Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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38. SEGMENTAL ANALYSIS - GROUP (CONT’D) Major Business Segment (Cont’d) 2002 OTHER INFORMATION INVESTMENT MANUFACTURING HOUSING HOLDING INFRASTRUCTURE & SERVICES TRADING DEVELOPMENT ELIMINATIONS CONSOLIDATED RM RM RM RM RM RM RM Segment assets 71,764,885 18,423,909 14,806,982 24,163,175 - (72,821,025) 56,337,926 Investment in associated company - 263,632 8,961,764 - - - 9,225,396 Deferred tax assets 1,010,000 Tax recoverable and paid in advance 370,652 Consolidated total assets 66,943,974 Segment liabilities 19,292,374 7,424,677 13,959,834 17,193,914 - (38,827,210) 19,043,589 Taxation 727,930 Deferred taxation 134,759 Unallocated corporate liabilities 6,600,000 Consolidated total liabilities 26,506,278 Capital expenditure 40,926 231,895 2,878,006 420,360 - - 3,571,187 Amortisation of goodwill (35,000) - 56,666 49 - - 21,715 Depreciation of property, plant and equipment 369,070 134,674 211,919 501,208 - - 1,216,871 Significant non-cash expenses other than depreciation NOTES TO THE FINANCIAL STATEMENTS (Cont’d) Bad debts written off 1,515 - - 395,872 - - 397,387 Inter-segment revenue of investment holding segment is in respect of fee revenue received. All other inter-segment revenue are in respect of sales between the segments which are charged at cost plus a percentage profit mark-up. Inter-segment transactions are entered in the ordinary course of business based on terms mutually agreed upon by the parties concerned. Amtel Holdings Berhad 2003 annual report 67
68 NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 39. SIGNIFICANT EVENTS On 9 May, 2003, the Company via its wholly owned subsidiary company namely Amtel Resources Sdn. Bhd. (“ARSB”) entered into an unconditional Share Sale Agreement with Loh Weng Sung (“the Purchaser”) for the disposal of its entire 50% equity interest comprising 250,000 ordinary shares of RM1/- each in Kota Naluri Sdn. Bhd. (“KNSB”) for a cash consideration of RM750,000/-. Subsequently, on 3 July, 2003, ARSB entered into a Variation Agreement with the Purchaser and KNSB for the settlement of the purchase consideration of RM750,000/- by way of the transfer of 12 parcels of properties which are beneficially owned by the Purchaser to ARSB. The 11 parcels of properties were transferred to and registered in the name of ARSB on 31 December, 2003 and 1 parcel of the property was transferred and registered on 5 January, 2004. 40. FINANCIAL INSTRUMENTS (a) Financial Risk Management Policies The Group’s financial risk management policy seeks to ensure that adequate financial resources are available for the development of the Group’s business whilst managing its risks. The Group operates within clearly defined guidelines that are approved by the Board and the Group’s policy is not to engage in speculative transactions. The main risks and corresponding management policies arising from the Group’s normal course of business are as follows:- (i) Foreign Exchange Risk The Group is exposed to foreign currency risk as a result of its normal trade activities when the currency denomination differs from its functional currency. The Group maintains a natural hedge, whenever possible, by depositing foreign currency proceeds from sales into foreign currency bank account which will primarily be used for payment of purchases in the same denomination. Foreign exchange exposures in transactional currencies other than its functional currency are kept to an acceptable level. The net unhedged financial assets and financial liabilities of the Group as at 30 November, 2003 that are not denominated in its functional currency are as follows:- Functional currency of the Group Amtel Holdings Berhad 2003 annual report United States Dollar Euro Total RM RM RM Trade Receivables Ringgit Malaysia 7,664,900 25,594 7,690,494 Other Receivables, Deposits and Prepayments Ringgit Malaysia 891,021 - 891,021
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2003 Annual Report Amtel Holdings B
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2 Notice of the Seventh Annual Gene
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4 Statement Accompanying Notice of
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6 Profile of Directors Amtel Holdin
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8 Amtel Holdings Berhad 2003 annual
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10 Amtel Holdings Berhad 2003 annua
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Page 17 and 18: 16 Chairman’s Statement It gives
Page 19 and 20: 18 Amtel Holdings Berhad 2003 annua
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 67: 66 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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