FORGING AHEAD - Tradewinds Plantation Berhad

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132 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2010 5. ADOPTION OF NEW FRSs AND AMENDMENTS TO FRSs (continued) 5.1 New FRSs adopted during the current financial year (continued) (d) FRS 123 Borrowing Costs and the consequential amendments resulting from FRS 123 are mandatory for annual periods beginning on or after 1 January 2010. This Standard removes the option of immediately recognising as an expense borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset. However, capitalisation of borrowing costs is not required for assets measured at fair value, and inventories that are manufactured or produced in large quantities on a repetitive basis, even if they take a substantial period of time to get ready for use or sale. There is no impact upon adoption of this Standard during the financial year. (e) FRS 139 Financial Instruments: Recognition and Measurement and the consequential amendments resulting from FRS 139 are mandatory for annual financial periods beginning on or after 1 January 2010. This Standard establishes the principles for the recognition and measurement of financial assets and financial liabilities including circumstances under which hedge accounting is permitted. The impact upon adoption of this Standard is disclosed in Note 44 to the financial statements. (f) Amendments to FRS 2 Share-based Payment: Vesting Conditions and Cancellations are mandatory for annual financial periods beginning on or after 1 January 2010. These amendments clarify that vesting conditions comprise service conditions and performance conditions only. Cancellations by parties other than the Group are accounted for in the same manner as cancellations by the Group itself and features of a share-based payment that are non-vesting conditions are included in the grant date fair value of the share-based payment. There is no impact upon adoption of these amendments during the financial year. (g) 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 is mandatory for annual periods beginning on or after 1 January 2010. These amendments allow first-time adopters to use a deemed cost of either fair value or the carrying amount under previous accounting practice to measure the initial cost of investments in subsidiaries, jointly controlled entities and associates in the separate financial statements. The cost method of accounting for an investment has also been removed pursuant to these amendments. There is no impact upon adoption of these amendments during the financial year. TRADEWINDS PLANTATION BERHAD Annual Report 2010
5. ADOPTION OF NEW FRSs AND AMENDMENTS TO FRSs (continued) 5.1 New FRSs adopted during the current financial year (continued) (h) IC Interpretation 9 Reassessment of Embedded Derivatives is mandatory for annual financial periods beginning on or after 1 January 2010. This Interpretation prohibits the subsequent reassessment of embedded derivatives unless there is a change in the terms of the host contract that significantly modifies the cash flows that would otherwise be required by the host contract. There is no impact upon adoption of this Interpretation during the financial year. (i) IC Interpretation 10 Interim Financial Reporting and Impairment is mandatory for annual financial periods beginning on or after 1 January 2010. This Interpretation prohibits the reversal of an impairment loss recognised in a previous interim period in respect of goodwill or an investment in either an equity instrument or a financial asset carried at cost. There is no impact upon adoption of this Interpretation during the financial year. (j) IC Interpretation 11 FRS 2 – Group and Treasury Share Transactions is mandatory for annual periods beginning on or after 1 January 2010. This Interpretation requires share-based payment transactions in which the Company receives services from employees as consideration for its own equity instruments to be accounted for as equity-settled, regardless of the manner of satisfying the obligations to the employees. If the Company grants rights to its equity instruments to the employees of its subsidiaries, this Interpretation requires the Company to recognise the equity reserve for the obligation to deliver the equity instruments when needed whilst the subsidiaries shall recognise the remuneration expense for the services received from employees. If the subsidiaries grant rights to equity instruments of the Company to its employees, this Interpretation requires the Company to account for the transaction as cash-settled, regardless of the manner the subsidiaries obtain the equity instruments to satisfy its obligations. There is no impact upon adoption of this Interpretation during the financial year. FINANCIAL STATEMENTS The Group would like to draw attention to the withdrawal of this Interpretation for annual periods beginning on or after 1 January 2011 as disclosed in Note 5.2(l) to the financial statements. TRADEWINDS PLANTATION BERHAD Annual Report 2010 133
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Level 9, Menara HLA No. 3, Jalan Ki
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CORPORATE GOVERNANCE 56 Statement o
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4 STATUTORY REPORTING NOTICE OF ANN
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NOTICE OF ANNUAL GENERAL MEETING AN
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8 STATUTORY REPORTING STATEMENT ACC
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GROUP FINANCIAL HIGHLIGHTS 2010 200
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STRATEGIC INVESTMENTS We will remai
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16 CORPORATE INFORMATION FINANCIAL
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18 CORPORATE INFORMATION CORPORATE
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20 CORPORATE INFORMATION BOARD OF D
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26 CORPORATE INFORMATION TRADEWINDS
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28 CORPORATE INFORMATION MANAGEMENT
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30 CORPORATE INFORMATION GROUP CORP
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STRATEGIC DIVERSIFICATIONS Through
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36 PERFORMANCE REVIEW CHAIRMAN’S
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44 PERFORMANCE REVIEW BuSINESS REvI
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BuSINESS REvIEW By CHIEF EXECuTIvE
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STRATEGIC EXPERTISE As our sights a
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56 CORPORATE GOVERNANCE STATEMENT O
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DIRECTORS’ REMUNERATION The remun
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68 CORPORATE GOVERNANCE AUDIT COMMI
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AUTHORITY The Audit Committee shall
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72 CORPORATE GOVERNANCE ADDITIONAL
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74 CORPORATE GOVERNANCE ADDITIONAL
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STRATEGIC INNOVATIONS We are commit
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80 CORPORATE SOCIAL RESPONSIBILITY
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Page 101 and 102: REPORT ON OTHER LEGAL AND REGULATOR
Page 103 and 104: LIABILITIES Non-current liabilities
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Page 107 and 108: Equity Share Share component Retain
Page 109 and 110: CASH FLOWS FROM INVESTING ACTIVITIE
Page 111 and 112: NOTES TO THE FINANCIAL STATEMENTS 3
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Page 161 and 162: 9. INVESTMENTS IN SUBSIDIARIES (con
Page 167 and 168: 11. INVESTMENT IN A JOINTLY CONTROL
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Page 171 and 172: 15. TRADE AND OTHER RECEIVABLES FIN
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Page 175 and 176: 17. NON-CURRENT ASSETS HELD FOR SAL
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Page 179 and 180: 21. BORROWINGS Current liabilities
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26. DEFERRED TAX (continued) Recogn
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27. TRADE AND OTHER PAYABLES Trade
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28. REVENUE Group Company 2010 2009
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30. PROFIT BEFORE TAX (continued) A
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32. EARNINGS PER ORDINARY SHARE ATT
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34. ACQUISITION OF SUBSIDIARIES 201
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34. ACQUISITION OF SUBSIDIARIES (co
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35. OPERATING SEGMENTS (continued)
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35. OPERATING SEGMENTS (continued)
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36. FINANCIAL INSTRUMENTS (continue
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36. FINANCIAL INSTRUMENTS (continue
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37. FINANCIAL RISk MANAGEMENT OBJEC
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38. RELATED PARTY DISCLOSURES (cont
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38. RELATED PARTY DISCLOSURES (cont
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42. SIGNIFICANT EVENTS SUBSEQUENT T
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44. OPENING STATEMENT OF FINANCIAL
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PLANTATION REvIEW OIL PALM 2010 200
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mATERIAL PROPERTIES Of TRADEWINDS P
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Company/ Location/Address HS(D) 389
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Company/ Location/Address Country L
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Company/ Location/Address Lot No. 0
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ANALySIS Of SHAREHOLDINgS AS AT 25
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LIST OF THIRTY (30) LARGEST SHAREHO
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ANALySIS Of IRREDEEmABLE cONvERTIBL
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SUBSTANTIAL ICULS HOLDER Name Direc
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SOUTHERN PENINSULAR REGION Regional
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MIRI REGION Regional Office c/o Lad
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Proxy Form I / We _________________
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FORGING AHEAD - Tradewinds Plantation Berhad

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