Utusan Melayu (Malaysia) Bhd - Announcements

Notes T O T HE A CCOUNTS for the year ended 31 December 1999
15. SUBSIDIARY COMPANIES (CONT’D.)
All the subsidiary companies, unless otherwise stated, are incorporated in Malaysia.
As at 31 December 1999, the Company has interests in certain subsidiary companies comprising total investment and advances
amounting to RM28,826,482. These subsidiaries have incurred substantial losses and are in capital deficit positions as at the
end of the financial year. It is the intention of the Company to restructure and rationalise the activities of these subsidiaries to
ensure that they are able to operate as going concern. In view of this, the Directors are of the opinion that the diminution in
value of the interest in these subsidiary companies is not permanent.
16. ASSOCIATED COMPANIES
The Group The Company
1999 1998 1999 1998
RM RM RM RM
Unquoted shares, at cost 2,144,799 2,394,799 1,699,999 1,949,999
Group’s share of post-acquisition capital reserve 920,000 560,000 — —
Group’s share of post-acquisition profits less losses 3,966,538 4,169,440 — —
7,031,337 7,124,239 1,699,999 1,949,999
Less:
Provision for diminution in value (444,800) — (319,999) (569,998)
6,586,537 7,124,239 1,380,000 1,380,001
Add:
Amount owing by associated companies
Less:
244,598 570,999 244,598 244,598
Amount owing to associated companies (506,762) (498,838) (506,762) (498,838)
6,324,373 7,196,400 1,117,836 1,125,761
The associated companies are:-
Equity interest held
Name of company Directly Through
by the subsidiary Financial
company company year end Principal activities
1999 1998 1999 1998
% % % %
Swan Malaysia Sdn Bhd 40 40 — — 30 June Manufacturing of stationery
Utusan Transport Sdn Bhd 30 30 — — 31 December Transportation
World Infonexus Sdn Bhd — 40 — — 31 December News production
Utusan PNMB On/line Sdn Bhd — 50 — — 31 December Information technology
Commercial Airtime Marketing Sdn Bhd 40 40 — — 31 March Marketing of television
advertising airtime
TEAM UPD Ltd (Incorporated in India) — — 50 50 31 March Hiring of advertising sites
All the associated companies, unless otherwise stated, are incorporated in Malaysia.
Utusan Melayu (Malaysia) Berhad
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