NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2014
1.
CORPORATE INFORMATION
General
The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed
on the Main Market of Bursa Malaysia Securities Berhad.
The registered office of the Company is located at 35, 1st Floor, Jalan Kelisa Emas 1, Taman Kelisa Emas,
13700 Seberang Jaya, Penang.
The principal place of business of the Company is located at Plot 18 & 19, Technoplex, Medan Bayan
Lepas, Taman Perindustrian Bayan Lepas, Phase IV, 11900 Penang.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution
of the directors on 23 April 2015.
Principal Activities
The principal activities of the Company are those of investment holding and provision of management
services. The principal activities of the subsidiaries are disclosed in Note 5 to the financial statements.
There have been no significant changes in the nature of these activities during the financial year.
2.
BASIS OF PREPARATION
2.1
Statement of Compliance
The financial statements of the Group and of the Company have been prepared in accordance
with applicable Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting
Standards (“IFRSs”) and the requirements of the Companies Act, 1965 in Malaysia.
2.2
Basis of Measurement
The financial statements of the Group and of the Company are prepared under the historical cost
convention, except for certain financial instruments that are measured at fair values at the end of each
reporting period as indicated in the summary of significant accounting policies.
Historical cost is generally based on the fair value of the consideration given in exchange for goods
and services.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is
based on the presumption that the transaction to sell the asset or transfer the liability takes place either
in the principal market for the asset or liability, or in the absence of a principal market, in the most
advantageous market for the asset or liability. The principal or the most advantageous market must
be accessible to by the Group and the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants
would use when pricing the asset or liability, assuming that market participants act in their economic
best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to
generate economic benefits by using the asset in its highest and best use or by selling it to another
market participant that would use the asset in its highest and best use.
Pentamaster Corporation Berhad
(572307-U)
•
Annual Report 2014
44
