Table of Contents 1 190

GHL System Berhad Annual Report 2020

Annual Report 2020 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 32
KEY SENIOR MANAGEMENTS’ PROFILE 37
CORPORATE DIRECTORY 41
CORPORATE GOVERNANCE OVERVIEW STATEMENT 43
AUDIT AND RISK COMMITTEE REPORT 50
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 56
OTHER STATEMENTS AND DISCLOSURES 62
DIRECTORS’ REPORT 64
STATEMENT BY DIRECTORS 71
STATUTORY DECLARATION 71
INDEPENDENT AUDITORS’ REPORT 72
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 77
STATEMENTS OF FINANCIAL POSITION 79
STATEMENTS OF CHANGES IN EQUITY 81
STATEMENTS OF CASH FLOWS 85
NOTES TO THE FINANCIAL STATEMENTS 88
1. CORPORATE INFORMATION 88
2. PRINCIPAL ACTIVITIES 88
3. BASIS OF PREPARATION 88
4. OPERATING SEGMENTS 88
5. REVENUE 92
6. PROFIT BEFORE TAX 96
7. EMPLOYEE BENEFITS 97
8. DIRECTORS’ REMUNERATION 97
9. TAXATION 97
10. EARNINGS PER SHARE 99
11. DIVIDENDS 100
12. PROPERTY, PLANT AND EQUIPMENT 101
13. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES 108
14. INTANGIBLE ASSETS 115
15. GOODWILL 117
16. INVESTMENTS IN SUBSIDIARIES 119
17. INVESTMENTS IN JOINT VENTURES AND AN ASSOCIATE 131
18. DEFERRED TAX 133
19. INVENTORIES 137
20. TRADE AND OTHER RECEIVABLES 138
21. OTHER INVESTMENTS 144
22. CASH AND BANK BALANCES 146
23. SHARE CAPITAL 148
24. RESERVES 152
25. BORROWINGS 153
26. TRADE AND OTHER PAYABLES 156
27. DERIVATIVE 158
28. EMPLOYEE BENEFITS OBLIGATIONS 159
29. CONTRACT LIABILITIES 161
30. CONTINGENT LIABILITIES 162
31. CAPITAL COMMITMENTS 162
32. RELATED PARTIES DISCLOSURES 163
33. CAPITAL AND FINANCIAL RISK MANAGEMENT 164
34. MATERIAL LITIGATION 167
35. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 168
36. FINANCIAL REPORTING UPDATES 168
37. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 169
LIST OF PROPERTIES 170
ANALYSIS OF SHAREHOLDINGS 171
NOTICE OF TWENTY-SEVENTH ANNUAL GENERAL MEETING 174
STATEMENT TO SHAREHOLDERS 180
PROXY FORM 188

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