TASCO Berhad : Annual Report 2021

TASCO Berhad 197401003124 (20218-T)

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OVERVIEW

Our Vision, Mission and Values	1
Our Company Profiles	2
Domestic Network	4
Yusen Logistics Group	6
Consolidated Financial Highlights	8

CORPORATE SECTION

Chairman's Statement	10
Management Discussion and Analysis	15
Our Response to the Covid-19 Pandemic	25
Sustainability Statement	26
TASCO Basic Core Fundamentals	35
Business at a Glance	36
Corporate Information	38
Board of Directors	39
Profiles of Key Management	45
Corporate Governance Overview Statement	48
Audit Committee Report	61
Statement on Risk Management and Internal Control	64
Additional Compliance Information	66
Calendar of Events	67

FINANCIAL STATEMENTS

Financial Statements

69

OTHERS

List of Properties	155
Analysis of Shareholdings	157
Subsidiary and Associated Companies	159
Notice of Annual General Meeting	161
Form of Proxy

Cautionary Statement With Regard To Forward - Looking Statements

Certain of the statements made in the Annual Report

are forward-looking statements, which involve certain

risks and uncertainties that could cause actual results

to differ materially from those projected. Readers

are cautioned not to place undue reliance on these

forward-looking statements, which are valid only as of the date thereof. TASCO Berhad undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date thereof or to reflect the occurrence of

unanticipated events.

CONTENTS

Scan to download the PDF version of our report

BRAND

PROMISE

This is our brand promise. It

describes what we aim to deliver

time and time again

LET'S LIVE THE VALUES

B E

C O N N E C T E D

Be open and transparent

in the way you work - and make sure you

truly understand your customers' challenges.

LET'S LIVE THE VALUES

B E

C O M M I T T E D

Build relationship,

show your dedication to quality - and get every detail right.

LET'S LIVE THE VALUES

B E

C R E AT I V E

Strive to develop better

ways of working - then act on them and share them with colleagues.

LET'S KEEP OUR PROMISE

CREATE BETTER

CONNECTIONS

Get close to customers,

work closely with

colleagues - and help secure the future of our

business.

ANNUAL REPORT 2021

OUR VISION, MISSION AND VALUES

VISION

Our new vision describes our ultimate ambition for the future

Connecting people, businesses & communities

to a better future - through logistics

MISSION

This describes the business we need to become - and tells us what we must do

to achieve our vision

To become the world's preferred supply chain logistics company - applying insight, service quality and innovation to create sustainable growth for business and society

VALUE

We also have three values that inform our personality and behaviours. A rational one,

an emotional one, and a more aspirational

one designed to stretch us.

Connected

Committed

Creative

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ANNUAL REPORT 2021

OUR COMPANY PROFILE

ABOUT TASCO BERHAD ("TASCO")

TASCO was incorporated on 10 September 1974 and listed on the Main Market of Bursa Malaysia Securities Berhad on 28 December 2007. TASCO is a subsidiary of Yusen Logistics Co. Ltd., which in turn is a subsidiary of Nippon Yusen Kabushiki Kaisha.

TASCO has 26 logistics centres and 2,200 employees in Malaysia. It is a part of the global network of Yusen Logistics Co. Ltd having 595 locations and 23,544 employees worldwide as at 31 March 2021.

TASCO offers logistics solutions covering air, sea and land

transportation. It serves as a one stop logistics centre to handle domestic and international shipments for the customers.

TASCO has categorised its services into International Logistics Solutions and Domestic Logistics Solutions.

CONTRACT

LOGISTIC DIVISION

Customs Clearance

Haulage Transportation

Warehousing Services

Warehouse In-plant Services

COLD SUPPLY CHAIN DIVISION

Cold Supply Chain

Convenience Retail

TRUCKING

DIVISION

Domestic Trucking

Cross Border Trucking

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OCEAN FREIGHT FORWARDING DIVISION

• Sea Freight Services
• Buyer Consolidation Services

AIR FREIGHT

FORWARDING

DIVISION

• Air Freight Services

ANNUAL REPORT 2021

OUR COMPANY PROFILE

ABOUT Nippon Yusen Kabushiki Kaisha ("NYK")

NYK is listed on the Tokyo Stock Exchange and Nagoya Stock

Exchange;

NYK has 58,601 employees globally; and

NYK's major businesses consist of global logistics based on international marine transportation business, cruises, terminal and harbour transport, shipping-related services and real estate.

In October 2016, NYK, Kawasaki Kisen Kaisha ("K Line") and Mitsui O.S.K. Line ("MOL") have announced a joint venture agreement to form Ocean Network Express Pte Ltd ("ONE") with the shareholding of 38%, 31% and 31% respectively, to integrate their container shipping businesses. ONE has commenced services on 1 April 2018.

ABOUT Yusen Logistics Co., Ltd. ("YLK")

YLK is a wholly-owned subsidiary of NYK and YLK shares were delisted from the Tokyo Stock Exchange on 29 January 2018;

YLK has 595 locations in 47 countries and 23,544 employees worldwide as at 31 March 2021;

YLK is one of the leading international air freight forwarders in Japan; and

Pursuant to a corporate exercise within the NYK Group, YLK became the immediate holding company of TASCO on 2 April 2012. NYK remains the ultimate holding company of TASCO.

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