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.