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