Maxis Berhad
Annual Report 2015
page
86
1
GENERAL INFORMATION
The principal activity of the Company is investment holding, whilst the principal activities of the Group, comprising the Company and its subsidiaries,
are the provision of mobile, fixed line and international gateway telecommunications services as well as Internet and broadband services, and
corporate support functions for the Group. Details of the principal activities of the subsidiaries are shown in Note 18 to the financial statements.
There have been no significant changes in the nature of the principal activities of the Group and of the Company during the financial year.
The Directors regard BGSM Equity Holdings Sdn. Bhd. as the immediate holding company, BGSM Management Sdn. Bhd. as the intermediate
holding company, Maxis Communications Berhad (“MCB”) as the penultimate holding company and Binariang GSM Sdn. Bhd. (“BGSM”) as the
ultimate holding company. All these companies are incorporated and domiciled in Malaysia.
The address of the registered office of business of the Company is as follows:
Level 21, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
The address of the principal place of business of the Company is as follows:
Level 8, 11, 14 - 25, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
2 BASIS OF PREPARATION
The financial statements of the Group and of the Company have been prepared in accordance with the Malaysian Financial Reporting Standards
(“MFRS”), International Financial Reporting Standards and the requirements of the Companies Act, 1965 in Malaysia. The financial statements have been
prepared under the historical cost convention except as disclosed in the summary of significant accounting policies in Note 3 to the financial statements.
The preparation of financial statements in conformity with MFRS requires the use of certain critical accounting estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and
the reported amounts of revenues and expenses during the reported financial year. It also requires the Directors to exercise their judgment in the
process of applying the Group’s and the Company’s accounting policies. Although these estimates and judgments are based on the Directors’ best
knowledge of current events and actions, actual results may differ.
The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial
statements are disclosed in Note 4 to the financial statements.
(a) Improvements to published standards that are effective and applicable to the Group and the Company
The Group and the Company have applied the following improvements to published standards that are applicable to the Group and the
Company for the first time for the financial year beginning on 1 January 2015:
• Annual Improvements to MFRSs 2010-2012 Cycle
• Annual Improvements to MFRSs 2011-2013 Cycle
The adoption of the above improvements to published standards did not have any significant effect on the consolidated and separate
financial statements of the Group and the Company respectively upon their initial application.
Notes to the Financial Statements
31 December 2015
