204 / 232
Notes to the
Financial Statements
As at 31 March 2019
44. Explanation of transition of MFRSs (cont’d.)
The significant accounting policies adopted in preparing the financial statements are consistent with those of
the audited financial statement for the year ended 31 March 2018, except as discussed below: (cont’d.)
(b) Adoption of MFRS 9 Financial Instruments (cont’d.)
The impact of MFRS 9 adoption is described below:
(i) Classification and measurement
MFRS 9 contains a new classification and measurement approach for the financial assets that reflects
the business model in which the assets are managed and their cash flows characteristics.
MFRS 9 contains three principal classification catergories for the financial assets as follows:
-
Financial assets at amortised cost (“AC”)
-
Financial assets at fair value through profit and loss (“FVTPL”)
-
Financial assets at fair value through other comprehensive income (“FVTOCI”)
The standard also eliminates the previous FRS 139 categories of Held - to -Maturity, Loan andReceivables
(“L&R”) and Available-for-Sale (“AFS”). All the Group’s and the Company’s financial liabilities previously
categorised under L&R are now categorised as financial liabilities at amortised cost.
The following table shows the original measurement categories in accordance FRS 139 and the new
measurement categories under MFRS 9 for the Group’s and the Company’s financial assets as at
1 April 2018.
Original
New
Original
carrying
New
carrying
classification
amount classification
amount
under
under
under
under
FRS 139
FRS 139
MFRS 9
MFRS 9
RM ‘000
RM ‘000
Group
Trade receivables
L&R
141,507
AC
139,960
Other receivables, excluding tax
recoverable and prepayment
L&R
11,579
AC
11,579
Cash and bank balances
L&R
235,297
AC
235,297
Short term cash investments
FVTPL
51,886
FVTPL
51,886
Company
Other receivables, excluding tax
recoverable and prepayments
L&R
728
AC
728
Amount due from related
companies
L&R
237,615
AC
237,615
Cash and bank balances
L&R
11,578
AC
11,578
Short term cash investments
FVTPL
8,003
FVTPL
8,003
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
200