NOTES TO THE FINANCIAL STATEMENTS 1. CORPORATE INFORMATION The Company is an investment holding company and is also involved in oil palm plantation operations. The principal activities of the subsidiaries and associates are disclosed in Note 38. The Company is a public limited liability company, incorporated and demiciled in Malaysia and was listed on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia). The registered office of the Company is Level 23, The Bousteador, No. 10, Jalan PJU 7/6, Mutiara Damansara, 47800 Petaling Jaya, Selangor. The Immediate Holding Company was Boustead Holdings Berhad (BHB), a public limited liability company. BHB is incorporated and domiciled in Malaysia and was listed on the Bursa Malaysia. The Ultimate Holding Corporation was Lembaga Tabung Angkatan Tentera (LTAT), a local statutory body establised by the Tabung Angkatan Tentera Act, 1973. On 15 November 2023, the immediate holding company changed from BHB to LTAT. On 23 January 2024, the Company was delisted from the Bursa Malaysia following the acquisition by LTAT. The Company 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 5 April 2024. 2. CHANGES IN ACCOUNTING POLICIES The accounting policies adopted are consistent with those of the previous financial year, except in the current period, the Group and the Company adopted the following new and amended Malaysian Financial Reporting Standards (MFRSs) mandatory for annual financial periods beginning on or after 1 January 2023: 2.1 Adoption of new standards effective 1 January 2023 Effective for annual periods Description beginning on or after MFRS 17: Insurance Contracts (including amendments on initial Application on MFRS 17 1 January 2023 and MFRS 9 - Comparative Information) Amendments to MFRS 101 and MFRS Practise Statement 2: Disclosure of Accounting Policies 1 January 2023 Amendments to MFRS 108: Definition of Accounting Estimates 1 January 2023 Amendments to MFRS 112: Deferred Tax related to Assets and Liabilities arising 1 January 2023 from Single Transaction Amendments to MFRS 112: International Tax Reform - Pillar Two Modules Rules 1 January 2023 The adoption of the above new and amended MFRSs did not have any significant financial impact to the Group and the Company. Boustead Plantations Berhad 214
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