Table of Contents 1 294

2018 UEM Edgenta Annual Report

EDGENTA ANNUAL REPORT 2018 1
CONTENTS 14
ABOUT UEM EDGENTA 16
ABOUT OUR REPORT 16
VISION, MISSION AND VALUES 17
OVERVIEW OF UEM EDGENTA 18
OUR PRESENCE 19
KEY OFFERINGS AND CORE SECTORS 20
KEY HIGHLIGHTS 2018 22
BUSINESS / NON-FINANCIAL 22
FINANCIAL 23
GROUP STRATEGY 24
OUR BUSINESS MODEL 24
BUSINESS AND SUSTAINABILITY 26
STAKEHOLDER ENGAGEMENT ANDMATERIALITY 27
STRATEGIC FOCUS AREAS: 2018 ACHIEVEMENTS & 2019 PRIORITIES 30
TECHNOLOGY AND INNOVATION 33
KEY RISKS AND MITIGATION 36
GOVERNANCE OVERVIEW 38
CONTRIBUTIONS TO UNITED NATIONSSUSTAINABLE DEVELOPMENT GOALS 39
CORPORATE STRUCTURE 40
CORPORATE INFORMATION 41
BOARD OF DIRECTORS 42
BOARD OF DIRECTORS’ PROFILE 44
KEY SENIOR MANAGEMENT’S PROFILE 54
ORGANISATION STRUCTURE 58
MILESTONES 60
MEDIA HIGHLIGHTS 62
AWARDS AND RECOGNITION 64
CHAIRMAN’S STATEMENT 66
CHAIRMAN’S STATEMENT 66
MANAGEMENT DISCUSSION AND ANALYSIS 70
MD/CEO’S STATEMENT 70
CFO’S REVIEW 74
KEY PERFORMANCE INDICATORS 76
5-YEAR GROUP FINANCIAL SUMMARY 78
2018 GROUP QUARTERLY PERFORMANCE 80
GROUP STATEMENT OF VALUE ADDED 82
GROUP FINANCIAL CALENDAR 83
INVESTOR RELATIONS 84
MARKET REVIEW 88
BUSINESS REVIEW 90
HEALTHCARE SUPPORT 90
PROPERTY & FACILITY SOLUTIONS 92
INFRASTRUCTURE SERVICES 94
ASSET CONSULTANCY 96
REVIEW OF SUSTAINABILITY ACTIVITIES 98
ECONOMIC 98
ENVIRONMENTAL 101
SOCIAL 103
GOVERNANCE 110
CORPORATE GOVERNANCE OVERVIEW STATEMENT 110
STATEMENT ON RISK MANAGEMENTAND INTERNAL CONTROL 120
AUDIT AND RISK COMMITTEE REPORT 128
ADDITIONAL COMPLIANCE INFORMATION 130
FINANCIAL REVIEW 131
FINANCIAL STATEMENTS 131
DIRECTORS’ REPORT 132
STATEMENT BY DIRECTORS 138
INDEPENDENT AUDITORS’ REPORT 139
INCOME STATEMENTS 145
STATEMENTS OF COMPREHENSIVE INCOME 146
STATEMENTS OF FINANCIAL POSITION 148
STATEMENTS OF CHANGES IN EQUITY 152
STATEMENTS OF CASH FLOWS 155
NOTES TO THE FINANCIAL STATEMENTS 157
1. CORPORATE INFORMATION 157
2. SIGNIFICANT ACCOUNTING POLICIES 157
3. REVENUE 186
4. COST OF SALES 187
5. OTHER INCOME 188
6. FINANCE COSTS 188
7. PROFIT BEFORE TAX 189
8. EMPLOYEE BENEFITS EXPENSE 190
9. DIRECTORS’ REMUNERATION 191
10. INCOME TAX EXPENSE/(BENEFIT) 192
11. EARNINGS PER SHARE 194
12. DIVIDENDS 195
13. PROPERTY, PLANT AND EQUIPMENT 196
14. LAND HELD FOR PROPERTY DEVELOPMENT 200
15. PREPAID LAND LEASE PAYMENTS 200
16. INTANGIBLE ASSETS 201
17. INVESTMENT IN SUBSIDIARIES 205
18. INVESTMENT IN ASSOCIATES 209
19. OTHER INVESTMENTS 210
20. INVENTORIES 210
21. TRADE AND OTHER RECEIVABLES 211
22. CONTRACT ASSETS AND LIABILITIES 215
23. SHORT TERM INVESTMENTS 215
24. CASH, BANK BALANCES AND DEPOSITS 216
25. ASSET HELD FOR SALE 216
26. RETIREMENT BENEFIT OBLIGATIONS 217
27. DEFINED BENEFIT PENSION PLAN 219
28. PROVISIONS 221
29. BORROWINGS 222
30. FINANCE LEASES 225
31. TRADE AND OTHER PAYABLES 226
32. DEFERRED TAX 228
33. SHARE CAPITAL AND SHARE PREMIUM 230
34. CAPITAL AND OTHER MERGER RESERVE 231
35. OTHER RESERVES 231
36. RETAINED EARNINGS 232
37. OPERATING LEASE COMMITMENTS 232
38. CAPITAL COMMITMENTS 233
39. PERFORMANCE BONDS AND GUARANTEES 233
40. RELATED PARTY DISCLOSURES 234
41. FINANCIAL INSTRUMENTS 235
42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 239
43. CAPITAL MANAGEMENT 247
44. SEGMENT INFORMATION 247
45. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES 255
46. SIGNIFICANT EVENTS 261
47. SUBSEQUENT EVENT 261
STAKEHOLDER INFORMATION 262
ANALYSIS OF SHAREHOLDINGS 262
PROPERTIES HELD BY THE GROUP 264
RECURRENT RELATED PARTY TRANSACTIONS 266
AGM INFORMATION 284
NOTICE OF THE 56TH ANNUAL GENERAL MEETING 284
STATEMENT ACCOMPANYING NOTICE OF 56TH ANNUAL GENERAL MEETING 289
FORM OF PROXY 291
GROUP DIRECTORY 293

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