《第19届（2019-2021）第2次中央代表大会暨选举新届中央委员》财政报告

19 2⻢来⻄亚⻘年团结运动（⻘团运）

第 届第 次

中央代表⼤会

暨选举新届中央委员会

MESYUARAT AGUNG TAHUNAN

KALI KE-2 PENGGAL KE-19 GBBM

DAN PEMILIHAN JAWATANKUASA KERJA PUSAT

26.12.21 | 8.00pm
Zoom Meeting

LAPORAN BENDAHARI KEHORMAT

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

REPORTS
AND

FINANCIAL STATEMENTS
31 DECEMBER 2020

HENRY TEE & CO. (AF 1516)
Chartered Accountants

Registration No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Reports and Financial Statements
31 December 2020

TABLE OF CONTENTS PAGE NO.

Pertubuhan Information 1
Statement by Committee Members 2
Independent Auditors' Report 3-5
Statement of Comprehensive Income 6
Statement of Financial Position 7
Statement of Cash Flows 8
Notes to the Financial Statements 9 - 18

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Pertubuhan Information

President : Beh Hong Gi
Secretary
Treasurer : Phoon Chan Wooi
Auditors
: Lim Soon Pin
Registered Office
: Henry Tee & Co. (AF 1516)
Principal Place of Business Chartered Accountants
No. 609, 6th Floor, Menara Mutiara Majestic
Principle Bankers No. 15, Jalan Othman, Section 3
46000 Petaling Jaya
Selangor Darul Ehsan

: 2nd Floor, No. 8, Jalan Cempaka 14
Taman Cempaka
68000 Ampang
Selangor Darul Ehsan

: 2nd Floor, No. 8, Jalan Cempaka 14
Taman Cempaka
68000 Ampang
Selangor Darul Ehsan

: RHB Bank Berhad

1









Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Statement of Comprehensive Income
for the year ended 31 December 2020

Revenue Note 2020 2019
Cost of sales 3 RM RM
Gross profit 70,603 232,706
Other operating expenses (11,166) (194,161)
Net surplus / (deficit) for the year 59,437 38,545
(59,737) (104,173)
(300) (65,628)

6

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Statement of Financial Position as at 31 December 2020

Accumulated fund Note 2020 2019
4 RM RM

341,070 341,370

Non current assets 6 513,330 536,470
Property, plant and equipments
5 1,500 1,500
Current assets 31,008 8,435
Other receivables, deposits and prepayments 266
Cash and bank balances -
Current tax assets 32,774
9,935
Current liabilities
Other payables and accruals 7 90,554 90,555
Property held in trust 114,480 114,480

Net current liabilities 205,034 205,035

(172,260) (195,100)

341,070 341,370

7

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Statement of Cash Flows for the year ended 31 December 2019

Cash flows from operating activities 2020 2019
Cash received from revenue RM RM
Cash payment to operating expenses
234,057 241,387
Net cash generated from / (used in) operating activities (218,623) (320,153)

15,434 (78,766)

Net changes in cash and cash equivalents 15,434 (78,766)
Opening balance of cash and cash equivalents (6,999) 71,767
Closing balance of cash and cash equivalents 8,435 (6,999)

Analysis of cash and cash equivalents 31,008 8,435
Cash and bank balances 31,008 8,435

8

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

These notes form an integral part of and should be read in conjunction with the accompanying financial
statements.

1. General information

1.1 Principal activity
The Organisation is principally engaged in the business as healthy platform for youths and
received overwhelming support from all social and political parties. There have been no
significant changes in the principle activity during the financial year.

1.2 Legal form and domicile
The Pertubuhan Gerakan Belia Bersatu Malaysia is established under the Section 10 of Youth
Societies & Youth Development Act 2007 on 26 June 2008.

1.3 Authorisation for issue
The financial statements were authorised for issue on

2. Significant accounting policies

2.1 Basis of preparation
The financial statements of the Organisation have been prepared under the historical cost basis,
unless otherwise indicated in the following significant accounting policies. The financial
statements comply with Malaysian Private Entities Reporting Standard ("MPERS") issued by the
Malaysian Accounting Standards Board ("MASB") and the requirements of the Youth Societies
& Youth Development Act 2007 in Malaysia.

2.2 Revenue recognition
(i) Contribution fund is recognised as revenue upon actual receipt.

(ii) Revenue from sales of uniform, badges, flags and others are recognised upon delivery.

2.3 Employee benefits
(i) Short-term employee benefits
Wages, salaries, bonuses and social security contributions are recognised as an expense in the
period in which the associated services are rendered by employees of the Organisation. Short-
term accumulating compensated absences such as paid annual leave are recognised when
services are rendered by employees that increase their entitlement to future compensated
absences, and short-term non-accumulating compensated absences such as sick leave are
recognised when the absences occur.

9

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.3 Employee benefits - continued
(ii) Defined contribution plans
As required by law, the Organisation makes contributions to the state pension scheme, the
Employees Provident Fund (“EPF”). Such contributions are recognised as an expense in the
statement of comprehensive income as incurred.

2.4 Income taxes
Income tax expense represents sum of the current tax and deferred tax.

The current tax is the amount of income taxes payable in respect of the taxable profit for a period.
Taxable profit differs from net profit as reported in the statement of comprehensive income
because it excludes items of income or expense that are taxable or deductible in other periods and
it further excludes items that are never taxable or deductible. The Organisation’s liability for
current tax is calculated using tax rates that have been enacted or substantively enacted by the
statement of financial position date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying
amount of assets and liabilities in the financial statements and the corresponding tax basis used in
the computation of taxable profit, and is accounted for using the statement of financial position
liability method.

Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred
tax assets are recognised to the extent that it is probable that taxable profits will be available
against which deductible temporary differences can be utilised. Such assets and liabilities are not
recognised if the temporary difference arises from the initial recognition of other assets and
liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each statement of financial position date
and reduced to the extent that it is no longer probable that sufficient taxable profit will be
available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates
that are expected to apply in the period when the liability is settled or the asset realised. Deferred
tax is charged or credited in the statement of comprehensive income, except when it relates to
items charged or credited directly to equity, in which case the deferred tax is also recognised in
equity.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same
taxation authority and the Organisation intents to settle its current tax assets and liabilities on a
net basis.

10

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.5 Borrowings and borrowing costs
All other borrowing costs are recognised as expenses in the statement of comprehensive income
in the period in which they are incurred.

2.6 Impairment of assets
The carrying amounts of assets, except assets presented as inventories and financial assets, are
reviewed for impairment when there is an indication that the assets might be impaired.
Impairment is measured by comparing the carrying amounts of the assets with their recoverable
amounts. The recoverable amount is the higher of an asset’s net selling price and its value in use,
which is measured by reference to discounted future cash flows. Recoverable amounts are
estimated for individual assets, or if it is not possible, for the cash-generating unit.

An impairment loss is recognised as an expense immediately in the statement of comprehensive
income. Subsequent increase in the recoverable amount of an asset is treated as reversal of the
previous impairment loss. It is recognised to the extent of the carrying amount of the asset that
would have determined (net of amortisation and depreciation) had no impairment loss been
recognised. The reversal is recognised in the statement of comprehensive income immediately.

2.7 Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and impairment
losses.

Depreciation is charged to the statement of comprehensive income on a straight line basis over the
estimated useful lives of items of property, plant and equipment, except those leased under
finance lease, where applicable. If there is no reasonable certainty that the ownership will be
transferred to the Company by the end of the lease term, an item of property, plant and equipment
is depreciated over the shorter of its useful life and the lease term.

The principal annual rates adopted are as follows:-

Air conditioners 20%
Computer 20%
Curtain and blind 20%
Furniture and fittings 20%
Leasehold land and buildings 2%
Office equipment 20%
Renovation 20%

On derecognition or disposal of an item of property, plant and equipment, the difference between
net disposal proceeds, if any, and its carrying amount is charged or credited to the statement of
comprehensive income.

11

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.8 Inventories
Inventories are stated at the lower of cost and net realisable value. Cost comprises the actual
purchase price of goods and incidentals incurred in bringing the goods to their present location
and condition. Cost is determined on first-in, first-out basis method. In arriving at the net
realisable value, provision is made, where necessary, for obsolete and slow moving items.

2.9 Receivables and payables
Receivables are stated at cost less an allowance for any uncollectible amounts. An estimate for
doubtful debts is made when collection of the full amount is no longer probable. Bad debts are
written off as incurred.

Payables are stated at cost.

2.10 Provisions
Provisions are recognised in the statement of financial position when the Organisation has a
present legal or constructive obligation as a result of past events, when it is probable that an
outflow of resources will be required to settle the obligation and when a reliable estimate of the
amount can be made.

A provision is initially measured at the best estimate of the amount required to settle the
obligation at the reporting date. When the effect of the time value of money is material, the
amount of a provision shall be the present value of the amount expected to be required to settle
the obligation. Thereafter, the provision is reviewed at each reporting date and adjust it to reflect
the current best estimate of the amount that would be required to settle the obligation at that
reporting date. Any adjustments to the amounts previously recognised is recognised in profit or
loss. When a provision is measured at the present value of the amount expected to be required to
settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss
in the period it arises.

2.11 Statement of cash flows
The Organisation reports the cash flow from operating activities using direct method.

Cash and cash equivalents consists of bank balances, deposit repayable on demand and highly
liquid investments that are readily convertible to known amounts of cash and subject to an
insignificant risk of changes in value, against which the bank overdrafts are deducted.

12

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.12 Financial Instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.

(i) Initial recognition and measurement
A financial asset or a financial liability (including derivative instruments) is recognised only
when the entity becomes a party to the contractual provisions of the instrument.

On initial recognition, a financial asset or a financial liability is measured at the transaction
price, including transaction costs. For a financial asset or a financial liability that is
subsequently measured at fair value through profit or loss, transaction costs are expensed to
profit or loss when incurred.
An arrangement constitutes a financing transaction, if payment is deferred beyond normal
business terms. Under a financing transaction, a financial asset or a financial liability is
measured at the present value of the future payments discounted at a market rate of interest
for a similar debt instrument as determined at initial recognition.

(ii) Subsequent measurement
Debt instruments are measured at amortised cost using the effective interest method. Debt
instruments that are classified as current assets or current liabilities are measured at the
undiscounted amount of the cash or other consideration expected to be paid or received,
unless the arrangement constitutes, in effect, a financing transaction.

All financial assets are subject to review for impairment, except for financial assets measured
at fair value through profit or loss.

(iii) Impairment
At the end of each reporting period, financial assets that are measured at cost or amortised
cost are assessed as to whether there is objective evidence of impairment. If there is objective
evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For a financial asset measured at amortised cost, the impairment loss is the difference
between the asset’s carrying amount and the present value of estimated cash flows discounted
at the asset’s original effective interest rate. If such a financial asset has a variable interest
rate, the discount rate for measuring any impairment loss is the current effective interest rate
determined under the contract.

13

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.12 Financial Instruments - continued
(iii) Impairment - continued
For a financial asset measured at cost less impairment, the impairment loss is the difference
between the asset’s carrying amount and the best estimate of the amount that would be receive
for the asset if it were to be sold at the reporting date.

If, in a subsequent period, the amount of an impairment loss decreases and the decrease can
be related objectively to an event occurring after the impairment was recognised, the
previously recognised impairment loss is reversed in profit or loss.

(iv) Derecognition
A financial asset is derecognised only when (i) the contractual rights to receive the cash flows
from the financial asset expire or are settled; or (ii) the entity transfers to another party
substantially all of the risks and rewards of ownership of the financial asset, including
circumstances when the entity acts only as a collecting agent of the transferee, and retains no
significant risks and rewards of ownership of the financial asset or no continuing involvement
in the control of the financial asset transferred.

A financial liability is derecognised only when it is extinguished, i.e. when the obligation
specified in the contract is discharged, is cancelled or expired. A substantial modification of
the terms of an existing financial liability is accounted for as an extinguishment of the original
financial liability and the recognition of a new financial liability.

2.13 Use of estimate and judgements
The preparation of fnancial statements requires management to make judgements, estimates and
assumptions that affect the application of policies and reported amounts of assets, liabilities,
income and expenses. The estimates and associated assumptions are based on historical
experience and various other factors that are believed to be reasonable under the circumstances,
the results of which form the basis of making judgements about carrying amounts of assets and
liabilities that are rarely apparent from other sources.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised, if revision
affects only that period, or in the period of the revision and future periods, if the revision affects
both current and future periods.

Estimates and judgements
The key assumptions concerning the future, and other key sources of estimation uncertainty at the
reporting date, that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial period:

14

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

2. Significant accounting policies … continued

2.13 Use of estimate and judgements - continued
(i) Measurement of provision
Management evaluates the estimates based on the historical experience and other inputs or
assumptions, current developments and future events that are reasonably possible under the
particular circumstances. A probability-weighted estimate of the outflows required to settle
the obligation is used. The actual outcome may differ from the estimates made and this may
have a significant effect on the Company's financial position and financial performance.

(ii) Impairment of receivables
The Company recognises impairment losses for receivables using the incurred loss model.
Individually significant receivables are tested for impairment separately by estimating the
cash flows expected to be recoverable. All others are grouped into credit risk classes and
tested for impairment collectively, using the past experience of loss statistics, ageing of past
due amounts and current economic trends. The actual eventual losses may be different from
the allowance made and this may affect the Company's future financial position and financial
performance.

3. Revenue
This represents the revenue recognised upon actual receipt, sales of uniform, badges, flags and others
upon delivery.

4. Accumulated fund

2020 2019
RM RM

Beginning of year 341,370 406,998
Net (deficit) / surplus for the year (300) (65,628)
341,370
341,070

5. Other receivables, deposits and prepayments

2020 2019
RM RM

Deposits 1,500 1,500
1,500 1,500

15

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSAT

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

6. Property, plant and equipments

2020 Air Computer Curtain
Cost conditioners RM and blind
At 01 January 2020
Addition RM 9,512 RM
Written off -
At 31 December 2020 13,795 - 687
- -
- 9,512 -

13,795 687

Accumulated depreciation 12,508 7,608 550
At 01 January 2020 1,285 1,902 136
Charge for the year
Written off - - -
At 31 December 2020 13,793 9,510 686

Net carrying amount 22 1
At 31 December 2020

16

TU MALAYSIA

Furniture Leasehold land Office Renovation Total
and fittings and building equipment RM RM

RM RM RM 56,209 741,186
- -
9,238 624,480 27,265 - -
- - -
- - - 56,209 741,186

9,238 624,480 27,265 204,716
23,140
9,032 98,669 27,264 49,085
204 12,490 - 7,123 -
- - 227,856
- -
9,236 111,159 27,264 56,208 513,330

2 513,321 1 1

6

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSAT

(Registered in Malaysia)

Notes to the Financial Statements
31 December 2020

6. Property, plant and equipments - continued

2019 Air Computer Curtain
Cost conditioners RM and blind
At 01 January 2019
Addition RM 9,512 RM
Written off -
At 31 December 2019 13,795 - 687
- -
- 9,512 -

13,795 687

Accumulated depreciation 11,222 5,706 413
At 01 January 2019 1,286 1,902 137
Charge for the year
Disposal - - -
At 31 December 2019 12,508 7,608 550

Net carrying amount 1,287 1,904 137
At 31 December 2019

17

TU MALAYSIA

Furniture Leasehold land Office Renovation Total
and fittings and building equipment RM RM

RM RM RM 56,209 741,186
- -
9,238 624,480 27,265 - -
- - -
- - - 56,209 741,186

9,238 624,480 27,265 177,455
27,261
8,828 86,179 27,264 37,843
204 12,490 - 11,242 -
- - 204,716
- -
9,032 98,669 27,264 49,085 536,470

206 525,811 1 7,124

7

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Notes to the Financial Statements 2020 2019
31 December 2020 RM RM

7. Other payables and accruals 5,240 5,240
6,750 6,750
Accrued expenses 78,564 78,565
Deposit received 90,554 90,555
Others

8. Currency
All amounts are stated in Ringgit Malaysia.

18

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Detailed Statement of Comprehensive Income
For the year ended 31 December 2020

2020 2019
RM RM

Revenue 43,058 67,934
Fund allocation, donation and grants 1,800 5,605
Joining fee and members' subscriptions - 4,200
Life membership fee 1,045
World high school C.D.Champ 3,500 61,665
Program - AGM 2019 - 3,197
Program - E-usahawan 1,650 900
Program - Kim sir story telling - -
Program - 2019 Wuhan
Rental income 19,500 54,980
Sales of certificates - 33,800
Sales of uniform 50
25
70,603 400

232,706

Less : Cost of sales
Activities associate with EMCO
AGM 3,000 6,730
Inventories - 18,648
- 22,474
MBM subscription fee and AGM admission fee
Program - Kim sir story telling (200) 200
Wuhan program 2,110 -
World high school C.D.Champ 42,462
YSA event - 95,292
6,256 8,355
Gross profit 194,161
-
11,166 38,545

59,437

This statement is prepared for management purposes only and does not
form part of the audited financial statements of the Organisation

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Detailed Statement of Comprehensive Income
For the year ended 31 December 2020

2020 2019
RM RM

Less : Operating expenses 3,000
Administration expenses
3,300 1,200
Accounting fee 79
Auditors' remuneration 1,200
- current year 24 599
Bank charges 15 27,261
Courier, postage and stamps
Depreciation of property, plant & equipments 23,140 490
Gift and hamper 105 1,469
Greeting and condolence 2,092
Internet fee 1,408
License fee 3,760 50
Office cleaning 3,000
Office sundries (50)
Printing and stationery 1,260 155
Quit rent and assessment 1,671
Rental of photostat machine 162 3,114
Service tax 211
Sewerage charges 164 340
Taxation 90
Tax fee -
Telephone charges 241 348
Training fee 319 1,046
Travelling and tranportation charges 709
Upkeep of computer 1,200 600
Upkeep of office 729 96
Water and electricity
Website expenses - 6,120
140 163
160 -
5,444
2,347 4,200
1,749 3,006

47,737 -

60,189

This statement is prepared for management purposes only and does not
form part of the audited financial statements of the Organisation

Reference No. PPBM 0003/08

PERTUBUHAN GERAKAN BELIA BERSATU MALAYSIA

(Registered in Malaysia)

Detailed Statement of Comprehensive Income
For the year ended 31 December 2020

2020 2019
RM RM

Less : Operating expenses 63
4,134
staff's costs :- -
Other employees' emoluments and benefits - 40
- 32,700
EIS contribution -
EPF contribution - 547
Medical fee 12,000 6,500
Salaries and allowance 12,000 43,984
SOCSO contribution 59,737 104,173
Wages
104,173
Total operating expenses 59,737
Net surplus / (deficit) for the year (300) (65,628)

This statement is prepared for management purposes only and does not
form part of the audited financial statements of the Organisation