HAP SENG PLANTATIONS HOLDINGS BERHAD

ANNUAL REPORT 2020

CONTENTS

CORPORATE INFORMATION

Corporate Information

01

OUR PERFORMANCE REVIEW

Group Financial Highlights

02

Management Discussion and Analysis

04

·

Market Condition

·

Management Strategies

·

2020 Financial Review

·

Operational Performance

· Short and Long-term Goals

· Anticipated or Known Risks

·

Outlook for 2021

·

Acknowledgement

HOW WE ARE GOVERNED

Board of Directors

10

Directors' Profile

11

Senior Management Team's Profile

23

Corporate Governance

25

Overview Statement

Audit Committee Report

33

Nominating Committee Report

35

Remuneration Committee Report

36

Statement on Risk Management

37

and Internal Control

SUSTAINABILITY STATEMENT

Strengthening Our Sustainability Practices

42

DIRECTORS' RESPONSIBILITY STATEMENT

Directors' Responsibility Statement

64

FINANCIAL STATEMENTS AND

OTHER INFORMATION

Financial Statements

65

Additional Information

140

Particulars of Group's Properties

142

Plantation Statistics

144

Analysis of Shareholdings

146

Directors' Shareholdings

149

Notice of Annual General Meeting

150

Proxy Form

HAP SENG PLANTATIONS HOLDINGS BERHAD

ANNUAL REPORT 2020

CORPORATE INFORMATION

BOARD OF DIRECTORS

Dato' Mohammed Bin

Haji Che Hussein

Independent Non-Executive

Chairman

Datuk Simon Shim Kong Yip, JP

Non-IndependentNon-Executive

Deputy Chairman

Datuk Edward Lee Ming Foo, JP

Managing Director

Lee Wee Yong

Executive Director

Cheah Yee Leng

Executive Director

Au Yong Siew Fah

Executive Director

Datuk Amat Asri @ A.Asrie

B.Ab Kadir @ A.Kadir, JP

Independent Non-Executive

Director

Chong Kwea Seng

Independent Non-Executive

Director

Choy Khai Choon

Independent Non-Executive

Director

Tan Sri Amirsham Bin A Aziz

Independent Non-Executive

Director

Datuk Jasa @ Ismail Bin

Rauddah

Non-IndependentNon-Executive

Director

Andrew John Barber

Independent Non-Executive

Director

COMPANY SECRETARIES

Cheah Yee Leng (LS 0009398)

SSM Practising Certificate

No. 202008000771

Lim Guan Nee (MAICSA 7009321) SSM Practising Certificate No. 202008003410

REGISTERED OFFICE

21st Floor, Menara Hap Seng

Jalan P. Ramlee

50250 Kuala Lumpur

Tel

: 603-2172 5228

Fax

: 603-2172 5286

E-mail

: inquiry@

hapsengplantations.com.my Website : www. hapsengplantations.com.my

PLACE OF INCORPORATION

Malaysia

SHARE REGISTRAR

Tricor Investor & Issuing House

Services Sdn Bhd

Registration No. 197101000970

(11324-H)

Unit 32-01, Level 32, Tower A

Vertical Business Suite

Avenue 3, Bangsar South

No. 8, Jalan Kerinchi

59200 Kuala Lumpur

Tel

: 603-2783 9299

Fax

: 603-2783 9222

AUDITORS

KPMG PLT

(LLP0010081-LCA & AF 0758)

Chartered Accountants

Lot 3A.01, Level 3A

Plaza Shell, 29

Jalan Tunku Abdul Rahman

88000 Kota Kinabalu

Sabah

PRINCIPAL BANKER

Malayan Banking Berhad

1

HAP SENG PLANTATIONS HOLDINGS BERHAD

ANNUAL REPORT 2020

GROUP FINANCIAL HIGHLIGHTS

FINANCIAL YEAR ENDED 31 DECEMBER

2020

2019

2018

2017*

2016

INCOME (RM'000)

467,595

Revenue

418,598

390,756

555,072

503,427

Profit before interest and tax

110,020

38,412

36,186

145,904

165,893

Profit before tax

108,400

36,559

37,151

146,931

167,146

Profit attributable to owners of the Company

90,296

31,449

29,109

109,218

124,118

FINANCIAL POSITION (RM'000)

Assets

2,181,885

Total assets

2,137,699

2,070,055

2,115,908

2,292,033

Net assets

1,714,826

1,652,519

1,638,434

1,669,311

2,040,139

Current assets

380,377

242,828

232,286

273,419

240,647

Liabilities

48,269

Current liabilities

50,363

42,370

53,786

59,945

Shareholders' Equity

1,475,578

Paid-up share capital

1,475,578

1,475,578

1,475,578

800,000

Shareholders' equity

1,714,826

1,652,519

1,638,434

1,669,311

2,040,139

Number of shares

799,685

- Weighted average shares in issue net of

799,686

799,690

799,694

799,698

treasury shares ('000)

799,685

- Shares in issue net of treasury shares ('000)

799,685

799,687

799,691

799,695

SHARE INFORMATION

Per share

11.29

3.93

3.64

13.66

15.52

Basic earnings (sen)#

Net assets (RM)@

2.14

2.07

2.05

2.09

2.55

Dividend (sen)

7.00

2.50

2.50

11.00

11.00

Share price

2.12

- Year High (RM)

2.14

2.63

2.73

2.54

- Year Low (RM)

1.25

1.40

1.61

2.45

2.23

- As at 31 December (RM)

1.80

2.13

1.64

2.55

2.52

Market capitalisation (RM'000)

1,439,433

1,703,329

1,311,487

2,039,212

2,015,232

Trading volume ('000)

40,517

11,822

9,358

30,409

21,826

FINANCIAL RATIOS

4.14

Return on total assets (%)

1.47

1.41

5.16

5.42

Return on shareholders' equity (%)

5.27

1.90

1.78

6.54

6.08

Current ratio (times)

7.88

4.82

5.48

5.08

4.01

  • The figures for financial year ended 31 December 2017 have been restated to reflect the application of the Malaysian Financial Reporting Standards framework
  • Based on weighted average number of shares in issue net of treasury shares ('000)
  • Based on number of shares in issue net of treasury shares ('000)

2

HAP SENG PLANTATIONS HOLDINGS BERHAD

ANNUAL REPORT 2020

GROUP FINANCIAL HIGHLIGHTS

REVENUE

PROFIT BEFORE TAX

(RM'million)

(RM'million)

467.6

418.6

390.8

555.1

503.4

108.4

146.9

167.1

36.6

37.2

2020

2019

2018

2017

2016

2020

2019

2018

2017

2016

TOTAL ASSETS/NET ASSETS

BASIC EARNINGS PER SHARE/

(RM'million)

NET ASSETS PER SHARE

(sen)/(RM)

2,181.9

1,714.8

2,137.7

1,652.5

2,070.1

1,638.4

2,115.9

1,669.3

2,292.0

2,040.1

11.29

13.66

15.52

2.14

3.93

2.07

3.64

2.05

2.09

2.55

2020

2019

2018

2017

2016

2020

2019

2018

2017

2016

Total Assets

Net Assets

Basic earnings per share

Net assets per share

3

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Hap Seng Plantations Holdings Bhd published this content on 26 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2021 03:07:01 UTC.