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FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)2. Summary of significant accounting policies (Continued)(e)Intangible assets (Continued)Computer Softwareand added to the original cost of the software. Costs associated with maintaining computer software are recognised as an expense as incurred.Computer software licences are stated at cost less accumulated amortisation and accumulated impairment in value, if any. These costs are amortised using the(f)Subsidiarieshalf of the voting rights. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether theGroup controls another entity.Investments in subsidiaries are stated at cost on the Company’s balance sheet less impairment in value, if any.(g)Financial assetsClassificationLoans and receivablesCompany’s cash management.in value.
NOTES TO THE FINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)2. Summary of significant accounting policies (Continued)(g)Financial assets (Continued)Recognition and derecognitionRegular purchases and sales of financial assets are recognised on trade-date, the date on which the Group and the Company commit to purchase or sell theasset.Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group and theCompany have transferred substantially all risks and rewards of ownership.On sale of a financial asset, the difference between the carrying amount and the net sale proceeds is recognised in the income statement. Any amount in the fairvalue reserve relating to the asset is also recognised in the income statement.Initial and subsequent measurementFinancial assets are initially recognised at fair value plus transaction costs.After initial recognition, loans and receivables are carried at amortised cost using the effective interest method, less impairment in value, if any.ImpairmentThe Group and the Company assess at each balance sheet date whether there is objective evidence that a financial asset or a group of financial assets isimpaired.Loans and receivablesAn allowance for impairment of loans and receivables is recognised when there is objective evidence that the Group and the Company will not be able to collect allamounts due according to the original terms of the receivables. The amount of allowance is the difference between the asset’s carrying amount and the presentvalue of estimated future cash flows, discounted at the original effective interest rate. The carrying amount of the asset is reduced through the use of an allowanceaccount. The amount of the loss is recognised in the income statement.If, in a subsequent period, the amount of the impairment in value decreases and the decrease can be related objectively to an event occurring after the impairmentwas recognised, the previously recognised impairment in value shall be reversed either directly or by adjusting an allowance account. Any subsequent reversal ofan impairment in value is recognised in the income statement, to the extent that the carrying amount of the asset does not exceed its amortised cost at the reversaldate.HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200749
Page 3: Successfulimplementationof secondsa
Page 6 and 7: CHAIRMAN’S STATEMENT (CONT’D)pr
Page 8 and 9: 6HG METAL MANUFACTURING LIMITED ANN
Page 10 and 11: 8 HG METAL MANUFACTURING LIMITED AN
Page 12 and 13: OPERATIONS & FINANCIAL REVIEW (CONT
Page 14 and 15: Executive ChairmanMr Tan Chan Too,
Page 16 and 17: REAPING REWARDS
Page 18 and 19: CORPORATE INFORMATIONBOARD OF DIREC
Page 20 and 21: CORPORATE GOVERNANCE STATEMENTPrinc
Page 22 and 23: CORPORATE GOVERNANCE STATEMENTThe R
Page 24 and 25: CORPORATE GOVERNANCE STATEMENTExecu
Page 26 and 27: CORPORATE GOVERNANCE STATEMENTThe G
Page 28 and 29: REPORT OF THE DIRECTORSThe Director
Page 30 and 31: REPORT OF THE DIRECTORS (Continued)
Page 32 and 33: REPORT OF THE DIRECTORS (Continued)
Page 34 and 35: INDEPENDENT AUDITORS’ REPORTTO TH
Page 36 and 37: BALANCE SHEETSAS AT 30 SEPTEMBER 20
Page 38 and 39: CONSOLIDATED INCOME STATEMENTFOR TH
Page 40 and 41: STATEMENTS OF CHANGES IN EQUITYFOR
Page 42 and 43: CONSOLIDATED CASH FLOW STATEMENTFOR
Page 44 and 45: NOTES TO THE FINANCIAL STATEMENTSFO
Page 84 and 85: FOR THE FINANCIAL YEAR ENDED 30 SEP
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NOTES TO THE FINANCIAL STATEMENTSFO
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APPENDIX1. INTRODUCTIONThe director
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APPENDIX(ii)an “interested person
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APPENDIX2.4 CATEGORIES OF INTERESTE
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APPENDIXContracts for the same or s
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APPENDIX(b)Substantial Shareholders
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APPENDIXDuring its periodic review
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SHAREHOLDERS STATISTICas at 17 Dece
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SHAREHOLDERS STATISTICas at 17 Dece
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WARRANTHOLDINGS STATISTICas at 17 D
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NOTICE OF ANNUAL GENERAL MEETINGnum
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Explanatory Note for item 7 above:-
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PROXY FORMHG METAL MANUFACTURING LI
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A META FUSION DESIGN
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