NOTES TO THE FINANCIAL STATEMENTS 1. CORPORATE INFORMATION Sasbadi Holdings Berhad (“the Company”) is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office of the Company is located at Lot 5, Level 10, Menara Great Eastern 2, No. 50, Jalan Ampang, 50450 Kuala Lumpur, W.P. Kuala Lumpur. The principal place of business of the Company is located at Lot 12, Jalan Teknologi 3/4, Taman Sains Selangor 1, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan, Malaysia. The consolidated financial statements of the Company for the financial year ended 31 August 2023 comprise the Company and its subsidiaries (together referred to as “the Group”). These financial statements are presented in Ringgit Malaysia (‘RM’), which is also the functional currency of the Company. All financial information presented in RM has been rounded to the nearest thousand, unless otherwise stated. The financial statements were authorised for issue in accordance with a resolution by the Board of Directors on 7 December 2023. 2. PRINCIPAL ACTIVITIES The Company is principally engaged in investment holding activities whilst the Group’s subsidiaries are principally involved in the publishing and distribution of printed and digital education materials and related activities. The details of the Group’s subsidiaries are set out in Note 8 to the financial statements. There has been no significant change in the nature of these activities during the financial year. 3. BASIS OF PREPARATION The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (‘MFRSs’), International Financial Reporting Standards (‘IFRSs’) and the provisions of the Companies Act 2016 in Malaysia. The accounting policies adopted are consistent with those of the previous financial year except for the effects of adoption of new MFRSs during the financial year. The new MFRSs and Amendments to MFRSs adopted during the financial year are disclosed in Note 4.1 to the financial statements. The financial statements of the Group and of the Company have been prepared under the historical cost convention except as otherwise stated in the financial statements. ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 92 Financial Statements (continued)
RkJQdWJsaXNoZXIy NDgzMzc=