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)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2009
4.30(e)
8. OTHER INTANGIBLE ASSETS
Software
Development Patents and
Costs Trademarks Total
THE GROUP RM RM RM
31.40(b)
31.40(c)
Cost
At 1 January 2008 5,204,374 364,867 5,569,241
Acquisition of a subsidiary - - -
Exchange gain on consolidation - 159 159
Additions 1,403,020 98,726 1,501,746
At 31 December 2008
Additions net of government grant
receipt of RM230,000 for software
6,607,394 463,752 7,071,146
development costs
1,304,054 76,900 1,380,954
Exchange gain on consolidation - 43 43
Disposals - - -
At 31 December 2009 7,911,448 540,695 8,452,143
Amortisation and Impairment Losses
At 1 January 2008 1,724,307 90,274 1,814,581
Impairment losses recognised - 986 986
Exchange loss on consolidation - 35 35
Amortisation charge 986,504 46,400 1,032,904
At 31 December 2008 2,710,811 137,695 2,848,506
Exchange loss on consolidation - 20 20
Impairment losses reversed - (895) (895)
Disposals - - -
Amortisation charge 1,387,016 54,070 1,441,086
At 31 December 2009 4,097,827 190,890 4,288,717
Carrying amounts
At 31 December 2008
At 31 December 2009
3,896,583
3,813,621
326,057
349,805
4,222,640
4,163,426
Government grant related to assets is deducted in arriving at the carrying amount of the assets
During the financial year, a subsidiary obtained a government grant under the Research &
Development Grant Scheme up to a maximum of RM1 million on the approved research and
development expenditures incurred.
The government grant granted is subject to the fulfilment of the condition that the percentage of the
knowledge workers should attain 20% of the total workforce of the said subsidiary by 30 June 2010.
The subsidiary has, subsequent to the financial year, achieved this condition.
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