Table of Contents 1 186

DESTINI AR 2017

DESTINI ANNUAL REPORT 2017 1
contents 2
ABOUT THIS REPORT 3
our business 5
CORPORATE DIARY 7
CORPORATE STRUCTURE 11
KEY HIGHLIGHTS 15
OUR PERFORMANCE 16
CORPORATE INFORMATION 17
BOARD OF DIRECTORS 19
MANAGEMENT COMMITTEE 30
CHAIRMAN’S LETTER TO SHAREHOLDERS 35
MANAGEMENT DISCUSSION AND ANALYSIS 39
INVESTORS RELATIONS 48
STATEMENT OF CORPORATE SUSTAINABILITY 49
STATEMENT OF CORPORATE GOVERNANCE 51
ADDITIONAL COMPLIANCE INFORMATION 66
AUDIT COMMITTEE REPORT 67
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 69
FINANCIAL STATEMENTS 72
DIRECTORS’ REPORT 73
STATEMENT BY DIRECTORS 78
STATUTORY DECLARATION 79
INDEPENDENT AUDITORS’ REPORT 80
STATEMENTS OF FINANCIAL POSITION 85
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 87
STATEMENTS OF CHANGES IN EQUITY 88
STATEMENTS OF CASH FLOWS 91
NOTES TO THE FINANCIAL STATEMENTS 94
Corporate Information 94
Basis of Preparation 94
Significant Accounting Policies 101
Property, Plant and Equipment 116
Investments in Subsidiaries 121
Investment in Associates 132
Investment in Joint Venture 133
Investment in Securities 135
Intangible Assets 136
Land Use Right 139
Other Receivables 140
Other Investment 141
Inventories 141
Amount Due from/(to) Contract Customers 142
Trade Receivables 142
Amount Due from Subsidiaries 143
Amount Due from Joint Venture 144
Fixed Deposits with Licensed Banks 144
Cash and Bank Balances 144
Share Capital 144
Share Premium 145
Foreign Currency Translation Reserve 145
Employees Share Option Scheme (“ESOS”) 145
Finance Lease Liabilities 146
Bank Borrowings 147
Deferred Tax Liabilities 150
Redeemable Preference Shares 152
Trade Payables 152
Other Payables 152
Amount Due to a Director 152
Revenue 153
Finance Costs 153
Profit/(Loss) Before Tax 153
Taxation 155
Earnings Per Share 156
Staff Costs 157
Reconciliation of Liabilities Arising from Financing Activities 158
Related Party Disclosures 158
Segment Information 159
Contingent Liabilities 163
Financial Instruments 163
Capital Management 174
Subsequent Event 175
Comparative Information 176
Date of Authorisation for Issue 176
LIST OF PROPERTIES OWNED 177
STATISTIC OF SHAREHOLDINGS 178
NOTICE OF FOURTEENTH ANNUAL GENERAL MEETING 180
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 183

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