My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 113 FINANCIAL STATEMENTS 1. GENERAL INFORMATION The Company is a public limited liability company, incorporated and domiciled in Malaysia. The registered office and principal place of business are as follows:- Registered office : 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, 46200 Petaling Jaya, Selangor Darul Ehsan. Principal place of business : Level 43A, MYEG Tower, No. 8 Jalan Damansara, Empire City, PJU 8, 47820 Petaling Jaya, Selangor Darul Ehsan. The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors dated 29 June 2020. 2. CHANGE OF FINANCIAL YEAR END The Company changed its financial year end from 30 September to 31 December during the current financial period. 3. PRINCIPAL ACTIVITIES The Company is principally engaged in the businesses of development and implementation of the Electronic Government Services project and the provision of other related services for the Electronic Government Services project, as well as investment holding. The principal activities of the subsidiaries are set out in Note 6 to the financial statements. 4. BASIS OF PREPARATION The financial statements of the Group are prepared under the historical cost convention and modified to include other bases of valuation as disclosed in other sections under significant accounting policies, and in compliance with Malaysian Financial Reporting Standards (“ MFRSs ”), International Financial Reporting Standards and the requirements of Companies Act 2016 in Malaysia. 4.1 During the current financial period, the Group has adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):- MFRSs and/or IC Interpretations (Including The Consequential Amendments) MFRS 9 Financial Instruments (IFRS 9 as issued by IASB in July 2014) MFRS 15 Revenue from Contracts with Customers IC Interpretation 22 Foreign Currency Transactions and Advance Consideration Amendments to MFRS 2: Classification and Measurement of Share-based Payment Transactions Amendments to MFRS 4: Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts Amendments to MFRS 15: Effective Date of MFRS 15 Amendments to MFRS 15: Clarifications to MFRS 15 ‘Revenue from Contracts with Customers’ Amendments to MFRS 140 – Transfers of Investment Property Annual Improvements to MFRS Standards 2014 – 2016 Cycles • Amendments to MFRS 1: Deletion of Short-term Exemptions for First-time Adopters • Amendments to MFRS 128: Measuring an Associate or Joint Venture at Fair Value MFRS 16 Leases NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019