2003 - KNM Steel Sdn Bhd

KNM GROUP BERHAD (521348-H)NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 200310.5 Hire purchase liabilitiesHire purchase liabilities are subject to interest at rates ranging from 3.80% to 4.55% per annum.Hire purchase liabilities are payable as follows:Group2003RM’000Payments Interest PrincipalLess than one year 2,304 291 2,013Between one andfive years 2,663 215 2,4484,967 506 4,46111. SHARE CAPITALGroup and Company2003 2002RM’000 RM’000Authorised:Ordinary shares of RM1 eachAt 1 January 100 100Increased during the year 49,900 –At 31 December 50,000 100Issued and fully paid:Ordinary shares of RM1 eachAt 1 January – * – *Issued during the year pursuant to:- Acquisition of a subsidiary 28,253 –- Rights issue 4,667 –- Private placement 4,400 –- Public issue 6,680 –At 31 December 44,000 – ** Comprised 2 ordinary shares of RM1.00 each.12. RETAINED PROFITS (DISTRIBUTABLE)Subject to agreement by the Inland Revenue Board, the Company has sufficient tax exempt income to frank all ofits retained profits at 31 December 2003 if paid out as dividends.2003 ANNUAL REPORT47