AGS Transact Technologies Limited

Annexure V - Basis of preparation and Significant Accounting Policies

Notes to the Revised Restated Consolidated Financial Information

The subsidiaries/ step-down subsidiaries considered in the preparation of the Revised Restated Consolidated
Financial Information and the shareholding of the Group in these companies is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Holding Country of 3h 3h oh 31

Subsidiaries Conipaiy:| Inearporaten August | March | March | March
pany P 2021 | 2021 | 2020 | 2019

India Transact Services Limited . 9; 9 9 9
(west. 1 April 2010) Company India 100% 100% 100% 100%
Securevalue India Limited . 9, 9 9 0,
(west. 24 April 2012) Company India 100% 100% 100% 100%
Global Transact Services Pte. Ltd. i 3) 9, 9 9,
(‘GTSL’) (w.e.f. 6 March 2009) Company Singapore 100% 100% 100% 100%
Novus Technologies Pte. Ltd. (“NTPL’) i .0, ™" 0, 9
(w.e.f, 28 November 2013) GTSL Singapore 90% 90% 90% 90%
Novus Technologies (Cambodia) . 9 9, oy 9)
Company Limited (w.e.f. 29 August 2014) NUEL Cambodia 90% 90% 90% 90%
Novus Transact Philippines Corporation arse " ” 9 9
(w.e.f, 15 September 2014) NTPL Philippines 90% 90% 90% 90%
Novustech Transact Lanka (Private) ¥ " <i 0, 9,
Limited (w.e.f. 23 September 2016) NEEL SHtenka | (90% | So% | ome | 0%
AGS Community Foundation 7 m7 i 60% 60%
(w.e.f. 24 September 2019)* Company Incl 60% a0%e

 

 

*Not considered for consolidation purposes.

Associate

An associate is an entity in which the Group has significant influence, but not control or joint control, over the
financial and operating policies. Interests in associates are accounted for using the equity method. They are initially
recognized at cost which includes transaction costs. Subsequent to initial recognition the Revised Restated
Consolidated Financial Information include the Group’s share of profit and loss and OCI of equity accounted
investees until the date on which significant influence ceases.

 

 

 

 

 

 

‘Associates Country of | 31 August | 31 March | 31 March | 31 March
Incorporation 2021 2021 2020 2019
PT.Nova Digital Perkasa (w.e.f. 29 January 2020) Indonesia 45% 45% 45% 0%

 

 

 

 

G. Financial assets

(i) Initial recognition and measurement
Financial assets are recognised when the Group becomes a party to the contractual provisions of the instrument.

On initial recognition, a financial asset is recognised at fair value. In case of financial assets which are recognised at
fair value through profit and loss (FVTPL), its transaction cost is recognised in the Revised Restated Consolidated
Statement of Profit and Loss. In other cases, the transaction cost is attributed to the acquisition value of the financial
asset.
