Sunny Tew

BALANCE SHEETSAS AT 30 SEPTEMBER 2007The GroupThe CompanyNote 2007 2006 2007 2006$ $ $ $Non-current assetsProperty, plant and equipment 4 13,276,065 12,550,330. 4,657,318 4,815,850.Intangible assets 5 174,817 224,545. 163,417 163,417.Investment in subsidiaries 6 - -. 6,600,926 6,380,866.Deferred tax assets 14 101,622 587,389. 424,100 917,967.13,552,504 13,362,264. 11,845,761 12,278,100.Current assetsInventories 7 182,409,753 101,614,106. 167,561,050 88,874,183.Trade and other receivables 8 98,547,379 92,132,268. 93,865,715 84,378,916.Cash and cash equivalents 9 31,120,986 19,601,129. 26,163,627 16,540,891.312,078,118 213,347,503. 287,590,392 189,793,990.Less:Current liabilitiesTrade and other payables 10 75,367,277 43,438,601. 71,315,717 42,092,192.Finance lease payables 11 298,204 327,522. - -.Bank borrowings 12 122,632,970 114,095,249. 114,220,911 103,197,976.Current income tax payable 3,590,094 1,779,406. 3,315,320 1,581,197.201,888,545 159,640,778. 188,851,948 146,871,365.Net current assets 110,189,573 53,706,725. 98,738,444 42,922,625.34 HG METAL MANUFACTURING LIMITED ANNUAL REPORT 2007