Serba Dinamik Annual Report 2018

277 SERBA DINAMIK HOLDINGS BERHAD ANNUAL REPORT 2018 N O T E S T O T H E F I N A N C I A L S TAT E M E N T 32. Capital commitment - Group 2018 2017 RM’000 RM’000 Land and buildings Contracted but not provided for 607,572 439,150 ========= ========= 33. Subsequent events (i) On 15 March 2019, a wholly owned indirect subsidiary of the Group, SDSB, entered into a shares sale agreement to acquire the entire equity interest in Sg Rek Sdn. Bhd. for a total cash consideration of RM8,000,000. (ii) On 5 April 2019, a wholly owned indirect subsidiary of the Group, SDIT, has subscribed to 250,000 ordinary shares representing 100% shareholdings in SDIT International Ltd. (“SDITL”) for a total cash consideration of USD250,000. 34. Significant changes in accounting policies During the year, the Group and the Company adopted MFRS 15, Revenue from Contracts with Customers and MFRS 9, Financial Instruments on their financial statements. The Group and the Company generally applied the requirements of these accounting standards retrospectively with practical expedients and transitional exemptions as allowed by the standards. Nevertheless, as permitted by MFRS 9, the Group and the Company have elected not to restate the comparatives. 34.1 Impacts on financial statements The following tables summarise the impacts arising from the adoption of MFRS 15 and MFRS 9 on the Group’s financial statements.