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NOTES TO THE FINANCIAL STATEMENTS<br />
31 DECEMBER 2012<br />
1 GENERAL<br />
The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main<br />
Market of Bursa Malaysia Securities Berhad. The registered office of the Company is at Lot 5911, Jalan Perusahaan 1,<br />
Kamunting Industrial Estate, 34600 Kamunting, Perak Darul Ridzuan.<br />
The Company is an investment holding company and the principal activities of its subsidiaries are listed in Note 6 to<br />
the financial statements. There have been no significant changes in the nature of these activities during the financial<br />
year except as disclosed in Note 6.<br />
The financial statements of the Company have been authorised by the Board of Directors for issuance on 23 April<br />
2013.<br />
2 SIGNIFICANT ACCOUNTING POLICIES<br />
2.1 Basis of Preparation<br />
The financial statements of the Group and of the Company are prepared under the historical cost convention<br />
unless otherwise indicated in the accounting policies below, and are in accordance with Malaysian Financial<br />
Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act,<br />
1965 in Malaysia.<br />
The financial statements are presented in Ringgit Malaysia (RM).<br />
2.2 First Adoption of Malaysian Financial Reporting Standards (“MFRS”)<br />
The financial statements of the Group and of the Company for the financial year ended 31 December 2012 are<br />
the first set of financial statements prepared in accordance with the MFRS, and MFRS 1 “First-time adoption of<br />
MFRS” has been applied.<br />
In the previous years, the financial statements of the Group and of the Company were prepared in accordance<br />
with Financial Reporting Standards (“FRS”) in Malaysia. There are no adjustments made in preparing the Group’s<br />
and the Company’s opening MFRS statements of financial position as at 1 January 2011 (the Group’s and the<br />
Company’s date of transition to MFRS).<br />
The accounting policies set out in Note 2.4 have been consistently applied in preparing the financial statements<br />
of the Group and of the Company for the financial year ended 31 December 2012, together with the comparative<br />
information as at and for the financial year ended 31 December 2011 and the opening statements of financial<br />
position as at 1 January 2011.<br />
Gunung Capital Berhad (330171-P)<br />
51<br />
annual report | 2012