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MSM Malaysia Holdings Berhad Annual Report 2021

ANNUAL INTEGRATED REPORT 2021 1
INSIDE THIS REPORT 3
ABOUT THIS REPORT 4
WHO WE ARE 8
CORPORATE PROFILE 10
OUR MISSION, VISION & CORE VALUES 12
OUR PRESENCE 14
OUR VALUE CHAIN 16
MARKET LANDSCAPE 18
MSM PRODUCTS 21
OUR CORPORATE DETAILS 24
OUR GROUP STRUCTURE 25
OUR ORGANISATIONAL STRUCTURE 26
OUR ACHIEVEMENTS 28
2021 KEY EVENT HIGHLIGHTS 30
MSM IN THE NEWS 36
5-YEAR FINANCIAL HIGHLIGHTS 42
STATEMENT OF FINANCIAL POSITION 43
QUARTERLY FINANCIAL PERFORMANCE 44
STATEMENT OF VALUE ADDED 45
SEGMENTAL HIGHLIGHTS 46
SALES HIGHLIGHTS 47
STATEMENT & DISCUSSION BY OUR LEADERS 48
CHAIRMAN’S ADDRESS 50
IN CONVERSATION WITH OUR GROUP CHIEF EXECUTIVE OFFICER 58
GROUP FINANCIAL REVIEW 70
CORPORATE STRATEGY AND BUSINESS PLAN REVIEW 72
KEY CHALLENGES & MITIGATIONS 76
GROUP BUSINESS REVIEW 78
RAW SUGAR SOURCING & PROCUREMENT 78
OPERATIONAL & REFINING 82
COMMERCIAL & DOWNSTREAM 86
SUPPLY CHAIN 90
HOW WE OPERATE 94
OUR BUSINESS MODEL 96
MATERIALITY ASSESSMENT PROCESS 98
STAKEHOLDERS ENGAGEMENT 104
INVESTOR RELATIONS WITH A DIFFERENCE 110
FINANCIAL CALENDAR 117
SUSTAINABILITY JOURNEY 118
BOARD STATEMENT ON SUSTAINABILITY 120
OUR SUSTAINABILITY COMMITMENT 124
OUR SUSTAINABILITY GOVERNANCE 128
OUR WAY FORWARD IN OUR SUSTAINABILITY JOURNEY 130
ENVIRONMENT INITIATIVES 132
SOCIAL INITIATIVES 144
GOVERNANCE INITIATIVES 177
HOW WE ARE GOVERNED 184
BOARD OF DIRECTORS DIVERSITY 186
PROFILE OF DIRECTORS 188
PROFILE OF COMPANY SECRETARY 197
EXECUTIVE COMMITTEE AT A GLANCE 198
PROFILE OF EXECUTIVE COMMITTEE 200
PROFILE OF HEADS OF OPERATIONS 207
CORPORATE GOVERNANCE OVERVIEW STATEMENT 210
AUDIT, GOVERNANCE AND RISK COMMITTEE REPORT 231
NOMINATION AND REMUNERATION COMMITTEE REPORT 238
INVESTMENT AND TENDER COMMITTEE REPORT 247
ADDITIONAL COMPLIANCE INFORMATION 249
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 253
FINANCIAL STATEMENTS 266
STATEMENT ON DIRECTORS’ RESPONSIBILITIES 267
DIRECTORS’ REPORT 268
STATEMENT BY DIRECTORS 272
STATUTORY DECLARATION 272
INDEPENDENT AUDITORS’ REPORT 273
STATEMENTS OF COMPREHENSIVE INCOME 278
STATEMENTS OF FINANCIAL POSITION 280
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 282
COMPANY STATEMENT OF CHANGES IN EQUITY 283
STATEMENTS OF CASH FLOWS 284
NOTES TO THE FINANCIAL STATEMENTS 288
ADDITIONAL INFORMATION 372
ANALYSIS OF SHAREHOLDINGS 374
SUMMARY OF PROPERTIES LEASED 377
LIST OF TOP 10 PROPERTIES OWNED 378
NOTICE OF ANNUAL GENERAL MEETING 380
STATEMENT ACCOMPANYING NOTICE OF THE 11TH ANNUAL GENERAL MEETING 390
ADMINISTRATIVE GUIDE 391
PROXY FORM 397

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