ENRA Group Berhad Annual Report 2018

E N R A G R O U P B E R H A D ( 2 3 6 8 0 0 - T ) 134 NOTES TO THE FINANCIAL STATEMENTS 31 March 2018 cont’d 45. ADOPTION OF NEW FRSs AND AMENDMENTS TO FRSs (Cont’d) 45.3 New MFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2018 (Cont’d) In adopting the new MFRS Framework, the Group and the Company would be required to apply the specific transition requirements in MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards . In addition to the adoption of the new MFRS Framework, the following new MFRSs and amendments to the MFRSs are effective for annual periods beginning on or after 1 January 2018: (Cont’d) Title Effective Date Amendments to MFRS 119 Plan Amendment, Curtailment or Settlement 1 January 2019 Amendments to References to the Conceptual Framework in MFRS Standards 1 January 2020 MFRS 17 Insurance Contracts 1 January 2021 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 does not expect the adoption of the above Standards to have a significant impact on the financial statements, except for MFRS 9, MFRS 15 and MFRS 16. The Group and the Company is in the process of assessing the impact of implementing these Standards and Amendments, since the effects would only be observable in future financial years.