(s) New standards
The company adopted the following new IFRS standards and interpretations. The following
amendments and interpretations, which are mandatory for accounting periods beginning on or after
1 January 2007, did give rise to additional disclosures:
. IFRS 7 Financial Instruments: Disclosures and the Amendment to IAS 1 Presentation of
Financial Statements: Capital Disclosures did give rise to additional disclosures about the
signi¢cance of ¢nancial instruments for the Group’s ¢nancial position and performance, and
qualitative and quantitative disclosures on the nature and extent of risks.
The following amendments and interpretations, which are mandatory for accounting periods beginning
on or after 1 January 2007, did not have any effect on the ¢nancial statements of the Group and did not
give rise to additional disclosures:
. IFRS 4 Insurance contracts;
. IFRIC 7 Applying the restatement approach under IAS 29, Financial reporting in hyper-in£ationary
. IFRIC 8 Scope of IFRS 2 Share-based Payments;
. IFRIC 9 Re-assessment of embedded derivatives; and
. IFRIC 10 Interim Financial Reporting and Impairment.
A number of new standards, amendments to standards and interpretations are not yet effective for the
year ended 31 December 2007, and have not been applied in preparing these ¢nancial statements.
. IFRS 8 Operating Segments, which becomes mandatory for the Group’s 2009 ¢nancial statements,
will require the disclosure of segment information based on the internal reports reviewed by the
Group’s Chief Operating Decision Maker in order to assess each segment’s performance and to
allocate resources to them.
. Revised IAS 23 Borrowing Costs will become mandatory for the 2009 ¢nancial statements and this
revised standard removes the option to expense borrowing costs and requires that an entity
capitalise borrowing costs directly attributable to the acquisition, construction or production of a
qualifying asset as part of the cost of the asset. It is not expected to have any impact on the
. IFRIC 11 IFRS2 ^ Group and Treasury Share Transactions requires a share-based payment
arrangement in which an equity receives goods or services as consideration for its own equity
instruments to be accounted for as an equity-settled share-based payment transaction, regardless
of how the equity instruments are obtained. IFRIC 11 will become mandatory for the Group’s 2008
¢nancial statements, with retrospective application required. It is not expected to have any impact
on the consolidated ¢nancial statements.
. IFRIC 14 IAS 19 ^ The Limit on a De¢ned Bene¢t Asset, Minimum Funding Requirements and their
Interaction clari¢es when refunds or reductions in future contributions in relation to de¢ned bene¢t
assets should be regarded as available and provides guidance on the impact of minimum funding
requirements (MFR) on such assets. It also addresses when a MFR might give rise to a liability.
IFRIC 14 will become mandatory for the Group’s and Company’s 2008 ¢nancial statements, with
retrospective application required.
. Revised IAS 1 Presentation of Financial Statements is aimed at improving users ability to analyse and
compare the information given in ¢nancial statements.
. Revised IFRS 3 Business Combinations continues to apply the acquisition method to business
combinations, with some signi¢cant changes. For example, all payments to purchase a business are
to be recorded at fair value at the acquisition date, with some contingent payments subsequently
remeasured at fair value through income. Goodwill may be calculated based on the parent’s share
of net assets or it may include goodwill related to the minority interest. All transaction costs will
. Revised IAS 27 Consolidated and Separate Financial Statements provides mainly guidance on
changes in the ownership interests.