List of Amended Standards and Accounting Guideline issued that are applicable to December 2022 year-end

Hong Kong Financial Reporting Standards UpdateSection I. Amended Standards and Accounting Guideline issued that are applicable to December 2022 year-endStandards affectedNew standard and amendments relate toMembers' HandbookAnnual Improvements ProjectAnnual Improvements to HKFRSs 2018-2020(amendments)

Update No. 240HKFRS 3, HKAS 16 andHKAS 37Narrow-scope amendments (amendments)

Update No. 240HKFRS 16Covid-19-Related Rent Concessions beyond2021 (amendments)*Update No. 258AG 5 (Revised)

Revised Accounting Guideline 5 MergerAccounting for Common Control CombinationsUpdate No. 252* Effective for accounting periods beginning on or after 1 April 2021. Earlier application is permitted, including in financialstatements – interim or annual – not authorised for issue at 9 April 2021.Section II. New and amended Standards and Interpretations issued that are not yet effective, but may beadopted earlyStandards affectedNew standard and amendmentsrelate toMembers'HandbookEffective dateHKAS 1 and HKFRSPractice Statement 2Disclosure of Accounting Policies(amendments)

Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 8Definition of Accounting Estimates(amendments)

Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 12Deferred tax related to assets andliabilities arising from a singletransaction (amendments)

Update No. 262Accounting periods beginningon or after 1 January 2023HKFRS 17Insurance Contracts (newstandard)

Update No. 211Accounting periods beginningon or after 1 January 2023HKFRS 17Amendments to HKFRS 17Update No. 247Accounting periods beginningon or after 1 January 2023HKFRS 17Initial Application of HKFRS 17and HKFRS 9—ComparativeInformationUpdate No. 271Accounting periods beginningon or after 1 January 2023Amendments to HKAS 1Classification of Liabilities asCurrent or Non-current(amendments)#Update No. 243and Update No.Accounting periods beginningon or after 1 January 2024Amendments to HKAS 1Non-current Liabilities withCovenants (amendments)#Update No. 283Accounting periods beginningon or after 1 January 2024Amendments to HKFRS 16Lease Liability in a Sale andLeaseback (amendments)

Update No. 281Accounting periods beginningon or after 1 January 2024HK Int 5 (Revised)

Hong Kong Interpretation 5(Revised) Presentation ofFinancial Statements –Classification by the Borrower of aTerm Loan that Contains aRepayment on Demand Clause(HK Int 5 (Revised))

Update No. 248and Update No.HK Int 5 (Revised) hasincorporated the references toAmendments to HKAS 1Classification of Liabilities asCurrent or Non-current andAmendments to HKAS 1 Non-current Liabilities withCovenants. Both amendmentsare to be applied as apackage and are effective forannual reporting periodsbeginning on or after 1January 2024.Amendments to HKFRS 10and HKAS 28Sale or Contribution of Assetsbetween an Investor and itsAssociate or Joint Venture(amendments)

Update No. 159A date to be determined by theIASB# Both amendments are to be applied as a package.Published on 21 December 2022