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Notes to the Consolidated Financial Statements

31st March 2016

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.1 Basis of preparation (Continued)

(i) New standards and amendments to existing standards that are effective for the
Group’s accounting period beginning on 1st April 2015:

HKAS 19 (2011) (Amendment) Defined Benefit Plans: Employee Contributions
Annual Improvements Project Annual Improvements HKFRSs 2010-2012 Cycle
Annual Improvements Project Annual Improvements HKFRSs 2011-2013 Cycle

(ii) New standards and amendments to existing standards that are mandatory for the
Group’s accounting periods beginning on or after 31st March 2016 and have not been
early adopted by the Group:

Annual Improvements Project Annual Improvements HKFRSs 2012-2014 Cycle 1
HKFRS 14 Regulatory Deferral Accounts 1
HKFRS 10 and HKAS 28 Sale or Contribution of Assets between an Investor and
(Amendment) its Associate or Joint Venture 1
HKFRS 11 (Amendment) Accounting for Acquisitions of Interests in Joint Operations 1
HKAS 1 (Amendment) Disclosure initiative 1
HKAS 16 and HKAS 38 Clarification of Acceptable Methods of Depreciation and
(Amendment) Amortisation 1
HKAS 16 and HKAS 41 Agriculture: Bearer Plants 1
(Amendment)
HKAS 27 (Amendment) Equity Method in Separate Financial Statements 1
HKFRS 15 Revenue from Contracts with Customers 2
HKFRS 9 Financial Instruments 2
HKFRS 10, HKFRS 12 and Investment entities applying the consolidation exception 1
HKAS 28 (Amendment)

1 Changes effective for annual periods beginning on or after 1st January 2016
2 Changes effective for annual periods beginning on or after 1st January 2018

The Group has already commenced an assessment of the impact of the above new
standards and amendments to existing standards but is not yet in a position to state whether
these new standards and amendments to existing standards would have a significant impact
to its results of operations and financial position.

There are no other HKFRSs or interpretations that are not yet effective and are expected to
have a material impact on the Group.

34 ALCO HOLDINGS LIMITED ANNUAL REPORT 2016