Annual Report - Bina Puri

Notes to and Forming Part of the Financial Statements (Cont’d)
27. BANK BORROWINGS (Cont’d)
The effective interest rates per annum of the bank borrowings are between 4.88% and 10.25% (2007 : 3.40% and
9.25%) for the Group and between 4.89 % and 8.25% (2007 : 5.12% and 8.50%) for the Company.
The bank borrowings are secured by the following:
- Fixed charges over those charged property, plant and equipment and prepaid lease payments referred to in
Notes 3 and 4 and floating charges over the entire assets of certain subsidiaries,
- A negative pledge over the assets of the Company,
- Deeds of assignment over the proceeds of contracts awarded to the Group.
The unsecured bank borrowings are guaranteed by the Company.
28. GROSS REVENUE
Group
Company
2008 2007 2008 2007
RM'000 RM'000 RM'000 RM'000
Contract revenue 529,724 443,969 35,352 23,032
Sale of goods 94,696 115,882 – –
Property development revenue from sale of
development units 46,948 35,625 2,219 8,135
Management fees 5,174 12,393 14,683 16,637
676,542 607,869 52,254 47,804
29. COST OF SALES
Group
Company
2008 2007 2008 2007
RM'000 RM'000 RM'000 RM'000
Contract costs 504,188 430,455 35,089 20,932
Cost of goods sold 77,975 100,133 – –
Property development costs relating to development
units sold 42,514 33,186 533 5,894
624,677 563,774 35,622 26,826
96 BINA PURI HOLDINGS BHD
Annual Report 2008