Annual Report 2019
KUB Malaysia Berhad
Resetting Our Strategies
Remaining steadfast and with optimism to confront changes on the horizon, KUB’s faith after weathering the storm is to continue thriving despite the challenges. By resetting our strategies, the Group has placed itself on a stronger foundation to reap future success.
Group Managing Director's Statement
Dear Valued Shareholder,
2019 was the continuation of an undeniably challenging period for the Group. While dealing with the spillover of operational issues from the previous financial year, we also had to contend with changing market realities that affected key divisions of our business.
With the COVID-19 pandemic substantially impacting the Malaysian and global economy in 2020, downward pressure will continue to be exerted on our revenue generating abilities. However, by significantly streamlining our operations during the year in review, we are confident that we will emerge from this disruption on firm footing to build towards a sustainable future. The theme of our annual report for FY2019 – ‘Resetting Our Strategies’ – reflects this understanding of our current reality, and an optimism towards opportunities yet to come.
– Datuk Seri Johari bin Abdul Ghani
5 year group financial highlights
In steering the business towards future sustainable practices, KUB Malaysia Berhad (‘KUB’ or ‘the Group’) is pleased to present its Sustainability Statement (‘the Statement’) for the financial year of 2019. The Statement functions as a summary of the Group’s sustainability initiatives and is prepared in line with the Main Market Listing Requirements (‘Listing Requirements’) and Sustainability Reporting Guidelines issued by Bursa Malaysia Securities Berhad (‘Bursa Malaysia’).
As part of the initiative to streamline reporting mechanisms, the Global Reporting Initiative (‘GRI’) Standards (Core Option) is referred to as recommended by Bursa Malaysia.
The scope of the Statement shall cover only the Group’s main business operations which include investment holding, LPG, Agro and ICT divisions. It however excludes the practices and processes adopted by associated companies where the Group does not have control over its respective operations.
The Board of Directors of KUB Malaysia Berhad (‘the Board’) is committed in ensuring that the process and structure relating to the affairs of KUB Malaysia Berhad (‘KUB’) and its subsidiaries (‘KUB Group’) promote sustainability and accountability with the objective of enhancing shareholder value and the interests of stakeholders.
KUB has won the MSWG-Asean Corporate Governance Award 2018 for the following categories:
- 1st for “Excellence Award for Overall CG & Performance (Market capitalisation between RM100 Million to RM300 Million)”;
- 2nd for “Industry Excellence Award (Industrial Products & Services)”; and
- 13th for “Excellence Award for CG Disclosure”.
The Board continues to review its Corporate Governance practices and policies to ensure full application of the key principles set out in Bursa Malaysia Securities Berhad (‘Bursa Malaysia’) Main Market Listing Requirements (‘Listing Requirements’), the Malaysian Code on Corporate Governance 2017 (‘the Code’) and other statutory requirements.