Pg 147 - Berjaya Corporation Berhad

notes to thefinancial statements30 April 200617 SHORT TERM BORROWINGSGroupCompany2006 2005 2006 2005RM’000 RM’000 RM’000 RM’000Revolving credit facilities- secured 543,163 516,263 497,503 490,103Bank overdrafts- secured 40,643 52,725 20,819 31,563- unsecured 3,155 4,336 - -43,798 57,061 20,819 31,563Short term loans - secured 290,402 245,734 285,675 225,734877,363 819,058 803,997 747,400Current portion of long term loans (Note 23) 82,609 36,910 - -959,972 855,968 803,997 747,400The secured portion of the borrowings is secured by certain quoted and unquoted investments and properties of the Company, itssubsidiary and related companies of an aggregate asset value of RM2,975,780,000 (2005: RM3,077,723,000) as mentioned in Notes3, 4, 5, 7, 8, 10, 11, 14 and 15 to the financial statements.The borrowings bear interest at rates ranging from 2.50% to 10.00% (2005: 3.50% to 10.50%) per annum for the Group and from3.70% to 9.28% (2005: 3.50% to 10.50%) per annum for the Company.18 RETIREMENT BENEFIT OBLIGATIONSGroup2006 2005RM’000 RM’000At 1 May 2005/2004 1,701 2,751Additional provision during the year 279 261Utilisation of provision during the year (59) (4)Unused amount reversed during the year - (1,307)At 30 April 2006/2005 1,921 1,701Analysed as follows:Current 74 70Non-Current 1,847 1,6311,921 1,701Certain subsidiary companies operate unfunded, defined retirement benefit schemes and provision is made at contracted ratesfor benefits that would become payable on retirement of eligible employees. Under the scheme, eligible employees are entitled toretirement benefits varying between 18 days and 52 days per year of final salary on attainment of the retirement age of 55.The amounts recognised in the balance sheet are determined based on the present value of unfunded defined benefit obligations.70Annual Report 2006Berjaya Land Berhad (201765-A)