ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 78 1. CORPORATE INFORMATION ENRA Group 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 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 2020 comprise the Company and its subsidiaries and the interests of the Group in a joint venture and an associate. 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 27 July 2020. 2. PRINCIPAL ACTIVITIES The Company is principally engaged in property investment, investment holding, management 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 147 have been prepared in accordance with MFRSs, IFRSs and the provisions of the Companies Act 2016 in Malaysia. The accounting policies adopted are consistent with those of the previous financial year except for the effects of adoption of new MFRS during the financial year. The new MFRSs and Amendments to MFRSs adopted during the financial year are disclosed in Note 44.1 to the financial statements. In the previous financial year, the Group and the Company has elected to early adopt MFRS 16 Leases which is mandatory for financial years beginning on or after 1 January 2019. The financial statements of the Group and 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 2020