Registration No. 200301030845 (633265-K) - 27 - DESTINI BERHAD (Incorporated in Malaysia) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 1. Corporate Information The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of the Bursa Malaysia Securities Berhad. The registered office and the principal place of business of the Company is located at No. 10, Jalan Jurunilai U1/20, Hicom Glenmarie Industrial Park, 40148 Shah Alam, Selangor Darul Ehsan. The principal activities of the Company are those of investment holding and provision of management services. The principal activities of its subsidiaries are disclosed in Note 6. 2. Basis of Preparation (a) Statement of compliance The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act, 2016 in Malaysia. The financial statements of the Group and of the Company have been prepared under the historical cost convention, unless otherwise indicated in the significant accounting policies below. Adoption of new and amended standards During the financial year, the Group and the Company have adopted the following new and amendments to MFRSs, interpretations issued by the Malaysian Accounting Standards Board (“MASB”) that are mandatory for current financial year: Amendments to MFRS 16 Covid-19-Related Rent Concessions Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4, and MFRS 16 Interest Rate Benchmark Reform - Phase 2 IFRIC Agenda Decision of MFRS123 Borrowing Costs NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 104 DESTINI BERHAD • ANNUAL REPORT 2021
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