MISC Annual Report 2018

HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 215 MISC BERHAD ANNUAL REPORT 2018 214 Group Corporation 2018 RM'000 2017 RM'000 2018 RM'000 2017 RM'000 Profit after taxation 1,284,341 1,990,691 1,252,261 1,663,552 Other comprehensive income/(loss): Items that may be reclassified subsequently to profit or loss Gain/(loss) on currency translation 686,551 (3,424,944) 2,163,665 (4,111,231) Non-current quoted equity investments - changes in fair value - (2,973) - (2,973) Cash flow hedges - fair value (loss)/gain (5,385) 14,258 - - Total other comprehensive income/(loss) for the year 681,166 (3,413,659) 2,163,665 (4,114,204) Total comprehensive income/(loss) for the year 1,965,507 (1,422,968) 3,415,926 (2,450,652) Total comprehensive income/(loss) attributable to: Equity holders of the Corporation 1,988,998 (1,407,337) 3,415,926 (2,450,652) Non-controlling interests (23,491) (15,631) - - 1,965,507 (1,422,968) 3,415,926 (2,450,652) The accompanying accounting policies and explanatory notes form an integral part of the financial statements. Group Note 2018 2017 RM'000 RM'000 Non-current assets Ships 13 21,224,833 20,902,471 Offshore floating assets 13 222,204 322,649 Other property, plant and equipment 13 1,888,890 1,757,311 Prepaid lease payments on land and buildings 14 212,988 220,128 Intangible assets 15 856,881 844,379 Investments in associates 17 482 528 Investments in joint ventures 18 955,071 1,127,797 Other non-current financial assets 19(a) 244,614 237,747 Derivative assets 19(b) 8,185 3,328 Finance lease receivables 19(d) 16,377,390 13,862,350 Finance lease assets under construction 20 - 688,489 Deferred tax assets 29 104,379 99,484 42,095,917 40,066,661 Current assets Inventories 21 250,030 198,592 Trade and other receivables 22 3,949,200 4,161,775 Tax recoverable 14,549 14,642 Derivative assets 19(b) - 4,406 Cash, deposits and bank balances 24 5,755,604 5,900,724 9,969,383 10,280,139 Non-current assets classified as held for sale 25 - 123,003 9,969,383 10,403,142 Current liabilities Trade and other payables 26 2,000,588 2,234,627 Interest-bearing loans and borrowings 19(c) 5,778,493 7,717,608 7,779,081 9,952,235 Net current assets 2,190,302 450,907 44,286,219 40,517,568 STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF FINANCIAL POSITION For the year ended 31 December 2018 As at 31 December 2018