109 / 188
1 0 5
F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
NOTES TO THE FINANCIAL STATEMENTS
1.
CORPORATE INFORMATION
The principal activities of the Company are those of property management and investment holding. The principal activities of
the subsidiaries and associate 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, 2016 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 2017, 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 2017.
Effective for
annual period
beginning
Description
on or after
Annual Improvements to FRSs 2014-2016 Cycle
1 January 2017
Amendments to FRS 107: Disclosure initiative
1 January 2017
Amendments to FRS 112: Recognition of deferred tax assets for unrealised losses
1 January 2017
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.