Trade

Annual Report 2016
Binary Limited
The Premier Platform for Binary Options Trading
Contents
Overview
2016 Highlights 01
Our People 04
Our Team 06
Our Technology 07
Key Performance Indicators 08
Financial Review 09
Strategy and Sustainability

Business Conduct 11
Charity Programme 12
Financial Statements
Company Information 13
Directors’ Report 14
Statement of Directors’ Responsibilities 15
Statements of Comprehensive Income 16
Statements of Financial Position 17
Statements of Changes in Equity 18
Statements of Cash Flows 20
Notes to the Financial Statements 21
Independent Auditor’s Report 68
Investor Resources
Five-Year Summary 71
Dividend Policy & History 73
Global Offices 74
01 2016 Highlights | Annual Report 2016
OVERVIEW
2016 Highlights
2016 has been an incredibly busy year for us. In 2016, we not only celebrated our
17th year of operations, but also observed the achievement of some of our
strategic initiatives. We remain resolute in our pursuit of high ethical standards
and practices; and continue serving our clients with integrity and reliability.
Message to Shareholders
We continue to place regulatory compliance on the forefront
Overview
despite the ever-increasing regulatory burdens. New and more
extensive regulatory requirements are expected to be introduced
in the coming year with MiFID II scheduled to come into force in

January 2018. Our continued licence renewal with our regulators
is a testament to our unwavering commitment to integrity and
reliability.
We achieved a big architectural milestone where
front-end and back-end code is split into separate
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repositories. This architectural structure allows greater
flexibility in scaling and our developers can work
synchronously on both front-end and back-end
components of a feature whilst keeping the programming
process cohesive. Following this achievement, our
investment in user-facing development has produced
multiple proprietary trading platforms, such as Binary
Static, Binary Webtrader, Binary Next-Gen, Binary Bot, and
Binary Mobile, which are open-sourced. Developers who
are interested in building applications and trading
interfaces that interact with the Binary.com system can
do so via the Binary.com Application Program Interface
(API). We work hard to provide a high-performance API
around which third-party developers can build trading
platforms to suit their local communities.
OVERVIEW
2016 Highlights
After going through a lengthy licensing process, our investment in Japan has paid off with
the completion of the registration of our Japanese subsidiary by the Kanto Local Finance
Overview
Bureau and the award of a licence by the Financial Services Agency. Our office in Japan
houses six employees and we look forward to allowing residents of Japan access to the
Japanese version of Binary.com.

Investor Resources
In response to our clients’ trading needs, we launched the much anticipated MetaTrader 5
platform in Asia. We see great value in offering our clients a broader suite of products and
platforms and we hope to improve our connectivity with more sophisticated clients. The
take up rate has been encouraging and we continue to observe an upward trend.
OVERVIEW
2016 Highlights
Overview
Talent recruitment and retention remains a challenge in 2016 as we improve our ability to

recruit, onboard, and retain top talents amidst the global talent war. We expanded our
recruitment team, expanded our talent sourcing channels, developed attractive career
microsites, wrote creative job advertisements, and invested in two new office spaces in
Berlin, Germany and Kuala Lumpur, Malaysia, as part of our talent recruitment and retention
efforts.
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Finally, we took some time to reflect on our journey throughout the past 17 years and
decided to contribute to charity programmes for the under-privileged. Our charitable
initiative focuses on small charities and non-profits around the world that are making a
positive impact in their local communities. We strive to ensure that our donations have a
direct impact and are free from the burden of overheads seen in larger charities. We
currently support two charity programmes in Malta and Malaysia and we hope to
continue the practice of giving in other parts of the world.
04 Our People | Annual Report 2016
OVERVIEW
Our People
Overview
Jean-Yves Christian Sireau
CHIEF EXECUTIVE OFFICER, 46
Jean-Yves Sireau is the founder of the award-winning online A serial entrepreneur at heart, he founded his first company in
binary options trading platform, Binary.com. From 1997 to 1991, a software company called Excellence Informatique
1999, he worked extensively to develop the systems, S.A.R.L., where he developed financial software for the French
methods, and algorithms that would allow him to realise his brokerage community. His achievements at only 21 years old
vision of making binary options accessible to individual saw him awarded the prestigious Fondation Jacques Douce
investors worldwide. Before Binary.com was launched, binary prize for young entrepreneurs by the French prime minister at
options were typically traded in large quantities by large that time, Edith Cresson, and the Neuilly Professions prize for
Investor Resources
financial institutions and hedge fund firms. young entrepreneurs by a future French president, Nicolas
Sarkozy.
He was granted a patent for his binary options trading system
on 17 April 2007 in the United States. He was granted two He went on to become a money market dealer with Crédit
further patents in 2011 for systems and methods that enable Commercial de France (now HSBC) in Hong Kong from 1992
financial market speculation. to 1993. After that, he founded his own investment fund,
Fortitude Group Inc. in 1993, and two more companies –
The company that owns and operates his trading platform, Fortitude Securities (Hong Kong) Ltd and Fortitude Fund
Binary Limited was initially funded with a USD 2 million Management Ltd – to provide commodity trading advisory
investment by Regent Pacific Group Limited. Today, Binary services and state-of-the-art online trading systems.
Limited has subsidiaries in Malta, the Isle of Man, Costa Rica,
Seychelles, the British Virgin Islands, Vanuatu, Malaysia, and Jean-Yves Sireau studied mathematics and physics at two of
Japan. Its offices are located in Malta, Malaysia, Japan, and the most elite schools in France. He started writing computer
Germany. programs at 11 years old.
05 Our People | Annual Report 2016
OVERVIEW
Our People
Tom Molesworth Rakshit Choudhary

CHIEF TECHNOLOGY OFFICER, 38 HEAD OF QUANTITATIVE RESEARCH & DEVELOPMENT, 33
Tom joined in August 2016 and oversees all technical Rakshit is responsible for the Group's product
aspects of the Binary group. He leads the back-end research and development. He has in-depth
development and DevOps engineering team of 10 knowledge about the algorithm that functions behind
people. Tom is an active contributor to the the trading platform, having jointly designed and
Comprehensive Perl Archive Network (CPAN). Prior developed the algorithm with Jean-Yves Sireau. Prior
to joining the Group, he worked at Trend Micro on a to entering the quantitative finance world, he was an
petabyte-scale storage system and security tools. engineer, designing power plants for Siemens Ltd. He
With over 20 years of experience in the software and holds an M.S. in Quantitative and Computational
Overview
IT industry, he contributes extensive experience in Finance from Georgia Institute of Technology,
designing and maintaining large-scale IT platforms. Atlanta and a B.E. (Mechanical Engineering) from
Delhi College of Engineering, India.

Joanna Frendo Louise Wolf
COMPLIANCE DIRECTOR, 44 FINANCIAL CONTROLLER, 44
Joanna oversees the Group’s procedural and Louise oversees the accounting department and
regulatory compliance with various gambling and manages all financial, liquidity and capital aspects of
financial licensing jurisdictions, in addition to the Group, including taxation. Louise is an
overseeing a number of the Group's key operational accountant with more than 17 years of operational
areas such as payments and client account experience in both financial and commercial markets
management. Joanna is ultimately responsible for in the binary options industry. After spending four
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the licensing regimes for the subsidiaries, as well as years in external audit with Immelman Ferriera Inc in
the development of internal policies, systems, and Cape Town and Ernst & Young in Namibia, she joined
procedures throughout the Group. Joanna also holds the Group in 2000. Louise has a B. Compt. in
a personal management licence, as Head of Accounting and Auditing.
Compliance with the UK Gambling Commission for
both Binary (Europe) Limited and Binary (IOM)
Limited. Joanna is the nominated officer for
Anti-Money Laundering (AML) for a number of
subsidiaries of the Group. Joanna has been a
member of the Malta Institute of Management since
1999, holds a diploma in Financial Services
Operations and Compliance and has recently
completed a Professional Post Graduate Diploma in
Financial Crime Compliance and is a Fellow member
of the International Compliance Association.
06 Our Team | Annual Report 2016
OVERVIEW
Our Team
Binary Group’s employees are its strongest asset in its mission to
maintain and strengthen competitive advantage in the binary
Overview
options industry. Our people are organised in a number of teams,
each focused on a core area of our work.

The Binary Group is one of the world’s most progressive Our people need to possess certain attributes, regardless
companies, with more than 127 employees, independent of department. We value people who love to:
contractors and commuters combined, spread across
multiple cities in Asia and Europe. Our people are the
Give their best every day.
heart of our business. Their experience, drive, talent, and
commitment have a significant impact on defining who
Team up with talented people to make an impact.
we are. Equally as important are the moral standards
that they possess.
Get things done in a no-nonsense manner.
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Teamwork is very important at Binary. We always work
Work without bureaucracy and hierarchy.
together to achieve great things. We’re convinced that
our team-centric approach to solving problems and
Have the latest technologies at their disposal.
meeting challenges makes us a better organisation.
Learn and improve, day in and day out.

Our organisational structure is flat, simple, and lean, with
accessible team leaders. It has been instrumental in
building an adaptive, innovation-friendly company, and
empowering our people to take charge, help make
decisions, and feel responsible for our achievements.
We care for the health and well-being of our colleagues,

and believe that work should be challenging and
enjoyable.
07 Our Technology | Annual Report 2016
OVERVIEW
Our Technology
Being a technology-driven company, we strive to keep our website, Binary.com, at the cutting edge. We apply consistent coding
standards, we pay very close attention to code quality, and we constantly re-factor our code. We also make sure that our code and
systems are highly optimised and scalable to support our clients’ transaction volume. Our code is consistently peer-reviewed by
senior developers, using the Git forking model, to ensure code quality.
We pay careful attention to security, with periodic checks by multiple providers, with testing at least once per week, careful review
and static analysis of our codebase, and a culture of security that permeates the Group.
Some of our IT initiatives during the year :
IT Initiatives Description Strategic Objectives
1 Implementation of blue-green Implementation of two production Reduction of frictions and delays that
deployment environments that are as identical as crop up in between live deployment and
possible and are easily switchable, i.e., final stage of testing.
Overview
green for virtual account traffic and blue Reduction of website downtime by
for real account traffic. providing a rapid way to roll back during
deployment.
Improvement in website stability.

2 Implementation of a decoupled Decoupling of pricing engines from Streamlined and faster deployment.
architecture overall codebase into stand-alone Reduction of idle time and repeated
modules for a more organised codebase. integration.
Introduction of proper test suites
contributed by the improvement of the
testability of stand-alone modules.
3 Development of pricing Development of a program that runs Reduction of the number of Remote
daemons continuously and exists to handle Procedure Call (RPC) servers, and have
periodic service requests related to most of our system load onto
pricing. auto-scaling pricing servers which leads
Design and development of a program to decreased IT server costs.
that helps to reduce the number of Increased efficiency and reduction of IT
pricing computation instances through server costs.
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collision of pricing instances.
4 Implementation of AWS Auto Auto Scaling assists in detection of Reduction of IT server costs.
Scaling impaired and unhealthy instances, and
replaces these instances without human
intervention. This helps maintain
application availability.
Automatic scaling of instances per
pre-defined conditions and demand
curve of applications.
Downtime PLATFORM UPTIME

FY 2016 0.04%
The Binary.com platform is built on top of cutting-edge technology. Its
availability to clients is something that we take very seriously. We are proud to
announce a platform uptime of 99.96% in 2016. We will continue to improve our
Uptime
99.96% platform uptime and provide our clients with a stable trading environment.
08 Key Performance Indicators | Annual Report 2016
OVERVIEW
Key Performance Indicators
REVENUE (In USD ’m) GROSS PROFIT (In USD ’m)

11% UP 32% UP
900
25
847.59
22.31
20
762.55
700
16.92
15
Overview
2015 2016 2015 2016

COMPREHENSIVE INCOME (In USD ’m) RETURN ON EQUITY (%)
32% UP 24% UP
14 150
13.77
147
12
119
10.45
10
100
2015 2016 2015 2016
Investor Resources
NEW CLIENT COUNT ACTIVE CLIENT COUNT
1% DOWN 8% UP
53,000
80,000
52,422
52,000
76,173
51,888
51,000 70,000
70,303
2015 2016 2015 2016

09 Financial Review | Annual Report 2016
OVERVIEW
Financial Review
Financial Performance
The Group recorded a revenue of USD 847.6 million in 2016, which translates to an increase of 11% from 2015
(2015: USD 762.55 million). Q1 2016 was a record for the Group with revenue of USD 246.8 million generated.
After a slowdown in Q2 and Q3, the Group’s revenue picked up again in Q4 2016 to deliver USD 202.97 million.
Overall, there is a steady stream of revenue generated throughout the twelve months of the financial year
2016.
Gross profit was ahead of 2015 by 32% at USD 22.31 million (2015: 16.92 million). The Group observed an
improvement in gross profit margin, 2.63% in 2016, against gross profit margin of 2.22% in 2015. This is
consistent with the Group’s initiative to improve its gross profit margin after experiencing a dip in gross profit
Overview
margin from 2014 to 2015.
Operating expenses increased by 29% from USD 6.7 million to USD 8.6 million, increasing slightly lesser than
gross profit. The two largest components of operating expenses, employee benefit expense and advertising

& promotion expense, contributed to the increase. The increase in employee benefit expenses was primarily
due to the higher number of persons employed during 2016, i.e., 85 employees in 2016 versus 48 employees
in 2015. The increase in number of persons employed is consistent with the Group’s growth trend which
requires additional human resource capacity to fulfil the growth in business demands. Advertising and
promotion expense mainly consists of commissions paid to independent third party non-affiliated agents.
The ratio of advertising and promotion expense to revenue was 0.23% in 2016 (2015: 0.21%). Overall, the
increase in operating expenses is in line with expectation.
The Group’s comprehensive income increased by 32% from USD 10.45 million to USD 13.77 million.
For the 11th consecutive year, dividend distribution is declared and paid. The full year dividend of USD
11,984,673 (2015: USD 13,926,735) at USD 0.57 per share (2015: USD 0.65) translates to a dividend payout
ratio of 86% (2015: 133%).
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Financial Position
The Group’s statements of financial position remained healthy in 2016 with nil debt and positive retained
earnings. Financial results of 2016 further strengthens the Group’s overall strong financial position
accumulated since inception.
The Group’s statements of financial position total increased by USD 966,834 (4.56%) to stand at USD
22,156,907 at 31 December 2016 (2015: USD 21,190,073).
On the assets side of the statements of financial position, the increase in non-current assets related primarily
to intangible assets (increased by 22%) and deferred tax assets (increased by 20%). At the same time, plant
and equipment decreased by 3%. Within current assets, increases were registered for receivables (4%) and
cash and cash equivalents (3%).
Equity increased by USD 636,665 (7%) from USD 8,784,994 to USD 9,421,659 whereas liabilities increased by
USD 330,169 (3%) from USD 12,405,079 to USD 12,735,248 over the twelve-month period. The main increase
on the equity and liabilities side of the statements of financial position in percentage terms related to retained
earnings - 36% increase from USD 5,223,550 to USD 7,098,238. The USD 330,169 increase in liabilities
(current) was mainly attributable to an increase in tax payable.
10 Financial Review | Annual Report 2016
OVERVIEW
Financial Review
Cash Flow Position

Binary Limited Group remains highly cash generative and highly liquid with a strong cash and cash
equivalents balance of USD 18,584,111 (2015: USD 18,069,271).
Cash flows from operating activities are determined indirectly, starting with the Group’s profit before tax.
Cash flows from investing and financing activities are based on actual payments and receipts. The net cash
generated from operating activities increased by USD 5,316,636 (48%) from USD 10,994,343 to USD
16,310,979. This improvement is mainly due to the higher profit before tax recorded in 2016.
The net cash used in investing activities amounted to USD 1,328,570 (2015: USD 1,379,072). This includes
USD 1,224,667 (2015: USD 1,202,575) in relation to purchase of intangible assets in 2016, which mainly
Overview
included the salaries paid for the further development of the trading platform and the payments made during
the year to acquire the MT5 licence.
Outflow in financing activities comprised of dividend payment of USD 13,002,956 (2015: USD 6,427,724) and

payments made to acquire own shares of USD 1,150,000 (2015: nil).
Overall, the results of Binary Limited Group's financial performance, financial position, and cash flow position
continued to develop positively during the financial year under report.
The Premier Platform
for Binary Options Trading
FOREX
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INDICES
STOCKS
COMMODITIES
VOLATILITY INDICES
11 Business Conduct | Annual Report 2016
STRATEGY AND SUSTAINABILITY
Business Conduct
At Binary Limited, business integrity is more than a compliance or risk
management topic. Our conduct as a business is driven by our core values that
include integrity, tolerance, diversity, and equal opportunity. These values are
actively embedded in our company culture.
Key Focus Areas
Overview
Day-to-day payments and transaction IT and cyber security
processing Use of trusted, secure, and reliable third-party tools from
Continuous implementation of proper policies, procedures, password storage with multifactor authentication to

and processes to govern the functions performed. managing employee permissions.
Regular and on-going scrutiny, restrictions, and adherence Regular and on-going update of operating systems and
to relevant jurisdictions’ laws and regulations. applications.
Adoption and embedment of a risk-based approach and Regular and on-going update and maintenance of security
identification of high-risk clients. patches.
Regular and on-going user education on the importance of
Recruitment and training of qualified and trained customer
service agents who are educated on the importance of IT and cyber security, what not to do, and how to go about
understanding the context in which a transaction takes protecting themselves and the network.
place.
Regular and on-going risk assessment on AML vulnerability Regulatory compliance

areas. Maintenance of a robust compliance programme/regime
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comprised of legislation monitoring, compliance awareness
Capital adequacy and liquidity training, policy and procedure development and
Regular and on-going review of the capital and liquidity implementation, and an open communication/reporting
position of the group. environment.
On-going compliance with regulatory capital resources On-going monitoring and keeping abreast of changes in
requirements. regulatory environment, act amendments, circulars,

regulatory Q&As, peer review reports, etc.
Regular and on-going monitoring of capital ratios.
Establishment and maintenance of an independent
evaluation of the compliance programme which includes
Internal audit
review of legal and regulatory requirements, and on-going
Regular AML risk assessment review and evaluation.
monitoring of compliance staff’s performance.
Regular review of the adequacy of the Group’s procedures,
On-going appointment of Money Laundering Reporting
processes, systems, and controls of high-risk areas which
Officer(s).
includes IT and cyber security, accounts and payments,
client money, and regulatory compliance.
12 Charity Programme | Annual Report 2016
STRATEGY AND SUSTAINABILITY
Charity Programme
Binary Group’s charitable initiative focuses on small charities and nonprofits
around the world that are making a positive difference in their local
communities. Our donations have a direct impact, free from the burden of
overheads seen in larger charities.
Making a Positive Impact in
Local Communities
Overview
Eurobasket Wolves
The Eurobasket Wolves is a basketball club founded in 2002 in Malta. It
teaches youth basketball through its club and school programmes. Its
U8’s and U10’s boys and girls teams, plus its U14’s and U16’s girls
teams compete nationally. It is the first basketball club in Malta to
establish an after-school basketball training programme where the
training sessions are conducted on school grounds.
Shelter Home’s Shelter Community Learning Centre 3

The Shelter Community Learning Centre 3 is a community school
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based in Malaysia for Myanmar refugee children who are awaiting
repatriation with their families to a third country. The school aims to
provide these children –– who are at their most vulnerable age –– with
an education which will prepare them for the future.
Languages Classes for Refugees (LCFR)

LCFR is an educational programme for refugees in Malaysia. This
programme teaches English, Malay, and French to children and adults
in order to provide them with language skills that will help them to find
employment while they are waiting to be repatriated.
13 Company Information | Annual Report 2016
FINANCIAL STATEMENTS
Company Information
COMPANY NAME Binary Limited
Overview
Jean-Yves Christian Sireau
BOARD OF DIRECTORS

Joanna Frendo
James Mellon (resigned on 3 March 2017)
INCORPORATED Jersey
INCORPORATION DATE 15 October 1999
REGISTRATION NUMBER 108101
47 Esplanade, St. Helier, Jersey,

REGISTERED OFFICE
JE1 0BD, Channel Islands
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COMPANY SECRETARY Crestbridge Corporate Services Ltd
Crestbridge Corporate Services Ltd

REGISTERED AGENT
47 Esplanade, St. Helier, Jersey, JE1 0BD, Channel Islands
USD 200,000,000
AUTHORISED SHARE CAPITAL
200,000,000,000 shares of USD 0.001 each
14 Directors’ Report | Annual Report 2016
Directors’ Report
The directors present this report together with the audited financial statements of Binary Limited and the consolidated
financial statements of the group, of which Binary Limited is the parent, for the year ended 31 December 2016.
Principal activities
Binary Limited is a holding company whose subsidiaries provide online trading services for binary options, Forex,
and CFDs.
Review of the business

During the year under review the group registered a profit before taxation amounting to USD 14,317,200 (2015:
USD 10,613,534) and dividends amounting to USD 11,984,673 (2015: USD 13,926,735). After deducting taxation
Overview
thereon, the profit for the year amounted to USD 13,856,851 (2015: USD 10,454,501).
Dividend and reserves

In respect of the current year, the directors declared and approved a dividend of 38 cents (2015: 35 cents) per
share to be paid to the shareholders, of which USD 1,509,054 was paid during the year. In addition, an interim
dividend of 19 cents (2015: 30 cents) per share was declared, approved and paid during the year. The movement in
reserves is set out on pages 18 and 19 to the consolidated financial statements.
Board of directors
The following have served as directors of the company during the year under review:
• Jean-Yves Christian Sireau
• Joanna Frendo
• James Mellon (resigned 3 March 2017)
In accordance with the company’s Articles of Association, the present directors remain in office until such time as
Investor Resources
they resign or are otherwise removed. The affairs of the company shall be managed by at least two directors.
Auditor
Grant Thornton have expressed their willingness to continue in office and a resolution proposing their
reappointment will be put before the members at the next annual general meeting.
Approved by the Board of Directors on 31 May 2017 and signed on its behalf by:
Jean-Yves Christian Sireau Joanna Frendo

Director Director
15 Statement of Directors’ Responsibilities | Annual Report 2016
Statement of Directors’ Responsibilities

DISCLOSURE OF INFORMATION TO THE AUDITOR
At the date of making this report, the directors confirm the following:
• As far as each director is aware, there is no relevant information needed by the independent auditor in connection with preparing
the audit report of which the independent auditor is unaware, and
• Each director has taken all steps that he/she ought to have taken as a director in order to make himself/herself aware of any
relevant information needed by the independent auditor in connection with preparing the audit report and to establish that the
independent auditor is aware of that information.
The Companies (Jersey) Law 1991 requires the directors to prepare financial statements of the company and consolidated financial
Overview
statements of its group for each financial year which give a true and fair view of their state of affairs as at the end of the financial
year and of the results of their operations for that year. In preparing these financial statements, the directors are required to:
• Adopt the going concern basis unless it is inappropriate to presume that the company and the group will continue in business

• Select suitable accounting policies and apply them consistently
• Make judgments and estimates that are reasonable and prudent
• Account for income and charges relating to the accounting period on the accruals basis
• Value separately the components of asset and liability items; and
• Report comparative figures corresponding to those of the preceding accounting period
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the
financial position of the company and the group and to enable them to ensure that the financial statements have been properly
prepared in accordance with the Companies (Jersey) Law 1991. This responsibility includes designing, implementing and
maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error. They are also responsible for safeguarding the assets of the company and the group
and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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16 Statements of Comprehensive Income | Annual Report 2016
Statements of Comprehensive Income

STATEMENTS OF COMPREHENSIVE INCOME For the year ended 31 December 2016
GROUP COMPANY
2016 2015 2016 2015
NOTES USD USD USD USD
Revenues 5 847,593,746 762,552,025 - -

Direct expenses (825,304,941) (745,650,053) - -
Net gains (losses) attributable to fair value changes 23 (28,434) 13,320 - -
MT5 Profits 52,501 - - -
Overview
Gross profit 22,312,872 16,915,292 - -
Other net operating income 7 591,337 318,073 401,317 135,280
Selling and distribution costs (1,914,909) (1,565,507) (45) (804,109)
Administrative and other operating expenses (6,805,848) (5,010,642) (7,016,405) (4,738,496)

Finance income 8 12,079 17,990 20,663,484 15,995,571
Other financial items 8 (15,584) (222,623) 15,746 (163,344)
Net gains on margin trading 8 137,253 160,951 137,253 160,951
Investment write-off - - - (159)
Profit before tax 9 14,317,200 10,613,534 14,201,350 10,585,694
Tax expense 10 (460,349) (159,033) - -
Profit for the year 13,856,851 10,454,501 14,201,350 10,585,694
Other comprehensive loss

Items that will be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations (85,514) (826) - -
Investor Resources
Other comprehensive loss for the year (85,514) (826) - -
Total comprehensive income for the year 13,771,337 10,453,675 14,201,350 10,585,694
Attributable to:
Owners of the parent company 13,859,361 10,454,501 14,201,350 10,585,694
Non-controlling interest (2,510) - - -
13,856,851 10,454,501 14,201,350 10,585,694
Total comprehensive income attributable to:

Owners of the parent company 13,773,847 10,453,675 14,201,350 10,585,694
Non-controlling interest (2,510) - - -
13,771,337 10,453,675 14,201,350 10,585,694
Earnings per share

basic for the year 11 65.37 cents 48.79 cents 66.98 cents 49.41 cents
17 Statements of Financial Position | Annual Report 2016
Statements of Financial Position

STATEMENTS OF FINANCIAL POSITION As at 31 December 2016
GROUP COMPANY
2016 2015 2016 2015
ASSETS
Non-current assets
Intangible assets 12 2,352,747 1,924,690 2,349,047 1,920,100
Plant and equipment 13 273,654 282,242 - 239
Equity investments 15 - - 2,888,081 1,227,697
Receivables 16 - - 1,700,000 1,700,000
Overview
Deferred tax asset 17 10,907 9,095 - -
2,637,308 2,216,027 6,937,128 4,848,036
Current assets

Financial assets at FVTPL 18 - 8,362 - 8,362
Consumables 1,344 - - -
Receivables 16 934,144 896,413 4,920,721 3,044,230
Cash and cash equivalents 19 18,584,111 18,069,271 10,222,927 11,841,878
19,519,599 18,974,046 15,143,648 14,894,470
TOTAL ASSETS 22,156,907 21,190,073 22,080,776 19,742,506

EQUITY AND LIABILITIES
Equity
Share capital 20 21,026 21,426 21,026 21,426
Share premium 21 2,348,785 3,498,385 2,348,785 3,498,385
Exchange translation reserve 21 (44,829) 40,685 - -
Other reserve 21 948 948 - -
Retained earnings 22 7,098,238 5,223,550 7,728,223 5,511,546
Investor Resources
Attributable to owners of the parent 9,424,168 8,784,994 10,098,034 9,031,357
Non-controlling interest 22 (2,509) - - -
Total equity 9,421,659 8,784,994 10,098,034 9,031,357
Liabilities
Current
Financial liabilities at FVTPL 18 9,484 - 9,484 -
Derivative financial instruments 23 58,764 60,491 - -
Trade and other payables 24 12,043,526 12,180,866 11,973,258 10,711,149
Tax payable 623,474 163,722 - -
Total liabilities 12,735,248 12,405,079 11,982,742 10,711,149
TOTAL EQUITY AND LIABILITIES 22,156,907 21,190,073 22,080,776 19,742,506
The financial statements on pages 16 to 67 were approved by the board of directors, authorised for issue on 31 May 2017 and
signed on its behalf by:
Jean-Yves Christian Sireau Joanna Frendo

Director Director
18 Statements of Changes in Equity | Annual Report 2016
Statements of Changes in Equity

STATEMENTS OF CHANGES IN EQUITY For the year ended 31 December 2016
Exchange Attributable Non-

Share Share Own Translation Other Retained to holders controlling Total
Capital Premium Shares Reserve Reserve Earnings of parent interest Equity
GROUP USD USD USD USD USD USD USD USD USD
At 1 January 2015 21,426 3,475,459 - 41,511 22,926 8,696,732 12,258,054 - 12,258,054
Changes in equity for 2015
Transfers - 22,926 - - (21,978) (948) - - -

Dividends - - - - - (13,926,735) (13,926,735) - (13,926,735)
Transactions with owners - 22,926 - - (21,978) (13,927,683) (13,926,735) - (13,926,735)

Profit for the year - - - - - 10,454,501 10,454,501 - 10,454,501
Overview
Other comprehensive loss for the year - - - (826) - - (826) - (826)
Total comprehensive income for the year - - - (826) - 10,454,501 10,453,675 - 10,453,675
At 31 December 2015 21,426 3,498,385 - 40,685 948 5,223,550 8,784,994 - 8,784,994

At 1 January 2016 21,426 3,498,385 - 40,685 948 5,223,550 8,784,994 - 8,784,994
Issue of shares - - - - - - - 1 1
Own shares - - (1,150,000) - - - (1,150,000) - (1,150,000)
Cancellation of own shares (400) (1,149,600) 1,150,000 - - - - - -
Dividends - - - - - (11,984,673) (11,984,673) - (11,984,673)
Transactions with owners (400) (1,149,600) - - - (11,984,673) (13,134,673) 1 (13,134,672)
Profit for the year - - - - - 13,859,361 13,859,361 (2,510) 13,856,851
Other comprehensive loss for the year - - - (85,514) - - (85,514) - (85,514)
Total comprehensive income for the year - - - (85,514) - 13,859,361 13,773,847 (2,510) 13,771,337
At 31 December 2016 21,026 2,348,785 - (44,829) 948 7,098,238 9,424,168 (2,509) 9,421,659
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19 Statements of Changes in Equity | Annual Report 2016
Statements of Changes in Equity

STATEMENTS OF CHANGES IN EQUITY For the year ended 31 December 2016
Share Share Own Other Retained Total

Capital Premium Shares Reserve Earnings Equity
COMPANY USD USD USD USD USD USD
At 1 January 2015 21,426 3,475,459 - 22,926 8,852,587 12,372,398
Transfers - 22,926 - (22,926) - -
Dividends - - - - (13,926,735) (13,926,735)
Transactions with owners - 22,926 - (22,926) (13,926,735) (13,926,735)
Profit for the year - - - - 10,585,694 10,585,694
Overview
Total comprehensive income for the year - - - - 10,585,694 10,585,694
At 31 December 2015 21,426 3,498,385 - - 5,511,546 9,031,357
At 1 January 2016 21,426 3,498,385 - - 5,511,546 9,031,357

Own shares - - (1,150,000) - - (1,150,000)
Cancellation of own shares (400) (1,149,600) 1,150,000 - - -
Dividends - - - - (11,984,673) (11,984,673)
Transactions with owners (400) (1,149,600) - - (11,984,673) (13,134,673)
Profit for the year - - - - 14,201,350 14,201,350

Total comprehensive income for the year - - - - 14,201,350 14,201,350
At 31 December 2016 21,026 2,348,785 - - 7,728,223 10,098,034
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20 Statements of Cash Flows | Annual Report 2016
Statements of Cash Flows

STATEMENTS OF CASH FLOWS As at 31 December 2016
GROUP COMPANY
2016 2015 2016 2015
Operating activities
Profit before tax 14,317,200 10,613,534 14,201,350 10,585,694
Adjustments for:
Depreciation of plant and equipment 13 107,807 88,533 239 12,260
Amortisation of intangible assets 12 833,360 487,580 832,470 486,489
Loss (gain) on disposal of plant and equipment 13 1,542 3,101 - (7)
Write off of investment 15 - - - 159
Overview
Change in fair value of financial liabilities at FVTPL 1,271 (56,644) - -
Unrealised loss on exchange 71,114 227,135 49,760 164,162
Net movement in margin trading 8 17,846 5,165 17,846 5,165
Income tax refund receivable 7 (401,137) (136,316) (401,137) (136,316)

Interest income 8 (12,079) (17,990) (4,594) (8,190)
Dividend income 8 - - (20,658,890) (15,987,381)
Tax refund received 331,204 - 331,204 -
Tax paid (2,409) (390,352) - -
Operating cash flows before changes

in working capital 15,265,719 10,823,746 (5,631,752) (4,877,965)
Decrease (increase) in receivables 29,828 (223,870) 16,565,163 187,574
Increase in consumables (1,344) - - -
Increase (decrease) in payables 1,016,776 394,467 3,053,644 15,543,658
Net cash generated from operating activities 16,310,979 10,994,343 13,987,055 10,853,267
Investing activities
Purchase of plant and equipment 13 (104,523) (234,893) - -
Purchase of intangible assets 12 (1,224,667) (1,202,575) (1,224,667) (1,198,875)
Investor Resources
Proceeds received from disposal of plant and equipment 13 4,108 7,523 - -
Interest received 12,079 17,990 4,594 8,190
Payments made to acquire investments in subsidiaries - - (167,662) (1,080,850)
Repayments of loan receivable from parent company - 20,007 - 20,007
Repayments of (advances made to) director 1,165 (36) 1,165 (36)
(Advances made to) repayments of a related party (16,732) 12,912 (16,733) 12,912
Net cash used in investing activities (1,328,570) (1,379,072) (1,403,303) (2,238,652)
Financing activities
Dividends paid (13,002,956) (6,427,724) (13,002,956) (6,427,724)
Payments made to aquire own shares (1,150,000) - (1,150,000) -
Cash used in financing activities (14,152,956) (6,427,724) (14,152,956) (6,427,724)
Net change in cash and cash equivalents 829,453 3,187,547 (1,569,204) 2,186,891
Cash and cash equivalents, beginning of year 18,069,271 15,325,844 11,841,878 9,823,171
Cash and cash equivalents before the effect of

exchange differences 18,898,724 18,513,391 10,272,674 12,010,062
Exchange differences on cash and cash equivalents (314,613) (444,120) (49,747) (168,184)
CASH AND CASH EQUIVALENTS, END OF YEAR 19 18,584,111 18,069,271 10,222,927 11,841,878
21 Notes to the Financial Statements | Annual Report 2016
Notes to the Financial Statements

For the year ended 31 December 2016
1. Nature of Operations
Binary Limited (“the Company”) and its subsidiaries (“the Group”) provide online trading services for binary options (both on
financial markets and virtual events), Forex, and CFDs to retail clients around the world.
2. General Information and Statement of Compliance with IFRS
Binary Limited is a private limited liability company and was incorporated in the Bahamas on 15 October 1999 and redomiciled to
Jersey on 6 May 2011. The address of the company's registered office is 47 Esplanade, St Helier, Jersey JE1 0BD, Channel Islands.
Overview
The company is 75.06% owned by JYS (BVI) Ltd with its registered office situated at Mill Mall Tower, 2nd Floor, Wickhams Cay 1, P.O.
Box 4406, Road Town, Tortola, British Virgin Islands. The ultimate controlling party of the group is Jean-Yves Christian Sireau.

The financial statements of the company and the consolidated financial statements of the group have been prepared in accordance
with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and in
accordance with the Companies (Jersey) Law, 1991.
3. Changes in Accounting Policies
3.1 New and revised standards that are effective for annual periods beginning on or after 1 January 2016
A number of new and revised standards are effective for annual periods beginning on or after 1 January 2016. Information
on these new standards is presented below.
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Amendments to IFRS that became mandatorily effective in 2016 have no material impact on the company’s and group’s
financial statements. Accordingly, the company and group have made no changes to their accounting policies in 2016.

3.2 Standards, amendments and interpretations to existing standards that are not yet effective and have not
been adopted early by the group and the company
At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to
existing standards have been published by the IASB but are not yet effective, and have not been adopted early by the group
and company.
Management anticipates that all of the relevant pronouncements will be adopted in the group’s and company’s accounting
policies for the first period beginning after the effective date of the pronouncement.
Information on new standards, amendments and interpretations that are expected to be relevant to the group’s and
company’s financial statements is provided below. Certain other new standards and interpretations have been issued but
are not expected to have a material impact on the group’s and company’s financial statements.
Overview
IFRS 9 ‘FINANCIAL INSTRUMENTS’

The new standard for financial instruments (IFRS 9) introduces extensive changes to IAS 39’s guidance on the
classification and measurement of financial assets and introduces a new ‘expected credit loss’ model for the impairment
of financial assets. IFRS 9 also provides new guidance on the application of hedge accounting.
Management has started to assess the impact of IFRS 9 but is not yet in a position to provide quantified information. At
this stage the main areas of expected impact are as follows:
• The classification and measurement of the group’s and company’s financial assets will need to be reviewed based on
the new criteria that considers the assets’ contractual cash flows and the business model in which they are managed;
• An expected credit loss-based impairment will need to be recognised on the group’s and company’s receivables in
accordance with the new criteria; and
• It will no longer measure equity investment at cost less impairment and such investment will instead be measured
at fair value. Changes in fair value will be presented in profit or loss unless the company and the group make an
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irrevocable designation to present them in other comprehensive income. This will affect the company’s and group’s
investment in Genseq Limited (see note 15.3) if still held on 1 January 2018.
IFRS 9 is effective for annual reporting periods beginning on or after 1 January 2018.
IFRS 15 ‘REVENUE FROM CONTRACTS WITH CUSTOMERS’
IFRS 15 presents new requirements for the recognition of revenue, replacing IAS 18 ‘Revenue’, IAS 11 ‘Construction
Contracts’, and several revenue-related Interpretations. The new standard establishes a control based revenue
recognition model and provides additional guidance in many areas not covered in detail under existing IFRSs, including
how to account for arrangements with multiple performance obligations, variable pricing, customer refund rights, supplier
repurchase options, and other common complexities.
IFRS 15 is effective for annual reporting periods beginning on or after 1 January 2018. Management has started to assess
the impact of IFRS 15 but is not yet in a position to provide quantified information.

IFRS 16 ‘LEASES’
IFRS 16 will replace IAS 17 and three related Interpretations. It completes the IASB’s long-running project to overhaul
lease accounting. Leases will be recorded on the statement of financial position in the form of a right-of-use asset and a
lease liability.
IFRS 16 is effective from periods beginning on or after 1 January 2019. Management is yet to fully assess the impact of
the standard and therefore is unable to provide quantified information. However, in order to determine the impact the
company is in the process of:
• Performing a full review of all agreements to assess whether any additional contracts will now become a lease under
IFRS 16’s new definition;
Overview
• Assessing their current disclosures for operating leases as these are likely to form the basis of the amounts to be
capitalised and become right-of-use assets;
• Determining which optional accounting simplifications apply to their lease portfolio and if they are going to use these
exemptions; and

• Assessing the additional disclosures that will be required.
DISCLOSURE INITIATIVE (AMENDMENTS TO IAS 7)
In January 2015, the IASB published narrow scope amendments to IAS 7 ‘Statement of Cash Flows’, entitled ‘Disclosure
Initiative (Amendments to IAS 7)’. The amendments respond to requests from investors for improved disclosures about
an entity’s financing activities. As their name suggests, the amendments form another part of the IASB’s Disclosure
Initiative.
The amendments:
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• Require an entity to provide disclosures that enable users to evaluate changes in liabilities arising from financing
activities. An entity applies its judgement when determining the exact form and content of the disclosures needed to
satisfy this requirement.
• Suggest a number of specific disclosures that maybe necessary in order to satisfy the above requirement, including:
– Changes in liabilities arising from financing activities caused by changes in financing cash flows, foreign exchange
rates or fair values, or obtaining or losing control of subsidiaries or other businesses.
– a reconciliation of the opening and closing balances of liabilities arising from financing activities in the statement of
financial position including those changes identified immediately above.
Amendments to IAS 7 is effective for annual reporting periods beginning on or after 1 January 2017. Management have
yet to assess the impact that these amendments are likely to have on the financial statements of the group and company.

4. Summary of Accounting Policies
4.1 Overall Considerations

The financial statements have been prepared using the significant accounting policies and measurement bases
summarised below.
The accounting policies have been consistently applied by group entities and are consistent with those used in the previous
years.
The financial statements are presented in accordance with IAS 1 Presentation of financial statements (Revised 2007). The
group and the company have elected to present the ‘statement of comprehensive income’ as a single statement with profit
or loss and other comprehensive income presented in two sections.
Overview
4.2 Basis of Consolidation

The consolidated financial statements consolidate those of the parent and all of its subsidiaries as of 31 December 2016.
All subsidiaries have a reporting date of 31 December.
The parent controls a subsidiary if it is exposed, or has rights, to variable returns from its involvement with the subsidiary
and has the ability to affect those returns through its power over the subsidiary. With the exception of Champion Group
Limited (disclosed in note 15.2), Binary Limited obtains and exercises control through voting rights.
All transactions and balances between group companies are eliminated on consolidation, including unrealised gains and
losses on transactions between group companies. Where unrealised losses on intra-group asset sales are reversed on
consolidation, the underlying asset is also tested for impairment losses from the group perspective. Amounts reported in
the financial statements of subsidiaries have been adjusted where necessary to ensure consistency with the accounting
policies adopted by the group.
Profit or loss and other comprehensive income of subsidiaries acquired or disposed of during the year are recognised from
the effective date of acquisition, or up to the effective date of disposal, as applicable.
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Non-controlling interests, presented as part of equity, represent the portion of a subsidiary's profit or loss and net assets
that is not held by the group. The group attributes profit or loss of subsidiaries between the owners of the parent and the
non-controlling interests based on their respective ownership interests.
The consolidated financial statements have been prepared from the financial statements of the companies comprising the
group as reported on note 15 of these financial statements.

The group includes a subsidiary, Champion Group Limited, with a material non-controlling interest (NCI):
Proportion of ownership
interest and voting Loss allocated Accumulated
rights held by NCI to NCI to NCI
2016 2015 2016 2015 2016 2015
Name of Subsidiary % % USD USD USD USD
Champion Group Ltd 50 - (2,509) - (2,510) -
Overview
Summarised financial information for Champion Group Ltd, before intragroup eliminations, is set out below:
2016 2015
USD USD

Current assets 1 -
Total assets 1 -
Total liabilities 5,019 -
Deficit attributable to owners of the parent (2,509) -
Non-controlling interests (2,509) -
Loss for the year (5,020) -
Cash used in operating activities (5,020) -

Cash generated from financing activities 5,020 -
Net cash flow - -
Investor Resources
In the company’s separate financial statements, investments in subsidiaries are accounted for by the cost method of
accounting, i.e., at cost less impairment. Provisions are recorded where, in the opinion of the directors, there is an
impairment in value. Where there has been an impairment in the value of an investment, it is recognised as an expense in
the period in which the diminution is identified. The results of subsidiaries are reflected in the company’s separate financial
statements only to the extent of dividends receivable. On disposal of an investment, the difference between the net disposal
proceeds and the carrying amount is charged or credited to profit or loss.

4.3 Revenue
Revenue arises from rendering of services. It is measured by reference to the fair value of consideration received or
receivable, excluding sales taxes, rebates, and trade discounts.
Trading Revenue
Trading revenue is the fair value of trades placed in the year. Revenue is recognised on positions that have closed. Revenue
for trades placed but remains open at year end are deferred and are subsequently recognised as revenue in the period when
the positions have closed. Open contracts/positions at year end is adjusted for any potential income or loss and are
measured at fair value and are presented as ‘derivative financial instruments’ (see note 4.14 for further information in initial
recognition and subsequent measurement of these financial instruments).
Promotional bonuses are reported in profit or loss and are included within ‘selling and distribution costs’.
Overview
4.4 Interest and Dividend Income
Dividend income is recognised at the time the right to receive payment is established.

Interest income is reported on an accrual basis, using the effective interest method.
4.5 Functional and Presentation Currency
The consolidated financial statements are presented in US dollar (USD), which is also the functional currency of all the
companies in the group with the exception of one subsidiary, which has a functional currency of Japanese yen (JPY).
Foreign Currency Transactions and Balances
Foreign currency transactions are translated into the functional currency of the group companies, using the exchange rates
prevailing at the dates of the transactions (spot exchange rate). Foreign exchange gains and losses resulting from the
settlement of such transactions and from the remeasurement of monetary items denominated in foreign currency at
year-end exchange rates are recognised in the statement of comprehensive income.
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Non-monetary items are not retranslated at the year-end and are measured at historical cost (translated using the
exchange rates at the transaction date).
Foreign Operations
In the group’s financial statements, all assets, liabilities and transactions of group entities with a functional currency other
than the USD are translated into USD upon consolidation. In 2015, one of the subsidiary companies of the group changed
its functional currency from Malaysian Ringgit (MYR) to USD. This was due to the subsidiary starting to primarily transact
in USD.
On consolidation, assets and liabilities have been translated into USD at the closing rate at the reporting date. Income and
expenses have been translated into USD at the average rate over the reporting period. Exchange differences are
charged/credited to other comprehensive income and recognised in the currency translation reserve in equity. On disposal
of a foreign operation, the related cumulative translation differences recognised in equity are reclassified to profit or loss
and are recognised as part of the gain or loss on disposal.

4.6 Operating Expenses

Operating expenses are recognised in profit or loss upon utilisation of the service or at the date of their origin.
4.7 Employee Benefits
Contributions towards the state pension in accordance with local legislation are recognised in the profit or loss when they
are due.
4.8 Operating Leases
Operating leases are those leases where a significant portion of the risk and rewards of ownership are effectively retained
Overview
by the lessor. Where the group is a lessee, payments on operating lease agreements are recognised as an expense on a
straight-line basis over the lease term. Associated costs, such as maintenance and insurance, are expensed as incurred.

4.9 Segment Reporting
The standard requires a ‘management approach’ under which segment information is presented on the same basis as that
used for internal reporting purposes. The chief operating decision maker, who is responsible for allocating resources and
assessing performance of the operating segments, has been identified as the group‘s board of directors.
An operating segment is a component of an entity:
(a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and
expenses relating to transactions with other components of the same entity),
(b) whose operating results are regularly reviewed by the entity’s chief operating decision maker to make decisions about
resources to be allocated to the segment and assess its performance, and
(c) for which discrete financial information is available.
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The group is primarily engaged in various activities associated with investment, online gaming and financial trading (see
note 1). In this regard, the group mainly earns revenue from trades placed for positions which have closed. The group
management selected to identify operating segments based on geographical areas.
The group is not required to report a measure of total assets and liabilities for each reportable segment since such
amounts are not regularly provided to the chief operating decision maker. However, in accordance with IFRS 8, non-current
assets (other than financial instruments and deferred tax assets) are divided into geographical areas in note 5.
4.10 Plant and Equipment
Items of plant and equipment are initially recognised at acquisition costs, including any costs directly attributable to
bringing the assets to the location and condition necessary for it to be capable of operating in a manner intended by
management. These are subsequently measured at cost less subsequent depreciation and impairment losses.

Depreciation is recognised on a straight-line basis to write down the cost of the assets over their estimated useful lives on
the following bases:
Years
Motor vehicles 4
Office equipment 5
Computer equipment 3.33
Fixtures and fittings 5
Depreciation begins when the asset is available for use and continues until the asset is derecognised. No depreciation is
Overview
charged to assets not yet brought into use or under construction. Depreciation is included within ‘administrative and other
operating expenses’.
Gains or losses arising on the disposal of plant and equipment are determined as the difference between the disposal

proceeds and the carrying amount of the assets and are recognised in profit or loss within 'other operating income' or
'administrative and other operating expenses'.
Costs relating to repairs and maintenance of plant and equipment are charged to the statement of comprehensive income
during the period in which they are incurred.
4.11 Intangible Assets
Intangible assets comprise the trading platform, licence, computer software and internet domain name.
Internally generated intangible asset
Trading Platform
Investor Resources
Expenditure on the research phase of projects to develop a new trading platform is recognised as an expense as incurred.
Costs that are directly attributable to the trading platform’s development phase are recognised as intangible asset, provided
they meet the following recognition requirements:
• the development costs can be measured reliably;

• the project is technically and commercially feasible;
• the group intends and has sufficient resources to complete the project;
• the group has the ability to use or sell the software; and
• the platform will generate probable future economic benefits.
Development costs are incurred in order for the trading platform to meet the constant and current business and operating
requirements of the group. Management has re-assessed the useful life of the trading platform and concluded that the
trading platform has a useful life of 3.33 years as a result of the development costs incurred.
Any capitalised internally developed software that is not yet complete is not amortised but is subject to impairment testing
as described in note 4.12.

Separately acquired intangible assets
Licence
Payments made to third parties in order to acquire intellectual property rights, including initial upfront payments, are
capitalised and are reported within ‘licence’. If additional payments are made to the originator company for the provision of
technical support and other activities, such payments will be expensed if they are deemed to be a compensation for
support services not resulting to additional transfer of intellectual property rights to the company and group. Additional
payments will be capitalised if they are deemed to be compensation for the transfer to the company and group of additional
property developed at the risk of the originator company.
The licence acquired by the company and group includes the right to download, install and use a system intended for the
provision of brokerage services in the financial markets, for which revenues will be generated by the group. The licence
agreement is enforceable for one year and automatically renewable until either of the parties terminate the agreement.
Overview
Further, the extension of the agreement shall not entail any other licence fee. On this basis, management considers this
intangible asset to have an indefinite useful life and is subject to impairment testing as described in note 4.12.

Acquired Computer Software
Acquired computer software licenses are capitalised on the basis of the costs incurred to acquire and install the specific
software. These are subsequently accounted for using the cost model, cost less accumulated amortisation and impairment
losses. Capitalised costs are amortised on a straight-line basis over their estimated useful lives, as these assets are
considered finite. In addition, they are subject to impairment testing as described in note 4.12. Amortisation is charged over
the useful lives of the assets which are estimated to be 3.33 years from the date they are available for use.
Amortisation has been included within ‘administrative and other operating expenses’.
Subsequent expenditure on the maintenance of computer software are expensed as incurred.
Internet Domain Name

Domain name is capitalised on the basis of the costs directly attributable to the acquisition of the group’s and company’s
Investor Resources
internet domain.
The domain www.Binary.com is the main domain used throughout the group to provide the various activities associated
with investment and financial trading. The activities are only available online via the domain. On this basis, management
considers this intangible asset to have an indefinite useful life. Subsequently, domain name is carried at cost less
accumulated impairment losses, as this asset is considered to have an indefinite life. Refer to note 4.12 for a description of
impairment testing procedures.
Subsequent expenditure on the maintenance of the domain name are expensed as incurred.
4.12 Impairment Testing of Intangible and Tangible Assets
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are largely independent
cash inflows (cash-generating units). As a result, some assets are tested individually for impairment and some are tested
at cash-generating unit level.
All individual assets or cash-generating units are tested for impairment whenever events or changes in circumstances
indicate that the carrying amount may not be recoverable.

An impairment loss is recognised for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds
its recoverable amount. The recoverable amount is the greater of its fair value less costs to sell and its value in use. To
determine the value in use, management estimates expected future cash flows from each cash-generating unit and
determines a suitable interest rate in order to calculate the present value of those cash flows. Discount factors are
determined individually for each cash-generating unit and reflect their respective risk profiles as assessed by management.
Impairment losses are recognised in the profit or loss. Impairment losses for cash-generating units are charged pro rata to
the assets in the cash-generating unit. All assets are subsequently reassessed for indications that an impairment loss
previously recognised may no longer exist. An impairment charge that has been recognised is reversed if the
cash-generating unit’s recoverable amount exceeds its carrying amount.
An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount
that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.
Overview
4.13 Investments in Subsidiaries
Investments in subsidiaries are included in the company’s statement of financial position at cost less any impairment loss

that may have arisen. Income from investment is recognised only to the extent of distributions received by the company
from post-acquisition profits. Distributions received in excess of such profits are regarded as a recovery of the investment
and are recognised as a reduction of the cost of the investment.
At the end of each reporting period, the company reviews the carrying amount of its investments in subsidiaries to
determine whether there is any indication of impairment and, if any such indication exists, the recoverable amount of the
investment is estimated. An impairment loss is the amount by which the carrying amount of an investment exceeds its
recoverable amount. The recoverable amount is the higher of fair value less costs to sell and value in use. An impairment
loss that has been previously recognised is reversed if the carrying amount of the investment exceeds its recoverable
amount. An impairment loss is reversed only to the extent that the carrying amount of the investment does not exceed the
carrying amount that would have been determined if no impairment loss had been previously recognised. Impairment
losses and reversals are recognised immediately in profit or loss.
Investor Resources
4.14 Financial Instruments
Recognition, Initial Measurement and Derecognition
Financial assets and financial liabilities are recognised when the company and group become a party to the contractual
provisions of the financial instrument and are measured initially at fair value adjusted by transactions costs, except for
those carried at fair value through profit or loss which are measured initially at fair value. Subsequent measurement of
financial assets and financial liabilities are described below.
Financial assets are derecognised when the contractual rights to the cash flows from the financial asset expire, or when the
financial asset and all substantial risks and rewards are transferred. A financial liability is derecognised when it is
extinguished, discharged, cancelled or expires.
Classification and Subsequent Measurement of Financial Assets

For the purpose of subsequent measurement, financial assets are classified into the following categories upon initial
recognition:
• Loans and receivables;

• Financial assets at FVTPL; and
• Available-for-sale financial assets

All financial assets are subject to review for impairment at least at each reporting date to identify whether there is any
objective evidence that a financial asset or a group of financial assets is impaired.
All income and expenses relating to loans and receivables are presented within ‘finance costs’ or ‘finance income’, except
for impairment of receivables which is presented within ‘administrative and other operating expenses’.
Loans and Receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an
active market. After initial recognition, these are measured at amortised cost using the effective interest method, less
provision for impairment. Discounting is omitted where the effect of discounting is immaterial. The group’s and the
company’s cash and cash equivalents, and most receivables fall into this category of financial instruments.
Individually significant receivables are considered for impairment when they are past due or when other objective evidence
Overview
is received that a specific counterparty will default. Receivables that are not considered to be individually impaired are
reviewed for impairment in groups, which are determined by reference to the industry and region of a counterparty and
other shared credit risk characteristics. The impairment loss estimate is then based on recent historical counterparty
default rates for each identified group.

Financial Assets at FVTPL
Financial assets at FVTPL include financial assets that are classified as held for trading. All derivative financial instruments
fall into this category. Assets in this category are measured at fair value with gains and losses recognised in profit or loss.
The fair values of financial assets in this category are determined by reference to active market transactions or using a
valuation technique where no active market exists.
Available-for-sale Financial Assets
Available-for-sale financial assets are non-derivative financial assets that are either designated to this category or do not
qualify for inclusion in any of the other categories of financial assets. The group’s and the company’s available-for-sale
financial assets include the equity investment in other related party.
The equity investment in other related party is measured at cost less any impairment charges, as its fair value cannot
Investor Resources
currently be estimated reliably. Impairment charges are recognised in profit or loss.
Reversals of impairment losses are not recognised in profit or loss and any subsequent increase in fair value is recognised
in other comprehensive income.
Classification and Subsequent Measurement of Financial Liabilities

The company’s and the group’s financial liabilities include trade and other payables and derivative financial instruments.
Financial liabilities are measured subsequently at amortised cost using the effective interest method, except for derivatives
which are carried subsequently at fair value with gains or losses recognised in profit or loss.
All interest-related charges are included within ‘finance costs’. Changes in the instrument’s fair value that are reported in
profit or loss are included within ‘net gains and losses attributable to fair value changes’.
Derivative financial instruments are accounted for at fair value through profit or loss (FVTPL).

4.15 Income Taxes
Tax expense recognised in profit or loss comprises the sum of deferred tax and current tax not recognised in other
comprehensive income or directly in equity.
Current income tax assets and/or liabilities comprise those obligations to, or claims from, fiscal authorities relating to the
current or prior reporting periods, that are unpaid at the reporting date. Current tax is payable on taxable profit, which differs
from profit or loss in the financial statements. Calculation of current tax is based on tax rates and tax laws that have been
enacted or substantively enacted by the end of the reporting period.
Deferred income taxes are calculated using the liability method on temporary differences between the carrying amounts of
assets and liabilities and their tax bases. However, deferred tax is not provided on the initial recognition of an asset or
liability unless the related transaction is a business combination or affects tax or accounting profit. Deferred tax on
temporary differences associated with shares in subsidiaries and joint ventures is not provided if reversal of these
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temporary differences can be controlled by the company and it is probable that reversal will not occur in the foreseeable
future.

In addition, tax losses available to be carried forward are assessed for recognition as deferred tax assets.
Deferred tax assets and liabilities are calculated, without discounting, at tax rates that are expected to apply to their
respective period of realisation, provided they are enacted or substantively enacted by the end of the reporting period.
Deferred tax assets are recognised to the extent that it is probable that the underlying tax loss or deductible temporary
difference will be able to be utilised against future taxable income. This is assessed based on the company’s forecast of
future operating results, adjusted for significant nontaxable income and expenses and specific limits on the use of any
unused tax loss or credit. Deferred tax liabilities are always provided for in full.
Deferred tax assets and liabilities are offset only when the group and the company has a right and intention to set off
current tax assets and liabilities from the same taxation authority.
Changes in deferred tax assets or liabilities are recognised as a component of tax income or expense in profit or loss,
except where they relate to items that are recognised in other comprehensive income or directly in equity, in which case the
Investor Resources
related deferred tax is also recognised in other comprehensive income or equity, respectively.
4.16 Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, deposits with financial institutions, together with
other short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject
to an insignificant risk of changes in value.
Other short-term investments with a maturity of more than 90 days until one year from the date of acquisition are included
as cash and cash equivalents only if such short-term investments have early withdrawal provisions and is withdrawable
immediately upon notice, and if the penalty for such premature termination of the term is unlikely to be significant.
Otherwise, these financial assets are classified as current within ‘other financial assets’ in the statement of financial
position.

4.17 Equity, Reserves, and Dividend Payments
Share capital represents the nominal value of shares that have been issued. Share premium includes any premiums
received on issue of share capital.
Retained earnings include all current and prior period results as disclosed in the statement of comprehensive income less
dividend distributions.
Other reserves:
• Share option reserve includes all share-based remuneration relating to options still outstanding at the end of the reporting
period which were ultimately recognised as an expense in profit or loss.
• Investor compensation scheme reserve represents funds contributed by the subsidiary company to the investor
compensation scheme for this specific purpose in accordance with local legislation. These funds are not distributable.
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Exchange translation reserve include all exchange differences arising from the translation of the financial statements of
overseas subsidiaries.

Reserve for own shares includes repurchased shares which are classified as treasury shares. When share capital
recognised as equity is repurchased, the amount of consideration paid, which includes directly attributable costs, net of any
tax effects, is recognised as a deduction from equity. When treasury shares are sold and reissued subsequently, the amount
received is recognised as an increase in equity, and the resulting surplus or deficit on the transaction is presented in share
premium.
All transactions with owners of the parent are recorded separately within equity. Non-controlling interests, presented as
part of equity, represent the position of a subsidiary’s total comprehensive income and net assets that is not held by the
group.
Dividend distributions payable to equity shareholders are included with short-term financial liabilities when the dividends
are approved in a general meeting prior to the end of the reporting period.
Investor Resources
4.18 Share-based Employee Remuneration
The group operated an equity-settled share-based remuneration plans for its employees and directors. None of the group's
plans featured any options for a cash settlement.
All services received in exchange for the grant of any share-based payment were measured at their fair values. Where
employees are rewarded using share-based payments, the fair values of employees' and directors’ services were
determined indirectly by reference to the fair value of the equity instruments granted.
All share-based remuneration was ultimately recognised as an expense in profit or loss with a corresponding credit to other
reserves.
If vesting periods or other vesting conditions apply, the expense was allocated over the vesting period, based on the best
available estimate of the number of share options expected to vest. Estimates were subsequently revised, if there was any
indication that the number of share options expected to vest differed from previous estimates. Any cumulative adjustment
prior to vesting was recognised in the current period. No adjustment was made to any expense recognised in prior periods
if share options ultimately exercised were different to that estimated on vesting.
Upon exercise of share options, the proceeds received, net of any directly attributable transaction costs up to the nominal
value of the shares issued, were allocated to share capital with any excess being recorded as share premium.

4.19 Provisions
Provisions are recognised when present obligations will probably lead to an outflow of economic resources from the
company and they can be measured reliably. A present obligation arises from the presence of a legal or constructive
commitment that has resulted from past events, such as product warranties, legal disputes or onerous contracts.
Provisions are not recognised for future operating losses. Timing or amount of the outflow may still be uncertain.
Provisions are measured at the estimated expenditure required to settle the present obligation, based on the most reliable
evidence available at the end of the reporting period, including the risks and uncertainties with the present obligation. Where
there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. Long term obligations are discounted to their present values, where the
time value of money is material.
Any reimbursement that the group and the company is virtually certain to collect from a third party with respect to the
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obligation is recognised as a separate asset. However, this asset may not exceed the amount of the related provision. All
provisions are reviewed at each reporting period and adjusted to reflect the current best estimate of the management.

No liability is recognised if an outflow of economic resources as a result of present obligations is not probable. Such
situations are disclosed as contingent liabilities unless the outflow of resources is remote.
4.20 Significant management judgement in applying accounting policies and estimation uncertainity
The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and
assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Use of
available information and application of judgement are inherent in making estimates. Actual results in future could differ
from such estimates and the differences may be material to the financial statements. The estimates and underlying
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which
the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision
affects both current and future periods.
Except as disclosed below, in the opinion of the directors, the accounting estimates and judgements made in the course of
Investor Resources
preparing these financial statements are not difficult, subjective or complex to a degree which would warrant their
description as critical in terms of the requirements of IAS 1 (revised).
Significant Management Judgement

The following are the significant management judgements in applying the accounting policies of the company and group
that have the most significant effect on the financial statements.
Capitalisation of Internally Developed Trading Platform

Distinguishing the research and development phases of a new customised trading platform and determining whether the
recognition requirements for the capitalisation of development costs are met requires judgement. After capitalisation,
management monitors whether the recognition requirements continue to be met and whether there are any indicators that
capitalised costs may be impaired (see note 4.12).
Recognition of Deferred Tax Assets

The extent to which deferred tax assets can be recognised is based on an assessment of the probability of the future
taxable income of subsidiary companies against which the deferred tax assets can be utilised. In addition, significant
judgement is required in assessing the impact of any legal or economic limits or uncertainties in various tax jurisdictions
(see notes 4.15 and 17).

Control Assessment
IFRS 10 requires the parent company to assess its involvement in its investee companies. Refer to note 15.2 for further
details.
Estimation Uncertainty
Information about estimates and assumptions that have the most significant effect on recognition and measurement of
assets, liabilities, income and expenses is provided below. Actual results may be substantially different.
Fair Value Measurement

Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes
are not available) and non-financial assets. This involves developing estimates and assumptions consistent with how
market participants would price the instrument. Management bases its assumptions on observable data as far as possible
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but this is always not available. In that case, management uses the best information available. Estimated fair values may
vary from the actual prices that would be achieved in an arm’s length transaction at the reporting date (see note 26.5).

Impairment of Non-Financial Assets
In assessing impairment, management estimates the recoverable amount of each asset or cash-generating units based on
expected future cash flows and uses an interest rate to discount them. Estimation uncertainty relates to assumptions about
future operating results and the determination of a suitable discount rate (see notes 4.12 and 12).
In the process of measuring expected future cash flows management makes assumptions about future operating results.
These assumptions relate to future events and circumstances. The actual results may vary, and may cause significant
adjustments to the group's and the company’s assets within the next financial year. In most cases, determining the
applicable discount rate involves estimating the appropriate adjustment to market risk and the appropriate adjustment to
asset-specific risk factors.
Impairment of Receivables
The group and company make an allowance for doubtful debtors based on an assessment of the recoverability of
receivables. Allowances are applied to receivables on a case by case basis where events or changes in circumstances
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indicate that the carrying amounts may not be recoverable. Management analyses historical bad debts, creditworthiness
and current economic trends when making a judgement to evaluate the adequacy of the allowance for doubtful debtors.
Where the expectation is different from the original estimate, such difference will impact the carrying value of receivables.
None of the company’s and group’s receivables were impaired and none are past due.
Useful Lives of Depreciable Assets

Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected
utility of the assets. The carrying amounts are analysed in notes 12 and 13. Uncertainties in these estimates relate physical
wear and tear, technical, technologies or commercial obsolescence on the use of the assets.

5. Geographical Segments
The group’s websites operate over a network of 70 core servers, with a varying number of additional servers to handling pricing
on-demand. These are hosted at professional ISP and cloud companies in five different locations around the globe. For
management purposes, the group's operations are managed on a worldwide basis from four major operating divisions located in
Malta, Isle of Man, Costa Rica and Malaysia. The following table provides an analysis of the group's contract sales revenue and
payout expense by geographical market,irrespective of the origin of the services.
Contract sales revenue Payout expense by

by geographical market geographical market
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2016 2015 2016 2015
USD USD USD USD

Africa 29,527,689 27,512,119 28,633,358 26,716,052
Americas 26,714,683 5,758,372 25,851,918 5,503,363
Asia 644,107,417 586,762,032 627,134,671 575,998,559
Australia/Oceania 30,154,236 38,618,593 28,990,252 37,249,864
Europe (Russian-speaking countries) 21,770,597 45,642,495 21,601,449 44,779,837
Europe (other countries) 95,319,124 58,258,414 92,715,282 55,198,895
847,593,746 762,552,025 824,926,930 745,446,570
The following table provides an analysis of the duties incurred by the group analysed by geographical area.
Investor Resources
Duties by geographical area
2016 2015
USD USD
Isle of Man 1,222 11,803

Malta 66,397 68,874
United Kingdom 307,517 122,407
Republic of Ireland 2,875 399
378,011 203,483

The following is an analysis of the carrying amount of segment assets, and additions to tangible and intangible assets (excluding
trading platform), analysed by the geographical area in which the assets are located.
Carrying amount of Additions to tangible and

segment assets intangible assets
2016 2015 2016 2015
USD USD USD USD
Isle of Man - 5,231 - -

Malaysia 223,869 240,378 85,985 201,175
Malta 31,734 29,633 15,786 26,433
Other 222,745 113,544 102,752 10,985
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478,348 388,786 204,523 238,593

6. Employee Benefits Expense
GROUP COMPANY
2016 2015 2016 2015
NOTE USD USD USD USD
Wages and salaries 2,276,602 1,576,336 - 160,000

Social security costs 240,028 187,695 - -
Staff bonus 6.1 525,412 473,881 - -
Independent contractors costs 936,940 1,260,210 - -
Investor Resources
Development of trading platform (1,161,417) (1,198,875) - -
Total employee benefits expense 2,817,565 2,299,247 - 160,000

(including directors’ remuneration)
The average number of persons employed during the year was as follows:.
GROUP COMPANY
2016 2015 2016 2015
Directors 11 11 2 2
Employees 74 37 - -
85 48 2 2

6.1 Staff Bonus Scheme

A discretionary group-wide bonus was approved by the directors to be distributed to its employees during the reporting
periods under review:
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Staff bonuses paid to directors 187,200 118,500 - 90,000

Staff bonuses paid to employees 338,212 355,381 - -
Overview
525,412 473,881 - 90,000

6.2 Share-based Payment
The group had an employee share option scheme (the “scheme”) for granting of non-transferable options to eligible
employees. Options were granted with a fixed exercise price and with life of up to five years at the date of grant. Awards
under the scheme were generally reserved for employees at senior management level and above. Options granted under
the scheme were exercisable after the vesting period established at the date of grant, subject to continued employment.
Options were valued using the Black-Scholes option-pricing model. No performance conditions were included in the fair
value calculations.
The fair value per option granted and the assumptions used in the calculation were as follows:
Grant date
Investor Resources
2010
Value of share at grant USD 1.25

Exercise price USD 1.25
Expected life (years) 3-5
Risk-free rate 3.80%
Expected volatility 100%
Dividend yield 7.00%
Fair value of option USD 0.92

The expected life of options was the average expected period to exercise. A reconciliation of option movements over the
year ended 31 December 2015 is shown below:
2015 2015
No. WAEP*
USD
Outstanding at the beginning of the year 25,000 1.250

Granted during the year - 1.250
Exercised during the year - 1.250
Forfeited during the year (25,000) 1.250
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Outstanding at the end of the year - 1.250
Exercisable at the end of the year - 1.250
* Weighted average exercise price

There were no options outstanding at 31 December 2016 and there were no expense recognised during the year relating to
employee share-based payment plans (2015: USD Nil).
7. Other Net Operating Income
GROUP COMPANY
2016 2015 2016 2015

USD USD USD USD
Other income -tax refund receivable 401,317 136,316 401,137 136,316 Investor Resources
Binary shop 947 - - -

Marketing meetings 3,778 - - -
Dormant account fees 223,868 243,397 - -
Write off of loan payable to a subsidiary company - - - 159
Gain on disposal of fixed asset - - - 7
Loss recovery from fraudulent accounts (38,573) (61,640) - (1,202)
591,337 318,073 401,137 135,280


8. Finance Income, Other Financial Items and Net Gains on Margin Trading
Finance income, other financial items and net gains on margin trading for the reporting periods presented consist of the following
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Interest income from demand deposits 12,079 17,990 4,594 8,190

Dividend income (note) - - 20,658,890 15,987,381
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Finance income 12,079 17,990 20,663,484 15,995,571
Dividend income during the year were paid to the company through related party balances see notes 16 and 24 .

GROUP COMPANY
2016 2015 2016 2015

USD USD USD USD
et loss on e change dfferences (15,584) (222,623) 15,746 163,344
Other financial items (15,584) (222,623) 15,746 163,344
GROUP COMPANY
2016 2015 2016 2015
Investor Resources
USD USD USD USD
Realised gain on margin trading 155,099 166,116 155,099 166,116

Unrealised loss on margin trading note 18 (17,846) (5,165) (17,846) (5,165)
Net gains on margin trading 137,253 160,951 137,253 160,951


9. Profit Before Tax
Profit before ta is stated after charging
GROUP COMPANY
2016 2015 2016 2015
Amortisation of intangible assets 12 833,360 487,580 832,470 486,489

Depreciation of plant and equipment 13 107,807 88,533 239 12,260
Auditor's remuneration 45,347 63,012 14,147 19,217
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10. Tax Expense

The ta on losses and profits derived from local and foreign operations has been calculated at the applicable ta rates in those
jurisdictions and in accordance with applicable double ta treaties. Binary Limited, the company, is not subject to ta .
The relationship between the e pected ta e pense based on the effective ta rate of the group at 3.22% 2015 1.5% and the ta
e pense actually recognised in the consolidated statement of comprehensive income can be reconciled as follows
GROUP
2016 2015
USD USD
Profit before ta 14,317,200 10,613,534

Effective ta rate of the group 3.22 % 1.50%
Investor Resources
Expected tax expense (461,014) (159,203)
Adjustments for the ta effects of
Non-deductible expenses (665,216) 240,113
Non-taxable income 31,428 378
Underprovison in previous years - (56)
Effects of differences in tax rates 645,322 245,868
Effect of unrecognised deferred ta asset (10,869) (5,907)
Actual tax expense, net (460,349) (159,033)
Comprising
Current tax expense (462,161) 164,095
Deferred ta e pense arising from origination and reversal of temporary differences 1,812 5,062
(460,349) (159,033)
Refer to note 17 for information on the group s deferred ta asset.
Binary Group Services Sdn. Bhd., a subsidiary company registered in Malaysia, was granted approved operational head uarters
company status with 100% ta e emption on its statutory income for a period of ten years commencing from year of assessment
2015 to year of assessment 2024.

11. Earnings Per Share
Earnings per share has been calculated using the profit attributable to shareholders of the parent company, Binary Limited, as the
numerator, ie no adjustments to profit were necessary in 2015 and 2016.
GROUP COMPANY
2016 2015 2016 2015

USD USD USD USD
Profit attributable to e uity holders of the company 13,859,361 10,454,501 14,201,350 10,585,694
eighted average number of ordinary shares in issue 21,201,087 21,425,746 21,201,087 21,425,746
Overview
Earnings per share 65.37 cents 48.79 cents 66.98 cents 49.41 cents

12. Intangible Assets
Computer
Trading Platform Licence Domain Name Software Total
GROUP USD USD USD USD USD
Cost
At 1 January 2015 1,104,800 - 100,500 20,161 1,225,461
Additions 1,198,875 - 3,700 - 1,202,575
Disposals - - - (1,257) (1,257)
At 31 December 2015 2,303,675 - 104,200 18,904 2,426,779
At 1 January 2016 2,303,675 - 104,200 18,904 2,426,779
Investor Resources
Additions 1,161,417 100,000 - - 1,261,417
At 31 December 2016 3,465,092 100,000 104,200 18,904 3,688,196
Amortisation
At 1 January 2015 - - - 15,766 15,766
Charge for the year 485,529 - - 2,051 487,580
Disposals - - - (1,257) (1,257)
At 31 December 2015 485,529 - - 16,560 502,089
At 1 January 2016 485,529 - - 16,560 502,089

Charge for the year 831,510 - - 1,850 833,360
At 31 December 2016 1,317,039 - - 18,410 1,335,449
Net book values

At 31 December 2016 2,148,053 100,000 104,200 494 2,352,747
At 31 December 2015 1,818,146 - 104,200 2,344 1,924,690


Computer
Trading Platform Licence Domain Name Software Total
COMPANY USD USD USD USD USD
Cost
At 1 January 2015 1,104,800 - 100,500 16,523 1,221,823
Additions 1,198,875 - - - 1,198,875
Disposals - - - (1,257) (1,257)
At 31 December 2015 2,303,675 - 100,500 15,266 2,419,441
At 1 January 2016 2,303,675 - 100,500 15,266 2,419,441

Additions 1,161,417 100,000 - - 1,261,417
At 31 December 2016 3,465,092 100,000 100,500 15,266 3,680,858
Overview
Amortisation
At 1 January 2015 - - - 14,109 14,109
Charge for the year 485,529 - - 960 486,489

Disposals - - - (1,257) (1,257)
At 31 December 2015 485,529 - - 13,812 499,341
At 1 January 2016 485,529 - - 13,812 499,341

Charge for the year 831,510 - - 960 832,470
At 31 December 2016 1,317,039 - - 14,772 1,331,811
Net book values
At 31 December 2016 2,148,053 100,000 100,500 494 2,349,047
At 31 December 2015 1,818,146 - 100,500 1,454 1,920,100
Investor Resources
Amortisation is included within administrative and other operating e penses.
At 31 December 2016, an amount of USD 36,750 remains unpaid in relation to the acquisition of the licence and is included as
capital creditors within trade and other payables see note 24 .
Based on the group s results for the si -month period subse uent to the end of the reporting period, the directors concluded that
the group s and company s intangible assets were not impaired. As of 31 December 2016 and 2015, management has not
determined impairment on domain names, trading platform and licence of the group and the company.

13. Plant & Equipment
Fixtures and Computer Office

Motor Vehicles Fittings Equipment Equipment Total
GROUP USD USD USD USD USD
Cost
At 1 January 2015 18,995 115,586 458,847 22,874 616,302
Disposals - 4,701 55,348 4,646 64,695
Additions - 131,692 87,511 15,690 234,893
At 31 December 2015 18,995 242,577 491,010 33,918 786,500
Overview
At 1 January 2016 18,995 242,577 491,010 33,918 786,500
E change adjustment - 107 98 7 212
Disposals - - (51,760) 1,496 (53,256)
Additions - 51,124 48,881 4,518 104,523

At 31 December 2016 18,995 293,808 488,229 36,947 837,979
Depreciation
At 1 January 2015 18,995 102,652 334,610 13,537 469,794
E change adjustment - - 2 - 2
Disposals - 4,321 45,139 4,611 54,071
Charge for the year - 9,453 74,942 4,138 88,533
At 31 December 2015 18,995 107,784 364,415 13,064 504,258
At 1 January 2016 18,995 107,784 364,415 13,064 504,258

E change adjustment - 45 (85) 4 134
Disposals - - 46,533 (1,073) 47,606
Charge for the year - 33,801 68,004 6,002 107,807
Investor Resources
At 31 December 2016 18,995 141,540 385,801 17,989 564,325
Net book values

At 31 December 2016 - 152,268 102,428 18,958 273,654
At 31 December 2015 - 134,793 126,595 20,854 282,242
Fi ed assets with a net book value of USD 5,650 2015 USD 10,624 were disposed during the year. Proceeds amounting to USD
4,108 2015 USD 7,523 was received and a loss on disposal amounting to USD 1,542 2015 USD 3,101 was recognised in profit
or loss within administrative and other operating e penses .

Computer Office
Equipment Equipment Total
COMPANY USD USD USD
Cost
At 1 January 2015 1,061 165,373 166,434
Disposals - (118,767) (118,767)
At 31 December 2015 1,061 46,606 47,667
At 1 January 2016 1,061 46,606 47,667

Disposals (1,061) (39,329) 40,390
At 31 December 2016 - 7,277 7,277
Overview
Depreciation
At 1 January 2015 1,061 139,727 140,788
Disposals - (105,620) (105,620)
Charge for the year - 12,260 12,260

At 31 December 2015 1,061 46,367 47,428
At 1 January 2016 1,061 46,367 47,428

Disposals (1,061) (39,329) 40,390
Charge for the year - 239 239
At 31 December 2016 - 7,277 7,277
Net book values
At 31 December 2016 - - -
At 31 December 2015 - 239 239
Depreciation is included within administrative and other operating e penses .
Investor Resources

14. Operating Leases as Lessee
The group s future minimum operating lease payments are as follows
Minimum lease payments due within
1 year 2 to 5 years Total
USD USD USD
At 31 December 2016
Binary Europe Limited - office 7,875 - 7,875
Binary Investments Europe Ltd - office 7,875 - 7,875
Overview
Binary K.K. - office 30,976 50,336 81,312
Binary Group Services Sdn. Bhd. - office 114,037 85,039 199,076
Binary Group Services Sdn. Bhd. - apartments 14,712 - 14,712

175,475 135,375 310,850
At 31 December 2015
Binary Europe Limited - office 8,126 16,586 24,712
Binary Investments Europe Ltd - office 8,126 16,586 24,712
Binary K.K. - office 27,855 17,409 45,264
Binary Group Services Sdn. Bhd. - office 91,574 165,109 256,683
Binary Group Services Sdn. Bhd. - apartments 15,358 - 15,358
151,039 215,690 366,729
Lease payments recognised as an e pense during the year amounted to USD 13,817 2015 USD 13,911 for the property in Malta,
Investor Resources
USD 99,177 2015 USD 60,560 for the property in Malaysia, and USD 33,454 2015 USD 11,947 for the office in Japan. This
amount consists of minimum lease payments. o sublease payments or contingent rent payments were made or received. o
sublease income is e pected as all assets held under lease agreements are used e clusively by the group.
ne rental contract is for the leased office premises at Mompalao Building, Suite 2, Tower Road, Msida MSD 1825, Malta and
three car parking spaces located on the same block of the building. The agreement has a term of four years commencing on 1
January 2014. The monthly rent for the entire duration of the lease is 1,028 payable every three months in advance. n the
e piration of the said four years, should the lessee wish to renew this agreement for a further period of four years, the rent shall
be automatically increased by five percent. The uarterly rent is 110 per parking space. n 25 June 2015, the leased car parking
spaces increased to si spaces.
The second rental contract is for the leased office premises at Block C 13-02, iTech Tower, Jalan Impact, Cyber 6, 63000
Cyberjaya, Selangor Darul Ehsan, Malaysia. The lease commenced on 15 ovember 2015 and had an initial term of three years,
renewable for another two terms of three years. The lessee may terminate the lease after providing three months notice at the
end of completion of the three years. The monthly rent is M R 31,536 and is payable in advance. An amount of M R129,373 or
USD 30,104 representing security and other deposits was given as part of the lease agreement and was included within deposits
in receivables in note 16.

The third rental contract is for the leased office premises at Block C, SME Technopreneur Centre 2, 2260 Jalan Usahawan 1,
63000 Cyberjaya, Selangor Darul Ehsan, Malaysia. The lease commenced on 28 January 2008 and had an initial term of two
years, automatically renewable for another two years. The contract was terminated on 27 January 2016.
The fourth rental contract is for the leased office premise at Hiroo Miyata Building 3F, 9-16, Hiroo 1-chome, Shibuya-ku, Tokyo
150-0012, Japan with a monthly rental of JP 280,000 and monthly utility and maintenance fees for at least JP 78,000 for the
entire duration of the lease. The lease commenced on 15 August 2015 and had an initial term of two years, renewable for another
term of two years. The lessee may terminate the lease after providing 6 months notice prior to contract maturity date.
The group also has lease contracts for a number of apartments located in Cyberjaya, Malaysia. The rented properties are used for
the accommodation of its employees. The group is subse uently reimbursed by the employees at cost for some of the
apartments being rented. Total rent e pense during the year relating to these apartments amounted to USD 3,907 2015 USD
4,936 .
Overview
The group s operating lease agreements do not contain any contingent rent clauses. Unless otherwise stated, none of the
operating lease agreements contain renewal or purchase options or escalation clauses or any restrictions regarding dividends,
further leasing or additional debts.

15. Equity Investments
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
NOTES
Investment in subsidiaries 15.1 - - 2,888,081 1,227,697

Investment in other related party 15.3 - - - -
Investor Resources
Total equity investments - - 2,888,081 1,227,697
15.1 Investment in Subsidiaries
COMPANY
2016 2015
USD USD
Investment in subsidiaries, at cost 1,227,697 147,006

Additions 1,660,384 1,080,050
Disposals - (159)
Carrying amount at 31 December 2,888,081 1,227,697


The company has un uoted investments in the following subsidiaries
PROPORTION
OF
COUNTRY OF OWNERSHIP PRINCIPAL
NAME OF COMPANY REGISTERED OFFICE INCORPORATION INTEREST ACTIVITY
5th Floor, Building 6

Binary (CR) Centro Ejecutivo La Sabana
SOCIEDAD ANONIMA Sabana Sur, San José, Costa Rica Costa Rica 100% Trading services
First Floor, Millennium House Fixed odds

ictoria Road, Douglas financial betting
Binary (IOM) Limited Isle of Man IM2 4R Isle of Man 100% online gambling
Overview
Mompalao Building, Suite 2 Fi ed odds betting
Tower Road, Msida multi channel
Binary (Europe) Limited MSD1825, Malta Malta 100% gaming

Mompalao Building, Suite 2
Binary Investments Tower Road, Msida Financial investment
(Europe) Ltd MSD1825, Malta Malta 100% services
Unit F-3-1, Blok F, Third Floor

CBD Perdana 3, Jalan Perdana
Binary Group Services Cyber 12, 63000, Cyberjaya
Sdn. Bhd. Selangor Darul Ehsan, Malaysia Malaysia 100% Shared services
Suite 9, Ansuya Estate

Revolution Avenue Republic of
Binary Services Ltd ictoris, Mahe, Seyschelles Seychelles 100% Shared services
Unit o. 3A-16, Level 3A

Labuan Times S uare
Jalan Merdeka
87000 Federal Territory of Labuan
Binary (Labuan) Ltd Malaysia Malaysia 100% Holding company
2nd Floor
Investor Resources
eal Marketing Associates Building
ickham s Cay II
P. . Bo 3174 Road Town, Tortola British irgin Financial investment
Binary (BVI) Ltd. G1110, British irgin Islands Islands 100% services
3rd Floor, Hiroo Miyata Building

1-9-16 Hiroo, Shibuya-ku Financial investment
Binary K.K. Tokyo 150-0012, Japan Japan 100% services
Trust Company Complex

Binary (MI) Ltd Ajeltake Road, Ajeltake Island
struck off 13 March 2017 Majuro, Marshall Islands MH96960 Marshall Islands 100% Shared services
Unit F-3-1, Blok F, Third Floor

CBD Perdana 3, Jalan Perdana
Cyber 12, 63000 Cyberjaya,
4X Software Sdn. Bhd. Selangor Darul Ehsan, Malaysia Malaysia 100% Shared services
Binary (V) Ltd. Govant Building, BP 1276, Port ila Republic of Vanuatu 100% Trading services
Champion Group Ltd Govant Building, BP 1276, Port ila Republic of Vanuatu 50% Trading services

The following subsidiaries were incorporated during the reporting periods under review. The company has made the
following e uity investments in the following subsidiaries
2016 2015
USD USD
4 Software Sdn. Bhd. 117,661 -
Binary Ltd. 50,000 -
Champion Group Ltd 1 -
Binary Investments Europe Ltd - 999,999
Binary K.K. - 850
Binary MI Ltd - 1
167,662 1,000,850
Overview
n 5 May 2015, Regent Markets UK Ltd was put into li uidation and was dissolved. A loss on disposal of investment
amounting to USD 159 was recognised during 2015 in the statement of comprehensive income.

n 15 April 2015, the company invested an additional USD 80,000 in Binary Europe Limited representing the nominal value
of an additional 80,000 ordinary shares for USD 1 each.
The company invested a total amount of JP 160million or USD 1,492,722 for 16,000 additional shares for JP 10,000 per
share in Binary K.K., which is e uivalent to the nominal value of the shares. A first investment of JP 120 million or USD
1,099,485 was made on 12 May 2016 and a second of JP 40 million or USD 393,236 on 20 September 2016 through the
conversion of the shareholder s loan on both dates.
15.2 Significant judgements and assumptions
The group holds 50% of the ordinary shares and voting rights in Champion Group Ltd. The group also appointed one of the
two directors of the investee. Based on the contractual agreements between the group and the other investor, the investee s
Investor Resources
operations are dependent on the group, such as that the investee
depends on the group to fund a significant portion of its operations,
depends on the group for critical services, technology and operational support and setting up the technical and
operational systems re uired for the investee s operations,
depends on the group for key management personnel specialised in the knowledge of the investee s operations, and
the director of the investee appointed by the group has the sole authority in the approval of any e pense to be incurred
by the investee necessary for the conduct of its operations.
Therefore, the directors of the company concluded that the group has the practical ability to direct all relevant activities of
Champion Group Ltd. unilaterally and has control over Champion Group Ltd.

15.3 Investment in Other Related Party
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Balance at 1 January 98,792 98,792 98,792 98,792

Less impairment loss recognised (98,792) (98,792) (98,792) (98,792)
Balance at 31 December - - - -
Overview
The investment in other related party is measured at cost.
The company holds 3.19% interest in Gense Limited which consists of 1,000,000 fully paid up ordinary shares of GBP 0.10

each.
16. Receivables
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Amounts owed by a related company 16,430 - 16,430 -

Amounts owed by director - 36 - 36
Investor Resources
Loan receivable from a subsidiary company - - 1,700,000 1,700,000
Amounts owed by subsidiary undertakings - - 4,350,518 2,544,869
Financial assets 16,430 36 6,066,948 4,244,905
Prepayments 284,272 338,986 16,138 31,623

Tax refund receivable 537,635 467,702 537,635 467,702
Deposits 95,807 89,689 - -
Non-financial assets 917,714 896,377 553,773 499,325
Total receivables 934,144 896,413 6,620,721 4,744,230
Comprising
Non-current
Loan receivable from a subsidiary company - - 1,700,000 1,700,000
Current
Receivables 934,144 896,413 4,920,721 3,044,230
934,144 896,413 6,620,721 4,744,230


The amounts owed by subsidiary companies and a related company are unsecured, interest free and repayable on demand.
The loan receivable from a subsidiary company is unsecured, interest free and has no fi ed date and repayment, however,
repayment is subject to a three-month notice. Repayment of the said loan will be on the condition that the subsidiary company
has ade uate assets to repay its creditors, including its clients accounts.
The carrying amount of loans and receivables is considered a reasonable appro imation of fair value. All receivables have been
reviewed for indicators of impairment. o debtors have been found to be impaired and no provision was re uired in these
financial statements. o receivables were past due.
17. Deferred Tax Asset
Overview
Deferred ta es arising from temporary differences, unused ta losses and unused capital allowances of the group
can be summarised as follows

GROUP
At 1 January Recognised in At 31 December
2016 profit or loss 2016
USD USD USD
Non-current assets
Plant and equipment 135 (93) 42
Current assets
Cash and cash equivalents 7,320 (1,908) 5,412
Current liabilities
Trade and other payables 2,304 (1,036) 3,340
Unutilised tax losses 3,841 4,675 8,516

Unused capital allowances
Investor Resources
103 174 277
9,095 1,812 10,907
Recognised as
Deferred tax asset 9,095 - 10,907


Deferred ta for the comparative period 2015 can be summarised as follows
GROUP
At 1 January Recognised in At 31 December
2015 profit or loss 2015
USD USD USD
Non-current assets
Plant and equipment 227 (92) 135
Current assets
Cash and cash equivalents 3,806 3,514 7,320
Current liabilities
Trade and other payables - 2,304 2,304
Overview
Unutilised tax losses - 3,841 3,841
Unused capital allowances - 103 103

4,033 5,062 9,095
Recognised as
Deferred tax asset 4,033 - 9,095
18. Financial Assets and Liabilities at FVTPL
Financial assets and liabilities at fair value through profit or loss F TPL are held for trading and include the following
GROUP and COMPANY
Investor Resources
2016 2015
USD USD
Financial assets liabilities at fair value through profit or loss

Unrealised gains losses on margin trading (9,484) 8,362
Unrealised gains on margin trading at 1 January 8,362 13,527

Unrealised loss on margin trading during the year note 8 (17,846) (5,165)
Financial assets (liabilities) at fair value through profit or loss at 31 December (9,484) 8,362
In order to reduce currency e posure, the group hedges its foreign currency position via Fore spot trading see note 26.3 .
The group classifies financial assets and liabilities at fair value through profit or loss if they are ac uired principally for the
purpose of selling in the short term, ie. held for trading. They are presented as current assets and liabilities if they are e pected to
be settled within 12 months after the end of the reporting period otherwise they are presented as non-current assets and
liabilities. The group has not elected to designate any financial assets and liabilities at fair value through profit or loss.
Changes in the fair values of assets and liabilities at fair value through profit or loss are recorded under finance income, other
financial items and net gains on margin trading in note 8.

19. Cash and Cash Equivalents
Cash and cash e uivalents include the following components
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Fixed deposits 689,785 1,239,206 476,663 908,986

Demand deposits with banks and deposit accounts
with financial institutions 17,894,326 16,830,065 9,746,264 10,932,892
Cash and cash equivalents in the statements of

financial position and statements of cash flows 18,584,111 18,069,271 10,222,927 11,841,878
Overview
These are allocated as follows

GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
wn funds 14,134,818 14,186,970 10,222,927 11,841,898

Trading clients monies 4,449,293 3,882,301 - -
18,584,111 18,069,271 10,222,927 11,841,878
Included in cash and cash e uivalents are term deposits which are available for the group s and company s short-term cash
re uirements and can be converted to known amounts of cash with insignificant risk of change in value. The carrying amounts of
these assets appro imate their fair value.
Investor Resources
The group had fi ed deposits amounting to USD 445,978 in 2015 with fi ed interest rates between 1.9% and 3.30% with terms
varying from of 90 - 365 days.
In 2015, the company had a fi ed deposit amounting to USD 366,861 or AUD 500,000 million with a fi ed interest rate of 1.9% with
a term of 90 days.
These fi ed deposits had early withdrawal provisions and is withdrawable upon notice. This however was subject to a penalty,
which is a reduction in the rate of interest, which was unlikely to be significant. The intention of management was to keep these
funds available for short-term cash needs.
Cash and cash e uivalents of the group and company include deposits of USD 687,009 and USD 476,663 2015 USD793,228 and
USD 542,125 , respectively, which are used as security deposits for merchant services and an amount of USD 72,150 and USD
12,301 2015 USD 71,443 and USD 23,799 related to credit card payments of the group and company, respectively, and thus not
available for general use.
The group and company also has an amount of USD 24,670 2015 USD 34,062 representing margin re uirements relating to the
group and company s margin trading as of the end of the reporting date and thus not available for general use see note 18 .
Deposit accounts of the group and company held with financial institutions include an amount of USD 140,652 at 31 December
2016 2015 IL relating to balances held as reserves and not available for general use.

20. Share Capital
The share capital of Binary Limited consists entirely of fully paid ordinary shares with a par value of USD 0.001 each. All shares
are e ually eligible to receive dividends and the repayment of capital and represent one vote at the shareholders meeting of
Binary Limited.
GROUP and COMPANY
2016 2015
USD o. USD o.
Shares authorised at 31 December

200,000,000,000 ordinary shares of USD 0.001 each 200,000,000 200,000,000
Shares issued and fully paid
Overview
At the beginning of the year 21,426 21,425,746 21,426 21,425,746
Cancelled during the year (400) (400,003) - -

At 31 December 21,026 21,025,743 21,426 21,425,746
Cancellation of shares – 31 December 2016

n 9 June 2016, the company, through an e traordinary resolution, purchased 400,003 of its own shares in accordance with
the company s articles of association and subse uently cancelled these shares. The shares have a nominal value of USD
0.0001 each and was purchased by the company for a total consideration of USD 1.15 million.
21. Reserves
Other Reserves
Investor
Investor Resources
Exchange Compensation
Share Translation Scheme
Premium Reserve Reserve Total
GROUP USD USD USD USD
Attributable to owners of the parent

At 1 January 2016 3,498,385 40,685 948 3,540,018
E change differences arising on translation of foreign operations - 85,514 - 85,514
Cancellation of own shares 1,149,600 - - 1,149,600
At 31 December 2016 2,348,785 (44,829) 948 2,304,904
Share Premium Total

COMPANY USD USD
Attributable to owners of the parent

At 1 January 2016 3,498,385 3,498,385
Cancellation of own shares 1,149,600 1,149,600
At 31 December 2016 2,348,785 2,348,785


22. Retained Earnings
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
At 1 January 5,223,550 8,696,732 5,511,546 8,852,587

Profit for the year 13,856,851 10,454,501 14,201,350 10,585,694
Transfers - 948 - -
Dividends (note) (11,984,673) (13,926,735) (11,984,673) (13,926,735)
Overview
At 31 December 7,095,728 5,223,550 7,728,223 5,511,546
Attributable to
wners of parent 7,098,238 5,223,550 7,728,223 5,511,546

on-controlling interest (2,510) - - -
7,095,728 5,223,550 7,728,223 5,511,546
ote Dividends
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Interim dividend paid 3,994,891 6,427,724 3,994,891 6,427,724

Dividends declared 7,989,782 7,499,011 7,989,782 7,499,011
11,984,673 13,926,735 11,984,673 13,926,735
Investor Resources
In respect of the current year, the directors declared and approved a dividend of 38 cents 2015 35 cents per share to be paid to
the shareholders, of which USD 1,509,054 was paid during the year. In addition, an interim dividend of 19 cents 2015 30 cents
per share was declared, approved and paid during the year.
The movement in reserves is set out on note 21 to the consolidated financial statements.

23. Derivative Financial Instruments
GROUP
2016 2015
USD USD
Financial liability at fair value through profit or loss

- Binary options contracts 58,764 60,491
Liability for open contracts at 1 January 60,491 124,311

et movement during the year (27,163) (43,324)
Overview
Unrealised fair value loss gain 28,434 (13,320)
Unrealised gain on e change (2,998) (7,176)
Fair value of derivative liability at 31 December 58,764 60,491

Unrealised gain on e change on derivative financial instruments is reported in profit or loss within other financial items
see note 8 .
24. Trade and Other Payables
GROUP COMPANY
2016 2015 2016 2015

NOTE USD USD USD USD
Financial liabilities
Investor Resources
Clients' monies 4,449,293 3,882,301 - -
Trade payables 270,320 395,877 6,941 5,442
Capital creditors 36,750 - 36,750 -
Accruals 803,722 378,938 19,208 23,007
Amount payable to a related company - 303 - 303
Amount payable to director 1,129 - 1,129 -
Dividend payable 22 6,480,728 7,499,011 6,480,728 7,499,011
Other creditors 1,584 24,436 - -
Amounts owed to subsidiaries - - 5,428,502 3,183,386
Trade and other payables 12,043,526 12,180,866 11,973,258 10,711,149
The amount payable to a related parties and amounts owed to subsidiary undertakings are unsecured, interest free and repayable
on demand. The carrying value of financial liabilities is considered a reasonable appro imation of fair value.

25. Related Party Transactions
Binary Limited is the parent company of the Binary group of companies. Binary Limited is 75.06% 2015 73.66% owned by J S
B I Ltd.
Trading Transactions
The company s related parties include all companies forming part of the Binary group of companies as these companies are all
ultimately commonly owned and key management personnel and other companies are under common control. Trading
transactions between these companies would typically include recharging of e penses, service charges and other such items
which are normally encountered in a group conte t.
All related party transactions were undertaken on normal commercial terms and in the ordinary course of the group s business.
Unless otherwise stated, none of these transactions incorporate special terms and conditions and no guarantee was given or
Overview
received. Transactions with related companies are generally effected on a cost plus basis. utstanding balances are usually
settled in cash. Amounts owed by to related parties are shown separately in notes 16 and 24. All transactions and balances
between group companies have been eliminated upon consolidation.

Related party transactions are disclosed below.
25.1 Transactions with Subsidiaries
COMPANY
2016 2015
USD USD
Accounting, webhosting, design and customer services fees rendered by subsidiaries 7,027,788 4,776,092
E penses recharged to subsidiaries 711,833 1,088,739
Affiliate commissions payments on behalf of parent company 45,068 758,962
Payments made to clients on behalf of subsidiaries 5,854,791 4,569,652
Investor Resources
Client deposits received on behalf of subsidiaries 23,448,823 18,861,411
Transfers of funds to subsidiaries 5,420,103 3,755,810
Transfers of funds received from subsidiaries 1,305,715 1,520,947
Payments made by subsidiaries on behalf of parent company 1,758,591 33,034
Shop sales commission 2,959 -
25.2 Transaction with Companies Under Common Control
GROUP and COMPANY

2016 2015
USD USD
Service fees charged by related companies under common control 60,141 36,591

25.3 Transactions with Key Management Personnel
The group s and company s key management personnel are considered to be the directors. ne of the directors of the
company is the sole shareholder of J S B I Ltd. J S B I Ltd is the ultimate owner of the group and has 75.06% controlling
interest in Binary Limited.
The movement in director s loan during the year was as follows
GROUP and COMPANY

2016 2015
NOTES USD USD
At the beginning of the year 36 -
Overview
Net movement (1,165) 36
At the end of the year 16, 24 (1,129) 36

Key management remuneration includes the following e penses
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Short term employee benefits
Salaries including bonuses 805,064 775,720 - 160,000
Social security costs 31,922 13,774 - -
Total remuneration 836,986 789,494 - 160,000
Investor Resources
GROUP COMPANY
2016 2015 2016 2015
USD USD USD USD
Services rendered by a director - 10,156 - -
A subsidiary company obtained services from one of its directors during 2015 to be its anti-money laundering officer. The
services were billed based on normal market rates. The amount was fully paid as at 31 December 2015. The director service
was terminated on 31 December 2015. o services were rendered by any director during 2016.

25.4 Change in Immediate Holding Company
The corporate structure of the group was flattened by distributing shares of Binary Limited as a dividend in specie to
shareholders of Binary Holdings Ltd as of 8 June 2015. As a result of this e ercise, J S B I Ltd became the majority
shareholder of Binary Limited, with 73.66% shareholding in the company. Conse uently, J S B I Ltd became the ultimate
parent company of the group as of 31 December 2015. Following the buy back of its own shares and subse uent cancellation
thereof during 2016 see note 20 , the shareholding of J S B I Ltd in the group increased to 75.06% as of 31 December
2016.
26. Risk Management Objectives and Policies
Overview
The group and the company are e posed to credit risk, li uidity risk and market risk through their use of financial instruments which
result from their operating, investing and financing activities. The group s risk management is coordinated by the directors and
focuses on actively securing the group s short to medium term cash flows by minimising the e posure to financial risks. The

company s and group s financial assets and liabilities by category are summarised in note 26.4. The main types of risks are market
risk, credit risk and li uidity risk.
The group s risk management is coordinated at its head uarters, in close cooperation with the board of directors, and focuses on
actively securing the company s and the group s short to medium-term cash flows by minimising the e posure to financial
markets.
The most significant financial risks to which the company and group are e posed are described below.
26.1 Credit Risk Analysis
Credit risk is the risk that a counterparty fails to discharge on obligation to the company and group. The company and group
are e posed to this risk for various financial instruments, for e ample by granting loans and receivables, placing deposits etc.
Investor Resources
The company s and group s ma imum e posure to credit risk is limited to the carrying amount of financial assets recognised
at the end of the reporting period, as summarised below
GROUP COMPANY
2016 2015 2016 2015
Classes of financial assets

- carrying amounts
Loans and receivables
- Receivables 16 16,430 36 6,066,948 4,244,905
- Cash and cash equivalents 19 18,584,111 18,069,271 10,222,927 11,841,878
Financial assets at F TPL

- Unrealised gains on margin trading 18 - 8,362 - 8,362
18,600,541 18,077,669 16,289,875 16,095,145


In respect of loans and receivables, the group and the company are not exposed to any significant credit risk exposure to any
single counterparty or any group of counterparties having similar characteristics. No credit risk is associated with the
amounts due from related companies since these are credit worthy counterparties. In view of this, management considers
that all amounts receivable are fully recoverable and not impaired.
Management considers that all the above financial assets that are not impaired for each of the reporting dates under review
are of good credit quality. None of the group’s and company’s receivables are past due.
None of the group’s and the company’s financial assets is secured by collateral or other credit enhancements.
The credit risk for liquid funds and financial assets at FVTPL is considered limited since the counterparties are banks and
other financial institutions with high credit-ratings assigned by international credit rating agencies.
Overview
26.2 Liquidity Risk Analysis
The group's and company’s exposure to liquidity risk arises from its obligations to meet its financial liabilities, which

comprise principally of trade and other payables, dividends payable and amounts owed to related parties (see note 24).
Prudent liquidity risk management includes maintaining sufficient cash and committed credit facilities to ensure the
availability of an adequate amount of funding to meet the group's and company’s obligations when they become due.
The group and company manage their liquidity needs through yearly cash flow forecasts by carefully monitoring expected
cash inflows and outflows on a frequent basis. The group's and company’s liquidity risk is not deemed to be significant in
view of the matching of cash inflows and outflows arising from expected maturities of financial instruments, as well as the
group's and company’s committed borrowing facilities that it can access to meet liquidity needs.
The group's and company’s financial liabilities at the reporting dates under review are all short term and their contractual
maturities fall within one year.
26.3 Market Risk
Investor Resources
Foreign Currency Risk
The group's revenue, purchases and operating expenditure and financing are mainly denominated in USD (United States
dollar), EUR (euro), AUD (Australian dollar) and GBP (Great Britain pound). The group and company are exposed to foreign
exchange risk in respect of certain activities which are denominated in GBP, AUD, EUR and HKD.
The group enters into any hedging positions to mitigate certain exposures to foreign currency risk arising from EUR, GBP and
AUD denominated transactions.

Foreign currency denominated financial assets and liabilities, translated into USD as at the end of the reporting periods under
review, are as follows:
Short term exposure

GBP AUD EUR HKD
GROUP USD USD USD USD
At 31 December 2016
Financial assets 965,922 1,019,467 2,299,528 5,262,857
Financial liabilities (906,307) (879,411) (454,059) -
Exposure 59,615 140,056 1,845,469 5,262,857
Overview
Hedged (129,980) (148,351) (1,815,140) (1,861,512)
Total exposure (70,365) (8,295) 30,329 3,401,345

At 31 December 2015
Financial assets 1,686,863 1,697,124 789,204 5,265,820
Financial liabilities (1,020,526) (1,176,154) (259,949) -
Exposure 666,337 520,970 529,255 5,265,820

Hedged (600,181) (524,045) (542,845) -
Total exposure 66,156 (3,075) (13,590) 5,265,820
Short term exposure
GBP AUD EUR HKD
COMPANY USD USD USD USD
Investor Resources
At 31 December 2016
Financial assets 392,739 983,123 972,907 2,949,179
Financial liabilities (1,318) - - -
Exposure 391,421 983,123 972,907 2,949,179

Hedged (129,980) (148,351) (1,815,140) (1,861,512)
Total exposure 261,441 834,772 (842,233) 1,087,637
At 31 December 2015
Financial assets 702,723 1,611,560 348,588 2,949,179
Financial liabilities - - - -
Exposure 702,723 1,611,560 348,588 2,949,179

Hedged (600,181) (524,045) (542,845) -
Total exposure 102,542 1,087,515 (194,257) 2,949,179


The following table illustrates the sensitivity of results in regards to the group’s and the company’s financial assets and
liabilities and the GBP/USD, AUD/USD, HKD/USD and EUR/USD exchange rates, all other things being equal.
It assumes a +/- 1.57% (2015: +/- 5%) change of the GBP/USD exchange rate, a +/- 0.17% (2015: +/- 11%) change is
considered for the AUD/USD exchange rate, a +/- 0.004% (2015: +/- 0.08%) change is considered for the HKD/USD exchange
rate and a +/- 0.29% (2015: +/- 10%) change for the EUR/USD exchange rate. These percentages have been determined
based on the average market volatility in exchange rates in the previous 12 months. The sensitivity analysis is based on the
company’s and group’s foreign currency financial instruments at the end of the reporting year.
If the GBP/USD exchange rate changed by +/- 1.57% (2015: +/- 5%), the AUD/USD exchange rate changed by +/- 0.17%
(2015: +/- 11%), the HKD/USD exchange rate changed by +/- 0.004% (2015: +/- 0.08%) , and the EUR/USD exchange rate
changed by +/- 0.29% (2015: +/- 10%), the impact on results would be as follows:
Overview
GROUP Profit for the year
GBP AUD HKD EUR

USD USD USD USD
At 31 December 2016 +/- 1,105 +/- 14 +/- 89 +/- 136

At 31 December 2015 +/- 3,202 +/- 338 +/- 4,213 +/- 1,359
COMPANY Profit for the year
GBP AUD HKD EUR
USD USD USD USD
At 31 December 2016 +/- 4,100 +/- 1,400 +/- 2,400 +/- NIL
Investor Resources
At 31 December 2015 +/- 4,963 +/- 119,627 +/- 2,359 +/- 19,426
Exposures to foreign exchange rates vary during the year depending on the volume of transactions in foreign currencies.
Nonetheless, the analysis above is considered to be representative of the company’s and group’s exposure to currency risk.
Interest Rate Risk

The company and group are not exposed to interest rate risk since they do not have any interest bearing borrowings. Interest
exposure on its financial assets bearing variable interest rates is not considered to be significant.

26.4 Summary of Financial Assets and Liabilities by Category
Note 4.14 provides a description of each category of financial assets and liabilities and related accounting policies. The
carrying amounts presented in the statement of financial position relate to the following categories of assets and liabilities:
GROUP COMPANY
2016 2015 2016 2015
Classes of financial assets:
Non-current
Loans and receivables:
Overview
- Receivables 16 - - 1,700,000 1,700,000
Current

Financial assets at FVTPL:
- Unrealised gains on margin trading 18 - 8,362 - 8,362
Loans and receivables:
- Receivables 16 16,430 36 4,366,948 2,544,369
- Cash and cash equivalents 19 18,584,111 18,069,271 10,222,927 11,841,878
18,600,541 18,077,669 16,289,875 16,094,609
Classes of financial liabilities:
Current
Financial liabilities at FVTPL:
- Unrealised gains on margin trading 18 9,484 - 9,484 -
- Derivative financial instruments 23 58,764 60,491 - -
Financial liabilities measured at amortised cost:
Investor Resources
- Trade and other payables 24 12,043,526 12,180,866 11,973,258 10,711,149
12,111,774 12,241,357 11,982,742 10,711,149
26.5 Financial Instruments Measured at Fair Value
Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three
levels of fair value hierarchy. This grouping is determined based on the lowest level of significant inputs used in fair value
measurement, as follows:
Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
Level 2
either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level 3 Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The hierarchy of the fair value measurement of the company’s and group’s financial assets and financial
liabilities are as follows:
GROUP
LEVEL 1 LEVEL 2 LEVEL 3
USD USD USD
31 DECEMBER 2016
-
Overview
Derivative financial instruments 58,764 -
Unrealised losses on margin trading - 9,484 -
31 DECEMBER 2015

Financial assets
Unrealised gains on margin trading - 8,362 -
Derivative financial instruments - 60,491 -
COMPANY
LEVEL 1 LEVEL 2 LEVEL 3
Investor Resources
USD USD USD
31 DECEMBER 2016
Unrealised losses on margin trading - 9,484 -
31 DECEMBER 2015
Financial assets
Unrealised gains on margin trading - 8,362 -


Measurement of Fair Value
Management performs valuations on financial items for financial reporting purposes. Valuation techniques are selected
based on the characteristics of each instrument, with the overall objective of maximising the use of market-based
information.
UNREALISED GAINS AND LOSSES ON MARGIN TRADING (LEVEL 2)
The company’s and group’s financial instruments relating to margin trading are not traded in active markets. These
have been fair valued using observable forward exchange rates corresponding to the maturity of the contract. The
effects of unobservable inputs are deemed to be insignificant for these financial instruments.
Overview
DERIVATIVE FINANCIAL LIABILITIES (LEVEL 2)
The group’s derivative financial instruments are not traded in active markets. Fair values for the group’s derivative

contracts are determined by reference to the market prices quoted at the end of the reporting period. The valuation
techniques are supported by observable market prices or rates since variables include only data from observable
markets. The group’s derivative financial instruments are accordingly categorised as level 2 instruments.
The group and company do not hold level 1 or level 3 instruments.
As of 31 December 2016 and 2015, the carrying amounts of other financial instruments not carried at fair value, which
comprise cash and cash equivalents, receivables, trade and other payables, are reasonable estimates of fair value in view of
the nature of these instruments or are relatively short period of time between the origination of the instruments and their
expected realisation.
Investor Resources
27. Capital Management Policies and Procedures
The group's and company’s capital management objectives are to ensure its ability to continue as a going concern and to provide
an adequate return to shareholders and benefits to other stakeholders by pricing services commensurately with the level of risk,
and maintaining an optimal capital structure to reduce the cost of capital.
In relation to one of the subsidiary companies, Binary Investments (Europe) Limited, one of its capital management objectives is
to comply with the capital resources requirements required by the Malta Financial Services Authority or ‘MFSA’.
The subsidiary company is required at all times to hold capital resource requirements in compliance with the Capital
Requirements Regulation (‘CRR’). The subsidiary company’s own funds shall not fall below the amount of initial capital required
at the time of its authorisation and shall satisfy:
• a Common Equity Tier 1 capital ratio of 4.5%;
• a Tier 1 capital ratio of 6%; and
• a total capital ratio of 8% - own funds.


The group and company monitor their capital level on a regular basis. Any transaction that may potentially effect the subsidiary
company’s capital requirements are immediately reported to the directors and shareholders for resolution prior to notifying the
MFSA.
The group’s and company’s equity, as disclosed in the statement of financial position, constitutes its capital. The group and
company maintains its level of capital by reference to its financial obligations and commitments arising from operational
requirements.
The board of directors manages the group’s and the company’s capital structure and make adjustments to it, in light of changes
in economic conditions. The capital structure is reviewed on an ongoing basis. In order to maintain or adjust the capital structure,
the group may issue new shares, limit the amounts of dividends paid or sell assets to reduce debt.
By reference to the COREP returns submitted by the subsidiary company, the subsidiary company has met at all times the
Overview
minimum capital requirements imposed by the MFSA during the period ended 31 December 2016.
28. Commitments

Commitment to Binary Investments (Europe) Limited
On 21 December 2015, the board of directors approved the company’s commitment to provide a loan of USD 0.5 million to its
subsidiary, Binary Investments (Europe) Limited, in relation to the latter’s recovery plan. The loan is interest-free and will only be
repaid in part or full whilst the subsidiary company has adequate assets to repay all other creditors including clients.
In addition, the board also approved for the company to invest a further USD 0.5 million in Binary Investments (Europe) Limited to
increase the latter’s share capital to USD 1.5 million.
The above commitments will only commence should the subsidiary company initiate its recovery plan process in order to ensure
business continuity.
29. Post-reporting Date Events Investor Resources
In 2017, the company invested a total amount of JPY 69.9 million or USD 626,123 for 6,990 additional shares for a price of JPY
10,000 per share in Binary K.K. An amount of JPY 14.52 million (or USD 126,524) for 1,452 shares was made on 10 Mar 2017 and
a further amount of JPY 55.38 million (or USD 499,599) for 5,538 shares was made on 15 May 2017. Consequently, Binary Limited
holds a total of 23,000 shares in Binary K.K. as of 15 May 2017.
On 13 March 2017 Binary (MI) Ltd was dissolved.
No adjusting or other significant non-adjusting events have occured between the end of the reporting period and the date of
authorisation.

30. Rates of Exchange
The principal rates of exchange used in the preparation of these financial statements were as follows (for USD 1):
Statements of Statements of
Financial Position Comprehensive Income
2016 2015 2016 2015

USD USD USD USD
Malaysian ringgit (MYR) 4.486 4.2975 4.1356 3.9106
Overview
Japanese yen (JPY) 116.97 120.625 108.472 120.525
Australian dollar (AUD) 1.3886 1.3693 1.3473 1.3422
Euro (EUR) 0.9503 0.9210 0.9066 0.9070

Great Britain pound (GBP) 0.8109 0.6786 0.7466 0.6560
Hong Kong dollar (HKD) 7.7548 7.7506 7.7622 7.7518
Investor Resources
68 Independent Auditor’s Report | Annual Report 2016
Independent Auditor’s Report

To the shareholders of Binary Limited
Report on the audit of the separate and consolidated financial statements
Opinion
We have audited the separate financial statements of Binary Limited and the consolidated financial statements of its
group set out on pages 16 to 67 which comprise the statements of financial position as at 31 December 2016, and the
statements of comprehensive income, statements of changes in equity and statements of cash flows for the year then
ended, and notes to the financial statements, including a summary of significant accounting policies.
Overview
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the
company and of its group as at 31 December 2016, and of their financial performance and their cash flows for the

year the ended in accordance with International Financial Reporting Standards (IFRSs), and have been properly
prepared in accordance with the requirements of the Companies (Jersey) Law, 1991 (the “Law”).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under
those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of the company and of its group in accordance with the International Ethics
Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) together with the ethical
requirements of the Accountancy Profession (Code of Ethics for Warrant Holders) Directive issued in terms of the
Accountancy Profession Act, Cap. 281 that are relevant to our audit of the financial statements in Malta. We have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
Investor Resources
have obtained is sufficient and appropriate to provide a basis for our opinion.
Other information
The directors are responsible for the other information. The other information comprises the Directors’ report and the
statement of their responsibilities on pages 14 to 15 and other information on the annual report shown on pages 1 to
13 and 71 to 74 which we obtained prior to the date of this auditor’s report, but does not include the financial
statements and our auditor’s report thereon.
Our opinion on the financial statements does not cover the other information.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated.

Responsibilities of those charged with governance for the financial statements
The directors are responsible for the preparation of financial statements that give a true and fair view in accordance
with IFRS and are properly prepared in accordance with the provisions of the Law, and for such internal control as the
directors determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group’s and company’s ability to
continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern
basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no
Overview
realistic alternative but to do so.
The directors are responsible for overseeing the company’s and the group’s financial reporting process.

Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with the ISAs, we exercise professional judgement and maintain professional
scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
Investor Resources
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud
is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
company’s and group’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the company’s and group’s ability to continue as a going concern. If we conclude that a material

uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However future events or conditions may cause the
company and the group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.
Overview
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify

during our audit.
Report on other legal and regulatory requirements
We also have responsibilities under the Companies (Jersey) Law, 1991 to report to you if, in our opinion:
• adequate accounting records have not been kept.

• proper returns adequate for the audit have not been received from branches/subsidiaries not visited by us.
• the financial statements are not in agreement with the accounting records.
• we have not received all the information and explanations we require for our audit.
We have nothing to report to you in respect of these responsibilities.
The engagement partner on the audit resulting in this independent auditor’s report is (name)
Investor Resources
Mark Bugeja (Partner) for and on behalf of
GRANT THORNTON
Certified Public Accountants
Tower Business Centre, Suite 3

Tower Street, Swatar BKR 4013
Malta
31 May 2017
71 Five-Year Summary | Annual Report 2016
INVESTOR RESOURCES
Five-Year Summary
REVENUE (in USD ’m) GROSS PROFIT (in USD ’m)
847.59
762.55
22.31
462.64 454.29
16.92
12.54
Overview
11.08
201.33
6.18

2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
COMPREHENSIVE INCOME (in USD ’m) RETURN ON EQUITY (in %)
147
13.77
119
Investor Resources
10.45
7.72
63
5.71 55
40
3.16
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
72 Five-Year Summary | Annual Report 2016
INVESTOR RESOURCES
Five-Year Summary
NUMBER OF NEW CLIENTS NUMBER OF ACTIVE CLIENTS
76,173
52,422
51,888 70,303
30,915
25,725 46,693
40,525
11,639
Overview
21,592

2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
Investor Resources
73 Dividend Policy & History | Annual Report 2016
INVESTOR RESOURCES
Dividend Policy & History

The Group adopts a dividend policy with a full-year dividend payout ratio of at least 50% of the financial year earnings attributable
to shareholders. The full year dividend of USD 11,984,673 translates to a dividend payout ratio of 86%. This is above the dividend
policy ratio of at least 50%.
DIVIDEND PER SHARE (in cents)
70 65
57
Overview
50
28
30

15
11
10
2012 2013 2014 2015 2016
DIVIDEND PAYOUT RATIO (in %)
Investor Resources
140 133
100
86
75 78
60 56
2012 2013 2014 2015 2016

74 Global Offices | Annual Report 2016
INVESTOR RESOURCES
Global Offices
Japan
Germany
Binary K.K.
Binary Group Services Sdn. Bhd. Hiroo Miyata Bldg 3F, 9-16,
Zweigstelle Berlin, Hiroo 1-chome, Shibuya-ku,
Friedrichstraße 68, 10117 Berlin Tokyo, 150-0012
Phone +81 3 6277 3915
Overview
Malaysia - Selangor
Malta Binary Group Services Sdn. Bhd.
Binary (Europe) Limited C-13-02, iTech Tower,
Mompalao Building, Suite 2, Jalan Impact, Cyber 6,

Tower Road, Msida MSD1825 63000 Cyberjaya,
Phone +356 2131 6105 Selangor Darul Ehsan
Phone +603 8322 8178
Malaysia - Kuala Lumpur

Binary Group Services Sdn. Bhd.
30-10, Q Sentral, Jalan Stesen Sentral 2,
50470 Kuala Lumpur
Investor Resources
Kuala Lumpur, Malaysia
Tokyo, Japan
Selangor, Malaysia Msida, Malta

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Annual Report 2016

Strategy and Sustainability

Strategy and Sustainability

Strategy and Sustainability

Strategy and Sustainability

Tom Molesworth Rakshit Choudhary

Strategy and Sustainability

Strategy and Sustainability

Learn and improve, day in and day out.

We care for the health and well-being of our colleagues,

IT Initiatives Description Strategic Objectives

Improvement in website stability.

Strategy and Sustainability

Downtime PLATFORM UPTIME

Key Performance Indicators

REVENUE (In USD ’m) GROSS PROFIT (In USD ’m)

Strategy and Sustainability

2015 2016 2015 2016

2015 2016 2015 2016

Strategy and Sustainability

Cash Flow Position

Strategy and Sustainability

STRATEGY AND SUSTAINABILITY

Strategy and Sustainability

to relevant jurisdictions’ laws and regulations. applications.

identiﬁcation of high-risk clients. patches.

Regular and on-going user education on the importance of

Regular and on-going risk assessment on AML vulnerability Regulatory compliance

position of the group. environment.

requirements. regulatory environment, act amendments, circulars,

STRATEGY AND SUSTAINABILITY

Shelter Home’s Shelter Community Learning Centre 3

Languages Classes for Refugees (LCFR)

Strategy and Sustainability

James Mellon (resigned on 3 March 2017)

INCORPORATION DATE 15 October 1999

47 Esplanade, St. Helier, Jersey,

Crestbridge Corporate Services Ltd

Review of the business

Dividend and reserves

Strategy and Sustainability

Jean-Yves Christian Sireau Joanna Frendo

Statement of Directors’ Responsibilities

Strategy and Sustainability

Statements of Comprehensive Income

2016 2015 2016 2015

Revenues 5 847,593,746 762,552,025 - -

Strategy and Sustainability

Proﬁt before tax 9 14,317,200 10,613,534 14,201,350 10,585,694

Proﬁt for the year 13,856,851 10,454,501 14,201,350 10,585,694

Other comprehensive loss

13,856,851 10,454,501 14,201,350 10,585,694

Total comprehensive income attributable to:

13,771,337 10,453,675 14,201,350 10,585,694

Earnings per share

Statements of Financial Position

2,637,308 2,216,027 6,937,128 4,848,036

Strategy and Sustainability

19,519,599 18,974,046 15,143,648 14,894,470

TOTAL ASSETS 22,156,907 21,190,073 22,080,776 19,742,506

Total equity 9,421,659 8,784,994 10,098,034 9,031,357

Total liabilities 12,735,248 12,405,079 11,982,742 10,711,149