MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...

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Notes to The Financial Statements (cont’d) 3. SIGNIfICANT ACCoUNTING JUDGEMENTS AND ESTIMATES (CoNT’D) 3.2 key sources of estimation uncertainty (cont’d) (x) Net Realisable values of Inventories Reviews are made periodically by management on damaged, obsolete and slow-moving inventories. These reviews require judgement and estimates. Possible changes in these estimates could result in revisions to the valuation of inventories. As at the end of the reporting period, the Directors of the Company are of the opinion that there is no adjustment required resulting from the impairment review. (xi) Impairment of Investment in Subsidiary Companies and Associate The Group and the Company carried out the impairment test based on a variety of estimation including the value-in-use of the cash generating unit. Estimating the value-in-use requires the Group to make an estimate of the expected future cash flows from the cash generating unit and also to choose a suitable discount rate in order to calculate the present value of those cash flows. As at the end of the reporting period, the directors of the Company are of the opinion that there is no adjustment required resulting from the impairment review. (xii) Determination of fair value The Directors are of the opinion that the long term financial liabilities approximates its fair value because they are floating rate instruments which are deemed to be re-priced at the current prevailing market rates. <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011 63
Notes to The Financial Statements (cont’d) 4. pRopERTy, plANT AND EQUIpMENT fixtures, fittings and freehold land office Motor plant and and building Buildings equipment Renovations vehicles machinery Total RM RM RM RM RM RM RM Group 2011 64 <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011 Cost or valuation At 1st January 2011 - 7,346,799 9,150,933 5,251,384 8,968,331 84,735,587 115,453,034 Additions - - 355,288 2,025,945 2,689,028 5,450,021 10,520,282 Transfer from property development costs (Note 5(b)) 1,612,957 - - - - - 1,612,957 Disposals - - (19,574) - (907,316) (972,064) (1,898,954) Written off - - (1,231,934) (606,740) (415,041) (120,617) (2,374,332) Exchange differences (161,485) - (94,701) - (115,899) (326,160) (698,245) At 31st December 2011 1,451,472 7,346,799 8,160,012 6,670,589 10,219,103 88,766,767 122,614,742 Accumulated depreciation At 1st January 2011 - 950,254 6,825,840 2,906,512 6,468,138 69,868,286 87,019,030 Depreciation for the financial year 124,876 22,060 649,877 748,665 742,429 3,660,647 5,948,554 Disposals - - (15,072) - (812,157) (949,998) (1,777,227) Written off - - (1,059,322) (408,389) (54,213) (102,632) (1,624,556) Exchange differences - - (82,863) - (114,578) (310,847) (508,288) At 31st December 2011 124,876 972,314 6,318,460 3,246,788 6,229,619 72,165,456 89,057,513 Net book value at 31st December 2011 1,326,596 6,374,485 1,841,552 3,423,801 3,989,484 16,601,311 33,557,229
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2011 Annual Report
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Corporate Information Board of dire
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Board of Directors from left to rig
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Directors’ Profile (cont’d) roL
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Chairman’s Statement on behalf of
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Operations Review For the financial
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Page 15 and 16: Statement on Internal Control INTRo
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List of Properties (cont’d) The d
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Notice of Annual General Meeting No
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Notice of Annual General Meeting (c
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