Directors - Boustead Holdings Berhad

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Notes to the Financial Statements 32. DEFERRED TAXATION (cont’d.) 128 Deferred tax assets have not been recognised in respect of the following: Group Company 2006 2005 2006 2005 RM’000 RM’000 RM’000 RM’000 Unused tax losses 116,918 132,306 –– –– Unabsorbed capital allowances and agricultural allowances 113,726 77,471 –– –– Unabsorbed investment tax allowances –– 16,549 –– –– 230,644 226,326 –– –– The availability of the unused tax losses and unabsorbed capital allowances for offsetting against future taxable profits of the respective Subsidiaries are subject to no substantial changes in shareholding of those Subsidiaries under Section 44(5A) and (5B) of Income Tax Act, 1967. Deferred tax assets have not been recognised in respect of these items because it is not probable that they may be used to offset taxable profits of other companies in the Group and they have arisen in companies that have a recent history of losses. 33. BORROWINGS Group Company 2006 2005 2006 2005 RM’000 RM’000 RM’000 RM’000 Overdrafts 86,937 83,346 46,019 37,087 Bankers’ acceptances 113,423 58,590 –– –– Revolving credits 989,000 746,250 565,000 440,750 Short term loans (Note 30) 438,912 250,383 20,000 20,000 1,628,272 1,138,569 631,019 497,837 Borrowings other than the short term loans repayable within twelve months are unsecured and bear interest at weighted average rate of 4.8% (2005: 4.6%) per annum. The terms for short term loans are disclosed in Note 30.
34. INTEREST IN JOINT VENTURE PLANTATION The Group has a 50% interest in Kuala Muda Estate, which is being held at a book value of RM6,145,000 (2005: RM6,145,000). The following amounts represent the Group’s share of the assets and liabilities and revenue and expenses of the joint venture plantation that have been included in the balance sheet and income statement: Group 2006 2005 RM’000 RM’000 Property, plant and equipment 224 238 Current assets 5,532 2,561 Current liabilities (2,034) (206) Net assets 3,722 2,593 Revenue 4,985 3,680 Operating cost (3,176) (2,381) Profit before taxation 1,809 1,299 Capital commitment –– 72 There are no other capital commitments or contingencies relating to the Group’s interest in the joint venture. 129
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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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Balance Sheets As at 31 December 20
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Statements of Changes in Equity For
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Statements of Changes in Equity For
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Boustead Management Services Sdn Bh
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