62
STAMFORD LAND CORPORATION LTD
Notes to Financial Statements
1
GENERAL
The Company is incorporated in Singapore with limited liability. The financial statements are presented
in Singapore dollars, which is the functional currency of the Company.
The principal activities of the Group consist of investment holding, hotel owning and management,
travel agency, trading and property investment and development.
The principal activity of the Company is that of an investment holding company. It is listed on the
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200 Cantonment Road, #09-01 Southpoint, Singapore 089763. The Company is domiciled in Singapore.
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(i)
Basis of preparation
The financial statements have been prepared in accordance with the Singapore Financial Reporting
Standards (“FRS”). The financial statements are prepared on a going concern basis under the historical
cost basis except as otherwise described in the notes below.
Changes and Adoption of New/Revised Financial Reporting Standards
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that are mandatory for application for the financial year. Changes to the Group’s accounting policies
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INT FRS. The adoption of these new or amended FRS and INT FRS did not result in substantial changes
to the accounting policies of the Group and the Company and had no material effect on the amounts
reported for the current or prior financial years.
Amendments to FRS 19
Employee Benefits Plans: Employee contributions
Amendments to FRS 16
and FRS 38
Property, Plant and Equipment
and
Intangible Assets:
Restatement of accumulated depreciation on revaluation
Amendments to FRS 24
Related Party Disclosures: Definition of related party
Amendments to FRS 40
Investment Property: Clarifying the interrelationship between
FRS 103 and FRS 40 when classifying property as investment
property or owner-occupied property
Amendments to FRS 102
Share-based Payment: Definition of vesting condition
