Directors - Boustead Holdings Berhad

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Notes to the Financial Statements 28. RETAINED EARNINGS 122 The Company has sufficient tax credit under Section 108 of the Income Tax Act 1967 and the balance in the tax exempt income accounts to frank the payment of dividends out of its entire retained earnings as at 31 December 2006. 29. NEGATIVE GOODWILL Group 2006 2005 RM’000 RM’000 Cost At 1 January, as previously stated (201,880) 201,880 Effects of adopting FRS 3 (201,880) –– At 1 January, as restated and as at 31 December –– 201,880 Accumulated amortisation and impairment At 1 January, as previously stated (182,516) (128,682) Effects of adopting FRS 3 182,516 –– At 1 January, as restated –– (128,682) Amortisation during the year –– (53,834) At 31 December –– (182,516) Net carrying amount at 31 December –– 19,364
30. LONG TERM BORROWINGS Group Company 2006 2005 2006 2005 RM’000 RM’000 RM’000 RM’000 Term loans 586,393 499,420 60,000 80,000 Islamic bonds 100,000 160,000 –– –– Redeemable convertible bonds 75,294 75,294 –– –– Medium term notes –– 40,000 –– –– Bank guaranteed serial bonds 250,000 250,000 250,000 250,000 Bank guaranteed redeemable convertible bonds 100,000 100,000 100,000 100,000 1,111,687 1,124,714 410,000 430,000 Less: repayable in 1 year (Note 33) (438,912) (250,383) (20,000) (20,000) 672,775 874,331 390,000 410,000 Analysis by maturity: – within 1 year 438,912 250,383 20,000 20,000 – from 1 year to 2 years 211,787 399,704 70,000 90,000 – from 2 years to 5 years 460,988 374,627 320,000 220,000 – more than 5 years –– 100,000 –– 100,000 1,111,687 1,124,714 410,000 430,000 The Islamic bonds (IBs) and redeemable convertible bonds (RCBs) which were issued by a Subsidiary, <strong>Boustead</strong> Properties <strong>Berhad</strong> (BProp) carry a weighted average interest rate of 8.7% (2005: 8.2%) per annum. Progress billings from sales of the Mutiara Damansara and Mutiara Rini projects are assigned to Escrow Accounts, Profit Service Account and Principal Service Reserve Account for the repayment of the principal and interest of the IBs and RCBs. The bank guaranteed serial bonds (Serial Bonds) and the bank guaranteed redeemable convertible bonds (BGRCB) are unsecured and bear interest at a weighted average rate of 7.7% per annum. All the other borrowings are also unsecured and bear interest at a weighted average rate of 5.6% (2005: 5.5%) per annum. Except for a loan of RM45 million which is denominated in US Dollars, all borrowings are denominated in Ringgit Malaysia. 123
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www.boustead.com.my Boustead Holdin
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annual report
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Standing from left Y. BHG. LT. GEN.
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Y. BHG. TAN SRI DATO’ LODIN WOK K
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Y. BHG. DATUK AZZAT KAMALUDIN Non-I
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Corporate Calendar FINANCIAL YEAR 1
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En Hussin Abdul Jalil Boustead Esta
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Puan Azizah Aris Boustead Emasewa P
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Audit Committee Report Attendance N
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ACTIVITIES DURING THE FINANCIAL YEA
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THE BOARD OF DIRECTORS IS COMMITTED
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The composition of the Board and th
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Remuneration Committee The Board ha
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Internal Control The information on
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RISK MANAGEMENT The Board recognise
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MONITORING AND REVIEW OF THE ADEQUA
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2006 2005 2004 2003 2002 Gearing Bo
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It is often said that change is the
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AL-HADHARAH BOUSTEAD REIT The key h
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OUTLOOK AND PROSPECTS Barring unfor
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Chief Executive’s Review Each yea
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The Al-Hadharah Boustead REIT has b
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Financial Highlights Average Prices
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As one of the leading GLCs and key
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Financial Highlights 1,750 1,400 1,
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This shopping and dining haven was
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Financial Highlights 1,500 1,200 90
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Patrol vessel undergoing sea trial
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Financial Highlights 3,500 2,800 2,
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95 Hospital Angkatan Tentera under
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Financial Highlights 1,000 800 600
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University of Nottingham Malaysia C
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Directors’ Report The Directors h
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Directors’ Report DIRECTORS’ IN
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Directors’ Report OTHER STATUTORY
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Auditors’ Report TO THE MEMBERS O
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Page 142 and 143: Boustead Group 140 Group Interest %
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Page 152 and 153: Group Property Portfolio 150 Age of
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Page 168 and 169: Shareholding Statistics 166 AS AT 3
Page 170 and 171: Statement of Directors’ Interest
Page 172 and 173: Notice of Annual General Meeting NO
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Notice of Annual General Meeting SP
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Notice of Annual General Meeting wh
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Statement Accompanying Notice of An
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Boustead Management Services Sdn Bh
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Directors - Boustead Holdings Berhad

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