2001 Annual Report - Kian Joo Can

NOTES TO THE FINANCIAL STAT E M E N T S
31 December 2001 ( c o n t ’ d )
15. RESERVES (cont’d)
Note
(a)
The capital reserve arose as a result of capitalisation of retained profit and revaluation reserve for bonus issue
by a subsidiary company, Box-Pak (Malaysia) Berhad, in 1996.
(b)
Retained Profit
Group
Company
2001 2000 2001 2000
RM'000 RM'000 RM'000 RM'000
At 1 January 392,326 379,929 127,608 112,192
Retained profit for the year 18,611 12,397 11,357 15,416
At 31 December 410,937 392,326 138,965 127,608
Based on estimated tax credits and tax exempt income available, approximately RM61,264,000
(2000: RM51,540,000) of the retained profit of the Company is available for distribution by way of dividends
without incurring additional tax liability. Any distribution in excess of this amount will attract tax charge at the
prevailing statutory tax rate, subject to agreement by the Inland Revenue Board.
16. TERM LOANS (UNSECURED)
Group
Company
2001 2000 2001 2000
RM'000 RM'000 RM'000 RM'000
Term loan I at 0.5% above the bank's base
lending rate repayable by sixty monthly
instalments commencing
1 March 2001 - 8,330 - -
Term loan II at 0.5% above the bank's base
lending rate repayable by sixty monthly
instalments commencing 1 July 2001 - 71,314 - -
Term loan III at 6.30% repayable
by bullet repayment on
20 September 2003 50,000 50,000 50,000 50,000
Term loan IV at 5.00% repayable
by bullet repayment on
12 December 2004 40,000 - 40,000 -
Term loan V at 5.50% repayable
by bullet repayment on
12 December 2005 30,000 - 30,000 -
120,000 129,644 120,000 50,000
Less : Amounts repayable within 12 months
- current portion (Note 13) - (9,135) - -
120,000 120,509 120,000 50,000
KIAN JOO CAN FACTORY BERHAD (3186-P)
2001 / Annual Report . 49