06 Feb 2013
Responses To SGX Queries
| Title | RESPONSES TO SGX QUERIES | |
| Subject Of Query | On Financial Statements | |
| Description | 1. Please elaborate on the reason(s) for the write-off of property, plant and equipment amounting to RMB584,000 in 3Q2013. The write-off of property, plant and equipment of approximately RMB 584,000 during 3Q2013 was made up of approximately 100 items, which was the result of the annual fixed assets review by the management team as of 31 December 2012. These items were found to be obsolete for our specialised manufacturing operations as of 31 December 2012 and thus written-off from our books. 2. With regard to the land repossessed by the Hebei Province, Linxi County's government, please elaborate on the accounting treatment for the dormitory, as well as whether the Company has or will be acquiring or constructing another dormitory for its workers. The dormitory has been demolished and all disposed assets had been written off and included under 'Other Credits - Gain on disposal of property, plant and equipment' during FY2012. All affected workers have found their own accommodation since then. Currently, the Group has no plans to acquire or construct another dormitory. |
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