OKA CORPORATION BHD

Notes to the Interim Financial Report for the First Quarter Ended 30 June 2004 

1.	Basis of Preparation

The interim financial report is unaudited and has been prepared in compliance with MASB 26, Interim Financial Reporting and Chapter 9 Part K of the Listing Requirements of the Bursa Malaysia Securities Berhad (BMSB).

The interim financial report should be read in conjunction with the audited financial statements of the Group for the year ended 31 March 2004.

The accounting policies and methods of computation adopted by the Group in this interim financial report are consistent with those adopted in the financial statements for the year ended 31 March 2004.

2.	 Audit Report

The preceding financial year audit report in respect of the financial year ended 31 March 2004 was not qualified by external auditors.

3.	   Seasonal or Cyclical Factors

Apart from the traditional variations in the level of business activities, the       Group’s activities are not affected by any seasonal or cyclical factors in the first quarter.

4.	Unusual Items

There were no unusual items that affected the assets, liabilities, equity, net income or cash flows for the first quarter ended 30 June 2004.

5.	Material Changes in Estimates 

There were no material changes in the estimates used in the current quarter compared to the estimates used in the previous financial year, which have a material effect in the current quarter or the financial year to date.

6.	Dividend Paid

No dividend was paid for the financial period to date.

7.	Segment Reporting

No segmental reporting by industry and geographical segment is required as the Group’s activities are primarily in one industry segment of manufacturing and trading of concrete products, and is principally conducted in Malaysia.

8.	Property, Plant and Equipment

The Group did not carry out any revaluation on its property, plant and equipment in the financial year to date. The valuations of land and buildings have been brought forward, without amendment from the previous annual report.

9.	Events Subsequent to the Balance Sheet Date 

There were no material events subsequent to the end of the quarter that have not been reflected in the financial statements.

10.	Effect of Changes in Composition of the Group

There were no changes in composition of the Group for the current financial year to date.

11.	Changes in Contingent Liabilities or Assets

There were no contingent assets at the date of this quarterly report.

Update on the contingent liabilities is disclosed under additional information required by the BMSB’s Listing Requirements, Note 11 - Changes in material litigation.

12.	Trade and Other Receivables

Included in trade and other receivable is an amount of RM1,806,692 being tax instalments prepaid by the Group to Inland Revenue Department.

13.	Related Party Transactions

Related party transactions of the Group only relates to office rental paid to a director amounting to RM7,500.00

14.	Capital Commitments

                                                                                                          	     30 June 2004	
	RM’000	
Approved and contracted for 		
   landed properties	                        194	
	                        	
	                        194