Table of Contents 1 246

MKH Annual Report 2018

VISION, MISSION AND COPRORATE VALUES 4
COMPANY PROFILE 6
AWARDS AND ACHIEVEMENTS 8
FY2018 HIGHLIGHTS 9
5 YEARS GROUP FINANCIAL HIGHLIGHTS 10
CORPORATE INFORMATION 12
CORPORATE STRUCTURE 13
CHAIRMAN’S STATEMENT 16
MANAGEMENT DISCUSSION AND ANALYSIS REPORT 20
SUSTAINABILITY REPORT 30
DIRECTORS’ PROFILE 46
PROFILE OF KEY SENIOR MANAGEMENT 49
CORPORATE GOVERNANCE OVERVIEW STATEMENT 51
AUDIT COMMITTEE REPORT 65
STATEMENT ON RISK MANAGEMENTAND INTERNAL CONTROL 70
ADDITIONAL COMPLIANCE INFORMATION 74
FINANCIAL STATEMENTS 75
DIRECTORS’ REPORT 76
STATEMENT BY DIRECTORS 83
STATUTORY DECLARATION 83
INDEPENDENT AUDITORS’ REPORT 84
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 89
STATEMENTS OF FINANCIAL POSITION 91
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 94-95
STATEMENTS OF CASH FLOWS 100
NOTES TO THEFINANCIAL STATEMENTS 103
GENERAL INFORMATION 103
BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS 103
SIGNIFICANT ACCOUNTING POLICIES 111
REVENUE 128
COST OF SALES 128
PROFIT BEFORE TAX 129
DIRECTORS’ REMUNERATION 130
TAX EXPENSE 131
EARNINGS AND NET ASSETS PER SHARE 133
PROPERTY, PLANT AND EQUIPMENT 136-137
INTANGIBLE ASSETS 145
BIOLOGICAL ASSETS 147
PREPAID LEASE PAYMENTS 147
INVESTMENT PROPERTIES 148
INVESTMENT IN SUBSIDIARIES 149
INVESTMENT IN ASSOCIATES 160
LAND HELD FOR PROPERTY DEVELOPMENT 162
DEFERRED TAX ASSETS AND LIABILITIES 163
RECEIVABLES, DEPOSITS AND PREPAYMENTS 165
PROPERTY DEVELOPMENT COSTS 171
INVENTORIES 172
CASH, BANK BALANCES, TERM DEPOSITS AND FIXED INCOME FUNDS 173
NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE 174
SHARE CAPITAL 174
RESERVES 176
PROVISIONS 177
PAYABLES AND ACCRUALS 180
LOANS AND BORROWINGS 182
DIVIDEND 197
ACQUISITION OF SUBSIDIARIES 197
FINANCIAL GUARANTEE 198
CONTINGENT LIABILITY 198
CAPITAL COMMITMENTS 199
RELATED PARTY DISCLOSURES 199
SEGMENT INFORMATION 202
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 212
SIGNIFICANT EVENT SUBSEQUENT TO THE FINANCIAL YEAR END 213
OPERATING LEASE ARRANGEMENTS - THE GROUP AS LESSOR 213
FINANCIAL INSTRUMENTS 214
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 214
FAIR VALUE OF FINANCIAL INSTRUMENTS 219
FAIR VALUE HIERARCHY 221
CAPITAL MANAGEMENT 224
LIST OF PROPERTIES 225
ANALYSIS OF SHAREHOLDINGS 232
DIRECTORS’ SHAREHOLDINGS 235
NOTICE OF THIRTY-NINTH ANNUAL GENERAL MEETING 236
STATEMENT ACCOMPANYING NOTICEOF THIRTY-NINTH ANNUAL GENERAL MEETING 242

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