Financial Statements REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Opinion We have audited the financial statements of IHH Healthcare Berhad, which comprise the statements of financial position as at 31 December 2023 of the Group and of the Company, and the statements of profit or loss and other comprehensive income, statements of changes in equity and statements of cash flows of the Group and of the Company for the year then ended, and notes to the financial statements, including material accounting policy information, as set out on pages 137 to 248. In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Group and of the Company as at 31 December 2023, and of their financial performance and their cash flows for the year then ended in accordance with Malaysian Financial Reporting Standards, IFRS Accounting Standards as issued by the International Accounting Standards Board (IFRS Accounting Standards) and the requirements of the Companies Act 2016 in Malaysia. Basis for Opinion We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our auditors’ report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence and Other Ethical Responsibilities We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the Group and of the Company for the current year. These matters were addressed in the context of our audit of the financial statements of the Group and of the Company as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. Disposal of IMU Health Sdn. Bhd. and its subsidiaries Refer to Note 39 – Acquisition and disposal of subsidiaries/business. The key audit matter On 31 March 2023, the Group and the Company completed the disposal of IMU Health Sdn. Bhd. with a gain on disposal of RM872.5 million and RM827.5 million respectively. In view of the financial significance of this gain on disposal and the complexities surrounding the structure of the disposal, we identified the disposal as a key audit matter. How the matter was addressed in our audit We performed, amongst others, the following audit procedures: • We checked to the share transfer form to determine the date of disposal; • We read the sale agreements and correspondences between the Company and the buyers and assessed whether the disposal has been accounted for in line with the terms of the agreements; • We agreed the selling prices to the agreements and subsequent correspondences; • We determined the accuracy of the carrying value of cost of investment and disposal group to supporting internal information; • We performed re-computation of the gain on disposal; and • We assessed the adequacy of the disclosures in respect of this disposal in the financial statements. Independent Auditors’ Report To the members of IHH Healthcare Berhad (Registration No. 201001018208 (901914-V)) (Incorporated in Malaysia) IHH Healthcare Berhad 134
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