My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 142 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 28 May 2021. 2. 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 5 to the financial statements. 3. 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. 3.1 During the current financial year, 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) Amendments to MFRS 3: Definition of a Business Amendments to MFRS 4: Extension of the Temporary Exemption from Applying MFRS 9 Amendments to MFRS 9, MFRS 139 and MFRS 7: Interest Rate Benchmark Reform Amendments to MFRS 101 and MFRS 108: Definition of Material Amendments to References to the Conceptual Framework in MFRS Standards The adoption of the above accounting standard and/or interpretation (including the consequential amendments, if any) did not have any material impact on the Group’s financial statements. NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020