Change - S P Setia Berhad

115
S P Setia Berhad Group
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2008
20. AMOUNTS OWING BY JOINTLY CONTROLLED ENTITIES
The amounts owing by jointly controlled entities included under current assets represent unsecured advances which are repayable
on demand and are analysed as follows:
Group
Company
2008 2007 2008 2007
RM’000 RM’000 RM’000 RM’000
Bearing interest at 8.75% (2007 : 8.75%) per annum 4,232 504 14,106 1,679
Interest free 800 – 12,614 28,700
5,032 504 26,720 30,379
21. OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS
Group
Company
2008 2007 2008 2007
RM’000 RM’000 RM’000 RM’000
Refundable deposit and part purchase consideration
paid for the acquisition of development land in
– Mukim of Pulai, District of Johor Bahru – 22,729 – –
– Mukim of Dengkil, District of Sepang – 19,060 – –
– Mukim 10 and 12, District of Barat Daya 6,788 – – –
– Bandar and Daerah Kuala Lumpur 1,609 603 – –
Development expenditure 1,146 13,315 – –
Refundable deposit received for Agreement to
Lease placed with a stakeholder (see note 31) – 3,510 – –
Compensation paid to squatters (see note 53(a)) 3,600 3,600 – –
Refundable deposit placed with stakeholder for
impending acquisition of development land – 3,882 – –
Dividend from unquoted preference shares
in an associated company – 3,980 – 3,980
Other sundry receivables, deposits and prepayments 34,421 22,852 6,027 10,382
47,564 93,531 6,027 14,362
Allowance for doubtful debts (1,477) (1,264) – –
46,087 92,267 6,027 14,362
The refundable deposit of RM6,788,000 is paid for the acquisition of 3 pieces of freehold land in Mukim 10 and 12, District of
Barat Daya, for a total cash consideration of RM67,867,000 pursuant to a conditional Sale and Purchase Agreement entered into
by Kewira Jaya Sdn Bhd, a wholly-owned subsidiary company, on 22 August 2008. The acquisition has not been completed as
at 31 October 2008. The balance of the purchase consideration is disclosed as a capital commitment in note 49 below.