1. Corporate information
The Company is an investment holding company, which also operates an oil palm plantation. The principal
activities of the Subsidiaries and Associates are disclosed on pages 133 and 134.
The Company is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the
Main Market of Bursa Malaysia Securities Berhad. The registered office of the Company is 28th Floor, Menara
Boustead, 69 Jalan Raja Chulan, 50200 Kuala Lumpur.
The Immediate Holding Company is Boustead Holdings Berhad (BHB), a public limited liability company. BHB
is incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad.
The Ultimate Holding Corporation is Lembaga Tabung Angkatan Tentera (LTAT), a local statutory body
established by the Tabung Angkatan Tentera Act, 1973. The Group is a Government related-entity by virtue of
its relationship with LTAT.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution
of the Directors on 25 February 2016.
2. Significant accounting policies
2.1 Basis of preparation
The financial statements of the Group and of the Company are prepared under the historical cost
convention except as disclosed in the accounting policies below and comply with Financial Reporting
Standards (FRS) and the requirements of the Companies Act, 1965 in Malaysia. At the beginning of the
current financial year, the Group and the Company adopted Amendments to FRS as described fully in
Note 2.2.
The financial statements are presented in Ringgit Malaysia (RM) and all values are rounded to the nearest
thousand (RM’000) except when otherwise stated.
2.2 Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the
current financial year, the Group and the Company adopted for the first time the following amended FRS:
Effective for annual period beginning on or after 1 January 2015
Amendments to FRS 119 Defined Benefits Plans: Employee Contributions
Annual improvements to FRSs 2010 – 2012 Cycle
Annual improvements to FRSs 2011 – 2013 Cycle
Adoption of the above amended standards did not have any effect on the financial performance or the
position of the Group and of the Company.
notes to the
financial statements
31 december 2015
an n ual repo rt 2015
71
