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Annual Report 2013
KPJ HEALTHCARE BERHAD
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MFRS 127 Separate Financial Statements (IAS 27 as amended by IASB in May 2011)
1 January 2013
MFRS 128 Investments in Associates and Joint Ventures
(IAS 28 as amended by IASB in May 2011)
1 January 2013
IC Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine
1 January 2013
Amendments to MFRS 7:
Disclosures – Offsetting Financial Assets and Financial Liabilities
1 January 2013
Annual Improvements 2009-2011 Cycle
1 January 2013
Amendments to MFRS 1: Government Loans
1 January 2013
Amendments to MFRS 10, MFRS 11 and MFRS 12:
Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in
Other Entities: Transition Guidance
1 January 2013
Adoption of the above standards and interpretations did not have any effect on the nancial performance or position of the Group
and of the Company except as discussed below:
MFRS 10 Consolidated Financial Statements
MFRS 10 replaces part of MFRS 127 Consolidated and Separate Financial Statements (MFRS 127) that deals with consolidated
nancial statements and IC Interpretation 112 Consolidation - Special Purpose Entities.
Under MFRS 10, an investor controls an investee when (a) the investor has power over an investee, (b) the investor has exposure,
or rights, to variable returns from its investment with the investee, and (c) the investor has ability to use its power over the investee
to affect the amount of the investor’s returns. This new control model differs from how previously companies were assessed to be
a subsidiary. Under MFRS 127, control was de ned as the power to govern the nancial and operating policies of an entity so as to
obtain bene ts from its activities.
MFRS 10 includes detailed guidance to explain when an investor that owns less than 50 per cent of the voting shares in an investee
has control over the investee. MFRS 10 requires the investor to take into account all relevant facts and circumstances, particularly
the size of the investor’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders. The
application of MFRS 10 has no impact on the Group’s nancial position or performance.
MFRS 11 Joint Arrangements
MFRS 11 replaces MFRS 131 Interests in Joint Ventures and IC Interpretation 113 Jointly-Controlled Entities – Non-monetary
Contributions by Venturers.
2.
Summary of signi cant accounting policies (continued)
2.2
Changes in accounting policies (continued)
Effective for annual
periods beginning
Description
on or after
Notes to the
Financial Statements
For the financial year ended 31 December 2013
(continued)