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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
1.
CORPORATE INFORMATION
The principal activities of the Company are those of property management and investment holding. The
principal activities of the subsidiaries and associates are described in Notes 16 and 17, respectively. There
have been no significant changes in the nature of these activities during the financial year.
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 immediate, penultimate and ultimate holding companies are Fima Metal Box Holdings Sdn. Bhd.,
Kumpulan Fima Berhad and BHR Enterprise Sdn. Bhd. respectively, all of which were incorporated in
Malaysia. The penultimate holding company is listed on the Main Market of Bursa Malaysia Securities
Berhad.
2.
SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of Preparation
The financial statements of the Group and of the Company have been prepared in accordance with
Financial Reporting Standards (“FRSs”) and the requirements of the Companies Act, 1965 in Malaysia.
The financial statements of the Group and of the Company have been prepared on a historical cost
basis except as disclosed in the accounting policies below.
The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the
nearest thousand (RM’000) except when otherwise indicated.
2.2 New FRSs, Amendments to FRS and IC Interpretations
(a) Changes in Accounting Policies
The accounting policies adopted are consistent with those of the previous financial year except as
follows:
On 1 April 2015, the Group and the Company adopted the following new and amended FRSs and
IC Interpretation mandatory for annual financial periods beginning on after 1 January 2015.
Effective for
annual period
beginning
Description
on or after
Amendments to FRS 119: Defined Benefit Plans:
Employee Contributions
1 July 2014
Annual Improvements to FRSs 2010 - 2012 Cycle
1 July 2014
Annual Improvements to FRSs 2011 - 2013 Cycle
1 July 2014
The adoption of the above new and standards and interpretations do not have significant impact
on the financial statements of the Group and of the Company.
NOTES TO THE FINANCIAL
STATEMENTS 31 MARCH 2016