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 200021 SHORT TERM BANK BORROWINGS (continued)Interest rates charged per annum:Group17 months Financialended year ended31.12.2000 31.7.1999% %Revolving credit 3.05 to 6.70 4.75 to 14.10Bank overdraft 7.75 to 8.50 8.50 to 12.85Bridging loan 5.25 –22 DEFERRED TAX LIABILITYGroup31.12.2000 31.7.1999RMRMAt beginning of the financial period/year 21,308,547 21,532,839Transfer from/(to) income statement (Note 7) 596,839 (224,292)At end of the financial period/year 21,905,386 21,308,54723 RESERVESGroupCompany31.12.2000 31.7.1999 31.12.2000 31.7.1999RM RM RM RMNon-distributableShare premium 60,303,758 60,062,230 60,303,758 60,062,230Revaluation reserves 298,552,112 298,552,112 325,671,684 325,671,684358,855,870 358,614,342 385,975,442 385,733,914Capital reserves– Capital reserves arising on consolidation 325,095 325,095 – –– Merger deficit (41,625,009) (41,625,009) – –– Other reserves 11,314,467 11,314,467 11,314,467 11,314,467(29,985,447) (29,985,447) 11,314,467 11,314,467Treasury shares, at cost (121,091) (121,088) (121,091) (121,088)Distributable328,749,332 328,507,807 397,168,818 396,927,293Retained earnings 164,992,044 172,076,534 51,659,124 49,823,744Revaluation reserves 1,912,246 1,912,246 – –Other reserves 3,941,454 3,941,454 3,941,454 3,941,454170,845,744 177,930,234 55,600,578 53,765,198Total 499,595,076 506,438,041 452,769,396 450,692,491Subject to the approval by the Inland Revenue Board, the Company has sufficient Section 108 tax credits and taxexemptincome to frank the payment of net dividends of approximately RM30,132,000 (31.7.1999: RM41,878,000) andtax-exempt dividends of approximately RM13,169,000 (31.7.1999: RM7,305,000) respectively out of its retainedearnings as at 31 December 2000.UNITED MALAYAN LAND BHD59