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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.)
The effects of transitioning from FRSs to MFRSs, adoptions of MFRS 9 and MFRS 141 are as follows:
Reconciliation of Statements of Financial Position
New
Effects
Effects
Effects
carrying
Previously
from
from
from
amount
reported
transition adoption of adoption of
under
under FRS
to MFRS
MFRS 9
MFRS 141
MFRS
Group
RM ‘000
RM ‘000
RM ‘000
RM ‘000
RM ‘000
As at 1 April 2017
Non-current assets
Property, plant and equipment
319,119
-
-
156,208
475,327
Biological assets
156,208
-
-
(156,208)
-
Current assets
Biological assets
-
-
-
6,289
6,289
Trade and other receivables
140,701
-
-
-
140,701
Equity
Other reserves
141,654
(74,758)
-
-
66,896
Retained earnings
315,379
74,758
-
4,087
394,224
Non-controlling interests
257,704
-
-
664
258,368
Non-current liability
Deferred tax liabilities
32,922
-
-
1,538
34,460
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
202