Overview
Our
Business
Strategic
Review
Corporate
Governance
Financial
Statements
Other
Information
99
Maxis Berhad
Annual Report 2014
Notes to the
Financial Statements
31 December 2014
3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(b) Foreign currencies (continued)
(iv) Closing rates
The principal closing rates used in translation of foreign currency amounts were as follows:
Foreign currencies
2014
RM
2013
RM
1 Singapore Dollar (“SGD”)
2.65
2.59
1 Special Drawing Rights (“SDR”)
(1)
5.08
5.05
1 United States Dollar (“USD”)
3.50
3.28
Note:
(1)
Represents the closing international accounting settlement rate with international carriers.
(c) Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Cost includes expenditure
that is directly attributable to the acquisition of property, plant and equipment. The cost of certain property, plant and equipment
items include the costs of dismantling and removing the item and restoring the sites on which these items are located. These costs
are due to obligations incurred either when the items were installed or as a consequence of having used these items during a
particular period.
Certain telecommunications assets are stated at the amount of cash or cash equivalent that would have to be paid if the same or
an equivalent asset was acquired. Included in telecommunications equipment are purchased computer software costs which are
integral to such equipment.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured
reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the statement
of profit or loss during the financial year in which they are incurred.
Freehold land is not depreciated as it has an indefinite life.
Leasehold lands and buildings held for own use are classified as operating or finance leases in the same way as leases of other
assets.
