Table of Contents 1 170

Sasbadi Annual Report 2019

SASBADI Annual Report 2019 1
CONTENTS 4
OUR CORPORATE INFORMATION 5
OUR GROUP OF COMPANIES 6
OUR FINANCIAL HIGHLIGHTS 7
WHO WE ARE 8
OUR AWARDS AND ACHIEVEMENTS 9
MESSAGE TO SHAREHOLDERS 10
MANAGEMENT DISCUSSION AND ANALYSIS 11
OUR MILESTONES 16
OUR CORE COMPETENCIES 18
DIRECTORS’ PROFILES 20
KEY SENIOR MANAGEMENT’S PROFILES 28
SUSTAINABILITY STATEMENT 29
CORPORATE GOVERNANCE OVERVIEWSTATEMENT 35
AUDIT COMMITTEE REPORT 44
STATEMENT ON RISK MANAGEMENT ANDINTERNAL CONTROL 47
ADDITIONAL COMPLIANCE INFORMATION 49
STATEMENT ON DIRECTORS’RESPONSIBILITY 50
FINANCIAL STATEMENTS 51
Directors’ report 52
Statements of financial position 57
Statements of profit or loss and other comprehensive income 58
Consolidated statement of changes in equity 59
Statements of cash flows 62
Notes to the financial statements 65
1. Basis of preparation 65
2. Significant accounting policies 68
3. Property, plant and equipment 93
4. Investment properties 96
5. Intangible assets 97
6. Investments in subsidiaries 102
7. Other investments 104
8. Deferred tax assets/(liabilities) 104
9. Inventories 106
10. Right to recover returned goods/(Refund liabilities) 106
11. Contract with customers 106
12. Trade and other receivables 107
13. Cash and cash equivalents 108
14. Capital and reserves 108
15. Loans and borrowings 111
16. Trade and other payables 112
17. Revenue 113
18. Finance costs 115
19. Profit before tax 115
20. Tax expense 116
21. Earnings per ordinary share 117
22. Operating segments 118
23. Financial instruments 122
24. Capital management 137
25. Operating leases 137
26. Contingencies 138
27. Related parties 138
28. Subsequent events 139
29. Acquisition of subsidiary 139
30. Significant changes in accounting policies 141
Statement by Directors 149
Statutory declaration 150
Independent Auditors’ Report 151
LIST OF PROPERTIES 159
ANALYSIS OF SHAREHOLDINGS 160
NOTICE OF SEVENTH ANNUAL GENERAL MEETING 163
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 166
FORM OF PROXY 167

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