2003 - KNM Steel Sdn Bhd
2003 - KNM Steel Sdn Bhd
2003 - KNM Steel Sdn Bhd
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<strong>KNM</strong> GROUP BERHAD (521348-H)NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER <strong>2003</strong>4. INVESTMENTS IN ASSOCIATESGroup<strong>2003</strong>RM’000Unquoted shares - at cost –The associates, all of which are incorporated in Malaysia, are as follows:EffectiveOwnershipInterestName of Company Principal Activities <strong>2003</strong><strong>KNM</strong>-DP Fabricators <strong>Sdn</strong>. <strong>Bhd</strong>. Fabrication and maintenance of 28%process equipment, storage tanks,modular assemblies and steelstructural components for oil, gasand petrochemical industriesSubsidiary of <strong>KNM</strong>-DP Fabricators <strong>Sdn</strong>. <strong>Bhd</strong>.<strong>KNM</strong>-DP Harta Bina <strong>Sdn</strong>. <strong>Bhd</strong>. Dormant 65%The Group’s share of the cumulative losses of <strong>KNM</strong>-DP Fabricators <strong>Sdn</strong>. <strong>Bhd</strong>. and its subsidiary, <strong>KNM</strong>-DP HartaBina <strong>Sdn</strong>. <strong>Bhd</strong>. amounting to RM42,000 has not been recognised in the Group’s income statement using equityaccounting because the Group’s share of losses of these associates exceeded the carrying amount of its investmentsin the associates.5. AMOUNT DUE FROM SUBSIDIARIESThe amount due from subsidiaries relates to advances, is unsecured, interest free and is not repayable within thenext twelve months except in so far as such repayment will not adversely affect the ability of the respectivecompanies to meet their liabilities when due.6. INVENTORIESGroup<strong>2003</strong>RM’000Raw materials 3,743Tools and consumables 2,7476,490<strong>2003</strong> ANNUAL REPORT43
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