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LAPORAN TAHUNAN 2005 ANNUAL REPORT

  • 2.

    SIGNIFICANT ACCOUNTING POLICIES (CONTD.)

    • (m)

      Financial Instruments (Contd.)

    • (ii)

      Receivables

Receivables are carried at anticipated realisable values. Bad debts are written off when identified. An estimate is made for doubtful debts based on a review of all outstanding amounts as at the balance sheet date.

(iii) Payables Payables are stated at cost which is the fair value of the consideration to be paid in the future for goods and services received.

(iv) Interest-Bearing Borrowing Interest-bearing bank loans and overdrafts are recorded at the amount of proceeds received, net of transaction costs. All borrowing costs are charged to the income statement as an expense in the year in which they are incurred.

(v) Equity Instruments Ordinary shares are classified as equity. Dividends on ordinary shares are recognised in equity in the period in which they are declared.

When issued shares of the Company are repurchased, the consideration paid, including any attributable transaction costs is presented as a change in equity. Repurchased shares that have not been cancelled are classified as treasury shares and presented as a deduction from equity. No gain or loss is recognised in the income statement on the sale, re-issuance or

cancellation of treasury shares. When treasury shares are reissued by resale, the difference between the sales consideration and the consideration and the carrying amount of the treasury shares is shown as a movement in equity.

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