b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)IFRS 9 Financial Instruments Amendments to IAS 40, Investment Property - Transfers of Investment PropertyIFRS9FinancialInstrumentsreplacesIAS39FinancialInstruments:Recognitionand TheamendmentsclarifywhenanentityshouldMeasurementforannualperiodsbeginningonor transferproperty,includingpropertyunderafter1January2018,bringingtogetherallthree constructionordevelopmentinto,oroutofaspectsoftheaccountingforfinancialinstruments: investmentproperty.Theamendmentsstatethatclassificationandmeasurement;impairment;and achangeinuseoccurswhenthepropertymeets,hedge accounting.orceasestomeet,thedefinitionofinvestmentTheGroupappliedIFRS9prospectively,with property and there is evidence of the change in aninitialapplicationdateof1January2018. use.AmerechangeinmanagementsintentionsforTheGrouphasnotrestatedthecomparative the use of a property does not provide evidence of information,whichcontinuestobereportedunder achangeinuse.TheseamendmentsdonothaveIAS39.Differencesarisingfromtheadoptionof anyimpactontheGroupsconsolidatedfinancialIFRS9havebeenrecognizeddirectlyinretained statements.earningsandothercomponentsofequity. Amendments to IAS 28, Investments in Associates and Joint Ventures - Clarification Theclassificationandmeasurement that measuring investees at fair value through requirementsofIFRS9didnothaveasignificant profit or loss is an investment-by-investment impact to the Group.choiceTheadoptionofIFRS9hasfundamentally TheamendmentsclarifythatanentitythatisachangedtheGroupsaccountingforimpairment venturecapitalorganization,orotherqualifyinglossesforfinancialassetsbyreplacingIAS39s entity,mayelect,atinitialrecognitiononanincurredlossapproachwithaforward-looking investment-by-investmentbasis,tomeasureitsexpectedcreditloss(ECL)approach.IFRS9 investmentsinassociatesandjointventuresatrequirestheGrouptorecognizeanallowancefor fairvaluethroughprofitorloss.IfanentitythatisECLs for all debt instruments not held at fair valuenotitselfaninvestmententity,hasaninterestinthroughprofitorlossandcontractassets. anassociateorjointventurethatisaninvestmentUponadoptionofIFRS9theGroupdetermined entity,thenitmay,whenapplyingtheequitythatadditionaladjustmentsontheGroupsTrade method,electtoretainthefairvaluemeasurementreceivablesandDebtinstrumentsatamortized appliedbythatinvestmententityassociateorjointcostswasneeded.Thisresultedinareduction venturetotheinvestmententityassociatesorjointintheprovisionforTradereceivablesofUS$ venturesinterestsinsubsidiaries.Thiselection449whichwasrecognizedasanadjustmentto is made separately for each investment entity Retainedearningsasat1January2018. associateorjointventure,atthelaterofthedateonwhich:(a)theinvestmententityassociateorjointIFRIC 22 - Foreign Currency Transactions andventureisinitiallyrecognized;(b)theassociateorAdvance Considerations jointventurebecomesaninvestmententity;and(c)theinvestmententityassociateorjointventureTheInterpretationclarifiesthat,indeterminingthe firstbecomesaparent.Theseamendmentsdospot exchange rate to use on initial recognitionnothaveanyimpactontheGroupsconsolidatedoftherelatedasset,expenseorincome(orpart financialstatements.ofit)onthederecognitionofanon-monetary Amendments to IFRS 1, First-time Adoption of assetornon-monetaryliabilityrelatingtoadvance International Financial Reporting Standards - consideration,thedateofthetransactionisthe Deletion of short-term exemptions for first-time dateonwhichanentityinitiallyrecognizesthe adoptersnon-monetaryassetornon-monetaryliabilityarising from the advance consideration. If there areShort-termexemptionsinparagraphsE3E7ofmultiplepaymentsorreceiptsinadvance,thenthe IFRS 1 were deleted because they have now entity must determine the date of the transactionsservedtheirintendedpurpose.Theseamendmentsfor each payment or receipt of advancedonothaveanyimpactontheGroupsconsideration.ThisInterpretationdoesnothave consolidatedfinancialstatements.anyimpactontheGroupsconsolidatedfinancialstatements.55'