BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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84 N O T E S T O T H E A C C O U N T S 30 APRIL 1998 3 CASH AND BANK BALANCES Included in cash and bank balances of the Group are cash at bank held under the Housing Development Account of RM13,303,000 (1997: RM15,823,000) pursuant to Section 7A of the Housing Developers (Control and Licensing) Act, 1966 and client’s monies held in trust amounting to RM3,311,000 (1997: RM752,000). 4 DEPOSITS WITH FINANCIAL INSTITUTIONS Deposits with: Group 1998 1997 RM’000 RM’000 Licensed banks 167,358 272,664 Licensed finance companies 183,045 209,606 Other financial institutions 9,352 30,761 359,755 513,031 Deposits amounting to RM237,880,000 (1997: RM261,955,000) are placed by the insurance subsidiary companies of the Group and RM1,225,000 (1997: Nil) are client’s monies held in trust. 5 DEBTORS Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Trade debtors 873,059 1,398,966 - - Money lending debtors 98,819 74,629 - - Loans receivable 107,346 85,107 - - Other debtors, deposits and prepayments 654,343 495,553 45,938 3,569 Deposits and advances paid for construction and acquisitions of properties and companies 12,403 13,808 - 15,902 Tax recoverable 291,740 220,319 60,569 52,193 Amounts due from subsidiary companies - - 3,035,715 2,637,447 Amounts due from associated companies 267,994 90,107 1 4 Sinking fund (Notes) 202,367 - - - Leasing debtors 20,225 27,004 - - Unearned carrying charges (1,975) (2,895) - - 18,250 24,109 - - Hire purchase debtors 677,670 746,484 - - Unearned carrying charges (104,802) (117,894) - - 572,868 628,590 - - 3,099,189 3,031,188 3,142,223 2,709,115 Provision for doubtful debts (95,344) (86,461) - - 3,003,845 2,944,727 3,142,223 2,709,115 Included in loans receivable are amounts totalling RM106,764,000 (1997: RM77,780,000) which are secured by life insurance policies and mortgages on properties. Amounts due from subsidiary companies are stated net of provisions of RM9,068,000 (1997: RM13,732,000). Leasing and hire purchase debtors include amounts which are receivable after twelve months. This treatment does not comply with International Accounting Standard No. 13 which requires that, under the format in which the Group’s balance sheet is presented, the non-current portion should be reflected separately.
85 N O T E S T O T H E A C C O U N T S 30 APRIL 1998 5 DEBTORS (CONTINUED) Notes : Sinking fund investments represent deposits with licensed finance companies. (a) Under the provisions of the Trust Deed dated 31 January 1994 made by a subsidiary company and the Trustee for the holders of the 5% Redeemable Unsecured Bonds 1994/1999 (“Bonds”) as disclosed in Note 10(a) to the accounts, the subsidiary company will establish and maintain a sinking fund to secure the repayment of the full amount of the original Bonds outstanding on maturity date. The following amounts shall be payable to the Trustee in cash on the dates stated below:- Contribution Dates % 11 April 1995 20 11 April 1996 40 11 April 1997 60 11 April 1998 80 11 October 1998 100 The above percentages reflect the total contribution to the sinking fund as a proportion of Bonds outstanding as at the relevant contribution date. (b) Under the provisions of the Trust Deed dated 15 July 1993 made by a subsidiary company and the Trustee for the holders of the 5% Redeemable Unsecured Bonds 1993/1998 (“Bonds”) and 6% Redeemable Convertible Unsecured Loan Stocks 1993/1998 (“CULS”) as disclosed in Note 10(b) and (c) to the accounts, the subsidiary company will establish and maintain a sinking fund to secure the repayment of the full amount of the original Bonds and CULS outstanding at maturity date on 15 September 1998. The following amounts shall be payable to the Trustee in cash on the dates stated below:- Contribution Dates % 16 September 1994 10 16 September 1995 25 16 September 1996 50 16 September 1997 75 16 March 1998 100 The above percentages reflect the total contribution to the sinking fund as a proportion of Bonds and CULS outstanding as at the relevant contribution dates. 6 STOCKS Group 1998 1997 RM’000 RM’000 Raw materials 123,165 93,236 Work-in-progress 38,007 30,286 Finished goods 527,124 375,216 Ticket stocks, stores and consumables 18,094 19,750 Completed houses 22,324 12,756 Trading account securities 66,029 141,662 794,743 672,906 Trading account securities, which principally represent investment in shares quoted in Malaysia, have a market value of RM66,737,000 (1997: RM144,480,000) as at 30 April 1998. As at 30 April 1998, trading account securities with a book value of RM51,553,000 (1997 :RM49,570,000) and market value of RM33,739,000 (1997: RM39,774,000) are pledged to the financial institutions for credit facilities granted to the subsidiary companies.
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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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BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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