Annual Report - QuamIR
Annual Report - QuamIR
Annual Report - QuamIR
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Notes to the Consolidated Financial Statements<br />
<br />
1 General information<br />
HKC (Holdings) Limited (the “Company” or “HKC”) is a limited liability<br />
company incorporated in Bermuda. The address of its registered office<br />
is Clarendon House, 2 Church Street, Hamilton HM11, Bermuda.<br />
1 <br />
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Clarendon House, 2<br />
Church Street, Hamilton HM11, Bermuda<br />
The Company and its subsidiaries (collectively the “Group”) are<br />
principally engaged in the business of property development and<br />
investment, alternative energy investment and operation, infrastructure<br />
and construction. The investments of the Group are mainly located in<br />
the Mainland China.<br />
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The shares of the Company are listed on the Main Board of The Stock<br />
Exchange of Hong Kong Limited (the “Stock Exchange”).<br />
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These consolidated financial statements are presented in million of units<br />
of Hong Kong dollars (HK$ Million), unless otherwise stated. These<br />
consolidated financial statements were approved for issue by the Board<br />
of Directors on 22 March 2012.<br />
2 Summary of significant accounting policies<br />
The principal accounting policies applied in the preparation of these<br />
consolidated financial statements are set out below. These policies<br />
have been consistently applied to all the years presented, unless<br />
otherwise stated.<br />
2.1 Basis of preparation<br />
The consolidated financial statements of HKC (Holdings) Limited<br />
have been prepared in accordance with Hong Kong Financial<br />
<strong>Report</strong>ing Standards (“HKFRS”). They have been prepared under<br />
the historical cost convention, as modified by the revaluation<br />
of investment properties, available-for-sale financial assets,<br />
and financial assets and financial liabilities (including derivative<br />
financial instrument) at fair value through profit or loss.<br />
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2 <br />
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2.1 <br />
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The preparation of financial statements in conformity with HKFRS<br />
requires the use of certain critical accounting estimates. It also<br />
requires management to exercise its judgement in the process<br />
of applying the Group’s accounting policies. The areas involving<br />
a higher degree of judgement or complexity, or areas where<br />
assumptions and estimates are significant to the consolidated<br />
financial statements, are disclosed in Note 4.<br />
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4<br />
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