Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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1. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) (p) Financial Instruments (Cont’d) NOTES TO THE FINANCIAL STATEMENTS (Cont’d) The recognised financial instruments comprise cash and cash equivalents, fixed deposits, trade and other receivables, trade and other payables, other non-current investments, bank borrowings and ordinary shares. These instruments are recognised in the financial statements when a contract or contractual arrangement has been entered into with the counter-parties. The unrecognised financial instruments comprise financial guarantees given to financial institutions and third party suppliers for subsidiary companies’ banking and credit facilities. The financial guarantees would be recognised as liabilities when obligations to pay the counter-parties are assessed as being probable. (i) Cash on Deposits and Receivables Cash on deposits with licensed financial institutions are stated at cost. Receivables are stated at cost less allowance for doubtful debts, if any, which are the anticipated realisable values. Known bad debts are written off and specific allowance is made for those debts considered to be doubtful of collection. In addition, general allowances are made to cover possible losses which are not specifically identified. (ii) Payables Payables are stated at cost which are the fair values of the considerations to be paid in the future for goods and services received. (iii) Other Investments Current and non-current investments other than investments in subsidiary companies and associated companies are stated at cost less allowance for diminution in value, if any. Short term investment is stated at lower of cost or market value less allowance for diminution in value, if any. On disposal of an investment, the difference between net disposal proceeds and its carrying amount is charged or credited to the income statement. (iv) Interest Bearing Borrowings The interest bearing borrowings include bank overdrafts, revolving credit, bills payable, term loans and hire purchase payables are stated at the amount of proceeds received, net of transaction costs. (v) Equity Instruments Ordinary shares are classified as equity. Dividends on ordinary shares are recognised in equity in the period in which they are declared. The transaction costs of an equity transaction, other than in the context of a business combination, are accounted for as a deduction from equity, net of tax. Equity transaction costs comprise only those external costs directly attributable to the equity transaction which would otherwise have been avoided. Cost of issuing equity securities in connection with a business combination are included in the cost of acquisition. (q) Capitalisation of Borrowing Costs Borrowing costs in respect of expenditure incurred on acquisition of property, plant and equipment is capitalised during the period when activities to plan, develop and construct these assets are undertaken. Capitalisation of borrowing costs ceases when the property, plant and equipment are ready for their intended use. Amtel Holdings Berhad 2003 annual report 41
42 NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 2. PROPERTY, PLANT AND EQUIPMENT PLANT & RENOVATION, FURNITURE, FIXTURE, FITTINGS, MACHINERY, OFFICE FACTORY EQUIPMENT & FREEHOLD LEASEHOLD APARTMENT EQUIPMENT ELECTRICAL MOTOR GROUP LAND LAND & BUILDINGS & TOOLS INSTALLATION VEHICLES TOTAL RM RM RM RM RM RM RM COST At 1.12.02 15,231,364 1,238,797 2,509,956 3,999,376 2,987,584 3,909,186 29,876,263 Additions 996,297 - 241,238 744,290 281,515 806,669 3,070,009 Disposals - - - - (15,680) (1,073,008) (1,088,688) Written off - - - - (150,456) - (150,456) At 30.11.03 16,227,661 1,238,797 2,751,194 4,743,666 3,102,963 3,642,847 31,707,128 ACCUMULATED DEPRECIATION At 1.12.02 - 71,274 172,464 2,647,561 2,486,675 2,689,380 8,067,354 Charge for the year - 23,560 48,425 273,543 300,659 496,999 1,143,186 Disposals - - - - (15,678) (1,043,488) (1,059,166) Written off - - - - (146,610) - (146,610) At 30.11.03 - 94,834 220,889 2,921,104 2,625,046 2,142,891 8,004,764 NET BOOK VALUE At 30.11.03 16,227,661 1,143,963 2,530,305 1,822,562 477,917 1,499,956 23,702,364 At 30.11.02 15,231,364 1,167,523 2,337,492 1,351,815 500,909 1,219,806 21,808,909 Depreciation charge for the year ended 30.11.02 - 9,238 27,716 194,737 453,762 531,418 1,216,871 FURNITURE, FIXTURE, FITTINGS & OFFICE MOTOR COMPANY EQUIPMENT VEHICLES RENOVATION TOTAL RM RM RM RM COST At 1.12.02 330,897 391,583 49,425 771,905 Additions 18,639 618,171 - 636,810 Disposal - (93,000) - (93,000) Written off (10,690) - - (10,690) At 30.11.03 338,846 916,754 49,425 1,305,025 Amtel Holdings Berhad 2003 annual report
Page 1 and 2: 2003 Annual Report Amtel Holdings B
Page 3 and 4: 2 Notice of the Seventh Annual Gene
Page 5 and 6: 4 Statement Accompanying Notice of
Page 7 and 8: 6 Profile of Directors Amtel Holdin
Page 9 and 10: 8 Amtel Holdings Berhad 2003 annual
Page 11 and 12: 10 Amtel Holdings Berhad 2003 annua
Page 17 and 18: 16 Chairman’s Statement It gives
Page 23 and 24: 22 Statement of Internal Control Am
Page 27 and 28: 26 DIRECTORS’ REPORT The Director
Page 29 and 30: 28 DIRECTORS OF THE COMPANY (CONT
Page 31 and 32: 30 REPORT OF THE AUDITORS to the me
Page 33 and 34: 32 BALANCE SHEETS (Cont’d) GROUP
Page 35 and 36: 34 STATEMENTS OF CHANGES IN EQUITY
Page 37 and 38: 36 CASH FLOW STATEMENTS (Cont’d)
Page 39 and 40: 38 NOTES TO THE FINANCIAL STATEMENT
Page 41: 40 NOTES TO THE FINANCIAL STATEMENT
Page 75 and 76: 74 LIST OF PROPERTIES (Cont’d) Ap
Page 77 and 78: 76 LIST OF PROPERTIES (Cont’d) Ap
Page 79 and 80: 78 ANALYSIS OF SHAREHOLDINGS as at
Page 81 and 82: 80 ANALYSIS OF SHAREHOLDINGS (Cont
Page 83 and 84: Then fold here First fold here Amte

Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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