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

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Notes to The Financial Statements (cont’d) 6. INvESTMENT pRopERTIES Group 2011 2010 RM RM Cost or valuation At 1st January At cost 36,619,210 36,712,923 At valuation (Note 6(a)) 700,000 700,000 37,319,210 37,412,923 Additions 4,604,872 - Disposal/Reversal (250,000) (93,713) At 31st December 41,674,082 37,319,210 Representing: At cost 40,974,082 36,619,210 At valuation 700,000 700,000 41,674,082 37,319,210 Accumulated depreciation At 1st January 1,352,947 78,096 Depreciation for the financial year (Note 25) 360,181 1,274,851 Disposals (60,000) - At 31st December 1,653,128 1,352,947 Accumulated impairment losses At 1st January - - Impairment losses for the financial year 2,082,172 - At 31st December 2,082,172 - Net carrying amount At cost 37,238,782 35,266,263 At valuation (Note 6(a)) 700,000 700,000 At 31st December 37,938,782 35,966,263 (a) Certain freehold lands of the Group were revalued by the Directors in the financial year 1993 based on an independent valuation carried out on an existing use basis. The property has continued to be stated on the basis of the 1993 valuation, as allowed by the transitional provisions of IAS16 (Revised), Property, Plant and Equipment, issued by the Malaysian Accounting Standards Board by virtue of which a reporting enterprise is allowed to retain revalued amounts on the basis of their previous revaluations (subject to continuity in depreciation policy and the requirement to write an asset down to its recoverable amount). The above-mentioned freehold lands were revalued on 25th October 1993. At 31st December 2011, had the revalued freehold lands of the Company been carried under the cost model, the carrying amount would have been RM360,044/- (2010: RM360,044/-). (b) The market value for the above investment properties of approximately RM91.9 million (2010: RM48.5 million) are determined based on:- (i) Information available through internal research and Director’s best estimate; and (ii) Independent valuation report. (c) The impairment losses of RM2.08 million was made during the year based on information available through internal assessment and external quotation obtained. <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011 69
Notes to The Financial Statements (cont’d) 7. INvESTMENT IN SUBSIDIARIES Company 2011 2010 RM RM Unquoted shares - at cost At 1st January 30,917,190 30,667,190 Addition during the year - 250,000 At 31st December 30,917,190 30,917,190 Details of the subsidiaries are as follows:- Country of Equity interest Name of Company incorporation 2011 2010 principal activities % % Held by the Company: Pembinaan Mitrajaya Sdn. Bhd. Malaysia 100 100 Civil engineering, building and road construction works and supply of construction material Daya Asfalt Sdn. Bhd. Malaysia 100 100 Manufacturing and selling of premix Dutawani Sdn. Bhd. # Malaysia 100 100 Investment holding and maintenance of properties Mitrajaya Homes Sdn. Bhd. Malaysia 100 100 Construction and property development Mitrajaya Equipment Malaysia 100 100 Renting of plant and machinery Resource Sdn. Bhd. # Mitrajaya Development Sdn. Bhd. # Mitrajaya Home Décor Sdn. Bhd. Primaharta Development Sdn. Bhd. Malaysia 100 100 Investment holding Malaysia 100 100 Renovations work Malaysia 51 51 Property development Leo Vista Sdn. Bhd. Malaysia 100 100 Property development Awana Prisma Sdn. Bhd. Malaysia 100 100 Property development Kina-Bijak Sdn. Bhd. Malaysia 100 100 Property development Skyway Development Sdn. Bhd. # Optimax Eye Specialist Centre Sdn. Bhd. # 70 <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011 Malaysia 72 72 Property development Malaysia 51 51 Photorefractive keratectomy and related services
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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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Audit Committee Report The Audit Co
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Statement on Internal Control INTRo
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