MKH Berhad 105 2. BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS (CONT’D) (a) Statement of compliance (Cont’d) Adoption of Amendments to MFRSs I n the current financial year, the Group and the Company have adopted all the amendments to MFRSs issued by the Malaysian Accounting Standards Board (“MASB”) that are relevant to their operations and effective for annual financial periods beginning on or after 1 October 2020 as follows: MFRSs Amendments to References to the Conceptual Framework in MFRS Standards Amendments to MFRS 3 Definition of a Business Amendments to MFRS 9, MFRS 139 and MFRS 7 Interest Rate Benchmark Reform Amendments to MFRS 16 COVID-19 Related Rent Concessions Amendments to MFRS 101 and MFRS 108 Definition of Material T he adoption of these amendments to MFRSs did not result in significant changes in the accounting policies of the Group and of the Company, and has no significant effect on the financial performance or position of the Group and of the Company. Standards and Amendments in Issue But Not Yet Effective A t the date of authorisation for issue of these financial statements, the new and amendments to MFRSs which were in issue but not yet effective and not early adopted by the Group and by the Company are as listed below: MFRS 17 Insurance Contracts5 Amendments to MFRS 3 Reference to the Conceptual Framework3 Amendments to MFRS 4 Extension of Temporary Exemption from Applying MFRS 94 Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16 Interest Rate Benchmark Reform - Phase 21 Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture6 Amendments to MFRS 16 COVID-19 Related Rent Concessions beyond 30 June 20212 Amendments to MFRS 17 Insurance Contracts5 Amendments to MFRS 101 Disclosure of Accounting Policies5 Amendments to MFRS 101 Classification of Liabilities as Current or Non-current5 Amendments to MFRS 108 Definition of Accounting Estimates5 Amendments to MFRS 112 Deferred Tax related to Assets and Liabilities arising from a Single Transaction5 Amendments to MFRS 116 Property, Plant and Equipment - Proceeds before Intended Use3 Amendments to MFRS 137 Onerous Contracts - Cost of Fulfilling a Contract3 Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
RkJQdWJsaXNoZXIy NDgzMzc=