EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 59 notes to the financial statements 31 december 2019 (cont’d) 2. Basis of Preparation (Cont’d) (a) Statement of compliance (Cont’d) Adoption of new and amended standards (Cont’d) MFRS 16 Leases (Cont’d) Impact arising from the adoption of MFRS 16 on the financial statements: Statements of Financial Position As previously reported MFRS 16 adjustments As at restated RM RM RM Group Non-current assets Capital work-in-progress 8,384,910 (8,384,910) - Right-of-use asssets - 9,100,069 9,100,069 Current liability Lease liabilities - (728,386) (728,386) Equity Retained earnings 26,284,429 (13,227) 26,271,202 Company Non-current assets Capital work-in-progress 8,384,910 (8,384,910) - Right-of-use asssets - 9,100,069 9,100,069 Current liabilitiy Lease liabilities - (728,386) (728,386) Equity Retained earnings 26,302,567 (13,227) 26,289,340