HEALTHCARE - Sime Darby ... Sime Darby turns 110 in 2020. From its humble beginnings as a rubber...

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Transcript of HEALTHCARE - Sime Darby ... Sime Darby turns 110 in 2020. From its humble beginnings as a rubber...

  • IN D

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    A N N U A L R E P O R T 2 0 1 9

  • Sime Darby turns 110 in 2020. From its humble beginnings as a rubber plantation company, the Sime Darby name has since grown to represent three entities, Sime Darby Plantation Berhad, Sime Darby Property Berhad and Sime Darby Berhad, one of Asia Pacific’s largest Motors and Industrial players and a partner of choice for some of the world’s biggest brands.

    Today, as we navigate the fast changing world, and adjust to quantum leaps in technological advancements as well as geopolitical shifts, Sime Darby Berhad is focused on building momentum and driving growth in our core businesses.

    With our path clearly set out by our Value Creation Plan, we will continue to drive earnings, optimise cost, expand into new markets and rationalise our portfolio.

    And as we have done for the last 100 years, we remain committed to delivering sustainable value to all our stakeholders.

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    We are SIME DARBY BERHAD, delivering sustainable futures

    OUR CORE VALUES

    Integrity Uphold high levels of personal and professional values in all our business interactions and decisions

    To be the leading Motors and Industrial player in Asia Pacific

    OUR MISSION We are committed to developing a winning portfolio of sustainable businesses

    We subscribe to good corporate governance and high ethical values

    We continuously strive to deliver superior financial returns through operational excellence and high performance standards

    We provide an environment for our people to realise their full potential

    OUR VISION

    Respect & Responsibility Respect for the individuals we interact with and the environment that we operate in (internally and externally) and committing to being responsible in all our actions

    Excellence Stretch the horizons of growth for ourselves and our business through our unwavering ambition to achieve outstanding personal and business results

    Enterprise Seek and seize opportunities with speed and agility, challenging set boundaries

  • ONE OF THE WORLD’S LARGEST

    CATERPILLAR DEALERS The oldest Caterpillar dealership in Asia, since 1929

    152 branches throughout Asia Pacific

    Over

    30 industrial brands and solutions

    16 countries and territories

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    Sime Darby Industrial is a major player in the global heavy equipment sector, partnering with one of the biggest names in the industry, Caterpillar, for 90 years. Sime Darby Industrial is also associated with a comprehensive range of complementary brands and industrial solutions throughout Asia Pacific.

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    Visit www.simedarbyindustrial.com for more information

    Sime Darby Industrial acquired Australia-based

    Heavy Maintenance Group Pty Ltd in December 2018, increasing its geographical coverage and market share in the Australian chroming

    & reclamation market

  • ONE OF THE WORLD’S LARGEST

    BMW DEALERS A Leading Automotive Player In Asia Pacific

    02

    9 markets across Asia Pacific

    30 automotive brands

    203 retail, service and rental outlets

    Sime Darby Motors is one of the leading automotive groups in Asia Pacific, representing luxury brands such as BMW, Jaguar, Land Rover and Porsche, and super-luxury names such as Rolls-Royce, Lamborghini and McLaren, as well as broad-appeal market brands such as Ford and Hyundai. Sime Darby Motors is actively involved in all facets of the automotive business – from importation and assembly to distribution, retail and rental.

  • Visit www.simedarbymotors.com for more information

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    Sime Darby Motors acquired a BMW dealership in Qujing,

    China in January 2019 and opened a Rolls-Royce

    dealership in Brisbane, Australia in February 2019

  • AWARD-WINNING PRIVATE

    HEALTHCARE People caring for People

    03

    Ramsay Sime Darby Health Care delivers world-class healthcare services, utilising the latest in medical technologies at our hospitals in Malaysia and Indonesia.

    6 hospitals in Malaysia and Indonesia

    1 day surgery centre in Hong Kong

    Over

    650 specialists

    Over

    1,300 licensed beds

    Over

    4,000 highly trained and skilled employees

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    Visit www.ramsaysimedarby.com for more information

    Ramsay Sime Darby Health Care set up a Day

    Surgery Centre in Hong Kong in November 2018, as part of the continued expansion of

    its footprint in Asia

    H EALTH

    CARE

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    Sime Darby Logistics is the primary operator of Weifang Port in Shandong Province, China, and the owner of three major river ports along the Grand Canal in Jining, also in the Shandong Province. Our shipping network services customers throughout North-eastern China, Southern China, and East Asia.

    LEADING PORT OPERATOR IN SHANDONG, CHINA Primary operator for Weifang Port and owner of three major river ports in Jining

    4 Ports in China

    75 million MT total port capacity

    23 berths at a multi purpose seaport

  • Visit www.simedarbylogistics.com for more information

    All three of Sime Darby Logistics’ river ports in Jining

    were awarded Green Port status after the ports were upgraded to be compliant

    with environmental protection regulations, allowing for

    greater operational flexibility

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  • 1 2 3 ABOUT SIME

    DARBY BERHAD MANAGEMENT DISCUSSION &

    ANALYSIS: STRATEGIC REVIEW

    MANAGEMENT DISCUSSION &

    ANALYSIS: PERFORMANCE

    REVIEW

    4 At A Glance

    6 Group Overview

    8 Corporate Structure

    9 Engaging Stakeholders

    10 Business Environment

    14 Business Model

    16 Value Creation Plan

    18 Material Issues

    21 Risk Management

    26 Chairman’s Statement

    30 Group Chief Executive Officer’s Review

    36 Group Chief Financial Officer’s Review

    44 Divisional Operations Review

    An insight into our approach to create value

    for our stakeholders

    An overview of our organisation, global

    footprint and business activities

    Discussion on FY2019 performance from

    strategy, financial and operational perspectives

    Annual General Meeting

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    Grand Ballroom, First Floor, Sime Darby Convention Centre, 1A, Jalan Bukit Kiara 1, 60000 Kuala Lumpur, Malaysia

    Thursday, 14 November 2019 at 10.00 a.m

    th

    Visit www.simedarby.com for more information

  • 4 5 6 7 CREATING

    SUSTAINABLE VALUE

    GOVERNANCE FINANCIAL STATEMENTS

    APPENDICES

    70 Commitment and Governance

    71 Occupational Health & Safety

    74 Quality & Customer Satisfaction

    75 Environmental Sustainability

    76 People

    81 Community Contribution & Development

    82 Board of Directors

    86 Executive Leadership

    88 Chairman’s Statement on Corporate Governance

    90 Leadership & Effectiveness

    98 Effective Audit & Risk Management

    108 Integrity In Corporate Reporting and Meaningful Relationships with Stakeholders

    110 Statement on Risk Management and Internal Control

    118 Additional Compliance Information

    122 Statement of Responsibility by the Board of Directors

    124 Directors’ Report

    129 Statement by Directors

    129 Statutory Declaration

    130 Independent Auditors’ Report

    137 Statements of Profit or Loss

    138 Statements of Comprehensive Income

    140 Statements of Financial Position

    142 Statements of Changes in Equity

    145 Statements of Cash Flows

    148 Notes to the Financial Statements

    282 Corporate Information

    283 Analysis of Shareholdings

    286 Properties of the Group

    294 Notice to Shareholders under the Personal Data Protection Act 2010

    298 Notice to Proxies under the Personal Data Protection Act 2010

    302 Independent Assurance Report

    304 Notice of Annual General Meeting

    Form of Proxy

    Our approach to sustainability issues

    Our approach to effective corporate governance

    A detailed review of our financial performance

    for FY2019

    Additional information of interest

  • REPORTING PHILOSOPHY, PRINCIPLES AND FRAMEWORK

    The Sime Darby Berhad Annual Report (SDAR) for the financial year ended 30 June 2019 is our 6th Integrated Report (IR). It provides our stakeholders with information about how we performed throughout the year, and charts our progression towards our medium and long-term strategic goals. The SDAR provides insights into our strategy and operations in the hope of offering shareholders the most relevant information needed to make sound investment decisions.

    ABOUT THIS REPORT

    The SDAR generally adopts the International Integrated Reporting Council (IIRC) framework. Our reporting proc