Annual Report 2012, PDF - Axiata Group Berhad - Investor Relations

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NOTES TO THEFINANCIAL STATEMENTSFOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2012 (CONTINUED)3. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)(g) Financial assets (continued)(i)Classification (continued)(b) Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinable payments thatare not quoted in an active market. They are included in current assets, except for maturitiesgreater than twelve (12) months after the end of the reporting period. These are classified as noncurrentassets.(c) AFS financial assetsAFS financial assets are non-derivatives that are either designated in this category or not classifiedin any of the other categories. They are included in non-current assets unless the investmentmatures or management intends to dispose of it within twelve (12) months from the end of thereporting period.(d) HTM financial assetsHTM financial assets are non-derivative financial assets with fixed or determinable payments andfixed maturities that the Group’s and Company’s management have the positive intention andability to hold to maturity. If the Group and the Company were to sell other than an insignificantamount of HTM financial assets, the whole category would be tainted and reclassified as AFS. HTMfinancial assets are included in non-current assets, except for those with maturities less thantwelve (12) months from the end of the reporting period, which are classified as current assets.(ii) Recognition and initial measurementRegular purchases and sales of financial assets are recognised on the trade-date, the date on whichthe Group and the Company commit to purchase or sell the asset.Financial assets are initially recognised at fair value plus transaction costs for all financial assets notcarried at FVTPL. Financial assets carried at FVTPL are initially recognised at fair value and transactioncosts are expensed in profit or loss.(iii) Subsequent measurement – gains and lossesAFS financial assets and financial assets at FVTPL are subsequently carried at fair value. Loans andreceivables and HTM financial assets are subsequently carried at amortised cost using the effectiveinterest method.Changes in the fair values of financial assets at FVTPL, including the effects of currency translation arerecognised in profit or loss in the period in which the changes arise.Changes in the fair value of AFS financial assets are recognised in other comprehensive income, exceptfor impairment losses (see accounting policy Note 3(g)(iv)(b)) and foreign exchange gains and losseson monetary assets. The exchange differences on monetary assets are recognised in profit or loss,whereas exchange differences on non-monetary assets are recognised in other comprehensive incomeas part of fair value change.186
Axiata Group Berhad (242188-H) Annual Report 20123. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)(g) Financial assets (continued)(iv) Subsequent measurement – Impairment of financial assets(a) Assets carried at amortised costThe Group and the Company assess at the end of the reporting period whether there is objectiveevidence that a financial asset or group of financial assets is impaired. A financial asset or a groupof financial assets is impaired and impairment losses are incurred only if there is objective evidenceof impairment as a result of one or more events that occurred after the initial recognition of theasset (a ‘loss event’) and that loss event (or events) has an impact on the estimated future cashflows of the financial asset or group of financial assets that can be reliably estimated.The criteria that the Group and the Company use to determine that there is objective evidenceof an impairment loss include:• Significant financial difficulty of the issuer or obligor;• A breach of contract, such as a default or delinquency in interest or principal payments;• The Group, for economic or legal reasons relating to the borrower’s financial difficulty, grantingto the borrower a concession that the lender would not otherwise consider;• It becomes probable that the borrower will enter bankruptcy or other financial reorganisation;• Disappearance of an active market for that financial asset because of financial difficulties; or• Observable data indicating that there is a measurable decrease in the estimated future cashflows from a portfolio of financial assets since the initial recognition of those assets, althoughthe decrease cannot yet be identified with the individual financial assets in the portfolio,including:(i)adverse changes in the payment status of borrowers in the portfolio; and(ii) national or local economic conditions that correlate with defaults on the assets in theportfolio.The amount of the loss is measured as the difference between the asset’s carrying amount andthe present value of estimated future cash flows (excluding future credit losses that have not beenincurred) discounted at the financial asset’s original effective interest rate. The asset’s carryingamount of the asset is reduced and the amount of the loss is recognised in profit or loss. If ‘loansand receivables’ or a ‘HTM investment’ has a variable interest rate, the discount rate for measuringany impairment loss is the current effective interest rate determined under the contract. As apractical expedient, the Group and the Company may measure impairment on the basis of aninstrument’s fair value using an observable market price.If, in a subsequent period, the amount of the impairment loss decreases and the decrease can berelated objectively to an event occurring after the impairment was recognised (such as animprovement in the debtor’s credit rating), the reversal of the previously recognised impairmentloss is recognised in profit or loss.When an asset is uncollectible, it is written off against the related accumulated impairment lossesaccount. Such assets are written off after all the necessary procedures have been completed andthe amount of the loss has been determined.187
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AXIATA GROUP BERHAD (242188-H) ANNU
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PakistanBangladeshIndiaThailandCamb
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CONTENTS006 Financial Calenda
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FinancialCalendar 2012QUARTERLY RES
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Raising The BarAxiata is continuous
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Chairman’sStatementTan Sri Dato
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Chairman’sStatementHIGH GROWTH MA
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President& GCEO’SBusinessReviewDA
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President &GCEO’S Business Review
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Axiata Group Berhad (242188-H) Annu
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Five-yeargroup financial summaryOPE
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Awards andRecognitionIndonesia Serv
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Page 137 and 138: Axiata Group Berhad (242188-H) Annu
Page 162 and 163: DIRECTORS’RESPONSIBILITY STATEMEN
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Page 166 and 167: DIRECTORS’REPORTDIRECTORS’ INTE
Page 168 and 169: DIRECTORS’REPORTSTATUTORY INFORMA
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Page 172 and 173: STATEMENTS OFFINANCIAL POSITIONAS A
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Page 176 and 177: STATEMENTS OFCASH FLOWSFOR THE FINA
Page 178 and 179: NOTES TO THEFINANCIAL STATEMENTSFOR
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NOTES TO THEFINANCIAL STATEMENTSFOR
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STATEMENTBY DIRECTORSPURSUANT TO SE
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INDEPENDENTAUDITORS’ REPORTTO THE
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GroupFinancial Analysiscatering for
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SHAREHOLDINGSTATISTICSAS AT 29 MARC
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SHAREHOLDINGSTATISTICSAS AT 29 MARC
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ADDITIONAL COMPLIANCEINFORMATION3.
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Net Book Value ofLand & BuildingsFo
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GROUPDIRECTORYAxiata Group BerhadAx
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GLOSSARYShare Scheme CommitteeEmplo
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NOTICE OFANNUAL GENERAL MEETINGNOTI
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NOTICE OFANNUAL GENERAL MEETING10.
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EXPLANATORY NOTES TO THE SPECIAL BU
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ADMINISTRATIVE DETAILS FOR THE21ST
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2. FOLD THIS FLAP TO SEALAFFIX STAM
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