Fraser & Neave Holdings Bhd Annual Report 2020

007 ANNUAL REPORT 2020 01 overview 2 Inside what's OVERVIEW Who We Are ..............................................................................008 Our Story ....................................................................................009 Our Brands ................................................................................010 F&NHB at A Glance ..............................................................012 Our Product Category ........................................................014 Our Recognitions ..................................................................015 Our Value Chain .....................................................................016 Chairman’s Message ...........................................................018 Group Financial Highlights 2020 .................................022 Corporate Information ......................................................024 Corporate Structure ............................................................025 Our Global Presence ...........................................................026 Key Milestones .......................................................................028 LEADERSHIP Board Composition ..............................................................030 Profile of Board of Directors ...........................................031 Management Team .............................................................042 Profile of Chief Executive Officer .................................044 Profile of Key Senior Management ............................045 Organisation Structure ......................................................051 GOVERNANCE Chairman’s Introduction to Corporate Governance ......................................................106 Corporate Governance Overview Statement ......107 Nominating Committee Report ...................................118 Audit Committee Report ..................................................120 Statement on Risk Management and Internal Control ......................................................................123 Statement on Directors’ Responsibility ...................127 Additional Compliance Information ..........................128 SUSTAINABILITY REPORT Sustainability Statement ..................................................133 FINANCIAL STATEMENTS Directors’ Report ...................................................................142 Statements of Financial Position ................................148 Statements of Profit or Loss ..........................................149 Statements of Other Comprehensive Income ...150 Statements of Changes in Equity ...............................151 Statements of Cash Flows ...............................................154 Notes to The Financial Statements ...........................157 Statement by Directors .....................................................222 Statutory Declaration .........................................................222 Independent Auditors’ Report ......................................223 ADDITIONAL INFORMATION Shareholdings Statistics ...................................................226 List of Properties ...................................................................229 Corporate Directory ............................................................232 Notice of Annual General Meeting ............................234 Administrative Details ........................................................237 Appendix A ................................................................................241 Proxy Form ................................................................................. • MANAGEMENT DISCUSSION & ANALYSIS STRATEGIC REPORT Chief Executive Officer’s Statement ..........................054 Market Review ........................................................................062 Value Creation Business Model ....................................064 Stakeholder Engagement ...............................................066 Material Matters .....................................................................068 Principal/Key Risks & Mitigation ..................................076 Strategic Performance Review .....................................078 Key Performance Indicators ..........................................080 BUSINESS REVIEW Food & Beverages Malaysia ............................................084 Food & Beverages Thailand ............................................090 PERFORMANCE REVIEW 5-Year Group Financial Summary ..............................096 5-Year Group Financial Highlights ..............................097 Simplified Group Statement of Financial Position ..................................................................098 Group Segmental Analysis ..............................................099 Statement of Value Added .............................................100 Group Quarterly Financial Performance .................101 Financial Calendar ................................................................102 Investor Information ...........................................................104 Share Price Chart ..................................................................105