EIH : PT Widja Putra Karya 2024

PT WIDJA PUTRA KARYA

BOARD

Mr. I Wayan Pasek

Mr. Kallol Kundu

Mr. I Putu Sumaniaka

AUDITORS

Purwanto, Sungkaro & Surja

A member firm of Ernst & Young Global Limited Indonesia Stock Exchange Building

Tower 2, 7th Floor,

Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190,

Indonesia

REGISTERED OFFICE

Jl. Kayu Aya - Seminyak Beach,

Kuta, Badung-Bali,

Indonesia

Report of the Directors

We present the report and the audited financial statements of PT Widja Putra Karya (the "Company") for the year ended March 31, 2024.

PRINCIPAL ACTIVITY

The principal activity of the Company is hotel ownership and management.

RESULTS

The Company's financial position and results of operations as of and for the year ended March 31, 2024 are set out in the financial statements on pages 1 to 7 preceded by the independent auditors' report.

• prepare and present the financial statements in accordance with Indonesian Financial Accounting Standards;
• make judgments and estimates that are reasonable and prudent;

We confirm that we have complied with the above requirements in preparing the financial statements and all information contained in the financial statements are complete and correct. The financial statements do not contain or omit misleading information and/or facts.

This statement letter is made truthfully.

Bali, May 10, 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

We are responsible for the preparation and the presentation of the financial statements, and keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company. We are also responsible for the Company's internal control systems and safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In preparing the financial statements of the Company, we are required to:

• select suitable accounting policies and then apply them consistently;

On behalf of the Board of Directors

I Wayan Pasek

President Director

Office address: JI. Kayu Aya, Seminyak Beach, Kuta- Badung

Domicile address: Jl. Sarigading Gg. Gadingmas 9/15 Denpasar

Telephone number: [phone]

PT Widja Putra Karya | Annual Report 2023-24

205

Independent Auditor's Report

Report No. 01307/2.1032/AU.1/10/1175-9/1/V/2024

The Shareholders and the Boards of

Commissioners and Directors

PT Widja Putra Karya

OPINION

We have audited the accompanying financial statements of PT Widja Putra Karya ("the Company"), which comprise the statement of financial position as of March 31, 2024, and the statement of profit or loss and other comprehensive income, statement of changes in equity, and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2024, and its financial performance and cash flows for the year then ended, in accordance with Indonesian Financial Accounting Standards.

BASIS FOR OPINION

We conducted our audit in accordance with Standards on Auditing established by the Indonesian Institute of Certified Public Accountants ("IICPA"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements paragraph of our report. We are independent of the Company in accordance with the ethical requirements relevant to our audit of the financial statements in Indonesia, and we have fulfilled our other ethical responsibilities in accordance with such requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

OTHER MATTER

Our audit was conducted for the purpose of forming an opinion on the basic Indonesian rupiah financial statements taken as a whole. The translations of the Indonesian rupiah amounts into United States Dollar have been made on the basis set forth in Note 2n to the financial statements and are presented for purposes of additional analysis only and are not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and, accordingly, we do not express an opinion thereon.

Responsibilities of management and those charged with governance for the financial statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with Indonesian Financial Accounting Standards, and for such

internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting, unless management either intends to liquidate the Company or to cease its operations or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements taken as a whole are free from material misstatement, whether due to fraud or error, and to issue an independent auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing established by the IICPA will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Standards on Auditing established by the IICPA, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to such risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our audit opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an audit opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

206

• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our independent auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our audit opinion. Our conclusion is based on the audit evidence obtained up to the date of our independent auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure, and content of the financial statements, including the

disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

KAP Purwantono, Sungkoro & Surja

Sd/-

Tjoa Tjek Nien, CPA

Public Accountant Registration No. AP.1175

May 10, 2024

PT Widja Putra Karya | Annual Report 2023-24

207

Statement of Financial Position

As of March 31, 2024

									Translations into U.S. Dollar ($)
				Indonesian Rupiah	Unaudited (Note 2n)
		Notes		As at			As at		As at		As at
			March 31, 2024	March 31, 2023	March 31, 2024	March 31, 2023
ASSETS
CURRENT ASSETS
Cash on hand and in banks		2c,2o,4,18		13,969,966,806			8,889,432,988		881,219		590,189
Trade receivables - third parties		2o,5,18		3,753,156,428			1,829,638,139		236,747		121,474
Inventories		2e,7		2,253,384,371			2,364,265,164		142,142		156,969
Prepayments and advances		2f, 8		2,124,502,435			2,106,923,840		134,013		139,883
Due from related parties		2d,2o,6,18		286,279,015			194,943,591		18,058		12,943
Other current financial assets		2o,6,18		4,915,706,382			55,427,723		310,081		3,680
TOTAL CURRENT ASSETS				27,302,995,437			15,440,631,445		1,722,260		1,025,138
NON-CURRENT ASSETS
Due from related parties		2d, 2o,6,18		3,883,985,000			3,690,190,000		245,000		245,000
Fixed assets - net		2g,9		121,038,566,532			54,778,410,766		7,635,057		3,636,861
Deferred tax assets - net		2m,12c		6,901,612,306			18,649,323,716		435,351		1,238,170
Other non-current assets		2g,10		1,055,037,090			1,131,767,058		66,551		75,141
Estimated claims for tax refund		2m,12b		743,137,368			743,137,368		46,877		49,339
TOTAL NON-CURRENT ASSETS				133,622,338,296			78,992,828,908		8,428,836		5,244,511
TOTAL ASSETS				160,925,333,733			94,433,460,353		10,151,096		6,269,649
									Translations into U.S. Dollar ($)
				Indonesian Rupiah	Unaudited (Note 2n)
		Notes		As at		As at		As at		As at
			March 31, 2024	March 31, 2023	March 31, 2024	March 31, 2023
LIABILITIES AND CAPITAL DEFICIENCY
LIABILITIES
CURRENT LIABILITIES
Trade payables
Third parties		2o,11,18		2,608,260,634			2,819,141,405		164,526		187,169
Other payables
Third parties		2d,2o,18		404,204,868			241,060,887		25,497		16,005
Taxes payable		2m,12a		2,030,556,070			1,508,621,578		128,087		100,161
Accrued expenses		2o,13,18		7,295,368,018			6,611,587,100		460,188		438,958
Reserve for replacement of furniture,
fixtures and equipment	2g,14	11,668,346,175		9,582,797,481	736,034	636,223
Current portion of lease liability		2p,17,18		12,150,187,970		11,371,645,080		766,428		754,989
Other current liabilities		2o,15		10,684,332,858		7,453,423,401		673,963		494,850
Due to a shareholder		2d,6		668,008,876		35,255,478,599		42,138		2,340,690
Due to hotel operator				620,581,030		589,472,416		39,146		39,136
TOTAL CURRENT LIABILITIES				48,129,846,499			75,433,227,947		3,036,007		5,008,181
NON-CURRENT LIABILITY
Long-term employee benefits
liability		2j,16		6,784,328,493			5,596,710,898		427,952		371,578
Lease liability - net of current portion		2p,17,18		62,577,280,615			34,888,441,964		3,947,346		2,316,322
TOTAL NON-CURRENT LIABILITIES				69,361,609,108			40,485,152,862		4,375,298		2,687,900
TOTAL LIABILITIES				117,491,455,607			115,918,380,809		7,411,305		7,696,081
EQUITY (CAPITAL DEFICIENCY)
Capital stock A Series - Rp100,000
par value per share Authorized, issued
and fully paid 11,070 shares	19	1,107,000,000			1,107,000,000	659,603		659,603
Capital stock B Series - Rp1,000,000
par value per share Authorized - 175,150
shares, Issued and fully paid 71.816 shares	19	71,816,000,000			-	4,633,333		-
Additional paid-in capital		2m		3,019,000,000			3,019,000,000		226,635		226,635
Other comprehensive loss
Re-measurement loss on
long-term employee benefits liability		(2,165,283,009)			(1,528,685,106)		(154,097)		(113,941)
Translation adjustment		2n		-			-		(3,770,711)		(3,395,991)
Deficit				(30,342,838,865)			(24,082,235,350)		1,145,028		1,197,262
TOTAL CAPITAL DEFICIENCY				43,433,878,126			(21,484,920,456)		2,739,791		(1,426,432)
TOTAL LIABILITIES AND
EQUITY(CAPITAL DEFICIENCY)				160,925,333,733			94,433,460,353	10,151,096		6,269,649

The accompanying notes to the financial statements form an integral part of these financial statements taken as a whole.

208

Statement of Profit or Loss

And Other Comprehensive Income

For the Year Ended March 31, 2024

								Translations into U.S. Dollar ($)
				Indonesian Rupiah		Unaudited (Note 2n)
		Notes		Year Ended March 31,		Year Ended March 31,
			2024		2023	2024		2023
DEPARTMENTAL REVENUES	2k, 20
Rooms				89,466,995,309		61,779,646,660		5,814,832		4,093,242
Food and beverages				25,987,615,552		19,384,113,048		1,689,043		1,284,304
Other operating departments				7,093,026,867		5,056,962,468		461,005		335,052
Total Departmental Revenues				122,547,637,728		86,220,722,176		7,964,880		5,712,598
COST OF REVENUES		2k,21		45,662,950,356		34,715,537,638		2,967,825		2,300,096
GROSS PROFIT				76,884,687,372		51,505,184,538		4,997,055		3,412,502
HOTEL OPERATING EXPENSES		2k
General and administrative expenses		22		11,932,783,486		10,493,380,024		775,561		695,244
Property operations, maintenance		23		15,668,581,004		14,024,693,042		1,018,367		929,213
and energy expenses
Marketing and sales promotion expenses		24		8,743,107,975		6,232,201,177		568,251		412,918
Total Hotel Operating Expenses				36,344,472,465		30,750,274,243		2,362,179		2,037,375
HOTEL GROSS				40,540,214,907		20,754,910,295		2,634,876		1,375,127
OPERATING PROFIT (LOSS)
OWNER'S OPERATING EXPENSES	2k
Depreciation and amortization				4,431,853,188		3,646,191,156		288,044		241,580
Management fee				5,067,526,862		2,594,363,787		329,360		171,891
Professional fees				4,371,597,840		3,784,989,586		284,128		250,776
Insurance				1,701,121,662		1,566,259,740		110,563		103,773
Salaries and wages				2,246,617,718		1,486,352,096		146,017		98,479
Rental				8,177,093		8,148,560		531		540
Finance income - net				(1,633,031)		(1,136,122)		(106)		(75)
Foreign exchange gains - net				5,456,913,328		4,510,693,321		-		-
Other operating expenses- net				11,885,728,696		8,757,050,630		772,502		580,203
Total Owner's Operating				35,167,903,356		26,352,912,754		1,931,039		1,447,167
Expenses - Net
INCOME (LOSS) BEFORE				5,372,311,551		(5,598,002,460)		703,837		(72,040)
INCOME TAXES
Income tax benefit (expense)		2m,12b		(11,632,915,066)		14,382,085,998		(756,071)		952,893
NET INCOME (LOSS) FOR THE YEAR				(6,260,603,515)		8,784,083,538		(52,234)		880,853
OTHER COMPREHENSIVE INCOME
(LOSS)
Item not to be reclassified
to profit or loss in subsequent periods:
Re-measurement gain/(loss) on long-term
employee benefits liability		(521,801,560)	(233,925,477)	(32,915)	(15,499)
Related income tax				(114,796,343)		(30,863,223)		(7,241)		(2,044)
Item to be reclassified to
profit or loss in subsequent
periods:
Difference in foreign currency
translation		-	-	(374,720)	(198,709)
Other Comprehensive Income (Loss),
Net of Tax		(636,597,903)	(264,788,700)	(414,876 )	(216,252)
TOTAL COMPREHENSIVE INCOME
(LOSS) FOR THE YEAR				(6,897,201,418)		8,519,294,838		(467,110)		664,601

The accompanying notes to the financial statements form an integral part of these financial statements taken as a whole.

PT Widja Putra Karya | Annual Report 2023-24

209

Statement of Changes in Equity

For the Year Ended March 31, 2024

Balance as of March 31, 2022

Income for the year

Re-measurement loss on long-term employee benefits liability

Balance as of March 31, 2023

Loss for the year

Share capital increment

Re-measurement loss on long-term employee benefits liability

Balance as of March 31, 2024

Balance as of March 31, 2022

Net Income for the year

Re-measurement loss on long-term employee benefits liability

Translation adjustment

Balance as of March 31, 2023

Net Income for the year

Share capital increment

Re-measurement loss long-term employee benefits liability

Translation adjustment

Balance as of March 31, 2024

Indonesian Rupiah

Note		Capital Stock		Additional Paid		Other
	Comprehensive	Retained Earnings	Total Equity
	in Capital
				Loss
		1,107,000,000	3,019,000,000	(1,263,896,406)	(32,866,318,888)	(30,004,215,294)
										8,784,083,538
		-	-	-	8,784,083,538
16		-		-		(264,788,700)	-		(264,788,700)
		1,107,000,000		3,019,000,000		(1,528,685,106)	(24,082,235,350)		(21,484,920,456)
		-		-		-	(6,260,603,515)		(6,260,603,515)
19		71,816,000,000		-		-	-		71,816,000,000
16		-		-		(636,597,903)		-		(636,597,903)
		72,923,000,000		3,019,000,000		(2,165,283,009)		(30,342,838,865)		43,433,878,126

Translations into U.S. Dollar - Unaudited (Note 2n)

				Additional				Other
Note		Capital Stock		Paid in		Retained		Translation
				Comprehensive		Total Equity
		Capital		Earnings		Adjustment
						Loss
				(Note 2m)
		659,603		226,635		316,409		(96,398)		(3,197,282)		(2,091,033)
		-		-		880,853		-		-		880,853
16		-		-		-		(17,543)		-		(17,543)
		-		-		-		-		(198,709)		(198,709)
		659,603		226,635		1,197,262	(113,941)		(3,395,991)		(1,426,432)
		-		-		(52,234)		-		-		(52,234)
19	4,633,333	-	-	-		-	4,633,333
16		-		-		-		(40,156)		-		(40,156)
		-		-		-		-		(374,720)		(374,720)
		5,292,936		226,635		1,145,028		(154,097)		(3,770,711)		2,739,791

The accompanying notes to the financial statements form an integral part of these financial statements taken as a whole.

210

Statement of Cash Flows

For the Year Ended March 31, 2024

									Translations into U.S. Dollar ($)
					Indonesian Rupiah		Unaudited (Note 2n)
			Notes		Year Ended March 31,		Year Ended March 31,
					2024		2023		2024		2023
CASH FLOWS FROM
	OPERATING ACTIVITIES
Income (loss) before income taxes				5,372,311,551		(5,598,002,460)		703,837		(72,040)
Adjustments to reconcile
	Income (loss) before income taxes
	for the year to net cash flows
	provided by operating activities:
	Depreciation and amortization		9, 10, 12		4,431,853,189		3,646,191,156		288,142		241,580
	Disposal of fixed assets				-		4,663,293,113		-		308,742
	Provision for replacement of furniture,
	fixtures and equipment	14,23	3,676,429,132	2,586,621,646	238,946	171,378
	Provision for international sales promotion		6,23		3,621,298,855		2,586,621,646		204,361		171,378
	Provision for employee benefits - net		16		665,816,035		(1,100,865,946)		1,843		(73,089)
	Unrealized gain (loss) on forex - net				4,442,172,962		2,093,492,820		-		-
	Interest expense				5,245,204,944		2,102,070,893		39,050		139,244
Changes in operating assets and liabilities:
	Trade receivables				(1,923,518,289)		(1,602,079,851)		(115,273)		(105,615)
	Inventories				110,880,793		(58,323,168)		14,827		3,735
	Other current financial assets				(4,860,278,659)		202,487,862		(306,401)		14,294
	Prepayments and advances				(17,578,595)		(557,338,500)		5,870		(31,890)
	Estimated claim for tax refund				-		-		2,462		2,451
	Trade payables				(210,880,771)		2,045,542,089		22,643		90,197
	Other payables				(3,513,285,151)		(2,354,939,991)		(203,472)		(156,027)
	Taxes payable				636,730,836		1,329,918,339		27,927		99,819
	Accrued expenses				683,780,918		1,884,355,503		21,230		109,511
	Due to hotel operator				31,108,614		589,472,416		10		39,136
	Other current liabilities				3,230.909.457		4,428,668,401		179,113		284,051
Net Cash Flows (Used in) Provided
	by Operating Activities		21,622,955,821	16,887,185,968	1,425,115	1,236,855
CASH FLOWS FROM
	INVESTING ACTIVITIES
	Acquisitions of fixed assets		9,30		(3,266,327,763)		(2,050,526,820)		(118,958)		(135,859)
Cash receipt from sales of fixed assets				-		72,000,000		-		4,770
	Utilization of reserve for replacement of
	furniture, fixtures and equipment	14	(1,590,880,438)	(1,275,384,874)	(177,918)	(84,170)
Net Cash Flows Used in Investing
	Activities		(4,857,208,201)	(3,253,911,694)	(296,876)	(215,259)
CASH FLOWS FROM
	FINANCING ACTIVITY
	Payments of lease liabilities		17		(27,518,450,627)		(157,456,324)		(1,777,209)		(10,435)
	Cash receipts from shareholder				15,655,503,000		-		940,000		-
Payments of (funds provided to) due from				(91,335,424)		(171,898,412)		-		(11,337)
	related parties
	Payments of funds from a shareholder				-		(8,727,431,401)		-		(572,310)
Net Cash Flows Used in Financing Activities				(11,954,283,051)		(9,056,786,137)		(837,209)		(594,082)
NET INCREASE IN
	CASH ON HAND AND IN BANKS		4,811,464,569	4,576,488,137	291,030	427,514
NET EFFECT OF DIFFERENCES
	IN FOREIGN EXCHANGE RATES		269,069,249	1,978,724,738	-	-
CASH ON HAND AND IN BANKS
	AT BEGINNING OF YEAR		8,889,432,988	2,334,220,113	590,189	162,675
CASH ON HAND AND IN BANKS
	AT END OF YEAR		4		13,969,966,806		8,889,432,988		881,219		590,189

Information on non-cash activities are disclosed in Note 30

The accompanying notes to the financial statements form an integral part of these financial statements taken as a whole.

PT Widja Putra Karya | Annual Report 2023-24

211

Notes to the Financial Statements

As of March 31, 2024 and for the Year Then Ended

(Expressed in Indonesian Rupiah, unless otherwise stated with Translations into United States Dollar)

1. GENERAL

PT Widja Putra Karya (the "Company") was established based on notarial deed No.42 dated April 20,1977 of Amir Sjarifuddin, S.H. The deed of establishment was approved by the Ministry of Justice in its decision letter No.Y.A.5/413/2 dated October 5, 1977. The Company subsequently changed its status to become a foreign capital investment company under the framework of the Foreign Capital Investment Law No. 1 of 1967 as amended by Law No. 11 of 1970 based on approval letter No.64/V/PMA/1995 dated December 4, 1995 of the State Minister for Mobilization of Investment Fund/ the Chairman of the Capital Investment Coordinating Board.

The Company's Articles of Association has been amended several times, the latest amendment of which was covered by notarial deed No. 4 dated February 21, 2024 of Fitri Budiani, S.H., M.Kn. , regarding the increase in authorized share capital and increase in issued and fully paid capital.

The latest amendment was reported to the Ministry of Law and Human Rights of the Republic of Indonesia and was acknowledged in its letter No. AHU-0016358.AH.01.02. dated March 14, 2024.

According to Article 3 of the Company's articles of association, the Company is engaged in activities related to providing accommodation and providing food and beverages and other services. Currently, the Company is the owner of The Oberoi Bali (the Hotel), located at Jalan Kayu Aya, Seminyak Beach, Bali. On March 19, 2019, EIH Management Services B.V assigned EIH Holdings Ltd to manage the hotel operations up to year 2032 with option to extend for 10 or 20 years.

The composition of the Company's Boards of Commissioners and Directors as of March 31, 2024 and 2023 are as follows:

		March 31, 2024
Board of Commissioners			Board of Commissioners
I Made Sutarjana		- President Commissioner		I Wayan Pasek			- President Director
Sudarshan Vedaji Rao		- Commissioner		Kallol Kundu			- Director
I.B. Yudana		- Commissioner		I Putu Sumaniaka			- Director
		March 31, 2023
Board of Commissioners			Board of Commissioners
Sudarshan Vedaji Rao		- President Commissioner		I Wayan Pasek			- President Director
I Ketut Siandana		- Commissioner		Deepak Madhok			- Director
I.B. Yudana		- Commissioner		I Made Sutarjana			- Director

The Company has a total of 125 and 130 permanent employees as of March 31, 2024 and 2023, respectively.

The management of the Company is responsible for the preparation and presentation of the accompanying financial statements that were completed and authorized for issuance by the Board of Directors on May 10, 2024.

2. SUMMARY OF MATERIAL ACCOUNTING POLICIES INFORMATION

a. Basis of Presentation of the Financial Statements

The financial statements have been prepared and presented in accordance with Indonesia Financial Accounting Standards ("SAK"), "), which comprise the Statements and Interpretations issued by the Financial Accounting Standards Board of the Institute of Indonesia Chartered Accountants (Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia or DSAK IAI).

Except for the statement of cash flows, the financial statements have been prepared on the accrual concept, using the historical cost concept of accounting, except for certain accounts which

are measured on the bases described in the related accounting policies for those accounts.

The statement of cash flows, which has been prepared using the indirect method, presents cash receipts and disbursements of cash and cash equivalents into operating, investing and financing activities.

The company's functional currency is the Indonesian rupiah, which is also the currency used in the preparation of the financial statements, with translations into unaudited presentation currency in United States dollar.

The financial reporting period of the Company is April 1 to March 31.

1. Current and non-current classification
   The Company presents assets and liabilities in the statement of financial position based on current/ non-current classification. An asset is current when it is:
2. 1. expected to be realized or intended to be sold or consumed in the normal operating cycle,

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