APL INTERNATIONAL INCORPORATED LTD

As at 31.08.2005

MANUFACTURING ACCOUNT

YEAR - TO - DATE
USD

Jul-05

Aug-05

USD

USD

* * RAW MATERIALS

OPENING STOCKS - CHEMICALS

PURCHASE - CHEMICALS
CLOSING STOCKS - CHEMICALS

OPENING STOCKS - LATEX

202,992.00
13,224.00

202,992.00
-

147,874.00
13,224.00

(110,233.00)

(147,874.00)

(110,233.00)

105,983.00

55,118.00

50,865.00

74,981.00

74,981.00

56,553.00

555,625.00

248,000.00

307,625.00

(127,881.00)

(56,553.00)

(127,881.00)

502,725.00

266,428.00

236,297.00

OPENING STOCKS - PACKING MATERIALS

24,506.00

24,506.00

18,480.00

PURCHASE - PACKING MATERIALS

52,935.26

29,953.34

22,981.92

(21,516.00)

(18,480.00)

(21,516.00)

55,925.26

35,979.34

19,945.92

75,200.68

39,264.28

35,936.40

8,843.12

4,301.40

4,541.72

84,043.80

43,565.68

40,478.12

PURCHASE - LATEX
CLOSING STOCKS - LATEX

CLOSING STOCKS - PACKING MATERIALS

* * DIRECT LABOUR

BUS TRANSPORT EXPENSES

SALARY AND WAGES
MEDICAL & SOCIAL INSURANCE
MEDICAL FEES
INCENTIVES
HRD LEVY
CONTRACT WAGES
LEVY PROCESSING CHARGES

APL INTERNATIONAL INCORPORATED LTD

01/07/2005 - 31/08/2005

MANUFACTURING ACCOUNT

YEAR - TO - DATE

As at 31.07.05

Aug-05

USD

USD

USD

* * FACTORY OVERHEADS

FORMERS PURCHASES

INDIRECT CHEMICAL - WATER TREAMENT PLANT

INSURANCE

85.31

85.31

UNIFORM
WATER CHARGES
ELECTRICITY CHARGES
UPKEEP - FACTORY
UPKEEP - ELECTRICAL FITTINGS

5,541.10

3,573.17

1,967.93

79,666.00

39,233.47

40,432.53

7,016.08

240.60

6,775.48

DEPRECIATION

98,563.00

49,149.00

49,414.00

UPKEEP BOILER

6,779.52

1,845.09

4,934.43

TRANSPORTATION CHARGES

4,411.89

689.68

3,722.21

TESTING / INSPECTION EXPENSES

UPKEEP - PLANT & MACHINERY

11,127.90

3,510.16

7,617.74

WEIGHING CHARGES

INDIRECT CHEMICAL - BOILER CHEMICALS

RENTAL OF MACHINERY / BACKHOE

308.22

35.98

272.24

213,499.02

98,277.15

115,221.87

UPKEEP - LABORATORY

OPENING STOCKS - PALM SHELL, FIREWOOD & COAL

PALM SHELL & FIRE WOOD
CLOSING STOCKS - PALM SHELL, FIREWOOD & COAL

7,299.00

7,299.00

17,951.00

162,790.01

57,784.91

105,005.10

(35,713.00)

(17,951.00)

(35,713.00)

134,376.01

47,132.91

87,243.10

OPENING STOCKS - CONSUMABLES

CLOSING STOCKS - CONSUMABLES

OPENING STOCKS - WIP LATEX

CLOSING STOCKS - WIP LATEX

OPENING STOCKS - WIP CHEMICALS

CLOSING STOCKS - WIP CHEMICALS

* * WORK - IN - PROGRESS

COST OF GOODS PRODUCED

1,096,552.09

546,501.08

550,051.01

APL INTERNATIONAL INCORPORATED LTD

TRADING AND PROFIT & LOSS ACCOUNT
01/07/2005 - 31/08/2005

SALES
EXPORT SALES (PF)
EXPORT SALES (PG)

YEAR - TO - DATE

As at 31.07.05

Aug-05

USD

USD

USD

809,350.00
809,350.00

LOCAL SALES (PF)

LOCAL SALES (PG)

430,650.00

378,700.00

430,650.00

378,700.00

61,492.40

28,346.20

33,146.20

61,492.40

28,346.20

33,146.20

SALES - CHLORINATION CHARGES

SALES - SCRAP / MISC

RETURN INWARDS

DISCOUNT ALLOWED

870,842.40

458,996.20

411,846.20

586,999.00

586,999.00

680,870.00

1,096,552.09

546,501.08

550,051.01

COST OF GOODS SOLD

OPENING STOCKS - FINISHED GOODS

MANUFACTURING ACCOUNT
PURCHASE - GLOVES

1,683,551.09

CLOSING STOCKS - FINISHED GOODS

GROSS PROFIT / (LOSS)

1,133,500.08

1,230,921.01

(767,492.00)

(680,870.00)

(767,492.00)

916,059.09

452,630.08

463,429.01

(45,216.69)

6,366.12

(51,582.81)

OVERDUE INTEREST INCOME

FIXED DEPOSIT INTEREST

234.63

13.07

221.56

GAIN / (LOSS) - FOREIGN EXCHANGE ( REALISED)

GAIN / (LOSS) - FOREIGN EXCHANGE ( UNREALISED)
RENTAL OF CANTEEN
SALES OF SCRAP
SUNDRY INCOME

234.63

13.07

221.56

63,371.51

31,547.79

31,823.72

EXPENSES

OTHER EXPENSES
ADMIN AND GENERAL EXPENSES
SELLING AND DISTRIBUTION EXPENSES
FINANCIAL EXPENSES

NET PROFIT / (LOSS)

4,105.48

2,058.47

2,047.01

59,743.82

4,568.50

55,175.32

127,220.81

38,174.76

89,046.05

(172,202.87)

(31,795.57)

(140,407.30)

TAXATION

TAXATION

NET PROFIT / (LOSS) AFTER TAXATION

(172,202.87)

(31,795.57)

(140,407.30)

RETAINED PROFIT / (LOSS) B / F

(1,929,552.58)

(1,929,552.58)

(1,961,348.15)

RETAINED PROFIT / (LOSS) C / F

(2,101,755.45)

(1,961,348.15)

(2,101,755.45)

APL INTERNATIONAL INCORPORATED LTD

ADMIN AND GENERAL EXPENSES

YEAR - TO - DATE

As at 31.07.05

Aug-05

USD

USD

USD

AUDITOS' REMUNERATION

ADVERTISEMENT

ANG POW / INCENTIVE

933.18

708.00

BANK CHARGES

1,641.18

BANK GUARANTEE COMMISSION

CONSULTANCY FEES

CONTRIBUTION AND DONATION

928.00

464.00

464.00

DEPRECIATION
DIRECTORS' SALARY

DIRECTORS' EPF

ELECTRICITY

STAFF WELFARE

ENTERTAINMENT & REFRESHMENT

FILLING & STAMPING FEES
FINE AND PENALTY
GREETING & CONDOLENCE
LEGAL FEE
LC CHARGES

320.01

134.79

185.22

13.10

13.10

116.79

116.79

99.73

99.73

MEDICAL FEES

178.13

INSPECTION FEE

284.06

178.13
284.06

PRINTING & STATIONERY

1,889.82

1,389.51

500.31

OFFICE EXPENSES

2,156.55

1,361.31

795.24

POSTAGE & COURIER

222.60

135.20

87.40

PRAYING EXPENSES

145.33

2.53

142.80

386.43

202.62

183.81

REGISTRATION FEES

WORKERS' HOUSE RENTAL

REPAIR & MAINTAINANCE

SECRETARIAL FEES

SUNDRY EXPENSES

262.38

205.88

56.50

12,218.73

6,157.89

6,060.84

1,281.80

632.60

649.20

1,477.18

1,477.09

QUIT RENT & ASSESSMENT

RENTAL OF OFFICE EQUIPMENT

SALARIES / WAGES AND ALLOWANCES

SOCIAL & MEDICAL INSURANCE
SOCSO
SERVICE TAX
SECURITY CHARGES
STAMP DUTY
TRANSPORT

2,954.27
-

TRAVELLING EXPENSES

3,699.27

488.05

3,211.22

TELEPHONE & TELEX CHARGES

1,597.49

1,245.51

351.98

16,487.92

16,487.92

TRAINING FEE
LAND RENTAL

32,975.84

UPKEEP - OFFICE EQUIPMENT

UPKEEP - OFFICE

MONEY INSURANCE

WATER CHARGES

63,371.51

31,547.79

31,823.72

APL INTERNATIONAL INCORPORATED LTD

YEAR - TO - DATE

As at 31.07.05

Aug-05

USD

USD

USD

SELLING AND DISTRIBUTION EXPENSES

FORWARDING & FREIGHT CHARGES

4,105.48

2,058.47

2,047.01

SALES COMMISSION
MARINE CARGO INSURANCE

MARINE CARGO - STAMP DUTY

CARRIAGE OUTWARDS

4,105.48

2,058.47

2,047.01

APL INTERNATIONAL INCORPORATED LTD

YEAR - TO - DATE

As at 31.07.05

Aug-05

USD

USD

USD

FINANCIAL EXPENSES

REVOLVING CREDIT INTEREST

BANKERS' ACCEPTANCES INTEREST
HIRE PURCHASE INTEREST
TERM LOAN INTEREST
DIFFERENCE EXCHANGE RATE
OVERDUE INTEREST

13,202.85

4,348.64

38,266.62
-

8,854.21

38,266.62
-

8,274.35

219.86

8,054.49

59,743.82

4,568.50

55,175.32

APL INTERNATIONAL INCORPORATED LTD

YEAR - TO - DATE

TAXATION

TAXATION

DEFERRED TAXATION

As at 31.07.05

Aug-05

APL INTERNATIONAL INCORPORATED LTD

BALANCE SHEET
As at 31.08.2005

Note
FIXED ASSETS
FIXED ASSETS

8/31/2005
USD

31/07/05
USD

9,818,781.72

9,839,041.00

1,021,723.00
723,361.37
33,350.00
634,197.12
199,274.93
1,446.03
2,613,352.45

880,616.00
442,760.20
33,350.00
378,726.93
503,151.77
10,749.82
2,249,354.72

828,296.11
479,137.92
5,071,994.68
2,668,212.77
9,047,641.48

780,971.48
479,137.92
5,000,214.94
2,303,171.39
8,563,495.73

(6,434,289.03)

(6,314,141.01)

3,384,492.69

3,524,899.99

3,165,000.00
(2,101,755.45)
1,063,244.55

3,165,000.00
(1,961,348.15)
1,203,651.85

2,321,248.14

2,321,248.14

2,321,248.14

2,321,248.14

3,384,492.69

3,524,899.99

CURRENT ASSETS
STOCKS
TRADE DEBTORS
AMOUNT OWING FROM RELATED COMPANIES
OTHER DEBTORS, DEPOSITS & PREPAYMENT
FIXED DEPOSITS
CASH AT BANK
CASH IN HAND

9
3

CURRENT LIABILITIES

TRADE CREDITORS
OTHER CREDITORS & ACCRUALS
AMOUNT OWING TO RELATED COMPANIES
AMOUNT OWING TO HOLDING COMPANIES
SHORT TERM BORROWING

4
6
5
7

NET CURRENT ASSETS / (LIABILITIES)

FINANCED BY
CAPITAL
SHARE CAPITAL
PROFIT & LOSS ACCOUNT

LONG TERM LIABILITIES

TERM LOAN (SECURED)

USD
NOTE 1 - Property, plant and equipment
1

Property, plant and equipment

Less: accumulated depreciation

7,351,037.87
(440,722.96)

Capital work-in-progress

2,908,466.81
9,818,781.72

NOTE 2 - Stocks
1
2
3
4
5

Raw materials - Latex DRC 60%

Chemicals
Finished goods
Fuel
Packing material

Less provision

127,881.00
110,233.00
767,492.00
35,713.00
21,516.00
1,062,835.00
41,112.00
1,021,723.00

NOTE 3 - Other debtors, prepayment and deposits

1 Prepayment
427,457.48
VAT
206,739.64
634,197.12

NOTE 4 - Other creditors and accruals

1 Other creditors

NOTE 5 - Holding Comapany

APL Products Sdn. Bhd.

NOTE 6 - Related Companies

APL Healthcare Sdn. Bhd.
Asia Pacific Latex Sdn. Bhd.
Medipure Sdn. Bhd.

NOTE 7 - Short term borrowing

1 Revolving credit
2 Trust receipts
3 Current portion of long term

NOTE 8 - Long term borrowing

1 Club deal facilities
NOTE 9 - Amount owing from related companies
1 Norwel International

828,296.11

5,071,994.68

102,901.57
335,167.51
41,068.84
479,137.92

1,745,570.95
535,690.37
386,951.45
2,668,212.77

2,321,248.14

33,350.00