ENRA Group Berhad Annual Report 2021

FINANCIAL STATEMENTS & OTHERS ENRA Group Berhad | Annual Report 2021 108 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2021 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. On 12 May 2021, the registered office and principal place of business of the Company have been changed from D2-U3-10, Block D2, Solaris Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala Lumpur to D3-U6-15, Block D3, Solaris Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala Lumpur. The consolidated financial statements for the financial year ended 31 March 2021 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 24 June 2021. 2. PRINCIPAL ACTIVITIES The Company is principally engaged in 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 97 to 186 have been prepared in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards 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 MFRSs during the financial year. The new MFRSs and Amendments to MFRSs adopted during the financial year are disclosed in Note 42.1 to the financial statements. The Group has also early adopted Amendment to MFRS 16 Covid-19-Related Rent Concessions in the current financial year and elected to apply the practical expedient to all rent concessions relating to leases with similar characteristics and similar circumstances. 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.