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3. Changes in Accounting Policies (cont’d.)
(a) Adoption of new and revised MFRSs (cont’d.)
The adoption of the above standards and interpretations did not have any significant effect on the financial statements of
the Group and of the Company except as discussed below:
MFRS 13 Fair Value Measurement
MFRS 13 establishes a single source of guidance under MFRS for all fair value measurements. MFRS 13 does not change
when an entity is required to use fair value, but rather provides guidance on how to measure fair value under MFRS.
MFRS 13 defines fair value as an exit price. As a result of the guidance in MFRS 13, the Group re-assessed its policies
for measuring fair values, in particular, its valuation inputs such as non-performance risk for fair value measurement of
liabilities. MFRS 13 also requires additional disclosures.
Application of MFRS 13 has not materiality impacted the fair value measurement of the Group. Additional disclosures
where required, are provided in Note 28(h).
(b) Standards issued but not yet effective
The standards and interpretations that are issued but not yet effective up to the date of issuance of the Group’s and the
Company’s financial statements are disclosed below. The Group and the Company intend to adopt these standards, if
applicable, when they become effective.
Effective for annual
periods beginning
Description
on or after
Amendments to MFRS 10, MFRS 12 and MFRS 127: Investment Entities
1 January 2014
Amendments to MFRS 132: Offsetting Financial Assets and Financial Liabilities
1 January 2014
Amendments to MFRS 136: Recoverable Amount Disclosures for Non-Financial Assets
1 January 2014
Amendments to MFRS 139: Novation of Derivatives and Continuation of Hedge Accounting
1 January 2014
IC Interpretation 21: Levies
1 January 2014
Amendments to MFRS 119: Defined Benefit Plans: Employee Contributions
1 July 2014
Annual Improvements to MFRSs 2010–2012 Cycle
1 July 2014
Annual Improvements to MFRSs 2011–2013 Cycle
1 July 2014
MFRS 9: Financial Instruments (IFRS 9 issued by IASB in November 2009)
To be announced
MFRS 9: Financial Instruments (IFRS 9 issued by IASB in October 2010)
To be announced
MFRS 9: Financial Instruments: Hedge Accounting and amendments to MFRS 9,
MFRS 7 and MFRS 139
To be announced
The directors expect that the adoption of the above standards and interpretations will have no material impact on the
financial statements in the period of initial application except as discussed below:
NOTES TO THE FINANCIAL STATEMENTS
31 December 2013
DiGi.COM BERHAD (425190-X)
ANNUAL REPORT 2013
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