BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...

Malaysian Biotechnology Corporation Sdn. Bhd.
(Company No.691431-D) (Incorporated in Malaysia)
Notes to the financial statements
Malaysian Biotechnology Corporation Sdn. Bhd is a private limited liability company, incorporated and domiciled in Malaysia.
The addresses of its registered office and principal place of business are as follows:
Registered office:
10th Floor, Wisma Havela Thakardas
No.1, Jalan Tiong Nam
Off Jalan Raja Laut
50350 Kuala Lumpur
Principal place of business:
Level 23, Menara Naluri
161, Jalan Ampang
50450 Kuala Lumpur
1. Significant accounting policies
The following accounting policies are adopted by the Company consistently to all periods presented in these financial
statements.
(a) Basis of accounting
The financial statements of the Company are prepared on the historical cost basis except as disclosed in the notes to the
financial statements and in compliance with the provisions of the Companies Act, 1965 and applicable approved accounting
standards for private entities issued by the Malaysian Accounting Standards Board.
(b) Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
Upon the disposal of an item of property, plant and equipment, the difference between the net disposal proceeds and the net
carrying amount is recognised in the income statement.
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