ENRICHING LIVES EXPANDING HORIZONS - Maxis

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136 Financial Statements NOTES TO THE FINANCIAL STATEMENTS 31 December 2011 Continued 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (w) Contingent liabilities The Group does not recognise a contingent liability but discloses its existence in the financial statements. A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence of one or more uncertain future events beyond the control of the Group or a present obligation that is not recognised because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in the extremely rare circumstance where there is a liability that cannot be recognised because it cannot be measured reliably. In the acquisition of subsidiaries by the Group under a business combination, the contingent liabilities assumed are measured initially at their fair value at the acquisition date, irrespective of the extent of any non-controlling interests. The Group recognises separately the contingent liabilities of the acquiree as part of allocating the cost of a business combination where their fair values can be measured reliably. Where the fair values cannot be measured reliably, the resulting effect will be reflected in the goodwill arising from the acquisition. Subsequent to the initial recognition, the Group measures the contingent liabilities that are recognised separately at the date of acquisition at the higher of the amount that would be recognised in accordance with the provisions of FRS 137 and the amount initially recognised less, when appropriate, cumulative amortisation recognised in accordance with FRS 118. (x) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decisionmakers. The chief operating decision-makers comprise the Directors, Chief Executive Officer, Chief Financial Officer and Joint Chief Operating Officers. The chief operating decision-makers are responsible for allocating resources, assessing performance of the operating segments and making strategic decisions. Segment revenues and expenses are those amounts resulting from the operating activities of a segment that are directly attributable to the segment and the relevant portion that can be allocated on a reasonable basis to the segment. Segment revenues and expenses are determined before intragroup balances and intragroup transactions are eliminated as part of the consolidation process, except to the extent that such intragroup balances and transactions are between group companies within a single segment. 4 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS Estimates and judgments are continually evaluated by the Directors and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, rarely equal the related actual results. To enhance the information content of the estimates, certain key variables that are anticipated to have material impact on the Group’s results and financial position are tested for sensitivity to changes in the underlying parameters. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below. (a) Intangible assets The telecommunications licences with allocated spectrum rights are not subject to amortisation and are tested annually for impairment as the Directors are of the opinion that the licences can be renewed in perpetuity at negligible cost and the associated spectrum rights, similar to land, have an infinite economic useful life. Correspondingly, deferred tax has not been recognised.
MAXIS BERHAD ANNUAL REPORT 2011 137 4 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (CONTINUED) Critical accounting estimates and assumptions (continued) (a) Intangible assets (continued) The estimated economic useful life reflects the Group’s expectation of the period over which the Group will continue to recover benefits from the licence. The economic useful life is periodically reviewed, taking into consideration such factors as changes in technology and regulatory environment. (b) Estimated useful lives of property, plant and equipment The Group reviews annually the estimated useful lives of property, plant and equipment based on factors such as business plans and strategies, expected level of usage and future technological developments. It is possible that future results of operations could be materially affected by changes in these estimates brought about by changes in the factors mentioned. A reduction in the estimated useful lives of property, plant and equipment would increase the recorded depreciation and decrease the carrying value of property, plant and equipment. See Note 15 to the financial statements for the impact on the changes in the estimated useful lives of property, plant and equipment. (c) Provisions for liabilities and charges The Group recognises provisions for liabilities and charges when it has a present legal or constructive obligation arising as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. The recording of provision requires the application of judgments about the ultimate resolution of these obligations. As a result, provisions are reviewed at each reporting date and adjusted to reflect the Group’s current best estimate. See Note 30 to the financial statements for the impact on change in estimate in relation to the provision for site rectification and decommissioning works. 5 SEGMENT REPORTING During the financial year, an additional reportable operating segment, Home services, which was previously included in the Fixed line services segment has been reported as a separate reportable operating segment in line with the internal reporting provided to the chief operating decision-makers. Fixed line services is now reported as Enterprise fixed services. The comparative segment information for the financial year ended 31 December 2010 has been restated to conform with the segment reporting presented in the current financial year and the restatement of comparative information is disclosed in Note 37(a) to the financial statements. Arising from the above, the Group is now operating in four key reportable operating segments described as follows: (i) mobile services comprise postpaid mobile, prepaid mobile, mobile data, broadband and roaming services; (ii) enterprise fixed services comprise a full suite of voice services, data services, VSAT services and IP and managed services to cater for business customers; (iii) international gateway services comprise services to international telecommunications carriers for termination of traffic into Malaysia, services to send the Group’s own international traffic abroad and bandwidth leasing services; and (iv) home services comprise fixed voice services and data services to home customers. The Group also provides other services which are currently not significant enough to be reported separately.
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ENRICHING LIVES EXPANDING HORIZONS
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CONTENTS Introduction 2 Our Company
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MAXIS BERHAD ANNUAL REPORT 2011 3 I
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MAXIS BERHAD ANNUAL REPORT 2011 5 C
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MAXIS BERHAD ANNUAL REPORT 2011 7 I
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MAXIS BERHAD ANNUAL REPORT 2011 9 2
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Maxis Berhad Annual Report 2011 77
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Page 89 and 90: • ALIGNED TO CORPORATE STRATEGY A
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186 Financial Statements NOTES TO T
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198 Financial Statements STATEMENT
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200 Financial Statements INDEPENDEN
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202 SMALL SHOP, BIG DREAMS In busin
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204 Corporate Governance AUDIT COMM
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212 Corporate Governance STATEMENT
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228 OUT OF TOWN NEVER OUT OF TOUCH
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230 Corporate Governance INTERNAL C
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236 Corporate Governance RISK MANAG
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238 Corporate Governance RISK MANAG
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240 Corporate Governance ETHICAL BU
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242 Analysis of Shareholdings DISTR
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244 Analysis of Shareholdings 30 LA
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246 Analysis of Shareholdings INFOR
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248 Other Information LIST OF PROPE
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250 Other Information DISCLOSURE OF
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280 Other Information MATERIAL CONT
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286 Other Information GLOSSARY 2G S
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288 Other Information GLOSSARY Cont
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290 MAXIS EXCLUSIVE PARTNERS CENTRA
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292 Other Information MAXIS EXCLUSI
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302 Annual General Meeting NOTICE O
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NOTES
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fold here STAMP Maxis Berhad (86757
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fold here STAMP Maxis Berhad (86757
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ENRICHING LIVES EXPANDING HORIZONS - Maxis

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