MISC Integrated Annual Report 2020

We, Datuk Abu Huraira bin Abu Yazid and Yee Yang Chien, being two of the directors of MISC Berhad, do hereby state that, in the opinion of the directors, the accompanying financial statements set out on pages 319 to 465 are drawn up in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Corporation as at 31 December 2020 and of their financial performance and cash flows for the year then ended. Signed on behalf of the Board in accordance with a resolution of the directors dated 23 February 2021. Datuk Abu Huraira bin Abu Yazid Yee Yang Chien Pursuant to Section 251(2) of the Companies Act 2016 For the year ended 31 December 2020 Pursuant to Section 251(1)(b) of the Companies Act 2016 STATEMENT BY DIRECTORS INCOME STATEMENTS STATUTORY DECLARATION I, Raja Azlan Shah bin Raja Azwa, being the officer primarily responsible for the financial management of MISC Berhad, do solemnly and sincerely declare that the accompanying financial statements set out on pages 319 to 465 are in my opinion correct, and I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act, 1960. Subscribed and solemnly declared by the abovenamed Raja Azlan Shah bin Raja Azwa, at Kuala Lumpur in Wilayah Persekutuan on 23 February 2021. Raja Azlan Shah bin Raja Azwa Before me, Group Corporation Note 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Revenue 3 9,401,234 8,962,724 1,013,630 1,015,989 Cost of sales (6,521,409) (6,215,588) (623,392) (613,124) Gross profit 2,879,825 2,747,136 390,238 402,865 Other operating income 4 141,681 118,853 1,668,786 1,693,065 Impairment provisions 5(a) (331,376) (214,943) (37,071) (101,407) Gain on disposal of ships and an offshore floating asset 25,135 7,884 – – Gain on acquisition of a business 8 – 23,731 – 23,731 Write off of trade receivables and loss on re-measurement of finance lease receivables 9 (846,229) – – – Provision for litigation claims 9 (1,049,248) – – – Finance income 10(a) 112,612 169,249 121,459 195,140 General and administrative expenses (1,116,923) (1,105,913) (194,038) (218,068) Finance costs 10(b) (368,084) (484,303) (30,824) (129,416) Share of profit of joint ventures 428,782 250,629 – – Share of profit of an associate 241 – – – (Loss)/profit before taxation 5 (123,584) 1,512,323 1,918,550 1,865,910 Taxation 11 (46,247) (76,056) (6,214) (1,496) (Loss)/profit after taxation (169,831) 1,436,267 1,912,336 1,864,414 Attributable to: Equity holders of the Corporation (43,067) 1,426,355 1,912,336 1,864,414 Non-controlling interests (126,764) 9,912 – – (169,831) 1,436,267 1,912,336 1,864,414 (Loss)/earnings per share attributable to equity holders of the Corporation (sen) Basic 12 (1.0) 32.0 Diluted 12 (1.0) 32.0 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. 10 318 10 319 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section MISC Berhad / Integrated Annual Report 2020 MISC Berhad / Integrated Annual Report 2020