1 247

MKH Annual Report 2022

ANNUAL REPORT 2022 1
CORPORATE INFORMATION 4
Vision, Mission and Core Value 4
Corporate Milestone 6
Company Profile 8
Awards and Achievements 10
FY2022 Highlights 11
5 Years Group Financial Highlights 12
Corporate Information 14
Corporate Structure 15
Chairman’s Statement 18
Management Discussion and Analysis Report 24
Sustainability Report 32
Directors’ Profile 46
Profile of Key Senior Management 49
CORPORATE GOVERNANCE 51
Corporate Governance OverviewStatement 51
Audit Committee Report 69
Statement on Risk Management andInternal Control 76
Additional Compliance Information 81
FINANCIAL 82
Financial Statements 82
Directors Report 83
Statement By Directors 90
Statutory Declaration 90
Independent Auditors’ Report 91
Statements of Profit or Loss and OtherComprehensive Income 96
Statements of Financial Position 97
Consolidated Statement of Changesin Equity 99
Statement of Changes in Equity 101
Statements of Cash Flows 102
Notes to the Financial Statements 107
GENERAL INFORMATION 107
BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS 107
SIGNIFICANT ACCOUNTING POLICIES 112
REVENUE 139
COST OF SALES 140
PROFIT BEFORE TAX 140
DIRECTORS’ REMUNERATION 142
TAX EXPENSE 143
EARNINGS AND NET ASSETS PER SHARE 146
PROPERTY, PLANT AND EQUIPMENT 147
RIGHT-OF-USE ASSET 153
INTANGIBLE ASSETS 154
PREPAID LEASE PAYMENTS 156
INVESTMENT PROPERTIES 156
INVESTMENT IN SUBSIDIARIES 157
INVESTMENT IN ASSOCIATES 167
OTHER INVESTMENT 169
LAND HELD FOR PROPERTY DEVELOPMENT 169
DEFERRED TAX ASSETS AND LIABILITIES 170
RECEIVABLES, DEPOSITS AND PREPAYMENTS 172
PROPERTY DEVELOPMENT COSTS 178
INVENTORIES 179
CONTRACT ASSETS AND CONTRACT LIABILITIES 179
CONTRACT COST ASSETS 180
BIOLOGICAL ASSETS 180
CASH, BANK BALANCES, TERM DEPOSITS AND SHORT-TERM PLACEMENTS 181
NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE 182
SHARE CAPITAL 183
RESERVES 183
PROVISIONS 184
PAYABLES AND ACCRUALS 187
LEASE LIABILITY 189
LOANS AND BORROWINGS 189
DIVIDEND 198
ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATE 199
FINANCIAL GUARANTEES 200
CONTINGENT LIABILITIES 201
CAPITAL COMMITMENTS 202
RELATED PARTY DISCLOSURES 202
SEGMENT INFORMATION 204
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR AND SUBSEQUENT EVENTS 211
OPERATING LEASE ARRANGEMENTS - THE GROUP AS LESSOR 212
FINANCIAL INSTRUMENTS 213
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 213
FAIR VALUE OF FINANCIAL INSTRUMENTS 220
FAIR VALUE HIERARCHY 221
CAPITAL MANAGEMENT 226
RECLASSIFICATIONS 226
List of Properties 227
Analysis of Shareholdings 234
Directors’ Shareholdings 237
Notice of Forty-Third AnnualGeneral Meeting 238
Statement Accompanying Notice ofForty-Third Annual General Meeting 244

RkJQdWJsaXNoZXIy NDgzMzc=