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PRG Holdings Berhad Annual Report 2021

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 29
Sustainability Report 32
Corporate Governance Overview Statement 42
Directors’ Responsibilities Statement 52
Additional Compliance Information 53
Statement On Risk Management and Internal Control 54
Report of The Audit and Risk Management Committee 58
Directors’ Report 64
Statement By Directors 70
Independent Auditors’ Report 71
Statements Of Financial Position 76
Statements of Profit or Loss and Other Comprehensive Income 79
Statements of Changes In Equity 82
Statements of Cash Flows 87
Notes to the Financial Statements 91
CORPORATE INFORMATION 91
PRINCIPAL ACTIVITIES 91
BASIS OF PREPARATION 91
SIGNIFICANT ACCOUNTING POLICIES 91
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 113
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 114
PROPERTY, PLANT AND EQUIPMENT 116
RIGHT-OF-USE ASSETS 118
INTANGIBLE ASSETS 120
INVESTMENTS IN SUBSIDIARIES 122
INVESTMENTS IN ASSOCIATES 134
INVESTMENT IN A JOINT VENTURE 138
OTHER INVESTMENT 140
DEFERRED TAX (ASSETS)/LIABILITIES 141
TRADE AND OTHER RECEIVABLES 143
CONTRACT ASSETS/(LIABILITIES) 148
INVENTORIES 150
PROPERTY DEVELOPMENT COSTS 150
BIOLOGICAL ASSETS 151
CASH AND BANK BALANCES 153
BANK BALANCES HELD ON BEHALF OF CLIENTS 154
SHARE CAPITAL AND TREASURY SHARES 155
RESERVES 155
BORROWINGS 156
TRADE AND OTHER PAYABLES 158
LEASE LIABILITIES 160
DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE 163
COMMITMENTS 165
CONTINGENT LIABILITIES 165
REVENUE 166
PROFIT/(LOSS) BEFORE TAX 167
TAXATION 169
(LOSS)/EARNINGS PER ORDINARY SHARE 171
EMPLOYEE BENEFITS 172
RELATED PARTY DISCLOSURES 172
OPERATING SEGMENTS 175
FINANCIAL INSTRUMENTS 182
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 184
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 192
IFRIC Agenda Decision - Over time transfer of constructed good (“IAS 23”) 193
List of Group Properties 197
Analysis of Shareholdings 199
NOTICE OF TWENTY-FIRSTANNUAL GENERAL MEETING 201
Notice of Twenty-First Annual General Meeting 201
Administrative Guide for the Twenty-first(“21st”) Annual General Meeting 205
FORM OF PROXY 209

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