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 200016 COMPLETED PROPERTIESCompleted properties with book value of RM18,470,830 (31.7.1999: RM Nil) of the Group have been pledged assecurity for the short term bank borrowings (Note 21).17 DEVELOPMENT PROPERTIESGroup31.12.2000 31.7.1999RMRMFreehold land – at cost 110,467,157 128,918,834– at valuation 42,291,651 33,260,976Development expenditure - at cost 265,859,075 205,963,161418,617,883 368,142,971Add: Attributable profits recognised 29,600,346 16,193,651448,218,229 384,336,622Less: Progress billing to date (81,814,132) (35,888,249)Transfer from/(to) property, plant and equipment (Note 10) 2,238,810 (15,697,922)368,642,907 332,750,451Included in the development expenditure is interest capitalised during the financial period amounting to RM6,111,646(31.7.1999: RM3,688,063). Interest charged were at rates ranging from 3.05% to 8.50% (31.7.1999: 4.75% to 14.10%)per annum during the financial period.Development properties with book value of RM116,150,918 (31.7.1999: RM Nil) of the Group have been pledged assecurity for the short term bank borrowings (Note 21).18 TRADE AND OTHER RECEIVABLESGroupCompany31.12.2000 31.7.1999 31.12.2000 31.7.1999RM RM RM RMTrade receivables 73,141,830 47,790,466 296,774 296,774Less: Provision for doubtful debts (3,696,558) (4,226,955) (200,000) (200,000)69,445,272 43,563,511 96,774 96,774Other receivables 2,833,427 4,790,496 79,657 474,369Less: Provision for doubtful debts (97,858) (97,858) – –2,735,569 4,692,638 79,657 474,369Amount due from subsidiary companies – – 172,126,783 165,387,325Amount due from a related company 6,982 – – –Deposits 4,472,143 2,461,396 115,751 107,277Prepayments 113,373 108,760 45,913 51,1784,592,498 2,570,156 172,288,447 165,545,780Total 76,773,339 50,826,305 172,464,878 166,116,923Included in the trade receivables of the Group are balances due from Directors and related parties amounting toRM57,636 (31.7.1999: RM227,845) representing outstanding amounts in respect of sale of development properties.UNITED MALAYAN LAND BHD57