directors - The Lion Group
directors - The Lion Group
directors - The Lion Group
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<strong>The</strong> effects of the abovementioned disposal and dilution on the financial position of the <strong>Group</strong> as of 30 June 2004<br />
are as follows:<br />
69<br />
(Unaudited) (Unaudited)<br />
(At the (At the<br />
date of date of<br />
disposal) dilution)<br />
2004 2004<br />
RM’000 RM’000<br />
Property, plant and equipment 685,591 5,630<br />
Investment in associated companies 53,097 405,390<br />
Long-term investments – 33,762<br />
Expenditure carried forward 29,123 –<br />
Goodwill on consolidation 4,206 30<br />
Inventories 115,550 11,869<br />
Short-term investments – 6,209<br />
Trade receivables 43,111 718<br />
Other receivables, deposits and prepayments 113,644 236,183<br />
Deposits, cash and bank balances 70,571 207,207<br />
Trade payables (69,575) (1,155)<br />
Other payables, deposits and accruals (344,734) (204,030)<br />
Short-term borrowings (42,863) –<br />
Tax liabilities (6,276) (13,764)<br />
Long-term borrowings (57,538) –<br />
Net assets 593,907 688,049<br />
Negative goodwill – (46,514)<br />
Minority interests (229,531) (278,685)<br />
364,376 362,850<br />
Reclassified to investment in associated companies (180,454) (317,207)<br />
Loss on dilution recognised in reserve 45,643<br />
Cost of disposal 183,922<br />
Proceeds from disposal (498,528)<br />
Gain on disposal recognised in income statement 314,606
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