Connecting the nation. and Beyond. - ChartNexus

33 LOAN STOCKS AT COST
The loan stocks issued by a subsidiary pursuant to a Joint Venture Agreement dated 18 April 1996 were due for redemption
on 1 January 2002. The joint venture parties have consented to extend the redemption to 31 December 2016 or within 6
months from the completion of joint venture project, whichever shall be earlier at 100% of its nominal value for all loan
stocks not previously redeemed or purchased together with all accrued interest thereon under the Supplemental Joint
Venture Agreement dated 19 February 2003.
The carrying values of the loan stocks approximate their fair values.
34 PROVISIONS FOR OTHER LIABILITIES AND CHARGES
Group Company
Liquidated Liquidated
ascertained ascertained
damages Others Total damages
RM’000 RM’000 RM’000 RM’000
At 1 January 2011 409 12,000 12,409 –
Charged to profit or loss 18,050 – 18,050 7,000
Reclassification from other payables 1,000 – 1,000 –
Utilised during the financial year (409) – (409) –
At 31 December 2011 19,050 12,000 31,050 7,000
At 1 January 2010 140 12,000 12,140 –
Charged to profit or loss 624 – 624 –
Utilised during the financial year (355) – (355) –
At 31 December 2010 409 12,000 12,409 –
(a) Liquidated ascertained damages
Provision for liquidated ascertained damages (LAD) is recognised for expected LAD claims based on the contract
agreement, circumstances of projects and management’s past experience.
(b) Others
/ MRCB laporan tahunan 2011 / 233
Others relate to a provision made by a subsidiary for potential remedial works on the freehold land held by the
subsidiary based on the estimate made by an external consultant.