Contents - Genting Group

GENTING BERHAD • Annual Report 2001
10. TAXATION (Cont'd)
The effective tax rate of the Group for the current financial year is higher than the statutory tax rate mainly due to nondeductibility
of expenses for tax purposes such as charges relating to investments, tax losses of certain subsidiary companies,
disallowable finance costs and other operating expenses as well as losses incurred in the Oil & Gas Division arising from
exploration costs written off.
The taxation charge of the Company for the current financial year as well as the previous financial year reflects approximately
the statutory tax rate.
Subject to agreement by the Inland Revenue Board, the amount of unutilised tax losses of subsidiary companies available
for which the related tax effects have not been recognised in the net income amounted to RM87.6 million as at the financial
year end (2000: RM86.8 million). The amount of tax saving for which credit is recognised during the financial year is RM3.2
million (2000: RM0.3 million).
Subject to agreement by the Inland Revenue Board, the Group has investment tax allowance of approximately RM1,174.6
million (2000: RM554.8 million) which is available for set off against future taxable profits of the Group.
11. DIVIDENDS
2001 2000
Interim paid - 6.5 sen less 28% tax
[2000 - 6.5 sen less 28% tax] per ordinary share of 50 sen each 32.9 32.9
Proposed final - 12.5 sen less 28% tax
[2000 - 12.5 sen less 28% tax] per ordinary share of 50 sen each 63.4 63.4
96.3 96.3
12. PROPERTY, PLANT AND EQUIPMENT
Long Freehold Leasehold Plant,
Freehold leasehold Short buildings buildings equipment Construction
2001 land and land and leasehold and and and in
Group plantations plantations land improvements improvements vehicles progress Total
At cost/valuation:
Beginning of the
financial year 409.0 324.7 - 2,306.9 209.5 1,873.6 525.1 5,648.8
Additions 7.3 82.6 - 1.6 4.7 107.9 590.9 795.0
Disposals (1.9) (0.1) - - - (6.8) - (8.8)
Written off - - - (1.9) (2.0) (4.6) - (8.5)
Assets of companies
acquired - 1.6 - - - - - 1.6
Reclassifications/transfers 1.4 44.3 - 532.4 1.9 277.6 (857.2) 0.4
Currency fluctuations - - - (0.2) - (1.9) - (2.1)
Others - 0.1 - (1.0) - (0.7) 2.4 0.8
End of the financial year 415.8 453.2 - 2,837.8 214.1 2,245.1 261.2 6,427.2
Accumulated depreciation:
Beginning of the
financial year - (15.9) - (328.5) (18.2) (1,091.3) - (1,453.9)
Charge for the financial year - (3.3) - (61.3) (5.9) (194.4) - (264.9)
Disposals - - - - - 5.2 - 5.2
Written off - - - 1.7 0.4 3.6 - 5.7
Assets of companies
acquired - - - - - - - -
Reclassifications/transfers - - - - (0.4) - - (0.4)
Currency fluctuations - - - - - 1.7 - 1.7
Others - - - - - 0.8 - 0.8
End of the financial year - (19.2) - (388.1) (24.1) (1,274.4) - (1,705.8)
Net book value at end of
the financial year 415.8 434.0 - 2,449.7 190.0 970.7 261.2 4,721.4
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