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Strategy 5 Porter

In: Business and Management

Submitted By barbaraquah
Words 46736
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KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD
(672174-T)

(Incorporated in Malaysia)

Directors' Report and Audited Financial Statements as at 31 December 2010

Registered Office Level 18, Tower 2, Etiqa Twins, 11 Jalan Pinang, 50450 Kuala Lumpur

KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD
(672174-T)

(Incorporated in Malaysia)

CONTENTS PERFORMANCE OVERVIEW STATEMENT OF CORPORATE GOVERNANCE DIRECTORS' REPORT STATEMENT BY DIRECTORS STATUTORY DECLARATION REPORT OF SHARIAH COMMITTEE INDEPENDENT AUDITORS' REPORT STATEMENTS OF FINANCIAL POSITION INCOME STATEMENTS STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF CHANGES IN EQUITY STATEMENTS OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS

PAGE 1 1 - 18 19 - 23 24 25 26 - 27 28 - 29 31 - 32 33 34 35 36 - 37 38 - 139

KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD
(672174-T)

(Incorporated in Malaysia)
1 PERFORMANCE OVERVIEW The Group and the Bank registered a loss after taxation of RM75.6 million and RM97.3 million respectively for the financial year ended 31 December 2010 due to the more challenging operating environment in 2010 as the Group and the Bank embarked on its business realignment and restructuring plans in early 2010. The total assets of the Group has decreased by RM661.5 million to RM10.9 billion as at 31 December 2010. Despite the anticipated full year results, the Group made marked progress in Quarter 1 to Quarter 4 of 2010 profit/(loss) before taxation and the Group stood on a strong capitalised position with a risk-weighted capital ratio of 24.56%. 2 (i) STATEMENT OF CORPORATE GOVERNANCE Board responsibility and oversight Kuwait Finance House (Malaysia) Berhad (hereinafter referred to as “the Bank”) acknowledges that good corporate governance practices form the cornerstone of an effective and responsible organisation. The Bank continuously pursues its efforts in implementing a corporate governance…...

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