Annual Report 2022 107 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Notes to the Financial Statements for the Financial Year Ended 31 March 2022 (Cont’d) 3. BASIS OF PREPARATION (CONT’D) 3.1 BASIS OF ACCOUNTING (CONT’D) (b) The Group and the Company has not applied in advance the following accounting standards and/or interpretations (including the consequential amendments, if any) that have been issued by the Malaysian Accounting Standards Board (“MASB”) but are not yet effective for the current financial year:- MFRSs and/or IC Interpretations (Including The Consequential Amendments) Effective Date MFRS 17 Insurance Contracts 1 January 2023 Amendments to MFRS 3: Reference to the Conceptual Framework 1 January 2022 Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred Amendments to MFRS 17: Insurance Contracts 1 January 2023 Amendment to MFRS 17: Initial Application of MFRS 17 and MFRS 9 – Comparative Information 1 January 2023 Amendment to MFRS 101: Classification of Liabilities as Current or Non-current 1 January 2023 Amendments to MFRS 101: Disclosure of Accounting Policies 1 January 2023 Amendments to MFRS 108: Definition of Accounting Estimates 1 January 2023 Amendments to MFRS 112: Deferred Tax related to Assets and Liabilities arising from a Single Transaction 1 January 2023 Amendments to MFRS 116: Property, Plant and Equipment – Proceeds before Intended Use 1 January 2022 Amendments to MFRS 137: Onerous Contracts – Cost of Fulfilling a Contract 1 January 2022 Annual Improvements to MFRS Standards 2018 – 2020 1 January 2022 The adoption of the above accounting standards and/or interpretations (including the consequential amendments, if any) is expected to have no material impact on the financial statements of the Group and the Company upon their initial application.
RkJQdWJsaXNoZXIy NDgzMzc=