Chemical Company of Malaysia Berhad Annual Report 2019

Amounts in RM’000 unless otherwise stated Chemical Company of Malaysia Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. The address of the principal place of business and registered office of the Company is as follows: Principal place of business and registered office 13 th Floor Menara PNB 201-A, Jalan Tun Razak 50400 Kuala Lumpur The consolidated financial statements of the Company as at and for the financial year ended 31 December 2019 comprise the Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the Group’s interest in an associate. The financial statements of the Company as at and for the financial year ended 31 December 2019 do not include other entities. Chemical Company of Malaysia Berhad is an investment holding andmanagement company with subsidiaries engaged in the manufacturing and marketing of chemicals and polymers products and services as stated in Note 7 to the financial statements. The holding company is Permodalan Nasional Berhad (“PNB”), a company incorporated in Malaysia. These financial statements were authorised for issue by the Board of Directors on 12 March 2020. 1. Basis of preparation (a) Statement of compliance The financial statements of the Group and the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards (“IFRSs”) and the requirements of the Companies Act 2016 in Malaysia. The following are accounting standards, amendments and interpretations that have been issued by the Malaysian Accounting Standards Board (“MASB”) but have not been adopted by the Group and the Company: MFRSs, interpretations and amendments effective for annual periods beginning on or after 1 January 2020 • Amendments to MFRS 3, Business Combinations – Definition of a Business • Amendments to MFRS 101, Presentation of Financial Statements and MFRS 108 , Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Material • Amendments to MFRS 9, Financial Instruments , MFRS 139, Financial Instruments: Recognition and Measurement and MFRS 7, Financial Instruments: Disclosures – Interest Rate Benchmark Reform MFRSs, interpretations and amendments effective for annual periods beginning on or after 1 January 2021 • MFRS 17, Insurance Contracts | NOTES TO THE FINANCIAL STATEMENTS | for the Year Ended 31 December 2019 130 CHEMICAL COMPANY OF MALAYSIA BERHAD