L a p o r a n T a h u n a n 2 0 0 0 A n n u a l R e p o r t - ChartNexus

Notes to the Financial Statements (continued)For the financial period of seventeen months ended 31 December 200012 INVESTMENT IN ASSOCIATED COMPANYGroup31.12.2000 31.7.1999RMRMUnquoted shares, at cost 6,240,000 6,120,000Share of post-acquisition losses (418,287) (674,599)Goodwill on acquisition written off against capital reserve (7,020) (7,020)5,814,693 5,438,381Represented by:Share of net tangible assets 5,814,693 5,438,381Details of the associated company, which was incorporated in Malaysia, are as follows:Percentage ofequity holdingsName of company Principal activities 31.12.2000 31.7.1999% %Ipjora Holdings Sdn Bhd Developing, building, owning and 40 40operating service apartments13 OTHER INVESTMENTSGroup31.12.2000 31.7.1999RMRMUnquoted shares, at cost 8,642 8,64214 LONG TERM RECEIVABLESThe long term receivables are in respect of amounts recognised under the interest-free instalment scheme for sales ofcompleted houses for which the sales proceeds are receivable over four to seven years. The instalments receivablewithin twelve months amounting to RM8,794,858 (31.7.1999: RM7,773,823) are included in current assets.Included in the long term receivables of the Group are balances due from Directors and related parties amounting toRM181,028 (31.7.1999: RM Nil) representing outstanding amounts in respect of sale of development properties.15 DEFERRED TAX ASSETGroup31.12.2000 31.7.1999RMRMAt beginning of the financial period/year 15,065,714 15,708,714Arising on transfer during the financial period 2,397,868 –Transfer to income statement (Note 7) (273,000) (643,000)At end of the financial period/year 17,190,582 15,065,71456The deferred tax asset is recognised to the extent of the amount of real property gains tax payable on the transfer ofthe freehold land from property, plant and equipment to development properties and is charged to the incomestatement upon the sale or progress billings of the related development properties.