Annual Report 2018 /19 ANNUAL REPORT 2018/19 Malaysia Company No. : 995098-A Malaysia Stock Code : 5090 Hong Kong Stock Code : 685 CONTENTS Corporate Information 02 Profile of Board of Directors 04 Profile of Senior Management 09 Chairman’s Statement 12 Management Discussion and Analysis 15 Major Awards of the Year 19 Significant Events 25 Sustainability Report 29 Corporate Governance Overview Statement 45 Statement of Directors’ Responsibilities in relation to the Financial Statements 67 Statement on Risk Management and Internal Control 68 Audit Committee Report 73 Report of the Directors 77 Independent Auditor’s Report 85 Consolidated Statement of Profit or Loss 89 Consolidated Statement of Comprehensive Income 90 Consolidated Statement of Financial Position 91 Consolidated Statement of Changes in Equity 93 Consolidated Statement of Cash Flows 95 Notes to the Financial Statements 96 Additional Compliance Information 173 Five-Year Financial Summary 174 Additional Information 175 Analysis of Shareholdings 182 List of Properties 185 Notice of the 29th Annual General Meeting 186 Corporate 02 Information NON-EXECUTIVE DIRECTOR JOINT COMPANY SECRETARIES Dato’ Sri Dr TIONG Ik King (Chairman) Ms TIN Suk Han Ms TONG Siew Kheng EXECUTIVE DIRECTORS PRINCIPAL BANKERS Ms TIONG Choon Mr TIONG Kiew Chiong Bank of China (Hong Kong) Limited (Group Chief Executive Officer) Malayan Banking Berhad Mr LEONG Chew Meng OCBC Bank (Malaysia) Berhad OCBC Wing Hang Bank Limited INDEPENDENT NON-EXECUTIVE Public Bank Berhad DIRECTORS RHB Bank Berhad Mr YU Hon To, David AUDITOR Datuk CHONG Kee Yuon Mr KHOO Kar Khoon PricewaterhouseCoopers GROUP EXECUTIVE COMMITTEE STOCK CODE Mr TIONG Kiew Chiong (Chairman) The Stock Exchange of Hong Kong Limited 685 Mr LEONG Chew Meng Bursa Malaysia Securities Berhad 5090 Mr NG Kait Leong Mr WONG Khang Yen WEBSITE AUDIT COMMITTEE www.mediachinesegroup.com Mr YU Hon To, David (Chairman) Datuk CHONG Kee Yuon Mr KHOO Kar Khoon REMUNERATION COMMITTEE Datuk CHONG Kee Yuon (Chairman) Mr YU Hon To, David Mr KHOO Kar Khoon Mr TIONG Kiew Chiong Mr LEONG Chew Meng NOMINATION COMMITTEE Mr KHOO Kar Khoon (Chairman) Mr YU Hon To, David Datuk CHONG Kee Yuon MEDIA CHINESE INTERNATIONAL LIMITED (MALAYSIA COMPANY NO. 995098-A) Corporate Information 03 HONG KONG HEAD OFFICE AND PRINCIPAL REGISTRAR AND PRINCIPAL PLACE OF BUSINESS TRANSFER OFFICE 15th Floor, Block A MUFG Fund Services (Bermuda) Limited Ming Pao Industrial Centre The Belvedere Building 18 Ka Yip Street 69 Pitts Bay Road Chai Wan Pembroke HM08 Hong Kong Bermuda Tel: (852) 2595 3111 Tel: (852) 2978 5656 Fax: (852) 2898 2691 Fax: (852) 2530 5152 MALAYSIA HEAD OFFICE AND PRINCIPAL HONG KONG BRANCH REGISTRAR PLACE OF BUSINESS AND TRANSFER OFFICE No. 19, Jalan Semangat Tricor Tengis Limited 46200 Petaling Jaya Level 22, Hopewell Centre Selangor Darul Ehsan 183 Queen’s Road East Malaysia Hong Kong Tel: (603) 7965 8888 Tel: (852) 2980 1333 Fax: (603) 7965 8689 Fax: (852) 2810 8185 REGISTERED OFFICE IN BERMUDA MALAYSIA BRANCH REGISTRAR AND TRANSFER OFFICE Canon’s Court 22 Victoria Street Tricor Investor & Issuing House Services Sdn Bhd Hamilton HM12 Unit 32–01, Level 32 Bermuda Tower A, Vertical Business Suite Tel: (441) 295 1443 Avenue 3, Bangsar South Fax: (441) 292 8666 No. 8, Jalan Kerinchi 59200 Kuala Lumpur REGISTERED OFFICE IN MALAYSIA Malaysia Tel: (603) 2783 9299 Level 8, Symphony House Fax: (603) 2783 9222 Block D13, Pusat Dagangan Dana 1 Jalan PJU 1A/46 Customer Service Centre: 47301 Petaling Jaya Unit G–3, Ground Floor, Selangor Darul Ehsan Vertical Podium Malaysia Avenue 3, Bangsar South Tel: (603) 7841 8000 No. 8, Jalan Kerinchi Fax: (603) 7841 8199 59200 Kuala Lumpur Malaysia ANNUAL REPORT 2018/19 Profile of 04 Board of Directors Dato’ Sri Dr TIONG Ik King 拿督斯里張翼卿醫生 Non-executive Director and Chairman (Non-independent) 非執行董事兼主席（非獨立） Malaysian, male, aged 68 馬來西亞公民，男性，68歲 Dato’ Sri Dr TIONG Ik King was appointed as an executive director of 拿督斯里張翼卿醫生於1995年10月20日獲委任為世界華文媒體 Media Chinese International Limited (the “Company” or “MCIL”) on 20 有限公司（「本公司」）執行董事，並於2017年4月1日調任為非執 October 1995 and was re-designated as a non-executive director on 1 行董事。他其後於2018年4月1日獲委任為本公司主席。他在傳 April 2017. He was then appointed as the Chairman of the Company 媒及出版、資訊科技、木材、林業、油棕及製造業領域均擁有豐 on 1 April 2018. He has extensive experience in media and publishing, 富經驗。 information technology, timber, plantations, oil palm and manufacturing industries. Dato’ Sri Dr TIONG graduated from the National University of Singapore 拿督斯里張醫生於1975年畢業於新加坡國立大學，獲頒內外全 with an M.B.B.S. Degree in 1975 and became a member of the Royal 科醫學士學位，並於1977年取得英國皇家內科醫學院會員資格。 College of Physicians, United Kingdom (M.R.C.P.) in 1977. He was 他於2008年10月24日獲馬來西亞彭亨州蘇丹頒授拿督斯里封號， conferred the datukship title of Dato’ Sri by the Sultan of Pahang, 以表揚他對國家的貢獻。 Malaysia on 24 October 2008 in recognition of his contribution to the country. Dato’ Sri Dr TIONG currently serves as a non-executive director of Jaya 拿督斯里張醫生現任馬來西亞上市公司常成控股有限公司之非 Tiasa Holdings Berhad, a listed company in Malaysia and as a non- 執行董事及新加坡上市公司常青石油及天然氣有限公司之非執 executive director and Chairman of RH Petrogas Limited, a listed 行董事兼主席。他是星洲日報基金會信託人，同時出任本公司 company in Singapore. He is a trustee of Yayasan Sin Chew and sits on 一間附屬公司之董事。 the board of a subsidiary of the Company. He is a brother of Tan Sri Datuk Sir TIONG Hiew King, an uncle of Ms 他是丹斯里拿督張曉卿爵士的胞弟、張聰女士的叔父及張裘昌 TIONG Choon and a distant relative of Mr TIONG Kiew Chiong. Both 先生的遠房親戚。拿督斯里張翼卿醫生及丹斯里拿督張曉卿爵 Dato’ Sri Dr TIONG Ik King and Tan Sri Datuk Sir TIONG Hiew King are 士均為本公司的主要股東。此外，張聰女士和張裘昌先生均為 substantial shareholders of the Company. In addition, Ms TIONG Choon 本公司之董事。 and Mr TIONG Kiew Chiong are directors of the Company. MEDIA CHINESE INTERNATIONAL LIMITED (MALAYSIA COMPANY NO. 995098-A) Profile of Board of Directors 05 Ms TIONG Choon 張聰女士 Executive Director 執行董事 Malaysian, female, aged 50 馬來西亞公民，女性，50歲 Ms TIONG Choon was appointed as a non-executive director of the 張聰女士於2013年3月31日獲委任為本公司非執行董事，其後 Company on 31 March 2013 and was re-designated as an executive 於2017年7月17日調任為執行董事。她亦於2018年4月1日獲委 director of the Company on 17 July 2017. She was appointed as the 任為萬華媒體集團有限公司（「萬華媒體」）之主席，該公司是本 Chairman of One Media Group Limited (“One Media“) on 1 April 2018, a 公司附屬公司，於香港聯合交易所有限公司（「香港聯交所」）主 subsidiary of the Company which is on the main board of The Stock 板上市。她亦出任星洲媒體集團有限公司（「星洲媒體」）及本公 Exchange of Hong Kong Limited (the “HK Stock Exchange”). She is a 司多間附屬公司之董事。她於1991年加入常青集團開展其職業 director of Sin Chew Media Corporation Berhad (“Sin Chew”), a wholly- 歷程，於林業及酒店服務業擔任管理層及高級主管之職務。她 owned subsidiary of the Company in Malaysia and sits on the board of 持有澳洲莫納什大學經濟學學士學位。她現為馬來西亞上市公 a number of subsidiaries of the Company. She has started her career 司常成控股有限公司之非獨立非執行董事。 with Rimbunan Hijau Group since 1991 and served in various managerial and senior positions in plantation and hospitality sectors. She holds a Bachelor of Economics Degree from Monash University, Australia. She is currently a non-independent non-executive director of Jaya Tiasa Holdings Berhad, a listed company in Malaysia. Ms TIONG is a daughter of Tan Sri Datuk Sir TIONG Hiew King, a niece of 張女士為丹斯里拿督張曉卿爵士的女兒、拿督斯里張翼卿醫生 Dato’ Sri Dr TIONG Ik King and a distant relative of Mr TIONG Kiew 的侄女及張裘昌先生的遠房親戚。丹斯里拿督張曉卿爵士及拿 Chiong. Both Tan Sri Datuk Sir TIONG Hiew King and Dato’ Sri Dr TIONG 督斯里張翼卿醫生均為本公司的主要股東。此外，拿督斯里張 Ik King are substantial shareholders of the Company. In addition, Dato’ 翼卿醫生和張裘昌先生均為本公司之董事。 Sri Dr TIONG Ik King and Mr TIONG Kiew Chiong are directors of the Company. Mr TIONG Kiew Chiong 張裘昌先生 Executive Director and Group Chief Executive Officer 執行董事及集團行政總裁 Malaysian, male, aged 59 馬來西亞公民，男性，59歲 Mr TIONG Kiew Chiong was appointed as an executive director of the 張裘昌先生於1998年5月2日獲委任為本公司執行董事。他是集 Company on 2 May 1998. He is the Group Chief Executive Officer, the 團行政總裁、集團行政委員會主席及本公司的薪酬委員會成員。 Chairman of the Group Executive Committee and a member of 張先生也是萬華媒體的副主席。該公司是本公司附屬公司，自 Remuneration Committee of the Company. Mr TIONG is also the 2005年10月起在香港聯交所主板上巿。張先生出任本公司多間 Deputy Chairman of One Media, a subsidiary of the Company which 附屬公司之董事。他也擔任拿督斯里張翼卿醫生於星洲日報基 has been listed on the main board of the HK Stock Exchange since 金會的副信託人。他在傳媒及出版業擁有豐富經驗，於1993年 October 2005. Mr TIONG sits on the board of a number of subsidiaries 在巴布亞新畿內亞參與創辦英文報章《The National》。張先生於 of the Company. He is also the alternate trustee to Dato’ Sri Dr TIONG Ik 1982年畢業於加拿大多倫多約克大學，獲頒工商管理學士（榮譽） King in Yayasan Sin Chew. He has extensive experience in media and 學位。 publishing business and is also one of the founders of The National, an English newspaper in Papua New Guinea launched in 1993. Mr TIONG obtained his Bachelor Degree of Business Administration (Honours) from York University, Toronto, Canada in 1982. He is a distant relative of Tan Sri Datuk Sir TIONG Hiew King, Dato’ Sri Dr 他是丹斯里拿督張曉卿爵士、拿督斯里張翼卿醫生及張聰女士 TIONG Ik King and Ms TIONG Choon. Tan Sri Datuk Sir TIONG Hiew King 之遠房親戚。丹斯里拿督張曉卿爵士及拿督斯里張翼卿醫生均 and Dato’ Sri Dr TIONG Ik King are substantial shareholders of the 為本公司的主要股東。此外，拿督斯里張翼卿醫生和張聰女士 Company. In addition, Dato’ Sri Dr TIONG Ik King and Ms TIONG Choon 均為本公司之董事。 are directors of the Company. ANNUAL REPORT 2018/19 Profile of 06 Board of Directors Mr LEONG Chew Meng 梁秋明先生 Executive Director 執行董事 Malaysian, male, aged 63 馬來西亞公民，男性，63歲 Mr LEONG Chew Meng was appointed as a non-executive director of 梁秋明先生於2008年4月14日獲委任為本公司非執行董事，其 the Company on 14 April 2008 and was re-designated as an executive 後於2013年3月31日獲調任為執行董事。他是本公司集團行政 director of the Company on 31 March 2013. He is a member of the 委員會及薪酬委員會成員。他亦是星洲媒體之執行董事。他在 Group Executive Committee and Remuneration Committee of the 紐西蘭威靈頓維多利亞大學取得商管學學士學位，主修會計。 Company. He is also an executive director of Sin Chew. He obtained his 他是馬來西亞會計師公會之特許會計師及紐西蘭特許會計師公 Bachelor of Commerce and Administration Degree majoring in 會之特許會計師。他是一名專業會計師，在馬來西亞擁有超過 accountancy from Victoria University of Wellington in New Zealand. He 35年之豐富工作經驗。在他的專業範疇中，他曾於數間經營製 is a Chartered Accountant of the Malaysian Institute of Accountants 造業、貿易及零售業之外資跨國公司出任財務主管及財務總監， and qualified as an Associate Chartered Accountant of the Institute of 其後晉身商界，出任私人公司及上市公司之商業諮詢顧問及財 Chartered Accountants, New Zealand.