BIMB Integrated Annual Report 2019

DIRECTORS’ REPORT for the financial year ended 31 december 2019 The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for the financial year ended 31 December 2019. PRINCIPAL ACTIVITIES The Company is principally engaged as an investment holding company with business transacted in accordance with Islamic principles, whilst the principal activities of the subsidiaries are as stated in Note 14 to the financial statements. There has been no significant change in the nature of these activities during the financial year. ULTIMATE HOLDING COMPANY The Company is a subsidiary of Lembaga Tabung Haji, a hajj pilgrims’ fund statutory body established in Malaysia and regarded by the Directors as the Company’s ultimate holding company, during the financial year and until the date of this report. SUBSIDIARIES The details of the Company’s subsidiaries are disclosed in Note 14 to the financial statements. FINANCIAL RESULTS Group Company RM’000 RM’000 Profit for the year attributable to: Owner of the Company 786,920 349,597 Non-controlling interests 148,449 – 935,369 349,597 DIVIDENDS Since the end of the previous financial year, the amount of dividends paid by the Company were as follows: RM’000 i) In respect of the financial year ended 31 December 2018 as reported in the Directors’ Report of that year: Dividend of 15.50 sen per ordinary share, declared on 28 November 2018, ex-date on 27 December 2018, and paid on 29 January 2019 262,503 ii) In respect of the financial year ended 31 December 2019: Dividend of 16.00 sen per ordinary share, declared on 29 November 2019, ex-date on 23 December 2019, and paid on 21 January 2020 282,285 544,788 The Directors do not recommend final dividend to be paid for the financial year under review. 162 Integrated Annual Report 2019 Group Overview Sustaining The Group Management Discussion & Analysis Group Governance