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ASIA MEDIA GROUP Berhad
Annual Report 2016
68
NOTES TO THE FINANCIAL STATEMENTS
1.
Corporate information
The 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 Company is principally engaged in investment holding.
The principal activities of the subsidiaries are set out in Note 9 to the financial statements.
The registered office of the Company is located at Level 8, Symphony House, Pusat Dagangan
Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan.
The principal place of business of the Company is located at No. 35-1, Jalan Bandar 16, Pusat
Bandar Puchong, 47100 Puchong, Selangor Darul Ehsan.
There were no significant changes in the nature of these activities during the financial year.
The financial statements were authorised for issue by the Board of Directors in accordance with
a resolution of the Directors on 24 March 2017.
2.
Basis of preparation
The financial statements of the Group and of the Company have been prepared in accordance
with Malaysian Financial Reporting Standards ("MFRS"), International Financial Reporting
Standards (“IFRS”) and the requirements of the Companies Act, 1965 in Malaysia.
The financial statements of the Group and of the Company have been prepared on the historical
cost basis unless otherwise indicated in the summary of significant accounting policies.
The financial statements are presented in Ringgit Malaysia ("RM"), which is the Company’s
functional currency.
2.1 Standards, amendments to published standards and interpretations issued but not
yet effective
The following are accounting standards, amendments and interpretations to existing
standards that have been issued by the Malaysian Accounting Standards Board (“MASB”)
but are not yet effective and have not been adopted by the Company. The Company will
adopt these standards and amendments to existing standards, if applicable, when they
become effective:
(i) Effective for annual periods beginning on or after 1 January 2017
•
Amendments to MFRS 12, ‘Annual Improvements to MFRSs 2014-2016 Cycle’
•
Amendments to MFRS 107, ‘Disclosure Initiative’
•
Amendments to MFRS 112, ‘Recognition of Deferred Tax Assets for Unrealised
Losses’