Table of Contents 2017 Annual Report 01 STRUCTURE & LEADERSHIP 03 SUSTAINABILITY 02 Growing Our Presence 66 Sustainability Statement 04 Corporate Information 75 Economic Growth 06 Group Corporate Structure 86 Environmental Management 08 Group Organisation Structure 92 Social Contribution 10 Profile of Board of Directors 23 Senior Management Profile 04 CORPORATE GOVERNANCE 108 Corporate Governance Statement MANAGEMENT DISCUSSION & ANALYSIS 02 126 Training Programmes Attended by Strategic Review and Outlook Directors 128 Statement on Risk Management and 28 Performance Indicators Internal Control 29 Statement from the Group Managing Director 131 Risk Management Committee Report 38 Strategic Business Model 133 Audit Committee Report 41 Material Matters 134 Statement on Internal Audit 135 Additional Compliance Information Performance Review 42 Chief Financial Officer‘s Statement 52 Five Years Group Financial Highlights 05 ACHIEVEMENTS 54 Group Segmental Performance 136 Media Highlights 55 Group Quarterly Performance 138 Awards and Achievements 57 Statement of Value Added and Distribution 58 Share Performance 59 Investor Relations 62 Financial Calendar 63 Bonds and Credit Ratings Annual General Meeting Venue: Date: Time: 41st Annual General Meeting Kota Permai Golf Thursday, 10.00 a.m. of Gamuda Berhad & Country Club 7 December 2017 06 FINANCIAL STATEMENTS 07 OTHER INFORMATION 144 Directors’ Report 342 Analysis of Securities of 153 Statement by Directors Company 153 Statutory Declaration 350 Issued Share Capital 154 Independent Auditors’ Report 353 List of Major Properties 164 Consolidated Income Statement 355 Notice of Annual General Meeting 165 Consolidated Statement of Comprehensive Income 360 Administrative Details 166 Consolidated Statement of Financial Position 168 Consolidated Statement of Changes in Equity Form of Proxy 170 Consolidated Statement of Cash Flows 172 Income Statement 173 Statement of Comprehensive Income 174 Statement of Financial Position 176 Statement of Changes in Equity 177 Statement of Cash Flows 179 Notes to the Financial Statements 341 Supplementary Information View our Annual Report, accounts and other information about Gamuda Berhad at www.gamuda.com.my Growing 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. 02 Gamuda Berhad (29579-T) Annual Report 2017 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 Rapid (KVMRT) Project (EDTP) (Ipoh- Transit • Sungai Buloh-Kajang Line (SBK) Padang Besar) QATAR • Sungai Buloh-Serdang-Putrajaya World’s First Dual- Line (SSP) Public Infrastructure Purpose Tunnel – Dukhan Highway Fully Automated Robotic IBS Factory – Stormwater – Hamad International Airport Management and Road – Gamuda Industrialised Building Tunnel (SMART) System (Gamuda IBS) VIETNAM Water Regulating Dam, Property Development Property Development Water Treatment and – Celadon City, Ho Chi Minh City – Bandar Botanic Power Plant – Gamuda City, Hanoi – Bukit Bantayan Residences – Gamuda Water – Gamuda Biz Suites – SPLASH Sewage Treatment Plant – Yen So Sewage Treatment Plant, – Gamuda Cove – Sungai Selangor Dam Hanoi – Gamuda Gardens – Rasa & Bukit Badong Water Treatment Plants – Gamuda Walk (SSP1 & SSP3) BAHRAIN – Gamuda GM Klang – Prai Power Station Bridges – HighPark Suites – Sitra Causeway Bridges – Horizon Hills Urban Transformation in Penang – Jade Hills INDIA – Kota Kemuning – Penang Transport Master Plan (PTMP) Key Urban Links – Kundang Estates – Durgapur Expressway – Madge Mansions Public Infrastructure – Panagarh-Palsit Highway – The Robertson – Kuantan Bridge SINGAPORE – twentyfive.7 – Hospital Universiti – Valencia Kebangsaan Malaysia Property Development – Lumut Naval Harbour – GEM Residences Key Intra-Urban Expressways and – North Butterworth Highways in Greater KL Container Terminal AUSTRALIA – Damansara-Puchong Highway (LDP) Property Development – Shah Alam Expressway (SAE) – 661 Chapel St. Melbourne – Western Kuala Lumpur Traffic Dispersal Scheme (SPRINT) Structure & Leadership 01 02 03 04 05 06 07 03 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 YBhg Dato’ Haji Azmi bin Mat Nor YBhg Dato’ Goon Heng Wah BOARD OF Mr. Saw Wah Theng DIRECTORS YM Tunku Afwida binti Tunku A.Malek Puan Nazli binti Mohd Khir Johari (Alternate to YBhg Dato’ Ir Chow Chee Wah YBhg Dato’ Lin Yun Ling) (Alternate to YBhg Dato’ Ubull Din Om YBhg Dato’ Ir Ha Tiing Tai) (Alternate to Ir Chan Kong Wah YBhg Dato’ Goon Heng Wah) (Alternate to Mr. Soo Kok Wong Mr. Saw Wah Theng) 04 Gamuda Berhad (29579-T) Annual Report 2017 AUDIT COMMITTEE PRINCIPAL BANKER • YBhg Dato’ Mohammed Hussein (Chairman) Malayan Banking Berhad • YM Tunku Afwida binti Tunku A.Malek • Puan Nazli binti Mohd Khir Johari REGISTERED OFFICE/CORPORATE OFFICE Menara Gamuda NOMINATION COMMITTEE D-16-01, Block D PJ Trade Centre • YBhg Dato’ Mohammed Hussein (Chairman) No. 8, Jalan PJU8/8A • YM Tunku Afwida binti Tunku A.Malek Bandar Damansara Perdana • Puan Nazli binti Mohd Khir Johari 47820 Petaling Jaya Selangor Darul Ehsan Tel : 603-7726 9210 REMUNERATION COMMITTEE Fax : 603-7728 9811 • YBhg Dato’ Mohammed Hussein (Chairman) • YBhg Dato’ Lin Yun Ling COMPANY NO. • YTM Raja Dato’ Seri Eleena binti Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-lah 29579-T COMPANY SECRETARIES DATE & PLACE OF INCORPORATION • Ms. Lim Soo Lye (LS 0006461) 6 October 1976, Malaysia • Ms. Pang Siok Tieng (MAICSA 7020782) WEBSITE SHARE REGISTRAR www.gamuda.com.my Insurban Corporate Services Sdn Bhd 149, Jalan Aminuddin Baki STOCK EXCHANGE LISTING Taman Tun Dr. Ismail 60000 Kuala Lumpur Main Market of Bursa Malaysia Securities Berhad Stock Code: Gamuda Tel : 603-7729 5529 Stock No.: 5398 Fax : 603-7728 5948 Email : [email protected] LISTING DATE AUDITORS 10 August 1992 Messrs Ernst & Young (AF: 0039) Chartered Accountants Structure & Leadership 01 02 03 04 05 06 07 05 Group Corporate Structure EXPRESSWAY TOLLING WATER CONSTRUCTION AND MANAGEMENT RELATED Kesas Sdn Bhd 70% Gamuda Water Sdn Bhd 80% Gamuda Engineering Sdn Bhd 100% Sistem Penyuraian Trafik KL Syarikat Pengeluar Air Sungai Masterpave Sdn Bhd 100% Barat Sdn Bhd 52% Selangor Sdn Bhd 40% Ganaz Bina Sdn Bhd 100% Mapex Infrastructure Private Limited 50% Gamuda-WCT (India) Private Limited 70% Emas Expressway Private Limited 50% Gamuda Naim Engineering and Syarikat Mengurus Air Banjir & Construction (GNEC) Sdn Bhd 65% Terowong Sdn Bhd 50% SRS Consortium Sdn Bhd 60% Lingkaran Trans Kota Sdn Bhd 44% MMC-Gamuda Joint Venture Sdn Bhd 50% MMC Gamuda KVMRT (PDP) Sdn Bhd 50% MMC Gamuda KVMRT (T) Sdn Bhd 50% MMC Gamuda KVMRT (PDP SSP) Sdn Bhd 50% Naim Gamuda (NAGA) JV Sdn Bhd 30% GOLF CLUB & IBS, QUARRYING, PLANT INVESTMENT CLUBHOUSE HIRE AND OTHERS Bandar Botanic Resort Berhad 100% Gamuda Industrial Building Gamuda Overseas Investment Ltd 100% Jade Homes Resort Berhad 100% System Sdn Bhd 100% Megah Capital Sdn Bhd 100% Danau Permai Resort Berhad 50% G. B. Kuari Sdn Bhd 100% Gamuda (Offshore) Private Limited 100% Horizon Hills Resort Berhad 50% Megah Management Services Sdn Bhd 100% Gammau Construction Sdn Bhd 100% Megah Sewa Sdn Bhd 100% Kesas Holdings Berhad 70% Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd 52% Gamuda-WCT (Offshore) Private Limited 50% Suria Holding (O) Pvt Ltd 50% Projek SMART Holdings Sdn Bhd 50% Lingkaran Trans Kota Holdings Berhad 44% Syarikat Pengeluar Air Selangor Holdings Berhad 40% 06 Gamuda Berhad (29579-T) Annual Report 2017 PROPERTY/TOWNSHIP PROPERTY BUILDING MATERIALS INFRASTRUCTURE MANAGEMENT AND DEVELOPMENT MAINTENANCE Gamuda Trading Sdn Bhd 100% Jade Homes Sdn Bhd 100% Botanic Property Services Sdn Bhd 100% Gamuda Land (Botanic) Sdn Bhd 100% Gamuda Land Property Services Sdn Bhd 100% Madge Mansions Sdn Bhd 100% Jade Homes Property Services Sdn Bhd 100% Valencia Development Sdn Bhd 100% Valencia Township Sdn Bhd 100% Gamuda Land Sdn Bhd 100% HGD Property Services Sdn Bhd 50% Gamuda Land Vietnam Limited Horizon Hills Property Services Sdn Bhd 50% Liability Company 100% Gamuda Land (HCMC) Sdn Bhd 100% Idaman Robertson Sdn Bhd 100% Gamuda Land (Kemuning) Sdn Bhd 100% Highpark Development Sdn Bhd 100% Bandar Serai Development Sdn Bhd 100% Dinamik Atlantik Sdn Bhd 100% Lifestyle Heritage Sdn Bhd 100% Semarak Kuasa Sdn Bhd 100% Gamuda (Australia) Pty Ltd 100% Gamuda (Singapore) Pte Ltd 100% Gamuda Land (T12) Sdn Bhd 100% LANDSCAPING Gamuda Land Leisure Sdn Bhd 100% Gamuda Land (HCMC) Joint Stock Company 100% Megah Landscape Sdn Bhd 100% Hicom-Gamuda Development Sdn Bhd 50% Kota Kemuning Nursery & Landscaping Sdn Bhd 50% Horizon Hills Development Sdn Bhd 50% Gamuda GM Klang Sdn Bhd 50% Gamuda GM Sdn Bhd 50% Gem Homes Pte Ltd 50% Structure & Leadership 01 02 03 04 05 06 07 07 Group Organisation Structure BOARD OF DIRECTORS • YBHG DATO’ MOHAMMED HUSSEIN • YBhg Dato’ Ir Ha Tiing Tai Chairman • YTM Raja Dato’ Seri Eleena binti • YBHG DATO’ LIN YUN LING Almarhum Sultan Azlan Muhibbuddin Group Managing Director Shah Al-Maghfur-lah ALTERNATE DIRECTORS: • YBhg Dato’ Ir Chow Chee Wah • YBhg Dato’ Ubull Din Om RESPECTIVE BOARD OF YBhg Dato’ Lin Yun Ling DIRECTORS AND EXCOS Group Managing Director YBhg Dato’ Ir Ha Tiing
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