NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
33.
CHANGES AND ADOPTION OF FINANCIAL REPORTING STANDARDS
For the current reporting year new or revised Singapore Financial Reporting Standards and the related
Interpretations to FRS (“INT FRS”) were issued by the Singapore Accounting Standards Council. Those applicable
to the reporting entity are listed below. These applicable new or revised standards did not require any modification
of the measurement methods or the presentation in the financial statements.
FRS No.
Title
FRS 1
(early application)
Various
Improvements to FRSs (Issued in January 2014). Relating to FRS 24, Related Party Disclosures
Various
Improvements to FRSs (Issued in February 2014). Relating to FRS 40, Investment Property
34.
NEW OR AMENDED STANDARDS IN ISSUE BUT NOT YET EFFECTIVE
For the future reporting years new or revised Singapore Financial Reporting Standards and the related
Interpretations to FRS (“INT FRS”) were issued by the Singapore Accounting Standards Council and these will only
be effective for future reporting years. Those applicable to the reporting entity for future reporting years are
listed below. The transfer to the applicable new or revised standards from the effective dates is not expected to
result in material adjustments to the financial position, results of operations, or cash flows for the following year.
FRS No.
Title
Effective date for
periods beginning on
or after
FRS 109
Financial Instruments
1 January 2018
FRS 115
1 January 2018
35.
COMPARATIVE FIGURES
Certain comparative figures have been reclassified to conform with current year’s presentation.
ANNUAL REPORT 2015
137
