KENANGA ANNUAL REPORT 2019

130 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 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 13. 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 16 March 2020. 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 2019: MFRS 16: Leases Amendments to MFRS 9: Prepayment Features with Negative Compensation Amendments to MFRS 128: Long-term interests in Associates and Joint Ventures IC Interpretation 23: Uncertainty Over Income Tax Treatments Amendments to MFRS 3: Business Combinations contained in the documents entitled “Annual Improvements to MFRS Standards 2015-2017 Cycle” Amendments to MFRS 11: Joint Arrangements contained in the documents entitled “Annual Improvements to MFRS Standards 2015-2017 Cycle” Amendments to MFRS 112: Income Tax Consequences of Payments on Financial Instruments Classified as Equity contained in the documents entitled “Annual Improvements to MFRS Standards 2015-2017 Cycle” Capitalisation contained Amendments to MFRS 123: Borrowing Costs Eligible for in the documents entitled “Annual Improvements to MFRS Standards 2015-2017 Cycle” Amendments to MFRS 119: Plan Amendment, Curtailment or Settlement 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 16 Leases MFRS 16 supersedes MFRS 117 Leases, IC Interpretation 4 Determining whether an Arrangement contains a Lease, IC Interpretation 115 Operating Leases-Incentives and IC Interpretation 127 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to recognise most leases on the balance sheet.