Fraser & Neave Holdings Bhd Annual Report 2021

The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The address of the registered o&ce of the Company is as follows: Level 3A, F&N Point No. 3, Jalan Metro Pudu 1 Fraser Business Park O! Jalan Yew 55100 Kuala Lumpur The consolidated financial statements of the Company as at and for the financial year ended 30 September 2021 comprise the Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the Group’s interests in associate and joint venture. The Company is principally engaged in investment holding activities while the other Group entities are primarily engaged in the manufacture and sale of soft drinks, dairy and food products, property development activities and the provision of management services. There has been no significant change in the nature of these principal activities during the financial year. Information on the Group’s structure is provided in Notes 8, 9 and 10. Information on other related party relationships of the Group is provided in Note 33. The immediate holding company is Fraser and Neave, Limited (“F&NL”), which is incorporated in the Republic of Singapore and is listed on the Singapore Exchange. The ultimate holding company is TCC Assets Limited, which is incorporated in the British Virgin Islands. These financial statements were authorised for issue by the Board of Directors on 3 November 2021. 1. BASIS OF PREPARATION #A$ STATEMENT OF COMPLIANCE The financial statements of the Group and the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. The following are accounting standards, interpretations and amendments of the MFRSs that have been issued by the Malaysian Accounting Standards Board (“MASB”) but have not been adopted by the Group and the Company: MFRSs, interpretations and amendments e!ective for annual periods beginning on or after 1 January 2021 • Amendments to MFRS 9, Financial Instruments , MFRS 139, Financial Instruments: Recognition and Measurement , MFRS 7, Financial Instruments: Disclosures , MFRS 4, Insurance Contracts and MFRS 16, Leases – Interest Rate Benchmark Reform – Phase 2 MFRSs, interpretations and amendments e!ective for annual periods beginning on or after 1 April 2021 • Amendment to MFRS 16, Leases – Covid-19-Related Rent Concessions beyond 30 June 2021 MFRSs, interpretations and amendments e!ective for annual periods beginning on or after 1 January 2022 • Amendments to MFRS 1, First-time Adoption of Malaysian Financial Reporting Standards (Annual Improvements to MFRS Standards 2018−2020) • Amendments to MFRS 3, Business Combinations – Reference to the Conceptual Framework • Amendments to MFRS 9, Financial Instruments (Annual Improvements to MFRS Standards 2018−2020) • Amendments to Illustrative Examples accompanying MFRS 16, Leases (Annual Improvements to MFRS Standards 2018−2020) • Amendments to MFRS 116, Property, Plant and Equipment − Proceeds before Intended Use • Amendments to MFRS 137, Provisions, Contingent Liabilities and Contingent Assets − Onerous Contracts − Cost of Fulfilling a Contract • Amendments to MFRS 141, Agriculture (Annual Improvements to MFRS Standards 2018−2020) MFRSs, interpretations and amendments e!ective for annual periods beginning on or after 1 January 2023 • MFRS 17, Insurance Contracts • Amendments to MFRS 101, Presentation of Financial Statements – Classification of Liabilities as Current or Non-current and Disclosures of Accounting Policies • Amendments to MFRS 108, Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates • Amendments to MFRS 112, Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction MFRSs, interpretations and amendments e!ective for annual periods beginning on or after a date yet to be confirmed • Amendments to MFRS 10, Consolidated Financial Statements and MFRS 128, Investments in Associates and Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Financial Statements 175 Fraser & Neave Holdings Bhd ! Annual Report 2021 Notes to the Financial Statements