KUMPULAN FIMA ANNUAL REPORT 2019

Corporate information

The principal activities of the Company are those of investment and property holding. The principal activities

of the subsidiaries and the associates are described in Notes 41 and 42, respectively.

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 principal place of business of the Company is located

at Suite 4.1, Level 4, Block C, Plaza Damansara, No. 45, Jalan Medan Setia 1, Bukit Damansara, 50490 Kuala

Lumpur.

The holding company is BHR Enterprise Sdn. Bhd., a company incorporated in Malaysia.

Significant accounting policies

2.1 Basis of preparation

The financial statements of the Group and of the Company have been prepared in accordance with

Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards (“IFRS”)

and the requirements of the Companies Act, 2016 in Malaysia.

These financial statements for the year ended 31 March 2019 are the first the Group and the Company

have prepared in accordance with MFRS, including MFRS 1 - First-time Adoption of Malaysian Financial

Reporting Standards, MFRS 9 Financial Instruments, MFRS 15 Revenue from Contracts with Customers,

MFRS 116 - Property, Plant & Equipment and MFRS 141 - Agriculture. For the periods up to and including

the year ended 31 March 2018, the financial statements of the Group and of the Company were prepared

in accordance with Financial Reporting Standards (“FRSs”) in Malaysia.

Subject to certain transition elections as disclosed in Note 44, the Group and the Company have consistently

applied the same accounting policies in their opening MFRS Statements of Financial Position as at 1 April

2017, being the transition date, and throughout all years presented, as if these policies had always been

in effect. Comparative information in these financial statements have been restated to give effect to the

above changes.

The impact of the transition to MFRS to the Group’s and the Company’s reported financial position,

financial performance and cash flows are disclosed in Note 44.

The financial statements are expressed in Ringgit Malaysia (“RM”) and all values are rounded to the nearest

thousand (RM’000) except where otherwise indicated.

Notes to the

Financial Statements

As at 31 March 2019

Kumpulan Fima Berhad

(11817-V)

Annual Report 2019

124