ANNUAL REPORT 2014
109
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the financial year ended 31 December 2014
29. NEW ACCOUNTING STANDARDS AND FRS INTERPRETATIONS AND AMENDMENTS
(CONTINUED)
• FRS 40 Investment Property (effective for annual periods beginning on or after 1 July 2014)
The standard is amended to clarify that FRS 40 and FRS 103 are not mutually exclusive. The guidance in
FRS 40 assists preparers to distinguish between investment property and owner-occupied property. Preparers
also need to refer to the guidance in FRS 103 to determine whether the acquisition of an investment property
is a business combination.
The Group will apply this amendment for acquisition of investment property taking place on/after 1 January
2015.
• FRS 108 Operating Segments (effective for annual periods beginning on or after 1 July 2014)
The standard is amended to require disclosure of the judgements made by management in aggregating
operating segments. This includes a description of the segments which have been aggregated and the
economic indicators which have been assessed in determining that the aggregated segments share similar
economic characteristics.
The standard is further amended to require a reconciliation of segment assets to the entity’s assets when
segment assets are reported.
This amendment will not result in any changes to the Group’s accounting policies but will require more
disclosures in the financial statements.
30. AUTHORISATION OF FINANCIAL STATEMENTS
These financial statements are authorised for issue in accordance with a resolution of the Board of Directors of Haw
Par Corporation Limited on 27 February 2015.
