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Notes to the Financial Statements (cont’d) For the financial year ended 31 December 2011 40. Segmental information (cont’d) Business segments (cont’d) Tin Smelting Tin Mining Others (Eliminations)/ Adjustments Total Note RM’000 RM’000 RM’000 RM’000 RM’000 Assets Segment assets Investment in associates and 620,996 476,876 913 (1,107) 1,097,678 jointly controlled entity 2,475 – 171,706 – 174,181 Total assets 623,471 476,876 172,619 (1,107) 1,271,859 Liabilities Segment liabilities 574,506 234,486 1,019 (449) 809,562 Other segment information Additions of non-current assets - Property, plant and equipment 15 5,974 6,197 – – 12,171 - Prepaid land lease payments 16 – 141 – – 141 - Intangible and other assets 17/21 – 43,636 – – 43,636 Depreciation 15 1,765 11,819 34 – 13,618 Amortisation of prepaid land lease payments 16 27 47 – – 74 Amortisation of mining rights 17 – 132 – – 132 Amortisation of corporate club membership 17 – 4 40 – 44 Amortisation of deferred mine development and deferred exploration and evaluation expenditure 21 – 29,698 – – 29,698 Other significant non-cash expenses: Provision for mine rehabilitation 27 – 18,247 – – 18,247 Provision for severance benefits 27 – 9,895 20 – 9,915 Reversal of write down of tin slag inventory no longer required – (13,897) – – (13,897) Interest income (11,360) (1,607) – – (12,967) MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 167
Notes to the Financial Statements (cont’d) For the financial year ended 31 December 2011 40. Segmental information (cont’d) 168 Business segments (cont’d) At 31 December 2010 Revenue Building on Success: Developing Resources for the Future Tin Smelting Tin Mining Others (Eliminations)/ Adjustments Total Note RM’000 RM’000 RM’000 RM’000 RM’000 Sales to external customers 2,726,985 10,036 1,813 – 2,738,834 Inter-segment sales – 521,021 1,820 (522,841) – Total revenue 2,726,985 531,057 3,633 (522,841) 2,738,834 Results Profit/(Loss) from operations 56,076 44,668 (6,911) 166 93,999 Finance costs Share of profit/(loss) of associates and jointly 9 (10,320) (6,620) (5,426) – (22,366) controlled entity Profit /(Loss) before (627) (3,883) 8,892 – 4,382 exceptional losses 45,129 34,165 (3,445) 166 76,015 Exceptional losses, net 11 (8,800) – (145,678) – (154,478) Profit /(Loss) before tax 36,329 34,165 (149,123) 166 (78,463) Income tax expense 12 (15,369) (20,195) 13,838 (42) (21,768) Profit/(Loss) net of tax 20,960 13,970 (135,285) 124 (100,231) Assets Segment assets 568,391 478,423 27,671 (3,377) 1,071,108 Investment in associates and jointly controlled entity 4,413 – 144,126 – 148,539 Total assets 572,804 478,423 171,797 (3,377) 1,219,647 Liabilities Segment liabilities 678,614 221,874 12,183 (449) 912,222
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ANNUAL REPORT 2011 Building on Succ
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viSion To be a successful world-cla
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Corporate Profile Malaysia Smelting
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Corporate Profile (cont’d) For of
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Notice of Annual General Meeting NO
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Group Financial Highlights 10 Build
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Board of Directors From left to rig
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Directors’ Profile 14 Building on
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Directors’ Profile (cont’d) 16
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Statement by the Chairman 18 Buildi
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Statement by the Chairman (cont’d
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Group Chief Executive Officer/Execu
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Securing the Future (cont’d) 32 B
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Securing the Future (cont’d) Ore
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Tin Market Review 2011-2012 (cont
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Tin Market Review 2011-2012 (cont
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New Opportunities for Tin Use (cont
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