Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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116 Notes to the Financial Statements For the fi nancial year ended 31 December 2011 13. Property, plant and equipment (contd.) Long term leasehold land of the Group have not been revalued since they were fi rst revalued in 1996. The directors have not adopted a policy of regular revaluations of such assets and no later revaluation has been recorded. As permitted under the transitional provisions of IAS 16 (Revised): Property, Plant and Equipment, these assets continue to be stated at their 1996 valuation less accumulated depreciation. The above transitional provisions are available only on the fi rst application of the MASB Approved Accounting Standards IAS 16 (Revised): Property, Plant and Equipment which is effective for periods ended on or after 1 September 1998. By virtue of this transitional provision, an entity that had recorded its property, plant and equipment at revalued amounts but had not adopted a policy of revaluation has been allowed to continue carrying those assets on the basis of their previous revaluations subject to continuity in its depreciation policy and the requirement to write down the assets to their recoverable amounts for impairment adjustments. The transitional provisions will remain in force until and unless the entity chooses to adopt a revaluation policy in place of a cost policy. When that happens, FRS 116 (which supersedes IAS 16) would require revaluations to be carried out at regular intervals. Assets under construction The Group’s plant and equipment included RM41,432,179 (2010: RM13,452,344) which relate to expenditure for plants in the course of construction. Capitalisation of borrowing costs The Group’s plant and equipment include borrowing costs arising from bank loans borrowed specifi cally for the purpose of the construction of plant. During the fi nancial year, the borrowing costs capitalised as cost of plant and equipment amounted to RM327,055 (2010: RM260,200) as disclosed in Note 7. Assets held under fi nance leases The carrying amount of plant and equipment held under fi nance leases at the reporting date was RM91,437 (2010: RM745,707). Details of the fi nance leases are disclosed in Note 29. Fully depreciated assets The gross carrying amounts of fully depreciated property, plant and equipment that are still in use at the reporting date were RM115,047,424 (2010: RM99,879,111) and RM3,843,079 (2010: RM3,605,989) for the Group and Company, respectively. Cahya Mata Sarawak Berhad
14. Prepaid land lease payments Cost: Notes to the Financial Statements For the fi nancial year ended 31 December 2011 Group Company 2011 2010 2011 2010 RM’000 RM’000 RM’000 RM’000 At 1 January As previously stated 23,578 47,580 11,925 425 Effects of adopting the amendments of FRS117 - (35,502 ) - - As restated 23,578 12,078 11,925 425 Additions Transferred to property, plant and - 11,500 - 11,500 equipment (Note 13) (20 ) - - - At 31 December 23,558 23,578 11,925 11,925 Accumulated amortisation: At 1 January As previously stated 4,343 10,080 83 4 Effects of adopting the amendments of FRS117 - (6,117 ) - - As restated 4,343 3,963 83 4 Amortisation for the year (Note 8) 726 380 426 79 Transferred to property, plant and equipment (Note 13) (18 ) - - - At 31 December 5,051 4,343 509 83 Net carrying amount 18,507 19,235 11,416 11,842 Amount to be amortised: - Not later than one year 725 726 426 426 - Later than one year but not later than fi ve years 2,901 2,477 1,278 1,278 - Later than fi ve years 14,881 16,032 9,712 10,138 The Group and the Company have prepaid land leases over state-owned land in Malaysia. The prepaid land leases of the Group and the Company have a remaining tenure of 1 to 45 years (2010: 1 to 46 years) and 27 to 45 years (2010: 28 to 46 years), respectively. Annual Report 2011 117
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Playing Our Role In Nation-building
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CONTENTS 2 3 4 8 13 14 15 20 Perfor
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Revenue (RM’000) Profi t before t
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“ Dear Shareholders, Group Chairm
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Whilst the opportunities for the Gr
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10 Mar 4 May 19 May 26 May 27 Jun 2
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24 Feb 1 Jul 19 Oct 30 Nov 24 Feb 1
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Board of Directors Tan Sri Dato’
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Y Bhg Dato’ Richard Alexander Joh
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Y Bhg Datu Michael Ting Kuok Ngie M
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DAVID LING KOAH WI Group General Co
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Segmental Analysis Segment Revenue
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Clinker CMS Cement owns East Malays
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Quarrying CMS Quarries Sdn Bhd and
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Construction & Road Maintenance The
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The Isthmus Property Development Th
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Education CMS Education Sdn Bhd own
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Strategic Investment: K&N Kenanga H
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CORPORATE RESPONSIBILITY
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Engagement & Communication Performa
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CMS Concrete Products Clay bricks m
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CMS Employees Volunteer in ‘Doing
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CSR Highlights Saving Lives Health
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Statement of Corporate Governance T
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Employees’ Share Option Scheme (
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Prior to each Board meeting, the Di
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Statement of Corporate Governance T
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Communicating with Shareholders and
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Responsibility The Board recognises
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Composition The Group Audit Committ
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Authority i. The Committee is autho
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Utilisation of Proceeds raised from
Page 67 and 68: FINANCIALS
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Page 71 and 72: Issue of Shares During the fi nanci
Page 73 and 74: Statement by Directors Pursuant to
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Page 77 and 78: ASSETS Group Company Note 2011 2010
Page 79 and 80: Statements of Changes In Equity For
Page 81 and 82: Statements of Cash Flows For the fi
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Page 85 and 86: Notes to the Financial Statements F
Page 107 and 108: 5. Interest income Notes to the Fin
Page 109 and 110: 8. Profi t before tax Notes to the
Page 111 and 112: 10. Directors’ remuneration (cont
Page 113 and 114: 12. Earnings per share (a) Basic ea
Page 115 and 116: 13. Property, plant and equipment (
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Page 123 and 124: 18. Goodwill Notes to the Financial
Page 129 and 130: 19. Investments in subsidiaries (co
Page 131 and 132: 20. Investments in associates (cont
Page 135 and 136: 22. Deferred tax (contd.) Notes to
Page 137 and 138: 24. Trade and other receivables (co
Page 139 and 140: 25. Other current assets Notes to t
Page 141 and 142: 28. Cash and bank balances (contd.)
Page 143 and 144: 30. CMS Income Securities (contd.)
Page 145 and 146: 30. CMS Income Securities (contd.)
Page 147 and 148: 32. Trade and other payables Notes
Page 151 and 152: 36. Other reserves (contd.) Company
Page 153 and 154: 38. Employee benefi ts (contd.) Not
Page 155 and 156: 39. Commitments (contd.) Notes to t
Page 157 and 158: 40. Contingencies (contd.) (b) Othe
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46. Dividends Notes to the Financia
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OTHER INFORMATION
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Name of Direct Indirect % of Substa
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List of Properties As at 31 Decembe
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** Land owned by third party Revalu
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Construction & Road Maintenance CMS
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1. To receive the Audited Financial
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Names of Directors who are standing
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Form of Proxy No. of Shares Held: C
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CAHYA MATA SARAWAK BERHAD (Company
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Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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