Download PDF - ChartNexus
Download PDF - ChartNexus
Download PDF - ChartNexus
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Notes to the Financial Statements (cont’d)<br />
For the financial year ended 31 December 2011<br />
17. Intangible assets<br />
Group<br />
Mining<br />
rights<br />
RM’000<br />
Goodwill<br />
RM’000<br />
Corporate<br />
club<br />
membership<br />
RM’000<br />
Total<br />
RM’000<br />
Cost<br />
At 1 January 2011 12,103 657 513 13,273<br />
Additions – – 350 350<br />
At 31 December 2011 12,103 657 863 13,623<br />
At 1 January 2010 12,103 6,166 – 18,269<br />
Acquisition of subsidiaries – 657 513 1,170<br />
Attributable to disposal group classified as held for<br />
sale (Note 22) – (5,735) – (5,735)<br />
Translation difference – (431) – (431)<br />
At 31 December 2010 12,103 657 513 13,273<br />
Accumulated amortisation and impairment losses<br />
At 1 January 2011 10,959 657 110 11,726<br />
Amortisation for the year (Note 4) 132 – 44 176<br />
At 31 December 2011 11,091 657 154 11,902<br />
At 1 January 2010 10,420 – – 10,420<br />
Acquisition of subsidiaries – – 91 91<br />
Amortisation for the year (Note 4) 539 – 19 558<br />
Impairment loss (Note 11) – 5,188 – 5,188<br />
Attributable to disposal group classified as held for<br />
sale (Note 22) – (4,531) – (4,531)<br />
At 31 December 2010 10,959 657 110 11,726<br />
Net carrying amount<br />
At 31 December 2011 1,012 – 709 1,721<br />
At 31 December 2010 1,144 – 403 1,547<br />
Mining rights<br />
Mining rights consist of the estimated fair value of tin reserves and resources of Rahman Hydraulic Tin Sdn. Bhd. at date of<br />
acquisition and cost incurred for the renewal of the mining rights. The acquisition price was based on the projected value of<br />
the estimated quantity of recoverable ore reserves and resources of the mining lease.<br />
Based on the assessment and review made by the management, there is no indication of impairment in the mining rights of<br />
Rahman Hydraulic Tin Sdn. Bhd..<br />
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 119