Professional Documents
Culture Documents
0 INTRODUCTION
3.0
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1
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10.0
11.0
12.0 METHODOLOGY
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27.0
3
i. Earnings Per Share
42.0
Earnings Available for Common Stockholders
Number of Shares of CommonOutstanding
ii. Return on Total Assets
43.0
Earnings Available for Common Stockholders
Total Assets
iii. Return on Equity
44.0
Earnings Available for Common Stockholders
Common Stock Equity
45.0
46.0
47.0
4
Vietnam, China, Hong Kong, Taiwan, Japan, India, Middle East,
Mauritius, and Maldives.
52.0
53.0
54.0
55.0
56.0
57.0
58.0
59.0
60.0
61.0
62.0
63.0
64.0
65.0 Quality and Standards:
66.0 Quality and innovation are one of the Apollos strengths. The
organization constantly strives to determine and provide the
resources needed:-
a) Implement and maintain the quality management system
and continually improve its effectiveness.
b) Produce the products with top quality of raw & packaging
materials
c) Using world class wafer and layer cake manufacturing
machinery from Europe and constantly upgrade
and improve to remain competitively.
d) Enhance customer satisfaction by meeting customer
requirements.
e) Recognize our customers needs by introduce
independence packaging.
f) Ensure the quality assurance procedures, the company had
a credited with HALAL.
67.0 The companys aim is to always fulfil the customer needs and
requirement by using the latest equipment and technology.
68.0
69.0
70.0
71.0
72.0
73.0
74.0
75.0
76.0
5
77.0
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79.0
80.0
81.0
82.0
83.0
84.0
85.0
86.0
87.0
87.1.1 Financial Statement Analysis
90.0 2
88.0 YEARS /
0 91.0 20 92.0 20 93.0 20 94.0 20
89.0 TYPES OF
1 12 13 14 15
RATIO
1
95.0 Liquidity Ratios
97.0 12 98.0 13 99.0 13 100.0 13 101.0 12
96.0 Current
.3 .5 .7 .7 .5
Ratio
1 4 7 0 5
104.0 11 105.0 11 106.0 11 107.0 10
102.0 Quick 103.0 9.
.2 .5 .8 .8
Ratio 98
8 2 0 7
108.0 Activity Ratios
109.0 Invent 110.0 7. 111.0 9. 112.0 8. 113.0 8. 114.0 8.
ory Turnover 21 03 05 33 07
115.0 Averag
116.0 50 117.0 40 118.0 45 119.0 43 120.0 45
e Age of
.6 .4 .3 .8 .2
Inventory
2 2 4 2 3
(days)
121.0 Averag
122.0 49 123.0 52 124.0 60 125.0 57 126.0 61
e Collection
.9 .3 .1 .5 .6
Period
3 3 5 1 8
(days)
127.0 Solvency Ratios
128.0 Debt 129.0 10 130.0 10 131.0 10 132.0 9. 133.0 9.
Ratio (%) .8 .5 .2 7 4
134.0 Debt 135.0 31 136.0 31 137.0 32 138.0 32 139.0 32
to Equity .6 .3 .5 .6 .3
6
Ratio (%)
140.0 Profitability Ratios
141.0 Earnin
142.0 0. 143.0 0. 144.0 0. 145.0 0. 146.0 0.
gs Per Share
22 27 40 42 32
(RM)
147.0 Return 148.0 7. 149.0 9. 150.0 12 151.0 12 152.0 9.
of Asset (%) 6 1 .5 .4 0
153.0 Return
154.0 22 155.0 27 156.0 39 157.0 41 158.0 31
of Equity
.3 .3 .7 .9 .0
(%)
159.0
160.0 Table 1
161.0 In 2011, the current ratio for this firm is 12.31 times and increasing
in 2012 to 13.54 times then keep increasing in 2013 to 13.77 times
then decrease to 13.70 times in 2014 and then decrease again to
12.55 times in 2015. The more liquid in current ratio is in 2013
compared to 2011, 2012, 2014 and 2015.
7
increase again to 45.34 days and then decrease again to 43.82 days
in 2014 and increase to 45.23 days in 2015. A lower average age of
inventory show that the company properly managing their inventory
in 2012.
169.0
8
170.0 In 2011, the company earned return of total assets 7.6%
on each 1 of common stockholders assets investment and in 2012
increase to 9.1% then increasing again to 12.5% in 2013. While in
2014, the company will earned 12.4% and 9.0% decreasing in 2015.
Its show that year 2013 is more effective compared to the other
years.
172.0
173.0
174.0
175.0
176.0
177.0
178.0
179.0
180.0
181.0
182.0
183.0
184.0
185.0
186.0
9
187.0
188.0
10
195.0
196.0
197.0
198.0
199.0
200.0
201.0 YEARS
/ 203.0 204.0 205.0 206.0 207.0
202.0 TYPES 2011 2012 2013 2014 2015
OF RATIO
208.0 Liquidity Ratios
210.0 2. 211.0 2. 212.0 3. 213.0 3. 214.0 3.
209.0 Curren
71 82 09 01 25
t Ratio
75 05 72 11 25
216.0 1. 217.0 1. 218.0 1. 219.0 1. 220.0 2.
215.0 Quick
74 58 56 82 11
Ratio
72 05 90 19 1
221.0 Activity Ratios
222.0 Invent 223.0 1. 224.0 1. 225.0 1. 226.0 2. 227.0 2.
ory Turnover 99 78 97 19 32
228.0 Averag
e Age of 229.0 18 230.0 20 231.0 18 232.0 16 233.0 15
Inventory 3 5 6 7 8
(days)
234.0 Averag
e Collection
235.0 70 236.0 84 237.0 69 238.0 81 239.0 71
Period
(days)
240.0 Solvency Ratios
242.0 20 243.0 18 244.0 16 245.0 18 246.0 18
241.0 Debt
.2 .8 .0 .7 .1
Ratio (%)
8 0 4 8 1
247.0 Debt 248.0 76 249.0 74 250.0 63 251.0 86 252.0 53
to Equity .1 .7 .2 .3 .8
Ratio (%) 9 1 9 1 3
253.0 Profitability Ratios
11
254.0 Earnin 255.0 43 256.0 42 257.0 37 258.0 32 259.0 25
gs Per Share .8 .1 .0 .5 .0
(RM) 3 1 5 8 5
261.0 11 262.0 10 264.0 11
260.0 Return 263.0 9. 265.0 8.
.6 .6 .2
of Asset (%) 35 88
1 4 8
266.0 Return 267.0 14 268.0 13 269.0 11 270.0 13 271.0 10
of Equity .5 .1 .1 .8 .8
(%) 7 1 4 9 4
272.0
273.0 Table 2
274.0 In 2011, the current ratio for this firm is 2.7175 times
and increasing in 2012 to 2.8205 times then keep increasing in 2013
to 3.0972 times but its decrease in 2014 to 3.0111 times and back
increasing to 3.2525 in 2015. It means the company had shown the
best performance within these 3 years as its current ratio is
increasing even its decreasing in the next year but it increase again
in 2015 and become more liquid from 2.7175 times the firm had in
its current asset even though the company only had achieve about
3.2525 times in 2015. So the year of 2015, the current ratio is more
liquid compared to another years
275.0
276.0 This firm get 1.7472 times of acid-test ratio in 2011 and
decreasing in 2012 and 2013 to 1.5805 times and1.5690 times but
increasing for the next two years to 1.8219 times and 2.111 times. It
means, in 2011, the company has RM1.75 of current assets without
inventories for every RM1 of currents liabilities. In 2012, each RM1
of current liabilities are supported by RM1.58 of current assets
without inventories. While in 2013, every RM1 of current liabilities
are supported by RM1.57 of current assets without inventories. In
2014 and 2015, every RM1 of current liabilities are supported by
RM1.82 and RM2.11. It shows that the quick ratio in 2013, 2014 and
12
2015 are really satisfied because the current assets without
inventories of the company can support the current liabilities.
13
RM1 common stockholders have invested in ASIA FILE, the company
owes about RM0.76 to creditors in 2011. But in 2012 and 2013, it
decreased to RM0.74 and RM0.63 and increase in 2014 to RM0.86
but it fall again to RM0.54 in 2015. A high debt-to-equity ratio
indicated that the company may not be able to generate enough
cash to satisfy its debt obligations. So, 2015 is better than the other
years because it recorded the lowest value.
282.0 In year 2011,2012,2013,2014, and 2015 ASIA FILE will
distributed RM43.83, RM42.11, RM37.05, RM32.58 and RM26.50 to
each of the shareholder as the earning per share. This figure
represents the dollar amount earned on behalf of each outstanding
share of common stock. Earnings per share is closely watched by
the investing public and is considered an important indicator of
corporate success.
283.0 Return on total assets are to measure the overall
effectiveness of management in generating profits with its available
assets. The higher the firms return on total assets, the better. For
the five years, ASIA FILE earned RM0.1161, RM0.1064, RM0.0935,
RM0.1128 and RM0.0888 respectively on each $1 of common
stockholders assets investment. Its show that year 2014 is more
effective compared to the other years.
284.0 In 2013, ASIA FILEs percentage of return on equity in
2011,2012,2013, 2014 and 2015 are 146%, 131%, 111%,139%
and108% respectively. The company will earned RM1.46 on each $1
of common stockholders investment in 2011, RM1.31 on each RM1
in 2012, RM1.11 on each RM1 in 2013, RM1.39 on each RM1 in
2014. While in 2015, the company earned rm1.08 of return on
equity. Its show that ASIA FILE earned more income in year 2011
compared to other years.
285.0
286.0
287.0
288.0
289.0
290.0
291.0
292.0
14
293.0
294.0
295.0
296.0
297.0
298.0
299.0
300.0
300.1 AJINOMOTO (MALAYSIA) BERHAD
300.1.1 Background Company
15
Aw Kian Wee (Independent Non-Executive Director), Dato
Setia Ramli Bin Mahmud (Independent Non-Executive
Director), Kamarudin Bin Rasid (Executive Director), Azharudin
Bin Ab Ghani (Executive Director), Motohiro Komase
(Executive Director) and Dr. Masata Mitsuiki (Executive
Director).
305.0
306.0
307.0
308.0
309.0 YEARS
/ 311.0 312.0 313.0 314.0 315.0
310.0 TYPES 2011 2012 2013 2014 2015
OF RATIO
316.0 Liquidity Ratios
317.0 Curren 318.0 4. 319.0 5. 320.0 4. 321.0 5. 322.0 5.
t Ratio 08 68 75 71 40
323.0 Quick 324.0 3. 325.0 4. 326.0 2. 327.0 3. 328.0 2.
Ratio 89 03 97 51 52
329.0 Activity Ratios
330.0 Invent 331.0 2. 332.0 3. 333.0 2. 334.0 3. 335.0 2.
ory Turnover 99 19 82 31 85
336.0 Averag
337.0 12 338.0 11 339.0 12 340.0 11 341.0 12
e Age of
2. 4. 9. 0. 8.
Inventory
1 4 4 3 1
(days)
342.0 Averag
e Collection 343.0 37 344.0 38 345.0 43 346.0 39 347.0 41
Period .4 .9 .2 .3 .7
(days)
348.0 Solvency Ratios
349.0 Debt 350.0 18 351.0 14 352.0 17 353.0 14 354.0 16
16
Ratio (%) .5 .1 .0 .9 .0
355.0 Debt
356.0 22 357.0 16 358.0 20 359.0 17 360.0 19
to Equity
.7 .4 .5 .5 .1
Ratio (%)
361.0 Profitability Ratios
362.0 Earnin 363.0 0. 364.0 0. 365.0 0. 366.0 0. 367.0 0.
gs Per Share 40 42 31 46 48
(cent) 9 1 91 12 9
368.0 Return 369.0 9. 370.0 9. 371.0 6. 372.0 9. 373.0 8.
of Asset (%) 58 35 59 10 93
374.0 Return 375.0 11 376.0 10 378.0 10 379.0 10
377.0 7.
of Equity .7 .8 .7 .
94
(%) 5 8 0 64
380.0 Table 3
17
variety of dimensions. For inventory turnover, comparison between
2.99 on year 2011, 3.19 on year 2012, 2.82 on year 2013, 3.31 on
year 2014 and 2.85 on year 2015 shows that how many days, on
average, before inventory is turned into account receivable through
sales. In year 2014, the inventory turnover was faster than year
2011, 2012, 2013 and 2015. It is shows how effectively the firm
managing inventory and also to gain an indication of the liquidity of
inventory. Same goes to the age of inventory ratio. Average age of
inventory is the shortest with 110.3 days in 2014 but higher in year
2013 with 129.4 days. It shows that longer day of inventory the firm
has on hand on year 2013 and unused inventory stored is the lowest
in year 2014. More less the days is better because the turnover of
inventory is faster. Average collection period is useful in evaluating
credit and collection policies and ability of the firm of collecting the
receivables in the specific time. Here in the year 2013 the turnover
in days was almost 44, but the collecting decrease in the year 2014
to 39 days and turn increase in the year of 2015 with the collection
period of approximately almost 42 days is well within the 60 days
allowed in the credit terms. The best average collection period is
2011. It means the firm collects its account receivables faster. It
shows an effective managed credit department. If the credit term of
the company is reducing every year it is a good credit management.
18
flow is sufficient to meet its short-term and long-term liabilities. The
lower company solvency ratio, the greater the probability that it will
default on its debt obligations. Based on debt to equity, in year 2011
the company has higher ratio 22.7% its indicate that more creditor
financing is used than investor financing. It is also considered more
risky to creditors and investors than with a lower ratio. In year 2012
the ratio is lowest 16.4%, it is usually implies a more financially
stable business in this year. The ratios get higher on year 2013
means that the higher this ratio, the greater the firms use of
financial leverage. However, a low debt to equity ratio is often
viewed as an indication that a company is not taking sufficient
advantage of financial leverage to increase profits, whereas a high
debt to equity is often viewed as an indication that a company may
not be able to generate enough cash to satisfy its debt obligations.
19
This increase in Return on Equity is a good thing for stockholders
and indicates that Ajinomoto is using the equity by stockholders
during the specific year effectively and using it to generate more
equity for the owners.
385.0
386.0
387.0
388.0
389.0
390.0
391.0
392.0
20
to help Malaysians move forward in life with trusted dairy
nutrition.
398.0
399.0
400.0
401.0
402.0 YEARS
/ 404.0 405.0 406.0 407.0 408.0
403.0 TYPES 2011 2012 2013 2014 2015
OF RATIO
409.0 Liquidity Ratios
410.0 Curren 411.0 2. 412.0 1. 413.0 1. 414.0 1. 415.0 1.
t Ratio 40 91 52 44 27
416.0 Quick 417.0 1. 418.0 1. 419.0 1. 420.0 0. 421.0 0.
Ratio 71 37 01 93 87
21
422.0 Activity Ratios
423.0 Invent 424.0 5. 425.0 6. 426.0 5. 427.0 7. 428.0 5.
ory Turnover 42 17 38 26 86
429.0 Averag
430.0 16 432.0 13 433.0 13 434.0 20
e Age of 431.0 6.
.5 .1 .6 .1
Inventory 69
3 8 3 0
(days)
435.0 Averag
436.0 67 437.0 59 438.0 67 439.0 50 440.0 62
e Collection
.3 .1 .8 .2 .2
Period
4 6 4 8 9
(days)
441.0 Solvency Ratios
442.0 Debt
443.0 35 444.0 44 445.0 55 446.0 55 447.0 62
Ratio (%)
448.0 Debt
449.0 21 450.0 26 451.0 35 452.0 29 453.0 39
to Equity
8 0 7 4 9
Ratio (%)
454.0 Profitability Ratios
455.0 Earnin
456.0 1. 457.0 1. 458.0 2. 459.0 1. 460.0 2.
gs Per Share
69 93 16 72 20
(RM)
461.0 Return
462.0 27 463.0 32 464.0 33 465.0 32 466.0 34
of Asset (%)
467.0 Return
468.0 16 469.0 19 470.0 21 471.0 17 472.0 22
of Equity
9 3 6 2 0
(%)
473.0 Table 4
22
475.0 In 2011, DUTCH LADY MILK INDUSTRIES has 1.71
times of acid-test ratio and decreasing in 2012, 2013, 2014 and
2015 to 1.37, 1.01, 0.93 and 0.87 respectively. It means, in 2011,
the company has RM1.57 of current assets without inventories for
every RM1 of currents liabilities. In 2012, each RM1 of current
liabilities are supported by RM1.37 of current assets without
inventories and each RM1 of current liabilities in 2013 are supported
by RM1.01 of current assets without inventories. While in 2014 and
2015, every RM1 of current liabilities is supported by RM0.93 and
RM0.87 of current assets without inventories. It shows that the quick
ratio in 2011 is more liquid compared to 2012, 2013, 2014 and
2015.
23
the days on the table, the company takes about 16 days to turn the
companys account receivable into cash in 2011, 6 days in 2012, 13
days in both 2013 and 2014 and 20 days in 2015.
482.0 The ROA of the firm for year 2011 is RM0.27 and
increase to RM0.32 in 2012. While 2013, 2014 and 2015 are
RM0.33, RM0.32 and RM0.34 respectively. It means, for every RM1
of an asset, this company will earn RM0.27 in 2011. Then it
increased to RM0.32 and RM0.33 in 2012 and 2013 respectively. But
in 2014 it decreased to RM0.32 and increase in 2015 to RM0.34. So
24
2015 is the highest value of ROA and very effective on generated
profit compared with 2011, 2012, 2013 and 2014.
484.0
485.0
486.0
487.0
488.0
489.0
490.0
491.0
25
493.0
14
12
10
8 APOLLO
ASIA FILE
6 AJINOMOTO
DUTCHLADY
4
0
Current ratio Quick ratio
495.0 For quick ratio, company Apollo Food Holdings Bhd. also
more liquid without inventories in year 2015 compared to another
company.
496.0
497.0
498.0
499.0
500.0
501.0
502.0
503.0
504.0
26
504.1 ACTIVITY RATIOS
505.0
5 APOLLO
ASIA FILE
4 AJINOMOTO
DUTCHLADY
3
0
Inventory turnover
27
507.0
180
160
140
120
100 APOLLO
ASIA FILE
80 AJINOMOTO
DUTCHLADY
60
40
20
0
Average age of inventory Average collection period
510.0
28
511.0
512.0
513.0
514.0
515.0
516.0
517.0
518.0
519.0
450.00%
400.00%
350.00%
300.00%
250.00% APOLLO
ASIA FILE
200.00% AJINOMOTO
DUTCHLADY
150.00%
100.00%
50.00%
0.00%
Debt ratio debt to equity ratio
29
520.0 As we can see, the chart above show the differences on
solvency ratios between 4 companies which is Apollo Food Holdings
Berhad, Asia File Corporation Bhd., Ajinomoto (Malaysia) Berhad and
Dutch Lady Milk Industries in the same industry. From this chart, it
showed that the debt ratio for Dutch Lady Milk Industries become
the highest (62%), if compare with the lowest company which is
Apollo Food Holdings Berhad (9.4%) for debt ratio measure the
proportion of the total assets financed by the firms creditors. The
higher this ratio, the greater the amount of other peoples money
being used to generate profits.
522.0
523.0
524.0
525.0
526.0
30
527.0
RM30.00
RM25.00
RM20.00
APOLLO
RM15.00 ASIA FILE
AJINOMOTO
DUTCHLADY
RM10.00
RM5.00
RM0.00
Earning per share
528.0 For Earnings Per Share, Asia File shows the best
performance compared to the other companies which is RM25.05
will be distributed to to each of the common stock. While Apollo
shows the lowest performance, RM0.32 of Earning Per Share.
Earning per share of Ajinomoto and Dutch Lady are RM0.49 and
RM2.20 respectively. This figure represents the dollar amount
earned on behalf of each outstanding share of common stock.
Earnings per share is closely watched by the investing public and is
considered an important indicator of corporate success.
31
529.0
250%
200%
150% APOLLO
ASIA FILE
AJINOMOTO
100%
DUTCHLADY
50%
0%
Return on total asset Return on total equity
531.0 For Return on Equity, also Dutch Lady shows the highest
performance which is 220% followed by Apollo (31%), Asia File
(10.84%) and Ajinomoto (10.64%).Return on equity used to measure
net return per RM1 invested in the firm by the owners, the common
shareholders. For every percent earned means, the firm is
generating a cent return per RM1 of net worth.
32
532.0
533.0
534.0
535.0
536.0
537.0
538.0
33
546.0 The reported information will be based on the
information that management uses to run the business and
segment information disclosed will be based on management
information reported to the chief operating decision maker
(CODM). The implication is that the way in which management
assesses the performance of the business should become
more transparent and segment information will be subject to
greater scrutiny from users of financial statements.
551.0
34
552.0
554.0
555.0
556.0
557.0
558.0
559.0
35
561.0 When the presentation currency is different from
the functional currency, that fact shall be stated, together with
disclosure of the functional currency and the reason for using
a different presentation currency.
562.0 When there is a change in the functional currency
of either the reporting entity or a significant foreign operation,
that fact and the reason for the change in functional currency
shall be disclosed.
563.0 When an entity presents its financial statements in
a currency that is different from its functional currency, it shall
describe the financial statements as complying with MFRSs
only if they comply with all the requirements of MFRSs
including the translation method set out in paragraphs 39 and
42.
564.0 An entity sometimes presents its financial
statements or other financial information in a currency that is
not its functional currency without meeting the requirements
of paragraph 55. For example, an entity may convert into
another currency only selected items from its financial
statements. Or, an entity whose functional currency is not the
currency of a hyperinflationary economy may convert the
financial statements into another currency by translating all
items at the most recent closing rate. Such conversions are
not in accordance with MFRSs and the disclosures set out in
paragraph 57 are required.
565.0
566.0
567.0
568.0 When an entity displays its financial statements or
other financial information in a currency that is different from
either its functional currency or its presentation currency and
the requirements of paragraph 55 are not met, it shall:-
i. Clearly identify the information as supplementary
information to distinguish it from the information that
complies with MFRSs;
36
ii. Disclose the currency in which the supplementary
information is displayed; and
iii. Disclose the entitys functional currency and the method of
translation used to determine the supplementary
information.
569.0
570.0
571.0
572.0 COMMENT ON COMPANYS COMPLIANCE TO THE MFRS
(YEAR 2015)
572.1 INCOME TAX
572.1.1 APOLLO FOOD HOLDINGS BHD.
37
591.0
2015
592.0
RM
593.0 Current Tax Expense
594.0 Malaysian - Current
12,260,000
595.0 - Prior Year 67,230
596.0 Overseas - Current
2,166,983
597.0 - Prior Year ___
_9,380_
598.0 Total Current Tax
14,503,543
605.0
606.0
607.0
608.0
609.0
610.0
611.0
38
612.0
613.0
614.0
615.0
39
641.0
642.0
643.0
644.0
644.1.1 DUTCH LADY MILK INDUSTRIES
646.0 2015
647.0 RM 000
648.0 Current Tax Expense
40
660.0 Others company did not disclosure any item that related
to the MFRS 112 in their financial statements and notes.
661.0
662.0
663.0
664.0
665.0
666.0
666.1 OPERATING SEGMENTS
666.1.1 APOLLO FOOD HOLDINGS BHD.
41
671.0 Inter-segment revenue is priced along the
same lines as sales to external customers and is
eliminated in the consolidated financial statements.
These policies have been applied constantly throughout
the current and previous financial years.
672.0 Segment assets exclude tax assets.
Segment liabilities exclude tax liabilities. Details are
provided in the reconciliations from segment assets and
liabilities to the position of the group.
673.0
674.0
675.0
680.0 M
arketin
677.0
679.0 M g
Investme 683.0
anufa 681.0 a
676.0 nt Total
cturin nd
678.0 684.0
g 682.0 di
Holding
stribut
ion
686.0 687.0 R 688.0 R 689.0
685.0 2015
RM M M RM
690.0 Reve
691.0 692.0 693.0 694.0
nue
697.0 2 699.0 311,
695.0 Total 696.0 698.0 109,44
02,394 914,
revenue 70,350 9,449
,258 057
704.0 (99,
700.0 Inter- 702.0 (
701.0 287,
segment 99,287 703.0 -
- 284)
revenue ,284)
705.0
706.0 Reve 710.0 212,
708.0 1 709.0 1
nue from 707.0 626,
03,106 09,449,
external 70,350 773
,974 449
customers 711.0
712.0 Inter 713.0 714.0 9 715.0 9 716.0 2,09
42
2,46
est income 1,066,516 26,579 9,369 4
717.0
718.0 Rent 719.0 720.0 1 721.0 3 722.0
al income - 8,000 53,000 371,000
723.0 Depreciatio 727.0 (10,
n and 725.0 (10,49 726.0 (238,17 730,
724.0 -
amortisatio 1,902) 8) 080)
n 728.0
729.0 Segment
733.0 34,0
profit
730.0 650, 731.0 27,326 732.0 6,079,2 56,0
before
513 ,278 80 71
income
734.0
tax
739.0 (8,7
735.0 Tax 736.0 (241, 737.0 (7,033, 738.0 (1,486,
62,1
expense 433) 782) 920)
35)
740.0 Other material non-cash items:
745.0 (117
741.0 -
743.0 (117,3 ,379
inventories 742.0 - 744.0 -
79) )
written-off
746.0
747.0 Additions
to non-
current
assets 755.0 6,75
751.0 6,758,
748.0 other than 749.0 - 753.0 - 8,66
667
financial 750.0 754.0 7
752.0
instrument 756.0
s and
deferred
tax assets
758.0 27,3 761.0 274,
757.0 Segment 759.0 229,34 760.0 17,399,
58,0 106,
assets 8,708 738
35 481
762.0 Seg 763.0 457, 764.0 11,230 765.0 235,75 766.0 11,9
43
ment 23,6
658 ,205 4
liabilities 17
767.0
768.0
769.0
44
tax
823.0 Tax 824.0 (406, 825.0 (8,103, 826.0 (1,624,5 827.0 (10,1
expense 699) 492) 00) 34,6
91)
828.0 Other 829.0 830.0 831.0 832.0
material
non-cash
items:
833.0 - bad 834.0 - 835.0 (1,544) 836.0 - 837.0 (1,54
debts 4)
written
off
838.0 - 839.0 - 840.0 (151,95 841.0 - 842.0 (151,
inventori 3) 953)
es
written
off
843.0 - 845.0 847.0 849.0 851.0
impairm 846.0 (657, 848.0 - 850.0 - 852.0 (657,
ent loss 464) 464)
on other
844.0 Investme
nts
853.0 Additions 856.0 859.0 862.0 865.0
to non- 857.0 860.0 863.0 866.0
current 858.0 - 861.0 9,844,9 864.0 122,808 867.0 9,96
assets 53 7,76
854.0 other 1
than
financial
instrume
nts
855.0 and
deferred
tax
assets
868.0 Segmen 869.0 46,8 870.0 193,70 871.0 29,172,7 872.0 269,
t assets 40,0 6,545 35 719,
45
31 311
873.0 Segmen 874.0 449, 875.0 9,744,4 876.0 453,002 877.0 10,6
t 049 40 46,4
liabilitie 91
s
46
position
920.0 Total liabilities for 921.0 11,923,617 922.0 10,646,491
reportable segments
923.0 Tax liabilities 924.0 13,936,422 925.0 15,463,647
926.0 Liabilities of the Group 927.0 25,860,039 929.0 26,110,138
per consolidated 928.0
statement of financial
position
930.0
931.0
932.0
933.0
934.0
935.0
936.0 Geographical Segments
937.0 The manufacturing facilities and sales offices of the
group are mainly based in Malaysia, Indonesia, Singapore, China
and others.
938.0 In presenting information on the basis of geographical
areas, segment revenue is based on the geographical location from
which the sale transactions originated.
939.0
940.0 941.0 2015 942.0 2014
943.0 Revenue from 944.0 RM 945.0 RM
external customers
946.0 Malaysia 947.0 122,487,836 948.0 122,802,239
949.0 Asean (excluding 950.0 82,268,621 951.0 85,621,627
Malaysia)
952.0 Others 953.0 7,870,316 954.0 12,289,467
955.0 956.0 212,626,773 957.0 220,713,333
958.0
959.0 Major Customers
960.0 Revenue from a customer in distributing imported
products represent approximately RM35, 271,353 (2014: RM43,
203,854) of the group revenue.
961.0
962.0
963.0
964.0
965.0
966.0
967.0
47
968.0
969.0
970.0
971.0
972.0
973.0
974.0
975.0
976.0
976.1.1 ASIA FILE CORPORATION BERHAD
48
983.0
984.0
985.0
986.0
987.0
988.0
989.0
990.0
991.0
992.0
993.0
994.0 Geographical information
995.0 In presenting information on the basis of geographical
segments, segment revenue is based on geographical location of
customers. Segment assets are based on the geographical location
of the assets. The amounts of non-current assets do not include
financial instruments (including investment in an associate) and
deferred tax assets.
996.0
997.0 Assets 998.0 Revenues 999.0 Non-
Current
1001.0 1002.0 1003.0 1004.0
2014 2015 2014 2015
1006.0 1007.0 1008.0 1009.0
RM RM RM RM
1010.0 Malaysia 1011.0 1012.0 1013.0 1014.0
33,819,55 38,505,80 53,839,58 55,509,93
3 6 4 4
1015.0 Asia 1016.0 1017.0 1018.0 1019.0
(excluding 12,465,90 9,972,976 1,617 2,867
Malaysia) 8
1020.0 Europe 1021.0 1022.0 1023.0 1024.0
302,793,0 277,820,6 85,734,89 91,755,58
85 95 7 0
1025.0 America 1026.0 1027.0 1028.0 1029.0
23,551,96 24,757,12 - -
3 2
1030.0 Others 1031.0 1032.0 1033.0 1034.0
14,785,63 14,822,64 - -
4 0
49
1035.0 Consolid 1036.0 1037.0 1038.0 1039.0
ated 387,416,1 365,879,2 139,576,0 147,268,3
43 39 98 81
1040.0
1041.0 Major customer
1042.0 A major customer of the Group, with revenue
equal or more than 10% of the Groups total revenue, contributes
approximately RM47,835,580 (2014 : RM36,431,125) of the Groups
total revenue.
1043.0
1044.0
1045.0
1046.0
1047.0
1048.0
1049.0
1050.0
1051.0
1052.0
50
sweetener, frozen food and provision of services in
relation to food industry.
1054.0
1055.0 1056.0 1058.0 1061.0 1063.0
Umami Food and Others Total
seas 1059.0 1062.0 1064.0
onin segment RM RM
g 1060.0 1065.0
1057.0 RM
RM
1066.0 At 31 March 2015
1067.0 Revenue 1068.0 1069.0 1070.0 1071.0
233,772,4 104,347,4 2,256,037 340,375,9
67 32 36
1072.0 Results 1074.0 1076.0 1078.0
1080.0
1073.0 Segment 1075.0 1077.0 1079.0 1081.0
profit 30,621,95 5,820,146 720,798 37,162,89
3 7
1082.0 Interest 1083.0 1084.0 1085.0
1086.0
income 3,433,560
1087.0 Profit 1088.0 1089.0 1090.0
1091.0
before tax 40,596,45
7
1092.0 Income 1093.0 1094.0 1095.0
1096.0
tax expense (10,863,07
8)
1097.0 Profit net 1098.0 1099.0 1100.0
1101.0
of tax 29,733,37
9
1102.0 At 31 1103.0 1104.0 1105.0
1106.0
March 2014
1107.0 Revenu 1108.0 1109.0 1110.0 1111.0
e 241,118,3 103,670,2 562,318 345,350,9
13 86 17
1112.0 Results 1114.0 1116.0 1118.0 1120.0
1113.0 Segment 1115.0 1117.0 1119.0 1121.0
51
profit 22,948,14 12,073,99 10,354 35,032,49
9 0 3
1122.0 Interest 1123.0 1124.0 1125.0 1126.0
income 2,563,660
1127.0 Profit 1128.0 1129.0 1130.0 1131.0
before tax 37,596,15
3
1132.0 Income 1133.0 1134.0 1135.0 1136.0
tax expense (9,554,980
)
1137.0 Profit net 1138.0 1139.0 1140.0 1141.0
of tax 28,041,17
3
1142.0
1143.0
1144.0 1145.0 1147.0 F 1150.0 1152.0
Umami ood Others Total
se and 1151.0 1153.0
gm 1148.0 s RM RM
ent easo
1146.0 ning
RM segm
ent
1149.0 R
M
1154.0 At 31 1155.0 1156.0 1157.0 1158.0
March 2015
1159.0 Assets 1161.0 1163.0 1165.0 1167.0
1160.0 Segment 1162.0 1164.0 8 1166.0 1168.0
assets 245,639, 3,745 3,561,104 332,945,5
275 ,165 44
1169.0 Total 1170.0 1171.0 1172.0 1173.0
assets 332,945,5
44
1174.0 Liabiliti 1176.0 1178.0 1180.0 1182.0
es 1177.0 1179.0 1 1181.0 1183.0
52
1175.0 Segment 36,854,9 2,499 274,642 49,629,32
liabilities 89 ,693 4
1184.0 Provision 1185.0 1186.0 1187.0 1188.0
for taxation 292,023
1189.0 Deferred 1190.0 1191.0 1192.0 1193.0
tax liabilities 3,501,702
1194.0 Total 1195.0 1196.0 1197.0 1198.0
liabilities 53,423,04
9
1199.0 Other segment information
1200.0 Capital 1201.0 1202.0 4 1203.0 1204.0
expenditure 8,822,73 ,208, - 13,031,23
7 497 4
1205.0 Depreciat 1206.0 1207.0 3 1208.0 1209.0
ion 7,194,67 ,431, - 10,626,57
2 900 2
1210.0 At 31 1211.0 1212.0 1213.0 1214.0
March 2014
1215.0 Assets 1217.0 1219.0 1221.0 1223.0
1216.0 Segment 1218.0 1220.0 5 1222.0 1224.0
assets 242,078, 9,242 6,698,232 308,019,1
666 ,213 11
1225.0 Total 1226.0 1227.0 1228.0 1229.0
assets 308,019,1
11
1230.0 Liabiliti 1232.0 1234.0 1236.0 1238.0
es 1233.0 1235.0 1 1237.0 1239.0
1231.0 Segment 28,112,4 2,623 20,328 40,755,77
liabilities 25 ,026 9
1240.0 Provision 1241.0 1242.0 1243.0 1244.0
for taxation 1,733,071
1245.0 Deferred 1246.0 1247.0 1248.0 1249.0
tax liabilities 3,454,306
1250.0 Total 1251.0 1252.0 1253.0 1254.0
liabilities 45,943,15
6
1255.0 Other 1257.0 1260.0 1263.0 1266.0
53
segment 1258.0 1261.0 1264.0 1267.0
information 1259.0 1262.0 5 1265.0 1268.0
1256.0 Capital 6,219,29 ,440, - 11,660,27
expenditure 8 972 0
1269.0 Depreciat 1270.0 1271.0 3 1272.0 1273.0
ion 6,230,83 ,967, - 10,198,59
1 762 3
1274.0
1275.0
1276.0
1277.0
1278.0 Geographical Segment
1279.0 Segmental reporting by geographical regions has
only been prepared for revenue as the companys assets are located
in Malaysia. Sales to external customers disclosed in geographical
segments are based on the geographical location of its customers.
1280.0
1281.0 1282.0 1284.0 1286.0 1289.0 1291.0
Malaysia Middle Other Others Total
1283.0 Asia 1287.0 1290.0 1292.0
RM n East RM RM
1285.0 Cou 1293.0
RM ntri
es
1288.0
RM
1294.0 Revenue
1295.0 1296.0 1297.0 1298.0 1299.0 1300.0
2015 220,576,2 41,514,35 74,301,22 3,984,148 340,375,9
14 1 3 36
1301.0 1302.0 1303.0 1304.0 1305.0 1306.0
2014 232,619,9 37,382,65 69,579,49 5,768,853 345,350,9
14 3 7 17
1307.0
1308.0
1309.0
54
1310.0
1311.0
1312.0
1313.0
1314.0
1315.0
1316.0
1317.0
1318.0
1319.0
1320.0
1321.0
1322.0
55
1325.0 All of the companies have comply with
the standard.
1326.0
1327.0
1328.0
1329.0
1330.0
1331.0
1332.0
1333.0
1334.0
1335.0
1336.0
1337.0
1338.0
1339.0
1340.0
56
company has controlling related party relationship with its
subsidiaries and its ultimate holding company.
1342.0 Company
1343.0
2015 2014
RM RM
Subsidiaries:
1347.0
1348.0
57
1349.0 Group
Company
2015 2014
2015 2014
RM RM
RM RM
Short term employee benefits 6,726,782 6,589,435
51,750 54,250
Contribution to defined
contribution plan 792,797 750,263
- -Defined benefit plan 52,781
12,736 - -
1350.0 7,572,360
7,352,434 51,750 54,250
Fees 216,000 216,000
190,000 190,000
7,788,360 7,568,434
241,750 244,250
1351.0
1354.0 The Group has related party relationships with the following :
58
1355.0 i) Subsidiaries and associates of the Company as disclosed in
the financial statements.
1356.0 ii) Companies in which a Director, Dato Lim Soon Huat and
his close family members collectively have controlling interests -
Asia Educational Supplies Sdn. Bhd. (AESSB) and Khyam Seng
Printing Sdn. Bhd. (KSPSB).
1357.0 iii) Company in which a Director, Dato Lim Soon Huat has
substantial financial interests - Dynamic Office Sdn. Bhd. (DOSB).
1362.0 The significant related party transactions of the Group and the
Company, other than key management personnel compensations,
are as follows:
1363.0
59
1366.0 Management fee receivable 2,737,920
2,565,120
b) Transactions entered into by the subsidiaries in the ordinary course
of business with a direct associate
1367.0 Transactions amount for
the year ended 31 March
1368.0 2015
2014
1369.0 RM
RM
1370.0 Purchases 2,784,503
3,750,889
c) Transactions entered into by the Group in the ordinary course of
business with companies in which a Director and his close family
members collectively have controlling interests are as follows :
1371.0 Transactions amount for
the year ended 31 March
1372.0 2015
2014
1373.0 RM
RM
1374.0 Sales - AESSB 131,000
281,000
1375.0 - KSPSB -
7,000
1376.0 - DOSB 4,000
1,000
1377.0 Purchases - AESSB 30,000
25,000
1378.0 - DOSB 81,000
64,000
60
1381.0
1382.0
1383.0
1384.0
1386.0
2015 2014
RM
RM
Group
Consultancy fee paid to a company in which a Director 317,979
359,729
of a subsidiary has substantial financial interest
Rental paid to - a Director of a subsidiary 9,600
9,600
1387.0 The above transactions have been entered into in the normal
course of business and have been established under negotiated
terms.
1388.0
1389.0
1390.0
1391.0
1392.0
1393.0
1394.0
1395.0
61
1396.0
1397.0
1398.0
1400.0
2015 2014
RM RM
Transactions with related companies
1402.0 The directors are of the opinion that all the transactions above
have been entered into in the normal course of business and have
62
been established on negotiated terms and conditions that are not
materially different from those obtainable in transactions with
unrelated parties.
1405.0
1406.0
1407.0
1408.0
1409.0
1410.0
1411.0
1412.0
63
the Directors of the Company, and certain members of senior
management of the Company.
1416.0 The Company has related party relationship with its holding
companies, related companies and key management personnel.
1418.0
1419.0
2015 2014
RM000 RM000
1422.0
64
investee. Furthermore, they also include information about
compensation of key management personnel that complied with
standard. But, only Asia File Corporation Bhd fully followed the
standard. The company disclose information about related parties.
While Ajinomoto (Malaysia) Berhad, Apollo Food Holdings Berhad
and Dutch Lady Milk Industries do not disclose the information about
their related parties.
1424.0
1425.0
65
monetary. Items, which are carried at fair value are translated
using the exchange rate that existed when the values were
determined for presentation currency purposes.
1428.0
1429.0
1429.1.1 ASIA FILE CORPORATION BERHAD
66
denominated in functional currencies other than RM,
including goodwill and fair value adjustments arising on
acquisition, are translated to RM at exchange rates at
the end of the reporting period, except for goodwill and
fair value adjustments arising from business
combinations before 1 April 2012 (the date when the
Group first adopted MFRS) which are treated as assets
and liabilities of the Company. The income and expenses
of foreign operations are translated to RM at exchange
rates at the dates of the transactions. Foreign currency
differences are recognised in other comprehensive
income and accumulated in the foreign currency
translation reserve (FCTR) in equity. However, if the
operation is a non-wholly-owned subsidiary, then the
relevant proportionate share of the translation
difference is allocated to the non-controlling interests.
When a foreign operation is disposed of such that
control, significant influence or joint control is lost, the
cumulative amount in the FCTR related to that foreign
operation is reclassified to profit or loss as part of the
gain or loss on disposal. When the Group disposes of
only part of its interest in a subsidiary that includes a
foreign operation, the relevant proportion of the
cumulative amount is reattributed to non-controlling
interests. When the Group disposes of only part of its
investment in an associate that includes a foreign
operation while retaining significant influence or joint
control, the relevant proportion of the cumulative
amount is reclassified to profit or loss.
1432.0
1433.0
1434.0
1435.0
1436.0
1437.0
67
1438.0
1439.0
1440.0
1441.0
1442.0
1443.0
1444.0
1445.0
1446.0
1447.0
1448.0
1449.0
1450.0
1451.0
1452.0
1453.0
1453.1.1 AJINOMOTO (MALAYSIA) BERHAD
i. Foreign Currency Translations and Balances
1454.0 The financial statements of the Company
are measured using the currency of the primary
economic environment in which the entity operates (the
functional currency). The financial statements are
presented in Ringgit Malaysia (RM), which is also the
companys functional currency.
ii. Foreign Currency Transactions
1455.0 Transactions in foreign currencies are
measured in the functional currency of the company and
are recorded on initial recognition in the functional
currency at exchange rates approximating those ruling
at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at the
rate of exchange ruling at the reporting date. Non-
monetary items denominated in foreign currencies that
are measured at historical cost are translated using the
exchange rates as at the dates of the initial
transactions. Non-monetary items denominated in
foreign currencies measured at fair value are translated
using the exchange rates at the date when the fair value
68
was determined. Exchange differences arising on the
settlement of monetary items or on translating
monetary items at the reporting date are recognised in
profit or loss. Exchange differences arising on the
translation of non-monetary items carried at fair value
are included in profit or loss for the period except for the
differences arising on the translation of non-monetary
items in respect of which gains and losses are
recognised directly in equity. Exchange differences
arising from such non-monetary items are also
recognised directly in equity.
1456.0
1457.0
1458.0
1459.0
1460.0
1461.0
69
rate at that date. Non-monetary assets and liabilities
denominated in foreign currencies are not retranslated
at the end of the reporting period except for those that
are measured at fair value 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
profit or loss.
1464.0 All company complied with MFRS 121 where they
disclosed the exchange difference in their financial statements and
items included in the Financial Statements of each of the Groups
entities are measured using the currency of the primary economic
environment in which the entity operates.
1465.0
1466.0
1467.0
1468.0
1469.0
1470.0
1471.0
1472.0
1473.0
1474.0
1475.0
1476.0
1477.0 CONCLUSION
70
where the company stands at that particular point. Useful
benchmarks are industry comparisons and company trends.
1481.0
1482.0
1483.0
1484.0
1485.0
1486.0
1487.0
1488.0
1489.0
71
1490.0 REFERENCES
1) Annual report year 2011, 2012, 2013, 2014, 2015 AJINOMOTO
(MALAYSIA) BERHAD.
2) Annual report year 2011, 2012, 2013, 2014, 2015 DUTCH LADY MILK
INDUSTRIES
3) Annual report year 2011, 2012, 2013, 2014, 2015 ASIA FILE
CORPORATION BERHAD.
4) Annual report year 2011, 2012, 2013, 2014, 2015 APOLLO FOOD
HOLDINGS BHD.
5) Jane Lazar & Tan Ley Leng (2013), Financial reporting Standard for
Malaysia, Revised 7th Edition, Kuala Lumpur, Pearson.
6) IFRS Foundation (2011). Malaysian Financial Reporting Standard 112:
Income Taxes. Retrieved from: www.masb.org.my/pdf/MFRS
%20112%20042015.pdf
7) IFRS Foundation (2011), Malaysian Financial Reporting Standard 8:
Operating Segments. Retrieved from: www.masb.org.my/pdf/MFRS
%208%20042015.pdf
8) IFRS Foundation (2011), Malaysian Financial Reporting Standard 124:
Related Party Disclosures. Retrieved from: www.masb.org.my/pdf/MFRS
%20124%20042015.pdf
9) IFRS Foundation (2011), Malaysian Financial Reporting Standard 121:
The Effect of Changes in Foreign Exchange Rates. Retrieved from:
www.masb.org.my/pdf/MFRS%20121% 20042015.pdf
1491.0
1492.0
1493.0
1494.0
1495.0
1496.0
1497.0
1498.0
1499.0
1500.0
1501.0
1502.0
1503.0
1504.0
1505.0
1506.0
1507.0
1508.0 APPENDIX
1508.1 APOLLO FOOD HOLDINGS BHD.
1803.0
1804.0
1805.0
1850.0
1851.0
1852.0
1853.0
1854.0
1855.0
1918.0
1919.0
2026.0
2027.0
2028.0
2029.0
2030.0
2031.0
2032.0
2033.0
2034.0
2035.0
2036.0
2037.0
2038.0
2039.0
2040.0
2041.0
2042.0
2043.0
2044.0
2045.0
2046.0
2047.0
2048.0
2049.0
2050.0
2051.0
2052.0
2053.0
2054.0
2055.0
2056.0
2057.0
2058.0
2059.0
2060.0
2061.0
2062.0
2063.0
2095.0
2096.0 ACTIVITY :
2097.0 Inventor 2101.0 R 2102.0 R 2103.0 R 2104.0 R 2105.0
y turnover: M506, M535, M608,7 M671,6 RM580,947
2098.0 175 475 38 77 RM99
2099.0 Cost of RM93, RM86, RM113, RM92,5 ,067
good sale 448 781 208 45 =5.8
2100.0 inventor =5.42 =6.17 =5.38 =7.26 6
y
2106.0 Average 2110.0 2113.0 2116.0 2119.0 2122.0
age of 2111.0 2114.0 2117.0 2120.0 2123.0
inventory 2112.0 _ 2115.0 _ 2118.0 2121.0 2124.0
2107.0 : 365 _365 365 365 365
2108.0 365 days_ days_ days___ days___ days
2109.0 Inventor _ __ _ _ ____
y turnover
5.42 6.17 5.38 7.26 5.86
=67.3 =59.1 =67.84 =50.28 =62.
4 6 29
2125.0 Average 2129.0 _ 2130.0 _ 2131.0 _ 2132.0 _ 2133.0
collection _RM3 _RM1 __RM35, __RM37 ___RM55,17
period: 6,714 6,176 482___ ,346___ 2___
2126.0 __ __ RM982, RM1,00 RM1,
2127.0 Account RM81 RM88 686/365 0,244/3 001,
receivable 0,647/ 2,179/ =13.18 65 663/
2128.0 Annual 365 365 =13.63 365
sale / 365 =16.5 =6.69 =20.
3 10
2134.0 Debt 2138.0 R 2139.0 R 2140.0 R 2141.0 R 2142.0
ratio : M139, M166, M228,4 M188,4 RM255,306
2135.0 360 640 63 68 RM41
2136.0 Total RM39 RM38 RM416, RM345, 2,52
liability 8,514 2,774 461 507 5
2137.0 Total =0.35 =0.44 =0.55 =0.55 =0.6
asset 2
2196.0
2197.0
2198.0