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Working Together for a Better Tomorrow

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Working Together for a Better Tomorrow ANNUAL REPORT 2014 WORKING TOGETHER FOR A BETTER TOMORROW VISION ANNUAL GENERAL MEETING We aim to lead the region in innovative breakthrough solutions for Permai Room, Kota Permai large scale public infrastructure and property development. Golf & Country Club, No. 1, Jalan 31/100A, Kota Kemuning, Section 31, 40460 Shah Alam, Selangor Darul Ehsan. Thursday, 4 December 2014 at 10.00 am. MISSION We reliably deliver innovative world-class infrastructure and premier lifestyle properties for our customers through our core businesses in infrastructure development and construction, operation of infrastructure facilities and property development. COVER RatIONALE Innovation is at the heart of all our endeavours. Inspired by the VALUES increasingly urbanised, diverse and rapidly growing community TAKE PERSONAL owNERSHIP: that we live in, we continuously A-card holders must take charge and deliver look forward to creative solutions that drive our nation WALK THE TALK: forward. After almost four show the right values and be a role model decades, we remain steadfast in our mission to build a better ADOPT OPEN, HONEST COMMUNIcatION: tomorrow and enrich lives for for effective decisions and results many decades to come. DEMONSTRATE REAL TeamworK: break silos, work together across divisions DEVELOP OUR PeoPLE: through mentoring and understudy for all-round skills development CONTENTS 06 OUR JOURNEY 82 CORPORATE RESPONSIBILITY Corporate Profile Marketplace Group Awards & Achievements Workplace Corporate Milestones Environment In the News Community On the Regional Front Calendar of Events Chairman’s Perspective Prospect for Financial Year 2015 120 CORPORATE GOVERNANCE Corporate Governance Statement 20 PERFORMANCE REVIEW Statement on Risk Management and Internal Control Group Financial Highlights Audit Committee Report Five-Year Financial Highlights Other Disclosures Share Price Information Group Quarterly Financial Performance 137N FI ANCIAL StatemeNTS & OTHERS Group Segmental Performance Directors’ Report Financial Calendar Statement by Directors Bond & Credit Ratings Statutory Declaration Independent Auditors’ Report 28 OPERATIONS REVIEW Consolidated Income Statement Core Business Consolidated Statement of Comprehensive Income Engineering and Construction Consolidated Statement of Financial Position Property Development Consolidated Statement of Changes in Equity Infrastructure Concessions Consolidated Statement of Cash Flows Income Statement Statement of Comprehensive Income 66 CORPORATE INformatION Statement of Financial Position Group Organisation Structure Statement of Changes in Equity Board of Directors Statement of Cash Flows Directors’ Profile Notes to the Financial Statements Corporate Data Supplementary Information Corporate Structure Statement of Directors’ Interests Shareholders’ & Warrantholders’ Information List of Major Properties PAGE30 PAGE PAGE54 PAGE62 6 Gamuda Berhad (29579-T) • annual report 2014 Determined to meet the demands of urbanisation, we aspire to enhance connectivity and improve the living standards of our community. KVMRT underground works, Inai Launch Shaft. Gamuda Berhad (29579-T) • annual report 2014 7 1 2 3 4 1. Completed MRT guideway at KVMRT Elevated Package V4 along the SPRINT Highway. 2. The 329km Electrified Double Track Project (Ipoh-Padang Besar), which links suburbs and major cities in the four northern states of Perak, Penang, Kedah and Perlis, was fully completed in November 2014. 3. The SMART Ronda team manages traffic in the SMART motorway tunnel 24 hours a day. 4. Valencia is Malaysia’s only residential development that offers a private residents-only golf course and clubhouse in a luxurious resort-style setting. 8 Gamuda Berhad (29579-T) • annual report 2014 Corporate Profile T ODAY, GAMUDA garnerS A MARKET Founded in 1976, Gamuda has The name behind Malaysia’s CAPITAlisatioN oF RM11 bIllIoN (AS grown from a construction-based foremost award-winning townships, enterprise to become Malaysia’s Gamuda Land’s strong track record AT 31 July 2014), placing US AS THE leading infrastructure and property of building holistic, sustainable LARGEST ENGINEERING AND CONSTRUCTION developer. communities for the last two COMPANY ON BURSA MalaySIA. decades has created a following Leveraging on our core of discerning homebuyers who competencies in engineering have come to appreciate its and construction, property and world-class quality and innovative township development, as well masterplanning. as infrastructure concessions, Gamuda has built some of the most To date, Gamuda Land has built iconic award-winning infrastructure more than 14,000 homes in our solutions that have transformed integrated lifestyle townships and communities in Malaysia, Southeast boutique developments. Asia and the Middle East regions. Helping to realise Malaysia’s Constantly expanding on our horizon infrastructure blueprint remains and capabilities, we have grown our primary agenda, which led Future Semantan MRT Station for Klang Valley Mass Rapid Transit (Sungai Buloh – Kajang Line). from a bridge, road and marine Gamuda to be among the biggest engineering specialist to become infrastructure concessionaires in Malaysia’s largest infrastructure the country. construction and property development company by market We operate and maintain 230km capitalisation in Bursa Malaysia of urban highways that serve more today, pioneering engineering than two million road users each innovation and delivery strategy in day. We also treat and supply the industry. potable water for more than two million residents in Selangor, and A strategic progression from our the Federal Territories of Kuala infrastructure expertise, Gamuda Lumpur and Putrajaya. ventured into property development New Doha International Airport (NDIA), Qatar. through Gamuda Land, renowned as Moving forward, we will continue a leading property developer in the to provide more breakthrough country with significant presence in engineering solutions and key growth areas in Greater Kuala innovative property products to Lumpur, Selangor, and Iskandar enrich and improve the lives of the Malaysia, as well as Vietnam. communities we operate in. Horizon Hills, Iskandar Malaysia, Johor. Gamuda Berhad (29579-T) • annual report 2014 9 Group Awards & Achievements GamUDA BERHAD GamUDA LAND • Highest Profit Growth Company (Construction), The Edge billion Ringgit • Gamuda land, The Edge Malaysia Top Property Club Awards 2014 & 2013 Developers Awards, The Edge Malaysia Property • MbAM Honorary builder – Master builders Association Malaysia Excellence Awards (2012 – 2014) Awards 2014 • Horizon Hills & bandar botanic (2014), bandar • overall best Managed Company in Malaysia – Mid Cap, Asia Money botanic & Kota Kemuning (2013), Kota Kemuning Awards 2013 & Horizon Hills (2012), The Edge Malaysia - PEPS • best Performing Stock (Construction), The Edge billion Ringgit Club Value Creation Excellence Award, The Edge Awards 2013 Malaysia Property Excellence Awards • Gamuda berhad, Property & Construction Sector, Malaysia’s 100 Leading Graduate Employers 2012 • Horizon Hills, Jade Hills, Valencia & Yen So • Asia’s best Managed Companies, Euromoney Park, Property Developer Category for Excellent • best Under a billion 200 Companies, Forbes Global Landscape Planning & Development, Malaysia • Gamuda berhad, best Managed Company and Strongest Commitment Landscape Architecture Awards, Institute of to Enhancing Shareholder Value, FinanceAsia landscape Architects Malaysia (IlAM) • Kaohsiung MRT, Air Quality Protection Model Award, The Environmental • Kota Kemuning Hillpark, landscape Community Bureau of Kaohsiung Country Government, Republic of China Park Award, Selangor State Government • bandar botanic, Engineering Awards, Association of Consulting Engineers Malaysia • Kota Kemuning, Planning, Innovation and Concept MMC-GamUDA JOINT VENTURE Award, Malaysian Institute of Planners • Electrified Double Track Project (EDTP) (Ipoh – Padang besar), • bandar botanic, best Master Plan, International Construction Category, National Occupational Safety and Health Real Estate Federation FIABCI Property Award of (oSH) Excellence Award 2012 Distinction • SMART, United Nations Scroll of Honour Award, World Habitat Day • Kota Kemuning, best Maintained Township Award, • SMART, Specialised Project (Purpose built) Category, Runner Up, Ministry of Housing and Local Government FIABCI Prix d’Excellence Awards, International Real Estate Federation • Kota Kemuning Wetlands Park, Urban Re- (FIAbCI) development, Conservation and Rehabilitation • SMART, best International Project, british Construction Industry Award Award, Malaysian Institute of Planners • SMART, Design & Construction Excellence Award, Institution of • Kota Kemuning, bandar botanic, Valencia, Engineers Malaysia Horizon Hills, Jade Hills, Top Rated on CONQUAS • SMART, Special Award for National Contribution, Malaysia Property for Landed Residential and Institutional Buildings, Award, International Real Estate Federation (FIAbCI), Malaysian Chapter BCA of Singapore • SMART, best Contractor Award, CIDb Malaysian Construction Industry Excellence Award • SMART, Special Award for Innovation, CIDb Malaysian Construction Industry Excellence Award • SMART, Special Award for Environment, CIDb Malaysian Construction Industry Excellence Award Corporate Milestones 1976 1996 1999 2000 2002 2005 Gamuda was born First intra-urban highway First tunnelling First foray into water World’s first First highway Gamuda was incorporated as a private in the Klang Valley experience treatment and
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