Table of Contents 1 292

2019 UEM Edgenta Annual Report

EDGENTA ANNUAL REPORT 2019 1
Table of Contents 14
INTRODUCTION 16
About this Report 16
2019 Key Highlights 18
UEM EDGENTA AT A GLANCE 20
Overview of UEM Edgenta 20
Who We Are & Where We Operate 20
Organisation Structure 22
Corporate Structure 24
Corporate Information 25
Our Business Divisions 26
Our Technology Solutions 28
Our Business Model 30
Key Relationships 32
MESSAGE FROM OUR LEADERSHIP 35
Chairman’s Statement 35
MD/CEO’s Statement 38
CFO’s Review 42
Key Performance Indicators 44
Five-Year Group Financial Highlights 44
Five-Year Group Financial Summary 45
2019 Group Quarterly Performance 47
Group Statement of Value Added 48
STRATEGIC FOCUS 49
Group Strategy 49
Our Market Landscape 51
Material Issues 52
Key Risks and Opportunities 53
OPERATIONAL REVIEW 57
Healthcare Support 58
Property & Facility Solutions 60
Infrastructure Services 62
Asset Consultancy 64
SUSTAINABILITY EFFORTS 66
Sustainability Statement 66
Our Approach to Sustainability 66
ECONOMIC 70
ENVIRONMENTAL 78
SOCIAL 80
CORPORATE GOVERNANCE 86
Board of Director’s Profile 86
Key Senior Management’s Profile 98
Corporate Governance Overview Statement 104
Robust and Transparent Governance 104
BOARD LEADERSHIP & EFFECTIVENESS 106
EFFECTIVE AUDIT & RISK MANAGEMENT 113
Audit and Risk Committee Report 113
INTEGRITY IN CORPORATE REPORTING & MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS 116
Investor Relations 116
Additional Compliance Information 120
Statement on Risk Management and Internal Control 121
FINANCIAL REVIEW 132
FINANCIAL STATEMENTS 132
Directors’ Report 133
Statement By Directors 138
Statutory Declaration 138
Independent Auditors’ Report 139
Income Statements 144
Statements of Comprehensive Income 145
Statements of Financial Position 146
Statements of Changes in Equity 150
Statements of Cash Flows 153
Notes to the Financial Statements 155
1. CORPORATE INFORMATION 155
2. SIGNIFICANT ACCOUNTING POLICIES 155
3. REVENUE 186
4. COST OF SALES 186
5. OTHER INCOME 187
6. FINANCE COSTS 187
7. PROFIT BEFORE TAX 188
8. EMPLOYEE BENEFITS EXPENSE 189
9. DIRECTORS’ REMUNERATION 190
10. INCOME TAX EXPENSE/(BENEFIT) 191
11. EARNINGS PER SHARE 194
12. DIVIDENDS 195
13. PROPERTY, PLANT AND EQUIPMENT 196
14. LAND HELD FOR PROPERTY DEVELOPMENT 199
15. PREPAID LAND LEASE PAYMENTS 200
16. INTANGIBLE ASSETS 201
17. INVESTMENT IN SUBSIDIARIES 205
18. INVESTMENT IN ASSOCIATES 211
19. OTHER INVESTMENTS 213
20. INVENTORIES 213
21. TRADE AND OTHER RECEIVABLES 214
22. CONTRACT RELATED ASSETS AND LIABILITIES 219
23. SHORT TERM INVESTMENTS 220
24. CASH, BANK BALANCES AND DEPOSITS 220
25. ASSET HELD FOR SALE 221
26. RETIREMENT BENEFIT OBLIGATIONS 221
27. DEFINED BENEFIT PENSION PLAN 224
28. PROVISIONS 226
29. BORROWINGS 227
30. FINANCE LEASES 230
31. TRADE AND OTHER PAYABLES 231
32. DEFERRED TAX 234
33. SHARE CAPITAL AND SHARE PREMIUM 236
34. CAPITAL AND OTHER MERGER RESERVE 237
35. OTHER RESERVES 237
36. RETAINED EARNINGS 238
37. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES 239
38. CAPITAL COMMITMENTS 241
39. PERFORMANCE BONDS AND GUARANTEES 241
40. RELATED PARTY DISCLOSURES 242
41. FINANCIAL INSTRUMENTS 244
42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 247
43. CAPITAL MANAGEMENT 254
44. SEGMENT INFORMATION 254
45. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES 264
ADDITIONAL INFORMATION 271
Analysis of Shareholdings 271
Properties held by the Group 273
Recurrent Related Party Transactions 275
GLOSSARY 289
GROUP DIRECTORY 291

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