I-Berhad (7029-H) - Bursa Malaysia

1. Principal Activities
The principal activities of the Company are the manufacture of household electrical appliances and
investment holding.
The principal activities of the subsidiaries are described in Note 10.
There have been no significant changes in these principal activities during the financial year.
2. Change of Name
The Company changed its name from Neico Industries (M) Berhad to I-Berhad on 12 August, 1999.
3. Significant Accounting Policies
a. Basis of Accounting
The accounts have been prepared under the historical cost convention modified by the revaluation of
certain land and buildings and comply with applicable approved accounting standards in Malaysia.
b. Basis of Consolidation
The consolidated accounts include the accounts of the Company and all its subsidiaries made up to
the end of the financial year. The results of subsidiaries acquired during the year are included in the
consolidated profit and loss account from the date of their acquisition. Inter-company transactions are
eliminated on consolidation and the consolidated accounts reflect external transactions only.
The excess of the purchase price over the fair value of the net assets of subsidiaries at the date of
acquisition is included in the consolidated balance sheet as goodwill arising on consolidation.
Goodwill arising on consolidation is amortised over 10 years.
c. Investments
Investments in subsidiaries and other investments are stated at cost less provision for any permanent
diminution in value.
d. Currency Conversion and Translation
Transactions in foreign currencies during the year are converted into Ringgit Malaysia at rates of
exchange approximating those ruling at the transaction dates. Foreign currency monetary assets
and liabilities at the balance sheet date are translated into Ringgit Malaysia at rates of exchange
approximating those ruling at that date. All exchange gains or losses are dealt with in the profit
and loss accounts.
Notes To The Accounts
... as at 31 December, 1999
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