Table of Contents 1 229

MKH Annual Report 2017

VISION & MISSION 4
COMPANY PROFILE 6
AWARDS AND ACHIEVEMENTS 8
5 YEARS GROUP FINANCIAL HIGHLIGHTS 10
CORPORATE INFORMATION 12
CORPORATE STRUCTURE 13
CHAIRMAN’S STATEMENT 16
MANAGEMENT DISCUSSION AND ANALYSIS REPORT 20
SUSTAINABILITY STATEMENT 30
DIRECTORS’ PROFILE 38
PROFILE OF KEY SENIOR MANAGEMENT 41
STATEMENT ON CORPORATE GOVERNANCE 43
AUDIT COMMITTEE REPORT 63
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 68
ADDITIONAL COMPLIANCE INFORMATION 72
FINANCIALSTATEMENTS 75
DIRECTORS' REPORT 76
STATEMENT BY DIRECTORS 82
STATUTORY DECLARATION 82
INDEPENDENT AUDITORS ’ REPORT 83
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 88
STATEMENTS OF FINANCIAL POSITION 90
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 92
STATEMENT OF CHANGES IN EQUITY 94
STATEMENTs OF CASH FLOWS 95
NOTES TO THE FINANCIAL STATEMENTS 98
GENERAL INFORMATION 98
BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS 98
SIGNIFICANT ACCOUNTING POLICIES 102
REVENUE 122
COST OF SALES 122
PROFIT BEFORE TAX 123
DIRECTORS’ REMUNERATION 124
TAX EXPENSE 125
EARNINGS AND NET ASSETS PER SHARE 127
PROPERTY, PLANT AND EQUIPMENT 129
INTANGIBLE ASSETS 135
BIOLOGICAL ASSETS 137
PREPAID LEASE PAYMENTS 137
INVESTMENT PROPERTIES 138
INVESTMENT IN SUBSIDIARIES 139
INVESTMENT IN ASSOCIATES 148
LAND HELD FOR PROPERTY DEVELOPMENT 150
DEFERRED TAX ASSETS AND LIABILITIES 151
RECEIVABLES, DEPOSITS AND PREPAYMENTS 153
PROPERTY DEVELOPMENT COSTS 159
INVENTORIES 160
CASH, BANK BALANCES, TERM DEPOSITS AND FIXED INCOME FUNDS 161
NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE 162
SHARE CAPITAL 162
RESERVES 163
PROVISIONS 165
PAYABLES AND ACCRUALS 168
LOANS AND BORROWINGS 170
DIVIDEND 181
ACQUISITION OF SUBSIDIARIES 181
FINANCIAL GUARANTEE 184
CONTINGENT LIABILITY 184
CAPITAL COMMITMENTS 185
RELATED PARTY DISCLOSURES 185
SEGMENT INFORMATION 188
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 193
SIGNIFICANT EVENT SUBSEQUENT TO THE FINANCIAL YEAR END 194
OPERATING LEASE ARRANGEMENTS - THE GROUP AS LESSOR 194
FINANCIAL INSTRUMENTS 195
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 195
FAIR VALUE OF FINANCIAL INSTRUMENTS 200
FAIR VALUE HIERARCHY 202
CAPITAL MANAGEMENT 205
COMPARATIVE FIGURES 206
SUPPLEMENTARY INFORMATION 207
LIST OF PROPERTIES 208
ANALYSIS OF SHAREHOLDINGS 215
DIRECTORS' SHAREHOLDINGS 218
NOTICE OF THIRTY-EIGHTH ANNUAL GENERAL MEETING 219
STATEMENT ACCOMPANYING NOTICE OF THIRTY-EIGHTH ANNUAL GENERAL MEETING 225
FORM OF PROXY 227

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