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TNB Financial Report 2002
66
Notes to the Financial Statements (Continued)
– 31 August 2002
34. Contingent Liabilities (Unsecured)
Group
Company
2002 2001 2002 2001
RM’million RM’million RM’million RM’million
Claims by third parties 1,010.0 618.6 938.6 583.4
Trade guarantees and performance bonds 10.2 24.5 0 0
Corporate guarantees given to financial institutions
in respect of facilities granted to subsidiaries 0 0 2,418.0 2,118.0
Stamp duties on transfer of assets to a subsidiary company 108.0 108.0 0 0
Other contingencies 61.7 61.9 0 0
1,189.9 813.0 3,356.6 2,701.4
Claims by third parties include claims by contractors, consultants, consumers and former employees. These claims are being resolved and the
Directors are of the opinion that their outcome will not have a material adverse effect on the financial positions of the Group and Company.
In respect of stamp duties on transfer of assets from Lembaga Letrik Sabah, Sabah Electricity Sdn Bhd is in the process of obtaining a vesting
order to exempt itself from any potential liability.
35. Significant Related Party Disclosures
In addition to related party balances mentioned elsewhere in the financial statements, set out below are other significant related party transactions
which were carried out on terms and conditions negotiated amongst the related parties:
Group
2002 2001
RM’million RM’million
(a) Sales of electricity to associates 24.7 24.4
(b) Purchases of electricity from associates 2,527.1 2,469.0
Sales and purchases of electricity to and from associates are aggregated because
the transactions are similar in nature and no single transaction
is significant enough to warrant separate disclosure
(c)
Interest income received from associates:
– Port Dickson Power Berhad 3.6 4.8
– Segari Energy Ventures Sdn Bhd 10.5 11.4
36. Segmental Reporting
As the principal business of the Group is the generation and supply of electricity in Malaysia, segmental reporting is deemed not necessary.