Change - S P Setia Berhad

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110 Annual report 2008 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 12. AMOUNTS OWING BY/TO ASSOCIATED COMPANIES Amounts owing by associated companies included under non-current assets The amounts owing by associated companies included under non-current assets represent unsecured interest free advances not expected to be recalled within the next 12 months: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Gross amount of advances 2,054 2,046 1,965 1,973 Allowance for doubtful debts (1,750) (1,677) (1,677) (1,677) 304 369 288 296 Amounts owing by associated companies included under current assets Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Trade accounts – progress billings receivable 3,488 17,655 – – – retention sums 7,437 9,841 – – Others 3,952 1,071 – – 14,877 28,567 – – The trade accounts are expected to be settled within the normal credit period. 13. AMOUNT OWING BY JOINTLY CONTROLLED OPERATION The amount owing by the jointly controlled operation represents unsecured advances bearing interest at 8.0% per annum which are not expected to be recalled within the next 12 months. The amount owing by the jointly controlled operation comprises: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Principal sum 6,151 – – – Interest receivable 296 – – – 6,447 – – –
111 S P <strong>Setia</strong> <strong>Berhad</strong> Group NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 14. DEFERRED TAX ASSETS Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 At beginning of the year 21,926 644 899 248 (Reversed)/Originating during the year (7,406) 21,282 (458) 651 At end of the year 14,520 21,926 441 899 The Group has recognised the deferred tax assets as it is probable that its existing construction contracts and housing development projects would generate sufficient taxable profit in the future against which the deferred tax assets can be utilised. The temporary differences on which deferred tax assets have been recognised are as follows: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Tax effects of: – unabsorbed capital allowances 234 422 69 260 – unutilised tax losses 2,329 320 – – – property development and construction profits 11,711 21,334 394 657 – excess of capital allowances claimed over accumulated depreciation on property, plant and equipment (549) (269) (22) (18) – excess of accumulated depreciation on property, plant and equipment over capital allowances claimed – 65 – – – unpaid qualifying expenditure of hire purchase and finance lease liabilities 18 54 – – – others 777 – – – 14,520 21,926 441 899 Further, the following temporary differences and unutilised tax losses exist as at 31 October the deferred tax benefits of which have not been recognised in the financial statements: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Unabsorbed capital allowances 718 770 – – Unutilised tax losses 44,358 42,015 – – Excess of capital allowances claimed on property, plant and equipment over accumulated depreciation (183) (195) – – Others 24 1,854 – – 44,917 44,444 – –
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embracing Change Annual Report 2008
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1 S P Setia Berhad Group Table of c
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3 S P Setia Berhad Group CORPORATE
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5 S P Setia Berhad Group
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7 S P Setia Berhad Group GROUP FINA
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9 S P Setia Berhad Group HALLMARKS
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13 S P Setia Berhad Group Corporate
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15 S P Setia Berhad Group CHAIRMAN
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17 S P Setia Berhad Group Group Man
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19 S P Setia Berhad Group GROUP MAN
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21 S P Setia Berhad Group Setia Ala
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23 S P Setia Berhad Group REVIEW OF
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25 S P Setia Berhad Group REVIEW OF
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29 S P Setia Berhad Group World Env
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39 S P Setia Berhad Group Executive
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41 S P Setia Berhad Group 50% Green
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43 S P Setia Berhad Group Profile o
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45 S P Setia Berhad Group PROFILE O
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47 S P Setia Berhad Group PROFILE O
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57 S P Setia Berhad Group Audit Com
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OneMind : SP SETIA 08AR: 4rd Draft
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S P SETIA BERHAD (19698-X) (Incorpo
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group directory HEAD OFFICE S P SET
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Change - S P Setia Berhad

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