Financial Statements - Berjaya Corporation Berhad

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Notes To The Financial Statements 30 April 2001 28 PROFIT FROM OPERATIONS BEFORE EXCEPTIONAL ITEMS (CONTINUED) and crediting: Group Company 2001 2000 2001 2000 RM’000 RM’000 RM’000 RM’000 Gross dividends from - subsidiary companies quoted in Malaysia - - 3,845 9,101 - unquoted subsidiary companies - - 16,538 36,011 - other investments quoted in Malaysia 3,071 3,833 - - - unquoted associated companies - - 3,270 488 Interest receivable from subsidiary companies - - 198,190 224,378 Other interest income 34,561 40,274 720 2,175 Income from rental of land and buildings 11,075 8,422 42 23 Reversal of provision for diminution in value of trading account securities - 2,500 - - Bad debts recovered 878 3,285 - - Provision for doubtful debts written back 16,715 12,703 - - Write back of provision for diminution in value of investments in associated companies - 9,610 - - Write back of provision for diminution in value of general insurance subsidiary company’s investment in quoted shares - 38,499 - - Gain on disposal of associated companies 795 - - - Gain on disposal of other investments 650 4,846 - - Gain on disposal of properties - 1,517 - - Gain on disposal of property, plant and equipment 7,278 7,041 123 62 Gain on foreign exchange 28,954 16,758 - - Royalty income 1,440 2,930 - - Note: The estimated money value of benefits-in-kind received by the directors was RM1,034,000 (2000: RM842,000) for the Group and RM140,000 (2000: RM168,000) for the Company. 29 EXCEPTIONAL ITEMS Group Company 2001 2000 2001 2000 RM’000 RM’000 RM’000 RM’000 Operating exceptional items (Provision)/Write back for doubtful debts (93,282) 13,540 - - Inventories written off / down (32,071) - - - (125,353) 13,540 - - Non-operating exceptional items Gain on disposal of subsidiary companies - 9,136 - 55,412 Gain on disposal of associated companies - 65,848 - - Loss on disposal of subsidiary companies (69,734) (180,099) - (16) Provision for diminution in value of investments in subsidiary companies - (1,449) - - Write down in value of investments in subsidiary companies - - (550,090) (318,924) Write down / provision for diminution in value of investments in associated companies - (26,845) - - Provision for diminution in value of other investments (6,500) (450) - - Write down in value of other investments (81,695) (123,326) - - Overseas lottery project development expenditure written off and aborted projects - (17,603) - - Provision for settlement to a contractor arising from the proposed disposal of a subsidiary company (18,000) - - - Write off of goodwill in subsidiary companies (58,628) - - - Write down in project development expenditure - (31,745) - - (234,557) (306,533) (550,090) (263,528) (359,910) (292,993) (550,090) (263,528) 111 BERJAYA GROUP BERHAD
Notes To The Financial Statements 30 April 2001 30 FINANCE COSTS Group Company 2001 2000 2001 2000 RM’000 RM’000 RM’000 RM’000 Interest expense on :- - bank loans and overdrafts 302,712 351,322 15,176 14,820 - Bonds/CULS/ICULS/FRN 93,506 67,114 21,184 11,322 - hire purchase / lease 13,890 12,354 212 141 - amount due to subsidiary companies - - 191,573 205,169 - other borrowings (inclusive of loan related expenses) 2,894 19,352 398 - 413,002 450,142 228,543 231,452 31 SHARE OF RESULTS OF ASSOCIATED COMPANIES Group 2001 2000 RM’000 RM’000 Share of profits less losses before taxation 21,319 (3,632) Less: Attributable holding costs (10,586) (16,880) 10,733 (20,512) 32 TAXATION In Malaysia: Group Company 2001 2000 2001 2000 RM’000 RM’000 RM’000 RM’000 Current taxation 172,749 203,199 - 7,293 Deferred taxation (10,585) (4,006) - - Associated companies 3,311 809 - - In respect of prior years (7,811) 23,060 - - Outside Malaysia: 157,664 223,062 - 7,293 Current taxation 14,861 57,509 - - Deferred taxation 2,800 1,341 - - Associated companies - 247 - - In respect of prior years (8,411) (55) - - 9,250 59,042 - - 166,914 282,104 - 7,293 The effective rate of taxation for the Group is higher than the standard rate of tax applicable in Malaysia as losses of certain subsidiary companies cannot be set off against profits made by other companies in the group and certain expenses being disallowed for tax purposes. There is no tax charge for the year as the Company is in a tax loss position. As at 30 April 2001, the Company has tax losses of approximately RM3,152,000 (2000: RM1,587,000) and unutilised capital allowances of approximately RM7,633,000 (2000: RM7,600,000) which can be used to offset against future taxable profits subject to the agreement of the Inland Revenue Board. As at 30 April 2001, the Company has a potential deferred tax benefit of approximately RM3,020,000 (2000: RM2,331,000), arising principally from tax losses carried forward and unutilised capital allowances, the effects of which are not included in the accounts as there is no assurance beyond any reasonable doubt that future taxable income will be sufficient to allow the benefit to be realised. BERJAYA GROUP BERHAD 112
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 and 18: Consolidated Cash Flow Statement Fo
Page 19 and 20: Notes To The Financial Statements 3
Page 45: Notes To The Financial Statements 3
Page 81 and 82: List Of Properties As At 30 April 2
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List Of Properties As At 30 April 2
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Statement Of Directors’ Sharehold
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Statistics On Shareholdings As At 1
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Notice of Annual General Meeting NO
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Fold this flap for sealing Affix st
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R SECURITIES SDN BHD BERJAYA GENERA
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Financial Statements - Berjaya Corporation Berhad

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