ENRA Group Berhad Annual Report 2019

79 ENRA GROUP BERHAD ∞ Annual Report 2019 page 1. CORPORATE INFORMATION ENRA Group Berhad (“the Company”) is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office and principal place of business of the Company is located at D2-U3-10, Block D2, Solaris Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala Lumpur. The consolidated financial statements for the financial year ended 31 March 2019 comprise the Company and its subsidiaries and the interests of the Group in an associate and a joint venture. These financial statements are presented in Ringgit Malaysia (“RM”), which is also the functional currency of the Company. All financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated. The financial statements were authorised for issue in accordance with a resolution by the Board of Directors on 25 June 2019. 2. PRINCIPAL ACTIVITIES The Company is principally engaged in property investment, investment holding, investment services activities and sale of completed properties. The principal activities of the subsidiaries are set out in Note 7 to the financial statements. There have been no significant changes in the nature of these activities during the financial year except for those disclosed in Note 7 to the financial statements. 3. BASIS OF PREPARATION The financial statements of the Group and of the Company set out on pages 69 to 161 have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards (“IFRSs”) and the provisions of the Companies Act 2016 in Malaysia. These are the first financial statements of the Group and of the Company prepared in accordance with MFRSs and IFRSs and MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards has been applied. In the previous financial years, the financial statements of the Group and of the Company were prepared in accordance with Financial Reporting Standards (“FRSs”) in Malaysia. The Group and the Company have consistently applied the same accounting policies in its opening MFRS statements of financial position as at 1 April 2017 and throughout all financial years presented, as if these policies had always been in effect. The Group and the Company has elected to early adopt MFRS 16 Leases which is mandatory for financial periods beginning on or after 1 January 2019. Comparative figures for the financial year ended 2018 in these financial statements have been restated to give effect to these changes, and Note 45 to the financial statements discloses the new MFRSs, amendments to MFRSs adopted during the financial year and the impact of the transition to MFRS on the Group’s and the Company’s reported financial position, financial performance and cash flows for the financial year then ended. The financial statements of the Group and of the Company have been prepared under the historical cost convention except as otherwise stated in the financial statements. Notes to the Financial Statements 31 March 2019