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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
4. Profit/(Loss) before tax
The following items have been included in arriving at the profit/(loss) before tax:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
After charging:
Auditors’ remuneration:
- statutory audits 917 892 250 268
- underprovision in prior years 155 70 140 –
Amortisation of prepaid land lease payments (Note 16) 74 71 – –
Amortisation of mining rights (Note 17) 132 539 – –
Amortisation of corporate club membership (Note 17)
Amortisation of deferred mine development and
deferred exploration and evaluation expenditure
44 19 – –
(Note 21) 29,698 12,563 – –
Consulting fees paid to a director of a subsidiary
Directors’ remuneration (Note 37(b)):
60 60 – –
- fees 1,071 1,131 465 450
- benefits-in-kind 129 93 129 93
- salaries and emoluments 1,388 1,209 1,367 1,207
Hire of equipment and vehicles 116 146 116 146
Provision for mine rehabilitation (Note 27) 18,247 5,855 – –
Provision for severance benefits (Note 27) 9,915 8,544 – –
Rental of land and buildings
Secretarial fees payable to a director of a foreign
1,578 1,155 1,939 1,934
subsidiary 46 28 – –
and crediting:
Reversal of write down of tin slag inventory no longer
required 13,897 7,860 – –
5. Dividend income
Dividend income from:
Company
2011 2010
RM’000 RM’000
Investment in subsidiaries
- Unquoted in Malaysia 41,382 5,445
Investment in associates
- Unquoted in Malaysia 28 28
41,410 5,473
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 107