2003 - KNM Steel Sdn Bhd

KNM GROUP BERHAD (521348-H)NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 20037.3 SubsidiaryThe amount due from subsidiary is non-trade related, unsecured, interest free and has no fixed terms ofrepayment.7.4 Other receivables, deposits and prepaymentsIncluded in other receivables, deposits and prepayments of the Group is rental deposit for building ofRM165,000 paid to the holding company.8. CASH AND CASH EQUIVALENTSGroupCompany2003 2003 2002RM’000 RM’000 RM’000Cash and bank balances 2,080 43 –Deposits with licensed banks 2,862 – –4,942 43 –Deposits of the Group amounting to RM50,000 are placed with licensed banks as security for credit facilitiesgranted to a subsidiary.9. TRADE AND OTHER PAYABLESGroupCompany2003 2003 2002RM’000 RM’000 RM’000Trade payables 5,750 – –Other payables and accrued expenses 2,340 132 88,090 132 810. BORROWINGS (SECURED)Group2003RM’000Current:Bank overdrafts 15,865Bills payable 40,173Hire purchase liabilities 2,013Term loan 5,46363,514Non-current:Hire purchase liabilities 2,448Term loan 11,05213,50077,0142003 ANNUAL REPORT45