ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad
ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad
ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad
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WAWASAN <strong>TKH</strong> HOLDINGS BERHAD (540218-A)<br />
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2012</strong><br />
057<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
31 DECEMBER <strong>2012</strong> (cont’d)<br />
5. ADOPTION OF NEW MFRSs AND AMENDMENT TO MFRSs (cont’d)<br />
5.1 New MFRSs adopted during the current financial year (cont’d)<br />
Title<br />
IC Interpretation 6 Liabilities Arising from Participating in a Specific Market-Waste<br />
Electrical and Electronic Equipment<br />
IC Interpretation 7 Applying the Restatement Approach under MFRS 129 Financial<br />
Reporting in Hyper inflationary Economies<br />
IC Interpretation 9 Reassessment of Embedded Derivatives<br />
IC Interpretation 10 Interim Financial Reporting and Impairment<br />
IC Interpretation 12 Service Concession Arrangements<br />
IC Interpretation 13 Customer Loyalty Programmes<br />
IC Interpretation 14 MFRS 119 – The Limit on a Defined Benefit Asset, Minimum<br />
Funding Requirements and their Interaction<br />
IC Interpretation 15 Agreements for the Construction of Real Estate<br />
IC Interpretation 16 Hedges of a Net Investment in a Foreign Operation<br />
IC Interpretation 17 Distributions of Non-cash Assets to Owners<br />
IC Interpretation 18 Transfers of Assets from Customers<br />
IC Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments<br />
IC Interpretation 107 Introduction of the Euro<br />
IC Interpretation 110 Government Assistance – No Specific Relation to Operating<br />
Activities<br />
IC Interpretation 112 Consolidation – Special Purpose Entities<br />
IC Interpretation 113 Jointly Controlled Entities – Non-Monetary Contributions by<br />
Venturers<br />
IC Interpretation 115 Operating Leases – Incentives<br />
IC Interpretation 125 Income Taxes – Changes in the Tax Status of an Entity or its<br />
Shareholders<br />
IC Interpretation 127 Evaluating the Substance of Transactions Involving the Legal<br />
Form of a Lease<br />
IC Interpretation 129 Service Concession Arrangements: Disclosures<br />
IC Interpretation 131 Revenue – Barter Transactions Involving Advertising Services<br />
IC Interpretation 132 Intangible Assets – Web Site Costs<br />
Effective Date<br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
1 January <strong>2012</strong><br />
(a)<br />
(b)<br />
Amendments to MFRS 101 Clarification of the Requirements for Comparative Information are<br />
mandatory for annual periods beginning on or after 1 January 2013.<br />
The Group has early adopted Amendments to MFRS 101 Clarification of the Requirements for<br />
Comparative Information in conjunction with the application of MFRS 101. These Amendments<br />
clarify that the third statement of financial position is required only if a retrospective application,<br />
retrospective restatement or reclassification has a material effect on the information in the statement<br />
of financial position at the beginning of the preceding period. If the third statement of financial<br />
position is presented, these Amendments clarify that the related notes to the opening statement<br />
of financial position need not be disclosed. Accordingly, there are no related notes disclosed in<br />
relation to the opening statement of financial position as at 1 January 2011.<br />
Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards are<br />
mandatory for annual periods beginning on or after 1 January 2013.<br />
The Group has early adopted Amendments to MFRS 1 First-time Adoption of Malaysian Financial<br />
Reporting Standards in conjunction with the application of MFRS 1. These Amendments clarify that<br />
the first MFRS financial statements shall include at least three statements of financial position, two<br />
statements of profit or loss and other comprehensive income, two separate statements of profit<br />
or loss (if presented), two statements of cash flows and two statements of changes in equity and<br />
related notes, including comparative information for all statements presented.