Financial Statements - Berjaya Corporation Berhad

More documents

Recommendations

Info

Cash Flow Statement For The Year Ended 30 April 2001 2001 2000 RM’000 RM’000 OPERATING ACTIVITIES Payment for operating expenses (13,749) (24,188) Tax refund 23,721 - Payment of taxes - (92) Other receipts 1,349 1,249 Net cash flow from operating activities 11,321 (23,031) INVESTING ACTIVITIES Sales of property, plant and equipment 170 64 Sales of investments in subsidiary companies 895 119,040 Acquisition of property, plant and equipment (160) (822) Acquisition of investments in subsidiary companies (19,961) (20,953) Acquisition of investments in associated companies (4,036) (4,998) Acquisition of other investments - (6,657) Interest received 720 2,174 Dividends received 35,297 52,216 Net cash flow from investing activities 12,925 140,064 FINANCING ACTIVITIES Issuance of share capital - 3,917 Issuance of debt securities - 640,025 Bank borrowings and loan finance 110,000 5,278 Loan/capital issuing expenses - (7,183) Repayment of borrowings and loans (37,004) (58,335) Payment of hire purchase/lease liabilities (393) (545) Interest paid (39,220) (18,656) Dividends paid (10,787) (38,308) Inter-company receipts 482,740 1,667,024 Inter-company advances (517,479) (2,318,451) Net cash flow from financing activities (12,143) (125,234) NET CASH INFLOW / (OUTFLOW) 12,103 (8,201) OPENING CASH AND CASH EQUIVALENTS (67,250) (59,049) CLOSING CASH AND CASH EQUIVALENTS (55,147) (67,250) CASH AND CASH EQUIVALENTS 2001 2000 RM’000 RM’000 The closing cash and cash equivalents comprise the following: Cash and bank balances 3,750 169 Bank overdrafts (58,897) (67,419) (55,147) (67,250)
Notes To The <strong>Financial</strong> <strong>Statements</strong> 30 April 2001 1 PRINCIPAL ACTIVITIES AND GENERAL INFORMATION The principal activities of the Company consist of investment holding and provision of management services. The principal activities of the subsidiary and associated companies are described in Note 42. There were no significant changes in the Group’s activities during the year other than the acquisition or disposal of subsidiary companies as disclosed in Note 42. The registered office of the Company is located at Level 17, Menara Shahzan Insas, 30, Jalan Sultan Ismail, 50250 Kuala Lumpur. The number of employees in the Company and the Group at the end of the year were 104 (2000 :186) and 23,467 (2000 : 21,783) respectively. 2 SIGNIFICANT ACCOUNTING POLICIES (1) Basis of accounting The financial statements are prepared under the historical cost convention and comply with applicable approved accounting standards in Malaysia. (2) Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and all its subsidiary companies made up to the end of the financial year, except for Taiga Forest Products Ltd., a Canadian listed foreign subsidiary company, whose financial year end is 31 March 2001. Approval from the Registrar of Companies has been obtained for this differing year end. There were no significant transactions between 31 March 2001 and the Group’s financial year end that require adjustments. Subsidiary companies are those companies in which the Group has power to exercise control over the financial and operating policies of the companies. Companies acquired or disposed during the year are included in the consolidated financial statements from the date of acquisition or to the date of disposal. Intragroup transactions are eliminated on consolidation and the consolidated financial statements reflect external transactions. The difference between the purchase price over the fair value of the net assets of subsidiary companies at the date of acquisition is included in the consolidated balance sheet as goodwill or reserve arising on consolidation. Goodwill or reserve arising on consolidation is not amortised. Subsidiary companies which meet the criteria for merger accounting are accounted for using the merger accounting principles. When the merger method is used, the cost of investment in the acquiror’s book is recorded as the nominal value of shares issued and the difference between the carrying value of the investment and the nominal value of shares acquired is treated as merger reserve. The results of the companies being merged are included as if the merger had been effected throughout the current and previous financial years. All the subsidiary companies are consolidated using the acquisition method of accounting except for the acquisition of Singer (Malaysia) Sdn Bhd, having met the criteria for merger accounting, which is accounted for under the merger method. (3) Associated companies The Group treats as associated companies those companies in which a long term equity interest of between 20% to 50% is held and where the Group is in a position to exercise significant influence through Board representation over the financial and operating policies. Premium or discount on acquisition, which is the difference between the purchase consideration for shares in the associated companies and the share of net assets at the date of acquisition, is not amortised. However, the premium on acquisition is written down where in the opinion of the directors, there has been a permanent diminution in value. BERJAYA GROUP BERHAD 84
Page 1 and 2: Financial Statements Directors’ R
Page 3 and 4: Directors’ Report For The Year En
Page 9 and 10: Statement By Directors We, TAN SRI
Page 11 and 12: Balance Sheets At 30 April 2001 Gro
Page 13 and 14: Consolidated Statement Of Changes I
Page 15 and 16: Consolidated Cash Flow Statement Fo
Page 17: Consolidated Cash Flow Statement Fo
Page 21 and 22: Notes To The Financial Statements 3
Page 69 and 70:
Notes To The Financial Statements 3
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
List Of Properties As At 30 April 2
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Statement Of Directors’ Sharehold
Page 111 and 112:
Statistics On Shareholdings As At 1
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Notice of Annual General Meeting NO
Page 119 and 120:
Fold this flap for sealing Affix st
Page 121:
R SECURITIES SDN BHD BERJAYA GENERA
show all

Financial Statements - Berjaya Corporation Berhad

Create successful ePaper yourself

Delete template?

Save as template?