Table of Contents 1 163

Sasbadi Annual Report 2020

SASBADI Annual Report 2020 1
CONTENTS 3
CORPORATE INFORMATION 4
GROUP OF COMPANIES 5
FINANCIAL HIGHLIGHTS 6
ABOUT US 7
AWARDS AND ACHIEVEMENTS 8
MESSAGE TO SHAREHOLDERS 9
MANAGEMENT DISCUSSION AND ANALYSIS 10
OUR MILESTONES 16-17
OUR CORE COMPETENCIES 18-19
DIRECTORS’ PROFILES 22
KEY SENIOR MANAGEMENT’S PROFILES 28
SUSTAINABILITY STATEMENT 29
CORPORATE GOVERNANCE OVERVIEW STATEMENT 35
AUDIT COMMITTEE REPORT 44
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 47
ADDITIONAL COMPLIANCE INFORMATION 48
STATEMENT ON DIRECTORS’ RESPONSIBILITY 50
FINANCIAL STATEMENTS 51
Directors’ report 52
Statements of financial position as at 31 August 2020 57
Consolidated statement of changes in equity for the year ended 31 August 2020 59
Statement of changes in equity for the year ended31 August 2020 60
Statements of cash flows for the year ended 31 August 2020 61
Notes to the financial statements 65
1. Basis of preparation 65
2. Significant accounting policies 68
3. Property, plant and equipment 94
4. Investment properties 96
5. Intangible assets 98
6. Investments in subsidiaries 103
7. Other investments 105
8. Deferred tax assets/(liabilities) 105
9. Right-of-use assets 107
10. Inventories 109
11. Rights to recover returned goods/(Refund liabilities) 109
12. Contract with customers 109
13. Trade and other receivables 110
14. Cash and cash equivalents 111
15. Asset classified as held for sale 111
16. Capital and reserves 111
17. Loans and borrowings 114
18. Trade and other payables 115
19. Employee benefits 116
20. Revenue 118
21. Finance costs 120
22. (Loss)/Profit before tax 120
23. Taxation 121
24. Earnings per ordinary share (“EPS”) 122
25. Operating segments 122
26. Financial instruments 126
27. Capital management 139
28. Contingencies 139
29. Related parties 140
30. Significant changes in accounting policies 141
LIST OF PROPERTIES 152
APPENDIX 1: PROPOSED AMENDMENTS TOTHE CONSTITUTION OF THE COMPANY 153
ANALYSIS OF SHAREHOLDINGS 155
NOTICE OF EIGHTH ANNUAL GENERAL MEETING 157
STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING 160
FORM OF PROXY 160

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