Lion Corporation BHD
Vision: To be among the top 10% lowest cost steel producers in the world Mission: We are committed to make Lion Corporation a caring organisation and be recognised for excellence in quality, growth and profitability.
Objective: Reposition the Company steel division back to profitable industry within 5 years Corporate governance statement
The Board of Directors (“Board”) recognizes the importance of practicing and maintaining good corporate governance to direct the businesses of the Group towards enhancing business prosperity and long term value for its shareholders. The Board is fully committed in ensuring that the highest standard of corporate governance is practiced and maintained throughout the Group as the underlying principle in discharging its responsibilities. The Board is pleased to present below a description of how the Group has applied the principles of good governance and the extent to which it has complied with the best practices set out in the Malaysian Code on Corporate Governance (“Code”). These principles and best practices have been applied consistently throughout the financial year ended 30 June 2011 except where otherwise stated herein. Corporation profile
Lion Corporation Berhad (LCB) was incorporated in Malaysia on 27 September 1972 under the Companies Act, 1965 as a private limited liability company under the name of Lion (Teck Chiang) Sdn Bhd. It subsequently changed its name to Lion Corporation Berhad on 18 May 1981. It was converted to a public company and adopted its current name on 30 May 1981.LCB is an investment holding company whose subsidiaries are involved in the manufacturing and marketing of steel products such as hot rolled coils, cold rolled coils, bands, plates and sheets; manufacturing, distribution and trading of office equipment and steel related products; and share registration and secretarial services.Its main business which is the manufacturing of flat steel products is undertaken by Megasteel Sdn Bhd, located in Banting, Selangor. Megasteel which commenced operations in 1999 is the only integrated flat steel mill in Malaysia to produce hot rolled and cold rolled coils.LCB’s steel furniture operations spearheaded by Lion Steelworks Sdn Bhd is involved in the manufacturing of steel furniture such as industrial rackings, mobile filing systems, stand-alone office furniture, and safes.LCB is also involved in property development and is developing a self-contained integrated township known as Mahkota Cheras Project located off 9th Mile Jalan Cheras in Kuala Lumpur.
| Corporate Social Responsibility
We r e c o g n i s e t h e imp o r t a n c e o f C o r p o ra t e S o c i a l Responsibility (“CSR”) as an integral part of business and incorporating a CSR framework into our business plan to enhance stakeholder confidence, accountability and transparency. CSR is an important component of good business practice aimed at improving society and the environment.
The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The registered office and principal place of business of the Company are both located at Level 14, Office Tower, No. 1 Jalan Nagasari (Off Jalan Raja Chulan), 50200 Kuala Lumpur.Lion Diversified Holdings Berhad (“LDHB”), a company incorporated and domiciled in Malaysia and listed on the Main Market of Bursa Securities, holds 53% of the ordinary shares in LCB. However, LDHB does not have a controlling interest in the Company due to the potentially dilutive effect of voting rights arising from financial instruments issued by the Company to other parties. Consequently, LDHB is not regarded as the ultimate holding company of the Company pursuant to FRS 127: Consolidated and Separate Financial Statements.The Company is an investment holding company....
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