189 ACCOUNTABILITY (FINANCIAL STATEMENTS) NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2023 1. Corporate information Yinson Holdings Berhad (the "Company") is a public limited liability company, incorporated and domiciled in Malaysia, and is listed and quoted on the Main Market of Bursa Malaysia Securities Berhad. The registered office and principal place of business of the Company is Level 16, Menara South Point, Mid Valley City, Medan Syed Putra Selatan, 59200 Kuala Lumpur. The principal activities of the Company are investment holding and provision of management services. The principal activities of the subsidiaries, joint ventures and associates are disclosed in Note 48 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. The financial statements are presented in Ringgit Malaysia (“RM”), which is also the Company’s functional currency. Unless otherwise indicated, the amounts in these financial statements have been rounded to the nearest million. 2. Summary of significant accounting policies Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial statements. 2.1 Basis of preparation The financial statements of the Group and Company have been prepared in accordance with the Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards (“IFRS”) and the requirements of the Companies Act 2016 in Malaysia. The financial statements have been prepared under the historical cost convention unless otherwise indicated in this summary of significant accounting policies. The preparation of financial statements in conformity with MFRS and IFRS requires the use of certain critical accounting estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported period. It also requires Directors to exercise their judgement in the process of applying the Group's and Company’s accounting policies. Although these estimates and judgements are based on the Directors’ best knowledge of current events and actions, actual results may differ. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 5. Going concern As at 31 January 2023, the Group's current liabilities exceeded their current assets by RM75 million. As disclosed in Note 41(c), the Group has the continued availability of undrawn borrowing facilities and perpetual securities required to support its current level of operations, and expects that it has sufficient liquidity to meet its liabilities for at least twelve months from the date of these financial statements. Accordingly, these financial statements are prepared on a going concern basis.
RkJQdWJsaXNoZXIy NDgzMzc=