FGV Annual Report 2012

3 F i n a n c i a l S t a t e m e n t s 2 0 1 2 P e n y a t a K e w a n g a n Directors’ Report The Directors have pleasure in submitting their annual report to the members together with the audited financial statements of the Group and the Company for the financial year ended 31 December 2012. PRINCIPAL ACTIVITIES The Company is principally an investment holding company with investments primarily in oil palm plantation and its related downstream activities, sugar refining, manufacturing, logistics and others. The principal activities of the subsidiaries are stated in Note 21 to the financial statements. There have been no significant change in the nature of these activities of the Group and the Company during the financial year other than acquisition of plantation estates as disclosed in Note 21(c) to the financial statements. FINANCIAL RESULTS Group Company RM’000 RM’000 Profit attributable to owners of the Company 805,953 435,981 Non-controlling interests 99,105 – Profit for the financial year 905,058 435,981 DIVIDENDS Dividends on ordinary shares paid or declared by the Company since 31 December 2011 are as follows: RM’000 In respect of the financial year ended 31 December 2012: – Interim single tier dividend of 5.5 sen per share, paid on 22 October 2012 200,648 The Board of Directors are recommending the payment of a final single tier dividend of 8.5 sen per share amounting to RM310.0 million which is not taxable in the hands of the shareholders pursuant to paragraph 12B of Schedule 6 of the Income Tax Act 1967, which is subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company. RESERVES AND PROVISIONS All material transfers to or from reserves or provisions during the financial year are shown in the financial statements. INCREASE OF AUTHORISED SHARE CAPITAL On 1 January 2012, the authorised share capital of the Company was RM2,012,500,000 comprising 2,000,000,000 ordinary shares of RM1 each and 1,250,000,000 Redeemable and Non-Voting Convertible Preference Shares (“RCPS”) and Redeemable Cumulative and Non-Voting Convertible Preference Shares (“RCCPS”) of RM0.01 each. On 16 May 2012, the authorised share capital of the Company was increased from RM2,012,500,000 to RM4,000,000,001 comprising 4,000,000,000 ordinary shares of RM1 each and 1 special share of RM1 each.