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NOTES TO THE FINANCIAL STATEMENTS (cont’d)<br />
31 DECEMBER 2012<br />
14 DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE<br />
During the previous financial year, the Group had planned to dispose Gunung Biofuel Sdn. Bhd. (“GBSB”), a subsidiary<br />
whose principal activity is in property investment and had classified the related assets and liabilities as a “disposal<br />
group” held for sale. The disposal of GBSB was completed during the current financial year and its effects are disclosed<br />
in Note 6.<br />
As at the end of the previous reporting period, the assets and liabilities related to GBSB have been presented in the<br />
statement of financial position as “Assets of disposal group classified as held for sale” and “Liabilities directly associated<br />
with disposal group classified as held for sale”.<br />
Statements of financial position disclosures<br />
The major classes of assets and liabilities of GBSB classified as held for sale as at 31 December 2011 were as follows:<br />
Group<br />
Assets:<br />
Investment property 3,903,332<br />
Tax recoverable 3,865<br />
Cash and bank balances 31,415<br />
Assets of disposal group classified as held for sale 3,938,612<br />
Liabilities:<br />
Other payables and accruals (4,596)<br />
Liabilities directly associated with disposal group classified as held for sale (4,596)<br />
Net assets of disposal group classified as held for sale 3,934,016<br />
The non-current asset classified as held for sale on the Company’s statement of financial position as at 31 December<br />
2011 was as follows:<br />
RM<br />
Company<br />
Assets:<br />
Investment property 1,892,629<br />
RM<br />
Gunung Capital Berhad (330171-P)<br />
73<br />
annual report | 2012