MISC Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 323 MISC BERHAD ANNUAL REPORT 2018 322 36. SEGMENT INFORMATION (CONT'D.) (a) Business segments (cont'd.) Note A Inter-segment revenues and transactions are eliminated on consolidation. B Other assets comprise the following items: 2018 RM'000 2017 RM'000 Other property, plant and equipment 1,888,890 1,757,311 Prepaid lease payments on land and buildings 212,988 220,128 Investment in associates 482 528 Other non-current financial assets 244,614 237,747 Deferred tax assets 104,379 99,484 Inventories 250,030 198,592 Trade and other receivables 3,949,200 4,161,775 Cash, deposits and bank balances 5,755,604 5,900,724 Derivative assets 8,185 7,734 Tax recoverable 14,549 14,642 12,428,921 12,598,665 C Other liabilities comprise the following items: 2018 RM'000 2017 RM'000 Trade and other payables 2,000,588 2,234,627 Deferred tax liabilities 32,418 31,142 Derivative liabilities 5,836 - Deferred income 612,421 635,377 2,651,263 2,901,146 36. SEGMENT INFORMATION (CONT'D.) (b) Geographical segments Although the Group's four major business segments are managed on a worldwide basis, they operate in five principal geographical areas of the world. In Malaysia, its home country, the Group's areas of operation comprise LNG, Petroleum, Offshore, Heavy Engineering and others. The following table provides an analysis of the Group's revenue and carrying amount of assets by geographical segments: Malaysia RM'000 The Americas RM'000 Asia, Africa and Europe RM'000 Consolidated RM'000 31 December 2018 Revenue 4,469,127 4,311,089 59 8,780,275 Assets 44,000,897 8,063,830 573 52,065,300 31 December 2017 Revenue 5,562,342 4,505,254 616 10,068,212 Assets 42,885,005 7,584,164 634 50,469,803 (c) Information about major customers Breakdown of revenue from major customers are as follows: 2018 RM'000 2017 RM'000 Fellow Subsidiaries: - Petronas LNG Sdn. Bhd. 1,109,087 799,649 - Malaysia LNG Sdn. Bhd. 938,008 1,301,225 - Petronas Carigali Sdn. Bhd. 591,107 367,806 2,638,202 2,468,680 Third Parties: - Sabah Shell Petroleum Company Limited 538,054 898,817 - CITGO Petroleum Corporation 374,240 252,788 - VALERO Group 237,877 216,305 - KOCH Petroleum 237,474 - - Royal Dutch Shell PLC 230,103 246,428 - Marine Well Containment Company 222,602 234,708 - Unipec America, Inc 195,263 - - Reliance Industries Limited 188,363 - - SeaRiver Maritime 184,187 - - Statoil ASA 177,678 187,047 - British Petroleum 146,657 265,884 - Petrofac (Malaysia) Limited 94,137 188,776 - Yemen LNG Company Ltd 92,626 172,977 2,919,261 2,663,730