(3) Implications of new standards

The amendments to IFRS 3, IAS 16 and IAS 37 and the Annual Improvements to IFRSs 2018-2020 Cycle applicable to reporting periods commencing on or after 1 January 2022 do not have any material effect on the consolidated financial statements.

There are no new standards that are not yet mandatory which have a material effect upon the consolidated financial statements.