2008 Annual Report - Kenford Group Holdings Limited

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Notes to the Financial Statements For the year ended 31 March 2008 19. INVESTMENTS IN SUBSIDIARIES (Continued) Details of the subsidiaries as at 31 March 2008 are as follows: Place of Percentage of Form of incorporation/ Issued and ownership interest business registration paid–up share/ attributable Name of company structure and operation registered capital to the Company Principal activities Directly Indirectly Asia Pilot Corporation The British Virgin US$1 100% – Investment holding Development Islands (“BVI”) Limited Kenford HK Corporation Hong Kong HK$1,000,000 – 100% Design, manufacture and sale of electrical hair care products, electrical health care products and other small household electrical appliances Sky Ocean Corporation BVI US$1 – 100% Investment holding Group Limited Kario HK Corporation Hong Kong HK$10,000 – 100% Investment holding and trading DG Kario Corporation The People’s HK$17,600,000 – 100% Design, manufacture and Republic of China sale of electrical hair care products and other electrical appliances Talent Star Corporation Hong Kong HK$1 – 100% Managerial services for (China) Limited group companies Fame Motor Limited Corporation Hong Kong HK$1 – 100% Investment holding and trading Dongguan Fame Corporation The People’s US$1,000,000 – 100% Design, manufacture and Motor Limited Republic of China sale of motors None of the subsidiaries had any debt securities subsisting at the end of year or at any time during the year. Annual Report 2008 65
Notes to the Financial Statements For the year ended 31 March 2008 20. INVENTORIES Group 2008 2007 HK$’000 HK$’000 Raw materials 47,623 36,350 Work in progress 6,489 4,381 Finished goods 18,302 15,122 72,414 55,853 21. TRADE AND BILLS RECEIVABLES Group In general, the credit terms granted by the Group ranged from 14 to 90 days. 2008 2007 HK$’000 HK$’000 Trade receivables 69,982 62,868 Bills receivables 16,317 31,851 86,299 94,719 The aging analysis of trade receivables is as follows: 2008 2007 HK$’000 HK$’000 Aged: Within 60 days 56,885 50,168 61 – 120 days 12,405 9,625 121 – 365 days 212 3,022 More than 365 days 480 53 69,982 62,868 The maturity dates of bills receivables are generally between one to three months. The Group transferred certain bills of exchange amounting to HK$7,461,000 (2007: HK$31,466,000) to banks with recourse in exchange for cash during the year. The transactions have been accounted for as collateralised bank advances. 66 KENFORD GROUP HOLDINGS LIMITED
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Contents Page 1. Corporate Informat
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Chairman’s Statement On behalf of
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Management Discussion and Analysis
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Management Discussion and Analysis
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Report of the Directors PROPERTY, P
Page 12 and 13:
Report of the Directors DIRECTORS
Page 14 and 15:
Report of the Directors SUBSTANTIAL
Page 16 and 17: Report of the Directors SHARE OPTIO
Page 18 and 19: Report of the Directors SHARE OPTIO
Page 20 and 21: Report of the Directors TAXATION OF
Page 22 and 23: Directors' and Senior Management's
Page 24 and 25: Directors' and Senior Management's
Page 26 and 27: Corporate Governance Report BOARD O
Page 28 and 29: Corporate Governance Report CHAIRMA
Page 30 and 31: Corporate Governance Report NOMINAT
Page 32 and 33: Corporate Governance Report INVESTO
Page 34 and 35: Corporate Structure CORPORATE STRUC
Page 36 and 37: Independent Auditor’s Report OPIN
Page 38 and 39: Consolidated Balance Sheet As at 31
Page 40 and 41: Consolidated Statement of Changes i
Page 42 and 43: Notes to the Financial Statements F
Page 84 and 85: Five Years Financial Summary CONSOL
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2008 Annual Report - Kenford Group Holdings Limited

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