annual report 2014
I
63
1.
CORPORATE INFORMATION
The Company (
喜得狼控股有限公司
) is incorporated in Bermuda under the Bermuda Companies Act as an exempt
company limited by shares and registered as a foreign company in Malaysia under the Malaysian Companies Act,
1965 and is listed on the Main Market of Bursa Malaysia Securities Berhad.
The registered office of the Company in Bermuda is located at Clarendon House, 2, Church Street, Hamilton HM11,
Bermuda. The registered office of the Company in Malaysia is located at Level 18, The Gardens North Tower, Mid
Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur.
The principal places of business of the Company are located at XiDeLang Industry Park, Neikeng Town, Jinjiang
City, Fujian Province, the Peoples’ Republic of China (“PRC”).
The ultimate holding company of the Company is HongPeng International Holdings Limited, which is incorporated
in British Virgin Islands.
The financial statements are presented in Renminbi (“RMB”). All financial information presented in RMB has been
rounded to the nearest thousand, unless otherwise stated. The functional currency of the Company and its subsidiaries
in PRC are RMB.
The financial statements were authorised for issue in accordance with a resolution by the Board of Directors on 3
March 2015.
The English names of certain companies/parties referred to in the financial statements represent unofficial translation
of their registered Chinese names by management and these English names have not been legally adopted by these
entities.
2.
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding. The principal activities of the subsidiaries are set out in
Note 9 to the financial statements. There have been no significant changes in the nature of these activities during
the financial year.
3.
BASIS OF PREPARATION
The financial statements of the Group and of the Company as set out on pages 55 to 103 have been prepared in
accordance with Malaysian Financial Reporting Standards (“MFRSs”) and International Financial Reporting Standards
(“IFRSs”). However, Note 31 to the financial statements set out on page 104 has been prepared in accordance with
Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of
Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute
of Accountants (“MIA Guidance”) and the directive of Bursa Malaysia Securities Berhad.
4.
SIGNIFICANT ACCOUNTING POLICIES
4.1 Basis of accounting
The financial statements of the Group and of the Company have been prepared under the historical cost
convention except as otherwise stated in the financial statements.
The preparation of financial statements in conformity with MFRSs and IFRSs requires the Directors to make
estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and
disclosure of contingent assets and contingent liabilities. In addition, the Directors are also required to exercise
their judgement in the process of applying the accounting policies. The areas involving such judgements,
estimates and assumptions are disclosed in Note 6 to the financial statements. Although these estimates and
assumptions are based on the Directors’ best knowledge of events and actions, actual results could differ
from those estimates.
Notes
to the Financial Statements
31 December 2014
