APL INTERNATIONAL INCORPORATED LTD

As at 31.10.2005

MANUFACTURING ACCOUNT

01.07.05 - 31.10.05
USD

01.07.05 - 30.09.05

31.10.05

USD

USD

01.07.05 - 31.10.05
VND

01.07.05 - 30.09.05

31.10.05

VND

VND

* * RAW MATERIALS

OPENING STOCKS - CHEMICALS

202,992.00

202,992.00

132,416.51

3,216,002,256.00

3,216,002,256.00

PURCHASE - CHEMICALS

154,232.37

101,196.51

53,035.86

2,445,346,437.00

1,604,144,661.54

(131,752.37)

(132,416.51)

(131,752.37)

(2,089,724,340.57)

(2,099,331,349.54)

225,472.00

171,772.00

53,700.00

3,571,624,352.43

2,720,815,568.00

850,808,784.43

74,981.00

74,981.00

285,518.00

1,187,923,983.00

1,187,923,983.00

4,526,602,372.00

1,360,813.70

966,360.00

394,453.70

21,569,143,950.70

15,312,713,815.00

6,256,430,135.70

(285,518.00)

(287,845.13)

(4,565,511,606.93)

(4,526,602,372.00)

(4,565,511,606.93)

1,147,949.57

755,823.00

392,126.57

18,191,556,326.77

11,974,035,426.00

6,217,520,900.77

337,341,412.00

CLOSING STOCKS - CHEMICALS

OPENING STOCKS - LATEX

PURCHASE - LATEX
CLOSING STOCKS - LATEX

OPENING STOCKS - PACKING MATERIALS

(287,845.13)

2,099,331,349.54
841,201,775.46
(2,089,724,340.57)

24,506.00

24,506.00

21,278.00

388,248,558.00

388,248,558.00

PURCHASE - PACKING MATERIALS

100,190.91

71,139.61

29,051.30

1,587,909,866.86

1,127,127,197.56

CLOSING STOCKS - PACKING MATERIALS

(26,943.00)

(21,278.00)

(26,943.00)

97,753.91

74,367.61

23,386.30

1,548,815,501.86

1,178,034,343.56

370,781,158.30

155,152.48

111,532.22

43,620.26

2,459,049,933.86

1,767,188,990.00

691,860,943.86

18,767.55

13,967.69

4,799.86

297,449,812.08

221,319,232.62

76,130,579.46

173,920.03

125,499.91

48,420.12

2,756,499,745.94

1,988,508,222.62

767,991,523.32

(427,342,923.00)

(337,341,412.00)

460,782,669.30
(427,342,923.00)

* * 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 - 31/10/2005

MANUFACTURING ACCOUNT

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

USD

USD

USD

VND

VND

VND

* * FACTORY OVERHEADS

FORMERS PURCHASES

INDIRECT CHEMICAL - WATER TREAMENT PLANT

INSURANCE

85.31

85.31

7,944.55

6,889.14

175,499.48
12,068.88

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

1,351,054.47

1,351,054.47

1,055.41

125,887,523.89

109,147,665.88

16,739,858.01

129,233.62

46,265.86

2,781,573,695.76

2,047,750,890.30

733,822,805.46

11,979.37

89.51

191,222,820.33

189,803,102.22

1,419,718.11

197,523.00

147,977.00

49,546.00

3,130,495,787.00

2,344,646,681.00

785,849,106.00

UPKEEP BOILER

9,651.97

8,216.01

1,435.96

152,928,202.80

130,152,441.24

22,775,761.56

TRANSPORTATION CHARGES

8,525.98

4,758.53

3,767.45

135,126,395.02

75,370,870.57

59,755,524.45

TESTING / INSPECTION EXPENSES

UPKEEP - PLANT & MACHINERY

17,616.94

15,253.07

2,363.87

279,147,400.51

241,654,058.44

37,493,342.07

WEIGHING CHARGES

INDIRECT CHEMICAL - BOILER CHEMICALS

RENTAL OF MACHINERY / BACKHOE

728.48

724.95

3.53

11,544,322.77

11,488,333.44

55,989.33

429,644.59

325,117.00

104,527.59

6,809,277,202.55

5,151,365,097.56

1,657,912,104.99

UPKEEP - LABORATORY

OPENING STOCKS - PALM SHELL, FIREWOOD & COAL

7,299.00
PALM SHELL & FIRE WOOD

399,228.77

CLOSING STOCKS - PALM SHELL, FIREWOOD &(56,503.00)

COAL
350,024.77

7,299.00

65,661.56

115,638,057.00

115,638,057.00

1,040,998,372.24

305,201.21

94,027.56

6,327,610,391.79

4,836,239,262.63

1,491,371,129.16

(65,661.56)

(56,503.00)

246,838.65

103,186.12

(896,194,083.00)
5,547,054,365.79

(1,040,998,372.24)
3,910,878,947.39

OPENING STOCKS - CONSUMABLES

CLOSING STOCKS - CONSUMABLES

OPENING STOCKS - WIP LATEX

CLOSING STOCKS - WIP LATEX

OPENING STOCKS - WIP CHEMICALS

CLOSING STOCKS - WIP CHEMICALS

(896,194,083.00)
1,636,175,418.40

* * WORK - IN - PROGRESS

COST OF GOODS PRODUCED

2,424,764.87

1,699,418.17

725,346.70

38,424,827,495.34

26,923,637,605.13

11,501,189,890.21

APL INTERNATIONAL INCORPORATED LTD

TRADING AND PROFIT & LOSS ACCOUNT
01/07/2005 - 31/10/2005

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

USD

USD

USD

VND

VND

VND

SALES
EXPORT SALES (PF)

1,874,768.25

EXPORT SALES (PG)

1,874,768.25

LOCAL SALES (PF)

LOCAL SALES (PG)

1,317,220.00

557,548.25

1,317,220.00

29,715,303,623.25
-

557,548.25

29,715,303,623.25

20,872,030,830.00

8,843,272,793.25

20,872,030,830.00

8,843,272,793.25

166,664.60

101,744.60

64,920.00

2,641,879,714.80

1,612,183,594.80

1,029,696,120.00

166,664.60

101,744.60

64,920.00

2,641,879,714.80

1,612,183,594.80

1,029,696,120.00

SALES - CHLORINATION CHARGES

SALES - SCRAP / MISC

RETURN INWARDS

DISCOUNT ALLOWED

2,041,432.85

1,418,964.60

622,468.25

586,999.00

586,999.00

813,418.00

2,424,764.87

1,699,418.17

725,346.70

32,357,183,338.05

22,484,214,424.80

9,872,968,913.25

9,299,825,157.00

9,299,825,157.00

12,895,928,972.00

38,424,827,495.34

26,923,637,605.13

11,501,189,890.21

COST OF GOODS SOLD

OPENING STOCKS - FINISHED GOODS

MANUFACTURING ACCOUNT
PURCHASE - GLOVES

3,011,763.87

CLOSING STOCKS - FINISHED GOODS

(877,361.00)
2,134,402.87

GROSS PROFIT / (LOSS)

2,286,417.17

(813,418.00)
1,472,999.17

(92,970.02)

(54,034.57)

1,923.53

1,599.98

1,538,764.70

47,724,652,652.34

36,223,462,762.13

24,397,118,862.21

(877,361.00)

(13,915,822,821.00)

(12,895,928,972.00)

(13,915,822,821.00)

661,403.70

33,808,829,831.34

23,327,533,790.13

10,481,296,041.21

(38,935.45)

(1,451,646,493.29)

(843,319,365.33)

(608,327,127.96)

OVERDUE INTEREST INCOME

FIXED DEPOSIT INTEREST

323.55

30,493,999.18

GAIN / (LOSS) - FOREIGN EXCHANGE ( REALISED)

25,362,172.63

5,131,826.55

GAIN / (LOSS) - FOREIGN EXCHANGE ( UNREALISED)

(60,875,774.62)

(36,499,581.00)

(24,376,193.62)

RENTAL OF CANTEEN
SALES OF SCRAP
SUNDRY INCOME

21.85

14.62

7.23

1,945.38

1,614.60

330.78

346,460.51
(30,035,314.93)

231,785.48
(10,905,622.89)

114,675.03
(19,129,692.04)

EXPENSES

OTHER EXPENSES
ADMIN AND GENERAL EXPENSES

126,266.35

101,882.01

24,384.34

2,001,109,374.35

1,614,349,357.61

386,760,016.74

SELLING AND DISTRIBUTION EXPENSES

10,185.58

4,597.53

5,588.05

161,463,859.33

72,831,798.28

88,632,061.05

FINANCIAL EXPENSES

99,911.59

75,569.25

24,342.34

1,583,180,510.30

1,197,086,655.56

386,093,854.74

236,363.52

182,048.79

54,314.73

3,745,753,743.98

2,884,267,811.45

861,485,932.53

(327,388.16)

(234,468.76)

(92,919.40)

(5,227,435,552.20)

(3,738,492,799.67)

NET PROFIT / (LOSS)

(1,488,942,752.53)

TAXATION

TAXATION

NET PROFIT / (LOSS) AFTER TAXATION

(327,388.16)

(234,468.76)

(92,919.40)

(5,227,435,552.20)

(3,738,492,799.67)

(1,488,942,752.53)

RETAINED PROFIT / (LOSS) B / F

(1,929,552.58)

(1,929,552.58)

(2,164,021.34)

(30,569,901,524.94)

(30,569,901,524.94)

(34,308,394,324.61)

RETAINED PROFIT / (LOSS) C / F

(2,256,940.74)

(2,164,021.34)

(2,256,940.74)

(35,797,337,077.14)

(34,308,394,324.61)

(35,797,337,077.14)

APL INTERNATIONAL INCORPORATED LTD

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

USD

USD

USD

VND

VND

VND

ADMIN AND GENERAL EXPENSES

AUDITOS' REMUNERATION
ADVERTISEMENT
ANG POW / INCENTIVE
BANK CHARGES

689.25
2,927.40
5,578.64

2,927.40
2,623.53

689.25

10,932,194.25

46,410,999.60

2,955.11

88,442,143.35

46,410,999.60
41,571,143.64

10,932,194.25
46,870,999.71

BANK GUARANTEE COMMISSION

CONSULTANCY FEES

CONTRIBUTION AND DONATION

DEPRECIATION

1,856.00

1,392.00

464.00

29,415,280.00

22,055,776.00

7,359,504.00

DIRECTORS' SALARY

DIRECTORS' EPF

ELECTRICITY

STAFF WELFARE

704.21

545.59

ENTERTAINMENT & REFRESHMENT

FILLING & STAMPING FEES

1,249.80

19,813,516.90

13.10

44.02

905,744.52

207,543.30

698,201.22

GREETING & CONDOLENCE

261.76

116.79

144.97

4,149,673.14

1,850,303.97

2,299,369.17

LEGAL FEE

200.02

164.71

35.31

3,170,267.22

2,610,215.31

560,051.91

340.30

207.09

133.21

LC CHARGES
MEDICAL FEES
INSPECTION FEE

5,393,020.46

8,653,602.99

57.12

FINE AND PENALTY

11,159,913.91

3,280,176.65

2,112,843.81

284.06

284.06

4,498,658.22

4,498,658.22

PRINTING & STATIONERY

4,057.44

3,720.69

336.75

64,305,221.13

58,964,029.38

5,341,191.75

OFFICE EXPENSES

3,909.56

3,072.01

837.55

61,959,533.60

48,675,153.05

13,284,380.55

POSTAGE & COURIER

663.33

418.41

244.92

10,515,175.26

6,630,499.14

3,884,676.12

PRAYING EXPENSES

147.86

147.86

2,341,717.01

2,341,717.01

689.42

565.36

124.06

REGISTRATION FEES

WORKERS' HOUSE RENTAL

REPAIR & MAINTAINANCE

SECRETARIAL FEES

SUNDRY EXPENSES

320.47

307.86

12.61

5,077,594.47

4,877,587.26

200,007.21

SALARIES / WAGES AND ALLOWANCES 26,934.56

18,562.47

8,372.09

426,908,347.80

294,118,628.31

132,789,719.49

1,860.73

1,052.35

46,173,341.77

29,482,018.42

16,691,323.35

QUIT RENT & ASSESSMENT

RENTAL OF OFFICE EQUIPMENT

SOCIAL & MEDICAL INSURANCE

2,913.08

10,925,579.51

8,957,863.85

SOCSO

SERVICE TAX

SECURITY CHARGES

5,906.49

4,430.89

1,475.60

93,610,462.15

70,205,970.55

STAMP DUTY

TRANSPORT

TRAVELLING EXPENSES

8,418.87

5,875.05

TELEPHONE & TELEX CHARGES

2,907.34

3,299.97

TRAINING FEE

6,489.82

1,724.06

LAND RENTAL

49,463.76

49,463.76

UPKEEP - OFFICE EQUIPMENT

UPKEEP - OFFICE

MONEY INSURANCE

WATER CHARGES

126,266.35

2,543.82
(392.63)
4,765.76
-

133,430,612.43

93,083,083.41

1,967,715.66

23,404,491.60
40,347,529.02

46,070,535.68

52,298,040.11

(6,227,504.43)

102,922,966.60

27,333,247.24

75,589,719.36

783,736,789.28

783,736,789.28

101,882.01

24,384.34

2,001,109,374.35

1,614,349,357.61

386,760,016.74

APL INTERNATIONAL INCORPORATED LTD

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

USD

USD

USD

VND

VND

VND

SELLING AND DISTRIBUTION EXPENSES

FORWARDING & FREIGHT CHARGES

10,088.41

4,597.53

5,490.88

159,922,645.96

72,831,798.28

SALES COMMISSION
MARINE CARGO INSURANCE
MARINE CARGO - STAMP DUTY
CARRIAGE OUTWARDS

87,090,847.68
-

97.17

97.17

1,541,213.37

5,588.05

161,463,859.33

10,185.58

4,597.53

1,541,213.37

72,831,798.28

88,632,061.05

APL INTERNATIONAL INCORPORATED LTD

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

USD

USD

USD

VND

VND

VND

FINANCIAL EXPENSES

REVOLVING CREDIT INTEREST

48,255.98

25,593.88

BANKERS' ACCEPTANCES INTEREST

HIRE PURCHASE INTEREST

TERM LOAN INTEREST

38,266.62

38,266.62

DIFFERENCE EXCHANGE RATE

4,612.71

3,340.43

OVERDUE INTEREST

8,776.28

99,911.59

22,662.10
0

765,010,585.01

405,567,016.91

359,443,568.10

606,028,460.94

606,028,460.94

1,272.28

73,138,810.30

52,959,177.22

20,179,633.08

8,368.32

407.96

139,002,654.05

132,532,000.49

6,470,653.56

75,569.25

24,342.34

1,583,180,510.30

1,197,086,655.56

386,093,854.74

APL INTERNATIONAL INCORPORATED LTD

01.07.05 - 31.10.05

TAXATION

TAXATION

DEFERRED TAXATION

01.07.05 - 30.09.05

31.10.05

01.07.05 - 31.10.05

01.07.05 - 30.09.05

31.10.05

APL INTERNATIONAL INCORPORATED LTD

BALANCE SHEET
As at 31.10.2005

Note
FIXED ASSETS
FIXED ASSETS

31.10.05
USD

30.09.05
USD

31.10.05
VND

30.09.05
VND

9,866,536.94

9,766,756.44

156,493,142,405

154,842,156,600

1,339,292.50
970,827.93
33,350.00
451,755.89
509,650.56
911.43
3,305,788.31

1,277,180.07
1,120,106.62
33,350.00
546,087.25
212,699.94
1,355.30
3,190,779.18

21,242,518,343
15,398,301,798
528,964,350
7,165,300,171
8,083,567,532
14,456,191
52,433,108,385

20,248,412,830
17,758,170,353
528,730,900
8,657,667,262
3,372,144,849
21,486,926
50,586,613,120

775,218.53
482,139.12
5,061,871.87
3,623,788.33
9,943,017.85

957,665.19
479,137.92
5,121,994.68
3,076,511.03
9,635,308.82

12,295,741,104
7,647,208,582
80,286,349,730
57,476,906,702
157,706,206,119

15,182,823,922
7,596,252,584
81,204,103,657
48,775,005,870
152,758,186,032

(6,637,229.54)

(6,444,529.64)

(105,273,097,734)

(102,171,572,913)

3,229,307.40

3,322,226.80

51,220,044,671

52,670,583,687

3,165,000.00
(2,256,940.74)
908,059.26

3,165,000.00
(2,164,021.34)
1,000,978.66

50,200,065,000
(35,797,337,077)
14,402,727,923

50,177,910,000
(34,308,394,325)
15,869,515,675

2,321,248.14

2,321,248.14

36,817,316,749

36,801,068,012

2,321,248.14

2,321,248.14

36,817,316,749

36,801,068,012

3,229,307.40

3,322,226.80

51,220,044,671

52,670,583,687

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)

31.10.05
USD

30.09.05
USD

31.10.05
VND

30.09.05
VND

NOTE 1 - Property, plant and equipment

1

Property, plant and equipment

Less: accumulated depreciation

7,366,893.58
(540,610.96)

7,351,037.87
(490,600.96)
2,906,319.53
9,766,756.44

116,846,299,072
(8,574,630,437)
48,221,473,770
156,493,142,405

116,543,354,391
(7,777,987,620)
46,076,789,829
154,842,156,600

Capital work-in-progress

3,040,254.32
9,866,536.94

287,845.13
131,752.37
877,361.00
56,503.00
26,943.00
1,380,404.50
(41,112.00)
1,339,292.50

285,518.43
132,416.51
813,418.00
65,662.00
21,278.00
1,318,292.94
(41,138.00)
1,277,154.94

4,565,511,607
2,089,724,341
13,915,822,821
896,194,083
427,342,923
21,894,595,775
(652,077,432)
21,242,518,343

4,526,602,372
2,099,331,350
12,895,928,972
1,040,998,372
337,341,412
20,900,202,478
(651,789,648)
20,248,412,830

317,267.57

2,825,013,020

5,029,960,055

261,132.92
23,018.38
1,526.05
2,197.47
29,392.75

1,823,968,686
386,768,740
72,726,333
75,350,853
466,198,408

228,819.68
546,087.25

4,340,287,152
7,165,300,171

NOTE 2 - Stocks
1
2
3
4
5

Raw materials - Latex DRC 60%

Chemicals
Finished goods
Fuel
Packing material

Less provision

NOTE 3 - Other debtors, prepayment and deposits

1 Prepayment
178,110.65
Advance to suppliers
114,997.08
Import duties receivable
24,384.89
Advance to staffs
4,585.23
Prepaid expenses
4,750.70
Deposit
29,392.75
VAT
273,645.24
451,755.89

3,627,707,207
8,657,667,262

NOTE 4 - Other creditors and accruals

Payable to suppliers
Debtors pay in advance
Tax payable
Salary payable
Other payable
Accrual expenses
Other creditors

422,998.94
2,611.73
41,012.69
249,979.36
58,615.81
775,218.53

464,152.14
41,427.75
1,595.11
42,145.74
160,576.28
247,768.17
957,665.19

6,709,186,187
41,424,650
650,502,276
3,964,922,629
929,705,362
12,295,741,104

NOTE 5 - Holding Comapany

APL Products Sdn. Bhd.

5,061,871.87

5,121,994.68

80,286,349,730

81,204,103,657

102,901.57
338,168.71
41,068.84
482,139.12

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

1,632,121,802
5,363,693,909
651,392,871
7,647,208,582

1,631,401,491
5,313,745,704
651,105,389
7,596,252,584

2,976,423.86
260,413.02
386,951.45
3,623,788.33

2,246,076.78
443,482.80
386,951.45
3,076,511.03

47,209,058,843
4,130,410,910
6,137,436,948
57,476,906,702

35,609,301,270
7,030,976,311
6,134,728,288
48,775,005,870

2,321,248.14

2,321,248.14

36,817,316,749

36,801,068,012

33,350.00

33,350.00

528,964,350

528,730,900

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

15,182,823,922