KELADI MAJU BERHAD 
NOTES TO THE ACCOUNTS - FOURTH QUARTER ENDED 31 JANUARY 2001

1	Accounting Policies
The accounts of the Group are prepared using the same accounting policies, method of computation and basis of consolidation as those used in the preparation of the most recent annual financial statements.

2	Exceptional Items
There were no exceptional items for the financial periods under review.

3	Extraordinary Items
There were no extraordinary items for the financial periods under review.

4	Taxation
Tax charge for the  financial year-to-date ended 31 January 2001  comprise  of  the  following :-
							            RM’000
	Current year tax expense				  3,406
	Under / (over) provision in prior years		    ( 33 )			  
	Deferred tax expense				           ( 1,525 )
	Share of tax in associated companies		         	         6
								------------
								  1,854
							            =======

5	Pre-Acquisition Profits
There were no pre-acquisition profits for the financial periods under review.

6	Profit On Sale Of Investments and/or Properties
There were no profits on sale of investments and/or properties outside the ordinary course of the Group’s business for the current quarter or financial year-to-date.	

7	Quoted Securities

There were no purchases or disposals of quoted securities for the current quarter or financial year-to-date .
						    
	There were no investments in quoted shares as at 31 January 2001.

8	Changes In The Composition Of The Group
There were no material changes in the composition of the Group during the current financial year to date.

9	Status of Corporate Proposals
There were no corporate proposals that have been announced but not completed as at the date of this announcement.

10	Seasonal or Cyclical Factors
Seasonal or cyclical factors do not have any material impact on the Group’s business operations.

11	Debt & Equity Securities, Share Buy-Backs And Treasury Shares
There were no issuances and repayment of debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares for the current financial year to date.

12	Group Borrowings and Debt Securities
Total Group borrowings as at 31 January 2001 are as follows :-

								RM’000
		Long Term Loan - Secured
			Payable within 1 year			     2,000 
			Payable within 2 to 5 years		     8,000
			Payable after 5 years			     2,000
								  -----------
			Total					    12,000
								   ======

13	Contingent Liabilities
Contingent liabilities of the Group comprise of a corporate guarantee to a  financial institution for banking facilities of RM12.0 million granted to a subsidiary company, Keladi Harta Sdn Bhd.

14	Off Balance Sheet Financial Instruments
The Group does not have any  financial instruments with off balance sheet risk as at the date of this announcement.

15	Material Litigation
The Group is not engaged in any material litigation as at the date of this announcement.

16	Segmental Reporting - Current Financial Year Todate

								Profit Before		Assets
					Turnover		Taxation		Employed
					  RM’000		 RM’000		RM’000
	
	Property Development	   36,493		      4,749		  91,207
	Investment Holding		     2,302		      1,802		    6,379
	Cultivation Of Oil-Palm 	     2,466		         134 		  55,835
------------------------------------------------------------------                             41,261			      6,686		153,421
					=======================================

17	Material Changes  in Profit Before Tax  for Current Quarter As Compared To The Preceding Quarter
Profit before tax, minority interests and extraordinary items for the current quarter is RM665,000 while for the preceding quarter was RM2,479,000. The lower profit achieved in the current quarter is mainly due to lower progress billings from property development and lower fresh fruit bunch prices.

18	Review of Performance
The Group achieved a profit before taxation, minority interests and extraordinary items of RM6.686 million for the current financial year end, against RM7.454 million achieved in the previous financial year. The lower pre-tax profit of 10.3% is mainly due to interest expense of RM1.091 million incurred (compared to RM105,000 in financial year ended 31.01.00) arising from a RM12.0 million term loan obtained to part finance the purchase of additional land for the Group’s land bank and  lower contribution from cultivation of oil palm due to depressed fresh fruit bunch prices.

In the opinion of the Directors, the earnings of the Group for the current period under review have not been affected by any transaction or event of a material or unusual nature which has arisen between 31 January 2001 and the date of this announcement.

19	Current Year Prospects
The Malaysian economy grew by 8.5% in the year 2000. For the year 2001, a targeted growth of 6.0% has been estimated by the Government. However, with the anticipation of a slowdown in the economy of the United States and possibly a recession, Malaysia’s exports could be adversely affected.

The performance of the Malaysian economy will directly impact the property industry. Given the above uncertainties surrounding the economy, the Group does not intend to embark on higher end or high cost properties as yet. In the pipeline, the Group will develop a piece of freehold agricultural land measuring 617.5 hectares located in Mukim Naga Lilit, Kulim earmarked for mixed development into more than 5,000 units of various types of properties with low and medium cost properties forming the bulk of houses to be built. The Group will maintain its focus on building affordable and quality homes for the year 2001.

Barring unforseen circumstances, the Group expects its profit performance for the financial year ended 31 January 2001 to be maintained for the coming financial year ending 31 January 2002. 

20	Variance of Actual Profit from Forecast Profit
	Not applicable

21	Dividend
The Board does not recommended any dividend to be paid for the financial year ended 31 January  2001.

By Order Of The Board

Lim Lai Sam
Company Secretary

Kuala Lumpur
31 March 2001.