50
Notes on the Accounts
19. BANK LOANS AND OVERDRAFT
At 31 December 1999, the bank loans and overdraft were repayable as follows:
Group
Company
1999
1998
HK$'000
HK$'000
1999
HK$'000
1998
HK$'000
Within 1 year or on demand
202,266
251,464
200,000
After 1 year but within 2 years
600,000
802,266
251,464
200,000
These were analysed as follows:
Unsecured bank overdraft
Unsecured short term bank loans
Long term bank loans (secured)
2,266
1,464
250,000
200,000
800,000
802,266
251,464
200,000
The banking facilities are secured by pledging the shares in the subsidiaries which hold the
properties under development with an aggregate carrying value of HK$3,868,511,000 (1998:
HK$Nil).
20. DEFERRED TAXATION
(a) Movement on deferred taxation is as follows:
Group
Company
1999
HK$'000
1998
HK$'000
1999
HK$'000
1998
HK$'000
Balance at 1 January
21,500
15,500
21,000
15,500
Transfer from the profit
and loss account
5,000
6,000
5,000
5,500
Balance at 31 December
26,500
21,500
26,000
21,000