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