Table of Contents 1 203

PRG Holdings Berhad Annual Report 2019

CORPORATE PROFILE 4
PRG VALUES 5
CORPORATE INFORMATION 6
CORPORATE STRUCTURE 8
GROUP FINANCIAL HIGHLIGHTS 10
CHAIRMAN’S STATEMENT 12
MANAGEMENT DISCUSSION AND ANALYSIS 16
PRG IN THE NEWS 22
PRG EVENTS 24
DIRECTORS’ PROFILE 26
MANAGEMENT TEAM 33
SUSTAINABILITY REPORT 37
CORPORATE GOVERNANCE OVERVIEW STATEMENT 45
DIRECTORS’ RESPONSIBLITIES STATEMENT 53
ADDITIONAL COMPLIANCE INFORMATION 54
STATEMENT ON RISK MANAGEMENTAND INTERNAL CONTROL 55
REPORT OF THE AUDIT ANDRISK MANAGEMENT COMMITTEE 59
DIRECTORS’ REPORT 64
STATEMENT BY DIRECTORS 70
STATUTORY DECLARATION 70
INDEPENDENT AUDITORS’ REPORT 71
STATEMENTS OF FINANCIAL POSITION 76
STATEMENTS OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME 78
STATEMENTS OF CHANGES IN EQUITY 81
STATEMENTS OF CASH FLOWS 85
NOTES TO THE FINANCIAL STATEMENTS 89
CORPORATE INFORMATION 89
PRINCIPAL ACTIVITIES 89
BASIS OF PREPARATION 89
SIGNIFICANT ACCOUNTING POLICIES 89
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 110
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 113
PROPERTY, PLANT AND EQUIPMENT 114
RIGHT-OF-USE ASSETS 117
INTANGIBLE ASSETS 118
INVESTMENTS IN SUBSIDIARIES 120
INVESTMENTS IN ASSOCIATES 131
INVESTMENTS IN JOINT VENTURES 135
OTHER INVESTMENTS 138
DEFERRED TAX (ASSETS)/LIABILITIES 139
TRADE AND OTHER RECEIVABLES 141
CONTRACT ASSETS/(LIABILITIES) 146
INVENTORIES 148
PROPERTY DEVELOPMENT COSTS 149
BIOLOGICAL ASSETS 150
CASH AND BANK BALANCES 151
SHARE CAPITAL AND TREASURY SHARES 153
RESERVES 155
BORROWINGS 156
TRADE AND OTHER PAYABLES 158
LEASE LIABILITIES 160
DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE 162
COMMITMENTS 166
CONTINGENT LIABILITIES 167
REVENUE 168
(LOSS)/PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 169
TAX EXPENSE 170
(LOSS)/EARNINGS PER ORDINARY SHARE 172
EMPLOYEE BENEFITS 172
RELATED PARTY DISCLOSURES 173
OPERATING SEGMENTS 176
FINANCIAL INSTRUMENTS 181
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 184
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 190
SIGNIFICANT EVENTS SUBSEQUENT TO THE END OF THE REPORTING PERIOD 192
LIST OF GROUP PROPERTIES 194
ANALYSIS OF SHAREHOLDINGS 196
NOTICE OF NINETEENTH ANNUAL GENERAL MEETING 198

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