Pg 147 - Berjaya Corporation Berhad

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eport ofthe auditorsto the members of Bejaya Land BerhadWe have audited the financial statements set out on pages 39 to 104. These financial statements are the responsibility of the Company’sDirectors.It is our responsibility to form an independent opinion, based on our audit, on the financial statements and to report our opinion to you,as a body, in accordance with Section 174 of the Companies Act, 1965 and for no other purpose. We do not assume responsibility toany other person for the contents of this report.We conducted our audit in accordance with applicable Approved Standards on Auditing in Malaysia. Those standards require that weplan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Anaudit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used and significant estimates made by the Directors, as well as evaluating the overallpresentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.In our opinion:(a) the financial statements have been properly drawn up in accordance with the provisions of the Companies Act, 1965 and applicableApproved Accounting Standards in Malaysia so as to give a true and fair view of:(i)the financial position of the Group and of the Company as at 30 April 2006 and of the results and the cash flows of the Groupand of the Company for the year then ended; and(ii)the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements; and(b) the accounting and other records and the registers required by the Act to be kept by the Company and by its subsidiary companiesof which we have acted as auditors have been properly kept in accordance with the provisions of the Act.We have considered the financial statements and the auditors’ reports thereon of the subsidiary companies of which we have not actedas auditors, as indicated in Note 40 to the financial statements, being financial statements that have been included in the consolidatedfinancial statements.We are satisfied that the financial statements of the subsidiary companies that have been consolidated with the financial statements ofthe Company are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial statementsand we have received satisfactory information and explanations required by us for those purposes.The auditors’ reports on the financial statements of the subsidiary companies were not subject to any qualification material to theconsolidated financial statements and did not include any comment required to be made under Section 174(3) of the Act.ERNST & YOUNGAF: 0039Chartered AccountantsYAP SENG CHONGNo. 2190/12/07(J)PartnerKuala Lumpur, Malaysia22 July 200638Annual Report 2006Berjaya Land Berhad (201765-A)
alancesheetsas at 30 April 2006GroupCompany2006 2005 2006 2005Note RM’000 RM’000 RM’000 RM’000NON-CURRENT ASSETSProperty, plant and equipment 3 1,602,961 1,567,876 2,797 1,137Investment properties 4 519,787 520,046 - -Land held for development 5 238,200 360,175 - -Subsidiary companies 6 - - 1,700,044 1,772,538Associated companies 7 1,520,106 1,625,794 387,080 454,919Investments 8 28,589 120,325 5,958 51,604Deferred tax assets 24 731 755 - -Intangible assets 9 6,138 20,842 - -3,916,512 4,215,813 2,095,879 2,280,198CURRENT ASSETSProperty development costs 10 276,641 278,673 - -Inventories 11 94,229 48,086 - -Amount due from penultimate holding company 12 81,059 1,645,616 - 1,276,581Receivables 13 559,418 516,765 2,033,280 2,526,941Tax recoverable 44,456 20,382 17,638 3,138Deposits 14 34,505 47,903 9,333 13,370Cash and bank balances 15 128,680 157,131 40 5991,218,988 2,714,556 2,060,291 3,820,629CURRENT LIABILITIESPayables 16 967,262 1,078,397 283,107 452,444Short term borrowings 17 959,972 855,968 803,997 747,400Retirement benefit obligations 18 74 70 - -Taxation 7,568 5,965 - -1,934,876 1,940,400 1,087,104 1,199,844NET CURRENT (LIABILITIES)/ASSETS (715,888) 774,156 973,187 2,620,7853,200,624 4,989,969 3,069,066 4,900,983FINANCED BY:Share capital 19 895,423 868,077 895,423 868,077Share premium 20 57,529 934,686 57,529 934,686Reserves 21 876,378 1,720,202 899,391 1,878,438Shareholders’ equity 1,829,330 3,522,965 1,852,343 3,681,201Minority interests 71,998 73,643 - -Capital funds 1,901,328 3,596,608 1,852,343 3,681,2015% IrredeemableConvertible Unsecured Loan Stocks 22 310,359 434,538 852,430 893,005Retirement benefit obligations 18 1,847 1,631 - -Long term liabilities 23 853,026 829,979 364,293 326,275Deferred tax liabilities 24 134,064 127,213 - 5023,200,624 4,989,969 3,069,066 4,900,983The accompanying notes form an integral part of these financial statements.Berjaya Land Berhad (201765-A) Annual Report 200639
Page 2 and 3: The corporate logo comprises the wo
Page 4 and 5: corporateinformationBOARD OF DIRECT
Page 6 and 7: profile ofdirectorsDATO’ ROBIN TA
Page 8 and 9: profile ofdirectorsKHOO WEI TONG @
Page 10 and 11: profile ofdirectorsDR. RAMACHANDRAN
Page 12 and 13: chairman’sstatementiv.On 23 Decem
Page 14 and 15: ceo’s reviewof operationsSun soak
Page 16 and 17: ceo’s reviewof operationsKL Plaza
Page 18 and 19: ceo’s reviewof operationsOn the w
Page 20 and 21: BERJAYA Land BERHADVacation Timesha
Page 22 and 23: group financialsummaryDescription 2
Page 24 and 25: audit committeereportThe Board of D
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Page 28 and 29: statement oncorporate governance(iv
Page 30 and 31: statement oninternal controlRespons
Page 32 and 33: financialstatements31 Directors’
Page 34 and 35: directors’reportDIRECTORSThe name
Page 36 and 37: directors’reportDIRECTORS’ INTE
Page 38 and 39: directors’reportOTHER STATUTORY I
Page 42 and 43: incomestatementsfor the year ended
Page 44 and 45: statement ofchanges in equityfor th
Page 46 and 47: consolidatedcash flow statementfor
Page 48 and 49: cash flowstatementfor the year ende
Page 50 and 51: notes to thefinancial statements30
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notes to thefinancial statements30
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list ofpropertiesas at 30 April 200
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materialcontractsOther than as disc
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groupaddressesArena Green Apartment
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ecurrent related partytransactions
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statistics on shares andconvertible
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statistics on shares andconvertible
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notice ofannual general meetingNOTI
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statement accompanyingnotice of ann
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Fold this flap for sealingAffix Sta
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Pg 147 - Berjaya Corporation Berhad

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