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MATRIX INTEGRATED ANNUAL REPORT 2024

Annual Report 2024 1
Inside This Report 3
Vision and Mission 10
Corporate Information 11
Corporate Structure 12
Key Corporate Milestones 14
Group Corporate Profile 16
Five-Year Group Financial Highlights 19
Group Quarterly Performance 20
Dividend Highlights 21
Share Price Performance 22
Statement of Value Added Distribution and Simplified Financial Statement 23
Accolades 24
Chairman's Statement 27
Management Discussion & Analysis 38
Board of Directors 58
Board of Directors' Profiles 60
Chief Executive Officer's Profile 69
Mangement Team 70
Our Business Model 77
Our Business Strengths 79
Matters Material to Value Creation 85
Our Performance in Addressing Material Matters 92
The Business Model at Work: Our Property Value Chain 103
Value Creation Model 106-107
Corporate Governance Overview Statement 112
Audit Committee Report 125
Statement on Risk Management and Internal Control 130
Statement of Responsibility by Directors 137
Directors' Report 139
Statement by Directors 148
Independent Auditors' Report to the Members of Matrix Concepts Holdings Berhad 149
Statements of Financial Position 154
Statements of Profit or Loss and Other Comprehensive Income 156
Statements of Changes in Equity 157
Statements of Cash Flows 159
Notes to the Financial Statements 161
General Information 161
Principal Activities 161
Basis of Preparation 161
Material Accounting Policy Information 162
Investment in Subsidiaries 169
Investment in Joint Venture 174
Property, Plant and Equipment 175
Investment Properties 177
Right-Of-Use-Assets 178
Goodwill 178
Inventories 179
Other Receivables, Deposits and Prepayments 181
Amounts Owing by/(to) Subsidiaries 183
Deferred Tax(Assets)/Liabilities 184
Trade Receivables and Contract Assets 185
Contract Assets/(Liabilities) 186
Fixed Deposits with Licensed Banks 187
Cash and Bank Balances 187
Share Capital 188
Reserves 188
Long-Term Borrowings 188
Sukuk Wakalah 189
Lease Liabilities 190
Term Loans (Secured) 190
Revolving Credits 191
Trade Payables and Contract Liabilities 191
Other Payables, Deposits, Accruals and Provision 192
Bank Overdrafts 192
Short-Term Borrowings 193
Revenue 193
Cost of Sales 193
(Net Reversal of Impairment Losses)/Net Impairment Losses on Financial Assets 194
Profit Before Taxation 194
Income Tax Expense 196
Other Comprehensive Income 198
Earnings Per Share 198
Dividends 199
Cash Flow Information 199
Key Management Personnel Compensation 203
Related Party Disclosures 205
Operating Segments 206
Capital Commitments 210
Financial Instruments 211
Significant Event Occuring After The Reporting Period 223
Additional Information 224
List of Properties 225
Recurrent Related Party Transactions 227
Analysis of Shareholdings 228
Top Thirty (30) Largest Shareholders 230
Notice of Annual General Meeting 232
Statement Accompanying Notice of Annual General Meeting 236
Proxy Form 238

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