Content2011 - PETRONAS Gas Berhad

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Notes to the Financial Statements 31 MarCh 2011 34. Comparative Figures (Continued) 190 petronas gas berhad (101671-h) Amendment to FRS 117, Leases (Continued) On adoption of Amendment to FRS 117, lease of a leasehold land which is in substance a finance lease has been reclassified to property, plant and equipment and measured as such retrospectively as follows: Statement of Statement of Effect on Financial Financial adoption of Position as at Position as at Amendment to 31.03.2010 31.03.2010 FRS 117 (restated) RM’000 RM’000 RM’000 Group Property, plant and equipment 6,461,614 446,594 6,908,208 Prepaid lease payments 446,594 (446,594) – Company Property, plant and equipment 6,440,668 446,594 6,887,262 Prepaid lease payments 446,594 (446,594) – 35. Change of Financial Year End The Group and the Company will change their financial year end from 31 March to 31 December which will be effective after the close of financial year ended 31 March 2011. Accordingly, the financial statements of the Group and the Company for the financial period ended 31 December 2011 will cover a 9-month period. Thereafter, the Group and the Company will revert to a 12 months reporting period from 1 January to 31 December. 36. New and Revised Pronouncements Yet in Effect The following new and revised FRSs, Statement of Interpretations and amendments to FRS and Statement of Interpretations (collectively referred to as “pronouncements”) from the Malaysian Accounting Standards Board will become effective for future financial reporting periods and have not yet been adopted by the Group. Effective for annual periods beginning on or after 1 July 2010 FRS 1 First-time Adoption of Financial Reporting Standards (revised) FRS 3 Business Combinations (revised) FRS 127 Consolidated and Separate Financial Statements (revised) Amendments to IC 9 Reassessment of Embedded Derivatives IC Interpretation 12 Service Concession Agreements Effective for annual periods beginning on or after 1 January 2011 Amendment to FRS 1 First-time Adoption of Financial Reporting Standard – Limited Exemption from Comparative FRS 7 Disclosures for First-time Adopters and Additional Exemptions for First Time Adopters Amendment to FRS 1 First-time Adoption of Financial Reporting Standard [Improvements to FRSs (2010)] Amendments to FRS 3 Business Combinations [Improvements to FRSs (2010)] Amendments to FRS 7 Financial Instruments: Disclosures - Improving Disclosures about Financial Instruments Amendments to FRS 7 Financial Instruments: Disclosures [Improvements to FRSs (2010)] Amendments to FRS 101 Presentation of Financial Statements [Improvements to FRSs (2010)] Amendments to FRS 121 The Effects of changes in Foreign Exchange Rates [Improvements to FRSs (2010)] Amendments to FRS 128 Investment in Associates [Improvements to FRSs (2010)] Amendments to FRS 131 Interests in Joint Ventures [Improvements to FRSs (2010)]
Notes to the Financial Statements 31 MarCh 2011 36. New and Revised Pronouncements Yet in Effect (Continued) Effective for annual periods beginning on or after 1 January 2011 (Continued) Amendments to FRS 132 Financial Instruments: Presentation [Improvements to FRSs (2010)] Amendments to FRS 134 Interim Financial Reporting [Improvements to FRSs (2010)] Amendments to FRS 139 Financial Instruments: Recognition and Measurement IC Interpretation 4 Determining Whether an Arrangement contains a Lease Effective for annual periods beginning on or after 1 January 2012 FRS 124 Related Party Disclosures (revised) 191 annUaL report 2011 Initial application of these pronouncements for the Group and the Company will be effective from the annual period beginning: i) 1 April 2011 for pronouncements which are effective for annual periods beginning on or after 1 July 2010 and 1 January 2011. ii) 1 January 2012 for pronouncements which are effective for annual periods beginning on or after 1 January 2012. By virtue of the exemptions in paragraph 30AA of IC 12, the impacts of applying IC 12 on the fi nancial statements upon fi rst adoption of this standard as required by para 30(b) of FRS 108: Accounting Policies, Changes in Accounting Estimates and Errors is not disclosed. The adoption of other FRSs, Statement of Interpretations and amendments to FRSs and Statement of Interpretations other than IC 4, are not expected to have any material impact on the fi nancial statements of the Group and of the Company in the period of initial application. 37. New Pronouncements Not Applicable to the Group and the Company The MASB has issued FRSs, Interpretations and Amendments to FRSs and Interpretations which are not yet effective, but for which are not relevant to the operations of the Group and the Company and hence, no further disclosure is warranted. Effective for annual periods beginning on or after 1 July 2010 Amendments to FRS 2 Share Based Payment Amendments to FRS 5 Non-current Assets Held for Sale and Discontinued Operations Amendments to FRS 138 Intangible Assets IC Interpretation 16 Hedges of a Net investment in a Foreign Operation IC Interpretation 17 Distribution of Non-cash Assets to Owner Effective for annual periods beginning on or after 30 August 2010 Amendments to IC 15 Agreements for the Construction of Real Estate Effective for annual periods beginning on or after 1 January 2011 Amendments to FRS 2 Share Based Payment - Group Cash-settled Share-based Payment Transactions IC Interpretation 18 Transfers of Assets from Customers Amendments to IC 13 Customer Loyalty Programmes [Improvements to FRSs (2010)] Effective for annual periods beginning on or after 1 July 2011 Amendments to IC 14 Prepayments of a Minimum Funding Requirement IC Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments Effective for annual periods beginning on or after 1 January 2012 IC Interpretation 15 Agreements for the Construction of Real Estate
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ANNUAL REPORT 2011 In 2011, PGB is
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Our Vision, Mission and Shared Valu
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Our Vision A World Class Gas and Ut
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The Sabah-Sarawak Gas Pipeline (SSG
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2,982.3 2007 1,281.2 1,247.0 2007 9
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Corporate Information Our Operation
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Gas Processing Plant Operations Div
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Miri Pipeline System Network Bintul
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Corporate and Management Directory
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Dato’ N. Sadasivan s/o N.N. Pilla
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Samsudin bin Miskon, a Malaysian ag
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Muri bin Muhammad, a Malaysian aged
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Lau Nai Tuang, a Malaysian aged 53,
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Farehana binti Hanapiah, a Malaysia
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Karima binti M Noor General Manager
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Karima binti Mohd Noor General Mana
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Muhamed Ali bin Hashim Mohamed Mana
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Ahmad Nawawi bin Mohd Yatim General
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Liza binti Mustapha Liza, aged 40,
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Performance Review Q&A with the Cha
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39 annual report 2011 The Board of
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41 annual report 2011 PGB’s entry
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43 annual report 2011 The company i
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Clear and precise communication bet
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47 annual report 2011 The Company c
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49 annUaL report 2011 CEO’s Busin
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GATEWAY TO THE NEXT HORIZON Unlocki
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mainly attributable to the enhanced
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KIMANIS POWER PLANT Power Play - Fl
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We can have the best equipment, the
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monumental success in spite of them
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Due to PGB’s extensive experience
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Apart from the Chairmanship, the ye
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Comparison between 3 rd Term GPTA a
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stAtements of ComPrehensive inCome
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Earnings Per Share and Net Dividend
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Performance of Shares For the Year
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Drive + Innovation + Technology = P
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75 annual report 2011
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Awards and Achievements With collec
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79 annUaL report 2011 Corporate Res
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Sustainability - The PGB Way As a r
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PGB continues to invest for the fut
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Engagement with international and d
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This includes the annual ACD assess
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The Company’s training programmes
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The regular monitoring sessions are
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KEEPING SAFE, KEEPING HEALTHY PGB c
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The Company continuously manages he
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The green initiative used pilot 3R
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AWARDS AND RECOGNITIONS RECEIVED To
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Apart from these, the students were
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A total of 65 CSR activities were c
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C D 16 MAy 2010 Signing Ceremony fo
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H 6 SepteMber 2010 A CSR programme
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M N O 12 JANuAry 2011 To test the C
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111 annual report 2011 Corporate Go
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As at the date of this report, the
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. Supply of and Access to Informati
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Fees for certain directors appointe
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ACCOuntAbIlIty And AudIt 1. Financi
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Risk management is fi rmly embedded
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Health, Safety and Environment (HSE
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• The Company’s organisational
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terMS Of referenCe The BAC is gover
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129 annual report 2011 Board Audit
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Statement of Directors’ Responsib
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Financial Statements 133 annUaL rep
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Directors’ Report For the Year en
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Directors’ Report For the Year en
Page 141 and 142: Statements of Financial Position at
Page 143 and 144: Statement of Changes in Equity For
Page 145 and 146: Notes to the Financial Statements 3
Page 191: Notes to the Financial Statements 3
Page 195 and 196: Report of the Auditors to the MeMbe
Page 197 and 198: Other Information 195 annUaL report
Page 199 and 200: 197 annUaL report 2011 A summary of
Page 205 and 206: Training Programmes Attended by Dir
Page 207 and 208: Analysis of Shareholdings as at 31
Page 209 and 210: Analysis of Shareholdings as at 31
Page 211 and 212: Corporate Directory PETRONAS Gas Be
Page 213: Notice of Annual General Meeting No
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Content2011 - PETRONAS Gas Berhad

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