245 FINANCIAL STATEMENTS Integrated Annual Report 2025 NOTES TO THE FINANCIAL STATEMENTS 31 December 2025 2. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICIES (CONT’D) 2.3 Standards and interpretations issued but not yet effective The standards and interpretations that are issued but not yet effective are disclosed below. The Group and the Fund intend to adopt these standards, if applicable, when they become effective. Description Effective for annual periods beginning on or after Amendments to MFRS 9 and MFRS 7: Classification and Measurement of Financial Instruments 1 January 2026 Amendments to MFRS 9 and MFRS 7: Contracts referencing naturedependent electricity 1 January 2026 Annual Improvements to MFRSs - Volume 11 1 January 2026 MFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 MFRS 19 Subsidiaries without Public Accountability: Disclosure 1 January 2027 Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred The Group and the Fund expect that the adoption of the above standards and interpretations will have no material impact on the financial statements in the period of application. 2.4 Material accounting policies (a) Basis of consolidation The consolidated financial statements comprise the financial statements of the Fund and its subsidiaries as at the reporting date. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has: (i) Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee); (ii) Exposure, or rights, to variable returns from its investment with the investee; and (iii) The ability to use its power over the investee to affect its returns. Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: (i) The contractual arrangement(s) with the other vote holders of the investee (ii) Rights arising from other contractual arrangements; and (iii) The Group’s voting rights and potential voting rights
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