1. Haute Couture Fashion Berhad HCF, listed in Bursa Malaysia, decided to expand operation to China, and maintain current factories operations to create own brand name to ensure the long-term survival of Haute Couture Fashion Berhad. The Board of Director is calling a Board of Director meeting for discussion of a Joint Venture arrangement to expand operation to China, based on profit sharing of 70% Celestial Clothes and 30% Haute Couture Fashion Berhad via a New Entity. a) Discuss four (4) strengths for Haute Couture Fashion Berhad to negotiate with Celestial Clothes to have 50%:50% profit sharing in this New Entity? [4 marks] b) If they can achieve 50%:50% profit sharing agreement, what are the strategic plans for HCF to make consolidation to increase group revenue under IFRS 10 or IFRS 11? [6 marks]