Sample Disclosure – Accounting Policy Of Investment Properties (19 January 2011)

Investment Properties

Investment properties are held for long term rental yields or for capital appreciation or both, and are not occupied by companies within the Group.

Investment properties are measured initially at cost. After initial recognition, investment properties are measured and carried at fair value.

Fair value is based on valuation performed by appointed independent registered valuer(s) taking into account factors such as the property growth and market in the surrounding area. The fair value of the investment properties reflects the market conditions at the balance sheet date. Changes in fair values are recorded in the income statement as investment properties fair value adjustment.

On disposal of an investment property, or when it is permanently withdrawn from use and future economic benefits no longer are expected from the property concerned, it shall be derecognised. The difference between the net disposal proceeds and the carrying value is recognised in the income statement in the period of the retirement or disposal.

Transfer to or from investment property will be made when there is a change in use of the property. The commencement of owner-occupation for the property would result in a transfer of the investment property to self-occupied property, included in category of asset named “Property, Plant and Equipment”. On the other hand, the end of owner-occupation of a property would result in  a transfer from the self-occupied property which is included in Property, Plant and Equipment to the category of asset known as “Investment Properties”.

If a self-occupied property became an investment property that will be carried at fair value, the revaluation surplus of the self-occupied property, included in Asset Revaluation Reserve account would be transferred to accumulated profits.

For a transfer from investment property which is carried at fair value to self-occupied property, the fair value of the property at the date of change in use would be treated as deemed cost of the property for subsequent accounting purposes.

For the transfer of investment property to prepaid lease payments, the Group have adopted the transitional provision stated in Para 67A of FRS 117 which allows the Group to retain the unamortised revalued amount of the property as the surrogate carrying amount of prepaid lease payments.

Sample Disclosure – Note On Dividends (19 August 2009)

DIVIDENDS          
  Dividend per share In respect of Year Recognised in Year
    2008 2007 2009 2008
  RM RM RM RM RM
2007 Final dividend of 45% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 March 2008 and paid on 1 April 2008   

0.3375

  

  

33,750,000

  

  

33,750,000

           
2008 interim dividend of 10% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 June 2008 and paid on 10 June 2008   

0.075

   

 7,500,000

  

  

   

7,500,000

           
2008 final dividend of 30% less 25% taxation, on 100,000,000 ordinary shares, amounting to a dividend payable of RM22,500,000   

0.225

  

22,500,000

  

  

 22,500,000

 

 

     30,000,000  33,750,000  22,500,000  41,250,000

At the forthcoming Annual General Meeting, a final dividend in respect of the financial year ended 31 December 2008, of 30% less 25% taxation on 100,000,000 ordinary shares, amounting to a dividend payable of RM22,500,000 (22.50 cents net per ordinary share) will be proposed for members’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the members of the Company, will be accounted for in equity as an appropriation of accumulated profits in the financial year ending 31 December 2009.

Sample Disclosure – Dividend Declaration in Directors’ Report (18 August 2009)

DIVIDENDS RM
The amounts of dividends paid or declared by the Company since 31 December 2007 were as follows:
In respect of the financial year ended 31 December 2007 as reported in the directors’ report of that year:
Final dividend of 45% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 March 2008 and paid on 1 April 2008 33,750,000
In respect of the financial year ended 31 December 2008:
Interim dividend of 10% less 25% taxation, on 100,000,000 ordinary shares, declared on 1 June 2008 and paid on 10 June 2008 7,500,000

At the forthcoming Annual General Meeting, a final dividend in respect of the financial year ended 31 December 2008, of 30% less 25% taxation on 100,000,000 ordinary shares, amounting to a dividend payable of RM22,500,000 (22.50 cents net per ordinary share) will be proposed for members’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the members of the Company, will be accounted for in equity as an appropriation of accumulated profits in the financial year ending 31 December 2009.

Sample Disclosure – Change In Accounting Estimate On Depreciation Charges (19 February 2009)

Change In Accounting Estimates

The revised FRS 116 – Property, Plant and Equipment requires the review of the residual value and the useful life of an asset at least at each financial year end. The Group revised the estimated residual values of certain motor vehicles with effect from (day/month/year).

The revisions were accounted for prospectively as a change in accounting estimates and as a result, the depreciation charges of the Group for the current financial year end have been increased by RMx,xxx,xxx.

Sample Disclosure – Intangible Assets (14 April 2009)

 

Intangible assets

 

Acquired computer software licenses are capitalised on the basis of the costs incurred to acquire and bring to use of the specific software. These costs are amortised over their estimated useful lives. Costs associated with developing or maintaining computer software programmes are recognised as an expense when incurred. Cost that are directly associated with identifiable and unique software products controlled by the Group, and that will probably generate economic benefits exceeding costs beyond one year, are recognised as intangible assets. Costs include employee costs incurred as a result of developing software and an appropriate portion of relevant of overheads. Costs which enhances or extends the performance of computer software programme beyond their original specifications is recognised as a capital improvement and added to the original cost of software. Computer software development costs recognised as assets are amortised using straight line method over their estimated useful lives, not exceeding a period of 10 years.