Asia Media Annual Report 2017

ASIA MEDIA GROUP BERHAD Annual Report 2017 69 2. Basis of Preparation (cont’d) (a) Statement of compliance (cont’d) Standards issued but not yet effective The Group and the Company have not applied the following new MFRSs, new interpretations and amendments to MFRSs that have been issued by the MASB but are not yet effective for the Group and the Company: Effective dates for financial periods beginning on or after Annual Improvements to MFRSs 2014-2016 Cycle: • Amendments to MFRS 1 1 January 2018 • Amendments to MFRS 128 1 January 2018 MFRS 9 Financial Instruments (IFRS 9 issued by IASB in July 2014) 1 January 2018 MFRS 15 Revenue from Contracts with Customers 1 January 2018 Amendments to MFRS 2 Classification and Measurement of Shared-based Payment Transactions 1 January 2018 Amendments to MFRS 15 Clarifications to MFRS 15 1 January 2018 Amendments to MFRS 140 Transfers of Investment Property 1 January 2018 Amendments to MFRS 4 Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts 1 January 2018* IC Interpretation 22 Foreign Currency Transactions and Advance Consideration 1 January 2018 MFRS 16 Leases 1 January 2019 IC Interpretation 23 Uncertainty over Income Tax Treatments 1 January 2019 Amendments to MFRS 9 Prepayment Features with Negative Compensation 1 January 2019 Amendments to MFRS 119 Plan Amendment, Curtailment or Settlement 1 January 2019 Amendments to MFRS 128 Long-term Interests in Associates and Joint Ventures 1 January 2019 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2017 (cont’d)