Table of Contents
1
207
PRG Holdings Berhad Annual Report 2020
Untitled
1
PRG Values
4
Corporate Information
6
Corporate Structure
8
Group Financial Highlights
10
Chairman’s Statement
12
Management Discussion and Analysis
16
Directors’ Profile
22
Management Team
28
Sustainability Report
31
Corporate Governance Overview Statement
40
Directors’ Responsibilities Statement
48
Additional Compliance Information
49
Statement On Risk Management and Internal Control
50
Report of The Audit and Risk Management Committee
54
Directors’ Report
60
Statement by Directors
66
Independent Auditors’ Report
67
Statements of Financial Position
72
Statements of Profit or Loss and Other Comprehensive Income
74
Statements of Changes In Equity
77
Statements of Cash Flows
80
Notes to the Financial Statements
84
CORPORATE INFORMATION
84
PRINCIPAL ACTIVITIES
84
BASIS OF PREPARATION
84
SIGNIFICANT ACCOUNTING POLICIES
84
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs
104
FINANCIAL REPORTING UPDATES
106
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS
106
PROPERTY, PLANT AND EQUIPMENT
108
RIGHT-OF-USE ASSETS
110
INTANGIBLE ASSETS
112
INVESTMENTS IN SUBSIDIARIES
115
INVESTMENTS IN ASSOCIATES
130
INVESTMENTS IN JOINT VENTURES
134
OTHER INVESTMENTS
137
DEFERRED TAX (ASSETS)/LIABILITIES
138
TRADE AND OTHER RECEIVABLES
140
CONTRACT ASSETS/(LIABILITIES)
145
INVENTORIES
147
PROPERTY DEVELOPMENT COSTS
147
BIOLOGICAL ASSETS
149
CASH AND BANK BALANCES
150
BANK BALANCES HELD ON BEHALF OF CLIENTS
151
SHARE CAPITAL AND TREASURY SHARES
152
RESERVES
153
BORROWINGS
154
TRADE AND OTHER PAYABLES
155
LEASE LIABILITIES
158
DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE
160
COMMITMENTS
164
CONTINGENT LIABILITIES
165
REVENUE
165
LOSS BEFORE TAX FROM CONTINUING OPERATIONS
167
TAXATION
168
(LOSS)/EARNINGS PER ORDINARY SHARE
170
EMPLOYEE BENEFITS
170
RELATED PARTY DISCLOSURES
171
OPERATING SEGMENTS
173
FINANCIAL INSTRUMENTS
180
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
182
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
190
SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD
192
List of Group Properties
193
Analysis of Shareholdings
195
Notice of Twentieth Annual General Meeting
197
Administrative Guide for the Twentieth (“20th”)
202
FORM OF PROXY
205
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