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Notes to the Financial Statements (cont’d) For the financial year ended 31 December 2011 29. Trade and other payables Group Company 2011 2010 2011 2010 RM’000 RM’000 RM’000 RM’000 Current Trade payables Third parties 50,734 53,369 29,157 35,735 Subsidiaries – – 11,763 20,597 50,734 53,369 40,920 56,332 Other payables Third parties 85,692 72,418 11,814 12,740 Holding company 47 109 47 109 Subsidiaries – – 64 2,667 Jointly controlled entity 29,166 – 29,166 – 114,905 72,527 41,091 15,516 Accruals 13,337 20,279 5,757 12,636 128,242 92,806 46,848 28,152 Total trade and other payables 178,976 146,175 87,768 84,484 Add: Loans and borrowings (Note 28) 563,453 701,040 494,451 612,961 Total financial liabilities carried at amortised cost 742,429 847,215 582,219 697,445 (a) Trade payables - third parties Trade payables are non-interest bearing and the normal trade credit terms granted to the Group range from cash payment to 90 days. (b) Other payables - third parties Other payables are non-interest bearing and the normal credit terms granted to the Group range from cash payment to 90 days. (c) Amount due to holding company Amount due to holding company is non-interest bearing and are repayable on demand. This amount is unsecured and is to be settled in cash. Further details on related party transactions are disclosed in Note 37. Other information on financial risks of payables are disclosed in Note 38. (d) Amount due to subsidiaries Amount due to subsidiaries are non-interest bearing and are repayable on demand. These amounts are unsecured and are to be settled in cash. Further details on related party transactions are disclosed in Note 37. Other information on financial risks of payables are disclosed in Note 38. MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 139
Notes to the Financial Statements (cont’d) For the financial year ended 31 December 2011 30. Share capital and share premium 140 Building on Success: Developing Resources for the Future Number of ordinary shares of RM1 each Amount Share Share Total capital capital share capital (issued and (issued and Share and share fully paid) fully paid) premium premium Group ‘000 RM’000 RM’000 RM’000 At 1 January 2010/31 December 2010/1 January 2011 75,000 75,000 1,706 76,706 Issue of ordinary shares 25,000 25,000 79,187 104,187 Share issuance expenses – – (4,521) (4,521) At 31 December 2011 100,000 100,000 76,372 176,372 Company At 1 January 2010/31 December 2010/1 January 2011 75,000 75,000 – 75,000 Issue of ordinary shares 25,000 25,000 79,187 104,187 Share issuance expenses – – (4,521) (4,521) At 31 December 2011 100,000 100,000 74,666 174,666 Number of ordinary shares of RM1 each Amount 2011 2010 2011 2010 ‘000 ‘000 RM’000 RM’000 Authorised share capital: At 1 January/ 31 December 500,000 500,000 500,000 500,000 The share premium of RM1,706,000 as at 31 December 2010 represents share of post acquisition share premium of an associate, i.e. Redring Solder (M) Sdn. Bhd.. On 26 January 2011, a total of 25,000,000 new ordinary shares of the Company were allotted and issued in conjunction with the secondary listing of the Company’s shares in Singapore Exchange Securities Trading Limited (SGX-ST). This resulted in the increase of the enlarged issued and paid-up share capital of the Company to RM100,000,000, comprising 100,000,000 ordinary shares of RM1.00 each. On 27 January 2011, the secondary listing was completed following the listing of and quotation for the entire enlarged issued and paid-up share capital of the Company of RM100,000,000 comprising 100,000,000 ordinary shares of RM1.00 each on the Main Board of SGX-ST. The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share without restrictions and rank equally with regard to the Company residual assets.
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ANNUAL REPORT 2011 Building on Succ
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viSion To be a successful world-cla
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Corporate Profile Malaysia Smelting
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Corporate Profile (cont’d) For of
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Notice of Annual General Meeting NO
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Group Financial Highlights 10 Build
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Board of Directors From left to rig
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Directors’ Profile 14 Building on
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Statement by the Chairman 18 Buildi
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Securing the Future (cont’d) 32 B
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Securing the Future (cont’d) Ore
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Tin Market Review 2011-2012 (cont
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Tin Market Review 2011-2012 (cont
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Directors’ Report The directors h
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Notes to the Financial Statements (
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Page 181 and 182: Shareholding Statistics as at 21 Ma
Page 183 and 184: Shareholding Statistics (cont’d)
Page 185 and 186: 184 To: The Company Secretary MALAY
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