TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
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<strong>TANJUNG</strong> <strong>OFFSHORE</strong> <strong>BERHAD</strong> (662315-U)<br />
ANNUAL REPORT 2009<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
31 DECEMBER 2009<br />
9. DEFERRED TAXATION<br />
GROUP 2009 2008<br />
RM RM<br />
Property, plant and equipment:<br />
Beginning of the year 6,607,227 5,886,227<br />
Acquisition of subsidiary company 71,600 -<br />
Recognised in the income statement (Note 24) 1,404,913 721,000<br />
End of the year 8,083,740 6,607,227<br />
The deferred tax, determined before appropriate offsetting as follows:<br />
88<br />
2009 2008<br />
RM RM<br />
Deferred tax assets 8,170,175 6,607,227<br />
Deferred tax liabilities (86,435) -<br />
The deferred tax assets, determined after appropriate offsetting as follows:<br />
8,083,740 6,607,227<br />
2009 2008<br />
RM RM<br />
Unabsorbed capital allowances 24,442,136 37,016,062<br />
Accelerated capital allowances (17,205,850) (31,256,289)<br />
Exercise of options pursuant to Employee Share Option Scheme 847,454 847,454<br />
10. INVENTORIES<br />
8,083,740 6,607,227<br />
GROUP 2009 2008<br />
RM RM<br />
At cost:<br />
Turbine compressor spare parts 1,532,082 1,036,369<br />
Work-in-progress 2,890,524 5,188,718<br />
Raw material 442,076 -<br />
Finished goods 513,643 -<br />
Long term contract balances 3,972,845 12,021,253<br />
11. TRADE RECEIVABLES<br />
The currency exposure profi le of trade receivables are as follows:-<br />
9,351,170 18,246,340<br />
GROUP 2009 2008<br />
RM RM<br />
Ringgit Malaysia 197,086,884 174,080,088<br />
Other foreign currencies 18,732,705 64,366,874<br />
End of the year 215,819,589 238,446,962<br />
The credit term of trade receivables are ranging from 30 to 120 days.
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