MISC Annual Report 2019

dominated global headlines. We couldn’t help but ask ourselves whether our strategies for 2019 were at risk, being upended by the violent swings in the global markets. The solution? Nothing beats going back to long-term economic and industrial fundamentals. YEE YANG CHIEN President/Group CEO Dear Valued Shareholders, To many, 2019 has been a very chaotic and unpredictable year. It was challenging to say the least, given the volatile global geopolitical climate that threatened economic growth. For us at MISC, I am proud that we have enjoyed another fulfilling year. Tailwinds still blew strongly, enabling us to deliver our commitment of investment growth while upholding operational excellence. growth President/Group CEO’s Review RM1,929.3 million Operating Profit 31.6% RM5,579.1 million Net Cash Flows from Operations 36.1% 32.0 sen FY2019 Earnings Per Share FY2018 29.4 sen In my message last year, I had expressed our readiness to step up our presence in the international arena and compete and win against established players globally. I had expressed our belief that a tailwind would carry us in our pursuit of greater growth opportunities into 2019. The confidence that we harboured going into 2019 was premised on our success in securing close to USD900 million worth of new investments in assets with long-term income streams in 2018, despite a challenging economic climate for the world in general. We had expected and prepared ourselves for an equally volatile and challenging 2019. Even then, I have to admit that the unpredictable turn of geopolitical events had caught us off guard. We were caught up and sometimes befuddled by the constantly shifting issues that building a virtuous cycle of Reflections of 2019 19 18 THE YEAR IN REVIEW MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019