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Notes To The Consolidated Financial Statements
(Expressed in Renminbi)
1
/ China Communications Services Corporation Limited
48 Possible impact of amendments, new standards and interpretations issued
but not yet effective for the annual accounting year ended 31 December 2011
Up to the date of issue of these financial statements, the IASB has issued a number of amendments and
Interpretations and one new standard which are not yet effective for the year ended 31 December 2011
and which have not been adopted in these financial statements. These include the following which may be
relevant to the Group:
Effective for
accounting period
beginning on or after
Amendments to IFRS 7, Financial instruments: Disclosures
– Transfers of Financial Assets
1 July 2011
Amendments to IAS 12,Income taxes – Deferred Tax: Recovery
of Underlying Assets
1 January 2012
Amendments to IAS 1, Presentation of financial statements
– Presentation of Items of Other Comprehensive Income
1 July 2012
IFRS 10, Consolidated Financial Statements
1 January 2013
IFRS 11, Joint Arrangements
1 January 2013
IFRS 12, Disclosure of Interests in Other Entities
1 January 2013
IFRS 13, Fair Value Measurement
1 January 2013
IAS 27, Separate Financial Statements (2011)
1 January 2013
IAS 28, Investments in Associates and Joint Ventures (2011)
1 January 2013
Revised IAS 19, Employee Benefits
1 January 2013
IFRS 9, Financial Instruments
1 January 2015
The Group is in the process of making an assessment of what the impact of these amendments, new
standards and new interpretations is expected to be in the period of initial application. So far it has concluded
that while the adoption of them may result in new or amended disclosures, it is unlikely to have a significant
impact on the Group’s results of operations and financial position.
49 Non-adjusting events after the reporting period
On 8 February 2012, the Company issued 398,570,040 H shares on the basis of 2 H rights shares for every 10
existing H shares at HK$3.19 per H rights share, and issued 755,766,360 domestic rights share on the basis
of 2 domestic rights shares for every 10 existing domestic shares at RMB2.59 per domestic rights share. The
total gross proceeds raised under the rights issue were RMB2,991 million, and the net proceeds raised under
the rights issue were RMB2,956 million, after deduction of issuing expenses amounted to approximately
RMB35 million. The rights issue increased RMB1,154 million of the Company’s share capital and RMB1,802
million of the Company’s share premium.
50 Immediate and ultimate controlling party
At 31 December 2011, the directors consider the immediate and ultimate controlling party of the Group to be
CTC, a stated-owned enterprise established in the PRC. CTC does not produce financial statements available
for public use.
51 Comparative figures
As a result of the adoption of amendments to IFRS 1, certain comparative figures have been adjusted to
conform to current year’s presentation. Further details of this development are disclosed in note 3.