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EVERSENDAI CORPORATION BERHAD (614060-A) Towering – Powering – Energising – Innovating EVERSENDAI CORPORATION BERHAD EVERSENDAI CORPORATION Malaysia I Singapore I India I Dubai I Abu Dhabi I Sharjah I Ras Al Khaimah I Qatar I Saudi Arabia I Azerbaijan ANNUAL REPORT 2013 ANNUAL REPORT Annual www.eversendai.com Lot 19956, Jalan Industri 3/6, Tel : +603 6091 2575 Report Rawang Integrated Industrial Park, Fax : +603 6091 2577 48000 Selangor Darul Ehsan, Email : [email protected] Malaysia 2013 Multimedia versions of our annual reports: • You can view or download our annual report via this link: http://ir.chartnexus.com/eversendai/docs/ar/ar2013.pdf • You can also scan the QR Code with your smartphone or tablet to download this annual report onto your device. CORPORATE DIRECTORY MALAYSIA SHARJAH ABU DHABI EVERSENDAI CORPORATION BERHAD EVERSENDAI ENGINEERING FZE EVERSENDAI ENGINEERING LLC EVERSENDAI OFFSHORE SDN BHD Plot No. 2E-04,05,09 & 10, P.O. Box 107729, (formerly known as Eversendai Technics Sdn Bhd) P.O.Box 42531, Abu Dhabi, United Arab Emirates. SHIN EVERSENDAI ENGINEERING (M) SDN BHD Hamriyah Free Zone Establishment, Tel : +971 2 495 0700 VISION ECB PROPERTIES SDN BHD Sharjah, United Arab Emirates. Fax : +971 2 445 4672 Lot 19956, Jalan Industri 3/6, Tel : +971 4 267 3738 Email : [email protected] STATEMENT Rawang Integrated Industrial Park, Fax : +971 4 267 3663 48000 Rawang, Email : [email protected] TO BE A GLOBAL LEADER Selangor Darul Ehsan, Malaysia. Tel : +603 6091 2575 KINGDOM OF SAUDI ARABIA BY INNOVATING, EXCELLING Fax : +603 6091 2577 QATAR EVERSENDAI ENGINEERING SAUDI LLC Email : [email protected] AND SUSTAINING WITH EVERSENDAI ENGINEERING QATAR WLL P.O. Box 241763, Al-Masif Area, Al Imam Saudi Bin Aziz Bin Mohammed Road, CORE VALUES IN NEW P.O. Box 35283, Riyadh 11692, Kingdom of Saudi Arabia. EVERSENDAI OIL & GAS (M) SDN BHD Street No.41, New Industrial Area, (formerly known as Sumatec Engineering FRONTIERS & Construction Sdn Bhd) Doha, Qatar. Tel : +966 1 494 4891 EVERSENDAI CONSTRUCTIONS (M) SDN BHD Tel : +974 4 411 4378 Fax : +966 1 494 4892 (formerly known as Vahana Constructions Sdn Bhd) Fax : +974 4 411 4381 Email : [email protected] Level 5, Menara Mudajaya, Email : [email protected] 12A, Jalan PJU 7/3, Mutiara Damansara, MISSION 47810 Petaling Jaya, INDIA Selangor Darul Ehsan, Malaysia. STATEMENT RAS AL KHAIMAH EVERSENDAI CONSTRUCTION PVT LTD Tel : +603 7733 3300 EVERSENDAI OFFSHORE RMC FZE Plot No.1 & 2 , The Lords Block-1, Fax : +603 7733 3351 We aim to deliver sustainable value (formerly known as Eversendai Technics 5th Floor, Thiru-vi-ka Industrial Estate, to our stakeholders by fulfilling our Email : [email protected] RMC FZE) Jawaharlal Nehru Road, Ekkattuthangal, [email protected] RAK Maritime City, Guindy, Chennai-600 032, commitment to our clients while P.O. Box 5130, Tamil Nadu, India. strengthening and forging new ties. Ras Al Khaimah, United Arab Emirates. Tel : +91 044 4070 1234 We endeavour to maintain and enhance DUBAI Tel : +971 4 456 4815 Fax : +91 044 4070 1230 our consistent performance, work EVERSENDAI ENGINEERING LLC Fax : +971 4 456 4833 Email : [email protected] culture and standards. We strongly EVS CONSTRUCTION LLC Email : [email protected] 29th Floor, Vision Tower, believe in maximising the value of Al Khaleej Al Tejari Street 1, Business Bay, 45th Floor, Vision Tower, SINGAPORE P.O Box 29537, Al Khaleej Al Tejari Street 1, Business Bay, human capital and aligning it with EVERSENDAI CONSTRUCTION (S) PTE LTD Dubai, United Arab Emirates. P.O Box 116654, company initiatives as a fundamental Dubai, United Arab Emirates. EVERSENDAI ENGINEERING PTE LTD Tel : +971 4 453 9881 EVERSENDAI TECHNICS PTE LTD element of our business objective Tel : +971 4 456 4815 Fax : +971 4 453 9940 Fax : +971 4 456 4833 6001, Beach Road, #18-01, Email : [email protected]@eversendai.com Golden Mile TowerTower,, EmailEmail : [email protected]@eversendaioffshore.com Singapore 199589. TTelel : ++6565 62262277 0335 FFaxax : ++6565 62262277 00002121 EEmailmail : [email protected]@eversendai.com CORE VALUES • Compliance To SAFETY • Conformance to QUALITY • Adherence to SCHEDULE • Consistent CLIENT SATISFACTION CONTENTS EVERSENDAI TODAY • OUR VISION, MISSION & CORE VALUES • CORpORAtE INfORMAtION 2 • OUR AREAS Of OpERAtION & CORpORAtE StRUCtURE 3 • BOARD Of DIRECtORS 4 • BOARD Of DIRECtORS’ pROfILE 5 • OUR fOCUS ON QUALIty 9 • OUR COMMItMENt tO HEALtH, SAfEty & ENVIRONMENt 10 • AwARDS & RECOgNItION 11 • gROUp MILEStONES 14 • IN tHE NEwS 16 • CALENDAR Of EVENtS 18 BUSINESS PERFORMANCE REVIEW • CHAIRMAN’S StAtEMENt 20 • OpERAtIONS REVIEw 25 • 5-yEAR gROUp fINANCIAL HIgHLIgHtS 36 • gROUp fINANCIAL SUMMARy 37 CORPORATE RESPONSIBILITY • StAtEMENt ON CORpORAtE SUStAINABILIty 39 • CORpORAtE SOCIAL RESpONSIBILIty 40 • CORpORAtE gOVERNANCE StAtEMENt 41 • StAtEMENt ON RISk MANAgEMENt AND INtERNAL CONtROL 52 • AUDIt COMMIttEE REpORt 55 • ADDItIONAL CORpORAtE DISCLOSURE 60 • StAtEMENt Of DIRECtORS’ RESpONSIBILIty 64 FINANCIAL STATEMENTS • fINANCIAL CALENDAR 66 • DIRECtORS’ REpORt 67 • StAtEMENt By DIRECtORS 72 • StAtUtORy DECLARAtION 72 • INDEpENDENt AUDItORS’ REpORt 73 • StAtEMENtS Of COMpREHENSIVE INCOME 75 • StAtEMENtS Of fINANCIAL pOSItION 77 • StAtEMENtS Of CHANgE IN EQUIty 79 • StAtEMENtS Of CASH fLOwS 83 • NOtES tO tHE fINANCIAL StAtEMENtS 86 • SUppLEMENtARy INfORMAtION 183 • LISt Of gROUp pROpERtIES 184 • ANALySIS Of SHAREHOLDINgS 188 ANNUAL GENERAL MEETING • NOtICE Of ELEVENtH ANNUAL gENERAL MEEtINg 191 • StAtEMENt ACCOMpANyINg NOtICE Of ANNUAL gENERAL MEEtINg 196 • pROxy fORM ENCLOSED 2 EVERSENDAI CORPORATION BERHAD ANNUAL REPORT 2013 CORPORATE INFORMATION BOARD OF DIRECTORS REGISTERED OFFICE AND TAN SRI NATHAN A/L ELUMALAY PRINCIPAL PLACE OF BUSINESS (Executive Chairman & Group Managing Director) Lot 19956, Jalan Industri 3/6 MOHAMMAD NIZAR BIN IDRIS Rawang Integrated Industrial Park (Senior Independent Non-Executive Director) 48000 Rawang TAN SRI RASTAM BIN MOHD ISA Selangor Darul Ehsan, Malaysia (Independent Non-Executive Director) Telephone no. : +603 6091 2575 Fax no. : +603 6091 2577 DATUK NG SEING LIONG JP Website : www.eversendai.com (Independent Non-Executive Director) NADARAJAN ROHAN RAJ (Executive Director) PRINCIPAL BANKERS NARLA SRINIVASA RAO MALAYSIA United Overseas Bank (Malaysia) Bhd (Executive Director) Standard Chartered Bank Malaysia Berhad S SUNTHARA MOORTHY A/L S SUBRAMANIAM Malayan Banking Berhad (Executive Director) NARISHNATH A/L NATHAN UAE Dubai Islamic Bank (PJSC) (Executive Director) Emirates NBD Bank (PJSC) United Arab Bank AUDIT COMMITTEE United Bank Limited DATUK NG SEING LIONG JP (Chairman/Independent Non-Executive Director) QATAR HSBC Bank Middle East Limited MOHAMMAD NIZAR BIN IDRIS United Bank Limited (Member/Senior Independent Non-Executive Director) TAN SRI RASTAM BIN MOHD ISA INDIA (Member/Independent Non-Executive Director) ICICI Bank Limited Standard Chartered Bank REMUNERATION COMMITTEE TAN SRI RASTAM BIN MOHD ISA INDEPENDENT AUDITORS (Chairman/Independent Non-Executive Director) Ernst & Young (AF: 0039) MOHAMMAD NIZAR BIN IDRIS Chartered Accountants (Member/Senior Independent Non-Executive Director) Level 23A, Menara Milenium Jalan Damanlela NADARAJAN ROHAN RAJ (Member/Executive Director) Pusat Bandar Damansara 50490 Kuala Lumpur, Malaysia Telephone no. : +603 7495 8000 NOMINATION COMMITTEE Fax no. : +603 2095 9076 MOHAMMAD NIZAR BIN IDRIS (Chairman/Senior Independent Non-Executive Director) SHARE REGISTRAR TAN SRI RASTAM BIN MOHD ISA (Member/Independent Non-Executive Director) Symphony Share Registrars Sdn Bhd Level 6, Symphony House DATUK NG SEING LIONG JP Pusat Dagangan Dana 1 (Member/Independent Non-Executive Director) Jalan PJU 1A/46 47301 Petaling Jaya COMPANY SECRETARY Selangor Darul Ehsan, Malaysia CHEOK KIM CHEE (MACS 00139) Telephone no. : +603 7841 8000 Fax no. : +603 7841 8151 STOCK EXCHANGE LISTING Main Market of Bursa Malaysia Securities Berhad STOCK NAME: SENDAI STOCK CODE: 5205 SHARIAH CERTIFYING AUTHORITY Shariah Advisory Council (SAC) 3 EVERSENDAI CORPORATION BERHAD ANNUAL REPORT 2013 OUR AREAS OF OPERATION & CORPORATE STRUCTURE AZERBAIJAN QATAR ABU DHABI DUBAI SAUDI SHARJAH ARABIA RAS AL KHAIMAH OMAN INDIA SRI LANKA MALAYSIA SINGAPORE Eversendai Engineering LLC (Dubai, UAE) EVS Construction LLC (Dubai, UAE) Eversendai Engineering LLC (Abu Dhabi, UAE) Eversendai Engineering FZE (Sharjah, UAE) Eversendai Engineering Saudi LLC Eversendai Engineering Pte Ltd (Saudi Arabia) (Singapore) Eversendai Construction (S) Pte Ltd Eversendai Construction Pvt Ltd (Singapore) (Chennai, India) Eversendai Technics Pte Ltd Eversendai Engineering Qatar WLL (Singapore) (Doha, Qatar) (614060-A) Shineversendai Engineering (M) Sdn Bhd (Malaysia) Eversendai Offshore Sdn Bhd Eversendai Offshore RMC FZE (formerly known as Eversendai Technics Sdn Bhd) (formerly known as Eversendai Technics RMC FZE) Eversendai Corporation Berhad (Malaysia) (Ras Al Khaimah, UAE) ECB Properties Sdn Bhd (Malaysia) Perisai Kuasa Sdn Bhd Eversendai Oil & Gas (M) Sdn Bhd (Malaysia) (formerly known as Sumatec Engineering & Construction Sdn Bhd) (Malaysia) Eversendai Constructions (M) Sdn Bhd Eversendai Engineering (Pvt) Ltd (formerly known as Vahana Constructions Sdn Bhd) (formerly known as Vahana Constructions (Pvt) Ltd) (Malaysia) (Sri Lanka) Technics Oil & Gas Ltd (Singapore) Subsidiary company Associated company 4 EVERSENDAI