Table of Contents 1 190

GHL System Berhad Annual Report 2019

Annual Report 2019 1
TABLE OF CONTENT 2
VISION AND MISSION 3
CORPORATE PROFILE 4
CORPORATE STRUCTURE 5
CORPORATE INFORMATION 7
FINANCIAL HIGHLIGHTS 10
KEY PERFORMANCE INDICATORS 11
MANAGEMENT DISCUSSION AND ANALYSIS 12
SUSTAINABILITY STATEMENT 20
DIRECTORS’ PROFILE 38
KEY SENIOR MANAGEMENTS’ PROFILE 43
CORPORATE DIRECTORY 46
CORPORATE GOVERNANCE OVERVIEW STATEMENT 48
AUDIT AND RISK COMMITTEE REPORT 57
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 62
OTHER STATEMENTS AND DISCLOSURE 68
FINANCIAL STATEMENT 70
DIRECTORS’ REPORT 70
STATEMENT BY DIRECTORS 77
STATUTORY DECLARATION 77
INDEPENDENT AUDITORS’ REPORT 78
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 83
STATEMENTS OF FINANCIAL POSITION 84
STATEMENTS OF CHANGES IN EQUITY 86
STATEMENTS OF CASH FLOWS 90
NOTES TO THE FINANCIAL STATEMENTS 93
1. CORPORATE INFORMATION 93
2. PRINCIPAL ACTIVITIES 93
3. BASIS OF PREPARATION 93
4. OPERATING SEGMENTS 93
5. REVENUE 96
6. PROFIT BEFORE TAX 99
7. EMPLOYEE BENEFITS 100
8. DIRECTORS’ REMUNERATION 100
9. TAXATION 101
10. EARNINGS PER SHARE 102
11. DIVIDENDS 103
12. PROPERTY, PLANT AND EQUIPMENT 104
13. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES 110
14. INTANGIBLE ASSETS 115
15. GOODWILL 117
16. INVESTMENTS IN SUBSIDIARIES 119
17. INVESTMENTS IN JOINT VENTURES AND AN ASSOCIATE 132
18. DEFERRED TAX 134
19. INVENTORIES 138
20. TRADE AND OTHER RECEIVABLES 139
21. OTHER INVESTMENTS 145
22. CASH AND BANK BALANCES 146
23. SHARE CAPITAL 148
24. RESERVES 152
25. BORROWINGS 153
26. HIRE PURCHASE CREDITORS 157
27. TRADE AND OTHER PAYABLES 158
28. EMPLOYEE BENEFITS OBLIGATIONS 160
29. CONTRACT LIABILITIES 162
30. CONTINGENT LIABILITIES 163
31. COMMITMENTS 164
32. RELATED PARTIES DISCLOSURES 164
33. CAPITAL AND FINANCIAL RISK MANAGEMENT 166
34. MATERIAL LITIGATION 168
35. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 169
36. FINANCIAL REPORTING UPDATES 172
37. SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD 172
38. COMPARATIVES FIGURES 172
LIST OF PROPERTIES 173
ANALYSIS OF SHAREHOLDINGS 174
NOTICE OF TWENTY-SIXTH ANNUAL GENERAL MEETING 177
STATEMENT TO SHAREHOLDERS 182
PROXY FORM 188

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