BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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74 A U D I T O R S ’ R E P O R T To the Shareholders of BERJAYA GROUP BERHAD We have examined the accounts of BERJAYA GROUP BERHAD (the Company) and the consolidated accounts of BERJAYA GROUP BERHAD AND ITS SUBSIDIARIES (the Group) as at 30 April 1998. Our examination was made in accordance with approved auditing standards and accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, (a) (b) the accounts are properly drawn up in accordance with the provisions of the Companies Act, 1965 and give a true and fair view of the state of affairs of the Company and of the Group as at 30 April 1998 and of the results of the Company and of the Group and cash flow of the Group for the year then ended, and the accounting and other records and the registers required by the Act to be kept by the Company and its subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the Act. We have considered the accounts and the auditors’ reports of all the subsidiaries of which we have not acted as auditors, as indicated in Note 36 to the accounts, being accounts that have been included in the consolidated accounts. We are satisfied that the accounts of the subsidiaries that have been consolidated with the Company’s accounts are in form and content appropriate and proper for the purposes of the preparation of the consolidated accounts and we have received satisfactory information and explanations required by us for these purposes. The auditors’ reports on the accounts of the subsidiaries were not subject to any qualification or any adverse comment made under subsection (3) of Section 174 of the Act. Arthur Andersen & Co.Wong Kang Hwee No. AF 0103 No. 1116/1/2000(J) Public Accountants Partner of the Firm Kuala Lumpur Dated: 23 October 1998
75 B A L A N C E S H E E T S AT 30 APRIL 1998 Group Company Note 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 CURRENT ASSETS Cash and bank balances 3 129,158 184,401 115 57 Deposits with financial institutions 4 359,755 513,031 - - Debtors 5 3,003,845 2,944,727 3,142,223 2,709,115 Stocks 6 794,743 672,906 - - Development properties 7 1,727,725 1,389,309 - - 6,015,226 5,704,374 3,142,338 2,709,172 CURRENT LIABILITIES Creditors 8 2,066,882 2,421,867 1,663,785 917,127 Short term borrowings 9 2,538,726 2,507,404 308,080 203,465 Bonds and convertible unsecured loan stocks 10 235,056 4,515 - - Taxation 370,367 394,252 - - Proposed dividend 8,753 46,054 8,753 46,054 5,219,784 5,374,092 1,980,618 1,166,646 NET CURRENT ASSETS 795,442 330,282 1,161,720 1,542,526 LONG TERM RECEIVABLES 11 139,168 86,590 - - FIXED ASSETS 12 2,468,317 1,888,518 5,130 5,076 OTHER INVESTMENTS 13 1,123,940 1,311,600 56,128 28,969 INVESTMENT PROPERTIES 14 663,530 563,492 3,409 3,409 ASSOCIATED COMPANIES 15 496,510 375,597 46,545 8,995 SUBSIDIARY COMPANIES 16 115,511 - 1,213,618 877,037 INTANGIBLE ASSETS 17 2,812,364 2,535,334 587 630 LONG TERM BORROWINGS 18 (2,855,779) (2,091,894) (25) (75) OTHER LONG TERM LIABILITIES 19 (848,316) (583,811) (681) (610) DEFERRED TAXATION (123,457) (71,328) - - 4,787,230 4,344,380 2,486,431 2,465,957 FINANCED BY Share capital 20 1,215,762 877,214 1,215,762 877,214 Reserves 21 1,424,412 1,009,911 1,148,335 790,855 SHAREHOLDERS’ FUNDS 2,640,174 1,887,125 2,364,097 1,668,069 IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS 22 140,699 807,984 122,334 797,888 MINORITY INTERESTS 1,050,388 827,150 - - CAPITAL FUNDS 3,831,261 3,522,259 2,486,431 2,465,957 INSURANCE RESERVES 23 955,969 822,121 - - 4,787,230 4,344,380 2,486,431 2,465,957 The accompanying notes are an integral part of these balance sheets.
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Strength In Diversity BERJAYA GROUP
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The corporate logo comprises the wo
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TAN SRI DATO’ TAN KOK PING EXECUT
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5 Corporate Profile The Berjaya Gro
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VACATION TIME-SHARE, HOTELS, RESORT
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9 Financial Highlights RM million T
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BEFORE CHANGE IN SHAREHOLDING * 199
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13 Group Addresses BERJAYA MAHE BEA
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15 Group Addresses RESTAURANTS ROAD
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17 Penyata Pengerusi Kegawatan ekon
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19 Penyata Pengerusi Pada bulan Jun
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21 Penyata Pengerusi Kekuatan Kumpu
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147 N O T I C E O F A N N U A L G E
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151 F O R M O F P R O X Y BERJAYA G
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For further information, please con
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BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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