Table of Contents 1 169

Kimlun Corporation Berhad Annual Report 2019

ANNUAL REPORT 2019 1
CONTENTS 2
CORPORATE INFORMATION 4
CORPORATE STRUCTURE 5
CORPORATE MILESTONES 6
PROFILE OF DIRECTORS AND KEY SENIOR MANAGEMENT 8
GROUP FINANCIAL HIGHLIGHTS 12
CHAIRMAN’S STATEMENT 13
MANAGEMENT DISCUSSION AND ANALYSIS 16
SUSTAINABILITY STATEMENT 27
CORPORATE GOVERNANCE OVERVIEW STATEMENT 36
ADDITIONAL COMPLIANCE INFORMATION DISCLOSURES 47
AUDIT COMMITTEE REPORT 49
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 52
STATEMENT ON DIRECTORS’ RESPONSIBILITY 56
FINANCIAL STATEMENTS 57
DIRECTORS’ REPORT 58
STATEMENT BY DIRECTORS 65
STATUTORY DECLARATION 65
INDEPENDENT AUDITORS’ REPORT 65
STATEMENTS OF COMPREHENSIVE INCOME 72
STATEMENTS OF FINANCIAL POSITION 74
STATEMENTS OF CHANGES IN EQUITY 76
STATEMENTS OF CASH FLOWS 80
NOTES TO THE FINANCIAL STATEMENTS 83
1. Corporate information 83
2. Summary of significant accounting policies 83
3. Significant accounting judgements and estimates 111
4. Revenue 114
5. Other operating income 115
6. Finance costs 115
7. Profit before tax 116
8. Employee benefits expenses 117
9. Directors' remuneration 118
10. Income tax expense 119
11. Earnings per share 121
12. Property, plant and equipment 122
13. Right-of-use assets 124
14. Investment properties 125
15. Other investments 126
16. Investment in subsidiaries 126
17. Investment in joint ventures 128
18. Properties held for sale 130
19. Land held for development and development properties 131
20. Inventories 132
21. Trade and other receivables 132
22. Cash and bank balances 135
23. Loans and borrowings 136
24. Lease liabilities 138
25. Trade and other payables 139
26. Provisions 140
27. Deferred tax liabilities/(assets) 141
28. Share capital and treasury shares 142
29. Retained earnings 143
30. Other reserves 144
31. Related party disclosures 145
32. Commitments 146
33. Fair value 149
34. Financial risk management objectives and policies 150
35. Capital management 156
36. Segment information 156
37. Dividends 159
38. Subsequent event 160
ANALYSIS OF SHAREHOLDINGS 162
ANALYSIS OF WARRANT HOLDINGS 164
LIST OF PROPERTIES 166

RkJQdWJsaXNoZXIy NDgzMzc=