EXCEL FORCE MSC BERHAD Annual Report 2018

58 ANNUAL REPORT 2018 2. Basis of Preparation (cont’d) (a) Statement of compliance (cont’d) Adoption of new and amended standards (cont’d) (i) MFRS 9 Financial Instruments (IFRS 9 issued by IASB in July 2014) (cont’d) (3) Effect of changes in classification and measurement of financial assets on 1 January 2018: MFRS 9 measurement category As at - Amortised 31.12.2017 Remeasurement cost RM RM RM MFRS 139 measurement category Group Financial assets Loans and receivables Trade receivables 3,150,120 (65,044) 3,085,076 Other receivables which are financial assets 417,212 - 417,212 Deposits, bank and cash balances and short term funds 6,807,172 - 6,807,172 10,374,504 (65,044) 10,309,460 Company Financial assets Loans and receivables Trade receivables 2,732,671 (45,881) 2,686,790 Other receivables which are financial assets 403,362 - 403,362 Deposits, bank and cash balances and short term funds 6,634,900 - 6,634,900 9,770,933 (45,881) 9,725,052 (4) Effect of impairment allowances on 1 January 2018 Group Company RM RM Impairment on financial assets Balance under MFRS 139 as at 31 December 2017 - - Impairment losses on trade receivables 65,044 45,881 Balance under MFRS 9 as at 1 January 2018 65,044 45,881 Notes To The Financial Statements 31 December 2018 (cont’d)