Operations Review - ChartNexus

More documents

Recommendations

Info

NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2009 (CONTINUED) 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (k) Government grants 204 Grants from government are recognised at their fair values where there are reasonable assurances that the grants will be received and the Group will comply with all attached conditions. Capital grants Government grants relating to capital expenditure are deferred and recognised in the income statement over the period necessary to match them with the costs they are intended to compensate. Government grants relating to the purchase of plant and equipment are included in non-current liabilities as capital grant and are credited to the income statement on a straight line basis over the expected lives of the related assets. Income grants Income grants are grants other than capital grants and recognised in the income statement where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. (l) Provisions Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events, when it is probable that an outflow of resources will be required to settle the obligation, and when a reliable estimate of the amount can be made. Where the Group expects a provision to be reimbursed, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. When the effect of the time value of money is material, the amount of provision is the present value of the expenditure expected to be required to settle the obligation. Provisions are not recognised for future operating losses. (i) Warranties Provision is recognised for the estimated liability on all products under warranty in addition to claims already received and verified. Warranties are provided for a period of between one to three years for vehicles sold. The provision is based on experienced levels of claims arising during the period of warranty. When the Group expects warranties to be reimbursed from suppliers, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain.
NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2009 (CONTINUED) 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (l) Provisions (continued) (ii) Onerous contracts The Group recognises a provision for onerous contracts when the expected benefits to be derived from a contract are less than the unavoidable costs of meeting the obligations under the contract or estimated costs of exiting the contract. (m) Employee benefits (i) Short term employee benefits Salaries, wages, paid annual leave and sick leave, bonuses and non-monetary benefits are accrued in the period in which the associated services are rendered by employees of the Group. (ii) Post employment benefits The Group has various post employment benefit schemes in accordance with the local conditions and practices in the countries in which it operates. The Group has both defined contribution and defined benefit plans. Defined contribution plans The Group’s contributions to defined contribution plans are charged to the Consolidated Income Statements in the period to which they relate. Once the contributions have been paid, the Group has no further payment obligations. Defined benefit plan The liability in respect of a defined benefit plan is the present value of the defined benefit obligation at the balance sheet date minus the fair value of plan assets, together with adjustments for actuarial gains/losses and past service cost. The Group determines the present value of the defined benefit obligation and the fair value of any plan assets with sufficient regularity such that the amounts recognised in the financial statements do not differ materially from the amounts that would be determined at the balance sheet date. The defined benefit obligation, calculated using the projected unit credit method, is determined by independent actuaries on the basis of full triennial valuations and updated annually. Assumptions were made in relation to the annual investment returns, annual salary increases and annual increases in pension payments. Plan assets in excess of the defined benefit obligation are subject to the asset limitation test specified in FRS 119. PROTON 2009 ANNUAL REPORT 205
Page 1 and 2:
PROTON’s MPV, the Exora, goes int
Page 3 and 4:
PROTON Shah Alam Operations Review
Page 5 and 6:
To boost sales in the wake of econo
Page 7 and 8:
Operations Review Production of the
Page 9 and 10:
Evora’s successful press launch i
Page 11 and 12:
A Lotus showroom in Europe. Operati
Page 13 and 14:
PROTON 2009 ANNUAL REPORT 93
Page 15 and 16:
Quality in Supply Operations Review
Page 17 and 18:
Quality in the Market Quality excel
Page 19 and 20:
Page 21 and 22:
Prospects Undoubtedly the economy w
Page 23 and 24:
5-Year Export Volume and 2009/10 Fo
Page 25 and 26:
Indonesia Performance and Operation
Page 27 and 28:
Operations Review An agreement was
Page 29 and 30:
Thailand Performance and Operations
Page 31 and 32:
The Persona is launched Down Under.
Page 33 and 34:
Prospects The year 2009 is expected
Page 35 and 36:
Top: The Centre of Excellence in Su
Page 37 and 38:
Page 39 and 40:
PROTON Malaysia Open 2009, an annua
Page 41 and 42:
Operations Review experience and th
Page 43 and 44:
PROTON conducts numerous training p
Page 45 and 46:
Additionally, Yayasan PROTON carrie
Page 47 and 48:
Operations Review As part of our co
Page 49 and 50:
Operations Review Under Bridging Co
Page 51 and 52:
Page 53 and 54:
End of Life Vehicles The quality of
Page 55 and 56:
Instilling sound commuting practice
Page 57 and 58:
Shouldering Responsibility PROTON
Page 59 and 60:
The Board is also committed to abid
Page 61 and 62:
Statement on Corporate Governance I
Page 63 and 64:
Statement on Corporate Governance P
Page 65 and 66:
Statement on Corporate Governance T
Page 67 and 68:
Statement on Corporate Governance D
Page 69 and 70:
Statement on Corporate Governance B
Page 71 and 72:
Statement on Corporate Governance D
Page 73 and 74: Statement on Corporate Governance R
Page 75 and 76: Statement on Corporate Governance P
Page 77 and 78: Revaluation Policy on Landed Proper
Page 79 and 80: Additional Compliance Information T
Page 81 and 82: Risk Management Risk management is
Page 83 and 84: Statement on Internal Control The B
Page 85 and 86: • Regular visits to operating uni
Page 87 and 88: Risk Governance and Structure Board
Page 89 and 90: war, terrorism, politics, natural d
Page 91 and 92: Bright Outlook Despite challenges,
Page 93 and 94: Aug 2008 PROTON gives away bicycles
Page 95 and 96: Dec 2008 BWF Super Series Masters F
Page 97 and 98: May 2009 Dato’ Mustapa Bin Mohame
Page 99 and 100: Moving Ahead Being committed to met
Page 101 and 102: DIRECTORS’ REPORT The Directors h
Page 103 and 104: DIRECTORS’ REPORT (CONTINUED) STA
Page 105 and 106: INCOME STATEMENTS FOR THE FINANCIAL
Page 107 and 108: BALANCE SHEETS AS AT 31 MARCH 2009
Page 109 and 110: COMPANY STATEMENT OF CHANGES IN EQU
Page 111 and 112: CASH FLOW STATEMENTS FOR THE FINANC
Page 113 and 114: NOTES TO THE FINANCIAL STATEMENTS -
Page 123: NOTES TO THE FINANCIAL STATEMENTS -
Page 175 and 176:
NOTES TO THE FINANCIAL STATEMENTS -
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
INDEPENDENT AUDITORS REPORT TO THE
Page 203 and 204:
SHAREHOLDING STATISTICS AS AT 30 JU
Page 205 and 206:
SHAREHOLDING STATISTICS AS AT 30 JU
Page 207 and 208:
PROPERTIES OWNED BY PROTON GROUP AS
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Notice of Annual General Meeting NO
Page 215 and 216:
Statement Accompanying the Notice o
Page 217 and 218:
✂ FORM OF PROXY PROTON ANNUAL REP
show all

Operations Review - ChartNexus

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?