KPJ HEALTHCARE Delivering What Matters to You
INTEGRATED ANNUAL REPORT 2021
Commemorating 40 Years of Delivering What Matters to Our Stakeholders
KPJ HEALTHCARE BERHAD
OUR VISION
The Preferred Healthcare Provider
Our fundamental purpose is the delivery of exceptional diagnosis, health treatment and care to all our patients. We are dedicated to being the preferred provider of healthcare through the innovative use of technology and by tapping the expertise of experienced consultants as well as well-trained medical and non-medical employees who collaborate to offer the best diagnosis and treatment plans wherever we operate.
OUR MISSION
Deliver Quality Healthcare Services
Our mission is to improve the health of the people and the communities we serve in all markets that we operate in.
Led by skilled and caring medical staff, we are consistently focused on clinical excellence and innovative technology for superior patient outcomes.
OUR CORE VALUES
Values That Guide Us
We are guided by our five Core Values which underpin our dedication to "Care for Life". It is our hope that through these five Core Values, we can maintain and grow KPJ's patient-centric healthcare services focused on compassionate care.
Ensuring SafetyDelivering Service with CourtesyPerforming Duties with Integrity
NAVIGATION ICONS
Exercising Professionalism at All TimesStriving for Continuous Improvement
DELIVERING WHAT MATTERS TO YOU
Our Integrated Annual Report this year, which carries the tagline, "Delivering What Matters to You," aptly sums up how the team at KPJ continues to demonstrate a spirit of excellence, going above and beyond expectations, to deliver what matters to our diverse stakeholders.
While 2021 marked KPJ's 40th year of existence as a private healthcare operator, we did not dwell on any celebratory activities given the severity of the COVID-19 challenges that we had to contend with. Instead, we commemorated the year by maintaining a laser-focus on doing what we do best - caring for life. As we worked diligently to elevate patient care, we also focused our efforts on strengthening our clinical and hospital operations, as well as continued to make fundamental changes under the first phase of the "Re-Energising KPJ" transformation programme. As a result of the concerted efforts of our team, the Group made strides forward on the pandemic-mitigation, people and performance fronts in 2021.
Today, a reinvigorated KPJ continues to grow from strength to strength and is well positioned to continue creating sustainable value as the biggest private hospital group in Malaysia by bed count capacity and as a regional healthcare player focused on delivering world-class healthcare services.
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Inside this Report
ABOUT THIS REPORT
OUR VALUE PROPOSITION
LEADERSHIP STATEMENTS
Statement from Our Chairman 26
President & Managing Director's 36 Review
Chief Financial Officer's Review 46
• Group Quarterly Performance 50
• 5-Year Financial Performance 51
• Statement of Value Added 53
PERFORMANCE REVIEW
Snapshot of KPJ's COVID-19 Response 56
Clinical and Hospital Operations 58
Ambulatory Care and Wellness 65
Ancillary Services 72
Digitalisation 83
Health Tourism 85
DETERMINING MATERIALITY
Our Market Landscape 88
Stakeholder Engagement 90
Material Matters 96
Managing Risks and Opportunities 98
GOVERNANCE
Corporate Information 105
Corporate Structure 106
Who Governs Us 108
Who Leads Us 122
Corporate Governance Overview 130
Statement
Audit Committee Report 151
Statement on Risk Management and 155 Internal Control
Medical Advisory Committee Report 162
Compliance Information 174
FINANCIAL STATEMENTS
Directors' Responsibility Statement 178
Directors' Report 178
Statement by Directors 184
Statutory Declaration 184
Independent Auditors' Report 185
Statements of Comprehensive 189 Income
Statements of Financial Position 190
Consolidated Statement of Changes 192 in Equity
Company Statement of Changes in 194 Equity
Statements of Cash Flows 195
Notes to the Financial Statements 199
APPENDICES
Shareholdings Statistics 294
List of KPJ Top 10 Properties 297
Group Network and Directory 298
Notice of Annual General Meeting 300
PROXY FORM
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PG. 36
PG. 46
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Integrated Annual Report 2021
About this Report
Welcome to KPJ Healthcare Berhad's (KPJ or the Group) Integrated Annual Report 2021. This, our fourth Integrated Annual Report, serves as a platform for us to present a comprehensive and transparent account of the Group's businesses, strategies and performance as well as demonstrate how we continue to create value for our stakeholders.
KPJ's aspiration is to be the preferred healthcare provider to our patients and we are laser-focused on achieving this via our commitment to delivering exceptional healthcare. By carefully and expertly managing patient journeys in an excellent manner as per our "Care for Life" mantra, we continue to produce quality patient outcomes as well as create a sustainable pool of returning clients. We go all out to support this commitment by bringing the appropriate resources and strategies into play, all of which are enabling us to create a sustainable business that is positioned for long-term success.
REPORTING SCOPE AND BOUNDARY This Integrated Annual Report goes beyond financial reporting to encompass our non-financial activities for the period 1 January to 31 December 2021. Building upon our previous publications, it aims to present to KPJ's stakeholders, our progress in implementing our strategies as well as the challenges, risks and opportunities that had a significant influence on our ability to create value.
This report covers the activities of the Group's operations and all its subsidiaries in locations where it operates. However, as the Malaysian operations contribute some 96% of the Group's revenue, our reporting predominantly focuses on these operations and the related activities.
REPORTING FRAMEWORKS
In line with best practices, this Report adopts the Value Reporting Foundation's (formerly known as the International Integrated Reporting Council) Integrated Reporting Framework. The Framework is a principles-based, multi-capital, framework that is used to accelerate the adoption of integratedreporting across the world. Our reporting is also aligned with the updated Malaysian Code on Corporate Governance 2021 (MCCG 2021) that was released in April 2021, the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Securities), the Companies Act 2016 (CA 2016), and both the International Financial Reporting Standards (IFRS) and Malaysian Financial Reporting Standards (MFRS).
Sustainability-related information has been prepared in accordance with the GRI Standards Core option and is closely guided by Bursa Malaysia's Sustainability Reporting Guide (2nd Edition) to fulfil Bursa's sustainability-related listing requirements and FTSE4Good Bursa Malaysia Index criteria. We also continue to be guided by our commitment towards the United Nations' Sustainability Development Goals (UN SDGs) and report on our contributions towards specific goals.
FORWARD-LOOKING STATEMENTS This Integrated Annual Report contains forward-looking statements with the use of words or phrases such as "might", "forecast", "anticipate", "project", "may", "believe", "predict", "expect", "continue", "will", "estimate", "target", and other similar expressions. The report may also contain forecast information about KPJ Healthcare Berhad's future direction, strategies and growth opportunities. However, due to risks and uncertainties present in our dynamic business environment and operating landscape, these forward-looking statements are not a guarantee of future operating or financial results.
APPROVAL BY THE BOARD
The Board has applied its collective mind in preparing and presenting KPJ's 2021 Integrated Annual Report in line with the Value Reporting Foundation's Framework. The Board acknowledges its responsibility for ensuring the integrity of this Integrated Annual Report through good governance practices and internal reporting procedures and is of the opinion that it has been prepared and presented in accordance with the Framework. As such, the Board approved the publication of KPJ's Integrated Annual Report 2021.
Datuk Md Arif Bin Mahmood Chairman
KPJ Healthcare Berhad
Dato' Mohd Shukrie Bin Mohd Salleh
President & Managing Director KPJ Healthcare Berhad
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NAVIGATING THIS REPORT
Throughout this Integrated Annual Report, we have linked our Value Creation activities to our Six Capitals and Seven Strategic Thrusts with the following icons:
OUR SIX CAPITALS
Financial Capital
Manufactured Capital
Natural Capital
Integrated Annual Report 2021
Human Capital
More information on this can be found on page 10.
Intellectual Capital
Social and Relationship Capital
OUR SEVEN STRATEGIC THRUSTS
S2 S3
Enriched Customer
Capacity Building
Relationships
S5 S6
Innovation @ The CoreNew Niches
Sustainable Value for
Stakeholders
More information on this can be found on pages 21 to 23.
Human Resource
Business Process Improvement
OUR REPORTING SUITE
KPJ's Integrated Annual Report for the financial year ended 31 December 2021 is supplemented by our Sustainability Report 2021. Our reporting suite can be accessed online athttps://www.kpjhealth.com.my.
Reporting Suite | Integrated Annual Report 2021 | Sustainability Report 2021 |
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KPJ Healthcare Bhd published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 07:41:03 UTC.
