|
 |
NOTES TO THE FINANCIAL STATEMENTS |
 |
6. PROFIT FROM OPERATIONS
Include in profit from operations are the following:
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
After charging:
|
|
|
|
|
| |
Allowance for doubtful receivables: |
|
|
|
|
| |
|
Trade |
5,252
|
-
|
-
|
-
|
| |
|
Others |
464
|
15
|
464
|
-
|
| |
Bad receivables written off |
73
|
310
|
29
|
25
|
| |
Inventories written off |
4,271
|
5,098
|
1,127
|
1,181
|
| |
Allowance for inventories obsolescence |
1,249
|
779
|
1,153
|
475
|
| |
Royalty, technical and management fees payable
to: |
|
|
|
| |
|
Ultimate holding company (Note18) |
3,736
|
4,211
|
3,736
|
4,211
|
| |
|
Third party |
300
|
230
|
300
|
230
|
| |
Rental of machinery,
|
|
|
|
|
| |
|
equipment and motor vehicles payable to: |
|
|
|
|
| |
|
Third party |
2,636
|
1,025
|
1,556
|
706
|
| |
|
Subsidiary company (Note 18) |
-
|
-
|
2,625
|
844
|
| |
Provision for retirement benefits |
2,146
|
1,737
|
2,444
|
666
|
| |
Rental of premises |
2,088
|
2,097
|
1,756
|
721
|
| |
Property, plant and equipment written off |
1,607
|
240
|
1,171
|
219
|
| |
Loss on disposal of property, plant and equipment |
-
|
-
|
474
|
-
|
| |
Audit fee: |
|
|
|
|
| |
|
Auditors of the Company |
202
|
200
|
90
|
84
|
| |
|
Other auditors |
16
|
13
|
-
|
-
|
| |
Allowance for diminution in value of investment |
120
|
-
|
120
|
-
|
| |
Loss on disposal of investment in an associated company |
-
|
-
|
6,174
|
-
|
| |
Foreign exchange loss: |
|
|
|
|
| |
|
Realised |
-
|
1,628
|
-
|
1,908
|
| |
|
Unrealised |
-
|
647
|
-
|
392
|
| |
|
|
|
|
| And crediting: |
|
|
|
|
| |
Provision for relocation expenses no longer required: |
|
|
|
| |
|
Total provision |
13,000
|
-
|
13,000
|
-
|
| |
|
Less: Termination benefits due to restructuring exercise |
(4,956)
|
|
|
|
| |
|
|
|
|
|
| |
Net |
8,044
|
-
|
13,000
|
-
|
| |
Gain on disposal of property, plant and equipment |
1,797
|
3,863
|
-
|
2,101
|
| |
Gain on disposal of investment in an associated company |
686
|
-
|
-
|
-
|
| |
Rental income of machinery and equipment receivable from:
|
|
|
|
|
| |
|
Third party |
47
|
540
|
-
|
-
|
| |
|
Immediate holding company (Note 18) |
607
|
195
|
-
|
-
|
| |
Foreign exchange gain: |
|
|
|
|
| |
|
Realised |
187
|
-
|
56
|
-
|
| |
|
Unrealised |
340
|
-
|
340
|
-
|
| |
Rental of premises |
307
|
157
|
270
|
153
|
| |
Allowance for doubtful receivables no longer required |
94
|
1,875
|
-
|
-
|
| |
Allowance for inventories obsolescence no longer required
|
24
|
-
|
-
|
-
|
| |
Bad receivables recovered |
7
|
64
|
-
|
6
|
| |
|
|
|
|
|
Staff costs include salaries, bonuses, contributions to employees' provident
fund, retirement benefit and all other payroll costs.
7. FINANCE COSTS
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
| Interests on: |
|
|
|
|
| |
Short-term borrowings and others |
12
|
121
|
4
|
109
|
|
Hire-purchase |
151
|
397
|
124
|
350
|
| |
|
|
|
|
| |
163
|
518
|
128
|
459
|
| |
|
|
|
|
8. INCOME FROM OTHER INVESTMENTS
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
| Interest income: |
|
|
|
|
| |
Associated companies (Note 13) |
136
|
16
|
136
|
16
|
| |
Short-term deposits |
284
|
53
|
283
|
52
|
| |
Others |
5
|
8
|
2
|
5
|
| Income received from |
|
|
|
|
| |
subsidiary companies (Note 18) |
-
|
-
|
4,205
|
5,175
|
| Gross dividend from associated company |
-
|
-
|
558
|
558
|
| |
|
|
|
|
| |
425
|
77
|
5,184
|
5,806
|
| |
|
|
|
|
9. INCOME TAX EXPENSE
Income tax expense of the Group and of the Company are as follows:
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
| Current estimated tax payable |
2,810
|
4,397
|
1,100
|
1,740
|
| Deferred tax (Note 24) |
121
|
-
|
-
|
-
|
| (Over)/underprovision in prior years |
(582)
|
565
|
-
|
-
|
| Share of associated Company's |
|
|
|
|
| |
income tax expense |
-
|
166
|
-
|
-
|
| |
|
|
|
|
| Tax charge |
2,349
|
5,128
|
1,100
|
1,740
|
| |
|
|
|
|
The tax charge for the Group in 2002 and 2001 and the Company in 2002 and 2001
reflects an effective rate which is lower than the statutory tax rate due mainly
to investment incentives which are available for set off against part of the
income that would otherwise be taxable.
10. EARNINGS PER SHARE
| |
The Group
|
| |
2002
RM'000
|
2001
RM'000
|
| Basic |
|
|
| Net profit attributable to ordinary shareholders |
14,108
|
16,257
|
| |
|
|
| |
|
|
| |
Units
|
Units
|
| Weighted average number of ordinary shares in issue |
128,095,541
|
98,565,181
|
| |
|
|
| Basic earnings per share (sen) |
11.0
|
16.5
|
| |
|
|
|
|
