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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
17. Intangible assets
Group
Mining
rights
RM’000
Goodwill
RM’000
Corporate
club
membership
RM’000
Total
RM’000
Cost
At 1 January 2011 12,103 657 513 13,273
Additions – – 350 350
At 31 December 2011 12,103 657 863 13,623
At 1 January 2010 12,103 6,166 – 18,269
Acquisition of subsidiaries – 657 513 1,170
Attributable to disposal group classified as held for
sale (Note 22) – (5,735) – (5,735)
Translation difference – (431) – (431)
At 31 December 2010 12,103 657 513 13,273
Accumulated amortisation and impairment losses
At 1 January 2011 10,959 657 110 11,726
Amortisation for the year (Note 4) 132 – 44 176
At 31 December 2011 11,091 657 154 11,902
At 1 January 2010 10,420 – – 10,420
Acquisition of subsidiaries – – 91 91
Amortisation for the year (Note 4) 539 – 19 558
Impairment loss (Note 11) – 5,188 – 5,188
Attributable to disposal group classified as held for
sale (Note 22) – (4,531) – (4,531)
At 31 December 2010 10,959 657 110 11,726
Net carrying amount
At 31 December 2011 1,012 – 709 1,721
At 31 December 2010 1,144 – 403 1,547
Mining rights
Mining rights consist of the estimated fair value of tin reserves and resources of Rahman Hydraulic Tin Sdn. Bhd. at date of
acquisition and cost incurred for the renewal of the mining rights. The acquisition price was based on the projected value of
the estimated quantity of recoverable ore reserves and resources of the mining lease.
Based on the assessment and review made by the management, there is no indication of impairment in the mining rights of
Rahman Hydraulic Tin Sdn. Bhd..
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 119