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