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annual report | 2012 Gunung Capital Berhad (330171-P) 50 STATEMENTS OF CASH FLOWS (cont’d) FOR THE YEAR ENDED 31 DECEMBER 2012 2012 RM Group Company Significant Non-Cash Transactions Significant non-cash transactions during the year consist of:- - acquisition of subsidiary under other payables other payables - - - 13,594,000 - acquisition of subsidiary by way of capitalising amount owing by subsidiary - - 432,733 - - acquisition of shares from non-controlling interests under other payables - 13,594,000 - - - acquisition of property, plant and equipment under finance lease and hire purchase payables 6,683,600 733,000 - - - acquisition of property, plant and equipment under other payables - 1,999,200 - - The accompanying notes form an integral part of the financial statements. 2011 RM 2012 RM 2011 RM
NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 1 GENERAL The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office of the Company is at Lot 5911, Jalan Perusahaan 1, Kamunting Industrial Estate, 34600 Kamunting, Perak Darul Ridzuan. The Company is an investment holding company and the principal activities of its subsidiaries are listed in Note 6 to the financial statements. There have been no significant changes in the nature of these activities during the financial year except as disclosed in Note 6. The financial statements of the Company have been authorised by the Board of Directors for issuance on 23 April 2013. 2 SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of Preparation The financial statements of the Group and of the Company are prepared under the historical cost convention unless otherwise indicated in the accounting policies below, and are in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act, 1965 in Malaysia. The financial statements are presented in Ringgit Malaysia (RM). 2.2 First Adoption of Malaysian Financial Reporting Standards (“MFRS”) The financial statements of the Group and of the Company for the financial year ended 31 December 2012 are the first set of financial statements prepared in accordance with the MFRS, and MFRS 1 “First-time adoption of MFRS” has been applied. In the previous years, the financial statements of the Group and of the Company were prepared in accordance with Financial Reporting Standards (“FRS”) in Malaysia. There are no adjustments made in preparing the Group’s and the Company’s opening MFRS statements of financial position as at 1 January 2011 (the Group’s and the Company’s date of transition to MFRS). The accounting policies set out in Note 2.4 have been consistently applied in preparing the financial statements of the Group and of the Company for the financial year ended 31 December 2012, together with the comparative information as at and for the financial year ended 31 December 2011 and the opening statements of financial position as at 1 January 2011. Gunung Capital Berhad (330171-P) 51 annual report | 2012
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Notes:- 1. A member of the Company,
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