4. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 4.1 New MFRSs and Amendments to MFRSs adopted during the financial year The Group and the Company adopted the following Amendments to the MFRS Framework that were issued by the Malaysian Accounting Standards Board (“MASB”) during the financial year: Title Effective Date Amendments to MFRS 16 Lease Liability in a Sale and Leaseback 1 January 2024 Amendments to MFRS 101 Classification of Liabilities as Current or Non-current 1 January 2024 Amendments to MFRS 101 Non-current Liabilities with Covenants 1 January 2024 Amendments to MFRS 107 and MFRS 7 Supplier Finance Arrangements 1 January 2024 Adoption of the above Amendments did not have any material effect on the financial performance or position of the Group and of the Company. 4.2 New MFRSs and Amendments to MFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2025 The following are Standards and Amendments to the MFRS Framework that have been issued by the MASB but have not been early adopted by the Group and the Company: Title Effective Date Amendments to MFRS 121 Lack of Exchangeability 1 January 2025 Amendments to MFRS 9 and MFRS 7 Amendments to the Classification and Measurement of Financial Instruments 1 January 2026 Annual Improvements to MFRS Accounting Standards - Volume 11 1 January 2026 Amendments to MFRS 9 and MFRS 7 Contracts Referencing Nature-dependent Electricity 1 January 2026 MFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 MFRS 19 Subsidiaries without Public Accountability: Disclosures 1 January 2027 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 are in the process of assessing the impact of implementing these Standards and Amendments, since the effects would only be observable for future financial years. SASBADI HOLDINGS BERHAD Financial Statements (conঞ nued) 98
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