Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

46
NOTES TO THE FINANCIAL STATEMENTS (Cont’d)
4. INTEREST IN ASSOCIATED COMPANIES
Amtel Holdings Berhad 2003 annual report
GROUP
2003 2002
RM RM
Unquoted shares, at cost 4,509,592 4,757,590
Share of results of associated companies
At beginning of the year 4,467,806 2,787,258
Current year share of results 785,947 1,680,548
Reversal of share of results on disposal of an associated company (15,634) -
At end of the year 5,238,119 4,467,806
9,747,711 9,225,396
Represented By:-
Share of net assets 9,747,711 9,225,396
The associated companies are as follows:-
Country of Effective
Name of Company Incorporation Equity Interest Principal Activities
2003 2002
Held through Amtel
Industries Sdn. Bhd.
* Permata Makmur Sdn. Bhd. Malaysia 50% 50% Manufacturer and trading in semiprocessed
timber.
Held through Permata
Makmur Sdn. Bhd.
* Permata Makmur Malaysia 25.5% 25.5% Manufacturer and trading in rubber
Industries Sdn. Bhd. wood timber.
* The financial statements of these associated companies are audited other than by the Company’s auditors.
The investment in the associated company, Kota Naluri Sdn. Bhd., held by a subsidiary company, Amtel
Resources Sdn. Bhd., was disposed of during the current financial year as disclosed in note 39 to the financial
statements.
5. OTHER INVESTMENTS
At cost:
GROUP COMPANY
2003 2002 2003 2002
RM RM RM RM
Transferable club membership 61,000 61,000 61,000 61,000
Shares quoted in Malaysia 96,933 290,969 - -
Unit trusts quoted in Malaysia 170,019 676,313 - 206,140
266,952 967,282 - 206,140
Balance carried down 327,952 1,028,282 61,000 267,140