Annual Report 2012 - Dialog

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90 l Dialog Axiata PLC l Annual Report 2012 Notes to the Financial Statements 8 Property, plant and equipment contd. (b) Company Computer Furniture, Assets in the systems fittings course of Land and and telecom and other Motor construction buildings equipment equipment vehicles (CWIP) Total At 1 January 2011 Cost Accumulated depreciation / 1,182,717 66,736,969 1,230,105 386,504 6,069,428 75,605,723 provision for impairment (421,411) (27,809,197) (839,476) (332,898) (1,854,218) (31,257,200) Net book amount 761,306 38,927,772 390,629 53,606 4,215,210 44,348,523 Year ended 31 December 2011 Opening net book amount 761,306 38,927,772 390,629 53,606 4,215,210 44,348,523 Additions Nil 161,049 6,706 Nil 6,370,659 6,538,414 Transferred from CWIP 9,083 6,909,874 17,422 27,619 (6,963,998) Nil Transferred to intangible assets (Note 9) Nil Nil Nil Nil (330,735) (330,735) Disposals (19,801) (40,378) (21,999) (128) Nil (82,306) Assets transfers to DBN Nil (1,499,951) Nil Nil (48,235) (1,548,186) Adjustments Nil 72,432 Nil Nil 4,059 76,491 Impairment reversal / (provision) Nil 23,587 Nil Nil (18,552) 5,035 Reclassification to trading inventory Nil Nil Nil Nil (187,144) (187,144) Depreciation (103,455) (7,311,052) (158,247) (34,543) Nil (7,607,297) Closing net book amount 647,133 37,243,333 234,511 46,554 3,041,264 41,212,795 At 31 December 2011 Cost 1,127,107 69,866,589 1,174,848 410,099 5,145,354 77,723,997 Accumulated depreciation / provision for impairment (479,974) (32,623,256) (940,337) (363,545) (2,104,090) (36,511,202) Net book amount 647,133 37,243,333 234,511 46,554 3,041,264 41,212,795 Year ended 31 December 2012 Opening net book amount 647,133 37,243,333 234,511 46,554 3,041,264 41,212,795 Additions Nil 226,451 15,156 Nil 12,404,169 12,645,776 Transferred from CWIP 16,611 9,288,058 22,486 144 (9,327,299) Nil Transferred to intangible assets (Note 9) Nil Nil Nil Nil (391,480) (391,480) Disposals Nil (6,651) (4,934) Nil Nil (11,585) Adjustments (9,276) (178,507) 781 Nil (153,231) (340,233) Impairment provision Nil (702,826) Nil Nil (9,508) (712,334) Reclassification to trading inventory Nil Nil Nil Nil 100,071 100,071 Depreciation (75,117) (7,542,254) (114,898) (26,505) Nil (7,758,774) Closing net book amount 579,351 38,327,604 153,102 20,193 5,663,986 44,744,236 At 31 December 2012 Cost Accumulated depreciation / 1,126,286 78,570,579 1,170,313 410,243 7,454,705 88,732,126 provision for impairment (546,935) (40,242,975) (1,017,211) (390,050) (1,790,719) (43,987,890) Net book amount 579,351 38,327,604 153,102 20,193 5,663,986 44,744,236
Annual Report 2012 l Dialog Axiata PLC l 91 (c) The market value and the historical cost of land and buildings as at 31 December 2012 of the Company and the Group was as follows: Group Company 2012 2011 2012 2011 Market value 917,482 877,157 650,274 674,590 Cost 826,372 803,059 621,403 620,797 The market value was determined by means of a valuation by Mr P.M.B Edmund, an independent valuer, in reference to market based evidence. (d) Assets in the course of construction as at 31 December 2012 and 2011 mainly comprise network related assets. (e) Property, plant and equipment include motor vehicles acquired under finance leases, the net book value of which is made up as follows: Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Cost - capitalised finance leases 36,529 128,920 190,567 Nil 108,334 109,491 Accumulated depreciation (36,529) (128,920) (171,426) Nil (108,334) (106,254) Net book value Nil Nil 19,141 Nil Nil 3,237 The Group leases vehicles under non cancellable finance lease agreements with repayment terms of four to five years. (f) Depreciation expense has been charged under following expense categories: Group Company 2012 2011 2012 2011 Expenses categories: Direct costs 8,846,012 8,004,890 7,431,682 7,159,962 Administrative costs 1,252,005 1,618,226 327,092 447,335 10,098,017 9,623,116 7,758,774 7,607,297 (g) Impairment provisions/(reversals) have been charged under following expenses categories: Group Company 2012 2011 2012 2011 Direct costs 29,402 6,393 Nil Nil Administrative costs 755,977 73,507 712,334 (5,035) 785,379 79,900 712,334 (5,035) (h) At 31 December 2012, property, plant and equipment includes fully depreciated assets which are still in use, the cost of which amounted to Rs. 9,915,002,899 (2011 - Rs. 8,504,570,460) and Rs. 26,207,302,887 (2011 - Rs. 11,664,971,726), for the Company and the Group respectively. (i) No borrowing costs were capitalised during the years 2012 and 2011. (j) None of the land and buildings are secured against bank borrowings.
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Introduction to the Company Dialog
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Mr. Moksevi Prelis Independent, Non
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Mr. James Maclaurin Non-Independent
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Group NPAT Rs. Mn +23% 7,000 6,000
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Gross Debt to Equity 2.0 1.5 1.0 0.
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Dialog Axiata PLC - Financial Revie
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EBITDA Annual Report 2012 l Dialog
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Table 1: Market information on DIAL
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