KENANGA ANNUAL REPORT 2018

117 ANNUAL REPORT 2018 NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 1. CORPORATE INFORMATION The Bank is principally engaged in the investment banking business, provision of stockbroking and related financial services. The Bank is a public limited liability company incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Sdn. Bhd. The registered office of the Bank is located at Level 17, Kenanga Tower, 237, Jalan Tun Razak, 50400 Kuala Lumpur. The principal activities of the subsidiaries are described in Note 14. There have been no significant changes in the nature of the principal activities during the financial year. The financial statements of the Bank have been approved and authorised for issue in accordance with a resolution of the Board of Directors on 26 March 2019. 2. CHANGES IN ACCOUNTING POLICIES AND REGULATORY REQUIREMENT 2.1 New and amended Malaysian Financial Reporting Standards (“MFRSs”) adopted The accounting policies adopted are consistent with those of the previous financial year except for the adoption of the following new and amended MFRSs, which became effective for the Group and the Bank on 1 January 2018: - MFRS 9: Financial Instruments - MFRS 15: Revenue from Contracts with Customers - Clarifications to MFRS 15: Revenue from Contracts with Customers - Amendments to MFRS 2: Classification and Measurement of Share-based Payment Transactions - Amendments to MFRS 1: First-time Adoption of Malaysian Financial Reporting Standards contained in the documents entitled “Annual Improvements to MFRS Standards 2014-2016 Cycle - Amendments to MFRS 128: Investment in Associates and Joint Venture contained in the documents “Annual Improvements to MFRS Standards 2014-2016 Cycle - Amendments to MFRS 4: Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts - Amendments to MFRS 140: Transfers of Investment Property - IC Interpretation 22: Foreign Currency Transactions and Advance Consideration The adoption of the new and amended MFRSs did not have any significant impact on the financial position or performance of the Group and of the Bank other than the impacts disclosed below: (a) MFRS 9 Financial Instruments MFRS 9 Financial Instruments replaces MFRS 139 Financial Instruments: Recognition and Measurement and all previous versions of MFRS 9 for annual periods on or after 1 January 2018. The Group and the Bank have not restated comparative information for 2017 for financial instruments under the scope of MFRS 9. The comparative information for 2017 has been reported under MFRS 139 and therefore not comparable to the information presented for 2018. Differences arising from the adoption of MFRS 9 have been recognised directly in retained profits and fair value reserves as at 1 January 2018 and are disclosed in Note 5.