Notes to Financial Statements

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74Middle East Development Singapore Ltd.Annual Report 2008Notes to Financial Statements30 June 200830 RECLASSIFICATIONS AND COMPARATIVE FIGURESCertain reclassifi cations have been made to the prior year’s fi nancial statements to enhance comparability with thecurrent year’s fi nancial statements.As a result, certain line items have been amended on the face of the balance sheet, profi t and loss statement,statement of changes in equity and cash fl ow statements, and the related notes to the fi nancial statements.Comparative fi gures have been adjusted to conform with the current year’s presentation.PreviouslyreportedGroupReclassificationAfterreclassification2007 2007 2007$ $ $Balance SheetAmount due from contract customers – 460,276 460,276Inventories 1,391,671 (460,276) 931,395Trade and other payables 4,568,187 (66,927) 4,501,260Amount due to contract customers – 66,927 66,927Profit and loss statementOther operating income 56,607 393,504 450,111Financial income 361,745 (361,745) –Financial expense (113,811) 113,811 –Other credits/(charges) 30,295 (30,295) –Other operating expenses – (45,865) (45,865)Finance cost – (69,410) (69,410)
Middle East Development Singapore Ltd.Annual Report 2008 75Statement of DirectorsIn the opinion of the directors, the consolidated fi nancial statements of the Group and balance sheet and statement ofchanges in equity of the Company as set out on pages 32 to 74 are drawn up so as to give a true and fair view of the stateof affairs of the Group and of the Company as at 30 June 2008, and of the results, changes in equity and the cash fl ows ofthe Group, and changes in equity of the Company for the fi nancial year then ended and at the date of this statement, thereare reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due.ON BEHALF OF THE DIRECTORSDr Oussama Al-DimashkiKim Leng Choon26 September 2008
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