Suria Capital's 37th Annual General Meeting

Suria Capital Holdings Berhad held its 37th Annual General Meeting (AGM) on Tuesday, 30 June 2020. In view of the COVID-19 pandemic and in accordance to the guidelines issued by the Securities Commission, the AGM was conducted virtually from the broadcast venue at Wisma SabahPorts. The AGM was chaired by Tan Sri Ibrahim Menudin from his office in Kuala Lumpur, joined by other Board of Directors, Group Managing Director, Company Secretary and Chief Financial Officer present at the broadcast venue.

The Company announced SuriaGroup’s profit net of tax of RM52.2 million in 2019, which dropped marginally from RM52.9 million in 2018. SuriaGroup’s gross profit eased by 13% to RM83.1 million in 2019 as against RM95.7 million in 2018.  SuriaGroup had registered lower revenue from operations of RM250.5 million, down by RM13.3 million or 5% as compared to RM263.8 million in 2018, attributable mainly to lower contribution by its core business in port operations.

The Shareholders had approved a final tax-exempt dividend of 2.5% or 2.5 sen per ordinary share. This final dividend together with interim dividend paid in December 2019 made up a total dividend payout of RM17.3 million which is equivalent to 5.0% or 5.0 sen net per ordinary share. It represented a payout ratio of 33.1% against 35.4% in the year 2018. The final dividend was paid to the Shareholders on 30 July 2020.

The voting procedure was conducted by way of poll which proportionately to the shareholders present based on the number of shares held. The voting was done remotely through electronic voting and administered by the Poll Administrator, Tricor Investor & Issuing House Services Sdn Bhd. The poll voting results was verified by Scrutineer Solutions Sdn Bhd as the Independent Scrutineer.

All Resolutions put forward during the AGM were approved by the Shareholders and subsequently, announcement to Bursa Malaysia Securities Berhad on the outcome of the AGM was made on the same day. 

Questions raised by Shareholders can be viewed HERE

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Date: 
30 June 2020