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HENGYUAN

Final Dividend

SHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD

EX-date

25/05/2005
Entitlement date27/05/2005
Entitlement time05:15:00 PM
Entitlement subjectFinal Dividend
Entitlement description:A final dividend of Thirty Five Sen (RM0.35) per unit of share of RM1.00 each, less 28% Malaysian Income Tax in respect of the financial year ending 31st December 2004, payable on 10th June 2005 to the shareholders registered in the Register of Depositors at the close of business on 27th May 2005.
Period of interest payment to
Financial Year End31/12/2004
Share transfer book & register of members will be closed from
(both dates inclusive) for the purpose of determining the entitlements
to
Registrar's name ,address, telephone no:Symphony Share Registrars Sdn. Bhd. (378993-D) (Formerly known as Malaysian Share Registration Services Sdn Bhd), Level 26, Menara Multi-Purpose, Capital Square, No. 8, Jalan Munshi Abdullah, 50100 Kuala Lumpur. (Telephone No: 603-27212222) and (Fax No: 603-27212530/603-27212531)
Payment date 10/06/2005
a) Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers27/05/2005 
b) Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit25/05/2005 
c) Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorRM
Entitlement in RM (RM)0.35

Remarks :
SHELL REFINING ANNOUNCES RECORD ANNUAL EARNINGS OF RM 670 MILLION IN 2004 - A 268 % INCREASE OVER 2003 PROFITS
FOURTH CONSECUTIVE RECORD QUARTERLY EARNINGS OF RM 188 MILLION DELIVERED IN Q4 2004

23 February 2005, Kuala Lumpur
Shell Refining Company (Federation Of Malaya) Berhad (Shell Refining) today announced a record net income of RM 188 million for the fourth and final quarter of 2004, ending the year with a fourth consecutive quarter of record profitability. Cumulative net income for 2004 amounted to an annual record of RM 670 million, representing an increase of RM 488 million or 268% above the 2003 net income level of RM 182 million, the previous record.
The Q4 2004 earnings include an after-tax stockholding loss of RM 48 million partially offset by a RM 11 million accounting adjustment relating to the capitalisation of certain costs. This result for Q4 2004 represents a very significant increase in profits when compared to the net profit after tax of RM 59 million recorded in the same quarter of 2003.
Datuk Jon Chadwick, Chairman of Shell Refining, said: "These results represent an impressive performance. We are pleased to deliver these earnings, improving profitability levels continuously throughout the year - for the fourth consecutive quarter, we have delivered record profitability despite a significant stockholding loss during the quarter. This financial performance was mainly due to the combined strengths of our refining margins and continued strong operational performance".
In view of the exceptional fourth quarter financial results, the Board of Directors recommended a final dividend of 35 sen per share, giving a total dividend level for 2004 of 65 sen per share; this includes an interim dividend of 10 sen per share and two special dividends each of 10 sen per share previously paid. Shell Refining's recommended 2004 dividend represents an increase of 160% compared to the total dividend of 25 sen per share paid in respect of 2003. This final dividend for 2004 was declared during the Company's 23rd February 2005 Board meeting and will be subject to approval at the Company's forthcoming Annual General Meeting.
Datuk Chadwick added: "Our shareholders will receive a record annual dividend, reflecting the quality of the full year financial results. The highest annual dividend level we have ever paid before was 37 sen per share. 2004 dividend payment performance is linked to the Company’s significant cash generation throughout the year and it is the Board’s intention to sustain for the foreseeable future an annual dividend level of at least 45 sen per share, i.e. at least at the level of the combined interim and final 2004 dividend payments".

Overall in 2004, the Company benefited from an net stockholding gain of RM 80 million (2003: net stockholding gain of RM 12 million) due to the overall oil price increase in 2004, accounting for 12% of the Company’s total net profit after tax.

The Company's refinery processed 10.55 million barrels of crude oil and feedstock and sold 10.88 million barrels of products during the quarter.
Regarding current year prospects and outlook, Datuk Chadwick said Shell Refining expects that the current strong refining margin situation will continue to hold in the coming quarter. Chadwick added:"The Company will continue to pursue operational excellence, proactive margin improvements and cost reductions. Shell Refining's strong 2004 performance demonstrates that it is on track towards our goal of becoming the most admired refinery in Asia. The Company's directors, management and staff will continue to pursue all measures that enhance shareholder value. We are not standing still."

Issued by Shell Malaysia Corporate Affairs on behalf of Shell Refining Company (FOM) Berhad.

For more information, please contact: LINA YAP ABDULLAH at tel: 603 2091 2252, mobile: 6012 3020 221, fax: 603 2091 2990
or email: [email protected]


Announcement Info

Company NameSHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD  
Stock Name SHELL    
Date Announced23 Feb 2005  
CategoryEntitlements (Notice of Book Closure)
Reference NoSR-050223-39745