152 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 1. CORPORATE INFORMATION The Bank is principally engaged in the investment banking business, provision of stockbroking and related financial services. The Bank 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 Bank is located at Level 17, Kenanga Tower, 237, Jalan Tun Razak, 50400 Kuala Lumpur, Wilayah Persekutuan. The principal activities of the subsidiaries and associates are as described in Note 13 and Note 14, respectively. There have been no significant changes to the nature of the principal activities except for Kenanga Trustees Berhad (formerly known as Kenanga Funds Berhad) during the financial year. The financial statements have been approved and authorised for issue in accordance with a resolution of the Board of Directors on 7 March 2024. 2. CHANGES IN ACCOUNTING POLICIES 2.1 New and amended Malaysian Financial Reporting Standards ("MFRSs") adopted The accounting policies adopted are consistent with those of the previous financial year except for the adoption of the following new and amended MFRSs, which became effective for the Group and the Bank during the current financial year: - MFRS 17: Insurance Contracts - Classification of Liabilities as Current or Non-current (Amendments to MFRS 101 Presentation of Financial Statements) - Disclosure of Accounting Policies (Amendments to MFRS 101 Presentation of Financial Statements ) - Definition of Accounting Estimates (Amendments to MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors ) - Deferred Tax Related To Assets and Liabilities Arising From a Single Transaction (Amendments to MFRS 112 Income Taxes ) - Extension of The Temporary Exemption from Applying MFRS 9 (Amendments to MFRS 4 Insurance Contracts ) - Initial Application of MFRS 17 and MFRS 9 - Comparative Information (Amendments to MFRS 17 Insurance Contracts) - International Tax Reform - Pillar Two Model Rules (Amendments to MFRS 112 Income Taxes )
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