ENRA Group Berhad | Annual Report 2022 170 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 40. SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD On 1 June 2022, the Company has made the first award of ESOS Options under the ESS (“1st Award”) with the first tranche options of 2,440,000 and second tranche of 3,660,000 at the exercise price of RM1.10. A total of 6,100,000 ESOS Options were allocated to the eligible directors and employees of the Company and its subsidiaries, of which 3,200,000 ESOS Options were allocated to the Directors of the Company. 41. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 41.1 New MFRSs adopted during the financial year The Group and the Company adopted the following Standards of the MFRS Framework that were issued by the Malaysian Accounting Standards Board (“MASB”) during the financial year: Title Effective Date Interest Rate Benchmark Reform - Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 Covid-19-Related Rent Concessions beyond 30 June 2021 1 April 2021 (Amendment to MFRS 16 Leases) (early adopted) Adoption of the above Standards did not have any material effect on the financial performance or position of the Group and of the Company. 41.2 NewMFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2022 Title Effective Date Annual Improvements to MFRS Standards 2018 - 2020 1 January 2022 Amendments to MFRS 3 Reference to the Conceptual Framework 1 January 2022 Amendments to MFRS 116 Property, Plant and Equipment - Proceeds before Intended Use 1 January 2022 Amendments to MFRS 137 Onerous Contracts - Cost of Fulfilling a Contract 1 January 2022 Amendments to MFRS 101 Classification of Liabilities as Current or Non-current 1 January 2023 MFRS 17 Insurance Contracts 1 January 2023 Amendments to MFRS 17 Insurance Contracts 1 January 2023 Amendments MFRS 17 Initial Application of MFRS 17 and MFRS 9 – Comparative Information 1 January 2023 Amendments to MFRS 101 Disclosure of Accounting Policies 1 January 2023 Amendments to MFRS 108 Definition of Accounting Estimates 1 January 2023 Amendments to MFRS 112 Deferred Tax related to Assets and Liabilities arising from a Single Transaction 1 January 2023 Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred The Group and the Company are in the process of assessing the impact of implementing these Standards and Amendments since the effects would only be observable for future financial years.
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