Pg 147 - Berjaya Corporation Berhad

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Berjaya Land Berhad (201765-A) 84 Annual Report 2005 Notes To The Financial Statements 30 April 2005 34 CONTINGENT ASSET AND LIABILITIES Contingent Asset Group 2005 2004 RM’000 RM’000 Estimated liquidated ascertained damages (“LAD”) receivable on late delivery of vacant possession in respect of properties - 44,440 The contingent asset of LAD was settled during the year whereby a certain quantum of quoted shares of an associated company was received and the quoted shares are accounted for as part of the investment in associated company as disclosed in Note 39(6) to the financial statements. Contingent Liabilities Group Company 2005 2004 2005 2004 RM’000 RM’000 RM’000 RM’000 Unsecured: Guarantees given to financial institutions for credit facilities granted to: - subsidiary companies - - 302,710 342,904 - related companies 24,699 24,699 24,699 24,699 24,699 24,699 327,409 367,603 The guarantees were given to financial institutions for credit facilities granted to related companies before the inception of the Revamped Listing Requirements of Bursa Malaysia Securities Berhad. 35 COMMITMENTS (a) Other Commitments Group Company 2005 2004 2005 2004 RM’000 RM’000 RM’000 RM’000 Capital Expenditure: - approved and contracted 75,968 92,503 - - Incremental holding costs in respect of put option on ICULS 1999/2009 (Note 22) 124,642 - 124,642 - 200,610 92,503 124,642 - Details of significant commitments for acquisition of properties and investments are included in Notes 39 and 40 to the financial statements.
Berjaya Land Berhad (201765-A) Annual Report 2005 85 35 COMMITMENTS (CONT’D) (b) Non-Cancellable Operating Lease Commitments - Group and Company as Lessees Group Company 2005 2004 2005 2004 RM’000 RM’000 RM’000 RM’000 Future minimum rental payable: Not later than 1 year 101 69 1,352 828 Later than 1 year and not later than 5 years 70 78 - - 171 147 1,352 828 The Group and the Company entered into operating leases which represent rental payable for the use of buildings. Leases are negotiated for a period of between 1 and 3 years and rentals fixed for between 1 and 3 years. (c) Non-Cancellable Operating Lease Commitments - Group as Lessor Group 2005 2004 RM’000 RM’000 Future minimum rental receivable: Not later than 1 year 34,022 28,675 Later than 1 year and not later than 5 years 27,549 13,742 61,571 42,417 The Group entered into commercial property leases on its investment properties portfolio consisting of commercial and office space. These leases have remaining non-cancellable lease terms of between 1 and 3 years. 36 SIGNIFICANT RELATED PARTY TRANSACTIONS Group Company 2005 2004 2005 2004 RM’000 RM’000 RM’000 RM’000 Repayment/(Advances) given to: - subsidiary companies - - (30,618) (2,708) - ultimate holding company a 17,303 (25,709) 20,082 (20,659) - related companies b (10,510) (52,653) 3,224 (21,979) Repayment from/(to): - subsidiary companies - - 348,743 56,513 - associated company c (272,577) (200,345) (272,524) (200,345) Progress payments in connection with the acquisition of properties made to Berjaya Times Square Sdn Bhd d - 21,661 - - Share administration fees income receivable from: - Berjaya Capital Berhad b (658) (576) (329) (240) - Berjaya Group Berhad (“BGB”) a (492) (785) (278) (470)
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Pg 147 - Berjaya Corporation Berhad

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