PERS Model financial statements - AXP Solutions

PERS Ref.
1.46(a) MODEL GROUP SDN. BHD. (Company No. 12345678-A)
(Incorporated in Malaysia)
AND ITS SUBSIDIARIES
1.8(e)
1.46(b),(c)
15.84
15.85
15.79(a)
10.26(a)
15.79(a)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2009
If the entity availed itself for the transitional provision when the MASB first adopted IAS 16 PPE:
Freehold land and buildings of the Group and the Company were revalued in 1995 by an
independent professional valuer based on the open market values on an existing use basis. As the
Group and the Company have availed themselves of the transitional provision when the MASB
first adopted IAS 16 Property, Plant and Equipment, the freehold land and buildings are stated on
the basis of their 1995 valuations and do not adopted a policy of revaluation.
Due to the absence of historical records, the Group and the Company are not able to determine the
carrying amounts of the property, plant and equipment that would have been recognised had the
assets been carried under the cost model.
The carrying amounts of the property, plant and equipment under hire purchase and finance lease
of the Group are as follows:
THE GROUP THE COMPANY
2009 2008 2009 2008
RM RM RM RM
Plant and machinery 28,594 92,021 - -
Motor vehicles 487,490 143,932 - -
516,084
235,953
The Group has pledged the following property, plant and equipment to licensed banks to secure
banking facilities granted to the Group:
THE GROUP THE COMPANY
2009 2008 2009 2008
RM RM RM RM
Freehold land 49,390 65,138 - -
Buildings 60,302 87,194 - -
109,692
152,332
The entities are encouraged, but not required, to disclose the following information:
15.83(a) The carrying amounts of temporarily idle property, plant and equipment of the Group are as
follows:
THE GROUP THE COMPANY
2009 2008 2009 2008
RM RM RM RM
Plant and machinery 10,400 38,100 - -
Equipment, furniture and fittings 5,400 6,800 - -
15,800
44,900
-
-
-
29
-
-
-