Serba Dinamik Annual Report 2018

181 SERBA DINAMIK HOLDINGS BERHAD ANNUAL REPORT 2018 Serba Dinamik Holdings Berhad is a public limited liability company, incorporated and domiciled in Malaysia. The address of its registered office is Level 15, Menara Serba Dinamik, Presint 3.4, Persiaran Perbandaran, Seksyen 14, 40000 Shah Alam, Selangor, Malaysia. The consolidated financial statements of the Company as at and for the financial year ended 31 December 2018 comprise the financial statements of the Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the Group’s interest in associates. The financial statements of the Company as at and for the year ended 31 December 2018 do not include other entities. The Company is principally engaged in investment holding and provision of management services while the principal activities of the subsidiaries are stated in Note 4 to the financial statements. The financial statements were authorised for issue by the Board of Directors on 16 April 2019. 1. Basis of preparation (a) Statement of compliance The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards ("IFRS") and the requirements of the Companies Act 2016 in Malaysia. The following are accounting standards, interpretations and amendments of MFRS that have been issued by the Malaysian Accounting Standards Board (“MASB”) but have not been adopted by the Group and the Company: MFRS / Amendment / Interpretation Effective date MFRS 16, Leases 1 January 2019 Amendments to MFRS 3, Business Combinations (Annual Improvements to MFRS Standards 2015-2017 Cycle) 1 January 2019 Amendments to MFRS 9, Financial Instruments - Prepayment Features with Negative Compensation 1 January 2019 Amendments to MFRS 11, Joint Arrangements (Annual Improvements to MFRS Standards 2015-2017 Cycle) 1 January 2019 Amendments to MFRS 112, Income Taxes (Annual Improvements to MFRS Standards 2015-2017 Cycle) 1 January 2019 Amendments to MFRS 119, Employee Benefits Plan Amendment, Curtailment or Settlement 1 January 2019 Amendments to MFRS 123, Borrowing Costs (Annual Improvements to MFRS Standards 2015-2017 Cycle) 1 January 2019 Amendments to MFRS 128, Investments in Associates and Joint Ventures - Long-term Interests in Associates and Joint Ventures 1 January 2019 NOTES TO THE FINANCIAL STATEMENT