FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 340 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 62 FIRST TIME ADOPTION OF MFRS FRAMEWORK (CONTINUED) Impact of first time adoption of MFRS framework (a) MFRS 15 and MFRS 141 The transition to the MFRS framework have resulted in changes to the Group’s accounting policies when compared to those policies adopted in applying the FRS issued by the Malaysian Accounting Standards Board ( “ MASB ” ). The effects arising from these changes on the Group’s statements of comprehensive income, statements of financial position and statements of cash flows are set out in the reconciliations below: Restatement of comparative figures Group Financial year ended 31 December 2017 As per previous accounting framework RM’000 MFRS 15 RM’000 MFRS 141 RM’000 As per current accounting framework RM’000 Impact on statement of comprehensive income: Revenue 16,939,704 (17,930) - 16,921,774 Cost of sales (Note 63) (14,981,874) (176,963) (9,510) (15,168,347) Selling and distribution costs (370,504) 190,339 - (180,165) Operating profit 499,427 (4,554) (14,493) 480,380 Taxation (203,488) (118) 3,478 (200,128) Profit for the financial period 208,046 (4,672) (6,032) 197,342 Profit attributable to: - Owners of the Company 143,727 (6,860) (5,939) 130,928 - Non-controlling interests 64,319 2,188 (93) 66,414 208,046 (4,672) (6,032) 197,342 Total comprehensive income for the financial year 62,594 (4,672) (6,032) 51,890 Total comprehensive income attributable to: - Owners of the Company 31,569 (6,860) (5,939) 18,770 - Non-controlling interests 31,025 2,188 (93) 33,120 62,594 (4,672) (6,032) 51,890 Earning per share ( “ EPS ” ) attributable to owners of the Company: Basic and diluted EPS (sen) 3.9 3.6