cover rationale - ChartNexus
cover rationale - ChartNexus
cover rationale - ChartNexus
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NOTES TO THE FINANCIAL STATEMENTS 31 AUGUST 2002 (CONTINUED)<br />
108<br />
6 PROFIT/(LOSS) FROM OPERATIONS<br />
Profit/(loss) from operations is arrived<br />
at after charging/(crediting):<br />
MALAYSIAN RESOURCES CORPORATION BERHAD<br />
Group Company<br />
2002 2001 2002 2001<br />
RM'000 RM'000 RM'000 RM'000<br />
Auditors’ remuneration 394 351 25 25<br />
Staff cost (excluding remuneration of<br />
directors) 34,220 41,374 7,619 13,363<br />
Operational property, plant and equipment:<br />
- depreciation 11,204 8,496 4,028 2,236<br />
- impairment loss 2,993 5,526 - -<br />
- written off 3,953 7,324 3,773 -<br />
- net gain on disposals (979) (448) (394) (230)<br />
Depreciation of investment properties 5,029 5,030 - -<br />
Allowance for inventories obsolescence 347 - - -<br />
Rental of:<br />
- premises 123 1,585 3,804 5,594<br />
- motor vehicles 282 369 77 97<br />
- office equipment 154 199 (10) 64<br />
Hire of plant and machinery/equipment 404 55 - -<br />
Bad debts written off - 4,436 - 30<br />
Severance costs 3,000 184 834 -<br />
Project development expenditure<br />
amortised/written off - 5,572 - -<br />
Provision for:<br />
- liabilities and charges 9,447 2,098 901 155<br />
- foreseeable losses on contracts - 5,989 - -<br />
Amortisation of bonds issuance expenses 971 464 - -<br />
Net realised (gain)/loss on foreign exchange (42) 643 - -<br />
Net unrealised loss/(gain) on foreign<br />
exchange 14,842 (2,738) 13,978 (2,738)<br />
Contract cost of the Group and the Company recognised as an expense during the financial<br />
year amounted to RM314,275,000 (2001: RM453,239,000) and RM113,492,000 (2001:<br />
RM80,508,000) respectively. Cost of inventories and services of the Group and the Company<br />
recognised as an expense during the financial year amounted to RM17,283,000 (2001:<br />
RM16,961,000) and RM Nil (2001: RM794,000) respectively.