GHL System Berhad Annual Report 2018

G H L S y s t e m S B e r h a d ( 2 9 3 0 4 0 - D ) 148 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 35. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs (cont’d) 35.1 New MFRSs adopted during the financial year (cont’d) (a) MFRS 9 Financial Instruments (cont’d) (iii) Classification and measurement (cont’d) The following tables are reconciliations of the carrying amount of the statement of financial position of the Group and of the Company from MFRS 139 to MFRS 9 as at 1 January 2018: Existing under MFRS 139 New under MFRS 9 Carrying amount as at 31 December Carrying amount as at 1 January 2017 Remeasurement 2018 RM RM RM Group Trade and other receivables: Opening balance 68,942,613 - 68,942,613 Increase in impairment loss - (2,518,371) (2,518,371) Total trade and other receivables 68,942,613 (2,518,371) 66,424,242 Retained earnings: Opening balance 274,195,392 - 274,195,392 Increase in impairment loss for - trade and other receivables - (2,518,371) (2,518,371) Total retained earnings 274,195,392 (2,518,371) 271,677,021 Company Trade and other receivables: Opening balance 46,388,584 - 46,388,584 Increase in impairment loss - (20,413,933) (20,413,933) Total trade and other receivables 46,388,584 (20,413,933) 25,974,651 Accumulated losses: Opening balance (131,178,861) - (131,178,861) Increase in impairment loss for - trade and other receivables - (385,448) (385,448) - amounts owing by subsidiaries - (20,028,485) (20,028,485) Total accumulated losses (131,178,861) (20,413,933) (151,592,794)