LITRAK AR2020 Part1.Pdf
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CONTENTS BOARD OF FINANCIAL DIRECTORS’ HIGHLIGHTS CHAIRMAN'S 03 PROFILE 11 12 STATEMENT Corporate Information 02 Board of Directors’ Profile 03 Group Key Senior Management's Profile 08 Management Team of LITRAK Group 10 Financial Highlights 11 Chairman’s Statement 12 Management Discussion and Analysis 14 Sustainability Statement 21 Corporate Governance Overview Statement 40 Statement on Risk Management and Internal Control 46 Audit Committee Report 48 Additional Compliance Information 50 Financial Statements 51 Analysis of Shareholdings 122 Notice of Annual General Meeting 124 Administrative Guide 127 Proxy Form • 25TH ANNUAL GENERAL MEETING Date 30 SEPTEMBER 2020, WEDNESDAY Time 11.00 A.M. Broadcast Venue MANAGEMENT TRICOR BUSINESS CENTRE DISCUSSION & ANALYSIS MANUKA 2 & 3 MEETING ROOM UNIT 29-01, LEVEL 29, TOWER A 14 VERTICAL BUSINESS SUITE AVENUE 3, BANGSAR SOUTH NO. 8 JALAN KERINCHI 59200 KUALA LUMPUR MALAYSIA Lingkaran Trans Kota Holdings Berhad 199501006186 (335382-V) Annual Report 2020 CORPORATE INFORMATION BOARD OF DIRECTORS TAN SRI DATO' SETIA HAJI AMBRIN BIN BUANG Independent Non-Executive Chairman IR HAJI YUSOFF BIN DAUD Non-Independent Executive Director DATO' HAJI AZMI BIN MAT NOR Non-Independent Non-Executive Director DATIN LEE CHOI CHEW Independent Non-Executive Director PUAN NAZLI BINTI MOHD KHIR JOHARI Independent Non-Executive Director AUDIT COMMITTEE REGISTERED OFFICE 2nd Floor, Kompleks Operasi LITRAK Datin Lee Choi Chew KM19 Lebuhraya Damansara-Puchong (Chairperson) Bandar Sunway, PJS 9 47500 Subang Jaya Tan Sri Dato' Setia Haji Ambrin bin Buang Selangor Darul Ehsan Puan Nazli binti Mohd Khir Johari Malaysia Tel : 603-7494 7000 Fax : 603-7494 7022 REMUNERATION COMMITTEE Tan Sri Dato' Setia Haji Ambrin bin Buang AUDITORS (Chairman) Ernst & Young Dato' Haji Azmi bin Mat Nor (Chartered Accountants) Puan Nazli binti Mohd Khir Johari SHARE REGISTRAR Insurban Corporate Services Sdn Bhd NOMINATION COMMITTEE 149 Jalan Aminuddin Baki Tan Sri Dato' Setia Haji Ambrin bin Buang Taman Tun Dr Ismail (Chairman) 60000 Kuala Lumpur Tel : 603-7729 5529 Dato' Haji Azmi bin Mat Nor Fax : 603-7728 5948 Puan Nazli binti Mohd Khir Johari BANKERS SENIOR INDEPENDENT Malayan Banking Berhad NON-EXECUTIVE DIRECTOR Maybank Investment Bank Berhad Datin Lee Choi Chew E-mail: [email protected] STOCK EXCHANGE LISTING COMPANY SECRETARIES Bursa Malaysia Securities Berhad Main Market Ms Lim Soo Lye Ms Chiew Teng Juan WEBSITE www.litrak.com.my 2 www.litrak.com.my BOARD OF DIRECTORS' PROFILE Tan Sri Dato' Setia Haji Ambrin was also attached to the Malaysian Embassy in Tokyo, Japan from 1992 to March 1995 as Minister for Economic Affairs and Deputy Head of Mission. He was a Senior General Manager for the Kuala Lumpur International Airport Berhad from April 1995 to February 1999. He was the State Secretary of the Selangor State Government from March 1999 to September 2001 and Secretary General of the Ministry of Education till his appointment as Auditor General of Malaysia. On 16 May 2016, Tan Sri Dato' Setia Haji Ambrin was conferred an Honorary Doctorate Award which carries the title Prof. (Dr.) by IIC University of Technology, Cambodia. In 2017, he was awarded an Honorary Doctorate in Accounting by Universiti Kebangsaan Malaysia and appointed Professor Ajung by Universiti Utara Malaysia. He is currently a member of Dewan DiRaja Selangor. Formerly, he was a Board Member of the Malaysian lnstitute of Integrity. In 2018, Tan Sri Dato' Setia Haji Ambrin was appointed by the Malaysian Government as Chairman of the Special Investigation Committee on Procurement, Governance and Finance. In the same year, he was also appointed as the Chairman of Perbadanan Pembangunan Kampung Bharu and as a member of the Board of Trustees of Yayasan Pelaburan Bumiputra. For the past 13 years, he has been a frequent speaker TAN SRI DATO' SETIA HAJI presenting his views and perspective on public sector AMBRIN BIN BUANG auditing, good governance and integrity at many seminars 71, Malaysian (Male) Independent Non-Executive Director and conferences organised domestically and internationally. Tan Sri Dato' Setia Haji Ambrin was appointed to the Tan Sri Dato' Setia Haji Ambrin holds a Degree in Board of Directors on 6 September 2017. He also serves Economics from the University of Malaya and a Masters as a Chairman of the Nomination Committee and the in International Business from the University of South Remuneration Committee and he is a member of the Audit Carolina, USA. Committee of the Company. He was appointed the Auditor General of Malaysia on He is also the Chairman of BIMB Holdings Berhad and an 22 February 2006 upon his retirement after having served Independent Non-Executive Director of Gamuda Berhad. the Government (Malaysian Civil Service) for over 35 years. He completed his tenure as Auditor General of Malaysia Tan Sri Dato' Setia Haji Ambrin does not have any family on 22 February 2017. relationship with any Director and/or major shareholder of the Company. He has no conflict of interest with the His working career includes experience in the Ministry of Company. Trade and lndustry from 1971 to 1982 and was appointed as Deputy Director, Small Scale Industries Division in Tan Sri Dato' Setia Haji Ambrin attended all the 5 board 1981. He has also served in the Malaysian Timber lndustry meetings held during the financial year ended 31 March Board from 1982 to 1987 and the National Institute of 2020. Public Administration from July 1987 to 1991. 3 Lingkaran Trans Kota Holdings Berhad 199501006186 (335382-V) Annual Report 2020 BOARD OF DIRECTORS' PROFILE IR HAJI YUSOFF BIN DAUD 75, Malaysian (Male), Non-Independent Executive Director Ir Haji Yusoff graduated from the University of He is the Honorary Non-Executive Chairman of Toyo Brighton with a Bachelor of Science (Honours) Degree Ink Group Berhad. in Electrical Engineering in 1968. He joined National Electricity Board (LLN), Kota Bharu immediately Ir Haji Yusoff was appointed to the Board of Directors after his graduation and in 1970 he was posted to on 14 September 1995. He also serves as a Chairman Kedah as Assistant Engineer Consumers. In 1974, of the Executive Committee and the ESOS Committee he was promoted to District Engineer where he was of the Company. responsible for the planning and implementation of electricity supply for northern Kedah and Perlis. In He does not have any family relationship with any 1977, he became the Senior District Manager, Kuala Director and/or major shareholder of the Company. He Terengganu, where he was responsible for the overall has no conflict of interest with the Company. management and operations of electricity supply in Terengganu. From 1979 to 1980, he was attached Ir Haji Yusoff attended all the 5 board meetings held to Petronas in the Special Projects Department as during the financial year ended 31 March 2020. its Deputy Head responsible for the planning of the Peninsular Gas Utilisation Project. In 1981, he was appointed a Director of Zaidun-Leeng Sdn Bhd and was subsequently made the Managing Director in 1994; a position which he held until 2002 when he was appointed as the Chairman until today. He has over 52 years of management and professional experience in the consulting engineering industry. Zaidun-Leeng Sdn Bhd specialises in the planning and design of infrastructure projects including mechanical, electrical and structural engineering services for both government and private sectors. 4 www.litrak.com.my BOARD OF DIRECTORS' PROFILE DATO’ HAJI AZMI BIN MAT NOR 62, Malaysian (Male), Non-Independent Non-Executive Director Dato' Haji Azmi graduated from the University of Dato' Haji Azmi has extensive knowledge of Strathclyde, Glasgow, Scotland, United Kingdom with developing and managing the implementation a Bachelor of Science Degree in Civil Engineering in of complex infrastructure concession projects in 1983 and a Master of Science Degree in Highway Malaysia as well as overseeing the operations of Engineering from the same university in 1995. infrastructure concessions, namely expressways, water-related and others. He is also heavily He was a Resident Engineer for Public Works involved in the implementation of the Klang Valley Department (JKR), Pahang from 1983 to 1984 and MRT Project. Resident Engineer of JKR, Selangor from 1984 to 1986. As the Resident Engineer, he was responsible Dato' Haji Azmi was appointed to the Board of for supervising the construction of army complex, civil Directors on 3 January 2001. He is also a member work and air force building. of the Executive Committee, the Nomination Committee and the Remuneration Committee of In 1987, he was posted to JKR Kuala Lumpur (Road the Company. Branch) as a Design Engineer responsible for road design and the management and coordination of He is a director and shareholder of Gamuda Berhad, consultants' works. His last position with JKR Kuala a major shareholder of the Company. He has no Lumpur was as Assistant Director of the Central Zone conflict of interest with the Company. Design Unit. He left in 1997 to join Gamuda Berhad as a Manager in Design and Technical. In addition to Gamuda Berhad, his directorships in other public companies are in Kesas Holdings Berhad and Syarikat Pengeluar Air Selangor Holdings Berhad. Dato' Haji Azmi attended 4 out of the 5 board meetings held during the financial year ended 31 March 2020. 5 Lingkaran Trans Kota Holdings Berhad 199501006186 (335382-V) Annual Report 2020 BOARD OF DIRECTORS' PROFILE DATIN LEE CHOI CHEW 61, Malaysian (Female), Independent Non-Executive Director Datin Lee holds a Bachelor Degree in Accounting After optional retirement from MHA in 2000, she (Honours) from the University of Malaya. She is a worked in finance and accounting with a professional member of the Malaysian Institute of Accountants and service firm before her appointment as an Executive an associate member of CPA Australia. Director of a property investment company, chiefly in charge of its financial affairs.