Table of Contents 1 179

PRG Holdings Berhad Annual Report 2018

CORPORATE PROFILE 4
PRG VALUES 5
CORPORATE INFORMATION 6
CORPORATE STRUCTURE 8
GROUP FINANCIAL HIGHLIGHTS 10
CHAIRMAN’S STATEMENT 12
GROUP MANAGING DIRECTOR’S MANAGEMENT DISCUSSION AND ANALYSIS 16
PRG IN THE NEWS 22
PRG EVENTS 24
BOARD OF DIRECTORS 26
DIRECTORS’ PROFILE 28
MANAGEMENT TEAM 34
SUSTAINABILITY REPORT 37
CORPORATE GOVERNANCE OVERVIEW STATEMENT 44
DIRECTORS’ RESPONSIBILITIES STATEMENT 48
ADDITIONAL COMPLIANCE INFORMATION 49
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 50
REPORT OF THE AUDIT COMMITTEE 54
REPORT OF THE REMUNERATION COMMITTEE 57
REPORT OF THE NOMINATION COMMITTEE 59
DIRECTORS’ REPORT 62
STATEMENT BY DIRECTORS 68
STATUTORY DECLARATION 68
INDEPENDENT AUDITORS’ REPORT 68
STATEMENTS OF FINANCIAL POSITION 73
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 76
STATEMENT OF CHANGES IN EQUITY 77
STATEMENT OF CASH FLOWS 81
NOTES TO THE FINANCIAL STATEMENTS 83
CORPORATE INFORMATION 83
PRINCIPAL ACTIVITIES 83
BASIS OF PREPARATION 83
SIGNIFICANT ACCOUNTING POLICIES 83
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 100
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 109
PROPERTY, PLANT AND EQUIPMENT 110
INTANGIBLE ASSETS 113
INVESTMENTS IN SUBSIDIARIES 114
INVESTMENTS IN ASSOCIATES 124
INVESTMENTS IN JOINT VENTURES 126
DEFERRED TAX (ASSETS)/LIABILITIES 129
TRADE AND OTHER RECEIVABLES 130
CONTRACT ASSETS/(LIABILITIES) 134
INVENTORIES 135
PROPERTY DEVELOPMENT COSTS 135
CASH AND BANK BALANCES 136
SHARE CAPITAL AND TREASURY SHARES 138
RESERVES 139
BORROWINGS 140
TRADE AND OTHER PAYABLES 142
COMMITMENTS 144
CONTINGENT LIABILITIES 145
REVENUE 145
(LOSS)/PROFIT BEFORE TAX 147
TAX EXPENSE 148
(LOSS)/EARNINGS PER ORDINARY SHARE 149
DIVIDENDS 150
EMPLOYEE BENEFITS 150
RELATED PARTY DISCLOSURES 151
OPERATING SEGMENTS 153
FINANCIAL INSTRUMENTS 157
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 159
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 165
SIGNIFICANT EVENTS SUBSEQUENT TO THE END OF THE REPORTING PERIOD 165
LIST OF GROUP PROPERTIES 166
ANALYSIS OF SHAREHOLDINGS 168
ANALYSIS OF WARRANTS HOLDINGS 170
NOTICE OF EIGHTEENTH ANNUAL GENERAL MEETING 172

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