Sasbadi Annual Report 2019

PAGE 142 SASBADI HOLDINGS BERHAD FINANCIAL STATEMENTS (continued) 30. Significant changes in accounting policies (continued) 30.2 Accounting for financial instruments a. Transition In the adoption of MFRS 9, the following transitional exemptions as permitted by the standard have been adopted: i) The Group and the Company have not restated comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of MFRS 9 are recognised in retained earnings and reserves as at 1 September 2018. Accordingly, the information presented for 2018 does not generally reflect the requirements of MFRS 9, but rather those of MFRS 139, Financial Instruments: Recognition and Measurement. ii) The following assessments have been made based on the facts and circumstances that existed at the date of initial application: - the determination of the business model within which a financial asset is held; and - the designation of certain investments in equity instruments not held for trading as at FVOCI. iii) Loss allowance for receivables (other than trade receivables) is recognised at an amount equal to lifetime expected credit losses until the receivable is derecognised.