Annual Report 2016
69
QL Resources Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main
Market of Bursa Malaysia Securities Berhad. The address of its registered office and principal place of business is as
follows:
Registered office/Principal place of business
No. 16A, Jalan Astaka U8/83
Bukit Jelutong
40150 Shah Alam
Selangor Darul Ehsan
The consolidated financial statements of the Company as at and for the financial year ended 31 March 2016 comprise the
Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the
Group’s interest in associates. The financial statements of the Company as at and for the financial year ended 31 March
2016 do not include other entities.
The Company is principally engaged in investment holding, whilst the principal activities of the subsidiaries are as stated
in Note 33 to the financial statements. There has been no significant change in the nature of these activities during the
financial year.
These financial statements were authorised for issue by the Board of Directors on 1 July 2016.
1. Basis of preparation
(a) Statement of compliance
The financial statements of the Group and of the Company have been prepared in accordance with Financial
Reporting Standards (“FRS”) and the requirements of the Companies Act, 1965 in Malaysia.
The following are accounting standards, interpretations and amendments that have been issued by the Malaysian
Accounting Standards Board (“MASB”) but have not been adopted by the Group and the Company:
FRSs, Interpretations and amendments effective for annual periods beginning on or after 1 January 2016
• FRS 14, Regulatory Deferral Accounts
• Amendments to FRS 5, Non-current Assets Held for Sale and Discontinued Operations (Annual Improvements
2012-2014 Cycle)
• Amendments to FRS 7, Financial Instruments: Disclosures (Annual Improvements 2012-2014 Cycle)
• Amendments to FRS 10, Consolidated Financial Statements, FRS 12, Disclosure of Interests in Other Entities
and FRS 128, Investments in Associates and Joint Ventures – Investment Entities: Applying the Consolidation
Exception
• Amendments to FRS 11, Joint Arrangements – Accounting for Acquisitions of Interests in Joint Operations
• Amendments to FRS 101, Presentation of Financial Statements – Disclosure Initiative
• Amendments to FRS 116, Property, Plant and Equipment and FRS 138, Intangible Assets – Clarification of
Acceptable Methods of Depreciation and Amortisation
• Amendments to FRS 119, Employee Benefits (Annual Improvements 2012-2014 Cycle)
• Amendments to FRS 127, Separate Financial Statements – Equity Method in Separate Financial Statements
• Amendments to FRS 134, Interim Financial Reporting (Annual Improvements 2012-2014 Cycle)
FRSs, Interpretations and amendments effective for annual periods beginning on or after 1 January 2017
• Amendments to FRS 107, Statement of Cash Flows – Disclosure Initiative
• Amendments to FRS 112, Income Taxes – Recognition of Deferred Tax Assets for Unrealised Losses
FRSs, Interpretations and amendments effective for annual periods beginning on or after 1 January 2018
• FRS 9, Financial Instruments (2014)
FRSs, Interpretations and amendments effective for a date yet to be confirmed
• Amendments to FRS 10, Consolidated Financial Statements and FRS 128, Investments in Associates and
Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
NOTES TO THE FINANCIAL STATEMENTS
