FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 350 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 62 FIRST TIME ADOPTION OF MFRS FRAMEWORK (CONTINUED) Impact of first time adoption of MFRS framework (continued) (b) Change in accounting policy upon application of MFRS 9 (continued) The adjustments made to the Group’s statements of financial position in respect of items within the scope of MFRS 9 are as follows: Measurement category Carrying amount Group Previous accounting framework (FRS 139) New accounting framework (MFRS 9) 31.12.2017 RM’000 Reclassifications RM’000 Impairment RM’000 1.1.2018 RM’000 Non-current financial asset AFS - debt securities AFS - 66,575 (66,575) - - FVTPL - FVPL - 66,575 - 66,575 AFS - equity securities AFS - 91,302 (91,302) - - FVOCI - FVOCI - 91,302 - 91,302 Current financial assets Receivables Loan and receivables Amortised cost 1,376,916 - (9,760) 1,367,156 Amount due from a significant shareholder Loan and receivables Amortised cost 215,389 - (12,470) 202,919 Amount due from joint ventures Loan and receivables Amortised cost 472,938 - (478) 472,460 Amount due from other related companies Loan and receivables Amortised cost 146,789 - (8,264) 138,525 Investment in equity securities AFS - 6,409 (6,409) - - Investment in equity securities - FVPL - 6,409 - 6,409 Non-current liabilities Borrowings Amortised cost Amortised cost 733,234 - - 733,234 Capital and reserves Other reserves: - FVOCI reserves - (12,811) - (12,811) - AFS reserves (6,235) 6,235 - - Retained earnings 1,559,579 6,576 (31,468) 1,534,687 Non-controlling interests 2,255,932 - 496 2,256,428 No adjustments made to the Company’s statement of financial position in respect of items within the scope of MFRS 9.