Annual Report 2019
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ANNUAL REPORT 2019 FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Matrix Concepts Holdings Berhad has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance practices. COVER RATIONALE This annual report’s cover features a globe circumscribed by a distinct geometrical shape with nodes that indicate Matrix Concepts Holdings Berhad’s (“Matrix”) sustainable vision for advancing growth globally. This is reflected in Matrix’s strong foothold in Negeri Sembilan and Kluang as well as our venture into Australia and Indonesia. The cover depicts our expansion growth into new horizon. 22ND ANNUAL GENERAL MEETING Halia Room, d’Tempat Country Club Wednesday, 21 August 2019 PT 12653, Jalan Pusat Dagangan Sendayan 1 71950 Bandar Sri Sendayan Negeri Sembilan Darul Khusus 10.30 a.m. Malaysia To contact us, please refer to The financial statements are available page 003 for Corporate Information in the Financial Statements and back cover of this Annual Report. on page 137 to page 235 of the Annual Report 2019 www This annual report is available Run the QR Code Reader app on the website at and point your camera www.mchb.com.my at the QR Code. TABLE OF CONTENTS OVERVIEW VALUE CREATION FINANCIAL STATEMENTS 002 Company Vision and Mission 058 Value Creation Process and 137 Directors’ Report 003 Corporate Information Business Model 145 Statement by Directors 004 About This Report 059 Value Creation for Homeowners 145 Statutory Declaration 006 Key Milestones 146 Independent Auditors’ Report 008 Corporate Structure SUSTAINABILITY 150 Statements of Financial Position 061 About This Sustainability 152 Statements of Profit or Loss and PERFORMANCE Statement Other Comprehensive Income 062 Sustainability in Action 153 Statements of Changes in Equity 009 Financial Highlights 064 Prioritising What is Material 156 Statements of Cash Flows 011 Dividend Highlights 067 Economic 158 Notes to the Financial Statements 012 Share Price Performance 072 Environmental Responsibility 013 Chairman’s Statement 081 Our Society ADDITIONAL INFORMATION 019 Management Discussion and Analysis 089 Our People 236 Additional Information 097 Fair Treatment and Respecting 237 List of Properties Human Rights LEADERSHIP 239 Analysis of Shareholdings 098 Responsible Operations 242 Analysis of Warrant Holdings 038 Board of Directors’ Profiles 105 Moving Forward: Sustainability, 245 Recurrent Related Party 047 Management Team Strategy and Impact Transactions 106 GRI Content Index OUR BUSINESS ANNUAL GENERAL MEETING GOVERNANCE 050 About Matrix 247 Notice of Annual General Meeting 052 Awards and Recognitions 110 Corporate Governance 250 Statement Accompanying Overview Statement 054 Our Capitals Used and Values Notice of Annual General Meeting Created 124 Audit Committee Report 055 Our Strengths 129 Statement on Risk Management Proxy Form 056 Risks and Opportunities and Internal Control 135 Statement of Responsibility by Directors MANAGEMENT CHAIRMAN’S DISCUSSION STATEMENT AND ANALYSIS 013 019 OVERVIEW PERFORMANCE LEADERSHIP OUR BUSINESS VALUE CREATION COMPANY VISION AND MISSION OUR OUR VISION MISSION THE CREATION OF A BENCHMARK – NURTURING ENVIRONMENT AND ENRICHING LIVES BY BEING A CARING AND Strive to consistently Continuously Creation and exceed our develop our highly- enhancing COMMUNITY DEVELOPER. customers’ valued human shareholders’ value PROVIDING PREMIER AND expectations capital based on and fulfillment of QUALITY EDUCATION FOR through delivering meritocracy to our corporate social par excellence ensure continuous responsibilities. OUR FUTURE GENERATION products and growth for both AND DIVERSIFY INTO professional services the business and SUSTAINABLE PROPERTY for total customer stakeholders. satisfaction. INVESTMENT. COMPANY HIGHLIGHTS GROUP REVENUE GROUP NET PROFIT FY2019 FY2019 RM1.045 BIL RM218.23 MIL GROUP PRE-TAX MARKET PROFIT CAPITALISATION FY2019 (AS AT 30 JUNE 2019) RM297.77 MIL RM1.495 BIL MATRIX CONCEPTS HOLDINGS BERHAD 002 ANNUAL REPORT 2019 SUSTAINABILITY GOVERNANCE FINANCIAL ADDITIONAL ANNUAL STATEMENTS INFORMATION GENERAL MEETING CORPORATE INFORMATION DATO’ LEE TIAN HOCK DATO’ FIRDAUS MUHAMMAD BOARD Group Executive Deputy Chairman ROM BIN HARUN OF DIRECTORS Non-Independent Executive Director Independent Non-Executive Director HO KONG SOON DATO’ (IR.) BATUMALAI A/L DATO’ HAJI Group Managing Director RAMASAMY MOHAMAD HASLAH Non-Independent Executive Director Independent Non-Executive Director BIN MOHAMAD AMIN REZAL ZAIN BIN ABDUL RASHID DATO’ HON CHOON KIM Chairman Senior Independent Independent Non-Executive Director Non-Independent Non-Executive Director Non-Executive Director DATO’ HAJAH KALSOM BINTI KHALID DATO’ LOGENDRAN A/L K Independent Non-Executive Director NARAYANASAMY Non-Independent Non-Executive Director AUDIT COMMITTEE ESOS COMMITTEE REGISTERED OFFICE Rezal Zain Bin Abdul Rashid (Chairman) Dato’ (Ir.) Batumalai A/L Ramasamy Wisma Matrix Dato’ Firdaus Muhammad Rom Bin Harun (Chairman) No. 57, Jalan Tun Dr. Ismail, Ho Kong Soon 70200 Seremban, Dato’ (Ir.) Batumalai A/L Ramasamy Negeri Sembilan. Dato’ Logendran A/L K Narayanasamy Dato’ Hon Choon Kim Tel : +606-7642 688 Dato’ Hajah Kalsom Binti Khalid Fax : +606-7646 288 STOCK EXCHANGE LISTING Website : www.mchb.com.my REMUNERATION COMMITTEE Bursa Malaysia Securities Berhad Dato’ Hon Choon Kim (Chairman) Main Market REGISTRAR Rezal Zain Bin Abdul Rashid Property Sector Bina Management (M) Sdn Bhd Dato’ Hajah Kalsom Binti Khalid Lot 10, The Highway Centre, STOCK NAME AND CODE Jalan 51/205, 46050 Petaling Jaya, MATRIX (5236) NOMINATION COMMITTEE Selangor. Dato’ Firdaus Muhammad Rom Bin Harun Tel : +603-7784 3922 (Chairman) STOCK NAME AND CODE Fax : +603-7784 1988 Dato’ (Ir.) Batumalai A/L Ramasamy FOR WARRANTS MATRIX-WA (5236WA) Dato’ Hon Choon Kim BANKERS Dato’ Hajah Kalsom Binti Khalid AmBank Islamic Berhad COMPANY SECRETARY AmBank Berhad Carmen Loo Kah Boon RISK MANAGEMENT COMMITTEE Maybank Islamic Berhad (MAICSA 0784630) Rezal Zain Bin Abdul Rashid (Chairman) CIMB Islamic Bank Berhad Ho Kong Soon CIMB Bank Berhad AUDITORS Dato’ Logendran A/L K Narayanasamy RHB Islamic Bank Berhad Crowe Malaysia PLT Dato’ Firdaus Muhammad Rom Bin Harun (formerly known as Crowe Malaysia) Dato’ Hajah Kalsom Binti Khalid (LLP0018817- LCA & AF 1018) 52, Jalan Kota Laksamana 2/15, SUSTAINABILITY COMMITTEE Taman Kota Laksamana, Seksyen 2, Dato’ Haji Mohamad Haslah Bin 75200 Melaka. Mohamad Amin (Chairman) Tel : +606-2825 995 Dato’ Lee Tian Hock Fax : +606-2836 449 Ho Kong Soon Dato’ Logendran A/L K Narayanasamy MATRIX CONCEPTS HOLDINGS BERHAD ANNUAL REPORT 2019 003 OVERVIEW PERFORMANCE LEADERSHIP OUR BUSINESS VALUE CREATION ABOUT THIS REPORT As we continue to enhance our annual reporting process and overall disclosure, Matrix Concepts Holdings Berhad (“Matrix” or “the Group”) has chosen to progressively align its reporting to an Integrated Reporting (“IR”) framework based on the guiding principles and the content elements prescribed by the International Integrated Reporting Council (“IIRC”). This is also in line with Practice 11.2 of the Corporate Governance Report (“CG Report”) which recommends public listed issuers to adopt an IR format based on globally recognised frameworks. Our adoption of IR is driven by Matrix’s desire to provide stakeholders on more comprehensive disclosure on the Group’s performance which encompasses both financial and non-financial resources used and the values created during financial year ended 31 March 2019 (“FY2019”). Management is of the view that by adopting IR guiding principles and content elements, Matrix is able to better capture the total impact of its business strategies and operations. This includes economic, environment and social (“EES”) impacts and future prospects. Given that this is our first year, our incorporation of IR is at an initial stage of adoption. Going forward, we will endeavour to improve our reporting in line with best reporting practices as recommended by the IIRC. FY2022/23 Adoption of FY2021/22 the full guiding principles and content Enhancement elements. FY2019/20 of disclosures and greater FY2015- incorporation APPLIED Initiate of best FY2018 general practices, FRAMEWORKS adoption of processes, IR guiding enhancement • Main Market Listing Requirements of Bursa Initiation of principles of data Malaysia Securities Berhad sustainability and content collection and • Malaysian Code on Corporate Governance 2017 related policies elements. more. (“MCCG 2017”) and strategies • Compliance with Malaysian legal requirements including under the Companies Act 2016 action plans, • Global Reporting Initiative (“GRI”) Standards 2016: enhancement Core option of corporate • Bursa Malaysia FTSE4Good Index governance • Bursa Malaysia Sustainability Reporting Guide – and policies Second Edition and practices. • Malaysian Financial Reporting Standards • International Financial Reporting Standards MATRIX CONCEPTS HOLDINGS BERHAD 004 ANNUAL REPORT 2019 SUSTAINABILITY GOVERNANCE FINANCIAL ADDITIONAL ANNUAL STATEMENTS INFORMATION GENERAL MEETING ABOUT THIS REPORT MATERIAL SCOPE AND BOUNDARY FORWARD LOOKING STATEMENTS The Group’s material scope and boundary is limited to Matrix’s This report contains statements that relate to future operations and business