| ANNUAL REPORT 2015
122
NOTES TO THE FINANCIAL STATEMENTS
30 June 2015 (cont’d)
5. ADOPTION OF NEWMFRSs AND AMENDMENTS TO MFRSs
5.1 New MFRSs adopted during the financial year
The Group and the Company adopted the following Amendments and Interpretation of the MFRS Framework that were
issued by the Malaysian Accounting Standards Board (“MASB”) during the financial year.
Title
Effective Date
Amendments to MFRS 10
Consolidated Financial Statements: Investment Entities
1 January 2014
Amendments to MFRS 12
Disclosure of Interest in Other Entities: Investment Entities
1 January 2014
Amendments to MFRS 127
Separate Financial Statements (2011): Investment Entities
1 January 2014
Amendments to MFRS 132
Offsetting Financial Assets and Financial Liabilities
1 January 2014
Amendments to MFRS 136
Recoverable Amount Disclosures for Non-Financial Assets
1 January 2014
Amendments to MFRS 139
Novation of Derivatives and Continuation of Hedge Accounting
1 January 2014
IC Interpretation 21
Levies
1 January 2014
Amendments to MFRS 119
Defined Benefit Plans: Employee Contributions
1 July 2014
Amendments to MFRSs
Annual Improvements 2010 - 2012 Cycle
1 July 2014
Amendments to MFRSs
Annual Improvements 2011 - 2013 Cycle
1 July 2014
There is no material impact upon the adoption of these Amendments and Interpretation during the financial year.
5.2 New MFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2016
The following are Standards and Amendments of 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
MFRS 14
Regulatory Deferral Accounts
1 January 2016
Amendments to MFRS 10 and MFRS 128
Sale or Contribution of
1 January 2016
Assets between an Investor and its Associates or Joint Venture
Amendments to MFRS 10, MFRS 12 and MFRS 128
Investment Entities:
1 January 2016
Applying the Consolidation Exception
Amendments to MFRS 101
Disclosure Initiative
1 January 2016
Amendments to MFRS 116 and MFRS 138
Clarification of Acceptable Methods
1 January 2016
of Depreciation and Amortisation
Amendments to MFRS 11
Accounting for Acquisitions of Interests in Joint Operations
1 January 2016
Amendments to MFRS 116 and MFRS 141
Agriculture: Bearer Plants
1 January 2016
Amendments to MFRS 127
Equity Method in Separate Financial Statements
1 January 2016
Amendments to MFRSs
Annual Improvements to 2012 - 2014 Cycle
1 January 2016
MFRS 15
Revenue from Contracts with Customers
1 January 2018
MFRS 9
Financial Instruments (IFRS as issued by IASB in July 2014)
1 January 2018
The Group is in the process of assessing the impact of implementing these Standards and Amendments, since the
effects would only be observable for future financial years.
