Table of Contents 1 207

PRG Holdings Berhad Annual Report 2020

Untitled 1
PRG Values 4
Corporate Information 6
Corporate Structure 8
Group Financial Highlights 10
Chairman’s Statement 12
Management Discussion and Analysis 16
Directors’ Profile 22
Management Team 28
Sustainability Report 31
Corporate Governance Overview Statement 40
Directors’ Responsibilities Statement 48
Additional Compliance Information 49
Statement On Risk Management and Internal Control 50
Report of The Audit and Risk Management Committee 54
Directors’ Report 60
Statement by Directors 66
Independent Auditors’ Report 67
Statements of Financial Position 72
Statements of Profit or Loss and Other Comprehensive Income 74
Statements of Changes In Equity 77
Statements of Cash Flows 80
Notes to the Financial Statements 84
CORPORATE INFORMATION 84
PRINCIPAL ACTIVITIES 84
BASIS OF PREPARATION 84
SIGNIFICANT ACCOUNTING POLICIES 84
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 104
FINANCIAL REPORTING UPDATES 106
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 106
PROPERTY, PLANT AND EQUIPMENT 108
RIGHT-OF-USE ASSETS 110
INTANGIBLE ASSETS 112
INVESTMENTS IN SUBSIDIARIES 115
INVESTMENTS IN ASSOCIATES 130
INVESTMENTS IN JOINT VENTURES 134
OTHER INVESTMENTS 137
DEFERRED TAX (ASSETS)/LIABILITIES 138
TRADE AND OTHER RECEIVABLES 140
CONTRACT ASSETS/(LIABILITIES) 145
INVENTORIES 147
PROPERTY DEVELOPMENT COSTS 147
BIOLOGICAL ASSETS 149
CASH AND BANK BALANCES 150
BANK BALANCES HELD ON BEHALF OF CLIENTS 151
SHARE CAPITAL AND TREASURY SHARES 152
RESERVES 153
BORROWINGS 154
TRADE AND OTHER PAYABLES 155
LEASE LIABILITIES 158
DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE 160
COMMITMENTS 164
CONTINGENT LIABILITIES 165
REVENUE 165
LOSS BEFORE TAX FROM CONTINUING OPERATIONS 167
TAXATION 168
(LOSS)/EARNINGS PER ORDINARY SHARE 170
EMPLOYEE BENEFITS 170
RELATED PARTY DISCLOSURES 171
OPERATING SEGMENTS 173
FINANCIAL INSTRUMENTS 180
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 182
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 190
SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD 192
List of Group Properties 193
Analysis of Shareholdings 195
Notice of Twentieth Annual General Meeting 197
Administrative Guide for the Twentieth (“20th”) 202
FORM OF PROXY 205

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