2011 Annual Report - the solid group inc website

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- 14 - The Group’s financial assets categorized as loans and receivables are presented as Cash and Cash Equivalents, Trade and Other Receivables (excluding Advances to suppliers), Advances to Related Parties and Refundable Deposits (presented as part of Other Current Assets) in the consolidated statement of financial position. Cash and cash equivalents are defined as cash on hand, demand deposits and short-term, highly liquid investments readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value. (b) Financial Asset at FVTPL This category includes financial assets that are either classified as held-for-trading or that meets certain conditions and are designated by the entity to be carried at fair value through profit or loss upon initial recognition. All derivatives fall into this category, except for those designated and effective as hedging instruments. Assets in this category are classified as current if they are either held for trading or are expected to be realized within 12 months from the end of the reporting period. Financial assets at FVTPL are measured at fair value, and changes therein are recognized in profit or loss. Financial assets (except derivatives and financial instruments originally designated as financial assets at FVTPL) may be reclassified out of FVTPL category if they are no longer held for the purpose of being sold or repurchased in the near term. (c) AFS Financial Assets This category includes non-derivative financial assets that are either designated to this category or do not qualify for inclusion in any of the other categories of financial assets. They are included in non-current assets under the AFS Financial Assets account in the consolidated statement of financial position unless management intends to dispose of the investment within 12 months from the end of reporting period. The Group’s financial assets include country club shares, golf club shares, listed equity securities, and corporate bonds. All AFS financial assets within this category are subsequently measured at fair value. Gains and losses from changes in fair value are recognized in other comprehensive income, net of any income tax effects, and are reported as part of the Revaluation Reserve account in equity. When the financial asset is disposed of or is determined to be impaired, the cumulative fair value gains or losses recognized in other comprehensive income is reclassified from equity to profit or loss and is presented as reclassification adjustment within other comprehensive income. Reversal of impairment loss is recognized in other comprehensive income, except for financial assets that are debt securities which are recognized in profit or loss only if the reversal can be objectively related to an event occurring after the impairment loss was recognized. All income and expenses, including impairment losses, relating to financial assets that are recognized in profit or loss are presented in the consolidated statement of income line item Finance Income and Finance Costs, respectively.
- 15 - For investments that are actively traded in organized financial markets, fair value is determined by reference to stock exchange-quoted market bid prices at the close of business on the end of reporting period. For investments where there is no quoted market price, fair value is determined by reference to the current market value of another instrument which is substantially the same or is calculated based on the expected cash flows of the underlying net asset base of the investment. Non-compounding interest and other cash flows resulting from holding financial assets are recognized in profit or loss when earned, regardless of how the related carrying amount of financial assets is measured. The financial assets are derecognized when the rights to receive cash flows from the financial instruments expire or when substantially all of the risks and rewards of ownership have been transferred. 2.6 Merchandise Inventories and Supplies Inventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and condition is determined as follows: (a) (b) Raw materials and service parts, supplies and others – on a moving average method. The cost of raw materials, service parts, supplies and others include all costs directly attributable to the acquisitions, such as the purchase price, import duties and other taxes that are not subsequently recoverable from taxing authorities. Merchandise and finished goods, and work-in-process – on a moving average method; cost includes direct materials and labor and a proportion of manufacturing overheads based on normal operating capacity. Net realizable value of finished goods and work-in-process inventories is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. Net realizable value of raw materials, service parts, supplies and others is the current replacement cost. 2.7 Real Estate Inventories Real estate inventories consist of the following: (a) Land and Land Development Costs Land and land development costs includes the acquisition cost of raw land intended for future development and sale, including other costs and expenses incurred to effect the transfer of property title are included in this account. (b) Property Development Costs Property development costs include the cost of land used as a building site for a condominium project and the accumulated costs incurred in developing and constructing the property for sale.
Page 2 and 3: Table of Contents Message to Stockh
Page 4 and 5: Operations Review and Prospects 201
Page 6 and 7: Real Estate IMPROVING VALUATIONS Ou
Page 8 and 9: Board of Directors Susan L. Tan Cha
Page 10 and 11: !" # $"##$"%##&$!'()*(()*(*#)**+
Page 12 and 13: 10 SOLID GROUP INC. ANNUAL REPORT 2
Page 20 and 21: - 2 - Notes: (a) (b) (c) (d) (e) (f
Page 22 and 23: - 4 - (b) Presentation of Consolida
Page 24 and 25: - 6 - (iv) 2010 Annual Improvements
Page 26 and 27: - 8 - (c) Effective Subsequent to 2
Page 28 and 29: - 10 - (vii) Consolidation Standard
Page 30 and 31: - 12 - The acquisition method is ap
Page 34 and 35: - 16 - Land and land development co
Page 36 and 37: - 18 - Trade and Other Payables, Ad
Page 38 and 39: - 20 - The recognition criteria for
Page 40 and 41: - 22 - (b) Group as Lessor Leases w
Page 42 and 43: - 24 - Actuarial gains and losses a
Page 44 and 45: - 26 - 2.22 Earnings per Share Basi
Page 46 and 47: - 28 - (f) Provisions and Contingen
Page 48 and 49: - 30 - (h) Realizable Amount of Def
Page 50 and 51: - 32 - 4.3 Intersegment Transaction
Page 52 and 53: - 34 - The total segment balances p
Page 54 and 55: - 36 - The net cash flows attributa
Page 56 and 57: - 38 - A reconciliation of the allo
Page 58 and 59: - 40 - A reconciliation of the allo
Page 60 and 61: - 42 - 12. REAL ESTATE INVENTORIES
Page 62 and 63: - 44 - 13. PROPERTY, PLANT AND EQUI
Page 64 and 65: - 46 - No additional impairment los
Page 66 and 67: 48 Notes 2011 2010 Non-current: Ref
Page 68 and 69: 50 The changes in the Reserve for W
Page 70 and 71: 52 19.2 Cost of Services The follow
Page 72 and 73: 54 Items classified under the misce
Page 74 and 75: 56 23.2 Post-employment Benefit The
Page 76 and 77: 58 The amount of post-employment be
Page 78 and 79: 60 The reconciliation of tax on pre
Page 80 and 81: 62 The components of net deferred t
Page 82 and 83:
64 25.2 Revaluation Reserves The co
Page 84 and 85:
66 In 2011 and 2010, Mytel sold mob
Page 86 and 87:
68 28.7 Transactions with Solid Com
Page 88 and 89:
70 29.2 Distributorship Agreement w
Page 90 and 91:
72 30.7 Others There are other comm
Page 92 and 93:
74 (b) Trade and Other Receivables
Page 94 and 95:
76 32.2 Fair Value Hierarchy The ta
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2011 Annual Report - the solid group inc website

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