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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
22. Disposal group classified as held for sale
At 31 December 2010, the Group and the Company reclassified its 76.91% interest in Australia Oriental Minerals NL (“AOM”)
and 53.04% effective interest in Asiatic Coal Private Limited (“ACPL”) as disposal group held for sale.
The assets, liabilities and non-current assets classified as held for sale on the Group’s and the Company’s statement of
financial position were measured at the lower of carrying amounts and fair values less costs to sell.
Statements of financial position disclosures
The major classes of assets and liabilities of AOM and ACPL classified as held for sale and the related foreign currency
translation reserve on the Group’s statement of financial position as at 31 December 2011 and 2010 were as follows:
Group
2011 2010
RM’000 RM’000
Assets:
Property, plant and equipment (Note 15) – 59
Intangible assets (Note 17) – 1,204
Deferred exploration and evaluation expenditure (Note 21) – 9,373
Mining assets (Note 21) – 13,135
Inventory – 754
Other receivables – 426
Cash, bank balances and deposits (Note 26) – 525
Assets of disposal group classified as held for sale – 25,476
Liabilities:
Trade and other payables – 7,867
Provisions (Note 27) – 158
Deferred tax liabilities (Note 33) – 3,284
Liabilities directly associated with disposal group classified as held for sale – 11,309
Net assets directly associated with disposal group classified as held for sale – 14,167
Reserve:
Reserve of disposal group classified as held for sale – (3,256)
The non-current assets classified as held for sale on the Company’s statement of financial position as at 31 December 2011
and 2010 were as follows:
Company
2011 2010
RM’000 RM’000
Assets:
Investment in subsidiary – 21,147
Investment in associate – 3,940
– 25,087
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 127