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Statements of Financial Position
As at 31 December 2011
Assets
Group Company
2011 2010 2011 2010
Note RM’000 RM’000 RM’000 RM’000
Non-current assets
Property, plant and equipment 15 92,378 94,523 17,342 13,046
Prepaid land lease payments 16 1,254 1,174 – –
Base inventory 3,000 3,000 3,000 3,000
Intangible assets 17 1,721 1,547 – –
Investment in subsidiaries 18 – – 88,725 88,725
Investment in associates and jointly controlled entity 19 174,181 148,539 62,236 72,890
Investment securities 20 17,736 34,367 17,736 34,367
Other non-current assets 21 99,172 84,531 – –
Other receivables 24 4,523 2,607 4,523 2,607
Deferred tax assets 33 17,950 11,083 3,316 1,256
411,915 381,371 196,878 215,891
Current assets
Inventories 23 303,122 404,320 156,534 283,608
Trade and other receivables 24 309,030 258,768 333,703 252,045
Other current assets 25 4,570 7,144 4,362 3,000
Tax recoverable 7,525 22,162 – –
Derivative financial instruments 34 – 1,162 – 1,162
Cash, bank balances and deposits 26 235,697 119,244 178,367 78,378
859,944 812,800 672,966 618,193
Assets of disposal group classified as held for sale 22 – 25,476 – 25,087
859,944 838,276 672,966 643,280
Total assets 1,271,859 1,219,647 869,844 859,171
Equity and liabilities
Current liabilities
Provisions 27 15,119 6,088 – –
Borrowings 28 525,383 618,648 470,657 569,973
Trade and other payables 29 178,976 146,175 87,768 84,484
Current tax payable 20,600 25,870 2,829 3,055
Derivative financial instruments 34 419 1 419 1
740,497 796,782 561,673 657,513
Liabilities directly associated with disposal group
classified as held for sale 22 – 11,309 – –
740,497 808,091 561,673 657,513
Net current assets/(liabilities) 119,447 30,185 111,293 (14,233)
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 77