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3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (cont’d)
(iv) Liquidity and cash flow risk
Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an
adequate amount of committed credit facilities. The Group aims at maintaining flexibility in funding by keepingcommitted
credit lines available.
4 REVENUE
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
2005 2004
RM’000 RM’000
Group
Revenue from property development 219,574 168,773
Less: Revocation of sales (5,782) (4,988)
––––––––––––––––––– –––––––––––––––––––
213,792 163,785
Construction contract 102 –
Quarry lease rental 411 559
Land lease rental 30 30
Rental from properties 440 450
Interest income from short term deposits 30 21
––––––––––––––––––– –––––––––––––––––––
214,805 164,845
================= =================
Company
Dividend income from subsidiary companies
Interest income from short term deposits and
23,236 11,620
advances to subsidiary companies 4,524 5,333
Provision of management services 5,275 4,260
––––––––––––––––––– –––––––––––––––––––
33,035 21,213
================= =================
5 EMPLOYEE BENEFITS EXPENSES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Wages, salaries and bonus 13,854 10,066 5,121 3,767
Defined contribution retirement plan 1,911 1,435 701 518
Other employee benefits 1,444
–––––––––––––––––––
1,046
–––––––––––––––––––
483
–––––––––––––––––––
486
–––––––––––––––––––
17,209 12,547 6,305 4,771
================= ================= ================= =================
Employee benefits expenses include the remuneration of Executive Directors.
for the financial year ended 31 December 2005
At the end of the financial year, there were 234 (2004: 193) employees in the Group and 51 (2004: 40) employees in the Company.