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1
BEKAS YANG DIPERTUA PAST PRESIDENTS
2
PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
5. Investment in subsidiaries
Institution
2018 2017
RM RM
Unquoted shares, at cost 200,000 200,000
Property, plant
Provision and equipment Total
RM RM RM
Deferred tax liabilities of the Group:
At 1 January 2018 - 13,997 13,997
Recognised in profit or loss 132,880 (13,029) 119,851
At 31 December 2018 132,880 968 133,848
7. Goodwill
Group
2018 2017
RM RM
Goodwill on consolidation 65,588 65,588
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PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
The amount due from a subsidiary is non-trade in nature, unsecured, interest-free and is repayable on demand.
9. Fixed deposits with licensed banks
Group Institution
2018 2017 2018 2017
RM RM RM RM
Maturities more than 3 months 3,767,799 2,266,546 2,782,571 616,996
Maturities less than 3 months 504,678 2,735,906 10,000 2,694,897
Less: Fixed deposits held in trust (986,819) (928,420) (986,819) (928,420)
Included in cash and bank balances of the Institution are RM57,093 (2017: RM35,999) held as deposits for arbitration cases.
The amount was deposited with licensed banks as fixed deposit to earn interest.
The effective interest rate of the fixed deposit ranges from 2.9% to 4.50% (2017: 1.53% to 4.50%) per annum. The maturity
of deposits as at the end of the financial year was between 1 month to 12 months (2017: 1 month to 12 months).
Transfer to:
- Capital reserve fund 11 (14,604) (14,604) (14,604) (14,604)
- Library fund 12 (63,944) (23,500) (63,944) (23,500)
- Building fund 13 (123,016) (198,430) (123,016) (198,430)
3,305,582 3,349,478
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PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
3,983,774 3,585,037
710,298 646,354
3,479,809 3,356,793
8,609 -
Non-current:
Amounts due to IEM Education Fund (Note (i)) 893,774 840,408 893,774 840,408
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PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
Group Institution
2018 2017 2018 2017
RM RM RM RM
Note (i)
Non-trade payables 1,220,772 1,078,206 1,220,772 1,078,206
Less: Amortised cost adjustment
At 1 January (234,671) (248,109) (234,671) (248,109)
Add: Current year adjustment 53,366 13,438 53,366 13,438
At 31 December (181,305) (234,671) (181,305) (234,671)
Representing:
Current 145,693 3,127 145,693 3,127
Non-current 893,774 840,408 893,774 840,408
The amount for the non-current portion represents unsecured and interest-free advances with amortised cost adjustment at
6.35% (2017: 6.35%) per annum, which is payable at the end of financial year 2020.
17. Borrowings
Group and Institution
Note 2018 2017
RM RM
Current
Term loan - secured 86,437 120,771
Non-current
Term loan - secured 1,273,128 1,315,423
1,359,565 1,436,194
Repayable within one year 86,437 120,771
Repayable between one to two years 92,858 120,771
Repayable between two to five years 321,948 362,314
Repayable more than five years 858,322 832,338
1,273,128 1,315,423
Total borrowings 1,359,565 1,436,194
2018 2017
Term loan Monthly Number of Date of Amount Amount
installment monthly installment commencement outstanding outstanding
of repayment
RM RM RM RM RM
1 1,217 240 January 2010 158,239 163,185
3 13,357 180 September 2014 1,201,326 1,273,009
1,359,565 1,436,194
Security
The term loans were secured via fixed charges over leasehold lands and buildings as mentioned in Note 3 to the financial
statements.
The term loans are subject to interest rates ranging from Base Lending Rate (“BLR”) -1.5% to BLR + 0.25%per annum (2017:
BLR -1.5% to BLR + 0.25% ) per annum.
At the reporting date, the BLR stood at 5.35% to 7.17% (2017: 6.72%) per annum.
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PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
The total number of employees of the Group and of the Institution at 31 December 2018 was 53 and 41 (2017: 48 and 40)
respectively.
180
PENYATA KEWANGAN UNTUK TAHUN FINANCIAL STATEMENTS FOR THE YEAR
BERAKHIR 31 DISEMBER 2018 ENDED 31ST DECEMBER 2018
(418,264) (463,150)
These regional branches are separately registered with the Registrar of Societies, and file their annual return including the
audited financial statements separately with the Registrar of Societies.
(22,060) (11,387)
181