Dagang NeXchange Berhad is a public limited liability company, incorporated and domiciled in Malaysia and listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office and principal place of business are as follows: Registered office E–10–4, Megan Avenue 1, 189, Jalan Tun Razak, 50400 Kuala Lumpur, Wilayah Persekutuan, Malaysia. Principal place of business Dagang Net Tower, Block 10 (A&B) Corporate Park, Star Central, Lingkaran Cyberpoint Timur, Cyber 12, 63000 Cyberjaya, Selangor. The consolidated financial statements of the Company as at and for the financial period from 1 July 2022 to 31 December 2023 comprise the Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the Group’s interests in an associate and joint operation. The Company is principally engaged in investment holding whilst the principal activities of the subsidiaries are as stated in Note 7 to the financial statements. On 17 August 2023, the Company changed its financial year end from 30 June to 31 December. These financial statements were authorised for issue by the Board of Directors on 30 April 2024. 1. BASIS OF PREPARATION (a) Statement of compliance The financial statements of the Group are prepared under the historical cost convention and modified to include other bases of valuation as disclosed in other sections under significant accounting policies, and in compliance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. During the current financial period, the Group has adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):- MFRSs and/or IC Interpretations (Including the Consequential Amendments) Amendments to MFRS 3: Reference to the Conceptual Framework Amendments to MFRS 116: Property, Plant and Equipment – Proceeds before Intended Use Amendments to MFRS 137: Onerous Contracts – Costs of Fulfilling a Contract Annual Improvements to MFRS Standards 2018 – 2020 The adoption of the above accounting standards and/or interpretations (including the consequential amendments, if any) did not have any material impact on the Group’s financial statements. Financial Statements DAGANG NeXCHANGE BERHAD 198 NOTES TO THE FINANCIAL STATEMENTS
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