2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
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14. TRADE PAYABLES<br />
The normal trade credit terms granted to the Group range from 5 days to 90 days. (2003: 7 days to 90 days).<br />
15. OTHER PAYABLES<br />
GROUP<br />
COMPANY<br />
<strong>2004</strong> 2003 <strong>2004</strong> 2003<br />
RM'000 RM'000 RM'000 RM'000<br />
Sundry payables 5,037 3,760 - -<br />
Accruals 5,035 3,300 1,448 670<br />
Deposits 285 409 - -<br />
10,357 7,469 1,448 670<br />
16. SHARE CAPITAL<br />
Group/Company<br />
Number of Ordinary<br />
Shares of RM0.50 Each<br />
Amount<br />
<strong>2004</strong> 2003 <strong>2004</strong> 2003<br />
'000 '000 RM'000 RM'000<br />
Authorised:<br />
At 1 August/31 July 400,000 400,000 200,000 200,000<br />
Issued and fully paid:<br />
At 1 August 236,200 600 118,100 300<br />
Issued during the year:<br />
Issued for cash 91,200 - 45,600 -<br />
Acquisition of subsidiaries - 150,948 - 75,474<br />
Properties acquired - 84,652 - 42,326<br />
At 31 July 327,400 236,200 163,700 118,100<br />
The new ordinary shares rank pari passu in all respects with the then existing ordinary shares of the Company.<br />
The entire issued and paid-up share capital of the Company comprising 327,400,000 ordinary shares of RM0.50<br />
each were admitted to the Official List of the Exchange on 2 September 2003. The shares were granted quotation<br />
on the Main Board of the Exchange on the same date.<br />
17. RESERVES<br />
GROUP<br />
COMPANY<br />
<strong>2004</strong> 2003 <strong>2004</strong> 2003<br />
RM'000 RM'000 RM'000 RM'000<br />
Share premium 21,853 20,574 21,853 20,574<br />
Share application monies - 22,990 - 22,990<br />
Revaluation reserves 14,667 14,667 - -<br />
Retained profits 84,686 49,233 1,183 (461)<br />
Revaluation reserves<br />
121,206 107,464 23,036 43,103<br />
This reserves includes the cumulative net change, net of deferred tax effects, arising from the revaluation of<br />
freehold land, leasehold land and buildings.<br />
Retained profits<br />
The Company has sufficient tax credit under Section 108 of the Income Tax Act 1967 to frank the payment of<br />
dividends out of its entire retained profits as at 31 July <strong>2004</strong>.<br />
42 HIAP TECK VENTURE BERHAD