputra Merchant Bankers Berhad dan meletak jawatan pada
awal tahun 1995 sebagai Pengurus Kanan. Beliau kemudiannya
menyertai Damansara Realty Berhad sebagai Pengurus Besar,
Perancangan Korporat. Seterusnya pada tahun 1999, beliau
menyertai semula Bursa Malaysia Berhad dan telah memegang
pelbagai jawatan kanan termasuk Deputy Chief Regulatory
Officer, Group Regulation. Pada bulan Mei 2008, beliau
menyertai BIMB Holdings Berhad sebagai Pengarah Urusan
Kumpulan/Ketua Pegawai Eksekutif. Beliau juga merupakan
Pengarah Bank Islam Malaysia Berhad.
He started his professional career in 1987 with Kuala Lumpur
Stock Exchange (currently known as Bursa Malaysia Berhad) as
Listing Officer. In 1989, he joined Corporate Finance division of
Bumiputra Merchant Bankers Berhad and left the bank in early
1995 as Senior Manager. Later he joined Damansara Realty
Berhad as General Manager, Corporate Planning. Subsequently
in the year 1999, he re-joined Bursa Malaysia Berhad and took
up various senior positions including that of Deputy Chief
Regulatory Officer, Group Regulation. In May 2008, he joined
BIMB Holdings Berhad as Group Managing Director/Chief
Executive Officer. He is also a director of Bank Islam Malaysia
Berhad.
Beliau tidak mempunyai perhubungan kekeluargaan dengan
mana-mana pengarah/pemegang saham utama Takaful Malaysia
dan tidak mempunyai percanggahan kepentingan dengan
Takaful Malaysia. Beliau tidak pernah disabitkan dengan apaapa kesalahan dalam tempoh sepuluh tahun (10) yang lalu
dan telah menghadiri lapan (8) mesyuarat Lembaga Pengarah
semasa tahun kewangan berakhir 30 Jun 2009.
He has no family relationship with any other directors/major
shareholders of Takaful Malaysia and has no conflict of interest
with Takaful Malaysia. He has no conviction for offences
within the past ten (10) years and has attended eight (8) Board
of Director’s meeting during the financial year ended 30 June
2009.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
Y. Bhg. Ustaz Mohd Bakir B. Haji Mansor
Y. Bhg. Ustaz Mohd Bakir b. Haji Mansor, berusia 73 tahun,
adalah warganegara Malaysia dan merupakan Pengerusi Badan
Penasihat Syariah (BPS) Takaful Malaysia dan telah dilantik
pada 1 Julai 2002.
Y. Bhg. Ustaz Mohd Bakir b. Haji Mansor, aged 73, is a
Malaysian citizen and is the Chairman of the Shariah Advisory
Body (SAB) of Takaful Malaysia and was appointed on 1 July
2002.
Beliau memperolehi Shahadah Ulya (Sijil Tertinggi) dari Kolej
Islam Malaya pada tahun 1965.
He obtained the Shahadah Ulya (Highest Certificate) from Kolej
Islam Malaya in 1965.
Beliau telah memulakan kerjayanya sebagai guru sementara
di Madrasah Mashhoor Islamiyah, Pulau Pinang dari tahun
1967 hingga 1970. Beliau kemudiannya berkhidmat sebagai
Pegawai Penerangan sementara di Majlis Kebangsaan Hal
Ehwal Agama Islam Malaysia mulai tahun 1971 hingga 1973;
sebagai Pegawai Hal Ehwal Islam di Bahagian Hal Ehwal
Islam, Jabatan Perdana Menteri dari tahun 1973 hingga 1977;
sebagai Pegawai Perancangan Pendidikan Ugama di Jabatan
Kemajuan Masyarakat, Kementerian Pertanian dari tahun
1978 hingga 1980; sebagai Penolong Pengarah Dokumentasi
di Bahagian Hal Ehwal Islam, Jabatan Perdana Menteri mulai
tahun 1980 hingga 1981 dan sebagai Ketua Penolong Pengarah
Pusat Penyelidikan Islam dari tahun 1981 hingga 1984. Beliau
kemudiannya berkhidmat dengan Bank Islam Malaysia Berhad
sebagai Koordinator Syariah dari tahun 1984 hingga 2001.
He started his career as a temporary teacher at Madrasah
Mashhoor Islamiyah, Pulau Pinang from 1967 to 1970. He
then served as a temporary Information Officer at the National
Council for Islamic Religious Affairs Malaysia from 1971
to 1973; as an Islamic Affairs Officer at the Islamic Affairs
Division, the Prime Minister’s Department from 1973 to 1977;
as Religious Education Planning Officer at Development
Community Department, Ministry of Agriculture from 1978 to
1980; as an Assistant Documentation Director at the Islamic
Affairs Division, the Prime Minister’s Department from 1980
to 1981 and as a Chief Assistant Director of Islamic Research
Centre from 1981 to 1984. He then served at Bank Islam
Malaysia Berhad as Shariah Coordinator from 1984 to 2001.
Beliau pernah berkhidmat sebagai Internal Research Fellow for
Centre of Fiqh Muamalat di Institut Perbankan dan Kewangan
Islam Malaysia (IBFIM) dari 2 Januari 2001 hingga 30 Jun
2009. Beliau kini merupakan Distinguished Shariah Advisor
for Centre of Fiqh Muamalat berkuatkuasa dari 1 Julai 2009.
Beliau juga adalah ahli Majlis Pengawasan Syariah Bank
Islam Malaysia Berhad, ahli Jawatankuasa Panel Syariah
Amanah Ikhtiar Malaysia, Pengerusi Jawatankuasa Penasihat
Syariah BIMB Securities Sdn Bhd dan Pengerusi Jawatankuasa
Penasihat Syariah Persatuan Institusi Perbankan Islam Malaysia.
Sebelum dilantik sebagai ahli BPS Takaful Malaysia pada 1 Julai
2002, beliau adalah Setiausaha BPS Takaful Malaysia sejak ia
ditubuhkan pada tahun 1985 hingga Disember 2001.
He was previously an Internal Research Fellow for Centre of Fiqh
Muamalat at Islamic Banking and Finance Institute Malaysia
(IBFIM) from 2 January 2001 until 30 June 2009. He is currently
a Distinguished Shariah Advisor for Centre of Fiqh Muamalat
effective from 1 July 2009. He is also a member of the Shariah
Supervisory Council of Bank Islam Malaysia Berhad, a member
of the Shariah Advisory Committee of Amanah Ikhtiar Malaysia,
the Chairman of BIMB Securities Sdn Bhd and the Chairman of
the Shariah Advisory Committee of the Association of Islamic
Banking Institutions Malaysia. Before being appointed as a
member of SAB of Takaful Malaysia on 1 July 2002, he was the
Secretary of SAB of Takaful Malaysia since its inception in 1985
to December 2001.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
Y. Bhg. Dr. Ahmad Shahbari @ Sobri B. Salamon
Y. Bhg. Dr. Ahmad Shahbari @ Sobri b. Salamon berusia 67
tahun, adalah warganegara Malaysia dan merupakan ahli
Badan Penasihat Syariah (BPS) Takaful Malaysia dan telah
dilantik pada 1 Julai 1985.
Y. Bhg. Dr. Ahmad Shahbari @ Sobri b. Salamon, aged 67, is
a Malaysian citizen and is a member of the Shariah Advisory
Body (SAB) of Takaful Malaysia and was appointed on 1 July
1985.
Beliau memperolehi Ijazah Sarjana Muda Sastera dalam
Syariah, dari Universiti Al–Azhar, Mesir pada tahun 1970,
Sarjana Sastera dalam Pengajian Antarabangsa dari Universiti
Fairleigh Dickenson, Amerika Syarikat pada tahun 1973 dan
kemudian melanjutkan pengajian di peringkat Ijazah Doktor
Falsafah dalam Sejarah di Universiti New York, Amerika Syarikat
pada tahun 1979.
He graduated with a Bachelor of Arts degree in Shariah from
the University of Al-Azhar, Egypt in 1970, a Master of Arts in
International Studies from Fairleigh Dickenson University, USA
in 1973 and a Doctor of Philosophy in History from New York
University, USA in 1979.
Beliau memulakan kerjayanya pada tahun 1978 sebagai
Pensyarah di Jabatan Syariah, Fakulti Pengajian Islam, Universiti
Kebangsaan Malaysia (UKM) sebelum dipinjamkan ke
Universiti Islam Antarabangsa (UIAM) dari tahun 1983 hingga
1984. Semasa di UKM, beliau telah dilantik sebagai Penyelaras
bagi Pendidikan Umum dari tahun 1981 hingga 1982. Pada
tahun 1982, beliau berkhidmat sebagai Pemangku Ketua
Jabatan Syariah. Beliau juga merupakan Penyelaras Program
Diploma dan Sijil Pengajian Islam UKM sehingga tahun 1983.
Beliau kembali ke UKM pada tahun 1984 sebagai Pensyarah
di Jabatan Syariah sehingga tahun 1985. Kemudian beliau
menjadi Pengarah Eksekutif Pusat Rawatan Islam (MAIS) dari
tahun 1996 hingga 1999. Kini, beliau merupakan Pengerusi
Pusrawi Corporation Sdn Bhd.
Beliau telah menghasilkan tulisan dalam bidang pendidikan,
ekonomi, perbankan Islam dan perundangan Islam sebanyak
12 buah buku, 7 jilid terjemahan, 300 skrip tv dan 40 kertas
kerja. Beliau juga dianugerahkan sebagai ‘Tokoh Ulamak
Bestari Negeri Selangor’ pada tahun 2000, ‘Tokoh Ma’al Hijrah
Negeri Selangor’ pada tahun 2001 dan Ahli Majlis Agama Islam
Negeri Selangor selama 21 tahun.
He started his career in 1978 as a Lecturer at the Shariah
Department, Faculty of Islamic Studies, Universiti Kebangsaan
Malaysia (UKM) prior to his secondment to the International
Islamic University Malaysia (IIUM) from 1983 to 1984. Whilst
with UKM, he was appointed as the Coordinator for the General
Teachings from 1981 to 1982. In 1982, he served as the Acting
Head of the Shariah Department. He was also the Programme
Coordinator for Diploma and Certificate in Islamic Studies of
UKM until 1983. He returned to UKM in 1984 as a Lecturer
in the Shariah Department until 1985. He then became an
Executive Director of Pusat Rawatan Islam (MAIS) from 1996
to 1999. At present, he is the Chairman of Pusrawi Corporation
Sdn Bhd.
He has produced writings in educational, economy, Islamic
banking and Islamic law, a total of 12 books, 7 translation
bindery, 300 tv scripts and 40 paper works. He was also awarded
‘Tokoh Ulamak Bestari Negeri Selangor’ in 2000, ‘Tokoh Ma’al
Hijrah Negeri Selangor’ in 2001 and a member of Religious
Council of Selangor State for 21 years.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
Y. Bhg. Datuk Abdul Hamid B. Said
Y. Bhg. Datuk Abdul Hamid b. Said, berusia 71 tahun, adalah
warganegara Malaysia dan merupakan ahli Badan Penasihat
Syariah (BPS) Takaful Malaysia dan telah dilantik pada 8 Ogos
2005.
Beliau berkelulusan Barrister-At-Law dari Council of Legal
Education, England pada tahun 1980.
Setelah tamat persekolahan di Sekolah Tinggi, Melaka pada
tahun 1957, beliau telah menjalani latihan perguruan di
Malayan Teachers College, Kirkby, Liverpool, England dari tahun
1959 sehingga 1960. Pada tahun 1961, beliau memulakan
kerjayanya sebagai Pensyarah di Maktab Perguruan Brunei.
Pada tahun 1964, beliau telah dipanggil pulang ke Malaysia
dan bertugas sebagai guru di Sekolah Menengah Kebangsaan
Melaka. Pada tahun 1973, beliau menyertai Kementerian
Kebudayaan, Belia dan Sukan sebagai Pegawai Sukan. Dari
tahun 1979 sehingga 1980, beliau telah menyambung
pelajarannya di Council of Legal Education, London, England.
Selepas tamat pengajiannya pada tahun 1981, beliau telah
dilantik sebagai Peguam Persekutuan, Pejabat Peguam Negara.
Beliau kemudiannya meletak jawatan untuk menjadi Pengamal
Undang-Undang di Mahkamah Tinggi Malaya selama 14
tahun. Pada tahun 1998, beliau dilantik menjadi Pesuruhjaya
Kehakiman, Mahkamah Tinggi Melaka. Pada tahun 2000,
beliau ditukarkan ke Mahkamah Tinggi Kuala Lumpur di mana
beliau dilantik sebagai Hakim Mahkamah Tinggi Malaya.
Beliau bersara pada tahun 2003. Pada tahun yang sama, beliau
dilantik menjadi Pengerusi Lembaga Disiplin Peguamcara dan
Peguambela selama dua tahun. Beliau juga merupakan Fellow
Kanan Akademik di Universiti Islam Antarabangsa Malaysia
sehingga 2006.
Kini beliau memegang jawatan sebagai ahli Lembaga Pengarah
IJN College Sdn Bhd dan ahli Jawatankuasa Pematuhan Risiko
Institut Jantung Negara.
Y. Bhg. Datuk Abdul Hamid b. Said, aged 71, is a Malaysian
citizen and is a member of the Shariah Advisory Body (SAB) of
Takaful Malaysia and was appointed on 8 August 2005.
He obtained the Barrister-At-Law from the Council of Legal
Education, England in 1980.
After completing his secondary education at Malacca High
School in 1957, he underwent training at the Malayan Teachers
College, Kirkby, Liverpool, England from 1959 to 1960. In
1961, he started his career as a Lecturer in the Teachers Training
College Brunei. In 1964, he was called back to Malaysia and
served as a teacher at Sekolah Menengah Kebangsaan Melaka.
In 1973, he joined Kementerian Kebudayaan Belia dan Sukan
as a Sports Officer. From 1979 to 1980, he continued his studies
in the Council of Legal Education, London, England. Upon
completion in 1981, he was appointed as a Federal Council at
the Attorney General Chambers. He resigned to become a Law
Practitioner in the High Court of Malaya for 14 years. In 1998,
he was appointed as Judicial Commissioner in Malacca High
Court. In 2000, he was transferred to the Kuala Lumpur High
Court where he was appointed as a Judge in the High Court of
Malaya. He retired in 2003. In the same year, he was appointed
as the Chairman of the Advocate & Solicitor Disciplinary Body
for two years. He also served as Senior Academic Fellow at the
International Islamic University Malaysia until 2006.
Presently, he is a Director of IJN College Sdn Bhd and a member
of Risk Compliance of Institut Jantung Negara.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Profil Badan Penasihat Syariah
Shariah Advisory Body’s Profile
Y. Bhg. Dr. Aida Bt. Othman
Y. Bhg. Dr. Aida bt. Othman berusia 40 tahun, adalah
warganegara Malaysia dan merupakan ahli Badan Penasihat
Syariah (BPS) Takaful Malaysia dan telah dilantik pada 6 Mac
2008.
Beliau memperolehi Ijazah Sarjana Muda Undang-undang
(LL.B) dari Universiti Islam Antarabangsa pada tahun 1992
dan Ijazah Sarjana Muda Undang-undang (LL.B Syariah) pada
tahun 1993. Pada tahun 1995, beliau memperolehi Sarjana
Undang-undang (LL.M) dari Universiti Cambridge, England
dan pada tahun 2005 beliau memperolehi Doktor Falsafah dari
Universiti Harvard, Amerika Syarikat. Beliau juga memperolehi
PostDoctorate Fellowship dari Universiti Harvard pada tahun
2006.
Beliau memulakan kerjayanya dengan Tetuan Zain & Co. pada
tahun 1993 sebagai Penolong Pegawai Undang-Undang. Pada
tahun 1995, beliau menyertai Universiti Islam Antarabangsa
sebagai Pensyarah. Kemudian beliau menjadi Penyelidik di
United Nations dari tahun 1998 hingga 1999. Pada tahun
2002, beliau berkhidmat di Universiti Harvard sebagai Teaching
Fellow sehingga tahun 2003 dan PostDoctorate Fellow dan
Teaching Assistant dari tahun 2005 hingga 2006.
Beliau kini merupakan Rakan kongsi di firma guaman Zaid
Ibrahim & Co. dan juga sebagai Pengarah di ZI Shariah Advisory
Sdn Bhd.
Y. Bhg. Dr. Aida bt. Othman aged 40, is a Malaysian citizen
and is a member of the Shariah Advisory Body (SAB) of Takaful
Malaysia and was appointed on 6 March 2008.
She graduated from the International Islamic University
Malaysia with a Bachelor of Law (LL.B) degree in 1992 and a
Bachelor of Law (LL.B Shariah) degree in 1993. In 1995, she
obtained Master in Law (LL.M) from the Cambridge University,
England and in 2005, she obtained a Doctor of Philosophy from
the Harvard University, USA. She also obtained PostDoctorate
Fellowship from the Harvard University in 2006.
She started her career with Messrs. Zain & Co. in 1993 as
Assistant Legal Officer. In 1995, she joined International Islamic
University Malaysia as a Lecturer. After that, she became a
Researcher at United Nations from 1998 until 1999. In 2002,
she joined the Harvard University as Teaching Fellow until
2003 and PostDoctorate Fellow and Teaching Assistant from
2005 until 2006.
Currently she is a Partner at the law firm, Zaid Ibrahim & Co. as
well as a Director at ZI Shariah Advisory Sdn Bhd.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Jawatankuasa Pengurusan
Management Committee
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/
Group Managing Director
Puan Azian bt. Kassim
Ketua Pegawai Pelaburan/
Chief Investment Officer
Encik Nazrul Hisham b. Abdul Hamid
Ketua Pegawai Audit Dalaman/
Chief Internal Auditor
Encik Abdul Khalid b. Salleh
Pengurus Besar, Jualan & Pemasaran/
Bancatakaful/General Manager, Sales &
Marketing/Bancatakaful
Puan Balilah bt. Hassan
Pengurus Besar, Sumber Manusia/
General Manager, Human Resource
Encik Lee Kok Wah
Ketua Pegawai Kewangan/
Chief Financial Officer
Encik Izzuddin b. Tajudin
Ketua Pegawai Eksekutif/
Chief Executive Officer
Asean Retakaful International (L) Ltd
Encik Mohamad Asri b. Hj. Yusoff
Setiausaha Syarikat/Pengurus Besar,
Hal Ehwal Korporat/Company Secretary/
General Manager, Corporate Affairs
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
Lembaga Pengarah Syarikat Takaful Malaysia Berhad (“Takaful
Malaysia”) dengan berbesar hati membentangkan Laporan
Jawatankuasa Audit bagi tahun kewangan yang dikaji.
The Board of Directors of Syarikat Takaful Malaysia Berhad
(“Takaful Malaysia”) is pleased to present the Audit Committee
Report for the financial year under review.
Jawatankuasa Audit (“Jawatankuasa”) telah ditubuhkan pada 6
Mac 1990 untuk menilai struktur kewangan, sistem kawalan
dalaman, perancangan strategik dan pelaksanaan fungsi audit
Takaful Malaysia dan untuk mencadangkan keputusan yang
boleh dilaksanakan bagi memastikan piawaian tanggungjawab
korporat, kewibawaan dan kebertanggungjawaban kepada para
pemegang saham yang tinggi, selaras dengan piawaian urus
tadbir dan pendedahan yang dikehendaki daripada sebuah
syarikat senarai awam di Malaysia.
The Audit Committee (“Committee”) was established on 6
March 1990 to appraise Takaful Malaysia’s financial structure,
internal control system, strategic planning, implementation
of audit function and to propose applicable decisions in
ensuring a high standard of corporate responsibility, integrity
and accountability to shareholders in line with the corporate
governance and disclosure standards expected from that of a
public listed company in Malaysia.
KEAHLIAN DAN MESYUARAT
MEMBERSHIP AND MEETINGS
Jawatankuasa terdiri daripada empat (4) orang ahli, tiga (3)
daripada mereka adalah Pengarah Bukan Eksekutif Bebas.
Maklumat terperinci mengenai ahli dan mesyuarat yang
diadakan sepanjang tahun kewangan berakhir 30 Jun 2009
adalah seperti berikut:
The Committee currently comprises four (4) members, three (3)
of whom are Independent Non-Executive Directors. The details
of members and meetings held during the financial year ended
30 June 2009 are as follows:
Nama Ahli
Jawatankuasa Audit
Bil. Mesyuarat
Diadakan
Dihadiri
Name of Audit Committee Members No. of Meetings
Held Attended
Encik Mahadzir b. Azizan (Chairman)
(Independent Non-Executive Director)
4*
4
9
Y. A. M. Tengku Azman Ibni
Almarhum Sultan Abu Bakar
(Independent Non-Executive Director)
9
9
9
Puan Rozaida bt. Omar (Non-Independent Non-Executive Director)
9
9
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof (Independent Non-Executive Director)
9
9
Encik Mahadzir b. Azizan (Pengerusi)
(Pengarah Bukan Eksekutif Bebas)
4*
4
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
(Pengarah Bukan Eksekutif Bebas)
9
Puan Rozaida bt. Omar (Pengarah Bukan Eksekutif Bukan Bebas)
9
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof 9
9
(Pengarah Bukan Eksekutif Bebas)
Nota: *Encik Mahadzir b. Azizan telah dilantik sebagai
Pengerusi/Ahli Jawatankuasa Audit berkuatkuasa dari 15
Januari 2009. Oleh yang demikian, bilangan mesyuarat yang
diadakan dan yang dihadiri hanya menunjukkan mesyuarat
yang diadakan dan dihadiri selepas pelantikan beliau sebagai
Pengerusi/ Ahli Jawatankuasa Audit pada 15 Januari 2009.
Puan Rozaida bt. Omar adalah ahli Institut Akauntan Malaysia
(“MIA”). Oleh itu, Takaful Malaysia telah mematuhi Perenggan
15.09(1)(c)(i) Keperluan Penyenaraian Pasaran Utama
(“Keperluan Penyenaraian”) Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) yang menggariskan bahawa sekurangkurangnya seorang (1) ahli Jawatankuasa mestilah merupakan
ahli MIA.
Note: *Encik Mahadzir b. Azizan was appointed as the
Chairman/Member of the Audit Committee effective from 15
January 2009. Therefore, the number of meetings held and
attended reflect only those meetings held and attended after his
appointment as the Chairman/Member of Audit Committee on
15 January 2009.
Puan Rozaida bt. Omar is a member of the Malaysian Institute
of Accountants (“MIA”). Thus, Takaful Malaysia complies with
Paragraph 15.09 (1)(c)(i) of the Main Market Listing Requirements
(“Listing Requirements”) of Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) which stipulate that at least one (1) member
of the Committee must be a member of the MIA.
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28
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
Jawatankuasa telah bermesyuarat sebanyak sembilan (9) kali
pada tahun kewangan ini. Mesyuarat tersebut telah disusun dan
dijalankan dengan sewajarnya melalui penggunaan agenda
yang diedarkan kepada ahli terlebih dahulu dengan notis yang
mencukupi.
Pengarah Urusan Kumpulan, Ketua Pegawai Kewangan/Ketua
Bahagian Kewangan dan Ketua Audit Dalaman selalunya
menghadiri mesyuarat tersebut. Dalam tahun kewangan
berakhir 30 Jun 2009, Pengarah Urusan Kumpulan, Ketua
Pegawai Kewangan/Ketua Bahagian Kewangan dan Ketua Audit
Dalaman menghadiri kesemua mesyuarat yang diadakan.
TERMA RUJUKAN
Komposisi
Ahli Jawatankuasa hendaklah dilantik oleh Lembaga Pengarah
daripada kalangan mereka dan hendaklah terdiri daripada
sekurang-kurangnya tiga (3) orang ahli, di mana kesemuanya
hendaklah terdiri dari Pengarah Bukan Eksekutif dengan
majoritinya adalah Pengarah Bebas. Seorang Pengarah Bukan
Eksekutif Bebas hendaklah merupakan ahli yang memenuhi
keperluan seperti yang diperuntukkan dalam Keperluan
Penyenaraian Bursa Malaysia dan garis panduan Bank Negara
Malaysia (“BNM”).
Sekurang-kurangnya seorang (1) ahli Jawatankuasa:
1) mestilah merupakan ahli MIA; atau
2) jika beliau bukan ahli MIA, beliau mestilah mempunyai
pengalaman bekerja sekurang-kurangnya selama tiga (3)
tahun dan:
(a) beliau mestilah lulus peperiksaan yang dinyatakan
dalam Bahagian I Jadual Pertama Akta Akauntan 1967;
atau
(b) beliau mestilah merupakan ahli salah sebuah persatuan
akauntan yang dinyatakan dalam Bahagian II Jadual
Pertama Akta Akauntan 1967; atau
3) memenuhi keperluan-keperluan lain yang digariskan atau
diluluskan oleh Bursa Malaysia.
Ahli Jawatankuasa hendaklah melantik Pengerusi daripada
kalangan mereka yang merupakan seorang Pengarah Bukan
Eksekutif Bebas. Sekiranya seorang ahli Jawatankuasa meletak
jawatan, meninggal dunia atau atas sebarang sebab tidak lagi
menjadi ahli sehingga menyebabkan bilangan ahli kurang
daripada tiga (3) orang, maka Lembaga Pengarah hendaklah
melantik ahli baru dalam bilangan yang diperlukan untuk
mencukupkan bilangan minimum ahli kepada tiga (3) orang
dalam tempoh tiga (3) bulan dari peristiwa tersebut. Pengarah
gantian tidak boleh dilantik sebagai ahli Jawatankuasa.
The Committee met nine (9) times during the financial year. The
meetings were appropriately structured and conducted through
the use of agenda which were distributed to members with
sufficient notification.
The Group Managing Director, the Chief Financial Officer/Head
of Finance Division and the Chief Internal Auditor normally
attend the meetings. During the financial year ended 30 June
2009, the Group Managing Director, the Chief Financial Officer/
Head of Finance Division and the Chief Internal Auditor
attended all the meetings held.
TERM OF REFERENCE
Composition
The members of the Committee shall be appointed by the
Board from amongst their numbers and shall comprise at
least three (3) members, all of whom must be Non-Executive
Directors with majority of them shall be Independent Directors.
An Independent Non-Executive Director shall be the one who
fulfils the requirements as provided in the Bursa Malaysia Listing
Requirements and the guidelines of Bank Negara Malaysia
(“BNM”).
At least one (1) member of the Committee:
1) must be a member of the MIA; or
2) if he is not a member of the MIA, he must have at least
three (3) years’ working experience and:
(a) he must have passed the examinations specified in Part
I of the 1st Schedule of the Accountants Act 1967; or
(b) he must be a member of one of the associations of
accountants specified in Part II of the 1st Schedule of
the Accountants Act 1967; or
3) fulfils such other requirements as prescribed or approved
by Bursa Malaysia.
The members of the Committee shall elect a Chairman from
amongst their numbers who shall be an Independent NonExecutive Director. If a member of the Committee resigns,
dies or for any reason ceases to be a member with the result
that the number of members are reduced below three (3), the
Board shall within three (3) months of that event, appoint such
number of new members as may be required to make up the
minimum number of three (3) members. No alternate Director
can be appointed as a member of the Committee.
The Board shall review the term of office and performance of the
Committee and each of its members at least once every three
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
Lembaga Pengarah hendaklah mengkaji semula tempoh
perkhidmatan dan prestasi Jawatankuasa Audit dan setiap
ahlinya sekurang-kurangnya setiap tiga (3) tahun sekali bagi
memastikan Jawatankuasa dan ahlinya telah menjalankan
tugas-tugas mereka berdasarkan terma rujukan.
Korum dan Prosedur Jawatankuasa
Mesyuarat hendaklah diadakan sekurang-kurangnya empat (4)
kali setahun atau dengan lebih kerap, mengikut keperluan.
Bagi membentuk korum mesyuarat, majoriti ahli yang hadir
mestilah merupakan Pengarah Bukan Eksekutif Bebas. Sekiranya
Pengerusi tidak hadir, ahli-ahli yang hadir hendaklah melantik
seorang Pengerusi bagi mesyuarat tersebut daripada kalangan
ahli-ahli yang hadir.
Setiausaha Syarikat hendaklah bertindak sebagai Setiausaha
Jawatankuasa. Atas persetujuan Pengerusi, Setiausaha
hendaklah merangka agenda yang akan diedarkan kepada
ahli Jawatankuasa bersama-sama dengan kertas sokongan
yang berkaitan dalam tempoh yang berpatutan sebelum setiap
mesyuarat. Setiausaha hendaklah mengedarkan minit mesyuarat
kepada semua ahli Jawatankuasa.
Jawatankuasa boleh, apabila dianggap perlu, menjemput ahli
Lembaga Pengarah lain dan/atau ahli Pengurusan Kanan untuk
menghadiri mesyuarat Jawatankuasa.
Jawatankuasa ini hendaklah bermesyuarat dengan juruaudit
luar sekurang-kurangnya dua (2) kali setahun, untuk
membincangkan sebarang perkara dengan Jawatankuasa tanpa
kehadiran mana-mana ahli eksekutif Lembaga Pengarah dan
Pengurusan Kanan. Pengerusi Jawatankuasa akan mengadakan
mesyuarat untuk mempertimbangkan sebarang perkara yang
pihak juruaudit luar percaya perlu di bawa kepada perhatian
para Pengarah atau pemegang saham.
Jawatankuasa hendaklah mengatur prosiding mesyuaratnya,
dengan mengambil kira konvensyen biasa berhubung perkara
tersebut.
Kuasa
Jawatankuasa diberi kuasa oleh Lembaga Pengarah untuk
menyiasat sebarang perkara dalam terma rujukannya.
Jawatankuasa juga diberi kuasa untuk mendapatkan sebarang
maklumat yang diperlukan daripada mana-mana kakitangan
dan semua kakitangan dikehendaki memberi kerjasama
terhadap sebarang permintaan yang dibuat oleh Jawatankuasa.
Jawatankuasa hendaklah mempunyai akses penuh dan
tanpa had kepada sebarang maklumat berkaitan Kumpulan
dan hendaklah mempunyai sumber yang diperlukan untuk
melaksanakan tugasnya. Jawatankuasa boleh mendapatkan
(3) years to ensure the Committee and members have carried
out their duties in accordance with their terms of reference.
Quorum and Committee’s Procedures
Meetings shall be conducted at least four (4) times annually or
more frequently as circumstances dictate.
In order to form a quorum for the meeting, the majority
of members present must be Independent Non-Executive
Directors. In the absence of the Chairman, the members present
shall elect a Chairman for meeting from amongst the members
present.
The Company Secretary shall be the Secretary of the Committee.
The Secretary, in concurrence with the Chairman, shall draw
up an agenda, which shall be circulated together with relevant
support papers within reasonable time prior to each meeting
to the members of the Committee. The Secretary shall circulate
the minutes of meetings to all member of the Committee.
The Committee may, as and when deemed necessary, invite
other Board members and/or Senior Management members to
attend the Committee meetings.
The Committee shall, at least twice (2) a year, meet with the
external auditors to discuss any matter with the Committee
without the presence of any executive members of the Board
and Senior Management. The Chairman of the Committee shall
convene a meeting of the Committee to consider any matter
which the external auditors believe should be brought to the
attention of the Directors or shareholders.
The Committee shall regulate the manner of proceedings of
its meetings, having regard to normal conventions on such
matter.
Authority
The Committee is authorised by the Board to investigate any
matter within its terms of reference. It is authorised to seek any
information it requires from any employee and all employees
are required to cooperate with any request made by the
Committee.
The Committee shall have full and unrestricted access to any
information pertaining to the Group. The Committee shall
have the resources that are required to perform its duties. The
Committee can obtain, at the expense of Takaful Malaysia,
external legal or other independent professional advice it
considers necessary.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
nasihat perundangan atau profesional bebas luar lain yang
dianggap perlu, dengan perbelanjaan ditanggung oleh Takaful
Malaysia.
Jawatankuasa hendaklah mempunyai saluran komunikasi
secara langsung dengan juruaudit dalaman dan juruaudit luar,
kakitangan pengurusan risiko dan dengan Pengurusan Kanan
Kumpulan dan boleh mengadakan mesyuarat dengan juruaudit
luar, juruaudit dalaman atau kedua-duanya sekali, tanpa
dihadiri oleh para pengarah dan kakitangan Syarikat, bila-bila
dianggap perlu.
Sekiranya Jawatankuasa berpendapat bahawa sebarang
perkara yang dilaporkan olehnya kepada Lembaga Pengarah
masih belum diselesaikan dengan memuaskan sehingga
menyebabkan pelanggaran Keperluan Penyenaraian Bursa
Malaysia, Jawatankuasa hendaklah melaporkan dengan segera
perkara tersebut kepada Bursa Malaysia.
Tugas dan Tanggungjawab
Fungsi utama Jawatankuasa adalah untuk membantu Lembaga
Pengarah dalam menilai proses Kumpulan berkaitan dengan
risiko dan persekitaran kawalannya, mengawasi laporan
kewangan dan menilai proses audit dalaman dan luar.
The Committee shall have direct communication channels
with the internal and external auditors, the risk management
personnel and with Senior Management of the Group and shall
be able to convene meetings with the external auditors, the
internal auditors or both, excluding the attendance of other
directors and employees of the Company, whenever deemed
necessary.
Where the Committee is of the view that a matter reported by it
to the Board has not been satisfactorily resolved resulting in a
breach of Bursa Malaysia Listing Requirements, the Committee
shall promptly report such matter to the Bursa Malaysia.
Duties and Responsibilities
The primary function of the Committee is to assist the Board
to assess the Group’s processes relating to its risks and control
environment, oversee financial reporting and evaluate the
internal and external audit processes.
Therefore, the duties and responsibilities of the Committee are
as follows:
•
to review with the external auditor and report to the Board,
the audit scope and plan, including any changes to the
planned scope of the audit plan and evaluation of the
system of internal control.
•
to review the adequacy of the internal audit scope and
plan, functions, competency and resources of the internal
audit functions and that it has the necessary authority to
carry out its work.
•
to review the internal audit programme, processes, the
results of the internal audit programme, processes or
investigation undertaken and whether or not appropriate
action is taken on the recommendations of the internal
auditor.
•
to review the external and internal audit reports to ensure
that appropriate and prompt remedial action is taken
by Management on major deficiencies in controls or
procedures that are identified and reported to the Board.
•
to review the major audit findings and Management’s
response during the year with Management, external
auditors and internal auditors, including the status of
previous audit recommendations.
•
to review the assistance given by the Group’s employees to
the auditors, and any difficulties encountered in the course
Oleh yang demikian, tugas dan tanggungjawab Jawatankuasa
adalah seperti berikut:
•
mengkaji dengan juruaudit luar dan melaporkan kepada
Lembaga Pengarah, skop dan pelan audit, termasuk
sebarang perubahan kepada skop yang dirancang bagi
pelan audit dan penilaian bagi sistem kawalan dalaman.
•
mengkaji kecukupan skop dan pelan audit dalaman,
fungsi-fungsi, daya saing dan sumber fungsi audit dalaman
dan sama ada ianya mempunyai kuasa diperlukan untuk
menjalankan tugas.
•
mengkaji program dan proses audit dalaman, keputusan
program, proses atau penyiasatan audit dalaman yang
dilaksanakan dan sama ada tindakan yang sewajarnya
telah diambil berdasarkan syor-syor yang dikemukakan
oleh juruaudit dalaman.
•
mengkaji laporan audit dalaman dan luar bagi memastikan
supaya tindakan segera dan sewajarnya diambil oleh pihak
Pengurusan terhadap kekurangan utama dalam kawalan
atau prosedur yang telah dikenal pasti dan dilaporkan
kepada Lembaga Pengarah.
•
mengkaji penemuan audit utama dan tindakan Pengurusan
sepanjang tahun dengan pihak Pengurusan, juruaudit luar
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
dan juruaudit dalaman termasuk status syor-syor audit yang
terdahulu.
•
mengkaji kerjasama yang diberi oleh kakitangan Kumpulan
kepada juruaudit dan sebarang masalah yang dihadapi
dalam menjalankan kerja audit, termasuk sebarang
sekatan dalam skop aktiviti atau akses untuk mendapatkan
maklumat yang diperlukan.
•
mengkaji kebebasan dan objektif juruaudit luar dan
khidmat mereka, termasuk khidmat bukan audit dan yuran
profesional, bagi memastikan keseimbangan objektif dan
nilai wang.
•
of the audit work, including any restrictions on the scope
of activities or access to required information.
•
to review the independence and objectivity of the external
auditors and their services, including non-audit services
and the professional fees, so as to ensure a proper balance
between objectivity and value for money.
•
to review the appointment, performance, audit fees and
any question regarding the resignation or dismissal of
external auditors before making recommendations to the
Board.
mengkaji pelantikan, prestasi, yuran audit dan sebarang
persoalan berhubung peletakan jawatan atau pemecatan
juruaudit luar sebelum memberi cadangan kepada
Lembaga Pengarah.
•
mengkaji keputusan suku tahunan dan penyata kewangan
akhir tahun, sebelum kelulusan Lembaga Pengarah dengan
menumpu terutamanya kepada:
- perubahan atau pelaksanaan dasar dan praktis
perakaunan utama;
- pelarasan ketara dan peristiwa penting dan luar biasa
timbul dari audit;
- andaian perniagaan berterusan; dan
- pematuhan kepada standard kewangan, Bursa
Malaysia dan keperluan undang-undang.
to review the quarterly and year end financial statements,
before the approval by the Board, focusing particularly
on:
- changes in or implementation of major accounting
policy and practice;
- significant adjustments and unusual event arising from
the audit;
- the going concern assumption; and
- compliance with accounting standards, Bursa Malaysia
and other legal requirements.
•
to discuss problems and reservations arising from the
interim and final audits, and any matter the auditor may
wish to discuss (in the absence of Management where
necessary);
•
membincangkan masalah dan persoalan yang wujud dari
audit interim dan akhir dan sebarang perkara yang ingin
dibincangkan oleh juruaudit (tanpa kehadiran pihak
Pengurusan jika perlu);
•
to review whether there is a reason (supported by grounds)
to believe that the Company’s external auditors is not
suitable for the re-appointment.
•
mengkaji sama ada terdapat sebarang alasan (dengan
disokong oleh sebab-sebab tertentu) untuk mempercayai
bahawa juruaudit luar Syarikat tidak sesuai untuk dilantik
semula.
•
to review the Internal Audit Charter, budget and staffing of
the Internal Audit Division.
•
to review any appraisal or assessment of the performance
of members of the internal audit function.
•
•
mengkaji Piagam Audit Dalaman, belanjawan dan
komposisi kakitangan Bahagian Audit Dalaman.
•
to approve any appointment or termination of senior staff
members of the internal audit function.
•
mengkaji sebarang pencapaian dan penilaian terhadap
prestasi ahli fungsi audit dalaman.
•
•
meluluskan sebarang pelantikan
kakitangan kanan ahli audit dalaman.
to take cognizance of resignations of internal audit staff
members and provide the resigning staff member an
opportunity to submit his reasons for resigning.
•
menyedari peletakan jawatan kakitangan audit dalaman
dan memberi peluang kepada mereka menyatakan sebab
peletakan jawatannya.
•
to review the adequacy and integrity of internal controls,
the internal audit findings, and recommend action to be
taken by Management. The reports of the internal auditors
and the Committee should not be subject to the clearance
atau
pemecatan
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
•
•
•
mengkaji kecukupan dan kewibawaan kawalan dalaman,
penemuan audit dalaman dan mencadangkan tindakan
yang perlu diambil oleh Pengurusan. Laporan juruaudit
dalaman dan Jawatankuasa tidak harus tertakluk kepada
kebenaran dari Ketua Pegawai Eksekutif/Pengarah Urusan
Kumpulan dan Pengarah Eksekutif.
mengarah dan sekiranya wajar, menyelia sebarang projek
atau siasatan khas jika perlu, dan mengkaji laporan
siasatan berkenaan sebarang penyalahgunaan, penipuan
dan kecurian yang besar.
memastikan akaun disediakan tepat pada masanya dan
dengan cara yang tepat dengan kajian secara kerap
terhadap kecukupan peruntukan bagi luar jangka, dan
hutang lapuk dan hutang ragu.
•
memastikan penerbitan penyata/laporan
tahunan yang menepati masa.
•
mengkaji sebarang urusniaga pihak berkaitan dan situasi
konflik kepentingan yang mungkin timbul dalam Syarikat
atau Kumpulan, termasuk sebarang urusniaga, prosedur
atau tatacara yang menimbulkan persoalan terhadap
kewibawaan pihak Pengurusan.
•
melaksanakan sebarang fungsi lain
dipersetujui oleh Lembaga Pengarah.
yang
of the Chief Executive Officer/Group Managing Director
and Executive Directors.
•
to direct and where appropriate supervise any special
projects or investigation considered necessary, and review
investigation report on any major defalcation, frauds and
thefts.
•
to ensure that the accounts are prepared in a timely and
accurate manner with frequent reviews of the adequacy
of provisions against contingencies, and bad and doubtful
debts.
•
to ensure prompt publication of annual financial statements/
report.
•
to review any related party transaction and conflict of
interest situation that may arise within the Company or the
Group, including any transaction, procedure or course of
conduct that raises questions of management integrity.
•
to perform any other functions as may be agreed by the
Board.
kewangan
mungkin
RINGKASAN AKTIVITI JAWATANKUASA
SUMMARY OF ACTIVITIES OF THE COMMITTEE
The following activities were undertaken by the Committee
during the financial year under review:
•
Reviewed and monitored with the external auditors, the
results and progress of the audit for the financial year
ended 30 June 2008, the audit report and the Management
letter, including Management’s response thereto.
•
Discussed the re-appointment of external auditors for the
financial year ended 30 June 2009.
•
Reviewed the external auditors’ scope of work and audit
plans for the financial year ended 30 June 2009. Prior to the
audit, representatives from the external auditors presented
their audit strategy and plan.
•
Discussed the audit fees payable to the external auditors.
•
Discussed with external auditors any matters that warrant
the Board and Shareholders’ attention without the
presence of the member of the Executive Directors and
Management.
•
Reviewed the Internal Audit Division’s audit plan,
programmes and resources requirements for the financial
year under review.
Aktiviti-aktiviti berikut telah dijalankan oleh Jawatankuasa
sepanjang tahun kewangan yang dikaji:
•
Mengkaji dan memantau dengan juruaudit luar, keputusan
dan perkembangan audit bagi tahun kewangan berakhir 30
Jun 2008, laporan audit dan surat Pengurusan, termasuk
tindakan Pengurusan berkaitannya.
•
Berbincang mengenai pelantikan semula juruaudit luar
bagi tahun kewangan berakhir 30 Jun 2009.
•
Mengkaji skop kerja dan rancangan audit juruaudit luar
bagi tahun kewangan berakhir 30 Jun 2009. Sebelum
audit dijalankan, wakil-wakil juruaudit luar telah
membentangkan strategi dan rancangan audit.
•
Berbincang mengenai yuran audit yang perlu dibayar
kepada juruaudit luar.
•
Berbincang dengan juruaudit luar berhubung sebarang
perkara yang memerlukan perhatian Lembaga Pengarah
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
dan Pemegang Saham tanpa kehadiran ahli Lembaga
Pengarah Eksekutif dan pihak Pengurusan.
•
Mengkaji pelan audit, program dan keperluan sumber
Bahagian Audit Dalaman bagi tahun kewangan yang
dikaji.
•
Mengkaji laporan audit dalaman dan audit khas untuk
Takaful Malaysia dan subsidiarinya yang menekankan isuisu audit, cadangan dan maklum balas pihak Pengurusan
yang berkaitan. Berbincang dengan Pengurusan
mengenai tindakan yang telah dan akan diambil untuk
mempertingkatkan sistem kawalan dalaman berdasarkan
peluang-peluang penambahbaikan yang telah dikenal
pasti dalam laporan audit dalaman.
• Mengkaji laporan susulan oleh juruaudit dalaman
mengenai status tindakan yang diambil oleh pihak
Pengurusan terhadap cadangan yang diberikan dalam
laporan audit.
•
•
Mengkaji laporan susulan oleh juruaudit dalaman
berhubung isu-isu yang dibangkitkan berdasarkan
penemuan daripada pemeriksaan oleh BNM dan status
tindakan yang diambil oleh pihak Pengurusan mengenai
isu yang dibangkitkan oleh BNM.
Mengkaji laporan susulan oleh juruaudit dalaman
berhubung isu yang dibangkitkan dalam surat Pengurusan
oleh juruaudit luar dan status tindakan yang diambil oleh
pihak Pengurusan mengenai isu tersebut.
•
Mengkaji laporan pihak Pengurusan mengenai kes-kes
disiplin kakitangan.
•
Memantau perkembangan Bahagian Audit Dalaman
dalam menyelesaikan auditnya dalam tempoh yang telah
ditetapkan.
•
Memeriksa kecukupan kemahiran, pengetahuan dan daya
saing teras juruaudit dalaman.
•
Mengkaji penyata kewangan Syarikat yang telah diaudit
sebelum diserahkan kepada Lembaga Pengarah bagi
pertimbangan dan kelulusan mereka. Kajian ini adalah
untuk memastikan supaya penyata kewangan yang telah
diaudit disediakan mengikut peruntukan Akta Syarikat 1965
dan piawaian perakaunan berkaitan yang diluluskan.
•
Mengkaji pematuhan Syarikat terhadap Keperluan
Penyenaraian Bursa Malaysia, Akta Pasaran dan
Perkhidmatan Modal 2007, Garis Panduan BNM, piawaian
•
Reviewed the internal audit reports and special audit reports
for Takaful Malaysia and its subsidiaries, which highlighted
the audit issues, recommendations and Management’s
response thereto. Discussed with Management on actions
taken or to be taken to improve the system of internal
control based on improvement opportunities identified in
the internal audit reports.
•
Reviewed follow-up reports by the internal auditors
on the status of actions taken by the Management on
recommendations suggested in the audit reports.
•
Reviewed follow-up reports by the internal auditors on
BNM’s examination findings and status of actions taken by
the Management on issues raised by BNM.
•
Reviewed follow-up reports by the internal auditors on
external auditors’ findings as set out in the Management
letter and status of actions taken by the Management on
issues raised by the external auditors.
•
Reviewed Management report on disciplinary cases of its
employees.
•
Monitored the progress of the Internal Audit Division in
completing its audit within the stipulated time frame.
•
Examined the adequacy of the skills, knowledge and core
competencies of the internal auditors.
•
Reviewed the audited financial statements of the Company
prior to submission to the Board for their consideration
and approval. The review was to ensure that the audited
financial statements were drawn up in accordance with the
provisions of the Companies Act 1965 and the applicable
approved accounting standards.
•
Reviewed the Company’s compliance in particular the
quarterly and the year end financial statements with
Bursa Malaysia Listing Requirements, Capital Markets
and Services Act 2007, BNM Guidelines, applicable
approved accounting standards and other relevant legal
and regulatory requirements.
•
Reviewed the Compliance reports on the level of
compliance with Regulators’ requirements, laws and Acts.
•
Discussed the implementation of new requirements set
forth by the Regulators.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
perakaunan berkaitan yang diluluskan dan keperluankeperluan perundangan dan penguatkuasaan lain,
terutamanya bagi penyata kewangan suku tahunan dan
akhir tahun.
•
Mengkaji laporan Pematuhan mengenai tahap pematuhan
dengan keperluan Pihak Penguatkuasa, undang-undang
dan Akta.
•
Membincangkan pelaksanaan keperluan-keperluan baru
yang digariskan oleh Pihak Penguatkuasaan.
•
Mengkaji laporan berhubung Pencegahan Penggubahan
Wang Haram.
•
Mengkaji pengumuman keputusan kewangan suku tahunan
yang belum diaudit sebelum disyorkan kepada Lembaga
Pengarah untuk kelulusan.
•
Mengkaji urusniaga pihak yang berkaitan dalam Kumpulan.
•
Mengkaji penyata pendedahan dalam Laporan Tahunan
seperti Penyata Urus Tadbir Korporat, Penyata Kawalan
Dalaman dan Laporan Jawatankuasa Audit dalam mematuhi
Keperluan Penyenaraian Bursa Malaysia.
•
Menasihat dan membimbing perjalanan penyiasatan
di dalam sebarang aktiviti atau perkara dalam bidang
rujukannya.
•
Berhubung Skim Opsyen Saham Kakitangan Syarikat
(“Skim”), tiada sebarang peruntukan opsyen untuk dikaji
oleh Jawatankuasa pada tahun ini dan Skim telah tamat
tempoh pada 2 November 2008.
FUNGSI DAN AKTIVITI AUDIT DALAMAN
Bahagian Audit Dalaman adalah bebas daripada aktiviti
atau operasi unit-unit operasi lain dan melapor terus kepada
Jawatankuasa Audit. Peranan utama bahagian ini adalah untuk
menjalankan kajian sistem kawalan dalaman secara bebas,
kerap dan sistematik supaya dapat memberi jaminan yang
sewajarnya bahawa sistem tersebut mampu terus beroperasi
secara berkesan dan memuaskan. Audit dalaman mengamalkan
pendekatan berasaskan risiko dalam rancangan audit dan
pemeriksaannya.
Adalah menjadi tanggungjawab Bahagian Audit Dalaman untuk
menyediakan laporan bebas dan objektif kepada Jawatankuasa
tentang status kawalan dalaman di pelbagai unit operasi dalam
Kumpulan serta tahap pematuhan unit-unit tersebut terhadap
dasar dan prosedur Kumpulan serta terhadap keperluan
berkanun yang berkaitan.
•
Reviewed the reports on Anti Money Laundering.
•
Reviewed the quarterly unaudited financial results
announcements before recommending them for the Board’s
approval.
•
Reviewed related party transactions within the Group.
•
Reviewed the disclosure statements in the Annual Report
such as Corporate Governance Statement, Statement on
Internal Control and Audit Committee Report in compliance
with Bursa Malaysia Listing requirements.
•
Advised and guided the conduct of investigation into any
activity or matter within its terms of reference.
•
In respect of the Company’s Employees’ Share Option
Scheme (ESOS), there was no allocation of options in the
year for the Committee to review and the ESOS has expired
on 2 November 2008.
INTERNAL AUDIT FUNCTION AND ACTIVITIES
The Internal Audit Division is independent of the activities
or operations of other operating units and reports directly to
the Audit Committee. The principal role of the division is to
undertake independent regular and systematic reviews of
the systems of internal controls so as to provide reasonable
assurance that such systems continue to operate satisfactorily
and effectively. The internal audit practices a risk-based
approach in its audit plan and examination.
It is the responsibility of the Internal Audit Division to provide
the Committee with independent and objective reports on the
state of internal control of the various operating units within
the Group and the extent of compliance of the units with the
Group’s established policies and procedures as well as relevant
statutory requirements.
The following activities were undertaken by the Internal Audit
Division during the financial year under review:
•
Prepared audit rating methodology in assessing and
rating the risk levels of the various auditable areas for the
Committee’s consideration.
•
Prepared annual audit plan of departments, branches,
subsidiaries as well as IT for the Committee’s
consideration.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Laporan Jawatankuasa Audit
Audit Committee Report
Aktiviti-aktiviti berikut telah dijalankan oleh Bahagian Audit
Dalaman dalam tahun kewangan yang dikaji:
•
Conducted audits on departments, branches, subsidiaries,
etc. as set out in the Audit Plan.
•
•
Rendered advisory services to subsidiary company and
management of Company.
•
Conducted follow-up audit on status of actions taken
by the Management on recommendations suggested in
audit findings of internal auditors, external auditors, BNM
examiners, etc.
•
Conducted ad-hoc audits and investigations on special
cases.
•
Conducted reviews on IT system implementation before
embarking into production.
•
Participated in the Company’s system migration project/
activities.
•
Participated in tender and selection process in the capacity
of an observer.
•
Coordinated the revision exercise on Limit of authority
and Standard Operating Procedures via its compliance
function.
Menyediakan kaedah penarafan audit dalam menilai
dan memberi penarafan kepada tahap risiko di pelbagai
bahagian yang boleh diaudit untuk pertimbangan
Jawatankuasa.
•
Menyediakan pelan audit tahunan bagi jabatan, cawangan,
subsidiari serta IT untuk pertimbangan Jawatankuasa.
•
Menjalankan audit ke atas jabatan, cawangan, subsidiari
dan sebagainya seperti yang dinyatakan dalam Pelan
Audit.
•
Memberi khidmat nasihat kepada subsidiari dan Pengurusan
Syarikat.
•
Menjalankan audit susulan berhubung status tindakan
yang diambil oleh Pengurusan berdasarkan cadangan yang
dibuat dalam penemuan audit juruaudit dalaman, juruaudit
luar, pegawai pemeriksa BNM dan lain-lain.
•
Menjalankan audit ad-hoc dan penyiasatan ke atas kes-kes
khas.
•
Menjalankan kajian ke atas pelaksanaan sistem IT sebelum
ianya dilaksanakan.
•
Menyertai projek/aktiviti berkaitan dengan migrasi sistem
Syarikat.
•
Menjadi pemerhati
pemilihannya.
•
Menyelaras pelaksanaan semakan semula ke atas Had
kuasa dan Prosedur Operasi Piawai melalui fungsi
pematuhannya.
dalam
tender
dan
proses
Laporan daripada tugasan audit dikemukakan kepada pihak
Pengurusan untuk perhatian dan tindakan pembetulan
yang perlu seperti yang dicadangkan. Pihak Pengurusan
bertanggungjawab memastikan tindakan pembetulan terhadap
kelemahan yang dilapor dilaksanakan dalam jangka masa
yang ditetapkan. Jumlah kos yang terbabit bagi mengekalkan
fungsi Audit Dalaman yang dilakukan secara dalaman bagi
tahun kewangan yang dikaji adalah lebih kurang sebanyak
RM1.2 juta merangkumi sebahagian besarnya adalah gaji,
elaun perjalanan dan penginapan dan elaun sara hidup bagi
menjalankan tugasan audit.
Reports from the audit assignments are forwarded to the
Management for attention and necessary corrective actions as
recommended. The Management is responsible for ensuring
that corrective actions on reported weaknesses are taken within
the required time frame. The costs incurred in maintaining the
Internal Audit function which is performed in-house for the
financial year under review was approximately RM1.2 million
comprising mainly salaries, travelling and accommodation
expenses and subsistence allowance for audit assignments.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Lembaga Pengarah Syarikat Takaful Malaysia Berhad (“Takaful
Malaysia”) terus mematuhi dan menyokong sepenuhnya Kod
Urus Tadbir Korporat Malaysia (“Kod”) dan sentiasa komited
dalam memastikan supaya Prinsip-prinsip dan Amalan
Terbaik Urus Tadbir Korporat dipatuhi dan diamalkan oleh
keseluruhan Kumpulan bagi membolehkan urus selia hal-ehwal
Kumpulan dikendalikan secara profesional, bertanggungjawab
dan berwibawa dengan objektif untuk melindungi dan
mempertingkatkan nilai pelaburan pemegang saham dan
prestasi kewangan Kumpulan.
The Board of Directors (“the Board”) of Syarikat Takaful
Malaysia Berhad (“Takaful Malaysia”) continues to subscribe
and fully support the Malaysian Code of Corporate Governance
(“the Code”) and is committed to ensure that the Principles of
Corporate Governance and Best Practices are observed and
practised throughout the Group so that the affairs of the Group
are conducted with professionalism, accountability and integrity
with the objective of safeguarding and enhancing shareholders’
value and financial performance of the Group.
Lembaga Pengarah dengan ini berbesar hati melaporkan
pelaksanaan penggunaan Prinsip-prinsip Kod dan sejauh mana
Kumpulan telah mematuhi Kod Amalan Terbaik sebagaimana
yang ditetapkan menurut Keperluan Penyenaraian Pasaran
Utama Bursa Malaysia Securities Berhad (“Keperluan
Penyenaraian Bursa Malaysia”) sepanjang tahun kewangan
yang dikaji.
The Board is pleased to report on the application of the
Principles of the Code and the extent of compliance with the
Best Practices of the Code as required under the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad
(“Bursa Malaysia Listing Requirements”) during the financial
year under review.
PENGARAH
DIRECTORS
Lembaga Pengarah
Lembaga Pengarah bertanggungjawab terhadap keseluruhan
aspek urus tadbir korporat Kumpulan dan juga diamanahkan
dengan tanggungjawab dalam melaksanakan penjagaan yang
sewajarnya ke atas Syarikat serta sumber-sumber Kumpulan
bagi memelihara kepentingan para pemegang saham dan
memastikan pengurusan perniagaan yang sewajarnya.
The Board of Directors
The Board is responsible for the overall corporate governance
of the Group and is also entrusted with the responsibility of
exercising reasonable care of the Company as well as Group’s
resources in the best interests of its shareholders and in ensuring
the proper conduct of business.
Mesyuarat Lembaga Pengarah
Mesyuarat Lembaga Pengarah dijadualkan terlebih dahulu
pada permulaan tahun kalendar dengan mesyuarat tambahan
diadakan bila perlu. Sembilan (9) mesyuarat Lembaga Pengarah
telah diadakan pada tahun kewangan yang dikaji dengan
butiran kehadiran setiap Pengarah seperti berikut:
Board Meetings
Board meetings are scheduled in advance at the beginning
of a calendar year with additional meetings convened when
necessary. Nine (9) Board meetings were held during the
financial year under review with details of meetings’ attendance
of each Director as follows:
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil
(Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Director)
(Meletak jawatan pada 16 Julai 2009/Resigned on16 July 2009)
9/9
100
Y. Bhg. Dato’ Mohamed Hassan b. Md Kamil
(Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director)
9/9
100
Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
9/9
100
Puan Rozaida bt. Omar
(Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Director)
9/9
100
Encik Mahadzir b. Azizan (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
9/9
100
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Nama/Name
Kehadiran/
Attendance
Peratus (%)/
Percentage (%)
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof (Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Director)
9/9
100
Encik Johan b. Abdullah (Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Director)
(Dilantik pada 15 Ogos 2008/Appointed on 15 August 2008)
8/8
100
Semua Pengarah memiliki latar belakang pengalaman kerja
yang luas dalam pelbagai bidang, dan dengan ini membolehkan
mereka membuat pertimbangan yang sewajarnya dalam
melaksanakan tugas mereka.
Keseimbangan Lembaga Pengarah
Sepanjang tahun kewangan yang dikaji, Lembaga Pengarah
terdiri daripada:
All Directors have the backing of extensive work experience
in various fields and therefore able to exercise independent
judgement in order to discharge their duties.
Board Balance
During the financial year under review, the Board comprises
the following:
Nama/Name
Komposisi/
Composition
Peratus (%)/
Percentage (%)
Pengarah Eksekutif Bukan Bebas/Non-Independent Executive Director
1/7
14.2%
Pengarah Bukan Eksekutif Bukan Bebas/Non-Independent Non-Executive Directors
3/7
42.9%
Pengarah Bukan Eksekutif Bebas/Independent Non-Executive Directors
3/7
42.9%
* Komposisi di atas adalah sebelum peletakan jawatan oleh
Y. Bhg. Tan Sri Dr Hadenan b. A. Jalil pada 16 Julai 2009.
* The above composition is before the resignation of Y. Bhg. Tan
Sri Dr Hadenan b. A. Jalil on 16 July 2009.
Komposisi di atas mematuhi Keperluan Penyenaraian Bursa
Malaysia yang mewajibkan satu pertiga (1/3) daripada para
Pengarah Takaful Malaysia terdiri daripada Pengarah Bebas.
The above composition is in compliance with Bursa Malaysia
Listing Requirements which require that one third (1/3) of
Directors of Takaful Malaysia to be Independent Directors.
Lembaga Pengarah yang mempunyai pelbagai latar belakang
dan kepakaran khusus, secara kolektifnya membawa bersama
mereka pengalaman dan kepakaran yang luas dalam bidangbidang seperti kewangan, insurans, aktuari, perakaunan,
kesetiausahaan syarikat, perundangan, pengurusan dan
perbankan. Profil ahli Lembaga Pengarah ada dibentangkan di
mukasurat 16 hingga 21 dalam Laporan Tahunan ini. Terdapat
pembahagian yang jelas antara tanggungjawab Pengerusi dan
Pengarah Urusan Kumpulan bagi memastikan keseimbangan
kuasa dan autoriti.
The Board with their different backgrounds and specializations,
collectively bring with them a wide range of experience and
expertise in areas such as finance, insurance, actuary, accounting,
company secretarial, legal, management and banking. The
profiles of the Directors are provided on pages 16 to 21 of
the Annual Report. There is a clear division of responsibilities
between the Chairman and the Group Managing Director to
ensure that there is a balance of power and authority.
Peranan Pengerusi dan Pengarah Urusan Kumpulan ditakrif
dengan jelas di mana Pengerusi bertanggungjawab terhadap
pengendalian Lembaga Pengarah dan menerajui perbincangan
di peringkat Lembaga Pengarah sementara Pengarah Urusan
Kumpulan bertanggungjawab terhadap pengurusan Syarikat
dan Kumpulan serta pelaksanaan dasar dan keputusan yang
telah diputuskan oleh Lembaga Pengarah.
The roles of the Chairman and Group Managing Director are
clearly defined with the Chairman being responsible for running
the Board and lead the discussion at the Board level whilst the
Group Managing Director is responsible for managing the
Company and the Group as well as the implementation of the
Board’s policies and decisions.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Kod ada mengesyorkan pelantikan Pengarah Bukan Eksekutif
Bebas Kanan di mana sebarang kemusykilan boleh dirujuk
oleh ahli Lembaga Pengarah yang lain. Walau bagaimanapun,
memandangkan setiap ahli Lembaga Pengarah adalah
berkaliber tinggi dan peranan yang berbeza antara Pengerusi
dan Pengarah Urusan Kumpulan, buat masa ini Lembaga
Pengarah menganggap adalah tidak perlu untuk melantik
Pengarah Bukan Eksekutif Bebas Kanan yang khusus.
Jawatankuasa Lembaga Pengarah
Dalam memastikan Lembaga Pengarah melaksanakan tugas
mereka dengan lebih berkesan di samping meningkatkan
perniagaan dan kecekapan operasi, Lembaga Pengarah
mengagihkan tanggungjawab tertentu kepada empat (4)
Jawatankuasa Lembaga Pengarah, iaitu:
The Code recommends the appointment of a senior independent
non-executive Director to whom concerns may be conveyed
by other Board members. However, given the high caliber
and standing of the individual members of the Board and the
separation of the roles of the Chairman and Group Managing
Director, the Board currently does not consider it necessary
to nominate a designated senior independent non-executive
Director.
Board Committees
To enable the Board to discharge its duties effectively whilst
enhancing business and operational efficacy, the Board
delegates certain responsibilities to four (4) Board Committees,
namely:
• Jawatankuasa Audit
• Jawatankuasa Pemilihan
• Jawatankuasa Ganjaran; dan
• Jawatankuasa Pengurusan Risiko
• Audit Committee
• Nomination Committee
• Remuneration Committee; and
• Risk Management Committee
Setiap Jawatankuasa mempunyai terma rujukan bertulis
yang jelas dan Lembaga Pengarah menerima laporan bagi
setiap persidangan dan pertimbangan Jawatankuasa tersebut.
Pengerusi bagi setiap Jawatankuasa akan melaporkan kepada
Lembaga Pengarah setiap keputusan dari mesyuarat yang
dijalankan dan laporan tersebut akan dimasukkan ke dalam
minit Mesyuarat Lembaga Pengarah.
All Committees have clear written terms of reference and the
Board receives reports of their proceedings and deliberations.
The Chairman of the various Committees will report to the
Board the outcome of their meetings and such reports are
incorporated in the minutes of the Board Meeting.
Keahlian Jawatankuasa adalah bergantung kepada kemahiran
dan pengalaman seseorang Pengarah serta kebolehan mereka
memberi nilai tambah kepada Jawatankuasa.
Badan Penasihat Syariah
Badan Penasihat Syariah telah diberi kepercayaan oleh
Lembaga Pengarah bagi memastikan operasi dan produk yang
ditawarkan oleh Kumpulan adalah berlandaskan keperluan
Syariah. Kesemua perkara yang memerlukan pandangan dan
keputusan Badan Penasihat Syariah akan dibentangkan di
dalam mesyuarat Badan Penasihat Syariah di mana ianya juga
dihadiri oleh pihak Pengurusan dan wakil dari Jabatan Syariah.
Kemudian, perkara tersebut akan dibawa kepada Lembaga
Pengarah untuk memaklumkan keputusan yang telah dibuat.
Badan Penasihat Syariah terdiri daripada empat (4) orang ahli
di mana kesemuanya mempunyai pengalaman dan kepakaran
yang diperlukan di dalam bidang masing-masing. Y. Bhg.
Ustaz Mohd Bakir b. Haji Mansor merupakan Pengerusi
Badan Penasihat Syariah sekarang. Empat (4) mesyuarat Badan
Penasihat Syariah telah diadakan sepanjang tahun kewangan.
The Committees’ membership are based on Directors’ skills
and experience as well as their ability to add value to the
Committees.
Shariah Advisory Body
The Shariah Advisory Body is entrusted by the Board to
ensure that the Group’s operations and products offered are
in accordance with Shariah requirements. All matters which
require the Shariah Advisory Body’s opinion and decision
are deliberated at Shariah Advisory Body meetings with the
attendance of the Management and representatives from the
Shariah Department. Thereon, the said matters are brought to
the attention of the Board for an informed decision making.
The Shariah Advisory Body currently consists of four (4)
members, all of whom have the necessary experiences and
expertise in their respective fields. The current Chairman of
the Shariah Advisory Body is Y. Bhg. Ustaz Mohd Bakir b. Haji
Mansor. The Shariah Advisory Body meets four (4) times during
the financial year.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Sumber Maklumat kepada Lembaga Pengarah
Lembaga Pengarah mempunyai akses penuh dan secukupnya
kepada maklumat berkenaan kertas Lembaga Pengarah
yang diedarkan sebelum mesyuarat agar Pengarah boleh
mendapatkan penjelasan lanjut, apabila diperlukan bagi
mendapatkan penerangan yang sewajarnya sebelum mesyuarat.
Kertas Lembaga Pengarah merangkumi minit mesyuarat
Lembaga Pengarah yang lalu, minit mesyuarat semua
Jawatankuasa Lembaga Pengarah dan laporan yang berkaitan
isu-isu mesyuarat yang meliputi kewangan, pelaburan,
teknologi maklumat, operasi, sumber manusia dan perkara
berkaitan dengan pematuhan peraturan. Pengarah Urusan
Kumpulan akan memaklumkan kepada Lembaga Pengarah
tepat pada masanya, berhubung semua isu penting yang boleh
mempengaruhi prestasi Kumpulan dan pembangunan utama
yang berlaku dalam Kumpulan.
Semua ahli Lembaga Pengarah mempunyai akses yang tidak
terhad kepada maklumat yang tepat dan pada masa yang
ditetapkan serta khidmat nasihat Setiausaha Syarikat yang
bertanggungjawab untuk memastikan supaya prosedur
mesyuarat Lembaga Pengarah dituruti dan semua syarat serta
peraturan yang diterima pakai dipatuhi. Para Pengarah juga
boleh mendapatkan nasihat badan profesional bebas dalam
menjalankan tugas mereka, di bawah tanggungan Takaful
Malaysia.
Pelantikan sebagai ahli Lembaga Pengarah
Pelantikan ahli Lembaga Pengarah yang baru dipertimbang
dan dinilai oleh Jawatankuasa Pemilihan dan Jawatankuasa
tersebut akan mengesyorkan pelantikan tersebut kepada
Lembaga Pengarah untuk diluluskan. Selaras dengan Akta
Takaful, 1984 dan keperluan Bank Negara Malaysia (“BNM”),
pelantikan Pengarah adalah tertakluk kepada kelulusan BNM.
Setiausaha Syarikat akan memastikan supaya semua pelantikan
dilakukan dengan cara yang betul di mana semua maklumat
yang diperlukan diperoleh serta semua syarat perundangan dan
peraturan dipenuhi.
Jawatankuasa Pemilihan
Jawatankuasa Pemilihan kini terdiri daripada empat (4) Pengarah
Bukan Eksekutif dan seorang (1) Pengarah Eksekutif, di mana
dua (2) daripada mereka adalah Pengarah Bebas. Pengerusi
Jawatankuasa kini ialah Y.A.M. Tengku Azman Ibni Almarhum
Sultan Abu Bakar, seorang Pengarah Bukan Eksekutif Bebas.
Jawatankuasa Pemilihan telah bermesyuarat sebanyak empat
(4) kali sepanjang tahun kewangan ini.
Jawatankuasa Pemilihan telah diberikan mandat oleh Lembaga
Pengarah dan terma rujukannya untuk membentang kepada
Pengarah cadangan pemilihan ahli Lembaga Pengarah,
Pengarah Urusan Kumpulan/Ketua Pegawai Eksekutif dan
Pengurus Besar, dan sentiasa mengkaji syarat-syarat pelantikan
Pengarah, Pengarah Urusan Kumpulan/Ketua Pegawai Eksekutif
Supply of Information to the Board
The Board has full and timely access to information with
Board papers distributed in advance of meetings to enable
the Directors to obtain further explanation, where necessary,
in order to be properly briefed before the meetings. The
Board papers include the minutes of previous Board meeting,
minutes of meetings of all Committees of the Board and reports
relevant to the issues of the meetings covering areas such as
financial, investment, information technology, operational,
human resource and regulatory compliance matters. The Group
Managing Director keeps the Board informed, on timely basis,
of all material matters affecting the Group’s performance and
major developments within the Group.
All the Board members have unrestricted access to timely and
accurate information and access to the advice and services of
the Company Secretary, who is responsible for ensuring that
Board meeting’s procedures are followed and that all applicable
rules and regulations are complied with. The Directors can also
seek independent professional advice in furtherance of their
duties, at Takaful Malaysia’s expense.
Appointments to the Board
The appointment of new Board members are considered and
evaluated by the Nomination Committee and the Committee
would recommend the appointment to the Board for approval.
In line with Takaful Act, 1984 and the requirement of Bank
Negara Malaysia (“BNM”), the appointment of Directors is
subject to the approval from BNM. The Company Secretary
will ensure that all the appointments are properly made, all
necessary information are obtained, as well as all legal and
regulatory requirements are met.
Nomination Committee
The Nomination Committee currently consist of four (4) NonExecutive Directors and one (1) Executive Director, two (2) of
whom are Independent. The current Chairman of the Committee
is Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
an Independent Non-Executive Director. The Nomination
Committee met four (4) times during the financial year.
The Nomination Committee is empowered by the Board and its
terms of reference are to bring to the Board recommendations
as to the appointment of new Directors, Group Managing
Director/Chief Executive Officer and General Managers, and
keeps under review the terms of appointment of Directors,
Group Managing Director/Chief Executive Officer and General
Managers. The Nomination Committee is also empowered to
assess the effectiveness of the Board, its Committees and the
contribution of each individual Director. The Nomination
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
dan Pengurus Besar. Jawatankuasa Pemilihan juga diberi
mandat untuk menilai keberkesanan Lembaga Pengarah,
Jawatankuasanya dan sumbangan setiap Pengarah. Jawatankuasa
Pemilihan juga merangka pelan peralihan jawatan bagi
Pengurusan Kanan Takaful Malaysia. Penilaian keberkesanan
Lembaga Pengarah dan Jawatankuasanya iaitu Jawatankuasa
Pemilihan, Jawatankuasa Ganjaran, Jawatankuasa Audit dan
Jawatankuasa Pengurusan Risiko di samping sumbangan setiap
Pengarah telah dijalankan pada tahun ini.
Latihan Pengarah
Semua ahli Lembaga Pengarah telah menghadiri Program
Latihan Akreditasi Mandatori (“MAP”). Mereka akan terus
menghadiri lain-lain program latihan, kursus dan seminar yang
relevan untuk mempertingkatkan kemahiran dan pengetahuan
mereka dalam menjalankan tugas mereka sebagai Pengarah.
Sepanjang tahun ini, para Pengarah telah menghadiri pelbagai
kursus latihan termasuk latihan dalaman yang diatur oleh
BIMB Holdings Berhad yang berkaitan, antaranya, Standard
Laporan Kewangan (“FRS”), Panduan Urus Tadbir Korporat –
Menuju Kecemerlangan Lembaga Pengarah, Siri Pembangunan
Pengarah Bukan Eksekutif dan Program Kesedaran Pengurusan
Risiko (“ERM Awareness”). Takaful Malaysia juga terus
menyediakan Pekeliling BNM, Keperluan Penyenaraian Bursa
Malaysia yang dikemaskini dan peraturan-peraturan baru lain
untuk membantu para Pengarah dalam mendapatkan maklumat
mengenai perkembangan terkini.
Pemilihan Semula
Tataurusan Persatuan Syarikat memperuntukkan agar semua
Pengarah termasuk Pengarah Urusan Kumpulan/Ketua Pegawai
Eksekutif untuk menawarkan diri mereka bagi pemilihan semula
sekurang-kurangnya setiap tiga (3) tahun sekali selaras dengan
Keperluan Penyenaraian Bursa Malaysia.
Bagi membantu para pemegang saham membuat keputusan,
maklumat yang mencukupi seperti profil peribadi, kehadiran
mesyuarat dan pegangan saham dalam Syarikat bagi setiap
Pengarah yang bersedia untuk pemilihan semula disediakan
dalam Laporan Tahunan.
GANJARAN PENGARAH
Peringkat dan Kandungan Ganjaran
Jawatankuasa Ganjaran bertanggungjawab mengesyorkan
rangka kerja ganjaran bagi para Pengarah termasuk pakej
ganjaran bagi Pengarah Eksekutif dan Pengurus Besar kepada
Lembaga Pengarah bagi memastikan Takaful Malaysia mampu
menarik minat, memberi motivasi dan mengekalkan ahli
Lembaga Pengarah dan Pengurus Kanan yang diperlukan untuk
mentadbir dengan jayanya. Ganjaran para Pengarah adalah
sejajar dengan amalan keseluruhan Kumpulan mengenai
ganjaran dan imbuhan. Pengarah Eksekutif tidak terlibat dalam
apa juga cara dalam menentukan ganjarannya sendiri. Lembaga
Pengarah secara keseluruhannya menentukan ganjaran bagi
Pengarah Bukan Eksekutif.
Committee also discussed the succession plan of the Senior
Management of Takaful Malaysia. An assessment of the
effectiveness of the Board as a whole and its Committees i.e.
Nomination Committee, Remuneration Committee, Audit
Committee and Risk Management Committee as well as the
contribution of each individual director was carried out during
the year.
Directors’ Training
All Directors have attended the Mandatory Accreditation
Programme (“MAP”). The Directors will continue to attend
other relevant training programmes, courses and seminars to
enhance their skills and knowledge in discharging their duties
as Directors.
During the year, the Directors attended training courses including
in house training arranged by BIMB Holdings Berhad related
to, amongst others, Financial Reporting Standards, Corporate
Governance Guide – Towards Boardroom Excellence, NonExecutive Director Development Series and ERM Awareness
Program. Takaful Malaysia also continued to provide BNM’s
Circulars, updated Bursa Malaysia Listing Requirements and
new regulations to assist the Directors in keeping abreast with
the latest development.
Re-election
The Articles of Association provide for all Directors including
the Group Managing Director/Chief Executive Officer to submit
themselves for re-election at least every three (3) years in
compliance with Bursa Malaysia Listing Requirements.
To assist shareholders in their decision, sufficient information,
such as personal profile, meetings attendance and shareholding
in the Company of each director standing for re-election are
furnished in the Annual Report.
DIRECTORS’ REMUNERATION
Level and Make-up of Remuneration
The Remuneration Committee is responsible in recommending
the remuneration framework for the Directors as well as the
remuneration package of Executive Director and General
Managers to the Board so as to ensure that Takaful Malaysia
attracts, motivates and retains the Directors and Senior
Management needed to run it successfully. The remuneration
of Directors is in line with the Group’s overall practice on
compensation and benefits. The Executive Director does
not participate in any way in determining his individual
remuneration. The Board as a whole determines the
remuneration of Non-Executive Directors.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Yuran para Pengarah diluluskan oleh para pemegang saham di
Mesyuarat Agung Tahunan.
Directors’ fees are approved by the shareholders at the Annual
General Meeting.
Jawatankuasa Ganjaran
Jawatankuasa Ganjaran kini terdiri daripada tiga (3) orang
Pengarah Bukan Eksekutif, di mana kesemua mereka adalah
Pengarah Bebas, dan seorang (1) Pengarah Eksekutif. Pengerusi
Jawatankuasa kini ialah Y.A.M. Tengku Azman Ibni Almarhum
Sultan Abu Bakar, seorang Pengarah Bukan Eksekutif Bebas.
Jawatankuasa Ganjaran telah bermesyuarat sebanyak lima (5)
kali pada tahun kewangan ini.
Remuneration Committee
The Remuneration Committee currently consist of three (3)
Non-Executive Directors, all of whom are Independent and one
(1) Executive Director. The current Chairman of the Committee
is Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar,
an Independent Non-Executive Director. The Remuneration
Committee met five (5) times during the financial year.
Pendedahan
Ringkasan maklumat mengenai ganjaran para Pengarah bagi
tahun kewangan berakhir 30 Jun 2009 adalah seperti berikut:
Disclosure
The details of the remuneration for the Directors for the
financial year ended 30 June 2009 are as follows:
Yuran/Fees
Gaji dan lain-lain emolumen/
Salaries and other emoluments
Manfaat seumpamanya/
Benefits-in-kind
Jumlah/Total
Pengarah Eksekutif/
Executive Director
(RM’000)
Pengarah Bukan Eksekutif/
Non Executive Directors
(RM’000)
Jumlah/
Total
(RM’000)
0
350
350
2,140
0
2,140
61
32
93
2,201
382
2,583
Ganjaran Pengarah/
Directors’ Remuneration
Dibawah/Below than RM50,000
RM50,001 – RM100,000
RM100,001 – RM150,000
RM150,001 – RM200,000
Melebihi/More than RM200,001
Jumlah/Total
Jumlah Pengarah/
Number of Directors
Pengarah Eksekutif/
Pengarah Bukan Eksekutif/
Executive Director
Non Executive Directors
-
5
-
1
-
-
1
1
6
PEMEGANG SAHAM
SHAREHOLDERS
Dialog antara Syarikat dan para Pelabur
Takaful Malaysia sedar akan kepentingan untuk sentiasa
memaklumkan kepada para pemegang saham berkenaan
semua perkembangan utama Takaful Malaysia dari semasa
ke semasa. Pengerusi dan Pengarah Urusan Kumpulan
mengadakan perbincangan dengan pemegang saham
sekurang-kurangnya sekali (1) setahun semasa Mesyuarat
Agung Tahunan. Selain itu, pelbagai pendedahan dan
Dialogue between the Company and Investors
Takaful Malaysia recognizes the importance to keep the
shareholders well-informed of all major developments of
Takaful Malaysia on a timely basis. The Chairman and Group
Managing Director hold discussions with shareholders at
least once (1) a year during the Annual General Meeting.
Additionally, various disclosures and announcements made
to Bursa Malaysia including quarterly, semi-annual returns
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
pengumuman dibuat kepada Bursa Malaysia termasuk
keputusan suku tahunan, laporan setengah tahunan dan
keputusan tahunan bagi memudahkan menyebaran maklumat
kepada pemegang saham. Tambahan lagi, maklumatmaklumat lain mengenai Syarikat boleh diperolehi di laman
web Takaful Malaysia, iaitu www.takaful-malaysia.com.my.
Mesyuarat Agung Tahunan
Mesyuarat Agung Tahunan adalah forum utama bagi
dialog dengan pemegang saham. Selain dari agenda biasa
untuk Mesyuarat Agung Tahunan, Lembaga Pengarah akan
membentangkan laporan prestasi dan pencapaian perniagaan
seperti yang dinyatakan dalam Laporan Tahunan dan memberi
peluang kepada pemegang saham untuk mengemukakan
soalan mengenai aktiviti perniagaan Kumpulan.
Bagi pemilihan semula para Pengarah, Lembaga Pengarah akan
memastikan maklumat sepenuhnya dimaklumkan menerusi
notis mesyuarat berhubung para Pengarah yang akan bersara
dan mana-mana Pengarah yang menawarkan diri untuk
berkhidmat sekiranya dilantik semula.
Setiap perkara urusan khas yang terkandung dalam notis
mesyuarat akan disertakan dengan penyata penerangan bagi
resolusi yang dicadangkan untuk memudahkan pemahaman
sepenuhnya dan penilaian terhadap isu berkaitan.
AKAUNTABILITI DAN AUDIT
Laporan Kewangan
Lembaga Pengarah perlu memastikan yang penyata kewangan
tahunan dan pengumuman suku tahunan kepada pemegang
saham disediakan selaras dengan piawaian perakaunan yang
diluluskan dan membentangkan penilaian yang seimbang dan
boleh difahami mengenai kedudukan dan prospek Kumpulan.
Jawatankuasa Audit membantu Lembaga Pengarah memastikan
ketepatan dan kelengkapan maklumat dengan mengkaji
dan mencadangkan mengguna pakai maklumat bagi tujuan
pendedahan.
Penyata Tanggungjawab Para Pengarah Berkenaan Penyata
Kewangan
Menurut Akta Syarikat, 1965, Lembaga Pengarah perlu
menyediakan penyata kewangan bagi setiap tahun kewangan
yang memberi gambaran yang benar dan saksama mengenai
keadaan urusan hal-ehwal Syarikat dan Kumpulan sehingga
akhir tahun kewangan serta penyata hasil dan aliran tunai
Syarikat dan Kumpulan untuk tahun kewangan.
and annual results facilitate the dissemination of information
to the shareholders. In addition, other information about the
Company is available on Takaful Malaysia’s website, www.
takaful-malaysia.com.my.
The Annual General Meeting
The Annual General Meeting is the principal forum for
dialogues with shareholders. Besides the normal agenda for the
Annual General Meeting, the Board presents the progress and
performance of the business as contained in the Annual Report
and provides opportunities for shareholders to raise questions
pertaining to the business activities of the Group.
For re-election of Directors, the Board will ensure that full
information is disclosed through the notice of meeting
regarding directors who are retiring and who are willing to
serve if re-elected.
Each item of special business included in the notice of the
meeting will be accompanied by an explanatory statement
for the proposed resolution to facilitate full understanding and
evaluation of issues involved.
ACCOUNTABILITY AND AUDIT
Financial Reporting
The Board ensures that the annual financial statements and
quarterly announcements to shareholders are prepared in
accordance with approved accounting standards and present a
balance and understandable assessment of the Group’s position
and prospects. The Audit Committee assists the Board in
ensuring accuracy and adequacy of information by reviewing
and recommending for adoption information for disclosure.
Statement of Directors’ Responsibilities in Relation to Financial
Statements
The Directors are required under the Companies Act, 1965 to
prepare financial statements for each financial year which give
a true and fair view of the state of affairs of the Company and
the Group as at the end of the financial year and of the income
statement and cash flows for the Company and the Group for
the financial year.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Urus Tadbir Korporat
Corporate Governance Statement
Para Pengarah memberi pertimbangan bahawa, dalam
menyediakan penyata kewangan bagi tahun berakhir 30
Jun 2009, Kumpulan telah menggunakan dasar perakaunan
yang sesuai, digunakan secara konsisten dan disokong oleh
pertimbangan dan anggaran yang wajar dan berhemat.
Para Pengarah juga telah mempertimbangkan bahawa
kesemua piawaian perakaunan yang berkaitan dipatuhi dan
mengesahkan bahawa penyata kewangan disediakan mengikut
dasar perniagaan berterusan.
Para Pengarah bertanggungjawab memastikan supaya Syarikat
menyediakan rekod perakaunan yang secukupnya yang
menunjukkan ketepatan yang munasabah mengenai kedudukan
kewangan Syarikat bagi membolehkan mereka memastikan
agar penyata kewangan tersebut mematuhi keperluan Akta
Syarikat, 1965.
Para Pengarah mempunyai tanggungjawab secara am untuk
mengambil langkah yang munasabah dalam memastikan
perlindungan aset Syarikat dan Kumpulan terpelihara dan
mengelakkan serta mengesan sebarang bentuk penipuan dan
kesalahan undang-undang.
Kawalan Dalaman dan Pengurusan Risiko
Lembaga Pengarah mengiktiraf tanggungjawabnya dan komited
untuk mengekalkan pelaksanaan sistem kawalan dalaman
dan amalan pengurusan risiko yang berwibawa. Walau
bagaimanapun, sistem tersebut hanya dapat memberikan
jaminan berpatutan dan bukannya mutlak daripada sebarang
salah nyata atau kerugian ketara.
Penyata Kawalan Dalaman yang dibentangkan di muka
surat 49 hingga 52 dalam Laporan Tahunan ini memberikan
tinjauan menyeluruh mengenai kedudukan kawalan dalaman
Kumpulan.
Hubungan dengan Juruaudit
Peranan Jawatankuasa Audit dinyatakan di muka surat 27
hingga 35. Melalui Jawatankuasa Audit Lembaga Pengarah,
Syarikat telah mewujudkan hubungan yang telus dan sesuai
dengan juruaudit Syarikat, sama ada dalaman mahupun luar.
Jika perlu, juruaudit luar akan dijemput untuk menghadiri
mesyuarat Jawatankuasa.
Penyata ini dibuat selaras dengan resolusi Lembaga Pengarah
bertarikh 20 Ogos 2009.
The Directors consider that, in preparing the financial
statements for the year ended 30 June 2009, the Group has
used appropriate accounting policies, consistently applied
and supported by reasonable and prudent judgements and
estimates. The Directors have also considered that all applicable
accounting standards have been followed and confirm that the
financial statements have been prepared on the going concern
basis.
The Directors are responsible for ensuring that the Company
maintains adequate accounting records which disclose with
reasonable accuracy the financial position of the Company
to enable them to ensure that the financial statements comply
with the requirements of the Companies Act, 1965.
The Directors generally have the duty to take such steps as
are reasonably available to them to safeguard the assets of the
Company and the Group, and to prevent and detect fraud and
other irregularities.
Internal Control and Risk Management
The Board acknowledges its responsibility and is committed
in maintaining a sound system of internal control and risk
management practice. However, such system can only provide
reasonable but not absolute assurance against material
misstatements or losses.
The Statement on Internal Control furnished on pages 49 to
52 in the Annual Report provides an overview of the state of
internal control within the Group.
Relationships with the Auditors
The role of the Audit Committee is as stated on pages 27 to
35. Through the Audit Committee of the Board, the Company
has established transparent and appropriate relationship with
the Company’s auditors, both internal and external. If required,
the external auditors are invited to attend meetings of the
Committee.
This statement is made in accordance with the resolution of the
Board of Directors dated 20 August 2009.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Pematuhan Tambahan
Additional Compliance Information
1. UTILISATION OF PROCEEDS
1. PENGGUNAAN DANA
Terbitan bonus, terbitan hak dan pelaksanaan penempatan
persendirian masing-masing telah diselesaikan pada 16
September 2003, 27 Oktober 2003 dan 25 Mac 2005
sementara ESOS telah dilaksanakan pada 3 November 2003.
The bonus issue, rights issue and private placement
exercises were completed on 16 September 2003, 27
October 2003 and 25 March 2005 respectively whilst the
ESOS was implemented on 3 November 2003.
Dana daripada pelaksanaan penempatan persendirian yang
berjumlah RM10,878,000 telah digunakan sepenuhnya
untuk modal kerja dalam tahun kewangan berakhir 30 Jun
2005 sementara penggunaan dana terbitan hak pada 30
Jun 2009 adalah seperti berikut:
Total proceeds from the private placement exercise of
RM10,878,000 had been fully utilised for working capital during
the financial year ended 30 June 2005 whilst the utilisation of
rights issue proceeds as at 30 June 2009 are as follows:
Penggunaan Dana Terbitan Hak
Utilisation of Rights Issue Proceeds
Pelaburan
Menaiktaraf Modal
Tambahan
Sistem Teknologi
Kerja/
Dalam Maklumat/
Working
Syarikat
Upgrading
Capital
Subsidiari/
of IT Systems
Additional
Investment
in Subsidiaries
Pembiayaan
Perbelanjaan
Berkaitan Terbitan Bonus, Terbitan Hak,
Penempatan
Persendirian dan
Pelaksanaan ESOS/
Defray Expenses
Relating to Bonus
Issue, Rights Issue,
Private Placement and
ESOS Exercises
(RM’000)
(RM’000)
(RM’000)
Cadangan penggunaan dana terbitan hak/
Proposed utilisation of rights issue proceeds
30,531
30,000
14,969
Peruntukan semula dana terbitan hak/
Reallocation of rights issue proceeds
13,731*
602**
-
-
(13,731)*
-
Jumlah kecil/Sub-total
44,864
30,000
1,238
898
77,000
Tolak : Jumlah penggunaan setakat 30.06.2009/
Less : Amount utilised as at 30.06.2009
(44,864)
(30,000)
(1,238)
(898)
(77,000)
-
-
-
-
-
Baki dana terbitan hak/
Remaining rights issue proceeds
* Seperti yang diluluskan oleh Lembaga Pengarah pada
5 Januari 2004.
**Seperti yang diluluskan oleh Suruhanjaya Sekuriti pada
19 Disember 2008.
(RM’000)
Jumlah
Dana/
Total
Proceeds
1,500
-
(602)**
(RM’000)
77,000
-
* As approved by the Board of Directors on 5 January 2004.
**As approved by the Securities Commission on 19 December
2008.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Pematuhan Tambahan
Additional Compliance Information
2. PEMBELIAN BALIK SAHAM
2. SHARE BUYBACKS
Dalam tahun kewangan, tiada sebarang pembelian balik
saham dilakukan oleh Takaful Malaysia.
3. OPSYEN, WARAN ATAU SEKURITI BOLEH TUKAR
During the financial year, there were no share buybacks by
Takaful Malaysia.
3. OPTIONS, WARRANTS OR CONVERTIBLE SECURITIES
Tidak ada opsyen, waran atau sekuriti boleh tukar yang
diterbitkan oleh Takaful Malaysia sepanjang tahun kewangan.
No options, warrants or convertible securities were issued
by Takaful Malaysia during the financial year.
4. PROGRAM AMERICAN DEPOSITORY RECEIPT (ADR)
ATAU GLOBAL DEPOSITORY RECEIPT (GDR)
4. AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL
DEPOSITORY RECEIPT (GDR) PROGRAMME
Dalam tahun kewangan, Takaful Malaysia tidak menaja
sebarang program ADR atau GDR.
During the financial year, Takaful Malaysia did not sponsor
any ADR or GDR programme.
5. PENGENAAN SEKATAN / PENALTI
5. IMPOSITIONS OF SANCTIONS/ PENALTIES
Selain daripada yang dinyatakan di bawah, tiada sekatan
dan/atau penalti yang dikenakan ke atas Takaful Malaysia
dan subsidiari, para Pengarah atau Pengurusannya oleh
pihak berkuasa berkaitan sepanjang tahun kewangan :
•
Bursa Malaysia Securities Berhad melalui suratnya
yang bertarikh 26 Februari 2009 telah mengenakan
celaan awam kepada Takaful Malaysia kerana
telah melanggar perenggan 9.16(1)(a) dan 9.19(34)
Keperluan Penyenaraian.
Save as disclosed below, there were no sanctions and/or
penalties imposed on Takaful Malaysia and its subsidiaries,
Directors or Management by relevant regulatory bodies
during the financial year:
•
Bursa Malaysia Securities Berhad via its letter dated
26 February 2009 has publicly reprimanded Takaful
Malaysia for breaching of paragraphs 9.16 (1)(a) and
9.19(34) of the Listing Requirements.
6. NON-AUDIT FEES
6. YURAN BUKAN AUDIT
Yuran bukan audit yang dibayar kepada juruaudit luar pada
tahun kewangan berjumlah RM26,000.
7. VARIASI KEPUTUSAN
Tiada variasi ketara antara keputusan untuk tahun kewangan
dan keputusan tidak diaudit yang diumumkan sebelumnya.
Takaful Malaysia tidak mengeluarkan sebarang anggaran,
ramalan atau unjuran keuntungan bagi tahun kewangan.
8. JAMINAN KEUNTUNGAN
Dalam tahun kewangan, tiada jaminan keuntungan diberi
oleh Takaful Malaysia.
There were RM26,000 non-audit fees paid to external
auditors during the financial year.
7. VARIATION IN RESULTS
There is no significant variation between the results for
the financial year and the unaudited results previously
announced. Takaful Malaysia did not release any profit
estimate, forecast or projections for the financial year.
8. PROFIT GUARANTEE
During the financial year, there was no profit guarantee
given by Takaful Malaysia.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Pematuhan Tambahan
Additional Compliance Information
9. KONTRAK PENTING
9. MATERIAL CONTRACTS
Tidak ada kontrak penting lain, yang bukan merupakan
kontrak yang dimeterai dalam perjalanan biasa perniagaan,
yang telah dimeterai oleh Takaful Malaysia atau syarikat
subsidiarinya dalam tempoh dua (2) tahun sebelum tarikh
Laporan Tahunan melainkan seperti yang dinyatakan di
bawah:
There are no other material contracts, not being contract
entered into in the ordinary course of business, which have
been entered into by Takaful Malaysia or its subsidiary
companies within the last two (2) years preceding the date
of this Annual Report save as disclosed below:
i.
ii. Perjanjian jual beli bertarikh 27 Mac 2009 di antara
Takaful Malaysia dan Asian Finance Bank Berhad,
sebagai pembiaya kepada Export-Import Bank
Malaysia Berhad (EXIM), bagi penjualan tujuh bidang
tanah pegangan bebas bersama dengan satu unit
bangunan pejabat lapan belas tingkat yang dikenali
sebagai Darul Takaful, Jalan Sultan Ismail, Kuala
Lumpur kepada EXIM dengan harga tawaran sebanyak
RM63,000,000.
ii. Sale and purchase agreement dated 27 March 2009
between Takaful Malaysia and Asian Finance Bank
Berhad, as the financier for Export-Import Bank of
Malaysia Berhad (EXIM), for the disposal of seven
pieces of freehold land together with one unit of
eighteen storey office building known as Darul
Takaful, Jalan Sultan Ismail, Kuala Lumpur to EXIM for
a purchase consideration of RM63,000,000.
iii. Perjanjian usahasama bertarikh 18 Mei 2009 di antara
Takaful Malaysia, PT Syarikat Takaful Indonesia dan
Koperasi Karyawan Takaful yang menetapkan terma
dan syarat untuk mengurus pegangan saham masingmasing di dalam PT Asuransi Takaful Keluarga akibat
daripada struktur pegangan saham yang baru di PT
Asuransi Takaful Keluarga disebabkan oleh suntikan
modal daripada Takaful Malaysia ke dalam PT Asuransi
Takaful Keluarga yang berjumlah RM21,825,000 pada
5 Mei 2009.
iii. Joint venture agreement dated 18 May 2009 between
Takaful Malaysia, PT Syarikat Takaful Indonesia and
Koperasi Karyawan Takaful setting out the terms
and conditions that will govern their respective
shareholdings in PT Asuransi Takaful Keluarga arising
from the new shareholding structure of PT Asuransi
Takaful Keluarga as a result of the capital injection
by Takaful Malaysia into PT Asuransi Takaful Keluarga
amounting to RM21,825,000 on 5 May 2009.
i.
Perjanjian
perkhidmatan
pengurusan
operasi
infrastruktur IT bertarikh 1 Julai 2008 di antara Takaful
Malaysia dan Hewlett-Packard (M) Sdn Bhd untuk
menguruskan operasi infrastruktur IT Takaful Malaysia
bagi kontrak berjumlah RM11,840,142.
10. KONTRAK BERKAITAN DENGAN PINJAMAN
Tiada kontrak berkaitan dengan pinjaman oleh Takaful
Malaysia dalam tahun kewangan.
11. PENILAIAN SEMULA HARTANAH
Berikutan penggunaan FRS 140, Kumpulan telah
mengklasifikasikan beberapa hartanahnya kepada hartanah
pelaburan yang sebelum ini diklasifikasikan di bawah
hartanah, loji dan peralatan (“PPE”) di bawah model kos.
Hartanah pelaburan kini dinyatakan pada nilai saksama,
mewakili nilai pasaran terbuka berasaskan penilaian yang
dibuat oleh penilai bertauliah yang bebas. Keuntungan atau
kerugian yang timbul daripada perubahan nilai saksama
hartanah pelaburan diiktiraf dalam akaun untung dan rugi
bagi tempoh ia terhasil.
IT infrastructure operations management services
agreement dated 1 July 2008 between Takaful Malaysia
and Hewlett-Packard (M) Sdn Bhd to manage Takaful
Malaysia’s IT infrastructure operations for a total
contract sum of RM11,840,142.
10. CONTRACTS RELATING TO LOAN
There were no contracts relating to a loan by Takaful
Malaysia during the financial year.
11. REVALUATION OF LANDED PROPERTIES
With the adoption of FRS 140, the Group has classified
some of its properties to investment properties which were
previously classified under property, plant and equipment
(“PPE”) under the cost model. Investment properties are
now stated at fair value, representing open-market value
based on the valuation performed by independent qualified
valuers. Gains or losses arising from changes in fair values
of investment properties are recognised in the profit and
loss in the period in which they arise.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Pematuhan Tambahan
Additional Compliance Information
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk Urusniaga/
Pihak
Pihak Berkaitan, kepentingan mereka dan
Nature of Transactions
Berkaitan
bentuk hubungan dengan
yang
Kumpulan Takaful Malaysia/
berurusniaga/
Related Parties, their interests and
Related
nature of relationships with the
Parties
Takaful Malaysia Group
transacted
with
Pajakan mesin penyalin
Lease of copier machine
Syarikat Al-Ijarah Syarikat Al-Ijarah adalah subsidiari milik penuh BHB. BHB
adalah pemegang saham utama Takaful Malaysia yang
Sdn Bhd
(Syarikat Al-Ijarah) memegang kepentingan ekuiti Syarikat sebanyak 65.22 %
pada 30 Jun 2009.
Encik Johan b. Abdullah adalah Pengarah BIMB dan BHB
dan juga Pengarah Takaful Malaysia, yang dilantik oleh
BHB. Encik Johan b. Abdullah tidak mempunyai sebarang
kepentingan langsung atau tidak langsung dalam BHB dan
Takaful Malaysia.
Tan Sri Dr. Hadenan b. A. Jalil, Dato’ Mohamed Hassan b. Md.
Kamil dan Puan Rozaida bt. Omar adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Tan Sri Dr. Hadenan b. A.
Jalil, Dato’ Mohamed Hassan b. Md. Kamil dan Puan Rozaida
bt. Omar tidak mempunyai sebarang kepentingan langsung
atau tidak langsung dalam BHB dan Takaful Malaysia.
Syarikat Al-Ijarah is a wholly owned subsidiary of BHB. BHB
is a major shareholder of Takaful Malaysia holding an equity
interest of 65.22 % in the Company as at 30 June 2009.
Encik Johan b. Abdullah is a Director in BIMB and BHB and is
also a Director in Takaful Malaysia, nominated by BHB. Encik
Johan b. Abdullah does not have any direct or indirect interest
in BHB and Takaful Malaysia.
Tan Sri Dr. Hadenan b. A. Jalil, Dato’ Mohamed Hassan b. Md.
Kamil and Puan Rozaida bt. Omar are Directors in Takaful
Malaysia, nominated by BHB. Tan Sri Dr. Hadenan b. A. Jalil,
Dato’ Mohamed Hassan b. Md. Kamil and Puan Rozaida bt.
Omar do not have any direct or indirect interest in BHB and
Takaful Malaysia.
Nilai
Urusniaga
Sebenar dari
1 Julai 2008
hingga 30
Jun 2009/
Actual
Transaction
Value from
1 July 2008 to
30 June 2009
(RM’000)
394
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Pematuhan Tambahan
Additional Compliance Information
12. URUSNIAGA PIHAK BERKAITAN YANG BERULANG / RECURRENT RELATED PARTY TRANSACTIONS
Bentuk Urusniaga/
Pihak
Pihak Berkaitan, kepentingan mereka dan
Nature of Transactions
Berkaitan
bentuk hubungan dengan
yang
Kumpulan Takaful Malaysia/
berurusniaga/
Related Parties, their interests and
Related
nature of relationships with the
Parties
Takaful Malaysia Group
transacted
with
Sewa bangunan pejabat
yang dibayar kepada Takaful
Malaysia oleh Bank Islam
Malaysia Berhad (BIMB)
Rental of office premises
payable to Takaful Malaysia
by Bank Islam Malaysia
Berhad (BIMB)
BIMB
BIMB adalah subsidiari 51% milik BHB. BHB adalah pemegang
saham utama Takaful Malaysia yang memegang kepentingan
ekuiti sebanyak 65.22 % dalam Syarikat pada 30 Jun 2009.
Encik Johan b. Abdullah adalah Pengarah BIMB dan BHB
dan juga Pengarah Takaful Malaysia, yang dilantik oleh
BHB. Encik Johan b. Abdullah tidak mempunyai sebarang
kepentingan langsung atau tidak langsung dalam BHB dan
Takaful Malaysia.
Tan Sri Dr. Hadenan b. A. Jalil, Dato’ Mohamed Hassan b. Md.
Kamil dan Puan Rozaida bt. Omar adalah Pengarah Takaful
Malaysia, yang dilantik oleh BHB. Tan Sri Dr. Hadenan b. A.
Jalil, Dato’ Mohamed Hassan b. Md. Kamil dan Puan Rozaida
bt. Omar tidak mempunyai sebarang kepentingan langsung
atau tidak langsung dalam BHB dan Takaful Malaysia.
BIMB is a 51% owned subsidiary of BHB. BHB is a major
shareholder of Takaful Malaysia holding an equity interest of
65.22 % in the Company as at 30 June 2009.
Encik Johan b. Abdullah is a Director in BIMB and BHB and is
also a Director in Takaful Malaysia, nominated by BHB. Encik
Johan b. Abdullah does not have any direct or indirect interest
in BHB and Takaful Malaysia.
Tan Sri Dr. Hadenan b. A. Jalil, Dato’ Mohamed Hassan b. Md.
Kamil and Puan Rozaida bt. Omar are Directors of Takaful
Malaysia, nominated by BHB. Tan Sri Dr. Hadenan b. A. Jalil,
Dato’ Mohamed Hassan b. Md. Kamil and Puan Rozaida bt.
Omar do not have any direct or indirect interest in BHB and
Takaful Malaysia.
Nilai
Urusniaga
Sebenar dari
1 Julai 2008
hingga 30
Jun 2009/
Actual
Transaction
Value from
1 July 2008 to
30 June 2009
(RM’000)
7,368
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Kawalan Dalaman
Statement on Internal Control
Penyata ini disediakan menurut Keperluan Penyenaraian
Pasaran Utama Bursa Malaysia Securities Berhad berkaitan
dengan Pematuhan Kumpulan terhadap Prinsip dan peruntukanperuntukan Amalan Terbaik yang berkaitan dengan kawalan
dalaman seperti yang digariskan di dalam Kod Urus Tadbir
Korporat Malaysia (“Kod”).
This statement is made pursuant to the Main Market Listing
Requirements of Bursa Malaysia Securities Berhad with
regard to the Group’s compliance with the Principles and Best
Practices provisions relating to internal controls as stipulated in
the Malaysian Code on Corporate Governance (“the Code”).
Board Responsibility
Tangungjawab Lembaga Pengarah
Lembaga
Pengarah
mengiktiraf
bahawa
mereka
bertanggungjawab sepenuhnya terhadap persekitaran kawalan
dalaman dan keberkesanannya dalam menjaga kepentingankepentingan pemegang-pemegang saham dan aset-aset
Kumpulan.
Sistem kawalan dalaman turut memenuhi keperluan untuk
operasi perniagaan yang berkesan dan cekap, laporan
kewangan yang baik dan prosedur-prosedur kawalan, serta
pematuhan terhadap undang-undang dan peraturan-peraturan
yang berkaitan. Lembaga Pengarah turut mengakui bahawa
penyemakan terhadap sistem kawalan dalaman Kumpulan
adalah usaha yang berterusan, dimana sistem dirumus untuk
mengurus dan bukannya menghapuskan risiko kegagalan untuk
mencapai objektif-objektif perniagaan. Sewajarnya, sistem
kawalan dalaman Kumpulan turut memberikan jaminan yang
munasabah keatas salah nyata atau kerugian yang ketara.
Proses-Proses Kawalan Dalaman Utama
The Board acknowledges its overall responsibility for the internal
control environment and its effectiveness in safeguarding
shareholders’ interests and Group’s assets.
The system of internal control addresses the need for an effective
and efficient business operations, sound financial reporting
and control procedures, and compliance with relevant laws
and regulations. The Board also recognises that reviewing the
Group’s system of internal control is a continuing process where
the system is designed to manage rather than to eliminate the
risk of failure in achieving business objectives. Accordingly,
the Group’s system of internal control provides reasonable
assurance against material misstatement or loss.
Key Internal Control Processes
The key internal control processes that the Board has established
in reviewing the adequacy and integrity of the system of
internal control, including compliance with applicable laws,
regulations, rules, directives and guidelines, are as follows:
Proses-proses kawalan dalaman utama yang telah ditubuhkan
oleh Lembaga Pengarah dalam menyemak kecukupan serta
kewibawaan sistem kawalan dalaman termasuk pematuhan
kepada undang-undang, peraturan-peraturan, syarat-syarat,
arahan-arahan dan garis panduan-garis panduan adalah seperti
berikut :
Risk Management Framework
Rangka Kerja Pengurusan Risiko
In pursuing these objectives, the Board has put in place an
Enterprise Wide Risk Management (“ERM”) framework within
the Group to ensure there is an on-going process of identifying,
evaluating, monitoring and managing the significant risk
exposures inherent in its business operations. The Group has
established a structured risk management process. The roles
and responsibility of Risk Management Committee of the Board
(“RISCO”) and Management Risk Committee (“MRC”) are
clearly spelt out.
Lembaga Pengarah mengakui bahawa mengenalpasti dan
mengurus risiko utama memainkan peranan penting dan
merupakan asas dalam mencapai objektif-objektif perniagaan
Kumpulan serta dalam menguruskan operasi hariannya.
Bagi mencapai objektif-objektif tersebut, Lembaga Pengarah
telah menyediakan rangka kerja Pengurusan Risiko Seluruh
Perniagaan (“ERM”) dalam Kumpulan bagi memastikan supaya
wujud proses yang berterusan bagi mengenalpasti, menilai,
memantau dan mengurus pendedahan risiko utama yang
sememangnya lazim dalam operasi perniagaannya. Kumpulan
telah menubuhkan struktur proses pengurusan risiko. Peranan
The Board acknowledges the identification and the management
of principal risks play an important and integral part in achieving
the Group’s business objectives and the management of its daily
operations.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Kawalan Dalaman
Statement on Internal Control
serta tanggungjawab Lembaga Jawatankuasa Pengurusan Risiko
dan Jawatankuasa Pengurusan Risiko adalah dinyatakan secara
jelas.
Risiko peringkat korporat yang telah dikenalpasti dalam
rangka kerja ERM termasuklah risiko insuran, risiko kewangan
dan risiko operasi adalah dikaji oleh RISCO dan MRC pada
setiap suku tahun. Menyedari bahawa Pengurusan Penerusan
Perniagaan (“BCM”) adalah komponen penting dalam rangka
kerja pengurusan risiko secara keseluruhan, Syarikat telah
menjalankan dua ujian pemulihan bencana dan ujian simulasi
krisis berskala penuh yang melibatkan pergerakan operasi dari
Dataran Kewangan Darul Takaful ke tapak pemulihan terpilih.
Fungsi Audit Dalaman
Fungsi audit dalaman membantu Lembaga Pengarah dan
Jawatankuasa Audit untuk melaksanakan tanggungjawab audit
yang telah dirancang dan juga audit khas. Fungsi audit dalaman
menggunapakai pendekatan berasaskan risiko dalam kajiannya
terhadap kawalan dalaman Kumpulan. Ia melapor kepada
Jawatankuasa Audit berhubung tahap pematuhan terhadap
keperluan penguatkuasaan dan syor-syor bagi peningkatan
turut dikemukakan berkaitan penemuan yang timbul daripada
kajian tersebut. Perlaksanaan pelan tindakan pengurusan yang
berupaya untuk mengurangkan kelemahan tersebut dipantau
melalui audit susulan.
Jawatankuasa Audit turut membincangkan penemuan dan syorsyor yang dicadangkan oleh juruaudit dalaman dan luar serta
fungsi pematuhan. Jawatankuasa tersebut turut mengawasi
sumber dan skop kerja audit dalaman melalui pelan audit
tahunannya.
Unsur-Unsur Kawalan Dalaman Utama
Unsur-unsur utama kawalan dalaman yang diwujudkan oleh
Lembaga Pengarah bagi menyediakan kawalan dalaman yang
berkesan termasuk pematuhan terhadap undang-undang,
peraturan dan garis panduan adalah seperti berikut:
•
Struktur Organisasi
Kumpulan telah membentuk sebuah struktur organisasi
yang tersusun dengan had-had tanggungjawab dan
akauntabiliti yang jelas serta pengagihan kuasa yang
bertakrif kepada Jawatankuasa-jawatankuasa Lembaga
Pengarah dan Pengurusan.
The corporate level risks identified in ERM framework including
insurance risk, financial risk and operational risk are reviewed
by the RISCO and MRC on quarterly basis. Given that Business
Continuity Management (“BCM”) is a key component of
the overall risk management framework, the Company has
conducted two IT disaster recovery testing and a full scale
crisis simulation exercise which involved the mobilization of
operation from Dataran Kewangan Darul Takaful to designated
recovery sites.
Internal Audit Function
The internal audit function assists the Board and Audit
Committee in the effective discharge of their responsibilities
by conducting scheduled and special audits. The internal audit
function adopts a risk-based approach in its audit of the Group’s
internal controls. It reports to the Audit Committee on the
extent of compliance with the relevant regulatory requirements
and recommendations for improvement are also provided
on the findings arising from the audit. The implementation of
management action plans which seek to mitigate the weaknesses
are monitored through follow up reviews.
The Audit Committee deliberates on findings and
recommendations proposed by the internal and external
auditors as well as the compliance function. The Committee
also provides oversight on the internal audit’s resources and
scope of work via its annual audit plan.
Key Elements of Internal Control
The key elements of internal control that the Board has
established which provide effective internal controls including
compliance with applicable laws, regulations and guidelines
are as follows:
•
Organisational Structure
The Group has established a well-defined organisational
structure with clear lines of responsibility and accountability
with a defined delegation of authority of Committees of the
Board and Management.
•
Performance Monitoring and Reporting
The Group’s management team monitors and reviews
financial and operational results based on the Key
Performance Indicators (“KPI”) or Key Result Areas (“KRA”)
that is established prior to each new financial year. As for
the subsidiary companies, the Group has representation
of at least one (1) member of the Board of respective
companies.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Kawalan Dalaman
Statement on Internal Control
•
•
Pemantauan dan Laporan Prestasi
Pasukan Pengurusan Kumpulan memantau dan mengkaji
keputusan kewangan dan operasi berdasarkan kepada
Petunjuk Prestasi Penting (“KPI”) atau Bidang Keputusan
Pentingan (“KRA”) yang dirumus sebelum setiap tahun
kewangan baru. Bagi syarikat-syarikat subsidiari pula,
Kumpulan mempunyai sekurang-kurangnya seorang (1)
wakil dalam Lembaga Pengarah di setiap syarikat tersebut.
Had Kuasa
Had kuasa yang ditakrif dengan jelas telah diluluskan oleh
Lembaga Pengarah dan telah dilaksanakan dalam bidang
Menaja Jamin, kelulusan Tuntutan, Pelaburan dan proses
perniagaan yang lain.
•
Prosedur Operasi Piawai
Manual Operasi Cawangan telah dilancarkan serta
diterimapakai oleh Lembaga Pengarah. Ia digunakan
sebagai garis panduan terhadap aktiviti-aktiviti harian
perniagaan. Kumpulan kini sedang menumpu untuk
menyiapkan semakan terhadap Prosedur Operasi Piawai
yang akan mengawal seluruh proses perniagaan dalam
organisasi.
•
Rangkakerja Pembangunan Produk Baru
Rangkakerja Pembangunan Produk Baru telah disediakan
dalam bulan Jun 2009 untuk memastikan pembangunan
produk baru tersebut mematuhi kehendak penguatkuasaan.
Proses berstruktur telah pun dilancarkan untuk mengurus
produk-produk yang ditawarkan untuk kali pertama atau
kombinasi pelbagai produk-produk yang sedia ada yang
mempunyai perubahan yang material terhadap profil
risiko.
•
Garis panduan Pelaburan
Polisi-polisi dan prosedur-prosedur untuk meningkatkan
kawalan dalaman untuk pengurusan pelaburan telahpun
dilancarkan untuk menangani dan mematuhi Garis
panduan Pengurusan Pelaburan untuk Pengendali Takaful
(“Garis panduan”) yang dikeluarkan oleh Bank Negara
Malaysia (BNM). Jurang-jurang yang telah dikenalpasti
pada tahun semasa akan ditangani dalam masa yang
terdekat untuk mematuhi sepenuhnya Garis panduan
tersebut. Garis panduan tersebut mengawal pengurusan
pelaburan dana takaful, meliputi polisi-polisi pelaburan
dan pengurusan risiko, memantau dan mengawal, perananperanan Lembaga Pengarah dan pengurusan atasan, fungsi
pemantauan pelaburan dan aktiviti-aktiviti pelaburan yang
diberikan kepada sumber luar.
•
Limit of Authorities
A clearly defined limit of authorities has been approved by
the Board and implemented in the areas of Underwriting,
Claims approval, Investments and other business process.
•
Standard Operating Procedures
The Branch Operating Manual has been established and
acknowledged by the Board. It is used as guidelines for
the day-to-day business activities. The Group is now
focusing on completing the revision of Standard Operating
Procedures that will govern the whole business processes
within the organisation.
•
New Product Development Framework
New Product Development Framework has been established
in June 2009 to ensure that new product development is
in compliance with regulatory requirements. A structured
process has been formalised to manage products that are
offered for the first time or a combination of variation to
existing products which have material change in the risk
profile.
•
Investment Guidelines
The necessary policies and procedures to enhance the
internal controls of the investment management are in place
to address and comply with the Guidelines on Investment
Management for Takaful Operators (“Guidelines”) issued by
Bank Negara Malaysia. The gaps that have been identified
in current financial year shall be addressed in due course
to achieve full compliance with the said Guidelines. The
Guidelines governs the investment management of takaful
fund encompassing the investment and risk management
policies, monitoring and control, roles of board of directors
and senior management, investment oversight function and
outsourcing of investment activities.
•
Compliance Function
The Compliance Manager monitors issuance of regulatory
requirements and directives. All new requirements
guidelines are communicated to all Senior Management
team, Audit Committee and the Board.
•
Business / Marketing Plan and Budget process
The Group’s annual business/marketing plan and budget
are submitted to the Board for approval.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Kawalan Dalaman
Statement on Internal Control
•
Fungsi Pematuhan
Pengurus Pematuhan memantau kehendak penguatkuasa
dan arahan-arahan yang dikeluarkan oleh pihak berkuasa.
Semua keperluan/garis panduan baru disampaikan kepada
setiap pasukan Pengurusan Kanan, Jawatankuasa Audit dan
Lembaga Pengarah.
•
Pelan Perniagaan / Pemasaran dan proses Belanjawan
Pelan perniagaan dan pemasaran tahunan Kumpulan
dibentangkan kepada Lembaga Pengarah untuk kelulusan.
•
Laporan Kewangan
Akaun pengurusan/laporan dibentangkan kepada Lembaga
Pengarah untuk dikaji dan dibincangkan. Penyebaran
laporan suku tahunan kepada orang ramai dilakukan
selepas ia dikaji oleh Jawatankuasa Audit dan diluluskan
oleh Lembaga Pengarah. Usaha berterusan turut dijalankan
untuk menangani isu-isu kawalan kewangan atau risikorisiko termasuk pengukuhan terhadap proses penutupan
kewangan dan pelarasan.
•
Sistem Teknologi Maklumat
STMB telah pun melancarkan manual Polisi Keselamatan
Sistem Maklumat (ISSP) selaras dengan usaha untuk
memastikan keberkesanan sistem kawalan dalaman dan
kebolehsandaran terhadap pengurusan sistem maklumat.
Manual ISSP menerangkan cara-cara untuk mencegah dan
bertindak terhadap pelbagai ancaman termasuk akses tidak
dibenarkan, akses yang dihalang, pendedahan, duplikasi,
kesalahan yang tidak disengajakan, pengubahsuaian,
pengalihan, kehilangan, kemusnahan, salahguna atau
kecurian terhadap sistem maklumat STMB.
Kesimpulan
Walaupun terdapat kelemahan kawalan yang dikenal pasti
dalam proses-proses perniagaan tertentu dalam Kumpulan,
namun tiada sebarang kegagalan kawalan atau kelemahan
ketara yang menyebabkan kerugian besar yang memerlukan
pendedahan dalam laporan tahunan Kumpulan bagi tahun
kewangan yang dikaji.
Penyata ini disediakan selaras dengan resolusi Lembaga
Pengarah bertarikh 16 September 2009.
•
Financial Reporting
Management accounts/reports are tabled to the Board
for review and discussion. The public release of quarterly
reports is made after reviewed by the Audit Committee
and approved by the Board. On-going efforts are in place
to address financial control issues or risks, which include
strengthening the financial closing and reconciliation
process.
•
Information Technology System
STMB had rolled out the Information System Security
Policy (ISSP) Manual in tandem with its efforts to ensure the
effectiveness of internal control systems and the reliability
of the management information systems. The ISSP Manual
describes ways to prevent and respond to a variety of
threats including unauthorised access, denial of access,
disclosure, duplication, inadvertent error, modification,
diversion, destruction, loss, misuse or theft of STMB
information systems.
Conclusion
Despite control weaknesses identified at certain business
processes within the Group, there was no significant control
failure or weakness that has resulted in material loss that
requires disclosure in the Group’s annual report for the financial
year under review.
This statement is made in accordance with the Board of
Directors resolution dated 16 September 2009.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
We Tailor To Your Needs
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
dengan nama allah yang maha pemurah dan maha penyayang, Assalamualaikum
Warahmatullahi Wabarakatuh.
Saya dengan sukacitanya membawakan kepada anda Laporan Tahunan dan Penyata Kewangan Beraudit ke-24 bagi
tahun kewangan berakhir 30 Jun 2009.
In the Name of Allah, the Most Compassionate, the Most Merciful, Assalamualaikum
Warahmatullahi Wabarakatuh.
It is a great honour to bring you the 24th Annual Report and Audited Financial Statements for the financial year ended
30 June 2009.
Para Pemegang Saham,
Dear Shareholders,
Sesungguhnya ini merupakan satu penghormatan yang besar
kerana kita akan meraikan ulang tahun ke-25 Takaful Malaysia
pada November 2009. Ini merupakan satu pencapaian yang
membanggakan bagi sebuah syarikat kewangan pelopor negara
ini. Takaful Malaysia telah menjadi salah sebuah syarikat yang
pertama sekali menyahut cabaran mengembangkan sektor
kewangan Islam. Hari ini kita bangga menjadi sebuah syarikat
Malaysia yang juga merupakan salah sebuah pengendali Takaful
terbesar di dunia.
In fact, this is an exceptional honour indeed, as we mark the
25th anniversary of Takaful Malaysia in November 2009. This is
a major milestone for a true Malaysian pioneer. Takaful Malaysia
was one of the first companies to take up the challenge of
propagating Islamic finance. Today, we stand tall as a Malaysian
company and one of the largest Takaful operators in the world.
Saya ingin menekankan bahawa kejayaan dan pertumbuhan
pesat syarikat ini merupakan sumbangan daripada usaha gigih
dan dedikasi para staf yang terdahulu dan yang sedia ada. Objektif
kita ialah untuk terus mengembangkan syarikat ini secara agresif
dalam memenuhi komitmen untuk mempromosikan Malaysia
sebagai sebuah hab utama kewangan Islam.
I cannot emphasise too strongly the fact that the growth and
success of the company are attributed to the hard work and
dedication of the staff, both past and present. It remains our
team objective to keep growing the company aggressively as
we fulfill our commitment to promoting Malaysia as a central
hub in Islamic finance.
Walaupun kita telah wujud selama 25 tahun, namun persepsinya
ialah hanya baru lima tahun yang lepas Takaful telah mencapai
kemajuan dari segi konsep, amalan dan prinsip. Dalam tempoh
ini, kita telah melihat pelbagai penumpuan pendapat dan
aplikasi yang telah membantu industri mewujudkan teras untuk
Takaful supaya lebih diterima di seluruh dunia. Persepsi yang
menerima kewangan Islam hanya untuk orang Islam sahaja
sudah berkurangan. Di peringkat serantau, kita melihat lebih
banyak penyertaan orang awam dalam bidang pengumpulan
dana dan penawaran pelaburan alternatif yang menggunakan
instrumen Kewangan Islam.
Although we have been in existence for 25 years, it must be
noted that in terms of perception, only in the last five years
has Takaful made significant advances in terms of concept,
practices and principles. During this period, we have seen a
great deal of convergence in opinions and applications that
have helped the industry establish the pillars that have made
Takaful more acceptable across the world. The perception that
Islamic finance is only for Muslims is diminishing. Regionally,
we are seeing increasing participation in the areas of raising
capital and offering investment alternatives for the public using
Islamic Finance instruments.
Semakin kita melangkah ke hadapan dan merancang untuk
25 tahun yang akan datang serta memandangkan Takaful kini
semakin diterima oleh orang ramai, kita perlu menyemak
kembali identiti jenama kita dengan matlamat untuk
memperbaiki kedudukan Takaful Malaysia bagi menghadapi
era baru yang penuh dengan persaingan dan kehendak
pelanggan yang lebih sofistikated. Banyak syarikat kewangan
As we look to the future and plan for the next 25 years in
light of this growing acceptance of Takaful, we believe that it
is timely that we examine our brand identity with the aim of
repositioning Takaful Malaysia for a new, more competitive era
and a new, more sophisticated audience. Over the last four or
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
Islam baru yang muncul dalam empat atau lima tahun yang
lalu dan kini sudah terdapat lapan buah pengendali Takaful di
Malaysia. Selain daripada strategi baru yang akan dibincangkan
kemudian, adalah amat penting untuk syarikat membezakan
dirinya dengan menunjukkan penampilan dan sikap yang lebih
dinamik agar organisasi tersebut sentiasa berada di hadapan.
five years, many new players have entered the Islamic finance
arena and there are now eight Takaful operators in Malaysia.
Apart from other strategies which will be discussed later, in order
to stay ahead, it is vital that the company differentiate itself by
projecting a more dynamic look and feel to the organization.
Ketika ini, kita sedang membuat persiapan untuk melancarkan
identiti jenama baru bersempena dengan sambutan ulang
tahun ke-25 Takaful Malaysia pada bulan November ini. Kita
yakin bahawa pelaksanaan ini akan mengukuhkan lagi jenama
Takaful Malaysia dan meningkatkan profil kita sebagai Takaful
Malaysia yang lebih cergas, moden dan bertenaga di mata
masyarakat. Selaras dengan prinsip yang mendukung wawasan
1Malaysia, identiti jenama baru kita akan membawa mesej
bahawa Takaful adalah untuk seluruh warga Malaysia tanpa
mengira keturunan mahupun agama.
To this end, we are preparing to launch a new brand identity
in conjunction with Takaful Malaysia’s 25th anniversary
celebrations in November. We are confident that this exercise
will re-energise the Takaful Malaysia brand and raise our profile;
bringing a young, modern and energetic Takaful Malaysia to
public attention. In line with the principles underpinning the
1Malaysia vision, our new brand identity will communicate the
message that Takaful is for all Malaysians regardless of creed
or colour.
TINJAUAN PRESTASI TAHUN INI
THE YEAR IN REVIEW
Kejatuhan ekonomi global telah menyebabkan negara ekonomi
maju mengalami kejatuhan KDNK sebenar sebanyak 7.5%
dalam suku keempat sepanjang tempoh bermula dari bulan
September hingga ke Disember 2008. Menjelang akhir tahun
2008, kemerosotan ini telah memberi kesan kepada ekonomi
Asia melalui saluran kewangan dan perdagangan, terutama
sekali negara-negara yang hanya bergantung kepada eksport
barangan pembuatan. Pada masa yang sama akibat dari aktiviti
global yang samakin perlahan, harga komoditi telah jatuh
menjunam dari paras tertinggi pada pertengahan tahun.
The period from September to December 2008, saw the
collapse of the global economy, which resulted in the advanced
economies experiencing an unprecedented 7.5% decline
in real GDP during the fourth quarter. By end of 2008, the
contagion had affected the Asian economies via financial and
trade channels, in particular countries that relied heavily on
manufacturing exports. At the same time, as global activity
subsided, commodity prices fell sharply from mid-year highs.
Dalam persekitaran ekonomi ini dan oleh kerana hampir
7% aset kumpulan berada dalam pasaran ekuiti, kedudukan
kewangan kita telah terjejas di antara suku tahun berakhir
Disember 2008 dan Mac 2009. Keadaan ini bertambah
rumit disebabkan krisis kewangan yang turut memberi kesan
kepada perniagaan runcit dan korporat kerana para pelanggan
telah mengurangkan perbelanjaan mereka. Penangguhan
pelaksanaan projek-projek prasarana besar turut menyumbang
kepada penurunan pertumbuhan premium.
In this economic scenario and with almost 7% of the group’s
assets in the equity market, our financial position was
significantly affected between the quarter ending December
2008 and March 2009. The situation was compounded by
the fact that the financial crisis also affected the retail and
corporate business as customers made significant cutbacks
in expenditure. Delays in implementing large infrastructure
projects also contributed to a decline in premium growth.
Walau bagaimanapun, dalam bulan April hingga Jun 2009,
ekonomi Malaysia telah mengalami peningkatan yang dramatik.
Persekitaran ekonomi tempatan telah mendapat faedah daripada
perubahan positif yang dibawakan oleh barisan kepimpinan
baru serta pakej penggalak kewangan yang dilancarkan oleh
kerajaan. Tahap keyakinan di kalangan pelabur tempatan dan
juga asing telah meningkat. Pasaran ekuiti tempatan kembali
melonjak dan peningkatan 23.3% pasaran FTSE Bursa Malaysia
KLCI telah memberikan keputusan yang memberangsangkan
untuk Takaful Malaysia. Kutipan premium bertambah baik
dan kita turut menyaksikan penurunan yang besar bagi
peruntukan hutang ragu. Selain itu, pemulihan kebanyakan
projek prasarana yang tertangguh di bawah Pakej Penggalak
Ekonomi kerajaan Malaysia telah menyediakan peluang untuk
kita mengembangkan perniagaan.
However, in April to June 2009, the Malaysian economy saw
a dramatic turnaround. The local economic environment
benefitted from the positive changes heralded by the new
leadership and the fiscal stimulus launched by the government.
There is greater confidence both locally and amongst foreign
investors. The local equity market bounced back and the 23.3%
improvement of the FTSE Bursa Malaysia KLCI quickly translated
into favourable results for Takaful Malaysia. Collections of
premiums improved and we saw a significant reversal of
provision for doubtful debts. Furthermore, the revival of many
stalled infrastructure projects under the Malaysian government’s
Economic Stimulus Packages provided opportunities to grow
our business.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
Pemulihan yang ketara ini telah meletakkan Kumpulan
kembali ke landasan untuk mencapai keputusan yang lebih
baik berbanding dengan tahun yang sebelumnya dari segi
keuntungan walaupun jumlah hasil pulangan adalah lebih
rendah tetapi masih memperoleh keuntungan. Ini adalah
kerana kita telah menjadi lebih selektif dalam menaja jamin
serta mengurangkan segmen yang tidak menguntungkan akibat
penurunan kadar melalui proses menaja jamin yang semakin
ketat.
Isu penurunan kadar terus menjadi keutamaan kerana ia
merupakan akibat langsung daripada peningkatan persaingan
kerana sesetengah pesaing telah menurunkan kadar dalam
usaha untuk memenangi perniagaan walaupun kekurangan
sokongan retakaful. Takaful Malaysia menjadi perintis kepada
usaha melawan penurunan kadar dalam industri di mana
falsafah kita ialah peningkatan tahap perkhidmatan merupakan
faktor utama untuk meningkatkan keuntungan perniagaan kita.
Dengan perancangan Bank Negara untuk menerbitkan dua
lesen Takaful yang baru, tidak dapat dinafikan bahawa industri
kewangan Islam adalah sangat kukuh dan akan terus kekal
bersaingan. Takaful Malaysia mengalu-alukan peningkatan
persaingan kerana syarikat-syarikat baru akan menjadikan
industri ini kekal bertenaga melalui pengenalan produk yang
lebih banyak, meningkatkan tanda aras dan meyakinkan kita
supaya berusaha lebih gigih untuk mengekalkan kelebihan kita.
PENGEMBANGAN PERNIAGAAN
Pada tahun ini, Takaful Malaysia komited terhadap
pengembangan perniagaan melalui strategi serampang
tiga mata iaitu meningkatkan pengalaman pelanggan,
membangunkan saluran runcit agensi sepenuhnya dan
meluaskan saluran pengagihan.
Sejak ditubuhkan 25 tahun yang lalu, sebahagian besar
perniagaan Takaful Malaysia adalah berasaskan model
Mudharabah ataupun perkongsian keuntungan. Kita
kemudiannya memperkembangkan rangkaian produk dan
menyediakan perkhidmatan menyeluruh di semua cawangan
Takaful Malaysia seluruh negara. Walau bagaimanapun,
kita sedar bahawa kita mungkin telah kehilangan bahagian
pasaran selepas tahun 2005 dan para pelanggan mula meminta
perkhidmatan yang lebih bermutu walaupun dengan produk
perkongsian keuntungan yang sedia ada. Oleh itu kita telah
melabur dalam teknologi IT dan sumber insan untuk mengikuti
dan menguruskan kehendak pelanggan dan memastikan
penambahbaikan tahap perkhidmatan. Kakitangan barisan
hadapan kita turut dilatih untuk menjadi lebih responsif
dan berpengetahuan. Tahap perkhidmatan yang bermutu
tinggi adalah penting untuk kita menembusi sasaran pasaran
pertengahan atas. Pengenalan piawai prosedur operasi (SOP)
juga turut membantu menyediakan pendekatan yang terancang
dan berdisiplin dalam memberi perkhidmatan kepada para
pelanggan.
This tremendous recovery puts the Group back on track to
perform slightly better than last year’s results in terms of profit.
The turnover was lower but we were still able to deliver the
profits because we have become more selective in underwriting,
divesting those segments that are unprofitable due to declining
rates through stricter underwriting process.
The issue of declining rates continues to be significant as it
is a direct consequence of increased competition, as certain
competitors lowered rates in an attempt to win business despite
tighter availability of retakaful support. Takaful Malaysia is the
vanguard in the fight against rate-cutting in the industry, our
stand being that improved service levels is the key to growing
our business profitably.
Looking at the big picture which includes plans by Bank Negara
to issue two new Takaful licences, there is no doubt that the
Islamic finance industry is very healthy and will continue to be
competitive. Takaful Malaysia welcomes increased competition
as new players will keep the industry vibrant with the
introduction of more products, raising the bar and compelling
us to work even harder in order to keep our leading edge.
GROWING THE BUSINESS
This year, Takaful Malaysia is committed to expansion via
a three-pronged strategy, namely, improving the customer
experience, developing a new full-fledged agency retail channel
and expanding the overall distribution channels.
Since its inception 25 years ago, Takaful Malaysia’s business has
been largely – and very successfully – based on the Mudharabah,
or profit-sharing, model. Over the years, we have developed an
extensive range of products and services which were available
at Takaful Malaysia branches throughout the country. However,
we realise that we may have been losing market share after
2005 and customers are beginning to demand better quality
service despite the favourable profit sharing advantage of the
products. Thus, we have invested in IT technology and human
capital to track and manage the customer experience to ensure
our service levels improve and our frontliners are trained to
be more responsive and knowledgable. In order for us to shift
towards a middle-upper target market, high quality service
level is critical to penetrate this segment. Introduction of new
standard operating procedures(SOP) has helped in providing a
structured and discipline approach to service our customers.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
Inisiatif kedua iaitu membangunkan saluran pengagihan runcit
telah menghasilkan anjakan kepada model runcit Keluarga
Takaful kita.
Kita telah memperkenalkan model Wakalah pada akhir tahun
2008 bagi membolehkan kita merekrut agen-agen runcit
(Perunding Kewangan Takaful) sama seperti struktur agensi
konvensional. Langkah ini telah menandakan kemasukan kita
ke dalam pasaran dipacu agensi yang sangat kompetitif di
mana tahap perkhidmatan dan produk yang inovatif menjadi
teras kepada kejayaan.
Bagi inisiatif ketiga dan selaras dengan objektif untuk
meluaskan dan menyusun rangkaian pengagihan, kita telah
meningkatkan jumlah agen korporat menjadi lebih 1000 dan
telah memperkenalkan semula Takaful myDesk di pejabatpejabat Tabung Haji terpilih. Melalui peningkatan keupayaan
pengagihan ini, kita telah mengurangkan bilangan cawangan
dan menyusun semula operasi dengan membenarkan agen-agen
korporat dan kaunter Takaful myDesk memberi khidmat kepada
pelanggan. Inisiatif ini telah membantu kita mengurangkan
perbelanjaan operasi dan meningkatkan kecekapan operasi.
Sukacita saya maklumkan bahawa Premia, sistem teras takaful
kita, sedang dalam proses pelaksanaan untuk menggantikan
sistem dahulu dan kita telah menyempurnakan pelaksanaan
untuk perniagaan Takaful Am dalam masa 18 bulan pada awal
tahun 2009. Melalui pengukuhan prasarana IT, kita bersedia
memberi perkhidmatan yang lebih baik kepada pelanggan,
melaksanakan urusan dengan lebih lancar dan mengembangkan
rangkaian agensi kita dengan pesat. Semua warga Takaful
Malaysia bersedia menghadapi tahun 2010 dengan Kumpulan
yang berada dalam kedudukan terbaik untuk membawa
perniagaan ke mercu kejayaan.
The second initiative, which is developing a retail channel of
distribution created a shift in our Takaful Family retail model.
We introduced the Wakalah model in late 2008 to enable us
to recruit retail agents (Takaful Finance Consultants) which is
similar to the conventional agency structure. This move marks
our entry into the highly competitive agency driven market
where service levels and innovative products will be the pillar
to success.
The third initiative, in line with our objective of expanding
and streamlining our distribution network, we expanded the
number of corporate agents to over 1,000 and introduced the
Takaful myDesk at selected Tabung Haji offices. With this added
distribution capabilities, we reduced the number of branches
and streamline the operations by allowing the corporate agents
and Takaful myDesk counters to service the customers. This
initiative has helped us reduce operating expenses and increase
efficiency of operations.
I am very pleased to inform that Premia, our Takaful core system
is in the process of implementation to replace the legacy system
and we have completed the implementation for the General
Takaful business within 18 months in early 2009. With the
reinforced IT infrastructure, we will be in the position to serve
our customers better, do business more seamlessly and expand
our agency network exponentially. Everyone at Takaful Malaysia
is looking forward to 2010 when the Group is well-positioned
to fully propel the business forward.
Bagi sumber insan pula, sukacita saya memaklumkan bahawa
walaupun Kumpulan mengurangkan jumlah kakitangan,
pasukan warga kerjanya tetap lengkap dengan semua jawatan
kanan yang diisi oleh para individu yang berpengalaman.
On the human resources front, it gives me great satisfaction
to inform you that while the Group is leaner in terms of head
count, there is a full team on board and all the senior positions
have been filled with experienced people.
Kita komited dengan dasar latihan dan pembangunan staf kita.
Staf kita sentiasa dinilai untuk memastikan kita memiliki para
pekerja yang sesuai untuk melakukan tugas dengan cekap.
Kita melaksanakan latihan yang terperinci untuk memastikan
pengetahuan dan kemahiran mereka dikemaskinikan agar
mereka boleh ditempatkan dalam jawatan yang berbeza di
dalam Kumpulan.
We are committed to our policy on training and development.
Our staff is constantly being evaluated to make sure that we
have the right people for the right jobs. We conduct extensive
trainings to ensure that their knowledge and skills are up to date
as well as to be able to place them in different positions within
the Group.
Kita telah berupaya menarik minat para pekerja daripada
kedua-dua sektor kewangan Islam dan konvensional. Ini jelas
menunjukkan lebih ramai orang yang semakin berminat untuk
menerokai industri yang baru berkembang ini dan mereka telah
memilih Takaful Malaysia sebagai tempat untuk mereka belajar
dan memberi sumbangan.
We have managed to attract a steady influx of talent from both
the Islamic and conventional finance sectors, which is a clear
indication that more people are interested in exploring this new
growing industry and they have chosen Takaful Malaysia as the
place for them to learn and contribute.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
ULASAN KEWANGAN
FINANCIAL OVERVIEW
Prestasi Kumpulan
Kumpulan terus mencatatkan pertumbuhan prestasi yang
memberangsangkan bagi tahun kewangan berakhir 30 Jun
2009. Jumlah aset Kumpulan meningkat sebanyak 7.8% kepada
RM4.4 bilion pada akhir tahun kewangan, berbanding RM4.0
bilion pada tahun sebelumnya. Pulangan atas Ekuiti Pemegang
Saham (ROE Bersih) meningkat kepada 12.9% dalam tahun
kewangan semasa berbanding 10.8% sebelumnya.
Group Performance
The Group continued to register favourable growth in
performance for the financial year ended 30 June 2009. Total
assets of the Group increased by 7.8% to RM4.4 billion as
at the end of the financial year, compared to RM4.0 billion
the previous year. Return on Shareholders’ Equity (Net ROE)
improved to 12.9% during the financial year from 10.8% last
year.
Hasil operasi mencatatkan penurunan kepada RM1,049.1juta
berbanding RM1,075.8 juta pada tahun sebelumnya. Penurunan
ini sebahagian besarnya disebabkan oleh sumbangan lebih
rendah daripada perniagaan Takaful Keluarga yang menjadi
sebahagian daripada strategi penyusunan semula untuk
menamatkan perniagaan yang tidak menguntungkan manakala
produk berorientasikan pelaburan (berkaitan unit) mencatatkan
jualan yang lebih rendah kerana krisis ekonomi.
Keuntungan Sebelum Cukai (PBT) bagi tahun kewangan berakhir
30 Jun 2009 meningkat kepada RM48.9 juta berbanding
RM33.9 juta pada tahun kewangan sebelumnya.
Prestasi yang memberangsangkan ini dicapai hasil daripada
pemindahan lebihan yang tinggi daripada perniagaan Takaful
Am dan pendapatan operasi lain yang tinggi hasil daripada
yuran wakalah yang diperoleh sebahagian besarnya oleh
Syarikat Takaful Indonesia. Pemulihan pasaran ekuiti pada
suku keempat TK2009 telah berupaya meningkatkan keputusan
pendapatan pelaburan disebabkan oleh pembalikan peruntukan
bagi pengecilan pelaburan.
Tambahan lagi, terdapat kerosotan nilai yang dibuat berkaitan
dengan Asean Retakaful International (L) Ltd (ARIL) pada tahun
sebelumnya sebanyak RM20.3 juta. Tiada rosot nilai yang perlu
dibuat pada tahun ini.
Prestasi Syarikat
Bagi tahun kewangan berakhir 30 Jun 2009, Takaful Malaysia
telah mencatatkan penurunan Hasil Operasi sebanyak 1.9%
ke RM 871.1 juta berbanding tahun kewangan sebelumnya.
Penurunan ini disebabkan terutamanya oleh sumbangan
daripada perniagaan Takaful Keluarga di mana pada tahun
sebelumnya sumbangan tunggal Produk Berkaitan Pelaburan,
Takaful myAl-Afdhal mencapai pendapatan sumbangan
sebanyak RM90.2 juta. Kita tidak memiliki produk yang sama
pada tahun ini disebabkan oleh krisis ekonomi.
Walau bagaimanapun, sumbangan kasar daripada perniagaan
Takaful Am meningkat sebanyak 32.8% selepas penyelarasan
kelas-kelas yang tidak menguntungkan pada tahun kewangan
sebelumnya dan peningkatan keupayaan pengagihan melalui
agen-agen korporat.
Operating revenue records a decline to RM1,049.1 million from
RM1,075.8 million in the previous year. The declined results
mainly due to a lower contribution from the Family Takaful
business as part of the realignment strategy in weeding out the
less profitable business and investment oriented products (unit
linked) registered lower sales due to the economic crisis.
Profit Before Taxation (PBT) for the financial year ended 30
June 2009 increased to RM48.9 million compared to RM33.9
million in the previous financial year.
The favourable performance was achieved on the back of higher
surplus transfers from General Takaful business and higher other
operating income from wakalah fees earned largely by Syarikat
Takaful Indonesia. The recovery in the equity market during
the fourth quarter of the FY 2009 has managed to improve
the investment income results due to reversal in provision for
diminution in investments.
Futhermore, there was an impairment loss made in respect of
Asean Retakaful International (L) Ltd (ARIL) in the previous year
of RM20.3 million. No further impairment loss is required to be
made this year.
Company Performance
For the financial year ended 30 June 2009, Takaful Malaysia
recorded a decline in Operating Revenue of 1.9% to RM871.1
million as compared to the previous financial year. The decline
is mainly from the contribution of the Family Takaful business
where in previous year, the single contribution InvestmentLinked Product, Takaful myAl-Afdhal garnered RM90.2 million
in contribution income whereas we were not able to have a
similar product this year due to the economic crisis.
However, gross contribution from the General Takaful business
grew by 32.8% following the re-alignment of the non-profitable
classes in the previous financial year and expanded distribution
capabilities through corporate agents.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
Melihatkan kepada ketidaktentuan pasaran kewangan,
pendapatan
pelaburan
masih
mencatatkan
jumlah
pendapatan yang dibanggakan sebanyak RM189.7 juta
walaupun jumlah ini adalah lebih rendah sedikit berbanding
pendapatan pelaburan tahun sebelumnya sebanyak RM204.6
juta. Penurunan pendapatan pelaburan ini disebabkan
oleh pulangan yang lebih rendah daripada portfolio ekuiti
selaras dengan prestasi pasaran ekuiti tempatan semasa
tahun kewangan dan penurunan kadar keuntungan daripada
peletakan tetap.
Peruntukan aset strategik yang dilaksanakan semasa tahun
kewangan dan pendapatan yang lebih tinggi daripada kelas
aset yang lain telah meringankan kesan keputusan portfolio
ekuiti yang tidak memuaskan. Portfolio bon Islam mencatatkan
peningkatan pendapatan bersih yang ketara sebanyak 28.9%
kepada RM95.7 juta dari RM74.3 juta tahun ke tahun. Begitu
juga pendapatan bersih daripada pelaburan dalam Terbitan
Pelaburan Kerajaan yang meningkat sebanyak 11.6% kepada
RM24.1 juta. Selain itu, pendekatan pengurusan aktif kita
yang berterusan telah berupaya mengurangkan pulangan
negatif daripada portfolio ekuiti. Bagi tempoh di bawah kajian,
secara keseluruhannya portfolio ekuiti Takaful Malaysia telah
mengatasi Indeks FBM Shariah Emas sebanyak 10.4% di mana
indeks tanda aras telah menurun sebanyak 12.6%.
Keuntungan Sebelum Cukai (PBT) Takaful Malaysia meningkat
kepada RM45.3 juta berbanding tahun kewangan yang lalu
sebanyak RM42.7 juta. Selaras dengan strategi penjajaran
semula untuk menghentikan kelas-kelas yang tidak
menguntungkan, prestasi perniagaan Takaful Am adalah
memberangsangkan pada tahun kewangan semasa. Selain itu,
langkah-langkah yang diambil untuk meningkatkan produktiviti
dan kecekapan operasi telah menghasilkan tuntutan bersih
yang lebih rendah sebanyak RM19.6 juta dan mengubah
perbelanjaan hutang lapuk sebanyak RM21.2 juta pada tahun
sebelumnya menjadi pemulihan sebanyak RM5.6 juta.
ULASAN SUBSIDIARI
Kumpulan Syarikat Takaful Indonesia
Pada bulan Mei 2009, Takaful Malaysia telah menyuntik
sebanyak RM21.83 juta ke dalam Asuransi Takaful Keluarga
(ATK), sebuah subsidiari Syarikat Takaful Indonesia (STI) dan
melanggan sejumlah 64,762 saham biasa baru bernilai Rupiah
(IDR)1,000,000 setiap satu dalam ATK yang diterbitkan pada
paras par bagi menjadikan Takaful Malaysia memegang
kepentingan langsung sebanyak 42.73% dalam ATK.
Peningkatan kepentingan kita dalam rakan perniagaan Indonesia
adalah disebabkan potensi perniagaan jangka panjang yang
positif di negara tersebut dan juga untuk mengukuhkan
pangkalan modal bagi perkembangan perniagaan di masa
hadapan.
Considering the uncertainties in the financial markets,
investment income has recorded a commendable total income
of RM189.7 million even though this is slightly lower than the
previous year investment income of RM204.6 million. The
lower investment income was mainly due to the lower return
from the equity portfolio in line with the performance of the
local equity market during the year and declining profit rate
from fixed placements.
The strategic asset allocation implemented during the year
with higher income from other asset classes has cushioned the
impact of the less favourable result from the equity portfolio. The
Islamic bonds portfolio recorded a significant increase in net
income of 28.9% to RM95.7 million from RM74.3 million yearon-year. Similarly, net income from investment in Government
Investment Issue rose by 11.6% to RM24.1 million. Furthermore,
our continuous active management approach has managed to
minimise the negative return from the equity portfolio. For the
period under review, Takaful Malaysia’s overall equity portfolio
has outperformed the FBM Shariah Emas Index by 10.4% where
the benchmark index declined by 12.6%.
Profit Before Taxation (PBT) of Takaful Malaysia increased to
RM45.3 million compared to the previous financial year of
RM42.7 million. In tandem with the re-alignment strategy to
move out of non-profitable classes, the General Takaful business
performed favourably during the financial year. Furthermore,
measures taken to improve productivity and operational
efficiency had resulted in lower net claims incurred by RM19.6
million and turned the bad debt expense of RM21.2 million in
the previous year into a recovery of RM5.6 million.
REVIEW OF SUBSIDIARY
Syarikat Takaful Indonesia Group
In May 2009, Takaful Malaysia injected RM21.83 million into
Asuransi Takaful Keluarga (ATK), a subsidiary of Syarikat Takaful
Indonesia (STI) and subscribed to 64,762 new ordinary shares
of Indonesian Rupiah (IDR)1,000,000 each in ATK issued at par
resulting in Takaful Malaysia holding a direct interest of 42.73%
in ATK.
The increase in our stake in the Indonesian counterpart is due
to the long term positive business potential in Indonesia and to
strengthen the capital base for future expansion.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
Terdapat potensi besar dalam insurans Islam di Indonesia
kerana ia merupakan sebuah negara dengan jumlah penduduk
Islam yang kedua terbesar di dunia. Kita mengambil peluang
ini untuk menembusi pasaran berjumlah 200 juta penduduk
Islam yang masih belum diterokai ini.
“Bagi tahun kewangan semasa di bawah kajian, Kumpulan
STI mencatatkan keuntungan sebelum cukai sebanyak
RM1.7 juta berbanding RM4.1 juta pada tahun sebelumnya.
Walaupun pemindahan lebihan daripada perniagaan Takaful
Am telah meningkat, namun keputusan Kumpulan STI merosot
disebabkan lebihan yang lebih rendah daripada perniagaan
Takaful Keluarga yang sedikit sebanyak disebabkan oleh krisis
kewangan global. “
The potential of Islamic insurance is aplenty in Indonesia, the
second most populous Muslim nation in the world. We are
seizing this opportunity to penetrate this untapped market of
almost 200 million Muslims.
For the current financial year under review, STI Group recorded
a profit before tax of RM1.7 million compared with RM4.1
million in the preceding year. While the surplus transfer from
the General Takaful business has grown, the STI Group result
has been dragged down by the lower surplus from the Family
Takaful business, which has been partly impacted by the
contagion effect of the global financial crisis.
Asean Retakaful (ARIL)
ARIL menyusun kedudukannya untuk menguruskan perniagaan
asing dan telah berhenti menguruskan sebahagian besar
perniagaan retakaful tempatan pada tahun lepas. Bagi tahun
kewangan semasa yang ditinjau, ARIL mencatatkan kerugian
sebelum cukai sebanyak RM14.0 juta berbanding kerugian
sebelum cukai sebanyak RM0.5 juta pada tahun lepas
disebabkan oleh hapus kira Qardh Hassan selepas penamatan
perniagaan retakaful tempatan.
Asean Retakaful (ARIL)
ARIL has repositioned itself to write foreign business since it
ceased writing significant portion of the local retakaful business
last year. For current financial year under review, it recorded
a loss before taxation of RM14.0 million compared to a loss
before taxation of RM0.5 million last year due to further write
down of the Qardh Hasan following the cessation of local
retakaful business.
TADBIR URUS SOSIAL KORPORAT
CORPORATE SOCIAL GOVERNANCE
Sebagai sebuah syarikat berkaitan kerajaan (GLC), Takaful
Malaysia komited terhadap objektif tanggungjawab sosial
korporat (CSR) yang telah digariskan dalam Buku Perak,
yang merupakan satu set prinsip dan garis panduan yang
perlu dilaksanakan oleh GLC supaya mereka boleh memberi
sumbangan secara proaktif kepada masyarakat dan pada masa
yang sama menghasilkan nilai untuk para pemegang saham
mereka. Selaras dengan Buku Perak, kita berazam untuk
memberi sumbangan masyarakat secara paling cekap dan
berkesan sejajar dengan kebiasaan dan amalan terbaik industri
serta rangka kerja pengawasan yang berkaitan.
As a government-linked company (GLC), Takaful Malaysia is
committed to the corporate social responsibility (CSR) objectives
outlined in the Silver Book, which is a set of principles and
guidelines to be implemented by GLCs so they can proactively
contribute to society while still creating value for their
shareholders. In line with the Silver Book, we endeavour to
contribute to society in the most efficient and effective manner
in line with industry norms and best practices as well as the
relevant regulatory framework.
Tahun ini Kumpulan telah menyumbang lebih daripada RM1.5
juta bagi aktiviti CSR. Walau bagaimanapun, usaha CSR kita
bukan setakat kewangan sahaja kerana kita komited untuk
mewujudkan kehadiran dan pertalian dengan pihak yang kita
hulurkan bantuan.
This year, saw the Group contributed over RM1.5 million
towards CSR activities. However, our CSR efforts are not merely
financial as we are committed to creating a presence and a
relationship with those we assist.
Pada Januari 2009, Takaful Malaysia telah melancarkan
jenama di bawah payung CSR dipanggil Takaful myJalinan.
Ini merupakan langkah pertama ke arah memastikan semua
aktiviti CSR kita mencapai impak yang mapan. Tiga sub jenama
telah diperkenalkan di bawah jenama payung, setiap satu
khusus untuk menyokong kumpulan tidak bernasib baik yang
tertentu di dalam masyarakat.
In January 2009, Takaful Malaysia launched a CSR umbrella
brand called Takaful myJalinan. This is the first step towards
ensuring that all our CSR activities achieve a sustainable impact.
Three sub-brands were introduced under the umbrella brand,
each dedicated to supporting a particular underprivileged
group in the community.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Penyata Pengarah Urusan Kumpulan
Group Managing Director’s Statement
myJalinanKasih menyediakan bantuan kewangan dan fizikal
kepada para ibu tunggal, anak-anak yatim, orang kurang upaya
dan kumpulan miskin tegar. Takaful Malaysia telah menjadikan
Rumah Harapan Al Khaadem di Shah Alam sebagai rumah
angkat di bawah program myJalinan Kasih. Seramai 30 orang
kanak-kanak dan beberapa orang ibu tunggal yang tinggal di
Rumah ini telah mendapat faedah.
myJalinanIlmu memberi tumpuan untuk membantu para
pelajar dari latar belakang miskin tegar. Takaful Malaysia telah
menjadikan Sekolah Kebangsaan Permatang Binjai di Pulau
Pinang sebagai sekolah angkat bagi tujuan ini. Sumbangan kita
kepada sekolah ini termasuklah 20 buah komputer peribadi
yang lengkap dengan aplikasi Microsoft Office, buku kerja
sekolah serta sesi motivasi untuk para pelajar dan ibu bapa
mereka. Kita juga memberi bantuan kewangan kepada para
pelajar miskin tegar.
myJalinanAlam menyediakan rangka kerja untuk inisiatif
penjagaan alam sekitar kita. Buat permulaan, kita telah
menanam 50 batang pokok buah-buahan di Rumah Harapan
Al Khaadem. 50 pokok lagi telah diberikan kepada para
tetamu yang hadir di majlis ‘Pokok Angkat’. Kita harap dapat
meneruskan usaha ini di pusat-pusat lain di seluruh negara.
PENGHARGAAN
Bagi pihak Lembaga Pengarah, saya mengambil peluang ini
untuk mengucapkan terima kasih kepada Pengerusi kita, Tan
Sri Dr Hadenan Abdul Jalil yang telah meletakkan jawatan
pada 16 Julai 2009 atas kepimpinan dan sumbangan beliau
yang amat berharga kepada Takaful Malaysia. Saya juga
mengucapkan terima kasih kepada para kakitangan, pengarah,
rakan niaga dan yang paling penting sekali para pelanggan kita
atas sokongan dan komitmen mereka sepanjang 25 tahun yang
lalu. Tanpa mereka, kita tidak akan berada di kedudukan ini
sekarang.
myJalinanKasih provides assistance, both financial and physical,
to single mothers, orphans, disabled and the hard-core poor.
Takaful Malaysia has adopted Al Khaadem Home of Hope in
Shah Alam under the myJalinan Kasih programme, benefitting
30 children and several single mothers residing in the Home.
myJalinanIlmu focuses on assisting students from hard-core
poor backgrounds. Takaful Malaysia adopted Sekolah
Kebangsaan Permatang Binjai in Penang for this purpose. Our
contributions to the school included 20 personal computers
equipped with Microsoft Office applications, school
workbooks, and motivational sessions with the students and
their parents. We also provided financial assistance to the hardcore poor students.
myJalinanAlam provides the framework for our initiatives to
care for the environment. As a start, we planted 50 fruit trees at
Al Khaadem Home of Hope. Another 50 trees were given away
to guests who attended an ‘Adopt-a-Tree’ programme. We hope
to continue this effort at other centres around the country.
ACKNOWLEDGEMENTS
On behalf of the Board of Directors, I would like to take this
opportunity to thank our Chairman, Tan Sri Dr Hadenan Abdul
Jalil who resigned on 16 July 2009, for his inspired leadership
and invaluable contribution to Takaful Malaysia. I also would
like to thank the employees, directors, business partners and
most importantly of all, our customers for their support and
commitment – over the past 25 years. Without them, we would
not be here today.
We look forward to further strengthening our relationships
in pursuit of our vision to be the “Preferred Choice for
Insurance”.
Kita berharap dapat mengeratkan perhubungan ini lagi demi
mengejar wawasan kita untuk manjadi “Insurans pilihan
utama”.
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Pengarah Urusan Kumpulan/Group Managing Director
Kuala Lumpur
Tarikh/ Dated: 23 September 2009
Financial Statements
64 Directors’ Report
76
Statements of Changes In Equity
69 Statement by Directors
77
Family Takaful Balance Sheet
70 Statutory Declaration
78
Family Takaful Revenue Accounts
71 Independent Auditor’s Report
80
General Takaful Balance Sheet
73 Report of the Shariah Advisory Body
81
General Takaful Revenue Accounts
74 Balance Sheets
83
Cash Flow Statements
75 Income Statements
85
Notes to the Financial Statements
64
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Directors’ Report
for the financial year ended 30 June 2009
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for
the financial year ended 30 June 2009.
Principal Activities
The principal activities of the Company consist of managing family and general takaful businesses, whilst the principal activities
of the subsidiaries are as stated in Note 6 to the financial statements. There has been no significant change in the nature of these
activities during the financial year.
Results
Net profit for the financial year Group
RM’000
Company
RM’000
40,454 37,182
Reserves and Provisions
There were no material transfers to or from reserves and provisions during the financial year under review.
Dividends
Since the end of the previous financial year, the Company paid a final dividend of 3.5% less tax totalling RM 4,273,946 on
9 January 2009 in respect of the financial year ended 30 June 2008.
The final dividend recommended by the Directors in respect of the financial year ended 30 June 2009 is 7.25% less tax totalling
RM8,853,174 calculated based on share capital at 30 June 2009.
Directors of the Company
Directors who served since the date of the last report are:
Y. Bhg. Tan Sri Dr. Hadenan b. A. Jalil Y. A. M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
Puan Rozaida bt. Omar
Encik Mahadzir b. Azizan
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
Encik Johan b. Abdullah
(Resigned on 16 July 2009)
In accordance with Article 62 of the Company’s Articles of Association, Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
and Puan Rozaida bt. Omar will retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for reelection.
Directors’ Interests
According to the register of directors’ shareholding, none of the directors in office at the end of the financial year held any interest
in the shares and options over shares of the Company or its related corporations during the financial year ended 30 June 2009.
Directors’ Benefits
Since the end of the previous financial year, no Director of the Company has received nor become entitled to receive any 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.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Directors’ Report
for the financial year ended 30 June 2009
Directors’ Benefits (Continued)
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, apart from
the Company’s and holding company’s Employees’ Share Option Scheme (“ESOS”).
Issue of Shares
During the financial year, the Company issued 1,241,000 ordinary shares of RM1 each for cash arising from the exercise of
employees’ shares options at a weighted average exercise price of RM1.20 per ordinary share.
The newly issued shares under ESOS rank pari pasu in all respects with the existing shares of the Company.
There were no other changes in the issued and paid-up capital of the Company during the financial year.
Options Granted Over Unissued shares
No options were granted to any person to take up unissued shares of the Company during the year. The ESOS scheme expired on
2 November 2008 and accordingly all outstanding unexercised options lapsed.
At an extraordinary general meeting held on 28 June 2003, the Company’s shareholders approved the establishment of an employees’
share option scheme of not more than 10% of the issued share capital of the Company to eligible Directors and employees of the
Group, save for employees of companies which are dormant and which are not incorporated in Malaysia.
The options offered to take up unissued ordinary shares of RM1.00 each and the option prices are as follows:
Date of Offer
31.10.2003
Option
Price
RM1.20
Number of Options over Ordinary Shares of RM1 each
Balance at
1.7.2008
Granted
Exercised
Lapsed
1,915,000 -
(1,241,000)
(674,000)
Balance at
30.6.2009
-
The salient features of the scheme are as follows:
(i) Eligible employees are those who have been confirmed in writing as employees of the Group (save for any subsidiaries which
are dormant and which are not incorporated in Malaysia) for at least one year prior to the date of the offer.
(ii) The option is personal to the grantee and is non-assignable.
(iii) The option price shall be determined by the average of the middle market quotation of the Company’s ordinary shares as
shown in the daily official list issued by Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for the five trading days preceding
the respective dates of the offer in writing to the grantee or at the par value of the ordinary shares of the Company, whichever
is higher.
(iv) The options granted may be exercised at any time within a period of five years from the date of offer of the option or such
shorter period as may be specifically stated in the offer upon giving notice in writing.
(v) The options granted may be exercised in full or in lesser number of ordinary shares provided that the number shall not be less
than 1,000 new shares and not more than ten per cent (10%) of the issued and paid up share capital of the Company at the
point in time when an offer is made.
(vi) The option scheme shall be in force for five years until 1 November 2008.
The persons to whom the options have been granted have no rights to participate by virtue of the options in any share issue of any
other company.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Directors’ Report
for the financial year ended 30 June 2009
Statement on Corporate Governance and Internal Controls
(a) Board Responsibilities
The Board of Directors (“the Board”) is ultimately responsible for the proper stewardship of the Company’s resources, the
achievement of corporate objectives and good corporate citizenship and discharges this responsibility through compliance
with the Takaful (Amendment) Act, 1984 and BNM Guidelines on Duties and Responsibilities of Directors and Chief Executives
of Insurers (JPIT/GPT 1) and other directives, in addition to adopting other best practices on corporate governance.
The Board comprises five non-executive directors and one executive director to enable a balanced and objective consideration
of issues, hence facilitating optimal decision making. The executive director adds value to the decision making process by
providing a management and operational perspective to issues placed before the Board.
(b) Management Accountability
The Company has an organisational structure showing all reporting lines as well as clearly documented job descriptions for
all management and executive employees.
Authority limits, as approved by the Board, are clearly established and made available to all employees.
(c) Corporate Independence
The Company has complied with BNM’s Guidelines on Related Party Transactions (JPIT/GPT 7) (Consolidated). Necessary
disclosures have been made to the Board and when required, prior Board’s approval has been obtained. All material related
party transactions have been disclosed in Note 35 to the financial statements.
(d) Internal Controls and Operational Risk Management
The responsibility for establishing an effective risk management and internal control system rests with the Board.
The Board has put in place an enterprise-wide risk management framework within the Company to ensure that there is an
on-going process of identifying, evaluating, monitoring and managing the significant risks faced by the Company through
designated management functions. Currently, there are efforts to improve its risk management process in the areas of operations,
financial and other critical areas.
The group is undergoing continuous operational transformation which involves changes in the Senior Management, Information
Technology systems, business process, etc. Therefore, appropriate actions have been and are currently undertaken to improve
on the policies, processes and organisational structures that form key elements of internal controls.
(e) Public Accountability
As custodian of public funds, the Company’s dealings with the public are always conducted fairly, honestly and
professionally.
(f) Financial Reporting
The Company has maintained proper accounting records and the Company’s financial statements are prepared in accordance
with Financial Reporting Standards (“FRS”) issued by the Malaysian Accounting Standards Board (“MASB”), the provisions
of the Companies Act, 1965, the Takaful (Amendment) Act, 1984 and Takaful Guidelines/Circulars issued by Bank Negara
Malaysia (“BNM”) and Principles of Shariah.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Directors’ Report
for the financial year ended 30 June 2009
Other Statutory Information
Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that:
(i) all known bad debts have been written off and adequate provision made for doubtful debts;
(ii) all current assets have been stated at the lower of cost and net realisable value; and
(iii) there was adequate provision for incurred claims, including Incurred But Not Reported (“IBNR”) claims.
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 and provision for
incurred claims including IBNR claims 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 financial statements, that would render any amount stated in the financial
statements of the Group and of the Company misleading.
The contingent liabilities of the Group and the Company are disclosed in Note 41 to the financial statements. As 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 liabilities in respect of the Group or of the Company that has arisen since the end of the financial year.
No other contingent liabilities 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 year which, in the opinion of the Directors, will or
may substantially affect the ability of the Group and of the Company to meet their obligations as and when they fall due.
For the purpose of this paragraph, contingent and other liabilities do not include liabilities arising from contracts of takaful
underwritten in the ordinary course of business of the Group and the Company.
In the opinion of the Directors, other than the realised gain on disposal of investments and allowance for diminution in investments,
the results of the operations of the Group and of the Company for the financial year ended 30 June 2009 have not been substantially
affected 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 the financial year and the date of this report.
67
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Directors’ Report
for the financial year ended 30 June 2009
Auditors
The auditors, Messrs KPMG Desa Megat & Co., have indicated their willingness to accept re-appointment.
Signed on behalf of the Board of Directors in accordance with a resolution of the Directors:
…………………………………………………………
Encik Johan b. Abdullah
…………………………………………………………
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
Date: 16 September 2009
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statement by Directors
pursuant to Section 169(15) of the Companies Act, 1965
In the opinion of the Directors, the financial statements set out on pages 74 to 149 are drawn up in accordance with the provisions
of the Companies Act, 1965 and Financial Reporting Standards issued by the Malaysian Accounting Standards Board and comply
with the Principles of Shariah so as to give a true and fair view of the state of affairs of the Group and of the Company at 30 June
2009 and of the results of their operations and cash flows for the year ended on that date.
Signed in accordance with a resolution of the Directors:
…………………………………………………………
Encik Johan b. Abdullah
…………………………………………………………
Dato’ Mohamed Hassan Md. Kamil
Kuala Lumpur,
Date: 16 September 2009
69
70
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statutory declaration
pursuant to Section 169(16) of the Companies Act, 1965
I, Lee Kok Wah, the officer primarily responsible for the financial management of Syarikat Takaful Malaysia Berhad, do solemnly
and sincerely declare that the financial statements set out on pages 74 to 149 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 above named in Kuala Lumpur on 16 September 2009.
Before me:
………………………..…………...........
Lee Kok Wah
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Report of the Auditors’
to the members of Syarikat Takaful Malaysia Berhad
(Company No. 131646-K)
(Incorporated in Malaysia)
Report on the Financial Statements
We have audited the financial statements of Syarikat Takaful Malaysia Berhad, which comprise the balance sheets as at 30 June
2009 of the Group and of the Company, and the income statements, revenue accounts, statements of changes in equity and cash
flow statements of the Group and of the Company for the year then ended, and a summary of significant accounting policies and
other explanatory notes, as set out on pages 74 to 149.
Directors’ Responsibility for the Financial Statements
The Directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance
with Financial Reporting Standards and the Companies Act, 1965 in Malaysia. This responsibility includes: designing, implementing
and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance
with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.
The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company’s
preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by
the Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and the
Companies Act, 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company as
of 30 June 2009 and of their financial performance and cash flows for the year then ended.
Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report the following:
(a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company and its
subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the Act.
(b) We have considered the accounts and the auditors’ reports of all the subsidiaries of which we have not acted as auditors,
which are indicated in Note 6 to the financial statements.
(c) We are satisfied that the accounts of the subsidiaries that have been consolidated with the Company’s financial statements are
in form and content appropriate and proper for the purposes of the preparation of the financial statements of the Group and
we have received satisfactory information and explanations required by us for those purposes.
(d) The audit reports on the accounts of the subsidiaries did not contain any qualification or any adverse comment made under
Section 174(3) of the Act.
71
72
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Report of the Auditors’
to the members of Syarikat Takaful Malaysia Berhad
(Company No. 131646-K)
(Incorporated in Malaysia)
Other Matters
This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies Act, 1965
in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report.
................................................
KPMG Desa Megat & Co
Firm Number: AF: 0759
Chartered Accountants
Date: 16 September 2009
....................................................
Khaw Hock Hoe
Approval Number: 2229/04/10 (J)
Chartered Accountant
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Report Of The Shariah Advisory Body
We, Datuk Abdul Hamid b. Said and Mohd Bakir Haji Mansor, being two of the members of Shariah Advisory Body of Syarikat
Takaful Malaysia Berhad, do hereby confirm on behalf of the Body, that in our opinion, the operations of the Company for the year
ended 30 June 2009 have been conducted in conformity with Shariah requirements.
On behalf of the Shariah Advisory Body :
…………………………………………………….
Mohd Bakir Haji Mansor
………….................................................................
Datuk Abdul Hamid b. Said
Kuala Lumpur,
Date: 16 September 2009
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Balance Sheets
as at 30 June 2009
Note
ASSETS
Shareholders’ assets
Property and equipment
3
Prepaid lease payments
4
Investment properties
5
Investment in subsidiaries
6
Investment in associates
7
Investments
8
Financing receivables
9
Deferred tax assets
16
Qardh Hasan - Receivables
10
Receivables
11
Assets held for sale
12
Cash and bank balances
13
2009
RM’000
Group
2008
RM’000
Company
2009
2008
RM’000
RM’000
32,456 3,291 11,156 -
-
267,984 14,018 8,185 31,722 46,741 1,471 7,596 42,237 3,618 26,369 -
-
137,305 12,702 16,640 80,861 16,945 39,364 9,743 26,868 1,241 10,865 72,247 -
202,353 13,411 4,295 28,274 29,202 1,471 6,473 35,477
1,271
25,825
27,550
113,050
12,003
12,438
80,861
13,833
22,872
8,297
Total Shareholders’ assets Total Family takaful assets (page 77)
Total General takaful assets (page 80)
Less : Interfund balances
424,620 3,364,426 640,607 (57,418)
385,784 3,100,760 592,282 (31,527)
396,700 3,167,422 596,592 (41,834)
353,477
2,917,475
544,801
(19,493)
TOTAL ASSETS
4,372,235 4,047,299 4,118,880 3,796,260
LIABILITIES
Shareholders’ liabilities
Liabilities held for sale
12
Payables
14
Provision for taxation
-
46,476 699 3,233 44,391 2,125 -
33,077 395 22,976
1,671
Total Shareholders’ liabilities
Total Family takaful liabilities (page 77)
Total General takaful liabilities (page 80)
Less : Interfund balances
47,175 249,052 303,640 (57,418)
49,749 189,494 315,105 (31,527)
33,472 222,371 270,135 (41,834)
24,647
167,563
276,185
(19,493)
Family takaful fund
18
General takaful fund
19
542,449 3,115,374 336,967 522,821 2,911,266 277,177 484,144 2,945,051 326,457 448,902
2,749,912
268,616
TOTAL LIABILITIES
3,994,790 3,711,264 3,755,652 3,467,430
SHAREHOLDERS’ EQUITY
Share Capital
21
Reserves
162,817 186,677 161,576 142,789 162,817 200,411 161,576
167,254
Total equity attributable to
shareholders of the Company
Minority interest
17
349,494 27,951 304,365 31,670 363,228 -
328,830
-
Total Equity
377,445 336,035 363,228 328,830
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
4,372,235 4,047,299 4,118,880 3,796,260
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Income Statements
for the year ended 30 June 2009
Note
Group
Company
2009
2008
RM’000
RM’000
2009
RM’000
2008
RM’000
23
1,049,134 1,075,834 871,077 888,230
Transfer from revenue accounts
Family takaful
General takaful
Wakalah fee income
Investment income
24
Other operating income
25
Management expenses
26
Other operating expenses
27
66,149 81,583 38,718 9,289 17,850 (148,420)
(15,454)
108,162 61,451 33,021 9,487 27,478 (142,189)
(59,500)
56,979 78,961 9,427 6,678 11,287 (112,886)
(4,615)
90,416
59,932
5,975
21,384
(121,429)
(10,159)
Profit from operations
Finance costs
49,715 -
37,910 -
45,831 -
46,119
-
Profit before zakat and taxation
Zakat
Taxation
31
49,715 (862)
(8,399)
37,910 (4,050)
(9,222)
45,831 (506)
(8,143)
46,119
(3,460)
(11,618)
Profit for the year
40,454 24,638 37,182 31,041
Attributable to:
Shareholders of the Company
Minority interest
39,394 1,060 29,705 (5,067)
37,182 -
31,041
-
Profit for the year
40,454 24,638 37,182 31,041
Operating revenue
Earnings per share
Basic earnings per share (sen)
Diluted earnings per share (sen)
32
32
24.2
24.2
18.7
18.7
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statements of Changes in Equity
for the year ended 30 June 2009
Group
Share
capital
RM’000
Non – distributable
Share Translation
premium
reserve
RM’000
RM’000
Distributable
Retained
Minority
profits
interest
RM’000
RM’000
Total
RM’000
At 1 July 2007
Exchange differences
Net loss not recognised in the
income statement
Issue of shares - Cash Net profit for the year Interim dividend for the
financial year 2008 (Note 22)
156,302 2,795 (3,984)
119,082 37,704 311,899
-
-
(1,700)
-
(967)
(2,667)
-
5,274 -
-
1,054 -
(1,700)
-
-
-
-
29,705 (967)
-
(5,067)
(2,667)
6,328
24,638
-
-
-
(4,163)
-
(4,163)
At 30 June 2008
161,576 3,849 (5,684)
144,624 31,670 336,035
161,576 3,849 (5,684)
144,624 31,670 336,035
-
-
2,042 -
1,698 3,740
-
1,241 -
249 2,042 -
-
-
1,698 -
3,740
1,490
-
-
-
-
-
-
6,477 39,394 (6,477)
1,060 40,454
-
-
-
(4,274)
-
(4,274)
162,817 4,098 (3,642)
186,221 27,951 377,445
At 1 July 2008
Exchange differences
Net gain not recognised in the
income statement
Issue of shares - Cash
Acquisition of additional
interest in a subsidiary Net profit for the year
Final dividend for the
financial year 2008 (Note 22)
At 30 June 2009
Company
Non - distributable
Share
Share
capital
premium
RM’000
RM’000
Distributable
Retained
profits
RM’000
Total
RM’000
At 1 July 2007 156,302 2,795 136,527 295,624
Issue of shares 5,274 1,054 -
6,328
Net profit for the year
-
-
31,041 31,041
Interim dividend for the financial year 2008 (Note 22)
-
-
(4,163)
(4,163)
161,576 3,849 163,405 328,830
Issue of shares 1,241 249 -
1,490
Net profit for the year
-
-
37,182 37,182
Final dividend for the financial year 2008 (Note 22)
-
-
(4,274)
(4,274)
162,817 4,098 196,313 363,228
At 30 June 2008/1 July 2008
At 30 June 2009
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Family Takaful Balance Sheet
as at 30 June 2009
Note
Assets
Property and equipment
Investment properties
Investment-linked Takaful assets
Investments
Financing receivables
Receivables
Assets held for sale
Cash and bank balances
3
5
34
8
9
11
12
13
Total family takaful assets
Liabilities
Payables
Provision for outstanding claims
Investment-linked Takaful liabilities
14
15
34
Total family takaful liabilities
Participants’ fund
Family takaful fund
18
Total family takaful liabilities
and participants’ fund
Group
Company
2009
2008
RM’000
RM’000
2009
RM’000
2008
RM’000
-
204,983 193,606 2,785,629 9,382 116,768 800 53,258 261 219,552 175,459 2,466,908 19,695 111,969 -
106,916 -
196,097 141,477 2,666,468 5,662 108,936 800 47,982 261
211,453
130,840
2,388,516
3,073
87,927
95,405
3,364,426 3,100,760 3,167,422 2,917,475
186,322 48,130 14,600 129,538 49,547 10,409 167,091 40,680 14,600 114,441
42,713
10,409
249,052 189,494 222,371 167,563
3,115,374 2,911,266 2,945,051 2,749,912
3,364,426 3,100,760 3,167,422 2,917,475
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Family Takaful Revenue Accounts
for the year ended 30 June 2009
Note
2009
RM’000
Group
2008
RM’000
Company
2009
2008
RM’000
RM’000
Gross contributions
23
Retakaful
Increase in actuarial reserves 18
524,867 (12,030)
(8,270)
655,890 (16,324)
(53,458)
433,007 (1,779)
(9,742)
538,546
(4,612)
(52,385)
Net contributions
Benefits paid and payable
Death/disability
Maturities
Surrenders
Medical
Others 504,567 586,108 421,486 481,549
(116,368)
(29,931)
(121,744)
(18,196)
7,599 (124,906)
(19,099)
(119,673)
(11,898)
13,157 (108,859)
(22,177)
(111,744)
(9,330)
3,726 (119,069)
(10,863)
(105,872)
(196)
7,240
(278,640)
(262,419)
(248,384)
(228,760)
Wakalah fee
Net admin fee (22,429)
(15,207)
(15,312)
(8,857)
(9,427)
(15,207)
(8,857)
188,291 299,520 148,468 243,932
103,289 195,238 82,451 174,533
84,689 103,506 65,704 68,623
Underwriting profit
- Individual Family
Underwriting profit
- Group Family and others
Underwriting profit
- Group Family ILB Less: Underwriting profit
- Individual Family
313 188,291 776 299,520 313 148,468 776
243,932
(103,289)
(195,238)
(82,451)
(174,533)
Underwriting profit
- Group Family and others & Group Family ILB
Investment income
24
Other operating income
25
Other operating expenses
27
85,002 138,850 21,408 (41,540)
104,282 117,439 57,973 6,914 66,017 132,607 34,084 (36,053)
69,399
112,750
51,271
12,163
Total profit for the year after excluding
underwriting profit for Individual Family
203,720 286,608 196,655 245,583
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Family Takaful Revenue Accounts
for the year ended 30 June 2009
Note
2009
RM’000
2008
RM’000
Company
2009
2008
RM’000
RM’000
Total profit for the year after excluding
underwriting profit for Individual Family
Less: Allocation of special reserves
203,720 (3,625)
286,608 (5,116)
196,655 (3,625)
245,583
(5,116)
200,095 281,492 193,030 240,467
-
(53)
-
(53)
Profit attributable to the Company and
participants for the year after excluding
underwriting profit for Individual Family
Profit attributable to education plan
transferred to payables
Profit attributable to the Company transferred
to income statement
Group
(66,149)
(108,162)
(56,979)
(90,416)
Profit payable to participants
133,946 (2,909)
173,277 -
136,051 (2,909)
149,998
-
Profit attributable to participants for the year
131,037 173,277 133,142 149,998
Family takaful funds at the beginning of the year
Underwriting profit – Individual Family Profit attributable to participants for the year
Movement for the year:
- Actuarial reserves
- Interfund
- Unrealised loss in value of investments
- Qardh Hasan
- Seed capital
Special reserve
Translation reserves
2,911,266 103,289 131,037 2,374,844 195,238 173,277 2,749,912 82,451 133,142
2,291,510
174,533
149,998
8,270 -
-
(55,840)
18,766 3,625 (5,039)
53,458 29,963 (4,491)
94,280 -
5,116 (10,419)
9,742 -
-
(52,587)
18,766 3,625 -
52,385
(4,491)
80,861
5,116
-
Family takaful fund at the end of the year
3,115,374 2,911,266 2,945,051 2,749,912
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
General Takaful Balance Sheet
as at 30 June 2009
Note
2009
RM’000
2008
RM’000
Company
2009
2008
RM’000
RM’000
Assets
Property and equipment
Investment properties
Investments
Financing receivables
Receivables
Cash and bank balances
-
28,954 525,028 3,478 74,221 8,926 6
43,052 425,104 2,024 81,819 40,277 -
28,954 502,427 3,478 56,047 5,686 6
43,052
400,956
2,024
63,900
34,863
Total general takaful assets
640,607 592,282 596,592 544,801
Liabilities
Payables
Provision for outstanding claims
132,235 171,405 129,507 185,598 124,931 145,204 121,752
154,433
Total general takaful liabilities
303,640 315,105 270,135 276,185
Participants’ fund
General takaful fund
336,967 277,177 326,457 268,616
640,607 592,282 596,592 544,801
3
5
8
9
11
13
14
15
19
Total general takaful liabilities
and participants’ fund
Group
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
General Takaful Revenue Accounts
for the year ended 30 June 2009
Marine
Fire
Note
Motor
Aviation & Transit
Miscellaneous
Total
2009
2008
2009
2008
2009
2008
2009
2008
2009
2008
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Group
Gross contributions
118,222 80,127 126,943 83,475 12,504 12,126 95,182 93,376 352,851 269,104
Retakaful
23
(62,023)
(33,843)
(2,787)
(3,139)
(6,640)
(9,107)
(41,865)
(40,515) (113,315)
Net contributions
56,199 46,284 124,156 80,336 5,864 3,019 53,317 52,861 239,536 182,500
1,915 202 1,491 (6,462)
(86,604)
Decrease/(Increase)
in unearned
contribution reserves
20
Earned contributions
(4,711)
2,997 (24,830)
6,114 (35,801)
12,517
51,488 49,281 99,326 82,251 6,066 4,510 46,855 58,975 203,735 195,017
1,804 (14,794)
(59,183)
(62,830)
(3,222)
(2,124)
(16,207)
(25,245)
Wakalah fee
(3,683)
(3,037)
(7,136)
(7,642)
(1,033)
(1,326)
(4,437)
(5,704)
(16,289)
(17,709)
Net admin fee 2,851 4,961 (6,033)
(871)
(1,148)
(417)
(5,302)
(2,818)
(9,632)
855
Underwriting surplus 52,460 36,411 26,974 10,908 663 643 20,909 25,208 101,006 73,170
Net claims incurred
33
(76,808) (104,993)
Investment income
24
23,277 Other operating income
25
10,568 23,914
19,178
Other operating expenses
27
(8,763)
(21,940)
Total profit for the year
126,088 94,322
Transfer to income statement
(81,583)
(61,451)
Participants’ share of profit
44,505 32,871
Profit payable to participants (23,494)
(19,754)
21,011 13,117
of the year
40,639 27,522
61,650 40,639
Profit attributable to
participants for the year
Profit attributable to
participants at beginning
Profit attributable to
participants at the end
of the year
Unearned contribution
reserves
20
Special reserves
230,121 194,320
23,061 23,061
– Qardh Hasan
19,245 16,893
Translation differences
2,890 2,264
Statutory liabilities
General Takaful fund at
end of the year
336,967 277,177
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
General Takaful Revenue Accounts
for the year ended 30 June 2009
Marine
Fire
Note
Motor
Aviation & Transit
Miscellaneous
Total
2009
2008
2009
2008
2009
2008
2009
2008
2009
2008
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Company
Gross contributions
82,817 64,019 109,741 64,448 8,242 6,218 75,494 73,356 276,294 208,041
Retakaful
23
(41,019)
(27,799)
(916)
(2,454)
(5,340)
(7,814)
(33,451)
(34,671) (80,726)
Net contributions
41,798 36,220 108,825 61,994 2,902 (1,596)
42,043 38,685 195,568 135,303
2,835 222 1,455 1,279 (72,738)
Decrease/(Increase) in
unearned contribution
reserves
20
Earned contributions
(5,741)
3,135 (24,198)
7,362 (28,438)
14,787
36,057 39,355 84,627 64,829 3,124 (141)
43,322 46,047 167,130 150,090
4,576 (10,564)
(49,175)
(51,688)
(2,552)
2,197 (12,370)
(19,016)
(59,521)
(79,071)
Net admin fee 5,296 7,127 (5,927)
(832)
(522)
181 (3,793)
(931)
(4,946)
5,545
Underwriting surplus 45,929 35,918 29,525 12,309 50 2,237 27,159 26,100 102,663 76,564
Net claims incurred
33
Investment income
24
22,491 Other operating income
25
10,566 17,492
Other operating expenses
27
(4,117)
(21,158)
Total profit for the year
131,603 95,816
Transfer to income statement
(78,961)
(59,932)
Participants’ share of profit 22,918
52,642 35,884
Profit payable to participants
(23,239)
(19,451)
29,403 16,433
63,393 46,960
at end of the year
92,796 63,393
Profit attributable to participants
for the year
Profit attributable to participants
at beginning of the year
Profit attributable to participants
Unearned contribution
reserves
Special reserves
20
210,600 182,162
23,061 23,061
General takaful fund at
end of the year
326,457 268,616
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Cash Flow Statements
for the year ended 30 June 2009
Group
2009
RM’000
Cash flows from operating activities
Profit before zakat and taxation
49,715 Adjustments for:
Depreciation and amortisation:
- Shareholders’ Fund
10,817 - Family Takaful Fund
261 - General Takaful Fund
6
Fair value change of investment properties
(18,021)
Income from financing receivables
(1,615)
Income from Islamic Debt Securities,
Investment Accounts and Islamic Accepted Bills (123,067)
Profit from Malaysian Government Investment Certificates (19,109)
Dividend income from Shariah approved shares
(12,989)
Gain on disposal of quoted shares and unit trusts
(2,039)
Gain on disposal of property and equipment (61)
Gain on disposal of investment properties
(1,506)
Loss/(Gain) on foreign exchange
4,219 Write off of investments and equipment
2,997 Accretion of discounts
(5,195)
Allowance for/(Reversal of) diminution in value
of investments
- Shareholders’ Fund
2,192 - Family Takaful Fund
9,649 - General Takaful Takaful Fund
1,661 - Investment-linked Takaful Fund
13,891 Impairment loss of investment in a subsidiary
-
Reversal of non-performing financing:
- Shareholders’ Fund
(2,045)
- Family Takaful Fund
(3,203)
- General Takaful Fund
(1,950)
Operating loss before working capital changes
(95,392)
2008
RM’000
Company
2009
2008
RM’000
RM’000
37,910 45,831 46,119
17,602 54 1
(15,689)
(864)
9,163 261 6
(17,276)
(1,253)
16,188
55
1
(15,685)
(479)
(111,297)
(18,266)
(6,858)
(57,675)
-
(111)
(2,045)
4,617 (2,416)
(114,470)
(18,116)
(12,912)
(14,980)
(26)
(1,506)
-
2,997 (5,195)
(104,871)
(18,266)
(6,858)
(51,323)
(26)
4,614
(2,416)
(3,272)
(1,798)
(2,110)
4,491 20,308 1,666 9,785 1,343 9,520 -
(3,189)
(1,799)
(2,110)
4,491
8,513
(248)
(982)
(822)
(2,045)
(3,276)
(1,950)
(248)
(982)
(822)
(139,470)
(112,433)
(129,093)
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Cash Flow Statements
for the year ended 30 June 2009
Group
Company
2009
2008
RM’000
RM’000
2009
RM’000
2008
RM’000
(95,392)
(139,470)
(112,433)
(129,093)
204,108 59,790 (554,308)
536,422 16,809 (337,222)
195,139 57,841 (476,383)
458,402
1,646
(314,357)
123,067 12,989 129,563 6,858 106,661 12,912 123,137
6,858
23,822 86,224 (71,764)
(51,767)
39,419 70,357 (13,947)
(50,316)
Zakat paid
Income taxes paid
(139,700)
(3,226)
(1,370)
89,429 (3,361)
(2,796)
(106,487)
(3,414)
(1,276)
82,330
(2,820)
(2,500)
Net cash (used in)/generated from operating activities
(144,296)
83,272 (111,177)
77,010
Cash flows from investing activities
Purchase of property and equipment
Purchase of shares in subsidiary
Proceeds from sale of investment properties
Proceeds from sale of property and equipment
(4,845)
-
61,506 156 (15,652)
(247)
1,244 177 (4,152)
(21,825)
61,506 76 (14,635)
(34)
171
Net cash generated from/(used in) investing activities
56,817 (14,478)
35,605 (14,498)
Cash flows from financing activities
Proceeds from issuance of shares
Dividends paid to shareholders of the Company
1,490 (4,274)
6,328 (4,163)
1,490 (4,274)
6,328
(4,163)
Net cash (used in)/generated from financing activities
(2,784)
2,165 (2,784)
2,165
(90,263)
167,321 70,959 96,362 (78,356)
144,854 64,677
80,177
Cash and cash equivalents at the end of financial year
77,058 167,321 66,498 144,854
Cash and cash equivalents comprise:
Cash and bank balances
- Shareholders’ fund (Note 13)
- Family Takaful fund (Note 13)
- Investment-linked Takaful fund (Note 34)
- General Takaful fund (Note 13)
- Assets held for sale (Note 12)
7,596 53,258 7,278 8,926 -
9,743 106,916 9,933 40,277 452 6,473 47,982 6,357 5,686 -
8,297
95,405
6,289
34,863
-
77,058 167,321 66,498 144,854
Operating loss before working capital changes
Increase in Family Takaful Fund
Increase in General Takaful Fund
Increase in investments
Income from Islamic Debt Securities, Investment Accounts,
Islamic Accepted Bills and profit from
Malaysian Government Investment Certificates
Dividend income
Increase/(Decrease) in payables
(including claim admitted but not paid)
Decrease/(Increase) in receivables
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of financial year
The accompanying notes to the financial statements form an integral part of, and should be read in conjunction with, these financial statements.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
Syarikat Takaful Malaysia Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on
the Main Market of the Bursa Malaysia Securities Berhad. The address of its registered office and principal place of business of the
Company is located at:
26th Floor, Annex Block
Dataran Kewangan Darul Takaful
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
The consolidated financial statements of the Company as at and for the year ended 30 June 2009 comprise the Company and its
subsidiaries (together referred to as the Group). The financial statements of the Company as at and for the year ended 30 June 2009
do not include other entities.
The Company is principally engaged in managing family and general takaful businesses, whilst the principal activities of the
subsidiaries, are as stated in Note 6 to the financial statements. There has been no significant change in the nature of these activities
during the financial year.
The immediate and ultimate holding company is BIMB Holdings Berhad, a company incorporated in Malaysia and listed on the
Bursa Malaysia Securities Berhad.
The financial statements were approved by the Board of Directors on 16 September 2009.
1. Basis of preparation
(a) Statement of compliance
The financial statements of the Group and of the Company have been prepared in accordance with Financial Reporting
Standards (FRS) issued by the Malaysian Accounting Standards Board (MASB), accounting principles generally accepted
in Malaysia and the provisions of the Companies Act, 1965, the Takaful (Amendment) Act, 1984 and Takaful Guidelines/
Circulars issued by Bank Negara Malaysia. These financial statements also comply with the applicable disclosure provisions
of the Main Market Listing Requirements of the Bursa Malaysia Securities Berhad.
The Group and the Company have not applied the following accounting standards, amendments and interpretations
that have been issued by the Malaysian Accounting Standards Board (MASB) but are not yet effective to the Group and
Company:
FRSs / Interpretations
Amendments to FRS 1, First-time Adoption of Financial Reporting Standards and FRS 127,
Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary,
Jointly Controlled Entity or Associate
Amendments to FRS 2, Share-based Payment: Vesting Conditions and Cancellations FRS 4, Insurance Contracts FRS 7, Financial Instruments: Disclosures
FRS 8, Operating Segments FRS 123, Borrowing Costs FRS 139, Financial Instruments: Recognition and Measurement IC Interpretation 9, Reassessment of Embedded Derivatives
IC Interpretation 10, Interim Financial Reporting and Impairment IC Interpretation 11, FRS 2 - Group and Treasury Share Transactions
IC Interpretation 13, Customer Loyalty Programmes
IC Interpretation 14, FRS 119 – The Limit on a Defined Benefit Asset,
Minimum Funding Requirements and Their Interaction Effective date
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 July 2009
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
1 January 2010
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
1. Basis of preparation (Continued)
(a) Statement of compliance (continued)
The Group plans to apply FRS 8 from the annual period beginning on 1 July 2009. The Group and the Company plan to
apply the other standards, amendments and interpretations from the annual period beginning on 1 July 2010 except for
IC Interpretations 13 and 14 which are not applicable.
The impact of applying FRS 4, FRS 7 and FRS 139 on the financial statements upon first adoption as required by paragraph
30(b) of FRS 108, Accounting Policies, Changes in Accounting Estimates and Errors is not disclosed by virtue of the
exemption given in the respective FRSs. The initial application of the other standards, amendments and interpretations is
not expected to have any material impact on the financial statements or any material change in accounting policy except
as follows:
FRS 8, Operating Segments
FRS 8 will become effective for financial statements of the Group for the year ending 30 June 2010. FRS 8, which replaces
FRS 1142004, Segment Reporting, requires identification and reporting of operating segments based on internal reports that
are regularly reviewed by the chief operating decision maker of the Group in order to allocate resources to the segment
and to assess its performance. Currently, the Group presents segment information in respect of its geographical segments
(see Note 38). The adoption of FRS 8 will not have any significant impact on the financial statements of the Group other
than expanded disclosure requirements.
IC Interpretation 10, Interim Financial Reporting and Impairment
IC Interpretation 10 will become effective for the financial statements of the Group and the Company for the financial
year ending 30 June 2011. IC Interpretation 10 prohibits the reversal of an impairment loss that has been recognised in
an interim period during a financial year in respect of goodwill, an investment in an equity instrument or a financial asset
carried at cost. In accordance with the transitional provisions, the Group and the Company will apply IC Interpretation
10 to goodwill, investments in equity instruments, and financial assets carried at cost prospectively from the date the
Group and the Company first applied the measurement criteria of FRS 136, Impairment of Assets and FRS 139, Financial
Instruments: Recognition and Measurement respectively.
(b) Basis of measurement
The financial statements of the Group and of the Company have been prepared on the historical cost basis except as
disclosed in the notes to the financial statements.
(c) Functional and presentation currency
These financial statements are presented in Ringgit Malaysia (RM), which is the Company’s functional currency. All
financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated.
(d) Use of estimates and judgements
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect
the application of accounting policies and the reported amount of assets, liabilities, income and expenses. Actual result
may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimate is revised and in any future periods affected.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
1. Basis of preparation (Continued)
(d) Use of estimates and judgements (continued)
In particular, information about significant areas of estimation uncertainties and critical judgments in applying accounting
policies that have the most significant effect on the amounts recognised in the financial statements are described in the
following notes:
• Notes 2 (o) & 2 (p) & Note 18 – Provision for outstanding claims, Family takaful funds and actuarial reserves.
• Note 5 – Investment properties
2. Summary of significant accounting policies
The accounting policies set out below have been applied consistently to periods presented in these financial statements,
and have been applied consistently by Group entities, unless otherwise stated.
(a) Basis of consolidation
(i) Subsidiaries
Subsidiaries are entities, including unincorporated entities, controlled by the Group. Control exists when the Group
has the ability to exercise its power to govern the financial and operating policies of an entity so as to obtain benefits
from its activities. In assessing control, potential voting rights that presently are exercisable are taken into account.
Subsidiaries are consolidated using the purchase method of accounting.
Under the purchase method of accounting, the financial statements of subsidiaries are included in the consolidated
financial statements from the date that control commences until the date that control ceases.
For business combinations where the Group’s equity interest in a subsidiary company is increased by virtue of a
subscription to a higher proportion of the subsidiary company’s new issue of shares as compared to its existing equity
interest and where the share issue price is above or below the subsidiary company’s net asset value, the resultant
dilution or accretion of its share of net assets in the subsidiary company is recognised in equity.
Investments in subsidiaries are stated in the Company’s balance sheet at cost less any impairment losses, unless the
investment is classified as assets held for sale (or included in a disposal group that is classified as held for sale).
(ii) Associates
Associates are entities, including unincorporated entities, in which the Group has significant influence, but not
control, over the financial and operating policies.
Associates are accounted for in the consolidated financial statements using the equity method unless it is classified as
held for sale (or included in a disposal group that is classified as held for sale). The consolidated financial statements
include the Group’s share of the income and expenses of the equity accounted associates, after adjustments to align
the accounting policies with those of the Group, from the date that significant influence commences until the date
that significant influence ceases.
When the Group’s share of losses exceed its interest in an equity accounted associate, the carrying amount of that
interest (including any long-term investments) is reduced to nil and the recognition of further losses is discontinued
except to the extent that the Group has an obligation or has made payments on behalf of the investee.
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(a) Basis of consolidation (continued)
(iii) Transactions eliminated on consolidation
Intra-group balances and transactions, and any unrealised income and expenses arising from intra-group transactions,
are eliminated in preparing the consolidated financial statements.
Unrealised gains arising from transactions with equity accounted investees are eliminated against the investment to
the extent of the Group’s interest in the investee.
Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence
of impairment.
(iv) Minority interest
Minority interest at the balance sheet date, being the portion of the net identifiable assets of subsidiaries attributable
to equity interests that are not owned by the Company, whether directly or indirectly through subsidiaries, are
presented in the consolidated balance sheet and statement of changes in equity within equity, separately from equity
attributable to the equity holders of the Company. Minority interest in the results of the Group are presented on the
face of the consolidated income statement as an allocation of the total profit or loss for the year between minority
interest and the equity holders of the Company.
Where losses applicable to the minority exceed the minority’s interest in the equity of a subsidiary, the excess, and
any further losses applicable to the minority, are charged against the Group’s interest except to the extent that the
minority has a binding obligation to, and is able to, make additional investment to cover the losses. If the subsidiary
subsequently reports profits, the Group’s interest is allocated with all such profits until the minority’s share of losses
previously absorbed by the Group has been recovered.
(b) Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated to the respective functional currencies of the Group entities at
exchange rates at the dates of the transactions.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the
functional currency at the exchange rate at that date. Non-monetary assets and liabilities denominated in foreign
currencies are translated at exchange rates at the dates of the transactions except for those that are measured at
fair value, which are retranslated to the functional currency at the exchange rate at the date that the fair value was
determined. Foreign currency differences arising on retranslation are recognised in the income statements.
(ii) Operations denominated in functional currencies other than Ringgit Malaysia
The assets and liabilities of operations in functional currencies other than RM, including goodwill and fair value
adjustments arising from business combinations, are translated to RM at exchange rates at the balance sheet date,
except for goodwill and fair value adjustments arising from business combinations before 1 January 2006 which
are reported using the exchange rates at the dates of the acquisitions. The income and expenses of operations in
functional currencies other than RM, are translated to RM at exchange rates at the dates of the transactions.
Foreign currency differences are recognised in translation reserve. On disposal of such operations, the accumulated
translation differences are recognised in the consolidated income statement as part of the gain or loss on sale.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(b) Foreign currency (continued)
(iii) Net investment in foreign operations
Exchange differences arising from monetary items that in substance form part of the Company’s net investment in
foreign operations, are recognised in the Company’s income statement. Such exchange differences are reclassified
to equity in the consolidated financial statements. Deferred exchange differences are recognised in the consolidated
income statement upon disposal of the investment.
(c) Property and equipment
(i) Recognition and measurement
Freehold land is stated at cost. All other property and equipment are stated at cost less accumulated depreciation and
accumulated impairment losses, if any.
Cost includes expenditures that are directly attributable to the acquisition of the asset and any other costs directly
attributable to bringing the assets to working condition for its intended use and the costs of dismantling and removing
the items and restoring the site on which they are located. Purchased software that is integral to the functionality of
the related equipment is capitalised as part of that equipment.
When significant parts of an item of property and equipment have different useful lives, they are accounted for as
separate items (major components) of property and equipment.
Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds from
disposal with carrying amount of property and equipment and are recognised at net within “other operating income”
or “other operating expenses” respectively in the income statements/revenue accounts.
(ii) Subsequent costs
The cost of replacing part of an item of property and equipment is recognised in the carrying amount of the item if
it is probable that the future economic benefits embodied within the part will flow to the Group and the Company
and its cost can be measured reliably. The carrying amount of those parts that are replaced is derecognised. The costs
of the day-to-day servicing of property and equipment are recognised in the income statements/revenue accounts as
incurred.
(iii) Depreciation
Depreciation is recognised in the income statements/revenue accounts on a straight-line basis over the estimated
useful lives of each part of an item of property, plant and equipment. Leased assets are depreciated over the shorter
of the lease term and their useful lives unless it is reasonably certain that the Group will obtain ownership by the
end of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not
depreciated until the assets are ready for their intended use.
89
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(c) Property and equipment (continued)
(iii) Depreciation (continued)
The estimated annual depreciation rates for the current and comparative periods are as follows:
Buildings
Renovation
Furniture, fixtures and fittings Motor vehicles Computer and equipment 2%
16.7%
16.7% - 20%
20%
16.7% - 33.3%
The depreciable amount is determined after deducting the residual value.
Depreciation methods, residual values and useful lives are reassessed at the balance sheet date.
(d) Leased assets
(i) Finance lease
Leases in terms of which the Group or the Company assume substantially all the risks and rewards of ownership are
classified as finance leases. Upon initial recognition, the leased asset is measured at an amount equal to the lower
of its fair value and the present value of the minimum lease payments. Subsequent to initial recognition, the asset is
accounted for in accordance with the accounting policy applicable to that asset.
Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction
of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a
constant periodic rate of interest on the remaining balance of the liability. Contingent lease payments are accounted
for by revising the minimum lease payments over the remaining term of the lease when the lease adjustment is
confirmed.
(ii) Operating lease
Leases, where the Group or the Company does not assume substantially all the risks and rewards of the ownership
are classified as operating leases and, except for property interest held under operating lease, the leased assets
are not recognised on the Group or the Company’s balance sheet. Property interest held under an operating
lease, which is held to earn rental income or for capital appreciation or both, is classified as investment property.
Leasehold land that normally has an indefinite economic life and title is not expected to pass to the lessee by the end
of the lease term is treated as an operating lease. The payment made on entering into or acquiring a leasehold land is
accounted for as prepaid lease payments, except for leasehold land classified as investment property.
Payments made under operating leases are recognised in the income statements on a straight-line basis over the term
of the lease. Lease incentives received are recognised as an integral part of the total lease expense, over the term of
the lease.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(e) Investments
Investments are recognised initially at purchase price plus attributable transaction costs.
Subsequent to initial recognition:
•
Investments in Government Islamic Papers (Government Investment Issues and other Islamic instruments issued by
the Government or Bank Negara Malaysia (“BNM”)), Malaysian Government Securities, Islamic debt securities and
other investments as specified by BNM and held to maturity are stated at cost adjusted for amortisation of premiums
or accretion of discounts, calculated on a constant yield basis, from the date of purchase to maturity date. The
amortisation of premiums and accretion of discounts are recognised in the revenue accounts / income statements.
•
Quoted investments are stated at the lower of cost and market value determined on an aggregate portfolio basis by
category of investments except that if diminution in value of a particular investment is not regarded as temporary,
provision is made against the value of that quoted investments.
•
All other unquoted investments are stated at the lower of cost and net realisable value.
•
Investments in quoted shares, unit trusts, and securities of investment-linked takaful funds are stated at the closing
market prices.
•
Unquoted Islamic debts securities and investment in commodity, equity and fixed income closed end fund of the
investment-linked takaful funds are stated at the prevailing prices quoted by independent financial institutions.
Any increase or decrease in value of these investments is taken into the investment-linked takaful business revenue
accounts.
Allowance for diminution in value of investments are charged directly to the revenue account of the takaful funds and to
the income statements. Subsequent increase in market value of the quoted investments are treated as a write back of the
previous allowance for diminution in value of investments to the extent of the carrying amount of the quoted investments
that would have been determined had no diminution in value had been recognised.
On disposal of an investment, the difference between net disposal proceeds and its carrying amount is recognised in the
revenue accounts / income statements.
All investments in debt and equity securities are accounted for using settlement date accounting. Settlement date
accounting refers to:
(a) the recognition of an asset on the day it is received by the entity, and
(b) the derecognition on an asset and recognition of any gain or loss on disposal on the date it is delivered.
(f) Investment properties
Investment properties are properties which are owned or held under a leasehold interest to earn rental income or for
capital appreciation or for both. These include land held for a currently undetermined future use. Investment properties are initially stated at cost, including related and incidental expenditure incurred and are measured
subsequently at fair value with any change therein recognised in the income statements / revenue accounts.
External independent valuation companies, having the appropriate recognised professional qualifications, values the
Group’s investment properties on an annual basis. The fair values are based on market value, being the estimated amount
for which a property could be exchanged between a willing buyer and a willing seller in an arm’s length transaction.
Investment properties are not depreciated. On disposal of investment properties, the difference between the net proceeds
and the carrying amounts are recognised in the income statements / revenue accounts as appropriate.
91
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(g) Financing receivables
Financing receivables are initially recognised at their cost when the contractual right to receive cash or another financial
asset from another entity is established. Financing receivables are not held for the purpose of trading.
Subsequent to initial recognition, receivables are stated at cost less allowance for doubtful debts.
Known bad debts are written off and specific provisions is made for any financing, which remains outstanding for more
than six months from the date on which they became payable, and for all debts which are considered doubtful.
(h) Receivables
Receivables are initially recognised at their cost when the contractual right to receive cash or another financial asset from
another entity is established. Receivables are not held for the purpose of trading.
Subsequent to initial recognition, receivables are stated at cost less allowance for doubtful debts.
Known bad debts are written off and specific allowance for doubtful debts is made as follows:
(a) Motor contributions which remain outstanding for more than 30 days.
(b) Non-motor contributions including agents and reinsurance balances, which remain outstanding for more than six
months.
(i) Non-current assets held for sale
Non-current assets (or disposal groups comprising assets and liabilities) that are expected to be recovered primarily
through sale rather than through continuing use are classified as held for sale. Immediately before classification as held for
sale, the assets (or components of a disposal group) are remeasured in accordance with the Group’s accounting policies.
Thereafter, generally the assets (or disposal group) are measured at the lower of their carrying amount and fair value
less cost to sell. Any impairment loss on a disposal group is first allocated to goodwill, and then to the remaining assets
and liabilities on a pro rata basis, except that no loss is allocated to financial assets, deferred tax assets and investment
property, which continue to be measured in accordance with the Group’s accounting policies. Impairment losses on initial
classification as held for sale and subsequent gains or losses on remeasurement are recognised in the income statements
/revenue accounts. Gains are not recognised in excess of any cumulative impairment loss.
(j) Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, balances and deposits with banks and highly liquid investments which
have an insignificant risk of changes in value.
(k) Impairment of assets
The carrying amounts of assets, except for financial assets (other than investments in subsidiaries and associates) and
deferred tax assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any
such indication exists, then the asset’s recoverable amount is estimated.
An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its recoverable
amount. Impairment losses are recognised in the income statements/revenue accounts. Impairment losses recognised in
respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the units and
then to reduce the carrying amount of the other assets in the unit (group of units) on a pro rata basis.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(k) Impairment of assets (continued)
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs
to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the
purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows
from continuing use that largely independent of the cash inflows of other assets or group of assets (the “cash generating
unit”).
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in
prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An
impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that
would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. Reversal of
impairment loss is credited to the income statements / revenue accounts in the year in which the reversal is recognised.
(l) Employee benefits
Short-term employee benefits
Short-term employee benefit obligations in respect of salaries, annual bonuses, paid annual leave and sick leave are
measured on an undiscounted basis and are expensed as the related service is provided.
A provision is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans if
the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the
employee and the obligation can be estimated reliably.
The Group’s contribution to the statutory pension fund is charged to the income statement in the year to which they relate.
Once the contributions have been paid, the Group has no further payment obligations.
(m) Provisions
A provision is recognised if, as a result of a past event, the Group and the Company has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability.
Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated
reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is
remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence of one or
more future events are also disclosed as contingent liabilities unless the probability of outflow of economic benefits is
remote. Contingent liabilities do not include liabilities arising from contracts of takaful underwritten in the ordinary
course of business of the Group and the Company.
(n) Payables
Payables are measured initially and subsequently at cost. Payables are recognised when there is a contractual obligation
to deliver cash or another financial asset to another entity.
93
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(o) General takaful fund
The general takaful fund is maintained in accordance with the Takaful Act, 1984 (amendment). Included in general takaful
fund is fund arising from:
• General takaful;
• Asean Takaful Group (ATG) retakaful pool; and
• General retakaful funds.
The general takaful underwriting results are determined for each class of takaful businesses after taking into account
retakaful, unearned contributions, claims incurred and management expenses.
Contribution income
Contributions are recognised in a financial period in respect of risks assumed during that particular financial period based
on the inception date. Inward treaty retakaful contributions are recognised on the basis of periodic advices received from
ceding takaful operators.
Unearned contribution reserves
The Unearned Contribution Reserves (“UCR”) represent the portion of the net contributions of takaful certificates written
that relate to the unexpired periods of the certificates at the end of the financial year.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned contributions
is used, as follows:
(a) 1/365th method for all General Takaful business within Malaysia.
(b) 1/8th method for all classes of General Treaty Inward Retakaful business.
Provision for outstanding claims
A liability for outstanding claims is recognised in respect of direct takaful business. The amount of outstanding claims is
the best estimate of the expenditure required together with related expenses less recoveries, if any, to settle the present
obligation at the balance sheet date. Any difference between the current estimated cost and subsequent settlement is dealt
with in the takaful revenue accounts for the Group and the Company in the year in which the settlement takes place.
Provision is also made for the cost of claims, together with related expenses, incurred but not reported (“IBNR”) at balance
sheet date, using a mathematical method of estimation by a qualified external actuary where historical claims experience
are used to project future claims. As with all projections, there are elements of uncertainty and the projected claims may
be different from actual. These uncertainties arise from changes in underlying risk, changes in spread of risks, claims
settlement pattern as well as uncertainties in the projection model and underlying assumptions. (p) Family takaful fund
Included in family takaful fund is fund arising from:-
• Family takaful;
• Group family takaful; and • Family retakaful funds.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(p) Family takaful fund (continued)
The family takaful fund is maintained in accordance with the requirements of the Takaful (Amendment) Act, 1984 and
includes the amounts attributable to participants which represents the participants’ share of the underwriting surplus and
return on the investments, where applicable and are distributable in accordance with the terms and conditions prescribed
by the Group and the Company.
The surplus transfer from the family takaful fund to the income statements is based on the predetermined profit sharing
ratio of the underwriting surplus and return on investments.
Contribution income
Contribution is recognised as soon as the amount of the contribution can be reliably measured. Initial contribution is
recognized from inception date and subsequent contribution is recognised when it is due. For Individual family takaful
contribution, recognition is up to the extent of one due amount.
At the end of each financial period, all due contributions are accounted for to the extent that they can be reliably
measured.
Investment-linked takaful business
Investments of investment-linked takaful business are stated at closing market prices. Any increase or decrease in value of
these investments is taken into the investment-linked takaful business revenue accounts.
Actuarial reserves
Actuarial reserves comprise the unearned contribution reserves and the reserve computed under the net contribution
valuation as explained below :
(i) Unearned contribution reserve
The Unearned Contribution Reserve (“UCR”) of group family fund (except for Mortgage Reducing Term Takaful
(“MRTT”) as detailed below) and family retakaful fund represents the portion of the net contributions of takaful
certificates written that relate to the unexpired periods of the certificates at the end of the financial year.
In determining the UCR at balance sheet date, the method that most accurately reflects the actual unearned
contributions is used, as follows:
(a) 1/365th method for all group family takaful business within Malaysia.
(b) A pro-rata basis based on a time apportionment method for family retakaful business.
(ii) Net contribution valuation
The actuarial liabilities for MRTT products managed under group family fund and Participants’ Special Account
(“PSA”) are calculated using the net contribution method of valuation (“NCV”). The liabilities are ascertained by
deducting the present value of future net contribution from the present value of the future amount-at-risk. As with all
projections, there are elements of uncertainty and the projected liability may be different from actual.
These uncertainties arise from changes in underlying risks, changes in spread of risks, claims settlement pattern as
well as uncertainties in the projection model and underlying assumptions. 95
96
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(p) Family takaful fund (continued)
Provision for outstanding claims
Claims and settlement costs that are incurred during the financial year are recognised when a claimable event occurs and/
or the Group or the Company is notified.
Claims and provisions for claims arising on family and group family takaful certificates, including settlement costs, are
accounted for using the case basis method and for this purpose, the benefits payable under a family takaful certificate are
recognised as follows:
(a) maturity or other policy benefit payments due on specified dates are accounted for as claims payable on the due
dates.
(b) death, surrender and other benefits without due dates are treated as claims payable on the date of receipts of intimation
of death of the participant or occurrence of contingency covered.
(c) for group health business, provision is made for the cost of claims, together with related expenses, incurred but
not reported (“IBNR”) at balance sheet date, using a mathematical method of estimation by a qualified actuary
where historical claims experience are used to project future claims. As with all projections, there are elements of
uncertainty and the projected claim may be different from actual.
These uncertainties arise from changes in underlying risk, changes in spread of risks, claim settlement pattern as well
as uncertainties in the projection model and underlying assumptions.
(q) Other revenue recognition
Income from financing are recognised on an accrual basis, except where financing is considered non-performing, i.e.
where repayments are in arrears for more than six months, in which case recognition of such income is suspended.
Subsequent to suspension, income is recognised on the receipt basis until all arrears have been paid.
Income is recognised on a time proportion basis that takes into account the effective yield of the asset.
Wakalah fees are recognised as income or expenses by the respective funds based on a predetermined percentage of
gross contributions upon inception of certificates. Wakalah surplus/(deficit) is arrived at after deducting commission and
management expenses against the Wakalah fees charged.
Rental is recognised on an accrual basis except where default in payment of rent has already occurred and rent dues remain
outstanding for over six months, in which case recognition of rental income is suspended. Subsequent to suspension,
income is recognised on the receipt basis until all arrears have been paid.
Dividend is recognised when the right to receive payment is established.
(r) Zakat
This represents tithes payable by the Company to comply with the Principles of Shariah and as approved by the Shariah
Advisory Body.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
2. Summary of significant accounting policies (Continued)
(s) Tax expense
Tax expense comprises current and deferred tax. Tax expense is recognised in the income statement except to the extent
that it relates to items recognised directly in equity, in which case it is recognised in equity.
Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially enacted
at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Deferred tax is recognised using the balance sheet method, providing for temporary differences between the carrying
amounts of assets and liabilities for reporting purposes and the amounts used for taxation purposes. Deferred tax is not
recognised for temporary differences in relation to the initial recognition of goodwill, the initial recognition of assets or
liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit / loss.
Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse,
based on the laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax liability is recognised for all taxable temporary differences.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against which
temporary difference can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realised.
Additional taxes that arise from the distribution of dividends are recognised at the same time as the liability to pay the
related dividend is recognised.
(t) Operating lease payments
The Group recognises its Ijarah financing obligations as operating leases. Lease payments under the operating lease are
recognised as an expense in the income statement on a straight-line basis over the lease term. (u) Earnings per share
The Group presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic EPS is calculated
by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of
ordinary shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted average
number of ordinary shares outstanding for the effects of all dilutive potential ordinary shares, which comprise share
options granted to employees.
(v) Segment reporting A segment is a distinguishable component of the Group that is engaged either in providing products or services (business
segment), or in providing products or services within a particular economic environment (geographical segment), which
is subject to risks and rewards that are different from those of other segments.
97
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment
(a) Shareholders’ Fund
Renovation
Group
Freehold and building
Motor
Land
Buildings
in progress
vehicles
Cost
RM’000
RM’000
RM’000
RM’000
Office
equipment,
furniture,
fixtures and
fittings
RM’000
Total
RM’000
As at 1 July 2008
Additions
Disposals
Write off of assets
Reclassified from assets
held for sale (Note 12)
Reclassified as assets held
for sale (Note 12)
Reclassification
Translation difference
1,841 -
-
-
9,327 165 -
-
10,895 -
-
-
1,729 -
(208)
(165)
85,261 4,680 (216)
(10,702)
109,053
4,845
(424)
(10,867)
-
-
-
59 1,595 1,654
(181)
-
-
(762) (699) (136) -
(10,895)
-
-
3
(30)
-
10,762 (105)
(943)
(829)
(271)
1,660 7,895 -
1,388 91,275 102,218
-
-
-
-
2,065 311 -
-
-
-
-
-
943 301 (168)
(171)
63,808 9,955 (161)
(7,699)
66,816
10,567
(329)
(7,870)
At 30 June 2009
Accumulated depreciation
As at 1 July 2008
Charge for the year
Disposals
Write off of assets
Reclassified from assets
held for sale (Note 12)
Reclassified as assets
held for sale (Note 12)
Reclassification
Translation difference
-
-
-
58 1,386 1,444
-
-
-
(362)
(488)
(38)
-
-
-
-
(40)
(8)
-
104 (34)
(362)
(424)
(80)
At 30 June 2009
-
1,488 -
915 67,359 69,762
Net book value
At 30 June 2009
1,660 6,407 - 473 23,916 32,456
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(a) Shareholders’ Fund (continued)
Renovation
Group
Freehold and building
Motor
Land
Buildings
in progress
vehicles
Cost
RM’000
RM’000
RM’000
RM’000
Office
equipment,
furniture,
fixtures and
fittings
RM’000
Total
RM’000
At 1 July 2007
Additions
Disposals
Write off of assets
Reclassified as assets
held for sale (Note 12)
Reclassification
Translation difference
1,841 -
-
-
9,176 266 -
-
11,342 217 -
-
2,539 10 (682)
-
77,655 15,071 -
(5,999)
102,553
15,564
(682)
(5,999)
-
-
-
-
(244)
129 (664)
-
-
(62)
-
(76)
(992)
107 (581)
(1,718)
(137)
(528)
At 30 June 2008
1,841 9,327 10,895 1,729 85,261 109,053
Accumulated depreciation
At 1 July 2007
Charge for the year
Disposals
Write off of assets
Reclassified as assets
held for sale (Note 12)
Reclassification
Translation difference
-
-
-
-
1,689 420 -
-
436 -
-
-
1,394 242 (531)
-
49,706 16,909 -
(1,451)
53,225
17,571
(531)
(1,451)
-
-
-
-
-
(44)
(436)
-
-
(62)
(63)
(37)
(880)
(55)
(421)
(1,378)
(118)
(502)
At 30 June 2008
-
2,065 -
943 63,808 66,816
Net book value
At 30 June 2008
1,841 7,262 10,895 786 21,453 42,237
99
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(a) Shareholders’ Fund (continued)
Renovation
Company
Freehold and building
Motor
Land
Buildings
in progress
vehicles
Cost
RM’000
RM’000
RM’000
RM’000
Office
equipment,
furniture,
fixtures and
fittings
RM’000
Total
RM’000
As at 1 July 2008
Additions
Disposals
Reclassified as assets
held for sale (Note 12)
Write off of assets
Reclassification
1,841 -
-
4,179 -
-
10,895 -
-
716 -
(104)
76,703 4,152 (139)
94,334
4,152
(243)
(181)
-
-
(762)
-
-
-
-
(10,895)
-
(165)
-
-
(10,702)
10,895 (943)
(10,867)
-
1,660 3,417 -
447 80,909 86,433
At 30 June 2009
Accumulated depreciation
As at 1 July 2008
Charge for the year
Disposals
Reclassified as assets
held for sale (Note 12)
Write off of assets
-
-
-
1,150 83 -
-
-
-
413 100 (74)
57,294 8,950 (119)
58,857
9,133
(193)
-
-
(362)
-
-
-
-
(171)
-
(7,699)
(362)
(7,870)
At 30 June 2009
-
871 -
268 58,426 59,565
Net book value
At 30 June 2009
1,660 2,546 - 179 22,483 26,868
Cost
At 1 July 2007
Additions
Disposals
Write off of assets
1,841 -
-
-
4,179 -
-
-
10,678 217 -
-
1,386 -
(670)
-
68,370 14,332 -
(5,999)
86,454
14,549
(670)
(5,999)
At 30 June 2008
1,841 4,179 10,895 716 76,703 94,334
At 1 July 2007
Charge for the year
Disposals
Write off of assets
-
-
-
-
1,066 84 -
-
-
-
-
-
800 138 (525)
-
42,810 15,935 -
(1,451)
44,676
16,157
(525)
(1,451)
At 30 June 2008
-
1,150 -
413 57,294 58,857
Net book value
At 30 June 2008
1,841 3,029 10,895 303 19,409 35,477
Accumulated depreciation
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(b) Family Takaful Fund
Office equipment,
Group
furniture, fixtures
and fittings
Cost
RM’000
At 1 July 2008
1,584 Write off of assets
(1,584)
1,584
(1,584)
At 30 June 2009
Accumulated depreciation
At 30 June 2009
- -
Net book value
At 30 June 2009
- -
At 1 July 2008
Charge for the year
Write off of assets
Renovation
and
Group
building
in progress
Cost
RM’000
- Total
RM’000
1,323 261 (1,584)
-
1,323
261
(1,584)
Office
equipment,
furniture,
fixtures
and fittings
RM’000
Total
RM’000
At 1 July 2007
Additions
Transfer to investment properties (Note 5)
Write off of assets
1,418 -
(1,349)
(69)
1,496 88 -
-
2,914
88
(1,349)
(69)
At 30 June 2008
-
1,584 1,584
At 1 July 2007
Charge for the year
-
-
1,269
54
1,269
54
At 30 June 2008
-
1,323
1,323
Net book value
At 30 June 2008
-
261 261
Accumulated depreciation
101
102
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(b) Family Takaful Fund (continued)
Office equipment,
Company
furniture, fixtures
and fittings
Cost
RM’000
Total
RM’000
At 1 July 2008
Write off of assets
1,582 (1,582)
1,582
(1,582)
At 30 June 2009
-
-
At 1 July 2008
Charge for the year
Write off of assets
1,321 261 (1,582)
1,321
261
(1,582)
At 30 June 2009
-
-
Net book value
At 30 June 2009
-
-
Renovation
and
Company
building
in progress
Cost
RM’000
Office
equipment,
furniture,
fixtures
and fittings
RM’000
Total
RM’000
Accumulated depreciation
At 1 July 2007
Additions
Transfer to investment properties (Note 5)
Write off of assets
1,415 - (1,349)
(66)
1,496 86 - - 2,911
86
(1,349)
(66)
At 30 June 2008
- 1,582 1,582
Accumulated depreciation
At 1 July 2007
Charge for the year
- - 1,266 55 1,266
55
At 30 June 2008
- 1,321 1,321
Net book value
At 30 June 2008
- 261 261
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(c) General Takaful Fund
Office equipment,
Group
furniture, fixtures
and fittings
Cost
RM’000
At 1 July 2008
Write off of assets
At 30 June 2009
557 (557)
- Total
RM’000
557
(557)
-
Accumulated depreciation
At 1 July 2008
Charge for the year
Write off of assets
551 6
(557)
551
6
(557)
At 30 June 2009
- -
Net book value
At 30 June 2009
- -
Office
equipment,
furniture,
fixtures
and fittings
RM’000
Total
RM’000
4,908 (4,351)
5,490
(4,933)
- 557 557
At 1 July 2007
Charge for the year
Write off of assets
582 - (582)
4,901 1
(4,351)
5,483
1
(4,933)
At 30 June 2008
- 551 551
Net book value
At 30 June 2008
- 6
6
Renovation
and
Group
building
in progress
Cost
RM’000
At 1 July 2007
Write off of assets
At 30 June 2008
582 (582)
Accumulated depreciation
103
104
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
3
Property and equipment (Continued)
(c) General Takaful Fund (continued)
Office equipment,
Company
furniture, fixtures
and fittings
Cost
RM’000
At 1 July 2008
Write off of assets
At 30 June 2009
557 (557)
- Total
RM’000
557
(557)
-
Accumulated depreciation
At 1 July 2008
Charge for the year
Write off of assets
551 6
(557)
551
6
(557)
At 30 June 2009
- -
Net book value
At 30 June 2009
-
-
Cost
At 1 July 2007/At 30 June 2008
557
557
At 1 July 2007
Charge for the year
550 1
550
1
At 30 June 2008
551 551
Net book value
At 30 June 2008
6
6
Accumulated depreciation
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
4
Prepaid lease payments
Shareholder’s Fund
Cost
At 1 July 2007
Additions
Translation difference
Group
Unexpired
period
less than
50 years
RM’000
Company
Unexpired
period
more than
50 years
Total
RM’000
RM’000
Unexpired
period
less than
50 years
RM’000
Unexpired
period
more than
50 years
Total
RM’000
RM’000
2,800 -
(196)
1,616 -
-
4,416 -
(196)
-
-
-
1,616 -
-
1,616
-
At 30 June 2008/ 1 July 2008
Translation difference
2,604 (112)
1,616 -
4,220 (112)
-
-
1,616 -
1,616
-
At 30 June 2009
2,492
1,616 4,108
-
1,616 1,616
Amortisation
At 1 July 2007
Amortisation for the year
Translation difference
277 -
(20)
314 31 -
591 31 (20)
-
-
-
314 31 -
314
31
-
At 30 June 2008/ 1 July 2008
Amortisation for the year
Translation difference
257 220
(35)
345 30
-
602 250
(35)
-
-
-
345 30
-
345
30
-
At 30 June 2009
442
375
817
-
375
375
Carrying amounts
At 1 July 2007
2,523 1,302 3,825 -
1,302 1,302
At 30 June 2008/ 1 July 2008
2,347 1,271 3,618 -
1,271 1,271
At 30 June 2009
2,050
1,241
3,291
- 1,241
1,241
105
106
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
5
Investment properties
Group
Shareholders’ Fund
2009
2008
RM’000
RM’000
Family Takaful
2009
2008
RM’000
RM’000
General Takaful
2009
2008
RM’000
RM’000
At 1 July 2008/2007
26,369 - Additions
-
- Disposals
(14,190)
- Fair value gain for the year - net
121 - Reclassified as assets
held for sale (Note 12)
(890)
- Transfer to Family
Takaful Fund
(228)
- Reclassified from property
and equipment (Note 3)
-
- Translation difference
(26)
24,574 213 (518)
2,162 219,552 -
(30,012)
16,200 208,316 -
(424)
10,658 43,052 -
(15,798)
1,700 40,376
34
(216)
2,869
-
(800)
-
-
-
-
228 -
-
-
-
(62)
-
(185)
1,349 (347)
-
-
(11)
11,156 26,369 204,983 219,552 28,954 43,052
3,230 984 9,452 10,232 66,817 114,851 65,539 124,124 5,240 12,113 10,767
21,045
1,150 1,150 8,210 8,829 1,940 2,134
5,655 5,535 12,305 12,981 3,060 3,106
137 -
1,692 3,663 1,770 1,540
-
-
1,108 4,416 4,831 4,460
11,156 26,369 204,983 219,552 28,954 43,052
At 30 June 2009/2008
Comprising of:
Freehold land Freehold building
Leasehold land
more than 50 years
Leasehold building
more than 50 years
Leasehold land
less than 50 years
Leasehold building
less than 50 years
The following are amounts arising from investment properties that have been recognised in the income statement / revenue
accounts during the financial year. Rental income
2,063 2,263 9,217 16,454 1,759 2,941
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
5
Investment properties (Continued)
Company
Shareholders’ Fund
2009
2008
RM’000
RM’000
Family Takaful
2009
2008
RM’000
RM’000
General Takaful
2009
2008
RM’000
RM’000
At 1 July 2008/2007
25,825 - Additions
- - Disposals
(14,190)
- Reclassified as assets
held for sale (Note 12)
(890)
- Fair value gain for the year - net
120 - Transfer from property
and equipment (Note 3)
- 23,667 - - 211,453 -
(30,012)
199,446 - - 43,052 - (15,798)
40,149
34
-
- 2,158 (800)
15,456 - 10,658 - 1,700 2,869
10,865 25,825 196,097 211,453 28,954 43,052
3,230 830 9,452 9,688 64,902 107,880 65,539 121,303 5,240 12,113 10,767
21,045
1,150 1,150 8,210 8,829 1,940 2,134
5,655 5,535 12,305 12,981 3,060 3,106
At 30 June 2009/2008
Comprising of:
Freehold land Freehold building
Leasehold land
more than 50 years
Leasehold building
more than 50 years
Leasehold land
less than 50 years
Leasehold building
less than 50 years
- - 1,349 - -
- - 1,692 1,692 1,770 1,540
- - 1,108 1,109 4,831 4,460
196,097 211,453 28,954 43,052
10,865 25,825 The following are amounts arising from investment properties that have been recognised in the income statement / revenue
accounts during the financial year.
Rental income
2,058 2,244 8,618 15,775 1,759 2,941
The Group’s properties were valued by independent firms of professional valuer, using the comparison, cost and investment
methods of valuations, where applicable.
In the comparison method approach, the sales and listings of comparable properties of within nearby locations are compiled.
From the compiled data, adjustments are made between the subject property and those of similar properties.
The adjustments made are in relation to location, size and shape of the lot, physical features, legal and legislative constraints,
building design and condition, time element, planning provision, improvements and renovation works made, if any, surrounding
developments, facilities and amenities available and other factors that may affect the value of the subject property. These
adjustments are therefore subject to uncertainties such as property market outlook, potential increases in rental rates and
general economic conditions.
In the cost method approach, the indication of values consists of the sum of the present worth of the improvement value.
107
108
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
5
Investment properties (Continued)
For the valuation of the improvements, the valuers have considered the followings:i. Cost of replacement of the building in accordance with current trend of market prices for materials, labour, contractor’s
overhead, profit and fees;
ii. Accrued depreciation as evidenced by the observed condition and present and prospective serviceability in comparison
with new units of like kind; and;
iii. Extent, character and utility of the property.
The investment method is the capitalisation of net rent from a property. Net rent is the residue of gross annual rent less annual
expenses (outgoings) required to sustain the rent with allowance for void and management fees. The range of yield applied to
the net annual rentals to determine fair value of the property is between 6% to 7%.
The external valuer has considered the results of all these three methods in their valuation and applied professional judgement
in the selection of the fair value of these investment properties.
6
Investment in subsidiaries
Company
Unquoted shares, at cost
Opening balance
Increase in investment cost of existing subsidiary
Reclassified from/(to) assets held for sale (Note 12)
Closing balance
Shareholders’ Fund
2009
2008
RM’000
RM’000
27,550 21,825 22,872 58,935
(31,385)
72,247 27,550
The principal activities of the subsidiaries, their country of incorporation and the interest of Syarikat Takaful Malaysia Berhad
are as follows:
Country of
Effective
Name of companies
Principal activities
incorporation
interests
2009
2008
%
%
Asean Retakaful International
Family and general
(L) Ltd. (“ARIL”)** retakaful business
Malaysia
63.09
63.09
P.T. Syarikat Takaful Indonesia
and its subsidiaries*
Investment holding
Indonesia
56.00
56.00
P.T. Asuransi Takaful Umum*
General takaful business
Indonesia
64.70
56.00
P.T. Asuransi Takaful Keluarga*
Family takaful business
Indonesia
74.78
56.00
* Not audited by KPMG Desa Megat & Co
**Audited by a firm affiliated with KPMG Desa Megat & Co
During the year, the investment in ARIL has been reclassified from assets held for sale (see Note 12) as it no longer met the
criteria.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
7
Investment in associates
Investment in associate company amounting RM2,473,000 (2008: RM2,473,000) was fully written down during the financial
year ended 30 June 2007.
8
Investments
(a) Shareholders’ Fund
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
23,964 24,355
- Outside Malaysia
44 2,001
Allowance for diminution
(1,502)
22,506 30,445 3,043 (969)
3,248
-
32,519 3,248 Unit trusts
- In Malaysia
- Outside Malaysia
Allowance for diminution
Unquoted:
Shares
- In Malaysia
- Outside Malaysia
22,506 32,445 26,356 27,156
3,375
380 47 380
-
427 380
70,718 (179)
8,597
-
70,539 70,214 8,597 8,347
Investment in investment-linked takaful funds
29,954 30,246 18,212 20,824
Deposits and money market placement with:
Licensed banks
- Local
- Foreign
93,499 18,540 64,538
15,974
112,039 80,512
Total investments
267,984 137,305
Investments maturing more than twelve months
49,283 13,841
Islamic debt securities Amortisation of premiums
109
110
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(a) Shareholders’ Fund (continued)
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
23,964 24,355
Allowance for diminution
(1,497)
22,467 22,467 24,355 25,155
Unit Trusts
30,445 30,371 -
-
Unquoted:
Shares
- In Malaysia
Islamic debt securities Amortisation of premiums
380 380
40,809 (179)
5,613
-
40,630 40,305 5,613 5,363
Investment in investment-linked takaful funds
29,954 30,246 18,164 20,776
Deposits and money market placement with:
Licensed banks 78,477 64,538
Total investments
202,353 113,050
40,830 5,813
Investments maturing more than twelve months
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(b) Family Takaful Fund
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
148,792 114,910
- Outside Malaysia
1 3
Allowance for diminution
(23,808)
(12,510)
124,985 125,468 102,403 164,629 (6,645)
68,646
(533)
157,984 68,113 511,875 8,347 (226)
411,607
-
519,996 411,607 Unit trusts
Allowance for diminution
Unquoted:
Malaysian Government Islamic papers
Accretion of discounts
Allowance for diminution
Shares
- In Malaysia
Islamic debt securities Accretion of discounts Allowance for diminution
Deposits and money market placement with:
Licensed banks - Local
- Foreign
157,990 518,220 34 -
1,400,122 6,939 (393)
1,149,136
(1,725)
1,406,668 1,147,411 1,431,878 535,983 39,979 695,023
42,351
575,962 737,374
2,466,908
Total investments
2,785,629 Investments maturing more than twelve months
1,963,654 1,567,315
102,403
70,571
394,998
1,092,502
111
112
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(b) Family Takaful Fund (continued)
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
148,792 114,910
Allowance for diminution
(23,808)
(12,510)
124,984 125,467 102,400 130,979 (88)
48,750
(533)
130,891 48,217 Unit trusts
Allowance for diminution
Unquoted:
Malaysian Government Islamic papers
Accretion of discounts
Allowance for diminution
Shares
- In Malaysia
Islamic debt securities Accretion of discounts
Allowance for diminution
130,897 511,875 8,347 (226)
411,607
-
519,996 411,607 518,220 34 -
1,364,790 6,939 (393)
1,132,995
(1,725)
1,371,336 1,131,270 1,396,546 Deposits and money market placement with:
Licensed banks 519,227 695,022
Total investments
2,666,468 2,388,516
Investments maturing more than twelve months
1,930,879 1,552,859
102,400
48,420
394,998
1,076,361
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(c) Investment-linked Takaful Fund
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- in Malaysia
15,302 13,967
- outside Malaysia
- 23,680
Unrealised (loss)/gain
(1,117)
1,790
14,185 44,140 (4,372)
9,483
-
39,768 39,768 9,483 14,215 - 14,234
(452)
14,215 13,782 Investment in commodity, equity and
fixed income closed end fund
Unrealised loss
95,534 (8,588)
-
86,946 -
Deposits and money market placement with:
Licensed banks 26,154 102,816
Total investments
181,268 165,518
15,302 (1,117)
13,967
1,790
14,185 14,185 15,757 6,588 - 14,234
(452)
6,588 13,782 Unit Trusts
Allowance for diminution
Unquoted:
Islamic debt securities
Unrealised loss
14,215 86,946 39,437 39,437
9,483
13,782
-
Company
Quoted:
Shares
- in Malaysia
Unrealised (loss)/gain
14,185 Unquoted:
Islamic debt securities
Unrealised loss
6,588 Investment in commodity, equity and
fixed income closed end fund
Unrealised loss
95,534 (8,588)
-
86,946 -
Deposits and money market placement with:
Licensed banks Total investments
86,946 22,342 95,004
130,061 124,543
15,757
13,782
-
113
114
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(d) General Takaful Fund
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Group
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
39,010 38,307
Allowance for diminution
(1,012)
37,998 37,998 38,307 34,553 (827)
5,541
(73)
33,726 5,468 Unit trusts
Allowance for diminution
Unquoted:
Shares
- In Malaysia
Malaysian Government Islamic papers
Accretion of discounts
33,726 89 -
94,659 3,365 92,151
-
98,024 98,102 92,151 228,307 235 - 147,131
(2,074)
228,542 145,057 120,151 6,498 142,099
2,022
126,649 144,121
Total investments
525,028 425,104
Investments maturing more than twelve months
339,881 247,042
Islamic debt securities
- In Malaysia
Accretion of discounts Allowance for diminution
Deposits and money market placement with:
Licensed banks
- Local
- Foreign
229,490 40,545
5,554
89,042
132,212
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
8
Investments (Continued)
(d) General Takaful Fund (continued)
2009
2008
Market
Market
Cost/
Value/
Cost/
Value/
Company
Valuation
Fair Value
Valuation
Fair Value
RM’000
RM’000
RM’000
RM’000
Quoted:
Shares
- In Malaysia
39,010 38,307
Allowance for diminution
(1,012) 37,998 37,998 38,307 31,985 (404)
2,899
(73)
31,581 2,826 Unit trusts
Allowance for diminution
Unquoted:
Shares
- In Malaysia
Malaysian Government Islamic papers
Accretion of discounts
31,581 89 -
94,659 3,365 92,151
-
98,024 98,102 92,151 228,307 235 - 147,131
(2,074)
228,542 145,057 Deposits and money market placement with:
Licensed banks 106,193 122,615
Total investments
502,427 400,956
Investments maturing more than twelve months
339,881 246,383
Islamic debt securities Accretion of discounts Allowance for diminution
229,490 40,545
2,911
89,042
132,212
115
116
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
9
Financing receivables
Shareholders’
Group
Fund
2009
Family
Takaful
RM’000
General
Takaful
RM’000
Secured financing
Staff financing
Allowance for doubtful financing
Unsecured financing
3,068 11,840 (890)
-
5,772 3,793 (3,183)
3,000 4,668
(3,190)
2,000
Total financing
14,018 9,382 3,478
Amount receivable after twelve months
10,200 6,396 2,000
Secured financing
Staff financing
Allowance for doubtful financing
Unsecured financing
3,470 12,167 (2,935)
-
23,081 -
(6,386)
3,000 5,164
(5,140)
2,000
Total financing
12,702 19,695 2,024
Amount receivable after twelve months
13,433 3,540 -
2008
Secured financing
Staff financing
Allowance for doubtful financing
Unsecured financing
2,483 11,818 (890)
-
5,772 -
(3,110)
3,000 4,668
(3,190)
2,000
Total financing
13,411 5,662 3,478
Amount receivable after twelve months
9,593 3,000 2,000
Company
2009
Secured financing
Staff financing
Allowance for doubtful financing
Unsecured financing
2,771 12,167 (2,935)
-
6,459 -
(6,386)
3,000 5,164
(5,140)
2,000
Total financing
12,003 3,073 2,024
Amount receivable after twelve months
12,735 -
-
2008
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
10 Qardh Hasan Receivables
Shareholders’ Fund
Opening balance
(Decrease)/Increase during the year
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
80,861 (50,810)
4,444 108,130 80,861 (52,587)
80,861
Qardh Hasan written off (Note 27)
Transfer from/(to) Assets held for sale (Note 12)
30,051 -
1,671 112,574 (9,734)
(21,979)
28,274 -
-
80,861
-
31,722 80,861 28,274 80,861
Closing balance
The balance outstanding at 30 June 2009 for the RM1.671 million transferred from assets held for sale is net of provision for
impairment loss of RM20.308 million.
11 Receivables
Shareholders’
Group
Fund
2009
RM’000
Trade Receivables
Due contributions
-
Due from retakaful companies
-
Family
Takaful
RM’000
General
Takaful
RM’000
84,100 7,400 81,835
20,467
Allowance for bad and doubtful debts
-
-
91,500 (22,670)
102,302
(46,994)
-
68,830 55,308
Investment receivables
Deposits
Due from Shareholders’ Fund (Note 14)
Due from Family Takaful Fund (Note 14)
Due from General Takaful Fund (Note 14)
Due from Investment-linked Takaful Fund (Note 34)
Sundry receivables
1,896 631 -
11,395 19,148 3,908 9,763 34,534 273 7,217 -
-
4,377 1,537 5,614
4,182
7,191
1,926
46,741 47,938 18,913
Total receivables
46,741 116,768 74,221
Other Receivables
117
118
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
11 Receivables (Continued)
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Trade Receivables
Due contributions
Due from retakaful companies
-
-
60,091 4,023 77,063
57,476
Allowance for bad and doubtful debts
-
-
64,114 (18,706)
134,539
(60,729)
-
45,408 73,810
Investment receivables
Deposits
Due from Shareholders’ Fund (Note 14)
Due from Family Takaful Fund (Note 14)
Due from General Takaful Fund (Note 14)
Due from Investment-linked Takaful Fund (Note 34)
Sundry receivables
659 1,055 -
296 7,928 1,127 5,880 40,460 -
12,034 -
5,563 4,209 4,295 4,598
370
3,041
16,945 66,561 8,009
16,945 111,969 81,819
Due contributions
Due from retakaful companies
-
-
70,250 2,015 72,791
13,365
Allowance for bad and doubtful debts
-
-
72,265 (11,217)
86,156
(44,816)
-
61,048 41,340
Investment receivables
Deposits
Due from Shareholders’ Fund (Note 14)
Due from Family Takaful Fund (Note 14)
Due from General Takaful Fund (Note 14)
Due from Investment-linked Takaful Fund (Note 34)
Sundry receivables
1,896 526 -
-
19,148 3,908 3,724 34,534 273 7,217 -
-
4,377 1,487 5,614
7,191
1,902
29,202 47,888 14,707
Total receivables
29,202 108,936 56,047
Other Receivables
Total receivables
Company
2009
Trade Receivables
Other Receivables
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
11 Receivables (Continued)
Shareholders’
Company
Fund
2008
RM’000
Trade Receivables
Due contributions
-
Due from retakaful companies
-
Family
Takaful
RM’000
General
Takaful
RM’000
48,649 1,599 70,073
47,857
Allowance for bad and doubtful debts
-
-
50,248 (13,713)
117,930
(59,469)
-
36,535 58,461
Investment receivables
Deposits
Due from Family Takaful Fund (Note 14)
Due from General Takaful Fund (Note 14)
Due from Investment-linked Takaful Fund (Note 34)
Sundry receivables
659 1,055 296 7,928 1,127 2,768 40,460 -
-
5,563 4,209 1,160 4,598
370
471
13,833 51,392 5,439
Total receivables
13,833 87,927 63,900
Other Receivables
During the year, the Group and the Company wrote off due contributions against the allowance for bad and doubtful debts as
follows:
Group
Company
Family
General
Family
General
Takaful
Takaful
Takaful
Takaful
RM’000
RM’000
RM’000
RM’000
Bad debts written-off - 2009
16,999 10,239 17,836 9,075
- 2008
-
-
1,930 -
119
120
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
12 Assets held for sale
As at 30 June 2009, the assets and liabilities held for sale are as follows:
Group
Assets classified as held for sale
Property and equipment (Note i)
Investments
Qardh Hasan - Receivables (Note ii)
Receivables
Cash and bank balances
Reclassified from investment properties (Note 5)
Shareholders’ Fund
2009
2008
RM’000
RM’000
Family Takaful
2009
2008
RM’000
RM’000
581 -
-
-
-
890 210 30,925 1,671 6,106 452 -
-
-
-
-
-
800 -
1,471 39,364 800 -
i) Property and equipment held for sale comprise the following:
Shareholders’ Fund
2009
2008
RM’000
RM’000
Plant and equipment:
Cost
943 1,654
Accumulated depreciation
(362)
(1,444)
581 210
ii) The Qardh Hasan amount of Assets held for sale after deducting impairment loss for the year of RM nil (2008: RM20,308,000)
is as follows:
Shareholders’ Fund
2009
2008
RM’000
RM’000
Qardh Hasan receivable
Impairment loss (Note 27)
Transfer to Qardh Hasan receivable (Note 10)
Balance outstanding
Liabilities classified as held for sale
Payables
1,671 -
(1,671)
21,979
(20,308)
-
-
1,671
Shareholders’ Fund
2009
2008
RM’000
RM’000
-
3,233
-
3,233
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
12 Assets held for sale (Continued)
Company
At 1 July 2008/2007
Reclassified (to)/from cost of investment
in subsidiary - ARIL (Note 6)
Impairment loss (Note 27)
Reclassified from investment properties (Note 5)
Reclassified from property and equipment (Note 3)
At 30 June 2009/2008
Shareholders’ Fund
2009
2008
RM’000
RM’000
Family Takaful
2009
2008
RM’000
RM’000
22,872 -
-
-
(22,872)
-
890 581 31,385 (8,513)
-
-
-
-
800 -
-
1,471 22,872 800 -
The proposed sale of ARIL was aborted as the potential buyer had withdrawn from the transaction during the year. Accordingly,
the investment in ARIL has been reclassified to Investment in Subsidiaries.
13 Cash and bank balances
Shareholders’ Fund
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Current account with a related company
(Islamic financial institution)
Other current accounts
1,933 5,663 9,237 506 1,690 4,783 8,036
261
7,596 9,743 6,473 8,297
Current account with a related company
(Islamic financial institution)
Other current accounts
25,104 28,154 100,538 6,378 23,970 24,012 95,043
362
53,258 106,916 47,982 95,405
Current account with a related company
(Islamic financial institution)
Other current accounts
1,250 7,676 12,152 28,125 40 5,646 11,987
22,876
8,926 40,277 5,686 34,863
Family Takaful
General Takaful
121
122
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
14 Payables
Shareholders’
Group
Fund
2009
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Due to retakaful companies
Advanced takaful contribution
Profit payable to participants
Zakat payable
Deposits payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to General Takaful Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Due to Investment-linked Takaful Fund (Note 34)
Other payables and accruals
-
-
-
1,221 648 2,188 -
4,182 7,217 -
31,020 8,832 20,320 7,391 -
2,258 1,597 11,395 7,191 -
-
127,338 29,105
11,866
9,292
11,758
19,148
7
51,059
Total payables
46,476 186,322 132,235
Due to retakaful companies
Advanced takaful contribution
Profit payable to participants
Zakat payable
Deposits payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Other payables and accruals
-
-
-
3,585 648 -
-
12,034 28,124 3,195 13,643 7,355 -
-
-
296 -
105,049 36,846
11,091
9,356
7,219
7,928
5,563
51,504
Total payables
44,391 129,538 129,507
Group
2008
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
14 Payables (Continued)
Shareholders’
Company
Fund
2009
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Due to retakaful companies
Advanced takaful contribution
Profit payable to participants
Deposits payable
Zakat payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to General Takaful Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Due to Investment-linked Takaful Fund (Note 34)
Other payables and accruals
-
-
-
648 379 2,188 -
-
7,217 -
22,645 1,271 20,320 7,391 2,119 -
1,597 -
7,191 -
-
127,202 22,370
11,866
9,211
11,757
19,148
7
50,572
Total payables
33,077 167,091 124,931
Due to retakaful companies
Advanced takaful contribution
Profit payable to participants
Deposits payable
Zakat payable
Unclaimed monies
Due to Shareholders’ Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Other payables and accruals
-
-
-
647 3,287 - - - 19,042 Total payables
22,976 114,441 2009
General Takaful
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Company
2008
2,652 13,643 7,355 -
- - 296 - 90,495 35,112
11,091
9,356
7,219
7,928
5,563
45,483
121,752
15 Provision for outstanding claims
Group
Provision for outstanding claims
Retakaful recoveries
Net outstanding claims
Family
Takaful
RM’000
2008
51,546 (3,416)
315,848 (144,443)
56,254 (6,707)
459,279
(273,681)
48,130 171,405 49,547 185,598
Provision for outstanding claims
Retakaful recoveries
44,096 (3,416)
289,647 (144,443)
49,420 (6,707)
409,384
(254,951)
Net outstanding claims
40,680 145,204 42,713 154,433
Company
123
124
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
16 Deferred taxation
Shareholders’ Fund
Deferred tax assets and liabilities are attributable to the followings:-
Assets
Liabilities
Group
2009
2008
2009
2008
RM’000
RM’000
RM’000
RM’000
Property and equipment
-
3,595 1,951 -
Qardh Hasan receivables
-
-
7,069 21,024 Investments
(2,303)
(906)
-
-
Financing receivables
(1,084)
(2,091)
-
-
Receivables
(2,931)
(3,468)
-
-
Unearned contribution reserves
-
-
16 -
Payables
(5,124)
(6,177)
-
-
Investment properties
-
-
280 -
Unabsorbed capital allowances
(5,617)
(9,022)
-
-
Unabsorbed tax losses
(442)
(19,595)
-
-
Tax (assets)/liabilities
Set off of tax
Net tax (assets)/liabilities
Company
Property and equipment
Qardh Hasan receivables
Investments
Financing receivables
Receivables
Unearned contribution reserves
Payables
Investment properties
Unabsorbed capital allowances
Unabsorbed tax losses
Tax (assets)/liabilities
Set off of tax
Net tax (assets)/liabilities
Net
2009
RM’000
2008
RM’000
1,951 7,069 (2,303)
(1,084)
(2,931)
16 (5,124)
280 (5,617)
(442)
3,595
21,024
(906)
(2,091)
(3,468)
(6,177)
(9,022)
(19,595)
(17,501)
9,316 (37,664)
21,024 9,316 (9,316)
21,024 (21,024)
(8,185)
-
(16,640)
-
(8,185)
(16,640)
-
-
(8,185)
(16,640)
Liabilities
2009
2008
RM’000
RM’000
2009
RM’000
2008
RM’000
Assets
Net
2009
RM’000
2008
RM’000
-
-
(974)
(1,066)
(2,209)
-
(3,491)
-
(5,617)
-
3,778 -
(906)
(2,091)
(2,595)
-
(3,031)
-
(9,022)
(19,595)
1,951 7,069 -
-
-
16 -
26 -
-
-
21,024 -
-
-
-
-
-
-
-
1,951 7,069 (974)
(1,066)
(2,209)
16 (3,491)
26 (5,617)
-
3,778
21,024
(906)
(2,091)
(2,595)
(3,031)
(9,022)
(19,595)
(13,357)
9,062 (33,462)
21,024 9,062 (9,062)
21,024 (21,024)
(4,295)
-
(12,438)
-
(4,295)
(12,438)
-
-
(4,295)
(12,438)
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
16 Deferred taxation (Continued)
Shareholders’ Fund (continued)
Movement in temporary differences during the year: Recognised
As at Recognised
As at in income
Exchange
1 July in income
Exchange
30 June statement Differences/
Group
2007 statement Differences
2008 (Note 31) Adjustment
(Note 31)
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Property and equipment Qardh Hasan receivables Investments Financing receivables Receivables Investment properties Unearned contribution reserves Payables Unabsorbed capital allowance Unabsorbed tax losses Tax (assets)/liabilities As at
30 June
2009
RM’000
4,403 -
(3,365)
(1,939)
(1,520)
-
266 (3,970)
(9,022)
-
(816)
21,024 2,459 (152)
(1,948)
-
(266)
(2,300)
-
(19,595)
8
-
-
-
-
-
-
93 -
-
3,595 21,024 (906)
(2,091)
(3,468)
-
-
(6,177)
(9,022)
(19,595)
(1,825)
(13,955)
(68)
1,008 387 269 16 (65)
3,405 19,190 181 -
(1,329)
(1)
150 11 -
1,118 -
(37)
1,951
7,069
(2,303)
(1,084)
(2,931)
280
16
(5,124)
(5,617)
(442)
(15,147)
(1,594)
101 (16,640)
8,362 93 (8,185)
Recognised
As at Recognised
As at in income
1 July in income
30 June statement
Company
2007 statement
2008 (Note 31)
(Note 31)
RM’000
RM’000
RM’000
RM’000
As at
30 June
2009
RM’000
Property and equipment Qardh Hasan receivables Investments Financing receivables Receivables Investment properties Unearned contribution reserves Payables Unabsorbed capital allowance Unabsorbed tax losses
4,403 -
(1,411)
(1,939)
(1,520)
-
266 (3,970)
(9,022)
-
(625)
21,024 505 (152)
(1,075)
-
(266)
939 -
(19,595)
3,778 21,024 (906)
(2,091)
(2,595)
-
-
(3,031)
(9,022)
(19,595)
(1,827)
(13,955)
(68)
1,025 386 26 16 (460)
3,405 19,595 1,951
7,069
(974)
(1,066)
(2,209)
26
16
(3,491)
(5,617)
-
Tax (assets)/liabilities (13,193)
755 (12,438)
8,143 (4,295)
17 Minority shareholders’ interests
This consists of the minority shareholder’s proportion of share capital and reserves of subsidiaries.
125
126
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
18 Family Takaful Fund
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Participants’ Account (PA)
1,930,073 57,321 1,625,554 191,878 1,775,038 37,875 1,528,677
171,712
Profit attributable to participants
1,987,394 57,366 1,817,432 93,412 1,812,913 59,836 1,700,389
74,024
2,044,760 1,910,844 1,872,749 1,774,413
16,282 (16,282)
(20,773)
16,282 16,282 (16,282)
(20,773)
16,282
-
(4,491)
-
(4,491)
3,625 -
(4,071)
18,766 5,116 29,963 (11,359)
-
3,625 -
-
18,766 5,116
-
2,063,080 1,930,073 1,895,140 1,775,038
606,290 45,968 568,479 3,360 606,484 44,576 569,227
2,821
Profit attributable to participants
652,258 26,870 571,839 34,586 651,060 26,582 572,048
34,436
679,128 606,425 677,642 606,484
(6,583)
6,583 (6,583)
6,583 (6,583)
6,583 (6,583)
6,583
-
-
-
-
(313)
(135)
-
-
678,815 606,290 677,642 606,484
At beginning of the year
Add: Increase in PA
Movement in unrealised gain in investment and other reserves:
- At beginning of the year
- At end of the year
Special reserve
Interfund
Translation reserve
Seed capital
At end of the year
Participants’ Special Account (PSA)
At beginning of the year
Add: Increase in PSA
Movement in special reserves:
- At beginning of the year
- At end of the year
Translation reserve
At end of the year
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
18 Family Takaful Fund (Continued)
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
374,903 46,801 (55,840)
180,811 45,279 94,280 368,390 46,724 (52,587)
193,606
41,538
80,861
365,864 320,370 362,527 316,005
(250,470)
258,740 (197,012)
250,470 (246,125)
255,867 (193,740)
246,125
8,270 53,458 9,742 52,385
(9,145)
9,145 (9,145)
9,145 (9,145)
9,145 (9,145)
9,145
-
-
-
-
(655)
1,075 -
-
373,479 374,903 372,269 368,390
3,115,374 2,911,266 2,945,051 2,749,912
Group Family Takaful Fund (GFTA)
At beginning of the year
Profit attributable to participants
Movement in Qardh Hasan
Movement in actuarial reserves:
- At beginning of the year
- At end of the year
Movement in special reserves:
- At beginning of the year
- At end of the year
Translation reserve
At end of the year
Family Takaful fund at end of the year
In the valuation of the Participants’ Special Account (PSA) and Mortgage Reducing Term Takaful (MRTT) of Group Family
Takaful Fund (GFTA) of the Company carried out by a qualified actuary, the net contribution method of valuation (with
negative reserves eliminated) was used, based on certain underlying assumptions, including interest rates, mortality rates and
disability rates. As with all projections, the projected future liability payable may be different from the actual amount payable
due to inherent uncertainty involved in the assumptions used. For other products of GFTA, the unearned contribution reserves
(UCR) were calculated by the Company, using 1/365 method.
In respect of the Ordinary Family PSA & Annuity Waqaf, the statutory valuation of the Company’s Family Takaful Fund was
made for the year ended 30 June 2009 and the results (before shareholders’ transfer) showed a surplus of RM222,168,000
(2008: RM138,142,000) for the Company.
In respect of the Ordinary Family GFTA, the statutory valuation of the Company’s Group Family Takaful Fund was made since
the year ended 30 June 2008. In the previous year, a Qardh Hasan was made in the GFTA of RM 80,861,000 to make good
the deficit in the fund for MRTT business. The deficit for the MRTT business has reduced to RM38,525,000 and RM52,587,000
of Qardh Hasan was repaid during the financial year. The Qardh Hasan outstanding as at 30 June 2009 is RM28,274,000. No
further injection of Qardh Hasan is required as there is sufficient other surplus from the GFTA other products to mitigate the
shortfall. GFTA for other products showed a surplus (before shareholders’ transfer) of RM126,874,000 (2008: RM167,768,000)
for the Company.
127
128
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
19 General Takaful Fund
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
61,650 230,121 23,061 19,245 2,890 40,639 194,320 23,061 16,893 2,264 92,796 210,600 23,061 -
-
63,393
182,162
23,061
-
336,967 277,177 326,457 268,616
Revenue account accumulated surplus
As at 1 July Net surplus attributable to participants for the financial year
Profits payable to participants for the financial year
40,639 44,505 (23,494)
27,522 32,871 (19,754)
63,393 52,642 (23,239)
46,960
35,884
(19,451)
Balance as at 30 June
61,650 40,639 92,796 63,393
Marine
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
Revenue account accumulated surplus
Unearned contribution reserves (Note 20)
Special reserves
Statutory liabilities - Qardh Hasan
Translation reserve
20 Unearned Contribution Reserves
Group
Fire
Motor
2009
RM’000
RM’000
At beginning of the year
Increase/(Decrease) in unearned
contribution reserves
128,315 42,505 3,027 20,473 194,320
4,711 24,830 (202)
6,462 35,801
133,026 67,335 2,825 26,935 230,121
At end of the year
2008
At beginning of the year
Decrease in unearned contribution reserves
131,312 (2,997)
44,420 (1,915)
4,518 (1,491)
26,587 (6,114)
206,837
(12,517)
At end of the year
128,315 42,505 3,027 20,473 194,320
125,645 36,807 529 19,181 182,162
5,741 24,198 (222)
(1,279)
28,438
131,386 61,005 307 17,902 210,600
Company
2009
At beginning of the year
Increase/(Decrease) in unearned
contribution reserves
At end of the year
2008
At beginning of the year
Decrease in unearned contribution reserves
128,780 (3,135)
39,642 (2,835)
1,984 (1,455)
26,543 (7,362)
196,949
(14,787)
At end of the year
125,645 36,807 529 19,181 182,162
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
21 Share capital and reserves
Authorised
Ordinary shares of RM1.00 each
500,000
500,000
Issued and fully paid
Ordinary shares of RM1.00 each at 1 July
Issue of shares under the employee share option scheme
161,576 1,241 156,302
5,274
On issue at 30 June
162,817
161,576
Group and Company
2009
2008
RM’000
RM’000
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per
share at meetings of the Company.
22 Dividends
Sen per share
(net of tax)
2009
Dividend paid, final for financial year 2008 ordinary
Total
amount
RM’000
Date of
payment
2.63 4,274 9/1/09
2.61 4,163 27/6/08
2008
Dividend paid, interim for financial year 2008 ordinary
After the balance sheet date, the following dividend was proposed by the Directors. This dividend will be recognised in
subsequent financial reports upon approval by the shareholders.
Sen per share Total amount
(net of tax)
RM’000
Final (proposed) for financial year 2009 ordinary
5.44 8,853
23 Operating Revenue
Group
2009
Gross contributions
Investment income (Note 24) Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
-
9,289 524,867 138,850 352,851 23,277 877,718
171,416
9,289 663,717 376,128 1,049,134
-
9,487 655,890 117,439 269,104 23,914 924,994
150,840
9,487 773,329 293,018 1,075,834
2008
Gross contributions Investment income (Note 24) Shareholders’
Fund
RM’000
129
130
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
23 Operating Revenue (Continued)
Company
2009
Gross contributions
Investment income (Note 24)
Shareholders’
Fund
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
-
6,678 433,007 132,607 276,294 22,491 709,301
161,776
6,678 565,614 298,785 871,077
-
5,975 538,546 112,750 208,041 22,918 746,587
141,643
5,975 651,296 230,959 888,230
Shareholders’
Group
Fund
2009
RM’000
Islamic debt securities
1,107 Deposit/money market placements
4,044 Financing
- Staff
392 - Corporate
239 Other income from investments
433 Gross dividend from Shariah approved shares
- Quoted in Malaysia
1,305 Malaysian Government Islamic papers
-
Rental of investment properties
2,063 (Amortisation of premiums)/Accretion of discounts
(64)
Investment expenses
(230)
Family
Takaful
RM’000
General
Takaful
RM’000
74,999 28,028 8,584
5,913
-
995 -
381
800
8,274 15,939 9,217 4,460 (3,062)
2,177
3,170
1,759
799
(306)
9,289 138,850 23,277
664 4,494 62,876 28,001 6,486
8,776
2008
Gross contributions Investment income (Note 24) 24 Investment income
Total investment income
2008
Islamic debt securities
Deposit/money market placements
Financing
- Staff
- Corporate
Other income from investments
Gross dividend from Shariah approved shares
- Quoted in Malaysia
Malaysian Government Islamic papers
Accretion of discounts
Rental of investment properties
Investment expenses
479 71 1,747 -
314 1,167 856
942 -
-
2,263 (1,173)
4,364 14,884 345 16,454 (10,966)
1,552
3,176
2,071
2,941
(1,944)
9,487 117,439 23,914
Total investment income
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
24 Investment income (Continued)
Shareholders’
Company
Fund
2009
RM’000
Islamic debt securities
608 Deposit/money market placements
2,014 Financing
- Staff
392 - Corporate
239 Other income from investments
356 Gross dividend from Shariah approved shares
- Quoted in Malaysia
1,305 Malaysian Government Islamic papers
-
Rental of investment properties
2,058 (Amortisation of premiums)/Accretion of discounts
(64)
Investment expenses
(230)
Total investment income
Family
Takaful
RM’000
General
Takaful
RM’000
72,082 25,663 8,584
5,127
-
633 -
381
800
8,274 15,939 8,618 4,460 (3,062)
2,177
3,170
1,759
799
(306)
6,678 132,607 22,491
413 2,666 61,703 25,822 6,486
7,781
2008
Islamic debt securities
Deposit/money market placements
Financing
- Staff
Other income from investments
Gross dividend from Shariah approved shares
- Quoted in Malaysia
Malaysian Government Islamic papers
Accretion of discounts
Rental of investment properties
Investment expenses
479 404 -
823 855
942 -
-
2,244 (1,173)
4,364 14,884 345 15,775 (10,966)
1,552
3,176
2,071
2,941
(1,944)
Total investment income
5,975 112,750 22,918
Shareholders’
Group
Fund
2009
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
25 Other operating income
Income from ILB, service charge and management fees
Miscellaneous income Fair value gain arising from investment properties
Writeback of allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
Gain on disposal of investments
Gain on disposal of investment properties
Gain on disposal of property and equipment 7,363 7,860 121 - 2,045 44 356 61 17,850 - 213 16,200 - 3,203 1,038 754 - 21,408 (13)
1,700
5,578
1,950
957
396
10,568
131
132
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
25 Other operating income (Continued)
Shareholders’
Group
Fund
2008
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Income from ILB, service charge and management fees
Miscellaneous income Fair value gain arising from investment properties
Gain on disposal of investments
Gain on disposal of property and equipment 16,927 1,551 2,162 6,812 26 217 2,675 10,658 44,406 17 9,784
2,869
6,457
68
27,478 57,973 19,178
- 591 15,456 - 3,276 14,007 754 - 1,700
5,578
1,950
942
396
-
Company
2009
Income from ILB, service charge and management fees
Miscellaneous income Fair value gain arising from investment properties
Writeback of allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
Gain on disposal of investments
Gain on disposal of investment properties
Gain on disposal of property and equipment
6,491 2,218 120 - 2,045 31
356 26 11,287 34,084 10,566
Income from ILB, service charge and management fees
Miscellaneous income Fair value gain arising from investment properties
Gain on disposal of investments
Gain on disposal of property and equipment 12,864 (26)
2,158 6,362 26 - 2,109 10,658 38,504 - 8,166
2,869
6,457
-
21,384 51,271 17,492
2008
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
26 Management expenses
Shareholders’ Fund
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Staff costs
Directors’ remuneration
- Salaries and other emoluments
- Fees
Shariah Committee remuneration
- Emoluments
- Fees
76,277 76,698 61,559 60,389
2,726 766 2,308 360 2,140 350 1,546
333
9
148 -
173 9
90 105
79,926 79,539 64,148 62,373
10,567 250 17,716 31 9,133 30 16,157
31
300 61 371 374 8,928 8,261 5,067 5,759 3,266 2,292 6,113 2,539 14,346 271 77 546 105 11,535 9,042 3,734 3,200 2,035 1,350 5,386 1,750 5,872 280 -
371 97 8,752 6,401 5,059 5,290 2,557 2,073 4,472 1,524 2,699 248
546
8
11,413
7,353
3,729
3,200
2,035
1,350
5,386
1,750
5,850
68,494 62,650 48,738 59,056
148,420 142,189 112,886 121,429
Depreciation
Amortisation of prepaid lease payment
Audit fees
- Company auditors
- Other auditors
Licence fees
Legal fees
Professional fees
Rental of properties
Rental of equipments
Repair and maintenance - property and equipment
Travelling expenses
Utilities
Communication costs
Advertising
Other expenses
Total management expenses
All management expenses are incurred at the Shareholders’ fund level. The estimated monetary value of benefits-in-kind
received by the directors, are RM154,000 (2008: RM243,000) and RM93,000 (2008: RM177,000) at Group and Company
level respectively.
27 Other operating expenses
Shareholders’
Group
Fund
2009
RM’000
Allowance for diminution in value of investments
2,192 Allowance for bad and doubtful debts
1,196 Write off of equipments
1,582 Commission
9,583
Administrative and general expenses 901 15,454 Family
Takaful
RM’000
General
Takaful
RM’000
19,169 20,963 -
-
1,408 1,661
2,082
5,020
41,540 8,763
133
134
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
27 Other operating expenses (Continued)
Shareholders’
Group
Fund
2008
RM’000
Writeback of allowance for diminution in value of investments
(3,272)
Impairment loss on assets held for sale
20,308 (Writeback of) / Allowance for bad and doubtful debts
(210)
Writeback of allowance for doubtful financing
(248)
Write off of equipments
4,548 Qardh Hasan written off
9,734 Commission
8,795 Administrative and general expenses 19,845 Family
Takaful
RM’000
General
Takaful
RM’000
(1,798)
-
(14,095)
(982)
69 -
-
9,892 (2,110)
20,659
(822)
4,213
59,500 (6,914)
21,940
Shareholders’
Company
Fund
2009
RM’000
Allowance for diminution in value of investments
1,666 Allowance for bad and doubtful debts
-
Write off of equipment
1,582 Commission
1,367
Administrative and general expenses -
Family
Takaful
RM’000
General
Takaful
RM’000
19,305 15,340 -
-
1,408 1,343
2,774
4,615 36,053 4,117
Writeback of allowance for diminution in value of investments
Allowance for diminution in value of investment in a subsidiary
(Writeback of )/Allowance for bad and doubtful debts
Writeback of allowance for doubtful financing
Write off of equipment
Administrative and general expenses (3,189)
8,513 (210)
(248)
4,548 745 (1,799)
-
(16,908)
(982)
66 7,460 (2,110)
21,228
(822)
2,862
10,159 (12,163)
21,158
2008
28 Key Management Personnel Compensation
Directors
Executive:
Salaries and other emoluments
Benefits-in-kind
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
2,472 121 2,293 95 2,140 61 1,531
29
2,593 2,388 2,201 1,560
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
28 Key Management Personnel Compensation (Continued)
Non-Executive:
Other emoluments
Fees
Benefits-in-kind
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
254 766 33 15 360 148 -
350 32 15
333
148
1,053 523 382 496
Other key management personnel:
Short-term employment benefits
Benefits-in-kind
3,515 114 3,711 72 2,248 10 2,571
72
3,629 3,783 2,258 2,643
7,275 6,694 4,841 4,699
Total
29 Employee information
Staff costs
Group
2009
2008
RM’000
RM’000
76,277 76,698 Company
2009
2008
RM’000
RM’000
61,559 60,389
30
The number of employees of the Group and of the Company (including Executive Director) at the end of the year were 1,488
(2008: 1,920) and 946 (2008: 1,342) respectively.
Staff costs of the Group and of the Company include contributions to the Employees Provident Fund of RM8,046,947 (2008:
RM7,378,006) and RM7,843,780 (2008: RM7,196,088) respectively.
Employee benefits
Equity compensation benefits
Share option plan
On 28 June 2003, the Company’s shareholders approved the establishment of an employees’ share option scheme of not more
than 10% of the issued share capital of the Company to eligible Directors and employees of the Group. The option scheme
expired on 2 November 2008. The salient features of the scheme are as follows:
(i) Eligible employees are those who have been confirmed in writing as employees of the Group (save for any subsidiaries
which are dormant and which are not incorporated in Malaysia) for at least one year prior to the date of the offer.
(ii) The option is personal to the grantee and is non-assignable.
(iii) The option price shall be determined by the average of the middle market quotation of the Company’s ordinary shares
as shown in the daily official list issued by Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for the five trading
days preceding the respective dates of the offer in writing to the grantee or at the par value of the ordinary shares of the
Company, whichever is higher.
135
136
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
30 Employee benefits (Continued)
Equity compensation benefits (continued)
Share option plan (continued)
(iv) The options granted may be exercised at any time within a period of five years from the date of offer of the option or such
shorter period as may be specifically stated in the offer upon giving notice in writing.
(v) The options granted may be exercised in full or in lesser number of ordinary shares provided that the number shall not be
less than 1,000 new shares and not more than ten per cent (10%) of the issued and paid up share capital of the Company
at the point in time when an offer is made.
(vi) The option scheme shall be in force for five years until 1 November 2008.
The persons to whom the options have been granted have no rights to participate by virtue of the options in any share issue of
any other company.
Movements in the number of shares options held by employees are as follows:
As at 1 July Exercised during the financial year
Lapsed during the financial year
2009
’000 (units)
1,915 (1,241)
(674)
2008
’000 (units)
8,156
(5,274)
(967)
-
1,915
As at 30 June
The options, which had an exercise price of RM1.20 ordinary per share, expired on 2 November 2008.
During the current financial year, 1,241,000 share options were exercised (2008: 5,274,000). The weighted average share
price for the year was RM1.70 (2008: RM1.58). The weighted average share price was determined based on the total market
value (at daily closing price) over the total number of options on the days of exercise.
31 Tax expense
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Current tax expense
Malaysian - under provision in prior years
Overseas - current year
- 37 10,715 - - - 10,863
-
37 10,715 - 10,863
Deferred tax expense
Origination and reversal of temporary differences
Over provision in prior years 10,008 (1,646)
(1,493)
- 9,789 (1,646)
755
-
8,362 (1,493)
8,143 755
8,399 9,222 8,143 11,618
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
31 Tax expense (Continued)
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Reconciliation of effective tax rate
Profit before zakat and taxation
49,715 37,910 45,831 46,119
Income tax using Malaysian tax rate
Effect of different tax rates in local jurisdiction
Items not subject to tax
Non-deductible expenses
12,429 -
(5,263)
2,879 9,857 1,225 (12,575)
-
11,458 -
(4,843)
3,174 11,991
1,225
(12,461)
-
10,045 (1,646)
(1,493)
10,715 9,789 (1,646)
755
10,863
8,399 9,222 8,143 11,618
(Over)/under provision of tax in prior year Tax expense
32 Earnings per share - Group
(a) Basic earnings per share
The calculation of basic earnings per share is based on the net profit attributable to ordinary shareholders of RM39,394,000
(2008: RM29,705,000) and the weighted average number of ordinary shares issued during the year of 162,716,000
(2008: 158,635,000).
Weighted average number of ordinary shares
2009
2008
’000 (units)
’000 (units)
Issued ordinary shares at beginning of the year
Effect of new shares issued
161,576 1,140 156,302
2,333
Weighted average number of ordinary shares
162,716 158,635
(b) Diluted earnings per share
Diluted earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted
average number of shares in issue adjusted for potential dilutive ordinary shares arising from share options granted to
employees.
2009
’000 (units)
2008
’000 (units)
Weighted average number of ordinary share in issue
Adjustment for share options
162,716
- 158,635
464
Total
162,716
159,099
137
138
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
33 Net Claims Incurred
Fire
Motor
RM’000
RM’000
Group
2009
Gross claims paid less salvage
46,110 50,540 Retakaful recoveries
(30,218)
(5,279)
Net claims paid
Net outstanding claims:
At end of the year
At beginning of the year
Net claims incurred
Marine
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
23,532 (18,049)
40,095 (15,730)
160,277
(69,276)
15,892 45,261 5,483 24,365 91,001
26,823 (44,519)
76,509 (62,587)
10,643 (12,904)
57,430 (65,588)
171,405
(185,598)
(1,804)
59,183 3,222 16,207 76,808
34,295 (25,507)
47,400 (3,115)
16,736 (10,039)
35,509 (11,590)
133,940
(50,251)
2008
Gross claims paid less salvage
Retakaful recoveries
Net claims paid
Net outstanding claims:
At end of the year
At beginning of the year
8,788 44,285 6,697 23,919 83,689
44,519 (38,513)
62,587 (44,042)
12,904 (17,477)
65,588 (64,262)
185,598
(164,294)
14,794 62,830 2,124 25,245 104,993
Marine
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
Net claims incurred
Fire
Motor
RM’000
RM’000
Company
2009
Gross claims paid less salvage
38,522 41,137 Retakaful recoveries
(29,483)
(4,091)
Net claims paid
Net outstanding claims:
At end of the year
At beginning of the year
Net claims incurred
21,347 (17,868)
34,505 (15,319)
135,511
(66,761)
9,039 37,046 3,479 19,186 68,750
21,050 (34,665)
70,090 (57,961)
6,138 (7,065)
47,926 (54,742)
145,204
(154,433)
(4,576)
49,175 2,552 12,370 59,521
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
33 Net Claims Incurred (Continued)
Fire
Motor
RM’000
RM’000
Company (continued)
2008
Gross claims paid less salvage
Retakaful recoveries
Net claims paid
Marine
Aviation
& Transit Miscellaneous
RM’000
RM’000
Total
RM’000
28,092 (24,022)
37,422 (2,615)
12,244 (9,059)
31,076 (10,827)
108,834
(46,523)
4,070 34,807 3,185 20,249 62,311
Net outstanding claims:
At end of the year
At beginning of the year
34,665 (28,171)
57,961 (41,080)
7,065 (12,447)
54,742 (55,975)
154,433
(137,673)
10,564 51,688 (2,197)
19,016 79,071
Net claims incurred
34 Investment-linked takaful business (ILB)
Balance Sheet as at 30 June
Assets
Investments (Note 8)
Receivables
Due from General Takaful Fund (Note 14)
Cash and bank balances
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
181,268 5,053 7
7,278 165,518 8
-
9,933 130,061 5,052 7
6,357 124,543
8
6,289
Total ILB assets
193,606 175,459 141,477 130,840
Provision for outstanding claims
Payables
Due to Shareholders’ Fund (Note 11)
Due to Family Takaful Fund (Note 11)
Due to General Takaful Fund (Note 11)
3,073 3,242 3,908 4,377 -
341 4,362 1,127 4,209 370 3,073 3,242 3,908 4,377 -
341
4,362
1,127
4,209
370
Total ILB liabilities
14,600 10,409 14,600 10,409
Net asset value of funds
179,006 165,050 126,877 120,431
Gross contributions
Retakaful
33,052 (132) 134,267 (109) 3,032 (132) 94,663
(109)
Decrease in unearned contribution reserves
32,920 9
134,158 26 2,900 9
94,554
26
32,929 134,184 2,909 94,580
Liabilities
Revenue account for the year ended 30 June
Net contributions
139
140
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
34 Investment-linked takaful business (ILB) (Continued)
Revenue account for the year ended 30 June (continued)
Group
2009
2008
RM’000
RM’000
Company
2009
2008
RM’000
RM’000
Benefits paid and payable
Death/disability
Surrenders
Redemption of units for Tabarru’
Service charges
Others
Maturities
(120) (12,702) -
-
(3) -
(5,596) (4,986) (259) (4,034) (87) (42) (120) (3,858) -
-
(3) -
59
(4,987)
(259)
(146)
(87)
(42)
(12,825) (15,004) (3,981) (5,462)
Net admin fee (131) -
(131) -
19,973 119,180 (1,203) 89,118
19,660 313 118,404 776 (1,516)
313 88,342
776
Less: Underwriting profit/(loss) – Individual Family ILB
19,973 (19,660)
119,180 (118,404)
(1,203)
1,516 89,118
(88,342)
313 (12,312)
115 (16,671)
776 6,271 79 -
313 1,254 115 (12,300)
776
3,150
78
-
(28,555)
7,126 (10,618)
4,004
(177)
(513)
(177)
(513)
Comprises:
Underwriting profit/(loss) – Individual Family ILB
Underwriting profit – Group Family ILB
Underwriting profit – Group Family ILB
Investment income
Other operating income
Other operating expenses
(Loss)/Profit attributable to the Company and participants
after excluding underwriting profit – Individual Family ILB
Profit attributable to the Company transferred to
Income Statement
(Loss)/Profit attributable to participants for the year
(28,732)
6,613 (10,795)
3,491
Family ILB Fund at beginning of the year
Underwriting profit – Family ILB
(Loss)/Profit attributable to participants for the year
Unearned contribution reserves
Unrealised loss in value of investments
Seed capital
Translation reserve
165,050 19,660 (28,732)
(9)
-
18,766 4,271 44,717 118,404 6,613 (25)
(4,491)
-
(168)
120,431 (1,516)
(10,795)
(9)
-
18,766 -
33,113
88,342
3,491
(24)
(4,491)
-
Family ILB Fund at end of the year 179,006 165,050 126,877 120,431
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
35 Related parties
For the purposes of these financial statements, parties are considered to be related to the Group or the Company if the Group
or the Company has the ability, directly or indirectly, to control the party or exercise significant influence over the party in
making financial and operating decisions, or vice versa, or where the Group or the Company and the party are subject to
common control or common significant influence. Related parties may be individuals or other entities. Key management personnel are defined as those persons having authority and responsibility for planning, directing and
controlling the activities of the Group either directly or indirectly. The key management personnel includes all the Directors of
the Group, and certain members of senior management of the Group. Compensation paid to key management personnel have
been disclosed in Note 28.
Significant transactions with related parties during the year are as follows. Balances outstanding in respect of these transactions
are disclosed in Notes 11 and 14.
Group
2009
2008
RM’000
RM’000
Subsidiary company (Note 6)
Contribution for facultative and treaty outward
Related companies
Rental income
Contribution for Family Takaful
Contribution for General Takaful
Lease rental expense
-
-
1,021 3,790
7,368 3,011 4,479 394 7,258 5,183 3,189 394 7,368 3,011 4,479 394 7,258
5,183
3,189
394
36 Operating leases
Total future minimum lease payments under non-cancellable operating leases are as follows:
Non-related parties:
Less than one year
Between one and five years
Related parties:
Less than one year
Between one and five years
Company
2009
2008
RM’000
RM’000
Group and Company
2009
2008
RM’000
RM’000
495 4,487 2,713
2,658
38 1,084 407
1,084
Lease commitments are wholly payable from the Shareholders’ fund.
The Group and the Company lease a number of computers and equipment under operating leases. The leases typically run an
initial period of five years, with an option to renew the lease after that date.
141
142
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
37 Capital commitments
Authorised by the Directors and contracted for
Group and Company
2009
2008
RM’000
RM’000
1,841 12,723
38 Segmental information
Segment information is presented in respect of the Group’s geographical segments. This is based on the Group’s management
and internal reporting structure. Inter-segment pricing is determined based on negotiated terms. The Group does not present
information by business segment as it is principally engaged as an operator of Family and General takaful/retakaful businesses.
The financial position and performance of the Family and General takaful businesses managed are disclosed separately within
these financial statements.
Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated
on a reasonable basis. Unallocated items comprise expenses, which are all incurred by shareholders for the management of
Takaful funds.
Segment capital expenditure is the total cost incurred during the year to acquire segment assets that are expected to be used
for more than one year.
Geographical segments
In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of
customers. Segment assets are also based on the geographical location of assets. Geographical segments
2009
Total external revenue
Inter-segment revenue
Malaysia
RM’000
Indonesia
RM’000
Eliminations Consolidated
RM’000
RM’000
896,982 -
152,152 -
-
-
1,049,134
-
Total segment revenue
896,982 152,152 -
1,049,134
Segment result
48,512 1,203 -
49,715
Finance costs
-
Profit before zakat & taxation
Zakat
Tax expense
49,715
(862)
(8,399)
Profit for the year
40,454
Segment assets by location of assets
4,114,287 257,948 -
4,372,235
Segment liabilities by location of liabilties
3,788,199 206,591 -
3,994,790
Capital expenditure by location of assets
4,152 693 -
4,845
Depreciation and amortisation
9,163 1,654 -
10,817
Non-cash expenses other than
depreciation and amortisation
23,192 -
-
23,192
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
38 Segmental information (Continued)
Geographical segments (continued)
2008
Total external revenue
Inter-segment revenue
Malaysia
RM’000
Indonesia
RM’000
957,522 -
164,128 -
-
-
1,121,650
-
Total segment revenue
957,522 164,128 -
1,121,650
Segment result
33,844 4,066 -
37,910
Finance costs
-
Profit before zakat & taxation
Zakat
Tax expense
37,910
(4,050)
(9,222)
Profit for the year
24,638
Segment assets by location of assets
Eliminations Consolidated
RM’000
RM’000
3,855,907 218,942 (27,550) 4,047,299
Segment liabilities by location of liabilties
3,506,723 204,541 -
3,711,264
Capital expenditure by location of assets
14,637 1,015 -
15,652
Depreciation and amortisation
16,333 1,414 -
17,747
Non-cash income other than
depreciation and amortisation
9,647 -
-
9,647
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
(86,851)
30,538 -
(47,545)
16,194 -
(144,296)
56,817
(2,784)
(2,599)
(56,313)
(31,351)
(90,263)
Segmental Information on Cash Flows
Shareholders’
Group
Fund
2009
RM’000
Cash flows from:
Operating activities
(9,900)
Investing activities
10,085 Financing activities
(2,784)
Net decrease in cash and cash equivalents
Cash and cash equivalents:
At beginning of the year
(2,599)
(56,313)
(31,351)
(90,263)
10,195 116,849 40,277 167,321
At end of the year
7,596 60,536 8,926 77,058
2008
Cash flows from:
Operating activities
Investing activities
Financing activities
7,204 (15,070)
2,165 60,782 339 -
15,286 253 -
83,272
(14,478)
2,165
(5,701)
61,121 15,539 70,959
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents:
At beginning of the year
(5,701)
61,121 15,539 70,959
15,896 55,728 24,738 96,362
At end of the year
10,195 116,849 40,277 167,321
143
144
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
38
Segmental information (Continued)
Shareholders’
Company
Fund
2009
RM’000
Family
Takaful
RM’000
General
Takaful
RM’000
Total
RM’000
Cash flows from:
Operating activities
Investing activities
Financing activities
12,315 (11,355)
(2,784)
(78,120)
30,766 -
(45,372)
16,194 -
(111,177)
35,605
(2,784)
(1,824)
(47,354)
(29,178)
(78,356)
(1,824)
(47,354)
(29,178)
(78,356)
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents:
At beginning of the year
8,297 101,693 34,864 144,854
6,473 54,339 5,686 66,498
Cash flows from:
Operating activities
Investing activities
Financing activities
7,510 (14,378)
2,165 57,186 (86)
-
12,314 (34)
-
77,010
(14,498)
2,165
(4,703)
57,100 12,280 64,677
12,280 64,677
At end of the year
2008
Net (decrease)/increase in cash and cash equivalents
(4,703)
57,100 Cash and cash equivalents:
At beginning of the year
13,000 44,594 At end of the year
8,297 101,694 22,583 80,177
34,863 144,854
39 Financial Risks
Financial risk management objectives and policies
Exposure to underwriting, credit, currency and liquidity risks arises in the normal course of the Group and the Company’s
business. The Group and the Company are guided by risk management policies and guidelines that set out their overall
business strategies and general risk management philosophy. The Group and the Company have established processes to
monitor the risk on an ongoing basis.
Underwriting risk
Underwriting risk includes the risk of incurring higher claims costs than expected owing to the random nature of claims
and their frequency and severity and the risk of change in legal or economic conditions or behavioural patterns affecting
takaful pricing and conditions of takaful or retakaful cover. This may result in the situation of having either received too little
contribution for the risks it has agreed to underwrite and hence has not enough funds to invest and pay claims, or claims are
in excess of those expected.
The Group and the Company seek to minimise underwriting risk with a balanced mix and spread of business between classes
of business and by observing underwriting guidelines and limits, conservative estimation of the claims provisions and high
standards applied to security for retakaful.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
39 Financial Risks (Continued)
Credit risk
Credit risk represents the loss that would be recognised if counter parties to takaful, retakaful and investment transactions
failed to perform as contracted. Exposure to credit risk is monitored on an ongoing basis.
At balance sheet date, approximately 15.8% of the Group and the Company’s fixed deposits are placed with a related company.
The maximum exposure to credit risk for the Group and the Company is represented by the carrying amount of each financial
asset.
Foreign currency risk
The Group and the Company incur foreign currency risk on transactions that are denominated in a currency other than
Ringgit Malaysia and also the translation of the financial statements of the subsidiaries to Ringgit Malaysia. The Group and
the Company do not hedge their foreign currency risks and therefore exposures to foreign currency risk are monitored on an
ongoing basis.
Liquidity risk
The Group monitors and maintains a level of cash and cash equivalents deemed adequate by management to finance the
Group’s operations and to mitigate the effects of fluctuations in cash flows.
Financial instruments
Effective profit rates and repricing analysis
In respect of profit-earning financial assets, the following table indicates their effective profit rates at the balance sheet date
and the periods in which they reprice or mature, whichever is earlier.
Shareholders’ Fund
Group
Effective Less than
2009
Profit Rate
Total
1 year
%
RM’000
RM’000
Financial assets Islamic debt securities
4.29
70,539 21,456 Secured financing
10.57
2,364 1,757 Deposits and money
market placement
2.40 112,039 111,839 Staff financing
3.55
11,654 2,061 Total
Group
2008
2 -3
years
RM’000
3-4
years
RM’000
4-5 More than
years
5 years
RM’000
RM’000
863 22 1,380 191 690 262 12,281 132 33,869
-
200 24 -
147 -
161 -
771 8,490
196,596
137,113
1,109
1,718
1,113
13,184
42,359
4.44
11.17
8,597 699 44 -
31 197 230 133 156 3
104 3
8,032
363
3.53
3.55
80,512 12,003 75,255 12 5,058 47 199 59 -
289 -
351 11,245
Total
101,811
75,311
5,333
621
448
458
19,640
Financial assets
Islamic debt securities
Secured financing
Deposits and money
market placement
Staff financing
1-2
years
RM’000
145
146
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
39 Financial Risks (Continued)
Family Takaful Fund
Group
2009
Effective
Profit Rate
Total
%
RM’000
Less than
1 year
RM’000
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5 More than
years
5 years
RM’000
RM’000
5.47 1,406,668 32,601 36,022 99,483 89,073 79,350 1,070,139
Financial assets
Islamic debt securities
Malaysian Government
Islamic papers
Secured and unsecured
financing
Deposits and money market placement
3.50
519,996 -
-
73,580 20,018 5,160 421,238
11.27
9,382 2,986 -
-
3,382 3,000 14
2.85
-
5,000
575,962 506,371 26,030 38,561 -
Total 2,512,008 541,958 62,052 211,624 112,473 Group
2008
26,377 16,144 26,783 85,398 112,695 880,014
Financial assets
Islamic debt securities
Malaysian Government Islamic papers
Secured and unsecured
financing
Deposits and money market placement
6.24 1,147,411 87,510 1,496,391
4.02
411,607 -
-
19,523 70,517 14,985 306,582
7.32
19,695 16,155 63 183 98 105 3,091
3.47
737,374 669,370 21,575 25,980 20,349 100 -
Total 2,316,087 711,902 37,782 72,469 176,362 127,885 1,189,687
General Takaful Fund
Less than
1 year
RM’000
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5 More than
years
5 years
RM’000
RM’000
Group
2009
Effective
Profit Rate
Total
%
RM’000
Financial assets
Islamic debt securities
Malaysian Government
Islamic papers
Secured and unsecured
financing
Deposits and money market placement
4.85
228,542 -
10,021 32,880 13,905 21,222 150,514
3.35
98,024 -
-
18,615 -
15,337 64,072
9.42
3,478 1,478 -
-
-
2,000 -
3.01
126,649 113,334 9,440 3,875 -
-
-
Total
456,693 114,812 19,461 55,370 13,905 38,559 214,586
Group
2008
5.48
145,057 9,989 -
10,064 15,454 10,000 99,550
4.04
92,151 -
-
5,005 28,036 -
59,110
9.72
2,024 2,024 -
-
-
-
-
Financial assets
Islamic debt securities
Malaysian Government Islamic papers
Secured and unsecured
financing
Deposits and money market placement
3.58
144,121 124,955 5,850 9,440 3,876 -
-
Total
383,353
136,968
5,850
24,509
47,366
10,000
158,660
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
39 Financial Risks (Continued)
Shareholders’ Fund
Company
Effective Less than
2009
Profit Rate
Total
1 year
%
RM’000
RM’000
Financial assets
Islamic debt securities
6.17 40,630 -
Secured financing
10.00 1,757 1,757 Deposits and money
market placement
2.36 78,477 78,277 Staff financing
3.55 11,654 2,061 Total
Company
2008
1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5 More than
years
5 years
RM’000
RM’000
-
-
-
-
-
-
10,901 -
29,729
-
200 24 -
147 -
161 -
771 8,490
132,518 82,095 224 147 161 11,672 38,219
6.50 5,613 -
-
-
-
-
5,613
3.47 3.55 64,538 12,003 64,338 12 -
47 200 59 -
289 -
351 11,245
Total
82,154
64,350
47
259
289
351
16,858
Family Takaful Fund
Company
Effective Less than
2009
Profit Rate
Total
1 year
%
RM’000
RM’000
Financial assets
Islamic debt securities
5.50 1,371,336 30,044 Malaysian Government
Islamic papers
3.50 519,996 -
Secured and unsecured financing
9.47
5,662 2,662 Deposits and money market placement
3.04 519,227 449,636 1-2
years
RM’000
2 -3
years
RM’000
3-4
years
RM’000
4-5 More than
years
5 years
RM’000
RM’000
29,122 89,133 82,173 70,725 1,070,139
-
73,580 20,018 5,160 421,238
-
-
-
3,000 -
26,030 38,561 -
-
5,000
55,152 201,274 102,191 Financial assets
Islamic debt securities
Deposits and money market placement
Staff financing
Total 2,416,221 Company
2008
482,342 78,885 1,496,377
Financial assets
Islamic debt securities
6.24 1,131,270 24,910 15,130 25,060 80,228 109,247 Malaysian Government
Islamic papers
4.02 411,607 -
-
19,523 70,517 14,985 Secured and unsecured financing
9.72
3,073 3,073 -
-
-
-
Deposits and money
market placement
3.46 695,022 627,019 21,575 25,980 20,349 99 Total 2,240,972
655,002
36,705
70,563
171,094
876,695
306,582
-
124,331 1,183,277
147
148
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
39 Financial Risks (Continued)
General Takaful Fund
Company
Effective Less than
1-2
2 -3
3-4
4-5 More than
2009
Profit Rate
Total
1 year
years
years
years
years
5 years
%
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Financial assets
Islamic debt securities
4.85 228,542 -
10,021 32,880 13,905 21,222 150,514
Malaysian Government
Islamic papers
3.35
98,024 -
-
18,615 -
15,337 64,072
Secured and unsecured financing
9.42
3,478 1,478 -
-
-
2,000 Deposits and money market placement
2.90 106,193 92,878 9,440 3,875 -
-
Total
Company
2008
436,237
94,356
19,461
55,370
13,905
38,559
Financial assets
Islamic debt securities
5.48 145,057 9,989 -
10,064 15,454 10,000 Malaysian Government
Islamic papers
4.04
92,151 -
-
5,005 28,036 -
Secured and unsecured financing
9.72
2,024 2,024 -
-
-
-
Deposits and money market placement
3.68 122,615 103,449 5,850 9,440 3,876 -
Total
361,847
115,462
5,850
24,509
47,366
10,000
214,586
99,550
59,110
158,660
40 Reserves
Subject to agreement by the Inland Revenue Board, the Company has sufficient Section 108 tax credit to frank approximately
RM47.6 million of its retained profits at 30 June 2009 if paid out as taxable dividends.
The Malaysian Budget 2008 introduced a single tier company income tax system with effect from year of assessment 2008. As
such, the Section 108 tax credit as at 31 December 2007 will be available to the Company until such time the credit is fully
utilised or upon expiry of the six year transitional period on 31 December 2013, whichever is earlier.
41 Contingent liabilities
Prior to the amendments of Section 60AA of the Income Tax Act 1967 (Section 60AA), capital allowances had been claimed
by way of deduction from tax adjusted income in both General and Family Takaful Funds whilst the Shareholders’ Fund is not
entitled to claim capital allowances. The amended Section 60AA stipulates that the tax adjusted income of the Shareholders’
Fund shall be ascertained by taking into account the amount of income distributed or credited from Family and General
Takaful Funds and as a result both General and Family Takaful Funds would have nil tax adjusted income. As such, capital
allowances claimable for the years of assessment from 1997 to 2008 would be carried forward indefinitely as the operator’s
share of profits from the Family and General Funds will be taxed in the Shareholders’ Fund.
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Notes to the financial statements
41 Contingent liabilities (Continued)
The Company has presented the issue on non-deductibility of capital allowances to the Ministry of Finance (MOF) on 30
March 2009. The MOF has agreed via letter dated 2 April 2009 to review the tax issue and thereafter, will advise the Company
accordingly. No provision has been made by the Company for the potential tax liabilities of the previous and current years
pending the outcome of the said discussion and future appeals. The potential tax exposure to the Company assuming that the
deduction of capital allowances in Shareholders’ Fund is rejected by the MOF is approximately RM18.2 million. In addition,
the Company would have to reverse its current balance of deferred tax asset which is in relation to unabsorbed capital
allowances brought forward by approximately RM5.6 million.
42 Comparatives
Certain comparative figures have been reclassified during the year to conform with current year presentation as follows:
Group
Shareholders’ Fund
Family Takaful
General Takaful
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
As
As
As
previously previously previously
Income Statements / Revenue Accounts Restated stated Restated stated Restated stated
Gross contributions
-
- 655,890 647,033 269,104 254,435
Retakaful
-
-
-
- (86,604) (66,390)
Wakalah fee income/(expense)
33,021 - (15,312)
- (17,709)
Net admin fee -
-
(8,857)
-
855 Investment income
9,487 17,472 117,439 172,466 23,914 30,244
Other operating income
27,478 53,687 57,973 13,912 19,178 14,792
Management expenses (142,189) (124,080)
-
-
-
Other operating expenses (59,500) (78,782)
6,914 (19,364) (21,940) (46,283)
Company
Shareholders’ Fund
Family Takaful
General Takaful
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
As
As
As
previously previously previously
Income Statements / Revenue Accounts Restated stated Restated stated Restated stated
Gross contributions
-
-
Retakaful
-
-
Net admin fee -
-
Investment income
5,975 13,510 Other operating income
21,384 15,022 Management expenses (121,429) (103,320)
Other operating expenses (10,159) (29,441)
538,546 -
(8,857)
112,750 51,271 -
12,163 529,689 -
-
161,875 13,112 -
1,197 208,041 (72,738)
5,545 22,918 17,492 -
(21,158)
193,372
(52,524)
29,248
13,106
(23,102)
149
150
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Perjanjian Jualbeli/
Net Book
Date of
Value as at
Revaluation/
30.06.2009
Date of Sale
(RM)
and Purchase
Agreement
1
Lot 557 & 559
Plaza Melaka
Jalan Hang Tuah
75300 Melaka
Dua unit Rumah kedai/
Pejabat 4 1/2 tingkat
Two units of 4 1/2 storey
Shophouse/Office
Pegangan Bebas
Freehold
26
3,485/
14,434
1,471,070
25.03.2009
2
Lot 1 & 2
Kompleks
Perniagaan Fajar
91000 Tawau
Sabah
Tiga unit Kompleks
Perniagaan/
Pejabat 4 tingkat
Three units of 4 storey
Commercial Complex/
Office
Pajakan bandar 999
tahun berakhir pada
31.12.2895
999 years town
lease expiring
on 31.12.2895
18
4,025/
6,037
2,235,000
30.06.2009
3
No. 64 & 65
Kompleks Jitra
Jalan Sungai Korok
06000 Jitra
Kedah Darul Aman
Dua unit Rumah kedai/
Pejabat 2 tingkat
Two units of 2 storey
Shophouse/Office
Pegangan Bebas
Freehold
23
3,095/
6,935
545,000
30.06.2009
4
No. 23
Medan Istana 3
Bandar Ipoh Raya
30450 Ipoh
Perak Darul Ridzuan
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
30.03.2081
99 years lease expiring
on 30.03.2081
14
1,539/
4,255
400,000
30.06.2009
5
No. 84
Batu 3 1/4
Jalan Gombak
53000 Kuala Lumpur
Satu unit Rumah kedai/
Pejabat 5 tingkat
One unit of 5 storey
Shophouse/Office
Pegangan Bebas
Freehold
23
1,883/
8,700
850,000
30.06.2009
6
Lot 6966, Blok 59
Muara Tuang
Jalan Datok Mohd Musa
94300 Kota Samarahan
Sarawak
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 60 tahun
berakhir pada
31.12.2053
60 years lease expiring
on 31.12.2053
14
1,312/
3,750
550,000
30.06.2009
7
Lot 54 & 55
Bandar Wilayah Jasa
Jalan Bunga Raya
91100 Lahad Datu
Sabah
Dua unit Rumah kedai/
Pejabat 3 tingkat
Two units of 3 storey
Shophouse/Office
Pajakan bandar
99 tahun berakhir
pada 31.12.2090
99 years town lease
expiring on 31.12.2090
14
2,400/
7,200
1,302,307
30.06.2009
(Lot 54)/
27.12.1995
(Lot 55)
8
No. 24
Jalan USJ 10/1B
47620 UEP Subang Jaya
Selangor Darul Ehsan
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pegangan Bebas
Freehold
15
3,200/
9,600
3,514,617
08.06.1996
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Perjanjian Jualbeli/
Net Book
Date of
Value as at
Revaluation/
30.06.2009
Date of Sale
(RM)
and Purchase
Agreement
9
No. 15 & 17
Jalan Kelibang
Langkawi Mall
07000 Kuah, Langkawi
Kedah Darul Aman
Dua unit Rumah kedai/
Pejabat 2 tingkat
Two units of 2 storey
Shophouse/Office
Pegangan Bebas
Freehold
16
1,440/
7,720
470,000
30.06.2009
10
No. 26 & 28
Jalan Perda Barat
Bukit Mertajam
Seberang Prai
14000 Penang
Dua unit Rumah kedai/
Pejabat 3 tingkat
Two units of 3 storey
Shophouse/Office
Pegangan bebas
Freehold
11
3,293/
8,840
1,000,000
30.06.2009
11
Lot 2, 3 & 4
Jalan Kulas
93400 Kuching
Sarawak
Tiga unit Rumah kedai/
Pejabat 3 tingkat
Three units of 3 storey
Shophouse/Office
Pegangan Bebas
Freehold
14
4,817/
18,892
4,751,930
30.06.2009
12
No. 14 & 16
Jalan Ibrahim
81900 Kota Tinggi
Johor Darul Ta’zim
Dua unit Rumah kedai/
Pejabat 3 tingkat
Two units of 3 storey
Shophouse/Office
Pajakan 99 tahun
Lot 14 berakhir pada
08.05.2082
Lot 16 berakhir pada
04.12.2078
99 years lease
Lot 14 expiring on
08.05.2082
Lot 16 expiring on
04.12.2078
23
3,360/
8,544
800,000
30.06.2008
13
No. 312
Jalan Bandar 13
Taman Melawati
53100 Kuala Lumpur
Satu unit Rumah kedai/
Pejabat 4 tingkat
One unit of 4 storey
Shophouse/Office
Pegangan Bebas
Freehold
15
1,920/
7,070
1,245,000
30.06.2009
14
No. 20, Fasa 1A
Jalan Haji Manan
86000 Kluang
Johor Darul Ta’zim
Satu unit Rumah kedai/
Pejabat 4 tingkat
One unit of 4 storey
Shophouse/Office
Pajakan 99 tahun
99 years lease
13
2,658/
9,930
1,750,000
30.06.2009
15 No. 64 - D
Leboh Bishop
10200 Pulau Pinang
Satu unit bangunan
Pejabat 6 tingkat (9 level)
One unit of 6 storey
Office building (9 level)
Pegangan Bebas
Freehold
32
3,972/
19,630
4,000,000
30.06.2009
16
Dua unit bangunan
Pejabat 3 tingkat
Two units of 3 storey
Office building
Pajakan 999 tahun
berakhir pada
30.06.2902
999 years lease
expiring on
30.06.2902
15
2,504/
7,200
1,689,200
30.06.2009
(Lot 13)/
14.01.1997
(Lot 14)
Lot 13 & 14
Lazenda Commercial
Centre
Jalan Okk Abdullah
87007 Wilayah
Persekutuan Labuan
151
152
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Net Book
Perjanjian Jualbeli/
Value as at
Date of
30.06.2009
Revaluation/
(RM)
Date of Sale
and Purchase
Agreement
17
Lot 6967, Blok 59
Muara Tuang
Jalan Datok Mohd Musa
94300 Kota Samarahan
Sarawak
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 60 tahun
berakhir pada
31.12.2053
60 years lease
expiring on
31.12.2053
14
1,312/
3,750
550,000
30.06.2009
18
Lot 28, 30 & 32
Jalan 2/3A, Pasar Borong
68100 Selayang
Selangor Darul Ehsan
Tiga unit Rumah kedai/
Pejabat 4 tingkat
Three units of 4 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
11.03.2086
99 years lease
expiring on
11.03.2086
22
4,447/
16,800
2,040,000
30.06.2009
19
Lot 12680
Level 1 & Mezzanine
Jalan Bukit Timbalan
80000 Johor Bharu
Johor Darul Ta’zim
Dua tingkat bangunan
Pejabat 13 tingkat
Two floors of 13 storey
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
11
8,354*
2,820,000
30.06.2009
20
Lot 12680
Level 3,
Jalan Bukit Timbalan
80000 Johor Bharu
Johor Darul Ta’zim
Satu tingkat bangunan
Pejabat 13 tingkat
One floor of 13 storey
Office building
Pajakan 99 tahun
berakhir pada
26.07.2080
99 years lease
expiring on
26.07.2080
11
6,594*
1,650,000
30.06.2009
21
Lot 14(S1) & 15(S1)
Indah Point, Section 12
Pulau Indah Industrial Park
42000 Klang,
West Port
Selangor Darul Ehsan
Dua unit Rumah kedai/
Pejabat 4 tingkat (kosong)
Two units of 4 storey
Shophouse/Office (vacant)
Pajakan 99 tahun
berakhir pada
24.02.2097
99 years lease
expiring on
24.02.2097
10
3,300/
10,560
810,000
30.06.2009
22
No. 1 & 2
Jalan Kelicap
Taman Pekan Baru
34200 Parit Buntar
Perak Darul Ridzuan
Dua unit Rumah kedai/
Pejabat 2 tingkat
Two units of 2 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
05.09.2078
99 years lease
expiring on
05.09.2078
22
3,956/
7,044
700,000
30.06.2009
23
No. 46 & 47,
Darul Takaful
Jalan Rahmat
83000 Batu Pahat
Johor Darul Ta’zim
Dua unit Rumah kedai/
Pejabat 4 tingkat
Two units of 4 Storey
Shophouse/Office
Pegangan Bebas
Freehold
20
3,220/
12,092
1,400,000
30.06.2009
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Net Book
Perjanjian Jualbeli/
Value as at
Date of
30.06.2009
Revaluation/
(RM)
Date of Sale
and Purchase
Agreement
24
No. 180 & 181
Jalan Tuan Hitam
22000 Jerteh
Terengganu Darul Iman
Dua unit Rumah kedai/
Pejabat 4 tingkat
Two units of 4 storey
Shophouse/Office
Pegangan Bebas
Freehold
19
3,200/
12,250
1,430,000
30.06.2009
25
Lot 82, 84 & 86
Jalan Rugbi 13/30
Seksyen 13
40100 Shah Alam
Selangor Darul Ehsan
Tiga unit Rumah kedai/
Pejabat 2 tingkat
Three units of 2 storey
Shophouse/Office
Pegangan Bebas
Freehold
10
6,339/
11,309
2,240,000
30.06.2009
26
No. 229, Jalan Shahab 2
Shahab Perdana
Jalan Sultanah Sambungan
05350 Alor Star
Kedah Darul Aman
Satu unit Rumah kedai/
Pejabat 2 1/2 tingkat
One unit of 2 1/2 storey
Shophouse/Office
Pegangan Bebas
Freehold
13
1,400/
3,570
250,000
30.06.2009
27
Lot No. 3803
Jalan Dato’ Ulu Muar
72000 Kuala Pilah
Negeri Sembilan
Darul Khusus
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
06.10.2079
99 years lease
expiring on
06.10.2079
10
2,001/
3,120
405,000
30.06.2009
28
No. 45
Jalan Teluk Sisek
25000 Kuantan
Pahang Darul Makmur
Satu unit Rumah kedai/
Pejabat 4 tingkat
One unit of 4 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
18.09.2068
99 years lease
expiring on
18.09.2068
9
3,200/
8,019
2,000,000
30.06.2009
29
No. 27, 29 & 31
Pusat Komersil Temerloh
28000 Temerloh
Pahang Darul Makmur
Tiga unit Rumah kedai/
Pejabat 2 1/2 tingkat
Three units of 2 1/2 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
01.04.2095
99 years lease
expiring on
01.04.2095
9
4,195/
15,050
1,320,000
30.06.2009
30
No. 2 & 4
Jalan 6C/7
43650 Bandar Baru Bangi
Selangor Darul Ehsan
Dua unit Rumah kedai/
Pejabat 2 tingkat
Two units of 2 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
08.07.2086
99 years lease
expiring on
08.07.2086
22
6,383/
8,032
1,500,000
30.06.2009
153
154
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Net Book
Perjanjian Jualbeli/
Value as at
Date of
30.06.2009
Revaluation/
(RM)
Date of Sale
and Purchase
Agreement
31
Lot 14
Arab Malaysian
Business Centre
Jalan Pasar
70000 Seremban
Negeri Sembilan
Darul Khusus
Satu unit Rumah kedai/
Pejabat 6 tingkat
One unit of 6 storey
Shophouse/ Office
Pegangan Bebas
Freehold
13
1,500/
14,589
3,375,000
30.06.2009
32
Tingkat Bawah & Mezzanine
Wisma Abrar International
Lot 54, Seksyen 8
15350 Kota Bharu
Kelantan Darul Naim
Satu tingkat bangunan
Pejabat 8 1/2 tingkat
One floor of 8 1/2 storey
Office building
Pegangan Bebas
Freehold
12
7,925*
3,700,000
30.06.2009
33
No. 29, Jalan Delima
Pusat Perdagangan Pontian
82000 Pontian
Johor Darul Ta’zim
Satu unit Rumah kedai/
Pejabat 3 tingkat
One unit of 3 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
25.09.2097
99 years lease
expiring on
26.09.2097
8
3,899/
10,248
1,250,000
30.06.2009
34
Lot 11 & 12
Kompleks Seri Temin
Jalan Ibrahim
08000 Sungai Petani
Kedah Darul Aman
Dua unit Rumah kedai/
Pejabat 4 tingkat
Two units of 4 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
03.10.2080
99 years lease
expiring on
03.10.2080
24
2,800/
11,020
1,300,000
30.06.2009
35
Lot 1129 & 1130
Bangunan Darul Takaful
Jalan Sultan Ismail
20100 Kuala
Terengganu
Terengganu Darul Iman
Satu unit bangunan
Pejabat 12 tingkat
One unit of 12 storey
Office building
Pajakan kecil 35 tahun
berakhir pada
27.02.2037
35 years sub lease
expiring on 27.02.2037
7
3,600/
23,637
6,600,000
30.06.2009
36
No. 616 & 617
Jalan Besar
73000 Tampin
Negeri Sembilan
Darul Khusus
Dua unit bangunan
Pejabat 2 tingkat
Two units of 2 storey
Office building
Pajakan 99 tahun
berakhir pada
05.10.2088
99 year lease
expiring on
05.10.2088
17
4,498/
8,685
950,000
30.06.2009
Pajakan 99 tahun
berakhir pada
08.07.2086
99 year lease
expiring on
08.07.2086
22
1,905/
3,508
650,000
30.06.2009
37 No. 6, Jalan 6C/7
Satu unit Rumah kedai/
43650 Bandar Baru Bangi Pejabat 2 tingkat
Selangor Darul Ehsan
One unit of 2 storey
Shophouse/Office
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Net Book
Perjanjian Jualbeli/
Value as at
Date of
30.06.2009
Revaluation/
(RM)
Date of Sale
and Purchase
Agreement
38
Suite 3B/G
Blok 3B, Plaza Sentral
Jalan Stesen Sentral 5
50470 Kuala Lumpur
Satu tingkat bangunan
Pejabat 22 tingkat
One floor of 22 storey
Office building
Pegangan bebas
Freehold
8
6,409*
6,000,000
30.06.2009
39
No. 26 & 27
Jalan Tanjung Pasar Baru
18500 Machang
Kelantan Darul Naim
Dua unit bangunan
Pejabat 2 tingkat
Two units of 2 storey
Office building
Pajakan 99 tahun
berakhir pada
13.11.2080
99 years lease
expiring on
13.11.2080
28
1,600/
4,000
560,000
30.06.2009
40
No. 330 & 331
Jalan Sultan Yahya Petra
15720 Kota Bharu
Kelantan Darul Naim
Dua unit bangunan
Pejabat 4 1/2 tingkat
Two units of 4 1/2 storey
Office building
Pajakan 99 tahun
berakhir pada
09.12.2069
99 years lease
expiring on
09.12.2069
27
3,200/
15,200
1,700,000
30.06.2009
41
Dataran Kewangan
Darul Takaful
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Dua unit bangunan
Pejabat
Blok Utama - 26 tingkat
Blok Annex - 29 tingkat
Two units of
Office building
Main Block - 26 storey
Annexe Block - 29 storey
Pegangan Bebas
Freehold
Blok Utama/
Main Block
- 36
Blok Annex/
Annexe Block
- 29
90,427/
393,508
158,000,000
30.06.2009
42
No. 2408
Taman Samudera
32040 Sri Manjung
Perak Darul Ridzuan
Satu unit Rumah kedai/
Pejabat 2 tingkat
One unit of 2 storey
Shophouse/Office
Pajakan 99 tahun
berakhir pada
19.05.2091
99 years lease
expiring on
19.05.2091
13
2,800/
5,300
780,000
30.06.2009
43
No. 76A & 76
Pusat Perniagaan
Jalan Tupai
34000 Taiping
Perak Darul Ridzuan
Dua unit bangunan
Pejabat 3 tingkat
Two units of 3 storey
Office building
Pegangan Bebas
Freehold
6
3,134/
18,304
1,530,000
30.06.2009
44
No. 10 & 11
Jalan Sultan Yahya Petra
15200 Kota Bharu
Kelantan Darul Naim
Dua unit bangunan
Pejabat 3 tingkat
Two units of 3 storey
Office building
Pajakan 33 tahun
berakhir pada
08.09.2037
33 years lease
expiring on
08.09.2037
7
3,852/
9,120
1,800,000
30.06.2009
155
156
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Maklumat Hartanah
Particulars of Properties
No.
Lokasi/
Location
Penerangan
Kegunaan/
Description of
Existing Use
Hakmilik/
Tenure
Usia
Bangunan/
Age of
Building
(tahun/years)
Keluasan
Tanah,
Kawasan Bina/
Land,
Built-up Area
(kaki persegi/
square feet)
Nilai Buku Tarikh Penilaian
Bersih pada/ Semula/Tarikh
Net Book
Perjanjian Jualbeli/
Value as at
Date of
30.06.2009
Revaluation/
(RM)
Date of Sale
and Purchase
Agreement
45
No. 4197
Jalan Teluk Wanjah
05200 Alor Star
Kedah Darul Aman
Satu unit bangunan
Pejabat 4 tingkat
One unit of 4 storey
Office building
Pegangan Bebas
Freehold
7
8,716/
18,440
3,700,000
30.06.2009
46
No. 10 & 8,
Jalan Padi Emas 5/2,
Bandar Baru UDA
81200 Johor Bharu,
Johor Darul Ta’zim
Dua unit bangunan
Pejabat 3 tingkat
Two unit of 3 storey
Office building
Pajakan 99 tahun berakhir
pada 16.02.2099
99 years lease expiring
on 16.02.2099
4
3,080/
8,024
1,300,000
30.06.2009
47
No. 4,
Kompleks Seri Temin
Jalan Ibrahim
08000 Sungai Petani,
Kedah Darul Aman
Satu unit bangunan
Pejabat 4 tingkat
One unit of 4 storey
Office building
Pajakan 99 tahun berakhir
pada 03.10.2080
99 years lease expiring
on 03.10.2080
24
1,400/
5,510
650,000
30.06.2009
48
No. 16, Jalan Cenderawasih
Jalan Kilang Lama
09000 Kulim,
Kedah Darul Aman
Satu unit bangunan
Pejabat 3 tingkat
One unit of 3 storey
Office building
Pegangan Bebas
Freehold
10
1,600/
4,172
400,000
30.06.2009
49
Lot 1340, Miri Waterfront
Commercial Centre,
98000 Miri
Sarawak
Satu unit bangunan
Pejabat 4 tingkat
One unit of 4
storey Office building
Pajakan 60 tahun
berakhir 30.09.2052
60 years expiring
on 30.09.2052
5
1,400/
5,500
1,000,000
30.06.2009
50
No. 6, Jalan Padi Emas
5/2, Bandar Baru UDA
81200 Johor Bharu,
Johor Darul Ta’zim
Satu unit bangunan
Pejabat 3 tingkat
One unit of 3 storey
Office building
Pajakan 99 tahun berakhir
pada 16.02.2099
99 years lease expiring
on 16.02.2099
4
1,540/
4,012
650,000
30.06.2009
51 No. 148, Kompleks
Munshi Abdullah
75200 Melaka
Satu unit bangunan
Pejabat 4 ½ tingkat
One unit of 4 ½ storey
Office building
Pajakan 99 tahun berakhir
pada 23.04.2102
99 years lease expiring
on 23.04.2102
16
1,470/
6,117
750,000
30.06.2009
52
No. 16474 & 16475,
Pusat Perniagaan
Inderapura,
Jalan Tras Raub,
Pahang Darul Makmur
Dua unit bangunan
Pejabat 3 tingkat
Two unit of 3 storey
Office building
Pajakan 99 tahun berakhir
pada 29.06.2092
99 years lease expiring
on 29.06.2092
10
3,218/
9,280
1,300,000
30.06.2009
Jumlah/Total
* Kawasan Bina/Build up Area
243,634,124
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statistik Pegangan Saham
Shareholdings Statistics
Modal Saham/Share Capital
Modal Dibenarkan
: 500,000,000 saham biasa bernilai RM1.00 sesaham
Authorised capital 500,000,000 ordinary shares of RM1.00 each
Modal yang diterbitkan dan dibayar sepenuhnya pada 14 September 2009 : 162,817,000 saham biasa bernilai RM1.00 sesaham
Issued and fully paid-up capital as at 14 September 2009 162,817,000 ordinary shares of RM1.00 each
Jumlah pemegang saham pada 14 September 2009
No. of shareholders as at 14 September 2009
: 1,723
Kelas saham
: Saham biasa bernilai RM1.00 sesaham
Class of shares Ordinary shares of RM1.00 each
Hak mengundi
: 1 undi bagi setiap saham biasa
Voting right 1 vote per ordinary share
Pemegang-Pemegang Saham Utama (5% Dan Lebih)
Substantial Shareholders’ Shareholdings (5% And Above)
Nama Pemegang Saham
Name of Shareholders
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
BIMB Holdings Berhad
106,183,675
65.22
Jumlah/Total
106,183,675
65.22
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
-
-
Y. Bhg. Dato’ Mohamed Hassan b. Md. Kamil
-
-
Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar, SSAP, SIMP, DSAP
-
-
Puan Rozaida bt. Omar
-
-
Encik Mahadzir b. Azizan
-
-
Y. Bhg. Dato’ Sulaiman b. Mohd Yusof
-
-
Pegangan Saham Para Pengarah Pada 14 September 2009
Directors’ Shareholdings as at 14 September 2009
Nama Pengarah
Name of Directors
Encik Johan b. Abdullah
157
158
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statistik Pegangan Saham
Shareholdings Statistics
Analisa Pegangan Saham Mengikut Saiz Pada 14 September 2009
Analysis By Size of Shareholdings as at 14 September 2009
Saiz Pegangan Saham
Size of Shareholdings
Kurang dari 100
Less than 100
Bilangan Peratus (%)
Pemegang Saham Percentage (%)
Number of Shareholders
Jumlah
Pegangan Saham
Number of
Shareholdings
Peratus (%)
Percentage (%)
69
4.00
1,695
0.00
257
14.92
175,805
0.10
1,143
66.33
3,772,400
2.32
10,001 - 100,000
200
11.61
6,443,700
3.96
100,001 sehingga kurang daripada 5% saham diterbitkan
100,001 to less than 5% of issued shares
53
3.08
46,238,275
28.40
5% dan lebih saham diterbitkan
5% and above of issued shares
1
0.06
106,183,675
65.22
1,723
100.00
162,817,000
100.00
100 - 1,000
1,001 - 10,000
Jumlah/Total
Tiga Puluh (30) Pemegang Saham Terbesar Pada 14 September 2009
Thirty (30) Largest Shareholders as at 14 September 2009
Nama Pemegang Saham
Names of Shareholders
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
BIMB Holdings Berhad
106,183,675
65.22
Bimsec Nominees (Asing) Sdn Bhd
(Islamic Development Bank)
7,000,000
4.30
Employees Provident Fund Board
6,233,020
3.83
Affin Nominees (Tempatan) Sdn Bhd
(Affin Fund Management Sdn Bhd for Majlis Ugama Islam Dan
Adat Resam Melayu Pahang)
4,602,000
2.83
RHB Nominees (Asing) Sdn Bhd
(RUSD Investment Bank Inc.)
4,061,500
2.49
Lembaga Kemajuan Tanah Persekutuan (FELDA)
2,961,400
1.82
Majlis Agama Islam Negeri Sembilan
2,070,900
1.27
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statistik Pegangan Saham
Shareholdings Statistics
Nama Pemegang Saham
Name of Shareholders
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
Cimsec Nominees (Tempatan) Sdn Bhd
(Exempt An for CMS Trust Management Bhd)
1,623,100
1.00
Cheah See Han
1,599,200
0.98
Kenanga Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Majlis Agama Islam Dan
Adat Melayu Terengganu (STC))
1,554,600
0.95
Wong Chow Weng
1,000,000
0.61
Majlis Agama Islam Melaka
998,250
0.61
Bank Kerjasama Rakyat Malaysia Berhad
687,000
0.42
HSBC Nominees (Asing) Sdn Bhd
(Exempt An for Credit Suisse (SG BR-TST-Asing))
583,900
0.36
A.A. Anthony Nominees (Tempatan) Sdn Bhd (Pledged Securities Account for Vimala Sgulboonrasi)
530,000
0.33
Saleem Abdullatif Mustafa
518,600
0.32
Public Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Lee Chow Yong (E-KPG/WMU)
517,100
0.32
Kumpulan Wang Simpanan Pekerja
500,000
0.31
Universiti Sains Malaysia
500,000
0.31
Mah Yu Lan 500,000
0.31
Chua Seng Sam
465,055
0.29
Lim Khuan Eng
458,100
0.28
Mayban Nominees (Tempatan) Sdn Bhd
(Pledged Securities Account for Yeoh Ah Tu)
448,000
0.28
HDM Nominees (Asing) Sdn Bhd (DBS Vickers Secs (S) Pte Ltd for Mcneill Michael Mbamali)
413,000
0.25
Majlis Agama Islam Dan Adat Melayu Perak Darul Ridzuan
400,000
0.25
Amin Baitulmal Johor
400,000
0.25
Miss Wipaporn Limprana
350,000
0.21
159
160
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Statistik Pegangan Saham
Shareholdings Statistics
Nama Pemegang Saham
Name of Shareholders
Jumlah Saham
Number of Shares
Peratus (%)
Percentage (%)
HSBC Nominees (Tempatan) Sdn Bhd
(HSBC (M) Trustee Bhd for Prudential Dana Al-Ilham (4173))
335,000
0.21
Rommel Josef
330,000
0.20
Citigroup Nominees (Tempatan) Sdn Bhd (Exempt An for Prudential Fund Management Berhad)
323,000
0.20
148,146,400
90.99
Jumlah/Total
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
WILAYAH PERSEKUTUAN
1. W01 Ibu Pejabat
Tingkat 26, Blok Annex
Dataran Kewangan Darul Takaful
No.4 Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 03-2268 1984
Faks : 03-2274 0237
Toll Free : 1-300-8-8252385
Web : http://www.takaful-malaysia.com.my
2. W03 Cawangan Jalan Tun Razak
Lot 1, Tingkat 17
Bangunan Ibu Pejabat Tabung Haji
201 Jalan Tun Razak
50400 Kuala Lumpur
Tel : 03-2162 1307
Fax : 03-2164 7446
3. W04 Cawangan KL Sentral
Lot CS / 3B / G, Tingkat Bawah
Plaza Sentral, Jalan Stesen Sentral 5
50470 Kuala Lumpur
Tel : 03-2273 7691
Fax : 03-2274 1907
4. W05 Cawangan Taman Melawati
No. 312C, Tingkat 2, Darul Takaful
Jalan Bandar 13, Taman Melawati
53100 Kuala Lumpur
Tel : 03-4106 5854
: 03-4106 3718
Fax : 03-4106 5869
5. W09 Cawangan Putrajaya
Tingkat 1, Blok E 16
Parcel E, Precinct 1 Anjung
62000 Putrajaya
Wilayah Persekutuan
Tel : 03-8889 5261
Fax : 03-8889 5262
6. KL01 Cawangan Kuala Lumpur
Tingkat Bawah, Blok Annex
Menara Tun Razak, Jalan Raja Laut
50350 Kuala Lumpur
Tel : 03-2698 7039
: 03-2698 7034
Fax : 03-2691 7511
7. Z33 Treasury Business Centre
Aras 1, Blok Selatan
Perbendaharaan 2
Kompleks Kementerian Kewangan
No. 7, Persiaran Perdana
Presint 2, Pusat Pentadbiran Kerajaan Persekutuan
62592 Putrajaya
Wilayah Persekutuan
Tel : 03-8890 3588
Fax : 03-8890 3599
SELANGOR DARUL EHSAN
8. B01 Cawangan Klang
Lot 17, Tingkat 1, Jalan Taman
41400 Klang
Selangor Darul Ehsan
Tel : 03-3341 8204
: 03-3344 8713
: 03-3344 6055
Fax : 03-3344 5724
9. B04 Cawangan Shah Alam S13
Tingkat Bawah, Darul Takaful
Lot No. 82, 84, 86
Jalan Rugbi 13/30, Seksyen 13
40100 Shah Alam
Selangor Darul Ehsan
Tel : 03-5511 7943
: 03-5511 7944
: 03-5511 7945
: 03-5510 7668
Fax : 03-5511 7946
10. B06 Cawangan Petaling Jaya
No.10-2 & 12-2, Tingkat 1
Jalan 14/22, The Right Angle
46100 Petaling Jaya
Selangor Darul Ehsan
Tel : 03-7955 2723
: 03-7957 9533
: 03-7958 3533
Fax : 03-7958 3533
11. B08 Cawangan Kajang
No. 5A, Plaza Kajang
Jalan Dato’ P. Algendra 1
43000 Kajang
Selangor Darul Ehsan
Tel : 03-8734 6479
: 03-8737 6591
Fax : 03-8734 6480
161
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Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
12. B09 Cawangan Subang Jaya
No. 24, Tingkat 2, Darul Takaful
Jalan USJ 10/1B
47500 Subang Jaya
Selangor Darul Ehsan
Tel : 03-5637 9387
Fax : 03-5637 9391
13. B10 Cawangan Tanjong Karang
No. 732 A, Tingkat Atas
Rumah Kedai Mara
45500 Tanjong Karang
Selangor Darul Ehsan
Tel : 03-3269 3197
: 03-3269 8011
Fax : 03-3269 3712
14. B12 Cawangan Shah Alam S9
No. 15, Tingkat 1
Jalan Tengku Ampuan Zabedah 9/B
Seksyen 9
40000 Shah Alam
Selangor Darul Ehsan
Tel : 03-5519 6141
: 03-5510 5248
: 03-5510 2162
Fax : 03-5510 6249
KEDAH DARUL AMAN
15. K01 Cawangan Alor Setar
No. 229, Jalan Shahab 2, Shahab Perdana
Jalan Sultanah Sambungan
05150 Alor Setar
Kedah Darul Aman
Tel : 04-733 4722
: 04-730 7472
: 04-731 9933
Fax : 04-730 2414
16. K02 Cawangan Sungai Petani
No. 4, Kompleks Seri Temin
Jalan Ibrahim
08000 Sungai Petani
Kedah Darul Aman
Tel : 04-421 4510
: 04-425 6588
: 04-423 0716
Fax : 04-425 7588
17. K03 Cawangan Kulim
No. 16, Taman Cenderawasih
Jalan Tuanku Putra
09000 Kulim
Kedah Darul Aman
Tel : 04-490 6306
: 04-495 0615
Fax : 04-491 1241
18. K06 Cawangan Langkawi
No. 15, Tingkat 1, Darul Takaful
Jalan Kelibang, Langkawi Mall
07000 Kuah
Kedah Darul Aman
Tel : 04-966 6242
: 04-966 0052
Fax : 04-966 6394
PERLIS INDERA KAYANGAN
19. R01 Cawangan Kangar
No. 55, Tingkat 1, Lorong Seruling
Jalan Bukit Lagi
01000 Kangar
Perlis Indera Kayangan
Tel : 04-976 2901
: 04-977 7804
: 04-977 1889
Fax : 04-977 7805
PULAU PINANG
20. P01 Cawangan Bandar Perda
No. 28, Jalan Perda Barat 1
Bandar Baru Perda
14000 Bukit Mertajam
Pulau Pinang
Tel : 04-537 8573
: 04-538 8479
Fax : 04-537 8650
21. P03 Cawangan Georgetown
No. 64-D, Aras 8, Darul Takaful
Leboh Bishop
10200 Georgetown
Pulau Pinang
Tel : 04-263 7719
: 04-263 8376
Fax : 04-263 8400
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
22. P05 Cawangan Kepala Batas
No. 2148, Tingkat Bawah & 1
Jalan Bertam
13200 Kepala Batas
Seberang Perai Utara, Pulau Pinang
Tel : 04-574 1594
: 04-575 9278
Fax : 04-574 1596
27. A04 Cawangan Parit Buntar
No. 2, Tingkat 1
Jalan Kelichap, Pekan Baru
34200 Parit Buntar
Perak Darul Ridzuan
Tel : 05-716 1003
: 05-717 2653
Fax : 05-717 2733
23. P09 Cawangan Gelugor
No. 2480, Tingkat Bawah
Jalan Sultan Azlan Shah
11700 Gelugor
Pulau Pinang
Tel : 04-658 8240
Fax : 04-658 8243
28. A06 Cawangan Telok Intan
Lot. 51-1, Jalan Intan 2, Bandar Baru
36000 Telok Intan
Perak Darul Ridzuan
Tel : 05-622 7790
: 05-622 6202
Fax : 05-622 9311
PERAK DARUL RIDZUAN
24. A01 Cawangan Ipoh
No. 23A, Medan Istana 3
Bandar Ipoh Raya
30000 Ipoh
Perak Darul Ridzuan
Tel : 05-255 3888
: 05-242 1824
: 05-243 5201
Fax : 05-255 1462
25. A02 Cawangan Bandar Baru Sri Manjung
No. 2406, Taman Samudera
32040 Sri Manjung
Perak Darul Ridzuan
Tel : 05-688 1186
: 05-688 6211
Fax : 05-688 7211
26. A03 Cawangan Taiping
No 76, Tingkat 1 & 2, Darul Takaful
Pusat Perniagaan Taiping
Jalan Tupai
34000 Taiping
Perak Darul Ridzuan
Tel : 05-807 9876
: 05-807 6588
: 05-804 1782
Fax : 05-808 7588
29. A10 Cawangan Tanjong Malim
Lot 427, No 35-1 Jalan Bunga Anggerik
Taman Bunga Raya
35900 Tanjung Malim
Perak Darul Ridzuan
Tel : 05-458 2115
: 05-459 6896
Fax : 05-458 2116
NEGERI SEMBILAN DARUL KHUSUS
30. N01 Cawangan Seremban
Darul Takaful, Suite 14-4
Arab Malaysia Business Centre
Jalan Pasar
70000 Seremban
Negeri Sembilan Darul Khusus
Tel : 06-763 4604
: 06-763 0369
: 06-767 5306
Fax : 06-764 9528
31. N04 Cawangan Tampin
Lot. 40 & 41, Tingkat 1
Jalan Besar Pulau Sebang
73000 Tampin
Negeri Sembilan Darul Khusus
Tel : 06-441 2363
: 06-441 9722
Fax : 06-441 9121
163
164
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
32. N07 Cawangan Bahau
No. 19, Tingkat 1, Jalan Mahligai
72100 Bahau
Negeri Sembilan Darul Khusus
Tel : 06-454 0796
Fax : 06-454 0681
MELAKA BANDARAYA BERSEJARAH
33. M01 Cawangan Melaka
148, Kompleks Munsyi Abdullah
Jalan Munshi Abdullah
75100 Melaka
Tel : 06-284 9633
: 06-288 3054
: 06-281 4985
Fax : 06-288 1341
34. M02 Cawangan Masjid Tanah
SU 953 Jalan Bandar Baru 6
Taman Bandar Baru Masjid Tanah
78300 Masjid Tanah
Melaka
Tel : 06-384 7233
Fax : 06-384 8533
35. M03 Cawangan Jasin
JA 6127, Tingkat Bawah
Taman Maju
77000 Jasin
Melaka
Tel : 06-529 1067
Fax : 06-529 8418
JOHOR DARUL TA’ZIM
36. J01 Cawangan Johor Bahru
No.8, Aras 3, Menara Perisind
Jalan Bukit Timbalan
80000 Johor Bahru
Johor Darul Ta’zim
Tel : 07-224 0369
: 07-224 5426
: 07-226 4645
Fax : 07-224 2089
37. J02 Cawangan Pontian
No. 52, Lot PTB 12821, Jalan Delima
Pusat Perdagangan Pontian
82000 Pontian
Johor Darul Ta’zim
Tel : 07-687 0727
: 07-687 1359
Fax : 07-687 1381
38. J03 Cawangan Muar
No. 5-4, Tingkat Bawah
Jalan Ibrahim
84000 Muar
Johor Darul Ta’zim
Tel : 06-952 8808
: 06-955 6206
: 06-952 2102
Fax : 06-953 1609
39. J04 Cawangan Batu Pahat
Tingkat 2, No. 46 & 47, Darul Takaful
Jalan Rahmat
83000 Batu Pahat
Johor Darul Ta’zim
Tel : 07-434 8560
: 07-432 5673
Fax : 07-433 2729
40. J06 Cawangan Kluang
20, Tingkat 2, Darul Takaful
Jalan Haji Manan
86000 Kluang
Johor Darul Ta’zim
Tel : 07-774 1053
: 07-772 1757
Fax : 07-776 8285
41. J08 Cawangan Segamat
No. 28A, Tingkat 1
Jalan Buluh Kasap
85000 Segamat
Johor Darul Ta’zim
Tel : 07-932 2217
Fax : 07-933 3046
PAHANG DARUL MAKMUR
42. C01 Cawangan Kuantan
Darul Takaful, No. 45, Tingkat 3
Jalan Teluk Sisek
25000 Kuantan
Pahang Darul Makmur
Tel : 09-514 1799
: 09-513 8980
: 09-513 0155
Fax : 09-513 1902
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
43. C02 Cawangan Temerloh
No. 27, Jalan Dato’ Bahaman 3
Darul Takaful
Pusat Dagangan Temerloh
28000 Temerloh
Pahang Darul Makmur
Tel : 09-296 5560
: 09-296 2595
Fax : 09-296 5417
48. T04 Cawangan Dungun
K-17, Tingkat Bawah
Jalan Baru Pak Sabah
23000 Dungun
Terengganu Darul Iman
Tel : 09-848 3022
: 09-845 6871
Fax : 09-845 8550
44. C03 Cawangan Raub
No. 41, Tingkat 1
Jalan Datuk Abdullah
27650 Raub
Pahang Darul Makmur
Tel : 09-355 5277
Fax : 09-355 8699
KELANTAN DARUL NAIM
TERENGGANU DARUL IMAN
45. T01 Cawangan Kuala Terengganu
Lot 1129 & 1130, Tingkat 2 & 3
Darul Takaful
Jalan Sultan Ismail, Off Jalan Banggol
20100 Kuala Terengganu
Terengganu Darul Iman
Tel : 09-623 3211
: 09-624 9486
: 09-622 3211
Fax : 09-623 9098
46. T02 Cawangan Kemaman
Lot 2.07 & 2.08, Tingkat 2
Wisma Serangkai
Jalan Sulaimani, Cukai
24000 Kemaman
Terengganu Darul Iman
Tel : 09-859 4796
: 09-858 6878
Fax : 09-858 3455
47. T03 Cawangan Jerteh
Lot 318, Tingkat 1
Jalan Tangki Air
Taman Jerteh
22000 Jerteh, Besut
Terengganu Darul Iman
Tel : 09-697 1989
: 09-690 4571
Fax : 09-690 4529
49. D01 Cawangan Kota Bharu
Lot. 331 & 332, Tingkat Bawah
Darul Takaful
Jalan Sultan Yahya Petra, Wakaf Siku
15200 Kota Bharu
Kelantan Darul Naim
Tel : 09-744 7277
: 09-747 8700
: 09-744 1408
: 09-743 9362
Fax : 09-748 6864
50. D02 Cawangan Machang
Lot 27, Tingkat 1
Jalan Tanjung
18500 Machang
Kelantan Darul Naim
Tel : 09-975 1789
: 09-975 8553
Fax : 09-975 7626
51. D05 Cawangan Gua Musang
Lot 4 & 5, Tingkat 1
Bangunan Tabung Haji Gua Musang
18300 Gua Musang
Kelantan Darul Naim
Tel : 09-912 4631
Fax : 09-912 5861
SARAWAK
52. Q01 Cawangan Kuching
Lot 435, Tingkat 1 & 2, Darul Takaful
Bangunan Tuanku Haji Mohammad Al-Edrus
Jalan Kulas
93400 Kuching
Sarawak
Tel : 082-242 725
: 082-235 121
: 082-247 904
: 082-252 045
Fax : 082-234 191
165
166
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Rangkaian Cawangan
Branch Network
53. Q03 Cawangan Miri
Darul Takaful
Lot 1340, Tingkat Bawah & 1
Miri Waterfront Commercial Centre
Jalan Waterfront
98000 Miri
Sarawak
Tel : 085-425 961
: 085-420 651
Fax : 085-411 724
54. Q04 Cawangan Sibu
No. 10H, Lot. 1735, Tingkat 1
Bangunan Koperasi Seduan
Jalan Kampong Datuk
96000 Sibu
Sarawak
Tel : 084-348 346
Fax : 084-325 276
SYARIKAT-SYARIKAT SUBSIDIARI
1. Asean Retakaful International (L) Ltd. (LL01129)
Level 14, Blok 4
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan
Labuan
Tel
: 087-451 301
: 087-451 302
: 087-451 303
Fax : 087-451 300
SABAH
2. P.T. Syarikat Takaful Indonesia
Graha A, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel
: 6221-799 1234
: 6221-799 2345
Fax : 6221-7919 8877
55. S01 Cawangan Kota Kinabalu
Lot. A 202 & 203, Tingkat 2, Blok A
Wisma Muis, Jalan Tengku Abdul Rahman
Peti Surat 16402, 88850 Kota Kinabalu
Sabah
Tel : 088-240 212
: 088-240 312
Fax : 088-240 313
3. P.T. Asuransi Takaful Keluarga
Graha B, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel
: 6221-799 1234
: 6221-799 2345
Fax : 6221-790 1435
56. S02 Cawangan Tawau
TB 268, Tingkat 1
Jalan Mahkamah
Kompleks Fajar
91000 Tawau
Sabah
Tel : 089-776 510
: 089-770 960
Fax : 089-756 697
4. P.T. Asuransi Takaful Umum
Graha A, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel
: 6221-799 1234
: 6221-799 2345
Fax : 6221-790 1944
57. S03 Cawangan Labuan
Lot 14, Tingkat 2, Darul Takaful
Lazenda Commercial Centre
Jalan Okk Abdullah
87007 Wilayah Persekutuan Labuan
Tel : 087-424 860
Fax : 087-418 418
Syarikat Takaful Malaysia Berhad • Laporan Tahunan 2009 Annual Report
Borang Proksi/Proxy Form
Saya / Kami / I / We ……………………………………………………………………………………………………………………….........................………………
sebagai Ahli / Ahli – Ahli Syarikat yang dinyatakan di atas dengan ini melantik
being a Member / Members of the abovenamed Company, hereby appoint
………………………………………..……………………………………………………………….…………......................................................………................
dari / of ………………………………………..……………………………………………………………….…………......................................................………...
atau / Pengerusi Mesyuarat jika beliau tidak dapat hadir / or the Chairman of the Meeting failing him.………………..............………………………..………
dari / of ………………………………….………………………………………………………..……………………………….........................................................
sebagai proksi saya / kami untuk mengundi bagi pihak saya / kami di MESYUARAT AGUNG TAHUNAN SYARIKAT TAKAFUL MALAYSIA BERHAD yang
KEDUA PULUH EMPAT yang akan diadakan pada hari Khamis, 12 November 2009 jam 9:30 pagi dan pada sebarang penangguhannya.
as my / our proxy to vote for me / us on my / our behalf at the TWENTY FOURTH ANNUAL GENERAL MEETING OF SYARIKAT TAKAFUL MALAYSIA
BERHAD, to be held on Thursday, 12 November 2009 at 9:30 a.m. and at any adjournment thereof.
Sila tandakan “X” di dalam ruang yang disediakan di bawah bagaimana anda ingin mengundi untuk resolusi-resolusi berikut. Sekiranya tiada arahanarahan tertentu, proksi anda akan mengundi atau tidak mengundi sepertimana yang dia anggap patut. Jika anda melantik dua proksi, sila nyatakan bahagian
pegangan untuk diwakilkan kepada setiap proksi.
Please indicate an “X” in the space provided below, how you wish your vote to be cast in respect of the following resolutions. In the absence of specific
directions, your proxy may vote or abstain at his/her discretion. If you appoint two proxies, please specify the proportions of holdings to be represented
by each proxy.
Wakil saya / kami akan mengundi seperti berikut / My / Our proxy is to vote as indicated hereunder:
NO. RESOLUSI / RESOLUTION
MENYOKONG/
FOR 1
Menerima dan menimbang Penyata-Penyata Kewangan yang telah diaudit bagi tahun kewangan
berakhir 30 Jun 2009, beserta laporan Pengarah dan Juruaudit berkaitan dengannya.
To receive and adopt the Audited Financial Statements for the financial year ended 30 June 2009,
together with the reports of the Directors and Auditors thereon.
2
Untuk meluluskan dividen akhir bagi tahun kewangan berakhir 30 Jun 2009.
To approve the final dividend in respect of the financial year ended 30 June 2009.
Melantik semula Pengarah-Pengarah berikut:To re-elect the following Directors:-
3
Y.A.M. Tengku Azman Ibni Almarhum Sultan Abu Bakar
4
Puan Rozaida bt.Omar
5
Untuk meluluskan bayaran yuran Pengarah-Pengarah.
To approve the payment of the Directors’ fees.
6
Untuk meluluskan bayaran yuran Ahli-Ahli Badan Penasihat Syariah.
To approve the payment of the Shariah Advisory Body Members’ fees.
7
Untuk melantik semula Juruaudit dan memberi kuasa kepada Pengarah-Pengarah untuk
menetapkan bayaran Juruaudit.
To re-appoint Auditors and authorise the Directors to fix their remuneration.
8
Cadangan Pembaharuan Mandat Pemegang Saham bagi Urusniaga Berulang Pihak Berkaitan.
Proposed Renewal of Shareholder’ Mandate for Recurrent Related Party Transactions.
MENENTANG/
AGAINST
JUMLAH SAHAM
NO. OF SHARES
Pada / Dated this …… haribulan / day of …. 2009
Tandatangan/ Cop Mohor Pemegang Saham
Signature/ Common Seal of Shareholders
167
Nota-Nota:
(i) Seorang ahli Syarikat yang berhak hadir dan mengundi dalam mesyuarat, berhak melantik seorang atau beberapa orang proksi untuk hadir dan
mengundi bagi pihaknya dan haruslah menyatakan bahagian pegangan sahamnya yang diwakili oleh setiap proksi dan seorang proksi tidak semestinya
ahli Syarikat.
(ii) Suratcara pelantikan proksi mestilah dibuat secara bertulis dan ditandatangani oleh pihak yang melantik atau wakilnya yang diberi kuasa secara
bertulis atau jika pihak yang melantik itu sebuah perbadanan, ianya hendaklah dibuat samada di bawah meteri atau ditandatangani oleh pegawai
atau wakil yang diberi kuasa.
(iii) Semua borang proksi hendaklah dihantar kepada Pejabat Berdaftar Syarikat, di Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No.4 Jalan
Sultan Sulaiman, 50000 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang ditetapkan bagi mengadakan mesyuarat atau
sebarang penangguhannya.
(iv) Kecuali arahan mengundi dinyatakan dalam ruang yang disediakan di atas, seorang proksi boleh mengundi sebagaimana yang ia fikirkan sesuai.
Notes:
(i) A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote instead of him and shall
specify the proportions of his holdings to be represented by each proxy and a proxy need not be a member of the Company.
(ii) The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney duly authorised in writing or if the appointer is
a corporation, either under seal or under the hand of an officer or attorney duly authorised.
(iii) All proxy forms should be deposited at the Registered Office of the Company at Tingkat 26, Blok Annex, Dataran Kewangan Darul Takaful, No. 4,
Jalan Sultan Sulaiman, 50000 Kuala Lumpur not less than forty-eight (48) hours before the time for holding the meeting or any adjournment thereof.
(iv) Unless voting instructions are indicated in the spaces provided above, the proxy may vote as he/she thinks.
Setiausaha Syarikat / The Company Secretary
SYARIKAT TAKAFUL MALAYSIA BERHAD
Tingkat 26, Blok Annex
Dataran Kewangan Darul Takaful
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
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