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DESTINI Annual Report 2021

DESTINI Annual Report 1
OUR BUSINESS 4
DESTINI’S PRESENCE 6
DESTINI’S CORPORATE DIARY 7
SUBSIDIARY AND SUB-SUBSIDIARIES 12
CORPORATE STRUCTURE 16
CORPORATE INFORMATION 18
BOARD OF DIRECTORS 20
KEY SENIOR MANAGEMENT 27
OUR PERFORMANCE 30
EXECUTIVE CHAIRMAN AND MANAGEMENT DISCUSSION & ANALYSIS 32
SUSTAINABILITY REPORT 40
CORPORATE GOVERNANCE OVERVIEW STATEMENT 54
ADDITIONAL COMPLIANCE INFORMATION 72
RISK MANAGEMENT AND INTERNAL CONTROL STATEMENT 73
AUDIT COMMITTEE REPORT 76
DIRECTORS’ REPORT 80
STATEMENT BY DIRECTORS 86
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS 88
STATEMENTS OF FINANCIAL POSITION 96
STATEMENTS OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME 98
STATEMENTS OF CHANGES IN EQUITY 100
STATEMENTS OF CASH FLOWS 103
NOTES TO THE FINANCIAL STATEMENTS 106
Corporate Information 106
Basis of Preparation 106
Significant Accounting Policies 115
Property, Plant and Equipment 140
Right-of-Use Assets 147
Investments in Subsidiaries 152
Investment in Associates 169
Investment in Joint Ventures 171
Investment in Securities 173
Intangible Assets 174
Other Receivables 178
Other Investment 179
Inventories 179
Contract Assets/(Liabilities) 180
Trade Receivables 181
Amount Due from/(to) Subsidiaries 183
Amount Due from Joint Ventures 183
Amount Due from An Associate Company 183
Fixed Deposits with Licensed Banks 184
Share Capital 184
Foreign Currency Translation Reserve 185
Lease Liabilities 185
Bank Borrowings 186
Other Payables 190
Redeemable Preference Shares 191
Trade Payables 192
Revenue 192
Finance Costs 193
Profit/(Loss) Before Tax 194
Taxation 195
Deferred Taxation 197
Earnings/(Loss) Per Share 200
Staff Costs 200
Reconciliation of Liabilities Arising from Financing Activities 202
Related Party Disclosures 203
Segment Information 204
Contingent Liabilities 210
Financial Instruments 210
Material Litigation 225
Significant Events 226
Capital Management 227
Date of Authorisation for Issue 227
LIST OF PROPERTIES OWNED 228
STATISTIC OF SHAREHOLDINGS 229
NOTICE OF EIGHTEENTH ANNUAL GENERAL MEETING 232
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERALMEETING 239
PROXY FORM 241

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