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INTEGRATED REPORT 2016

Application of new and revised International Financial Reporting Standards (IFRSs)

The Group has not applied the following new and revised IFRSs that have been issued but are not yet effective:

New or amended standards or interpretations Effective date* - for annual periods beginning on or after
IFRS 2 “Classification and Measurement of Share-based Payment Transactions" 1 January 2018
IAS 40 “Transfers of objects of investment property” 1 January 2018
IFRS 9 “Financial Instruments” 1 January 2018
IFRS 15 “Revenue from Contracts with Customers (and the related Clarifications)” 1 January 2018
IFRS 16 “Leases” 1 January 2019
Amendments to IFRS 10 and IAS 28 – “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture” Date to be determined by the IASB**
Amendments to IAS 7 “Disclosure initiative” 1 January 2017
Amendments to IAS 12 – “Recognition of Deferred Tax Assets for Unrealised Losses” 1 January 2017
Amendments to IFRS 4 – “Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts” 1 January 2018
IFRIC 22 “Foreign Currency Transactions and Advance Consideration” 1 January 2018
Amendments to IAS 40 – “Transfers of Investment Property” 1 January 2018
Annual Improvements to IFRSs 2014-2016 Cycle 1 January 2017

The Group is currently considering the potential impact of the adoption of these standards and amendments on the Group’s consolidated financial statements.

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