Page 52 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

▶ provide disclosures on management-defined performance measures (MPMs) in the notes
to the financial statements,

▶ improve aggregation and disaggregation.
IFRS 18 requires retrospective application with specific transition provisions. An entity is
required to apply IFRS 18 for annual reporting periods beginning on or after January 1, 2027,
with earlier application permitted.
The Group is in the process of assessing the impact of the above new standards on the
consolidated financial statements of the Group.

IFRS 19 Subsidiaries without Public Accountability: Disclosures
The new standard, IFRS 19 specifies the disclosure requirements an eligible subsidiary
is permitted to apply instead of the disclosure requirements in other IFRS Accounting
Standards. An entity is required to apply IFRS 19 for annual reporting periods beginning on
or after January 1, 2027. This standard is not expected to have an impact on the consolidated
financial statements.

Amendments to IFRS 9 and IFRS 7 - Classification and Measurement of Financial
Instruments
An entity is required to apply these amendments for annual reporting periods beginning on or
after January 1, 2026. The amendments include:

▶ A clarification that a financial liability is derecognized on the ‘settlement date’ and
introduce an accounting policy choice (if specific conditions are met) to derecognize
financial liabilities settled using an electronic payment system before the settlement
date.
▶ Additional guidance on how the contractual cash flows for financial assets with
environmental, social and corporate governance (ESG) and similar features should be
assessed.
▶ Clarifications on what constitute ‘non-recourse features’ and what are the characteristics
of contractually linked instruments.
▶ The introduction of disclosures for financial instruments with contingent features and
additional disclosure requirements for equity instruments classified at fair value through
other comprehensive income (OCI).
The Group is in the process of assessing the impact of the above new standards on the
consolidated financial statements of the Group.

Translation to a Hyperinflationary Presentation Currency (Amendments to IAS 21)
The amendments clarify how companies should translate financial statements from a non-
hyperinflationary currency into a hyperinflationary one.

The amendments are required to be applied retrospectively with specific transition provisions.
The amendment are applicable for annual reporting periods beginning on or after January 1,
2027, with earlier application permitted.

50 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.