X hits on this document

197 views

0 shares

0 downloads

0 comments

58 / 74

YIKON

Notes to the Financial Statements (cont’d)

CORPORATION BHD

(527272-V)

20.

LONG TERM BORROWINGS (cont’d)

The term loans are secured by way of:

  • (i)

    facility agreement for RM4,000,000/- of the Company;

  • (ii)

    corporate guarantee by the Company;

  • (iii)

    negative pledge on all assets of a subsidiary; and

  • (iv)

    corporate guarantee by a subsidiary

21

TRADE PAYABLES

Included in the trade payable is an amount of RM4,066,000/- (2008: RM11,780,000/-) representing gold loan facilities granted by a gold bullion trader. The gold loan bears interest at a rate of 3.75% (2008: 0.5% to 4.25%) and secured by the followings:

  • a)

    monies amounting to sum of not less than 110% of the market value of gold loaned at any one time is to be earmarked against Standby Letter of Credit/ advance payment or any other tangible security, whichever is applicable; and

  • b)

    corporate guarantee for RM24,200,000/- by the Company.

The foreign currency profile of trade payables are as follows:-

Group 2009 RM

2008 RM

4,066,000

11,765,704

720,444

39,933

Ringgit Malaysia Renminbi

4,786,444

11,805,637

2,915,216 1,173,140

5,856,779 1,887,863

36,845 195,537

34,833 257,440

4,088,356

7,744,642

232,382

292,273

2009

2008

2009

2008

RM

RM

RM

RM

Company

Other payables Accruals

Group

22.

OTHER PAYABLES AND ACCRUALS

Included in the other payables is an amount of RM2,442,889/- (2008: RM5,175,663/-) representing a gold margin trading account maintained with Standard Bank London Limited by Yikon (H.K.) Limited, a wholly owned subsidiary of the Company.

Annual Report 2009

Document info
Document views197
Page views197
Page last viewedFri Dec 09 16:34:52 UTC 2016
Pages74
Paragraphs3772
Words24968

Comments