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annual report | 2012 Gunung Capital Berhad (330171-P) 80 NOTES TO THE FINANCIAL STATEMENTS (cont’d) 31 DECEMBER 2012 23 REVENUE 2012 RM Group Company Transportation services and related activities 73,612,216 70,600,781 - - Lease rental income 5,040,000 5,040,000 - - Sales of inventories 350,000 - - - Dividend income - - 5,000,000 4,976,000 24 OTHER INCOME 2011 RM 2012 RM 2011 RM 79,002,216 75,640,781 5,000,000 4,976,000 2012 RM Group Company Deposits forfeited - 928,000 - - Interest income 126,798 135,948 384 9,694 Gain on disposal of - held for trading financial asset - 119,658 - - - investment in subsidiary 539 - 417,371 - - investment property 11,277 - - - - property, plant and equipment 719,420 - - - Government grant received 145,703 - - - Management fee - - 354,600 354,600 Other income 17,878 49,528 - 2,180 Realised profit on foreign exchange 453,280 601,020 - - Rental income 10,500 34,200 - - Waiver of debts 35,080 - - - 2011 RM 2012 RM 2011 RM 1,520,475 1,868,354 772,355 366,474 During the financial year, Bas Rakyat Sdn. Bhd., a 75% subsidiary of GPB Corporation Sdn. Bhd., which is a wholly owned subsidiary of the Company, received an initial funding of RM145,703 from Land Public Transport Commission in respect of a stage bus support fund approved by the Government of Malaysia for qualified stage bus operators in Malaysia. The grant is presented as a component of other income in the statements of comprehensive income. 25 FINANCE COSTS 2012 RM Group Company Interest on finance lease and hire purchase 3,733,198 4,689,478 - - Interest on bank borrowings 120,294 19,728 46,042 - Interest on shareholder’s advance 52,734 184,449 - - 2011 RM 2012 RM 2011 RM 3,906,226 4,893,655 46,042 -
NOTES TO THE FINANCIAL STATEMENTS (cont’d) 31 DECEMBER 2012 26 PROFIT BEFORE TAXATION 2012 RM Group Company This is stated after charging:- Amortisation of long leasehold land 47,646 47,646 - - Audit fee 93,876 89,000 39,200 37,000 Bad debts written off - 13,446 - - Depreciation of: - investment property 2,317 5,559 - - - property, plant and equipment 19,202,004 18,161,675 1,427 3,608 Employee benefits (Note 27) 8,446,095 7,437,447 731,620 180,155 Impairment loss on: - other financial assets 261,754 - - - - other receivables 3,285 - - - Inventories written down 73,859 200,000 - - Loss on disposal of property, plant and equipment 75,690 22,795 - - Non-executive directors’ remuneration (Note 28) 93,000 123,500 93,000 123,500 Property, plant and equipment written off - 29,073 - - Rental expense - 159,255 - - 27 EMPLOYEE BENEFITS 2011 RM 2012 RM Group Company Salaries, bonus, overtime and allowances 7,468,538 6,609,607 659,000 162,000 Defined contribution plans 872,058 727,958 72,000 18,000 Social security contributions 105,499 99,882 620 155 2012 RM 2011 RM 2012 RM 2011 RM 2011 RM 8,446,095 7,437,447 731,620 180,155 Included in employee benefits of the Group and of the Company are executive directors’ remuneration amounting to RM731,000 (2011: RM180,000) as further disclosed in Note 28. The total number of employees in the Group at the end of the reporting period is 496 (2011: 497). Gunung Capital Berhad (330171-P) 81 annual report | 2012
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(Source: CEO of Gunung Capital Bhd,
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Page 110 and 111: Notes:- 1. A member of the Company,
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