Read WWCable-FinancialStatements-Properties-ShareStats.pdf text version

· Directors' Report

[ 10 ] [ 15 ]

· Statement by Directors · Statutory Declaration

[ 15 ] [ 16 ]

· Auditors' Report to the Members · Balance Sheets

[ 17 ] [ 18 ]

· Profit & Loss Accounts

Financial

· Statement of Changes in Equity · Consolidated Statement of Cash Flows · Statement of Cash Flow · Notes to the Accounts

Statements

[ 19 ] [ 20 ]

[ 21 ]

[ 22 ]

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

9

Directors' Report

DIRECTORS' REPORT

The Directors present their report and the audited accounts of the Group and of the Company for the year ended 31 December 2000.

PRINCIPAL ACTIVITIES

The principal activities of the Company are the manufacturing and trading of all kinds of electrical wires and cables. The principal activity of the subsidiary company is that of investment holding. There have been no significant change in the nature of these activities during the financial year under review.

RESULTS

Group RM'000

Loss after taxation Retained profits brought forward Retained profits for the year Proposed dividend Retained profits carried forward 556 28,404 ________ 27,848 (624) ________ 27,224 ________ ________

Company RM'000

487 29,224 ________ 28,737 (624) ________ 28,113 ________ ________

There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the accounts. In the opinion of the Directors, the results of the operations of the Group and of the Company during the financial year have not been substantially affected by any item, transaction or event of a material and unusual nature.

DIVIDENDS

During the financial year, the Company paid a first and final dividend of 3%, tax exempt, amounting to RM610,980 in respect of the previous financial year. The Directors propose a first and final dividend of 3%, tax exempt, amounting to RM613,290 in respect of the current financial year.

EMPLOYEE SHARE OPTION SCHEME (ESOS)

At the Extraordinary General Meeting of the Company held on 28 April 1999, the shareholders of the Company approved the establishment of an employee share option scheme in respect of shares of the Company. Pursuant to the scheme, which became effective on 16 June 1999, options to subscribe for ordinary shares of RM1 each are granted to eligible employees of the Group including executive directors of any company in the Group. The main features of the scheme are as follows : (a) Not exceeding in total the aggregate of ten (10) per centum of the issued ordinary share capital of the Company at any point of time during the existence of the scheme shall be available under the scheme; (b) Employees including executive directors of any company in the Group who have been confirmed in their employment and who fall within any one of the categories set out in the by-laws of the employee share option scheme, are eligible to participate in the scheme;

10

WONDERFUL WIRE & CA BLE BERHAD (Co. No: 169561-D)

Directors' Report (cont'd)

EMPLOYEE SHARE OPTION SCHEME (ESOS) (cont'd)

(c) The option price shall be not less than the market price at the time the option is granted and which is based on the average of the mean market quotation (calculated as the average of the highest and lowest price transacted) of the ordinary shares of the Company as quoted and stated in the daily Official List issued by the Kuala Lumpur Stock Exchange for the five (5) trading days immediately preceeding the Date of Offer or at the par value of each of the ordinary shares of the Company, whichever is higher; (d) An option granted to a selected employee shall be capable of being exercised by notice in writing to the Company, commencing on the date of acceptance of an Offer and expiring at the end of five (5) years from the date of such Offer or such shorter period as specifically stated in the Offer; and (e) The Option may be exercised in respect of all the Option Shares or in respect of any part of the Option Shares provided always the number of Option Shares shall be in multiples of not less than one thousand (1,000) ordinary shares nor more than the maximum allowable allocation of the five hundred thousand (500,000) ordinary shares for the selected employee. Any partial exercising of the Option shall not preclude the Grantee from exercising the Option as to the balance not yet exercised. During the year, 137,000 share options at an option price of RM4.51 per share were granted to eligible employees. As at 31 December 2000, there were 1,570,000 (1999: 1,984,000) unissued ordinary shares under option granted and accepted pursuant to the employee share option scheme. During the year, 103,000 shares of the Company were cancelled as the optionholders had resigned. The details of options granted to subscribe for shares which were outstanding as at 31 December 2000 are as follows : Exercise Price per share Number of ordinary shares 1,433,000 137,000 __________ 1,570,000 __________ __________

RM2.87 RM4.51

ISSUE OF SHARES

During the financial year, the following issue of shares was made by the Company: Class Ordinary RM1 each Number 448,000 Term of issue Allotment for cash at RM 2.87 per share Purpose of issue Employee Share Option Scheme

(Co. No: 169561-D) WONDER FUL WIRE & CABLE BERHAD

11

Directors' Report (cont'd)

DIRECTORS

The Directors of the Company in office since the date of the last report are: YB Dato Hj Johari Bin Mohamed (Chairman) Tan Yu Tein (Vice Chairman) Tneh Ah Kow (Managing Director) Hsu Chen Yen Ong Choong Siang Tang Chuan Chin Sumio Murasugi Lee Fatt Choy Tan Hwa Chong Nakajima Fumiaki Jamaludin Bin Md Ali Hj Mohd Zahran Bin Mohd Ismail (Appointed on 19.2.2001) (Resigned on 19.2.2001)

In accordance with Article 86 of the Company's Articles of Association, Ong Choong Siang, Sumio Murasugi and Tan Hwa Chong retire by rotation and being eligible, offer themselves for re-election. In accordance with Article 92 of the Company's Articles of Association, Jamaludin Bin Md Ali retires by rotation and being eligible, offers himself for re-election. Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Company is a party, whereby the Directors might acquire benefits by means of the acquisition of shares in, or debentures of the Company or any other body corporate, other than those Directors who are eligible under the Employee Share Option Scheme. The following Directors who held office at the end of the financial year had according to the registers required to be kept under Section 134 of the Companies Act, 1965, an interest in shares in the Company and its related corporation, as stated below :

----Number of Ordinary Shares of RM1 each---As at 1.1.2000 The Company Direct interest Hsu Chen Yen Ong Choong Siang Tneh Ah Kow Tan Yu Tein Tang Chuan Chin Tan Hwa Chong Lee Fatt Choy Deemed interest Hsu Chen Yen Tan Yu Tein Tang Chuan Chin 6,050,000 6,050,000 6,050,000 6,050,000 6,050,000 6,050,000 165,648 48,050 20,750 208,944 155,648 17,600 10,000 20,000 5,000 40,250 20,400 26,000 48,000 30,000 3,000 17,000 185,648 5,050 31,000 208,944 152,648 21,000 36,000 During the year Bought Sold As at 31.12.2000

12

WONDERFUL WIRE & CABLE BERHAD (Co. No: 169561-D)

Directors' Report (cont'd)

Number of options over ordinary shares of RM1 each Balance as at 1.1.2000 The Company Direct interest Hsu Chen Yen Lee Fatt Choy Tan Hwa Chong Tneh Ah Kow 100,000 100,000 100,000 100,000 20,000 20,000 20,000 40,000 80,000 80,000 80,000 60,000 During the year Granted Exercised Balance as at 31.12.2000

Hsu Chen Yen, Tan Yu Tein and Tang Chuan Chin, by virtue of their direct and indirect interest in the Company, are deemed interested in the shares of the subsidiary company to the extent that the Company has an interest. Since the end of the previous financial year, no Director has received or become entitled to receive any benefits, other than those disclosed as Directors' emoluments in the accounts or those entered in the normal course of business, by reason of a contract made by the company or a related corporation with any Director or with a firm of which a Director is a member or with a company in which a Director has a substantial financial interest required to be disclosed under Section 169(8) of the Companies Act, 1965.

OTHER STATUTORY INFORMATION

(a) Before the profit and loss accounts and balance sheets of the Group and of the Company were made out, the Directors took reasonable steps : (i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and had satisfied themselves that all known bad debts had been written off and that adequate provision had been made for doubtful debts; and (ii) to ensure that any current assets which were unlikely to realise their book value as shown in the accounting records in the ordinary course of business have been written down to an amount which they might be expected so to realise. (b) At the date of this report, the Directors are not aware of any circumstances which would render: (i) the amount written off for bad debts or the amount of provision for doubtful debts inadequate to any substantial extent; and (ii) the values attributable to current assets in the accounts of the Group and of the Company misleading or inappropriate. (c) At the date of this report, the Directors are not aware of any circumstances which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or accounts of the Group and of the Company which would render any amount stated in the accounts and consolidated accounts misleading.

(d)

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

13

Directors' Report (cont'd)

(e) As at the date of this report, there does not exist : (i) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year which secures the liabilities of any other person; or (ii) any contingent liability in respect of the Group and of the Company which has arisen since the end of the financial year. (f) In the opinion of the Directors : (i) no contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which will or may affect the ability of the Group or of the Company to meet its obligations as and when they fall due; and (ii) no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial year and the date of this report which is likely to affect substantially the results of the operations of the Group and of the Company for the financial year in which this report is made.

AUDITORS

The auditors, Ernst & Young, have expressed their willingness to continue in office.

On behalf of the Board,

TNEH AH KOW Director Johor Bahru 23 March 2001

HSU CHEN YEN Director

14

WONDERF UL WIRE & CA BLE BERHAD (Co. No: 169561-D)

Statement By Directors

We, Tneh Ah Kow and Hsu Chen Yen, being two of the Directors of WONDERFUL WIRE & CABLE BERHAD, do hereby state that, in the opinion of the Directors, the accounts set out on pages 17 to 31 are drawn up in accordance with approved accounting standards so as to give a true and fair view of : (i) (ii) the state of affairs of the Group and of the Company as at 31 December 2000 and of the results of the Group and of the Company for the year ended on that date; and the cash flows of the Group and of the Company for the year ended 31 December 2000.

On behalf of the Board,

TNEH AH KOW Director Johor Bahru 23 March 2001

HSU CHEN YEN Director

Statutory Declaration

I, Tneh Ah Kow, being the Director primarily responsible for the financial management of WONDERFUL WIRE & CABLE BERHAD, do solemnly and sincerely declare that the accounts set out on pages 17 to 31 are, to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the Statutory Declarations Act, 1960. Subscribed and solemnly declared by the ) abovenamed Tneh Ah Kow at Johor Bahru in ) the State of Johor Darul Ta'zim on 23 March 2001)

TNEH AH KOW

Before me,

Haji Ahmad Bin Haji Samion Commissioner of Oaths Johor

(Co. No: 169561-D) WONDERFUL WIRE & CAB LE BERHA D

15

Auditors' Report To The Members Of

Wonderful Wire & Cable Berhad

We have audited the financial statements set out on pages 17 to 31. These accounts are the responsibility of the Company's Directors. Our responsibility is to express an opinion on these accounts based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require that we plan and perform the audit to obtain reasonable assurance that the accounts are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the accounts. An audit also includes assessing the accounting principles used and significant estimates made by Directors, as well as evaluating the overall accounts presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion : (a) the accounts are properly drawn up in accordance with the provisions of the Companies Act, 1965 and approved accounting standards in Malaysia so as to give a true and fair view of : (i) the state of affairs of the Group and of the Company as at 31 December 2000 and of the results and the cash flows of the Group of the Company for the year then ended; and (ii) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the accounts and consolidated accounts; (b) the accounting and other records and the registers required by the Act to be kept by the Company and its subsidiary company for which we have acted as auditors have been properly kept in accordance with the provisions of the Act.

We are satisfied that the accounts of the subsidiary company that have been consolidated with the Company's accounts are in form and content appropriate and proper for the purposes of the preparation of the consolidated accounts and we have received satisfactory information and explanations required by us for those purposes. The auditors' report on the accounts of the subsidiary company was not subject to any qualification and did not include any comment required to be made under Section 174(3) of the Companies Act, 1965.

Ernst & Young AF : 0039 Public Accountants Johor Bahru 23 March 2001

Wun Mow Sang 1821/12/02 (J) Partner

16

WONDERFUL WIRE & CABLE BERHAD (Co. No: 169561-D)

Balance Sheets

As At 31 December 2000

Group

Note FIXED ASSETS INVESTMENT PROPERTY SUBSIDIARY COMPANY GOODWILL ON CONSOLIDATION CURRENTASSETS Stocks Trade debtors Other debtors Cash and bank balances 7 8 16,868 30,780 1,271 335 ________ 49,254 CURRENT LIABILITIES Trade creditors Other creditors Bank borrowings Taxation Proposed dividend 9 10 1,620 1,364 25,916 29 613 ________ 29,542 NET CURRENTASSETS 19,712 ________ 71,168 ________ ________ SHARE CAPITAL RESERVES SHAREHOLDERS' FUND LONG TERM LIABILITIES Deferred taxation Bank borrowings 13 10 2,704 939 3,643 ________ 71,168 ________ ________ 3,326 2,620 5,946 ________ 73,365 ________ ________ 2,704 939 3,643 ________ 71,229 ________ ________ 3,326 2,620 5,946 ________ 73,357 ________ ________ 11 12 20,443 47,082 ________ 67,525 1,501 1,217 17,188 995 600 ________ 21,501 19,138 ________ 73,365 ________ ________ 19,995 47,424 ________ 67,419 1,620 1,363 25,916 29 613 ________ 29,541 19,707 ________ 71,229 ________ ________ 20,443 47,143 ________ 67,586 1,501 1,215 17,188 995 600 ________ 21,499 19,134 ________ 73,357 ________ ________ 19,995 47,416 ________ 67,411 13,437 25,390 1,509 303 ________ 40,639 16,868 30,780 1,266 334 ________ 49,248 13,437 25,390 1,504 302 ________ 40,633 3 4 5 2000 RM'000 50,782 636 1999 RM'000 53,514 636 -

Company

2000 RM'000 43,443 636 7,443 1999 RM'000 46,148 636 7,439

6

38

77

-

-

The notes on pages 22 to 31 form an integral part of these accounts.

(Co. No: 169561-D) WONDERFUL WIR E & CAB LE BE RHAD

17

Profit And Loss Accounts

For The Year Ended 31 December 2000

Group

Note Turnover Cost of sales Operating profit Other operating income Administrative expenses (Loss)/profit from operations Finance cost (Loss)/profit before taxation Taxation (Loss)/profit after taxation Dividends per share (Loss)/earnings per share Fully diluted (loss)/earnings per share 17 17 15 16 14 2000 RM'000 77,568 ________ ________ 70,484 ________ ________ 7,045 9 (8,049) ________ (995) (1,113) ________ (2,108) 1,552 ________ (556) ________ ________ 3 sen ________ ________ (2.7 sen) ________ ________ (2.6 sen) ________ ________ 1999 RM'000 59,167 ________ ________ 51,085 ________ ________ 8,044 (24) (5,862) ________ 2,158 (933) ________ 1,225 (287) ________ 938 ________ ________ 3 sen ________ ________ 4.7 sen ________ ________ 4.7 sen ________ ________

Company

2000 RM'000 77,568 ________ ________ 70,484 ________ ________ 7,084 9 (8,019) ________ (926) (1,113) ________ (2,039) 1,552 ________ (487) ________ ________ 3 sen ________ ________ 1999 RM'000 59,167 ________ ________ 51,085 ________ ________ 8,082 (24) (5,833) ________ 2,225 (933) ________ 1,292 (287) ________ 1,005 ________ ________ 3 sen ________ ________

The notes on pages 22 to 31 form an integral part of these accounts.

18

WONDERFUL WIR E & CABLE BE RHAD (Co. No: 169561-D)

Statement Of Changes In Equity

For The Year Ended 31 December 2000

Share Capital RM Group As at 1 January 1999 Net profit for the year Dividend 3% (Note 18) As at 31 December 1999 Net loss for the year Dividend (Note 18) Exercise of options under ESOS As at 31 December 2000 448 20,443 838 9,426 10,432 19,995 8,588 10,432 19,995 8,588 10,432 28,066 938 (600) 28,404 (556) (624) 27,224 67,081 938 (600) 67,419 (556) (624) 1,286 67,525 Share Premium RM Revaluation Profit and Reserve Loss Account RM RM

Total RM

Company As at 1 January 1999 Net profit for the year Dividend 3% (Note 18) As at 31 December 1999 Net loss for the year Dividend (Note 18) Exercise of options under ESOS As at 31 December 2000 448 20,443 838 9,426 9,604 19,995 8,588 9,604 19,995 8,588 9,604 28,819 1,005 (600) 29,224 (487) (624) 28,113 67,006 1,005 (600) 67,411 (487) (624) 1,286 67,586

The notes on pages 22 to 31 form an integral part of these accounts.

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHA D

19

Consolidated Statement of Cash Flows

For The Year Ended 31 December 2000

2000 RM'000 CASH FLOWS FROM OPERATING ACTIVITIES (Loss)/profit before taxation Adjustments for : Amortisation of goodwill Depreciation of fixed assets Dividend under provided Doubtful debts written off Doubtful debts written back Fixed assets written off Provision for doubtful debts Unrealised exchange gain Interest income Interest expense Operating profit before working capital changes Increase in stocks Increase in debtors Increase/(decrease) in creditors Cash used in operations Interest paid Taxation paid Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed assets Proceed from disposal of fixed assets Purchase of investment property Interest received Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Dividend paid Proceeds from exercise of options under ESOS Payment of lease and hire purchase liabilities Payment of term loan Proceeds from/(payment) of bank borrowings Proceed from long term borrowings Net cash from financing activities NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR (NOTE 19) (611) 1,286 (19) (1,590) 6,350 ________ 5,416

________

1999 RM'000

(2,108) 38 3,404 11 231 (304) 7 1,551 (73) (5) 1,113 ________ 3,865 (3,432) (6,556) 286 ________ (5,837) (1,113) (47) ________ (6,997) ________ (689) 9 5 ________ (675) ________

1,225 38 3,301 64 (606) 8 (89) (9) 933 ________ 4,865 (4,106) (1,711) (2,725) ________ (3,677) (933) (10) ________ (4,620) ________ (211) (636) 9 ________ (838) ________

(600) (219) (1,724) (500) 9,801 ________ 6,758

________

(2,256) (703) ________ (2,959) ________ ________

1,300 (2,003) ________ (703) ________ ________

The notes on pages 22 to 31 form an integral part of these accounts.

20

WONDERFUL WIRE & CABLE BERHAD (Co. No: 169561-D)

Statement of Cash Flow

For The Year Ended 31 December 2000

2000 RM'000 CASH FLOWS FROM OPERATING ACTIVITIES (Loss)/profit before taxation Adjustments for : Depreciation of fixed assets Dividend under provided Doubtful debts written off Doubtful debts written back Fixed assets written off Provision for doubtful debts Unrealised exchange gain Interest income Interest expense Operating profit before working capital changes Increase in stocks Increase in debtors Increase/(decrease) in creditors Cash used in operations Interest paid Taxation paid Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed assets Proceed from sales of fixed assets Purchase of investment property Advance to subsidiary company Interest received Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Dividend paid Proceeds from exercise of options under ESOS Payment of lease and hire purchase liabilities Payment of term loan Proceeds from/(payment) of bank borrowings Proceed from long term borrowings Net cash from financing activities NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR (NOTE 19) (611) 1,286 (19) (1,590) 6,350 ________ 5,416

________

1999 RM'000

(2,039)

1,292

3,377 11 231 (304) 7 1,551 (73) (5) 1,113 ________ 3,869 (3,432) (6,556) 285 ________ (5,834) (1,113) (47) ________ (6,994) ________

3,275 64 (606) 8 (89) (9) 933 ________ 5,499 (4,106) (1,711) (2,726) ________ (3,675) (933) (10) ________ (4,618) ________

(689) 9 (4) 5 ________ (679) ________

(211) (636) (2) 9 ________ (840) ________

(600) (219) (1,724) (500) 9,801 ________ 6,758

________

(2,257) (703) ________ (2,960) ________ ________

1,300 (2,003) ________ (703) ________ ________

The notes on pages 22 to 31 form an integral part of these accounts.

(Co. No: 169561-D) WONDER FUL WIRE & CABLE BERHA D

21

Notes To The Accounts 31 December 2000

1. GENERAL

The Company is a public company incorporated in Malaysia under the Companies Act, 1965.

2.

SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Accounting The accounts of the Group and of the Company have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets and investment in subsidiary company, and comply with approved accounting standards issued by the Malaysian Accounting Standards Board. In the previous financial year, the Group applied certain transitional provisions in International Accounting Standard (IAS) No. 16 (Revised), Property, Plant and Equipment, by virtue of which a reporting enterprise which does not adopt a policy of revaluation is allowed to retain revalued amounts on the basis of their previous revaluation (subject to continuity in depreciation policy and the requirement to write an asset down to its recoverable amount). (b) Basis of consolidation The consolidated accounts incorporate the accounts of the Company and its subsidiary company made up to 31 December. The results of the subsidiary company acquired or disposed of during the year are included in the consolidated accounts from the date of acquisition or up to the date of disposal. The difference between the purchase consideration and the fair values of net assets acquired is reflected in the accounts as goodwill arising on consolidation or reserve on consolidation. Goodwill arising on consolidation is capitalised and amortised through the profit and loss account on the straight line method over a period of 10 years, which is estimated by the Directors to be the economic useful life. (c) Fixed Assets and Depreciation Fixed assets are stated at cost or valuation less accumulated depreciation. No amortisation is provided for freehold land and capital work-in-progress. Depreciation on other fixed assets is calculated on the straight line method to write off the cost or valuation of the fixed assets over their estimated useful lives at the following annual rates : Leasehold lands Freehold and leasehold buildings Plant and machineries Other assets 60 years 50 years 16 years 10 years

Subsequent restoration costs, relating to an item of fixed asset that has been recognised, are capitalised only if such costs improve the condition of the asset beyond its originally assessed standard of performance. All other subsequent expenditure are recognised as an expense in the year in which it is incurred. (d) Investment Property Investment property is stated at cost. No depreciation is provided on investment property. (e) Investments Investment in subsidiary company is stated at valuation by the Directors based on the net asset value of the subsidiary company.

22

WONDERFUL WIRE & CABLE BERHAD (Co. No: 169561-D)

Notes To The Accounts - (cont'd)

31 December 2000

Investments are only written down when the Directors are of the opinion that there is a permanent diminution in their value. The Company appraises its investment in subsidiary company periodically at regular intervals of five years. (f) Debtors Known bad debts are written off and specific provision is made for debts which are considered doubtful. (g) Stocks Stocks are stated at the lower of cost and net realisable value after adequate provision has been made for all damaged, obsolete and slow moving stocks. Cost of raw materials are determined on the first-in first out basis and includes the cost of incidentals in bringing the stocks into store, and for manufactured stocks and work-in-progress, it also includes labour and appropriate overheads. (h) Deferred Taxation Deferred taxation is provided on material timing differences using the liability method except where it can be demonstrated with reasonable probability that the tax deferrals will continue in the foreseeable future. (i) Currency Translation Transactions in foreign currencies are recorded in Ringgit Malaysia at rates of exchange approximating those ruling at the transaction dates. Foreign currency monetary assets and liabilities are translated at rates of exchange ruling at the balance sheet date. All exchange gains or losses are included in the profit and loss account. (j) Cash and Cash Equivalents Cash and cash equivalents include cash and bank balances (net of bank overdrafts) that are readily convertible to cash and are subject to an insignificant risk of changes in value.

3.

FIXED ASSETS

GROUP Cost/Valuation At beginning of the year Additions Disposals At end of the year Accumulated Depreciation At beginning of the year Charge for the year Disposals At end of the year 575 343 ________ 918 ________ 10,708 2,388 ________ 13,096 ________ 3,059 673 (48) ________ 3,684 ________ 14,342 3,404 (48) ________ 17,698 ________ 23,486 142 ________ 23,628 ________ 37,337 334 ________ 37,671 ________ 7,033 213 (65) ________ 7,181 ________ 67,856 689 (65) ________ 68,480 ________ Land and buildings RM'000 Plant and machineries RM'000 Other assets RM'000 Total RM'000

(Co. No: 169561-D) WONDER FUL WIRE & CABLE BERHAD

23

Notes To The Accounts - (cont'd)

31 December 2000

3. FIXED ASSETS (cont'd)

Net Book Value At 31.12.2000 At 31.12.1999 22,710 ________ ________ 22,911 ________ ________ 24,575 ________ ________ 26,629 ________ ________ 3,497 ________ ________ 3,974 ________ ________ 50,782 ________ ________ 53,514 ________ ________

The net book value of land and buildings of the Group is analysed as follows: 2000 RM'000 Freehold land and buildings Leasehold land and buildings 9,465 13,245 ________ 22,710 ________ ________ Land and buildings RM'000 Analysis of cost and valuation : At 31.12.2000 Cost At deemed cost (or valuation) - 31 December 1997 23,189 ________ 23,628 ________ ________ At 31.12.1999 Cost At deemed cost (or valuation) - 31 December 1997 23,189 ________ 23,486 ________ ________ COMPANY Cost/Valuation At beginning of the year Additions Disposals At end of the year Accumulated Depreciation At beginning of the year Charge for the year Disposals At end of the year 520 316 ________ 836 ________ 10,609 2,389 ________ 12,998 ________ 3,048 672 (48) ________ 3,672 ________ 14,177 3,377 (48) ________ 17,506 ________ 16,067 142 ________ 16,209 ________ 37,236 334 ________ 37,570 ________ 7,022 213 (65) ________ 7,170 ________ 60,325 689 (65) ________ 60,949 ________ 2,561 ________ 37,337 ________ ________ ________ 7,033 ________ ________ 25,750 ________ 67,856 ________ ________ 297 34,776 7,033 42,106 2,561 ________ 37,671 ________ ________ ________ 7,181 ________ ________ 25,750 ________ 68,480 ________ ________ 439 35,110 7,181 42,730 Plant and machineries RM'000 Other assets RM'000 1999 RM'000 9,540 13,371 ________ 22,911 ________ ________

Total RM'000

24

WONDERFUL WIRE & CA BLE BERHAD (Co. No: 169561-D)

Notes To The Accounts - (cont'd)

31 December 2000

3. FIXED ASSETS (cont'd)

Net Book Value At 31.12.2000 At 31.12.1999 15,373 ________ ________ 15,547 ________ ________ 24,572 ________ ________ 26,627 ________ ________ 3,498 ________ ________ 3,974 ________ ________ 43,443 ________ ________ 46,148 ________ ________

The net book value of land and buildings of the Company is analysed as follows: 2000 RM'000 1999 RM'000

Freehold land and buildings Leasehold land and buildings

2,128 13,245 ________ 15,373 ________ ________ Land and buildings RM'000 Plant and machineries RM'000 Other assets RM'000

2,176 13,371 ________ 15,547 ________ ________

Total RM'000

Analysis of cost and valuation : At 31.12.2000 Cost At deemed cost (or valuation) - 31 December 1997 15,770 ________ 16,209 ________ ________ At 31.12.1999 Cost At deemed cost (or valuation) - 31 December 1997 15,770 ________ 16,067 ________ ________ 2,561 ________ 37,236 ________ ________ ________ 7,022 ________ ________ 18,331 ________ 60,325 ________ ________ 297 34,675 7,022 41,994 2,561 ________ 37,570 ________ ________ ________ 7,170 ________ ________ 18,331 ________ 60,949 ________ ________ 439 35,009 7,170 42,618

The land and buildings and certain plant and machineries of the Group and of the Company were revalued by the Directors on 31 December 1997 based on valuation by external professional valuers using the open market value basis. As allowed by the transitional provisions of IAS 16, issued by the Malaysian Accounting Standards Board, these assets have been stated on the basis of their 1997 valuations. The title deed of the leasehold land of the Company with a net book value of RM3,494,413 (1999 : RM3,486,000) is in the process of being transferred to the name of the Company. Included in fixed assets of the Group are assets costing RM736,081 (1999 : RM197,346) which have been fully depreciated but are still in use. The net book values of other assets for the Group and the Company included motor vehicles being acquired under hire instalment purchase plans, amounting to RMNil (1999 : RM228,329). A motor vehicle of the Group and the Company with net book value of RM240,360 (1999 : RM280,420) is registered in the name of a Director and held in trust.

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

25

Notes To The Accounts - (cont'd)

31 December 2000

4. INVESTMENT PROPERTY

This represents landed property held for investment and is stated at cost.

5.

SUBSIDIARY COMPANY

Company 2000 RM'000 Unquoted shares, at valuation Amount owing by subsidiary company 7,201 242 ________ 7,443 ________ ________ Percentage of equity held 2000 Wonderful Industries Sdn. Bhd. 100% 1999 100% Investment holding Malaysia Principal Activity 1999 RM'000 7,201 238 ________ 7,439 ________ ________ Country of Incorporation

Name

The investment in the subsidiary company was revalued by the Directors based on the net asset value of the subsidiary company as at 31 December 1997. The amount owing by subsidiary company is interest free, unsecured and has no fixed terms of repayment.

6.

GOODWILL ON CONSOLIDATION

Group 2000 RM'000 At cost Accumulated amortisation 385 (347) ________ 38 ________ ________ 1999 RM'000 385 (308) ________ 77 ________ ________

7.

STOCKS

Group and Company 2000 RM'000 Raw materials Work-in-progress Finished goods 9,233 2,365 5,270 ________ 16,868 ________ ________ 1999 RM'000 6,537 2,263 4,637 ________ 13,437 ________ ________

26

WONDERFUL WIRE & CABLE BERH AD (Co. No: 169561-D)

Notes To The Accounts - (cont'd)

31 December 2000

8. TRADE DEBTORS

Group and Company 2000 RM'000 Trade debtors Provision for doubtful debts 32,479 (1,699) ________ 30,780 ________ ________ 1999 RM'000 25,842 (452) ________ 25,390 ________ ________

9.

OTHER CREDITORS

Group

2000 RM'000 Hire purchase creditors Other creditors 1,364 ________ 1,364 ________ ________ The future hire purchase payments are as follows :Group and Company 2000 RM'000 Year ending 31 December 2000 ________ ________ 1999 RM'000 19 ________ ________ 1999 RM'000 19 1,198 ________ 1,217 ________ ________

Company

2000 RM'000 1,363 ________ 1,363 ________ ________ 1999 RM'000 19 1,196 ________ 1,215 ________ ________

10. BANK BORROWINGS

Group and Company 2000 RM'000 Term loans Bank overdrafts Banker's acceptance 2,714 3,294 20,847 ________ 26,855 Portion of term loans repayable after 12 months classified under deferred liabilities (939) ________ 25,916 ________ ________ (2,620) ________ 17,188 ________ ________ 1999 RM'000 4,304 1,006 14,498 ________ 19,808

Term loans are repayable over a period not exceeding 5 years. Interest is charged at 0.75% to 1% (1999 : 0.75% to 1%) above the bank's base lending rate per annum.

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

27

Notes To The Accounts - (cont'd)

31 December 2000

10. BANK BORROWINGS (cont'd)

The bank overdrafts and banker's acceptance are repayable on demand. The bank overdrafts bear interest ranging from 0.5% to 0.85% (1999 : 0.5% to 0.85%) above the bank's base lending rate per annum. Banker's acceptance is charged either interest at 0.5% (1999 : 0.5%) above the banker's cost of fund per annum or acceptance commission at 0.75% (1999 : 0.75%) per annum.

11. SHARE CAPITAL

Group and Company 2000 RM'000 Authorised : Shares of RM1 each 50,000,000 (1999 : 20,000,000) at beginning of year Created during the year :Nil (1999 : 30,000,000) 50,000,000 (1999 : 50,000,000) at end of year Issued and fully paid : Ordinary shares of RM1 each 19,995,999 (1999 : 19,995,000) at beginning of year Issued during the year : 448,000 (1999 : Nil) 20,443,000 (1999 : 19,995,000) at end of year 19,995 448 ________ 20,443 ________ ________ 19,995 ________ 19,995 ________ ________ 50,000 ________ 50,000 ________ ________ 20,000 30,000 ________ 50,000 ________ ________ 1999 RM'000

12. RESERVES

Group

2000 RM'000 Non-distributable Revaluation reserves Share premium Distributable Profit and loss account 27,224 ________ 47,082 ________ ________ 28,404 ________ 47,424 ________ ________ 28,113 ________ 47,143 ________ ________ 29,224 ________ 47,416 ________ ________ 10,432 9,426 ________ 19,858 10,432 8,588 ________ 19,020 9,604 9,426 ________ 19,030 9,604 8,588 ________ 18,192 1999 RM'000

Company

2000 RM'000 1999 RM'000

Based on the estimated tax credit available under Section 108 of the Income Tax Act, 1967 and the balance in the tax exempt account, and subject to agreement with the Inland Revenue Board, approximately RM22,700,000 (1999 - RM22,100,000) of the distributable reserve of the Company is available for distribution by way of dividend without incurring additional tax liability. The movements in the reserves are shown in the statements of changes in equity.

28

WONDERFUL WIRE & CABLE BERH AD (Co. No: 169561-D)

Notes To The Accounts - (cont'd)

31 December 2000

13. DEFERRED TAXATION

Group and Company 2000 RM'000 At beginning of the year Transfer from profit and loss account (Note 16) - current year - prior year At end of the year 3,327 (583) (40) ________ 2,704 ________ ________ 1999 RM'000 3,039 382 (95) ________ 3,326 ________ ________

14. TURNOVER

Turnover of the Group and the Company represent the invoiced value of goods sold less discounts, returns and sales tax.

15. (LOSS)/PROFIT BEFORE TAXATION

Group

2000 RM'000 This is stated after charging : Amortisation of goodwill Audit fees Bad debts written off Depreciation Directors' remuneration - emoluments - fees Fees paid to corporations for services of Directors Fixed assets written off Foreign exchange loss Provision for doubtful debts Interest expense Rental 38 21 231 3,404 574 49 126 4 91 1,551 1,113 18 ________ ________ 38 21 64 3,301 685 49 126 8 45 933 31 ________ ________ 20 231 3,377 574 49 126 4 91 1,551 1,113 18 ________ ________ 20 64 3,275 685 49 126 8 45 933 31 ________ ________ 1999 RM'000

Company

2000 RM'000 1999 RM'000

Group

2000 RM'000 and crediting : Write back of provision for doubtful debts Fixed deposits interest received 304 5 ________ ________ 606 9 ________ ________ 1999 RM'000

Company

2000 RM'000 1999 RM'000

304 5 ________ ________

606 9 ________ ________

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

29

Notes To The Accounts - (cont'd)

31 December 2000

16. TAXATION

Group and Company 2000 RM'000 Malaysian taxation : Current tax Deferred tax (Note 13) 3 (583) ________ (580) Over provision in prior year Current tax Deferred tax (Note 13) (932) (40) ________ (1,552) ________ ________ (95) ________ 287 ________ ________ 382 ________ 382 1999 RM'000

Subject to agreement with the Inland Revenue Board, the Company has unabsorbed capital allowances of RM2,786,000(1999 : RMNil) available for off set against future taxable income.

17. EARNINGS PER SHARE

The calculation of basic earnings per share is based on the Group's loss after taxation of RM556,000 (1999 : Profit after taxation of RM938,000) and the weighted average number of ordinary shares in issue, after adjusting for the number of shares relating to the exercise of the Employee Share Option Scheme, of 20,330,000 (1999 : 19,995,000). The calculation of diluted earnings per share is based on the Group's loss after taxation of RM556,000 (1999 : Profit after taxation of RM938,000) and the enlarged weighted average number of ordinary shares in issue of 20,946,394 (1999 : 20,171,356) on the assumption that the remaining 1,570,000 (1999 : 1,984,000) options were exercised at the date of the issue of the options. The reconciliation of the weighted average number of shares is shown below :Group 2000 Number used in the calculation of basic earnings per share Number under option Number that would have been issued at fair value Number used in the calculation of diluted earnings per share 1999

20,330,140 19,995,000 1,570,000 1,984,000 (953,746) __________ (1,807,644) __________ 20,946,394 20,171,356 __________ __________ __________ __________

18. DIVIDENDS

Group and Company 2000 RM'000 First and final dividend of 3% (1999 : 3%) tax exempt Under provision for prior year due to options exercised 613 11 ________ 624 ________ ________ 1999 RM'000 600 ________ 600 ________ ________

30

WONDERFUL WIR E & CABLE BE RHAD (Co. No: 169561-D)

Notes To The Accounts - (cont'd)

31 December 2000

19. CASH AND CASH EQUIVALENTS

Cash and cash equivalents included in the statement of cash flows comprise the following balance sheet amounts:

Group

2000 RM'000 Cash at bank and in hand Bank overdrafts 335 (3,294) ________ (2,959) ________ ________ 1999 RM'000 303 (1,006) ________ (703) ________ ________

Company

2000 RM'000 334 (3,294) ________ (2,960) ________ ________ 1999 RM'000 303 (1,006) ________ (703) ________ ________

20. SEGMENTAL REPORTING

There is no disclosure of segmental information as required by International Accounting Standard No. 14, Reporting Financial Information by Segment, as the Group operates principally within one industry in Malaysia.

21. EMPLOYEE INFORMATION

Group

2000 RM'000 Staff costs 5,851 ________ ________ 1999 RM'000 5,128 ________ ________

Company

2000 RM'000 5,851 ________ ________ 1999 RM'000 5,128 ________ ________

The number of employees of the Group and of the Company at the end of the year were 191 (1999 : 209) respectively.

22. COMPARATIVE FIGURES

The presentation of the accounts for the current year has been changed to adopt the format as prescribed in Malaysian Accounting Standards Board (MASB) Standard No. 1 - Presentation of Financial Statements. Certain comparative figures have been reclassified to conform with this presentation, where necessary.

(Co. No: 169561-D) WONDER FUL WIRE & CABLE BERHA D

31

List Of Properties

Net Book Value as at 31-12-2000 RM'000

Registered owner/ Company Wonderful Wire & Cable Berhad

Location HS(D) 178040, PTD No. 101355, Mukim Plentong, Daerah Johor Bahru. 423, Jalan Tembaga Satu, Pasir Gudang Industrial Estate, Pasir Gudang, Johor Darul Takzim.

Description/ Existing use Land and buildings/ Office and factory

Land/ built up area (sq. ft.) 119,049,48/ 69,608

Age of building (years) 7

Tenure (Year of expiry for leasehold) Leasehold (2051)

5,813

Wonderful Industries Sdn. Bhd. *

HS(D) 223695, PTD No. 52695, Mukim Tebrau, Daerah Johor Bahru. 5, Jalan Firma 2/3, Tebrau 1 Industrial Estate, Johor Bahru, Johor Darul Takzim.

Land and buildings/ Office and 2 factories

130,680,80/ 79,447

9

Freehold

9,466

Wonderful Wire & Cable Berhad

PLO 279, Kawasan Perindustrian Tebrau IV, Johor Bahru, Johor Darul Takzim.

Land and buildings/ Factory

114,867,72/ 22,042

4 1/2

Lease + (2056)

7,431

Wonderful Wire & Cable Berhad + *

14, Jalan Perai Jaya 1, Bandar Perai Jaya, Perai.

Shophouse/ Investment

1300/ 3401

3

Freehold

636

Lease Agreement dated January 20, 1996 entered into between Wonderful Wire & Cable Berhad and Perbadanan Johor: Title to the land is pending issuance from the relevant state authority. Factory A which has a built-up area of 28,846 sq. ft. is owned by Wonderful Industries Sdn. Bhd. whilst Factory B and the office which has a built-up area of 50,601 sq. ft. is owned by Wonderful Wire & Cable Berhad.

32

WONDERFUL WIR E & CABLE BE RHAD (Co. No: 169561-D)

Statement Of Shareholdings

As at 20 March 2001

Authorised capital Issued and fully paid-up capital Class of shares Voting rights : RM50,000,000.00 : RM20,443,000.00 : Ordinary shares of RM1.00 each : One vote per RM1.00 share

ANALYSIS OF SHAREHOLDINGS

Size of shareholdings 1 1,001 5,001 1,000 5,000 Number of Shareholders 938 413 62 83 ____________ 1,496 ____________ ____________ Percentage of Shareholders 62.70 27.61 4.14 5.55 ____________ 100.00 ____________ ____________ Number of Percentage Shares of Shares 933,848 1,158,101 501,550 17,849,501 __________ 4.57 5.67 2.45 87.31 __________

- 10,000

10,001 and above Total

20,443,000 100.00 __________ __________ __________ __________

TOP TWENTY LARGEST SHAREHOLDINGS

No.

1. 2. 3. 4. 5.

Name of Shareholder

WWK Holding Sdn. Bhd. Lembaga Tabung Haji RHB Nominees (Asing) Sdn. Bhd. - Showa Electric Wire & Cable Co. Ltd. Amanah Raya Nominees (Tempatan) Sdn. Bhd. - Amanah Saham Johor Cartaban Nominees (Asing) Sdn. Bhd. - Daiwa Securities SB Capital Markets Co. Ltd. for Showa Electric Wire & Cable Co. Ltd. Permodalan Nasional Berhad HLG Nominee (Tempatan) Sdn Bhd - Johor Ventures Sdn. Bhd. Amanah Raya Nominees (Tempatan) Sdn. Bhd. - Amanah Saham Bank Simpanan Nasional PRB Nominees (Tempatan) Sdn. Bhd. - Rubber Industry Smallholders Development Authority Hsu Chen Yen Tan Yu Tein Chai Yip Ping Tang Chuan Chin HDM Johor Bahru Norminees (Asing) Sdn Bhd - OUB Securities Pte. Ltd. for Chang Yung Ching PJB Pacific Advisory Services Sdn Bhd Cheng, Kang HDM Johor Bahru Nominees (Asing) Sdn Bhd - OUB Securities Pte. Ltd. for Hsiao King Shan Amanah Raya Nominees (Tempatan) Sdn. Bhd. - Amanah Saham Selangor HDM Johor Bahru Nominees (Asing) Sdn. Bhd. - OUB Securities Pte. Ltd. for Tan Yu Tein RHB Nominees (Tempatan) Sdn. Bhd. - RHB Equities Sdn Bhd for Md Noordin B Md Sopiee

No. of Shares Percentage

6,050,000 1,990,000 1,783,199 1,694,000 29.59 9.73 8.72 8.29

6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

1,431,861 1,000,000 700,000 289,000 201,000 185,648 133,077 108,000 101,563 94,189 94,000 91,800 88,050 85,000 75,867

7.00 4.89 3.42 1.41 0.99 0.91 0.65 0.53 0.50 0.46 0.46 0.45 0.43 0.42 0.37

74,000

0.36

(Co. No: 169561-D) WONDERFUL WIRE & CAB LE BERHA D

33

Statement Of Shareholdings

As at 20 March 2001

SUBSTANTIAL SHAREHOLDERS

According to the Register required to be kept under Section 69L of the Companies Act, 1965, the following are the substantial shareholders of the Company:-

Direct

No. Shareholders

1.

Deemed

No. of Shares

-

No. of Shares

Percentage

29.59

Percentage

-

Amanah Raya Nominees (Tempatan) Sdn Bhd 2,068,000* - Amanah Raya Berhad for Amanah Saham Johor 1,694,000 2. Amanah Raya Berhad - Amanah Saham Johor 1,694,000 3. Cartaban Nominees (Asing) Sdn Bhd - Showa Electric Wire & Cable Co. Ltd. 1,431,861 4. Hsu Chen Yen 185,648 5. HLG Nominee (Tempatan) Sdn Bhd 729,000* - Johor Ventures Sdn Bhd 700,000 6. Johor Corporation 585 7. Johor Capital Holdings Sdn Bhd 8. Johor Ventures Sdn. Bhd. 700,000 9. Lembaga Tabung Haji 1,999,000 10. Permodalan Nasional Berhad 1,000,000 11. RHB Nominees (Asing) Sdn. Bhd. 1,789,199* - Showa Electric Wire & Cable Co. Ltd 1,783,199 12. Showa Electric Wire & Cable Co. Ltd 3,215,060 13. Tan Yu Tein 208,944 14. Tang Chuan Chin 152,648 15. WWK Holdings Sdn Bhd 6,050,000 16. Yayasan Pelaburan Bumiputra @ @ @

8.29 7.00 0.91 3.57 0.00 3.42 9.73 4.89 8.75 15.73 1.02 0.75 29.59 -

6,050,000+ 700,000# 700,000# 6,050,000+ 6,050,000+ 1,000,000^

29.59 3.42 3.42 29.59 29.59 4.89

NOTES:

+ # ^ *

@

Deemed to have indirect interest through his shareholding in WWK Holding Sdn. Bhd. by virtue of Section 6Aof the Companies Act, 1965. Deemed to have indirect interest through his shareholding in Johor Ventures Sdn. Bhd. by virtue of Section 6Aof the Companies Act, 1965. Deemed to have indirect interest through his shareholding in Permodalan Nasional Berhad by virtue of Section 6Aof the Companies Act, 1965. Other than disclosed accordingly the rest of the beneficial owners of shares are not holding 2% or more in the issued and paid-up capital of the Company. Held share through his nominee.

DIRECTORS' INTEREST AS AT 21 JANUARY 2001

The Directors' interest in the Company as at 31 December 2000 as shown in the Directors' Report remain unchanged as at

21 January 2001.

34

WONDERFUL WIR E & CABLE BE RHAD (Co. No: 169561-D)

Form of Proxy

WONDERFUL WIRE & CABLE BERHAD

(Incorporated in Malaysia)

(16951-D)

I/We_______________________________________________________________________________________ of_________________________________________________________________________________________ being a member/members of the abovenamed Company, hereby appoint________________________________ of____________________________________________________________________________________ or failing him,____________________________________________________________________________ of______________________________________________________________________________________ as my/our proxy; to vote for me/us and on my/our behalf at the Thirteenth Annual General Meeting of the Company to be held at Room Permata 3, Level 2, Puteri Pan Pacific Hotel, 80000 Johor Bahru, Johor on Thursday, 10 May 2001 at 11.30 a.m. and at any adjournment thereof. My/Our proxy is to vote as indicated below:NO. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. RESOLUTION Adoption of Reports and Accounts Approval of a First and Final Dividend Approval of Directors' Remuneration RE-ELECTION OF DIRECTORS RETIRING BY ROTATION: - Mr Sumio Murasugi - Mr Tan Hwa Chong - Mr Ong Choong Siang TO RE-ELECT DIRECTORS RETIRING UNDER ARTICLE 92 - Encik Jamaludin Bin Md Ali - Encik Mohammad Bin Alwi Re-appointment of Messrs Ernst & Young as Auditors. Authority to Allot Shares - Section 132D FOR AGAINST

Please indicate with a cross (X) in the space whether you wish your votes to be casted for or against the resolution. In the absence of such specific directions, your proxy will vote or abstain as he thinks fit. NO. OF SHARES HELD A witness my hand this_________day of____________2001.

Signature of Members(s)

NOTES:1. A member of the Company entitled to attend and vote at the Meeting is entitled to appoint a proxy or proxies to attend and vote in his stead. Where a holder appoints two or more proxies, he shall specify the proportion of his shareholding to be represented by each proxy. 2. A proxy may but need not be a member of the Company but in accordance with Section 149(1) of the Companies Act, 1965, shall not entitled to appoint a person who is not a member of the Company as his proxy unless that person is an advocate, an approved company auditor or a person approved by the Registrar of Company in a particular case. 3. The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney duly authorised in writing or if such appointer is a corporation under its common seal or under the hand of its attorney. 4. All forms of proxy must be deposited at the Registered Office of the Company, Signet & Co Sdn. Bhd. at Suite 633, 6th Floor, PanGlobal Plaza, Jalan Wong Ah Fook, 80000 Johor Bahru, Johor not less than forty-eight (48) hours before the time appointed for holding the meeting or any adjournment thereof.

(Co. No: 169561-D) WONDERFUL WIRE & CABLE BERHAD

35

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WONDERFUL WIRE & CABLE BERHAD

Suite 633, 6th Floor, PanGlobal Plaza, Jalan Wong Ah Fook, 80000 Johor Bahru, J o h o r, Malaysia.

(169561-D)

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