ACCOUNTABILITY 190 YINSON HOLDINGS BERHAD 3. STANDARDS, AMENDMENTS TO PUBLISHED STANDARDS AND INTERPRETATIONS, WHICH ARE APPLICABLE AND ADOPTED BY THE GROUP AND THE COMPANY (CONTINUED) IFRS Interpretation Committee (IFRIC) agenda decisions that are concluded and published (continued) In line with the IFRIC agenda decision, the Group has disclosed additional information on material expenses for its reportable segments within segment information (Note 45). In particular, the Group considered cost of sales, employee benefits expenses and finance costs to be material, based on all relevant facts and circumstances. Comparative information was revised to include the disclosure of additional information on material expenses and conform with current year’s presentation. The additional disclosures had no impact on the retained earnings and statements of financial position as at 1 February 2024 and 31 January 2025, statements of comprehensive income and statements of changes in equity of the Group for the financial year ended 31 January 2025. 4. STANDARDS, AMENDMENTS TO PUBLISHED STANDARDS AND INTERPRETATIONS TO EXISTING STANDARDS THAT ARE APPLICABLE TO THE GROUP AND THE COMPANY BUT NOT YET EFFECTIVE (a) Financial year beginning on/after 1 February 2026 (i) Annual Improvements to MFRS Accounting Standards—Volume 11: Amendments to MFRS 9 and MFRS 7 “Amendments to the Classification and Measurement of Financial Instruments” The amendments aim to enhance the clarity and consistency of financial reporting related to the classification and measurement of financial instruments. These amendments introduce important changes to the assessment of financial instruments based on the entity’s business model and the nature of the cash flows. The amendments to MFRS 7 require additional disclosures related to the classification and measurement of financial instruments, enhancing transparency for users of financial statements. (ii) Annual Improvements to MFRS Accounting Standards—Volume 11: Amendments to MFRS 1 “First-time Adoption of Malaysian Financial Reporting Standards” The amendments provide an exemption that allows first-time adopters to reset cumulative translation differences to zero at the date of transition to MFRS. This exemption simplifies the process for entities that had previously recognised translation differences in other comprehensive income. The improvements also clarify the treatment of borrowing costs for first-time adopters. This aims to align the treatment of such costs with that of other standards to ensure consistency. (iii) Annual Improvements to MFRS Accounting Standards—Volume 11: Amendments to MFRS 7 “Financial Instruments: Disclosures” The amendments aim to enhance the clarity and consistency of disclosures related to financial instruments. The amendments focus on improving the information provided regarding the risks and uncertainties associated with financial instruments. This includes refining the disclosure requirements for credit risk, liquidity risk, and the fair value hierarchy. (iv) Annual Improvements to MFRS Accounting Standards—Volume 11: Amendments to MFRS 9 “Financial Instruments” The amendments clarify the conditions under which financial liabilities are to be derecognised, focusing on refinements related to the exchange of instruments or substantial modifications. This helps entities in more consistently applying the principles of de-recognition. (v) Annual Improvements to MFRS Accounting Standards—Volume 11: Amendments to MFRS 10 “Consolidated Financial Statements” The amendments provide additional guidance on the consolidation exemption for investment entities, including clearer criteria to help determine when a parent entity should consolidate its subsidiaries or measure them at fair value. The amendments offer clarity on specific control assessments related to entities where the parent does not have the majority of voting rights but controls the entity through other means (e.g., contractual arrangements).
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