MISC Annual Report 2019

35. 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: 2019 2018 RM’000 RM’000 Other property, plant and equipment 2,228,917 1,888,890 Prepaid lease payments on land and buildings 219,843 212,988 Investment in associates 482 482 Other non-current financial assets 225,903 244,614 Deferred tax assets 103,499 104,379 Inventories 165,731 250,030 Trade and other receivables 3,930,705 3,949,200 Cash, deposits and bank balances 7,030,814 5,755,604 Derivative assets – 8,185 Tax recoverable – 14,549 13,905,894 12,428,921 C Other liabilities comprise the following items: 2019 2018 RM’000 RM’000 Trade and other payables 2,186,588 2,000,588 Provision for taxation 14,165 – Deferred tax liabilities 30,907 32,418 Derivative liabilities 159,920 5,836 Deferred income 566,324 612,421 2,957,904 2,651,263 35. 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: Asia, The Africa and Malaysia Americas Europe Consolidated RM’000 RM’000 RM’000 RM’000 31 December 2019 Revenue 4,659,323 4,302,936 465 8,962,724 Assets 43,358,316 8,504,938 541 51,863,795 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 (c) Information about major customers Breakdown of revenue from major customers are as follows: 2019 2018 RM’000 RM’000 Fellow subsidiaries: - Petronas LNG Sdn. Bhd. 1,088,252 1,109,087 - Malaysia LNG Sdn. Bhd. 951,989 938,008 - Petronas Carigali Sdn. Bhd. 603,609 591,107 2,643,850 2,638,202 Third Parties: - Sabah Shell Petroleum Company Limited 521,418 538,054 - Royal Dutch Shell PLC 381,495 230,103 - KOCH Petroleum 257,160 237,474 - Statoil ASA 232,820 177,678 - Marine Well Containment Company 232,663 222,602 - Petroleo Brasileiro Sa 222,457 160,160 - PBF Energy 201,965 171,709 - VALERO Group 186,631 237,877 - SINOPEC 181,663 195,263 - British Petroleum 180,031 146,657 2,598,303 2,317,577 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 342 343