2001 Annual Report - Kian Joo Can

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NOTES TO THE FINANCIAL STAT E M E N T S 31 December 2001 ( c o n t ’ d ) 19. PROFIT FROM OPERATIONS Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 This is arrived at after charging:- Directors' emolument payable to directors of - holding company 3,142 2,869 1,171 1,122 - subsidiary companies who are not directors of the holding company 741 833 - - Directors' fees payable to directors of - holding company 272 247 205 185 - subsidiary companies who are not directors of the holding company 55 55 - - Directors' benefits in kind payable to directors of subsidiary companies who are not directors of the holding company - 9 - - Auditors' remuneration - audit fee 153 147 38 38 - non audit fee 2 32 - 30 - underprovision in prior year's audit fee 4 13 - 6 Rental on - buildings 448 470 34 49 - machinery 734 882 273 298 Provision for doubtful debts 103 627 103 - Provision for retirement benefits (Note (a)) 261 5,875 128 3,457 Inventories written down 988 2,052 513 194 Bad debts written off 318 193 90 192 Foreign exchange loss - realised 178 47 - - unrealised 56 - - - Provision for sludge disposal 701 1,190 - - Property, plant and equipment written off 55 - - - and crediting :- Gain on disposal of property, plant and equipment 895 276 57 172 Gain on disposal of investment in an associated company 728 843 728 3,061 Dividend income - from quoted subsidiary company - - 4,388 4,388 - from unquoted subsidiary companies - - 21,146 21,146 - from associated company - - 1,000 - Interest income 2,366 1,841 1,306 980 Rental receivable 2,266 2,267 796 807 Inventories written back 1,202 - 194 - Recovery of bad debt written off 833 92 - - Realised exchange gain 210 293 163 152 Note (a) Included in provision for retirement benefits is amount payable to Directors of RM Nil (2000 : RM4,884,000) for the Group and RM Nil (2000 : RM3,071,000) for the Company. KIAN JOO CAN FACTORY BERHAD (3186-P) 2001 / Annual Report . 51
NOTES TO THE FINANCIAL STAT E M E N T S 31 December 2001 ( c o n t ’ d ) 20. FINANCE COSTS Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 Interest on:- - term loans 8,804 7,238 3,350 880 - bank overdrafts 497 429 32 81 - bankers' acceptances and trust receipts 1,017 916 48 - - others 3 59 - - 10,321 8,642 3,430 961 21. TAXATION Group Company 2001 2000 2001 2000 RM'000 RM'000 RM'000 RM'000 Taxation based on results for the year: Malaysian taxation - current year 9,246 12,970 356 1,525 - deferred taxation (Note 17) 2,831 (2,079) 892 (1,596) 12,077 10,891 1,248 (71) Share of taxation of associated company 1,293 915 - - 13,370 11,806 1,248 (71) Overprovision in prior years (3,018) (781) (689) - 10,352 11,025 559 (71) The effective tax rate of the Group is lower than the statutory tax rate mainly due to certain tax incentive being claimed for tax purposes and utilisation of unabsorbed capital allowances by certain subsidiary companies. Tax saving arising from such utilisation amounted to approximately RM3,192,000. The effective tax rate of the Company is lower than the statutory tax rate mainly due to certain dividend income being tax exempt and certain tax incentive being claimed. As at 31 December 2001, unutilised reinvestment allowances, unabsorbed capital allowances and unutilised tax losses of the Group amounted to approximately RM21,729,000 (2000: RM4,933,000), RM58,647,000 (2000: RM12,446,000) and RM23,255,000 (2000: RM17,604,000) respectively, which are available for set-off against future taxable income subject to agreement of the Inland Revenue Board. 22. EARNINGS PER SHARE (a) (b) The basic earnings per share is calculated by dividing the Group's profit after taxation and minority interest of RM30,183,000 (2000: RM23,969,000) by the weighted average number of ordinary shares in issue during the year of 115,720,117 (2000: 115,720,117). The fully diluted earnings per ordinary share for the financial year ended 31 December 2001 is not disclosed as the effect arising from the possible exercise of warrants is anti-dilutive. As at 31 December 2001, the Company has 15,379,029 (2000: 15,379,029) warrants which remained unexercised. The warrants shall expire on 22 May 2002. 52 . Annual Report / 2001 KIAN JOO CAN FACTORY BERHAD (3186-P)
Page 1 and 2: (Incorporated In Malaysia) (3186-P)
Page 3 and 4: NOTICE OF Annual General Meeting NO
Page 5 and 6: CORPORATE Information DIRECTORS Y.A
Page 7 and 8: FIVE YEAR Financial Highlights 2001
Page 9 and 10: PROFILE OF Directors YAM TUNKU NAQU
Page 11 and 12: PROFILE OF Directors (Cont’d) SEE
Page 13 and 14: Corporate Governance Statement (Con
Page 15 and 16: Corporate Governance Statement (Con
Page 17 and 18: AUDIT COMMITTEE Report MEMBERSHIPS
Page 19 and 20: AUDIT COMMITTEE Report (Cont’d) S
Page 21 and 22: CHAIRMAN’S Statement (Cont’d) G
Page 23 and 24: D I R E C T O R S ’ R e p o r t T
Page 25 and 26: D I R E C T O R S ’ R e p o r t (
Page 27 and 28: D I R E C T O R S ’ R e p o rt (
Page 29 and 30: STATEMENT BY DIRECTORS Pursuant to
Page 31 and 32: BALANCE SHEETS as at 31 December 20
Page 33 and 34: CONSOLIDATED STATEMENT OF CHANGES I
Page 35 and 36: C O N S O L I D ATED CASH FLOW STAT
Page 37 and 38: CASH FLOW STAT E M E N T for the ye
Page 39 and 40: NOTES TO THE FINANCIAL STAT E M E N
Page 51: NOTES TO THE FINANCIAL STAT E M E N
Page 59 and 60: LIST OF PROPERT I E S as at 31 Dece
Page 61 and 62: A N A LYSIS OF SHAREHOLDINGS as at
Page 63 and 64: D A I N R A E C LYSIS T O R S OF
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2001 Annual Report - Kian Joo Can

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