BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
83
Notes to the
Financial Statements
for the financial year ended 31December 2013
1.
Corporate information
Baker Technology Limited (the “Company”) is a limited liability company incorporated and domiciled in Singapore and is listed on
the Singapore Exchange Securities Trading Limited (SGX-ST).
The registered office and principal place of business of theCompany is at 10 Jalan Samulun, Singapore 629124.
The principal activity of the Company is investment holding. The principal activities of the subsidiaries are disclosed in Notes 13 to
the financial statements.
2.
Summaryof significantaccountingpolicies
2.1
Basis of preparation
The consolidatedfinancial statementsof theGroupand thebalance sheet and statement of changes inequityof theCompany
have been prepared in accordancewith Singapore Financial Reporting Standards (“FRS”).
The financial statements have been prepared on a historical cost basis, except as disclosed in the accounting policies below,
and are presented in SingaporeDollars (S$ or $).
The accounting policies adopted are consistent with those of the previous financial year except in the current financial year,
theGrouphas adopted all thenew and revised standards that are effective for annual periods beginningonor after 1 January
2013. The adoption of these standards did not have any effect on the financial performance or position of the Group and
theCompany.
2.2
Standards issuedbut not yet effective
TheGroup has not adopted the following standards and interpretations that have been issued but not yet effective:
Description
Effective for annual periods
beginningonor after
Revised FRS 27
Separate Financial Statements
1 January 2014
Revised FRS 28
Investments inAssociates and Joint Ventures
1 January 2014
FRS 110
Consolidated Financial Statements
1 January 2014
FRS 111
Joint Arrangements
1 January 2014
FRS 112
Disclosure of Interests inOther Entities
1 January 2014
Amendments to FRS 32
Offsetting Financial Assets and Financial Liabilities
1 January 2014
The directors expect that the adoption of the other standards abovewill have nomaterial impact on the financial statements
in the periodof initial application.
