Annual Report: Ajinomoto (Malaysia) Berhad (4295-W)

ANNUAL REPORT 2019
AJINOMOTO (MALAYSIA) BERHAD

(4295-W)
CONTENTS
2 Corporate Information
3-8 Management Discussion and Analysis
9 - 14 Directors’ Proﬁle
15 - 26 Corporate Governance Statement
27 Additional Compliance Information
28 Statement of Directors’ Responsibility in Relation to

the Financial Statements
29 - 31 Statement on Risk Management and Internal Control
32 - 34 Audit Committee Report
35 - 36 Analysis of Shareholdings
37 Financial Highlights
38 - 90 Financial Statements
91 List of Properties
92 - 99 Notice of Annual General Meeting
100 - 121 Sustainability Statement
Form of Proxy
AJINOMOTO (MALAYSIA) BERHAD (4295-W)
ANNUAL REPORT 2019
CORPORATE INFORMATION
DIRECTORS
General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim Bin Mohd. Ali (Rtd) (Chairman)
Tan Sri Dato’ (Dr.) Teo Chiang Liang
Naoko Yamamoto (Managing Director/ Chief Executive Officer)
Shunsuke Sasaki (Chief Finance Officer)
Koay Kah Ee
Dominic Aw Kian-Wee
Dato’ Setia Ramli bin Mahmud
Kamarudin bin Rasid
Hiroki Suzuki
Miki Moriyama
Azhan bin Mohamed
BANKERS MUFG Bank (Malaysia) Berhad

Citibank Berhad
Malayan Banking Berhad
Standard Chartered Bank Malaysia Berhad
AUDITORS Hanafiah Raslan & Mohamad
SOLICITORS Lee, Ling & Partners
SECRETARIES Chua Siew Chuan

(MAICSA 0777689)
Yeow Sze Min

(MAICSA 7065735)
REGISTERED OFFICE Lot 5710, Jalan Kuchai Lama, Petaling, 58200 Kuala Lumpur
Tel : 603-7980 6958
Fax : 603-7981 1731
SHARE REGISTRAR Securities Services (Holdings) Sdn Bhd

Level 7, Menara Milenium, Jalan Damanlela,
Pusat Bandar Damansara,
Damansara Heights,
50490 Kuala Lumpur
Tel : 603-2084 9000
Fax : 603-2094 9940
STOCK EXCHANGE Main Market of the Bursa Malaysia Securities Berhad

LISTING
2
ANNUAL REPORT 2019
MANAGEMENT DISCUSSION & ANALYSIS
Our Business
History & Milestones
Ajinomoto (Malaysia) Berhad (“the CompanyȄǼȱ ȱ ȱ ę¢Ȭȱ ¢ȱ ȱ ȱ ¢ȱ ŗşŜŗȱ ȱ ȱ ȱ ȱ
operations as a distributor of monosodium glutamate (“MSG”) under the brand, AJI-NO-MOTO®, which was imported from its
parent company in Japan. In year 1965, the Company commenced its own production of MSG and subsequently other products
at its current factory. The Company is one of the early Japanese companies to be set up in Malaysia. The Company has since
established itself as a dynamic food manufacturer distributing a variety of trusted food seasoning brands. Our AJI-NO-MOTO®
Umami seasoning has become an indispensable item in almost every household.
&RPPHQFHPHQWRI
Establishment “AJI-NO-MOTO” plant Launch of “AJI-EKI” Inauguration of
of Ajinomoto operation +\GURO\]HG Effluent Treatment Launch of “PAL SWEET” Sweetener
(Malaya) $ZDUGHG+$/$/ 9HJHWDEOH3URWHLQ Management /DXQFKRI+\GURO\]HG9HJHWDEOH
Co., Ltd Certification Liquid) (SALAM) 3URWHLQ´+93µ3RZGHU
1961 1965 1971 1982 1989
1963 1968 1978 1988 1992

Corporate name Company name Launch of Launch of Launch of
was changed to was changed to ´$-,6+,2µ “AJI-PLUS” “AJI-AROMA”
Ajinomoto Ajinomoto Table Topping Blended Flavour Flavour Enhancing
(Malaysia) (Malaysia) Berhad Seasoning Enhancer Seasoning
Sdn Bhd as the public
company
2004 2003 2000 1998 1996 1994 1993

Awarded Launch of Launch of “Slim Awarded Launch of Launch of Establishment of Production 2
+$&&3 “TUMIX” Stock Up” Sweetener ISO 9001 “SERI-AJI” Menu “AJI-MIX” (seasonings and food
Certification Seasoning Certification Specific Blended production line) factory
Seasoning Seasoning Launch of “AJIMATE” Taste
Enhancing Seasoning
Awarded “AJI-NO-MOTO”
Product Certification
2005 2006 2008 2010 2011 2012 2014 2017 2019

/DXQFKRI Awarded Awarded Launch of 50th Establishment Establishment +\GURO\VHG Launch "Rasa
´9212µ ISO 14001 26+$6 “Ajinomoto Anniversary of Chicken of ASEAN 9HJHWDEOH Sifu" All in One
Instant Soup Certification Certification Brand” of Ajinomoto Meat Application 3URWHLQ´+93µ Seasoning
/DXQFKRI Chicken Stock (Malaysia) Powder Plant Centre process
´$&7,9$µ7* Berhad improvement
Series
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ANNUAL REPORT 2019
Management Discussion & Analysis (cont’d.)
Our Policy
As a trusted food seasoning company in Malaysia, the Company’s policy is to consistently develop and distribute high quality
and safe products that meet customers’ needs and satisfaction, and at the same time comply with international and local rules and
regulations for food manufacturing. This is the Company’s contribution to the joyful and healthy living of the community and
society.
ȱ¢ȱȱĴȱȱȱȱ¡¢ȱȱ£ǯȱȱ¢ȱȱĴȱȱȱȱȱ
the environment in all areas of its operations. The Company is also dedicated to providing a safe and healthy workplace environment
to all employees.
Product Range
Retail Products
The Company commenced operations in year 1961 with only a single product, namely, AJI-NO-MOTO® Umami seasoning. Today,
the retail product range has expanded to include chicken stock, menu seasoning for local dishes, sweetener, and so on. In March
2019, the Company successfully launched a brand new all-in-one seasoning, namely, RASA SIFU™, which provides a new delicious
experience and convenience to consumers. The Company will continue to conduct market research to capture changing consumer
trends and needs in the area of food seasoning in order to further expand its product range.
Industrial Products
The Company has a wide range of savoury seasoning products, which the Company markets under the name TENCHO. These
TENCHO products are widely used by industrial producers of food such as the producers of instant noodles, seasoning, snack
foods, sauces and processed foods. The Company also launched a new TENCHO product for a new business sector, namely the
dairy industry.
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ANNUAL REPORT 2019
Sales Branches & Overseas Market
ȱ¢ȱȱŗŖȱȱȱ¢ȱȱŗȱȱĜȱȱȱǯ
The Company’s products are well-received by customers in many countries.
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ANNUAL REPORT 2019
Financial Results
Snapshot
Financial Year Ended 31 March 2019 Highlights
Revenue ęȱȱ¡ Total Assets
RM 447.7mil RM 72.7mil RM 533.3mil

Earnings per Share Return on Equity
93.06sen 12.16%
Ordinary Dividends per Share
(Proposed)
47.0sen
Revenue By Geographical Area (RM Millions) Revenue By Business (RM Millions)
Others
Middle East RM5.6
Industrial Business
RM61.5 RM119.2
Other Asian
Countries
RM105.2
Malaysia Consumer Business

RM275.4 RM328.5
Operating Environment
The global economy in year 2018 had been challenging, having been impacted by trade tension and sanctions.
The Malaysian economy grew moderately in year 2018 and consumer sentiments improved as compared to the previous year.
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ANNUAL REPORT 2019
Financial Review
ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱ¢ȱȱȱȱ¢ȱŘǯŜƖȱȱŚřŜǯřȱȱȱȱȱ
ęȱ¢ȱȱŚŚŝǯŝȱǯȱȱȱȱ¢Ȃȱȱ ȱȱ¢ȱȱȱȱȱȱĴȱȱ
ȱȱȬȬțȱǯȱęȱȱ¡ȱȱȱȱęȱ¢ȱȱ¢ȱŞǯřƖȱȱŝŘǯŝȱȱȱŜŝǯŗȱ
ȱ ȱ ȱ ȱ ęȱ ¢ǯȱ ȱ ȱ ȱ ȱ ęȱ ȱ ¡ȱ ȱ ¢ȱ Ĵȱ ȱ ȱ ȱ
including the decrease in the purchase price of a key raw material. However, part of this cost reduction was diluted by the increase
ȱȱȱȱȱ¡ȱȱȱȱȱǰȱȱȱȱȱ¢Ȃȱęȱȱ¡ȱǰȱ
ȱ¢ȱ¢Ȃȱěȱęȱǯȱ
In relation to the acquisition of the freehold land located in Techpark@ Enstek as announced by the Company on 12 February 2018,
the conditions precedent and various responsibilities of the vendor as stated in the Sales and Purchase Agreement are expected to
ȱęȱ ȱȱȱǯ
ȱ
Consumer Business
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ŚǯŞƖȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ řŗřǯŚȱ ȱ ȱ ȱ ȱ
ęȱ¢ȱȱřŘŞǯśȱȱĴȱ¢ȱȱȱȱȱȱȱĴȱȱȱȱȬȬțȱǯȱ
ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
řŗǯŜȱȱȱȱȱęȱ¢ȱȱřşǯŗȱȱȱȱȱęȱ¢ǯȱȱȱȱȱȱęȱ
ȱĴȱȱ ȱȱǰȱ ȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱȱ¢ȱ ȱǯ
Industrial Business
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ řǯŖƖȱ ȱ ŗŘŘǯşȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ŗŗşǯŘȱ
ȱȱȱȱęȱ¢ȱ¢ȱȱȱȱȱȱ¡ȱǰȱ ȱ ȱ¢ȱȱ¢ȱȱ ȱȱȱ
ȱ¢ȱǰȱ¢ȱȱȱęȱȱȱȱȱęȱ¢ǯȱȱȱȱ ȱȱęȱȱŘŘǯŞȱ
ȱȱȱȱęȱ¢ȱȱȱȱŘśǯśȱȱȱȱȱęȱ¢ǯ
Financial Condition
ȱȱ ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ęȱ¢ǯ
ȱ ȱ ȱ ȱ ȱ ȱ Ŝśǯśȱ ȱ ȱ ȱ ȱ ŜŖǯŞȱ ȱ ȱ ȱ ȱ ęȱ ¢ǯȱ ȱ ȱ
ȱȱȱȱ ȱśŞǯŗȱȱȱȱȱȱȱĚ ȱȱřŚǯŗȱȱȱȱȱęȱ¢ǰȱ
¢ȱȱȱȱȱ¢ȱȱȱ ȱȱȱȱȱȬȱǯȱȱĚ ȱȱęȱȱ ȱ
ŘŞǯřȱȱȱȱȱşŚǯŘȱȱȱȱȱęȱ¢ȱ¢ȱȱȱ ȱȱȱȬěȱȬ
tier dividend payment to shareholders in the previous year.
Dividend
The Board of Directors continues to uphold the policy of stable and sustainable dividend payout to shareholders. The Directors
ȱȱęȱȱęȱȬȱȱȱŚŝǯŖȱȱȱ¢ȱǰȱ ȱȱȱȱȱȱȱȱȱȱ
forthcoming Annual General Meeting.
Operational Risk
(1) Risks Related to the Operating Environment
ȱ ȱȱ¡ȱȱ
ȱ ¡ȱȱĚȱȱȱ¢Ȃȱȱȱȱȱȱęȱ¢ǰȱ ȱȱȱȱȱ
regions other than Malaysia amounting to RM172.3 million and the need to import a key raw material which is priced in US
Dollars.
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ANNUAL REPORT 2019
(1) Risks Related to the Operating Environment (cont’d.)
ȱȱ ȱȱȱȱȱȱȱ
The Company conducts business globally. It therefore cannot avoid any economic, political and legal impediments overseas,
such as political instability, that may have an adverse impact on its business results.
ȱ ȱȱȱȱȱ ȱȱȱ
ȱ ȱȱȱȱ ȱȱȱ¢ȱȱȱ¢ȱȱ¢ȱ¢ȱĚȱȱȱȱǯȱ
These will result in higher manufacturing costs, which will impact the Company’s business results.
(2) Risks Related to Business Activities
ȱ Ĵȱěȱȱ¢
ȱ ȱ ¢ȱ ȱ ¡ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
¢Ȃȱȱȱǯȱ
ǰȱȱȱȱěȱȱ¢ȱ¢ȱǰȱ ȱȱ¢ȱȱ¢Ȃȱ
control. Such unforeseen events may have an adverse impact on the Company’s business results.
(3) Laws and Regulations, Litigation, etc.
ȱ ȱȱ ǰȱȱȱȱ
As the Company conducts business in Malaysia and globally, it complies with all laws, rules and regulations of Malaysia and the
countries in which the Company exports its products and purchases its raw materials. However, new legal requirements may
be introduced that cannot currently be foreseen, which the Company may not be in a position to meet immediately or within a
stipulated period. The Company’s operations and business results may be impacted.
Outlook
The Malaysian economy is expected to grow at a steady pace in the coming year mainly driven by the private sector, which is being
supported by continued income and employment growth. However, the domestic economic growth may encounter challenges from the
uncertainties in developed economies and the escalating trade tensions, which could impede global trade and growth.
ȱ¢ȱ¡ȱȱȱ¢ȱĚǰȱ¢ȱȱȱȱȱȱ ȱȱȱȱ
ȱǯȱȱ¢ȱ ȱ¢ȱȱȱěȱȱȱȱȱȱ¢ȱȱȱ¡ȱȱ
ȱ ȱȱȱȱȱȱȱȱ ȱȱęǯ
For the Consumer Business segment, we will sustain the Company’s market leader position of AJI-NO-MOTO® through successful
ȱȱȱȱȱěȱȃǰȱǰȱǷȄȱȱȱȱ¢ȱȱȱ ȱȱȱ
intake and sharing of positive information on monosodium glutamate on social media. In addition to strengthening the sales of
other seasoning products such as TUMIX®, SERI-AJI® and AJI-SHIO® in the household and food service market, we will expand the
distribution of our newly launched product, namely, RASA SIFU™, to delight family households and consumers with delicious new
taste and convenience in cooking.
For the Industrial Business segment, we will further leverage on our in-house specialty technologies acquired from our parent company
and increase sales for our major products, namely, TENCHO and ACTIVA® TG, by expanding their distribution to our existing
customers while developing new customer base including gaining share of the new dairy industry sector.
ȱ ȱ ȱ ȱ ȱ Ĝ¢ȱ ȱ ę¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
operational cost reduction. At the same time, Management will continue to uphold the Ajinomoto Group Shared Value to guide the
Company in its contribution to society in areas related to healthy living, global sustainability and food resource as a responsible
corporate citizen.
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ANNUAL REPORT 2019
DIRECTOR’S PROFILE
General Tan Sri (Dr.) Dato’ Paduka

ȱ ȱ
ȱȱǯȱȱǻǼȱ
Chairman, Independent Non-Executive Director
84 years old – Malaysian
Male
General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd.
Ali (Rtd) was appointed as the Chairman of Ajinomoto (Malaysia)
Berhad on 5 September 1995. He resigned as the Chairman of the Audit
ĴȱȱŗȱȱŘŖŖŘȱȱȱȱȱĴȱǯȱ

ȱȱȱȱȱȱȱĴȱȱȱȱȱȱ
ȱĴǯȱ
ȱĴȱȱęȱǻśǼȱȱȱȱȱ
ȱęȱ¢ǯ
He holds a Diploma In Advance Business Management from the

Harvard Business School. He was conferred the Honorary Doctorate
by the University of Salford, United Kingdom in January 1999 and the
Honorary Doctorate by the Malaysian National Defence University in
October 2012. He is also a member of the Selangor Royal Court (Ahli
Dewan DiRaja Selangor) since 1 January 2005.
Prior to his entry into the corporate world, General Tan Sri (Dr.) Dato’
Paduka Mohamed Hashim bin Mohd. Ali (Rtd) was the Chief of the
Defence Forces in the Malaysian Armed Forces where he chalked up 40
years of dedicated service. During his tenure in the Malaysian Armed
Forces, he had initiated the re-organisation and modernization of the
Army.
He is the Chairman of Datasonic Group Berhad and Fusang Exchange

ǯȱ
ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ
Glutamate Science Southeast Asia/South Asia, whose member countries
are Thailand, Indonesia, Philippines, Vietnam and Malaysia. He is also
the Chairman of a private company namely National Aerospace &
Defence Industries Sdn Bhd. He also sits on the Board of the Institute of
Strategic and International Studies (ISIS Malaysia) as well as some other
private companies.

ȱȱȱĚȱȱȱ ȱȱ¢ȱȱ¢ȱ¢ȱȱ
with any other Director or shareholder of the Company. He has also
ȱ ȱ ȱ ȱ ¢ȱ ěȱ ȱ ȱ ȱ ęȱ ǻśǼȱ ¢ȱ
ȱ ȱ Ĝȱ ěǰȱ ȱ ¢ǰȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
¢ȱȱ¢ȱȱȱ¢ȱȱȱȱęȱ
year.
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ANNUAL REPORT 2019
Director’s Proﬁle (cont’d.)
Tan Sri Dato’ (Dr.) Teo Chiang Liang

Independent Non-Executive Director
68 years of age – Malaysian
Male
Tan Sri Dato’ (Dr.) Teo was appointed to the Board of Ajinomoto (Malaysia) Berhad
ȱŘŞȱȱŘŖŖŗǯȱ
ȱ ȱȱȱȱȱȱȱȱĴȱȱ
ŗȱ ȱ ŘŖŖŘǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ
ȱ Ĵǯȱ
ȱ Ĵȱ ȱ ęȱ ǻśǼȱ ȱ ȱ ȱ ȱ ȱ
ęȱ¢ǯ
Graduated with a Bachelor of Arts (Honours) degree in Business Studies and M.Sc
in Management & Administration from the United Kingdom, Tan Sri Teo obtained
his training from The Chartered Bank and Pillar Naco Ltd in UK. Since 1975, he
ȱ ȱ ȱ ȱ ȱ
¢ȱ ȱ
ȱ ǰȱ ȱ ȱ ęȱ ȱ
ȱ ǰȱ ȱ ěȱ ȱ ȱ ǯȱ ȱ ŗşşŖǰȱ ȱ ȱ ȱ ȱ
ęȱȱ ȱȱ¢ȱȱ¢ȱȱǯ
Tan Sri Teo was elected Secretary General of the Malaysian Association of Private
Colleges & Universities from 1997 to March 2003 and is currently its Vice-President.
He was appointed as member of the MSC Education Advisory Panel in 1998. He is

ȱȱȱȱȱȱ¢ȱȱȱ¢ǯȱȱŗşşŞǰȱȱĴȱ
Trent University in UK appointed Tan Sri Teo as Professor of the University and
awarded an honorary degree of Doctor of Business Administration to him in
2001. In 2006, Tan Sri Teo was elected as an Exco member of the Malaysian Crime
Prevention Foundation. Tan Sri Teo was an Independent Non-Executive Director
of RHB Capital Berhad from 20 May 2010 to 12 May 2016 and RHB Insurance
Berhad from 4 May 2010 to 3 August 2015.
Tan Sri Teo does not hold directorships in any other public company and listed
ǯȱ
ȱȱȱĚȱȱȱ ȱȱ¢ȱȱ¢ȱ¢ȱȱ
with any other Director or shareholder of the Company. He has also neither been
ȱ ȱ ¢ȱ ěȱ ȱ ȱ ȱ ęȱ ǻśǼȱ ¢ȱ ȱ ȱ ȱ Ĝȱ
ěǰȱȱ¢ǰȱȱȱ¢ȱȱȱȱ¢ȱȱ¢ȱ¢ȱ
ȱȱȱęȱ¢ǯ
Naoko Yamamoto
ȱ ȱǰȱȱ¡ȱĜ
52 years of age – Japanese
Female
ǯȱȱ ȱȱȱȱȦȱȱ¡ȱĜȱȱŗȱ
¢ȱŘŖŗŝǯȱȱĴȱȱęȱǻśǼȱȱȱȱȱȱęȱ¢ǯȱȱȱ
ȱȱȱȱ¢ȱȱĴǯ
Ms. Yamamoto graduated from Waseda University with a Bachelor Degree in

Political Science and Economics in March 1991.
She joined Ajinomoto Co., Inc. Japan in 1991 and has held various positions
mainly in business development, marketing and sales functions of consumer food
business in Japan and overseas within the Ajinomoto Group of Companies.
She does not hold directorships in any other public company and listed issuer. She
ȱȱĚȱȱȱ ȱȱ¢ȱȱ¢ȱ¢ȱȱ ȱ¢ȱ
other Director or shareholder of the Company. She has also neither been convicted
ȱ¢ȱěȱ ȱȱȱęȱǻśǼȱ¢ȱȱȱȱĜȱěǰȱȱ¢ǰȱ
nor received any public sanction or penalty imposed by regulatory bodies during
ȱęȱ¢ǯ
10
ANNUAL REPORT 2019
Shunsuke Sasaki
ȱ ¡ȱǰȱȱȱĜ
Male
Mr. Sasaki was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1 July
ŘŖŗşȱȱǰȱȱȱȱĴȱ¢ȱȱȱȱȱȱȱȱęȱ
¢ǯȱ
ȱȱȱȱȱȱ¢ȱȱĴǯ
Mr. Sasaki graduated with a Bachelor of Social Sciences Degree from the Faculty of
Social Sciences, Hitotsubashi University, Japan in year 2000.
He joined Ajinomoto Co., Inc. Japan in 2000 and began his career with the Tokyo
Branch and has held various positions in Japan within the Ajinomoto Group of
ǰȱ ȱȱŗśȱ¢ȱȱȱȱȱęǰȱ¢ǰȱȱȱ
tax.
He does not hold directorships in any other public company and listed issuer. He
other Director or shareholder of the Company. He has also neither been convicted
ȱęȱ¢ǯ
Koay Kah Ee
Male
Mr. Koay was appointed to the Board of Ajinomoto (Malaysia) Berhad on 15

ȱŘŖŖŝǯȱ
ȱȱȱȱȱȱȱĴǯȱ
ȱ ȱȱȱ
ȱȱȱȱĴȱȱȱȱȱȱŘŞȱ
¢ȱŘŖŗřǯȱ
ȱĴȱȱęȱǻśǼȱȱȱȱȱȱęȱ¢ǯ
He holds a Master in Business Administration from University of Strathclyde,

United Kingdom (UK). He is a fellow member of the Chartered Institute of
ȱȱǻǼǰȱ ǰȱ ȱȱȱȱȱęȱ
Practicing Accountants (CPA Australia), Chartered Accountant (CA) of the
Malaysian Institute of Accountants (MIA) and Chartered Global Management
Accountant (CGMA), member of the SOCSO Appellate Board (JRKS) of the
Ministry of Human Resources Malaysia and a CIMA Global Membership Assessor.
He is currently the Group Finance Director of a public company listed on the Main
Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). He also sits on
the Board of JF Technology Berhad, a company listed on the ACE Market of Bursa
Securities, and was appointed as a Director of Tashin Holdings Berhad on 18 April
2018.

ȱȱȱĚȱȱȱ ȱȱ¢ȱȱ¢ȱ¢ȱȱ ȱ
any other Director or shareholder of the Company. He has also neither been
ȱȱ¢ȱěȱ ȱȱęȱǻśǼȱ¢ȱȱȱȱĜȱěǰȱ
if any, nor received any public sanction or penalty imposed by regulatory bodies
ȱȱęȱ¢ǯ
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ANNUAL REPORT 2019
Dominic Aw Kian-Wee
Male
Mr. Aw was appointed to the Board of Ajinomoto (Malaysia) Berhad on 10

ȱ ŘŖŗŖǯȱ
ȱ ȱ ȱ ȱ ȱ ȱȱ Ĵǰȱ ȱ Ĵȱ
ȱȱĴǯȱ
ȱĴȱȱęȱǻśǼȱȱȱȱȱȱ
ęȱ¢ǯ
Mr. Aw holds a Bachelor of Law (Hons) degree from the University of Hull, North
Humberside, England and a Barrister-at-Law (Middle Temple) from the University
of Westminster, London, England.
He was a partner of Mazlan & Associates from 2003 to 2015 and has over 19 years
of working experience as an advocate and solicitor.
He also sits on the Board of Perusahaan Sadur Timah Malaysia (Perstima) Berhad.

ȱȱȱĚȱȱȱ ȱȱ¢ȱȱ¢ȱ¢ȱȱ ȱ¢ȱ
ȱęȱ¢ǯ
ȱ Ȃȱȱȱȱ
Male
Dato’ Setia Ramli was appointed to the Board of Ajinomoto (Malaysia) Berhad on
ŗȱȱŘŖŗŗǯȱ
ȱȱȱȱȱȱȱĴȱȱȱĴǯȱ

ȱĴȱȱęȱǻśǼȱȱȱȱȱȱęȱ¢ǯ
He graduated with a Bachelor of Arts (Honours) degree from University Malaya

in 1978 and also holds a Diploma in Public Management from the National
ȱȱȱǰȱęȱȱȱ ȱȱȱ
University of Birmingham, UK., MBA from University of Stirling Scotland, UK. He
had also undergone the Chevening Fellowship program in Public Sector Reform
from University of Bradford, UK.
He had served the Malaysian Government for over thirty (30) years. He began his
ȱȱȱȱȱ¢ȱȱ
ȱěȱȱȱȱȱȱ
in the Federal and Selangor State Governments. He also served as a Director of
¢ȱ¡ȱȱȱǻǼȱȱ¢ǰȱȱĜȱȱ
Gombak District, President of Majlis Perbandaran Ampang Jaya and Mayor of
Shah Alam. He had also held the position of the Selangor State Secretary. He is
currently the Chairman of Perbadanan Wakaf Selangor.
ȱęȱ¢ǯ
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ANNUAL REPORT 2019
ȱ ȱȱ
Executive Director
58 years of age - Malaysian
Male
En. Kamarudin was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1

ȱŘŖŗŘǯȱ
ȱĴȱȱęȱǻśǼȱȱȱȱȱȱęȱ¢ǯȱ
ȱȱ
ȱȱȱȱ¢ȱȱĴǯ
En. Kamarudin graduated with a Degree in Food Science and Technology from
University Putra of Malaysia in 1986.
He joined the Technical Department of Ajinomoto (Malaysia) Berhad in 1987. Over

the years he moved up the corporate ladder and served under various capacities.
ȱęȱ¢ǯ
Hiroki Suzuki
Executive Director
Male
Mr. Suzuki was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1 July
ŘŖŗŝǯȱ
ȱĴȱȱęȱǻśǼȱȱȱȱȱȱęȱ¢ǯȱ
ȱȱȱȱ
ȱȱ¢ȱȱĴǯ
He graduated from the School of Commerce, Waseda University, Japan in March

1999.
Mr. Suzuki joined Ajinomoto Co., Inc. Japan in 1999 and began his career with the
¢ȱȱȱȱȱȱȱȱ
ȱĜǯ
ȱęȱ¢ǯ
13
ANNUAL REPORT 2019
Miki Moriyama
Executive Director
Male
Mr. Moriyama was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1

¢ȱŘŖŗŞǯȱ
ȱĴȱȱȱǻřǼȱȱȱȱȱȱȱȱ
ȱǯȱ
Mr. Moriyama graduated from the School of Industrial Administration (Master

Course), Tokyo University of Science, Japan in year 1993.
He joined Ajinomoto Co., Inc. Japan in 1993 and began his career in Production
Technology Lab IE Technology Section and has held various positions in Japan and
overseas within the Ajinomoto Group of Companies.
ȱęȱ¢ǯ
Azhan Bin Mohamed

Executive Director
Male
En. Azhan was appointed to the Board of Ajinomoto (Malaysia) Berhad on 15

ȱŘŖŗŞǯȱ
ȱĴȱ ȱǻŘǼȱȱȱȱȱȱȱ
ȱȱǯȱ
He graduated from University Putra Malaysia with a Bachelor of Food Science and
Technology in 1990.
He joined the Production Department of Ajinomoto (Malaysia) Berhad in February

1991 and over the years he moved up the corporate ladder and served under
various capacities.
ȱ¢ȱěȱ ȱȱęȱǻśǼȱ¢ȱȱȱȱĜȱěǰȱȱ¢ǰȱȱ
received any public sanction or penalty imposed by regulatory bodies during the
ęȱ¢ǯ
14
ANNUAL REPORT 2019
CORPORATE GOVERNANCE
OVERVIEW STATEMENT
The Board of Directors of the Company (“the Board”) recognises the importance of maintaining high standards of corporate
governance within the Company as this would serve to protect shareholders’ value while at the same time preserving the interests of
ȱ¢Ȃȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱȱęȱȱ
but also through being ethical and sustainable.
ȱȱȱĴȱȱȱ¢ȱȱȱȱěȱȱȱ¢ȱ ȱ¢ǰȱ¢ȱȱ¢ȱ¢ȱ
ensuring that a sound framework of best corporate governance practices is in place and thus discharging its responsibility towards
protecting and enhancing long-term shareholders’ value and investors’ interest.
In establishing the Company’s Corporate Governance framework, the Board takes cognizance of the Malaysian Code on Corporate
Governance (“MCCG”) that was issued on 26 April 2017. An overview statement on the corporate governance practices of the
¢ȱ ȱ ȱ ęȱ ¢ȱ ȱ řŗȱ ȱ ŘŖŗşȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ
published on the Company’s website at www.ajinomoto.com.my.
PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS
ŗǯŖȱ Ȃȱȱȱȱȱ
1.1 The Board is responsible for the leadership and long-term success of the Company and the delivery of sustainable value to its
ǯȱȱȱȱę¢ȱȱȱȱǰȱȱȱȱȱ¢ȱȱȱǰȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ
ȱȱȱȱĴǰȱȱȱǻȃMDȄǼȦȱ¡ȱĜȱǻȃCEO”) and Management.
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
¢ȱȱę¢ȱȱȱǯȱȱȱȱȱȱȱȱȱ¢ǰȱ¡ȱȱȱȱȱȱ
the appropriate tone at the top, while providing thought leadership and championing good governance and ethical practices
throughout the Company.
ȱ ȱȱȱȱȱ¢ȱȱ¢ȱȱȱę¢ȱȱȱȱȱȱȱȱȱȱ
interests of the Company to oversee the conduct, business activities and development of the Company. The Board evaluates
ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱĴȱȱȱȱ
programmes necessary to keep abreast on issues and challenges arising from the changing business environment within which
the Company operates.
ȱ ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱȱȱĴȱȱ ȱȱȱȱȱ
with Paragraph 15.08 of the Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“Main
LR”):-
ȱȱȱ ȦȱĴȱ
ȱȱȱǻǯǼȱȂȱȱȱ Ȋȱ ȱȱȱşȱǭȱȱŗś
ȱ
ȱȱǯȱȱǻǼȱ Ȋȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
Directors
ȱ ȱ ȱ ȱ Ȋȱ ȱ¢Ǳȱȱ
ȱȱȂȱǻǯǼȱȱȱȱ Ȋȱ ȱ¢Ǳȱȱ
ȱȱ Ȋȱ ȱ¢Ǳȱȱ
ȱ ȱ ȱ ȱ Ȋȱ ȱȱȱ¢ȱȱǭȱ
ȱȱ Ȋȱ ȱ¢Ǳȱȱ
ǻȱȱřŖȱȱŘŖŗşǼȱ Ȋȱ ȱȱȱȱ ȱ¢
15
ANNUAL REPORT 2019
Corporate Governance Overview Statement (cont’d.)
PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS (cont’d.)
ŗǯŖȱ Ȃȱȱȱȱȱ ȱǻȂǯǼ
ȱȱȱ ȦȱĴȱ
¢ȱ ȱȱ ȱ Ȋȱ ȱ¢Ǳȱȱ

ȱ ȱ ȱ ȱ Ȋȱ ¢ȱȱ
ȱ ȱ ȱ ȱ Ȋȱ ȱ
ȱ ȱ ȱ ȱ Ȋȱ ŘŖŗşȱȱ¡ȱ
ȱ ȱ Ȭȱ Ȋȱ ȱ¢Ǳȱȱ

ȱ ȱ ȱ ȱ Ȋȱ Ȃȱȱȱ¢ȱȱȱȱȱȱŘŖŗŜǰȱȱ
Malaysian Code on Corporate Governance and Bursa Malaysia Securities
Berhad Main Market Listing Requirements
Ȃȱȱȱȱȱ Ȋȱ ȱ¢Ǳȱȱ
ȱȱȱ Ȋȱ ȱ¢Ǳȱȱ

ȱ£ȱ ȱ Ȋȱ ȱ¢Ǳȱȱ
ȱ¢ȱȱ Ȋȱ ¢ȱȱ
£ȱȱȱ Ȋȱ ¢ȱȱ
ȱȱȱęȱǻśǼȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǯ
To enable the Board to discharge its responsibilities in meeting the goals and objectives of the Company, the Board has, amongst
others –
Ȋȱ ȱȱȱȱȱ ȱȱ¢ȱ ȱȱǰȱȱȱȱ
conduct;
Ȋȱ ǰȱȱȱȱȱȂȱȱȱȱ¢ǰȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱ¢ȱȱȬȱȱȱȱȱȱȱǰȱ
environmental and social considerations underpinning sustainability;
Ȋȱ ȱȱǲ
Ȋȱ ȱȱȱȱȱ ȱȱȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱ¢Ȃȱȱȱȱȱȱȱȱȱȱȱ
risks;
Ȋȱ ȱȱȱȱ ȱ ȱȱȱ¡ȱȱȱȱȱȱȱȱȱȱȱȱ
ȱ ȱȱ¢ǰȱ¢ǰȱǰȱȱȱȱęȱęȱȱȬęȱǲ
Ȋȱ ȱȱȱȱȱȱ¢ȱȱȱ¡ǰȱȱȱȱȱȱȱȱȱȱ
orderly succession of Board and senior management;
Ȋȱ ȱȱȱ¢ȱȱȱȱȱȱȱěȱȱ ȱȱȱǲȱ
and
Ȋȱ ȱȱ¢ȱȱȱ¢ȂȱęȱȱȬęȱǯ
1.2 The Chairman of the Board has –
Ȋȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱě¢ǲ
Ȋȱ ȱ ȱ ȱ ȱ Ĝȱ ǻȃCFO”) and Company Secretaries, set the Board agenda and ensured that Board
members receive complete and accurate information in a timely manner;
Ȋȱ ȱȱȱȱǲ
Ȋȱ ȱȱȱȱ ȱȱ ȱȱȱ¢ȱ¡ǲ
Ȋȱ ȱȱȱ ȱȱȱǲ
Ȋȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
communicated to the Board; and
Ȋȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ǯ
16
ANNUAL REPORT 2019
ŗǯŖȱ Ȃȱȱȱȱȱ ȱǻȂǯǼ
ŗǯřȱȱ ȱȱȱȱȱȱȦȱȱȱ¢ȱ ȱěȱȱȱȱȱȱȱȱȱȱ
responsibilities to ensure that there is a balance of power and authority to promote accountability. The Chairman is responsible
ȱȱȱȱȱȱȱǰȱȱȱȱȱěǯȱȱȱȱ
the Board in its collective oversight of Management, while the MD/CEO has the overall responsibilities over the Company’s
ȱǰȱȱěȱȱȱȱȱȱȱǯȱȱȱȱȱ
ȱȱȱȱȱȦȱȱ¢ȱęȱȱȱȱȱȱȱȱȱȱȱȱĴȱ
powers of decision-making.
ŗǯŚȱȱ ȱ¢ȱȱȱ¢ȱ ȱǻŘǼȱ¢ȱęȱȱȱ¢ȱǯȱȱ¢ȱȱȱ
ęȱȱȱȱȱŘřśǻŘǼǻǼȱȱȱȱȱŘŖŗŜȱȱȱ ȱȱȱȱ¢ȱ
Association of the Institute of Chartered Secretaries and Administrators (“MAICSA”). The Company Secretaries are external
company secretaries from Securities Services (Holdings) Sdn. Bhd. with vast knowledge and experience from being in public
practice and is supported by a team of competent company secretarial personnel.
The Company Secretaries have –
Ȋȱ ȱ ȱǰȱȱȱȱȱȱĴȱȱǲ
Ȋȱ ĴȱȱȱȱȱȱȱȱȱĴȱȱȱȱȱȱȱ
in person or through its representative;
Ȋȱ ȱȱȱȱȱȱȱǲ
Ȋȱ ȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱȱ ȱ¢ȱȱȱȂȱȱȱ
Listing Requirements;
Ȋȱ ȱȱȱȱȱ¢Ȭȱȱ ȱȱǻȃ57th AGM”); and
Ȋȱ ȱȱȱȱȱȱȱȱȱȱǯ
ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ¢ȱ
ǰȱȱȱǰȱȱǰȱȱȱȱĴǰȱȱ ȱȱȱȱ¢ȱǰȱ
ȱȱȱȱ¢ȱǯȱ¢ȱȱȱĴȱȱȱȱȱ
programmes as required by MAICSA for practicing Chartered Secretaries.
ȱ ȱȱȱęȱ ȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱȱ
its function, duties and responsibilities.
ŗǯśȱȱ ȱȱȱȱȱȱȱȱęȱǻśǼȱȱ¢ȱȱȱȱȦȱĴȱǯȱȱ
ȱȱȦȱĴȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ
ȱȱ¢ȱȱęȱȱȱ¢ȱȱȱȱȦȱĴȱȱȱȱǯ
ŘǯŖȱ ȱȱ
2.1 The Board has a Board Charter, which is published on the Company’s website at www.ajinomoto.com.my, which was reviewed,
updated and approved by the Board on 24 May 2018. The Board Charter clearly sets out the Board’s strategic intent and
ęȱȱȱȱȱȱȱȱǰȱȱĴǰȱȱǰȱȱȱ
Director and senior management, as well as issues and decisions reserved for the Board, the Board’s governance structure and
¢ǰȱȱȱȱȱȱȱǰȱȱĴȱȱȱǯȱȱȱȱȱȱȱȱ
and senior management acting on behalf of the Company are aware of their duties and responsibilities.
ȱ ȱȱȱȱěȱȱȱȱěȱȱȱȱǰȱȱȱȱȱȱȱȱȱ
ȱȱǻřǼȱȱȱȱĴǰȱ¢ǰȱȱĴȱǻȃACȄǼǰȱȱĴȱǻȃNC”), and Remuneration
ĴȱǻȃRCȄǼǯȱȱĴȱȱȱ ȱęȱȱȱȱȱȱȱȱȱ¢Ȃȱ
ěǰȱȱȱ ȱȱȱȱ¢ȱȱȱȱȱǰȱ ȱȱȱȱȱ¢Ȃȱ
website at www.ajinomoto.com.my together with the Board Charter. These Terms of Reference are reviewed as and when the
ȱǰȱȱ ȱ¢ȱȱȱĚȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱ
ǯȱȱȱȱȱȱȱȱȱȱȱȱȱĴǰȱȱĴȱȱ
ȱȱȱĴȱȱȱȱȱȱȱȱĴȱȱȱȱ¢ȱȱȱȱ
Ĵȱǰȱȱȱǯȱ
17
ANNUAL REPORT 2019
ŘǯŖȱ ȱȱȱǻȂǯǼ
AC
Details on the AC are in the AC Report contained in this Annual Report.
RC
Details on the RC are contained in the Corporate Governance Report.
NC
ȱȱ ȱȱ ȱ¢ȱęȱȱȱǰȱȱȱęȱǻśǼȱȬ¡ȱǰȱȱȱ ȱ
ȱȱȱȱȱŗśǯŖŞǻŗǼȱȱȱȱȱȱȱȱǰȱȱȱęȱ¢ȱȱřŗȱ
March 2019 as follows:-
Name Designation Directorship
Koay Kah Ee Chairman Independent Non-Executive Director
General Tan Sri (Dr.) Dato’ Paduka Member Independent Non-Executive Director
Mohamed Hashim bin Mohd. Ali (Rtd)
Tan Sri Dato’ (Dr.) Teo Chiang Liang Member Independent Non-Executive Director
Dominic Aw Kian-Wee Member Independent Non-Executive Director
Dato’ Setia Ramli bin Mahmud Member Independent Non-Executive Director
ȱ ȱȱȱȱȱȱǯȱ ¢ȱ ȱǰȱ ȱȱȱȱȱȱȱęȱ¢ȱȱȱȱ ȱ

concerns may be conveyed by shareholders and the general public. The role of Mr. Koay Kah Ee as the Senior Independent
Director are as follows:-
Ȋȱ ȱȱȱȱȱȱȱǲȱ
Ȋȱ ȱ¢ȱȱȱȱ ȱ¢ǲȱȱ
Ȋȱ ȱȱȱȱȱȱȱȱǯ
The NC is empowered by the Board to oversee the selection and assessment of Directors to be appointed to ensure that the Board’s
composition and skills meets the needs of the Company, and hence, is tasked with the following duties and responsibilities:-
Ȋȱ ȱȱȱȱȱȱǰȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱȱęȱȱȱȱȱĴǲ
Ȋȱ ȱ ȱȱȱȱȱȱǲ
Ȋȱ ȱ ȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ ȱ
members of the Board;
Ȋȱ ȱȱȱěȱȱȱȱȱȱĴȱȱȱȱȱȱ ǰȱȱȱȱǲ
Ȋȱ ȱ ȱȱȱȱĜȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ ȱȱȱ
and members have carried out their duties in accordance with their terms of reference;
Ȋȱ ȱȱȱȱ ȱȱȱȱȱǲ
Ȋȱ ȱȱȱ¡ȱȱȱĴȱȱȱȱȱǲȱ
Ȋȱ ȱȱ¢ȱȱĴȱȱęȱ¢ȱȱǯ
18
ANNUAL REPORT 2019
ŘǯŖȱ ȱȱȱǻȂǯǼ
Activities of the NC
ȱ ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱȱȱȱǻřǼȱȱȱȱȱ ȱȱȱȱȱȱ
duties and responsibilities: -
Ȋȱ ȱȱęȱȱȱȱ ȱȱǲ
Ȋȱ ȱȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱȱǰȱȱȱȱȱ ȱȱȱĴǲ
Ȋȱ ȱȱȱȱȬȱȱȬȱȱȱȱȱȱȱȱȱȱ
shareholders for approval;
Ȋȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
for approval;
Ȋȱ ȱȱȱȱȱȱǲȱ
Ȋȱ ȱȱȱȱĜȱȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱęȱȱȱȱ ȱȱǰȱȱȱȱȱȱȱ ȱǱȬ
Ȋȱ ȱ¡ǰȱȱȱ¡ǰȱ¢ȱȱǲȱ
Ȋȱ ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ ǲȱ
Ȋȱ ȱȱ¢ȱȱ ȱȱȱȱȱǯ
ȱ ȱȱȱȱȱȱǰȱȱĴȱȱȱȱȱ¢ǰȱȱȱȱȱȱ
the following:-
Ȋȱ ȱȦȱȱ
Ȋȱ ȱȱȱ¢Ȃȱ
Ȋȱ ȱȱȱȱȱǰȱȱȱȱȱȱǰȱȱȱȱȱȱȱ¢ȱ
ȱ ȱĴȱȱȱ ȱȱȱȱȱĴȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱȱ
below:-
Directors NC AC RC
Ȭ¡ȱ
General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim Bin Mohd Ali (Rtd) 3/3 5/5 2/2
Tan Sri Dato’ (Dr.) Teo Chiang Liang 3/3 5/5 2/2
Koay Kah Ee 3/3 5/5 Not member
Dominic Aw-Kian Wee 3/3 5/5 2/2
Dato’ Setia Ramli bin Mahmud 3/3 5/5 Not member
3.0 Good Business Conduct and Healthy Corporate Culture
řǯŗȱ ȱȱȱĴȱȱȱȱȱȱȱȱȱǯȱȱȱȱȱȱ
standards by adopting a Code of Conduct, which summarises what the Company must endeavour to do proactively in order
to increase corporate value, and which describes the areas in daily activities that require caution in order to minimise any
risks that may occur. The Company’s Code of Conduct covers ethical behaviour in all aspects of the Company’s business
operations, which includes areas concerning provision of safe, high-quality products and services, social contribution activities,
conservation of the environment, respect for human rights and ensuring of workplace safety, responsibilities to shareholders,
fair and transparent transactions and protection and management of Company assets and information.
The said Code of Conduct is published on the Company’s website at www.ajinomoto.com.my.
Employees are made aware that relevant disciplinary actions will be taken for unethical behaviour and gross misconduct.
19
ANNUAL REPORT 2019
3.0 Good Business Conduct and Healthy Corporate Culture (cont’d.)
3.2 The Board has put in place a whistleblowing policy to encourage its employees to report genuine concerns in relation to breach
of any legal obligation (including negligence, criminal activity, breach of contract and breach of the law), miscarriage of justice,
danger to health and safety or to the environment and the cover-up of any of these in the workplace. The whistleblowing policy
of the Company provides guidance on the appropriate communication and feedback channels to facilitate whistleblowing.
ŚǯŖȱ Ȃȱ¢
Śǯŗȱ ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱȱȱ¡ȱǻŜǼȱ¡ȱȱȱęȱǻśǼȱȱ

Non-Executive Directors. The composition of the Board complies with Paragraph 15.02 of the Main LR which stipulates that the
Company must ensure that at least two (2) Directors or 1/3 of the Board, whichever is the higher, are Independent Directors.
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱ ȱȱȱęȱǻśǼȱ
Independent Non-Executive Directors on the Board provides adequate check and balance of power and authority and is able
ȱȱȱȱȱȱȱȱĜ¢ȱȱȱȱȱȱȱ¢ǯȱǰȱȱȱ
Chairman of the Board is independent, the Chairman of the Board provides the strong leadership necessary to marshal the
Board’s priorities objectively.
ŚǯŘȱ ȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱǻǯǼȱȂȱȱȱ

ȱȱǯȱȱǻǼȱȱ
Tan Sri Dato’ (Dr.) Teo Chiang Liang were the Independent Directors of the Company who had each served the Board for a
cumulative term of more than twelve (12) years, while Mr. Koay Kah Ee was the Independent Director of the Company who
had served the Board for a cumulative term of more than nine (9) years.
In line with the MCCG, the retention of General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali (Rtd), Tan Sri
Dato’ (Dr.) Teo Chiang Liang and Mr. Koay Kah Ee as Independent Directors of the Company were tabled to the shareholders
for approval at the 57th AGM of the Company held on 27 August 2018, and the shareholders approved the same.
ȱ ȱȱȱȱȱȱ£ȱȱȱȱ ȱ ȱěȱȱ¢ȱŘŖŗŞǰȱȱȱȱ ȱȱȱȱ
retain General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali (Rtd) and Tan Sri Dato’ (Dr.) Teo Chiang Liang
as Independent Directors of the Company, the Board should seek annual shareholders’ approval through a two-tier voting
process. Shareholders’ approval through the two-tier voting process was sought accordingly at the 57th AGM of the Company
held on 27 August 2018.
As Mr. Koay Kah Ee’s cumulative term of more than twelve (12) years would only crystallise on 15 November 2019, his retention
as an Independent Director was through the usual voting process i.e., two-tier voting is not necessary.
The NC and the Board have assessed the independence of General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali
(Rtd), Tan Sri Dato’ (Dr.) Teo Chiang Liang and Mr. Koay Kah Ee, and have recommended that they be retained as Independent
Directors of the Company as they continue to bring independent and objective judgement to Board deliberations and continue
to meet the following criteria for independence in discharging their roles and functions as Independent Directors of the
Company:-
Ȋȱ ęȱȱȱȱȱęȱȱȱȱȱȱȱȱŗǯŖŗȱȱȱȱǲ
Ȋȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ ǰȱ
objectivity or his ability to act in the best interests of the Company;
Ȋȱ ȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
Ȋȱ ȱȱȱȱ¢ȱęȱȱȱȱǰȱ ȱȱȱǰȱ ȱȱȦȱ
and Executive Directors, major shareholders or Management of the Company (including their family members) other than
normal engagements and interactions on a professional level consistent with his duties and expected of him to carry out
his duties as an independent director; and
Ȋȱ ȱȱ¢ȱȱȱȱęȱȱȱȂȱȱȱȱȱȱȱȱ
are approved by shareholders.
4.3 The Board has not adopted a policy which limits the tenure of its Independent Directors to nine (9) years.
20
ANNUAL REPORT 2019
ŚǯŖȱ Ȃȱ¢ȱǻȂǯǼ
4.4 The Board is supportive of the Board and senior management composition diversity recommendation promoted by the MCCG
ȱȱȱěȱȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱ
The Directors and senior management are recruited based on objective criteria, merit and with due regard for diversity in skills,
experience, age, cultural background and gender.
The Board appoints its members through a formal and transparent selection process. The new appointees will be considered
and evaluated by the NC and the NC will then recommend the candidates to be approved and appointed by the Board. The
Company Secretaries will ensure all appointments are properly documented. This process was applied for the appointment
ȱǯȱȱ¢ȱȱȱ£ȱȱȱȱȱȱȱ¢ȱȱȱęȱ¢ȱȱřŗȱȱ
2019.
The Company is an equal opportunity employer and does not practice discrimination of any form, whether based on age,
gender, race and religion, throughout the organisation.
4.5 The Board practises non-gender discrimination and endeavours to promote workplace diversity and supports the representation
of women in the composition of Board and senior management positions of the Company. The gender diversity policy of the
Board has been incorporated in the Company’s Board Charter.
The Board, assisted by Management, is responsible for developing strategies to meet the objectives of gender diversity, and
monitoring the progress of achieving the objectives through the monitoring, evaluation and reporting mechanisms. These
gender diversity strategies include:-
(a) recruiting from a diverse pool of candidates i.e., from Director’s registry, open advertisement or by the use of independent
ȱęȱȱȱǰȱȱȱǲȱ
(b) reviewing succession plans to ensure an appropriate focus on gender diversity;
ǻǼȱ ¢ȱęȱȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ǲȱ
(d) developing programs to develop a broader pool of skilled and experienced senior management and Board candidates,
including, workplace development programs, mentoring programs and targeted training and development; and
(e) any other strategies the Board develops from time to time.
Currently, there is only one (1) female Director on the Board namely, Ms. Naoko Yamamoto after the resignation of Ms. Yukiko
Nishioka as a Director of the Company on 30 June 2019.
ŚǯŜȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱęȱ¢ȱ
ended 31 March 2019, namely, Mr. Miki Moriyama and Encik Azhan bin Mohamed, who were all recommended by the major
shareholder and the Management, Board decisions were still made objectively in the best interests of the Company taking into
account their potential to contribute to the Board.
ȱ ȱȱ ȱȱȱȱȱȱ¢ȱ¢ȱęȱȱ ȱȱȱȱȱȱ
future.
4.7 The NC is chaired by Mr. Koay Kah Ee, the Senior Independent Director appointed by the Board. The NC Chairman has led the
ȱ ȱȱȱěǰȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ
will lead the succession planning and appointment of future Board members.
śǯŖȱ ȱěȱȱȱ
śǯŗȱ ȱȱǰȱȱȱǰȱȱȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǱȬ
(i) Directors’ self-assessment;

ǻǼȱ ȱȱȱěȱȱȱȱȱȱ ȱȱȱĴǲ
(iii) Assessment of Independent Directors; and
ǻǼȱ ȱȱȱȱȱĜȱȱȱȱȱȱȱȱȱǯ
21
ANNUAL REPORT 2019
śǯŖȱ ȱěȱȱȱȱǻȂǯǼ
ȱ ȱȱȱȱȱǰȱȱȱȱ ȱȱȱĴȱȱȱȱȱȱȱ
system, which commences with the completion of a set of comprehensive Self-Assessment Form detailing all assessment criteria
to be completed by all Directors for evaluation by the NC. Criteria for the self-assessment includes self-ratings on the Director’s
knowledge, support of the mission and goals of the Company, time commitment, and active participation on the Board.
ŜǯŖȱ ȱȱȱȱ
Ŝǯŗȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
adopted Policies and Procedures to Determine the Remuneration of Directors and senior management which takes into
account the demands, complexities and performance of the Company as well as skills and experience required to determine the
remuneration of Directors and senior management. The said policies and procedures are available on the Company’s website
at www.ajinomoto.com.my.
6.2 The Board has a RC that assists the Board in implementing its policies and procedures on remuneration, which includes
reviewing and recommending the proposed remuneration packages of the Directors of the Company. The RC also assists the
Board to structure and link Directors’ remuneration to the strategic objectives of the Company, which rewards contribution to
the long-term success of the Company in promoting business stability and growth.
The Terms of Reference of the RC is published on the Company’s website at www.ajinomoto.com.my.
The RC is chaired by General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali (Rtd), the Independent Chairman of
the Board. The RC currently consists of all Independent Non-Executive Directors, which is in line with the MCCG.
ŝǯŖȱ ȱȱȱȱȱ
ŝǯŗȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱ ǱȬ
Executive Directors
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę
ȱ ȱȱ ȱȱ ȱ ȱ ȱ ȱ ę
director emoluments Fees* Bonus Gratuity# plan in-kind
Company RM RM RM RM RM RM
Naoko Yamamoto 590,502 27,000 90,441 10,800 - 132,296
Yukiko Nishioka 483,199 27,000 90,441 10,800 - 72,831

(resigned on 30 June 2019)
Kamarudin bin Rasid 266,750 27,000 99,231 10,800 74,259 12,547
Hiroki Suzuki 609,745 27,000 90,441 10,800 - 80,396
Miki Moriyama 511,621 20,250 30,414 8,100 - 53,935

(appointed on 1 July 2018)
Azhan bin Mohamed 101,173 14,625 15,565 5,850 33,071 5,820

(appointed on 15 September 2018)
Kinji Yamashita 135,259 6,750 59,780 2,700 - 20,811

(resigned on 30 June 2018)
Azharudin bin Ab. Ghani 137,815 12,375 108,401 4,950 118,675 3,618
(resigned on 15 September 2018)
22
ANNUAL REPORT 2019
ŝǯŖȱ ȱȱȱȱȱȱǻȂǯǼ
Non-Executive Directors
ȱ ȱȱȱ ȱ ȱ ȱ ȱ ȱ ę

director Fees* Gratuity# emoluments^ in-kind
Company RM RM RM RM
General Tan Sri (Dr.) Dato’ Paduka 90,000 36,000 31,800 81,832
Tan Sri Dato’ (Dr.) Teo Chiang Liang 45,000 18,000 21,800 -
Koay Kah Ee 35,000 14,000 21,800 -
Dominic Aw Kian-Wee 35,000 14,000 21,800 -
Dato’ Setia Ramli bin Mahmud 35,000 14,000 21,800 -
* Subject to shareholders’ approval at the 58th AGM of the Company.

# Based on the Company’s current remuneration policy, all Directors are entitled to receive gratuity payment upon their resignation or
ȱȱĜǯȱȱ¢ȱ ȱȱȱȱȱȱ¢ȱȱȱȱȂȱȱȱĜǰȱȱǰȱ
ȱȱ¢ȱ ȱȱȱȱȱęȱȱȱȱȱęȱ¢ȱȱȱȱȱȱȱ¢ǯ
Ǆȱ ǰȱȱ ȱȱȱȱȱ¢ȱȱȱȱśŝth AGM of the Company.
ŝǯŘȱ ȱȱęȱǻśǼȱȱȂȱȱȱȱ¢ǰȱǰȱęȱȬȱȱȱȱ
in bands of RM50,000/-, are as follows:-
ȱ ȱȱ ȱȱȱęȱǻśǼȱȱ
ȱ ŚśŖǰŖŖŗȬśŖŖǰŖŖŖȱ ȱȱȱȮȱ¡ȱǰȱȱȱĜ
ȱ ŜŖŖǰŖŖŗȬŜśŖǰŖŖŖȱ ȱ¢ȱȬȱ¡ȱǰȱȱ¢ȱȱĜ
ȱ ŜśŖǰŖŖŗȬŝŖŖǰŖŖŖȱ ȱȱȮȱ¡ȱǰȱȱȱĜ
ȱ ŞŖŖǰŖŖŗȬŞśŖǰŖŖŖȱ
ȱ£ȱȬȱ¡ȱǰȱȱȱȱȱĜ
ȱ ŞśŖǰŖŖŗȬşŖŖǰŖŖŖȱ ȱȱȬȱȱǰȱȱ¡ȱĜ
7.3 Members of senior management of the Company are also Executive Directors of the Company and their detailed remuneration
are disclosed as above.
PRINCIPLE B : EFFECTIVE AUDIT AND RISK MANAGEMENT
ŞǯŖȱ ěȱȱȱ
8.1 The Chairman of the AC is Tan Sri Dato’ (Dr.) Teo Chiang Liang, an Independent Non-Executive Director, while the Chairman
of the Board is General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali (Rtd), also an Independent Non-Executive
ǯȱȱȱȱȱ¢ȱȱȱȂȱ ȱȱȱȂȱęȱȱȱȱȱǯȱ
This separation is set out clearly in the Terms of Reference of the AC.
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ANNUAL REPORT 2019
PRINCIPLE B : EFFECTIVE AUDIT AND RISK MANAGEMENT (cont’d.)
ŞǯŖȱ ěȱȱȱȱǻȂǯǼ
Şǯŗȱ ȱȱȂȱǻǯǼȱȱȱȱȱȱȱȱȱȱěȱȱȱȱȱǯȱȱ
with other members of the AC, Tan Sri has ensured amongst others that -
ǯȱ ȱȱȱ¢ȱȱȱęȱĴȱȱȱȱ¢Ȃȱȱȱȱęȱȱȱȱ
Ĵȱȱǲ
b. the AC appropriately communicates its insights, views and concerns about relevant transactions and events to Internal
and External Auditors;
ǯȱ ȱȂȱȱȱĴȱȱ¢ȱȱȱěȱȱȱęȱȱȱȱȱ¢ȱȱȱȱȱ
External Auditors; and
d. there is co-ordination between Internal and External Auditors.
8.2 Before appointing a former key audit partner of the Company’s External Auditors as a member of the AC, the AC has adopted
the Policies and Procedures to Assess the Suitability, Objectivity and Independence of External Auditors, that requires a cooling-
ěȱȱȱȱȱ ȱǻŘǼȱ¢ȱȱȱȱ¢ȱȱȱ¢ȱȱȱȱȱ¢Ȃȱ¡ȱȱȱ
being appointed as a member of the AC. This is to safeguard the independence of the audit and preparation of the Company’s
ęȱǯ
8.3 In recommending the re-appointment of the External Auditors to the Board, the AC has established Policies and Procedures to
Assess the Suitability, Objectivity and Independence of External Auditors that consider amongst others:-
ǯȱ ȱǰȱȱ¢ǰȱ¡ȱȱȱ¢ȱȱȱ¡ȱȱȱȱěȱȱȱȱǲ
ǯȱ ȱȱęȂȱȱȱǲ
c. the adequacy of the scope of the audit plan;
d. the external auditor’s ability to meet deadlines in providing services and responding to issues in a timely manner as
contemplated in the external audit plan;
e. the nature and extent of the non-audit services rendered and the appropriateness of the level of fees; and
ǯȱ ȱ Ĵȱȱȱȱ¡ȱȱęȱȱ¢ȱǰȱȱȱǰȱȱȱ
the conduct of the audit engagement in accordance with the terms of all relevant professional and regulatory requirements.
ȱ ȱȱȱȱȱ¢ǰȱ¢ȱȱȱȱȱȱęȱȱȱ¢ǯȱȱȱ ȱ
ȱȱ ȱȱǯȱ
ęȱȱǭȱȱǻȃHRM”), the External Auditors had conducted itself objectively and
¢ȱȱ¢ȱȱȱȱȱȱ¢ȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱ ȱȱ
suitable to be re-appointed for the ensuing year and had recommended the same to the Board based on the followings additional
observations:-
Ȋȱ
Ȃȱȱȱ ȱȱ
Ȋȱ ȱȱȱȱȱȱȱȱęȱ
Ȋȱ
ȱȱȱȱ¢ȱ¢ȱȱȱ
Ȋȱ
ȱȱĜȱȱȱ¢ȱȱȱ
ȱ ȱ
Ȃȱȱȱȱȱȱȱȱęǰȱ
ȱȱȱ Ĵȱȱȱȱȱȱ¢ȱ ǰȱȱȱ
been, independent through the conduct of the audit engagement in accordance with By-Laws of the Malaysian Institute of
Accountants.
8.4 The AC comprises solely of Independent Directors in line with Practice 8.4 of the MCCG.
Şǯśȱ ȱ ȱ ȱ ȱȱ ȱ ę¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢Ȃȱ ȱ ȱ Ĵȱ ȱ ȱ
ȱȱȱȱȱȱęȱȱǯȱ¢ȱȱ¢ȱȱȱȱȱȱ ȱȱȱ
¢Ȃȱęȱȱǰȱȱȱȱęȱǰȱȱě¢ȱȱȂȱ
ȱȱȱ¢Ȃȱęǯȱ¢ȱȱȱȱȱȱęȱȱȱȱ ȱȱ
questioned to ascertain that the Quarterly Report and the annual Audited Financial Statements taken as a whole provide a true
ȱȱ ȱȱȱ¢Ȃȱęȱȱȱǯ
All members of the AC have also undertaken and will continue to undertake continuous professional development to keep
themselves abreast of relevant developments in accounting and auditing standards, practices and rules as and when required.
24
ANNUAL REPORT 2019
PRINCIPLE B : EFFECTIVE AUDIT AND RISK MANAGEMENT (cont’d.)
9.0 Risk Management and Internal Control
şǯŗȱ ȱȱȱȱ¢ȱȱȱȱĴȱ ȱȱȱȱ ȱȱȱǯǰȱȂȱȱ

ȱ ȱ¢ǯȱȱȱȱ ȱȱȱȱȱȱȱȱȱĴȱ
to identify, assess and monitor the key business risks of the Company in order to safeguard shareholders’ investment and the
Company’s assets.
ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ¢ȱ ȱ Ȧȱ ȱ ȱ ȱ ¢ȱ ȱ ěȱ ȱ ȱ ¢ǯȱ
Periodic Management meetings are conducted to deliberate the risk issues faced by the Company and the necessary actions to
ȱǯȱȱȦȱȱȱȱȱȱȱȱȱ¢ȱȱȱȂȱĴǯ
şǯŘȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ
Ĵǰȱ ȱȱȱȱȱȱȱǰȱȱȱȱȱȱȱ¢ǰȱęȱȱȱ
ȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱęȱȱ ȱęȱǯȱ
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱȱ¢ǰȱĜ¢ȱȱěȱ
of the Company’s internal control system. The Internal Auditors reports directly to the AC and internal audit plans are tabled
to the AC for review and approval by the Board to ensure adequate coverage.
The risk management and internal control are ongoing processes, which are undertaken at each department. The Company will
continuously enhance the existing system of risk management and internal control by taking into consideration the changing
business environment.
The review and periodic testing of the Company’s internal control and risk management framework are conducted as and
when required.
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱ ǰȱȱȱ¢ȱȱěȱȱ
this framework, are disclosed in the Statement on Risk Management and Internal Control in this Annual Report.
şǯřȱ ȱȱȱȱȱȱȱȱĴǰȱ ȱȱȱ¢ȱȱȱȱȱȱȱ
ȱȱĴȱȱȱȱȱȱȱȱȱȱ¢ȱȱȦȱȱȱȱȱ
ȱ¢ȱȱ¢ȱě¢ȱȱȱȱ¢ȱǯ
ŗŖǯŖȱ ěȱ ǰȱȱȱȱȱȱ
ŗŖǯŗȱ ȱȱȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱęȱȱȱȱȱȱȱ
Board in managing the risks and establishment of the internal control system and processes of the Company by providing an
ȱȱȱȱ¢ǰȱĜ¢ȱȱěȱȱȱ¢Ȃȱȱȱȱȱȱ
system and processes. The Internal Auditors reports directly to both the AC and the Board.
The Internal Auditors has and will continue to keep abreast with developments in the profession, relevant industry and
regulations.
The internal audit function is independent of the operations of the Company and provides reasonable assurance that the
¢Ȃȱ¢ȱȱȱȱȱ¢ȱȱȱě¢ǯȱ
Further details of the internal audit function are set out in the Statement on Risk Management and Internal Control and the AC
Report of this Annual Report.
ŗŖǯŘȱ ȱȱȱȱȱȱȱ¡ȱȱǯȱǯȱȱȱȱȱěȱȱȱȱȱ
ȱȱ¢ȱȱȱĚȱȱǰȱ ȱȱȱȱ¢ȱȱǯ
ȱ ȱěȱȱȱȱȱȱ ȱȱȱęȱȦȱȱ¢ȱǯȱȱěȱȱ
members of the Institute of Internal Auditors Malaysia. The Engagement Director is Mr. Mah Siew Hoong who has diverse
professional experience in internal audit, risk management and corporate governance advisory. He is a Chartered Member of
the Institute of Internal Auditors Malaysia, a member of the Malaysian Institute of Accountants and a Fellow Member of the
ȱȱȱęȱǰȱȱ ǯȱǯȱȱȱȱęȱȱȱǻǼȱȱȱȱ
ęȱȱȱȱȱǻǼǯȱ
The internal audit reviews were conducted using a risk based approach and was guided by the International Professional
Practice Framework (“IPPF”).
25
ANNUAL REPORT 2019
PRINCIPLE C : INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS
ŗŗǯŖȱ ȱȱ ȱȱ¢ȱȱ
ŗŗǯŗȱ ȱȱȱȱȱȱȱěȱȱȱȱȱȱȱȱǯȱȱǰȱ
ȱȱȱěǰȱ ¢ȱȱȱȱȱȱȱȱȱȱ¢Ȃȱȱȱȱ
development and ensure that the Company’s communication with them is transparent and timely. Announcements, news,
promotions and all relevant updates are posted on the Company’s website regularly. Shareholders may also communicate with
ȱ¢ȱȱȱȱĴȱ¢ȱȱȱȱȱȱ¢ȱȱȱ¢Ȃȱ ȱ¢ȱȱ
on its website. The Company will endeavour to reply to these enquiries in the shortest possible time.
11.2 The Company is not categorised as “Large companies” under the MCCG and hence, has not adopted integrated reporting based
on a globally recognised framework.
12.0 Encourage Shareholders Participation at General Meetings
12.1 The Company had provided all shareholders at least twenty-eight (28) days’ notice before the date of the 57th AGM last year and
will give all shareholders at least twenty-eight (28) days’ notice before the date of the 58th AGM this year.
The Notice of General Meeting provides detailed explanation for the resolutions proposed along with any background
information and reports or recommendation that are relevant, where required and necessary, to enable shareholders to make
informed decisions in exercising their voting rights.
ŗŘǯŘȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ Ĵȱ ȱ śŝth AGM of the Company held on 27 August 2018. During the 57th AGM,
ȱȦȱȱȱęȱȱȱȱ¢Ȃȱȱ¢ȱȱȱ ȱęȱ¢ǰȱȱ ȱȱ
Chairman invited questions from the shareholders present. The Board responded to the questions raised during the 57th AGM.
ȱ ȱȱȱȱȱ¢ȱȱȱ ȱ ¢ȱȱȱĴȱȱ ȱȱȱȱȱȱȱǰȱ
NC and RC will provide meaningful response to questions addressed to them.
12.3 Paragraph 8.29A of the Main LR requires that any resolution set out in the notice of any general meeting, or in any notice of
resolution which may properly be moved and is intended to be moved at any general meeting, is voted by poll for all general
meetings from 1 July 2016 onwards. The Company had conducted its voting on all resolutions at the 57th AGM held on 27
ȱ ŘŖŗŞȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĝȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ
engaged Securities Services (Holdings) Sdn. Bhd. to act as the Poll Administrator to provide the electronic polling system, while
Commercial Quest Sdn. Bhd. was the appointed scrutineer to verify the poll results.
Prior to implementing the voting in absentia and remote shareholders’ participation at general meetings as encouraged by the
ǰȱȱȱȱȱȱȱȱȱȱȱȱęȱȱȱȱȱǱȬ
Ȋȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ
and participation;
Ȋȱ ¢ȱȱ¢ȱȱǲ
Ȋȱ ě¢ȱȱȱ¢ȱȱǲȱ
Ȋȱ Ĝȱȱȱȱȱȱȱȱȱȱǲȱ
Ȋȱ ȱęȱȱȱǯȱ
In addition, the general meetings of the Company are always held in the Klang Valley in an accessible location. The Company
ȱȱȱŚǰŖŖŖȱǰȱȱǰȱ ȱȱȱěȱȱȱȱȱȱȱȱȱȱȱ
at general meetings, considering the costs involved and the current electronic voting technology available, the Board is of the
ȱȱȱȱȱ¢ȱęȱȱȱȱȱȱȱȱȂȱȱȱȱȱ
58th AGM of the Company.
Nonetheless, the Company will carefully consider all factors including all applicable requirements, necessary framework and
processes, as well as communication to shareholders, for implementation at the appropriate time.
The Corporate Governance Overview Statement and the Corporate Governance Report are made in accordance with a resolution of
the Board of Directors passed on 23 May 2019.
26
ANNUAL REPORT 2019
ADDITIONAL COMPLIANCE INFORMATION
ŗǯȱ ȱȱ
Not Applicable.
2. Audit and Non-Audit Fees
ȱ ȱȱęȱ¢ǰȱȱȱȱȱȱȱȬȱȱȱ¢ȱȱ¢ȱȱȱ¡ȱȱȱ
to RM128,000 and RM90,650 respectively.
3. Material Contracts
There are no material contracts entered into by the Company (not being contracts entered into in the ordinary course of business)
ȱȂȱȱȱȂȱȱ ȱ ȱȱǰȱȱȱȱȱȱȱęȱ¢ǯ
Śǯȱ ȱȱ¢ȱȱǻȃȄǼȱȱȱȱȱȱ
ȱ ȱȱȱȱ¢ȱȱ¢ȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱ ȱȱ ǱȬ
ȱ ǻǼȱ ȱȱȱ¢ȱ Ǳȱ ȱĜȱ
(b) Relationship : Ajinomoto Co., Inc. (“ǯ”) is the holding company of the Company and has
ȱȱřśȱȱ ȱȱȱȱȱĜȱȱ
wherein it owns direct and indirect shareholdings. This group of companies is
ȱȱȱȱĜȱǯȱ
Naoko Yamamoto, Yukiko Nishioka (resigned on 30 June 2019), Hiroki Suzuki

and Miki Moriyama who are Executive Directors of the Company, being persons
nominated and appointed by AjiCo., are deemed interested in the Proposed Renewal
of RRPT Mandate.
(c) Nature of transaction and transacted value:-
1 April 2018 to
31 March 2019
ȱ ȱ ȱȱȱ ȂŖŖŖ
Commission income 24
Royalties payable (9,722)
Sales 99,548
Purchases (165,900)
Purchases of assets (442)
Other expenses (676)
Shared information technology services (2,378)
27
ANNUAL REPORT 2019
STATEMENT OF DIRECTORS’ RESPONSIBILITY

In Relation To The Financial Statements
This statement is prepared as required by the Listing Requirements of Bursa Malaysia Securities Berhad.
ȱȱȱȱȱȱęȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱěȱȱȱ¢ȱȱȱ
ȱȱȱȱęȱ¢ȱȱȱȱȱȱȱĚ ȱȱȱ¢ȱȱǯ
ȱȱȱȱȱȱȱęȱǰ
- the Company has used appropriate accounting policies and are consistently applied;
- reasonable and prudent judgements and estimates have been made; and
- all applicable approved accounting standards in Malaysia have been followed.
The Directors are responsible for ensuring that the Company maintains accounting records that disclose with reasonable accuracy
ȱęȱȱȱȱ¢ǰȱȱ ȱȱȱȱȱȱȱęȱȱ¢ȱ ȱȱȱ
Act 2016.
The Directors have general responsibilities for taking such steps that are reasonably available to them to safeguard the assets of the
Company, and to prevent and detect fraud and other irregularities.
28
ANNUAL REPORT 2019
STATEMENT ON RISK MANAGEMENT

AND INTERNAL CONTROL
For the Financial Year Ended 31 March 2019
INTRODUCTION
The Board of Directors (“the Board”) of Ajinomoto (Malaysia) Berhad is pleased to present its Statement on Risk Management
ȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ řŗȱ ȱ ŘŖŗşǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŗśǯŘŜǻǼȱ ȱ
Bursa Malaysia Securities Berhad Main Market Listing Requirements (“Main LR”) and in accordance with the Statement on Risk
Management and Internal Control: Guidelines for Directors of Listed Issuers. The statement below outlines the nature and scope of
ȱȱȱȱȱȱȱ¢ȱȱȱęȱ¢ȱȱ ǯ
BOARD RESPONSIBILITY
ȱ ȱ ȱ ȱ ¢ȱ ȱ ȬĜȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
safeguard shareholders’ investments and the Company’s assets as well as reviewing the adequacy and integrity of the system of
internal control. The responsibility of reviewing the adequacy and integrity of the Company’s system of internal control is delegated
ȱȱȱĴǰȱ ȱȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱ
control system through independent reviews carried out by the internal audit function.
ǰȱȱȱȱȱȱȱ¢ȱ¢ȱȱȱǰȱȱ¢ȱȱȱěȱ¢ȱȱȱ¢ȱ
reduce but cannot eliminate all risks that may impede the achievement of the Company’s business objectives. Therefore, the internal
control system can only provide reasonable and not absolute assurance against material misstatement or loss.
KEY FEATURES OF THE COMPANY’S INTERNAL CONTROL SYSTEM
1. CONTROL ENVIRONMENT
ŏ Organisation Structure and Authorisation Procedures
ȱ ȱ¢ȱȱȱȱȱȱ ȱ Ȭęȱȱȱȱȱ¢ȱ
within the Company’s Senior Management. It sets out the roles and responsibilities, appropriate authority limits, review
and approval procedures in order to enhance the internal control system of the Company’s various operations.
ŏ Periodic and Annual Budget
The Company has a comprehensive budgeting and forecasting system. The annual business plan and budget are approved
by the Board and the holding Company. Budgetary control is in place for every operation of the Company, where actual
ȱȱ¢ȱȱȱȱȱ¢ȱȱȱȱęȱǯ
ŏ Company Policies and Procedures
The Company has documented policies and procedures that are regularly reviewed and updated to ensure that it maintains
ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ¢Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ
grow.
ŏ Human Resource Policy
Comprehensive and rigorous guidelines on employment, performance appraisal, training and retention of employees are
in place to ensure that employees of the Company are well trained and equipped with all the necessary knowledge, skills
ȱȱȱ¢ȱȱȱ¢ȱě¢ǯ
ŏ ¢ȱȱ
Quality of product is of prime importance to the Board. Compliance to procedures outlined in ISO9001:2015 and “Hazard
Analysis and Critical Control Point” (“HACCP”) accreditation to underpin quality assurance and control are strictly
adhered to via regular internal and external quality audits.
ŏ Regular Operational and Management Meetings
Monthly operational meetings are conducted among Senior Management to discuss and review the business plans,
ǰȱęȱȱȱȱȱȱ¢ǯȱ¢ȱȱȱ
ȱȱȱȱȱȱ
ȱȱǯȱȱ¢ȱęȱȱȱ¢ȱęȱȱȱȱȱȱ
to the Board for their review.
29
ANNUAL REPORT 2019
Statement On Risk Management

And Internal Control (cont’d.)
For The Financial Year Ended 31 March 2019
2. RISK MANAGEMENT FRAMEWORK
ȱ ȱȱ ȱȱȱ¢Ȃȱȱȱȱȱȱȱȱȱ¢ȱȱěȱȱ

ȱȱȱȱȱȱȱęȱȱ ȱęȱȱȱǯȱȱ
ȱ ȱȱȱĴȱ ȱȱȱȱ ȱȱȱȱ¢Ȃȱȱȱ ȱ
¢ȱȱȱ¢ȱȱȱȦȱ¡ȱĜȱȱȱȱ¢ȱȱěȱȱȱ¢ǯȱ
¢ǰȱȱȱȱȱęȱȱȱ¢ȱȱ¢ȱȱȱȱȱ ȱȱȱ
at each department. During the year under review, this process was carried out through periodic management meetings held
to communicate and deliberate key issues and risks amongst Management team members and where appropriate, controls are
devised and implemented.
The abovementioned practices/initiatives by the Management serves as the ongoing process used to identify, assess and manage
¢ȱǰȱȱȱęȱȱȱ¢ȱȱ¢ǯȱȱ
ȱ ęȱȱęȱȱȱȱȱȱȱȱĴȱ¢ȱȱȱȦȱ¡ȱĜȱȱ
ȱ¢ǯȱȱȱ ȱȱ¢ȱȱ ȱ ȱȱęȱȱȱȱ¢Ȃȱȱȱȱȱ
ȱ ¢ȱ ȱ ǰȱ Ěȱ ȱ ȱ ¢ȱ ¡ȱ ǰȱ ȱ ¢ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ ȱ
ęȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ǰȱ
ȱ¢ȱǰȱȱȱ ȱ¢ǰȱĜȱȱ¢ǰȱȱ¢ȱȱ ȱǰȱȱȱ
regulation compliance, environmental related issue and computer system operation issue. All of the risks stated above have
been mitigated/solved and are closely monitored.
3. INTERNAL AUDIT FUNCTION
ȱ ȱ¢Ȃȱȱȱǰȱ ȱȱȱȱȱȱȱęǰȱȱȱȱȱȱȱ
Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǰȱ Ĝ¢ȱ ȱ ěȱ ȱ ȱ ¢Ȃȱ ȱ
ȱ¢ǯȱȱȱȱȱ¢ȱȱȱȱĴȱȱȱȱȱȱȱȱȱȱ
Ĵȱȱ ȱȱȱȱȱȱǯ
On a quarterly basis, the results of the internal audit reviews and the recommendations for improvement are presented to
ȱȱĴǯȱȱǰȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱ
followed up by the Internal Auditors to ensure that these actions have been satisfactorily implemented. Senior Management
will continue to ensure that appropriate actions are taken to enhance and strengthen the internal control environment.
Based on the internal audit reviews carried out, none of the weaknesses noted have resulted in any material losses, contingencies
or uncertainties that would require separate disclosure in this annual report.
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱ
ȱŝşǰŗŘŚȱǻęȱ¢ȱȱřŗȱȱŘŖŗŞǱȱŞŖǰŚŝŘǼǯ
4. REVIEW BY THE BOARD
ȱ ȱȂȱ ȱȱȱȱȱȱȱěȱȱȱȱȱǱȬ
ŏ Senior Management within the organisation responsible for the development and maintenance of the risk management
and internal control system.
ŏȱ ȱ ȱ¢ȱȱȱȱȱ ȱȱȱȱȱȱĴȱȱ ȱȱȱȱȱ
internal controls systems relating to key risks and recommendations for improvement.
The Board considered the system of internal controls described in this statement to be satisfactory and the risks to be at an
acceptable level within the context of the Company’s business environment.
5. INFORMATION AND COMMUNICATION
Information critical to the achievement of the Company’s business objectives are communicated through established reporting
ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȃȱ Ĵȱ ȱ
highlighted for review, deliberation and decision on a timely basis.
30
ANNUAL REPORT 2019
Statement On Risk Management

And Internal Control (cont’d.)
For The Financial Year Ended 31 March 2019
6. REVIEW OF THIS STATEMENT
Pursuant to Paragraph 15.23 of the Main LR, the External Auditors have reviewed this Statement for inclusion in the 2019 Annual
ǰȱȱȱȱȱȱȱȱȱȱȱȱĴȱȱȱȱȱȱȱȱȱȱ
inconsistent with their understanding of the processes adopted by the Board in reviewing the adequacy and integrity of the
system of internal controls.
7. CONCLUSION
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȧȱ ¡ȱ Ĝȱ ȱ ȱ ȱ Ĝȱ ȱ ȱ
¢Ȃȱȱȱȱȱȱ¢ȱȱȱ¢ȱȱě¢ǰȱȱȱȱǰȱ
based on the risk management and internal control systems of the Company. There was no material control failure that would
ȱ ¢ȱ ȱ ȱ ěȱ ȱ ȱ ęȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱęȱǯ
Moving forward, the Company will continue to enhance the existing systems of risk management and internal controls, taking
into consideration the changing business environment.
The Board is of the view that the Company’s system of internal control is adequate to safeguard shareholders’ investments and
ȱ¢Ȃȱȱȱȱȱȱȱ¢ȱȱǰȱ¢ȱȱ¢ǯȱȱȱȱȱęȱ¢ȱ
ȱ ȱȱ¢ȱȱęȱȱȱ¢Ȃȱ¢ȱȱȱǯȱ
ǰȱȱȱ
is also cognisant of the fact that the Company’s system of internal control and risk management practices must continuously
evolve to meet the changing and challenging business environment. Therefore, the Board will, when necessary, put in place
appropriate action plans to further enhance the system of internal control.
This statement was approved by the Board of Directors on 23 May 2019.
31
ANNUAL REPORT 2019
AUDIT COMMITTEE REPORT
INTRODUCTION
The Board of Directors (“the BoardȄǼȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱĴȱȱȱęȱ¢ȱ

ended 31 March 2019.
PURPOSE
ȱȱĴȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱǯȱȱ
ȱȱ¢ȱęȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱ
Berhad (“Bursa SecuritiesȄǼǯȱȱȱȱǰȱȱȱĴȱ ȱȱ¢ȱȱȱȱ ȱȱ
and the Board have established, and makes recommendations to Management on actions to be taken, if any, based on the reports of
the independent Internal and External Auditors.
COMPOSITION OF THE AUDIT COMMITTEE AND ATTENDANCE OF MEMBERS AT MEETINGS
ȱȱȱȱȱĴȱȱȱĴȱȱȱȱȱȱȱȱĴȱȱȱȱ
ęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱ ǱȬ
ȱ ȱ ȱ ĴȘ
Tan Sri Dato’ (Dr.) Teo Chiang Liang Chairman Independent Non-Executive Director 5/5
General Tan Sri (Dr.) Dato’ Paduka Member Independent Non-Executive Director 5/5
Koay Kah Ee Member Senior Independent Non-Executive Director 5/5
Dominic Aw Kian-Wee Member Independent Non-Executive Director 5/5
Dato’ Setia Ramli bin Mahmud Member Independent Non-Executive Director 5/5
Șȱȱ ȱ ȱęȱǻśǼȱȱĴȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǯȱȱȱ ȱȱȱ
24 May 2018, 27 June 2018, 23 August 2018, 28 November 2018 and 26 February 2019.
¢ȱȱ ȱȱȱȱȱȱȱȱĴ
ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱȱĴȱȱȱȱȱȱȱȱȱȱȱȱ
out in the Terms of Reference.
ȱȱĴȱȱȱȱȱ ȱȱ¡ȱȱ ȱȱȱȱȱȱ¡ȱȱȱȱǻřǼȱ
ȱȱȱęȱ¢ǰȱ ȱȱ¢ȱȱȱȱ ȱǻŘǼȱȱȱȱȱȱȱĴȂȱȱȱ
Reference, to encourage a greater exchange of free and honest views between both parties.
ȱ¢ȱȱȱ ȱȱȱȱĴȱȱȱȱȱȱȱȱȱȱȱęȱ¢ȱȱ ȱȱȱȱ
ȱȱȱȱęȱ¢ȱȱȱ ǱȬ
1. Financial Results
Ǽȱ ȱȱ¢ȱęȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱ
ȱ ¢ȱ ǰȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
requirements before recommending them for approval by the Board of Directors for announcement to Bursa Securities;
Ǽȱ ȱȱȱȱȱȱęȱȱȱȱ¢ȱȱ ȱȱ¡ȱȱȱȱ
tabling to the Board for approval.
ȱ ȱȱ ȱȱȱȱȱęȱǰȱȱȱĴȱȱȱ ȱȱȱȱ
External Auditors the accounting principles and standards that were applied and their judgement of the items that may
ěȱȱęȱȱȱ ȱȱȱȱȱȱȱȱ¢ȱǯ
32
ANNUAL REPORT 2019
Audit Committee Report (cont’d.)
ȱ ȱȱȱȱȱȱ ȱȱȱȱęȱ¢ȱȱȱȱȱęȱȱĴǱȬ
ȱȱȱȱ ȱȱȱ
ŘŚȱ¢ȱŘŖŗŞȱ Ȋȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗŞ
ŘŝȱȱŘŖŗŞȱ Ȋȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗŞ
ŘřȱȱŘŖŗŞȱ Ȋȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗş
ŘŞȱȱŘŖŗŞȱ Ȋȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗş
ŘŜȱ¢ȱŘŖŗşȱ Ȋȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗş
Řǯȱ ¡ȱ
Ǽȱ ȱ ȱ ȱ ȱ ¡ȱ Ȃȱ ȱ ȱ ǰȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ȱ
recommendation to the Board for approval on their remuneration;
Ǽȱ ȱȱȱȱ¡ȱȂȱȱȱȱȱȱȱȱȱȱȱĴǰȱ
including Management’s response to the concerns raised by the External Auditors, and evaluation of the system of internal
controls;
Ǽȱ ȱęȱȱȱȱǰȱȱȱ ȱȱȱȱȱȱȱȱ
regulatory requirements i.e., reported on the Malaysian Financial Reporting Standards 15 (revenue from contracts with
customers) implementation assessment;
d) Inquired into the assistance given by the Management to the External Auditors; and
e) Assessed the suitability, objectivity, independence and performance of the External Auditors and made recommendation
to the Board on their re-appointment.
ȱ ȱȱęȱ¢ǰȱȱȱȱȱǻřǼȱȱȱ ȱȱ¡ȱȱȱŘŚȱ¢ȱŘŖŗŞǰȱŘŝȱȱŘŖŗŞȱȱ
26 February 2019 without the presence of the Executive Directors and Management of the Company to discuss any issues that
may have arose from the external audit.
3. Internal Audit
Ǽȱ ȱȱȱȱȱȱȱȱȱęȱ¢ȱȱȱȱȱǲ
b) Reviewed the internal audit issues, recommendations and the Management responses to rectify and improve the system
of internal control;
c) Monitored the implementation of programmes recommended by Internal Auditors arising from its audits in order to
obtain assurance that all key risks and controls have been fully dealt with; and
d) Reviewed the performance of the Internal Auditors pursuant to Paragraph 15.12(1)(e) of the Bursa Securities’ Main Market
Listing Requirements (“Main LRȄǼȱȱȱȱȱȱȱȱȱĴǯȱȱȱȱȱ ǱȬ
Ȋȱ ȱȱȱȱȱ¢Ȃȱȱȱȱ¢ȱȱ ȱȱ¢ȱ
Ȋȱ ¢ȱȱ ȱȱȱȱěȱȱȱęǰȱǰȱȱȱȱȱȱȱ
Company
Ȋȱ ¢ȱȱ ǰȱȱȱ¢
Ȋȱ ȱȱȱȱȱȱȱȱȱ
33
ANNUAL REPORT 2019
Audit Committee Report (cont’d.)
4. Related Party Transactions (“RPT”)
a) Reviewed the Recurrent RPT of the Company on a quarterly basis.
b) Reviewed the Circular to Shareholders in relation to the Renewal of Existing Shareholder Mandate for Recurrent RPT.
śǯȱ ȱĴ
Ǽȱ ȱȱȱĴȱȱȱȱȱȱȱȱȱȱȱȱȱȱŘŖŗşȱ

Annual Report.
¢ȱȱ ȱȱȱȱȱ
ȱ¢Ȃȱȱȱǰȱ ȱȱȱȱȱȱȱęǰȱȱȱȱȱȱȱĴȱ
ȱȱȱȱȱȱ¢ǰȱĜ¢ȱȱěȱȱȱ¢Ȃȱȱȱ¢ǯȱ
ȱ¢ȱȱ ȱȱȱȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱ ǱȬ
ǻǼȱ ȱȱȱȱȱȱȱȱȱȱȱȱĴȂȱ ȱȱǲ
(b) Executed the internal audit reviews covering the following business processes or areas in accordance with the approved audit
plan:-
Ȋȱ ȱȱ¢
- Disaster recovery plan

- Data back-up processing
- Information technology (“IT”) policies and procedure
- IT cybersecurity
Ȋȱ ȱȱȱ ȱȱȱȱȱȱȱŘŖŗŞǰȱȱȱȱȱ ȱȱ¢ȱŘŖŗşȱ

respectively, covering the following areas:-
- inventory management
Ȭȱ Ĵ¢ȱȱȱ
- sales proceeds - records maintenance and deposit
Ȭȱ ę¡ȱȱęȱ
Ȋȱ ȱ
ǻǼȱ ȱȱȱȱ ȱȱǰȱȱȱȱȱȱȱ ȱȱȱȱĴȱ¢ȱǯȱȱ
ȱȱȱȱ ȱęȱȱȱȱȱǲȱ
(d) Followed up on the status of implementation of Management action plans carried out and reported the same to the Audit
Ĵǯ
ȱȱȱ ȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱȱ ȱȱȱȱȱ
any material losses, contingencies or uncertainties that would require separate disclosure in this annual report.
34
ANNUAL REPORT 2019
ANALYSIS OF SHAREHOLDINGS
AS AT 28 JUNE 2019
Issued Share Capital : RM60,798,534.00

Class of Shares : Ordinary Shares
Voting Rights : One vote per ordinary share
ANALYSIS OF SHAREHOLDINGS
£ȱȱȱ ǯȱȱȱ Ɩȱ ǯȱȱȱ

ȱȱ ȱƖ
1 – 99 345 8.44 5,099 0.01

100 – 1,000 2,070 50.65 1,118,721 1.84
1,001 – 10,000 1,387 33.94 4,726,837 7.77
10,001 – 100,000 241 5.90 6,402,168 10.53
100,001 – 3,039,925 (*) 43 1.05 17,917,864 29.47
3,039,926 and above (**) 1 0.02 30,627,845 50.38
TOTAL 4,087 100.00 60,798,534 100.00
Ǳȱȱ Șȱ ȱȱśƖȱȱȱ

ȱ ȱ ȱ ȘȘȱ śƖȱȱȱȱȱ
SUBSTANTIAL SHAREHOLDER
The substantial shareholder of Ajinomoto (Malaysia) Berhad and its respective shareholdings based on the Register of Substantial
Shareholders of the Company as at 28 June 2019 is as follows:-
ȱ ȱ ȱ ȱ ȱ ȱ ǯȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ Ɩȱ ȱ Ɩ
Ajinomoto Co., Inc. 30,627,845 50.38 - -
DIRECTORS’ SHAREHOLDINGS
The Directors’ Shareholdings based on the Register of Directors’ Shareholdings of the Company as at 28 June 2019 are as follows:-
Direct Interest Indirect Interest

ȱ ȱ ȱ ȱ ȱ ǯȱȱȱ ȱ ǯȱ
ȱȱ ȱ ȱ ȱ
ȱ Ɩȱ ȱ
ȱȱ Ɩ

Mohamed Hashim bin Mohd. Ali (Rtd) 10,000 0.02 10,000 (1) 0.02
Tan Sri Dato’ (Dr.) Teo Chiang Liang - - 150,000 (2) 0.25
Naoko Yamamoto - - - -
Yukiko Nishioka - - - -
Koay Kah Ee - - - -
Dominic Aw Kian-Wee - - - -
Dato’ Setia Ramli bin Mahmud - - - -
Kamarudin bin Rasid - - - -
Hiroki Suzuki - - - -
Miki Moriyama - - - -
Azhan bin Mohamed - - - -
(1)
Deemed interested by virtue of his directorship in Hamiiz Holdings Sdn. Bhd.
(2)
ȱȱ ȱȱ¢ȱȱȱȱȦȱȱȱ ȱȱ ȱȦȱȱȱŘŖƖȱ¢ȱȱȱȱȱȱǯȱ
Bhd. and See Hoy Chan Holdings Sendirian Berhad respectively.
35
ANNUAL REPORT 2019
Analysis of Shareholdings (cont’d.)

As at 28 June 2019
THIRTY LARGEST SECURITIES ACCOUNT HOLDERS
ǯȱ ȱ ȱ ȱȱǯȱȱȱ Ɩ
1. Ajinomoto Co., Inc. 30,627,845 50.38

2. Cartaban Nominees (Asing) Sdn. Bhd. 1,650,000 2.71
ȱ
ȱȱǯȱȱȱ¢ȱȱǱȱ¢ȱȱȱȱȱ
3. Kumpulan Wang Persaraan (Diperbadankan) 1,277,900 2.10
4. Cartaban Nominees (Asing) Sdn. Bhd. 1,250,000 2.06
ȱȱşȱȱ¢ȱȱ
5. Chinchoo Investment Sdn. Berhad 1,210,800 1.99
6. Maybank Nominees (Asing) Sdn. Bhd. 1,131,030 1.86
ȱ ȱȱȱȱǻǼȱȱȱȱȱȱȱȱȱȱȱǻȦȱŘȬşŝŖśŗŖǼ
7. Maybank Nominees (Tempatan) Sdn. Bhd. 1,128,500 1.86
ȱȱȱǻȱ¢Ǽ
8. Berjaya Sompo Insurance Berhad 1,125,054 1.85
9. HSBC Nominees (Asing) Sdn. Bhd. 700,000 1.15
¡ȱȱȱȱȱǻ ȱȬȬ Ǽ
10. Amanahraya Trustees Berhad 638,100 1.05
ȱȱ ȱ
11. Tee Teh Sdn. Berhad 564,508 0.93
12. Amanahraya Trustees Berhad
ȱȱȱ 509,500 0.84
Public Strategic Smallcap Fund
14. Seah Mok Khoon 432,000 0.71
15. Yong Siew Lee 423,000 0.70
16. Citigroup Nominees (Tempatan) Sdn. Bhd. 383,300 0.63
¢ȱȱȱȱǻǼ
Public Smallcap Fund
ȱȱȱȱ
19. See Hoy Chan Agencies Sendirian Berhad 338,100 0.56
20. Wong Lok Jee @ Ong Lok Jee 305,000 0.50
21. Maybank Nominees (Tempatan) Sdn. Bhd. 240,000 0.39
ȱȱȱǻȱ Ǽ
22. Yee Fook Leong 234,000 0.38
ȱȱȱ¢ȱ
24. Maybank Securities Nominees (Asing) Sdn. Bhd. 208,138 0.34
¢ȱ ȱȱȱȱȱȱȱȱ
25. Key Development Sdn. Berhad 200,000 0.33
26. Seah Heng Lye 200,000 0.33
27. Oh Siew Heong 190,000 0.31
28. Eu Lee Chuan Enterprise Sdn. Berhad 160,000 0.26
29. Tay Lee Joo 153,377 0.25
30. HSBC Nominees (Tempatan) Sdn. Bhd. 149,700 0.25
¡ȱȱȱȱȱǻ ȱȬȬǼ
TOTAL 46,831,852 77.03
36
ANNUAL REPORT 2019
FINANCIAL HIGHLIGHTS
For the financial year ended 31 March
2015 2016 2017 2018 2019

RM’000 RM’000 RM’000 RM’000 RM’000
REVENUE 340,376 400,201 419,917 436,286 447,731
PROFIT BEFORE TAXATION 40,596 53,941 211,469 67,068 72,659
NET PROFIT 29,733 40,787 187,462 56,262 56,581
SHAREHOLDERS FUNDS 279,522 307,813 474,638 437,129 465,335
PER SHARE
o GROSS EARNINGS (Sen) 66.8 88.7 347.8 110.3 119.5

o NET EARNINGS (Sen) 48.9 67.1 308.3 92.5 93.1
o NET ASSET (RM) 4.6 5.1 7.8 7.2 7.7
FINANCIAL RATIOS
ȱȱȱǻƖǼȱ ȱ ŞǯşřƖȱ ŗŗǯŗŗƖȱ řśǯŘŗƖȱ ŗŗǯśŜƖȱ ŗŖǯŜŗƖ

ȱȱ¢ȱǻƖǼȱ ŗŖǯŜŚƖȱ ŗřǯŘśƖȱ řşǯśŖƖȱ ŗŘǯŞŝƖȱ ŗŘǯŗŜƖ
ȱ¢ȱȱǻƖǼȱ ŚŖǯşŖƖȱ śŖǯřŗƖȱ śŖǯŘŝƖȱ śŖǯŘśƖȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ śŖǯśŖƖ
Net Dividend per share (sen) 20.00 33.75 42.00 46.50 47.00*
Special Dividend per share (sen) - - 113.00 - -
* Subject to shareholders’ approval at the Annual General Meeting
REVENUE NET PROFIT

(RM Millions) (RM Millions)
500 200
400 160
300 120
200 80
100 40
0 0
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
NET EARNINGS PER SHARE SHAREHOLDERS FUNDS

(Sen) (RM Millions)
350 500
300
400
200
300
150
100 200
50
100
0 0
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
37
ANNUAL REPORT 2019
DIRECTORS’ REPORT
ȱȱȱȱȱȱȱȱȱ ȱȱȱęȱȱȱȱ¢ȱȱȱęȱ
¢ȱȱřŗȱȱŘŖŗşǯȱ
Principal activities
ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱǯȱȱ
ȱȱȱęȱȱȱȱȱȱȱȱȱȱȱ¢ǯ
ȱȱ¢ȱȱȱǯǰȱǯǰȱȱȱȱȱǯ
Results
RM
ęȱȱȱ¡ȱȱ ȱ ȱ ȱ ȱ ȱ ȱśŜǰśŞŖǰŜŖřȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ęȱǯ
ȱȱȱȱȱǰȱȱȱȱȱȱȱȱ¢ȱȱȱęȱ¢ȱȱȱȱ¢ȱ
ěȱ¢ȱ¢ȱǰȱȱȱȱȱȱȱȱȱǯ
Dividends
ȱȱȱȱȱ¢ȱȱ¢ȱȱřŗȱȱŘŖŗŞȱ ȱȱ Ǳ
RM
ȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗŞȱȱȱȱȱȂȱȱȱȱ¢ȱȱ ȱ
ȱȱęȱȬȱȱȱŚŜǯśŖȱȱȱ¢ȱȱȱȱŘŝȱȱŘŖŗŞȱȱȱ
ȱȱȱŘŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱ ȱŘŞǰŘŝŗǰřŗŞȱ
ȱȱȱȱ ȱǰȱȱęȱȱęȱȬȱȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱ
ȱŚŝǯŖŖȱȱȱ¢ȱȱȱŜŖǰŝşŞǰśřŚȱ¢ȱǰȱȱȱȱȱ¢ȱȱŘŞǰśŝśǰřŗŗȱ ȱȱȱȱ
Ȃȱǯȱȱęȱȱȱȱȱęȱ¢ȱȱȱĚȱȱȱǯȱȱǰȱ
ȱȱ¢ȱȱǰȱ ȱȱȱȱȱȂȱ¢ȱȱȱȱȱȱȱȱȱęȱ
¢ȱȱřŗȱȱŘŖŘŖǯ
Directors
ȱȱȱȱȱȱȱ¢ȱȱĜȱȱȱęȱ¢ȱȱȱȱȱȱȱǱ
ȱȱȱǻǯǼȱȂȱȱȱ
ȱȱǯȱȱǻǼȱ ȱ ȱ ȱ
ȱȱȂȱǻǯǼȱȱȱȱȱ ȱ ȱ ȱ ȱ
ȱȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱ ȱ ȱ ȱ ȱ ȱ
¢ȱ ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱ Ȭȱ ȱ ȱ ȱ ȱ
Ȃȱȱȱȱȱ ȱ ȱ ȱ ȱ
ȱȱȱ ȱ ȱ ȱ ȱ

ȱ£ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱ¢ȱǻȱȱŗȱ¢ȱŘŖŗŞǼȱ ȱ ȱ ȱ ȱ
£ȱȱȱǻȱȱŗśȱȱŘŖŗŞǼȱ ȱ ȱ ȱ ȱ
ȱȱǻȱȱřŖȱȱŘŖŗŞǼȱ ȱ ȱ ȱ ȱ
£ȱȱȱ ȱǻȱȱŗśȱȱŘŖŗŞǼ
38
ANNUAL REPORT 2019
Directors’ Report (cont’d.)
Ȃȱę
ȱȱȱȱȱȱęȱ¢ǰȱȱȱ¢ȱȱȱȱ¢ǰȱȱȱȱ¢ȱȱȱ ȱȱ¢ȱ
ȱȱ¢ǰȱ ¢ȱȱȱȱȱęȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱ
¢ȱȱ¢ȱǯ
ȱȱȱȱȱȱęȱ¢ǰȱȱȱȱȱȱȱȱȱȱȱęȱǻȱȱęȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱ ȱȱȱŝȱȱȱęȱ
ȱȱȱę¡ȱ¢ȱȱȱȱȱ¢Ǽȱ¢ȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱ ȱ¢ȱ
ȱȱ ȱȱęȱȱ ȱȱȱȱȱǰȱȱ ȱȱ¢ȱȱ ȱȱȱȱȱȱęȱǯ
Indemnity and insurance costs
ȱȱęȱ¢ǰȱȱ¢ȱȱȱȂȱȱĜȂȱ¢ȱȱȱȱȱȱȱŘŞşȱȱȱ
ȱȱŘŖŗŜǯȱȱȱȱȱȱȱȂȱȱĜȂȱ¢ȱȱěȱȱȱȱȱĜȱ
ȱȱ¢ȱ ȱŗśȱȱȱȱȱȱȱǯȱȱȱȱȱȱ¢ȱȱŗŚǰŚśŖǯȱ
Directors’ interests
ȱȱȱȱȱȂȱǰȱȱȱȱȱȱĜȱȱȱȱȱȱęȱ¢ȱȱȱȱȱ
¢ȱȱȱȱȱȱȱęȱ¢ȱ ȱȱ Ǳ
Number of ordinary shares

At At
1.4.2018 Acquired Sold 31.3.2019
The Company
Direct interest:
ȱȱȱǻǯǼȱȂȱȱ
ȱȱȱ
ȱȱǯȱȱǻǼȱ ȱ ȱŗŖǰŖŖŖȱȱ ȱȬȱȱ ȱȬȱȱ ȱŗŖǰŖŖŖȱ
Indirect interest:
ȱȱȱǻǯǼȱȂȱȱȱ ȱ ȱ ȱ ȱ
ȱȱȱ
ȱȱǯȱȱǻǼȱ ȱ ȱŗŖǰŖŖŖȱȱ ȱȬȱȱ ȱȬȱȱ ȱŗŖǰŖŖŖȱ
ȱȱȂȱǻǯǼȱȱȱȱ ȱ ȱŗśŖǰŖŖŖȱȱ ȱȬȱȱ ȱȬȱȱ ȱŗśŖǰŖŖŖȱ
Number of shares
At At
1.4.2018 Acquired Sold 31.3.2019
Holding company
- Ajinomoto Co. Inc
Direct interest:
ȱȱ ȱ ȱ ȱřǰŘŜŖȱȱ ȱŗşŜȱȱ ȱȬȱȱ ȱřǰŚśŜȱ
ȱ£ȱȱ ȱ ȱ ȱ ȱśǰŜŚŜȱȱ ȱřŜśȱȱ ȱȬȱȱ ȱŜǰŖŗŗȱ
ȱȱȱȱǰȱȱȱȱȱȱȱĜȱȱȱȱȱȱęȱ¢ȱȱ¢ȱȱȱȱȱȱ
¢ȱȱȱȱȱȱȱęȱ¢ǯ
39
ANNUAL REPORT 2019
Directors’ remuneration
ȱȱȱȂȱȱȱȱ Ǳ
RM
¡Ǳȱȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱ ȱ ȱ ȱ ȱ ȱŘǰŞřŜǰŖŜŚȱ
ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŜŘǰŖŖŖȱ
ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśŞŚǰŝŗŚȱ
ȱȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŜŚǰŞŖŖȱ
ȱȱęȱȱȱ ȱ ȱ ȱ ȱ ȱŘŘŜǰŖŖśȱ
ȱ¡ȱȂȱȱǻ¡ȱęȬȬǼȱǻȱŜǼȱ ȱ ȱ ȱ ȱřǰŞŝřǰśŞřȱ
ȱ¢ȱȱȱęȬȬȱ ȱ ȱ ȱ ȱ ȱřŞŘǰŘśŚȱ
ȱ¡ȱȂȱȱǻȱęȬȬǼȱ ȱ ȱ ȱ ȱŚǰŘśśǰŞřŝȱ
Ȭ¡Ǳȱȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŘŚŖǰŖŖŖȱ
ȱȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱşŜǰŖŖŖȱ
ȱȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱŗŗşǰŖŖŖȱ
ȱȬ¡ȱȂȱȱǻ¡ȱęȬȬǼȱǻȱŞǼȱ ȱ ȱ ȱ ȱŚśśǰŖŖŖȱ
ȱ¢ȱȱȱęȬȬȱ ȱ ȱ ȱ ȱ ȱŞŗǰŞřŘȱ
ȱȬ¡ȱȂȱȱǻȱęȬȬǼȱ ȱ ȱ ȱ ȱśřŜǰŞřŘȱ
ȱȂȱȱ ȱ ȱ ȱ ȱ ȱŚǰŝşŘǰŜŜşȱ
Other statutory information
ǻǼȱ ȱȱȱȱȱȱȱȱȱęȱȱȱȱ¢ȱ ȱȱǰȱȱȱ
ȱȱǱ
ǻǼȱ ȱȱȱȱȱȱȱȱȱȱȱȱ ȱěȱȱȱȱȱȱȱȱ ȱȱ
ȱǰȱȱęȱȱȱȱ ȱȱȱȱȱ Ĵȱěȱȱȱȱ ȱȱ
ȱȱȱȱǲȱȱ
ǻǼȱ ȱȱȱ¢ȱȱȱ ȱ ȱ¢ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ
¢ȱȱȱȱȱȱ Ĵȱ ȱȱȱȱ ȱ¢ȱȱȱ¡ȱȱȱǯ
ǻǼȱ ȱȱȱȱȱǰȱȱȱȱȱ ȱȱ¢ȱȱ ȱ ȱǱ
ǻǼȱ ȱȱ Ĵȱěȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱęȱȱȱȱ
¢ȱȱȱ¢ȱȱ¡ǲȱȱ
ǻǼȱ ȱȱĴȱȱȱȱȱȱȱęȱȱȱȱ¢ȱǯ
ǻǼȱ ȱȱȱȱȱǰȱȱȱȱȱ ȱȱ¢ȱȱ ȱȱȱ ȱ ȱȱȱȱ
ȱ¡ȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱǯ
ǻǼȱ ȱȱȱȱȱǰȱȱȱȱȱ ȱȱ¢ȱȱȱ ȱȱ ȱȱȱȱȱȱęȱ
ȱȱȱ¢ȱ ȱ ȱȱ¢ȱȱȱȱȱęȱȱǯ
40
ANNUAL REPORT 2019
Other statutory information (cont’d.)
ǻǼȱ ȱȱȱȱȱȱǰȱȱȱȱ¡Ǳ
ǻǼȱ ¢ȱȱȱȱȱȱȱ¢ȱ ȱȱȱȱȱȱȱȱęȱ¢ȱ ȱȱȱȱ
ȱ¢ȱȱǲȱ
ǻǼȱ ¢ȱȱ¢ȱȱȱ¢ȱ ȱȱȱȱȱȱȱȱęȱ¢ǯ
ǻǼȱ ȱȱȱȱȱǱ
ǻǼȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱęȱ¢ȱ ȱ ȱȱ¢ȱěȱȱ¢ȱȱȱ¢ȱȱȱȱȱ ȱ
¢ȱȱǲȱ
ǻǼȱ ȱǰȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱęȱ
¢ȱȱȱȱȱȱȱ ȱȱ¢ȱȱěȱ¢ȱȱȱȱȱȱȱȱ¢ȱȱȱ
ęȱ¢ȱȱ ȱȱȱȱǯ
ęȱȱ
ȱȱ¡ȱĴȱ¢ȱ ǰȱȱ¢ȱȱȱȱ¢ȱȱǰȱ
ęȱȱǭȱǰȱȱȱȱȱȱ
ȱȱȱȱȱȱ¢ȱȱȱȱȱȱǯȱȱ¢ȱȱȱȱȱ¢ȱ
ęȱ
ȱǭȱȱȱȱȱȱęȱ¢ǯȱ
Auditors
ȱǰȱ
ęȱȱǭȱǰȱȱȱȱȱȱȱȬǯȱȱȂȱȱȱȱ
ęȱ¢ȱȱŗŘŞǰŖŖŖǯ
ȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱŘŝȱȱŘŖŗşǯ
General Tan Sri (Dr.) Dato’ Paduka Naoko Yamamoto

41
ANNUAL REPORT 2019
STATEMENT BY DIRECTORS
PURSUANT TO SECTION 251(2) OF THE COMPANIES ACT 2016
ǰȱ ȱȱȱǻǯǼȱȂȱȱȱ
ȱȱǯȱȱǻǼȱȱȱǰȱȱ ȱȱȱȱ
ȱȱǻ¢Ǽȱǰȱȱ¢ȱȱǰȱȱȱȱȱȱǰȱȱ¢ȱęȱȱȱȱ
ȱ ȱ ŚŜȱ ȱ şŖȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
ȱȱȱȱȱȱȱȱŘŖŗŜȱȱ¢ȱȱȱȱȱȱȱȱȱ ȱȱȱęȱȱȱ
ȱ¢ȱȱȱřŗȱȱŘŖŗşȱȱȱȱȱȱȱȱĚ ȱȱȱ¢ȱȱȱ¢ȱȱǯ
ȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱŘŝȱȱŘŖŗşǯ
General Tan Sri (Dr.) Dato’ Paduka Naoko Yamamoto

STATUTORY DECLARATION
PURSUANT TO SECTION 251(1) OF THE COMPANIES ACT 2016
ǰȱ
ȱȱǰȱȱȱĜȱ¢ȱȱȱȱęȱȱȱȱǻ¢Ǽȱǰȱȱ¢ȱ
ȱ¢ȱȱȱȱ¢ȱęȱȱȱȱȱȱŚŜȱȱşŖȱȱȱ¢ȱȱǰȱȱȱȱȱ
ȱȱ¢ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱ¢ȱȱǰȱ
ŗşŜŖǯ
ȱȱ¢ȱȱ¢ȱ ȱ ȱ ȱ ȱ
ȱȱ
ȱȱȱȱȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱ
ȱȱ
¢ȱȱŘŝȱȱŘŖŗşȱ ǱȱȱşŜŜŝ
ȱǰȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱ Ĵ
(W530)
ȱȱ
ȱ
42
ANNUAL REPORT 2019
INDEPENDENT AUDITORS’ REPORT

TO THE MEMBERS OF AJINOMOTO (MALAYSIA) BERHAD
(INCORPORATED IN MALAYSIA)
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
Opinion
ȱȱȱȱęȱȱȱȱǻ¢Ǽȱǰȱ ȱȱȱȱȱęȱȱȱȱ
řŗȱȱŘŖŗşǰȱȱȱȱęȱȱȱȱȱȱǰȱȱȱȱȱ¢ȱȱȱȱ
ȱĚ ȱȱȱ¢ȱȱǰȱȱȱȱȱęȱǰȱȱȱ¢ȱȱęȱȱǰȱȱ
ȱȱȱȱŚŜȱȱşŖǯȱȱ
ȱ ȱ ǰȱ ȱ ¢ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ
řŗȱȱŘŖŗşǰȱȱȱȱęȱȱȱȱĚ ȱȱȱ¢ȱȱȱȱȱ ȱ¢ȱȱ
ȱǰȱȱȱȱȱȱȱȱȱȱȱȱŘŖŗŜȱȱ¢ǯ
Basis for opinion
ȱȱȱȱȱȱ ȱȱȱȱȱȱ¢ȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ
ȱȱȱȱǯȱȱȱȱȱȱȱ ȱȱȱȱĜȱȱȱȱȱȱȱ
ȱȱȱǯ
Independence and other ethical responsibilities
ȱȱȱȱȱ¢ȱȱȱ ȱȱ¢Ȭ ȱǻȱȱǰȱȱȱǼȱȱȱ¢ȱ
ȱȱȱǻȃ¢Ȭ ȄǼȱȱȱȱȱȱȱȱȂȱȱȱȱȱȱ
ȱǻȃȱȄǼǰȱȱ ȱȱęȱȱȱȱȱȱȱ ȱȱ¢Ȭ ȱȱȱȱ
ǯ
¢ȱȱĴ
¢ȱ ȱ Ĵȱ ȱ ȱ Ĵȱ ǰȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ęȱ
ȱȱȱ¢ȱȱȱȱ¢ǯȱȱĴȱ ȱȱȱȱ¡ȱȱȱȱȱȱęȱȱ
ȱȱ¢ȱȱȱ ǰȱȱȱȱȱȱǰȱȱ ȱȱȱȱȱȱȱȱȱĴǯȱȱȱ
Ĵȱ ǰȱȱȱȱ ȱȱȱȱȱĴȱȱȱȱȱ¡ǯ
ȱȱęȱȱȱȱȱȱȂȱȱȱȱȱȱȱęȱȱȱȱȱ
ǰȱȱȱȱȱȱĴǯȱ¢ǰȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱęȱǯȱȱȱȱȱȱǰȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ
ǯ
Revenue recognition
ȱȱȱȱȱȱȱȱȱŘǯřǻǼȱȱȱŚȱȱȱęȱǯ
ȱȱęȱ¢ǰȱȱ¢ȱȱȱȱȱȱȱȱȱ¡¢ȱŚŚŝǯŝȱǯȱȱ
ęȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱȱȱȱȱěȱȱ
ȱȱ¢ȱȱȱȱǯȱ
ȱȱȱȱȱȱȱȱǱ
ǻǼȱȱ ȱȱȱȱȱȱ¢Ȃȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱǲ
ǻǼȱȱ ȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱǲȱ
ǻǼȱȱ ȱȱȱȱ ¢ȱȱȱ ȱǰȱȱȱȱȱȱȱȱǲȱ
ǻǼȱȱ ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱǰȱȱȱȱȱȱ¢ȱǰȱȱ
ȱ ȱȱȱ ȱȱȱȱȱȱǯȱȱ
43
ANNUAL REPORT 2019
Independent Auditors’ Report

to the members of Ajinomoto (Malaysia) Berhad
(Incorporated in Malaysia) (cont’d.)
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS (CONT’D.)
ȱȱȱȱęȱȱȱȂȱ
ȱȱȱȱ¢ȱȱȱȱȱȱǯȱȱȱȱȱȱȱȱȱ
ȱ¢ȂȱŘŖŗşȱȱǰȱȱȱȱȱȱęȱȱȱȱ¢ȱȱȱȂȱȱǯȱ
ȱȱȱȱęȱȱȱȱȱȱȱȱȱ ȱȱȱ¡ȱ¢ȱȱȱȱȱ
ǯȱ
ȱȱ ȱȱȱȱȱęȱȱȱȱ¢ǰȱȱ¢ȱȱȱȱȱȱȱǰȱ
ȱȱǰȱȱ ȱȱȱȱȱ¢ȱȱ ȱȱęȱȱȱȱ¢ȱȱȱ
ȱȱȱȱȱȱ ȱȱȱȱ¢ȱǯ
ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ
ȱȱȱȱǯȱȱȱȱȱȱȱȱǯ
ȱȱȱȱȱȱęȱȱ
ȱȱȱȱ¢ȱȱȱȱȱȱȱęȱȱȱȱ¢ȱȱȱȱȱȱȱ
ȱȱȱ ȱ¢ȱȱȱǰȱȱȱȱȱȱȱȱ
ȱȱȱȱŘŖŗŜȱȱ¢ǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
¢ȱȱȱȱȱȱęȱȱȱȱ¢ȱȱȱȱȱȱǰȱ ȱȱ
ȱȱȱǯ
ȱȱȱęȱȱȱȱ¢ǰȱȱȱȱȱȱȱȱ¢Ȃȱ¢ȱȱȱ
ȱȱȱǰȱǰȱȱǰȱĴȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱ¢ȱȱȱȱǰȱȱȱȱȱȱȱȱȱǯȱȱ
Ȃȱȱȱȱȱȱȱęȱȱ
ȱȱȱȱȱȱȱȱ ȱȱęȱȱȱȱ¢ȱȱȱ ȱȱȱȱ
ȱǰȱ ȱȱȱȱȱǰȱȱȱȱȱȂȱȱȱȱȱǯȱȱȱ
ȱȱȱȱȱǰȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱ
¢ȱȱȱȱȱȱ ȱ ¢ȱȱȱȱȱ ȱȱ¡ǯȱȱȱȱ
ȱȱȱȱȱȱȱȱǰȱ¢ȱȱȱȱǰȱ¢ȱȱ¢ȱȱ¡ȱȱĚȱ
ȱȱȱȱȱȱȱȱȱȱȱęȱǯ
ȱȱȱȱȱȱȱ ȱȱȱȱȱȱ¢ȱȱȱȱȱǰȱ ȱ
¡ȱȱȱȱȱȱȱȱȱǯȱȱǱ
yȱ ¢ȱȱȱȱȱȱȱȱȱȱęȱȱȱȱ¢ǰȱ ȱȱȱȱȱǰȱ
ȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱȱĜȱȱȱ
ȱȱȱȱȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱǰȱȱȱ¢ȱȱǰȱ¢ǰȱȱǰȱǰȱȱȱȱȱ
ȱǯ
yȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ǰȱȱȱȱȱȱȱ¡ȱȱȱȱȱěȱȱȱ¢Ȃȱȱǯ
yȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱ¢ȱȱǯ
yȱ ȱȱȱȱȱȱȂȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱ
ǰȱ ȱȱȱ¢ȱ¡ȱȱȱȱȱȱȱ¢ȱȱęȱȱȱȱ¢Ȃȱ
¢ȱȱȱȱȱȱǯȱȱ ȱȱȱȱȱ¢ȱ¡ǰȱ ȱȱȱȱ ȱĴȱȱȱ
Ȃȱȱȱȱȱȱȱȱęȱȱȱȱ¢ȱǰȱȱȱȱȱǰȱȱ
¢ȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȂȱǯȱ
ǰȱ
ȱȱȱȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱȱǯ
yȱ ȱȱȱǰȱȱȱȱȱȱęȱȱȱȱ¢ǰȱȱȱǰȱ
ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱǯ
44
ANNUAL REPORT 2019
Independent Auditors’ Report

to the members of Ajinomoto (Malaysia) Berhad
(Incorporated in Malaysia) (cont’d.)
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS (CONT’D.)
ȂȱȱȱȱȱȱȱęȱȱǻȂǯǼ
ȱȱ ȱȱȱǰȱȱȱĴǰȱȱȱȱȱȱȱȱȱȱęȱȱ
ęǰȱȱ¢ȱęȱęȱȱȱȱȱ ȱ¢ȱȱȱǯ
ȱȱȱȱȱ ȱȱȱȱ ȱȱȱ ȱȱȱȱȱǰȱ
ȱȱȱ ȱȱȱȱȱȱĴȱȱ¢ȱ¢ȱȱȱȱȱȱȱǰȱȱ
ȱǰȱȱǯ
ȱȱĴȱȱ ȱȱǰȱ ȱȱȱĴȱȱ ȱȱȱęȱȱȱȱȱȱ
ęȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱ¢ȱȱĴǯȱȱȱȱĴȱȱȱ
Ȃȱȱȱ ȱȱȱȱȱȱȱȱĴȱȱ ǰȱȱ¡¢ȱȱǰȱ ȱ
ȱȱȱĴȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱ¢ȱ
ȱ¡ȱȱ ȱȱȱȱęȱȱȱǯ
ȱĴ
ȱȱȱȱ¢ȱȱȱȱȱȱ¢ǰȱȱȱ¢ǰȱȱȱ ȱȱŘŜŜȱȱȱȱȱŘŖŗŜȱȱ
¢ȱȱȱȱȱǯȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱǯ
ęȱȱǭȱȱ ȱ ȱ ȱȱȱ
ȱ
ǱȱŖŖŖŘȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱŖŘŚŝŝȦŗŖȦŘŖŗşȱȱ

ȱȱ ȱ ȱ ȱȱȱ
ȱǰȱ¢ȱ ȱ ȱ ȱ
ŘŝȱȱŘŖŗşȱ ȱ ȱ ȱ ȱ ȱ ȱ
45
ANNUAL REPORT 2019
STATEMENT OF COMPREHENSIVE INCOME

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2019
Note 2019 2018

RM RM
Revenueȱ ȱ ȱ ȱ ȱ ȱ Śȱ ȱŚŚŝǰŝřŖǰŝřşȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
Other items of incomeȱ ȱ ȱ śȱ ȱŗŗǰŞŜŗǰŝŜřȱȱ ȱŗŖǰśŜŜǰŝŚŝȱ
Items of expenses
ȱȱȱȱęȱȱȱ ȱȱȱ ȱ ȱ ȱ ȱŘǰŖŖřȱȱ ȱǻśǰŘŝŗǰŖŝŖǼ
ȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱǻŘŗŖǰŖŘŝǰŖŚŗǼȱ ȱǻŘŖŞǰŝŜŚǰŖśśǼ
ȱȱȱȱ ȱ ȱ ȱ ȱǻŚŖǰŜŝřǰřŘŗǼȱ ȱǻřŝǰŘŗŖǰŚŝśǼ
¢ȱęȱ¡ȱ ȱ ȱ Ŝȱ ȱǻśřǰřŘśǰŘŚŝǼȱ ȱǻśŗǰşśŞǰŖŝŚǼ
ȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱǻŗŜǰŗŗŚǰŝŖŖǼȱ ȱǻŗřǰŖŞşǰŚŘŚǼ
ȱȱ¡ȱ ȱ ȱ ȱ ȱǻŜŜǰŝşśǰŖŞśǼȱ ȱǻŜřǰŚşŗǰŞŖśǼ
ęȱȱ¡ȱ ȱ ȱ ȱ Şȱ ȱŝŘǰŜśşǰŗŗŗȱȱ ȱŜŝǰŖŜŞǰŗŜŚȱ

ȱ¡ȱ¡ȱ ȱ ȱ ȱ şȱ ȱǻŗŜǰŖŝŞǰśŖŞǼȱ ȱǻŗŖǰŞŖŜǰŖŜşǼ
ęȱȱȱ¡ȱ ȱ ȱ ȱ ȱ ȱśŜǰśŞŖǰŜŖřȱȱ ȱśŜǰŘŜŘǰŖşśȱ
Other comprehensive income

ȱȱȱȱȱȱęȱȱęȱȱȱȱȱǱ
ȱǻǼȦȱȱęȱęȱȱ ȱ ȱ ȱ ȱǻŗřŜǰřŖŝǼȱ ȱŜŗŚǰŝřŞȱ
¡ȱȱȱȱȱǻǼȦȱȱęȱęȱȱ ȱ ȱ ȱřŘǰŝŗŚȱȱ ȱǻŗŚŝǰśřŝǼ
Other comprehensive (loss)/income for the year, net of taxȱ ȱ ȱ ȱ ȱǻŗŖřǰśşřǼȱ ȱŚŜŝǰŘŖŗȱ
Total comprehensive income for the yearȱ ȱ ȱ ȱ ȱśŜǰŚŝŝǰŖŗŖȱȱ ȱśŜǰŝŘşǰŘşŜȱ
ȱȱȱĴȱȱ¢ȱȱȱȱ¢ȱǻǼȱ ȱ ȱ
Ȭȱȱ ȱ ȱ ȱ ȱ ȱ ŗŖȱ şřǯŖŜȱȱ şŘǯśŚȱ
Net dividend per share (sen)ȱ ȱ ȱ ŗŗȱ ŚŜǯśŖȱȱ ŗśśǯŖŖȱ
ȱ¢ȱȱȱȱ¡¢ȱȱȱȱȱȱȱȱęȱǯȱ ȱ
46
ANNUAL REPORT 2019
STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2019
Note 2019 2018

RM RM
Non-current assets
¢ǰȱȱȱȱ ȱ ȱ ŗŘȱ ȱŝśǰŜŘşǰřřŖȱȱ ȱŞŚǰřŝśǰŖśŗȱ
ȱȱ ȱ ȱ ȱ ŗřȱ ȱŗǰřŞŚǰŗŗŜȱȱ ȱŗǰřřŖǰŞśŘȱ
ȱȱ ȱ ȱ ȱ ŗŚȱ ȱŘŘŜǰŖŖŖȱȱ ȱŘŘŜǰŖŖŖȱ
ȱ¡ȱȱ ȱ ȱ ȱ Řŗȱ ȱŘşşǰŗŘŜȱȱ ȱȬȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŝŝǰśřŞǰśŝŘȱȱ ȱŞśǰşřŗǰşŖřȱ
Current assets
ȱ ȱ ȱ ȱ ȱ ŗśȱ ȱŚŚǰŜřŘǰŖŞŗȱȱ ȱŚśǰŝŚřǰŘśŗȱ
ȱȱȱȱ ȱ ȱ ŗřȱ ȱŗŖśǰşŗŗǰŚşşȱȱ ȱśŞǰŖŞŞǰŘşřȱ
ȱȱ ȱ ȱ ȱ ŗŜȱ ȱȬȱȱ ȱŗŘŖǰŘŚřȱ
ȱȱ ȱ ȱ ŗŝȱ ȱŗşŞǰŝŞŖǰŗŘŘȱȱ ȱŗŜşǰşŜŖǰŝŗŘȱ
ȱȱȱȱ ȱ ȱ ŗŞȱ ȱŗŖŜǰřşŞǰşŞŞȱȱ ȱŗŘŜǰŝŚŝǰřŞŝ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚśśǰŝŘŘǰŜşŖȱȱ ȱŚŖŖǰŜśşǰŞŞŜȱ
Total assetsȱ ȱ ȱ ȱ ȱ ȱ ȱśřřǰŘŜŗǰŘŜŘȱȱ ȱŚŞŜǰśşŗǰŝŞşȱ
Equity and liabilities
Current liabilities
ȱęȱȱ ȱ ȱ ŗşȱ ȱśŚŞǰŞŝŚȱȱ ȱśśŘǰŚŗŗȱ
ȱȱȱ¢ȱ ȱ ȱ ŘŖȱ ȱśŘǰŝŞŞǰřŘŗȱȱ ȱřŜǰŚŖŘǰśŘřȱ
ȱȱ ȱ ȱ ŗŜȱ ȱŜŝǰřŖŖȱȱ ȱŘŜǰŚşŘȱ
¡ȱ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱŘǰŝŗŘǰřŞŗȱȱ ȱŚŜşǰŝşŘ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśŜǰŗŗŜǰŞŝŜȱȱ ȱřŝǰŚśŗǰŘŗŞȱ
Non-current liabilities
ȱęȱȱ ȱ ȱ ŗşȱ ȱŗŗǰŞŖşǰśŞşȱȱ ȱŗŗǰŖřŚǰŘŗŚȱ
ȱ¡ȱȱ ȱ ȱ Řŗȱ ȱȬȱȱ ȱşŝŝǰŘśŘȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŗǰŞŖşǰśŞşȱȱ ȱŗŘǰŖŗŗǰŚŜŜȱ
Total liabilitiesȱ ȱ ȱ ȱ ȱ ȱŜŝǰşŘŜǰŚŜśȱȱ ȱŚşǰŚŜŘǰŜŞŚȱ
Net assetsȱȱ ȱ ȱ ȱ ȱ ȱ ȱŚŜśǰřřŚǰŝşŝȱȱ ȱŚřŝǰŗŘşǰŗŖś
¢ȱĴȱȱ¢ȱȱȱȱ¢ȱ ȱ ȱ ȱ
ȱȱ ȱ ȱ ȱ ȱ ŘŘȱ ȱŜśǰŗŖŘǰŘřŚȱȱ ȱŜśǰŗŖŘǰŘřŚȱ
ȱȱ ȱ ȱ ȱ Řřȱ ȱŚŖŗǰŖśŞǰŘşŖȱȱ ȱřŝŘǰŝŚşǰŖŖśȱ
ȱȱ ȱ ȱ ȱ ȱ ŘŚȱ ȱǻŞŘśǰŝŘŝǼȱ ȱǻŝŘŘǰŗřŚǼ
Total equityȱ ȱ ȱ ȱ ȱ ȱ ȱŚŜśǰřřŚǰŝşŝȱȱ ȱŚřŝǰŗŘşǰŗŖśȱ
Total equity and liabilitiesȱ ȱ ȱ ȱ ȱśřřǰŘŜŗǰŘŜŘȱȱ ȱŚŞŜǰśşŗǰŝŞşȱ
47
ANNUAL REPORT 2019
STATEMENT OF CHANGES IN EQUITY

Non-distributable Distributable
Share Other Retained Total
capital reserves earnings equity
RM RM RM RM
Note (Note 22) (Note 24) (Note 23)
At 1 April 2017 ŜśǰŗŖŘǰŘřŚȱȱ ȱǻŗǰŗŞşǰřřśǼȱ ȱŚŗŖǰŝŘŚǰŜřŝȱȱ ȱŚŝŚǰŜřŝǰśřŜȱ

ȱȱȱ ȱ ȱȬȱȱ ȱŚŜŝǰŘŖŗȱȱ ȱśŜǰŘŜŘǰŖşśȱȱ ȱśŜǰŝŘşǰŘşŜȱ
Transaction with owners

ȱȱ ȱ ȱ ŗŗȱ ȱȬȱȱ ȱȬȱȱ ȱǻşŚǰŘřŝǰŝŘŝǼȱ ȱǻşŚǰŘřŝǰŝŘŝǼ
At 31 March 2018ȱ ȱ ȱ ȱŜśǰŗŖŘǰŘřŚȱȱ ȱǻŝŘŘǰŗřŚǼȱȱ ȱřŝŘǰŝŚşǰŖŖśȱȱ ȱŚřŝǰŗŘşǰŗŖśȱ
At 1 April 2018ȱȱ ȱ ȱ ȱŜśǰŗŖŘǰŘřŚȱȱ ȱǻŝŘŘǰŗřŚǼȱ ȱřŝŘǰŝŚşǰŖŖśȱȱ ȱŚřŝǰŗŘşǰŗŖśȱ

ȱȱȱ ȱ ȱȬȱȱ ȱǻŗŖřǰśşřǼȱ ȱśŜǰśŞŖǰŜŖřȱȱ ȱśŜǰŚŝŝǰŖŗŖȱ
Transaction with owners

ȱȱ ȱ ȱ ŗŗȱ ȱȬȱȱ ȱȬȱȱ ȱǻŘŞǰŘŝŗǰřŗŞǼȱ ȱǻŘŞǰŘŝŗǰřŗŞǼ
At 31 March 2019ȱ ȱ ȱ ŜśǰŗŖŘǰŘřŚȱȱ ȱǻŞŘśǰŝŘŝǼȱ ȱŚŖŗǰŖśŞǰŘşŖȱȱ ȱŚŜśǰřřŚǰŝşŝȱ
48
ANNUAL REPORT 2019
STATEMENT OF CASH FLOWS

2019 2018
RM RM
ȱĚ ȱȱȱ
ęȱȱ¡ȱȱ ȱ ȱ ȱ ȱ ȱŝŘǰŜśşǰŗŗŗȱȱ ȱŜŝǰŖŜŞǰŗŜŚȱ
ȱǱȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȬȱȱȱȱ ȱ ȱ ȱ ȱŘŜǰŗŗŗȱȱ ȱśŝǰŚŗřȱ
ȱȱȱȱ ȱ ȱ ȱ ȱ ȱǻřǰřśŚǰŝŝŖǼȱ ȱǻřǰŘśśǰŞŖŚǼ
ȱȱȱȱȱȱ ȱ ȱ ȱ ȱǻŝǰŖřřǰřşŗǼȱ ȱǻŜǰŜŚŝǰŜŗŖǼ
ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱŗŜǰŗŗŚǰŝŖŖȱȱ ȱŗřǰŖŞşǰŚŘŚȱ
ȱȱȦǻǼȱȱ¡ȱȱȱȱȱǰȱȱ ȱ ȱ ȱŗřǰŖŚśȱȱ ȱǻŚǰŗŝŖǼ
ȱȱȱȱ Ĵȱěȱ ȱ ȱ ȱ ȱŗŗǰřŚŘȱȱ ȱȬȱ
ȱȱȱ Ĵȱěȱ ȱ ȱ ȱ ȱşŞŘǰşřśȱȱ ȱřŝŞǰŜśśȱ
ȱȱ¢ǰȱȱȱȱ Ĵȱěȱ ȱ ȱ ȱ ȱşŝǰŞřşȱȱ ȱŗŜŗǰşŘŘȱ
ȱȱ ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱǻřśŜǰŞŜşǼȱ ȱǻśŖǰśŗŚǼ
ȱȱȱȱęȱęȱȱ ȱ ȱ ȱ ȱŗǰŝŞŚǰŘŖŝȱȱ ȱŗǰśŜśǰŗŝřȱ
ȱȱȱęȱȱȱęȱȱȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗǰśŗŖǰřŚřȱ
ȱȱȱȱ¡ȱǻǼȦȱ ȱ ȱ ȱ ȱǻŜŚŞǰŗŜŝǼȱ ȱŗǰśŞŖǰŚŜŚȱ
ȱȱȱȱȱȦǻǼȱȱȱ ȱ ȱ ȱ ȱŗŜŗǰŖśŗȱȱ ȱǻŗśŖǰśŞŝǼ
ȱęȱȱ ȱȱȱ ȱ ȱ ȱ ȱŞŖǰŚśŝǰŗŚŚȱȱ ȱŝśǰřŖŘǰŞŝřȱ

ȱȱȱȱȱ ȱ ȱ ȱ ȱŗŘŞǰŘřśȱȱ ȱŗśǰřŝşǰřŝŞȱ
ȱȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱǻŗśǰŗŝŝǰŘŖŜǼȱ ȱǻŞǰŗşŖǰŗŗşǼ
ȱȱȦǻǼȱȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱŗŜǰŘŞŞǰŝŚŜȱȱ ȱǻŘǰŚŝŞǰŗřŖǼ
ȱȱȱȱ ȱ ȱ ȱ ȱŞŗǰŜşŜǰşŗşȱȱ ȱŞŖǰŖŗŚǰŖŖŘȱ

ȱȱ¡ȱȱ ȱ ȱ ȱ ȱ ȱ ȱǻŗśǰŖŝşǰśŞřǼȱ ȱǻŗŞǰŚŝŞǰřřŚǼ
ȱȱȱ¢ȱȱȱȱęȱȱ ȱ ȱ ȱ ȱǻŗǰŗŚŞǰŜŝŜǼȱ ȱǻŝŞŚǰŜŝŜǼ
ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŜśǰŚŜŞǰŜŜŖȱȱ ȱŜŖǰŝśŖǰşşŘȱ
ȱĚ ȱȱȱȱ ȱ ȱ ȱ ȱ
ȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱǻŝǰŜŜřǰşŘŗǼȱ ȱǻŞǰřřşǰŘşşǼ
ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱśśřǰşŝŘȱȱ ȱřŖşǰŚŖŖȱ
ȱȱȱȱȱ ȱ ȱ ȱ ȱǻřŘǰŚŞŗǰŞŜśǼȱ ȱȬȱ
ȱȱ ȱ ȱ ȱ ȱ ȱřǰřŖŝǰŘşşȱȱ ȱřǰŖşŚǰřřŘȱ
ȱȱȱȱ ȱ ȱ ȱ ȱŚǰŝŘŝǰŜŜŚȱȱ ȱŜǰŚśŜǰŖşşȱ
ǻǼȦ ȱ ȱȱęȱȱ ȱ ȱ ȱ ȱǻŘŜǰśŗřǰŜŞřǼȱ ȱřŖǰŘşŝǰŚśŚȱ
ȱȱȱ ȱ¢ȱȱȱşŖȱ¢ȱ ȱ ȱ ȱ ȱȬȱȱ ŘǰŘŚŞǰŞŖŖȱ
ȱȱǻȱǼȦȱȱȱȱ ȱ ȱ ȱ ȱǻśŞǰŖŝŖǰśřŚǼȱ ȱřŚǰŖŜŜǰŝŞŜȱ
ȱĚ ȱȱęȱ¢ȱ ȱ ȱ ȱ ȱ
ȱǰȱȱȱȱȱȱęȱ¢ȱ ȱ ȱ ȱ ȱǻŘŞǰŘŝŗǰřŗŞǼȱ ȱǻşŚǰŘřŝǰŝŘŝǼ
Net (decrease)/increase in cash and cash equivalentsȱ ȱ ȱ ȱ ȱǻŘŖǰŞŝřǰŗşŘǼȱ ȱśŞŖǰŖśŗȱ

ěȱȱ¡ȱȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱśŘŚǰŝşřȱȱ ȱǻŗǰśŘŗǰŘşŘǼ
ȱȱȱȱȱȱȱȱęȱ¢ȱ ȱ ȱ ȱ ȱŗŘŜǰŝŚŝǰřŞŝȱȱ ȱŗŘŝǰŜŞŞǰŜŘŞȱ
ȱȱȱȱȱȱȱȱęȱ¢ȱǻȱŗŞǼȱ ȱ ȱ ȱ ȱŗŖŜǰřşŞǰşŞŞȱȱ ȱŗŘŜǰŝŚŝǰřŞŝȱ
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ANNUAL REPORT 2019
NOTES TO THE FINANCIAL STATEMENTS

1. CORPORATE INFORMATION
ȱ ȱ¢ȱȱȱȱȱ¢ȱ¢ǰȱȱȱȱȱ¢ǰȱȱȱȱȱȱȱȱ
ȱȱ¢ȱǯȱȱȱĜȱȱȱ¢ȱȱȱȱȱśŝŗŖǰȱȱ ȱǰȱǰȱśŞŘŖŖȱ
ȱǯ
ȱ ȱȱ¢ȱȱȱǯǰȱǯǰȱȱȱȱȱǯ
ȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱǯȱ
ȱȱȱȱęȱȱȱȱȱȱȱȱȱȱȱęȱ¢ǯ
ȱ ȱęȱȱ ȱȱȱȱ¢ȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱ
ŘŝȱȱŘŖŗşǯ
2. SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of preparation
ȱ ȱęȱȱȱȱ¢ȱ¢ȱ ȱ¢ȱȱȱȱǻȃȄǼǰȱȱ
ȱȱȱǻȃȄǼȱȱȱȱȱȱȱȱŘŖŗŜȱȱ¢ǯ
ȱ ȱęȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱ ǯ
ȱ ȱęȱȱȱȱȱȱ¢ȱǻȃȄǼȱ ȱȱȱȱ¢Ȃȱȱ¢ǯ
ȱ ŘǯŘȱ ȱȱȱȱȱěȱȱȱȱȱ ȱȱȱȱ
ȱ ȱȱŗȱȱŘŖŗŞǰȱȱ¢ȱȱȱ ȱ ȱȱȱȱȱȱȱǻ¢ȱ
ȱȱȱȃȄǼȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱǻȃȄǼǱȱ
ȱ ȱ ǰȱȱȱȱěȱȱȱȱȱȱȱȱŗȱȱŘŖŗŞ
ȣȱ ȱȱȱŗǱȱȬȱȱȱ¢ȱȱȱȱǻȱȱȱ
ȱȱŘŖŗŚȬŘŖŗŜȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱȱŘǱȱęȱȱȱȱȬȱ¢ȱ
ȱ ȱ ȣȱ ȱşǱȱȱ
ȱ ȱ ȣȱ ȱŗśǱȱȱȱȱ ȱ
ȱ ȱ ȣȱ ęȱȱȱŗśȱȱȱȱ ȱ
ȣȱ ȱȱȱŗŘŞǱȱȬȱȱȱȱȱȱȱǻȱȱȱȱ
ȱŘŖŗŚȬŘŖŗŜȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱȱŗŚŖǱȱȱȱȱ¢
ȱ ȱ ȣȱ ȱȱŘŘǱȱȱ¢ȱȱȱȱ
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ANNUAL REPORT 2019
Notes to the Financial Statements

For the financial year ended 31 March 2019 (cont’d.)
2. SIGNIFICANT ACCOUNTING POLICIES (CONT’D.)
ȱ ŘǯŘȱ ȱȱȱȱȱěȱȱȱȱȱ ȱȱȱȱǻȂǯǼ
ȱ ȱȱȱȱȱȱȱȱȱȱȱęȱȱȱȱȱȱ¢Ȃȱ
ęȱȱ¡ȱȱȱȱ Ǳ
(a) MFRS 9 Financial Instruments
ȱ ȱşȱȱȱȱȱŗřşȱȱǱȱȱȱȱȱȱ

ȱ ȱ ȱ ȱ ȱ ŗȱ ȱ ŘŖŗŞǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ
Ǳȱęȱȱǲȱǲȱȱȱǯȱ
ȱ ȱ¢ȱȱȱȱşȱ¢ǰȱ ȱȱȱȱȱȱŗȱȱŘŖŗŞǯȱȱ¢ȱȱ
ȱȱȱȱǰȱ ȱȱȱȱȱȱȱŗřşǯ
ȱ ȱ ȱ ǻǼȱ ęȱȱ
ȱ ȱȱşǰȱȱȱȱ¢ȱȱȱȱȱȱęȱȱȱǻȃȄǼǰȱ
ȱǰȱȱȱȱȱȱȱȱǻȃȄǼǯȱȱęȱȱȱȱ ȱ
Ǳȱȱ¢Ȃȱȱȱȱȱȱǲȱȱ ȱȱȂȱȱȱ
Ě ȱȱȁ¢ȱ¢ȱȱȱȱȂȱȱȱȱȱǯȱ
ȱ ȱȱȱȱ¢Ȃȱȱȱ ȱȱȱȱȱȱȱȱǰȱŗȱȱŘŖŗŞǯȱ
ȱȱȱ ȱȱȱĚ ȱȱȱȱȱ¢ȱȱȱȱȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱ
ȱ ȱęȱȱȱȱȱȱşȱȱȱȱȱęȱȱȱȱ¢ǯȱ
ȱ ȱȱȱȱȱȱęȱȱȱ¢ȂȱęȱǱȱ
Ȭȱ ȱ ȱ ȱ ȱ ǻ¡ȱ ¢ȱ ȱ ȱ ȱ ȱ ¡ȱ ǻȃ ȄǼȱ Ǽǰȱ
ȱȱȱȱȱȱȱ¢ȱęȱȱȱȱȱȱȱ
ȱȱȱȱĚ ȱȱȱȱȱȱĚ ȱȱ¢ȱ¢ȱȱȱȱ
ǯȱȱȱ ȱęȱȱȱȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ¢ȱȱȱȱ¢ȱęȱȱȱǯ
ȱ ȱ ȱ ȱ ȱȱȱȱȱęȱȱȱȱȱ¢Ȃȱęȱǯȱ
ȱ ȱ¢ǰȱȱȱȱȱȱşǰȱȱ¢ȱȱȱ ȱȱȱȱęǱȱ
As at 1 April 2018 MFRS 139 MFRS 9

measurement measurement
category category
Loan and Amortised

receivables cost
RM RM
ȱ ȱ ȱ ȱ ȱȱȱȱȱǻȱȱȬǼȱ ȱ ȱ śśǰŘśŗǰŘŖşȱȱ śśǰŘśŗǰŘŖşȱ

ȱ ȱ ȱ ȱ ȱȱ ȱ ȱ ȱ ŗŜşǰşŜŖǰŝŗŘȱȱ ŗŜşǰşŜŖǰŝŗŘȱ
ȱ ȱ ȱ ȱ ȱȱȱȱ ȱ ȱ ȱ ŗŘŜǰŝŚŝǰřŞŝȱȱ ŗŘŜǰŝŚŝǰřŞŝȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ řśŗǰşśşǰřŖŞȱȱ řśŗǰşśşǰřŖŞȱ
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ANNUAL REPORT 2019

ȱ ŘǯŘȱ ȱȱȱȱȱěȱȱȱȱȱ ȱȱȱȱǻȂǯǼ
(a) MFRS 9 Financial Instruments (cont’d.)
(ii) Impairment
ȱ ȱȱȱȱşȱȱȱȱ¢Ȃȱȱȱȱȱȱęȱȱ¢ȱ
ȱȱŗřşȂȱȱȱȱ ȱȱ Ȭȱ¡ȱȱȱǻȃȄǼȱǯȱ
ȱ şȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ ǻȃȄǼȱ ȱ ȱ ȱ
ȱȱȱȱȱȱȱǯȱ
ȱ ȱȱȱȱşȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ
¢Ȃȱȱȱȱǯ
ȱ ȱ ǻǼȱ ȱŗśȱȱȱȱ ȱ
ȱ ȱ ŗśȱ ȱ ȱ ȱ ȱ ȱ ŗŗŗǱȱ ȱ ǰȱ ȱ ŗŗŞǱȱ ǰȱ ȱ ȱ ŗřǱȱ
ȱ¢¢ȱǰȱȱȱŗśǱȱȱȱȱȱȱȱǰȱȱȱŗŞǱȱ
ȱȱȱȱȱȱȱȱŗřŗǱȱȱȬȱȱȱȱȱ
ǯȱȱŗśȱȱȱęȬȱȱȱȱȱȱȱȱȱ ȱȱȱ
ȱȱȱȱȱȱȱȱȱĚȱȱȱȱ ȱȱ¢ȱ¡ȱȱȱ
ȱȱ¡ȱȱȱȱȱȱȱȱǯ
ȱ ȱŗśȱȱȱȱ¡ȱǰȱȱȱȱȱȱȱȱȱȱȱ
ȱ¢ȱȱȱȱȱȱȱȱ ȱȱǯȱȱȱȱęȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱęȱȱǯȱȱǰȱȱ
ȱȱ¡ȱǯȱ
ȱ ȱ¢ȱȱȱŗśȱȱęȱȱȱȱȱ ȱȱěȱȱȱȱ
ȱȱŗȱȱŘŖŗŞǯȱȱȱǰȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱ¢ȱȱȱȱȱȱȱȱȱǯȱȱ¢ȱȱȱ¢ȱȱȱ¢ȱ
ȱȱȱȱȱȱȱȱŗȱȱŘŖŗŞǯ
ȱ ȱȱȱȱŗśȱȱȱȱȱȱȱęȱȱȱȱȱȱȱȱ
¢Ȃȱęȱǯ
ȱ Řǯřȱ ¢ȱȱęȱȱ
ȱ ȱȱȱȱȱ ȱȱȱȱ¢ȱȱȱȱȱȱȱęȱǰȱ
ȱ ȱǯȱ
(a) Foreign currency
(i) Functional and presentation currency
ȱ ȱęȱȱȱȱ¢ȱȱȱȱȱ¢ȱȱȱ¢ȱȱȱ
ȱ ȱȱ¢ȱȱǻȃȱȱ¢ȄǼǯȱȱęȱȱȱȱȱǰȱ ȱȱ
ȱȱ¢Ȃȱȱ¢ǯ
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ANNUAL REPORT 2019

ȱ Řǯřȱ ¢ȱȱęȱȱȱǻȂǯǼ
(a) Foreign currency (cont’d.)
(ii) Foreign currency transactions
ȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱȱ¢ȱȱȱȱ
ȱȱȱȱȱȱ¢ȱȱ¡ȱȱ¡ȱȱȱȱȱȱ
ǯȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱ¡ȱ
ȱ ȱ ȱ ȱ ǯȱ Ȭ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱ¡ȱȱȱȱȱȱȱȱȱǯȱȬ¢ȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱ¡ȱȱȱȱ
ȱ ȱȱȱȱ ȱǯ
ȱ ¡ȱ ěȱ ȱ ȱ ȱ Ĵȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ȱȱȱȱȱęȱȱǯ
ȱ ¡ȱěȱȱȱȱȱȱȬ¢ȱȱȱȱȱȱȱȱȱęȱ
ȱȱȱȱȱ¡ȱȱȱěȱȱȱȱȱȱȬ¢ȱȱȱȱȱ
ȱȱȱȱȱȱ¢ȱȱ¢ǯȱ¡ȱěȱȱȱȱȬ¢ȱ
ȱȱȱȱ¢ȱȱ¢ǯ
(b) Property, plant and equipment
ȱ ȱȱȱ¢ǰȱȱȱȱȱ¢ȱȱȱǯȱȱȱȱȱȱȱ¢ǰȱȱȱ
ȱȱȱȱȱȱǰȱȱ¢ȱǰȱȱȱȱȱȱȱęȱȱ ȱȱ
ȱ ȱĚ ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¢ǯȱȱ
ȱ ȱȱǰȱ¢ǰȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱǯȱȱęȱȱȱ¢ǰȱȱȱȱȱȱȱȱȱ
ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ǰȱ
¢ǯȱ ǰȱ ȱȱȱȱȱǰȱȱȱȱȱȱȱ¢ȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱęǯȱȱ¢ȱȱȱȱȱȱ
ȱǯȱȱȱȱȱȱȱȱȱȱęȱȱȱȱǯȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱǯȱȱȱȱȱȱȱ
ȱȱȱȱȱǯȱȱȱȱȱȱȬȱȱȱȱȱȱȱ
ȱȱȱȱ Ǳ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Śȱȱŗśȱ¢ȱ
ȱ ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ Ŝȱ¢
ȱ ȱ ȱ ǰȱ¢ȱȱȱ ȱ ȱ ȱ ȱ Śȱȱŗśȱ¢
ȱ ȱ ȱ ǰȱę¡ȱȱęĴȱ ȱ ȱ ȱ ȱ ŗŖȱ¢
ȱ ȱ ȱȱȱȱȱ¢ǰȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱǯȱ
ȱ ȱ ¢ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱ¢ȱȱ¢ȱȱȱǯȱ
ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢Ȭȱ ȱ ȱ ȱ
ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ Ĵȱ ȱ
ȱȱȱȱęȱȱȱȱ¢ǰȱȱȱǰȱȱȱ¢ǰȱ
ȱǯ
ȱ ȱȱȱ¢ǰȱȱȱȱȱȱȱȱȱ ȱȱȱȱęȱȱ
¡ȱȱȱȱȱǯȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱęȱȱȱȱȱ
¢ȱȱȱȱǯ
53
ANNUAL REPORT 2019

ȱ ȱ ǻǼȱ ȱȱȬęȱȱ ȱ ȱ
ȱ ȱ¢ȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱ¢ȱȱǯȱȱ¢ȱ
ȱȱ¡ǰȱȱ ȱȱȱȱȱȱȱȱȱǰȱȱ¢ȱȱȱ
ȱȱȱȂȱȱǯȱ
ȱ ȱȂȱȱȱȱȱȱȱȱȂȱȱȱȱȱȱȱȱȱȱȱǯȱȱȱ
ȱȱȱǰȱȱȱȱȱȱ ȱȱȱ ȱȱȱ¢ȱęȱ
ȱĚ ȱǻȬȱȱǻȃ ȄǼǼǯȱ
ȱ ȱȱȱȱǰȱȱȱȱȱĚ ȱ¡ȱȱȱȱ¢ȱȱȱȱȱȱ
ȱȱȱȱȱȬ¡ȱȱȱȱĚȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱȱęȱȱȱǯȱȱȱ¢ȱȱȱȱȱ¡ȱȱȱǰȱȱȱȱ
Ĵȱ ȱȱȱȱǯȱȱȱȱȱȱȱȱ ȱȱȱȱ ȱȱ
ȱęȱȱȱȱ¢ȱȱȱ¢ȱ ȱȱȱȱȱȱȱȱȱȱǰȱȱ
ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȬȱǯȱȱ
ȱ ȱ ȱ ȱȱȱȱȱęȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ
ȱȱ¢ȱȱȱ¡ȱȱ¢ȱȱǯȱȱ¢ȱȱȱȱȱȱ
¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȃȱ ȱ ȱ ȱ ȱ ȱ
ȱȱ ȱǯȱȱȱȱȱǰȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ǯȱȱȱȱ¡ȱȱ¢ȱȱȱ ȱȱȱǰȱȱȱǰȱȱ
ȱȱȱȱȱ¢ǯȱȱȱȱȱȱęȱȱǯ
(d) Financial assets
Initial recognition and measurement - accounting policies applied from 1 April 2018
ȱ ȱ ȱ ȱ ęǰȱ ȱ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ǰȱ ȱ
ǯȱ
ȱ ȱ ęȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ Ȃȱ ȱ ȱ Ě ȱ
ȱȱȱ¢Ȃȱȱȱȱȱǯȱȱȱ¡ȱȱȱȱȱ
ȱȱȱȱęȱęȱȱȱȱ ȱȱ¢ȱȱȱȱȱ¡ǰȱ
ȱ¢ȱ¢ȱȱȱęȱȱȱȱȱȱǰȱȱȱȱȱȱęȱȱȱȱǰȱ
ȱǯȱȱȱȱȱȱȱȱęȱęȱȱȱȱ ȱȱ¢ȱ
ȱȱȱȱ¡ȱȱȱȱȱȱȱȱȱȱŗśǯ
ȱ ȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱĚ ȱȱȱȁ¢ȱ¢ȱȱȱȱȱǻȃȄǼȂȱȱȱȱȱǯȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱ
ȱ ȱ¢Ȃȱȱȱȱȱęȱȱȱȱ ȱȱȱȱęȱȱȱȱȱ
ȱȱĚ ǯȱȱȱȱȱ ȱȱĚ ȱ ȱȱȱȱȱȱ
Ě ǰȱȱȱęȱǰȱȱǯȱ
ȱ ȱȱȱȱęȱȱȱȱ¢ȱȱȱ ȱȱȱȱȱ¢ȱȱȱ
ȱȱȱȱȱǻȱ ¢ȱǼȱȱȱȱȱȱǰȱǯǯǰȱȱȱȱȱ¢ȱ
ȱȱȱȱȱȱǯ
54
ANNUAL REPORT 2019

(d) Financial assets (cont’d.)
Subsequent measurement - accounting policies applied from 1 April 2018
ȱ ȱ ȱ ȱȱȱȱǰȱęȱȱȱęȱȱȱǱȱȱ
ȱ ȱ ȱ ǻǼȱ ȱȱȱȱȱǻȱǼȱȱ ȱ ȱ ȱ
ȱ ȱ ȱ ǻǼȱ ȱȱȱȱ ȱ¢ȱȱȱȱȱȱǻȱǼȱȱ ȱ
ǻǼȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǻ¢ȱǼȱ
ȱ ȱ ȱ ǻǼȱ ȱȱȱ
Financial assets at amortised cost (debt instruments)
ȱ ȱ¢ȱȱȱȱȱȱȱ¢ǯȱȱ¢ȱȱęȱȱȱȱȱȱȱ
ȱȱ ȱȱȱǱȱ
ǻǼȱ ȱęȱȱȱȱ ȱȱȱȱ ȱȱȱȱȱęȱȱȱȱȱȱ
ȱȱĚ ǲȱ
ǻǼȱ ȱȱȱȱȱęȱȱȱȱȱęȱȱȱȱĚ ȱȱȱ¢ȱ¢ȱȱ
ȱȱȱȱȱȱȱ
ȱ ȱȱȱȱȱȱ¢ȱȱȱȱěȱȱǻȃȄǼȱȱȱȱ
ȱȱǯȱ ȱȱȱȱȱȱęȱȱȱ ȱȱȱȱǰȱęȱȱ
ǯȱ
ȱ ȱ¢Ȃȱęȱȱȱȱȱȱȱȱȱȱǻ¡ȱ¢ȱȱ
ȱǼǰȱȱȱȱȱȱȱǯȱ
ȱȱȱȱǻȱǼȱȱęȱȱȱȱǻ¢ȱǼ
ȱ ȱ ¢Ȃȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ ȱ ȱ ȱ ǻȱ Ǽȱ ȱ ȱ ǻ¢ȱ
Ǽȱȱȱ¢ȱȱřŗȱȱŘŖŗşǯ
Financial assets at FVTPL
ȱ ȱȱȱȱȱȱęȱȱȱȱǰȱęȱȱȱȱȱȱ
ȱǰȱȱęȱȱ¢ȱȱȱȱȱȱȱǯȱȱȱȱęȱȱȱ
ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱǰȱȱ
ȱȱǰȱȱȱęȱȱȱȱȱȱ¢ȱȱȱȱěȱȱ
ǯȱȱȱ ȱȱĚ ȱȱȱȱ¢ȱ¢ȱȱȱȱȱȱęȱȱ
ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ęȱȱȱȱȱȱǰȱȱȱǰȱȱȱ¢ȱȱȱȱȱȱȱ
ȱȱȱȱǰȱȱę¢ȱǰȱȱȱǯȱ
ȱ ȱȱȱȱȱȱȱȱȱȱęȱȱȱȱȱ ȱȱȱȱȱȱ
ȱȱȱęȱȱǯȱȱ
ȱ ȱ ȱ ȱ¢ȱȱȱǯ
55
ANNUAL REPORT 2019

Initial recognition and measurement - accounting policies applied up to 31 March 2018
ȱ ȱȱȱȱȱȱȱȱęȱȱ ǰȱȱ¢ȱ ǰȱȱ¢ȱȱȱ
¢ȱȱȱȱȱȱȱęȱǯ
ȱ ȱȱęȱȱȱȱ¢ǰȱ¢ȱȱȱȱȱǰȱǰȱȱȱȱȱęȱȱ
ȱȱǰȱ¢ȱĴȱȱǯ
ȱ ȱ¢ȱȱȱęȱȱȱęȱȱȱȱǰȱȱȱȱȱ
ęȱȱȱǰȱȱȱǰȱȬȬ¢ȱȱȱȬȬȱęȱǯ
Subsequent measurement - accounting policies applied up to 31 March 2018
Financial assets at FVTPL
ȱ ȱȱȱęȱȱęȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ
ȱǯȱȱȱȱȱȱȱȱǻȱȱȱǼȱȱ
ęȱȱȱ¢ȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱȱǰȱęȱȱȱȱȱȱȱȱǯȱ¢ȱȱȱȱȱ
ȱȱȱȱȱȱȱȱęȱȱǯȱȱȱȱȱȱȱęȱȱȱȱȱȱ
ȱ¡ȱěǰȱȱȱȱǯȱ¡ȱěǰȱȱȱȱȱȱ
ęȱȱȱȱȱȱ¢ȱȱęȱȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱȱȱȱȱȱȱȱȱȬǯȱȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱ ȱęȱȱȱȱȱȱ¢ȱȱȱȱȱ
ȱȱȱȱȬȱȱȱȱĴȱǯȱ
Loan and receivables
ȱ ȱ ȱ ȱ ę¡ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ȱ
ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǻ¡ȱ
¢ȱȱ ȱǼǰȱȱȱȱȱȱȱǯ
ȱ ȱȱȱǰȱȱȱȱȱȱȱȱȱȱȱȱǯȱ ȱ

ȱȱȱȱȱęȱȱȱ ȱȱȱȱȱȱȱȱǰȱȱȱ
ȱȱǯ
ȱ ȱȱȱȱęȱȱȱǰȱ¡ȱȱȱȱ¢ȱȱȱȱŗŘȱȱ
ȱȱȱȱ ȱȱęȱȱȬǯ
56
ANNUAL REPORT 2019

ȱ Řǯřȱ ¢ȱȱęȱȱȱǻȂǯǼȱ ȱ ȱ ȱ
Subsequent measurement - accounting policies applied up to 31 March 2018 (cont’d.)
Held-to-maturity investments
ȱ ȱȱ ȱę¡ȱȱȱ¢ȱȱę¡ȱ¢ȱȱęȱȱȬȬ¢ȱ ȱȱ
¢ȱȱȱȱȱȱ¢ȱȱȱȱȱȱ¢ǯȱȱ
ȱ ȱ ȱ ȱ ǰȱ ȬȬ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯȱ ȱȱȱȱȱȱęȱȱȱ ȱȱȬȬ¢ȱȱȱȱȱ
ǰȱȱȱȱȱǯȱ
ȱ
ȬȬ¢ȱȱȱęȱȱȬȱǰȱ¡ȱȱȱȱ¢ȱ ȱŗŘȱȱ
ȱȱȱȱ ȱȱęȱȱǯȱ
ȱ ȱ ȱ ȱ¢ȱȱȱȱ¢ȱęȱȱȱȬȬ¢ǯȱȱ
ȬȬȱęȱ
ȱ ȬȬȱęȱȱȱęȱȱȱȱȱȱȱȱȱȱȱȱęȱȱ
¢ȱȱȱȱȱǯȱ
ȱ ȱ ȱ ǰȱ ȬȬȱ ęȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ¢ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱęȱȱȱȱȱȱȱǰȱ¡ȱȱȱ
ǰȱȱ¡ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ
ȱȱȱęȱȱǯȱȱȱȱȱȱ¢ȱȱȱȱȱȱ
ȱęȱȱ¢ȱȱęȱȱȱȱȱęȱȱ ȱȱęȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ęȱ ȱ ǯȱ ȱ ȱ ȱ
ȬȬȱ¢ȱȱȱȱȱęȱȱȱ ȱȱ¢Ȃȱȱȱȱ¢ȱȱ
ǯ
ȱ ȬȬȱęȱȱȱęȱȱȬȱȱȱ¢ȱȱ¡ȱȱȱȱ ȱ
ŗŘȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ¢ȱȱȱȱ¢ȱȬȬȱęȱǯ
Derecognition
ȱ ȱęȱȱǻǰȱ ȱǰȱȱȱȱȱęȱȱȱȱȱȱȱȱȱęȱǼȱȱ
¢ȱȱ Ǳȱ
ȱ ȱ ȱ ǻǼȱ ȱȱȱȱȱĚ ȱȱȱȱȱ¡ǲȱ
ǻǼȱ ȱ¢ȱȱȱȱȱȱȱȱĚ ȱȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱȱĚ ȱȱȱ ȱȱ¢ȱȱȱȱ¢ȱȱȱȁȬȂȱЪȱȱ
ȱǻǼȱȱ¢ȱȱȱ¢ȱȱȱȱȱ ȱȱȱǰȱȱǻǼȱȱ¢ȱ
ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
ȱȱȱȱ
ȱ ȱȱ¢ȱȱȱȱȱȱȱȱĚ ȱȱȱȱȱȱȱȱȱȬȱ
ǰȱȱȱǰȱȱȱ ȱ¡ǰȱȱȱȱȱȱȱ ȱȱ ǯȱȱȱȱ
ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ
ȱǰȱȱ¢ȱȱȱȱȱȱȱȱȱ¡ȱȱȱȱǯȱȱ
ȱǰȱȱ¢ȱȱȱȱȱ¢ǯȱȱȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱĚȱȱȱȱȱȱȱ¢ȱȱǯȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱ
ȱȱ¢ȱȱȱȱȱȱȱ¡ȱȱȱȱȱȱ¢ȱȱȱ
ȱȱ¢ǯȱ
57
ANNUAL REPORT 2019

ȱ ȱ ǻǼȱ ȱȱęȱȱ ȱ ȱ ȱ ȱ
Accounting policies applied from 1 April 2018
ȱ ȱȱȱȱȱǰȱȱ¢ȱȱȱęȱȱȱȱǯȱǰȱ
ȱ¢ȱȱȱȱȱȱȱǰȱȱȱȱȱȱ ȱȱȱȱȱ
ȱȱȱǯȱȱ¢ȱȱȱȱȱ¡ȱȱȱȱȱȱȱȱȱ
¡ǰȱȱȱ Ȭȱȱęȱȱȱȱȱȱȱǯ
ȱ ȱ¢ȱȱȱęȱȱȱȱ ȱȱ¢ȱȱȱ¢ȱȱǯȱ
ǰȱȱ
ȱǰȱȱ¢ȱ¢ȱȱȱȱęȱȱȱȱȱȱ ȱȱȱ¡ȱȱ
ȱ ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱ¢ȱȱȱȱ¢ȱȱ¢ǯȱȱęȱȱȱ Ĵȱěȱ ȱȱȱȱȱ
¡ȱȱȱȱȱȱĚ ǯȱ
Accounting policies applied up to 31 March 2018
ȱ ȱ¢ȱȱȱȱȱȱ ȱȱȱ¢ȱȱȱȱȱęȱȱȱǯ
ȱ ȱ ȱ ǻǼȱ ȱȱȱȱȱȱęȱȱȱȱȱ
ȱ ȱȱ ȱȱȱȱȱȱȱȱȱȱęȱȱȱȱǰȱ
ȱ¢ȱȱȱȱȱȱ¢ȱȱ¢ȱȱęȱęȱĜȱȱȱ
ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ęȱ ǰȱ ȱ ȱ ȱ
ǰȱȱȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱ
ȱȱȱȱȱȱȱȱȱǯȱȱȱȱȱȱȱȱ
ȱȱȱȱȱ¢Ȃȱȱ¡ȱȱȱ¢ǰȱȱȱȱȱȱ
ȱ¢ȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱ ȱȱȱǯ
ȱ ȱ¢ȱȱȱ¡ǰȱȱȱȱȱȱȱȱȱȱěȱ ȱȱȂȱ
¢ȱȱȱȱȱȱȱȱȱȱĚ ȱȱȱȱęȱȂȱȱ
ěȱȱǯȱȱȱȱȱȱȱęȱȱǯ
ȱ ȱ¢ȱȱȱȱęȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱęȱȱ ȱ
ȱ¡ȱȱǰȱ ȱȱ¢ȱȱȱȱȱȱȱȱȱ ȱǯȱ
ȱȱȱȱǰȱȱȱ Ĵȱěȱȱȱ ȱǯ
ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
¢ȱȱȱȱȱȱȱȱ ȱǰȱȱ¢ȱȱȱ
ȱȱȱȱȱ¡ȱȱȱ¢ȱȱȱȱȱȱȱ¡ȱȱȱȱȱȱȱ
ǯȱȱȱȱȱȱȱȱęȱȱǯȱ
ȱ ȱ ȱ ǻǼȱ ȬȬȱęȱ
ȱ ęȱȱȱȱȱȱȱ ȱǰȱęȱęȱĜȱȱȱȱȱǰȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱȱȱęȱȱȬȬȱęȱȱȱǯȱ
ȱ ȱȱȬȬȱęȱȱȱǰȱȱȱȱȱěȱ ȱȱȱǻȱ
ȱ ¢ȱ ȱ ¢ȱ ȱ Ǽȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ¢ȱ
ȱȱęȱȱǰȱȱȱȱ¢ȱȱęȱȱǯ
58
ANNUAL REPORT 2019

ȱ ȱ ǻǼȱ ȱȱęȱȱǻȂǯǼȱ ȱ ȱ ȱ ȱ
Accounting policies applied up to 31 March 2018 (cont’d.)
ǻǼȱ ȬȬȱęȱȱǻȂǯǼ
ȱ ȱȱȱȬȬȱ¢ȱȱȱȱȱȱęȱȱȱȱȱȱ
ǯȱ ȱ ȱ ȱ ǰȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯȱ ȱ ȬȬȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ęȱ ȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱęȱȱǯ
(f) Cash and cash equivalents
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ
ȱȱȱȱȱ ȱȱȱȱȱęȱȱȱȱȱǯȱ
(g) Inventories
ȱ ȱȱȱȱȱ ȱȱȱȱȱȱǯȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱ Ǳ
ȱ ȱ ȱ Ȭȱ ȱǱȱȱȱȱȱ ȱȱǯ
Ȭȱ ȱȱȱ ȬȬǱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱ¢ǯȱȱȱȱȱȱȱ ȱȱǯ
ȱ ȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ
ȱȱȱȱ¢ȱȱȱȱǯȱ
(h) Provisions
ȱ ȱȱȱ ȱȱ¢ȱȱȱȱȱǻȱȱǼȱȱȱȱȱȱȱ
ǰȱȱȱȱȱȱĚ ȱȱȱȱ ȱȱȱȱĴȱȱȱȱȱȱȱ
ȱȱȱȱȱ¢ǯȱ
ȱ ȱȱ ȱȱȱȱȱȱȱȱĚȱȱȱȱǯȱȱȱȱȱȱ
ȱȱȱĚ ȱȱȱȱ ȱȱȱȱĴȱȱǰȱȱȱȱǯȱȱ
ȱěȱȱȱȱȱȱ¢ȱȱǰȱȱȱȱȱȱȱȱ¡ȱȱȱĚǰȱ
ȱǰȱȱȱęȱȱȱ¢ǯȱȱȱȱǰȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱęȱǯ
(i) Financial liabilities
Initial recognition and measurement
ȱ ȱȱȱęǰȱȱȱǰȱȱęȱȱȱǰȱęȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱěȱǰȱȱǯ
ȱ ȱęȱȱȱȱ¢ȱȱȱȱǰȱȱȱȱȱȱȱ ȱȱ¢ǰȱȱ
ȱ¢ȱĴȱȱǯȱ
ȱ ȱ ȱ ȱ¢Ȃȱęȱȱȱȱȱȱ¢ȱȱȱǯ
59
ANNUAL REPORT 2019

(i) Financial liabilities (cont’d.)
Subsequent measurement
ȱ ȱ ȱ ȱȱȱęȱȱȱȱȱęǰȱȱȱ Ǳȱ
Financial liabilities at FVTPL
ȱ ȱȱȱȱȱęȱȱȱȱȱȱęȱȱȱȱ
ȱȱȱȱǯȱ
ȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱ
ȱǯȱȱȱȱ¢ȱȱȱȱȱȱ¢ȱȱȱȱǰȱ
ȱ¢ȱȱȱȱȱȱȱęȱȱǯȱȱȱȱȱȱȱȱ¡ȱ
ěǯ
Financial liabilities at amortised costs
ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯȱ ȱȱȱȱȱȱęȱȱȱ ȱȱȱȱǯ
Derecognition
ȱ ȱęȱ¢ȱȱȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱ¡ǯȱ
ȱȱ¡ȱęȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱ¢ȱěȱǰȱ
ȱȱȱȱȱ¡ȱ¢ȱȱ¢ȱęǰȱȱȱ¡ȱȱęȱȱȱȱȱ
ȱȱȱȱ¢ȱȱȱȱȱȱ ȱ¢ǯȱȱěȱȱȱȱ¢ȱ
ȱȱȱȱȱȱȱęȱȱǯȱ
ȱ ȱ ǻǼȱ ěĴȱȱęȱȱ
ȱ ȱȱȱęȱȱȱěȱȱȱȱȱȱȱȱȱȱȱęȱȱ
ȱȱȱȱ¢ȱȱȱȱȱěȱȱȱȱȱȱȱȱȱȱĴȱȱȱ
ȱǰȱȱȱȱȱȱĴȱȱȱ¢ǯȱ
ȱ ȱ ǻǼȱ ¢ȱę
ȱ ȱ ȱ ǻǼȱ ȱȱę
ȱ ǰȱǰȱȱȱȱ¢ȱȱȱȱȱȱ¡ȱȱȱȱȱ ȱ
ȱȱȱȱȱ¢ȱ¢ǯȱȱȱȱȱȱȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ
ȱȱȱǯȱȱȱȬȱȱȱȱȱȱȱȱ
ȱ ȱȱȱǯȱ
ȱ ȱ ȱ ǻǼȱ ęȱȱ
ȱ ęȱ ȱ ȱ ȱ Ȭ¢ȱ ęȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ȱ ę¡ȱ
ȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱ¢ȱȱ
ȱȱ¢ȱȱȱȱȱȱȱĜȱȱȱ¢ȱȱ¢ȱęȱȱȱ¢ȱ
ȱȱȱȱȱȱęȱ¢ǯȱȱȱ¢ȱ ǰȱȱ¢ȱȱȱ
ȱȱȱȱǰȱȱ¢ȱȱȱǻȃȄǼǯȱȱȱȱȱȱȱ
¡ȱȱȱęȱȱȱȱǯ
60
ANNUAL REPORT 2019

ȱ ȱ ǻǼȱ ¢ȱęȱǻȂǯǼ
ȱ ȱ ȱ ǻǼȱ ęȱęȱ
ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ęȱ ęȱ ȱ ȱ ¢ȱ ȱ ¡ȱ ȱ ȱ ȱ
ȱ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ęȱ ȱ ȱ ¢ȱ
ȱȱȱȱ ȱȱȱǯ
ȱ ȱęȱęȱȱȱȱȱȱȱęȱęȱȱȱȱȱȱȱ
ȱ¢ȱȱęȱȱȱȱȱȱȱǯ
ȱ Ȭǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
ęȱȱ ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱǯȱ
ȱȱȱęȱȱęȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱȱȱȱȱȱęȱȱȱȱȱȱǱȱ
Ȭȱȱ ȱȱȱȱȱȱȱǲȱȱ
Ȭȱȱ ȱȱȱȱ¢ȱȱȱȱǯ
ȱ ȱȱȱȱ¢ȱ¢ȱȱȱȱȱȱȱęȱęȱ¢ȱȱȱȱȱȱ
ȱęȱȱǯȱȱȱ¢ȱȱȱ ȱȱȱȱȱęȱęȱȱȱęȱ
ȱǱ
Ȭȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȬȱĴǯ
Ȭȱ ȱȱ¡ȱȱǯ
(l) Leases
(i) As lessee
ȱ ȱǰȱ ȱȱȱȱ¢ȱ¢ȱȱȱȱȱ ȱȱȱ ȱȱ
ȱȱǰȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱǰȱȱ ǰȱȱȱ
ȱȱȱȱȱȱ¢ǯȱ¢ȱȱȱȱȱȱȱȱȱȱǯȱ
ȱ ȱ¢ȱȱȱ ȱȱęȱȱȱȱȱȱȱ¢ȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱ¢ǯȱȱȱȱȱȱęȱȱǯȱ
ȱǰȱȱ¢ǰȱȱȱȱ¡ȱȱȱȱȱ ȱ¢ȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ
ǰȱ ȱ ȱ ȱ ȱ ȱ
¢ȱȱȱ¢ȱ ȱȱ ȱ¢ȱȱȱȱȱȱǰȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱ¢ȱȱȱȱȱ¡ȱȱęȱȱȱȱȱȬȱȱȱȱȱ
ǯȱȱȱęȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¡ȱ
ȱȱȱȱȱȱȬȱǯȱ
61
ANNUAL REPORT 2019

(l) Leases (cont’d.)
(ii) As lessor
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱęȱȱȱȱȱ
ȱȱȱǯȱȱȱȱȱȱȱȱȱȱȬȱȱȱȱȱȱ
ȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
¢ȱȱȱȱȱȱȱȱȱȱȬȱȱȱȱȱǯ
ȱ ȱ ǻǼȱ ȱȱȱ ȱ
ȱ ȱȱȱ ȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱĚȱȱȱȱ ȱȱ¢ȱ¡ȱȱȱȱȱ¡ȱȱ
ȱȱȱǯȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ
ǻȱ ȱȱ Ǽȱȱȱ¢¢ȱȱȱȱȱȱȱȱȱȱȱ
ǯ
ȱ ȱ¢ȱȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǻǯǯǰȱ ǰȱ Ȭȱ ȱ ȱ
ȱ¢ȱȱȱǰȱȱ¢Ǽǯȱȱȱȱȱȱȱǰȱȱȱȱ ȱ
ȱȱȱȱęǰȱ ȱ¢ȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱȱȱȱȱȱȱȱǰȱȱ¢ȱȱȱȱȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ęȱ ȱ ȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ȱȱ¢ȱǯȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱ
ȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱǯ
ȱ ¢ǰȱȱ¢ȱȱȬȱȱȱȱǯȱȱȱȱ¡ȱȱȱ
ŗśǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ęȱ ęȱ
ȱȱȱ¡ǰȱȱȱǰȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱ
ȱȱȱ ȱȱȱ¢ȱȱȱȱȱȱ ȱȱȱ¢ȱȱǯ
(i) Sale of goods
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱ
ǰȱ¢ȱȱ¢ȱȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱşŖȱ¢ǯ
(n) Other Items of Income
(i) Interest income and distribution from investment securities
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ǯ
(ii) Rental income
ȱ ȱȱȱȱȱȱȱȬȱȱȱȱȱǯȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȬȱǯ
(iii) Other income
ȱ ȱȱȱȱȱǰȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ
ǯ
62
ANNUAL REPORT 2019

(o) Taxes
(i) Current income tax
ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
¡ȱ ǯȱ ȱ ¡ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
¢ȱȱ¢ȱȱȱǯȱ
ȱ ȱ¡ȱȱȱȱęȱȱȱ¡ȱȱȱ¡ȱȱȱ¡ȱȱȱȱȱȱ
ęȱȱǰȱȱȱȱȱȱȱ¢ȱȱ¢ǯȱ
(ii) Deferred tax
ȱ ȱ¡ȱȱȱȱȱ¢ȱȱȱ¢ȱěȱȱȱȱȱ ȱȱ
¡ȱȱȱȱȱȱȱȱ¢ȱȱȱęȱȱǯ
ȱ ȱ ȱ ȱ ȱ¡ȱȱȱȱȱȱ¢ȱěǰȱ¡Ǳ
Ȭȱ ȱȱȱ¡ȱ¢ȱȱȱȱȱȱȱ ȱȱȱȱȱȱ¢ȱ
ȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱǰȱěȱȱȱ
ȱęȱȱ¡ȱęȱȱǲȱ
Ȭȱ ȱ ȱ ȱ ¡ȱ ¢ȱ ěȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ
ȱȱȱǰȱ ȱȱȱȱȱȱȱȱ¢ȱěȱȱȱȱ
ȱȱȱȱȱȱ¢ȱěȱ ȱȱȱȱȱȱǯȱ
ȱ ȱ¡ȱȱȱȱȱȱȱ¢ȱěǰȱ¢ȱ ȱȱȱ¡ȱȱ
ȱȱ¡ȱǰȱȱȱ¡ȱȱȱȱȱȱ¡ȱęȱ ȱȱȱȱ ȱȱ
ȱ¢ȱěǰȱȱȱ¢ȱ ȱȱȱ¡ȱȱȱȱ¡ȱȱȱȱ
ȱ¡Ǳȱ
Ȭȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ěȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱ
ǰȱěȱȱȱȱęȱȱ¡ȱęȱȱǲȱȱ
Ȭȱ ȱȱȱȱ¢ȱěȱȱ ȱȱȱǰȱȱȱ
ȱȱȱǰȱȱ¡ȱȱȱȱ¢ȱȱȱ¡ȱȱȱȱȱȱȱ
¢ȱěȱ ȱȱȱȱȱȱȱ¡ȱęȱ ȱȱȱȱ
ȱȱ¢ȱěȱȱȱǯȱ
ȱ ȱ¢ȱȱȱȱ¡ȱȱȱ ȱȱȱȱȱȱȱȱȱ¡ȱȱȱȱ
ȱȱȱȱĜȱ¡ȱęȱ ȱȱȱȱ ȱȱȱȱȱȱȱ¡ȱȱȱ
ȱǯȱȱȱ¡ȱȱȱȱȱȱȱȱȱȱȱȱȱ
¡ȱȱȱȱȱȱȱȱ¡ȱęȱ ȱ ȱȱȱ¡ȱȱȱȱǯȱȱ
ȱ ȱ¡ȱȱȱȱȱȱȱȱ¡ȱȱȱȱ¡ȱȱ¢ȱȱȱ¢ȱ ȱȱ
ȱȱȱȱȱ¢ȱȱĴǰȱȱȱ¡ȱȱȱ¡ȱ ȱȱȱȱȱȱ¢ȱ
ȱȱȱȱǯȱ
ȱ ȱ¡ȱȱȱȱȱȱęȱȱȱȱȱȱęȱȱǯȱȱ
¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯȱ
ȱ¡ȱȱȱȱ¡ȱȱȱěǰȱȱȱ¢ȱȱȱ¡ȱȱȱěȱȱ
¡ȱȱȱȱ¡ȱȱȱȱȱ¡ȱȱȱȱȱ¡ȱ¢ȱȱȱȱ
¡ȱ¢ǯȱ
63
ANNUAL REPORT 2019

(o) Taxes (cont’d.)
(iii) GST
ȱ ȱȱȱȱ ȱȱȱěȱ ȱȱȱȱȱ ǰȱ¢ȱȱȱȱȱȱ

ȱȱȱȱȱǰȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ
ęȱǯ
(p) Share capital
ȱ ȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ
ȱȱȱǯȱ¢ȱȱȱ¢ȱǯ
¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ¢ȱ Ĵȱ ȱ ȱ ǯȱ
¢ȱȱȱęȱȱ¢ǯȱȱȱ¢ȱȱȱȱȱ¢ȱȱȱȱȱ ȱ
¢ȱȱǯ
(q) Contingencies
ȱ ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱ¡ȱ ȱ
ȱęȱ¢ȱ¢ȱȱȱȱȬȱȱȱȱǻǼȱȱ ¢ȱ ȱȱȱȱ
ȱ¢ǯȱ
ȱ ȱ ȱ ȱȱȱȱȱȱȱȱȱȱȱęȱȱȱȱ¢ǯȱ
(r) Fair value measurements
ȱ ȱȱȱȱȱȱȱ¢ǰȱ¡ȱȱȱǰȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱȱȱȱȱȱȱ¢ȱȱȱ¢ȱȱ ȱȱȱȱȱȱ
ǯȱȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱǯȱ
(i) Financial instruments
ȱ ȱȱȱȱęȱȱȱȱ¢ȱȱȱȱęȱȱȱȱ
¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ęȱ
ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ
ȱ¢ȱǱ
Ȭȱȱ ȱȱȂȱȱȱǲ
Ȭȱȱ ȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱǲȱ
Ȭȱȱ ȱȱĚ ȱ¢ȱȱȱȱǯ
ȱ ȱ ȱ ȱ ȱȱȱȱȱ¢ȱǰȱȱȱȱȱȱȱȱǰȱȱ¢ǯ
ȱ ȱ ȱ ǻǼȱ Ȭęȱ
ȱ ȱȱȬęȱǰȱȱȱȱȱȱȱȱȱȱȂȱ¢ȱȱȱ
ȱęȱ¢ȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱǯȱ
64
ANNUAL REPORT 2019

(r) Fair value measurements (cont’d.)
ȱ ȱȱȱȱȱȱȱȱȱȱ¢ǰȱȱ¢ȱȱȱȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱ Ǳȱ
ȱ ȱ ȱ Ȋȱ ȱŗȱȬȱȱ ȱȱǻǼȱȱȱȱȱȱȱȱǯȱ ȱ
ȱ ȱ ȱ Ȋȱ ȱŘȱȬȱȱ ȱȱȱȱȱȱ ȱȱŗȱȱȱȱȱȱȱȱ¢ǰ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ¢ȱǻǯǯȱȱǼȱȱ¢ȱǻǯǯȱȱȱǼǯ
ȱ ȱ ȱ Ȋȱ ȱřȱȬȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱǻȱǼǯ
ȱ ȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱǯ
ȱ ŘǯŚȱ ȱȱȱȱȱ¢ȱȱě
ȱ ȱȱȱȱȱȱȱȱȱ¢ȱěȱȱȱ ǯȱȱ¢ȱȱȱȱ
ȱǰȱȱǰȱ ȱ¢ȱȱěǯȱȱ
ȱ ȱ ǰȱȱȱȱěȱȱȱȱȱȱȱȱŗȱ¢ȱŘŖŗş
ȱ ȱ ȣȱ ȱȱȱŗŗşǱȱ¢ȱęȱȮȱȱǰȱȱȱĴ
ȱ ȱ ȣȱ ȱȱȱşǱȱȱȱȮȱ¢ȱȱ ȱȱ
ȱ ȱ ȣȱ ȱŗŜǱȱȱ ȱ ȱ ȱ ȱ
ȣȱ ȱȱȱŗŘŞǱȱȱȱȱȱȱǱȱȬȱȱȱȱȱȱ

ȱ ȱ ȣȱ ȱȱȱřǱȱȱȱǻȱȱȱȱȱŘŖŗśȬŘŖŗŝȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱȱŗŗǱȱȱȱǻȱȱȱȱȱŘŖŗśȬŘŖŗŝȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱȱŗŗŘǱȱȱ¡ȱǻȱȱȱȱȱŘŖŗśȬŘŖŗŝȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱȱŗŘřǱȱ ȱȱǻȱȱȱȱȱŘŖŗśȬŘŖŗŝȱ¢Ǽ
ȱ ȱ ȣȱ ȱȱŘřǱȱ¢ȱȱȱ¡ȱ
ȱ ȱ ǰȱȱȱȱěȱȱȱȱȱȱȱȱŗȱ¢ȱŘŖŘŖ
ȱ ȱ ȣȱ ȱȱȱřǱȱȱǱȱęȱȱȱ
ȱ ȱ ȣȱ ȱȱȱŗŖŗǱȱȱȱȱǱȱęȱȱȱ
ȣȱ ȱȱȱŗŖŞǱȱȱǰȱȱȱȱȱȱǱȱęȱȱ
ȱ ȱ ǰȱȱȱȱěȱȱȱȱȱȱȱȱŗȱ¢ȱŘŖŘŗ
ȱ ȱ ȣȱ ȱŗŝǱȱȱ
ȱ ȱ ěȱȱȱȱ¢ȱȱȱę
ȣȱ ȱȱȱŗŖǰȱȱȱȱȱȱŗŘŞǰȱȱȱȱȱȱ

ȱȮȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱ
ȱ ȱȱ¡ȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱ
ęȱȱȱȱȱȱȱȱ¡ȱȱȱ Ǳȱ
65
ANNUAL REPORT 2019

ȱ ŘǯŚȱ ȱȱȱȱȱ¢ȱȱěȱǻȂǯǼ
MFRS 16 Leases
ȱ ȱȱŘŖŗŜǰȱȱȱȱŗŜȱȱ ȱȱȱȱȱȱǰȱǰȱȱ
ȱȱȱǰȱȱȱȱ¡ȱȱŗŗŝǱȱǯȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱŗŘȱǰȱȱ
ȱ¢ȱȱȱȱ ȱǯȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱ
ȱȱȬȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ
¢ȱȱȱ¡ȱȱȱȱ¡ȱȱȱǰȱȱȱȱȱǯȱ
ȱ ȱȱȱ¢ȱȱȱȱ¡ȱȱŗŗŝǱȱȱ¡ȱȱȱŗŜȱȱȱ
ȱȱȱȱ¢ȱȱȱ ȱȱȱȱȱȂȱȱ¡ǰȱ¢ȱȱ
ȱȱǯȱ
ȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱęȱȱȱǯȱ
ȱŗŜȱȱěȱȱȱȱȱȱȱȱŗȱ¢ȱŘŖŗşǰȱ ȱ¢ȱȱĴǰȱȱȱ
ȱȱ¢ȱȱȱŗśǯȱ
ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ŗŜȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ěȱǯȱȱȱȱȱŗŜǰȱȱȱȱęȱȱ ȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱĜǰȱěȱȱȱ¡Ȃȱǯȱȱ
¢ȱȱȱȱȱȱ ȱȱȱęȱȱȱȱȱȱŗŜȱȱǰȱ
ȱ¢ȱ ȱȱȱȬȬȱȱȱȱȱ¢ȱȱȱȱȱǯȱ
ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ŗŜǰȱ ȱ ¢ȱ ȱ ȱ ȱ ęȱ ȱ ȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱŗŜȱȱȱ
ȱȱȱęȱȱȱȱȱŗȱȱŘŖŗşǯ
řǯȱ ȱ ȱ ȱȱ
ȱ ȱȱȱȱ¢Ȃȱęȱȱȱȱȱȱǰȱȱȱȱ
ȱěȱȱȱȱȱǰȱ¡ǰȱȱȱǰȱȱȱȱȱȱȱȱȱ
ȱǯȱ
ǰȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱ¢ȱȱȱȱȱȱ¢ȱěȱȱȱǯ
ȱ řǯŗȱ ȱȱȱ¢ȱȱ
ȱ ȱ ȱȱȱȱȱȱ¢ȱȱȱ¢ȱȱ¢Ȃȱȱǯȱ
3.2 Key sources of estimation uncertainty
ȱ ȱ¢ȱȱȱȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱȱȱ
ȱęȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱ ȱȱ¡ȱęȱ
¢ȱȱȱ ǯ
(a) Depreciation of property, plant and equipment
ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȭȱ ȱ ȱ ȱ Ȃȱ ȱ ǯȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱęȱ¢Ȭǯȱȱȱȱ
¡ȱȱȱȱǰȱ¡ȱ¢ȱ ȱȱǰȱȱȱȱȱȱ¢ȱȱȱ
ȱȱȱȱȱȱȱǯȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱǰȱȱȱȱȱȱȱǯ
ȱ ȱ ǻǼȱ ȱęȱ
ȱ ȱȱȱȱęȱęȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ǯȱȱȱȱȱȱȱȱȱ¢ȱěȱȱȱȱ
ȱǯȱȱȱȱǰȱȱ¢ȱǰȱ¢ȱȱȱȱȱǯȱȱ
ȱȱ¡¢ȱȱȱȱȱȱȬȱǰȱȱęȱęȱȱȱ¢ȱȱȱȱ
ȱȱǯȱȱȱȱ ȱȱȱȱȱǯȱȱȱȱȱȱ
ȱŗşǯ
66
ANNUAL REPORT 2019

4. REVENUE
2019 2018
RM RM
ȱ ȱȱȱ ȱ ȱ ȱ ȱ ŚŚŝǰŝřŖǰŝřşȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
Geographical markets
ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱŘŝśǰŚŚŜǰřřŚȱȱ ȱŘŜŗǰŜŞşǰŗşşȱ
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱŜŗǰŚŜŗǰŘŞŚȱȱ ȱśşǰŞŚŘǰşşśȱ
ȱ ȱȱȱ ȱ ȱ ȱ ȱŗŖśǰŗşŜǰŜşśȱȱ ȱŗŖşǰŘşŞǰśŖŞȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśǰŜŘŜǰŚŘŜȱȱ ȱśǰŚśśǰŜŗŞȱ
ȱȱȱȱ ȱȱ ȱ ȱ ȱ ȱŚŚŝǰŝřŖǰŝřşȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
Timing of revenue recognition

ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱ ŚŚŝǰŝřŖǰŝřşȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
Performance obligation
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱȱȱęȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱ ȱŗŚȱȱşŖȱǻŘŖŗŞǱȱŗŚȱȱ
şŖǼȱ¢ǯ
5. OTHER ITEMS OF INCOME
2019 2018
RM RM
ȱ ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱřśŜǰŞŜşȱȱ ȱśŖǰśŗŚȱ

ȱ ȱȱȱ ȱ ȱ ȱ ȱřǰřśŚǰŝŝŖȱȱ ȱřǰŘśśǰŞŖŚȱ
ȱ ȱȱȱȱ ȱ ȱ ȱ ŝǰŖřřǰřşŗȱȱ ȱŜǰŜŚŝǰŜŗŖȱ
ȱ ȱȱ ȱ ȱ ȱ ȱŚŜŞǰśŜŜȱȱ ȱŚŜŘǰŖŞŘȱ
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗśŖȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗśŖǰśŞŝȱ
ȱ ȱȱ¡ȱȱ ȱ ȱ ȱ ȱŜŚŞǰŗŜŝȱȱ ȱȬȱ
ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŗǰŞŜŗǰŝŜřȱȱ ȱŗŖǰśŜŜǰŝŚŝȱ
6. EMPLOYEE BENEFITS EXPENSE
2019 2018
RM RM
ȱ ȱȱȱ ȱ ȱ ȱ ȱŚŘǰŚśŘǰŖŞŚȱȱ ȱŚŖǰśŞşǰşŜŚȱ

ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱŜŚǰŞŖŖȱȱ ȱŜŚǰŞŖŖȱ
ȱ ęȱȱȱ ȱ ȱ ȱ ȱŚǰŚŘşǰŚŚŖȱȱ ȱŚǰŖşşǰŞŝŘȱ
ȱ ȱȱęȱęȱȱǻȱŗşǼȱ ȱ ȱ ȱ ȱŗǰŝŞŚǰŘŖŝȱȱ ȱŗǰśŜśǰŗŝřȱ
ȱ ȱęȱȱȱęȱȱȱǻȱŘŚǼȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗǰśŗŖǰřŚřȱ
ȱ ȱ¢ȱȱ ȱ ȱ ȱ ȱŚřŘǰŞŞŞȱȱ ȱřŜŝǰŚŝŖȱ
ȱ ȱȱȬȱȱȱȱ ȱ ȱ ȱŘŜǰŗŗŗȱȱ ȱśŝǰŚŗřȱ
ȱ ȱěȱȱ¡ȱ ȱ ȱ ȱ ȱŚǰŗřśǰŝŗŝȱȱ ȱřǰŝŖřǰŖřşȱ
ȱ ȱ¢ȱęȱ¡ȱǻȱŞǼȱ ȱ ȱ ȱ ȱśřǰřŘśǰŘŚŝȱȱ ȱśŗǰşśŞǰŖŝŚȱ
ȱ ȱȱ¢ȱęȱ¡ȱȱȱ¢ȱȱ¡ȱȂȱȱȱȱřǰŞŝřǰśŞřȱǻŘŖŗŞǱȱ
řǰřŞřǰŜŗśǼȱȱȱȱȱȱŝǯ
67
ANNUAL REPORT 2019

7. DIRECTORS’ REMUNERATION
ȱ ȱȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱ¢ȱȱȱ Ǳ
2019 2018
RM RM
ȱ ¡Ǳȱȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŘǰŞřŜǰŖŜŚȱȱ ȱŘǰŜŗŚǰŞŖŚȱ
ȱ ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱŗŜŘǰŖŖŖȱȱ ȱŗŜŘǰŖŖŖȱ
ȱ ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱśŞŚǰŝŗŚȱȱ ȱŚřŞǰŗśřȱ
ȱ ȱȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱŜŚǰŞŖŖȱȱ ȱŜŚǰŞŖŖȱ
ȱ ȱȱęȱȱȱ ȱ ȱ ȱ ȱŘŘŜǰŖŖśȱȱ ȱŗŖřǰŞśŞȱ
ȱ ȱ¡ȱȂȱȱǻ¡ȱęȬȬǼȱǻȱŜǼȱ ȱ ȱ ȱřǰŞŝřǰśŞřȱȱ ȱřǰřŞřǰŜŗśȱ

ȱ ȱ¢ȱȱȱęȬȬȱ ȱ ȱ ȱ ȱřŞŘǰŘśŚȱȱ ȱřŞřǰŗŗŚȱ
ȱ ȱ¡ȱȂȱȱǻȱęȬȬǼȱ ȱ ȱ ȱŚǰŘśśǰŞřŝȱȱ ȱřǰŝŜŜǰŝŘşȱ
ȱ Ȭ¡Ǳȱȱ ȱ ȱ ȱ ȱ
ȱ ȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱŘŚŖǰŖŖŖȱȱ ȱŘŚŖǰŖŖŖȱ
ȱ ȱȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱşŜǰŖŖŖȱȱ ȱşŜǰŖŖŖȱ
ȱ ȱȱȱȱ ȱ ȱ ȱ ŗŗşǰŖŖŖȱȱ ȱŗŘŖǰśŖŖȱ
ȱ ȱȬ¡ȱȂȱȱǻ¡ȱęȬȬǼȱǻȱŞǼȱ ȱ ȱŚśśǰŖŖŖȱȱ ȱŚśŜǰśŖŖȱ

ȱ ȱ¢ȱȱȱęȬȬȱ ȱ ȱ ȱ ȱŞŗǰŞřŘȱȱ ȱşŜǰŞŗşȱ
ȱ ȱȬ¡ȱȂȱȱǻȱęȬȬǼȱ ȱ ȱ ȱśřŜǰŞřŘȱȱ ȱśśřǰřŗşȱ
ȱ ȱȂȱȱ ȱ ȱ ȱ ȱŚǰŝşŘǰŜŜşȱȱ ȱŚǰřŘŖǰŖŚŞȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ
ȱȱȱ¢ȱȱ ȱȱ ȱǰȱȱ¢ȱ Ǳ
Number of directors
2019 2018
ȱ ¡ȱǱȱ ȱ ȱ ȱ ȱ
ȱ ŗśŖǰŖŖŗȱȬȱŘŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ ŘŖŖǰŖŖŗȱȬȱŘśŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱřȱ
ȱ řśŖǰŖŖŗȱȬȱŚŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ ŚŖŖǰŖŖŗȱȬȱŚśŖǰŖŖŖȱ ȱ ȱ ȱ ȱȬȱȱ ȱŘȱ
ȱ ŚśŖǰŖŖŗȱȬȱśŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱŗȱ
ȱ śŖŖǰŖŖŗȱȬȱśśŖǰŖŖŖȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗȱ
ȱ śśŖǰŖŖŗȱȬȱŜŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗȱ
ȱ ŜŖŖǰŖŖŗȱȬȱŜśŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ ŜśŖǰŖŖŗȱȬȱŝŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱŗȱ
ȱ ŞŖŖǰŖŖŗȱȬȱŞśŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ ŞśŖǰŖŖŗȱȬȱşŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ Ȭ¡ȱǱȱ ȱ ȱ ȱ ȱ
ȱ śŖǰŖŖŗȱȬȱŗŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱŚȱȱ ȱŚȱ
ȱ ŘŖŖǰŖŖŗȱȬȱŘśŖǰŖŖŖȱ ȱ ȱ ȱ ȱŗȱȱ ȱȬȱ
ȱ ŘśŖǰŖŖŗȱȬȱřŖŖǰŖŖŖȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗȱ
68
ANNUAL REPORT 2019

8. PROFIT BEFORE TAX
ȱ ȱ ȱȱȱȱȱȱȱȱęȱȱ¡Ǳ
2019 2018
RM RM
ȱ ¢ȱęȱ¡ȱǻȱŜǼȱ ȱ ȱ ȱ ȱśřǰřŘśǰŘŚŝȱȱ ȱśŗǰşśŞǰŖŝŚȱ

ȱ Ȭ¡ȱȂȱȱ¡ȱęȬȬȱǻȱŝǼȱ ȱ ȱ ȱŚśśǰŖŖŖȱȱ ȱŚśŜǰśŖŖȱ
ȱ ȂȱǱȱ ȱ ȱ ȱ ȱ
ȱ ȱȱȬȱ¢ȱ ȱ ȱ ȱ ȱ ȱŗŘŞǰŖŖŖȱȱ ȱŞŞǰŘŖŖȱ
ȱ ȱȱȬȱȱȱ ȱ ȱ ȱ ȱşŖǰŜśŖȱȱ ȱŘşǰşŖŖȱ
ȱ ȱȱ¢ǰȱȱȱȱǻȱŗŘǼȱ ȱ ȱ ȱ ȱŗŜǰŗŗŚǰŝŖŖȱȱ ȱŗřǰŖŞşǰŚŘŚȱ
ȱ ȱ Ĵȱěȱ ȱ ȱ ȱ ȱşŞŘǰşřśȱȱ ȱřŝŞǰŜśśȱ
ȱ ȦǻǼȱȱ¡ȱȱȱȱȱǰȱȱǻȱŗřǼȱ ȱ ȱ ȱŗřǰŖŚśȱȱ ȱǻŚǰŗŝŖǼ
ȱ ȱȱ Ĵȱěȱ ȱ ȱ ȱ ȱŗŗǰřŚŘȱȱ ȱȬȱ
ȱ ȱ¡ȱȦǻǼǱȱȱ ȱ ȱ ȱ ȱ
ȱ ȱȱȬȱȱ ȱ ȱ ȱ ȱ ŚśşǰŚŚŗȱȱ ȱŗǰŘśŚǰŝŖŝȱ
ȱ ȱȱȬȱȱ ȱ ȱ ȱ ȱ ȱǻŜŚŞǰŗŜŝǼȱ ȱŗǰśŞŖǰŚŜŚȱ
ȱ ȱȱȱȦǻǼȱȱȱ ȱ ȱ ȱ ȱŗŜŗǰŖśŗȱȱ ȱǻŗśŖǰśŞŝǼ
ȱ ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱǻřśŜǰŞŜşǼȱ ȱǻśŖǰśŗŚǼ
ȱ ¢ǰȱȱȱȱ Ĵȱěȱ ȱ ȱ ȱ ȱşŝǰŞřşȱȱ ȱŗŜŗǰşŘŘȱ
9. INCOME TAX EXPENSE
Major components of income tax expense
ȱ ȱȱȱȱȱ¡ȱ¡ȱȱȱ¢ȱȱřŗȱȱŘŖŗşȱȱŘŖŗŞȱǱ
2019 2018
RM RM
ȱ ȱȱ¡ȱ ȱ ȱ ȱ ȱŗŝǰŝśśǰŝŞşȱȱ ȱŗśǰřŗŝǰśşŝȱ

ȱ ȱȱȱ¢ȱ ȱ ȱ ȱ ȱǻŚřřǰŜŗŝǼȱ ȱǻŘǰŚŜśǰŘŘŘǼ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŝǰřŘŘǰŗŝŘȱȱ ȱŗŘǰŞśŘǰřŝśȱ
ȱ ȱ¡ȱǻȱŘŗǼǱȱ ȱ ȱ ȱ ȱ
ȱ ȱȱȱȱȱȱȱȱ¢ȱěȱ ȱ ȱ ȱǻŗǰśŖřǰŖŞŘǼȱ ȱǻşŝŗǰşśřǼ
ȱ ȦǻǼȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱŘśşǰŚŗŞȱȱ ȱǻŗǰŖŝŚǰřśřǼ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱǻŗǰŘŚřǰŜŜŚǼȱ ȱǻŘǰŖŚŜǰřŖŜǼ
ȱ ȱȱ¡ȱ¡ȱ ȱ ȱ ȱ ȱŗŜǰŖŝŞǰśŖŞȱȱ ȱŗŖǰŞŖŜǰŖŜşȱ
ȱ ȱȱȱ¡ȱȱȱȱȱ¢ȱ¡ȱȱȱŘŚƖȱȱȱȱ¡ȱęȱȱȱ¢ǯȱ
69
ANNUAL REPORT 2019

9. INCOME TAX EXPENSE (CONT’D.)
ȱ ȱ¡ȱ¡ȱȱȱę
ȱ ȱȱȱȱ¡ȱ¡ȱȱȱęȱȱ¡ȱȱȱ¢ȱȱ¡ȱȱȱȱ¡ȱ¡ȱȱ
ȱěȱȱ¡ȱȱȱȱ¢ȱȱȱ Ǳ
2019 2018
RM RM
ȱ ęȱȱ¡ȱ ȱ ȱ ȱ ȱŝŘǰŜśşǰŗŗŗȱȱ ȱŜŝǰŖŜŞǰŗŜŚȱ
ȱ ¡ȱȱ¢ȱ¢ȱ¡ȱȱȱŘŚƖȱ ȱ ȱ ȱ ŗŝǰŚřŞǰŗŞŝȱȱ ȱŗŜǰŖşŜǰřśşȱ

ȱ ȱȱȱȱ¡ȱ ȱ ȱ ȱ ȱǻŗǰŝŘŘǰŞśşǼȱ ȱǻŗǰśşśǰŚŘŜǼ
ȱ ¡ȱȱȱȱ¡ȱȱ ȱ ȱ ȱ ȱśřŝǰřŝşȱȱ ȱŜşřǰŞŖŗȱ
ȱ ȱȱȱ¢Ȃȱȱ ȱ ȱ ȱ ȱ ȱȬȱȱ ȱǻŞŚşǰŖşŖǼ
ȱ ȦǻǼȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱŘśşǰŚŗŞȱȱ ȱǻŗǰŖŝŚǰřśřǼ
ȱ ȱȱȱ¡ȱ¡ȱȱȱ¢ȱ ȱ ȱ ȱ ȱǻŚřřǰŜŗŝǼȱ ȱǻŘǰŚŜśǰŘŘŘǼ
ȱ ȱ¡ȱ¡ȱ ȱ ȱ ȱ ȱŗŜǰŖŝŞǰśŖŞȱȱ ȱŗŖǰŞŖŜǰŖŜşȱ
10. EARNINGS PER SHARE
ȱ ȱȱȱȱȱȱ¢ȱȱęȱȱȱ¢ȱĴȱȱ¢ȱ¢ȱȱȱȱ¢ȱ¢ȱ
ȱ ȱȱȱȱ¢ȱȱȱȱȱȱęȱ¢ȱȱ¢ȱȱ¢ǯ
2019 2018
sen sen
ȱ ȱȱȱȱȱ ȱ ȱ ȱ şřǯŖŜȱȱ şŘǯśŚȱ
ȱ ȱȱȱȱȱȱȱ¢ȱȱȱȱ¢ȱȱ ȱȱȱȱȱ
ȱȱȱȱȱȱęȱǯȱ
ȱ ȱȱȱȱȱȱ ȱȱȱȱěȱȱȱȱȱȱȱȱ¢ǯȱǰȱȱ
ȱȱȱȱȱǯ
70
ANNUAL REPORT 2019

11. DIVIDENDS
Net dividend
Amount per share
2019 2018 2019 2018
RM RM Sen Sen
Recognised during the year:
ȱ ȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗŞȱ ȱ ȱ ȱ
ȱ ȱȱęȱȬȱȱȱŚŜǯśŖȱȱȱ¢ȱȱȱ ȱŘŞǰŘŝŗǰřŗŞȱȱ ȱȬȱȱ ȱŚŜǯśŖȱȱ ȱȬȱ
ȱ ȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗŝȱ ȱ ȱ ȱ
ȱ ȱȱęȱȬȱȱȱŚŘǯŖŖȱȱȱ¢ȱȱȱ ȱȬȱȱ ȱŘśǰśřśǰřŞŚȱȱ ȱȬȱȱ ŚŘǯŖŖȱ
ȱ ȱȱěȱȬȱȱȱŗŗřǯŖŖȱȱȱ¢ȱȱȱ ȱȬȱȱ ȱŜŞǰŝŖŘǰřŚřȱȱ ȱȬȱȱ ŗŗřǯŖŖȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱȬȱȱ ȱşŚǰŘřŝǰŝŘŝȱȱ ȱȬȱȱ ȱŗśśǯŖŖȱ
ȱ ȱȱȱȱ ȱǰȱȱęȱȱęȱȬȱȱȱŚŝǯŖŖȱȱȱ¢ȱȱȱȱȱ
ȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱȱȱȱ¢ȱȱŘŞǰśŝśǰřŗŗȱ ȱȱȱȱȂȱ
ǯȱ ȱ ęȱ ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ȱ Ěȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ
ȱ¢ȱȱǰȱ ȱȱȱȱȱȂȱ¢ȱȱȱȱȱȱȱȱȱ
ęȱ¢ȱȱřŗȱȱŘŖŘŖǯ
71
ANNUAL REPORT 2019

12. PROPERTY, PLANT AND EQUIPMENT
Plant, Furniture,
ȱ ȱ ȱ ȱ ȱ ȱȱȱȱ ȱ ȱ ȱ¢ȱȱ ȱę¡ȱȱ ȱȱȱ
ȱ ȱ ȱ ȱ ȱȱȱ ȱȱȱ ȱ ȱȱȱ ȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱ
ȱ ȱ ȱ ȱ ȱȱȱ ȱȱȱ ȱȱȱ ȱȱȱ ȱȱȱ ȱȱęĴȱȱ ȱȱȱ ȱȱ
RM RM RM RM RM RM RM RM
At 31 March 2019
Cost
ȱŗȱȱŘŖŗŞȱ ȱ ȱŝŗǰśŘśȱȱ ȱŘŘǰřŜŝǰřşŝȱȱ ȱŜŗǰŘŚŘǰŚŜşȱȱ ȱşǰŚśřǰŞŝŞȱȱ ȱŗśŜǰŚŝŝǰŚŗŖȱȱ ȱŞǰŗŗŝǰŝŞşȱȱ ȱřřŚǰŖŗŝȱȱ ȱŘśŞǰŖŜŚǰŚŞśȱ
ȱȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱśŖŜǰşŞŚȱȱ ȱŗǰŖŜŚǰŝşśȱȱ ȱśǰŖŝŗǰŖřŝȱȱ ȱŗŘşǰŜŚŗȱȱ ȱŞşŗǰŚŜŚȱȱ ȱŝǰŜŜřǰşŘŗȱ
ȱ ȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ȱŘŘŘǰŚŗŝȱȱ ȱȬȱȱ ȱǻŘŘŘǰŚŗŝǼȱ ȱȬȱ
ȱȱȱ ȱ ȱȬȱȱ ȱǻřŜǰřŖŚǼȱ ȱȬȱȱ ȱǻŝŘŘǰŗŜśǼȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ǻŝśŞǰŚŜşǼ
Ĵȱěȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱǻŗŗŗǰŞŖŖǼȱ ȱȬȱȱ ȱǻŚŖŞǰŜŘŜǼȱ ȱǻŗŖŝǰŖŖŝǼȱ ȱȬȱȱ ǻŜŘŝǰŚřřǼ
ȱřŗȱȱŘŖŗşȱ ȱŝŗǰśŘśȱȱ ȱŘŘǰřřŗǰŖşřȱȱ ȱŜŗǰŜřŝǰŜśřȱȱ ȱşǰŝşŜǰśŖŞȱȱ ȱŗŜŗǰřŜŘǰŘřŞȱȱ ȱŞǰŗŚŖǰŚŘřȱȱ ȱŗǰŖŖřǰŖŜŚȱȱ ȱŘŜŚǰřŚŘǰśŖŚȱ
Accumulated
depreciation
ȱŗȱȱŘŖŗŞȱ ȱ ȱȬȱȱ ȱřǰŘŘŘǰŗřśȱȱ ȱŚşǰŜŗŘǰŖŞşȱȱ ȱřǰşŚŘǰŝŚŘȱȱ ȱŗŗŗǰŝŞŝǰŝŚŚȱȱ ȱśǰŗŘŚǰŝŘŚȱȱ ȱȬȱȱ ȱŗŝřǰŜŞşǰŚřŚȱ
ȱȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱ¢ȱǻȱŞǼȱ ȱȬȱȱ ȱřşŜǰŘşŚȱȱ ȱřǰŜŝŖǰŗŝŜȱȱ ȱŗǰŗŖşǰşŚşȱȱ ȱŗŖǰŖşŞǰŞŗśȱȱ ȱŞřşǰŚŜŜȱȱ ȱȬȱȱ ȱŗŜǰŗŗŚǰŝŖŖȱ
ȱȱȱ ȱ ȱȬȱȱ ȱǻŗŘǰŚŘşǼȱ ȱȬȱȱ ȱǻśŚŞǰşřŝǼȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ǻśŜŗǰřŜŜǼ
Ĵȱěȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱǻśŞǰŜŚŖǼȱ ȱȬȱȱ ȱǻřŜŝǰşřśǼȱ ȱǻŗŖřǰŖŗşǼȱ ȱȬȱȱ ǻśŘşǰśşŚǼ
ȱřŗȱȱŘŖŗşȱ ȱȬȱȱ ȱřǰŜŖŜǰŖŖŖȱȱ ȱśřǰŘŘřǰŜŘśȱȱ ȱŚǰśŖřǰŝśŚȱȱ ȱŗŘŗǰśŗŞǰŜŘŚȱȱ ȱśǰŞŜŗǰŗŝŗȱȱ ȱȬȱȱ ȱŗŞŞǰŝŗřǰŗŝŚȱ
Net carrying amountȱ ȱŝŗǰśŘśȱȱ ȱŗŞǰŝŘśǰŖşřȱȱ ȱŞǰŚŗŚǰŖŘŞȱȱ ȱśǰŘşŘǰŝśŚȱȱ ȱřşǰŞŚřǰŜŗŚȱȱ ȱŘǰŘŝşǰŘśŘȱȱ ȱŗǰŖŖřǰŖŜŚȱȱ ȱŝśǰŜŘşǰřřŖȱ
At 31 March 2018
Cost
ȱŗȱȱŘŖŗŝȱ ȱ ȱŝŗǰśŘśȱȱ ȱŘŘǰřŜŝǰřşŝȱȱ ȱśŜǰŝşśǰŚşřȱȱ ȱşǰŘřŗǰśŗşȱȱ ȱŗśŗǰřŞśǰŗŗŞȱȱ ȱŝǰŞŜŞǰśŜŖȱȱ ȱşǰŜşŝǰřŘřȱȱ ȱŘśŝǰŚŗŜǰşřśȱ
ȱȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱŗǰŜśŖǰŖŗŗȱȱ ȱŞśřǰŚŚŖȱȱ ȱśǰŖŖŝǰŞşřȱȱ ȱŚşřǰşřŞȱȱ ȱřřŚǰŖŗŝȱȱ ȱŞǰřřşǰŘşşȱ
ȱ ȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱŘǰşŚŘǰřşśȱȱ ȱŘşşǰŖŜŞȱȱ ȱŜǰŚŘŚǰşŘśȱȱ ȱřŖǰşřśȱȱ ȱǻşǰŜşŝǰřŘřǼȱ ȱȬȱ
ȱȱȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ȱǻşřŖǰŗŚşǼȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ǻşřŖǰŗŚşǼ
Ĵȱěȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱǻŗŚśǰŚřŖǼȱ ȱȬȱȱ ȱǻŜǰřŚŖǰśŘŜǼȱ ȱǻŘŝśǰŜŚŚǼȱ ȱȬȱȱ ǻŜǰŝŜŗǰŜŖŖǼ
ȱřŗȱȱŘŖŗŞȱ ȱŝŗǰśŘśȱȱ ȱŘŘǰřŜŝǰřşŝȱȱ ȱŜŗǰŘŚŘǰŚŜşȱȱ ȱşǰŚśřǰŞŝŞȱȱ ȱŗśŜǰŚŝŝǰŚŗŖȱȱ ȱŞǰŗŗŝǰŝŞşȱȱ ȱřřŚǰŖŗŝȱȱ ȱŘśŞǰŖŜŚǰŚŞśȱ
Accumulated
depreciation
ȱŗȱȱŘŖŗŝȱ ȱ ȱȬȱȱ ȱŘǰŞŘśǰŜŘřȱȱ ȱŚŜǰŘŖŜǰřřşȱȱ ȱřǰřŖşǰśŖŞȱȱ ȱŗŗŖǰŞśŞǰŝŘřȱȱ ȱŚǰŜŝŖǰŝśŞȱȱ ȱȬȱȱ ȱŗŜŝǰŞŝŖǰşśŗȱ
ȱȱȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱ¢ȱǻȱŞǼȱ ȱȬȱȱ ȱřşŜǰśŗŘȱȱ ȱřǰśŚŝǰřŞŚȱȱ ȱŗǰřŖŚǰŚşŝȱȱ ȱŝǰŗřŖǰŖŜŘȱȱ ȱŝŗŖǰşŜşȱȱ ȱȬȱȱ ȱŗřǰŖŞşǰŚŘŚȱ
ȱȱȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ȱǻŜŝŗǰŘŜřǼȱ ȱȬȱȱ ȱȬȱȱ ȱȬȱȱ ǻŜŝŗǰŘŜřǼ
Ĵȱěȱ ȱ ȱȬȱȱ ȱȬȱȱ ȱǻŗŚŗǰŜřŚǼȱ ȱȬȱȱ ȱǻŜǰŘŖŗǰŖŚŗǼȱ ȱǻŘśŝǰŖŖřǼȱ ȱȬȱȱ ǻŜǰśşşǰŜŝŞǼ
ȱřŗȱȱŘŖŗŞȱ ȱȬȱȱ ȱřǰŘŘŘǰŗřśȱȱ ȱŚşǰŜŗŘǰŖŞşȱȱ ȱřǰşŚŘǰŝŚŘȱȱ ȱŗŗŗǰŝŞŝǰŝŚŚȱȱ ȱśǰŗŘŚǰŝŘŚȱȱ ȱȬȱȱ ȱŗŝřǰŜŞşǰŚřŚȱ
Net carrying amountȱ ȱŝŗǰśŘśȱȱ ȱŗşǰŗŚśǰŘŜŘȱȱ ȱŗŗǰŜřŖǰřŞŖȱȱ ȱśǰśŗŗǰŗřŜȱȱ ȱŚŚǰŜŞşǰŜŜŜȱȱ ȱŘǰşşřǰŖŜśȱȱ ȱřřŚǰŖŗŝȱȱ ȱŞŚǰřŝśǰŖśŗȱ
72
ANNUAL REPORT 2019

13. TRADE AND OTHER RECEIVABLES
2019 2018
RM RM
Current
Trade receivables
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱřŗǰŚŞŜǰŘŘŖȱȱ ȱŘşǰŞŖşǰśŞŖȱ
ȱ ȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱŗŗřǰśŜşȱȱ ȱŗǰśŘřȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŗŝǰŚŘŘǰşŗŜȱȱ ȱŗŚǰŚŜŚǰŜŚŘȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚşǰŖŘŘǰŝŖśȱȱ ȱŚŚǰŘŝśǰŝŚśȱ
ȱ Ǳȱ ȱȱ¡ȱȱȱ ȱ ȱ ȱ ȱǻŚŖǰŞŘşǼȱ ȱǻŘŝǰŝŞŚǼ
ȱ ȱǰȱȱ ȱ ȱ ȱ ȱŚŞǰşŞŗǰŞŝŜȱȱ ȱŚŚǰŘŚŝǰşŜŗȱ
Other receivables
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚşǰŗŞşǰŞŞşȱȱ ȱŞǰśşŗǰşśŗȱ
ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱŜǰŗřŝǰřřřȱȱ ȱřǰŜşşǰŜŖŘȱ
ȱ ěȱȱȱ ȱ ȱ ȱ ȱ ȱŝŘŗǰŘŞŜȱȱ ȱŜŚŞǰśŞřȱ
ȱ ȱǰȱȱ ȱ ȱ ȱ ȱŚşşǰşŖŘȱȱ ȱŚŜŞǰřřŚȱ
ȱ ¢ȱȱ ȱ ȱ ȱ ȱřŞŗǰŘŗřȱȱ ȱŚřŗǰŞŜŘȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśŜǰşŘşǰŜŘřȱȱ ȱŗřǰŞŚŖǰřřŘȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŖśǰşŗŗǰŚşşȱȱ ȱśŞǰŖŞŞǰŘşřȱ
Non-current
Other receivables
ȱ ěȱȱȱ ȱ ȱ ȱ ȱ ȱŗǰřŞŚǰŗŗŜȱ ȱŗǰřřŖǰŞśŘȱ
ȱ ȱȱ¢ȱȱęȱȱęȱȱęȱȱȱȱȱǻŘŖŗŞǱȱȱȱǼȱȱȱ
¢ȱȱȱȱȱęȱǱȱ ȱ
2019 2018
RM RM
ȱ ȱȱȱȱȱǻȱȱȬǼȱ ȱ ȱ ȱ ȱŗŖŝǰŘşśǰŜŗśȱȱ ȱśşǰŚŗşǰŗŚśȱ

ȱ ǱȱȱȱȱǻȱŗŝǼȱ ȱ ȱ ȱ ȱŗşŞǰŝŞŖǰŗŘŘȱȱ ȱŗŜşǰşŜŖǰŝŗŘȱ
ȱ ȱ ȱȱȱȱȱȱǻȱŗŞǼȱ ȱ ȱ ȱ ȱŗŖŜǰřşŞǰşŞŞȱȱ ȱŗŘŜǰŝŚŝǰřŞŝȱ
ȱ Ǳȱ¢ȱ ȱ ȱ ȱ ȱǻŜǰŗřŝǰřřřǼȱ ȱǻřǰŜşşǰŜŖŘǼ
ȱ ȱ ȱȱ ȱǰȱȱ ȱ ȱ ȱ ȱǻŚşşǰşŖŘǼȱ ȱǻŚŜŞǰřřŚǼ
ȱ ȱęȱȱ ȱ ȱ ȱ ȱŚŖśǰŞřŝǰŚşŖȱȱ ȱřśŗǰşśşǰřŖŞȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱřŘǯȱȱ ȱ ȱ ȱ
73
ANNUAL REPORT 2019

13. TRADE AND OTHER RECEIVABLES (CONT’D.)
(a) Trade receivables
ȱ ȱ ȱ Ȭȱ ȱ ȱ ȱ ¢ȱ ȱ ŗŚȱ ȱ şŖȱ ¢ȱ ǻŘŖŗŞǱȱ ŗŚȱ ȱ şŖȱ ¢Ǽȱ ǯȱ ¢ȱ ȱ
ȱȱȱȱȱȱ ȱȱȱȱȱȱȱǯ
ȱ¢ȱȱȱ
ȱ ȱ ȱȱ¢ȱȱȱ¢Ȃȱȱȱȱȱ Ǳȱȱ ȱ ȱ ȱ ȱ
2019 2018
RM RM
ȱ ȱ ȱȱȱȱȱ ȱ ȱ ȱ ȱřŜǰŜşŖǰŘŘŘȱȱ ȱřřǰŖşŞǰşşŞȱ
ȱ ȱ ŗȱȱřŖȱ¢ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŗŖǰśşŜǰŘŖřȱȱ ȱşǰŘŗŚǰŝşŝȱ

ȱ ȱ řŗȱȱŜŖȱ¢ȱȱȱȱȱ ȱ ȱ ȱ ȱŗǰřŜřǰŘŗŘȱȱ ȱŗǰŚŚşǰŚŖŘȱ
ȱ ȱ ŜŗȱȱşŖȱ¢ȱȱȱȱȱ ȱ ȱ ȱ ȱŗŖŘǰŜŝřȱȱ ȱŘŞşǰŗŚŘȱ
ȱ ȱ şŗȱȱŗŘŖȱ¢ȱȱȱȱȱ ȱ ȱ ȱ ȱŗŖŘǰŞŖśȱȱ ȱŝŖǰśşŜȱ
ȱ ȱ ȱȱŗŘŖȱ¢ȱȱȱȱȱ ȱ ȱ ȱ ȱŗŘŜǰŝŜŗȱȱ ȱŗŘśǰŖŘŜȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŘǰŘşŗǰŜśŚȱȱ ȱŗŗǰŗŚŞǰşŜřȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚŖǰŞŘşȱȱ ȱŘŝǰŝŞŚȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚşǰŖŘŘǰŝŖśȱȱ ȱŚŚǰŘŝśǰŝŚśȱ
ȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ ¢ȱȱ ȱȱ¢ȱȱ
ȱȱ¢ǯȱ
ȱȱȱȱȱȱȱ
ȱ¢ȱȱȱȱȱȱŗŘǰŘşŗǰŜśŚȱǻŘŖŗŞǱȱŗŗǰŗŚŞǰşŜřǼȱȱȱȱȱȱȱȱ
ȱȱȱǯȱ
ȱȱȱǰȱȱȱȱȱ¡ȱȱȱȱŗśśǰřşśȱǻŘŖŗŞǱȱŜŝśǰŜŞŗǼȱȱȱ
ȱȱȱĴȱȱĴȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱȱǯȱȱ
ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ŚŖŝǰŝŘřȱ ǻŘŖŗŞǱȱ ŚŝŗǰśŘŖǼȱ ȱ ȱ ȱ ǯȱ ȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱ¢ȱ
ȱȱ ȱ¢ȱȱǰȱȱ¢ȱǯ
74
ANNUAL REPORT 2019

13. TRADE AND OTHER RECEIVABLES (CONT’D.)
(a) Trade receivables (cont’d.)

ȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¡ȱȱȱǯȱȱȱ
ȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ ȱȱȱĴȱǻǯǯǰȱȱ
ǰȱȱȱ¢ǰȱȱȱ¢ȱĴȱȱȱȱȱȱȱȱǼǯȱȱȱĚȱȱ
¢Ȭ ȱǰȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱǰȱȱȱȱȱȱȱȱǯ
ȱȱ¡ȱȱ¢ȱȱȱȱ¢Ȃȱȱȱȱǯȱȱ¢ȱȱǰȱȱ
ȱȱȱȱȱȱȱȱȱȱ Ȭȱȱȱ¢ǯ
ȱȱ ȱǱ
2019 2018
RM RM
ȱ ȱ ȱŗȱȱŘŖŗŞȦŘŖŗŝȱ ȱ ȱ ȱ ȱŘŝǰŝŞŚȱȱ ȱřŗǰşśŚȱ

ȱ ȱ ȱȱȱ¢Ǳȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱȱ¡ȱȱȱ ȱ ȱ ȱ ȱřŚǰřŘŚȱȱ ȱŘŖǰŘŞŞȱ
ȱ ȱ ȱȱȱȱ¡ȱȱȱ ȱ ȱ ȱ ȱǻŘŗǰŘŝşǼȱ ȱǻŘŚǰŚśŞǼ
ȱ ȱ ȦǻǼȱȱ¡ȱȱǰȱȱǻȱŞǼȱȱ ȱ ȱ ȱŗřǰŖŚśȱȱ ȱǻŚǰŗŝŖǼ
ȱ ȱ ȱřŗȱȱ ȱ ȱ ȱ ȱŚŖǰŞŘşȱȱ ȱŘŝǰŝŞŚȱ
ȱ ǻǼȱ ěȱȱ
ěȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ŖƖȱ ȱ ŘǯśƖȱ ǻŘŖŗŞǱȱ ŖƖȱ ȱ ŘǯśƖǼȱ ȱ ǯȱ Ȭȱ ȱ ȱ ȱ
ȱ¢ȱȱŘǯŚŚȱ¢ȱǻŘŖŗŞǱȱŘǯŗşȱ¢Ǽǯȱȱȱȱȱ¢ȱȱȱǯȱȱěȱ ȱ
ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱ¡ǯ
14. OTHER INVESTMENTS
2019 2018
RM RM
ȱ ȱȱȱ ȱ ȱ ȱ ȱŘřŜǰŖŖŖȱȱ ȱŘřŜǰŖŖŖȱ

ȱ Ǳȱȱȱȱȱ ȱ ȱ ȱ ȱǻŗŖǰŖŖŖǼȱ ȱǻŗŖǰŖŖŖǼ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŘŘŜǰŖŖŖȱȱ ȱŘŘŜǰŖŖŖȱ
75
ANNUAL REPORT 2019

15. INVENTORIES
2019 2018
RM RM
At cost:
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱŗşǰŜşŚǰŘŞřȱȱ ȱŘŖǰŜŖŞǰŝśŗȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱŘǰŖŖŖǰŖŗşȱȱ ȱŘǰŗşŞǰŝŘŚȱ
ȱ ȬȬȱ ȱ ȱ ȱ ȱřŝŞǰŘŗŘȱȱ ȱřśŞǰşŜŘȱ
ȱ ȱȱȱ ȱ ȱ ȱ ȱŘŘǰśśşǰśŜŝȱȱ ȱŘŘǰśŝŜǰŞŗŚȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŚŚǰŜřŘǰŖŞŗȱȱ ȱŚśǰŝŚřǰŘśŗȱ
ȱ ȱȱȱȱȱȱȱ¡ȱȱȱęȱ¢ȱȱȱŘşśǰŖŞŝǰŜŗśȱǻŘŖŗŞǱȱŘşŘǰŘŖŞǰŗŗśǼǯ
16. DERIVATIVES
ȱȱ ȱ ȱȱȱȱȱȱęȱǰȱȱȱȱȱǰȱȱ ȱȱ
ȱǯȱȱȱǰȱȱȱǰȱȱȱȱȱȱȂȱ¢ȱǰȱȱȱ
ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
foreign
exchange Notional
contracts Amount
RM RM
As at 31 March 2019:
ȱ ȱȱ ȱ ȱ ȱ ȱǻŜŝǰřŖŖǼȱ ȱřŚǰŜŞŗǰŖśŗ
ȱ ȱȱ ȱ ȱ ȱ ȱŗŘŖǰŘŚřȱȱ ȱŘŗǰŚşŚǰŚřŞȱ
ȱ ȱȱ ȱ ȱ ȱ ȱǻŘŜǰŚşŘǼȱ ȱşǰŞŚŞǰŝŜŚȱ
ȱ¢ȱȱ ȱ¢ȱȱȱȱȱȱȱȱ¡ǯȱȱȱȱȱȱ
ȱȱĚ ȱȱȱȱȱȱȱȱȱȱȱȱ ȱ¢ȱȱ¡ȱȱȱȱ
ȱ¡ǯ
ȱ ȱ ęȱ ¢ǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ŗŜŗǰŖśŗȱ ǻŘŖŗŞǱȱ ȱ ȱ ŗśŖǰśŞŝǼȱ ȱ ȱ ȱ ȱ
ȱȱȱǯȱȱȱȱȱȱĴȱȱȱȱȱ¡ȱȱȱ ȱǯȱ
17. INVESTMENT SECURITIES
2019 2018
RM RM
ȱ ȱȱ ȱȱęȱȱ ȱ ȱ ȱ ȱŗşŞǰŝŞŖǰŗŘŘȱȱ ȱŗŜşǰşŜŖǰŝŗŘȱ
76
ANNUAL REPORT 2019

18. CASH AND BANK BALANCES
2019 2018
RM RM
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŘřǰŘŗşǰśŞŖȱȱ ȱřŞǰřśşǰşŞŞȱ

ȱ ȱ ȱȱȱ ȱ ȱ ȱ ȱŞřǰŗŝşǰŚŖŞȱȱ ȱŞŞǰřŞŝǰřşşȱ
ȱ ȱȱȱȱȱ ȱ ȱ ȱ ȱŗŖŜǰřşŞǰşŞŞȱȱ ȱŗŘŜǰŝŚŝǰřŞŝȱ
ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ¢ȱȱŘǯşƖȱȱřǯŝşƖȱǻŘŖŗŞǱȱŘǯśśƖȱȱřǯŝşƖǼȱ
ȱǯ
ȱȱȱȱȱ ȱȱȱȱȱȱȱȱ¢ȱȱřȱ¢ȱȱşŖȱ¢ȱǻŘŖŗŞǱȱřȱ¢ȱȱşŖȱ¢Ǽǯ
19. EMPLOYEE BENEFITS
ȱ ȱęȱ
ȱ¢ȱȱȱ¢ȱǰȱȬ¢ȱęȱȱǻȃȱȄǼȱȱȱȱ¢ǯȱȱȱ
ǰȱȱ¢ȱȱȱȱȬ¢ȱęȱ¢ȱȱŜƖȱȱŗŖƖȱǻŘŖŗŞǱȱŜƖȱȱŗŖƖǼȱȱȱ
ȱȱȱȱěȱȱȱȱȱȱ¢ȱȱǯȱ
ȱȱȱȱȱȱȱęȱȱȱȱȱ Ǳȱ
2019 2018
RM RM
ȱ ȱȱȱęȱęȱǰȱȱȱ¢ȱ ȱ ȱ ȱŗŘǰřśŞǰŚŜřȱȱ ȱŗŗǰśŞŜǰŜŘśȱ
ȱ ¢ȱǱȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱȱ¡ȱŗŘȱȱȱ ȱ ȱ ȱ ȱśŚŞǰŞŝŚȱȱ ȱśśŘǰŚŗŗȱ
ȱ ¢ȱŗȱ¢ȱ ȱ ȱ ȱ ȱ ȱŗŗǰŞŖşǰśŞşȱȱ ȱŗŗǰŖřŚǰŘŗŚȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŘǰřśŞǰŚŜřȱȱ ȱŗŗǰśŞŜǰŜŘśȱ
77
ANNUAL REPORT 2019

19. EMPLOYEE BENEFITS (CONT’D.)
ȱ ȱęȱȱǻȂǯǼ
ȱ ŘŖŗşȱȱȱȱęȱȱȱȱȱȱȱȱȱȱ Ǳ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱȱ ȱȱȱȱȱ
obligation plan asset Total
RM RM RM
Balance as at 1 April 2018ȱ ȱ ȱ ȱŗśǰŝśśǰŘśŗȱȱ ȱǻŚǰŗŜŞǰŜŘŜǼȱ ȱŗŗǰśŞŜǰŜŘśȱ
ȱ ȱȱȱęȱ¢Ǳ
ȱ ȱȱȱ ȱ ȱ ȱ ȱŗǰŘŖşǰŗŖŖȱȱ ȱȬȱȱ ȱŗǰŘŖşǰŗŖŖȱ
ȱ ȱȱ ȱ ȱ ȱ ȱŝşşǰşŗŜȱȱ ȱǻŘŘŚǰŞŖşǼȱ ȱśŝśǰŗŖŝȱ
ȱ ȱęȱȱȱȱęȱȱȱǻȱŜǼȱ ȱ ȱ ȱŘǰŖŖşǰŖŗŜȱȱ ȱǻŘŘŚǰŞŖşǼȱ ȱŗǰŝŞŚǰŘŖŝȱ
ȱ ȱęȱǻǼȦȱ ȱ ȱ ȱǻŗǰŖŗśǰŚşŗǼȱ ȱŚŜŚǰŚśśȱȱ ȱǻśśŗǰŖřŜǼ

ȱ ȱȦǻǼȱȱȱȱȱȱ ȱ ȱŘŜŘǰřśŘȱȱ ȱǻŗŘŜǰŖŚśǼȱ ȱŗřŜǰřŖŝȱ
ȱ ȱ¢ȱȱ¢ȱ ȱ ȱ ȱȬȱȱ ȱǻśşŝǰŜŚŖǼȱ ȱǻśşŝǰŜŚŖǼ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱǻŝśřǰŗřşǼȱ ȱǻŘśşǰŘřŖǼȱ ȱǻŗǰŖŗŘǰřŜşǼ
ȱ ȱȱȱřŗȱȱŘŖŗşȱ ȱ ȱ ŗŝǰŖŗŗǰŗŘŞȱȱ ǻŚǰŜśŘǰŜŜśǼȱ ŗŘǰřśŞǰŚŜřȱ
ȱ ŘŖŗŞȱȱȱȱęȱȱȱȱȱȱȱȱȱȱ Ǳȱ ȱ ȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱȱ ȱȱȱȱȱ
obligation plan asset Total
RM RM RM
Balance as at 1 April 2017ȱ ȱ ȱ ȱŗřǰŝřŗǰŘŞřȱȱ ȱǻřǰŞŘŖǰŝŜŖǼȱ ȱşǰşŗŖǰśŘřȱ
ȱ ȱȱȱęȱ¢Ǳ
ȱ ȱȱȱ ȱ ȱ ȱ ȱŗǰŖŝŘǰřŞŗȱȱ ȱȬȱȱ ȱŗǰŖŝŘǰřŞŗȱ
ȱ ȱȱ ȱ ȱ ȱ ȱŝŖśǰŖśşȱȱ ȱǻŘŗŘǰŘŜŝǼȱ ȱŚşŘǰŝşŘȱ
ȱ ȱęȱȱȱȱęȱȱȱǻȱŜǼȱ ȱ ȱ ȱŗǰŝŝŝǰŚŚŖȱȱ ȱǻŘŗŘǰŘŜŝǼȱ ȱŗǰśŜśǰŗŝřȱ
ȱ ȱęȱǻǼȦȱ ȱ ȱ ȱǻŚśŗǰŖŜŜǼȱ ȱŗŞśǰşŚřȱȱ ȱǻŘŜśǰŗŘřǼ

ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱŜşŝǰśşŚȱȱ ȱŗşŞǰŖŗŗȱȱ ȱŞşśǰŜŖśȱ
ȱ ȱ¢ȱȱ¢ȱ ȱ ȱ ȱȬȱȱ ȱǻśŗşǰśśřǼȱ ȱǻśŗşǰśśřǼ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŘŚŜǰśŘŞȱȱ ȱǻŗřśǰśşşǼȱ ȱŗŗŖǰşŘşȱ
ȱ ȱȱȱřŗȱȱŘŖŗŞȱ ȱ ȱ ȱŗśǰŝśśǰŘśŗȱȱ ȱǻŚǰŗŜŞǰŜŘŜǼȱ ȱŗŗǰśŞŜǰŜŘśȱ
78
ANNUAL REPORT 2019

19. EMPLOYEE BENEFITS (CONT’D.)
ȱ ȱęȱȱǻȂǯǼ
ȱ ȱȱȱȱȱȱęȱęȱȱȱȱȱ¢ȱȱ ȱ Ǳȱȱ ȱ
2019 2018
% %
ȱ ȱȱ ȱ ȱ ȱ ȱ śǯŗŖȱ śǯřŖ

ȱ ¢ȱȱȱ ȱ ȱ ȱ ŜǯŖŖȱ ŜǯŖŖ
ȱ¢ȱ¢ȱ ȱȱȱȱȱȱ¢ȱȱȱȱȱęȱȱȱȱ
ęȱęȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱ ȱȱǯȱ
Increase/ 2019 Increase/ 2018

(decrease) RM (decrease) RM
ȱ ȱȱ ȱ ȱ ƸŗƖȱ ȱǻŗǰřŗŝǰŘřřǼȱ ƸŗƖȱ ȱǻŗǰŘŘŖǰŘŗŜǼ

ȱ ȱ ȱ ȱ ȱ ȱ ȬŗƖȱ ȱŗǰśŖŘǰŚşşȱȱ ȬŗƖȱ ȱŗǰřşŚǰŘŜŜȱ
ȱ ¢ȱȱȱȱ ȱ ƸŗƖȱ ȱŚřŗǰŖŘŖȱȱ ƸŗƖȱ ȱŚŖŞǰśŝŘȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȬŗƖȱ ȱǻřşśǰśŘŚǼȱ ȬŗƖȱ ȱǻřŝśǰŚśŞǼ
20. TRADE AND OTHER PAYABLES
2019 2018
RM RM
Trade payables
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱşǰşŚŗǰřşŜȱȱ ȱŝǰŗŘŖǰŞŗŚȱ
ȱ ȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱşŘǰşśŞȱȱ ȱřŝŗǰřśśȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŗŗǰŖŘŚǰŜŘŖȱȱ ȱŗŖǰřŘŝǰŝśŜȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŘŗǰŖśŞǰşŝŚȱȱ ȱŗŝǰŞŗşǰşŘśȱ
Other payables
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŞǰśŞŞǰŖŝŜȱȱ ȱŝǰŝŖŚǰŜŗŗȱ
ȱ ¢ȱ¢ȱ ȱ ȱ ȱ ȱŘŖǰŗŖřǰŘŚřȱȱ ȱŝǰŝřŝǰşşŖȱ
ȱ ȱ¢ǰȱȱ ȱ ȱ ȱ ȱȬȱȱ ȱŗŖŜǰŞŖŖȱ
ȱ ȱȱȱȱ¢ȱ ȱ ȱ ȱ ȱŘǰŞŚŝǰşřřȱȱ ȱŘǰŞŗŝǰŖŖşȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱŗşŖǰŖşśȱȱ ȱŘŗŜǰŗŞŞȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱřŗǰŝŘşǰřŚŝȱȱ ȱŗŞǰśŞŘǰśşŞȱ
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśŘǰŝŞŞǰřŘŗȱȱ ȱřŜǰŚŖŘǰśŘřȱ
79
ANNUAL REPORT 2019

20. TRADE AND OTHER PAYABLES (CONT’D.)
ȱ ȱ ȱ ¢ȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ęȱ
Ǳ
2019 2018
RM RM
ȱ ȱȱȱȱ¢ȱ ȱ ȱ ȱ śŘǰŝŞŞǰřŘŗȱ řŜǰŚŖŘǰśŘř

ȱ Ǳȱ ȱ¢ǰȱȱ ȱ ȱ ȱ Ȭȱ ǻŗŖŜǰŞŖŖǼ
ȱ ȱęȱȱ ȱ ȱ ȱ śŘǰŝŞŞǰřŘŗȱ řŜǰŘşśǰŝŘř
(a) Trade payables
ȱȱȱȬȱǯȱȱȱȱȱȱȱȱȱ¢ȱȱȱřŖȱȱŜŖȱ¢ȱ
ǻŘŖŗŞǱȱřŖȱȱŜŖȱ¢Ǽǯ
(b) Other payables
ȱ ȱ ȱ Ȭȱ ǯȱ ȱ ¢ȱ ȱ ¢ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ řȱ ȱ ǻŘŖŗŞǱȱ
ȱȱȱřȱǼǯ
(c) Amounts due to holding company and other related companies
ȱȱȱǰȱȬȱȱȱȱȱȱȱřŖȱȱŜŖȱ¢ȱǻŘŖŗŞǱȱřŖȱȱŜŖȱ¢Ǽǯ
21. DEFERRED TAXATION
2019 2018
RM RM
ȱ ȱŗȱȱŘŖŗŞȦŘŖŗŝȱ ȱ ȱ ȱ ȱşŝŝǰŘśŘȱȱ ȱŘǰŞŝŜǰŖŘŗȱ

ȱ ȱȱȱȱȱȱǻȱşǼȱ ȱ ȱ ȱ ȱǻŗǰŘŚřǰŜŜŚǼȱ ȱǻŘǰŖŚŜǰřŖŜǼ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱǻřŘǰŝŗŚǼȱ ȱŗŚŝǰśřŝȱ
ȱ ȱřŗȱȱ ȱ ȱ ȱ ȱ ȱǻŘşşǰŗŘŜǼȱ ȱşŝŝǰŘśŘȱ
ȱ ȱȱȱěĴȱȱ Ǳȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱ¡ȱȱ ȱ ȱ ȱ ȱǻŚǰśŘŘǰŜŝŘǼȱ ȱǻŚǰśřśǰŝŘşǼ

ȱ ȱ¡ȱȱ ȱ ȱ ȱ ȱŚǰŘŘřǰśŚŜȱȱ ȱśǰśŗŘǰşŞŗȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱǻŘşşǰŗŘŜǼȱ ȱşŝŝǰŘśŘȱ
80
ANNUAL REPORT 2019

21. DEFERRED TAXATION (CONT’D.)
Deferred tax assets of the Company:
Retirement
obligations Provisions Total
RM RM RM
ȱ ȱŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱŘǰŝŞŖǰŝşŖȱȱ ȱŗǰŝśŚǰşřşȱȱ ȱŚǰśřśǰŝŘşȱ

ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱŗśŘǰśŘŝȱȱ ȱǻŗşŞǰŘşŞǼȱ ȱǻŚśǰŝŝŗǼ
ȱ ȱȱȱȱȱ ȱ ȱ ȱřŘǰŝŗŚȱȱ ȱȬȱȱ ȱřŘǰŝŗŚȱ
ȱ ȱřŗȱȱŘŖŗşȱ ȱ ȱ ȱŘǰşŜŜǰŖřŗȱȱ ȱŗǰśśŜǰŜŚŗȱȱ ȱŚǰśŘŘǰŜŝŘȱ
ȱ ȱŗȱȱŘŖŗŝȱ ȱ ȱ ȱ ȱŘǰśşřǰŞŚŞȱȱ ȱŗǰřşŞǰŖśŗȱȱ ȱřǰşşŗǰŞşşȱ

ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱřřŚǰŚŝşȱȱ ȱřśŜǰŞŞŞȱȱ ȱŜşŗǰřŜŝȱ
ȱ ȱȱȱȱȱ ȱ ȱ ȱǻŗŚŝǰśřŝǼȱ ȱȬȱȱ ȱǻŗŚŝǰśřŝǼ
ȱ ȱřŗȱȱŘŖŗŞȱ ȱ ȱ ȱŘǰŝŞŖǰŝşŖȱȱ ȱŗǰŝśŚǰşřşȱȱ ȱŚǰśřśǰŝŘşȱ
Deferred tax liabilities of the Company:
Property,
plant and
equipment
RM
ȱ ȱŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱ ȱ ȱśǰśŗŘǰşŞŗȱ
ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱ ȱǻŗǰŘŞşǰŚřśǼ
ȱ ȱřŗȱȱŘŖŗşȱ ȱ ȱ ȱ ȱ ȱŚǰŘŘřǰśŚŜȱ
ȱ ȱŗȱȱŘŖŗŝȱ ȱ ȱ ȱ ȱ ȱ ȱŜǰŞŜŝǰşŘŖȱ
ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱ ȱǻŗǰřśŚǰşřşǼ
ȱ ȱřŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱ ȱśǰśŗŘǰşŞŗȱ
22. SHARE CAPITAL
Number of ordinary
shares Amount
2019 2018 2019 2018
RM RM
Issued and fully paid:

ȱ ȱŗȱȱŘŖŗŞȦŘŖŗŝȱ ȱ ȱ ȱ ȱ
ȱȱ ȱȱřŗȱȱȱ ȱ ȱ ȱŜŖǰŝşŞǰśřŚȱȱ ȱŜŖǰŝşŞǰśřŚȱȱ ȱŜśǰŗŖŘǰŘřŚȱȱ ȱŜśǰŗŖŘǰŘřŚȱ
ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱ¢ǯȱȱ¢ȱȱȱ¢ȱ ȱȱȱȱ¢Ȃȱȱǯ
81
ANNUAL REPORT 2019

23. RETAINED EARNINGS
ȱ ȱ¢ȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ǯ
24. OTHER RESERVES
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱ
reserves
RM
ȱ ȱŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱ ȱ ȱǻŝŘŘǰŗřŚǼ
Other comprehensive income:
ȱ ȱȱȱęȱęȱȱȱȱǻȱŗşǼȱ ȱ ȱ ȱ ȱ ȱǻŗřŜǰřŖŝǼ
ȱ ȱȱȱȱ¡ȱěȱ ȱ ȱ ȱ ȱ ȱřŘǰŝŗŚȱ
ȱ ȱřŗȱȱŘŖŗşȱ ȱ ȱ ȱ ȱ ȱǻŞŘśǰŝŘŝǼ
ȱ ȱŗȱȱŘŖŗŝȱ ȱ ȱ ȱ ȱ ȱ ȱǻŗǰŗŞşǰřřśǼ
Other comprehensive income:
ȱ ȱȱȱȱęȱȱȱęȱȱȱǻȱŜǼȱȱ ȱ ȱ ȱ ȱ ȱŗǰśŗŖǰřŚřȱ
ȱ ȱȱȱęȱęȱȱȱȱǻȱŗşǼȱ ȱ ȱ ȱ ȱ ȱǻŞşśǰŜŖśǼ
ȱ ȱȱȱȱ¡ȱěȱ ȱ ȱ ȱ ȱ ȱǻŗŚŝǰśřŝǼ
ȱ ȱřŗȱȱŘŖŗŞȱ ȱ ȱ ȱ ȱ ȱǻŝŘŘǰŗřŚǼ
ȱ ȱęȱęȱȱȱȱȬȱȱȱȱȱȱȱȱęȱęȱ¢ȱȱǯȱȱ
25. CAPITAL COMMITMENT
2019 2018
RM RM
ȱ ¢ǰȱȱȱ
ȱ ȱȱȱȱȱȱ ȱ ȱ ȱ ȱřśǰŜŖŞǰŖŚŚȱȱ ȱŝřǰŖŞŚǰŗşŝȱ
ȱ ȱȱȱȱȱȱȱ ȱ ȱ ȱ ȱŗŘŜǰşŚŜǰŖŖŖȱȱ ȱŗŞǰŞŘśǰŖŖŖȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŜŘǰśśŚǰŖŚŚȱȱ ȱşŗǰşŖşǰŗşŝȱ
26. CONTINGENT LIABILITIES
2019 2018
RM RM
ȱ ȱȱȱ¡ȱȱȱȱ ȱ ȱ ȱ ȱŗǰřřŜǰśŖŖȱȱ ȱŗǰřřŜǰśŖŖȱ
82
ANNUAL REPORT 2019

27. RELATED PARTY DISCLOSURES
ǻǼȱ ȱȱȱȱȱȱ ȱȱȱęȱǰȱȱ¢ȱȱȱ ȱȱ
ȱȱȱȱȱęȱ¢Ǳ
2019 2018
RM RM
ȱ ȱ ȱ ȱȱǱȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱŘřǰŝŘŞȱȱ ȱŘŖǰŘŞŚȱ

ȱ ȱ ¢ȱ¢ȱ ȱ ȱ ȱ ȱǻşǰŝŘŗǰŝřŘǼȱ ȱǻşǰśŜŘǰŝşŞǼ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱşşǰśŚŝǰŞŘśȱȱ ȱŗŖŜǰśşŘǰśřŝȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱǻŗŜśǰŞşşǰśřŖǼȱ ȱǻŗśŞǰŚşŞǰŚśŘǼ
ȱ ȱ ȱȱȱ ȱ ȱ ȱ ȱǻŚŚŘǰŗŗŜǼȱ ȱǻŗřşǰśŜŖǼ
ȱ ȱ ȱ¡ȱ ȱ ȱ ȱ ȱȬȱȱ ȱǻřŝǰśŗřǼ
ȱ ȱ ȱ¡ȱ ȱ ȱ ȱ ȱǻŜŝŜǰŗŞşǼȱ ȱǻŝŘşǰşŚŘǼ
ȱ ȱ ȱȱ¢ȱȱ ȱ ȱ ȱ ȱǻŘǰřŝŝǰşřśǼȱ ȱǻŘǰřŚŗǰřŖŜǼ
ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱěȱȱȱȱȱ
ȱ ȱȱǯ
ȱ ǻǼȱ ȱȱ¢ȱȱȱ ȱ ȱ ȱ ȱ ȱ
ȱ ¡ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ȱ ȱ ȱ ¢ȱ ȱ
ȱȱȱ¢ȱȱȱȱȱŝǯ
28. FAIR VALUE OF FINANCIAL INSTRUMENTS
ȱ¢ȱȱȱȱęȱȱȱȱ¢ȱ¡ȱȱȱȱȱȱȱ¢ȱ
ȱȱȱǯȱ
Determination of fair value
ȱȱȱȱȱȱȱȱȱȱ ȱ¢ȱȱȱȱ¡ȱȱȱ
ȱ ȱȱȱȱęȱȱȱȱȱȱȱȱȱȱ ȱ¢ȱȱȱȱ
¡ȱȱȱǱ
Note
ȱ ȱȱȱȱǻ¡ȱ¢ȱȱ ȱǰȱǼȱǻǼȱ ȱ ȱ ȱŗřȱ

ȱ ȱȱȱ¢ȱǻ¡ȱ ȱ¢ǰȱǼȱǻǼȱ ȱ ȱ ȱ ȱŘŖȱ
ȱ¢ȱȱȱȱęȱȱȱȱȱȱ¡ȱȱȱȱȱȱȱȬȱ
ȱ¡ȱȱ Ǳ
ěȱȱ
ȱȱȱȱěȱȱȱȱ¢ȱȱ¡ȱȱȱĚ ȱȱȱȱȱȱȱ
ȱ¢ȱȱȱȱ ȱȱȱȱǯ
83
ANNUAL REPORT 2019

28. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D.)

ȱ¢ȱȱȱȱȱȱȱȱ ȱȱȱǯȱȱȱ¢ȱȱ
ȱȱȱ ȱȱȱȱȱǯȱȱȱȱȱȱȱ
ȱȱ¢ȱȱǰȱȱ¡ȱȱȱ ȱǯ
ȱ¢ȱȱȱ ȱ¢ȱȱȱȱȱȱȱȱęȱȱȱȱȱǱȱ
ȱŗȱ ȱ Ȭȱȱȱȱȱȱȱȱęȱǯ
ȱŘȱȱ ȱ Ȭȱȱȱȱȱȱȱȱȱȱȱŗȱȱȱȱȱȱȱȱ¢ȱȱ
ȱ ȱ ȱ ȱȱ¢ǯȱ
ȱ ȱřȱ ȱ Ȭȱȱȱȱȱȱȱȱȱǯ
ȱ ȱȱȱȱǰȱȱ¢ȱȱȱ ȱęȱȱȱ¢ȱȱȱȱȱȱǱ
Level 2
RM
Financial liability
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŜŝǰřŖŖȱȱ
Financial asset
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŘŖǰŘŚřȱ
Financial liability
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŘŜǰŚşŘȱ
ȱ ȱ ȱȱȱȱ ȱȱŗǰȱȱŘȱȱȱřȱȱȱęȱ¢ǯȱ ȱ ȱ
84
ANNUAL REPORT 2019

Řşǯȱ ȱ ȱ ȱȱȱ
ȱ ȱ¢ȱȱ¡ȱȱęȱȱȱȱȱȱȱȱȱȱęȱǯȱȱ¢ȱęȱ
ȱȱȱǰȱ¢ȱǰȱȱȱǰȱȱ¢ȱȱȱȱȱǯȱȱ
ȱ ȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ¡ȱ
¢ȱȱȱȱȱȱęǰȱęȱȱȱȱęȱǯȱȱȱĴȱȱȱ
ȱȱȱěȱȱȱȱȱǯȱ
ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ęȱ ¢ǰȱ ȱ ¢Ȃȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ
ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȬĜǯȱ ȱ ¢ȱ ȱ ȱ ¢ȱ
ȱǯ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢Ȃȱ ¡ȱ ȱ ȱ Ȭȱ ęȱ ȱ ȱ ȱ
ǰȱȱȱȱȱȱȱȱȱǯ
(a) Credit risk
ȱ ȱȱȱȱȱȱȱȱ¢ȱȱȱȱęȱȱȱȱ¢ȱȱȱȱ
ǯȱȱ¢Ȃȱ¡ȱȱȱȱȱ¢ȱȱȱȱȱǯȱȱȱęȱ
ȱǻȱȱǰȱȱȱȱȱȱǼǰȱȱ¢ȱȱȱȱ¢ȱ
ȱ¡¢ȱ ȱȱȱȱǯ
ȱ ȱ¢Ȃȱȱȱȱȱȱȱ ȱ ȱȱȱȱȱȱȱȱ
ȱ ¡ǯȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ȱ ȱ ȱ ¢Ȃȱ ¢ȱ
ȱȱȱ ȱ ȱȱȱȱȱȱȱȱȱȱęȱǯȱȱǰȱȱ
ȱȱȱȱȱȱȱ ȱȱȱȱȱ¢Ȃȱ¡ȱȱȱȱȱȱęǯȱ
ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱǰȱȱ¢ȱȱȱěȱȱȱ
ȱȱǯȱ
¡ȱȱȱ
ȱ ȱȱȱǰȱȱ¢Ȃȱ¡ȱ¡ȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱ
ȱęȱȱȱȱȱȱȱęȱǰȱȱȱ ȱȱȱǯ
ȱ ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱŗřǯ
ȱȱȱę
ȱ ȱ¢ȱȱȱȱȱȱ¢ȱȱȱ¢ȱęȱȱȱȱȱȱȱ
ȱǯȱȱȱȱȱęȱȱȱ¢Ȃȱȱȱȱȱȱȱȱȱ Ǳȱ
2019 2018
RM’000 % of total RM’000 % of total
By country:
ȱ ȱ ¢ȱ ȱ ȱ ȱŘŖǰşşŜȱȱ ŚřƖȱ ȱŗşǰŗşŗȱȱ ŚřƖ

ȱ ȱ ȱȱ ȱ ȱŜǰśşŖȱȱ ŗŚƖȱ ȱŘǰŘŜŝȱȱ śƖ
ȱ ȱ ȱȱ ȱ ȱŞǰşŗśȱȱ ŗŞƖȱ ȱŞǰŞŘşȱȱ ŘŖƖ
ȱ ȱ ȱȱ ȱ ȱŗǰŞşŘȱȱ ŚƖȱ ȱŗǰŘŘŖȱȱ řƖ
ȱ ȱ ȱ ȱ ȱ ȱřǰŚřşȱȱ ŝƖȱ ȱŚǰŞŝŗȱȱ ŗŗƖ
ȱ ȱ ȱ ȱ ȱ ȱŚȱȱ ŖƖȱ ȱŜşŘȱȱ ŘƖ
ȱ ȱ ȱ ȱ ȱ ȱśŚŜȱȱ ŗƖȱ ȱşśŚȱȱ ŘƖ
ȱ ȱ ȱȱ ȱ ȱŜǰŜŖŖȱȱ ŗřƖȱ ȱŜǰŘŘŚȱȱ ŗŚƖ
ȱ ȱ ȱ ȱ ȱ ȱ ȱŚŞǰşŞŘȱȱ ŗŖŖƖȱ ȱŚŚǰŘŚŞȱȱ ŗŖŖƖ
85
ANNUAL REPORT 2019

Řşǯȱ ȱ ȱ ȱȱȱȱǻȂǯǼ
(a) Credit risk (cont’d.)
ȱ ȱ ȱȱȱǰȱ¡¢Ǳȱȱ ȱ ȱ ȱ
ȱ ȱ Ȭȱ ŚŞƖȱǻŘŖŗŞǱȱŚŘƖǼȱȱȱ¢Ȃȱȱȱ ȱȱȱśȱȱǯȱ
ȱ ȱ Ȭȱ ŗŜƖȱǻŘŖŗŞǱȱŘŚƖǼȱȱȱ¢Ȃȱȱȱȱȱ ȱȱȱȱǯ
ȱȱȱȱȱȱȱȱ
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱŗřǯȱȱȱ
ȱǰȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱęȱȱȱȱ ȱȱȱȱȱȱ¢ȱȱǯȱ
ȱȱȱȱȱȱȱȱ
ȱ ȱ ȱȱęȱȱȱȱȱȱȱȱȱȱȱȱȱŗřǯ
(b) Liquidity risk
ȱ ¢ȱȱȱȱȱȱȱ¢ȱ ȱȱĜ¢ȱȱȱęȱȱȱȱȱȱ
ǯȱȱ¢Ȃȱ¡ȱȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱęȱȱȱ
ǯȱȱ¢Ȃȱȱȱȱȱȱȱ ȱ¢ȱȱȱȱĚ¡¢ȱȱȱȱ
ȱȬ¢ȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ ȱ ȱ ¢Ȃȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱ¢ȱǯ
On demand or
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱ¢
2019 2018
RM RM
Financial liabilities:
ȱ ȱ ȱȱȱ¢ȱ ȱ ȱ ȱ ȱśŘǰŝŞŞǰřŘŗȱȱ ȱřŜǰŘşśǰŝŘřȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱŜŝǰřŖŖȱȱ ȱŘŜǰŚşŘ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱśŘǰŞśśǰŜŘŗȱȱ ȱřŜǰřŘŘǰŘŗśȱ
(c) Interest rate risk
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱĚ ȱȱȱ¢Ȃȱęȱȱ ȱĚȱ
ȱȱȱȱȱȱǯȱ
ȱ ȱ¢Ȃȱ¡ȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱęȱǯȱ
ȱ ȱ ȱ ¢Ȃȱ ęȱ ȱ ȱ ¢ȱ Ȭȱ ȱ ȱ ȱ ȱ ȱ řȱ ȱ ǻŘŖŗŞǱȱ ȱ ȱ řȱ
Ǽȱȱȱȱǯȱ
¢ȱ¢ȱȱȱȱ
ȱ ȱȱȱǰȱȱȱȱȱȱŗŖȱȱȱ Ȧǰȱ ȱȱȱȱȱǰȱȱ
¢Ȃȱ ęȱ ȱ ¡ȱ ȱ ȱ ȱ Şřǰŗŝşȱ ǻŘŖŗŞǱȱ ŞŞǰřŞŝǼȱ Ȧǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
Ȧȱȱȱȱȱ ȱȱęȱǯȱȱȱȱȱȱȱ
ȱȱȱ¢ȱ¢ȱȱȱȱȱ¢ȱȱȱǯ
86
ANNUAL REPORT 2019

Řşǯȱ ȱ ȱ ȱȱȱȱǻȂǯǼ
(d) Foreign currency risk
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱĚ ȱȱȱęȱȱ ȱĚȱȱȱ
ȱȱȱ¡ȱǯ
ȱ ȱ¢ȱȱȱ¢ȱ¡ȱȱȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱȱȱ¢ȱȱȱ¢ǰȱǯȱȱȱȱȱ ȱȱȱȱȱ
ȱ¢ȱȱȱ ǯ
ȱ ¡¢ȱřŞƖȱǻŘŖŗŞǱȱŚŖƖǼȱȱȱ¢Ȃȱȱȱȱȱȱȱ ȱȱřŖƖȱǻŘŖŗŞǱȱ
řŗƖǼȱȱȱȱȱȱȱǯȱȱ¢Ȃȱȱȱȱȱ¢ȱȱȱȱ
ȱȱȱȱ¡ǯȱ
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱǯȱȱȱ
ȱǰȱȱȱ¢ȱȱȱȱȱ ȱȱȱŗŖǰŚŗŘǰşŞřȱǻŘŖŗŞǱȱşǰŞŝŗǰŞŜśǼǯȱ
ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ¢ȱ ¡ȱ ȱ ȱ Ĵȱ ȱ ȱ
ȱȱȱȱȱȱ¢ȱȱȱȱȱęȱȱȱȱȱȱǯȱȱ ȱ¢ȱ
ȱȱȱȱȱȱ¢ȱȱȱȱǯȱȱȱȱ¢Ȃȱ¢ȱȱȱȱȱ ȱȱ
ȱȱęȱȱȱȱǯ
ȱ ȱȱȱǰȱȱ¢ȱȱşŜƖȱǻŘŖŗŞǱȱŞŚƖǼȱȱŝŞƖȱǻŘŖŗŞǱȱŞŝƖǼȱȱȱȱ¢ȱȱ
ȱȱȱȱ ȱȱ¢ȱȱ ȱęȱȱ¡ȱȱȱȱǰȱ¡ȱȱ
¢ȱŘŖŗşǯȱ
¢ȱ¢ȱȱȱ¢ȱ
ȱ ȱ ȱȱȱȱ¢ȱȱȱ¢Ȃȱęȱȱȱ¡ȱȱȱ¢ȱȱȱȱȱ
ǰȱǰȱȱȱ ȱ¡ȱȱȱȱȱȱǰȱ ȱȱȱȱȱǯȱ
2019 2018
RM’000 RM’000
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęȱȱȱ ȱęȱȱ
before tax before tax
ȱ ȱ Ȧȱ ȬȱȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱŜŖŞȱȱ ȱŚşşȱ

ȱ ȱ ȱ ȱ Ȭȱ ȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱǻŜŖŞǼȱ ȱǻŚşşǼ
ȱ ȱ Ȧȱ ȬȱȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱǻřŚǼȱ ȱǻŘŝǼ
ȱ ȱ ȱ ȱ Ȭȱ ȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱřŚȱȱ ȱŘŝȱ
ȱ ȱ Ȧȱ ȬȱȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱŝŚȱȱ ȱŚŞȱ
ȱ ȱ ȱ ȱ Ȭȱ ȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱǻŝŚǼȱ ȱǻŚŞǼ
ȱ ȱ Ȧȱ ȬȱȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱǻşǼȱ ȱȬȱ
ȱ ȱ ȱ ȱ Ȭȱ ȱŚƖȱǻŘŖŗŞǱȱŚƖǼȱ ȱ ȱ ȱ ȱşȱȱ ȱȬȱ
(e) Market price risk
ȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱĚ ȱȱȱ¢Ȃȱęȱȱ ȱĚȱ
ȱȱȱȱȱȱǻȱȱȱȱ¡ȱǼǯȱ
ȱ ȱ¢ȱȱ¡ȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱ
ȱȱęȱȱ ȱȱęȱȱȬȬȱęȱȱȱȱȱȱęȱ
ȱȱ¢ǯ
ȱ ȱȱȱǰȱȱȱȱȱȱȱȱȱ ȱȱęȱȱȱȱŗƖȱȦ ǰȱ
ȱȱȱȱȱǰȱȱ¢Ȃȱęȱȱȱ¢ȱ ȱȱȱŗǰşŞŝǰŞŖŗȱȦ ǯȱ
87
ANNUAL REPORT 2019

30. CAPITAL MANAGEMENT
ȱ ȱ¢ȱȱȱȱ¢Ȃȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱǯ
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱȱǯȱȱȱ
ȱȱȱȱǰȱȱ¢ȱ¢ȱȱȱȱ¢ȱȱǰȱȱȱȱȱ
ȱȱ ȱǯȱȱȱ ȱȱȱȱǰȱȱȱȱȱȱ¢ȱȱřŗȱȱŘŖŗşȱȱ
řŗȱȱŘŖŗŞǯȱ
31. SEGMENTAL INFORMATION
(a) Business segment
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȃȬȬȄǰȱ
Ěȱ ȱ ȃ¡Ȅǰȱ ȱ ȱ ȃȱ Ȅȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱȱ¢Ȭǰȱȱȱȱȱǯ
Consumer Industrial
business business
segment segment Total
RM RM RM
At 31 March 2019
Revenueȱ ȱ ȱ ȱ řŘŞǰśŗŘǰŞŗŞȱȱ ȱŗŗşǰŘŗŝǰşŘŗȱȱ ȱŚŚŝǰŝřŖǰŝřşȱ
Results
ȱ ȱ ȱęȱ ȱ ȱ ȱřşǰŖşŝǰŚŝŘȱȱ ȱŘŘǰŞŗŜǰŜŖşȱȱ ȱŜŗǰşŗŚǰŖŞŗȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱřǰřśŚǰŝŝŖȱ
ȱ ȱ ȱȱȱȱ ȱ ȱ ȱ ȱ ȱŝǰŖřřǰřşŗȱ
ȱ ȱ ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱ ȱřśŜǰŞŜşȱ
ȱ ȱ ęȱȱ¡ȱ ȱ ȱ ȱ ȱ ȱŝŘǰŜśşǰŗŗŗȱ
ȱ ȱ ȱ¡ȱ¡ȱ ȱ ȱ ȱ ȱ ȱǻŗŜǰŖŝŞǰśŖŞǼ
ȱ ȱ ęǰȱȱȱ¡ȱ ȱ ȱ ȱ ȱ ȱśŜǰśŞŖǰŜŖřȱ
At 31 March 2018
Revenueȱ ȱ ȱ ȱ ȱřŗřǰřŞŘǰŗŜŝȱȱ ȱŗŘŘǰşŖŚǰŗśřȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
Results
ȱ ȱ ȱęȱ ȱ ȱ ȱřŗǰśşŗǰŖśřȱȱ ȱŘśǰśŘřǰŗŞřȱȱ ȱśŝǰŗŗŚǰŘřŜȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱřǰŘśśǰŞŖŚȱ
ȱ ȱ ȱȱȱȱ ȱ ȱ ȱ ȱ ȱŜǰŜŚŝǰŜŗŖȱ
ȱ ȱ ȱȱȱȱ¢ǰȱȱȱȱ ȱ ȱ ȱ ȱ ȱśŖǰśŗŚȱ
ȱ ȱ ęȱȱ¡ȱ ȱ ȱ ȱ ȱ ȱŜŝǰŖŜŞǰŗŜŚȱ
ȱ ȱ ȱ¡ȱ¡ȱ ȱ ȱ ȱ ȱ ȱǻŗŖǰŞŖŜǰŖŜşǼ
ȱ ȱ ęǰȱȱȱ¡ȱ ȱ ȱ ȱ ȱ ȱśŜǰŘŜŘǰŖşśȱ
88
ANNUAL REPORT 2019

31. SEGMENTAL INFORMATION (CONT’D.)
(a) Business segment (cont’d.)
Consumer Industrial
business business
segment segment Total
RM RM RM
At 31 March 2019
Assets
ȱ ȱ ȱȱ ȱ ȱ ȱřşŗǰŗŜŘǰŗşŖȱȱ ȱŗŚŗǰŝşşǰşŚŜȱȱ ȱśřŘǰşŜŘǰŗřŜȱ
ȱ ȱ ȱ¡ȱȱ ȱ ȱ ȱ ȱ ȱŘşşǰŗŘŜ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱśřřǰŘŜŗǰŘŜŘȱ
Liabilities
ȱ ȱ ȱȱ ȱ ȱ ŚŖǰşśŜǰşŘŗȱȱ ȱŘŚǰŘśŝǰŗŜřȱȱ ȱŜśǰŘŗŚǰŖŞŚȱ
ȱ ȱ ȱ¡ȱ¢ȱ ȱ ȱ ȱ ȱ ȱŘǰŝŗŘǰřŞŗȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱŜŝǰşŘŜǰŚŜśȱ
Other segment information

ȱ ȱ ȱ¡ȱ ȱ ȱ řǰŝŖŞǰŖśŞȱȱ ȱřǰşśśǰŞŜřȱȱ ȱŝǰŜŜřǰşŘŗȱ
ȱ ȱ ȱȱ ȱ ȱ ŝǰŝşŜǰŞŘřȱȱ ȱŞǰřŗŝǰŞŝŝȱȱ ȱŗŜǰŗŗŚǰŝŖŖȱ
At 31 March 2018
Assets
ȱ ȱ ȱȱ ȱ ȱ ȱřśŘǰŚřŞǰŗŞŚȱȱ ȱŗřŚǰŗśřǰŜŖśȱȱ ȱŚŞŜǰśşŗǰŝŞş
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱŚŞŜǰśşŗǰŝŞşȱ
Liabilities
ȱ ȱ ȱȱ ȱ ȱ ŘŝǰřŜŜǰŞŚŜȱȱ ȱŘŖǰŜŚŞǰŝşŚȱȱ ȱŚŞǰŖŗśǰŜŚŖȱ
ȱ ȱ ȱ¡ȱ¢ȱ ȱ ȱ ȱ ȱ ȱŚŜşǰŝşŘȱ
ȱ ȱ ȱ¡ȱȱ ȱ ȱ ȱ ȱ ȱşŝŝǰŘśŘȱ
ȱ ȱ ȱȱ ȱ ȱ ȱ ȱ ȱŚşǰŚŜŘǰŜŞŚȱ
Other segment information

ȱ ȱ ȱ¡ȱ ȱ ȱ ŚǰŖřŚǰŞŘŞȱȱ ȱŚǰřŖŚǰŚŝŗȱȱ ȱŞǰřřşǰŘşşȱ
ȱ ȱ ȱȱ ȱ ȱ ŜǰřřřǰŖşśȱȱ ȱŜǰŝśŜǰřŘşȱȱ ȱŗřǰŖŞşǰŚŘŚȱ
89
ANNUAL REPORT 2019

31. SEGMENTAL INFORMATION (CONT’D.)
(b) Geographical segment:
ȱ ȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱȱȱ¢Ȃȱȱȱȱȱ
¢ǯȱȱȱ¡ȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ǯ
Other
Middle Asian
Malaysia East countries Others Total
RM RM RM RM RM
Revenue
ȱ ȱ ŘŖŗşȱȱ ȱ ȱŘŝśǰŚŚŜǰřřŚȱȱ ȱŜŗǰŚŜŗǰŘŞŚȱȱ ȱŗŖśǰŗşŜǰŜşśȱȱ ȱśǰŜŘŜǰŚŘŜȱȱ ȱŚŚŝǰŝřŖǰŝřşȱ
ȱ ȱ ŘŖŗŞȱȱ ȱȱ ŘŜŗǰŜŞşǰŗşşȱȱ ȱśşǰŞŚŘǰşşśȱȱ ȱŗŖşǰŘşŞǰśŖŞȱȱ ȱśǰŚśśǰŜŗŞȱȱ ȱŚřŜǰŘŞŜǰřŘŖȱ
32. SIGNIFICANT EVENT
ȱ ȱŗŘȱ¢ȱŘŖŗŞǰȱȱ¢ȱȱȱȱȱȱȱȱǻȱȃȄǼȱ ȱȱȱ
ȱȱ

ȱȱȱǯȱǯȱǻȱȃȄǼȱȱȱȱȱȱȱȱȱȱȱǻȱȃ¢ȄǼȱ
ȱ¡¢ȱŘǰŖřŖǰŗŗŜǯśŞȱȱȱǻŗŞŞǰŜŖŚǯŗŞȱȱǼȱȱȱȓǰȱȱȱǰȱ
ȱǰȱȱǯȱȱȱȱȱȱȱ¢ȱȱŞŗǰŘŖŚǰŜŜřǯ
ȱ ȱȱřŗȱȱŘŖŗşǰȱȱȱȱȱȱȱȱȱȱȱȱęǯ
ȱ ȱȱ¢ȱǰȱȱȱȱȱȱȱȱȱȱęǯ
90
ANNUAL REPORT 2019
LIST OF PROPERTIES
AS AT 31 MARCH 2019
Existing Use/ Date of Net Book

Description of Land Acquisition/ Age of Value
Properties Building/Land Area Tenure Revaluation Building RM
ȱȱȱ ȱ ŗȱȱȱ¢ȱ ŗǰŜŞŖȱȱ ȱ ŗşŞŚȱ Śřȱ¢ȱ ŝŗǰśŘś

ŞȱǭȱŞǰȱȱŗǰȱȱ ȱ ȱ ǯȱǯȱ ȱ ǻǼ
ȱǰȱ
ȱǰȱ
Batu Pahat
ȱȱȱȱȱ Ĝǰȱ ȱȱ śřŜǰřŝŜȱ ȱ ŗşŞŚȱ śŚȱ¢ȱ ŗŚǰŚŗŘǰŞŖŞ

ȱśŝŗŖǰȱȱ ȱ ȱ ȱ ¢ȱ¡ȱ ǯȱȱ ¡ȱȱ ǻǼ
ȱ ȱǰȱ ȱ ȱ ȱ ŘǯŚǯŘŖŜŘ
ǰȱ ȱ
ȱȱȱȱȱ Ĝǰȱ ȱȱ ŗŝŘǰŜŚŖȱ ȱ ŗşŞŚȱ Śşȱ¢ȱ ŜǰřŚşǰŘŚŞȱ

ȱśŝŗŖǰȱȱ ȱ ȱ ȱ ¢ȱ¡ȱ ǯȱǯȱ ¡ȱȱ ǻǼ
ȱ ȱǰȱȱ ȱ ȱ ȱ śǯŝǯŘŖŜŝ
ǰȱ ȱ
ȱȱȱȱȱ ȱȱ řŖŚǰşŘŖȱ ȱ ŗşŞŚȱ śŚȱ¢ȱ ŗǰŝşŚǰřŞśȱ

ȱśŝŗŖǰȱȱ ȱ ȱ ȱ ȱ ǯȱǯȱȱ ¡ȱȱ ǻǼ
ȱ ȱǰȱȱ ȱ ȱ ȱ řŗǯŗŘǯŘŖŜŘ
ǰȱ ȱ
ȱȱȱȱȱ ¢ȱ¡ȱ ŞŚǰřŞŖȱ ȱ ŗşşŘȱ Řŝȱ¢ȱ ŗǰşŗŚǰŗŝŚȱ

ȱśŝŗŖǰȱȱ ȱ ȱ ȱ ȱ ǯȱǯȱ ¡ȱ
ȱ ȱǰȱȱ ȱ ȱ ȱ ŗśǯřǯŘŖŝř
ǰȱ ȱ
ȱȱȱȱȱ Ĝǰȱ ȱȱ řŜǰřŘşȱ ȱ ŗşşŘȱ Řŝȱ¢ȱ ŗŞŞǰŜŚşȱȱ

ȱśŝŗŖǰȱȱ ȱ ȱ ȱ ¢ȱ¡ȱ ǯȱǯȱ ¡ȱ
ȱ ȱǰȱȱ ȱ ȱ ȱ ŜǯřǯŘŖŜŚ
ǰȱ ȱ
ȱȱȱ ȱ ȱȱȱȱ śǰŜśřȱ ȱ ŘŖŖřȱ ŗŚȱ¢ȱ ŘǰŚŝşǰŞśŝȱȱ

ȱŚŝŖŞŞǰȱȱ ȱ ȱ ȱ ǯȱǯȱ ¡ȱ
ȱ ȱǰȱ ȱ ȱ ȱ ŘŖǯŗǯŘŖŝŚ
ǰȱ ȱ
91
ANNUAL REPORT 2019
NOTICE OF ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVENȱȱȱ¢Ȭȱǻȃ58thȄǼȱȱ ȱȱǻȃAGMȄǼȱȱȱ¢ȱ ȱȱȱȱ

ȱȱ ȱǭȱ¢ȱǰȱȱřȦŗśśǰȱȱǰȱśŝŖŖŖȱ ȱȱȱ¢ǰȱŘŜȱȱŘŖŗşȱȱŗŖǱŖŖȱǯǯȱȱȱ
ȱǱȬ
AGENDA
ǻȱ ȱ ȱ ȱ
ŗǯȱ ȱȱȱȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱ ȱȱ ȱȱȱȱȱ
ȱȱȱȱȱȱȱǯ śŞthȱ ȱǯȱŝǼȱ
Řǯȱ ȱȱȱęȱȱęȱȬȱȱȱŚŝǯŖȱȱȱ¢ȱȱȱȱęȱ¢ȱȱ ǻȱŗǼ

řŗȱȱŘŖŗşǯ
řǯȱ ȱȱȱ¢ȱȱȂȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǯ ǻȱŘǼ
Śǯȱ ȱȱȱ¢ȱȱȂȱęȱȱȱȱȱȱŜśŖǰŖŖŖȱȱŘŝȱȱŘŖŗşȱȱ ǻȱřǼ

ȱ¡ȱȱ ȱȱȱȱ¢ǯ
śǯȱ ȱȬȱȱ ȱȱ ȱȱȱȱȱ ȱȱŗŘŖȱȱȱ¢Ȃȱ
ȱȱȱȱȱǰȱȱěȱȱȱȬǱȬ
ǻǼȱ ǯȱȱǲȱ ǻȱŚǼ

ǻǼȱ ȱ£ȱȱǯȱ ǻȱśǼ
Ŝǯȱ ȱȬȱȱ ȱȱ ȱȱȱȱȱ ȱȱŗŗŚȱȱȱ¢Ȃȱ
ȱȱȱȱȱǰȱȱěȱȱȱȬǱȬ
ǻǼȱ ȱȱȂȱǻǯǼȱȱȱǲ ǻȱŜǼ

ǻǼȱ ǯȱȱǲȱ ǻȱŝǼ
ǻǼȱ ǯȱ ¢ȱ ȱǯ ǻȱŞǼ
ŝǯȱȱ ȱ ȱ ǯȱ ȱ ǭȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ǻȱşǼ
ǯȱ
ęȱȱǭȱȱȱȱȱ¢ȱȱȱȱȱȱȱę¡ȱȱ
ǯ
As Special Business
ȱȱȱȱȱęǰȱ ȱȱ ȱ¢ȱęǰȱȱȱȱ ȱ¢ȱȱǱȱȬ
Şǯȱȱ ORDINARY RESOLUTION NO. 1:

- AUTHORITY TO ISSUE SHARES PURSUANT TO THE COMPANIES ACT 2016 ǻȱŗŖǼ
ȱ ȃTHATȱȱ ¢ȱȱȱȱȱŘŖŗŜȱǻȃthe ActȄǼǰȱȱȱȱȱȱȱ¢ȱ
ȱȱȱȱȱ¢ȱȱȱǻȃBursa SecuritiesȄǼȱȱ¢ȱȱȱ
ȱȦȱ¢ȱǰȱȱȱȱȱȱ¢ȱ ȱȱȱ
ȱǰȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ȱȱȱǰȱȱȱȱȱȱȱȱȱȱ ȱȱȱ
¢ȱȱȱȱȱȱęȱȱ ¢ȱȱȱȱȱȱȱȱ
ȱȱȱȱȱȱ¡ȱȱȱǻŗŖƖǼȱȱȱȱȱȱȱȱȱȱ
¢ȱȱȱȱǲ
AND THATȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱȱȱȱȱȱǲȱAND FURTHER THATȱȱ¢ȱ
ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱ¡ȱȱ ȱȱȱȱ¢ǯȄ
92
ANNUAL REPORT 2019
Notice of Annual General Meeting (cont’d.)
9. ORDINARY RESOLUTION NO. 2: ǻȱŗŗǼ

- PROPOSED RENEWAL OF EXISTING SHAREHOLDER MANDATE FOR RECURRENT
RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
ȱ ȃTHATȱȱȱȱ¢ȱȱȱȱȱȱǰȱȱȱ
ȱȱ¢ȱȱȱȱȱ ȱȱ¡ȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱěȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱ ȱȱȱ¢ȱȱęȱȱȱŘǯřȱȱȱȱȱȱȱ
ŘŜȱ¢ȱŘŖŗşǰȱȱȱȱȱǱȬ
ǻǼȱ ȱȱȱȱȱȱȱǲ
ǻǼȱ ¢ȱȱȱ¢Ȃȱ¢ȬȬ¢ȱǲ
ǻǼȱ ȱȱȱȱ¢ȱȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱȱȱȱȱȱ¢ȱȱȱȱǲȱ
ǻǼȱ ȱȱȱȱȱ¢ȱǰ
ȱ ǻȱȃMandateȄǼǲ
AND THATȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱǱȬ
ǻǼȱ ȱȱȱȱ¡ȱȱ ȱȱȱȱ¢ȱ ȱȱȱȱ

ȱ ȱȱȱ ȱǰȱȱ ȱȱȱ ȱǰȱȱ¢ȱȱȱȱȱȱ
¡ȱȱ ȱǰȱȱ¢ȱȱ ǲ
ǻǼȱ ȱ¡ȱȱȱȱ ȱ ȱȱ¡ȱȱ ȱȱȱȱȱȱȱ

ȱȱȱȱȱȱȱřŚŖǻŘǼȱȱȱȱȱŘŖŗŜȱǻȱȱȱ¡ȱȱ
ȱ¡ȱȱ¢ȱȱ ȱȱȱȱřŚŖǻŚǼȱȱȱȱȱŘŖŗŜǼǲȱ
ǻǼȱ ȱȱȱ¢ȱȱȱ¢ȱȱȱȱȱȱǲȱ ȱȱȱ
ǲ
AND FURTHER THAT ȱȱȱȱȱȱȱȱȱȱȱȱȱǻȱ

¡ȱȱȱȱȱ¢ȱȱǼǰȱȱ¢ȱ¢ȱȱ¡ȱȱ¢ȱȱȱ
ěȱȱȱǯȄ
ŗŖǯȱ ORDINARY RESOLUTION NO. 3 ǻȱŗŘǼ

- RETENTION OF GENERAL TAN SRI (DR.) DATO’ PADUKA MOHAMED HASHIM BIN
MOHD. ALI (RTD) AS AN INDEPENDENT DIRECTOR
ȱ ȃTHATȱ ȱȱȱǻǯǼȱȂȱȱȱ
ȱȱǯȱȱǻǼȱ ȱȱȱȱ
ȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ ȱǻŗŘǼȱ¢ȱ
ȱśȱȱŗşşśȱȱȱȱ¢ȱȱȱȱȱȱȱȱ¢ǯȄȱ
ŗŗǯȱ ORDINARY RESOLUTION NO. 4

- RETENTION OF TAN SRI DATO’ (DR.) TEO CHIANG LIANG AS AN INDEPENDENT ǻȱŗřǼ
DIRECTOR
ȱ ȃTHATȱȱȱȱȱȱ¢ȱȱŜǰȱȱȱȂȱǻǯǼȱȱȱȱ ȱȱ
ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ ȱ
ǻŗŘǼȱ¢ȱȱŘŞȱȱŘŖŖŗȱȱȱȱ¢ȱȱȱȱȱȱȱȱ¢ǯȄ
ŗŘǯȱȱ ORDINARY RESOLUTION NO. 5 ǻȱŗŚǼ

- RETENTION OF MR. KOAY KAH EE AS AN INDEPENDENT DIRECTOR
ȱ ȃTHATȱȱȱȱȱȱ¢ȱȱŞǰȱǯȱ ¢ȱ ȱȱ ȱȱȱȱȱ

ȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱǻşǼȱ¢ȱȱŗśȱ
ȱŘŖŖŝȱȱȱȱ¢ȱȱȱȱȱȱȱȱ¢ǯȄȱ
93
ANNUAL REPORT 2019
ŗřǯȱȱ ORDINARY RESOLUTION NO. 6 ǻȱŗśǼ

- RETENTION OF MR. DOMINIC AW KIAN-WEE AS AN INDEPENDENT DIRECTOR
ȱ ȃTHATȱǯȱȱ ȱ Ȭȱ ȱȱȱȱȱȱȱȱȱȱȱ¢ȱ

ȱȱȱȱȱȱȱȱǻşǼȱ¢ȱȱŗŖȱȱŘŖŗŖȱȱȱȱ¢ȱȱȱȱ
ȱȱȱȱ¢ǯȄȱ
ŗŚǯȱȱ ORDINARY RESOLUTION NO. 7

- RETENTION OF DATO’ SETIA RAMLI BIN MAHMUD AS AN INDEPENDENT DIRECTOR ǻȱŗŜǼ
ȱ ȃTHATȱȂȱȱȱȱǰȱȱȱȱȱȱ¢ȱ ȱ ȱȱȱȱ
ǻşǼȬ¢ȱȱȱȱŗȱȱŘŖŘŖȱȱȱȱ¢ȱȱȱȱȱȱȱȱ¢ǯȄȱ
15. SPECIAL RESOLUTION ǻȱŗŝǼ

- PROPOSED ADOPTION OF A NEW CONSTITUTION OF THE COMPANY
ȱ ȃTHATȱȱȱȱȱ¢ȱȱȱȱȱ¡ȱȱȱȱȱȱ
ȱȱ¢ȱȱȱ¢ȱȱȱȱǰȱȱ ȱȱȱȱȱȱ¡ȱȱȱȱ
ȱȱȱȱŘŜȱ¢ȱŘŖŗşȱȱȱȱ¢ȱȱȱȱȱȱȱ¢ȱ
ȱȱěǲ
AND THATȱȱȱȱȱ¢ȱȱȱȱ¢ȱȱȱȱȱȱǰȱȱȱ
ȱȱȱ¢ȱȦȱ¡ȱȱȱȱȱȱěȱȱȱȱȱȱȱ ȱ
ȱȱȱ ¢ȱǻȃProposed AdoptionȄǼȱ ȱ ȱȱ ȱ ȱ ȱȱ¢ȱǰȱ
ęǰȱ Ȧȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ
ȱǯȄ
ŗŜǯȱ ȱȱ¢ȱȱ¢ȱȱȱ ȱȱȱȱȱȱǯ
NOTICE OF BOOK CLOSURE
NOTICE IS ALSO HEREBY GIVEN ȱȱęȱȱęȱȬȱȱȱŚŝǯŖȱȱȱ¢ȱȱȱȱęȱ¢ȱ

ȱřŗȱȱŘŖŗşȱ ȱȱ¢ȱȱŘřȱȱŘŖŗşȱȱȱ ȱȱȱȱȱȱȱȱȱȱ
ȱȱȱȱřȱȱŘŖŗşȱȱȱ¢ȱȱȱȱȱśŞthȱ ǯ
ȱȱȱ¢ȱȱȱ¢ȱȱȱǱȬ
ǻǼȱ ȱȱȱȱȂȱȱȱȱŚǯŖŖȱǯǯȱȱřȱȱŘŖŗşȱȱȱȱ¢ȱǲȱȱ
ǻǼȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱ
ȱǯ
¢ȱȱȱȱ
CHUA SIEW CHUAN (MAICSA 0777689)

YEOW SZE MIN (MAICSA 7065735)
¢ȱ
ȱ
ȱǱȱŘŜȱ¢ȱŘŖŗş
Explanatory Notes to Special Business: -
1. Authority to Issue Shares pursuant to the Companies Act 2016
ȱ ȱ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱŘŖŗŜȱ¢ȱȱ
ȱȱȱ¢Ȭȱȱ ȱȱȱȱ¢ȱȱȱŘŝȱȱŘŖŗŞȱǻȱȱȱȱ
ȱȃPrevious MandateȄǼǯȱȱ¢ȱ ȱȱ ȱȱȱȱȱȱ¢Ȭȱȱ ȱȱȱȱ
¢ȱǻȱȱȱȱȱȃ ȱȄǼǯ
94
ANNUAL REPORT 2019
ȱ ȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ ȱȱǯȱȱ
ȱ ȱȱȱȱȱ ȱȱȱȱȱĚ¡¢ȱȱȱ¢ȱȱȱȱȱȱ¢ȱȱȱ
ȱȱȱȱȱȱȱ ȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱ
Ȭȱȱȱȱȱǯ
Řǯȱ ȱ ȱȱ¡ȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ
ǻȱȱȱ “the Proposal”)
ȱ ȱȱ ȱȱȱ¢ȱȱȱĜȱȱȱȱȱ¢ȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱ ȱȱ¢ȱȱȱ¢Ȃȱ¢ȬȬ¢ȱǰȱȱȱȱȱȱȱ
ȱ¢ȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱȱ
¢ȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱ¢ǯȱ
ȱ ȱȱȱȱȱȱȱȱŘŜȱ¢ȱŘŖŗşȱȱȱǯ
3. Retention of General Tan Sri (Dr.) Dato’ Paduka Mohamed Hashim bin Mohd. Ali (Rtd) as an Independent Director
ȱ ȱȱȱǻǯǼȱȂȱȱȱ
ȱȱǯȱȱǻǼȱǻȃTan Sri HashimȄǼȱ ȱȱȱȱȱ
ȱȱȱ¢ȱȱśȱȱŗşşśȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱǻŗŘǼȱ¢ȱȱ
ȱ¢ǯȱȱȱȱȱȱȱ¢ȱȱȱȱĴǰȱȱȱȱȱȱ
ȱȱȱ
ǰȱȱȱȱȱȱȱȱǰȱȱ ȱęǰȱȱȱȱȱ
ȱ
ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱ Ȭȱȱȱȱȱȱȱ ȱȱȱŚǯŘȱȱȱ¢ȱȱȱȱ ǱȬȱ
ǻǼȱ ȱȱ
ȱȱęȱȱęȱȱȱȱȱȱȱȱȱȱŗǯŖŗȱȱȱȱ¢ȱ
ȱȱȱȱȱȱ
Ȋȱ ȱȱȱ¡ȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱ¢ȱǻȱȱȱȱ
ȱȱȃsaid CorporationȄǼǲ
Ȋȱ ȱȱȱ ȱȱȱŘȱ¢ȱȱȱȱȱĜȱǻ¡ȱȱȱȬ¡ȱǼȱȱȱȱȱ
ǽȃĜȄȱȱȱǰȱ¢ǰȱ¢ǰȱȱ ȱȱȱȱȱȱȱ¢ȱȱǰȱȱ
ȱȱȱ¢ȱȱȱȱǾǲ
Ȋȱ ȱȱȱȱȱȱȱȱǲ
Ȋȱ ȱȱȱ¢ȱȱȱ¢ȱ¡ȱǰȱĜȱȱȱȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱȱȱ¢ȱ¡ȱȱȱȱȱȱȱȱǲ
Ȋȱ ȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱ¡ȱ
ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ȱ ǻ¡ȱ ȱ ȱ ȱ Ǽȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ
ǰȱ ȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱ¢ȱȱ¡ǲȱ
Ȋȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ
¡ȱȱȱȱ¢ȱȱǰȱȱȱȱǰȱȱȱȱ¢ȱǰȱȱȱęȱȱȱ
ǻȱȱȱȱȱ¢Ǽȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱ
ȱȱȱȱ¢ȱȱ¡ǲ
ǻǼȱ ȱȱ
ȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱȱ¡ȱȱȱ
ǰȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱȱȱ¢ǲ
ǻǼȱ ȱȱ
ȱȱȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
ǻǼȱ ȱ ȱ

ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
ǰȱ ȱȱȱȦȱ¡ȱĜȱȱ¡ȱǰȱȱȱȱȱ
ȱȱ¢ȱǻȱȱ¢ȱǼȱȱȱȱȱȱȱȱȱȱȱ
ȱ ȱȱȱȱ¡ȱȱȱȱ¢ȱȱȱȱȱȱȱǲȱȱ
ǻǼȱ ȱ ȱ

ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ęȱ ȱ ȱ Ȃȱ ȱ ȱ ȱ ȱ ¢ȱ
ǯ
95
ANNUAL REPORT 2019
4. Retention of Tan Sri Dato’ (Dr.) Teo Chiang Liang as an Independent Director
ȱ ȱȱȂȱǻǯǼȱȱȱȱǻȃTan Sri TeoȄǼȱ ȱȱȱȱȱȱȱȱ¢ȱȱŘŞȱȱ

ŘŖŖŗȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱǻŗŘǼȱ¢ȱȱȱ¢ǯȱȱȱȱȱȱ
ȱ ¢ȱ ȱ ȱ ȱ Ĵǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ
ȱȱȱǰȱȱ ȱęǰȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱ Ȭȱȱȱȱ
ȱȱȱ ȱȱȱŚǯŘȱȱȱ¢ȱȱȱȱ ǱȬȱȱȱ
ǻǼȱ ȱȱȱȱęȱȱęȱȱȱȱȱȱȱȱȱȱŗǯŖŗȱȱȱȱ¢ȱ
ȱȱȱȱȱȱ
ȱȱȱ¢ȱȱ¡ǲȱ
ȱȱȱȱ¢ȱȱ¡ǲ
ǻǼȱ ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱȱ¡ȱȱȱ
ǻǼȱ ȱȱȱȱȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
ǻǼȱ ȱȱȱȱȱȱȱȱ¢ȱęȱȱȱȱǰȱ ȱȱȱǰȱ
ȱȱȱȦȱ¡ȱĜȱȱ¡ȱǰȱȱȱȱȱȱȱ
¢ȱ ǻȱ ȱ ¢ȱ Ǽȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǻǼȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ęȱ ȱ ȱ Ȃȱ ȱ ȱ ȱ ȱ ¢ȱ
ǯ
5. Retention of Mr. Koay Kah Ee as an Independent Director
ȱ ǯȱ ¢ȱ ȱȱǻȃMr. KoayȄǼȱ ȱȱȱȱȱȱȱȱ¢ȱȱŗśȱȱŘŖŖŝȱȱȱȱ

ȱȱȱȱȱȱȱȱȱȱǻşǼȱ¢ȱȱȱ¢ǯȱȱȱȱȱȱȱ¢ȱȱȱ
ȱĴǰȱȱȱȱȱȱȱǯȱ ¢ǰȱȱȱȱȱȱȱȱ
ǰȱȱ ȱęǰȱȱȱȱǯȱ ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱŚǯŘȱȱȱ¢ȱȱȱ
ȱ ǱȬȱȱȱȱ
ǻǼȱ ǯȱ ¢ȱȱęȱȱęȱȱȱȱȱȱȱȱȱȱŗǯŖŗȱȱȱȱ¢ȱ

ȱȱȱȱȱȱ
96
ANNUAL REPORT 2019
ȱȱȱ¢ȱȱ¡ǲȱ
ȱȱȱȱ¢ȱȱ¡ǲ
ǻǼȱ ǯȱ ¢ȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱȱ¡ȱȱȱ

ǻǼȱ ǯȱ ¢ȱȱȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
ǻǼȱ ǯȱ ¢ȱȱȱȱȱȱ¢ȱęȱȱȱȱǰȱ ȱȱȱǰȱ

ǻǼȱ ǯȱ ¢ȱȱȱȱ¢ȱȱȱȱęȱȱȱȂȱȱȱȱȱ¢ȱǯ
Ŝǯȱ ȱȱǯȱȱ ȱ Ȭȱȱȱȱ
ȱ ǯȱȱ ȱ Ȭȱǻȃǯȱ ȄǼȱ ȱȱȱȱȱȱȱȱ¢ȱȱŗŖȱȱŘŖŗŖȱȱȱ

ȱȱȱȱȱȱȱȱȱȱȱǻşǼȱ¢ȱȱȱ¢ǯȱȱȱȱȱȱȱ¢ȱȱ
ȱȱĴǰȱȱȱȱȱȱȱǯȱ ǰȱȱȱȱȱȱȱȱ
ǰȱȱ ȱęǰȱȱȱȱǯȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱŚǯŘȱȱȱ¢ȱȱȱ
ȱ ǱȬȱȱȱȱ
ǻǼȱ ǯȱ ȱ ȱ ęȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŗǯŖŗȱ ȱ ȱ ȱ ¢ȱ
ȱȱȱȱȱȱ
Ȋȱ ȱȱȱ¡ȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱ¢ȱǻȱȱȱȱȱȱ
ȃsaid CorporationȄǼǲ
Ȋȱ ȱ ȱ ȱ ȱ ȱ ȱ Řȱ ¢ȱ ȱ ȱ ȱ ȱ Ĝȱ ǻ¡ȱ ȱ ȱ Ȭ¡ȱ Ǽȱ ȱ ȱ ȱ ȱ
ǽȃĜȄȱ ȱ ȱ ǰȱ ¢ǰȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ȱ
ȱȱȱ¢ȱȱǰȱȱǻ¡ȱȱȱȱǼȱȱȱǰȱȱȱȱ¢ȱǰȱȱȱ
ęȱȱȱ ȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ȱ¢ȱȱ¡ǲȱ
Ȋȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱȱȱȱ¢ȱȱ¡ȱ
ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ǰȱ ȱ ȱ ęȱ ȱ ȱ ǻȱ ȱ
ȱȱȱ¢Ǽȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱȱ
ȱȱ¢ȱȱ¡ǲ
ǻǼȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ ȱ
ǻǼȱ ǯȱ ȱȱȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
ǻǼȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǰȱ
ǻǼȱ ǯȱ ȱȱȱȱ¢ȱȱȱȱęȱȱȱȂȱȱȱȱȱ¢ȱǯ
97
ANNUAL REPORT 2019
7. Retention of Dato’ Setia Ramli bin Mahmud as an Independent Director
ȱ ȂȱȱȱȱȱǻȃDato’ Setia RamliȄǼȱ ȱȱȱȱȱȱȱȱ¢ȱȱŗȱȱ

ŘŖŗŗȱȱ ȱȱȱȱǻşǼȬ¢ȱȱȱȱŗȱȱŘŖŘŖǯȱȱȱȱȱȱȱ¢ȱȱȱȱ
ĴǰȱȱȱȱȱȱȱȂȱȱǰȱȱȱȱȱȱȱȱǰȱ
ȱ ȱ ęǰȱ ȱ ȱ ȱ Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ
ȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱŚǯŘȱȱȱ¢ȱȱ
ȱȱ ǱȬȱȱȱȱ
ǻǼȱ Ȃȱ ȱ ȱ ȱ ęȱ ȱ ęȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŗǯŖŗȱ ȱ ȱ ȱ
¢ȱȱȱȱȱȱȱ
ȱȱȱ¢ȱȱ¡ǲȱ
ȱȱȱȱ¢ȱȱ¡ǲ
ǻǼȱ Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ ȱ
ȱǰȱ¢ȱȱȱ¢ȱȱȱȱȱȱȱȱȱ¢ǲ
ǻǼȱ ȂȱȱȱȱȱȱĚȱȱǰȱ ȱȱȱȬȱȱ ȱȱ¢ǲȱ
ǻǼȱ Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ęȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
ǰȱ ȱȱȱȦȱ¡ȱĜȱȱ¡ȱǰȱȱȱȱȱ
ȱȱ¢ȱǻȱȱ¢ȱǼȱȱȱȱȱȱȱȱȱȱȱ
ǻǼȱ Ȃȱȱȱȱȱȱ¢ȱȱȱȱęȱȱȱȂȱȱȱȱȱ¢ȱ
ǯ
Şǯȱ ȱȱȱȱ ȱȱȱȱ¢ȱǻȃȱȄǼ
ȱ ȱȱȱŗŝȱȱȱ¢ȱȱȱȱ¡ȱȱȱȱȱȱǻȃǭȄǼȱ
ȱȱ¢ȱ ȱȱȱȱŘŖŗŜǰȱ ȱ ȱěȱȱřŗȱ¢ȱŘŖŗŝǯȱȱȱȱȱȱȱȱ
ȱ¡ȱǭȱ ȱȱȱȱȱȱȱ¢ȱȱ¢ȱȱȱȱŘşȱȱŘŖŗŝǰȱ
ȱȱȱ¢ȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ
ȱĜ¢ǯ
ȱ ȱȱȱȱȱȱȱȱŘŜȱ¢ȱŘŖŗşȱȱȱǯ
98
ANNUAL REPORT 2019
Notes to the Notice of the 58th AGM:-
ŗǯȱ ȱȱȱȱǰȱ¢ȱȦȱ ȱȱȱȱȱȱȱȱȱŗşȱȱŘŖŗşȱ
ȱȱȱȱĴȱȱǯȱȱȱȱ
Řǯȱ ȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ¡¢ȱȱ¡ȱȱȱ¢ȱȱȱȱȱĴǰȱ
ǰȱȱȱȱȱȱȱȱȱȱȱ¢ǯȱȱȱȱȱȱȱȱȱęȱȱȱ
¡¢ǯ
řǯȱ ȱȱȱȱȱ¢ȱȱȱȱǰȱȱȱ¢ȱȱȱȱ ȱǻŘǼȱ¡ȱȱȱǰȱȱȱȱ
ȱęȱȱȱȱȱȂȱȱȱȱȱ¢ȱȱ¡¢ǯ
Śǯȱ ȱȱȱ¡¢ȱȱȱȱȱȱ ȱȱȱȱȱȱȦȱȱȱ¢ȱȱ
Ĵ¢ǰȱȱȱȱȱȱȱȱȦǰȱȱȱȱȱȱȱȱȱȱȱĜȱȱĴ¢ȱ¢ȱ
ǯȱȱȱȱȱ¡¢ȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱǯ
śǯȱ ȱȱȦȱȱȱ¡ȱȱȱȱęȱȱȱȱ¢ȱǻȱǼȱȱ

ŗşşŗȱ ȱȱ¢ȱȱȱȱ¢ȱȱȱęȱ ȱȱȱȱȱǻȃomnibus accountȄǼǰȱ
ȱȱȱȱȱȱȱȱ¡ȱ ȱȱ¡ȱȱȱ¢ȱȱȱȱȱȱȱȱ
ȱǯ
Ŝǯȱ ȱȱȱȱ¡¢ȱȱȱ ȱȱĴ¢ȱȱȱ¢ǰȱȱ¢ǰȱȱ ȱȱȱȱȱȱ¢ȱ
ęȱ¢ȱȱȱ ȱȱ¢ȱȱȱȱȱȱȱǻ
Ǽȱǯȱǯȱȱȱŝǰȱȱǰȱ
ȱ ǰȱ ȱ ȱ ǰȱ ȱ
ǰȱ śŖŚşŖȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ŚŞȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱ
ǰȱǰȱȱȱȱȱȱǰȱȱȱȱŘŚȱȱȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱ
ȱ¡¢ȱȱȱȱȱȱǯ
ŝǯȱ ȱȱȱȱȱȱȱ¢ǰȱȱȱȱȱȱřŚŖǻŗǼǻǼȱȱȱȱȱŘŖŗŜȱȱȱȱȱ
ȱȱȱȱȱȱȱȱȱǯȱ
ǰȱȱȱȱȱȱȱ ȱȱǯ
99
SUSTAINABILITY
STATEMENT
CHAIRMAN’S STATEMENT
OUR SUSTAINABILITY STATEMENT
OUR MATERIAL OUR COMMITMENT TO SUSTAINABILITY

SUSTAINABILITY
MATTERS
OUR RESPONSIBILITY TO
CONTINUE IMPROVING
BUSINESS OPERATIONS
CONTINUE MINIMISING
ENVIRONMENTAL FOOTPRINT
CONTINUE ENHANCING
SOCIAL PRACTICES
100
ANNUAL REPORT 2019
CHAIRMAN’S STATEMENT
'Hʋɠ6WɪȴɰKɼOȫʑUɡ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ ǻȄFYȄǼȱ řŗȱ ȱ ŘŖŗşǯȱ ȱ
ȱǻ¢ǼȱȱǻȃAMBȄȱȱȃthe CompanyȄǼǰȱ¢ȱȱȱȱȱȱȱȱȱǯȱ
ȱ¢ȱȱȱ ȱȱȱȱǻȃASVȄǼǰȱ ȱȱȱ¢ȱ¢ȱȱ¢ȱ¢ȱȱȱ
¢ȱȱȱȱȱ Ȭȱȱȱ¢ǰȱȱȱȱȱȱȱǰȱȱȱ
ȱȱǯȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ¢ǰȱ ȱȱȱȱȱ ȱȱȱȱȱȱ
ǯȱ ¢ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ
¢ȱȱȱ Ȭęǯȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱ
ȱȱȱȱǯȱ
ȱȱȱȱȱ ȱ¢ǰȱ ȱȱȱȱȱȱȱȱȱȱȱǰȱǰȱȱ
ǭȱǰȱȱǭȱȱȱȱȱ¡ǯȱȱȱȱȱȱȱȱȱ¢ȱ
ȱȱȱȱĝȱȱ ǰȱȱȱȱȱ ȱȱ¢ȱȱȱȱǯȱ
ȱ¢ȱȱȱȱȱȱȱȱ¢ȱ ȱ¢ȱȱȱȱȱȱ
ȱȱǯȱȱȱȱǰȱ ȱȱȱ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱ
ǰȱȱ¢ȱȱȱȱȱȱȱȱ ȱȱȱȱȱ¢ȱȱȱȱȱ
ȱ Ȭȱȱȱ¢ǯȱ
ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢Ȃȱ ȱ ȱ ȱ ȱ ȱ
ȱǯȱȱ¢ȱȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱ
ȱȱ ¢ȱȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱǯȱȂȱȱ
ȱȱȱȱȱ Ȭȱȱ¢ȱȱ¢ȱȱȱ¢ȱȱ ȱȱ¢ȱȱȱ
ȱȱǰȱȱ¡ȱȱȁǰȱȱǷȂȱȱȱ¢ȱ¢ȱȱǯ
ȱȱȱȱ ȱȱȱȱȱȱȱȱȱ¢ǯȱȱ ǰȱȱǰȱȱȱȱ
ȱ ȱȱ¢ȱȱȱȱǯȱȱȱȱȱȱ ȱ ǰȱ ȱ ȱȱȱȱȱ
ȱȱȱȱȱ Ȭǰȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ ȱȱȱ
¢ȱȱȱȱȱȱȱȱęȱȱǯ

Mohamed Hashim Bin Mohd. Ali (Rtd)
Chairman, Independent Non-Executive Director
101
ANNUAL REPORT 2019
OUR SUSTAINABILITY STATEMENT
Scope of Reporting [102-2, 102-3, 102-4, 102-50, 102-52]

ȱȱȱȱǰȱǰȱȱȱȱȱȱȱ ȱȱ ȱ ȱȱǯȱ
ȱ¢ȱȱȱȱȱȂȱȱȱȱȱȱȱȱȱ ȱȱȱȱ
ȱȱȱ ȱǯȱȱȱȱȱȱȱ ȱȱȱȱŗȱȱŘŖŗŞȱȱřŗȱȱŘŖŗşȱ
ǻȱřŗȱȱŘŖŗşǼȱǰȱȱȱȱȱȱȱȱǰȱȱȱȱȱȱȱȱ
ȱǯ
Reporting Format [102-54]

ȱȱȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱ
ȱǻȃGRIȄǼȱȱȬȱȱǯȱȱȱȱȱȱ¢ȱǰȱȱȱȱȱȱ¢ȱ
¢ȱȱ ȱǻŘndȱǰȱŘŖŗŞǼȱȱȱȱǯ
ȱȱǰȱ ȱǰȱȱȱȱ ȱȱȱȱȱǯ
Feedback [102-53]
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱĴǱȦȦ ǯǯǯ¢ǯȱȱȱ¢ȱȱȱȱȱ¢ȱ¢ȱȱȱ¢ȱȱȱ
ȱȱȱȱȱȱȱ ǯǯǯ¢ȦȬǯ
102-2: Activities, brands, products, and services;

102-3: Location of headquarters
102-4: Location of operations;
102-50: Reporting period
102-52: Reporting cycle
102-53: Contact point for questions regarding the report
102-54: Claims of reporting in accordance with the GRI Standards
102
10
102
ANNUAL REPORT 2019
OUR COMMITMENT TO SUSTAINABILITY
Promoting Sustainable Growth Creating Social Value through Solving Issues Faced by Society
Food Resources
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ To reduce food resources
consumption through
ȱ ȱ ŗŖȱ ȱ ȱ ȱ ęȱ ¢ȱ ȱ řŗȱ ȱ Health and Well-Being resource saving Global Sustainability
ŘŖŘŗǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ To build a healthier technologies and To reduce the impact on
society by helping develop food processing the natural environment
ȱ Ȃȱ ěȱ ȱ ȱ ȱ ȱ ¢ȱ people to eat well technologies that can and strive for ecosystem
ȱȱ¢ȱ¢ǰȱě¢ȱȱȱȱ utilise food resources conservation
more effectively
ȱȱȱȱǯȱ
103
ANNUAL REPORT 2019
OUR COMMITMENT TO SUSTAINABILITY (cont’d.)
Our Contribution Towards Sustainable Development

ȱȱȱȱȱ ȱǻȃSDGsȄǼȱȱȱŘŖŗśȱȱȱȱ ȱȱȱȱȱ
ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ȱȱ ŘŖřŖȱ ȱ
ȱȱȱȱȱȱȱǰȱȱȱȱȱȱȱȱȱȱ
ȱǯȱȱ
ȱȱ ȱȱ¢ȱȱĜȱȱȱ ȱȱ ǰȱȱȱȱǰȱȱȱȱȱ ȱ

¡ȱǻŜǼȱȱȱȱȱǻŗŝǼȱǯȱ
ENSURING SUSTAINABLE WATER

ENSURING HEALTHY LIVING AND MANAGEMENT WITH REDUCED
PROMOTING WELL-BEING. WATER CONSUMPTION AND
ENHANCED EFFLUENT QUALITY.
ENSURING SAFE WORKING ENSURING SUSTAINABLE

ENVIRONMENT, PRODUCTIVE CONSUMPTION AND
EMPLOYMENT AND BOOSTING THE PRODUCTION BY MONITORING
ECONOMIC GROWTH. AND REDUCING OUR WASTE.
PROMOTING PEACEFUL AND

MINIMISING ACTIVITIES WHICH INCLUSIVE SOCIETIES BY
CONTRIBUTE TO CLIMATE CHANGE. ADHERING TO LAWS AND
REGULATIONS AND IMPLEMENTING
SOUND POLICIES.
104
ANNUAL REPORT 2019
Governance and Accountability [102-18, 102-32]

ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
¢ȱȱȂȱȱǯȱȱȱȱ¢ȱȱ¢ȱȱȱȱ ȱȱȱȱ
ȱȱȱȱȱ ȱȱȱěǯȱȱ¢ǰȱȱȱȱǻȃMDȄǼȦȱ¡ȱĜȱǻȃCEOȄǼȱȱȱ
ȱȱȱȱ¢ȱȱ ȱȱ¢ǯȱȱȦȱȱȱ¢ȱȱȱȱĜȱȱ
ȱ¢ȱȱĴǯȱȱ ȱĴȱȱȱ¢ȱȱ
ȱȱȱȱȱȱ¢ȱ
ȱǻřǼȱȱȱǻǰȱ¢ǰȱǼȱȱ ȱ ǯ
ȱȦ
ȱ¡ȱĜ
ȱȱĜ
¢ȱȱĴ

ȱȱȱ
¢
ȣȱ¢ ȣȱ
ȣȱ¢ȱ
Administration
ȣȱ¢ȱ ȣȱ ȣ Corporate

ȣ Corporate
ě
ȣȱ¢
Administration
ȣȱ

ȱȦȱ¡ȱĜ
Ȋȱȱ ȱȱ¢Ȃȱ¢ȱ
Ȋȱȱ ȱęȱȱȱ¢ȬȱĴ
ȱȱĜ
Ȋȱȱ ȱȱ¢Ȃȱ¢ȱȱȱȱȦ
Ȋȱȱ ȱȱȱȱȱȱ¢ȱǰȱȱȱ
Ȋȱȱ ȱȱ¢ȱȱȱȱ¢ȱȱȦ
¢ȱȱĴ
Ȋȱ ȱȱȱ¢ȱȱȱȱȱȱȱȱĜ
Ȋȱ ȱ¢ȱȱȱȱ¢ȱȱȱĜȱȬȱȱȱ¢
Ȋȱ ęȱȱ¢ȱĴȱȱȱȱ¢
102-18: Governance structure

102-32: Highest governance body’s role in sustainability reporting
105
ANNUAL REPORT 2019
Membership of Associations and Professional Bodies [102-13]

ȱȱȱȱ ȱȱǰȱ¢ȱȱȱȱ¢ȱȱȱȱ ȱȱȱ
ȱȱȱęǯȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱȱȱǻǼǰȱ
ȱȱȱ¢ȱȱǻǼǰȱȱȱ¢ȱȱ¢ȱȱȱ¢ȱȂȱǯ
Stakeholder Engagement [102-40, 102-43, 102-44]

ȱȱȱȱȱȱȱȱǯȱȱȱȱĴȱȱȱȱȱȱěȱȱǰȱ ȱ
ȱ¢ȱ ȱȱȱȱȱǯȱ¢ȱȱȱȱȱȱȱȱȱ
ȱǰȱ ȱȱȱȱȱȱȱȱ¡ȱȱȱȱȱȱȱȱȱȱ
ȱǯ
Frequency of
Stakeholders Areas of Interest Forms of Engagement Engagement
Customers/Consumers ȱǰȱ¢ȱ Ȋȱ ȱȱ ¢

¢ȱǰȱ Ȋȱ Ȧȱ ¢
¢ȱȱȱ
Ȋȱ ȱ ¢
ȱ¢
Ȋȱ ȱ¢ ¢
Ȋȱ Ȧȱ ¢
Ȋȱ ȱ ¢
ers
Shareholders ȱęȱ Ȋȱ ȱȱȱ ¢
/Investors ǰȱȱ Ȋȱ ¢Ȃȱȱȱęȱ ¢
¢ȱȱ
Ȋȱ ȱȱȱ ¢
ppliers
Suppliers ȱ¢ǰȱȱ ȱ ¢ȬȬ¢ȱ
ǰȱ¢ȱǰȱ
ȱȱȱȱ Ȋȱ ȱ¢ȱȱ ȱę ȱ¢
Ȧȱ¢ Ȋȱ ȱȦ ¢
Ȋȱ ȱ One time
mployees
Employees ȱǰȱ Ȋȱ ¢ȱ¢ ¢
ȱǰȱ Ȋȱ Ȧ ¢
ȱǰȱ
Ȋȱ ȱ ¢
ȱǰȱ
¢ȱ¢ǰȱ¢ȱ Ȋȱ Ȭ ȱ ȱ¢
ǰȱȱȱȱ Ȋȱ ¢
safety Ȋȱ ȱ¢ȱ¢ȱȱǻǼȱ ¢
Ȧ
Regulatory Agencies ǰȱ Ȋȱ ȱ¢ȱ¢ȱȱ ¢

ry
and Statutory environmental emissions ǻǰȱ
ǰȱ
ǰȱ Ǽ
Bodies ȱǰȱ¢ȱ Ȋȱ ȱȱ ȱȦȱ
ǰȱȱȱ ¢

and health issues
Local Communities/ ¢ȱǰȱȱ Ȋȱ ȱ ȱȱ ȱ¢

Ȭęȱ and nutrition issues residents
(NPO)/
Ȋȱ ȱȱȱ¢ȱ ¢
Academic
ȱ
Institution
102-13: Membership of associations

102-40: List of stakeholder groups
102-43: Approach to stakeholder engagement
102-44: Key topics and concerns raised
106
ANNUAL REPORT 2019
OUR MATERIAL SUSTAINABILITY MATTERS
Materiality Matrix [102-47]

¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ¢ǰȱ ȱ ęǰȱ ȱ ȱ ȱ ŗŘȱ ȱ ¢ȱ Ĵȱ ȱ ȱ
ȱ ȱ ȱ ȱ ¢ȱ ȱ Ĵǯȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ¡ȱ ȱ
ȱȱȱȱȱȱĴȱȱȱ¢Ȃȱȱȱ ȱȱȱǯȱȱ¢ȱ ȱȱȱ
ȱȱ¢ȱ¡ȱȱȱȱȱȱȱ¢Ȃȱǯ
Critical
Product Responsibility and

Safety
Occupational Safety & Health
Importance to Stakeholders
Employee Advancement and

Development
Community Relations
& Contributions
Anti-Corruption
Human Rights
Energy Consumption & Reduction
High
Waste Management
Workplace Diversity &
Water Consumption Equal Opportunity
and Conservation
Effluent Treatment
Ozone Depleting
Moderate
Substances (”ODS”)
Moderate High Critical
Importance to Business
Our Environment Our Consumer
Our Community Our People
Fair Operating Practices
102-47: List of material topics
107
ANNUAL REPORT 2019
OUR MATERIAL SUSTAINABILITY MATTERS (cont’d.)
ȱȱȱ¢ȱĴ
ȱ ȱǻŗŘǼȱȱ¢ȱĴȱȱȱȱȱȱȱȱęȱǻśǼȱȱǰȱ¢ǰȱȱǰȱ
ȱǰȱȱǰȱȱȱȱȱȱ¢ǯȱȱȱȱȬǰȱȱȱ ȱȱ
ȱĴȱȱȱȱȱǻǼǰȱ ȱȱȱȱ¡ȱǻŜǼȱ ȱȱȱȱǱȬ
1. Product Responsibility and Safety 2. Occupational Safety and Health

Our commitment towards 21st-century Issues of Human Ensuring safe and conducive working environment by
Society through “health and well-being” encompasses our operating our business according to occupational safety
commitment to product responsibility and safety. and health regulations.
GRI disclosures covered: GRI disclosures covered:
ȱ ȱǰȱȱ
ȱȱ¢ǰȱ ȱ
ȱȱ¢
ȱȱ Relevant stakeholder groups:
Relevant stakeholder groups: ¢ǰȱ¢ȱȱȱ¢ȱ
Ȧǰȱ Relevant SDG:
Relevant SDG:
3. Community Relations 4. Anti-corruption

and Contributions
AMB prohibits any forms of corruption in our operation
ȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ Ĵȱ ȱ
that could negatively impact our company’s performances
supporting and contributing to communities’ development
and reputation. Thus, we introduced our Anti-Corruption
while maximising the creation of our shared value in our
Policy to guide ethical business practices in the company.
businesses.
ȱ Ȭ
Relevant stakeholder groups: Relevant stakeholder groups:
ȱȦȬęȱȱǻȃNPO”ǼȦ Ȧǰȱ¢ǰȱǰȱ
ȱ ¢ȱȱȱ¢ȱ
Relevant SDG: Relevant SDG:
5. Human Rights 6. Employee Advancement

& Development
Human rights is part of our commitment in the Ajinomoto We continuously invest in our employees’ development to
Group Policies (“AGP”) and this ensures our compliance to equip them with the right knowledge and competency.
international human rights laws and regulations.

ȱȱ ȱȱ
¢ ¢
Relevant SDG: Relevant SDG:
108
ANNUAL REPORT 2019
OUR MATERIAL SUSTAINABILITY MATTERS (cont’d.)
7. Energy Consumption and Reduction 8. Waste Management

ȱȱĴȱȱȱȱȱĜ¢ȱȱ We strive to continuously reduce our waste generation to
sustainably to minimise environmental impact. minimise environmental impact.
¢ǰȱ ĝȱȱ
¢ȱȱȱ¢ȱ ¢ȱȱȱ¢ȱǰȱȱ
Relevant SDG: ȦȦȱ
Relevant SDG:
9. Workplace Diversity and 10. Water Consumption and Conservation

Equal Opportunity
AMB promotes equal opportunity and diversity in its Initiatives implemented as part of our rationalisation
workplace. We practise fair treatment across gender, process assist in reducing our water consumption.
¢ȱ ȱ ǯȱ ȱ ȱ ȱ ęȱ
packages to build loyalty to AMB. GRI disclosures covered:
GRI disclosures covered: ȱȱĝǰȱĝȱȱ
¢ǰȱ¢ȱȱȱ¢ Relevant stakeholder groups:
Relevant stakeholder groups: ¢ȱȱȱ¢ȱ
¢ Relevant SDG:
Relevant SDG:
ŗŗǯȱ ĝȱ 12. Ozone Depleting Substances (“ODS”)

ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ĝȱ ȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
are adhering to the Environmental Quality (Industrial policy prohibiting the use of any ODS in our operations.
ĝǼȱ ǰȱ ŘŖŖşȱ ¢ȱ ȱ ȱ ȱ
ĝȱȱ¢ǯ
ȱȱĝǰȱĝȱȱ
¢ȱȱȱ¢ȱ ¢ȱȱȱ
Relevant SDG: ¢ȱ
Relevant SDG:
109
ANNUAL REPORT 2019
OUR RESPONSIBILITY TO CONTINUE

IMPROVING BUSINESS OPERATIONS
ȱęȱȂȱȱȱ¢ȱȱȱǰȱ ȱȱ¢ȱȱȱȱȱȱȱ¢ȱ
ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
¢ǰȱ¢ǰȱ¢ȱȱȱȱǰȱȱȱȱȱȱ¢ǯȱ
Anti-Corruption [205-1, 205-2]
ȱȱȱȱ¢ȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȭȱ
ǰȱ ȱȱȱȱ¢Ȃȱǯȱ
ȱ ȱ¢ȱȱȱȂȱȱȱȱȱȱȱĚȱȱȱȱ¢ȱȱȱȱȱ
ǰȱȱȱȱȱȱȱȱȱȱȱȱȱ¢ǯȱȱ ȱ¢ȱ ȱȱȱ
ȱȱȱȱȱȱȱ¢ȱȱȱȱȱȱ¢ȱǰȱǰȱȱȱȱȱ
ȱ ȱěȱ¢ȱǯȱȱȱǰȱ ȱȱȱȱȱȱȱȱȱ¢ȱ
ȱ ȱȱȱȱǯȱȱęȱȱȱȱȱȱȱȱȱȱȱȱ
ǯ
205-1: Operations assessed for risk related to corruption

205-2: Communication and training about anti-corruption policies and procedures
110
ANNUAL REPORT 2019

MINIMISING ENVIRONMENTAL FOOTPRINT
ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱǯȱȱȱȱ
¢ȱ ȱ ȱ £ǰȱ ȱ ȱ Ĵȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ
ǰȱȱȱȱĝǰȱȱ ȱȱǰȱ¢ȱȱ ȱȱ
ȱȱȱȱȱȱǯȱȱȱȱĴȱȱ¢ȱ ȱȱȱȱȱȱ ȱ
ȱȱ ȱȱȱȱȱȱȱ¢ǯȱ
ȱȱȱȱǰȱȱȱ ȱȱȱȱǻȃAGZEPȄǼȱȱřŗȱȱŘŖŗŞȱȬȱȱřŗȱȱŘŖŘŖȱ ȱ
ȱȬȱ ȱȱǯȱȱȱ ȱȱȱ ȱǰȱ ȱȱȱ ¢ȱȱȱ
ǻȃKPIsȄǼȱȱȱřŗȱȱŘŖŗŝǯ
ȱęȱȱȱŗŚŖŖŗǱŘŖŗśȱȱȱ¢ȱȱȱȱȱȱ¢ȱȱȱȱȱ
ȱȱ ȱ¢ȱȱȱȱȱȱǯȱ
ȱȱǰȱ ȱȱȱȱȱȱȱȱȱȱȱ ȱȱȱřŗȱȱŘŖŗşǯ
Energy Consumption and Reduction [302-1, 302-4]
ȱȱȱȱ¢ȱȱȱȱȱȱȱ¢ȱȱȱǯȱȱ¢ȱȱȱȱȱ
¢ȱȱȱȱȱȱȱǯȱȱȱřŗȱȱŘŖŗşǰȱȱȱȱȱǰȱ ȱ¢ȱȱ
ȱ¢ȱȱ ȱȱȱȱȱ¢ȱȱ¢Ȭȱȱȱ¢ȱ
¢ȱǯȱȱȱ ȱȱȱ¢ȱȱȱȱ ȱȱȱ¢ȱȱǯȱ
ȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱȱȱȱȱȱȱȱ¢ȱȱȱȱȱřƖȱȱ
¢ȱǯȱȱȱ ȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱȱȱȱ
ȱȬȱȱȱȱȱǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ

Fuel Consumption ȱ ȱ ȱ ǰȱ
ȱ ȱ ȱ ȱ ȱ
m3/T-Product ȱ ȱ ȱ řŗȱ ȱ ŘŖŗŝǯȱ
0.20 ȱ ȱ ȱ ȱ ȱ
-1 %
ȱ ȱ ȱ ȱ ȱ
0.19 řŗȱ ȱ ŘŖŗşȱ ȱ Ŗǯŗŝşȱ řȱ
versus
ȱ ȱ ȱ ȱ ȱ
0.195 FY 31 March 2018 ȱ ȱ ȱ ȱ ŗƖȱ ȱ
0.18
ȱ ȱ ȱ ȱ
0.181 0.179 ȱ ȱ ȱ ¢ǯȱ ȱ
0.17
ȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱ ¢ȱ
0.16 Ĝ¢ȱǯ
FY 31 March 2017 FY 31 March 2018 FY 31 March 2019
302-1: Energy consumption within the organization

302-4: Reduction of energy consumption
111
ANNUAL REPORT 2019
OUR RESPONSIBILITY TO CONTINUE MINIMISING

ENVIRONMENTAL FOOTPRINT (cont’d.)
Waste Management [306-2]

YCL E
REC
CE
REUS
DU
RE E
ȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱ
ȱȱȱȱȱǯȱȱȱȱȱȱȱ ȱȱȱęȱ ȱ
ȱȱȱ ȱ ȱȱǯ
Ȃȱȱ¢ȱȱ ȱȱȱ ȱȱĴȱȱȱŚȱ RECOVERY
ȱȱǰȱǰȱ¢ȱȱ¢ǯȱȱ¢ȱȱȱȱȱȱ
ȱȱȱ¢ȱȱ ȱȱȱȱęǯ
ȱȱȱ¢ǰȱ ȱ¢ȱȱȱ ȱ¢ȱȱȱȱǯȱȱȱ ȱȱ¢Ȭȱȱ
ȱȱȱȱȱ ȱȱȱȱȱȱǻȃAWCȄǼǯȱȬȱȱ ȱȱȱ
ǰȱǰȱ ȱǰȱȱȱȱǯȱȱ ȱȱȱȱ ȱȱȱ ȱȱȱ
ǯȱȱȱȱ ȱ¢ȱȱȱ¢ȱ ȱȱȱȱ ȱȱȱȱȬ¢ȱȱȱ
ȱȱęǯȱȱȱ¢Ȭȱȱȱȱ£ȱȱȱȱȱȱ ȱǯȱ
ȱ ȱ řŗȱ ȱ ŘŖŗşǰȱ ȱ ȱ ȱ

Waste Recovery Rate ȱ ȱ ŗǰŝřŘȱ ǯȱ ȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ
+14%
% ¢ȱȱȱ¢ȱȱęȱ
100 ŗŚƖȱȱŞŘƖȱȱȱřŗȱȱŘŖŗşȱȱȱ
versus ŜŞƖȱȱȱȱřŗȱȱŘŖŗŞǯȱ¢ȱ
FY 31 March 2018
80 ŗŞƖȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
řŗȱȱŘŖŗşȱ ȱȱȱȱ
60 ęȱǯȱ
82
68
40
32
20
306-2: Waste by type and disposal method
112
ANNUAL REPORT 2019

ĝȱ [306-1]
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯȱȱȱȱȱȱȱ ǰȱȱȱȱȱ¢ȱ Method of Treatment
ȱȱȱȱȱȱȱȱ¢ȱȱȱ
ȱ ȱ ǻȃETPȄǼǯȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Primary: Biological Treatment
ȱ¢ǰȱ¢ȱȱ¢ȱȱȱǯȱ
ȱȱȱȱ¢ȱȱ¢ȱȱȱȱȱ¡¢ȱ Secondary: Chemical Treatment

ȱ ǻǼǰȱ ȱ ¡¢ȱ ȱ ǻȃBODȄǼȱ ȱ ȱ ȱ
ǻȃTNȄǼȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǯ Tertiary: Carbon Tower
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŗŖȱ Ȧȱ ȱ śȱ Ȧǰȱ ¢ȱ ȱ
ȱȱǯȱȱȱȱȱǻřǼȱȱ¢ǰȱ ȱȱ¢ȱȱȱǯȱȱȱȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǻȱ Ǽȱ
ǰȱŘŖŖşȱ ȱȱȱ¢ȱȱȱȱȱǻȃDOEȄǼǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ

ȱĝȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ŗŜŜǰřŝŞȱ řǰȱ ȱ ȱ ȱ ȱ
m3/T-Product ȱ ŗŜŗǰśŗşȱ řȱ ȱ ȱ ȱ ¢ǯȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ
5.4 ȱ ȱ ȱ ȱ řŗȱ ȱ ŘŖŗşǯȱ
5.3

ǰȱ ȱȱȱȱȱȱȱ
- 4%
ȱ ȱ ȱ ȱ ȱ ȱ
5.2 ȱȱȱ ȱȱȱȱ¢ȱ
5.1 5.3 versus ǻȱřŗȱȱŘŖŗŞǼȱ¢ȱŚƖȱȱȱȱȱȱ
FY 31 March 2018 ȱȱǯȱ
5.0 5.1
4.9
4.9
4.8
306-1: Water discharge by quality and destination
113
ANNUAL REPORT 2019

Water Consumption and Conservation [303-5]
ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ Ȧȱ ȱ
ȱȱȱǯ
ȱ ȱ ¢ȱ ȱ ȱ

ȱȱȱřŗȱȱŘŖŗşǯȱȱȱ
ȱȱ¢ȱȱ
Water Consumption
ȱ ȱ ȱ ȱ ȱ ȱ
ȱ ¢ȱ ŗśƖȱ ȱ ȱ řŗȱ ȱ ŘŖŗşȱ
m3/T-Product
ȱȱȱȱęȱ¢ǯȱ
-15%
ȱ ȱ ȱ ȱ ȱ ȱ ȱ 9.0
ȱ ȱ ȱ ȱ ȱ ȱ
8.5
ȱǰȱȱȱȱȱ ȱȱȱ versus
ȱ ȱ Ȭȱ ȱ ȱ 8.0 FY 31 March 2018
8.7
ȱȱȱȱĚȱ ȱȱ 7.5 8.4
ȱȱȱȱ¢ȱ
7.0
ǯ
7.1
6.5
6.0
Ozone Depleting Substances [305-6]
ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȃȱ
ȱ £ȱ ¢ȱ ȱ ¢ȱ ȱ Ěȱ ǻȃCFCs”Ǽǰȱ ȱ ȱ ǻŚǼǰȱ ¢Ěȱ
ǻ
Ǽǰȱ ¢Ěȱ ǻȃHCFCs”Ǽǰȱ ¢ȱ ȱ ǻ
řǼȱ ȱ ȱ ǻ
ŘǼǯȱ ȱ ȱ ȱ
ȱ£ȱ¢ȱȱȱȱ¢ȱȱȱȂȱȱȱȱ ǰȱȱȱȱȱȱ
ȱ¢ȱȱȱ¢ǯ
ȱȱ ȱȱȱȱȱ ȱŘŖŗŝȬŘŖŗşǰȱȱȱȱȱȱȱȱȱǰȱ
ǰȱȱ¢Ěȱ
ǻ
ǼȱȱȱǯȱȱȱĴȱȱȱ¢ȱ¡ȱȱ ȱȱȱǻȬŗřŚȱȱȬŚŗŖǼȱ ȱ
ȱȱȱȱ£ȱ¢ǯ
303-5: Water consumption

305-6: Emission of ozone-depleting substances (ODS)
114
ANNUAL REPORT 2019

ENHANCING SOCIAL PRACTICES
Product Responsibility and Safety [416-1]
ȱȱȱȱȱěȱ¢ȱȬȱȱȱȱȱȱȱǯȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱȱĴȱȱǯȱȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱȱȱ
ȱȱ¢ȱȱȱĴǱȱȃȱǰȱȱȄǯȱ
ȱȱȱȱ¢Ȃȱ¢ȱȱȱ¢ȱ¢ǰȱȱȱĴȱȱȱȱȱȱ¢ȱ ȱȱȱ
ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ǰȱ ȱȱȱȱȱȱȱ¢ǯȱȱȱ ȱȱ¢ȱȱȱ¢ȱȱ
ȱęȱȱ ȱȱǯȱ
ȱȱȱ¢ȱȱȱęǰȱȱȱȱȱȱȱȱ¢ȱȱȱęȱǯ
ȱȱęȱȱ ȱ ęȱ¢ȱ
ȱȱ
ȱęȱȱ
ȱȱȱşŖŖŗǱŘŖŗśȱ¢ȱȱ¢ȱȱ ȱȱȱǯȱǯȱ
ȱȱȱŗŚŞŖǱŘŖŖŝȱ
£ȱ¢ȱȱȱȱȱȱ ¢ȱȱ
ȱ¢ȱȱ
ȱȱȱȱȃȱȱ ȱȱǻǼȱ ¢ȱȱ

ȱ¢ȱȱ
ȱȱ ȱȱȱǻ Ǽȱ ¢ȱȱ

ȱ¢ȱȱ
ȱȱ¢ȱȱȱȱȱ ȱȱ¢ȱȱ¢ȱ
Customer Satisfaction [102-43]

ȱȱȱȱ¢ȱȱȱȱ¢ȱȱęȱȱȱȱȱȱȱǯȱȱȱȱȱ
ȱ ȱ ȱ ȱ ȱ ȱ ¡ǰȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱ ǰȱ ¢ȱ ȱ
ȱȱǯ
ȱǰȱ ȱȱȱȱȱȱ¢ȱȱȱȱȱȱŗşŖşȱȱȱȱȱ¢ȱ
ȱǯȱȱȱȱȱȱȱ ȱȱȱȱ¢ǰȱȱ¢ȱȱȱȱǰȱ
ȱ¢ȱȱȱȱ ȱȱȱȱȱȱşŖƖǯ
416-1: Assessment of the health and safety impacts of product and service categories
102-43: Approach to stakeholder engagement
115
ANNUAL REPORT 2019

ENHANCING SOCIAL PRACTICES (cont’d.)
Community Relations and Contributions [413-1]
ȱȱȱȱȱȱȱȱȬȱ¢ȱȱ¢ȱȱȱȱȱȱȱȱ
Ȭȱȱȱȱȱ¢ȱ¢ǯȱǰȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱ
ȱȱȱȱ¢ȱ¢ȱȱ¢ȱȱǯȱȱȱȱȱȱ ȱȱǰȱȱȱĴȱ
ȱȱȱȱȱȱȱ¢ȱȱǯ
ȱȱȱȱȱȱȱȱȱȱȱ¢ǰȱȱȱȱȱǻřǼȱǱȱǰȱǰȱȱȬ
ȱǯȱȱȱȱ¢ǰȱ ȱȱȱȱȱȱȱǻřǼȱ¢ȱȱ ȱȱȱȱ
ȱȱȱȱȱ ȱȱ¢ȱȱǯ
Promoting Healthy Living Through “Campur, Campur, Siap!” Campaign

ȱǰȱȱȱ ȱǻŘǼȱ¢ȱǻ¢ȱȬȱȱŘŖŗŞȱȱ¢ȱȬȱȱŘŖŗşǼǰȱȱȱȱȱȱȱȱ
ȱȱȱ¢ǯȱȱȱǰȱǰȱǰȱȱȱȱǰȱǻȱ¡ǰȃ¢ȱȱ
ȄǼȱ ȱǰȱ¢ȱ ȱ¢ȱ ȱȱȱȱȱȱ¢ȱȱȱȱǯȱȱȱ
ȱȱǰȱȱȱȱȱȱ ȱȱȱȱȱȱȱȬȱȱŘŖŗŞȱȱ¢Ȭȱ
ŘŖŗşȱȱȱ ȱ¢ȱȱȱȱǯȱȱȱȱȱȱȱ ȱȱȱǰȱ
ȱȱȱȱǰȱȱȱȱĚǰȱȱȱȱȱȱȱȱȱǯ
Social Media Videos
413-1: Operations with local community engagement, impact assessments, and development programs
116
ANNUAL REPORT 2019

ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢Ȧȱ ȱ ȱ ȱ ǻProgram Perumahan
Rakyat, PPRǼǰȱ ȱȱȱȱȱȱȱǯȱ
Housewives and kids enjoying sampling Cooking demo and Fun Cooking by housewives Display Campaign
(Sayur Labu Campur)
SERI-AJI® Sahur Campaign

ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ȱȱȱȱǯȱȱȬȱȱ ȱ ȱȱȱȱȱȱŘŖŗŞȱȱȱȱǰȱȬ
ȱǰȱȱȱ ȱȱȱǯȱ
117
ANNUAL REPORT 2019

Healthy Plate Promotion in Secondary School Project

¢ȱȱȱȱȱȱȱȱȱ¢ǰȱ ȱȱȱȱȱ¢ȱȱǯȱȱȱȱȱ
ěȱȱȱ¢Ȃȱȱǰȱȱȱȱȱȃ
¢ȱȱȄȱȱ¢ȱȱ¢ȱȱ
ȱ
¢ǰȱȱȱȱȱȱȱ¢ȱȱǰȱ ȱ ȱȱȱ¢ȱȱ¡ȱ
ȱȱȱȱȱ Ȭȱǯȱȱ¢ȱȱȱ¡ȱȱȱȱȱȱȱȱ¢ȱ
ǰȱȱȱȱȱȱȱǻȱśthȱȱǼȱȱȱ¢ȱǯȱȱȱŞŖȱȱ ȱ
ȱȱȱȱ ȱĴȱȱȱȱŗŜǰŖŖŖȱ¢ȱȱȱȱǯ
Other Community Programmes

Ȋȱ ęȱȱǭȱ¡
ȱ ȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱęȱȱǭȱ¡ȱȱ¢ȱȱ¢ȱȂȱǰȱ
ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ
ȱ ¢ǯȱ ȱ ȱ ǰȱ ȱ ȱ ȱ
ȱȱ ȱȦȱȱȱȱȬȱǯȱȱ¡ȱ ȱ¢ȱ ȱȱ ȱȱ
ȱ ȱ şŚƖȱ ȱ ȱ Ĵȱ ȱ ǰȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱȱȱ¢ǯ
Ȋȱ ¢ȱ¢ȱȱ

ȱ řŗȱ ȱ ŘŖŗşǰȱ ȱ ȱ
ęȱ ǻśǼȱ ȱ ȱ Ĵȱ
¢ȱ řŘśȱ ¢ȱ ȱ ȱ
ǰȱ ¢ȱ ¢ȱ ǰȱ
ȱ ȱ ǰȱ ȱ
ȱ ȱ ȱ ¢Ȃȱ
¢ȱ ǯȱ ȱ ȱ
ȱȱȱȱȱ
ȱ ȱ śȱ ȱ ȱ ȱ ȱ
ȱ ȱ ȱ ¢ȱ
ȱǻ ȱȱǼȱǯ
Ȋȱ
Ȭȱȱȱ
ȱ ȱ ȱ Ȭ¢ȱ Ȭȱ ȱ ȱ ȱ ŗŜŖȱ

ȱ ȱȱȱȱȱȱȱ£ȱ
ȱ ȱ ǰȱ ǰȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ
ȱ ȱȱǯȱȱȱȱȱȱ ȱȃ¢ȱ

¢ȱȄǰȱȃȱȱ¡Ȅȱȱȃȱȱȱ
ȱȱȱ¢Ȅǯ
118
ANNUAL REPORT 2019

Occupational Safety and Health [403-1, 403-2, 403-4, 403-5, 403-9,]
ȱȱȱȱȱȱ ȱǰȱȱ¢ȱ ȱȱȱȱ¢ȱȱȱ ȱȱ ȱ
ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ
ȱ Ĵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱǯȱȱȱȱȱĴȱȱȱȱȱȱ¢ȱ ȱȱȱȱ¢ǰȱȱȱ
¢ȱȱȱȱȱȱȱȱěȱȱȱ¢ȱȱȱǯȱȱĴȱȱ¢ȱ
ȱ¢ȱȱȱȱȱȱȬȱȱ ȱȱȱȱȱȱ¢ȱęǯ
ȱȱęȱȱȱ
ȱŗŞŖŖŗǱŘŖŖŝȱęȱ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱ
ȱȱȱȱȱȱȱǯȱȱȱ ȱ¢ǰȱ ȱȱȱȱȱ
ȱŗŞŖŖŗǱŘŖŖŝȱȱȱ
ŚśŖŖŗǱŘŖŗŞȱ ȱȱȱȱȱȱȱȱ¢ȱȱ¢ǯ
ȱȱȱȱ
ȱŗŞŖŖŗǱŘŖŖŝǰȱ ȱȱ
£ȱęǰȱȱȱȱȱȱǻȃHIRADCȄǼȱ
ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ
ȱȱ¢ȱȱǯȱȱ
ȱȱȱȱȱȱȂȱȱȱȱǯ
ȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱǻřǼȱȱǰȱȱȱȱȱȱęȱ¢ȱȱ ȱȱǻŚǼȱȱ
ȱǯȱȱȱȱȱ ȱȱȱȱȱȱȱȱȱȱȱǯȱȱ
ȱȱȱȱȱ ȱǰȱ ȱȱȱȱȱ¢ȱȱ¢ȱȱȱĴǰȱȱȱ
ȱȱȱȱȱŚśŖŖŗǰȱȱȱǰȱȱ ǰȱȱ ǰȱȱȱȱ¢ȱ
ǰȱȱǯȱȱ¢ǰȱ ȱȱȱȱȱ¢ȱȱȱȱȱȱȱ¢ǯ
Human Rights [412-2]
ȱȱȱȱǻŗǼȱȱȱȱǻŗŗǼȱȱȱȱȱ ǯȱȱȱ ȱȱȱȱ

ȱȱȱǱ
Ȋȱ ȱȱȱ
ȱ
Ȋȱ ȱȱȱȱȱȱȱȱȱȱȱȱȱ Ȭ
Ȋȱ ȱȱ ȱ
ȱȱȱȱȱ ȱȱȱȱȱ
ȱǰȱȱȱȱȱ ȱȱȱȱȱȱ
ȱȱȱȱ¢ǰȱȱȱȱ¢ȱȱȱȱȱȱ¢ȱȱȱȱ
ȱȱȱȱȱȱȱ ȱ ȱǯ
ȱǰȱ ȱȱ ȱǻŘǼȱȱȱȱȱȱ ȱęȱ ȱȱȱȱȱȱȱǯȱȱȱ
ȱȱȱȱȱȱȱȱȱȱȱȱ¢ǯȱȱ ȱȱȱȱȱȱ
Ĵȱ¢ȱ¢ȱȱȱȱȱȱǯ
403-1: Occupational health and safety management system

ŚŖřȬŘǱȱ
£ȱęǰȱȱȱȱȱȱ
403-4: Worker participation, consultation and communication on occupational health and safety
403-5: Worker training on occupational health and safety
ŚŖřȬşǱȱȬȱ
412-2: Employee training on human rights policies or procedures
119
ANNUAL REPORT 2019

Employee Advancement and Development [404-1, 404-2]
ęȱȱȱ¢ȱȱȱȱȱ¢ȱȱȱȱȱȱȱȱȱ ȱ¢ǯȱ
ȱǰȱ ȱȱȱȱȱ Ȭȱ ȱ¢ȱ ȱȱ¢ǯȱȱȱȱȱȱȱȱ
ȱȱȱ ȱȱȱ¢ȱȱȱ¢ȱȱ ȱǯȱȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱ
ȱȱȱŘŘȱȱȱȱ¢ǯȱȱȱȱęȱȱȱȱ ȱȱȱȱŗŖȱȱ
ȱȱȱřŗȱȱŘŖŗŞǯȱ
ȱȱȱȱȱȱȱřŗȱȱŘŖŗşȱ ȱ ȱȱȱȱȱ Ȃȱȱȱȱȱ
ǰȱ¢ȱȱȱȱȱȱȱȱȱ¢ȱȱ
ȱǰȱ
ǰȱ
ȱ ǰȱȱ
¢ȱǰȱȱȱȱȱǰȱȱȱȱȱȱ ǰȱȱȱ¢ǰȱȱǯȱ
Workplace Diversity and Equal Opportunity [405-1]
ȱ ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ
ȱȱ ȱ ȱěȱȱǰȱǰȱ¢ȱȱǯȱȱȱȱ¢ȱȱęȱȱȱȱ
¢ȱȱȱ¢ȱ¢ȱȱȱȱǰȱȱȱȱȱǰȱȱǯȱ
Employee Distribution by Employment Type

5%
ȱ ȱ ȱ ȱ ȱ řŗȱ ȱ ŘŖŗşȱ ȱ Ŝśŗȱ ȱ ȱ Ȭ
¡ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ 26%
ȱ ȱ ȱ ȱ ǯȱ ŞŚƖȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ȱȱŗŜƖȱȱȱ¢ȱǯȱȱȱřŗȱȱŘŖŗşȱ
ȱ ȱ ȱ ¢ȱ ŖǯŜƖȱ ȱ ŜǯŚƖȱ ȱ ȱ ŝƖȱ ȱ ȱ 69%
ȱřŗȱȱŘŖŗŞǯ
Management Executive Non-Executive
404-1: Average hours of training per year per employee

404-2: Programs for upgrading employee skills and transition assistance programs
405-1: Diversity of governance bodies and employees
120
ANNUAL REPORT 2019

Employee Distribution by Gender

34%
Our trend in employee distribution in terms of gender and age

ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ řŗȱ ȱ ŘŖŗŞȱ ȱ ȱ řŗȱ
ȱ ŘŖŗşǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱȱ
ȱǯ
66%
Male Female
Employee Distribution by Age

10%
ȱ ȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ řŖȱ ȱ śŖȱ ¢ȱ
ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ȱ 31%
¡ȱȱȱ ǯȱȱȱȱȱȱȱȱȱ
ȱȱȱȱěȱȱȱřŖȱ¢ȱȱȱ ȱ
ǯȱȱȱȱȱȱȱȱȱȱȱȱ
ȱ¢ȱȱȱȱ ȱ¡ȱȱȱȱ¢ǯ
59%
<30 years 30 – 50 years >50 years
CONCLUSION
¢ȱȱȱȱȱȱȱǯȱȱȱȱ¢ǰȱ ȱ ȱȱȱȱ¢ȱȱȱ
ȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱȱȱȱȱǰȱȱ
¢ȱ ¢ǰȱ ¡ȱ Ȃȱ ǰȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ
ǯȱȱěȱ ȱȱȱȱȱȱȱȱȱȬȱȱȱǯȱ
121
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CDS Account No.
Number of
ordinary shares held
*I/We (full name),
bearing *N No./Passport No./Company No.
of (full address)
being a *shareholder/shareholders of Ajinomoto (laysia) Berhad (“the Company”) hereby appoint :-
First Proxy “A”
Full Name N/ Passport No Proportion of

Shareholdings epresented
No. of Shares %
Full Address
and/or failing *him/her,

First Proxy “B”
Full Name N/ Passport No Proportion of

Shareholdings epresented
No. of Shares %
Full Address
100%
ȱȱȘȦǰȱȱȘȱȱȱȱȱȘ¢Ȧȱ¡¢ȱȱȱȱȘȦȱȱȱȘ¢Ȧȱȱȱȱ¢Ȭȱȱ ȱȱȱ
ȱ¢ȱȱȱȱȱȱȱ ȱǭȱ¢ȱǰȱȱřȦŗśśǰȱȱǰȱśŝŖŖŖȱ ȱȱȱ¢ǰȱŘŜȱȱŘŖŗşȱȱŗŖǱŖŖȱǯǯȱȱȱ
any adjournment thereof.
ȱȱ ȱȱȃȄȱȱȱȱȱ ȱȱȱ ȱ¢ȱ ȱ¢ȱȱȱȱǯȱȱȱęȱȱȱȱȱȱǰȱȱ¡¢ȱ
will vote or abstain from voting at *his/her discretion.
No. Agenda
1. ȱȱȱȱȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşȱȱ ȱȱȱȱȱȱȱȱȱǯ
Resolution For Against
2. ȱȱȱęȱȱęȱȬȱȱȱŚŝǯŖȱȱȱ¢ȱȱȱȱęȱ¢ȱȱ 1
řŗȱȱŘŖŗşǯ
řǯ ȱȱȱ¢ȱȱȂȱȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǯ 2
4. ȱȱȱ¢ȱȱȂȱęȱȱȱȱȱȱŜśŖǰŖŖŖȱȱŘŝȱȱŘŖŗşȱȱ ř
ȱ¡ȱȱ ȱȱȱȱ¢ǯ
5. ȱȬȱǯȱȱȱ ȱȱȱȱȱ ȱȱŗŘŖȱȱȱ¢Ȃȱȱ 4
ȱȱȱȱǰȱȱěȱȱȱȬǯ
6. ȱȬȱȱ£ȱȱȱ ȱȱȱȱȱ ȱȱŗŘŖȱȱȱ¢Ȃȱ 5
ȱȱȱȱȱǰȱȱěȱȱȱȬǯ
7. ȱ Ȭȱ ȱ ȱ Ȃȱ ǻǯǼȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ŗŗŚȱ ȱ ȱ 6
¢ȂȱȱȱȱȱȱǰȱȱěȱȱȱȬǯ
8. ȱȬȱǯȱȱȱ ȱȱȱȱȱ ȱȱŗŗŚȱȱȱ¢Ȃȱȱ 7
ȱȱȱȱǰȱȱěȱȱȱȬǯ
9. ȱȬȱǯȱ ¢ȱ ȱȱ ȱȱȱȱȱ ȱȱŗŗŚȱȱȱ¢ȇȱȱȱ 8
ȱȱȱǰȱȱěȱȱȱȬǯ
10. ȱȱǯȱȱǭȱȱȱȱȱȱ¢ȱȱȱȱȱȱǰȱǯȱ 9

ęȱȱǭȱȱȱȱȱ¢ȱȱȱȱȱȱȱę¡ȱȱǯ
Special Business
11. Ordinary Resolution No. 1 : 10
Authority to Issue Shares pursuant to the Companies Act 2016
ȱ ȱ ȱ ¡ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ
ȱȱȱ
ŗřǯ Ordinary Resolution No. 3 : 12
ȱȱ ȱȱȱǻǯǼȱȂȱȱȱ
ȱȱǯȱȱǻǼȱȱȱȱ

14. Ordinary Resolution No. 4 : ŗř
ȱȱȱȱȂȱǻǯǼȱȱȱȱȱȱȱ
ȱȱǯȱ ¢ȱ ȱȱȱȱȱ

ȱȱǯȱȱ ȱ Ȭȱȱȱȱ
ȱȱȂȱȱȱȱȱȱȱȱ
18. Special Resolution: 17
Proposed Adoption of a new Constitution of the Company
As witness my/our hand(s) this day of 2019.
* Strike out whichever not applicable *Signature/Common Seal of Shareholder

Notes :-
1. In respect of deposited securities, only members/shareholders whose names appear in the Record of Depositors on 19 August 2019 (“General
Meeting Record of Depositors”) shall be eligible to attend the Meeting.
2. A member of the Company shall be entitled to appoint another person as his proxy to exercise all or any of his rights to attend, participate, speak and
vote at a meeting of members of the Company. There shall be no restriction as to the qualification of the proxy.
3. In the case of a Company having a share capital, a member may appoint up to two (2) proxies for the Meeting, provided that the member specifies
the proportion of the member’s shareholdings to be represented by each proxy.
4. The instrument appointing proxy shall be in print or writing under the hand of the member/shareholder or his duly constituted attorney, or in the
case of a corporate member/shareholder, under its common seal or under the hand of its officer or attorney duly authorised. The instrument
appointing a proxy shall be deemed to confer authority to demand or join in demanding a poll.
5. Where a member/shareholder is an exempt authorised nominee as defined under the Securities Industry (Central Depositories) Act 1991 which
holds ordinary shares in the Company for multiple beneficial owners in one securities account (“omnibus account”), there is no limit to the number
of proxies which the exempt authorised nominee may appoint in respect of each omnibus account it holds.
6. The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that
power or authority shall be deposited at Securities Services (Holdings) Sdn. Bhd. of Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan not less than 48 hours before the time for holding the Meeting or
adjourned meeting at which the person named in the instrument proposes to vote, or, in the case of a poll, not less than 24 hours before the time
appointed for taking of the poll, and in default the instrument of proxy shall not be treated as valid.
The Company Secretaries
c/o Securities Services (Holdings) Sdn. Bhd.

Level 7, Menara Milenium, Jalan Damanlela,
Pusat Bandar Damansara, Damansara Heights,
50490, Kuala Lumpur, Wilayah Persekutuan
Lot 5710 Jalan Kuchai Lama, Petaling, 58200 Kuala Lumpur.
Tel : 603 7980 6958 Fax : 603 7981 1731
Website : www.ajinomoto.com.my

Annual Report: Ajinomoto (Malaysia) Berhad (4295-W)

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ANNUAL REPORT 2019

AJINOMOTO (MALAYSIA) BERHAD

3-8 Management Discussion and Analysis

15 - 26 Corporate Governance Statement

27 Additional Compliance Information

28 Statement of Directors’ Responsibility in Relation to

29 - 31 Statement on Risk Management and Internal Control

32 - 34 Audit Committee Report

92 - 99 Notice of Annual General Meeting

100 - 121 Sustainability Statement

BANKERS MUFG Bank (Malaysia) Berhad

AUDITORS Hanafiah Raslan & Mohamad

SOLICITORS Lee, Ling & Partners

SECRETARIES Chua Siew Chuan

Yeow Sze Min

SHARE REGISTRAR Securities Services (Holdings) Sdn Bhd

STOCK EXCHANGE Main Market of the Bursa Malaysia Securities Berhad

MANAGEMENT DISCUSSION & ANALYSIS

1963 1968 1978 1988 1992

2004 2003 2000 1998 1996 1994 1993

2005 2006 2008 2010 2011 2012 2014 2017 2019

Management Discussion & Analysis (cont’d.)

Management Discussion & Analysis (cont’d.)

Sales Branches & Overseas Market

The Company’s products are well-received by customers in many countries.

Management Discussion & Analysis (cont’d.)

Financial Year Ended 31 March 2019 Highlights

Revenue ęȱȱ¡ Total Assets

RM 447.7mil RM 72.7mil RM 533.3mil

Malaysia Consumer Business

Management Discussion & Analysis (cont’d.)

Management Discussion & Analysis (cont’d.)

(1) Risks Related to the Operating Environment (cont’d.)

(2) Risks Related to Business Activities

(3) Laws and Regulations, Litigation, etc.

General Tan Sri (Dr.) Dato’ Paduka

He holds a Diploma In Advance Business Management from the

He is the Chairman of Datasonic Group Berhad and Fusang Exchange

Director’s Proﬁle (cont’d.)

Tan Sri Dato’ (Dr.) Teo Chiang Liang

He was appointed as member of the MSC Education Advisory Panel in 1998. He is

Ms. Yamamoto graduated from Waseda University with a Bachelor Degree in

Director’s Proﬁle (cont’d.)

Mr. Koay was appointed to the Board of Ajinomoto (Malaysia) Berhad on 15

He holds a Master in Business Administration from University of Strathclyde,

Director’s Proﬁle (cont’d.)

Mr. Aw was appointed to the Board of Ajinomoto (Malaysia) Berhad on 10

He graduated with a Bachelor of Arts (Honours) degree from University Malaya

Director’s Proﬁle (cont’d.)

En. Kamarudin was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1

He joined the Technical Department of Ajinomoto (Malaysia) Berhad in 1987. Over

He graduated from the School of Commerce, Waseda University, Japan in March

Director’s Proﬁle (cont’d.)

Mr. Moriyama was appointed to the Board of Ajinomoto (Malaysia) Berhad on 1

Mr. Moriyama graduated from the School of Industrial Administration (Master

Azhan Bin Mohamed

En. Azhan was appointed to the Board of Ajinomoto (Malaysia) Berhad on 15

He joined the Production Department of Ajinomoto (Malaysia) Berhad in February

PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS

ŗǯŖȱ Ȃȱȱȱȱȱ 

Corporate Governance Overview Statement (cont’d.)

PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS (cont’d.)

ŗǯŖȱ Ȃȱȱȱȱȱ ȱǻȂǯǼ

Revenue ęȱȱ¡ Total Assets

ŗǯŖȱ Ȃȱȱȱȱȱ

ŗǯŖȱ Ȃȱȱȱȱȱ ȱǻȂǯǼ

¢ȱ ȱȱ ȱ Ȋȱ ȱ¢Ǳȱȱ

ȱ ȱ Ȭȱ Ȋȱ ȱ¢Ǳȱȱ

ŗǯŖȱ Ȃȱȱȱȱȱ ȱǻȂǯǼ

ȱ ȱȱȱȱȱȱǯȱ ¢ȱ ȱǰȱ ȱȱȱȱȱȱȱęȱ¢ȱȱȱȱ ȱ

Śǯŗȱ ȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱȱȱȱ¡ȱǻŜǼȱ¡ȱȱȱęȱǻśǼȱȱ

ŚǯŘȱ ȱȱȱęȱ¢ȱȱřŗȱȱŘŖŗşǰȱ ȱȱȱǻǯǼȱȂȱȱȱ

ȱ ȱȱȱ ȱ ȱ ȱ ȱ ȱ ę

ŞǯŖȱ ěȱȱȱ

ŞǯŖȱ ěȱȱȱȱǻȂǯǼ

şǯŗȱ ȱȱȱȱ¢ȱȱȱȱĴȱ ȱȱȱȱ ȱȱȱǯǰȱȂȱȱ

ŗŖǯŖȱ ěȱ ǰȱȱȱȱȱȱ

ȱ ǻǼȱ ȱȱȱ¢ȱ Ǳȱ ȱĜȱ