2013 Annual Report Cultivating Collaboration Delivering More Value Iris Corporation Berhad (302232-X)
Total Page:16
File Type:pdf, Size:1020Kb
IRIS CORPORATION BERHAD (302232-X) 2013 ANNUAL REPORT Cultivating Collaboration Delivering more value IRIS CORPORATION BERHAD (302232-X) IRIS SMART TECHNOLOGY COMPLEX TECHNOLOGY PARK MALAYsiA BUKIT JALIL 57000 KUALA LUMPUR, MALAYsiA TEL +603 8996 0788 FAx +603 8996 0441 www.iris.com.my LiST OF CONTENTS CORPORATE REVIEW Corporate Profile ................................................................. 14 Profile of Directors .............................................................. 32 Corporate Structure ............................................................ 14 Key Management Team ...................................................... 38 Global Presence .................................................................. 15 Corporate Social Responsibility ........................................... 39 Chairman’s Statement ......................................................... 16 Calendar of Events .............................................................. 40 Operations Review .............................................................. 21 Statement on Corporate Governance ................................... 42 Group Financial Summary ................................................... 29 Audit Committee Report ...................................................... 48 Corporate Information ......................................................... 30 Statement on Risk Management and Internal Control ............ 52 Awards & Recognition ........................................................ 31 Statement of Directors’ Responsibilities ............................... 54 Additional Compliance Information ...................................... 55 FiNANciAL STATEMENTS Directors’ Report ................................................................ 58 Statements of Comprehensive Income ................................. 70 Statement by Directors ....................................................... 64 Statements of Changes in Equity ......................................... 72 Statutory Declaration .......................................................... 64 Statements of Cash Flows ................................................... 75 Independent Auditors’ Report ............................................. 65 Notes to the Financial Statements ....................................... 78 Statements of Financial Position .......................................... 67 OTHER INFORMATION Statistics on Shareholdings ............................................... 155 Statement Accompanying Notice of Nineteenth Notice of Nineteenth Annual General Meeting ................... 165 Annual General Meeting ................................................... 168 PROXY FORM 20 yearssustainable of creating value “Cultivating collaboration, Delivering more value” and the journeyis the theme ofgoes our 2013 annual on… report – and one of the main themes underlying how we conduct business. As we expand our market presence and pursue attractive growth opportunities throughout the world, we are committed to sustaining our focus on operational excellence, disciplined cost and asset management, and unparalleled customer service. We intend to do all these better while remaining grounded in bedrock values such as innovation and integrity that have shaped our character and sustained our success for two decades. We not only encourage innovation, we also cultivate collaborative work cultures on various levels – bringing together the best in technologies to create new solutions and bringing together the finest and brightest individuals to build a solid workforce. IRIS’ future rests on a foundation of enduring principles, regardless of the scope of our aspirations or the scale of our achievements. Our core values – passion, assertion, genuineness, innovation and compassion – have sustained the loyalty of our customers and are a source of inspiration for hundreds of talented employees, faithful partners and trusted suppliers. These values also have supported our solid business performance that has resulted in strong revenues over many years. As IRIS continues expanding, we reaffirm our dedication to our values and recognise their vital role in our continuing journey of success. 2 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE 3 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE BHUTAN COUNTRYSIDE DELIVERING MORE VALUE Bhutan: Kingdom in the Clouds 3rd GENERATION CITIZENSHIP IDENTITY (CID) CARD, 480,000 HIGHLY-DURABLE ID CARDS, POLYCARBONATE LASER- ENGRAVED & CARRYING NEWEST SECURITY FEATURES While most of mountainous Bhutan’s sacred temples, dazzling rice fields, and villages remain unchanged by time, the forward-looking Royal Government of Bhutan began rolling out the nation’s 3rd generation citizenship identity card mid-2012. Bhutan chose to use highly-secure polycarbonate laser-engraved ID cards armed with an assortment of world-class security features including rainbow effect printing, Guilloche, hologram, UV image, 2D barcode biometrics and more. IRIS, with proven smart card manufacturing expertise, demonstrated ability to deliver within highly ambitious schedules, and long-established presence as the Trusted Identification solutions provider, was selected by the Department of Civil Registration and Census of the Ministry of Home and Cultural Affairs to manufacture and deploy 480,000 CIDs. IRIS’ highly durable polycarbonate card and field proven contactless chip technology, laser-engraving personalisation equipment, secure document lifecycle management systems and software were selected to complete Bhutan’s virtually tamper proof eID system. 4 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE DELIVERING MORE VALUE Syarikat Prasarana Negara Berhad (Prasarana) Automatic Fare Collection (AFC) RM178.3 MILLION AFC CONTRACT, ELECTRONIC TICKETING MACHINES (ETM9000), TICKET VENDING MACHINES (TVM), AUTOMATIC CONTROL GATES (ACG) Prasarana, the wholly-owned Government Company mandated to transform Malaysia’s public transport system, operates three rail networks Light Rail Transit (LRT) and KL Monorail, and the bus services of RapidKL, RapidPenang and RapidKuantan. In early 2012, all three rail networks were unified with the introduction of a new RM178.3 million automatic fare collection (AFC) system, MyRapid card. Currently, daily ridership for the three rail services stands at 420,000 and plans are underway to increase that to over half a million and beyond via the Government’s RM10 billion plan to expand Kuala Lumpur’s public transport network. Prasarana recently awarded INDRA-IRIS AFC Consortium a new RM57.6 million contract to supply additional AFC systems equipment – including 350 units ETM 9000 and supporting TVMs & ACGs. IRIS TICKET VENDING MACHINES 5 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE 6 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE 7 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE DELIVERING MORE VALUE Money Back Guarantee Fruit Shops Premium Fresh Fruit Retail SUPERIOR QUALITY GOLDEN MELONS AND ROCK MELONS, CONSISTENT YIELDS OF COmmERCIAL SIZED, 16°BRIX FRUIT, FARMED ENTIRELY USING IRIS AUTOPOT SYSTEMS Everyday Fresh! That is one promise that MBG never fails to deliver. Originally a single fruit stall, today MBG has 20 outlets throughout Klang Valley, serving over 4 million satisfied customers per year. BM G stands for Money Back Guarantee. Every customer gets the best fruits from MBG. For over 5 years, IRIS has been supplying top grade, 16°Brix (sweetness) golden melons and rock melons to MBG. We continually work with MBG to deliver on their “Everyday Fresh” and “Money Back Guarantee” promises. Together with MBG, we aim to provide healthy fruits for a healthy society. GOLDEN MELONS GROWN IN IRIS AUTOPOT SYSTEMS 8 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE DELIVERING MORE VALUE Provincial Electricity Authority (PEA) Thailand Waste-to-Energy Incineration Plant, Phuket CONVERTING UP TO 700 TONNES OF WASTE DAILY, GROSS POWER GENERATION OF 10 MEGAWATTS (MW), CONTRIBUTING 8MW TO THE ISLAND’S GRID Long touted as Thailand’s number one island destination, Phuket lures visitors from all over the world with its sun drenched beaches, lush mountains, and pristine islands. To safeguard Phuket’s natural environments, authorities there have committed to incorporating cleaner and greener alternatives to the island’s waste disposal system. In 2012, Phuket’s municipality chose IRIS’ unit PJT to invest, design, construct and manage the 14,400 sq ft Municipal Solid Waste to Energy Power Plant for 15 years on a build-operate-transfer concession. The plant was commissioned in November 2012, creating 100 new jobs and incinerating 700 tonnes of municipal solid waste daily. Diversion of 19 provincial units’ municipal solid waste to the waste-to-energy facility has reduced the city’s dependence on its landfill. Waste is incinerated 24/7, generating up to 10MW of electricity and supplying 8MW to the grid – sold to the Provincial Electricity Authority (PEA) under their VSPP (Very Small Power Producer) programme. PHUKET MUNICIPAL WASTE-TO-ENERGY INCINERATION PLANT 9 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE 10 Iris CorPoratioN BERHAD ANNUAL REPORT 2013 DELIVERING MORE VALUE 3 STOREY GUEST COTTAGES DELIVERING MORE VALUE Ambong Ambong Langkawi Hillside Rainforest Retreat TRIPLE STOREY GUEST COTTAGES ENTIRELY BUILT USING IRIS KOTO INDUSTRIALISED BUILDING SYSTEM, NO PILE, FAST CONSTRUCTION ON STEEP TERRAIN