HAP SENG PLANTATIONS HOLDINGS BERHAD

ANNUAL REPORT 2021

CONTENTS

CORPORATE INFORMATION

Corporate Information 01

SUSTAINABILITY STATEMENT

Strengthening Our Sustainability Practices 42

OUR PERFORMANCE REVIEW

Group Financial Highlights 02

Management Discussion and Analysis 04

  • · Market Condition

  • · Management Strategies

  • · 2021 Financial Review

  • · Operational Performance

  • · Short and Long-term Goals

  • · Anticipated or Known Risks

  • · Outlook for 2022

  • · 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 34

Nominating Committee Report 36

Remuneration Committee Report 37

Statement on Risk Management 38 and Internal Control

DIRECTORS' RESPONSIBILITY STATEMENT

Directors' Responsibility Statement 62

FINANCIAL STATEMENTS AND

OTHER INFORMATION

Financial Statements 63

Additional Information 131

Particulars of Group's Properties 133

Plantation Statistics 135

Analysis of Shareholdings 137

Directors' Shareholdings 140

Notice of Annual General Meeting 141

Proxy Form

CORPORATE INFORMATION

Dato' Mohammed Bin

Cheah Yee Leng

Choy Khai Choon

Haji Che Hussein

Executive Director

Independent Non-Executive

Independent Non-Executive

Director

Chairman

Datuk Simon Shim Kong Yip, JP

Au Yong Siew Fah

Tan Sri Amirsham Bin A Aziz

Non-Independent Non-Executive

Executive Director

Independent Non-Executive

Deputy Chairman

Director

Datuk Edward Lee Ming Foo, JP

Datuk Amat Asri @ A.Asrie

Andrew John Barber

Managing Director

B.Ab Kadir @ A.Kadir, JP

Independent Non-Executive

Independent Non-Executive

Director

Director

Lee Wee Yong

Chong Kwea Seng

Datuk Hamisa Binti Samat

Executive Director

Independent Non-Executive

Non-Independent Non-Executive

Director

Director

COMPANY SECRETARIES

PLACE OF INCORPORATION

AUDITORS

Cheah Yee Leng

Malaysia

KPMG PLT

(LS 0009398)

(LLP0010081-LCA & AF 0758)

SSM Practising Certificate No.

Chartered Accountants

202008000771

SHARE REGISTRAR

Lot 3A.01, Level 3A

Plaza Shell

Lim Guan Nee

Tricor Investor & Issuing House

29 Jalan Tunku Abdul Rahman

(MAICSA 7009321)

Services Sdn Bhd

88000 Kota Kinabalu

SSM Practising Certificate No.

Registration No. 197101000970

Sabah

202008003410

(11324-H)

Unit 32-01, Level 32

REGISTERED OFFICE

PRINCIPAL BANKER

Tower A, Vertical Business Suite

Avenue 3, Bangsar South

21st Floor, Menara Hap Seng

No. 8, Jalan Kerinchi

Malayan Banking Berhad

Jalan P. Ramlee

59200 Kuala Lumpur

50250 Kuala Lumpur

Tel : 603-2783 9299

Tel : 603-2172 5228

Fax : 603-2783 9222

Fax : 603-2172 5286

E-mail : inquiry@

hapsengplantations.com.my

Website: www.

hapsengplantations.com.my

GROUP FINANCIAL HIGHLIGHTS

FINANCIAL YEAR ENDED 31 DECEMBER

2021

2020

2019

2018

2017*

INCOME (RM'000)

Revenue

670,851

467,595

418,598

390,756

555,072

Profit before interest and tax

291,458

110,020

38,412

36,186

145,904

Profit before tax

290,260

108,400

36,559

37,151

146,931

Profit attributable to owners of the Company

224,023

90,296

31,449

29,109

109,218

FINANCIAL POSITION (RM'000)

Assets

Total assets

2,369,302

2,181,885

2,137,699

2,070,055

2,115,908

Net assets

1,882,871

1,714,826

1,652,519

1,638,434

1,669,311

Current assets

658,732

380,377

242,828

232,286

273,419

Liabilities

Current liabilities

64,357

48,269

50,363

42,370

53,786

Equity

Paid-up share capital

1,475,578

1,475,578

1,475,578

1,475,578

1,475,578

Shareholders' equity

1,882,871

1,714,826

1,652,519

1,638,434

1,669,311

Number of shares

- Weighted average shares in issue net of

treasury shares ('000)

799,685

799,685

799,686

799,690

799,694

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

799,685

799,685

799,685

799,687

799,691

SHARE INFORMATION

Per share

Basic earnings (sen)#

28.01

11.29

3.93

3.64

13.66

Net assets (RM)@

2.35

2.14

2.07

2.05

2.09

Dividend (sen)

17.00

7.00

2.50

2.50

11.00

Share price

- Year High (RM)

2.24

2.12

2.14

2.63

2.73

- Year Low (RM)

1.73

1.25

1.40

1.61

2.45

- As at 31 December (RM)

1.97

1.80

2.13

1.64

2.55

Market capitalisation (RM' 000)

1,575,379

1,439,433

1,703,329

1,311,487

2,039,212

Trading volume ('000)

23,169

40,517

11,822

9,358

30,409

FINANCIAL RATIOS

Return on total assets (%)

9.46

4.14

1.47

1.41

5.16

Return on shareholders' equity (%)

11.90

5.27

1.90

1.78

6.54

Current ratio (times)

10.24

7.88

4.82

5.48

5.08

*

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

GROUP FINANCIAL HIGHLIGHTS

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Hap Seng Plantations Holdings Bhd published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 04:04:03 UTC.