2003 - KNM Steel Sdn Bhd

KNM GROUP BERHAD (521348-H)BALANCE SHEETSAT 31 DECEMBER 2003GroupCompanyNote 2003 2003 2002RM’000 RM’000 RM’000Property, plant and equipment 2 82,831 – –Investments in subsidiaries 3 – 34,686 –Amount due from subsidiaries 5 – 18,588 –Current Assets82,831 53,274 –Inventories 6 6,490 – –Trade and other receivables 7 79,397 3,001 –Cash and cash equivalents 8 4,942 43 –90,829 3,044 –Current LiabilitiesTrade and other payables 9 8,090 132 8Borrowings (secured) 10 63,514 – –Taxation 4,184 15 –75,788 147 8Net Current Assets/(Liabilities) 15,041 2,897 (8)97,872 56,171 (8)Financed /(Represented) by:Capital and ReservesShare capital 11 44,000 44,000 –Reserves 34,955 12,171 (8)Long Term and Deferred Liabilities78,955 56,171 (8)Borrowings (secured) 10 13,500 – –Deferred taxation 13 5,417 – –18,917 – –97,872 56,171 (8)The financial statements were approved and authorised for issue by the Board of Directors on 23 March 2004.The notes set out on pages 37 to 57 form an integral part of, and should be read in conjunction with, these financialstatements.322003 ANNUAL REPORT