SEO Version
36
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Notes to the
Financial Statements
31 December 2012
1.
Corporate information
Far East Group Limited (the Company) is a limited liability company domiciled and incorporated in Singapore.
The Company is listed on the Catalist of Singapore Exchange Securities Trading Limited (SGX-ST). The
address of the Company’s registered office and principal place of business is 112 Lavender Street, #04-00 Far
East Refrigeration Building, Singapore 338728.
The Company’s holding and ultimate holding company is Universal Pte. Ltd., incorporated in Singapore.
The principal activities of the Company consist of trading of refrigeration parts, servicing of cold rooms,
construction and installation of commercial and industrial cold rooms and all other incidental business of
refrigeration.
The principal activities of the subsidiary companies are shown in Note 5.
2.
Summary of significant accounting policies
2.1 Basis of preparation
The consolidated financial statements of the Group and the balance sheet and statement of changes in equity
of the Company have been prepared in accordance with Singapore Financial Reporting Standards (FRS).
The financial statements have been prepared on a historical cost basis except as disclosed in the accounting
policies below.
The financial statements are presented in Singapore Dollars (SGD or $).
2.2 Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the current
financial year, the Group has adopted all the new and revised standards and Interpretations of FRS (INT FRS)
that are effective for annual periods beginning on or after 1 January 2012. The adoption of these standards
and interpretations did not have any effect on the financial performance or position of the Group and the
Company.
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