Table of Contents
1
194
Wah Seong Corporation Berhad Annual Report 2018
VISION, MISSION, CORE VALUES
3
CORPORATE PROFILE
5
WORLDWIDE OPERATION
5
CORPORATE INFORMATION
7
FINANCIAL HIGHLIGHTS
8
CORPORATE CALENDAR
9
SUSTAINABILITY STATEMENT
11
MANAGEMENT DISCUSSION AND ANALYSIS
24
PROFILE OF THE BOARD OF DIRECTORS
29
PROFILE OF THE KEY SENIOR MANAGEMENT
33
AUDIT COMMITTEE
37
REMUNERATION COMMITTEE
42
NOMINATION COMMITTEE
45
CORPORATE GOVERNANCE OVERVIEW STATEMENT
49
ADDITIONAL COMPLIANCE INFORMATION
65
Statement on Risk Management and Internal Control
66
STATEMENT OF DIRECTORS’ RESPONSIBILITY
69
DIRECTORS’ REPORT
71
STATEMENT BY DIRECTORS
75
STATUTORY DECLARATION
75
INDEPENDENT AUDITORS’ REPORT
76
STATEMENTS OF FINANCIAL POSITION
80
STATEMENTS OF PROFIT OR LOSS
82
STATEMENTS OF OTHER COMPREHENSIVE INCOME
83
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
84
COMPANY STATEMENT OF CHANGES IN EQUITY
86
STATEMENTS OF CASH FLOWS
87
NOTES TO THE FINANCIAL STATEMENTS
89
GENERAL INFORMATION
89
SIGNIFICANT ACCOUNTING POLICIES
89
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
112
PROPERTY, PLANT AND EQUIPMENT
114
PREPAID LEASE PAYMENTS
117
INVESTMENT PROPERTIES
118
INVESTMENT IN SUBSIDIARIES
119
INVESTMENT IN ASSOCIATES
129
INVESTMENT IN JOINT VENTURES
134
FINANCE LEASE RECEIVABLES
138
INVESTMENT IN EQUITY INSTRUMENTS/AVAILABLE-FOR-SALE FINANCIAL ASSETS
138
DERIVATIVE FINANCIAL ASSETS
139
GOODWILL AND OTHER INTANGIBLE ASSETS
140
DEFERRED TAX ASSETS/(LIABILITIES)
142
INVENTORIES
143
CONTRACT ASSETS/(LIABILITIES)
144
AMOUNTS DUE FROM/(TO) CUSTOMERS ON CONTRACTS
144
TRADE AND OTHER RECEIVABLES
145
AMOUNTS OWING BY/(TO) SUBSIDIARIES
148
AMOUNTS OWING BY/(TO) ASSOCIATES
149
AMOUNTS OWING BY/(TO) JOINT VENTURES
150
TIME DEPOSITS
151
CASH AND BANK BALANCES
152
ASSETS CLASSIFIED AS HELD FOR SALE
152
SHARE CAPITAL
153
SHARE PREMIUM
153
TREASURY SHARES
153
LOANS AND BORROWINGS
154
TRADE AND OTHER PAYABLES
157
PROVISION FOR WARRANTIES
158
GROSS REVENUE
158
COST OF SALES
159
OTHER GAINS/(LOSSES) - NET
159
PROFIT FROM OPERATIONS
159
FINANCE COSTS
160
TAX EXPENSE
160
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY
161
DISPOSAL OF SUBSIDIARY
161
RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES
162
SIGNIFICANT RELATED PARTY DISCLOSURES
163
STAFF COSTS
164
DIRECTORS’ REMUNERATIONS
165
COMMITMENTS
165
SEGMENTAL ANALYSIS
166
FINANCIAL INSTRUMENTS BY CATEGORY
169
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
170
FAIR VALUES OF FINANCIAL INSTRUMENTS
175
CAPITAL MANAGEMENT
176
SUMMARY OF SIGNIFICANT RECURRENTRELATED PARTY TRANSACTIONS
177
TOP 10 LIST OF PROPERTIES
179
ANALYSIS OF SHAREHOLDINGS
181
NOTICE OF NINETEENTH ANNUAL GENERAL MEETING
184
Statement Accompanying Notice of Nineteenth Annual General Meeting
190
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