ENRA Group Berhad Annual Report 2019

155 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 (cont’d) (b) Reconciliation of profit or loss (cont’d) Company 31 March 2018 Previously reported under FRSs RM’000 Effects of MFRS 9 RM’000 Effects of MFRS 16 RM’000 Restated under MFRSs RM’000 Continuing operations Revenue - - - - Cost of sales - - - - Gross profit - - - - Other income 21,231 - - 21,231 Administration expenses (13,452) - 237 (13,215) Other expenses (83) - (186) (269) Lease interest expense - - (73) (73) Finance costs (399) - - (399) Profit/(Loss) before tax 7,297 - (22) 7,275 Tax expense - - - - Profit/(Loss) for the financial year from continuing operations 7,297 - (22) 7,275 Discontinued operations Profit for the financial year from discontinued operations, net of tax 3,327 - - 3,327 Profit/(Loss) for the financial year 10,624 - (22) 10,602 Other comprehensive income/(loss): Foreign currency translations, net of tax - - - - Total comprehensive income/(loss) 10,624 - (22) 10,602 Notes to the reconciliations (i) Adoption of MFRS 9 MFRS 9 replaces MFRS 139 Financial Instruments: Recognition and Measurement for annual periods beginning on or after 1 January 2018, encompassing all three aspects of the accounting for financial instruments: classification and measurement; impairment; and hedge accounting. (a) Classification of financial assets and financial liabilities The Group and the Company classify their financial assets into the following measurement categories depending on the business model of the Group and the Company for managing the financial assets and the terms of contractual cash flows of the financial assets: (i) Those to be measured at amortised cost; and (ii) Those to be measured subsequently at fair value either through other comprehensive income or through profit or loss.