Table of Contents
1
148
Frontken Berhad Annual Report 2018
ANNUAL REPORT 2018
1
CONTENTS
2
Corporate Information
3
Group Corporate Structure
4
Our Vision, Mission & Profile
5
Our Services
6
Financial Highlights
7
Chairman’s Message
9
Financial Review
14
Board Of Directors’ Profile
16
Senior Management’s Profile
19
Sustainability Report
21
Statement Of Directors’ Responsibilities
24
Corporate Governance Overview Statement
25
Statement On Risk Management And Internal Control
32
Audit Committee Report
38
Additional Disclosure
41
FINANCIAL STATEMENTS
42
Directors’ Report
43
Independent Auditors’ Report
47
Statements Of Profit Or Loss And Other Comprehensive Income
51
Statements Of Financial Position
52
Statements Of Changes In Equity
54
Statements Of Cash Flows
57
Notes To The Financial Statements
59
1. GENERAL INFORMATION
59
2. BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS
59
3. SIGNIFICANT ACCOUNTING POLICIES
60
4. OPERATING SEGMENTS
76
5. REVENUE
81
6. FINANCE COSTS
82
7. PROFIT BEFORE TAX
82
8. INCOME TAX EXPENSE
84
9. EARNINGS PER SHARE
86
10. PROPERTY, PLANT AND EQUIPMENT
87
11. INVESTMENTS IN SUBSIDIARIES
93
12. INVESTMENT IN AN ASSOCIATE
97
13. GOODWILL ON CONSOLIDATION
99
14. DEFERRED TAX ASSETS/LIABILITIES
100
15. FIXED DEPOSITS WITH LICENSED BANKS
101
16. INVENTORIES
101
17. TRADE RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAID EXPENSES
101
18. AMOUNTS OWING BY/TO SUBSIDIARIES
103
19. SHORT-TERM INVESTMENTS
104
20. SHARE CAPITAL
104
21. RESERVES
105
22. TERM LOANS
106
23. HIRE PURCHASE PAYABLES
107
24. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES
107
25. BANK BORROWINGS
113
26. DIVIDENDS
113
27. FINANCIAL INSTRUMENTS
114
28. COMMITMENTS
130
29. CASH FLOW INFORMATION
131
30. FOREIGN EXCHANGE RATES
133
Statement By Directors
134
List Of Properties
135
Shareholding Statistics
138
Notice Of Annual General Meeting
140
PROXY FORM
146
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