ENRA Group Berhad Annual Report 2019

148 ENRA GROUP BERHAD ∞ Annual Report 2019 page Notes to the Financial Statement 31 March 2019 45. ADOPTION OF NEWMFRSs AND AMENDMENTS TO MFRSs (cont’d) 45.2 Explanation of transition to MFRSs The Group and the Company adjusted amounts previously reported in the financial statements that were prepared in accordance with the previous FRS Framework. In preparing the opening statements of financial position at 1 April 2017, an explanation on the impact arising from the transition from FRSs to MFRSs on the financial position and financial performance of the Group and the Company is set out as follows: (a) Reconciliation of financial position and equity Group 1 April 2017 Note Previously reported under FRSs RM’000 Effects of MFRS 9 RM’000 Effects of MFRS 15 RM’000 Effects of MFRS 16 RM’000 Restated under MFRSs RM’000 Non-current assets Property, plant and equipment 3,716 - - - 3,716 Right-of-use assets (iii) - - - 2,526 2,526 Deferred tax assets 1,929 - - - 1,929 Goodwill on consolidation 8,505 - - - 8,505 14,150 - - 2,526 16,676 Current assets Inventories 77,231 - - - 77,231 Trade and other receivables (i),(ii) 81,499 (6) (8,904) - 72,589 Contract assets (ii) - - 8,904 - 8,904 Derivative assets 73 - - - 73 Current tax assets 1,286 - - - 1,286 Cash and bank balances and short term funds 64,065 - - - 64,065 224,154 (6) - - 224,148 Assets held for sale 85,156 - - - 85,156 Total assets 323,460 (6) - 2,526 325,980 Equity Share capital 144,744 - - - 144,744 Redeemable convertible preference share equity 409 - - - 409 Reserves 7,592 (4) - (76) 7,512 152,745 (4) - (76) 152,665 Non-controlling interests 18,260 (2) - - 18,258 Total equity 171,005 (6) - (76) 170,923