Utusan Melayu (Malaysia) Bhd - Announcements

Notes T O T HE A CCOUNTS for the year ended 31 December 1999
21. CURRENT LIABILITIES
62 Utusan Melayu (Malaysia) Berhad
The Group The Company
Note 1999 1998 1999 1998
RM RM RM RM
Trade creditors 28,675,613 26,960,379 4,116,854 3,567,005
Other creditors and accrued liabilities 54,779,321 39,360,091 39,345,862 25,491,990
Amount owing to a director 136,568 — — —
Lease and hire purchase creditors 13 2,566,730 2,715,583 533,413 469,082
Short term borrowings 22 48,276,108 59,777,605 42,123,608 54,631,608
Billings in advance 9,692,360 8,649,140 — —
Bank overdrafts 23 17,613,814 13,901,170 10,725,878 4,436,485
Taxation 839,768 6,060,714 686,047 4,080,947
Proposed dividend 4,456,675 — 4,456,675 —
22. SHORT TERM BORROWINGS
Short term borrowings comprise the following:-
167,036,957 157,424,682 101,988,337 92,677,117
The Group The Company
Note 1999 1998 1999 1998
RM RM RM RM
Bankers acceptance 17,075,000 30,883,000 17,075,000 30,883,000
Revolving credits 20,200,000 18,900,000 20,200,000 18,900,000
Current portion of term loans 11 9,933,453 9,119,296 4,848,608 4,848,608
Trust receipts 1,067,655 875,309 — —
48,276,108 59,777,605 42,123,608 54,631,608
(a) Bankers’ acceptance are unsecured and the interest rates for the financial year ranged from 3.2% to 10.25% (1998: 6.3%
to 14.4%) per annum.
(b) Revolving credits are unsecured and the interest rates for the financial year ranged from 5% to 14.85% (1998: 9.25% to
18.25%) per annum.
(c) Trust receipts for one of the subsidiary companies are guaranteed by two of the Directors of that subsidiary company.
Interest rates for the trust receipts for the financial year ranged from 7% to 10.35% (1998: 10.55% to 11%) per annum.