| Arpak International Investment Limited |
|
|
|
| Annual
Report 2000 |
|
|
|
| CONTENTS |
|
|
| Company
Information |
|
| Notice
of the Annual General Meeting |
|
| Directors'
Report |
|
| Auditors'
Report to the Members |
|
| Balance
Sheet |
|
| Profit
and Loss Account |
|
| Cash
Flow Statement |
|
| Notes
to the Accounts |
|
| Pattern
of Shareholding |
|
|
|
| COMPANY
IN FORMATION |
|
|
| BOARD
OF DIRECTORS |
Begum Laila Sarfaraz |
|
|
Chief Executive |
|
|
Begum Zari Sarfaraz |
|
|
Mr. Aziz Sarfaraz Khan |
|
|
Ms. Najda Sarfaraz |
|
|
Mr. Iskander M. Khan |
|
|
Mr, Mohammad Rafiq Khan |
|
|
Mr. Abdul Qadar Khattak |
|
|
| COMPANY
SECRETARY |
Mr. Waheed Ahmed Khan |
|
|
| AUDITORS |
|
Hameed Chaudhri &
Co., |
|
|
Chartered Accountants |
|
|
| REGISTERED
OFFICE |
20-A, Markaz F-7, |
|
|
Islamabad. |
|
|
|
| NOTICE
OF THE ANNUAL GENERAL MEETING |
|
|
| Notice
is hereby given that the 23rd Annual General Meeting of the Arpak
International Investments |
| Limited,
will be held on Saturday, 30th December, 2000 at 9:00 A.M. at the registered
office of the |
|
| Company
at 20-A, Markaz F-7, Islamabad, to transact the following business: |
|
|
| 1.
To confirm the Minutes of the 22nd Annual General Meeting held on 30'h
December, 1999. |
|
|
| 2.
To receive, consider and adopt the Audited Balance Sheet and Profit &
Loss Account for the year |
| ended
30th June, 2000 alongwith Auditors' Report and Directors' Report thereon. |
|
|
| 3.
To appoint Auditors of the Company for the financial year 2000-2001 and to
fix their |
|
| remuneration.
The outgoing auditors, Messrs. Hameed Chaudhri & Co., Chartered
Accountants, |
|
| being
eligible offer themselves for re-appointment. |
|
|
| 4.
To elect the Directors of the Company for a period of three years commencing
from the date of |
|
| election,
vide Section 178 of the Companies Ordinance 1984, in that: |
|
|
| a. Pursuant to Section 178(1) and (2) (a) of
the Companies Ordinance 1984, the Board of |
|
| Directors
through a Resolution passed in the Meeting of the Board of Directors held on |
|
| 25th
November 2000, have fixed the number of Directors at seven. |
|
|
| b.
Pursuant to Section 178(2)(b) and (3) of the Companies Ordinance 1984, names
of the |
|
| retiring
Directors are as under: |
|
|
| (i) |
Begum Zari Sarfaraz |
|
| (ii) |
Mr. Aziz Sarfaraz Khan |
|
| (iii) |
Begum Laila Sarfaraz |
|
| (iv) |
Ms. Najda Sarfaraz |
|
| (v) |
Muhammad Rafiq Khan |
|
| (vi) |
Mr. Iskander M. Khan |
|
| (vii) |
Mr. Abdul Qadar Khattak |
|
|
| Any
person who seeks to contest election for the office of a Director may file
his nomination |
|
| papers
with the Secretary of the Company not later than 16th December, 2000. The
retiring |
|
| Directors
shall be eligible for re-election. |
|
|
| 5.
To transact any other ordinary business of the Company as may be permitted by
the Chair. |
|
|
| The
share transfer Books of the Company will remain closed from 20th December,
2000 |
|
| to
30th December, 2000 (both days inclusive). |
|
|
|
BY ORDER OF THE BOARD |
|
|
| ISLAMABAD, |
|
WAHEED AHMED KHAN |
|
| December
8, 2000 |
|
Company Secretary |
|
|
|
|
|
| NOTE: |
|
| I.
Member unable to attend in person may kindly send proxy form attached with
the Balance Sheet |
|
| signed
and witnessed to the Company at least 48 hours before the time of the
meeting. No |
|
| person
shall act as proxy unless he is entitled to be present and vote in his own
right. |
|
|
| II.
Members are requested to notify any change in address immediately. |
|
|
| III.
C.D.C shareholders desiring to attend the meeting are requested to bring
their original National |
| Identity
Cards, Account and participants I.D numbers, for identification purpose, and
in case of |
|
| proxy,
to enclose an attested copy of his/her National Identity Card. |
|
|
|
| DIRECTORS'
REPORT |
|
| FOR
THE YEAR ENDED 30TH JUNE, 2000 |
|
|
| We
are pleased to present before you Twenty third Annual Audited Report of the |
|
| Company
for the year ended on 30th June, 2000. |
|
|
| ACCOUNT: |
|
| The
Company made pre-tax net profit of Rs. 10,905,268 for the year. After
providing |
|
| Rs.
259,705 in respect of taxation. The balance of Rs. 10,645,563 have been shown |
|
| as
unappropriated profit. The Company has general reserves of Rs. 5.400 million |
|
| and
Capital Reserves of Rs. 7.441 million at the end of the year. |
|
|
| The
Company presently holds cash resources of Rs. 61,994,114 against the paid up |
|
| capital
of Rs. 40.00 million. Out of these funds Rs. 53..680 million are lying in
saving |
|
| accounts. |
|
|
| DIVIDENDS: |
|
| Directors
recommend dividend of 12% for the year under review. |
|
|
| AUDITORS: |
|
| The
present auditors Messrs. Hameed Chaudhri & Co., Chartered Accountants |
|
| retire
and being eligible offer themselves for re-appointment for the year ending |
|
| 30th
June, 2001. |
|
|
| PATTERN
OF SHAREHOLDING: |
|
| Pattern
of Shareholding of the company is annexed. |
|
|
|
ON BEHALF OF THE BOARD |
|
|
| ISLAMABAD, |
|
BEGUM ZARI SARFARAZ |
|
| November
25, 2000 |
|
Chair-Person |
|
|
|
| AUDITORS'
REPORT TO THE MEMBERS |
|
|
| We
have audited the annexed Balance Sheet of ARPAK INTERNATIONAL INVESTMENTS |
|
| LIMITED
as at 30~h June, 2000 and the related Profit and Loss Account, Cash Flow |
|
| Statement,
and statement of changes in equity together with the notes forming part
thereof, |
|
| for
the year then ended and we state that we have obtained all the information
and |
|
| explanations
which, to the best of our knowledge and belief, were necessary for the |
|
| purposes
of our audit. |
|
|
| it
is the responsibility of the company's management to establish and maintain a
system of |
|
| internal
control, and prepare and present the above said statements in conformity with
the |
|
| approved
accounting standards and the requirements of the Companies Ordinance, 1984. |
|
| Our
responsibility is to express an opinion on these statements based on our
audit. |
|
|
| We
conducted our audit in accordance with the auditing standards as applicable
in Pakistan. |
|
| These
standards require that we plan and perform the audit to obtain reasonable
assurance |
|
| about
whether the above said statements are free of any material misstatement. An
audit |
|
| includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the |
|
| above
said statements. An audit also includes assessing the accounting policies and |
|
| significant
estimates made by management, as well as, evaluating the overall presentation |
|
| of
the above said statements. We believe that our audit provides a reasonable
basis for our |
|
| opinion
and, after due verification, we report that: |
|
|
| (a)
in our opinion, proper books of accounts have been kept by the Company as |
|
| required
by the Companies Ordinance, 1984; |
|
|
| (b)
in our opinion: |
|
|
| (i)
the balance sheet and profit and loss account together with the notes thereon |
|
| have
been drawn up in conformity with the Companies Ordinance, 1984, and |
|
| are
in agreement with the books of account and are further in accordance |
|
| with
accounting policies consistently applied; |
|
|
| (ii)
the expenditure incurred during the year was for the purpose of the |
|
| Company's
business; and |
|
|
| (iii)
the business conducted, investments made and the expenditure incurred |
|
| during
the year were in accordance with the objects of the Company; |
|
|
| (c)
in our opinion and to the best of our information and according to the
explanations |
|
| given
to us, the Balance Sheet, Profit and Loss Account, Cash Flow Statement and |
|
| statement
of changes in equity together with the notes forming part thereof conform |
|
| with
approved accounting standards as applicable in Pakistan, and, give the |
|
| information
required by the Companies Ordinance, 1984, in the manner so required |
|
| and
respectively give a true and fair view of the state of the Company's affairs
as at |
|
| 30th
June, 2000 and of the profit, its cash flows and changes in equity for the
year |
|
| then
ended; and |
|
|
| (d)
in our opinion Zakat deductible at source under the Zakat and Ushr Ordinance,
1980 |
|
| (XVIII
of 1980), was deducted by the Company and deposited in the Central Zakat |
|
| Fund
established under Section 7 of that Ordinance. |
|
|
| LAHORE, |
|
HAMEED CHAUDHRI &
CO., |
|
| November
27, 2000 |
|
CHARTERED ACCOUNTANTS |
|
|
|
| BALANCE
SHEET |
|
| AS
AT 30TM JUNE, 2000 |
|
|
|
|
|
|
2000 |
1999 |
|
|
|
|
|
Note |
Rupees |
Rupees |
|
| CAPITAL
AND RESERVES |
|
| Authorised
capital: |
|
| 5,000,000
ordinary shares |
|
| of
Rs. 10 each |
|
50,000,000 |
50,000,000 |
|
|
========== |
========== |
|
| Issued,
subscribed and |
|
| paid
up capital: |
|
| 4,000,000
ordinary shares of |
|
| Rs.
10 each issued for cash |
|
40,000,000 |
40,000,000 |
|
| Capital
reserve |
|
3 |
7,440,781 |
7,440,781 |
|
| General
reserve |
|
5,400,000 |
5,400,000 |
|
| Unappropriated
profit |
|
28,446,226 |
22,600,663 |
|
|
----------- |
----------- |
|
|
|
81,287,007 |
75,441,444 |
|
| SHARES
APPLICATION |
|
| MONEY |
|
4 |
202,167 |
202,167 |
|
|
| CURRENT
LIABILITIES |
|
| Accruals
and other |
|
| payables |
|
5 |
188,750 |
45,300 |
|
| Provision
for taxation |
|
6 |
1,147,725 |
888,020 |
|
| Proposed
dividend |
|
4,800,000 |
2,000,000 |
|
| Unclaimed
dividend |
|
393,901 |
275,359 |
|
|
----------- |
----------- |
|
|
6,530,376 |
3,208,679 |
|
|
| CONTINGENCIES
AND |
|
| COMMITMENTS |
|
7 |
-- |
-- |
|
|
----------- |
----------- |
|
|
88,019,550 |
78,852,290 |
|
|
|
========== |
========== |
|
|
|
| TANGIBLE
FIXED ASSETS |
|
8 |
8,097,692 |
8,261,974 |
|
|
| LONG TERM INVESTMENTS |
|
9 |
14,913,490 |
16,544,600 |
|
|
| SECURITY
DEPOSITS |
|
50,000 |
0 |
|
|
| CURRENT
ASSETS |
|
| Advances
and other |
|
| receivables |
|
10 |
2,964,254 |
2,657,775 |
|
| Cash
at Banks and |
|
|
|
| Savings
Centre |
|
11 |
61,994,114 |
51,387,941 |
|
|
------------ |
------------ |
|
|
64,958,368 |
54,045,716 |
|
|
|
------------ |
------------ |
|
|
|
88,019,550 |
78,852,290 |
|
|
|
========== |
========== |
|
| The
annexed notes form an integral part of these accounts. |
|
|
|
Director |
|
Director |
|
Chief Executive |
|
|
|
| PROFIT
AND LOSS ACCOUNT |
|
| FOR
THE YEAR ENDED 30TM JUNE, 2000 |
|
|
|
|
2000 |
1999 |
|
|
Note |
Rupees |
Rupees |
|
|
| INCOME |
|
12 |
9,958,553 |
6,832,542 |
|
| OPERATING
EXPENSES |
|
13 |
1,951,325 |
1,417,344 |
|
|
|
|
----------- |
----------- |
|
| OPERATING
PROFIT |
|
|
8,007,228 |
5,415,198 |
|
| PROVISION
FOR DIMINUTION IN |
|
|
|
|
| VALUE
OF INVESTMENTS - Written - back |
|
3,095,219 |
0 |
|
|
|
----------- |
----------- |
|
|
|
11,102,447 |
5,415,198 |
|
| OTHER
CHARGES AND PROVISIONS |
|
|
|
|
| Bank
Charges |
|
|
13,819 |
3,966 |
|
| Miscellaneous |
|
14 |
183,360 |
257,653 |
|
| Provision
for diminution in value of investments |
|
0 |
3,118,267 |
|
|
|
----------- |
----------- |
|
|
|
197,179 |
33,791,886 |
|
|
|
----------- |
----------- |
|
| PROFIT
BEFORE TAXATION |
|
|
10,905,268 |
2,035,312 |
|
| PROVISION
FOR TAXATION |
|
6 |
259,705 |
63,890 |
|
|
|
|
----------- |
----------- |
|
| PROFIT
AFTER TAXATION |
|
|
10,645,563 |
1,971,422 |
|
| UNAPPROPRIATED
PROFIT |
|
|
|
| -
Brought forward |
|
|
22,600,663 |
22,629,241 |
|
|
|
----------- |
----------- |
|
| PROFIT
AVAILABLE FOR APPROPRIATION |
|
33,246,226 |
24,600,663 |
|
|
|
|
| APPROPRIATION: |
|
|
|
|
|
|
| Proposed
dividend @ 12% (1999: @ 5%) |
|
|
4,800,000 |
2,000,000 |
|
|
|
----------- |
----------- |
|
| UNAPPROPRIATED
PROFIT |
|
|
|
| -
Carried to Balance Sheet |
|
|
28,446,226 |
22,600,663 |
|
|
|
========== |
========== |
|
| EARNINGS
PER SHARE |
|
15 |
2.66 |
0.49 |
|
|
========== |
========== |
|
| The
annexed notes form an integral part of these accounts. |
|
|
|
Director |
|
Director |
|
Chief Executive |
|
|
|
|
| STATEMENT
OF CHANGES IN EQUITY |
|
| FOR
THE YEAR ENDED 30TM JUNE, 2000 |
|
|
| Particulars |
|
Share |
Capital |
General |
Unappropriated |
|
|
Capital |
Reserve |
Reserve |
Profit |
Total |
|
|
(Rupees) |
|
| Balance
as at June 30, 1998 |
|
40,000,000 |
7,440,781 |
5,400,000 |
22,629,241 |
75,470,022 |
| Profit
for the year ended 30 June, 1999 |
0 |
0 |
0 |
1,971,422 |
1,971,422 |
| Proposed
dividend |
|
0 |
0 |
0 |
(2,000,000) |
(2,000,000) |
|
------------ |
------------ |
------------ |
------------ |
------------ |
| Balance
as at June 30, 1999 |
|
40,000,000 |
7,440,781 |
5,400,000 |
22,600,663 |
75,441,444 |
| Profit
for the year ended 30 June, 2000 |
0 |
0 |
0 |
10,645,563 |
10,645,563 |
| Proposed
dividend |
|
0 |
0 |
0 |
(4,800,000) |
(4,800,000) |
|
------------ |
------------ |
------------ |
------------ |
------------ |
| Balance
as at June 30, 2000 |
|
40,000,000 |
7,440,781 |
5,400,000 |
28,446,226 |
81,287,007 |
|
========== |
========== |
========== |
========== |
========== |
|
|
|
Director |
|
Director |
|
Chief Executive |
|
|
|
|
|
|
| CASH
FLOW STATEMENT |
|
| FOR
THE YEAR ENDED 30TM JUNE, 2000 |
|
|
|
2000 |
1999 |
|
|
Rupees |
Rupees |
|
|
| CASH
OUTFLOW FROM OPERATING ACTIVITIES |
|
| -
After taxation (note "A") |
|
(1,203,985) |
(1,976,925) |
|
|
| CASH
FLOW FROM INVESTING ACTIVITIES |
|
|
| Sale
proceeds of Shares |
|
4,353,750 |
0 |
|
| Dividend
received |
|
4,777,800 |
1,277,800 |
|
| Interest/Profit
received |
|
4,561,696 |
5,493,789 |
|
| (Decrease)/increase
in term deposits due |
|
|
|
| to
exchange rate fluctuations |
|
(1,630) |
86,968 |
|
|
------------ |
------------ |
|
| CASH
INFLOW FROM INVESTING ACTIVITIES |
|
13,691,616 |
6,858,557 |
|
|
| CASH
OUTFLOW FROM FINANCING ACTIVITIES |
|
| -
Dividend paid |
|
(1,881,458) |
(1,976,106) |
|
| NET
INCREASE IN CASH AND CASH EQUIVALENTS |
10,666,173 |
2,905,526 |
|
|
------------ |
------------ |
|
| CASH
AND CASH EQUIVALENTS |
|
| -
At the beginning of the year |
|
51,387,941 |
48,482,415 |
|
|
------------ |
------------ |
|
| CASH
AND CASH EQUIVALENTS |
|
|
|
| -
At the end of the year |
|
61,994,114 |
51,387,941 |
|
|
========== |
========== |
|
|
| NOTE "A" |
|
|
| CASH
FLOW FROM OPERATING ACTIVITIES |
|
| Profit
for the year - Before taxation |
|
10,905,268 |
2,035,312 |
|
| Adjustments
for: |
|
|
|
| Depreciation |
|
164,282 |
174,610 |
|
| Dividend
income |
|
(4,777,800) |
{1,277,800) |
|
| Provision
for diminution in value of investments |
|
(3,095,219) |
3,118,267 |
|
| Loss
on sale of shares |
|
372,579 |
0 |
|
| Interest/profit
on bank deposits and |
|
|
|
| saving
accounts |
|
(4,685,753) |
(5,467,774) |
|
| Receivable
balances written - off |
|
0 |
100,000 |
|
| Exchange
loss/(gain) on term deposits |
|
1,630 |
(86,968) |
|
|
------------ |
------------ |
|
| CASH
OUTFLOW FROM OPERATING ACTIVITIES |
|
| -
Before working capital changes |
|
(1,115,013) |
(1,404,353) |
|
| (Increase)/Decrease
in current assets: |
|
| Due
from Associated Undertakings |
|
(115,485) |
(406,313) |
|
| Advance
to an employee |
|
(4,101) |
(5,899) |
|
| Security
deposits |
|
(50,000) |
0 |
|
| Increase/(Decrease)
in |
|
| accruals
and other payables |
|
143,450 |
(151,831 ) |
|
|
------------ |
------------ |
|
|
(26,136) |
(564,043) |
|
|
------------ |
------------ |
|
| CASH
OUTFLOW FROM OPERATING ACTIVITIES |
|
| -
Before taxation |
|
(1,141,149) |
(1,968,396) |
|
| Taxes paid |
|
(62,836) |
(8,529) |
|
|
------------ |
------------ |
|
| CASH
OUTFLOW FROM OPERATING ACTIVITIES |
|
| -
After taxation |
|
(1,203,985) |
(1,976,925) |
|
|
========== |
========== |
|
| The
annexed note "A" forms an integral part of this Statement. |
|
|
|
Director |
|
Director |
|
Chief Executive |
|
|
|
|
| NOTES
TO THE ACCOUNTS |
|
| FOR
THE YEAR ENDED 30TM JUNE, 2000 |
|
|
| THE
COMPANY AND ITS OPERATIONS |
|
| The
Company was incorporated in Pakistan on 26'h July, 1977 as Public Company |
|
| and
its shares are quoted on Lahore and Karachi Stock Exchanges: The Company |
|
| is
evaluating certain proposals for setting-up some Business Undertaking. |
|
|
| SIGNIFICANT
ACCOUNTING POLICIES |
|
| 2.1 Basis of Preparation |
|
| These
accounts have been prepared in accordance with the requirements of |
|
| the
Companies Ordinance, 1954 and International Accounting Standards as |
|
| applicable
in Pakistan in all material respects. |
|
|
| 2.2
Accounting Convention |
|
| These
accounts have been prepared under the historical cost convention |
|
| modified
by adjustments of exchange rate fluctuations as referred to in note 2.6. |
|
|
| 2.3 Taxation |
|
|
| Provision
for current taxation is made on taxable income for the year, if any, |
|
| after
taking into account tax rebates and brought forward losses. |
|
|
| 2.4
Tangible Fixed Assets and Depreciation |
|
| These
are stated at cost less accumulated depreciation except freehold land |
|
| which
is stated at cost. |
|
|
| Depreciation
is charged applying reducing balance method at the rates |
|
| stated
in note 8 to write-off the cost over estimated remaining useful life of |
|
| assets.
No depreciation is charged on assets in the year of disposal whereas |
|
| full
year's depreciation is provided in the year of purchase. |
|
|
| Gain/loss
on disposal of fixed assets is taken to Profit and Loss Account. |
|
| Minor
repairs and replacements are taken to Profit and Loss Account. Major |
|
| improvements
and modifications are capitalised and assets replaced, if any, |
|
| are retired. |
|
|
| 2.5
Long Term Investments |
|
| Investments
purchased by the Company are stated at lower of cost and |
|
| market
value. Investments received as dividend are accounted for at Face |
|
| Value.
Gain/loss on sale of investments is taken to Profit and Loss Account. |
|
|
| 2.6
Foreign Currency Translations |
|
| Assets
and liabilities in foreign currencies are translated into Pak Rupees |
|
| applying
exchange rates ruling on the balance sheet date. Exchange |
|
| gains/losses
are taken to Profit and Loss Account. |
|
|
| 2.7
Revenue recognition |
|
| -
Return on deposits and rental income are accounted for on |
|
| "Accrual
Basis". |
|
| -
Dividend income is recognised when the right to receive it is established. |
|
|
| 3.
CAPITAL RESERVE |
|
2000 |
1999 |
|
|
Rupees |
Rupees |
|
|
| Gain
on sale of land |
|
6,839,256 |
6,839,256 |
|
| Gain
on sale of investments |
|
601,525 |
601,525 |
|
|
------------ |
------------ |
|
|
7,440,781 |
7,440,781 |
|
|
========== |
========== |
|
|
|
|
| 4.
SHARES APPLICATION MONEY |
|
| This
represents shares money received by Pakpor Ceramics Limited whose assets |
|
| and
liabilities were taken-over by the Company during 1978. |
|
|
| 5.
ACCRUALS AND OTHER PAYABLES |
|
| Accrued
expenses |
|
33,400 |
45,300 |
|
| Due
to an Associated Undertaking |
|
20,350 |
0 |
|
| Security
deposit - refundable |
|
90,000 |
0 |
|
| Advance
Rent |
|
45,000 |
0 |
|
|
------------ |
------------ |
|
|
188,750 |
45,300 |
|
|
========== |
========== |
|
|
|
|
| 6.
PROVISION FOR TAXATION |
|
| Opening
balance |
|
888,020 |
824,130 |
|
| Add:
Provision made during the year |
|
259,705 |
63,890 |
|
|
------------ |
------------ |
|
|
1,147,725 |
888,020 |
|
|
========== |
========== |
|
| 6.1
Income tax assessments of the Company have been completed upto the |
|
| Income
Year ended 30'h June, 1998 (Assessment Year 1998-99). |
|
|
| 6.2
The Assessing Officer for the Assessment Years 1996-97 to 1998-99 has |
|
| raised
tax demands aggregating Rs. 1,893,100 against which provisions |
|
| aggregating
Rs. 280,000 exist in the accounts. Provision for the balance |
|
| demands
amounting Rs. 1,613,100 has not been made in these accounts as |
|
| the
Commissioner of Income Tax (Appeals) has set aside the assessments |
|
| for
these years for denovo consideration. |
|
|
| 6.3
Income Tax Department had filed before the High Court Reference |
|
| Application/Appeals
for the Assessment Years 1988-89 to 1990-91 on the |
|
| question
of Zakat. The Reference/Appeals are pending for decision. |
|
|
| 6.4
The Income Tax Recovery Officer (ITRO) for the Assessment Years 1996-97 |
|
| and
1997-98 raised penalty demands aggregating Rs.5,173,200 on the |
|
| grounds
of non-filing of statements under sections 139, 141 and 142 of the |
|
| Income
Tax Ordinance, 1979. The Commissioner of Income Tax (Appeals) |
|
| has
set aside the said penalty order and the matter is pending with the |
|
| concerned
officer. |
|
|
| 7.
CONTINGENCIES AND COMMITMENTS |
|
| 7.1
Refer contents of notes 6.2 and 6.4. |
|
| 7.2
No commitment was outstanding as at 30th June, 2000 and 1999. |
|
|
| 8.
TANGIBLE FIXED ASSETS |
|
|
COST |
DEPRECIATION |
NET BOOK |
| PARTICULARS |
As at |
|
To |
|
To |
VALUE |
|
30 June, |
Rate |
30 June, |
For the |
30 June, |
AS AT |
|
2000 |
% |
1999 |
Year |
2000 |
30 JUNE, 2000 |
| Freehold
land |
5,111,350 |
0 |
0 |
0 |
0 |
5,111,350 |
| Buildi |
