Pg 147 - Berjaya Corporation Berhad

Berjaya Land Berhad (201765-A)
66
Annual Report 2005
Notes To The Financial Statements
30 April 2005
13 RECEIVABLES
Group
Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Trade receivables 183,914 191,740 - -
Other receivables 143,892 110,203 4,128 5,454
Accrued billings in respect of property development costs 13,710 24 - -
Deposits 25,846 12,971 175 168
Prepayments 31,396 29,326 - -
Dividend receivable 4,118 59,016 1,395 23,471
Amount owing by:
- related companies 135,994 127,662 42,735 43,180
- subsidiary companies - - 2,592,551 2,847,132
- associated companies 91,653 128,206 555 555
630,523 659,148 2,641,539 2,919,960
Provision for doubtful debts:
- trade receivables (20,841) (31,338) - -
- other receivables (2,059) (3,121) (175) (175)
- associated company (90,858) (50,000) - -
- subsidiary companies - - (114,423) (114,423)
(113,758) (84,459) (114,598) (114,598)
516,765 574,689 2,526,941 2,805,362
The Group’s normal trade credit term ranges from 30 to 60 (2004 : 30 to 60) days. Other credit terms are assessed and approved on
a case-by-case basis.
Included in other receivables of the Group are:
(i)
(ii)
RM298,000 (2004 : RM328,000) which represents housing loans granted to certain Directors of subsidiary companies;
RM9,019,000 (2004 : RM9,019,000) made to the Inland Revenue Board (“IRB”) relating to the additional tax assessment of a
subsidiary company for Years of Assessment 1990 to 1995. The additional assessment arose as a result of the different treatment
of income from golf club activities by IRB. The Directors of the subsidiary company are of the opinion that the company concerned
is not liable to the additional tax liability and the amount paid would therefore be refundable pending a successful appeal made to the
IRB; and
(iii) RM107,226,000 (2004 : RM54,841,000) which represents the excess of put option price over the nominal value of ICULS 1999/
2009 which was exercised by several financial institutions up to 30 April 2005 that were purchased by a subsidiary company. BGB
has undertaken to indemnify the Company as disclosed in Notes 22 and 39(10) to the financial statements.