2012 Annual Report - Media Prima Berhad
2012 Annual Report - Media Prima Berhad
2012 Annual Report - Media Prima Berhad
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<strong>Media</strong> <strong>Prima</strong> <strong>Berhad</strong><br />
Notes to<br />
the Financial Statements<br />
for the financial year ended 31 December <strong>2012</strong><br />
29 INTANGIBLE ASSETS (CONTINUED)<br />
Group<br />
Acquired Acquired<br />
concession concession Acquired<br />
rights and rights and publishing<br />
outdoor outdoor rights<br />
Programmes advertising advertising and<br />
rights Film rights Goodwill rights rights contracts<br />
(definite (definite (indefinite (definite (indefinite (indefinite<br />
life) life) life) life) life) life) Total<br />
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000<br />
At 1 January 2011 15,788 10,276 128,170 27,138 39,446 161,012 381,830<br />
Additions 161,342 16,434 – – – – 177,776<br />
177,130 26,710 128,170 27,138 39,446 161,012 559,606<br />
Amortisation during<br />
the financial year (167,578) (11,605) – (4,272) – – (183,455)<br />
Write off during the<br />
financial year (5,632) (64) – – – – (5,696)<br />
At 31 December 2011 3,920 15,041 128,170 22,866 39,446 161,012 370,455<br />
Intangible assets with indefinite useful lives are tested for impairment on an annual basis. Included in intangible<br />
assets are acquired rights which have indefinite useful lives, totalling RM200.4 million (2011: RM200.4 million;<br />
1.1.2011: RM200.4 million). These assets are deemed to have indefinite useful lives as they are renewable with<br />
minimum cost to the Group and there is no foreseeable limit to the period over which the assets are expected to<br />
generate net cash inflows for the Group. Based on the test performed as described below, the Directors concluded<br />
that the recoverable amount, calculated based on value-in-use, is higher than the carrying amount.<br />
Impairment tests for intangible assets with indefinite useful life<br />
The carrying amounts of intangible assets allocated to the Group’s cash-generating units (“CGUs”) are as follows:<br />
Group<br />
<strong>2012</strong> 2011 1.1.2011<br />
RM’000 RM’000 RM’000<br />
NSTP Group 161,012 161,012 161,012<br />
BTO Group 116,638 116,638 116,638<br />
Kurnia Group 35,273 35,273 35,273<br />
One FM 11,384 11,384 11,384<br />
Others 4,321 4,321 4,321<br />
328,628 328,628 328,628<br />
220<br />
annual<br />
report<br />
<strong>2012</strong><br />
No impairment loss was required for the carrying amounts of the intangible assets above assessed as at 31<br />
December <strong>2012</strong> as their recoverable amounts were in excess of their carrying amounts.
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