KENANGA ANNUAL REPORT 2020

137 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD 2. CHANGES IN ACCOUNTING POLICIES AND REGULATORY REQUIREMENT (CONT’D.) 2.4 Measures to assist individuals, SMEs and corporates affected by COVID-19 announced by BNM (cont’d.) Group and Bank Financial investments - bonds and sukuk (on-balance sheet) 2020 RM’000 2019 RM’000 Sectors Oil and gas 62,383 87,802 Hotels and tourism 10,944 12,662 Retail food and non-food 5,121 10,157 78,448 110,621 2.5 Standards issued but not yet effective The following are new MFRSs, amended MFRSs and Interpretation Committee’s (“IC”) Interpretation issued by the Malaysian Accounting Standards Board (“MASB”) that will be effective for the Group and the Bank in future years. The Group and the Bank intend to adopt the relevant standards when they become effective. Description Effective for annual periods beginning on or after Interest Rate Benchmark Reform - Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 Property, Plant and Equipment - Proceeds before Intended Use (Amendments to MFRS 116 Property, Plant and Equipment) 1 January 2022 Onerous Contracts - Cost of Fulfilling a Contract (Amendments to MFRS 137 Provisions, Contingent Liabilities and Contingent Assets) 1 January 2022 Reference to the Conceptual Framework (Amendments to MFRS 3 Business Combinations) 1 January 2022 Annual improvements to MFRS Standards 2018-2020 1 January 2022 MFRS 17: Insurance Contracts 1 January 2023 Amendments to MFRS 17: Insurance Contracts 1 January 2023 Classification of Liabilities as Current or Non-current (Amendments to MFRS 101 Presentation of Financial Statements) 1 January 2023 Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture To be announced by MASB The directors expect that the adoption of the above standards will have no material impact on the financial statements in the period of initial application.