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Annual Report 2020
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Notes to the Financial Statements
As at 31 March 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
47. Significant event
Covid-19 outbreak
Prior to the financial year end, the World Health Organization ("WHO") had on 11 March 2020 declared Covid-19 a
pandemic and there has since been growing concerns on the effects of the Covid-19 pandemic globally. On 18 March
2020, the Government of Malaysia imposed a Movement Control Order ("MCO"), on 16 April 2020, the Government of
Papua Guinea issued National Emergency Order ("NEO") and on 19 April 2020, the Government of Indonesia imposed
a Large-scale Social Restrictions ("LSR") for North Kalimantan area which involves movement restrictions and closure of
all government and private premises. The Covid-19 pandemic has significantly disrupted many businesses operations
around the world. For the Group, the impact on business operations has not been a direct consequence of the Covid-19
outbreak, but a result of the measures taken by the governments of Malaysia, Indonesia and Papua Guinea to contain
it. As the outbreak continues to evolve subsequent to the financial year, it is challenging to predict the full extent and
duration of its impact on business and the economy.
Up to the date of these financial statements, the Group has seen an impact of COVID-19 outbreak on the Group’s
revenue, earnings, cash flow and financial condition. At this juncture, it is not possible to estimate the full impact of the
outbreak’s short-term and longer-term effects or the Governments' varying efforts to combat the outbreak and support
businesses.
However, there is uncertainty about the length and severity of Government or regulatory intervention which could have
unexpected impacts. A prolonged economic downturn could also lead to further Government or regulatory intervention
and more adverse outcomes to the Group's business.
The Group will continue to monitor the development of these events and have implemented measures to mitigate the
impact of COVID-19 to the Group’s business, including the prudent management of its cash flows from its operating,
investing and financing activities.
Changes in shareholding
Following the transfers of the Company’s shares by and between BHR Enterprise Sdn. Bhd. (“BHR”), Roshayati binti Basir,
Rozana Zeti binti Basir and Rozilawati binti Haji Basir, the Company has ceased to be the subsidiary of BHR effective 23 July
2019. Roshayati binti Basir and Rozana Zeti binti Basir have emerged as the Company’s major shareholders with 17.60% and
17.45% interest, respectively. Rozilawati binti Haji Basir’s interest in the Company subsequent to the transfer is 0.09%.
Subsequent to the transfer, BHR remains as one of the Company’s major shareholders holding 16.95% interest.
48. Comparative
The comparative figures in respect of financial year ended 31 March 2019 have been audited by a firm which also a
member of the global network of Ernst & Young firms.
49. Authorisation of financial statements for issue
The financial statements for the year ended 31 March 2020 were authorised for issue in accordance with resolution of the
directors on 24 July 2020.