Annual Report 2019
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BUSINESS FOOTPRINT Nu Penang mb er o Contract Value f P (RM ‘mil) r o Sabah Contract Value Kelantan j N e 1 c u t 587 (RM ‘mil) m s b e r VIZIONE AT A GLANCE 90 o 4 Contract Value f P r N (RM ‘mil) o u je m ct b s e 1 62 r Selangor o f Pr oj ects Contract Value (RM ‘mil) Revenue Operating Profit Profit before tax Profit after tax 2,234 N u m b e r 10 o RM RM RM RM f P ro je 594 97 86 63 cts RM 2.26 Bil RM 2.97Bil 16 million million million million Outstanding Order Book Contract Value Projects In Hand Cummulative Quarterly Performance Share Price & Market Capitalisation Value Added 2019 Revenue 2018 Share Price SUSTAINABILITY (RM) Q1 Volume(Million) RM32.4 Market 1.2 Million Q2 80 Capitalisation (Million) 1.1 Q3 1.0 Q4 70 650 RM RM 0.9 RM (milion) 600 500 400 300 200 100 100 200 300 400 500 600 (milion) 60 600 22.3 0.8 million Profit Before Tax 50 550 0.7 2019 2018 ET 2019 Q1 RK C 0.6 RM10.1million Distribution A A 40 P 500 M 543 Q2 milion 0.5 3 y Q3 30 1st M a 450 0.4 RM14.5 Million Q4 0.3 20 400 RM RM 100 80 60 40 20 20 40 60 80 100 0.2 (million) (million) 10 350 0.1 0 300 0.0 RM 8.1 5 Years Performance million Jul-18 Jul-19 Jan-19 Apr-19 Jun-18 Jun-19 Oct-18 Mar-19 Feb-19 Sep-18 Dec-18 Aug-18 Nov-18 Aug-19 May-19 2018 RM6.4 million Distribution Volume(Million) Market Capitalisation Share Price (RM) Profit / (Loss) before taxation Revenue 2015 Employees Compensation Tax paid 2016 2017 2018 Business Segmental Profile 2019 RM RM Total Number of Number of Total 100 80 60 40 20 100 200 300 400 500 600 Order Book Project 2019 2018 Project Order Book (million) (million) 12.3% 15.1% RM RM 875 3 Infrastructure 4 656 29.4% Projects Projects 16 16.8% 23 Distribution of Equity RM Government Housing Scheme RM 6% 2% RM2.97 365 4 7 589 RM3.91 Billion Billion 250 Million 1,202 Million 58.3% 68.1% RM 1,733 9 Private Commercial 12 RM 2,661 Malaysian Bumi 33% 280 Million 2,418 Million 44% 2019 Malaysian Non-Bumi 2018 % 50 32 Million 77 Million Foreign 65% Number Of Shares Net Tangible Asset Share Price P/E Ratio Earnings Per Share Returns On Equity RM RM TOTAL 562.29 0.928 0.965 8.32 11.60 sen 12.15% 562 Million 3,697 Million million Per Share 31 May 2019 1 Vizione Holdings Berhad Annual Report 2019 2 CONTENTS ABOUT VIZIONE HOLDINGS BERHAD CORPORATE OVERVIEW About Vizione, Vision and Mission 04 Vizione Holdings Berhad is a full-fledged integrated construction Corporate Milestone 05 engineering company. Vizione’s full spectrum of capabilities Group Corporate Information 07 covers the entire value chain of civil engineering, infrastructure Group Corporate Structure 08 construction, property development, residential and mix used property development. With a dedicated workforce, comprehensive assets and project management capabilities, Vizione’s presence MANAGEMENT DISCUSSION AND ANALYSIS can be seen in various parts of Malaysia. The Group was formerly Chairman Statement 11 known as Astral Supreme Berhad and changed its name to Vizione Managing Director Strategic Operational Review 17 Holdings Berhad in September 2016. Vizione Holdings Berhad was Chief Financial Officer Strategic Financial Review 31 incorporated in 1965 and is based in Kuala Lumpur, Malaysia. LEADERSHIP Board of Directors 41 Profile of Board of Directors 43 Senior Leadership Team 51 Profile of Senior Leadership Team 53 SUSTAINABILITY STATEMENT Sustainability Committee Chairman Message 57 Sustainability Approach 59 VISION To be the diversified conglomerate with an outstanding reputation Sustainability Materiality 63 for quality and innovation. Sustainability Achievements 65 CORPORATE GOVERNANCE Corporate Governance Overview Statement 85 Statement of Risk Management and Internal Control 89 MISSION Audit Committee Report 92 Our Group, consists of an accomplished team of experienced professionals in key positions, provide a full range of property Internal Audit Function 95 development and construction services to both the public and Additional Compliance Information 96 private sectors through dedicated partnerships and relationships, Statement of Directors’ Responsibility 98 adding value through insight and effective strategy. In pursuing the mission, our Group:- REPORTS AND FINANCIAL STATEMENTS 99 • Provides a rewarding working environment which fosters ADDITIONAL INFORMATION innovation, teamwork, continuous improvement and career Shareholdings Statistics 170 advancement, while respecting and promoting individual and Notice of Annual General Meeting 177 family values. Proxy Form 182 • Delivers sustainable returns to our shareholders. • Constantly upgrades skills and professionalism and excels in our core businesses. • Builds strong relationships with strategic partners and consistently delivers excellent service. • Actively supports the communities through CSR programs. 3 Vizione Holdings Berhad Annual Report 2019 4 CORPORATE MILESTONE 2016 - 2018 • Changed name to Vizione Holdings Berhad (“Vizione”) in September 2016. • Changed Bursa sector from Industrial Products to Construction in 2016. • Completed the acquisition of Wira Syukur (M) Sdn Bhd (“WSSB”) for RM280 million on 9 Oct 2017 through a cash consideration of RM172.6 million and 976.2 million in new issued Vizione shares at RM0.11 per share. • Raised RM207.5 million via Private Placement through the issuance of 1,687 million (200%) new shares at an issue price of RM0.123 per share in 2017. • Proposed up to 406.71 million (10%) new share placement and completed 1st tranche private placement of 155.3 million shares at RM0.14 in April 2018 at a value of RM21.7 million. • Shareholder approval obtained for the share consolidation of 7:1 in Sept 2018. 1997-2015 • Listed on Bursa Main Board as Astral Supreme Berhad (“ASB”) . • Principal activity was electronic manufacturing. • Dato’ Ng Aun Hooi was appointed as the Managing Director 2016 2017 2018 2019 • Wira Syukur (M) Sdn Bhd achieving profit guarantee of RM 85.9 milion. • Acquisition of share in Pembinaan Angkasa Permai Sdn. Bhd. for consideration of RM 7 milion. • Vizione Holdings Berhad sealed a Memorandum of Collaboration with 2019 Engineering Protocol Sdn Bhd for Large Scale Solar Photovoltaic Plants (LSS) project bidding amounting to RM 2 billion. 5 Vizione Holdings Berhad Annual Report 2019 6 GROUP CORPORATE INFORMATION Group Corporate Structure BOARD OF DIRECTORS Vizione Chairman Holdings Dato’ Mohd Zaihan bin Mohd Zain Independent Non-Executive Director Berhad Member Dato’ Ng Aun Hooi Auditors Share Registrar Managing Director UHY (AF1411) ShareWorks Sdn Bhd Suite 11.05, Level 11, No. 2-1, Jalan Sri Hartamas 8 Bee Jian Ming The Gardens South Tower, Sri Hartamas Executive Director Mid Valley City, 50480 Kuala Lumpur Lingkaran Syed Putra, Wilayah Persekutuan (KL) Chan Chee Wing 59200 Kuala Lumpur. Tel : (03) 6201 1120 Executive Director Fax : (03) 6201 3121 Company Secretaries Dato’ Ir Mohamad Shokri bin Abdullah Wong Yuet Chyn (MAICSA 7047163) Registered Office Building & Property Senior Independent Non-Executive Lee Wee Hee (MAICSA 0773340) No. 2-1, Jalan Sri Hartamas 8 Construction Development Director Sri Hartamas Audit Committee 50480 Kuala Lumpur Wira Syukur (M) Infrastructure Vizione Development Ng Fun Kim Ng Fun Kim (Chairman) Wilayah Persekutuan (KL) Sdn Bhd Sdn Bhd Independent Non-Executive Director Dato’ Ir Mohamad Shokri bin Abdullah Tel : (03) 6201 1120 (Wholly Owned Subsidiary) (Wholly Owned Subsidiary) Dato’ Mohd Zaihan bin Mohd Zain Fax : (03) 6201 3121 Vizione Construction Y.M. Syed Haizam Hishamuddin Sdn Bhd (Wholly Owned Subsidiary) Putra Jamalullail Nomination Committee Corporate Office Non-Independent Non-Executive Dato’ Ir Mohamad Shokri bin Abdullah Level 22, PJX – HM Shah Tower, 60% 40% Director (Chairman) No.16A, Persiaran Barat, Dato’ Mohd Zaihan bin Mohd Zain 46050 Petaling Jaya, Zenith Urban Mahsyur Gemilang Ng Fun Kim Selangor, Malaysia. Development 50% Development Tel : (03) 8605 3355 Sdn Bhd Sdn Bhd Remuneration Committee Fax : (03) 8605 3688 Buildmarque Dato’ Ir Mohamad Shokri bin Abdullah Construction (Chairman) Stock Exchange Sdn Bhd Dato’ Ng Aun Hooi Main Market of Bursa Malaysia Ng Fun Kim Securities Berhad 50% 100% Stock name : VIZIONE Wira Syukur Pembinaan Principal Bankers Stock code : 7070 Wibawa Angkasa Permai Malayan Banking Berhad Sdn Bhd Sdn. Bhd AmBank (M) Berhad Company Website United Overseas Bank (Malaysia) Bhd www.vizione.com.my 7 Vizione Holdings Berhad Annual Report 2019 8 MANAGEMENT DISCUSSION & ANALYSIS 9 Vizione Holdings Berhad Annual Report 2019 10 CHAIRMAN STATEMENT Dear Shareholders Vizione Holdings Berhad (“Vizione” or “Group”) performed admirably in Financial Year 2019. We delivered commendable financial and operational performances, expanded our business segments and market share, made solid inroads into new markets and grew the order book and value of the Company. Vizione has been transformed into one of the largest integrated construction company. We have established an ambitious and clear strategic direction to provide shareholders with good returns while contributing to sustainable growth. Dato’ Mohd Zaihan bin Mohd Zain Chairman 11 Vizione Holdings Berhad Annual Report 2019 12 Our resilience, endurance and sustainability have allowed million for FY2019. In the upheaval tasks of combating Strong corporate governance, underscored by a sound us to waddle through challenging times. The board is in a competitive operating environment, our business culture, is fundamental to our success and helps to ensure confident that Vizione is moving forward with a sense segments reported commendable performances in that we can meet our business goals and generate value of determination towards solidifying our position in the FY2019. The Group’s financial fundamentals remained over the longer term. During the year under review, Sunway Gandaria Bangi construction and property sectors.