NOTES
TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2016
(In Singapore dollars)
49
MTQ CORPORATION LIMITED
1.
CORPORATE INFORMATION
MTQ Corporation Limited (the “Company”) is a limited liability company incorporated and domiciled in Singapore
and is listed on the Singapore Exchange Securities Trading Limited (SGX-ST).
The registered office and principal place of business of the Company is located at 182 Pandan Loop, Singapore
128373.
The principal activities of the Company relate to those of an investment holding and management company.
The nature of the operations and principal activities of the subsidiaries are described in Note 29. There have been
no significant changes in the nature of these activities during the financial year.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1
Basis of preparation
The consolidated financial statements of the Group and the balance sheet and statements of changes in equity of
the Company have been prepared in accordance with Singapore Financial Reporting Standards (FRS).
The financial statements have been prepared on the historical cost basis except as disclosed in the accounting
policies below.
The financial statements are presented in Singapore dollars ($ or SGD) and all values in the tables are rounded to
the nearest thousand ($’000) as indicated.
2.2
Changes in accounting policies and estimates
The accounting policies adopted are consistent with those of the previous financial year except in the current
financial year, the Group has adopted all the new and revised standards which are effective for annual financial
periods beginning on or after 1 April 2015. The adoption of these standards did not have any effect on the financial
performance or position of the Group and the Company.
Except as disclosed in Note 12, there were no other changes in estimates applied by the Group during the financial
year.
2.3
Standards issued but not yet effective
The Group has not adopted the following standards applicable to the Group that have been issued but not yet
effective:
Description
Effective for annual periods
beginning on or after
Amendments to FRS 27
Equity Method in Separate Financial Statements
1 January 2016
Amendments to FRS 16 and FRS 38
Clarification of Acceptable Methods of
Depreciation and Amortisation
1 January 2016
Amendments to FRS 111
Accounting for Acquisitions of Interests in Joint
Operations
1 January 2016
Improvements to FRSs (November 2014)
1 January 2016
(a) Amendments to FRS 105 Non-Current Assets Held for Sale and Discontinued
Operations
1 January 2016
