Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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26. PROFIT/(LOSS) BEFORE TAXATION (CONT’D) (iii) Other items After charging/(crediting):- NOTES TO THE FINANCIAL STATEMENTS (Cont’d) GROUP COMPANY 2003 2002 2003 2002 RM RM RM RM Allowance/(Write back) for diminution in value of:- - quoted shares (498) 20,721 - - - short term investments 42,212 - - - Allowance for doubtful debts 44,663 - - - (Reversal of allowance)/Allowance for obsolete inventories (24,058) 9,863 - - Amortisation of goodwill on consolidation 5,416 21,715 - - Auditors' remuneration - current year 68,200 87,700 16,000 16,000 - (overprovision)/underprovision in prior year (2,000) 6,555 - - Bad debts written off 101,074 397,387 - - Depreciation of property, plant and equipment 1,143,186 1,216,871 135,500 123,482 Hire of machinery 14,950 11,947 - - Interest expenses - bank overdrafts 46,107 65,371 - - - term loans 75,432 - - - - others 838,944 976,550 14,937 13,200 Inventories written down 36,770 - - - Loss on dilution of equity interest in subsidiary company - 15,821 - - Obsolete inventories written off - 101,506 - - Property, plant and equipment written off 3,846 1,282 739 - Rental of premises 425,550 607,295 39,000 39,000 Waiver of debts - 9,246 - 13,189 Gain on disposal of subsidiary company - (34,651) - - Gain on disposal of property, plant and equipment (366,963) (338,207) - - Gain on foreign exchange - realised (241,279) (36,843) - - - unrealised - (3,201) - - Allowance for doubtful debts no longer required - (429,112) - - Amortisation of reserve on consolidation (61,382) (45,822) - - Bad debts recovered (1,519) (717,295) - - Dividend revenue (6,646) (7,469) - - Gain on disposal of quoted investments (202,600) (99,768) - - Interest revenue (169,441) (168,593) (2,599) (3,624) Rental revenue (34,800) (34,800) - - Revenue from hire of machinery (21,253) (83,289) - - Amtel Holdings Berhad 2003 annual report 57
58 NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 26. PROFIT/(LOSS) BEFORE TAXATION (CONT’D) b) Employees Information 27. TAXATION GROUP COMPANY 2003 2002 2003 2002 RM RM RM RM Staff costs 4,921,361 4,573,275 604,907 254,742 The number of employees including full time Directors of the Group and of the Company as at financial year end were 178 (2002 : 211) and 5 (2002 : 3) respectively. GROUP COMPANY 2003 2002 2003 2002 RM RM RM RM Based on results for the year 183,973 418,942 - - Transfer from deferred tax assets (note 8) 70,000 178,000 - - Transfer from deferred tax liabilities (note 23) (52,214) (21,651) - - 17,786 156,349 - - 201,759 575,291 - - Underprovision/(Overprovision) in prior year 94,054 63,500 8,320 (11,490) Share of taxation of associated companies Current year share of taxation 364,094 520,630 - - Prior year adjustment - of deferred tax asset - (5,203) - - 364,094 515,427 - - 659,907 1,154,218 8,320 (11,490) Effective from Year of Assessment 2003, the Malaysian government enacted a change in the statutory tax rate from 28% to 20%, for companies with paid-up share capital of RM2.5 million and below at the beginning of the basis period of chargeable income of up to RM100,000/-. For chargeable income in excess of RM100,000/-, statutory tax at the rate of 28% is still applicable. Reconciliation of tax expense and accounting profit:- GROUP COMPANY 2003 2002 2003 2002 RM RM RM RM Accounting profit/(loss) 254,533 2,976,783 (1,116,824) (273,815) Tax at the Malaysia statutory income tax rate of:- - first RM100,000/- at 20% 20,000 - - - - balance at 28% 43,269 833,499 (312,700) (76,700) Balance carried down 63,269 833,499 (312,700) (76,700) Amtel Holdings Berhad 2003 annual report
Page 1 and 2:
2003 Annual Report Amtel Holdings B
Page 3 and 4:
2 Notice of the Seventh Annual Gene
Page 5 and 6:
4 Statement Accompanying Notice of
Page 7 and 8: 6 Profile of Directors Amtel Holdin
Page 9 and 10: 8 Amtel Holdings Berhad 2003 annual
Page 11 and 12: 10 Amtel Holdings Berhad 2003 annua
Page 17 and 18: 16 Chairman’s Statement It gives
Page 23 and 24: 22 Statement of Internal Control Am
Page 27 and 28: 26 DIRECTORS’ REPORT The Director
Page 29 and 30: 28 DIRECTORS OF THE COMPANY (CONT
Page 31 and 32: 30 REPORT OF THE AUDITORS to the me
Page 33 and 34: 32 BALANCE SHEETS (Cont’d) GROUP
Page 35 and 36: 34 STATEMENTS OF CHANGES IN EQUITY
Page 37 and 38: 36 CASH FLOW STATEMENTS (Cont’d)
Page 39 and 40: 38 NOTES TO THE FINANCIAL STATEMENT
Page 57: 56 NOTES TO THE FINANCIAL STATEMENT
Page 75 and 76: 74 LIST OF PROPERTIES (Cont’d) Ap
Page 77 and 78: 76 LIST OF PROPERTIES (Cont’d) Ap
Page 79 and 80: 78 ANALYSIS OF SHAREHOLDINGS as at
Page 81 and 82: 80 ANALYSIS OF SHAREHOLDINGS (Cont
Page 83 and 84: Then fold here First fold here Amte
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