ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
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NOTES TO THE<br />
FINANCIAL STATEMENTS (CONT’D)<br />
12. Receivables, deposits and prepayments (CONT’D)<br />
12.2 Construction work-in-progress<br />
Group<br />
<strong>2008</strong> 2007<br />
RM’000 RM’000<br />
Aggregate costs incurred to date 2,537,880 1,762,700<br />
Add: Net attributable profits 772,796 449,974<br />
3,310,676 2,212,674<br />
Less: Progress billings (2,856,230) (1,901,041)<br />
454,446 311,633<br />
Amount due to contract customers (Note 17) 162,102 24,322<br />
Amount due from contract customers 616,548 335,955<br />
Additions to aggregate costs incurred during the year include:<br />
Group<br />
<strong>2008</strong> 2007<br />
RM’000 RM’000<br />
Depreciation of property, plant and equipment (Note 3.1) 32,516 23,397<br />
Hire of plant and machineries 10,828 6,061<br />
Interest expenses 369 9<br />
Rental of premises 8,356 6,375<br />
Rental of machineries 739 25<br />
Staff costs 127,536 64,513<br />
Interest in aggregate costs was capitalised at an average rate of 3.3% (2007 - 4.3%) per annum.<br />
12.3 Amount due from associates<br />
In the previous year, the amount due from associates is unsecured, interest free with no fixed terms of<br />
repayment.<br />
12.4 Amount due from subsidiaries<br />
The amount due from subsidiaries is unsecured, interest free with no fixed terms of repayment.<br />
12.5 Deposits<br />
Included in deposits of the Group is rental deposit for building of RM165,000 (2007 - RM165,000) paid<br />
to a company in which certain directors have financial interest.<br />
<strong>KNM</strong> GROUP BERHAD<br />
83<br />
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2008</strong>
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