SECTION 4: FINANCIAL PERFORMANCE 168 Registration No: 199301009307 (264044-M) 30 2. BASIS OF PREPARATION (CONT’D) 2.5 Standards issued but not yet effective The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s and the Company’s financial statements are disclosed below. The Group and the Company intend to adopt these new and amended standards and interpretations, if applicable, when they become effective in respective financial period. Effective for financial period beginning on or after 1 January 2024 • Amendments to MFRS 16 Leases - Lease Liability in a Sale and Leaseback • Amendments to MFRS 101 Presentation of Financial Statements - Non-Current Liabilities with Covenants • Amendments to MFRS 101 Presentation of Financial Statements - Classification of Liabilities as Current or Non-Current • Amendments to MFRS 107 Statement of Cash Flows and MFRS 7 Financial Instruments – Disclosure - Supplier Finance Arrangements Effective for financial period beginning on or after 1 January 2025 • Amendments to MFRS 121 The Effects of Changes in Foreign Exchange Rates - Lack of Exchangeability Deferred to a date to be determined by the MASB • Amendments to MFRS 10 Consolidated Financial Statements and MFRS 128 Investments in Associates and Joint Ventures - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The initial application of the accounting standards, interpretations and amendments are not expected to have any financial impacts to the current period and prior period to the financial statements of the Group and of the Company upon their adoption. 2.6 Significant accounting estimates and judgements Estimates, assumptions concerning the future and judgements are made in the preparation of the financial statements. They affect the application of the Group’s and of the Company’s accounting policies and reported amounts of assets, liabilities, income and expenses, and disclosures made. Estimates and underlying assumptions are assessed on an on-going basis and are based on experience and relevant factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results.
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