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Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
120
Notes to the
Financial Statements
As at 31 March 2020
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 17 and 18, 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 and ultimate holding companies are Fima Metal Box Holdings Sdn. Bhd. and Kumpulan Fima Berhad respectively, all of
which were incorporated in Malaysia. The ultimate 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 Malaysian Financial
Reporting Standards ("MFRSs"), International Financial Reporting Standards ("IFRSs") 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 Changes in accounting policies arising from adoption of new MFRSs, amendments to MFRSs 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 2019, the Group and the Company adopted the following new and amended FRSs and IC Interpretation
mandatory for annual financial periods beginning on or after 1 January 2019.
Description
Effective
for financial
periods
beginning
on or after
MFRS 16: Leases
1 January 2019
Amendments to MFRS 9: Prepayment feature with compensation
1 January 2019
Amendments to MFRS 119: Plan amendment, curtailment or settlement
1 January 2019
Amendments to MFRS 128: Long term interest in associates and joint ventures
1 January 2019
Annual Improvements to MFRS Standards 2015 - 2017 Cycle
1 January 2019
IC Interpretation 23: Uncertainty over income tax treatments
1 January 2019