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STATEMENT OF CHAIRMAN

LAPORAN TAHUNAN 2009 ANNUAL REPORT

On behalf of the Board of Directors of Bintulu Port Holdings Berhad, I am pleased to present the Annual Report and Audited Financial Statements of the Group for the financial year ended 31st December 2009. This is my maiden statement since becoming the Chairman of the Group on 1st November 2009.

TAN SRI DR. WAN ABDUL AzIz BIN WAN ABDULLAH

OVERVIEW

Year 2009 seemed to be a challenging year for the Group as it witnessed the global economic depression resulting from the financial crisis. This had adversely affected the country's economy and the Group indirectly. The Malaysian Government had taken proactive measures to overcome this situation by implementing two (2) Economic Stimulus Packages that had prevented the Malaysian economy from sliding into a deeper recession. Following such proactive measures, the economy had shown signs of recovery, which is evidence by the increase in the Gross Domestic Product (GDP) of -3.9% in the second quarter as compared to -6.2% in the first quarter. As a matter of fact, the growth result for the fourth quarter of 2009 was 4.5%. Although the Malaysian GDP is forecasted to grow steadily, it seems the global economy and trade have yet to show strong signs of recovery and in facing such situation, we have to plan wisely and make appropriate decisions in order to stabilise the financial position of the Group.

FINANCIAL HIGHLIGHTS

The Group will take necessary action to retain its competitiveness and meeting the existing challenges. For the year 2009, the Group's total revenue was RM439.05 million which had decreased by about 2.16% as compared to RM448.77 million in the year 2008. This was mainly due to the decrease in cargo throughput as well as container handled. During the fiscal year ended 31st December 2009, the Group generated Profit Before Tax of RM173.52 million which showed a decreased of about 15.7% from 2008 of RM205.88 million. The Total Shareholder's Fund was not spared from declining where it recorded the sum of RM844.79 million in 2009 as compared to RM881.03 million in 2008.

DIVIDEND

The Group has paid total dividend of RM163.80 million (40.95 sen) for the year 2008. Consistent with the economic slowdown, the Board of Directors is recommending a final single tier dividend of 7.5 sen and special single tier dividend of 7.5 sen per share respectively. With this proposal total dividend for the year under review is RM150.00 million (37.50 sen). Payment will be made on 27th May 2010 subject to the approval of shareholders in the Annual General Meeting.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

CORPORATE GOVERNANCE

As corporate governance played important roles in enhancing shareholders value, the Board had subscribed to guidelines prescribed by Malaysian Code on Corporate Governance to govern its conduct. The Board had at all times committed to accomplish the best practices and uphold high standards of business integrity in all activities undertaken by the Group apart from compliance with relevant statutory requirements. The Board has undertaken all probable measures to ensure that the Group activities are conducted in accordance with the best practices and principles of corporate governance. A detailed Board's Statement pertaining to the Corporate Governance can be found on pages 47 to 56.

PERFORMANCE OF SUBSIDIARIES

As regards the overall performance of the Group, year 2009 showed a slightly sluggish performance due to the world economic slowdown. The performance of the Group subsidiaries in particular the Bintulu Port Sdn. Bhd. (BPSB) has slightly declined. Cargo throughput handled has reduced from 40.47 million tonnes in 2008 to 38.44 million tonnes in 2009. Container handled has also registered a drop of 14.39% from 2008 which was 290,167 TEUS as compared to the container handled in 2009 of 248,390 TEUS. Despite the decrease in the cargo throughput and container handled, vessel calls has increased from 7015 calls in 2008 to 7514 calls for the period under review. This increase was mainly on the non carrying cargo vessel and therefore could not cushion the impact of overall drop. Turnover for the year 2009 was RM421.86 million as compared to RM434.57 million in 2008 whilst the Profit Before Tax in the sum of RM165.97 million as compared to RM195.70 million in the year 2008. Another wholly owned subsidiary of Bintulu Port Holdings Berhad, the Biport Bulkers Sdn. Bhd. (BBSB) however registered an increased in the cargo throughput of 17.86% whereby the cargo throughput handled for 2009 was 1,860,891 metric tonnes as compared to the year 2008 of 1,528,436 metric tonnes. Turnover for 2009 in the sum of RM17.19 million has signified an increased of 21.0% as compared to the previous year of RM14.20 million. However the Profit Before Tax has reduced from RM2.73 million in the year 2008 to RM0.06 million in 2009 as a result of inter company financing costs. Despite a slight decline in the overall performance of the subsidiaries, the Group will make every effort to capitalise its capabilities and advantages so as to remain competitive in the marketplace.

UTILISATION OF PROCEEDS

The Group had diligently carried out the identified projects under Initial Public Offer. For that purpose total utilisation was RM242.25 million instead of original proceeds of RM200 million. The excess of utilisation for the identified projects have been financed by internal generated fund. Detailed utilisation of proceed can be referred to in the Statement on Corporate Governance on page 54 to 55 of this Annual Report.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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STATEMENT OF CHAIRMAN

LAPORAN TAHUNAN 2009 ANNUAL REPORT

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Apart from focusing on business performance and marketing, the Group is also concerned on employees, society as well as the environment where it is operating. Employees of the Group have been trained in their respective areas in an effort to make them competent and reliable in the marketplace. A total of about RM1.08 million was spend on training and other form of capability enhancement and human capitals development in 2009. Generally about 800 staff have benefited from these initiatives. The Group has continuously carried out various initiatives for local community in the form of donations for health and educational improvement programmes as well as other community works and activities. In 2009, the Group has contributed RM0.3 million for its CSR Projects. For the year 2009 the Group has spent RM0.4 million on environmental monitoring, control and protection especially in the port area.

FUTURE OUTLOOK

Currently the Group is focusing on port services as a core business with LNG sector and Non LNG sector contributing 57.85% and 42.15% of cargo throughput respectively. Since the natural gas is depleting in the future the Group has to re-aligned its focus accordingly by reducing dependency on LNG from 78% then to 60% of its total operating revenue in the next five years. Subsequently the dependency will gradually be reduced further in accordance with the then economic environment. In this respect the Group will be focusing on the development of container sector, bulk cargo and palm oil. Several related projects have been identified and had commenced development such as the expansion of container terminal (stacking yard and container freight station), multipurpose terminal and the expansion of bulking facilities. Other than that focus will also be given to oil and gas activities to supplement current business needs. For LNG sector the Group will develop related facilities based on demand. The Group has also been exploring other businesses as an effort to diversify the revenue of the Group in line with the proposed new business plan that will commence in 2011-2015. The above plan will be revisited from time to time depending on the need of the industry and other commercial considerations.

APPRECIATION

On behalf of the Board of Directors, I would like to express my sincere and utmost gratitude to Y. A. Bhg. Tun Dato' Seri Hj. Mohd. Eusoff bin Chin, the former Chairman for his guidance and dedication in contributing towards the Group's performance all this while. Also, I would like to thank the Management and staff for their continued efforts in making the year 2009 a meaningful year despite the economic slowdown and challenging business environment. Last but not least, I would like to thank all our shareholders in particular the Ministry of Finance (Incorporated) being the Preference Shareholder, the PETRONAS, Sarawak State Financial Secretary, Kumpulan Wang Persaraan (Diperbadankan) and stakeholders as well as the Sarawak Government, Government authorities and agencies, customers, the shipping fraternities and the port users for their unwavering support towards the Group. Finally, to all my fellow Directors, thank you for your continued guidance, support and cooperation all this while. Thank you.

TAN SRI DR. WAN ABDUL AZIZ BIN WAN ABDULLAH Chairman Bintulu Port Holdings Berhad

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PENYATA PENGERUSI

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Bagi pihak Lembaga Pengarah Bintulu Port Holdings Berhad, saya dengan sukacitanya membentangkan Laporan Tahunan Kumpulan dan Penyata Kewangan yang telah diaudit bagi tahun kewangan berakhir 31 Disember 2009. Ini adalah merupakan penyata sulung saya semenjak menjadi Pengerusi Kumpulan pada 1 November 2009.

ULASAN DAN PANDANGAN

Tahun 2009 merupakan tahun yang mencabar bagi Kumpulan apabila ia menyaksikan kemerosotan ekonomi akibat krisis kewangan. Keadaan ini telah menjejaskan ekonomi negara dan Kumpulan secara tidak langsungnya. Kerajaan Malaysia telah mengambil langkah proaktif untuk menangani masalah ini dengan melaksanakan dua (2) Pakej Rangsangan Ekonomi yang telah berjaya mengelakkan negara daripada terjerumus ke dalam kemelesetan ekonomi yang lebih teruk. Berikutan langkah-langkah proaktif tersebut, ekonomi negara telah menunjukkan pemulihan di mana Keluaran Dalam Negara Kasar (KDNK) bagi suku kedua telah meningkat dari -3.9% berbanding -6.2% pada suku pertama. Hakikatnya, pertumbuhan pada suku keempat tahun 2009 adalah sebanyak 4.5%. Walaupun KDNK Malaysia dijangka terus tumbuh, kedudukan ekonomi global dan perdagangan masih belum menampakkan tanda-tanda pemulihan yang kukuh dan dalam menangani situasi ini, kita perlu merancang secara bijak dan membuat keputusan yang berpatutan dalam usaha menstabilkan kedudukan kewangan Kumpulan.

PETUNJUK PENTING KEWANGAN

Kumpulan akan bertindak sebaik mungkin dalam mengelakkan daya saingnya dan menghadapi cabaran-cabaran yang ada. Pada tahun 2009, jumlah hasil operasi Kumpulan adalah sebanyak RM439.05 juta di mana telah menurun sebanyak 2.16% berbanding RM448.77 juta dalam tahun 2008. Ini disebabkan penurunan pertanan kargo dan juga kendalian kontena. Dalam tahun fiskal berakhir 31 Disember 2009, Kumpulan telah meraih Keuntungan Sebelum Cukai sebanyak RM173.52 juta yang menunjukkan penurunan sebanyak 15.7% dari tahun 2008 sebanyak RM205.88 juta. Dana Pemegang Saham juga tidak terkecuali dari mengalami penurunan kepada RM844.79 juta dalam tahun 2009 berbanding RM881.03 juta dalam tahun 2008.

DIVIDEN

Kumpulan telah membayar dividen keseluruhan sebanyak RM163.80 juta (40.95 sen) pada tahun 2008. Sejajar dengan kelembapan ekonomi, Lembaga Pengarah mencadangkan pembayaran dividen akhir sistem setingkat sebanyak 7.5 sen dan dividen khas sistem setingkat sebanyak 7.5 sen sesaham masing-masingnya. Dengan cadangan ini, jumlah keseluruhan dividen yang dibayar dalam tahun yang dinilai adalah sebanyak RM150.00 juta (37.50 sen). Bayaran akan dibuat pada 27 Mei 2010 tertakluk kepada kelulusan para Pemegang Saham dalam Mesyuarat Agung Tahunan.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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PENYATA PENGERUSI

LAPORAN TAHUNAN 2009 ANNUAL REPORT

URUSTADBIR KORPORAT

Memandangkan urustadbir korporat memainkan peranan penting dalam meningkatkan nilai pemegang saham, Lembaga Pengarah menerimapakai garispanduan sepertimana digariskan dalam Kod Urustadbir Korporat Malaysia dalam mentadbir perilakunya. Lembaga Pengarah sentiasa komited menyempurnakan amalan yang baik dan berpegang kepada piawaian integriti perniagaan yang tinggi dalam kesemua aktiviti yang dikendalikan oleh Kumpulan selain pematuhan kepada peruntukan statutori yang berkaitan. Lembaga Pengarah telah mengambil langkah-langkah perlu bagi memastikan aktiviti Kumpulan dilakukan mengikut prinsip-prinsip dan amalan urustadbir korporat yang baik. Butiran lanjut penyata Lembaga Pengarah ke atas Urustadbir Korporat boleh diperolehi di mukasurat 57 hingga 66.

PRESTASI SYARIKAT SUBSIDIARI

Prestasi keseluruhan Kumpulan tahun 2009 mengalami sedikit penurunan ekoran kelembapan ekonomi dunia. Prestasi syarikat-syarikat subsidiari khususnya Bintulu Port Sdn. Bhd. (BPSB) telah menurun sedikit. Pertanan kargo yang dikendalikan telah berkurangan dari 40.47 juta tan dalam tahun 2008 kepada 38.44 juta tan dalam tahun 2009. Kendalian kontena juga telah mencatatkan penurunan sebanyak 14.39% iaitu dari 290,167 TEUs dalam tahun 2008 kepada 248,390 TEUs dalam tahun 2009. Disebalik penurunan kendalian kargo dan kontena, singgahan kapal ke Pelabuhan Bintulu telah mencatat peningkatan dari 7015 buah dalam tahun 2008 kepada 7514 buah pada tahun yang dinilai. Peningkatan ini berpunca dari kedatangan kapal-kapal bukan kargo dan tidak dapat memberi kesan dalam menahan penurunan keseluruhan. Perolehan hasil bagi tahun kewangan 2009 adalah sebanyak RM421.86 juta berbanding RM434.57 juta dalam tahun 2008 manakala Keuntungan Sebelum Cukai berjumlah RM165.97 juta berbanding RM195.70 juta dalam tahun 2008. Sebuah lagi syarikat subsidiari yang dimiliki sepenuhnya oleh Bintulu Port Holdings Berhad iaitu Biport Bulkers Sdn. Bhd. (BBSB) bagaimanapun telah mencatakan peningkatan dalam pertanan kargo sebanyak 17.86% di mana kendalian kargo bagi tahun 2009 adalah 1,860,891 metrik tan berbanding tahun 2008 sebanyak 1,528,436 metrik tan. Perolehan hasil bagi tahun 2009 sebanyak RM17.19 juta telah menunjukkan peningkatan sebanyak 21.0% berbanding tahun sebelumnya sebanyak RM14.20 juta. Walau bagaimanapun, Keuntungan Sebelum Cukai telah berkurangan dari RM2.73 juta dalam tahun 2008 kepada RM0.06 juta dalam tahun 2009 hasil dari kos pembiayaan antara syarikat. Disebalik penurunan keseluruhan prestasi syarikat subsidiarinya, Kumpulan akan terus berusaha meningkatkan lagi keupayaannya dan peluang yang ada dalam usaha untuk kekal bersaing dalam pasaran.

PENGGUNAAN DANA TERBITAN AWAM AWAL

Kumpulan telah melaksanakan projek-projek yang telah diluluskan dari Dana Terbitan Awam Awal. Bagi tujuan tersebut, jumlah keseluruhan penggunaan adalah sebanyak RM242.25 juta berbanding dana asal sebanyak RM200 juta. Lebihan penggunaan kos bagi projek tersebut dibiayai melalui dana dalaman. Butiran lanjut berkaitan status penggunaan Dana Terbitan Awam Awal boleh dirujuk dalam Penyata Berkaitan Urustadbir Korporat pada mukasurat 64 sehingga 65 pada Laporan Tahunan ini.

TANGGUNGJAWAB SOSIAL KORPORAT

Selain menumpukan kepada prestasi perniagaan dan pemasaran, Kumpulan juga prihatin terhadap pekerjanya, masyarakat, dan juga alam sekitar di mana ianya beroperasi. Pekerja-pekerja Kumpulan telah dilatih dalam bidang-bidang masing-masing dalam usaha menjadikan mereka cekap dan berguna di pasaran. Dalam tahun 2009, sejumlah RM1.08 juta telah dibelanjakan untuk latihan dan lain-lain bentuk peningkatan keupayaan dan pembangunan modal insan. Secara umumnya, seramai 800 kakitangan telah mendapat faedah dari initiatif ini. Kumpulan juga telah meneruskan pelbagai initiatif untuk masyarakat tempatan dalam bentuk sumbangan kepada program pembangunan pendidikan dan kesihatan serta lain-lain kerja amal dan aktiviti kemasyarakatan. Dalam tahun 2009, Kumpulan telah menyumbang sebanyak RM0.3 juta bagi projek sosial korporatnya. Bagi tahun 2009, Kumpulan telah membelanjakan sebanyak RM0.4 juta untuk pemantauan, penjagaan dan perlindungan alam sekitar khususnya di kawasan pelabuhan.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

PROSPEK MASA DEPAN

Kini, Kumpulan menumpukan kepada perkhidmatan pelabuhan sebagai perniagaan utamanya dengan sektor LNG dan bukan LNG masing-masing menyumbang sebanyak 57.85% dan 42.15% dari jumlah pertanan kargo. Memandangkan gas asli akan berkurangan di masa hadapan, Kumpulan perlu menyelaras fokus sewajarnya dengan mengurangkan penggantungan kepada LNG dari 78% kepada 60% dari jumlah hasil operasinya dalam tempoh lima tahun. Kemudiannya, penggantungan ini akan berkurangan lagi sejajar dengan keadaan ekonomi pada masa itu. Dalam hal ini, Kumpulan akan memberi fokus kepada pembangunan sektor kontena, kargo pukal dan minyak sawit. Beberapa projek-projek yang berkaitan telah dikenalpasti dan telah mula dibangunkan seperti pembesaran terminal kontena (stacking yard dan container freight station), terminal pelbagai guna dan pembesaran fasiliti bulking. Selain itu, fokus akan diberi kepada aktiviti minyak dan gas untuk melengkapi keperluan perniagaan sekarang. Bagi sektor LNG, Kumpulan akan membangunkan fasilitinya berdasarkan keperluan. Kumpulan juga telah meneliti beberapa perniagaan lain sebagai usaha untuk mempelbagaikan hasil Kumpulan selaras dengan cadangan pelan perniagaan baru yang akan bermula dalam tahun 2011-2015.

PENGHARGAAN

Bagi pihak Lembaga Pengarah, saya dengan tulus ikhlas merakamkan ucapan penghargaan kepada Y. A. Bhg. Tun Dato' Seri Hj. Mohd. Eusoff bin Chin, mantan Pengerusi atas panduan, dedikasi dan sumbangan beliau kepada prestasi Kumpulan selama ini. Saya juga ingin mengucapkan terima kasih kepada Pengurusan dan staf atas sokongan yang berterusan dalam menjadikan tahun 2009 sebagai tahun yang bermakna di sebalik kegawatan ekonomi dan persekitaran perniagaan yang mencabar. Akhirnya dan tidak terkecuali, saya juga mengucapkan terima kasih kepada para pemegang saham kami khususnya Menteri Kewangan (Diperbadankan) selaku Pemegang Saham Khas, PETRONAS, Pejabat Kewangan Negeri Sarawak, Kumpulan Wang Persaraan (Diperbadankan), stakeholders, Kerajaan Negeri Sarawak serta badan-badan Kerajaan, semua pelanggan kami, rakan perkapalan dan pengguna pelabuhan atas sokongan padu kepada Kumpulan. Akhir sekali, kepada semua Pengarah, terima kasih atas panduan yang berterusan, sokongan dan kerjasama selama ini. Terima kasih.

TAN SRI DR. WAN ABDUL AZIZ BIN WAN ABDULLAH Pengerusi Bintulu Port Holdings Berhad

BINTULU PORT HOLDINGS BERHAD (380802-T)

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STATEMENT OF CHIEF ExECUTIvE OFFICER

LAPORAN TAHUNAN 2009 ANNUAL REPORT

I believe by way of our best effort and excellent strategies will optimize our ability to become A World Class LNG Port and the Port of BIMP-EAGA. MIOR AHMAD BAITI BIN MIOR LUB AHMAD

Year 2009 had been a challenging year where the economic slowdown had adversely affected the cargo throughput of the Group. Just like any other ports in the world, Bintulu Port's growth is reliant on the revival of the trade volumes in Malaysia which is dependable on the global trade activities.

FINANCIAL PERFORMANCE

The Group recorded total operating revenue of RM439.05 million for the year 2009 a decrease of 2.16% as compared to RM448.77 million in the year 2008. This was mainly contributed by the downfall of the cargo throughput where revenue decreased from the handling of LNG, petrolum products, LPG, general cargo, container and dry bulk cargo like fertilizer and silica sand. The non-operating revenue of the Group is RM17.56 million as compared to RM21.22 million in 2008. Profit Before Tax is RM173.52 million as compared to RM205.88 million in 2008 while Profit After Tax is RM128.97 miliion as compared to RM150.61 million in 2008.

OPERATIONAL PERFORMANCE

Our cargo statistics illustrated that while worldwide economic difficulties have had a significant effect on the global trade, our Port has demonstrated a reasonable stability and resiliency during this period. For 2009 as a whole, the Group registered a decrease of 5% in the total cargo throughput from 40.47 million tonnes in 2008 to 38.44 million tonnes in 2009. Total break bulk cargo decreased by 14%, dry bulk cargo decreased by 9% while the major liquid bulk cargo decreased by 3% from 30.98 million tonnes in 2008 to 30.02 million tonnes in 2009. Container volume registered a drop of 14.39% from 290,167 TEUs in 2008 to 248,390 TEUs in 2009. Despite the downfall in the cargo throughput and container handled, vessel calls to Bintulu Port registered an increased in number to 7514 calls as compared to 7015 calls in 2008, mainly from the activities of offshore supply vessels.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Another wholly owned subsidiary of Bintulu Port Holdings Berhad, the Biport Bulkers Sdn. Bhd. (BBSB) however registered an increase in the cargo throughput of 21.8% whereby the cargo throughput for 2009 was 1,860,891 metric tonnes as compared to 1,528,436 metric tonnes in 2008. This increase is mainly due to the full utilisation of the bulking facilities by the two (2) major refineries in particular the Bintulu Edible Oils Sdn. Bhd. and Kirana Palm Oil Refinery Sdn. Bhd.

PORT SAFETY

We always put safety as our top priority and had in placed the safety policy to be abided by all our port users, staff, clients and customers. Being a Port certified with International Ship and Port Facility Security (ISPS), we will never compromise on the safety aspect of the Port. In ensuring compliance to the code, the Group has enhanced its standard operating procedures, improves documentation system and developed training and security drills for its safety personnel, employees and port users. Our safety officers conducted regular safety audit on vessels, port facilities and infrastructures, operational practices, and environment. Over and above the safety audit, constant safety trainings and briefings are also being conducted so that all parties entering the Port are well versed with the safety codes and ethics at the Port. The Company also instituted demerit system and emergency response plan to strengthen port safety. Such effort of maintaining safety was proven when the Group through its subsidiary, Bintulu Port Sdn. Bhd. has been conferred with the Malaysian Society of Occupational Safety and Health (MSOSH) Awards for 13 consecutive years and National Safety Award from the British Safety Council, U.K. for 10 consecutive years.

HUMAN CAPITAL

Human capital development is an important aspect to accomplish the Company's objective. Continuous effort has been made to equip our employees with the necessary knowledge, positive values and skills imbued with a culture of high performance in order to become truly versatile that will remain resilient and relevant to meet current and future challenges. The Group has allocated substantial amount of fund for staff development and training programmes and continue to provide financial assistance in the form of scholarship or educational loan to the eligible staff and children of the staff for them to pursue further education.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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STATEMENT OF CHIEF ExECUTIvE OFFICER

LAPORAN TAHUNAN 2009 ANNUAL REPORT

BUSINESS OUTLOOK

Despite the slowdown in economic growth for the year 2009, the Group is currently embarking on a RM220 million expansion programme to boost Bintulu Port's cargo handling capacity. With the completion of the container terminal expansion by the year 2011, the annual throughput capacity is expected to be increased by 250,000 TEUs to 650,000 TEUs. Also under implementation is the expansion of the multipurpose terminal for dry bulk cargo and break bulk cargo and the bulking facilities for palm oil. To gear itself for the rapid development which will take place in the region in particular Sarawak and the hope of Bintulu Port achieving its vision of `A World Class LNG Port and the Port of BIMP-EAGA', Bintulu Port will continue to upgrade and improve its services and facilities. We will continue to develop ways and means to ensure Bintulu Port improves its profitability, productivity and efficiency. Lastly, as we start a new year, we will continue to pursue our vision and strengthen our customer satisfaction while tackling the challenge of achieving new growth.

APPRECIATION

On behalf of the management, I would like to take this opportunity to extend my special appreciation and gratitude to all staff and my fellow management team for their hard work and enthusiasm towards the success of the Company throughout the financial year 2009. I would also like to express our heartfelt appreciation to our former Chairman, Y. A. Bhg. Tun Dato' Seri Hj. Mohd. Eusoff bin Chin for his past guidance, services and many contributions to the development of Bintulu Port over his 6 years tenure as the Chairman and we wish him all the best in his undertakings. At the same time, we warmly welcome Y. Bhg. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah for being appointed the new Chairman of the Group. We look forward to his leadership and to benefit from his wide experience in the professional and corporate world. Lastly, I would also like to express my sincere appreciation to all the Board of Directors for their invaluable advice, guidance and trust in me in steering the Company, to all our customer, shareholders and stakeholders, business associates, suppliers, bankers and Government authorities for their support so far. We look forward to your continuing partnership to propel the Group forward in the future. I believe by way of our best effort and excellent strategies will optimize our ability to become A World Class LNG Port and the Port of BIMP-EAGA. Thank you.

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Chief Executive Officer Bintulu Port Holdings Berhad

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PENYATA KETUA PENGAWAI EKSEKUTIF

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Tahun 2009 adalah merupakan tahun yang mencabar di mana kelembapan ekonomi telah memberi kesan yang mendalam terhadap kendalian kargo Kumpulan. Sepertimana pelabuhan-pelabuhan lain di dunia, pertumbuhan Pelabuhan Bintulu bergantung kepada pemulihan jumlah dagangan di Malaysia yang mana turut juga bergantung kepada jumlah aktiviti dagangan global.

PRESTASI KEWANGAN

Kumpulan mencatatkan jumlah hasil operasi sebanyak RM439.05 juta bagi tahun 2009 yang menunjukkan pengurangan sebanyak 2.16% berbanding RM448.77 juta dalam tahun 2008. Ini adalah berikutan kejatuhan kendalian kargo di mana hasil menurun dari kendalian LNG, produk petroliam, LPG, kargo am, kontena dan kargo pukal kering seperti baja urea dan pasir silika. Walaupun jumlah singgahan kapal telah meningkat, ianya tidak menyumbang ke arah hasil secara terus. Hasil bukan operasi Kumpulan adalah sebanyak RM17.56 juta berbanding RM21.22 juta dalam tahun 2008. Keuntungan Sebelum Cukai adalah sebanyak RM173.52 juta berbanding RM205.88 juta dalam tahun 2008 manakala Keuntungan Selepas Cukai adalah sebanyak RM128.97 juta berbanding RM150.61 juta dalam tahun 2008.

PRESTASI OPERASI

Statistik kargo kami menunjukkan bahawa meskipun keadaan keseluruhan ekonomi dunia mengalami kerumitan dan memberi kesan mendalam kepada dagangan global. Pelabuhan kami telah menunjukkan kestabilan dan ketahanan yang sederhana dalam tempoh tersebut. Bagi tahun 2009 secara keseluruhannya, Kumpulan telah menunjukkan pengurangan sebanyak 5% dalam kendalian kargo dari 40.47 juta tan dalam tahun 2008 kepada 38.44 juta tan dalam tahun 2009. Jumlah kargo pukal telah menurun sebanyak 14%, kargo pukal kering merosot sebanyak 9% manakala kargo pukal cecair utama pula menurun 3% dari 30.98 juta tan dalam tahun 2008 kepada 30.02 juta tan dalam 2009. Jumlah kontena juga menunjukkan pengurangan sebanyak 14.39% dari 290,167 TEUs dalam 2008 kepada 248,390 TEUs dalam 2009. Meskipun terdapat pengurangan dalam kendalian kargo dan kontena, jumlah singgahan kapal ke Pelabuhan Bintulu telah meningkat kepada 7514 buah berbanding 7015 buah dalam tahun 2008, terutama dari aktivitiaktiviti kapal bekalan luar pantai.

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Sebuah lagi syarikat subsidiari yang dimiliki sepenuhnya oleh Bintulu Port Holdings Berhad, Biport Bulkers Sdn. Bhd. (BBSB) bagaimanapun, menunjukkan peningkatan sebanyak 21.8% dimana jumlah kendalian kargo bagi tahun 2009 adalah 1,860,891 metrik tan berbanding 1,528,436 metrik tan dalam tahun 2008. Peningkatan ini terutamanya disebabkan penggunaan sepenuhnya fasiliti-fasiliti bulking yang ada oleh dua (2) kilang penapis utama khususnya Bintulu Edible Oils Sdn. Bhd. dan Kirana Palm Oil Refinery Sdn. Bhd.

KESELAMATAN PELABUHAN

Kami sentiasa memberi keutamaan kepada aspek keselamatan dan kami mempunyai polisi keselamatan yang perlu dipatuhi oleh semua pengguna pelabuhan, staf, klien dan pelanggan. Sebagai Pelabuhan yang diiktiraf dengan sijil International Ship and Port Facility Security (ISPS), kami tidak pernah berkompromi dalam aspek keselamatan di Pelabuhan. Dalam memastikan pematuhan kepada Kod tersebut, Kumpulan telah memantapkan piawaian prosidur operasi, menambahbaik sistem dokumentasi dan membangun latihan keselamatan untuk pegawai keselamatan kami, staf dan pengguna pelabuhan. Pegawai Keselamatan kami sentiasa mengadakan audit keselamatan secara berkala ke atas kapal, fasiliti pelabuhan dan infrastruktur, amalan operasi dan alam sekitar. Selain daripada audit keselamatan, taklimat dan latihan keselamatan yang kerap turut diadakan supaya semua pihak yang memasuki Pelabuhan mempunyai pengetahuan akan kod dan etika keselamatan di Pelabuhan. Syarikat juga turut melaksanakan sistem dimerit dan mengadakan pelan tindakan kecemasan bagi memantapkan lagi tahap keselamatan Pelabuhan. Usaha memastikan tahap keselamatan ini telah terbukti apabila Kumpulan melalui anak syarikatnya, Bintulu Port Sdn. Bhd. telah dianugerahkan Pingat Pertubuhan Keselamatan dan Kesihatan Pekerja, Malaysia (MSOSH) selama 13 tahun berturut-turut dan National Safety Award dari British Safety Council, U.K. selama 10 tahun berturut-turut.

MODAL INSAN

Pembangunan modal insan merupakan aspek penting untuk mencapai objektif Syarikat. Usaha yang berterusan telah dibuat bagi membekalkan staf kami dengan ilmu pengetahuan yang bersesuaian, nilai-nilai positif dan kemahiran yang dipenuhi dengan budaya kerja berprestasi tinggi bagi membolehkan mereka benar-benar berketerampilan dan dapat bertahan serta berupaya melawan segala cabaran semasa dan akan datang. Kumpulan telah menyediakan jumlah peruntukan yang berpatutan bagi pembangunan dan program latihan staf dan turut terus menyediakan bantuan kewangan dalam bentuk biasiswa atau pinjaman pelajaran kepada staf dan anak-anak staf yang layak supaya dapat meneruskan pengajian diperingkat yang lebih tinggi.

GAMBARAN UMUM PERNIAGAAN

Disebalik kelembapan pertumbuhan ekonomi pada tahun 2009, Kumpulan pada masa ini telah memulakan pembangunan pembesaran Pelabuhan Bintulu bagi meningkatkan kapasiti pengendalian kargo dengan kos sebanyak RM220 juta. Dengan penyiapan pembesaran terminal kontena pada tahun 2011 nanti, kapasiti kendalian tahunan dijangka akan meningkat sebanyak 250,000 TEUs kepada 650,000 TEUs. Juga yang sedang dalam perlaksanaan adalah terminal pelbagai guna untuk kargo pukal kering dan kargo pukal serta bulking facilities untuk minyak sawit. Dalam menyesuaikan dengan pembangunan pesat yang akan berlaku di rantau ini khususnya di Sarawak dan harapan Pelabuhan Bintulu mencapai visi menjadi Pelabuhan LNG bertaraf dunia dan Pelabuhan di BIMP EAGA, Pelabuhan Bintulu akan terus menaiktaraf dan meningkatkan perkhidmatan serta fasilitinya. Kami akan terus mencari jalan dan kaedah bagi memastikan Pelabuhan Bintulu dapat mempertingkatkan keuntungan, produktiviti dan kecekapan. Akhir kata, dengan permulaan tahun baru dan dalam usaha mencapai visi, kami akan terus berusaha meningkatkan tahap kepuasan pelanggan sambil menangani cabaran yang ada bagi mencapai pertumbuhan baru.

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PENGHARGAAN

Bagi pihak Pengurusan, saya mengambil kesempatan ini merakamkan ucapan penghargaan istimewa dan terima kasih kepada semua staf dan rakan pengurusan di atas kerja keras dan semangat ke arah kejayaan Syarikat sepanjang tahun kewangan 2009 ini. Saya juga ingin melahirkan penghargaan tulus ikhlas saya kepada mantan Pengerusi, Y. A. Bhg. Tun Dato' Seri Hj. Mohd. Eusoff bin Chin atas panduan, khidmat bakti dan sumbangan beliau dalam pembangunan Pelabuhan Bintulu sepanjang tempoh 6 tahun beliau sebagai Pengerusi dan kami mendoakan kesejahteraan beliau dalam setiap bidang yang diceburinya. Pada masa yang sama, kami mengalualukan Y. Bhg. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah di atas perlantikan beliau sebagai Pengerusi baru Kumpulan. Kami menaruh harapan ke atas kepimpinan beliau dan mendapat faedah dari pengalaman beliau yang luas dalam bidang profesional dan dunia korporat. Akhir kata, saya juga merakamkan ucapan penghargaan ikhlas saya kepada semua ahli Lembaga Pengarah di atas nasihat, panduan dan kepercayaan yang diberi kepada saya menerajui Syarikat, kepada semua pelanggan, pemegang saham dan stakeholders, rakan perniagaan, pembekal, pihak bank dan Pihak Berkuasa Kerajaan atas sokongan mereka selama ini. Kami menaruh harapan untuk mewujudkan hubungan perniagaan yang berterusan bagi mendorong Kumpulan maju kehadapan. Saya percaya dengan usaha kita yang terbaik dan strategi yang berkesan akan mengoptimakan kebolehan kita untuk menjadi Pelabuhan LNG bertaraf dunia dan Pelabuhan di BIMP-EAGA. Terima kasih.

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Ketua Pegawai Eksekutif Bintulu Port Holdings Berhad

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GROUP BOARD OF DIRECTORS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

From left to right; Dari kiri ke kanan; 1. 2. 3. 4. 5. 6. DATUK HASHIM BIN ISMAIL DATUK FONG JOO CHUNG DATO' SERI DR. HJ. ARSHAD BIN HASHIM TAN SRI DATO' SERI HJ. MOHD. ZAHIDI BIN ZAINUDDIN TAN SRI DR. WAN ABDUL AZIZ BIN WAN ABDULLAH TUN DATO' SERI HJ. MOHD. EUSOFF BIN CHIN

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LEMBAGA PENGARAH KUMPULAN

LAPORAN TAHUNAN 2009 ANNUAL REPORT

From left to right; Dari kiri ke kanan; 1. DATO' MOHAMAD NORZA BIN ZAKARIA 2. DATU HJ. ABANG HALMI BIN IKHWAN 3. DATO' SHAMSUL AZHAR BIN ABBAS 4. ENCIK AMIR HAMZAH BIN AZIZAN 5. ENCIK AHMAD NIZAM BIN SALLEH

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· TunDato'SeriHj.Mohd.EusoffbinChinwasappointed as Director cum Chairman of the Bintulu Port Holdings Berhad on 1st November 2003 by the Special Shareholder pursuant to the Article 109A (1) of the Company's Articles of Association. He ceased to be the Director cum Chairman on 31st October 2009. · HewasadmittedasBarrister-at-LawfromLincoln'sInn, London. He had been in the Judicial Services holding various positions until he became the Lord President of Malaysia prior to his retirement in December 2000. · He was a member of Nomination Committee and Remuneration Committee of Bintulu Port Holdings Berhad. · Tun Dato' Seri Hj. Mohd. Eusoff bin Chin is also a Chairman of Alcatel Network Systems (M) Sdn. Bhd. · Fortheyearunderreview,hehasattendedsix(6)Board Meetings, including two (2) Board Meeting by way of circulation and seven (7) Board Committees Meetings.

TUN DATO' SERI HJ. MOHD EUSOFF BIN CHIN Malaysian, aged 74 Warganegara Malaysia, 74 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif

(Director cum Chairman until 31/10/09 Pengarah merangkap Pengerusi sehingga 31/10/09)

· Tun Dato' Seri Hj. Mohd. Eusoff bin Chin telah · Tun Dato' Seri Hj. Mohd. Eusoff bin Chin juga dilantik sebagai Pengarah merangkap Pengerusi adalah Pengerusi syarikat Alcatel Network Bintulu Port Holdings Berhad pada 1 November Systems (M) Sdn. Bhd. 2003 oleh Pemegang Saham Khas selaras dengan Artikel 109A (1), Tataurusan Syarikat. Beliau telah · Bagi tahun yang dinilai, beliau telah menghadiri berhenti sebagai Pengarah merangkap Pengerusi enam (6) Mesyuarat Lembaga Pengarah termasuk pada 31 Oktober 2009. dua (2) Mesyuarat secara edaran dan tujuh (7) Mesyuarat Jawatankuasa Lembaga Pengarah. · BeliautelahditerimamasuksebagaiBarrister-atLaw di Lincoln's Inn, London. Beliau juga telah berkhidmat dalam Perkhidmatan Kehakiman dengan memegang pelbagai jawatan sehingga beliau menjadi Ketua Hakim Negara sebelum bersara pada bulan Disember 2000. · Beliau adalah merupakan ahli Jawatankuasa Penamaan dan Jawatankuasa Ganjaran, Bintulu Port Holdings Berhad.

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·

TanSriDr.WanAbdulAzizbinWanAbdullahwasappointedasDirectorcumChairman of Bintulu Port Holdings Berhad on 1st November 2009 by the Special Shareholder under Article 109A (1) of the Company's Articles of Association. He is a member of the Nomination Committee and Remuneration Committee respectively. HeholdsaBachelorofEconomicwithHonoursfromtheUniversityofMalaya,Kuala Lumpur, Master of Philosophy (Development Studies) from Institute of Development Studies, University of Sussex, Brighton United Kingdom, Doctor of Philosophy (Ph.D) (Business Economic) from the School of Business and Economic Studies, University of Leeds, Leeds United Kingdom, and the Advanced Management Program from Harvard Business School, Harvard University, Boston, Massachusetts, USA. He started his career as Assistant Director of the Economic Planning Unit (EPU) of the Prime Minister's Department in 1975, then up he goes holding various positions including Senior Assistant Director (Macro-Economics), Senior Assistant Director, Human Resource Section, Director of Energy Section, Deputy Director General (Macro) all at the EPU before joining the Ministry of Finance as Deputy Secretary (Economics and International Division) in 2001, then as the Deputy Secretary General of Treasury (Policy) prior to holding his current post as the Secretary General of Treasury, Minister of Finance, Malaysia. TanSriDr.WanAbdulAzizisaChairmanofthePembinaanBLTSdn.Bhd.,Cyberview Sdn. Bhd., Kuala Lumpur International Airport Berhad as well as Chairman for the Petronas and FELDA Audit Committee, Disciplinary Committee of Inland Revenue Board, and Investment Committee of the Kumpulan Wang Persaraan (Diperbadankan). He is a Director of Malaysian Airline System Berhad, MISC Berhad and several other companies including Syarikat Bekalan Air Selangor Sdn. Bhd., Pembinaan PFI Sdn. Bhd., Syarikat Tanah dan Harta Sdn. Bhd., Bank Negara Malaysia, Perbadanan Insurans Deposit Malaysia and University Malaysia Kelantan. UponhisappointmenttotheBoardofBintuluPortHoldingsBerhad,hehasattended one (1) Board Meeting during the year under review.

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TAN SRI DR. WAN ABDUL AZIZ BIN WAN ABDULLAH Malaysian, aged 57 Warganegara Malaysia, 57 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif (Appointed as Director cum Chairman on 01/11/09 Dilantik sebagai Pengarah merangkap Pengerusi pada 01/11/09)

·

TanSriDr.WanAbdulAzizbinWanAbdullahtelahdilantik sebagai Pengarah merangkap Pengerusi Bintulu Port Holdings Berhad pada 1 November 2003 oleh Pemegang Saham Khas di bawah Artikel 109A (1) Tataurusan Syarikat. Beliau adalah merupakan ahli Jawatankuasa Penamaan dan Jawatankuasa Ganjaran masing-masingnya. Beliau memegang Ijazah Sarjana Muda Ekonomi dari Universiti Malaya, Kuala Lumpur, Ijazah Sarjana Falsafah (Pengajian Pembangunan) dari Institute of Development Studies, University of Sussex, Brighton United Kingdom, Doktor Falsafah (Ph.D) (Perniagaan Ekonomi) dari School of Business and Economic Studies, University of Leeds, Leeds United Kingdom, dan Advanced Management Program dari Harvard Business School, Harvard University, Boston, Massachusetts, USA. BeliaumemulakankerjayasebagaiPenolongPengarahdiUnit Perancang Ekonomi (UPE), Jabatan Perdana Menteri dalam tahun 1975, kemudian beliau dinaikkan pangkat dengan memegang pelbagai jawatan termasuk sebagai Penolong Pengarah Kanan (Ekonomi Makro), Penolong Pengarah Kanan di Seksyen Sumber Manusia, Pengarah bagi Seksyen Tenaga, Penolong Ketua Pengarah (Makro), kesemuanya di UPE sebelum beliau menyertai Kementerian Kewangan sebagai Penolong Setiausaha (Bahagian Ekonomi dan Antarabangsa) · ·

pada tahun 2001, kemudian sebagai Penolong Ketua Setiausaha Perbendaharaan (Polisi) sebelum menyandang jawatan sekarang sebagai Ketua Setiausaha Perbendaharaan, Kementerian Kewangan, Malaysia. TanSriDr.WanAbdulAzizbinWanAbdullahmerupakan Pengerusi Pembinaan BLT Sdn. Bhd., Cyberview Sdn. Bhd., Kuala Lumpur International Airport Berhad serta Pengerusi bagi Jawatankuasa Audit, Petronas dan FELDA, Jawatankuasa Tatatertib bagi Lembaga Hasil Dalam Negeri dan Jawatankuasa Pelaburan Kumpulan Wang Persaraan (Diperbadankan). Beliau juga adalah Pengarah bagi syarikat Malaysian Airline System Berhad, MISC Berhad dan beberapa syarikat lain termasuk Syarikat Bekalan Air Selangor Sdn. Bhd., Pembinaan PFI Sdn. Bhd., Syarikat Tanah dan Harta Sdn. Bhd., Bank Negara Malaysia, Perbadanan Insurans Deposit Malaysia and Universiti Malaysia Kelantan. Sebaik dilantik dalam Lembaga Pengarah Bintulu Port Holdings Berhad, beliau telah menghadiri satu (1) Mesyuarat Lembaga Pengarah sepanjang tahun yang dinilai.

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Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin was appointed as Director of Bintulu Port Holdings Berhad on 16th March 2006. He was formerly a member of the Remuneration Committee of the Company and due to re-organisation of the composition of the Board Committees on 28th May 2009, he was appointed as member of the Nomination Committee and retained as member of the Finance and Risk Management Committee. Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin holds the Master of Science Degree in Defence & Strategic Studies from Quaid-i-Azam University, Islamabad, Pakistan. HefirstjoinedtheMalaysianArmyin1966asanOfficerCadetintheRoyal Military College, Sungai Besi and was commissioned as a Second Lieutenant in the Royal Malay Regiment in May 1968. Served in the Malaysian Armed Forces for 39 years. He became the Malaysian Army from 1st January 1998 for one year and later became the Chief Defence Forces Malaysia from 1st January 1999 till 30th April 2005. HeiscurrentlytheChairmanofAffinHoldingsBerhadandholdsseveral directorships in public listed companies including Genting Plantations Berhad (formerly known as Asiatic Development Berhad), Cahya Mata Sarawak Berhad, Genting Malaysia Berhad (formerly known as Resorts World Berhad), Wah Seong Corporation Berhad and Bandar Raya Development Berhad. Hehasattendedalltheseven(7)BoardMeetings,includingtwo(2)Board Meeting by way of circulation and four (4) Board Committee Meetings during the year under review.

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TAN SRI DATO' SERI HJ. MOHD. ZAHIDI BIN ZAINUDDIN Malaysian, aged 62 Warganegara Malaysia, 62 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif

·

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin dilantik sebagai Pengarah Bintulu Port Holdings Berhad pada 16 Mac 2006. Beliau sebelum ini adalah merupakan ahli Jawatankuasa Ganjaran, Syarikat dan berikutan penstrukturan semula komposisi Jawatankuasa Lembaga Pengarah pada 28 Mei 2009, beliau telah dilantik sebagai ahli Jawatankukasa Penamaan dan dikekalkan sebagai ahli Jawatankuasa Kewangan dan Pengurusan Risiko. TanSriDato'SeriHj.Mohd.ZahidibinZainuddinmemiliki Ijazah Sarjana Sains Dalam Bidang Kajian Pertahanan Dan Strategik dari Universiti Quaid-i-Azam, Islamabad, Pakistan. Beliau mula menyertai Angkatan Tentera Malaysia dalam tahun 1966 sebagai Pegawai Kadet, Kolej Tentera Diraja, Sungai Besi dan ditauliahkan sebagai Leftenan Muda, Rejimen Askar Melayu Diraja pada bulan Mei 1968. Berkhidmat dalam Angkatan Tentera Malaysia selama 39 tahun. Beliau menyandang jawatan Panglima Tentera Darat Malaysia dari 1 Januari 1998 selama setahun dan kemudiannya sebagai Panglima Angkatan Tentera Malaysia dari 1 Januari 1999 sehingga 30 April 2005.

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BeliauadalahPengerusiAffinHoldingsBerhaddanmenjadi pengarah beberapa syarikat awam termasuk Genting Plantations Berhad (sebelum ini dikenali sebagai Asiatic Development Berhad), Cahya Mata Sarawak Berhad, Genting Malaysia Berhad (sebelum ini dikenali sebagai Resorts World Berhad), Wah Seong Corporation Berhad dan Bandar Raya Development Berhad. Beliau telah menghadiri tujuh (7) Mesyuarat Lembaga Pengarah termasuk dua (2) Mesyuarat Lembaga Pengarah secara edaran dan empat (4) Mesyuarat Jawatankuasa Lembaga Pengarah sepanjang tahun.

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· ·

Dato'SeriDr.Hj.ArshadbinHashimwasappointedasDirectorofBintulu Port Holdings Berhad on 1st December 2005. He was formerly the Chairman of the Nomination Committee and member of the Audit Committee of Bintulu Port Holdings Berhad. Pursuant to the reorganisation of the Board Committees on 28th May 2009, he was appointed as the Chairman of Audit Committee and member of the Finance and Risk Management Committee. He holds Bachelor of Arts (Hons) in Economic from University Malaya, Diploma in Economic Development from Cambridge University, Master in Economics from Vanderbilt, USA and Doctor of Philosophy (Ph.D) in Extension Education from UPM/NCSU. Heservedforover30yearsintheMalaysianCivilServicestartingasthe Assistant Secretary of the Economic Division in the Ministry of Finance and rising to the position of State Financial Officer of Penang in 1993. Amongst other positions held, was as Director of Bumiputera Participation Division, Prime Minister's Department, Penang, Director General of Tourism Malaysia and Deputy Secretary General (Finance and Development) Ministry of Education. He was the Secretary General at the Ministry of Information from 2001 until 2005. Dato'SeriDr.Hj.ArshadbinHashimisalsoaChairmanofBiportBulkers Sdn. Bhd. (Subsidiary of Bintulu Port Holdings Berhad) and director of NCB Holdings Berhad. He has attended seven (7) Board Meetings, including two (2) Board Meeting by way of circulation and nine (9) Board Committee Meetings during the year under review.

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DATO' SERI DR. HJ. ARSHAD BIN HASHIM Malaysian, aged 61 Warganegara Malaysia, 61 tahun Independent Non-Executive Director Pengarah Bebas Bukan Eksekutif

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Dato'SeriDr.Hj.ArshadbinHashimtelahdilantiksebagai Pengarah Bintulu Port Holdings Berhad pada 1 Disember 2005. BeliausebeluminiadalahmerupakanPengerusi,Jawatankuasa Penamaan dan ahli Jawatankuasa Audit, Bintulu Port Holdings Berhad. Selaras dengan penstrukturan semula Jawatankuasa Lembaga Pengarah pada 28 Mei 2009, beliau telah dilantik sebagai Pengerusi, Jawatankuasa Audit dan ahli Jawatankuasa Kewangan dan Pengurusan Risiko. Beliau memiliki Ijazah Sarjana Muda Sastera (Kepujian) dalam bidang Ekonomi dari Universiti Malaya, Diploma Pembangunan Ekonomi dari Universiti Cambridge, Ijazah Sarjana Ekonomi dari Vanderbilt, USA dan Doktor Falsafah dalam bidang Lanjutan Pendidikan dari UPM/NCSU.

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Beliaumempunyailatarbelakangberkhidmatlebih30tahun dalam Perkhidmatan Awam Malaysia, bermula sebagai seorang Penolong Setiausaha Bahagian Ekonomi, Kementerian Kewangan. Kemudian, beliau terus meningkat ke jawatan Pegawai Kewangan Negeri Pulau Pinang dalam tahun 1993. Antara jawatan yang pernah beliau sandang adalah sebagai Pengarah, Bahagian Penyertaan Bumiputera, Jabatan Perdana Menteri, Pulau Pinang, Ketua Pengarah Tourism Malaysia dan Timbalan Ketua Setiausaha (Kewangan dan Pembangunan) Kementerian Pelajaran. Beliau menyandang jawatan Ketua Setiausaha Penerangan dari tahun 2001 sehingga 2005. Dato'SeriDr.Hj.ArshadbinHashimjugaadalahPengerusi Biport Bulkers Sdn. Bhd. (Syarikat Subsidiari Bintulu Port Holdings Berhad) dan pengarah di NCB Holdings Berhad. Beliau telah menghadiri tujuh (7) Mesyuarat Lembaga Pengarah termasuk dua (2) Mesyuarat Lembaga Pengarah secara edaran dan sembilan (9) Mesyuarat Jawatankuasa Lembaga Pengarah sepanjang tahun.

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· DatukFongJooChungwasappointedasDirectorofBintuluPort Holdings Berhad on 16th September, 2004. · HewasappointedasmemberoftheRemunerationCommittee on 28th May 2009. · Holds a Bachelor degree in Law (LLB) with honors from the University Of Bristol, United Kingdom in 1971 before obtaining Barrister-at-Law from Lincoln's Inn in the same year. · Hebeganhisprofessionalcareerasanadvocateinprivatelegal practice before being appointed as the State Attorney-General, Sarawak in August 1992. His service as State Attornery ­ General ended on 31st December 2007, but he has been retained by the Sarawak Government in an advisory capacity as State Legal Counsel. · DatukFongJooChungisalsotheChairmanofBintuluPortSdn. Bhd. (Subsidiary of Bintulu Port Holdings Berhad) and holds directorship in several public and private limited companies such as Sarawak Energy Berhad (formerly known as Sarawak Enterprise Corporation Berhad), Encorp Berhad, Syarikat SESCO Berhad, and Universal Cables (Sarawak) Sdn. Bhd., Borneo Development Corporation (Sarawak) Sdn. Bhd., Harwood Timber Sdn. Bhd., Permodalan Assar Sdn. Bhd. and others. · Hehasattendedsix(6)BoardMeetings,includingtwo(2)Board Meeting by way of circulation and two (2) Board Committee Meetings during the year under review. DATUK FONG JOO CHUNG Malaysian, aged 60 Warganegara Malaysia, 60 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif · Datuk Fong Joo Chung telah dilantik sebagai · Datuk Fong Joo Chung juga adalah merupakan Pengarah Bintulu Port Holdings Berhad pada 16 Pengerusi, Bintulu Port Sdn. Bhd. (Syarikat September 2004. Subsidiari Bintulu Port Holdings Berhad) dan turut menjadi Pengarah syarikat awam dan · Beliau telah dilantik sebagai ahli Jawatankuasa sendirian berhad seperti Sarawak Energy Berhad Ganjaran pada 28 Mei 2009. (dikenali sebagai Sarawak Enterprise Corporation Berhad), Encorp Berhad, Syarikat SESCO Berhad, · Memiliki Ijazah Sarjana Muda Undang-Undang Universal Cables (Sarawak) Sdn. Bhd., Borneo (LLB) dengan kepujian dari Universiti Bristol, Development Corporation (Sarawak) Sdn. Bhd., United Kingdom pada tahun 1971 sebelum Harwood Timber Sdn. Bhd., Permodalan Assar memperolehi Barrister-at-Law dari Lincoln's Inn Sdn. Bhd. dan lain-lain. dalam tahun yang sama. · Beliau telah menghadiri enam (6) Mesyuarat · Beliau memulakan karier profesionalnya sebagai Lembaga Pengarah termasuk dua (2) Mesyuarat peguam di firma guaman sebelum dilantik sebagai Lembaga Pengarah secara edaran dan dua (2) Peguam Besar Negeri Sarawak pada bulan Ogos Mesyuarat Jawatankuasa Lembaga Pengarah 1992. Perkhidmatan beliau sebagai Peguam Besar sepanjang tahun. Negeri Sarawak berakhir pada 31 Disember 2007 tetapi beliau telah kekal bertugas dengan Kerajaan Sarawak sebagai Penasihat Perundangan Negeri.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

· DatukHashimbinIsmailwasappointedasDirectorof Bintulu Port Holdings Berhad on 1st December 2005. · He is the Chairman of Remuneration Committee and was appointed as member of Audit Committee on 28th May 2009. · He Holds a Bachelor of Arts (Hons) from University Malaya. · HestartedworkaSeniorPrivateSecretarytoDeputy Minister of Energy, Telecommunication and Post in 1985, State Assembly of Johor in 1990 and then he was Johor State Exco until 1995. In 2004, he was a Parliamentary Secretary to the Ministry of Finance. · HoldsdirectorshipinBiportBulkersSdn.Bhd.(subsidiary of Bintulu Port Holdings Berhad). · DatukHashimbinIsmailhasattendedseven(7)Board Meetings, including two (2) Board Meeting by way of circulation and seven (7) Board Committee Meetings during the year under review.

DATUK HASHIM BIN ISMAIL Malaysian, aged 64 Warganegara Malaysia, 64 tahun Independent Non-Executive Director Pengarah Bebas Bukan Eksekutif

· Datuk Hashim bin Ismail telah dilantik sebagai · Sebagai Pengarah Biport Bulkers Sdn. Bhd. Pengarah Bintulu Port Holdings Berhad pada 1 (syarikat subsidiari of Bintulu Port Holdings Disember 2005. Berhad). · BeliauadalahmerupakanPengerusi,Jawatankuasa · Beliau telah menghadiri tujuh (7) Mesyuarat Ganjaran dan telah dilantik sebagai ahli Lembaga Pengarah termasuk dua (2) Mesyuarat Jawatankuasa Audit pada 28 Mei 2009. Lembaga Pengarah secara edaran dan tujuh (7) Mesyuarat Jawatankuasa Pengarah sepanjang · Memiliki Ijazah Sarjana Muda Sastera (Kepujian) tahun. dari Universiti Malaya · Beliau memulakan kerjanya sebagai Setiausaha Sulit Kanan, Timbalan Menteri Tenaga, Telekom dan Pos pada tahun 1985, Ahli Dewan Undangan Negeri Johor tahun 1990 dan dilantik sebagai Exco Negeri Johor sehingga tahun 1995. Dalam tahun 2004, beliau menyandang jawatan Setiausaha Parlimen, Kementerian Kewangan Malaysia.

BINTULU PORT HOLDINGS BERHAD (380802-T)

39

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

· Dato'MohamadNorzabinZakariawasappointedasDirectorof Bintulu Port Holdings Berhad on 1st December 2005. · He is a member of the Audit Committee and was fomerly a member of the Finance and Risk Management Committee. · HoldsaBachelorDegreeinCommercemajoringinAccountancy from University of Wollongong, NSW, Australia. Possessed professional qualifications, Chartered Accountant (CA) of Malaysian Institute of Accountants (MIA) and Fellow Certified Practicing Accountant (FCPA) of CPA Australia Ltd. · Dato'MohamadNorzabinZakariawasaSeniorAuditAssistant in Messrs. Arthur Anderson & Co. in 1988 before joining Bank Negara Malaysia as the Executive of Bank Regulation Department, then he became the Senior Executive, Finance and Administration Department, Gas and Petrochemical Development Division, PETRONAS. Later, he became the Group Financial Controller, SPK Sentosa Corporation Berhad before becoming Group Audit Manager, Mun Loong Berhad. He was the Chief Executive Officer of Gabungan Stratejik Sdn. Bhd. from 1998 until 2004. · Also holds several directorships in public and private limited companies including Malay Research & Strategy Foundation (YKSM). · Hehasattendedsix(6)BoardMeetings,includingtwo(2)Board Meeting by way of circulation and eight (8) Board Committee Meetings during the year under review. DATO' MOHAMAD NORZA BIN ZAKARIA Malaysian, aged 43 Warganegara Malaysia, 43 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif · Dato' Mohamad Norza bin Zakaria Dilantik sebagai Pengarah Bintulu Port Holdings Berhad pada 1 Disember 2005. · Beliau adalah merupakan ahli Jawatankuasa Audit dan sebelum ini sebagai ahli Jawatankuasa Kewangan dan Pengurusan Risiko. Jabatan Kewangan dan Pentadbiran, Bahagian Pembangunan Gas dan Petrokimia PETRONAS. Kemudian beliau memegang jawatan Pengawal Kewangan Kumpulan SPK, Sentosa Corporation Berhad sebelum menjadi Pengurus Audit Kumpulan, Mun Loong Berhad. Beliau adalah Ketua Pegawai Eksekutif Gabungan Stratejik Sdn. Bhd.dari tahun 1998 hingga 2004.

· Memiliki Ijazah Sarjana Muda Perniagaan pengkhususan dalam bidang Perakaunan dari · Turut menjadi Pengarah syarikat awam dan Universiti of Wollongong, NSW, Australia. sendirian berhad termasuk Malay Research & Turut memiliki kelayakan professional, Akauntan Strategy Foundation (YKSM). Bertauliah (CA), Institut Akauntan Malaysia (MIA) dan Fellow Certified Practising Accountant · Beliau telah menghadiri enam (6) Mesyuarat (FCPA) dari CPA Australia Ltd. Lembaga Pengarah termasuk dua (2) Mesyuarat Lembaga Pengarah secara edaran dan lapan (8) · Dato' Mohamad Norza bin Zakaria sebelum Mesyuarat Jawatankuasa Lembaga Pengarah pada ini adalah merupakan Penolong Audit Kanan, tahun yang dinilai. Tetuan Arthur Anderson & Co. dalam tahun 1988 sebelum menyertai Bank Negara Malaysia sebagai Eksekutif, Jabatan Pengawalan Bank, kemudian menyandang jawatan Eksekutif Kanan,

40 BINTULU PORT HOLDINGS BERHAD (380802-T)

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

· DatuHj.AbangHalmibinIkhwanwasappointedasDirector of Bintulu Port Holdings Berhad on 4th November 2004. · HewasappointedasChairmanofNominationCommittee on 28th May 2009 and is a member of Finance and Risk Management Committee. · He holds Bachelor of Economics (Hons) from University Malaya and Master of Business Administration, Catholic University of Leuven, Belgium. · DatuHj.AbangHalmibinIkhwanstartedhiscareerasan Administrative Officer of Bank Negara Malaysia in 1972, later served at Sarawak Economic Development Corporation before becoming General Manager of Bintulu Development Authority from 1983 until 1992. Later he was Permanent Secretary to State Ministries from 1992 until 2002. · Currently he holds several directorships in public and private limited companies including Custodev Sdn. Bhd., Ta Ann Plantation Sdn. Bhd., Nursinar Majestic Sdn. Bhd. and Kidurong Properties Sdn. Bhd. · He has attended seven (7) Board Meetings, including two (2) Board Meeting by way of circulation and six (6) Board Committee Meetings during the year under review.

DATU HJ. ABANG HALMI BIN IKHWAN Malaysian, aged 61 Warganegara Malaysia, 61 tahun Independent Non-Executive Director Pengarah Bebas Bukan Eksekutif · DatuHj.AbangHalmibinIkhwandilantiksebagai · MerupakanPengarahbeberapasyarikatawamdan Pengarah Bintulu Port Holdings Berhad pada 4 sendirian berhad termasuk Custodev Sdn. Bhd., November 2004. Ta Ann Plantation Sdn. Bhd., Nursinar Majestic Sdn. Bhd. dan Kidurong Properties Sdn. Bhd. · Beliau telah dilantik sebagai Pengerusi, Jawatankuasa Penamaan pada 28 Mei 2009 · Beliau telah menghadiri tujuh (7) Mesyuarat dan adalah ahli Jawatankuasa Kewangan dan Lembaga Pengarah termasuk dua (2) Mesyuarat Pengurusan Risiko. Lembaga Pengarah secara edaran dan enam (6) Mesyuarat Jawatankuasa Pengarah sepanjang · Beliau memiliki Ijazah Sarjana Muda Ekonomi tahun yang dinilai. (Kepujian) dari Universiti Malaya dan Ijazah Sarjana Pentadbiran Perniagaan, Catholic University, Leuven, Belgium. · Datu Hj. Abang Halmi bin Ikhwan memulakan kariernya sebagai Pegawai Pentadbir di Bank Negara Malaysia pada tahun 1972. Kemudiannya berkhidmat dengan Sarawak Economic Development Corporation sebelum menjadi Pengurus Besar Lembaga Kemajuan Bintulu dari tahun 1983 hingga 1992. Kemudian beliau adalah Setiausaha Tetap di beberapa Kementerian Negeri Sarawak dari tahun 1992 sehingga 2002.

BINTULU PORT HOLDINGS BERHAD (380802-T) 41

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

·

Dato'ShamsulAzharbinAbbaswasappointedasDirectorofBintuluPort Holdings Berhad on 29th July 2004. He was the Chairman of Bintulu Port Sdn. Bhd. prior to his retirement on 28th April 2009. Holds a Bachelor in Political Science from Science University of Malaysia, M.Science in Energy Management from University of Pennsylvania, USA and Technical Diploma in Petroleum Economics from Institute Francaise du Petrole (IPF), France. Dato' Shamsul Azhar bin Abbas is the President/Chief Executive Office of Petroliam Nasional Berhad (PETRONAS). HejoinedPETRONASin1975asanExecutiveTraineeandPresident/Chief Executive Officer of MISC Berhad, a subsidiary of PETRONAS before retiring on 1st January 2009. HeisamemberofPETRONASManagementCommitteeandalsoacommittee member of the London Steamship Owner's Mutual Insurance Association Limited, council member of the American Bureau of Shipping. Also holds other directorship of public and/or private limited companies including Chairman of AET Inc Limited and Malaysia Marine and Heavy Engineering Sdn. Bhd. (formerly known as Malaysia Shipyard and Engineering Sdn. Bhd.), Chairman of Bintulu Port Sdn. Bhd. and Centralised Terminal Sdn. Bhd. He also sits on various Board of PETRONAS subsidiaries and associate companies both in Malaysia and overseas. Hehasattendedtwo(2)BoardMeetings,includingone(1)BoardMeeting by way of circulation and one (1) Board Committee Meeting during the year under review.

·

· ·

·

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DATO' SHAMSUL AZHAR BIN ABBAS Malaysian, aged 56 Warganegara Malaysia, 56 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif

(Director until 28/04/09 Pengarah sehingga 28/04/09)

·

Dato' Shamsul Azhar bin Abbas telah dilantik sebagai Pengarah Bintulu Port Holdings Berhad pada 29 Julai 2004. Beliau menyandang jawatan Pengerusi Bintulu Port Sdn. Bhd. sebelum bersara pada 28 April 2009. Memiliki Ijazah Sarjana Muda Sains Politik dari Universiti Sains Malaysia, Ijazah Sarjana Sains dalam bidang Pengurusan Tenaga dari University of Pennsylvania, USA dan Diploma Teknikal dalam bidang Ekonomi Petroliam dari Institute Francaise du Petrole (IPF), France. Dato'ShamsulAzharbinAbbasadalahmerupakanPresiden/ Ketua Pegawai Eksekutif Petroliam Nasional Berhad (PETRONAS). BeliaumulamenyertaiPETRONASdalamtahun1975sebagai Eksekutif Pelatih dan Presiden/Ketua Pegawai Eksekutif MISC Berhad, syarikat subsidiari PETRONAS sebelum bersara pada 1 Januari 2009. Beliau juga merupakan ahli Jawatankuasa Pengurusan PETRONAS dan ahli jawatankuasa London Steamship Owner's Mutual Insurance Association Limited dan ahli majlis American Bureau of Shipping.

·

·

MenjadiPengarahsyarikatawamdan/atausyarikatsendirian berhad termasuk Pengerusi AET Inc Limited dan Malaysia Marine and Heavy Engineering Sdn. Bhd. (sebelum ini dikenali sebagai Malaysia Shipyard and Engineering Sdn. Bhd.), Pengerusi Bintulu Port Sdn. Bhd. dan Centralised Terminal Sdn. Bhd. Beliau juga menjadi pengarah syarikat-syarikat subsidiari dan bersekutu PETRONAS di Malaysia dan luar negara. Beliautelahmenghadiridua(2)MesyuaratLembagaPengarah termasuk satu (1) Mesyuarat Lembaga Pengarah secara edaran dan satu (1) mesyuarat Jawatankuasa Lembaga Pengarah sepanjang tahun yang dinilai.

·

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·

42

BINTULU PORT HOLDINGS BERHAD (380802-T)

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

·

Amir Hamzah bin Azizan was appointed as Director of Bintulu Port Holdings Berhad on 28th April 2009 and appointed as a member of the Nomination Committee on 28th May 2009. He holds a Bachelor of Science Degree in Management majoring in Finance and Economic from Syracuse University, New York, Stanford Executive Programme at Stanford University, United States of America and Corporate Finance Evening Programme at London Business School, United Kingdom. HeisthePresident/ChiefExecutiveOfficerofMISCBerhad. Prior to joining MISC, he served the Shell Group of Companies for 10 years in various capacities including Head of Financial Services and Manager, Planning & Support at Sarawak Shell Berhad, Marketing Credit Accountant at Shell Singapore Ptd. Ltd., Internal Auditor at Shell Eastern Petroleum Pte. Ltd., and Senior Treasury Advisor at Shell International Ltd. London. Intheyear2000,hejoinedMISCandwastheGroup'sGeneralManagerof Corporate Planning Services. Subsequently in 2004, he was the Regional Business Director (Europe, America, Africa and FSU) of MISC based in London, United Kingdom and was appointed as President/Chief Executive Officer of AET Tanker Holdings Sdn. Bhd., a wholly owned subsidiary of MISC Berhad, on 1st April 2005 and sits on various Boards within AET Group. AmirHamzahbinAzizanisaBoardmemberofUKP&IClub,StarEnergy Group plc and Milford Energy Limited as well as an Executive Committee member of the American Bureau of Shipping. Hehasattendedfour(4)BoardMeetings,includingtwo(2)BoardMeeting by way of circulation and one (1) Board Committee Meetings during the year under review.

·

· ·

·

·

·

AMIR HAMZAH BIN AZIZAN Malaysian, aged 42 Warganegara Malaysia, 42 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif

· Amir Hamzah bin Azizan telah dilantik sebagai Pengarah Bintulu Port Holdings Berhad pada 28th April 2009 dan dilantik sebagai ahli Jawatankuasa Penamaan pada 28 Mei 2009. MemilikiIjazahSarjanaMudaSainsPengurusanPengkhususan dalam bidang Perakaunan dan Ekonomi dari Universiti of Syracuse, New York, menjalani Stanford Executive Programme di Stanford University, Amerika Syarikat dan Corporate Finance Evening Programme di London Business School, United Kingdom. Beliau adalah Presiden/Ketua Pegawai Eksekutif MISC Berhad. Sebelum menyertai MISC, beliau telah berkhidmat dengan Kumpulan Syarikat Shell selama 10 tahun dengan menyandang pelbagai jawatan termasuk Ketua, Perkhidmatan Kewangan dan Pengurus, Perancangan & Sokongan di Sarawak Shell Berhad, Akauntan, Kredit Pemasaran di Shell Singapore Ptd. Ltd., Juruaudit Dalaman di Shell Eastern Petroleum Pte. Ltd., dan Penasihat Kanan, Perbendaharaan di Shell International Ltd. London. · · Dalamtahun2000,beliautelahmenyertaiMISCdanadalah merupakan Pengurus Besar, Kumpulan bagi Perkhidmatan Perancangan Korporat. Setelah itu dalam tahun 2004, beliau adalah Pengarah Wilayah Perniagaan (Europe, America, Africa dan FSU) MISC yang bertapak di London, United Kingdom dan telah dilantik sebagai Presiden/Ketua Pegawai Eksekutif di AET Tanker Holdings Sdn. Bhd., sebuah syarikat yang dimiliki sepenuhnya oleh MISC Berhad, pada 1 April 2005 dan duduk dalam Lembaga Pengarah Kumpulan AET. Amir Hamzah bin Azizan adalah merupakan ahli Lembaga Pengarah UK P&I Club, Star Energy Group dan Milford Energy Limited dan ahli Jawatankuasa Eksekutif Amerika Bureau of Shipping. Beliau telah menghadiri empat (4) Mesyuarat Lembaga Pengarah termasuk dua (2) Mesyuarat Lembaga Pengarah secara edaran dan satu (1) Mesyuarat Jawatankuasa Pengarah sepanjang tahun.

·

·

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BINTULU PORT HOLDINGS BERHAD (380802-T)

43

PROFILE OF DIRECTORS PROFIL PENGARAH-PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

· Ahmad Nizam bin Salleh was appointed Director of Bintulu Port Holdings Berhad on 17th January 2006. · He is the Chairman of Finance & Risk Management Committee and a member of Remuneration Committee. · He holds a Bachelor of Business Administration from Ohio University and had attended AMP, Wharton School from University of Pennsylvania. · He is Vice-President Corporate Services, PETRONAS and a Board Member of various PETRONAS subsidiary Companies which includes among others PETRONAS International Corporation Limited, PETRONAS Hartabina Sdn. Bhd., PETRONAS Asset Sdn. Bhd., Ethylene Malaysia Sdn. Bhd., PETRONAS Methanol (Labuan) Sdn. Bhd., KL Convention Centre Sdn. Bhd., and MISC Berhad. · Hehasattendedsix(6)BoardMeetings,includingtwo(2) Board Meeting by way of circulation and three (3) Board Committee Meetings during the year under review.

AHMAD NIZAM BIN SALLEH Malaysian, aged 54 Warganegara Malaysia, 54 tahun Non-Independent Non-Executive Director Pengarah Bukan Bebas Bukan Eksekutif

· Ahmad Nizam bin Salleh telah dilantik sebagai · Beliau adalah Naib Presiden Perkhidmatan Pengarah Bintulu Port Holdings Berhad pada 17 Korporat, PETRONAS dan Ahli Lembaga Pengarah Januari 2006. beberapa syarikat subisidiari PETRONAS termasuk PETRONAS International Corporation · BeliauadalahPengerusi,JawatankuasaKewangan Limited, PETRONAS Hartabina Sdn. Bhd., & Pengurusan Risiko dan merupakan ahli PETRONAS Asset Sdn. Bhd., Ethylene Malaysia Jawatankuasa Ganjaran. Sdn. Bhd., PETRONAS Methanol (Labuan) Sdn. Bhd., KL Convention Centre Sdn. Bhd., dan MISC · Memiliki Ijazah Sarjana Muda Pentadbiran Berhad. Perniagaan dari Universiti Ohio dan telah menghadiri AMP, Wharton School di Universiti · Beliau telah menghadiri enam (6) Mesyuarat Pennysylvania. Lembaga Pengarah termasuk dua (2) Mesyuarat Lembaga Pengarah secara edaran dan tiga (3) Mesyuarat Jawatankuasa Pengarah sepanjang tahun.

Note: None of the Directors has any family relationship with any Director and/or major shareholder and none of them has any conviction for offences within the past ten (10) years. Nota: Tiada Pengarah yang mempunyai hubungan keluarga dengan mana-mana pengarah dan/atau pemegang saham utama dan tiada Pengarah yang dikenakan sabitan kesalahan dalam tempoh sepuluh (10) tahun.

44

BINTULU PORT HOLDINGS BERHAD (380802-T)

PROFILE OF CHIEF ExECUTIvE OFFICER PROFIL KETUA PEGAWAI EKSEKUTIF

LAPORAN TAHUNAN 2009 ANNUAL REPORT

· Mior Ahmad Baiti holds a Bachelor of Science in Offshore Engineering (Civil) from Heriot-Watt University, Edinburgh, Scotland in 1981. · HewasappointedastheChiefExecutiveOfficerof Bintulu Port Sdn. Bhd. on 1st July 2004 as well as the acting Chief Executive Officer of Bintulu Port Holdings Berhad and Biport Bulkers Sdn. Bhd. respectively. · Started his career as Civil Engineer at Bintulu Port Authority (BPA) in 1981. Then, was promoted as Assistant Manager, Engineering Service Department (Civil) and later as Manager of the same Department in 1993. In 1996, he was appointed as Senior Manager Technical Service Division prior to becoming the Chief Executive Officer.

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Chief Executive Officer Ketua Pegawai Eksekutif Malaysian, aged 53 Warganegara Malaysia, 53 tahun

· Mior Ahmad Baiti memiliki Ijazah Sarjana Sains · MemulakankerjayasebagaiJuruteraAwamdengan dalam Offshore Engineering (Civil) dari HeriotLembaga Pelabuhan Bintulu (LPB) pada tahun Watt University, Edinburgh, Scotland pada tahun 1981. Kemudian telah dinaikkan pangkat sebagai 1981. Penolong Pengurus Perkhidmatan Kejuruteraan (Awam) dan kemudiannya sebagai Pengurus · Beliau telah dilantik sebagai Ketua Pegawai di Jabatan yang sama pada tahun 1993. Dalam Eksekutif Bintulu Port Sdn. Bhd. pada 1 Julai tahun 1996, beliau telah dilantik sebagai Pengurus 2004 dan juga sebagai pemangku Ketua Pegawai Kanan, Perkhidmatan Teknikal sebelum menjadi Eksekutif Bintulu Port Holdings Berhad dan Biport Ketua Pegawai Eksekutif. Bulkers Sdn. Bhd. masing-masingnya.

BINTULU PORT HOLDINGS BERHAD (380802-T)

45

MANAGEMENT OF BINTULU PORT HOLDINGS BERHAD PENGURUSAN BINTULU PORT HOLDINGS BERHAD

LAPORAN TAHUNAN 2009 ANNUAL REPORT

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Chief Executive Officer Ketua Pegawai Eksekutif

RAMBLI BIN MASHAR Senior Manager, Finance Pengurus Kanan, Kewangan

NIK ABD RAHMAN BIN NIK ISMAIL Company Secretary Setiausaha Syarikat

46

BINTULU PORT HOLDINGS BERHAD (380802-T)

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

The Board of Directors of Bintulu Port Holdings Berhad acknowledges the importance of Corporate Governance and continues with its commitment to uphold the highest standard of Corporate Governance practices which are based on the best practices and principles as outlined by the Malaysian Code of Corporate Governance. This Statement on Corporate Governance is made in compliance with Chapter 15, Part E, Paragraph 15.25 of the Main Market Listing Requirements ("Main Market LR") and Part 2 of the Malaysian Code on Corporate Governance ("the Code").

INTRODUCTION

Bintulu Port Holdings Berhad is sustaining high standards of corporate governance in order to safeguard the interests of the shareholders and to enhance the enduring values of the Group. It has adopted the Corporate Governance Guidelines in governing its conduct within the spirit of the Code and the Main Market Listing Requirements. The Board has approved this Statement and is of the opinion that it has in all material aspects, complied with the principles and best practices as outlined in the Code for the financial year ended 31st December 2009.

THE BOARD

Principal Responsibilities of the Board The Board has adopted the following responsibilities in the discharge of its stewardship: i. Reviewing, approving, adopting and monitoring strategic plan for the Company, Company's budget and financial projection, the Management Best Practices including financial and operational practices as well as performance standard. The Board's responsibility with regard to reviewing, approving, adopting and monitoring the Company's strategic plan as well as the budget and financial projection ensures the objectivity and breadth of decisions and thereafter implementation by the Management. They are not involved in the daily management of the business. The Board has reviewed and approved the Company's Strategic Plan and the Company's budget, the Financial Statements, the Quarterly Reports and the performance standard of the Company. ii. Overseeing the conduct of the company's business and to evaluate whether the business is being properly managed. A combination of various backgrounds, specialisations and wide range of experiences as well as capabilities of the members of the Board enable the Board to lead and control the Company effectively. Hence, in undertaking the responsibility of overseeing the conduct of the Company's business, the Board has sets up Key Performance Indicator (KPI) in operational and financial areas which serves as measurement for the management performance. iii. Appointing and fixing the remuneration of the Chief Executive Officer and Senior Management. The Board has delegated this function to the Nomination Committee which is responsible for evaluating and assessing the performance of any potential candidates to the office of the Chief Executive Officer and the Senior Management. Whereas the Remuneration Committee's function is to assess the salary revision, payment of bonuses and other remunerations of the Chief Executive Officer, the Senior Management as well as the general staff. These Committees make necessary recommendations for approval of the Board.

BINTULU PORT HOLDINGS BERHAD (380802-T)

47

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

iv. Identifying principal risks and ensuring the implementation of appropriate systems to manage these risks. Risk management system is considered as an integral part of the business operation and hence is embedded in the Group's system of Internal Control. The Board has delegated the aforesaid function to the Audit Committee and the Finance and Risk Management Committee to monitor and review the system and framework of the Enterprise Risk Management (ERM). v. Developing and implementing an investor relation programme. The Company realizes the importance of sustaining effective communication with its investors and shareholders and does this through: a. b. c. d. e. f. g. Dissemination of information during the Company's Annual General Meetings (AGM); Dialogues with the Shareholders and Investors; Dissemination of information through the Annual Report and bulletins; Release of the Quarterly financial results in a timely manner; Appropriate announcement to the Bursa Malaysia; Periodic press releases; and Posting of information pertaining to the Company's performance in the Company's website at http://www.bintuluport.com.my

vi. Reviewing and overseeing the adequacy of the Company's internal control system to comply with applicable laws, regulation, rules, directives and guideline. The Board had set up various committees with its dedicated functions, roles and responsibilities in order to ensure the adequacy of the Company's internal control system and compliance to the applicable laws, rules and directives prior to implementation of any proposals thereto.

Code of Ethics

The Board of Directors of Bintulu Port Holdings Berhad adhered to the Company Director's Code of Ethics which was established by the Companies Commission of Malaysia. The said Code of Ethics for Directors govern the standards of ethics and good conduct including principles relating to the Directors' duties, the welfare of the employees as well as corporate social responsibility (CSR). The Board exercises fair, just and professional judgment prior to any decision making or any approval of any proposed resolution and matters arising. This is important and significant in order to avoid disorder and power deviation.

The Composition and Balance of the Board

The Group had since privatisation complied with the requirement under Chapter 15, Part B, Para 15.02 ­ Composition of the Board of Directors of the Main Market Listing Requirements which requires one third (1/3) of the composition of the Board to be independent director. For the financial year ended 31st December 2009, the composition of the Board comprises of six (6) Non-Independent Non-Executive Directors and three (3) Independent Non-Executive Directors as follows:

48

BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

The Board of Directors, Bintulu Port Holdings Berhad Tun Dato' Seri Hj. Mohd Eusoff bin Chin

(Chairman cum Director until 30/10/09)

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

(Appointed as Chairman cum Director on 01/11/09)

Chairman / Non-Independent Non-Executive Director Chairman / Non-Independent Non-Executive Director Non-Independent Non-Executive Director Independent Non-Executive Director Non-Independent Non-Executive Director Independent Non-Executive Director Non-Independent Non-Executive Director Independent Non-Executive Director Non-Independent Non-Executive Director Non-Independent Non-Executive Director Non-Independent Non-Executive Director

Tan Sri Dato Seri Hj. Mohd. zahidi bin zainuddin Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Datuk Fong Joo Chung Datuk Hashim bin Ismail Dato' Mohamad Norza bin zakaria Datu Hj. Abang Halmi bin Ikhwan Dato' Shamsul Azhar bin Abbas

(Director until 28/04/09)

Amir Hamzah bin Azizan

(Appointed as Director on 28/04/09)

Ahmad Nizam bin Salleh

All Directors have given declaration, undertaking and confirmation with regards to compliance with the requirements of the Main Market Listing Requirements. The Independent Non-Executive Directors will exercise their independence and unbiased judgement while the Non-Independent Non Executive Directors play their roles accordingly. The Minister of Finance (Incorporated) is the Preference Shareholder while the Petroliam Nasional Berhad (PETRONAS), State Financial Secretary (SFS) and Kumpulan Wang Persaraan (Incorporated) (KWAP) are the major shareholders of the Company. Both the Preference Shareholder and Major Shareholders other than KWAP have their representatives sitting on the Board.

Separation of Powers and Authority

There are separation of powers and authority between the Board and the Management guided by clear separation of functions, roles and responsibilities. In order to ensure that no one individual has unfettered powers of decision in the Company, the position of Chairman and Chief Executive Officer are held by two (2) different persons, the Chairman being the head of the Board and the Chief Executive Officer (CEO) leading the Management. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah is the Chairman of Bintulu Port Holdings Berhad and he is responsible for the orderly conduct and workings of the Board as well as efficient functioning of the Board, while, Mior Ahmad Baiti bin Mior Lub Ahmad being the CEO is responsible in running the Company's daily business and operations. In this respect, the CEO led the Management in implementing the policies and decisions as approved by the Board.

Appointment and Re-Election to the Board

As regards to the appointment and re-election of Directors, Article 132 of the Company's Articles of Association provides authority for the Board to appoint any person who is willing to act as Director to fill up casual vacancy and such person shall retire and eligible for re-election in the next Annual General Meeting (AGM). Further, the re-election of Directors by rotation is governed under Article 127 of the Company's Articles of Association as well as the requirement under Chapter 7, Part J, Para 7.26 of the Main Market

BINTULU PORT HOLDINGS BERHAD (380802-T)

49

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Listing Requirement whereby one third (1/3) of the Directors shall retire by rotation each year and are eligible for re-election. The Nomination Committee is empowered to evaluate the potential candidates for directorship, appointment and re-election of the Board members prior to recommendations to the Board. In assessing the composition of the Board and determining candidates for directorship, a required mix of skills, expertise, knowledge, experiences, attributes and other qualities of the proposed director will be taken into consideration.

Training of the Board

In complying with the requirement of Chapter 15, Part B, Para 15.08 of the Main Market Listing Requirements, the appointed directors had to undergo the Mandatory Accreditation Program (MAP), Continuous Education Program (CEP) and other relevant training programmes identified by the Company from time to time in order to enhance their knowledge so as to enable them to discharge their duties and responsibilities diligently. Further, such trainings form an integral part of orientation and education programmes for the newly appointed Directors and as refresher to the existing Directors so that they are kept abreast with the current development in the business environment, including regulatory updates. For the year ended 31st December 2009, the Board of Bintulu Port Holdings Berhad had undergone the trainings as follows: Board Of Director Training - Mandatory Accreditation Programme (MAP) - Audit Committees' Unique Competency Requirements - A Half-day impact seminar on Practical Aspect in Conducting General Meeting of Public Listed Companies - Company Valuation, Restriction & Funding - International Currency Risk Management Risk Management Seminar - Mandatory Accreditation Programme (MAP)

Tun Dato' Seri Hj. Mohd Eusoff bin Chin

(Chairman cum Director until 30/10/09)

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

(Appointed as Chairman cum Director 01/11/09) on

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin

- Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Understanding Financials Management for Company Directors and Senior Management - Managing Business Turnaround - Managing Going Global Business - Briefing for Financial Instruments; Recognition, Measurement, Presentation And Disclosure. - Audit Committee Role and The Internal Audit Challenges. - Board Effectiveness: Redefining The Roles And Functions Of An Independent Director.

Dato' Seri Dr. Hj. Arshad bin Hashim

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- Risk Management Best Practices. - Directors Duties And Governance Conference 2010 "Towards Boardroom Excellence & Corporate Governance Best Practices" - Forum On "The Challenges Of Implementing FRS 139. - Mandatory Accreditation Programme (MAP) - Kuala Lumpur Stock Exchange Berhad Corporate Governance Conference `Financial Reporting and Alternative Solution to Achieving Better Corporate Governance' - Understanding and Minimizing The Risk of Accounting Manipulations: A Corporate Director's Perspective - Advanced Directors College 2005 - Mandatory Accreditation Programme (MAP) - Directors Duties And Governance Conference 2010 "Towards Boardroom Excellence & Corporate Governance Best Practices" - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Latest Trends in Corporate Governance, Internal Audit, Detection and Prevention of Fraud and Credit Rating - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP)

Datuk Fong Joo Chung

Datuk Hashim bin Ismail Dato' Mohamad Norza bin Zakaria Datu Hj. Abang Halmi bin Ikhwan Dato' Shamsul Azhar bin Abbas

(Director until 28/04/09)

Amir Hamzah bin Azizan

(Appointed on 28/04/09)

Ahmad Nizam bin Salleh

Supply of Information

The Management supplies the Board with timely, reliable and relevant information, analysis and recommendations to enable the Board to discharge its duties efficiently and effectively. All the Directors have access to all information whether as a full board or in their individual capacity. An open line of communication between the individual members of the Board and Management is encouraged to enable Directors to gain a better understanding of the Group's business. The information furnish for Board meetings includes: i. Notice of meetings, agenda and board papers duly distributed in advance prior to the meeting dates to enable the Directors to read and be properly prepared before the said meeting. The Board papers will include minutes of meetings of the Board and its Committees, comprehensive management reports, proposal papers and supporting documents. The Management scheduled the meetings in advance to enable the Directors to prepare ahead and fit the year's meeting schedule into their own. As and when required, special Board meetings are held to deliberate and assess proposals or business issues that require timely decisions by the Board. Management representatives who are able to provide additional insight will be present during the Board and Board Committees' Meetings. Appointed advisers and professionals may be invited to provide further explanations and advice where applicable.

BINTULU PORT HOLDINGS BERHAD (380802-T) 51

ii.

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

iii.

The Board deliberated and considered matters that encapsulate the Group financial and operational performance against annual budget, current business review and the business strategies as well as matters pertaining to procurements. Minutes of the Board meetings including decisions and resolutions of the Board are properly recorded by the Company Secretary for their perusal prior to confirmation at the following meetings. The Company Secretary will advice the Directors and is responsible in ensuring that the Board meeting procedures and applicable rules and regulations are complied with.

iv. v.

Director's Remuneration

The Company's Remuneration Policy provides remuneration packages necessary to attract, retain and motivate director of the quality required by the company. Details of the Directors' remuneration (including benefit-in-kind) for each Director of the Company during the Financial Year 2009 are as follows: RM`000 Fees Non-Independent Non-Executive Director Tun Dato' Seri Hj. Mohd Eusoff bin Chin (Chairman)

(Chairman cum Director until 30/10/09)

Meeting Allowance

Benefitin-kind

Total

100

14

7.3

121.3

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah (Chairman)

(Appointed as Chairman cum Director on 01/11/09)

20 84 84 84 27.5 56.7 84 84 84 84 792.2

1 14 10 15 4 5 11 17 15 15 121

7.3

21 98 94 99 31.5 61.7 95 101 99 99 920.5

Tan Sri Dato Seri Hj. Mohd. zahidi bin zainuddin Datuk Fong Joo Chung Dato' Mohamad Norza bin zakaria Dato' Shamsul Azhar bin Abbas

(Director until 28/04/09)

Amir Hamzah bin Azizan

(Appointed as Director on 04/04/09)

Ahmad Nizam bin Salleh Independent Non-Executive Director Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Datuk Hashim bin Ismail Datu Hj. Abang Halmi bin Ikhwan Total

Pursuant to Article 110 (1) of the Company's Articles of Association and Chapter 7, Part J, Para 7.23 ­ Remuneration of Directors of the Main Market Listing Requirements, the Directors are paid fixed Directors' fees as approved in the AGM.

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SHAREHOLDERS

Investor's Relation and Shareholder's Communication The Board acknowledges and values effective communication by both the Board and the Management with the Shareholders, Stakeholders, Investors and the general public at large. Hence, such communications are channelled through the distribution of the Annual Reports which incorporates the business, operational and financial performance as well as other related corporate information of the Group. The primary contact for Investor Relations matters of the Group are the following officers: a. Chief Executive Officer Bintulu Port Holdings Berhad Tel: + 60 86 ­ 252657 Fax: + 60 86 ­ 253597 Company Secretary Bintulu Port Holdings Berhad Tel: + 60 86 ­ 291001 (ext: 379)/251090 (Direct Line) Fax: + 60 86 ­ 251578/254062

b.

Other than that, the means of communication includes the Annual General Meeting (AGM) itself where the shareholders are welcomed to raise any issues and queries directly with the Board and Management, holding dialogues and regular briefings as well as interfacing sessions with the investors, shareholders and analysts. Further information of the Group are also posted in the Company's website at http://www.bintuluport.com.my Annual General Meeting (AGM) The AGM is the opportunity for the shareholders to communicate with the Board and exchange views as well as to approve resolution including payment of dividend, Director's fees, election and appointment of Directors and Auditors. All shareholders have direct access to the Board members at this AGM and able to exercise their rights effectively. Shareholders are provided with full and relevant information pertaining to the affairs of the Company in the Question and Answer (Q&A) sessions. The external auditor attended the AGM as well and is available to answer questions from theshareholders present. Immediately after the AGM, the Company will call for a Press Conference where the Chairman advises the Press on resolutions passed and answer question posed by the press to the Group.

ACCOUNTABILITY AND AUDIT

Financial Reporting The Board acknowledges that Financial Reporting should reflect a balanced and understandable assessment of the Company's position and prospects through financial statement with quarterly and annually announcements of results to the shareholders. The Boards ensures that the Company's and the Group's financial results are in accordance with the approved accounting standards of Malaysia and are committed to provide timely, relevant and up to date disclosures of the performance of the Group. Such financial statements are prepared in a consolidated form as provided for under Chapter 9, Part K, Para 9.24 of the Main Market Listing Requirements. In complying with Section 169 (15) of the Companies Act 1965, the Directors are required to ensure that Financial Statement prepared for each financial year provides a true and fair view on the state of affairs of the Company and the Group. Pursuant to Section 169 (16) of the Companies Act 1965, a declaration on the correctness of the accompanying financial statement in the Annual Report was made by the officer primarily responsible for the financial management of the Company who is also a member of the Malaysian Institute of

BINTULU PORT HOLDINGS BERHAD (380802-T)

53

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Accountant (MIA). This fulfills the requirement of Chapter 9, Part K, Para 9.27 (a) of the Main Market Listing Requirements. The Audit Committee had initiated separate session with the External Auditor in the absence of the Management in screening the accuracy and adequacy of the Financial Result and other related matters which are important for disclosure and various purposes. Internal Control The Board is continuously committed to maintain a sound system of internal control in order to safeguard the shareholders' investment and the Group`s assets. This responsibility extends to cover the operational and compliance controls as well as risk management. Information on Group's Internal Control is presented in the Statement on Internal Control laid out on page 67 to 69 of this Annual Report. Relationship with Auditors In seeking professional advice and to ensure that the Board complies with the accounting standards in Malaysia, the Group has established professional relationship with the External Auditors through its' Audit Committee and the Internal Audit Department. The Audit Committee has been overtly accorded the power to communicate directly with both the external and internal Auditors. Further details on the composition and Terms of Reference of the Audit Committee can be found in the Audit Committee Report on page 80 to 83 of this Annual Report.

OTHER INFORMATION

Status of Utilization of Proceeds from the Initial Public Offer Complying with the requirement of Chapter 9, Para 9.25 and Para 9.41 and in particular Item (13) of Appendix 9C of the Main Market Listing Requirements, the Board had incorporated in this report the status of utilisation of proceeds from the Initial Public Offer (IPO) as at 31st December 2009, to be as follows:

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Utilisation

Actual Approved Contract Utilisation Sum

Actual Utilisation As at 31/12/09 (RM'000)

Balance Completion Approved New Utilisation Date as per Completion of Prospectus Date Proceed

Construction of warehouse facilities Bulk Fertilizer Warehouse Timber Product Additional equipment/ facilities for BICT Mobile Harbour Cranes Rubber Tyre Gantry Cranes Container Freight Station Container Stacking Yard Purchase of 5 units Tugboats - 2 units 25 tons Tugboats - 3 unit 45 tons Tugboats (58,522) 16,000 12,000 10,000 10,000 71,000 9,495 8,685 14,999 62,000 75,471 (9,495) (8,447) (4,127) (53,360) (84,468) (25,946) 6,505 3,553 5,878 (43,360) (13,468) Dec 2002 Dec 2003 Dec 2003 Dec 2003 Dec 2002 Completed on 7/03/03 Completed on 16/05/04 Dec 2010 Dec 2010 2 units of 25 tons tugboats were completed on 15/11/02 and another 3 units 45 tons were completed on 02/11/07, 09/01/08 and 24/01/08 respectively. 20,000 10,000 16,975 88,886 (18,495) (12,800) 1,505 (2,800) March 2003 Dec 2002 Completed on 20/09/05 Dec 2010

Listing Expenses Working capital Total

11,000 40,000 200,000

11,160 40,000 327,671

(11,160) (40,000) (242,352)

(160) (42,352)

-

Recurrent Related Party Transactions of a Revenue Nature As required by Main Market Listing Requirements, recurrent related party transactions of a revenue nature must be disclosed in the Annual Report. For the year 2009, there are no new related parties involved with the Group other than the existing ones which comprised the States Financial Secretary (SFS) and Petroliam Nasional Berhad (PETRONAS). The transactions involved are in the ordinary course of business and are of terms not more favourable to the related party than those generally available to the public. The services rendered or goods purchased are based on a non-negotiable fixed price which is published or publicly quoted and all material terms including the prices or charges are applied consistently to all customers or classes of customers.

BINTULU PORT HOLDINGS BERHAD (380802-T) 55

STATEMENT ON CORPORATE GOvERNANCE

(PURSUANT TO CHAPTER 15, PART E, PARA 15.25 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Non-Audit Fees The requirement to disclose the non audit fee is provided for under Chapter 9, Item (18) of Appendix 9C of the Main Market Listing Requirements. Hence, the non audit fee paid to the External Auditor by the Group for reviewing the Director's Statement on Internal Control for the year ended 31st December 2009 is in the sum of RM7,000.00 only. Material Contract Pursuant to Item (21) of Appendix 9C of the Main Market Listing Requirements, the Board confirms that there are no material contract entered into by the Company and its subsidiaries involving the Directors' and major shareholders' interest still subsisting at the end of the year 2009. Imposition of Sanction / Penalties on The Company And Its Subsidiaries For The Financial Year Ended 31st December 2009 There was no sanction/penalties on the Company, its subsidiaries, Board of Directors and Management for the financial year ended 31st December 2009. Details of Attendance at Meetings Held In the Financial Year Ended 31st December 2009 For attendance, please refer to page 8 to 11 of Statement Accompanying Notice of Annual General Meeting and the Board Committees Report respectively. Statement on Compliance Having reviewed the practices and institutional framework/structures that are currently in place, the Board is of the view that Bintulu Port Holdings Berhad has complied with and observed the substantive provisions of the Malaysian Code on Corporate Governance. Statement made in accordance with the Board's Resolution dated 25th February 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Chairman

Dato' Seri Dr. Hj. Arshad bin Hashim Independent Director

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(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.25 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Lembaga Pengarah Bintulu Port Holdings Berhad mengakui akan kepentingan Urustadbir Korporat dan memberikan komitmen yang berterusan untuk mendukung piawaian tertinggi amalan Urustadbir Korporat berdasarkan prinsip dan amalan terbaik sepertimana digariskan dalam Kod Urustadbir Korporat Malaysia. Penyata Urustadbir Korporat ini dibuat dengan pematuhan kepada Chapter 15, Part E, Perenggan 15.25 Kehendak Penyenaraian Pasaran Utama dan Bahagian 2 pada Kod Urustadbir Korporat Malaysia (Kod).

PENGENALAN

Bintulu Port Holdings Berhad mengekalkan piawaian tertinggi urustadbir korporat demi menjaga kepentingan pemegang saham dan mengekalkan nilai-nilai yang ada dalam Kumpulan. Ianya telah menerimapakai Garis Panduan Urustadbir Korporat dalam mentadbir tingkahlakunya selaras dengan hasrat yang ada pada Kod Urustadbir Korporat dan Kehendak-kehendak Penyenaraian Pasaran Utama. Penyata ini telah diluluskan oleh Lembaga Pengarah dan berpendapat bahawa ianya telah mematuhi prinsip-prinsip dan amalan terbaik sepertimana digariskan dalam Kod Urustadbir Korporat bagi tahun kewangan 31 Disember 2009.

LEMBAGA PENGARAH

Tanggungjawab Utama Lembaga pengarah Tanggungjawab-tanggungjawab berikut telah diterimapakai oleh Lembaga Pengarah dalam melaksanakan tugasnya. i. Mengkaji, melulus, menerima dan memantau pelan strategik Syarikat, bajet dan unjuran kewangan Syarikat, amalan terbaik Pengurusan termasuk kewangan dan operasi serta piawaian prestasi. Tanggungjawab Lembaga Pengarah berhubung mengkaji, melulus, menerima dan memantau pelan strategik Syarikat, bajet dan unjuran kewangan Syarikat adalah bertujuan untuk memastikan objektif dan keputusan yang dibuat secara meluas dan seterusnya dilaksanakan oleh pihak Pengurusan. Mereka tidak terlibat langsung dalam urusan perniagaan seharian. Lembaga Pengarah telah mengkaji dan meluluskan Pelan Strategik Syarikat, bajet Syarikat, Penyata Kewangan, Laporan Suku Tahunan, dan piawaian prestasi Syarikat. ii. Menyelia perilaku perniagaan Syarikat dan menilai samada perniagaan diurus dengan sebaiknya. Dengan kombinasi latar belakang yang berbeza, kepakaran, pengalaman yang luas dan keupayaan setiap pengarah membolehkan Lembaga Pengarah memimpin dan mengawal Syarikat dengan berkesan. Oleh itu, dalam menjalankan tanggungjawab menyelia perilaku perniagaan Syarikat, Lembaga Pengarah telah menetapkan Kunci Prestasi Indikator (KPI) dalam bahagian operasi dan kewangan untuk mengukur prestasi Pengurusan. iii. Perlantikan dan Penentuan Ganjaran Ketua Pegawai Eksekutif dan Pengurusan Kanan. Lembaga Pengarah telah menyerahkan fungsi tersebut kepada Jawatankuasa Penamaan yang bertanggungjawab untuk menilai dan menaksir prestasi mana-mana calon yang berpotensi bagi jawatan Ketua Pegawai Eksekutif dan Pengurusan Kanan. Manakala fungsi Jawatankuasa Ganjaran pula meneliti semakan gaji, pembayaran bonus dan lain-lain ganjaran Ketua Pegawai Eksekutif, Pengurusan Kanan dan semua staf. Jawatankuasa-Jawatankuasa ini kemudiannya akan membuat perakuan untuk kelulusan Lembaga Pengarah.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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LAPORAN TAHUNAN 2009 ANNUAL REPORT

iv. Mengenalpasti risiko-risiko utama dan memastikan perlaksanaan sIstem yang teratur untuk menguruskan risiko-risiko tersebut. Sistem pengurusan risiko dianggap sebagai pelengkap dalam operasi perniagaan dan telah disemai dalam sistem kawalan dalaman Kumpulan. Lembaga Pengarah telah menyerahkan fungsi ini kepada Jawatankuasa Audit dan Jawatankuasa Kewangan dan Pengurusan Risiko untuk memantau dan meneliti sistem serta rangka kerja Enterprise Risk Management (ERM). v. Pembangunan dan Perlaksanaan Program Perhubungan dengan Pelabur. Syarikat mengakui pentingnya mengekalkan komunikasi yang berkesan dengan para pelabur dan pemegang saham serta melaksanakannya melalui beberapa kaedah: a. b. c. d. e. f. g. Penyebaran maklumat semasa Mesyuarat Agung Tahunan (AGM) Syarikat; Sesi dialog bersama Pemegang Saham dan Pelabur; Penyebaran maklumat melalui Laporan Tahunan dan buletin; Pengumuman keputusan Laporan Suku Tahunan Kewangan tepat pada masanya; Pengumuman yang bersesuaian kepada Bursa Malaysia; Membuat sidang akbar secara berkala; dan Memasukkan maklumat berhubung dengan prestasi Syarikat dalam laman web http://www.bintuluport.com.my

vi. Mengkaji dan menyelia kecukupan sistem kawalan dalaman termasuk mematuhi peruntukan perundangan yang ada, arahan dan garispanduan. Lembaga Pengarah telah menubuhkan pelbagai Jawatankuasa dengan fungsi yang khusus, peranan dan tanggungjawab dalam usaha memastikan kecukupan Sistem Kawalan Dalaman Syarikat dan pematuhan kepada undang-undang yang sedia ada, peraturan-peraturan dan arahan-arahan sebelum melaksanakan sebarang cadangan-cadangan tersebut.

Kod Etika

Lembaga Pengarah Bintulu Port Holdings Berhad mematuhi Kod Etika Pengarah Syarikat yang telah ditetapkan oleh Suruhanjaya Syarikat Malaysia. Kod Etika tersebut mentadbir piawaian ke atas etika dan tingkahlaku para Pengarah termasuk prinsip-prinsip berkaitan tanggungjawab Pengarah, kebajikan pekerja serta tanggungjawab sosial korporat. Lembaga Pengarah melaksanakan penilaian yang adil dan professional sebelum meluluskan resolusi yang dicadangkan atau kelulusan ke atas perkara berbangkit. Ini adalah penting untuk mengelak daripada penyalahgunaan kuasa dan penyelewengan.

Komposisi dan Keseimbangan Lembaga Pengarah

Semenjak diapongkan, Kumpulan telah patuh kepada keperluan dibawah Chapter 15, Part B, Perenggan 15.02 ­ Komposisi Lembaga Pengarah pada Kehendak-kehendak Penyenaraian Pasaran Utama yang memerlukan satu pertiga (1/3) dari komposisi Lembaga Pengarahnya hendaklah terdiri dari Pengarah Bebas. Bagi tahun kewangan berakhir 31 Disember 2009, komposisi Lembaga pengarah terdiri daripada enam (6) orang Pengarah Bukan Bebas Bukan Eksekutif dan tiga (3) Pengarah Bebas Bukan Eksekutif seperti berikut:

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BINTULU PORT HOLDINGS BERHAD (380802-T)

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Komposisi Lembaga Pengarah, Bintulu Port Holdings Berhad Tun Dato' Seri Hj. Mohd Eusoff bin Chin

(Pengerusi merangkap Pengarah sehingga 30/10/09)

Pengerusi/Pengarah Bukan Bebas Bukan Eksekutif Pengerusi/Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif Pengarah Bukan Bebas Bukan Eksekutif

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

(Dilantik sebagai Pengerusi merangkap Pengarah pada 01/11/09)

Tan Sri Dato Seri Hj. Mohd. zahidi bin zainuddin Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Datuk Fong Joo Chung Datuk Hashim bin Ismail Dato' Mohamad Norza bin zakaria Datu Hj. Abang Halmi bin Ikhwan Dato' Shamsul Azhar bin Abbas

(Pengarah sehingga 28/04/09)

Amir Hamzah bin Azizan

(Dilantik sebagai Pengarah pada 28/04/09)

Ahmad Nizam bin Salleh

Kesemua ahli Lembaga Pengarah telah memberi deklarasi, akujanji dan pengesahan ke atas pematuhan kepada Kehendak-kehendak Penyenaraian Pasaran Utama. Pengarah-pengarah Bebas Bukan Eksekutif akan melaksanakan penilaian secara bebas dan adil manakala Pengarah-pengarah Bukan Bebas Bukan Eksekutif pula memainkan peranan mereka sewajarnya. Kementerian Kewangan (Diperbadankan) adalah Pemegang Saham Khas manakala Petroliam Nasional Berhad (PETRONAS), Setiausaha Kewangan Negeri Sarawak (SFS) dan Kumpulan Wang Persaraan (Diperbadankan) (KWAP) adalah merupakan pemegang saham utama Syarikat. Kedua-dua Pemegang Saham Khas dan Pemegang Saham Utama, kecuali KWAP mempunyai wakil dalam Lembaga Pengarah.

Pengasingan Kuasa dan Autoriti

Terdapat pengasingan kuasa dan autoriti diantara Lembaga Pengarah dan Pengurusan berpandukan pengasingan fungsi, peranan dan tanggungjawab yang jelas. Ini adalah untuk memastikan tiada seorang individu yang mempunyai kuasa tidak terbatas untuk membuat keputusan dalam Syarikat. Jawatan Pengerusi dan Ketua Pegawai Eksekutif (KPE) dipegang oleh dua (2) orang individu yang berlainan, Pengerusi menjadi ketua Lembaga Pengarah manakala Ketua Pegawai Eksekutif pula mengetuai pihak Pengurusan. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah adalah Pengerusi Bintulu Port Holdings Berhad dan beliau bertanggungjawab memastikan perilaku dan tugasan Lembaga Pengarah serta keberkesanan fungsi Lembaga Pengarah yang teratur manakala Encik Mior Ahmad Baiti bin Mior Lub Ahmad selaku Ketua Pegawai Eksekutif bertanggungjawab ke atas urusan perjalanan harian perniagaan dan operasi Syarikat. Dalam hal ini, Ketua Pegawai Eksekutif akan memimpin Pengurusan melaksanakan polisi dan keputusan yang telah diluluskan oleh Lembaga Pengarah.

Perlantikan Dan Lantikan Semula Lembaga Pengarah

Dalam membuat perlantikan dan lantikan semula Pengarah, Artikel 132, Tataurusan Syarikat memberi kuasa kepada Lembaga Pengarah melantik mana-mana individu yang sanggup menjadi Pengarah dan mengisi kekosongan yang ada dan individu tersebut adalah layak dilantik semula pada Mesyuarat Agung Tahunan

BINTULU PORT HOLDINGS BERHAD (380802-T)

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LAPORAN TAHUNAN 2009 ANNUAL REPORT

(AGM). Juga, perlantikan para Pengarah secara giliran diperuntukan dibawah Artikel 127, Tataurusan Syarikat dan Chapter 7, Part J, Perenggan 7.26 Kehendak-kehendak Penyenaraian Pasaran Utama yang memerlukan satu pertiga (1/3) daripada para pengarah bersara secara giliran dan layak untuk lantikan semula. Jawatankuasa Penamaan diberi kuasa menilai calon-calon yang berpotensi bagi jawatan Pengarah, perlantikan dan lantikan semula ahli Lembaga Pengarah sebelum memperakukan kepada Lembaga Pengarah. Dalam menilai komposisi Lembaga Pengarah dan menentukan calon bagi jawatan Pengarah, kepelbagaian kemahiran, pengetahuan, pengalaman, sifat dan nilai kualiti individu yang dicadangan menjadi Pengarah itu akan dipertimbangkan.

Latihan Lembaga Pengarah

Dalam mematuhi peruntukan Chapter 15, Part B, Perenggan 15.08 Kehendak-kehendak Penyenaraian Pasaran Utama, pengarah-pengarah yang dilantik perlu menghadiri Mandatory Accreditation Program (MAP), Continuous Education Program (CEP) dan kursus-kursus lain yang bersesuaian dari semasa ke semasa untuk meningkatkan pengetahuan dan memudahkan mereka menjalankan tugas dan tanggungjawab mereka dengan baik. Bentuk latihan seperti ini merupakan sebahagian dari orientasi dan program pendidikan bagi pengarah yang baru dilantik, juga sebagai ulangkaji kepada pengarah sedia ada supaya mereka sentiasa didedahkan dengan pembangunan perniagaan persekitaran terkini termasuk perundangan yang dikemaskini. Bagi tahun kewangan berakhir 31 Disember 2009, Lembaga Pengarah Bintulu Port Holding Berhad telah menghadiri kursus-kursus seperti berikut: Lembaga Pengarah Latihan - Mandatory Accreditation Programme (MAP) - Audit Committees' Unique Competency Requirements - A Half-day impact seminar on Practical Aspect in Conducting General Meeting of Public Listed Companies - Company Valuation, Restriction & Funding - International Currency Risk Management Risk Management Seminar - Mandatory Accreditation Programme (MAP)

Tun Dato' Seri Hj. Mohd Eusoff bin Chin

(Pengerusi 30/10/09) merangkap Pengarah sehingga

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

(Dilantik sebagai Pengerusi Pengarah pada 1/10/09) merangkap

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin

- Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Understanding Financials Management for Company Directors and Senior Management - Managing Business Turnaround - Managing Going Global Business - Briefing for Financial Instruments; Recognition, Measurement, Presentation And Disclosure. - Audit Committee Role and The Internal Audit Challenges. - Board Effectiveness: Redefining The Roles And Functions Of An Independent Director.

Dato' Seri Dr. Hj. Arshad bin Hashim

60

BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

- Risk Management Best Practices. - Directors Duties And Governance Conference 2010 "Towards Boardroom Excellence & Corporate Governance Best Practices" - Forum On "The Challenges Of Implementing FRS 139. - Mandatory Accreditation Programme (MAP) - Kuala Lumpur Stock Exchange Berhad Corporate Governance Conference `Financial Reporting and Alternative Solution to Achieving Better Corporate Governance' - Understanding and Minimizing The Risk of Accounting Manipulations: A Corporate Director's Perspective - Advanced Directors College 2005 - Mandatory Accreditation Programme (MAP) - Directors Duties And Governance Conference 2010 "Towards Boardroom Excellence & Corporate Governance Best Practices" - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Latest Trends in Corporate Governance, Internal Audit, Detection and Prevention of Fraud and Credit Rating - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP) - Mandatory Accreditation Programme (MAP)

Datuk Fong Joo Chung

Datuk Hashim bin Ismail Dato' Mohamad Norza bin Zakaria Datu Hj. Abang Halmi bin Ikhwan Dato' Shamsul Azhar bin Abbas

(Pengarah sehingga 28/04/09)

Amir Hamzah bin Azizan

(Dilantik sebagai Pengarah pada 28/04/09)

Ahmad Nizam bin Salleh

Bekalan Maklumat

Pihak Pengurusan akan membekalkan maklumat yang berkaitan, analisis-analisis dan cadangan-cadangan dengan cepat untuk membolehkan Lembaga Pengarah menjalankan tugasnya secara berkesan dan efisyen. Kesemua Pengarah mempunyai akses kepada maklumat samada secara menyeluruh ataupun atas kapasiti individu. Komunikasi secara terbuka di antara individu pengarah dan Pengurusan adalah digalakkan bagi membolehkan Lembaga Pengarah memahami dengan lebih baik perniagaan Kumpulan. Maklumat yang disediakan untuk mesyuarat Lembaga Pengarah termasuklah: i. Notis mesyuarat, agenda dan kertas cadangan akan diedarkan lebih awal bagi membolehkan para Pengarah membaca dan bersedia sebelum mesyuarat diadakan. Dokumen mesyuarat mengandungi minit mesyuarat Lembaga Pengarah dan Jawatankuasanya, laporan pengurusan yang komprehensif, kertas cadangan dan dokumen sokongan. Pihak Pengurusan menyediakan jadual Mesyuarat Lembaga Pengarah lebih awal bagi membolehkan para Pengarah merangka jadual dan menetapkan mesyuarat supaya bersesuaian dengan jadual mereka sendiri. Sekiranya perlu, Mesyuarat Khas Lembaga Pengarah akan diadakan untuk membincangkan cadangan atau isu perniagaan yang memerlukan keputusan yang cepat dari Lembaga Pengarah. Wakil Pengurusan yang boleh memberikan penjelasan tambahan akan dipanggil dalam mesyuarat Lembaga Pengarah dan Jawatankuasa Lembaga Pengarah. Penasihat dan golongan professional yang dilantik akan dijemput untuk memberikan penerangan lanjut dan nasihat yang berguna jika perlu.

BINTULU PORT HOLDINGS BERHAD (380802-T) 61

ii.

PENYATA BERKAITAN URUSTADBIR KORPORAT

(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.25 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

iii.

Lembaga Pengarah akan membincang dan mempertimbangkan perkara yang merangkumi kewangan Kumpulan dan prestasi operasi berbanding bajet tahunan, kajian perniagaan terkini dan strategi perniagaan serta urusan perolehan. Minit Mesyuarat Lembaga Pengarah termasuk keputusan dan resolusi Pengarah direkod secara sempurna oleh Setiausaha Syarikat untuk semakan terlebih dahulu sebelum pengesahan dalam mesyuarat yang seterusnya. Setiausaha Syarikat akan memberi nasihat kepada para Pengarah dan bertanggungjawab memastikan prosidur dan peraturan mesyuarat dipatuhi.

iv.

v.

Ganjaran Pengarah

Polisi Ganjaran Syarikat menyediakan pakej ganjaran yang bersesuaian bagi menarik, mengekal dan memotivasikan pengarah-pengarah akan kualiti yang diperlukan oleh syarikat. Butiran lanjut ganjaran Pengarah (termasuklah manfaat barangan) setiap Pengarah bagi Tahun Kewangan 2009 adalah seperti berikut: RM`000 Yuran Pengarah Bukan Bebas Bukan Eksekutif Tun Dato' Seri Hj. Mohd Eusoff bin Chin (Pengerusi)

(Pengerusi merangkap Pengarah sehingga 30/10/09)

Elaun Manfaat Mesyuarat Barangan

Jumlah

100

14

7.3

121.3

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah (Pengerusi)

(Dilantik sebagai Pengerusi merangkap Pengarah pada 01/11/09)

20 84 84 84 27.5 56.7 84 84 84 84 792.2

1 14 10 15 4 5 11 17 15 15 121

7.3

21 98 94 99 31.5 61.7 95 101 99 99 920.5

Tan Sri Dato Seri Hj. Mohd. zahidi bin zainuddin Datuk Fong Joo Chung Dato' Mohamad Norza bin zakaria Dato' Shamsul Azhar bin Abbas

(Pengarah sehingga 28/04/09)

Amir Hamzah bin Azizan

(Dilantik sebagai Pengarah pada 04/04/09)

Ahmad Nizam bin Salleh Pengarah Bebas Bukan Eksekutif Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Datuk Hashim bin Ismail Datu Hj. Abang Halmi bin Ikhwan Jumlah

Selaras dengan Artikel 110 (1) Tataurusan Syarikat dan Chapter 7, Part J, Perenggan 7.23 ­ Ganjaran Pengarah pada Kehendak-kehendak Penyenaraian Pasaran Utama, pengarah-pengarah akan dibayar elaun tetap seperti yang telah diluluskan dalam AGM.

62

BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

PEMEGANG SAHAM

Hubungan Komunikasi Dengan Pelabur Dan Pemegang Saham Lembaga Pengarah mengakui dan menghargai komunikasi yang berkesan di antara Lembaga Pengarah dan Pengurusan dengan para Pemegang Saham, Stakeholders, Pelabur dan orang awam secara amnya. Dengan itu, komunikasi tersebut disalurkan melalui pengedaran Laporan Tahunan yang merangkumi perniagaan, prestasi operasi dan kewangan serta lain-lain maklumat korporat Kumpulan. Pegawai yang boleh dihubungi bagi Perhubungan Pelabur adalah seperti berikut: a. Ketua Pegawai Eksekutif Bintulu Port Holdings Berhad Tel: + 60 86 ­ 252657 Faks: + 60 86 ­ 253597 Setiausaha Syarikat Bintulu Port Holdings Berhad Tel: + 60 86 ­ 291001 (ext: 379)/251090 (Talian Terus) Faks: + 60 86 ­ 251578/254062

b.

Selain itu, kaedah-kaedah komunikasi lain adalah termasuk Mesyuarat Agung Tahunan (AGM), dimana para pemegang saham dialu-alukan untuk bertanya soalan dan membangkitkan isu kepada Lembaga Pengarah dan Pengurusan secara terus, mengadakan sesi dialog dan kekerapan taklimat serta sesi bersama para pelabur, pemegang saham dan penganalisis. Maklumat lanjut berkenaan Kumpulan juga boleh diperolehi daripada laman web Syarikat http://www.bintuluport.com.my. Mesyuarat Agung Tahunan (AGM) Mesyuarat Agung Tahunan merupakan peluang bagi para pemegang saham berkomunikasi dengan Lembaga Pengarah dan saling bertukar pandangan serta meluluskan resolusi termasuk pembayaran dividen, yuran Pengarah, perlantikan Pengarah dan Juruaudit. Semua pemegang saham mempunyai akses kepada ahli-ahli Lembaga Pengarah semasa Mesyuarat Agung Tahunan dan dapat melaksanakan haknya dengan berkesan. Para Pemegang Saham dibekalkan dengan maklumat yang lengkap dan relevan ke atas hal ehwal Syarikat semasa Sesi Soal Jawab. Juruaudit Luar juga menghadiri Mesyuarat Agung Tahunan ini dan bersedia menjawab soalan yang diutarakan oleh para pemegang saham yang hadir. Sejurus selepas Mesyuarat Agung Tahunan, Syarikat akan membuat sidang akhbar dimana Pengerusi akan memaklumkan para wartawan berkaitan resolusi yang telah diluluskan dan menjawab soalan dari pihak media berkaitan Kumpulan.

AUDIT DAN AKAUNTIBILITI

Laporan Kewangan Lembaga Pengarah mengakui bahawa Laporan Kewangan sepatutnya menggambarkan kedudukan dan prospek Syarikat yang seimbang dan penilaian yang difahami melalui Penyata Kewangan dengan mengumumkan keputusan kepada para pemegang saham secara tahunan dan suku tahunan. Lembaga Pengarah memastikan bahawa Laporan Kewangan Syarikat dan Kumpulan adalah selaras dengan piawaian perakaunan yang diluluskan di Malaysia dan komited memberi penzahiran ke atas prestasi Kumpulan tepat pada waktunya, relevan dan terkini. Penyediaan Penyata Kewangan ini adalah dalam bentuk konsolidasi sepertimana diperuntukan dibawah Chapter 9, Part K, Perenggan 9.24 Kehendak-kehendak Penyenaraian Pasaran Utama.

BINTULU PORT HOLDINGS BERHAD (380802-T)

63

PENYATA BERKAITAN URUSTADBIR KORPORAT

(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.25 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Dalam mematuhi peruntukan Seksyen 165 (15) Akta Syarikat 1965, Lembaga Pengarah perlu memastikan Penyata Kewangan yang disediakan setiap tahun memberi gambaran yang betul dan munasabah ke atas hal ehwal Syarikat dan Kumpulan. Selaras dengan Seksyen 169 (16) Akta Syarikat 1965, pengisytiharan penyata kewangan yang disertakan dalam Laporan tahunan dibuat oleh Pegawai yang bertanggungjawab terhadap pengurusan kewangan Syarikat yang juga merupakan ahli Institut Akauntan Malaysia (MIA). Ini adalah bagi memenuhi keperluan Chapter 9, Part K, Perenggan 9.27 Kehendak-kehendak Penyenaraian Pasaran Utama. Jawatankuasa Audit telah mengadakan sesi pertemuan secara berasingan dengan Juruaudit Luar tanpa kehadiran Pengurusan bagi memastikan ketepatan dan kecukupan Keputusan Kewangan yang mana adalah penting untuk penzahiran dan pelbagai guna. Kawalan Dalaman Lembaga Pengarah secara berterusan adalah komited memastikan sistem kawalan dalaman yang baik bagi menjaga pelaburan pemegang saham dan aset Kumpulan. Tanggungjawab ini adalah termasuk kawalan ke atas operasi dan pematuhan serta pengurusan risiko. Butiran lanjut ke atas Kawalan Dalaman Kumpulan dinyatakan dalam Penyata Berkaitan Kawalan Dalaman ini terdapat di mukasurat 70 hingga 73 pada Laporan Tahunan ini. Hubungan dengan Juruaudit Dalam mendapatkan nasihat profesional dan bagi memastikan Lembaga Pengarah patuh kepada piawaian perakaunan di Malaysia, Kumpulan telah mewujudkan satu hubungan professional dengan Juruaudit Luar melalui Jawatankuasa Audit dan Jabatan Audit Dalam. Jawatankuasa Audit telah diberi kuasa yang jelas untuk berkomunikasi secara terus dengan Juruaudit Luar dan Juruaudit Dalam. Butiran lanjut komposisi dan Terma Rujukan Jawatankuasa Audit boleh didapati di laporan Jawatankuasa Audit pada mukasurat 84 hingga 87 pada Laporan Tahunan ini.

LAIN-LAIN MAKLUMAT

Status Penggunaan Dana Terbitan Awam Awal Dengan mematuhi keperluan Chapter 9, Perenggan 9.25 dan Perenggan 9.41, khususnya Perkara (13) Appendix 9C Kehendak-kehendak Penyenaraian Pasaran Utama, Lembaga Pengarah telah memasukkan, status penggunaan Dana Terbitan Awam Awal (IPO) setakat 31 Disember seperti berikut:

64

BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Penggunaan

Penggunaan yang Diluluskan

Harga Kontrak Sebenar

Penggunaan Sebenar Baki setakat Penggunaan 31/12/09 Perolehan

Tarikh Penyiapan Seperti dalam Prospektus

Penyiapan Baru Yang Diluluskan

(RM'000) Construction of warehouse facilities Bulk Fertilizer Warehouse Timber Product Additional equipment/ facilities for BICT Mobile Harbour Cranes Rubber Tyre Gantry Cranes Container Freight Station Container Stacking Yard Purchase of 5 units Tugboats - 2 units 25 tons Tugboats - 3 unit 45 tons Tugboats 16,000 12,000 10,000 10,000 71,000 9,495 8,685 14,999 62,000 75,471 (9,495) (8,447) (4,127) (53,360) (84,468) (25,946) 6,505 3,553 5,878 (43,360) (13,468) Dec 2002 Dec 2003 Dec 2003 Dec 2003 Dec 2002 Siap pada 7/03/03 Siap pada 16/05/04 Dec 2010 Dec 2010 2 unit 25 tan bot tunda telah disiapkan pada 15/11/02 dan 3 unit 45 tan lagi telah disiapkan pada 02/11/07, 09/01/08 dan 24/01/08 masingmasingnya. 20,000 10,000 16,975 88,886 (18,495) (12,800) 1,505 (2,800) March 2003 Dec 2002 Siap pada 20/09/05 Dec 2010

(58,522)

Perbelanjaan Penyenaraian Perbelanjaan Modal Kerja Jumlah

11,000 40,000 200,000

11,160 40,000 327,671

(11,160) (40,000) (242,352)

(160) (42,352)

-

BINTULU PORT HOLDINGS BERHAD (380802-T)

65

PENYATA BERKAITAN URUSTADBIR KORPORAT

(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.25 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Urusniaga Berulang Pihak Berkaitan Jenis Hasil Urusniaga berulang pihak berkaitan jenis hasil hendaklah dizahirkan dalam Laporan Tahunan sepertimana keperluan Kehendak-kehendak Penyenaraian Pasaran Utama, Bagi tahun 2009, tiada urusniaga berulang pihak berkaitan baru yang terlibat dengan Kumpulan melainkan yang sedia ada iaitu Setiausaha Kewangan Negeri Sarawak (SFS) dan Petroliam Nasional Berhad (PETRONAS). Urusniaga yang terlibat adalah urusniaga dalam keadaan biasa dan tidak menguntungkan pihak berkaitan berbanding dengan yang boleh didapati oleh pihak awam secara umumnya. Perkhidmatan-perkhidmatan yang diberikan atau barangan yang dibeli adalah berdasarkan harga tetap yang tidak boleh dirunding dan diterbitkan atau disebutharga secara umum dan semua terma utama termasuk harga atau caj dikenakan secara konsisten ke atas semua pelanggan atau kelas pelanggan. Yuran Bukan Audit Keperluan untuk menzahirkan yuran bukan audit diperuntukan dalam Chapter 9, Perkara (18) Appendix 9C Kehendak-kehendak Penyenaraian Pasaran Utama. Dengan itu, yuran bukan audit yang dibayar oleh Kumpulan kepada Juruaudit Luar bagi meneliti Penyata Berkaitan Kawalan Dalaman bagi tahun kewangan berakhir 31 Disember 2009 adalah sebanyak RM7,000.00. Kontrak Utama Selaras dengan Perkara (21) Appendix 9C Kehendak-kehendak Penyenaraian Pasaran Utama, Lembaga Pengarah mengesahkan tiada kontrak utama dimeteri oleh Syarikat dengan subsidiarinya yang melibatkan kepentingan para pengarah dan pemegang saham utama yang sedang berlangsung pada penghujung tahun 2009. Pengenaan Hukuman / Penatli Terhadap Syarikat Dan Subsidiarinya Bagi Tahun Kewangan Berakhir 31 Disember 2009 Tiada sebarang hukuman atau penalti yang dikenakan terhadap Syarikat, subsidiarinya, Lembaga Pengarah dan Pengurusan bagi tahun kewangan berakhir 31 Disember 2009. Butiran Terperinci Kehadiran Mesyuarat yang Diadakan Dalam Tahun Kewangan Berakhir 31 Disember 2009 Bagi Kehadiran Mesyuarat, sila rujuk muka surat 6 hingga 7 pada Penyata Berserta Notis Mesyuarat Agung Tahunan dan Laporan Jawatankuasa Lembaga Pengarah masing-masingnya. Penyata ke Atas Pematuhan Setelah meneliti amalan dan institusi struktur/rangka kerja yang sedia ada, Lembaga Pengarah berpendapat bahawa Bintulu Port Holdings Berhad telah mematuhi peruntukan yang ada dalam Kod Urustadbir Korporat Malaysia. Penyata ini dibuat selaras dengan Resolusi Lembaga Pengarah bertarikh 25 Februari 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Pengerusi

Dato' Seri Dr. Hj. Arshad bin Hashim Pengarah Bebas

66

BINTULU PORT HOLDINGS BERHAD (380802-T)

STATEMENT ON INTERNAL CONTROL

(PURSUANT TO CHAPTER 15, PART E, PARA 15.26 (B) OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

In line with Para 15.26 (b) of the Main Market Listing Requirements (Main Market LR) and pursuant to Malaysian Code on Corporate Governance, the Board is required to include the Statement on Internal Control in its annual report. Hence, the Board is committed to maintain a sound system of internal control within the Group through the various Committees of the Board.

RESPONSIBILITY

The Board of Directors (Board) is responsible for the Group's system of internal control which covers governance, financial, compliance and risk management as well as reviewing the adequacy and integrity of those systems and its effectiveness in order to safeguard the Shareholders' investments and the Group's assets. Among others, this include reviewing and adopting the Strategic Plan for the Group, receiving and reviewing regular reports from the management which comprises of operational, financial, statistic, legal and regulatory matters as well as implementing the investor relations programme for the assurance of the continuing key internal control process. This system of internal control obviously is designed to manage and control the Group's risk within an acceptable risk profile rather than eliminating the risk of failures in order to achieve the Group's objective. Accordingly, it provides reasonable assurance of effectiveness against material misstatement of management and financial information, financial losses, fraud and occurrence of unforeseeable circumstances. The Group also performs comprehensive budgeting and forecasting exercise where performance against budget are analyzed and reported on a quarterly basis to the Board. The forecast are reviewed semi-annually taking into account the changes in the market and significant business risks. Any corrective actions to be taken are carried out on a timely manner. The Group through its subsidiaries had established Quality Management System (ISO 9001:2000) in order to ensure compliance with all procedures. This system is audited semi annually by both the Internal Quality Auditors as well as the Lloyds Registered Quality Assurance (LRQA) for continuous compliance and enhancement of customer satisfaction. Currently, the Group is in the process of renewing its Quality Certificate of ISO 9001:2008) and expected to be certified under the said standard by the first quarter of 2010. The Group through its subsidiary company, the Bintulu Port Sdn. Bhd. is in the process of applying for the certification on HACCP Feed Safety Management System mainly for the Cargo Handling Services and the certification for GMP+B3 for both the Trade, Collection and Storage & Transhipment of Feeds (Fixed Scope) and Handling of Palm Kernel Related Products (Free Scope) from LRQA. In addition, the Group has maintained its International Ship and Port Facility Security Code (ISPS) Compliance. The duly documented code of conduct has been issued to the staff upon joining the Group and they are required to adhere strictly to the said Code. The Group assured that the staffs are competent, qualified and well trained to carry out their responsibilities. The Customer Charter is significant to the Group in ensuring operational efficiency and customer's satisfaction. All level of operations are required to adhere to the customer charter.

KEY INTERNAL CONTROL

The following Committees were established to be the key controllers with dedicated roles, responsibilities and functions in order to safeguard the interest of the Group.

BINTULU PORT HOLDINGS BERHAD (380802-T)

67

STATEMENT ON INTERNAL CONTROL

(PURSUANT TO CHAPTER 15, PART E, PARA 15.26 (B) OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

1.0 Audit Committee The Audit Committee is responsible to regularly review and hold discussions with the management on issues identified by the Internal Audit Department and the external auditors. Detail statement on the Audit Committee Report can be found on page 80 to 83 of this Annual Report. 2.0 Finance and Risks Management Committee This Committee was set up to oversee the Group's business in respect of financial, budget, planning, risk control, development proposal and recommends to the Board of Directors for approval. Detail statement on this Committee can be found in the Board Committee Report on page 74 of this Annual Report. 3.0 Nomination Committee The Nomination Committee is responsible to recommend to the Board any nomination, re-election and composition of the Board. The Committee is also responsible for the appointment of the Chief Executive Officer and senior management as well as reviewing Human Resources Policies of the Group. Detail statement on this Committee can be found in the Board Committee Report on page 75 of this Annual Report. 4.0 Remuneration Committee This Committee is to recommend to the Board remuneration packages of the Directors, Chief Executive Officer and the senior management. Detail statement on this Committee can be found in the Board Committee Report on page 76 of this Annual Report. 5.0 Tender Committee Tender Committees are established to ensure that all tender administration and contract management are being carried out in accordance with the approved policies and procedures. This Committee shall also ensure that tender evaluation exercises are conducted in an effective, transparent and fair manner based on guided principles of accountability to the shareholders, published policy and procedures and value for money. The approving authority varies according to the tender value from the Chief Executive Officer to the Board of the subsidiaries and the Board of the holding company. 6.0 Other Ad-hoc Committees Apart from the above Committees, the Group had also established ad-hoc committees such as the Steering Committee for Strategic Plan, Recruitment Committee, Inquiry Committee and others where necessary in order to ensure the effectiveness of the internal control systems and for a sound check and balance process. 7.0 Primary contact for the officer responsible to the Company's Internal Control matters is as follows: a. Chief Executive Officer Bintulu Port Holdings Berhad Tel: + 60 86-252657 Fax: 60 86-253597 The Head of Internal Audit Bintulu Port Holdings Berhad Tel: + 60 86-291340 Fax: + 60 86-291617

b.

68

BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Enterprise Risk Management System Risk management is firmly embedded in the Group's system of internal control as it is regarded by the Board to be an integral part of the operation. Its function is to assist the Group to identify, manage, and control the risks existing in the Group systematically. Hence, the Group will be able to create strategic and systematic plan to handle the risks efficiently. The Board has embarked on the Enterprise Risk Management (ERM) framework which incorporates the followings: A suitable oversight structure Risk management policies Risk parameter; Process and mechanisms for risk identification; Risk Profiling Risk assessment and treatment; and Reporting mechanism

This system will be monitored and reviewed regularly by the Audit Committee as well as the Finance and Risk Management Committee. The Professionalism and Competence of Staff Staffs are encouraged to take on full ownership and accountability of the individual control mechanisms within their respective areas of works. The Performance of the staff are evaluated annually based on established Key Performance Indicators (KPI) and competencies. The Group provide sufficient budget for training and development programmes to enhance positive values and to promote culture of versatile personnel, teamwork, cooperation and total commitment towards organizational objectives. REVIEW OF THE STATEMENT BY INTERNAL AND EXTERNAL AUDITORS Both the Internal as well as the External Auditors have reviewed and affirmed this Statement on Internal Control for inclusion in the Annual Report of the Group for the financial year ended 31st December 2009 in line with Para 15.26 (b) of the Main Market Listing Requirements. The Board is of the view that the system of internal control is in place for the year under review and up to the date of issuance of Annual Report and Financial Statement and is sufficient to safeguard the shareholder's investment, the interest of customers, regulators and employees and the Group's assets. Statement made in accordance with the Board's Resolution dated the 25th February 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Chairman

Dato' Seri Dr. Hj. Arshad bin Hashim Independent Director

BINTULU PORT HOLDINGS BERHAD (380802-T)

69

PENYATA BERKAITAN KAWALAN DALAMAN

(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.26 (B) KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Selaras dengan Perenggan 15.26 (b) Kehendak-kehendak Penyenaraian Pasaran Utama dan Kod Urustadbir Korporat Malaysia, Lembaga Pengarah perlu mengemukakan Penyata Berkaitan Kawalan Dalaman dalam Laporan Tahunannya. Maka, Lembaga Pengarah adalah komited memastikan sistem kawalan dalaman yang baik dalam Kumpulan melalui pelbagai Jawatankuasa-Jawatankuasa Lembaga Pengarah.

TANGGUNGJAWAB

Lembaga Pengarah bertanggungjawab ke atas sistem kawalan dalaman Kumpulan yang merangkumi urustadbir, kewangan, pematuhan dan pengurusan risiko serta meneliti kecukupan dan intergriti sistem tersebut serta keberkesanannya bagi menjaga kepentingan pelaburan Pemegang Saham dan aset Kumpulan. Antaranya termasuklah meneliti dan menerimapakai Pelan Strategik Kumpulan, menerima dan meneliti laporan secara kerap daripada Pengurusan yang merangkumi operasi, kewangan, statistik, perundangan dan perkara-perkara berkaitan pihak berkuasa serta pelaksanaan program hubungan pelabur untuk pemastian yang berterusan proses kawalan dalaman utama. Adalah jelas bahawa sistem kawalan dalaman ini dicipta untuk mengurus dan mengawal risiko Kumpulan dalam profil risiko yang boleh diterima bukannya menghapuskan risiko kegagalan dalam mencapai objektif Kumpulan. Ianya menyediakan jaminan berpatutan keberkesanan dari salah kenyataan utama Pengurusan dan maklumat kewangan, kerugian, penyalahgunaan dan perilaku yang diluar jangkaan. Kumpulan juga melaksanakan bajet dan unjuran secara komprehensif di mana prestasi dan bajet dianalisa dan dilaporkan pada setiap suku tahun kepada Lembaga Pengarah. Unjuran tersebut akan dikaji setiap setengah tahun dengan mengambilkira perubahan keadaan pasaran dan risiko perniagaan yang ketara. Setiap tindakan pembetulan yang diambil akan dilaksanakan tepat pada waktunya. Kumpulan melalui subsidiari-subsidiarinya telah menubuhkan Sistem Pengurusan Kualiti (9001:2000) untuk memastikan Kumpulan patuh kepada semua prosidur yang telah ditetapkan. Sistem ini diaudit setiap setengah tahun oleh Juruaudit Kualiti Dalaman dan Lloyds Registered Quality Assurance (LRQA) bagi memastikan pematuhan yang berterusan dan meningkatkan kepuasan pelanggan. Terbaru, Kumpulan kini masih dalam proses memperbaharui Sijil Kualiti ISO (9001:2008) dan pentauliahan sijil berkenaan dijangka diperolehi pada suku pertama tahun 2010. Kumpulan melalui subsidiarinya, Bintulu Port Sdn. Bhd. sedang dalam proses memohon pensijilan untuk HACCP Feed Safety Management System khusus untuk Perkhidmatan Pengendalian Kargo dan pensijilan untuk GMP+B3 masing-masing bagi Dagangan, Penerimaan dan Penstoran & transhipment of feeds (Fix Scope) dan Handling of Palm Kernel Related Products (Free Scope) daripada LRQA. Sebagai tambahan, Kumpulan telah mengekalkan status pematuhan kepada International Ship and Port Facility Security Code (ISPS). Kod Tatakelakuan Kumpulan telah dibukukan dan diedarkan kepada staf sebaik sahaja menyertai Kumpulan. Dalam melaksanakan tugas, semua staf dikehendaki mematuhi sepenuhnya akan Kod tersebut. Kumpulan memastikan stafnya adalah cekap, berkelayakan dan terlatih untuk melaksanakan tugas dan tanggungjawab mereka. Piagam Pelanggan adalah penting kepada Kumpulan dalam memastikan keberkesanan operasi dan memenuhi kepuasan pelanggan. Semua peringkat operasi perlu mematuhi sepenuhnya Piagam tersebut.

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KUNCI KAWALAN DALAMAN

Jawatankuasa-jawatankuasa berikut diwujudkan bertujuan sebagai kunci kawalan dengan peranan, tanggungjawab dan fungsinya yang khusus bagi menjaga kepentingan Kumpulan. 1.0 Jawatankuasa Audit Jawatankuasa Audit bertanggungjawab meneliti dan mengadakan perbincangan secara kerap dengan Pengurusan ke atas isu-isu yang dikenalpasti oleh Jabatan Audit Dalam dan Juruaudit Luar. Butiran lanjut berkaitan Laporan Jawatankuasa Audit boleh diperolehi di mukasurat 84 hingga 87 pada Laporan Tahunan ini. 2.0 Jawatankuasa Kewangan dan Pengurusan Risiko Jawatankuasa ini ditubuhkan untuk memantau perniagaan Kumpulan dari segi kewangan, bajet, perancangan, kawalan risiko, cadangan pembangunan dan memperakukannya untuk kelulusan Lembaga Pengarah. Butiran lanjut berkaitan Jawatankuasa ini boleh diperolehi dalam Laporan Jawatankuasa Lembaga Pengarah yang terdapat di mukasurat 77 pada Laporan Tahunan ini. 3.0 Jawatankuasa Penamaan Jawatankuasa penamaan ini bertanggungjawab memperakukan kepada Lembaga Pengarah pencalonan, perlantikan semula dan komposisi Lembaga Pengarah. Jawatankuasa ini juga bertanggungjawab melantik Ketua Pegawai Eksekutif dan pengurusan kanan serta meneliti Polisi Sumber Manusia Kumpulan. Butiran lanjut berkaitan Jawatankuasa ini boleh diperolehi dalam Laporan Jawatankuasa Lembaga Pengarah yang terdapat di mukasurat 78 pada Laporan Tahunan ini. 4.0 Jawatankuasa Ganjaran Jawatankuasa ini akan memperakukan kepada Lembaga Pengarah pakej ganjaran para Pengarah, Ketua Pegawai Eksekutif dan pengurusan kanan. Butiran lanjut berkaitan Jawatankuasa ini boleh diperolehi dalam Laporan Jawatankuasa Lembaga Pengarah yang terdapat di mukasurat 79 pada Laporan Tahunan ini. 5.0 Jawatankuasa Tender Jawatankuasa Tender ditubuhkan untuk memastikan semua urusan pentadbiran tender dan pengurusan kontrak dibuat berdasarkan polisi dan prosidur yang telah diluluskan. Jawatankuasa ini juga perlu memastikan penilaian tender dilaksanakan dengan berkesan, telus dan adil berpandukan prinsip-prinsip akauntibiliti kepada pemegang saham, polisi dan prosidur yang diterimapakai, dan pulangan nilai wang. Kuasa meluluskan tender adalah berbeza daripada Ketua Pegawai Eksekutif sehinggalah Lembaga Pengarah subsidiari dan Lembaga Pengarah syarikat induknya mengikut had nilai tender tersebut.

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PENYATA BERKAITAN KAWALAN DALAMAN

(SELARAS DENGAN CHAPTER 15, PART E, PERENGGAN 15.26 (B) KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

6.0 Lain-lain Jawatankuasa Ad-hoc Selain daripada Jawatankuasa-jawatankuasa yang telah dinyatakan di atas, Kumpulan juga telah mewujudkan Jawatankuasa secara ad-hoc seperti Jawatankuasa Pemandu bagi Pelan Strategik, Jawatankuasa Pengambilan Pekerja, Jawatankuasa Siasatan dan lain-lain di mana perlu bagi memastikan keberkesanan sistem kawalan dalaman dan juga untuk proses keseimbangan dan pemeriksaan yang baik. 7.0 Pegawai yang dihubungi Pegawai yang boleh dihubungi berkenaan dengan Kawalan Dalaman adalah seperti berikut: a. Ketua Pegawai Eksekutif Bintulu Port Holdings Berhad Tel: + 60 86-252657 Fax: 60 86-253597 Ketua, Jabatan Audit Dalam Bintulu Port Holdings Berhad Tel: + 60 86-291340 Fax: + 60 86-291617

b.

Enterprise Risk Management System (ERM) Pengurusan risiko sememangnya telah disemai dengan baik dalam sistem Kawalan Dalam Kumpulan memandangkan ianya dianggap oleh Lembaga Pengarah sebagai sebahagian dari keseluruhan operasi. Fungsinya adalah untuk membantu Kumpulan mengenalpasti, mengurus, dan mengawal risiko yang wujud dalam Kumpulan secara sistematik. Oleh itu, Kumpulan akan dapat merangka pelan strategik dan sistematik untuk menangani risiko-risiko tersebut dengan berkesan. Lembaga Pengarah telah memulakan rangka kerja Enterprise Risk Management System (ERM) yang merangkumi perkara-perkara berikut: Struktur Penyeliaan yang sesuai Polisi Pengurusan Risiko Parameter Risiko Proses dan mekanisme bagi mengenalpasti risiko Pemprofilan Risiko Penilaian dan cadangan penyelesaian risiko Mekanisme Laporan

Sistem ini akan dipantau dan diteliti secara berkala oleh Jawatankuasa Audit dan Jawatankuasa Kewangan dan Pengurusan Risiko. Profesionalisma Dan Kecekapan Staf Staf diberi digalakkan menjadikan hakmilik dan akauntibiliti sepenuhnya ke atas mekanisma kawalan individu dalam bidang kerja masing-masing. Prestasi staf dinilai secara tahunan berdasarkan Kunci Indikator Prestasi (KPI) dan kompetensi. Syarikat telah menyediakan bajet yang mencukupi bagi menyediakan latihan dan program pembangunan untuk meningkatkan nilai-nilai yang positif dan menggalakkan budaya kerja yang cekap dalam pelbagai lapangan, semangat kerja berpasukan, kerjasama dan komitmen yang padu ke arah mencapai objektif organisasi.

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PENELITIAN KE ATAS PENYATA BERKAITAN KAWALAN DALAMAN OLEH JABATAN AUDIT DALAM DAN JURUAUDIT LUAR

Kedua-dua Jabatan Audit Dalam dan Juruaudit Luar telah meneliti dan mengesahkan bahawa Penyata Berkaitan Kawalan Dalam ini boleh dimasukkan dalam Laporan Tahunan Kumpulan bagi tahun kewangan berakhir 31 Disember 2009 selaras dengan Perenggan 15.26 (b) Kehendak-kehendak Penyenaraian Pasaran Utama. Lembaga Pengarah berpendapat sistem kawalan dalaman telah ada bagi tahun kewangan yang dinilai dan sehingga pengeluaran Laporan Tahunan dan Penyata Kewangan ini, ianya adalah mencukupi untuk menjaga kepentingan pelaburan, para pemegang saham, pelanggan, badan kawalselia dan pekerja serta aset Kumpulan. Penyata ini dibuat selaras dengan Resolusi Lembaga Pengarah bertarikh 25 Februari 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Pengerusi

Dato' Seri Dr. Hj. Arshad bin Hashim Pengarah Bebas

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BOARD COMMITTEE REPORT

LAPORAN TAHUNAN 2009 ANNUAL REPORT

There are four (4) committees set up by the Board, namely, Audit Committee, Finance & Risk Management Committee, Nomination Committee and Remuneration Committee with the function of assisting the Board in decision-making on matters tabled to the Board. The role of each committee is to deliberate, discuss and recommend to the Board on matters tabled at committee's level. The confirmed minutes of the Committees shall then be circulated to all Board members in order to give opportunity to any members of the Board who did not sit as members of the respective committees to seek any clarification, raise any query or view on the matters discussed. The composition and performance of the members in each Committee were evaluated, reviewed and analysed by the Nomination Committee and where necessary, the composition will be re-organised in order to give all the Directors the opportunity sitting in the respective Board Committees as well as to ensure the effectiveness of the said Committees.

AUDIT COMMITTEE

The role of the Audit Committee is to assist the Board in fulfilling its fiduciary responsibilities vested by the Board. The details of the Audit Committee's composition, roles, responsibilities and number of meetings held during the financial year are provided on page 80 to 83 of this Annual Report.

FINANCE & RISK MANAGEMENT COMMITTEE

The Terms of Reference of this Committee is to review, adopt and oversee the conduct of the Group's business and financial affairs, identify the financial risks, reviewing the Group's Annual Budget and the variances of actual results against the approved budget and forecasted budget. Also to review the capital expenditure for projects, business acquisitions and investment appraisals undertaken by the Company, review and recommend to the Board all financial result of the Company and recommend to the Board measures to be undertaken in order to enhance its profitability. This Committee also monitored and reviewed regularly the overall risk profile of the Group. COMPOSITION Dato' Shamsul Azhar bin Abbas - Chairman Non-Independent Non-Executive Director

(Chairman until 28/04/09)

MEETING ATTENDENCE [-]

Ahmad Nizam bin Salleh - Chairman Non-Independent Non-Executive Director

(Appointed as Chairman on 28/05/09)

[2/2]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Member Non-Independent Non-Executive Director Datu Hj. Abang Halmi bin Ikhwan - Member Independent Non-Executive Director Dato' Seri Dr. Hj. Arshad bin Hashim - Member Independent Non-Executive Director

(Appointed as Member on 28/05/09)

[1/2] [1/2]

[2/2]

Dato' Mohamad Norza bin Zakaria - Member Non-Independent Non-Executive Director

(Member until 27/08/09)

[2/2]

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NOMINATION COMMITTEE

The function of this Committee is to recommend to the Board, candidates for all directorships to the Board, appointment, promotion and renewal of the Chief Executive Officer and Senior Management of the Group, reviewing the skills, experience and other qualities including the core competencies of the Non-Executive Directors, annually assessing the effectiveness of the Board as a whole, the committees of the Board and assessing the contribution of each individual director. For the year 2009, the composition of the Board Committees has been reviewed and organized accordingly. COMPOSITION Dato' Seri Dr. Hj. Arshad bin Hashim - Chairman Independent Non-Executive Director

(Chairman until 28/05/09)

MEETING ATTENDENCE [2/2]

Datu Hj. Abang Halmi bin Ikhwan - Chairman Independent Non-Executive Director

(Appointed as Chairman on 28/05/09)

[2/2]

Datuk Hashim bin Ismail - Member Independent Non-Executive Director

(Member until 28/05/09)

[2/2]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Member Non-Independent Non-Executive Director

(Appointed as Member on 28/05/09)

[2/2]

Amir Hamzah bin Azizan - Member Non-Independent Non-Executive Director

(Appointed as Member on 27/08/09)

[-]

Tun Dato' Seri Hj. Mohd Eusoff bin Chin - Member Non-Independent Non-Executive Director

(Member until 31/10/09)

[4/4]

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah - Member Non-Independent Non-Executive Director

(Appointed as Member on 01/11/09)

[-]

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LAPORAN TAHUNAN 2009 ANNUAL REPORT

REMUNERATION COMMITTEE

This Committee has the role of reviewing, discussing and making all recommendations in respect of the executive as well as non executive director's remunerations, Human Resources Policies including Terms and Conditions of Services of both the Chief Executive Officer and Senior Management of the Group. The Committee shall ensure that the Executive Directors shall play no part in decision making of their own remuneration. COMPOSITION Datuk Hashim bin Ismail - Chairman Independent Non-Executive Director Dato' Shamsul Azhar bin Abbas - Member Non-Independent Non-Executive Director

(Member until 28/04/09)

MEETING ATTENDENCE [3/3]

[1/1]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Member Non-Independent Non-Executive Director

(Member until 28/05/09)

[1/1]

Datuk Fong Joo Chung - Member Non-Independent Non-Executive Director

(Appointed as Member on 28/05/09)

[2/2]

Ahmad Nizam bin Salleh - Member Non-Independent Non-Executive Director

(Appointed as Member on 28/05/09)

[1/2]

Tun Dato' Seri Hj. Mohd Eusoff bin Chin - Member Non-Independent Non-Executive Director

(Member until 31/10/09)

[3/3]

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah - Member Non-Independent Non-Executive Director

(Appointed as Member on 01/11/09)

[-]

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LAPORAN JAWATANKUASA LEMBAGA PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Terdapat empat (4) Jawatankuasa yang telah ditubuhkan oleh Lembaga Pengarah, iaitu Jawatankuasa Audit, Jawatankuasa Kewangan & Pengurusan Risiko, Jawatankuasa Penamaan dan Jawatankuasa Ganjaran berfungsi membantu Lembaga Pengarah membuat keputusan ke atas perkara yang dibentangkan dalam Lembaga Pengarah. Peranan setiap Jawatankuasa adalah untuk membincang dan memperakukan kepada Lembaga Pengarah perkara-perkara yang dibentangkan di peringkat Jawatankuasa. Minit mesyuarat Jawatankuasa yang telah disahkan akan diedarkan kepada semua ahli Lembaga Pengarah untuk memberi peluang kepada mana-mana ahli Lembaga Pengarah yang tidak menjadi Ahli Jawatankuasa bertanya soalan dan memberi pendapat ke atas perkara yang dibincangkan. Komposisi dan prestasi setiap Ahli Jawatankuasa akan dinilai, dikaji dan dianalisa oleh Jawatankuasa Penamaan dan dimana perlu, komposisi berkenaan akan disusun semula bagi memberi peluang kepada para Pengarah menganggotai Jawatankuasa Lembaga Pengarah serta memastikan keberkesanan Jawatankuasa tersebut.

JAWATANKUASA AUDIT

Peranan Jawatankuasa Audit adalah untuk membantu Lembaga Pengarah dalam melaksanakan tanggungjawab fidusiari yang terletak pada Lembaga Pengarah. Maklumat lanjut berkaitan komposisi, peranan, tanggungjawab dan jumlah mesyuarat yang diadakan dalam tahun kewangan ini adalah sepertimana di mukasurat 84 hingga 87 pada Laporan Tahunan.

JAWATANKUASA KEWANGAN & PENGURUSAN RISIKO

Terma Rujukan Jawatankuasa ini adalah mengkaji, menerima dan memantau perilaku perniagaan dan hal ehwal kewangan Kumpulan, mengenalpasti risiko kewangan, mengkaji belanjawan tahunan Kumpulan dan perbezaan di antara perbelanjaan sebenar berbanding belanjawan yang diluluskan dan unjuran belanjawan. Selain itu, meneliti perbelanjaan modal bagi projek, pengambilalihan perniagaan dan penilaian pelaburan yang dilaksanakan oleh Syarikat, meneliti dan memperakukan kepada Lembaga Pengarah semua keputusan yang melibatkan kewangan Syarikat serta memperakukan kepada Lembaga Pengarah langkah-langkah yang perlu diambil bagi meningkatkan keuntungan. Jawatankuasa ini juga memantau dan meneliti profil risiko Kumpulan secara keseluruhan. KOMPOSISI Dato' Shamsul Azhar bin Abbas - Pengerusi Pengarah Bukan Bebas Bukan Eksekutif

(Pengerusi sehingga 28/04/09)

KEHADIRAN MESYUARAT [-]

Ahmad Nizam bin Salleh - Pengerusi Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Pengerusi pada 28/05/09)

[2/2]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Ahli Pengarah Bukan Bebas Bukan Eksekutif Datu Hj. Abang Halmi bin Ikhwan - Ahli Pengarah Bebas Bukan Eksekutif Dato' Seri Dr. Hj. Arshad bin Hashim - Ahli Pengarah Bebas Bukan Eksekutif

(Dilantik sebagai Ahli 28/05/09)

[1/2] [1/2]

[2/2]

Dato' Mohamad Norza bin Zakaria - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Ahli sehingga 27/08/09)

[2/2]

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LAPORAN JAWATANKUASA LEMBAGA PENGARAH

LAPORAN TAHUNAN 2009 ANNUAL REPORT

JAWATANKUASA PENAMAAN

Fungsi Jawatankuasa ini adalah untuk memperakukan kepada Lembaga Pengarah, calon-calon yang akan dilantik sebagai pengarah, perlantikan, kenaikan pangkat dan pembaharuan perkhidmatan Ketua Pegawai Eksekutif serta Pengurusan Kanan Kumpulan, mengkaji kemahiran, pengalaman dan kualiti-kualiti yang ada termasuk kompetensi utama para Pengarah Bukan Eksekutif, menilai secara tahunan keberkesanan Lembaga Pengarah secara keseluruhan, Jawatankuasa Lembaga Pengarah dan menilai sumbangan setiap individu pengarah. Bagi tahun 2009, komposisi Jawatankuasa Lembaga Pengarah telah dikaji dan disusun semula sewajarnya. KOMPOSISI Dato' Seri Dr. Hj. Arshad bin Hashim - Pengerusi Pengarah Bebas Bukan Eksekutif

(Pengerusi sehingga 28/05/09)

KEHADIRAN MESYUARAT [2/2]

Datu Hj. Abang Halmi bin Ikhwan - Pengerusi Pengarah Bebas Bukan Eksekutif

(Dilantik sebagai Pengerusi pada 28/05/09)

[2/2]

Datuk Hashim bin Ismail - Ahli Pengarah Bebas Bukan Eksekutif

(Ahli sehingga 28/05/09)

[2/2]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Ahli pada 28/05/09)

[2/2]

Amir Hamzah bin Azizan - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Ahli pada 27/08/09)

[-]

Tun Dato' Seri Hj. Mohd Eusoff bin Chin - Ahli Pengarah Bebas Bukan Eksekutif

(Ahli sehingga 31/10/09)

[4/4]

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Ahli pada 01/11/09)

[-]

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JAWATANKUASA GANJARAN

Jawatankuasa ini berperanan meneliti, membincang dan membuat perakuan ke atas ganjaran para pengarah eksekutif dan juga bukan eksekutif, Polisi Sumber Manusia termasuk terma dan syarat perkhidmatan Ketua Pegawai Eksekutif serta Pengurusan Kanan Kumpulan. Jawatankuasa akan memastikan bahawa Pengarah Eksekutif tidak terlibat dalam membuat keputusan ke atas ganjarannya. KOMPOSISI Datuk Hashim bin Ismail - Pengerusi Pengarah Bebas Bukan Eksekutif Dato' Shamsul Azhar bin Abbas - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Ahli sehingga 28/04/09)

KEHADIRAN MESYUARAT [3/3]

[1/1]

Tan Sri Dato' Seri Hj. Mohd. Zahidi bin Zainuddin - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Ahli sehingga 28/05/09)

[1/1]

Datuk Fong Joo Chung - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Ahli pada 28/05/09)

[2/2]

Ahmad Nizam bin Salleh - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai Ahli pada 28/05/09)

[1/2]

Tun Dato' Seri Hj. Mohd Eusoff bin Chin - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Ahli sehingga 31/10/09)

[3/3]

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah - Ahli Pengarah Bukan Bebas Bukan Eksekutif

(Dilantik sebagai ahli pada 01/11/09)

[-]

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AUDIT COMMITTEE REPORT

(PURSUANT TO CHAPTER 15, PART C, PARA 15.15 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

This report reflects the ways the Committee served to implement and support the oversight function of the Board in line with Chapter 15, Part C, Paragraph 15.15 of the Main Market Listing Requirements (Main Market LR). The general objective of the Committee is to ensure the adequacy and effectiveness of the Company's system of internal control and the quality of performances in carrying out the assigned responsibilities.

i.

MEMBERS OF THE AUDIT COMMITTEE

Chairman Datu Hj. Abang Halmi bin Ikhwan Independent Non-Executive Director

(Chairman until 28/05/2009)

Dato' Seri Dr. Hj. Arshad bin Hashim Independent Non-Executive Director

(Member until 27/05/2009) (Appointed as Chairman on 28/05/2009)

Members Datuk Hashim bin Ismail Independent Non-Executive Director

(Appointed as Member on 28/05/2009)

Dato' Mohamad Norza bin Zakaria Non-Independent Non-Executive Director

ii. COMPOSITION OF AUDIT COMMITTEE

By virtue of Para 15.09 of Main Market Listing Requirements, the appointment of the Audit Committee must be from amongst its Directors that fulfils the following requirements: (i) (ii) The Audit Committee must be composed of no fewer than 3 members; All the Audit Committee members must be non-executive directors with a majority of the Audit committee must be Independent Directors; and (iii) At least one member of the Audit Committee must be a member of the Malaysian Institute of Accountants (MIA). In accordance with Chapter 15, Part C, Para 15.09 (1) (c) (i), Dato' Mohamad Norza bin zakaria fulfills such requirement where he is a holder of an accounting qualification and is a member of the Malaysian Institute of Accountants (MIA). All other members have working familiarity with basic finance and accounting practices.

iii TERMS OF REFERENCE OF THE AUDIT COMMITTEE

Para 15.15 (3) (b) of Main Market Listing Requirements provides that the Audit Committee Report must include the terms of reference of the Audit Committee. Authority The Committee is authorized to do all things necessary to fulfill its responsibilities as vested upon it by virtue of its appointment by the Board and such other special authorities specifically vested by the Board from time to time. The Committee is also authorized to regulate the manner of proceedings of its meetings having regard to normal conventions on such matter.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Duties and Responsibilities The Committee shall assist the Board in fulfilling fiduciary responsibilities as to accounting policies and reporting practices of the Company and its subsidiaries and the sufficiency of auditing relating thereto. The duties and responsibilities of the Audit Committee encompassed review of the following: i. To review: a. b. The audit plans; The audit reports and associated financial statements, to make appropriate decisions and determines specific actions to ensure that the Company's operations and management comply with policies, plans, procedures, laws and regulations having jurisdiction over or significant impact on the same; The proposal for the appointment of External Auditor and to make recommendations on the terms of such appointment.

c. ii. iii.

To investigate or cause to be investigated any activity within its terms of reference; and To review procedures and disclose recurrent related party transactions of revenue or trading nature. The Committee ensures that all procedures on recurrent related party transactions are reviewed and disclosure on the related party transactions is made accordingly. All transactions in respect of recurrent related party are conducted on arm's length basis and based on normal commercial terms which are consistent and not favourable to the related parties than those generally available to the public. The Committee also ensures that the recurrent related party transactions are not detrimental to the minority shareholders of the Company.

iv. MEETINGS AND ATTENDANCE

Meetings The Committee shall meet not less than four (4) times a year, at times to be decided by the Audit Committee and the Report shall include the number of meetings held during the financial year. The quorum for the meeting shall be two (2). The report of the Audit Committee shall include the number of meetings held during the financial year. The Audit Committee meetings review the Quarterly Reports relating to the financial results for approval of the Board prior to announcing to Bursa Malaysia. The Committee also review and approved the Internal Audit Plan, Internal Audit Reports and the Financial Statements. The Company Secretary is appointed by the Committee to act as the Secretary of the Committee. Notices of meetings are circulated to members well before the meeting dates. The Committee also receives full agendas, reports and proposal papers for deliberation with sufficient time for understanding and preparing for the meetings. During the financial year ended 31st December 2009, the Audit Committee met five (5) times as per calendar for the year. Details of the meetings are as follow:

BINTULU PORT HOLDINGS BERHAD (380802-T)

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AUDIT COMMITTEE REPORT

(PURSUANT TO CHAPTER 15, PART C, PARA 15.15 OF THE MAIN MARKET LISTING REqUIREMENTS)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

No. of Meeting 1/2009 2/2009 3/2009 4/2009 5/2009 Attendance

Date of Meeting 25/02/09 12/03/09 27/05/09 25/08/09 16/11/09

Time 11.00 am 2.30 pm 9.00 am 9.00 am 9.00 am

Place Marriott Putrajaya Le Meridien, Kota Kinabalu Marriott Putrajaya Marriott Putrajaya Marriott Putrajaya

The record of attendance of the members of the Audit Committee during the financial year 2009 is as follows: COMPOSITION Datu Hj. Abang Halmi bin Ikhwan - Chairman Independent Non-Executive Director (Chairman until 28/05/09) Dato' Seri Dr. Hj. Arshad bin Hashim - Chairman Independent Non-Executive Director (Member until 27/05/09) (Appointed as Chairman on 28/05/09) Dato' Mohamad Norza bin Zakaria - member Non-Independent Non-Executive Director Datuk Hashim bin Ismail - Member Independent Non-Executive Director (Appointed as Member on 28/05/2009) MEETING ATTENDENCE [3/3]

[5/5]

[5/5]

[2/2]

v. SUMMARY OF ACTIVITIES IN 2009

The Audit Committee carried out its duties as defined in the Terms of Reference thereto. Below are the summary of the Audit Committee activities as at 31st of December 2009: i. ii. Discuss the Internal Audit plans and agenda, result of their evaluation as reflected in the auditor's reports. Review the Audit Planning Memorandum and Management letter relating to audit and updates on primarily Corporate Governance and Internal Control Statements, statutory and regulatory requirement, compliance with accounting and auditing standards, and other business outline together with the External Auditor. Reviewed audited financial statements together with the External Auditor purposely for the Board consideration and approval prior to announcement to Bursa Malaysia. Besides, to review the report presented and considered the significant audit findings and recommendation as well as management's responses to the audit findings. Review the appointment of External Auditor and proposed recommendation to the Board.

iii.

iv.

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vi. INTERNAL AUDIT FUNCTION

The Internal Audit function is to provide the Audit Committee and the Board with the confidence it requires in regards to the adequacy, transparency and integrity of the system of internal controls which includes carrying out auditing works at all units and operations of the Group and its subsidiaries. In terms of activities and operations, the Internal Audit Department is independent in nature, thus its primary responsibility is to provide the Audit Committee with independent and objective reports on the state of internal controls, risk management, governance processes and the extent of compliance to the Group's established policies and procedures and even the relevant statutory requirements. The frequency of reporting shall be made in a quarterly basis or as and when the Committee met, in accordance with the audit plan. The Audit Committee has an essential role in developing Internal Audit's value and efficiency by ensuring the Internal Audit Department is independent from the management. Not only being independent, the Internal Audit Department also provides reasonable assurance to all levels of management concerning the overall control over assets and the effectiveness of the system of internal controls, to ensure the Company achieves overall objectives on all operating units and subsidiaries. As at 31st December 2009, the Internal Audit manage to perform its responsibility with independence, proficiency and due professional care so as to give assurance to the Board on the capability in controls and reliability of the systems in the Group.

vii. EXTERNAL AUDIT FUNCTION

The External Auditor has worked together with Group Internal Audit to review any audited/unaudited financial reports and provide the non-audit service as to review the Statement on Internal Control and Statement on Corporate Governance for the Group. The details is spell out in the Statement of Corporate Governance on page 56. The Audit Committee has received and acknowledged the information given on the nature of such services, and believes that such engagement will not impair the independence of the External Auditor.

BINTULU PORT HOLDINGS BERHAD (380802-T)

83

LAPORAN JAWATANKUASA AUDIT

(SELARAS DENGAN CHAPTER 15, PART C, PERENGGAN 15.15 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Laporan ini menggambarkan cara-cara Jawatankuasa bertindak, melaksanakan dan menyokong fungsi Lembaga Pengarah selaras dengan peruntukan Chapter 15, Part C, Perenggan 15.15 Kehendak-Kehendak Penyenaraian Pasaran Utama. Objektif Jawatankuasa ini adalah memastikan kecukupan dan keberkesanan sistem kawalan dalaman dan kualiti prestasi dalam melaksanakan tugasan yang diberi.

i.

KEAHLIAN JAWATANKUASA AUDIT

Pengerusi Datu Hj. Abang Halmi bin Ikhwan Pengarah Bebas Bukan Eksekutif

(Pengerusi sehingga 28/05/2009)

Dato' Seri Dr. Hj. Arshad bin Hashim Pengarah Bebas Bukan Eksekutif

(Ahli sehingga 27/05/2009) (Dilantik sebagai Pengerusi pada 28/05/2009)

Ahli Datuk Hashim bin Ismail Pengarah Bebas Bukan Eksekutif

(Dilantik sebagai ahli pada 28/05/2009)

Dato' Mohamad Norza bin Zakaria Pengarah Bukan Bebas Bukan Eksekutif

ii. KOMPOSISI JAWATANKUASA AUDIT

Selaras dengan Perenggan 15.09 pada Kehendak-Kehendak Penyenaraian Pasaran Utama, perlantikan Jawatakuasa Audit hendaklah dari kalangan para Pengarah yang memenuhi keperluan berikut: (i) (ii) Jawatankuasa Audit hendaklah terdiri dari tidak kurang 3 orang ahli; Kesemua ahli hendaklah merupakan Pengarah Bukan Eksekutif dengan majoriti ahli Jawatankuasa Audit terdiri dari Pengarah Bebas; dan (iii) Sekurang-kurangnya seorang dari ahli Jawatankuasa Audit adalah merupakan ahli Institut Akauntan Malaysia (MIA). Dalam memenuhi Chapter 15, Part C, Perenggan 15.09 (1) (c) (i), Dato' Mohamad Norza bin zakaria telah memenuhi keperluan tersebut dimana beliau memiliki kelayakan dalam bidang perakaunan dan adalah merupakan ahli Institut Akauntan Malaysia (MIA). Kesemua ahli mempunyai pengalaman kerja berasas kewangan dan amalan perakaunan.

iii TERMA RUJUKAN JAWATANKUASA AUDIT

Perenggan 15.15 (3) (b) pada Kehendak-Kehendak Penyenaraian Pasaran Utama memperuntukan bahawa Laporan Jawatankuasa Audit mestilah memasukkan Terma Rujukan Jawatankuasa Audit. Kuasa Jawatankuasa ini diberi kuasa melakukan apa jua perkara yang sesuai untuk memenuhi tanggungjawab yang diamanahkan ke atasnya selaras dengan perlantikan oleh Lembaga Pengarah dan apa-apa jua kuasa khas yang dikhususkan keatasnya oleh Lembaga Pengarah dari semasa ke semasa. Jawatankuasa ini juga diberi kuasa mengawal perjalanan mesyuarat dengan mengambilkira norma-norma biasa bagi hal yang demikian.

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Tugas dan Tanggungjawab Jawatankuasa ini akan membantu Lembaga Pengarah melaksanakan tanggungjawab fidusiarinya ke atas polisi perakaunan dan amalan laporan oleh Syarikat dan subsidiarinya serta pengauditan yang mencukupi. Tugas dan tanggungjawab Jawatankuasa Audit meliputi penelitian ke atas perkara berikut: i. Meneliti: a. b. Perancangan Audit; Laporan audit dan penyata kewangan yang berkaitan, membuat keputusan yang sesuai dan menentukan langkah-langkah khusus bagi memastikan operasi dan pengurusan Syarikat mematuhi polisi, pelan, prosidur dan perundangan yang memberi kesan yang mendalam ke atas Syarikat; Cadangan dan perlantikan Juruaudit Luar dan memperakukan terma bagi perlantikan tersebut.

c. ii. iii.

Menyiasat atau mengarah untuk disiasat mana-mana aktiviti yang terkandung dalam Terma Rujukan; dan Meneliti prosidur dan memaklumkan urusniaga berulang pihak berkaitan yang melibatkan hasil atau berbentuk perniagaan. Jawatankuasa Audit akan memastikan kesemua prosidur berkaitan urusniaga pihak berulang diteliti dan dizahirkan sewajarnya. Kesemua transaksi yang melibatkan urusniaga pihak berulang dilaksanakan dengan telus berdasarkan arm's length dan terma komersil biasa yang teratur dan tidak memihak kepada pihak-pihak yang berkenaan berbanding pihak awam. Jawatankuasa juga akan memastikan urusniaga pihak berulang tidak akan menjejaskan pemegang saham minoriti Syarikat.

iv. MESYUARAT DAN KEHADIRAN

Mesyuarat Mesyuarat hendaklah diadakan tidak kurang dari empat (4) kali dalam setahun, pada masa yang akan ditetapkan oleh Jawatankuasa dan Laporan hendaklah menyatakan jumlah mesyuarat yang diadakan dalam tahun kewangan. Korum mesyuarat adalah dua (2). Mesyuarat Jawatankuasa Audit meneliti Laporan Kewangan Suku Tahunan untuk kelulusan Lembaga Pengarah sebelum diumumkan ke Bursa Malaysia. Jawatankuasa ini juga meneliti dan melulus Perancangan Audit Dalaman, Laporan Audit Dalaman dan Penyata Kewangan. Setiausaha Syarikat dilantik oleh Jawatankuasa untuk bertindak sebagai Setiausaha, Jawatankuasa ini. Notis mesyuarat Jawatankuasa diedarkan kepada semua ahli sebelum tarikh mesyuarat. Jawatankuasa juga menerima agenda lengkap, laporan dan kertas cadangan untuk dibincang dengan masa yang mencukupi untuk pemahaman dan persediaan mesyuarat. Bagi tahun kewangan berakhir 31 Disember 2009, Jawatankuasa Audit telah bermesyuarat lima (5) kali. Kesemua mesyuarat yang diadakan adalah sepertimana jadual yang telah dirancangkan sepanjang tahun.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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LAPORAN JAWATANKUASA AUDIT

(SELARAS DENGAN CHAPTER 15, PART C, PERENGGAN 15.15 KEHENDAK-KEHENDAK PENYENARAIAN PASARAN UTAMA)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Bil. Mesyuarat 1/2009 2/2009 3/2009 4/2009 5/2009 Kehadiran

Tarikh Mesyuarat 25/02/09 12/03/09 27/05/09 25/08/09 16/11/09

Masa 11.00 am 2.30 pm 9.00 am 9.00 am 9.00 am

Tempat Marriott Putrajaya Le Meridien, Kota Kinabalu Marriott Putrajaya Marriott Putrajaya Marriott Putrajaya

Rekod kehadiran ahli-ahli Jawatankuasa Audit bagi tahun kewangan 2009 adalah seperti berikut: KOMPOSISI Datu Hj. Abang Halmi bin Ikhwan - Pengerusi Pengarah Bebas Bukan Eksekutif (Pengerusi sehingga 28/05/09) Dato' Seri Dr. Hj. Arshad bin Hashim - Pengerusi Pengarah Bebas Bukan Eksekutif (Ahli sehingga 27/05/2009) (Dilantik sebagai Pengerusi pada 28/05/09) Dato' Mohamad Norza bin Zakaria - Ahli Pengarah Bukan Bebas Bukan Eksekutif Datuk Hashim bin Ismail - Ahli Pengarah Bebas Bukan Eksekutif (Dilantik sebagai Ahli pada 28/05/2009) KEHADIRAN MESYUARAT [3/3]

[5/5]

[5/5]

[2/2]

v. RINGKASAN AKTIVITI BAGI TAHUN 2009

Jawatankuasa Audit melaksanakan tugasnya selaras dengan Terma Rujukannya. Berikut adalah ringkasan aktiviti Jawatankuasa Audit setakat 31 Disember 2009: i. ii. Membincang perancangan dan agenda Audit Dalam, hasil penilaian sepertimana ditunjukkan dalam laporan Juruaudit. Meneliti perancangan audit dan Surat Pengurusan berkaitan audit dan mengemaskini Penyata Berkaitan Urustadbir Korporat dan Penyata Berkaitan Kawalan Dalaman, keputusan statutori dan regulartary, pematuhan kepada piawaian perakaunan dan audit serta lain-lain urusan bersama-sama Juruaudit Luar. Meneliti penyata kewangan yang telah diaudit bersama Juruaudit Luar untuk pertimbangan dan kelulusan Lembaga Pengarah sebelum pengumuman kepada Bursa Malaysia. Selain itu, meneliti laporan yang dibentangkan dan menimbang hasil pengauditan yang penting dan perakuan serta maklumbalas pengurusan ke atas hasil pengauditan tersebut. Meneliti dan memperakukan perlantikan Juruaudit Luar kepada Lembaga Pengarah.

iii.

iv.

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vi. FUNGSI AUDIT DALAM

Fungsi Audit Dalam adalah memberi keyakinan yang diperlukan kepada Jawatankuasa Audit dan Lembaga Pengarah dari segi ketelusan, kecukupan dan integriti sistem kawalan dalaman termasuk melaksanakan kerja-kerja pengauditan di semua unit operasi Kumpulan dan subsidiarinya. Dari segi aktiviti dan operasinya, Jabatan Audit Dalam adalah bebas, dengan itu tanggungjawab utamanya adalah untuk memberi Jawatankuasa Audit laporan yang bebas dan berobjektif ke atas kawalan dalaman, pengurusan risiko, proses urustadbir dan pematuhan kepada polisi dan prosidur yang diterimapakai diperingkat Kumpulan serta keperluan statutori yang berkaitan. Kekerapan laporan hendaklah dibuat secara suku tahun atau apabila Jawatankuasa bermesyuarat sepertimana terkandung dalam perancangan audit. Jawatankuasa Audit mempunyai peranan utama dalam membangunkan nilai Audit Dalam serta keberkesanannya dengan memastikan Jabatan Audit Dalam bertindak secara bebas dari Pengurusan. Tidak hanya bertindak secara bebas, Jabatan Audit Dalam hendaklah juga memberi pengesahan yang munasabah di semua peringkat Pengurusan berkaitan kawalan keseluruhan ke atas aset-aset dan keberkesanan ke atas sistem kawalan dalaman, memastikan Syarikat mencapai objektif keseluruhannya dan pelbagai audit dalaman ke atas operasi unit dan subsidiari. Sehingga 31 Disember 2009, Audit Dalaman berupaya melaksanakan tanggungjawabnya dengan berkecuali, cekap dan profesional bagi memberi jaminan kepada Lembaga Pengarah keatas keupayaan kawalan dalaman dan integriti sistem tersebut dalam Kumpulan.

vii. FUNGSI AUDIT LUAR

Juruaudit Luar telah bekerjasama dengan Audit Dalaman Kumpulan untuk meneliti mana-mana laporan kewangan yang diaudit/belum diaudit dan memberi perkhidmatan bukan audit bagi meneliti Penyata berkaitan Kawalan Dalaman dan Penyata berkaitan Urustadbir Korporat Kumpulan. Maklumat lanjut boleh diperolehi di Penyata Berkaitan Urustadbir Korporat Kumpulan di mukasurat 66. Jawatankuasa Audit telah menerima dan mengakui maklumat berkaitan perkhidmatan tersebut dan percaya perkhidmatan tersebut tidak akan menjejaskan kebebasan Juruaudit Luar.

BINTULU PORT HOLDINGS BERHAD (380802-T)

87

CORPORATE AND SOCIAL RESPONSIBILITY (CSR)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

The Group is committed in ensuring the sustainability performance of its business operations and in line with such commitment, the Group being the Government Link Companies (GLC) continues to contribute to the nation economic development although it was envisage that the economic downturn would have an impact on the business performance of the Group. Being a good corporate citizen and being part of the community, the Group considered corporate social responsibility as part of doing business. During the year 2009, the Group continued its CSR programmes into four (4) identified core areas, namely the workplace, community, environment and the marketplace.

Work Place

With over 800 employees, the Group emphasize on the staff welfare and continuously provide work place which is conducive for the staff and employees. Several activities and programmes such as induction course, sports and recreational programmes, talks and seminars were organized by the Company purposely to enhance its employee's capability and productivity. Apart from that, the Group also organized Family Day for the staff which is an annual event for strengthening the relationship between the management, staff and families of the staff. The Group had spent RM1.08 million for enhancing human capital. The Group has in place the staff loans such as computer loan, housing loan and car loan for the staff as well as scholarship and educational loan for both the eligible staff and children of the staff of the Group. Not forgetting the importance of teamwork spirit, the Group through its subsidiary, Biport Bulkers Sdn. Bhd. had organised Productive Teambuilding at Taman Negara Similaju which was conducted by Malaysia Productive Corporation (MPC). It is hope that through this programmes, the staff can improve their selfesteem and hence can contribute towards the success of the Group. In order to measure the satisfaction of the employees, the Group conducted employee satisfaction survey (ESS) annually to assess employees' satisfaction towards the Group as a whole. This survey is important to the Group so as to enable the Group to improve its action plan to increase the satisfaction of the employees. Bintulu Port ensures that its safety and health procedures are in placed. Total commitment from the management is essential to promote occupational safety and health in Bintulu Port. Any increase in the productivity and improvement in the workplace environment were results of good safety and health work practices and the adoption of work safety culture.

Community

Bintulu Port consistently continued to support various outreach and community programmes and had spend RM0.3 million for its CSR programmes. Among the programmes held for the year 2009 are as follows: i. ii. iii. iv. v. vi. Handing over two (2) units of Cardioserv Defibrillator and monitor ECG to the Bintulu General Hospital; Giving aid to the flood victims when Bintulu was badly hit by flood due to the heavy monsoon rain; Conduct and organized training, workshops and motivation programmes for the UPSR and PMR Students 2009 in order to achieve good academic result and better future; Collaborate with the Bintulu General Hospital in conducting health talk on the H1N1 pandemic awareness for the employees, port users, agents and customers; Involved in the blood donation programme organized by the Bintulu Hospital; Contributed to the Borneo Kites Festival, Kaul Festival and other programmes thereto.

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Environment

Bintulu Port takes full responsibility in complying with the legislative requirement that relates to safety, health and environment. We have in place a manual for the proper usage and disposal of chemical in line with the provision in the Environmental Quality (EQA) Act 1974. Scheduled wastes such as used oil, batteries and other used components are disposed off in compliance with the relevant Act as part of our commitment to protect the environment. The activities in the port are also monitored on quarterly basis through the internal environmental audit and the environmental monitoring. These reports are vetted by the regulatory authority and the Department of Environment, Kuching. For the year 2009, the Group had spent RM0.4 million for such purpose. Besides, in order to support with CSR voluntary standard, the Company provides continuous assurance that their port operation must comply at all times to the legislative requirement such as OSHA 1994, EQA 1974, FMA 1967 that relates to Health, Safety and Environment.

The Marketplace

The Group carry out activities and events to establish network with the other communities in the market place. In measuring the satisfaction of their customers, the Group conducted the customer satisfaction survey (CSS) annually to assess the performance of the Group as a whole. Further, interfacing sessions with the business fraternities, shareholders, investors and analysts were also held for a better rapport and understanding between the management and the customers.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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TANGGUNGJAWAB SOSIAL KORPORAT (CSR)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Kumpulan adalah komited dalam memastikan kesinambungan prestasi operasi perniagaannya dan selaras dengan komitment tersebut, Kumpulan selaku syarikat yang berkaitan dengan Kerajaan (GLC) terus menyumbang ke arah pembangunan ekonomi walaupun telah dijangka bahawa kemelesetan ekonomi akan memberi kesan kepada prestasi perniagaan Kumpulan. Selaku rakyat yang mempunyai tanggungjawab korporat yang baik dan sebagai sebahagian dari masyarakat, Kumpulan menganggap tanggungjawab sosial korporat adalah sebahagian dari perniagaannya. Dalam tahun 2009, Kumpulan meneruskan program tanggungjawab sosial korporatnya dengan menjurus kepada empat (4) perkara utama iaitu, tempat kerja, komuniti, alam sekitar dan pasaran.

Tempat Kerja

Dengan lebih 800 pekerja, Kumpulan memberi penekanan kepada kebajikan staff dan terus menyediakan tempat kerja yang selesa untuk pekerjanya. Pelbagai aktiviti dan program seperti kursus induksi, sukan dan program rekreasi, ceramah dan seminar dianjurkan oleh Syarikat bertujuan meningkatkan keberkesanan produktiviti dan keupayaan pekerjanya. Selain itu, Kumpulan telah menganjurkan Hari Keluarga yang merupakan acara tahunan bagi mengeratkan lagi hubungan silaturrahim di antara Pengurusan, Pekerja dan Keluarga Pekerja. Kumpulan telah mebelanjakan RM1.08 juta bagi meningkatkan modal insan. Kumpulan menyediakan pinjaman kakitangan seperti pinjaman komputer, perumahan dan kenderaan kepada pekerjanya serta biasiswa dan pinjaman pendidikan untuk pekerja dan anak-anak pekerja Kumpulan yang berkelayakan. Tidak lupa akan pentingnya semangat kerja berpasukan, Kumpulan melalui anak syarikatnya, Biport Bulkers Sdn. Bhd. telah menganjurkan Kerjasama Berpasukan yang Produktif di Taman Negara Similaju yang telah dikendalikan oleh Malaysia Productive Corporation (MPC). Adalah menjadi harapan agar program sebegini dapat meningkatkan daya saing dan seterusnya menyumbang ke arah kejayaan Kumpulan. Bagi mengukur tahap kepuasan pekerja secara keseluruhannya, Kumpulan telah membuat kajian kepuasan pekerja (ESS) secara tahunan. Kajian ini adalah penting kepada Kumpulan bagi membolehkan Kumpulan menambahbaik pelan tindakan bagi meningkatkan tahap kepuasan pekerja. Pelabuhan Bintulu memastikan prosidur keselamatan dan kesihatannya berada ditempatnya. Komitmen yang penuh dari Pengurusan adalah penting bagi meningkatkan keselamatan dan kesihatan pekerjaan di Pelabuhan Bintulu. Sebarang peningkatan dalam produktiviti dan penambahbaikan di tempat kerja adalah hasil dari amalan keselamatan dan kesihatan yang baik di tempat kerja dan penerimaan budaya kerja yang selamat.

Komuniti

Pelabuhan Bintulu sentiasa konsisten dalam meneruskan pelbagai sokongan program komuniti dan telah mebelanjakan RM0.3 juta untuk program tanggungjawab sosial korporatnya. Antara program yang telah diadakan dalam tahun 2009 adalah seperti berikut: i. ii. iii. Penyerahan dua (2) unit Cardioserv Defibrillator dan monitor ECG kepada Hospital Bahagian, Bintulu; Memberi pertolongan kepada mangsa banjir di Bintulu apabila Bintulu dilanda banjir berikutan hujan lebat akibat angin monsun; Mengendalikan latihan, bengkel dan program motivasi untuk para pelajar yang akan menduduki peperiksaan UPSR dan PMR pada tahun 2009 bagi membolehkan mereka mencapai keputusan yang cemerlang dan masa depan yang cerah;

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iv. v. vi.

Bekerjasama dengan Hospital Bahagian Bintulu dalam menganjurkan ceramah kesihatan bagi meningkatkan tahap kesedaran ke atas pandemik H1N1 untuk pekerjanya, pengguna pelabuhan, agen dan pelanggan; Terlibat dalam program derma darah yang dianjurkan oleh Hospital Bahagian Bintulu; Menyumbang untuk Pesta Layang-layang Borneo, Pesta Kaul dan lain-lain program.

Alam Sekitar

Pelabuhan Bintulu mengambil tanggungjawab sepenuhnya dalam mematuhi keperluan perundangan yang berkaitan dengan kesihatan, keselamatan dan alam sekitar. Kami mempunyai buku panduan yang sesuai bagi mengendalikan penggunaan dan pembuangan bahan kimia selaras dengan peruntukan Akta Alam Sekitar (EQA), 1974. Sebagai sebahagian dari komitmen kami dalam menjaga alam sekitar, pembuangan pepejal seperti minyak, bateri dan lain-lain komponen dibuat selaras dengan pematuhan kepada Akta. Aktiviti-aktiviti di Pelabuhan dipantau secara suku tahunan melalui audit alam sekitar yang dibuat secara dalaman dan juga pemantauan ke atas alam sekitar. Laporan-laporan audit dalaman ini akan diteliti oleh pihak berkuasa dan Jabatan Alam Sekitar (JAS), Kuching. Bagi tahun 2009, Kumpulan telah membelanjakan sebanyak RM0.4 juta untuk tujuan tersebut. Selain itu, dalam usaha menyokong piawaian tanggungjawab sosial korporat secara sukarela, Syarikat menyediakan jaminan yang berterusan bahawa operasi Pelabuhan sentiasa mematuhi keperluan peruntukan perundangan yang ada seperti OSHA 1994, EQA 1974, FMA 1967 yang berkaitan dengan Kesihatan, Keselamatan dan Alam Sekitar.

Pasaran

Kumpulan melaksanakan aktiviti-aktiviti dan acara-acara bagi mewujukan hubungan dengan komuniti lain di pasaran. Dalam mengukur tahap kepuasan pelanggannya, Kumpulan telah mengadakan kajian kepuasan pelanggan (CSS) yang dibuat secara tahunan bagi menilai tahap prestasi Kumpulan secara keseluruhannya. Di samping itu, sesi perjumpaan dengan pelanggan perniagaan, pemegang saham, pelabur dan penganalisa saham juga diadakan bagi mewujudkan hubungan yang erat dan persefahaman di antara Pengurusan dan Pelanggan.

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PROFILE OF BINTULU PORT SDN. BHD. (BPSB) PROFIL BINTULU PORT SDN. BHD. (BPSB)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

BINTULU PORT SDN. BHD. Board of Directors Lembaga Pengarah

Dato' Shamsul Azhar bin Abbas Chairman Pengerusi

(Director cum Chairman until 28/04/09 Pengarah merangkap Pengerusi sehingga 28/04/09)

Datuk Fong Joo Chung Chairman Pengerusi

(Appointed as Director cum Chairman on 28/04/09 Dilantik sebagai Pengarah merangkap Pengerusi pada 28/04/09)

Datuk Hashim bin Ismail Director Pengarah

(Appointed as Director on 01/10/09 Dilantik sebagai Pengarah pada 01/10/09

Amir Hamzah bin Azizan Director Pengarah

(Appointed as Director on 28/04/09 Dilantik sebagai Pengarah pada 28/04/09)

Company Secretary Setiausaha Syarikat Nik Abd Rahman bin Nik Ismail (LS. 005892) Place Of Incorporation Tempat Diperbadankan Incorporated in Malaysia Diperbadankan di Malaysia Registered Office Pejabat Berdaftar Lot 15, Block 20, Kemena Land District 12th Mile, Tanjung Kidurong Road 97008 Bintulu, Sarawak Tel : +6086-291001 (30 Lines Talian) Fax : +6086-253597/251578 Company No. / No. Syarikat : 254396-V http://www.bintuluport.com.my

Auditors Juruaudit Messrs. Ernst & Young Chartered Accountants Akauntan Bertauliah Principal Banker Bank Utama Malayan Banking Berhad

OPERATIONAL & FINANCIAL HIGHLIGHTS PETUNJUK PENTING OPERASI & KEWANGAN

BINTULU PORT SDN. BHD. 2009

Cargo Throughput (Million Tonnes) Kendalian Kargo (Juta Tan) Container Handled (TEUs) Kendalian Kontena (TEUs) Vessel Calls Singgahan Kapal Turnover (RM Million) Perolehan (RM Juta) Profit Before Taxation (RM Million) Keuntungan Sebelum Cukai (RM Juta) Paid-up Capital (RM million) Modal Berbayar (RM juta) Total Shareholders' Fund (RM Million) Dana Pemegang Saham (RM Juta) Dividend Paid (Net) (RM Million) Dividen Dibayar (Bersih) (RM Juta) Gross Dividend Rate (Sen) Kadar Dividen Kasar (Sen)

2008 40.47 290,167 7,015 434.57 195.70 65.00 622.84 163.06 339

2007 38.58 251,800 6,007 411.49 182.42 65.00 643.16 160.86 339

2006 36.51 199,704 6,024 385.54 170.42 65.00 672.46 87.05 186

2005 36.44 147,800 5,789 382.89 152.62 65.00 695.94 101.56 217

38.44 248,390 7,514 421.86 165.97 65.00 581.03 165.26 339

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BPSB BOARD OF DIRECTORS LEMBAGA PENGARAH BPSB

LAPORAN TAHUNAN 2009 ANNUAL REPORT

DATO' SHAMSUL AZHAR BIN ABBAS Chairman Pengerusi

DATUK FONG JOO CHUNG Chairman Pengerusi

DATUK HASHIM BIN ISMAIL Director Pengarah

AMIR HAMZAH BIN AZIZAN Director Pengarah

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MANAGEMENT OF BINTULU PORT SDN. BHD.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Chief Executive Officer Ketua Pegawai Eksekutif

ANDREW MAT RESSA Senior Manager, Corporate Development Pengurus Kanan, Pembangunan Korprat

HJ. AHMAT BIN NARAWI Senior Manager, Marine Services Pengurus Kanan, Perkhidmatan Laut

IR. HJ. ABDUL NASSER BIN ABDUL WAHAB Senior Manager, Container Terminal Pengurus Kanan, Kontena Terminal

HJ. OMAR BIN HJ.SALLEH Senior Manager, Cargo Handling Services Pengurus Kanan, Perkhidmatan Pengendalian Kargo

GIMA UJI Senior Manager, Health, Safety and Environment Pengurus Kanan, Kesihatan, Keselamatan dan Alam Sekitar

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PENGURUSAN BINTULU PORT SDN. BHD.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

RAMBLI BIN MASHAR Senior Manager, Finance Pengurus Kanan, Kewangan

HOTNI BINTI HJ. BAHARI Senior Manager, Human Resources Management Pengurus Kanan, Pengurusan Sumber Manusia

MANAN BIN ILING (Acting) Senior Manager, Information Technology (Pemangku) Pengurus Kanan, Teknologi Maklumat

HJ. JULKIP BIN HJ. SENO Senior Manager, Technical Services Pengurus Kanan, Perkhidmatan Teknikal

NIK ABD RAHMAN BIN NIK ISMAIL Company Secretary Setiausaha Syarikat (LS. 005892)

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PROFILE OF BIPORT BULKERS SDN. BHD.(BBSB) PROFIL BIPORT BULKERS SDN. BHD. (BBSB)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

BIPORT BULKERS SDN. BHD. Board of Directors Lembaga Pengarah

Dato' Seri Dr. Hj. Arshad bin Hashim Chairman Pengerusi Dato' Mohamad Norza bin Zakaria Director Pengarah

(Appointed as Director on 01/10/09 Dilantik sebagai Pengarah pada 01/10/09)

Datu Hj. Abang Halmi bin Ikhwan Director Pengarah

(Appointed as Director on 01/10/09 Dilantik sebagai Pengarah pada 01/10/09)

Datuk Hashim bin Ismail Director Pengarah

(Director until 30/09/09 Pengarah sehingga 30/09/09)

Company Secretary Setiausaha Syarikat Nik Abd Rahman bin Nik Ismail (LS. 005892) Place Of Incorporation Tempat Diperbadankan Incorporated in Malaysia Diperbadankan di Malaysia Registered Office Pejabat Berdaftar Lot 15, Block 20, Kemena Land District 12th Mile, Tanjung Kidurong Road 97008 Bintulu, Sarawak Tel : +6086-255101 Fax : +6086-255117/255114 Company No. / No. Syarikat : 635147-V http://www.bintuluport.com.my

Auditors Juruaudit Messrs. Ernst & Young Chartered Accountants Akauntan Bertauliah Principal Banker Bank Utama Malayan Banking Berhad

OPERATIONAL & FINANCIAL HIGHLIGHTS PETUNJUK PENTING OPERASI & KEWANGAN

Biport Bulkers Sdn. Bhd. 2009 Cargo Throughput (Metric Tonnes) Kendalian Kargo (Metrik Tan) Turnover (RM Million) Perolehan (RM Juta) Profit/(Loss) Before Taxation (RM Million) Keuntungan/(Kerugian) Sebelum Cukai (RM Juta) Paid-up Capital (RM Million) Modal Berbayar (RM Juta) Total Shareholders' Fund (RM Million) Dana Pemegang Saham (RM Juta) 1,860,891 17.19 0.06 40.00 37.35 2008 1,528,436 14.20 2.73 40.00 37.51 2007 388,976 5.68 (1.30) 10.0 4.91 2006 400,619 5.58 (0.97) 10.0 6.34 2005 339,640 3.89 (2.28) 10.0 7.42

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BBSB BOARD OF DIRECTORS LEMBAGA PENGARAH BBSB

LAPORAN TAHUNAN 2009 ANNUAL REPORT

DATO' SERI DR. HJ. ARSHAD BIN HASHIM Chairman Pengerusi

DATO' MOHAMAD NORZA BIN ZAKARIA Director Pengarah

DATU HJ. ABANG HALMI BIN IKHWAN Director Pengarah

DATUK HASHIM BIN ISMAIL Director Pengarah

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MANAGEMENT OF BBSB PENGURUSAN BBSB

LAPORAN TAHUNAN 2009 ANNUAL REPORT

MIOR AHMAD BAITI BIN MIOR LUB AHMAD Chief Executive Officer Ketua Pegawai Eksekutif

NIK ABD RAHMAN BIN NIK ISMAIL Company Secretary Setiausaha Syarikat

SHAMSUDDIN BIN ISMAIL Manager, Operation Pengurus, Operasi

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AWARDS AND RECOGNITIONS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Malaysian Society For Occupational Safety and Health Award (MSOSH)

International Safety Award

LTIF Performance Against Targeted Corporate KPI - LTIF Per Million Manhours (Not More Than 1.0)

KPI - LTI LTIF A nt LTIF Achievement

3. 0 2. 5 2. 0 1. 5 1. 0 0. 5 0. 0 1992 0. 5 0. 5 0. 3 1994 1996 1998 2000 1.6 1. 3 1 1. 1 0.65 0.815 0. 47 0. 63 1 2002 Years 2004 2006 2008

2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.0 2.0 2.0 2.0

1. 42 0. 926

1.8 1.8 1.7

1.7

1. 63 1

0.631 0. 463

1.0

1.0

0. 000 2010 2012

Lost Time Injury Frequency Rate (LTIF)

Historical Achievements Compilation of Manhours Man Hours Without LTI 1st 1 Million Manhours 1st 2 Million Manhours 1st 3 Million Manhours 1st 4 Million Manhours 1st 5 Million Manhours 1st 6 Million Manhours 1st 7 Million Manhours 1st 8 Million Manhours Date Achieve 08th April 1994 25th October 1995 23rd January 1996 11th April 2002 18th March 2008 16th May 2008 16th July 2008 09th September 2008

1 2 3 4 5 6 7 8

Lost Time Injury (LTI)

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AWARDS AND RECOGNITIONS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

NATIONAL AND INTERNATIONAL AWARDS AND RECOGNITIONS

In the year 2009, the Group through its subsidiary, the Bintulu Port Sdn. Bhd. (BPSB) once again was awarded with the MSOSH Occupational Safety and Health ­ Bronze Award for the year 2008 by the Malaysian Society for Occupational Safety and Health. Bintulu Port has received similar awards from Malaysian Society for Occupational Safety and Health for the last 13 consecutive years. In the same year, Bintulu Port has also won a prestigious safety award from the British Safety Council, U.K. for 10 consecutive years. Only companies with below average accident rate are eligible to participate in this award. Winners must have lower than the average accident rate, good safety policies and safety plans and commitment to health and safety at the highest board level. Bintulu Port is the only port in the country that has been conferred with the Malaysian Society of Occupational Safety and Health (MSOSH) Awards and National Safety Award from the British Safety Council, U.K. for sound occupational safety and health performance.

LOST TIME INJURY FREQUENCY RATE (LTIF)

Bintulu Port has a target or Key Performance Indicator (KPI) to monitor its Safety Performance in the form of Lost Time Injury Frequency Rate (LTIF) and Accumulation of Manhours without Lost Time Injury (LTI). The performance of the LTIF is as shown in the table on page 99. The KPI or targeted LTIF is measured based on a benchmark whereby the existing or actual LTIF should not be the same or above the target set. The LTIF benchmark was originally derived from the national and international standard (MSOSH & BSC). The management periodically reviewed this benchmark by setting higher target for each year. The LTIF that is below the targeted LTIF means the company performs a good safety record or in other words, less lost time injury cases or cases involving bodily injury that required a day away from work or sick leave or medical leave. Based on the safety performance statistics since 1994 until now, Bintulu Port has always achieved the preset targets through the institution of various steps/programs to improve the port safety performance. The Health, Safety and Environment Policy is in place to serve as guidance in providing a safe, efficient and high quality port services as well as pollution free environment which meet customer's expectation.

LOST TIME INJURY (LTI)

Bintulu Port had managed to achieve at least on four (4) occasions its targeted Million Man Hours Without Lost Time Injury which started from 1st 5 Million Man Hours Without LTI to 1st 8 Million Man Hours Without LTI. The achievement of the 1st 8 Million Man Hours Without Lost Time Injury (LTI) was achieved on 9th September 2008. The history of the Company's achievements in monitoring Million Man Hours Without Lost Time Injury is as shown in the table on page 99.

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ANUGERAH DAN PENGHARGAAN

LAPORAN TAHUNAN 2009 ANNUAL REPORT

ANUGERAH DAN PENGHARGAAN KEBANGSAAN DAN ANTARABANGSA

Dalam tahun 2009, Kumpulan melalui syarikat subsidiarinya, Bintulu Port Sdn. Bhd. (BPSB) sekali lagi telah dianugerahkan dengan Anugerah Gangsa bagi tahun 2008 dari Pertubuhan Keselamatan dan Kesihatan Pekerja, Malaysia. Pelabuhan Bintulu telah menerima anugerah yang serupa dari Pertubuhan Keselamatan dan Kesihatan Pekerja selama 13 tahun berturut-turut. Dalam tahun yang sama, Pelabuhan Bintulu juga telah menerima anugerah yang berprestij dari British Safety Council, U.K. selama 10 tahun berturut-turut. Hanya syarikat-syarikat yang mempunyai kadar kemalangan yang rendah sahaja yang layak menyertai anugerah ini. Para pemenang mestilah mempunyai kadar kemalangan yang rendah, polisi keselamatan dan pelan keselamatan yang baik serta komitment terhadap kesihatan dan keselamatan di peringkat Lembaga Pengarah yang tertinggi. Pelabuhan Bintulu adalah merupakan satu-satunya Pelabuhan dalam negara yang telah menerima Anugerah dari Pertubuhan Keselamatan dan Kesihatan Pekerja, Malaysia dan British Safety Council, U.K. ke atas prestasi keselamatan dan kesihatan yang baik.

KADAR KEKERAPAN KEHILANGAN MASA KECEDERAAN (LTIF)

Pelabuhan Bintulu mempunyai sasaran atau Kunci Indikator Prestasi (KPI) bagi memantau prestasi keselamatan dalam bentuk Kadar Kekerapan Kehilangan Masa Kecederaan (LTIF) dan pengumpulan Masa Kerja Tanpa Kehilangan Masa Kecederaan (LTI). Prestasi LTIF adalah ditunjukkan pada jadual di mukasurat 99. KPI atau sasaran LTIF ini diukur berdasarkan ukuran dimana LTIF sedia ada atau yang sebenarnya hendaklah tidak sama atau di atas sasaran yang ditetapkan. Ukuran LTIF ini diambil dari piawaian kebangsaan dan antarabangsa (MSOSH & BSC). Ukuran ini juga akan diteliti secara kerap oleh Pengurusan dengan menetapkan sasaran yang tinggi pada setiap tahun. LTIF yang dibawah sasaran bermaksud syarikat telah melaksanakan rekod keselamatan atau dalam erti kata lain, kurangnya kes kadar kekerapan kehilangan masa kecederaan atau kes-kes yang melibatkan kecederaan kepada badan yang memerlukan tidak hadir bekerja atau mempunyai cuti sakit. Berdasarkan statistik prestasi keselamatan semenjak tahun 1994 sehingga sekarang, Pelabuhan Bintulu sentiasa mencapai tahap sasaran yang ditetapkan melalui pelbagai langkah/program untuk meningkatkan tahap prestasi keselamatan Pelabuhan. Polisi Kesihatan Keselamatan dan Alam Sekitar yang ada dijadikan panduan dalam memberi perkhidmatan Pelabuhan yang selamat, berkesan dan tinggi kualitinya serta alam sekitar yang bebas dari pencemaran yang memenuhi kehendak pelanggan.

MASA KERJA TANPA KEHILANGAN MASA KECEDERAAN (LTI)

Pelabuhan Bintulu berjaya mencapai tahap sasaran masa kerja tanpa kehilangan masa kecederaan (LTI) sekurangkurangnya empat (4) kali bermula dari 5 juta yang pertama masa kerja tanpa kehilangan masa kecederaan sehingga 8 juta pertama masa kerja tanpa kehilangan masa kecederaan. Pencapaian 8 juta pertama masa kerja tanpa kehilangan masa kecederaan telah diperolehi pada 9 September 2008. Sejarah pencapaian syarikat dalam memantau masa kerja tanpa kehilangan masa kecederaan adalah ditunjukkan pada jadual di mukasurat 99.

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12 th January 2009

Januari 2009

15 th - 16 th January 2009

Januari 2009

Corporate visit by Miri Airport (MASB) to BPSB A group of staff personnel from Miri Airport (MASB) paid a visit to BPSB on 12th January 2009. Lawatan korporat daripada pihak Lapangan Terbang Miri (MASB) ke BPSB Lawatan oleh sekumpulan kakitangan dari Lapangan Terbang Miri (MASB) ke BPSB pada 12 Januari 2009.

Port Facility Security Officers' Meeting The meeting was kindly hosted by Bintulu Port Authority (BPA) on 15th to 16th January 2009. Security Officers from BPSB and BPA attended this meeting. Mesyuarat Pegawai - Pegawai Keselamatan Pelabuhan Lembaga Pelabuhan Bintulu (LPB) adalah tuan rumah bagi Mesyuarat tersebut yang diadakan pada 15 hingga 16 Januari 2009. Pegawai-Pegawai Keselamatan dari BPSB dan LPB telah menghadiri Mesyuarat tersebut.

29 th January 2009

Januari 2009

CSR - Projek Tanggungjawab Sosial dan Korporat (CSR) 2009 Penyerahan 2 unit Cardoserv Defribillator dan Monitor ECG kepada Hospital Umum Bintulu pada 29 Januari 2009.

CSR - Corporate Social Responsibility Projects 2009 Handing over ceremony of 2 units of Cardioserv Defribillator and Monitor ECG to the Bintulu General Hospital on 29 th January 2009.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

5 th February 2009

Februari 2009

5 th February 2009

Februari 2009

Corporate visit by President and Chief Operation Officer (COO) of Samsung to BPSB The groups from Burel Sdn. Bhd., First London PLC, Linde Engineering, Samsung Engineering and Arkitek Seniformasi paid a visit to BPSB on 5th February 2009. Lawatan Korporat oleh Pengerusi dan Ketua Pegawai Operasi (COO) Samsung ke BPSB Lawatan oleh Burel Sdn. Bhd., First London PLC, Linde Engineering, Samsung Engineering dan Arkitek Seniformasi ke BPSB pada 5 Februari 2009.

Meeting of the 2nd Federation Of Malaysian Port Operating Companies (FMOC) Meeting of the 2nd FMOC was held on 5th February 2009 at Wisma Kontena BPSB. Mesyuarat Persekutuan kali ke-2 untuk SyarikatSyarikat Pengendali Pelabuhan Malaysia (FMOC) Mesyuarat FMOC kali ke-2 telah diadakan pada 5 Februari 2009 di Wisma Kontena BPSB.

6 th February 2009

Farewell Dinner

Februari 2009

9 th February 2009

Februari 2009

The dinner was held at the Regency Plaza Hotel, Bintulu on 6th February 2009. Staff retiring were: ·Encik Abdul Rasid @ Abi Bin Masri ·EncikSupianBinNawi ·EncikAhmadBinMaharop ·EncikAhmadBinHusin Majlis Makan Malam Perpisahan Majlis tersebut telah diadakan di Regency Plaza Hotel Bintulu pada 6 Februari 2009. ·Encik Abdul Rasid @ Abi Bin Masri ·EncikSupianBinNawi ·EncikAhmadBinMaharop ·EncikAhmadBinHusin

Study Tour to BPSB by Students from Faculty of Resource Science and Technology, University Malaysia Sarawak (UNIMAS) On 9th February 2009, 60 students from the Faculty of Resource Science and Technology, UNIMAS made a study tour to Bintulu Port. Lawatan Sambil Belajar oleh Pelajar-Pelajar dari Fakulti Sumber Sains dan Teknologi, Universiti Malaysia Sarawak (UNIMAS) Pada 9 Februari 2009, seramai 60 orang pelajar Pelajar-Pelajar dari Fakulti Sumber Sains dan Teknologi, UNIMAS telah mengikuti lawatan sambil belajar ke Pelabuhan Bintulu.

Antara staf yang bersara:

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CORPORATE HIGHLIGHTS 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

12 th February 2009

Februari 2009

25 th February 2009

Februari 2009

Corporate visit by MLNG and Gladstone LNG to BPSB The group from MLNG and Gladstone LNG, Safety and Security Department paid a visit to BPSB on 12th February 2009. Briefing was given by DSP Elvis on port security and ISPS code. Lawatan Korporat oleh MLNG dan Gladstone LNG ke BPSB Lawatan Korporat oleh Jabatan Keselamatan dan Sekuriti, MLNG dan Gladstone LNG ke BPSB pada 12 Februari 2009. Tetamu telah diberi taklimat oleh DSP Elvis mengenai keselamatan di Pelabuhan dan Kod ISPS.

Visitors from PKE Buyers (BEO) A group from PKE Buyers (Wilmar) from New zealand and Australia paid a visit to BPSB on 25th February 2009. Lawatan oleh PKE Buyers (BEO) Lawatan oleh PKE Buyers (Wilmar) dari New zealand dan Australia ke BPSB pada 25 Februari 2009.

3 rd March 2009

Mac 2009

3 rd April 2009

April 2009

Visit by BPSB Customers BPSB Customers paid a visit to BPSB on 3rd March 2009. Lawatan dari Pelanggan-Pelanggan BPSB Pelanggan-Pelanggan BPSB telah mengadakan lawatan tersebut pada 3 Mac 2009.

BPSB take delivery of 17 units of TERBERG Terminal Tractor 17 units of Terberg Terminal Tractor were delivered to BPSB by Permata Naluri Sdn. Bhd. on 3rd April 2009. Penghantaran 17 unit TERBERG Terminal Tractor 17 unit Terberg Terminal Tractor telah dihantar ke BPSB oleh Permata Naluri Sdn. Bhd. pada 3 April 2009.

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PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

28 th April 2009

April 2009

Mesyuarat Agung Tahunan ke-13 Bintulu Port Holdings Berhad Mesyuarat Agung Tahunan ke-13 Bintulu Port Holdings Berhad telah diadakan di Hilton Kuching pada 28 April 2009.

Bintulu Port Holdings Berhad 13th Annual General Meeting Bintulu Port Holdings Berhad's 13th Annual General Meeting was held at Kuching Hilton on 28th April 2009.

15 th May 2009

Mei 2009

15 th May 2009

Farewell Dinner

Mei 2009

Swearing-In Ceremony for 15 New Port Security Officers This ceremony was held at the Conference Room, Wisma Kontena on the 15th May 2009, witnessed by YDH Ketua Polis Daerah Bintulu. Majlis Angkat Sumpah untuk 15 orang Pegawai Keselamatan Pelabuhan yang baru Majlis ini telah diadakan di Conference Room, Wisma Kontena pada 15 Mei 2009 dan telah disaksikan oleh YDH Ketua Polis Daerah Bintulu.

A dinner was held at Parkcity Everly Hotel on 15th May 2009. Staff retiring were: ·En.HardiBinIbrahim/Hademan ·Hj.AbuBakar ·Hj.WanAdenan Majlis makan malam untuk kakitangan yang bersara Majlis makan malam tersebut telah diadakan di Parkcity Everly Hotel pada 15 Mei 2009. Antara staf yang bersara: ·En.HardiBinIbrahim/Hademan ·Hj.AbuBakar ·Hj.WanAdenan

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CORPORATE HIGHLIGHTS 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

10 th June 2009

Jun 2009

10 th June 2009

Jun 2009

Visit from Japanese Contractors - MLNG guest to BPSB on the 10th June 2009 Corporate briefing was given by Mr. Bo Jow Yung and Captain Jai Kenek (MLNG). Lawatan oleh Kontraktor dari Jepun - tetamu dari MLNG ke BPSB pada 10 Jun 2009 Mereka telah diberi taklimat korporat oleh Encik Bo Jow Yung dan Kapten Jai Kenek (MLNG).

Special Health Briefing (H1N1) Representative from Health Department, Bintulu Division and Safety Office gave a special H1N1 briefing session to help curb the H1N1. This briefing was attended by port users, agents and customers as an early prevention for the H1N1 disease. Taklimat Khas Kesihatan (H1N1) Wakil daripada Jabatan Kesihatan, Bahagian Bintulu dan Pejabat Keselamatan telah memberi sesi taklimat khas mengenai H1N1 sebagai usaha pencegahan penyakit tersebut. Taklimat ini telah dihadiri oleh pengguna-pengguna pelabuhan, agensi-agensi dan para pelanggan.

13 th June 2009

Jun 2009

Visit by Tan Sri Nor Mohamed Yaakop Tan Sri Nor Mohamed Yaakop paid an official visit to Bintulu Port on the 13th June 2009. Lawatan oleh Tan Sri Nor Mohamed Yaakop Lawatan rasmi oleh Tan Sri Nor Mohamed Yaakop ke Pelabuhan Bintulu pada 13 Jun 2009.

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PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

26 th June 2009

Jun 2009

The 14th Annual General Meeting (Koperasi BPSB) The meeting was held on 26th June 2009 at the Conference Room, Wisma Kontena. Mesyuarat Agung Tahunan ke-14 (Koperasi BPSB) Mesyuarat tersebut telah diadakan pada 26 Jun 2009 bertempat di Conference Room, Wisma Kontena.

3 rd July 2009

Julai 2009

13 th July 2009

Julai 2009

Completion of Industry Training A simple ceremony held on 3rd July 2009 marked the completion of the Industry Training for the 16 trainees. Penamatan Latihan Industri Satu majlis ringkas telah diadakan pada 3 Julai 2009 bagi menandakan penamatan Latihan Industri untuk 16 orang pelatih.

Majlis Penganugerahan APC 2009 This ceremony was held at the Conference Room, Wisma Kontena on 13th July 2009. Majlis Penganugerahan APC 2009 Majlis tersebut telah diadakan pada 13 Julai 2009 bertempat di Conference Room, Wisma Kontena.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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CORPORATE HIGHLIGHTS 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

21 st July 2009

Julai 2009

22 nd July 2009

Julai 2009

BPSB Oil Spill and Fire Drill Exercise On 21st July 2009, a Oil Spill and Fire Exercise was held at the Oil Barge Berth. The main objective is to test and access the Overall Emergency Preparedness of BPSB. Latihan ke atas Tumpahan Minyak dan Latihan Kebakaran Latihan tersebut telah diadakan pada 21 Julai 2009 bertempat di Oil Barge Berth. Objektif utama latihan ini adalah untuk menguji dan menilai Kesediaan Kecemasan Keseluruhan BPSB.

Delegates from Kimbely Land Council (KLC) Northern Economic Development Pty. Ltd. (NED) and Petronas delegates to Bintulu Port on 22nd July 2009. Delegasi dari Kimberly Land Council (KLC) Delegasi dari Northern Economic Development Pty. Ltd. (NED) dan Petronas telah mengadakan lawatan ke Pelabuhan Bintulu pada 22 Julai 2009.

4 th August 2009

Ogos 2009

Lawatan Rasmi oleh Timbalan Menteri Pengangkutan Datuk Abdul Rahim bin Bakri telah mengadakan lawatan rasmi ke Pelabuhan Bintulu pada 4 ogos 2009. Beliau telah diberi taklimat ringkas oleh Pengurus Besar, Lembaga Pelabuhan Bintulu (LPB) dan Pengurus Kanan, Pembangunan Korporat, Encik Andrew Mat Ressa bertempat di Wisma Kidurong.

Official visit by Assistant Minister of Transportation Datuk Abdul Rahim bin Bakri paid an official visit to Bintulu Port on the 4th August 2009. He was briefed by the General Manager, Bintulu Port Authority (BPA) and our Senior Manager, Corporate Development, Mr. Andrew Mat Ressa at Wisma Kidurong.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

25 th August 2009

Ogos 2009

26 th August 2009

Ogos 2009

Maiden Call by MV Mell Saraca BPSB welcome MV Mell Saraca to Bintulu Port on 25th August 2009. Singgahan Pertama oleh Mell Saraca BPSB telah mengalu-alukan ketibaan MV Mell Saraca ke Pelabuhan Bintulu pada 25 Ogos 2009.

Visit by Technology Engineering Club of Curtin University Technology Engineering Club of Curtin University visit Bintulu Port on 26th August 2009. Lawatan oleh Kelab Teknologi Kejuruteraan dari Universiti Curtin Lawatan ke Pelabuhan Bintulu oleh Kelab Teknologi Kejuruteraan tersebut telah diadakan pada 26 Ogos 2009.

1 st September 2009

September 2009

8 th September 2009

September 2009

Visit by DCP Dato' Hamza bin Taib Visit by DCP Dato' Hamza bin Taib to Bintulu Port on 1 st September 2009. Lawatan oleh DCP Dato' Hamza Bin Taib DCP Dato' Hamza bin Taib telah mengadakan lawatan ke Pelabuhan Bintulu pada 1 September 2009.

Visit by Asia Minerals Ltd. Hong Kong Visit by Asia Minerals Ltd. Hong Kong with officials from MIDA to BPSB on 8th September 2009. Lawatan oleh Asia Minerals Ltd. Hong Kong Lawatan oleh Asia Minerals Ltd. Hong Kong secara rasmi bersama Pegawai-Pegawai dari MIDA ke BPSB pada 8 September 2009.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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CORPORATE HIGHLIGHTS 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

13 th October 2009

Oktober 2009

16 th October 2009

Oktober 2009

Visit by OSK Research (Investors) Visit by OSK Research (Investors) from Kuala Lumpur to Bintulu Port, on 13th October 2009. Lawatan oleh OSK Research (Pelabur) Lawatan oleh OSK Research (Pelabur) dari Kuala Lumpur ke Pelabuhan Bintulu pada 13 Oktober 2009.

Delegates from Sabah Port Sdn. Bhd. Delegates from Sabah Port Sdn. Bhd. to Bintulu Port, on 16 th October 2009. Delegasi dari Sabah Port Sdn. Bhd. Delegasi Sabah Port Sdn. Bhd. ke Pelabuhan Bintulu pada 16 Oktober 2009.

24 th October 2009

Oktober 2009

Sambutan Hari Jadi Tuan Yang Terutama (TYT) Tun Abang Muhammad Salahuddin Sambutan Hari jadi yang ke-88 Yang di-Pertua Negeri, Tun Abang Muhammad Salahudin di Dewan Suarah Bintulu pada 24 Oktober 2009.

Tuan Yang Terutama (TYT) Tun Abang Muhammad Salahuddin's Birthday Celebration 2009 The 88th birthday celebration of the Yang di-Pertua Negeri, Tun Abang Muhammad Salahuddin at the Civic Centre, Bintulu on 24th October 2009.

110

BINTULU PORT HOLDINGS BERHAD (380802-T)

PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

27 th October 2009

Oktober 2009

30 th October 2009

Visit by MISC Bhd.

Oktober 2009

Visit by MIDA & MEMC (USA) Visit by MIDA & MEMC (USA) to Bintulu Port, on 27th October 2009. Lawatan oleh MIDA & MEMC (USA) Lawatan oleh MIDA & MEMC (USA) ke Pelabuhan Bintulu pada 27 Oktober 2009.

Visit by MISC Bhd. from Kuala Lumpur HQ to Bintulu Port, on 30th October 2009. Lawatan oleh MISC Bhd. Lawatan oleh MISC Bhd. dari Ibu Pejabat Kuala Lumpur ke Pelabuhan Bintulu pada 30 Oktober 2009.

3 rd - 5 th November 2009

November 2009

International Energy Week (IEW 09) Acara tersebut telah diadakan pada 3 hingga 5 November 2009 di New Borneo Convention Centre, Kuching.

International Energy Week (IEW 09) The event was held on 3rd to 5th November 2009, at New Borneo Convention Centre, Kuching.

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CORPORATE HIGHLIGHTS 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

9 th November 2009

November 2009

13 th November 2009

November 2009

Visit by OSH Committee Malaysian Airports Sdn. Bhd. Visit by OSH Committee Malaysian Airports Sdn. Bhd. Sibu Branch on 9th November 2009. Lawatan oleh OSH Committee Malaysia Airports Sdn. Bhd. Lawatan oleh OSH Committee Malaysia Airports Sdn. Bhd. Cawangan Sibu, pada 9 November 2009.

Visit by Bintulu Edible Oils Sdn. Bhd. Visit by Bintulu Edible Oils Sdn. Bhd. to BPSB on 13th November 2009. Lawatan oleh Bintulu Edible Oils Sdn. Bhd. Lawatan oleh Bintulu Edible Oils Sdn. Bhd. ke BPSB pada 13 November 2009.

18 th November 2009

November 2009

Konvokesyen Montessori BPSB yang ke-13 Pada 18 November 2009, Montessori BPSB telah mengadakan konvokesyen ke-13 di Ballroom, Parkcity Everly Hotel.

13th BPSB Montessori Convocation On 18th November 2009, BPSB Montessori held its 13th convocation at the Ballroom of Parkcity Everly Hotel.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

PERISTIWA-PERISTIWA PENTING KORPORAT 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

20 th November 2009

November 2009

Lawatan oleh Pengerusi baru Bintulu Port Holdings Berhad, Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah telah mengadakan lawatan rasmi ke Pelabuhan Bintulu pada 20 November 2009. Kedatangan beliau dialu-alukan oleh KPE BPSB, Encik Mior Ahmad Baiti, pihak pengurusan dan kakitangan Pelabuhan Bintulu.

Visit by Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah, Bintulu Port Holdings Berhad New Chairman Our new Chairman, Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah, made an official visit to Bintulu Port on 20th November 2009. Encik Mior Ahmad Baiti, CEO of BPSB, management and staff of Bintulu Port warmly welcome him.

10 th December 2009

Disember 2009

15 th December 2009

BPSB Blood Donation

Disember 2009

Visit by the participants of `Kem Cuti Sekolah' HIKMAH Participants of `Kem Cuti Sekolah' HIKMAH visit Bintulu Port on 10th December 2009. Lawatan Peserta-Peserta `Kem Cuti Sekolah' HIKMAH Lawatan dari peserta-peserta `Kem Cuti Sekolah' HIKMAH ke Pelabuhan Bintulu pada 10 Disember 2009.

BPSB Blood Donation was held on 15th December 2009. Kempen Derma Darah BPSB Kempen Derma Darah BPSB telah diadakan pada 15 Disember 2009.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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ANALYSIS OF EqUITY STRUCTURE

LAPORAN TAHUNAN 2009 ANNUAL REPORT

1. ANALYSIS OF HOLDINGS AS AT 17th MARCH 2009 ANALISIS PEGANGAN PADA 17 MAC 2009

Size of Shareholdings Saiz Pegangan

SHARE SAHAM

No. of Holders Bil. Pemegang Saham

M'SIAN FOREIGN

No. of Shares Bil. Saham

M'SIAN FOREIGN M'SIAN

%

FOREIGN

1 ­ 99 100 ­ 1,000 1,001 ­ 10,000 10,001 ­ 100,000 100,001 ­ 19,999,999 20,000,000 and Above

Total Jumlah

9 679 705 161 59 3

1,616

1 12 11 10 6 0

40

221 619,300 2,816,200 5,430,950 89,494,700 295,985,900

394,347,271

29 8,700 44,400 288,694 5,310,906 0

5,652,729

0.000 0.154 0.704 1.357 22.373 73.996

98.584

0.000 0.002 0.011 0.072 1.327 0.000

1.412

2. LIST OF TOP THIRTY (30) HOLDERS AS AT 17th MARCH 2009 SENARAI TIGA PULUH (30) PEMEGANG SAHAM TERTINGGI PADA 17 MAC 2009

No Bil Name of Holders Nama Pemegang Saham Shareholdings Pegangan Saham %

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

Cartaban Nominees (Tempatan) Sdn. Bhd. Petroliam Nasional Berhad (Strategic INV) State Financial Secretary Sarawak Kumpulan Wang Persaraan (Diperbadankan) Valuecap Sdn. Bhd. Employees Provident Fund Board MISC Berhad Amanahraya Trustees Berhad Skim Amanah Saham Bumiputera Amanahraya Trustees Berhad Amanah Saham Didik Amanahraya Trustees Berhad Amanah Saham Malaysia Pertubuhan Keselamatan Sosial Amanahraya Trustees Berhad Public Islamic Dividen Fund Amanahraya Trustees Berhad Public Islamic Optimal Growth Fund Mayban Nominees (Tempatan) Sdn. Bhd. Mayban Trustee Berhad For Public Ittikal Fund (N14011970240) TM Asia Life Malaysia Bhd. As Beneficial Owner (PF) HSBC Nominees (Tempatan) Sdn. Bhd. Nomura Asset MGMT Malaysia For Employees Provident Fund

131,171,000 122,701,000 42,113,900 13,580,300 12,480,700 10,619,000 7,351,900 5,404,200 3,731,100 2,960,600 2,689,000 2,456,500 2,320,900 2,320,000 2,216,800

32.792 30.675 10.528 3.395 3.120 2.654 1.837 1.351 0.932 0.740 0.672 0.614 0.580 0.580 0.554

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BINTULU PORT HOLDINGS BERHAD (380802-T)

ANALISIS STRUKTUR EKUITI

LAPORAN TAHUNAN 2009 ANNUAL REPORT

No Bil

Name of Holders Nama Pemegang Saham

Shareholdings Pegangan Saham

%

16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28.

Citigroup Nominees (Tempatan) Sdn. Bhd. Exempt An For American International Assurance Berhad HLG Nominee (Tempatan) Sdn. Bhd. PB Trustee Services Berhad For HLG Growth Fund Amanahraya Trustees Berhad Amanah Saham Wawasan 2020 Amanahraya Trustees Berhad Sekim Amanah Saham Nasional Amanahraya Trustees Berhad Public Islamic Select Treasures Fund Cartaban Nominees (Asing) Sdn. Bhd. DBS Vickers (Hong Kong) Limited For Cheah Cheng Hye Mayban Nominees (Tempatan) Sdn. Bhd. ETIQA Takaful Berhad (Family Fund) Cartaban Nominees (Asing) Sdn. Bhd. SSBT Fund J728 For SPDR S&P Emerging Asia Pacific ETF Lembaga Tabung Haji Shoptra Jaya (M) Sdn. Bhd. Amanahraya Trustees Berhad Public Islamic Equity Fund Amanahraya Trustees Berhad Affin Islamic Equity Fund BHLB Trustee Berhad Public Focus Select Fund Amsec Nominees (Tempatan) Sdn. Bhd. Assar Asset Management Sdn. Bhd. For Tabung Baitulmal Sarawak (Majlis Islam Sarawak) (FM-Assar-TBS) Amanahraya Trustees Berhad Public Islamic Asia Dividend Fund TOTAL / JUMLAH

1,667,100 1,645,000 1,641,800 1,600,000 1,440,300 1,200,000 1,080,500 1,044,906 1,011,800 1,002,000 865,000 813,400 669,200

0.416 0.411 0.410 0.400 0.360 0.300 0.270 0.261 0.252 0.250 0.216 0.203 0.167

29.

631,000

0.157

30.

600,000 381,028,906

0.150 95.257

3. SUBSTANTIAL SHAREHOLDERS AS AT 17th MARCH 2009 PEMEGANG SAHAM UTAMA PADA 17 MAC 2009

No Bil Name of Holders Nama Pemegang Saham Shareholdings Pegangan Saham %

1. 2. 3.

Cartaban Nominees (Tempatan) Sdn. Bhd. Petroliam Nasional Bhd. (Strategic INV) State Financial Secretary Sarawak Kumpulan Wang Persaraan (Diperbadankan) TOTAL / JUMLAH

131,171,000 122,701,000 42,113,900 295,985,900

32.792 30.675 10.528 73.996

BINTULU PORT HOLDINGS BERHAD (380802-T)

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SUMMARY OF EqUIPMENT AND FACILITIES AS AT 17 th MARCH 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Description Keterangan Type Of Berth Jenis Dermaga General Cargo Wharf Dermaga Kargo Am Bulk Cargo Wharf Dermaga Kargo Pukal Container Terminal Terminal Kontena LNG Jetty Jeti GAC LPG Jetty Jeti LPG Petrochemical Terminal - Petroleum Jetty - Oil Barge Berth Coastal Terminal (Gravel Jetty) Edible Oils Terminal Multipurpose Terminal Type Of Storage Jenis Penstoran General Cargo Wharf Wharf Kargo Am - Transit Shed - Warehouses - Open Storage Area - Rigger Warehouse Container Terminal Terminal Kontena - RTG Blocks - RSD Block - Customs Examination Area * - Dangerous Goods Storage * - Reefer Points * - On Dock Depot (ODD) * (Reach Stacker Operations) Type Of Vessels Jenis Kapal Mooring Boat Mooring Boat (Charter) Shiphandling Tug 45 Tons (New) Shiphandling Tug 45 Tons (Old) Shiphandling Tug 45 Tons (Charter) Shiphandling Tug 25 Tons (New) Shiphandling Tug 25 Tons (Old) Aluminium Pilot Boat Pilot Boat (Charter) Hydrographic Survey Launch Fiberglass Patrol Boat

No. of Units / Facilities Jumlah Unit / Kemudahan

Total Capacity / Area Jumlah Kapasiti / Keluasan Quay Width 24 M 30 M 35 M 35 M Depth 10.5 M 13.5 M 14.0 M 15.5 M 11.0 M 11.0 M 7.0M 4.5 M 14.0M 14.0M

3 Berth 1" 2" 3" 1" 2" 1" 1" 2" 4"

515 M 270 M 450 M 120 M 950 M

Square meters Meter Persegi

2 3 1 1

10,000 7,200 62,000 2,376

28 6 1 3 3 5

2264 Ground Slots * 524 Ground Slots * 12 Ground Slots * 48 Ground Slots * 42 Ground Slots * 442 Ground Slots * * (Twenty Foot) Capacity Kapasiti

3 1 3 1 2 2 2 2 2 1 2

45 Tonnes bollard pull 45 Tonnes bollard pull 45 Tonnes bollard pull 25 Tonnes bollard pull 25 Tonnes bollard pull -

116

BINTULU PORT HOLDINGS BERHAD (380802-T)

PERALATAN DAN KEMUDAHAN SETAKAT 17 MAC 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Cargo Handling & Mechanical Equipments Peralatan Pengendalian Kargo & Mekanikal Container Handling Equipment Post Panamax Gantry Cranes Rubber Tyred Gantry Cranes Mobile Harbour Crane Reach Stacker Diesel Towing Terminal Tractor Trailer (Container) Toyota Diesel Forklift Extra Heavy Forklift Empty Container Forklifts Battery Power Forklift Gas Forklift Empty Container Handler Cargo Handling Equipment Forklift Trucks 4 Ton (Diesel) Forklift Trucks 8 Ton (Diesel) Forklift Trucks 25 Ton (Diesel) Forklift Trucks H/M (LPG) Forklift Trucks L/M (LPG) Terminal Tractor Platform Trailer Reach Stacker Bulking Facilities / Kemudahan Penstoran 2600 MT Tank 2000 MT Tank 1000 MT Tank 650 MT Tank

No. of Units / Facilities Jumlah Unit / Kemudahan

Metric Tonnes Metrik Tan

2 6 1 8 25 28 2 1 2 3 3 3

40.6 40.6 100 40 40 40 14 25 14 2.5 3 10

19 4 1 2 2 27 33 1 No. of Units / Facilities Jumlah Unit / Kemudahan 4 22 16 8

4 8 25 4 4 40 40 40 Metric Tonnes Metrik Tan 10,400 44,000 16,000 5,200

BINTULU PORT HOLDINGS BERHAD (380802-T)

117

LIST OF PROPERTIES AS AT 17 th MARCH 2010 SENARAI HARTANAH SETAKAT 17 MAC 2010

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Location Lokasi

Description Keterangan

Tenure/Age of Building (Years) Hakmilik / Usia Bangunan (Tahun)

Area sq. ft. Keluasan kaki persegi

Net Book Value RM'000 Nilai Buku Bersih RM'000

Land: Part of Lot 15 & 37 (Alienated Land), The surveyed land Tanjung Kidurong, Kemena Land District, area identified in the Bintulu, Sarawak Agreement to SubLease (Alienated Land) dated 31.12.1992 Part of Lot 15 & 37 (BICT Land) Tanjung The surveyed land Kidurong, Kemena Land District, Bintulu area which covers the Port Holdings Berhad, Sarawak BICT Buildings, Structures & Improvements: Built on Alienated Land Single Storey Office Building Built on BICT Land Receipt & Delivery Building Gate House Crane Service Station Custom Examination Shed Canteen Building Marine Operation Building Marine Maintenance Workshop Wisma Kontena Building Access Road (including 2 bridges) Container Stacking & Operations Yard Main Intake Substation Quay Crane Substation Quay Crane Station CFS Substation Marine Marine Operation Substation Wharves 4 & 5 Small Craft Harbour Coastal Terminal Edible Oil Terminal Bulk Fertilizer Warehouse Empty Container Stacking Yard Built on Palm Oil Bulking Installation Facilities: Administration Building Weighing Office Pump House Guard House M & E Block A M & E Block B Storage Tank

*

Leasehold (expiring in 2022)

4,415,170

-

Leasehold (expiring in 2022)

2,693,037

-

-

15 years 11 years 11 years 11 years 10 years 11 years 11 years 10 years 10 years 11 years 10 years 10 years 10 years 1 year 6 months 10 years 10 years 10 years 10 years 11 years 5 years 4 years 7 months

6,935 12,110 5,015 9,300 2,583 11,959 16,534 9,300 69,727 * 1,937,229 2,174 1,485 10,463 904 1,098 168,053 * 9,085 44,215 21,700 419,725

202 1,512 543 645 52 773 2,589 1,055 8,627 7,403 43,972 892 529 1,208 278 419 38,946 5,980 522 38,642 13,921 5,180

-

5 years 5 years 5 years 5 years 5 years 5 years 5 years

1,140 458 1,817 322 486 444 -

1,357 623 1,536 155 483 470 36,256

The Access Road (including 2 bridges) and the Small Craft Harbour are descriptive improvements and structures, which are not quantified in floor area measurement.

118

BINTULU PORT HOLDINGS BERHAD (380802-T)

Directors' Report and Audited Financial Statements 31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

FINANCIAL STATEMENTS

Contents

Directors' report Statement by directors Statutory declaration Independent auditors' report Income statements Balance sheets Statements of changes in equity Cash flow statements Notes to the financial statements

Page

120 - 122 123 123 124 - 125 126 127 128 129 - 130 131 - 159

BINTULU PORT HOLDINGS BERHAD

(380802-T)

119

DIrECTorS' rEporT

LAPORAN TAHUNAN 2009 ANNUAL REPORT

The directors hereby present their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2009.

Principal activities

The principal activity of the Company is investment holding. The principal activities of the Group consist of the provision of port services at Bintulu Port, Sarawak and provision of bulking installation facilities for palm oil, edible oils, vegetable oils, fats and its by-products. There was no significant change in the nature of these activities during the financial year.

Results

Group RM'000 Profit for the year 128,756 Company RM'000 170,732

There were no material transfers to or from reserves or provisions during the financial year. In the opinion of the directors, the results of the operations of the Group and of the Company during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature.

Dividends

The amount of dividends paid by the Company since 31 December 2008 were as follows: RM'000 In respect of the financial year ended 31 December 2008 as shown in the directors' report of that year: Final single tier dividend of 11.25 sen per share paid on 29 May 2009 Special single tier dividend of 7.50 sen per share paid on 29 May 2009 In respect of the financial year ended 31 December 2009: Interim single tier dividend of 7.50 sen per share paid on 4 August 2009 Interim single tier dividend of 7.50 sen per share paid on 2 October 2009 Interim single tier dividend of 7.50 sen per share paid on 30 December 2009 30,000 30,000 30,000 45,000 30,000

The directors recommend the payment of a final single tier dividend of 7.50 sen per share and a special single tier dividend of 7.50 sen per share on 400,000,000 ordinary shares, amounting to RM30,000,000 and RM30,000,000 respectively which, subject to the approval of members at the forthcoming Annual General Meeting of the Company, will be paid on 27 May 2010 to shareholders registered on the Company's Register of Members at the close of business on 14 May 2010. The financial statements for the current financial year do not reflect these proposed dividends. Such dividends, if approved by the shareholders, will be accounted for in equity as an appropriation of retained profits in the financial year ending 31 December 2010.

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DIrECTorS' rEporT

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Directors

The name of directors who have held office during the period since the date of the last report are as follows: Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah (Chairman) Tan Sri Dato Sri Mohd. Zahidi bin Zainuddin Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Dato' Mohamad Norza bin Zakaria Datuk Fong Joo Chung Datuk Hashim bin Ismail Datu Hj. Abang Halmi bin Ikhwan Ahmad Nizam bin Salleh Amir Hamzah bin Azizan Dato' Shamsul Azhar bin Abbas Tun Dato' Seri Hj. Mohd Eusoff bin Chin (Appointed on 1 November 2009) (Retired and reappointed on 28 April 2009)

(Retired and reappointed on 28 April 2009) (Appointed on 28 April 2009) (Retired on 28 April 2009) (Retired on 31 October 2009)

Directors' benefits

Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Company was 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. Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than directors' remuneration as disclosed in Note 6 and 7 to the financial statements) by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member, or with a company in which he has substantial financial interest.

Directors' interests

According to the register of directors' shareholdings, none of the directors in office at the end of the financial year had any interest in shares in the Company or its related corporations during the financial year.

Other statutory information

(a) Before the income statements 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 satisfied themselves that there were no known bad debts and that no provision for doubtful debts was necessary; and (ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had 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) it necessary to write off any bad debts or to make any provision for doubtful debts in respect of the financial statements of the Group and the Company; and (ii) the values attributed to the current assets in the financial statements of the Group and of the Company misleading.

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LAPORAN TAHUNAN 2009 ANNUAL REPORT

Other statutory information (cont'd)

(c) At the date of this report, the directors are not aware of any circumstances which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. (d) At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or financial statements of the Group and of the Company which would render any amount stated in the financial statements misleading. (e) As at the date of this report, there does not exist: (i) any charge on the assets of the Group or 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 of the Group or 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 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 or 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. Signed on behalf of the Board in accordance with a resolution of the directors dated 25 February 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

Datuk Fong Joo Chung

Kuala Lumpur, Malaysia

122

BINTULU PORT HOLDINGS BERHAD (380802-T)

Pursuant to Section 169(15) of the Companies Act, 1965

LAPORAN TAHUNAN 2009 ANNUAL REPORT

STATEMENT by DIrECTorS

We, Tan Sri Dr. Wan Abdul Aziz and Datuk Fong Joo Chung, being two of the directors of Bintulu Port Holdings Berhad, do hereby state that, in the opinion of the directors, the accompanying financial statements set out on pages 126 to 159 are drawn up in accordance with the provisions of the Companies Act, 1965 and applicable Financial Reporting Standards in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company as at 31 December 2009 and the results and cash flows of the Group and of the Company for the year then ended. Signed on behalf of the Board in accordance with a resolution of the directors dated 25 February 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah

Datuk Fong Joo Chung

Kuala Lumpur, Malaysia

STATuTory DECLArATIoN

Pursuant to Section 169(16) of the Companies Act, 1965

I, Rambli bin Mashar, being the officer primarily responsible for the financial management of Bintulu Port Holdings Berhad, do solemnly and sincerely declare that the accompanying financial statements set out on pages 126 to 159 are, in my opinion, 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 Rambli bin Mashar at Kuala Lumpur in Wilayah Persekutuan on 25 February 2010

Rambli bin Mashar

Before me, R Vasugi Ammal, PJK W 480 Commissioner For Oath

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123

INDEpENDENT AuDITorS' rEporT

LAPORAN TAHUNAN 2009 ANNUAL REPORT

to the members of Bintulu Port Holdings Berhad (Incorporated in Malaysia) Report on the financial statements

We have audited the financial statements of Bintulu Port Holdings Berhad, which comprise the balance sheets as at 31 December 2009 of the Group and of the Company, and the income statements, statements of changes in equity and cash flow statements of the Group and of the Company for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 126 to 159.

Directors' responsibility for the financial statements

The directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance with the Companies Act, 1965 and applicable Financial Reporting Standards in Malaysia. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditors' responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with applicable Approved Standards on Auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our 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 and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. An audit also includes evaluating the appropriateness of the 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 the Companies Act, 1965 and applicable Financial Reporting Standards in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company as at 31 December 2009 and of their financial performance and cash flows of the Group and of the Company for the year then ended.

124

BINTULU PORT HOLDINGS BERHAD (380802-T)

to the members of Bintulu Port Holdings Berhad (cont'd.) (Incorporated in Malaysia)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

INDEpENDENT AuDITorS' rEporT

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 have been properly kept in accordance with the provisions of the Act. (b) We are satisfied that the accounts of the subsidiaries that have been consolidated with the financial statements of the Company are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial statements and we have received satisfactory information and explanations required by us for those purposes. (c) The auditors' reports on the accounts of the subsidiaries were not subject to any qualification and did not include any comment required to be made under Section 174(3) of the Act.

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.

Ernst & Young AF: 0039 Chartered Accountants Kuala Lumpur, Malaysia 25 February 2010

Habibah bte Abdul No. 1210/05/10(J) Chartered Accountant

BINTULU PORT HOLDINGS BERHAD (380802-T)

125

INCoME STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

For the year ended 31 December 2009

Group 2008 RM'000 448,767 21,217 (59,465) (1,693) (5,284) (26,781) (20,893) (4,369) (100,161) (19,187) (5,356) (20,912) 205,883 (55,272) 150,611 Company 2009 2008 RM'000 RM'000 220,350 10,413 (639) (12) (2) (5) (2,262) 227,843 (57,111) 170,732 220,350 10,541 (834) (2) (2) (2,249) 227,804 (59,477) 168,327

Note

2009 RM'000

Revenue Other income Staff costs Amortisation of intangible assets Charter hire of boats Depreciation of property, plant and equipment Dredging costs Fuel, electricity and utilities Insurance Leasing of port facilities Repairs and maintenance Stevedorage costs Other expenses Profit before tax Taxation Profit for the year Earnings per share Basic (sen)

3 4 5 13

439,047 17,556 (57,110) (1,687) (5,682) (29,586) (12,500) (15,282) (3,696) (113,372) (21,834) (5,017) (17,319) 173,518 (44,762) 128,756

11

6 8

9

32.19

37.65

The accompanying notes form an integral part of the financial statements.

126

BINTULU PORT HOLDINGS BERHAD (380802-T)

as at 31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

bALANCE ShEETS

Company 2009 2008 RM'000 RM'000

Note Assets Non-current assets Property, plant and equipment Investments in subsidiaries Intangible assets Other receivables Deferred tax assets Current assets Properties held for sale Trade receivables Other receivables Tax recoverable Cash and cash equivalents Total assets Equity and liabilities Equity attributable to equity holders of the company Share capital Share premium Retained earnings Total equity Non-current liabilities Retirement benefits Deferred tax liabilities Current liabilities Other payables Tax payable Total liabilities Total equity and liabilities 20 21

2009 RM'000

Group 2008 RM'000

11 12 13 16 21

602,516 13,392 776 616,684 15,753 39,522 28,489 313,715 397,479 1,014,163

516,032 14,997 776 531,805 16,768 38,843 32,338 16 461,657 549,622 1,081,427

180 340,000 81,590 421,770 9,983 136,584 146,567 568,337

15 340,000 340,015 204 221,830 222,034 562,049

14 15 16 17

18 19

400,000 92,950 351,837 844,787 38,271 17,510 55,781 109,459 4,136 113,595 169,376 1,014,163

400,000 92,950 388,081 881,031 34,736 16,500 51,236 139,794 9,366 149,160 200,396 1,081,427

400,000 92,950 73,457 566,407 1,355 575 1,930 1,930 568,337

400,000 92,950 67,725 560,675 761 613 1,374 1,374 562,049

22

The accompanying notes form an integral part of the financial statements.

BINTULU PORT HOLDINGS BERHAD (380802-T)

127

STATEMENTS oF ChANgES IN EquITy

For the year ended 31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Note Group At 1 January 2008 Profit for the year Dividends At 31 December 2008 At 1 January 2009 Profit for the year Dividends At 31 December 2009 Company At 1 January 2008 Profit for the year Dividends At 31 December 2008 At 1 January 2009 Profit for the year Dividends At 31 December 2009

Nondistributable Share share capital premium RM'000 RM'000

Distributable retained earnings RM'000

Total RM'000

10

400,000 400,000 400,000 400,000

92,950 92,950 92,950 92,950

400,270 150,611 (162,800) 388,081 388,081 128,756 (165,000) 351,837

893,220 150,611 (162,800) 881,031 881,031 128,756 (165,000) 844,787

10

10

400,000 400,000 400,000 400,000

92,950 92,950 92,950 92,950

62,198 168,327 (162,800) 67,725 67,725 170,732 (165,000) 73,457

555,148 168,327 (162,800) 560,675 560,675 170,732 (165,000) 566,407

10

The accompanying notes form an integral part of the financial statements.

128

BINTULU PORT HOLDINGS BERHAD (380802-T)

For the year ended 31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

CASh FLow STATEMENTS

Group 2008 RM'000 205,883 4,498 26,781 1,694 1,838 (397) 166 (20,433) 220,030 1,308 (20,432) (1,357) 32,372 231,921 (52,123) 179,798 Company 2009 2008 RM'000 RM'000 227,843 12 (10,413) (220,350) (2,908) (10) 594 (2,324) (2,061) (4,385) 227,804 2 5 (10,541) (220,350) (3,080) (652) (3,732) (2,721) (6,453)

2009 RM'000 Cash flows from operating activities Profit before tax Adjustments for: Provision for retirement benefits Depreciation of property, plant and equipment Amortisation of intangible assets Work-in-progress written off (Gain)/Loss on disposal of property, plant and equipment Loss on disposal of properties held for sale Interest income Gross dividend income Operating profit/(loss) before working capital changes Changes in working capital: Properties held for sale Receivables Retirement benefits paid Payables Cash generated from/ (used in) operations Tax paid Net cash flow generated from/ (used in) operating activities 173,518 5,122 29,586 1,687 18

(323) 30 (14,913) 194,725 876 5,449 (1,588) (43,918) 155,544 (48,964) 106,580

BINTULU PORT HOLDINGS BERHAD (380802-T)

129

CASh FLow STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

For the year ended 31 December 2009 (cont'd.)

Group 2009 2008 RM'000 RM'000 Cash flows from investing activities Amount due from a subsidiary Purchase of property, plant and equipment Purchase of intangible assets Interest received Increase in investment in a subsidiary Proceeds from disposal of property, plant and equipment Proceeds from disposal of properties held for sale Net dividend received Net cash flow (used in)/ generated from investing activities Cash flows from financing activities Decrease in deposits pledged as securities for banking facilities Dividends paid Net cash flow used in financing activities Net change in cash and cash equivalents Cash and cash equivalents at beginning of financial year (Note 17) Cash and cash equivalents at end of financial year (Note 17) (103,421) (82) 13,749 122 110 (89,522) (51,375) 22,449 402 176 (28,348) Company 2009 2008 RM'000 RM'000 (89,395) (177) 8,449 165,262 84,139 (3) 11,156 (30,000) 163,059 144,212

2,768 (165,000) (162,232) (145,174) 458,889 313,715

15 (162,800) (162,785) (11,335) 470,224 458,889

18 (165,000) (164,982) (85,228) 221,812 136,584

(162,800) (162,800) (25,041) 246,853 221,812

The accompanying notes form an integral part of the financial statements.

130

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

1.

Corporate information

The principal activity of the Company is investment holding. The principal activities of the Group are the provision of port services at Bintulu Port, Sarawak and provision of bulking installation facilities for palm oil, edible oils, vegetable oils, fats and its by-products. The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of the Bursa Malaysia Securities Berhad. The address of the registered office and the principal place of business of the Company is Lot 15, Block 20, Kemena Land District, 12th Mile, Jalan Tanjung Kidurong, 97008 Bintulu, Sarawak. The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors on 25 February 2010.

2.

Significant accounting policies

2.1 Basis of preparation The financial statements comply with Financial Reporting Standards and the Companies Act, 1965 in Malaysia. The financial statements of the Group and of the Company have also been prepared under the historical cost basis. The financial statements are presented in Ringgit Malaysia (RM) and all values are rounded to the nearest thousand (RM'000) except when otherwise stated. 2.2 Summary of significant accounting policies (a) Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at the balance sheet date. The financial statements of the subsidiaries are prepared for the same reporting date as the Company. Subsidiaries are consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date that such control ceases. In preparing the consolidated financial statements, intragroup balances, transactions and unrealised gains or losses are eliminated in full. Uniform accounting policies are adopted in the consolidated financial statements for like transactions and events in similar circumstances. Acquisitions of subsidiaries are accounted for using the purchase method except for one subsidiary which was accounted for using the merger method of accounting. Under merger method of accounting, the cost of investment in the Company's book is recorded at the nominal value of shares issued. The results of the company being merged are included as if the merger had been effected throughout the current and previous financial years. Any resulting credit difference is classified as equity and regarded as a non-distributable reserve. Any resulting debit difference is adjusted against any suitable reserve.

BINTULU PORT HOLDINGS BERHAD (380802-T)

131

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 2.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Significant accounting policies (cont'd.)

2.2 Summary of significant accounting policies (cont'd.) (a) Basis of consolidation (cont'd.) The purchase method of accounting involves allocating the cost of the acquisition to the fair value of the assets acquired and liabilities and contingent liabilities assumed at the date of acquisition. The cost of an acquisition is measured as the aggregate of the fair values, at the date of exchange, of the assets given, liabilities incurred or assumed, and equity instruments issued, plus any costs directly attributable to the acquisition. Any excess of the cost of the acquisition over the Group's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities represents goodwill. Any excess of the Group's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities over the cost of acquisition is recognised immediately in the income statement. (b) Intangible asset (i) Right to operate Right to operate pertains to the excess of the cost of acquisition of the business by a subsidiary from Bintulu Port Authority over the net assets acquired based on the Privatisation Agreement between the Government of Malaysia, Bintulu Port Authority and the subsidiary of the Group. Under terms of the Privatisation Agreement, the subsidiary is granted license to provide port services for the period of the land lease which expires in year 2022. The right to operate has a finite useful life and is stated at cost less accumulated amortisation and impairment losses. The policy for the recognition and measurement of impairment losses is in accordance with Note 2.2(i). Right to operate is amortised on a straight-line basis over its estimated useful life of twenty five years. (ii) Software Software acquired separately is measured on initial recognition at cost. Software has a finite useful life and is stated at cost less accumulated amortisation and impairment losses. The policy for the recognition and measurement of impairment losses is in accordance with Note 2.2(i). Software is amortised on a straight-line basis over its estimated useful life of ten years. (c) Investment in subsidiaries The Company's investment in subsidiaries is stated at cost less impairment losses. The policy for the recognition and measurement of impairment losses is in accordance with Note 2.2(i). On disposal of such investment, the difference between net disposal proceeds and its carrying amount is charged or credited to the income statement.

132

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

2.

Significant accounting policies (cont'd.)

2.2 Summary of significant accounting policies (cont'd.) (d) Property, plant and equipment and depreciation All items of property, plant and equipment are initially recorded at cost. Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the Company and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. Subsequent to recognition, property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Construction-in-progress is not depreciated. Other property, plant and equipment are depreciated on a straight line basis to write off the cost of each asset to their residual value over their estimated lives, at the following annual rates: Building and bulking facilities Machinery and equipment Motor vehicles Office furniture, fittings and equipment Vessels 4% 10% - 20% 10% - 20% 10% - 13% 5% - 7%

Buildings and port structure are depreciated over the lease period which expires in year 2022. The residual values, useful life and depreciation method are reviewed at each financial year end 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 property, plant and equipment. An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. The difference between the net disposal proceeds, if any and the net carrying amount is recognised in the income statement. (e) Properties held for sale Properties held for sale are stated at the lower of cost and net realisable value. The cost of properties held for sale includes the expenditure incurred in acquiring the land, direct cost and appropriate proportion of common costs attributable to developing the properties to completion. Any gains or losses on the disposal of properties held for sale are recognised in the income statement in the year in which they arise. (f) Income tax Income tax on the income statement 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 at the balance sheet date.

BINTULU PORT HOLDINGS BERHAD (380802-T)

133

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 2.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Significant accounting policies (cont'd.)

2.2 Summary of significant accounting policies (cont'd.) (f) Income tax (cont'd.) Deferred tax is provided for, using the liability method, on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts in the financial statements. In principle, deferred tax liabilities are recognised for all taxable temporary differences and 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 taxable profit will be available against which the deductible temporary differences, unused tax losses and unused tax credits can be utilised. Deferred tax is not recognised if the temporary difference arises from goodwill or negative goodwill 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 is 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 tax rates that have been enacted or substantively enacted at the balance sheet date. Deferred tax is recognised as income or an expense and included in the income statement for the period, except when it arises from a transaction which is recognised directly in equity, in which case the deferred tax is also recognised directly in equity. (g) Employee benefits (i) Short term benefits Wages, salaries, bonuses and social security contributions are recognised as an expense in the year in which the associated services are rendered by employees of the Group. Short term accumulating compensated absences such as paid annual leave are recognised when services are rendered by employees that increase their entitlement to future compensated absences, and short term non-accumulating compensated absences such as sick leave are recognised when the absences occur. (ii) Defined contribution plan Defined contribution plan is post-employment benefit plan under which the Group pays fixed contributions into a separate fund and will have no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee services in the current and preceding financial years. Such contributions are recognised as an expense in the income statement as incurred. As required by law, companies in Malaysia make such contributions to the Employees Provident Fund ("EPF"). (iii) Post-employment benefits - defined benefit plan The Group operates an unfunded, defined benefit Retirement Benefit Scheme for its employees. Benefits are payable based on the last drawn salary of the employee and the number of years of service with the Group. Provision is made in the balance sheet of the Group for the cost of retirement benefits under this Scheme which is determined based on triennial actuarial valuation using the projected unit credit method. Under this method, the cost of providing retirement benefits is charged to the income statement. The obligation is measured at the present value of the estimated future cash outflows using the yield at balance sheet date on government securities that have maturity dates approximating the terms of the Group's obligations.

134

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

2.

Significant accounting policies (cont'd.)

2.2 Summary of significant accounting policies (cont'd.) (iii) Post-employment benefits - defined benefit plan (cont'd.) Actuarial gains and losses arise mainly from changes in actuarial assumptions and differences between actuarial assumptions and what has actually occurred. Such gains and losses are credited or charged to the income statement over the expected average remaining working lives of the employees participating in the plan. (h) Revenue recognition Revenue is recognised when it is probable that the economic benefits associated with the transaction will flow to the Group and the Company and the amount of the revenue can be measured reliably. (i) Revenue from port operations Revenue from port operations are recognised net of rebates on an accrual basis when the services are performed. (ii) Revenue from bulking services Revenue from bulking services are recognised net of discount on an accrual basis when the services are performed. (iii) Interest income Interest income is recognised on a time proportion basis that reflects the effective yield on the asset. (iv) Dividend income Dividend income is recognised when the right to receive payment is established. (i) Impairment of non-financial assets The carrying amounts of assets, other than deferred tax assets and property held for sale are reviewed at each balance sheet date to determine whether there is any indication of impairment. If any such indication exists, the asset's recoverable amount is estimated to determine the amount of impairment loss. For intangible assets that have an indefinite useful life and intangible assets that are not yet available for use, the recoverable amount is estimated at each balance sheet date or more frequently when indicators of impairment are identified. For the purpose of impairment testing of these assets, recoverable amount is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. If this is the case, recoverable amount is determined for the cash-generating unit (CGU) to which the asset belongs to. An asset's recoverable amount is the higher of the asset's or CGU's fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

BINTULU PORT HOLDINGS BERHAD (380802-T)

135

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 2.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Significant accounting policies (cont'd.)

2.2 Summary of significant accounting policies (cont'd.) (i) Impairment of non-financial assets (cont'd.) An impairment loss for an asset is reversed if, and only if, there has been a change in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognised. The carrying amount of an asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss for an asset is recognised in the income statement. (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. Operating lease payments are recognised as an expense on a straight-line basis over the term of the lease. (k) Provisions for liabilities Provisions for liabilities are recognised when the Group has a present obligation as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount can be made. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. (l) Financial instruments Financial instruments are recognised in the balance sheet 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. The particular recognition method adopted for financial instruments recognised in the balance sheet is disclosed in the individual accounting policies associated with each item. (i) Receivables Receivables are carried at anticipated realisable values. Bad debts are written off when identified. An estimate is made for doubtful debts based on review of all outstanding amounts as at the balance sheet date. (ii) Cash and cash equivalents For the purpose of the cash flow statements, cash and cash equivalents include cash and bank balances, deposit at call and short term highly liquid investments which have an insignificant risk of changes in value, net of deposits pledged. (iii) Payables Payables are stated at cost which is the fair value of the consideration to be paid in the future for goods and services received. (iv) Equity instruments Ordinary shares are classified as equity. Dividends on ordinary shares are recognised as equity in the period in which they are declared.

136

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

2.

Significant accounting policies (cont'd.)

2.3 Standards and Interpretations Issued but Not Yet Effective At the date of authorization of these financial statements, the following new FRSs, Amendments to FRSs and Interpretations were issued but not yet effective and have not been applied by the Group and the Company: FRSs, Amendments to FRSs and Interpretations Effective for financial periods beginning on or after 1 July 2009: FRS 8 Operating Segments

Effective for financial periods beginning on or after 1 January 2010: FRS 4 FRS 7 FRS 101 FRS 123 FRS 139 Amendments to FRS 2 Amendments to FRS 1 and FRS 127 Amendment to FRS 5 Amendments to FRS 7 Amendments to FRS 8 Amendment to FRS 107 Amendment to FRS 108 Amendment to FRS 110 Amendment to FRS 116 Amendment to FRS 117 Insurance Contracts Financial Instruments: Disclosures Presentation of Financial Statements (as revised in 2009) Borrowing Costs Financial Instruments: Recognition and Measurement Share-based Payment: Vesting Conditions and Cancellations First-time Adoption of Financial Reporting Standards and Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate Non-current Assets Held for Sale and Discontinued Operations Financial Instruments: Disclosures Operating Segments Cash Flow Statements Accounting Policies, Changes in Accounting Estimates and Errors Events After the Balance Sheet Date Property, Plant and Equipment Leases

BINTULU PORT HOLDINGS BERHAD (380802-T)

137

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 2.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Significant accounting policies (cont'd.)

2.3 Standards and Interpretations Issued but Not Yet Effective (cont'd.) FRSs, Amendments to FRSs and Interpretations (cont'd.) Effective for financial periods beginning on or after 1 January 2010 (cont'd.): Amendment to FRS 118 Amendment to FRS 119 Amendment to FRS 120 Amendment to FRS 123 Amendment to FRS 128 Amendment to FRS 129 Amendment to FRS 131 Amendments to FRS 132 Amendment to FRS134 Amendment to FRS 136 Amendment to FRS 138 Amendments to FRS 139, FRS 7 and IC Interpretation 9 Improvement to FRSs 2009 IC Interpretation 9 IC Interpretation 10 IC Interpretation 11 IC Interpretation 13 IC Interpretation 14 Revenue Employee Benefits Accounting for Government Grants and Disclosure of Government Assistance Borrowing Costs Investments in Associates Financial Reporting in Hyperinflationary Economies Interests in Joint Ventures Financial Instruments: Presentation Interim Financial Reporting Impairment of Assets Intangible Assets Financial Instruments: Recognition and Measurement, Disclosures and Reassessment of Embedded Derivatives Improvement to FRSs (2009) Reassessment of Embedded Derivatives Interim Financial Reporting and Impairment FRS 2 - Group and Treasury Share Transactions Customer Loyalty Programmes FRS 119 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction

138

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

2.

Significant accounting policies (cont'd.)

2.3 Standards and Interpretations Issued but Not Yet Effective (cont'd.) FRSs, Amendments to FRSs and Interpretations (cont'd.) Effective for financial periods beginning on or after 1 July 2010: FRS 1 FRS 3 FRS 127 IC Interpretation 12 IC Interpretation 15 IC Interpretation 16 IC Interpretation 17 Amendments to FRS 2 Amendment to FRS 5 Amendment to FRS 138 Amendments to FRS 139 Amendments to IC Interpretation 9 FRS 1 First-time Adoption of Financial Reporting Standards Business Combinations Consolidated and Separate Financial Statements Service Concession Arrangements Agreements for the Construction of Real Estate Hedges of a Net Investment in a Foreign Operation Distributions of Non-cash Assets to Owners Share-based Payment Non-current Assets Held for Sale and Discontinued Operations Intangible Assets Financial Instruments: Recognition and Measurement Reassessment of Embedded Derivatives

The above new FRSs, Amendments to FRSs and Interpretations are expected to have no significant impact on the financial statements of the Group and the Company upon their initial application except for the changes arising from the adoption of FRS 7 and FRS 139. The Group and the Company are exempted from disclosing the possible impact to the financial statements upon the initial application of FRS 7 and FRS 139. The revised FRS 101 separates owner and non-owner changes in equity. Therefore, the consolidated statement of changes in equity will now include only details of transactions with owners. All non-owner changes in equity are presented as a single line labeled as total comprehensive income. The Standard also introduces the statement of comprehensive income: presenting all items of income and expense recognised in the income statement, together with all other items of recognised income and expense, either in one single statement, or in two linked statements. The Group is currently evaluating the format to adopt. In addition, a statement of financial position is required at the beginning of the earliest comparative period following a change in accounting policy, the correction of an error or the reclassification of items in the financial statements. This revised FRS does not have any impact on the financial position and results of the Group and the Company.

BINTULU PORT HOLDINGS BERHAD (380802-T)

139

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 2.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Significant accounting policies (cont'd.)

2.4 Significant accounting estimates and judgements (a) Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (i) Impairment assessment of property, plant and equipment relating to the bulking business As at 31 December 2009, the carrying amount of property, plant and equipment relating to the bulking business ("bulking assets") is RM97,380,773 (2008: RM88,697,322). The Group determines whether the carrying amount of the bulking assets is impaired at least on an annual basis. The Group carried out the impairment test based on the value-in-use of the bulking assets. Estimating the value-in-use requires the Group to make an estimate of the expected future cash flows from the bulking assets and also to choose a suitable discount rate in order to calculate the present value of those cashflows. The expected future cash flows as used by the Group in the analysis include a significant assumption on throughput growth. In the event the Group is unable to achieve the projected throughput growth, the future cash flows would be affected and this may require impairment provision to be recognised on the carrying amount of the bulking assets. (ii) Deferred tax assets Deferred tax assets are recognised for unutilised tax losses and unabsorbed capital allowances to the extent that it is probable that taxable profit will be available against which the losses and capital allowances can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based on the likely timing and level of future taxable profits together with future tax planning strategies. The unutilised tax losses of the Group as at balance sheet date is RM130,964 (2008: RM93,752) and unabsorbed capital allowances as at balance sheet date is RM699,044 (2008: RM Nil).The unutilised investment tax allowance of the Group as at balance sheet date is RM99,475,500 (2008: RM99,270,060). (iii)Properties held for sale As disclosed in Note 14, the properties held for sale relate to the houses purchased by the subsidiary in connection with the subsidiary's staff housing project in Bintulu. The title to these properties has yet to be transferred to the subsidiary. Management has assumed that the title will be transferred to the subsidiary.

140

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

3.

Revenue

2009 RM'000 Revenue from port services rendered Revenue from bulking services Dividend income from a subsidiary 421,862 17,185 439,047

Group 2008 RM'000 434,569 14,198 448,767

Company 2009 2008 RM'000 RM'000 220,350 220,350 220,350 220,350

4.

Other income

Group 2009 2008 RM'000 RM'000 14,913 2,106 537 17,556 20,433 163 621 21,217

Company 2009 2008 RM'000 RM'000 10,413 10,413 10,541 10,541

Interest income Rental income Others

5.

Staff costs

Group 2009 2008 RM'000 RM'000 40,090 5,122 4,533 7,365 57,110 41,913 4,498 4,437 8,617 59,465

Company 2009 2008 RM'000 RM'000 534 52 53 639 562 55 217 834

Wages, salaries, allowances and bonus Defined benefit Retirement Benefit Scheme (Note 20) Defined contribution plan (Employees Provident Fund) Other employee benefits

Details of the defined benefit Retirement Benefit Scheme of the Group are set out in Note 20.

BINTULU PORT HOLDINGS BERHAD (380802-T)

141

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 6.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Profit before tax

The following amounts have been charged/(credited) in arriving at profit before tax: Group 2009 2008 RM'000 RM'000 Auditors' remuneration - statutory audit - current year - over provision in prior year Non-executive directors - fees - other emoluments Rental of equipment Rental of motor vehicle Rental of premises (Gain)/Loss on disposal of property, plant and equipment Loss on disposal of properties held for sale Reversal of doubtful debts Work-in-progress written off 151 (10) 1,002 146 1,052 545 (321) 30 18 153 864 124 2,193 278 (397) 166 (6) 1,838 Company 2009 2008 RM'000 RM'000 55 (3) 792 121 53 13 37 55 672 88 51 26 37 5 -

7.

Remuneration - key management personnel

(a) Compensation of key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any directors of that entity. The remuneration of directors and other member of key management of the Group and of the Company during the financial year was as follows: 2009 RM'000 Remuneration and benefits Post-employment benefits: Defined contribution plan 1,835 116 1,951 Group 2008 RM'000 1,666 114 1,780 Company 2009 2008 RM'000 RM'000 980 980 829 829

142

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

7.

Remuneration - key management personnel (cont'd.)

(b) Directors' remuneration The aggregate amount of emoluments received and receivable by directors of the Group and of the Company during the financial year was as follows: 2009 RM'000 Non-executive directors - fees - current year - under provision of prior year - meeting allowance - benefits-in-kind Analysis excluding benefits in-kind: Total non-executive directors' remuneration excluding benefits-in-kind 1,002 146 7 1,155 Group 2008 RM'000 756 108 124 9 997 Company 2009 2008 RM'000 RM'000 792 121 7 920 564 108 88 9 769

1,148

988

913

760

The number of directors of the Company whose total remuneration during the financial year fell within the following bands is as follows: Number of Directors 2009 2008 Non-executive directors: Below RM50,000 RM50,001 - RM100,000 1 10 9

BINTULU PORT HOLDINGS BERHAD (380802-T)

143

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 8. Taxation

2009 RM'000 Income tax - current year - over provision in prior years Deferred tax (Note 21) Relating to origination and reversal of temporary differences Relating to changes in tax rates (Over)/Under provision in prior year

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Group 2008 RM'000 49,690 (58) 49,632

Company 2009 2008 RM'000 RM'000 57,111 57,111 59,602 (125) 59,477

44,533 (781) 43,752

1,703 (693) 1,010 44,762

5 ,677 (197) 160 5,640 55,272

57,111

59,477

Domestic income tax is calculated at the Malaysian statutory tax rate of 25% (2008: 26%) of the estimated assessable profit for the year. A reconciliation of income tax expense applicable to profit before tax at the statutory income tax rate to income tax expense at the effective income tax rate of Company is as follows: 2009 RM'000 Profit before tax Tax calculated at the Malaysian tax rate of 25% (2008: 26%) Tax effects of: - expenses not deductible for tax purposes - changes in tax rates on opening deferred tax - deferred tax recognised at different tax rates Deferred tax assets recognised on unutilised tax losses and unabsorbed capital allowances Over provision in prior years Deferred tax assets not recognised (Over)/Under provision of deferred tax in prior year Income tax expense for the year 173,518 43,380 2,672 Group 2008 RM'000 205,883 53,530 2,601 (197) (185) Company 2009 2008 RM'000 RM'000 227,843 56,961 150 227,804 59,229 219 -

(781) 184 (693) 44,762

(733) (58) 154 160 55,272

57,111

(125) 154 59,477

144

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

9.

Earnings per share

(a) Basic Basic earnings per share of the Group is calculated by dividing the profit for the year by the number of ordinary shares in issue during the financial year. Group 2009 2008 Profit for the year (RM'000) Number of ordinary shares in issue (`000) Basic earnings per share (sen) (b) Diluted There is no dilution in earnings per share. 128,756 400,000 32.19 150,611 400,000 37.65

10. Dividends

Dividends in respect of the year 2009 2008 RM'000 RM'000 30,000 30,000 30,000 90,000 29,600 29,600 29,600 45,000 30,000 163,800

Dividends Recognised in Year 2009 2008 RM'000 RM'000 45,000 30,000 30,000 30,000 30,000 165,000 44,400 29,600 29,600 29,600 29,600 162,800

Recognised during the year: Final dividend for 2007: - 15 sen per share, less income tax 26% Special dividend for 2007: - 10 sen per share, less income tax 26% Interim single tier dividend for 2008 - 7.40 sen per share - 7.40 sen per share - 7.40 sen per share Final single tier dividend for 2008 - 11.25 sen per share Special single tier dividend for 2008 - 7.50 sen per share Interim single tier dividend for 2009 - 7.50 sen per share - 7.50 sen per share - 7.50 sen per share

The directors recommend the payment of a final single tier dividend of 7.50 sen per share and a special single tier dividend of 7.50 sen per share on 400,000,000 ordinary shares, amounting to RM30,000,000 and RM30,000,000 respectively which, subject to the approval of members at the forthcoming Annual General Meeting of the Company, will be paid on 27 May 2010 to shareholders registered on the Company's Register of Members at the close of business on 14 May 2010. The financial statements for the current financial year do not reflect these proposed dividends. Such dividends, if approved by the shareholders, will be accounted for in equity as an appropriation of retained profits in the financial year ending 31 December 2010.

BINTULU PORT HOLDINGS BERHAD (380802-T)

145

146

11. Property, plant and equipment

2009 Port Buildings structures RM'000 RM'000 Vessels RM'000 Work-inprogress RM'000

Group

Machinery Bulking and facilities equipment RM'000 RM'000

Office furniture, fittings Motor and vehicles equipment RM'000 RM'000 Total RM'000

31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

NoTES To ThE FINANCIAL STATEMENTS

BINTULU PORT HOLDINGS BERHAD (380802-T)

Cost 72,848 72,848 250,319 84,059 159,876 6,159 19,230 134,179 244,933 610 4,776 84,059 153,069 1,384 (5,382) 10,805 6,397 295 (533) 19,075 486 (516) 185 135,345 (1,166) 65,735 113,468 (15,766) (18) 163,419 781,461 116,243 (7,597) (18) 890,089

At 1 January 2009 Additions Disposals Transfer Reclassification/ adjustments/ write off At 31 December 2009

Accumulated depreciation 20,025 3,618 23,643 10,475 100,312 3,376 12,854 7,354 (5,381) 88,917 89,837 9,478 86,944 3,400 341 (481) 3,260 12,490 1,058 (516) 13,032 43,255 3,364 (1,064) 45,555 265,429 29,586 (7,442) 287,573

At 1 January 2009 Charge for the financial year Disposals At 31 December 2009

Net carrying amount 49,205 150,007 71,205 70,959 2,899 6,198 88,624 163,419 602,516

At 31 December 2009

11. Property, plant and equipment (cont'd.)

2008 Port Buildings structures RM'000 RM'000 Vessels RM'000 Work-inprogress RM'000

Group

Machinery Bulking and facilities equipment RM'000 RM'000

Office furniture, fittings Motor and vehicles equipment RM'000 RM'000 Total RM'000

Cost 71,689 1,159 72,848 (10) 244,933 84,059 (281) 153,069 13 6,397 19,075 135,345 244,372 571 61,237 22,822 138,527 9,359 (2,888) 8,352 5,415 978 (9) 18,603 479 (7) 92,387 5,705 37,253 87,473 50,698 (69,586) (2,850) 65,735 719,703 67,790 (2,904) (3,128) 781,461

At 1 January 2008 Additions Disposals Transfer Reclassification/ adjustments/ write off At 31 December 2008

Accumulated depreciation 16,497 3,528 20,025 10,317 89,837 3,265 9,478 4,918 (2,888) 86,944 269 (9) 3,400 79,520 6,213 84,914 3,140 11,246 1,246 (2) 12,490 40,017 3,238 43,255 241,547 26,781 (2,899) 265,429

At 1 January 2008 Charge for the financial year Disposals At 31 December 2008

Net carrying amount

LAPORAN TAHUNAN 2009 ANNUAL REPORT

NoTES To ThE FINANCIAL STATEMENTS

BINTULU PORT HOLDINGS BERHAD (380802-T)

At 31 December 2008

52,823

155,096

74,581

66,125

2,997

6,585

92,090

65,735

516,032

31 December 2009

147

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

11. Property, plant and equipment (cont'd.)

The Group's buildings and port structure are sited on land which are leased from Bintulu Port Authority. These land leases will expire in the year 2022. Company 2009 Cost At 1 January 2009 Additions At 31 December 2009 Accumulated depreciation At 1 January 2009 Charge during the financial year At 31 December 2009 Net carrying amount At 31 December 2009 2008 Cost At 1 January 2008 Additions Disposal As at 31 December 2008 Accumulated depreciation At 1 January 2008 Charge during the financial year Disposal As at 31 December 2008 Net carrying amount As at 31 December 2008 Property, plant and equipment are acquired by means of: 2009 RM'000 103,775 12,468 116,243 Group 2008 RM'000 51,375 16,415 67,790 Company 2009 2008 RM'000 RM'000 177 3 177 3 15 5 2 (2) 5 24 3 (7) 20 180 5 12 17 20 177 197 Office Equipment RM'000

Cash Payables

148

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

12. Investments in subsidiaries

Company 2009 2008 RM'000 RM'000 340,000 340,000

Unquoted shares in Malaysia, at cost

Details of the subsidiaries which are all incorporated in Malaysia are as follows: Effective equity interest 2009 2008 % % 100 100 100 100 Principal activities Provision of port services at Bintulu Port, Sarawak Provision of bulking installation facilities for palm oil, edible oils, vegetable oils, fats and its by-products.

Name of company Bintulu Port Sdn. Bhd. Biport Bulkers Sdn. Bhd.

13. Intangible assets

Right to operate RM'000

Software RM'000

Total RM'000

2009 Cost At 1 January 2009 Additions At 31 December 2009 Accumulated amortisation At 1 January 2009 Charge during the year At 31 December 2009 Net carrying amount 2008 Cost At 1 January/31 December 2008 Accumulated amortisation At 1 January 2008 Charge during the year At 31 December 2008 Net carrying amount 14,718 981 15,699 8,832 173 712 885 6,165 14,891 1,693 16,584 14,997 24,531 7,050 31,581 15,699 981 16,680 7,851 885 706 1,591 5,541 16,584 1,687 18,271 13,392 24,531 24,531 7,050 82 7,132 31,581 82 31,663

BINTULU PORT HOLDINGS BERHAD (380802-T)

149

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

13. Intangible assets (cont'd.)

Right to operate is the excess of the amount paid for the purchase of the business by the subsidiary of the Company, Bintulu Port Sdn. Bhd., from Bintulu Port Authority over the net assets acquired in accordance with the Privatisation Agreement between the Government of Malaysia, Bintulu Port Authority and Bintulu Port Sdn. Bhd.. Under terms of the Privatisation Agreement, Bintulu Port Sdn. Bhd. is granted license to provide port services for the period of the land lease which expires in year 2022. Intangible assets are acquired by means of: 2009 RM'000 Cash 82 Group 2008 RM'000 Group 2008 RM'000 23,468 (6,700) 16,768

14. Properties held for sale

2009 RM'000 Properties held for sale, at cost Less: Accumulated impairment loss 22,453 (6,700) 15,753

The properties held for sale relate to the houses purchased by a subsidiary, Bintulu Port Sdn. Bhd. in connection with the subsidiary's staff housing project in Bintulu. This project was abandoned in year 2000. In view of this, the subsidiary issued a notice of termination to the developer on 30 June 2003, and took possession of the project site. In November 2003, the former developer, submitted a claim of RM13,881,027 to the subsidiary. Subsequently the claim was revised to RM14,112,905 on 23 June 2004. This claim is disclosed as contingent liabilities in Note 28. Syarikat Perumahan Negara Berhad was appointed as the new developer in 2003 and the construction of the project was completed in 2005. Title to the properties is pending transfer to the subsidiary from the former developer.

15. Trade receivables

Group 2009 2008 RM'000 RM'000 39,522 38,843

Trade receivables

Trade receivables include amounts due from Malaysia LNG Sdn. Bhd., ASEAN Bintulu Fertilizer Sdn. Bhd., MISC Agencies (Sarawak) Sdn. Bhd. and PS Terminal Sdn. Bhd. amounting to RM21,241,094 (2008: RM15,421,310), RM69,828 (2008: RM28,778), RM636,237 (2008: RM331,480) and RM162,038 (2008: RM117,639), respectively. All these companies are subsidiaries of a substantial shareholder, Petroliam Nasional Berhad. The Group's normal trade credit term ranges from 15 to 45 days. Other credit terms are assessed and approved on a case-by-case basis. The Group has no other significant concentration of credit risk that may arise from exposures to a single customer or to groups of customers.

150

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

16. Other receivables

Group 2009 2008 RM'000 RM'000 Current Amount due from Bintulu Port Authority Staff loans Interest receivable Prepayments Sundry receivables Amount due from a subsidiary Non-current Amount due from a subsidiary 81,590 279 3,849 2,715 17,973 3,673 28,489 5,730 3,637 434 20,246 2,291 32,338 2,167 10 7,806 9,983 203 1 204 Company 2009 2008 RM'000 RM'000

Amount due from Bintulu Port Authority represents payment on behalf of Bintulu Port Authority in connection with the construction and upgrading of port structures and other facilities undertaken by Bintulu Port Authority. The amount is unsecured, interest free and repayable on demand. Included in the prepayment is prepaid base rental for the first quarter of 2010 of RM14,164,435 (2008: RM16,987,676) to Bintulu Port Authority.

17. Cash and cash equivalents

2009 RM'000 Money market instruments purchased under repurchase agreements Deposits with: - Licensed banks - Other institution Cash and bank balances Less: Short term deposits pledged for bank guarantees 29,200 49,023 225,501 303,724 9,991 313,715 313,715

Group 2008 RM'000 12,800 222,295 216,395 451,490 10,167 461,657 (2,768) 458,889

Company 2009 2008 RM'000 RM'000 25,018 111,501 136,519 65 136,584 136,584 113,143 107,250 220,393 1,437 221,830 (18) 221,812

Deposits with other institution are monies placed in an Institutional Trust Account created with a trustee company.

BINTULU PORT HOLDINGS BERHAD (380802-T)

151

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

17. Cash and cash equivalents (cont'd.)

The interest rates per annum of short term deposits that were effective as at 31 December 2009 were as follows: Group Company 2009 2008 2009 2008 % % % % Licensed banks Other institution Money market instruments purchased under repurchase agreements 1.30 - 3.47 3.00 - 3.90 5.00 5.00 1.40 2.50 2.20 - 3.20 3.55 - 3.60 5.00 5.00 -

Deposits of the Group and of the Company have an average maturity period of 1 to 365 days (2008: 11 to 245 days) and 92 to 365 days (2008: 78 to 358 days) respectively.

18. Share capital

Group and Company 2009 2008 RM'000 RM'000 Authorised 1,000,000,000 ordinary shares of RM1 each One special rights redeemable preference share of RM1 ("Special Share") Group 2009 2008 RM'000 RM'000 Issued and fully paid Ordinary shares of RM1 each: At beginning and end of financial year One special rights redeemable preference share of RM1: At beginning and end of financial year * The Special Share amounted to RM1. The special share The Special Share, which may only be held by or transferred to the Minister of Finance (Incorporation) or its successors or any Minister representative, or any person acting on behalf of the Government of Malaysia, carries certain rights as provided by Article 15A and 109A of the Company's Articles of Association. These special rights include: (i) (ii) the right to appoint not more than four persons at anytime as directors of the Company. the right to repayment of the capital paid up on the Special Share in priority to any other member in the event of winding-up of the Company. * 400,000 * 400,000 * 400,000 * 400,000 400,000 400,000 400,000 400,000 1,000,000 * 1,000,000 1,000,000 * 1,000,000

Company 2009 2008 RM'000 RM'000

(iii) the right to require the Company to redeem the Special Share at par at any time. Certain matters, in particular, the alteration of specified Articles (including the Articles relating to the limitation on shareholdings), any substantial disposal of assets, amalgamation, merger and takeover, require the prior approval of the holder of the Special Share. The Special Share does not carry any right to vote at General Meetings but the holder is entitled to attend and speak at such meetings.

152 BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

19. Retained earnings

Prior to the year assessment 2008, Malaysian companies adopt the full imputation system. In accordance with the Finance Act 2007 which was gazette on 28 December 2007, companies shall not be entitled to deduct tax on dividend paid, credited or distributed to its shareholders, and such dividends will be exempted from tax in the hands of the shareholders ("single tier system"). However, there is a transitional period of six years, expiring on 31 December 2013, to allow companies to pay franked dividends to their shareholders under limited circumstances. Companies also have an irrevocable option to disregard the Section 108 balance and opt to pay dividends under the single tier system. The change in the tax legislation also provides for the Section 108 balance to be locked-in as at 31 December 2007 in accordance with Section 39 of the Finance Act 2007. The Company has elected for the irrevocable option to disregard the Section 108 balance as at 31 December 2009. Hence, the Company will be able to distribute dividends out of its entire retained earnings under the single tier system.

20. Retirement benefits

The Group operates an unfunded, defined benefit Retirement Benefit Scheme for its employees. The Group's obligations under this scheme are determined based on triennial actuarial valuation using the projected unit credit method. The Retirement Benefit Scheme was last revalued in December 2009. The movements during the financial year in the amount recognised in the balance sheet in respect of the Group's Retirement Benefit Scheme are as follows: Group 2009 2008 RM'000 RM'000 At beginning of the financial year 34,736 31,594 Charge to income statement 5,122 4,498 Contributions paid (1,587) (1,356) At end of the financial year 38,271 34,736 The amount recognised in the Group's balance sheet may be analysed as follows: Group 2009 2008 RM'000 RM'000 41,949 37,354 (3,678) (2,618) 38,271 34,736

Present value of unfunded obligations Unrecognised actuarial losses Liability in the balance sheet

The expenses recognised in the Group's income statement may be analysed as follows: Group 2009 2008 RM'000 RM'000 Current service cost 2,726 2,555 Interest cost 2,396 1,943 Total, included in staff costs (Note 5) 5,122 4,498 The principal actuarial assumptions used in respect of the Group's defined benefit plan were as follows: Group 2009 2008 % % Discount rate Expected rate of salary increase 6.50 6.00 6.50 5.00

BINTULU PORT HOLDINGS BERHAD (380802-T)

153

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009 21. Deferred tax

The components and movement of deferred tax liabilities and assets during the financial year prior to offsetting are as follows: Group At 1.1.2009 RM'000 30,176 (33) (3,619) (9,000) (1,800) (14,452) Charged to Income At Statement 31.12.2009 RM'000 RM'000 690 33 799 (568) 56 320 30,866 (2,820) (9,568) (1,744) (14,132)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Deferred tax liabilities Property, plant and equipment Deferred tax assets Unutilised tax losses Unabsorbed capital allowances Retirement benefits Others Group

At 1.1.2008 RM'000 Deferred tax liabilities Property, plant and equipment Deferred tax assets Unutilised tax losses Unabsorbed capital allowances Retirement benefits Others 22,975 (3,191) (7,900) (1,800) (12,891)

Charged to Income At Statement 31.12.2008 RM'000 RM'000 7,201 (33) ( 428) (1,100) (1,561) 30,176 (33) (3,619) (9,000) (1,800) (14,452)

Deferred tax assets and liabilities are offset when there is a legal enforceable right to set off current tax assets against current liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the balance sheet: 2009 RM'000 (14,132) 13,356 (776) 30,866 (13,356) 17,510 2009 RM'000 131 699 99,475 100,305 2008 RM'000 (14,452) 13,676 (776) 30,176 (13,676) 16,500 2008 RM'000 131 168 99,270 99,569

Deferred tax assets (before offsetting) Offsetting Deferred tax assets (after offsetting) Deferred tax liabilities (before offsetting) Offsetting Deferred tax liabilities (after offsetting)

Deferred tax assets have not been recognised in respect of the following items: Unutilised tax losses Unabsorbed capital allowances Unutilised investment tax allowances

154

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

22. Other Payables

2009 RM'000 Amount due to a subsidiary Amount due to Bintulu Port Authority Accruals Sundry payables Retention money 64,166 7,200 27,739 10,354 109,459

Group

2008 RM'000 100,062 8,638 25,960 5,134 139,794

2009 RM'000

Company

2008 RM'000 593 22 146 761

926 297 132 1,355

Included in accruals and sundry payables of the Group is amount due to Petronas Dagangan Berhad, a subsidiary of a substantial shareholder, Petroliam Nasional Berhad of RM1,567,720 (2008: RM757,434). The amount due to Bintulu Port Authority is unsecured, interest free and repayable on demand.

23. Capital commitments

Capital expenditure not provided for in the financial statements are as follows: Group Approved and contracted for Approved but not contracted for 2009 RM'000 228,011 13,000 241,011 2009 RM'000 105,009 574,250 930,082 1,609,341 2008 RM'000 289,684 56,300 345,984 2008 RM'000 100,378 544,265 1,029,009 1,673,652

24. Lease commitments

Group Lease commitments: - within one year - between one to five years - more than five years

Lease commitments are in respect of leases for land, certain buildings and port structures payable to Bintulu Port Authority. Lease commitments include amounts of RM684,952,430 (2008: RM692,606,943) for which agreements with Bintulu Port Authority have yet to be finalised. The lease will expire on 31 December 2022.

BINTULU PORT HOLDINGS BERHAD (380802-T)

155

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

25. Significant related party transactions

In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions. The significant related party transactions described below were carried out on terms and conditions that are not materially different from that obtainable in transactions with unrelated parties. Group 2009 2008 RM'000 RM'000 Transactions with subsidiaries of a substantial shareholder, Petroliam Nasional Berhad: Rendering of services: Malaysia LNG Sdn. Bhd. ASEAN Bintulu Fertilizer Sdn. Bhd. MISC Agencies (Sarawak) Sdn. Bhd. PS Terminal Sdn. Bhd. Purchase of fuel and lubricants: Petronas Dagangan Berhad 278,304 851 4,633 1,205 (15,106) 254,105 724 3,004 1,378 (16,800)

26. Financial instruments

(a) Financial risk management objectives and policies The Group's overall risk management approach is to minimise the effects of its exposure to interest rate risk, credit risk and liquidity risk. (b) Interest rate risk Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. As the Group has no significant interest-bearing financial assets, the Group's income and operating cash flows are substantially independent of changes in market interest rates. The Group's interestbearing financial assets are mainly short term in nature and have been mostly placed in fixed deposits. (c) Credit risk Other than the amount owing by subsidiaries of Petroliam Nasional Berhad as disclosed in Note 15, the Group does not have other significant concentration of credit risk. The credit risk is minimised and controlled through the application of credit approvals, credit limits and monitoring procedures. (d) Liquidity risk The Group maintains sufficient levels of cash and short-term deposits which are expected to be sufficient to meet its working capital requirements. (e) Fair value The carrying amounts of financial assets and liabilities of the Group and Company at the balance sheet date approximate their fair values.

156

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

27.

Segmental reporting The Group is organised into two main business segments: (i) Provision of port services; and (ii) Provision of bulking installation facilities for palm oil, edible oils, vegetable oils, fats and its by-products. (a) Primary reporting format - business segments For the purpose of segmental reporting, unallocated costs relate to administrative expenses of the holding company. Unallocated assets and liabilities pertain to the holding company's cash and cash equivalents and the group's tax liabilities respectively. Financial year ended 31 December 2009

Provision of port services RM'000 Provision of bulking services RM'000 Group RM'000

Revenue Total revenue - external Results Segment results Interest and investment income Unallocated costs Profit from operations and before tax Tax Profit for the year As at 31 December 2009 Segment assets Unallocated assets Total assets Segment liabilities Unallocated liabilities Total liabilities

Provision of port services

421,862 155,119

17,185 (1,061)

439,047 154,058 22,167 (2,707) 173,518 (44,762) 128,756

729,570

130,254

859,824 154,339 1,014,163 147,301 22,075 169,376

143,089

4,212

Provision of bulking services

Unallocated

Group

RM'000 Other information Capital expenditure Depreciation Amortisation of intangible assets 102,346 24,556 1,687

RM'000 13,720 5,018 -

RM'000 177 12 -

RM'000 116,243 29,586 1,687

BINTULU PORT HOLDINGS BERHAD (380802-T)

157

NoTES To ThE FINANCIAL STATEMENTS

31 December 2009

27.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Segmental reporting (cont'd.) (a) Primary reporting format - business segments (cont'd.) Financial year ended 31 December 2008

Provision of port services RM'000 Provision of bulking services RM'000 Group RM'000

Revenue Total revenue - external Results Segment results Interest and investment income Unallocated costs Profit from operations and before tax Tax Profit for the year As at 31 December 2008 Segment assets Unallocated assets Total assets Segment liabilities Unallocated liabilities Total liabilities

434,569 185,491

14,198 2,160

448,767 187,651 21,217 (2,985) 205,883 (55,272) 150,611

700,979

140,609

841,588 239,839 1,081,427 174,362 26,034 200,396

170,501

3,861

Provision of Provision of bulking port services services RM'000 RM'000

Unallocated RM'000

Group RM'000

Other information Capital expenditure Depreciation Amortisation of intangible assets 58,707 21,869 1,693 9,080 4,910 3 2 67,790 26,781 1,693

(b) Secondary reporting format - geographical segments Segmental analysis of the Group's operation for geographical segments is not provided as the Group operates in a single geographical segment, in Malaysia.

158

BINTULU PORT HOLDINGS BERHAD (380802-T)

NoTES To ThE FINANCIAL STATEMENTS

LAPORAN TAHUNAN 2009 ANNUAL REPORT

31 December 2009

28.

Contingent liabilities (unsecured)

Group

2009 RM'000 Claim from a former developer in connection with staff housing project of a subsidiary 14,113

2008 RM'000 14,113

The claim arose from the decision by the subsidiary to terminate the appointment of the former developer because the former developer abandoned the staff housing project in year 2000. The subsidiary has made claims against the former developer seeking specific performance for the transfer of land titles and settlement of additional costs incurred in completing the staff housing project.

BINTULU PORT HOLDINGS BERHAD (380802-T)

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(This page is deliberately left blank)

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BINTULU PORT HOLDINGS BERHAD (380802-T)

Laporan Pengarah berserta Penyata Kewangan Diaudit 31 Disember 2009

ANNUAL REPORT 2009 LAPORAN TAHUNAN

PENYATA KEWANGAN

Kandungan

Laporan para pengarah Penyata para pengarah Akuan berkanun Laporan juruaudit bertauliah Penyata Pendapatan Lembaran Imbangan Penyata perubahan dalam ekuiti Penyata aliran tunai Nota-nota kepada penyata kewangan

Mukasurat

162 - 164 165 165 166 - 167 168 169 170 171 - 172 173 - 205

BINTULU PORT HOLDINGS BERHAD

(380802-T)

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Para pengarah dengan sukacitanya membentangkan laporan mereka berserta dengan penyata kewangan Kumpulan dan Syarikat yang telah diaudit bagi tahun kewangan berakhir 31 Disember 2009.

Aktiviti-aktiviti utama

Aktiviti utama Syarikat ialah pemegangan pelaburan. Aktiviti-aktiviti utama Kumpulan ialah memberi perkhidmatan pelabuhan di Pelabuhan Bintulu, Sarawak dan menjalankan perniagaan kemudahan bulking bagi minyak kelapa sawit, minyak makan, minyak sayuran, lemak dan produk-produk yang berkaitan. Tidak terdapat sebarang perubahan ketara dalam aktiviti-aktiviti utama tersebut di sepanjang tahun kewangan ini.

Keputusan

Kumpulan RM'000 Keuntungan bagi tahun 128,756 Syarikat RM'000 170,732

Tidak terdapat sebarang pemindahan yang penting kepada atau daripada akaun rizab atau peruntukan di sepanjang tahun kewangan ini. Pada pendapat para pengarah, keputusan operasi Kumpulan dan Syarikat bagi tahun kewangan semasa tidak dipengaruhi secara besaran oleh sebarang butiran, urusniaga atau peristiwa yang penting dan luar biasa.

Dividen

Amaun dividen dibayar oleh Syarikat sejak 31 Disember 2008 adalah seperti berikut: RM'000 Berhubung tahun kewangan berakhir 31 Disember 2008 seperti yang ditunjukkan dalam laporan pengarah bagi tahun berkenaan: Dividen akhir setingkat 11.25 sen sesaham dibayar pada 29 Mei 2009 Dividen khas setingkat 7.50 sen sesaham dibayar pada 29 Mei 2009 Berhubung tahun kewangan berakhir 31 Disember 2009: Dividen interim setingkat 7.50 sen sesaham dibayar pada 4 Ogos 2009 Dividen interim setingkat 7.50 sen sesaham dibayar pada 2 Oktober 2009 Dividen interim setingkat 7.50 sen sesaham dibayar pada 30 Disember 2009 30,000 30,000 30,000 45,000 30,000

Para pengarah mencadang pembayaran dividen akhir setingkat sebanyak 7.50 sen sesaham dan dividen khas setingkat sebanyak 7.50 sen sesaham ke atas 400,000,000 saham biasa, yang berjumlah RM30,000,000 dan RM30,000,000 masing-masingnya dimana, jika dilulus oleh ahli-ahli pada Mesyuarat Agung Tahunan Syarikat yang akan datang, akan dibayar pada 27 Mei 2010 kepada para pemegang saham yang berdaftar sebagai ahli pada penutupan perniagaan pada 14 Mei 2010. Penyata kewangan bagi tahun semasa tidak menggambarkan dividen yang dicadangkan. Dividen tersebut, jika dipersetujui oleh para pemegang saham, akan diambilkira di dalam ekuiti sebagai agihan ke atas keuntungan terkumpul dalam tahun kewangan berakhir 31 Disember 2010.

162

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LAPorAN PArA PENGArAh

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Para pengarah

Nama para pengarah yang memegang jawatan dalam Syarikat sepanjang tempoh sejak tarikh laporan yang lepas adalah seperti berikut: Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah (Pengerusi) Tan Sri Dato Sri Mohd. Zahidi bin Zainuddin Dato' Seri Dr. Hj. Arshad bin Hj. Hashim Dato' Mohamad Norza bin Zakaria Datuk Fong Joo Chung Datuk Hashim bin Ismail Datu Hj. Abang Halmi bin Ikhwan Ahmad Nizam bin Salleh Amir Hamzah bin Azizan Dato' Shamsul Azhar bin Abbas Tun Dato' Seri Hj. Mohd Eusoff bin Chin (Dilantik pada 1 November 2009) (Bersara dan dilantik semula pada 28 April 2009)

(Bersara dan dilantik semula pada 28 April 2009) (Dilantik pada 28 April 2009) (Bersara pada 28 April 2009) (Bersara pada 31 Oktober 2009)

Manfaat para pengarah

Pada akhir tahun kewangan, mahupun pada bila-bila masa sepanjang tahun tersebut, Syarikat tidak menjadi pihak kepada sebarang persetujuan yang matlamatnya ialah bertujuan untuk membolehkan para pengarah Syarikat mendapat manfaat melalui perolehan saham, atau debentur Syarikat atau sebarang badan korporat. Sejak akhir tahun kewangan yang lepas, tidak ada pengarah telah menerima atau berhak menerima sebarang manfaat (selain daripada ganjaran pengarah yang dinyatakan dalam Nota 6 dan 7 pada penyata kewangan) disebabkan oleh sesuatu kontrak yang dibuat oleh Syarikat atau syarikat perbadanan berkaitan dengan pengarah atau dengan firma di mana pengarah tersebut adalah seorang ahli, atau dengan syarikat di mana ia mempunyai kepentingan kewangan yang ketara.

Kepentingan para pengarah

Menurut daftar pegangan saham para pengarah, tiada pengarah yang memegang jawatan pada akhir tahun kewangan mempunyai sebarang kepentingan di dalam saham Syarikat atau badan-badan korporat yang berkaitan dengannya pada tahun kewangan ini.

Lain-lain maklumat berkanun

(a) Sebelum penyata pendapatan dan lembaran imbangan Kumpulan dan Syarikat disediakan, para pengarah mengambil langkah sewajarnya: (i) untuk memastikan bahawa tindakan telah diambil berkaitan dengan penghapuskiraan hutang lapuk dan dalam membuat peruntukan bagi hutang ragu dan berpuashati bahawa tiada sebarang hutang lapuk diketahui dan tiada peruntukan perlu dibuat untuk hutang ragu; dan (ii) untuk memastikan bahawa aset semasa yang mungkin tidak dapat direalisasi nilainya seperti ditunjuk dalam rekod-rekod perakaunan dalam urusan perniagaan biasa telah dikurangkan nilainya kepada hasilaku yang dianggap boleh direalisasi. (b) Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang akan menyebabkan: (i) keperluan untuk menghapuskirakan hutang lapuk atau membuat peruntukan bagi hutang ragu dalam penyata kewangan Kumpulan dan Syarikat; dan (ii) nilai berkaitan aset semasa di dalam penyata kewangan Kumpulan dan Syarikat mengelirukan.

BINTULU PORT HOLDINGS BERHAD (380802-T) 163

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Lain-lain maklumat berkanun (samb.)

(c) Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang timbul yang boleh menyebabkan kepatuhan kepada kaedah penilaian yang wujud bagi penilaian aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak sesuai. (d) Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang tidak dinyatakan dalam laporan ini atau penyata kewangan Kumpulan dan Syarikat yang akan menyebabkan mana-mana jumlah yang dinyatakan di dalam penyata kewangan mengelirukan. (e) Pada tarikh laporan ini, tidak wujud: (i) sebarang cagaran ke atas aset-aset Kumpulan atau Syarikat yang telah timbul sejak akhir tahun kewangan yang menjamin liabiliti pihak lain; atau (ii) sebarang liabiliti luarjangka Kumpulan atau Syarikat yang telah timbul sejak akhir tahun kewangan. (f) Pada pendapat para pengarah: (i) tiada liabiliti luarjangka atau liabiliti lain yang telah dikuatkuasakan atau mungkin akan dikuatkuasakan dalam tempoh dua belas bulan selepas tahun kewangan berakhir, yang akan atau mungkin menjejaskan keupayaan Kumpulan atau Syarikat untuk menunaikan kewajipannya apabila tiba masanya kelak; dan (ii) tiada butiran, urusniaga atau peristiwa yang ketara dan luar biasa yang berlaku dalam tempoh di antara akhir tahun kewangan dan tarikh laporan ini yang mungkin memberi kesan secara besaran kepada keputusan operasi Kumpulan atau Syarikat bagi tahun kewangan di mana laporan ini dibuat.

Juruaudit

Juruaudit, Ernst & Young, telah menyatakan kesanggupan mereka untuk menerima perlantikan semula. Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah bertarikh 25 Februari 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Kuala Lumpur, Malaysia

Datuk Fong Joo Chung

164

BINTULU PORT HOLDINGS BERHAD (380802-T)

Menurut kehendak Seksyen 169(15) Akta Syarikat, 1965

LAPORAN TAHUNAN 2009 ANNUAL REPORT

PENYATA PArA PENGArAh

Kami, Tan Sri Dr. Wan Abdul Aziz dan Datuk Fong Joo Chung, dua daripada para pengarah Bintulu Port Holdings Berhad, dengan ini menyatakan bahawa, pada pendapat para pengarah, penyata kewangan yang dibentangkan di mukasurat 168 hingga 205 telah disediakan menurut peruntukan Akta Syarikat, 1965 dan Piawaian Pelaporan Kewangan yang berkenaan di Malaysia untuk memberi gambaran yang benar dan saksama mengenai kedudukan kewangan Kumpulan dan Syarikat pada 31 Disember 2009 dan keputusan serta aliran tunai Kumpulan dan Syarikat bagi tahun berakhir pada tarikh tersebut. Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah bertarikh 25 Februari 2010.

Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah Kuala Lumpur, Malaysia

Datuk Fong Joo Chung

AKuAN bErKANuN

Menurut kehendak Seksyen 169(16) Akta Syarikat, 1965

Saya, Rambli bin Mashar, pegawai yang terutamanya bertanggungjawab ke atas pengurusan kewangan Bintulu Port Holdings Berhad, dengan takzim dan iklas mengaku bahawa penyata kewangan yang dibentangkan di mukasurat 168 hingga 205 adalah, pada pendapat saya betul, dan saya membuat pengakuan ini sesungguhnya dengan hemat mempercayai bahawa ianya benar dan menurut peruntukan Akta Akuan Berkanun, 1960. Ditandatangani dan diakui sesungguhnya oleh Rambli bin Mashar di Kuala Lumpur di Wilayah Persekutuan pada 25 Februari 2010.

Rambli bin Mashar

Di hadapan saya, R Vasugi Ammal, PJK W 480 Pesuruhjaya Sumpah

BINTULU PORT HOLDINGS BERHAD (380802-T)

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LAPorAN juruAudiT bErTAuLiAh

LAPORAN TAHUNAN 2009 ANNUAL REPORT

kepada pemegang-pemegang saham Bintulu Port Holdings Berhad (Diperbadankan di Malaysia)

Laporan terhadap penyata kewangan

Kami telah mengaudit penyata kewangan Bintulu Port Holdings Berhad, yang terdiri daripada lembaran imbangan Kumpulan dan Syarikat pada 31 Disember 2009, penyata pendapatan, penyata perubahan dalam ekuiti dan penyata aliran tunai Kumpulan dan Syarikat bagi tahun berakhir, dan ringkasan dasar-dasar perakaunan penting serta nota-nota kepada penyata kewangan seperti yang dibentangkan di muka surat 168 hingga 205.

Tanggungjawab lembaga pengarah terhadap penyata kewangan

Para pengarah Syarikat bertanggungjawab dalam penyediaan serta penyampaian yang saksama penyata kewangan tersebut menurut Akta Syarikat, 1965 dan Piawaian Pelaporan Kewangan yang berkenaan di Malaysia. Tanggungjawab ini termasuk: merangka, melaksana, dan mengekal kawalan dalaman Syarikat yang bersesuaian dengan penyediaan dan penyampaian penyata kewangan yang saksama yang bebas daripada salah nyata yang ketara, sama ada disebabkan oleh penipuan atau kesilapan; pemilihan dan penggunaan piawaian dasar-dasar perakaunan yang sesuai; dan membuat anggaran perakaunan yang munasabah mengikut keadaan.

Tanggungjawab juruaudit

Tanggungjawab kami adalah untuk mengemukakan pendapat kami berdasarkan audit kami terhadap penyata pendapatan. Kami melaksanakan audit mengikut piawaian pengauditan yang diluluskan di Malaysia. Piawaian tersebut memerlukan kami mengikut garis panduan yang beretika dan merancang serta melaksanakan audit untuk mencapai kepastian munasabah mengenai samada penyata kewangan tersebut bebas daripada salah nyata yang ketara. Sesuatu audit melibatkan melaksana prosedur untuk memperoleh bukti audit mengenai amaun dan penyataan dalam penyata kewangan. Prosedur-prosedur yang dipilih bergantung pada pertimbangan kami, termasuk penilaian risiko salah nyata yang ketara pada penyata kewangan, sama ada disebabkan oleh penipuan atau kesilapan. Dalam membuat penilaian risiko tersebut, kami mempertimbangkan kawalan dalaman yang bersesuaian kepada Syarikat dalam penyediaan dan penyampaian penyata kewangan yang saksama untuk merangka prosedur audit yang sesuai mengikut keadaan-keadaan tertentu, tetapi bukan bertujuan untuk menyatakan pendapat terhadap tahap keberkesanan kawalan dalaman Syarikat. Sesuatu audit juga termasuk penilaian kesesuaian dasar-dasar perakaunan yang digunapakai dan kewajaran anggarananggaran perakaunan yang dibuat oleh para pengarah, serta penilaian pembentangan penyata kewangan secara menyeluruh. Kami percaya bahawa bukti audit yang kami peroleh adalah mencukupi dan bersesuaian untuk memberi asas pendapat kami.

Pendapat

Pada pendapat kami, penyata kewangan tersebut telah disediakan dengan wajarnya menurut Akta Syarikat, 1965 dan Piawaian Pelaporan Kewangan yang berkenaan di Malaysia untuk memberi gambaran yang benar dan saksama mengenai kedudukan kewangan Kumpulan dan Syarikat pada 31 Disember 2009 dan prestasi kewangan serta aliran tunai Kumpulan dan Syarikat untuk tahun berakhir pada tarikh tersebut.

166

BINTULU PORT HOLDINGS BERHAD (380802-T)

kepada pemegang-pemegang saham Bintulu Port Holdings Berhad (samb.) (Diperbadankan di Malaysia)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

LAPorAN juruAudiT bErTAuLiAh

Laporan terhadap keperluan perundangan dan badan seliaan lain

Menurut keperluan Akta Syarikat, 1965 di Malaysia, kami juga melaporkan perkara-perkara berikut: (a) Pada pendapat kami, rekod perakaunan dan lain-lain rekod serta daftar-daftar yang dikehendaki oleh Akta untuk disimpan oleh Syarikat dan subsidiari-subsidiarinya telah disimpan dengan wajar menurut peruntukan-peruntukan Akta tersebut. (b) Kami berpuas hati bahawa penyata kewangan subsidiari-subsidiari yang telah disatukan dengan penyata kewangan Syarikat adalah dalam bentuk dan kandungan yang sesuai dan teratur bagi tujuan penyediaan penyata kewangan disatukan dan kami telah menerima maklumat dan penjelasan yang memuaskan sebagaimana yang kami perlukan untuk tujuan tersebut. (c) Laporan juruaudit terhadap penyata kewangan subsidiari-subsidiari tidak tertakluk kepada sebarang syarat dan tidak mengandungi sebarang teguran yang perlu dibuat di bawah Seksyen 174(3) Akta tersebut.

hal-hal lain

Laporan ini bertujuan hanya untuk pemegang-pemegang saham Syarikat, sebagai sebuah badan, menurut peruntukan Seksyen 174 Akta Syarikat, 1965 di Malaysia dan bukan untuk tujuan lain. Kami tidak bertanggungjawab kepada mana-mana pihak lain ke atas kandungan laporan ini. Ernst & Young AF: 0039 Akauntan Bertauliah Kuala Lumpur, Malaysia 25 Februari 2010 Habibah bte Abdul No. 1210/05/10(J) Akauntan Bertauliah

BINTULU PORT HOLDINGS BERHAD (380802-T)

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PENYATA PENdAPATAN

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Bagi tahun berakhir 31 Disember 2009

Kumpulan 2009 2008 RM'000 RM'000 439,047 17,556 (57,110) (1,687) (5,682) (29,586) (12,500) (15,282) (3,696) (113,372) (21,834) (5,017) (17,319) 173,518 (44,762) 128,756 448,767 21,217 (59,465) (1,693) (5,284) (26,781) (20,893) (4,369) (100,161) (19,187) (5,356) (20,912) 205,883 (55,272) 150,611 Syarikat 2009 2008 RM'000 RM'000 220,350 10,413 (639) (12) (2) (5) (2,262) 227,843 (57,111) 170,732 220,350 10,541 (834) (2) (2) (2,249) 227,804 (59,477) 168,327

Nota

Pendapatan Lain-lain pendapatan Kos staf Pelunasan aset tak ketara Sewa bot Susutnilai hartanah, loji dan peralatan Kos pengorekan Bahan api, elektrik dan utiliti Insurans Sewa pajak kemudahan pelabuhan Baik pulih dan penyelenggaraan Kos stevedor Lain-lain perbelanjaan Keuntungan sebelum cukai Cukai Keuntungan bagi tahun Pendapatan sesaham Asas (sen)

3 4 5 13

11

6 8

9

32.19

37.65

Nota-nota yang disediakan merupakan sebahagian asasi penyata ini.

168

BINTULU PORT HOLDINGS BERHAD (380802-T)

LEmbArAN imbANGAN

pada 31 Disember 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Nota Aset Aset Tak Semasa Hartanah, loji dan peralatan Pelaburan dalam subsidiari Aset tak ketara Lain-lain penghutang Aset cukai tertunda

Kumpulan 2009 2008 RM'000 RM'000

Syarikat 2009 2008 RM'000 RM'000

11 12 13 16 21

602,516 13,392 776 616,684

516,032 14,997 776 531,805

180 340,000 81,590 421,770

15 340,000 340,015

Aset Semasa Hartanah dipegang untuk jualan Penghutang perdagangan Lain-lain penghutang Cukai boleh dituntut semula Tunai dan setara tunai

14 15 16 17

15,753 39,522 28,489 313,715 397,479 1,014,163

16,768 38,843 32,338 16 461,657 549,622 1,081,427

9,983 136,584 146,567 568,337

204 221,830 222,034 562,049

Jumlah aset Ekuiti dan liabiliti Ekuiti diagihkan kepada pemegang ekuiti Syarikat Modal saham Premium saham Keuntungan terkumpul Jumlah Ekuiti Liabiliti Tak Semasa Manfaat persaraan Liabiliti cukai tertunda Liabiliti Semasa Lain-lain pemiutang Cukai berbayar Jumlah liabiliti Jumlah ekuiti dan liabiliti 18 19

400,000 92,950 351,837 844,787

400,000 92,950 388,081 881,031

400,000 92,950 73,457 566,407

400,000 92,950 67,725 560,675

20 21

38,271 17,510 55,781 109,459 4,136 113,595 169,376 1,014,163

34,736 16,500 51,236 139,794 9,366 149,160 200,396 1,081,427

1,355 575 1,930 1,930 568,337

761 613 1,374 1,374 562,049

22

Nota-nota yang disediakan merupakan sebahagian asasi penyata ini.

BINTULU PORT HOLDINGS BERHAD (380802-T)

169

PENYATA PErubAhAN dALAm EKuiTi

Bagi tahun berakhir 31 Disember 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Nota Kumpulan Pada 1 Januari 2008 Keuntungan bagi tahun Dividen Pada 31 Disember 2008 Pada 1 Januari 2009 Keuntungan bagi tahun Dividen Pada 31 Disember 2009 Syarikat Pada 1 Januari 2008 Keuntungan bagi tahun Dividen Pada 31 Disember 2008 Pada 1 Januari 2009 Keuntungan bagi tahun Dividen Pada 31 Disember 2009

Premium Saham Keuntungan Modal Tak Boleh Terkumpul Saham Diagih Boleh Diagih RM'000 RM'000 RM'000

Jumlah RM'000

10

400,000 400,000 400,000 400,000

92,950 92,950 92,950 92,950

400,270 150,611 (162,800) 388,081 388,081 128,756 (165,000) 351,837

893,220 150,611 (162,800) 881,031 881,031 128,756 (165,000) 844,787

10

10

400,000 400,000 400,000 400,000

92,950 92,950 92,950 92,950

62,198 168,327 (162,800) 67,725 67,725 170,732 (165,000) 73,457

555,148 168,327 (162,800) 560,675 560,675 170,732 (165,000) 566,407

10

Nota-nota yang disediakan merupakan sebahagian asasi penyata ini.

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BINTULU PORT HOLDINGS BERHAD (380802-T)

Bagi tahun berakhir 31 Disember 2009

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PENYATA ALirAN TuNAi

Syarikat 2009 2008 RM'000 RM'000

Kumpulan 2009 2008 RM'000 RM'000 Aliran tunai daripada aktiviti-aktiviti operasi Keuntungan sebelum cukai Pelarasan untuk: Peruntukan bagi manfaat persaraan Susutnilai hartanah, loji dan peralatan Pelunasan aset tak ketara Kerja dalam pelaksanaan dihapuskirakan Keuntungan/(Kerugian) atas pelupusan hartanah, loji dan peralatan Kerugian atas pelupusan hartanah dipegang untuk jualan Pendapatan faedah Pendapatan dividen kasar Keuntungan/(Kerugian) operasi sebelum perubahan modal kerja Perubahan dalam modal kerja : Hartanah dipegang untuk jualan Penghutang Faedah persaraan dibayar Pemiutang Aliran tunai daripada/ (digunakan untuk) operasi Cukai dibayar Aliran tunai bersih daripada/ (digunakan untuk) aktiviti-aktiviti operasi

173,518 5,122 29,586 1,687 18 (323)

205,883 4,498 26,781 1,694 1,838 (397)

227,843 12 -

227,804 2 5

30 (14,913) 194,725 876 5,449 (1,588) (43,918) 155,544 (48,964) 106,580

166 (20,433) 220,030 1,308 (20,432) (1,357) 32,372 231,921 (52,123) 179,798

(10,413) (220,350) (2,908) (10) 594 (2,324) (2,061) (4,385)

(10,541) (220,350) (3,080) (652) (3,732) (2,721) (6,453)

BINTULU PORT HOLDINGS BERHAD (380802-T)

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PENYATA ALirAN TuNAi

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Bagi tahun berakhir 31 Disember 2009 (samb.)

Kumpulan 2009 2008 RM'000 RM'000 Aliran tunai daripada aktiviti-aktiviti pelaburan Terimaan daripada subsidiari Pembelian hartanah, loji dan peralatan Pembelian aset tak ketara Faedah diterima Pertambahan pelaburan dalam subsidiari Hasil daripada pelupusan hartanah, loji dan peralatan Hasil daripada pelupusan hartanah dipegang untuk jualan Dividen bersih diterima Aliran tunai bersih (digunakan untuk) / daripada aktiviti-aktiviti pelaburan Aliran tunai daripada aktiviti-aktiviti pembiayaan Pengurangan deposit dicagar sebagai sekuriti untuk fasiliti pembankan Dividen dibayar Aliran tunai bersih digunakan untuk aktiviti-aktiviti pembiayaan Perubahan bersih tunai dan setara tunai Tunai dan setara tunai pada permulaan tahun kewangan (Nota 17) Tunai dan setara tunai pada akhir tahun kewangan (Nota 17) Syarikat 2009 2008 RM'000 RM'000

(103,421) (82) 13,749 122 110 (89,522)

(51,375) 22,449 402 176 (28,348)

(89,395) (177) 8,449 165,262 84,139

(3) 11,156 (30,000) 163,059 144,212

2,768 (165,000) (162,232)

15 (162,800) (162,785)

18 (165,000) (164,982)

(162,800) (162,800)

(145,174)

(11,335)

(85,228)

(25,041)

458,889

470,224

221,812

246,853

313,715

458,889

136,584

221,812

Nota-nota yang disediakan merupakan sebahagian asasi penyata ini.

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1.

Maklumat korporat

Aktiviti utama Syarikat ialah pemegangan pelaburan. Aktiviti-aktiviti utama Kumpulan ialah memberi perkhidmatan pelabuhan di Pelabuhan Bintulu, Sarawak dan menjalankan perniagaan kemudahan bulking bagi minyak kelapa sawit, minyak makan, minyak sayuran, lemak dan produk-produk yang berkaitan. Syarikat adalah syarikat awam liabiliti terhad yang diperbadankan dan bermastautin di Malaysia dan disenaraikan di Pasaran Utama Bursa Malaysia Securities Berhad. Pejabat berdaftar dan tempat perniagaan utama Syarikat terletak di Lot 15, Blok 20, Kemena Land District, 12th Mile, Jalan Tanjung Kidurong, 97008 Bintulu, Sarawak. Penyata kewangan ini telah diluluskan untuk diterbit oleh Lembaga Pengarah menurut resolusi para pengarah pada 25 Februari 2010.

2.

Dasar-dasar perakaunan penting

2.1 Asas penyediaan Penyata kewangan ini mematuhi Piawaian Pelaporan Kewangan dan peruntukan Akta Syarikat, 1965 di Malaysia. Penyata kewangan Kumpulan dan Syarikat ini juga telah disediakan berasaskan kos sejarah. Penyata kewangan ini dinyatakan dalam Ringgit Malaysia (RM) dan semua nilai Ringgit Malaysia dibundarkan kepada ribu yang terdekat (RM'000) kecuali dinyatakan sebaliknya. 2.2 Ringkasan dasar-dasar perakaunan penting (a) Asas penyatuan Penyata kewangan yang disatukan merangkumi penyata kewangan Syarikat dan Syarikatsyarikat subsidiarinya pada tarikh lembaran imbangan. Penyata kewangan Syarikat-syarikat subsidiari telah disediakan bagi tempoh perakaunan yang sama dengan Syarikat. Syarikat-syarikat subsidiari disatukan daripada tarikh pengambilalihan, iaitu tarikh dimana Kumpulan mempunyai kepentingan kawalan dan terus disatukan sehingga tarikh kawalan tersebut tamat. Dalam menyediakan penyata kewangan disatukan, baki antara syarikat dalam Kumpulan, urusniaga dan hasil laba atau kerugian tidak direalisasi dihapuskan sepenuhnya. Dasar perakaunan yang seragam diterimapakai di dalam penyata kewangan disatukan untuk urusniaga dan peristiwa dalam keadaan yang serupa. Pengambilalihan subsidiari diambilkira mengguna kaedah perakaunan pengambilalihan kecuali satu subsidiari yang diambilalih mengguna kaedah perakaunan penggabungan. Mengikut kaedah perakaunan penggabungan, kos pelaburan dalam buku Syarikat direkodkan pada nilai nominal saham diterbitkan. Keputusan subsidiari yang digabung diambilkira seolaholah penggabungan tersebut telah berlaku sepanjang tahun kewangan semasa dan tahuntahun kewangan sebelumnya. Sebarang hasil perbezaan kredit dikelaskan sebagai ekuiti dan dianggap sebagai rizab yang tidak boleh diagihkan. Sebarang hasil perbezaan debit diselaraskan dengan rizab yang bersesuaian.

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Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (a) Asas penyatuan (samb.) Kaedah perakaunan pengambilalihan melibatkan pengagihan kos pengambilalihan kepada nilai saksama aset yang diperoleh, liabiliti dan liabiliti luarjangka diandaikan pada tarikh pengambilalihan. Kos sesuatu pengambilalihan dikira sebagai aggregat nilai saksamanya, pada tarikh pertukaran, bagi aset yang diperolehkan, liabiliti yang terlibat atau diandaikan dan instrumen ekuiti yang diterbitkan, termasuk kos-kos yang menyumbang secara langsung kepada pengambilalihan tersebut. Sebarang lebihan daripada kos pengambilalihan atas kepentingan Kumpulan dalam nilai saksama bersih aset yang dikenalpasti, liabiliti dan liabiliti luarjangka mewakili muhibah. Sebarang lebihan terhadap kepentingan Kumpulan dalam nilai saksama bersih aset yang dikenalpasti, liabiliti dan liabiliti luarjangka atas kos pengambilalihan diiktiraf dalam penyata pendapatan dengan serta merta. (b) Aset tak ketara (i) Hak untuk operasi Hak untuk operasi adalah berkaitan dengan lebihan harga belian perniagaan oleh Syarikat subsidiarinya daripada Lembaga Pelabuhan Bintulu ke atas aset bersih yang diambilalih berdasar pada Perjanjian Penswastaan antara Kerajaan Malaysia, Lembaga Pelabuhan Bintulu dan subsidiari Kumpulan. Di bawah terma Perjanjian Penswastaan tersebut, syarikat subsidiari telah diberi lesen untuk memberi perkhidmatan pelabuhan sehingga tamat tempoh sewa pajak dalam tahun 2022. Hak untuk operasi mempunyai jangka hayat kegunaan yang terhad dan dinyata pada kos ditolak pelunasan dan kemerosotan nilai. Dasar perakaunan untuk pengiktirafan dan penilaian kerugian kemerosotan nilai adalah seperti dinyatakan dalam Nota 2.2(i). Hak untuk operasi dilunaskan mengikut kaedah garis lurus sepanjang anggaran hayat kegunaannya selama dua puluh lima tahun. (ii) Perisian Perisian yang diperoleh secara berasingan dinilai pada pengiktirafan permulaan atas kos. Perisian mempunyai jangka hayat kegunaan yang terhad dan dinyata pada kos tolak pelunasan terkumpul dan kemerosotan nilai. Dasar perakaunan untuk pengiktirafan dan penilaian kerugian kemerosotan nilai adalah seperti dinyatakan dalam Nota 2.2(i). Perisian dilunaskan mengikut kaedah garis lurus sepanjang anggaran hayat kegunaannya selama sepuluh tahun. (c) Pelaburan dalam subsidiari Pelaburan Syarikat dalam Syarikat-syarikat subsidiari dinyatakan pada kos setelah ditolak kerugian rosotnilai. Dasar perakaunan untuk pengiktirafan dan penilaian kerugian kemerosotan nilai dinyatakan dalam Nota 2.2(i).

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2.

Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (c) Pelaburan dalam subsidiari (samb.) Semasa penjualan pelaburan berkenaan, perbezaan di antara perolehan bersih daripada penjualan dan nilai bawaan dicaj atau dikredit kepada penyata pendapatan. (d) Hartanah, loji dan peralatan dan susutnilai Semua hartanah, loji dan peralatan pada permulaannya direkodkan pada kos. Kos-kos berikutnya adalah dimasuk dalam amaun bawaan aset atau diiktiraf sebagai aset berasingan, sebagaimana bersesuaian, hanya bila terdapat kemungkinan manfaat ekonomi masa hadapan berkaitan dengan aset tersebut akan membawa sumbangan kepada Kumpulan dan Syarikat dan kos aset tersebut boleh dinilai sewajarnya. Amaun bawaan untuk bahagian yang diganti tidak diiktirafkan. Semua kos berkaitan pembaikan dan penyelenggaraan dicaj kepada penyata pendapatan dalam tempoh kewangan ianya berlaku. Berikutan kepada pengiktirafan, hartanah, loji dan peralatan dinyatakan pada kos tolak susutnilai terkumpul dan sebarang kerugian rosotnilai terkumpul. Kerja dalam pelaksanaan tidak disusutnilaikan. Lain-lain hartanah, loji dan peralatan disusutnilai mengikut kaedah garis lurus bagi menghapuskirakan kos setiap aset kepada nilai sisa sepanjang anggaran hayat kegunaannya pada kadar tahunan berikut: Bangunan dan kemudahan bulking Loji dan peralatan Kenderaan bermotor Perabot, kelengkapan dan peralatan pejabat Kapal 4% 10% - 20% 10% - 20% 10% - 13% 5% - 7%

Bangunan-bangunan dan struktur-struktur pelabuhan disusutnilai sepanjang jangka masa pajakan yang akan tamat dalam tahun 2022. Nilai sisa, kegunaan jangka hayat dan kaedah susutnilai disemak semula pada setiap akhir tahun kewangan untuk memastikan amaun, kaedah dan tempoh susutnilai adalah konsisten dengan anggaran terdahulu dan jangkaan kebergunaan aset pada masa hadapan yang terkandung dalam butiran hartanah, loji dan peralatan. Hartanah, loji dan peralatan tidak diiktiraf sebagai aset semasa pelupusan atau apabila tidak terdapat lagi manfaat ekonomi masa depan dijangka daripada penggunaannya atau pelupusan tersebut. Perbezaan diantara terimaan bersih daripada pelupusan, sekiranya ada, dan amaun bersih bawaan diiktiraf dalam penyata pendapatan. (e) Hartanah dipegang untuk jualan Hartanah dipegang untuk jualan dinyata pada kos dan nilai bersih terrealis yang mana rendah. Kos hartanah dipegang untuk jualan merangkumi perbelanjaan untuk memperolehi tanah, kos langsung dan pengagihan bersesuaian kos-kos bersama yang berkaitan untuk memajukan hartanah sehingga penyiapannya. Sebarang keuntungan atau kerugian atas pelupusan hartanah dipegang untuk jualan diiktiraf dalam penyata pendapatan dalam tahun ianya berlaku.

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Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (f) Cukai pendapatan Cukai pendapatan pada penyata pendapatan bagi tahun terdiri daripada cukai semasa dan cukai tertunda. Cukai semasa adalah cukai pendapatan yang dijangka dibayar ke atas keuntungan bercukai pada tahun kewangan dan dikira mengikut kadar cukai yang telah diaktakan pada tarikh lembaran imbangan. Cukai tertunda diperuntukkan mengguna kaedah liabiliti ke atas perbezaan sementara pada tarikh lembaran imbangan di antara asas cukai bagi aset dan liabiliti dan nilai bawaan dalam penyata kewangan. Mengikut prinsip, liabiliti cukai tertunda diiktiraf untuk semua perbezaan sementara bercukai dan aset cukai tertunda diiktiraf untuk semua perbezaan sementara deduktible, kerugian cukai dan kredit cukai yang belum digunakan setakat mana kemungkinan terdapat keuntungan bercukai untuk digunakan atas perbezaan sementara deduktible, kerugian cukai dan kredit cukai yang belum digunakan boleh digunapakai. Cukai tertunda tidak diiktirafkan jika perbezaan sementara timbul dari muhibah ataupun muhibah negatif atau dari pengiktirafan asal sesuatu aset atau liabiliti di dalam transaksi yang bukan kombinasi perniagaan dan pada masa transaksi, tidak menjejaskan keuntungan perakaunan atau keuntungan bercukai. Cukai tertunda dikira pada kadar cukai yang dijangka akan diguna dalam tempoh mana aset direalisasi atau liabiliti diselesaikan, berdasar pada kadar cukai yang diaktakan atau hampir diaktakan pada tarikh lembaran imbangan. Cukai tertunda diiktiraf sebagai pendapatan atau perbelanjaan dan diambilkira dalam penyata pendapatan bagi tempoh yang dinyatakan, kecuali jika ianya timbul daripada transaksi yang diiktiraf secara langsung dalam ekuiti, dan dalam kes tersebut, cukai tertunda juga diiktiraf terus dalam ekuiti. (g) Manfaat Pekerja (i) Manfaat Jangka Pendek Upah, gaji, bonus dan sumbangan keselamatan sosial diiktiraf sebagai perbelanjaan dalam tahun di mana perkhidmatan yang berkaitan telah diberi oleh para pekerja. Gantirugi ketidakhadiran terkumpul jangka pendek seperti bayaran cuti tahunan diiktiraf apabila perkhidmatan yang diberi oleh para pekerja akan menambah kelayakannya ke atas gantirugi ketidakhadiran masa hadapan dan gantirugi ketidakhadiran tidak terkumpul jangka pendek seperti cuti sakit diiktiraf apabila ketidakhadiran berlaku. (ii) Skim Sumbangan Tetap Skim sumbangan tetap adalah pelan manfaat persaraan dimana Kumpulan membayar sumbangan tetap ke dalam dana berasingan yang tidak mempunyai obligasi undangundang atau obligasi konstruktif untuk membayar sumbangan-sumbangan selebihnya sekiranya dana tidak mencukupi untuk membayar kesemua manfaat pekerja berkaitan dengan perkhidmatan pekerja dalam tahun kewangan semasa dan tahun kewangan sebelumnya. Sumbangan ini diambilkira sebagai perbelanjaan dalam penyata pendapatan apabila ianya berlaku. Seperti yang dikehendaki oleh undang-undang, syarikat-syarikat di Malaysia memberi sumbangan kepada skim persaraan negara, Kumpulan Wang Simpanan Pekerja (KWSP).

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2.

Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (g) Manfaat Pekerja (samb.) (iii) Manfaat Persaraan - Pelan Manfaat Tetap Kumpulan mengendalikan Skim Manfaat Persaraan tidak berdana untuk pekerjanya. Manfaat tersebut dibayar berdasar pada gaji akhir yang diterima oleh pekerja dan bilangan tahun perkhidmatan dengan Kumpulan. Di bawah Skim ini, peruntukan kos manfaat persaraan dibuat dalam lembaran imbangan Kumpulan berdasarkan penilaian aktuari sekali setiap tiga tahun dengan mengguna kaedah unit kredit unjuran. Mengikut kaedah ini, peruntukan kos manfaat persaraan dicaj kepada penyata pendapatan.Tanggungan ini dikira pada nilai terkini anggaran pengaliran keluar tunai masa depan mengguna pulangan pada tarikh lembaran imbangan sekuriti kerajaan yang mempunyai tarikh matang menghampiri terma tanggungan Kumpulan. Laba dan kerugian aktuari berlaku disebabkan perubahan dalam andaian aktuari dan perbezaan diantara andaian aktuari dengan kejadian sebenar. Laba dan kerugian berkenaan dikredit atau dicaj kepada penyata pendapatan ke atas tempoh baki purata hayat perkhidmatan dijangka bagi seseorang pekerja yang menyertai pelan tersebut. (h) Pengiktirafan Pendapatan Pendapatan diiktiraf apabila kemungkinan manfaat ekonomi berkaitan dengan transaksi berpindah kepada Kumpulan dan amaun pendapatan tersebut boleh dianggarkan dengan munasabah. (i) Pendapatan daripada operasi pelabuhan Pendapatan daripada operasi pelabuhan diiktiraf setelah ditolak rebet berdasarkan asas akruan apabila perkhidmatan tersebut dilaksanakan. (ii) Pendapatan daripada kemudahan bulking Pendapatan daripada kemudahan bulking diiktiraf setelah ditolak diskaun berdasarkan asas akruan apabila perkhidmatan tersebut dilaksanakan. (iii) Faedah pendapatan Pendapatan faedah diiktiraf mengikut asas pembahagian masa yang menunjukkan pulangan efektif aset tersebut. (iv) Pendapatan dividen Pendapatan dividen diiktiraf apabila hak pemegang saham untuk menerima bayaran telah terbukti.

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Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (i) Rosotnilai aset bukan kewangan Nilai bawaan aset, selain aset cukai tertunda disemak semula pada setiap tarikh lembaran imbangan untuk menentukan wujud sebarang petanda rosotnilai. Jika wujud sebarang petunjuk, `asset recoverable amount' akan dianggarkan untuk menentukan amaun kerugian rosotnilai. Bagi aset tak ketara yang mempunyai kegunaan hayat yang tidak tetap dan aset tak ketara yang belum dapat digunakan, `recoverable amount' dianggar pada setiap tarikh lembaran imbangan atau lebih kerap apabila petunjuk rosotnilai dapat dikenalpasti. Bagi tujuan pengujian rosotnilai aset-aset tersebut, `recoverable amount' ditentukan berdasar pada aset individu melainkan terdapat aset yang tidak menjana aliran tunai yang sebahagian besarnya bebas daripada aset-aset lain. Sekiranya terdapat perkara sebegini, `recoverable amount' ditentukan bagi unit janaan tunai (UJT) dimana aset tergolong. `Asset recoverable amount' adalah nilai aset atau nilai saksama unit janaan tunai (UJT) tolak kos jualan yang mana tinggi dan nilai dalam penggunaan. Dalam menaksir nilai dalam penggunaan, anggaran aliran tunai masa depan didiskaunkan kepada nilai terkini mengguna kadar diskaun sebelum cukai yang menggambarkan penilaian pasaran semasa nilai masa wang dan risiko spesifik kepada aset. Sekiranya amaun bawaan sesuatu aset melebihi `recoverable amount', aset tersebut dianggap rosot dan diturunkan nilai kepada `recoverable amount'. Kerugian rosotnilai bagi sesuatu aset dibalik semula jika, dan hanya sekiranya, terdapat perubahan dalam anggaran yang digunakan untuk menentukan `asset recoverable amount' sejak kerugian rosotnilai terakhir diiktirafkan. Amaun bawaan aset akan dinaikkan kepada `recoverable amount' yang disemak semula, melainkan amaun tersebut tidak melebihi amaun bawaan yang boleh ditentukan (pelunasan bersih atau susutnilai) sekiranya tiada kerugian rosotnilai telah diiktirafkan bagi aset tersebut dalam tahun-tahun sebelumnya. Pembalikkan kerugian rosotnilai sesuatu aset diambilkira dalam penyata pendapatan. (j) Sewa pajak operasi Sewa pajak aset di mana sebahagian besar risiko dan ganjaran pemilikan ditanggung oleh pemilik aset dikelaskan sebagai sewa pajak operasi. Bayaran yang dibuat bagi sewa pajak operasi diiktiraf sebagai perbelanjaan mengikut kaedah garis lurus sepanjang jangka pajakan. (k) Peruntukan liabiliti Peruntukan liabiliti diiktiraf apabila Kumpulan mempunyai tanggungan semasa akibat daripada kejadian lampau dan kemungkinan penggunaan sumber yang mempunyai manfaat ekonomi diperlukan untuk menyelesaikan tanggungan tersebut, dan jumlah anggaran yang munasabah boleh dibuat. Peruntukan diteliti semula pada setiap tarikh lembaran imbangan dan diselaraskan untuk menggambar anggaran semasa yang terbaik.

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2.

Dasar-dasar perakaunan penting (samb.)

2.2 Ringkasan dasar-dasar perakaunan penting (samb.) (l) Instrumen-instrumen kewangan Instrumen-instrumen kewangan diiktiraf dalam lembaran imbangan apabila Kumpulan menjadi salah satu pihak kepada peruntukan kontrak instrumen tersebut. Instrumeninstrumen kewangan dikelaskan sebagai liabiliti atau ekuiti menurut kandungan perjanjian kontrak berkenaan. Kaedah pengiktirafan instrumen-instrumen kewangan dalam lembaran imbangan dinyatakan dalam setiap dasar perakaunan yang berkaitan dengan setiap butiran. (i) Penghutang Penghutang dibawa pada nilai yang dijangka boleh direalisasi. Hutang lapuk dihapuskirakan apabila dikenalpasti. Anggaran dibuat bagi hutang ragu berdasarkan penelitian ke atas semua baki yang belum dijelaskan pada tarikh lembaran imbangan. (ii) Tunai dan setara tunai Bagi tujuan penyata aliran tunai, tunai dan setara tunai termasuk tunai dan baki tunai di bank, deposit panggilan dan pelaburan jangka pendek berkecairan tinggi yang mempunyai risiko tidak ketara akibat perubahan nilai, ditolak deposit dicagarkan. (iii) Pemiutang Pemiutang dinyatakan pada kos iaitu nilai saksama pembelian berbayar pada masa hadapan untuk barangan dan perkhidmatan yang diterima. (iv) Instrumen Ekuiti Saham biasa diklasifikasikan sebagai ekuiti. Dividen atas saham biasa diiktiraf di ekuiti dalam tempoh ianya diisytiharkan.

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Dasar-dasar perakaunan penting (samb.)

2.3 Piawaian dan Tafsiran Diterbitkan tetapi Belum Efektif Pada tarikh penyata kewangan ini dikuatkuasakan, piawaian baru, pindaan kepada piawaian dan Tafsiran berikut telah diterbitkan tetapi belum lagi efektif dan belum diaplikasi oleh Kumpulan dan Syarikat: FRSs Baru, Pindaan kepada FRSs dan Tafsiran Berkuatkuasa untuk tempoh kewangan bermula pada atau selepas 1 Julai 2009: FRS 8 Segmen-segmen Beroperasi

Berkuatkuasa untuk tempoh kewangan bermula pada atau selepas 1 Januari 2010: FRS 4 FRS 7 FRS 101 FRS 123 FRS 139 Pindaan kepada FRS 2 Pindaan kepada FRS 1 dan FRS 127 Pindaan kepada FRS 5 Pindaan kepada FRS 7 Pindaan kepada FRS 8 Pindaan kepada FRS 107 Pindaan kepada FRS 108 Pindaan kepada FRS 110 Pindaan kepada FRS 116 Pindaan kepada FRS 117 Kontrak-kontrak insurans Instrumen kewangan : Pendedahan Pembentangan Penyata Kewangan (disemak dalam 2009) Kos-kos Pinjaman Instrumen Kewangan : Pengiktirafan dan Penilaian Pembayaran berasaskan Saham : Syarat-syarat Pemberian dan Pembatalan Hak Penggunaan Kali Pertama Piawaian Pelaporan Kewangan dan Penyata Kewangan Disatukan dan Diasingkan: Kos Pelaburan dalam Subsidiari, Entiti Kawalan Bersama atau Bersekutu Aset Tak Semasa Dipegang untuk Jualan dan Operasi Dihentikan Instrumen Kewangan : Pendedahan Segmen-segmen Beroperasi Penyata Aliran Tunai Dasar-dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan Peristiwa Selepas Tarikh Lembaran Imbangan Hartanah, Loji dan Peralatan Pajakan

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2.

Dasar-dasar perakaunan penting (samb.)

2.3 Piawaian dan Tafsiran Diterbitkan tetapi Belum Efektif (samb.) FRSs Baru, Pindaan kepada FRSs dan Tafsiran (samb.) Berkuatkuasa untuk tempoh kewangan bermula pada atau selepas 1 Januari 2010: (samb.) Pindaan kepada FRS 118 Pindaan kepada FRS 119 Pindaan kepada FRS 120 Pindaan kepada FRS 123 Pindaan kepada FRS 128 Pindaan kepada FRS 129 Pindaan kepada FRS 131 Pindaan kepada FRS 132 Pindaan kepada FRS134 Pindaan kepada FRS 136 Pindaan kepada FRS 138 Pindaan kepada FRS 139, FRS 7 dan Tafsiran IC 9 Kemajuan kepada FRSs 2009 Tafsiran IC 9 Tafsiran IC 10 Tafsiran IC 11 Tafsiran IC 13 Tafsiran IC 14 Pendapatan Manfaat pekerja Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan Kos-kos Pinjaman Pelaburan dalam Syarikat Bersekutu Pelaporan Kewangan dalam Ekonomi Inflasi hiper Kepentingan dalam Usaha Sama Instrumen kewangan : Pembentangan Pelaporan Kewangan Interim Rosotnilai Aset Aset Tak Ketara Instrumen Kewangan : Pengiktirafan dan Penilaian Pendedahan dan Penilaian Semula Embedded Derivatives Kemajuan kepada FRSs (2009) Penilaian Semula Embedded Derivatives Pelaporan Kewangan Interim dan Rosotnilai FRS 2 - Transaksi Saham Perbendaharaan dan Kumpulan Program Kesetiaan Pelanggan FRS 119 - Had pada Aset Manfaat Tetap, Keperluan Dana Minima dan Tindakbalasnya

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Dasar-dasar perakaunan penting (samb.)

2.3 Piawaian dan Tafsiran Diterbitkan tetapi Belum Efektif (samb.) FRSs Baru, Pindaan kepada FRSs dan Tafsiran (samb.) Berkuatkuasa untuk tempoh kewangan bermula pada atau selepas 1 Julai 2010: FRS 1 FRS 3 FRS 127 Tafisran IC 12 Tafisran IC 15 Tafisran IC 16 Tafsiran IC 17 Pindaan kepada FRS 2 Pindaan kepada FRS 5 Pindaan kepada FRS 138 Pindaan kepada FRS 139 Pindaan kepada Tafsiran IC 9 FRS 1 Penggunaan Kali Pertama Piawaian Pelaporan Kewangan Kombinasi Perniagaan Penyata Kewangan Disatukan dan Diasingkan Persetujuan Konsesi Perkhidmatan Perjanjian untuk Pembinaan Hartanah Hedge Terhadap Pelaburan Bersih dalam Operasi Asing Pengagihan Aset Bukan Tunai kepada Para Pemilik Pembayaran berasaskan Saham Aset Tak Semasa Dipegang untuk Jualan dan Operasi Dihentikan Aset Tak Ketara Instrumen Kewangan : Pengiktirafan dan Penilaian Penilaian Semula Embedded Derivatives

FRSs baru, Pindaan kepada FRSs dan Tafsiran-Tafsiran di atas dijangka tidak memberi impak yang signifikan kepada penyata kewangan Kumpulan dan Syarikat semasa aplikasi permulaannya kecuali terdapat perubahan yang timbul dari menggunapakai FRS 7 dan FRS 139. Kumpulan dan Syarikat dikecualikan untuk mendedah impak yang mungkin ada dalam penyata kewangan semasa aplikasi permulaan FRS 7 dan FRS 139. FRS 101 yang disemak semula mengasingkan perubahan pemilik dan bukan pemilik dalam ekuiti. Oleh itu, penyata perubahan dalam ekuiti disatukan hanya mengandungi butiran transaksitransaksi dengan pemilik. Perubahan dalam ekuiti bagi kesemua bukan pemilik dilaporkan sebagai jumlah pendapatan komprehensif. Piawaian juga memperkenalkan penyata pendapatan komprehensif : melaporkan kesemua butiran pendapatan dan perbelanjaan yang diiktiraf di dalam penyata pendapatan, berserta dengan butiran lain-lain pendapatan dan perbelanjaan yang diiktiraf, sama ada dalam satu penyata, ataupun dalam dua penyata yang digabungkan. Kumpulan sedang mengenalpasti format untuk digunapakai. Penyata kedudukan kewangan juga diperlukan pada permulaan tempoh perbandingan terawal berikutan perubahan dalam dasar perakaunan, pembetulan terhadap kesilapan atau klasifikasi semula butiran dalam penyata kewangan. FRS yang disemak semula ini tidak memberi impak kepada pencapaian dan kedudukan kewangan Kumpulan dan Syarikat.

182

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2.

Dasar-dasar perakaunan penting (samb.)

2.4 Anggaran dan penilaian perakaunan penting (a) Sumber-sumber utama anggaran yang ketidaktentuan Andaian-andaian utama berkaitan masa depan dan lain-lain sumber utama anggaran yang ketidaktentuan pada tarikh lembaran imbangan, yang boleh mempunyai risiko penting untuk mengakibatkan pelarasan ketara kepada amaun bawaan aset dan liabiliti dalam tahun kewangan yang akan datang dibincangkankan di bawah: (i) Penilaian rosotnilai hartanah, loji dan peralatan berkaitan perkhidmatan bulking Pada 31 Disember 2009, amaun bawaan hartanah, loji dan peralatan berkaitan dengan kemudahan bulking ("aset-aset bulking") adalah RM97,380,773 (2008: RM88,697,322). Kumpulan memastikan samada terdapat kemerosotan nilai pada amaun bawaan aset bulking sekurang-kurangnya setiap tahun. Kumpulan menjalankan ujian rosotnilai berdasar pada nilai penggunaan aset bulking tersebut. Dalam membuat anggaran nilai penggunaan, Kumpulan perlu membuat anggaran aliran tunai masa depan yang dijangka daripada aset bulking dan juga untuk memilih kadar diskaun yang berpatutan untuk mengira nilai terkini aliran tunai tersebut. Unjuran aliran tunai masa depan sepertimana digunakan oleh Kumpulan dalam analisa termasuk andaian yang signifikan berkaitan pertumbuhan kendalian kargo. Dalam keadaan dimana Kumpulan tidak dapat mencapai unjuran pertumbuhan kendalian kargo, aliran tunai masa depan akan terjejas dan memungkinkan peruntukkan rosotnilai diiktiraf pada amaun bawaan aset bulking tersebut. (ii) Aset cukai tertunda Aset cukai tertunda diiktiraf untuk kerugian cukai belum digunapakai dan elaun modal belum diserap setakat mana kemungkinan terdapat keuntungan bercukai boleh digunakan ke atas kerugian dan elaun modal tersebut. Penilaian yang teliti perlu dibuat oleh pengurusan untuk memastikan amaun aset cukai tertunda yang boleh diiktiraf, berdasar pada penentuan pemasaan dan tahap keuntungan bercukai masa depan bersama dengan strategi perancangan cukai masa hadapan. Kerugian cukai yang belum digunapakai bagi Kumpulan pada tarikh lembaran imbangan adalah RM130,964 (2008: RM93,752) dan elaun modal belum diserap pada tarikh lembaran imbangan adalah RM699,044 (2008: RM Tiada). Elaun cukai pelaburan belum digunapakai bagi Kumpulan pada tarikh lembaran imbangan adalah RM99,475,500 (2008: RM99,270,060). (iii) Hartanah dipegang untuk jualan Sepertimana dinyatakan dalam Nota 14, hartanah dipegang untuk jualan adalah berkaitan dengan rumah-rumah yang dibeli oleh subsidiari berhubung dengan projek perumahan subsidiari di Bintulu. Suratan hak milik ke atas harta berkenaan masih belum dipindahmilik kepada Syarikat subsidiari. Pengurusan beranggapan bahawa hak milik akan dipindahmilik kepada Syarikat subsidiari.

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31 Disember 2009 3. Pendapatan

Kumpulan 2009 2008 RM'000 RM'000 Pendapatan daripada perkhidmatan pelabuhan Pendapatan daripada perkhidmatan bulking Pendaptan dividen daripada subsidiari 421,862 17,185 439,047 434,569 14,198 448,767 Syarikat 2009 2008 RM'000 RM'000 220,350 220,350 220,350 220,350

LAPORAN TAHUNAN 2009 ANNUAL REPORT

4.

Lain-lain pendapatan

Kumpulan 2009 2008 RM'000 RM'000 Pendapatan faedah Pendapatan daripada sewa Lain-lain 14,913 2,106 537 17,556 20,433 163 621 21,217 Syarikat 2009 2008 RM'000 RM'000 10,413 10,413 10,541 10,541

5.

Kos staf

Kumpulan 2009 2008 RM'000 RM'000 Upah, gaji, elaun dan bonus Manfaat Tetap Skim Manfaat Persaraan (Nota 20) Skim sumbangan tetap (Kumpulan Wang Simpanan Pekerja) Lain-lain manfaat pekerja 40,090 41,913 Syarikat 2009 2008 RM'000 RM'000 534 562

5,122

4,498

-

-

4,533 7,365 57,110

4,437 8,617 59,465

52 53 639

55 217 834

Butir-butir kos persaraan Skim Manfaat Persaraan Kumpulan ada terkandung dalam Nota 20.

184

BINTULU PORT HOLDINGS BERHAD (380802-T)

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6.

Keuntungan sebelum cukai

Amaun berikut telah dicaj/(dikredit) untuk mendapat keuntungan sebelum cukai: Kumpulan 2009 2008 RM'000 RM'000 Ganjaran juruaudit - audit berkanun - tahun semasa - lebih peruntukan tahun lepas Ganjaran pengarah bukan eksekutif - yuran - lain-lain emolumen Sewa peralatan Sewa kenderaan bermotor Sewa ruang pejabat (Keuntungan)/Kerugian daripada pelupusan hartanah, loji dan peralatan Kerugian daripada penjualan hartanah dipegang untuk jualan Balikan hutang ragu Kerja dalam pelaksanaan dihapuskirakan Syarikat 2009 2008 RM'000 RM'000

151 (10) 1,002 146 1,052 545

153 864 124 2,193 278

55 (3) 792 121 53 13 37

55 672 88 51 26 37

(321)

(397)

-

5

30 18

166 (6) 1,838

-

-

BINTULU PORT HOLDINGS BERHAD (380802-T)

185

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31 Disember 2009 7.

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Ganjaran - pengurusan utama

(a) Pampasan untuk kakitangan pengurusan utama Kakitangan pengurusan utama adalah seseorang yang mempunyai kuasa dan tanggungjawab untuk perancangan, arahan dan kawalan ke atas aktiviti-aktiviti sesebuah entiti samada secara langsung atau tidak langsung, termasuk para pengarah entiti tersebut. Ganjaran para pengarah dan pengurusan utama Kumpulan dan Syarikat pada tahun kewangan adalah seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 Ganjaran dan manfaat Manfaat Tetap persaraan: Skim penyumbangan tetap 1,835 116 1,951 1,666 114 1,780 Syarikat 2009 2008 RM'000 RM'000 980 980 829 829

(b) Ganjaran pengarah Jumlah aggregat emolumen diterima dan belum terima oleh para pengarah Kumpulan dan Syarikat pada tahun kewangan adalah seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 Pengarah bukan eksekutif - yuran - tahun semasa - kurang peruntukan tahun lepas - elaun mesyuarat - manfaat barangan Analisa tidak termasuk manfaat barangan: Jumlah ganjaran pengarah bukan eksekutif tidak termasuk manfaat barangan Syarikat 2009 2008 RM'000 RM'000

1,002 146 7 1,155

756 108 124 9 997

792 121 7 920

564 108 88 9 769

1,148

988

913

760

Bilangan para pengarah Syarikat yang mana jumlah ganjaran dalam tahun kewangan tergolong dalam julat berikut adalah seperti di bawah: Bilangan Pengarah 2009 2008 Pengarah bukan eksekutif: Di bawah RM50,000 RM50,001 - RM100,000 1 10 9

186

BINTULU PORT HOLDINGS BERHAD (380802-T)

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31 Disember 2009

8.

Cukai

Kumpulan 2009 2008 RM'000 RM'000 Cukai pendapatan - tahun semasa - lebih peruntukan dalam tahun-tahun lepas Cukai tertunda (Nota 21) Berkaitan dengan perbezaan sementara asal dan dibalik semula Berkaitan perubahan dalam kadar cukai (Lebih)/Kurang peruntukan dalam tahun lepas 44,533 (781) 43,752 49,690 (58) 49,632 Syarikat 2009 2008 RM'000 RM'000 57,111 57,111 59,602 (125) 59,477

1,703 (693) 1,010 44,762

5,677 (197) 160 5,640 55,272

57,111

59,477

Cukai pendapatan dikira mengikut kadar cukai berkanun di Malaysia pada 25% (2008:26%) daripada anggaran pendapatan bercukai untuk tahun semasa. Penyesuaian perbelanjaan cukai pendapatan yang dikenakan ke atas keuntungan sebelum cukai pada kadar cukai pendapatan berkanun dengan perbelanjaan cukai pendapatan pada kadar cukai pendapatan efektif Syarikat adalah seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 Keuntungan sebelum cukai 173,518 205,883 Syarikat 2009 2008 RM'000 RM'000 227,843 227,804

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LAPORAN TAHUNAN 2009 ANNUAL REPORT

Cukai (samb.)

Kumpulan 2009 2008 RM'000 RM'000 Cukai dikira mengikut kadar cukai Malaysia pada 25% (2008: 26%) Kesan cukai daripada: - perbelanjaan yang tidak dibenarkan untuk tujuan percukaian - perubahan dalam kadar cukai atas baki pembukaan cukai tertunda - cukai tertunda diiktiraf pada kadar cukai berlainan Aset cukai tertunda diiktiraf atas kerugian cukai belum digunapakai dan elaun modal belum diserap Lebih peruntukan pada tahun lepas Cukai tertunda tidak diiktiraf (Lebih) / Kurang peruntukan cukai tertunda tahun lepas Perbelanjaan cukai pendapatan bagi tahun Syarikat 2009 2008 RM'000 RM'000

43,380

53,530

56,961

59,229

2,672 -

2,601 (197) (185)

150 -

219 -

(781) 184 (693) 44,762

(733) (58) 154 160 55,272

57,111

(125) 154 59,477

9.

Pendapatan Sesaham

(a) Asas Pendapatan sesaham asas Kumpulan dikira dengan membahagikan keuntungan bagi tahun dengan bilangan saham biasa yang diterbitkan sepanjang tahun kewangan. Kumpulan 2009 2008 Keuntungan bagi tahun (RM'000) Bilangan saham biasa yang diterbitkan (`000) Pendapatan asas sesaham (sen) (b) Kecairan Tidak terdapat kecairan dalam pendapatan sesaham. 128,756 400,000 32.19 150,611 400,000 37.65

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10. Dividen

Dividen berhubung tahun 2009 2008 RM'000 RM'000 Diiktiraf pada tahun: Dividen akhir bagi 2007: - 15 sen sesaham, tolak cukai pendapatan 26% Dividen khas bagi 2007: - 10 sen sesaham, tolak cukai pendapatan 26% Dividen interim setingkat bagi 2008 - 7.40 sen sesaham - 7.40 sen sesaham - 7.40 sen sesaham Dividen akhir setingkat bagi 2008 - 11.25 sen sesaham Dividen khas setingkat bagi 2008 - 7.50 sen sesaham Dividen interim setingkat bagi 2009 - 7.50 sen sesaham - 7.50 sen sesaham - 7.50 sen sesaham Dividen Diiktiraf dalam Tahun 2009 2008 RM'000 RM'000

-

-

-

44,400

-

-

-

29,600

-

29,600 29,600 29,600

-

29,600 29,600 29,600

-

45,000

45,000

-

-

30,000

30,000

-

30,000 30,000 30,000 90,000

163,800

30,000 30,000 30,000 165,000

162,800

Para pengarah mencadang pembayaran dividen akhir setingkat sebanyak 7.50 sen sesaham dan dividen khas setingkat sebanyak 7.50 sen sesaham ke atas 400,000,000 saham biasa, yang berjumlah RM30,000,000 dan RM30,000,000 masing-masingnya dimana, jika dilulus oleh ahli-ahli pada Mesyuarat Agung Tahunan Syarikat yang akan datang, akan dibayar pada 27 Mei 2010 kepada para pemegang saham yang berdaftar sebagai ahli pada penutupan perniagaan pada 14 Mei 2010. Penyata kewangan bagi tahun semasa tidak menggambarkan dividen yang dicadangkan. Dividen tersebut, jika dipersetujui oleh para pemegang saham, akan diambilkira di dalam ekuiti sebagai agihan ke atas keuntungan terkumpul dalam tahun kewangan berakhir 31 Disember 2010.

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11. Hartanah, loji dan peralatan

2009

Kumpulan

Perabot, kelengkapan Loji dan Struktur Kemudahan dan Kenderaan peralatan Bangunan pelabuhan bulking peralatan bermotor pejabat RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Kerja dalam Kapal pelaksanaan RM'000 RM'000 Jumlah RM'000

31 Disember 2009

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Kos 72,848 72,848 250,319 84,059 159,876 6,159 19,230 134,179 244,933 610 4,776 84,059 153,069 1,384 (5,382) 10,805 6,397 295 (533) 19,075 486 (516) 185 135,345 (1,166) 65,735 113,468 (15,766) (18) 163,419 781,461 116,243 (7,597) (18) 890,089

NoTA-NoTA KEPAdA PENYATA KEWANGAN

BINTULU PORT HOLDINGS BERHAD (380802-T)

Pada 1 Januari 2009 Tambahan Pelupusan Pindahan Klasifikasi semula/ pelarasan/ hapuskira Pada 31 Disember 2009

Susutnilai terkumpul 20,025 3,618 23,643 89,837 10,475 100,312 9,478 3,376 12,854 86,944 7,354 (5,381) 88,917 3,400 341 (481) 3,260 12,490 1,058 (516) 13,032 43,255 3,364 (1,064) 45,555 265,429 29,586 (7,442) 287,573

Pada 1 Januari 2009 Caj bagi tahun kewangan Pelupusan Pada 31 Disember 2009

Amaun bawaan bersih 49,205 150,007 71,205 70,959 2,899 6,198 88,624 163,419 602,516

Pada 31 Disember 2009

11. Hartanah, loji dan peralatan (samb.)

2008

Kumpulan

Perabot, kelengkapan Loji dan Struktur Kemudahan dan Kenderaan peralatan Bangunan pelabuhan bulking peralatan bermotor pejabat RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Kerja dalam Kapal pelaksanaan RM'000 RM'000 Jumlah RM'000

Kos 71,689 1,159 72,848 (10) 244,933 84,059 (281) 153,069 13 6,397 19,075 135,345 244,372 571 61,237 22,822 138,527 9,359 (2,888) 8,352 5,415 978 (9) 18,603 479 (7) 92,387 5,705 37,253 87,473 50,698 (69,586) (2,850) 65,735 719,703 67,790 (2,904) (3,128) 781,461

Pada 1 Januari 2008 Tambahan Pelupusan Pindahan Klasifikasi semula/ pelarasan/ hapuskira Pada 31 Disember 2008

Susutnilai terkumpul 16,497 3,528 20,025 79,520 10,317 89,837 6,213 3,265 9,478 84,914 4,918 (2,888) 86,944 3,140 269 (9) 3,400 11,246 1,246 (2) 12,490 40,017 3,238 43,255 241,547 26,781 (2,899) 265,429

Pada 1 Januari 2008 Caj bagi tahun kewangan Pelupusan Pada 31 Disember 2008

Amaun bawaan bersih 52,823 155,096 74,581 66,125 2,997 6,585 92,090 65,735 516,032

LAPORAN TAHUNAN 2009 ANNUAL REPORT

NoTA-NoTA KEPAdA PENYATA KEWANGAN

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Pada 31 Disember 2008

31 Disember 2009

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11. Hartanah, loji dan peralatan (samb.)

Bangunan-bangunan dan struktur-struktur pelabuhan Kumpulan didirikan di atas tanah yang dipajak daripada Lembaga Pelabuhan Bintulu. Pajakan ini akan luput pada tahun 2022. Syarikat 2009 Kos Pada 1 Januari 2009 Tambahan Pada 31 Disember 2009 Susutnilai terkumpul Pada 1 Januari 2009 Caj bagi tahun kewangan Pada 31 Disember 2009 Amaun bawaan bersih Pada 31 Disember 2009 2008 Kos Pada 1 Januari 2008 Tambahan Pelupusan Pada 31 Disember 2008 Susutnilai terkumpul Pada 1 Januari 2008 Caj bagi tahun kewangan Pelupusan Pada 31 Disember 2008 Amaun bawaan bersih Pada 31 Disember 2008 Hartanah, loji dan peralatan diperolehi dengan cara: Kumpulan 2009 2008 RM'000 RM'000 103,775 51,375 12,468 16,415 116,243 67,790 Syarikat 2009 2008 RM'000 RM'000 177 3 177 3 15 5 2 (2) 5 24 3 (7) 20 180 5 12 17 20 177 197 Peralatan Pejabat RM'000

Tunai Berbayar

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31 Disember 2009

12. Pelaburan dalam subsidiari

Syarikat 2009 2008 RM'000 RM'000 Saham tidak disebut, pada kos 340,000 340,000

Butir syarikat-syarikat subsidiarinya yang diperbadankan di Malaysia adalah seperti berikut: Faedah ekuiti efektif 2009 2008 % % 100 100 100 100 Aktiviti-aktiviti utama Memberi perkhidmatan pelabuhan di Pelabuhan Bintulu, Sarawak. Menjalankan perniagaan kemudahan bulking bagi minyak kelapa sawit, minyak makan, minyak sayuran, lemak dan produk-produk Hak untuk operasi RM'000

Nama syarikat Bintulu Port Sdn. Bhd. Biport Bulkers Sdn. Bhd.

13. Aset tak ketara

2009 Kos Pada 1 Januari 2009 Tambahan Pada 31 Disember 2009 Pelunasan terkumpul Pada 1 Januari 2009 Caj bagi tahun kewangan Pada 31 Disember 2009 Amaun bawaan bersih 2008 Kos Pada 1 Januari/31 Disember 2008 Pelunasan terkumpul Pada 1 Januari 2008 Caj bagi tahun kewangan Pada 31 Disember 2008 Amaun bawaan bersih

Perisian RM'000

Jumlah RM'000

24,531 24,531

7,050 82 7,132

31,581 82 31,663

15,699 981 16,680 7,851

885 706 1,591 5,541

16,584 1,687 18,271 13,392

24,531

7,050

31,581

14,718 981 15,699 8,832

173 712 885 6,165

14,891 1,693 16,584 14,997

BINTULU PORT HOLDINGS BERHAD (380802-T)

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13. Aset tak ketara (samb.)

Hak untuk operasi adalah lebihan amaun yang dibayar bagi pembelian perniagaan oleh Syarikat subsidiarinya, Bintulu Port Sdn. Bhd., daripada Lembaga Pelabuhan Bintulu ke atas nilai aset bersih yang diambilalih berdasar pada Perjanjian Penswastaan antara Kerajaan Malaysia, Lembaga Pelabuhan Bintulu dan Bintulu Port Sdn. Bhd.. Di bawah terma Perjanjian Penswastaan tersebut, Bintulu Port Sdn. Bhd. telah diberi lesen untuk memberi perkhidmatan pelabuhan bagi tempoh sewa pajakan yang mana akan luput dalam tahun 2022. Aset tak ketara diperolehi dengan cara: Kumpulan 2009 2008 RM'000 RM'000 Tunai 82 -

14. Hartanah dipegang untuk jualan

Kumpulan 2009 2008 RM'000 RM'000 Hartanah dipegang untuk jualan, pada kos Tolak: Kerugian rosotnilai terkumpul 22,453 (6,700) 15,753 23,468 (6,700) 16,768

Hartanah dimiliki untuk jualan adalah berkaitan dengan rumah-rumah yang dibeli oleh subsidiarinya, Bintulu Port Sdn. Bhd., berhubung dengan projek perumahan kakitangan di Bintulu. Projek diabaikan pada tahun 2000. Untuk itu, subsidiari telah mengeluarkan notis penamatan kerja kepada pemaju pada 30 Jun 2003, dan telah mengambilalih tapak projek. Dalam bulan November 2003 pemaju sebelum ini telah mengemukakan tuntutan sebanyak 2003, RM13,881,027 kepada Syarikat subsidiari. Tuntutan asal sebanyak RM13,881,027 telah diubah oleh pemaju kepada RM14,112,905 pada 23 Jun 2004. Tuntutan ini dinyatakan sebagai liabiliti luarjangka dalam Nota 28. Syarikat Perumahan Negara Berhad telah dilantik sebagai pemaju yang baru dalam tahun 2003 dan kerja pembinaan bagi projek ini telah siap dalam tahun 2005. Suratan hak milik ke atas harta berkenaan masih belum dipindahmilik kepada Syarikat.

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15. Penghutang perdagangan

Kumpulan 2009 2008 RM'000 RM'000 Penghutang perdagangan 39,522 38,843

Termasuk dalam penghutang perdagangan adalah amaun belum terima daripada Malaysia LNG Sdn. Bhd., ASEAN Bintulu Fertilizer Sdn. Bhd., MISC Agencies (Sarawak) Sdn. Bhd. dan PS Terminal Sdn. Bhd. yang berjumlah RM21,241,094 (2008: RM15,421,310), RM69,828 (2008: RM28,778), RM636,237 (2008: RM331,480) dan RM162,038 (2008:RM117,639),masing-masingnya. Kesemua syarikat berkenaan merupakan subsidiari kepada pemegang saham utama, Petroliam Nasional Berhad. Tempoh syarat kredit biasa perdagangan Kumpulan adalah di antara 15 hingga 45 hari. Syarat kredit lain diteliti dan dilulus berdasarkan kes-kes tertentu. Kumpulan tidak mempunyai tumpuan risiko kredit ketara yang lain yang mungkin timbul daripada pendedahan kepada mana-mana pelanggan individu atau kepada sekumpulan pelanggan.

16. Lain-lain penghutang

Kumpulan 2009 2008 RM'000 RM'000 Semasa Amaun daripada Lembaga Pelabuhan Bintulu Pinjaman kakitangan Faedah belum terima Prabayaran Pelbagai penghutang Amaun berbayar daripada subsidiari Syarikat 2009 2008 RM'000 RM'000

279 3,849 2,715 17,973 3,673 28,489

5,730 3,637 434 20,246 2,291 32,338

2,167 10 7,806 9,983

203 1 204

Tak semasa Amaun berbayar daripada subsidiari 81,590 -

Amaun daripada Lembaga Pelabuhan Bintulu merupakan pembayaran bagi pihak Lembaga Pelabuhan Bintulu berkaitan dengan kerja pembinaan dan menaik taraf struktur pelabuhan dan fasiliti-fasiliti lain yang dilaksanakan olehnya. Jumlah hutang adalah tidak bercagar, tanpa faedah dan dibayar balik apabila dituntut. Termasuk dalam prabayaran adalah pembayaran sewa pajak suku pertama 2010 berjumlah RM14,164,435 (2008: RM16,987,676) kepada Lembaga Pelabuhan Bintulu.

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17. Tunai dan setara tunai

Kumpulan 2009 2008 RM'000 RM'000 Instrumen pasaran kewangan diperolehi di bawah perjanjian pembelian semula Deposit dengan: - Bank berlesen - Lain-lain institusi Syarikat 2009 2008 RM'000 RM'000

29,200 49,023 225,501 303,724 9,991 313,715

12,800 222,295 216,395 451,490 10,167 461,657

25,018 111,501 136,519 65 136,584

113,143 107,250 220,393 1,437 221,830

Tunai dan baki di bank Tolak: Deposit jangka pendek dicagar untuk jaminan bank

313,715

(2,768) 458,889

136,584

(18) 221,812

Deposit dengan institusi lain merupakan perletakan simpanan dalam Akaun Amanah Institusi ("Institutional Trust Account") yang diwujudkan dengan syarikat pemegang amanah. Kadar faedah setahun bagi deposit jangka pendek yang berkuatkuasa pada 31 Disember 2009 adalah seperti berikut:Kumpulan Syarikat 2009 2008 2009 2008 % % % % Bank berlesen Lain-lain institusi Instrumen pasaran kewangan diperolehi di bawah perjanjian pembelian semula 1.30 - 3.47 3.00 - 3.90 5.00 5.00 2.20 - 3.20 3.55 - 3.60 5.00 5.00

1.40

2.50

-

-

Deposit Kumpulan dan Syarikat mempunyai tempoh kematangan pada purata1 hingga 365 hari (2008: 11 hingga 245 hari) dan 92 hingga 365 hari (2008: 78 hingga 358 hari) masing-masingnya.

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18. Modal saham

Kumpulan dan Syarikat 2009 2008 RM'000 RM'000 Dibenarkan 1,000,000,000 saham biasa RM1 sesaham Satu saham keutamaan boleh tebus berhak istimewa bernilai RM1 sesaham ("Saham Istimewa") 1,000,000 * 1,000,000 Kumpulan 2009 2008 RM'000 RM'000 Diterbitkan dan dibayar sepenuhnya Saham biasa RM1 sesaham: Pada permulaan dan akhir tahun kewangan Satu hak istimewa saham keutamaan boleh tebus bernilai RM1: Pada permulaan dan akhir tahun kewangan 1,000,000 * 1,000,000

Syarikat 2009 2008 RM'000 RM'000

400,000

400,000

400,000

400,000

* 400,000

* 400,000

* 400,000

* 400,000

* Saham Istimewa berjumlah RM1. Saham Istimewa Saham Istimewa, yang hanya boleh dimiliki oleh atau dipindah milik kepada Menteri Kewangan (Diperbadankan) atau pengganti beliau atau mana-mana wakil Menteri, atau sesiapa yang bertindak bagi pihak Kerajaan Malaysia, mempunyai hak istimewa seperti terkandung dalam Artikel 15A dan 109A Tataurusan Syarikat. Hak istimewa ini termasuk: (i) (ii) hak untuk melantik tidak melebihi empat orang Pengarah Syarikat pada bila-bila masa. hak untuk dibayar balik modal dibayar atas Saham Istimewa terdahulu daripada ahli-ahli sekiranya berlaku pembubaran Syarikat.

(iii) hak untuk meminta Syarikat menebus Saham Istimewa tersebut atas harga par pada bila-bila masa. Beberapa perkara khususnya, di dalam pindaan mana-mana Artikel Tataurusan Syarikat (termasuk Artikel yang berkaitan dengan had pemegangan saham), sebarang pelupusan aset yang ketara, penyatuan, penggabungan dan pengambilalihan, hendaklah mendapat kelulusan daripada pemegang Saham Istimewa terlebih dahulu. Pemegang Saham Istimewa ini tidak mendapat sebarang hak untuk mengundi semasa Mesyuarat Agung tetapi berhak untuk hadir dan bersuara dalam mesyuarat tersebut.

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19. Keuntungan terkumpul

Sebelum tahun taksiran 2008, Syarikat-syarikat di Malaysia menggunapakai sistem imputasi penuh. Menurut Akta Kewangan 2007 yang diwartakan pada 28 Disember 2007, syarikat-syarikat tidak perlu memotong cukai ke atas dividen yang dibayar, dikredit atau diagih kepada pemegang sahamnya, dan dividen ini akan dikecualikan cukai daripada pemegang saham ("sistem setingkat"). Walau bagaimanapun, syarikat-syarikat diberi tempoh peralihan selama enam tahun, yang mana tamat pada 31 Disember 2013, untuk membenarkan pembayaran dividen kepada pemegang saham di dalam keadaan tertentu. Syarikat-syarikat juga mempunyai pilihan, yang tidak boleh ditarik balik, untuk mengabaikan baki Seksyen 108 dan memilih untuk membayar dividen di bawah sistem setingkat. Perubahan dalam perundangan cukai juga membenarkan baki Seksyen 108 berada dalam keadaan tertutup pada 31 Disember 2007 menurut Seksyen 39 Akta Kewangan 2007. Syarikat ini telah memilih untuk mengabaikan baki Seksyen 108 pada 31 Disember 2009. Oleh itu, Syarikat boleh mengagihkan dividen daripada keseluruhan keuntungan terkumpulnya di bawah sistem bayaran dividen setingkat.

20. Manfaat persaraan

Kumpulan telah menubuhkan satu pelan Skim Manfaat Persaraan tidak berdana untuk kakitangan. Tanggungan Kumpulan di bawah Skim ini ditentukan berdasar penilaian aktuari setiap tiga tahun dengan mengguna Kaedah Jangkaan Kredit Unit. Kali terakhir Skim Manfaat Persaraan dinilai semula pada Disember 2009. Pergerakan sepanjang tahun kewangan bagi amaun yang diiktiraf dalam lembaran imbangan berkaitan Skim Manfaat Persaraan Kumpulan adalah seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 34,736 31,594 5,122 4,498 (1,587) (1,356) 38,271 34,736

Pada permulaan tahun kewangan Dicajkan kepada penyata kewangan Sumbangan dibayar Pada akhir tahun kewangan

Amaun yang diiktiraf dalam lembaran imbangan Kumpulan boleh dianalisa seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 41,949 37,354 (3,678) (2,618) 38,271 34,736

Nilai semasa tanggungan tidak berdana Kerugian aktuari tidak diiktiraf Liabiliti dalam lembaran imbangan

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20. Manfaat persaraan (samb.)

Perbelanjaan yang diiktiraf dalam penyata pendapatan Kumpulan boleh dianalisa seperti berikut: Kumpulan 2009 2008 RM'000 RM'000 2,726 2,555 2,396 1,943 5,122 4,498

Kos perkhidmatan semasa Kos faedah Jumlah, termasuk dalam Kos Staf (Nota 5)

Andaian utama yang digunakan oleh aktuari berkaitan skim manfaat persaraan Kumpulan adalah seperti berikut: Kumpulan 2009 2008 % % Kadar diskaun Kadar kenaikan gaji dijangka 6.50 6.00 6.50 5.00

21. Cukai tertunda

Komponen dan pergerakan liabiliti dan aset cukai tertunda sepanjang tahun kewangan sebelum offset adalah seperti berikut: Kumpulan Caj kepada Pada Penyata Pada 1.1.2009 Pendapatan 31.12.2009 RM'000 RM'000 RM'000 30,176 (33) (3,619) (9,000) (1,800) (14,452) 690 33 799 (568) 56 320 30,866 (2,820) (9,568) (1,744) (14,132)

Liabiliti cukai tertunda Hartanah, loji dan peralatan Aset cukai tertunda Kerugian cukai belum digunapakai Elaun modal belum diserap Manfaat Persaraan Lain-lain Kumpulan

Liabiliti cukai tertunda Hartanah, loji dan peralatan Aset cukai tertunda Kerugian cukai belum digunapakai Elaun modal belum diserap Manfaat Persaraan Lain-lain

Caj kepada Pada Penyata Pada 1.1.2008 Pendapatan 3 1.12.2008 RM'000 RM'000 RM'000 22,975 (3,191) (7,900) (1,800) (12,891) 7,201 (33) (428) (1,100) (1,561) 30,176 (33) (3,619) (9,000) (1,800) (14,452)

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21. Cukai tertunda (samb.)

Aset dan liabiliti cukai tertunda dioffset apabila terdapat hak undang-undang yang boleh dilaksanakan untuk offset aset cukai semasa dengan liabiliti semasa dan apabila cukai tertunda adalah berkaitan dengan lembaga cukai yang sama. Jumlah berikut yang ditentukan selepas offset yang berpatutan, ditunjukkan dalam lembaran imbangan: 2009 RM'000 (14,132) 13,356 (776) 30,866 (13,356) 17,510 2008 RM'000 (14,452) 13,676 (776) 30,176 (13,676) 16,500

Aset cukai tertunda (sebelum offset) Offset Aset cukai tertunda (selepas offset) Liabiliti cukai tertunda (sebelum offset) Offset Liabiliti cukai tertunda (selepas offset) Aset cukai tertunda belum diiktiraf berhubung perkara berikut:

Kerugian cukai belum digunapakai Elaun modal belum diserap Elaun cukai pelaburan belum digunapakai

2009 RM'000 131 699 99,475 100,305

2008 RM'000 131 168 99,270 99,569

22. Lain-lain pemiutang

Kumpulan 2009 2008 RM'000 RM'000 Berbayar kepada subsidiari Berbayar kepada Lembaga Pelabuhan Bintulu Akruan Pelbagai pemiutang Wang tahanan 64,166 7,200 27,739 10,354 109,459 100,062 8,638 25,960 5,134 139,794 Syarikat 2009 2008 RM'000 RM'000 926 297 132 1,355 593 22 146 761

Termasuk dalam akruan dan pelbagai pemiutang Kumpulan adalah amaun berbayar kepada Petronas Dagangan Berhad, syarikat subsidiari pemegang saham utama, Petroliam Nasional Berhad sebanyak RM1,567,720 (2008: RM757,434). Amaun berbayar kepada Lembaga Pelabuhan Bintulu adalah tidak bercagar, tanpa faedah dan dibayar balik apabila dituntut.

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23. Komitmen modal

Perbelanjaan modal tidak diperuntukkan dalam penyata kewangan adalah seperti berikut: 2009 RM'000 228,011 13,000 241,011 2008 RM'000 289,684 56,300 345,984

Kumpulan Dilulus dan dikontrakkan Dilulus tetapi belum dikontrakkan

24. Komitmen sewa pajak

Kumpulan Komitmen sewa pajak: - dalam tempoh satu tahun - antara satu hingga lima tahun - lebih daripada lima tahun

2009 RM'000 105,009 574,250 930,082 1,609,341

2008 RM'000 100,378 544,265 1,029,009 1,673,652

Komitmen sewa pajak adalah berkaitan dengan sewa pajak untuk tanah, bangunan-bangunan tertentu dan struktur-struktur pelabuhan berbayar kepada Lembaga Pelabuhan Bintulu. Komitmen sewa pajak termasuk amaun RM684,952,430 (2008: RM692,606,943) yang mana perjanjian dengan Lembaga Pelabuhan Bintulu belum lagi dimuktamadkan. Sewa pajak akan luput pada 31 Disember 2022.

25. Urusniaga penting dengan pihak berkaitan

Selain daripada penzahiran pihak berkaitan sepertimana dinyatakan di bahagian lain dalam penyata kewangan, berikut adalah lain-lain transaksi penting dengan pihak berkaitan. Urusniaga dengan pihak berkaitan yang dinyatakan di bawah dijalankan mengikut terma dan syarat urusniaga biasa yang mana tidak terdapat perbezaan ketara dengan urusniaga yang dilakukan dengan pihak-pihak tidak berkaitan. Kumpulan 2009 2008 RM'000 RM'000 Transaksi dengan subsidiari pemegang saham utama, Petroliam Nasional Berhad: Pemberian perkhidmatan: Malaysia LNG Sdn. Bhd. ASEAN Bintulu Fertilizer Sdn. Bhd. MISC Agencies (Sarawak) Sdn. Bhd. PS Terminal Sdn. Bhd. Perolehan bahan api dan minyak pelincir: Petronas Dagangan Berhad

278,304 851 4,633 1,205

254,105 724 3,004 1,378

(15,106)

(16,800)

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26. Instrumen-instrumen kewangan

(a) Dasar dan objektif pengurusan risiko kewangan Pendekatan pengurusan risiko keseluruhan Kumpulan adalah untuk meminimumkan kesan pendedahannya kepada risiko kadar faedah, risiko kredit dan risiko kecairan. (b) Risiko kadar faedah Risiko kadar faedah aliran tunai adalah risiko aliran tunai masa depan sesuatu instrumen kewangan akan berubah-ubah disebabkan perubahan dalam kadar faedah pasaran. Risiko kadar faedah nilai saksama adalah risiko nilai sesuatu instrumen kewangan akan berubah-ubah disebabkan perubahan dalam kadar faedah pasaran. Oleh kerana Kumpulan tidak mempunyai aset kewangan pembawa faedah yang signifikan, pendapatan Kumpulan dan aliran tunai operasi adalah bebas dengan ketaranya daripada perubahan dalam kadar faedah pasaran. Aset kewangan pembawa faedah Kumpulan adalah berjangka pendek dan diletak dalam simpanan tetap. (c) Risiko kredit Selain daripada amaun tertunggak daripada subsidiari-subsidiari Petroliam Nasional Berhad seperti dinyatakan dalam Nota 15, Kumpulan tidak mempunyai sebarang penumpuan risiko kredit yang ketara. Risiko kredit diminimumkan dan dikawal melalui permohonan kelulusan kredit, had kredit dan prosidur pemantauan yang berkaitan. (d) Risiko kecairan Kumpulan mengekalkan tahap wang tunai dan deposit jangka pendek yang mencukupi untuk memenuhi keperluan modal kerja. (e) Nilai saksama Nilai bawaan untuk aset dan liabiliti kewangan bagi Kumpulan dan Syarikat pada tarikh di lembaran imbangan menghampiri nilai saksama masing-masing.

27. Laporan bersegmen

Kumpulan dibahagi kepada dua segmen perniagaan: (i) Memberi perkhidmatan pelabuhan. (ii) Menjalan perniagaan kemudahan bulking bagi minyak kelapa sawit, minyak makan, minyak sayuran, lemak dan produk-produk yang berkaitan. (a) Format laporan utama - segmen perniagaan Untuk tujuan laporan bersegmen, kos yang tidak diagihkan adalah berkaitan dengan perbelanjaan pentadbiran syarikat induk. Aset yang tidak diagihkan adalah berkaitan dengan tunai dan setara tunai syarikat induk dan liabiliti yang tidak diagihkan adalah berkaitan dengan liabiliti cukai Kumpulan.

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27. Laporan bersegmen (samb.)

(a) Format laporan utama - segmen perniagaan (samb.) Tahun kewangan berakhir 31 Disember 2009 Memberi Memberi Perkhidmatan Kemudahan Pelabuhan Bulking Kumpulan RM'000 RM'000 RM'000 Pendapatan Jumlah pendapatan - luaran Keputusan Keputusan segmen Pendapatan daripada faedah dan pelaburan Kos tidak diagihkan Keuntungan daripada operasi dan sebelum cukai Cukai Keuntungan bagi tahun Pada 31 Disember 2009 Aset segmen Aset tidak diagihkan Jumlah aset Liabiliti segmen Liabiliti tidak diagihkan Jumlah liabiliti 729,570 130,254 859,824 154,339 1,014,163 147,301 22,075 169,376 421,862 17,185 439,047

155,119

(1,061)

154,058 22,167 (2,707) 173,518 (44,762) 128,756

143,089

4,212

Memberi Memberi Perkhidmatan Kemudahan Pelabuhan Bulking RM'000 RM'000

Tidak Diagihkan Kumpulan RM'000 RM'000

Maklumat lain Perbelanjaan modal Susutnilai Pelunasan aset tak ketara 102,346 24,556 1,687 13,720 5,018 177 12 116,243 29,586 1,687

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27. Laporan bersegmen (samb.)

(a) Format laporan utama - segmen perniagaan (samb.) Tahun kewangan berakhir 31 Disember 2008 Memberi Memberi Perkhidmatan Kemudahan Pelabuhan Bulking Kumpulan RM'000 RM'000 RM'000 Pendapatan Jumlah pendapatan - luaran Keputusan Keputusan segmen Pendapatan daripada faedah dan pelaburan Kos tidak diagihkan Keuntungan daripada operasi dan sebelum cukai Cukai Keuntungan bagi tahun Pada 31 Disember 2008 Aset segmen Aset tidak diagihkan Jumlah aset Liabiliti segmen Liabiliti tidak diagihkan Jumlah liabiliti 700,979 140,609 841,588 239,839 1,081,427 174,362 26,034 200,396 434,569 14,198 448,767

185,491

2,160

187,651 21,217 (2,985) 205,883 (55,272) 150,611

170,501

3,861

Memberi Memberi Perkhidmatan Kemudahan Pelabuhan Bulking RM'000 RM'000

Tidak Diagihkan Kumpulan RM'000 RM'000

Maklumat lain Perbelanjaan modal Susutnilai Pelunasan aset tak ketara 58,707 21,869 1,693 9,080 4,910 3 2 67,790 26,781 1,693

(b) Format laporan kedua - segmen lokasi Laporan segmen mengikut lokasi geografi tidak disediakan kerana operasi Kumpulan tertumpu di Malaysia.

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28. Liabiliti luarjangka (tak bercagar)

Kumpulan 2009 2008 RM'000 RM'000 Tuntutan daripada pemaju berkaitan projek perumahan kakitangan syarikat subsidiari 14,113 14,113

Tuntutan ini timbul akibat daripada keputusan syarikat subsidiari menamatkan perkhidmatan pemaju sebelum ini oleh kerana pemaju tersebut telah mengabaikan projek perumahan kakitangan dalam tahun 2000. Syarikat subsidiari telah membuat tuntutan terhadap pemaju yang berkaitan menuntut arahan perlaksanaan spesifik bagi pindahmilik suratan hak milik tanah dan kos tambahan untuk menyiapkan projek perumahan tersebut.

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PROXY FORM

BINTULU PORT HOLDINGS BERHAD

Company No.: 380802 ­ T (Incorporated in Malaysia)

LAPORAN TAHUNAN 2009 ANNUAL REPORT

I/We of being a member / members of BINTULU PORT HOLDINGS BERHAD, do hereby appoint of or failing him, THE CHAIRMAN OF THE MEETING as my/our proxy, to vote for me/us and my/our behalf, at the Fourteenth (14th) Annual General Meeting of the Company to be held at Ballroom Lobby Floor, Hilton Kuching, Jalan Tunku Abdul Rahman, 93748 Kuching, on Wednesday, 28th day of April, 2010 at 11.00 a.m. or any adjournment thereof. My/our proxy is to vote as indicated below: No. 1. 2. Resolution To receive and adopt the Directors' Report and Audited Accounts for the year ended 31st December 2009 and the Auditors' Report thereon; To approve the payment of a final single tier dividend of 7.5 sen per share and special single tier dividend of 7.5 sen per share in respect of the year ended 31st December 2009; To approve the Directors' Fees of RM792,233.00 for the year ended 31st December 2009; To re-elect Tan Sri Dr. Wan Abdul Aziz Bin Wan Abdullah who retires under Article 132 of the Company's Articles of Association To re-elect Encik Amir Hamzah bin Azizan who retires under Article 132 of the Company's Articles of Association To re-elect Datuk Fong Joo Chung who retires under Article 127 of the Company's Articles of Association; To re-elect Datu Hj. Abang Halmi Bin Ikhwan who retires under Article 127 of the Company's Articles of Association; To re-appoint Messrs. Ernst & Young as Auditors of the Company and to authorize the Directors to fix their remuneration; To transact any other business for which due notice shall have been given. For Against

3. 4. 5. 6. 7. 8. 9.

Please indicate with "X" on the spaces provided how you wish your votes to be casted. In the absent of specific directions, your proxy will vote or abstain from voting at his discretion. Dated this ........ day of ...................................... 2010.

No. of Shares Held

Signatures of Member(s)/Common Seal

Notes: PROXY

i. ii. iii. A member of the Company entitled to attend and vote is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company. The instrument appointing a proxy in the case of an individual shall be signed by the appointor or his attorney duly authorised in writing and in the case of a corporation, the instrument appointing a proxy must be under seal or under the hand of an officer or attorney duly authorised. The instrument appointing a proxy must be deposited at the Registered Office of the Company at Headquarters Building, Bintulu Port Holdings Berhad, Lot 15, Block 20, Kemena Land District, 12th Mile, Tanjung Kidurong Road, 97008 Bintulu, Sarawak, Malaysia, not less than 48 hours before the time appointed for holding the Meeting and or any adjournment thereof.

BINTULU PORT HOLDINGS BERHAD

(380802-T)

207

LAPORAN TAHUNAN 2009 ANNUAL REPORT

The Company Secretary Bintulu Port Holdings Berhad Lot 15, Block 20, Kemena Land District 12th Mile, Tanjung Kidurong Road P. O. Box 996, 97008 Bintulu, Sarawak, Malaysia

208

BINTULU PORT HOLDINGS BERHAD

(380802-T)

BORANG PROKSI

BINTULU PORT HOLDINGS BERHAD

LAPORAN TAHUNAN 2009 ANNUAL REPORT

No. Syarikat: 380802 ­ T (Diperbadankan di Malaysia)

Saya/Kami beralamat sebagai ahli / ahli-ahli BINTULU PORT HOLDINGS BERHAD, dengan ini melantik beralamat atau sekiranya beliau tidak hadir, PENGERUSI MESYUARAT sebagai proksi saya / kami untuk mengundi bagi pihak saya / kami pada Mesyuarat Agung Tahunan Keempat Belas (14) yang akan diadakan di Ballroom Lobby Floor, Hilton Kuching, Jalan Tunku Abdul Rahman, 93748 Kuching, pada hari Rabu, 28 April 2010 jam 11.00 pagi atau pada tarikh-tarikh lain yang ditetapkan sekiranya

berlaku penangguhan. Proksi saya / kami haruslah mengundi seperti berikut:

Bil.

1. 2.

Resolusi

Menerima dan meluluskan Laporan Pengarah dan Penyata Akaun yang telah diaudit bagi tahun berakhir 31 Disember 2009 dan Laporan Juruaudit yang dilampirkan; Meluluskan pembayaran dividen akhir sistem setingkat sebanyak 7.5 sen sesaham dan Dividen khas system setingkat sebanyak 7.5 sen sesaham bagi tahun berakhir 31 Disember 2009; Meluluskan bayaran yuran Pengarah-Pengarah sebanyak RM792,233.00 bagi tahun berakhir 31 Disember 2009; Melantik semula Tan Sri Dr. Wan Abdul Aziz Bin Wan Abdullah yang bersara menurut Artikel 132, Tataurusan Syarikat; Melantik semula Encik Amir Hamzah bin Azizan yang bersara menurut Artikel 132, Tataurusan Syarikat; Melantik semula Datuk Fong Joo Chung yang bersara menurut Artikel 127, Tataurusan Syarikat; Melantik semula Datu Hj. Abang Halmi Bin Ikhwan yang bersara menurut Artikel 127, Tataurusan Syarikat;

Setuju

Tidak Setuju

3. 4. 5. 6. 7.

8. 9.

Melantik semula Tetuan Ernst & Young sebagai Juruaudit Syarikat dan memberi kuasa kepada Pengarah-Pengarah menetapkan ganjarannya; Menjalankan sebarang urusan lain yang mana notis sewajarnya telah diberitahu selaras dengan Akta Syarikat 1965.

Sila tandakan dengan "X" di ruang yang tersedia tentang bagaimana anda menghendaki proksi anda mengundi. Jika tidak, proksi anda berhak mengundi atau tidak mengikut budi bicaranya sendiri. Bertarikh hari ........ bulan ...................................... 2010.

Jumlah saham yang dipegang

Tandatangan Ahli / Ahli-Ahli / Meteri Syarikat

Nota-Nota: PROKSI

i. Seorang ahli yang berhak hadir dan mengundi adalah berhak melantik seorang proksi untuk hadir dan mengundi bagi pihaknya. Seorang proksi tidak semestinya ahli syarikat tersebut. Surat perlantikan proksi dari seseorang individu mestilah ditandatangani oleh pelantik atau wakilnya yang telah dilantik dengan secara bertulis, dan surat perlantikan proksi dari sesebuah perbadanan mestilah disempurnakan di bawah meteri syarikat atau ditandatangani oleh pegawai yang diberi kuasa berbuat demikian. Borang proksi yang telah disempurnakan mestilah dihantar ke Pejabat Berdaftar Syarikat, Ibu Pejabat, Bintulu Port Holdings Berhad, Lot 15, Block 20, Kemena Land District, 12th Mile, Jalan Tanjung Kidurong, 97008 Bintulu, Sarawak, Malaysia, tidak lewat dari 48 jam sebelum waktu mesyuarat yang ditetapkan dan atau waktu penangguhannya.

ii.

iii.

BINTULU PORT HOLDINGS BERHAD

(380802-T)

209

LAPORAN TAHUNAN 2009 ANNUAL REPORT

Setiausaha Syarikat Bintulu Port Holdings Berhad Lot 15, Block 20, Kemena Land District 12th Mile, Tanjung Kidurong Road P. O. Box 996, 97008 Bintulu, Sarawak, Malaysia

210

BINTULU PORT HOLDINGS BERHAD

(380802-T)

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