Pg 147 - Berjaya Corporation Berhad

Berjaya Land Berhad (201765-A)
68
Annual Report 2005
Notes To The Financial Statements
30 April 2005
16 PAYABLES (CONT’D)
Group
Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Balance brought forward 380,936 314,169 29,060 29,522
Amount owing to:
- subsidiary companies - - 105,717 116,670
- associated company 692,922 - 316,915 -
- related companies 4,539 6,711 752 644
1,078,397 320,880 452,444 146,836
The normal trade credit terms granted to the Group range from 30 to 90 (2004 : 30 to 90) days.
Approximately RM15,900,000 (2004 : RM15,381,000) and RM77,000 (2004 : RM77,000) included in the hire purchase and lease
creditors of the Group and of the Company respectively represent amounts owing to a related company. The hire purchase and lease
liabilities bear interest at rates ranging from 3.65% to 12.75% (2004 : 3.45% to 12.50%) per annum.
Approximately RM46,264,000 (2004 : RM4,786,000) and RM2,102,000 (2004 : RM2,102,000) included in the other payables of the
Group represent margin facilities bearing interest at rates ranging from 7.5% to 10.0% per annum, obtained by the Group, and
advances from certain Directors of subsidiary companies respectively.
The amounts owing to subsidiary, associated and related companies are unsecured, interest bearing and have no fixed terms of
repayment.
The amount owing to an associated company refers to the amount owing by the Group to BToto. The Company had given BToto an
undertaking to settle the amount owing to BToto within three years from the date of the issue of BToto ICULS on 5 August 2002. As
disclosed in Notes 39(3), 39(4) and 39(9) to the financial statements, the Company has on aggregate repaid BToto RM270 million arising
from the conversion of BToto ICULS into BToto shares in the current financial year.
On 10 August 2005, the Company announced that, pursuant to a request by the Company to BToto for an extension of time by another
one year to 4 August 2006 to settle in full the amount owing to BToto, BToto has agreed to grant the extension of time requested by the
Company.
17 SHORT TERM BORROWINGS
Group
Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Revolving credit facilities
- secured 516,263 177,715 490,103 150,554
Bank overdrafts
- secured 52,725 80,042 31,563 52,191
- unsecured 4,336 5,862 - -
57,061 85,904 31,563 52,191
Short term loans - secured 245,734 51,454 225,734 50,000
819,058 315,073 747,400 252,745
Current portion of long term loans (Note 23) 36,910 124,786 - -
855,968 439,859 747,400 252,745