YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 228 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 4. STANDARDS, AMENDMENTS TO PUBLISHED STANDARDS AND INTERPRETATIONS TO EXISTING STANDARDS THAT ARE APPLICABLE TO THE GROUP AND THE COMPANY BUT NOT YET EFFECTIVE (a) Financial year beginning on/after 1 February 2024 (i) Amendments to MFRS 16 “Lease Liability in a Sale and Leaseback” Amendments to MFRS 16 “Lease Liability in a Sale and Leaseback” specify the measurement of the lease liability arises in a sale and leaseback transaction that satisfies the requirements in MFRS 15 “Revenue from Contracts with Customers” to be accounted for as a sale. In accordance with the amendments, the seller-lessee shall determine the “lease payments” or “revised lease payments” in a way that it does not result in the seller-lessee recognising any amount of the gain or loss that relates to the right of use it retains. The amendments shall be applied retrospectively to sale and leaseback transactions entered into after the date when the seller-lessee initially applied MFRS 16. (ii) Amendments to MFRS 101 “Presentation of Financial Statements” There are two amendments to MFRS 101 “Presentation of Financial Statements”. The first amendments, “Classification of liabilities as current or non-current” clarify that liabilities are classified as either current or noncurrent, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the entity’s expectations or events after the reporting date (e.g. the receipt of a waiver or a breach of covenant). The second amendments, “Non-current Liabilities with Covenants” specify that covenants of loan arrangements which an entity must comply with only after the reporting date would not affect classification of a liability as current or non-current at the reporting date. However, those covenants that an entity is required to comply with on or before the reporting date would affect classification of a liability as current or non-current, even if the covenant is only assessed after the reporting date. The amendments shall be applied retrospectively. (iii) Amendments to MFRS 107 and MFRS 7 “Supplier Finance Arrangements” The amendments require entities to disclose information about the supplier finance arrangements (‘SFA’) that enable the users to understand the effects of SFA on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments requires the following information about SFA to be disclosed in the annual period in which the amendments are first applied: (a) the terms and conditions of SFAs; (b) the carrying amount of financial liabilities that are part of SFAs and the line items in which those liabilities are presented; (c) the carrying amount of the financial liabilities in (b) for which suppliers have already received payment from the finance providers; (d) the range of payment due dates for both the financial liabilities that are part of SFAs, and comparable trade payables that are not part of such arrangements; (e) the type and effect of non-cash changes in the carrying amounts of the financial liabilities that are part of SFAs; and (f) liquidity risk information (e.g. concentration of risks; access to SFA facilities for liquidity requirement).
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