Methanol Chemicals Company (Chemanol) [2001.SE] has announced the details of its project to change its reporting standards to IFRS in compliance with the new regulations that were set by the Saudi Organization for Certified Public accountants (SOCPA) and the Capital Market authority (CMA). As a part of the implementation process, the company has: i) appointed Ernst and Young as an external consultant during the transition phase; ii) nominated an internal team to be charged with the transition plan and iii) provided training to all finance department employees. The company plans to publish its FY2015 and 1Q16 financials under IFRS standards on 4 September 2016 and noted in the announcement that there is no major impact on the financial statements as a result of the implementation of IFRS. (Tadawul)   Chemanol: SAR6.30 as of 30 August 2016, Rating: Sell, FV: SAR4.00 per share, MCap: USD203mn, CHEMANOL AB / 2001.SE