Basic HTML Version
228
Gamuda Berhad (29579-T) • Annual Report 2012
38. Provision for liabilities
Provision for liabilities of the Group is analysed as follows:
2012
2011
RM’000
RM’000
Current
21,177
7,385
Non-current
12,931
3,465
34,108
10,850
Provision for
Provision
development
for club
costs membership
Note (a)
Note (b)
Total
Group
RM’000
RM’000
RM’000
At 1 August 2011
9,330
1,520
10,850
Provision during the year
19,984
10,602
30,586
Utilisation during the year
(1,149)
(2,224)
(3,373)
Unused amounts reversed
(3,955)
-
(3,955)
At 31 July 2012
24,210
9,898
34,108
At 1 August 2010
10,285
-
10,285
Provision during the year
1,284
1,984
3,268
Utilisation during the year
(542)
(464)
(1,006)
Unused amounts reversed
(1,697)
-
(1,697)
At 31 July 2011
9,330
1,520
10,850
(a)
Provision for development costs
Provision for development costs is in respect of development projects undertaken by its subsidiaries and a
jointly controlled entity as they had a present obligation as a result of a past event and it was probable that an
outflow of resources embodying economic benefits will be required to settle the obligation.
During the financial year, based on the earlier estimation and development experience, management concluded
that the provision for development costs exceeded the amount necessary to cover the development costs.
Accordingly, RM3,955,000 (2011: RM1,697,000) of the provision for development costs has been reversed.
(b)
Provision for club memberships
Certain subsidiaries of the Group are obliged to offer club membership via incentive schemes offered.
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012