To mobilise resources in order to provide curative, preventive, research and support services to cancer patients and families, high-risk groups and the general public.
To pool and utilise all efforts, expertise and finance from all sectors of the society to fight cancer and reduce related pain, morbidity and the suffering that cancer patients undergo.
Syukur Alhamdulilah we navigated through 2021 with Allah’s Grace and Mercy when COVID-19 was still looming over humanity. Cure was being produced in the multi-billion dollar labs ready to be distributed to the rest of the world. Vaccines were mass produced in record time, never before in the history of the world such a feat was accomplished by the big Pharmas. It was a huge sigh of relief and gratitude and hope when DG of Health announced the arrival of Pfizer Vaccines in Feb 2021.
We changed mode from living in fear to living with hope of returning to normalcy. We adjusted the work-from-home policy to a rotation basis, minimised physical human interactions through online-based events and activities apart from some ground level services that were halted due to Movement Restrictions Order. Our frontliners and high-risk groups were among the first to receive their shots. In March, the nationwide immunity program was rolled out by the Government .
When the DG of Health called for NGOs to help with the deployment of the vaccines to reach herd immunity, we came forward to assist. The whole MAKNA team were vaccinated to help with the nationwide vaccination program. We repurposed our Digital Mobile Mammogram Unit into a mobile vaccination hub, reaching out to communities in rural areas with our existing medical team and mobile team. Our first vaccination program started in Malacca, and later to Kedah, Kelantan, and Kuala Lumpur. Our team in Sabah and Sarawak were also deployed to reach out to bedridden patients at home. Booster shots were subsequently given too.
By September, the Government announced we had reached herd immunity. Alas, HOPE of CURE was real. Syukur…. We were finally able to travel with less restrictions and continue with our programmes, public fundraising activities and working arrangements of business-as-usual. Importantly, we learnt first hand that we need to be agile and resilient - to be able to weather major, unprecedented global health crisis or any global crisis .
I am proud of my fellow MAKNArians for the ability to make quick important decisions adapting to challenges and changes. Change is constant. We must be fully prepared as we brace through an uncertain future. This year, our report is a unique one – as we present to you the great effort and dedication as we respond to a crisis – a humanitarian mission. We may have accomplished beyond our scope, but it was our duty to serve the country and community.
Thank you.
Our journey in 2021 was remarkable in many ways.
As a not-for-profit cancer organization, there are no other option for us but to strive for excellence. We are honoured to take this responsibility as our own and aim to fulfil it in the best way possible.
In this Annual Report, we’ve compiled vital information about MAKNA, where you will find complete summaries on our organization’s services, income, expenditure as well as social events or activities for the year.
In 2021, I am happy to share the following news:
We have successfully supported 7,616 cancer cases through our bursary programme consisting of adults and paediatric patients. With the availability of the MAKNA Bursary Online System (MBOS), it allows our bursary assistance application to be done with less processing time.
The Home Care Nursing team attended to 1,129 stage 3 and 4 cancer patients at home, while our Home Visit team travelled to the homes of 4,440 of stage 1 and 2 cancer patients.
In the same year, MAKNA responded to the government’s call for volunteers in their nationwide COVID-19 vaccination program, by setting up Pusat Pemberian Vaksin (PPV) Bergerak, a vaccination programme initiative. We’ve distributed a total of 4,522 doses to communities in Melaka, Kedah, Kelantan, Sabah and Sarawak.
On top of that, we’ve delivered food packs to 3,117 cancer patients through the Food Packs Assistance Programme, a collaboration with AEON, MYDIN and Pos Malaysia.
We’ve also extended our services all the way to East Malaysia to make sure no one is left behind from getting proper cancer care. Two units of our Digital Mobile Mammogram Trailer is now available in each state, Sarawak, and Sabah to serve the women community in getting free breast cancer screening as a way of early detection.
Our success today greatly relies on the accessibility of technology. It allows us to reach to our patients further and faster. The way we do things may have changed, but our services will always be with a gentle touch.
By running and staying relevant for 27 years, we remain optimistic for a bright outlook for the years to come. The journey could not have happened without the tireless support, dedication, commitment loyalty and belief of our Board of Trustees, Executive Committees, and staff.
We need to prepare and equip ourselves for what’s to come. I truly believe that it is the resilience of the human spirit to achieve what it set out to do will bring a fruitful and thrilling results.
It’s been an honour to serve the community with you.
Thank you.
YAM Tengku Puteri Seri Lela Wangsa
Tengku Tan Sri Hajjah Meriam binti
Al-Marhum Sultan Haji Ahmad Shah
Al- Musta’in Billah
YBhg Emeritus Professor Tan Sri Dato’
Dzulkifli Abdul Razak
PSM.,SIMP.,JP Chairperson, Rector, International Islamic University Malaysia
Vice President
Emeritus Professor Dr Cheong Soon Keng
Dean, Faculty of Medicine & Health Sciences UTAR & Emeritus Professor, Hospital Canselor
Tuanku Muhriz
Honorary Secretary
Dr Imran Abdul Khalid
Hon. Lecturer, Penang Medical College & Pengerusi
Badan Sokongan Pesakit Kanser
Seberang Perai
In the light of the public health crisis, a collaborative effort involving multiple agencies and organisations was crucial in mitigating the situation hence to support the government’s initiative in achieving herd immunity, the Digital Mobile Mammogram Unit was repurposed and utilised to provide vaccination service in rural areas across Malaysia.
4,522 doses
ADMINISTERED including first and second dose and booster shots.
States visited: KUALA LUMPUR MALACCA KEDAH SABAH SARAWAK
The MAKNA Food Packs Assistance aimed to provide assistance to cancer patients affected by the pandemic. Criteria of recipients were chosen in accordance to their financial background status of B40 or income below Pendapatan Garis Kemiskinan (PGK) or with zero income.
Number of recipients:
3,117
cancer patients
Peninsular 2,319
445
Sarawak
353
Sabah
Number of packs distributed: 9,351 (3 packs per recipients)
Following the reopening of schools, a specific initiative was needed as children were not vaccinated at the time. To ensure their safety, MAKNA distributed MAKNA’s Special Edition washable face mask, disinfectant as well as pencil case and periwinkle flowers to students and teachers at Sekolah Kurang Murid (SKM) nationwide.
Numbers of SKM benefited: 609
Numbers of SKM visited: 381
Numbers of students benefited:
30,729
MAKNA’s Bursary (Financial Assistance) is intended for cancer patients in the lower income groups who are undergoing treatment at government hospitals. They can apply via their respective hospital’s Medical Social Welfare Department. Our financial aid is provided for purchasing necessities which include non-formulary drugs, milk supplements, surgical equipment, prostheses, colostomy bags as well as financial assistance for those who need them.
There was a 20% increase in application for assistance and 57% increase in amount disbursed during the pandemic as applications were made online, resulting in faster and more convenient approval.
PAEDIATRIC CASES ADULT CASES
7,106
510
TOTAL CASES
7,616 AMOUNT DISBURSED
2021 RM24,746,866.00
2020 RM15,688,766.00
Types of Assistance offered
scan here for a video on how to apply
The cancer institute, established in 1999 in collaboration with Hospital Canselor Tuanku Muhriz UKM (HCTM), provides comprehensive and state-of-the-art facilities to cancer patients of all financial backgrounds. The cancer institute comprises of an oncology ward, radiotherapy services center and a stem cell transplant ward.
Due to the global health crisis, 50% of the ward capacity was put on standby as COVID-19 ward while others functioned as usual. Furthermore, the MAKNA-HCTM nurses were also involved in the COVID-19 national service for vaccination assistance in rural areas across Malaysia.
All patients receiving the MAKNA Bursary (Financial Assistance) are visited by the Home Visit team to ensure all donations are channelled to the rightful recipients. The team plays an essential role as well as providing emotional support and encouragement for patients to continue with their treatment or follow-ups.
Due to SOPs and Movement Control Order (MCO) restrictions on interstate travel applied during the first and second quarter of the year, our Home Visit team were unable to visit the patients personally at home. However, the team managed to stay connected with the patients via phone calls for their updates. Once the travel ban was relaxed and lifted, Home Visit activities were resumed as per usual.
ADULT PATIENTS
4,032
PAEDIATRIC PATIENTS
408
TOTAL PATIENTS
2021 : 4,440
2020 : 5,382
BURSARY DEPARTMENT
APPOVED BURSARY APPLICATIONS
Ensure patients receives the approved aid and are continuing their treatment
HOME VISIT TEAM
LATEST STATUS HOSPITALS
Help patients and family gain better knowledge on MAKNA services
Assess and verify patients’ details, prognosis, treatment, and socio-economic status
MAKNA Home Care Nursing is a clinical team handled by trained nurses and a healthcare assistant to provide help for cancer patients receiving treatment at home after being discharged from the hospital and offer emotional support to patients and caretakers. Caretakers will be trained to take care of the patient’s needs such as changing a colostomy bag, cleaning wounds and others.
MALE FEMALE
555
574
Reach out to bedridden and stage 3 and 4 cancer patients
2021 1,129
2020
564
Help patients and caretakers to perform necessary care such as dressing wounds, changing colostomy bags and inserting or extracting urinary chatheter
Provide appropriate nursing care as well as psychological support for the patients after their treatment
We believe that early detection and prevention are crucial factors in reducing cancer morbidity and mortality. With this in mind, MAKNA introduced the Digital Mobile Mammogram Unit Programme in 2011 to deliver breast cancer screening services to locations all over Malaysia, for those who come from poor dwellings and are unable to afford or have access to such facilities.
Due to the pandemic, the DMMU was unable to deploy its services especially with travel restrictions and government lockdown. The DMMU were repurposed as a mobile vaccination centre for the COVID-19 national service, which took place at rural areas in Malacca, Kedah, and Kelantan. Among the staff involved were DMMU radiographers and MAKNA-HCTM nurses.
In June 2021, in response to the government’s call for volunteers in their nationwide COVID-19 vaccination programme, MAKNA has set up a Vaccination Programme Initiative involving staff assigned from the DMMU team.
For the past 20 years, we have been committed towards advancing cancer research in providing research funds and grants to make life-changing scientific discoveries.
In 2021, the annual MAKNA Cancer Research Award (MCRA), initiated in collaboration with the Academy of Sciences Malaysia (ASM) were conducted via online platform.
Our volunteers are the key drive force helping us cast a wider net and extend support to a larger group of cancer patients as they undergo treatment encompassing communities from all parts of the country.
Volunteers from the states moved from one location to another to deliver food aid under our Food Packs Assistance to cancer patients who were affected by the pandemic. Moreover, annual activities such as Volunteer Appreciation Day (VAD) and MAKNA Founder’s Run were carried out virtually via online platform.
POTENTIAL LEADERS 10
2021 : 221
2020 : 350
TOTAL ACTIVITIES CONDUCTED
2021 : 276
2020 : 408
AREAS WHERE VOLUNTEERS ARE INVOLVED IN:
CANCER AWARENESS
HOME & HOSPITAL VISITS
VOLUNTEER SUPPORT GROUPS
VOLUNTEER TRAININGS
COMMUNITY OUTREACH PROGRAMME
The MAKNA halfway houses provide short-term accommodation for patients and their caregivers travelling away from home for treatment. Patients can have a comfortable place to rest after undergoing treatment without having to worry about the cost of travel.
Our halfway houses remains open during the pandemic to enable patients with prior appointments to receive their schedule treatment.
“No money, no talk” – these are the words addressed by our founder, Dato Mohd Farid Ariffin. The donation and support by our generous donors made it possible for us to stay true to our mission to reduce the burden thus enhancing the lives of cancer patients through continuous efforts into fundraising.
Despite the health crisis, we receive an increase of 17.5% in donation amount, thanks to online sign-ups and an upgrade of monthly contributions by our recurring donors.
This fundraising project has been the main income generator for MAKNA since 2002. Each donor commits to MAKNA a monthly deduction of RM38, RM58 or RM88. The donation is made via credit cards, debit cards or bank accounts.
Monthly Commitment
RM38 - RM88
Auto Debit
New Donors Anniversary Donors
3,917
96,423
Amount Collected
2021 : RM43.64 million
2020: RM44.26 million
Once you have decided to donate to our cause, we are making it more convenient for you to do so through the e-charity platform.
The initiatives under SSL include Kempen Kutip Syiling and donation boxes. This programme is supported by the Ministry of Education and Bank Negara Malaysia to encourage school children to donate smaller amount using coins.
Donations can easily be done at your fingertips by visiting www.makna.org.my or to crowdfund via simplygiving.com.
Awareness drives are organised to encourage positive health behaviour changes. Due to the pandemic, we had to re-strategize the delivery of the talks and exhibition, focusing on more online program throughout the year.
ONLINE:
ON-GROUND: ONLINE:
ON-GROUND: ONLINE:
ON-GROUND:
ONLINE:
ON-GROUND:
SCHOOLS
ONLINE:
ON-GROUND:
2021 : 87
TOTAL
2020: 59
We are always here to listen and give support, not only to cancer patients, but also their families, caregivers, and the general public. Our personnel who are trained in oncology will attend to individuals seeking information, guidance, and emotional support through calls, emails, and social media direct messages.
Calls attended:
Battling with cancer is already hard; dealing with the emotional toll of cancer can also be overwhelming. Our support group headed by trained staff members and volunteers will give counsell to cancer patients, their family members, or caregivers to ease their cancer journey.
Sharing therapy sessions:
Visits to patients at home and hospitals:
For young cancer patients or survivors, their studies might be affected as a lot of resources are allocated for their treatment. To help them in completing their education, we provide financial assistance through this scholarship programme.
Total amount: RM 91,909.00
Total applications: 62
Apart from helping cancer patients in Malaysia, we also aspire to extend our reach internationally. Through external partnerships with cancer communities across the world, we can reduce the global cancer burden together.
Total training activities: 2
Bursary assistance cases approved: 11
Total applications: RM 15,000.00
Received UNIATF Award for Prevention and Control of Non-Communicable Disease (Non-State Actors category).
HALFWAY HOUSE PENANG
Kepala Batas, Penang
MAMMOGRAM TRAILER KUALA LUMPUR
HEAD QUARTERS
Klang Valley
HALFWAY HOUSE PUTRAJAYA
Precinct 15, Putrajaya
HALFWAY HOUSE KELANTAN
Kubang Kerian, Kelantan
HALFWAY HOUSE JOHOR
Johor Bahru, Johor
Kuching,
Our West Malaysia's MAKNA Digital Mobile Mammogram Unit (DMMU) will be available across the territory to deliver breast cancer screening.
The MAKNA Exhibition Truck is equipped with advanced equipment that uses Virtual Reality (VR) technology as a means of conveying information on cancer. By using such technology in this new innovation, we believe it will improve our efforts to increase awareness and knowledge on cancer among the general public.
The arrival of the Digital Mobile Mammogram Trailer at Kota Kinabalu, Sabah.
MAKNA staff performing a maintenance inspection on the Mammogram Trailer upon its arrival to Sabah.
Hands-on experience during CANRES Open Day.
The Homevisit team visiting one of their bursary cases.
Home Care Nursing staff conducting a blood pressure measurement on a bedridden cancer patient.
A highschool student trying on MAKNA’s latest Virtual Reality (VR) innovation on our Mobile Exhibition Truck
MAKNA Lifeline Clothing donation.
MAKNA staff providing flood relief assistance to staff that were affected.
A cancer survivor telling her story to one of our staff during an interview.
MAKNA receiving a truckload of face mask and disinfectant donations from LG Household & Healthcare.
Our staff cleaning and clearing the houses affected during the major floods.
MAKNA Cancer support group at Villa Farul in Putrajaya.
Augmented reality (AR) is the integration of digital information with the user's environment in real time. AR users experience a real-world environment with generated perceptual information overlaid on top of it.
SCAN THE QR CODE POINT YOUR CAMERA TO THE TARGETED IMAGE
POINT YOUR CAMERA HERE
EXPERIENCE THE AUGMENTED REALITY (AR)
DIGITAL MOBILE MAMMOGRAM UNIT
MOBILE EXHIBITION TRUCK
MAJLIS KANSER NASIONAL (Society No.2009/94 (Wilayah Persekutuan))
(Established under Societies Act, 1966)
We, Emeritus Prof. Dr. Cheong Soon Keng and Rosleem Nordin @ Bohari, two of the Executive Committee members of Majlis Kanser Nasional (“the Society”), state that, in the opinion of the Executive Committee, the financial statements set out on pages 36 to 49 are drawn up so as to give a fair presentation of the financial position of the Society as at 31 December 2021 and of the financial performance and cash flows of the Society for the financial year ended on that date in accordance with the accounting policies set out in Note 2 to the financial statements.
Kuala Lumpur
In our opinion, the financial statements of Majlis Kanser Nasional (“MAKNA”) give a true and fair view of the financial position of MAKNA as at 31 December 2021, and of its financial performance and its cash flows for the financial year then ended in accordance with the accounting policies set out in Note 2 to the financial statements.
We have audited the financial statements of MAKNA, which comprise the statement of assets, liabilities and fund balances as at 31 December 2021, and the statement of income and expenditure, statement of changes in accumulated fund and statement of cash flows for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies, as set out on pages 36 to 49.
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the “Auditors’ responsibilities for the audit of the financial statements” section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We are independent of MAKNA in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code.
The Committee of MAKNA is responsible for the preparation of the financial statements of MAKNA that give a true and fair view in accordance with the accounting policies set out in Note 2 to the financial statements. The Committee is also responsible for such internal control as the Committee determines is necessary to enable the preparation of financial statements of MAKNA that are free from material misstatement, whether due to fraud or error. In preparing the financial statements of MAKNA, the Committee is responsible for assessing MAKNA’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Committee either intends to liquidate MAKNA or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements of MAKNA as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with approved standards on auditing in Malaysia and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
(a) Identify and assess the risks of material misstatement of the financial statements of MAKNA, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
(b) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of MAKNA’s internal control.
(c) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Committee.
(d) Conclude on the appropriateness of the Committee’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on MAKNA’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements of MAKNA or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause MAKNA to cease to continue as a going concern.
(e) Evaluate the overall presentation, structure and content of the financial statements of MAKNA, including the disclosures, and whether the financial statements of MAKNA represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with the Committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
This report is made solely to the members of MAKNA and for no other purpose. We do not assume responsibility to any other person for the content of this report.
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
INCOME
Receipts from projects
Donation received from individuals, societies and corporations
Interest from deposits
Dividend income
Annual subscriptions
LESS: EXPENDITURE
Bursary
Salaries and related costs
Activities costs
Administrative costs
Depreciation of property, plant and equipment
Consumables, cleaning and utilities
Scholarship granted
Loss on disposal of investment
Property, plant and equipment written of Reversal of provision for impairment of investments
SURPLUS OF INCOME OVER EXPENDITURE BEFORE TAXATION
TAXATION
SURPLUS OF INCOME OVER EXPENDITURE AFTER TAXATION
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
2021
Balance at 1 January 2021
Surplus of income over expenditure
Balance at 31 December 2021
2020
Balance at 1 January 2020
Surplus of income over expenditure
Balance at 31 December 2020
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Surplus of income over expenditure after taxation
Adjustment for:
Depreciation of property, plant and equipment
Interest income
Dividend income
Tax expense
Property, plant and equipment written of Reversal of impairment of investments
(Deficit)/Surplus before working capital changes
Changes in working capital:
Receivables
Trade and other payables
Cash generated from operating activities
Interest received
Tax paid
Tax refund
Net cash flows generated from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment
Net movement in fixed deposits with licensed banks with maturity of more than 3 months
Dividend received
Reinvestment of dividend income into investments in unit trusts
Net cash flows used in investing activities
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED)
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the financial year
Cash and cash equivalents at end of the financial year
Non-cash transactions:
During the financial year, dividend income of RM194,043 (2020: RM185,298) had been reinvested in investments in unit trusts and tax payment of RM4,085 (2020: RM1,468) had been deducted from the gross dividend income.
Majlis Kanser Nasional ("MAKNA") was registered on 10 November 1994 and officially launched on 30 March 1995 and was approved by the Department of Inland Revenue for the purposes of Section 44(6) of the Income Tax Act, 1967. The objectives of MAKNA are to work towards the attainment of a better health care system for all Malaysians especially in terms of the prevention and control of cancer; to develop and formulate policies for cancer prevention and intervention; to strengthen and generate services and programmes on cancer and to strengthen support services for cancer patients and affected persons.
MAKNA has 217 (2020: 211) employees at the end of the financial year.
The address of the principal place of activity is as follows:
BG 03A & 05, Ground Floor Megan Ambassy, 225, Jalan Ampang 50450, Kuala Lumpur.
(a)Property, plant and equipment
Property, plant and equipment are stated at cost, with the amount of sales and services tax (“SST”) included, less accumulated depreciation and impairment losses.
Property, plant and equipment are depreciated on a straight line basis to write-off the cost of each asset over its expected useful life. The principal annual rates of depreciation used are as follows:
Property, plant and equipment received on donation are not capitalised.
At each balance sheet date, an assessment is made for any indication of impairment. If such indications exist, an analysis is performed to assess whether the carrying amount of the asset is fully recoverable. A write down is made if the carrying amount exceeds the recoverable amount. See accounting policy Note 2(e) on impairment of assets.
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED)
Cash and cash equivalents consist of cash in hand, cash at bank and fixed deposits with licensed banks with original maturities of 3 months or less that are readily convertible to known amounts of cash which are subject to an insignificant risk of change in value.
Income is recognised when it is probable that the economic benefits associated with the transaction will flow to the organisation and the amount of income can be measured reliably.
Receipts from projects relate to donations raised from projects and are recognised on a receipt basis.
Donations received from individuals, societies and corporations are recognised on a receipt basis.
Interest from deposits with licensed banks is recognised on an accrual basis based on the principal outstanding and the rates applicable.
Interest from investments is recognised on an accrual basis based on the principal outstanding and the rates applicable.
Dividend income is recognised when the right to receive payment is established.
Expenditure is recognised on an accrual basis.
Investments are stated at lower of cost or market value on an aggregate portfolio basis. On disposal of an investment, the difference between the net disposal proceeds and its carrying amount is charged or credited to the statement of income and expenditure.
Investments are classified as current assets if maturity is due within one year or less. If not, they are presented as non-current assets.
Property, plant and equipment are reviewed for impairment losses whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment loss is recognised for the amount by which the carrying amount of the asset exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s net selling price and value in use. For the purpose of assessing impairment, assets are grouped at the lowest level for which there is separately identifiable cash flows. The impairment loss is charged to the statement of income and expenditure and any subsequent increase is recognised in the statement of income and expenditure.
Receivables are measured initially at cost, with the amount of sales and service tax (“SST”) included, less provision for impairment. The provision is established when there is objective evidence that MAKNA will not be able to collect the amounts due according to the original terms of receivables. Cash flows are included in the statement of cash flows on a gross basis.
Payables are obligations to pay for goods and services that have been acquired in the ordinary course of operation from suppliers. Payables are recognised at cost, with the amount of sales and service tax (“SST”) included. Cash flows are included in the statement of cash flows on a gross basis.
Current tax expense is determined according to the tax laws of each jurisdiction in which MAKNA operates and include all taxes based upon the taxable income.
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
Donation received from projects:
System
-MAKNA Pledge against Cancer
are:
The employee information is as follow:
MAKNA has been given exemption on income, other than dividend income, under Paragraph 13 of Schedule 6 of the Income Tax Act, 1967 with effect from 1 March 1995 to 31 December 2024. The taxation charge for the financial year is in respect of dividend income. There is no taxation charge on the income of MAKNA arising from its operations which is exempted from taxation under the mutuality concept.
MAKNA has 40,468.6 square metres of donated leasehold land in Mukim Bentong, Pahang under a 99-year lease period from 2 February 1999 to 1 February 2098 which has not been capitalised in the financial statements. The land cannot be transferred, leased or mortgaged and can only be used for commercial building purposes
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED)
7.INVESTMENTS
8.RECEIVABLES
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED)
Fixed deposits with licensed banks
Cash and bank balances
Less: Investment in fixed deposits with licensed banks with maturity more than 3 months
Cash and cash equivalents
The weighted average interest rate per annum of fixed deposits with licensed banks effective as at the financial year end is 2.45% (2020: 2.86%) per annum. Fixed deposits have an average maturity period of 11 to 15 months (2020: 12 to 15 months). Bank balances are deposits held at call with banks.
As at 31 December 2021, MAKNA is committed to provide financial assistance to patients. The number of months committed is within the range of 6 to 12 months, for an amount of RM150 to RM500 (2020: RM150 to RM500) per month.
On 30 June 2021, MAKNA engaged Scania (Malaysia) Sdn Bhd to purchase a new Prime Mover vehicle to support its mobile trailer activities in the Peninsular Malaysia region with an expected cost of RM214,500. Payment has subsequently been made in January 2022.
On 27 July 2020, MAKNA engaged Eemed International Sdn Bhd for a refurbishment project on its existing Mobile Mammogram Semi Trailer at an agreed price of RM1,189,000. The refurbishment project has been completed in the current financial year. The balance due on this agreement as at 31 December 2021 is nil (2020: RM832,300)
