Events 2005 - ChartNexus

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118 Notes to the Financial Statements 31 December <strong>2005</strong> 2. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Liquidity and cash flow risk The group is actively managing its operating cash flow to ensure all commitments and funding needs are met. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. Due to the dynamic nature of the underlying businesses, the Group aims at maintaining flexibility in funding by keeping committed credit lines available. 3. PRINCIPAL ACTIVITIES The principal activities of the Company are the publication, printing and distribution of newspapers and magazines. The principal activities of the subsidiary companies are set out in Note 8 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. 4. BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements of the Group and of the Company have been prepared in accordance with applicable approved accounting standards in Malaysia and the provisions of the Companies Act, 1965. 5. SIGNIFICANT ACCOUNTING POLICIES 5.1 Basis of accounting The financial statements of the Group and of the Company have been prepared under the historical cost convention (as modified by the revaluation of certain leasehold land and buildings) unless otherwise indicated in the significant accounting policies. The preparation of financial statements in conformity with applicable approved accounting standards in Malaysia and the provisions of the Companies Act, 1965 requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 5.2 Basis of consolidation The consolidated financial statements incorporate the audited financial statements of the Company and all its subsidiary companies made up to the balance sheet date using the acquisition method of accounting. The results of subsidiary companies acquired or disposed of during the financial year are included in the consolidated financial statements from the date of acquisition or up to the date of disposal. All intercompany balances and transactions are eliminated and the consolidated financial statements relate to external transactions only.
Notes to the Financial Statements 31 December <strong>2005</strong> 5. SIGNIFICANT ACCOUNTING POLICIES (Continued) 5.2 Basis of consolidation (Continued) The difference between the purchase price and the fair value of the net assets of the subsidiary companies at the date of acquisition is treated as goodwill or reserve on consolidation. Minority interest is that part of the net results of operations and of net assets of a subsidiary company attributable to interest which are not owned directly or indirectly by the Group. Minority interest is measure at the minority’s proportion of the net assets of subsidiary companies at the date of acquisition, and the minority’s share of changes in equity since the date of the acquisition. Losses applicable to the minority in excess of the minority’s interest in the subsidiary company’s equity are allocated against the interest of the Group except to the extent that the minority has a binding obligation and is able to make an additional investment to cover the losses. When that subsidiary are attributed to the equity holders of the Company until the minority’s share of losses previously absorbed by the equity holders of the Company has been recovered. 5.3 Property, plant and equipment and depreciation The gross carrying amounts of property, plant and equipment are initially measured at cost. Land and buildings which have been subsequently revalued, are stated at valuation less accumulated depreciation and accumulated impairment losses, if any. All other property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment losses, if any. No depreciation is provided for freehold land, plant and building under construction and printing presses and ancillary equipment under production. Leasehold land is amortised over the respective lease periods ranging from 72 to 888 years. Depreciation on other property, plant and equipment is calculated on a straight line basis to write off the cost or valuation of these assets over their estimated useful lives. The principal annual rates of depreciation are as follows: Leasehold land 72 years to 888 years Buildings 30 years to 50 years Plant and machinery 6.5% – 33.33% Furniture, fittings and equipment 10% – 50% Renovation 10% Motor vehicles 20% 5.4 Intangible assets 5.4.1 Goodwill Goodwill represents the excess of the cost of acquisition over the fair value of the Group’s share of the fair value of net assets of the subsidiary company at the date of acquisition. STAR PUBLICATIONS (MALAYSIA) BERHAD 119
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AGENDA ORDINARY BUSINESS 1. To rece
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(b) the maximum funds to be allocat
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AND THAT such approval shall contin
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Financial Calendar - Financial year
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86,328 2001 102,876 2002 137,080 20
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Consolidated Cash Flow Summary Ring
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DATUK SERI KAMAL MOHAMED HASHIM Dat
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Mr Geh, aged 71, was appointed as a
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DATO’ WIRA SYED ABDUL JABBAR BIN
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TAN SRI DATO’ DR SAK CHENG LUM Ta
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Senior Management Team Kumpulan Pen
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Fresh PRESENTATION We are constantl
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FINANCIAL AND MARKET SHARE PERFORMA
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As part of the group’s anniversar
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The company will continue to work a
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HUMANResource Sumber Manusia 1. INT
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Laporan Pengarah PERISTIWA SELEPAS
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Laporan Juruaudit kepada ahli-ahli
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Kunci Kira-kira pada 31 Disember 20
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Penyata Perubahan dalam Ekuiti bagi
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Approximate Year of age of building
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LIST OF TOP THIRTY SHAREHOLDERS/DEP
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DIRECTORS’ DIRECT AND INDIRECT IN
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Corporate Directory Panduan Korpora
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Proxy Form I / We IC No. / ID No. /
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Borang Proksi Saya/Kami No. K/P / N
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