Singapore has not yet adopted the following IFRSs:
• IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments
(which was effective in 2006).
• The amendments to IFRS 10 and IFRS 12 on Investment Entities (which are
effective 1 January 2014).
• IFRS 9 Financial Instruments (which is not effective until 2015).
Singapore has made modifications to the following IFRSs in adopting them as
SFRSs:
• Under the Singapore FRS 16 Property, Plant and Equipment, one-off
revaluations of such assets that took place between 1984 and 1996 are
permitted without requiring ongoing use of the revaluation model as
required by IAS 16.
• Singapore made some changes to the requirements to present
consolidated financial statements and in accounting for associates and
joint ventures as compared to IAS 27, IAS 28, and IAS 31.
• IFRIC 15 Agreements for the Construction of Real Estate (modification of
the accounting treatment for a specific type of sale of uncompleted
residential properties).
• IAS 12 Income Tax (modification relating to foreign-sourced income not
yet remitted to Singapore).
Singapore deferred the effective dates of IFRS 10 Consolidated Financial
Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in
Other Entities, and the related recent amendments to IAS 27 and IAS 28, from 1
January 2013 to 1 January 2014.