NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) G2 New standards and interpretations not adopted A number of new standards, interpretations and amendments to standards are effective for annual periods beginning after 1 January 2025 and earlier application is permitted; however, the Group has not early adopted the new or amended standards and interpretations in preparing these financial statements. The following new SFRS(I)s, interpretations and amendments to SFRS(I)s are not expected to have a significant impact on the Group’s financial statements. Applicable to 2025 financial statements • Amendments to SFRS(I) 1-21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability Applicable to 2026 financial statements • Amendments to SFRS(I) 9 Financial Instruments and SFRS(I) 7 Financial Instruments: Disclosures: Amendments to the Classification and Measurement of Financial Instruments • Annual Improvements to SFRS(I)s – Volume 11 Applicable to 2027 financial statements • SFRS(I) 18 Presentation and Disclosure in Financial Statements • SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures G3 Climate change The Group has partnered with a global consultant to conduct a climate risks and opportunities assessment of its businesses as part of its journey to align with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The Group has reviewed the physical risks that might impact its businesses under the Representative Concentration Pathway 8.5 scenario and used the International Energy Agency Net Zero Emissions 2050 scenario to assess transition risks. The Group concluded that the climate-related physical and transition risks impacting its businesses were minimal. Notwithstanding, there remains the risk that evolving demands for stronger protection over the environment, evolving laws and regulations and evolving decarbonisation policies may impact the Group’s financial performance in the future. The Group continues to monitor and assess the potential impact of such developments on its operation and financial performance. 257 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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