disclosure of financial information · balance sheet balance sheet as of june 30, 2017 liabilities...

DISCLOSURE OF FINANCIAL INFORMATION

06 / 2017

TABLE OF CONTENT First half of 2017 unaudited accounts

Balance sheet

Profit and loss Account

List of the shareholders with qualifying holdings

Names of the members of the Company's Board

Cash flow statement

Off- balance- sheet exposures other than derivatives transactions

Derivatives transactions

Related party transactions

Capital

06/2017

Credit Risk

Marketing risk

Interest rate risk in the banking book

Foreign exchange risk

Liquidity risk

AMCM's guidelines dated 16/11/2012 (Circular no. 026/B/2012-DSB/AMCM)

Geographic distribution of exposures 26

Geographic distribution of exposures 27

Industry distribution of exposures 28

Maturity analysis on assets and liabilities 29

Analysis on past due assets 30

BALANCE SHEET

BALANCE SHEET

BALANCE SHEET AS OF JUNE 30, 2017 MOP

ASSETS GROSS ASSETS PROVISIONS, AMORTIZATIONS

AND NET VALUE NET ASSETS

CASH 1,822,759,754.57 0.00 1,822,759,754.57 DEPOSITS WITH AMCM 469,867,720.03 0.00 469,867,720.03

CERTIFICATES OF INDEBTEDNESS ISSUED BY THE MACAU GOVERNMENT 7,941,449,556.13 0.00 7,941,449,556.13

ACCOUNTS RECEIVABLE 161,091,310.44 0.00 161,091,310.44

DEMAND DEPOSITS WITH OTHER CREDIT INSTITUTIONS IN MACAU 271,359,047.32 0.00 271,359,047.32

DEMAND DEPOSITS WITH OTHER CREDIT INSTITUTIONS ABROAD

1,270,615,919.93 0.00 1,270,615,919.93

GOLD AND SILVER 0.00 0.00 0.00

OTHER CURRENT ASSETS 2,306,252.03 0.00 2,306,252.03

CREDIT GRANTED 25,861,910,945.89 92,715,517.88 25,769,195,428.01

PLACEMENTS WITH CREDIT INSTITUTIONS IN MACAU 9,029,273,000.00 0.00 9,029,273,000.00

DEPOSITS AT CALL AND TIME DEPOSITS WITH CREDIT INSTITUTIONS ABROAD 13,791,944,135.47 0.00 13,791,944,135.47

SHARES, BONDS AND EQUITY 4,060,226,983.74 0.00 4,060,226,983.74

INVESTMENT OF ASSIGNED FUNDS 0.00 0.00 0.00

DEBTORS 170,426,981.12 0.00 170,426,981.12

OTHER PLACEMENTS 0.00 0.00 0.00

FINANCIAL INVESTMENTS 8,942,801.99 0.00 8,942,801.99

PROPERTY 1,842,567,724.56 100,890,177.63 1,741,677,546.93

EQUIPMENT 140,976,499.70 109,795,409.54 31,181,090.16

DEFERRED COST 82,525,525.08 69,732,793.26 12,792,731.82

START-UP EXPENDITURE 0.00 0.00 0.00

FIXED ASSETS IN PROGRESS 21,781,815.26 0.00 21,781,815.26

OTHER FIXED ASSETS 1,833,731.65 0.00 1,833,731.65

INTERNAL AND ADJUSTMENT ACCOUNTS 383,077,172.38 0.00 383,077,172.38

TOTAL 67,334,936,877.29 373,133,898.31 66,961,802,978.98

BALANCE SHEET

BALANCE SHEET AS OF JUNE 30, 2017

LIABILITIES SUB-TOTAL TOTAL

BANK NOTES IN CIRCULATION 7,856,522,480.00

CURRENT DEPOSITS 17,326,941,825.79 0.00

DEPOSITS AT CALL 0.00 0.00

TIME DEPOSITS 9,186,828,835.11 26,513,770,660.90

GOVERNMENT DEPOSITS 20,174,233,048.18 0.00

AMOUNTS DUE TO CREDIT INSTITUTIONS IN MACAU 448,587,712.76 0.00

AMOUNTS DUE TO OTHER LOCAL ENTITIES 0.00 0.00

AMOUNTS DUE TO CREDIT INSTITUTIONS ABROAD 4,278,068,510.50 0.00

ASSIGNED FUNDS 0.00 0.00

CHEQUES AND ORDERS PAYABLE 1,798,486.85 0.00

CREDITORS 121,686,706.58 0.00

OTHER LIABILITIES 177,667,004.39 25,202,041,469.26

INTERNAL AND ADJUSTMENT ACCOUNTS 0.00 559,766,082.24

PROVISIONS FOR RISKS 0.00 286,561,218.70

CAPITAL 2,000,000,000.00 0.00

OTHER RESERVES 4,263,891,050.87 6,263,891,050.87

NET PROFIT BROUGHT FORWARD 0.00

NET PROFIT FOR THE PERIOD 279,250,017.01

TOTAL 66,961,802,978.98

MOP

PROFIT AND LOSS ACCOUNT

PROFIT AND LOSS ACCOUNT AS OF JUNE 30, 2017


OPERATING ACCOUNT

DEBIT AMOUNT

COST OF CREDIT OPERATIONS 247,383,052.79

PERSONNEL COSTS 106,472,676.43

REMUNERATION OF BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE

4,069,016.00

SALARIES AND WAGES 88,543,064.37

BENEFITS 13,134,544.78

OTHERS 726,051.28

THIRD PARTY SUPPLY 4,481,748.15

THIRD PARTY SERVICES 45,530,363.30

OTHER BANKING COSTS 99,551,427.31

TAXATION 779,406.76

COSTS OF NON-BANKING OPERATIONS 2,653,651.13

DEPRECIATION ALLOWANCES 26,073,558.04

PROVISION ALLOWANCES 22,613,116.78

OPERATING PROFIT 305,346,799.61

TOTAL 860,885,800.30

CREDIT AMOUNT

INCOME FROM CREDIT OPERATIONS 637,019,474.42

INCOME FROM BANKING SERVICES 170,250,553.09

INCOME FROM OTHER BANKING SERVICES 32,747,050.68

INCOME FROM SECURITIES AND EQUITY INVESTMENTS 5,020,723.60

OTHER BANKING INCOME 12,179,143.91

INCOME FROM NON-BANKING OPERATIONS 3,668,854.60

OPERATING LOSS 0.00

TOTAL 860,885,800.30

PROFIT AND LOSS ACCOUNT AS OF JUNE 30, 2017


DEBIT AMOUNT

OPERATING LOSS 0.00

LOSSES RELATED TO PREVIOUS YEARS 2,653,328.53

EXCEPTIONAL LOSSES 0.00

PROFIT TAX PROVISION 40,674,781.89

PROFIT FOR THE PERIOD 279,250,017.01

TOTAL: 322,578,127.43

CREDIT AMOUNT

OPERATING PROFIT 305,346,799.61

PROFIT RELATED TO PREVIOUS YEARS 14,577,999.29

EXCEPTIONAL PROFITS 0.00

PROVISIONS USED UP 0.00

LOSS FOR THE PERIOD 2,653,328.53

TOTAL: 322,578,127.43

MOP

MOP

LIST OF THE SHAREHOLDERS WITH QUALIFYING HOLDINGS



• Caixa Geral de Depósitos, SA. -------------------------------------------------------------------- 99.425 %

NAME OF THE MEMBERS OF THE COMPANY’S BOARD

BOARD OF THE GENERAL MEETING

NAME OF THE MEMBERS OF THE COMPANY’S BOARD

Chairman:

Joaquim Jorge Perestrelo Neto Valente

Vice - Chairman:

Liu Chak Wan

Secretary:

Pedro Afonso Correia Branco

from31 March 2017

Chairman:

Caixa Geral De Depositos,S.A.,

represented by José João Guilherme

from 31 March 2017

BOARD OF DIRECTORS

Vice - Chairman:

Pedro Manuel de Oliveira Cardoso

Members:

Leandro Rodrigues da Graça Silva

Alberto Manuel Sarmento Azevedo Soares

Armando Mata dos Santos

Tse See Fan Paul

Tou Kei San from 31 March 2017

EXECUTIVE COMMITEE

President:

Pedro Manuel de Oliveira Cardoso

Members:

Leandro Rodrigues da Graça Silva

Tou Kei San from 31 March 2017

Sole Supervisor:

CSC & Associados – Sociedade de Auditores

represented by auditor, Chui Sai Cheong

CASH FLOW STATEMENT

MOP

CASH FLOW STATEMENT

OPERATING ACTIVITIES

Profit before taxation 319,924,799

Adjustments for:

Depreciation of properties and equipment 26,073,558

Provision for doubtful loans and advances to customers 8,035,117

Interest income from investments in debt securities (54,713,353)

Other Interest income (582,259,808)

Interest expense 247,383,053

Dividend income from unlisted equity investments (188,758)

Net gain on disposal of properties and equipment (103,680)

Net gain on disposal and redemption from investment in debt securities (4,831,966)

Amortization of discounts / premiums on debt securities, net 13,947,078

Exchange adjustments (72,692,006)

Operating cash flows before movements in working capital (99,425,966)

Decrease in placements with banks and other financial institutions with original maturity more than three months 2,394,472,669

Increase in debt certificates issued by the Macau Government (417,910,095)

Decrease in loans and advances to customers 298,075,435

Increase in other assets (229,245,326)

Increase in deposits and balances with banks and other financial institutions 2,993,168,199

Decrease in deposits from customers (4,686,394,672)

Increase in bank notes in circulation 56,888,110

Increase in other liabilities 30,686,167

Cash generated from operations 340,314,521

Macau Complementary Tax paid (2,359,944)

Interest received 597,549,607

Interest paid (211,677,673)

NET CASH FROM OPERATING ACTIVITIES 723,826,511

MOP

CASH FLOW STATEMENT

INVESTING ACTIVITIES

Interest received from investments in debt securities 71,963,514

Dividends received from unlisted equity investments 188,758

Purchases of investments in securities (2,173,895,622)

Proceeds from disposal and redemption of investments in securities 1,664,775,547

Purchases of properties and equipment (27,448,524)

Proceeds from disposal of properties and equipment 105,060

NET CASH USED IN INVESTING ACTIVITIES (464,311,267)

CASH USED IN FINANCING ACTIVITY

Dividend paid (280,276,553)

NET DECREASE IN CASH AND CASH EQUIVALENTS (20,761,309)

CASH AND CASH EQUIVALENTS AT 1 JANUARY 13,496,828,468

CASH AND CASH EQUIVALENTS AT 31 DECEMBER 13,476,067,159

Represented by

Cash and short-term funds 3,834,602,442

Placements with banks and other financial institutions with original maturity at or within three months 9,641,464,717

13,476,067,159

OFF-BALANCE SHEET EXPOSURES OTHER THAN DERIVATIVES TRANSACTIONS

OFF-BALANCE SHEET EXPOSURES OTHER THAN DERIVATIVES TRANSACTIONS

CONTRACTUAL OR NOTIONAL AMOUNT OF EACH MATERIAL CLASS OF OFF-BALANCE-SHEETEXPOSURES

MOP THOUSANDS

(a) Credit substitutes -

(b) Transaction-related contingencies 2,844,265

(c) Acceptances and other trade-related contingencies 9,186

(d) Note issuance facilities, revolving underwriting facilities and other similar facilities -

(e) Forward asset purchases -

(f) Unpaid portion of partly paid shares and other securities -

(g) Forward deposits -

(h) Asset sales with repurchase option -

(i) Undrawn credit facilities and other commitments to extend credit 10,304,204

(j) Other off-balance-sheet items 665,901,119

DERIVATIVES TRANSACTIONS

DERIVATIES TRANSACTIONS

CONTRACTUAL AMOUNT OR NOTIONAL AMOUNT MOP THOUSANDS

CREDIT RISK WEIGHTED AMOUNTS OF INTEREST RATE CONTRACTS AND EXCHANGE RATE CONTRACTS AS CALCULATED IN ACCORDANCE WITH NOTICE NO. 011/2015-AMCM OF 10/09/2015

MOP THOUSANDS

Elements Nominal value

Interest rate contracts 224,968

Exchange rate contracts 7,950,079

Equities contracts -

Commodities contracts -

Others -

Elements Weighted exposure

Interest rate contracts -

Foreign exchange rate contracts 122,218

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

QUANTITATIVE DISCLOSURE MOP THOUSANDS

Debit balances 13,320,270

Interbank assets 13,219,350

Certificates of deposit -

Sundry investments -

Loans granted -

Other assets 75,870

Operating cost 25,050

Credit balances 4,411,606

Deposits of non-bank customers -

Certificates of deposit -

Interbank liabilities 4,246,429

Other liabilities 12,270

Operating income 152,907

CAPITAL

CAPITAL

QUANTITATIVE DISCLOSURE OF JUNE 30, 2017

MOP THOUSANDS

Own funds & solvency ratio

Core capital - paid up share capital 2,000,000

Legal, statutory and other reserves which are created from appropriation of retained profits 2,698,073

The total amount of supplementary capital 1,430,218

Other deduction from capital -

The total amount of own funds after deduction 6,128,291

Capital Adequacy Ratio * 16.43%

* The approach of the CAR's calculation was in compliance with Notice No. 011/2015-AMCM dated 10 September 2015. Solvency ratio (i.e. Capital adequacy ratio) is the ratio of the Bank's own funds to its risk-weighted exposures (including credit risk, market risk and operational risk).

Solvency ratio for the top consolidated group

The Holding Company

- Caixa Geral de Depósitos Group 14.6%

Its significant bank subsidiaries

- Caixa - Banco de Investimento, S.A. Portugal 20.2%

- Mercantile Lisbon Bank Holdings, Ltd. South Africa 19.1%

- Banco Caixa Geral Brasil, S.A. Brazil 33.0%

- Banco Caixa Geral, S.A. Spain 17.7%

- Banco Comercial do Atlântico, S.A. Cape Verde 16.6%

- Banco Comercial e de Investimentos, S.A. Mozambique 15.9%

- Banco Interatlântico, S.A. Cape Verde 15.1%

CAPITAL


MOP THOUSANDS

CREDIT RISK

QUANTITATIVE DISCLOSURE

GEOGRAPHIC DISTRIBUTION OF EXPOSURES OF JUNE 30, 2017 MOP THOUSANDS

Country code

Name Loans and advances

Loans and advances past due

Specific provision

Debt securities

Interbank assets

Government and/ or public sector

Financial derivatives

Equity investment

AE UNITED ARAB EMIRATES 77,183 - - - 414 - - - AO ANGOLA - - - - - - - - AU AUSTRALIA - - - 456,194 5,527 - - - BE BELGIUM - - - - - - - - BD BANGLADESH - - - - - - - - BR BRAZIL 20,100 - - - 100,166 - - - CA CANADA - - - 194,160 - - - - CH SWITZERLAND - - - - - - - - CN CHINA - - - 52,213 718,877 - - - KY CAYMAN ISLANDS - - - - 760,690 - - - DE GERMANY 4,595 - - - - - - - DK DENMARK - - - 4,053 69 - - - ES SPAIN (ESPANA) - - - - - - - - FR FRANCE - - - 263,925 18,034 - 224,968 - GB UNITED KINGDOM - - - 533,814 5,446,380 - 7,673,716 - HK HONG KONG 1,665,378 - - 397,266 817,275 - 250,765 7,674 ID INDONESIA - - - - - - - - IN INDIA - - - - 30,151 - - - IT ITALY - - - - - - - - JP JAPAN - - - 648,264 19,908 - - - JE JERSEY - - - 41,596 - - - - LU LUXEMBOURG - - - 16,193 5,636 - - -

MO MACAU 23,303,395 267,506 (92,716) - 709,632 8,591,000 - 1,269

CREDIT RISK

MOP THOUSANDS

MZ MOZAMBIQUE 242,402 - - - - - - -

MU MAURITIUS - - - - - - - -

MY Malaysia - - - - - - - -

NL Netherlands - - - 203,194 - - - -

NO NORWAY - - - - 6 - - -

NZ NEW ZEALAND - - - 54,433 2,444 - - -

PL POLAND - - - - - - - -

PT PORTUGAL 254,552 - - - 6,843,481 - - -

RU RUSSIAN FEDERATION - - - - - - - -

SA SAUDI ARABIA - - - - - - - -

SG SINGAPORE 26,800 - - 146,893 10,897 - - -

ZA SOUTH AFRICA - - - - 281,396 - - -

KR SOUTH KOREA - - - - - - - -

SK

SLOVAKIA (Slovak Republic) - - - - - - - -

SE SWEDEN - - - 179,304 - - - -

TR TURKEY - - - - - - - -

US UNITED STATES - - - 868,725 1,209 - - -

VE VENEZUELA - - - - - - - -

VG VIRGIN ISLANDS (BRITISH) - - - - - - - -

25,594,405 267,506 (92,716) 4,060,227 15,772,192 8,591,000 8,149,449 8,943

Country code

Name Loans and advances

Loans and advances past due

Specific provision

Debt securities

Interbank assets

Government and/or public sector

Financial derivatives

Equity investment

CREDIT RISK


GEOGRAPHIC DISTRIBUTION OF EXPOSURES OF JUNE 30, 2017


INDUSTRY DISTRIBUTION OF EXPOSURES OF JUNE 30, 2017 MOP THOUSANDS

SECTORS Loans and advances Loans and advances past due Specific provision Charge-offs

Agriculture and fisheries - - - -

Manufacturing 574,936 - - 3

Electricity, gas and water 849,745 - - -

Construction and public works 754,988 - - 2

Trade (Wholesale and retail) 350,863 - (68) -

Restaurants, hotels and related activities 598,066 - (126) -

Transport, warehouse and communications 139,806 - - -

Individuals for house purchases 12,184,828 - (969) -

Individuals for other purposes 771,029 185,556 (24,537) 1,953

Others 9,370,144 81,950 (67,016) 695

25,594,405 267,506 (92,716) 2,653

According to AMCM's requirement, a general provision of 1% for MOP 287 million was made by the end of the period in order to reach a balance of 1% of the aggregated value of the credits which were not overdue for more than 3 months and of guarantees.

CREDIT RISK


MATURITY ANALYSIS ON ASSETS AND LIABILITIES OF JUNE 30, 2017

MOP THOUSANDS Residual contractual maturity breakdown by types and repayable periods

Type of Accounts Total

Repayable On demand

Within 1 month (except those repayable on

demand)

More than 1 month but not

more than 3 months

More than 3 months but not

more than 1 year

More than 1 year but not more than 3

years

More than 3 years

Within an indefinite

period

ASSETS

Loans and advances to customers 25,594,405 41,534 1,129,419 156,045 812,956 2,113,509 21,340,942 0

Cash and balances with and loans and advances to banks

24,363,192 1,837,763 5,653,095 12,068,050 4,804,284 0 0 0

Certificates of deposit held 0 0 0 0 0 0 0 0

Securities issued by Macao SAR Government and /or AMCM

7,941,450 0 7,941,450 0 0 0 0 0

Other securities 4,060,227 0 0 14,341 387,377 1,790,275 1,868,234 0

Total assets 61,959,274 1,879,297 14,723,964 12,238,436 6,004,617 3,903,784 23,209,176 0

LIABILITIES

Deposits and balances of banks and financial institutions

478,487 478,487 0 0 0 0 0 0

Deposits from public sector entities 20,174,233 6,764,389 2,867,136 7,890,858 2,644,804 0 7,046 0

Deposits from holding and associated companies

4,248,169 76,528 3,025,591 1,146,050 0 0 0 0

Deposits from non-bank customers 26,513,771 17,334,299 1,298,801 951,591 4,126,484 1,427,777 1,374,819 0

Certificates of deposits issued 0 0 0 0 0 0 0 0

Other securities issued

Total liabilities 51,414,660 24,653,703 7,191,528 9,988,499 6,771,288 1,427,777 1,381,865 0

CREDIT RISK


ANALYSIS ON PAST DUE ASSETS OF JUNE 30, 2017

MOP THOUSANDS Gross amount of past due assets to non-bank customers

Past due for Past due loans & advances

(including trade bills) Collateral Specific Provisions

More than 3 months but not more than 6 months 40,943 15.00% 88,426 30,424

More than 6 months but not more than 1 year 112,339 42.00% 70,829 45,262

More than 1 year 114,224 43.00% 129,801 17,030

TOTAL 267,506 100.00% 289,056 92,716

CREDIT RISK

MARKET RISK

MARKET RISK


MOP THOUSANDS The market risk capital requirements

Items Amount

Interest rate risk 0

Equity position risk 0

Foreign exchange risk 493

Commodities risk 0

Market Risk Capital Charges for all categories 493

INTEREST RATE RISK IN THE BANKING BOOK

INTEREST RATE RISK IN THE BANKING BOOK


MOP THOUSANDS Interest rate exposures at a shock of 200 basis points

Item

Time band

Long (a)

(Short) (b)

Long (c)

(Short) (d)

MOP Total net long

(short) (e)

Weighing

factor (%)

Weighted position

long (short) (f)

1 Within 1 day 6,015,795 (10,665,284) - - (4,649,489) 0 -

2 >1 to <= 7 days 3,422,141 (1,180,379) - - 2,241,762 0.02 448.35

3 >7 days to <= 1 month 2,470,552 (1,287,529) - - 1,183,023 0.1 1,183.02

4 >1 to <= 3 months 5,877,682 (4,947,165) - - 930,517 0.32 2,977.65

5 >3 to <= 6 months 1,263,856 (572,131) - - 691,725 0.72 4,980.42

6 >6 months to <=1 year 1,274,090 (2,310,232) - - (1,036,142) 1.43 (14,816.83)

7 >1 to <=2 years 83,706 (271,103) - - (187,397) 2.77 (5,190.90)

8 >2 to <=3 years 76,444 (666,517) - - (590,073) 4.49 (26,494.28)

9 >3 to <=4 years 44,811 - - - 44,811 6.14 2,751.40

10 >4 to <=5 years 57,663 - - - 57,663 7.71 4,445.82

11 >5 to <=7 years - - - - - 10.15 -

12 >7 to <=10 years 1,161 - - - 1,161 13.26 153.95

13 >10 to <=15 years - - - - - 17.84 -

14 >15 to <=20 years - - - - - 22.43 -

15 Over 20 years - - - - - 26.03 -

16 Weighted position for this currency (29,561.39)

17 Weighted position of all other currencies 119,131.36

18 Weighted position of all currencies (16(f)+17(f)) 89,569.96

19 Own funds 6,128,291.00

20 Impact on economic value as % of own funds* (18(f) as % of 19(f)) 1.46%

FOREIGN EXCHANGE RISK


MOP THOUSANDS Total net long and total net short positions in foreign currencies

Where the net position (in absolute terms) in a particular foreign currency constitutes not less than 10% of the total net position in all foreign currencies, disclose in respect of the particular currency its net long (or net short) position.

Currency

Net Open Position excluding option contracts

Long or Short

Net Position in Option contracts

Long or Short

Net Open Position including option contracts

Long or Short

1. Australian dollars 174 174 2. Canadian dollars 25 25 3. Chinese renminbi (540) (540) 4. Euro 1,492 1,492 5. Hong Kong dollars 13,405,452 13,405,452 6. Japanese yen 759 759 7. New Zealand dollars (57) (57) 8. Pound sterling (67) (67) 9. Singapore dollars 21 21 10. Swiss francs 10 10 11. US dollars 99,218 99,218 12. Foreign currencies not separately specified above, except gold

3,680

3,680 13. Macao patacas (13,510,167) 14. MOP/HKD/USD Position# (in absolute value)

13,504,670

15. Gold -

16. SUM OF NET LONG POSITIONS UNDER ITEMS 1-13 13,510,831

17. SUM OF NET SHORT POSITIONS UNDER ITEMS 1-13 (in absolute value) 13,510,831

Spot assets 13,466,707

Spot liabilities -

Forward purchases -

Forward sales (61,255)

Net options position -

Net long position 13,405,452

Hong Kong Dollar MOP Thousand equivalent

FOREIGN EXCHANGE RISK

LIQUIDITY RISK

LIQUIDITY RISK

QUANTITATIVE DISCLOSURE OF JUNE 30, 2017 MOP THOUSANDS

The arithmetic mean of the minimum weekly amount of cash in hand that is required to hold during the reporting period

661,091

The arithmetic mean of its weekly amount of cash in hand during the reporting period 7,025,253

The arithmetic mean of its specified liquid assets at the end of each month during the reporting period 52,959,045

The average ratio of specified liquid asset to total basic liabilities at the end of each month during the reporting period

186.48%

The arithmetic mean of its one-month liquidity ratio in the last week of each month during the reporting period

143.78%

The arithmetic mean of its three-month liquidity ratio in the last week of each month during the reporting period

292.43%

disclosure of financial information · balance sheet balance sheet as of june 30, 2017 liabilities...

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