ANNUAL REPORT 2020

STATEMENTS OF FINANCIALAsPOSITION
at 31 December 2020

Group

RM’000 Note 2020 2019

ASSETS
Non-current assets
Property, plant and equipment 13 193,678 211,982
Right-of-use assets 34 40,827 30,937
Land held for property development 14 477 477
Intangible assets 15 718,349 734,304
Investment in associates 17 85,203 77,005
Other investments 18 232 272
Trade and other receivables 20 119,992 126,421 1
Contract related assets 21 67,751 35,212
Deferred tax assets 29 8,960 13,274
2
1,235,469 1,229,884

Current assets 3
Inventories 19 77,865 133,773
Trade and other receivables 20 460,013 546,320
Contract related assets 21 293,351 344,736 4
Tax recoverable 50,854 37,109
Short term investments 22 11,799 62,463 5
Cash, bank balances and deposits 23 678,002 558,531

1,571,884 1,682,932 6

Total assets 2,807,353 2,912,816 7

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STATEMENTS OF FINANCIAL POSITION

As at 31 December 2020 (contd.)

Group

RM’000 Note 2020 2019

EQUITY AND LIABILITIES

Equity attributable to owners of the parent
Share capital 30 268,074 268,074
Capital reserve 31 313,856 313,856
Other reserves 32 (16,340) 3,415
Retained earnings 33 935,082 986,688

1,500,672 1,572,033
Non-controlling interests 8,590 12,390

Total equity 1,509,262 1,584,423

Non-current liabilities
Retirement benefit obligations 24 2,518 3,183
Defined benefit pension plan 25 937 1,116
Provisions 26 2,891 2,382
Borrowings 27 318,704 365,561
Lease liabilities 34 27,768 19,131
Trade and other payables 28 1,659 1,612
Financial Statements

Deferred tax liabilities 29 44,126 50,391

398,603 443,376

Current liabilities
Retirement benefit obligations 24 877 564
Provisions 26 1,620 1,620
Borrowings 27 164,450 153,507
Lease liabilities 34 9,807 11,146
Trade and other payables 28 668,935 671,942
Contract liabilities 21 30,663 21,131
Income tax payable 23,136 25,107

899,488 885,017

Total liabilities 1,298,091 1,328,393

Total equity and liabilities 2,807,353 2,912,816

The accompanying accounting policies and explanatory information form an integral part of the financial statements.

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 ANNUAL REPORT 2020

INCOME STATEMENTS
For the year ended 31 December 2020

Group Company

RM’000 Note 2020 2019 2020 2019

Revenue 3 2,028,716 2,411,195 87,695 300,660

Cost of sales 4 (1,756,013) (1,944,388) – –

Gross profit 272,703 466,807 87,695 300,660

Other income 5 57,771 66,435 11,364 18,245
Administrative expenses (221,818) (233,631) (93,024) (95,233)
Selling and marketing expenses (102) (120) – –
Other expenses (53,887) (48,090) (64,031) (100,853)

Operating profit/(loss) 54,667 251,401 (57,996) 122,819 1

Finance costs 6 (23,491) (27,954) (18,788) (19,677)
Share of profit of associates 15,756 21,502 – –
2
Profit/(loss) before tax 7 46,932 244,949 (76,784) 103,142
Zakat (2,367) (3,065) – –
Income tax (expense)/benefit 10 (30,192) (53,844) (10) 218 3

Profit/(loss) after tax 14,373 188,040 (76,794) 103,360

4
Profit/(loss) attributable to:
Owners of the parent 12,869 181,782 (76,794) 103,360 5
Non-controlling interests 1,504 6,258 – –

14,373 188,040 (76,794) 103,360 6

Earnings per share 7

attributable to owners of the parent (sen) 11 1.5 21.9

The accompanying accounting policies and explanatory information form an integral part of the financial statements.

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STATEMENTS OF COMPREHENSIVE INCOME

For the year ended 31 December 2020

Group Company

RM’000 Note 2020 2019 2020 2019

Profit/(loss) after tax 14,373 188,040 (76,794) 103,360

Other comprehensive (loss)/income

Other comprehensive (loss)/income

to be reclassified to profit or
loss in subsequent periods:

Exchange differences on
translation of foreign operations (72) 1,421 – –
Exchange differences reclassified
to profit or loss (19,130) – – –

(19,202) 1,421

Other comprehensive (loss)/income

not to be reclassified to profit or
loss in subsequent periods:

Remeasurement loss on
Financial Statements

Defined Benefit Pension Scheme 25 (114) (64) – –

(114) (64)

Other comprehensive (loss)/income

for the year (19,316) 1,357 – –

Total comprehensive (loss)/income

for the year (4,943) 189,397 (76,794) 103,360

Total comprehensive
(loss)/income attributable to:
Owners of the parent (6,564) 183,175 (76,794) 103,360
Non-controlling interests 1,621 6,222 – –

(4,943) 189,397 (76,794) 103,360

The accompanying accounting policies and explanatory information form an integral part of the financial statements.

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