92
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
1.
CORPORATE INFORMATION
Bonia Corporation Berhad (“Company”) is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the
Main Market of Bursa Malaysia Securities Berhad.
The registered office of the Company has been changed from Lot 10, The Highway Centre, Jalan 51/205, 46050 Petaling Jaya, Selangor
Darul Ehsan to No. 17-1 Plaza Danau Desa 2, Jalan 4/109F, Taman Danau Desa, Off Jalan Kelang Lama, 58100 Kuala Lumpur, Wilayah
Persekutuan, Malaysia.
The principal place of business of the Company is Level 6, Ikon Connaught, Lot 160, Jalan Cerdas, Taman Connaught, Cheras, 56000 Kuala
Lumpur, Wilayah Persekutuan, Malaysia.
The consolidated financial statements for the financial year ended 30 June 2016 comprise the Company and its subsidiaries and the interests
of the Group in associates. These financial statements are presented in Ringgit Malaysia (“RM”), which is also the functional currency of the
Company. All financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated.
The financial statements were authorised for issue in accordance with a resolution by the Board of Directors on 10 October 2016.
2.
PRINCIPAL ACTIVITIES
The Company is principally an investment holding and management company. The principal activities of the subsidiaries are set out in Note
10 to the financial statements.
There have been no significant changes in the nature of these activities during the financial year 2016.
3.
BASIS OF PREPARATION
The financial statements of the Group and of the Company set out on pages 83 to 181 have been prepared in accordance with Malaysian
Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards (“IFRSs”) and the provisions of the Companies Act,
1965 in Malaysia.
However, Note 41 to the financial statements set out on page 182 has been prepared in accordance with Guidance on Special Matter No. 1,
Determination of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing
Requirements
, as issued by the Malaysian Institute of Accountants (“MIA Guidance”) and the directive of Bursa Malaysia Securities Berhad.
4.
SIGNIFICANT ACCOUNTING POLICIES
4.1 Basis of accounting
The financial statements of the Group and of the Company have been prepared under the historical cost convention except as
otherwise stated in the financial statements.
The preparation of financial statements in conformity with MFRSs requires the Directors to make estimates and assumptions that
affect the reported amounts of assets, liabilities, revenue and expenses and disclosure of contingent assets and contingent liabilities.
In addition, the Directors are also required to exercise their judgement in the process of applying the accounting policies. The areas
involving such judgements, estimates and assumptions are disclosed in Note 6 to the financial statements. Although these estimates
and assumptions are based on the Directors’ best knowledge of events and actions, actual results could differ from those estimates.
4.2 Basis of consolidation
The consolidated financial statements incorporate the financial statements of the Company and all its subsidiaries. Control is achieved
when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those
returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:
(a)
Power over the investee;
(b)
Exposure, or rights, to variable returns from its involvement with the investee; and
(c)
The ability to use its power over the investee to affect its returns.
