MSM Malaysia Holdings Berhad Annual Report 2019

3 5 8 4 6 9 7 MANAGEMENT DISCUSSION & ANALYSIS 21 Strategic Review 21 Group Chief Executive Officer Review 24 MSM Strategy 26 Key Risks & Mitigations 28 Stakeholders Engagement 29 Global Presence 30 Market Landscape 31 GROUP FINANCIAL REVIEW 33 BUSINESS Review 33 Raw Sugar Sourcing & Procurement 34 Raw Sugar Refining 36 Sales & Marketing 38 Supply Chain Management & Distribution 40 Plantation GROUP FINANCIAL REPORT 41 5-Year Financial Summary 42 Statement of Financial Position 43 Quarterly Financial Performance 43 Statement of Value Added 44 Segmental Analysis 45 Sales Analysis 46 Investor Relations 47 Financial Calendar SUSTAINABILITY REPORT 48 Our Sweet EES Journey 49 Economic Sustainability 51 Environmental Sustainability 54 Social Sustainability EFFECTIVE LEADERSHIP 63 Profile of Directors 66 Profile of Company Secretary 67 Profile of Senior Management CORPORATE GOVERNANCE 70 Corporate Governance Overview Statement 83 Audit Committee Report 89 Nomination and Remuneration Committee Report 95 Additional Compliance Information 96 Corporate Integrity 98 Statement on Risk Management and Internal Control 103 Internal Policies, Procedures and Guidelines 104 Business Continuity Management FINANCIAL STATEMENTS 105 Statement on Directors’ Responsibilities 106 Directors’ Report 110 Statement by Directors 110 Statutory Declaration 111 Independent Auditors’ Report 116 Statements of Comprehensive Income 118 Statements of Financial Position 120 Consolidated Statement of Changes in Equity 121 Company Statement of Changes in Equity 122 Statements of Cash Flows 127 Notes to the Financial Statements ADDITIONAL INFORMATION 225 Analysis of Shareholdings 228 Summary of Properties Owned 231 Summary of Properties Leased 232 List of Top 10 Properties Owned 233 Group Corporate Directory