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Sasbadi Annual Report 2022

SASBADI ANNUAL REPORT 2022 1
CONTENTS 3
Corporate Information 4
Sasbadi At A Glance 6-7
Our Significant Milestones 8-9
Our Core Competencies 10-11
Group of Companies 12
Financial Highlights 13
Message to Shareholders 14
Management Discussion and Analysis 16
Board of Directors 24-25
Directors’ Profiles 27
Profile of Key Senior Management 33
Sustainability Statement 34
Corporate Governance Overview Statement 43
Audit Committee Report 52
Statement on Risk Management and Internal Control 55
Additional Compliance Information 58
Statement on Directors’ Responsibility 59
Financial Statements 60
Directors’ Report 61
Statement by Directors 66
Statutory Declaration 66
Independent Auditor’s Report 67
Statements of Financial Position 74
Statements of Profit or Loss and Other Comprehensive Income 75
Consolidated Statement of Changes in Equity 76
Statement of Changes in Equity 78
Statements of Cash Flows 79
Notes to the Financial Statements 82
CORPORATE INFORMATION 82
PRINCIPAL ACTIVITIES 82
BASIS OF PREPARATION 82
ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs 83
PROPERTY, PLANT AND EQUIPMENT 84
INVESTMENT PROPERTIES 87
INTANGIBLE ASSETS 89
INVESTMENTS IN SUBSIDIARIES 93
OTHER INVESTMENTS 95
DEFERRED TAX ASSETS/(LIABILITIES) 96
RIGHT-OF-USE ASSETS/(LEASE LIABILITIES) 98
INVENTORIES 101
RIGHT TO RECOVER RETURNED GOODS/(REFUND LIABILITIES) 101
CONTRACT WITH CUSTOMERS 101
TRADE AND OTHER RECEIVABLES 102
CASH AND CASH EQUIVALENTS 106
SHARE CAPITAL AND RESERVES 106
LOANS AND BORROWINGS 111
TRADE AND OTHER PAYABLES 112
REVENUE 113
FINANCE COSTS 114
PROFIT/(LOSS) BEFORE TAX 115
TAXATION 116
EARNINGS/(LOSS) PER ORDINARY SHARE (“EPS/LPS”) 117
OPERATING SEGMENTS 118
CAPITAL AND FINANCIAL RISK MANAGEMENT 122
CONTINGENCIES 125
RELATED PARTIES 125
List of Properties 126
Analysis of Shareholdings 127
Notice of Tenth Annual General Meeting 130
Statement Accompanying Notice of Annual General Meeting 134
Form of Proxy 135

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