Application of new and revised International Financial Reporting Standards ("IFRS"), International Accounting Standards ("IAS"), International Financial Reporting Interpretations Committee ("IFRIC") Interpretations and Standing Interpretations Committee ("SIC") Interpretations issued by the International Accounting Standards Board ("IASB"), (collectively, "IFRSs")

12 Months Ended

Dec. 31, 2021

Application of new and revised International Financial Reporting Standards (“IFRS”), International Accounting Standards (“IAS”), International Financial Reporting Interpretations Committee (“IFRIC”) Interpretations and Standing Interpretations Committee (“SIC”) Interpretations issued by the International Accounting Standards Board (“IASB”), (collectively, “IFRSs”)

Amendments to IFRSs and the new interpretation that are mandatorily effective for the current year


New Standards, Interpretations and Amendments	Effective date issued by IASB
Amendments to IFRS 4, “Extension of the Temporary Exemption from Applying IFRS 9”		January 1, 2021
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, “Interest Rate Benchmark Reform – Phase 2”		January 1, 2021
Amendments to IFRS 16, “Covid-19-Related Rent Concessions beyond 30 June 2021”		April 1, 2021

Based on the Group’s assessment, the above standards and interpretations have no significant impact on the Group’s financial position and financial performance.

New standards, interpretations and amendments in issue but not yet effective


New Standards, Interpretations and Amendments	Effective date issued by IASB
Amendments to IFRS 3, “Reference to the Conceptual Framework”		January 1, 2022
Amendments to IAS 16, “Property, Plant and Equipment: Proceeds before Intended Use”		January 1, 2022
Amendments to IAS 37, “Onerous Contracts – Cost of Fulfilling a Contract”		January 1, 2022
Annual Improvements to IFRS Standards 2018-2020”		January 1, 2022
Amendments to IFRS 10 and IAS 28, “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”		To be determined by IASB
IFRS 17, “Insurance Contracts”		January 1, 2023
Amendments to IFRS 17, “Insurance Contracts”		January 1, 2023
Amendment to IFRS 17, “Initial Application of IFRS 17 and IFRS 9 – Comparative Information”		January 1, 2023
Amendments to IAS 1, “Classification of Liabilities as Current or Non-current”		January 1, 2023
Amendments to IAS 1, “Disclosure of Accounting Policies”		January 1, 2023
Amendments to IAS 8, “Definition of Accounting Estimates”		January 1, 2023
Amendments to IAS 12, “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”		January 1, 2023

Based on the Group’s assessment, the above standards and interpretations have no significant impact on the Group’s financial position and financial performance.