Accounts账目附注.pdf

Notes to the AccountsNotes to the Accounts N For the year ended 31st March, 2001 E X T M E D 1. Basis of preparation I A As at 31st March, 2001, the Group had accumulated L T losses of HK$367,209,080 and was financed by bank 367,209,080 112,563,939 D loans of HK$112,563,939 and a shareholder loan of 215,780,820 2 HK$215,780,820 from Mr. Lai, the Chairman and the 0 0 controlling shareholder of the Company. Additionally, 1 during the year, the Group failed to fulfill the financial A covenant set out under a banking facility agreement, 26(b) N although a waiver has been subsequently granted by 60,000,000 34 N U the bank (see details in note 26(b)). Subsequent to the A L year end date, the Group obtained an additional bank overdraft facility of HK$60,000,000 (see note 34). The R E directors are of the opinion that in order for the Group P O to meet its liabilities as and when they fall due and to R continue its operation for the foreseeable future, T additional funding may be required. In connection with the above, Mr. Lai has undertaken that:- 54 (a) He will provide sufficient financial resources to (a) the Group to enable it to meet its liabilities as the