Annual Report 2018
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gamuda.com.my GAMUDA BERHAD GAMUDA (29579-T) Annual Report 2018 Gamuda Berhad (29579-T) Menara Gamuda, Block D, PJ Trade Centre, No. 8, Jalan PJU 8/8A, Bandar Damansara Perdana, 47820 Petaling Jaya, Selangor Darul Ehsan, Malaysia. (603) 7491 8288 (603) 7728 9811 [email protected] gamuda.com.my Annual Report 2018 GAMUDA CONTENTS ANNUAL REPORT 2018 OVERVIEW OF LEADERSHIP & GAMUDA BERHAD STRUCTURE 2 Our Presence 01 44 Group Organisation Structure 03 4 Corporate Information 46 Profile of Board of Directors 6 Group Corporate Structure 55 Profile of Group Senior Management MANAGEMENT DISCUSSION & SUSTAINABILITY ANALYSIS 02 04 A. STRATEGIC REVIEW 62 Sustainability Statement 10 Statement from the Group Managing Director 74 Delivering Value through Innovation 19 Key Performance Indicators 80 Sustainable Cities and Communities 20 Value Creation Strategy 87 Human Capital Development 22 Material Matters & Key Risks B. PERFORMANCE REVIEW CORPORATE 24 Group Finance Director’s Statement GOVERNANCE 33 Five Years Group Financial Highlights 100 Corporate Governance Overview05 Statement 34 Summary of Five Years Financial Highlights 110 Training Programmes Attended by Directors 35 Group Segmental Performance 112 Statement on Risk Management and 36 Group Quarterly Performance Internal Control 38 Statement of Value Added and Distribution 115 Risk Management Committee Report 39 Share Performance 118 Audit Committee Report 40 Investor Relations 119 Statement on Internal Audit 42 Financial Calendar 120 Additional Compliance Information 43 Bonds and Credit Ratings 42nd AGM Annual General Meeting Venue: Date & Time: 42nd Annual General Meeting Kota Permai Golf Thursday, 6 December 2018 of Gamuda Berhad & Country Club 10.00 a.m. ACHIEVEMENTS SHAREHOLDER INFORMATION 122 Media Highlights 06 324 Analysis of Securities of Company08 124 Awards and Achievements 332 Issued Share Capital 335 List of Major Properties FINANCIAL 337 Notice of Annual General Meeting STATEMENTS 344 Administrative Details 128 Directors’ Responsibility Statement07 FORM OF PROXY 129 Directors’ Reports 139 Statement by Directors 139 Statutory Declaration 140 Independent Auditors’ Report 148 Consolidated Income Statement 149 Consolidated Statement of Comprehensive Income 150 Consolidated Statement of Financial Position 152 Consolidated Statement of Changes in Equity 154 Consolidated Statement of Cash Flows 156 Income Statement 157 Statement of Comprehensive Income 158 Statement of Financial Position 160 Statement of Changes in Equity View our Annual Report, accounts 161 Statement of Cash Flows and other information about Gamuda Berhad at www.gamuda.com.my 163 Notes to the Financial Statements GAMUDA BERHAD (29579-T) Our Presence Bahrain Qatar India Taiwan Vietnam Malaysia Singapore Australia Established in 1976, Gamuda has grown over the years to become MALAYSIA’S LEADING INFRASTRUCTURE and PROPERTY DEVELOPER. 01 Overview of 2 Gamuda Berhad ANNUAL REPORT 2018 Malaysia Taiwan Urban Rail Transport in Greater KL Inter-State Rail Transport Rail Transport – Klang Valley Mass Rapid Transit – Electrified Double Track – Kaohsiung Metropolitan Mass (KVMRT) Project (EDTP) (Ipoh-Padang Rapid Transit • Sungai Buloh-Kajang Line Besar) (Line 1) Qatar • Sungai Buloh-Serdang- World’s First Dual-Purpose Putrajaya Line (Line 2) Tunnel Public Infrastructure – Dukhan Highway – Stormwater Management and – Hamad International Airport First Digital IBS Factory in Malaysia Road Tunnel (SMART) – Gamuda Industrialised Building System (Gamuda IBS) Water Regulating Dam, Water Vietnam Treatment and Power Plant Property Development Property Development – Gamuda Water – Celadon City, Ho Chi Minh City – Gamuda Cove – SPLASH – Gamuda City, Hanoi – Gamuda Gardens – Sungai Selangor Dam – twentyfive.7 – Rasa & Bukit Badong Water Sewage Treatment Plant – Horizon Hills Treatment Plants (SSP1 & – Yen So Sewage Treatment Plant, Hanoi – Jade Hills SSP3) – Prai Power Station – Bukit Bantayan Residences Bahrain – Kundang Estates Bridges – Madge Mansions Urban Transformation in Penang – Sitra Causeway Bridges – The Robertson – Penang Transport Master – HighPark Suites Plan (PTMP) – Gamuda Walk India – Gamuda GM Klang Key Urban Links Public Infrastructure – Gamuda GM Bukit Bintang – Durgapur Expressway – Pan Borneo Highway package – Kota Kemuning – Panagarh-Palsit Highway (WPC-04) – Valencia – Kuantan Bridge – Bandar Botanic – Hospital Universiti Singapore – Gamuda Biz Suites Kebangsaan Malaysia Property Development – Lumut Naval Harbour – GEM Residences Key Intra-Urban Expressways and – North Butterworth Container – Anchorvale Highways in Greater KL Terminal – Damansara-Puchong Highway (LDP) Australia – Shah Alam Expressway (SAE) Property Development – Western Kuala Lumpur Traffic – 661 Chapel St., Melbourne Dispersal Scheme (SPRINT) 01 Overview of Gamuda Berhad 3 GAMUDA BERHAD (29579-T) Corporate Information YBHG DATO’ MOHAMMED HUSSEIN Chairman YBHG DATO’ LIN YUN LING Group Managing Director YBHG DATO’ IR HA TIING TAI Deputy Group Managing Director YTM RAJA DATO’ SERI ELEENA BINTI ALMARHUM SULTAN AZLAN MUHIBBUDDIN SHAH AL-MAGHFUR-LAH Non-Independent Non-Executive Director BOARD OF DIRECTORS YBHG TAN SRI DATO’ SETIA HAJI AMBRIN BIN BUANG Independent Non-Executive Director YM TUNKU AFWIDA BINTI TUNKU A.MALEK Independent Non-Executive Director PUAN NAZLI BINTI MOHD KHIR JOHARI Independent Non-Executive Director ENCIK MOHAMMED RASHDAN BIN MOHD YUSOF Alternate to Deputy Group Managing Director YBhg Dato’ Lin Yun Ling YBHG DATO’ UBULL DIN OM Alternate to Managing Director of Gamuda Engineering YBhg Dato’ Ir Ha Tiing Tai 01 Overview of 4 Gamuda Berhad ANNUAL REPORT 2018 AUDIT COMMITTEE INVESTOR RELATIONS • YM Tunku Afwida binti Tunku A.Malek (Chairperson) Mr Clarence Boudville • YBhg Dato’ Mohammed Hussein Menara Gamuda • Puan Nazli binti Mohd Khir Johari Level 17, Block D, PJ Trade Centre No. 8, Jalan PJU8/8A NOMINATION COMMITTEE Bandar Damansara Perdana • YBhg Dato’ Mohammed Hussein (Chairman) 47820 Petaling Jaya • YM Tunku Afwida binti Tunku A.Malek Selangor Darul Ehsan • Puan Nazli binti Mohd Khir Johari Tel : 603-7491 2682 Fax : 603-7726 6875 REMUNERATION COMMITTEE Email : [email protected] • YBhg Dato’ Mohammed Hussein (Chairman) PRINCIPAL BANKER • YTM Raja Dato’ Seri Eleena binti Almarhum Malayan Banking Berhad Sultan Azlan Muhibbuddin Shah Al-Maghfur-lah • YBhg Dato’ Lin Yun Ling SHARE REGISTRAR COMPANY SECRETARIES Tricor Investor & Issuing House Services Sdn Bhd (11324-H) • Ms Lim Soo Lye (LS 0006461) Unit 32-01, Level 32, Tower A • Ms Pang Siok Tieng (MAICSA 7020782) Vertical Business Suite COMPANY NO. Avenue 3, Bangsar South No. 8, Jalan Kerinchi 29579-T 59200 Kuala Lumpur DATE AND PLACE OF INCORPORATION Tel : 603-2783 9299 Fax : 603-2783 9222 6 October 1976, Malaysia Email : [email protected] REGISTERED OFFICE/CORPORATE OFFICE Web : www.tricorglobal.com Menara Gamuda Tricor’s Customer Service Centre D-16-01, Block D, PJ Trade Centre Unit G-3, Ground Floor, Vertical Podium No. 8, Jalan PJU8/8A Avenue 3, Bangsar South Bandar Damansara Perdana No. 8, Jalan Kerinchi 47820 Petaling Jaya, Selangor Darul Ehsan 59200 Kuala Lumpur Tel : 603-7726 9210 Fax : 603-7728 9811 STOCK EXCHANGE LISTING Email : [email protected] Main Market of Bursa Malaysia Securities Berhad Web : www.gamuda.com.my Stock Code: Gamuda Stock No: 5398 AUDITORS Messrs Ernst & Young (AF: 0039) LISTING DATE Chartered Accountants 10 August 1992 Level 23A, Menara Milenium Jalan Damanlela Pusat Bandar Damansara 50490 Kuala Lumpur 01 Overview of Gamuda Berhad 5 GAMUDA BERHAD (29579-T) Group Corporate Structure CONSTRUCTION Domestic • Gamuda Engineering Sdn Bhd 100% • SRS Consortium Sdn Bhd 60% • Gamuda M&E Sdn Bhd (formerly known as • MMC-Gamuda Joint Venture Sdn Bhd 50% Semarak Kuasa Sdn Bhd) 100% • MMC Gamuda KVMRT (PDP) Sdn Bhd 50% • Gamuda Building Ventures Sdn Bhd (formerly • MMC Gamuda KVMRT (T) Sdn Bhd 50% known as Imbangan Integrasi Sdn Bhd) 100% • MMC Gamuda KVMRT (PDP SSP) Sdn Bhd 50% • Gamuda Geo Sdn Bhd (formerly known as • MRCB Gamuda Sdn Bhd (formerly known as GL (MM2H) Sdn Bhd) 100% Lambang Perkasa Sdn Bhd) 50% • Masterpave Sdn Bhd 100% • Naim Gamuda (NAGA) JV Sdn Bhd 30% • Gamuda Trading Sdn Bhd 100% • Lim Hoo Seng-Gamuda Engineering (Stonor 3) JV 50% • Ganaz Bina Sdn Bhd 100% • Lim Hoo Seng-Gamuda Engineering (SCM) JV 50% • Gammau Construction Sdn Bhd 100% • GME-CI (GIBS2) JV 55% • Megah Sewa Sdn Bhd 100% • GME-CI (Serai) JV 55% • Gamuda Naim Engineering and Construction • Lim Hoo Seng-Gamuda Engineering JV 30% (GNEC) Sdn Bhd 65% International • Gamuda-WCT (India) Private Limited 70% Digital IBS and Quarrying Investment and others • Gamuda Industrial Building System Sdn Bhd 100% • Gamuda (Offshore) Private Limited 100% • G. B. Kuari Sdn Bhd 100% • Gamuda Overseas Investment Ltd 100% • Megah Management Services Sdn Bhd 100% • Gamuda Paper Industries Sdn Bhd 95% PUBLIC COMPANY LIMITED BY GUARANTEE Yayasan Gamuda Provides funds or support to Malaysian individuals by way of scholarships, grants, donations and other forms of financial assistance for educational, research and charitable purposes. Enabling Academy, through funding by Yayasan Gamuda, conducts an employment transition programme that trains and places young adults with autism into companies. 01 Overview of 6 Gamuda Berhad ANNUAL REPORT 2018 PROPERTY Property Development Domestic • Gamuda Land Sdn Bhd 100% • Madge Mansions Sdn Bhd 100% • Bandar Serai Development Sdn Bhd 100% • Valencia Development Sdn Bhd 100% • Dinamik Atlantik Sdn Bhd 100% • Gamuda Land Leisure Sdn Bhd 100%