Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
Annual Report (Complete) - MYCRON Steel Berhad
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Notes to the Financial Statements 30 June 2010<br />
(continued)<br />
23. AMOUNTS OWING BY/(TO) OTHER RELATED COMPANIES<br />
Amount owing by/(to) other related companies are unsecured, interest free and have no fixed terms of repayment.<br />
24. CASH AND CASH EQUIVALENTS<br />
Group<br />
Company<br />
2010<br />
RM<br />
2009<br />
RM<br />
2010<br />
RM<br />
2009<br />
RM<br />
Cash in hand<br />
Bank balances<br />
Deposits with a licensed bank<br />
1,590<br />
4,216,856<br />
-<br />
785<br />
4,275,277<br />
20,500,000<br />
2<br />
257,184<br />
-<br />
2<br />
308,680<br />
-<br />
4,218,446<br />
24,776,062<br />
257,186<br />
308,682<br />
The weighted average interest rates effective at the balance sheet date are as follows:<br />
Group<br />
Company<br />
2010<br />
%<br />
per annum<br />
2009<br />
%<br />
per annum<br />
2010<br />
%<br />
per annum<br />
2009<br />
%<br />
per annum<br />
Bank balances<br />
Deposits with a licensed bank<br />
0.20<br />
-<br />
0.03<br />
1.34<br />
0.10<br />
-<br />
0.14<br />
-<br />
Deposits with a licensed bank of the Group in the previous financial year have an average maturity of 8 days. Bank balances are<br />
deposits held at call with a licensed bank.<br />
25. TRADE AND OTHER PAYABLES<br />
Group<br />
Company<br />
2010<br />
RM<br />
2009<br />
RM<br />
2010<br />
RM<br />
2009<br />
RM<br />
Trade payables<br />
Other payables<br />
Accruals<br />
Advance payment received<br />
62,880,191<br />
3,373,518<br />
3,541,209<br />
-<br />
6,809,277<br />
1,210,379<br />
9,073,335<br />
1,936,305<br />
-<br />
101,110<br />
612,241<br />
-<br />
-<br />
107,982<br />
564,680<br />
-<br />
69,794,918<br />
19,029,296<br />
713,351<br />
672,662<br />
The currency exposure profile of trade payable is<br />
as follows:<br />
- Ringgit Malaysia<br />
- US Dollar<br />
39,058,357<br />
23,821,834<br />
6,809,277<br />
-<br />
-<br />
-<br />
-<br />
-<br />
62,880,191<br />
6,809,277<br />
-<br />
-<br />
The currency exposure profile of accruals is as<br />
follows:<br />
- Ringgit Malaysia<br />
- Euro<br />
3,541,209<br />
-<br />
3,455,659<br />
5,617,676<br />
612,241<br />
-<br />
564,680<br />
-<br />
3,541,209<br />
9,073,335<br />
612,241<br />
564,680<br />
Credit period granted by trade payables ranged between 7 to 90 days (2009: 7 to 90 days).<br />
pg 75 | Mycron <strong>Steel</strong> <strong>Berhad</strong>