Page 121 - Exim iar24_Ebook

EXIM BANK MALAYSIA
EXIM BANK M AL A Y SI A ANNUAL REPORT 2024
7 FINANCIAL STATEMENTS 119
NOTES TO THE FINANCIAL STATEMENTS

2. MATERIAL ACCOUNTING POLICY INFORMATION (cont’d)

2.3 Standards issued but not yet effective (cont’d)
Effective for financial periods beginning on or after 1 January 2026

• MFRS 1 First-time Adoption of Malaysian Reporting Standards - Annual Improvements to MFRS Accounting
Standards (Amendments to MFRS 1)
• MFRS 7 Financial Instruments: Disclosures - Amendments to the Classification and Measurement of Financial
Instrument (Amendments to MFRS 7)
• MFRS 7 Financial Instruments: Disclosures - Annual Improvements to MFRS Accounting Standards (Amendments to
MFRS 7)
• MFRS 9 Financial Instruments - Amendments to Classification and Measurement of Financial Instruments
(Amendments to MFRS 9)
• MFRS 9 Financial Instruments - Annual Improvements to MFRS Accounting Standards (Amendments to MFRS 9)
• MFRS 10 Consolidated Financial Statements - Annual Improvements to MFRS Accounting Standards (Amendments
to MFRS 10)
• MFRS 107 Statement of Cash Flows - Annual Improvements to MFRS Accounting Standards (Amendments to
MFRS 107)
Effective for financial periods beginning on or after 1 January 2027

• MFRS 18 Presentation and Disclosure in Financial Statements
• MFRS 19 Subsidiaries without Public Accountability: Disclosures
Effective date for these Amendments to Standards has been deferred, pending further announcement
• MFRS 10 and MFRS 128 Investments in Associates and Joint Ventures - Sale or Contribution of Assets between an
Investor and its Associate or Joint Venture
The Group and the Bank expect that the adoption of the above standards and interpretations will have no material
impact on the financial statements other than MFRS 18 Presentation and Disclosure in Financial Statements which the
Group is in the midst of evaluating the potential impact of adopting this standard on the required effective date.
2.4 Summary of material accounting policy information

(a) Subsidiaries and basis of consolidation
(i) Subsidiaries
A subsidiary is an entity over which the Group has power to govern the financial and operating policies so as
to obtain benefits from its activities.
(ii) Basis of consolidation

In the Bank’s separate financial statements, investments in subsidiaries are accounted for at cost less
impairment losses. On the disposal of such investments, the difference between net disposal proceeds and
their carrying amounts is included in the statement of profit or loss.

The consolidated financial statements comprise the financial statements of the Bank and its subsidiaries as
at the reporting date. The financial statements used in the preparation of the consolidated financial statements
are prepared for the same reporting date as the Bank. Consistent accounting policies are applied to like
transactions and events in similar circumstances.