Table of Contents 1 220

DESTINI Annual Report 2018

DESTINI- ANNUAL REPORT 2018 1
ABOUT THIS REPORT 4
OUR BUSINESS 6
CORPORATE DIARY 8
CORPORATE INFORMATION 12
GROUP CORPORATE STRUCTURE 14
BOARD OF DIRECTORS 18
MANAGEMENT COMMITTEE 28
OUR PERFORMANCE 36
CHAIRMAN’S STATEMENT 38
MANAGEMENT DISCUSSION AND ANALYSIS 42
INVESTOR RELATIONS 52
COMMITMENT TO SUSTAINABILITY 54
SUSTAINABILITY GOVERNANCE 56
STAKEHOLDERS ENGAGEMENT 57
MATERIAL SUSTAINABILITY MATTERS 58
CORPORATE GOVERNANCE 64
ADDITIONAL COMPLIANCE INFORMATION 81
AUDIT COMMITTEE REPORT 82
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 85
FINANCIAL STATEMENTS 88
DIRECTORS’ REPORT 90
STATEMENT BY DIRECTORS 95
STATUTORY DECLARATION 96
INDEPENDENT AUDITORS’ REPORT 97
STATEMENTS OF FINANCIAL POSITION 102
STATEMENTS OF PROFIT OR LOSS 104
STATEMENTS OF CHANGES IN EQUITY 105
STATEMENTS OF CASH FLOWS 108
NOTES TO THE FINANCIAL STATEMENTS 111
Corporate Information 111
Basis of Preparation 111
Significant Accounting Policies 119
Property, Plant and Equipment 138
Investments in Subsidiaries 143
Investment in Associates 153
Investment in Joint Ventures 154
Investment in Securities 157
Intangible Assets 157
Land Use Rights 160
Other Receivables 161
Other Investment 162
Inventories 162
Contract Assets/(Liabilities) 162
Trade Receivables 164
Amount Due from Subsidiaries 166
Amount Due from Joint Ventures 166
Fixed Deposits with Licensed Banks 166
Cash and Bank Balances 166
Share Capital 167
Share Premium 167
Foreign Currency Translation Reserve 167
Employees Share Option Scheme (“ESOS”) 168
Finance Lease Liabilities 169
Bank Borrowings 170
Deferred Tax Liabilities 173
Redeemable Preference Shares 175
Trade Payables 175
Other Payables 176
Amount Due to a Director 176
Revenue 176
Finance Costs 177
Profit/(Loss) Before Tax 178
Taxation 179
Earnings Per Share 181
Prior Year Adjustment 181
Staff Costs 182
Reconciliation of Liabilities Arising from Financing Activities 184
Related Party Disclosures 185
Segment Information 186
Contingent Liabilities 192
Financial Instruments 192
Subsequent Event 205
Capital Management 205
Date of Authorisation for Issue 206
LIST OF PROPERTIES OWNED 207
STATISTIC OF SHAREHOLDINGS 208
NOTICE OF FIFTEENTH ANNUAL GENERAL MEETING 212
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 216
PROXY FORM 217

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