text: Under the provisions of SFAS No. 133, the method that the Company will use to assess effectiveness of a hedge, as well as the measure m e n t 
  a p p roach for determining the ineffectiveness of a hedge, must be established at the inception of a hedge. The Company formally documents all 
  relationships between hedging instruments and hedged items as well as its risk management objective and strategy for entering into the 
  transaction. This process includes linking derivatives designated as fair value or cash flow hedges to specific assets, liabilities or firm commitments 
  on forecasted transactions. This process is repeated on a periodic basis. If at any time the Company determines a hedge is no longer eff e c t i v e , 
  hedge accounting is immediately discontinued and the derivative is marked to market with any gain or loss re c o rded in earnings. 
  
  The Company adopted the provisions of SFAS No. 133 on 1 January 2001 and this had no impact on the Company’s consolidated financial 
  statements as the Company does not have any derivative financial instruments. Future changes in the fair value for any remaining trading 
  securities will be re c o rded through earnings. Changes in fair value of available for sale securities will be re c o rded in other comprehensive income. 