Innoprise Plantations Berhad is a Sabah based company listed on the Main Board of Bursa Malaysia. It formly known as Sinora Industries Berhad. It change it name at 2008 to Innoprise Plantations Berhad.
Yayasan Sabah, through its wholly owned subsidiary, Innoprise Corporation Sdn Bhd hold 41% equity share in the Company and is the single largest shareholder.
3.2 Principal Activity
In 2006, the Company disposed of its downstream wood product assets and operation to refocus on oil palm industry.
As oil palm plantation has a long gestation period, the Company has in 2006 entered into a eco-logging contract with Rakyat Berjaya Sdn Bhd (a subsidiary of Innoprise) to log 30,000 hectares of Kuamut Forest Reserve over a period of 10 years. This operation is to provide medium term revenue and partial funding for the oil palm development project.
AUDITORS
MPT 4604, Lot 17-28,
3rd Floor, Block B, Bandaran Baru,
Jalan Baru, 91000 Tawau, Sabah.
Tel: 089 - 774233
Fax: 089 - 762950
COMPANY SECRETARY
Dorothy Luk Wei Kam
Chan Ai Hoon
Principal Bankers
Malayan Banking Berhad
Bank Kerjasama Rakyat (M) Berhad
Share Registrar
Symphony Share Registrars Sdn Bhd
Level 6, Symphony House
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Selangor
Tel:03-78418000
Fax: 03 - 7841 8008
REGISTERED OFFICE
6th Floor, Menara Tun Mustapha,
Likas Bay, 88400 Kota Kinabalu,
Sabah., Malaysia
Tel: 088 - 326 415
Fax: 088 - 432 104
E-mail: [email protected]
Audit Committee
Datuk Hj. Majin Hj. Ajing
Independent Non-Executive Chairman
Puan Hajah Mary @ Mariati Robert
Independent Non-Executive Director
Datuk Jaswant Singh Kler
Independent Non-Executive Director
Cik Ainahwati Binti Abd Sani
Non-Independent Non-Executive Director
Nomination Committee
Datuk Hj. Majin Hj. Ajing
Independent Non-Executive Chairman
Datuk Jaswant Singh Kler
Independent Non-Executive Director
Puan Hajah Mary @ Mariati Robert
Independent Non-Executive Director
Remuneration Committee
Datuk Hj. Majin Hj. Ajing
Independent Non-Executive Chairman
Datuk (Dr.) Kelvin Tan Aik Pen
Managing Director
Datuk Jaswant Singh Kler
Independent Non-Executive Director
Trading Profit and Loss for Innoprise Plantations Berhad
INNOPRISE PLANTATION
YEARS
2007
2008
2009
DATE OF FISCAL YEAR END
31/12/2007
31/12/2008
31/12/2010
NET SALES OR REVENUES
39362
28246
27690
COST OF GOODS SOLD (EXCL DEPRECIATION)
26128
18941
18502
GROSS INCOME
13135
9213
9107
SELLING, GENERAL &ADMINISTRATIVE EXPENSES
1907
2005
NA
DEPRECIATION, DEPLETION AND AMORTIZATION
99
92
81
AMORTIZATION OF INTANGIBLES
0
0
NA
AMORTIZATION OF DEFERRED CHARGES
0
0
NA
OPERATING INCOME
11228
7208
6910
INTEREST EXPENSE ON DEBT
0
0
0
INTEREST CAPITALIZED
0
0
NA
NON-OPERATING INTEREST INCOME
222
25
NA
INTEREST EXPENSE ON DEBT
0
0
0
NON-OPERATING INTEREST INCOME
222
25
NA
INTEREST CAPITALIZED
0
0
NA
RESEARCH &DEVELOPMENT
NA
NA
NA
SALARIES AND BENEFITS EXPENSES
535
962
NA
EXTRAORDINARY CREDIT - PRETAX
0
0
NA
EXTRAORDINARY CHARGE - PRETAX
0
0
NA
PRETAX INCOME
11991
7797
9335
INCOME TAXES
3884
970
2022
PRETAX INCOME
11991
7797
9335
INCOME TAXES
3884
970
2022
MINORITY INTEREST
0
0
0
EXTRA ITEMS &GAIN/LOSS SALE OF ASSETS
0
0
0
PREFERRED DIVIDEND REQUIREMENTS
0
0
0
NET INCOME BEFORE EXTRA ITEMS/PREFERRED DIVIDENDS
8106
6827
7313
PREFERRED DIVIDEND REQUIREMENTS
0
0
0
DIVIDENDS PROVIDED FOR OR PAID - COMMON
0
0
NA
EARNINGS BEFORE INTEREST AND TAXES (EBIT)
11991
7797
9335
EBIT &DEPRECIATION
12089
7889
9416
NET INCOME USED TO CALCULATE BASIC EARNINGS PER SHARE
8106
6827
7313
NET INCOME USED TO CALCULATE DILUTED EARNINGS PER SHARE
NA
6827
7313
NET INCOME AVAILABLE TO COMMON
8106
6827
7313
Balance Sheet for Innoprise Plantatation Berhad
INNOPRISE PLANTATION
Years
2007
2008
2009
DATE OF FISCAL YEAR END
12/31/2007
12/31/2008
12/31/2010
PROPERTY, PLANT AND EQUIPMENT - NET
44532
82980
121342
TOTAL INTANGIBLE OTHER ASSETS - NET
0
0
0
INVENTORIES - TOTAL
7656
5450
NA
CURRENT ASSETS - TOTAL
26385
8736
108631
INVENTORIES - TOTAL
7656
5450
NA
CASH &SHORT TERM INVESTMENTS
13215
528
96627
RECEIVABLES(NET)
5126
2548
NA
CASH &SHORT TERM INVESTMENTS
13215
528
96627
CURRENT ASSETS - TOTAL
26385
8736
108631
TOTAL ASSETS
70917
91716
229973
ACCOUNTS PAYABLE
4089
8356
NA
SHORT TERM DEBT &CURRENT PORTION OF LONG TERM DEBT
0
7188
0
CURRENT LIABILITIES - TOTAL
6756
18702
15486
WORKING CAPITAL
19629
-9966
93145
LONG TERM DEBT
0
0
0
TOTAL DEBT
0
7188
0
TOTAL DEBT
0
7188
0
CASH &SHORT TERM INVESTMENTS
13215
528
96627
DEFERRED TAXES
5159
7184
9205
MINORITY INTEREST
0
0
0
COMMON STOCK
112500
112500
NA
COMMON EQUITY
59003
65830
205282
COMMON STOCK
112500
112500
NA
COMMON EQUITY
59003
65830
205282
PREFERRED STOCK
0
0
0
TOTAL CAPITAL
59003
65830
NA
Ratio for Innoprise Plantations Berhad
INNOPRISE PLANTATION
YEAR
2007
2008
2009
DATE OF FISCAL YEAR END
12/31/2007
12/31/2008
12/31/2009
RETURN ON EQUITY - TOTAL (%)
16.65
10.94
5.39
RETURN ON INVESTED CAPITAL
16.65
10.34
NA
OPERATING PROFIT MARGIN
28.52
25.52
24.95
PRETAX MARGIN
30.46
27.6
33.71
NET MARGIN
20.59
24.17
26.41
CASH FLOW/SALES
29.18
30.07
26.7
PRETAX INCOME
11991
7797
9335
INTEREST EXPENSE ON DEBT
0
0
0
INVENTORIES - DAYS HELD
100
126
NA
ACCOUNTS RECEIVABLES DAYS
63
50
NA
ACCOUNTS PAYABLE
4089
8356
NA
NET SALES OR REVENUES
39362
28246
27690
OPERATING INCOME
11228
7208
6910
DEPRECIATION, DEPLETION AND AMORTIZATION
99
92
81
TOTAL DEBT % TOTAL CAPITAL &SHORT TERM DEBT
0
9.84
NA
CURRENT RATIO
3.91
0.47
7.01
QUICK RATIO
2.72
0.16
NA
TOTAL DEBT % COMMON EQUITY
0
10.92
0
Operating profit
The higher the operating profit margin, the higher is the profitability of the company. At 2007 the operating profit margin shows 28.25, 2008 is 25.52 and while 2009 is 24.95. It shows the decreasing the profir margin for this company year by year. It give the signal the decreasing the magin shows us that the company have a bad pervormance.
Return on Equity Capital
Innoprise Plantation Berhad performance for the year 2007 at 16.65, 2008 at 10.94 and 2009 at 5.39 for the return to equity as total. This company have counter low shareholder also because low in growth of firm performance. Besides that, return on equity of this firm is decreasing from 2007 to 2002009.
Net Profit Margin
The net profit margin in every year for the Innoprise Plantation is increasing which in 2007 is 20.59, 2008 is 24.17 and following 2009 is 26.41. its show that there are increasing in net profit margin in 2007 until 2009. This gives give good view about the performance of the company.
Current Ratio
The current ratio for this company decrease from 3.91 at 2007 to 0.47 at 2008. Meanwhile, at the 2009 it increase to 7.01. It shows the up and down due to fluctuation of the current ratio for every year. Base on this three years, we can estimate that the company innoprise current ratio will decrease due to bad financial management.
Quick Ratio
At 2007, quick ratio at the 2.72 and decreasing to 0.16 to 2008. It shows the bad peformance for the inventory or stock management for this company and high of the liabilities as well.
TECHNICAL ANALYSIS
The graph above show the relationship between price of BLD Plantation's product and price related to FTSE bursa Malaysia KLCI known as price index. The vertical line show the price and horizontal line show the year of price. In 2006 show the price is quite low 2.15 (10.2.06) and the price achieve the higher price at 2010 = 5.30 (17.12.10). in 2007 the price quite stabil and constantly increased. But in 2008, the price decreasing at the middle 2008 and 2009. In 2009, the become more stabil and increased constantly until 2010 which achieve higher price in that year. For the recommendation, the customer should buy the share in 2006 until mid year of 2007. After mid year of 2007, the customer should sell their share because the price at the time is quite high. In 2008, customer should buy the share because the price is quite low. For customer that buy shares in 2008, the can sell their share on mid year of 2010 because the price is higher.
