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Published by Aleyani Jamari, 2022-03-16 02:55:06

KUIS-ANNUAL-2003

KUIS-ANNUAL-2003

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No, Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

OTHER STATUTORY INFORMATION (Continued)

At the date of this report, there have been:-

(a) no any significant charges towards Company's assets that guarantees other parties
liabilities since the end of financial year; or

(b) any contigent liability of the Company which has arisen since the end of financial year,

At the date of this report, the Directors are not aware of any circumstances which otherwise
stated in this report or Company's financial statement that will mislead any amount stated in
the financial report.

In the opinion of the Directors:

(a) the result of the Company's operation at the financial year is not significantly affected
by any itemized transactions or important and unusual events; and

(b) there have been no important and unusual events or transactions that appeared between
the end of financial year and the date of this report that will probably affect significantly
the Company's operation for the financial year in which this report is prepared.

ULTIMATE CORPORATION

The Directors regard Selangor Islamic Council (MAIS), a statutory corporation established
under the Enactment ofIslamic Laws 1997, as the ultimate corporation.

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

AUDITOR

The auditor, Afrizan Tarmili Khairul Azhar, have expressed willingness to continue in office.
On behalf of the Board,

DATO' MOHAMAD ADZm
Director

--~- ::::;12-

DATO' HJ MOHD ADANAN BIN ISMAN
Director
Kuala Lumpur, Malaysia
Date: 19 July 2004

Annual Report 2003 Kolej Islam selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

DIRECTORS' STATEMENT

Pursuant to Section 169 (15) Company Act, 1965

We, DATO' MOHAMAD ADZIB BIN MOHD ISA and DATO' HAJJ MOHD ADANAN
BIN ISMAN, two of the Directors of Kolej Islam Selangor Daml Ehsan Sdn Bhd, hereby
state that the Directors are of the opinion that the financial statement with the relevant notes
are prepared accordingly based on the standard accounting procedures approved in Malaysia
and the provisions of the Companies Act 1965, so as to give a true and fair view of the
following:-

(i) the Company's state of affairs as at 31 December 2003 and the results of the
Company's operation for the financial year ended on that date; and

(ii) the Company's cash flows for the financial year ended 31 December 2003.
On behalf of the Board,

DATO' MOHAMAD ADZIB
Director

---~- :::=;:2-

DATO' HAJI MOHD ADA AN BIN ISMA
Director
Kuala Lumpur, Malaysia
Date: 19 July 2004

AnnuaJReport2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

STATUTORY DECLARATION

Pursuant to Section 169 (16) Companies Act 1965

I, DATO' HAJI MOHD ADANAN BIN ISMAN, the responsible Director over the accounting
records and financial management of KOLEJ ISLAM SELANGOR DARUL EHSAN SDN.
BHD., solemnly and sincerely declare that the financial statement accompanied with relevant
notes are to my knowledge and trust is COlTect and I make this solemn declaration
conscientiously believing the same to be true and by the virtue of the Declarations Act 1960.

Subscribed and solemnly declared by ) &7iE-
The above nominee in Kuala Lumpur
Federal TelTitory DATO' HAJI MOHD ADANAN BIN ISMAN
On 19 July 2004

Before me,

Commisioner for Oaths
Kuala Lumpur, Malaysia.

No: 86. Tingkat Bawah
Jalan J!'utra

50350 KUALA LUMPUR

Annual Report 2003 Kolej Islam selangor Darul Ehsan Send irian Berhad

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lQhAOOf aas Branch a(fices
~ Yayasan Selangor
74, .latan Raja Muda Abdul Aziz AFRIZAN TARMILI KHAIRUL AZHAR 25A, Nedan Istana 2
50300 I'<Jata Lumpur Bandar lpoh Ray.
~: (603) 2681 8300 Chartered Accountants AF1300 JOOOO lpoh, Perak
Facsinile : (603) 2681 9300 Telephone: (605) 242 7179
..ma,l: [email protected] FacsImile: (605) 243 7179
e-mail: [email protected]
No. Syarikat : 365644 - V
Lot 202, Tingkat 1
LAPORAN JURUAUDIT KEPADA AHLI-AHLI .lolan Sultan Yahya ~
KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD. 15200 Kola Bharu
Telephone: (609) 745 3300/01
Facs1mlle : (609) 745 B02
e-mail: [email protected]

116C, Tingi<at 3
Wisma Datuk H) I.'OOd
.lotan Hang Tuah
75300 Melaka
Telephone: (6061281 1852
FacsImIle : (6061281 3227
e-mail: [email protected]

Kami telah mengaudit penyata kewangan KOLEJ ISLAM SELANGOR DARUL EHSAN SDN.
BHD., yang mengandungi lembaran imbangan Syarikat dan nota-nota kepada penyata kewangan
pada 31 Disember 2003 dan penyata pendapatan Syarikat, penyata perubahan dalam ekuiti
Syarikat serta penyata a1iran tunai Syarikat bagi tempoh kewangan berakhir pada tarikh tersebut.

Penyata kewangan ada1ah merupakan tanggungjawab para Pengarah Syarikat. Tanggungjawab
kami adalah mengemukakan pendapat ke atas penyata kewangan tersebut berdasarkan
pengauditan yang dijalankan.

Kami te1ah melaksanakan pengauditan menurut piawaian-piawaian pengauditan yang dilu1uskan
di Malaysia. Piawaian-piawaian ini memerlukan kami untuk merancang dan melaksanakan audit
bagi mempero1ehi semua maklurnat dan penjelasan, yang difikirkan perlu untuk menyediakan
kami dengan bukti yang mencukupi bagi memberi jaminan yang munasabah bahawa penyata
kewangan adalah bebas dari salahnyata yang ketara. Pengauditan kami merangkumi pemeriksaan
atas asas ujian, ke atas bukti yang berkaitan dengan amaun dan pendedahan di dalam penyata
kewangan. Pengauditan ini termasuklah penilaian ke atas prinsip-prinsip perakaunan yang
digunakan dan anggaran penting yang dibuat oleh para Pengarah serta menilai kecukupan
maklumat-maklurnat yang dibentangkan di dalam penyata kewangan. Kami percaya bahawa
pengauditan yang kami laksanakan menyediakan asas yang munasabah di dalam memberikan
pendapat kami.

Pada pendapat kami :-

(a) penyata kewangan yang telah disediakan dengan wajar menurut peruntukan-peruntukan
AIda Syarikat, 1965 dan piawaian-piawaian perakaunan yang diluluskan di Malaysia
supaya memberi pandangan yang benar dan saksama berkenaan :

i) perkara-perkara yang dikehendaki oleh Seksyen 169 Akta Syarikat, 1965 telah
diambilkira dalam penyata kewangan Syarikat; dan

ii) kedudukan urusan Syarikat pada 31 Disember 2003 dan tentang keputusan operasi
dan aliran tunai Syarikat bagi tempoh kewangan berakhir pada tarikh tersebut.

(b) rekod perakaunan dan rekod lain serta daftar yang dikehendaki oleh Akta Syarikat, 1965

untuk disimpan oleh Syarikat telah disimpan dengan semp es i dengan peruntukan
Akta tersebut.

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AFR£~ILI KHAIRUL AZHAR
AF: 1300

Akauntan Bertauliah (Malaysia)

Kuala Lumpur, Malaysia

Tarikh: 19 JUL 2004

Kuala Lumpur • Ipoh 7 • Kota Bharu • Melaka

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

INCOME STATEMENTS

For the financial year ended 3 I December 2003

Operations Income Note 2003 2002
Income from grants 2 RM RM
Other income 3 6,483,474
Income 2,000,000 3,636,174
Administrative expenses 4 865,375 9,310,108
Other Operating expenses 5 9,348,849
Total Expenses (6,988,101) 298,611
(Loss) / Profit before taxation (5,157,906) 13,245,893
Taxation (12,146,007) (6,088,825)
(Loss) / Profit after taxation (2.797,158) (5,117,543)
(11,206,368)
(2,797,158) 2,039,525

2,039,525

Annual Repart2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

BALANCE SHEETS

For the financial year ended 31 December 2003

Note 2003 2002
6 RM RM

Fixed Asset 7 4,051,758 3,924,161
Property, Plant and Equipment 7
Current Asset 4,074,559 2,275,777
Busines Creditors 241,498 163,439
Miscellaneous Creditors and Deposit 353,768 504,712
Bank Fix Deposit
Bank and Cash Balances 2,952,710 2,612,798

Current Liabilities 7,622,535 5,556,726
Business Debtors
Miscellaneous Debtors and Accrued 179,173 606,879
2,590,806 1,322,536

2,769,979 1,929,415

Net Current Assets 4,852,556 3,627,311

8,904,314 7,551,472

Shares and Reserves 8 500,000 500,000
Share capital
Accumulated profits 4,254,314 7,051,472

4,754,314 7,551,472

State Government Grant - related asset 9 150,000

4,904,314 7,551,472

Long Term Liabilities 10 4,000,000
Soft Loan from state government

8,904,314 7,551,472

Notes and financial statement are part of these financial statements

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No, Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

EQUITY IN CHANGES STATEMENTS

For the financial year ended 31 December 2003

As at 1" January 2002 Share Capital Profit / (Loss) Total
Profit in the financial year (RM) accumulated (RM)
As at 31 SI December 2002 500,000 5,511,947
As at 1" January 2003 (RM) 2,039,525
Loss in the financial year 500,000 7,551,472
As at 31 SI December 2003 500,000 5,011,947 7,551,472
(2,797,158)
500,000 2,039,525 4,754,314

7,051,472

7,051,472

(2,797,158)

4,254,314

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No, Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

CASH FLOW STATEMENTS

For the financial year ended 31 December 2003

Note 2003 2002
RM RM
Cash Flows from operational activities
(Loss) / Profit before taxation (2,797,158 ) 2,039,525

Adjustment: (2,000,000 ) (9,310,108 )
Excess from disposed property, plant and (14,029) (11,437)
equipment
Income from grants 1,826,766 1,729,555
Income from dividends
Depreciation from property, plant and (2,984,421 ) (5,552,465)
equipment
Operational loss before Working (1,798,782 ) 4,800
Capital Changes (78,059) 332,103

Changes in Working Capital: (427,706) 68,004
Inventory 1,268,270 466,219
Business Debtors (4,020,698 ) 802,811
Miscellaneous Debtors and Deposits (3,878,528 )
Creditors
Miscellaneous Creditors and Accrued 14,029 11 ,437
Net cash flow in operating activities (1,954,363 ) (3,965,259)

Cash flows from investment activities (1,940,334 ) (3,953,822)
Dividends acceptance
Purchase of property, plant and equipment

Net cash flow in investment activities

Cash flows from financingg activities 2,000,000 9,310,108
Income from grants 4,000,000
Easy loan from state government 9,310,108
Grant from state government - related asset 150,000
Net cash flow from financing activities 6,150,000 1,477,758
1,639,752
Cash net decrease & equivalent 7 188,968 3,117,510
Cash & cash equivalent bring forward 3,117,510
Cash & cash equivalent 3,306,478

Notes and financial statement is part of these financial statements

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

CLOSE

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

NOTES TO THE FI A CIAL STATEMENT

At 3 I December 2003

1. SIGNIFICANT ACCOUNTING POLICIES
a) Basis of Accounting

The Company's financial statement is prepared in accordance with the standard
accounting policies and procedures approved in Malaysia and comply with the
provisions of Companie Act 1965.

b) Property, plant and equipment

i) Assets owned
Property, plant and equipment is stated at cost or at valued priced less accumulated
depreciation and/or accumulated impairment losse . Any excess from the valuation
will be credited to the capital reserves.

The amount for property, plant and equipment was reviewed on the date of the
balance sheet to determine whether there were any ign of decline. Should any of
the signs appear, the recoverable amount of the property will be estimated. The loss
from the decline will be acknowledged when the amount for property, plant and
equipment exceeds the recoverable amount for the said property. Los from the
decline will be inserted in the income statement, unless it reduces the re-evaluation
carried before, whereby it will be put under equity. Any further increase in the
recoverable amount will be reduced by the same amount classified as depreciation,
where there is no actual value or written off value occurs. Any following increase
in the recoverable amount will be acknowledged in the income statement unles it
reduces the loss upon the re-evaluation, assets will be considered in equity.

ii) Depreciation
Property, plant and equipment are depreciated on a straight line basis in order to
write off the cost for property, plant and equipment over its lifespan of usage as the
following :-

Building %
Books 2
Air-Conditioning 10
Road Facilities 10
Signages 10
Electrical Wiring 10
Sports Equipment and Facilities 10
Co-curricular Equipment 10
Lab Equipment 10
Telecommunications System 10
Renovations 10
Audio Visual 10
Vehicles
20
20

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

Cabling 20
Furniture and Fittings 20
Office Equipment 20
Computer Equipment 33.5

c) Grants

(i) Income related grants
Income related grants are directly accounted to the income statement upon as it is
received.

(ii) State government grant - related to asset

State government grant occurs whenever the state government honours the grant to
enable the company to posses, own or build long-term asset.

The grant will be disposed into the income statement ba ed on the life span of the
asset in accordance to the depreciation ratio imposed.

d) Debtors

e) Inventory

Inventory is stated at cost and significant net value.

t) Income

Incomes for the Company comes from the registration fees, tuition fees, programme
fees and examination fees received from the students.

Income is acknowledged according to the course duration.

(g) Cash and cash equivalent

Cash and cash equivalent consists of cash at hand and deposits in the bank as well as
short term investment and bank overdraft.

2. INCOME FROM OPERATION

Income for company's operation comes from registration fees, tuition fees, programme
fees and examination fees received from students.

3. INCOME FROM GRANT

The RM2,000,000 (2002:RM9,310,1 08) grant is funded by the Selangor Islamic
Council (MAIS) and the Selangor State Government. The grant will be used to finance
the Company's operational management.

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

NOTES TO THE FINANCIAL STATEMENT AT 31st DECEMBER 2003 (Continued)

4. (LOSS) / PROFIT BEFORE TAXATION
(Loss) / Profit before taxation is acquired after (credited) / imposed the following
items:-

Dividends 2003 2002
Staff cost RM RM
Hostel rental, hall equipment & transportation (14,029) (11,437)
Depreciation on property, plant and equipment 6,803,172 5,952,533
Auditing fees 128292 198,350
1,826,766 1,729,556
15,000 15,000

The total number of Company's staff at 31st December 2003 i 245. (2002 : 165 staff)

5. TAXATION

There are provisions on taxation for the current year. The company is still in the process of
acquiring tax exemption from the Ministry of Finance for its grant income received.

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

::t> (Incorporated in Malaysia)
'"'"<::
~ 6. PROPERTY, PLANT AND EQUIPMENT

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IV> Office furniture and Computer Renovations
fittings, Signages, equipment Electrical
I'D wiring,
Telecommunications Road
liT system, facilities &
:> Cabling
Air-Conditioning &
<0 Audiovisual

Q Net Book Value 1,725,723
586,053
0 On 1/1/2003 (693,141) 69,438 756,167
779,018 109,048
OJ 1,618,635 (709,005) (151,142)

£. Increment 139,451 714,073
m::r
Depreciation
V>
OJ
On
:>

V> 31/12/2003
I'D

:>
9:
::!.
OJ
On
:>

ro 31112/2003

I'D
3-
OaJ. Cost 4,163,550 2,798,067 1,573,926
(2,544,915) (2,658,616) (859,853)
Accumulated 1,618,635 714,073
139,451
Depreciation

Net Book

Value

On 3,577,497 2,019,049 1,464,878
31112/2002 (1,851,774) (1,949,611) (708,711)
Cost 1,725,723 756,167
Accumulated 69,438
Depreciation
Net Book
Value

s,

Vehicles Books Sports & Building Lab Total
Co-Curriculum equipment

equipments

572,742 777,339 22,752 . - 3,924,161
85,000 290,523 391 1,954,363
(114,811) 92,840 11,490 (1,826,766)
(155,097) (3,046) (524)
953,051 - 4,051,758
502,645 20,097 92,316
11,490

832,158 1,357,745 30,533 92,840 11,490 10,860,309
(10,436) (524) (6,808,551 )
(329,513) (404,694) 20,097 - 4,051,758
92,316
502,645 953,051 11,490

747,158 1,067,222 30,142 8,905,946
(7,390) (4,981,785 )
(174,416) (289,883) 22,752 3,924,]6]

572,742 777,339

CLOSE

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

OTES TO THE FINANCIAL STATEMENTS AT 31 DECEMBER 2003 (Continued)

7. CASH AND CASH EQUIVALENTS

Fixed Deposit in Bank 2003 2002
Bank Balances RM RM
Cash Balances 353,768 504,712
2,951,723 2,604,261
8. SHARE CAPITAL 8,537
987
3,117,510
3,306,478

AUTHORISED: 2003 2002
1,000,000 ordinary shares valued at RM I each RM RM
ISSUED AND FULLY PAID:
500,000 ordinary shares valued at RM 1 each 1,000,000 1,000,000

500,000 500,000

9. STATE GOVERNMENT GRANTS - ASSET RELATED

2003 2002
RM RM

Balance at 1" January 150,000
Granted grant on the current year 150,000
Balance at 31" December

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

CLOSE

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

NOTES TO THE FINANCIAL STATEMENTS AT 31 DECEMBER 2003 (Continued)

10. SOFT LOAN FROM THE STATE GOVERNMENT

2003 2002
RM RM
4,000,000
Soft loan from the state government

Soft loan from the state government is a non-interest loan received from the Selangor State
Government with total amount of RM4,000,000 (2002:Nil) with 15 years repayment term starting
from the year 2008.

11. ULTIMATE BODY

The ultimate body is Selangor Islamic Council (MAIS), a statutory body established under the
Enactment of Islamic Laws 1997, and holds a 99.99% (2003:99.99%) of the Company's equity
interest.

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

CLOSE

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. BHD.

(Incorporated in Malaysia)

DETAILED INCOME STATEMENT

For the financial year ended 31" December 2003

Income 2003 2002
Income from grants RM RM
Dividends on general investments 6,483,474 3,637,174
Hibah 2,000,000 9,310,108
Contributions 14,029 11,437
Other income 53,130 44,284
Total income 154,621 44,205
643,595 198,685
Early stock 9,348,849 13,245,893

Administration Expenses 4,800
Bonus*
Wages, Allowances & Overtime allowances* 352,836 390,673
KWSP* 5,623,322 4,872,260
Research & Development
PERKESO* 754,890 624,619
Stamps & mail 1,720 77,234
Auditing fees 64,981
Legal fees 72,124 7,809
Secretarial fees 7,040 15,000
Accounting fees 6,760
Taxation services fees 15,000 4,989
Programme/Course application fees 10,300 2,100
Consultancy fees
2,749 17,600
Other operational expenses 6,088,825
Payment for surrounding cleaning services 6,680
Landscaping expenses 90,000
Bank charges 51,440
Telephone and cable charges 6,988,101
Souvenir and gifts
Doubtful debt allowance 338,958 244,322
Water and electricity 92,919 143,951
Penalties 262
Leasing charges 151,815 281
Balance bring forward 24,775 118,125
113,875 56,152

987,529 742,162
1,460 427

38,088 1,305,420
1,749,681

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

CLOSE

No. Syarikat : 365644 - V

KOLEJ ISLAM SELANGOR DARUL EHSAN SDN. RHD.

(Incorporated in Malaysia)

DETAILED INCOME STATEMENT

For the financial year ended 31" December 2003 (Continued)

2003 2002
RM RM

Balance brought forward 1,749,681 1,305,420

Insurance and road tax 17,443 16,834
Magazines, books and newspaper 23,507 19,364
Celebrations 25,205 35,601
Convocation and Orientation 67,222 158,122
Other staff expenses 58,836 29,728
Training and seminar 83,066 98,479
Ta' amf Week 97,545 165,255
Uniform 7,261 20,052
Student pass and visa 8,645
Miscellaneous expenses 8,746 80,188
Course accreditation and registration 35,946 12,382
Promotion and advertising 22,993 88,004
Maintenance and repair 96,829 281,082
Printing and office stationery 300,200 375,603
Travel and accommodation 247,379 121,986
Students' Club and activities 100,431 93,418
Medical 55,492 169,318
Security control services 135,253 4,008
Rental of hostel, hall, equipment and transportation 198,350
Contributions and donations 1,826 3,500
Depreciation of property, plant and equipment 128,292 1,729,555
Takaful 102,649
11,200 5,117,543
1,826,766
11,206,368
56,787
5,157,906 2,039,525

Total expenditure 12,146,007

(Loss) / Profit before taxation (2,797,158)

*Staff cost = RM6,803,172 (2002: RM5,952,533)

This statement is not part of audited statutory financial statement

Annual Report 2003 Kolej Islam Selangor Darul Ehsan Sendirian Berhad

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