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Chairman’s Statement
InTrodUCTIon
I have the pleasure of presenting the Board’s Annual Report for the inancial year ending 31 December
2016.
FInanCIaL rEVIEW
This year 2016, the Board formally adopts the new Malaysian Private Entities Reporting Standards
(MPERS) and inancial year 2015 report had been restated accordance to MPERS.
The Board’s water sales had increased by 5.62%, from the previous year of RM27.74 million to
RM29.29 million, and the other operating revenue had decrease to RM6.75 million against the previous
year of RM8.11 million. The reduction is due to a inal tranche of grant of RM1.66 million which
received from the State Government in 2015 as management fee for implementing Tanjung Manis
Water Supply Phase I.
The total operating expenditure including the depreciation expenses for the year had increased by 1.27%
of RM0.52 million from RM40.97 million in 2015 to RM41.49 million in 2016. The depreciation
expenses had increased to RM14.81 million from the previous year of RM14.80 million, against an
increase in the ixed assets by RM0.01 million, mainly for works on new services, renewal programme,
headwork improvement and acquisition of IT, and NRW related equipments, among others. There was
a net increase on the non-depreciation expenses to RM26.68 million from RM26.17 million in 2015, or
by 1.95%. The cost of Production and Distribution had increased by 2.90% and 0.30%, respectively.
The net loss for the year was RM5.40 million.
The Board had been highly dependent on soft loan from the government for its development projects,
and at the end of the year, serviceable term loans have accumulated to RM152.56 million.
2 Sibu Water board
InTrodUCTIon
I have the pleasure of presenting the Board’s Annual Report for the inancial year ending 31 December
2016.
FInanCIaL rEVIEW
This year 2016, the Board formally adopts the new Malaysian Private Entities Reporting Standards
(MPERS) and inancial year 2015 report had been restated accordance to MPERS.
The Board’s water sales had increased by 5.62%, from the previous year of RM27.74 million to
RM29.29 million, and the other operating revenue had decrease to RM6.75 million against the previous
year of RM8.11 million. The reduction is due to a inal tranche of grant of RM1.66 million which
received from the State Government in 2015 as management fee for implementing Tanjung Manis
Water Supply Phase I.
The total operating expenditure including the depreciation expenses for the year had increased by 1.27%
of RM0.52 million from RM40.97 million in 2015 to RM41.49 million in 2016. The depreciation
expenses had increased to RM14.81 million from the previous year of RM14.80 million, against an
increase in the ixed assets by RM0.01 million, mainly for works on new services, renewal programme,
headwork improvement and acquisition of IT, and NRW related equipments, among others. There was
a net increase on the non-depreciation expenses to RM26.68 million from RM26.17 million in 2015, or
by 1.95%. The cost of Production and Distribution had increased by 2.90% and 0.30%, respectively.
The net loss for the year was RM5.40 million.
The Board had been highly dependent on soft loan from the government for its development projects,
and at the end of the year, serviceable term loans have accumulated to RM152.56 million.
2 Sibu Water board
