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    NIND

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    Bhargav

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    © All Rights Reserved
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    @ Grant Thornton gen Aiba habe Consolidated financial statements and independent auditor's report National Industries Group Holding - KPSC and Subsidiaries Kuwait 31 December 2021 Contents Indepemlent auditors report Consolidated statement of proto loss Consolidated statement of proto loss and other comprehensive income Consolidated statement of Financial position CConsotidated statement of changes in equity CConsoidated statement of cash flows "Notes the consolidated financial statements Page tos 5 ‘ 7 Sand9 tana tt Reo Grant Thornton Noses Independent auditor’s report ore Tothe harold of anal dates Group Hong -KDSC Kroat Report om the Audit ofthe Consotidated Financial Statements Opinion We have audited the contodie finch statements of National Indes Group Holding — Kae Public ‘Shircholding Company (he Taret Company) and Sabian, (cleanly the "Grovp'), which eoasise ‘he consolidated surement of fnancl positon tat 31 December 2021, an the conscited sitenet of profit rls, consolidated statement of profit or los and otter comprchensie income consoated statement Df changes in eqity and consolidated statement af eat flows forthe feat then ended, aad ote t the consoled nancial seme, inladig a umamary of sgieanaccneng pole ‘nour opin, the accompuing consolidated oun statment presen iy in all mate epects, the ‘onsoiited financial possos of the Group ae a¢ 31 December 2021, and i commliated ned perfomance nds comslsti eh lows Forte year then endedinacordane wi nreratona Finana Reporting Sundae (ERS), Basis for Opinion ‘We conducted oor audi accondince with nection Stans on Audi (SA), Ou esponeisiee snderthowe stand ate fuer dseibod in the Autor Responabies forte At ofthe Conidae Finacial Sutements secon 3f ue report We ae independent ofthe Group in acordance ith the Inertial Ete Stdads Boned for Acsountane’ Cat Eis fr Prin Janets (ESB Codey, snd we hve full our eed reponse in acordance ih the IESBA Cede We bebeve tt fe ut ‘idence We have obtained i lien and appropate to provide basi fo nt opinion Key Audie Mates Ke ait mates ate those mites Ba, in ou profesional judgment, wee of mor sgnicancein oer aut ofthe consaldated Easnelsutement of te cet period These matters ere addressed in the catet of Gur su ofthe onsaldntedfanclsatement ax whole abd forming oa opinion thereon, ade ot provi a epunteopissonon these matters, We have determined the mater descted tow the hey Valuation offnancial assets ensured tf ale ‘The Group's Snail siete masred afr ale represen 46% of tot ates af the seprting de These ses ae eter cased a finan assets a fv thro prof o ler ora nana nets tft ‘ale though her comprehensive income The wakaton ofthese Gancil ssets pefomed sig it Tale beret {eve Jae valuations based ce quoted pices (nate) i active makes, Level 2 evaluations bused on other dan quoted paces inched within lvl that ae obreble either, Geely orindeaty:and, Level Sate vals baced cx unobeerle inp fr de see “The rlsion of thee finan atric subject - mot prodominany forthe level 2a ee 3 Snancial art sine these are lve singinpat cer than uoted pices inan ative mart The rlations “were desived fom the applicatn of diferent vahaton metho inthaing lave random eto, juste ecase ve and scouted ath ow. The bey inp sed in she wlan of nial lee 2nd eve 3 ‘nancilsret are mise leper, iigiy rout, expecred cath Now, ik fc ves an cre spend Given the here abjectgyin the valunion flee! 2 an level 3 Gna se, we Stee tho be -sogufenestem for our aie GrantThornton Maen ban Poe Independent Auditor's Report to the Shareholders of National Industries Group Holding ~ KPSC (continued) Key Audie Mates (continued) Valuation of financial acts measured afr ale (continued) ‘Our au procedues ompssd rons other ofa semen of te metndelogy and ts appropriateness ‘ofthe aanton moe sr npote wet vale thee Bras set ncadg agen Decaying ale of ‘he vestments to the ternal and extemal valstons. Farther, we challaged the anton ofthese Gna ‘eer and tsesed whether the vaksbons peromned by the Group were vathin& peedelined tok ‘Aiferecestretold Ay prt of these aut proceduce we nested te accuaey of key np ed inthe ‘ston cha the espotted ch flows and tare ter by Denchatking ther wth exeral a Final, swe ssssed the completeness and accuracy of the dcosies relating to Use fancies to 88 ‘compliance wit dcosueraquzement ined in IFRS Refer Notes 8618, 19 and 3c the conabidated financial extemete for ane information on Gx valuation of financial eso fe abe rough pct Toes and nancial saets at aval the Ober Compechentve inca, JInpaiement of investment in asocates “The Groups inrormentin snc soresent 26% of he tot ase: and ate accounted for ander the ty ‘method of accounting and we conseed for impasmeatin ese of anton of impiement Unde the et! ‘method of accounting foe sso, these invests te ntily sted cor, and ae ated three forthe postacqusion change the share of the netasiets of the soci ss ay inpimestprovisins ‘Macken of torte nvetnent ia asoites hasbeen below the cerpectve caring aout fora usin plod ted therefore thee erent aang aman costnoe oy the Gro slice jdgement ‘Eining ths ecoverale amount breton the vale vee, Te proected fue eth ws coat tates wed bythe Group in determining valioune are rubjet to srtiaon uncaring tnd sensi “Therefore, we conser hr ey at ter ‘Our sot proces ince, among eter, erating managements consiention of th impalement intr, the asesmen of the Groups methodology and calcuton of valvean-ase, For ascot where ‘here wer inpaimensndiators, we eahted the reasonableness of esh Row peojctons aplnstmost recent ‘cil pertrmance and cousdered the appropeatenem of Ky inp ech lng owt ees ed fo extapolate these cach flows and the acount rte Addhionaly, we conser wicher the Group lect of the applton of jemnt in eating the secoverable amount andthe aensiy ofthe ‘ere of thove ester aden reflect the sike atid th impaioment of iverorent in aeoces Refer Notes 5, 6 and 21 tothe consolitedGnncal statements for more infmston wo ives dhe information included in the Group's 2021 annual report Managements reponsibe fr the the information Other information const ofthe fermion ince inthe Anal Report of the Group forthe year ended 31 December 201 other than tbe onset aca fatements and ur audor report thereon We obsned the report ofthe Parent Companys Boatd of Directors, prot tothe dite of our andor sepoet and we expet to obsin the remaining secs othe (Groups Anand Report forthe yas ended 31 December 02] afer the dite of ur sud repart, (Our epinion oa the consoled ancl Satements doesnot cover the oer information and we do not expen any foam of surance contain theron In connection wth a ust ofthe conto Sani statrents, cur esponibity ro ed the exher information ete above an, n doing <0, consider beter theater formation mately nanestent sth the courolied Gani stements or our kncledge obtuned ducing the andor orate appears (O ‘be mately seated If, bed om the work we have performed on the other information tat we have ‘binned pce othe de ofthis actor’ reper we conchae tht there iss meal mantenet of other Information, weatesaqzed 0 report that fee We hive thing to reports regu GrantThorton Quien on Independent Auditor's Report to the Shareholders of National Industies Group Holding ~ PSC (continued) Responsibilities of Management and'Those Charge with Governance fr the Consolidated Financial, ‘Statements ‘Management is responsible fo the preparation and fi presentation of he consolted Finn starements in aectnce with IFRS, td or sc nerd conte ta managetnent teins necenayw enable the espn of const Snancileternent ht are fc oon teil etree whet acto fed In prepating the consoled ancl statement, managements esponsibe for asetsing she Group abi ‘0 conte as a going cone, dcosing a apple, mates rested fo going concen 2nd us the go ‘conceen bss of tcountas ualess management eter tends wold The Grou or cease operons, ‘has na eli erate but odo so hove charged with governance are esposible For ovnecing the Groups nancial eportng proce. (Gur objecever are to ob resonate seurince abut whee the consolted financial wtements a suhole ate te om mterleotutement, whether eo ra rer su to isuean aor est dat incider our opiion. Reaorable surance rs high eve of anvcane, but kota guianie tat an out ‘Conducted in scrordance ih ISAs wil yay deta mater mattatenent when fect, Mintatrents (3 ase fom Sued or coe and are considered mater ndaually inthe agerewte, they cold ‘estonably be expected to nflucnce the economic deckons of wee taken oa the baa ofthese conse financial trent As pct ofan suit in acrnance with ISAs, we exrciepeofesiona jdguent aod sitin profesional ‘skepicr hecho he nud. We ao 1 Ldn and tes the ks of material misstatement of dhe consolidated nancial statements, whether de to aud rece design op peforn aut procedures esponsiveto thor rl, sc tins odence et Es alco and spropeinto proridea bass fooar pon The rk of ot dct a neil eartteret revlang fom fad i higher than for one rsuling fom cao, Saud may spvolve cali, fogs, invenconlomisions, misepeseaations,o the orene of nea ont, + On an understanding of intial contol leant othe uit inorder to design at posed haa Spprorine in the cremances, bor act forthe purpne of expeesing an opinion on the Heeenci of he Stoop internal conta. + Braue the appeopineness of counting policies wed andthe eesomaleness of counting estimates sod slated dalsuts mde by management + Conclude onthe apropeaunes of managements we ofthe going concern basi of acountng and, based ‘onthe act evidence obtaned, whether mater wera eit rested to eves or cons ht at ‘ist gist doubt om the Groups ality eo contnse ar 1 going concer. I've concade hat + ate “Uncen eis, are meted fo dss steabon in or anor repo 0 the sed lates in the -onsolated nancial senate if sich dclosues ae imideqate, oto or option, Out consions fate bss on the aut erdence binned up to the dat of out aor’ wept. Hower, ie events ‘ondiions ay cause the Group to ease 10 cone a going ence, - Evahate the ove peeetaton, uct and content ofthe contlised Gani statement, including “he loses, ad wheter the consoled nancial statements repent the unde tesacone Ad ‘sre ina manner tt cheese posentton ‘GrantThomton Independent Auditor's Report tothe Shareholders of National Industies Group Holding ~ KPSC (eontinaed) Auditor's Respunsiblties forthe Audit ofthe Consolidated Financia Statements (continsed) + Obaiasuticinr appropsate adi evidence regan the nancial infeemation ofthe ea or basineat ‘cscs within te Group expres an opin onthe consolidated inne statement, We ae eponsile forthe diction perviion sd perfrenes of the Group ud We remain ely responsible for our a pela ‘We communi wich those chaged wih governance reading, mone oer nates, she planned ope and ‘ming ofthe ao and signe uct Hogs, eluding anya deicencs i teal contol Bat swesdena drs our uit We sho proviethove charge wih govemance wth a natement that we hare complied with evan til equremenes renting independence, and to commie wth them al stone ad ote mars hae "may reasonably be though fo Beton ov independence, and wheze aplcabl, eat sega. From the maten communicated with thove charged with governance, we deerme hove matters hat were oftmeat sigcnce inthe aut ofthe conslaedGnancl taerents othe cmen peed and ar hecfore ‘hele sudan We desc thse mater in ou audtor's repo nes aw oregon pets pai ‘declonre abou dhe mater or when, in exteme'y rte ccumstance, we deterne that a mer sel no ie communicited inno report beenote te averse coorequence of dng co wuld taronaly be expected 10 oureigh the pbc interest benefits of such commbaicon, Report on Other Legal and Regulatory Requirements Furthermore a our opinion, proper books of acount ove been kept by the Parent Company and the ‘onsite Graciela, topether with de content ofthe epert of he Parent Companys Board of ‘Datos slang to thee consoled nancial atements ar in accodanceteremth, We futher report ‘har we obtiedall dhe information and explanation tht ee requte forthe pupiee of ox at ad that ‘the consolidated fnancalsutemests incorporate al information thts zeqited by the Comune Law No.1 (of 2016 and i Executive Regulations as amended, and by the Paret Company's Meranda of Incorprston a Ailes of Association, as amended cht an inwenoey was dl eared oot na that, nthe lost of our knowledge and bec, no wndons ofthe Companies Lay the Exes Repltons, oof the Parent Company Memorandum of Incorporation ard Ailes of Astin, m amended, hive occ sdcing the yea ended 31 Decerber 2031 thae might have had mates effect onthe Busines or Banca poston ofthe Pen Company. We further rept that the bet af ou knew and bel, no veins of provisons of he Law No 7 oF 2010 repeting Capital Markets Authority (CMA) apd ie reat regione have ocuted during the esr ended31 December 202 that might have hads resect on the Basie oe fac postin the Parent Company, Abdulla MAL Aiban (CPA) (Licence No. 948) “of Gant Thomtan ~A-Quen, Al-Abun Paros Kesnit 27 Maech 2022 Consolidated statement of profit or loss ‘Sentiuina aneation: See Costot sales oy om rac st abe roa rt roe 3 Shave free of acocitee 2 ‘Ghangein far se ofieesvent popes onion curency exchinge ‘Genera asso end cher expenses Inpatrot osas a Profioss before taxation and Decor remuneration ‘Tana caigelrevred on overeat cacao, itr ferararton = a Profiles] ore year Won conning operations Plscontnuad ogrations: tert arom denims peratone ra Profillss) forthe yor a Profits} forthe year tiburabo wo “Gunersahne Pen Company Nonsodotng meres Bale and ted eaingaos) per share atbuale to the Fercortaigopeni exes) oz (ates) ‘asm ais) (30) fo one ra820 ios en 7 Fle bee tanto page 1219 fra intr par of toad anal aon 2m (e180) 18.206 (20306) a0 228) 8) a0 a0) co) eran, on, ‘ee ase) con) rca) ez (#6652) 50 Fe Fle 5 Consolidated statement of profit or loss and other comprehensive income sem 28 worene 00 Profits) re year onsee (as082) the comprehensive Qoespincene: Iams tt my be rocass lod sbsoquenty profit les ExBangsaterrtaatngen rans cg pesos 42 Shar oon Snpetone ber ssoaaee mt 3298 ttt wil ot berets saben proftars etn beat sce prato) op Rechengue no vauecftancaosna FVTOC! i Seca conpetacte hometett aasdts ‘ast as Ta oer canproerave eseincone fer ha year Prd Toa compebrsive inom) forthe yor wat, “Tea compreensve incon forthe year title ‘Suet tne en cama cum oreowentg ti Caan at) The wr ton pas 12 06 fr ang pa of bcm aoa tenets Consolidated statement of financial position Noe 2028 2020 Assots (asm ana cash uate 6 sas ‘ete reco nd rsa ‘e sore Fans saets a vate trough ro ores i seg atte Fanci ses at fa vale youn te comprohense nome ss Sensor oloe Rogtofure tasets 7 Soa Ireetnon operas wm coon Inveatnert faaoeates Bo stems sian Property pant en equpret 2 he “asa lange eats st oer Due to nis 15 tages ans Potcute payee a te tion 2B te Be Sores rare oe Bovownae 2 aakaoe car te0 Bonse % "hao “Sram Provan is tages tae “otal aloe Fam Tease uty stale to ome ofthe Parent ompeny Share premum B ‘2 ‘rae shares 2 35) Sey Sn ew ene s ese er components cgay 0 en Retaved Seno : 2253 ‘auity sinter owns of the Parent Company sz5c08| Neneorroting riose 1 cet “To ts at mpg 12 fron ie pr fh otal anil ean "macys mun png yd aw a 9 24 Ba eto wees eee eave oe sey —~—Cw eae as Toe auoeg Te aU ear —iaev usa cy teeye fewer 0 oes aise) ei TDOLAT sees eau 0 a0 se see) owe weer eee ~~«CGLEOC) eae nav oH ‘cit sirbets steeds ages Soin ean er Seaway TRIOS wae AAT Bs a FORDE BT Ayinba ur saBueys jo yuawayeys payepljosuoy, “acs runny punyu nd lin we a 9 9 2) ed vom op 9g, wiser —eowuee eee wee Gio) emer vale eae aqusoog eve eG 160% TOOIAE I Hneee waseuy 9 88 U9 HED co owo2u sD OL esa iba eNsuBIED ez ‘mot my Ho ‘vaca ew Houma ie suoRSESUER OL 26 | core) ‘srsribe 90 pus vom pIesOD ae) “Heprsaree fa venga ee) eo Giwen Ped pening own seu ou pee Powe ‘Sun suonoesue ooocr ——eaale—~—(evee awe wire GIO azz aden ‘ear beruer te s0868 ao.a% o00,0% gona oua.0% 900% geno 99H.0, 008, a4 feist sutures Agmboyo—sanoses Sarge iad nd “ors Pow) snuodio> eimat pie —Anasann —“evnyg ‘Sous = ‘ano “toimeg er Saeay aeaaR aie HTP OUMG A BBNGTE HDS (panuguos) Aynbe ut seBueys jo yuauiayeys payepljosuog, Consolidated statement of cash flows OPERATING ACTIVITIES SET stemtanate ne soetareeecenat “changes n operating assets an bie: ‘cont roavable na omer ase Franti sees al vue fvough foros ‘aos poy od oar tbe, Neteath fom arena operons Net eaehveoen gesontsae partons Net cash rom operating actin Purchase ery, plantar equpnent Poseec fom Sapa of ese an snd aunt Dien rca om sesocaee ost em date eons Purchae of tnanal eeses EVFOR! ‘rset rama anc see FTC! Proowote fom depos of subelary ‘resin of trier dpe mang star rere Decrease naka stents [adie goo ter mangle sats Net aah om investing atten ast (ois) ‘ea sae "550 9) an ‘a0, Sr) "03 oe airy aie (eso) Big he mt 4 ope 12 65 for anneal ot of hoe once foi! ttn eat entes ie arse) (13.000) Consolidated statement of cash flows (continued) FINANCING ACTIVITIES: Netineeasedorea in torownge Net uresainacr nba Repaymant tne tauiie Betsend pitt en searing ese Procuots om eof rear shares raed pais he ours in Parent Conan {Ghangehnancaaling Pres Netetsh used a nancing ston Frag crenywaralson Seirenee sesh equates trouble the Sepa poup erdesh eval at egening ofthe year end of te year % Tints sot ng 1206 jm am neal tof hoe maid fea! tet Hee Notes to the consolidated financial statements 4 Incorporation and activit ‘aicelTdostis Group Holding ~ KPSC (he Parent Compan”) was incorported in 196 a Kui Satchoing cmpany in scordanee wi the Commersat Companses Law inthe Ste of unit andin pe $03, te oa state wos chunged toa “Haig Corypany” Th Parent Company slong wif subsites tj sefrzedcon the Group™ The ParentCompany’s shares re ade onthe Kit Sock xchange td Dubs Financ Macks, The main objcver of the Parone Company at a os + ming stocks and sha in Kiva non- Ki shareholding eenpaies nd share in Kut or op Kival ted aby compe and parang in the ertablshmenf lending and managing oc these companies and segs 2 ganrnioe fr these companies, = Lending mcney to companies in which itowns 2M or more of te capital fhe bot company, slong wthacungac guritc co behalf ofthese companion + ning ites sich x pte, indi traders, rope, or ay ober eed sighs and feanching them tthe companies or wing them within ores the State af Kea. = Oring es etateand moves peopeny t conduct ie operations within the ia spate by = Employing excess nds arable by ering them in invert and eal exe porfolios mange by spetalued compan, ‘The addes ofthe Parent Companys septere offi PO Box 47, Saft 1305, Sate of Kui The Boar of Directors ofthe Parent Company approved thes contoliditd Gna statement for iaance ce 27 March 2022 The general nembly ofthe Parent Companys thacholes fa he powestamend dese ‘eotliied financial stents afer ance 2 Basis of preparation ‘The cansoided final satements of the Group havebeen prepared under historic cos contention except {os ian ast afr vale Brough pet rls, Shanclsaes va tha ote ccnprebesire Inccme snd invertmentproperse tht have been meant a fale “The conscidted nancil saemens ae presente o Kiwi Dis (°KDY) an all amounts a sounded to ‘heneaertthousend (KD U0} exept when etherviteindeated ‘The Grayp has decd to prevent the “aatement of compcheniv income” in two sient the senent ofproteo lon and» "satenent of prot ces and ater conpeeensre come”, 3 Statement of compliance “Teese comoliditedfinanclsements fave Been prepared in acondane wih the Inertial Financia Reporing Stindrds CTFRS#”) prolate by te Intemational Accounting Sundae Board CLASB?), and Inverpettion sued by the interatcenl Fazal Reporting Interpretations Commitee CHFRIC?) ofthe USB 4 Changes in accounting policies 44 Newand amended sandards adopted by the Group "Nonew amendments ox standeds were effete or the cere porting pesiod cep for the extension of ‘he IFRS 16 amendment cnc blow, ations ntti Crp Hany PSE ans Sade cy Notes to the consolidated financial statements (continued) 4 4A New and amended standaeds adopted by the Group (continued) Amendment to IPRS 16- COVID-19-Relaed Rent Concessions beyond 90 June 2021 Te IFRS 16 Lenses amendment relate t2 Cori! Ren Related Concessions at has ben extended unl 30 June 2122. ‘Te pacts! expedient allows lestees ose t Bot cary ot ap asesmen odes Whether CCOVID-19 elated ent cones ected i ese main, The lee permed 9 segue fr the sent concession ithe ene bt ease modest Impact of the inital application of nerest Rate Benchmark Reform the cent year, dhe Geoapadvptd the Phase 2 andes ners Rate Behar Reform amends {0 IFRS 9,13 39, IFRS 7, IFRS 4apd IFRS 16 Adopting dure amendments eae the Grup oe te ‘fects of tansionng fom intesank offered rts (BOR) 10 aerate benchma reat rats (80 ‘eter isk erate or RFR) without pring ic To acounsing imps the would rer prose wel infotion wo ses of Sani tate “The Group it manigng the tami stvies and continues to engage wih lenders 0 s4ppon an ond ‘easton td to mingte the sak eulng fn the tas, 42 IASB Standards iemed ut not yet effective [Atte date of uthoriation of thie consolited Sans statement, ceria ew Standard amendment and inteetsions to ecisting stands have Been pubcbed by the [ASB bu ate not yet fear, and hate aot bee doped aby the Group. Management scp thal ofthe sera pronouacnat wil be adopted inthe Gao accounting polices fr theft period begining afer the effective date of the ponoancereat,Infraon om ne andardy amendments and inerpretatons that ae expeted fo be relevant to tke Gross cased finncialstaements x promi Slow. Crain other new sandade sb tpetains fave ben eed bat ‘Nc nov expected a have «mats input onthe Group's consodeted inane infomation Stoddart na pine is TERS 10 and IAS 28 Sole ox Cnttbaton of Resets between a Tv and Associate o Joint Ventre ~ Amendments No stat dite TUS 3 Amendment Refarence tothe concep famenod nse 9 TAS 1 Arendt Claxfeng of comet snd ton-cusrent 1 nua 203 TAS 1 Arendinests- Dilosre of accounting plies Jay 308 LAS # Armendinente Defnton f accounting eats 1 asus 2008 TAS 12 Income ter Deere a ested o ster and abies ang from single wamaction ‘ana 25 TAS 16 Amernets~ Proceeds before intended se 1 Janay 22 TAS 37 — Amendments ~Onerous conc Cot of fliling a contrat Janay 2022 ‘nasal Inpeovements 2018 220 Cyle 1 Janay 2009 TERS 10 and IAS 28 Sale or Conubution of Assets etween an Investor and its Associate of Joint Venture Amendments The Amendments fo IFRS 10 Consolidated Franc Statements and IAS 2 loveurents by Assocines and [Join Ventures 2011) caf the extent ofthese oe conabton of ats fom an inveterate aseiate ‘in venture, fos atone ete Group Meng PEC wt Bub 14 Notes to the consolidated financial statements (continued) 4 Changes in accounting policies (continued) 42 TASB Standards issued but notyet effective (continued) IFRS 10 and IAS 28 Sale or Contutbution of Astete between am Investor and its Associate or Joint ‘Venture ~Amendenent (continued) coi fil ecogaion in the investor's finns etatements of grin an ote asing onthe sale ot ‘concbuton 0 sets dat constiate a Duss (defined in IFRS 3 Business Combintons) 1+ reuize the partial ecogiton of gins ad loses where the atc do not consi batine Lea un or Lone scopic only the extent ofthe unesed veto intrest in ht asoct Ot Fant weomne “There seguinements apply epithe Ing form of she enact, og whether the leo contusion of scr occurs by an inventor tanafring shares ins esi tat ds the att rl Tos of ona ofthe bie) oy the deca of theses heme, TASB has posponed the elective date indefinitely unl her projets ace cinspleted, Howeren, ay impkmentitien is lowed. Maeagement ancipates thatthe aplcton of tere zmendments may ave 3 impact onthe Grenps consolidated Grane taterent i ate shoul ch anasto are IFRS 3~ Reference to the conceptual framework Theamendnens adda eager ht, fo obligions within the cope of LAS 37, 0 acquit pple IAS 8 todeemnine wnether atte aequston data prevent cbligton exits sa es of pate or ery ‘hat weal be waitin the scope of TFRIC 21 Levy the cuts apples FRIC 21 to determine wheter the ligaing even tative ise oa aby pay they har esuced by he api date. The amendents slso ad an explt statement Dat an seg doer ot rengnte content atts acqued i 4 hanes: combinaion Mangere dont ape th he aden of ie ass he te wl ve iin inpact en the Group's cansaeste financl stati IAS 1 Amendments Caesfeaton of current or nomcurrent ‘TheamendmenstOIAS Tels the cssenon of aby ther cent of non-ceren isbse on the i's igh atthe end ofthe parang period. Sting management expectations yond hehe they ll Sher element cr nor doesnot ampact he clrieation othe Ibi. as ded gudane about engin, Crna anew there can pact claeenon and bas inhi req for abs thas can be led ing a en's. instrament Management doct noe atipate hit the adoption of the amendments nthe fre wil havea igificane impact on th Groups consolidated fancal tterents IAS 1 Amendments ~ Disclosure of accounting policies The smendiments t TAS I require eae to done tate scouting pies instead of sient sccnng polices, The amendments cli tatacountng plicy infonmait nay be mate beeuse snare even ifthe elite acts ae materia, ‘Management dos nr ascipte thie dhe adopion ofthe amendments te Fut wll ve 4 scat Jipat em the Group's conde financement Notes to the consolidated financial statements (continued) 4 Changes in accounting policies (continued) 42 IASB Standards ed butot yet effective (continued) IAS 8 Amendments Definition of accounting estimates The amendments 0 TAS Pride a9 sempton fom te i! sive xomptin povided in TAS 2.150) ind IAS 1224 Accotdingy, the i ecopaon exenpion dow mot spp 0 taactons in whith cal ‘mount of dedoeable and tule espa fecence re om nal renga This also explained the newy inserted paragraph LAS 1222. Management doce noe antipate hit the adoption ofthe amends inthe Gate wil havea signe ‘pact onthe Groups consbdated ancl teen, JAS 12 Amendments ~Defereed ts related to atsets and abilities arising rom a single wansaction ‘Thesmendment to LAS [2 inserted te definition of accounting eximates epithe Jefiion ofa change in accounting estimate, Accounting etmates are now defined 42 money amount ia fsa sateen Ut are subject to measurement unceniy IAS 16 Amendments - Proceeds befor intended use ‘The smendment profits sn eny fom ding fom the cox f prope, plant and equipment amounts ‘cet tom sling items produced whe the ett is pecparing de ee fo entered ae Tt aur wl eeognie sch sles proceeds nd ied cat in pratt eos Managment doc not nite that he aegion ofthe smendment in he inc wil be sii impase ‘on the Group consolidated Eran states, JAS 37 Amendments—Onerous contracts: Cost of fulfilling & contract The amendments specify which cost sn nt acide whe asetsing whether conc wil best mating “The amendenets clit tha for dhe purpone of axtesng whether a contract toner the cst of Gling the contet icdes bos he incremental cots of iing tht conie: sd a ecto of ots coat hat ‘te diet to filling contect Theamendments are onl to be applied to cates for which an ety bas not elle aloft oligos tthe beginning ofthe annul ped in wis ts pple he smendmen ‘Management dot ot stipat that he adoption ofthe amendment the ite wives spicata cn the Groups consolidated Srancal en Annual lmprovements 2018-2909 Cycle “Amendment to TAS I simplifies th apesion of IFRS 1 bya sucidary that becomes sftsine adopter afters patent ia selation to the measarement of cumulative transaon ferences Slay tht xe fie adopter ne than is purent mile Have been requ 0 keep pall seo acon ead ot Cumulative talon dierences based em ferent des Of tanston eo TFRS# Hower, the amendment ttonds the exempaon © cunultvetansinencfeences to rece cot foe ft tne apts Amendment to IFRS 9 relates tothe 40 per cen’ Tet for Dezecogaiton of Financ Tibi ~ fn dering whether to derecogize Sean aby that hat been modied or exchange, 2 ty sae, “whether the terme ae subnantely dere. The amentent cares the es that an ny nls When sean whether de tem Of nec modied rane tiny awstats th ene of the org! enc aby. atone cists Soup Hoang PSC nd Subarice 6 Notes to the consolidated financial statements (continued) 4 Changes in accounting policies (continued) 42 TASD Standards laud but ot ye elective (continued) Annual Ieprosements 20182020 Cycle (continued) Amendment to IFRS 16 avets the poten for confsion in appping IFRS 16 Leases bec of how losatveEaample 3 accompanying IFRS I6had ited the ree fore tte, foe the serendment,lsrestve Example 13 ad incl a Pst othe ft psern & snbrsomen teliig 1 lestho improvements the exanpe bade explained ley enone the conclasion arto whether the reimbussemene would meet the definition ofa ere seenve in IFRS 16. The LASB decided to remove the Potential for confusion by dleting from Ikssative Example 13 the rmbsrement cling 9 lcd “Amendment to LAS 41 removes the rqtemeat in IAS 4.2 to exci sation csh Bows hen messing fuevalue This amendment alos the requires in LAS $1 on fe vale esurrent with thine in ter TRS Standard Mangement des nt sotipat hat the adepron ofthe amendient inthe Gtie wil have signfcane pact on the Groups consisted Grane statment 5 Summary of significant accounting policies. The sigaicnt accounting policies and meanurements See adopted in te pepution ofthe consoled financial sements ae saat below SA Basis of consolidation Te parent contol subsidy itis expose, ot as igh townie reams om it nvohement withthe ssbetlaey and has the ality to affect those etuns iu ie poe ove the eabday. The fei ‘atements of he subsidies ae peared foe epoting dates whic ac pay not more than thtce months from that ofthe Piet Company. wang consent cena policies. Adutrent are ade fete fet OF ny sigicant uaneacions or erent tat oie between that dee and the teportng te ofthe Paced Company's fine statement Al wansacons and balances between Group companie at clinnated on como, incu wre (pins and losses on teusardoms between Groep companies, Where unrediedlonss ona Gr st set re zeversed ce consolation, the undecing ae alo texted fr anpainet fom Group pepe. Amounts reported inthe finns statements of subd have been ahuted where neces este ‘onsstency with the accountng polis adopted by the Group. Profit else and oer comprchensive income of subd scgsired or dipoed of during he yo te recognise fom the elec ate of segusion, ora 9 the eter date of crpoal ss ape Non contol interes presented a part of ety. represent the potion ofa subd’ poi oot and ee acts that Is ne held by she Group. The Group atabutes teal conpechenine income o low OF ‘nbsidaries Deewen the nner ofthe pet andthe nomcontling intents baa on the rexpedve wnentip inet ‘When conuollng interest in the subsidies is dose of he eierence Besa the Sling ice sd the set ase value plus cunulate ansaondifreace and goodie recogicd inthe consid state tpt oroes. The fae value of any nvesiment retained the former soit tthe date wh ome is lost spared sche fava on ial ecogion for abesuent ecouving nds IFRS when spe, ‘rhe cost om inital recognition of an nvesment in soc O int vetur Notes to the consolidated financial statements (continued) 5 Summary of significant accounting policies (continued) 51 Basis of consoidation (continued) However, hunger inthe Groups ners in sbi that donot eh nao of contol ar econ frase tanssctons, The eng amount of the Gros nee sod the nco-coneolig ise djs wo sett the changes in thine nee in the ube. Any dflerence between dhe acu Dy'which the on contig intrest ae adjusted sd the a ale ofthe omlrson paid ce receved ie recognised dein uty snd ated tothe mer ofthe Daren Comp, 52 _ Bins combinations ‘The Group applies the aequston method in accounting for bosinest combinations. The cnsieston uated by the Group tobi contol of subir cel the om ofthe aceon date ur ‘oles of assets wanted abies incured 2d the eq interests Bsbedby the Group wich ncloes the Fic value of any arto abt aking from contingent coniderationacrgement, Acton Cnt ae capemed 1 cured: For eich busines combination, the sgurer mesures the non-contoling itz the eee cter tir aoe or at the proportionate shar ofthe ane’ Henne et ae, tue snes combination i achieved in ge the seuiton dt fiw he acqier«pevic eld ‘uty nee in the aeqiee¥ rmeuted to fr ale atthe aeqision date through the conoid xemencof prof oro, The Group eecognises dentable sets acquzed snd abies sumed business combinstnseardees ofwhethe they hve been previously cepted inthe acquirer's nancial statment per tothe aq, ‘Aes angie anda sevamed are general reseed ot dex acu ae tale, When the Group seq a busines, it aseres the Franc aces and Unies asumed fo aptopite lassfcation an designation i accoance with the contac terms, ecooniccxcumatanes dl pst ondton the acelon dete, This incdes the sepurition of enisd dewaves in ht creat by thesequee Good i sted afer separate ecogption of denduble tne sre [eis aleluea the ec othe ‘Fm of) faz vals of eosiersuontasfeed the reegaised moan ofany non contling erect ‘hese ade) acqusnon date valve of any essing ey intrestin th sete, over he equi dite fie values of enable nt ast fhe fen uf enable nc ucts exe the som caleuated save, the excess amount (gin oa bagan purchase) is ecogisel in the oncodated sate of profit elas mediately 5.3 Good and other intangible antes S31 Goodwit ‘Goosilrpresents the Fue economic ene aking rom a busines omni that ate nt ndrday ‘ened tnd separately secopsised. Godwil caved at on len aecuulatel paimet Ie 5.52 Other intangible asses Teele sees aguzed spurt ace meanued on nia ecogaition at cost, The cost fintangibe sets cured in business combinations the fiw 5 the date Of aequion Following intl ecoition, inngible ass with ie wets ae catia cones oy asculted smortiton sa any accmlte nent foes The useful Ife and anetation setd ae seve ‘atoll 10 ene tat the method snd period of amorsaton are consent with the expected ate of ‘conor benefit from tems of nt agile ees, nig sete with nde wef vt re ad costes accumulated npiement lot. Notes to the consolidated financial statements (continued) 5 Summary of significant accounting policies (continued) 53. Goodwill and otter intangible eset continued) 542 Otherintangible asses (continued) 532.0 dase Rg fie RU) RU are the ght to use portion of the apa of teeta or sbmrne anus abe granted for 2 Ged pei IRUs are second a ort aan et when the Group ha the pene indie ight oe 2 dened porn of th wnering tet, geneely opel Hes oe diatee wavelength Bde he dratinn a the ight or he mae par the nesjing ast eronorme fe. They ae atta ca sightiine bse over the shorter ofthe expected period of te snd the Ue ofthe contact which ranges between 10015 yar, 54 Iavestment in ancintes Anasaocites an en over which the Group hs sgucant influence and that sneer abide a0 0 Interest nin entre. Sigafcantinleneeis the power to prcpte nthe ci sad peri poy

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