ANNUAL REPORT 2019 SOWING SEEDS FOR FUTURE GROWTH 1 Don Agro International Limited (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 14 February 2020. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). This annual report has been prepared by the Company and its contents have been reviewed by the Sponsor in accordance with Rules 226(2)(b) and 753(2) of the the SGX-ST Listing Manual Section B: Rules of Catalist. This annual report has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this annual report, including the correctness of any of the statements or opinions made or reports contained in this annual report. The contact person for the Sponsor is Mr Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, and E-mail:
[email protected]). SOWING SEEDS FOR FUTURE GROWTH 2 DON AGRO INTERNATIONAL LIMITED 2019 ANNUAL REPORT DON AGRO INTERNATIONAL CONTENTS Chairman’s Message 04 Board of Directors 06 Key Management Personnel 07 - ANNUAL REPORT 2019 Financial Review 08 Corporate Information 14 Corporate Governance Report 15 Directors’ Statement 33 Independent Auditors’ Report 38 Statements of Financial Position 41 Consolidated Statement of Profit or Loss And Other 42 Comprehensive income Consolidated Statement of Changes in Equity 43 Consolidated Statement of Cash Flows 45 Notes to the Consolidated Financial Statements 47 Additional Information on Directors Seeking 95 Re-election Shareholdings Statistics 100 3 CHAIRMAN’S MESSAGE Dear Shareholders, In 2019, the Russian Agriculture Ministry said that the On behalf of the Board of Directors (the “Board”) of country will be harvesting on average 140 million tons Don Agro International Limited (the “Company” or “Don of grain per year until 2035, up 24% compared to the Agro”) and its subsidiaries (collectively the “Group”), it 2018 level.