AmendmentstoMFRS121TheEffectsofChangesin ForeignExchangeRatesLackofExchangeability Effective date deferred by Malaysian Accounting Standards Board: AmendmentstoMFRS10ConsolidatedFinancialStatementsandMFRS128InvestmentsinAssociatesandJointVenturesSaleorContributionofAssetsbetweenanInvestoranditsAssociateorJointVenture NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 215 2 BASIS OF PREPARATION (CONTINUED) (b) Amendments to the published standards that are applicable to the Group and the Company but not yet effective. (continued) The amendments to published standards are not expected to have a material impact on the financial statements of the Group and the Company. There are no other standards, amendments and improvements to published standards and interpretations to existing standards that are not effective that would be expected to have a material impact on the Group and the Company. 3 SUMMARY OF MATERIAL ACCOUNTING POLICIES The material accounting policies applied in the preparation of these consolidated financial statements are set outbelow and within the respective notes to the financial statements line items. (a) Subsidiaries and basis of consolidation (i) Subsidiaries Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when: • exposed to, or has rights to, variable returns from its involvement with the entity; • has the ability to affect those returns through its power to direct the relevant activities of the entity; and • the existence and effect of potential voting rights are considered only when such rights are substantive when assessing control. In the Company’s separate financial statements, investments in subsidiaries are stated at cost less accumulated impairment losses. On disposal of such investments, the difference between net disposal proceeds and their carrying amounts are included in the statement of profit or loss. (ii) Basis of consolidation The consolidated financial statements comprise the