Page 192 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS

for the financial year ended 31 december 2020 (continUed)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2.2 Basis of consolidation (continued)
(g) Non-controlling interests
non-controlling interests at the end of the reporting period, being the equity in a subsidiary not attributable
directly or indirectly to the equity holders of the company, are presented in the consolidated statement of financial
position and statement of changes in equity, within equity, separately from equity attributable to the owners of
inteGrated annUal rePort 2020 profit or loss and other comprehensive income as an allocation of the profit or loss and the comprehensive income
the company. non-controlling interests in the results of the Group is presented in the consolidated statement of

for the year between non-controlling interests and the owners of the company.
losses applicable to the non-controlling interests in a subsidiary are allocated to the non-controlling interests even
if doing so causes the non-controlling interests to have a deficit balance.
(h)
Transactions eliminated on consolidation
intra-group balances and transactions, and any unrealised income and expenses arising from intra-group
transactions, are eliminated in preparing the consolidated financial statements.
186
2.3 Foreign currency
(a) Foreign currency transactions
bimb holdinGS berhad 199701008362 (423858-X) monetary assets and liabilities denominated in foreign currencies at the end of the reporting period are retranslated
transactions in foreign currencies are translated to the respective functional currencies of Group entities at
exchange rates at the dates of the transactions.

to the functional currency at the exchange rate at that date.
non-monetary assets and liabilities denominated in foreign currencies are not retranslated at the end of the
reporting date, except for those that are measured at fair value are retranslated to the functional currency at the
exchange rate at the date that the fair value was determined.

foreign currency differences arising on retranslation are generally recognised in the profit or loss. however, foreign
currency differences arising from the translation of an investment in equity securities designated as at fair value
through other comprehensive income (fvoci) are recognised in other comprehensive income (oci).

in the consolidated financial statements, when settlement of a monetary item receivable from or payable to a foreign
operation is neither planned nor likely to occur in the foreseeable future, foreign exchange gains and losses arising from
such a monetary item are considered to form part of a net investment in a foreign operation and are recognised in other
comprehensive income, and are presented in the foreign currency translation reserve (“fctr”) in equity.
(b) Operations denominated in functional currencies other than Ringgit Malaysia (“RM”)

the assets and liabilities of operations denominated in functional currencies other than rm, including fair value
adjustments arising on acquisition, are translated to rm at exchange rates at the end of the reporting period.
the income and expenses of foreign operations are translated to rm at exchange rates at the dates of the transactions.
foreign currency differences are recognised in other comprehensive income and accumulated in the fctr in
equity. however, if the operation is a non-wholly-owned subsidiary, then the relevant proportionate share of the
translation difference is allocated to the non-controlling interests. When a foreign operation is disposed of such
that control, significant influence is lost, the cumulative amount in the fctr related to that foreign operation is
reclassified to profit or loss as part of the gain or loss on disposal.
When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation, the relevant
proportion of the cumulative amount is reattributed to non-controlling interests. When the Group disposes of only
part of its investment in an associate that includes a foreign operation while retaining significant influence, the
relevant proportion of the cumulative amount is reclassified to profit or loss.