The Case Study - Seylan Bank

184Seylan Bank PLC Annual Report 2009Notes to the Consolidated Financial Statements21. Lease Rentals Receivable Later Than One Yearand not later than five yearsBANKGROUP2009 2008 2009 2008(Restated)Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000From the Balance Sheet Date (Note 21.a) 1,606,273 3,257,487 1,606,273 4,587,676Less: Unearned Income (280,381) (570,963) (280,381) (795,400)1,325,892 2,686,524 1,325,892 3,792,27621.a Lease Rentals Receivable 1,787,491 3,382,025 1,787,491 4,712,214Less: Deposit of Rentals (181,218) (124,538) (181,218) (124,538)1,606,273 3,257,487 1,606,273 4,587,67622. Lease Rentals Receivable Later Than Five YearsFrom the Balance Sheet Date (22.a) 1,971 4,029 1,971 11,106Less: Unearned Income (77) (216) (77) (1,179)1,894 3,813 1,894 9,927Less: Loan Loss Provision (Note 19.a) – – – –Interest in Suspense (Note 19.a) – – – –1,894 3,813 1,894 9,92722.a Lease Rentals Receivable 1,971 4,029 1,971 11,106Less: Deposits of Rentals – – – –23. INVESTMENTS IN SUBSIDIARIES - BANKQuoted - Ordinary Shares& DebenturesSeylan Merchant Bank PLC(Note 23.1)Seylan Developments PLCPrincipalActivity1,971 4,029 1,971 11,106Number ofShares%HoldingCost as at31.12.2009MarketValue as at31.12.2009Number ofShares%HoldingCost as at31.12.2008MarketValue as at31.12.200831.12.2009 Rs. ’000 Rs. ’000 31.12.2008 Rs. ’000 Rs. ’000MerchantBanking – – – – 23,071,066 42.88 260,919 69,213PropertyDevelopment 37,203,584 50.29 358,916 353,434 37,203,584 51.01 358,916 148,814DebenturesSeylan Merchant Bank PLC(50 Mn. - 14%, 60 Mn. -12.75%, 18.724 Mn. - 16%) – 100.00 128,724 –Less: Loss on ImpairmentSeylan MerchantBank PLC - Shares – – (172,556) –Seylan MerchantBank PLC - Debentures – – (128,724) –358,916 353,434 447,279 218,027