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TIME ENGINEERING BERHAD (10039 - P)

STRENGTHENING TIES

annual report 2008

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Contents
Corporate Profile 5-Year Financial Highlights Productivity of Resources Chairman’s Statement Expansion and Growth of the Business Review of Operations People and Organisational Development Human Capital Development Systems and Processes Improvement Statement on Corporate Governance 16 Profile of Board of Directors 43 13 8 4 1 2 Audit Committee Report Statement on internal Control 23 27 Share Performance Chart Financial Statements Changes in Authorised and issued Share Capital Analysis of Shareholdings List of Properties 35 38 39 40 42 Notice of Thirty Ninth Annual General meeting Statement Accompanying Notice of Thirty Ninth Annual General meeting Administrative Details Form of Proxy 46 47 Image and Perception Improvement Corporate Social Responsibility Group Calendar of events 2008 Financial Diary / Corporate Announcements 2008 Corporate Structure Group Corporate Directory Corporate information Board of Directors 29 31 98 103 106

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Corporate Profile

Time engineering Berhad (“Time”) is a leading information technology (“iT”) infrastructure service provider that offers services and solutions catering to both domestic and international markets, ranging from e-Commerce, managed Services, Project Fulfillment, Asset maintenance and Contact Centre of excellence. Time Group of Companies includes Dagang Net Technologies Sdn Bhd (“Dagang Net”), Time Systems integrators Sdn Bhd (“TSi”), Time Quantum Technology Sdn Bhd (“TQT”) and Toplink Advisory and management Services Sdn Bhd (“Toplink”).

At Time, we are determined to be the partner of choice for customers. We embrace the convergence of various evolving technologies whilst playing our role as a partner in nation building. Guided by the mandate to help build the nation, we aim to innovate, create and share iT-driven knowledge and tools as the driving force for malaysia’s growth and competitiveness. We are committed to continuously develop and diffuse information and communication technologies for infrastructure, content and applications. We enable tomorrow’s solutions today. A Government-Linked Company (“GLC”), Time is also part of the Uem Group.

our vision&mission
Vision To be a world class iT infrastructure service provider Mission • • To be a trusted and loyal business partner To enable our customers to operate with maximum efficiency and reliability

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5-Year Financial Highlights
Revenue RM (’000)
547,864

Profit/(Loss) Before Taxation RM (’000)

600

50 0

444,077

422,125

-100 -150

151,040

-250 -300 -350

200

100

-400

04

05

06

07

08

(359,635)

300

173,933

-200

(254,390)

400

(29,372)

-50

04

05

06

07

08

Net Earning/(Loss) Per Share Sen

Net Assets Per Share RM
0.6

10 0.5

4.75

-20

-4.50

-10

-4.82

0.4

-34.50

0.3

0.55

0

0.15

-30

0.20

0.2

-49.80

-40

0.1

-50

04

05

06

07

08

0.20

04

05

06

07

0.15 08

(15,328)

500

48,227

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5-Year Financial Highlights (cont’d)
CONSOLIDATED BALANCE SHEETS (RM’000) 2004 investments Other Assets Total Assets Share Capital Reserves equity attributable to equity holders of the company minority interest Borrowings Other Liabilities Total equity and Liabilities 1,036,719 697,019 1,733,738 768,155 (348,130) 420,025 7,645 1,183,341 122,727 1,733,738 2005 813,942 186,608 1,000,550 775,245 (621,424) 153,821 12,405 776,383 57,941 1,000,550 As at 31 December 2006 631,200 299,419 930,619 775,245 (656,100) 119,145 11,980 647,855 151,639 930,619 2007 429,430 327,013 756,443 775,245 (619,302) 155,943 15,913 397,458 187,129 756,443 2008 348,599 207,706 556,305...
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