directors - The Lion Group

29. RELATED COMPANY TRANSACTIONS
(a) Amount owing by/to subsidiary companies
Amount owing by/to subsidiary companies comprises:
79
The Company
2005 2004
RM’000 RM’000
Amount owing by subsidiary companies 1,298,480 1,397,294
Less: Allowance for doubtful receivables (110,088) (110,088)
1,188,392 1,287,206
Amount owing to subsidiary companies 252,342 246,202
The amounts owing by/to subsidiary companies arose mainly from inter-company advances, novation of
debts, interest and dividend receivable and payable.
The amount owing by subsidiary companies are either interest-free or bear interest at 1% or 8% (2004:
either interest-free or bear interest at 1% or 8%) per annum and have no fixed repayment terms.
In 2004, the amount owing by a subsidiary company under liquidation of RM5,810,000 (net of allowance
for doubtful receivables) was included in other receivables, deposits and prepayments (Note 28). The
amount was written off upon the liquidation of the said subsidiary company during the financial year.
The amount owing to subsidiary companies are either interest-free or bear interest at 1% or 8% (2004:
either interest-free or bear interest at 1% or 8%) per annum and have no fixed repayment terms.
The currency exposure profile of balances owing by subsidiary companies is as follows:
The Company
2005 2004
RM’000 RM’000
Ringgit Malaysia 1,095,352 1,192,447
Singapore Dollar 92,971 92,971
Renminbi 69 1,788
1,188,392 1,287,206