Content2011 - PETRONAS Gas Berhad

Notes to the Financial Statements
31 MarCh 2011
143 annUaL report 2011
PETRONAS GAS BERHAD is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Board of the Bursa
Malaysia Securities Berhad. The address of its registered offi ce and principal place of business is:
Registered offi ce and principal place of business
Tower 1, PETRONAS Twin Towers
Kuala Lumpur City Centre
50088 Kuala Lumpur
The Company is principally engaged in separating natural gas into its components and storing, transporting and distributing such components
thereof for a fee and the sale of industrial utilities. The principal activities of its subsidiary, associate and jointly controlled entity are stated in Note
5, Note 6 and Note 7 to the fi nancial statements respectively.
The holding company as well as the ultimate holding company during the fi nancial year is Petroliam Nasional Berhad (PETRONAS), a company
incorporated in Malaysia.
The consolidated fi nancial statements as at and for the fi nancial year ended 31 March 2011 comprise the Company and its subsidiary, and the
Group’s interest in an associate and a jointly controlled entity.
1. Basis of Preparation
1.1 Statement of compliance
The fi nancial statements of the Group and of the Company have been prepared in accordance with Financial Reporting Standards
(FRSs), generally accepted accounting principles and the Companies Act, 1965 in Malaysia. These fi nancial statements also comply
with the applicable disclosure provisions of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
As of 1 April 2010, the Group and the Company have adopted the following FRSs and Statement of Interpretation which are effective
for annual periods beginning on or after 1 January 2010, unless otherwise stated.
i) FRS 8, Operating Segments (effective for annual periods beginning on or after 1 July 2009);
ii) FRS 101, Presentation of Financial Statements (revised);
iii) Amendments to FRS 1, First-time Adoption of Financial Reporting Standards and FRS 127, Consolidated and Separate Financial
Statements: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate;
iv) Amendment to FRS 8, Operating Segments;
v) Amendment to FRS 107, Statement of Cash Flows;
vi) Amendment to FRS 108, Accounting Policies, Changes in Accounting Estimates and Errors;
vii) Amendment to FRS 110, Events After the Reporting Period;
viii) Amendment to FRS 116, Property, Plant and Equipment;
ix) Amendment to FRS 117, Leases;
x) Amendment to FRS 118, Revenue;
xi) Amendment to FRS 119, Employee Benefi ts;
xii) Amendment to FRS 127, Consolidated and Separate Financial Statements;
xiii) Amendment to FRS 128, Investments in Associates;
xiv) Amendment to FRS 131, Interests in Joint Ventures;