Content2011 - PETRONAS Gas Berhad

Notes to the Financial Statements
31 MarCh 2011
26. Earnings per Share
173 annUaL report 2011
Basic earnings per share
The earnings per share (EPS) is derived based on the net profi t attributable to ordinary shareholders of RM1,439,251,000 (2010 -
RM940,896,000) and on the number of ordinary shares outstanding during the year of 1,978,732,000 (2010 - 1,978,732,000).
Diluted earnings per share
The Company has not issued any dilutive potential ordinary shares, hence, the diluted EPS is the same as the basic EPS.
27. Changes in Accounting Policies
As of 1 April 2010, the Group and the Company had adopted new and revised FRS and Amendment to FRS issued by MASB as disclosed
in Note 1.1.
The principal changes in accounting policies and their effects resulting from the above are as follows:
i) FRS 8, Operating Segments
The adoption of FRS 8 has resulted in a change in accounting policy relating to presentation of result of operating segments.
FRS 8, which replaces FRS 114 Segment Reporting, requires the Group to determine and present operating segments based on the
2004
information that is internally provided to the Group’s Chief Operating Decision Maker for the purpose of allocating resources to the
segments and assessing their performance. It also sets out the required disclosures for operating segments.
The adoption of FRS 8 has no effect on the Group’s reported income or net assets, other than extended disclosures on operating
segment results.
ii) FRS 101, Presentation of Financial Statements (Revised)
The adoption of revised FRS 101 has resulted in a change in accounting policy relating to presentation of fi nancial statements.
Following the adoption of revised FRS 101, the Group presents all non-owner changes in equity in the consolidated statements of
comprehensive income.
The adoption of revised FRS 101 has no effect on the Group’s reported income or net assets, other than certain extended disclosures.
Comparative information has been re-presented so that it is in conformity with the revised standard.
iii) Amendment to FRS 117, Leases
The adoption of Amendment to FRS 117 has resulted in a change in the accounting policy relating to the classifi cation of leases of land.
Prior to the adoption of Amendment to FRS 117, the Group had classifi ed leasehold land that normally has an indefi nite economic
life and title is not expected to pass to the lessee by the end of the lease term as an operating lease. The payment made on entering
into or acquiring a leasehold land is accounted for as prepaid lease payments and amortised over the lease term in accordance with
the pattern of benefi ts provided.
On adoption of Amendment to FRS 117, leases of a leasehold land which in substance is a fi nance lease has been reclassifi ed to
property, plant and equipment. The effects of adopting Amendment to FRS 117 had been accounted for retrospectively in accordance
with transitional provisions of the standard, and comparatives have been restated (Note 34).
This change in accounting policy does not have material impact on current year profi t or loss.