Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 609

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 609
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2. Significant accounting policies The principal accounting policies applied in the preparation of these condensed consolidated financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated. The preparation of financial statements requires the use of critical accounting estimates. Management also needs to exercise judgement in applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the condensed consolidated financial statements are disclosed in Note 3.

F-54

2. Significant accounting policies (cont.) 2.1 New or amended accounting standards and interpretations adopted The consolidated entity applied for the first -timecertain standards and amendments, which are effective for annual periods beginning on or after January 1, 2024. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. (1) Amendments to IFRS 1116: Lease liability in a sale and leaseback The amendments to IFRS 1116 specify the requirements that a seller -lesseeuses in measuring the lease liability arising in a sale and leaseback transaction, to ensure the seller -lesseedoes not recognize any amount of the gain or loss that relates to the right of use it retains. The amendments are effective for annual reporting periods beginning on or after January 1, 2024 and must be applied retrospectively to sale and leaseback transactions entered into after the date of initial application of IFRS 1116. Earlier application is permitted and that fact must be disclosed. The Group adopted these amendments as of January 1, 2024. The amendments did not have a material impact on the Group’s financial statements. (2) Amendments to IFRS 1001: Classification of liabilities as current or non -current The amendments to paragraphs 69 to 76 of IFRS 1001 specify the requirements for classifying liabilities as current or non -current. The amendments clarify: •What is meant by a right to defer settlement •That a right to defer must exist at the end of the reporting period •That classification is unaffected by the likelihood that an entity will exercise its deferral right •That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is classified as non -currentand the entity’s right to defer