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Financial Statements YTL CORPORATION BERHAD Annual Report 2016 Financial Statements 82 Directors’ Report 93 Statement by Directors 93 Statutory Declaration 94 Independent Auditors’ Report 96 Income Statements 97 Statements of Comprehensive Income 98 Statements of Financial Position 101 Statements of Changes in Equity 104 Statements of Cash Flows 107 Notes to the Financial Statements 255 Supplementary Information 81 YTL CORPORATION BERHAD Annual Report 2016 Directors’ Report The Directors have pleasure in submitting their Report together with the audited financial statements of the Group and of the Company for the financial year ended 30 June 2016. PRINCIPAL ACTIVITIES The principal activities of the Company are those of an investment holding and management company. The principal activities of the subsidiaries are set out in Note 13 to the Financial Statements. There have been no significant changes in the nature of these activities during the financial year. FINANCIAL RESULTS Group Company RM’000 RM’000 Profit for the year 1,886,958 622,659 Attributable to:- Owners of the parent 916,431 622,659 Non-controlling interests 970,527 – 1,886,958 622,659 DIVIDENDS The amount of dividend paid since the end of the last financial year was as follows:- RM’000 In respect of the financial year ended 30 June 2015:- An interim single tier dividend of 95% or 9.5 sen per ordinary share of 10 sen each paid on 23 October 2015 989,771 On 25 August 2016, the Board of Directors declared an interim single tier dividend of 95% or 9.5 sen per ordinary share of 10 sen each for the financial year ended 30 June 2016. The book closure and payment dates in respect of the aforesaid dividend are 31 October 2016 and 15 November 2016, respectively. The Board of Directors does not recommend the payment of a final dividend for the financial year ended 30 June 2016. RESERVES AND PROVISIONS All material transfers to or from reserves and provisions during the financial year are shown in the financial statements. 82 YTL CORPORATION BERHAD Annual Report 2016 Directors’ Report (continued) TREASURY SHARES The shareholders of the Company granted a mandate to the Company to repurchase its own shares at the Annual General Meeting held on 24 November 2015. The Directors of the Company are committed to enhance the value of the Company to its shareholders and believe that the repurchase plan can be applied in the best interest of the Company and its shareholders. Details of treasury shares are set out in Note 28(a) to the financial statements. EMPLOYEES’ SHARE OPTION SCHEME The Employees Share Option Scheme (“ESOS”) for employees and Executive Directors of the Company and its subsidiaries who meet the criteria of eligibility for participation was governed by the by-laws approved by the shareholder at an Extraordinary General Meeting (“EGM”) held on 30 November 2010. The scheme was implemented on 1 April 2011. The salient features and terms of the ESOS are set out in Note 28(b) to the financial statements. The aggregate maximum allocation of the share options granted to key management personnel is not more than fifty per cent (50%) of the fifteen per cent (15%) of the net paid up shares capital of the Company at the point of time throughout the duration of the scheme. The actual allocation granted to key management personnel is as follows:- Actual Allocation Since Financial Year 1.4.2011 30.6.2016 Key management personnel 4.49%* – * Computed based on 15% of the net paid up share capital of the Company. Since the date of the last report, no options have been granted under the ESOS. Details of options granted to Non-Executive Director of the Company is as follows: Number of share options over ordinary shares of RM0.10 each Balance at Balance at Name of Directors 1.7.2015 Granted Exercised 30.6.2016 Dato’ Chong Keap Thai @ Cheong Keap Tai 1,000,000 – – 1,000,000 Eu Peng Meng @ Leslie Eu 1,000,000 – – 1,000,000 83 YTL CORPORATION BERHAD Annual Report 2016 Directors’ Report (continued) DIRECTORS The Directors who served on the Board of the Company since the date of the last Report are:- Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE Dato’ Yeoh Seok Kian Dato’ Chong Keap Thai @ Cheong Keap Tai Dato’ Ahmad Fuaad Bin Mohd Dahalan (Appointed on 26 November 2015) Dato’ Yeoh Soo Min Dato’ Yeoh Seok Hong Dato’ Sri Michael Yeoh Sock Siong Dato’ Yeoh Soo Keng Dato’ Mark Yeoh Seok Kah Eu Peng Meng @ Leslie Eu Syed Abdullah Bin Syed Abd. Kadir Faiz Bin Ishak Dato’ (Dr) Yahya Bin Ismail (Retired on 24 November 2015) DIRECTORS’ INTERESTS The following Directors of the Company who held office at the end of the financial year had, according to the register required to be kept under Section 134 of the Companies Act 1965, interests in the shares of the Company and related companies as follows:- Number of ordinary shares of RM0.10 each Balance at Balance at The Company 1.7.2015 Acquired Disposed 30.6.2016 Direct interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 90,561,164 – – 90,561,164 Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE 133,001,216 – – 133,001,216 Dato’ Yeoh Seok Kian 55,481,889 – – 55,481,889 Dato’ Yeoh Soo Min 51,797,932 – – 51,797,932 Dato’ Yeoh Seok Hong 44,535,079 – – 44,535,079 Dato’ Sri Michael Yeoh Sock Siong 53,652,534 – – 53,652,534 Dato’ Yeoh Soo Keng 53,916,634 – – 53,916,634 Dato’ Mark Yeoh Seok Kah 20,081,152 – – 20,081,152 Syed Abdullah Bin Syed Abd. Kadir 9,304,133 – – 9,304,133 84 YTL CORPORATION BERHAD Annual Report 2016 Directors’ Report (continued) DIRECTORS’ INTERESTS (CONTINUED) Number of ordinary shares of RM0.10 each Balance at Balance at The Company 1.7.2015 Acquired Disposed 30.6.2016 Deemed interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 5,180,207,231(1)(2) – – 5,180,207,231(1)(2) Dato’ Yeoh Seok Kian 8,444,248(1) 2,908,269 – 11,352,517(1) Dato’ Yeoh Soo Min 1,525,605(1)(5) – – 1,525,605(1)(5) Dato’ Yeoh Seok Hong 23,549,759(1) 250,000 (250,000) 23,549,759(1) Dato’ Sri Michael Yeoh Sock Siong 19,332,622(1) – – 19,332,622(1) Dato’ Yeoh Soo Keng 758,214(1) – – 758,214(1) Dato’ Mark Yeoh Seok Kah 4,005,597(1) – – 4,005,597(1) Syed Abdullah Bin Syed Abd. Kadir 19,642(1) – – 19,642(1) Number of share options over ordinary shares of RM0.10 each Balance at Balance at The Company 1.7.2015 Granted Exercised 30.6.2016 Direct interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 7,000,000 – – 7,000,000 Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE 7,000,000 – – 7,000,000 Dato’ Yeoh Seok Kian 5,000,000 – – 5,000,000 Dato’ Chong Keap Thai @ Cheong Keap Tai 1,000,000 – – 1,000,000 Dato’ Yeoh Soo Min 5,000,000 – – 5,000,000 Dato’ Yeoh Seok Hong 5,000,000 – – 5,000,000 Dato’ Sri Michael Yeoh Sock Siong 5,000,000 – – 5,000,000 Dato’ Yeoh Soo Keng 5,000,000 – – 5,000,000 Dato’ Mark Yeoh Seok Kah 5,000,000 – – 5,000,000 Eu Peng Meng @ Leslie Eu 1,000,000 – – 1,000,000 Syed Abdullah Bin Syed Abd. Kadir 1,000,000 – – 1,000,000 Deemed interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 5,000,000(1) – – 5,000,000(1) Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE 2,000,000(1) – – 2,000,000(1) Dato’ Yeoh Seok Hong 3,000,000(1) – – 3,000,000(1) 85 YTL CORPORATION BERHAD Annual Report 2016 Directors’ Report (continued) DIRECTORS’ INTERESTS (CONTINUED) Number of ordinary shares of RM1.00 each Holding company – Yeoh Tiong Lay & Sons Holdings Balance at Balance at Sdn. Bhd. 1.7.2015 Acquired Disposed 30.6.2016 Direct interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 8,220,004 – – 8,220,004 Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE 5,000,000 – – 5,000,000 Dato’ Yeoh Seok Kian 5,000,000 – – 5,000,000 Dato’ Yeoh Soo Min 1,250,000 – – 1,250,000 Dato’ Yeoh Seok Hong 5,000,000 – – 5,000,000 Dato’ Sri Michael Yeoh Sock Siong 5,000,000 – – 5,000,000 Dato’ Yeoh Soo Keng 1,250,000 – – 1,250,000 Dato’ Mark Yeoh Seok Kah 5,000,000 – – 5,000,000 Deemed interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 5,000,004(1) – – 5,000,004(1) Number of ordinary shares of RM0.50 each Subsidiary Balance at Balance at – YTL Cement Berhad 1.7.2015 Acquired Disposed 30.6.2016 Deemed interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 737,661,273(3) 6,857 – 737,668,130(3) Number of ordinary shares of RM0.50 each Subsidiary Balance at Balance at – YTL Power International Berhad 1.7.2015 Acquired Disposed 30.6.2016 Direct interests Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay 21,399,262 200,000 – 21,599,262 Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE 14,719,213 – – 14,719,213 Dato’ Yeoh Seok Kian 10,404,890 – – 10,404,890 Dato’ Yeoh Soo Min 16,862,430 – – 16,862,430 Dato’ Yeoh Seok Hong 40,845,216 5,000,000 – 45,845,216 Dato’ Sri Michael Yeoh Sock Siong 14,055,133 – – 14,055,133 Dato’ Yeoh Soo Keng 13,666,251 – – 13,666,251 Dato’ Mark Yeoh Seok Kah 9,387,959 – – 9,387,959 Syed Abdullah Bin Syed Abd.
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