WCT-Page 30 to ProxyForm (2.4MB).pdf - Announcements - Bursa ...

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES cont’d 2.3 Standards issued but not yet effective WCT Berhad (66538-K) annual report 2011 The Group has not adopted the following standards and interpretations that have been issued but not yet effective: Description Effective for annual periods beginning on or after • IC Interpretation 19: Extinguishing Financial Liabilities with Equity Instruments 1 July 2011 • Amendments to IC Interpretation 14: Prepayment of a Minimum Funding Requirement 1 July 2011 • FRS 124: Related Party Disclosures (Revised) 1 January 2012 • Amendments to FRS 1: Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters 1 January 2012 • Amendments to FRS 7: Disclosure - Transfers of Financial Assets 1 January 2012 • Amendments to FRS 112: Deferred Tax Recovery of Underlying Assets 1 January 2012 • Amendments to FRS 101: Presentation of Items of Other Comprehensive Income 1 January 2012 • FRS 9: Financial Instruments (IFRS 9 issued by IASB in Nov 2009) 1 January 2013 • FRS 9: Financial Instruments (IFRS 9 issued by IASB in Oct 2010) 1 January 2013 • FRS 10: Consolidate Financial Statements 1 January 2013 • FRS 11: Joint Arrangements 1 January 2013 • FRS 12: Disclosure of Interest in Other Entities 1 January 2013 • FRS 13: Fair Value Measurement 1 January 2013 • FRS 119: Employee Benefits (Revised) 1 January 2013 • FRS 127: Separate Financial Statements (Revised) 1 January 2013 • FRS 128: Investment in Associates and Joint Ventures (Revised) 1 January 2013 • IC Interpretation 20: Stripping Costs in the Production Phase of a Surface Mine 1 January 2013 • Amendments to FRS 7: Disclosures - Offsetting Financial Assets and Financial Liabilities 1 January 2013 • Amendments to FRS 132: Offsetting Financial Assets and Financial Liabilities 1 January 2014 • FRS 9: Financial Instruments 1 January 2015 85 NOTES TO THE FINANCIAL STATEMENTS 31 December 2011 cont’d
86 WCT Berhad (66538-K) annual report 2011 NOTES TO THE FINANCIAL STATEMENTS 31 December 2011 cont’d 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES cont’d 2.3 Standards issued but not yet effective cont’d The Directors expect that the adoption of the standards and interpretations above will have no material impact on the financial statements in the period of initial application, except as disclosed below: Amendments to FRS 7: Transfers of Financial Assets The amendments require additional disclosure about financial assets that have been transferred but not derecognised to enable the user of the Group’s financial statements to understand the relationship with those assets that have not been derecognised and their associated liabilities. In addition, the amendments requires disclosures about continuing involvement in derecognised assets to enable the user to evaluate the nature of, and risks associated with, the entity’s continuing involvement in those derecognised assets. The amendment affects disclosure only and has no impact on the Group’s financial position or performance. Amendments to FRS 112: Deferred Tax: Recovery of Underlying Assets The amendments clarified the determination of deferred tax on investment property measured at fair value. The amendment introduces a rebuttable presumption that deferred tax on investment property measured using the fair value model in FRS 140 should be determined on the basis that its carrying amount will be recovered through sale. Furthermore, it introduces the requirement that deferred tax on non-depreciable assets that are measured using the revaluation model in FRS 116 to be always measured on a sale basis of that asset. FRS 9: Financial Instruments FRS 9 reflects the first phase of work on the replacement of FRS 139 and applies to classification and measurement of financial assets and financial liabilities as defined in FRS 139. The adoption of this first phase of FRS 9 will have an effect on the classification and measurement of the Group’s financial assets but will potentially have no impact on classification and measurements of financial liabilities. The Group is in the process of making an assessment of the impact of adoption of FRS 9. FRS 10: Consolidated financial statements FRS 10 replaces the portion of FRS 127 Consolidated and Separate Financial Statements that addresses the accounting for consolidated financial statements. FRS 10 establishes a single control model that applies to all entities including special purpose entities. The changes introduced by FRS 10 will require management to exercise significant judgement to determine which entities are controlled, and therefore, are required to be consolidated by a parent, compared with the requirements that were in FRS 127. FRS 11: Joint Arrangements FRS 11 replaces FRS 131 Interests in Joint Ventures and IC Interpretation 113 Jointly-controlled Entities – Nonmonetary Contributions by Venturers. FRS 11 removes the option to account for jointly controlled entities (“JCE”) using proportionate consolidation. Instead, JCE that meet the definition of a joint venture must be accounted for using the equity method. The application of this new standard will impact the financial position of the Group. This is due to the cessation of proportionate consolidation of Segi Astana Sdn. Bhd.. This investment will be equity accounted for.
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Page 36 and 37: ISSUE OF SHARES Ordinary shares WCT
Page 38 and 39: OTHER STATUTORY INFORMATION cont’
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Page 42 and 43: Non-current assets WCT Berhad (6653
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Page 84 and 85: 4. PROPERTY, PLANT AND EQUIPMENT Fr
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Page 90 and 91: 5. LAND HELD FOR PROPERTY DEVELOPME
Page 92 and 93: 6. INVESTMENT PROPERTIES WCT Berhad
Page 94 and 95: 7. INVESTMENT IN SUBSIDIARIES cont
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Page 104 and 105: 11. CONCESSION ASSETS WCT Berhad (6
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13. TRADE RECEIVABLES cont’d (a)
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13. TRADE RECEIVABLES cont’d (b)
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15. DUE FROM/(TO) RELATED PARTIES c
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19. OTHER PAYABLES WCT Berhad (6653
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20. BORROWINGS cont’d Total borro
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24. TERM LOANS Secured WCT Berhad (
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26. ISLAMIC SERIAL REDEEMABLE BONDS
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29. SHARE CAPITAL WCT Berhad (66538
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29. SHARE CAPITAL cont’d (b) Empl
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29. SHARE CAPITAL cont’d (b) Empl
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29. SHARE CAPITAL cont’d (c) Warr
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30. IRREDEEMABLE CONVERTIBLE PREFER
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32. RESERVES WCT Berhad (66538-K) a
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33. NON�CONTROLLING INTEREST WCT
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34. DEFERRED TAXATION cont’d WCT
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37. OTHER OPERATING INCOME/�LOSS
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39. PROFIT BEFORE TAXATION (a) The
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39. PROFIT BEFORE TAXATION cont’d
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40. TAXATION Tax expense for the ye
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41. EARNINGS PER SHARE (i) Basic WC
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42. DIVIDENDS cont’d Recognised d
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44. OPERATING LEASE ARRANGEMENTS co
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46. CONTINGENT LIABILITIES cont’d
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47. FINANCIAL INSTRUMENTS cont’d
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49. SIGNIFICANT EVENTS During the f
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50. SUBSEQUENT EVENTS cont’d (i)
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51. CONTRACT DISPUTE cont’d State
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52. SEGMENT INFORMATION cont’d Bu
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52. SEGMENT INFORMATION cont’d Ge
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No. Location Description 1. Master
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No. Location Description 7. Seven (
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(2) Thirty Largest Shareholders con
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(2) Thirty Largest ICPS Holders WCT
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(2) Thirty Largest Warrants Holders
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(2) Thirty Largest Warrants Holders
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(2) Directors’ Interests in Warra
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WCT Berhad (66538-K) annual report
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Meeting : 31st Annual General Meeti
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I/We WCT Berhad (66538-K) (Incorpor
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IXORA CAMELLIA Double-storey bungal
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