3.1 Definition of business

Definition of business

The Group applied Definition of a Business (Amendments to IFRS 3) to business combinations whose dates of acquisition are on or after 1 January 2021 in assessing whether it had acquired a business or a group of assets. The amendments do not have a material effect on the Group’s financial statements because the Group has not acquired any subsidiaries during the year. However, the Group has amended its accounting policies for acquisitions on or after 1 January 2021. The details of accounting policies are set out in Note 4(e).