SCC Holdings Berhad Annual Report 2018

SCC Holdings Berhad | Annual Report 2018 60. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2018 (CONT’D) 3. Significant Accounting Policies (cont’d) (o) Goods and Services Tax (“GST”) Revenues, expenses and assets are recognised net of the amount of GST except: • where the GST incurred in a purchase of assets or services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable; and • receivables and payables are recognised inclusive of GST. The net amount of GST being the difference between output and input of GST, payable to or receivables from the authority at the reporting date, is included in other payables or other receivables in the statements of financial position. (p) Operating segments An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. Operating segment results are reviewed regularly by the chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance, and for which discrete financial information is available. (q) Contingent liabilities Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is not recognised in the statements of financial position and is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence of one or more future events, are also disclosed as contingent liabilities unless the probability of outflow of economic benefits is remote. 4. Property, Plant and Equipment Office Freehold equipment, land and furniture Motor buildings and fittings Machinery vehicles Renovation Total Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2018 Cost At 1 January 3,518 1,893 1,090 1,900 1,002 9,403 Additions - 191 37 382 629 1,239 Disposals - (63) - (271) - (334) Written off - (8) - - - (8) At 31 December 3,518 2,013 1,127 2,011 1,631 10,300 Accumulated depreciation At 1 January 810 1,298 669 1,386 344 4,507 Charge for the financial year 71 105 82 218 111 587 Disposals - (62) - (271) - (333) Written off - (3) - - - (3) At 31 December 881 1,338 751 1,333 455 4,758 Carrying amount At 31 December 2,637 675 376 678 1,176 5,542