MNRB

Type	:	Announcement
Subject	:	MNRB HOLDINGS BERHAD Variance between Unaudited Interim Financial Report and Audited Financial Statements for the Financial Year Ended 31 March 2009.
Contents	:	Pursuant to paragraph 9.19(34) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of MNRB Holdings Berhad (“MNRB”) wishes to announce that the Company had recorded a positive variance of 15.9% in its consolidated net profit between the unaudited results announced to Bursa Securities on 27 May 2009 and its Audited Financial Statements for the financial year ended 31 March 2009 released to Bursa Securities on 30 July 2009. The net profit reported in the unaudited Interim Financial Report as at 31 March 2009 was RM22.7 million whereas the Audited Financial Statements reported a net profit of RM26.3 million.
Announcement Details : The reconciliation for the positive variance of 15.9% or RM3.6 million is as per Table A below:- TABLE A RECONCILIATION OF VARIANCE OF NET PROFIT BETWEEN UNAUDITED RESULTS AND THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2009 Audited Financial Statements Unaudited Interim Financial Report Variance on Audited results from Unaudited RM’000 RM’000 RM’000 (%) Note Profit before zakat and tax 40,457 35,396 5,061 14.3% (i) Zakat (120) (119) (1) 0.8% (ii) Tax expense (14,049) (12,590) (1,459) 11.6% (ii) Net profit 26,288 22,687 3,601 15.9% Note: (i) The increase in profit before zakat and tax was mainly due to adjustment for overprovision in management expenses by the Company and its subsidiaries (ii) The increase in zakat and tax expense was primarily as a result of the above adjustment (The above explanatory note was accidentally omitted in our earlier announcement.) This announcement is dated 30 July 2009.