Table of Contents 1 164

Sasbadi Annual Report 2017

SASBADI ANNUAL REPORT 2017 1
CONTENTS 4
CORPORATE INFORMATION 5
FINANCIAL HIGHLIGHTS 6
CORPORATE STRUCTURE 7
WHO WE ARE 8
AWARDS AND ACHIEVEMENTS 9
MESSAGE TO SHAREHOLDERS 10
MANAGEMENT DISCUSSION AND ANALYSIS 11
OUR JOURNEY SO FAR 16
OUR CORE COMPETENCIES 18
DIRECTORS’ PROFILES 28
KEY SENIOR MANAGEMENT’S PROFILES 37
CORPORATE SOCIAL RESPONSIBILITY 39
SAMPLES OF OUR TECHNOLOGIES 42
CORPORATE GOVERNANCE STATEMENT 43
AUDIT COMMITTEE REPORT 52
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 55
ADDITIONAL COMPLIANCE INFORMATION 57
STATEMENT ON DIRECTORS’ RESPONSIBILITY 58
FINANCIAL STATEMENTS 59
DIRECTORS’ REPORT 60
STATEMENTS OF FINANCIAL POSITION 66
STATEMENTS OF PROFITOR LOSS AND OTHER COMPREHENSIVE INCOME 67
CONSOLIDATED STATEMENTOF CHANGES IN EQUITY 68
STATEMENT OF CHANGES IN EQUITY 70
STATEMENTS OF CASH FLOWS 71
NOTES TO THE FINANCIAL STATEMENTS 74
Basis of preparation 74
Significant accounting policies 78
Property, plant and equipment 95
Investment properties 98
Intangible assets 100
Investments in subsidiaries 104
Other investments 106
Inventories 106
Trade and other receivables 106
Cash and cash equivalents 107
Capital and reserves 108
Loans and borrowings 111
Deferred tax assets/(liabilities) 112
Provisions 114
Trade and other payables 114
Revenue 114
Finance costs 115
Profit before tax 115
Tax expense 116
Dividends 117
Earnings per ordinary share 118
Operating segments 118
Financial instruments 122
Capital management 134
Contingencies 135
Capital and other commitments 136
Related parties 136
Significant events 137
Acquisition of subsidiaries and non-controlling interests 137
Supplementary financial information on the breakdown of realisedand unrealised profits or losses 140
STATEMENTS BY DIRECTORS 141
STATUTORY DECLARATION 142
INDEPENDENT AUDITORS’REPORT 143
LIST OF PROPERTIES 151
ANALYSIS OF SHAREHOLDINGS 152
NOTICE OF FIFTH ANNUAL GENERAL MEETING 155
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 158

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