Perdana Annual Report 2010

PETRA PERDANA BERHAD
372113-A
Moving Forward
with Confidence
Bergerak Maju dengan Keyakinan
laporan tahunan
2010
annual report
Moving Forward with Confidence
Bergerak Maju dengan Keyakinan
The upstream sector of the oil and gas services industry endured an
extremely challenging period in 2010. The Petra Perdana Berhad Group
was not spared the impact of a severe industry downturn, coming as it did
in the middle of its fleet renewal programme. Led by a reconstituted Board
and supported by a highly dedicated and experienced management team,
the Group deftly negotiated the most difficult period in its corporate history
and emerged with its growth potential intact. Having successfully ploughed
through the wake of the unprecedented downturn, the Group is now more
robust than ever to reap the benefits of a recovery of the industry.
Dolphins have been faithful companions of mariners since ancient times.

The intelligent mammals are a reflection of our intuition in charting the
right course as we seek new frontiers in the oil and gas services industry.
Sektor perkhidmatan huluan industri minyak dan gas mengalami tempoh

yang sangat mencabar pada 2010. Kumpulan Petra Perdana Berhad
tidak terkecuali daripada bahang kemerosotan industri yang menimpa
tatkala Kumpulan gigih menjayakan program pembaharuan rangkaian
kapalnya. Namun begitu, barisan Pengarah yang baru dengan dibantu
oleh pasukan pengurusan berpengalaman dan berdedikasi berupaya
mengemudi Kumpulan menempuh rintangan paling rumit dalam
sejarahnya tanpa memudaratkan daya pertumbuhan perniagaan.
Setelah berjaya meredah kegawatan yang dahsyat itu,
Kumpulan kini lebih tangkas dalam persaingan merebut peluang yang
muncul daripada pemulihan industri.
Lumba-lumba terkenal sebagai rakan setia pelaut sejak

zaman-berzaman. Kecerdasannya cerminan gerak hati kami dalam
menentukan haluan meneroka peluang baru di perbatasan industri
minyak dan gas.
Group Vision
To be the Leading and Preferred Offshore Marine Operator
for the Upstream Oil & Gas Industry in the Region.
Menjadi Pengendali Marin Luar Pesisir Yang Terkemuka

dan Terpilih bagi Industri Minyak & Gas Huluan di Rantau ini.
Contents
Corporate Information 2 Managing Additional Information 68
Maklumat Korporat 2 Director’s Message 26 Maklumat Tambahan 70
Perutusan Pengarah Urusan 26
Board of Directors 6 Corporate Responsibility 72
Lembaga Pengarah 6 Our Deliveries in 2010 40 Tanggungjawab Korporat 72
Penyerahan Kapal
Directors’ Profile 8 Tahun 2010 40 Financial Statements 74
Profil Pengarah 8 Penyata Kewangan 164
Audit Committee Report 44
Senior Management 18 Laporan Jawatankuasa Audit 47 List of Properties 257
Pengurusan Kanan 18 Senarai Hartanah 257
Statement of
Business Overview 22 Internal Control 50 Statistical Report 258
Tinjauan Perniagaan 22 Kenyataan Kawalan Laporan Statistik 258
Dalaman 51
Group Structure 24 Notice of Annual
Struktur Kumpulan 24 Board of General Meeting 265
Directors’ Statement 52 Notis Mesyuarat
Financial Highlights 25 Kenyataan Lembaga Agung Tahunan 267
Maklumat Penting Kewangan 25 Pengarah 60
Proxy Form
Borang Proksi
2 Petra Perdana Berhad
Corporate Information
Maklumat Korporat
BOARD OF DIRECTORS/LEMBAGA PENGARAH
Shamsul Saad Managing Director/Pengarah Urusan
Dato’ Kho Poh Eng Executive Director/Pengarah Eksekutif
Koh Pho Wat Executive Director/Pengarah Eksekutif
Surya Hidayat Abd Malik Executive Director/Pengarah Eksekutif
Ganesan Sundaraj Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif
Raja Anuar Raja Abu Hassan Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif
Idris Zaidel Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif
Hamdan Rasid Non-Independent Non-Executive Director/Pengarah Bukan Bebas Bukan Eksekutif
COMPANY SECRETARY REMUNERATION COMMITTEE HEADQUARTERS

SETIAUSAHA SYARIKAT JAWATANKUASA IMBUHAN IBU PEJABAT
Leong Oi Wah Idris Zaidel No. 6-8, Jalan 3/3C, Batu 7

(MAICSA 7023802) Chairman/Pengerusi Jalan Ipoh, 68100 Kuala Lumpur
Telephone : 03 – 6257 1111
Ganesan Sundaraj Facsimile : 03 – 6257 7708
AUDIT COMMITTEE
Member/Ahli E-mail : ppb.corporate@petra.com.my
JAWATANKUASA AUDIT
Website : www.petra.com.my
Raja Anuar Raja Abu Hassan
Ganesan Sundaraj
Member/Ahli
Chairman/Pengerusi
REGISTERED OFFICE
Dato’ Kho Poh Eng PEJABAT BERDAFTAR
Idris Zaidel
Member/Ahli
Member/Ahli
No. 6-8, Jalan 3/3C, Batu 7
Jalan Ipoh, 68100 Kuala Lumpur
NOMINATION COMMITTEE Telephone : 03 – 6257 1111
Member/Ahli
JAWATANKUASA PELANTIKAN Facsimile : 03 – 6257 7708
E-mail : regoff@petra.com.my
Chairman/Pengerusi
Ganesan Sundaraj
Member/Ahli
Idris Zaidel
Member/Ahli
laporan tahunan
2010
annual report 3
AUDITORS PRINCIPAL BANKERS Adnan Sundra & Low

JURUAUDIT BANK UTAMA Level 11, Menara Olympia
No.8, Jalan Raja Chulan
Crowe Horwath (AF 1018) United Overseas Bank 50200 Kuala Lumpur
(Malaysia) Berhad (271809-K)
Chartered Accountants
Ranjit Ooi & Robert Low
Level 16, Tower C Hwang DBS Investment No.53, Jalan Maarof
Megan Avenue II Bank Berhad (14389-U) Bangsar
12, Jalan Yap Kwan Seng EON Bank Berhad (92351-V) 59000 Kuala Lumpur
50450 Kuala Lumpur
Alliance Bank Malaysia Berhad Sidek Teoh Wong & Dennis
(88103-W) Level 32, Menara TH Perdana
SHARE REGISTRAR 1001, Jalan Sultan Ismail
HSBC Bank Malaysia Berhad
PENDAFTAR SAHAM 50250 Kuala Lumpur
(127776-V)
Tricor Investors Services Sdn Bhd OCBC Bank (Malaysia) Berhad

(295400-W)
STOCK EXCHANGE LISTING
Level 17, The Gardens North Tower PENYENARAIAN BURSA SAHAM
Mid Valley City, Lingkaran Syed Putra Malayan Banking Berhad (3813-K)
59200 Kuala Lumpur Main Market of Bursa Malaysia Securities Berhad
Telephone : 03 – 2264 3883 Pasaran Utama, Bursa Malaysia Securities Berhad
SOLICITORS
Facsimile : 03 – 2282 1886
PEGUAM Sector : Trading/Services
Sektor Perniagaan/Perkhidmatan
Chris Lim Ting & Partners
T109, 3rd Floor Stock Code : 7108
Centrepoint Bandar Utama Kod Stok
No.3, Lebuh Bandar Utama
47800 Petaling Jaya, Selangor Stock Name : PETRA
Nama Stok
TERDORONG... digamit serlahan peluang
As we turn a page in our corporate history, we

continue to build on our operational efficiency
as the region’s preeminent owner and operator
of medium-size offshore support vessels whilst
exploring fresh grounds for new business
opportunities.
Menyingkap halaman baru dalam lipatan

sejarah Syarikat, kami terus berusaha
meningkatkan kecekapan kami sebagai
pemilik dan pengendali kapal sokongan luar
pesisir bersaiz sederhana sambil mengintai
peluang di bidang perniagaan berkaitan.
Shamsul Saad Koh Pho Wat Surya Hidayat
Board of Managing Director/

Pengarah Urusan
Executive Director/
Pengarah Eksekutif
Abd Malik
Executive Director/
Pengarah Eksekutif
Directors
Lembaga
Pengarah
laporan tahunan
2010
annual report 7
Dato' Kho Poh Eng Raja Anuar Ganesan Sundaraj Hamdan Rasid Idris Zaidel
Executive Director/ Raja Abu Hassan Independent Non-Independent Independent
Pengarah Eksekutif Independent Non-Executive Director/ Non-Executive Director/ Non-Executive Director/
Non-Executive Director/ Pengarah Bebas Pengarah Bukan Bebas Pengarah Bebas
Pengarah Bebas Bukan Eksekutif Bukan Eksekutif Bukan Eksekutif
Bukan Eksekutif
Directors’ Profile
Profil Pengarah
SHAMSUL SAAD
Managing Director/
Pengarah Urusan
Shamsul Saad, a Malaysian, aged 47, 1988 to 1994, he was attached to growth of offshore marine as a core
was appointed as Managing Director of Sarawak Shell Berhad (“Shell”), where business and its expansion as into
Petra Perdana Berhad (“Petra Perdana”) he held several portfolios in the Group’s significant regional player.
on 2 April 2010, after serving as an operations. Prior to joining Petra
Executive Director from 1 July 2009. Perdana, Shamsul also held key He is also Vice President of the
He is also Executive Director of Intra Oil positions at Oakwell Industries and Malaysian Oil & Gas Services Council
Services Berhad (“IOS”) and Perdana Techno Indah Sdn Bhd, a joint-venture (“MOGSC”), the largest O&G services
Marine Offshore (“PMO”), wholly-owned company between Malaysia Shipyard & industry association spearheading the
subsidiaries and offshore marine Engineering and Kuok Group/ development and promotion of the
operators of Petra Perdana. He assumes Perlis Plantation. national oil & gas services sector.
the major role in strategic business
development and marketing and provides Prior to his current position, Shamsul was He does not have any family
key assists for business input to the Senior GM of Business Development for relationships with any member of the
corporate function’s investor relations. Petra Perdana and Executive Director at Board or major shareholder of Petra
Petra Resources Sdn Bhd prior to the Perdana. He does not have any conflict
He holds a Bachelor’s degree in listing of Petra Energy Berhad. He has of interest with Petra Perdana and
Chemical Engineering from the been the primary driving force behind neither has he been convicted of any
University of Florida, USA. the development of the offshore marine offence within the past 10 years.
business, which started with the
During his career, he held various acquisition of IOS. He has been
positions in the oil & gas sector. From instrumental in charting the strategic
laporan tahunan
2010
annual report 9
sektor minyak dan gas. Dari 1988

hingga 1994, beliau bekerja dengan
Sarawak Shell Berhad (“Shell”),
di mana beliau memegang pelbagai
portfolio dalam operasi Kumpulan.
Sebelum menyertai Petra Perdana,
Shamsul turut memegang jawatan
penting dalam Oakwell Industries dan
Techno Indah Sdn Bhd, sebuah usaha
sama antara Malaysia Shipyard &
Engineering dan Kumpulan Kuok/
Perlis Plantation.
Sebelum memegang jawatan sekarang,

Shamsul merupakan Pengurus Besar
Kanan Pembangunan Perniagaan bagi
Petra Perdana dan Pengarah Eksekutif
Petra Resources Sdn Bhd sebelum
penyenaraian Petra Energy Berhad.
Beliau tunggak utama pembangunan
perniagaan marin luar pesisir yang
bermula dengan pengambilalihan IOS.
Beliau memainkan peranan utama
dalam merangka pertumbuhan strategik
marin luar pesisir sebagai satu
perniagaan teras dan perkembangannya
sebagai peneraju serantau yang penting.
Beliau juga merupakan Naib Presiden

Malaysian Oil & Gas Services Council
(“MOGSC”), persatuan industri minyak
dan gas terbesar yang menerajui
pembangunan dan promosi sektor
tersebut di Malaysia.
Beliau tidak mempunyai sebarang

hubungan kekeluargaan dengan
sebarang ahli Lembaga Pengarah atau
pemegang saham utama Petra Perdana.
Shamsul Saad, warganegara Malaysia pembangunan strategik perniagaan dan Beliau tidak mempunyai sebarang konflik
berusia 47 tahun, dilantik sebagai pemasaran serta memberikan input
kepentingan dengan Petra Perdana atau
Pengarah Urusan Petra Perdana Berhad penting mengenai perniagaan dalam
dikenakan tindakan undang-undang
(“Petra Perdana”) pada 2 April 2010, tugas korporat yang menyangkut
atas sebarang kesalahan sepanjang
setelah berkhidmat sebagai Pengarah perhubungan pelabur.
tempoh 10 tahun lepas.
Eksekutif sejak 1 Julai 2009. Beliau juga
merupakan Pengarah Eksekutif Intra Oil Beliau memiliki Ijazah Sarjana Muda
Services Berhad (“IOS”) dan Perdana Kejuruteraan Kimia daripada University
Marine Offshore (“PMO”), subsidiari of Florida, USA.
milik penuh dan pengendali marin luar
pesisir Petra Perdana. Beliau Sepanjang kerjayanya, beliau telah
memainkan peranan utama dalam memegang pelbagai jawatan dalam
Directors’ Profile (cont’d)

Profil Pengarah (samb)
Dato’ Kho Poh Eng, a Malaysian, aged He joined Petra Perdana as Senior
54, was appointed as an Executive General Manager in 2000, and
Director of Petra Perdana Berhad (“Petra spearheaded the listing exercise of Petra
Perdana”) on 4 February 2010. He Perdana, the transfer of the Company’s
holds a Bachelor of Commerce (Honours) listing from the Second Board to the
from the University of Dalhousie, Nova Main Board of Bursa Malaysia Securities
Scotia, Halifax, Canada. He is a Berhad (“Bursa Malaysia”) in January
member of the Remuneration Committee 2003, and the listing of Petra Energy
of Petra Perdana. Berhad on the Main Board of Bursa
Malaysia in July 2007. As the Senior
Dato' Kho started his career with a General Manager, he was also
private limited company involved in instrumental in the development and
crude oil quality and quantity survey of management of the Petra Perdana
petroleum products in 1981 and left in Group’s corporate and finance services.
September 1983 to join F.E. Zuellig (M) He has been key to various corporate
Sdn Bhd as its Branch Manager exercises involving the Petra Perdana
responsible for business development in Group, such as acquisition of
East Malaysia. He was one of the companies, vessels and integrated
co-founders of Damai Teknik Sdn Bhd in services for brown field projects.
1988 providing maintenance,
engineering and manpower services for His brother, Koh Pho Wat, is an
the upstream oil and gas industry in the Executive Director of Petra Perdana. He
country. His role in Damai Teknik does not have any conflict of interest with
DATO' KHO POH ENG includes providing management and Petra Perdana and neither has he been
Executive Director/ technical services to Petra Resources Sdn convicted of any offence within the past
Pengarah Eksekutif Bhd (“PRSB”) since the founding of PRSB 10 years.
in 1988.
Dato’ Kho Poh Eng, warganegara merupakan salah seorang pengasas Kanan, beliau turut memainkan peranan
Malaysia berusia 54 tahun, telah Damai Teknik Sdn Bhd pada 1988 yang dalam membangunkan dan
dilantik sebagai Pengarah Eksekutif menyediakan perkhidmatan menguruskan perkhidmatan korporat
Petra Perdana Berhad (“Petra Perdana”) penyelenggaraan, kejuruteraan dan dan kewangan Kumpulan Petra
pada 4 Februari 2010. Beliau memiliki tenaga kerja untuk industri minyak & gas Perdana, seperti pengambilalihan
Ijazah Perdagangan (Kepujian) huluan di Malaysia. Peranan beliau di syarikat, pembelian kapal dan
daripada University of Dalhousie, Nova Damai Teknik termasuk menyediakan perkhidmatan bersepadu untuk projek
Scotia, Halifax, Kanada. Beliau adalah perkhidmatan pengurusan dan teknikal “brown field”.
ahli Jawatankuasa Imbuhan kepada Petra Resources Sdn Bhd (“PRSB”)
Petra Perdana. sejak penubuhan PRSB pada 1988. Adik beliau, Koh Pho Wat merupakan
Pengarah Eksekutif Petra Perdana. Beliau
Dato' Kho memulakan kerjaya dengan Beliau menyertai Petra Perdana sebagai tidak mempunyai sebarang konflik
sebuah syarikat sendirian berhad yang Pengurus Besar Kanan pada 2000, dan kepentingan dengan Petra Perdana atau
terlibat dalam pengukuran mutu minyak menerajui usaha penyenaraian Petra dikenakan tindakan undang-undang
mentah dan pengukuran kuantiti produk Perdana, pemindahan penyenaraian atas sebarang kesalahan sepanjang
petroleum dalam tahun 1981 dan Syarikat dari Papan Kedua ke Papan tempoh 10 tahun lepas.
meninggalkan syarikat pada September Utama Bursa Malaysia Securities Berhad
1983 untuk menyertai F.E. Zuellig (M) Sdn (“Bursa Malaysia”) pada Januari 2003,
Bhd sebagai Pengurus Cawangan yang dan penyenaraian Petra Energy Berhad
bertanggungjawab ke atas pembangunan di Papan Utama Bursa Malaysia pada
perniagaan di Malaysia Timur. Beliau Julai 2007. Sebagai Pengurus Besar
laporan tahunan
2010
annual report 11
Surya Hidayat Abd Malik, a Malaysian, He also held several management

aged 59, was appointed as an positions in Shell. His last posting prior
Independent Non-Executive Director and to his retirement in February 2010 was
Chairman of Petra Perdana Berhad that of Contracting & Procurement
(“Petra Perdana”) on 4 February 2010. Country Manager for Shell Malaysia
He was then appointed to the Audit Exploration & Production and Regional
Committee but relinquished the positions Manager for Project Supply Chain for
of Chairman and member of Audit Shell Upstream International Asia Pacific.
Committee upon his appointment as Surya was also a member of the Board
Executive Director of Petra Perdana on of Trustees for four of Shell’s pension
23 April 2010. He holds a Master funds for a period of nine years.
Mariner Class 1 (Master Foreign Going)
from the United Kingdom. He is also a Non-Executive Director in
Petra Energy Berhad.
During the period from 1970-1980, he
held various positions on board foreign He does not have any family
going vessels under different flags. He relationships with any member of the
was engaged by Kontena Nasional in Board or major shareholder of Petra
1980 and left to join Sarawak Shell Perdana. He does not have any conflict
Berhad ( “Shell”) in 1981, where he held of interest with Petra Perdana and
various management positions in the neither has he been convicted of any
marine, supply base operations, logistics offence within the past 10 years.
and procurement divisions. He was
SURYA HIDAYAT ABD MALIK assigned various postings overseas,
Executive Director/ including the United Kingdom, Nigeria,
Pengarah Eksekutif Oman and Holland.
Surya Hidayat Abd Malik, warganegara dengan Kontena Nasional pada 1980 menjadi ahli Lembaga Pemegang
Malaysia berusia 59 tahun, dilantik dan kemudian menyertai Sarawak Shell Amanah untuk empat dana pencen Shell
sebagai Pengarah Bebas Bukan Berhad (“Shell”) pada 1981, di mana selama sembilan tahun.
Eksekutif Petra Perdana Berhad beliau memegang pelbagai jawatan
(“Petra Perdana”) dan Pengerusi Petra peringkat pengurusan termasuk di Beliau juga seorang Pengarah Bukan
Perdana pada 4 Februari 2010. bahagian marin, operasi pangkalan Eksekutif Petra Energy Berhad.
Seterusnya beliau dilantik sebagai ahli bekalan, logistik dan perolehan. Beliau
Jawatankuasa Audit tetapi meletak telah ditugaskan di luar negeri dalam Beliau tidak mempunyai sebarang
jawatan Pengerusi dan ahli pelbagai jawatan termasuk di United hubungan kekeluargaan dengan
Jawatankuasa Audit apabila beliau Kingdom, Nigeria, Oman dan Belanda. sebarang ahli Lembaga Pengarah atau
dilantik sebagai Pengarah Eksekutif pemegang saham utama Petra Perdana.
Petra Perdana pada 23 April 2010. Beliau juga telah memegang beberapa Beliau tidak mempunyai sebarang
Beliau mendapat tauliah sebagai Master jawatan pengurusan kanan dalam Shell. konflik kepentingan dengan Petra
Mariner Class 1 (Master Foreign Going) Jawatan terakhir beliau sebelum bersara Perdana atau dikenakan tindakan
daripada United Kingdom. pada Februari 2010 ialah Pengurus undang-undang atas sebarang
Kontrak & Perolehan untuk Shell kesalahan sepanjang tempoh
Dalam tempoh 1970-1980, beliau telah Malaysia Exploration & Production dan 10 tahun lepas.
memegang pelbagai jawatan di atas Pengurus Serantau bagi Rantaian
kapal pelayaran asing di bawah Bekalan Projek bagi Shell Upstream
pelbagai bendera. Beliau bekerja International Asia Pacific. Surya turut

Koh Pho Wat, a Malaysian, aged 50, project management, engineering &
was appointed as an Executive Director maintenance services, offshore marine
of Petra Perdana Berhad (“Petra and support services.
Perdana”) on 4 February 2010.
He was instrumental in developing Petra
He holds a Bachelor of Engineering Perdana’s brownfield business with the
(Industrial) from the Technical University inception of Transfield Petra JV and,
of Nova Scotia, Halifax, Canada. through it, Petra Perdana’s first
integrated maintenance contract from
He is also an Executive Director of Intra Shell Refinery Port Dickson. As the
Oil Services Berhad (“IOS”) and Perdana principal driver, he developed Petra
Marine Offshore (“PMO”), wholly-owned Perdana’s integrated brownfield services
subsidiaries and offshore marine into a major core business by leveraging
operators of Petra Perdana. He is overall the capabilities of integrated
in charge of chartering of vessels and the maintenance into the ExxonMobil major
development of new markets and turnkey retrofit contract and,
ventures for the Petra Perdana Group. subsequently, the initial Shell Topside
Major Maintenance Hook Up and
Koh Pho Wat started his career with Commissioning contract. He has been a
Sarawak Shell Berhad (“Shell”), a key management personnel at every
wholly-owned subsidiary of the Royal significant milestone in the growth of
Dutch/Shell Group of Companies which Petra Perdana Group; and is one of the
is involved in the exploration and key members of the management team
production of oil and gas. He spent for the successful listing of Petra Perdana
13 years with Shell and was involved in on Bursa Malaysia.
various areas of the upstream oil and
gas industry including procurement, His brother, Dato’ Kho Poh Eng, is an
KOH PHO WAT
operations, logistics, project and Executive Director of Petra Perdana.
Executive Director/ materials management. He does not have any conflict of interest
Pengarah Eksekutif with Petra Perdana and neither has he
He joined the Petra Perdana Group in been convicted of any offence within the
1996 and held positions in areas past 10 years.
covering sales of engineered equipment,
Koh Pho Wat, warganegara Malaysia pengeluaran minyak dan gas. Beliau tahap perniagaan teras dengan
berusia 50 tahun, telah dilantik sebagai bersama Shell selama 13 tahun dan menggarap keupayaan penyenggaraan
Pengarah Eksekutif Petra Perdana terlibat dalam pelbagai bidang huluan bersepadu di dalam kontrak besar kerja
Berhad (“Petra Perdana”) pada bagi industri minyak dan gas termasuk pasang siap retrofit daripada
4 Februari 2010. perolehan, operasi, logistik, projek dan ExxonMobil dan seterusnya kontrak
pengurusan material. permulaan Kerja Utama Penyenggaraan,
Beliau memiliki Ijazah Sarjana Muda Penghubungan dan Pentauliahan
Kejuruteraan (Industri) daripada Beliau menyertai Kumpulan Petra Pepasangan Atas daripada Shell. Beliau
Technical University of Nova Scotia, Perdana pada tahun 1996 dan merupakan kakitangan pengurusan
Halifax, Kanada. menyandang jawatan dalam bahagian utama dalam setiap pencapaian penting
penjualan peralatan kejuruteraan, pertumbuhan Kumpulan Petra Perdana
Beliau juga merupakan Pengarah pengurusan projek, perkhidmatan dan salah seorang ahli pengurusan
Eksekutif Intra Oil Services Berhad kejuruteraan & penyenggaraan, marin semasa penyenaraian Petra Perdana di
(“IOS”) dan Perdana Marine Offshore luar pesisir dan perkhidmatan sokongan. Bursa Malaysia.
(“PMO”), subsidiari milik penuh dan
pengendali marin luar pesisir Beliau memainkan peranan penting Abangnya, Dato’ Kho Poh Eng,
Petra Perdana. Beliau adalah penyelia dalam membangunkan perniagaan merupakan Pengarah Eksekutif Petra
keseluruhan urusan penyewaan kapal ‘brownfield’ Kumpulan Petra Perdana Perdana. Beliau tidak mempunyai
dan bertanggungjawab atas melalui penubuhan Transfield Petra JV sebarang konflik kepentingan dengan
pembangunan pasaran dan projek baru dan seterusnya kontrak penyenggaraan Petra Perdana atau dikenakan tindakan
bagi Kumpulan Petra Perdana. bersepadu pertama Petra Perdana undang-undang atas sebarang kesalahan
daripada Shell Refinery Port Dickson. sepanjang tempoh 10 tahun lepas.
Koh Pho Wat memulakan kerjaya Sebagai peneraju utama, beliau telah
dengan Sarawak Shell Berhad (“Shell”) membangunkan perkhidmatan
yang menceburi industri carigali dan brownfield bersepadu Petra Perdana ke
laporan tahunan
2010
annual report 13
Ganesan Sundaraj, a Malaysian, He was attached to an international

aged 49, was appointed as an audit firm Ernst & Young from 1981 to
Independent Non-Executive Director of 1990 and has vast experiences in the
Petra Perdana Berhad (“Petra Perdana”) corporate & restructuring disciplines. He
on 4 February 2010. He is Chairman of also holds position as Director in
the Audit Committee and a member of Analabs Resources Bhd, Pan Asia Pacific
the Nomination and Remuneration Bhd, Promto Bhd, CHG Industries Bhd
Committees of Petra Perdana. and Bukit Katil Resources Bhd.
A Chartered Accountant by profession, He does not have any family

he is a member of the Malaysian Institute relationships with any member of the
of Accountants, an associate member of Board or major shareholder of Petra
the Chartered Institute of Management Perdana. He does not have any conflict
Accountants and a Chartered Audit of interest with Petra Perdana and
Committee Director (CACD) with the neither has he been convicted of any
Malaysian Institute of Internal Auditors. offence within the past 10 years.
GANESAN SUNDARAJ
Independent Non-Executive Director/
Pengarah Bebas
Bukan Eksekutif
Ganesan Sundaraj, warganegara (CACD) dengan Institut Juruaudit Beliau tidak mempunyai sebarang
Malaysia berusia 49 tahun, dilantik Dalaman Malaysia. hubungan kekeluargaan dengan
sebagai Pengarah Bebas Bukan sebarang ahli Lembaga Pengarah atau
Eksekutif Petra Perdana Berhad (“Petra Beliau menyertai syarikat audit pemegang saham utama Petra Perdana.
Perdana”) pada 4 Februari 2010. Beliau antarabangsa Ernst & Young dari tahun Beliau tidak mempunyai sebarang
adalah Pengerusi Jawatankuasa Audit 1981 hingga 1990 dan mempunyai konflik kepentingan dengan Petra
dan juga ahli Jawatankuasa Pelantikan pengalaman yang luas dalam bidang Perdana atau dikenakan tindakan
dan Jawatankuasa Imbuhan Petra korporat dan penstrukturan semula. undang-undang atas sebarang
Perdana. Beliau seorang Akauntan Beliau juga memegang jawatan sebagai kesalahan sepanjang tempoh
Bertauliah dan ahli Institut Akauntan Pengarah Analabs Resources Bhd, Pan 10 tahun lepas.
Malaysia, ahli bersekutu Institut Asia Pacific Bhd, Promto Bhd, CHG
Akauntan Pengurusan Berkanun dan Industries Bhd dan Bukit Katil
Pengarah Jawatankuasa Audit Berkanun Resources Bhd.

Raja Anuar Raja Abu Hassan, Commercial Accounting Manager of
a Malaysian, aged 55, was appointed Sime Darby Plantations; Head, Overseas
as an Independent Non-Executive Operations of Malayan Banking Bhd;
Director of Petra Perdana Berhad (“Petra General Manager Internal Audit of
Perdana”) on 18 March 2010. He is Sapura Holdings and Director, Internal
Chairman of the Nomination Committee Audit of Golden Hope Plantations Bhd.
and a member of the Audit and He has considerable experience in the
Remuneration Committees of Petra financial and reporting systems
Perdana. operating in a number of foreign
countries, having served on numerous
He is a Chartered Accountant by audit/non-audit related assignments in
profession and is a member of the the U.K., Egypt, U.S.A., Singapore,
Malaysian Institute of Accountants, a Indonesia, Germany, the Netherlands,
member of the Malaysian Institute of China, Morocco, South Africa,
Certified Public Accountants, a Fellow of Bangladesh and Vietnam. He also holds
the Association of Chartered Certified position as Independent Director in MSM
Accountants and a Chartered Member of Malaysia Holdings Bhd.
the Chartered Institute of Internal Auditors.
He does not have any family
During his career, he held senior relationships with any member of the
positions in finance and internal audit in Board or major shareholder of Petra
several public listed companies in Perdana. He does not have any conflict
various industry sectors. His broad of interest with Petra Perdana and
RAJA ANUAR working experience included amongst neither has he been convicted of any
RAJA ABU HASSAN others, holding positions as Internal offence within the past 10 years.
Independent Non-Executive Director/ Audit Manager of PROTON Holdings;
Pengarah Bebas Bukan Eksekutif
Raja Anuar Raja Abu Hassan, bidang kewangan dan audit dalaman di Mesir, Amerika Syarikat, Singapura,
warganegara Malaysia berusia 55 tahun, beberapa syarikat awam tersenarai Indonesia, Jerman, Belanda, China,
dilantik sebagai Pengarah Bebas Bukan dalam pelbagai sektor industri. Maghribi, Afrika Selatan, Bangladesh
Eksekutif Petra Perdana Berhad (“Petra Pengalaman kerjanya yang meluas dan Vietnam. Beliau juga memegang
Perdana”) pada 18 Mac 2010. Beliau termasuk memegang jawatan sebagai jawatan Pengarah Bebas MSM Holdings
adalah Pengerusi Jawatankuasa Pelantikan Pengurus Audit Dalaman PROTON Malaysia Bhd.
dan ahli Jawatankuasa Audit dan Holdings; Pengurus Perakaunan
Jawatankuasa Imbuhan Petra Perdana. Komersil Sime Darby Plantations; Ketua Beliau tidak mempunyai sebarang
Bahagian Operasi Luar Negara hubungan kekeluargaan dengan
Beliau seorang Akauntan Bertauliah dan Malayan Banking Bhd; Pengurus Besar sebarang ahli Lembaga Pengarah atau
ahli Institut Akauntan Malaysia, ahli Audit Dalaman Sapura Holdings dan pemegang saham utama Petra Perdana.
Institut Akauntan Awam Bertauliah Pengarah, Audit Dalaman Golden Hope Beliau tidak mempunyai sebarang konflik
Malaysia, Felo Persatuan Akauntan Plantations Bhd. Beliau mempunyai kepentingan dengan Petra Perdana atau
Bertauliah Berkanun dan Ahli Berkanun pengalaman luas dalam sistem dikenakan tindakan undang-undang
Institut Juruaudit Dalaman Berkanun. kewangan dan laporan yang diguna atas sebarang kesalahan sepanjang
pakai di beberapa buah negara asing tempoh 10 tahun lepas.
Sepanjang kerjayanya, beliau telah setelah terlibat dalam banyak tugasan
memegang jawatan kanan dalam berkaitan audit/bukan-audit di U.K.,
laporan tahunan
2010
annual report 15
Idris Zaidel, a Malaysian, aged 40, of Messrs. Adnan, Sundra & Low before
was appointed as an Independent moving on to work at Messrs. Md.
Non-Executive Director of Petra Perdana Tajuddin & Co and Messrs. Hisham,
Berhad (“Petra Perdana”) on 23 April Sobri & Kadir and subsequently setting
2010. He is a member of the Malaysian up his own firm, Messrs. Idris Zaidel &
Bar Council and is a practising lawyer Partners. His areas of expertise are civil
with his own practice in Kuala Lumpur. litigation, corporate, labour, banking
He is Chairman of the Remuneration and conveyancing laws.
Committee and a member of the Audit
and Nomination Committees He does not have any family
of Petra Perdana. relationships with any member of the
Board or major shareholder of Petra
He obtained his degree in Kulliyah of Perdana. He does not have any conflict
Laws from International Islamic of interest with Petra Perdana and
University, Kuala Lumpur in 1995 and neither has he been convicted of any
began his legal career at the chambers offence within the past 10 years.
IDRIS ZAIDEL
Independent Non-Executive Director/
Pengarah Bebas Bukan Eksekutif
Idris Zaidel, warganegara Malaysia Islam Antarabangsa, Kuala Lumpur pada pemegang saham utama Petra Perdana.
berusia 40 tahun, dilantik sebagai 1995 dan memulakan karier guamannya Beliau tidak mempunyai sebarang
Pengarah Bebas Bukan Eksekutif Petra dengan Tetuan Adnan, Sundra & Low konflik kepentingan dengan Petra
Perdana Berhad (“Petra Perdana”) sebelum berhijrah ke Tetuan Md. Tajuddin Perdana atau dikenakan tindakan
pada 23 April 2010. Beliau adalah ahli & Co dan Tetuan Hisham, Sobri & Kadir undang-undang atas sebarang
Majlis Peguam Malaysia dan seorang dan kemudian menubuhkan syarikatnya kesalahan sepanjang tempoh
peguambela dan peguamcara di sendiri, iaitu Tetuan Idris Zaidel & 10 tahun lepas.
syarikatnya sendiri di Kuala Lumpur. Partners. Bidang kepakarannya adalah
Beliau adalah Pengerusi Jawatankuasa litigasi sivil, korporat, buruh, perbankan
Imbuhan dan ahli Jawatankuasa Audit dan pindah hak.
dan Jawatankuasa Pelantikan.
Beliau tidak mempunyai sebarang
Beliau memperoleh ijazah Kulliyah hubungan kekeluargaan dengan
Undang-undang daripada Universiti sebarang ahli Lembaga Pengarah atau

Hamdan Rasid, a Malaysian, aged 51, In 2002, he was appointed as Vice
was appointed as an Non-Independent President (Treasury & Investment) of Affin
Non-Executive Director of Petra Perdana Merchant Bank Bhd. He was also the
Berhad (“Petra Perdana”) on 20 July 2010. Associate Consultant for Ciptaan
Wawasan Sdn Bhd from 2005 to 2007.
He obtained his Degree in Accountancy He is currently the General Manager
from UiTM and is a member of the (Fixed Income) of Investment Department
Malaysian Institute of Accountants. in Lembaga Tabung Haji and a member
He began his career as Senior Internal of the Board of TH Properties Sdn. Bhd.
Audit with Bank Bumiputra Malaysia
Berhad (BBMB) from 1981 to 1987. He does not have any family
He then joined BBMB Discount House in relationships with any member of the
1987 and served as the Deputy Chief Board or major shareholder of Petra
Executive until the year 2000. He was Perdana. He does not have any conflict
later promoted and appointed as the of interest with Petra Perdana and
Vice President of Bumiputra Commerce neither has he been convicted of any
Bank Berhad from year 2000 to 2001. offence within the past 10 years.
Hamdan Rasid
Non-Independent
Non-Executive Director/
Pengarah Bukan Bebas
Bukan Eksekutif
Hamdan Rasid, warganegara Malaysia menyandang jawatan Pemangku Ketua Beliau tidak mempunyai sebarang
berusia 51 tahun, dilantik sebagai Eksekutif sehingga tahun 2000. hubungan kekeluargaan dengan
Pengarah Bukan Bebas Bukan Eksekutif Kemudiannya beliau dinaikkan pangkat sebarang ahli Lembaga Pengarah atau
Petra Perdana Berhad (“Petra Perdana”) dan dilantik Naib Presiden Bumiputra pemegang saham utama Petra Perdana.
pada 20 Julai 2010. Commerce Bank Berhad dari tahun Beliau tidak mempunyai sebarang
2000 hingga 2001. Pada 2002, beliau konflik kepentingan dengan Petra
Beliau memperoleh Ijazah Perakaunan dilantik sebagai Naib Presiden Perdana atau dikenakan tindakan
daripada UiTM dan adalah ahli Institut (Perbendaharaan & Pelaburan) di Affin undang-undang atas sebarang
Akauntan Malaysian. Kerjaya beliau Merchant Bank Bhd. Beliau juga kesalahan sepanjang tempoh
bermula dengan lantikan sebagai Perunding Bersekutu bagi Ciptaan 10 tahun lepas.
Juruaudit Dalaman Kanan di Bank Wawasan Sdn Bhd dari 2005 hingga
Bumiputra Malaysia Berhad (BBMB) dari 2007. Beliau kini berkhidmat dengan
1981 hingga 1987. Lembaga Tabung Haji sebagai Pengurus
Besar (Pendapatan Tetap), Jabatan
Seterusnya beliau menyertai BBMB Pelaburan dan ahli Lembaga Pengarah
Discount House in 1987 dan TH Properties Sdn. Bhd.
Senior Management
Pengurusan Kanan
Shamsul Saad
Managing Director/
Pengarah Urusan
Farid Khan Kaim Khan

Director, Perdana Marine Offshore (PMO)/
Pengarah, Perdana Marine Offshore (PMO)
Soon Fook Kian

General Manager, Corporate Finance/
Pengurus Besar, Kewangan Korporat
Director, Intra Oil Services Berhad/
Pengarah, Intra Oil Services Berhad
Christopher Then
General Manager, Special Projects/
Pengurus Besar, Projek Khas
Teo Swee Hong

Senior General Manager, Technical & Marketing/
Pengurus Besar Kanan, Teknikal & Pemasaran
Abd Razak Abd Aziz

General Manager, Technical (IOS)/
Pengurus Besar, Teknikal (IOS)
Captain Jimmy Wong Mun Nyen

General Manager, Operations (IOS)/
Pengurus Besar, Operasi (IOS)
laporan tahunan
2010
annual report 19
Dato’ Kho Poh Eng

Executive Director/
Pengarah Eksekutif
Surya Hidayat Abd Malik

Executive Director/
Pengarah Eksekutif
Koh Pho Wat

Executive Director/
Pengarah Eksekutif
Edwin Lim
General Manager, Legal/
Pengurus Besar, Undang-undang
David Kwek
Head, Internal Audit/
Ketua, Audit Dalaman
Agnes Yap
Group Accountant/
Akauntan Kumpulan
Captain Abu Samah Ahmad

General Manager, Chartering (IOS)/
Pengurus Besar, Pengurusan Catar (IOS)
Leong Wai Lian

General Manager, Human Resource & Adminstration/
Pengurus Besar, Sumber Manusia & Pentadbiran
Rafeedah A Rahman
General Manager, Perdana Marine Offshore (PMO)/
Pengurus Besar, Perdana Marine Offshore (PMO)
Maslina Abdullah
Head, Commercial & Chartering (PNSB)/
Ketua, Komersil & Pengurusan Catar (PNSB)
HALUAN TEPAT... dalam menjejak kecemerlangan
The poise and agility of the Group as it journeys

towards greater success will be a sight to
behold. It’s a mark of expertise and experience
honed over decades past.
Keterampilan dan ketangkasan Kumpulan

mengatur langkah menyusur tangga kejayaan
pasti meruntun perhatian. Itulah tanda
pengalaman dan ketokohan yang terbina
sejak berdekad.
Business
Overview
Tinjauan
Perniagaan
OFFSHORE MARINE SERVICES support to a host of oil companies. The INTEGRATED BROWNFIELD
(Core Business) services rendered include: SERVICES
(Related Business)
Petra Perdana Berhad provides offshore • Towing, mooring, and anchoring of
marine services for the upstream oil non-self propelled barges, rigs, Petra Perdana, via its 29.6% equity in
& gas (O&G) industry in the domestic floating storage & off-loading (FSO) Main Market listed Petra Energy Bhd
and regional markets. The Company & floating production storage & (“Petra Energy”), is also involved in the
owns and operates a fleet of 24 vessels off-loading (FPSO); integrated brownfield segment of the
to support an array of offshore activities upstream O&G industry.
from exploration, development, facilities • Transportation of drilling, production
installation, hook up and commissioning, and project materials and chemicals; The scope of services provided by Petra
production, operation and maintenance. and Energy includes: top-side major
The Group has a total of 16 newbuilds maintenance, hook-up, commissioning &
• On-board accommodation for
with average age of about two years, construction; engineering, operations &
offshore personnel.
designed and fitted with modern and maintenance; and equipment packaging
reliable international-standard Petra Perdana is gradually phasing out & manufacturing.
equipment to meet the challenging the older vessels to maintain a high level
standards required by the offshore oil of efficiency and reliability across its fleet Petra Perdana and Petra Energy have
and gas industry. as well as lowering the average age of been working closely to maximise the
its fleet. The company is due to take business synergies for mutual benefit.
Over the years the Company has built an delivery of another work barge in 2011
enviable reputation for service excellence that will further lower the average age of
in its core competency of providing offshore the fleet.
laporan tahunan
2010
annual report 23
PERKHIDMATAN MARIN LUAR • Penginapan atas kapal bagi

PESISIR kakitangan luar pesisir.
(Perniagaan Teras)
Petra Perdana kini dalam rangka
Petra Perdana Berhad (“Petra Perdana”) melupuskan kapal-kapal lama bagi
membekal perkhidmatan marin luar mengekalkan tahap kecekapan dan
pesisir bagi sektor huluan industri prestasi semua kapalnya, serta bagi
minyak dan gas di pasaran domestik mengurangkan usia purata rangkaian
dan serantau. Syarikat memiliki dan kapalnya. Syarikat dijadualkan
mengendalikan 24 buah kapal bagi menerima penghantaran sebuah baj
menyokong pelbagai keperluan aktiviti kerja pada 2011 yang akan
industri. Rangkaian kapalnya menyusutkan lagi usia purata kapal.
merangkumi 16 buah kapal baru yang
berusia kira-kira dua tahun, dengan PERKHIDMATAN “BROWNFIELD”
rekabentuk dan peralatan bermutu BERSEPADU
piawaian antarabangsa yang menepati (Perniagaan Berkaitan)
piawaian tinggi yang disyaratkan oleh
perusahaan minyak dan gas luar pesisir. Petra Perdana, melalui kepentingan
ekuiti sebanyak 29.6% dalam syarikat
Setelah sekian tahun beroperasi, yang tersenarai di Pasaran Utama Bursa
Syarikat kini terkenal dengan Malaysia, Petra Energy Berhad (“Petra
kecemerlangan perkhidmatan yang Energy”), turut terlibat dalam
dibekalkannya dalam menyokong penyediaan perkhidmatan “brownfield”
pelaksanaan aneka kerja luar pesisir bersepadu bagi segmen huluan industri
oleh syarikat-syarikat cari gali minyak. minyak & gas.
Perkhidmatan yang disediakan termasuk:
Skop perkhidmatan yang disediakan
• Penundaan, penambatan dan oleh Petra Energy termasuklah:
kemudahan sauh bagi baj, rig, penyenggaraan, penghubungan,
tangki apungan storan & muat pentauliahan dan pembinaan utama
keluar (FSO) & tangki apungan pepasangan atas; kejuruteraan, operasi
storan pengeluaran & muat keluar & penyenggaraan; dan penyediaan
(FPSO) tanpa kipas sendiri; pakej dan pengilangan peralatan.
• Pengangkutan alatan penggerudian, Perdana Perdana dan Petra Energy

pengeluaran, bahan mentah projek bekerjasama rapat bagi memaksimumkan
dan kimia; dan sinergi demi manfaat bersama.
Group Structure
Struktur Kumpulan

372113-A
100% Intra Oil Services Berhad 100% Asiaway Sdn Bhd
100% Perdana Marine Offshore Pte Ltd 100% Osam Marine Sdn Bhd
100% Ampangship Marine Sdn Bhd 100% Kovan Marine Sdn Bhd
100% Petra Offshore Ltd 100% Malawi Marine Sdn Bhd
100% Perdana Mercury Ltd
100% Perdana Venus Ltd
100% Perdana Jupiter Ltd
100% Odin Explorer Navigation Ltd
100% Petra Teknik Sdn Bhd
100% Petra Asia Ltd
100% Perdana Neptune Ltd
100% Perdana Pluto Ltd
100% Perdana Saturn Ltd
55% Perdana Nautika Sdn Bhd
55% Petra Marine Australia Pty Ltd
51% Geoseas Technologies Ltd
29.6% Associate Company: Petra Energy Bhd

laporan tahunan
2010
annual report 25
Financial Highlights
Maklumat Penting Kewangan
TURNOVER NET PROFIT

PEROLEHAN KEUNTUNGAN BERSIH
RM’ Million RM’ Million

RM’ Juta RM’ Juta
800 240
694.3
665.2
605.7
700 200
155.7
543.4
600 160
500 120
87.7
55.9
400 80
254.9
29.3
300 40
200 0
72.0
100 -40
0 -80
06 07 08 09 10 06 07 08 09 10
SHAREHOLDERS’ FUND NET ASSETS PER SHARE

DANA PEMEGANG SAHAM ASET SESAHAM BERSIH
RM’ Million RM
RM’ Juta RM
800 2.4
700 2.1
1.89
563.7
1.83
545.6
504.0
600 1.8
1.48
440.6
500 1.5
1.12
400 1.2
0.85
229.6
300 0.9
200 0.6
100 0.3
0 0
06 07 08 09 10 06 07 08 09 10
Managing Director’s Message

Perutusan Pengarah Urusan
Dear valued and fellow shareholders,
Amid an unprecedented and severe downturn within our

business and operational environment for practically the whole
of 2010, the main task for Petra Perdana Berhad (“Petra
Perdana” or “the Group”) was to survive the year and emerge
as a stronger business entity. This we resolved to achieve in spite
of inheriting fundamental structural changes within the Group
that had put us in a much weaker position than at any time in
our corporate history.
Faced with mounting challenges at corporate and operational

levels within our industry sector, the Group registered a 58%
decrease in turnover and a 346% drop in net profit for the
financial year 2010.
Fundamentally, the significant decline in both the top and bottom

lines had been expected subsequent to the corporate
deconsolidation of our Integrated Brownfield Services business at
now our associate company, Petra Energy Berhad (“PEB”). This
deconsolidation accounted for almost all of the decrease in the
Group’s turnover.
The severe contraction in our offshore marine business

environment continued from early 2009 through to the end of
2010. During that time, even rigs that had already been
contracted for drilling work were off-hired. The previous year’s
severe drop in crude prices was replaced by the volatility in the
commodity’s price recovery. With global economic stability yet
to gain firm footing, growth in energy demand was still very
much in doubt for operators to seriously kickstart the industry to
normal levels.
2010 truly tested every facet of the Group’s capability and

resilience. I am pleased to note that whilst we have surely been
battered, with the relentless determination of our people,
coupled with the support of you, our valued shareholders, we
have weathered this enormous storm to emerge leaner and
stronger in many ways than before. Consequently, 2011 will
witness a steady turnaround of this ship and, come 2012, we
are confident Petra Perdana will once again be making waves
in the marketplace as we return to our more accustomed
position of growth.
On behalf of the Board of Directors, it is my privilege to present

you the Annual Report of Petra Perdana Berhad for the
financial year ended 31 December 2010.
laporan tahunan
2010
annual report 27
Pemegang saham yang dihormati,
Dalam suasana persekitaran perniagaan dan operasi yang

mengalami kemerosotan paling buruk hampir sepanjang tahun
2010, pertimbangan paling penting bagi Petra Perdana Berhad
(“Petra Perdana” atau “Kumpulan”) adalah untuk mengekalkan
daya tahan dan muncul sebagai entiti perniagaan yang lebih
kukuh. Kita bertekad mencapai matlamat ini meskipun mewarisi
struktur asas Kumpulan yang sudah berubah dan meletakkan kita
pada kedudukan paling lemah dalam sejarah korporat Kumpulan.
Disebabkan cabaran yang rumit di peringkat korporat dan

operasi di sektor industri kita, Kumpulan telah mencatat
pengurangan 58% dalam jumlah perolehannya dan penyusutan
346% dalam keuntungan bersihnya bagi tahun kewangan 2010.
Pada dasarnya, kemerosotan ketara dalam kedua-dua ukuran

prestasi kewangan itu sudah dijangka dengan pemisahan
Perkhidmatan Brownfield Bersepadu kami yang kini terletak
dikendalikan syarikat bersekutu kita, Petra Energy Berhad (“PEB”).
Pemisahan ini adalah punca hampir keseluruhan kemerosotan
yang ternyata pada jumlah perolehan Kumpulan.
Penguncupan teruk persekitaran perniagaan marin luar pesisir

berterusan sejak awal tahun 2009 sehingga penghujung tahun
2010. Dalam tempoh tersebut, pelantar minyak yang telah
mendapat kontrak kerja penggerudian ditamatkan sewanya.
Kejatuhan teruk harga minyak mentah pada tahun sebelumnya
digantikan dengan kemeruapan harga pemulihan komoditi itu.
Dengan kestabilan ekonomi global masih di peringkat goyah,
pertumbuhan permintaan tenaga tetap meragukan dan tidak
berupaya merangsang pengusaha supaya memperhebat kegiatan
industri ke paras lazim.
Tahun 2010 benar-benar menguji keupayaan dan daya tahan

Kumpulan dari setiap aspek. Namun begitu, sukacita saya
mengatakan bahawa walaupun kita telah terjejas teruk, dengan
keazaman warga Kumpulan yang tidak mengenal erti putus asa,
beserta dengan sokongan anda, pemegang saham yang kami
hormati, Kumpulan telah merempuh ribut badai ini dan muncul
lebih teguh dan kukuh berbanding sebelumnya, dilihat dari sudut
mana sekalipun. Justeru, tahun 2011 akan menyaksikan
pemulihan berterusan bahtera ini dan, menjelang tahun 2012,
kita yakin Petra Perdana sekali lagi akan mencapai kemajuan
pasaran setelah kita kembali ke landasan pertumbuhan seperti
dahulu.
Bagi pihak Lembaga Pengarah, dengan penuh takzim saya

membentangkan Laporan Tahunan Petra Perdana Berhad bagi
tahun kewangan berakhir 31 Disember 2010.
Managing Director’s Message (cont’d)

Perutusan Pengarah Urusan (samb)
REVIEW OF OPERATIONS
Offshore Marine Services
With the deconsolidation of the
Integrated Brownfield Services, Petra
Perdana’s core business of Offshore
Marine Services had to contend all by
itself with an operating environment of
unabated severe demand contraction in
the green field sub-sector of oil & gas
drilling activities. This was happening
amid practically a continuous growth in
the global supply of new vessels of
similar capability for the duration of a
market downturn.
Our region was not spared this “perfect
storm” of supply overwhelming demand
in a no-growth market environment of Apart from the cash flow impact of the 2010 and the vessels were almost
2010. Hence, our fleet which for the above operational losses, the Group’s immediately taken up by clients at
most part of 2010 was heavily bottom line was also dragged down by reasonable charter rates, especially
dependent on the AHTS serving green the depreciation costs of older assets and within the fourth quarter 2010.
field activities, showed a very low the recognition of one-off impairment
utilisation level overall. The rates for new losses totalling RM8.0 million amid a 3. Focused utilisation strategy for new-
AHTS charters, if any was secured at all, downturn in the vessel market. built assets, which could only begin
faced a decline to 70% or even 50% of in the third quarter with critical mass
those of a normal year. Inevitably, Management took very strong cost- from new deliveries, was fully
overall operating costs had to increase cutting measures to reduce operational realised by the fourth quarter. This,
with a pick-up in new vessel deliveries to costs of assets, especially the older coupled with a strategic management
the Group’s fleet. ones, as competition from new-built decision to implement hard cost-
vessels increased. cutting measures to contend with
To make matters even more challenging, non-chartered older assets, had
as the global shipbuilding congestion Nevertheless, 2010 provided a measure capped their operational costs.
started to ease, a tightly packed delivery of comfort for the Group operationally as
schedule for seven (7) new units took it entered 2011, for the following reasons: 4. All the above measures raised the
place in 2010. This translated to a further utilisation rate of our fleet of new-
1. The chartering environment for the built vessels and the two remaining-
lowering of utilisation of the fleet while
market segments of our mid-size chartered older assets to more than
these new vessels were being mobilized
AHTS began to show a real sign of 76% for the first time since 2009. In
and fitted out for work, not to mention the
improvement with robust tendering addition, non-operational costs for
toll on the Group’s bottom line arising
activities, with new charters picked older non-operating assets were
from the high cost of mobilization. Cash
up in the fourth quarter as a result of capped at nearly two-thirds of the
flow was significantly impacted by
a much more aggressive approach to previous costs.
mobilization-related costs incurred,
our chartering strategy.
higher financing charter deposits and/or
down payments needed to satisfy more 2. Delivery of our designated 5. All of the above had enabled the
stringent requirements in the financial “downturn-buffering” assets of brown fourth quarter, typically the worst
market. Fortunately they represented one- field support vessels of work barges quarter due to the monsoon, to turn
off costs to the Group’s operations. and work boats began at the end of
laporan tahunan
2010
annual report 29
TINJAUAN OPERASI tunai terjejas teruk oleh kos-kos untuk melaksanakan langkah
berkaitan mobilisasi yang ditanggung, pengurangan mendadak kos
Perkhidmatan Luar Pesisir deposit biaya catar yang lebih tinggi mengekalkan aset lama belum
Dengan pemisahan Perkhidmatan dan/atau bayaran pendahuluan yang bersewa, telah mengehadkan kos
Brownfield Bersepadu, Petra Perdana diperlukan untuk memenuhi syarat- kendaliannya.
secara sendirian mengharungi syarat lebih ketat dalam pasaran
kewangan. Mujurlah perbelanjaan ini 4. Semua langkah di atas telah
penguncupan permintaan yang meningkatkan kadar guna
berterusan dalam perniagaan terasnya kos operasi yang tidak berulang.
rangkaian kapal baru, beserta dua
di subsektor green field dan kegiatan Selain menanggung kesan terhadap kapal lama, kepada lebih daripada
penggerudian minyak dan gas. Semua aliran tunai, Kumpulan turut dibebani 76% buat pertama kali sejak tahun
ini berlaku ketika dunia menyaksikan kos susut nilai aset-aset lama dan 2009. Selain itu, kos bukan
pertumbuhan dalam pengeluaran kapal pengiktirafan kerugian tunggal rosot kendalian bagi aset lama yang tidak
baru dengan keupayaan setara aset nilai berjumlah RM8.0 juta di tengah- beroperasi telah dikurangkan ke
Kumpulan hampir sepanjang tempoh tengah kelembapan pasaran kapal. paras yang hampir mencecah dua
kejatuhan pasaran. pertiga kos sebelumnya.
Pengurusan mengambil langkah tegas
Rantau kita tidak terlepas daripada mengekang perbelanjaan untuk 5. Semua langkah di atas telah
suasana bekalan berlimpah mengurangkan kos kendalian aset, membolehkan suku keempat,
menenggelami permintaan dalam terutamanya aset lama, dengan lazimnya suku tahun yang paling
keadaan pasaran yang merudum pada meningkatnya persaingan daripada lesu akibat musim tengkujuh,
2010. Oleh yang demikian, rangkaian kapal yang baru siap dibina. mencatat prestasi terbaik tahun
kapal kita yang pada hampir keseluruhan 2010 bagi Petra Perdana, sama ada
tahun 2010 amat bergantung pada Walau bagaimanapun, dari segi operasi, dari segi operasi mahupun
AHTS yang menyediakan perkhidmatan kesan tahun 2010 melegakan Kumpulan kewangan. Strategi-strategi ini
bagi menyokong kegiatan green field, apabila ia melangkah masuk ke tahun dilihat mampu memberi kesan positif
telah menunjukkan kadar guna yang 2011, atas sebab-sebab berikut: yang mapan terhadap untung rugi
sangat rendah secara keseluruhannya. Kumpulan apabila kita melangkah
Kadar sewa bagi AHTS baru, jika 1. Persekitaran sewa kapal bagi
segmen pasaran AHTS bersaiz ke tahun 2011 dengan harapan
terdapat tawaran kerja, boleh merosot mencapai kadar sewa yang lebih
ke paras 70% atau 50% kadar bagi sederhana kita mula menunjukkan
tanda-tanda kemajuan sebenar baik, terutamanya pada separuh
tahun lazim. Sebaliknya, kos operasi kedua (apabila peningkatan
keseluruhan Kumpulan sudah apabila kegiatan penawaran tender
semakin rancak dan kontrak catar permintaan sudah menyerap kapal
semestinya meningkat selaras dengan yang belum disewa), manakala
pembesaran rangkaian kapal kita diraih pada suku keempat susulan
strategi penyewaan yang agresif. kontrak dengan jangkamasa yang
dengan ketibaan kapal-kapal baru. lebih panjang akan menjaminkan
2. Penyerahan aset “penampan pemulihan.
Keadaan bertambah mencabar apabila kemerosotan” dalam bentuk baj
kerancakan pembinaan kapal di seluruh kerja dan bot kerja penyokong
dunia mula mengendur pada tahun Perkhidmatan Brownfield
operasi brown field bermula pada Bersepadu
2010, sedangkan pada masa itu penghujung 2010. Sebaik sampai,
Kumpulan berdepan dengan kapal-kapal ini terus direbut Pemisahan Perkhidmatan Brownfield
penyerahan bertubi-tubi tujuh (7) unit pelanggan pada kadar sewa yang Bersepadu susulan pelupusan 25.0%
kapal baru. Perlu difahami bahawa munasabah. kepentingan ekuiti Petra Energy Berhad
kadar guna rangkaian kapal kita (“PEB”) pada Disember 2009 mungkin
pastinya menurun ketika kapal-kapal 3. Strategi penggunaan bertumpu bagi dilihat sebagai petanda bahawa
yang baru diserahkan sedang kapal baru, yang hanya boleh sumbangan PEB terhadap prestasi
dilengkapkan dengan peralatan perlu dimulakan pada suku ketiga apabila keseluruhan Kumpulan pada masa
dalam persediaannya untuk memulakan jumlahnya di tahap tertentu, telah hadapan pasti tidak seberapa.
perkhidmatan. Hal ini juga terlaksana sepenuhnya menjelang Sebaliknya, pihak pengurusan Petra
meninggalkan kesan mendalam pada suku keempat. Ini, beserta dengan Perdana yakin bahawa PEB berupaya
kedudukan kewangan Kumpulan. Aliran keputusan strategik pengurusan

in the best performance of 2010 for structure, the Group registered a turnover
Petra Perdana, both operationally of RM254.9 million and a net loss of
and financially. These strategies seem RM72.0 million for the financial year
to provide sustainable positive ended 31 December 2010 (“FY2010”).
impact on our bottom line as we This represents a decrease of 58% and
enter 2011 with expectations, 346% respectively, as compared to the
especially in the second half, of preceding year’s turnover of RM605.7
better charter rates (with surplus million and net profit of RM29.3 million.
vessels being absorbed by a now
The significant decrease in turnover and
rising demand) and longer-term
profitability was partly attributable to the
contracts that would comfortably
deconsolidation of the Integrated
ensure a turnaround.
Brownfield Services segment arising from
Integrated Brownfield Services the divestment of a 25.0% equity stake in • Other one-off costs affecting financial
PEB in December 2009. performance include an impairment
Whilst the deconsolidation of the
Integrated Brownfield Services arising The following elements also contributed loss on property, plant and equipment
from the divestment of a 25.0% equity significantly to our weaker financial amounting to RM3.0 million and
stake in Petra Energy Berhad Group performance: impairment loss on receivables
(“PEB”) in December 2009 may be seen amounting to RM5.0 million;
• Lower vessel utilisation and a
by many as a sign that PEB is now • Another major one-off cost impacting
decrease in charter rates resulting
destined to only have a minor role in the bottom line, though not the cash
from the period’s mainly AHTS-heavy
contributing to the Group’s overall flow, was the fair value adjustment of
fleet operating in an environment of
performance, the management, however, RM5.9 million arising from the
fewer drilling activities and a surplus
remains optimistic of its future prospects adoption of FRS 139 in FY2010; and
of competing vessels;
in contributing to the bottom line.
• Delivery of seven new vessels brought • We also made a gain on divestment
The Group has established a strong
a corresponding increase in of PEB shares worth RM12.7 million
working relationship with PEB, now an
operating financing lease costs to help lift the bottom line in the
associated company via the Group’s
amounting to RM40.3 million; year 2009.
remaining 29.6% equity holding. It has a
fully active, professional and capable • Further lowering of utilisation rate
representation on the Board of PEB to due to operational non-availability of CORPORATE EXERCISES
assist in the growth of this business and up to two-and-a-half months for each We take great pride of the fact that the
the restoration of its margins. Even of the seven newest vessels as a result majority of the equity in the Company
though the operating environment for of their congested deliveries within has always been held by long-term
Integrated Brownfield Services was not the year; institutional and private investors who
severely affected by the recent downturn
• New vessel deliveries also resulted in have placed great trust in our integrity
in the oil & gas sector, PEB saw its
a high total mobilisation cost of and business decisions. As plainly
margins eroded nonetheless.
approximately RM12.3 million, which evident, in spite of the known negatives
is a one-off cost as 2011 will see the expected for the year 2010, our
FINANCIAL REVIEW shareholders passed through our motion
last delivery in our fleet renewal
With such a challenging backdrop in our programme. A work barge will be for a strategic placement of 10% of Petra
business environment and after inheriting delivered early in the second half of Perdana’s total equity at the time to Nam
a fundamentally changed corporate the year; Cheong Dockyard and later
laporan tahunan
2010
annual report 31
menyumbangkan keuntungan yang kegiatan penggerudian berkurangan PERKEMBANGAN KORPORAT

bermakna kepada Kumpulan. dan jumlah kapal yang bersaingan
sudah melebihi permintaan; Kami berbangga dengan hakikat
Sehubungan itu, Kumpulan telah bahawa sebahagian besar daripada
membina kerjasama yang kukuh • Penyerahan tujuh kapal baru ekuiti Syarikat sentiasa dipegang
dengan PEB, kini syarikat bersekutu membawa kepada peningkatan pelabur institusi dan pelabur
Kumpulan melalui pengekalan 29.6% selari kos pembiayaan pajak kendali perseorangan bagi jangka panjang.
kepentingan ekuiti. Petra Perdana berjumlah RM40.3 juta; Mereka meletakkan kepercayaan yang
mempunyai wakil yang aktif, profesional tinggi terhadap ketulusan hati dan
• Pengurangan selanjutnya kadar keputusan perniagaan kami. Yang jelas,
dan berkeupayaan di dalam Lembaga guna kerana setiap satu daripada
Pengarah PEB untuk membantu di sebalik kesan negatif yang dijangka
tujuh kapal terbaru terpaksa bagi tahun 2010, para pemegang
pertumbuhan perniagaan dan menangguhkan perkhidmatan
memulihkan margin keuntungannya. saham telah meluluskan usul
masing-masing sehingga hampir penempatan strategik sebanyak 10%
Sekalipun persekitaran operasi bagi dua bulan setengah kerana tarikh
Perkhidmatan Brownfield Bersepadu tidak daripada jumlah ekuiti Petra Perdana
penyerahan kapal-kapal itu ketika itu kepada Nam Cheong
terjejas teruk oleh kelembapan sektor berturutan terlalu rapat;
huluan industri minyak dan gas tahun Dockyard dan, selepas itu, mereka
kebelakangan, margin PEB tetap terhakis. • Penyerahan kapal-kapal baru juga membuat permohon untuk melanggan
menyebabkan jumlah kos mobilisasi 1.5 kali jumlah terbitan hak saham
meningkat kepada lebih kurang biasa yang ditawarkan dengan waran
TINJAUAN KEWANGAN percuma boleh tukar.
RM12.3 juta. Ini adalah kos sekali
Dengan latar belakang yang mencabar tanggung memandangkan tahun • Pembesaran modal saham melalui
dalam persekitaran perniagaan kita dan 2011 akan menyaksikan penyerahan langkah yang tersebut di atas telah
selepas mewarisi struktur korporat yang kapal terakhir dalam program dilaksanakan seperti berikut:
jauh berubah, Kumpulan telah mencatat pembaharuan rangkaian kapal kita.
perolehan sebanyak RM254.9 juta dan Sebuah barj kerja akan diserahkan 1. Penempatan strategik saham
kerugian bersih sebanyak RM72.0 juta pada separuh kedua 2011; kepada Nam Cheong Dockyard
bagi tahun kewangan berakhir 31 sebanyak 29.76 juta saham
Disember 2010 (“FY2010”). Ini • Lain-lain kos sekali tanggung yang dengan harga RM1.32 setiap
bermakna perolehan Kumpulan telah mempengaruh prestasi kewangan saham, yang menjana RM39.28
merosot 58% berbanding perolehan termasuk kerugian rosot nilai ke atas juta bagi Kumpulan,
RM605.7 juta pada tahun sebelumnya, harta, loji dan peralatan berjumlah disempurnakan pada 2 Julai
manakala keuntungan bersih pula RM3.0 juta dan kerugian rosot nilai 2010.
merosot 346% daripada RM29.3 juta ke atas penghutang berjumlah
dalam tempoh yang sama. RM5.0 juta; 2. Terbitan hak sebanyak 122.76
juta saham baru beserta dengan
Kemerosotan ketara dalam perolehan • Satu lagi kos sekali tanggung yang 61.38 juta waran boleh cerai
dan keuntungan Kumpulan menjejaskan pendapatan bersih percuma pada harga RM0.59
sebahagiannya berpunca daripada Kumpulan – bukan aliran tunai - setiap saham yang dilanggan
pemisahan segmen Perkhidmatan ialah pelarasan nilai wajar pemegang saham sedia ada
Brownfield Bersepadu susulan pelupusan sebanyak RM5.9 juta dengan (kecuali Nam Cheong
pelaburan 25.0% kepentingan ekuiti penerapan FRS 139 pada FY2010; Dockyard), disempurnakan pada
dalam PEB pada Disember 2009. dan 1 November 2010 dan menjana
• Selain itu, keuntungan Petra Perdana tunai berjumlah RM72.43 bagi
Faktor-faktor berikut turut meninggalkan Kumpulan.
kesan terhadap prestasi kewangan kita: pada tahun 2009 telah ditokok oleh
keuntungan hasil pelupusan saham • Perolehan penempatan dan terbitan
• Kadar guna kapal yang lebih PEB bernilai RM12.7 juta. Jumlah ini hak berjumlah RM111.71 juta.
rendah dan penurunan kadar sewa telah membantu meningkatkan
akibat rangkaian kapal yang prestasi kewangan Kumpulan pada
memberatkan AHTS, sedangkan tahun itu.

oversubscribed our rights issue of turnaround to a certain recovery our to ensure that we are able to establish a
ordinary shares with free detachable shareholders can expect stronger returns strong lead and gain foothold in the
warrants by 1.5 times. in the coming years. regional market’s future growth in
medium-to-deepwater offshore activity.
• The enlargement of share capital via Our business goal will always be to
This we have now firmly established.
the above corporate exercises was maximise the annual rate of gain on a
With the finalisation of all deliveries and
carried out as follows: per share basis for our shareholders and
consolidation of our fleet, this business is
we hope to achieve that goal in the very
1. The strategic placement of shares now to be driven by the new-built
near future. Already signs are our
to Nam Cheong Dockyard of vessels. Having survived the storm of
business is primed for growth in 2012
29.76 million shares at RM1.32 2010 and moving into 2011, we feel the
with the improvement in the charter rate
per share, which netted the business model will again prove its
environment and the full consolidation of
Group RM39.28 million, was resilience with a strong foundation to
our new-built fleet by 2011.
completed on 2 July 2010. spur growth just as the Group did in its
early years.
2. The rights issue of 122.76 million STRATEGIC INITIATIVES
This need to find a balance between our
new shares together with 61.38 Over the course of FY2010 and up to the brown field and green field assets is a
million free detachable warrants, time of writing, our experienced critical component of our business.
which were subscribed at Management Team and the Group’s Following the sale in late 2009 of three
RM0.59 per rights share by employees implemented several forward- new brown field assets to PEB, the Group
existing shareholders (excluding looking strategic initiatives to ensure that is likely to undertake exercises to ensure
Nam Cheong Dockyard), was we got back on the road to profitability the balance and focus on medium-size
completed on 1 November 2010 as quickly as possible. units are restored within its fleet of new-
and netted the Group RM72.43
Leveraging on a Proven Business built vessels. A balanced fleet will
million in cash.
Model improve Petra Perdana’s resilience to the
• Proceeds of the placement and rights vagaries of green field business and
issue totalled RM111.71 million. The Group’s business model has been a
unique one in the offshore marine
industry. Due to the Group’s client-driven
DIVIDEND
origins, and hence perspective, our
While remaining steadfastly committed to marine business from its very inception
creating positive shareholder value and endeavoured to achieve a balanced fleet
rewarding our shareholders, the Directors profile of green field assets (comprising
do not recommend the payment of any the lucrative but very cyclical
dividend in respect of the financial year environment of AHTS services support to
ended 31 December 2010. exploration and drilling work) and
brown field assets (comprising more
The Board is mindful of the need to
stable though less of premium potential
maintain a balance between providing a
return work barges and work boats that
healthy dividend income to shareholders
support existing production,
and ensuring Petra Perdana’s future
maintenance and upgrading work).
capital requirements are sufficiently met
in order to sustain its financial strength Additionally, since its inception in 2004,
and fuel business growth. We are our offshore marine business model of
confident that as our business makes the medium capacity vessels was designed
laporan tahunan
2010
annual report 33
DIVIDEN perniagaan Kumpulan didorong mengurangkan pendedahann Kumpulan

keperluan pelanggan, maka perspektif terhadap risiko kemerosotan mendadak
Syarikat sentiasa beriltizam untuk perniagaan marinnya sejak dari awal kegiatan cari gali dan penggerudian
mewujudkan nilai positif pemegang lagi terjurus pada usaha mengimbangi yang menjejaskan permintaan pasaran
saham dan memberi ganjaran kepada rangkaian kapalnya antara yang sesuai dan kadar sewa AHTS. Oleh yang
para pemegang saham. Walau dengan kerja green field (membabitkan demikian, Kumpulan bercadang
bagaimanapun, Lembaga Pengarah khidmat sokongan AHTS yang melupuskan beberapa buah kapal green
tidak mengesyorkan pembayaran menguntungkan tetapi tertakluk pada field untuk mencapai nisbah yang selesa
sebarang dividen bagi tahun kewangan kitaran kerja cari gali dan antara aset green field dan aset
berakhir 31 Disember 2010. penggerudian) dan aset brown field brown field.
Lembaga prihatin akan keperluan (merangkumi khidmat baj kerja dan bot
kerja yang pulangannya lebih stabil Meneruskan Pelupusan Aset
mengimbangi pengagihan pendapatan Lama
dividen yang baik kepada pemegang tetapi kurang lumayan dalam
saham dengan kepastian modal masa menyokong kerja pengeluaran, Dengan persekitaran marin luar pesisir
hadapan Petra Perdana, demi penyenggaraan dan penaiktarafan). yang bertambah baik dan mudah tunai
mempertahankan kedudukan Sejak permulaannya pada tahun 2004, pasaran kewangan yang semakin cair,
kewangannya supaya mampu model perniagaan marin luar pesisir kita prospek bagi pelupusan aset lama
menyemarakkan pertumbuhan bagi kapal berkapasiti sederhana telah dilihat lebih positif pada tahun 2010
perniagaan. Kami yakin bahawa dirangka dengan tujuan membina dan tahun-tahun seterusnya. Justeru,
apabila perniagaan Kumpulan keupayaan mendahului persaingan kami berkemungkinan menyambung
menjalani pemulihan ke tahap tertentu, supaya mampu bertapak di pasaran semula pelupusan aset lama setelah
para pemegang saham boleh serantau untuk menceburi aktiviti luar beberapa tahun tertangguh jika
mengharapkan pulangan lebih baik pesisir dari perairan sederhana dalam mendapat tawaran harga yang
pada tahun-tahun mendatang. hingga ke tepian laut dalam. Ini telah munasabah pada tahun 2011.
Matlamat perniagaan kita adalah untuk pun berjaya dicapai. Perniagaan ini kini
sentiasa memaksimumkan kadar dipacu oleh kapal baru dengan Membentuk Perkongsian
keuntungan tahunan bagi setiap saham selesainya penyerahan semua kapal Strategik
dan kami berharap dapat mencapai yang ditempah dan penyerapannya ke Akibat daripada keputusan Lembaga
matlamat ini dalam jangka masa dalam rangkaian kapal Kumpulan. Pengarah terdahulu untuk menjual tiga
terdekat. Sudah ada tanda yang Setelah berjaya mengharungi badai aset baru brown field kepada PEB,
menunjukkan perniagaan kita bersedia gelora tahun 2010 dan melangkah ke Kumpulan telah kehilangan aliran tunai
mencapai pertumbuhan pada tahun tahun 2011, kami merasakan model dan keuntungan yang banyak serta
2012 dengan pemulihan persekitaran perniagaan ini akan sekali lagi penampan kemerosotan dalam
kadar sewa dan penyatuan sepenuhnya membuktikan daya tahannya dengan subsektor perniagaan green field.
kapal-kapal baru ke dalam rangkaian asas yang kukuh untuk merangsang
sedia ada menjelang 2011. pertumbuhan sama seperti yang dilalui Ini menekankan betapa perlunya
Kumpulan pada tahun-tahun awal Kumpulan mencari sumber baru
pelaksanaannya. pendapatan pada masa hadapan untuk
INISIATIF STRATEGIK digandingkan dengan perniagaan
Keperluan untuk mendapatkan terasnya yang semakin pulih. Kami
Sepanjang tempoh FY2010 dan keseimbangan antara aset brown field percaya perkongsian strategik yang
sehingga perutusan ini ditulis, Pasukan dan aset green field adalah komponen dibentuk pada tahun 2010 akan
Pengurusan dan kakitangan Kumpulan penting dalam perniagaan kita. memberikan Kumpulan kekuatan
yang begitu berpengalaman telah Berikutan penjualan pada lewat tahun tambahan yang diperlukan:
melaksanakan beberapa langkah 2009 sebanyak tiga aset brown field
strategik berdaya maju supaya baru kepada PEB, Kumpulan 1. Perspektif positif dan tegas Lembaga
Kumpulan kembali mencatat keuntungan berkemungkinan mengambil langkah Pengarah dan Pengurusan kedua-
secepat yang mungkin. untuk memulihkan keseimbangan ini dua Petra Perdana dan PEB (serta
dan menumpukan rangkaian kapal pemilik saham utamanya) untuk
Memanfaatkan Model
berasaskan unit-unit bersaiz sederhana memastikan perhubungan kerja
Perniagaan Terbukti
yang baru. Rangkaian yang seimbang yang rapat diyakini dapat
Model perniagaan Kumpulan adalah akan meningkatkan daya tahan Petra memulihkan sinergi antara
model yang unik dalam industri marin Perdana terhadap turun naik perniagaan masing-masing
luar pesisir. Disebabkan asal-usul perniagaan green field dan sehingga memberikan sumbangan

significantly reduce the Group’s overall has proven to be a significant up in the construction of new rigs to
susceptibility to sudden declines in positive to our business. To date Nam replace older tonnage as well fulfil new
exploration and drilling activities, Cheong has a 9.1% equity stake in and future demand.
impacting market demand and charter Petra Perdana. We are leveraging on
We are cautiously optimistic that this
rates for AHTS. As such, the Group plans our mutually beneficial relationship
trend will grow even further as the year
to dispose of some green field vessels to to get new-built vessels to provide a
progresses and activities will be truly
achieve a comfortable ratio between revenue stream as early as possible.
ramped up in the second half of the
green field and brown field assets. This includes an agreement for the
year and throughout 2012. Political
Group’s operating subsidiaries to
Older Asset Disposal to Resume instability in major oil & gas producing
manage the vessel chartering and
areas such as in the Middle East will
With offshore marine environment operations of any Nam Cheong
spur vigorous spending by oil majors in
improving and financial market liquidity vessels yet unsold but ready for work.
stable and safe regions in order to
easing, the prospects for older-asset In addition, we can tap into Nam
replenish their reserves and meet the
disposals seem more positive beyond Cheong’s global client base and co-
rising production demand.
2010. Therefore, we expect a possible opt a very strong marketing network
resumption of the long delayed disposal for the sale of older assets or even
Regional and Domestic Industry
of our older assets at acceptable value our new assets in our consolidation
Trend
in 2011. process of re-balancing fleet make-
up between the green field and We at the Group are seeing our regional
Tapping Strategic Partnerships brown field sub-sectors. markets moving positively into the same
As a result of the previous Board’s mode with tentative demand growth in
decision to sell the three new brown field INDUSTRY TRENDS AND Q4, 2010 and a reasonably robust
assets to PEB, the Group lost significant PROSPECTS tendering activities are becoming a
cash flow and profit as well as an norm – something not been seen since
Global Industry Trend in General
important buffer against a downturn in early 2007.
the green field sub-sector of the business. 2011 has already seen the price of
The Group notes, however, that by early
crude oil stabilising in a rising trend
This puts further emphasis on the need 2011 Malaysia has and seems to
beyond USD90 per barrel. This seems to
for the Group to seek new revenue continue to be at the forefront of the
have come in tandem with a relatively
streams moving forward to complement regional E&P activities and hence
stable global economic recovery,
its improving core business. We believe provide the largest demand overall for
particularly in developing countries that
the strategic partnerships forged in 2010 OSV market in the region. Again, the
serve as the world’s engine of growth in
would provide the Group with the pick-up in OSV chartering and a more
oil demand today. Global financial
additional strength needed: robust tendering environment, both
liquidity has also eased sufficiently to
domestic and regional, seems to be
1. The positive and resolute perspectives spur growth in E&P and development
primarily driven by the revival of projects
of the current Boards and activities to meet this demand.
that were shelved following the crash of
Managements at both Petra Perdana
This positive trend in the global economy
and PEB (and its new controlling
has definitely kick-started E&P projects
shareholder) to ensure a close
that were put on hold or delayed by the
working relationship, we believe, will
oil majors over the last two years. Very
restore the synergies between the
big E&P and development projects that
respective businesses and, eventually,
had been put on hold, such as those in
return significant positive contribution
Brazil, West Africa and, to a certain
to the Group’s bottom line.
extent, Australia, are now being put
2. The inclusion of Sarawak-based back on track, spurring overall demand
shipbuilder, Nam Cheong Dockyard in the marketplace for rigs and OSV to
Sdn Bhd, as a strategic shareholder the extent that we are now seeing a pick-
laporan tahunan
2010
annual report 35
positif yang ketara terhadap rangkaian kapal Kumpulan antara Arah Aliran Industri Serantau
pendapatan Kumpulan. aset green field dan aset brown field. dan Domestik
2. Kemasukan jurubina kapal dari Kami melihat pasaran serantau
ARAH ALIRAN DAN PROSPEK
Sarawak, Nam Cheong Dockyard berkembang dalam aliran serupa
INDUSTRI
Sdn Bhd, sebagai pemegang saham dengan menampakkan bibit
strategik telah terbukti memberikan Arah Aliran Industri Sejagat pertumbuhan permintaan pada Q4,
manfaat yang sangat positif kepada 2010 manakala penawaran tender pula
perniagaan kita. Nam Cheong kini Tahun 2011 telah menyaksikan harga kian meningkat – sesuatu yang tidak
mempunyai 9.1% kepentingan ekuiti minyak mentah secara berterusan dialami sejak awal tahun 2007.
dalam Petra Perdana. Kami berada dalam arah aliran menaik
menggunakan perhubungan saling melepasi USD90 setong. Arah aliran ini Kumpulan sedia maklum bahawa pada
bermanfaat ini untuk memastikan selaras dengan ketekalan pemulihan awal tahun 2011, Malaysia telah
kapal yang baru dibina berupaya ekonomi dunia, terutamanya di menonjol sebagai penggerak utama
menjana aliran pendapatan secepat kalangan negara membangun yang kegiatan E&P serantau dan terus
mungkin. Ini termasuk perjanjian bertindak sebagai enjin pertumbuhan memainkan peranan itu, justeru,
bagi anak-anak syarikat kendalian dunia dari sudut permintaan minyak menyediakan permintaan terbesar bagi
Kumpulan untuk menguruskan semasa. Mudah tunai kewangan global pasaran OSV di rantau ini. Sekali lagi,
penyewaan dan pengendalian juga telah cukup longgar untuk pemangkin utama peningkatan
mana-mana kapal Nam Cheong merangsang pertumbuhan E&P dan penyewaan OSV dan kekerapan
yang belum terjual tetapi bersedia kegiatan pembangunan bagi memenuhi penawaran tender di peringkat domestik
untuk beroperasi. Selain itu, kita permintaan ini. mahupun serantau adalah kegiatan
boleh memanfaatkan senarai Arah aliran positif ekonomi dunia ini pemulihan projek-projek yang tertunda
pelanggan Nam Cheong di serata telah mendorong pelaksanaan projek- akibat kegawatan ekonomi dunia pada
dunia serta rangkaian projek E&P yang tertangguh atau tahun 2008. Ini petanda baik bagi
pemasarannya yang meluas bagi ditunda oleh syarikat minyak utama kegiatan pasaran domestik Kumpulan,
tujuan penjualan aset lama sepanjang tempoh dua tahun yang terutamanya apabila PETRONAS
mahupun aset baru yang terlibat lepas. Projek-projek E&P dan projek mengumumkan pengurangan aktivitinya
dalam proses pengimbangan pembangunan yang besar tertangguh, di luar negara untuk menumpukan
seperti yang berlaku di Brazil, Afrika perhatian di peringkat domestik yang
Barat dan di Australia, kini dijalankan pastinya merangsang peningkatan
semula, lantas merangsang permintaan permintaan mengatasi jangkaan yang
pasaran bagi pelantar minyak dan OSV berpunca daripada pelancaran semula
sehingga mencetuskan peningkatan program yang ditangguhkan oleh
pembinaan pelantar baru untuk Kontraktor Perkongsian
menggantikan yang lama serta bagi Pengeluaran/Syarikat Minyak Utama
memenuhi permintaan tambahan pada yang beroperasi di Malaysia.
masa hadapan.
Di peringkat tempatan, tekanan
Kami berpendapat arah aliran ini akan daripada Kerajaan untuk menjadikan
berterusan dengan aktiviti pengeluaran E&P sebagai penyumbang terbesar
benar-benar meningkat menjelang kepada KDNK negara sejajar dengan
separuh kedua tahun ini dan sepanjang Program Transformasi Ekonominya telah
tahun 2012. Ketidakstabilan politik di pun menyaksikan beberapa inisiatif E&P
beberapa kawasan pengeluaran minyak yang baru, yang tentunya boleh
dan gas utama seperti di Asia Barat meningkatkan kegiatan dalam industri
akan merangsang perbelanjaan besar- marin luar pesisir. Pemberian kontrak
besaran oleh syarikat minyak utama brown field baru dan lebih besar oleh
dunia di kawasan yang lebih aman dan Petronas Carigali (yang tertinggi dari
selamat untuk menambahkan rizab segi keperluan dan nilai kegiatan
masing-masing dan memenuhi kenaikan berbanding sebelumnya), kerja
permintaan daripada industri pembuatan. penyahaktifan ditenderkan buat kali

late 2008. This augurs well especially for

our domestic market activities, as the
pull-back announced by PETRONAS to
re-focus and increase its activities
domestically will provide a higher
demand than already anticipated from
the re-starting of held-up programmes
by all the domestic Production Sharing
Contractors/Oil Majors operating
domestically.
On the home front, the pressure from the
Government to have E&P as the biggest
contributor to the national GDP in line
with its Economic Transformation
Programme has already seen some new
E&P initiatives, which can only increase The increase in demand within the have firmly established within the region,
activities in the offshore marine industry. region and the pull of lucrative external its utilisation rate is definitely trending
There have been awards of new and markets on competition especially for upwards from around 76% in Q1, 2011.
larger brown field contracts from medium-to-deepwater capable AHTS, A utilisation rate in excess of 80% seems
Petronas Carigali (the highest in activity are fair reasons for us to be cautiously achievable by the second half of the year
requirements and values than ever optimistic that the rise in AHTS charter in a rising rate regime for mid-size
before), the first de-commissioning work rates seen in 2011 is set to continue. The AHTS, which is more limited in supply
tendered out for the first time in many much smaller number of deliveries into relative to smaller AHTS and more in
years, the awards for development of the global market for our range of mid- demand relative to much larger AHTS.
marginal oil fields and further medium- class AHTS expected within 2011 and This provides us the indication that AHTS
to-deepwater projects rolled-out by 2012 – as a result of later constructions charter rates for our segment of 10,000
PETRONAS as a result of this domestic after the financial meltdown of late 2008 BHP to 12,000 BHP will be more than on
push. None of this has yet to impact our had dried up new orders – makes for a the mend to boost the business segment’s
offshore marine sector. comforting scenario moving forward. top and bottom lines in 2012.
Our lower construction cost compared to
All these developments augur well for Our new-built work barges and work
any newer deliveries and even new
our offshore marine services industry. boats, we believe, will continue to
orders would put the Group’s new-built
However, we believe the Group is in an provide the longer-term charter buffer
AHTS fleet in a more competitive
even better position than most with its and stability that we need, albeit with
position. The commercial advantage of
new assets in place to take up work slightly lower charter rates relative to
our AHTS would be much bigger relative
within the segment of the OSV market previous highs with more competition.
to new constructions, as the new
that is anticipated to be most in demand We have and will continue to leverage
regulations coming into effect in 2011
for the type and environment of these on our strong track record with mainly
will push up construction costs.
E&P initiatives. repeat major customers in the region.
Viewed in that light, we believe that we
In the meantime, significant capping of
GROUP BUSINESS PROSPECTS are poised to see charter rates move in
operational costs of older assets will
earnest in the second half of 2011 as
Firstly, it is important to note that except continue via strong cost control measures
more mid-size vessels are absorbed into
for one new work barge expected for we have put in place for laid-up older
work regionally while a significant
delivery early in the second half of 2011, units. All of the above, we believe, will
number would move out to fulfil greater
all of our new-built assets are already in bring a turnaround to Petra Perdana into
demands in high-activity areas such as
place. As at the date of writing all 16 positive bottom-line territory by end-
West Africa and Brazil.
new-built vessels in our fleet are on 2011 and growth will be witnessed in
charter. Our focus will be to strive for With our new-built fleet heavy on long- 2012. In addition, we hope, as lower
longer-term charters for this fleet. term chartering and on the markets we specification markets and financial
laporan tahunan
2010
annual report 37
pertama dalam tempoh beberapa tahun, dan 2012 – disebabkan ketiadaan kadar sewanya susut sedikit disebabkan
pembangunan medan minyak marginal tempahan baru setelah bermulanya bertambahnya persaingan. Kami telah
dan pelaksanaan projek di perairan pembinaan kapal bagi tempahan yang dan akan terus bersandar pada rekod
sederhana dalam ke tepian laut dalam dibuat selepas berakhirnya krisis prestasi mantap kita untuk mengekalkan
yang dilancarkan oleh PETRONAS kewangan 2008 – senario masa kepercayaan pelanggan, terutamanya
semuanya berpunca daripada tekanan hadapan melegakan kami. Kos pelanggan ulangan yang sudah lama
ini. Tiada satu pun daripada usaha ini pembinaan kapal kita yang lebih berada di rantau ini.
yang sudah mula menyumbang kepada rendah berbanding dengan mana-mana
sektor marin luar pesisir kita. serahan baru dan tempahan baru akan Sementara itu, pengurangan besar-
meningkatkan daya saing AHTS besaran kos kendalian aset lama akan
Semua perkembangan ini membawa Kumpulan. Kelebihan daya saing AHTS diteruskan melalui langkah-langkah
petanda baik buat industri kita akan lebih ketara berbanding pengawalan kos secara ketat yang kami
perkhidmatan marin luar pesisir kita. binaan baru pesaing apabila semakan laksanakan ke atas kapal-kapal tanpa
Seterusnya, kami percaya bahawa peraturan binaan kapal dikuatkuasakan tugasan. Kami percaya bahawa dengan
Kumpulan berada dalam kedudukan pada tahun 2011 lantas menaikkan terlaksananya semua langkah yang
yang lebih baik berbanding kos pembinaan. disebutkan di atas Petra Perdana akan
kebanyakan pesaingnya dengan kembali mencatat keuntungan
tersedianya aset baru untuk Berdasarkan faktor di atas, kami menjelang akhir tahun 2011 dan
melaksanakan kerja-kerja di segmen percaya peningkatan kadar sewa akan menyaksikan pertumbuhan pada tahun
pasaran OSV yang dijangkakan paling jelas disaksikan pada separuh kedua 2012. Selain itu, kami berharap,
banyak diperlukan memandangkan 2011 setelah lebih banyak kapal apabila cairan pasaran kewangan dan
kesesuaiannya dengan jenis dan bersaiz sederhana diambil menyertai pasaran bagi kapal berspesifikasi
persekitaran inisiatif E&P berkenaan. aktiviti serantau manakala sebilangan sederhana bertambah baik kelak,
besar yang lain berpindah untuk penjualan aset lama pada harga
PROSPEK PERNIAGAAN memenuhi permintaan besar di kawasan munasabah seperti yang berlaku pada
KUMPULAN yang berlimpahan peluang kerja seperti MV Emerald, baj kerja yang berusia 34
di Afrika Barat dan Brazil. tahun, akan meningkatkan aliran tunai
Pertama sekali, perlu ditekankan dan keuntungan Kumpulan pada tahun
Dengan rangkaian kapal baru kita 2011 dan 2012.
bahawa kesemua aset baru kita sudah
tertumpu pada penyewaan jangka
ada di dalam tangan dan sedia Selain itu, kami menjangkakan
panjang di pasaran serantau, di mana
digunakan kecuali sebuah baj kerja perhubungan kerja rapat Kumpulan
perniagaan Kumpulan sudah berakar
baru yang dijangka diserahkan pada dengan PEB akan meningkatkan lagi
umbi, pastinya kadar guna kapal kita
awal separuh kedua tahun 2011. Pada nilai PEB dengan mengembalikan
akan melonjak dari paras kira-kira 76%
tarikh perutusan ini ditulis, kesemua 16 margin yang telah terhakis dalam tahun
pada Q1, 2011. Kadar guna melebihi
buah kapal baru kita sedang sebelumnya.
80% dijangka tercapai menjelang suku
disewakan. Tumpuan kami seterusnya
kedua tahun semasa, ketika kadar sewa
adalah berusaha meraih catar jangka Lembaga Pengarah berasa yakin
bagi AHTS bersaiz sederhana turut
panjang bagi keseluruhan rangkaian bahawa tahun 2010 adalah tahun
meyaksikan peningkatan. AHTS bersaiz
kapal baru ini. pemulihan Kumpulan. Penentu untung
demikian lebih terhad bilangannya
rugi perniagaan ini adalah gabungan
Peningkatan permintaan di rantau ini, berbanding AHTS bersaiz kecil,
kadar guna dan kadar sewa, dan tanpa
disertakan dengan daya tarikan manakala dari segi permintaan pula
beban kos besar mobilisasi kapal pada
pasaran luar yang menjanjikan AHTS bersaiz lebih besar tidak begitu
FY2010 dan kesan hapus kira akibat
peningkatan keuntungan besar kepada diperlukan. Ini dilihat sebagai petunjuk
pelaksanaan piawaian perakaunan FRS
para pesaing terutamanya bagi AHTS bahawa kadar sewa AHTS bagi segmen
139, kami maklum bahawa sebahagian
yang berupaya beroperasi di laut 10,000 BHP sehingga 12,000 BHP
besar daripada kerugian yang dialami
sederhana hingga ke tepian laut dalam, bukan sekadar akan pulih malah
tahun lepas tidak akan berulang tahun ini.
adalah sandaran wajar bagi kami mampu merangsang perolehan dan
bersikap optimis bahawa kenaikan keuntungan segmen perniagaan ini Petra Perdana telah berjaya menempuh
kadar sewa AHTS pada tahun 2011 pada tahun 2012. badai gelora dan ini meyakinkan kami
akan berterusan. bahawa Kumpulan kini bersedia untuk
Seterusnya, kami turut yakin bahawa
mengorak langkah memperkukuh
Dengan jangkaan jumlah kapal baru baj kerja dan bot kerja yang baru akan
perniagaannya.
yang memasuki pasaran dunia akan terus menjadi penampan kestabilan
menurun dengan mendadak bagi AHTS pendapatan Kumpulan kerana tempoh
segmen tumpuan kita pada tahun 2011 penyewaannya lebih panjang meskipun

market liquidity improves, further sales of shareholders with successful placement have helped steer us through the rough
older assets at reasonable prices such as approvals and a rights issue that was waters onto safer shores. My sincere
that of MV Emerald, the 34 year-old well over-subscribed. gratitude goes to the Board
work barge, will further enhance our Representative of Lembaga Tabung Haji,
We shall remain committed to ingraining
cash flow and increase our bottom-line one of our main shareholders, for the
this strong governance embodied within
figures both in 2011 and 2012. confidence and support of all our
the Group’s very DNA by practice and by
strategic decisions in FY2010. I trust we
Additionally, we expect the Group’s close its institutionalised check and balance
will all carry through together to take
working relationship with PEB will further within the Board’s committees and a finely
Petra Perdana to the next level of growth.
enhance the latter’s value by restoring balanced composition of executive and
margins that had been eroded in the truly independent non-executive directors. Finally I must pay tribute to the steely
previous year. determination and sacrifices of my fellow
Our commitment to remain true to the Executives and Management who took
The Board is cautiously optimistic that
pledge we made last year to our on the thankless task of not just raising
2011 will be a turnaround year for us.
shareholders we will continue to hold true. the titanic but to manage it through the
This business is all about the combination
minefields in order to return the vision
of utilisation and charter rates, and
ACKNOWLEDGEMENTS we promised our hard-working and
without the burden of FY2010’s massive
faithful employees.
one-off mobilisation costs and the write- On behalf of the Board of Directors of Petra
down impact of implementing FRS 139 Perdana, I convey our utmost gratitude and Petra Perdana Group for a long time
accounting standards, we know that a appreciation to you, our valued had been a well respected corporate
large chunk of last year’s losses will be shareholders, for your worthy support and entity in the oil & gas business, both in
absent this year. faith in us. We will not disappoint. its financial performance and its
management and governance quality.
Petra Perdana has definitely weathered a Our gratitude also goes to our valued We will return to that place once more to
mighty storm and we are confident that customers, business partners and stay and, as always, in our own way.
the Group is now in a position to emerge suppliers for your steadfast support and
the stronger for it. belief in us to weather these challenging Thank you.
times. We look forward to your
CORPORATE GOVERNANCE continued support and a mutually
beneficial future.
Throughout its 20-year history, Petra
Perdana has always been a We appreciate sincerely the many fund
management-driven company. The new managers and analysts for your
Board of Directors, which consists since unwavering support and belief in the
February 2010 of previous management capabilities of the Management and the
executives, consistently strives to measure Board and that our track record will see
up to its own high governance us through. A special mention must be
expectations and to ensure it retains the made of the Minority Shareholders’
respect and faith of shareholders. Watchdog Group which is always there
to ensure the integrity in our governance
Our openness, as evident in all our
and that we are at our honest best.
announcements and the transparency of
our corporate exercises even in the most To my colleagues on the Board, thank
difficult and challenging business you for your many wise counsel and
environment, has been repaid by our insight on prudence and value which
laporan tahunan
2010
annual report 39
URUS TADBIR KORPORAT Kami juga berterima kasih kepada wawasan yang dijanjikan kepada
sekalian pelanggan, rakan niaga dan kakitangan yang cekal bertungkus-lumus
Sepanjang 20 tahun sejarah Petra pembekal yang kami hormati atas sepanjang tempoh getir itu.
Perdana, pembangunan Kumpulan telah sokongan padu anda dan keyakinan
dipacu oleh pihak pengurusan. terhadap kami sewaktu menghadapi Kumpulan Petra Perdana, sebagai entiti
Lembaga Pengarah baru, yang sejak saat-saat yang mencabar. Kami korporat, sekian lama disegani
Februari 2010 merangkumi ahli-ahli mengharapkan sokongan yang pengusaha industri minyak dan gas,
yang dahulunya eksekutif pengurusan berterusan daripada anda demi meraih baik dari segi prestasi kewangannya
Kumpulan, sentiasa berusaha mencapai manfaat bersama pada masa hadapan. mahupun kualiti pengurusan dan urus
kecemerlangan urus tadbir yang sebati tadbirnya. Kita pasti kembali ke tempat
dengan hasratnya sendiri untuk Kepada para pengurus dana dan yang dicita-citakan itu sekali lagi,
memastikan ia kekal dihormati dan penganalisis, dengan ikhlas kami mengikut cara kita sendiri seperti biasa.
dipercayai oleh para pemegang saham. menghargai sokongan padu dan
keyakinan anda terhadap keupayaan Terima kasih.
Sikap terbuka kami, sebagaimana yang
dapat dilihat pada semua pengumuman Pengurusan dan Lembaga Pengarah
dan ketelusan amalan korporat dan seterusnya kepercayaan bahawa
Kumpulan meskipun diselubungi Kumpulan pasti mengatasi segala
persekitaran perniagaan yang rumit dan cabaran berpadukan rekod prestasi
mencabar, telah dihargai para kami. Penghargaan istimewa kami
pemegang saham dengan meluluskan tujukan kepada Badan Pengawas
usul penempatan saham dan kemudian Pemegang Saham Minoriti (MSWG)
melanggan terbitan hak secara yang sentiasa di sisi kami untuk
memastikan keunggulan urus tadbir SHAMSUL SAAD
berlebihan. Pengarah Urusan
kami dan memastikan kami bertindak
Kami beriltizam melaksanakan urus sebaik mungkin.
tadbir mantap yang terkandung dalam
DNA Kumpulan dengan Kepada rakan sejawat dalam Lembaga
membudayakan amalan uji dan imbang Pengarah, terima kasih atas nasihat baik
di peringkat jawatankuasa Lembaga dan pandangan bijaksana anda dari
Pengarah serta dengan memastikan segi berhemat dan tokok nilai yang
keseimbangan jitu komposisi Lembaga membantu kita menempuh gelora
antara pengarah eksekutif dan sehingga sampai ke pantai damai.
pengarah bukan eksekutif yang benar- Ucapan setulus terima kasih saya
benar bebas. ditujukan khusus kepada Ahli Lembaga
yang mewakili Lembaga Tabung Haji,
Kami berjanji akan terus mendukung salah satu pemegang saham utama kita,
hasrat Kumpulan yang kami ikrarkan atas keyakinan dan sokongan terhadap
kepada pemegang saham pada tahun semua keputusan strategik kami pada
lepas. FY2010. Saya percaya kita semua akan
bersama-sama membawa Petra Perdana
PENGHARGAAN ke tahap pertumbuhan seterusnya.
Bagi pihak Lembaga Pengarah Petra Akhir sekali, sewajarnya saya
Perdana, saya ingin mengucapkan merakamkan penghargaan ke atas
ribuan terima kasih dan setinggi-tinggi keazaman dan pengorbanan rakan
penghargaan kepada anda, pemegang pengurusan kanan dan eksekutif yang
saham yang kami hormati, atas menggalas tugas rumit, ibaratnya bukan
sokongan dan kepercayaan tidak setakat mengapungkan kapal karam
berbelah bahagi anda kepada kami. malah mengemudikannya melalui
Kami tidak akan mengecewakan anda. medan periuk api untuk kembali ke
Our Deliveries In 2010

Penyerahan Kapal Tahun 2010
MARCH 2010
PETRA SOVEREIGN
3,200 bhp workboat
MARCH 2010
PETRA MAJESTIC
12,150 bhp AHTS vessel
MARCH 2010
PETRA ADMIRAL
laporan tahunan
2010
annual report 41
MARCH 2010
PETRA EXCELSIOR
300men work barge
JUNE 2010
PETRA MARATHON
JULY 2010
PETRA SUPERIOR
300men work barge
KEKUATAN BERPADU... masa hadapan dipacu bakat
The performance of a management-driven company

hinges on the ability of its talented staff to pool their
resources and push the boundary. The Group prides
itself in nurturing a work culture geared towards
excellence and sustainable growth.
Prestasi syarikat yang dipacu pengurusan terletak

pada kebolehan kakitangan berbakat menggembleng
sumber ke sempadan kemampuan. Syarikat
berbangga dengan pemupukan budaya kerjanya
yang terjurus ke arah kecemerlangan dan
pertumbuhan lestari.
Audit Committee Report

MEMBERS OF THE AUDIT The Committee members are appointed 3. Reporting Line of the Audit
COMMITTEE by the Board of Directors, which in its Committee
opinion would exercise independent
The current members of the Audit judgement based on the structure and The Audit Committee reports directly
Committee are as follows: composition of the Committee. to the Board of Directors.
Ganesan Sundaraj The Secretary to the Board of Directors 4. Responsibilities of the Audit
Chairman shall also be secretary of this Committee. Committee
(Independent Non-Executive Director)
2. Meetings of the Audit The Audit Committee is responsible
Raja Anuar Raja Abu Hassan Committee for the following:
Member
(Independent Non-Executive Director) The Audit Committee shall meet at • To examine the manner in which
least four times a year during the management ensures and
Idris Zaidel finalization of the financial accounts of monitors the adequacy of the
Member the Company and the Group for the nature, extent and effectiveness
(Independent Non-Executive Director) quarterly announcements to Bursa of accounting and internal
Malaysia Securities Berhad. The control systems;
principal focus of any other meeting(s)
TERMS OF REFERENCE OF THE will be on management control and • To examine and review the
AUDIT COMMITTEE internal audit. adequacy and effectiveness of
management and operations;
The Audit Committee is a committee of At the request of the Chair, the other
the Board of Directors. The Committee Executive Directors and other • To review the statutory accounts
does not have executive powers. executives (in particular the Head of and other published financial
Internal Audit) will be in attendance at statements and information;
1. Membership of the Audit Committee meetings or for selected
Committee agenda items. The representatives of • To monitor relationships with
the external auditors may also be external auditors, to ensure that
The Audit Committee shall comprise invited to attend the meetings. there are no restrictions on the
at least three Non-Executive scope of the statutory audit; to
members of the Board of Directors of The Audit Committee has the authority make recommendations on the
which at least two-thirds of the to convene meetings with the external auditors’ appointment,
Committee members are Independent auditors and/or the internal auditors remuneration and dismissal; and
Directors. The members choose their without the presence of other Directors to review the activities, findings,
chair from the independent and employees of the Company, conclusions and recommendations
composition of the Committee. whenever deemed necessary. of the external auditors;
laporan tahunan
2010
annual report 45
• To review arrangements with the following attendance record: annual audited financial statements
established by management for for FY2009 at its meeting on 27
compliance with regulatory and Audit April 2010, and the quarterly
financial reporting requirements; Committee financial statements for the first,
Members Attendance second and third quarters of FY2010
• To approve the appointment or at its meetings on 27 May 2010,
termination of the Head of Ganesan Sundaraj 5/5 25 August 2010 and 24 November
Internal Audit who shall report (Appointed on 2010 respectively, before
5 February 2010)
directly to the Committee and recommending the same for the
have a right of direct access to Board’s approval;
Raja Anuar Raja 4/4
the Chair of the Committee at all
Abu Hassan
times; to review the adequacy of b) The Audit Committee deliberated on
(Appointed on 18 March 2010)
the scope, functions, competency the External Auditors’ report on the
and resources of the internal observations made in the course of
Idris Zaidel 3/4
audit function and that it has the (Appointed on 23 April 2010) the audit at its meetings on
necessary authority to carry out 25 February 2010;
its work; to receive and review Surya Hidayat 1/1
reports from the Head of Internal Abd Malik c) The Audit Committee approved the
Audit; and on occasion to (Appointed on 5 February 2010 2010 Internal Audit Plan and the
commission audit engagements to and ceased as Member on Group Risk Management Framework
23 April 2010)
be conducted on the Committee’s at its meeting on 25 February 2010.
behalf; and The head of Internal Audit presented
Ahmad Haji 1/1
at every Audit Committee meeting
Mohd Sharkan
• To perform any other duties as the Group’s Internal Audit’ reports on
(Resigned on 28 February 2010)
required by Bursa Malaysia the status and progress of its internal
Securities Berhad or any other audit assignments including the
regulatory bodies. summary of audit reports issued,
SUMMARY OF ACTIVITIES OF THE
audit recommendations and
AUDIT COMMITTEE
The purview of the Audit Committee Management’s response to the
extends to all the operations within the recommendations.
The Audit Committee activities during the
Company and the Group. financial year ended 31 December 2010
(“FY 2010”) encompassed the following: d) On 27 April 2010, the Audit
Committee reviewed the Statement of
AUDIT COMMITTEE MEETINGS a) In overseeing financial reporting, the Internal Control and recommended it
HELD DURING THE FINANCIAL Audit Committee reviewed the for inclusion in the 2009 Annual
YEAR 2010 quarterly financial statements for the Report;
fourth quarter and year ended
The Audit Committee held five meetings 31 December 2009 (“FY2009”) at its e) The Audit Committee reviewed the
during the financial year under review meeting on 25 February 2010, the recurrent related party transactions
Audit Committee Report (cont’d)
entered into by the Group at its carried out its reviews based on the provided non-audit services where the
meeting on 27 May 2010; and 2010 Internal Audit Plan which was engagement does not impair the
developed using a risk-based approach. independence or objectivity of the
f) On 24 November 2010, the Audit The main focus of audit assignments External Auditors.
Committee reviewed the External were for three most active companies in
Auditors’ Audit Planning the Group. The main activities of the Based on the External Auditors’ review,
Memorandum comprising their scope Internal Audit function in 2010 focused in accordance with applicable Approved
of audit and proposed fees for the on the following: Standards on Auditing in Malaysia, the
statutory audit for FY2010. financial statements for FY2010 were
• Recurrent related parties drawn to give a true and fair view of the
During the financial year, the Audit transactions audit; financial position of the Group in
Committee met with the External Auditors accordance with the Companies Act
twice without the presence of the • Vessel repairs and 1965 and approved accounting
Management and Executive Directors to maintenance audits; standards. The performance of the
discuss on key concerns and obtain external audit function has been
feedback relating to the Company’s • Vessel dry docking audits; reviewed and assessed based on agreed
affairs. Nothing has come to the performance criteria as set out in the
attention of the Audit Committee that • Trade payables audit; External Auditors’ Audit Planning
causes them to believe that the financial Memorandum, timelines and adequacy
reporting is inconsistent with the • IT network security audit; of resources to achieve the agreed scope
accounting standards and other legal of the external audit. The Audit
requirements. • Risk assessment workshop. Committee has recommended the
re-appointment of the External Auditors
All the Internal Audit activities for for FY2011.
INTERNAL AUDIT FUNCTION FY2010 were conducted by the in-house
audit team. There were no areas of the
The Board obtains sufficient assurance of Internal Audit function which were STATEMENT IN RELATION TO
the effectiveness of the system of internal outsourced with the exception of the IT ALLOCATION OF OPTIONS
control in the Group, through regular network security audit. During the PURSUANT TO EMPLOYEES’
reviews and appraisals conducted by the financial year 2010, an amount of SHARE OPTION SCHEME
Group Internal Audit Department, which RM286,352 was incurred in respect of (“ESOS”)
reports directly to the Audit Committee. both the Group’s internal audit function
The Audit Committee determines the and the outsourced audit. As there were no allocations of options
adequacy of the scope, function and during the financial year 2010,
resources of the Internal Audit function. there was no verification exercise
EXTERNAL AUDIT FUNCTION conducted by the Audit Committee.
In its endeavour to provide reasonable
assurance on the state of internal control Besides performing the planned statutory
in the Group, the Internal Audit function audit, the External Auditors also
laporan tahunan
2010
annual report 47
Laporan Jawatankuasa Audit

AHLI-AHLI JAWATANKUASA Ahli-ahli Jawatankuasa dilantik oleh 3. Garis pelaporan
AUDIT Lembaga Pengarah, yang pada Jawatankuasa Audit
pendapat mereka akan melaksanakan
Ahli-ahli Jawatankuasa Audit adalah pertimbangan bebas berdasarkan Jawatankuasa Audit melapor secara
seperti berikut: struktur dan komposisi Jawatankuasa. terus kepada Lembaga Pengarah.
Ganesan Sundaraj Setiausaha kepada Lembaga 4. Tanggungjawab

Pengerusi Pengarah hendaklah juga menjadi Jawatankuasa Audit
(Pengarah Bukan Eksekutif Bebas) setiausaha Jawatankuasa ini.
Jawatankuasa Audit
Raja Anuar Raja Abu Hassan 2. Mesyuarat Jawatankuasa bertanggungjawab ke atas perkara-
Ahli Audit perkara berikut:
(Pengarah Bukan Eksekutif Bebas)
Jawatankuasa Audit akan
• Untuk memeriksa cara pihak
bermesyuarat sekurang-kurangnya
Idris Zaidel pengurusan memastikan dan
empat kali setahun semasa semakan
Ahli memantau tahap dan
akhir akaun kewangan Syarikat dan
(Pengarah Bukan Eksekutif Bebas) keberkesanan sistem perakaunan
Kumpulan bagi pengumuman suku
dan kawalan dalaman;
tahunan kepada Bursa Malaysia
Securities Berhad. Tumpuan utama
TERMA RUJUKAN • Untuk memeriksa dan mengkaji
mesyuarat (mesyuarat-mesyuarat)
JAWATANKUASA AUDIT kecukupan dan keberkesanan
akan diberikan kepada kawalan
pengurusan dan operasi;
pengurusan dan audit dalaman.
Jawatankuasa Audit adalah sebuah
jawatankuasa Lembaga Pengarah. Atas permintaan Pengerusi, • Untuk mengkaji akaun berkanun
Jawatankuasa tersebut tidak mempunyai para Pengarah Eksekutif dan dan penyata serta maklumat
kuasa eksekutif. eksekutif lain (khususnya Ketua Audit kewangan lain yang disiarkan;
Dalaman) akan menghadiri
1. Keahlian Jawatankuasa mesyuarat Jawatankuasa atau bagi • Untuk memantau hubungan
Audit perkara-perkara tertentu dalam dengan juruaudit luar, untuk
agenda. Wakil-wakil juruaudit luar memastikan bahawa tidak ada
Jawatankuasa Audit hendaklah juga boleh dijemput untuk menghadiri sekatan ke atas skop audit
terdiri daripada sekurang-kurangnya mesyuarat. berkanun; untuk mengesyorkan
tiga orang ahli Bukan Eksekutif pelantikan, imbuhan dan
Lembaga Pengarah yang mana Jawatankuasa Audit mempunyai pemecatan juruaudit; dan untuk
sekurang-kurangnya dua pertiga kuasa untuk mengadakan mesyuarat mengkaji kegiatan, penemuan,
daripada ahli Jawatankuasa adalah dengan juruaudit luar dan/atau kesimpulan dan pengesyoran
para Pengarah Bebas. Ahli-ahli juruaudit dalaman tanpa kehadiran juruaudit luar;
memilih pengerusi mereka daripada para Pengarah lain dan kakitangan
komposisi Bebas Jawatankuasa. Syarikat, bila-bila dianggap perlu.
Laporan Jawatankuasa Audit (samb)
• Untuk mengkaji aturan yang bawah kajian dengan rekod kehadiran tahun berakhir 31 Disember 2009
dibuat oleh pengurusan supaya yang berikut: (“FY2009”) dalam mesyuaratnya
mematuhi keperluan peraturan pada 25 Februari 2010, penyata
dan pelaporan kewangan; Ahli kewangan teraudit tahunan bagi
Jawatankuasa FY2009 dalam mesyuaratnya pada
• Untuk meluluskan pelantikan Audit Kehadiran 27 April 2010, dan penyata
atau penamatan perkhidmatan kewangan suku tahunan bagi suku
Ketua Audit Dalaman yang akan Ganesan Sundaraj 5/5 pertama, kedua dan ketiga FY2010
melapor secara terus kepada (Dilantik pada dalam mesyuaratnya masing-masing
Jawatankuasa dan mempunyai 5 Februari 2010) pada 27 Mei 2010, 25 Ogos 2010
hak berhubung secara langsung dan 24 November 2010, sebelum
kepada Pengerusi Jawatankuasa Raja Anuar Raja 4/4 mengesyorkan penyata-penyata itu
pada bila-bila masa; untuk Abu Hassan diluluskan oleh Lembaga;
mengkaji kecukupan skop, (Dilantik pada 18 Mac 2010)
fungsi, kecekapan dan sumber b) Jawatankuasa Audit berbincang
bagi fungsi audit dalaman dan mengenai laporan Juruaudit Luar atas
Idris Zaidel 3/4
bahawa ia mempunyai autoriti pemerhatian yang dibuat berhubung
(Dilantik pada 23 April 2010)
yang perlu untuk menjalankan perjalanan audit dalam mesyuaratnya
kerja-kerjanya; untuk menerima pada 25 Februari 2010;
Surya Hidayat 1/1
dan mengkaji laporan daripada Abd Malik
c) Jawatankuasa Audit meluluskan
Ketua audit Dalaman; dan ada (Dilantik pada 5 Februari 2010
Rancangan Audit Dalaman 2010
kalanya untuk menugaskan dan berhenti menjadi Ahli
dan Rangka Kerja Pengurusan Risiko
pelantikan audit untuk pada 23 April 2010)
Kumpulan dalam mesyuaratnya
dikendalikan bagi pihak
pada 25 Februari 2010. Ketua Audit
Jawatankuasa; dan Ahmad Haji 1/1 Dalaman membentangkan pada
Mohd Sharkan setiap mesyuarat Jawatankuasa
• Untuk melaksanakan mana-mana (Meletakkan jawatan
Audit Laporan Audit Dalaman
tugas lain sebagaimana pada 28 Februari 2010)
Kumpulan mengenai status dan
diperlukan oleh Bursa Malaysia
kemajuan tugasan audit dalaman
Securities Berhad atau mana-
termasuk ringkasan laporan audit
mana badan kawal selia lain. RINGKASAN KEGIATAN yang dikeluarkan, pengesyoran
JAWATANKUASA AUDIT audit dan respons pengurusan
Skop Jawatankuasa Audit merangkumi
kepada syor tersebut.
semua operasi Syarikat dan Kumpulan. Kegiatan Jawatankuasa Audit dalam
tahun kewangan berakhir 31 Disember d) Pada 27 April 2010, Jawatankuasa
2010 (“FY 2010”) terdiri daripada Audit mengkaji Penyata Kawalan
MESYUARAT JAWATANKUASA yang berikut: Dalaman dan mengesyorkan
AUDIT DIADAKAN DALAM
kemasukannya dalam Laporan
TAHUN KEWANGAN 2010 a) Dalam menyelia pelaporan Tahunan 2009;
kewangan, Jawatankuasa Audit
Jawatankuasa Audit mengadakan lima mengkaji penyata kewangan suku
mesyuarat dalam tahun kewangan di tahunan bagi suku keempat dan
laporan tahunan
2010
annual report 49
e) Jawatankuasa Audit mengkaji urus keadaan kawalan dalaman Kumpulan, audit dengan cara yang tidak
niaga berulang pihak berkaitan fungsi Audit Dalaman menjalankan menjejaskan kebebasan atau objektiviti
yang disertai oleh Kumpulan dalam kajiannya berdasarkan Rancangan Juruaudit Luar.
mesyuaratnya pada 27 Mei 2010; Audit Dalaman 2010 yang dibentuk
dan dengan menggunakan pendekatan Berdasarkan kajian Juruaudit Luar,
berasaskan risiko. Tumpuan utama selaras dengan Piawaian Pengauditan
f) Pada 24 November 2010, tugasan audit adalah pada tiga buah Diluluskan di Malaysia, penyata
Jawatankuasa Audit mengkaji syarikat paling aktif dalam Kumpulan. kewangan bagi FY2010 telah
Memorandum Perancangan Audit Kegiatan-kegiatan utama fungsi Audit disediakan untuk memberi gambaran
Juruaudit Luar yang terdiri daripada Dalaman pada 2010 tertumpu pada sebenar dan saksama mengenai
skop audit mereka dan yuran yang yang berikut: kedudukan kewangan Kumpulan selaras
dicadangkan untuk audit berkanun dengan Akta Syarikat 1965 dan
bagi FY2010. • Audit urus niaga berulang pihak piawaian perakaunan yang diluluskan.
berkaitan; Prestasi fungsi audit luar telah dikaji dan
Dalam tahun kewangan berkenaan, dinilai berdasarkan kriteria prestasi
Jawatankuasa Audit telah bermesyuarat • Audit pembaikan dan yang dipersetujui sebagaimana
dengan Juruaudit luar dua kali tanpa penyenggaraan kapal; dinyatakan dalam Memorandum
kehadiran Pengurusan dan para Perancangan Audit Juruaudit Luar, garis
Pengarah Eksekutif untuk • Audit limbungan kering kapal; masa dan kecukupan sumber untuk
membincangkan perkara-perkara mencapai skop yang dipersetujui bagi
penting dan mendapatkan maklum • Audit pemiutang perdagangan; audit luar. Jawatankuasa Audit telah
balas berhubung dengan hal ehwal mengesyorkan pelantikan semula
Syarikat. Tiada apa-apa yang sampai • Audit keselamatan rangkaian IT; Juruaudit Luar bagi FY2011.
ke pengetahuan Jawatankuasa Audit
yang menyebabkannya meragui • Bengkel penilaian risiko.
pelaporan kewangan adalah konsisten PERNYATAAN BERHUBUNG
dengan standard perakaunan dan lain- Kesemua kegiatan Audit Dalaman bagi PENGAGIHAN OPSYEN SELARAS
lain keperluan undang-undang. FY2010 telah dijalankan oleh pasukan DENGAN SKIM OPSYEN SAHAM
audit dalaman Syarikat. Tidak ada KAKITANGAN (“ESOS”)
FUNGSI AUDIT DALAMAN bidang fungsi Audit Dalaman yang telah
menggunakan khidmat luar kecuali Memandangkan tidak ada peruntukan
Lembaga memperoleh jaminan yang audit keselamatan rangkaian IT. Dalam opsyen dalam tahun kewangan 2010,
secukupnya mengenai keberkesanan tahun kewangan 2010, jumlah maka tidak ada pengesahan oleh
sistem kawalan dalaman dalam sebanyak RM286,352 telah ditanggung Jawatankuasa Audit.
Kumpulan, melalui kajian dan penilaian berhubung dengan kedua-dua fungsi
tetap yang dijalankan oleh Jabatan Audit audit dalaman dan audit yang
Dalaman Kumpulan, yang melaporkan menggunakan khidmat luar.
secara langsung kepada Jawatankuasa
Audit. Jawatankuasa Audit menentukan
kecukupan skop, fungsi dan sumber FUNGSI AUDIT LUAR
fungsi Audit Dalaman.
Di samping melaksanakan audit
Dalam usahanya untuk menyediakan berkanun dirancang, Juruaudit Luar
jaminan yang munasabah mengenai juga menyediakan perkhidmatan bukan
Statement of Internal Control

RESPONSIBILITY operation of suitable internal controls Statement on Internal Control - Guidance
in managing these risks. for Directors of Public-Listed Companies.
The Board acknowledges its
responsibility for maintaining sound • The Audit Committee, through the The processes in place for the financial
internal control and risk management Internal Audit Department of Petra year under review involves conducting
systems that would provide reasonable Perdana Berhad, examines the risk management workshops and
assurance in ensuring the effectiveness effectiveness of the Group’s system of subsequent development of Risk
and efficiency of operations, reliability of internal control. The Internal Audit Management Schedule to capture and
financial reporting and compliance with Department adopts a risk-based prioritise key risk profiles, delegate
applicable laws and regulations, to approach in identifying areas of ownership of risks, attach timelines to
safeguard shareholders’ interest and the priority for assurance engagements. management control and action plans,
Group’s asset. and, provide continuous monitoring and
• The financial performance of the reporting of risks.
The system of internal control is designed Company for every quarter is subject
to manage the Group’s risk within to review by the Audit Committee and The Board, working together with the
acceptable risk profile, rather than the annual financial statements by both management, continues to take measures
eliminate the risk of failure to achieve the internal auditors and the external to further strengthen the Group’s risk
Group’s policies and business objectives, auditors. The Audit Committee then management system as one of the means
and can only provide reasonable but not reports and makes recommendations to achieve the Group’s business objectives.
absolute assurance against material to the Board of Directors.
misstatement or losses.
The Board and the management are REVIEW OF STATEMENT BY
committed to continuously enhance the EXTERNAL AUDITORS
FRAMEWORK OF THE SYSTEM Group's system of internal control to ensure
ON INTERNAL CONTROLS its relevance, adequacy and integrity. The external auditors have reviewed this
Statement of Internal Control for
The key elements of the Group's system The Group’s system of internal control inclusion in the Annual Report of the
of internal controls are as follows: does not apply to an associated Group for the financial year ended
company where the Group does not 31 December 2010. The external
• Clear organisational structures with have full management control over them. auditors reported to the Board that
defined lines of responsibility and nothing has come to their attention that
delegation of authority. causes them to believe that the Statement
RISK MANAGEMENT is inconsistent with their understanding of
• Centralised control of key functions the process adopted by the Board in
such as corporate affairs, finance, There is ongoing risk management reviewing the adequacy and integrity of
tax, legal, human resources and risk process to identify, assess, control, the system of internal controls.
management. monitor and report significant risks that
may affect the achievement of the This statement was approved by the
• Participation of management in the Group’s business objectives. Board of Directors on 28 April 2011.
identification and evaluation of
significant risks relevant to their The said process is regularly reviewed by
business areas, and the design and the Board and accords with the
laporan tahunan
2010
annual report 51
Kenyataan Kawalan Dalaman

TANGGUNGJAWAB risiko-risiko penting berkaitan Kawalan Dalaman - Panduan bagi
dengan bidang-bidang perniagaan Pengarah Syarikat Awam Tersenarai.
Lembaga menyedari tanggungjawabnya mereka, serta reka bentuk dan
untuk mengekalkan sistem pengurusan operasi kawalan dalaman yang Proses ini melibatkan pelaksanaan
kawalan dalaman dan pengurusan risiko sesuai dalam menguruskan risiko- bengkel-bengkel pengurusan risiko dan
yang kukuh yang akan memberikan risiko ini. pembangunan selanjutnya Jadual
jaminan munasabah dalam memastikan Pengurusan Risiko untuk mencakupi dan
keberkesanan dan kecekapan operasi, • Jawatankuasa Audit, melalui Jabatan mengutamakan profil-profil risiko
kebolehpercayaan pelaporan kewangan Audit Dalaman Petra Perdana penting, membahagikan tanggung-
dan pematuhan undang-undang dan Berhad, memeriksa keberkesanan jawab ke atas risiko, mengenakan garis
peraturan terpakai, untuk melindungi sistem kawalan dalaman Kumpulan. masa kepada kawalan pengurusan dan
kepentingan pemegang-pemegang Jabatan Audit Dalaman menerima rancangan tindakan, dan menyediakan
saham dan aset Kumpulan. pakai pendekatan berasaskan risiko pemantauan dan pelaporan risiko
dalam mengenal pasti bidang-bidang berterusan.
Sistem kawalan dalaman dirangka untuk keutamaan bagi perlantikan jaminan.
menguruskan risiko Kumpulan dalam Lembaga, dengan kerjasama
profil risiko yang boleh diterima, dan • Prestasi kewangan Syarikat bagi pengurusan, sentiasa mengambil
bukannya menghapuskan risiko setiap suku tahunan adalah tertakluk langkah-langkah untuk mengukuhkan
kegagalan untuk mencapai dasar dan kepada semakan oleh Jawatankuasa sistem pengurusan risiko Kumpulan
objektif perniagaan Kumpulan, dan hanya Audit dan penyata kewangan tahunan sebagai satu cara untuk mencapai
boleh memberikan jaminan munasabah oleh kedua-dua juruaudit dalaman objektif perniagaan Kumpulan.
tetapi tidak sepenuhnya terhadap salah dan juruaudit luar. Jawatankuasa
nyataan material atau kerugian. Audit kemudiannya melaporkan dan
membentangkan cadangan kepada KAJIAN PENYATA OLEH
Lembaga Pengarah. JURUAUDIT LUAR
RANGKA KERJA SISTEM KE ATAS
KAWALAN DALAMAN Lembaga dan pengurusan komited untuk Juruaudit luar telah mengkaji Penyata
mempertingkatkan sistem kawalan Kawalan Dalaman ini bagi dimasukkan
Elemen-elemen utama sistem dalaman Kumpulan secara berterusan ke dalam Laporan Tahunan Kumpulan
kawalan dalaman Kumpulan adalah untuk memastikan ia kekal relevan, bagi tahun kewangan berakhir
seperti berikut: mencukupi dan berintegriti. 31 Disember 2010. Juruaudit luar telah
melaporkan kepada Lembaga bahawa
• Struktur organisasi yang jelas sepengetahuan mereka tiada apa-apa
dengan bidang-bidang PENGURUSAN RISIKO yang menyebabkan mereka curiga
tanggungjawab dan pemberian bahawa Penyata ini tidak konsisten
kuasa yang jelas. Terdapat proses pengurusan risiko dengan kefahaman mereka mengenai
berterusan untuk mengenal pasti, proses yang diterima pakai oleh
• Memusatkan kawalan fungsi utama menilai, mengawal, memantau dan Lembaga dalam mengkaji kecukupan
seperti hal-ehwal korporat, kewangan, melaporkan risiko-risiko penting yang dan integriti sistem kawalan dalaman.
cukai, undang-undang, sumber boleh mempengaruhi pencapaian
manusia dan pengurusan risiko. objektif perniagaan Kumpulan. Penyata ini telah diluluskan oleh
Lembaga Pengarah pada 28 April 2011.
• Penglibatan pengurusan dalam Proses ini sentiasa disemak semula oleh
pengenalpastian dan penilaian Lembaga dan selaras dengan Penyata
Board of Directors’ Statement

STATEMENT ON CORPORATE effectively to the scope and complexity of The Board has identified Ganesan
GOVERNANCE the Group’s operations as a leading and Sundaraj as the Senior Independent
preferred offshore marine operator for the Director to whom concerns of
The Board of Directors firmly believes upstream oil and gas industry in the shareholders and other stakeholders
that good corporate governance is the region. The Malaysian Code on may be conveyed.
key to the improved long-term Corporate Governance states that “there
performance of the Group and that a should be a clearly accepted division of Board Meetings and Supply of
sound governance structure is responsibilities at the head of the Information
fundamental to safeguard the interests of company which will ensure a balance of
all its stakeholders. power and authority, such that no one The Board meets regularly, at least once
individual has unfettered powers of every quarter to review the business
decision”. The Company has appointed performance of the Group.
THE BOARD OF DIRECTORS En. Shamsul Saad as the Managing
Director and his responsibilities as the Members of the Board deliberate and in
Size and Composition chief executive officer (CEO) is to oversee the process evaluate the potential risks
the operations and affairs of the Board, and viability of business propositions
The Board comprises eight (8) Members providing leadership, strategic vision and and corporate proposals that have
of whom four (4) are Executive Directors meeting immediate performance targets significant impact on the Group’s
and four (4) are Non-Executive Directors. without neglecting longer-term growth business or on its financial position.
opportunities of the Group. The Board
Three (3) of the Non-Executive Directors views that a chairman who is an The Chairman of the Audit Committee
are independent and meet the independent non-executive director will will inform the Directors at Board
Independent Director criteria as set out in provide a balance to the influence of the meetings, matters and recommendations
the Bursa Malaysia Securities Berhad CEO and have agreed not to combine the which the Audit Committee view ought to
(“Bursa Securities”) Listing Requirements. roles. The Board will ensure that the be highlighted to the Board.
candidate selected as the Independent
The Independent Non-Executive Directors Chairman has the experience, Board meetings are governed by a
are independent of Management and temperament and commitment to be structured formal agenda and the agenda
free from any business or other effective in his role. for each Board meeting and papers
relationship with the Company which relating to the agenda items are
could materially affect the exercise of The Board’s main duties include regular forwarded to all Directors for their perusal
their independent judgment. The oversight of the Group’s business in advance of the date of the Board
Company had identified and appointed operations and financial performance and meeting. Board meeting papers circulated
two (2) of the Independent Non- ensuring that the infrastructure, internal to Directors include details of business
Executive Directors from the Minority controls, and risk management processes propositions and corporate proposals
Shareholders’ Watchdog Group’s are firmly in place to assess and manage including where relevant, supporting
Independent Directors Pool. The business risks, inter-alia, operational, documents such as professional advice
Independent Non-Executive Directors credit, market and liquidity risks. from solicitors or advisers. The Directors
facilitate the Board to exercise objective are thus able to peruse the Board papers
judgment independently in particular The Directors discharge their duties as and appraise the issues to be deliberated
from the Management. effective Board members with personal at the Board meeting well before the date
dedication of time and ability to bring of the meeting.
For the time being, the current new and different perspectives
composition is well balanced and caters to the Board.
laporan tahunan
2010
annual report 53
The Board has direct access to Senior Director to chair the proceedings. This is Directors’ Training and Education
Management and has complete and to ensure there is a balance to the
unimpeded access to information influence of the Executive Directors with The Group acknowledges that continuous
relating to the Company in the discharge no one individual having unfettered education is vital for the Board members
of their duties. The Directors may require powers of decision. to gain insight into the state of economy,
to be provided with further details or technological advances and regulatory
clarifications on matters tabled at Board The commitment of the Board of updates. The Directors are encouraged
meetings. Senior Management Officers Directors in ensuring effective discharge to attend continuous education
are invited to attend the Board meetings of their duties and responsibilities is programmes to further enhance their
to update the Board on their respective reflected by the high number of Board skills and knowledge, where relevant. All
portfolios and to brief the Directors on meetings held during the financial year Directors including the newly appointed
proposals submitted for the Board’s ended 31 December 2010. Directors have completed the Mandatory
consideration. Professional advisers, Accreditation Programme pursuant to the
accountants and solicitors appointed by During the financial year ended Listing Requirements of Bursa Securities
the Company to advise on corporate 31 December 2010, the Board met and have been briefed by the
proposals to be undertaken by the 12 times and the attendance record of the Management on the operations and
Company would be invited to attend present Board members are as follows: policies of the Company to familiarize
Board meetings to render their advice themselves with the Company’s business.
and opinion, and also to clarify any Names
issues raised by the Directors relating to of Directors Attendance
the corporate proposals tabled for the
Board’s consideration. The Directors Shamsul Saad 11/12
have the liberty to seek external
professional advice at the Company’s Dato’ Kho Poh Eng 11/11
expense, if they so require. (Appointed on 4/2/2010)
The Directors are also regularly updated Koh Pho Wat 11/11
and advised by the Company Secretary (Appointed on 4/2/2010)
on new statutory and regulatory
requirements relating to the discharge of Ganesan Sundaraj 11/11
their duties and responsibilities, including (Appointed on 4/2/2010)
amendments to the Listing Requirements
by Bursa Securities. Every Member of the Surya Hidayat 10/11
Board has ready and unrestricted access Abd Malik
to the advice and services of the (Appointed on 4/2/2010)
Company Secretary. The Company
Secretary attends all Board meetings and Raja Anuar Raja 9/9
ensures that accurate and proper records Abu Hassan
of the proceedings of Board meetings (Appointed on 18/3/2010)
and resolutions passed are kept.
Idris Zaidel 8/9
Even though the Company has not (Appointed on 23/4/2010)
appointed a Chairman of the Board, the
Directors at each Board Meeting will Hamdan Rasid 2/4
appoint an Independent Non-Executive (Appointed on 20/7/2010)
Board of Directors’ Statement (cont’d)
During the financial year ended 31 December 2010, the following Directors attended the trainings as set out below:
Director Mode of Title of Training Duration of

Training Training
Shamsul Saad Seminar Promoting the Corporate Governance Agenda – Raising the Bar 1 day
Raja Anuar Raja Seminar Malaysian Financial Reporting Standards - Recent Developments and Updates 2 days
Abu Hassan
Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Seminar Managing Assets Under IFRS/FRS 2 days
Idris Zaidel Seminar Malaysian Financial Reporting Standards – Recent Developments and Updates 2 days
Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Dato’ Kho Poh Eng Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Koh Pho Wat Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Surya Hidayat Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Abd Malik
Talk Evening talk on Corporate Governance 2 hours
Hamdan Rasid Training Mandatory Accreditation Programme for Directors of Public Listed Companies 1½ days
Workshop FRS 139 Workshop - Financial Instrument 1 day
Training Goods and Services Tax (GST) for Malaysia: The Right Approach to Taxation 1 day
Seminar MBA in Asset Allocation by Terappin Financial 2 days
Conference Amundi and Investment Conference 2010 – 1 day

“Navigating through Market Turbulence- Investment Forum
Training Making A Difference 2 days
Ganesan Sundaraj Seminar Adoption of FRS 139- Financial Instruments Recognition & Measurement 1 day
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annual report 55
Appointment of Board Members ii. professionalism; The Nomination Committee upon its
and Terms of Reference of iii. integrity; and recent annual review carried out, is
Nomination Committee iv. in the case of candidates for the satisfied that the size of the Board is
position of independent sufficient for the Board to effectively
The proposed appointment of a new non-executive Directors, the discharge its roles and responsibilities
member of the Board other than those nominating committee should for the benefit of the Company and its
nominated by shareholders for also evaluate the candidates’ business and that there is appropriate
appointment at the Annual General ability to discharge such mix of skills and core competencies in
Meeting and the proposed re-election of responsibilities/functions as the composition of the Board.
existing Directors who are seeking expected from independent The Nomination Committee is satisfied
re-appointment or re-election at the non-executive Directors. that all the Members of the Board are
annual general meeting of the Company suitably qualified to hold their positions
will be reviewed and assessed by the c) To assess Directors on an on-going as Directors of the Company in view of
Nomination Committee. The Nomination basis, the effectiveness of the Board their respective academic and
Committee will, upon its review and as a whole, the Committees of the professional qualifications, experience
assessment, submit its recommendation on Board and the contribution of each and qualities.
the proposed appointment or re-election individual Director.
of Directors to the Board for approval. The Nomination Committee has also
d) To recommend to the Board,
upon its recent annual review carried
Directors to fill the seats on Board
The Nomination Committee comprises out, concluded that all the Directors have
Committees.
entirely of Independent Non-Executive received training during the financial
Directors. year ended 31 December 2010 that is
e) To review annually the Board’s mix of
relevant and would serve to enhance
skills and experience and other
The responsibilities of the Nomination their effectiveness in the Board.
qualities including core competencies
Committee are as follows:
which non-executive Directors should
bring to the Board. Meetings of the Nomination Committee
a) To review regularly the Board are held as and when required.
structure, size and composition and f) To recommend to the Board for
make recommendations to the Board continuation (or not) in service of Directors’ Remuneration and
with regard to any adjustments that executive Director(s) and Directors who Term of Reference of
are deemed necessary. are due for retirement by rotation. Remuneration Committee
b) To recommend for appointment to the g) To orientate and educate new The Remuneration Committee carries out
Board of Directors, candidates for all Directors as to the nature of the the review of the overall remuneration
directorships to be filled by the business, current issues within the policy for Executive Directors whereupon
shareholders or the Board, taking Company and the corporate recommendations are submitted to the
into consideration the candidates’: strategy, the expectations of the Board for approval. The Remuneration
Company concerning input from the
i. skills, knowledge, expertise Directors and the general
and experience; responsibilities of Directors.
Committee and the Board ensure that the package for each Executive Director, The Articles further provide that all
Company’s remuneration policy remains drawing from outside advice as Directors shall retire from office once at
supportive of the Company’s corporate necessary. least in each three (3) years but shall be
objectives and is aligned with the interest eligible for re-election.
of shareholders, and further that the b) To recommend to the Board any
remuneration packages of Executive performance related pay schemes for Board Committees
Directors are sufficiently attractive to draw Executive Directors.
in and to retain persons of high caliber. The Board has established Board
c) To review Executive Directors’ scope Committees to assist the Board in the
The Board as a whole determines the of service contracts. running of the Company. The functions
remuneration of Non-Executive Directors, and terms of reference of Board
and each individual Director abstains from d) To consider the appointment of the Committees as well as authority delegated
the Board decision on his own service of such advisers or by the Board to these Committees are
remuneration. The Non-Executive Directors consultants as it deems necessary to clearly defined by the Board.
are paid annual fees and attendance fulfill its functions.
allowance for each Board meeting that The Board Committees are as follows:
they attend. Meetings of the Remuneration Committee
are held as and when necessary. • Audit Committee
The Remuneration Committee comprises • Nomination Committee
mainly of Independent Non-Executive Re-appointment and Re-election • Remuneration Committee
Directors. of Director
The responsibilities of the Remuneration The Articles of Association of the

Committee are as follows: Company provide that at every annual
general meeting, one-third of Directors
a) To recommend to the Board the for the time being and those appointed
framework of Executive Directors’ during the financial year shall retire from
remuneration and the remuneration office and shall be eligible for re-election.
The composition of the Board Committees are reflected as follows:
Audit Nomination Remuneration

Committee Committee Committee
Ganesan Sundaraj Chairman Member Member
Raja Anuar Raja Abu Hassan Member Chairman Member
Idris Zaidel Member Member Chairman
Dato’ Kho Poh Eng – – Member

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annual report 57
Directors’ Remuneration
The Remuneration Committee has been delegated the responsibility to review and recommend to the Board the remuneration packages
and other terms of employment for the Executive Directors.
The details of the remuneration of the Directors of the Company for the financial year ended 31 December 2010 are as follows:
Other Retirement
Group Fees Emoluments Benefits-in-kind Contribution Total
(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)
Executive Directors 199 4,004 259 23 4,485
Non-Executive Directors 172 20 – – 192
The number of Directors whose total remuneration falls within the respective bands is as follows:
Number of Directors
Executive Non-Executive
Below RM50,000 1 6
RM50,001 to RM100,000 – 1
RM100,001 to RM150,000 1 –
RM550,001 to RM600,000 1 –
RM1,000,001 to RM1,050,000 1 –
RM1,050,001 to RM1,100,000 1 –
RM1,650,001 to RM1,700,000 1 –
6 7
ACCOUNTABILITY AND AUDIT reporting processes and the quality of Internal Control
the financial reporting of the Group. The
Financial Reporting Audit Committee reviews and monitors The Board has overall responsibility for
the integrity of the Group’s annual and maintaining a system of internal controls
The Board is committed to providing a
interim financial statements. It also that provides reasonable assurance of
balanced, clear and meaningful
reviews the appropriateness of the effective and efficient operations, and
assessment of the financial performance
Group’s accounting policies and the compliance with laws and regulations,
and prospects of the Group in all the
changes to these policies. The Statement as well as with internal procedures
disclosures made to the stakeholders and
of Responsibility by Directors in respect and guidelines.
the Regulatory Authorities.
of the preparation of the annual audited
The Board is assisted by the Audit financial statements of the Group is set
Committee to oversee the financial out below.
The size and complexity of the Audit Committee also acts as a forum for other non-audit services on a case by
operations of the Group involves the discussion of internal control and risk case basis. In approving such cases, the
acceptance and management of a wide management issues and it contributes to Audit Committee reviews the
variety of risks. The nature of these risks the Board’s review of the effectiveness of independence and objectivity of the
means that events may occur which the internal control and risk management external auditors to ensure that these will
would give rise to unanticipated or systems of the Group. not be compromised.
unavoidable losses. The Group’s system
of internal controls is designed to The minutes of the Audit Committee Effective Communications with
provide reasonable and not absolute meetings are tabled to the Board for noting Shareholders
assurance against the risk of material and for action by the Board where
errors, fraud or losses occurring. The appropriate. A key element of good corporate
Management meets regularly to ensure governance is being transparent and
that the accountability for managing the The activities carried out by the Audit accountable to all stakeholders.
significant risks confronting the Group Committee during the year are set out Underlying the transparency and
are being satisfactorily addressed on an under the Audit Committee Report in this accountability objectives is the provision
ongoing basis. Annual Report. of clear, relevant and comprehensive
information which is timely and readily
The effectiveness of the system of internal Relationship with External accessible to all stakeholders.
controls of the Group is reviewed by the Auditors
Audit Committee during its quarterly Taking cognizance of this, the Group
meetings. The review covers the It is the policy of the Audit Committee to maintains a high level of disclosure to
financial, operational and compliance meet with the external auditors at least and communication with its stakeholders
controls as well as the risk management twice a year to discuss their audit plan, with the provision of clear,
functions. The Internal Audit Division audit findings and the Company’s comprehensive and timely information,
monitors compliance with policies and financial statements. These meetings are particularly to shareholders and
standards and the effectiveness of held without the presence of the investors, for informed investment
internal control structures across Executive Directors and the decision making, through a number of
the Group. Management. The Audit Committee also readily accessible channels.
meets with the external auditors
The Statement on Internal Control, which whenever it deems necessary. The annual report of the Company is a
provides an overview of the state of key channel of communication with
internal controls within the Group, is set The services provided by the external shareholders and investors.
out in this Annual Report. auditors include statutory audits,
recurring annual non-statutory audit and An important forum for communication
Audit Committee non-audit services. Terms of engagement and dialogue with shareholders is the
for these services are reviewed by the general meetings of the Company where
In addition to the duties and responsibilities Audit Committee and approved by the shareholders are given both the
set out under its terms of reference, the Board. The Audit Committee approves all opportunity and the time to raise questions
laporan tahunan
2010
annual report 59
on the agenda items of the general comprehensive and accurate, would be affairs of the Company and the Group at
meetings and where Directors of the of less value to shareholders and the end of the financial year, and of the
Company would provide the answers and investors. As such, the Group places a results and cash flow of the Company
appropriate clarification where required. high priority on ensuring that and the Group for the financial year.
information is made available and
The Company conducts separate media disseminated as early as possible. The Directors are responsible for
and analyst briefings with the release of ensuring that the Company and its
its quarterly and annual results Investor Relations subsidiaries maintain proper accounting
announcements. The media briefings are records which disclose with reasonable
intended not only to facilitate a wider Another important channel of accuracy the financial positions of the
dissemination of the announcement of communication with shareholders, Company and the Group in compliance
the financial results of the Group to as investors and the investment community with the provisions of the Act and approved
wide an audience of investors and generally, both in Malaysia and accounting standards in Malaysia.
shareholders as possible but also to keep internationally, is the Group’s investor
the investing public and shareholders relations activities. The Group has a In addition, the Directors have general
updated on the progress and strong following amongst domestic and responsibilities for taking such steps
development of the business of the international institutional investors, fund that are reasonably available to them
Group as well as any strategic managers and equity analysts, and a to safeguard the assets of the Group
developments within the Group. direct channel to them exists in the and to prevent and detect fraud and
investor relations function of the Group. other irregularities.
To promote wider dissemination of Management personnel responsible for
corporate and financial information that the Group’s investor relations function
is made public, the annual reports of the are of very senior levels, thereby
Company, the quarterly announcements providing views and information on the
of the financial results of the Group, Group that is appropriate and substantive
announcements and disclosures made to investors and research analysts.
pursuant to the disclosure requirements
of the Bursa Securities Listing Statement of Directors’
Requirements and other corporate Responsibility in the Preparation
information are also made available on the of Financial Statements
Company’s website, www.petra.com.my.
The Directors are required by the
Prompt and timely availability of Companies Act 1965 (“the Act”) to
information is also important for prepare financial statements for each
shareholders and investors to make financial year in accordance with
informed investments decisions. approved accounting standards so as to
Information that is out of date, albeit give a true and fair view of the state of
Kenyataan Lembaga Pengarah

KENYATAAN URUS TADBIR Komposisi semasa Lembaga cukup dalaman, dan proses-proses
KORPORAT seimbang dan berkesan dari segi pengurusan risiko disediakan dengan
pengawasan keseluruhan operasi secukupnya untuk menilai dan
Lembaga Pengarah yakin bahawa urus Kumpulan yang kompleks sebagai menguruskan risiko perniagaan
tadbir korporat yang baik adalah kunci pengendali marin luar pesisir terkemuka termasuk, antara lainnya, risiko operasi,
kepada prestasi jangka panjang dan terpilih bagi industri minyak dan kredit, pasaran dan mudah tunai.
Kumpulan dan bahawa struktur urus gas huluan di rantau ini. Kod Urus
tadbir yang mantap adalah asas Tadbir Korporat Malaysia menyatakan Pengarah menjalankan tanggungjawab
perlindungan hak semua pihak yang bahawa “seharusnya terdapat mereka sebagai ahli Lembaga
berkepentingan. pembahagian tanggungjawab yang berkesan dengan sentuhan peribadi
diterima dengan jelas di peringkat dari segi sumbangan masa dan
atasan syarikat yang akan memastikan keupayaan masing-masing untuk
LEMBAGA PENGARAH
keseimbangan kuasa dan autoriti, membawa perspektif baru dan
hinggakan tiada seorang pun individu kelainan kepada Lembaga.
Saiz dan Komposisi
mempunyai kuasa membuat keputusan
Lembaga terdiri daripada lapan (8) Ahli yang tidak terbatas”. Syarikat telah Lembaga telah mengenal pasti Ganesan
dengan empat (4) daripadanya melantik En. Shamsul Saad sebagai Sundaraj sebagai Pengarah Bebas
Pengarah Eksekutif dan empat (4) lagi Pengarah Urusan dan beliau Kanan untuk bertindak sebagai saluran
Pengarah Bukan Eksekutif. bertanggungjawab sebagai ketua bagi pemegang saham dan pihak yang
pegawai eksekutif (CEO) untuk menyelia kepentingan mengadu hal.
Tiga (3) Pengarah Bukan Eksekutif operasi dan hal-ehwal Lembaga,
adalah pihak yang bebas dan menyediakan kepimpinan, wawasan Mesyuarat Lembaga dan
memenuhi kriteria Pengarah Bebas strategik dan memenuhi sasaran prestasi Penyediaan Maklumat
sebagaimana dinyatakan dalam Syarat semasa tanpa mengabaikan peluang-
Penyenaraian Bursa Malaysia Securities peluang pertumbuhan jangka panjang Lembaga bermesyuarat secara tetap,
Berhad (“Bursa Securities”). Kumpulan. Lembaga berpendapat sekurang-sekurangnya sekali dalam
bahawa pengerusi yang juga tempoh tiga bulan untuk mengkaji
Pengarah Bebas Bukan Eksekutif adalah merupakan pengarah bebas bukan prestasi perniagaan Kumpulan.
bebas daripada Pengurusan dan bebas eksekutif akan mengimbangi pengaruh
daripada sebarang urusan atau CEO dan telah memutuskan Ahli-ahli Lembaga menimbang dan
perhubungan lain dengan Syarikat yang menggabungkan peranan tersebut. dalam proses menilai risiko belum
boleh menjejaskan secara material Lembaga akan memastikan agar calon- nyata dan daya maju rancangan
pelaksanaan pertimbangan bebas calon yang dipilih sebagai Pengerusi perniagaan dan cadangan korporat
mereka. Syarikat telah mengenal pasti Bebas mempunyai pengalaman, yang mempunyai kesan ketara
dan melantik dua (2) Pengarah Bebas pembawaan dan komitmen yang terhadap kedudukan perniagaan atau
Bukan Eksekutif daripada kelompok membolehkan beliau menjalankan tugas kewangan Kumpulan.
Pengarah Bebas Badan Pengawas dengan berkesan.
Pemegang Saham Minoriti (MSWG). Pengerusi Jawatankuasa Audit akan
Pengarah Bebas Bukan Eksekutif Tugas utama Lembaga termasuk memaklumkan pengarah dalam
membantu Lembaga untuk membuat menyelia operasi perniagaan dan mesyuarat Lembaga hal-hal dan syor
pertimbangan objektif secara bebas, prestasi kewangan Kumpulan dan yang dirasakan oleh jawatankuasa itu
khususnya daripada pihak Pengurusan. memastikan agar infrastruktur, kawalan perlu diketengahkan kepada Lembaga.
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2010
annual report 61
Mesyuarat Lembaga berjalan mengikut dan menjelaskan kemusykilan Lembaga Dalam tahun kewangan berakhir 31
agenda formal yang teratur dan agenda berkaitan cadangan korporat yang Disember 2010, Lembaga
bagi setiap mesyuarat Lembaga dan dibentangkan untuk pertimbangan bermesyuarat sebanyak 12 kali dan
kertas berkaitan butiran agenda Lembaga. Jika difikirkan perlu, rekod kehadiran ahli-ahli Lembaga
dikemukakan kepada semua Pengarah Pengarah bebas untuk mendapatkan dibentangkan seperti berikut:
untuk penelitian mereka sebelum tarikh khidmat nasihat profesional luar atas
mesyuarat Lembaga. Kertas mesyuarat tajaan Syarikat.
yang diedarkan kepada para Pengarah Nama Pengarah Kehadiran
merangkumi perincian rancangan Para Pengarah juga sentiasa disalurkan
perniagaan dan cadangan korporat oleh Setiausaha Syarikat maklumat Shamsul Saad 11/12
serta dokumen sokongan berkaitan yang kemas kini mengenai keperluan
seperti nasihat profesional daripada berkanun dan peraturan baru, Dato’ Kho Poh Eng 11/11
peguam atau penasihat. Dengan cara termasuk pindaan kepada Syarat (Dilantik pada 4/2/2010)
ini Pengarah boleh meneliti kertas Penyenaraian oleh Bursa Securities,
Lembaga dan menilai isu-isu yang akan supaya mereka dapat melaksanakan Koh Pho Wat 11/11
dibincangkan dalam mesyuarat tugas dan tanggungjawab. Setiap Ahli (Dilantik pada 4/2/2010)
Lembaga sebelum tarikh mesyuarat. Lembaga mempunyai akses tidak
terbatas kepada nasihat dan khidmat Ganesan Sundaraj 11/11
Lembaga boleh berhubung secara Setiausaha Syarikat. Setiausaha (Dilantik pada 4/2/2010)
langsung dengan Pengurusan Kanan Syarikat menghadiri semua mesyuarat
dan mendapatkan sebarang maklumat Lembaga dan memastikan Surya Hidayat 10/11
berkaitan Syarikat dalam menjalankan penyimpanan rekod yang tepat dan Abd Malik
tanggungjawab mereka. Pengarah betul mengenai prosiding mesyuarat (Dilantik pada 4/2/2010)
boleh meminta mereka dibekalkan dan resolusi yang diluluskan.
dengan butir atau penjelasan Raja Anuar Raja 9/9
selanjutnya tentang hal-hal yang Walaupun Syarikat belum melantik Abu Hassan
dibentangkan dalam mesyuarat Pengerusi Lembaga, Lembaga akan (dilantik pada 18/3/2010)
Lembaga. Pegawai Pengurusan Kanan melantik Pengarah Bebas Bukan
dipanggil menghadiri mesyuarat Eksekutif untuk mempengerusikan setiap Idris Zaidel 8/9
Lembaga untuk memaklumkan mesyuaratnya. Ini untuk memastikan (Dilantik pada 23/4/2010)
perkembangan terkini berkaitan wujudnya pengimbang pengaruh
portfolio masing-masing dan untuk Pengarah Eksekutif supaya tiada Hamdan Rasid 2/4
menjelaskan cadangan yang individu yang memiliki kuasa mutlak (Dilantik pada 20/7/2010)
dikemukakan untuk pertimbangan dalam membuat keputusan.
Lembaga. Penasihat profesional,
akauntan dan peguam yang dilantik Komitmen Lembaga Pengarah dalam Pendidikan dan Latihan Para
oleh Syarikat untuk memberi nasihat memastikan keberkesanan pelaksanaan Pengarah
mengenai cadangan-cadangan korporat tugas dan tanggungjawab mereka
yang akan dilaksanakan oleh Syarikat ditunjukkan melalui bilangan mesyuarat Kumpulan menyedari bahawa
akan dijemput menghadiri mesyuarat Lembaga yang dihadiri dalam tahun pendidikan berterusan adalah penting
Lembaga untuk memberi pandangan kewangan berakhir 31 Disember 2010. bagi ahli-ahli Lembaga untuk
Kenyataan Lembaga Pengarah (samb)
meningkatkan wawasan dalam aspek berkenaan. Semua Pengarah termasuk Syarikat untuk membiasakan mereka
keadaan ekonomi, kemajuan teknologi Pengarah yang baru dilantik telah dengan perniagaan Syarikat.
dan peraturan semasa. Para Pengarah selesai mengikuti Program Akreditasi
digalakkan menghadiri program Mandatori selaras dengan Syarat Dalam tahun kewangan berakhir 31
pendidikan secara berterusan untuk Penyenaraian Bursa Securities dan telah Disember 2010, Pengarah-pengarah
meningkatkan kemahiran dan diberi taklimat oleh Pengurusan berikut telah menghadiri latihan
pengetahuan mereka, di mana mengenai operasi dan dasar-dasar sebagaimana dinyatakan di bawah:
Pengarah Kaedah Tajuk Latihan Tempoh

Latihan Latihan
Shamsul Saad Seminar Menggalakkan Agenda Urus Tadbir Korporat – Meninggikan Pencapaian 1 hari
Raja Anuar Raja Seminar Piawaian Pelaporan Kewangan Malaysia – Perkembangan dan Pengemaskinian 2 hari
Abu Hassan
Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Seminar Menguruskan Aset Di Bawah IFRS/FRS 2 hari
Idris Zaidel Seminar Piawaian Pelaporan Kewangan Malaysia – Perkembangan dan Pengemaskinian 2 hari
Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat-syarikat Tersenarai Awam 1½ hari
Dato’ Kho Poh Eng Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Koh Pho Wat Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Surya Hidayat Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Abd Malik
Ceramah Ceramah Urus Tadbir Korporat
Hamdan Rasid Latihan Program Akreditasi Mandatori untuk Para Pengarah Syarikat Awam Tersenarai 1½ hari
Bengkel Bengkel FRS 139 – Instrumen Kewangan 1 hari
Latihan Cukai Barangan dan Perkhidmatan (GST) bagi Malaysia: 1 hari

Pendekatan Percukaian yang Betul
Seminar MBA dalam Peruntukan Aset melalui Terappin Financial 2 hari
Persidangan Persidangan Amundi dan Pelaburan 2010 – Forum Pelaburan- 1 hari

“Mengharungi Pergolakan Pasaran”
Latihan Membawa Kelainan 2 hari
Ganesan Sundaraj Seminar Penggunaan FRS 139 – Pengiktirafan & Pengukuran Instrumen Kewangan 1 hari
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annual report 63
Pelantikan Ahli Lembaga dan i. kemahiran, pengetahuan, perniagaan, isu-isu semasa dalam
Terma Rujukan Jawatankuasa kepakaran dan pengalaman; Syarikat dan strategi korporat,
Pelantikan ii. ketokohan profesional; harapan Syarikat berkaitan
iii. ketulusan; dan sumbangan Pengarah dan
Cadangan pelantikan ahli Lembaga iv. bagi calon jawatan Pengarah tanggungjawab Pengarah
baru selain daripada yang dicalonkan Bebas Bukan Eksekutif, secara amnya.
oleh pemegang saham bagi pelantikan jawatankuasa pelantikan juga
pada Mesyuarat Agung Tahunan (AGM) harus menilai keupayaan calon Selepas menjalankan kajian tahunannya
dan cadangan pemilihan semula untuk menjalankan baru-baru ini, Jawatankuasa Pelantikan
Pengarah sedia ada yang ingin dilantik tanggungjawab/ peranan berpuas hati bahawa saiz Lembaga
semula atau dipilih semula dalam AGM sebagaimana yang diharapkan adalah memadai bagi membolehkan
Syarikat akan dikaji dan dinilai oleh daripada Pengarah Bebas Lembaga menjalankan peranan dan
Jawatankuasa Pelantikan. Susulan itu, Bukan Eksekutif. tanggungjawabnya dengan berkesan
Jawatankuasa Pelantikan mengemukakan bagi manfaat Syarikat dan
syor berhubung cadangan pelantikan c) Menilai secara berterusan prestasi perniagaannya dan bahawa wujud
atau pemilihan semula Pengarah Pengarah, Lembaga secara amnya, gabungan kemahiran dan kecekapan
berkenaan kepada Lembaga untuk Jawatankuasa Lembaga dan teras yang sesuai dalam komposisi
mendapatkan kelulusan. Jawatankuasa sumbangan setiap Pengarah. Lembaga. Jawatankuasa Pelantikan
Pelantikan semuanya terdiri daripada berpuas hati bahawa semua Ahli
Pengarah Bebas Bukan Eksekutif. d) Mencalonkan Pengarah untuk Lembaga benar-benar layak untuk
mengisi kerusi Jawatankuasa memegang jawatan mereka sebagai
Tanggungjawab Jawatankuasa Lembaga. Pengarah Syarikat dengan mengambil
Pelantikan adalah seperti berikut: kira kelayakan akademik dan
e) Menyemak semula setiap tahun
profesional, pengalaman dan kualiti
gabungan kemahiran dan
a) Memberi perhatian secara masing-masing.
pengalaman Lembaga dan ciri lain
berterusan kepada struktur, saiz dan
termasuk kecekapan teras yang
komposisi Lembaga dan membuat Selepas menjalankan kajian tahunannya
harus disumbang oleh Pengarah
cadangan kepada Lembaga baru-baru ini juga, Jawatankuasa
Bukan Eksekutif kepada Lembaga.
berhubung sebarang penyelarasan Pelantikan memutuskan bahawa dalam
yang difikirkan perlu. f) Mengesyorkan kepada Lembaga tahun kewangan berakhir 31 Disember
penyambungan (atau penamatan) 2010 semua Pengarah telah menerima
b) Mencadangkan calon-calon bagi perkhidmatan Pengarah Eksekutif latihan yang berkaitan dan berguna
semua jawatan pengarah kepada dan Pengarah yang tiba masanya kepada Lembaga.
Lembaga Pengarah bagi lantikan untuk bersara mengikut giliran.
oleh pemegang saham atau Mesyuarat Jawatankuasa Pelantikan
Lembaga, dengan mengambil kira g) Mensesuaikan dan mendidik diadakan sekiranya dan apabila
kelayakan calon dari segi: Pengarah baru tentang sifat diperlukan.
Imbuhan Pengarah dan Terma bagi setiap Pengarah Eksekutif, Jawatankuasa Lembaga
Rujukan Jawatankuasa dengan mendapatkan nasihat pihak
Imbuhan luar jika perlu. Lembaga telah menubuhkan
Jawatankuasa-Jawatankuasa Lembaga
Jawatankuasa Imbuhan menjalan kajian b) Mencadangkan kepada Lembaga bagi membantunya dalam
ke atas keseluruhan dasar imbuhan bagi sebarang skim bayaran yang mengendalikan Syarikat. Fungsi, bidang
para Pengarah Eksekutif dan selepas itu dikaitkan dengan prestasi, bagi tugas dan bidang kuasa Jawatankuasa
mengemukakan syor untuk kelulusan para Pengarah Eksekutif. Lembaga ditentukan dengan jelas oleh
Lembaga. Jawatankuasa Imbuhan dan Lembaga.
Lembaga memastikan bahawa dasar c) Mengkaji skop kontrak
imbuhan Syarikat kekal menyokong perkhidmatan Pengarah Eksekutif. Jawatankuasa-Jawatankuasa Lembaga
objektif korporat Syarikat dan selaras adalah seperti berikut:
dengan kepentingan pemegang saham
d) Mempertimbangkan pelantikan
dan bahawa pakej imbuhan Pengarah • Jawatankuasa Audit
penasihat atau perunding tertentu
Eksekutif cukup memuaskan untuk • Jawatankuasa Pelantikan
bagi menyediakan perkhidmatan
menarik dan mengekalkan individu • Jawatankuasa Imbuhan
yang diperlukan dalam
yang berwibawa.
pelaksanaan tugasnya.
Lembaga secara keseluruhannya

Mesyuarat Jawatankuasa Imbuhan
menentukan imbuhan para Pengarah
diadakan sekiranya dan apabila
Bukan Eksekutif, dengan setiap
diperlukan.
Pengarah tidak mencampuri keputusan
Lembaga dalam penetapan imbuhan
masing-masing. Pengarah Bukan Pelantikan Semula dan
Eksekutif dibayar yuran tahunan dan Pemilihan Semula Pengarah
elaun kehadiran bagi setiap mesyuarat
Lembaga yang dihadirinya. Tataurusan Syarikat memperuntukkan
bahawa pada setiap mesyuarat agung
Jawatankuasa Imbuhan besarnya terdiri tahunan, satu pertiga daripada para
daripada Pengarah Bebas Bukan Pengarah sedia ada dan yang dilantik
Eksekutif. dalam tahun kewangan berkenaan akan
bersara daripada jawatannya dan akan
Tanggungjawab Jawatankuasa Imbuhan layak bagi pemilihan semula. Tataurusan
adalah seperti berikut: ini selanjutnya memperuntukkan
bahawa semua Pengarah akan bersara
a) Mencadangkan kepada Lembaga daripada jawatan sekurang-kurangnya
tentang rangka kerja imbuhan dan sekali dalam setiap tiga (3) tahun tetapi
pakej imbuhan Pengarah Eksekutif mereka layak menyertai pemilihan semula.
laporan tahunan
2010
annual report 65
Komposisi Jawatankuasa Lembaga adalah seperti berikut:
Jawatankuasa Jawatankuasa Jawatankuasa

Audit Pelantikan Imbuhan
Ganesan Sundaraj Pengerusi Ahli Ahli
Raja Anuar Raja Abu Hassan Ahli Pengerusi Ahli
Idris Zaidel Ahli Ahli Pengerusi
Dato’ Kho Poh Eng – – Ahli
Imbuhan Pengarah
Jawatankuasa Imbuhan telah diberi tanggungjawab mengkaji dan mencadangkan kepada Lembaga pakej imbuhan dan lain-lain
terma kerja bagi Pengarah Eksekutif.
Butiran imbuhan Pengarah Syarikat bagi tahun kewangan berakhir 31 Disember 2010 adalah seperti berikut:
Emolumen Manfaat Caruman

Kumpulan Yuran Lain Seumpamanya Pesaraan Jumlah
(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)
Pengarah Eksekutif 199 4,004 259 23 4,485
Pengarah Bukan Eksekutif 172 20 – – 192
Bilangan Pengarah mengikut kumpulan jumlah imbuhan masing-masing adalah seperti berikut:
Bilangan Pengarah
Eksekutif Bukan Eksekutif
Di bawah RM50,000 1 6
RM50,001 hingga RM100,000 – 1
RM100,001 hingga RM150,000 1 –
RM550,001 hingga RM600,000 1 –
RM1,000,001 hingga RM1,050,000 1 –
RM1,050,001 hingga RM1,100,000 1 –
RM1,650,001 hingga RM1,700,000 1 –
6 7
AKAUNTABILITI DAN AUDIT pelbagai jenis risiko. Sifat risiko ini Minit mesyuarat Jawatankuasa Audit
menyiratkan kemungkinan berlakunya dibentangkan kepada Lembaga untuk
Pelaporan Kewangan peristiwa yang menyebabkan kerugian catatan dan tindakan oleh Lembaga di
luar jangka atau tidak dapat dielakkan. mana wajar.
Lembaga komited untuk menyediakan Sistem kawalan dalaman Kumpulan
penilaian prestasi kewangan dan dirangka untuk memberi jaminan Kegiatan yang dijalankan oleh
prospek Kumpulan yang seimbang, munasabah, bukan jaminan mutlak, Jawatankuasa Audit pada tahun kajian
bersih dan bermakna dalam semua terhadap timbulnya risiko kesilapan, dibentangkan di bawah Laporan
kenyataan yang dibuat kepada penipuan atau kerugian material. Pihak Jawatankuasa Audit di dalam Laporan
pemegang kepentingan dan Pihak pengurusan kerap mengadakan Tahunannya.
Pengawal Selia. mesyuarat bagi tujuan memastikan
tanggungjawab dalam menguruskan Perhubungan dengan Juruaudit
Lembaga dibantu oleh Jawatankuasa risiko besar yang dihadapi Kumpulan Luar
Audit untuk menyelia proses-proses ditangani dengan cara yang
pelaporan kewangan dan kualiti memuaskan dan secara berterusan. Adalah dasar Jawatankuasa Audit untuk
pelaporan kewangan Kumpulan. bermesyuarat dengan juruaudit luar
Jawatankuasa Audit mengkaji dan Keberkesanan sistem kawalan dalaman sekurang-kurangnya dua kali setahun
memantau ketulusan penyata kewangan Kumpulan dikaji semula oleh untuk membincangkan rancangan audit
tahunan dan interim Kumpulan. Ia juga Jawatankuasa Audit dalam mesyuarat mereka, penemuan audit dan penyata
mengkaji kewajaran dasar perakaunan suku tahunannya. Kajian tersebut kewangan Syarikat. Mesyuarat ini
Kumpulan dan perubahan kepada meliputi kawalan kewangan, operasi diadakan tanpa kehadiran para
dasar-dasar ini. dan pematuhan serta fungsi pengurusan Pengarah Eksekutif dan Pengurusan.
risiko. Bahagian Audit Dalaman Jawatankuasa Audit juga bermesyuarat
Penyata Tanggungjawab daripada para memantau pematuhan dasar-dasar dan dengan juruaudit luar apabila dirasakan
Pengarah berhubung dengan standard dan keberkesanan struktur perlu berbuat demikian.
penyediaan penyata kewangan teraudit kawalan dalaman seluruh Kumpulan.
tahunan Kumpulan dibentangkan Perkhidmatan yang diberikan oleh
seperti berikut. Kenyataan Kawalan Dalaman, yang juruaudit luar termasuk audit berkanun,
menyediakan gambaran menyeluruh perkhidmatan audit bukan berkanun
Kawalan Dalaman keadaan kawalan dalaman Kumpulan, dan bukan audit tahunan berulang.
dibentangkan dalam Laporan Tahunan ini. Terma-terma urusan bagi perkhidmatan
Lembaga bertanggungjawab secara ini dikaji oleh Jawatankuasa Audit dan
keseluruhannya dalam pengekalan Jawatankuasa Audit diluluskan oleh Lembaga. Jawatankuasa
sistem kawalan dalaman yang memberi Audit meluluskan perkhidmatan bukan
jaminan munasabah terhadap Selain tugas dan tanggungjawab yang audit lain mengikut kewajaran kes.
keberkesanan pelaksanaannya, dengan dinyatakan di bawah bidang-bidang Dalam meluluskan kes-kes sedemikian,
mematuhi undang-undang dan tugasnya, Jawatankuasa Audit juga Jawatankuasa Audit mengkaji
peraturan serta prosedur dan garis bertindak sebagai satu forum bagi kebebasan dan keobjektifan juruaudit
panduan dalaman. perbincangan mengenai kawalan luar untuk memastikan ciri itu tidak
dalaman dan isu-isu pengurusan risiko dikompromi.
Saiz Kumpulan dan bentuk operasinya dan ini memanfaatkan kajian Lembaga
yang kompleks bermakna Kumpulan mengenai keberkesanan sistem kawalan
perlu menerima dan menguruskan dalaman dan pengurusan risiko Kumpulan.
laporan tahunan
2010
annual report 67
Komunikasi Berkesan dengan pemegang saham, bahkan memastikan gambaran dan maklumat bernas dan
Pemegang Saham mereka mendapat maklumat yang wajar mengenai Kumpulan kepada
kemaskini berkaitan kemajuan dan pelabur dan penyelidik ekuiti.
Satu elemen penting urus tadbir yang pembangunan perniagaan Kumpulan serta
baik ialah penampilan ketelusan dan perkembangan strategik dalam Kumpulan. Kenyataan Tanggungjawab
akauntabiliti kepada pemegang Pengarah dalam Penyediaan
pelbagai kepentingan. Mendasari Untuk meluaskan penyebaran maklumat Penyata Kewangan
objektif ketelusan dan akauntabiliti ini korporat dan kewangan yang sudah
adalah penyediaan maklumat yang diumumkan, laporan tahunan Syarikat, Menurut Akta Syarikat 1965 (“Akta”),
jelas, relevan dan lengkap tepat pada pengumuman keputusan kewangan suku para Pengarah dikehendaki
masanya dan mudah dicapai mereka tahunan Kumpulan, pengumuman dan menyediakan penyata kewangan bagi
yang berhak dan berkepentingan wajar. pendedahan yang dituntut oleh Syarat setiap tahun kewangan selaras dengan
Memahami hakikat ini, Kumpulan Penyenaraian Bursa Securities semuanya piawaian perakaunan yang diluluskan
mengekalkan tahap pendedahan dan dimuatkan di laman web Syarikat, untuk memberi gambaran sebenar dan
komunikasi yang tinggi terutamanya www.petra.com.my di samping pelbagai saksama tentang hal-ehwal Syarikat dan
dengan pemegang saham dan pelabur maklumat korporat yang lain. Kumpulan pada akhir tahun kewangan,
melalui penyediaan maklumat yang Ketersediaan maklumat yang tepat pada dan mengenai keputusan dan aliran
jelas, lengkap, tepat pada masanya dan masa ia diperlukan amat penting dalam tunai Syarikat dan Kumpulan bagi
mudah diperoleh supaya mereka boleh membuat keputusan pelaburan tahun kewangan.
membuat keputusan pelaburan yang bijak. berhemah. Maklumat yang basi,
walaupun menyeluruh dan tepat, kurang Para Pengarah bertanggungjawab
Laporan tahunan Syarikat adalah satu nilainya kepada pemegang saham dan memastikan agar Syarikat dan anak-
saluran komunikasi penting dengan pelabur. Oleh sebab itu, Kumpulan anak syarikat menyimpan rekod
para pemegang saham dan pelabur. meletakkan penyebaran segera perakaunan dengan baik yang
maklumat di antara keutamaannya. memaparkan kedudukan kewangan
Wadah penting untuk berkomunikasi Syarikat dan Kumpulan dengan tepat
dan berdialog dengan pemegang Perhubungan Pelabur sebagai mematuhi Akta dan piawaian
saham adalah mesyuarat agung perakaunan yang diluluskan di
Syarikat di mana mereka diberi peluang Satu lagi saluran komunikasi penting Malaysia. Selain itu, para Pengarah
dan masa untuk membangkitkan soalan dengan pemegang sahamdan secara amnya bertanggungjawab
mengenai perkara-perkara yang masyarakat pelabur di Malaysia mengambil langkah-langkah tertentu
terkandung di dalam agenda mesyuarat mahupun di luar negara adalah yang munasabah kepada mereka untuk
dengan para Pengarah Syarikat kegiatan perhubungan pelabur yang melindungi aset Kumpulan dan untuk
bersedia memberikan jawapan dan dijalankan oleh Kumpulan. Kumpulan mengesan dan menghalang penipuan
penjelasan sewajarnya. mempunyai pengikut yang kukuh di dan kepincangan lain.
kalangan pelabur institusi domestik dan
Syarikat mengadakan taklimat antarabangsa, pengurus dana dan
berasingan bagi media massa dan penganalisis ekuiti, dan saluran
penganalisis sekuriti serentak dengan langsung dengan mereka wujud dalam
pengumuman keputusan suku tahunan fungsi perhubungan pelabur Kumpulan.
dan tahunannya. Taklimat media bukan Pegawai yang bertanggungjawab bagi
sahaja bertujuan memaksimumkan fungsi perhubungan pelabur Kumpulan
penyebaran keputusan kewangan adalah pengurus peringkat paling
Kumpulan di kalangan pelabur dan kanan, yang berupaya memberi
Additional Information
UTILISATION OF PROCEEDS RAISED FROM CORPORATE PROPOSAL
a) On 2 July 2010, the Company announced the completion of the placement of 29,760,000 new ordinary shares of RM0.50 each
(“PPB Shares”) following the listing of and quotation for the said new PPB Shares on Main Market of Bursa Securities which were
issued and allotted on 30 June 2010 at an issue price of RM1.32 per PPB Share.
The utilisation of proceeds of RM39.28 million from Private Placement as at 29 April 2011 is as follows:
Total Intended
Proposed Proposed Actual Timeframe
Utilisation Adjustment Utilisation Utilisation for
Purpose RM’000 RM’000 RM’000 RM’000 Utilisation
Payment of charter deposits 19,203 – 19,203 * Refer note
Working capital of Petra 19,780 38 19,818 19,818 12 months

Perdana Group
Expenses relating to the Placement 300 (38) 262 262 6 months
Total 39,283 – 39,283 20,080
* The utilisation of RM19.2 million is expected to defer as the Company is finalising the financing of the vessel.
b) On 1 November 2010, the Company announced the completion of the renounceable rights issue of 122,760,000 new PPB Shares
(“Rights Issue”) following the listing of and quotation for the said new PPB Shares on Main Market of Bursa Securities which were
issued and allotted on 27 October 2010 at an issue price of RM0.59 per PPB Share.
The proceeds of RM72.43 million from Rights Issue have been fully utilised.
laporan tahunan
2010
annual report 69
Share Buy-Back Sanctions and/or Penalties Material Contracts
The Company did not undertake any There were no sanctions and/or There were no material contracts entered
share buy-back exercise during the penalties imposed on the Company into by the Company or its subsidiaries
financial year under review. and/or its subsidiaries, directors or involving the directors’ and/or major
management by any regulatory bodies. shareholders’ interest for the financial
Options, Warrants or year ended 31 December 2010.
Convertible Securities Non-Audit Fees
Revaluation Policy
During the financial year ended The amount of non-audit fees incurred
31 December 2010, the Company for services rendered to the Company The Company did not adopt any
issued 61,379,785 warrants on the and its subsidiaries for the financial year revaluation policy on its landed
basis of 1 warrant for every 2 new PPB ended 31 December 2010 by the properties nor revalued its landed
shares subscribed in the Rights Issue. Company’s auditors, or a firm or properties during the financial year
None of the warrants were exercised company affiliated to the auditors’ firm is under review.
during the financial year. RM161,000.
Variation in Results
American Depository Receipt Profit Guarantee
(ADR) or Global Depository There was no material variances
Receipt (GDR) The Company did not receive any profit between the audited results for the
guarantee during the financial year financial year ended 31 December 2010
The Company did not sponsor any ADR ended 31 December 2010. and the unaudited results
or GDR programme. previously announced.
Maklumat Tambahan
PENGGUNAAN DANA DARIPADA CADANGAN KORPORAT
a) Pada 2 Julai 2010, Syarikat mengumumkan penyempurnaan penempatan 29,760,000 saham biasa baru bernilai RM0.50
sesaham (“saham PPB”) berikutan penyenaraian dan sebut harga di Pasaran Utama Bursa Securities saham-saham baru PPB
yang diterbitkan dan diperuntukkan pada 30 Jun 2010 pada harga terbitan RM1.32 bagi setiap saham.
Penggunaan perolehan sebanyak RM39.28 juta daripada Penempatan Swasta pada 29 April 2011 adalah seperti berikut:
Jangka Masa
Jumlah Penggunaan
Cadangan Cadangan Penggunaan yang
Tujuan Penggunaan Pelarasan Penggunaan Sebenar Dihasratkan
RM’000 RM’000 RM’000 RM’000 RM’000
Bayaran deposit catar 19,203 – 19,203 * Rujuk Nota
Modal Kerja Kumpulan Petra Perdana 19,780 38 19,818 19,818 12 bulan
Perbelanjaan berkaitan dengan 300 (38) 262 262 6 bulan

Penempatan
Jumlah 39,283 – 39,283 20,080
* Penggunaan sebanyak RM19.2 juta dijangka akan ditunda kerana Syarikat sedang menyelesaikan urusan pembiayaan kapal.
b) Pada 1 November 2010, Syarikat mengumumkan penyempurnaan terbitan hak boleh tolak sebanyak 122,760,000 Saham PBB
baru (“Terbitan Hak”) berikutan penyenaraian dan sebut harga di Pasaran Utama Bursa Securities Saham PPB baru yang
diterbitkan dan diperuntukkan pada 27 Oktober 2010 pada harga terbitan RM0.59 setiap saham.
Perolehan sebanyak RM72.43 juta daripada Terbitan Hak telah digunakan sepenuhnya.
laporan tahunan
2010
annual report 71
Belian Balik Saham Sekatan dan/atau Denda yang Kontrak Penting

dikenakan
Syarikat tidak melaksanakan sebarang Tiada sebarang kontrak penting telah
Pembelian Balik Saham pada tahun Tiada sebarang sekatan dan/atau dimeterai oleh Syarikat mahupun mana-
kewangan yang ditinjau. denda yang dikenakan oleh badan mana anak syarikatnya yang melibatkan
pengawal selia ke atas Syarikat kepentingan Pengarah dan/atau
Opsyen, Waran atau Sekuriti dan/atau anak-anak syarikat, pengarah pemegang saham utama bagi tahun
Boleh Tukar atau pengurusannya. kewangan berakhir 31 Disember 2010.
Dalam tahun kewangan berakhir Yuran Bukan Audit Dasar Penilaian Semula
31 Disember 2010, Syarikat telah
menerbitkan 61,379,785 waran pada Yuran bukan audit yang ditanggung Syarikat tidak menerima pakai sebarang
nisbah 1 waran bagi setiap 2 saham bagi perkhidmatan yang disediakan dasar penilaian semula harta tanahnya
baru PPB yang dilanggan susulan oleh juruaudit Syarikat atau firma yang atau menilai semula harta tanahnya
Terbitan Hak. Tidak ada waran yang sepakat dengan juruaudit itu kepada dalam tahun kewangan yang ditinjau.
dilaksanakan dalam tahun kewangan itu. Syarikat dan anak-anak syarikat bagi
tahun kewangan berakhir 31 Disember Perbezaan Keputusan
Resit Depositori Amerika (ADR) 2010 berjumlah RM161,000.
atau Resit Depositori Global Tiada perbezaan penting antara
(GDR) Jaminan Keuntungan keputusan beraudit bagi tahun
kewangan berakhir 31 Disember 2010
Syarikat tidak menaja sebarang Syarikat tidak menerima sebarang dan keputusan belum diaudit yang
program ADR atau GDR. jaminan keuntungan pada tahun diumumkan terdahulu.
kewangan berakhir 31 Disember 2010.
Corporate Responsibility
Tanggungjawab Korporat
The Group believes that responsible

corporate practices and the agenda of
sustainability are essential to our long-
term business growth. As such, we
remain committed to undertaking
exemplary corporate conduct that
creates sustainable value for all our
stakeholders. Our Framework for
Sustainability (covering the dimensions
of the Workplace, Environment,
Community and Marketplace) spells out
some of the impactful corporate
responsibility (“CR”) initiatives that we
are undertaking.
the OSV business and a respected brand domestic and international in certain
name in our regional market, we have activities at various levels to spur the
the added responsibility of ensuring we development of technology transfer,
maintain stringent compliance with value creation and commercial growth
international HSSE standards. This will for the overall oil & gas services industry.
not only help strengthen the Petra The effectiveness of MOGSC is such that
Perdana brand but also Malaysia’s it is the sole representative of the oil &
international standing in the oil and gas gas services industry acknowledged by
industry. All these will remain priority PEMANDU, the Government’s driver of
areas for us as we work towards turning our nation’s Economic Transformative
around and moving up to the next level Programme.
of growth.
In FY2010, our CR efforts were primarily
directed towards Workplace and As part of our contributions to a
Environment initiatives. We worked to sustainable business environment, Petra
strengthen the skill set and expertise of Perdana is also a very active participant
our workforce so that they in turn could in the Malaysian Oil & Gas Services
help us deliver on our CR commitment to Council (“MOGSC”). MOGSC is the
our stakeholders. We continued to largest grouping of services companies
prioritise good Health, Safety, Security & in the oil & gas sector in the country. It is
Environmental (“HSSE”) practices given a well-recognized, effective grouping
the high-risk and hazardous work which even involves participation of
environment in which we operate. Being stakeholders such as PETRONAS,
the Malaysian leader in our segment of MATRADE and various other agencies
laporan tahunan
2010
annual report 73
memulihkan perniagaan Kumpulan

sebelum mencatat pertumbuhan
seterusnya.
Sebagai sebahagian daripada

sumbangan kami kepada persekitaran
perniagaan yang mapan, Petra Perdana
sangat aktif dalam Malaysian Oil & Gas
Services Council (“MOGSC”), persatuan
terbesar syarikat perkhidmatan sektor
minyak & gas di negara ini. MOGSC
mendapat pengiktirafan tertinggi dan
merupakan kelompok pengusaha
industri paling berkesan, yang turut
melibatkan penyertaan pelbagai pihak
Kumpulan percaya bahawa amalan membantu menyampaikan komitmen CR berkepentingan seperti PETRONAS,
korporat bertanggungjawab dan kami kepada pelbagai pihak MATRADE dan beberapa agensi
agenda kemapanan adalah penting berkepentingan. Kami sentiasa domestik dan antarabangsa yang
kepada pertumbuhan perniagaan mengutamakan amalan Kesihatan, mewakili kegiatan tertentu pada
jangka panjang. Oleh yang demikian, Keselamatan, Jaminan & Alam Sekitar pelbagai peringkat untuk merangsang
kami kekal komited untuk melaksanakan (“HSSE”) dengan mengambil kira pembangunan teknologi, pemindahan
tatacara korporat contoh yang persekitaran kerja yang berisiko tinggi teknologi, penghasilan nilai dan
mewujudkan nilai mapan bagi semua dan berbahaya yang menjadi medan pertumbuhan perdagangan bagi
pemegang kepentingan kami. Rangka operasi kami. Sebagai peneraju segmen industri perkhidmatan minyak & gas
Kerja Kemapanan kami (meliputi perniagaan OSV di Malaysia dan secara keseluruhannya. MOGSC adalah
dimensi Persekitaran Tempat Kerja, sebagai jenama yang disegani di wakil tunggal industri perkhidmatan
Alam Sekitar, Masyarakat dan Pasaran) pasaran serantau, kami mempunyai minyak & gas yang diperakui oleh
menjelaskan beberapa inisiatif tanggungjawab tambahan dalam PEMANDU, pemacu Program
tanggungjawab korporat (“CR”) yang memastikan standard HSSE Transformasi Ekonomi negara.
kami laksanakan. antarabangsa yang ketat sentiasa
dipatuhi. Ini bukan sahaja akan
Pada FY2010, usaha CR kami membantu mengukuhkan jenama Petra
dihalakan terutamanya ke arah inisiatif Perdana tetapi juga kedudukan
Tempat Kerja dan Alam Sekitar. Kami Malaysia di mata dunia dalam industri
berusaha untuk mengukuhkan minyak dan gas. Semua ini akan kekal
kemahiran dan kepakaran tenaga kerja menjadi bidang keutamaan kami
kami, supaya mereka seterusnya dapat memandangkan kami sedang berusaha
financial statements
Directors’ Report 75
Statement by Directors 81
Statutory Declaration 81
Independent Auditors’ Report 82
Statements of Financial Position 84
Statements of Comprehensive Income 86
Statement of Changes in Equity 87
Statements of Cash Flows 89
Notes to the Financial Statements 92

2010
annual report 75
Directors’ Report
The directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial year ended
31 December 2010.
PRINCIPAL ACTIVITIES
The Company is principally an investment holding company and is also engaged in the provision of administrative and management
services to its subsidiaries. The principal activities of the subsidiaries are described in Note 5 to the financial statements. There have been
no significant changes in the nature of these activities during the financial year.
RESULTS
The Group The Company

RM'000 RM'000
Loss after taxation attributable to owners

of the Company (72,002) (16,995)
DIVIDENDS
Since the end of the previous financial year, the Company paid a first and final dividend of 2.0 sen per ordinary share of RM0.50 each,
less tax at 25% on 297,600,000 ordinary shares amounting to RM4,464,000 in respect of the financial year ended 31 December 2009.
The directors do not recommend the payment of any dividend in respect of the financial year ended 31 December 2010.
RESERVES AND PROVISIONS
All material transfers to or from reserves or provisions during the financial year are disclosed in the financial statements.
Directors’ Report (cont’d)
ISSUES OF SHARES AND DEBENTURES
During the financial year,
(a) there was no change in the authorised share capital of the Company;
(b) the Company increased its issued and paid-up share capital from RM148,800,000 to RM225,060,000 by:
(i) an issuance of 29,760,000 new ordinary shares of RM0.50 each for cash for the purpose of payment of charter deposits and
working capital use pursuant to the Company’s private placement at a subscription price of RM1.32 per share on 30 June 2010.
The new shares were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 2 July
2010; and
(ii) an issuance of 122,760,000 new ordinary shares of RM0.50 each for cash for the purpose of repayment of borrowings and
working capital use pursuant to the Company’s renounceable rights issue with free detachable warrants (“Rights Issue”) on the
basis of three (3) rights shares (“Rights Shares”) for every eight (8) existing ordinary shares of RM0.50 each held in the
Company together with 61,379,785 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every two (2)
Rights Shares subscribed at an issue price of RM0.59 per Right Share on 27 October 2010. The new shares were listed and
quoted on the Main Market of Bursa Securities on 1 November 2010.
The new ordinary shares issued during the financial year ranked pari passu in all respects with the existing ordinary shares of the
Company; and
(c) there were no issues of debentures by the Company.
OPTIONS GRANTED OVER UNISSUED SHARES
During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company except
for the issuance of Warrants in conjunction with the Rights Issue above.
2010
annual report 77
WARRANTS 2010/2015
The Company had on 27 October 2010 issued 61,379,785 free Warrants in conjunction with the Rights Issue. The Warrants are
constituted by a Deed Poll dated 15 September 2010.
The salient terms of the Warrants 2010/2015 are as follows:
(a) Each Warrant entitles the registered holder to subscribe for one (1) new ordinary share of RM0.50 each in the Company at any time
on or before the maturity date, 26 October 2015, falling five (5) years from the date of issue of the Warrants. Unexercised Warrants
after the exercise period will thereafter lapse and cease to be valid;
(b) The exercise price of the Warrants is fixed at RM1.00 per Warrant;
(c) The new ordinary shares to be issued upon the exercise of the Warrants shall rank pari passu in all respects with the existing ordinary
shares of the Company; and
(d) The Warrants were listed and quoted on the Main Market of Bursa Securities on 1 November 2010.
The movements of the Warrants during the financial year are as follows:
Entitlement For Ordinary Shares Of RM0.50 Each

Issued On At
27.10.2010 Exercised Cancelled 31.12.2010
Number of unexercised Warrants 61,379,785 – – 61,379,785
BAD AND DOUBTFUL DEBTS
Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain that
action had been taken in relation to the writing off of bad debts and the making of allowance for impairment losses on receivables, and
satisfied themselves that there are no known bad debts and that adequate allowance had been made for impairment losses on receivables.
At the date of this report, the directors are not aware of any circumstances that would require the writing off of bad debts, or the additional
allowance for impairment losses on receivables in the financial statements of the Group and of the Company.
CURRENT ASSETS
Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain that any
current assets other than debts, which were unlikely to be realised in the ordinary course of business, including their value as shown in the
accounting records of the Group and of the Company, have been written down to an amount which they might be expected so to realise.
At the date of this report, the directors are not aware of any circumstances which would render the values attributed to the current assets
in the financial statements misleading.
VALUATION METHODS
At the date of this report, the directors are not aware of any circumstances which have arisen which render adherence to the existing
methods of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate.
CONTINGENT AND OTHER LIABILITIES
The contingent liabilities are disclosed in Note 41 to the financial statements. At the date of this report, there does not exist:
(a) any charge on the assets of the Group and of the Company that has arisen since the end of the financial year which secures the
liabilities of any other person; or
(b) any contingent liability of the Group and of the Company which has arisen since the end of the financial year.
No contingent or other liability of the Group and of the Company has become enforceable or is likely to become enforceable within the
period of twelve (12) 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 when they fall due.
CHANGE OF CIRCUMSTANCES
At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or the financial statements
of the Group and of the Company which would render any amount stated in the financial statements misleading.
ITEMS OF AN UNUSUAL NATURE
The results of the operations of the Group and of the Company during the financial year were not, in the opinion of the directors,
substantially affected by any item, transaction or event of a material and unusual nature other than the effects arising from the adoption
of FRS 139 Financial Instruments: Recognition and Measurement which had increased the Group and the Company’s net losses by
RM5,915,728 and RM192,549 respectively.
There has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a
material and unusual nature likely, in the opinion of the directors, to affect substantially the results of the operations of the Group and of
the Company for the financial year.
EMPLOYEES' SHARE OPTION SCHEME ("ESOS")
The Group's ESOS was approved by the Securities Commission on 16 August 2001 and shall be in force for a period of ten (10) years
commencing from 12 March 2002.
The ESOS was approved by the shareholders at an Extraordinary General Meeting held on 31 January 2002.
During the financial year, no options under the ESOS were granted.
DIRECTORS
The directors who served since the date of the last report are as follows:
Shamsul Bin Saad

Dato’ Kho Poh Eng
Koh Pho Wat
Surya Hidayat Bin Abdul Malik
Ganesan A/L Sundaraj
Idris Bin Zaidel
Raja Anuar Bin Raja Abu Hassan
Hamdan Bin Rasid (Appointed on 20.7.2010)
2010
annual report 79
DIRECTORS’ INTERESTS
According to the register of directors’ shareholdings, the interests of directors holding office at the end of the financial year in shares in
the Company and its related corporations during the financial year are as follows:
Number Of Ordinary Shares Of RM0.50 Each

At At
1.1.2010 Bought Sold 31.12.2010
The Company
Direct Interests
Shamsul Bin Saad 8,425,000 3,159,375 – 11,584,375
Dato’ Kho Poh Eng 14,195,630 5,689,448 – 19,885,078
Koh Pho Wat 15,649,330 6,868,401 – 22,517,731
Deemed Interests
Shamsul Bin Saad – 9,625 – 9,625#
Dato’ Kho Poh Eng 71,067 28,933 – 100,000#
Koh Pho Wat 226,032 84,968 – 311,000#
Number Of Warrants 2010/2015

Issued On At
27.10.2010 Bought Exercised 31.12.2010
Direct Interests
Shamsul Bin Saad 1,579,687 – – 1,579,687
Dato’ Kho Poh Eng 2,844,724 – – 2,844,724
Koh Pho Wat 3,434,200 – – 3,434,200
Deemed Interests
Shamsul Bin Saad 1,312 – – 1,312#
Dato’ Kho Poh Eng 14,466 – – 14,466#
Koh Pho Wat 42,484 – – 42,484#
# Deemed interest pursuant to Section 134(12)(c) of the Companies Act 1965.
The other directors holding office at the end of the financial year had no interest in shares in the Company and its related corporations
during the financial year.
DIRECTORS’ BENEFITS
Since the end of the previous financial year, no director has received or 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, or the
fixed salary of a full-time employee of the Company) by reason of a contract made by the Company or a related corporation 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.
Neither during nor at the end of the financial year was the Group or the Company a party to any arrangements whose object is to enable
the directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate.
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
The significant events during the financial year of the Group and of the Company are disclosed in Note 46 to the financial statements.
SIGNIFICANT EVENT OCCURRING AFTER THE REPORTING PERIOD
The significant event occurring after the reporting period of the Group and of the Company is disclosed in Note 47 to the financial statements.
AUDITORS
The auditors, Messrs. Crowe Horwath, have expressed their willingness to continue in office.
Signed in accordance with a resolution of the directors dated 28 April 2011.
Koh Pho Wat
Shamsul Bin Saad

2010
annual report 81
Statement by Directors
We, Koh Pho Wat and Shamsul Bin Saad, being two of the directors of Petra Perdana Berhad, state that, in the opinion of
the directors, the financial statements set out on pages 84 to 162 are 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 state of affairs of the Group and of the Company
at 31 December 2010 and of their results and cash flows for the financial year ended on that date.
The supplementary information set out in Note 49 on page 163, which is not part of the financial statements, is prepared in all material
respects, in accordance with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context
of Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants and
the directive of Bursa Malaysia Securities Berhad.
Signed in accordance with a resolution of the directors dated 28 April 2011.
Koh Pho Wat Shamsul Bin Saad
Statutory Declaration
I, Soon Fook Kian, being the officer primarily responsible for the financial management of Petra Perdana Berhad, do solemnly and
sincerely declare that the financial statements set out on pages 84 to 162 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 )

Soon Fook Kian, at Kuala Lumpur in )
the Federal Territory on this )
28 April 2011 ) Soon Fook Kian
Before me
COMMISIONER OF OATHS
Kuala Lumpur
Independent Auditors’ Report

To the Members of Petra Perdana Berhad
Report on the Financial Statements
We have audited the financial statements of Petra Perdana Berhad, which comprise the statements of financial position as at 31 December
2010 of the Group and of the Company, and the statements of comprehensive income, statements of changes in equity and statements
of cash flows of the Group and of the Company for the financial year then ended, and a summary of significant accounting policies and
other explanatory information, as set out on pages 84 to 162.
Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation of financial statements that give a true and fair view in accordance with
Financial Reporting Standards and the Companies Act 1965 in Malaysia, and for such internal control as the directors determine is
necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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 about 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 judgement, 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 of
financial statements that give a true and fair view 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 31
December 2010 and of their financial performance and cash flows for the financial 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 financial statements and the auditors’ reports of all the subsidiaries of which we have not acted as auditors,
which are indicated in Note 5 to the financial statements.
(c) We are satisfied that the financial statements 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 financial statements of the subsidiaries did not contain any qualification or any adverse comment made under
Section 174(3) of the Act.
2010
annual report 83
Independent Auditors’ Report (cont’d)

To the Members of Petra Perdana Berhad
Report on Other Legal and Regulatory Requirements (Cont’d)
The supplementary information set out in Note 49 on page 163 is disclosed to meet the requirement of Bursa Malaysia Securities Berhad
and is not part of the financial statements. The directors are responsible for the preparation of the supplementary information in accordance
with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant
to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants ("MIA Guidance") and the
directive of Bursa Malaysia Securities Berhad. In our opinion, the supplementary information is prepared, in all material respects, in
accordance with the MIA Guidance and the directive of Bursa Malaysia Securities Berhad.
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.
Crowe Horwath Poon Yew Hoe

Firm No : AF 1018 Approval No : 956/04/12 (J)
Chartered Accountants Chartered Accountant
28 April 2011
Kuala Lumpur
Statements of Financial Position

At 31 December 2010

Restated Restated Restated Restated
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009
Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
ASSETS
NON-CURRENT ASSETS
Investment in subsidiaries 5 – – – 307,461 307,406 346,012

Investment in an associate 6 88,420 90,319 – 19,233 19,233 –
Property, plant and equipment 7 400,934 460,698 659,068 6,521 8,537 43,041
Prepaid lease payments – – 7,275 – – –
Amount owing by subsidiaries 8 – – – 400,949 353,576 301,495
Amount owing by an associate – – – – – 51,649
Refundable deposits 9 90,930 98,221 58,492 – – 21,999
Intangible assets 10 27,507 27,507 27,507 – – –
Deferred tax assets 11 46 46 62 46 46 46
607,837 676,791 752,404 734,210 688,798 764,242
CURRENT ASSETS
Inventories 12 6,908 5,533 50,299 – – –

Receivables 13 99,293 97,827 304,061 1,740 15,104 10,636
Amount owing by contract customers – – 6,471 – – –
Amount owing by subsidiaries 8 – – – 271 27 8
Amount owing by related parties 14 36,614 38,194 – 259 259 –
Amount owing by an associate 15 – 51,649 – – 51,649 10,000
Tax recoverable 3,758 5,057 7,145 3,102 3,900 4,482
Fixed deposits with licensed banks 16 51,188 158,437 337,423 47,360 152,392 215,236
Cash and bank balances 18,293 21,288 33,348 3,018 8,270 781
216,054 377,985 738,747 55,750 231,601 241,143

Non-current asset classified as
held for sale 17 – 86,361 4,501 – – –
TOTAL ASSETS 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
The annexed notes form an integral part of these financial statements.

2010
annual report 85
Statements of Financial Position (cont’d)

At 31 December 2010

Restated Restated Restated Restated
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009
Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
EQUITY AND LIABILITIES
EQUITY
Share capital 18 225,060 148,800 148,800 225,060 148,800 148,800
Reserves 19 278,975 414,869 396,820 232,056 219,754 118,824
TOTAL EQUITY ATTRIBUTABLE

TO OWNERS OF THE COMPANY 504,035 563,669 545,620 457,116 368,554 267,624
MINORITY INTERESTS 217 580 118,162 – – –
TOTAL EQUITY 504,252 564,249 663,782 457,116 368,554 267,624
NON-CURRENT LIABILITIES
Deferred taxation 21 4,048 2,060 30,908 – – –
Long-term borrowings 22 146,088 227,063 295,280 105,108 227,000 295,000
Derivative liability 25 3,070 – – – – –
Payables 26 260 241 511 214 201 231
153,466 229,364 326,699 105,322 227,201 295,231
CURRENT LIABILITIES
Payables 26 66,472 125,056 127,811 8,573 8,804 15,336
Amount owing to subsidiaries 8 – – – 123,839 95,862 64,194
Amount owing to related parties 14 33 236 – 32 3 –
Amount owing to an associate 15 – 1,975 – – 1,975 –
Amount owing to contract customers – – 9,625 – – –
Short-term borrowings 27 98,808 218,019 366,023 95,078 218,000 363,000
Provision for taxation 860 2,238 1,712 – – –
166,173 347,524 505,171 227,522 324,644 442,530
TOTAL LIABILITIES 319,639 576,888 831,870 332,844 551,845 737,761
TOTAL EQUITY AND LIABILITIES 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
NET ASSETS PER

ORDINARY SHARE (RM) 28 1.12 1.89

Statements of Comprehensive Income

For the Financial Year Ended 31 December 2010

2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
REVENUE 29 254,887 605,684 11,681 48,167
COST OF SALES (280,800) (491,792) – –
GROSS (LOSS)/PROFIT (25,913) 113,892 11,681 48,167

OTHER INCOME 28,262 32,866 4,873 99,823
2,349 146,758 16,554 147,990

SELLING AND DISTRIBUTION COSTS (2,377) (4,373) – –
ADMINISTRATIVE EXPENSES (27,379) (49,756) (12,039) (9,037)
OTHER EXPENSES (22,922) (10,485) (2,092) (425)
FINANCE COSTS (22,955) (32,695) (19,426) (32,903)
SHARE OF RESULTS IN AN ASSOCIATE 387 (748) – –
(LOSS)/PROFIT BEFORE TAXATION 30 (72,897) 48,701 (17,003) 105,625

INCOME TAX EXPENSE 31 491 (12,351) 8 (231)
(LOSS)/PROFIT AFTER TAXATION (72,406) 36,350 (16,995) 105,394
OTHER COMPREHENSIVE INCOME

– Foreign currency translation (56,594) (8,927) – –
– Cash flow hedge (1,311) – – –
(57,905) (8,927) – –
TOTAL COMPREHENSIVE
(EXPENSES)/INCOME
FOR THE FINANCIAL YEAR (130,311) 27,423 (16,995) 105,394
(LOSS)/PROFIT AFTER
TAXATION ATTRIBUTABLE TO:
Owners of the Company (72,002) 29,317 (16,995) 105,394
Minority interests (404) 7,033 – –
(72,406) 36,350 (16,995) 105,394
TOTAL COMPREHENSIVE
(EXPENSES)/INCOME
ATTRIBUTABLE TO:
Owners of the Company (129,948) 20,116 (16,995) 105,394
Minority interests (363) 7,307 – –
(130,311) 27,423 (16,995) 105,394
(LOSS)/EARNINGS PER SHARE

– basic (sen) 32 (21.5) 9.9
– diluted (sen) 32 Not Not
applicable applicable

2010
annual report 87
Statements of Changes in Equity

<---------------------------------Non–Distributable---------------------------------> Distributable
Capital Cash Flow Other Attributable
Share Share Warrant Redemption Translation Hedge Capital Retained To Owners Of Minority Total
Capital Premium Reserve Reserve Reserve Reserve Reserve Profits The Company Interests Equity
Note RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM'000 RM'000 RM'000
The Group
Balance at 1 January 2009 148,800 60,377 – 2,127 6,860 – – 327,456 545,620 118,162 663,782
Total comprehensive income
for the financial year – – – – (9,201) – – 29,317 20,116 7,307 27,423
Reclassify to profit or loss on
disposal of a vessel – – – – 2,397 – – – 2,397 – 2,397
Acquisition of interest
in a subsidiary – – – – – – – – – 562 562
Disposal of interest in a
subsidiary 35 – – – – – – – – – (123,880) (123,880)
Issuance of shares by a
subsidiary to minority interests – – – – – – – – – 322 322
Dividend 33 – – – – – – – (4,464) (4,464) – (4,464)
Dividend paid to minority
interests by subsidiaries – – – – – – – – – (1,893) (1,893)
Balance at 31 December 2009 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
Balance at 31 December 2009/

1 January 2010
– as previously reported 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
– effect of adopting FRS 139 3(a)(iii) – – – – – – – (35,045) (35,045) – (35,045)
– as restated 148,800 60,377 – 2,127 56 – – 317,264 528,624 580 529,204

Total comprehensive expenses
for the financial year – – – – (56,635) (1,311) – (72,002) (129,948) (363) (130,311)
Amendment of Labuan Companies
Act 1990 on share capital – – – (2,127) – – 2,127 – – – –
Issuance of ordinary shares
under a private placement 14,880 24,403 – – – – – – 39,283 – 39,283
Issuance of ordinary shares
under rights issue 61,380 – 11,048 – – – – – 72,428 – 72,428
Share issue expenses – (1,888) – – – – – – (1,888) – (1,888)
Dividend 33 – – – – – – – (4,464) (4,464) – (4,464)
Balance at 31 December 2010 225,060 82,892 11,048 – (56,579) (1,311) 2,127 240,798 504,035 217 504,252

Statements of Changes in Equity (cont’d)

Share Share Warrant Retained

Capital Premium Reserve Profits Total
Note RM'000 RM'000 RM’000 RM'000 RM'000
The Company
Balance at 1 January 2009 148,800 60,377 – 58,447 267,624

Total comprehensive income for
the financial year – – – 105,394 105,394
Dividend 33 – – – (4,464) (4,464)
Balance at 31 December 2009/

1 January 2010
– as previously reported 148,800 60,377 – 159,377 368,554
– effect of adopting FRS 139 3(a)(iii) – – – 198 198
– as restated 148,800 60,377 – 159,575 368,752

Total comprehensive expenses
for the financial year – – – (16,995) (16,995)
Issuance of ordinary shares under
a private placement 14,880 24,403 – – 39,283
Issuance of ordinary shares under
a rights issue 61,380 – 11,048 – 72,428
Share issue expenses – (1,888) – – (1,888)
Dividend 33 – – – (4,464) (4,464)
Balance as at 31 December 2010 225,060 82,892 11,048 138,116 457,116

2010
annual report 89
Statements of Cash Flows


2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
CASH FLOWS (FOR)/FROM

OPERATING ACTIVITIES
(Loss)/Profit before taxation (72,897) 48,701 (17,003) 105,625
Adjustments for:
Allowance for impairment loss
on receivables/related parties/
subsidiaries 5,020 – 5 –
Amortisation of prepaid lease payments – 118 – –
Depreciation of property, plant
and equipment 36,227 48,956 445 425
Impairment loss on property,
plant and equipment 2,982 – – –
Impairment loss on
refundable deposits 9,380 – – –
Interest expense 21,651 25,770 18,667 29,727
Inventories written off – 2 – –
Provision for retirement contributions – 58 – 9
Property, plant and equipment
written off 9 – – –
Accretion of refundable deposits (3,657) – – –
Dividend from subsidiaries – – (10,946) (46,209)
Dividend from an associate – – (577) –
Gain on transfer of property, plant
and equipment – – – (554)
Gain on disposal of interest
in a subsidiary – (12,677) – (86,351)
(Gain)/Loss on disposal of
property, plant and equipment (424) (3,165) 1,509 –
Gain on disposal of non-current
asset classified as held for sale (5,855) (1,952) – –
Interest income (3,669) (3,845) (4,523) (11,636)
Unrealised gain on foreign exchange (9,464) (399) – –
Waiver of debts (107) (866) – –
Write-back of impairment loss on
receivables – (555) – (944)
Share of results in an associate (387) 748 – –
Operating (loss)/profit before
working capital changes (21,191) 100,894 (12,423) (9,908)
Increase in inventories (1,524) (13,510) – –

Increase in amount
owing by contract customers – (16,905) – –
Decrease in amount
owing to contract customers – (1,586) – –
(Increase)/Decrease in receivables (6,056) (62,018) 13,365 (6,330)
(Decrease)/Increase in payables (57,291) 91,627 (198) (6,571)

Statements of Cash Flows (cont’d)


2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
Decrease/(Increase) in amount
owing by related parties 988 (29,887) – –
CASH (FOR)/FROM
OPERATIONS (85,074) 68,615 744 (22,809)
Interest paid (21,651) (25,770) (18,667) (29,727)

Tax paid (2,210) (16,484) – (1,138)
Tax refund 4,682 2,475 3,219 1,489
NET CASH (FOR)/FROM

OPERATING ACTIVITIES (104,253) 28,836 (14,704) (52,185)
CASH FLOWS FROM/(FOR)

INVESTING ACTIVITIES
Investment in new subsidiaries – – (55) *

Investment in an associate – (40) – –
Advances (to)/from subsidiaries – – (47,621) 10,227
(Advances to)/Repayment from
related parties (4,661) 106,163 – (259)
Acquisition of additional
interest in a subsidiary – – – (394)
Net cash outflow from
acquisition of subsidiaries – (2,637) – –
Net cash inflow from disposal
of interest in a subsidiary 35 – 60,762 – 106,118
Dividend received from subsidiaries – – 8,532 46,209
Dividend received from an associate 577 – 577 –
Refundable deposits paid (42,535) (34,109) – –
Proceeds from disposal of
property, plant and equipment 177,580 326,539 6,900 –
Proceeds from disposal of non-current
asset classified as
held for sale 94,501 6,656 – –
Net repayment from an associate 49,674 1,803 49,674 10,000
Purchase of property, plant
and equipment 36 (190,955) (529,309) (6,448) (2,889)
Interest received 3,669 3,845 4,523 11,636
Withdrawal of fixed deposits 112,768 2,216 115,246 610
NET CASH FROM/(FOR)

INVESTING ACTIVITIES 200,618 (58,111) 131,328 181,258
BALANCE CARRIED FORWARD 96,365 (29,275) 116,624 129,073
* Less than RM1,000.

2010
annual report 91
Statements of Cash Flows (cont’d)


2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
BALANCE BROUGHT FORWARD 96,365 (29,275) 116,624 129,073
CASH FLOWS FOR

FINANCING ACTIVITIES
Proceeds from issuance of shares
by a subsidiary to minority
shareholders 45 322 – –
Proceeds from issuance of shares 111,711 – 111,711 –
Share issue expenses (1,888) – (1,888) –
Drawdown of bank borrowings 71,408 231,368 25,000 170,000
Repayment of bank borrowings (270,000) (384,908) (270,000) (383,000)
Repayment of hire purchase
obligations (46) (245) (27) –
Advances from subsidiaries – – 27,977 31,668
Repayment to associate – – – 1,975
(Repayment to)/Advances from
related parties (219) 236 29 3
Dividend paid to minority
shareholders by subsidiaries – (1,893) – –
Dividend paid (4,464) (4,464) (4,464) (4,464)
NET CASH FOR

FINANCING ACTIVITIES (93,453) (159,584) (111,662) (183,818)
NET INCREASE/(DECREASE)
IN CASH AND CASH
EQUIVALENTS 2,912 (188,859) 4,962 (54,745)
EFFECTS OF FOREIGN
EXCHANGE TRANSLATION (388) 920 – –
CASH AND CASH

EQUIVALENTS AT
BEGINNING OF THE
FINANCIAL YEAR 35,419 223,358 16,356 71,101
CASH AND CASH

EQUIVALENTS AT END
OF THE FINANCIAL YEAR 37 37,943 35,419 21,318 16,356

Notes to the Financial Statements

1. GENERAL INFORMATION
The Company is a public company limited by shares and is incorporated under the Companies Act 1965 in Malaysia. The domicile
of the Company is Malaysia. The registered office which is also the principal place of business, is at No. 6-8, Jalan 3/3C, Batu 7,
Jalan Ipoh, 68100 Kuala Lumpur.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors
dated 28 April 2011.
2. PRINCIPAL ACTIVITIES
The Company is principally an investment holding company and is also engaged in the provision of administrative and management
services to its subsidiaries. The principal activities of the subsidiaries are described in Note 5 to the financial statements. There have
been no significant changes in the nature of these activities during the financial year.
3. BASIS OF PREPARATION
The financial statements of the Group are prepared under the historical cost convention and modified to include other bases of
valuation as disclosed in other sections under significant accounting policies, and in compliance with Financial Reporting Standards
(“FRS”) and the Companies Act 1965 in Malaysia.
(a) During the current financial year, the Group has adopted the following new accounting standards and interpretations (including
the consequential amendments):
FRSs and IC Interpretations (Including the Consequential Amendments)
FRS 4 Insurance Contracts
FRS 7 Financial Instruments: Disclosures
FRS 8 Operating Segments
FRS 101 (Revised) Presentation of Financial Statements
FRS 123 (Revised) Borrowing Costs
FRS 139 Financial Instruments: Recognition and Measurement
Amendments to FRS 1 and FRS 127: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate
Amendments to FRS 2: Vesting Conditions and Cancellations
Amendments to FRS 7, FRS 139 and IC Interpretation 9
Amendments to FRS 101 and FRS 132: Puttable Financial Instruments and Obligations Arising on Liquidation
Amendments to FRS 132: Classification of Rights Issues and the Transitional Provision in Relation to Compound Instruments
IC Interpretation 9 Reassessment of Embedded Derivatives

2010
annual report 93
Notes to the Financial Statements (cont’d)

3. BASIS OF PREPARATION (CONT’D)
(a) FRSs and IC Interpretations (Including the Consequential Amendments) (Cont’d)
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
Annual Improvements to FRSs (2009)
(a) The adoption of the above accounting standards and interpretations (including the consequential amendments) did not
have any material impact on the Group’s financial statements, other than the following:
(i) FRS 7 requires additional disclosures about the financial instruments of the Group. Prior to 1 January 2010,
information about financial statements was disclosed in accordance with the requirements of FRS 132 – Financial
Instruments: Disclosures and Presentation. FRS 7 requires the disclosure of qualitative and quantitative information
about exposure to risks arising from financial instruments, including specified minimum disclosures about credit risk,
liquidity risk and market risk, including sensitivity analysis to market risk.
The Group has applied FRS 7 prospectively in accordance with the transitional provisions. Accordingly, the new
disclosures have not been applied to the comparatives and are included throughout the financial statements for the
current financial year.
(ii) FRS 101 (Revised) introduces the statement of comprehensive income, with all items of income and expense
recognised in profit or loss, together with all other items of recognised income and expense recognised directly in
equity, either in one single statement, or in two linked statements. The Group has elected to present this statement as
one single statement.
The revised standard also separates owner and non-owner changes in equity. The statement of changes in equity
includes only details of transactions with owners, with all non-owner changes in equity presented in the statement of
comprehensive income as other comprehensive income.
FRS 101 (Revised) also requires the Group to make new disclosures to enable users of the financial statements to
evaluate the Group’s objectives, policies and processes for managing capital. This new disclosure is made in Note
45(b) to the financial statements.

(a) (iii) The adoption of FRS 139 (including the consequential amendments) has resulted in several changes to accounting
policies relating to recognition and measurements of financial instruments.
The financial impact to the financial statements is summarised as follows:
The Group
At
1.1.2010
Note RM’000
Retained profits
Remeasurement of non-current refundable deposits (aa) (35,728)
Remeasurement of borrowings (bb) 198
Share of FRS 139 financial effects in an associate 485
(35,045)
The Company
At
1.1.2010
Note RM’000
Retained profits
Remeasurement of borrowings (bb) 198
(aa) Prior to 1 January 2010, the Group’s refundable deposits that were classified under non-current assets were recorded
at cost. With the adoption of FRS 139, these deposits are now recognised initially at their fair values, which are
estimated by discounting the expected cash flows using the current market interest rate of a loan with similar risk and
tenure. Subsequent to initial recognition, the refundable deposits are measured at amortised cost. Interest income is
recognised in profit or loss using the effective interest method.
(bb) Prior to 1 January 2010, the Group and the Company’s borrowings were recorded at cost. With the adoption of
FRS 139, these borrowings are now recognised initially at their fair values and remeasured at amortised cost at each
subsequent reporting period.
(cc) Prior to 1 January 2010, inter-company loans or advances were recorded at cost. With the adoption of FRS 139,
inter-company loans and advances are now recognised initially at their fair values, which are estimated by
discounting the expected cash flows using the current market interest rate of a loan with similar risk and tenure.
Subsequent to initial recognition, these loans and advances are measured at amortised cost.
Besides, certain loans or advances of which the settlement is neither planned nor likely to occur in the foreseeable
future are, in substance, a part of the Company’s net investment in the subsidiaries, and are stated at cost less any
impairment loss in the financial statements of the Company. Accordingly, the adoption of FRS 139 did not have any
financial impact on the financial statements in respect of these loans or advances.
(dd) The Company has previously asserted explicitly that it regards financial guarantee contracts of banking facilities
granted to its subsidiaries and related parties as insurance contracts and will apply FRS 4 to such financial guarantee
contracts. Accordingly, the adoption of FRS 139 did not have any financial impact on the financial statements in
respect of the financial guarantee contracts issued by the Company to its subsidiaries and related parties. These
financial guarantee contracts issued are disclosed as contingent liabilities under Note 41 to the financial statements.
All these financial impacts are recognised as an adjustment to the opening balance of retained profits as at 1 January
2010 upon the adoption of FRS 139. Comparatives are not adjusted/represented by virtue of the exemption given in
this standard.
2010
annual report 95

(b) The Group has not applied in advance the following accounting standards and interpretations (including the consequential
amendments) that have been issued by the Malaysian Accounting Standards Board (MASB) but are not yet effective for the
current financial year:
FRSs and IC Interpretations (Including the Consequential Amendments) Effective Date
FRS 1 (Revised) First-time Adoption of Financial Reporting Standards 1 July 2010
FRS 3 (Revised) Business Combinations 1 July 2010
FRS 124 (Revised) Related Party Disclosures 1 January 2012
FRS 127 (Revised) Consolidated and Separate Financial Statements 1 July 2010
Amendments to FRS 1 (Revised): Limited Exemption from Comparative FRS 7 Disclosures for
First-time Adopters 1 January 2011
Amendments to FRS 1: Additional Exemptions for First-time Adopters 1 January 2011
Amendments to FRS 2: Scope of FRS 2 and FRS 3 (Revised) 1 July 2010
Amendments to FRS 2: Group Cash-settled Share-based Payment Transactions 1 January 2011
Amendments to FRS 5: Plan to Sell the Controlling Interest in a Subsidiary 1 July 2010
Amendments to FRS 7: Improving Disclosures about Financial Instruments 1 January 2011
Amendments to FRS 138: Consequential Amendments Arising from FRS 3 (Revised) 1 July 2010
Amendments to IC Interpretation 9: Scope of IC Interpretation 9 and FRS 3 (Revised) 1 July 2010
Amendments to IC Interpretation 14: Prepayments of a Minimum Funding Requirement 1 July 2011
IC Interpretation 4 Determining Whether An Arrangement Contains a Lease 1 January 2011
IC Interpretation 12 Service Concession Arrangements 1 July 2010
IC Interpretation 15 Agreements for the Construction of Real Estate 1 January 2012
IC Interpretation 16 Hedges of a Net Investment in a Foreign Operation 1 July 2010
IC Interpretation 17 Distributions of Non-cash Assets to Owners 1 July 2010
IC Interpretation 18 Transfers of Assets from Customers 1 January 2011
IC Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments 1 July 2011
Annual Improvements to FRSs (2010) 1 January 2011


(b) The above accounting standards and interpretations (including the consequential amendments) are not relevant to the Group’s
operations except as follows:
(i) FRS 3 (Revised) introduces significant changes to the accounting for business combinations, both at the acquisition date
and post acquisition, and requires greater use of fair values. In addition, all transaction costs, other than share and debt
issue costs, will be expensed as incurred. This revised standard will be applied prospectively and therefore there will not
have any financial impact on the financial statements of the Group for the current financial year but may impact the
accounting for future transactions or arrangements.
(ii) FRS 127 (Revised) requires accounting for changes in ownership interests by the group in a subsidiary, while maintaining
control, to be recognised as an equity transaction. When the group loses control of a subsidiary, any interest retained in
the former subsidiary will be measured at fair value with the gain or loss recognised in profit or loss. The revised standard
also requires all losses attributable to the minority interest to be absorbed by the minority interest instead of by the parent.
The Group will apply the major changes of FRS 127 (Revised) prospectively and therefore there will not have any financial
impact on the financial statements of the Group for the current financial year but may impact the accounting of its future
transactions or arrangements.
4. SIGNIFICANT ACCOUNTING POLICIES
(a) Critical Accounting Estimates and Judgements
Estimates and judgements are continually evaluated by the directors and management and are based on historical experience
and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The
estimates and judgements that affect the application of the Group’s accounting policies and disclosures, and have a significant
risk of causing a material adjustment to the carrying amounts of assets, liabilities, income and expenses are discussed below:
(i) Depreciation of Property, Plant and Equipment
The estimates for the residual values, useful lives and related depreciation charges for the property, plant and equipment
is based on commercial factors which could change significantly as a result of technical innovations and competitors’
actions in response to the market conditions.
The Group anticipates that the residual value of its property, plant and equipment will be insignificant. As a result, the
residual values are not being taken into consideration for the computation of the depreciable amount.
Changes in the expected level of usage and technological development could impact the economic useful lives and the
residual values of these assets, therefore future depreciation charges could be revised.
(ii) Income Taxes
There are certain transactions and computations for which the ultimate tax determination may be different from the initial
estimate. The Group recognises tax liabilities based on its understanding of the prevailing tax laws and estimates of
whether such taxes will be due in the ordinary course of business. Where the final outcome of these matters is different
from the amounts that were initially recognised, such difference will impact the income tax and deferred tax provisions in
the year in which such determination is made.
2010
annual report 97

4. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(a) Critical Accounting Estimates and Judgements (Cont’d)
(iii) Impairment of Non-financial Assets
When the recoverable amount of an asset is determined based on the estimate of the value-in-use of the cash-generating
unit to which the asset is allocated, the management is required to make an estimate of the expected future cash flows
from the cash-generating unit and also to apply a suitable discount rate in order to determine the present value of those
cash flows.
(iv) Allowance for Inventories
Reviews are made periodically by management on damaged, obsolete and slow-moving inventories. These reviews require
judgement and estimates. Possible changes in these estimates could result in revisions to the valuation of inventories.
(v) Operating Lease
The Group entered into several conditional Sale and Leaseback Agreements for the sales of the subsidiaries’ vessels with
third parties. Subsequently, these vessels were leased back by other subsidiaries from the third parties for lease periods
ranging from five (5) to ten (10) years commencing from the date of delivery of vessels or financing obtained, with the
option to buy back the vessels at the end of the primary lease term period. The directors are of the opinion that the lease
arrangements should be treated as an operating lease as presently the management has no intention to buy back the
vessels at the end of the primary lease term and the lease term does not constitute the major part of the economic life of
the vessels.
(vi) Impairment of Trade and Other Receivables
An impairment loss is recognised when there is objective evidence that a financial asset is impaired. Management
specifically reviews its loans and receivables financial assets and analyses historical bad debts, customer concentrations,
customer creditworthiness, current economic trends and changes in the customer payment terms when making a
judgement to evaluate the adequacy of the allowance for impairment losses. Where there is objective evidence of
impairment, the amount and timing of future cash flows are estimated based on historical loss experience for assets with
similar credit risk characteristics. If the expectation is different from the estimation, such difference will impact the carrying
value of receivables.
(vii) Impairment of Goodwill
Goodwill is tested for impairment annually and at other times when such indicators exist. This requires management to
estimate the expected future cash flows of the cash-generating unit to which goodwill is allocated and to apply a suitable
discount rate in order to determine the present value of those cash flows. The future cash flows are most sensitive to
budgeted gross margins, growth rates estimated and discount rate used. If the expectation is different from the estimation,
such difference will impact the carrying value of goodwill.
(viii) Fair Value Estimates for Certain Financial Assets and Liabilities
The Group carries certain financial assets and liabilities at fair value, which requires extensive use of accounting
estimates and judgement. While significant components of fair value measurement were determine using verifiable
objective evidence, the amount of changes in fair value would differ if the Group uses different valuation methodologies.
Any changes in fair value of these assets and liabilities would affect the results and/or equity.

(b) Basis of Consolidation
The consolidated financial statements include the financial statements of the Company and its subsidiaries made up to 31
December 2010.
A subsidiary is defined as a company in which the parent company has the power, directly or indirectly, to exercise control
over its financial and operating policies so as to obtain benefits from its activities.
All subsidiaries are consolidated using the purchase method. Under the purchase method, the results of the subsidiaries acquired
or disposed of are included from the date of acquisition or up to the date of disposal. At the date of acquisition, the fair values
of the subsidiaries’ net assets are determined and these values are reflected in the consolidated financial statements. The cost
of acquisition is measured at the aggregate of the fair values, at the date of exchange, of assets given, liabilities incurred or
assumed, and equity instruments issued by the Group in exchange for control of the acquiree, plus any costs directly attributable
to the business combination.
Intragroup transactions, balances and unrealised gains on transactions are eliminated; unrealised losses are also eliminated
unless cost cannot be recovered. Where necessary, adjustments are made to the financial statements of subsidiaries to ensure
consistency of accounting policies with those of the Group.
Minority interests in the consolidated statement of financial position consist of the minorities’ share of fair values of the
identifiable assets and liabilities of the acquiree as at the date of acquisition and the minorities’ share of movements in the
acquiree’s equity.
Minority interests are presented within equity in the consolidated statement of financial position, separately from the Company’s
shareholders’ equity, and are separately disclosed in the consolidated statement of comprehensive income. Transactions with
minority interests are accounted for as transactions with owners. Gain or loss on disposal to minority interests is recognised
directly in equity.
(c) Goodwill
Goodwill represents the excess of the fair value of the purchase consideration over the Group’s share of the fair values of the
identifiable assets, liabilities and contingent liabilities of the subsidiaries at the date of acquisition.
Goodwill is measured at cost less impairment losses, if any. The carrying value of goodwill is reviewed for impairment annually.
The impairment value of goodwill is recognised immediately in profit or loss. An impairment loss recognised for goodwill is
not reversed in a subsequent period.
If, after reassessment, the Group’s interest in the fair values of the identifiable net assets of the subsidiaries exceeds the cost of
the business combinations, the excess is recognised as income immediately in profit or loss.
2010
annual report 99

(d) Functional and Foreign Currencies
(i) Functional and Presentation Currency
The individual financial statements of each entity in the Group are presented in the currency of the primary economic
environment in which the entity operates, which is the functional currency.
The consolidated financial statements are presented in Ringgit Malaysia, which is the Company’s functional and
presentation currency.
(ii) Transactions and Balances
Transactions in foreign currencies are converted into the respective functional currencies on initial recognition, using the
exchange rates approximating those ruling at the transaction dates. Monetary assets and liabilities at the end of the
reporting period are translated at the rates ruling as of that date. Non-monetary assets and liabilities are translated using
exchange rates that existed when the values were determined. All exchange differences are recognised in profit or loss.
(iii) Foreign Operations
Assets and liabilities of foreign operations are translated to Ringgit Malaysia at the rates of exchange ruling at the end
of the reporting period. Revenues and expenses of foreign operations are translated at exchange rates ruling at the
dates of the transactions. All exchange differences arising from translation are taken directly to other comprehensive
income and accumulated in equity under translation reserve. On disposal of a foreign operation, the cumulative amount
recognised in other comprehensive income relating to that particular foreign operation is reclassified from equity to
profit or loss.
Goodwill and fair value adjustments arising from the acquisition of foreign operations are treated as assets and liabilities
of the foreign operations and are recorded in the functional currency of the foreign operations and translated at the
closing rate at the end of the reporting period.
(e) Financial Instruments
Financial instruments are recognised in the statements of financial position when the Group has become a party to the
contractual provisions of the instruments.
Financial instruments are classified as liabilities or equity in accordance with the substance of the contractual arrangement.
Interest, dividends, gains and losses relating to a financial instrument classified as a liability, are reported as an expense or
income. Distributions to holders of financial instruments classified as equity are charged directly to equity.
Financial instruments are offset when the Group has a legally enforceable right to offset and intends to settle either on a net
basis or to realise the asset and settle the liability simultaneously.
A financial instrument is recognised initially, at its fair value plus, in the case of a financial instrument not at fair value through
profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial instrument.
Financial instruments recognised in the statements of financial position are disclosed in the individual policy statement associated
with each item.

(e) Financial Instruments (Cont’d)
(i) Financial Assets
On initial recognition, financial assets are classified as either financial assets at fair value through profit or loss, loans and
receivables, held-to-maturity investments, or available-for-sale financial assets, as appropriate.
• Financial Assets at Fair Value Through Profit or Loss
Financial assets are classified as financial assets at fair value through profit or loss when the financial asset is either
held for trading or is designated to eliminate or significantly reduce a measurement or recognition inconsistency that
would otherwise arise. Derivatives are also classified as held for trading (except for a derivative that is a designated
and effective hedging instrument).
Financial assets at fair value through profit or loss are stated at fair value, with any gains or losses arising on
remeasurement recognised in profit or loss. Dividend income from this category of financial assets is recognised in
profit or loss when the Group’s right to receive payment is established.
• Held-to-maturity Investments
Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed
maturities that the management has the positive intention and ability to hold to maturity. Held-to-maturity investments
are measured at amortised cost using the effective interest method less any impairment loss, with revenue recognised
on an effective yield basis.
• Loans and Receivables Financial Assets
Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active
market are classified as loans and receivables financial assets. Loans and receivables financial assets are
measured at amortised cost using the effective interest method, less any impairment loss. Interest income is
recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest
would be immaterial.
• Available-for-sale Financial Assets
Available-for-sale financial assets are non-derivative financial assets that are designated in this category or are not
classified in any of the other categories.
After initial recognition, available-for-sale financial assets are remeasured to their fair values at the end of each
reporting period. Gains and losses arising from changes in fair value are recognised in other comprehensive income
and accumulated in the fair value reserve, with the exception of impairment losses. On derecognition, the cumulative
gain or loss previously accumulated in the fair value reserve is reclassified from equity into profit or loss.
Dividends on available-for-sale equity instruments are recognised in profit or loss when the Group’s right to receive
payments is established.
Investments in equity instruments whose fair value cannot be reliably measured are measured at cost less impairment
losses, if any.
2010
annual report 101

(ii) Financial Liabilities
All financial liabilities are initially recorded at fair value plus directly attributable transaction costs and subsequently
measured at amortised cost using the effective interest method other than those categorised as fair value through profit
or loss.
Fair value through profit or loss category comprises financial liabilities that are either held for trading or are designated
to eliminate or significantly reduce a measurement or recognition inconsistency that would otherwise arise. Derivatives are
also classified as held for trading unless they are designated as hedges.
(iii) Equity Instruments
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from proceeds.
Dividends on ordinary shares are recognised as liabilities when approved for appropriation.
(iv) Warrants
Proceeds, net of issue costs, from the issuance of warrants or allocated in accordance with FRSIC Consensus 9 - Accounting
for Rights Issue with Free Warrants are credited to the warrant reserve which is non-distributable. The warrant reserve is
transferred to the share premium account upon the exercise of the warrants and the warrant reserve in relation to the
unexercised warrants at the expiry of the warrants will be transferred to retained earnings.
(v) Hedge Activities
The Group enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign
exchange rate risks, including cross currency swap and interest rate swap.
The Group designates certain derivatives as either hedges of the fair value of recognised assets or liabilities or firm
commitments (fair value hedges), hedges of highly probable forecast transactions or hedges of foreign currency risk of
firm commitments (cash flow hedges), or hedges of net investments in foreign operations.
• Hedge accounting
The Group designates certain hedging instruments, which include derivatives, embedded derivatives and non-
derivatives in respect of foreign currency risk, as either fair value hedges, cash flow hedges, or hedges of net
investments in foreign operations. Hedges of foreign exchange risk on firm commitments are accounted for as cash
flow hedges.
At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument and
the hedged item, along with its risk management objectives and its strategy for undertaking various hedge
transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether
the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item.

(v) Hedge Activities (Cont’d)
• Fair value hedges
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit
or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable
to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item
attributable to the hedged risk are recognised in the statement of comprehensive income relating to the hedged item.
Hedge accounting is discontinued when the Group revokes the hedging relationship, when the hedging instrument
expires or is sold, terminated, or exercised, or when it no longer qualifies for hedge accounting. The fair value
adjustment to the carrying amount of the hedged item arising from the hedged risk is amortised to profit or loss from
that date.
• Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges
is recognised in other comprehensive income. The gain or loss relating to the ineffective portion is recognised
immediately in profit or loss.
Subsequently, the cumulative gain or loss recognised in other comprehensive income is reclassified from equity into
profit or loss in the same period or periods during which the hedged forecast cash flows affect profit or loss. If the
hedge item is a non-financial asset or liability, the associated gain or loss recognised in other comprehensive income
is removed from equity and included in the initial amount of the asset or liability. However, loss recognised in other
comprehensive income that will not be recovered in one or more future periods is reclassified from equity into profit
or loss.
Hedge accounting is discontinued prospectively when the Group revokes the hedging relationship, when the hedging
instrument expires or is sold, terminated, or exercised, or it no longer qualifies for hedge accounting. Any gain or
loss accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimately
recognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated
in equity is recognised immediately in profit or loss.
• Hedges of net instruments in foreign operations
Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or loss
on the hedging instrument relating to the effective portion of the hedge is recognised in other comprehensive income
and accumulated in the foreign currency translation reserve. The gain or loss relating to the ineffective portion is
recognised immediately in profit or loss.
The cumulative gain or loss recognised in other comprehensive income is reclassified from equity into profit or loss
on the disposal of the foreign operation.
2010
annual report 103

(f) Investment in Subsidiaries
Investment in subsidiaries are stated at cost in the statement of financial position of the Company, and are reviewed for
impairment at the end of the reporting period if events or changes in circumstances indicate that the carrying values may not
be recoverable.
On the disposal of the investment in a subsidiary, the difference between the net disposal proceeds and the carrying amount
of the investment is recognised in profit or loss.
(g) Investment in an Associate
An associate is an entity in which the Group has a long-term equity interest and where it exercises significant influence over
the financial and operating policies.
The investment in an associate is accounted for under the equity method, based on the financial statements of the associate made
up to 31 December 2010. The Group's share of the post acquisition profits of the associate is included in the consolidated
statement of comprehensive income and the Group's interest in the associate is carried in the consolidated statement of financial
position at cost plus the Group's share of the post-acquisition retained profits and other reserves.
Unrealised gains on transactions between the Group and the associate are eliminated to the extent of the Group's interest in
the associate. Unrealised losses are eliminated unless cost cannot be recovered.
(h) Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation or amortisation and impairment losses, if any.
Depreciation or amortisation is calculated under the straight-line method to write off the depreciable amount of the assets over
their estimated useful lives. Depreciation of an asset does not cease when the asset becomes idle or is retired from active use
unless the asset is fully depreciated. The principal annual rates used for this purpose are:
Vessels 4% – 7%
Vessel equipment 4% – 10%
Dry docking 20%
Leasehold buildings 2%
Plant and machinery 10%
Cabin, field and workshop equipment 10% – 20%
Motor vehicles 20%
Office equipment, furniture and fittings 10% – 20%
Others 10% – 50%

(h) Property, Plant and Equipment (Cont’d)
Capital work-in-progress is not depreciated.
Capital work-in-progress represents assets under construction, and which are not ready for commercial use at the end of
reporting period. Capital work-in-progress is stated at cost, and is transferred to the relevant category of assets and depreciated
accordingly when the assets are completed and ready for commercial use. Cost of capital work-in-progress includes direct costs,
related expenditure and interest cost on borrowings taken to finance the construction or acquisition of the assets to the date that
the assets are completed and put into use.
Dry docking costs are in respect of the cost of major repairs and modifications incurred on the vessels which enhance the useful
lives of the vessels.
The depreciation method, useful life and residual values are reviewed, and adjusted if appropriate, at the end of each reporting
period to ensure that the amount, method and period of depreciation are consistent with previous estimates and the expected
pattern of consumption of the future economic benefits embodied in the items of the property, plant and equipment.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when the
cost is incurred and it is probable that the future economic benefits associated with the asset will flow to the Group and the cost
of the asset can be measured reliably. The carrying amount of parts that are replaced is derecognised. The costs of the day-
to-day servicing of equipment are recognised in profit or loss as incurred. Cost also comprises the initial estimate of dismantling
and removing the asset and restoring the site on which it is located for which the Group is obligated to incur when the asset is
acquired, if applicable.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected
from its use. Any gain or loss arising from derecognition of the asset is included in the profit or loss in the year the asset
is derecognised.
(i) Impairment
(i) Impairment of Financial Assets
All financial assets (other than those categorised at fair value through profit or loss), are assessed at the end of each
reporting period whether there is any objective evidence of impairment as a result of one or more events having an impact
on the estimated future cash flows of the asset. For an equity instrument, a significant or prolonged decline in the fair value
below its cost is considered to be objective evidence of impairment.
An impairment loss in respect of held-to-maturity investments and loans and receivables financial assets is recognised in
profit or loss and is measured as the difference between the asset’s carrying amount and the present value of estimated
future cash flows, discounted at the financial asset’s original effective interest rate.
An impairment loss in respect of available-for-sale financial assets is recognised in profit or loss and is measured as the
difference between its cost (net of any principal payment and amortisation) and its current fair value, less any impairment
loss previously recognised in the fair value reserve. In addition, the cumulative loss recognised in other comprehensive
income and accumulated in equity under fair value reserve, is reclassified from equity to profit or loss.
With the exception of available-for-sale equity instruments, if, in a subsequent period, the amount of the impairment loss
decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the
previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the
investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the
impairment not been recognised. In respect of available-for-sale equity instruments, impairment losses previously
recognised in profit or loss are not reversed through profit or loss. Any increase in fair value subsequent to an impairment
loss made is recognised in other comprehensive income.
2010
annual report 105

(i) Impairment (Cont’d)
(ii) Impairment of Non-Financial Assets
The carrying values of assets, other than those to which FRS 136 – Impairment of Assets does not apply, are reviewed at
the end of each reporting period for impairment when there is an indication that the assets might be impaired. Impairment
is measured by comparing the carrying values of the assets with their recoverable amounts. The recoverable amount of
the assets is the higher of the assets' fair value less costs to sell and their value-in-use, which is measured by reference to
discounted future cash flow.
An impairment loss is recognised in profit or loss immediately.
In respect of assets other than goodwill, and when there is a change in the estimates used to determine the recoverable
amount, a subsequent increase in the recoverable amount of an asset is treated as a reversal of the previous
impairment loss and is recognised to the extent of the carrying amount of the asset that would have been determined
(net of amortisation and depreciation) had no impairment loss been recognised. The reversal is recognised in profit
or loss immediately.
(j) Operating Leases
Leases of assets where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as
operating leases. Payments made under the operating leases (net of any incentives received from the lessor, if any) are
recognised in profit or loss on the straight-line method over the lease period. When an operating lease is terminated before
the lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expense
in the period in which termination takes place.
(k) Assets under Hire Purchase
Assets acquired under hire purchase are capitalised in the financial statements and are depreciated in accordance with the
policy set out in Note 4(h) above. Each hire purchase payment is allocated between the liability and finance charges so as to
achieve a constant rate on the finance balance outstanding. Finance charges are recognised in profit or loss over the period
of the respective hire purchase agreements.
(l) Inventories
Inventories are stated at the lower of cost and net realisable value. Cost is determined on the first-in-first-out basis, and comprises
the purchase price and incidentals incurred in bringing the inventories to their present location and condition.
Net realisable value represents the estimated selling price less the estimated costs of completion and the estimated costs
necessary to make the sale.
Where necessary, due allowance is made for all obsolete, damaged and slow-moving items.
(m) Amounts Owing By/To Contract Customers
The amounts owing by/to contract customers are stated at cost plus profits attributable to contracts in progress less progress
billings and allowance for foreseeable losses, if any. Cost includes direct materials, labour and applicable overheads.

(n) Provisions
Provisions are recognised when the Group has a present obligation as a result of past events, when it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of the
amount can be made. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best
estimate. Where the effect of the time value of money is material, the provision is the present value of the estimated expenditure
required to settle the obligation.
(o) Income Taxes
Income tax for the year comprises current and deferred tax.
Current tax is the expected amount of income taxes payable in respect of the taxable profit for the year and is measured using
the tax rates that have been enacted or substantively enacted at the end of the reporting period.
Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the financial statements.
Deferred tax liabilities are recognised for all taxable temporary differences other than those that arise from goodwill or excess
of the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over the
business combination costs or from the initial recognition of an asset or liability in a transaction which is not a business
combination and at the time of the transaction, affects neither accounting profit nor taxable profit.
Deferred tax assets are recognised for all deductible temporary differences, unused tax losses and unused tax credits to the
extent that it is probable that future taxable profits will be available against which the deductible temporary differences, unused
tax losses and unused tax credits can be utilised. The carrying amounts of deferred tax assets are reviewed at the end of each
reporting period and reduced to the extent that it is no longer probable that sufficient future taxable profits will be available to
allow all or part of the deferred tax assets to be utilised.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is
realised or the liability is settled, based on the tax rates that have been enacted or substantively enacted at the end of the
reporting period.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current
tax liabilities and when the deferred income taxes relate to the same taxation authority.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are
recognised in correlation to the underlying transactions either in other comprehensive income or directly in equity and deferred
tax arising from a business combination is included in the resulting goodwill or excess of the acquirer’s interest in the net fair
value of the acquiree’s identifiable assets, liabilities and contingent liabilities over the business combination costs.
(p) Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand, bank balances, demand deposits, bank overdrafts and short-term,
highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value. For the purpose of the statements of cash flows, cash and cash equivalents are presented net of
pledged deposits.
2010
annual report 107

(q) Employee Benefits
(i) Short-term Benefits
Wages, salaries, paid annual leave and sick leave, bonuses and non-monetary benefits are accrued in the period in
which the associated services are rendered by employees of the Group.
(ii) Defined Contribution Plans
The Group’s contributions to defined contribution plans are recognised in profit or loss in the period to which they relate.
Once the contributions have been paid, the Group has no further liability in respect of the defined contribution plans.
(r) Borrowing Costs
Borrowing costs, directly attributable to the acquisition and construction of property, plant and equipment are capitalised as
part of the cost of those assets, until such time as the assets are ready for their intended use or sale. Capitalisation of borrowing
costs is suspended during extended periods in which active development is interrupted.
All other borrowing costs are recognised in profit or loss as expenses in the period in which they incurred.
(s) Contingent Liabilities
A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by the
occurrence of one or more uncertain future events not wholly within the control of the Group. It can also be a present obligation
arising from past events that is not recognised because it is not probable that an outflow of economic resources will be required
or the amount of obligation cannot be measured reliably.
A contingent liability is not recognised but is disclosed in the notes to the financial statements. When a change in the probability
of an outflow occurs so that the outflow is probable, it will then be recognised as a liability/provision.
(t) Related Parties
A party is related to an entity if:
(i) directly, or indirectly through one or more intermediaries, the party:

• controls, is controlled by, or is under common control with, the entity (this includes parents, subsidiaries and fellow
subsidiaries);
• has an interest in the entity that gives it significant influence over the entity; or
• has joint control over the entity;
(ii) the party is an associate of the entity;
(iii) the party is a joint venture in which the entity is a venturer;
(iv) the party is a member of the key management personnel of the entity or its parent;
(v) the party is a close member of the family of any individual referred to in (i) or (iv);
(vi) the party is an entity that is controlled, jointly controlled or significantly influenced by, or for which significant voting
power in such entity resides with, directly or indirectly, any individual referred to in (iv) or (v); or
(vii) the party is a post-employment benefit plan for the benefit of employees of the entity, or of any entity that is a related party
of the entity.
Close members of the family of an individual are those family members who may be expected to influence, or be influenced
by, that individual in their dealings with the entity.

(u) Operating Segments
An operating segment is a component of the Group that engages in business activities from which it may earn revenues and
incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. An
operating segment’s operating results are reviewed regularly by the chief operating decision maker to make decisions about
resources to be allocated to the segment and assess its performance, and for which discrete financial information is available.
(v) Revenue Recognition
(i) Chartered Vessel Income
Chartered vessel income is recognised upon rendering of services and when the outcome of the transaction can be
estimated reliably. In the event the outcome of the transaction could not be estimated reliably, revenue is recognised to the
extent of the expenses incurred that are recoverable.
(ii) Contract Revenue
Revenue on contracts is recognised on the percentage of completion method unless the outcome of the contract cannot be
reliably determined, in which case revenue on contracts is only recognised to the extent of contract costs incurred that are
recoverable. Foreseeable losses, if any, are provided for in full as and when it can be reasonably ascertained that the
contract will result in a loss.
The stage of completion is determined based on the proportion that the contract costs incurred for work performed to date
bear to the estimated total contract costs.
(iii) Dividend income
Dividend income from investment is recognised when the right to receive dividend payment is established.
(iv) Management Fee
Management fee is recognised on an accrual basis.
(v) Rental Income
Rental income is recognised on an accrual basis.
(vi) Interest Income
Interest income is recognised on an accrual basis, based on the effective yield on the investment. Interest income on late
payment is recognised on a receipt basis.
2010
annual report 109

5. INVESTMENT IN SUBSIDIARIES
The Company
2010 2009
RM'000 RM'000
Unquoted shares, at cost:
– in Malaysia 285,574 285,519
– outside Malaysia 21,897 21,897
307,471 307,416
Less: Impairment loss (10) (10)
307,461 307,406
The details of the subsidiaries are as follows:
Country of Effective Equity Interest

Name of Company incorporation 2010 2009 Principal Activities
% %
Intra Oil Services Berhad Malaysia 100 100 Provision of marine support
services for the oil and
gas industry.
Ampangship Marine Sdn. Bhd. Malaysia 100 100 Provision of marine support
services for the oil and
gas industry.
Perdana Marine The Republic 100 100 Provision of marine support

Offshore Pte. Ltd.* of Singapore services for the oil and
gas industry.
Petra Offshore Limited Federal Territory 100 100 Provision of leasing business
of Labuan activities in Labuan.
Perdana Mercury Limited The Republic of the 100 100 Provision of marine support
Marshall Islands services for the oil and
gas industry.
Perdana Venus Limited The Republic of the 100 100 Provision of marine support
Marshall Islands services for the oil and
gas industry.
Petra Marine Australia The Commonwealth 55 55 Provision of marine support

Pty. Ltd. of Australia services for the oil and
gas industry.

5. INVESTMENT IN SUBSIDIARIES (CONT’D)

% %
Perdana Jupiter Limited Federal Territory of Labuan 100 100 Provision of leasing business
activities in Labuan.
Odin Explorer The British Virgin Islands 100 100 Dormant.

Navigation Limited
Geoseas Technologies The British Virgin Islands 51 51 Dormant.

Limited
Petra Teknik Sdn. Bhd. Malaysia 100 100 Dormant.
Petra Asia Limited Federal Territory 100 100 Dormant.

of Labuan
Perdana Neptune Limited Federal Territory 100 100 Dormant.

of Labuan
Perdana Pluto Limited* Federal Territory 100 100 Dormant.

of Labuan
Perdana Saturn Limited* Federal Territory 100 100 Dormant.

of Labuan
Perdana Nautika Sdn. Bhd. Malaysia 55 – Dormant.
Interest held through Intra Oil Services Berhad
Osam Marine Sdn. Bhd. Malaysia 100 100 Dormant.
Asiaway Sdn. Bhd. Malaysia 100 100 Dormant.
Interest held through Osam Marine Sdn. Bhd.
Malawi Marine Sdn. Bhd. Malaysia 100 100 Dormant.
Kovan Marine Sdn. Bhd. Malaysia 100 100 Dormant.
* Not audited by Messrs. Crowe Horwath.
During the financial year, the Company incorporated a new subsidiary of which the details are disclosed in Note 34 to the
financial statements.
In the previous financial year:
(a) the Company acquired four (4) newly incorporated subsidiaries of which the details are disclosed in Note 34 to the financial
statements; and
(b) the Company disposed of its shareholding in Petra Energy Berhad (“PEB”) which resulted the Company’s shareholding being
reduced from 60% to 29.59%. The details of the disposal are disclosed in Note 6 and Note 35 to the financial statements.
2010
annual report 111

6. INVESTMENT IN AN ASSOCIATE

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Quoted shares in Malaysia, at cost 19,233 19,233 19,233 19,233
Share of post acquisition profits 68,702 71,086 – –
Share of associate’s financial effects in

adopting FRS 139 485 – – –
88,420 90,319 19,233 19,233
Market value of quoted shares 89,435 95,205 89,435 95,205
Share of results in an associate is based on the unaudited financial statements of the associate.
The details of the associate are as follows:

% %
Petra Energy Berhad Malaysia 29.59 29.59 Investment holding.
On 10 September 2009, the Company disposed of 10.5 million ordinary shares of RM0.50 each in Petra Energy Berhad (“PEB”)
at a price of RM1.53 per share via a private placement for a sale consideration of approximately RM16.1 million, resulting in a loss
on disposal of approximately RM0.6 million to the Group. After the disposal, the Company’s equity interest in PEB reduced from 60%
to 54.62%.

6. INVESTMENT IN AN ASSOCIATE (CONT’D)
On 11 December 2009, the Company further disposed of 48.8 million ordinary shares of RM0.50 each in PEB at a price of RM1.91
per share for a sale consideration of approximately RM93.2 million, resulting in a gain on disposal of approximately RM13.3
million to the Group. After the disposal, the Company’s equity interest in PEB further reduced from 54.62% to 29.59%. As a result,
PEB became an associate of the Group and of the Company.
The summarised unaudited financial information of the associate is as follows:
2010 2009
RM'000 RM'000
Assets and liabilities

Non-current assets 354,225 369,073
Current assets 355,581 344,327
Total assets 709,806 713,400
Current liabilities 265,530 271,344

Non-current liabilities 137,263 136,423
Total liabilities 402,793 407,767
Results
Revenue 633,935 504,141
Net profit for the financial year 2,681 15,482
2010
annual report 113

7. PROPERTY, PLANT AND EQUIPMENT
Currency
At Written Translation Depreciation Impairment At
1.1.2010 Additions Disposals Off Cancellation Transfers Difference Charge Loss 31.12.2010
RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM’000 RM’000 RM’000 RM’000
The Group
Net Book Value
Vessels 220,995 3,151 (138,510) – – 200,785 (13,847) (19,144) – 253,430

Vessel equipment 12,230 3,794 – – – 10,795 (1,961) (2,173) – 22,685
Dry docking 38,615 6,757 – – – – (3,583) (13,598) (2,982) 25,209
Leasehold buildings 1,702 – – – – – – (37) – 1,665
Cabin, field and workshop
equipment 112 – – (9) – – – (18) – 85
Motor vehicles 113 430 – – – – (2) (76) – 465
Office equipment, furniture
and fittings 2,835 306 (5) – – – (3) (733) – 2,400
Capital work-in-progress 183,094 176,621 (8,256) – (30,385) (211,580) (15,333) – – 94,161
Others 1,002 286 – – – – (6) (448) – 834
460,698 191,345 (146,771) (9) (30,385) – (34,735) (36,227) (2,982) 400,934
Disposal Of Reclassified
Interest In Acquisition Non-Current Currency
At A Subsidiary Of A Asset Held For Translation Depreciation At
1.1.2009 Additions Disposals Transfers (Note 35) Subsidiary Sale (Note 17) Difference Charge 31.12.2009
RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
The Group
Net Book Value
Vessels 303,632 124,234 (318,351) 452,921 (228,928) – (86,361) (1,717) (24,435) 220,995
Vessel equipment 11,325 4,521 (2,486) – – – – (240) (890) 12,230
Dry docking 29,622 38,687 – – (14,598) – – (727) (14,369) 38,615
Leasehold buildings 6,362 – – – (4,485) – – – (175) 1,702
Plant and machinery 3,495 101 (10) – (2,827) – – – (759) –
Cabin, field and workshop
equipment 8,393 3,417 – – (6,212) – – 16 (5,502) 112
Motor vehicles 1,650 132 – – (1,124) 31 – 2 (578) 113
Office equipment, furniture
and fittings 1,367 2,941 (14) – (964) 300 – 4 (799) 2,835
Capital work-in-progress 289,899 354,755 – (452,921) – – – (8,639) – 183,094
Others 3,323 617 (116) – (1,591) 214 – 4 (1,449) 1,002
659,068 529,405 (320,977) – (260,729) 545 (86,361) (11,297) (48,956) 460,698


7. PROPERTY, PLANT AND EQUIPMENT (CONT’D)
At Accumulated Impairment Net Book

Cost Depreciation Loss Value
The Group RM'000 RM'000 RM’000 RM'000
At 31.12.2010
Vessels 337,729 (84,299) – 253,430

Vessel equipment 25,833 (3,148) – 22,685
Dry docking 64,416 (36,225) (2,982) 25,209
Leasehold buildings 1,860 (195) – 1,665
Plant and machinery 10 (10) – –
Cabin, field and workshop equipment 148 (63) – 85
Motor vehicles 745 (280) – 465
Office equipment, furniture and fittings 4,161 (1,761) – 2,400
Capital work-in-progress 94,161 – – 94,161
Others 3,215 (2,381) – 834
532,278 (128,362) (2,982) 400,934
At 31.12.2009
Vessels 292,299 (71,304) – 220,995

Vessel equipment 13,379 (1,149) – 12,230
Dry docking 67,625 (29,010) – 38,615
Leasehold buildings 1,860 (158) – 1,702
Plant and machinery 10 (10) – –
Cabin, field and workshop equipment 159 (47) – 112
Motor vehicles 318 (205) – 113
Office equipment, furniture and fittings 3,872 (1,037) – 2,835
Capital work-in-progress 183,094 – – 183,094
Others 2,942 (1,940) – 1,002
565,558 (104,860) – 460,698

2010
annual report 115

At Depreciation At
1.1.2010 Additions Disposal Charge 31.12.2010
RM'000 RM'000 RM'000 RM'000 RM'000
The Company
Net Book Value
Leasehold buildings 1,702 – – (37) 1,665

Motor vehicle – 430 – (50) 380
Office equipment, furniture and fittings 188 76 – (83) 181
Capital work-in-progress 6,045 6,228 (8,409) – 3,864
Others 602 104 – (275) 431
8,537 6,838 (8,409) (445) 6,521
At Depreciation At
1.1.2009 Additions Transfers Charge 31.12.2009
RM'000 RM'000 RM'000 RM'000 RM'000
Net Book Value
Leasehold buildings 1,739 – – (37) 1,702

Office equipment, furniture and fittings 267 6 – (85) 188
Capital work-in-progress 40,141 2,873 (36,969) – 6,045
Others 894 10 1 (303) 602
43,041 2,889 (36,968) (425) 8,537
At Accumulated Net Book

Cost Depreciation Value
RM'000 RM'000 RM'000
At 31.12.2010
Leasehold buildings 1,860 (195) 1,665

Motor vehicle 430 (50) 380
Office equipment, furniture and fittings 554 (373) 181
Capital work-in-progress 3,864 – 3,864
Others 1,755 (1,324) 431
8,463 (1,942) 6,521
The Company
At 31.12.2009
Leasehold buildings 1,860 (158) 1,702

Office equipment, furniture and fittings 478 (290) 188
Capital work-in-progress 6,045 – 6,045
Others 1,651 (1,049) 602
10,034 (1,497) 8,537


Capital work-in-progress are in respect of vessels under construction and cranes not ready for commercial use at the end of the
reporting period.
During the financial year, the Group cancelled a vessel under construction amounting to RM30,385,261.
Included in the net book value of property, plant and equipment at the end of the reporting period are the following assets acquired
under hire purchase terms:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Motor vehicles 465 113 380 –
Included in capital work-in-progress is interest expense capitalised during the financial year of RM658,160 (2009 – RM4,738,997).
The net book value of property, plant and equipment at the end of the reporting period pledged as security for the issuance of bonds
and medium term notes by the Group was as follows:
The Group
2010 2009
RM'000 RM'000
Vessels, including dry docking expenses capitalised 167,423 208,580

2010
annual report 117

8. AMOUNTS OWING BY/(TO) SUBSIDIARIES
The Company
2010 2009
Note RM’000 RM’000
Amount owing by:
Non-current
Quasi loan (a) 400,949 353,576
Current
Non-trade (b) 4,333 4,084
Allowance for impairment losses:
– at 1 January (4,057) (5,001)
– addition (5) –
– write-back – 944
– at 31 December (4,062) (4,057)
271 27
401,220 353,603
Amount owing to:

Current
Non-trade (b) (123,839) (95,862)
(a) The settlement of the non-current amount owing by subsidiaries is neither planned nor likely to occur in the foreseeable future.
As this amount is, in substance, a part of the Company’s net investment in the subsidiaries, it is stated at cost less impairment
losses, if any.
(b) The amounts owing by/(to) the subsidiaries are non–trade in nature, interest-free, unsecured and repayable on demand. The
amounts are to be settled in cash.
9. REFUNDABLE DEPOSITS
The deposits are placed with vessel owners for the long lease of vessels for periods ranging from five (5) to ten (10) years.
Upon adoption of FRS 139 during the financial year, the Group designated its non-current refundable deposits as loans and
receivables financial assets, measured at amortised cost using the effective interest method. The financial effect on the adoption of
this new accounting standard is disclosed in Note 3(a)(iii) to the financial statements.

10. INTANGIBLE ASSETS
The Group
2010 2009
RM'000 RM'000
Goodwill:
At 1 January 27,507 27,507
Acquisition of additional interest in a subsidiary – 1,434
Disposal of interest in a subsidiary (Note 35) – (1,434)
At 31 December 27,507 27,507
Goodwill has been allocated for impairment testing to the Group’s cash-generating unit (“CGU”).
At the end of the reporting period, the Group assessed the recoverable amount of the goodwill and determined that the goodwill
was not impaired.
The recoverable amount of a CGU is determined based on the value-in-use calculations. These calculations use post-tax cash flow
projections based on financial budgets approved by management covering a period of five (5) years.
The key assumptions used for the value-in-use calculations are as follows:
2010 2009
Gross margin 6% – 44% 8% – 50%

Growth rate 1% 1% – 5%
Discount rate 11% 11%
Management determined the budgeted gross margin based on past performance and its expectations of market development. The
growth rate used is based on the past years’ achievement and the expected contracts to be secured. The discount rates used are pre-
tax and reflect specific risks relating to the relevant segments.
2010
annual report 119

11. DEFERRED TAX ASSETS

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
At 1 January 46 62 46 46
Disposal of interest in a
subsidiary (Note 35) – (16) – –
At 31 December 46 46 46 46
The deferred tax assets comprise:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Excess of depreciation over

capital allowances 46 46 46 46
12. INVENTORIES
The Group
2010 2009
RM'000 RM'000
Consumables, at cost 6,908 5,533
Inventories represent fuel, various oils, spare parts and calling cards. None of the inventories is carried at net realisable value.

13. RECEIVABLES

2010 2009 2010 2009
Note RM’000 RM’000 RM’000 RM’000
Trade receivables 46,316 247,010 – –

Allowance for
impairment losses:
– at 1 January (297) (9,770) – –
– write-back – 555 – –
– disposal of interest in
a subsidiary 35 – 8,918 – –
– at 31 December (297) (297) – –
46,019 246,713 – –
Disposal of interest in
a subsidiary 35 – (200,444) – –
Net trade receivables 46,019 46,269 – –
Other receivables,
deposits and
prepayments 55,166 129,066 1,740 15,104
Allowance for
impairment losses:
– at 1 January (1,572) (1,826) – –
– addition (320) – – –
– disposal of interest in
a subsidiary 35 – 254 – –
– at 31 December (1,892) (1,572) – –
53,274 127,494 – –
Disposal of interest in
a subsidiary 35 – (75,936) – –
Net other receivables,

deposits and prepayments 53,274 51,558 1,740 15,104
99,293 97,827 1,740 15,104
The Group’s normal trade credit terms range from 30 to 90 days. Other credit terms are assessed and approved on a case-by-
case basis.
2010
annual report 121

14. AMOUNTS OWING BY/(TO) RELATED PARTIES

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Amount owing by:

Trade balance 30,798 29,887 – –
– at 1 January – – – –
– addition (1,899) – – –
– at 31 December (1,899) – – –
28,899 29,887 – –
Non-trade balance 10,516 8,307 259 259

– at 1 January – – – –
– addition (2,801) – – –
– at 31 December (2,801) – – –
7,715 8,307 259 259
36,614 38,194 259 259
Amount owing to:

Non-trade balance (33) (236) (32) (3)
The normal credit terms for trade amounts range from 60 to 90 days.
The non-trade amounts are unsecured, interest-free and repayable on demand. The amounts owing are to be settled in cash.

15. AMOUNTS OWING BY/(TO) AN ASSOCIATE

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Amount owing by:

Current – 51,649 – 51,649
Amount owing to:

Current – (1,975) – (1,975)
In the previous financial year, the amount owing by the associate was non-trade in nature, unsecured and subject to an interest rate
of 7.5% (2009 - 7.5%) per annum. The amount owing has been fully settled during the financial year.
In the previous financial year, the amount owing to the associate was non-trade in nature, unsecured and interest-free. The amount
has been fully settled during the financial year.
16. FIXED DEPOSITS WITH LICENSED BANKS
The fixed deposits pledged to banks for banking facilities granted to the Group are as follows:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Fixed deposits pledged as security (Note 37) 31,538 144,306 29,060 144,306
The effective interest rates of the fixed deposits at the end of the reporting period were as follows:

2010 2009 2010 2009
% % % %
Fixed deposits with licensed banks 0.02 to 2.75 0.47 to 2.25 1.35 to 2.75 1.35 to 2.25
The fixed deposits have maturity periods ranging from 1 day to 182 days (2009 – 1 day to 182 days).
2010
annual report 123

17. NON-CURRENT ASSET CLASSIFIED AS HELD FOR SALE
The Group
2010 2009
RM'000 RM'000
Reclassified from property, plant and equipment:

A vessel, at cost – 86,361
The sale of the vessel was completed during the financial year.
Included in vessel cost in the previous financial year was interest expense capitalised amounting to RM425,286.
18. SHARE CAPITAL
The Group/The Company

2010 2009 2010 2009
Number Of Shares (‘000) RM'000 RM'000
Ordinary Shares Of
RM0.50 Each:
Authorised 1,000,000 1,000,000 500,000 500,000
Issued And Fully Paid-Up

At 1 January 297,600 297,600 148,800 148,800
Private placement 29,760 – 14,880 –
Rights issue 122,760 – 61,380 –
At 31 December 450,120 297,600 225,060 148,800
During the financial year, the Company increased its issued and paid–up share capital from RM148,800,000 to
RM225,060,000 by:
(i) an issuance of 29,760,000 new ordinary shares of RM0.50 each for cash for the purpose of payment of charter deposits and
working capital use pursuant to the Company’s private placement at a subscription price of RM1.32 per share on 30 June 2010.
The new shares were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 2 July
2010; and
(ii) an issuance of 122,760,000 new ordinary shares of RM0.50 each for cash for the purpose of repayment of borrowings and
working capital use pursuant to the Company’s renounceable rights issue with free detachable warrants (“Rights Issue”) on the
basis of three (3) rights shares (“Rights Shares”) for every eight (8) existing ordinary shares of RM0.50 each held in the
Company together with 61,379,785 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every two (2)
Rights Shares subscribed at an issue price of RM0.59 per Right Share on 27 October 2010. The new shares were listed and
quoted on the Main Market of Bursa Securities on 1 November 2010.
The new ordinary shares issued during the financial year ranked pari passu in all respect with the existing ordinary shares of
the Company.

19. RESERVES

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Non-distributable:
Share premium 82,892 60,377 82,892 60,377
Warrant reserve (Note 20) 11,048 – 11,048 –
Capital redemption reserve – 2,127 – –
Translation reserve (56,579) 56 – –
Cash flow hedge reserve (1,311) – – –
Other capital reserve 2,127 – – –
38,177 62,560 93,940 60,377
Distributable:
Retained profits 240,798 352,309 138,116 159,377
278,975 414,869 232,056 219,754
(a) Share Premium
The share premium is not distributable by way of cash dividends and may be utilised in the manner set out in Section 60(3) of
the Companies Act 1965.
(b) Cash Flow Hedge Reserve
This reserve comprises the effective portion of the cumulative gains and losses on the hedging instrument deemed effective in
a cash flow hedge.
The Group
2010 2009
RM'000 RM'000
At 1 January – –
Loss on cash flow hedge (3,070) –
Reclassify to profit or loss-other expenses 1,759 –
At 31 December (1,311) –
2010
annual report 125

19. RESERVES (CONT’D)
(c) Retained Profits
Subject to the agreement of the tax authorities, at the end of the reporting period, the Company has:
(a) tax-exempt income of approximately RM88,260,517 (2009 – RM48,063,055) available for the purpose of paying tax-
exempt dividends; and
(b) tax credits under Section 108 of the Income Tax Act 1967 to frank the payment of dividends of approximately
RM27,096,000 (2009 – RM31,560,000) out of its retained profits.
At the end of the reporting period, the Company has not elected for the single tier tax system. When the tax credit balance
is fully utilised, or by 31 December 2013 at the latest, the Company will automatically move to the single tier tax system.
Under the single tier tax system, tax on the Company’s profits is a final tax, and dividends distributed to the shareholders
will be exempted from tax.
(d) Capital Redemption Reserve
This reserve represents the redemption of the redeemable non-cumulative non-voting preference shares by a subsidiary
incorporated in the Federal Territory of Labuan.
Following the amendment to the Labuan Companies Act 1990 of not having par value shares and no minimum share capital
requirements during the financial year, this reserve has been reclassified to other capital reserve.
20. WARRANT RESERVE
During the financial year, the Company issued 61,379,785 free Warrants pursuant to the Rights Issue as disclosed in Note 18(ii) to
the financial statements. Pursuant to FRSIC Consensus 9 - Accounting for Rights Issue with Free Warrants, the proceeds from the Rights
Issues (net of issue costs) have been allocated between the new ordinary shares issued and the Warrants based on their fair values
at the date of issue.
The salient terms of the Warrants 2010/2015 are as follows:
(a) Each Warrant entitles the registered holder to subscribe for one (1) new ordinary share of RM0.50 each in the Company at
any time on or before the maturity date, 26 October 2015, falling five (5) years from the date of issue of the Warrants.
Unexercised Warrants after the exercise period will thereafter lapse and cease to be valid;
(b) The exercise price of the Warrants is fixed at RM1.00 per Warrant;
(c) The new ordinary shares to be issued upon the exercise of the Warrants shall rank pari passu in all respects with the existing
ordinary shares of the Company; and
(d) The Warrants were listed and quoted on the Main Market of Bursa Securities on 1 November 2010.
The movements of the Warrants during the financial year are as follows:
Entitlement For Ordinary Shares Of RM0.50 Each

Issued On At
27.10.2010 Exercised Cancelled 31.12.2010
Number of unexercised Warrants 61,379,785 – – 61,379,785


21. DEFERRED TAXATION
The Group
2010 2009
RM'000 RM'000
At 1 January 2,060 30,908

Translation differences (2) 14
Recognised in profit or loss (Note 31) 1,990 (1,017)
Acquisition of additional interest in a subsidiary – 40
Disposal of interest in a subsidiary (Note 35) – (27,885)
At 31 December 4,048 2,060
The deferred tax liability is attributable to the following:
The Group
2010 2009
RM'000 RM'000
Excess of capital allowances over depreciation 4,048 2,060
22. LONG–TERM BORROWINGS

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Hire purchase payables (Note 23) 348 63 305 –

Term loans (Note 24) 145,740 227,000 104,803 227,000
146,088 227,063 105,108 227,000
23. HIRE PURCHASE PAYABLES

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Minimum hire purchase payments:

– not later than one year 98 22 77 –
– later than one year and
not later than five years 357 73 307 –
– later than five years 38 – 38 –
493 95 422 –
Less: Future finance charges (69) (13) (59) –
Present value of hire purchase payables 424 82 363 –

2010
annual report 127

23. HIRE PURCHASE PAYABLES (CONT’D)
The net hire purchase payables are repayable as follows:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Current:
– not later than one year (Note 27) 76 19 58 –
Non-current:
– later than one year and
not later than five years 311 63 268 –
– later than five years 37 – 37 –
Total non-current portion (Note 22) 348 63 305 –
424 82 363 –
The hire purchase payables at the end of the reporting date bore effective interest rates ranging from 3.99% to 5.64% (2009 – 2.42%)
per annum.
24. TERM LOANS

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Current portion:
– repayable within one year (Note 27) 98,732 218,000 95,020 218,000
Non-current portion:
– repayable between one to two years 79,800 177,000 69,933 177,000
– repayable between two to five years 65,940 50,000 34,870 50,000
Total non-current portion (Note 22) 145,740 227,000 104,803 227,000
244,472 445,000 199,823 445,000


24. TERM LOANS (CONT’D)
(a) Secured Serial Bonds
On 30 March 2006, the Company issued RM400,000,000 nominal value secured serial bonds ("Bonds"). The Bonds were
issued in nine (9) series, as follows:
Coupon Rate
Series Nominal Value Maturity Date Per Annum
RM'000
A 120,000 30 March 2009 6.24%

B 35,000 30 September 2009 5.75%
C 35,000 30 March 2010 5.90%
D 35,000 30 September 2010 6.10%
E 35,000 30 March 2011 6.30%
F 35,000 30 September 2011 6.55%
G 35,000 30 March 2012 6.65%
H 35,000 28 September 2012 6.75%
I 35,000 29 March 2013 6.85%
The coupon payment is due semi-annually in arrears.
(b) Medium Term Notes
On 3 November 2006, the Company issued RM50,000,000 nominal value medium term notes ("MTN"). The issuance of MTN
was made in four (4) series, as follows:
Coupon Rate
Series Nominal Value Maturity Date Per Annum
RM’000
A 15,000 3 May 2010 5.75%

B 10,000 3 November 2010 5.90%
C 15,000 3 May 2011 6.10%
D 10,000 3 November 2011 6.30%
The coupon payment is due semi-annually in arrears.

2010
annual report 129

24. TERM LOANS (CONT’D)
Both the Bonds and MTN are secured by:
(i) a fixed charge over the shares of certain subsidiaries and an associate;
(ii) an assignment and charge over the revenue generated by certain vessels of the Group;
(iii) an assignment and charge over the insurance proceeds of certain vessels of the Group;
(iv) a fixed charge over certain vessels of the Group; and
(v) various undertakings by the Company.
(c) Syndicated Transferable Term Loan
On 27 February 2009 and 3 March 2009, the Company accepted a syndicated transferable term loan facilities of up to
RM150 million. The said loan is repayable as follows:
Coupon Rate
Facility Tranche Nominal Value Maturity Date Per Annum
RM’000
B 1 15,000 12 March 2010 ECOF+1.50%

B 2 15,000 12 March 2011 ECOF+1.75%
B 3 45,000 12 March 2012 ECOF+2.00%
B 4 60,000 12 March 2013 ECOF+2.25%
A 15,000 12 March 2013 ECOF+2.25%
Where ECOF is the respective Lenders’ prevailing one (1) month Effective Cost of Funds. The coupon payment is due monthly
in arrears.
The syndicated transferable term loans are secured by:
(i) an assignment of inter-company loans due to the Company by the associate;
(ii) a legal assignment of the Company’s rights over the net deposit refund under the charterer deposit agreement and
memorandum of agreement in relation to certain vessels;
(iii) a charge over the shares of the associate; and
(iv) a charge over an escrow account created for the purpose of setting aside an amount equivalent to at least one (1) month
interest and any amount received under the security.
The syndicated transferable term loans have been fully prepaid during the financial year.
(d) Commodity Murabahah Term Financing-i
On 18 March 2010, a subsidiary accepted a Commodity Murabahah Term Financing facility denominated in United States
Dollar (USD) with a nominal value of USD14,480,000 (equivalent to RM46,408,400).
This foreign currency term loan is being hedged by a cross-currency interest rate swap as disclosed in Note 25 to the financial
statements and is repayable by eighteen (18) quarterly installments ranging from RM961,500 to RM10,191,900, commencing
January 2011.
The effective interest rate of the foreign currency term loan at the end of the reporting period was 5.58% (2009 - nil) per annum.
The foreign currency term loan is secured by a corporate guarantee provided by the Company.

25. DERIVATIVE LIABILITY
During the financial year, the Group entered into a USD-MYR cross-currency interest rate swap to hedge the cash flow and interest
rate risks of its foreign currency floating rate term loan as mentioned in Note 24(d) to the financial statements. The cross-currency
interest rate swap has been designated as a cash flow hedge and was assessed to be highly effective.
The cross-currency interest rate swap is used to hedge the Group’s exposure to changes in the functional currency equivalent cash
flows and interest rate of the foreign currency term loan. This swap entitles the Group to receive USD LIBOR and USD equivalent of
the principal whereby the repayments are made in Ringgit Malaysia based on an agreed exchange rate of 3.205. The swap also
entitles the Group to receive a floating interest equal to a 3-month USD LIBOR+2.00% per annum and pays a 3-month KLIBOR+2.00%
per annum.
The swap has the same maturity terms as that of the foreign currency term loan.
26. PAYABLES

2010 2009 2010 2009
RM’000 RM’000 RM’000 RM’000
Trade payables 36,186 30,025 – –

Other payables and accruals:
– other payables 13,167 79,960 1,847 3,381
– accruals 17,372 15,299 6,933 5,611
– dividend payable 7 13 7 13
30,546 95,272 8,787 9,005
66,732 125,297 8,787 9,005
The payables are repayable as follows:

– non-current 260 241 214 201
– current 66,472 125,056 8,573 8,804
66,732 125,297 8,787 9,005
The normal trade credit terms granted to the Group range from 30 to 90 days.
27. SHORT-TERM BORROWINGS

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Hire purchase payables (Note 23) 76 19 58 –

Term loans (Note 24) 98,732 218,000 95,020 218,000
98,808 218,019 95,078 218,000

2010
annual report 131

28. NET ASSETS PER ORDINARY SHARE
The net assets per ordinary share is calculated based on the net assets value of RM504,035,000 (2009 – RM563,669,000) divided
by the number of ordinary shares in issue at the end of the reporting period of 450,120,000 (2009 – 297,600,000) shares.
29. REVENUE

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Chartered vessel income 254,887 540,148 – –

Contract revenue – 65,536 – –
Dividend income – – 11,523 46,209
Management fee – – – 1,620
Rental income – – 158 338
254,887 605,684 11,681 48,167


30. (LOSS)/PROFIT BEFORE TAXATION

2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
(Loss)/Profit before
taxation is arrived at after
charging/(crediting):
Audit fee:
– current financial year 239 338 116 56
– underprovision in the
previous financial year 6 13 – –
Allowance for impairment
loss on receivables/related
parties/subsidiaries 5,020 – 5 –
Amortisation of prepaid
lease payments – 118 – –
Depreciation of
property, plant and
equipment 7 36,227 48,956 445 425
Directors' remuneration:
– fees 38 371 216 371 177
– other emoluments 38 4,024 1,412 2,109 622
– retirement contributions 38 23 39 17 20
– benefits-in-kind 38 259 132 193 82
Hire of equipment 478 25,757 – –
Impairment loss on property,
plant and equipment 2,982 – – –
Impairment loss on refundable
deposits 9,380 – – –
Interest expense:
– bond and MTN 16,218 18,416 16,218 22,404
– hire purchase 15 34 11 –
– syndicated transferable term loan 2,894 6,688 1,751 6,691
– foreign currency term loan 1,837 – – –
– revolving credit 687 632 687 632
Inventories written off – 2 – –
Lease rental of vessels 102,247 61,986 – –
Loss/(Gain) on foreign exchange:
– realised 5,507 3,184 138 (309)
– unrealised (9,464) (399) – –
2010
annual report 133

30. (LOSS)/PROFIT BEFORE TAXATION (CONT’D)

2010 2009 2010 2009
Note RM’000 RM’000 RM’000 RM’000
Preliminary expenses – 25 – –
Property, plant and
equipment written off 7 9 – – –
Provision for
retirement contributions – 58 – 9
Rental of premises 795 1,792 366 366
Staff costs 40,862 142,187 4,471 5,315
Accretion of refundable deposits
at amortised cost (3,657) – – –
Bad debts recovered – (56) – –
Dividend income:
– associate – – (577) –
– subsidiaries – – (10,946) (46,209)
Gain on transfer of property,
plant and equipment – – – (554)
Gain on disposal
of interest in a subsidiary 35 – (12,677) – (86,351)
(Gain)/Loss on disposal of
property, plant and equipment (424) (3,165) 1,509 –
Gain on disposal of
non-current asset
classified as held for sale (5,855) (1,952) – –
Interest income from:
– associate (2,301) (326) (2,301) (326)
– fixed deposits (1,368) (3,519) (1,298) (2,058)
– subsidiaries – – (924) (9,252)
Management fee:
– associate – (135) – (135)
– subsidiaries – – – (1,485)
Rental income:
– associate – (15) – (15)
– subsidiaries – – (158) (323)
– third party (8) – – –
Waiver of debts (107) (866) – –
Write-back of impairment
loss on receivables – (555) – (944)

31. INCOME TAX EXPENSE

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Current tax expense:

– Malaysian tax (2,392) 8,654 – 364
– foreign tax 652 4,663 – 173
(1,740) 13,317 – 537

– (over)/underprovision in the previous
financial years (741) 51 (8) (306)
(2,481) 13,368 (8) 231
Deferred taxation (Note 21):

– relating to origination and
recognition of temporary differences 475 (1,017) – –
– underprovision in the
previous financial year 1,515 – – –
1,990 (1,017) – –
(491) 12,351 (8) 231
A reconciliation of the income tax expense applicable to the (loss)/ profit before taxation at the statutory tax rates to the income tax
expense at the effective tax rate of the Group and of the Company is as follows:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
(Loss)/Profit before taxation (72,897) 48,701 (17,003) 105,625
Tax at the statutory tax rates of 25% (18,224) 12,175 (4,251) 26,406
Tax effects of:

Non-taxable gains (3,128) (27,486) (2,920) (32,626)
Non-deductible expenses 23,396 31,565 7,171 6,757
Utilisation of previously unrecognised
deferred tax assets (3,175) (3,702) – –
(Over)/Underprovision of current tax in
the previous financial year (741) 51 (8) (306)
Underprovision of deferred tax in the
previous financial year 1,515 – – –
Differential in tax rates (134) (252) – –
Tax for the financial year (491) 12,351 (8) 231

2010
annual report 135

32. (LOSS)/EARNINGS PER SHARE
The basic (loss)/ earnings per share (“EPS”) is arrived at by dividing the Group’s (loss)/ profit attributable to the equity holders of
the Company of RM72,002,000 (2009 – RM29,317,000) by the weighted average number of ordinary shares in issue during the
financial year of 334,463,671 (2009 – 297,600,000 ordinary shares).
Diluted loss per share was not presented for the current financial year as there is an anti-dilutive effect arising from the assumed
conversion of the Warrants.
In the previous financial year, the diluted earnings per share was not applicable as there were no dilutive potential ordinary shares
outstanding at the end of the previous reporting period.
33. DIVIDENDS

2010 2009
RM'000 RM'000
In respect of financial year ended 31 December 2008
First and final dividend of 2.0 sen per ordinary share of
RM0.50 each less tax of 25% – 4,464
In respect of financial year ended 31 December 2009

First and final dividend of 2.0 sen per ordinary share of
RM0.50 each less tax of 25% 4,464 –
The directors do not recommend the payment of any dividend in respect of the financial year ended 31 December 2010.
34. INVESTMENT IN NEW SUBSIDIARIES
(a) During the current financial year, the following subsidiary was incorporated:
Group’s Effective Incorporation

Name of Subsidiary Interest (%) Date
Perdana Nautika Sdn. Bhd. 55 19 November 2010
(b) In the previous financial year, the following subsidiaries were incorporated:
Group’s Effective Incorporation

Name of Subsidiaries Interest (%) Date
Perdana Jupiter Limited 100 12 May 2009

Perdana Neptune Limited 100 23 June 2009
Perdana Pluto Limited 100 12 August 2009
Perdana Saturn Limited 100 12 August 2009

35. SUMMARY OF EFFECTS ON DISPOSAL OF A SUBSIDIARY
Group’s
Net Effective Effective
Incidental Sales Interest Disposal
Subsidiary Consideration Costs Proceeds Disposed Date
RM’000 RM’000 RM’000 (%)
PEB 16,065 (218) 15,847 5.38 10 September 2009

PEB 93,208 (2,937) 90,271 25.03 11 December 2010
109,273 (3,155) 106,118 30.41
The details of the assets, liabilities and net cash inflows arising from the disposal of interest in the subsidiary were as follows:
The Group/
The Company
2009
Note RM’000
Property, plant and equipment 7 260,729

Prepaid lease payments 7,157
Investment in associate 40
Intangible assets 10 1,434
Deferred tax assets 11 16
Cash and cash equivalents 45,356
Trade receivables 13 191,526
Other receivables, deposits and prepayments 13 75,682
Other net current liabilities (245,133)
Deferred taxation 21 (27,885)
Other non-current liabilities (534)
Total equity 308,388

Less: Minority interests (123,880)
Less: Interest retained in the subsidiary disposed of (91,067)
Net assets disposed 93,441

Gain on disposal of interest in a subsidiary 30 12,677
Net sales proceeds received 106,118

Less: Cash and cash equivalents of the subsidiary disposed of (45,356)
Net cash inflow on disposal of interest in a subsidiary 60,762
There was no disposal of subsidiary during the financial year.

2010
annual report 137

36. PURCHASE OF PROPERTY, PLANT AND EQUIPMENT

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Property, plant and equipment purchased 191,345 529,405 6,838 2,889

Less: Amount financed through hire purchase (390) (96) (390) –
Cash disbursed for the purchase of property,

plant and equipment 190,955 529,309 6,448 2,889
37. CASH AND CASH EQUIVALENTS
For the purpose of the statements of cash flows, cash and cash equivalents comprise the following:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Fixed deposits with licensed banks 51,188 158,437 47,360 152,392

Cash and bank balances 18,293 21,288 3,018 8,270
69,481 179,725 50,378 160,662

Less: Fixed deposits pledged as security
(Note 16) (31,538) (144,306) (29,060) (144,306)
37,943 35,419 21,318 16,356


38. DIRECTORS’ REMUNERATION
The aggregate amount of remuneration received and receivable from the Group by directors of the Company during the financial
year are as follows:

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Executive Directors:
– fee 199 126 199 87

– non-fee emoluments 4,027 1,451 2,106 642
4,226 1,577 2,305 729
Independent Non-Executive Directors:
– fee 172 90 172 90

– non-fee emoluments 20 – 20 –
192 90 192 90
Total directors’ remuneration 4,418 1,667 2,497 819

Estimated money value of benefits-in-kind 259 132 193 82
Total directors’ remuneration, including

benefits-in-kind 4,677 1,799 2,690 901
2010
annual report 139

38. DIRECTORS’ REMUNERATION (CONT’D)
The number of directors of the Company whose total remuneration received/receivable from the Group during the financial year
fell within the following bands is analysed below:
Number Of Directors
2010 2009 2010 2009
Executive Directors
Below RM50,000 1 – 1 1
RM50,001 – RM100,000 – – 1 –
RM100,001 – RM150,000 1 – 1 –
RM250,001 – RM300,000 – 1 – 1
RM500,001 – RM550,000 – 1 – 1
RM550,001 – RM600,000 1 – 1 –
RM750,001 – RM800,000 – – 1 –
RM900,001 – RM950,000 – 1 – –
RM950,001 – RM1,000,000 – – 1 –
RM1,000,001 – RM1,050,000 1 – – –
RM1,050,001 – RM1,100,000 1 – – –
RM1,650,001 – RM1,700,000 1 – – –
6 3 6 3
Independent
Non-Executive Directors
Below RM50,000 6 3 6 3
RM50,001 – RM100,000 1 – 1 –
7 3 7 3
13 6 13 6
During the financial year, four (4) directors were removed from the Board and one (1) director had resigned.

39. RELATED PARTY DISCLOSURES
The Group has related party relationships with:
(a) its subsidiaries, associate and related parties as disclosed in Note 5, Note 6 and Note 14 to the financial statements; and
(b) key management personnel of the Group.
In addition to the information detailed elsewhere in the financial statements, the Group carried out the following transactions with
the related parties during the financial year:

2010 2009 2010 2009
Note RM'000 RM'000 RM'000 RM'000
Associate:
– dividend income – – 577 –
– interest and finance income 2,301 326 2,301 326
– management fee income – 135 – 135
– rental income – 15 – 15
Subsidiaries:
– dividend income – – 10,946 46,209
– handling fee paid/payable – – 522 596
– Interest and finance income – – 924 9,252
– management fee income – – – 1,485
– rental income – – 158 323
Related parties: (i)

– chartered vessel income 94,070 6,084 – –
– retainer fee paid/payable – 39 – 39
– sales of property, plant
and equipment 96,600 – – –
Key management personnel

compensation:
– short-term employee benefits 5,752 6,412 2,673 1,957
– post employment benefits 23 58 17 9
Note:
(i) A company in which a director of a subsidiary has a substantial financial interest.
The details of the outstanding amounts with the subsidiaries, the related parties and the associate are disclosed in Note 8, Note 14
and Note 15 to the financial statements.
2010
annual report 141

40. CAPITAL COMMITMENT

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Approved and Contracted For
Purchase of property, plant and equipment 198,276 448,660 4,547 10,747
41. CONTINGENT LIABILITIES

2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Unsecured
Corporate guarantee
given to licensed banks
and financial institutions
for credit facilities
granted to related parties 9,508 32,233 9,508 32,233
Bank guarantee granted

to third parties for
benefit of a subsidiary 2,320 2,591 2,320 2,591
Performance guarantee
extended by subsidiaries
to third parties 5 5 – –
11,833 34,829 11,828 34,824
42. LEASE COMMITMENTS
The Group
2010 2009
RM'000 RM'000
Lease rentals payable:
– within one year 105,137 97,958
– within two to five years 373,316 365,329
– within six to ten years 232,191 342,955
710,644 806,242
The lease rentals payable are in respect of lease agreements entered into by subsidiaries for lease of vessels for periods ranging from
five (5) to ten (10) years and for the office and warehouse.

43. FOREIGN EXCHANGE RATES
The applicable closing foreign exchange rates used (expressed on the basis of one unit of foreign currency to Ringgit Malaysia
equivalent) for the translation of material foreign currency balances at the end of the reporting period are as follows:

2010 2009
RM RM
Australian Dollar 3.1515 3.0700

Singapore Dollar 2.3908 2.4408
United States Dollar 3.0905 3.4295
44. OPERATING SEGMENTS
Operating segments are prepared in a manner consistent with the internal reporting provided to the Group Executive Committee as
its chief operating decision maker in order to allocate resources to segments and to assess their performance. For management
purposes, the Group is organised into business units based on their products and services provided.
The Group is organised into three (3) main business segments as follows:
(i) Marine offshore support services segment - provision of vessels for the upstream oil and gas industry, ranging from towing,
mooring and anchoring of non-self propelled marine vessels; transportation of drilling equipment, production chemicals and
project materials to engineering and workshop facilities onboard.
(ii) Integrated brownfield, engineering and maintenance services segment - provision of services includes top-side major
maintenance hook-up commissioning and construction; engineering, operations and maintenance; equipment packaging and
manufacturing; oil field optimisation, design and fabrication of processed equipment and boiler for the oil and gas,
petrochemical and general industries.
(iii) Investment holding segment - provide group-level corporate services and treasury functions and investments in equities.
The Group Executive Committee assesses the performance of the operating segments based on operating results which are measured
differently from those disclosed in the consolidated financial statements.
Assets, liabilities and expenses which are common and cannot be meaningfully allocated to the operating segments are presented
under unallocated items. Unallocated item comprises mainly investment in associate.
Transfer prices between operating segments are at arm’s length basis in a manner similar to transactions with third parties.
2010
annual report 143

44. OPERATING SEGMENTS (CONT’D)
BUSINESS SEGMENTS
Integrated
Brownfield,
Marine Engineering
Offshore And
Support Maintenance Investment
2010 Services Services Holding Elimination Group
RM’000 RM’000 RM’000 RM’000 RM’000
Revenue
External revenue 254,887 – – – 254,887
Inter-segment revenue 168,410 – 11,681 (180,091) –
423,297 – 11,681 (180,091) 254,887
Results
Segment results (73,120) – 2,222 20,569 (50,329)
Finance costs (4,641) – (19,426) 1,112 (22,955)
(77,761) – (17,204) 21,681 (73,284)
Share of results in
an associate 387
Income tax expense 491
Consolidated loss
after taxation (72,406)
Assets
Segment assets 603,023 – 662,980 (445,916) 820,087
Deferred tax assets 46

Tax recoverable 3,758
Consolidated total assets 823,891
Liabilities
Segment liabilities 355,748 – 210,968 (251,985) 314,731
Deferred taxation 4,048

Provision for taxation 860
Consolidated total liabilities 319,639
Other segment items

Additions to non-current assets other than financial instruments:
– investment in subsidiary – – 55 (55) –
– property, plant
and equipment 184,507 – 6,838 – 191,345

BUSINESS SEGMENTS (CONT’D)
Integrated
Brownfield,
Marine Engineering
Offshore And
Support Maintenance Investment
2009 Services Services Holding Elimination Group
RM’000 RM’000 RM’000 RM’000 RM’000
Revenue
External revenue 227,618 377,916 150 – 605,684
Inter-segment revenue 177,689 159 48,017 (225,865) –
405,307 378,075 48,167 (225,865) 605,684
Results
Segment results 36,112 37,126 134,874 (125,968) 82,144
Finance costs (1,244) (7,739) (32,964) 9,252 (32,695)
Profit before taxation 34,868 29,387 101,910 (116,716) 49,449
Share of results in
an associate (748)
Income tax expense (12,351)
Consolidated profit
after taxation 36,350
Assets
Segment assets 730,827 – 820,598 (415,391) 1,136,034
Deferred tax assets 46

Tax recoverable 5,057
Consolidated total assets 1,141,137
Liabilities
Segment liabilities 339,003 – 457,939 (224,352) 572,590
Deferred taxation 2,060

Provision for taxation 2,238
Consolidated total liabilities 576,888
Other segment items

Additions to non-current assets other than financial instruments:
– investment in subsidiary – – 394 (394) –
– property, plant
and equipment 383,090 143,415 2,900 – 529,405
2010
annual report 145

BUSINESS SEGMENTS (CONT’D)
The following items are added to/ (deducted from) segment profit to arrive at the consolidated (loss)/ profits after taxation:
The Group
2010 2009
RM’000 RM’000
Accretion of refundable deposits at amortised cost 3,657 –

Gain on disposal of interest in a subsidiary – 12,677
Gain on disposal of property, plant and equipment 424 3,165
Gain on disposal of non-current asset classified as held for sale 5,855 1,952
Allowance for impairment loss on receivables/ related parties (5,020) –
Impairment loss on property, plant and equipment (2,982) –
Impairment loss on refundable deposits (9,380) –
GEOGRAPHICAL SEGMENTS
The Group The Group

Revenue Non-Current Assets
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Malaysia 169,877 495,403 463,080 388,724

Singapore 51,898 43,091 399 488
Marshall Islands 33,079 59,766 144,307 287,500
Australia 33 7,424 51 79
254,887 605,684 607,837 676,791
MAJOR CUSTOMERS
Revenue from four (4) major customers, with revenue equal to or more than 10% of Group revenue, amounts to RM221,990,000
(2009 – RM205,504,000).
45. FINANCIAL INSTRUMENTS
(a) Financial Risk Management Policies
The Group’s financial risk management policy seeks to ensure that adequate financial resources are available for the
development of the Group’s businesses whilst managing its market risk (including foreign currency risk, interest rate risk and
equity risk), credit risk and liquidity risk. The Group’s policies in respect of the major areas of treasury activity are as follows:
(i) Market Risk
(i) Foreign Currency Risk
The Group is exposed to foreign exchange risk arising mainly from normal trading transactions that are denominated
in foreign currencies. It manages its foreign exchange exposure by a policy of matching as far as possible receipts
and payments in each individual currency. The Group’s foreign currency transactions and balances are substantially
denominated in United States Dollar (USD). Foreign currency risk is managed to an acceptable level.
On occasion, the Group enters into a variety of derivative financial instruments to manage its exposure to the foreign
currency risk.

45. FINANCIAL INSTRUMENTS (CONT’D)
(a) Financial Risk Management Policies (Cont’d)
(i) Market Risk (Cont’d)
(i) Foreign Currency Risk (Cont’d)
United States Singapore Australian Ringgit

Dollar Dollar Dollar Others Malaysia Total
The Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2010
Financial assets
Refundable deposits 90,930 – – – – 90,930
Trade and other receivables 36,164 2,167 9 – 15,626 53,966
Amount owing by
related parties 4,189 758 451 – 31,216 36,614
Fixed deposits with
licensed banks – 2,478 – – 48,710 51,188
Cash and bank balances 13,845 1,278 650 9 2,511 18,293
145,128 6,681 1,110 9 98,063 250,991
Financial liabilities
Derivative liability – – – – 3,070 3,070
Payables 27,239 9,001 944 1,916 27,632 66,732
Amount owing to related parties 1 – – – 32 33
Borrowings – 61 – – 244,835 244,896
27,240 9,062 944 1,916 275,569 314,731
Net financial assets/ (liabilities) 117,888 (2,381) 166 (1,907) (177,506) (63,740)
Less: Net financial
(assets)/ liabilities
denominated in the respective
entities functional currencies 95,478 2,846 166 – (177,114) (78,624)
Currency exposure 22,410 (5,227) – (1,907) (392) 14,884

2010
annual report 147

United States Singapore Australian Ringgit

Dollar Dollar Dollar Others Malaysia Total
The Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2009
Financial assets
Refundable deposits 98,221 – – – – 98,221
Trade and other receivables 45,776 4,504 79 – 12,507 62,866
Amount owing by
related parties 6,438 779 616 – 30,361 38,194
Amount owing by an associate – – – – 51,649 51,649
Fixed deposits with
licensed banks – 1,455 – – 156,982 158,437
Cash and bank balances 17,857 780 1,145 10 1,496 21,288
168,292 7,518 1,840 10 252,995 430,655
Payables 84,376 10,560 1,069 537 28,755 125,297
Amount owing to related parties 1 – – – 235 236
Amount owing to an associate – – – – 1,975 1,975
Borrowings – 82 – – 445,000 445,082
84,377 10,642 1,069 537 475,965 572,590
Net financial assets/ (liabilities) 83,915 (3,124) 771 (527) (222,970) (141,935)
Less: Net financial
(assets)/ liabilities
denominated in the respective
entities functional currencies 46,586 2,781 771 – (205,782) (155,644)
Currency exposure 37,329 (5,905) – (527) (17,188) 13,709


United States Ringgit

Dollar Malaysia Total
The Company RM’000 RM’000 RM’000
2010
Financial assets
Receivables – 1,416 1,416
Amount owing by subsidiaries – 271 271
Amount owing by related parties – 259 259
Fixed deposits with licensed banks – 47,360 47,360
Cash and bank balances 1,585 1,433 3,018
1,585 50,739 52,324
Payables – 8,787 8,787
Amount owing to subsidiaries – 123,839 123,839
Amount owing to related parties – 32 32
Borrowings – 200,186 200,186
– 332,844 332,844
Net financial assets/ (liabilities) 1,585 (282,105) (280,520)

Less: Net financial (assets)/
liabilities denominated in the
entity’s functional currency – (282,105) (282,105)
Currency exposure 1,585 – 1,585

2010
annual report 149

United States Ringgit

Dollar Malaysia Total
The Company RM’000 RM’000 RM’000
2009
Financial assets
Receivables – 217 217
Amount owing by subsidiaries – 27 27
Amount owing by related parties – 259 259
Amount owing by an associate – 51,649 51,649
Fixed deposits with licensed banks – 152,392 152,392
Cash and bank balances 6,947 1,323 8,270
6,947 205,867 212,814
Payables – 9,005 9,005
Amount owing to subsidiaries – 95,862 95,862
Amount owing to related parties – 3 3
Amount owing to an associate – 1,975 1,975
Borrowings – 445,000 445,000
– 551,845 551,845
Net financial assets/ (liabilities) 6,947 (345,978) (339,031)

Less: Net financial (assets)/
liabilities denominated in the
entity’s functional currency – (345,978) (345,978)
Currency exposure 6,947 – 6,947


Foreign currency risk sensitivity analysis
The following table details the sensitivity analysis to a reasonably possible change in the foreign currencies as at the
end of the reporting period, with all other variables held constant:

2010 2010
Increase/ Increase/
(Decrease) (Decrease)
RM’000 RM’000
Effects on profit after taxation
United States Dollar:

– strengthened by 10% 2,241 159
– weakened by 10% (2,241) (159)
Singapore Dollar:
– strengthened by 10% (523) –
– weakened by 10% 523 –
Effects on equity
There is no material impact to the Group’s equity.
(ii) Interest Rate Risk
The Group’s exposure to interest rate risk arises mainly from its short-term deposits with licensed banks and the
interest-bearing borrowings. On occasion, the Group enters into a variety of derivative financial instruments to
manage its exposure to the interest rate risk.
Surplus funds are placed with licensed financial institutions at the most favourable interest rates.
Interest rate risk sensitivity analysis
The following table details the sensitivity analysis to a reasonably possible change in the interest rates of the floating
rate borrowings as at the end of the reporting period, with all other variables held constant:

2010 2010
Increase/ Increase/
(Decrease) (Decrease)
RM’000 RM’000
Effects on profit after taxation
Increase of 50 basis points (“bp”) (165) –

Decrease of 50 bp 165 –
Effects on equity
There is no material impact to the Group’s equity.

2010
annual report 151

(iii) Equity Price Risk
The Group’s principal exposure to equity price risk arises mainly from changes in quoted securities prices. Equity price
risk is monitored closely and managed to an acceptable level.
As the Group’s quoted investment is accounted for under the cost method, the sensitivity analysis is not presented.
(ii) Credit Risk
The Group’s exposure to credit risk, or the risk of counterparties defaulting, arises mainly from receivables (including
trade receivables, other receivables and related parties). The Group manages its exposure to credit risk by the application
of credit approvals, credit limits and monitoring procedures on an ongoing basis.
The Group establishes an allowance for impairment that represents its estimate of incurred losses in respect of the
receivables as appropriate. The main components of this allowance are a specific loss component that relates to
individually significant exposures, and a collective loss component established for groups of similar assets in respect of
losses that have been incurred but not yet identified. Impairment is estimated by management based on prior experience
and the current economic environment.
Credit risk concentration profile
The Group’s concentration of credit risk relates to the amounts owing by four (4) customers which constituted approximately
81% of its net trade receivables at the end of the reporting period.

(ii) Credit Risk (Cont’d)
Exposure to credit risk
As the Group does not hold any collateral, the maximum exposure to credit risk is represented by the carrying amount
of the financial assets as at the end of the reporting period.
Ageing analysis
The ageing analysis of the Group’s trade receivables as at 31 December 2010 is as follows:
Gross Individual Collective Carrying

Amount Impairment Impairment Value
The Group RM’000 RM’000 RM’000 RM’000
2010
Not past due 27,113 – – 27,113
Past due:
– less than 3 months 11,193 – – 11,193
– 3 to 6 months 4,839 – – 4,839
– over 6 months 3,171 (297) – 2,874
46,316 (297) – 46,019
Trade receivables that are past due but not impaired
The Group believes that no impairment allowance is necessary in respect of these receivables. They are substantially
companies with good collection track record and no recent history of default.
Trade receivables that are neither past due nor impaired
A significant portion of trade receivables that are neither past due nor impaired are regular customers that have been
transacting with the Group. The Groups uses ageing analysis to monitor the credit quality of the trade receivables.
2010
annual report 153

(ii) Credit Risk (Cont’d)
Ageing analysis (Cont’d)
The ageing analysis of the Group’s other trade balances (amount owing by related parties) as at 31 December 2010 is
as follow:
Gross Individual Collective Carrying

Amount Impairment Impairment Value
The Group RM’000 RM’000 RM’000 RM’000
2010
Not past due 15,078 – – 15,078
Past due:
– less than 3 months 9,515 – – 9,515
– 3 to 6 months 5,037 (1,899) – 3,138
– over 6 months 1,168 – – 1,168
30,798 (1,899) – 28,899
Trade receivables that are past due but not impaired
The Group believes that no impairment allowance is necessary as they are mainly related parties.

(iii) Liquidity Risk
The Group's exposure to liquidity risk arises mainly from general funding and business activities.
The Group practises prudent liquidity risk management by maintaining sufficient cash balances and funding through
adequate amounts of committed credit facilities/ credit lines for working capital requirements.
The following table sets out the maturity profile of the financial liabilities as at the end of the reporting period based on
contractual undiscounted cash flows (including interest payments computed using contractual rates or, if floating, based
on the rates at the end of the reporting period):
Contractual < ------------- Maturity ------------- >

Carrying Undiscounted Within 1–5 Over
Amount Cash Flows 1 Year Years 5 Years
The Group RM’000 RM’000 RM’000 RM’000 RM’000
2010
Payables 66,732 66,732 66,472 260 –

Amount owing to
related parties 33 33 33 – –
Hire purchase payables 424 493 98 357 38
Term loans 244,472 261,947 109,194 152,753 –
311,661 329,205 175,797 153,370 38
2009
Payables 125,297 125,297 125,056 241 –

Amount owing to
Amount owing to
an associate 1,975 1,975 1,975 – –
Hire purchase payables 82 95 22 73 –
Term loans 445,000 478,423 262,884 215,539 –
572,590 606,026 390,173 215,853 –

2010
annual report 155

(iii) Liquidity Risk (Cont’d)
Contractual < ------------- Maturity -------------->

Carrying Undiscounted Within 1–5 Over
Amount Cash Flows 1 Year Years 5 Years
The Company RM’000 RM’000 RM’000 RM’000 RM’000
2010
Payables 8,787 8,787 8,573 214 –

Amount owing to
subsidiaries 123,839 123,839 123,839 – –
Amount owing to
Hire purchase payables 363 422 77 307 38
Term loans 199,823 215,539 105,188 110,351 –
332,844 348,619 237,709 110,872 38
2009
Payables 9,005 9,005 8,804 201 –

Amount owing to
subsidiaries 95,862 95,862 95,862 – –
Amount owing to an
associate 1,975 1,975 1,975 – –
Amount owing to
Term loans 445,000 478,423 262,884 215,539 –
551,845 585,268 369,528 215,740 –


(iii) Liquidity Risk (Cont’d)
Cash Flow Hedge
The Group enters into a USD-MYR cross-currency interest rate swap to hedge the cash flow and the interest rate risks of
its foreign currency floating rate term loan as disclosed in Note 24(d) to the financial statements. The cross-currency
interest rate swap has the same nominal value of the term loan of USD14,480,000 (equivalent to RM46,408,400) and
is settled quarterly, consistent with the repayment schedule of the said term loan.
The cross-currency interest rate swap has been designated as a cash flow hedge and was assessed to be
highly effective.
(b) Capital Risk Management
The Group manages its capital to ensure that entities within the Group will be able to maintain an optimal capital structure so
as to support their businesses and maximise shareholder(s) value. To achieve this objective, the Group may make adjustments
to the capital structure in view of changes in economic conditions, such as adjusting the amount of dividend payment, returning
of capital to shareholders or issuing new shares.
The Group manages its capital based on debt-to-equity ratio. The Group’s strategies were unchanged from the previous financial
year. The debt-to-equity ratio is calculated as net debt divided by total equity. Net debt is calculated as borrowings plus trade
and other payables less cash and cash equivalents.
The debt-to-equity ratio of the Group as at the end of the reporting period was as follows:
The Group
2010 2009
RM RM
Net debt 242,180 392,865
Total equity 504,252 564,249
Debt-to-equity ratio 0.48 0.70
The Group did not breach any gearing requirement during the financial years ended 31 December 2009 and 31 December 2010.
Under the requirement of Bursa Malaysia Practice Note No. 17/ 2005, the Company is required to maintain a consolidated
shareholders’ equity (total equity attributable to owners of the Company) equal to or not less than the 25% of the issued and
paid-up share capital (excluding treasury shares) and such shareholders’ equity is not less than RM40 million. The Company
has complied with this requirement.
2010
annual report 157

(c) Classification Of Financial Instruments
The The
Group Company
2010 2010
RM’000 RM’000
Financial assets
Loans and receivables financial assets

Refundable deposits 90,930 –
Receivables 53,966 1,416
Amount owing by subsidiaries – 271
Amount owing by related parties 36,614 259
Fixed deposits with licensed banks 51,188 47,360
Cash and bank balances 18,293 3,018
250,991 52,324
Fair value through profit or loss

Derivative liability 3,070 –
Other financial liabilities

Payables 66,732 8,787
Amount owing to subsidiaries – 123,839
Amount owing to related parties 33 32
Borrowings 244,896 200,186
314,731 332,844

(d) Fair Values Of Financial Instruments
The carrying amounts of the financial assets and financial liabilities reported in the financial statements approximated their fair
values except for the following:
2010 2009
Carrying Fair Carrying Fair
Amount Value Amount Value
RM RM RM RM
The Group
Refundable deposits 90,930 90,222 98,221 65,681

Borrowings 244,472 223,940 445,000 419,739
The Company
Borrowings 199,823 185,993 445,000 419,739
The following summarises the methods used to determine the fair values of the financial instruments:
(i) The financial assets and financial liabilities maturing within the next twelve (12) months approximated their fair values due
to the relatively short-term maturity of the financial instruments.
(ii) The fair value of the refundable deposits and borrowings is determined by the discounting the relevant cash flows using
current interest rates for similar instruments as at the end of the reporting period.
(iii) The fair value of the derivative instrument is based on broker quotes.
The interest rates used to discount estimated cash flows, where applicable, are as follows:
Group Company
2010 2009 2010 2009
% % % %
Refundable deposits 5.03 4.46 – –

Borrowings 6.15 5.55 6.30 5.55
2010
annual report 159

46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
The details of the significant events during the financial year are as follows:
(i) On 23 December 2009, the Company received an Interim Ex-Parte Order by the Kuala Lumpur High Court (“High Court”)
(Commercial Division) vide Suit No. 22NCC 735-2009 (“Derivative Suit”), fixing an inter parties hearing on 11 January 2010
to restrain the Company, Y.M. Tengku Dato’ Ibrahim Petra Bin Tengku Indra Petra (“TIP”) and other three (3) directors of the
Company (collectively referred to as “Former Directors”) and TA Securities Holdings Berhad (“TA Securities”) from divesting the
remaining 29.59% shares held by the Company in Petra Energy Berhad (“PEB”) until Encik Shamsul Bin Saad (“Encik Shamsul”)
requisitions for an Extraordinary General Meeting of the Company’s shareholders and/or until the final disposal of the
Derivative Suit whenever is earlier.
The Derivative Suit was a derivative action taken by Encik Shamsul in Encik Shamsul’s capacity as a minority shareholder of
the Company, for the benefit of the Company. The allegations in the Derivative Suit were, inter alia, breach of fiduciary duties,
duty of care in common law and equity as well as statutory duties by the abovenamed Former Directors. Any damages
recovered would go solely to the Company and none to Encik Shamsul.
The High Court Judge on 16 August 2010 allowed an application by the Former Directors against Encik Shamsul with costs
on the grounds, inter alia, that the Derivative Suit is no longer sustainable given the change in circumstances, namely on the
issue of control of the Company.
(ii) On 6 January 2010, the Company received a special notice for the removal of TIP, Datin Nariza Hajjar Hashim, Wong Fook
Heng and Tiong Young Kong as directors of the Company, together with the calling of an Extraordinary General Meeting
pursuant to Section 145 of the Companies Act 1965 cum notice of candidates namely, Dato’ Kho Poh Eng, Koh Pho Wat, Surya
Hidayat Bin Abdul Malik and Ganesan A/L Sundaraj, as directors pursuant to Article 102(a) of the Company's Articles of
Association (the “EGM”), from some shareholders of the Company.
On 4 February 2010, the EGM was convened and ordinary resolutions tabled as resolution 1 to resolution 8 were approved
resulting in the removal of TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng and Tiong Young Kong as directors of the
Company and the appointment of Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat Bin Abdul Malik and Ganesan A/L
Sundaraj, as directors.
(iii) On 2 February 2010, Intra Oil Services Berhad (“IOS”) took legal action against Encik Shamsul and Asia Marine Pte. Ltd.
(“AMPL”) in the Kuala Lumpur High Court via Suit No. D-27NCC-2-2010 (“Suit”) in relation to the entry of the Broker’s
(Commission) Agreement dated 9 March 2009 (“BCA”). In the suit, IOS contended, amongst others, that Encik Shamsul had
breached his fiduciary duties and/or obligations owed to IOS as payments were made to AMPL prior to the BCA being signed.
On 23 February 2010, the Board of Directors of IOS, save for Encik Shamsul who had abstained from deliberation and voting
on the matter, reviewed the legal suit and found the legal suit to be completely baseless. IOS has subsequently withdrawn the
legal suit. A ‘Notis Pemberhentian’ was filed with the Kuala Lumpur High Court on the same day.
(iv) On 9 February 2010, the Company announced that the disposal of Petra Endeavour to Petra Innotech Sdn. Bhd. was completed
on 27 January 2010.
(v) On 12 February 2010, the Company prepaid Tranche 3 and Tranche 4 of Facility B and partial of Tranche 2 of Facility B
(RM150 million syndicated transferable term loan) amounting to RM108 million.
(vi) On 18 March 2010, IOS accepted a Commodity Murabahah Term Financing-i facility of USD14.48 million to finance the
acquisition of one (1) unit workboat namely, Petra Sovereign for a period of five (5) years.
(vii) On 19 March 2010, the Company requested its associate, PEB to repay the entire amount outstanding immediately.

46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONT’D)
(viii) On 31 March 2010, Perdana Mercury Limited (“PML”) took delivery of an anchor handling tug and supply vessel (“AHTS”),
namely Petra Admiral and entered into a Bareboat Charter with Mount Tahan LLC to leaseback the said vessel for a period of
120 months.
(ix) The acquisition of Petra Sovereign was completed upon delivery of the vessel to IOS as the nominee for Perdana Venus Limited
(“PVL”) on 3 May 2010.
(x) On 20 May 2010, PVL entered into Memoranda of Agreement (“MOA”) with Mount Bintang LLC to dispose of its Petra Liberty
and Petra Excelsior for a consideration of USD18 million and USD25 million respectively.
Upon the disposals, PML entered into a Bareboat Charter with Mount Bintang LLC to leaseback the said vessels for a period of
sixty (60) months commencing from the respective dates of delivery of the two (2) vessels with an option to purchase the
respective vessels at the end of the charter period upon the terms and conditions as stipulated in the Option Agreement entered
into between PML and Mount Bintang LLC.
(xi) On 21 May 2010, IOS filed an action in the High Court vide a Writ Summons (Suit No. D-22NCC-1005-2010) (“IOS Suit”)
against the former directors of IOS, namely TIP, Tiong Young Kong and Wong Fook Heng for breach of fiduciary duties and/or
common law duties owed to IOS.
On 20 December 2010, IOS decided to discontinue the IOS Suit with no order as to costs and without liberty to file afresh.
(xii) On 26 May 2010, the Company announced that the Company has, together with Encik Shamsul, as beneficial shareholders
of PEB, given a special notice to PEB of their joint intention to propose resolutions to remove TIP, Lee Mee Jiong, Suhaimi Badrul
Jamil as directors of PEB and to appoint Koh Pho Wat and Surya Hidayat Bin Abdul Malik as directors of PEB. A circular to
shareholders of PEB dated 31 May 2010 was dispatched to convene an extraordinary general meeting on 24 June 2010
(“PEB EGM”).
On 17 June 2010, Encik Suhaimi Badrul Jamil resigned as a director of PEB and on 18 June 2010, TIP and Lee Mee Jiong
resigned as directors of PEB.
On 24 June 2010, the Company together with Encik Shamsul, withdrew the proposed resolutions on the appointment of Messrs
Koh Pho Wat and Encik Surya Hidayat Bin Abdul Malik at the PEB EGM as the Company had received a letter from PEB dated
22 June 2010 inviting the Company to nominate representative(s) to the PEB's board of directors.
On 13 July 2010, Surya Hidayat Bin Abdul Malik was appointed to the board of directors of PEB as a non-independent and
non-executive director.
2010
annual report 161

(xiii) On 22 June 2010, the Company announced that it had received letters from certain shareholders of the Company, namely Chow
Lean Keat, Datin Che Nariza Hajjar Hashim, Ramilah Joannah Sulaiman and Nik Ismail Bin Tengku Besar Indra Raja
nominating their respective candidates, John Pang Yun Nian, Dato’ Syed Norulzaman Bin Syed Kamarulzaman, Suhaimi Bin
Badrul Jamil and Dato’ Shaik Sulaiman Bin S. Mohamed Ismail for election to the office of director of the Company.
On 24 June 2010, the Company was served by the solicitors of Datin Che Nariza Hajjar Hashim and the solicitor of Nik Ismail
Bin Tengku Besar Indra Raja and Ramilah Joannah Sulaiman, sealed copies of the Summons in Chambers dated 23 June 2010
and Originating Summons dated 23 June 2010 together with copies of the Affidavit in Support in relation to the adjournment
of the forthcoming Annual General Meeting (“AGM”) of the Company to be held on 28 June 2010 to such date after the
disposal of the Originating Summons.
On 28 June 2010, the Company announced that the High Court has granted an order for the 14th AGM to proceed with the
resolutions number 1, 2, 7, 8, 9 and 10 whereas the tabling and voting for the resolutions number 3, 4, 5, and 6 as detailed
in the notice of additional resolution dated 21 June 2010 would be done at the adjourned AGM. The adjourned AGM was
held on 20 July 2010 at One World Hotel, Kuala Lumpur.
On 1 July 2010, the Company announced that on 30 June 2010, its solicitors had filed in the Notices of Appeal to the Court
of Appeal in respect of the decision of the High Court given on 28 June 2010 (the “Appeals”). On the same day, the Company
informed that they received a letter dated 30 June 2010 from John Pang Yun Nian, withdrawing his consent to the nomination
by a shareholder, Chow Lean Keat, nominating him for the election as director of the Company.
On 15 July 2010, the Company further announced that they had received three (3) letters, all dated 14 July 2010 respectively,
from Ramilah Joannah Sulaiman, Datin Che Nariza Hajjar Hashim and Nik Ismail Bin Tengku Besar Indra Raja withdrawing
their nomination of Suhaimi Bin Badrul Jamil, Dato’ Syed Norulzaman Bin Syed Kamarulzaman and Dato’ Shaik Sulaiman Bin
S. Mohamed Ismail as directors of the Company. In addition, these nominees have also withdrawn their respective notice of
candidate as director of the Company dated 8 June 2010 on even date via the letter all dated 14 July 2010.
On 8 September 2010, the Company announced that the hearing of the Appeals was heard by the Court of Appeal on 7
September 2010 and the Court of Appeal held that the Appeals have been rendered academic by reason of the withdrawals
of the respective nominations in question. The Court of Appeal dismissed both the Appeals with no orders as to costs and
further ordered that the deposits of the Appeals be refunded to the Company. The merits of the substantive Appeals were not
heard nor ventilated.
(xiv) On 2 July 2010, the Company announced the completion of a private placement of 29,760,000 new ordinary shares of
RM0.50 each in the Company following the listing of and quotation for the said new shares on the Main Market of Bursa
Malaysia Securities Berhad (“Bursa Securities”) which were issued and allotted on 30 June 2010 at an issue price of RM1.32
per share.
(xv) On 11 August 2010, PVL gave a notice of cancellation of the MOA in respect of the SK 202 Vessel to Nam Cheong Dockyard
Sdn. Bhd. (“NCD”) and NCD has agreed to refund fully all the deposit paid earlier of USD8.85 million.
As a result of the cancellation, part of the proceeds from the private placement amounting to RM19.78 million which was
previously intended to be utilised towards the payments of SK 202 Vessel has been earmarked for working capital purposes.
(xvi) On 1 November 2010, the Company announced the completion of a renounceable rights issue of 122,760,000 new ordinary
shares of RM0.50 each in the Company following the listing of and quotation for the said new shares on Main Market of Bursa
Securities which was issued and allotted on 27 October 2010 at an issue price of RM0.59 per share.

(xvii) On 19 November 2010, Perdana Nautika Sdn. Bhd. (“PNSB”) was incorporated with an issued and paid-up capital of RM2.00
each divided into 2 ordinary shares of RM1.00. The main activity of PNSB was to provide offshore marine support services
for the upstream oil and gas industry in the domestic market.
On 28 December 2010, the Company announced that it has further subscribed for an additional 54,998 new ordinary shares
of RM1.00 each at par in the share capital of PNSB representing 55% of the enlarged share capital of PNSB. The balance of
the 45% equity stake of the enlarged share capital of PNSB has been subscribed for by Kelana Teroka Sdn. Bhd., a 100%
bumiputra Malaysian incorporated company with experience in offshore marine support services. Amongst others, PNSB in its
structure is to undertake the Petronas Licence requirements for domestic offshore marine support services.
47. SIGNIFICANT EVENT OCCURRING AFTER THE REPORTING PERIOD
Ampangship Marine Sdn. Bhd. (“AMS”) entered into a MOA dated 23 March 2011 to dispose of its accommodation workbarge
namely, Emerald to PT PANN (Persero), a company incorporated in Indonesia for a total cash consideration of USD8.2 million. The
disposal was completed upon delivery of the accommodation workbarge to PT PANN (Persero) on 8 April 2011.
48. COMPARATIVE FIGURES
The following comparative figures have been reclassified to conform with the presentation of the current financial year:

As As
As Previously As Previously
Restated Reported Restated Reported
RM’000 RM’000 RM’000 RM’000
Statement of Financial
Position (Extract):
Non-Current Assets
Amount owing by subsidiaries – – 353,576 329,715
Refundable deposits 98,221 75,106 – –
Current Assets
Receivables 97,827 120,942 15,104 38,965
2010
annual report 163

49. SUPPLEMENTARY INFORMATION - DISCLOSURE OF REALISED AND UNREALISED PROFITS
On 25 March 2010, Bursa Securities issued a directive to all listed issuers pursuant to Paragraph 2.06 and 2.23 of the Bursa
Securities Main Market Listing Requirements. The directive requires all listed issuers to disclose the breakdown of the unappropriated
profits or accumulated losses as at the end of the reporting period, into realised and unrealised profits or losses.
On 20 December 2010, Bursa Securities further issued guidance on the disclosure and the format required.
The breakdown of the retained profits of the Group and the Company as at 31 December 2010, into realised and unrealised profits,
pursuant to the directive, is as follows:

2010 2010
RM’000 RM’000
Total retained profits
– realised 189,677 138,071
– unrealised (29,406) 45
160,271 138,116
Total share of retained profits from associate:
– realised 60,508 –
– unrealised (7,935) –
212,844 138,116
Less: Consolidation adjustments 27,954 –
At 31 December 240,798 138,116
The determination of realised and unrealised profits is compiled based on Guidance of Special Matter No. 1, Determination of
Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Securities Listing Requirements, issued by
the Malaysian Institute of Accountants on 20 December 2010.
The disclosure of realised and unrealised profits above is solely for complying with the disclosure requirements stipulated in the
directive of Bursa Securities and should not be applied for any other purposes.
penyata kewangan
Laporan Para Pengarah 165
Kenyataan oleh Para Pengarah 171
Perakuan Berkanun 171
Laporan Juruaudit Bebas 172
Penyata Kedudukan Kewangan 174
Penyata Pendapatan Komprehensif 176
Penyata Perubahan Ekuiti 177
Penyata Aliran Tunai 179
Nota-Nota kepada
Penyata Kewangan 182
laporan tahunan
2010
165
Laporan Pengarah
Para pengarah dengan ini membentangkan laporan mereka dan penyata kewangan teraudit Kumpulan dan Syarikat bagi tahun
KEGIATAN UTAMA
Syarikat pada dasarnya merupakan sebuah syarikat pemegangan pelaburan dan juga terlibat dalam penyediaan perkhidmatan
pentadbiran dan pengurusan kepada anak-anak syarikatnya. Kegiatan utama anak-anak syarikat dinyatakan dalam Nota 5 kepada
penyata kewangan. Tidak ada perubahan ketara dalam sifat kegiatan ini dalam tahun kewangan.
KEPUTUSAN-KEPUTUSAN
Kumpulan Syarikat
RM'000 RM'000
Kerugian selepas cukai boleh dikaitkan kepada pemilik-pemilik Syarikat (72,002) (16,995)
DIVIDEN
Sejak akhir tahun kewangan yang lepas, Syarikat membayar dividen pertama dan akhir sebanyak 2.0 sen setiap saham biasa bernilai
RM0.50 sesaham, tolak cukai pada 25% ke atas 297,600,000 saham biasa berjumlah RM4,464,000 berhubung dengan tahun
Para pengarah tidak mengesyorkan bayaran sebarang dividen berhubung dengan tahun kewangan berakhir 31 Disember 2010.
RIZAB DAN PERUNTUKAN
Semua pemindahan material kepada atau daripada rizab atau peruntukan dalam tahun kewangan dinyatakan dalam
penyata kewangan.
Laporan Pengarah (samb)
TERBITAN SAHAM DAN DEBENTUR
Dalam tahun kewangan,
(a) tidak ada perubahan dalam modal saham Syarikat yang dibenarkan; dan
(b) Syarikat menambah modal sahamnya yang diterbitkan dan berbayar daripada RM148,800,000 kepada RM225,060,000 melalui:
(i) penerbitan sebanyak 29,760,000 saham biasa baru bernilai RM0.50 sesaham untuk tunai bagi tujuan bayaran deposit carter
dan kegunaan modal kerja selaras dengan penempatan persendirian Syarikat pada harga langganan sebanyak RM1.32-
setiap saham pada 30 Jun 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama Bursa
Malaysia Securities Berhad (“Bursa Securities”) pada 2 Julai 2010; dan
(ii) penerbitan sebanyak 122,760,000 saham biasa baru bernilai RM0.50 sesaham untuk tunai bagi tujuan bayaran balik
pinjaman dan kegunaan modal kerja selaras dengan terbitan hak boleh lepas Syarikat dengan waran boleh lepas percuma
(“Terbitan Hak”) berasaskan tiga (3) saham hak (“Saham-saham Hak”) bagi setiap lapan (8) saham biasa sedia ada bernilai
RM0.50 sesaham dipegang dalam Syarikat bersama dengan 61,379,785 waran boleh lepas percuma (“Waran”)
berasaskan satu (1) Waran bagi setiap dua (2) Saham Hak dilanggan pada harga terbitan RM0.59 setiap Saham Hak pada
27 Oktober 2010. Saham-saham baru ini telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities
pada 1 November 2010.
Saham-saham biasa baru yang diterbitkan dalam tahun kewangan bertaraf pari passu dalam semua hubungan dengan
saham-saham biasa sedia ada Syarikat; dan
(c) tidak ada terbitan debentur oleh Syarikat.
OPSYEN DIBERIKAN KE ATAS SAHAM TIDAK DITERBITKAN
Dalam tahun kewangan, tiada opsyen telah diberikan oleh Syarikat kepada mana-mana orang untuk mengambil mana-mana saham
tidak diterbitkan dalam Syarikat kecuali bagi penerbitan Waran selaras dengan Terbitan Hak di atas.
laporan tahunan
2010
167
WARAN 2010/2015
Pada 27 Oktober 2010, Syarikat telah menerbitkan 61,379,785 Waran percuma selaras dengan Terbitan Hak. Waran dibentuk melalui
Surat Ikatan Pol bertarikh 15 September 2010 (“Surat Ikatan Pol”).
Terma-terma penting Waran 2010/2015 adalah seperti berikut:
(a) Setiap Waran memberhakkan pemegang berdaftar untuk melanggan bagi satu (1) saham biasa baru bernilai RM0.50 sesaham
dalam Syarikat pada bila-bila masa pada atau sebelum tarikh matang, 26 Oktober 2015, terjatuh lima (5) tahun dari tarikh terbitan
Waran. Waran tidak dilaksanakan selepas tempoh pelaksanaan akan selepas itu luput dan berhenti untuk menjadi sah;
(b) Harga pelaksanaan Waran ditetapkan pada RM1.00 setiap Waran;
(c) Saham-saham biasa baru yang akan diterbitkan selepas pelaksanaan Waran akan bertaraf pari passu dalam semua hubungan
dengan saham-saham biasa sedia ada Syarikat; dan
(d) Waran telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities pada 1 November 2010.
Pergerakan Waran dalam tahun kewangan adalah seperti berikut:
Keberhakan Bagi Saham Biasa Bernilai RM0.50 Sesaham

Diterbitkan
Pada Pada
27.10.2010 Dilaksanakan Dibatalkan 31.12.2010
Bilangan Waran tidak dilaksanakan 61,379,785 – – 61,379,785
HUTANG LAPUK DAN RAGU
Sebelum penyata kewangan Kumpulan dan Syarikat dibuat, para pengarah mengambil langkah-langkah munasabah untuk memastikan
bahawa tindakan telah diambil berhubung dengan penghapusan kira hutang lapuk dan membuat peruntukan bagi hutang ragu, dan
mereka berpuas hati bahawa tidak ada hutang lapuk diketahui dan bahawa peruntukan mencukupi telah dibuat bagi kerugian rosot nilai
ke atas penghutang.
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang mungkin memerlukan penghapusan kira
hutang ragu, atau peruntukan tambahan bagi kerugian rosot nilai ke atas penghutang dalam penyata kewangan Kumpulan dan Syarikat.
ASET SEMASA
Sebelum penyata kewangan Kumpulan dan Syarikat dibuat, para pengarah telah mengambil langkah-langkah munasabah untuk
memastikan bahawa sebarang aset semasa selain daripada hutang, yang tidak mungkin dapat direalisasikan dalam perjalanan biasa
perniagaan, termasuk nilainya sebagaimana ditunjukkan dalam rekod-rekod perakaunan Kumpulan dan Syarikat, telah dikurangkan nilai
kepada jumlah yang ia dijangka dapat direalisasikan.
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang mungkin menjadikan nilai boleh dikaitkan
kepada aset semasa dalam penyata kewangan mengelirukan.
KAEDAH PENILAIAN
Pada tarikh laporan ini, para pengarah tidak menyedari mengenai sebarang keadaan yang telah timbul yang membawa kepada
pematuhan kepada kaedah penilaian sedia ada aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak munasabah.
LIABILITI LUAR JANGKAAN DAN LAIN-LAIN LIABILITI
Liabiliti luar jangkaan dinyatakan dalam Nota 41 kepada penyata kewangan. Pada tarikh laporan ini, tidak wujud:
(a) sebarang perubahan ke atas aset Kumpulan dan Syarikat yang timbul sejak akhir tahun kewangan yang menjamin liabiliti mana-
mana orang lain; atau
(b) sebarang liabiliti luar jangkaan Kumpulan dan Syarikat yang timbul sejak akhir tahun kewangan.
Tiada liabiliti luar jangkaan atau lain-lain liabiliti Kumpulan dan Syarikat telah menjadi boleh dikuatkuasakan atau berkemungkinan akan
menjadi boleh dikuatkuasakan dalam tempoh dua belas (12) bulan selepas akhir tempoh kewangan yang, pada pendapat para
pengarah, akan atau mungkin menjejaskan dengan ketara keupayaan Kumpulan dan Syarikat untuk memenuhi tanggungannya apabila
tiba masanya.
PERUBAHAN KEADAAN
Pada tarikh laporan ini, para pengarah tidak menyedari tentang sebarang keadaan yang jika tidak diambil kira dalam laporan ini atau
penyata kewangan Kumpulan dan Syarikat yang akan menjadikan sebarang jumlah dinyatakan dalam penyata kewangan mengelirukan.
PERKARA-PERKARA BERSIFAT LUAR BIASA
Keputusan operasi Kumpulan dan Syarikat dalam tahun kewangan, pada pendapat para pengarah, tidak terjejas secara ketaranya
oleh mana-mana perkara, urus niaga atau peristiwa yang bersifat material dan luar biasa selain daripada kesan-kesan timbul daripada
penerimaan pakai FRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran yang telah meningkatkan kerugian bersih Kumpulan
dan Syarikat masing-masing sebanyak RM5,915,728 dan RM192,549.
Tidak timbul dalam selang masa antara akhir tahun kewangan dan tarikh laporan ini mana-mana perkara, urus niaga atau peristiwa
yang bersifat material dan luar biasa, pada pendapat para pengarah, menjejaskan dengan ketara keputusan operasi Kumpulan dan
Syarikat bagi tahun kewangan.
SKIM OPSYEN SAHAM KAKITANGAN ("ESOS")
ESOS Kumpulan telah diluluskan oleh Suruhanjaya Sekuriti pada 16 Ogos 2001 dan akan berkuat kuasa untuk tempoh selama 10 tahun
bermula dari 12 Mac 2002.
ESOS telah diluluskan oleh pemegang-pemegang saham pada Mesyuarat Agung Luar Biasa yang diadakan pada 31 Januari 2002.
Dalam tahun kewangan, tiada opsyen di bawah ESOS telah diberikan.

laporan tahunan
2010
169
PARA PENGARAH
Para pengarah yang menyandang jawatan sejak tarikh laporan terakhir adalah seperti berikut:
Shamsul Bin Saad

Dato’ Kho Poh Eng
Koh Pho Wat
Surya Hidayat Bin Abdul Malik
Ganesan A/L Sundaraj
Idris Bin Zaidel
Raja Anuar Bin Raja Abu Hassan
Hamdan Bin Rasid (Dilantik Pada 20.7.2010)
KEPENTINGAN PARA PENGARAH
Menurut daftar pemegangan saham para pengarah, kepentingan para pengarah yang memegang jawatan pada akhir tahun kewangan
dalam saham-saham dalam Syarikat dan syarikat-syarikat berkaitannya dalam tahun kewangan adalah seperti berikut:
Bilangan Saham Biasa Bernilai RM0.50 Sesaham

Pada Pada
1.1.2010 Dibeli Dijual 31.12.2010
Syarikat
Kepentingan Langsung
Shamsul Bin Saad 8,425,000 3,159,375 – 11,584,375
Dato’ Kho Poh Eng 14,195,630 5,689,448 – 19,885,078
Koh Pho Wat 15,649,330 6,868,401 – 22,517,731
Dianggap Berkepentingan
Shamsul Bin Saad – 9,625 – 9,625#
Dato’ Kho Poh Eng 71,067 28,933 – 100,000#
Koh Pho Wat 226,032 84,968 – 311,000#
Bilangan Waran 2010/2015

Diterbitkan Pada Pada
27.10.2010 Dibeli Dilaksanakan 31.12.2010
Kepentingan Langsung
Shamsul Bin Saad 1,579,687 – – 1,579,687
Dato’ Kho Poh Eng 2,844,724 – – 2,844,724
Koh Pho Wat 3,434,200 – – 3,434,200
Dianggap Berkepentingan
Shamsul Bin Saad 1,312 – – 1,312#
Dato’ Kho Poh Eng 14,466 – – 14,466#
Koh Pho Wat 42,484 – – 42,484#
#
Dianggap berkepentingan selaras dengan Seksyen 134(12)(c) Akta Syarikat 1965.
Lain-lain pengarah yang memegang jawatan pada akhir tahun kewangan tidak mempunyai kepentingan dalam saham-saham dalam
Syarikat dan syarikat-syarikat berkaitannya dalam tahun-tahun kewangan.
MANFAAT PENGARAH
Sejak akhir tahun kewangan yang lepas, tiada pengarah telah menerima atau layak untuk menerima sebarang manfaat (selain daripada
manfaat yang termasuk dalam agregat jumlah emolumen yang diterima atau terhutang dan boleh diterima oleh para pengarah
sebagaimana ditunjukkan dalam penyata kewangan, atau gaji tetap kakitangan sepenuh masa Syarikat) atas alasan kontrak yang
dibuat oleh Syarikat atau syarikat berkaitan dengan pengarah atau dengan firma yang mana pengarah merupakan seorang ahli, atau
dengan syarikat dalam mana pengarah mempunyai kepentingan kewangan yang besar.
Sama ada dalam tahun kewangan mahupun pada akhir tahun kewangan, Kumpulan atau Syarikat tidak menjadi pihak kepada mana-
mana pengaturan yang objeknya adalah untuk membolehkan para pengarah mendapat manfaat melalui cara pengambilalihan saham-
saham dalam atau debentur Syarikat atau mana-mana badan korporat yang lain.
PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN
Peristiwa-peristiwa penting sepanjang tahun kewangan Kumpulan dan Syarikat dikemukakan dalam Nota 46 kepada penyata kewangan.
PERISTIWA-PERISTIWA PENTING BERLAKU SELEPAS TEMPOH PELAPORAN
Peristiwa-peristiwa penting berlaku selepas tempoh pelaporan Kumpulan dan Syarikat dikemukakan dalam Nota 47 kepada
penyata kewangan.
JURUAUDIT
Juruaudit, Tetuan. Crowe Horwath, telah menyatakan kesanggupan mereka untuk meneruskan tugas mereka.
Ditandatangani selaras dengan resolusi para pengarah bertarikh 28 April 2011.
Koh Pho Wat
Shamsul Bin Saad

laporan tahunan
2010
171
Kenyataan oleh Para Pengarah

Kami, Koh Pho Wat dan Shamsul Bin Saad, merupakan dua orang pengarah Petra Perdana Berhad, menyatakan bahawa, pada
pendapat para pengarah, penyata kewangan yang dikemukakan pada muka surat 174 hingga 255 disediakan selaras dengan
Piawaian Pelaporan Kewangan dan Akta Syarikat 1965 di Malaysia untuk memberikan gambaran sebenar dan saksama mengenai
hal-ehwal Kumpulan dan Syarikat pada 31 Disember 2010 serta keputusan dan aliran tunainya bagi tahun kewangan berakhir pada
tarikh tersebut.
Maklumat tambahan dinyatakan dalam Nota 49 pada muka surat 256, yang bukan merupakan sebahagian daripada penyata
kewangan, disediakan dalam semua hubungan material, selaras dengan Panduan mengenai Perkara Khas No. 1, Penentuan mengenai
Keuntungan atau Kerugian Direalis dan Tidak Direalis dalam Konteks Pendedahan Selaras Dengan Syarat–syarat Penyenaraian Bursa
Malaysia Securities Berhad, sebagaimana dikeluarkan oleh Institut Akauntan Malaysia dan arahan Bursa Malaysia Securities Berhad.
Ditandatangani selaras dengan resolusi para pengarah bertarikh 28 April 2011.
Koh Pho Wat Shamsul Bin Saad
Perakuan Berkanun
Saya, Soon Fook Kian, sebagai pegawai yang secara utama bertanggungjawab bagi pengurusan kewangan Petra Perdana Berhad,
dengan sesungguhnya dan seikhlasnya mengaku bahawa penyata kewangan yang disertakan pada muka surat 174 hingga 255, adalah
setakat pengetahuan dan kepercayaan terbaik saya betul, dan saya membuat perakuan ini dengan secara sedar mempercayai yang sama
sebagai benar dan selaras dengan peruntukan Akta Perakuan Berkanun, 1960.
Ditandatangani dan sesungguhnya diperakui oleh )

Soon Fook Kian, di Kuala Lumpur di )
Wilayah Persekutuan pada hari ini )
28 April 2011 ) Soon Fook Kian
Di hadapan saya,
PESURUHJAYA SUMPAH
Kuala Lumpur
Laporan Juruaudit Bebas

Kepada Ahli-ahli Petra Perdana Berhad
Laporan mengenai Penyata Kewangan
Kami telah mengaudit penyata kewangan Petra Perdana Berhad, yang terdiri daripada penyata kedudukan kewangan pada 31 Disember
2010 Kumpulan dan Syarikat, dan penyata pendapatan komprehensif, penyata perubahan dalam ekuiti dan penyata aliran tunai
Kumpulan dan Syarikat bagi tahun kewangan berakhir pada ketika itu, dan ringkasan polisi-polisi perakaunan penting dan lain-lain
maklumat penjelasan, sebagaimana dikemukakan pada muka surat 174 hingga 255.
Tanggungjawab para Pengarah bagi Penyata Kewangan
Para pengarah Syarikat bertanggungjawab bagi penyediaan dan pembentangan saksama penyata kewangan ini selaras dengan
Piawaian Pelaporan Kewangan dan Akta Syarikat 1965 di Malaysia, dan bagi kawalan dalaman tertentu sebagaimana para pengarah
tentukan sebagai perlu untuk membolehkan penyediaan penyata kewangan yang bebas daripada salahnyataan, sama ada disebabkan
oleh fraud atau kesilapan.
Tanggungjawab Juruaudit
Tanggungjawab kami adalah untuk menyatakan pendapat mengenai penyata kewangan ini berdasarkan audit kami. Kami melaksanakan
audit kami selaras dengan piawaian-piawaian diluluskan mengenai pengauditan di Malaysia. Piawaian–piawaian ini memerlukan agar
kami mematuhi syarat-syarat etika dan merancang dan melaksanakan audit untuk mendapatkan jaminan munasabah mengenai sama
ada penyata kewangan adalah bebas daripada salah nyataan material.
Sesuatu audit melibatkan prosedur-prosedur untuk mendapatkan bukti audit mengenai jumlah dan pendedahan dalam penyata
kewangan. Prosedur-prosedur dipilih bergantung pada pertimbangan kami, termasuk penilaian risiko salah nyataan material mengenai
penyata kewangan, sama ada disebabkan oleh fraud atau kesilapan. Dalam membuat penilaian risiko tersebut, kami menimbangkan
kawalan dalaman yang relevan kepada penyediaan dan pembentangan saksama penyata kewangan Syarikat untuk mereka prosedur-
prosedur audit yang sesuai dalam keadaan-keadaan, tetapi untuk tujuan menyatakan pendapat mengenai keberkesanan kawalan
dalaman Syarikat. Sesuatu audit juga termasuk menilai kesesuaian polisi-polisi perakaunan yang digunakan dan kemunasabahan
anggaran-anggaran perakaunan yang dibuat oleh para pengarah, serta juga menilai pembentangan keseluruhan penyata kewangan.
Kami percaya bahawa bukti audit kami yang telah kami perolehi adalah mencukupi dan sesuai untuk menyediakan asas bagi pendapat
audit kami.
Pendapat
Pada pendapat kami, penyata kewangan telah disediakan sewajarnya selaras dengan Piawaian pelaporan Kewangan dan Akta Syarikat
1965 di Malaysia untuk memberi gambaran sebenar dan saksama mengenai kedudukan kewangan Kumpulan dan Syarikat pada 31
Disember 2010 dan prestasi kewangan dan aliran tunai mereka bagi tahun kewangan berakhir pada ketika itu.
laporan tahunan
2010
173
Laporan Juruaudit Bebas (samb)

Kepada Ahli-ahli Petra Perdana Berhad
Laporan Mengenai Keperluan Undang-Undang Dan Berperaturan Lain
Selaras dengan keperluan Akta Syarikat 1965 di Malaysia, kami juga melaporkan yang berikut:
(a) Pada pendapat kami, rekod perakaunan dan lain-lain rekod dan daftar yang diperlukan oleh Akta untuk disimpan oleh
Syarikat dan anak-anak syarikatnya yang kami telah bertindak sebagai juruaudit telah disimpan sewajarnya selaras dengan
peruntukan Akta.
(b) Kami telah menimbangkan penyata kewangan dan laporan juruaudit mengenai semua anak syarikat yang mana kami tidak
bertindak sebagai juruaudit, yang dinyatakan dalam Nota 5 kepada penyata kewangan.
(c) Kami berpuas hati bahawa penyata kewangan anak-anak syarikat yang telah disatukan dengan penyata kewangan Syarikat
adalah dalam bentuk dan kandungan sesuai dan teratur untuk tujuan penyediaan penyata kewangan Kumpulan dan kami telah
menerima maklumat dan penjelasan yang memuaskan yang diperlukan oleh kami untuk tujuan tersebut.
(d) Laporan audit mengenai penyata kewangan anak-anak syarikat tidak mengandungi sebarang syarat atau sebarang ulasan kurang
baik yang dibuat di bawah Akta Seksyen 174(3).
Maklumat tambahan dikemukakan dalam Nota 49 pada muka surat 256 dinyatakan untuk memenuhi keperluan Bursa Malaysia Securities
Berhad dan bukan merupakan sebahagian daripada penyata kewangan. Para pengarah bertanggungjawab bagi penyediaan maklumat
tambahan selaras dengan Garis Panduan mengenai Perkara Khas No. 1, Penentuan Keuntungan atau Kerugian Direalisasikan dan
Tidak Direalisasikan dalam Konteks Pendedahan Selaras Dengan Syarat-syarat Penyenaraian Bursa Malaysia Securities Berhad,
sebagaimana dikeluarkan oleh Institut Akauntan Malaysia ("Garis Panduan MIA ") dan arahan Bursa Malaysia Securities Berhad. Pada
pendapat kami, maklumat tambahan disediakan, dalam semua hubungan material, selaras dengan Panduan MIA dan arahan Bursa
Malaysia Securities Berhad.
PERKARA-PERKARA LAIN
Laporan ini dibuat semata-mata kepada ahli-ahli Syarikat, sebagai sebuah badan, selaras dengan Seksyen 174 Akta Syarikat 1965 di Malaysia
dan bukan untuk sebarang tujuan lain. Kami tidak bertanggungjawab kepada mana-mana orang lain bagi kandungan laporan ini.
Crowe Horwath Poon Yew Hoe

No Firma : AF 1018 No Kelulusan : 956/04/12 (J)
Akauntan Bertauliah Rakan Firma
28 April 2011
Kuala Lumpur
Penyata Kedudukan Kewangan

Pada 31 Disember 2010
Kumpulan Syarikat
Dinyatakan Dinyatakan Dinyatakan Dinyatakan
Semula Semula Semula Semula
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009
Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
ASET
ASET BUKAN SEMASA
Pelaburan dalam anak-anak syarikat 5 – – – 307,461 307,406 346,012

Pelaburan dalam syarikat bersekutu 6 88,420 90,319 – 19,233 19,233 –
Hartanah, loji dan peralatan 7 400,934 460,698 659,068 6,521 8,537 43,041
Bayaran pajakan prabayar – – 7,275 – – –
Jumlah terhutang oleh anak-anak
syarikat 8 – – – 400,949 353,576 301,495
Jumlah terhutang oleh syarikat
bersekutu – – – – – 51,649
Deposit boleh dikembalikan 9 90,930 98,221 58,492 – – 21,999
Aset tidak ketara 10 27,507 27,507 27,507 – – –
Aset cukai tertunda 11 46 46 62 46 46 46
607,837 676,791 752,404 734,210 688,798 764,242
ASET SEMASA
Inventori 12 6,908 5,533 50,299 – – –

Penghutang 13 99,293 97,827 304,061 1,740 15,104 10,636
Jumlah terhutang oleh pelanggan
kontrak – – 6,471 – – –
Jumlah terhutang oleh anak-anak
syarikat 8 – – – 271 27 8
Jumlah terhutang oleh pihak
berkaitan 14 36,614 38,194 – 259 259 –
bersekutu 15 – 51,649 – – 51,649 10,000
Cukai boleh didapati semula 3,758 5,057 7,145 3,102 3,900 4,482
Deposit tetap dengan bank berlesen 16 51,188 158,437 337,423 47,360 152,392 215,236
Tunai dan baki bank 18,293 21,288 33,348 3,018 8,270 781
216,054 377,985 738,747 55,750 231,601 241,143

Aset bukan semasa dikelaskan
sebagai dipegang untuk jualan 17 – 86,361 4,501 – – –
JUMLAH ASET 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
Nota-nota mengiringi membentuk bahagian penting penyata kewangan ini.

laporan tahunan
2010
175
Penyata Kedudukan Kewangan (samb)

Pada 31Disember 2010
Kumpulan Syarikat
Dinyatakan Dinyatakan Dinyatakan Dinyatakan
Semula Semula Semula Semula
31.12.2010 31.12.2009 1.1.2009 31.12.2010 31.12.2009 1.1.2009
Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
EKUITI DAN LIABILITI
EKUITI
Modal saham 18 225,060 148,800 148,800 225,060 148,800 148,800
Rizab 19 278,975 414,869 396,820 232,056 219,754 118,824
JUMLAH EKUITI BOLEH DIKAITKAN

KEPADA PEMILIK-PEMILIK SYARIKAT 504,035 563,669 545,620 457,116 368,554 267,624
KEPENTINGAN MINORITI 217 580 118,162 – – –
JUMLAH EKUITI 504,252 564,249 663,782 457,116 368,554 267,624
LIABILITI BUKAN SEMASA
Cukai tertunda 21 4,048 2,060 30,908 – – –

Pinjaman jangka panjang 22 146,088 227,063 295,280 105,108 227,000 295,000
Liabiliti derivatif 25 3,070 – – – – –
Pemiutang 26 260 241 511 214 201 231
153,466 229,364 326,699 105,322 227,201 295,231
LIABILITI SEMASA
Pemiutang 26 66,472 125,056 127,811 8,573 8,804 15,336
Jumlah terhutang kepada
anak-anak syarikat 8 – – – 123,839 95,862 64,194
pihak-pihak berkaitan 14 33 236 – 32 3 –
Jumlah terhutang kepada syarikat
bersekutu 15 – 1,975 – – 1,975 –
Jumlah terhutang kepada pelanggan
kontrak – – 9,625 – – –
Pinjaman jangka pendek 27 98,808 218,019 366,023 95,078 218,000 363,000
Peruntukan bagi cukai 860 2,238 1,712 – – –
166,173 347,524 505,171 227,522 324,644 442,530
JUMLAH LIABILITI 319,639 576,888 831,870 332,844 551,845 737,761
JUMLAH EKUTII DAN LIABILITI 823,891 1,141,137 1,495,652 789,960 920,399 1,005,385
ASET BERSIH SETIAP SAHAM BIASA (RM) 28 1.12 1.89

Penyata Pendapatan Komprehensif

Bagi Tahun Kewangan Berakhir 31 Disember 2010
Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
HASIL 29 254,887 605,684 11,681 48,167
KOS JUALAN (280,800) (491,792) – –
(KERUGIAN)/ KEUNTUNGAN KASAR (25,913) 113,892 11,681 48,167

LAIN-LAIN PENDAPATAN 28,262 32,866 4,873 99,823
2,349 146,758 16,554 147,990

KOS PENJUALAN DAN PENGEDARAN (2,377) (4,373) – –
PERBELANJAAN PENTADBIRAN (27,379) (49,756) (12,039) (9,037)
LAIN-LAIN PERBELANJAAN (22,922) (10,485) (2,092) (425)
KOS KEWANGAN (22,955) (32,695) (19,426) (32,903)
BAHAGIAN KEPUTUSAN DALAM
SYARIKAT BERSEKUTU 387 (748) – –
(KERUGIAN)/ KEUNTUNGAN
SEBELUM CUKAI 30 (72,897) 48,701 (17,003) 105,625
PERBELANJAAN CUKAI PENDAPATAN 31 491 (12,351) 8 (231)
(KERUGIAN)/ KEUNTUNGAN
SELEPAS CUKAI (72,406) 36,350 (16,995) 105,394
LAIN-LAIN PENDAPATAN KOMPREHENSIF
– Terjemahan mata wang asing (56,594) (8,927) – –
– Lindungan nilai aliran tunai (1,311) – – –
(57,905) (8,927) – –
JUMLAH (PERBELANJAAN)/ PENDAPATAN

KOMPREHENSIF BAGI TAHUN KEWANGAN (130,311) 27,423 (16,995) 105,394
(KERUGIAN)/ KEUNTUNGAN SELEPAS

CUKAI BOLEH DIKAITKAN KEPADA:
Pemilik-pemilik Syarikat (72,002) 29,317 (16,995) 105,394
Kepentingan minoriti (404) 7,033 – –
(72,406) 36,350 (16,995) 105,394

JUMLAH (PERBELANJAAN)/
PENDAPATAN KOMPREHENSIF BOLEH
DIKAITKAN KEPADA:
Pemilik-pemilik Syarikat (129,948) 20,116 (16,995) 105,394
Kepentingan minoriti (363) 7,307 – –
(130,311) 27,423 (16,995) 105,394

(KERUGIAN)/ PEROLEHAN SETIAP SAHAM
– asas (sen) 32 (21.5) 9.9
– dicairkan (sen) 32 Tidak Tidak
berkenaan berkenaan

laporan tahunan
2010
177
Penyata Perubahan Ekuiti

<-----------------------------------Tidak Boleh Diagih-----------------------------------> Boleh Diagih

Rizab Boleh
Lindungan Dikaitkan
Rizab Nilai Lain–Lain Kepada
Modal Premium Rizab Penebusan Rizab Aliran Rizab Keuntungan Pemilik Kepentingan Jumlah
Saham Saham Waran Modal Terjemahan Tunai Modal Tertahan Syarikat Minoriti Ekuiti
Nota RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM’000 RM'000 RM'000 RM'000 RM'000
Kumpulan
Baki pada 1 Januari 2009 148,800 60,377 – 2,127 6,860 – – 327,456 545,620 118,162 663,782
Jumlah pendapatan komprehensif
bagi tahun kewangan – – – – (9,201) – – 29,317 20,116 7,307 27,423
Pengkelasan semula kepada
keutungan atau kerugian
atas pelupusan kapal – – – – 2,397 – – – 2,397 – 2,397
Pengambilalihan kepentingan
dalam anak syarikat – – – – – – – – – 562 562
Pelupusan kepentingan dalam
anak syarikat 35 – – – – – – – – – (123,880) (123,880)
Terbitan saham oleh anak syarikat
kepada kepentingan minoriti – – – – – – – – – 322 322
Dividen 33 – – – – – – – (4,464) (4,464) – (4,464)
Dividen dibayar kepada kepentingan
minoriti oleh anak-anak syarikat – – – – – – – – – (1,893) (1,893)
Baki pada 31 Disember 2009 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
Baki pada 31 Disember 2009/

1 Januari 2010
– sebagaimana dilaporkan
sebelum ini 148,800 60,377 – 2,127 56 – – 352,309 563,669 580 564,249
– kesan menerima pakai FRS 139 3(a)(iii) – – – – – – – (35,045) (35,045) – (35,045)
– sebagaimana dinyatakan semula 148,800 60,377 – 2,127 56 – – 317,264 528,624 580 529,204
Jumlah perbelanjaan komprehensif
bagi tahun kewangan – – – – (56,635) (1,311) – (72,002) (129,948) (363) (130,311)
Perubahan Akta Syarikat
Labuan 1990 – – – (2,127) – – 2,127 – – – –
Penerbitan saham biasa di
bawah penempatan persendirian 14,880 24,403 – – – – – – 39,283 – 39,283
Penerbitan saham biasa di
bawah terbitan hak 61,380 – 11,048 – – – – – 72,428 – 72,428
Perbelanjaan terbitan saham – (1,888) – – – – – – (1,888) – (1,888)
Dividen 33 – – – – – – – (4,464) (4,464) – (4,464)
Baki pada 31 Disember 2010 225,060 82,892 11,048 – (56,579) (1,311) 2,127 240,798 504,035 217 504,252

Penyata Perubahan Ekuiti (samb)

Modal Premium Rizab Keuntungan

Saham Saham Waran Tertahan Jumlah
Nota RM'000 RM'000 RM’000 RM'000 RM'000
Syarikat
Baki pada 1 Januari 2009 148,800 60,377 – 58,447 267,624

Jumlah pendapatan komprehensif
bagi tahun kewangan – – – 105,394 105,394
Dividen 33 – – – (4,464) (4,464)
Baki pada 31 Disember 2009/

1 Januari 2010
– sebagaimana dilaporkan sebelum ini 148,800 60,377 – 159,377 368,554
– kesan menerima pakai FRS 139 3(a)(iii) – – – 198 198
– sebagaimana dinyatakan semula 148,800 60,377 – 159,575 368,752

Jumlah perbelanjaan komprehensif
bagi tahun kewangan – – – (16,995) (16,995)
Penerbitan saham biasa di bawah
penempatan persendirian 14,880 24,403 – – 39,283
Penerbitan saham biasa di bawah
terbitan hak 61,380 – 11,048 – 72,428
Perbelanjaan terbitan saham – (1,888) – – (1,888)
Dividen 33 – – – (4,464) (4,464)
Baki pada 31 Disember 2010 225,060 82,892 11,048 138,116 457,116
Nota-nota mengiringi membentuk bahagian penting penyata kewangan

laporan tahunan
2010
179
Penyata Aliran Tunai

Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
ALIRAN TUNAI (BAGI)/ DARIPADA
KEGIATAN KENDALIAN
(Kerugian)/ Keuntungan sebelum cukai (72,897) 48,701 (17,003) 105,625
Pelarasan bagi:
Peruntukan bagi kerugian rosot nilai
ke atas penghutang pihak berkaitan/
anak-anak syarikat 5,020 – 5 –
Pelunasan bayaran pajakan prabayar – 118 – –
Susut nilai hartanah, loji dan peralatan 36,227 48,956 445 425
Kerugian rosot nilai ke atas
hartanah, loji dan peralatan 2,982 – – –
Kerugian rosot nilai ke atas deposit
boleh dikembalikan 9,380 – – –
Perbelanjaan faedah 21,651 25,770 18,667 29,727
Inventori dihapus kira – 2 – –
Peruntukan bagi caruman persaraan – 58 – 9
Hartanah, loji dan peralatan dihapus kira 9 – – –
Penambahan deposit boleh dikembalikan (3,657) – – –
Dividen daripada anak-anak syarikat – – (10,946) (46,209)
Dividen daripada syarikat bersekutu – – (577) –
Keuntungan atas pemindahan
hartanah, loji dan peralatan – – – (554)
Keuntungan atas pelupusan
kepentingan dalam anak syarikat – (12,677) – (86,351)
(Keuntungan)/ Kerugian atas pelupusan
hartanah, loji dan peralatan (424) (3,165) 1,509 –
Keuntungan atas pelupusan aset
bukan semasa dikelaskan
sebagai dipegang untuk jualan (5,855) (1,952) – –
Pendapatan faedah (3,669) (3,845) (4,523) (11,636)
Keuntungan tidak direalis ke atas
pertukaran asing (9,464) (399) – –
Penepian hutang (107) (866) – –
Kemasukan kira semua kerugian
rosot nilai ke atas penghutang – (555) – (944)
Bahagian keputusan dalam
syarikat bersekutu (387) 748 –
(Kerugian)/ keuntungan kendalian
sebelum perubahan modal kerja (21,191) 100,894 (12,423) (9,908)
Peningkatan dalam inventori (1,524) (13,510) – –
Peningkatan dalam jumlah
terhutang oleh pelanggan kontrak – (16,905) – –
Pengurangan dalam jumlah
terhutang kepada pelanggan kontrak – (1,586) – –
(Peningkatan)/ Pengurangan dalam
penghutang (6,056) (62,018) 13,365 (6,330)
(Pengurangan)/ Peningkatan
dalam pemiutang (57,291) 91,627 (198) (6,571)
Pengurangan/ (Peningkatan)
dalam jumlah terhutang oleh
pihak berkaitan 988 (29,887) – –

Penyata Aliran Tunai (samb)

Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
TUNAI (BAGI)/DARIPADA OPERASI (85,074) 68,615 744 (22,809)
Faedah dibayar (21,651) (25,770) (18,667) (29,727)

Cukai dibayar (2,210) (16,484) – (1,138)
Pengembalian cukai 4,682 2,475 3,219 1,489
TUNAI BERSIH (BAGI)/DARIPADA

KEGIATAN KENDALIAN (104,253) 28,836 (14,704) (52,185)
ALIRAN TUNAI DARIPADA/(BAGI)

KEGIATAN PELABURAN
Pelaburan dalam anak-anak syarikat baru – – (55) *

Pelaburan dalam syarikat bersekutu – (40) – –
Pendahuluan (kepada)/
daripada anak-anak syarikat – – (47,621) 10,227
(Pendahuluan kepada)/ Bayaran balik
daripada pihak berkaitan (4,661) 106,163 – (259)
Pengambilalihan kepentingan
tambahan dalam anak syarikat – – – (394)
Aliran keluar tunai bersih daripada
pengambilalihan anak-anak syarikat – (2,637) – –
Aliran masuk tunai bersih daripada
pelupusan kepentingan dalam
anak syarikat 35 – 60,762 – 106,118
Dividen diterima daripada
anak-anak syarikat – – 8,532 46,209
Dividen diterima daripada
syarikat bersekutu 577 – 577 –
Deposit boleh dikembalikan dibayar (42,535) (34,109) – –
Perolehan daripada pelupusan
hartanah, loji dan peralatan 177,580 326,539 6,900 –
Perolehan daripada pelupusan aset
bukan semasa dikelaskan sebagai
dipegang untuk jualan 94,501 6,656 – –
Bayaran balik bersih daripada
syarikat bersekutu 49,674 1,803 49,674 10,000
Pembelian hartanah, loji dan peralatan 36 (190,955) (529,309) (6,448) (2,889)
Faedah diterima 3,669 3,845 4,523 11,636
Pengeluaran deposit tetap 112,768 2,216 115,246 610
TUNAI BERSIH DARIPADA/ (BAGI)

KEGIATAN PELABURAN 200,618 (58,111) 131,328 181,258
BAKI DIHANTAR KE HADAPAN 96,365 (29,275) 116,624 129,073
* Kurang daripada RM1,000.

laporan tahunan
2010
181
Penyata Aliran Tunai (samb)

Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
BAKI DIBAWA KEHADAPAN 96,365 (29,275) 116,624 129,073
ALIRAN TUNAI BAGI

KEGIATAN PEMBIAYAAN
Perolehan daripada terbitan saham
oleh anak syarikat kepada
pemegang-pemegang saham minoriti 45 322 – –
Perolehan daripada terbitan saham 111,711 – 111,711 –
Perbelanjaan terbitan saham (1,888) – (1,888) –
Pengeluaran pinjaman bank 71,408 231,368 25,000 170,000
Bayaran balik pinjaman bank (270,000) (384,908) (270,000) (383,000)
Bayaran balik obligasi sewa beli (46) (245) (27) –
Pendahuluan daripada anak-anak syarikat – – 27,977 31,668
Bayaran balik kepada syarikat bersekutu – – – 1,975
(Bayaran balik kepada)/ Pendahuluan
daripada pihak berkaitan (219) 236 29 3
Dividen dibayar kepada
pemegang-pemegang saham minoriti
oleh anak-anak syarikat – (1,893) – –
Dividen dibayar (4,464) (4,464) (4,464) (4,464)
TUNAI BERSIH BAGI

KEGIATAN PEMBIAYAAN (93,453) (159,584) (111,662) (183,818)
PENINGKATAN/ (PENGURANGAN)
BERSIH DALAM TUNAI DAN
SETARA TUNAI 2,912 (188,859) 4,962 (54,745)
KESAN TERJEMAHAN
PERTUKARAN ASING (388) 920 – –
TUNAI DAN SETARA TUNAI PADA

PERMULAAN TAHUN KEWANGAN 35,419 223,358 16,356 71,101
TUNAI DAN SETARA TUNAI PADA

AKHIR TAHUN KEWANGAN 37 37,943 35,419 21,318 16,356

Nota-nota Kepada Penyata Kewangan

1. MAKLUMAT AM
Syarikat adalah sebuah syarikat awam berhad melalui saham dan diperbadankan di bawah Akta Syarikat 1965 di Malaysia.
Domisil Syarikat adalah di Malaysia. Pejabat berdaftar yang juga merupakan tempat perniagaan utama, ialah di No. 6-8, Jalan
3/3C, Batu 7, Jalan Ipoh, 68100 Kuala Lumpur.
Penyata kewangan telah dibenarkan untuk pengeluaran oleh Lembaga Pengarah selaras dengan resolusi para pengarah bertarikh
28 April 2011.
2. KEGIATAN UTAMA
Syarikat pada dasarnya adalah sebuah syarikat pemegangan pelaburan dan juga terlibat dalam penyediaan perkhidmatan
pentadbiran dan pengurusan kepada anak-anak syarikatnya. Kegiatan utama anak-anak syarikat dinyatakan dalam Nota 5 kepada
penyata kewangan. Tidak ada perubahan ketara dalam kegiatan ini dalam tahun kewangan.
3. ASAS PENYEDIAAN
Penyata kewangan Kumpulan disediakan di bawah konvensyen kos sejarah dan diubahsuai untuk memasukkan lain-lain asas
penilaian sebagaimana dinyatakan dalam lain-lain seksyen di bawah polisi-polisi perakaunan penting, dan mematuhi Piawaian
Pelaporan Kewangan (“FRS”) dan Akta Syarikat 1965 di Malaysia.
(a) Dalam tahun kewangan semasa, Kumpulan telah menerima pakai piawaian-piawaian perakaunan dan tafsiran-tafsiran baru
berikut (termasuk pindaan-pindaan berbangkit):
FRS dan Tafsiran IC (Termasuk Pindaan-pindaan berbangkit)
FRS 4 Kontrak Insurans
FRS 7 Instrumen Kewangan: Pendedahan
FRS 8 Segmen Kendalian
FRS 101 (Disemak) Pembentangan Penyata Kewangan
FRS 123 (Disemak) Kos Pinjaman
FRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran
Pindaan kepada FRS 1 dan FRS 127: Kos Pelaburan dalam Anak Syarikat, Entiti Kawalan Bersama atau Syarikat Bersekutu
Pindaan kepada FRS 2: Syarat-syarat Perletahakan dan Pembatalan
Pindaan kepada FRS 7, FRS 139 dan Tafsiran IC 9
Pindaan kepada FRS 101 dan FRS 132: Instrumen Kewangan Boleh Letak dan Obligasi Timbul atas Pembubaran
laporan tahunan
2010
183
Nota-nota Kepada Penyata Kewangan (samb)

3. ASAS PENYEDIAAN (SAMB)
(a) FRS dan Tafsiran IC (Termasuk Pindaan-pindaan Berbangkit) (Samb)
Pindaan kepada FRS 132: Pengkelasan Terbitan Hak dan Peruntukan Peralihan berhubung dengan Instrumen Kompoun
Tafsiran IC 9 Penilaian Semula Derivatif Terbenam
Tafsiran IC 10 Pelaporan Kewangan dan Rosot Nilai Interim
Tafsiran IC 11: FRS 2 – Urus Niaga Saham Kumpulan dan Perbendaharaan
Tafsiran IC 13 Program Kesetiaan Pelanggan
Tafsiran IC 14: FRS 119 – Had ke atas Aset Manfaat Dinyatakan, Keperluan Pendanaan Minimum dan Interaksinya
Penambahbaikan Tahunan kepada FRS (2009)
Penerimaan pakai piawaian-piawaian perakaunan dan tafsiran-tafsiran di atas (termasuk pindaan-pindaan berbangkit) tidak
mempunyai sebarang kesan material ke atas penyata kewangan Kumpulan, selain daripada yang berikut:
(i) FRS 7 memerlukan pendedahan tambahan mengenai instrumen kewangan Kumpulan. Sebelum 1 Januari 2010,
maklumat mengenai penyata kewangan didedahkan selaras dengan keperluan FRS 132 – Instrumen Kewangan:
Pendedahan dan Pembentangan. FRS 7 memerlukan pendedahan maklumat kualitatif dan kuantitatif mengenai
pendedahan kepada risiko-risiko timbul daripada instrumen kewangan, termasuk pendedahan minimum khusus mengenai
risiko kredit, risiko mudah tunai dan risiko pasaran, termasuk analisis kesensitifan kepada risiko pasaran.
Kumpulan telah menggunakan FRS 7 secara prospektif selaras dengan peruntukan peralihan. Selaras dengan itu,
pendedahan baru belum terpakai kepada angka-angka perbandingan dan dimasukkan di seluruh penyata kewangan
bagi tahun kewangan semasa.
(ii) FRS 101 (Disemak) memperkenalkan penyata pendapatan komprehensif, dengan semua perkara pendapatan dan
perbelanjaan diiktiraf dalam keuntungan atau kerugian, bersama dengan semua perkara lain daripada pendapatan
diiktiraf dan perbelanjaan diiktiraf secara langsung dalam ekuiti, sama ada dalam satu penyata tunggal, atau dalam dua
penyata berhubung kait. Kumpulan telah memilih untuk membentangkan penyata ini sebagai satu penyata tunggal.
Piawaian disemak juga mengasingkan perubahan pemilik dan bukan pemilik dalam ekuiti. Penyata perubahan dalam
ekuiti termasuk hanya butir-butir urus niaga dengan pemilik, dengan semua perubahan bukan pemilik dalam ekuiti
dibentangkan dalam penyata pendapatan komprehensif sebagai lain-lain pendapatan komprehensif.
FRS 101 (Disemak) juga memerlukan Kumpulan untuk membuat pendedahan baru bagi membolehkan pengguna penyata
kewangan untuk menilai objektif, polisi dan proses Kumpulan bagi menguruskan modal. Pendedahan baru ini dibuat
dalam Nota 45(b) kepada penyata kewangan.

(a) (iii) Penerimaan pakai FRS 139 (termasuk pindaan-pindaan berbangkit) telah menyebabkan beberapa perubahan kepada
polisi-polisi perakaunan berkaitan dengan pengiktirafan dan pengukuran instrumen kewangan.
Kesan kewangan kepada penyata kewangan diringkaskan seperti berikut:
Kumpulan Pada
1.1.2010
Nota RM’000
Keuntungan tertahan
Pengukuran semula deposit boleh dikembalikan bukan semasa (aa) (35,728)
Pengukuran semula pinjaman (bb) 198
Bahagian daripada FRS 139 kesan kewangan dalam syarikat bersekutu 485
(35,045)
Syarikat Pada
1.1.2010
RM’000
Keuntungan tertahan
Pengukuran semula pinjaman (bb) 198
(aa) Sebelum 1 Januari 2010, deposit boleh dikembalikan Kumpulan yang dikelaskan di bawah aset bukan semasa
telah dicatat pada kos. Dengan penerimaan pakai FRS 139, deposit ini diiktiraf sekarang pada awalnya pada nilai
saksamanya, yang dianggarkan dengan mendiskaunkan aliran tunai dijangka dengan menggunakan kadar faedah
pasaran semasa pinjaman dengan risiko dan tempoh yang sama. Selepas pengiktirafan awal, deposit boleh
dikembalikan diukur pada kos dilunaskan. Pendapatan faedah diiktiraf dalam keuntungan atau kerugian dengan
menggunakan kaedah faedah berkesan.
(bb) Sebelum 1 Januari 2010, pinjaman Kumpulan dan Syarikat telah dicatat pada kos. Dengan penerimaan pakai FRS
139, pinjaman ini sekarang diiktiraf pada awalnya pada nilai saksamanya dan diukur semula pada kos dilunas
pada setiap tempoh pelaporan berikutnya.
(cc) Sebelum 1 Januari 2010, pinjaman atau pendahuluan antara syarikat telah dicatat pada kos. Dengan penerimaan
pakai FRS 139, pinjaman dan pendahuluan antara syarikat diiktiraf sekarang pada awalnya pada nilai saksamanya,
yang dianggarkan melalui pendiskaunan jangkaan aliran tunai dengan menggunakan kadar faedah pasaran semasa
pinjaman dengan risiko dan tempoh serupa. Selepas pengiktirafan awal, pinjaman dan pendahuluan ini diukur
pada kos dilunaskan.
Di samping itu, pinjaman dan pendahuluan tertentu yang mana penyelesaian tidak dirancang tidak juga
berkemungkinan akan berlaku pada masa hadapan boleh diramal adalah, pada amnya, sebahagian daripada
pelaburan bersih Syarikat dalam anak-anak syarikat, dinyatakan pada kos tolak sebarang kerugian rosot nilai
dalam penyata kewangan Syarikat. Selaras dengan itu, penerimaan pakai FRS 139 tidak mempunyai sebarang
kesan kewangan ke atas penyata kewangan berhubung dengan pinjaman atau pendahuluan ini.
(dd) Syarikat sebelum ini telah menyatakan secara jelas bahawa ia mengambil kira kontrak jaminan kewangan
kemudahan perbankan diberikan kepada anak–anak syarikat dan pihak-pihak berkaitan sebagai kontrak insurans
dan akan menggunakan FRS 4 kepada kontrak jaminan kewangan sedemikian. Selaras dengan itu, penerimaan
pakai FRS 139 tidak mempunyai sebarang kesan kewangan ke atas penyata kewangan berhubung dengan kontrak
jaminan kewangan yang dikeluarkan oleh Syarikat kepada anak-anak syarikat dan pihak-pihak berkaitannya.
Kontrak jaminan kewangan dikeluarkan dinyatakan sebagai liabiliti luar jangka di bawah Nota 41 kepada
penyata kewangan.
laporan tahunan
2010
185

(a) (iii) Semua kesan kewangan ini diiktiraf sebagai pelarasan kepada baki pembukaan keuntungan tertahan pada 1 Januari 2010
atas penerimaan pakai FRS 139. Angka-angka Perbandingan tidak diselaraskan/ diwakili selaras dengan
pengecualian diberikan dalam piawaian ini.
(b) Kumpulan tidak menggunakan secara terdahulu piawaian-piawaian perakaunan dan tafsiran-tafsiran (termasuk pindaan-
pindaan berbangkit) yang telah dikeluarkan oleh Lembaga Piawaian Perakaunan Malaysia (MASB) tetapi masih belum berkuat
kuasa bagi tahun kewangan semasa:
FRS dan Tafsiran IC (Termasuk Pindaan-pindaan Berbangkit) Tarikh Berkuat

Kuasa
FRS 1 (Disemak) Penerimaan Pakai Kali Pertama Piawaian Pelaporan Kewangan 1 Julai 2010
FRS 3 (Disemak) Kombinasi Perniagaan 1 Julai 2010
FRS 124 (Disemak) Pendedahan Pihak Berkaitan 1 Januari 2012
FRS 127 (Disemak) Penyata Kewangan Disatukan dan Berasingan 1 Julai 2010
Pindaan kepada FRS 1 (Disemak): Pengecualian Terhad daripada Perbandingan FRS 7

Pendedahan bagi Penerima Pakai Kali Pertama 1 Januari 2011
Pindaan kepada FRS 1: Pengecualian Tambahan bagi Penerima Pakai Kali Pertama 1 Januari 2011
Pindaan kepada FRS 2: Skop FRS 2 dan FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada FRS 2: Urus Niaga Bayaran berdasarkan Saham diselesaikan secara Tunai Kumpulan 1 Januari 2011
Pindaan kepada FRS 5: Rancangan untuk Menjual Kepentingan Mengawal dalam Anak Syarikat 1 Julai 2010
Pindaan kepada FRS 7: Menambah Baik Pendedahan mengenai Instrumen Kewangan 1 Januari 2011
Pindaan kepada FRS 138: Pindaan-pindaan Berbangkit Timbul daripada FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada Tafsiran IC 9: Skop Tafsiran IC9 dan FRS 3 (Disemak) 1 Julai 2010
Pindaan kepada Tafsiran IC 14: Prabayaran Keperluan Pendanaan Minimum 1 Julai 2011
Tafsiran IC 4 Menentukan Sama Ada Pengaturan Mengandungi Pajakan 1 Januari 2011
Tafsiran IC 12 Pengaturan Konsesi Perkhidmatan 1 Julai 2010
Tafsiran IC 15 Perjanjian bagi Pembinaan Harta Tanah 1 Januari 2012
Tafsiran IC 16 Lindungan Nilai Pelaburan Bersih dalam Operasi Asing 1 Julai 2010
Tafsiran IC 17 Pengagihan Aset Bukan Tunai kepada Pemilik 1 Julai 2010
Tafsiran IC 18 Pemindahan Aset daripada Pelanggan 1 Januari 2011
Tafsiran IC 19 Membezakan Liabiliti Kewangan dengan Instrumen Ekuiti 1 Julai 2011
Penambahbaikan Tahunan kepada FRS (2010) 1 Januari 2011


(b) Piawaian-piawaian perakaunan dan tafsiran-tafsiran (termasuk pindaan-pindaan berbangkit) di atas adalah tidak berkenaan
dengan operasi Kumpulan kecuali seperti berikut:
(i) FRS 3 (Disemak) memperkenalkan perubahan ketara kepada perakaunan bagi kombinasi perniagaan, kedua-dua pada
tarikh pengambilalihan dan selepas pengambilalihan, dan memerlukan penggunaan lebih besar nilai saksama. Selain
daripada itu, semua kos urus niaga, selain daripada kos terbitan saham dan hutang, akan dijadikan belanja
sebagaimana ditanggung. Piawaian disemak ini akan dipakai secara prospektif dan dengan yang demikian tidak akan
mempunyai sebarang kesan kewangan ke atas penyata kewangan Kumpulan bagi tahun kewangan semasa tetapi
mungkin memberi kesan ke atas perakaunan bagi urus niaga atau pengaturan masa hadapan.
(ii) FRS 127 (Disemak) memerlukan perakaunan bagi perubahan dalam kepentingan pemilikan oleh kumpulan dalam anak
syarikat, manakala mengekalkan kawalan, untuk diiktiraf sebagai urus niaga ekuiti. Apabila kumpulan kehilangan
kawalan anak syarikat, mana-mana kepentingan dikekalkan dalam bekas anak syarikat akan diukur pada nilai saksama
dengan keuntungan atau kerugian diiktiraf dalam keuntungan atau kerugian. Piawaian disemak juga memerlukan semua
kerugian boleh dikaitkan dengan kepentingan minoriti untuk diserap oleh kepentingan minoriti dan bukannya oleh
syarikat induk. Kumpulan akan menggunakan perubahan ketara FRS 127 (Disemak) secara prospektif dan dengan yang
demikian tidak akan mempunyai sebarang kesan kewangan ke atas penyata kewangan Kumpulan bagi tahun kewangan
semasa tetapi mungkin memberi kesan ke atas perakaunan urus niaga atau pengaturan masa hadapannya.
4. POLISI-POLISI PERAKAUNAN PENTING
(a) Anggaran dan Pertimbangan Perakaunan Penting
Anggaran dan penghakiman dinilai secara berterusan oleh para pengarah dan pengurusan dan adalah berdasarkan sejarah
pengalaman dan faktor-faktor yang lain, termasuk jangkaan mengenai peristiwa masa hadapan yang dipercayai sebagai
munasabah di bawah keadaan. Anggaran dan penghakiman yang melibatkan penggunaan polisi perakaunan dan
pendedahan Kumpulan, dan mempunyai risiko ketara dalam menyebabkan pelarasan material kepada jumlah penyimpanan
aset, liabiliti, pendapatan dan perbelanjaan dibincangkan di bawah:
(i) Susut Nilai Hartanah, Loji dan Peralatan
Anggaran bagi nilai baki, hayat berguna dan caj susut nilai bagi hartanah, loji dan peralatan adalah berdasarkan
faktor-faktor komersial yang mungkin berubah dengan ketara berpunca daripada inovasi teknikal dan tindakan pesaing
sebagai tindak balas kepada keadaan pasaran.
Kumpulan menjangkakan bahawa nilai baki hartanah, loji dan peralatannya adalah tidak ketara. Akibat daripada itu,
nilai baki tidak boleh diambil kira bagi pengiraan jumlah boleh disusutnilaikan.
Perubahan dalam tahap penggunaan dijangka dan perkembangan teknologi mungkin memberi kesan ke atas hayat
berguna ekonomi dan nilai baki aset ini, dengan yang demikian caj susut nilai pada masa hadapan mungkin disemak.
(ii) Cukai Pendapatan
Terdapat urus niaga dan pengiraan tertentu untuk yang mana penentuan cukai muktamad mungkin berbeza daripada
anggaran awal. Kumpulan mengiktiraf liabiliti cukai berdasarkan pemahamannya mengenai undang-undang cukai dan
anggaran-anggaran sedia ada mengenai sama ada cukai sedemikian akan menjadi kena dibayar dalam urusan biasa
perniagaan. Di mana keputusan akhir mengenai perkara-perkara ini berbeza daripada yang diiktiraf pada awalnya,
perbezaan sedemikian akan memberi kesan ke atas cukai pendapatan dan peruntukan cukai tertunda dalam tempoh
dalam mana penentuan sedemikian dibuat.
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4. POLISI-POLISI PERAKAUNAN PENTING (SAMB)
(a) Anggaran dan Pertimbangan Perakaunan Penting (Samb)
(iii) Rosot Nilai Aset Bukan Kewangan
Di mana jumlah boleh diperolehi semula aset ditentukan berdasarkan nilai dalam penggunaan daripada unit penghasilan
tunai untuk yang mana aset diperuntukkan, Kumpulan diperlukan untuk membuat anggaran daripada aliran tunai masa
hadapan dijangka daripada unit penghasilan tunai dan juga untuk menggunakan kadar diskaun yang bersesuaian untuk
menentukan nilai semasa aliran tunai tersebut.
(iv) Peruntukan bagi Inventori
Semakan dibuat secara berkala oleh pengurusan ke atas inventori yang rosak, lapuk dan bergerak perlahan. Semakan
ini memerlukan penghakiman dan anggaran. Perubahan yang mungkin dalam anggaran ini mungkin menyebabkan
semakan kepada penilaian inventori.
(v) Pajakan Kendalian
Kumpulan menandatangani Perjanjian Jualan dan Pajakan Balik bagi jualan kapal anak–anak syarikat dengan pihak
ketiga. Selepas itu, kapal telah dipajak semula oleh anak syarikat daripada pihak ketiga bagi tempoh pajakan berkisar
dari lima (5) hingga sepuluh (10) tahun bermula dari tarikh penghantaran kapal atau pembiayaan diperolehi, dengan
opsyen untuk membeli balik kapal pada akhir tempoh pajakan utama sekiranya pihak ketiga memutuskan untuk menjual
kapal dalam tempoh pajakan. Para pengarah berpendapat bahawa pengaturan pajakan hendaklah dianggap sebagai
pajakan kendalian memandangkan pada masa ini pihak pengurusan tidak berhasrat untuk membeli balik kapal pada
akhir tempoh pajakan utama dan tempoh pajakan tidak membentuk bahagian utama hayat ekonomi kapal.
(vi) Rosot Nilai Penghutang Perdagangan dan Lain-lain Penghutang
Kerugian rosot nilai diiktiraf apabila terdapat bukti objektif bahawa aset kewangan merosot. Pengurusan secara khusus
menyemak aset kewangan pinjaman dan penghutangnya dan menganalisis sejarah hutang lapuk, penumpuan
pelanggan, kepercayaan kredit pelanggan, trend ekonomi semasa dan perubahan dalam terma-terma bayaran
pelanggan apabila membuat pertimbangan untuk menilai kecukupan peruntukan bagi kerugian kemerosotan nilai. Di
mana terdapat bukti objektif kemerosotan, jumlah dan pemasaan aliran tunai masa hadapan dianggarkan berdasarkan
sejarah pengalaman kerugian bagi aset dengan ciri-ciri risiko kredit yang serupa. Sekiranya jangkaan adalah berbeza
daripada anggaran, perbezaan sedemikian akan memberi kesan ke atas ke nilai penyimpanan penghutang.
(vii) Rosot Nilai Muhibah
Muhibah diuji terhadap rosot nilai secara tahunan dan pada lain-lain masa apabila petunjuk sedemikian wujud. Ini
memerlukan pengurusan untuk menganggarkan jangkaan aliran tunai masa hadapan daripada unit penghasilan tunai
kepada mana muhibah diperuntukkan dan untuk menggunakan kadar diskaun yang sesuai untuk menentukan nilai
semasa aliran tunai tersebut. Aliran tunai masa hadapan adalah amat sensitive kepada margin kasar yang dibajet,
anggaran kadar pertumbuhan dan kadar diskaun yang digunakan. Sekiranya jangkaan adalah berbeza daripada
anggaran, perbezaan sedemikian akan memberi kesan kepada nilai penyimpanan muhibah.

4. POLISI-POLISI PERAKAUNAN PENTING (SAMB)
(a) Anggaran dan Pertimbangan Perakaunan Penting (Samb)
(viii) Anggaran Nilai Saksama bagi Aset dan Liabiliti Kewangan Tertentu
Kumpulan membawa aset dan liabiliti kewangan tertentu pada nilai saksama, yang memerlukan penggunaan ekstensif
anggaran perakaunan dan pertimbangan. Manakala komponen-komponen penting pengukuran nilai saksama telah
ditentukan dengan menggunakan bukti objektif boleh ditentusahkan, jumlah perubahan dalam nilai saksama akan
berbeza sekiranya Kumpulan menggunakan metadologi penilaian berbeza. Sebarang perubahan dalam nilai saksama
aset dan liabiliti ini akan menjejaskan keputusan dan/atau ekuiti.
(b) Asas Penyatuan
Penyata kewangan disatukan termasuk penyata kewangan Syarikat dan anak-anak syarikatnya bagi tahun kewangan
sehingga 31 Disember 2010.
Anak syarikat ditakrifkan sebagai sebuah syarikat dalam mana syarikat induk mempunyai kuasa, secara langsung atau
tidak langsung, untuk melaksanakan kawalan ke atas polisi kewangan dan kendaliannya untuk mendapat manfaat
daripada kegiatannya.
Semua anak syarikat disatukan dengan menggunakan kaedah pembelian. Di bawah kaedah pembelian, keputusan anak-anak
syarikat diambil alih atau dilupuskan dimasukkan dari tarikh pengambilalihan atau sehingga tarikh pelupusan. Pada tarikh
pengambilalihan, nilai saksama aset bersih anak-anak syarikat ditentukan dan nilai ini ditunjukkan dalam penyata kewangan
disatukan. Kos pengambilalihan diukur pada agregat nilai saksama, pada tarikh pertukaran, aset-aset yang diberikan, liabiliti
ditanggung atau diandaikan, dan instrumen ekuiti diterbitkan oleh Kumpulan sebagai pertukaran bagi kawalan syarikat
diambil alih, campur sebarang kos secara langsung boleh dikaitkan kepada kombinasi perniagaan.
Urus niaga, baki dan laba tidak direalisasikan dalam kumpulan akan dihapus kira; kerugian tidak direalisasikan juga dihapus
kira melainkan kos tidak boleh diperolehi semula. Di mana perlu, pelarasan dibuat kepada penyata kewangan anak-anak
syarikat untuk memastikan keseragaman polisi-polisi perakaunan Kumpulan.
Kepentingan minoriti dalam penyata kedudukan kewangan disatukan terdiri daripada bahagian minoriti daripada nilai
saksama aset dan liabiliti syarikat diambil alih pada tarikh pengambilalihan dan bahagian minoriti daripada pergerakan
dalam ekuiti syarikat diambil alih.
Kepentingan minoriti dibentangkan dalam ekuiti dalam penyata kedudukan kewangan, secara berasingan daripada ekuiti
pemegang-pemegang saham Syarikat, dan didedahkan secara berasingan dalam penyata pendapatan komprehensif. Urus
niaga dengan kepentingan minoriti diakaunkan sebagai urus niaga dengan pemilik-pemilik. Laba atau kerugian atas
pelupusan kepada kepentingan minoriti diiktiraf secara langsung dalam ekuiti.
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4. POLISI PERAKAUNAN PENTING (SAMB)
(c) Muhibah
Muhibah mewakili lebihan nilai saksama balasan pembelian ke atas bahagian Kumpulan daripada nilai saksama aset, liabiliti
dan liabiliti kontigen boleh dikenal pasti anak-anak syarikat pada tarikh pengambilalihan.
Muhibah diukur pada kos tolak kerugian rosot nilai, sekiranya ada. Nilai dibawa muhibah disemak bagi kemerosotan secara
tahunan. Nilai kemerosotan muhibah diiktiraf dengan serta-merta dalam keuntungan atau kerugian. Kerugian rosot nilai
diiktiraf bagi muhibah tidak diterbalikkan dalam tempoh berikutnya.
Sekiranya, selepas penilaian semula, kepentingan Kumpulan dalam nilai saksama aset bersih boleh dikenal pasti anak-anak
syarikat melebihi kos kombinasi perniagaan, lebihan diiktiraf sebagai pendapatan dengan serta-merta dalam keuntungan
atau kerugian.
(d) Mata Wang Kefungsian dan Asing
(i) Mata Wang Kefungsian dan Pembentangan
Penyata kewangan individu setiap entiti dalam Kumpulan dibentangkan dalam mata wang daripada persekitaran
ekonomi utama dalam mana entiti beroperasi, yang merupakan mata wang kefungsian.
Penyata kewangan disatukan dibentangkan dalam Ringgit Malaysia yang merupakan mata wang kefungsian dan
pembentangan Syarikat.
(ii) Urus Niaga dan Baki
Urus niaga dalam mata wang asing ditukar kepada mata wang kefungsian masing-masing atas pengiktirafan awal,
dengan menggunakan kadar pertukaran yang menyamai dengan yang terdapat pada tarikh urus niaga. Aset dan liabiliti
monetari pada akhir tempoh pelaporan diterjemahkan pada kadar yang terdapat pada tarikh tersebut. Aset dan liabiliti
bukan monetari diterjemahkan dengan menggunakan kadar pertukaran yang wujud apabila nilai-nilai telah ditentukan.
Semua perbezaan pertukaran diiktiraf dalam keuntungan atau kerugian.
(iii) Operasi Asing
Aset dan liabiliti operasi asing diterjemahkan kepada Ringgit Malaysia pada kadar pertukaran yang terdapat pada
akhir tempoh pelaporan. Hasil dan perbelanjaan operasi asing diterjemahkan pada kadar pertukaran yang terdapat
pada tarikh urus niaga. Semua perbezaan pertukaran timbul daripada terjemahan dimasukkan secara langsung kepada
lain-lain pendapatan komprehensif dan dikumpulkan dalam ekuiti di bawah rizab terjemahan. Atas pelupusan operasi
asing, jumlah terkumpul diiktiraf dalam lain-lain pendapatan komprehensif berkaitan dengan operasi asing tertentu
dikelaskan semula daripada ekuiti kepada keuntungan atau kerugian.
Pelarasan muhibah dan nilai saksama timbul daripada pengambilalihan operasi asing dianggap sebagai aset dan liabiliti
operasi asing dan direkodkan dalam mata wang kefungsian operasi asing dan diterjemahkan pada kadar penutupan
pada akhir tempoh pelaporan.

(e) Instrumen Kewangan
Instrumen kewangan diiktiraf dalam penyata kedudukan kewangan apabila Kumpulan telah menjadi pihak kepada peruntukan
kontrak instrumen.
Instrumen kewangan dikelaskan sebagai liabiliti atau ekuiti selaras dengan isi pengaturan kontrak. Faedah, dividen, laba dan
kerugian berkaitan dengan instrumen kewangan dikelaskan sebagai liabiliti, dilaporkan sebagai perbelanjaan atau
pendapatan. Pengagihan kepada pemegang-pemegang instrumen kewangan dikelaskan sebagai ekuiti dicaj secara langsung
kepada ekuiti.
Instrumen kewangan diseimbangkan apabila Kumpulan mempunyai hak boleh dikuatkuasakan secara sah untuk
mengimbangkan dan berhasrat untuk menyelesaikan sama ada atas dasar bersih atau untuk merealiskan aset dan
menyelesaikan liabiliti secara serentak.
Instrumen kewangan diiktiraf pada awalnya, pada nilai saksamanya campur, dalam hal instrumen kewangan bukan pada nilai
saksama melalui keuntungan atau kerugian, kos urus niaga yang secara langsung boleh dikaitkan kepada pemerolehan atau
terbitan instrumen kewangan.
Instrumen kewangan diiktiraf dalam penyata kedudukan kewangan dinyatakan dalam penyata polisi individu berkaitan dengan
setiap perkara.
(i) Aset Kewangan
Atas pengiktirafan awal, aset kewangan dikelaskan sama ada sebagai aset kewangan pada nilai saksama melalui
keuntungan atau kerugian, pinjaman dan penghutang, pelaburan dipegang sehingga matang, atau aset kewangan
tersedia untuk jualan, sebagaimana sesuai.
• Aset Kewangan pada Nilai Saksama Melalui Keuntungan atau Kerugian
Aset kewangan dikelaskan sebagai aset kewangan pada nilai saksama melalui keuntungan atau kerugian apabila
aset kewangan sama ada dipegang untuk perdagangan atau ditetapkan untuk menghapus kira atau secara ketara
mengurangkan ketidakselarasan pengukuran atau pengiktirafan yang mungkin timbul sebaliknya. Derivatif juga
dikelaskan sebagai dipegang untuk perdagangan (kecuali bagi derivatif yang ditetapkan dan instrumen lindungan
nilai berkesan).
Aset kewangan pada nilai saksama melalui keuntungan atau kerugian dinyatakan pada nilai saksama, dengan
sebarang laba atau kerugian timbul atas pengukuran semula diiktiraf dalam keuntungan atau kerugian. Pendapatan
dividen daripada kategori aset kewangan ini diiktiraf dalam keuntungan atau kerugian apabila hak Kumpulan untuk
menerima bayaran dibuktikan.
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(e) Instrumen Kewangan (Samb)
(i) Aset Kewangan (Samb)
• Pelaburan dipegang sehingga matang
Pelaburan dipegang sehingga matang adalah aset kewangan bukan derivatif dengan bayaran tetap atau boleh
ditentukan dan kematangan tetap yang pengurusan mempunyai hasrat dan keupayaan positif untuk pegang
sehingga matang. Pelaburan dipegang sehingga matang diukur pada kos dilunaskan dengan menggunakan kaedah
faedah berkesan tolak sebarang kerugian rosot nilai, dengan hasil diiktiraf atas dasar kadar hasil berkesan.
• Aset Kewangan Pinjaman dan Penghutang
Penghutang perdagangan dan lain-lain penghutang yang mempunyai bayaran tetap atau boleh ditentukan yang
tidak disebut harga dalam pasaran aktif dikelaskan sebagai aset kewangan pinjaman dan penghutang. Aset
kewangan pinjaman dan penghutang diukur pada kos dilunas dengan menggunakan kaedah faedah berkesan,
tolak sebarang kerugian rosot nilai. Pendapatan faedah diiktiraf dengan menggunakan kadar faedah berkesan,
kecuali bagi penghutang jangka pendek dengan pengiktirafan faedah akan menjadi tidak material.
• Aset Kewangan Tersedia Untuk Jualan
Aset kewangan tersedia untuk jualan adalah aset kewangan bukan derivatif yang ditetapkan dalam kategori ini atau
tidak dikelaskan dalam sebarang kategori lain.
Selepas pengiktirafan awal, aset kewangan tersedia untuk jualan diukur semula pada akhir tempoh pelaporan.
Laba dan kerugian timbul daripada perubahan dalam nilai saksama diiktiraf dalam lain-lain pendapatan
komprehensif dan dikumpulkan dalam rizab nilai saksama, kecuali bagi kerugian rosot nilai. Atas penyahiktirafan,
laba atau kerugian terkumpul sebelum ini dalam rizab nilaisaksama dikelaskan semula daripada ekuiti ke dalam
keuntungan atau kerugian.
Dividen ke atas instrumen ekuiti tersedia untuk jualan diiktiraf dalam keuntungan atau kerugian apabila hak
Kumpulan untuk menerima bayaran dibuktikan.
Pelaburan dalam instrumen ekuiti yang nilai saksama tidak boleh diukur dengan betul diukur pada kos tolak
kerugian rosot nilai, sekiranya ada.
(ii) Liabiliti Kewangan
Semua liabiliti kewangan pada awalnya direkodkan pada nilai saksama campur kos urus niaga boleh dikaitkan secara
langsung dan kemudiannya diukur pada kos dilunaskan dengan menggunakan kaedah faedah berkesan selain daripada
yang dikategorikan sebagai nilai saksama melalui keuntungan atau kerugian.
Nilai saksama melalui kategori keuntungan atau kerugian terdiri daripada liabiliti kewangan yang sama ada dipegang
untuk perdagangan atau ditetapkan untuk menghapus kira atau mengurangkan dengan ketara ketidakselarasan
pengukuran atau pengiktirafan yang akan sebaliknya timbul. Derivatif juga dikelaskan sebagai dipegang untuk
perdagangan melainkan ia ditetapkan sebagai lindungan nilai.
(iii) Instrumen Ekuiti
Saham-saham biasa dikelaskan sebagai ekuiti. Kos pertambahan boleh dikaitkan secara langsung dengan terbitan
saham atau opsyen baru ditunjukkan dalam ekuiti sebagai penolakan, tolak cukai, daripada perolehan.
Dividen ke atas saham-saham biasa diiktiraf sebagai liabiliti apabila diluluskan untuk pengasingan.

(iv) Waran
Perolehan, jumlah kos terbitan, daripada penerbitan waran atau diperuntukkan selaras dengan FRSIC Konsensus 9 -
Perakaunan bagi Terbitan Hak dengan Waran Percuma dikreditkan kepada rizab waran yang tidak boleh diagih. Rizab
waran dipindahkan kepada akaun premium saham atas pelaksanaan waran dan rizab waran berhubung dengan waran
tidak dilaksanakan pada penamatan waran akan dipindahkan kepada perolehan tertahan.
(v) Kegiatan Lindung Nilai
Kumpulan menandatangani pelbagai instrumen kewangan derivatif bagi menguruskan pendedahannya kepada risiko
kadar faedah dan kadar pertukaran asing, termasuk swap mata wang bersilang dan swap kadar faedah.
Kumpulan menetapkan derivatif tertentu sama ada sebagai lindungan nilai bagi nilai saksama aset dan liabiliti diiktiraf
atau komitmen kukuh (lindungan nilai bagi nilai saksama), lindungan nilai urus niaga ramalan amat berkemungkinan
atau lindungan nilai risiko mata wang asing komitmen kukuh (lindungan nilai aliran tunai), atau lindungan nilai pelaburan
bersih dalam operasi asing.
• Perakaunan lindungan nilai
Kumpulan menetapkan instrumen lindungan nilai tertentu, yang termasuk derivatif, derivatif dan bukan derivatif
terbenam berhubung dengan risiko mata wang asing, sama ada lindungan nilai bagi nilai saksama, lindungan nilai
aliran tunai, atau lindungan nilai pelaburan bersih dalam operasi asing. Lindungan nilai risiko pertukaran asing ke
atas komitmen kukuh diakaunkan sebagai lindungan nilai aliran tunai.
Pada permulaan perhubungan lindungan nilai, entiti mendokumenkan perhubungan di antara instrumen lindungan
nilai dan perkara dilindung nilai, bersama dengan objektif pengurusan risikonya dan strateginya bagi
melaksanakan pelbagai urus niaga lindung nilai. Selanjutnya, pada permulaan lindungan nilai dan atas dasar
berterusan, Kumpulan mendokumenkan sama ada instrumen lindungan nilai adalah amat berkesan dalam
mengimbangkan perubahan dalam nilai saksama atau aliran tunai perkara dilindung nilai.
• Lindungan nilai bagi nilai saksama
Perubahan dalam nilai saksama derivatif yang ditetapkan dan layak sebagai lindungan nilai bagi nilai saksama
diiktiraf dalam keuntungan atau kerugian dengan serta-merta, bersama dengan sebarang perubahan dalam nilai
saksama aset atau liabiliti dilindung nilai yang boleh dikaitkan dengan risiko dilindung nilai. Perubahan dalam
nilai saksama instrumen melindung nilai dan perubahan dalam perkara dilindung nilai boleh dikaitkan dengan
risiko dilindung nilai diiktiraf dalam penyata pendapatan komprehensif berkaitan dengan perkara dilindung nilai.
Perakaunan lindungan nilai dihentikan apabila Kumpulan membatalkan perkaitan lindungan nilai, apabila instrumen
melindung nilai tamat atau dijual, ditamatkan, atau dilaksanakan, atau apabila ia tidak lagi layak bagi perakaunan
lindungan nilai. Pelarasan nilai saksama kepada jumlah penyimpanan perkara dilindung nilai timbul daripada
risiko dilindung nilai dilupuskan kepada keuntungan atau kerugian dari tarikh tersebut.
• Lindungan nilai aliran tunai
Bahagian berkesan daripada perubahan dalam nilai saksama derivatif yang ditetapkan dan layak sebagai
lindungan nilai aliran tunai diiktiraf dalam lain-lain pendapatan komprehensif. Laba atau keuntungan atau kerugian
berkaitan dengan bahagian tidak berkesan diiktiraf dengan serta-merta dalam keuntungan atau kerugian.
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(v) Kegiatan Lindung Nilai (Samb)
• Lindungan nilai aliran tunai (Samb)
Selepas itu, keuntungan atau kerugian terkumpul diiktiraf dalam lain-lain pendapatan komprehensif dikelaskan
semula daripada ekuiti kepada keuntungan atau kerugian dalam tempoh atau tempoh-tempoh yang sama dalam
yang mana aliran tunai ramalan dilindung nilai melibatkan keuntungan atau kerugian. Sekiranya perkara
dilindung nilai bukan merupakan aset atau liabiliti kewangan, laba atau kerugian berkaitan diiktiraf dalam lain-
lain pendapatan komprehensif dikeluarkan daripada ekuiti dan dimasukkan dalam jumlah asal aset atau liabiliti.
Walau bagaimanapun, kerugian diiktiraf dalam lain-lain pendapatan komprehensif yang tidak boleh diperolehi
semula dalam satu atau lebih tempoh pada masa hadapan dikelaskan semula daripada ekuiti ke dalam
Perakaunan lindungan nilai tidak didiskaunkan secara prospektif apabila Kumpulan membatalkan perkaitan
lindungan nilai, apabila instrumen melindung nilai tamat atau dijual, ditamatkan, atau dilaksanakan, atau ia tidak
lagi layak bagi perakaunan lindungan nilai. Sebarang laba atau kerugian terkumpul dalam ekuiti pada masa
tersebut kekal dalam ekuiti dan diiktiraf apabila urus niaga ramalan pada akhirnya diiktiraf dalam keuntungan
atau kerugian. Apabila urus niaga ramalan tidak lagi dijangka akan berlaku, laba atau kerugian terkumpul dalam
ekuiti diiktiraf dengan serta-merta dalam keuntungan atau kerugian.
• Lindungan nilai instrumen bersih dalam operasi asing
Lindungan nilai pelaburan bersih dalam operasi asing diakaunkan sama dengan lindungan nilai aliran tunai.
Sebarang laba atau kerugian ke atas instrumen dilindung nilai berkaitan dengan bahagian berkesan daripada
lindungan nilai diiktiraf dalam lain-lain pendapatan komprehensif dan dikumpulkan dalam rizab terjemahan mata
wang asing. Laba atau kerugian berkaitan dengan bahagian tidak berkesan diiktiraf dengan serta-merta dalam
Laba atau kerugian terkumpul dalam lain-lain pendapatan komprehensif dikelaskan semula daripada ekuiti ke
dalam keuntungan atau kerugian atas pelupusan operasi asing.
(f) Pelaburan dalam Anak-anak Syarikat
Pelaburan dalam anak-anak syarikat dinyatakan pada kos dalam penyata kedudukan kewangan Syarikat, dan disemak bagi
rosot nilai pada akhir tempoh pelaporan sekiranya peristiwa atau perubahan dalam keadaan menunjukkan bahawa nilai
penyimpanannya mungkin tidak boleh diperolehi semula.
Atas pelupusan pelaburan dalam sebuah anak syarikat, perbezaan antara perolehan pelupusan bersih dan jumlah
penyimpanan pelaburan diiktiraf dalam keuntungan atau kerugian.

(g) Pelaburan dalam Syarikat Bersekutu
Syarikat bersekutu adalah entiti dalam mana Kumpulan mempunyai kepentingan ekuiti jangka panjang dan di mana ia
melaksanakan pengaruh penting ke atas polisi kewangan dan operasi.
Pelaburan dalam syarikat bersekutu diakaunkan di bawah kaedah ekuiti, berdasarkan penyata kewangan syarikat bersekutu
disediakan sehingga 31 Disember 2010. Bahagian Kumpulan daripada keuntungan selepas pengambilalihan dimasukkan
dalam penyata pendapatan komprehensif disatukan dan kepentingan Kumpulan dalam syarikat bersekutu dinyatakan dalam
penyata kedudukan kewangan disatukan pada kos campur bahagian Kumpulan daripada keuntungan tertahan dan lain-lain
rizab selepas pengambilalihan Kumpulan.
Laba tidak direalis atas urus niaga di antara Kumpulan dan syarikat berkaitan dihapus kira sehingga tahap kepentingan
Kumpulan dalam syarikat bersekutu. Kerugian tidak direalis dihapus kira melainkan kos tidak boleh diperolehi semula.
(h) Hartanah, Loji dan Peralatan
Hartanah, loji dan peralatan dinyatakan pada kos tolak susut nilai terkumpul atau pelunasan dan kerugian rosot nilai,
sekiranya ada.
Susut nilai atau pelunasan dikira di bawah kaedah garisan lurus untuk menghapus kira jumlah boleh disusutnilaikan aset
sepanjang anggaran hayat bergunanya. Susut nilai aset tidak berhenti apabila aset menjadi terbiar atau tidak lagi digunakan
secara aktif melainkan aset disusutnilai sepenuhnya. Kadar tahunan utama digunakan untuk tujuan ini adalah:
Kapal 4% - 7%
Peralatan kapal 4% - 10%
Limbungan kering 20%
Bangunan pegangan pajak 2%
Loji dan mesin 10%
Peralatan kabin, medan dan bengkel kerja 10% - 20%
Kenderaan bermotor 20%
Peralatan, perabot dan kelengkapan pejabat 10% - 20%

Lain-lain 10% - 50%
Modal kerja dalam pelaksanaan tidak disusutnilaikan.
Modal kerja dalam pelaksanaan mewakili aset sedang dalam pembinaan, dan yang belum sedia untuk kegunaan komersial
pada akhir tempoh pelaporan. Modal kerja dalam pelaksanaan dinyatakan pada kos, dan dipindahkan kepada kategori
aset berkenaan dan disusutnilaikan selaras dengannya apabila aset siap dibina dan sedia untuk kegunaan komersial. Kos
modal kerja dalam pelaksanaan termasuk kos langsung, perbelanjaan berkaitan dan kos faedah ke atas pinjaman dimasukkan
untuk membiayai pembinaan atau pembelian aset sehingga tarikh yang aset siap dibina dan sedia untuk digunakan.
Kos limbungan kering berhubung dengan kos pembaikan dan ubahsuaian utama ditanggung ke atas kapal yang meningkatkan
hayat berguna kapal.
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(h) Hartanah, Loji dan Peralatan (Samb)
Kaedah susut nilai, hayat berguna dan nilai baki disemak, dan diselaraskan sekiranya sesuai, pada akhir setiap tempoh
pelaporan untuk memastikan agar jumlah, kaedah dan tempoh susut nilai adalah konsisten dengan anggaran sebelumnya
dan corak penggunaan dijangka ke atas manfaat ekonomi masa hadapan yang terbentuk dalam perkara hartanah, loji
dan peralatan.
Kos berikutnya dimasukkan dalam jumlah penyimpanan aset atau diiktiraf sebagai aset berasingan, sebagaimana sesuai,
hanya apabila kos ditanggung dan ia berkemungkinan bahawa manfaat ekonomi masa hadapan berkaitan dengan aset
akan mengalir ke dalam Kumpulan dan kos aset boleh diukur dengan betul. Jumlah penyimpanan alat-alat ganti tidak lagi
diiktiraf. Kos penservisan harian peralatan diiktiraf dalam keuntungan atau kerugian sebagaimana ditanggung. Kos juga
terdiri daripada anggaran awal pelesapan dan pemindahan aset dan pemulihan tapak di atas mana aset terletak bila mana
Kumpulan bertanggungjawab untuk tanggung apabila aset dibeli, sekiranya terpakai.
Perkara hartanah, loji dan peralatan dinyahiktiraf atas pelupusan atau apabila tiada manfaat ekonomi masa hadapan
dijangka daripada penggunaannya. Sebarang laba atau kerugian timbul daripada penyahiktirafan aset dimasukkan dalam
keuntungan atau kerugian dalam tahun aset dinyahiktiraf.
(i) Rosot Nilai
(i) Kemerosotan Aset Kewangan
Semua aset kewangan (selain daripada yang dikategorikan pada nilai saksama melalui keuntungan atau kerugian),
dinilai pada akhir setiap tempoh pelaporan sama ada terdapat sebarang bukti objektif rosot nilai berpunca daripada
satu atau lebih peristiwa yang mempunyai kesan ke atas anggaran aliran tunai masa hadapan aset. Bagi instrumen
ekuiti, rosot nilai ketara atau berpanjangan dalam nilai saksama di bawah kosnya dianggap sebagai bukti objektif
rosot nilai.
Kerugian rosot nilai berhubung dengan pelaburan dipegang sehingga matang dan aset kewangan pinjaman dan
penghutang diiktiraf dalam keuntungan atau kerugian dan diukur sebagai perbezaan di antara amaun
penyimpanan aset dan nilai semasa anggaran aliran tunai masa hadapan, didiskaunkan pada kadar faedah
berkesan asal aset kewangan.
Kerugian rosot nilai berhubung dengan aset kewangan tersedia untuk jualan diiktiraf dalam keuntungan atau kerugian
dan diukur sebagai perbezaan di antara kosnya (tolak sebarang bayaran pokok dan pelunasan) dan nilai saksama
semasanya, tolak sebarang kerugian rosot nilai diiktiraf sebelum ini dalam rizab nilai saksama. Selain daripada itu,
kerugian terkumpul diiktiraf dalam lain-lain pendapatan komprehensif dan dikumpulkan dalam ekuiti di bawah rizab nilai
saksama, dikelaskan semula daripada ekuiti kepada keuntungan atau kerugian.
Kecuali bagi instrumen ekuiti tersedia untuk jualan, sekiranya, dalam tempoh berikutnya, jumlah kerugian rosot nilai
berkurangan dan pengurangan boleh dikaitkan secara objektif dengan peristiwa yang berlaku selepas kemerosotan
diiktiraf, kerugian rosot nilai diiktiraf sebelum ini diterbalikkan melalui keuntungan atau kerugian sehingga tahap bahawa
jumlah penyimpanan pelaburan pada tarikh rosot nilai diterbalikkan tidak melebihi kos yang wujud jika rosot nilai tidak
diiktiraf. Berhubung dengan instrumen ekuiti tersedia untuk jualan, kerugian rosot nilai diiktiraf sebelum ini dalam
keuntungan atau kerugian tidak diterbalikkan melalui keuntungan atau kerugian. Sebarang peningkatan nilai saksama
berikutan kerugian rosot nilai diiktiraf dalam lain-lain pendapatan komprehensif.

(i) Rosot Nilai (Samb)
(ii) Rosot Nilai Aset Bukan Kewangan
Nilai dibawa aset, selain daripada yang mana FRS 136 – Rosot nilai Aset tidak terpakai, disemak pada akhir tempoh
pelaporan bagi rosot nilai apabila terdapat petunjuk bahawa aset mungkin merosot. Kemerosotan diukur dengan
membandingkan nilai dibawa aset dengan jumlah boleh diperolehi semulanya. Jumlah boleh diperolehi semula aset
adalah nilai saksama tolak kos jual dan nilai dalam penggunaannya yang mana lebih tinggi, yang diukur dengan
merujuk kepada aliran tunai masa hadapan didiskaunkan.
Kerugian rosot nilai diiktiraf dalam keuntungan atau kerugian dengan serta-merta.
Berhubung dengan aset selain daripada muhibah, dan apabila terdapat perubahan dalam anggaran digunakan untuk
menentukan jumlah boleh diperolehi semula, peningkatan ketara dalam jumlah boleh diperolehi semula aset dianggap
sebagai keterbalikan daripada kerugian rosot nilai sebelum ini dan diiktiraf sehingga tahap jumlah dibawa aset yang
mungkin telah ditentukan (tolak pelunasan dan susut nilai) sekiranya tiada kerugian rosot nilai telah diiktiraf. Keterbalikan
diiktiraf dalam keuntungan atau kerugian dengan serta-merta.
(j) Pajakan Kendalian
Pajakan aset di mana bahagian ketara daripada risiko dan ganjaran pemilikan dikekalkan oleh pemajak dikelaskan sebagai
pajakan kendalian. Bayaran dibuat di bawah pajakan kendalian (tolak sebarang insentif diterima daripada pemajak) diiktiraf
dalam keuntungan atau kerugian atas dasar garisan lurus sepanjang tempoh pajakan. Apabila pajakan kendalian ditamatkan
sebelum tempoh pajakan telah luput, sebarang bayaran diperlukan untuk dibuat kepada pemajak melalui penalti diiktiraf
sebagai perbelanjaan dalam tempoh dalam mana penamatan berlaku.
(k) Aset di bawah Sewa Beli
Aset dibeli di bawah sewa beli dipermodalkan dalam penyata kewangan dan disusutnilaikan selaras dengan polisi yang
dikemukakan dalam Nota 4(h) di atas. Setiap bayaran sewa beli diperuntukkan antara liabiliti dan caj kewangan untuk
mencapai kadar berkala yang tetap ke atas baki kewangan yang belum dijelas. Caj kewangan diiktiraf dalam keuntungan
atau kerugian sepanjang tempoh-tempoh perjanjian sewa beli masing-masing.
(l) Inventori
Inventori dinyatakan pada kos dan nilai boleh direalis bersih yang mana lebih rendah. Kos ditentukan atas dasar masuk
dahulu, keluar dahulu, dan terdiri daripada harga pembelian dan perbelanjaan sampingan yang ditanggung dalam membawa
masuk inventori ke kawasan dan keadaan semasanya.
Nilai boleh direalis bersih mewakili anggaran harga jualan tolak anggaran kos penyiapan dan anggaran kos diperlukan
untuk membuat jualan.
Di mana perlu, peruntukan sewajarnya dibuat bagi semua perkara lapuk, rosak dan bergerak perlahan.
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(m) Jumlah Terhutang Oleh/Kepada Pelanggan Kontrak
Jumlah terhutang oleh/ kepada pelanggan kontrak dinyatakan pada kos campur keuntungan boleh diagih kepada kontrak
dalam pelaksanaan tolak bil progres dan peruntukan bagi kerugian boleh diramal, sekiranya ada. Kos termasuk bahan
langsung, buruh dan overhed berkenaan.
(n) Peruntukan
Peruntukan diiktiraf apabila Kumpulan mempunyai obligasi semasa akibat daripada peristiwa lepas, apabila ia
berkemungkinan bahawa aliran keluar sumber yang membentuk manfaat ekonomi akan diperlukan untuk menyelesaikan
obligasi, dan apabila anggaran boleh dipercayai mengenai jumlah boleh dibuat. Peruntukan disemak pada akhir setiap
tempoh pelaporan dan diselaraskan untuk menunjukkan anggaran terbaik. Di mana nilai kesan masa wang adalah material,
peruntukan adalah nilai semasa anggaran perbelanjaan yang diperlukan untuk menyelesaikan obligasi.
(o) Cukai Pendapatan
Cukai pendapatan bagi tahun terdiri daripada cukai semasa dan cukai tertunda.
Cukai semasa adalah jumlah dijangka cukai pendapatan perlu dibayar berhubung dengan keuntungan boleh dicukai bagi
tahun dan diukur dengan menggunakan kadar cukai yang telah digubal atau sebahagian besarnya digubal pada akhir
tempoh pelaporan.
Cukai tertunda diperuntukkan sepenuhnya, dengan menggunakan kaedah liabiliti, ke atas semua perbezaan sementara timbul
antara asas cukai aset dan liabiliti dan jumlah penyimpanannya dalam penyata kewangan.
Liabiliti cukai tertunda diiktiraf bagi semua perbezaan sementara boleh dicukai selain daripada yang timbul daripada muhibah
atau lebihan kepentingan syarikat mengambil alih dalam nilai saksama bersih aset, liabiliti dan liabiliti luar jangkaan syarikat
diambil alih yang boleh dikenal pasti ke atas kos kombinasi perniagaan atau daripada pengiktirafan awal aset atau liabiliti
dalam urus niaga yang bukan merupakan kombinasi perniagaan dan pada masa urus niaga, tidak menjejaskan keuntungan
perakaunan mahupun keuntungan boleh dicukai.
Aset cukai tertunda diiktiraf bagi semua perbezaan sementara boleh ditolak, kerugian cukai tidak diguna dan kredit cukai tidak
diguna sehingga tahap yang ia berkemungkinan bahawa keuntungan boleh dicukai masa hadapan akan tersedia terhadap
mana perbezaan sementara boleh ditolak, kerugian cukai tidak diguna dan kredit cukai tidak diguna boleh digunakan. Jumlah
penyimpanan aset cukai tertunda disemak pada akhir setiap tempoh pelaporan dan dikurangkan sehingga tahap yang ia tidak
lagi berkemungkinan bahawa keuntungan boleh dicukai masa hadapan yang mencukupi akan tersedia untuk membolehkan
semua atau sebahagian aset cukai tertunda akan digunakan.
Aset dan liabiliti cukai tertunda diukur pada kadar cukai yang dijangka akan terpakai dalam tempoh apabila aset direalis
atau liabiliti diselesaikan, berdasarkan kadar cukai yang telah digubal atau sebahagian besarnya digubal pada akhir
tempoh pelaporan.
Aset dan liabiliti cukai tertunda diseimbangkan apabila terdapat hak boleh dikuatkuasakan secara sah untuk menolak aset
cukai semasa terhadap liabiliti cukai tertunda dan apabila cukai pendapatan tertunda berkait dengan pihak berkuasa cukai
yang sama.

(o) Cukai Pendapatan (Samb)
Cukai tertunda berkaitan dengan perkara diiktiraf di luar keuntungan atau kerugian diiktiraf di luar keuntungan atau kerugian.
Perkara cukai tertunda diiktiraf berhubung kait dengan urus niaga mendasari sama ada dalam lain-lain pendapatan
komprehensif atau secara langsung dalam ekuiti dan cukai tertunda timbul daripada kombinasi perniagaan dimasukkan
dalam muhibah terhasil atau lebihan daripada kepentingan syarikat mengambil alih dalam nilai saksama bersih aset, liabiliti
dan liabiliti luar jangka dikenal pasti syarikat diambil alih ke atas kos kombinasi perniagaan.
(p) Tunai dan Setara Tunai
Tunai dan setara tunai terdiri daripada tunai dalam tangan, baki bank, deposit tuntutan, deposit disandarkan kepada institusi
kewangan, overdraf bank dan pelaburan jangka pendek, amat mudah tunai yang sedia boleh ditukar kepada jumlah tunai
diketahui dan yang tertakluk kepada risiko tidak ketara perubahan dalam nilai. Untuk tujuan penyata aliran tunai, tunai dan
setara tunai dibentangkan tolak deposit disandarkan.
(q) Manfaat Kakitangan
(i) Manfaat Jangka Pendek
Upah, gaji, cuti tahunan berbayar, cuti sakit, bonus dan manfaat bukan monetari adalah diakrukan dalam tempoh dalam
mana perkhidmatan berkaitan diberikan oleh kakitangan Kumpulan.
(ii) Pelan Caruman Dinyatakan
Caruman Kumpulan kepada pelan caruman dinyatakan diiktiraf dalam keuntungan atau kerugian dalam tempoh dalam
mana ia berkait. Sebaik sahaja caruman telah dibayar, Kumpulan tidak mempunyai liabiliti selanjutnya berhubung
dengan pelan caruman dinyatakan.
(r) Kos Pinjaman
Kos pinjaman, secara langsung boleh dikaitkan kepada pembelian dan pembinaan hartanah, loji dan peralatan
dipermodalkan sebagai sebahagian daripada kos aset-aset tersebut, sehingga masa tertentu apabila aset sedia untuk
kegunaan atau jualannya yang dihasratkan. Permodalan kos pinjaman digantung dalam tempoh-tempoh dilanjutkan dalam
mana pembangunan aktif terganggu.
Semua kos pinjaman lain diiktiraf dalam keuntungan atau kerugian sebagai perbelanjaan dalam tempoh di mana ia ditanggung.
(s) Liabiliti Luar Jangka
Liabiliti luar jangka adalah obligasi yang mungkin timbul daripada peristiwa-peristiwa lepas dan yang kewujudannya hanya
boleh disahkan apabila berlakunya satu atau lebih peristiwa masa hadapan tidak pasti yang bukan secara keseluruhannya
dalam kawalan Kumpulan. Ia juga merupakan obligasi semasa timbul daripada peristiwa lepas yang tidak diiktiraf disebabkan
ia tidak berkemungkinan bahawa aliran keluar sumber ekonomi akan diperlukan atau jumlah obligasi tidak boleh diukur
dengan betul.
Liabiliti luar jangka tidak diiktiraf tetapi dinyatakan dalam nota-nota kepada penyata kewangan. Apabila perubahan dalam
kemungkinan aliran keluar berlaku menjadikan aliran keluar sebagai mungkin berlaku, ia kemudiannya akan diiktiraf sebagai
liabiliti/peruntukan.
laporan tahunan
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(t) Pihak Berkaitan
Pihak berkaitan adalah berkait kepada entiti:
(i) secara langsung, atau tidak langsung melalui satu atau lebih perantara, pihak yang:
• mengawal, dikawal oleh, atau di bawah kawalan bersama dengan, entiti (ini termasuk syarikat induk, anak-anak
syarikat dan anak-anak syarikat bersama);
• mempunyai kepentingan dalam entiti yang memberikannya pengaruh penting ke atas entiti; atau
• mempunyai kawalan bersama ke atas entiti;
(ii) pihak adalah syarikat bersekutu entiti;
(iii) pihak adalah sebuah usaha sama dalam mana entiti adalah pengusaha;
(iv) pihak adalah ahli personel pengurusan penting entiti atau syarikat induknya;
(v) pihak adalah ahli keluarga terdekat mana-mana individu yang dirujuk dalam (i) atau (iv);
(vi) pihak adalah entiti yang dikawal, secara bersama dikawal atau secara ketara dipengaruhi oleh, atau untuk yang mana
kuasa mengundi ketara dalam entiti sedemikian terletak, secara langsung atau tidak langsung, dengan mana-mana
individu yang dirujuk dalam (iv) atau (v); atau
(vii) pihak adalah ahli pelan manfaat selepas pekerjaan bagi manfaat kakitangan entiti, atau mana-mana entiti yang
merupakan pihak berkaitan entiti.
Ahli-ahli keluarga terdekat individu yang merupakan ahli keluarga yang mungkin dijangka akan mempengaruhi, atau akan
dipengaruhi oleh, individu tersebut dalam urus niaga mereka dengan entiti.
(u) Segmen Beroperasi
Segmen beroperasi adalah komponen Kumpulan yang terlibat dalam kegiatan perniagaan daripada yang mana ia mungkin
perolehi hasil dan menanggung perbelanjaan, termasuk hasil dan perbelanjaan yang berkait dengan urus niaga dengan
mana-mana komponen Kumpulan yang lain. Keputusan kendalian segmen beroperasi disemak secara kerap oleh ketua
pembuat keputusan untuk membuat keputusan mengenai sumber-sumber yang akan diperuntukkan kepada segmen dan
menilai prestasinya, dan untuk yang mana maklumat kewangan berasingan tersedia.
(v) Pengiktirafan Hasil
(i) Pendapatan Kapal Dicarter
Pendapatan kapal dicarter diiktiraf selepas memberikan perkhidmatan dan apabila keputusan urus niaga boleh
dianggarkan dengan betul. Jika sekiranya keputusan urus niaga tidak boleh dianggarkan dengan betul, hasil diiktiraf
sehingga tahap perbelanjaan ditanggung boleh diperolehi semula.

(v) Pengiktirafan Hasil (Samb)
(ii) Hasil Kontrak
Hasil ke atas kontrak diiktiraf atas peratusan daripada kaedah penyiapan melainkan keputusan kontrak tidak boleh
ditentukan dengan betul, dalam hal mana hasil ke atas kontrak hanya diiktiraf sehingga tahap kos kontrak ditanggung
yang boleh diperolehi semula. Kerugian boleh diramal, sekiranya ada, diperuntukkan sepenuhnya bila dan apabila ia
boleh dipastikan secara munasabah bahawa kontrak akan berakhir dengan kerugian.
Tahap penyiapan ditentukan berdasarkan perkadaran yang kos kontrak tanggung bagi kerja dilaksanakan sehingga kini
berbanding jumlah kos kontrak yang dianggarkan.
(iii) Pendapatan dividen
Pendapatan dividen daripada pelaburan diiktiraf apabila hak untuk menerima bayaran dividen dibuktikan.
(iv) Yuran Pengurusan
Yuran pengurusan diiktiraf atas dasar akruan.
(v) Pendapatan Sewa
Pendapatan sewa diiktiraf atas dasar akruan.
(vi) Pendapatan faedah
Pendapatan faedah diiktiraf atas dasar akruan, berdasarkan kadar hasil berkesan ke atas pelaburan. Pendapatan faedah
ke atas pembayaran lewat diiktiraf berasaskan penerimaan.
laporan tahunan
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201

5. PELABURAN DALAM ANAK-ANAK SYARIKAT

Syarikat
2010 2009
RM'000 RM'000
Saham tidak disebut harga, pada kos:

– dalam Malaysia 285,574 285,519
– luar Malaysia 21,897 21,897
307,471 307,416
Tolak: Kerugian rosot nilai (10) (10)
307,461 307,406
Butir-butir mengenai anak-anak syarikat adalah seperti berikut:

Kepentingan Ekuiti
Negara Berkesan
Nama Syarikat Pemerbadanan 2010 2009 Kegiatan Utama
% %
Intra Oil Services Berhad Malaysia 100 100 Penyediaan perkhidmatan

sokongan marin bagi
industri minyak dan gas.
Ampangship Marine Sdn Bhd Malaysia 100 100 Penyediaan perkhidmatan

sokongan marin bagi
Perdana Marine * Republik Singapura 100 100 Penyediaan perkhidmatan

Offshore Pte Ltd sokongan marin bagi
Petra Offshore Limited Wilayah 100 100 Penyediaan perniagaan

Persekutuan Labuan pemajakan di Labuan.
Perdana Mercury Limited Republik Marshall Islands 100 100 Penyediaan perkhidmatan
sokongan marin bagi
Perdana Venus Limited Republik Marshall Islands 100 100 Penyediaan perkhidmatan
sokongan marin bagi
Petra Marine Australia Komanwel Australia 55 55 Penyediaan perkhidmatan

Pty Ltd sokongan marin bagi
Perdana Jupiter Limited Wilayah 100 100 Penyediaan perkhidmatan

Persekutuan Labuan sokongan marin bagi

5. PELABURAN DALAM ANAK-ANAK SYARIKAT (SAMB)
Kepentingan Ekuiti
Negara Berkesan
% %
Odin Explorer The British 100 100 Lengai.

Navigation Limited Virgin Islands
Geoseas Technologies The British 51 51 Lengai.

Limited Virgin Islands
Petra Teknik Sdn Bhd Malaysia 100 100 Lengai.
Petra Asia Limited Wilayah 100 100 Lengai.

Persekutuan Labuan
Perdana Neptune Wilayah 100 100 Lengai.

Limited Persekutuan Labuan
Perdana Pluto Limited* Wilayah 100 100 Lengai.

Persekutuan Labuan
Perdana Saturn Limited* Wilayah 100 100 Lengai.

Persekutuan Labuan
Perdana Nautika Malaysia 55 – Lengai.

Sdn. Bhd.
Kepentingan dipegang melalui Intra Oil Services Berhad
Osam Marine Sdn Bhd Malaysia 100 100 Lengai.
Asiaway Sdn Bhd Malaysia 100 100 Lengai.
Kepentingan dipegang melalui Osam Marine Sdn Bhd
Malawi Marine Sdn Bhd Malaysia 100 100 Lengai.
Kovan Marine Sdn Bhd Malaysia 100 100 Lengai.
* Tidak diaudit oleh Tetuan. Crowe Horwath.
Dalam tahun kewangan, Syarikat telah menggabungkan anak syarikat baru yang mana butir-butir dinyatakan dalam Nota 34
kepada penyata kewangan.
Dalam tahun kewangan sebelumnya:
(a) Syarikat mengambil alih empat (4) anak syarikat yang baru diperbadankan yang mana butir-butir dinyatakan dalam Nota
34 kepada penyata kewangan; dan
(b) Syarikat melupuskan pemegangan sahamnya dalam Petra Energy Berhad (“PEB”) yang menyebabkan pemegangan saham
Syarikat berkurangan daripada 60% kepada 29.59%. Butir-butir mengenai pelupusan dinyatakan dalam Nota 6 dan Nota
35 kepada penyata kewangan.
laporan tahunan
2010
203

6. PELABURAN DALAM SYARIKAT BERSEKUTU
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Saham disebut harga di Malaysia, pada kos 19,233 19,233 19,233 19,233
Bahagian keuntungan selepas pengambilalihan 68,702 71,086 – –
Bahagian kesan kewangan syarikat bersekutu

dalam menerima pakai FRS 139 485 – – –
88,420 90,319 19,233 19,233
Nilai pasaran saham disebut harga 89,435 95,205 89,435 95,205
Bahagian keputusan dalam syarikat bersekutu adalah berdasarkan penyata kewangan tidak diaudit syarikat bersekutu.
Butir-butir mengenai syarikat bersekutu adalah seperti berikut:
Kepentingan Ekuiti
Negara Berkesan
% %
Petra Energy Berhad Malaysia 29.59 29.59 Pemegangan pelaburan.
Pada 10 September 2009, Syarikat melupuskan 10.5 juta saham biasa bernilai RM0.50 sesaham dalam Petra Energy Berhad
(“PEB”) pada harga RM1.53 setiap saham melalui penempatan persendirian. Agregat balasan jualan berjumlah lebih kurang
RM16.1 juta, mengakibatkan kerugian atas pelupusan sebanyak lebih kurang RM0.6 juta kepada Kumpulan. Selepas pelupusan,
kepentingan ekuiti Syarikat dalam PEB berkurangan daripada 60% kepada 54.62%.

6. PELABURAN DALAM SYARIKAT BERSEKUTU (SAMB)
Pada 11 Disember 2009, Syarikat melupuskan tambahan 48.8 juta saham biasa bernilai RM0.50 sesaham dalam PEB pada harga
RM1.91 setiap saham bagi balasan jualan sebanyak lebih kurang RM93.2 juta, mengakibatkan keuntungan atas pelupusan
sebanyak lebih kurang RM13.3 juta kepada Kumpulan. Akibat daripada pelupusan, kepentingan ekuiti Syarikat dalam PEB
berkurangan selanjutnya daripada 54.62% kepada 29.59%. Akibat daripada itu, PEB menjadi syarikat bersekutu Syarikat.
Ringkasan maklumat kewangan tidak diaudit syarikat bersekutu adalah seperti berikut:
2010 2009
RM'000 RM'000
Aset dan liabiliti

Aset bukan semasa 354,225 369,073
Aset semasa 355,581 344,327
Jumlah aset 709,806 713,400
Liabiliti semasa 265,530 271,344

Liabiliti bukan semasa 137,263 136,423
Jumlah liabiliti 402,793 407,767
Keputusan
Hasil 633,935 504,141
Keuntungan bersih bagi tahun kewangan 2,681 15,482
laporan tahunan
2010
205

7. HARTANAH, LOJI DAN PERALATAN
Perbezaan Kerugian
Pada Dihapus Terjemahan Caj Rosot Pada
1.1.2010 Tambahan Pelupusan Kira Pembatalan Pemindahan Mata Wang Susut Nilai Nilai 31.12.2010
Kumpulan
Nilai Buku Bersih
Kapal 220,995 3,151 (138,510) – – 200,785 (13,847) (19,144) – 253,430

Peralatan kapal 12,230 3,794 – – – 10,795 (1,961) (2,173) – 22,685
Limbungan kering 38,615 6,757 – – – – (3,583) (13,598) (2,982) 25,209
Bangunan pegangan pajak 1,702 – – – – – – (37) – 1,665
Peralatan kabin, medan dan
bengkel kerja 112 – – (9) – – – (18) – 85
Kenderaan bermotor 113 430 – – – – (2) (76) – 465
Peralatan, perabot dan
kelengkapan pejabat 2,835 306 (5) – – – (3) (733) – 2,400
Modal kerja dalam
pelaksanaan 183,094 176,621 (8,256) – (30,385) (211,580) (15,333) – – 94,161
Lain-lain 1,002 286 – – – – (6) (448) – 834
460,698 191,345 (146,771) (9) (30,385) – (34,735) (36,227) (2,982) 400,934
Dikelaskan
Pelupusan Semula
Kepentingan Kepada Aset
Dalam Bukan Semasa
Anak Pengambilalihan Dipegang Untuk Perbezaan
Pada Syarikat Anak Jualan Terjemahan Caj Pada
1.1.2009 Tambahan Pelupusan Pemindahan (Nota 35) Syarikat (Nota 17) Mata Wang Susut Nilai 31.12.2009
Kumpulan
Nilai Buku Bersih
Kapal 303,632 124,234 (318,351) 452,921 (228,928) – (86,361) (1,717) (24,435) 220,995
Peralatan kapal 11,325 4,521 (2,486) – – – – (240) (890) 12,230
Limbungan kering 29,622 38,687 – – (14,598) – – (727) (14,369) 38,615
Bangunan pegangan pajak 6,362 – – – (4,485) – – – (175) 1,702
Loji dan mesin 3,495 101 (10) – (2,827) – – – (759) –
Peralatan kabin, medan dan
bengkel kerja 8,393 3,417 – – (6,212) – – 16 (5,502) 112
Kenderaan bermotor 1,650 132 – – (1,124) 31 – 2 (578) 113
kelengkapan pejabat 1,367 2,941 (14) – (964) 300 – 4 (799) 2,835
Modal kerja dalam
pelaksanaan 289,899 354,755 – (452,921) – – – (8,639) – 183,094
Lain-lain 3,323 617 (116) – (1,591) 214 – 4 (1,449) 1,002
659,068 529,405 (320,977) – (260,729) 545 (86,361) (11,297) (48,956) 460,698


7. HARTANAH, LOJI DAN PERALATAN (SAMB)
Kerugian
Pada Susut Nilai Rosot Nilai Buku
Kos Terkumpul Nilai Bersih
Kumpulan RM'000 RM'000 RM’000 RM'000
Pada 31.12.2010
Kapal 337,729 (84,299) – 253,430

Peralatan Kapal 25,833 (3,148) – 22,685
Limbungan Kering 64,416 (36,225) (2,982) 25,209
Bangunan Pegangan Pajak 1,860 (195) – 1,665
Loji Dan Mesin 10 (10) – –
Peralatan Kabin, Medan Dan Bengkel Kerja 148 (63) – 85
Kenderaan Bermotor 745 (280) – 465
Peralatan, Perabot Dan Kelengkapan Pejabat 4,161 (1,761) – 2,400
Modal Kerja Dalam Pelaksanaan 94,161 – – 94,161
Lain-Lain 3,215 (2,381) – 834
532,278 (128,362) (2,982) 400,934
Pada 31.12.2009
Kapal 292,299 (71,304) – 220,995

Peralatan kapal 13,379 (1,149) – 12,230
Limbungan kering 67,625 (29,010) – 38,615
Bangunan pegangan pajak 1,860 (158) – 1,702
Loji dan mesin 10 (10) – –
Peralatan kabin, medan dan bengkel kerja 159 (47) – 112
Kenderaan bermotor 318 (205) – 113
Peralatan, perabot dan kelengkapan pejabat 3,872 (1,037) – 2,835
Modal kerja dalam pelaksanaan 183,094 – – 183,094
Lain-lain 2,942 (1,940) – 1,002
565,558 (104,860) – 460,698

laporan tahunan
2010
207

Pada Caj Pada

1.1.2010 Tambahan Pelupusan Susut Nilai 31.12.2010
RM'000 RM'000 RM'000 RM'000 RM'000
Syarikat
Nilai Buku Bersih
Bangunan pegangan pajak 1,702 – – (37) 1,665

Kenderaan bermotor – 430 – (50) 380
kelengkapan pejabat 188 76 – (83) 181
Modal kerja dalam pelaksanaan 6,045 6,228 (8,409) – 3,864
Lain-lain 602 104 – (275) 431
8,537 6,838 (8,409) (445) 6,521
Pada Caj Pada

1.1.2009 Tambahan Pemindahan Susut Nilai 31.12.2009
RM'000 RM'000 RM'000 RM'000 RM'000
Nilai Buku Bersih
Bangunan pegangan pajak 1,739 – – (37) 1,702

kelengkapan pejabat 267 6 – (85) 188
Modal kerja dalam pelaksanaan 40,141 2,873 (36,969) – 6,045
Lain-lain 894 10 1 (303) 602
43,041 2,889 (36,968) (425) 8,537
Pada Susut Nilai Nilai Buku

Kos Terkumpul Bersih
RM'000 RM'000 RM'000
Pada 31.12.2010
Bangunan pegangan pajak 1,860 (195) 1,665

Kenderaan bermotor 430 (50) 380
Peralatan, perabot dan kelengkapan pejabat 554 (373) 181
Modal kerja dalam pelaksanaan 3,864 – 3,864
Lain-lain 1,755 (1,324) 431
8,463 (1,942) 6,521

Syarikat
Pada 31.12.2009
Bangunan Pegangan Pajak 1,860 (158) 1,702

Peralatan, Perabot Dan Kelengkapan Pejabat 478 (290) 188
Modal Kerja Dalam Pelaksanaan 6,045 – 6,045
Lain-lain 1,651 (1,049) 602
10,034 (1,497) 8,537


Modal kerja dalam pelaksanaan adalah berhubung dengan kapal dalam pembinaan dan kren belum bersedia untuk kegunaan
komersial pada akhir tempoh pelaporan.
Dalam tahun kewangan sebelumnya, Syarikat memindahkan kren yang belum bersedia untuk kegunaan komersial kepada anak-
anak syarikatnya pada nilai buku saksamanya.
Dalam tahun kewangan, Kumpulan telah membatalkan kapal dalam pembinaan berjumlah RM30,385,261.
Termasuk dalam nilai buku bersih hartanah, loji dan peralatan pada akhir tempoh pelaporan adalah aset-aset berikut yang dibeli
di bawah terma-terma sewa beli:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Kenderaan bermotor 465 113 380 –
Termasuk dalam modal kerja dalam pelaksanaan adalah perbelanjaan faedah dipermodalkan dalam tahun kewangan sebanyak
RM658,160 (2009 – RM4,738,997).
Nilai buku bersih hartanah, loji dan peralatan pada akhir tempoh pelaporan yang disandarkan sebagai cagaran bagi penerbitan
bon dan nota berjangka sederhana adalah seperti berikut:
Syarikat
2010 2009
RM'000 RM'000
Kapal, termasuk perbelanjaan limbungan kering dipermodalkan 167,423 208,580

laporan tahunan
2010
209

8. JUMLAH TERHUTANG OLEH/(KEPADA) ANAK-ANAK SYARIKAT
Syarikat
2010 2009
RM'000 RM'000
Jumlah terhutang oleh:
Bukan semasa
Kuasa Pinjaman (a) 400,949 353,576
Semasa
Bukan perdagangan (b) 4,333 4,084
Peruntukan bagi kerugian rosot nilai:
– pada 1 Januari (4,057) (5,001)
– Tambahan (5) –
– kemasukan kira semula – 944
– pada 31 Disember (4,062) (4,057)
271 27
401,220 353,603
Jumlah terhutang kepada:

Semasa
Bukan perdagangan (b) (123,839) (95,862)
(a) Penyelesaian jumlah bukan semasa terhutang oleh anak-anak syarikat adalah tidak dirancang tidak juga berkemungkinan
akan berlaku pada masa hadapan boleh dijangka. Memandangkan jumlah ini, pada dasarnya, merupakan sebahagian
daripada pelaburan bersih Syarikat dalam anak syarikat, ianya dinyatakan pada kos tolak kerugian rosot nilai terkumpul.
(b) Jumlah terhutang oleh/ (kepada) anak-anak syarikat bersifat bukan dagangan, tanpa faedah, tidak bercagar dan perlu
dibayar balik atas tuntutan. Jumlah akan diselesaikan secara tunai.
9. DEPOSIT BOLEH DIKEMBALIKAN
Deposit ditempatkan dengan pemilik-pemilik kapal bagi pajakan kapal jangka panjang bagi tempoh-tempoh berkisar dari lima (5)
hingga sepuluh (10) tahun.
Selepas penerimaan pakai FRS 139 dalam tahun kewangan, Kumpulan menetapkan deposit boleh dikembalikan bukan
semasanya sebagai aset kewangan pinjaman dan penghutang, diukur pada kos dilunaskan dengan menggunakan kaedah
faedah berkesan. Kesan kewangan ke atas penerimaan pakai piawaian perakaunan baru ini dinyatakan dalam Nota 3(a)(iii)
kepada penyata kewangan.

10. ASET TIDAK KETARA
Kumpulan
2010 2009
RM'000 RM'000
Muhibah:
Pada 1 Januari 27,507 27,507
Pengambilalihan kepentingan tambahan dalam anak syarikat – 1,434
Pelupusan kepentingan dalam anak syarikat (Nota 35) – (1,434)
Pada 31 Disember 27,507 27,507
Muhibah telah diperuntukkan bagi pengujian rosot nilai kepada unit penghasilan tunai Kumpulan (“CGU”).
Pada akhir tempoh pelaporan, Kumpulan menilai amaun muhibah yang boleh diperoleh semula, dan menentukan bahawa tiada
rosot nilai muhibah.
Jumlah yang boleh diperolehi semula CGU ditentukan berdasarkan pengiraan nilai dalam penggunaan. Pengiraan ini menggunakan
unjuran aliran tunai selepas cukai berdasarkan bajet kewangan yang diluluskan oleh pengurusan meliputi tempoh lima (5) tahun.
Andaian-andaian utama yang digunakan bagi pengiraan nilai dalam penggunaan adalah seperti berikut:
2010 2009
Margin kasar 6% – 44% 8% – 50%

Kadar pertumbuhan 1% 1% – 5%
Kadar diskaun 11% 11%
Pengurusan menentukan margin kasar dibajet berdasarkan prestasi lepas dan jangkaannya ke atas pembangunan pasaran. Kadar
pertumbuhan digunakan adalah berdasarkan pencapaian tahun-tahun lepas dan kontrak-kontrak yang dijangka akan diperolehi.
Kadar diskaun digunakan adalah pracukai dan menunjukkan risiko-risiko khusus berkaitan dengan segmen-segmen berkenaan.
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11. ASET CUKAI TERTUNDA
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Pada 1 Januari 46 62 46 46
Pelupusan kepentingan dalam anak
syarikat (Nota 35) – (16) – –
Pada 31 Disember 46 46 46 46
Aset cukai tertunda terdiri daripada:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Lebihan susut nilai ke atas elaun modal 46 46 46 46
12. INVENTORI
Kumpulan
2010 2009
RM'000 RM'000
Barangan pakai habis, pada kos 6,908 5,533
Inventori mewakili bahan api, pelbagai minyak, alat ganti dan kad panggilan. Tidak ada inventori dinyatakan pada nilai boleh
direalis bersih.

13. PENGHUTANG
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Penghutang perdagangan 46,316 247,010 – –

Peruntukan bagi
kerugian rosot nilai:
– pada 1 Januari (297) (9,770) – –
– kemasukan kira semula – 555 – –
– pelupusan kepentingan
dalam anak syarikat 35 – 8,918 – –
– pada 31 Disember (297) (297) – –
46,019 246,713 – –
anak syarikat 35 – (200,444) – –
Penghutang perdagangan bersih 46,019 46,269 – –
Lain-lain penghutang,
deposit dan prabayaran 55,166 129,066 1,740 15,104
Peruntukan bagi kerugian
kerugian rosot nilai:
– Pada 1 Januari (1,572) (1,826) – –
– tambahan (320) – – –
– pelupusan kepentingan
dalam anak syarikat 35 – 254 – –
– pada 31 Disember (1,892) (1,572) – –
53,274 127,494 – –
anak syarikat 35 – (75,936) – –
Lain-lain penghutang deposit

dan prabayaran bersih 53,274 51,558 1,740 15,104
99,293 97,827 1,740 15,104
Tempoh kredit perdagangan biasa Kumpulan berkisar dari 30 hingga 90 hari. Lain-lain tempoh kredit dinilai dan diluluskan atas
dasar kes demi kes.
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213

14. JUMLAH TERHUTANG OLEH/(KEPADA) PIHAK-PIHAK BERKAITAN
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Baki perdagangan 30,798 29,887 – –
– pada 1 Januari – – – –
– tambahan (1,899) – – –
– pada 31 Disember (1,899) – – –
28,899 29,887 – –
Baki bukan perdagangan 10,516 8,307 259 259

– pada 1 Januari – – – –
– tambahan (2,801) – – –
– pada 31 Disember (2,801) – – –
7,715 8,307 259 259
36,614 38,194 259 259

Baki bukan perdagangan (33) (236) (32) (3)
Tempoh kredit biasa bagi jumlah dagangan berkisar di antara 60 hingga 90 hari.
Jumlah bukan dagangan adalah tidak bercagar, tanpa faedah dan perlu dibayar balik atas tuntutan. Jumlah terhutang akan
diselesaikan secara tunai.

15. JUMLAH TERHUTANG OLEH/(KEPADA) SYARIKAT BERSEKUTU
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000

Semasa – 51,649 – 51,649

Semasa – (1,975) – (1,975)
Dalam tahun kewangan lepas, jumlah terhutang oleh syarikat bersekutu bersifat bukan perdagangan, tidak bercagar dan tertakluk
kepada kadar faedah sebanyak 7.5% (2009 – 7.5%) setahun. Jumlah terhutang telah dijelaskan sepenuhnya dalam tahun kewangan.
Dalam tahun kewangan lepas, jumlah terhutang kepada syarikat berkaitan bersifat bukan perdagangan, tidak bercagar dan tanpa
faedah. Jumlah telah dijelaskan sepenuhnya dalam tahun kewangan.
16. DEPOSIT TETAP DENGAN BANK BERLESEN
Deposit tetap disandarkan kepada bank bagi kemudahan perbankan diberikan kepada Kumpulan adalah seperti berikut:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Deposit tetap disandarkan

sebagai cagaran (Nota 37) 31,538 144,306 29,060 144,306
Kadar faedah berkesan deposit tetap pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan Syarikat
2010 2009 2010 2009
% % % %
0.02 0.47 1.35 1.35

hingga hingga hingga hingga
Deposit tetap dengan bank berlesen 2.75 2.25 2.75 2.25
Deposit tetap mempunyai tempoh kematangan berkisar antara 1 hari hingga 182 hari (2009 – 1 hari hingga 182 hari).
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17. ASET BUKAN SEMASA DIKELASKAN SEMULA BAGAI DIPEGANG UNTUK JUALAN
Syarikat
2010 2009
RM'000 RM'000
Dikelaskan semula daripada hartanah, loji dan peralatan:

Kapal, pada kos – 86,361
Jualan kapal selesai dilaksanakan dalam tahun kewangan.
Termasuk dalam kos kapal dalam tahun kewangan lepas adalah pengeluaran bunga dikapitalisasikan berjumlah RM425,286.
18. MODAL SAHAM
Kumpulan/Syarikat
2010 2009 2010 2009
Bilangan Saham (‘000) RM'000 RM'000
Saham Biasa Bernilai
RM0.50 Sesaham:
Dibenarkan 1,000,000 1,000,000 500,000 500,000
Diterbitkan Dan Berbayar Penuh

Pada 1 Januari 297,600 297,600 148,800 148,800
Penempatan persendirian 29,760 – 14,880 –
Terbitan hak 122,760 – 61,380 –
Pada 31 Disember 450,120 297,600 225,060 148,800
Dalam tahun kewangan, Syarikat menambah modal sahamnya yang diterbitkan dan berbayar daripada RM148,800,000 kepada
RM225,060,000 melalui:
(i) penerbitan 29,760,000 saham biasa baru bernilai RM0.50 sesaham secara tunai untuk tujuan bayaran deposit carter dan
kegunaan modal kerja selaras dengan penempatan persendirian Syarikat pada harga langganan RM1.32 setiap saham pada
30 Jun 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Malaysia Securities
Berhad (“Bursa Securities”) pada 2 Julai 2010; dan
(ii) penerbitan 122,760,000 saham biasa baru bernilai RM0.50 sesaham secara tunai untuk tujuan bayaran balik pinjaman
dan kegunaan modal kerja selaras dengan terbitan hak boleh lepas Syarikat bersama dengan waran boleh lepas percuma
(“Terbitan Hak”) berasaskan tiga (3) saham hak (“Saham-saham Hak”) bagi setiap lapan (8) saham biasa sedia ada bernilai
RM0.50 sesaham dipegang dalam Syarikat bersama dengan 61,379,785 waran boleh lepas percuma (“Waran”)
berasaskan satu (1) Waran bagi setiap dua (2) Saham hak yang dilanggan pada harga terbitan RM0.59 setiap Saham Hak
pada 27 Oktober 2010. Saham-saham baru telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities
pada 1 November 2010.
Saham-saham biasa baru diterbitkan dalam tahun kewangan bertaraf pari passu dalam semua hubungan dengan saham-saham
biasa sedia ada Syarikat.

19. RIZAB
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Tidak boleh diagih:

Premium saham 82,892 60,377 82,892 60,377
Rizab waran (Nota 20) 11,048 – 11,048 –
Rizab penebusan modal – 2,127 – –
Rizab terjemahan (56,579) 56 – –
Rizab lindungan nilai aliran tunai (1,311) – – –
Lain-lain rizab modal 2,127 – – –
38,177 62,560 93,940 60,377
Boleh diagih:
Keuntungan tertahan 240,798 352,309 138,116 159,377
278,975 414,869 232,056 219,754
(a) Premium Saham
Premium saham tidak boleh diagih melalui dividen tunai dan boleh digunakan mengikut cara yang dikemukakan dalam
Seksyen 60(3) Akta Syarikat 1965.
(b) Rizab Lindungan Nilai Aliran Tunai
Rizab ini terdiri daripada bahagian berkesan laba dan kerugian terkumpul dan kerugian atas instrumen lindungan nilai
dianggap berkesan dalam lindungan nilai aliran tunai.
Kumpulan
2010 2009
RM'000 RM'000
Pada 1 Januari – –
Kerugian atas lindungan nilai aliran tunai (3,070) –
Dikelaskan semula kepada keuntungan atau kerugian – lain-lain perbelanjaan 1,759 –
Pada 31 Disember (1,311) –
(c) Keuntungan Tertahan
Tertakluk kepada persetujuan pihak berkuasa cukai, pada akhir tempoh pelaporan, Syarikat mempunyai:
(a) pendapatan dikecualikan cukai sebanyak lebih kurang RM88,260,517 (2009 – RM48,063,055) tersedia untuk tujuan
membayar dividen dikecualikan cukai; dan
(b) kredit cukai di bawah Seksyen 108 Akta Cukai Pendapatan 1967 untuk membuat bayaran dividen sebanyak lebih kurang
RM27,096,000 (2009 – RM31,560,000) daripada keuntungan tertahannya.
Pada akhir tempoh pelaporan, Syarikat tidak memilih bagi sistem cukai satu tier. Apabila baki kredit cukai digunakan
sepenuhnya, atau sebelum 31 Disember 2013 paling lewat, Syarikat secara automatik berpindah kepada sistem cukai
satu tier. Di bawah sistem cukai satu tier, cukai ke atas keuntungan Syarikat adalah cukai akhir, dan dividen diagihkan
kepada pemegang-pemegang saham akan dikecualikan cukai.
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217

19. RIZAB (SAMB)
(d) Rizab Penebusan Modal
Rizab ini mewakili penebusan saham keutamaan tidak mengundi bukan terkumpul boleh tebus oleh anak syarikat yang
diperbadankan di Wilayah Persekutuan Labuan.
Berikutan dengan perubahan kepada Akta Syarikat-Syarikat Labuan 1990 dengan tidak ada nilai tara saham dan tidak ada
keperluan modal saham minimum dalam tahun kewangan, rizab ini telah dikelaskan semula kepada lain-lain rizab modal.
20. RIZAB WARAN
Dalam tahun kewangan, Syarikat telah menerbitkan 61,379,785 Waran percuma selaras dengan Terbitan Hak sebagaimana
dinyatakan dalam Nota 18(ii) kepada penyata kewangan. Selaras dengan FRSIC Konsensus 9 – Perakaunan bagi Terbitan Hak
dengan Waran Percuma, perolehan daripada Terbitan Hak (tolak kos terbitan) telah diperuntukkan di antara saham-saham biasa
baru yang diterbitkan dan Waran berdasarkan nilai saksamanya pada tarikh terbitan.
Terma-terma penting Waran 2010/ 2015 adalah seperti berikut:
(a) Setiap Waran memberikan hak kepada pemilik berdaftar untuk melanggan satu (1) saham biasa baru bernilai RM0.50
sesaham dalam Syarikat pada bila-bila masa pada atau sebelum tarikh kematangan, 26 Oktober 2015, termasuk lima (5)
tahun dari tarikh terbitan Waran. Waran tidak dilaksanakan selepas tempoh pelaksanaan akan luput selepas itu dan berhenti
menjadi sah;
(b) Harga pelaksanaan Waran ditetapkan pada RM1.00 setiap Waran;
(c) Saham-saham biasa baru yang akan diterbitkan atas pelaksanaan Waran akan bertaraf pari passu dalam semua hubungan
dengan saham-saham biasa sedia ada Syarikat; dan
(d) Waran telah disenaraikan dan disebut harga pada Pasaran Utama Bursa Securities pada 1 November 2010.
Pergerakan Waran dalam tahun kewangan adalah seperti berikut:
Hak Atas Saham Biasa Bernilai RM0.50 Sesaham
Diterbitkan
Pada Pada
27.10.2010 Dilaksanakan Dibatalkan 31.12.2010
Bilangan Waran tidak dilaksanakan 61,379,785 – – 61,379,785


21. CUKAI TERTUNDA
Kumpulan
2010 2009
RM'000 RM'000
Pada 1 Januari 2,060 30,908

Perbezaan terjemahan (2) 14
Diiktiraf dalam keuntungan atau kerugian (Nota 31) 1,990 (1,017)
Pengambilalihan kepentingan tambahan dalam anak syarikat – 40
Pelupusan kepentingan dalam anak syarikat (Nota 35) – (27,885)
Pada 31 Disember 4,048 2,060
Liabiliti cukai tertunda boleh dikaitkan kepada yang berikut:
Kumpulan
2010 2009
RM'000 RM'000
Lebihan elaun modal ke atas susut nilai 4,048 2,060
22. PINJAMAN JANGKA PANJANG
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Pemiutang sewa beli (Nota 23) 348 63 305 –

Pinjaman berjangka (Nota 24) 145,740 227,000 104,803 227,000
146,088 227,063 105,108 227,000
23. PEMIUTANG SEWA BELI
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Bayaran sewa beli minimum:

– tidak lewat daripada satu tahun 98 22 77 –
– lewat daripada satu tahun
dan tidak lewat daripada lima tahun 357 73 307 –
– lewat daripada lima tahun 38 – 38 –
493 95 422 –
Tolak: Caj kewangan masa hadapan (69) (13) (59) –
Nilai semasa pemiutang sewa beli 424 82 363 –

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219

23. PEMIUTANG SEWA BELI (SAMB)
Pemiutang sewa beli bersih adalah perlu dibayar balik seperti berikut:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Semasa:
– tidak lewat daripada satu tahun (Nota 27) 76 19 58 –
Bukan semasa:
– lewat daripada satu tahun dan tidak lewat
daripada lima tahun 311 63 268 –
– lewat daripada lima tahun 37 – 37 –
Jumlah bahagian bukan semasa (Nota 22) 348 63 305 –
424 82 363 –
Pemiutang sewa beli pada akhir tempoh pelaporan menanggung kadar faedah berkesan berkisar antara 3.99% hingga 5.64%
(2009 – 2.42%) setahun.
24. PINJAMAN BERJANGKA
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Bahagian semasa:
– perlu dibayar balik dalam masa
satu tahun (Nota 27) 98,732 218,000 95,020 218,000
Bahagian bukan semasa:

– perlu dibayar balik antara satu hingga
dua tahun 79,800 177,000 69,933 177,000
– perlu dibayar balik antara dua hingga
lima tahun 65,940 50,000 34,870 50,000
Jumlah bahagian bukan semasa (Nota 22) 145,740 227,000 104,803 227,000
244,472 445,000 199,823 445,000


24. PINJAMAN BERJANGKA (SAMB)
(a) Bon Bersiri Bercagar
Pada 30 Mac 2006, Syarikat menerbitkan RM400,000,000 bon bersiri bercagar bernilai nominal ("Bon"). Bon telah
diterbitkan dalam 9 siri, seperti berikut:
Kadar Kupon
Siri Nilai Nominal Tarikh Kematangan Setahun
RM'000
A 120,000 30 Mac 2009 6.24%

B 35,000 30 September 2009 5.75%
C 35,000 30 Mac 2010 5.90%
D 35,000 30 September 2010 6.10%
E 35,000 30 Mac 2011 6.30%
F 35,000 30 September 2011 6.55%
G 35,000 30 Mac 2012 6.65%
H 35,000 28 September 2012 6.75%
I 35,000 29 Mac 2013 6.85%
Bayaran kupon kena dibayar dua kali setahun dalam tunggakan.
(b) Nota Berjangka Sederhana
Pada 3 November 2006, Syarikat menerbitkan RM50,000,000 nota berjangka sederhana nilai nominal ("MTN"). Penerbitan
MTN telah dibuat dalam empat (4) siri, seperti berikut:
Kadar Kupon
Siri Nilai Nominal Tarikh Kematangan Setahun
RM’000
A 15,000 3 Mei 2010 5.75%

B 10,000 3 November 2010 5.90%
C 15,000 3 Mei 2011 6.10%
D 10,000 3 November 2011 6.30%
Bayaran kupon kena dibayar dua kali setahun dalam tunggakan.

.
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221

Kedua-dua Bon dan MTN dicagar oleh:
(i) gadaian tetap ke atas saham anak-anak syarikat dan syarikat bersekutu tertentu;
(ii) penyerahan hak dan gadaian ke atas hasil dijana oleh kapal tertentu Kumpulan;
(iii) penyerahan hak dan gadaian ke atas perolehan insurans kapal tertentu Kumpulan;
(iv) gadaian tetap ke atas kapal tertentu Kumpulan; dan
(v) pelbagai usaha niaga oleh Syarikat.
(c) Pinjaman Berjangka Boleh Pindah Bersindiket
Pada 27 Februari 2009 dan 3 Mac 2009, Syarikat menerima kemudahan pinjaman berjangka boleh pindah bersindiket
sehingga RM150 juta. Pinjaman tersebut perlu dibayar balik seperti berikut:
Kadar Kupon
Kemudahan Tranche Nilai Nominal Tarikh Kematangan Setahun
RM’000
B 1 15,000 12 Mac 2010 ECOF+1.50%

B 2 15,000 12 Mac 2011 ECOF+1.75%
B 3 45,000 12 Mac 2012 ECOF+2.00%
B 4 60,000 12 Mac 2013 ECOF+2.25%
A 15,000 12 Mac 2013 ECOF+2.25%
Di mana ECOF adalah Kos Dana Berkesan satu (1) bulan sedia ada Pemberi Pinjaman masing-masing. Bayaran kupon kena
dibayar secara bulanan dalam tunggakan.
Pinjaman berjangka boleh pindah bersindiket dicagar oleh:
(i) penyerahan hak pinjaman antara syarikat yang terhutang kepada Syarikat oleh syarikat bersekutu;
(ii) penyerahan hak undang-undang akan hak-hak Syarikat ke atas pulangan deposit bersih di bawah perjanjian deposit
pencarter dan memorandum perjanjian berhubung dengan vesel-vesel tertentu;
(iii) gadaian ke atas saham syarikat bersekutu; dan
(iv) gadaian ke atas akaun eskrow yang diwujudkan bagi tujuan mengenepikan jumlah bersamaan dengan sekurang-
kurangnya faedah satu (1) bulan dan mana-mana jumlah diterima di bawah cagaran.
Pinjaman berjangka boleh pindah bersindiket telah diprabayar sepenuhnya dalam tahun kewangan.

(d) Pembiayaani Berjangka Murabahah Komoditi
Pada 18 Mac 2010, anak syarikat menerima kemudahan Pembiayaan Berjangka Murabahah Komoditi didenominasikan
dalam Dolar Amerika Syarikat (USD) dengan nilai nominal sebanyak USD14,480,000 (bersamaan dengan RM46,408,400).
Pinjaman berjangka mata wang asing telah dilindung nilai mengikut swap kadar faedah mata wang bersilang sebagaimana
dinyatakan dalam Nota 25 kepada penyata kewangan dan perlu dibayar balik melalui lapan belas (18) ansuran suku tahunan
berkisar antara RM961,500 hingga RM10,191,900, bermula pada Januari 2011.
Kadar faedah berkesan pinjaman berjangka mata wang asing pada akhir tempoh pelaporan adalah 5.58% (2009 –
sifar) setahun.
Pinjaman berjangka mata wang asing dicagar oleh jaminan korporat disediakan oleh Syarikat.
25. LIABILITI DERIVATIF
Dalam tahun kewangan, Kumpulan menandatangani swap kadar faedah mata wang bersilang USD-MYR untuk melindung nilai
risiko aliran tunai dan kadar faedah daripada pinjaman berjangka kadar terapung mata wang asingnya sebagaimana dinyatakan
dalam Nota 24(d) kepada penyata kewangan. Swap kadar faedah mata wang bersilang telah ditetapkan sebagai lindungan nilai
aliran tunai dan telah dinilai sebagai amat berkesan.
Swap kadar faedah mata wang bersilang digunakan untuk melindung nilai pendedahan Kumpulan kepada perubahan dalam
mata wang kefungsian bersamaan aliran tunai dan kadar faedah pinjaman berjangka mata wang asing. Swap ini memberikan
hak kepada Kumpulan untuk menerima USD LIBOR dan USD bersamaan dengan jumlah pokok di mana bayaran balik dibuat
dalam Ringgit Malaysia berdasarkan kadar pertukarn dipersetujui sebanyak 3.205. Swap juga memberikan hak kepada
Kumpulan untuk menerima faedha terapung bersamaan dengan 3-bulan USD LIBOR+2.00% setahun dan membayar 3-bulan
KLIBOR+2.00% setahun.
Swap mempunyai tempoh kematangan yang sama dengan pinjaman berjangka mata wang asing.
laporan tahunan
2010
223

26. PEMIUTANG
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Pemiutang perdagangan 36,186 30,025 – –

Lain-lain pemiutang dan akruan:
– lain-lain pemiutang 13,167 79,960 1,847 3,381
– akruan 17,372 15,299 6,933 5,611
– dividen perlu dibayar 7 13 7 13
30,546 95,272 8,787 9,005
66,732 125,297 8,787 9,005
Pemiutang perlu dibayar seperti berikut:

– bukan semasa 260 241 214 201
– semasa 66,472 125,056 8,573 8,804
66,732 125,297 8,787 9,005
Tempoh kredit perdagangan biasa diberikan kepada Kumpulan berkisar antara 30 hingga 90 hari.
27. PINJAMAN JANGKA PENDEK
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Pemiutang sewa beli (Nota 23) 76 19 58 –

Pinjaman berjangka (Nota 24) 98,732 218,000 95,020 218,000
98,808 218,019 95,078 218,000
28. ASET BERSIH SETIAP SAHAM BIASA
Aset bersih setiap saham biasa dikira berdasarkan nilai aset bersih sebanyak RM504,035,000 (2009 – RM563,669,000) dibahagikan
dengan bilangan saham biasa dalam terbitan pada akhir tempoh pelaporan sebanyak 450,120,000 (2009 – 297,600,000) saham.
29. HASIL
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Pendapatan kapal dicarter 254,887 540,148 – –

Hasil kontrak – 65,536 – –
Pendapatan dividen – – 11,523 46,209
Yuran pengurusan – – – 1,620
Pendapatan sewa – – 158 338
254,887 605,684 11,681 48,167


30. (KERUGIAN)/KEUNTUNGAN SEBELUM CUKAI
Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
(Kerugian)/ Keuntungan sebelum

cukai diperolehi selepas dicaj/
(dikreditkan):
Yuran audit:
– tahun kewangan semasa 239 338 116 56
– terkurang peruntukan
dalam tahun kewangan
sebelumnya 6 13 – –
Peruntukan bagi kerugian
rosot nilai ke atas
penghutang/ pihak berkaitan/
anak-anak syarikat 5,020 – 5 –
Pelunasan bayaran
pajakan prabayar – 118 – –
Susut nilai hartanah,
loji dan peralatan 7 36,227 48,956 445 425
Imbuhan para Pengarah:
– yuran 38 371 216 371 177
– lain-lain emolumen 38 4,024 1,412 2,109 622
– caruman persaraan 38 23 39 17 20
– manfaat bukan berupa wang 38 259 132 193 82
Sewa peralatan 478 25,757 – –
Kerugian rosot nilai hartanah,
loji dan peralatan 2,982 – – –
Kerugian rosot nilai atas deposit
boleh dikembalikan 9,380 – – –
Perbelanjaan faedah:
– bon dan MTN 16,218 18,416 16,218 22,404
– sewa beli 15 34 11 –
– pinjaman berjangka boleh
pindah bersindiket 2,894 6,688 1,751 6,691
– pinjaman berjangka
mata wang asing 1,837 – – –
– kredit pusingan 687 632 687 632
Inventori dihapus kira – 2 – –
Sewa pajakan kapal 102,247 61,986 – –
Kerugian/(Laba) ke atas
pertukaran asing:
– direalis 5,507 3,184 138 (309)
– tidak direalis (9,464) (399) – –
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225

30. (KERUGIAN)/KEUNTUNGAN SEBELUM CUKAI (Samb)
Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
Perbelanjaan awal – 25 – –
Hartanah, loji dan
peralatan dihapus kira 7 9 – – –
Peruntukan bagi
caruman persaraan – 58 – 9
Sewa premis 795 1,792 366 366
Kos kakitangan 40,862 142,187 4,471 5,315
Peningkatan deposit boleh
dikembalikan pada
kos dilunaskan (3,657) – – –
Hutang lapuk diperolehi semula – (56) – –
Pendapatan dividen:
– syarikat bersekutu – – (577) –
– anak-anak syarikat – – (10,946) (46,209)
Laba atas pemindahan hartanah,
loji dan peralatan – – – (554)
Laba atas pelupusan kepentingan
dalam anak syarikat 35 – (12,677) – (86,351)
(Laba)/ Kerugian atas pelupusan
hartanah, loji dan peralatan (424) (3,165) 1,509 –
Laba atas pelupusan aset bukan
semasa dikelaskan sebagai
dipegang untuk jualan (5,855) (1,952) – –
Pendapatan faedah daripada:
– syarikat bersekutu (2,301) (326) (2,301) (326)
– deposit tetap (1,368) (3,519) (1,298) (2,058)
– anak-anak syarikat – – (924) (9,252)
Yuran pengurusan:
– syarikat bersekutu – (135) – (135)
– anak-anak syarikat – – – (1,485)
Pendapatan sewa:
– syarikat bersekutu – (15) – (15)
– anak-anak syarikat – – (158) (323)
– pihak ketiga (8) – – –
Penepian hutang (107) (866) – –
Kemasukan kira semula kerugian
rosot nilai ke atas penghutang – (555) – (944)

31. PERBELANJAAN CUKAI PENDAPATAN
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Perbelanjaan cukai semasa:

– cukai Malaysia (2,392) 8,654 – 364
– cukai asing 652 4,663 – 173
(1,740) 13,317 537

– (terlebih)/ terkurang peruntukan
dalam tahun kewangan sebelumnya (741) 51 (8) (306)
(2,481) 13,368 (8) 231
Cukai tertunda (Nota 21):

– berkaitan dengan pengasalan dan
pengiktirafan perbezaan sementara 475 (1,017) – –
– terkurang peruntukan dalam tahun
kewangan sebelumnya 1,515 – – –
1,990 (1,017) – –
(491) 12,351 (8) 231
Penyelarasan perbelanjaan cukai pendapatan terpakai kepada keuntungan sebelum cukai pada kadar cukai berkanun kepada
perbelanjaan cukai pendapatan pada kadar cukai berkesan Kumpulan dan Syarikat adalah seperti berikut:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
(Kerugian)/ Keuntungan sebelum cukai (72,897) 48,701 (17,003) 105,625
Cukai pada kadar cukai

berkanun sebanyak 25% (18,224) 12,175 (4,251) 26,406
Kesan cukai ke atas:

Laba tidak boleh dicukai (3,128) (27,486) (2,920) (32,626)
Perbelanjaan tidak boleh ditolak 23,396 31,565 7,171 6,757
Penggunaan aset cukai tertunda tidak
diiktiraf sebelum ini (3,175) (3,702) – –
(Terlebih)/ Terkurang peruntukan cukai semasa
dalam tahun kewangan sebelumnya (741) 51 (8) (306)
Terkurang peruntukan cukai tertunda dalam
tahun kewangan sebelumnya 1,515 – – –
Perbezaan kadar cukai (134) (252) – –
Cukai bagi tahun kewangan (491) 12,351 (8) 231

laporan tahunan
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32. (KERUGIAN)/PEROLEHAN SETIAP SAHAM
(Kerugian)/ perolehan asas setiap saham (“EPS”) diperolehi dengan membahagikan (kerugian)/ keuntungan Kumpulan boleh
dikaitkan dengan pemegang-pemegang ekuiti Syarikat sebanyak RM72,002,000 (2009 – RM29,317,000) dengan purata wajaran
bilangan saham biasa dalam terbitan dalam tahun kewangan sebanyak 334,463,671 (2009 – 297,600,000 saham biasa).
Kerugian setiap saham dicairkan tidak dibentangkan bagi tahun kewangan semasa memandangkan terdapat kesan anti-pencairan
timbul daripada andaian penukaran Waran.
Dalam tahun kewangan sebelumnya, perolehan setiap saham dicairkan tidak terpakai memandangkan tidak ada potensi saham
biasa dicairkan belum dijelas pada akhir tempoh pelaporan sebelumnya.
33. DIVIDEN
Kumpulan/Syarikat
2010 2009
RM'000 RM'000
Berhubung dengan tahun kewangan berakhir 31 Disember 2008
Dividen pertama dan akhir sebanyak 2.0 sen setiap
saham biasa bernilai RM0.50 sesaham tolak cukai sebanyak 25% – 4,464
Berhubung dengan tahun kewangan berakhir 31 Disember 2009

Dividen pertama dan akhir sebanyak 2.0 sen setiap
saham biasa bernilai RM0.50 sesaham tolak cukai sebanyak 25% 4,464 –
Para pengarah tidak mengesyorkan bayaran sebarang dividen berhubung dengan tahun kewangan berakhir 31 Disember 2010.
34. PELABURAN DALAM ANAK-ANAK SYARIKAT BARU
(a) Dalam tahun kewangan semasa, anak syarikat berikut telah diperbadankan:
Kepentingan
Berkesan Tarikh
Nama Anak Syarikat Kumpulan (%) Pemerbadanan
Perdana Nautika Sdn. Bhd. 55 19 November 2010
(b) Dalam tahun kewangan sebelumnya, anak-anak syarikat berikut telah diperbadankan:
Kepentingan
Berkesan Tarikh
Nama Anak Syarikat Kumpulan (%) Pemerbadanan
Perdana Jupiter Limited 100 12 Mei 2009

Perdana Neptune Limited 100 23 Jun 2009
Perdana Pluto Limited 100 12 Ogos 2009
Perdana Saturn Limited 100 12 Ogos 2009

35. RINGKASAN KESAN-KESAN ATAS PELUPUSAN ANAK SYARIKAT
Kepentingan
Perolehan Berkesan Tarikh
Jualan Kumpulan Pelupusan
Anak Syarikat Balasan Kos Sampingan Bersih Dilupuskan Berkesan
RM’000 RM’000 RM’000 (%)
PEB 16,065 (218) 15,847 5.38 10 September 2009

PEB 93,208 (2,937) 90,271 25.03 11 Disember 2009
109,273 (3,155) 106,118 30.41
Butir-butir mengenai aset, liabiliti dan aliran masuk tunai bersih timbul daripada pelupusan kepentingan dalam anak syarikat
adalah seperti berikut:
Kumpulan/
Syarikat
2009
Nota RM’000
Hartanah, loji dan peralatan 7 260,729

Bayaran pajakan prabayar 7,157
Pelaburan dalam syarikat bersekutu 40
Aset tidak ketara 10 1,434
Aset cukai tertunda 11 16
Tunai dan setara tunai 45,356
Penghutang perdagangan 13 191,526
Lain-lain penghutang, deposit dan prabayaran 13 75,682
Lai-lain liabiliti semasa bersih (245,133)
Cukai tertunda 21 (27,885)
Lain-lain liabiliti bukan semasa (534)
Jumlah ekuiti 308,388

Tolak: Kepentingan minoriti (123,880)
Tolak: Faedah dikekalkan dalam anak syarikat dilupuskan (91,067)
Aset bersih dilupuskan 93,441

Laba atas pelupusan kepentingan dalam anak syarikat 30 12,677
Perolehan jualan bersih diterima 106,118

Tolak: Tunai dan setara tunai anak syarikat dilupuskan (45,356)
Aliran masuk tunai bersih atas pelupusan kepentingan dalam anak syarikat 60,762
Tidak ada pelupusan anak syarikat dalam tahun kewangan.

laporan tahunan
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229

36. PEMBELIAN HARTANAH, LOJI DAN PERALATAN
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Hartanah, loji dan peralatan dibeli 191,345 529,405 6,838 2,889

Tolak: Jumlah dibiayai melalui sewa beli (390) (96) (390) –
Tunai dibayar bagi pembelian hartanah,

loji dan peralatan 190,955 529,309 6,448 2,889
37. TUNAI DAN SETARA TUNAI
Untuk tujuan penyata aliran tunai, tunai dan setara tunai terdiri daripada yang berikut:
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Deposit tetap dengan bank berlesen 51,188 158,437 47,360 152,392

Tunai dan baki bank 18,293 21,288 3,018 8,270
69,481 179,725 50,378 160,662

Tolak: Deposit tetap disandarkan sebagai
cagaran (Nota 16) (31,538) (144,306) (29,060) (144,306)
37,943 35,419 21,318 16,356


38. IMBUHAN PARA PENGARAH
Agregat jumlah imbuhan diterima dan boleh diterima daripada Kumpulan oleh para pengarah Syarikat dalam tahun kewangan
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Para Pengarah Eksekutif:

– yuran 199 126 199 87
– emolumen bukan yuran 4,027 1,451 2,106 642
4,226 1,577 2,305 729
Para Pengarah Bukan Eksekutif Bebas:

– yuran 172 90 172 90
– emolumen bukan yuran 20 – 20 –
192 90 192 90
Jumlah imbuhan para pengarah 4,418 1,667 2,497 819

Anggaran nilai wang manfaat
bukan berupa wang 259 132 193 82
Jumlah imbuhan para pengarah, termasuk

manfaat bukan berupa wang 4,677 1,799 2,690 901
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38. IMBUHAN PARA PENGARAH (SAMB)
Bilangan pengarah Syarikat yang jumlah imbuhan diterima/ boleh diterima daripada Kumpulan dalam tahun kewangan yang
jatuh dalam kumpulan berikut dianalisis di bawah:
Bilangan Pengarah
Kumpulan Syarikat
2010 2009 2010 2009
Pengarah Eksekutif
Di bawah RM50,000 1 – 1 1
RM50,001 – RM100,000 – – 1 –
RM100,001 – RM150,000 1 – 1 –
RM250,001 – RM300,000 – 1 – 1
RM500,001 – RM550,000 – 1 – 1
RM550,001 – RM600,000 1 – 1 –
RM750,001 – RM800,000 – – 1 –
RM900,001 – RM950,000 – 1 – –
RM950,001 – RM1,000,000 – – 1 –
RM1,000,001 – RM1,050,000 1 – – –
RM1,050,001 – RM1,100,000 1 – – –
RM1,650,001 – RM1,700,000 1 – – –
6 3 6 3
Pengarah Bukan Eksekutif Bebas
Di bawah RM50,000 6 3 6 3
RM50,001 – RM100,000 1 – 1 –
7 3 7 3
13 6 13 6
Dalam tahun kewangan, empat (4) pengarah telah dipecat daripada Lembaga dan seorang (1) pengarah telah meletak jawatan.

39. PENDEDAHAN PIHAK BERKAITAN
Kumpulan mempunyai perhubungan pihak berkaitan dengan:
(a) anak-anak syarikatnya, sebagaimana dinyatakan dalam Nota 5, Nota 6 dan Nota 14 kepada penyata kewangan; dan
(b) personel pengurusan penting Kumpulan.
Selain daripada maklumat diperincikan di bahagian-bahagian lain dalam penyata kewangan, Kumpulan menjalankan urus niaga
berikut dengan pihak berkaitan dalam tahun kewangan:
Kumpulan Syarikat
2010 2009 2010 2009
Nota RM'000 RM'000 RM'000 RM'000
Syarikat bersekutu:
– pendapatan dividen – – 577 –
– pendapatan faedah
dan kewangan 2,301 326 2,301 326
– pendapatan yuran pengurusan – 135 – 135
– pendapatan sewa – 15 – 15
Anak–anak syarikat:
– pendapatan dividen – – 10,946 46,209
– yuran pengendalian dibayar/
perlu dibayar – – 522 596
– Pendapatan faedah dan kewangan – – 924 9,252
– pendapatan yuran pengurusan – – – 1,485
– pendapatan sewa – – 158 323
Pihak berkaitan: (i)

– pendapatan kapal dicarter 94,070 6,084 – –
– yuranretainer dibayar/
perlu dibayar – 39 – 39
– jualan hartanah, loji
dan peralatan 96,600 – – –
Pampasan personel
pengurusan penting:
– manfaat kakitangan jangka pendek 5,752 6,412 2,673 1,957
– manfaat selepas perkhidmatan 23 58 17 9
Nota:
(i) Syarikat dalam mana pengarah anak syarikat mempunyai kepentingan kewangan besar.
Butir-butir mengenai jumlah belum dijelas dengan anak-anak syarikat, pihak berkaitan dan syarikat berkaitan dinyatakan dalam
Nota 8, Nota 14 dan Nota 15 kepada penyata kewangan.
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40. KOMITMEN MODAL
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Diluluskan dan Dikontrakkan
Pembelian hartanah, loji dan peralatan 198,276 448,660 4,547 10,747
41. LIABILITI KONTIGEN
Kumpulan Syarikat
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Tidak bercagar
Jaminan korporat diberikan kepada bank dan

institusi kewangan berlesen bagi kemudahan
kredit diberikan kepada pihak berkaitan 9,508 32,233 9,508 32,233
Jaminan bank diberikan kepada pihak ketiga

bagi manfaat anak syarikat 2,320 2,591 2,320 2,591
Jaminan prestasi diberikan oleh anak-anak

syarikat kepada pihak ketiga 5 5 – –
11,833 34,829 11,828 34,824
42. KOMITMEN PAJAKAN
Kumpulan
2010 2009
RM'000 RM'000
Sewa pajakan perlu dibayar:
– dalam masa satu tahun 105,137 97,958
– dalam masa dua hingga lima tahun 373,316 365,329
– dalam masa enam hingga sepuluh tahun 232,191 342,955
710,644 806,242
Sewa-sewa pajakan yang perlu dibayar berhubung dengan perjanjian pajakan yang ditandatangani oleh anak syarikat bagi
pajakan kapal-kapal bagi tempoh berkisar antara lima (5) hingga sepuluh (10) tahun dan bagi pejabat dan gudang.

43. KADAR PERTUKARAN ASING
Kadar pertukaran asing penutup terpakai digunakan (dinyatakan atas dasar satu unit mata wang asing kepada bersamaan Ringgit
Malaysia) bagi urus niaga material baki mata wang asing pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan/Syarikat
2010 2009
RM'000 RM'000
Dolar Australia 3.1515 3.0700

Dolar Singapura 2.3908 2.4408
Dolar Amerika Syarikat 3.0905 3.4295
44. SEGMEN KENDALIAN
Segmen kendalian disediakan dalam cara yang konsisten dengan pelaporan dalaman disediakan kepada Jawatankuasa Eksekutif
Kumpulan sebagai ketua pembuat keputusan kendaliannya untuk memperuntukkan sumber kepada segmen dan untuk menilai
prestasinya. Untuk tujuan pengurusan, Kumpulan disusun mengikut unit-unit perniagaan berdasarkan produk dan perkhidmatan
yang mereka disediakan.
Kumpulan disusun mengikut tiga (3) segmen perniagaan utama seperti berikut:
(i) Segmen perkhidmatan sokongan luar pesisir marin – penyediaan kapal-kapal bagi industri minyak dan gas huluan,
berkisar daripada penundaan, tambatan dan penggunaan sauh kapal marin bukan penggerak sendiri; pengangkutan
peralatan penggerudian, bahan kimia pengeluaran dan bahan projek sehinggalah kemudahan kejuruteraan dan bengkel
kerja di atas kapal.
(ii) Segmen perkhidmatan Brownfield, kejuruteraan dan penyelenggaraan bersepadu – penyediaan perkhidmatan termasuk
pengaktifan dan pembinaan penyambungan penyelenggqaraan utama bahagian atas; kejuruteraan, operasi dan
penyelenggaraan; pembungkusan dan pengilangan peralatan; pengoptimuman medan minyak, rekaan dan pembikinan
peralatan dan dandang diproses bagi industri minyak dan gas, petrokimia dan am.
(iii) Segmen pemegangan pelaburan – menyediakan perkhidmatan korporat tahap kumpulan dan tugas-tugas perbendaharaan
dan pelaburan dalam ekuiti.
Jawatankuasa Eksekutif Kumpulan menilai prestasi segmen kendalian berdasarkan keputusan kendalian yang diukur secara berbeza
daripada yang dinyatakan dalam penyata kewangan disatukan.
Aset, liabiliti dan perbelanjaan yang biasa dan tidak mempunyai kegunaan diperuntukkan kepada segmen kendalian
dibentangkan di bawah perkara tidak diperuntukkan. Perkara tidak diperuntukkan terdiri terutamanya daripada pelaburan dalam
syarikat bersekutu.
Harga pemindahan di antara segmen kendalian adalah atas terma-terma biasa dalam cara yang serupa dengan urus niaga
dengan pihak ketiga.
laporan tahunan
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44. SEGMEN KENDALIAN (SAMB)
SEGMEN PERNIAGAAN
Perkhidmatan
Brownfield,
Perkhidmatan Kejuruteraan
2010 Sokongan Dan
Luar Pesisir Penyelenggaraan Pemegangan Penghapusan
Marin Bersepadu Pelaburan Kira Kumpulan
RM’000 RM’000 RM’000 RM’000 RM’000
HASIL
Hasil luaran 254,887 – – – 254,887
Hasil antara segmen 168,410 – 11,681 (180,091) –
423,297 – 11,681 (180,091) 254,887
KEPUTUSAN
Keputusan segmen (73,120) – 2,222 20,569 (50,329)
Kos kewangan (4,641) – (19,426) 1,112 (22,955)
(77,761) – (17,204) 21,681 (73,284)
Bahagian keputusan dalam

syarikat bersekutu 387
Perbelanjaan cukai pendapatan 491
Kerugian selepas cukai

disatukan (72,406)
ASET
Aset segmen 603,023 – 662,980 (445,916) 820,087
Aset cukai tertunda 46

Cukai boleh diperolehi semula 3,758
Jumlah aset disatukan 823,891
LIABILITI
Liabiliti segmen 355,748 – 210,968 (251,985) 314,731
Cukai tertunda 4,048

Peruntukan bagi cukai 860
Jumlah liabiliti disatukan 319,639
LAIN-LAIN PERKARA SEGMEN

Tambahan kepada aset bukan semasa selain daripada instrumen kewangan:
– pelaburan dalam anak syarikat – – 55 (55) –
– hartanah, loji dan peralatan 184,507 – 6,838 – 191,345

SEGMEN PERNIAGAAN (SAMB)
Perkhidmatan
Brownfield,
Perkhidmatan Kejuruteraan
2009 Sokongan Dan
Luar Pesisir Penyelenggaraan Pemegangan Penghapusan
Marin Bersepadu Pelaburan Kira Kumpulan
RM’000 RM’000 RM’000 RM’000 RM’000
HASIL
Hasil luaran 227,618 377,916 150 – 605,684
Hasil antara segmen 177,689 159 48,017 (225,865) –
405,307 378,075 48,167 (225,865) 605,684
KEPUTUSAN
Keputusan segmen 36,112 37,126 134,874 (125,968) 82,144
Kos kewangan (1,244) (7,739) (32,964) 9,252 (32,695)
Keuntungan sebelum cukai 34,868 29,387 101,910 (116,716) 49,449
Bahagian keputusan syarikat

bersekutu (748)
Perbelanjaan cukai pendapatan (12,351)
Keuntungan selepas cukai

disatukan 36,350
ASET
Aset segmen 730,827 – 820,598 (415,391) 1,136,034
Aset cukai tertunda 46

Cukai boleh didapati semula 5,057
Jumlah aset disatukan 1,141,137
LIABILITI
Liabiliti segmen 339,003 – 457,939 (224,352) 572,590
Cukai tertunda 2,060

Peruntukan bagi cukai 2,238
Jumlah liabiliti disatukan 576,888
LAIN-LAIN PERKARA SEGMEN

Tambahan kepada aset bukan semasa selain daripada instrumen kewangan:
– pelaburan dalam anak syarikat – – 394 (394) –
– hartanah, loji dan peralatan 383,090 143,415 2,900 – 529,405
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SEGMEN PERNIAGAAN (SAMB)
Perkara berikut ditambah kepada/ (ditolak daripada) keuntungan segmen untuk diperolehi pada (kerugian)/ keuntungan selepas
cukai disatukan:
Kumpulan
2010 2009
RM'000 RM'000
Peningkatan deposit boleh dikembalikan pada kos dilunaskan 3,657 –

Laba atas pelupusan kepentingan dalam anak syarikat – 12,677
Laba atas pelupusan hartanah, loji dan peralatan 424 3,165
Laba atas pelupusan aset bukan semasa dikelaskan sebagai dipegang untuk jualan 5,855 1,952
Peruntukan bagi kerugian rosot nilai ke atas penghutang/ pihak berkaitan (5,020) –
Kerugian rosot nilai ke atas hartanah, loji dan peralatan (2,982) –
Kerugian rosot nilai ke atas deposit boleh dikembalikan (9,380) –
SEGMEN GEOGRAFI
Kumpulan Kumpulan
Hasil Aset Bukan Semasa
2010 2009 2010 2009
RM'000 RM'000 RM'000 RM'000
Malaysia 169,877 495,403 463,080 388,724

Singapura 51,898 43,091 399 488
Marshall Islands 33,079 59,766 144,307 287,500
Australia 33 7,424 51 79
254,887 605,684 607,837 676,791
PELANGGAN-PELANGGAN UTAMA
Hasil daripada empat (4) pelanggan, dengan hasil bersamaan atau lebih 10% daripada hasil Kumpulan, berjumlah
RM221,990,000 (2009 – RM205,504,000).

45. INSTRUMEN KEWANGAN
(a) Polisi Pengurusan Risiko Kewangan
Polisi pengurusan risiko kewangan Kumpulan cuba untuk memastikan agar sumber kewangan mencukupi tersedia untuk
pembangunan perniagaan Kumpulan manakala menguruskan risiko pasarannya (termasuk risiko mata wang asing, risiko
kadar faedah dan risiko ekuiti), risiko kredit dan risiko mudah tunai. Polisi Kumpulan berhubung dengan bidang utama
kegiatan perbendaharaan adalah seperti berikut:
(i) Risiko Pasaran
(i) Risiko Mata Wang Asing
Kumpulan terdedah kepada risiko pertukaran asing timbul terutamanya daripada urus niaga perdagangan biasa
yang didenominasikan dalam mata wang asing. Ia menguruskan pendedahan pertukaran asingnya melalui polisi
memadankan setakat mana yang boleh penerimaan dan bayaran dalam setiap mata wang individu. Urus niaga
dan baki mata wang asing Kumpulan sebahagian besarnya didenominasikan dalam Dolar Amerika Syarikat (USD).
Risiko mata wang asing diuruskan pada tahap boleh diterima.
Ada kalanya, Kumpulan memasuki pelbagai instrumen kewangan derivatif untuk menguruskan pendedahannya
kepada risiko mata wang asing.
laporan tahunan
2010
239

45. INSTRUMEN KEWANGAN (SAMB)
(a) Polisi Pengurusan Risiko Kewangan (Samb)
(i) Risiko Pasaran (Samb)
(i) Risiko Mata Wang Asing (Samb)
Dolar
Amerika Dolar Dolar Ringgit
Syarikat Singapura Australia Lain-Lain Malaysia Jumlah
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2010
Aset kewangan
Deposit boleh dikembalikan 90,930 – – – – 90,930
Penghutang perdagangan
dan lain-lain penghutang 36,164 2,167 9 – 15,626 53,966
Jumlah terhutang oleh pihak
berkaitan 4,189 758 451 – 31,216 36,614
Deposit tetap dengan bank
berlesen – 2,478 – – 48,710 51,188
Tunai dan baki bank 13,845 1,278 650 9 2,511 18,293
145,128 6,681 1,110 9 98,063 250,991
Liabiliti kewangan
Liabiliti derivatif – – – – 3,070 3,070
Pemiutang 27,239 9,001 944 1,916 27,632 66,732
pihak berkaitan 1 – – – 32 33
Pinjaman – 61 – – 244,835 244,896
27,240 9,062 944 1,916 275,569 314,731
Aset/ (liabiliti) kewangan bersih 117,888 (2,381) 166 (1,907) (177,506) (63,740)
Tolak: (Aset)/ liabiliti kewangan

bersih didenominasikan
dalam mata wang
kefungsian entiti
masing-masing 95,478 2,846 166 – (177,114) (78,624)
Pendedahan mata wang 22,410 (5,227) – (1,907) (392) 14,884


Dolar
Amerika Dolar Dolar Ringgit
Syarikat Singapura Australia Lain-Lain Malaysia Jumlah
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2009
Aset kewangan
Deposit boleh dikembalikan 98,221 – – – – 98,221
Penghutang perdagangan
dan lain-lain penghutang 45,776 4,504 79 – 12,507 62,866
Jumlah terhutang oleh
pihak berkaitan 6,438 779 616 – 30,361 38,194
bersekutu – – – – 51,649 51,649
Deposit tetap dengan
bank berlesen – 1,455 – – 156,982 158,437
Tunai dan baki bank 17,857 780 1,145 10 1,496 21,288
168,292 7,518 1,840 10 252,995 430,655
Liabiliti kewangan
Pemiutang 84,376 10,560 1,069 537 28,755 125,297
pihak berkaitan 1 – – – 235 236
syarikat bersekutu – – – – 1,975 1,975
Pinjaman – 82 – – 445,000 445,082
84,377 10,642 1,069 537 475,965 572,590
Aset/ (liabiliti) kewangan bersih 83,915 (3,124) 771 (527) (222,970) (141,935)
Tolak: (Aset)/ liabiliti kewangan

bersih didenominasikan
dalam mata wang
kefungsian entiti
masing-masing 46,586 2,781 771 – (205,782) (155,644)
Pendedahan mata wang 37,329 (5,905) – (527) (17,188) 13,709

laporan tahunan
2010
241

Dolar
Amerika Ringgit
Syarikat Malaysia Jumlah
Syarikat RM’000 RM’000 RM’000
2010
Aset kewangan
Penghutang – 1,416 1,416
Jumlah terhutang oleh anak–anak syarikat – 271 271
Jumlah terhutang oleh pihak berkaitan – 259 259
Deposit tetap dengan bank berlesen – 47,360 47,360
Tunai dan baki bank 1,585 1,433 3,018
1,585 50,739 52,324
Liabiliti kewangan
Pemiutang – 8,787 8,787
Jumlah terhutang kepada anak-anak syarikat – 123,839 123,839
Jumlah terhutang kepada pihak berkaitan – 32 32
Pinjaman – 200,186 200,186
– 332,844 332,844
Aset/ (liabiliti) kewangan bersih 1,585 (282,105) (280,520)

Tolak: (Aset)/ liabiliti kewangan bersih didenominasikan
dalam mata wang kefungsian entiti masing-masing – (282,105) (282,105)
Pendedahan mata wang 1,585 – 1,585


Dolar
Amerika Ringgit
Syarikat Malaysia Jumlah
Syarikat RM’000 RM’000 RM’000
2009
Aset kewangan
Penghutang – 217 217
Jumlah terhutang oleh anak-anak syarikat – 27 27
Jumlah terhutang oleh pihak berkaitan – 259 259
Jumlah terhutang oleh syarikat bersekutu – 51,649 51,649
Deposit tetap dengan bank berlesen – 152,392 152,392
Tunai dan baki bank 6,947 1,323 8,270
6,947 205,867 212,814
Liabiliti Kewangan
Pemiutang – 9,005 9,005
Jumlah terhutang kepada anak-anak syarikat – 95,862 95,862
Jumlah terhutang kepada pihak berkaitan – 3 3
Jumlah terhutang kepada syarikat bersekutu – 1,975 1,975
Pinjaman – 445,000 445,000
– 551,845 551,845
Aset/ (liabiliti) kewangan bersih) 6,947 (345,978) (339,031)

Tolak: (Aset)/ liabiliti kewangan bersih didenominasikan
dalam mata wang kefungsian entiti masing-masing – (345,978) (345,978)
Pendedahan mata wang 6,947 – 6,947

laporan tahunan
2010
243

Analisis kesensitifan risiko mata wang asing
Jadual berikut memperincikan analisis kesensitifan kepada kemungkinan perubahan munasabah dalam mata wang
asing pada akhir tempoh pelaporan, dengan semua angka boleh ubah lain kekal konstans:
Kumpulan Syarikat
2010 2010
Peningkatan/ Peningkatan/
(Pengurangan) (Pengurangan)
RM’000 RM’000
Kesan ke atas keuntungan selepas cukai
Dolar Amerika Syarikat:

– mengukuh sebanyak 10% 2,241 159
– susut sebanyak 10% (2,241) (159)
Dolar Singapura:
– mengukuh sebanyak 10% (523) –
– susut sebanyak 10% 523 –
Kesan ke atas ekuiti
Tidak ada kesan material kepada ekuiti Kumpulan.
(ii) Risiko Kadar Faedah
Pendedahan Kumpulan kepada risiko kadar faedah timbul terutamanya daripada deposit jangka pendeknya dengan
bank berlesen dan pinjaman menanggung faedah. Ada kalanya, Kumpulan memasuki pelbagai instrumen
kewangan derivatif bagi menguruskan pendedahannya kepada risiko kadar faedah.
Dana lebihan ditempatkan dengan institusi kewangan berlesen pada kadar faedah yang paling menguntungkan.
Analisis kesensitifan risiko kadar faedah
Jadual berikut memperincikan analisis kesensitifan kepada perubahan munasabah yang mungkin dalam kadar
faedah pinjaman kadar tetap pada akhir tempoh pelaporan, dengan semua angka boleh ubah lain kekal konstan:
Kumpulan Syarikat
2010 2010
Peningkatan/ Peningkatan/
(Pengurangan) (Pengurangan)
RM’000 RM’000
Kesan ke atas keuntungan selepas cukai
Meningkat sebanyak 50 mata asas (“bp”) (165) –

Merosot sebanyak 50 bp 165 –
Kesan ke atas ekuiti
Tidak ada kesan material kepada ekuiti Kumpulan.


(iii) Risiko Harga Ekuiti
Pendedahan ketara Kumpulan kepada risiko harga ekuiti timbul terutamanya daripada perubahan dalam harga
sekuriti disebut harga. Risiko harga ekuiti diawasi dengan teliti dan diuruskan pada tahap yang boleh diterima.
Memandangkan pelaburan disebut harga Kumpulan diakaunkan di bawah kaedah kos, analisis kesensitifan
tidak dibentangkan.
(ii) Risiko Kredit
Pendedahan Kumpulan kepada risiko kredit, atau risiko pihak satu lagi yang memungkiri, timbul terutamanya daripada
penghutang (termasuk penghutang perdagangan, lain-lain penghutang dan pihak berkaitan). Kumpulan menguruskan
pendedahannya kepada risiko kredit melalui penggunaan kelulusan kredit, had kredit dan prosedur mengawasi atas
dasar berterusan.
Kumpulan mewujudkan peruntukan bagi rosot nilai yang mewakili anggaran daripada kerugian ditanggungnya
berhubung dengan penghutang sebagaimana sesuai. Komponen utama peruntukan ini adalah komponen kerugian
khusus yang berkait dengan pendedahan ketara secara individu, dan komponen kerugian terkumpul diwujudkan bagi
kumpulan aset yang sama berhubung dengan kerugian yang telah ditanggung tetapi masih belum dikenal pasti. Rosot
nilai dianggarkan oleh pengurusan berdasarkan pengalaman dan persekitaran ekonomi semasa.
Profil penumpuan risiko kredit
Penumpuan risiko kredit Kumpulan berkait dengan jumlah terhutang oleh empat (4) pelanggan yang membentuk lebih
kurang 81% daripada penghutang perdagangan bersihnya pada akhir tempoh pelaporan.
laporan tahunan
2010
245

(ii) Risiko Kredit (Samb)
Pendedahan kepada risiko kredit
Memandangkan Kumpulan tidak memegang sebarang kolateral, pendedahan maksimum kepada risiko kredit diwakili
oleh jumlah penyimpanan aset kewangan pada akhir tempoh pelaporan.
Analisis pengusiaan
Analisis pengusiaan penghutang perdagangan Kumpulan pada 31 Disember 2010 adalah seperti berikut:
Jumlah Rosot Nilai Rosot Nilai Nilai

Kasar Tunggal Terkumpul Hantar
Kumpulan RM’000 RM’000 RM’000 RM’000
2010
Tidak melepasi tempoh kena dibayar 27,113 – – 27,113
Melepasi tempoh kena dibayar:

– kurang daripada 3 bulan 11,193 – – 11,193
– 3 hingga 6 bulan 4,839 – – 4,839
– melebihi 6 bulan 3,171 (297) – 2,874
46,316 (297) – 46,019
Penghutang perdagangan yang melepasi tempoh kena bayar tetapi tidak merosot nilainya
Kumpulan percaya bahawa tidak ada peruntukan rosot nilai yang diperlukan berhubung dengan penghutang ini.
Penghutang ini sebahagian besarnya adalah syarikat-syarikat dengan rekod pengutipan yang memuaskan dan tidak
ada sejarah pemungkiran.
Penghutang perdagangan yang tidak melepasi tempoh kena bayar dan tidak merosot nilainya
Bahagian ketara penghutang perdagangan yang tidak melepasi tempoh kena bayar dan tidak merosot nilai adalah
pelanggan-pelanggan tetap yang telah lama berurus niaga dengan Kumpulan. Kumpulan menggunakan analisis
pengusiaan untuk mengawasi kualiti kredit penghutang perdagangan.

(ii) Risiko Kredit (Samb)
Analisis pengusiaan (Samb)
Analisis pengusiaan lain-lain baki perdagangan Kumpulan (jumlah terhutang oleh pihak berkaitan) pada 31 Disember 2010
Jumlah Rosot Nilai Rosot Nilai Nilai

Kasar Tunggal Terkumpul Hantar
Kumpulan RM’000 RM’000 RM’000 RM’000
2010
Tidak melepasi tempoh kena dibayar 15,078 – – 15,078
Melepasi tempoh kena dibayar:

– kurang daripada 3 bulan 9,515 – – 9,515
– 3 hingga 6 bulan 5,037 (1,899) – 3,138
– melebihi 6 bulan 1,168 – – 1,168
30,798 (1,899) – 28,899
Penghutang perdagangan yang melepasi tempoh kena bayar tetapi tidak merosot nilainya
Kumpulan percaya bahawa peruntukan rosot nilai tidak diperlukan memandangkan kebanyakan mereka pihak berkaitan.
laporan tahunan
2010
247

(iii) Risiko Mudah Tunai
Pendedahan Kumpulan kepada risiko mudah tunai timbul terutamanya daripada kegiatan pendanaan dan
perniagaan am.
Kumpulan mengamalkan pengurusan risiko mudah tunai berhemah dengan mengekalkan baki tunai dan pendanaan
yang mencukupi melalui jumlah kemudahan kredit/ talian kredit yang komited untuk keperluan modal kerja.
Jadual berikut menunjukkan profil kematangan liabiliti kewangan pada akhir tempoh pelaporan berdasarkan aliran
tunai tidak didiskaunkan kontrak (termasuk bayaran faedah dikira dengan menggunakan kadar kontrak atau, sekiranya
terapung, berdasarkan kadar pada akhir tempoh pelaporan):
Aliran Tunai <--------------- Kematangan ---------------->

Tidak Dalam
Jumlah Didiskaunkan Masa 1–5 Melebihi
Penyimpanan Kontrak 1 Tahun Tahun 5 Tahun
Kumpulan RM’000 RM’000 RM’000 RM’000 RM’000
2010
Pemiutang 66,732 66,732 66,472 260 –

pihak berkaitan 33 33 33 – –
Pemiutang sewa beli 424 493 98 357 38
Pinjaman berjangka 244,472 261,947 109,194 152,753 –
311,661 329,205 175,797 153,370 38
2009
Pemiutang 125,297 125,297 125,056 241 –

syarikat bersekutu 1,975 1,975 1,975 – –
Pemiutang sewa beli 82 95 22 73 –
572,590 606,026 390,173 215,853 –


(iii) Risiko Mudah Tunai (Samb)
Aliran Tunai <--------------- Kematangan ---------------->

Tidak Dalam
Jumlah Didiskaunkan Masa 1–5 Melebihi
Penyimpanan Kontrak 1 Tahun Tahun 5 Tahun
Syarikat RM’000 RM’000 RM’000 RM’000 RM’000
2010
Pemiutang 8,787 8,787 8,573 214 –

anak-anak syarikat 123,839 123,839 123,839 – –
Pemiutang sewa beli 363 422 77 307 38
332,844 348,619 237,709 110,872 38
2009
Pemiutang 9,005 9,005 8,804 201 –

anak-anak syarikat 95,862 95,862 95,862 – –
syarikat bersekutu 1,975 1,975 1,975 – –
551,845 585,268 369,528 215,740 –

laporan tahunan
2010
249

(iii) Risiko Mudah Tunai (Samb)
Lindungan Nilai Aliran Tunai
Kumpulan memasuki swap kadar faedah mata wang bersilang USD-MYR untuk melindung nilai risiko aliran tunai dan
kadar faedah pinjaman berjangka kadar tetap mata wang asingnya sebagaimana dinyatakan dalam Nota 24(d) kepada
penyata kewangan. Swap kadar faedah mata wang bersilang mempunyai nilai nominal yang sama dengan pinjaman
berjangka sebanyak USD14,480,000 (bersamaan dengan RM46,408,400) dan diselesaikan secara suku tahunan,
konsisten dengan jadual pembayaran balik pinjaman berjangka tersebut.
Swap kadar faedah mata wang bersilang telah ditetapkan sebagai lindungan aliran tunai dan telah dinilai sebagai
amat berkesan.
(b) Pengurusan Risiko Modal
Kumpulan menguruskan modalnya untuk memastikan agar entiti dalam Kumpulan akan dapat mengekalkan struktur modal
optimum untuk menyokong perniagaan dan memaksimumkan nilai pemegang (pemegang-pemegang) saham mereka. Untuk
mencapai objektif ini, Kumpulan boleh membuat pelarasan kepada struktur modal memandangkan perubahan dalam keadaan
ekonomi, seperti menyelaraskan jumlah bayaran dividen, mengembalikan modal kepada pemegang-pemegang saham atau
menerbitkan saham-saham baru.
Kumpulan menguruskan modalnya berdasarkan nisbah hutang kepada ekuiti. Strategi Kumpulan tidak berubah dari tahun
kewangan sebelumnya. Nisbah hutang kepada ekuiti dikira sebagai hutang bersih dibahagikan dengan jumlah ekuiti. Hutang
bersih dikira sebagai pinjaman campur pemiutang perdagangan dan lain-lain pemiutang tolak tunai dan setara tunai.
Nisbah hutang kepada ekuiti Kumpulan pada akhir tempoh pelaporan adalah seperti berikut:
Kumpulan
2010 2009
RM'000 RM'000
Hutang bersih 242,180 392,865
Jumlah ekuiti 504,252 564,249
Nisbah hutang kepada ekuiti 0.48 0.70
Kumpulan tidak melanggar sebarang keperluan penggearan dalam tahun-tahun kewangan berakhir 31 Disember 2009 dan
31 Disember 2010.
Di bawah keperluan No. Nota Amalan 17/2005 Bursa Malaysia, Syarikat diperlukan untuk mengekalkan ekuiti pemegang-
pemegang saham disatukan (jumlah ekuiti boleh dikaitkan dengan pemilik-pemilik Syarikat) bersamaan atau tidak kurang 25%
daripada modal saham yang diterbitkan dan berbayar (tidak termasuk saham perbendaharaan) dan ekuiti pemegang-
pemegang saham tersebut tidak kurang daripada RM40 juta. Syarikat telah mematuhi dengan keperluan ini.

(c) Pengkelasan Instrumen Kewangan
Kumpulan Syarikat
2010 2010
RM'000 RM'000
Aset kewangan
Aset kewangan pinjaman dan penghutang

Deposit boleh dikembalikan 90,930 –
Penghutang 53,966 1,416
Jumlah terhutang oleh anak-anak syarikat – 271
Jumlah terhutang oleh pihak berkaitan 36,614 259
Deposit tetap dengan bank berlesen 51,188 47,360
Tunai dan baki bank 18,293 3,018
250,991 52,324
Liabiliti kewangan
Nilai saksama melalui keuntungan atau kerugian

Liabiliti derivatif 3,070 –
Lain-lain liabiliti kewangan

Pemiutang 66,732 8,787
Jumlah terhutang kepada anak-anak syarikat – 123,839
Jumlah terhutang kepada pihak berkaitan 33 32
Pinjaman 244,896 200,186
314,731 332,844
laporan tahunan
2010
251

(d) Nilai Saksama Instrumen Kewangan
Jumlah penyimpanan aset kewangan dan liabiliti kewangan dilaporkan dalam penyata kewangan menyamai dengan nilai
saksamanya kecuali bagi yang berikut:
2010 2009
Jumlah Nilai Jumlah Nilai
Penyimpanan Saksama Penyimpanan Saksama
RM RM RM RM
Kumpulan
Deposit boleh dikembalikan 90,930 90,222 98,221 65,681

Pinjaman 244,472 223,940 445,000 419,739
Syarikat
Pinjaman 199,823 185,993 445,000 419,739
Yang berikut meringkaskan kaedah-kaedah digunakan dalam menentukan nilai saksama instrumen kewangan:
(i) Aset kewangan dan liabiliti kewangan yang matang dalam masa dua belas (12) bulan berikutnya menyamai nilai
saksamanya disebabkan oleh kematangan jangka pendek instrumen kewangan.
(ii) Nilai saksama deposit boleh dikembalikan dan pinjaman ditentukan dengan mendiskaunkan aliran tunai berkenaan
dengan menggunakan kadar faedah bagi instrumen serupa pada akhir tempoh pelaporan.
(iii) Nilai saksama instrumen derivatif adalah berdasarkan sebut harga broker.
Kadar faedah digunakan untuk mendiskaunkan anggaran aliran tunai, di mana terpakai, adalah seperti berikut:
Kumpulan Syarikat
2010 2009 2010 2009
% % % %
Deposit boleh dikembalikan 5.03 4.46 – –

Pinjaman 6.15 5.55 6.30 5.55

46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN
Butir-butir mengenai peristiwa-peristiwa penting dalam tahun kewangan adalah seperti berikut:
(i) Pada 23 Disember 2009, Syarikat menerima Perintah Ex-Parte Interim oleh Mahkamah Tinggi Kuala Lumpur (“Mahkamah
Tinggi”) (Bahagian Dagang) melalui Guaman No. 22NCC 735-2009 (“Guaman Derivatif”), menetapkan perbicaraan antara
pihak pada 11 Januari 2010 untuk menyekat Syarikat, Y.M. Tengku Dato’ Ibrahim Petra Bin Tengku Indra Petra (“TIP”) dan
tiga (3) pengarah Syarikat yang lain (secara kolektif dirujuk sebagai “Bekas Pengarah”) dan TA Securities Holdings Berhad
(“TA Securities”) daripada melupus pelaburan 29.59% saham selebihnya yang dipegang oleh Syarikat dalam Petra Energy
Berhad (“PEB”) sehingga rekuisisi Encik Shamsul Bin Saad (“Encik Shamsul”) bagi Mesyuarat Agung Luar Biasa pemegang-
pemegang saham Syarikat dan/atau sehingga pelupusan akhir Guaman Derivatif yang mana lebih awal.
Guaman Derivatif adalah tindakan derivatif diambil oleh Encik Shamsul dalam keupayaan Encik Shamsul sebagai pemegang
saham minoriti Syarikat, bagi manfaat Syarikat. Pengataan dalam Guaman Deriviatif adalah, antara lainnya, pelanggaran
kewajipan fidusiari, kewajipan berjaga-jaga di sisi common law dan ekuiti serta juga kewajipan statutori oleh Bekas Pengarah
tersebut di atas. Sebarang ganti rugi diperolehi akan diberikan semata-mata kepada Syarikat dan bukannya Encik Shamsul.
Hakim Mahkamah Tinggi pada 16 Ogos 2010 membebarkan permohonan oleh Bekas Pengarah terhadap Encik Shamsul
dengan kos atas alasan, antara lainnya, bahawa Guaman Derivatif tidak lagi boleh dipertahankan mengambil kira perubahan
dalam keadaan, iaitu isu kawalan Syarikat.
(ii) Pada 6 Januari 2010, Syarikat menerima notis khas bagi pemecatan TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng dan
Tiong Young Kong sebagai pengarah Syarikat, bersama dengan pemanggilan Mesyuarat Agung Luar Biasa selaras dengan
Seksyen 145 Akta Syarikat 1965 merangkap notis calon-calon iaitu, Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat Bin
Abdul Malik dan Ganesan A/L Sundaraj, sebagai pengarah selaras dengan Tataurusan 102(a) Tataurusan Pertubuhan Syarikat
(“EGM”), daripada beberapa pemegang saham Syarikat.
Pada 4 Februari 2010, EGM telah diadakan dan resolusi biasa yang dijadualkan sebagai resolusi 1 hingga resolusi 8 telah
diluluskan berakhir dengan pemecatan TIP, Datin Nariza Hajjar Hashim, Wong Fook Heng and Tiong Young Kong sebagai
pengarah Syarikat dan pelantikan Dato’ Kho Poh Eng, Koh Pho Wat, Surya Hidayat Bin Abdul Malik dan Ganesan A/L
Sundaraj, sebagai pengarah.
(iii) Pada 2 Februari 2010, Intra Oil Services Berhad (“IOS”) mengambil tindakan undang-undang terhadap Encik Shamsul and
Asia Marine Pte. Ltd. (“AMPL”) dalam Mahkamah Tinggi Kuala Lumpur melalui No. Guaman D-27NCC-2-2010 (“Guaman”)
berhubung dengan penandatanganan Perjanjian Broker (Komisen) bertarikh 9 Mac 2009 (“BCA”). Dalam guaman, IOS
mendakwa, antara lainnya, bahawa Encik Shamsul telah melanggar kewajipan fidusiari dan/ atau obligasi beliau terhadap
IOS memandangkan bayaran telah dibuat kepada AMPL sebelum BCA ditandatangani.
Pada 23 Februari 2010, Lembaga Pengarah IOS, kecuali bagi Encik Shamsul yang telah berkecuali daripada perbincangan
dan pengundian mengenai perkara, mengkaji guaman undang-undang dan mendapati bahawa guaman undang-undang
sebagai tidak berasas sama sekali. IOS kemudiannya telah menarik balik guaman undang-undang. ‘Notis Pemberhentian’ telah
difailkan dengan Mahkamah Tinggi Kuala Lumpur pada hari yang sama.
(iv) Pada 9 Februari 2010, Syarikat mengumumkan bahawa pelupusan Petra Endeavour kepada Petra Innotech Sdn. Bhd. selesai
dilaksanakan pada 27 Januari 2010.
(v) Pada 12 Februari 2010, Syarikat membuat prabayaran Tranche 3 dan Tranche 4 Kemudahan B dan sebahagian daripada
Tranche 2 Kemudahan B (RM150 juta pinjaman berjangka boleh pindah bersindiket) berjumlah RM108 juta.
laporan tahunan
2010
253

46. PERISTIWA-PERISTIWA PENTING DALAM TAHUN KEWANGAN (SAMB)
(vi) Pada 18 Mac 2010, IOS menerima kemudahan Pembiayana-i Berjangka Murabahah Komoditi sebanyak USD14.48 juta
untuk membiayai pembelian satu (1) unit bot kerja iaitu, Petra Sovereign untuk tempoh selama lima (5) tahun.
(vii) Pada 19 Mac 2010, Syarikat meminta syarikat bersekutunya, PEB untuk membayar balik keseluruhan jumlah belum dijelas
dengan serta-merta.
(viii) Pada 31 Mac 2010, Perdana Mercury Limited (“PML”) membuat penghantaran bot tunda kendalian sauh dan kapal bekalan
(“AHTS”), iaitu Petra Admiral dan menandatangani Carter Bareboat dengan Mount Tahan LLC untuk memajak balik kapal
tersebut untuk tempoh selama 120 bulan.
(ix) Pembelian Petra Sovereign selesai dilaksanakan selepas penghantaran kapal kepada IOS sebagai nomini bagi Perdana Venus
Limited (“PVL”) pada 3 Mei 2010.
(x) Pada 20 Mei 2010, PVL menandatangani Memorandum Perjanjian (“MOA”) dengan Mount Bintang LLC untuk melupuskan
Petra Liberty dan Petra Excelsiornya masing-masing bagi balasan sebanyak USD18 juta dan USD25 juta.
Selepas pelupusan, PML menandatangani Carter Bareboat dengan Mount Bintang LLC untuk memajak balik kapal tersebut
untuk tempoh selama enam puluh (60) bulan bermula dari tarikh penyerahan masing-masing ke atas dua (2) kapal dengan
opsyen untuk membeli kapal masing-masing pada akhir tempoh carter atas terma-terma dan syarat-syarat sebagaimana
ditetapkan dalam Perjanjian Opsyen ditandatangani di antara PML dan Mount Bintang LLC.
(xi) Pada 21 Mei 2010, IOS memfailkan tindakan dalam Mahkamah Tinggi melalui Writ Saman (No. Guaman D-22NCC-1005-2010)
(“Guaman IOS”) terhadap bekas pengarah IOS, iaitu TIP, Tiong Young Kong dan Wong Fook Heng bagi pelanggaran kewajipan
fidusiari dan/ atau kewajipan di sisi common law terhadap IOS.
Pada 20 Disember 2010, IOS memutuskan untuk menamatkan Guaman IOS dengan tidak ada perintah mengenai kos dan
tanpa kebebasan untuk memfailkan guaman baru.
(xii) Pada 26 Mei 2010, Syarikat mengumumkan bahawa Syarikat, bersama dengan Encik Shamsul, sebagai pemegang-pemegang
saham benefisial PEB, memberikan notis khas kepada PEB mengenai hasrat bersama mereka untuk mencadangkan resolusi
bagi memecat TIP, Lee Mee Jiong, Suhaimi Badrul Jamil sebagai pengarah PEB dan untuk melantik Koh Pho Wat dan Surya
Hidayat Bin Abdul Malik sebagai pengarah PEB. Pekeliling kepada pemegang-pemegang saham PEB bertarikh 31 Mei 2010
telah dihantar untuk mengadakan mesyuarat agung luar biasa pada 24 Jun 2010 (“PEB EGM”).
Pada 17 Jun 2010, Encik Suhaimi Badrul Jamil meletak jawatan sebagai pengarah PEB dan pada 18 Jun 2010, TIP dan Lee
Mee Jiong meletak jawatan sebagai pengarah PEB.
Pada 24 Jun 2010, Syarikat bersama dengan Encik Shamsul, menarik balik cadangan resolusi mengenai pelantikan Tetuan Koh
Pho Wat dan Encik Surya Hidayat Bin Abdul Malik pada EGM PEB memandangkan Syarikat telah menerima surat daripada
PEB bertarikh 22 Jun 2010 mempelawa Syarikat untuk mencalonkan wakil(wakil-wakil) kepada lembaga pengarah PEB.
Pada 13 Julai 2010, Surya Hidayat Bin Abdul Malik telah dilantik kepada lembaga pengarah PEB sebagai pengarah bukan
bebas dan bukan eksekutif.

(xiii) Pada 22 Jun 2010, Syarikat mengumumkan bahawa ia telah menerima surat daripada pemegang-pemegang saham tertentu
Syarikat, iaitu Chow Lean Keat, Datin Che Nariza Hajjar Hashim, Ramilah Joannah Sulaiman dan Nik Ismail Bin Tengku Besar
Indra Raja yang mencalonkan calon mereka masing-masing, John Pang Yun Nian, Dato’ Syed Norulzaman Bin Syed
Kamarulzaman, Suhaimi Bin Badrul Jamil dan Dato’ Shaik Sulaiman Bin S. Mohamed Ismail bagi pemilihan ke jawatan
pengarah Syarikat.
Pada 24 Jun 2010, Syarikat telah disampaikan oleh peguam cara Datin Che Nariza Hajjar Hashim dan peguam cara Nik
Ismail Bin Tengku Besar Indra Raja and Ramilah Joannah Sulaiman, salinan bersetem Saman Dalam Kamar bertarikh 23 Jun
2010 dan Saman Pemula bertarikh 23 Jun 2010 bersama dengan salinan Afidavit Sokongan berhubung dengan penundaan
Mesyuarat Agung Tahunan (“AGM”) Syarikat yang akan datang untuk diadakan pada 28 Jun 2010 sehingga tarikh tertentu
selepas pelupusan Saman Pemula.
Pada 28 Jun 2010, Syarikat mengumumkan bahawa Mahkamah Tinggi telah memberikan perintah bagi AGM Keempat Belas
untuk memulakan dengan resolusi nombor 1, 2, 7, 8, 9 dan 10 manakala penjadualan dan pengundian bagi resolusi nombor
3, 4, 5, dan 6 sebagaimana diperincikan dalam notis resolusi tambahan bertarikh 21 Jun 2010 akan dilakukan pada AGM
yang ditunda. AGM ditunda telah diadakan pada 20 Julai 2010 di One World Hotel, Kuala Lumpur.
Pada 1 Julai 2010, Syarikat mengumumkan bahawa pada 30 Jun 2010, peguam caranya telah memfailkan dalam Notis
Rayuan kepada Mahkamah Rayuan berhubung dengan keputusan Mahkamah Tinggi diberikan pada 28 Jun 2010 (“Rayuan”).
Pada hari yang sama, Syairkat memaklumkan bahawa mereka telah menerima surat bertarikh 30 Jun 2010 daripada John
Pang Yun Nian, menarik balik kebenaran beliau kepada pencalonan oleh pemegang saham, Chow Lean Keat, yang
mencalonkan beliau bagi pemilihan sebagai pengarah Syarikat.
Pada 15 Julai 2010, Syarikat selanjutnya mengumumkan bahawa mereka telah menerima tiga (3) surat, kesemuanya masing-
masing bertarikh 14 Julai 2010, daripada Ramilah Joannah Sulaiman, Datin Che Nariza Hajjar Hashim dan Nik Ismail Bin
Tengku Besar Indra Raja menarik balik pencalonan mereka ke atas Suhaimi Bin Badrul Jamil, Dato’ Syed Norulzaman Bin Syed
Kamarulzaman dan Dato’ Shaik Sulaiman Bin S. Mohamed Ismail sebagai pengarah Syarikat. Selain daripada itu, nomini-
nomini ini juga telah menarik balik notis pencalonan mereka masing-masing sebagai pengarah Syarikat bertarikh 8 Jun 2010
pada tarikh yang sama melalui surat kesemuanya bertarikh 14 Julai 2010.
Pada 8 September 2010, Syarikat mengumumkan bahawa perbicaraan Rayuan telah didengar oleh Mahkamah Rayuan pada
7 September 2010 dan Mahkamah Rayuan memutuskan bahawa Rayuan telah dianggap akademik atas alasan penarikan
balik pencalonan masing-masing dalam persoalan. Mahkamah Rayuan membuang kedua-dua Rayuan dengan tidak ada
perintah mengenai kos dan selanjutnya diperintahkan bahawa deposit Rayuan untuk dikembalikan kepada Syarikat. Merit-
merit Rayuan substantif tidak didengar tidak juga disuarakan.
(xiv) Pada 2 Julai 2010, Syarikat mengumumkan penyelesaian penempatan persendirian sebanyak 29,760,000 saham biasa baru
bernilai RM0.50 sesaham dalam Syarikat berikutan dengan penyenaraian dan sebut harga bagi saham-saham baru tersebut
pada Pasaran Utama Bursa Malaysia Securities Berhad (“Bursa Securities”) yang telah diterbitkan dan diperuntukkan pada
30 Jun 2010 pada harga terbitan RM1.32 setiap saham.
(xv) Pada 11 Ogos 2010, PVL memberikan notis pembatalan MOA berhubung dengan SK 202 Vessel kepada Nam Cheong
Dockyard Sdn. Bhd. (“NCD”) dan NCD telah bersetuju untuk mengembalikan sepenuhnya semua deposit dibayar lebih awal
sebanyak USD8.85 juta.
laporan tahunan
2010
255

Akibat daripada pembatalan, sebahagian daripada perolehan daripada penempatan persendirian berjumlah RM19.78
juta yang sebelum ini dihasratkan untuk digunakan terhadap bayaran SK 202 Vessel yang telah ditandakan untuk tujuan
modal kerja.
(xvi) Pada 1 November 2010, Syarikat mengumumkan penyelesaian terbitan hak boleh lepas sebanyak RM0.50 sesaham dalam
Syarikat berikutan dengan penyenaraian dan sebut harga bagi saham-saham baru pada Pasaran Utama Bursa Securities yang
telah diterbitkan dan diperuntukkan pada 27 Oktober 2010 pada harga terbitan RM0.59 setiap saham.
(xvii) Pada 19 November 2010, Perdana Nautika Sdn. Bhd. (“PNSB”) telah diperbadankan dengan modal saham yang diterbitkan
dan berbayar bernilai RM2.00 sesaham dibahagikan dengan 2 saham biasa bernilai RM1.00. Kegiatan utama PNSB adalah
untuk menyediakan perkhidmatan sokongan marin luar pesisir bagi industri minyak dan gas huluan dalam pasaran domestik.
Pada 28 Disember 2010, Syarikat mengumumkan bahawa ia selanjutnya telah melanggan bagi 54,998 saham biasa baru
tambahan bernilai RM1.00 sesaham pada tara dalam modal saham PNSB mewakili 55% daripada modal saham PNSB yang
diperbesarkan. Baki sebanyak 45% pegagan ekuiti dalam modal saham PNSB yang diperbesarkan telah dilanggan oleh
Kelana Teroka Sdn. Bhd., 100% syarikat bumiputra diperbadankan di Malaysia dengan pengalaman dalam perkhidmatan
sokongan marin luar pesisir. Antara lain, PNSB dalam strukturnya untuk melaksanakan syarat-syarat Lesen Petronas bagi
perkhidmatan sokongan marin luar pesisir domestik.
47. PERISTIWA PENTING BERLAKU SELEPAS TEMPOH PELAPORAN
Ampangship Marine Sdn. Bhd. (“AMS”) menandatangani MOA bertarikh 23 Mac 2011 untuk melupuskan kapal tunda kerja
kemudahannya iaitu, Emerald kepada PT PANN (Persero), sebuah syarikat yang diperbadankan di Indonesia bagi jumlah balasan
tunai sebanyak USD8.2 juta. Pelupusan selesai dilaksanakan selepas penghantaran kapal tunda kerja kemudahann kepada PT
PANN (Persero) pada 8 April 2011.
48. ANGKA-ANGKA PERBANDINGAN
Angka-angka perbandingan berikut telah dikelaskan semula untuk menyamai dengan pembentangan tahun kewangan semasa:
Kumpulan Syarikat
Sebagaimana Sebagaimana Sebagaimana Sebagaimana
Dinyatakan Dilaporkan Dinyatakan Dilaporkan
Semula Sebelum Ini Semula Sebelum Ini
RM’000 RM’000 RM’000 RM’000
Penyata Kedudukan Kewangan (Petikan):
Aset Bukan Semasa

Jumlah terhutang oleh anak-anak syarikat – – 353,576 329,715
Deposit boleh dikembalikan 98,221 75,106 – –
Aset Semasa
Penghutang 97,827 120,942 15,104 38,965

49. MAKLUMAT TAMBAHAN - PENDEDAHAN MENGENAI KEUNTUNGAN DINYATAKAN DAN TIDAK DINYATAKAN
Pada 25 Mac 2010, Bursa Securities menerbitkan arahan kepada semua pembuat terbitan tersenarai selaras dengan Perenggan
2.06 dan 2.23 Syarat-syarat Penyenaraian Pasaran Utama Bursa Securities. Arahan memerlukan agar semua pembuat terbitan
tersenarai untuk mendedahkan pecahan daripada keuntungan tidak diasingkan atau kerugian terkumpul pada akhir tempoh
pelaporan, kepada keuntungan atau kerugian direalis dan tidak direalis.
Pada 20 Disember 2010, Bursa Securities selanjutnya mengeluarkan panduan mengenai pendedahan dan format yang diperlukan.
Pecahan daripada keuntungan tertahan Kumpulan pada 31 Disember 2010, kepada keuntungan direalis dan tidak direalis, selaras
dengan arahan, adalah seperti berikut:
Kumpulan Syarikat
2010 2010
RM'000 RM'000
Jumlah keuntungan tertahan:
– direalis 189,677 138,071
– tidak direalis (29,406) 45
160,271 138,116
Jumlah bahagian keuntungan tertahan daripada syarikat bersekutu:
– direalis 60,508 –
– tidak direalis (7,935) –
212,844 138,116
Tolak: Pelarasan penyatuan 27,954 –
Pada 31 Disember 240,798 138,116
Penentuan keuntungan direalis dan tidak direalis dikumpulkan berdasarkan Panduan mengenai Perkara Khas No. 1, Penentuan
Keuntungan atau Kerugian Direalis dan Tidak Direalis dalam Konteks Pendedahan Selaras dengan Syarat-syarat Penyenaraian
Bursa Securities, dikeluarkan oleh Institut Akauntan Malaysia pada 20 Disember 2010.
Pendedahan keuntungan direalis dan tidak direalis di atas adalah semata-mata untuk mematuhi dengan syarat-syarat pendedahan
ditetapkan dalam arahan Bursa Securities dan tidak boleh digunakan untuk sebarang tujuan lain.
laporan tahunan
2010
annual report 257
List of Properties as at 31 December 2010
Senarai Hartanah pada 31 Disember 2010
REMAINING AGE OF
LEASE PERIOD/ PROPERTY/
STATUS/ TEMPOH PAJAKAN USIA NBV/
ADDRESS/ALAMAT DESCRIPTION/JENIS KEDUDUKAN YANG TINGGAL HARTANAH NBB
Petra Perdana Berhad Shop Office/ Leasehold/ 65 12 1,664

No. 4, Jalan 3/3C, Batu 7, Kedai Pejabat Pegangan Pajak
Off Jalan Ipoh,
68100 Kuala Lumpur
Statistical Report as at 29 April 2011
Laporan Statistik pada 29 April 2011
ANALYSIS BY SIZE OF WARRANT HOLDINGS/ ANALISIS SAIZ PEGANGAN WARAN
No. of Warrants in issue/Bil. Waran yang diterbitkan : 61,379,785

Exercise Price of Warrants/Harga Pelaksanaan Waran : RM1.00
Expiry Date of Warrants/Tarikh Luput Waran : 26 October 2015
Voting Rights at Warrant Holders’ Meeting /
Hak Mengundi di Mesyuarat Pemegang Waran : One vote per warrant held/ Satu undian bagi setiap pegangan waran
NO. OF % OF NO. OF % OF
WARRANT WARRANT WARRANT WARRANT
HOLDERS/ HOLDERS/ HOLDING/ ISSUED/
BIL. PERATUS BIL. PERATUS
SIZE OF HOLDINGS/ PEMEGANG PEGANGAN PEGANGAN WARAN
SAIZ PEGANGAN WARAN WARAN WARAN DITERBITKAN
Less than/ kurang daripada 100 207 6.50 9,884 0.02

100 – 1,000 1,070 33.57 607,564 0.99
1,001 – 10,000 1,258 39.47 5,783,459 9.42
10,001 – 100,000 579 18.17 19,042,409 31.02
100,001 – less than 5% of issued Warrants 71 2.23 24,776,469 40.37
tidak sampai 5% saham terbitan
5% and above of issued Warrants 2 0.06 11,160,000 18.18
atau lebih saham terbitan
Total/Jumlah 3,187 100.00 61,379,785 100.00
LIST OF DIRECTORS’ WARRANT HOLDINGS AS AT 29 APRIL 2011/

SENARAI PEGANGAN WARAN PARA PENGARAH PADA 29 APRIL 2011
NO. OF WARRANTS/BILANGAN WARAN
DIRECT INTEREST/ % INDIRECT INTEREST/ %

NAME OF DIRECTORS/ KEPENTINGAN PERATUS KEPENTINGAN PERATUS
NAMA PENGARAH LANGSUNG TIDAK LANGSUNG
Dato' Kho Poh Eng 2,844,724 4.63 14,466# 0.02

Koh Pho Wat 2,934,200 4.78 42,484 #
0.07
Shamsul Saad 673,687 1.26 1,312 #
–
Surya Hidayat Abdul Malik – – – –
Ganesan Sundaraj – – – –
Raja Anuar Raja Abu Hassan – – – –
Idris Zaidel – – – –
Hamdan Rasid – – – –
Note:
#
Deemed interest pursuant to Section 134(12)(c) of the Companies Act, 1965./
Dianggap sebagai kepentingan selaras dengan Seksyen 134(12)(c) Akta Syarikat, 1965.
laporan tahunan
2010
annual report 259
THIRTY LARGEST WARRANT HOLDERS AS AT 29 APRIL 2011/

TIGA PULUH (30) PEMEGANG WARAN TERBESAR PADA 29 APRIL 2011
% OF WARRANTS
NO. OF ISSUED/
WARRANTS/ PERATUS MODAL
NO./ NAME OF WARRANT HOLDERS/ BILANGAN WARAN
BIL. NAMA PEMEGANG WARAN WARAN DITERBITKAN
1. Lembaga Tabung Haji 5,580,000 9.09
2. Nam Cheong Dockyard Sdn Bhd 5,580,000 9.09
3. Alliancegroup Nominees (Tempatan) Sdn Bhd 2,924,201 4.76

Pledged securities account for Koh Pho Wat
4. Kho Poh Eng 1,957,224 3.19
5. Lee Kek Ming 1,950,000 3.18
6. Upstream Downstream Process & Services Sdn Bhd 833,400 1.36
7. Alliancegroup Nominees (Tempatan) Sdn Bhd 793,750 1.29

Pledged securities account for Kho Poh Eng
8. Kong Yoke Chan 700,000 1.14
9. CIMSEC Nominees (Tempatan) Sdn Bhd 650,250 1.06

CIMB Bank for Shamsul Saad
10. Citigroup Nominees (Asing) Sdn Bhd 637,562 1.04

Exempt An for OCBC Securities Private Limited
11. HSBC Nominees (Asing) Sdn Bhd 587,499 0.96

Exempt An for The Bank of New York Mellon SA/NV
12. Ang Eng Huat 500,000 0.81
13. TA Nominees (Tempatan) Sdn Bhd 500,000 0.81

Pledged securities account for Loh Tai Cheong @ Chin Tai Cheong
14. Tan Geng Sing 490,000 0.80
15. RHB Nominees (Asing) Sdn Bhd 455,000 0.74

Pledged securities account for Tan Geng Sing
Statistical Report as at 29 April 2011 (cont’d)

Laporan Statistik pada 29 April 2011 (samb)
THIRTY LARGEST WARRANT HOLDERS AS AT 29 APRIL 2011 (CONT’D)/

TIGA PULUH (30) PEMEGANG WARAN TERBESAR PADA 29 APRIL 2011 (SAMB)
% OF WARRANTS
NO. OF ISSUED/
WARRANTS/ PERATUS MODAL
NO./ NAME OF WARRANT HOLDERS/ BILANGAN WARAN
BIL. NAMA PEMEGANG WARAN WARAN DITERBITKAN
16. Chan Choon Ngai 400,000 0.65
17. AMSEC Nominees (Tempatan) Sdn Bhd 350,437 0.57

AmTrustee Berhad for Pacific Pearl Fund
18. Ng Saw Thong 340,000 0.55
19. AMSEC Nominees (Tempatan) Sdn Bhd 330,000 0.54

Pledged securities account for Tan Lee Seng
20. CIMSEC Nominees (Tempatan) Sdn Bhd 309,600 0.50

CIMB Bank for Hooi Hing Lee
21. RHB Capital Nominees (Tempatan) Sdn Bhd 300,075 0.49

Pledged securities account for Chi Kain Sang
22. Kuasatek (M) Sdn Bhd 300,000 0.49
23. Mayban Securities Nominees (Tempatan) Sdn Bhd 300,000 0.49

Pledged securities account for Lourds Easurajan A/L Arulanandam
24. RHB Nominees (Tempatan) Sdn Bhd 300,000 0.49

RHB Investment Management Sdn Bhd for Yoong Kah Yin
25. Soon Fook Kian 294,000 0.48
26. JF Apex Nominees (Tempatan) Sdn Bhd 290,000 0.47

Pledged securities account for Chow Heng Lan
27. Loh Yet Kong 290,000 0.47
28. Tan Hock Leong 277,300 0.45
29. Kwan Yok Fun 271,933 0.44
30. Mayban Nominees (Tempatan) Sdn Bhd 269,000 0.44

Lo Mui Yun @ Jill Lo
laporan tahunan
2010
annual report 261
ANALYSIS BY SIZE OF SHAREHOLDINGS/ ANALISIS OLEH SAIZ PEGANGAN SAHAM
Authorised Share Capital/Modal Saham Dibenarkan : RM500,000,000

Issued and Paid-up Share Capital/ : RM225,060,000 divided into/membahagikan 450,120,000 ordinary
Modal yang Diterbitkan dan Berbayar shares of/Saham biasa bernilai RM0.50 each/sesaham
Class of Shares/Kelas Saham : Ordinary shares of/Saham biasa bernilai RM0.50 each/sesaham
Voting Rights/Hak Mengundi : One vote per ordinary share held/
Satu undi bagi setiap saham biasa yang dipegang
% OF ISSUED
AND PAID-UP
NO. OF % OF SHARE CAPITAL/
SHAREHOLDERS/ SHAREHOLDERS/ NO. OF PERATUS MODAL
BILANGAN PERATUS SHARES/ SAHAM
SIZE OF SHAREHOLDINGS/ PEMEGANG PEMEGANG BILANGAN DITERBITKAN DAN
SAIZ PEGANGAN SAHAM SAHAM SAHAM SAHAM DIBAYAR
Less than/kurang daripada 100 180 1.86 7,479 0.00

100 – 1,000 886 9.23 685,957 0.15
1,001 – 10,000 5,691 59.30 30,310,038 6.73
10,001 – 100,000 2,500 26.05 76,202,589 16.93
100,001 – less than 5% of issued shares 338 3.52 261,073,937 58.00
tidak sampai 5% saham terbitan
5% and above of issued shares 2 0.02 81,840,000 18.18
atau lebih saham terbitan
Total/Jumlah 9,597 100.00 450,120,000 100.00
LIST OF DIRECTORS’ SHAREHOLDING AS AT 29 APRIL 2011/

SENARAI PEGANGAN SAHAM PARA PENGARAH PADA 29 APRIL 2011
NO. OF SHARES/BILANGAN SAHAM
DIRECT INTEREST/ % INDIRECT INTEREST/ %

NAME OF DIRECTORS/ KEPENTINGAN PERATUS KEPENTINGAN PERATUS
NAMA PENGARAH LANGSUNG TIDAK LANGSUNG
Dato' Kho Poh Eng 19,885,078 4.42 100,000# 0.02

Koh Pho Wat 22,517,731 4.78 311,000 #
0.07
Shamsul Saad 11,584,375 2.57 9,625 #
–
Surya Hidayat Abdul Malik – – – –
Ganesan Sundaraj – – – –
Raja Anuar Raja Abu Hassan – – – –
Idris Zaidel – – – –
Hamdan Rasid – – – –
Note:
#
Deemed interest pursuant to Section 134(12)(c) of the Companies Act, 1965./
Kepentingan anggapan selaras dengan Seksyen 134 (12)(c) Akta Syarikat, 1965.

SHARES IN RELATED CORPORATION
None of the above Directors has any direct interest in shares in the related corporation as at 29 April 2011./
Tiada Pengarah yang dinamakan di atas mempunyai kepentingan langsung dalam saham-saham syarikat berkaitan pada 29 April 2011
SUBSTANTIAL SHAREHOLDERS AS AT 29 APRIL 2011/PEMEGANG SAHAM UTAMA PADA 29 APRIL 2011
NO. OF SHARES/BILANGAN SAHAM
DIRECT INTEREST/ INDIRECT INTEREST/

NAME/ KEPENTINGAN % KEPENTINGAN %
NAMA LANGSUNG PERATUS TIDAK LANGSUNG PERATUS
Lembaga Tabung Haji 40,920,000 9.09 1,207,475@ 0.27
Nam Cheong Dockyard Sdn Bhd 40,920,000 9.09 – –
S.K. Tiong Enterprise Sdn Bhd – – 40,920,000@ 9.09
Hung Yung Enterprise Sdn Bhd – – 40,920,000@ 9.09
Datuk Tiong Su Kuok – – 40,920,000@ 9.09
Unione Enterprise (S) Sdn Bhd – – 40,920,000@ 9.09
Lau Pek Kii – – 40,920,000@ 9.09
Chen Sien Ngo – – 40,920,000@ 9.09
Lau Liong Kii 72,500 0.02 40,920,000@ 9.09
Ting Yong Ding 41,250 0.01 40,920,000@ 9.09
Note:
@
Deemed interest pursuant to Section 6A of the Companies Act, 1965./
Dianggap sebagai kepentingan selaras dengan Seksyen 6A Akta Syarikat 1965.
laporan tahunan
2010
annual report 263
THIRTY LARGEST SHAREHOLDERS AS AT 29 APRIL 2011/

TIGA PULUH (30) PEMEGANG SAHAM TERBESAR PADA 29 APRIL 2011
% OF ISSUED
AND PAID-UP
SHARE CAPITAL/
NO. OF PERATUS MODAL
SHARES/ SAHAM
NO./ NAME OF SHAREHOLDERS/ BILANGAN DITERBITKAN DAN
BIL. NAMA PEMEGANG SAHAM SAHAM DIBAYAR
1. Lembaga Tabung Haji 40,920,000 9.09
2. Nam Cheong Dockyard Sdn Bhd 40,920,000 9.09

Pledged securities account for Koh Pho Wat
4. Amanahraya Trustees Berhad 15,591,300 3.46

Amanah Saham Wawasan 2020
5. SBB Nominees (Tempatan) Sdn Bhd 12,496,320 2.78

Kumpulan Wang Persaraan (Diperbadankan)
6. Kho Poh Eng 11,914,448 2.65
7. CIMSEC Nominees (Tempatan) Sdn Bhd 11,412,500 2.54

CIMB Bank for Shamsul Bin Saad
8. Cosmos Time Sdn Bhd 10,463,496 2.32
9. Yap Ah Fatt 6,400,000 1.42
10. HSBC Nominees (Asing) Sdn Bhd 6,200,000 1.38

Exempt An for JPMorgan Chase Bank, National Association
11. Citigroup Nominees (Asing) Sdn Bhd 5,919,500 1.32

Exempt An for Merrill Lynch Pierce Fenner & Smith Incorporated

13. RHB Nominees (Tempatan) Sdn Bhd 4,833,800 1.07

RHB Investment Management Sdn Bhd for Kumpulan
Wang Persaraan (Diperbadankan)

Exempt An for The Bank of New York Mellon SA/NV
15. Cartaban Nominees (Asing) Sdn Bhd 3,966,400 0.88

Exempt An for Caceis Bank Luxembourg

THIRTY LARGEST SHAREHOLDERS AS AT 29 APRIL 2011(CONT’D)/

TIGA PULUH (30) PEMEGANG SAHAM TERBESAR PADA 29 APRIL 2011(SAMB)
% OF ISSUED
AND PAID-UP
SHARE CAPITAL/
NO. OF PERATUS MODAL
SHARES/ SAHAM
NO./ NAME OF SHAREHOLDERS/ BILANGAN DITERBITKAN DAN
BIL. NAMA PEMEGANG SAHAM SAHAM DIBAYAR
16. Universal Trustee (Malaysia) Berhad 2,900,000 0.64

CIMB Islamic Small Cap Fund

Exempt An for The Hong Kong And
Shanghai Banking Corporation Limited
18. HSBC Nominees (Tempatan) Sdn Bhd 2,776,600 0.62

HSBC (M) Trustee Bhd for Pertubuhan Keselamatan Sosial
19. AmBank (M) Berhad 2,438,530 0.54

20. CIMB Group Nominees (Tempatan) Sdn Bhd 2,436,800 0.54

AmTrustee Berhad for CIMB Islamic Dali Equity Theme Fund
21. Amsec Nominees (Tempatan) Sdn Bhd 2,300,275 0.51

AmTrustee Berhad for Pacific Pearl Fund
22. Kam Loong Credit Sdn Bhd 2,300,000 0.51
23. Mayban Nominees (Tempatan) Sdn Bhd 2,268,000 0.53

Mayban Trustees Berhad for RHB Capital Fund
24. Foo Khen Ling 2,200,000 0.49

HSBC (M) Trustee Bhd for OSK-UOB Growth and Income Focus Trust

Malaysian Trustees Berhad for AMB Smallcap Trust

HSBC (M) Trustee Bhd for OSK-UOB Small Cap Opportunity Unit Trust
28. Kam Loong Mining Sdn Bhd 1,800,000 0.40
29. Soon Fook Kian 1,799,000 0.40

Mayban Trustees Berhad for CIMB-Principal Small Cap Fund
2010
annual report 265
Notice of Annual General Meeting

NOTICE IS HEREBY GIVEN THAT the Fifteenth Annual General Meeting of the Company will be held at No. 6-8, Jalan 3/3C, Batu 7,
Jalan Ipoh, 68100 Kuala Lumpur on Wednesday, 29 June 2011 at 11.00 a.m. for the following purposes:
AGENDA
1. To receive the Audited Financial Statements for the financial year ended 31 December 2010 and the Reports of the Directors and
Auditors thereon.
2. To approve the payment of Directors’ fees. Resolution 1
3. To re-elect the following Directors retiring pursuant to the Articles of Association of the Company:
3.1 Koh Pho Wat (Article 103) Resolution 2

3.2 Ganesan Sundaraj (Article 103) Resolution 3
3.3 Hamdan Rasid (Article 109) Resolution 4
4. To re-appoint Auditors and to authorise the Board of Directors to fix their remuneration. Resolution 5
5. As Special Business
To consider and if thought fit, pass the following Resolutions:
ORDINARY RESOLUTION Resolution 6

Authority to issue shares pursuant to Section 132D of the Companies Act, 1965
"THAT pursuant to Section 132D of the Companies Act, 1965 and subject always to the approval of the relevant authorities, the
Directors be and are hereby empowered to issue shares in the Company from time to time and upon such terms and conditions and
for such purposes as the Directors may deem fit provided that the aggregate number of shares issued pursuant to this resolution does
not exceed 10% of the issued share capital of the Company for the time being and that the Directors be and are also empowered
to obtain the approval for the listing of and quotation for the additional shares so issued on the Bursa Malaysia Securities Berhad
and that such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company."
SPECIAL RESOLUTION Resolution 7

Change of Company’s Name
"THAT the name of the Company be changed from Petra Perdana Berhad to Perdana Petroleum Berhad with effect from the date of
the issuance of the Certificate of Incorporation on Change of Name of the Company by the Companies Commission of Malaysia
AND THAT the Directors and the Secretary of the Company be and are hereby authorised to carry out all the necessary formalities
in effecting the change of name."
By Order of the Board
LEONG OI WAH (MAICSA 7023802)

Company Secretary
7 June 2011
Notice of Annual General Meeting (cont’d)
Notes:
A member of the Company entitled to attend and vote at the above mentioned meeting is entitled to appoint a proxy to attend and vote
his stead. Such proxy may but need not be a member of the Company and Section 149(1)(a) and (b) of the Companies Act, 1965 shall
not apply. Where there are two (2) or more proxies, the member shall specify the proportion of his shareholdings to be represented by
each proxy.
Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991,
it may appoint at least one (1) proxy in respect of each securities account it holds with ordinary shares of the Company standing to the
credit of the said securities account.
The instrument appointing a proxy shall be in writing (in the common or usual form) under the hand of the appointor or of his attorney
duly authorized in writing or, if the appointor is a corporation, either under the seal or under the hand of an officer or attorney duly
authorised.
The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified
copy of that power or authority must be deposited at Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200
Kuala Lumpur not less than forty-eight (48) hours before the time set for holding the meeting or adjourn meeting.
Explanatory notes on Special Business:
Ordinary Resolution
The proposed Ordinary Resolution will give powers to the Directors to issue up to a maximum ten per centum (10%) of the issued share
capital of the Company for the time being for such purposes as the Directors would consider in the best interest of the Company. This
authority, unless revoked or varied by the Company at a general meeting, will expire at the next Annual General Meeting of the Company.
The general mandate sought for issue of securities is a renewal of the mandate that was approved by the shareholders on 28 June 2010
(“Previous Mandate”). The Company had used the Previous Mandate for the Private Placement exercise as announced on 11 May 2010
and raised proceeds of RM39.28 million through the issuance of 29,760,000 ordinary shares of RM0.50 each at an issue price of
RM1.32 each on 30 June 2010 for working capital purposes. The renewal of the general mandate is to provide flexibility to the Company
to issue new securities without the need to convene separate general meeting to obtain its shareholders’ approval so as to avoid incurring
additional cost and time. The purpose of this general mandate is for possible fund raising exercises including but not limited to further
placement of shares for purpose of funding of working capital, repayment of borrowings, payment of refundable deposits in respect of
sale and leaseback of vessels and/or investments.
Special Resolution
The proposed Special Resolution is to change the name of the Company to better reflect the activities of the Company and its subsidiaries
in the oil and gas industry.
laporan tahunan
2010
267
Notis Mesyuarat Agung Tahunan

DENGAN INI NOTIS DIBERI BAHAWA Mesyuarat Agung Tahunan Kelima Belas Petra Perdana Berhad (“Syarikat”) akan diadakan
di No. 6-8, Jalan 3/3C, Batu 7, Jalan Ipoh, 68100 Kuala Lumpur pada hari Isnin, 29 Jun 2011 jam 11.00 pagi untuk melaksanakan
urusan-urusan berikut:
AGENDA
1. Untuk menerima Penyata Kewangan Beraudit bagi tahun kewangan berakhir 31 Disember 2010 dan Laporan-Laporan Pengarah
dan Juruaudit mengenainya.
2. Untuk meluluskan bayaran yuran para Pengarah. Resolusi 1
3. Untuk melantik semula para Pengarah berikut yang bersara menurut Tataurusan Pertubuhan Syarikat:
3.1 Koh Pho Wat (Article 103) Resolusi 2

3.2 Ganesan Sundaraj (Article 103) Resolusi 3
3.3 Hamdan Rasid (Article 109) Resolusi 4
4. Untuk melantik semula Juruaudit dan untuk memberi kuasa kepada Lembaga Pengarah untuk Resolusi 5
menetapkan imbuhan mereka.
5. Sebagai Urusan Khas

Untuk menimbang dan jika difikirkan sesuai, meluluskan Resolusi berikut:
RESOLUSI BIASA Resolusi 6

Kuasa untuk menerbitkan saham mengikut Seksyen 132D Akta Syarikat, 1965
"BAHAWA sentiasa tertakluk kepada kelulusan pihak berkuasa berkaitan dan menurut Seksyen 132D Akta Syarikat, 1965, para
Pengarah adalah dan dengan ini diberi kuasa untuk menerbitkan saham Syarikat pada bila-bila masa dan atas terma dan syarat
tertentu dan untuk sebarang tujuan yang para Pengarah, menurut budi bicara mereka, fikirkan sesuai dengan syarat bahawa
bilangan agregat saham biasa yang akan diterbitkan tidak melebihi sepuluh peratus (10%) daripada jumlah modal saham
diterbitkan Syarikat pada masa penerbitan tersebut dan bahawa para Pengarah turut diberikan kuasa untuk mendapatkan
kelulusan penyenaraian dan sebut harga untuk saham tambahan yang diterbitkan di Bursa Malaysia Securities Berhad dan bahawa
kuasa berkenaan hendaklah terus berkuat kuasa sehingga tamat Mesyuarat Agung Tahunan Syarikat akan datang.”
RESOLUSI KHAS Resolusi 7

Pertukaran Nama Syarikat
“BAHAWA nama Syarikat ditukar daripada Petra Perdana Berhad kepada Perdana Petroleum Berhad berkuat kuasa dari tarikh
terbitan Perakuan Pemerbadanan Pertukaran Nama Syarikat oleh Suruhanjaya Syarikat Malaysia DAN BAHAWA para Pengarah
dan Setiausaha Syarikat dengan ini dibenarkan menjalankan segala urusan yang perlu untuk melaksanakan pertukaran nama.”
Atas Perintah Lembaga
LEONG OI WAH (MAICSA 7023802)

Setiausaha Syarikat
7 Jun 2010
Notis Mesyuarat Agung Tahunan (samb)
Nota:
Seorang ahli Syarikat yang layak hadir dan mengundi di mesyuarat yang dinyatakan di atas, berhak untuk melantik seorang proksi
untuk menghadiri dan mengundi bagi pihaknya. Proksi tersebut boleh tetapi tidak semestinya seorang ahli Syarikat dan Seksyen
149(1)(a) dan (b) Akta Syarikat, 1965 tidak digunapakai. Jika dua (2) orang atau lebih proksi dilantik, ahli yang melantik mereka
hendaklah menyatakan bahagian pegangan sahamnya yang akan diwakili oleh setiap proksi.
Jika seorang ahli Syarikat merupakan nomini yang diberi kuasa sebagaimana ditakrif di bawah Akta Industri Sekuriti (Depositori Pusat),
1991, beliau boleh melantik sekurang-kurangnya satu (1) orang proksi bagi setiap akaun sekuriti yang dipegangnya dengan saham
biasa Syarikat yang berada dalam kedudukan kredit bagi akaun sekuriti tersebut.
Surat cara pelantikan seorang proksi hendaklah dalam bentuk tulisan (dalam bentuk am atau biasa) dengan ditandatangani oleh
pelantik atau peguam beliau yang telah diberi kuasa sewajarnya dalam tulisan atau, jika pelantik adalah sebuah perbadanan, sama
ada di bawah meterai atau di bawah tandatangan pegawai atau peguam yang telah diberi kuasa sewajarnya.
Surat cara pelantikan seorang proksi dan kuasa peguam atau kuasa lain, jika ada, yang telah ditandatangani atau satu salinan
kuasa atau autoriti yang disahkan hendaklah dihantar di Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed
Putra, 59200 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum masa ditetapkan untuk mesyuarat diadakan atau
sebarang penangguhannya.
Nota penjelasan mengenai Urusan-urusan Khas:
Resolusi Biasa
Cadangan Resolusi Biasa akan memberi kuasa kepada para Pengarah Syarikat, untuk menerbitkan sehingga maksimum sepuluh peratus
(10%) jumlah saham modal diterbitkan Syarikat buat masa sekarang bagi tujuan yang dianggap kepentingan terbaik Syarikat. Kuasa
ini akan luput, melainkan dibatalkan atau diubah oleh Syarikat dalam mesyuarat agung, pada Mesyuarat Agung Tahunan Syarikat yang
akan datang.
Mandat am yang diperlukan bagi terbitan sekuriti ialah pembaharuan kepada mandat am yang dluluskan oleh para pemegang saham
pada 28 Jun 2010 (“Mandat Terdahulu”). Syarikat telah menggunakan Mandat Terdahulu dalam Peletakan Persendirian seperti yang
diumumkan pada 11 Mei 2010 dan menjana hasil RM39.28 juta melalui penerbitan 29,760,000 saham biasa RM0.50 setiap satu
dengan harga terbitan RM1.32 setiap satu pada 30 Jun 2010 bagi tujuan modal kerja.Pembaharuan semula mandat am ialah untuk
memberikan fleksibiliti kepada Syarikat untuk menerbitkan sekuriti baru tanpa perlu memanggil mesyuarat agung yang lain bagi
mendapatkan kelulusan pemegang saham bertujuan mengelakkan pengeluaran kos dan masa tambahan. Tujuan mandat am ialah
untuk cadangan pelaksanaan pengumpulan dana yang termasuk tetapi tidak terhad kepada peletakan saham tambahan bagi tujuan
pendanaan modal kerja, membayar balik pinjaman, membayar deposit boleh dikembalikan berhubung penjualan dan pemajakan
balik kapal dan/atau pelaburan.
Resolusi Khas
Cadangan Resolusi Khas ialah untuk menukar nama Syarikat supaya ia lebih mencerminkan aktiviti Syarikat dan anak-anak syarikat
di dalam industri minyak dan gas.
(Company No. 372113-A)
(Incorporated in Malaysia)
Proxy Form Number of Shares Held
*I/*We
of
being a member/members of PETRA PERDANA BERHAD hereby appoint
of
or failing whom
of
or *the Chairman of the Meeting as *my/*our proxy to vote for *me/*us and on *my/*our behalf at the Fifteenth Annual General Meeting
of the Company to be held on Wednesday, 29 June 2011 at 11.00 a.m. and at any adjournment thereof.
*My/*Our proxy(ies) is/are to vote as indicated below:
Agenda Resolution For Against

To approve payment of Directors’ fees. 1
To re-elect Koh Pho Wat 2
To re-elect Ganesan Sundaraj 3
To re-elect Hamdan Rasid 4
To re-appoint Auditors of the Company for the ensuing year. 5
To authorize the issuance of shares pursuant to Section 132D of the 6
Companies Act, 1965.
To approve the change of Company’s name. 7
[Please indicate with (X) how you wish your vote to be cast. If no specific direction as to voting is given, the proxy will vote or abstain at
his discretion].
Dated this...................... day of .................................. 2011
[Signature/Common Seal of Shareholder(s)]

[*Delete if not applicable]
Notes:
A member of the Company entitled to attend and vote at the above mentioned meeting is entitled to appoint a proxy to attend and vote his stead. Such proxy may but need
not be a member of the Company and Section 149(1)(a) and (b) of the Companies Act, 1965 shall not apply. Where there are two (2) or more proxies, the member shall
specify the proportion of his shareholdings to be represented by each proxy.
Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991, it may appoint at least one (1) proxy
in respect of each securities account it holds with ordinary shares of the Company standing to the credit of the said securities account.
The instrument appointing a proxy shall be in writing (in the common or usual form) under the hand of the appointor or of his attorney duly authorized in writing or, if the
appointor is a corporation, either under the seal or under the hand of an officer or attorney duly authorised.
The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority must
be deposited at Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur not less than forty-eight (48) hours before the time set for
holding the meeting or adjourn meeting.
Fold Here
STAMP

c/o Tricor Investors Services Sdn Bhd
Level 17 The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Fold Here
(No. Syarikat 372113-A)
(Diperbadankan di Malaysia)
Borang Proksi Jumlah Pegangan Saham
Saya*/Kami*
beralamat di
sebagai ahli PETRA PERDANA BERHAD dengan ini melantik
beralamat di
atau jika beliau gagal hadir
atau Pengerusi Mesyuarat* sebagai proksi saya*/kami* untuk mengundi bagi pihak saya*/kami* di Mesyuarat Agung Tahunan Kelima
Belas Syarikat yang akan diadakan pada hari Rabu, 29 Jun 2011, pukul 11.00 pagi dan pada sebarang penangguhannya.
Proksi saya*/kami* mengundi seperti yang ditunjukkan di bawah:
Agenda Resolusi Sokong Tolak

Untuk meluluskan pembayaran yuran para Pengarah 1
Untuk memilih semula Koh Pho Wat 2
Untuk memilih semula Ganesan Sundaraj 3
Untuk memilih semula Hamdan Rasid 4
Untuk melantik semula Juruaudit Syarikat bagi tahun akan datang 5
Untuk memberi kuasa menerbitkan saham mengikut 6
Seksyen 132D Akta Syarikat, 1965
Untuk meluluskan penukaran nama Syarikat 7
[Sila tandakan “X” dalam ruang yang disediakan di atas bagaimana anda mahu undian anda dibuat. Jika tiada arahan khusus diberi,
proksi anda akan mengundi atau menarik diri menurut budi bicara beliau].
Bertarikh pada...................... hari ini .................................. 2011
[Tandatangan/Meterai Am Ahli
[*Potong jika tidak berkenaan]
Nota:
Seorang ahli Syarikat yang layak hadir dan mengundi di mesyuarat yang dinyatakan di atas, berhak untuk melantik seorang proksi untuk menghadiri dan mengundi bagi
pihaknya. Proksi tersebut boleh tetapi tidak semestinya seorang ahli Syarikat dan Seksyen 149(1)(a) dan (b) Akta Syarikat, 1965 tidak digunapakai. Jika dua (2) orang atau
lebih proksi dilantik, ahli yang melantik mereka hendaklah menyatakan bahagian pegangan sahamnya yang akan diwakili oleh setiap proksi.
Jika seorang ahli Syarikat merupakan nomini yang diberi kuasa sebagaimana ditakrif di bawah Akta Industri Sekuriti (Depositori Pusat), 1991, beliau boleh melantik sekurang-
kurangnya satu (1) orang proksi bagi setiap akaun sekuriti yang dipegangnya dengan saham biasa Syarikat yang berada dalam kedudukan kredit bagi akaun sekuriti tersebut.
Surat cara pelantikan seorang proksi hendaklah dalam bentuk tulisan (dalam bentuk am atau biasa) dengan ditandatangani oleh pelantik atau peguam beliau yang telah diberi
kuasa sewajarnya dalam tulisan atau, jika pelantik adalah sebuah perbadanan, sama ada di bawah meterai atau di bawah tandatangan pegawai atau peguam yang telah
diberi kuasa sewajarnya.
Surat cara pelantikan seorang proksi dan kuasa peguam atau kuasa lain, jika ada, yang telah ditandatangani atau satu salinan kuasa atau autoriti yang disahkan hendaklah
dihantar di Level 17, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur tidak lewat dari empat puluh lapan (48) jam sebelum masa
ditetapkan untuk mesyuarat diadakan atau sebarang penangguhannya.
Lipat Di Sini
SETEM

d/a Tricor Investors Services Sdn Bhd
Aras 17 The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Lipat Di Sini
Dolphins are intelligent and social mammals.
They sleep by resting one half of the brain at a
time such that one eye is always alert.
Lumba-lumba adalah mamalia yang
cerdas, jinak dan gemar bergaul.
Haiwan ini tidur dengan merehatkan
sebelah otaknya supaya sebelah
matanya sentiasa berjaga.
www.petra.com.my
PETRA PERDANA BERHAD 372113-A

6-8, Jalan 3/3C, Batu 7, Jalan Ipoh
68100 Kuala Lumpur.
Tel : + 603 6257 1111

Fax : + 603 6257 7708
E-mail : ppb.corporate@petra.com.my

Perdana Annual Report 2010

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Perdana Annual Report 2010

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PETRA PERDANA BERHAD

Dolphins have been faithful companions of mariners since ancient times.

Sektor perkhidmatan huluan industri minyak dan gas mengalami tempoh

Lumba-lumba terkenal sebagai rakan setia pelaut sejak

Menjadi Pengendali Marin Luar Pesisir Yang Terkemuka

Shamsul Saad Managing Director/Pengarah Urusan

Dato’ Kho Poh Eng Executive Director/Pengarah Eksekutif

Koh Pho Wat Executive Director/Pengarah Eksekutif

Surya Hidayat Abd Malik Executive Director/Pengarah Eksekutif

Ganesan Sundaraj Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif

Idris Zaidel Independent Non-Executive Director/Pengarah Bebas Bukan Eksekutif

Hamdan Rasid Non-Independent Non-Executive Director/Pengarah Bukan Bebas Bukan Eksekutif

COMPANY SECRETARY REMUNERATION COMMITTEE HEADQUARTERS

Leong Oi Wah Idris Zaidel No. 6-8, Jalan 3/3C, Batu 7

AUDITORS PRINCIPAL BANKERS Adnan Sundra & Low

Tricor Investors Services Sdn Bhd OCBC Bank (Malaysia) Berhad

As we turn a page in our corporate history, we

Menyingkap halaman baru dalam lipatan

Shamsul Saad Koh Pho Wat Surya Hidayat

Board of Managing Director/

sektor minyak dan gas. Dari 1988

Sebelum memegang jawatan sekarang,

Beliau juga merupakan Naib Presiden

Beliau tidak mempunyai sebarang

Directors’ Profile (cont’d)

Surya Hidayat Abd Malik, a Malaysian, He also held several management

Directors’ Profile (cont’d)

Ganesan Sundaraj, a Malaysian, He was attached to an international

A Chartered Accountant by profession, He does not have any family

Directors’ Profile (cont’d)

Directors’ Profile (cont’d)

Farid Khan Kaim Khan

Soon Fook Kian

Teo Swee Hong

Abd Razak Abd Aziz

Captain Jimmy Wong Mun Nyen

Dato’ Kho Poh Eng

Surya Hidayat Abd Malik

Koh Pho Wat

Captain Abu Samah Ahmad

Leong Wai Lian

The poise and agility of the Group as it journeys

Keterampilan dan ketangkasan Kumpulan

PERKHIDMATAN MARIN LUAR • Penginapan atas kapal bagi

• Pengangkutan alatan penggerudian, Perdana Perdana dan Petra Energy

PETRA PERDANA BERHAD

100% Intra Oil Services Berhad 100% Asiaway Sdn Bhd

100% Petra Offshore Ltd 100% Malawi Marine Sdn Bhd

100% Perdana Mercury Ltd

100% Perdana Venus Ltd

100% Perdana Jupiter Ltd

100% Odin Explorer Navigation Ltd

100% Petra Teknik Sdn Bhd

100% Petra Asia Ltd

100% Perdana Neptune Ltd

100% Perdana Pluto Ltd

100% Perdana Saturn Ltd

55% Perdana Nautika Sdn Bhd

55% Petra Marine Australia Pty Ltd

51% Geoseas Technologies Ltd

29.6% Associate Company: Petra Energy Bhd

TURNOVER NET PROFIT

RM’ Million RM’ Million

SHAREHOLDERS’ FUND NET ASSETS PER SHARE