MSM Malaysia Holdings Berhad Annual Report 2021

INSIDE THIS REPORT pg. 8 - 45 pg. 48 - 91 pg. 94 - 115 ABOUT THIS REPORT WHOWE ARE 8 Corporate Profile 10 Our Mission, Vision & Core Values 12 Our Presence 14 Our Value Chain 16 Market Landscape 19 MSM Products 22 Our Corporate Details 23 Our Group Structure 24 Our Organisational Structure 26 Our Achievements 28 2021 Key Event Highlights 34 MSM in the News 40 5-Year Financial Highlights 41 Statement of Financial Position 42 Quarterly Financial Performance 43 Statement of Value Added 44 Segmental Highlights 45 Sales Highlights STATEMENT & DISCUSSION BY OUR LEADERS 48 Chairman’s Address 56 In Conversation with Our Group Chief Executive Officer 66 Group Financial Review 70 Corporate Strategy and Business Plan Review 74 Key Challenges & Mitigations 76 Group Business Review 76 Raw Sugar Sourcing & Procurement 80 Operational & Refining 84 Commercial & Downstream 88 Supply Chain HOWWE OPERATE 94 Our Business Model 96 Materiality Assessment Process 102 Stakeholders Engagement 108 Investor Relations with a Difference 115 Financial Calendar SUSTAINABILITY JOURNEY 118 Board Statement on Sustainability 122 Our Sustainability Commitment 124 Our Sustainability Governance 128 Our Way Forward in Our Sustainability Journey 130 Environment Initiatives 142 Social Initiatives 175 Governance Initiatives HOWWE ARE GOVERNED 184 Board of Directors Diversity 186 Profile of Directors 195 Profile of Company Secretary 196 Executive Committee at a Glance 198 Profile of Executive Committee 205 Profile of Heads of Operations 208 Corporate Governance Overview Statement 229 Audit, Governance and Risk Committee Report 236 Nomination and Remuneration Committee Report 245 Investment and Tender Committee Report 247 Additional Compliance Information 251 Statement on Risk Management and Internal Control FINANCIAL STATEMENTS 265 Statement on Directors’ Responsibilities 266 Directors’ Report 270 Statement by Directors 270 Statutory Declaration 271 Independent Auditors’ Report 276 Statements of Comprehensive Income 278 Statements of Financial Position 280 Consolidated Statement of Changes in Equity 281 Company Statement of Changes in Equity 282 Statements of Cash Flows 286 Notes to the Financial Statements ADDITIONAL INFORMATION 372 Analysis of Shareholdings 375 Summary of Properties Leased 376 List of Top 10 Properties Owned 378 Notice of Annual General Meeting 388 Statement Accompanying Notice of the 11th Annual General Meeting 389 Administrative Guide Proxy Form pg. 118 - 181 pg. 184 - 263 pg. 265 - 369 pg. 372 - 394

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