NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 1. GENERAL INFORMATION The Company is a public limited liability company, incorporated and domiciled in Malaysia. The registered office and principal place of business are as follows:- Registered office : Wisma Matrix 57, Jalan Tun Dr. Ismail 70200 Seremban Negeri Sembilan Darul Khusus Principal place of business : Wisma Matrix 57, Jalan Tun Dr. Ismail 70200 Seremban Negeri Sembilan Darul Khusus The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors dated 21 June 2023. 2. PRINCIPAL ACTIVITIES The Company is principally engaged in investment holding activities. The principal activities of the subsidiaries are set out in Note 5 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. 3. BASIS OF PREPARATION The financial statements of the Group are prepared under the historical cost convention and modified to include other bases of valuation as disclosed in other sections under significant accounting policies, and in compliance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. 3.1 During the current financial year, the Group has adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):- MFRSs and/or IC Interpretations (Including The Consequential Amendments) Amendments to MFRS 3: Reference to the Conceptual Framework Amendments to MFRS 116: Property, Plant and Equipment – Proceeds before Intended Use Amendments to MFRS 137: Onerous Contracts – Cost of Fulfilling a Contract Annual Improvements to MFRS Standards 2018 – 2020 The adoption of the above accounting standards and/or interpretations (including the consequential amendments, if any) did not have any material impact on the Group’s financial statements. INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 151
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