Annual Report (Complete) - MYCRON Steel Berhad

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Notes to the Financial Statements 30 June 2010 (continued) 13. PROPERTY, PLANT AND EQUIPMENT (continued) Freehold land RM Buildings RM Plant, machinery and electrical installation RM Motor vehicles RM Furniture, fittings and office equipment RM Total RM Group 2009 Accumulated depreciation At 1 July 2008 Charge for the financial year - - 3,335,812 1,839,712 18,214,052 8,804,122 768,168 168,025 270,259 40,699 22,588,291 10,852,558 At 30 June 2009 - 5,175,524 27,018,174 936,193 310,958 33,440,849 Net book value At 30 June 2009 - cost - valuation - 28,900,000 - 66,827,455 - 195,778,220 744,050 - 215,932 - 959,982 291,505,675 28,900,000 66,827,455 195,778,220 744,050 215,932 292,465,657 Furniture, fittings Buildings RM Motor vehicles RM and office equipment RM Total RM Company 2010 Cost/Valuation At 1 July 2009 - cost - valuation - 5,984,140 576,291 - 180,512 - 756,803 5,984,140 At 30 June 2010 5,984,140 576,291 180,512 6,740,943 Analysed by: - cost - valuation - 5,984,140 576,291 - 180,512 - 756,803 5,984,140 5,984,140 576,291 180,512 6,740,943 Accumulated depreciation At 1 July 2009 Charge for the financial year 408,916 119,683 312,158 57,629 79,726 18,051 800,800 195,363 At 30 June 2010 528,599 369,787 97,777 996,163 Net book value At 30 June 2010 - cost - valuation - 5,455,541 206,504 - 82,735 - 289,239 5,455,541 5,455,541 206,504 82,735 5,744,780 pg 69 | Mycron Steel Berhad
Notes to the Financial Statements 30 June 2010 (continued) 13. PROPERTY, PLANT AND EQUIPMENT (continued) Furniture, fittings Buildings RM Motor vehicles RM and office equipment RM Total RM Company 2009 Cost/Valuation At 1 July 2008 - cost - valuation - 5,984,140 576,291 - 180,512 - 756,803 5,984,140 At 30 June 2009 5,984,140 576,291 180,512 6,740,943 Analysed by: - cost - valuation - 5,984,140 576,291 - 180,512 - 756,803 5,984,140 5,984,140 576,291 180,512 6,740,943 Accumulated depreciation At 1 July 2008 Charge for the financial year 289,233 119,683 254,528 57,630 61,675 18,051 605,436 195,364 At 30 June 2009 408,916 312,158 79,726 800,800 Net book value At 30 June 2009 - cost - valuation - 5,575,224 264,133 - 100,786 - 364,919 5,575,224 5,575,224 264,133 100,786 5,940,143 For the current financial year, management has assessed the fair value of the property, plant and equipment and concluded that the fair value of the property, plant and equipment does not differ materially from their carrying amounts. Land and buildings, plant, machinery and electrical installation of the Group were revalued in January 2006 by an independent firm of professional valuers, CH Williams Talhar & Wong Sdn Bhd, based on open market value and depreciated replacement costs respectively. Buildings, plant and machinery and electrical installation of the Group with net book value of RM77,549,336 (2009: RM79,677,414) have been pledged as security for borrowings (Term Loan 1) granted to a subsidiary of the Group (refer Note 26). Property, plant and equipment of the Group with net book value of RM202,833,606 (2009: RM208,012,874) has been pledged for other banking facilities granted to the subsidiary (refer Note 26). The net book value of the revalued property, plant and equipment that would have been included in the financial statements had these assets been carried at cost less accumulated depreciation is as follows: Group Company 2010 RM 2009 RM 2010 RM 2009 RM Freehold land Buildings Plant, machinery and electrical installation 14,189,742 35,326,224 32,621,535 14,189,742 36,373,846 35,217,438 - 5,692,635 - - 5,823,254 - 82,137,501 85,781,026 5,692,635 5,823,254 pg 70 | Mycron Steel Berhad
Page 2 and 3:
Contents Notice of Seventh (7th) An
Page 4 and 5:
Notice of Seventh Annual General Me
Page 6 and 7:
Chairman’s Statement On behalf of
Page 8 and 9:
Chairman’s Statement (continued)
Page 10 and 11:
Corporate Information Domicile : Ma
Page 12 and 13:
Mycron Steel Berhad pg 11 | Mycron
Page 14 and 15:
Quality Recognition pg 13 | Mycron
Page 16 and 17:
Profile of Directors Tunku Dato’
Page 18 and 19:
Profile of Directors (continued) Da
Page 20 and 21: Profile of Directors (continued) En
Page 22 and 23: Analysis of Shareholdings As at 15
Page 24 and 25: Analysis of Shareholdings As at 15
Page 26 and 27: Statement on Corporate Governance (
Page 36 and 37: Statement on Internal Control 1. In
Page 38 and 39: Statement on Internal Control (cont
Page 40 and 41: Audit Committee Report (continued)
Page 42 and 43: Directors’ Report for the financi
Page 44 and 45: Directors’ Report for the financi
Page 46 and 47: Statement by Directors Pursuant to
Page 48 and 49: Income Statements for the financial
Page 50 and 51: Consolidated Statement of Changes i
Page 52 and 53: Cash Flow Statements for the financ
Page 54 and 55: Notes to the Financial Statements 3
Page 82 and 83: THIS PAGE HAS BEEN INTENTIONALLY LE
Page 84 and 85: FORM OF PROXY (please refer to the
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Annual Report (Complete) - MYCRON Steel Berhad

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