BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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92 N O T E S T O T H E A C C O U N T S 30 APRIL 1998 14 INVESTMENT PROPERTIES (CONTINUED) Investment properties at cost or valuation amounting to RM335,808,000 (1997: RM180,724,000) have been pledged to financial institutions for credit facilities granted to subsidiary companies. Included in the cost of the freehold land and buildings is interest capitalised during the development period of RM8,946,000 (1997: RM3,187,000). 15 ASSOCIATED COMPANIES Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Quoted shares - outside Malaysia 187,560 173,923 - - Unquoted shares 447,435 265,984 46,545 8,995 Group’s share of post acquisition reserves (63,270) (28,062) - - 571,725 411,845 46,545 8,995 Provision for diminution in value (75,215) (36,248) - - 496,510 375,597 46,545 8,995 Market value : Quoted shares - outside Malaysia 33,661 49,311 - - The Group’s interest in the associated companies is represented by: Share of net assets 301,354 248,932 Premium on acquisition 195,156 126,665 496,510 375,597 Provision for diminution in value of certain investment in quoted shares outside Malaysia has not been made as the Directors are of the opinion that the diminution is temporary in nature. The Group’s equity interest in the associated companies, their respective principal activities and countries of incorporation are shown in Note 36. 16 SUBSIDIARY COMPANIES Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Unconsolidated subsidiary company 346,539 - - - Unquoted shares at cost - - 1,171,298 841,217 Provision for diminution in value (231,028) - (203,234) (209,734) 115,511 - 968,064 631,483 Quoted shares at cost - - 245,554 245,554 115,511 - 1,213,618 877,037 Market value of quoted shares - - 314,300 933,077 The results of operations and net assets of Roasters Corp., a company incorporated in Florida, U.S.A., of which the Group has 73.5% equity interest, has not been consolidated because the company has been placed under voluntary reorganisation pursuant to Chapter 11 Reorganisation Protection in the United States Federal Court in which the Group has lost its management control over the affairs of the company during the financial year. The Group’s equity interests in the subsidiary companies, their respective principal activities and countries of incorporation are shown in Note 36.
93 N O T E S T O T H E A C C O U N T S 30 APRIL 1998 17 INTANGIBLE ASSETS Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Goodwill arising on consolidation 2,670,024 2,448,356 - - Trademarks 69,466 56,368 - - Deferred expenditure 72,874 30,610 587 630 2,812,364 2,535,334 587 630 18 LONG TERM BORROWINGS Secured Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Term loans 1,892,737 1,198,031 75 125 Portion repayable within 12 months included under short term borrowings (Note 9) (383,113) (86,909) (50) (50) 1,509,624 1,111,122 25 75 Revolving credits 1,033,870 638,322 - - Unsecured 2,543,494 1,749,444 25 75 Term loans 205,535 248,250 - - Portion repayable within12 months included under short term borrowings (Note 9) (1,450) (1,000) - - 204,085 247,250 - - Revolving credits 108,200 95,200 - - 312,285 342,450 - - 2,855,779 2,091,894 25 75 The secured borrowings are secured on quoted and unquoted shares held by the Group and the Company or fixed and floating charges over the assets of certain subsidiary companies. The term loans are repayable over a period not exceeding five years and bear interest at rates which vary according to the respective financial institutions’ prevailing applicable lending rates ranging from 1% to 4% (1997: 1% to 4%) per annum. 19 OTHER LONG TERM LIABILITIES Secured Group Company 1998 1997 1998 1997 RM’000 RM’000 RM’000 RM’000 Block discounting creditors (Note a) 76,302 58,504 - - Portion repayable within 12 months included under creditors (Note 8) (29,083) (27,498) - - 47,219 31,006 - - Unexpired carrying charges (6,100) (3,355) - - 41,119 27,651 - - Hire purchase and leasing creditors 146,605 98,959 1,235 1,169 Portion repayable within 12 months included under creditors (Note 8) (50,701) (31,026) (554) (559) 95,904 67,933 681 610
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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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BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

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