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Notes To The Financial Statements

VITROX CORPORATION BERHAD

[649966-K]

For The Financial Year Ended 31 December 2008

1.

GENERAL INFORMATION

The Company is a public company limited by shares, incorporated and domiciled in Malaysia. The Company is listed on the

MESDAQ Market of Bursa Malaysia Securities Berhad.

The principal activities of the Company are those of investment holding and development of 3D Vision Inspection System. The

principal activities of its subsidiaries are disclosed in Note 8 to the financial statements.

The registered office of the Company is located at 57-1, Persiaran Bayan Indah, Bayan Bay, Sungai Nibong, 11900 Penang and

its principal place of business is located at Plot 85A, Lintang Bayan Lepas 11, Bayan Lepas Industrial Park Phase IV, 11900 Bayan

Lepas, Penang.

The consolidated financial statements set out on pages 43 to 46 together with the notes thereto cover the Company and its

subsidiaries (“the Group”). The separate financial statements of the Company set out on pages 47 to 50 together with the notes

thereto cover the Company solely.

The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors

dated 30 March 2009.

2.

SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of Preparation of Financial Statements

The financial statements of the Group and the Company are prepared under the historical cost convention, modified to

include other bases of measurement as disclosed in other sections of the significant accounting policies, and in accordance

with Financial Reporting Standards (“FRSs”) and the Companies Act 1965 in Malaysia.

The financial statements are presented in Ringgit Malaysia (RM).

On 1 January 2008, the Group and the Company adopted the following revised FRSs which are relevant to their operations

and effective for financial periods beginning on or after 1 July 2007:-

FRS 107 Cash Flow Statements

FRS 112 Income Taxes

FRS 118 Revenue

FRS 134 Interim Financial Reporting

FRS 137 Provisions, Contingent Liabilities and Contingent Assets

The adoption of these revised FRSs did not result in any significant changes in the accounting policies of the Group and

the Company.