Utusan Melayu (Malaysia) Bhd - Announcements

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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.
Notes T O T HE A CCOUNTS for the year ended 31 December 1999 23. OVERDRAFTS The bank overdrafts are unsecured and interest rates for the financial year ranged from 7.8% to 10.25% (1998: 8.8% to 14.05%) per annum. 24. ACQUISITION OF A SUBSIDIARY COMPANY During the financial year the Group acquired a subsidiary company, Forum Exposition Sdn Bhd. The fair value of the assets and liabilities assumed are as follows:- Net assets acquired: Fixed assets 80,600 Investment 1,600 Work-in-progress 123,375 Debtors 342,180 Cash and bank balances 150,155 Creditors (781,343) (83,433) Goodwill 623,433 Total acquisition cost 540,000 Less: cash and bank balances (150,155) Cash flow on acquisition, net of cash acquired 389,845 25. SIGNIFICANT INTER-COMPANY TRANSACTIONS The following transactions were carried out with subsidiary companies based on negotiated term and conditions:- RM The Company 1999 1998 RM RM Purchases from subsidiary companies 10,454,995 9,140,438 Commission received from subsidiary companies 879,592 1,038,064 Interest income from subsidiary companies 1,854,131 1,543,733 Rental income from subsidiary companies 489,942 347,538 Rental charged by subsidiary companies 431,943 328,376 Advertising commission paid to subsidiary companies 5,657,356 7,442,018 Utusan Melayu (Malaysia) Berhad 63
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UTUSAN MELAYU (MALAYSIA) BERHAD 717
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C o r p o r a t e M i s s i o n •
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8. To transact any other ordinary b
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Corporate I NFORMATION BOARD OF DIR
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Senior M ANAGEMENT Tan Sri Kamarul
Page 13 and 14: Royal Code Of Conduct The Taj al-Sa
Page 15 and 16: AUTHORITY The Committee is authoris
Page 17: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 20 and 21: Chairman’s S TATEMENT Dear Shareh
Page 22 and 23: Chairman’s S TATEMENT Our Adverti
Page 24 and 25: Chairman’s S TATEMENT A new chapt
Page 26 and 27: Chairman’s S TATEMENT In the othe
Page 28 and 29: Corporate C ALENDAR 1 4 February 19
Page 31 and 32: Sentiments and Sensitivity of Love
Page 33 and 34: Directors’ R EPORT for the year e
Page 35 and 36: Directors’ R EPORT for the year e
Page 37 and 38: Consolidated P ROFIT A ND L OSS A C
Page 39 and 40: Profit A ND L OSS A CCOUNT for the
Page 41 and 42: Consolidated C ASH F LOW S TATEMENT
Page 43 and 44: Notes T O T HE A CCOUNTS for the ye
Page 63: Notes T O T HE A CCOUNTS for the ye
Page 69 and 70: List O F P ROPERTIES as at 31 Decem
Page 71 and 72: List O F P ROPERTIES as at 31 Decem
Page 73 and 74: I/We of being a member/members of U
Page 75: Azizi Meor Ngah 36, Jalan Jelutong
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Utusan Melayu (Malaysia) Bhd - Announcements

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