Thank You, Shareholders It has been five years since we became UEM Edgenta. In our journey since then, we have together established the company as the region’s leading Asset Management & Infrastructure Solutions provider today, and we thank you for your confidence and loyalty as esteemed shareholders. Our results in 2019 powers our endurance to continue delivering sustainable growth and we hope you will continue with us on our journey in the years to come. We look forward to seeing you at the 57th Annual General Meeting. The cover of our Annual Report this year symbolises our theme of Orchestrating Innovation, reflecting the innovative solutions our businesses are anchored on. It displays our abstract expression on how we are continuously driven to engineer quality, smarter solutions. These solutions have been enabled by harnessing technology to provide world-class, tailored services for our clients, in order to deliver sustainable growth. Laying the foundation for this is our Edgenta Way, which is our promise to go above and beyond in delivering world-class standards, whether we are creating opportunities, generating assets or providing services and solutions. We pride ourselves in pushing boundaries, challenging the status quo and breaking conventions to harmonise state-of-the art technologies and innovation in all our different operations, establishing us as the leading Asset Management & Infrastructure Solutions company in the region.
Bespoke Tech-Enabled Solutions UEM Edgenta’s technology-enabled solutions are built on the innovative mindsets and capabilities of our people, that drive our operational excellence initiatives. We pioneer scalable solutions to future-proof and positively impact our operations and the business of our clients, to meet their growing needs.
Safety is a non-negotiable priority at UEM Edgenta. Our safety practitioners continue to spearhead efforts to ensure our stakeholders always operate within the highest standards of safety. Among the workforce, our mantra of ‘think safe, work safe and be safe’, resonates across the different businesses in our aim to achieve Goal Zero. Excellence inHealth, Safety, Security and Environment
The Edgenta Way supports us to deliver quality outcomes and exceed stakeholder expectations in the course of delivering our responsibilities and solutions. At UEM Edgenta, we build trust with our clients to create impact and better results, providing assurance and peace of mind to our clients. Quality Assurance
We established the Edgenta Academy to institutionalise standards in the Asset Management & Infrastructure Solutions sector. Our partnership with leading accrediting organisations will spur immense capacity and capabilities among our workforce and steer the industries to greater heights. Certified Standards
The vision of UEM Edgenta’s future will be built on our people’s innovative mindset and culture to pioneer new technology-based solutions. We are driven to engineer a path which will allow us to leapfrog and create the right impact in realising global triple-bottom line goals for tomorrow’s generation, on the back of sustainable corporate values and practices. Edgenta of the Future
Table of Contents UEM EDGENTA AT A GLANCE 18 Overview of UEM Edgenta • Who We Are & Where We Operate • Organisation Structure • Corporate Structure • Corporate Information • Our Business Divisions • Our Technology Solutions 28 Our Business Model 30 Key Relationships MESSAGE FROM OUR LEADERSHIP 33 Chairman’s Statement 36 MD/CEO’s Statement 40 CFO’s Review 42 Key Performance Indicators • Five-Year Group Financial Highlights • Five-Year Group Financial Summary 45 2019 Group Quarterly Performance 46 Group Statement of Value Added STRATEGIC FOCUS 47 Group Strategy 49 Our Market Landscape 50 Material Issues 51 Key Risks and Opportunities INTRODUCTION 14 About this Report 16 2019 Key Highlights OPERATIONAL REVIEW 56 Healthcare Support 58 Property & Facility Solutions 60 Infrastructure Services 62 Asset Consultancy SUSTAINABILITY EFFORTS 64 Sustainability Statement • Our Approach to Sustainability • Economic • Environmental • Social p. 33 Chairman’s Statement p. 18 Overview of UEM Edgenta p. 55 Operational Review p. 64 Sustainability Statement This annual report is available on the website at uemedgenta.com To contact us, please refer to page 23 for Corporate Information and on the inside back cover for Group Directory Optimising Assets to Improve Lives Vision Our services, commitment to smarter thinking and improved solutions place us at the forefront of the industry. We create opportunities for clients and assets that positively influence society. Mission We are an enterprising entity that embraces teamwork, integrity and passion with a focus on success. Values We are creative, resourceful and take calculated risk on all initiatives. We take full ownership and accountability. Enterprising We trust, respect, complement and support each other. We demand from each other to be better. Teamwork We love what we do and we put our heart and soul into it. We go beyond the call of duty to deliver our best. Passion We continuously learn and celebrate our achievements. We win, together. Success We ensure high safety standards and practices. We practice the highest ethical standards in everything we do. Integrity CORPORATE GOVERNANCE 84 Board of Directors’ Profile 96 Key Senior Management’s Profile 102 Corporate Governance Overview Statement • Robust and Transparent Governance • Board Leadership & Effectiveness • Effective Audit & Risk Management - Audit and Risk Committee Report • Integrity in Corporate Reporting & Meaningful Relationship with Stakeholders - Investor Relations 118 Additional Compliance Information 119 Statement on Risk Management and Internal Control FINANCIAL REVIEW 130 Financial Statements GLOSSARY GROUP DIRECTORY ADDITIONAL INFORMATION 269 Analysis of Shareholdings 271 Properties Held by the Group 273 Recurrent Related Party Transactions Scan this QR Code to download our Annual Report 2019 p. 130 Financial Review
14 15 Annual Report 2019 UEM Edgenta Berhad MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS UEM EDGENTA AT A GLANCE INTRODUCTION About this Report At UEM Edgenta Berhad (“UEM Edgenta”), we are proud to continue our journey in Integrated Reporting with our third Integrated Annual Report this year. In recognising long-term investors’ need for transparency and accountability, this report presents detailed insights into our Group’s performance in 2019 and outlook for 2020. As we seek to provide a comprehensive view of our business, this report covers our financial and non-financial performance, strategies, initiatives and outcomes to communicate the sustainable value we deliver to all our stakeholders. We have also applied global best practices in preparing this report to ensure fair and complete reporting of our performance, governance and prospects. This report should be read together with additional disclosures for our stakeholders, which we have made available online. These include consolidated and separate financial statements. Unless otherwise indicated, the content of this report includes data and activities of UEM Edgenta and our subsidiaries (“Group”) from 1 January 2019 to 31 December 2019. SCOPE AND BOUNDARY Corporate Section Financial Section Contents - Detailed disclosures on UEM Edgenta Group, our business strategies and sustainability performance based on the issues identified as material to the Group and our stakeholders - Provides a comprehensive assessment of the Group’s performance for 2019 and outlook for 2020 - Provides the full set of the Group and Company’s audited financial statements Regulations Complied - Companies Act 2016 - Bursa Malaysia Main Market Listing Requirements - Malaysian Code on Corporate Governance 2017 - Adopts Bursa Malaysia’s Sustainability Reporting Guide & Toolkits - Guided by the International Integrated Reporting Council’s framework for integrated reporting and the Global Reporting Initiative’s Standards for Sustainability Reporting - Bursa Malaysia Securities Berhad Main Market Listing Requirements - Malaysian Financial Reporting Standards (“MFRS”) - International Financial Reporting Standards (“IFRS”) - Requirements of the Companies Act 2016 in Malaysia FORWARD-LOOKING STATEMENTS This report may contain expressed or implied forward-looking statements, which the Group expects or believes in good faith and on a reasonable basis. However, such forward-looking statements are subject to risks, uncertainties and other factors which could materially affect actual results and cause these to differ from the future results expressed, projected or implied in the forward-looking statements. These risks include, but are not limited to, currency fluctuations, commodity price volatility, an increase in production costs, political and operational risks in each of the countries the Group is present, legal and regulatory risks. The Group does not provide guarantees or warranties on the certainty of the forward-looking statements and is not obligated to publicly revise the statements to reflect actual circumstances after this report is published, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Online Version: This report and additional information on UEM Edgenta is available online at our corporate website, uemedgenta.com Feedback: We look forward to receiving and responding to any feedback on this report from our stakeholders. Please channel your feedback or query to: Head, Corporate Communications Level 16, Menara UEM Tower 1, Avenue 7 The Horizon, Bangsar South City No. 8, Jalan Kerinchi 59200 Kuala Lumpur Tel: 03-2725 6688 Fax: 03-2711 8057 E-mail: communications@edgenta.com NAVIGATION ICONS This Integrated Annual Report discusses how we create value through our four strategies and six strategic focus areas. For ease of reference in reading this report, our disclosures on each strategic focus area are represented by navigational icons as follows: FOUR STRATEGIES SIX STRATEGIC FOCUS AREAS Disrupting our delivery model Deepen our competencies Broaden income streams Develop total solutions capabilities Operational Excellence Organisational Excellence Health, Safety, Security and Environment (“HSSE”) Client Solutions Technology & Innovation Stakeholder Management & Communications
16 17 Annual Report 2019 UEM Edgenta Berhad MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS UEM EDGENTA AT A GLANCE INTRODUCTION 2019 KeyHighlights 2019 Key Highlights • All 32 government hospitals we manage in Northern Peninsular Malaysia have received 1 or 2-star ratings by ASEAN Energy Management Scheme (“AEMAS”) / Energy Management Gold Standard (“EMGS”) • 4-STAR award for Excellent Hospital Support Services - Company Performance Assessment by Ministry of Health (“MoH”) Malaysia • Rebranding of Healthcare Support (Commercial) division entities in Malaysia and Taiwan to Edgenta UEMS • Recertification of Prime Minister’s Office to GBI Platinum Rating • Successfully facilitated the certification of PETRONAS Twin Towers and Tune Hotel to GBI Gold Rating • Participated in the International Greentech & Eco Products Exhibition and Conference Malaysia (“IGEM”) 2019 • Entered into a Memorandum of Understanding (“MoU”) with the Malaysian Highway Authority (“MHA”) and the Construction Industry Development Board Malaysia (“CIDB”) to explore potential collaboration opportunities in raising highway maintenance standards, underscoring our industry leadership in HSSE • Deployed mechanised vehicles in highway maintenance operations for grass cutting and road sweeping works • Incorporated Opus Consultants (Sarawak) Sdn. Bhd. (“OCS”) and established a new office in Kuching, Sarawak in July 2019 • Collaboration with Jabatan Kerja Raya (“JKR”) Sarawak on pavement research and innovation • Provision of Hospital Support Services to MoH Singapore’s restructured hospitals worth up to RM944 million • Energy Performance Contracts (“EPC”) at MoH Malaysia hospitals • Replacement Through Maintenance for up to six years at four MoH Malaysia hospitals • Blood Bank Information System at MoH Malaysia’s blood banks and hospitals • EPC carried out at Proton’s Centre of Excellence at the Sime UEP Industrial Park and the Tanjung Malim manufacturing plant • Integrated Facility Management contract for Menara Bumiputera- Commerce, for Pelaburan Hartanah Berhad • Facility management for additional wasl Group sites in Dubai • Architecture and Green Design & Build works for Hyundai-Sime Darby Motors • Maintenance and asset management for Cikampek - Palimanan Highway, Indonesia in partnership with Astra Group • 1st productisation of RAMS technology solution in the Infrastructure sector for Sarawak State Roads • Upgrade of Sewerage Treatment Plants along the North-South Expressway over three years • Award for LPT2 Pavement Structural Overlay (“PSO”) works, first award of its kind in that network • Project management consultancy for Coastal Road Network and Second Trunk Roads (Phase 1 & 2) • Asset Condition Survey for MRT Line 1 • Operational & Maintenance Consultancy for Yangon Expressway, Myanmar • Facilities Management Company of the Year 2019 from Frost & Sullivan Asia Pacific for the fifth consecutive year • Enhanced Clean Mark Accreditation Scheme (Gold) Award from the National Environment Agency of Singapore for the fifth consecutive year • UEM Edgenta honoured with an award from Microsoft in the transformation achievement category in 2019 • 5-Star Rating and Top 10 Team Award by Malaysia Productivity Corporation • Gold Award at the Malaysia Productivity Corporation Regional Team Excellence (“RTEx”) Convention • Merit Certificate for Annual Report 2018 at the National Annual Corporate Reports (“NACRA”) Awards 2019 • First Prize at the Singapore Healthcare Management 2019 Congress Poster Competition by SingHealth • Malaysia Best Employer Brand Award at the World Human Resource Development Congress 2019 • BrandLaureate Awards: Most Valuable Brand Award 2018-2019 in Integrated Asset Solutions • Silver Award at the Malaysian Society for Occupational Safety & Health (“MSOSH”) Occupational Safety & Health (“OSH”) Awards • Silver Award at the Mini Team Excellence (“MTex”) Convention by Malaysian Productivity Corporation Return on Equity 11.8% From 9.6% as at FY2018 RM188.0million Profit After Tax 23.4% year-on-year RM116.4 million Dividend To Shareholders Total dividend declared of 14 sen per share for FY2019, representing a yield of 5.4% based on share price as at 26 February 2020 0.33 x Gross Gearing Ratio RM101.9million Net Cash Position Total Assets RM2,912.8 million 1.2% year-on-year RM245.0 million Profit Before Tax 23.4% year-on-year RM2,411.2million Revenue 10.5% year-on-year Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) RM325.1 million 22.0% year-on-year Earnings Per Share 21.9 sen 23.0% yearon-year Shareholders’ Funds RM1,572.0 million 4.6% year-on-year Total Cash, Bank Balances, Deposits and Short Term Investments RM621.0 million 2.9% year-on-year Property & Facility Solutions Infrastructure Services Healthcare Support Asset Management Infrastructure Solutions Key Contracts Secured in 2019 Key Awards & Recognition Asset Consultancy Net Assets Per Share RM1.89 4.6% year-on-year
Healthcare Support Property & Facility Solutions Infrastructure Services Asset Consultancy 18 Who We Are& Where We Operate UEM Edgenta is the region’s leading Asset Management and Infrastructure Solutions company. We have established our expertise in Healthcare Support and Property & Facility Solutions together with Infrastructure Services covering, but not limited to, Expressways and Rail, including project management & engineering design capabilities via Asset Consultancy. This has enabled us to offer a complete suite of services throughout the asset lifecycle, including consultancy, procurement & construction planning, operations & maintenance, as well as optimisation, rehabilitation and upgrades. A subsidiary of UEM Group Berhad, we are listed on the Main Market of Bursa Malaysia Securities Berhad (KLSE: EDGENTA). Beyond Malaysia, we are also present in Singapore, Indonesia, Taiwan, India and the United Arab Emirates. * Faber Sindoori Management Services Pte. Ltd. is accounted as an associate of UEM Edgenta United Arab Emirates Revenue RM96.3million India Revenue RM107.6million* Who We Are & Where We Operate WE OPERATE IN6 COUNTRIES ACROSS THE REGION Malaysia Revenue RM1,665.4million Taiwan Revenue RM336.7million Singapore Revenue RM264.5million Indonesia Revenue RM48.4million 19 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Market Capitalisation of RM2.0billion As at 28 February 2020 FY2019 Shareholders’ Funds of RM1.6billion Listed on the Main Market of BURSA MALAYSIA Securities Berhad Since 2 January 1964 Combined Experience of more than in Asset Management & Infrastructure Solutions 80 Years One of the Region’s Largest Asset Management & Infrastructure Solutions Entities with FY2019 Group Assets of RM2.9billion Malaysian Non-Malaysian TOTAL NUMBER OF EMPLOYEES serving our customers as at 31 December 2019 73% 27% 19,897 Annual Report 2019
20 21 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 OrganisationStructure As at 31 March 2020 BOARD OF DIRECTORS MANAGING DIRECTOR/CHIEF EXECUTIVE OFFICER Chief Operating Officer / Head of Divisions (Healthcare Support / Property & Facility Solutions / Infrastructure Services) Divisions Business Support Services Head of Asset Consultancy Project Delivery Asset Management Healthcare Support Healthcare Concession Healthcare Commercial Property & Facility Solutions Infrastructure Services Continuous Improvement Innovation Chief Financial Officer Finance, Group Procurement & Contract Management, Risk, Integrity & Compliance Finance Treasury Group Procurement & Contract Management Risk, Integrity & Compliance Line of Business Business Support Organisation Structure Internal Audit Board Committees • Nomination and Remuneration Committee • Board Tender Committee • Board Governance and Risk Committee • Audit Committee Human Resource & Administration Corporate Centres Shared Services Administration Business Partners Information & Communication Technology Information Technology Command & Contact Centre Operational Excellence & HSSE Health, Safety, Security & Environment Total Quality Excellence Client Solutions Business Ideation Technical & Sales Project & Product Development Corporate Development, Planning & Strategy Corporate Development Corporate Planning Corporate Strategy* Legal & Secretarial Legal Secretarial Corporate Communications * includesInvestorRelations Corporate Support Chief People Officer External Communications Internal Communications Brand Communications
22 23 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 CorporateStructure As at 31 March 2020 Concession Commercial 100% UEMS Solutions Pte. Ltd. (Singapore) 100% Opus International (M) Berhad Other Subsidiaries Other Subsidiaries 100% Edgenta UEMS Ltd. (Taiwan) 100% Edgenta Mediserve (Sarawak) Sdn. Bhd. 100% Edgenta UEMS Sdn. Bhd. 100% Cermin Cahaya Sdn. Bhd. Other Subsidiary 40% Sedafiat Sdn. Bhd. 100% Edgenta UEMS SC Ltd. (Taiwan) 40% One Medicare Sdn. Bhd. 40% Biomedix Solutions Sdn. Bhd. ASSET MANAGEMENT INFRASTRUCTURE SOLUTIONS HEALTHCARE SUPPORT PROPERTY & FACILITY SOLUTIONS INFRASTRUCTURE SERVICES ASSET CONSULTANCY 100% Edgenta Healthtronics Sdn. Bhd. 100% Edgenta Mediserve (Sabah) Sdn. Bhd. 100% Opus Group Berhad 100% Edgenta Township Management Services Sdn. Bhd. 100% Edgenta (Singapore) Pte. Ltd. 97.46% UEMS Pte. Ltd. (Singapore) 100% Edgenta Healthcare Management Sdn. Bhd. 100%* Edgenta Mediserve Sdn. Bhd. * Direct and Indirect Interest Corporate Information BOARD OF DIRECTORS TAN SRI DR. AZMIL KHALID Independent Non-Executive Chairman (Appointed on 24 May 2019) DATO’ AZMIR MERICAN DATO’ AZMI MERICAN Managing Director/Chief Executive Officer DATO’ MOHD IZANI GHANI Non-Independent Non-Executive Director (Appointed on 22 October 2019) DATO’ NOORAZMAN ABD AZIZ Non-Independent Non-Executive Director ROBERT TAN BUN POO Independent Non-Executive Director ELAKUMARI KANTILAL Non-Independent Non-Executive Director DATO’ GEORGE STEWART LABROOY Independent Non-Executive Director EMILY KOK Independent Non-Executive Director ROWINA GHAZALI SETH Independent Non-Executive Director SHAHAZWAN HARRIS Alternate Director to DATO’ NOORAZMAN ABD AZIZ Non-Independent Non-Executive Director (Resigned on 28 February 2019) DR. SAMAN @ SAIMY ISMAIL Independent Non-Executive Director (Demised on 29 April 2019) DATUK SERI AMIR HAMZAH AZIZAN Non-Independent Non-Executive Chairman (Retired on 15 May 2019) JUNIWATI RAHMAT HUSSIN Independent Non-Executive Director (Resigned on 31 March 2020) AUDIT COMMITTEE Effective from 1 January 2020 Robert Tan Bun Poo Chairman Elakumari Kantilal Member Emily Kok Member NOMINATION AND REMUNERATION COMMITTEE Rowina Ghazali Seth Chairman (Re-designated on 31 March 2020) Dato’ Mohd Izani Ghani Member (Appointed on 22 October 2019) Dato’ George Stewart LaBrooy Member (Appointed on 31 March 2020) Dr. Saman @ Saimy Ismail Member (Demised on 29 April 2019) Dato’ Noorazman Abd Aziz Member (Relinquished membership on 22 October 2019) Juniwati Rahmat Hussin Chairman (Resigned on 31 March 2020) BOARD TENDER COMMITTEE Elakumari Kantilal Chairman Robert Tan Bun Poo Member (Appointed on 31 March 2020) Emily Kok Member Dato’ George Stewart LaBrooy Member (Resigned on 31 March 2020) BOARD GOVERNANCE AND RISK COMMITTEE Effective from 1 January 2020 Dato’ George Stewart LaBrooy Chairman Tan Sri Dr. Azmil Khalid Member Dato’ Noorazman Abd Aziz Member Rowina Ghazali Seth Member COMPANY SECRETARY Chiew Siew Yuen SSM PC No.: 201908001259 MAICSA 7063781 REGISTERED OFFICE Level 17, Menara UEM Tower 1, Avenue 7 The Horizon, Bangsar South City No. 8, Jalan Kerinchi 59200 Kuala Lumpur Tel : +603 2725 6688 Fax : +603 2725 6888 AUDITORS ERNST & YOUNG (AF: 0039) Chartered Accountants Level 23A Menara Milenium Jalan Damanlela Pusat Bandar Damansara 50490 Kuala Lumpur SHARE REGISTRAR BOARDROOM SHARE REGISTRARS SDN. BHD. 11th Floor, Menara Symphony No. 5, Jalan Prof. Khoo Kay Kim Seksyen 13 46200 Petaling Jaya Selangor Darul Ehsan Tel : +603 7890 4700 Fax : +603 7890 4670 PRINCIPAL BANKERS Ambank Berhad CIMB Bank Berhad HSBC Amanah Malaysia Berhad Malayan Banking Berhad Public Bank Berhad RHB Bank Berhad PRINCIPAL SOLICITORS Christopher & Lee Ong Sanjay Mohan Lee Hishammuddin Allen & Gledhill Rahman Rohaida Wiyono & Partners STOCK EXCHANGE LISTING Main Market of Bursa Malaysia Securities Berhad Stock Name / Code : EDGENTA/1368 Stock Sector : Industrial Products & Services Other Subsidiaries 100% Edgenta Facilities Management Sdn. Bhd. 51% Faber Sindoori Management Services Private Limited (India) Other Subsidiaries 100% Edgenta Facilities Sdn. Bhd. 80% Edgenta GreenTech Sdn. Bhd. (formerly known as KFM Holdings Sdn. Bhd.) 75% Faber L.L.C (UAE) 100% Edgenta Energy Projects Sdn. Bhd. 70% Edgenta Energy Services Sdn. Bhd. Other Subsidiaries 100% Edgenta Infrastructure Services Sdn. Bhd. 99.9% PT Edgenta PROPEL Indonesia 100% Edgenta PROPEL Berhad 100% Edgenta Environmental & Material Testing Sdn. Bhd.
24 25 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 Our Business Divisions KEY OFFERINGS AND CORE SECTORS Our Asset Management segment covers Healthcare Support and Property & Facility Solutions, while we provide Infrastructure Services and Asset Consultancy under our Infrastructure Solutions segment. Healthcare Support Infrastructure Services Property & Facility Solutions Asset Consultancy • Biomedical Engineering Maintenance Services (“BEMS”) • Facilities Engineering Maintenance Services (“FEMS”) • Healthcare Waste Management Services (“HWMS”) • Linen & Laundry Services (“LLS”) • Housekeeping / Cleansing Services (“HKS / CLS”) • Portering Services (“PTR”) • Operations Central Workshop (“OCW”) • Sustainability programme • Network Maintenance and Asset Management Services • Environmental Material Testing and Monitoring • Pavement Products and Services • Traffic and Safety Management Project Management • Value Management • Project Planning • Procurement and Contract Administration • Design and Construction Management Engineering and Technical • Feasibility Study • Engineering Design • Site Supervision • Value Engineering Asset Management • Inspections and Condition Assessment • Maintenance Planning & Programme Management • Pavement Research & Solutions • Information Systems & Management • Asset Consultancy & Management (Asset Lifecycle) • Project Advisory, Planning & Management • Engineering Design & Consultancy • Research & Development ASSET MANAGEMENT INFRASTRUCTURE SOLUTIONS • Development Advisory • Design & Build • Energy Engineering • Smart Facilities Management • Digitalisation Management • Sanitation and Disinfection Treatment Partnering for a better healthcare experience Enhancing asset value, optimising asset performance Ensuring reliability, safety and comfort for users Delivering with distinction INNOVATIVE OPERATIONAL SOLUTIONS VALUE-ADDED SERVICES Our Business Divisions Serving over 300 hospitals and clinics across Malaysia, Singapore, Taiwan and India Incinerating 6,900 metric tonnes of clinical waste annually Processing 18,000 tonnes of soiled linen annually Maintaining over 3.6 million sqm2 of cleanable area daily Optimised manpower utilisation by over 20% through our Portering service Caring for more thanRM1.8 billion worth of FEMS assets Preserving the lifespan of more than 50,000 BEMS assets worth over RM3 billion More than two decades of experience in Facilities Management AchievedGBI Certifications for 10Green Buildings through our Energy Efficient Solutions Managing over 300 buildings in Malaysia and the United Arab Emirates Our Energy Efficient Solutions reduce electricity consumption by 27% More than30 years of experience in highway maintenance Track record is evident in the network management and maintenance of over 3,100 kmof expressways in Malaysia and Indonesia Involved inexpressways, state roads, airports, plantations, ports and rail Providing Integrated Infrastructure Servicesof Pavement Rehabilitation, Network Maintenance, Traffic & Safety Management and Utilities Relocation Services, and Environment & Material Testing Services Over 30 years of experience in highways and roads, airports, urban transit and built environment and other key infrastructure projects Providing total lifecycle management for over 1,171 kmof toll expressways Services: • Project Management & Value Engineering • Asset Management Consultancy • Engineering & Technical Consultancy Expertise in 3 sectors: • Highways & bridges • Built environment • Rail Delivered projects valued at more thanRM100 billion over 3 decades OUR SERVICE QUALITY & PERFORMANCE AT A GLANCE • Integrated Facilities Management • Civil, Mechanical & Electrical System Maintenance • Integrated Building Management System • IoT Technology Development & Deployment • Building Condition Assessment & Survey • UETrackTM • Biomedical Equipment Asset Total Solutions (“BEATS”) • Toilet Demand Inspection System (“TDIS”) • Smart Connect • Road Asset Management System (“RAMS”) Energy bill savings 2017-2019 >RM55 million Total capex spending on energy projects to date >RM100 million
26 27 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 Our TechnologySolutions We pride ourselves in providing value-added services across our Asset Management and Infrastructure Solutions offerings by leveraging on proprietary technology which have been developed in-house. As an organisation with an eye on the future, we value the role of technology-enabled solutions not only to achieve operational excellence internally, but also to improve service delivery to our clients. This also allows us to adopt a holistic and sustainable approach to address challenges throughout the asset lifecycle and support our drive towards becoming a technology company focused on healthcare and infrastructure. Our approach to technology and innovation is also in line with the Industrial Revolution 4.0 (“IR 4.0”) to ensure we always stay ahead of the curve. Our technology and innovation initiatives are further anchored on Health, Safety, Security & Environment (“HSSE”) to ensure the well-being of all employees, clients, asset users, external vendors, contractors and sub-contractors. Please refer to our Sustainability Statement on pages 64 - 83 of this Report. The following discloses our approach and capabilities in technology and innovation. For further details on how we have made these solutions work for our organisation and our customers, please refer to the Operational Review section on pages 55 - 63 of this Report. Our Technology Solutions EMBRACING RESEARCH AND TESTING POWERING SOLUTIONS THROUGH PLATFORMS AND SYSTEMS Our technology platforms developed in-house make up the core of our client solutions. Our use of these systems have also made us an early adopter of Artificial Intelligence (“AI”) and machine learning on the back of cloud computing, strengthening our ability to provide better services to customers through real-time data and performance assessment. UETrackTM Road Asset Management System (“RAMS”) Edgenta Smart Connect Command & Contact Centre Our UETrackTM platform employed by our Healthcare Support division, enables mobile resource optimisation through a web portal, as well as mobile and tablet applications. The platform supports housekeeping, portering, facilities management, customer feedback and other services, enhancing productivity through automation of work processes. It has also allowed us to realise cost efficiencies and improve customer satisfaction but more importantly to power our efficiency and daily operations for the convenience of over 10,000 of our employees in the region. Our Property & Facility Solutions division uses this smart facilities management solution to harness data insights and realise better value and service excellence. Using this system, we capture real-time data from air-conditioning, lighting, lift systems and other building services to enable predictive maintenance and anomaly detection. This ensures the assets under our care perform at optimised levels as we attend to them prior to any issues arising. 29% Reduction in labour intensity 25% Reduction in scheduled maintenance man-hours 20% Reduction in cost of managing buildings 40% Increase in tool-time, by reducing time spent on manual processes RAMS comprises a comprehensive and integrated enterprise system used by our Infrastructure Services division to deliver efficient and effective asset management and maintenance operation services. The system enables remote monitoring and management of work and assets with ongoing data collection to improve real-time reporting and operational efficiency. RAMS takes in information on the entire length and assets of an expressway and has the functionality to integrate with other systems like Geographic Information System (“GIS”) and provide access to various stakeholders of the asset including the asset owner, governmental authorities, consultants, surveyors, managers, mainline workers, supply chain partners and auditors. This platform coupled with the additional connectivity and availability to integrate seamlessly with other systems makes RAMS the ideal infrastructure and road asset monitoring system. Our Command & Contact Centre represents a significant breakthrough in integrating our technology systems and allows us to closely monitor the assets under our care. Serving as the central hub for the creation and implementation of Internet of Things (“IoT”) applications in facilities management, the centre facilitates energy management, real-time monitoring with controls and building automation. It also allows for predictive maintenance and strategic building management planning. The Command & Contact Centre houses our data repository and enables remote asset management as well as employs machine learning and predictive analysis. Additionally, it serves as our contact centre, while also providing workforce management capabilities. The Command & Contact Centre has connected 34 properties and 32 hospitals online, as well as monitors over 1,000 km of highway and 1,100 Edgenta vehicles and tracks 213 ambulances, over 2,000 portering services in hospitals daily, 60,000 linen and 6,900 FM devices in hospitals. SECURING OUR TECHNOLOGY SYSTEMS In view of the need to ensure the security of our technology systems, data and infrastructure, we have put in place strict measures and contingency plans to circumvent threats. These include internal firewalls, cloud security systems and building security features to ensure our assets are protected at all times. For further details on our approach to security, including cybersecurity, please refer to our Statement on Risk Management and Internal Controls, as well as our Key Risks and Opportunities section on pages 119 - 129 and 51 - 54 of this Report. TRANSFORMING WORK THROUGH AUTOMATION AND MECHANISATION By introducing machinery and robots to automate and mechanise our work, we are able to work smarter, at lower costs with reduced dependency on manpower, as well as minimal exposure to health and safety risks. In our Healthcare Support division, we have invested in floor scrubbers that automate the cleaning process using intelligent dynamic mapping and obstacle & collision avoidance technology effectively reducing the need for a headcount to operate. We have increased sensorisation through the use of Radio Frequency Identification (“RFID”) tags which are attached to all linen at five sites (four hospitals and a laundry plant) that automates the counting and tracking of linen, resulting in zero loss. We recognise the value of research and testing to produce technology solutions which elevate the industry standards. We have an established Pavement Research Centre that develops new asphalt mixes and innovative techniques and pavement design. We aim to offer full pavement lifecycle solutions – to plan, design, build and maintain through partnerships with authorities, developers, or undertaking 2,000Portering jobs daily per hospital > 60,000 Laundry and linen RFID trackers > 6,900Hospital FM devices measured We have also installed asset monitoring sensors and Global Positioning System (“GPS”) trackers that enables us to track the performance of chillers and ambulances throughout the hospitals under our care. These smart equipment automatically generates data which flows into the Smart FM (facility management) dashboard allowing for predictive, condition-based maintenance through an Internet of Things (“IoT”) architecture. pavement works from main contractors. Our Environmental Material Testing Lab offers material testing services, as well as conducts assessments of pavement conditions. On the Healthcare Support front, we have also set up an Operations Central Workshop to test, calibrate and repair biomedical equipment in the Northern region of Peninsular Malaysia. In Infrastructure Services, we have mobilised a fleet of mechanised expressway maintenance vehicles such as road sweepers, MULAG hydraulic arm grass cutter, remote slope lawn mowers, traffic management vehicles and safety vehicles. These technology assets have drastically reduced the need to perform manual work and exposure to dangers and hazards on the road. Using drone technology and digital data by mapping out the rock slope for a part of the Bukit Lanjan interchange, we have a successful proof-ofconcept on a critical slope inspection programme to monitor slope movement and to improve safety conditions of inspectors.
28 29 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 Our Business Model Delivering sustainable value • Financial growth and attractive value • Resilient and defensive stock • Track record of shareholder returns and yield • More than RM850 million in dividends paid to shareholders from 2014 to 2019 Employee well-being and growth • Emphasis on health and safety of frontline staff • Continuous career development through capability-building and learning & development programmes Building a sustainable, value-added business • Partnerships with suppliers and business partners to unleash operational efficiency • Caring for our subcontractors’ well-being through HSSE • Vendor development programme to promote the growth of innovative and competitive SMEs and entrepreneurs • Energy efficient solutions to minimise carbon emissions Nation-building and community outreach • Supporting the Malaysian economy through job creation, tax payments, dividends and economic activity • Philanthropic contributions to underserved communities • Support of education initiatives to develop future-ready, technologically-advanced talents • CSR initiatives in communities • Zakat funds distributed under Asnaf- Miskin, Fisabililahand Al-Ghariminbenefiting 1,718 recipients Our Business Model Financial Output • RM188.0 million PAT for FY2019 • 11.8% Return on Equity for FY2019 • Dividend declared of 14 sen per share for FY2019, representing a yield of 5.4% based on share price as at 26 February 2020 SIX STRATEGIC FOCUS AREAS Health, Safety, Security & Environment (“HSSE”) Technology & Innovation Stakeholder Management & Communications Client Solutions Organisational Excellence THREE VALUES WHICH DEFINE US: • Purpose Driven: - Assurance and Peace of Mind as our value proposition to clients - Edgenta Way as the industry standard • Powered by Technology: - Platforms, systems & processes - Technology and innovation as a company culture • Sustainability: - Sustainability as a hallmark of industry leadership & corporate citizenry - Leadership by example - Triple Bottom-Line goals (people, planet & profit) Operational Excellence Leadership & Expertise • Combined experience of more than 80 years in Asset Management and Infrastructure Solutions, in which we are a home-grown champion in Malaysia, with a regional presence in five other countries Finance • Strong financial position with RM2.91 billion of total assets and net assets of RM1.89 per share • Healthy cash and bank balances (including deposits and short term investments) of RM621.0 million and gross gearing ratio of 0.33 times Technology and infrastructure • In-house developed technology platforms with our Command & Contact Centre as the hub of our regional operations • Pavement Research Centre • Edgenta Academy • Environmental Material Testing Lab • Automated & Mechanised assets • Real-time sensors, Radio Frequency Identification Technology (“RFID”) trackers and Inspection Drones • Operations Central Workshop Sustainable relationships with stakeholders • Clients, partners, employees, government and regulators, industry and business associations, supply chain partners, communities, shareholders and investors High-performing workforce • A well-experienced and competent leadership team supported by a highly skilled workforce at all levels with extensive experience • Diverse talent pool of close to 20,000 employees across six countries Natural resources • Energy used to run our operations and technology systems, as well as water consumed in our buildings Natural Capital The renewable and non-renewable environmental resources which support the provision of our services Human Capital The competencies, capabilities and experience of our workforce Manufactured Capital The physical, material and technological objects that are available to our organisation for use in the provision of our services Financial Capital The pool of finances that is available for our organisation to use, obtained funds generated from our operations or investments and financing Intellectual Capital Our collective technical skillsets, industry-wide expertise, technological and innovative methods, as well as our research and development World-class services • Offering a suite of services and solutions in Healthcare Support, Property & Facility Solutions, Infrastructure Services and Asset Consultancy • Value-added services which meet international standards and certifications OUTCOMES OUTPUTS VALUE CREATION PROCESS INPUTS CAPITALS People • Skilled and motivated workforce • Committed to deliver efficient and high-quality services Social and Relationship Resource The institutions and relationships within and between our communities, key stakeholders and other networks, and the ability to share information to enhance individual and collective well-being OUR SIX CAPITALS
30 31 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION STRATEGIC FOCUS Annual Report 2019 Key Relationships We value the role our stakeholders play in helping to build our organisation’s long-term value. To this end, we conduct regular formal and informal engagements with both internal and external stakeholders across multiple platforms. These engagements are aimed at gaining insight into their needs and concerns. Our Management then deliberates on these perspectives, which are also presented to the Board, to enable us to develop effective strategies for our business. The following details the stakeholders whom we have key relationships with, the way that we communicate with them, the areas which they have identified as relevant and how we addressed these areas during the year in review. Existing Clients and Partners How We Engage with Them: Regular engagement across multiple touchpoints • Regular & ad-hoc meetings • Bi-annual client satisfaction surveys • Visits to corporate office / operational sites • Industry & technical conference • Exhibitions & roadshows • Annual Partners Operations Dialogue • Website • Annual Report • Periodic newsletter to our clients Key Interest, Concerns & Expectations: • A fulfilling experience through quality services and results that optimise their assets • Technology-enabled solutions that sustainably drive efficiency and support their growth strategy Link to Strategy: Our Responses: • Service-based delivery to value-based services • Promote our Edgenta Way (Tech-enabled, HSSE focused, Quality assured and Certified) of providing services which cater to the expectations of our clients and partners • Developed and adopted software and technology solutions, innovation, automation and mechanisation to support operations • Addressing all queries and concerns by clients and partners • Active participation in relevant industry associations Government & Regulators, Industry & Business Associations How We Engage with Them: • Scheduled / ad-hoc meetings • Conferences & events • Visits to our corporate office • Presentation & talks at workplace • Website • Annual report • Regulatory audits / inspection • Active corporate membership in industry associations and government bodies Key Interest, Concerns & Expectations: • Compliance to rules and regulations, with the Group keeping them updated with various requirements • Share, contribute and create best practices for the industry or new policies and regulations towards nation building, in alignment with local and Government agendas • Provide thought leadership & industry contributions Link to Strategy: Our Responses: • Provided regular updates on compliance issues and operations towards ensuring full compliance to rules and requirements • Maintained and updated ISO Certifications • Periodic engagement with Government and regulatory agencies on policy matters relating to industries we serve • Hosted key Government official visits to promote more incentives and other types of assistance to spur industry players to modernise the industry with digitalisation, automation and mechanisation technologies • Launched the revised Code of Conduct to provide guidance and help our employees to comply with fundamental requirements and commitment to build trust in everyday business and outline ethical behaviour standards in our business activities • Key leaders in UEM Edgenta holding key positions in MAPMA and Malaysia Chapter of Institution of Civil Engineers (“ICE”) United Kingdom • Key events participated in: - International Seminar & Workshop of Safer Road by Infrastructure Design & Operation - Association of Private Hospital of Malaysia International Healthcare Conference & Exhibition - 26th World Road Congress in support of JKR and Road Asset Association of Malaysia (“REAM”) - ASEAN Health Summit - International Greentech & Eco Products Exhibition & Conference Malaysia 2019 (“IGEM”) Employees Link to Strategy: How We Engage with Them: Consistent employee engagement via the following initiatives throughout the year: • Periodic management staff reviews • Internal team meetings / department meetings • Monthly MD/CEO Messages • Annual Management Dialogue • Internal employee events • Learning and development programmes for personal and professional development • Daily / weekly internal communications / announcements via Edgenta Connect (Intranet) and social media • Periodic forums • Focus group discussions • Staff induction • Annual individual performance review • Employee engagement survey • Volunteering and CSR programmes Key Interest, Concerns & Expectations: • Continuous employer-employee engagement / relations • Updates on business strategies and operational performance • Providing a safe & conducive working environment • Providing fair and competitive remuneration and benefits • Clear, timely and effective communications channels • Effective talent & welfare management to achieve career progression • Work-life balance Our Responses: • Annual Management Dialogue organised to clearly communicate company’s business direction, strategy and targets to the senior and middle management who are the movers and shakers across all businesses • Edgenta Academy website launched in Q4 2019 to institutionalise industry standards, processes, competencies through structured trainings, capabilities assessment & certification programme • As part of Digital Revolution (“DR”): Human Capital Management (“HCM”) System implemented to empower employees to access their benefits 24/7, with some functions available on mobile - Employee Self Service (“ESS”) and Manager Self Service (“MSS”) went live in October 2019 - To ensure all employees benefit from the DR initiative, 88 internal trainers conducted 201 sessions company-wide with a total outreach of 75% involving 3,182 employees - The HCM frees the HR team from manual HR functions, enabling them to provide industry knowledge & business advisory to business divisions and employees • 11,204 employees were trained with technical skills as the main training focus in 2019; other trainings include soft skills, leadership, quality and HSSE • Launched the Frontline Supervisor Development Programme 2.0 and trained 251 staff from the Infrastructure Services division to enhance leadership and competencies to uphold safety quality towards achieving our “Goal Zero” target • Launched the Accelerated Leadership Programme (“ALP”) for the Healthcare Support division, piloting the programme for 25 Executives • Improved performance evaluation through Performance Management System, Pay for Performance and Individual Development Plan • Conducted team-building sessions to improve organisational agility, boost teamwork performance and foster innovation and creativity • Improved Employee Engagement Survey with an overall score of 74%, 6% higher from 2017. This places UEM Edgenta as one of the topquartile companies within the Government-Linked Company (“GLC”) and Malaysian Norm 2017 / 2018 companies • Promoting work-life balance via 90 Days Maternity Leave, 3 days Paternity Leave, festive events, Sports & Recreation Club activities, as well as volunteering / participation in corporate responsibility activities Key Relationships Supply Chain Partners Link to Strategy: How We Engage with Them: • Vendor development programme workshops • Periodic vendor performance reviews, planned audits & site visits • Annual Partners Operations Dialogue • Code of Conduct for business partners Key Interest, Concerns & Expectations: • Fair treatment • Responsible sourcing • Safe and conducive operation sites • Anti-corruption Our Responses: • Conducted the Vendor Development Programme to support Bumiputera entrepreneurs • Continuing engagements on safety and periodic checks on compliance with regulations and relevant laws and codes • Launched our Code of Conduct for Business Partners to uphold compliance and integrity among supply chain partners and held Integrity Day to amplify integrity and openness in doing business • Whistleblowing reporting channel, policies procedures to address collusion and to promote integrity & good governance • Zero tolerance for corrupt practices
Community Link to Strategy: How We Engage with Them: • Meetings & engagements to collaborate on events / projects • Site visits • Volunteering and CSR programmes Key Interest, Concerns & Expectations: • Community engagements through donations & sponsorships • Zakat funds contribution & disbursement Our Responses: • Identified specific United Nations Sustainable Development Goals (“SDGs”) relevant with our business strategies to improve our sustainability aspirations • Continued and expanded philanthropic activities during festive seasons • Continued and improved engagements in education: sponsored the “Equinox Metropolitan” team from the Pusat GENIUS@Pintar Negara to participate in the World Robot Olympiad 2019 • SK Tan Sri P. Ramlee CSR Programme – refurbishment works & corporate responsibility activities • Contributions towards corporate social responsibility projects • Zakat funds distributed under Asnaf-Miskin, Fisabililah andAl-Gharimin benefiting 1,718 recipients Key Relationships 32 33 UEM Edgenta Berhad MESSAGE FROM OUR LEADERSHIP STRATEGIC FOCUS OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION UEM EDGENTA AT A GLANCE Chairman’s Statement Dear Shareholders, I am pleased to present my first Statement as Chairman since assuming this role on 24 May 2019. During the year in review, UEM Edgenta continued to demonstrate its value as a company with long-term growth prospects as well as a resilient financial position, and businesses that are defensive against shortterm volatility. All these have and will continue to enable us to deliver returns to our shareholders, clients and other stakeholders. RESILIENT AGAINST HEADWINDS Against a challenging operating environment weighed down by uncertainty and a soft economy, we recorded doubledigit growth in both revenue and Profit After Tax (“PAT”), which rose 10.5% and 23.4% to RM2.4 billion and RM188.0 million, respectively. Revenue growth was recorded across all our divisions, driven by new contracts and overall stable margins, contributing to the improved profit. For further details on our financial performance, please refer to the CFO’s Review and Operational Review on pages 40 – 41 and 55 - 63 of this Report. The commendable results were achieved amidst volatility in the highway concession sector in Malaysia. Discussions on ownership of the PLUS North-South Expressway, which we maintain and accounts for an important portion of our work-in-hand, caused delays in some planned activities. The Government eventually announced a reduction in toll rates by 18% starting 1 February 2020 and this will remain fixed for the remaining of the concession which has been extended to 2058. In a wider context, we have seen the emergence of industry megatrends in healthcare and infrastructure sectors which will significantly impact the market landscape. Please refer to Our Market Landscape on page 49 of this Report. These developments pose both new challenges and opportunities for our service offerings and delivery. Towards the end of 2019, we also saw the emergence of the novel coronavirus (“COVID-19”) outbreak which has since gripped the world in a global pandemic. This situation remains fluid, but the consensus is that the already fragile global economy will take a turn for the worse. Notwithstanding, given our resilient financial position, we are well-positioned to weather short-term uncertainties and are geared towards our vision of building “Edgenta of the Future”, representing a technology company which focuses on healthcare and infrastructure. REDEFINING OUR FUTURE In establishing our Edgenta of the Future vision, we undertook a strategic review in FY2019, with a view to future-proof our business over the longer-term. This has led to us looking for new areas of growth in a world where traditional or incumbent business models are facing disruption. Given that we have built significant capabilities that have set us apart as an Asset Management and Infrastructure Solutions company, the clear pathway for our next phase of growth was to move beyond technology as an enabler of our own operations, to offering our clients value-added and innovative solutions to complement our existing service offerings to them. We are prepared to rise to the occasion and are geared towards our next phase of growth. Shareholders & Investors Link to Strategy: How We Engage with Them: • Annual General Meeting • Extraordinary General Meeting • Analyst reports • Quarterly financial announcements • Print, online & social media • Half-yearly analyst & media briefings • Investor relations corporate website • Media releases / statements • One-to-one meeting at investors’ request Key Interest, Concerns & Expectations: • Consistent and concise financial performance for all businesses • Transparency and disclosure of financial information for better understanding of the Company’s strategies • Disciplined mitigations towards Economic, Environmental & Social (“EES”) risks & impact Our Responses: • Detailed and transparent updates through ongoing half-yearly analyst and media briefings • Improving Annual Report content and delivery to ensure transparent and accurate reporting of the Group’s performance and activities • Hosting visits by key stakeholders & investors Media Link to Strategy: How We Engage with Them: • Media releases / statements • Media briefings • Press conferences • Interviews • Social media channels Key Interest, Concerns & Expectations: • Timely, accurate and transparent update on company’s strategies, financial performance financials and corporate development Our Responses: • 20 media releases in 2019 • Six media briefings conducted in 2019 • Daily monitoring of print, online and social media news • Sponsoring media-related events such as Malam Wartawan Malaysia • Media training for Key Senior Management team Annual Report 2019 Tan Sri Dr. Azmil Khalid Independent Non-Executive Chairman
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