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)(u) Employee benefits (continued)(v) Post-employment benefit obligations (continued)The defined benefit obligation is calculated annually by independent actuaries using projected unitcredit method. The present value of the defined benefit obligation is determined by discounting theestimated future cash flows using interest rates of high-quality corporate bonds that are denominatedin the currency in which the benefits will be paid, and that have terms to maturity approximately tothe terms of related pension obligation. In countries where there is no deep market in such bonds, themarket rates on government bonds are used.Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptionsare charged or credited to equity in other comprehensive income in the period in which they arise.Past-service costs are recognised immediately in income, unless the changes to the pension plan areconditional on the employees remaining in service for a specified period of time (the vesting period).In this case, the past-service costs are amortised on a straight-line basis over the vesting period.(v) Deferred revenueDeferred revenue comprises:(i)The unutilised balance of airtime and access fee in respect of prepaid cards sold to customers. Suchrevenue amounts are recognised as revenue upon utilisation of airtime and activation of access rightby the customer.(ii) The value of advance billings made to customers in respect of the rental of fibre optic network. Suchamounts are recognised as revenue systematically over the period covered by the advance billings.(w) Indefeasible right of use (“IRU”)The Group has entered into certain IRU agreements with its customers. An IRU is a right to use a specifiedamount of capacity for a specific time period that cannot be revoked or voided. Such agreements areaccounted for either as lease or service transactions.Those IRU agreements that provide the lessee with exclusive right to the purchased capacity and limit thepurchased capacity to a specified fibre are accounted as lease transactions. Other IRUs are accounted foras service contracts.IRU agreements that transfer substantially all the risks and rewards of ownership to the lessee are classifiedas sale-type leases. All other IRU leases are classified as operating leases.(x) Foreign currencies(i)Functional and presentation currencyItems included in the financial statements of each of the Group’s entities are measured using thecurrency of the primary economic environment in which the entity operates. The consolidated financialstatements are presented in RM, which is the Company’s functional and presentation currency.198
Axiata Group Berhad (242188-H) Annual Report 20123. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)(x) Foreign currencies (continued)(ii) Transactions and balancesForeign currency transactions are translated into the functional currency using the exchange ratesprevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchangegains and losses resulting from the settlement of such transactions and from the translation at year-endexchange rates of monetary assets and liabilities (inclusive of advances to subsidiaries treated as quasiinvestments)denominated in foreign currencies are recognised in the net profit for the financial year,except when deferred in other comprehensive income as qualifying cash flow hedges and qualifyingnet investment hedges.Foreign exchange gains and losses that relate to borrowings are presented in the profit or loss within‘finance income or cost’. All other foreign exchange gains and losses are presented in profit or losswithin ‘foreign exchange gains/(losses).Changes in the fair value of monetary securities denominated in foreign currency classified as AFS areanalysed between translation differences resulting from changes in the amortised cost of the securityand other changes in the carrying amount of the security. Translation differences related to changes inamortised cost are recognised in the profit or loss for the financial year, and other changes in carryingamount are recognised in other comprehensive income.(iii) Group companies (Consolidated financial statements)The results and financial position of all the Group entities (none of which has the currency of ahyperinflationary economy) that have a functional currency different from the presentation currencyare translated into the presentation currency as follows:• assets and liabilities for each statement of financial position presented are translated at the closingrate at the date of that statements of financial position;• income and expenses for each statements of comprehensive income are translated at averageexchange rates (unless this average is not a reasonable approximation of the cumulative effect ofthe rates prevailing on the transaction dates, in which case income and expenses are translated atthe rate on the dates of the transactions); and• all resulting exchange differences are recognised as a separate component of other comprehensiveincome.Goodwill and fair value adjustments arising on the acquisitions of a foreign entity are treated as assetsand liabilities of the foreign entity and translated at the closing rate. Exchange differences arising arerecognised in other comprehensive income.On consolidation, exchange differences arising from the translation of the net investment in foreignoperations are taken to other comprehensive income. When a foreign operation is partially disposed ofor sold, exchange differences that were recorded in equity are recognised in the profit or loss as partof the gain or loss on sale.199
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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 149 and 150: Axiata Group Berhad (242188-H) Annu
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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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