2004 - Hiap Teck Venture Berhad

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12. BORROWINGS (CONT’D) Total Borrowings GROUP 2004 2003 RM'000 RM'000 Bank overdrafts - 11,992 Revolving credit - 3,000 Bankers' acceptances 181,843 135,006 Trust receipts - 17,656 On shore foreign currency loan 4,745 - Term loans - 19,825 Hire purchase payables (Note 13) 132 690 Maturity of borrowings (excluding hire purchase): 186,720 188,169 Within one year 186,588 173,479 More than 1 year and less than 2 years - 4,000 More than 2 years and less than 5 years - 10,000 The range interest rates for the borrowings, excluding hire purchase were as follows: 186,588 187,479 GROUP 2004 2003 % % Bank overdrafts 6.75 to 8.00 7.50 to 8.00 Revolving credit 5.30 to 8.00 7.50 to 8.00 Bankers' acceptances 3.48 to 5.32 3.76 to 5.05 Trust receipts 6.75 to 8.00 7.50 to 8.00 Term loans 8.00 to 8.90 7.50 to 8.90 On shore foreign currency loan 3.10 to 3.20 - 13. HIRE PURCHASE PAYABLES Minimum lease payments: GROUP 2004 2003 RM'000 RM'000 Within one year 134 582 More than 1 year and not later than 2 years - 134 134 716 Less: Future finance charges (2) (26) Present value of finance lease liabilities: 132 690 Within one year 132 558 More than 1 year and less than 2 years - 132 The hire purchase bore interest at a rate 3.80% (2003: 3.80% to 4.63%) per annum. 132 690 HIAP TECK VENTURE BERHAD 41
14. TRADE PAYABLES The normal trade credit terms granted to the Group range from 5 days to 90 days. (2003: 7 days to 90 days). 15. OTHER PAYABLES GROUP COMPANY 2004 2003 2004 2003 RM'000 RM'000 RM'000 RM'000 Sundry payables 5,037 3,760 - - Accruals 5,035 3,300 1,448 670 Deposits 285 409 - - 10,357 7,469 1,448 670 16. SHARE CAPITAL Group/Company Number of Ordinary Shares of RM0.50 Each Amount 2004 2003 2004 2003 '000 '000 RM'000 RM'000 Authorised: At 1 August/31 July 400,000 400,000 200,000 200,000 Issued and fully paid: At 1 August 236,200 600 118,100 300 Issued during the year: Issued for cash 91,200 - 45,600 - Acquisition of subsidiaries - 150,948 - 75,474 Properties acquired - 84,652 - 42,326 At 31 July 327,400 236,200 163,700 118,100 The new ordinary shares rank pari passu in all respects with the then existing ordinary shares of the Company. The entire issued and paid-up share capital of the Company comprising 327,400,000 ordinary shares of RM0.50 each were admitted to the Official List of the Exchange on 2 September 2003. The shares were granted quotation on the Main Board of the Exchange on the same date. 17. RESERVES GROUP COMPANY 2004 2003 2004 2003 RM'000 RM'000 RM'000 RM'000 Share premium 21,853 20,574 21,853 20,574 Share application monies - 22,990 - 22,990 Revaluation reserves 14,667 14,667 - - Retained profits 84,686 49,233 1,183 (461) Revaluation reserves 121,206 107,464 23,036 43,103 This reserves includes the cumulative net change, net of deferred tax effects, arising from the revaluation of freehold land, leasehold land and buildings. Retained profits The Company has sufficient tax credit under Section 108 of the Income Tax Act 1967 to frank the payment of dividends out of its entire retained profits as at 31 July 2004. 42 HIAP TECK VENTURE BERHAD
Page 1 and 2: 2004 annual report C R E A T I N G
Page 3 and 4: CORPORATE STRUCTURE 100% 100% 100%
Page 5 and 6: PROFILE OF THE BOARD OF DIRECTORS T
Page 7 and 8: CHAIRMAN’S STATEMENT On behalf of
Page 9 and 10: FINANCIAL HIGHLIGHTS Revenue (RM’
Page 11 and 12: The Company’s Articles of Associa
Page 13 and 14: STATEMENT ON INTERNAL CONTROL The B
Page 15 and 16: AUDIT COMMITTEE REPORT The Audit Co
Page 17 and 18: 6. Audit Committee Report The Commi
Page 19 and 20: Directors’ Report The directors h
Page 21 and 22: ISSUE OF SHARES AND INITIAL PUBLIC
Page 23 and 24: Statement by Directors Pursuant to
Page 25 and 26: Balance Sheets as at 31 July 2004 N
Page 27 and 28: Consolidated Statement of Changes i
Page 29 and 30: Cash Flow Statements for the year e
Page 31 and 32: Notes to the Financial Statements 3
Page 33 and 34: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 35 and 36: 2. SIGNIFICANT ACCOUNTING POLICIES
Page 37 and 38: 3. PROPERTY, PLANT AND EQUIPMENT (C
Page 39 and 40: 5. OTHER INVESTMENTS GROUP COMPANY
Page 41: 11. CASH AND CASH EQUIVALENTS GROUP
Page 45 and 46: 18. DEFERRED TAX (CONT’D) Deferre
Page 47 and 48: 23. DIRECTORS' REMUNERATION Directo
Page 49 and 50: 25. TAXATION (CONT’D) Company 200
Page 51 and 52: 30. SIGNIFICANT RELATED PARTY TRANS
Page 53 and 54: 33. SIGNIFICANT EVENTS In conjuncti
Page 55 and 56: 34. SEGMENTAL INFORMATION (CONT’D
Page 57 and 58: Analysis of Shareholdings as at 15
Page 59 and 60: DIRECTORS’ SHAREHOLDING as at 15
Page 61 and 62: financial year, amongst others, on
Page 63 and 64: Statement Accompanying Notice of An
Page 65 and 66: Company Secretaries HIAP TECK VENTU

2004 - Hiap Teck Venture Berhad

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