Registration No. 200301030845 (633265-K) - 28 - 2. Basis of Preparation (Cont’d) (a) Statement of compliance (Cont’d) Adoption of new and amended standards (Cont’d) The adoption of the new and amendments to MFRSs did not have any significant impact on the financial statements of the Group and of the Company. Standards issued but not yet effective The Group and the Company have not applied the following new MFRSs, new interpretation and amendments to MFRSs that have been issued by MASB but are not yet effective for the Group and for the Company: Effective dates for financial periods beginning on or after Amendments to MFRS 16 Covid-19-Related Rent Concessions beyond 30 June 2021 1 April 2021 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 MFRSs Annual Improvements to MFRS Standards 2018-2020 1 January 2022 MFRS 17 Insurance Contracts 1 January 2023 Amendments to MFRS 17 Insurance Contracts 1 January 2023 Amendments to MFRS 17 Initial Application of MFRS 17 and MFRS 9 - Comparative Information 1 January 2023 Amendments to MFRS 101 Classification of Liabilities as Current or Non-current 1 January 2023 Amendments to MFRS 101 Disclosure of Accounting Policies 1 January 2023 105 ANNUAL REPORT 2021 • DESTINI BERHAD
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