cover rationale - ChartNexus

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