2004 - Hiap Teck Venture Berhad

21. PROFIT/(LOSS) FROM OPERATIONS
Profit/(loss) from operations is stated after charging/(crediting):
GROUP
COMPANY
2004 2003 2004 2003
RM'000 RM'000 RM'000 RM'000
Staff costs (Note 22) 20,364 12,896 3,985 -
Auditors' remuneration:
Statutory audits
- current year 85 124 15 4
- prior year's (6) (2) - -
Other services
- current year 5 24 5 15
- prior year's 1 (2) 1 -
Rent expense 71 4,154 - -
Depreciation of property, plant and
equipment (Note 3) 13,362 10,617 778 778
Amortisation of goodwill 52 52 - -
Provision for doubtful debts 64 6,594 - -
Doubtful debts recovered (4,145) - - -
Doubtful debts written back - (75) - -
Bad debts recovered (2) (21) - -
Non-executive directors' remuneration
(Note 23) 218 60 189 24
Loss on disposal of investment 537 - - -
Provision for impairment
in value of investments 531 - - -
Gain on disposal of plant and equipment (1,200) (3,987) - -
Rental income (180) (312) - -
Net foreign exchange losses/(gains):
Realised (910) (427) - -
Unrealised 1 (110) - -
Revaluation deficit on revaluation
of leasehold land - (354) - -
Plant and equipment written off 183 - - -
Other payable written off (70) - - -
Fixed deposits interest income (310) (199) (164) (41)
Net overdue interest income written off 81 119 - -
Bad debts written off 148 - - -
22. STAFF COSTS
GROUP
COMPANY
2004 2003 2004 2003
RM'000 RM'000 RM'000 RM'000
Wages and salaries 13,664 10,709 1,256 -
Bonus 4,149 340 1,700 -
Social security costs 124 111 1 -
Pension costs
- defined contribution plans 1,601 1,033 229 -
Other staff related expenses 826 703 799 -
20,364 12,896 3,985 -
Included in staff costs of the Group and of the Company are executive directors' remuneration amounting to
RM5,331,000 (2003: RM1,620,000) and RM3,985,000 (2003: RM Nil) respectively as further disclosed in Note 23.
HIAP TECK VENTURE BERHAD
45