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CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES

6 Months Ended

Jun. 30, 2021

CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES

CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES

3.	CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES

At the date of authorization of these financial statements, the IASB has issued a number of amendments, new standards and interpretations which are not yet effective for the six months ended June 30, 2021 and which have not been adopted in these financial statements. These include the following which may be relevant to the Group:


Amendments to IFRS 3	Reference to the Conceptual Framework (1)
Amendments to IAS 16	Property, Plant and Equipment—Proceeds before Intended Use (1)
Amendments to IAS 37	Onerous Contracts—Cost of Fulfilling a Contract (1)
Amendments to IAS 1	Classification of Liabilities as Current or Non-current (2)
Amendments to IFRS 4	Extension of the Temporary Exemption from Applying IFRS 9 (2)
Annual Improvements to IFRS Standards 2018-2020 Cycle	Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, IFRS 16 Leases, and IAS 41 Agriculture (1)

Effective for annual periods beginning on or after January 1, 2022

Effective for annual periods beginning on or after January 1, 2023

The effective date of the amendments has yet to be set by the IASB; however, earlier application of the amendments is permitted

The management of the Company anticipate that the application of all the new and amendments to IFRSs will have no material impact on the consolidated financial statements in the foreseeable future.