Hatching For The Future - teo seng capital berhad

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Teo Seng Capital Berhad Notes To The Financial Statements For The Financial Year Ended 31 March 2012 4. ACCOUNTING POLICIES AND STANDARDS (cont’d) 4.6 Critical Accounting Estimates and Judgements (Cont’d) (f) (g) Impairment of trade and other receivables An impairment loss is recognised when there is objective evidence that a financial asset is impaired. Management specifically reviews its loans and receivables financial assets and analyses historical bad debts, customer concentrations, customer creditworthiness, current economic trends and changes in the customer payment terms when making a judgement to evaluate the adequacy of the allowance for impairment losses. Where there is objective evidence of impairment, the amount and timing of future cash flows are estimated based on historical loss experience for assets with similar credit risk characteristics. If the expectation is different from the estimation, such difference will impact the carrying amount of receivables. Revaluation of properties Certain properties of the Group are reported at valuation which is based on valuations performed by independent professional valuers. The independent professional valuers have exercised judgement in determining discount rates, estimates of future cash flows, capitalisation rate, terminal year value, market freehold rental and other factors used in the valuation process. Also, judgement has been applied in estimating prices for less readily observable external parameters. Other factors such as model assumptions, market dislocations and unexpected correlations can also materially affect these estimates and the resulting valuation estimates. (h) (i) Impairment of available-for-sale financial assets The Group reviews its available-for-sale financial assets at the end of each reporting period to assess whether they are impaired. The Group also records impairment loss on available-for-sale equity investments when there has been a significant or prolonged decline in the fair value below their cost. The determination of what is “significant” or “prolonged” requires judgement. In making this judgement, the Group evaluates, among other factors, historical share price movements and the duration and extent to which the fair value of an investment is less than its cost. Fair value estimates for certain financial assets and liabilities The Group carries certain financial assets and liabilities at fair value, which requires extensive use of accounting estimates and judgement. While significant components of fair value measurement were determined using verifiable objective evidence, the amount of changes in fair value would differ if the Group uses different valuation methodologies. Any changes in fair value of these assets and liabilities would affect profit and/or equity. Annual Report 2012 60
Teo Seng Capital Berhad Notes To The Financial Statements For The Financial Year Ended 31 March 2012 5. PROPERTY, PLANT AND EQUIPMENT Group – At 31 March 2012 * Freehold land, farm and poultry buildings *Leasehold land, freehold land and factory buildings Plant and machinery Fish pond and equipment Egg layer conveyor and cages system Motor vehicles, electrical installation, furniture, fittings, equipment, renovation Capital workin-progress and hostel RM RM RM RM RM RM RM RM Total At cost / valuation At 1 April 2011 62,647,601 13,446,482 32,295,751 - 28,869,268 22,718,739 2,289,161 162,267,002 Additions 3,671,080 - 775,389 113,286 4,165,371 5,198,852 15,226,062 29,150,040 Disposals (638,175) - - - - (541,007) - (1,179,182) Write off - - - - (1,061,957) (187,687) - (1,249,644) Acquisition of subsidiaries - 1,130,625 340,360 - - 778,647 - 2,249,632 Reclassification 6,022,260 - 7,783,942 312,325 1,103,400 698,035 (15,919,962) - Foreign exchange difference - - - - - 11,008 - 11,008 At 31 March 2012 71,702,766 14,577,107 41,195,442 425,611 33,076,082 28,676,587 1,595,261 191,248,856 Representing : At valuation - 10,512,166 - - - - - 10,512,166 At cost 71,702,766 4,064,941 41,195,442 425,611 33,076,082 28,676,587 1,595,261 180,736,690 71,702,766 14,577,107 41,195,442 425,611 33,076,082 28,676,587 1,595,261 191,248,856 Less : Accumulated Depreciation At 1 April 2011 17,580,286 284,630 17,067,022 - 10,395,782 12,776,738 - 58,104,458 Charge for the financial year 2,208,343 172,329 2,195,898 - 1,549,756 2,916,956 - 9,043,282 Disposals - - - - - (408,641) - (408,641) Write off - - - - (1,021,155) (150,223) - (1,171,378) Acquisition of subsidiaries - 21,479 127,979 - - 346,924 - 496,382 Reclassification (621) - 21,170 - - (20,549) - - Foreign exchange difference - - - - - 3,708 - 3,708 At 31 March 2012 19,788,008 478,438 19,412,069 - 10,924,383 15,464,913 - 66,067,811 Representing : At valuation - 325,650 - - - - - 325,650 At cost 19,788,008 152,788 19,412,069 - 10,924,383 15,464,913 - 65,742,161 19,788,008 478,438 19,412,069 - 10,924,383 15,464,913 - 66,067,811 Carrying amount At 31 March 2012 51,914,758 14,098,669 21,783,373 425,611 22,151,699 13,211,674 1,595,261 125,181,045 Representing : At valuation - 10,186,516 - - - - - 10,186,516 At cost 51,914,758 3,912,153 21,783,373 425,611 22,151,699 13,211,674 1,595,261 114,994,529 51,914,758 14,098,669 21,783,373 425,611 22,151,699 13,211,674 1,595,261 125,181,045 Annual Report 2012 61
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Livestock Asia Expo and Forum held
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Teo Seng Capital Berhad Profile Of
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Lot PTD 25740, Batu 4, Jalan Air Hi
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