Notes to the Financial Statements Registration No. 200301030845 (633265-K) - 28 - 2. Basis of Preparation (Cont’d) (a) Statement of compliance (Cont’d) Adoption of amended standards During the financial year, the Group and the Company have adopted the following amendments to MFRSs issued by the Malaysian Accounting Standards Board (“MASB”) that are mandatory for current financial year: Amendments to MFRS 16 Covid-19-Related Rent Concessions beyond 30 June 2021 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 Amendments to MFRSs Annual Improvements to MFRS Standards 2018 - 2020 The adoption of the amendments to MFRSs did not have any significant impact on the financial statements of the Group and of the Company. Standards issued but not yet effective The Group and the Company have not applied the following new MFRSs and amendments to MFRSs that have been issued by MASB but are not yet effective for the Group and the Company: Effective dates for financial periods beginning on or after MFRS 17 Insurance Contracts 1 January 2023 Amendments to MFRS 17 Insurance Contracts 1 January 2023 106 DESTINI BERHAD ANNUAL REPORT 2022
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