Asia Media Annual Report 2018

62 | P a g e ASIA MEDIA GROUP BERHAD (Incorporated in Malaysia) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 1. GENERAL INFORMATION The principal activity of the Company is investment holding. The principal activities of the subsidiary companies are as stated in Note 6 to the financial statements. The Company is a public company limited by shares, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. Prior to 24 October 2019, the registered office of the Company is located at Level 8, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan. As of reporting date, the new registered office of the Company is located at No. 1 & 1A, 2 nd Floor (Room 2), Jalan Ipoh Kecil, 50350 Kuala Lumpur, Malaysia. Prior to 30 September 2019, the principal place of business of the Company is located at No. 35-1, Jalan Bandar 16, Pusat Bandar Puchong, Selangor Darul Ehsan. As of reporting date, the new principal place of business of the Company is located at Level 15, Unit 15-2, Menara Choy Fook On, Jalan Yong Shook Lin, Seksyen 7, 46050 Petaling Jaya, Selangor. The financial statements are expressed in Ringgit Malaysia. The financial statements of the Group and of the Company have been authorised for issue by the Board of Directors in accordance with a resolution of the Directors on 25 October 2019. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The financial statements of the Group and of the Company have been prepared in accordance with the Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act, 2016 in Malaysia. The financial statements have been prepared under the historical convention and modified to include other basis of valuation as disclosed in other sections under significant accounting policies in Note 2.3 to the financial statements. The assumption that the Group and the Company are going concerns which contemplates the realisation of assets and settlement of liabilities in the normal course of business. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 2.4 to the financial statements.