Download PDF - ChartNexus

More documents

Recommendations

Info

annual report | 2012 Gunung Capital Berhad (330171-P) 78 NOTES TO THE FINANCIAL STATEMENTS (cont’d) 31 DECEMBER 2012 19 DEFERRED TAX LIABILITIES (cont’d) The components and movements of deferred tax liabilities and deferred tax assets of the Group prior to offsetting are as follows:- (cont’d) Unabsorbed capital allowance RM Unutilised tax losses RM Deferred tax assets As at 1 January 2012 (357) (302,147) (302,504) Recognised in profit or loss 357 (67,815) (67,458) Under provision in previous years (280,328) (156,773) (437,101) As at 31 December 2012 (280,328) (526,735) (807,063) As at 1 January 2011 (1,259) - (1,259) Recognised in profit or loss 902 (302,147) (301,245) As at 31 December 2011 (357) (302,147) (302,504) The components and movements of deferred tax liability and deferred tax asset of the Company are as follows:- Deferred tax liability Accelerated capital allowance RM Deferred tax asset Unabsorbed capital allowance RM Total RM After appropriate offsetting RM As at 1 January 2012 357 (357) - Recognised in profit or loss (357) 357 - As at 31 December 2012 - - - As at 1 January 2011 1,259 (1,259) - Recognised in profit or loss (902) 902 - As at 31 December 2011 357 (357) - As at the end of the reporting period, deferred tax assets have not been recognised in respect of the following items:- Group Company Unutilised tax losses 7,902,800 11,307,966 593,829 593,829 Unabsorbed capital allowance 19,245 1,140,556 19,245 19,245 2012 RM 2011 RM 2012 RM 2011 RM 7,922,045 12,448,522 613,074 613,074 The unutilised tax losses and unabsorbed capital allowance, which do not expire under current tax legislations, are available for offset against the future taxable profits deriving from the same source of the respective companies in the Group and of the Company.
NOTES TO THE FINANCIAL STATEMENTS (cont’d) 31 DECEMBER 2012 20 TRADE PAYABLES The currency profile of trade payables is entirely in Ringgit Malaysia. The normal credit terms granted to the Group is 30 days. 21 OTHER PAYABLES 2012 RM Group Company Other payables 94,333 3,907,264 8,605 1,708,560 Accruals 168,623 459,484 63,343 37,000 Contractor performance bond received 8,629,999 8,200,595 - - Deposits received - 1,227,000 - - Dividend payables - 1,009,478 - 1,009,478 Shareholder’s advance (Note 18) 1,726,811 - - - Amount owing to a director 2,306,000 14,747,266 2,306,000 11,956,000 Amount owing to a related company - 2,766,467 - - Total 12,925,766 32,317,554 2,377,948 14,711,038 The amount owing to a director is unsecured, interest-free and repayable on demand. The balance of RM2,306,000 (2011: RM11,956,000) arises from the acquisition of additional shares in GPB Corporation Sdn. Bhd. from the director, which remained unpaid as at the end of the reporting period. The amount owing to a related company, Korakan Corporation Sdn. Bhd., was unsecured, interest-free and repayable on demand. 22 BANK BORROWINGS 2011 RM 2012 RM Group Short term bridging loan - 3,943,546 Short term bridging loan was a temporary loan extended to a subsidiary, GPB Corporation Sdn. Bhd., for the purchase of property, plant and equipment which was eventually financed by leasing facility in the current financial year. The bridging loan bears an interest of 8.5% per annum. 2012 RM 2011 RM 2011 RM Gunung Capital Berhad (330171-P) 79 annual report | 2012
Page 2 and 3:
(Source: CEO of Gunung Capital Bhd,
Page 4 and 5:
annual report | 2012 Gunung Capital
Page 6 and 7:
Page 8 and 9:
Page 10 and 11:
Page 12 and 13:
Page 14 and 15:
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31: annual report | 2012 Gunung Capital
Page 110 and 111: Notes:- 1. A member of the Company,
show all

Download PDF - ChartNexus

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?