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NOTES TO THE FINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)6. Investment in subsidiaries (Continued)The impact on the Group’s revenue and net profit for the financial year 2006 would have been $6,759,248 and $54,907 respectively if the acquisition had been completedon 1 October 2005.The fair value of the identifiable assets and liabilities of the businesses as at the date of acquisitions were:Carrying amountsbefore combinationFair value recognisedon acquisition2006 2006$ $Property, plant and equipment 312,095 312,095Inventories 1,210,420 1,210,420Cash and bank balances 1,418,642 1,418,642Trade and other receivables 1,544,816 1,544,816Income tax recoverable 3,500 3,500Trade and other payables (2,444,547) (2,444,547)Deferred tax liabilities (900) (900)Net identifiable assets acquired 2,044,026 2,044,026Minority interests (544,026)Total purchase consideration 1,500,000Purchase consideration paid by cash (1,500,000)Cash acquired 1,418,642Net cash outflow on acquisition of subsidiaries (81,358)68 HG METAL MANUFACTURING LIMITED ANNUAL REPORT 2007
NOTES TO THE FINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)7. InventoriesThe Group The Company2007 2006 2007 2006$ $ $ $Trading inventories 168,875,406 91,006,790 167,561,050 88,874,183Finished goods 5,725,273 3,676,757 - -Work-in-progress 3,839,143 2,133,396 - -Raw materials 3,969,931 4,797,163 - -182,409,753 101,614,106 167,561,050 88,874,1838. Trade and other receivablesThe GroupThe Company2007 2006 2007 2006$ $ $ $Trade receivablesThird parties 92,510,106 95,372,135. 82,003,096 85,721,857Amounts due by subsidiaries - -. 3,375,417 84,225Amounts due by related parties 43,711 170,162. 43,711 170,162Allowance for doubtful receivables (3,835,813) (3,886,737). (3,698,025) (3,697,641)88,718,004 91,655,560 81,724,199 82,278,603HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200769
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Successfulimplementationof secondsa
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CHAIRMAN’S STATEMENT (CONT’D)pr
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6HG METAL MANUFACTURING LIMITED ANN
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8 HG METAL MANUFACTURING LIMITED AN
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OPERATIONS & FINANCIAL REVIEW (CONT
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Executive ChairmanMr Tan Chan Too,
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REAPING REWARDS
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CORPORATE INFORMATIONBOARD OF DIREC
Page 20 and 21: CORPORATE GOVERNANCE STATEMENTPrinc
Page 22 and 23: CORPORATE GOVERNANCE STATEMENTThe R
Page 24 and 25: CORPORATE GOVERNANCE STATEMENTExecu
Page 26 and 27: CORPORATE GOVERNANCE STATEMENTThe G
Page 28 and 29: REPORT OF THE DIRECTORSThe Director
Page 30 and 31: REPORT OF THE DIRECTORS (Continued)
Page 32 and 33: REPORT OF THE DIRECTORS (Continued)
Page 34 and 35: INDEPENDENT AUDITORS’ REPORTTO TH
Page 36 and 37: BALANCE SHEETSAS AT 30 SEPTEMBER 20
Page 38 and 39: CONSOLIDATED INCOME STATEMENTFOR TH
Page 40 and 41: STATEMENTS OF CHANGES IN EQUITYFOR
Page 42 and 43: CONSOLIDATED CASH FLOW STATEMENTFOR
Page 44 and 45: NOTES TO THE FINANCIAL STATEMENTSFO
Page 50 and 51: FOR THE FINANCIAL YEAR ENDED 30 SEP
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Page 102 and 103: APPENDIX1. INTRODUCTIONThe director
Page 104 and 105: APPENDIX(ii)an “interested person
Page 106 and 107: APPENDIX2.4 CATEGORIES OF INTERESTE
Page 108 and 109: APPENDIXContracts for the same or s
Page 110 and 111: APPENDIX(b)Substantial Shareholders
Page 112 and 113: APPENDIXDuring its periodic review
Page 114 and 115: SHAREHOLDERS STATISTICas at 17 Dece
Page 116 and 117: SHAREHOLDERS STATISTICas at 17 Dece
Page 118 and 119: WARRANTHOLDINGS STATISTICas at 17 D
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NOTICE OF ANNUAL GENERAL MEETINGnum
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Explanatory Note for item 7 above:-
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PROXY FORMHG METAL MANUFACTURING LI
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A META FUSION DESIGN
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