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Suruhanjaya Pengangkutan Awam Darat

Level 19, 1 Sentral, Jalan Travers,

Kuala Lumpur Sentral,

50470, Kuala Lumpur, Malaysia.

Tel 03 - 2268 5782

Fax 03 - 2272 3744

www.spad.gov.my

Annual Report | 2010

Contents 1 Vision & Mission

2 Message from Prime Minister

4 Commission Profile

6 Profile of the Members of the Commission

10 Corporate Directory

12 SPAD Management

14 Message from the Chairman

18 Review of Operation by the Chief Executive Officer

27 Highlights

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Vision

Mission

“To lead the transformation of public transport to become the rakyat’s mode of choice“

“Ensuring a safe, reliable, responsive, accessible, planned, integrated, affordable, and sustainable land and public transport system to enhance economic growth and quality of life”

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Message from

Prime Minister

DATO’ SRI MOHD NAJIB BIN TUN HAJI ABDUL RAZAKPRIME MINISTER

Annual Report 20102 Suruhanjaya Pengangkutan Awam Darat

The transformation of the public transport system is vital to ensure that it drives forward the ambition of Vision 2020 by supporting sustainable economic growth through efficient transportation and providing affordable, safe and reliable public transport to the “rakyat”. The initiative to uplift the public transformation system for the “rakyat” is also part of the key focus in the Economic Transformation Programme (“ETP”) that will see Malaysia’s economy undergo significant changes to resemble other developed nations. Transportation especially public transport is a key component of economic growth and high quality standards of living. It needs to support the growing population and diverse expectations of urban activity. In other words, a comprehensive and well-performing transport system is an important enabler for sustained economic prosperity.

The establishment of SPAD is hoped to be the catalyst towards land public transport system reform in Malaysia. I am confident that SPAD can guide our journey towards sustainable and efficient land public transport via its integrated Masterplan to shape the land public transport landscape of our cities for the future.

I call on all Malaysians to embrace and support the Government’s intention to make the land public transport system safe, reliable and accessible, placing Malaysia at the forefront as a nation with the highest quality of life.

Thank You

DATO’ SRI MOHD NAJIB TUN HAJI ABDUL RAZAKPRIME MINISTER of MalaySIa

I am happy to share the 1st Annual Report of Suruhanjaya Pengangkutan Awam Darat (“SPAD”). The aspiration for our country is for the “rakyat” to prosper. In order to achieve this, the Government Transformation Programme (“GTP”) has initiated a pillar to the concept of 1 Malaysia with public transport being one of the 6 National Key Result Areas (“NKRA”).

Suruhanjaya Pengangkutan Awam DaratAnnual Report 2010

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Commission

Profile The powers for SPAD to carry out these functions are derived from the Land Public Transport Act 2010 (PAD Act) which came into force on 31 January 2011.

Under the planning function, SPAD will be drawing up masterplans for the national and regional level which will ensure the holistic development of public transport throughout the country. SPAD will work closely with other planning authorities such as the Department of Town and Country Planning and local councils to ensure that the development of public transport is in line with land-use development.

SPAD also has enforcement powers and will have enforcement officers on the ground to check whether operators conform to licensing terms and conditions.

ABOUT SPADSuruhanjaya Pengangkutan Awam Darat or SPAD, a Government Agency that plans, regulates and enforces all matters relating to land public transport and has jurisdiction over Peninsula Malaysia was established on 3 June 2010. The establishment of SPAD is in line with the National Key Result Areas (“NKRA”) to improve the urban public transport system in Malaysia. SPAD was set up with the goal of ensuring that the people have access to reliable, efficient, integrated and safe public transport.

SPAD will achieve this through planning and regulation as well as strict enforcement of laws and regulations related to trains, buses, taxis and freight transport for both road and rail.

In a Nut ShellScope of Power

Planning – Masterplan to ensure comprehensive, integrated and sustainable public transport infrastructure development.

Regulatory – Monitoring and regulating standard performance of operators through licensing.

Enforcement – Enhanced powers, encompassing powers to audit, investigate, suspend/revoke licences, seize vehicles and penalise operators.


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Profile of the Members of the

Commission


TAN SRI DATO’ SERI SYED HAMID SYED JAAFAR ALBARCHaIRMaN

MOHD NUR ISMAL MOHAMED KAMALCHIEf EXECUTIVE offICER

Mohd Nur Ismal Mohamed Kamal was appointed Chief Executive Officer of the Suruhanjaya Pengangkutan Awam Darat on June 3, 2010. Mohd Nur Ismal started his career as a Senior Financial Analyst with CNA Financial Corp in Chicago in the United States. After receiving an MBA with Distinction from the Kellogg Graduate School of Management, he joined AT Kearney Inc, a top-tier global management consultancy headquartered in Chicago, as an Associate. After living in the United States for 14 years, he moved back to Kuala Lumpur with AT Kearney serving clients in Singapore, Thailand, Hong Kong, and Australia. In 2001, he joined Accenture, a global technology and management consultancy, as Manager of Strategy and Business Architecture group.

Tan Sri Dato’ Seri Syed Hamid bin Syed Jaafar Albar was appointed Chairman of the Suruhanjaya Pengangkutan Awam Darat on 3 June 2010.

Tan Sri Dato’ Seri Syed Hamid began his career in the Judicial and Legal Service as a magistrate in 1970 and was appointed President of the Sessions Court in 1971. He then pursued a career in the financial and banking sector locally and internationally

from 1972 to 1986. In the year 1986 to 1990, he became a partner in the law firm of Albar, Zulkifly and Yap.

In 1990, he contested and won the Kota Tinggi Parliamentary seat. Tan Sri Syed Hamid was in the Cabinet from 1990 to 2009 and held various ministerial positions including Minister in the Prime Minister‘s Department, Minister of Law, Minister of Defence, Minister of Foreign Affairs and Minister of Home Affairs.

Between 2003 and 2006, Mohd Nur Ismal was a Senior General Manager of DRB-HICOM Berhad and served as a member of the board of directors of DRB-HICOM Information Technologies Sdn Bhd.

Between 2007 and 2008, Mohd Nur Ismal was a Deputy Director at the Ministry of Higher Education. At the ministry, he assisted in the preparation of the ministry’s strategic plan and led various teams to develop the critically acclaimed National Higher Education Action Plan.

Mohd Nur Ismal was then engaged as a Special Adviser to the Ministry of Transport in August 2008. There, Mohd Nur Ismal successfully led the Urban Public Transport Lab in developing 11 high impact initiatives as a component of the Government Transformation Program.


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DATO’ DR. MAHANI ZAINAL ABIDIN

Dato’ Dr. Mahani Zainal Abidin is currently Chief Executive of the Institute of Strategic and International Studies (ISIS). Prior to holding the Chief Executive post, she was Director General of ISIS between 2007 and 2009. Before that she was Deputy Director-General of the Department of Higher Education in the Ministry of Higher Education Malaysia.

She was also the Head of the Special Consultancy Team on Globalisation of the National Economic Action Council after being a member of the Working Group for the National Economic Action Council.

Other positions she has held include the Deputy Chairman of the National Accreditation Board and a member of the Board of the Employees Provident Fund (EPF).

In terms of academic background, Dato’ Dr. Mahani holds a PhD (Development Economics) from the University of London. Her research interests are industrialisation and economic transformation, international trade and regional integration.

DATUK KHALID AHMAD

Datuk Khalid Ahmad was a council member of the Malaysian Institute of Accountants and has been the President of ACCA’s Malaysia Advisory Committee since 2002. He is also a member of the Association of Chartered Certified Accountants Global Council.

Datuk Khalid was previously Executive Chairman of Malaysian Resources Corporation Berhad. He has also served

as a member of the Malaysian National Unity Advisory Board and Malaysian Financial Reporting Foundation.

He started his career at Turquand Young, Azman Wong Salleh & Co, a public accounting firm, before joining The New Straits Times Press (M) Berhad and subsequently Syarikat Televisyen Malaysia Bhd (TV3) where he was Managing Director.

DATO’ SIOW KIM LUN

Dato’ Siow Kim Lun is currently board member of Kumpulan Wang Persaraan, UMW Holdings Berhad, W Z Steel Berhad (formerly known Weng Zheng Resources Berhad), XingQuan International Sports Holdings Limited, Citibank Berhad, Eita Resources Berhad and MainStreet Advisers Sdn Bhd.

From 1993 to 2006, Dato’ Siow was with the Securities Commission (SC), where he served as the Director of its Issues and Investment Division and the Director of its Market Supervision Division. He has

also served as a member of the Listing Committee of Bursa Malaysia Securities Berhad from May 2007 to May 2009. Prior to joining the SC, Dato’ Siow worked in the investment banking and financial services industry in Malaysia for over 12 years.

Dato’ Siow holds an MBA, Catholic University of Leuven, Belgium and a Bachelor of Economics (Hons) from the National University of Malaysia. He also attended the Advanced Management Program at Harvard Business School.


DATO’ DR. MOHD IRWAN SERIGAR ABDULLAH

Dato’ Dr. Mohd Irwan Serigar Abdullah is currently the Deputy Secretary-General of the Treasury of the Ministry of Finance. He has extensive experience working in the Ministry of Finance and the Economic Planning Unit of the Prime Minister’s Department. He is from Kota Bharu, Kelantan and joined the Administrative and Diplomatic Service in 1974. He is also a Member in the Board of Directors for other agencies and statutory bodies, including the Employees Provident Fund (EPF), Retirement Fund Incorporated (KWAP), Securities Commission (SC), Suruhanjaya Koperasi Malaysia (SKM), Multimedia Development Corporation (MDC), International Islamic University (IIUM), Kumpulan Wang Amanah Negara (KWAN),

Tabung Haji (TH), Malaysian Foundation for Innovation, GovCo Holdings Limited and Capital Market Development Fund (CMDF). He is also the Chairman of the Working Group on Strengthening and Monitoring Abandoned Housing Projects.

Dato’ Dr. Mohd Irwan Serigar has a Doctorate (PhD) in Economics from the International Islamic University, Master of Science in Energy, Management and Policy from University of Pennsylvania and a Bachelor (Honours) in Population Studies from University of Malaya. He also attended the Advanced Management Program course at Harvard Business School.

DATUK HIMMAT SINGH RALLA SINGH

Datuk Himmat Singh Ralla Singh is currently Deputy Director-General II of the Economic Planning Unit in the Prime Minister’s Department. He is also a member of the Board of the Railway Assets Corporation.


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PROF. DR. AHMAD FARHAN SADULLAH

Prof. Dr. Ahmad Farhan Mohd Sadullah is presently a Professor in Transport Studies at the School of Civil Engineering, Universiti Sains Malaysia. He is widely regarded as a leading expert in transport matters in the country. He was Director-General of the Malaysian Institute of Road Safety Research (MIROS) between 2008 and 2011, and was critical behind many road safety strategies of the country. Before MIROS, he was Dean of the School of Civil Engineering of Universiti Sains Malaysia (USM). Earlier in his career at USM, he was the Programme Chairman of Geotechnical, Highway and Transportation Engineering (USM), Coordinator of the Engineering Innovation and Technology Development Unit (EITD), Research Dean for the Engineering and Technology Platform and the pioneering Innovation Director of USM.

He has conducted numerous research in various areas of transportation such as on Intelligent Transport System, public transport, sustainable transport, road safety, travel behavior and traffic engineering. He has also published technical reports, books and journal manuscripts relating to

transport. In addition to teaching, Farhan also supervises postgraduates at Masters and Doctorate levels.

Academically, Farhan has a PhD in Transport Studies from the University of London, United Kingdom. He has a Masters of Science in Transport from the same university and a Bachelor in Civil Engineering from the Catholic University of America, Washington, United States. He also holds a Diploma of Imperial College (DIC) from the Imperial College of Science, Technology and Medicine.

Professionally, he is a council member of the Road Engineering Association of Malaysia (REAM), member of the Institution of Transportation Engineers (ITE), Institution of Engineers Malaysia (IEM), Road Engineering Association of Asia and Australasia (REAAA), Transportation Science Society of Malaysia (TSSM), and ITS Malaysia. He is presently an International Scientific Committee (ISC) member of the East Asia Society of Transportation Science (EASTS) and is the Chair of the World Road Association (PIARC) Technical Committee C.2 on Road Safety Operations.

DATUK WAN AHMAD SHIHAB ISMAIL WAN ISMAIL

Datuk Wan Ahmad Shihab Ismail Wan Ismail is currently Special Officer to the Prime Minister of Malaysia. He is also a Director of the Multimedia Development Corporation Sdn Bhd (MDEC).

Corporate

DirectorySuruhanjaya Pengangkutan Awam Darat Headquarters,

Level 19, 1 Sentral, Jalan Travers,Kuala Lumpur Sentral, 50470, Kuala Lumpur, Malaysia.

Tel No: 03-2268 5782Fax No: 03-2272 3744

Suruhanjaya Pengangkutan Awam DaratPutrajaya,

Level 6, Blok Podium,No. 18, Persiaran Perdana,Presint 2, Pusat Pentadbiran Kerajaan Persekutuan,62652 Putrajaya, Malaysia.

Tel No: 03-8880 5500Fax No: 03-8880 5621

Suruhanjaya Pengangkutan Awam DaratCentral Region,

Level 3, Blok Podium,No. 18, Persiaran Perdana,Presint 2, Pusat Pentadbiran Kerajaan Persekutuan,62652 Putrajaya, Malaysia.

Tel No: 03-8880 5500Fax No: 03-8880 5621

Suruhanjaya Pengangkutan Awam DaratNorthern Region,

Lot 173 dan 174, Taman Ria Jaya,Jalan Kelab Cinta Sayang,08000 Sungai Petani,Kedah Darul Aman, Malaysia.

Tel No: 04-4485 130Fax No: 04-4485 110

Suruhanjaya Pengangkutan Awam DaratEastern Region,

Wisma LPKP,Lot 2182, Jalan Bukit Kecil,21100 Kuala Terengganu, Terengganu Darul Iman, Malaysia.

Tel No: 09-624 1111 / 09-626 1616Fax No: 09-622 8996

Suruhanjaya Pengangkutan Awam DaratSouthern Region,

Lot 391,KM 7.2, Jalan Tangkak,Parit Bunga,84000 Muar,Johor Darul Takzim, Malaysia.Tel No: 06-955 6000Fax No: 06-955 6008

Suruhanjaya Pengangkutan Awam DaratRailways,

Level 13, Menara Dayabumi,Jalan Sultan Hishamuddin 50050 Kuala Lumpur

Tel No: 03-22781222 Fax No: 03-22721900



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Management of

SPAD1 MOHD NUR ISMAL MOHAMED KAMAL Chief Executive Officer

2 AZMI ABDUL AZIZ Chief Development Officer

3 AZHAR AHMAD Chief Operating Officer

4 FARIZUL HAZLI BAHAROM Head, Legal and Secretarial Division and SPAD’s Secretary

5 FAUZI CHE RUS Head, Organisational Support Division

6 MAJOR GENERAL (RTD) DATO’ PADUKA CHE HASNI CHE AHMAD Head, Enforcement and Training Division

7 TONNY YEAP Head, Special Project and Technology Division

8 MOHD FUAD AHMAD Head, State Operations and Terminal Licensing Division

9 YUSLIZAR DAUD Head, Mass Rapid Transit (MRT) Division

10 ZAMRI MAHMUD Head, Road Public Transport Division

11 ANNAFI ZULKIFLI Head, Transformation Management Office

12 ADELY ARIFFIN Head, Knowledge Management


1

MOHD NUR ISMALMOHAMED KAMAL

5

FAUZI CHE RUS

9

YUSLIZAR DAUD


13

4

FARIZUL HAZLI BAHAROM

7

TONNY YEAP

10

ZAMRI MAHMUD

2

AZMI ABDUL AZIZ

8

MOHD FUAD AHMAD

11

ANNAFI ZULKIFLI

3

AZHAR AHMAD

6

MAJOR GENERAL (RTD)DATO’ PADUKA CHE HASNI

CHE AHMAD

12

ADELY ARIFFIN

Annual Report 201014 Suruhanjaya Pengangkutan Awam Darat14

Message From The

ChairmanTAN SRI DATO’SERI SYED HAMIDSYED JAAFAR ALBAR

Dear Stakeholders,

3 June 2010 marked the birth of the Suruhanjaya Pengangkutan Awam Darat (“SPAD”, “the Commission”) to regulate and, more crucially, reform land public transport in Malaysia.

With the setting up of SPAD, the powers to draw up policies as well as plan, regulate and enforce laws, rules and regulations concerning land public transport came under one roof. This enables the Commission to become the sole government agency to champion public transport.

The establishment of SPAD is also in line with the National Key Result Areas (“NKRA”) initiative to specifically spruce up the country’s urban public transportation for the benefit of the rakyat.

On behalf of my fellow Members of the Commission, it gives me great pleasure to present the Annual Report of SPAD for its inaugural period from 3 June 2010 to 31 December 2010.

OVERVIEWA comprehensive and well-executed transport system is a key catalyst to sustained economic prosperity of any country. To create such a sustainable and reliable system, we have to transform our public transport network and services to make it more attractive and efficient to all commuters. We must overcome issues of congestion, delays, unreliable service, limited connectivity, accessibility and many others that directly affect people and businesses.

As a body that recommends policies and acts as a planner and regulator, the Commission is responsible for ensuring the creation of a safe, reliable, responsive,

accessible, planned, integrated, affordable and sustainable land public transport system to enhance economic growth and quality of life.

SPAD has begun transforming various rail, bus, taxi and freight services. The Commission is focusing on bolstering urban public transport in the Klang Valley, before expanding to other cities and major areas in Peninsula Malaysia. To make our mission and journey more interesting, I am proud to say that we are up to the challenge as spelt out in the NKRA initiative to reverse the declining trend of modal share of public transport in the Klang Valley by raising the figure to 25% by 2012, from 17% currently, and to 50% by 2025.

As Chairman of the Commission, I am committed to delivering this and hope that all Malaysians will support us in this endeavour. The Klang Valley needs to increase its urban rail coverage. The rail network - which will include the mass rapid transit (MRT), light rail transit (LRT), KTM Komuter and monorail - will form the backbone of the public transport network in the Klang Valley.

Currently, the Klang Valley has low rail-based public transport coverage compared with most public-transport oriented cities. It has less than 20km of rail per million population, compared with public transport oriented cities such as Singapore, Hong Kong and London, which have an average of 40km of rail per million population.


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FINANCIAL HIGHLIGHTSSPAD was provided a launching grant of RM51 million by the Government for its initial operation start up. In executing our strategies to eventually provide higher levels of public transport service, we were cautious and prudent especially in our spending. During the year under review, we utilised RM6,490,851 for operational expenses. This resulted in the Commission’s cash and cash equivalents being reduced to RM44,784,378 as at 31 December 2010.

OPERATIONS REVIEWWe constantly monitor our performance against the targets set in the NKRA and I am happy to report that we are gathering momentum and making substantial progress, despite being in operation for a short period of time.

During the year under review, we continually engage our stakeholders from policy making bodies and industry players to end users to solicit and assess feedback to our strategies and plans such as organising round table discussions on railway schemes and other plans at various locations.

We also held meetings and participated in various initiatives geared towards offering better public transport experience for the masses. The list included separate meetings with Airport Limo, Pan Malaysia Bus Operators Association (“PMBOA”) and Metrobus on its bus services, as well as participation of events such as the launch of Visa Paywave Ticketless facility on KLIA Ekspres at KL Sentral and Persatuan Pengusaha Teksi Bumiputra Malaysia’s (PERBUMI) Annual General Meeting.

We acknowledged that investing in additional land public transport services is pertinent to improving access to and quality of transport facilities and resources. Towards this end, we were involved in the planning of the upgrading of existing railway lines through electrification.

As the central planner of the country’s land public transport, we continue to help conceptualise, implement and extend the current rail network to incorporate the many new lines that are in progress. Two such examples are the Kelana Jaya and Ampang LRT line extension projects. As the capacity and ridership of these LRT lines together with the KTM Komuter increase, it will be crucial to ensure future railway schemes continue to meet growing ridership and load factors.


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On providing priority lanes and dedicated bus right-of-ways on high demand routes, the Bus Rapid Transit (“BRT”) Committee which includes industry players was established to spearhead the ongoing improvement to our traffic management. This initiative should provide further impetus for other joint efforts with industry players. One of the many plans in the future also includes ways to enhance the skills and performance of the local bus drivers.

MOVING FORWARD We will continue our efforts to restructure the land public transport industry and assist in managing and curbing the rising costs of operating the business. Consultation and engagement sessions with industry stakeholders such as bus and taxi operators will be continued, and I am confident that we will be able to resolve the issues surrounding the industry.

Our public delivery service will be further enhanced, focusing on building a comprehensive database and employing the relevant technology.

To enhance the effectiveness of our enforcement duties, joint enforcement efforts with relevant agencies will continue to be sought and promoted.

We also intend to invest in significant human capital resources as part of our efforts to attract, develop and retain skilled talents in order to realise our plans and strategies.

The detailed legislation that gives effect to SPAD’s existence will certainly enable it to achieve its functions. The impending unveiling of the National Land Public Transport Policy Framework in the last quarter of 2011 will further allow SPAD to address most of the concerns raised by the stakeholders across the industry.

ACKNOWLEDGEMENTOn behalf of the Members of the Commission, I would like to take this opportunity to thank the Management and staff of SPAD for their dedication and commitment to the Commission and the overall public transport industry. It is their experience, sheer enthusiasm and spirit of togetherness that have enabled us to operate in a dynamic and challenging business environment.

I would also like to extend our gratitude for the unwavering guidance and assistance provided to us by the Government and other relevant authorities. My heartfelt appreciation also goes to my fellow Members of the Commission, whose guidance and counsel during the year has been invaluable.

Last but not least, with the support and commitment of everyone involved, I have no doubt that SPAD will rise to the challenges ahead and continue to realise the potential of land public transport in Malaysia.

Thank you.

Sincerely,

TAN SRI DATO’ SERISYED HAMID SYED JAAFAR ALBAR

CHaIRMaN

SURUHaNjaya PENgaNgkUTaN

awaM DaRaT (SPaD)

It is my distinct privilege and pleasure to present the review of the operations of the Suruhanjaya Pengangkutan Awam Darat (“SPAD”) for its inaugural period from 3 June 2010 to 31 December 2010. I am pleased to report that SPAD has navigated its initial 6 months commendably as it gears up to transform the country’s public transport.

Review ofOperation by the

ChiefExecutive Officer

MOHD NUR ISMAL MOHAMED KAMAL

CHIEf EXECUTIVE offICER


OVERVIEWSPAD was formed specifically to facilitate the much needed reforms in land public transport which includes the rail, bus and taxi services with the objective of improving reliability and journey time, enhance comfort and convenience; and improve accessibility and connectivity of the Klang Valley public transportation system. This will be achieved through SPAD’s core functions namely drawing up of policies, planning, regulation and enforcement of laws, rules and regulations concerning land public transport.

POWERS AND FUNCTIONSThe coming into force of the Suruhanjaya Pengangkutan Awam Darat Act 2010 (Act 714), which provides for the setting up of the organisation, its powers and functions, on 3 June 2010 marked the birth of SPAD. The Land Public Transport Act 2010 (Act 715), which is the enabling legislation for SPAD, together with the Commercial Vehicle Licensing Board (Amendment) Act 2010 (Act A1376) and the Railway (Amendment) Act 2010 (Act A1377) will not come into force until 31 Jan 2011. With the coming into force of these Acts, SPAD will become fully operation while the Commercial Vehicles Licensing Board (“CVLB”) of Peninsula Malaysia and the Department of Railways (“DOR”) will cease to exist as SPAD will take over their functions.

2010 ACHIEVEMENTSThe key focus of SPAD for the year 2010 was on capacity building. Despite not being fully operational during that period,

SPAD achieved encouraging results in its activities and plans; and in supporting the Government’s efforts to bolster public transport.

During the year under review, SPAD conducted various dialogues and discussions with industry stakeholders such as express and excursion bus operators as well as taxi operators, and formed strategic alliances with the likes of smart ticketing operators to introduce an integrated, cashless ticketing system. SPAD was also involved in the conceptualisation and approval of the mass rapid transit project, now branded as MY Rapid Transit, and is now the supervising agency for the implementation of the project.

ACTIVITIESMASS RAPID TRANSIT The Mass Rapid Transit (MRT), the mega infrastructure project under the Greater Kuala Lumpur/Klang Valley National Key Economic Area (“Greater KL/KV NKEA”) of the Government’s Economic Transformation Plan received the official approval for implementation on 17 December 2010. With the announcement made by the Government, SPAD was given the mandate to be the supervising agency for the project, while Syarikat Prasarana Negara Bhd was made the project owner.

Prior to the approval of the MRT project, SPAD together with a consultant appointed by the Government conducted a technical study on a private sector-led proposal for the construction of an MRT network. Upon completion of the three-month study

in October 2010, SPAD recommended the implementation of the Sungai Buloh-Kajang alignment as the first line of the Greater KL/KV (“Greater KL/KV”) MRT network and for the project to be funded by the Government.

The MRT network will form the backbone of the public transport system in the Greater KL/KV area, Malaysia’s most urbanised region.

The MRT is the main component of the Greater KL/KV NKEA and is the largest infrastructure project in the country. It will significantly improve the coverage of rail-based public transport in the Greater KL/KV area and enable a 50% public transport modal share to be achieved by 2025.

The first 51-km line will run from Sungai Buloh in the northwest of Kuala Lumpur and down to Kajang in the southeast of the Federal capital and will have 31 stations. The line is expected to serve a catchment of about 1.2 million people living in densely populated areas such as Sungai Buloh, Kota Damansara, Bandar Utama, Damansara Utama, Pusat Bandar Damansara, Taman Maluri, Cheras, Taman Bukit Ria, Taman Bukit Mewah, Taman Suntex, Bandar Hussein Onn and Kajang as well as the city centre of Kuala Lumpur. The MRT project when completed is expected to serve ridership of 442,000 passengers per day.


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representatives from the Malaysian Institute of Road Safety (“MIROS”), Road Transport Department, Road Safety Department, Royal Malaysian Police, Malaysian Highway Authority, Ministry of Tourism, Puspakom and the Human Resource Ministry.

Presentations were made by MIROS on various aspects of road safety which includes the implementation of the Safety, Health and Environment Code of Practice (“SHE CoP”). The Bumiputra Bus Operators Association (“PEMBAWA”), presented on the problems faced by express bus operators, and finally express bus operator Sani Express Sdn Bhd shared with those present on how it ensured safety of its services after a tragic accident involving one of the company’s buses.

The outcomes of the round table session included the move towards stronger implementation of the SHE CoP in regulating passenger public transport sector, and the need to resolve the critical issue of driver shortage in the industry.

OTHER ACTIVITIES • MeetingwithAirportLimoatSepangon

29 July 2010.

• Meeting with Pan Malaysia BusOperators Association (PMBOA) on 6 August 2010.

• Launch of Visa Paywave Ticketlessfacility on KLIA Ekspres at KL Sentral on 10 August 2010.

• Meeting with Metrobus director aboutits bus services on 14 October 2010.

EXPRESS AND EXCURSION BUS SAFETY ROUND TABLESPAD’s role as regulator of public transport makes it responsible for ensuring the safety levels of public transport services. In line with this, it organised a round table session with express and excursion bus operators on 6 December 2010 after a spate of serious long-distance bus accidents. The session was aimed at identifying the root causes that caused the safety of express and excursion buses to be compromised as well as the solutions to overcome the problem.

The session was well attended with representatives from major bus and excursion bus associations as well as over 20 express bus companies. The round table discussion was also attended by


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NATIONAL LAND PUBLIC TRANSPORT FRAMEWORKThe National Land Public Transport Framework (“NLPTF”) encompasses all aspects of land public transport guiding principles, policy, standards, planning methodology and improvement initiatives. Primarily NLPTF consists of the National Land Public Transport Policy, National Land Public Transport Master Plan for all regions and sectors.

SPAD embarked on the development of NLPTF starting with the National Land Public Transport Policy and Greater KL/KV Land Public Transport Master Plan (“GKL/KV LPTMP”). Greater KL/KV LPTMP’s emphasis is to raise the modal share of public transport usage in the Greater KL/KV area through a sustainable and effective land public transport via its subsidiary plans, namely the Urban Rail Development Plan (“URDP”), Bus Transformation Plan

(“BTP”) and Taxi Transformation Plan (“TTP”). These are complemented with the Interchange and Integration Plan (“IIP”), Travel Demand Management Plan (“TDMP”) and Land Use Plan (“LUP”).

The master plans will seek to understand and assess the underlying issues plaguing the public transport by taking a pragmatic approach.

• Launch of Home to Airport PickupService at KL Sentral on 20 October 2010.

• Launch of Persatuan Pengusaha TeksiBumiputra Malaysia’s (“PERBUMI”) Annual General Meeting and the launch of its vehicle tracking system on 22 October 2010.

KEY FOCUS AREAS In the Government Transformation Programme (“GTP”), Economic Transformation Programme (“ETP”) and the 10th Malaysia Plan, it has been stated that public transport is one of the nation’s priority areas requiring outcome-oriented transformation. In ensuring that the rakyat has access to reliable, efficient, integrated and safe public transport, SPAD is currently working on developing the national land public transport framework (“NLPTF”) covering the rail, bus and the taxi transformation plans. The NLPTF is expected to be unveiled in the last quarter of 2011.


URBAN RAIL DEVELOPMENT PLANThe Urban Rail Development Plan (“URDP”) caters for the development of rail sector within the Greater KL/KV area. It identifies existing rail improvement opportunities and also the development of new corridors (broadly 2.5km wide) through an integrated planning process with other modes and land use. Currently, rail transport in Greater KL/KV comprises of commuter train, LRT, monorail and heavy rail serving interstate express train and freight. Usage of rail services is high and at peak hour, with load factors often reaching 100% and above. Within the URDP, SPAD will address capacity constraint and maximize existing infrastructure asset to improve rail service and coverage.

BUS TRANSFORMATION PLANThe Bus Transformation Plan (“BTP”) focuses on addressing the needs and improvement of stage buses. The role of buses and operating model will evolve with time. For instance, with more passenger rail lines in Greater KL/KV being developed, there is a greater need for more feeder or short distance services. With the advent of bus rapid transit systems and bus express transit services, it is critical to ensure that the bus and rail networks complement each other.

TAXI TRANSFORMATION PLANThe Taxi Transformation Plan (TTP) sets to improve the quality of service for city taxi. Unlike rail and bus, taxi provides flexible door-to-door connectivity. It serves a niche market where demand and expectation for travel experience are much higher.

NATIONAL KEY RESULT AREA FOR URBAN PUBLIC TRANSPORTSPAD is tasked with implementing 5 of 11 initiatives under the GTP’s National Key Results Area for Urban Public Transport (NKRA-UPT). The initiatives are aimed at increasing public transport usage from 17% to 25% in 2012.

The initiatives are:

Improving bus journey times by having Bus Express Transit (BET) services, and the establishment of dedicated bus right of way such as Bus Rapid Transit (BRT) systems and bus lanes.


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Constructing and improving over 1,000 bus stops in the Klang Valley (with the local authorities).

Reorganising bus network in the Klang Valley. This initiative is being implemented as part of the National Land Public Transport Framework described below:

– Introducing integrated smart ticketing.

– Introducing performance standard monitoring for all public transport services.

During the period of review, some of the initiatives have brought in positive results. For example, the introduction of 5 BET routes managed to cut journey time significantly which resulted in an increase in ridership of 192%. By the end of 2010, over 600 bus stops have been constructed or upgraded. Studies are being carried out for the other initiatives.

INTEGRATED SMART TICKETINGIn line with the Government’s National Key Result Area (NKRA) for urban public transport to increase the modal share of public transport in the Greater KL/KV are from 17% to 25% by 2012, initiatives are being carried out to make rail and bus services more attractive.

One of the initiatives is to introduce an Integrated Smart ticketing where one electronic ticket can be used across all mode of public transport. SPAD is mandated to implement this initiative. Currently there are 13 bus and 3 rail operators in the Greater KL/KV area issuing their own tickets, most of them operating on a cash fare basis.

Studies from the NKRA-UPT laboratory showed that 25%-30% of travel time for the average bus commuter is spent queuing or waiting in the bus because of fare payment by the commuter or fellow passengers. Commuters also need to purchase another ticket when they switch from one operator to another. Therefore the implementation of the integrated cashless ticketing system with “1Ticket, 1Seamless Journey” concept is critical to reduce the boarding time and at the same time provide seamless journey to the commuters.

Furthermore, operators report that revenue loss from cash fare transaction is estimated at 20% which amounts to a total of about RM125 million each year. With cashless ticketing system on board, cash handling will be reduced significantly, resulting reduction in this revenue loss.

This initiative is expected to be completed in the last quarter of 2011 for all rail systems in the Greater KL/KV comprising the two LRT lines, monorail, KLIA Ekspres and KLIA Transit as well as RapidKL bus services.


MOVING FORWARD FOR 2011Beyond 2010, SPAD will be carrying out the following initiatives in order to fulfil the requirements under the Land Public Transport Act 2010:

a) Moratorium on new licence applications

Beginning 31 January 2011, all functions of the Commercial Vehicles Licencing Board (“CVLB”) of Peninsula Malaysia and tourism vehicle licensing functions of the Ministry of Tourism will be taken over by SPAD. With this all licensing of commercial vehicles and tourism vehicles in Peninsula Malaysia from that date will be handled by SPAD.

OPERATOR LICENSE FRAMEWORKSPAD plans to unveil the Operator License Framework in 2012. Work on the initiative has already started. The framework will set the foundation for future policies aimed at enabling the vision outlined in SPAD’s transformation plans. The framework will introduce the concept of licensing by operators rather than by vehicle. This will support the objectives of SPAD which is to improve transparency, accountability and service quality across land transport model.

The first phase of this project will see the introduction of a high level framework – detailed policies will be introduced in a few phases as SPAD embarks on additional strategic initiatives.

To facilitate this, SPAD will be implementing a moratorium on the issuance of new licences for commercial vehicles and tourism vehicles between 31 January 2011 and 31 July 2011.

b) Re-registration

Under the Commercial Vehicles Licensing Board (Amendment) Act 2010, SPAD is required to carry out a re-registration of all commercial vehicle licences which were previously issued by the CVLB of Peninsula Malaysia.


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The re-registration exercise is intended to meet the following objectives:

i) Identify and remove dormant / errant operators;

ii) Update the licensing database;

iii) Develop a database of commercial vehicle drivers and tourism vehicle, and

iv) Migrate to the new operator based licensing regime.

With this exercise, SPAD will be able to identify the current status of licensees, allowing the Commission take stock of the current situation, and formulate its strategy towards a sustainable and rakyat-centric industry.

c) License Migration

The Land Public Transport Act 2010 will change the licensing regime for commercial vehicles from the current vehicle-based licences to operator-based licenses. Based on this requirement, SPAD will be implementing a license

migration exercise beginning 1 January 2012. The exercise is expected to run until 31 December 2012. Through operator licenses, SPAD will be able to more effectively regulate the industry and enforce laws, rules and regulations in connection with public transport.

d) Performance Measurement Hub

SPAD will set up a Performance Management Hub as a tool to better regulate public transport services. Data from operators will be transmitted live to the hub. This will enable SPAD to monitor compliance by operators of service standards and also laws, rules and regulations, including those involving safety and security. The Performance Management Hub will also serve as a data management centre that will allow inter-agency exchange of information. The Hub’s initial area of coverage will be the Greater KL/KV area but will in the long term be extended throughout the country. The Hub is expected to be implemented in stages and fully functional for the Greater KL/KV area in 2012.

BEYOND 2012Once SPAD gains its full operational powers, it will be in a position to carry out more initiatives aimed at making land public transport more accessible, integrated and sustainable. Measures such as travel demand management via area congestion pricing and implementation of terminal licensing will complement SPAD’s transformation plan for the land public transport system in the long run.

APPRECIATIONThe above is a glimpse of the activities and initiatives carried out by SPAD to improve public transport. SPAD is on track to achieve the stated goals and objectives. SPAD will continue to monitor, drive and make the necessary improvements to ensure that the public will be able to enjoy a more efficient, integrated, user-friendly and safer public transport in due time.


I would like to take this opportunity to express my appreciation to the management and staff of SPAD who have shown the highest level of commitment to enable the Commission to achieve its goal of giving the public a better public transport system. SPAD started with a staff strength of only 25 and today we have grown to have approximately 500. Thank you for your countless effort and commitment.

My gratitude also goes to all our valued stakeholders for the continued support and confidence in SPAD. This support will enable us to transform public transport in this country and deliver to all Malaysians the best option for them to travel.

Thank you.

Yours sincerely,

MOHD NUR ISMALMOHAMED KAMAL

CHIEf EXECUTIVE offICER

laND PUblIC TRaNSPoRT CoMMISSIoN

(SPaD)


27

Highlights29 July 2010Meeting with Airport Limo at Sepang.

6 August 2010Meeting with Pan Malaysia Bus Operators Association (PMBOA).

10 August 2010Launch of Visa Paywave Ticketless facility on KLIA Ekspres at KL Sentral.

22 September 2010SPAD Hari Raya Open House First Hari Raya Aidilfitri Open House held at the residence of Tan Sri Dato’ Seri Syed Hamid Syed Jaafar Albar, Chairman of SPAD with guests ranging from industry partners of the public and private sector, as well as public transport operators.

14 October 2010Meeting with Metrobus director about its bus services.

20 October 2010Launch of Home to Airport Pickup Service at KL Sentral.

22 October 2010Launch of Persatuan Pengusaha Teksi Bumiputra Malaysia’s (PERBUMI) Annual General Meeting and the launch of its vehicle tracking system.


25 – 27 November 2010Energizer TeambuildingA teambuilding exercise was held in Penang in the effort to integrate and build team spirit among the SPAD staff which then only consisted of 25 people. The exercise was a success as many were better equipped with each other’s roles in the organisation, not to mention friendships made along the way.

2 December 2010Brainstorm Session with

Members of the CommissionIn establishing the right foundation and setting the roadmap for SPAD as a highly efficient and functional organisation, a brainstorming session was conducted for the Members of the Commission. The half-day session was held at the Traders Hotel, chaired by Tan Sri Dato’ Seri Syed Hamid Syed Jaafar Albar, Chairman of SPAD.

6 December 2010Safety Roundtable Session with Bus OperatorsA dialogue session was held between representatives of SPAD, relevant government agencies and bus operators at the One World Hotel. The subject of the session was on safety, in light of the then increasing number of bus accidents on the road.

Financial

Statement

30 Certificate of the Auditor general on the Financial Statements of the Suruhanjaya

Pengangkutan Awam Darat for the year Ended 31 December 2010

31 Statement by the Chairman and a Commission Member

32 Declaration by the Officer Primarily Responsible for the Financial Management of the Suruhanjaya Pengangkutan Awam Darat

33 balance Sheet as at 31 December 2010

34 income Statements for the Financial year Ended 31 December 2010

35 Statement of Changes in Equity for the Financial year Ended 31 December 2010

36 Cash Flow Statement for the Financial year Ended 31 December 2010

37 notes to the Financial Statements

Annual Report 2010Suruhanjaya Pengangkutan Awam Darat30

Annual Report 2010Suruhanjaya Pengangkutan Awam Darat 31

STATEMENT BY THE CHAIRMAN AND A COMMISSION MEMBER

We, Tan Sri Dato’ Seri Syed Hamid B. Syed Jaafar Albar and En. Mohd Nur Ismal B. Mohamed Kamal, being the Chairman and a member of the SURUHANJAYA PENGANGKUTAN AWAM DARAT do, hereby state that, in the opinion of the Commission, the accompanying Financial Statements which includes the Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement, with the notes to the Financial Statements, have been prepared to reflect a true and fair view of the state of affairs of the Suruhanjaya Pengangkutan Awam Darat as at 31 December 2010 and of the results of its operations and changes in financial position for the year ended on that date.

On behalf of the Land Public Transport Commission:

TAN SRI DATO’ SERI SYED HAMID B. SYED JAAFAR ALBARChairman

Date: 28 JUL 2011

EN. MOHD NUR ISMAL B. MOHAMED KAMALChief Executive Officer

Date: 28 JUL 2011


DECLARATION BY THE OFFICER PRIMARILY RESPONSIBLE FOR THE FINANCIAL MANAGEMENT OF THE SuRuHANjAYA PENGANGkuTAN AwAM DARAT

I, Nur Razifah Binti Abdul Wahab, the officer primarily responsible for the financial management and accounting records of the SURUHANJAYA PENGANGKUTAN AWAM DARAT, do solemnly and sincerely declare that the accompanying Financial Statements which includes the Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement with the notes to the Financial Statements to the best of my knowledge and belief, correct, and I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act, 1960.

Subscribed and solemnly )delacred by the abovenamed )in Kuala Lumpur ) 28 JUL 2011 NUR RAZIFAH BINTI ABDUL WAHAB

In the presence of: COMMISSIONER OF OATH


BALANCE SHEET AS AT 31 DECEMBER 2010

Note 2010 RM

PROPERTY, FITTINGS AND EQUIPMENT 3 461,030

CURRENT ASSETS

Other receivables 4 256,910Accrued interest 25,276Cash and cash equivalents 5 44,994,681

Total Current Assets 45,276,867

CURRENT LIABILITIES

Other payables 6 953,519

Total Current Liabilities 953,519

TOTAL NET ASSETS 44,323,348

44,784,378

FINANCED BY:

Launching Grant 7 44,784,378

44,784,378

The accompanying notes form an integral part of these financial statements.


INCOME STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010

Note 2010 RM

INCOME

Launcing Grant 7 51,000,000Interest income 275,229

51,275,229

LESS: EXPENDITURE

Personnel expenses 8 3,337,811Administrative expenses 9 1,713,022Professional fees 10 1,325,023Depreciation 26,809Other expenses 88,186

6,490,851

INCOME SURPLUS BEFORE TAX 44,784,378

Taxation 11 -

NET INCOME SURPLUS AFTER TAXFOR THE FINANCIAL YEAR 44,784,378



STATEMENT OF CHANGES IN EQuITY FOR THE FINANCIAL YEAR ENDED31 DECEMBER 2010

Note 2010 RM

As at 3 June 2010 -Net income surplus for the financial year 7 44,784,378

As at 31 December 2010 44,784,378



CASH FLOw STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010

Note 2010 RM

Cash Flow from Operating Activities

Income surplus before tax 44,784,378 Adjustments for: Interest income (275,229) Depreciation 26,809

Income surplus before changes in working capital 44,535,958

Surplus/(Deficit) in working capital Other receivables (256,910) Accrued interest (25,276) Other payables 953,519

Net cash from operating activities 45,207,291

Cash Flow from Investment Activities

Purchase of property, fittings and equipment (487,839) Interest received 275,229

Net cash used in investment activities (212,610)

Net Addition To Cash and Cash Equivalents 44,994,681

Cash And Cash Equivalents As At Year End

Consist of: Fixed deposits 44,000,000 Bank balances 994,681

44,994,681



NOTES TO THE FINANCIAL STATEMENTS

1. GENERAL INFORMATION

The Commission was established following the enactment of the Akta Suruhanjaya Pengangkutan Awam Darat 2010 (Act 714) on 3 June 2010. The Members Commission were appointed by the Prime Minister. The Commission consists of the Chairman, Chief Executive Officer, not more than five government representatives; and not less than three but not more than five other members with relevant knowledge and experience.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies are adopted by the Commission:

(a) Basis of accounting

The Financial Statements have been prepared according to accounting standards approved by the Malaysia Accounting Standard Board (MASB) for private entities (Private Entity Reporting Standards-PERS).

(b) Income recognition

(i) Interest income

Interest income is recognised in the income statement upon being accrued, taking into account the effective revenue of the said asset.

(ii) Grants provided by the Federal Government

Launching Grant and operation grant are recognised when the approved rights to receive payment is validated and will be obtained for that financial year.

(c) Property, fittings and equipment

All property, fittings and equipment are stated at cost less accumulated depreciation.

Depreciation for property, fittings and equipment is calculated on a straight line basis over their estimated useful lives.

The annual depreciation rate is as follows:

Computer equipment 33.33%

Furniture and fittings 20%

Office equipment 20%

(d) Receivables

Receivables are stated at costs less provision for expected realisable value. Bad debt is written off when identified. Estimation is made for doubtful debts based on the review of the total outstanding amount at the end of the financial year.


NOTES TO THE FINANCIAL STATEMENTS (CONTINuED)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(e) Cash and cash equivalents

Cash and cash equivalents consist of deposits with banks and cash on hand.

(f) Payables

Payables are stated at cost in which it is the fair value of the consideration to be paid in the future for the goods and services acquired.

(g) Employees’ welfare

(i) Short-term benefits

Wages, salaries and bonuses are recognised as an expense in the year in which the associated services are rendered by employees of the Commission. Short term accumulating compensated absenses such as paid annual leave are recognised as an expense when services are rendered by employees that increase their entitlement to future compensated absences and short term non accumulating compensated absences such as sick leave are recognised when the absences occur.

(ii) Fixed contribution plan

As required by law, eligible employers in Malaysia are compulsory to provide a fixed contribution to the Employees’ Provident Fund (EPF). Such contributions are recognised as an expense in the income statement. Obligations on contribution plans are recognised as current expenditure in the income statement.

3. PROPERTY, FITTINGS AND EQUIPMENT

Computer Furniture and Office Total Equipment Fittings Equipment 2010 RM RM RM RM

Cost

At the beginning of the year - - - - Additions 19,716 393,730 74,393 487,839

At the end of the year 19,716 393,730 74,393 487,839

Accumulated depreciation

At the beginning of the year - - - - Charge for the year 3,548 19,687 3,574 26,809


Net Book Value




4. OTHER RECEIVABLES

2010 RM

Deposits 213,342 Advances and pre-payments 43,568

256,910

5. CASH AND CASH EQUIVALENTS

2010 RM

Bank balances and cash in hand 994,681 Deposits with Licensed banks/Islamic banks 44,000,000

44,994,681

6. OTHER PAYABLES

2010 RM

Other payables 872,793 Accrued expenses 80,726

953,519

7. LAUNCHING GRANT

2010 RM

Balance as at 3 June 2010 - Addition: Federal Government’s allocation 51,000,000 Interest income 275,229

51,275,229 Less: Operating expenses 6,490,851

Balance as at 31 December 2010 44,784,378

Launching Grant provided by the Federal Government to pay for the Commission’s financial obligations and working capital amounting to RM51 million.



8. PERSONNEL EXPENSES

2010 RM

Statutory contribution 357,471 Allowance & fees for Members of Commission 405,402 Staff allowance 110,384 Salary/Wages 2,321,978 Staff benefits 113,535 Miscellaneous 29,041

3,337,811

9. ADMINISTRATIVE EXPENSES

2010 RM

Postal and telephone charges 5,349 Entertainment 39,718 Conference cost 42,742 Miscellaneous 4,672 Advertising and publication 370,698 Office renovation 293,708 Office maintenance 10,393 Computer expenses 53,534 Printing & stationery 129,352 Traveling 199,235 Office rental 563,621

1,713,022

10. PROFESIONAL FEES

Professional fees for the financial year are as follows: 2010 RM

Professional fee for consultancy and pre-implementation 1,205,888 Ancillary services 92,000 Miscellaneous 22,750 Audit fee 4,385

1,325,023



11. TAXATION

SPAD is exempted from income tax in accordance with the exemption letter acquired from the Ministry of Finance under Section 127(3A) of the Income Tax Act 1967. All income except for dividends is exempted from income tax for a period of 10 years beginning from the assessment year 2010.

12. SIGNIFICANT EVENTS AFTER BALANCE SHEET DATE

(i) On 31 January 2011, the Land Public Transport Act 2010 was fully enforced and in line with the enforcement, the Suruhanjaya Pengangkutan Awam Darat becomes fully operational and took over the functions of the Commercial Vehicle Licensing Board (CVLB), the Department of Railways (DOR) and the vehicle licensing functions of the Ministry of Tourism as far as Peninsula Malaysia is concerned. With the dissolution of the CVLB (in Peninsula Malaysia), all power, rights, privileges, liabilities, obligations and responsibility of the CVLB and DOR were passed over to SPAD.

(ii) On 30 November 2010, the High Court of Malaya ruled that a compensation claim against a bus operator (plaintiff) amounting to RM11,957,397.00 be allowed. The defendant had filed an appeal to the Appeal Court on 22 December 2010. On 9 March 2011, the Attorney General on behalf of the CVLB, filed a “stay of execution”. The application for the “stay of execution” was granted on 20 June 2011. The plaintiff did not appeal against the “stay of execution”. As of to date, the court has not fixed a date to the appeal.

(iii) On 17 February 2011, the Attorney General, on behalf of the CVLB, made an out of-court settlement and agreed to pay a total of RM18,128.50 to a supplier as compensation against defaulted contractual payment of rental and usage of third party copier machine.

However, the above mentioned events did not involve any changes to the Commission’s Financial Statements

for the year 2010.

13. COMMITMENT

Commitment refers to the agreements signed by SPAD in 2010.

2010 RM

Approved and contracted 5,838,139

14 COMPARABLE FIGURES

There is no comparable figure shown as SPAD was set up during the financial year.

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