WTK Holdings Berhad - Bursa Malaysia

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Notes to the Financial Statements (Cont’d) 31 December 2003
2. SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
(d) Investments in Subsidiaries, Associates and Jointly Controlled Entity
The Company’s investments in subsidiaries, associates and jointly controlled entity are stated at cost
less impairment losses. The policy for the recognition and measurement of impairment losses is in
accordance with Note 2(o).
On disposal of such investments, the difference between net disposal proceeds and their carrying
amounts is recognised in the income statement.
(e) Property, Plant and Equipment and Depreciation
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
The policy for the recognition and measurement of impairment losses is in accordance with Note 2(o).
Certain land and buildings are stated at valuation less impairment losses. These assets have not been
revalued since they were first revalued in 1980 and 1996. The directors have not adopted a policy of
regular revaluations of such assets. As permitted under the transitional provisions of IAS 16 (Revised):
Property, Plant and Equipment, these assets continue to be stated at their 1980 and 1996 valuation less
accumulated depreciation. Upon disposal of revalued assets, the attributable revaluation surplus remaining
in the revaluation reserve is transferred to retained profits.
Freehold land and construction in progress are not depreciated. Leasehold land is depreciated over the
period of the respective leases which range from 11 years to 99 years. Depreciation of other property,
plant and equipment is provided for on a straight line basis to write off the cost of each asset to its
residual value over the estimated useful life at the following annual rates:
Office lots 2%
Freehold land and buildings 2%
Factory buildings and improvements 3% - 10%
Furniture, fittings, equipment, renovations and installations 5% - 20%
Plant, machinery, moulds and loose tools 5% - 66 2/3%
Motor vehicles 20%
Roads and bridges 5%
Upon the disposal of an item of property, plant or equipment, the difference between the net disposal
proceeds and the net carrying amount is recognised in the income statement and the unutilised portion
of the revaluation surplus on that item is taken directly to retained profits.
(f) Investment Properties
Investment properties consist of investments in land and buildings that are not substantially occupied
for use by, or in the operations of the Group.
Investment properties are treated as long term investments and are stated at cost.
W T K HOLDINGS BERHAD (10141-M)