1. CORPORATE INFORMATION The Company 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 of the Company is located at Level 17, Menara UEM, Tower 1, Avenue 7, The Horizon, Bangsar South City, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur. The Company regards UEM Group and Khazanah Nasional Berhad, both incorporated in Malaysia, as its immediate and ultimate holding companies respectively. Related companies in these financial statements refer to member companies within the UEM Group of companies. The principal activity of the Company are investment holding. The principal activities of the subsidiaries, joint ventures and associates are described in Note 45. There have been no significant changes in the nature of the principal activities during the financial year. The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors on 19 March 2025. 2. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION The financial statements of the Group and of the Company have been prepared in accordance with MFRS Accounting Standards, IFRS Accounting Standards and the requirements of the Companies Act 2016 in Malaysia. The financial statements of the Group and of the Company have been prepared on a historical cost basis except as disclosed in the accounting policies below. The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest thousand (RM’000) except when otherwise indicated. 2.2 CHANGES IN ACCOUNTING POLICIES The accounting policies adopted are consistent with those of the previous financial year, except as follows: On 1 January 2024, the Group and the Company adopted the following amendments to MFRS mandatory for financial period beginning on or after 1 January 2024: Effective for annual period beginning on or after Amendments to MFRS 101: Non-current Liabilities with Covenants 1 January 2024 Amendments to MFRS 16: Lease liability in a Sale and Leaseback 1 January 2024 Amendments to MFRS 107 and MFRS 7: Disclosures of Supplier Finance Arrangements 1 January 2024 Amendments to MFRS 107 and MFRS 7: Disclosures of Supplier Finance Arrangements The amendments to MFRS 7 Statement of Cash Flows and MFRS 7 Financial Instruments: Disclosures clarify the characteristics of supplier finance arrangements and require additional disclosure of such arrangements. The disclosure requirements in the amendments are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. As a result of implementing the amendments, the Group has provided additional disclosures about its supplier finance arrangement. Please refer to Note 36(a) and Note 41(b). 285 FINANCIAL STATEMENTS Notes to the Financial Statements For the year ended 31 December 2024
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