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Annual 2019.Pdf IKHMAS JAYA GROUP BERHAD ANNUAL REPORT 2019 | 2019 REPORT ANNUAL 1 VISION • To be the leading bore piling and bridge specialist in the markets we serve. MISSION • Providing innovative solutions that leverage on our capabilities as the preferred bore piling and bridge specialist in Malaysia. • To deliver sustainable value that determines a better future for all. OUR BUSINESS PHILOSOPHY & MODEL • Quality Products • Excellent Service • Maximising Stakeholders Return • Social Responsibilities • Safety, Health & Environment • Efficiency Driven • Employees Welfare • Teamwork • Innovations CORPORATE PROFILE Ikhmas Jaya Group Berhad (“IJGB” or the “Group”) was founded in 1992 by Dato’ Ang Cheng Siong (Group Managing Director), Dato’ Ir. Dr. Khoo Ping Sen (Executive Director), Siew Mun Lout (Executive Director) and Yap Yoon Fatt (Head of Plant Division). IJGB is principally involved in engineering and construction of piling and foundation, bridges and buildings. Since the Group’s establishment, IJGB has accumulated an extensive track record of completed projects for both the public and private sectors to a total contract value of approximately RM2.7 billion. IJGB is highly recognised in the industry for its diverse expertise and experiences across multiple discipline of engineering and has been involved in a number of high-profile projects such as the award-winning Putra and Prai Bridges, Klang Valley Mass Rapid Transit-Kajang Line, Kelana Jaya Light Rail Transit Extension, Paradigm Mall and KL Eco City just to name a few. Armed with its own in-house design and engineering professionals, IJGB is a competitive and formidable participant in the marketplace as a total multi-skilled solutions provider with a competitive edge and versatility to secure projects. TABLE OF CONTENTS Vision & Mission 01 Corporate Profile 39 Audit and Risk Management 02 Corporate Milestones Committee Report 03 Corporate Information 43 Statement on Risk Management and 04 Corporate Structure Internal Control 05 Directors’ Profile 46 Directors’ Responsibility Statement 09 Key Management’s Profile 47 Financial Statements 10 Group 5-Year Financial Highlights 137 Additional Compliance Information 11 Management Discussion & Analysis 138 List of Properties 15 Sustainability Statement 141 Analysis of Shareholdings 21 Corporate Governance Overview Statement CORPORATE MILESTONES a) Project completed for the following foundation and basement work: 2019 • Bukit Bintang City Centre • Symphony Crescent • Mayang Mall in Kuala Terengganu b) Project completed for the following foundation work: • OPUS, Kuala Lumpur 2018 a) Letter of award from Kerjaya Prospek (M) Sdn. Bhd. for a total contract value of RM78.00 million for subcontract works to execute and complete the Marine Bridge crossing the sea linking Jalan Seri Tanjung Pinang to STP2 Island, embankment at grade and all other associated civil engineering works for the proposed Seri Tanjung Pinang (Phase 2) Development (STP2), Pulau Pinang for Messrs Tanjung Pinang Development Sdn. Bhd. b) Letter of award from Kementerian Sumber Asli & Alam Sekitar / Jabatan Pengairan Dan Saliran Malaysia for a total contract value of RM101.85 million to undertake the project “Rancangan Tebatan Banjir Sungai Pendang, Kedah Darul Aman: Menaiktaraf Sungai Choras/Sungai Sala dan Struktur-struktur serta Kerja- kerja Berkaitan”. c) Letter of award from Putrajaya Ventures Sdn. Bhd. for a total contract value of RM58.75 million for the contract “Package 1: The Proposed Demolition works of existing 3 storey office building with a 2 level basement and 2 storey bungalow and proposed construction and completion of substructure works consist of a 2 level parking area at Basement 1, Basement 2 and partly level 1 and associated works on Lot 155, Jalan Ampang, Kuala Lumpur. d) Letter of award from Mudajaya Corporation Berhad for a total contract value of RM38.52 million to undertake subcontract bored piling works (Zone 2 and 3) for the Construction and Completion of Light Transit Rail Line 3 (LRT3) from Bandar Utama to Johan Setia Package GS01: guideway, stations, park and ride, ancillary buildings and other associated works. a) Letter of Award from MMC Engineering Services Sdn. Bhd. for RM13.85 million for Jacking 2017 Pits/Shaft using contiguous Bored Pile Method; and b) Awarded a RM33.81 million contract from Symphony Crescent Sdn. Bhd. for the construction and completion of piling and substructure work for 2 blocks of business tower 2016 a) Awarded a RM166.40 million contract to undertake the construction of a service apartment for Star Effort Sdn. Bhd. IKHMAS JAYA GROUP BERHAD b) Letter of award from Kayangan Kemas Sdn. Bhd. for a total contract value of RM65.30 million for sub-contract works for the construction of a bridge. c) Letter of award from Gallimont Development Sdn. Bhd. for a total contract value of RM173.50 million for the construction of a 49 storey block of serviced apartments. a) Listed on the Main Market of Bursa Malaysia Securities Berhad. 2015 b) Relocated and expanded our prefabricated buildings system manufacturing facility (“New ANNUAL REPORT 2019 | 2019 REPORT ANNUAL Manufacturing Facility”). c) Letter of award from MRCB Builders Sdn. Bhd. for a total contract value of RM161.12 million. 02 CORPORATE INFORMATION BOARD OF DIRECTORS Dato’ Ang Cheng Siong Lim Kean Lam Group Managing Director Independent Non-Executive Director Dato’ Ir. Dr. Khoo Ping Sen Leong Kah Mun Executive Director Independent Non-Executive Director Siew Mun Lout Yong Kok Yee Executive Director Independent Non-Executive Director Ang Wei Zhen Executive Director AUDIT & RISK MANAGEMENT HEAD OFFICE SHARE REGISTRAR COMMITTEE No. 35, 37 & 39, Jalan PJU 1A/41B Boardroom Share Registrars Chairman Pusat Dagangan NZX Ara Jaya, Sdn Bhd (378993-D) Leong Kah Mun 47301 Petaling Jaya, 11th Floor, Menara Symphony, Members Selangor Darul Ehsan No.5, Jalan Prof. Khoo Kay Kim, Lim Kean Lam Tel : (03) 7885 0626 / 0612 / 0691 Seksyen 13, 46200 Petaling Jaya, Yong Kok Yee Fax : (03) 7883 0720 Selangor Darul Ehsan Web : www.ikhmasjaya.com Tel : (03) 7890 4700 NOMINATION & E-mail : [email protected] Fax : (03) 7890 4670 REMUNERATION COMMITTEE Chairman STOCK EXCHANGE LISTING PRINCIPAL BANKERS Lim Kean Lam Main Market of Bursa Malaysia • AmBank (M) Berhad Members Securities Berhad • Bangkok Bank Berhad Leong Kah Mun • Malayan Banking Berhad Yong Kok Yee STOCK NAME/CODE • MBSB Bank Berhad IKHMAS/5268 • Pac Lease Berhad COMPANY SECRETARIES (A Member of OCBC Group) Cynthia Gloria Louis AUDITORS (MAICSA 7008306) KPMG PLT SSM PC No. 201908003061 (LLP0010081-LCA & AF0758) Chew Mei Ling Level 10, KPMG Tower (MAICSA 7019175) 8, First Avenue Bandar Utama SSM PC No. 201908003178 47800 Petaling Jaya, Selangor Daru Ehsan REGISTERED OFFICE Tel : (03) 7721 3388 IKHMAS JAYA GROUP BERHAD Unit 621, 6th Floor, Fax : (03) 7721 3399 Block A Kelana Centre Point No. 3, Jalan SS7/19 Kelana Jaya 47301 Petaling Jaya, Selangor Darul Ehsan Tel : (03) 7880 9699 Fax : (03) 7880 8699 ANNUAL REPORT 2019 | 2019 REPORT ANNUAL 03 CORPORATE STRUCTURE 100% IJ Geotechnic Sdn. Bhd. 100% Ikhmas Jaya 100% Sdn. Bhd. Ikhmas Equipment Sdn. Bhd. 60% BE Specialist Sdn. Bhd. 60% 100% MM2 Building MM2 Builders System Sdn. Bhd. Sdn. Bhd. 100% Exofield Property Management IKHMAS JAYA GROUP BERHAD Sdn. Bhd. ANNUAL REPORT 2019 | 2019 REPORT ANNUAL 04 DIRECTORS’ PROFILE DATO’ ANG CHENG SIONG DATO’ IR. DR. KHOO PING SEN Male • Malaysian • Aged 65 Male • Malaysian • Aged 68 Group Managing Director Executive Director (Appointed on 5 December 2013) (Appointed on 5 December 2013) As our Group Managing Director, Dato’ Dato’ Ir. Dr. Khoo Ping Sen is responsible Ang Cheng Siong is responsible for the for managing and supervising the design overall management, strategic planning and method of construction for all and business development of our Group. projects carried out by our Group. He is also responsible for the special projects He obtained his Diploma in Building undertaken by our Group and our Group’s Technology from Tunku Abdul Rahman business development. College (now known as Tunku Abdul Rahman University College) in 1980. He He graduated with a Bachelor of subsequently obtained his Master of Engineering degree with Honours from Business Administration (Finance) degree Monash University, Australia in 1975. He was from the University of Hull, United Kingdom granted the Monash University Graduate in 1992. Scholarship and pursued his doctorate degree at the same university and obtained He began his career in 1980 with Pembinaan his Doctor of Philosophy degree in Civil Leow Tuck Chui & Son Sdn. Bhd. as a Engineering majoring in structures in 1979. Quantity Surveyor and left in 1981. He then joined Syarikat Manong Sdn. Bhd. in 1981 He began his career in 1979 with Wan as a Site Supervisor. During his tenure Mohamed & Khoo Sdn. Bhd. as an Engineer. in Syarikat Manong Sdn. Bhd., he was He was promoted to the positions of Senior promoted to Senior Supervisor in 1983 and Engineer, Associate, Senior Associate and Site Agent in 1985. In 1988, he left Syarikat Director before he left the company in 1990. Manong Sdn. Bhd. and joined Ho Hup In 1990, he joined Ho Hup Construction Construction Company Sdn. Bhd. (now Company Sdn. Bhd. (now known as Ho known as Ho Hup Construction Company Hup Construction Company Berhad) as Berhad) as a Tender Manager. In 1992, he a Senior Project Manager, where he was set up Ikhmas Jaya. Subsequently in 1994, in charge of the Design Department and he left Ho Hup Construction Company Bore Piling Division. In 1997, he
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