2011 Annual Report - Cargills (Ceylon)

Annual Report 201165Notes to the financial statements contd...(c) Transactions with related companiesCompany 2011 2010Sales Other Purchases Other Sales Other Purchases Otherincome expenses income expensesRs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000 Rs. ‘ 000Transactions with subsidiariesCargills Retail (Pvt) Ltd - - - 64,950 - - - -Cargills Quality Foods Ltd. 1,819 1,437 340,011 - 1,385 - 297,607 -Cargills Distributors (Pvt) Ltd - 712 245,417 - - - 185,808 -Cargills Food Services (Pvt) Ltd 8,146 2,242 - - 902 4,771 - -Cargills Food Processors (Pvt) Ltd 9,108 10,310 - - - 7,794 - -Cargills Quality Dairies (Pvt) Ltd 2,312 3,289 668,079 - 892 - 600,431 -Cargills Agrifoods Ltd 6,922 3,455 290,514 - 3,687 - 254,357 -C P C (Lanka) Ltd 18,018 - 76,661 - - - 60,468 -Millers Ltd 35,002 28,278 357,240 18 24,286 20,637 398,895 18Diana Biscuits Manufactures (Pvt) Ltd 5,335 - 8,044 - - - - -Kotmale Dairy Products (Pvt) Ltd - - 50,499 - - - - -Transactions with holding companyC T Holdings PLC - - - - 72 - - -Transactions with other related companiesCeylon Hotels Corporation PLC 117 - - - 142 - - -Ceylon Printers PLC - - - 979 - - - 243Ceylon Theatres (Pvt) Ltd 31 - - - - - - -C T Capital Ltd - - - - - - - 347C T Land Development PLC - - - 23,846 16 - - 14,889Dialog Telekom PLC - 99,998 - - - 52,304 - 7,562Galle Face Hotel Co. Ltd 122 - - - 289 - - -Kalamazoo Systems PLC - - - - - - - 633Lanka Tiles PLC 714 - - 8,590 137 - - 2,000Lanka Walltile Meepe (Pvt) Ltd - - - 1,991 - - - 29Lanka Ceramics Ltd - - 1,258 22 - - 396 -Lanka Walltiles PLC - - - 704 - - - 4242011 2010Rs. ‘ 000 Rs. ‘ 000Dividend received from subsidiary companiesCargills Retail (Pvt) Ltd - 71,250Cargills Quality Foods Ltd 48,603 204,132Transfer of investmentCargills Quality Foods Ltd 1,037,785 -As at 31 March 2011, Cargills (Ceylon) PLC transferred the ownership of Kotmale Holdings PLC to its wholly owned subsidiaryCargills Quality Foods Limited. This transaction was done outside the trading floor of Colombo Stock Exchange consequent to aspecial approval from the Securities and Exchange Commission of Sri Lanka. The sales consideration amounted to Rs. 1,038 Mnand was accounted as intercompany receivable. As at the balance sheet date, the entire amount was due to the Company.Advance for funding investmentMillers Brewery Ltd 1,205,425 -Dawson Office Complex (Pvt) Ltd 249,599 -Cargills (Ceylon) PLC has advanced a sum of Rs. 1,205 Mn to Millers Brewery Limited to fund the purchase of assets. Thisamount is reflected as an intercompany receivable pending the issue of shares in Millers Brewery Limited.Company has advanced a sum of Rs. 250 Mn to Dawson Office Complex (Private) Limited to fund the purchase of assets. Thisamount is reflected as an intercompany receivable pending the issue of shares in Dawson Office Complex (Private) Limited.