Revenue recognition Revenue from sale of goods is measured at fair value of the consideration received or receivable and is recognised in the statement of comprehensive income of the Company when significant risks and rewards of the ownership of the goods have...
Prior to 1 January 2010, information about financial instruments was disclosed in accordance with the requirements of FRS 132 Financial Instruments: Disclosure and Presentation. The Group and the Company adopted FRS 7 Financial Instruments: Disclosures (“FRS...
Operating Segments In the previous financial years, the Group deemed a segment as a distinguishable component of the Group that was engaged either in providing products or services (business segment), or in providing products or services within a particular ec...
Note On Significant Event During The Year – Lifting Of PN 17 Status The Company had previously announced on 8 April 2008 that it intended to undertake a regularisation scheme to address its status under the Amended Practice Note 17/2005 of the Listing Requir...
Realised and Unrealised Profits On 25 March 2010, Bursa Malaysia Securities Berhad (“Bursa Malaysia”) issued a directive to all listed issuers pursuant to Paragraphs 2.06 and 2.23 of Bursa Malaysia Main Market Listing Requirements. The directive requires a...
RESERVES i. Share premium arose from the issuance of 10,575,000 shares of RM1.00 each at a premium of RM0.15 per share, net of listing expenses. ii. Asset revaluation surplus arose from revaluation of freehold land...
SIGNIFICANT EVENT SUBSEQUENT TO THE BALANCE SHEET DATE On 18 November 2010, the Group through its wholly-owned subsidiary company, DEF Sdn. Bhd., subscribed for the entire ordinary shares of GHI Sdn. BHd., for a total cash consideration of RM1,000, resulting i...
Biological Assets – Forest planting expenditure All direct and related expenses incurred on the development of the Company’s Sustainable Forest Ecology and Management Project under the licensed agreement entered into with the State Government of Wonder...
Intangible assets – timber rights This represents the exclusive rights acquired by the Company to extract and purchase all commercial timber logs extractable from a designated timber concession area. Timber rights are stated at cost less accumulated amoritsa...
ABC SDN. BHD. (Incorporated in Malaysia) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ABC SDN. BHD. Report on the Financial Statements We have audited the financial statements of ABC SDN. BHD., which comprise the balance sheets as at 30 September 2010 of t...
Principal Activities The principal activity of the Company is investment holding and its subsidiaries are primarily engaged in the manufacture and sale of chilli sauce, bottles and containers manufacturing and packaging and the provision of management services...
A good article I have read today on income tax treatment of non-executive directors of companies on The Star newspaper The Star, starbiz, Wednesday January 19, 2011 Did you know non-executive directors are a special group of taxpayers? Tax Insights – By ...
Exemption from the requirement of the financial year end of new subsidiaries to coincide with that of the holding company Pursuant to Section 168 of the Companies Act, 1965, the financial year end of the Company’s two newly acquired foreign subsidiaries, ABC...
Interesting points raised in the Star Newspaper (VIEWS section, N53) on 24 December 2009 opposing the implementation of the Goods and Services Tax (GST) in Malaysia:- “We don’t need the GST to boost revenue The additional RM1bil revenue said to be derive...
Reported in the Star Newspaper (NATION section, N6) on the Government’s move to introduce measures to curb abuse of Goods and Services Tax (GST) that is to be implemented in Malaysia on 24 December 2009:- “Moves to curb abuse of GST By: FINTAN NG fintan@th...
The Prime Minister of Malaysia said last night that Real Property Gains Tax (RPGT) of 5% announced during the 2010 Budget will only apply to property sold less than 5 years from its purchase. The Prime Minister also announced that hotels undertaking additional...