TELLING IT AS IT IS ANNUAL REPORT 2018 A RELIABLE & CREDIBLE source of information Corporate Information & Management Team 2 Audit and Risk Management Committee Report 19 - 20 Statement of Directors’ Responsibility In Profile of Directors & Key Senior Management 3 21 Respect of The Audited Financial Statements’ Chairman’s Statement 4 Financial Statements 25 - 41 Management Discussion and Analysis 5 Recurrent Related Party Transactions 41 Events, Promotions and CSR 6 - 11 Statistics on Shares 42 Sustainability Statement 12 Other Information 42 Corporate Governance Overview Statement 13 - 17 Notice of Annual General Meeting 43 - 44 Statement on Risk Management and Internal Control 18 Proxy Form 45 2 ANNUAL REPORT 2018 • BERJAYA MEDIA BERHAD (Company No: 290601-T) CORPORATE INFORMATION BOARD OF DIRECTORS AUDIT AND RISK REGISTERED OFFICE AUDITORS Dato’ Sri Robin Tan Yeong Ching MANAGEMENT Lot 13-01A, Level 13 (East Wing) Deloitte PLT - Chairman, Non-Independent Non- COMMITTEE Berjaya Times Square Chartered Accountants Executive Director Datuk Robert Yong Kuen Loke (Chairman) No.1, Jalan Imbi Level 16 Menara LGB Chan Kien Sing Datuk Seri Azman Bin Ujang - Non-Independent Executive Director 55100 Kuala Lumpur 1 Jalan Wan Kadir Dato’ Sri Robin Tan Yeong Ching Datuk Robert Yong Kuen Loke Tel: 03-2149 1999 Taman Tun Dr Ismail - Independent Non-Executive Director Fax: 03-2143 1685 60000 Kuala Lumpur NOMINATING COMMITTEE Datuk Seri Azman Bin Ujang Tel: 03-7610 8888 - Independent Non-Executive Director Datuk Seri Azman Bin Ujang (Chairman) SHARE REGISTRAR Fax: 03-7726 8986 Dato’ Sri Robin Tan Yeong Ching Berjaya Registration Services Sdn Bhd SECRETARIES Datuk Robert Yong Kuen Loke Lot 10-04A & 10-04B STOCK EXCHANGE Tham Lai Heng Michelle LISTING (MAICSA 7013702) Level 10, West REMUNERATION Main Market of Bursa Malaysia Wong Siew Guek Berjaya Times Square COMMITTEE Securities Berhad (MAICSA 7042922) No. 1, Jalan Imbi Dato’ Sri Robin Tan Yeong Ching Stock Short Name: BJMEDIA (Chairman) 55100 Kuala Lumpur Stock Code: 6025 Datuk Robert Yong Kuen Loke Tel: 03-2145 0533 Datuk Seri Azman Bin Ujang Fax: 03-2145 9702 MANAGEMENT TEAM SUN MEDIA CORPORATION SDN BHD CHAN KIEN SING CHOO MEI FOONG OPERATIONS Managing Director Deputy Editor, Entertainment & Lifestyle RICKY NG YOOI MENG PETER YAP Financial Controller CHING CHUN KEAT Deputy Head of Entertainment & Lifestyle and JEREMY TAN TEIK BOON Executive Director Editor Fashion & Beauty Senior Manager, Production TEO KAH KEONG GURUNATHAM A/L GOPAL Foreign Editor EDITORIAL Senior Manager, Distribution Channels AZLAN BIN MOHD RAMLI FREDDIE NG SASEETHARAN A/L GOPAL Special Projects and Motoring Editor Managing Editor Senior Manager, Information Technology CHEN TEE KERK KONG SEE HOH MUHAMMAD RADZI SUHAIMI Head, Graphic Production Editor HR & Admin Manager CHRISTOPHER NG JOHARISHAM BAHADZAMAN Deputy Production Editor / Chief Sub-Editor Head, Design EDDIE HOO Executive Editor, News ADVERTISING & MARKETING PATRICK SENNYAH ANAFIAH BINTI OMAR Associate Editor Sales Director PRESENNA NAMBIAR LEE SIEW SIEW Business Editor Sales Director NAVJEET SINGH SHIRLEY ENG KIM FUNG Sports Editor Head of Ad Traffic RAJ KUMAR SOMAN KATHRINE AU YONG Photo Editor Senior Manager, Marketing Support MICHELE A/P EDWARD THESEIRA RAMONA REVI PILLAI Supplements Editor Senior Manager, Marketing Studio ANNUAL REPORT 2018 • BERJAYA MEDIA BERHAD (Company No: 290601-T) 3 PROFILE OF DIRECTORS DATO’ SRI ROBIN TAN CHAN KIEN SING DATUK ROBERT YONG KUEN DATUK SERI AZMAN YEONG CHING LOKE BIN UJANG 61 years of age, Malaysian, Male 44 years of age, Malaysian, Male 66 years of age, Malaysian, Male 67 years of age, Malaysian, Male Non-Independent Executive Director Chairman Independent Non-Executive Director Independent Non-Executive He was appointed to the Board as an Non-Independent Non-Executive Director Director Executive Director on 26 February 2008. He was appointed to the Board as an He was appointed to the Board as He is a member of The Malaysian Institute Independent Non-Executive Director on 22 He was appointed to the Board Chairman and Non-Independent Non- of Certified Public Accountants and November 2017. as an Independent Non-Executive Executive Director on 1 April 2010. He is Malaysian Institute of Accountants. Having He is a Fellow member of The Institute of Director on 21 July 2008. He is also the Chairman of the Remuneration articled with Messrs Peat Marwick Mitchell Chartered Accountants in England and the Chairman of the Nominating Committee and a member of the (now known as KPMG) from 1975 to 1981, Wales and a member of the Institute of Committee and a member of Nominating Committee and Audit and he subsequently joined Arab-Malaysian Singapore Chartered Accountants and the the Audit and Risk Management Risk Management Committee. Merchant Bank Berhad (now known as Malaysian Institute of Accountants. He is Committee and Remuneration He graduated with a Bachelor of Social AmInvestment Bank Berhad) specialising also a Council Member of The Malaysian Committee. Science degree in Accounting/Law from in corporate finance until 1989 when he Institute of Certified Public Accountants and He began his 36-year career with the University of Southampton, United joined Berjaya Group Berhad. presently serves as a member of its Executive Malaysian National News Agency Kingdom, in 1995. He joined Berjaya Currently, he is a Director of Berjaya Committee. He has many years of working (“BERNAMA”) as a cadet reporter Group Berhad in 1995 as an Executive Corporation Berhad, Berjaya Sports experience in the fields of accounting, audit, in 1971 and was promoted to and subsequently became the General Toto Berhad, Berjaya Assets Berhad and treasury and financial management. He various editorial positions before Manager, Corporate Affairs in 1997. 7-Eleven Malaysia Holdings Berhad. He started his career in London in 1973 and he rose to become Editor-in- Currently, he is the Chief Executive is also the Managing Director of Sun worked there for more than five years with Chief in 2004. He was made the Officer of Berjaya Corporation Berhad, Media Corporation Sdn Bhd and holds chartered accounting firms. Subsequently, General Manager of BERNAMA the Chairman of Informatics Education directorships in several other private he was with Price Waterhouse, Singapore in March 2007 before retiring Limited, Singapore and a Director of limited companies. from 1979 to 1982. From 1983 to 1986, he from BERNAMA in June 2008 and Atlan Holdings Bhd and KDE Recreation served as the Group Finance Manager in subsequently appointed as the Berhad. He is also an Executive Director UMW Holdings Berhad and Group Treasurer Editorial Advisor of BERNAMA of Berjaya Golf Resort Berhad, Bukit Kiara in Edaran Otomobil Nasional Bhd. He joined until June 2009. He is currently the Resort Berhad and Staffield Country Berjaya Group of Companies in 1987 until Chairman of BERNAMA. Resort Berhad. He also holds directorships his retirement as an Executive Director in several other private limited companies on 30 November 2007 and is currently an in the Berjaya Corporation group of Independent Non-Executive Director of the companies. Company. His father, Tan Sri Dato’ Seri Vincent Tan He is also a Director of Berjaya Corporation Chee Yioun, is a major shareholder of the Berhad, Berjaya Land Berhad, Berjaya Sports Save as disclosed, none of the Directors have:- Toto Berhad and Berjaya Assets Berhad. Company. 1. any family relationship with any directors Datuk Robert Yong Kuen Loke is the and/or major shareholders of the Company; Chairman of the Audit and Risk Management 2. any conflict of interest with the Company; Committee and a member of the Nominating 3. any conviction for offences within the past 5 years other than traffic offences; and Committee and Remuneration Committee of 4. any public sanction or penalty imposed by the Company. the relevant regulatory bodies during the financial year. KEY SENIOR MANAGEMENT CHING CHUN KEAT FREDDIE NG 49 years of age, Malaysian, Male 56 years of age, Malaysian, Male Executive Director Managing Editor He was appointed Executive Director of Sun Media He was appointed Managing Editor of Sun Media Corporation Sdn Bhd on 30 December 2016. Corporation Sdn Bhd on 1 January 2012 and subsequently Director on 30 December 2016. He is a member of the Malaysian Institute of Accountants and Fellow Member of the Association of Chartered He is a career journalist with more than 35 years of Certified Accountants. Prior to joining an investment working experience in the publishing industry, having bank specialising in corporate finance in 1993, he was worked in the New Straits Time Press for over 20 years Save as disclosed, none of the Key Senior Management have :- attached to a medium-sized audit firm. before joining theSun as News Editor in 2003. 1. any directorship in public companies and listed issuers; 2. any family relationship with any Directors and/or major shareholders of the He joined Berjaya Group Berhad in 1996. He is currently He was promoted to Senior Editor (News) before Company; the Senior General Manager, Operations of Berjaya being appointed Managing Editor in 2012. He holds a 3. any conflict of interest with the Company; 4. any conviction for offences within the past 5 years other than traffic offences; and Group. He also holds directorships in a public company certificate in legal studies from the Council of National 5. any public sanction or penalty imposed by the relevant regulatory bodies during and several other private limited companies. Academic