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KHIND HOLDINGS BERHAD (380310-D)
Manufacturer & Marketer for

KHIND HOLDINGS BERHAD annual report 2010

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KHIND HOLDINGS BERHAD annual report 2010

KHIND HOLDINGS BERHAD annual report 2010

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Khind makes it a part of everyday business

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KHIND HOLDINGS BERHAD annual report 2010

KHIND HOLDINGS BERHAD annual report 2010

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KHIND HOLDINGS BERHAD annual report 2010

contents
Contents 7 Chairman and Group CEO's Joint Statement 8 - 11 Corporate Structure Corporate Information Profile of Board of Directors Statement on Corporate Governance Statement of Corporate Responsibility Statement on Internal Control Report on Audit Committee Financial Calendar Financial Statements Statistics on Shareholdings Directors' Shareholdings List of Properties Held by the Group Investors' Information Khind Group Offices and Address Notice of Annual General Meeting Statement Accompanying the Notice of AGM Proxy Form 12 13 14 - 17 18 - 23 24 - 26 27 28 - 29 30 31 - 91 92 - 93 94 95 96 97 98 - 101

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KHIND HOLDINGS BERHAD annual report 2010

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Chairman and Group Chief Executive Officer Joint Statement
Dear Shareholders, Your Board is honoured to share with you the Company and Group performance for the financial year ended December 31, 2010. A Year of moderate improvement In 2010 Malaysia continued to feel the after-effects of the 2009 contagion albeit at a more measured scale, that led to a slightly better performance across all sectors of the economy. The Malaysian economy experienced a return to growth, recording an expansion of 7.2% in terms of gross domestic product (GDP) following the downturn in 2009. Against a gradually improving domestic and global recovery, your Company was able to turn in a modest performance given that it was impacted by slower recovering consumer confidence in the country, while maneuvering through some unexpected political shocks that affected the Middle East region where it exports a large majority of its products. In a year of fair growth, the Company also continued to remain relevant to consumers in the country and around the globe. The strategy of investing in Blue Ocean Products (BOP) remained a commitment to ensuring that the Company was able to compete in an increasingly competitive and crowded space. Consumer Electrical Appliances Sector performance in 2010 Overall, capital spending in the sector was led largely by the foreign multinational companies (MNCs) in the electrical and electronics (E&E) industries. While the percentage of approved investment in the E&E industries declined to 28.7% of the total manufacturing investment amount from 32.3% (source: Economic Report 2010 – Bank Negara Malaysia) E&E exports particularly semiconductors rose significantly in the first half, benefiting from inventory restocking in the global electronics industry. Moving into the latter half of the year, the moderation in regional demand led to the softening of electronics exports which resulted in a slower uptake of product inventory. Nevertheless, in Group revenue for the period ended December 31, 2010 was RM196.02 million, representing a 6.8% increase over 2010 performance Domestically, consumer spending was also sustained by fairly liberal access to credit as a result of an accommodative monetary environment that prevailed during the year. Against this backdrop, the country recorded a better growth of 6.3% in 2010 (2009: -0.5%) in terms of private spending. Despite the moderation in the global economy in the second half-year, local consumer demand conditions remained robust throughout the year, driven largely by private sector activity. Household consumption increased at a faster pace, while private investment rebounded strongly to record double-digit growth. All these factors contributed to the Group’s overall performance in 2010. As a consequence of a more positive economic condition, headline inflation also averaged 1.7%...
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