EXCEL FORCE MSC BERHAD Annual Report 2020

ANNUAL REPORT 2020	1
NOTICE OF ANNUAL GENERAL MEETING	4
FIVE-YEAR FINANCIAL HIGHLIGHTS	6
CORPORATE INFORMATION	9
CHAIRMAN’S STATEMENT	10
MANAGEMENT DISCUSSION AND ANALYSIS	11
BOARD OF DIRECTORS’ PROFILE	14
KEY SENIOR MANAGEMENT PROFILE	17
SUSTAINABILITY STATEMENT	20
CORPORATE GOVERNANCE OVERVIEW STATEMENT	23
AUDIT COMMITTEE REPORT	34
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL	37
ADDITIONAL COMPLIANCE INFORMATION	41
DIRECTORS’ REPORT	43
STATEMENT BY DIRECTORS	48
INDEPENDENT AUDITORS’ REPORT	49
STATEMENTS OF FINANCIAL POSITION	52
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	53
STATEMENTS OF CHANGES IN EQUITY	55
STATEMENTS OF CASH FLOWS	59
NOTES TO THE FINANCIAL STATEMENTS	61
CORPORATE INFORMATION	61
BASIS OF PREPARATION	61
SIGNIFICANT ACCOUNTING POLICIES	66
PROPERTY, PLANT AND EQUIPMENT	81
CAPITAL WORK-IN-PROGRESS	85
RIGHT-OF-USE ASSETS	85
PRODUCT DEVELOPMENT COSTS	87
INTANGIBLE ASSETS	88
INVESTMENT IN SUBSIDIARY COMPANIES	88
OTHER INVESTMENTS	89
INVENTORIES	90
TRADE RECEIVABLES	90
OTHER RECEIVABLES	92
AMOUNT DUE FROM SUBSIDIARY COMPANIES	93
DEPOSITS, BANK AND CASH BALANCES AND SHORT-TERM FUNDS	93
SHARE CAPITAL	94
RESERVES	94
TREASURY SHARES	95
LEASE LIABILITIES	96
TRADE PAYABLES	96
OTHER PAYABLES	97
CONTRACT LIABILITIES	97
REVENUE	97
COST OF SALES	99
FINANCE COST	99
PROFIT BEFORE TAX	100
TAXATION	100
DEFERRED TAXATION	101
EARNINGS PER SHARE	103
DIVIDENDS	104
STAFF COSTS	104
RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES	105
RELATED PARTY DISCLOSURES	106
SEGMENT INFORMATION	107
FINANCIAL INSTRUMENTS	111
CAPITAL MANAGEMENT	120
CAPITAL COMMITMENT	121
SIGNIFICANT EVENT	121
DATE OF AUTHORISATION FOR ISSUE	121
LIST OF PROPERTIES	122
ANALYSIS OF SHAREHOLDINGS	123
FORM OF PROXY	126

Made with FlippingBook

RkJQdWJsaXNoZXIy NDgzMzc=