| Applications of new and revised IFRS and IAS and IFRIC and SIC and IASB |
| 3. |
Application of new and revised International Financial Reporting Standards (“IFRS”), International Accounting Standards (“IAS”), International Financial Reporting Interpretations Committee (“IFRIC”) Interpretations and Standing Interpretations Committee (“SIC”) Interpretations issued by the International Accounting Standards Board (“IASB”), (collectively, “IFRS”) |
| | a) | Amendments to IFRS and the new interpretation that are mandatorily effective for the current year |
| New Standards, Interpretations and Amendments | | Effective date
issued by IASB | | Amendments to IFRS 16, ‘Lease liability in a sale and leaseback’ | | January 1, 2024 | | Amendments to IAS 1, ‘Classification of liabilities as current or noncurrent’ | | January 1, 2024 | | Amendments to IAS 1, ‘Non-current liabilities with covenants’ | | January 1, 2024 | | Amendments to IAS 7 and IFRS 7, ‘Supplier finance arrangements’ | | January 1, 2024 |
The Group has adopted the above new
standards, interpretations and amendments as of the effective date, as applicable. Based on the Group’s assessment, the above standards
and interpretations have no significant impact to the Group’s financial condition and financial performance.
| |
b) |
New standards, interpretations and amendments in issue but not yet effective |
New standards, interpretations and amendments in issue but
not yet effective are as follows:
| New Standards, Interpretations and Amendments | | Effective date
issued by IASB | | Amendments to IAS 21, ‘Lack of exchangeability’ | | January 1, 2025 | | Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’ | | To be determined by IASB | | Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing nature–dependent electricity’ and ‘Classification and Measurement of Financial Instruments’ | | January 1, 2026 | | Annual improvements to IFRS Accounting Standards–Volume 11 | | January 1, 2026 | | IFRS 19, ‘Subsidiaries without public accountability: disclosures’ | | January 1, 2027 | | IFRS 18, ‘Presentation and disclosure in financial statements’ | | January 1, 2027 |
Based on the Group’s assessment,
the above standards and interpretations will not have any significant impact to the Group’s financial condition and financial performance.
|