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EXCEL - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdFinancial_Report.xls
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EX-31.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit31-1.htm
EX-32.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit32-1.htm
EX-31.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit31-2.htm
10-K - ANNUAL REPORT - Grand China Energy Group Ltdform10k.htm
EX-32.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit32-2.htm
v2.4.0.6
AMOUNTS DUE TO A RELATED PARTY
12 Months Ended
Dec. 31, 2011
AMOUNTS DUE TO A RELATED PARTY [Text Block]
11

AMOUNTS DUE TO A RELATED PARTY


    2011     2010  
          (Restated)  
         
             
Amounts due to a related party   3,019,409     3,643,529  

The amounts are due to the Executive Chairman and Chief Executive Officer of the Company, Mr. Longwen Lin, which are unsecured, non-interest bearing and no specific terms of repayment. During the year ended December 31, 2011, the Company recorded imputed interest on the amounts due to a related party at a market rate of 3.3% (estimated interest benefit contributed by the related party) thereby leading to the recognition of interest expense of approximately $100,000 (2010: $nil). A corresponding amount was recorded as contributed surplus.