Note 7 - Property, Plant and Equipment

9 Months Ended

Feb. 28, 2013

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment as of the balance sheet dates are summarized as follows:

	February 28, 2013		May 31, 2012
At cost:
Computer and software	$	558,576	$	553,680
Telecommunication equipment		202,103		4,895,607
Furniture, fixtures and equipment		4,943,415		213,144
Motor vehicles		34,868		32,516
Leasehold improvement		123,855		33,912
		5,862,817		5,728,859

Less: Accumulated depreciation		(3,870,506)		(3,361,539)
Property, plant and equipment, net	$	1,992,311	$	2,367,320

Depreciation expense for the nine months ended February 28, 2013 and February 29, 2012 amounted to $484,742 and $484,577, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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