Financial Statements - Mewah Group

MEWAH INTERNATIONAL INC.
ANNUAL REPORT 2011
Notes to the Financial Statements
For the financial year ended 31 December 2011
37. Events occurring after statement of financial position date
On 13 February 2012, the Company’s wholly-owned subsidiary, Hua Guan Inc., through its wholly-owned subsidiary Hua Guan
Oleo (S) Pte Ltd, has incorporated a company in the United Arab Emirates, Mewah Oils FZE with registered share capital of
AED1,000,000 (US$272,000).
38. New or revised accounting standards and interpretations
Below are the mandatory standards, amendments and interpretations to existing standards that have been published, and are
relevant for the Group’s accounting periods beginning on or after 1 January 2012 or later periods and which the Group has not
early adopted:
Amendments to FRS 101 – Secure Hyperinflation and Removal of Fixed Prices of First-time Adopters (effective for annual
periods beginning on or after 1 July 2011)
Amendments to FRS 107 Disclosures – Transfers of Financial Assets (effective for annual periods beginning on or after 1 July
2011)
The management anticipates that the adoption of the above FRSs, INT FRSs and amendments to FRS in the future periods will
not have a material impact on the financial statements of the Group and of the Company in the period of their initial adoption.
39. Authorisation of consolidated financial statements
These consolidated financial statements were authorised for issue in accordance with a resolution of the Board of Directors of
Mewah International Inc. on 15 March 2012.
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