Page 194 - 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)
2.5 Financial instruments (continued)
(ii) Classification and subsequent measurement (continued)
(b) Financial assets at FVOCI
(i) FVOCI – debt instruments
inteGrated annUal rePort 2020 designated as at fvtPl:
a debt instrument is measured at fvoci if it meets both of the following conditions and is not

• it is held within a business model whose objective is achieved by both collecting contractual cash
flows and selling financial assets; and
• its contractual terms give rise on specified dates to cash flows that are solely payments of principal
and profit on the principal amount outstanding.
these assets are subsequently measured at fair value. any gain or loss arising from a change in the
fair value is recognised in the fair value reserve through other comprehensive income except for
188 impairment losses, profit income and foreign exchange gains and losses arising from monetary items
which are recognised in profit or loss. on derecognition or disposal, the cumulative gains or losses
previously recognised in other comprehensive income is reclassified from equity into profit or loss.
Profit calculated for a debt instrument using the effective profit method is recognised in the profit
bimb holdinGS berhad 199701008362 (423858-X) on initial recognition of an equity instrument that is not held for trading, the Group and the
or loss.
(ii)
FVOCI – equity instruments

company may irrevocably elect to present subsequent changes in the investment’s fair value in oci.
this election is made on an investment-by-investment basis.
these assets are subsequently measured at fair value. dividends are recognised as income in profit or
loss unless the dividend clearly represents a recovery of part of the cost of the investment. other net
gains and losses are recognised in oci and are never reclassified to profit or loss.
Financial assets at FVTPL
(c)
all financial assets not classified as measured at amortised cost or fvoci as described above are measured
at fvtPl. this includes all derivative financial assets. on initial recognition, the Group and the company may
irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised
cost or at fvoci as at fvtPl if doing so eliminates or significantly reduces an accounting mismatch that
would otherwise arise.
these financial assets are subsequently measured at their fair values and any gain or loss arising from a
change in the fair value will be recognised in the profit or loss.