Malaysian Financial Reporting Standard 11

Joint Arrangements
In November 2011 the Malaysian Accounting Standards Board (MASB) issuedMFRS 11
Joint Arrangements
. The Standard is applicable for annual
periods beginning on or after 1 January 2013. MFRS 11 is equivalent to IFRS 11
Joint Arrangements
as issued and amended by the International Accounting Standards Board.
About IFRS 11

In April 2001 the International Accounting Standards Board (IASB) adoptedIAS 31

Financial Reporting of Interests in Joint Ventures
, which had originally been issued by the International Accounting Standards Committee
in December1990.In December 2003 the IASB amended and renamed IAS 31 with a new title
—
Interests in Joint Ventures
. This amendment was done in conjunction withamendments to IAS 27
Consolidated Financial Statements and Accounting for Investments in Subsidiaries
and IAS 28
Accounting for Investments in Associates
.In May 2011 the IASB issued IFRS 11
Joint Arrangements
to replace IAS 31.IFRS 12
Disclosure of Interests in Other Entities
, also issued in May 2011, replacedthe disclosure requirements in IAS 31. IFRS 11 incorporated the
guidancecontained in a related Interpretation (SIC-13
Jointly Controlled Entities-Non- Monetary Contributions by Venturers
).In June 2012 IFRS 11 was amended by
Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition
Guidance
(Amendments to IFRS 10, IFRS 11 and IFRS 12). These amendments providedadditional transition relief
to IFRS 11, limiting the requirement to present adjustedcomparative information to only the annual
period immediately preceding the firstannual period for which IFRS 11 is applied.
Amendment with an effective date later than 1 January 2015
MFRS 11 has been amended by:


Accounting for Acquisitions of Interests in Joint Operations

(Amendments to MFRS 11)The amendment has an effective date after 1 January 2015 and is therefore
notincluded in this edition.