FINANCIAL REPORTS
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2015
1 Corporate information
The Company is a public limited company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office of the Company is located at the 15th Floor, Exchange Square, Bukit Kewangan, 50200 Kuala Lumpur.
The Company is an exchange holding company, whose principal activities are treasury management and the provision of management and administrative services to its subsidiaries. The principal activities of the subsidiaries are to operate the Malaysian securities, derivatives and offshore exchanges and the Shari’ah compliant commodity trading platform, to operate the related depository function and clearing houses, and to disseminate information relating to securities quoted on the exchanges. The principal activities of the subsidiaries are disclosed in Note 15.
There have been no significant changes in the nature of these principal activities during the financial year.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the Directors on 2 February 2016.
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, 1965 in Malaysia.
The financial statements, other than for financial instruments and retirement benefit obligations, have been prepared on the historical cost basis. Certain financial instruments are carried at fair value in accordance with the MFRS 139 Financial Instruments: Recognition and Measurement, and the retirement benefit obligations include actuarial gains and losses in accordance with MFRS 119 Employee Benefits.
The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest thousand (RM’000 or ’000), except when otherwise indicated.
2.2 Adoption of Amendments to MFRSs and Annual Improvements
At the beginning of the financial year, the Group and the Company adopted the following Amendments to MFRSs and Annual Improvements which are mandatory for the financial periods beginning on or after 1 January 2015:
Amendments to MFRS 119 Employee Benefits - Defined Benefit Plans: Employee Contributions Annual improvements to MFRSs 2010 - 2012 Cycle Annual improvements to MFRSs 2011 - 2013 Cycle
The adoption of the above pronouncements did not have any impact on the financial statements of the Group and of the Company.