Table of Contents 1 237

Chemical Company of Malaysia Berhad Annual Report 2019

ANNUAL REPORT 2019 1
CONTENT 3
BUSINESS OVERVIEW 4
AT A GLANCE 6
CORPORATE INFORMATION 8
FINANCIAL REVIEW 9
FINANCIAL HIGHLIGHTS 10
GROUP FINANCIAL RATIOS 11
CHAIRMAN’S STATEMENT 12
GROUP MANAGING DIRECTOR’S MANAGEMENT DISCUSSION AND ANALYSIS 20
SUSTAINABILITY STATEMENT 32
KEY HIGHLIGHTS 44
GOVERNANCE 48
GROUP STRUCTURE 50
BOARD AND MANAGEMENT STRUCTURE 52
BOARD OF DIRECTORS 54
SENIOR MANAGEMENT 65
CORPORATE GOVERNANCE OVERVIEW STATEMENT 70
REPORT OF THE AUDIT AND COMPLIANCE COMMITTEE 92
REPORT OF THE NOMINATION AND REMUNERATION COMMITTEE 96
REPORT OF THE RISK MANAGEMENT COMMITTEE 98
REPORT OF THE FINANCE AND INVESTMENT COMMITTEE 102
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 104
OTHER DISCLOSURES 110
FINANCIAL STATEMENTS 112
FINANCIAL STATEMENTS 112
DIRECTORS’ REPORT 114
STATEMENTS OF FINANCIAL POSITION 118
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 120
STATEMENTS OF CHANGES IN EQUITY 122
STATEMENTS OF CASH FLOWS 127
NOTES TO THE FINANCIAL STATEMENTS 132
1. Basis of preparation 132
2. Significant accounting policies 134
3. Property, plant and equipment 153
4. Right-of-use assets 157
5. Investment properties 159
6. Intangible assets 162
7. Investments in subsidiaries 163
8. Investment in an associate 166
9. Deferred tax (assets)/liabilities 168
10. Other investment 171
11. Trade and other receivables 171
12. Inventories 172
13. Cash and cash equivalents 172
14. Assets classified as held for sale 172
15. Capital and reserves 173
16. Loans and borrowings 174
17. Trade and other payables 176
18. Revenue 176
19. Finance costs 179
20. Tax expense/(income) 179
21. Profit for the year 181
22. Earnings per ordinary share 183
23. Dividends 184
24. Operating segments 185
25. Financial instruments 188
26. Capital management 207
27. Capital and other commitments 207
28. Related parties 208
29. Key management personnel compensation 209
30. Significant changes in accounting policies 209
STATEMENT BY DIRECTORS 212
STATUTORY DECLARATION 213
INDEPENDENT AUDITORS’ REPORT 214
OTHER INFORMATION 218
ANALYSIS OF SHAREHOLDINGS 220
LIST OF PROPERTIES 223
NOTICE OF ANNUAL GENERAL MEETING 223
STATEMENT ACCOMPANYING THE NOTICE OF FIFTY-EIGHT (58TH) AGM OF CHEMICAL COMPANY OFMALAYSIA BERHAD 229
ADMINISTRATIVE GUIDE 230
PROXY FORM 235

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