FINANCIAL STATEMENTS - Mewah Group

More documents

Recommendations

Info

MEWAH INTERNATIONAL INC.NOTES TOTHE FINANCIAL STATEMENTSFor the financial year ended 31 December 201225. DEFERRED INCOME TAXES (CONTINUED)Group (continued)Deferred income tax assets2012Unutilised taxlossesUnutilisedreinvestmentallowanceUnrealised loss onderivative financialinstruments Others TotalUS$’000 US$’000 US$’000 US$’000 US$’000Beginning of financial year 110 8,166 4,898 1,587 14,761Currency translationdifferences 4 330 151 80 565Credited/(charged) to- profit or loss 561 3,962 (1,679) 2,270 5,114End of financial year 675 12,458 3,370 3,937 20,4402011Beginning of financial year 45 4,611 6,572 991 12,219Currency translationdifferences (9) (232) (112) (38) (391)Credited/(charged) to- profit or loss 74 3,787 (1,562) 634 2,933End of financial year 110 8,166 4,898 1,587 14,761Deferred income tax assets are recognised for tax losses and capital allowances carried forward to the extent that realisation of the relatedtax benefits through future taxable profits is probable. The Group has unrecognised tax losses of US$9,370,000 (2011: US$4,960,000) atthe statement of financial position date which can be carried forward and used to offset against future taxable income subject to meetingcertain statutory requirements by those companies with unrecognised tax losses and capital allowances in their respective countries ofincorporation. The tax losses have no expiry date.86
ANNUAL REPORT 2012NOTES TOTHE FINANCIAL STATEMENTSFor the financial year ended 31 December 201226. SHARE CAPITAL AND SHARE PREMIUMGroup and CompanyAuthorised sharecapital at par valueof US$0.001/US$0.01No. of ordinary sharesIssued share capitalat par value ofUS$0.001/US$0.01Authorised sharecapital at par valueof US$0.001/US$0.01AmountShare capital at parvalue of US$0.001/US$0.01Share premium‘000 ‘000 US$’000 US$’000 US$’0002012Beginning and end offinancial year, ordinaryshares at par value,US$0.001 30,000,000 1,507,061 30,000 1,507 185,4162011Beginning and end offinancial year, ordinaryshares at par value,US$0.001 30,000,000 1,507,061 30,000 1,507 185,416All issued ordinary shares are fully paid. Fully paid ordinary shares carry one vote per share and carry a right to dividends as and whendeclared by the Company.27. OTHER RESERVESGroup2012 2011US$’000 US$’000(a) Composition:Merger reserve (50,706) (50,749)General reserve (2,608) (2,608)Asset revaluation reserve 10,058 10,146Currency translation reserve 35,667 27,796(7,589) (15,415)Merger reserve represents the difference between the cost of investment and nominal value of share capital of the merged subsidiary.87
Page 3 and 4: ANNUAL REPORT 2012DIRECTORS’ REPO
Page 5: ANNUAL REPORT 2012STATEMENT BY DIRE
Page 8 and 9: MEWAH INTERNATIONAL INC.CONSOLIDATE
Page 10 and 11: MEWAH INTERNATIONAL INC.STATEMENT O
Page 12 and 13: MEWAH INTERNATIONAL INC.CONSOLIDATE
Page 14 and 15: MEWAH INTERNATIONAL INC.NOTES TOTHE
Page 40 and 41: MEWAH INTERNATIONAL INC.NOTES TO TH

FINANCIAL STATEMENTS - Mewah Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?