Table of Contents 1 122

EXCEL FORCE MSC BERHAD Annual Report 2017

CONTENTS 2
Notice of Annual General Meeting 3
Five-Year Financial Highlights 6
Corporate Information 8
Chairman’s Statement 9
Management Discussion And Analysis 10
Board of Directors’ Profile 13
Key Senior Management Profile 17
Corporate Governance Statement 20
Corporate Responsibility 31
Audit Committee Report 32
Statement On Risk Management And Internal Control 35
Additional Compliance Information 38
FINANCIAL STATEMENTS 2
Directors’ Report 39
Statement By Directors 44
Statutory Declaration 44
Independent Auditors’ Report 45
Statements Of Financial Position 48
Statements Of Profit Or Loss And Other Comprehensive Income 50
Statements Of Changes In Equity 52
Statements Of Cash Flows 54
Notes To The Financial Statements 56
1. Corporate Information 56
2. Basis of Preparation 56
3. Significant Accounting Policies 62
4. Property, Plant and Equipment 77
5. Product Development Costs 81
6. Intangible assets 82
7. Investment in Subsidiary Companies 82
8. Amount Due from/(to) a Subsidiary Company 85
9. Inventories 85
10. Trade Receivables 85
11. Other Receivables 87
12. Cash and Bank Balances and Short Term Funds 87
13. Assets Held for Sale 88
14. Share Capital 88
15. Reserves 90
16. Loan and Borrowing 91
17. Deferred Tax Liabilities 91
18. Trade Payables 93
19. Other Payables 93
20. Revenue 93
21. Cost of Sales 93
22. Profit before Tax 94
23. Taxation 94
24. Earnings Per Share 96
25. Dividends 97
26. Staff Costs 97
27. Reconciliation of Liabilities Arising from Financing Activities 98
28. Related Party Disclosures 98
29. Segment Information 99
30. Financial Instruments 103
31. Capital Management 113
32. Comparative Information 114
33. Subsequent Event 114
34. Date of Authorisation for Issue 114
List Of Properties 115
Analysis Of Shareholdings 116
Analysis Of Warrant Holdings 118
Form of Proxy 120

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