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Applications of New and Revised IFRS and IAS and IFRIC and SIC and IASB
 6 Months Ended
Jun. 30, 2024
Application of New and Revised International Financial Reporting Standards Ifrs International Accounting Standards Ias International Financial Reporting Interpretations Committee Ifric Interpretations an [Abstract]  
Applications of new and revised IFRS and IAS and IFRIC and SIC and IASB

3. 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”)

 

a)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 16, ‘Lease liability in a sale and leaseback’   January 1, 2024
Amendments to IAS 1, ‘Classification of liabilities as current or noncurrent’   January 1, 2024
Amendments to IAS 1, ‘Non-current liabilities with covenants’   January 1, 2024
Amendments to IAS 7 and IFRS 7, ’Supplier finance arrangements’   January 1, 2024

 

The Group has adopted the above new standards, interpretations and amendments as of the effective date. Based on the Group’s assessment, the above standards and interpretations have no significant impact to the Group’s financial condition and financial performance.

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

 

New standards, interpretations and amendments in issue but not yet effective are as follows:

 

New Standards, Interpretations and Amendments   Effective date issued by IASB
Amendments to IAS 21, ‘Lack of exchangeability’   January 1, 2025
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 18, “Presentation and disclosure in financial statements”   January 1, 2027

 

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