SIPCHEM ANNOUNCES THE TRANSITION PLAN FOR THE IMPLEMENTATION OF INTERNATIONAL REPORTING STANDARDS (IFRS) PHASE-II
Monday, October 31, 2016
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Reference is made to CMA announcement on 21/08/2016 regarding Sipchem adopting International Financial Reporting Standards (IFRS), and to Sipchem disclosure on 30/08/2016. Sipchem is now pleased to announce that:
1-There are no updates regarding what was announced in the first phase.
2-The necessary accounting policies have been approved in October 27, 2016.
Sipchem is ready to implement IFRS with effect from 01/01/2017 and that it will issue quarterly financial statements in compliance with IFRS for the first quarter ending on 31 March 2017.