23
MIGHT Directors’ Report And Audited Financial Statements 2020
3. PROPERTY, PLANT AND EQUIPMENT (continued)
(a)
All items of property, plant and equipment are initially measured at cost. After initial recognition, property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated to write down the cost of the assets to their residual values on a straight line basis over their estimated useful lives. The estimated useful life represents common life expectancy applied in the industry within the Group and the Company operate. The principal annual depreciation rates are as follows:
Computer equipment Fixtures and fittings
20% - 50% 10% - 20% 10% - 20% 10% - 20%
O ce equipment O ce renovation Motor vehicles
20%
4. INTANGIBLE ASSETS
AMORTISATION CHARGE FOR THE FINANCIAL YEAR RM
BALANCE AS AT 31 DECEMBER RM
BALANCE AS AT 1 JANUARY RM
Computer software Carrying amount 2020 GROUP AND COMPANY Computer software Carrying amount 2019
11,667
(11,667)
-
46,667
(35,000)
11,667
Intangible assets are initially measured at cost. After initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses, if any.
Computer software that does not form an integral part of the related hardware is treated as intangible assets with finite useful lives and is amortised over its estimated useful life of five (5) years. The estimated useful life represents common life expectancy applied in the industry within the Group and the Company operate.
5. INVESTMENTS IN SUBSIDIARIES
COMPANY
2020 RM 4,000,000 4,000,000 2019 RM
Unquoted equity shares, at cost
Less: Impairment losses
(3,000,000)
(3,000,000)
1,000,000 1,000,000
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