ENRA Group Berhad Annual Report 2019

159 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) Notes to the reconciliations (cont’d) (ii) Adoption of MFRS 15 Revenue from Contracts with Customers (cont’d) MFRS 15 replaces MFRS 118 Revenue , MFRS 111 Construction Contracts and related interpretations. (cont’d) The following table presents the impact of changes to the statements of financial position of the Group and of the Company resulting from early adoption of MFRS 15 as at 1 April 2018: As at 31 March 2018 RM’000 Changes RM’000 As at 1 April 2018 RM’000 Group Current assets Trade and other receivables 69,541 (5,977) 63,564 Contract assets - 5,977 5,977 Current liabilities Contract liabilities - - - (iii) Adoption of MFRS 16 Leases As a result of the adoption of MFRS 16 Leases , the existing requirements for a lessee to distinguish between finance leases and operating leases under the MFRS 117 Leases are no longer required. This Standard introduces a single accounting model, requiring the leases to recognise the right-of-use of the underlying lease asset and the future lease payments liabilities in the statements of financial position. For a lessor, MFRS 16 continues to allow the lessor to classify leases as either operating leases or finance leases and to account for these two types of lease differently. The following table presents the impact of changes to the statements of financial position of the Group and of the Company resulting from early adoption of MFRS 16 as at 31 March 2017: Note As at 31 March 2017 RM Changes RM As at 31 March 2017 RM Group Non-current assets Right-of-use assets (a) - 2,526 2,526 Current liabilities Lease liabilities (b) - 1,014 1,014 Non-current liabilities Lease liabilities (b) - 1,588 1,588 Total lease liabilities - 2,602 2,602